Indianapolis Times, Volume 34, Number 249, Indianapolis, Marion County, 27 February 1922 — Page 12
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INTEREST KEEN IN AFFAIRS OF STOCK MARKET Securities Gain Strength as Result of Favorable Influences. Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR/ NEW YORK, Feb. 27.—Accelerated speculative activity and increased public interest have been the distinguishing features of the stock market for the last week. Trading still bears much of the professional stamp, but this is no more than natural. No lull market ever passed through the early stages without suffering the accusation that its accompanying phenomena were tawdry imitations of the real thing, as badly artificial as the thunder barrel and the flares operated from the wings to produce the terrifying storms in the old melodrama. Nevertheless, bull markets have a habit of getting under way. All the time-worn market mechanism of the past may be invoked to get them started, and then we begin to hear something about the sterling fundamentals that were overlooked. Asa matter of fact, securities are going up as a result of a strong combination of favorable influences, some of a positive and others of a negative character. One is as helpful as the other, if they can be made to synchronize. The fact that public speculative holdings of securities are not large may not be of itself an argument for higher prices, but when taken in conjunction with an increasing supply of idle money and a restless temperatment it constitutes a most vital element in the situation. The investment buying movement of last autumn merely has overflowed into the seasoned dividend payers, spread to 6tocks of clean repute and hopeful prospects, and also has encouraged the exploitation of issues less desirable in character. These latter movements are made possible largely by favoring technical circumstances, and they serve only as sensations of a day. It therefore is necessary to differentiate between an advance in United States Steel and Gulf States Steel, Texas Company and Pierce Oil. Those who operate without giving value first consideration may have occasion for ultimate regret, although they may have to forego an occasional thrill. The important developments of late have consisted of the rise in farm products, the apparently successful opposition to the soldiers’ “bonus" plan, the rise in sterling and its ramifying significance and the housecleaning in financial circles that has been responsible for eliminating the parasitic establishments that have constituted a nuisance and a menace to the community. DEMAND SEEN FOR FACTORY OUTPUT. It will be strange indeed if the advance in wheat, corn and livestock prices do not find their reflex in better general trade reports. Collections already are improving in the agricultural districts. Buying by retailers is more confident. The position of the regional banks 01 the Federal reserve system is impressively stronger. With farm products higher and with the tendency toward lower production and selling costs in the industrial field we shall hear gradually less about the disturbed equilibrium between our great producing groups. It will take less corn to buy farm implements, and fewer hides will be required to purchase a pair of shoes. The demana for the output of our factories therefore will increase. The rise in the foreign exchanges must be interpreted from two angles. It means at the moment an increase in the buying power of certain European countries. It is nevertheless a reflection of economic stagnation. Sterling would not be at $4.40 if the industrial centers of Lancashire, Nottingham and Sheffield were humming with activity. Their raw material purchases would make offerings of bills too heavy. In some respects the rise in exchanges is a disadvantage. What is gained in buying power may be lost in selling power. We have an illustration of this in the difficulty Manchester experiences in selling cotton goods, although buyers have to wait in line outside the mills of Germany. Moreover, Germany is shrewdly minimizing the unfavorable element represented by the low mark by trying barter here and there, such, for example, as trading steel rails for Argentine wool. She gets better value than if she sold the rails elsewhere and bought wool with the cheap mark. Satisfaction over the strong opposition that has developed to the soldier “bonus" bill has been one of the stimulating elements i nthe market in the last week. The passing of a number of irresponsible brokerage concerns frlso should do much toward clearing the financial circles. The investment business of the country is too vital to the public to be in incompetent hands. At present the chief cloud on the horizon consists of the threat of a coal strike, but at present it appears to be no more than a threat. Undoubtedly the miners have been receiving unsatisfactory aggregate wage payments, but it would appear that the remedy lies more along the linos of better organizations of the industry in respect to distribution than in the form of wage increases which will add materially to production costs in all forms of enterprise.—Copyright, 1922, by Public Ledger Company.
Further Progress Made in Steel and Iron Trade Some Finishing Mill s Running Close to Normal Capacity .
Special to Indiana Daily Times and Philadelphia Public Ledger. PITTSBURGH. Feb. 27.—The iron and steel trade made further progress this week. Little forward buying is in evidence, most sales being for quick delivery. But instead of being unfavorable, this should be regarded as a propitious condition, since operations show a substantial increase under hand-to-mouth buying and consumption, and there remains practically no accumulation of stocks or inventory. In the Pittsburgh district the larger steel companies are operating above 50 per cent of capacity, while in finishing lines plants are operating in a few cases up to 90 per cent. As to prices, buyers who have fairly substantial tonnage to place secure closer prices. However, the trend is firmer and buyers find some difficulty in obtaining concessions on plates, shapes and bars. Producers of sheets refuse business in black and galvanized stock at less than 3 and 4 cents, respectively. With increased inquiry from jobbers for wire products there is apparently less disposition to shade prices. The price situation varies and not altogether favors the buyer. However, until mills accumulate such a volume of orders as to be able to promise prompt deliveries, competition will develop variable prices. Competition has not lowered the extreme prices, the prices named on the largest orders but has developed concessions from regular prices on small lots, whereby in some steel products it is only moderate sized orders which go at the full or regular prices. The regular prices have undergone no change since the reduction in wire products, Dec. 21, but the average prices have declined somewhat. On the basis of weighted average of all important finished steel products, steel prices are now 17 per cent above the average market in the ten years, 1004 1o 1013, inclusive and 22 per cent above the average of 1913. To the average
