Indianapolis Times, Volume 34, Number 278, Indianapolis, Marion County, 1 April 1922 — Page 11

11,1922.

HShke alarm vails That Nation's |||fS Supply Will Hold s Out. OF MONEY Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK. April I.—Today session of the stock market Is again productive of renewed strength and activity, with transactions exceeding a million shares. There were occasional periods of profittaking which gave a brief appearance of irregularity, but the Undertone was unmistakably firm and advances largely preponderated, with gains ranging from one to five points. Short covering figured prominently in the day’s trading for undoubtedly certain powerful traders had anticipated more of a reactionary response to the prospect of pC coal strike certainty. The evidently has registered a eonlinion.I inion. based largely on the Sat fuel supplies are ample for th near future, especially when conjunct!, u with the output Mn-unlon miners. The strong favored by the abunHHfl ease of money has added MHBHH;: -v r; ' jPjf w* - >T‘> i • for the week was a Iffair, showing a recession from ils and specialties figured most ly In today’s trading. Tho >d within narrow limits, with don of a few issues, among re Pittsburgh and West Virigh Valley and Baltimore & ■ket derived Its characteristics tction of such stocks as StudeCelsey Wheel. International ullins Body and a few of the cellaneous Issues such as SavUnited States Castlron Pipe, i were fairly active, but later egular on profit taking. A resent out by one large firm preIverse action on the dividend iem Steel "B," at the meeting he coming week. Such a step t be considered exactly conh the statement recently issued iem. touncement that the Porphyry nes would be reopened immedi1 complete shutdown of many had little effect on the stocks of group —Copyright, 1922, by the P’JbCompany.

■ Stock Market Review ■W YORK. April I.— Stocks showed Burst of strength about midway High the second hour on the New B Stock Exchange today after heavy King sales had given the market an tone during the early trading. Hies like General Asphalt. Mexican Bleum. Piero*. - Arrow common and the Barnstall stocks and InCombustion Engineering forward very easily and the genresponded in a way that showed h| reaction in Friday’s :ate tradHs explainable on technical grounds. H no manner changed the views that market was in progress. SB department stores scored a big fSWnd there was evidence of wide acin stocks like Manhattan Cluett-Peabody. closed Irregular. HSyEjSaSSoi.i:. PKonrcE. discount; co-ks. i:;®l4c; turks. lbs. and up -'i+oj.(.> : turks. 12 lbs. up. sHHQHrks. 2S®3oc : cull thin turkeys JLtthEp] ; ducks. 4 lbs. and up lOdr^ir ; nEf.rtf- and up- 13'dUc; sejuabs. u s3.so®6.i*i: ' id guineas p-r Leal dealers are paying 38® for butter delivered In In■gfl'i —Local dealers are paying Ud.butierfa; delivered in Indianif Hwcago prodi ce. April HH; creamery extras, 3'V ; stand firsts, 33%®35%c ; packing (Rgßilv. Eggs—Receipts, S.7uo ■■H' M receipts, 22%®23”; ordi:>- ; ® 23 % c dirties, 2fi t 5 y 21c. 1 c daisies, 18® .Anif-ri' a c . .l d.2 : h.ngbnrn*. 1 Live poultry ■ 30c; chickens. 27c; s; ri-.g. clicks. *fI3HS'”S. ‘‘‘ ' : 1 per I.VI in i.e.g ; i. • ? i Idaho Russets. $2 19®2.23. NOTICES. Preceding Page. , QBBjß'.’ar of the guardianship cl Marv GCA P. PI AN S SALE Op REAL ESTATE. guardian by virtue nt Mar: r. IT ‘lilt Court r-a ’• JccJ/jB Ir. tiie above entitled cause of March. 132?, hereby Thursday, the 6th IV' 19 22. at 1“ o’ clo< k a. m. ot w: : i offer at a private sai i 1 ■ appraie- i value 'here • HRh|i Thirty-eight f2S i In Me. j£f\2 -TC” s su’. divlslor. of twenty-elpht fejryJdNVlapolie. Marion fourty. InJvMHH'' known as sl‘ Chadwick >&*£&*&* MCLVIHILIs ' Guardian. gSHfijftfS 'NANC'AL >S2® : ’&?|iblished 1894. Wgk 6L SAWYER ajfiKEgS endian Life Bldg., St. IgsgllACE LiSSSI E BSTBASIB tg&pgfSTMEHIS mnti: T™-X\ r RT. A ES I’CKt iIASED PAPER PUIit’HASED. Sv\Cl E RENTS ON LEASES. our new plan. L ~ R - MAIN 3868. J^^Sloans 3 . live etoca. and other collateral. LOAN CO. Washington St. Tjt&K Auto Lincoln 7184. ttcord mortgage* on and Indianapolis real AND IN VEST’T CO. ■ > Trust bldg. 9MI mortgages on Indiana hrrea> estate. K B WILr -y_ s t Main 18U i.r M* iVBtB I mo ’.gages l„ B Delaware it Main STH

N. Y. Stock Exchange (By Thomson & McKinnon) —April 1 — Prev. High. Low. Close, close. Ajax Rubber... 17% 17% 17% 17% •Allied Chemical 64% 63% tH% 61 Allis-Chalmers.. 46% 46 46% 46% Am. Beet 5g.... 40% 40% 40% 40 Am. Bosch Mag. 44% 44% 44% 44 Am. Can 47%, 47% 47% 47% Am. Car and P. 156 155 155 155% Amer. Ice 107 106% 107 15% Am. In. Corp... 43% 42% 43 43% Am. Locomotive 110% 110 110 111% Am. Steel Fd... 37% 36% 36% 36% A. Smelt and R. 53% 53 518% 53% Am. Sg. Ref.... 72 71% 71% 72% Am. Sum. T. Cos. 32% 32% 32% 32% Am. Tel. & Tel. 121% 121% 121% 121% Am. Tobacco ..137% 137% 137% 136% Am. Woolen .. 88% 87% 87% sk Anaconda 51% 50% 51% 51 Atchison 07% 97% 97% 97% Atl. Coast Line 95 95 95 94% Atl. Gs. &W. I. 30% 30 300% 29% Austin Nichols 26% 25% 25% 26% Bald. Loco 111% 110% 110% 111% B. and 0 41% 41% 41% 41% Beth. Steel (B) .74 73 73% 74 Brook. Rp. Trs. 18% 17% 17% 17% Cal. Pete 54% 52% 54% 52% Can. Pac. Ry. .136% 138% 136% 136% Cent. Leather .37 36% 36% 37 Chand. Motor .. 75% 74% 75% 75% C. and 0 62% 62% 62% 62% Ch. M. & St. P. c. 23% 23% 23% 23% Ch. M. & St. I*, p. 39 37% 38% 37% Chi. and North. 70% 70% 70% 71% Chi. R. I. & P.. 40% 40% 40* 40% C R I & P. 6% p.BO SO at 7H% C R I & P. 1% p. 93 93 93 93% Chill Cop 17% 17% 17% 17% Chjno Copper .. 28% 27% 27% 28 Columbia Gas , 83% 83% 83% 83% Coca Cola 49 48% 48% 48% Col. Fuel & I. . 30 30 30 30% Con. Gas 109% 108% 108% 109% Con. Can ...... 61% 61 61% Corn Prod. ...107 106% 107 106% Crucible Steel . 57% 56% 56% 67 Cuban Am. S. 22% 21% 21% 22 Cuban Cane S. .15 14% 15 15% Del. & Hud. ...118% 118% 118% 117% Del. & Lack. ..115% 115 115% 115% Dome Mines ... 26 26 26 20 Erie 11% 11% 11% 11% Endicott & J. . 83% 83% 83% 83% Famous Players 81 80% 83% 80% Flck Rubber Cos. 17% 16% 17 17 Gen. Asphalt . 63% 60% 63% 61 Gen. Electric. ..157% 175 175% 156% Gen. Motors... 10% 10% 15% 10% Goodrich 40% 4040% 40% Gt. North, pfd. 72% 72% 72% 72% GL North. Ore.. 36% 36 36 36% Gif. Sts. Steel.. 71 70% 71 70% Houston 0i1... 76% 74 ”6% 75% Illinois Central.lo2% 102% 102% 102% Indlahoma .... 3% 3% 3% ..... Inter. Harvest. 96% 96% 98% 97% Inter. Nickel... 16% 16% 18% 16% Inter. Paper — 48% 46 46% 36% Invincible Oil.. 19 18% 19 19 Kelsey Wheel..los 104% 104% 106% Kelly-Spg. Tire. 47% 46 47% 45% Kenct. Copper.. 20% 29% 29% 33 Lacka. Steel... 51'* 51% 51% 56% Lee Tire & Rub. 33% 33% 33% 33% Lima Loco 11l 110% 110% 110% Lehigh Valley... 60% 60 60 60 Loews Inc 15% 15 15% 15% Martin-Parry .. £50% 29% 29% 28% Marine com 16% 16% 16% 17 Marine pfd. 72% 72 72 72% May Stores 119 117 118 116% Maryland 0i1... 25% 25% 25% Mex. Pete 121% 119% 121% 120% Mid. S. Oil 13% 13% 13% 13% Midvale Steel.... 33% 33 33 % 33% Mo. Pac. Ry.. 22% 22% 22% 22% M. Pac.Ry.pfd.. 54% 54% 54% 54% Mont. & Ward.. 17% 17 17 16% Nev. Con. Cop. 15% 15% 15% 15% N. Y. Airbrake.. 67% 67% 67% 66% N. Y. Central.... 87% 8)% 86% 86% New Haven 21 20% 20% 20% Nor. & West... 103 103 103 ' 103 Northern Pacific 75% 75% 75% 75% Okla. P. A R... 2% 2% 2% 2% Owen Bottle .32 31% 31% 32 Pacific 0i..l 52% 49% 52% 49% Pan. Am. Pet... 55% 54% 55% 55 Penna. Ry 39% 39% 39% 39% People’s Gas ... 83% 83 83% 83% Pere Mara 29% 29% 29% 29% Pierce-Arrow .. 19% 17% 19% 17% Pierce Oil 9 s% 9 8% Pullman Car .. 122% 121% 122>4, 122% Pure Oil 31% 34 31% 31 % Ry Steel Spgs.. 98% 98% 98% 98% Reading 75 74% 75 75 Rep. Iron Steel. 52% 52% 52% 52u. Replogle Steel . .31 31 31 31 " Rojal Dutch .. 545, 53% 51% 54 Sears Roebuck 75% 74% 74% 74% Sinclair 24% 24% 24% 24 Sou. Pae„ 88% 86% 86% 86% S.vu. Rv. 22% 22% 22% 22% ST LAS W RY... 29% 29 29 % 2-8% Stand. OH Cal... 07% 96% 97% 97% Stand. Oil N. .T. 176% 174% 175% 174% STL.&SF com... 29 28% 28% 28% Stewart Warner. .38 38 38 38% Strom. Garb. ... 47 5 i 47% 47% 47% Studebaker ... 113% 113 11.3% 112% Texas Gas 42% 42 42 42 Texas Coal 26% 25% 26% 26 Texas Cos 44% 44 44% 44% Texas Pac 32 32 32 32% Tobacco Prod. 62% 62% 62% 62% Trans. OH 9% 9% 9% 9% Union Oil 18% 17% 18% 17% Tninn Par- 134% 134% 134% 134% United Fruit .141% 141% 141 % 141 U. S. Retail S. 44% 44% 44% 45 U. S. Cast I. P. 36 35% 36 36 U. S. In. A. ... 47 46% 46% 47% IT. S. Rubber . 6.3% 62% 62% 62% U. S. Steel 95% 95% 95% 05% U. S. Steel pfd. 117% 117% 117% 117% Utah Copper .. 63% 63 63% 63% Van. Steel 39 .38*4 .38% 38% Wabash 9% 9% 9% 9% Wabash Ist pfd. .32% 30% .32 30% Worthington P.. 52 52 52 52 Wpstern Unlo.. 96% 96% 96% 06% West. Airbrake. 8914 89% K 8.% West. Elec. ... 57% 57% 57% 57 White Motors . 42% 41% 42% 41% W. Overland ..8% 8 % 8% White OH 10% 9% 10% 9% NEW TORK LIBERTY BONDS. —April 1— Prev. High. Low. Close Close. Llbertv Ist 3%5.. 98 36 08.28 98 32 98.30 LibertV 2d 45.. . 98 42 98.42 93 42 9*24 Liberty Ist 4%5.. 9S.KB 98 68 93.74 98.9.3 Liberty 2d 4%5.. 9.68 98 56 98.60 98.70 Llbertv 3d 4%5.. 99 58 99.48 99 50 99.56 Liberty 4th 4%5. 99.00 98.82 98.58 93 90 Victory .°.%s 100.02 100.02 Victory 4%5.... 100 84 100.82 100.84 100.82 CHICAGO STOCKS. (By Thomson & McKinnon) —April 1— Open. High. Low. Close. A. Shipbuilding 94 Arm. & Cos. pfd. 96% Arm. Leather... 12% C Elev R'pfd... 6 Con. Motors .... 7% Earl Motors .... .3% 3% 33 Libby-McNeill.. 4% 4% 4% 4% Mont. Ward .. 17% 17% 17% 17V, Nat. Leath., new 10% 10% 10% 10% Pick A- Cos 25% 27% 25% 27% P. Wiggley (A) 40% 40% 4040 Reo Motor 20% 20% 20% 20% Stewart-W .38 Swift A- Cos 104% 104% 104 104 b. Swift Inti 20% T Thompson ,T. R. 77 77% 77 77% Temtor Corn A 2% U. Car. & Carbon 57% 57% 56% 57 Wahl 50 Yellow Taxi .... 77 77% 76% 76% NEW YORK SUGARS. NEW YORK, April l.—Raw sugars were dull and easy in trade on the exchange here today. Cubas were quoted at 389 c per pound, duty free; and Porto Ricos at 3.87 c per pound, duty free, delivered. Refined sugars were rather quiet. Fine granulated was quoted at 5.25 (d 5.50 c and No. 1 soft at 5.50 c per pound. NEW YORK COFFEE. NE WYOItK, April I.—Coffee values ruled steady on the exchange here today, opening options being 1 to 2 points lower. Rio No. 7 on spot sold at 10%c per pound. NEW YORK RICE. NEW YORK, April 1. —Rice values were unchanged in trade on the exchange today, domestic selling at 3%f07%e per pound. NEW YORK WOOL. NEW YORK, April l.—Wool values ruled about steady on the short session of the exchange here today, prices of the past week being well maintained. WHOLESALE BEEF PRICES. The following are today’s wholesale prices for beef cuts as sold on the Indianapolis markets of Swift & Company; Ribs—No. 2. 20c; No. .3,15 c. Rounds— No. 2,16 c; No. 3,14 c. Loins—No. 2,24 c. No. 3.18 c. Chucks—No. 2,10 c; No. 3.9 c. Plates—No. 2,7 c; No. 3,6 c. SEEKS TO MAKE BOND ISSUE. WASHINGTON. April I.—The St. Louis & San Francisco Railway Company today applied to the Interstate Commerce Commission for authority to Issue and sell fl 1.453.000 prior lien 5% per cent mortgage gold lends.