N. Y. Stock Exchange
(By Thomson & McKinnon) —Feb. 27 Prev. High. Low. Close, close. Advance-R. com. 14}a 14 14 11% Ajax Rubber... 15 15 15 15% Allied Chemical 57% 57% 57% 57% Allis-Chaliners.. 40% 45 40 45 Am. Bosch Mag. 39% 39 39 .... Am. Can 41% 40% 40% 40% Am. Car & Fd..150% 149 149 150% Am. Ice 100 98 98 99% Am. H. &L. pfd 07% 00% 07% 00% Am. In. Corp.. 45% 43% 43% 44 Am. Locomotive 109% 107 107% lo7_ Am. Steel Fd... 32 32 32 31% Am. S. and Ref. 47% 40% 40% 40% Am. Sugar Ref. 07% 00% 00% 07'% Am. S. Tob. Cos. 20% 25% 20% 25% Am. Tel. and T.. 119% 119% 119% 119% Am. Tobacco ..138% 158 138% 138% Am. Woolen .... 80% 85 S5 85% Anaconda 49% 48% 48% 48 Atchison 97% 90% 90% 97% Atl. Coast Line. 90 89% 89% 89% Atl. Gulf &W. I. 27% 24% 24% 27 Baldwin Loco. ..109% 104 %104% 108 -4 B. & 0 38% 37% 37% 38% Beth. Stl B 03,Vs 02% 02% 03% Brook Trans.... 10% 10% 10% 10% Cal. Pete 54% 52 52 53% Can. l’ac. Ry. 140% 138% 139% 139 Central Lea 3.'!% 32% 32% 33% Chandler Mot... 72 09% <>9% 09% C. & 0 00% 59 59 00% CMSTP. com. .. 24% 23% 23% 24% CMSTP. pfd. .. 88% 37% 37% 08% Chi. & North. . 09% OS 08 08% CRIP 42% 40% 40% 41% CRIP 0 pet. pfd. 80% 79% SO 80 CRIP 7 pet. pfd. 93% 93% 93% 93% Chili Copper .. 17% 10 10% 10:4 duett P 54% 54% 54% o 4 Chino Copper.. 20% 25% 20% .... Columbia Gas.. 75% 75 75% ”0% Coca Cola 45% 44 45% 45% Consolidated G.. 98 94% 94% 94% Continental Can 54% 53 53 .... Corn Prod 103% 101% 101% 102% Crucible Steel.. 55 52% 55 55 Cuban A. Sg... 19% 19 19 .... Cuban Cane 5... 10 9% 9% 9% Dela. & Hudson 111 111 HI HI Dela. & Lack... 115% 113% 113% 115 Dome Mines ... 25 24% 25 24/4 Erie U 10% 10% 10% Erie Ist pfd IS% 17% 17% IS% Endicott and J. 81 80% 80% 80/4 Famous Players S3 81 81 81% Fisk Rubber Cos. 12% 12% 12% 12% Gen. Asphalt .. 04% 62% 62% GO Geii. Electric ...153% 151% 101% Gen. Motors ... S% 8% 8% 8% Goodrich 34% 34% 34% .... Gt. North, pfd. . 70% 75% 75% <O% Gt. North. Ore.. 35% 34% 34% 3a% Gulf States S. . 71% 66% 60 o<% Hupp 14% 14% 14% 11% Houston Oil .. 78% 76% 76% <8 Illinois Central .100 100 100 •••• lndiahoma 1 1 4 , In. Copper .... 39 38% 35% 38% Inter. Harvester 91% 91% 91% 96% Inter. Nickel • 11% 11% 11% 11% Inter. Paper .. 49% 45% 48% 49 Invincible Oil .. 16% 15% 16 lb Kansas City S.. 26% 26% 26% 26% Kelly-S. Tire . 40% 39% 4040% Kenn. Copper .. 28% 27% 27% 27% Lack. Steel .... 45% 44 45% 45% Lee Tire &R. • 28% 28% 28% •• • • Lehigh Valley.. 61% 60 60 61 Martin Parry... 27% 26 .27% 20 Loews, Inc 13% 13% 13% 13% L. & N 113% 113% 113% 113 Marine com 15% 15% 14% la% Marine pfd 72% 70% 10% il. May Stores 111% 109% 110% 109 Maryland 0i1... 28% 27 28% 27% Mexican Petrol. 124 120 120% 122% Miami Copper.. 27% 26% 27% 26% Middle St. Oil.. 13% 13 13 13% Midvale Steel... 30% 29% 29% 30 Mis.-Pae. Ry... 21% 21 21% 20% M. P. Ry. pfd.. 52% 52% 52% 52% Mont. & Ward. 15% 14% 14% 15 Nat. Lead 89% S9 89 89 Nev. Con. Cop.. 14% 13% 14% N. Y. Air Brk.. 59% 59% 59% ..... N. Y. Central... 78% 77 77 78 New Haven 18% 17% 17% 18 Nor. & We5t...101% 101 101 101% North. Pacic.... Sl% 80% 80% 80% Ok. P. & R. Cos. 2% 2% 2% 2% Owen Bot. com. 29% 29% 29% 29% Pacific Oil 50 45% 45% 48% Pan-Am. Petrol. 55% 54% 54% 55% Penna. Ry 35% 34% 34% a People’s Gas... 75 75 75 10 Pere Marquette 27% 26% 26% 20% Pierce Arrow... 17% 10% 16% 17% Pierce Oil C 0... 8% 8% 8% S% Pull. Pal. Car.. 116% 115% 115% 115% Pure Oil 35% 35% 35% 35% Ry. Steel Spr.. 97% 96 96% 96 Reading 76% 74% 84% 76 Rep. Iron & Stl. 47 46% 46% 40% Ry.. D. of N. V. 54% 53% 53% 53 73 Sears Roebuck. 70 65% 68% 68 Sinclair 23% 22% 22% 22% Sloss-She’fld .... 39% 39% 39% 07% Sou. Pac 56% 85% SO 86 Sou. Ry 21% 30% 21 -1 STL&SW 1ty.... 29 28 28 28% Stand. Oil Cal. 90% 90% 90% 90% Stand. Oil N. .T. 179% 179’% 179% 179% St. L. & S. F.. 30% 29 _ 29% 29% Stewart Warner 34 33% 34 33% Stromberg 44 41 42% 40% Studebaker ... 102% 99% 99% 100% Texas Gas .... 46% 45% 45% 16% Texas Coal & Oil 25% 27 27 27% Texas Cos 46% 46 46 40% Texas Pacific.... 33 31% 31% 31% Tob. Prod 02% 55% 58% 02 Trans. Oil 10% 9% 10 10 Union Oil 18% 18 18% 18% Union Pacific ...135 134% 134% 134 United Drug.... 67% 60% 60% .... United Fruit ...141% 140% 140% 141% U. S. R. Stores.. 45% 44 44% 47% U.S.C. Iron Pipe 27% 26 26 26% U.S. Indus. Alco. 45% 44% 44% 45 U. S. Rubber .... 55% 54% 54% 55 XT. S. Steel 94% 92% 93 94% U. S. Steel pfd..116% 116% 116% 116% Utah Copper.... 63% 61% 01% 61% Van. Steel ..... 37% 35% 35% 36% Wabash 8 7% 8 7% Wabash Ist pfd. 25 24 24% 24% Wilson & C 0.... 41 40% 40% 41 West. Pacific.. 18% IS 18 18% West. Union.... 92% 92% 92% 92% West’house Elec. 55% 55 55% 55% White Motors.. 39 39 39 38 W-Overland .... 5% 5 5% 5 White Oil 9% 9% 9% 9% Woolworth 149% 148% 148% 148% Worth. Pump. 46% 40% 46% 46% NEW YORK LIBERTY BONDS. —Feb. 27 Prev. High. Low. Close, close. L B. 3% 9 97.02 96.94 97.00 96.96 L. B. Ist 4s 97.00 L. B. 2d 4s 96.90 L B. Ist 4%5.... 97.28 97.18 97.24 97.10 L. B. 2d 4%5.... 97.00 96.80 96.94 96.80 L. B. 3d 4%s 97.50 97.54 97.80 97.50 i L. B. 4th 4%5... 97.32 97.16 97.26 97.24 i Victory 3%s 100.00 100.00 Victory 4%s 100.2S 100.26 100.20 100.20
mill, present prices yield no profit and do not enable the mill to earn all its overhead expenses. An effort is‘being made to maintain prices of pig iron at $lO for foundry and $lB for basic and on I.OCO tons of basic wanted by a sheet company nothing lower than $lB was quoted. This firmer tone in the market is due to a heavier inquiry for all grades, coupled with the fact that merchant furnaces now have less competition from steel works in sales of basic. There is a tendency to acquire for deliveries extending through the second quarter and into August. The market is more active and cheerful. The American Sheet and Tineplate Company has just opened books for the second quarter, naming its former prices on both sheets and tin plate. Tin plate specifications are larger, while export business is lighter. However, new purchases by Container Manufacturers, Food Packers and others are sufficiently large to make tin plate the leader of all steel products from an operating standpoint. Semi-fini3hed steel is in greater demand. The Pittsburgh Steel Company has started six more open hearth furnaces. Some large inquiries are in the market for line pipe including 100 miles for Mexico. There is a fairly steady demand for standard pipe. Steel plates inquiry has improved with most work still coming from car and tank builders. Jobbers .v-e beginning to replenish their stocks, one warehouse having placed an order for 6,000 tons of plates, shapes and bars. Small manufacturers also are placing orders to take care of their immediate needs. Demand Is more widely distributed than for some time. Steel rail orders of the week aggregate about 150,000 tons. \ The railroad tributary to Pittsburgh have specified against March and April shipments and are seeking to have pay* ments begin about six months hence. Makers of light rails are maintainiig the $1.50- price, which, however, is cut Uy re-rolling mills.—opyright, 1922, by Public Ledger Company.
STOCK MARKET TONE IS WEAK Reactions of 1 to 5 Points Appear in Late Trade. NEW YORK. Feb. 27.—The stock market closed weak today. The market was unsettled in the late dealings, heavy selling of many of the active issues causing reactions of from 1 to 5 points. Baldwin Locomotive yileded nearly 5 point sto 104% and United States Steel broke to 93. Studebaker was alo in large supply, falling to 99%, compared with an earlyhigh of 102%. Reading dropped to 74%. Mexican Petroleum recedded to 120%. United Retail Stores made another new lowe in the last few minutes, selling at 43%. Government bondh were unchanged and railway and other bonds irregular. Total sales of stocks for the day wore 1,135,9C0 shares. (By Thomson & McKinnon.) —Feb. 27 A preponderance of favorable factors over the week-end and throughout the day induced renewed bullish specialty operations in the stock market. Some new outside buying developed as a result. Activity was well distributed throughout the list and favored issues responded impressively. Demand Sterling was $4.42%, anew top, with new high for francs and lire, coupled with authoritative Washington advices to the effec that "bonus” legislation would hj|_Postponcd, were the impelling influences. Announcement that one of the leading copper producers had resumed production drew attention to the future possibilities of the industry because of the latent demand for metal. The copper stocks were well bought and registered sharp advances. Continued buoyancy of grain prices and the optimistic statement of the President of the country’s leading mail order concern inspired confidence which was reflected in the demand for railroad shares and selected industrials. Strength in the bond market, liberties in particular, was an encouraging sign. Efforts were made to depress some of the steel stocks, but were only partially siicceessful. The market as awkole appears to be in a strong technical position. The floating supply of many leading stocks appears to be limited, while the short interest apparently has not been materially reduced. Moderate setbacks may be anticipated, but we feel that they will be of a temporary character and will furnish excellent opportunities for those bullishly inclined. TWENTY STOCKS AVERAGE. NEW Y'ORK, Feb. 27.—Twenty industrial stocks last Saturday averaged 85.33, up .15 per cent. Twenty active rails averaged 79.16, up .43 per cent. CLEARING HOUSE STATEMENT. NEW . .YORK,* Feb. 27.—Exchanges, $420,100,060; balances, $04,700,000: Federal Reserve Bank credit balances, $53,300,000. Money and Exchange Indianapolis bank clearings Monday were $3,139,000; bank debits, $5,258,000. NEW Y’ORK, Feb. 27.—The foreign exchange market opened strongly today with demand Sterling l%c higher at $4.43%. Francs rose 13 centimes to 9.20 c for cables and to 9.19%e for checks. Lires advanced S% points to 5.26 c for cables and to 5.25%c for checks. Belgians francs were up 11 centimes to 8.73 c for cables and to 8.72%c for checks. Marks were % of a point lower to .0045 c. Guilder cables were 38.38 c; checks, 38.33 c. Sweden kronen cables were 26.60 c; checks, 26.55 c. NEW YORK CALL MONEY. NEW YORK, Feb. 27.—Money—Call money ruled 5 per cent; high 5 per cent; low 4% per cent. Time rates steady; all 4%®5; prime mercantile paper, steady. Sterling exchange was steady, with business in bills at $4.43%. MOTOR SECURITIES. (By Thomson & McKinnon.) —Feb. 27. —Close— Bid. Ask. Earl Motors 2% 3 Packard com 5% 5% Packard pfd 65 07 Peerless 35 36 Continental Motors com 5% 5% Continental Motors pfd S5 90 Hupp com 14% 15 Hupp pfd 90 Iteo Motor Car 18% 19 Elgin Motors 2% 2% Grant Motors 3% 1 Ford of Canada 291 297 National Motors 1% 2% Federal Truck 15 17 Paige Motors 13 14 Republic Truck 4% 5 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Feb. 27. —Opening— Bid Ask Anglo-American Oil 17% 17% Atlantic Lobos B’/ 3 9% Borne-Scrymser 320 340 Buckeye Pipe Line 90 93 Chesebrough Mfg. Cons 185 195 Continental Oil, Colo 128 133 Cosden Oii and Gas 5 8 Crescent Pipe Line 33 35 Cumberland Pipe Line 145 149 Elk Basin Pete 6% 6% Eureka Pipe Line 95 98 Galena-Signal Oil pfd 108 113 Galena-Signal Oil com 47 50 Illinois Pipe Line 172 177 Indiana Pipe Line 93 96 Merritt Oil 8% 8% Midwest Oil 2% 3 Midwest Rfg 170 175 National Transit 28 29 New York Transit 155 158 Northern Pipe Line 103 106 Ohio Oil 267 272 Oklahoma P. & R 5% 5% l’enn.-Mex 21 23 Prairie Oil and Gas 530 540 Prairie Pipe Line 231 233 Sapulpa Rfg 2% 3 Solar Refining 370 380 Southern Pipe Line 92 • 94 South Penn Oil 171 176 Southwest Penn Pipe Lines. 59 62 Standard Oil Cos. of Ind 87% 87% Standard Oil Cos. of Kan 515 530 .Standard Oil Cos. of Ky 450 475 Standard Oil Cos. of Neb 165 175 Standard Oil Cos. of N. Y. ...357 362 Standard Oil Cos. of Ohio 385 395 Swan & Finch 40 50 Vacuum Oii 330 340 Washington Oil 30 40
NEW YORE CCRB MARKET. (By Thomson & McKinnon.) —Feb. 25 — —Closing—■ Bid. Asked. Acme Packing 20 25 Curtis Aero, com 42 45 Curtis Aero, pfd 22 Goldfield Con 6 Jumbo Extension 2 5 Imperial Oil (Del.) 14% 15 International Petroleum 0 6% Nipissing 3% 4 Standard Motors 13% 15% Tonopah Mining 1% 1% United P. S. new 1% 1% U. S. Light and Heat 77 85 U. S. Light and Heat psi. ... 95 1% Wright-Martin 2 5 Yukon Gold Mine Cos 11% 11% Jerome 35 40 New Cornelia 175 18 United Verde 27% 2S Sequoyah 3 10 Omar Oil 70 75 Rep. Tire 40 50 Boston A Mout 25% 26 Kirby Oil 25% 26 CHICAGO STOCKS. (By Thomson & McKinnon) —Feb 27 — Open. High. Low. Close. Arm. & Cos. pfd 98 98% 98 98% Armour Leath.. 12% Case Plow 3 C C & C R pfd 9 9% 9 9% C Kiev Ry pfd.. 4% 4% 4 4% Cudahy 67 Com. Edison . .118 118% 118 118% Deere & Cos. pfd 69 70 69 70 Earl Motors ... 2% • .... Libby-McNeill .. 6 ' 6 6% 5% Mont.-Ward ... 15% National Lether 2% Do new 10% Pick & Cos 23% 23% 23% 23% Piggly Wig. (A) 37% 38 " 35% 85% Stewart-W 33% 34 33% 33% Swift A Cos 106 Swift Inti 23 23% 23 23% Thoinp. (J. R.) 43% 43% 43 43 Temtor Corn A 2% 32% 3 U. C. & Carbon. 50% 51 50’% 50% Wahi 65% Yeliow Taxi .... 69 ' 72% 69 70%
INDfANA DAILY TIMES, MONDAY, FEBRUARY 27, 1922.