STOCK MARKET CLOSE IRREGULAR Oil Shares Develop Activity and Strength Late. NEW YORK, April 1. The market closed Irregular today. The market continued active throughout the late dealings, many new issues moving upward, while reactions occurred in those stocks had been strong earlier. The oil issues developed activity and strength, Pacific Oil moving up over 2 points to 52%, while General Asphalt rose over 3 points to 63%. St. Paul preferred was in demand, advancing over 1 point to 39. United tSates Steel hung around 95%. Studebaker, after falling to 112%, recovered to 113%. Governments bonds were unchanged and railway and other bonds, lrregular. Total sales of stocks for the day w 545.100 shares; for th e week, 3,765,700 Total bond sales for the day were $9,578,000; for the week $84,487,000. (By Thomson & McKinnon.) —April I. At the e n 6 of another weefc a general summary of conditions surrounding the security market would make a very favorable showing with the sole exception of the difficulties that have arisen iu the labor world. The strike in the coal ficblß and in the textile industry is, of course, an interference with the orderly progress that we all want to see continue in business, but in the final analysis, even this is not to be considered as very bearish, because these strikes, being based on unsound economic ideas, must Inevitably fail. The readujustment of wages throughout the world will proceed ifgardless of temporary obstruction and no better time could have been chosen for the coal strike than the present. The security markets, which always registers the public sentiment in an unerring way, gives us an uninlstable indication as to the final result. The public confidence is daily increas ing; new buyers; ar e being attracted to the market; the purchasing power of many thousands of individuals has been materially Increased by the advance In value of their securities and with the upward tendency In the value ot our products we have a foundation for continued expansion in business, which means further gradual advances in tho stock market, and we again suggest that every reaction be utilized for additional buying. TWENTY STOCK AVERAGE. NEW YORK. April I.—Twenty Industrial stocks Friday averaged 89.50, up .13 p*r cent. Twenty active rails averaged 80.66, off .20 per cent. CLEARING HOUSE STATEMENT. NEW YORK, April I—Exchanges, $900,500,000; balances, $67,100,000; Federal Reserve Bank credit balances, $51,000,000. Money and Exchange In<llanapoli bank clearing Saturday were $2,408,000 and for the week ending Saturday, $13,807,000. Bank debit* Saturday were $4,332-000 and for tho week ending Saturday, $27,709,000. NEW YORK, April 1 —The foreign market opened steady today, with demand Sterling unchanged at $4.37%. Francs were % centime higher to 9.02%e for cables and to 9.02 c for checks. Lire advanced 2 points to 5 17c for cables and to 5.16%c for checks. Belgian francs rose 1 centime to 8.41 c for cables and to 8.40%c for checks Marks were unchanged at 00,33%c. Guilder cable* were 87.80 c; checks. 37.75 c. Sweden kronen cables were 26.02 c; checks. 25.97 c. NEW YORK BANK STATEMENT. NEW YORK. April 1 Averages I.oans, Increased, $7,644,000; time deposits, Increased. $13,447,000; time deposits, Increased. $2,804,000; reserve, increased $826,740. Actual Loans. Increased, $6-1.472.000; demand deposits, Increased. sllO 467 000: time deposits, docreased. $3248.000; reserve, decreased, $24,262,260.