New York Bonds
(By Fletcher American Cos.) —Feb. 27. FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (Unlisted) ss. Sept.l, ’45 73% 76 Arg. 7s Oct, ’23 98% 95% Belgian 6s. Jan. 1, ’25 101% 102 Belgian 7%5. June 1, ’45 107% 108 Belgian Bs, Feb. 1, ’l4 107% 107% Berne, Ss, Nov. 1. ’43 110% 111% Brazil Bs, June 1, ’4l 103% 104 Chile Bs, Oct 1, ’26 100% 101 Chile Ss, Felt. 1, ’4l 102% 103 Chile Ss, Nov. 1. ’46 101%. 101% Christian! Bs, Oil. 1, ’45 ....108% 109% Copenhagen 5%5, July 1, ’44 89% 90 Danish Mun. Bs, Feb 107% 108 Denmark Bs. Oct. 15. ’45 ..108% 109 •Canadian 5%5, Doc. 1. ’22 .. 90% 98% •Canadian 5%5, Nov. 1, ’23 .. 90% 97% •Canadian 5%5, Nov. 1, ’24.. 93’% 97 •Canadian ss, Dec. 1, ’25 .. 94% 95% Canadian ss, Apr. 1, ’2O ... 97% 98 Canadian 5%5, Dec. 1, ’27 ... 97% 98% Canadian 5%5, Aug, 1, ’29 .. 99% 99% Canadian ss, Apr. 1, ’3l ... 96% 90% •Canadian ss, Oct, 1, ’3l ... 94% 9.7% Canadian 5%5, Nov, 1, ’33 .... 99% 100% •Canadian %ss. Nov. 1.’34 ...96% 97% Canadian ss, Mch. 1, ’37 90% 07% •Canadian 5%5, Dee. 1. ’37 ..lot 1 -.. 102% •French (\ r iet.) ss, Opt., ’3l . 07% 09 •French 4s. Opt., ’43 54% 55% French 7%5, June ’4l 99% 99% French Ss. Sept, 15, ’45 103 103% •Italian (War) 5s 39% 40% Jap (First) 4%5. Feb. 15, ’25 . 80% 90 .Tap (Second) 4%5. July 10, ’25 89 89% Jap. 4s, Jan. 1, ’3l 75% 70 ~ Mexico ss, Jan., ’45 54 55 Mexico 4s, Jan. ’54 43% 44% Norway Bs, Oct. 1, ’4O 109% 110 Queensland, 7s, Oct, 1, ’4l ....107% 108 Rio (le Janeiro Bs, Oct., ’4O ..100 100% Sao Paulo Ss. Jan. 1, ’3O ..101% 102% Swedish Os, June 15, ’39 .... 98 98* Swiss 5%5. Aug, 1, ’39 .... 99% 100 Swiss Ss, July 1, ’4O 114% 115 U. K. 5%5, Nov. 1, ’22 161% 105 U. K. 5%5. Aug 1, ’29 105% 105% U. K. 5%5, Feb. 1, ’37 99% 100 Uruguay Bs, Aug. 1, ’46 ....105 105% Zurich Bs. Oct. 15, ’45 110% 111% Bergen Bs, 109 109 % Argentine 4s, A and O 00 61 Argentine 4s, J. and .T 00 61 Dutch E. Indies, 6, 12 94% 94% Ontario Cs, ’43 104% 106* Seine 7s 91% 91% CORPORATION BONDS. Bid Ask Allied Packers Cs 08 09 Alum. Cos. of Am. 7s, Nov., ’25.101% 101% Ain. Cotton Oil 6s, Sept. 2, ’24 95% 95% Amer. Tel. Cs, Feb., ’24 100% 100% Am. Tel. Cs, Oct., ’22 100% 100% Amer. Tel. & Tel. os, ’25.... 112% 112% Am. Thread 6s, Dec., ’2B 100% 100% Amer. Tob. 7s, Nov., ’2 101% 101% Amer. Tob. 7s, Nov., ’23 102% 102% Anaconda 6s, Jan., ’29 98% 98% Anaconda 7s, Jan., ’29 102 102% Anglo-Am. Oil 7%5, Apr., ’25. .103% 104% Armour 7s, July 15, ’3O 103% 103% Atchison Gen. 4s 87n 87% Atlantic Ref. 6%5, Mch., ’31.103% 103% Bell Tel. of Can. 7s, Apr., ’25.100% 101% Beil of l’a. 7s ’. 10. % 107% Beth. Steel 7s, July 15, ’23...101% 101% Big Four 0s 97% 98 Canadian Deb. 4s 77% 78% Can. Nor. o%s 108% 108% Can. Nor. 7s 108% 110% Can. Pacific 6s, Mch. 2, ’24....100% 100% Cent. Arg. Ky. 6s, Feb., ’27.. 90% 91% C. B. Q. —111. 3%s 78% 79% C. B. Q. Gen. 4s 82% 83% C. B Q. —Neb. 4s 94% 95% C. B. Q. 5s 97 97% C. B. Q.— Jt. 6%s 105% 100% Chic. & N. W. o%s 106% 107 Chic. & N. W. 7s 105% 100% Col. Graph. Ss 39% 40% Con. Gas 7s, Dec., ’22 101% 101% Copper Exp. Bs, Feb. 15, ’23..101% 102% Copper Exp. Bs, Feb. 15, ’24..102% 103% Copper Exp. Bs, Feb. 15, ’25. .103% 104 Cuban Am. Sugar 8s 101% 104% Dudnhy 7s, July 15, ’23 193% 101 Cudahy 7s. July 15, ’23 100% 101 Diamond Match 7%s 107% 107% Du Pont 7%s 103 103% Federal ss. "1 102% 103% Fed. Sugar os, Nov., ’24 99 99% Fisk Tire 8s 101% 102 Galena 7s 101% 101% Godrich 7s. Apr.. ’25 97% 97% Goodyear Ist Bs, ’4l 112% 113 Goodyear Deb. Bs, ’3l 97% 98% Great Northern 7s 107% 108 Grand Trunk 0s 101 Vs 101% Grand Trunk o%s 103% 104% Grand Trunk 7s 108% 109% Great Northern 5%s 96% 96% Gulf Oil 6s, July, ’23 100% 100% Gulf Oil 7s, Feb., ’33 103% 103% Heinz 7s, Dec., ’3O 104% 104% Hocking Val. 6s, Mch., ’24.... 98% 99% Humble Oil 7s, Mch. 15, ’23..106% 101% 111. Out. Ref. 4s, ’55 82% 85 Int. R. T. Bs, Sept., ’22 SO 81 Inter. Met. 4%s 10% 10% Inter bora 5s 63.% 64% K. I’r. & Lt. 8s 103% 104% K. C. Term 6s Nov. 15, ’23..100 100% Tvelly-S-nringlie’d 8s 103 103% Ivenn. Copper 7s, Feb., ’3O 102% 102% L. & N 7s. ’3O 106 106% Laclede Gas 7s, Jan., ’29.... 95 95% Libby-MeNeil 7s. May, ’31.... 99% 99% Mex. Pet. 8s 101% 101% Minn.. St. P. & S. S. M. 6%5.101% 101% Morris 7%s 103 104 Nat’l Cloak and Suit Ss 99% 99% Nat’l Leather Bs, Nov. 15, ’25.. 96% 97% N. Y. Central 7s, ’3O 105% 105% N. Y. Tel. Ref. 6s. ’4l 102% 102% N. Y. Edison 6%5, ’4l 106 106% Nor. Pac. P. L. 4s 84% 85 Nor. Pac. G. L. 3s 60 61 Nor. Pac 6s 100% 107 Northwestern Bell 107% 107% Packard 8s 99% 99% Pan Amer. Pet. 7s 90% 97% Penn. o%s 105% 100 Penn. 7s 106% 106% Philippine 5%5, ’4l 104% 100% Proctor & G. 7s. Mch., ’23.... 101 % 101% R. J/ Reynolds 6s, Aug.. ’22. .100% 101 Sears Roebuck 7s, Oct. 15. ’22.100 100% Sears Roebuck 7s, Oct. 15, ’23 99 99% Seaboard Con 6s 50 50% Sinclair 7%5, May 15, ’25 99% 100% Solvay & Cie Ss, Oct., ’27 162% 102% Sou. Rv 94% 04% S. W. Bell Tel. 7s, Apr., ’25 101% 101% St. L.-San Fran. P. L. 4s 69 69% St. L.-San Fran. Adj. 0s 70 76% St. P. U D 5%5, Dec. 15, ’23.. 99% 100% S. Oil (Cal.) 7s, Jan., ’31.... 105% 105% S. Oil (N. Y. 7s, Jan., ’25-’31.104 108% S. Oil (N. Y.) 6%5, May, ’33. .106% 106% Steel A- Tube 7s 98 98% Swift 7s, Oct. 15, ‘25 101% 101% Swift 7s, Aug. 15. ’3l 163 103% Texas Cos. 7s, Mch. 1, ’23....101% 101% Tidewater Oil o%s 102% 102% Union Tank Car 7s 10.3 103% IT S. Rubber 7%s 103% 104% Utah Sec. os, Sept. 15, ’22.... 9SJ4 99% Vac'uum Oil 7s 107 167% Vn. Car Chem. 7%s 90% 91 % Western El. 7s, Apr., ’25....106% 100% Westinghouse 7s, May, '31....105% 106% Western Union 6%s 161% 168% Wilson 7%s 96% 90% Winchester 7%s 90% 90%
NEW YORK SUGAR. NEW YORK, Feb. 27.—Raw sugar values were firm on the market here today, Cubas were quoted at 3.70 c per pound, duty paid, and Porto Ricos at 3.70 c duty free, delivered. Refined sugars were steady, fine granulated being quoted at 5.10 c per pound and No. 1 soft at [email protected]. NEW YORK COFFEE. NEW YORK, Feb. 27.—Coffee values were somewhat easier in trade on the market here today, opening options being around 4 points lower. Rio No. 7 on spot sold at B%@9c per pound. NEW YORK RICE. NEW YORK, Feb. 27.—Rice values were somewhat firmer in trade on the exchange here today, domestic selling at 3%@7%c per lb. NEW YORK WOOL. NEW YORK, Feb. 27.—W00l values ruled strong in trade on the market here today. Domestic flece, XX Ohio, was quoted at 33(q!48c per pound, domestic pulled, scoured basis, at 38@90c and Texas domestic, scoured basis, 40@95c. NEW YORK PETROLEUM. NEW YORK, Feb. 27. —Petroleum prices ruled steady in trade on the market here today, Pennsylvania crude petroleum being quoted at $3.25 per barrel, a price at which it has sold for the past month and more. NEW YORK HIDES. NEW YORK Feb. 27.—With trade of a fair nature, hides were steady on the market here today. Native steer hides were quoted at 15%@15%c per pound ind branedd steer hides at 14%@15c. NEW YORK METAL. NEW YORK, Feb. 27.—Copper—Dull; all position offered, 12%c. Lead—Dull; all positions offered, 4%<\ Spelter—Dull; a ;1 positions offered, 5.525 c. NEW YORK TURPENTINE. NEW YORK, Feb. 27.—Turpentine sold at SBc per gallon on the market here today.
GRAINS LOSE EARLY ADVANCES Reports of Snow in Southwest Principal Factor. CHICAGO, Feb. 27.—After a strong opening grain prices slumped on the Chicago Board of Trade today. There was a scramble for wheat in the pit at the opening, with offerings light and an active demand. Reports of snow over the Southwestern wheat belt later had a bearish effect on prices. Trade in corn and oats was active. Provisions were irregular. May wheat opened up 2c at $1.49% and closed off 2%c. July wheat opened up le at $1.27. and closed down l%e. May corn opened up %c at 09%c and closed down l%c. July corn opened up %e at 71c and closed down %c. May oats alter opening up lc at 44c, closed down l%c.' July oats opened, up lc at 45%c, and closed off lc. (By Thomson & McKinnon) —Feb. 27 — Wheat—Liverpool has again shown pronounced strength so far as prices are concerned, but there is a distinct slowing down in new export business to the United Kingdom. It is also, a fact that the amount of passage shows a material increase over last year. The total on passage is 55,000,000 of which 13,090,090 are destined to United Kingdom, 20,000,000 to the continent and 22,000,000 "for orders.” These totals should, and probably will, relieve the Immediate urgency. The strength in Liverpool was reported as sympathetic with American markets and not independent strength as heretofore. Heavy snows have fallen over the Southwest where needed, thereby, relieving tlie tension for the time at least. Domestic Hour trade does not improve, a retlection of which is the slow sale lor poor sorts of cash wheat, some of these selling at extreme discounts under the May. In view of the fact I hat the strength in Liverpool, together witli their ability to absorb all offerings, has been largely instrumental in bringing about our advance. We feel that the character of news from there suggests that it is an opportune time to meet all bulges with realizing sales. The market may not develop any important weakness, for the reason that southern European countries are said to he in the market for round lots. Corn and Oats—The advance in corn is not being followed by the foreign buyer. Shippers here were offering to seabord exporters .at below replacement cost) without finding buyers. It is also reported that a few small lots were cancelled. Fifty cents is now bid at many country stations without uncovering any large offerings, at the same time, the movement from first hand does not decrease and the visible supply has reached a very large total. The market itself gives symptoms of being somewhat strained. There has been further talk of export business in oats but no figures revealed. It is known that such export business as has been done is for heavyweight oars which can not be made from last year’s crop, the demand being supplied from reserves of previous crops. This market, at no time, has had individuality and like corn, now begins to show an over bought position. We believe profit taking sales are in order. Provisions —Hogs contiue to show strength and foreign markets for products were higher. There is no discoverable weakness in the underlying situation but at the same time we feel the advance has gone far enough temporarily. CHICAGO GRAIN TABLE. —Feb. 27WHEAT— Open. High. Low. Close. May.... 1.49% 1.49% 1.47 1.47 July.... 1.27 1-27% 1.25 1-25% CORN— May 08% .70% .67% .67% July 71 .72% .70% .70% OATS— May 44 .44% .42% .42% July 45% .45% .44% .44% roiiK*May 14.00 LARD— May 12.00 12.07 11.95 12.00 July.... 12.15 12.27 12.10 12.20 RIBS — •May 11.00 July.... 11.10 11.22 11.10 11.15 RYE— May.... 1.09% 1.11 3.09 1.09 July 99% 1.01% .99% .99% ♦Nominal. CHICAGO CASH GRAIN. CHICAGO, Feb. 27.—Wheat—No. 2 mixed, $1.40; No. 3 red, $1.42%; No. 2 hard winter, $1.42%@1.43%; No. 3 hard winter, $1.40; No. 4 hard winter, $1.47%; No. .3 mixed, $1.37%®1.37%. Corn—No. 2 mixed, 3@o4>-'.: No. 2 winter. 63©04%; No. 2 yellow, 63@65%e: No. 3 mixed, 61% @62e; No. 3 white, 62®G3c; No. 3 yellow, 61%@63c; No. 4 mixed, 60®62c; No. 4 white, 62c. Oats—No. 1 white, 45® 46%c; No. 2 white. 42@43%c; No. 3 white, 37%@40e; No. 4 white, 30%®37%c.
TOLEDO GRAIN PRICES. TOLEDO, Feb. 27.—Wheat—Cash. $1.47 @1.49; May, $1.55; July, $1.28% Corn— Cash 66@G7c. Oats—Cash, 43@45c. Bye —Cash, SI.OB. Barley—Cash, 68c. PRIMARY MARKET. (By Ihimson & McKinnon.) —Feb. 27 —RECEIPTS — Wheat Corn Oats St. Joseph .... (50,090 98,009 0,009 Chicago 37,000 742,000 271,000 Milwaukee .... 0,000 218,000 18,000 Minneapolis ..459,000 294,000 193,000 St. Louis 101,000 218,000 248,000 Toledo 7,000 24,000 8,000 Detroit 12,000 18,000 8,000 Kansas City ..370,000 238,000 31.000 Omaha 76,000 120,000 30,000 Indianapolis ... 5,00 71,000 42,000 Totals 1,232,000 2,041,000 945,000 Year ago ..1,853,000 2,148,000 817,000 —SHIPMENTS— Wheat Corn Oats St. Joseph .... 16,000 20,000 6,000 Chicago 42,000 955,000 192,000 Milwaukee .... 6,000 65,000 75,000 Minneapolis .. • 66,000 47,000 43,000 St Louts 73,000 85,000 78,000 Toledo 12,000 9,000 5,000 Detroit 5,000 4,000 Kansas City ..204,000 26,000 12,000 Omaha 70,000 98,000 30.000 Indianapolis .. 1,000 38,000 4,000 Totals 490,000 1,348,000 449,000 Year ago .. 400,000 750.000 365,000 —CLEARANCES— Wheat Corn Oats Philadelphia .. 6,000 80,000 Baltimore 221,000 574,000 New Orleans .. 45.000 163,000 Totals 275,000 823,000 Year ago ..1,347,000 357,000 INDIANAPOLIS CASH GRAIN. —Feb. 27Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat —Strong; No. 2 red, [email protected]. Corn —Strong ; No. 3 .white, No. 4 white, G2@63c; No. 3 yellow, 63@ 6314 c; No. 4 yellow, 61 1 ,4@G2;4c; No. 3 mixed, 63@63%c; No. 4 mixed, 6114@ 6214 c. Oats—Strong: No. 2 white, 41J4@44%c; No. 3 white, 39!4@40%c. Hay—Weak; No. 1 timothy, [email protected]; No. 2 timothy, $10.50@17; No. 1 light clover mixed, [email protected]; No. 1 clover, $lB 50 @19.50. —lnspections Wheat—No. 2 red, 2 cars; No. 3 red, 1 car; No. 5 red, 2 cars; total, 5 cars. Corn —No. 3 white, 8 cars; No. 4 white, 5 cars; No. 5 white, 3 cars; No. 8 white, 3 ears; No. 3 yellow, 3 cars; No. 4 yel-' low, 4 ears; No. 5 yellow, 7 cars; No. 0 yellow, 8 cars; No. 3 mixed, 3 cars; No. 4 mixed, 1 car; No. 5 suixed, 1 car; No. 0 mixed, 2 cars; total, 48 cars. Oats—No. 1 white, 3 cars: No. 2 white, 4 cars; No. 33 white, 16 cars; No. 4 white, 4 cars; No. 3 white 16 cars; No. 4 white, Rye—No. 2, 1 car. Hay—No. 2 timothy, 1 car. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today were paying $1.30 per bushel for No. 1 red winter wheat; $1.28 for No. 2 red winter and according to test for No. 3 rod winter. Oats were quoted at 27c per bushel for No. 3 white or better. HAY MARKET. The following are the Indianapolis prices for hay by the wagn load, delivered : Hay-Loose timothy, $lG.OO@l7; mixed hay. $15@16; baled hay, $16@!17. Oats—New, per bushel, 35@38c. Corn—New, per bushel, 50@55c. Corn—Old, per bushel. 45@50c. WHOLESALE BEEF PRICES. The following are today’s wholesale price for beef cuts are sold on the Indianapolis markets of .Swift and Company: Ribs —No. 2,22 e; No. 3,15 c. Loins —No. 2,25 c; No. 3,18 c. Round —No. 2. 15c; No. 3,13 c. Chucks—No. 2,10 c; No. 3,9 c. Plates —No. 2,8 c; No. 3, Bc.