MOTOR SECURITIES. (By Thomson & McKinnon.) —April L——Closing— Bid Ask Earl Motors 3% 3% Packard com 7 , 7% Packard pfd 72 75 Peerless 35 36 Continental Motors com 7% 7% Continental Motors pfd 90 95 Hupp com 16% 17 Hupp pfd 90 Reo Motor Car 20% 21 Elgin Motors 2% 2% Grant Motors 1% 1% Ford of Canada 330 340 National Motors 1% 2% Federal Truck 17 10 Paige Motors 17% 18% Republic Truck 7% 8 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —April 1— - Opening - Bid. Ask. Anglo-American Oii 17% 17% Atlantic Lobog 8% 9% Borne-Serymser 35 370 Buckeye I’lpe Line 04 96 Chesebrough Mfg. Con 190 195 Cont. Oil Colorado 130 135 Cosden OH and Gas 5 8 Crescent Pipe Line 33 34 Cumberland Pipe Line 140 iro Elk Basin Pete 0% 0% Eureka Pipe Line 93 96 Galena Signal Oil pfd 110 115 Galena-Signal Oil com 43 47 Illinois Pino Line 171 177 Indiana Pipe Lino 100 103 Merritt Oil 10% 11 Midwest Oil 2% 3 Midwest Refining 170 180 National Transit 27 28 New York Transit 168 175 Northern Pipe Line 105 107 Ohio Oil 270 275 Oklahoma P. & It 5% 5% Penn. Mex 27 30 Prairie Oi) and Gas 550 570 Prairie Pip eLine 228 233 Sapnlpa Refining 3% 3% Solar Refining 340 360 Southern Pipe Line 07 99 South Penn Oil 180 185 Southwest Penn Pipe Lines. 60 64 Standard Oil Cos. of Ind 87% 87% Standard Oi] Cos. of Kan 530 550 Standard Oil Cos. of Ky 580 590 Standard Oil Cos. of Nel 165 175 Standard Oil Cos. of N. Y 370 377 Standard Oil Cos. of Ohio 390 410 Swan & Finch 25 35 Vacuum Oil 350 . 360 Washlngto i Oil 24 29 NEW YORK CURB MARKET. (By Thomson & McKinnon) —April——Closing— Ask. Ask. Acme Parking 60 65 Curtis Aero, erm 4% 6 Curtis Aero, pfd 24 27 Goldfield Con 4 6 Jumbo Exension 3 5 International Petroleum 15% 15% Nipissing 6% 6% Standard Motors 4% 5 Salt CreeK 14% 14% Tonopah Extension 1% 1% Tonopah Mining 1% 1% United P S new 5% 6 U. S. Light and Heat 1% 1% V. S. Light and Heat pfd. 1 1% Wright Martin 2 5 Yukon Gold Mine Cos 1 1% Jerome 3% 3% New Cornelia 17 18 nited Verde 27 28 Sequoyah 3 10 Omar Oil 1 1 1-16 Kep. Tire 40 50 Boston & Mont 30 St Kirby Oil 24 24% NEW YORK HIDES. NEW YORK, April I.—Hides were dull in trade on the market here today, native steer bides selling at 12%C and branded steer hides at ll%c per pound. NEW YORK PETROLEUM. NEW YORK. April 1. —Petroleum prices were ngutn steady in trade on the mnrket here today, Pennsylvania crude selling at $3.25 per barrel. NEW YORK TURPENTINE. NEW YORK. April 1. —Turpentine sold at 85%c per gallon on the market here today.

INDIANA DAILY TIMES.

SWINE VALUES SUSTAIN LOSSES Cattle .Receipts Very LightVeals Are Lower. RANGE Ot you PKICKS. Good Good Good Mar. Mixed. Heavy Light. 24. $10.15010.35 [email protected] $10.35@ 10.40 25. [email protected] 10.25 @ 10.40 10.60(310.75 27. 28. 10.25@ 10.40 9.85 @10.15 [email protected] 29. [email protected] [email protected] [email protected] 30. [email protected] 9.85 @ 10.10 [email protected] 31. 10.35 @10.40 [email protected] [email protected] April 1. [email protected] ,[email protected] [email protected] With fresh receipts close to 3,000, a holdover from the market of the previous day of 1,200 and both the demands of shippers and packers rather slow, swine prices were Irregularly lower In trade on the local live stock exchange today. Prices were generally 15c to 25c lower, but there were spots In the sales of light swine that were around 35c lower. The price range was extremely narrow, there being but few heavy swine on the market. Trading was very slow even up to the late forenoon hours and it was thought that there would be a holdover for the opening market of the coming week. With speculators the only active traders and receipts extremely light, cattle values were steady generally. Veals were 50 cents lower generally, with receipts light, the quality only fair and the demand slow. Receipts for the day ran close to 200. There were less than 25 sheep and lambs on the market. HOGS. 100 to ISO lbs. average $10.40® 10.00 Over 300 lbs 9.50® 10.50 150 to 300 lbs 10 15<g10.50 Best pigs, under 104 lbs 0 50®10.50 Top 10.75 Roughs . 25® 8.25 Stags - 'Otfl 7.00 Bulk of sales 10.15®10.40 —CattlePrime corn-fed steers, 1,000 to LBOO lbs 7.00® 8.00 Good to choice steers 1,200 to 1,800 lbs 6.50® 7.00 Good to choice steers. 1,100 1,200 lbs 5.75® 6.35 Good to choice steers, 1,000 to 1,100 lbs 5-50® 5.T5 Common to medium steers, 800 to 1.800 lbs 5 25® 8.30 —Cows and Heifers— Good to choice heifers 7 50® 8.00 Medium heifers 6.50® 7.35 Common to medium heifers .. 6.00® 6.00 Good to choice cows 5.25® 6.50 Fair to miHllum cows 3.60® 4.50 Cauners 3.00® 4.25 Cutters 2.23® 4.00 —Bull*— Fancy butcher buim 5.50® 6.00 Good to choice butcher bulls . 4,50® 5.50 Bologna bulls 3.75® 4.25 Light Bologna bulls 3.00® 3.50 Light to common bull* 2.75® 3.50 —t a, v eg—Choice veals 8 50® 9.00 Good veals B.oo® 850 Medium veals 6.50® 7.50 Lightweight veals 5-00® 6.00 Commons to heavy weight veals 4.50® 5.50 —Ntoekers and Feeders— Good to choice steer* under 800 lbs 5.75® 6.73 Medium cows 2.25® 3.75 Good cows 3.30® 4.50 Good heifers 5.25® 6.50 Medium to good heifers 4.00® 5.00 Milkers 83.00®85.00 —Sheep* and Lamb*— Cull ewes 2.25® 3.00 Gocd to choice ewes ....6.00® 700 Bucks 2 50® 3.50 Clipped lambs 8.5<>®10.50 Wool lambs 11.00®15.00 Seconds 6 00® 8.00 Buck Lambs 5.50® 6.50 Culls 3.00® 5.00