LIGHT SWINE PRICES WEAK Cattle Values Steady tc 25 Cents Lower—Calves Down. RANGE OB HOG PRICES. Good Good Good Feb. Mixed. Heavy. Light. IS . $10.25 @ 10.50 [email protected] [email protected] 20. 10.75 @ 11.00 [email protected] [email protected] 21. 10.85 @ll.OO [email protected] [email protected] 22. 10.75 @ 10.80 [email protected] [email protected] 28. 10.90 @ 11.00 10.70 @ 10.90 [email protected] 24. 11.00 @11.15 [email protected] [email protected] 25. [email protected] 10.75 @ 11.00 [email protected] 27. 11.00 @11.15 10.75@ 11.00 [email protected] Swine prices ruled steady to 10 cents lower in trade on the local livestock exchange today, with receipts around 5,000 and the demands by both packers and ' shippers good. Values were steady generally, but there were spots in the sales of light swine that were around 10 cents lower. There were not the number of sales of light swine at $11.35 that there were on the closing market of the previous week, while the practical top was $11.35. Many of the light swine that would have brought $11.35 on last Saturday’s market brought only 511.25. There was a good demand for mixed, mediums and heavies at steady prices. I'igs were about steady, as were roughs and stags. The bulk of sales for the day ranged at $11®11.25. Trade in cattle was somewhat slower than of the closing market of the week before, and prices showed weak spots. Values ruled steady to 25 cents lower in some cases of sales of bulls and steers. Other grades of cattle were steady to weak. Receipts for the day approximated 1,400 fresh, with but few stale cattle held in the pens from previous markets. Packers showed fair demands, but at weaker prices. Calves were 50 cents lower, with the demand slow. Eastern markets off. the quality fair and receipts close to 600 for the day. Sheep and lambs were steady, with receipts light, the quality extremely poor and the demand fair. HOGS. 160 to ISO lbs average [email protected] Over 300 lbs [email protected] 150 to 300 lbs 10.85® 11.35 Best pigs, under 140 lbs [email protected] Stags 5.50@ 6.50 —Cattle— .. Prime corn-fed steers, 1,200 to I,SOO lbs 7.50@ 8.50 Good to choice steers, 1,200 to 1,309 lbs 7.00® 7.25 Good to choice steers, 1,100 to 1,200 lbs 6.25@ 6.50 Good to choice steers, 1,000 to 1,100 lbs... 6.00® 6.25 Common to medium steers, 800 to 1,000 lbs 5.25@ 5.75 —Cows and Hellers— Good to choice heifers 6.75® 7.75 Medium heifers 6.25® 7.00 Common to medium heifers.. 5.00® 6.00 Good to choice cows 4.00@ 5.75 Fair to medium cows 2.50® 4.00 Cutters 3.00® 4.75 Canners 3.00® 4.00 Bulls— Good to choice butcher bulls. 4.25® 5.50 Bolonga bulls 3.75® 4.25 Light bologna bulls 3.00® 3.50 Light to common bulls 2.50® 3.25 —Calves— Choice veals [email protected] Good veals [email protected] Medium veals 7.00@ 9.00 Lightweight veals 6.00® 7.00 Common to heavyweight veals 5.00® 6.00 —Stockers and Feeders— Good to choice steers under 800 lbs 4.75® 5.50 Medium cows 2.50@ 4.00 Good cows 3.75@ 4.50 Good heifers 5.00® 6.50 Medium to good heifers 4.00® 4.75 Milkers [email protected] —Sheep and Lambs— Ewes 2.00® 6.00 Bucks 2.50® 4.50 Good to choice lambs [email protected] Seconds 8.00®10.00 Buck lambs 7.00@ 7.50 Culls 4.00® 7.00
Other Livestock
CHICAGO. Feb. 27.—Hogs—Receipts, 5S.000; market mostly 10@20c higher; bulk of sales, $10.75@ 11.15; top, $11.25; heavies, $10.75@11; mediums, $10.90@ 11.15; lights, $ll@l!.2o; light lights, $10.59 @11.20; htavy packing sows, smooth, $9.65 @10.25: pteking sows, rough, [email protected]; pigs, [email protected]. Cattle —Receipts, 16,000; market fairly active and strong to higher; beef steers, choice and prime, [email protected];'medium and good, [email protected]; good and choice. [email protected]; common nrd medium, [email protected]. Butcher cattleheifers, $4.75 —8; cows, [email protected]; bulls, bulls, [email protected]. Canners and cutters—• Cows and heifers, [email protected]; eanner steers, [email protected]; veal calves, light and handy weight, $8.15@12; feeder steers, [email protected]; stocker steers, [email protected]; Stocker cows and heifers, [email protected]. Sheep and lambs—Receipts, 24.000; market, steep steady and lambs slow to 25c lower; good to choice lambs, $13.25@16: cull and common lambs, $10@13: yearling wethers, [email protected]; ewes. [email protected]; cull and common ewes, $3@C; feeder lambs, [email protected]. CINCINNATI, Feb. 27.—Hogs—Receipts, 8,000; market strong; heavies, $10.50@11; mixed, mediums and lights, $11.25; pigs, $10; roughs, $8.25; stags, $0.50. Cattle —Receipts, 8,100; market steady generally; bulls, steady: calves, sl2. Sheep and lambs—Receipts, 150; market steady; ewes, sl@7; bucks, $4.50; choice lambs, sl6; seconds, sl2; culls, $6 @B. CLEVELAND, Feb. 27.—Hogs—Receipts, 5,300; market 10@20e higher; yorkers and mixed, [email protected]; mediums, $11.25; pigs, $11.50; roughs, $8.75; stags. $6.25. Cattle—Receipts, 1,200; market steady; good to choice steers. $7.50@ 8.00; good to choice heifers, [email protected]; good to ehice cows, s4@s; fair to good cows, s3@4; comon cows s2@3; good to choice hulls, ss@o; milkers, $35@73. Sheep and lambs—Receipts, 1,000; market steady; top. $15.75. Calves—Receipts, 600; market slow; top, $13.50. EAST ST. LOUIS, Feb. 27—Hogs—Receipts, 15,000; market 15@25c higher; mixed and butchers, [email protected]: good heavies, $10.75@11; roughs, [email protected]; lights, [email protected]; pigs, $9.90@11; bulk of sales, [email protected]. Cattle—Receipts, 4.500: market steady; native beef steers, [email protected]; yearling steers and heifers. [email protected]: cows, [email protected]; Stockers and feeders, $3.50@7; calves, $3.50@11; canners and cutters, [email protected]. Sheep and lambs —Receipts, COO; market steady, nnrtton ewes, [email protected]; good to choice lambs, [email protected]; canners and choppers, sl@4. EAST BUFFALO, Feb. 27.—Hogs—Receipts, 14.4C0; market, active; yorkers, [email protected]; pigs. [email protected]; mixed, ([email protected]; heavies, [email protected]; roughs. [email protected]; stags, [email protected]. Cattle —Receipts, 2,373; market, active and mostly steady; shipping steers, $S@ 8.73; butcher grades, [email protected]; heifers, [email protected]; cows, [email protected]; bulls, [email protected]; feeders, S4.SO@G; milk cows and springers, $23@125. Calves—Receipts, 2,500; market, active; cull to choice, $5(5)15. Sheep and lambs—Receipts. 12,500; market, active and steady; choice lambs, $15@16; cull to fair lambs, [email protected]; yearlings, [email protected]; sheep. $3(510. PITTSBURGH, Feb. 27.—Hogs— Receipts. 9,000; market. 15 to 20c higher: prime heavies, [email protected]; mediums. $11.65 @11.70; heavy yorkers. [email protected]; heavy yorkers, [email protected]; light yorkers, $11.65 @1.70; pigs, [email protected]; roughs, SS.SO@ 9.25; pigs, [email protected]. Cattle—Receipts. 1.500; market, 10 to 15c higher; choice. $S @8.25; prime, $7.50@8; good, $7.25@8; tidy butchers, [email protected]; fair, $6.50@7; common, $5@'6.25: common to good fat bulls, [email protected]; common to good fat cows, [email protected]; fresh cows and springers, SSO @BS; veal calves, sl3; heavy and thin calves, [email protected]. Shep and lambs—Receipts, 2,000; market, steady; prime wethers, [email protected]; good mixed, [email protected]; fair mixed, [email protected]; culls and commons, $2.50@4; choice lambs, $13.25. CLEVELAND PRODUCE. CLEVELAND, Feb. 27.—Butter—Extra in tubs, 43@4314c; prints, 44@44V'-c; extra firsts, 42@42t4c, packing stock, 17@ 19c. Eggs—Fresh gathered, northern extras, 30c; extra firsts, 29c; Chios, 27c; western firsts, new eases, 27c. Poultry —Live, heavy fowls, 28@30c; spring culls, 23@26; spring ducks. 27ft/28c. Po-tatoes-Ordinary, [email protected] per 150-lb. bag; Michigans, $2.95; early Ohios, $2.10 per 120-lb. bag; Red Rivers, $2.40 per 120-lb. bag. Sweet potatoes—Delawares, [email protected] per hamper.