Other Livestock CHICAGO. April t. — Hogs—Receipts, 9,000; market, active and mostly steady; bulk of sales. $0.90® 10.40; heavies, $9.95® 10.20: mediums, $10.10®10.50; lights, slO.3o<fi.lO.uo; heavy packing sows, smooth, $9.15679.60; packing sows, rough. $S®9 25 ; pigs. s9® 10.23. Cuttle- Rercipte, 300: market, about steady. Sheep and lambs Receipts. 4.000; market, steady. CINCINNATI, April I.—Hogs—Receipts, 1,800; market, steady to 15 to 25c higher; heavies, mixed and mediums, $10.60; lights, $lO 50; pigs, $9.75; roughs. $8,25; stags, $5.25. Cattle—Receipts, 200; market, steady generally; bulls, steady: <alves, $8.50: few, $9. Sheep and lambs— Receipts, none; market, nominal. CLEVELAND. April 1.-Hogs Receipts, 1,300; market 10 cents higher; yorkers, mixed, medium and pigs, $10.85; rough*. $8.50; stags, $5 50. Cattle--Re-ceipts. 150; market, slow and dull. Sheep and lambs —Receipts, 300; market, steady generally; top sl4. Calves—Receipts, 400; market, 50 cents lower; top, $9. EAST ST. LOUIS, April L—Hogs— Re ceipts. 3,000 market, steady to 10 to 15 cents higher; mixed and butchers, $10.25® 10.40; good heavies, slo.lo® 10.25; roughs, $8.50® 8.75; lights, slo.3o®']o 40 ; pigs, $8.75® 10.25; bulk of sales. $10.25® 10.40. Cattle —RiVelpts. 150; market, steady; native beef steers. $8.25®9; yearling steers and heifers, $7.50®8.H0; cow* $2.50 ®6.50; Stockers and feeders, $4.50®6.50; calves. [email protected]; canners and cuttem, $2.00®3.75. Sheep and lambs—Receipts, none; market, nominal. EAST BUFFALO, April I.—Hogs—Receipts, 2.44)0; market, active; yokers, sll ®11.15; pigs, $10.75® 11: mixed, $lO 90® 171.10; heavies. $10.65®10.8D: roughs. $8.75 ®9; stags, [email protected]. Cattle —Receipts, 125; market, slow steady: shipping steers, $8 ®8.50: butcher grades, $7.25®8.25; heifers, $4®6.75: cows. s2.2s®rt; bulls. $4.25®5.25: feeders. $5®6.25; milk cows and springers, s2s® 110. Calves—Receipts. 200; market, slow; cull to choice. $2.75@9. Sheep and lambs Receipts. 2.600: market, slow; choice latnbs, $15.50® 16.25; c<.'l to fair, sß® 15; yearlings, sß® 14.50; sheep, s3® 12 PITTSBURGH, April I.—Hogs Receipts, 2.000; market steady; heavies, $10.50® 10.60; mediums, light yorkers and heavy yorkers, $11; pigs, $10.75; roughs, [email protected]; stngs, $5®5.50. Cattle—Receipts, less than 100; market steady. Calves—Receipts, 300; market 50c lower; veal calves, $9.50; heavy and thin calves, $2.50®3.50. Sheep and lambs —Receipts, 2,500; market steady; prime wethers, [email protected]; good mixed, $8.23® 8.75; fair mixed. $7.25®8; eulls and commons, [email protected]; choice lambs, $12.75. Local Curh Market (By Newton Todd.) —April I. Bid. Ask Am. Hominy Cos 10 16 Central and Coast Oil % .. Choate Oil Corp % % Citizens Gas Cos. pfd 91 96 Commonwealth Fin Com. ... 30 36 Commonwealth Fin pfd. ... 41 48 Columbian Fire Ins. Cos 6 7% Comet Auto % 2 Da.vton liubber Units 45 55 Dictograph Prod, pfd 80 38 D. W. Griffith 3% 7% Elgin Motor Car 2 2% Fed Fin. Cos. pfd. 77 87 Fed. Fin. Cos. com 124 133 Gt. Sou. Prod. & Ref. ..... 5% 8% Goodyear T. & R. com. ..... 10 12 Goodyear T & R. pfd 25 28 Metro. 5-10 c Stores com 3 7 Metro. 5-10 c Stores pfd.... 19 27 Nat Underwriting 2% 5 Revere Motors .... % % Rauch & Lang Unit 5........ 19 30 Rub Tex. Units 10% 15% Steel Craft Units 32 42 Stevenson Gear Units 15 21 U S. Auto Units 50 60 U 8 Mtg. Cos Units *45 162 BANK STOCKS Commercial Nat. Bank 74 83 Cont. Nut Bank 100 116 Ind Trust Cos 175 Did Nat. Bank 260 270 Mer. Nat Bank 282 Security Trust Cos 130 State Saw & Trust 93 99 Union Trust Cos 300 Wash Bank & Trust Cos . 130 CLEVELAND PRODUCE. CLEVELAND. A.prll 1. Butter—Extra in tubs. 14%@45c; prints, 45%® 16,’; extra firsts, 48%@44c; packing stock 17(519e. Eggs—Fresh gathered, northern extra, 27c; extra firsts, 26c; Ohios, 24® 24%c; western firsts, new cases, 24c. Poultry—Live heavy fowls, 29@30c; spring culls. 24@26c; spring ducks, 32®34c.