Local Stock Exchange
—Feb. 25 STOCKS. Bid. Ask. Ind. Ry. & Light com 60 Ind. Ry. & Light pfd 75 Ind. St. Ry 41 46 Indpls. & N. YV. pfd 60 Indpls. & S. E. pfd 00 T. H. T. & L. pfd 67 H. I. & E. com 6 T. 11. I. & E. pfd 15 U. T. of Ind. com U. T. of Ind. Ist. pfd. ....... 7 U. T. of Ind. 2nd pfd 2 Advanee-Rumley com Advance-Rumley pfd ... Am. Cresotlng pfd 93% ... Am. Central Life 190 Belt. It. It. com 66 Beit. It. R. pfd 49% ... Central Bhlg. Cos. pfd 93% ... Citizens Gas Cos 22 ... City Service com 175 City Service pfd 53 Dodge Mfg. Cos. pfd 86 Home Brewing 44% ... Ind. Hotel com 75 Ind. Hotel pfd 97 Indpls. Nat. Ins. Cos 2 Ind. Title Guarantee Cos 71 Indiana Pipe Lines 92 indpls. Abattoir pfd 47% ... Indpls. Gas 45% ... Indpls. Tel. com 2 Indpls. Tel. pfd 90 Mer. Pub. Utl. pfd 48% ... Nat. Motor Car Cos 1 3% Pub. Sav. Ins. Cos 4% ... Raun Fer. pfd 47% ... Stanu. Oil of Indiana Sterling Fire Ins. Cos 6% ... Van Camp Hdw. pfd Van Camp Prod. Ist. pfd 100 Van Camp Prod. 2nd. pfd 100 Vandara Coal Cos. com Vamlalia Coal Cos. pfd 0% ... Wabash Ry. pfd 23 Wabash Ry. com 7 BONDS. Broad Ripple 5s 60 Citizens St. Ry. os 73 76 Indian Creek Coal & Mine. ... 100 Ind. Coke & Gas 5s 86 Indpls. C. & S. 5s 89 Indianapolis North 5s 37% ... Indpls. & Martinsville 5s ... 59 Indpls. & N. W. 5s 47 Indpls. & S. E. 5s 45 Indpls. Shelby & S. E. 5s 75 Indpls. St. ity. 4s 59 62 T. H. I. & E. 5s 50 U. T. of Ind. Cs 40 Citizens Gas Cos. 5s 85 Indpls. Gas Cos 84 89 Kokomo, M. & W. 5s 83% ... Ind. Hotel Cos. 3d 5s 95 Indpls. L. & H. 5s 86 Indpls. Water Cos. 4%5, .... SO Indpls. Water 5s 94 98 Mer. H. & L. Os 96 100 New Tel. Long Dist. 5s 95 New Tel. Ist. 6s 95 Sou. Ind. Power 6s 88% Indpls. T. & T 75 ... •Ex-dividend 3 per cent semi-annual. LIBERTY BONDS. Liberty, first 3%s 96.70 97.30 Liberty, first 4%s 97.14 97.30 Liberty, second 4%s 90.84 97.00 Liberty, third 4%s 97.80 Liberty, fourth 4%s 97.28 97.30 Victory, 3%s 99.86 Victory, 4%s 100.00 100.26 —Sales—s3oo Liberty, third 4%5, at $95.00 Local Curb Market (By Newton Todd.) —Feb. 27 Am. Hominy Com 14 22 Central and Coast 0i1........ % ... Choate Oil Corp % 1 Citizens Gas Cos. pfd 94 ICO Columbian Fire Ins. Cos 6 7% Comet Auto % 2 Dayton Rubber Units 45 52 Dictograph Prod, pfd 29 34 D. W. Griffith 6 6% Elgin Motor Car 1% 3 Fed. Fin. Cos. pfd 77 S7 Fed. Fin. Cos. com 125 135 Gt. Sou. Prod. & Ref 5 5% Goodyear T. & K. com 10 12 Goodyear T. & R. pfd 25 28 Ind. Rural Credits 50 60 Metro. 5-10 c Stores com 4 5 Metro. 5-10 c Stores pfd 19 23 Nat. Underwriting 2% 4 Rauch & Lang Units 24 29 Rub.-Tex. Units 13 18 Stevens-Duryea Units 21 28 U. S. Auto. Units 51 60 U. S. Mfg. Cos. Units 147 157 BANK STOCKS. Commercial Nat. Bank 71 SI Cont. Nat. Bank... 160 116 Ind. Trust Cos 175 190 Ind. Nat. Bank 200 276 Mer.. Nat. Bank 280 Security Trust Cos 130 State Sav. & Trust 92 98 Union Trust Cos 300 Wash. Bank & Trust Cos 150
Weather
The following table shows the state of weather at 7 a. m., Feb. 27, as observed by U. S. Weather Bureaus: Station Bar. Temp. Weath. Indianapolis, Ind. 30.15 32 Cloudy Atlanta, Ga., 30.10 48 Cloudy Amarillo. Texas .. 30.12 24 Snow Bismarck, N. D. ... 30.82 —2O Clear Boston, Mass 30.18 32 Snow Chicago, 111 30.20 32 Cloudy Cincinnati, Ohio .. 30.10 34 Cloudy Cleveland, Ohio .. 30.06 30 Rain Denver, Colo 30.36 12 Snow Dodge City, Kas. . 30.44 12 Snow Helena, Mont 30.62 —2 Clear Jacksonville, Fla. . 30.16 62 Rain Kansas City, Mo. . 30.38 24 Cloudy Louisville, Ky. ... 30.10 36 Cloudy Little Rock, Ark. . 30.16 42 Cloudy Los Angeles. Cal. .. 29.92 46 Clear Mobile, Ala, 30.04 66 Cloudy New Orleans, La. .* 30.04 64 Cloudy New York. N. Y. .. 30.04 34 Rain Norfolk, Va 30.0.8 42 Rain Oklahoma City ... 30.22 36 Cloudy Omaha, Neb 30.56 S Cloudy Philadelphia, Pa. .. 30.06 36 Cloudy Pittsburgh. Pa. .. 29.9S 42 Cloudy Portland, Ore 30.36 30 Clear Rapid City, S. D. . 30.78 —lO Clear Roseburg, Ore. ... 30.26 38 Cloudy San Antonio, Texas 30.02 48 Cloudy San Francisco, Cal. 30.06 46 Clear St. Louis, Mo. . .. 30.22 34 Cloudy St Paul, Minn. ... 30.50 —lO Clear Tampa, Fla . 30.10 68 Cloudy Washington, D. C. 30.06 38 Cloudy WEATHER CONDITIONS. A depression in middle- .vestern Canada Saturday morning movod southeastward during Sunday to the middle Atlantic coast, and a field of high pressure, accompanied by cold wave conditions, lias advanced in its rear, and now covers most of the Missouri and upper Mississippi Valley region. Zero temperatures have pushed southward to the nothern portions of Nebraska and lowa, while readings of 25 degrees to 32 degrees below zero are reported from North Dakota and eastern Montana.. A disturbance of considerable energy has pushed in over the north Pacific coast to the southwestern Plateau. Precipitation has occurred in the middle and southern Pacific and middle Rocky Mountain States, and generally from the Mississippi River States eastward. J. H. ARMINGTON. Meteorologist Weathr Bureau. CHICAGO PRODUCE. Chicago, Feb. 27.—Butter—Receipts. 6.932 tubs; creamery, extras. firsts, $31@35)4c; packing stock. 15@17c. Eggs —Receipts, 22.000 cases: current receipts, 522@23c; ordinary firsts, 20@21c: firsts, 24c: checks, 19@20c: dirties. 20@210. Cheese —Twins, new, 20%e; daisies. 21@ 22%e; young Americans, 21c; longhorns. 22%@22%c; bricks, 17@17!ftc. Live poultry—Turkeys, 35c; chickens. 27c; springs, 28c; roosters, ISc: geese, ISc; ducks, 2Sc. Potatoes—Receipts. 59 cars; Wisconsin round whites. $1.80(52: Minnesota round whites, [email protected]; Idaho russets. $2 30@ 2.35. INDIANAPOLIS PRODUCE. Eggs—Loss off. 23@24c. Butter—Packing stcck, 13c. Poultry—Fowls. 17@22c; springs, 20@22c: cocks, 13@14c: stags, 13@14c; capons, 7 lbs and up, 30c; capons, under 7 lbs. 20c; capcn slips, 7 lbs and u’p, 20c; canon slips, under 7 lbs, 21@25c; young hen turks, 8 lbs and up, 35@40c; young tom turks. 12 lbs and up. 35@40c; old tom turks. 30@33c: cull thin turkeys not wanted; ducks, 4 lbs and up, 16ftfl8c; geese, 10 lbs and uo. 1 14c; squabs, 11 ibs doz. $5; young guineas, 2-lb size, per doz. [email protected]; old j guineas, per doz, $3. Butter —Local dealers are paying 37@ 38c per lb. for butter, delivered in Indianapolis. Butter Fat—Local dealers are paying 36c per lb. for butter fat, delivered in Indianapolis.