Weather The following table shows the state of the weather at 7 a. m., April 1, as observed by United States Weather Bureau: Station. Bar. Temp. Weather. Indianapolis, Ind. . 30.28 83 Cloudy Atlanta, Ga 30.14 42 Cloudy Amarillo, Texas 2990 46 Cloudy Bismarck, N. D. . 30.10 34 Rain Boston, Mass 29.70 34 Rain Chicago, 111 30.26 32 Clear Cincinnati, Ohio .. 30.22 34 Cloudy Cleveland, Ohio ... 30.10 82 Cloudy Denver, Colo 29.76 48 Clear Dodge City, Kas. . 30.06 42 PtCldy Helena, Mont 30.02 36 Rain Jacksonville, Fla. . 30.04 60 Clear Kansas City, Mo. . 30.28 34 Clear Louisville, Kv. ... 30.28 86 Cloudy Little Rock, Ark. . 30.28 42 PtCldy Los Angeles, Cal.. 29.90 50 Clear Mobile, Ala 30.20 50 Clear New Orleans, La. . 30.22 56 Clear New York, N. Y. .. 29.66 34 Rain Norfolk, Va 29.76 56 Clear Oklahoma City ... 30.18 44 Clear Omaha, Neb 80.20 32 Cloudy Philadelphia, Pa. . 29.72 40 Cloudy Pittsburgh, Pa. ... 30.04 34 Snow Portland, Ore .... 30.22 44 Cloudy Rapid City, S. D. . 29.98 34 Cloudy Roseburg. Ore. ... 30.26 38 Cloudy San Antonio, Texas 30.1S 52 Clear San Francisco, Cal. 30.10 48 Clear St. Louis, Mo. ... 30.30 42 Cloudy St. Paul, Minn. .. 30.24 32 PtCldy Tampa, Fla 30.06 70 PtCldy Washington, D. C. 29.78 46 Clear WEATHER CONDITIONS. The txsrm which crossed this region Friday now pnxslng Into the Atlantic Ocean, having caused considerable rainfall In Eastern sections. It has been followed by colder wenther from the Great Luke* to the east Gulf States, and frost* occurred last night a* far Smith as central Arkana*. Temperature* are rising over much of the region between the Mississippi and the Rocky Mountain* In connection with an extensive depression covering the western highland*. Temperatures are lower, however. In the Pacific region dne to a field of high pressure following the western disturbance. —WHITE RIVER CONDITIONS— At 7 a. m. today stages In White River were as follows: Anderson, missing; NolliesvlUe. 13.0, rising j Indianapolis, 12.8, rising; Elllston, 23.2, rising) Shoal*, 19.0, rising; Decker, 19.7, rising. J. H. ARRINGTON, Meteorologist. Weather Bureau. CORN AND WHEAT BULLETIN. For the twenty-four hours ending at 7 a. m., Saturday, April 1, 1922; Tamper-1 •ture |„* 1 O oo *? Stations of- rs Indianapolis ** fl-aV * District Jc u*£ ?£I £ c 2! South Bend 1361 25 I 0 I Slippery Angola 33 27 ! 0.57 I Bad Ft. Wayne 34 | 30 j 0.36 I Wheatfleld 32 i 25 | 0.66 Bad Royal Center ...i 34 j 28 | 0.67 Poor Marion 45 31 • 0.35 'Bad Lafayette 86 | 20 1 0.54 Muddy Farmington 41 j 31 I 0.85 i Muddy Indlnnapolls ....) 42 I 32 I 0.36 [Good Cambridge City. j 57 j 31 I 0.01 | Terre Haute I 40 i 32 I 0 52 | Bloomington ...| 60 | 32 | 0.85 Muddy Columbus 155 S3 ! 0.06 Fair Vincennes j 52! 33 0.15 ! Soft Paoll !62| 34 .. . ! Slippery Evansville } 54 | 36 i 0.08 j

Local Stock Exchange —April I. STOCKS. Bid. Ask. Ind Ry. A- Light com 60 Ind. Ry. A Light pfd 75 ... Indpls. Rt. Ry 42% .. . Ind pis. A N W. pfd 60 Indpls. & f>. K. pfd 60 T H„ T & L pfd 69 T H„ I & E. com 5 T H., I. A E. pfd 15 U. T. of Ind. com ... l U T. of Ind. Ist pfd 7 U. T. of Ind 2d pfd 2 Advance-Rumely Cos. pfd Advance Rumely com ... Am. Central Life 195 ... Am. Creosotlng pfd 94 ... Hep (t it c, m 67% ... •Relt R R pfd 50 (Vii Miry Bldg. Cos. pfd 93% ... Citizens Gas Cos. 20% ... City Service com 193 ... Citv Service Cos. pfd 58 ... Dodge Mfg. Cos. pfd 85 ... Horne Brewing 43 ... Ind Hotel Cos. coin 85 ... Ind. Hotel Cos. pfd 98 Ind. Nat. Life Ins. Cos 2 Ind Title Onaratee 71 Ind Pipe Line 98 Indpls. Abattoir pfd 46 Indpls Gas 44% ... Indpls. Tel. pfd Indpls Tel com ... Mer Pub. Util, pfd 48 Nnt Motor Car Cos 3% Pub Sav. Ins Cos 4% ... Hsu!! For pfd :47% ... Stand. OR of Indiana 86% ... Sterling Fire Ins. Cos. 7',4 Van Camp Hdw. pfd 86 inn Camp Prod. Ist pfd 101 Van Camp Prod. 2d pfd Vandalla Coal Cos. eom 1 Vandalla Coal Cos. pfd 6% ... Wabash Ry. pfd 29% ... Wabash Ry. com 8% BONDS. Broad Ripple 5* 61 66 Citizens St Ry. 5s 73 78 Tndlan Creek Coal A Mine 6s. ... ion Did Coke A* Gas 6s 86 Indpls. C. A S. ss. 91% ... Indpts. A North. 3s .98 43 Tndpls. A Martinsv. 5* 60 ... Inrlrds A N W 5s 48 ... Indpls. A S. E. 5s 45 Indpls. Shelbyv. A S E 5s 75 Indpls St. U.v 4s 62 T H.. I. A E. 5s 50 t’lMrens Gas 3s 86 ... Indpls. Gas 5g 83% ... Kokomo. M A W 5s 84% Ind Hotel Cos. 6s 96 Indpls. Water 3s 94 96 Tndpls Water 4%s 81 ... Indpls. T. A T 75% ... Indpls. L. A II 5s 86 88% U T. of Ind. 6s 46 Mer. H. A L. 5s 06 100 New Tel. L. D. 5s 05 New Tel. Ist 6s 95 Sou Tel. Power 6s 86% 91% •Ex-dividend. In the Cotton Market NEW YORK, April I.—The cotton market opened steady today nt an advance of 5 points to a decline of 2 points. December showing the loss There was a quick reaction to the previous close on selling by Wall street and spot houses, due to prospects for favorable weather. Business generally was light. NEW YORK, April I.—Opening eotton prices; April. 17.70 c bid: May, 17.98 c; •Tilly, 17.38 c; August offered, 17.30 c; October and December, 16.85 c; January, 16.80 c. The market was steady In the late dealings, closing at a net advance of 1 to 6 points. —COTTON FUTURES— Open. High. Low. Close. January 16.80 16.82 16.77 16.82 May 17.98 1798 17.8(5 37.93 July 17.38 17.3S 17.22 17.32 October 16.98 16.99 16.88 16.98 December 16 85 16.92 16.32 16.91 —Cotton Review — NEW YORK, April I.—The cotton market was today again very narrow. The trading was largely professional. The public apparently has lost Interest in the subject, probably because (his market Is so completely overshadowed by the gro® activity In the security market, hut we have fundamentals which may ultimately bring about a very material increase In activity and higher prices. We have a late start for the new crop, which means exposing of the crop at a later date to the ravages of Insects. Our supplies at the end of the season will he moderate and world condlditions are shaping themselves so that a larger consumption may reasonably be anticipate*!. Under such circumstances we continue to feel that the opportunities will be found ori the long side and would buy on the reactions. WAGON WHEAT Z'KICiSS. indlanapolis Hour muis and elevator* today were paying $1.30 per bushel for Vo. 1 red winter wheat; $1.28 for No 2 red wtuter and according* to test for No 3 red winter P

SHORTSPURCHASE WHEAT FUTURES Elevator'lnterests Sell Corn— Oats Trade Timid. CHICAGO, April I.—Grains closed irregular today. Selling of wheat was general and much of it was by houses who recently were identified with the buying side. Buying was mostly confined to shorts. Weather conditions were more favorable. Buying power in corn was light, while some of the big elevator interests were credited with selling. Buyers of oats were timid because ot weakness in order grains. Provisions were irregular. May wheat opened off %e at $1.32, closing off %c. July wheat opened off %c at $1.17 and closed unchanged May corn opened off %c at 57%c and closed up %c, July corn opened off %c at 61c and closed up %c. May oats opened off %c at 36%c and closed up %c. July oats opened off %c at 38%c and closed up %c. (By Thomson & McKinnon.) —April 1— Wheat—Liverpool markets have again shown a little easiness, but cables from news agencies say that, after the present amount of nearby wheat is digested, there is likely to be more firmness in tone, if not In price. We have taken our color today from the foreign news; also from the fact that no export business whatever has been reported. Crop news from the Southwest is more mixed than rccntly. there being a number of expressions of belief that the abandoned area will be smaller than expected earlier in the year. Spring wheat markets have shown relative strength, not because of any material improvement in the mlliing or flour demand, but rather because stocks of wheat are light and : the movement of spring wheat Is negligible. The principal Southwestern mar- i kets continue to experience a very slow ! demand and labor under the weight of liberal accumulations. Warehouse stocks In Kansas City have decreased only 272.000 bushels for five days, although It had been expected that the decrease would run around 1.000,000 bushels j weekly There Is a growing feeling that ! the various theories of future shortage | have been fully exploited and that the j market is now In need of something , quite radical to turn prices up definitely. Every one appreciates the necessity of a liberal yield of the new crop, j and the market gains considerable stea- I diness from this one Idea. The action of prices probably will be determined | by the attitude of the foreign buyer, as well as by the news from our own growing cron. Just now, the market | Is on debatable ground. Corn and Oats—The action of wheat j was rellectced In corn and oats In a : small way, but the corn market encountered a demand from shipping and export Interests, which kept the under- ' tone firm. Oats suffered from the ab- • sence ot any noteworthy buying, except . a moderate demand for the July, which 1 seemed to come from cash Interests. We will soon be approaching the period when preparations for delivery on May con- j tracts will be going on. Provisions—The absence of European demand for lard dominates the provision situation Scattered liquidation Is going on, but In a general way the market Is quiet. CHICAGO GRAIN TABLE. —April 1— WHEAT— Open. High. Low. Close. May 1.32 1.32 1.30% 1.31% July.... 1.17 1.17% 1.16% 1.31% CORN— May .57% .57% 56% .57% July 61 .61% .60% ‘.61% OATS— May.. .36% .36% .31% .36% July.... .38 '4 .38:a ,35% .3tt* , 9 PORK—•May 18.75 LA IID May 10.45 10.45 10.35 10.45 •Tilly 10.70 10.70 10.65 10.67 RIBS - '.III')’ 10.30 RYE— May 1.01 1.01 1.00% 1.00% July 92 .92 .91% .91% •Nominal. CHICAGO CASH GRAIN. CHICAGO, April I.—Wheat—No. 3 mixed. $1.20%; No. 4 mixed, $1.13. Corn —No 2 mixed, 55%®55%c; No. 2 yellow, £6®s7e; No. 3 mixed, 53% ®s4c; ' No. 3 yellow, 55%@56%i’: No. 4 mixed. 53c:! No. 4 yellow, 54%@55c. Oats—No. 2 1 white. 36%e; No. 3 white, 35@36e: No. 4' white, £M%@3sc. TO I,FDD SEED AND GRANT. TOLEDO, April I.—Wheat—Cash. $1,40 ®1 42: May. $139%; July. $1.20%. Corn Cash. 61® 62c. Oats—Cash. 41®430. Rye—Cash. 98c. Raney —Cash, 68c. Cloversoed Cash. sl4 50; April. $13.35; October. sll,lO Alslke Cash. $11.50. Timothy—Cash, $295; May, $3.05; Septemtier, $3.30; October, $3.25. PRIMARY MARKETS. (By Thomson & McKinnon.) April 1. —Receipts— Wheat. Corn. Oats. St. Joseph... 22,000 11.000 Chicago 34.000 226,000 166,000 Milwaukee ... 1.000 87,000 40.000 Minneapolis.. 108.000 31,000 36.000 Duluth 75.00 15.000 I St. Louis 60.000 42,000 86.000 Toledo 3,000 4,000 6.000; Del roit 3.000 3,000 4.000 i Kansas Citv.. 198,000 64.000 24.000 Omaha 20,000 122.000 06,000! Indianapolis.. 10,000 24,000 32.000: Totals 54.000 629.000 460,000] Year ag0.... 822.000 591,000 434.000 —Shipments— Wheat. Corn. Oats. St. Joseph 6.000 52.000 14.000 Chicago 23,000 69,000 125.000 Milwaukee ... 5,000 33,000 92.000 Minneapolis... 90.000 14,000 108,000 Duluth 5,000 2.000 St I.ouls 55,000 31,000 66,000 Toledo 9.000 2,000 6,000 Detroit 2.090 3.000 Kansas City.. 211.000 33.000 7.000 Omaha 35.000 111.000 38.000 Indianapolis 14,000 40,000 Totals 441,000 361,000 498,000 Year ago... 673.000 608,000 586,000 —Clearances— Wheat. Corn. Oats. New York 61,000 Boston 9,000 Philadelphia.. 50,000 129.000 65.000 New Orlans.. 40,000 189,000 Newport News 2,000 Totals 90.000 378,000 70,000 Year ago 308,000