SUN YAT-SEN TO LABOR FOR MODERN CHINA Secretary of Canton President Says Nation May Have Disorder Epoch. SHANGHAI, Feb. 27.—“ President Sun Yat-Scn and his co-workers who founded the Chinese Republic have never had • chance of ruling China as a republican State and showing what the progressive section of the nation could do in the work of modern government,” Dr. Eugene Chen, secretary to the President of Canton government, said in why the government of the south was fighting so rcontrol of all China. “Unless this fact is realized and deeply borne in mind, you—the friende of China in America —will see nothing but disorder and futility and incapacity in a phase of the nation's life which. I assert, exceeds in promise and potency the richest age of European history. “The Republic, on its cultural side, marks the beginning of a real renaissance in China, which might even rival—in the sphere of the mind and morals—the achievement of the great epoch in Europe covering the fifteenth and sixteenth centuries. “And as the West could not be what it is today if the Greek mind had not fed it, so is there the promise of a Chinese assimilation of the same cultural food through the Republic as an American, and, ultimately, as a Helenic thought. “We were an original mind, with a civilization and culture of our own. In the past we gave—we hardly ever received. Today—through the Republic—we are receiving for the first time in our long recorded history. But, his thin, intelligent face lighting, we fhail pay back in ample measure.” “What about the division in the leader class In China?” I asked. "True, the leader class In China Is today divided,” answered Mr. Chen. “And this division is important. One section of it believes in the Chinese Republic: (a) as a deliverance of the Chinese people from the Manchu conquest and as a constitutional guarantee against thJtf Manchu or other imperial and (b) as an instrument which can secure the modernization of China in terms of Western political and economic thought, without injury to the foundation of the State as the historical product of Chinese cultural forces. “This section is meant when reference is made to the 'Southern leaders.’ The other and rival section of the leader class Includes the elders of the Mandarinate and the feudal chieftains of the Tucbunate. They are sometimes referred to as the ‘Northern leaders.. ” “What is the meaning of ‘North’ and •South,?” “The terms ‘North’ and ‘South,’” said Mr. Ches, “have a political, not a geographical, content. Some of the most sinister leaders of the ‘North’ are Cantonese, while some of the leading figures of the ‘South’ axe from a provice like Chiehli, in which Peking itself is situated. “The terminology is explained by the ’act that the provinces at or south of the historic line of the Yangtsze were the first to declare for the republic and are regarded generally as being more progressive, politically, than those north of the line. “In terms of political action, the central difference between these two sections of the governing forces of China is seen in their respective attitudes toward the parliamentary system as an instrument of government. “The ‘South’ affirms the poliU .1 and psychological necessity of the Chinese people as a whole cooperating in the work of modernizing China as an effective tate unit which, at the present stags of man's political thought and can be done only through the machlnerjH of parliamentary government. “On the other hand, the ‘North' —so I ar as its policy can be iutellectualized — appears to deny the capacity and adequacy of the parliamentary instrument so to modernize China, and therefore relies on the rule of the strong man.
MORMONISM NOT FAVORED IN ENGLAND Newspapers Ask Expulsion of Missionaries From Country. LONDON, Feb 27.—Mormanism Is under fire in London, an<J weird tales of conditions In those sections of the United States where the Mormons have settled are edifying the English newspaper readers at their breakfast tables. Periodically London newspapers open fire upon the Mormon missionaries in England, and for a few weeks demand their expulsion from the country. The present winter campaign is on in full blast, and the newspapers conducting tho siege have made frantic demands that the Home Office deport all Mormons in England, making serious charges. “White Slave Secrets of the Mormon . Invasion” and other alluring catch the newspaper readers’ attention,™ but of chief interest for Americans in London are the weird stories of Utah. Writers of the most exciting movie scenarios have been outdone by the writers on London newspapers, who have described night raids by Mormons on Western ranches and fights between Mormons, who were carrying off the women folk of ranchers, and mounted cowboys. Salt Leke City Is described as a den of iniquity, entirely In the clutches of the Mormons, and there have been descriptions of precautions taken by the Mormons to prevent the escape of women from Salt Lake. In the Cotton Market NEW YORK. Feb. vl.— Orders wore about evenly distributed at the opening of the cotton market here today and first prices were unchanged to 5 points higher. Wall street, Japanese and local interests bought, partly on strength in Sterling and in the stock market Spot houses and the Sou.h were moderate sellers. Shortly after the start, the list became strong and advanced fully 20 points over Saturday’s close on new purchasing, partly for western and New Orleans account. New York opening cotton prices: March, May, 18.25 c; July, 17.56 c; October, 16.80 c; December, 16.70 c bid. The market was easier in the late dealings but turned slightly firmer rear the close, which showed a net loss of 6 to 19 points. —Cotton Futures— Open High Low Close January 16.74 10.74 16.39 16.33 „ March 18"0 18.76 18.35 15.44 J Mav 18.25 18.46 18.04 18. ll! July 17.56 17.71 17.31 17.41 October 16.88 17.02 16.03 16.70 December 10.80 16.88 16.48 16.33 LIVERPOOL. Feb. 27.—Spot cotton opened in good demand today. Prices were steady and sales around B.COO bales. American middlings fair. 12.26d: good middlings, 10.!>7d; full middlings. lO.OTd: middlings 10.32d: low middlings. 9.37 U: good ordinary, 8.12d: ordinary, 7.37(1. Futures opened quiet. TOLEDO SEED TRICES. TOLEDO. Feb. 27.—Clorcrseed—Cath, sl6: February, sl6: March, $15.93; April, $14.65: October. sl2 35. Alsik —Y.sh, $12.85: February, sl2 65: Ma-vn, sl2 65. Timothy—Cash. $3.15; February, $3 10; March, $3.15 bid; May. $3.23 bid; September, $3.40.