INDIANAPOLIS CASH GRAIN. April 1— Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat—No sales. Corn—Easier; No. 3 white, 60®69%c; No. 4 white. 59@59%c; No. 3 yellow, 59®59%c; No. 4 yellow, 58@58%c; No. 3 mixed, 58®58%c; No. 4 mixed, 57® 57 %c. Oats—Steady; No. 2 white, 39@42c; No. 3 white, 37%@38%e. Hay—Steady: No 1 timothy, $18.50® 19; No. 2 timothy. [email protected]; No. 1 light clover mixed. $17.50®i8; No. 1 clover, $19@20. —lnspections— Wheat —No. 3 mixed, 1 car. Corn—No. 3 white, 2 cars; No. 5 white, 1 car; No. 3 yellow, 1 car; No. 4 yel low, 2 cars; No. 5 yellow. 4 cars; No. 6 yellow, 2 cars; No. 3 mixed, 3 cars; No. 4 mixed, 1 car; No. 6 mixed, 1 car; total, 17 cars. Oats—No. 1 white, t car; No. 2 white, 2 cars; No. 3 white, 5 cars; No. 4 white, 1 car; total, 9 cars. BOARD OF TRADE STATEMENT. The weekly statement of the Indianapolis Board'of Trade showing the output of flour by local mills, inspections for the week and stock in store, follows. COMPARATIVE STATEMENT. Output of Flour— Bbls. April 1. 1922 8,200 March 25, 1922 7,800 April 2, 1921 0,385 April 3, 1920 7,866 —Bushels — Inspections for Week — 1921 1922 Wheat 27.000 8,000 Corn 170,000 680,000 Oats 158,000 144,000 Rye 3,000 Hay—l car. STOCK IN STORE. Wheat. Corn Oats. April L 19C2 140.500 401.000 324.000 April 2 1921 .... 91,280 463,3fi(k 339.120 April 3l 1920 .... 282,842 010,340 7,051 HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delir ered: Hay—Loose tirr>..thv, sl7® 18/ m i x e ’ hav, Sl<vi7- 1 ’ Gats—New, per bush-*,

Duke May Get Job

—HiwiMiiii 11hi .iujwuiuuOwa .a : HA . KagyHL jgj&A, JjSjfllEffl

The Duke of Devonshire, who probably will be chosen to succeed Edwin S. Montagu, secretary of state for India, who resigned, due to criticism, terminating in London.

KENYON’S BILL ON COAL WARS GATHERS 1)1 ST Measure to Set Up National Board Now Lacking Sponsorship. WASHINGTON, March 31.—Just before William S. Kenyon of lowa, quit the United States Senate to become a Federal judge he caused considerable apprehension in labor circles here and elsewhere by the introduction of a bill to establish a National Coal Mining Board to maintain peace In the coal industry. Before he made the formal proposal to the Senate, Kenyon outlined his plans for the sanctioning by Congress of an Industrial code applicable to coal mining and incorporated his set of rules in his bin. When the bill was tossed into the legislative hopper Kenyon was chairman of the Senate Committee on Education and Labor and the measure naturally went to his committee, where in the ordinary cc/urse of events, it would have rested for a brief period and would have been reported back to the Senate to be discussed pro and con, defended and maligned, until it was disposed of by being passed or definitely rejected. But Kenyon's gone and the bill is gathering dust in the archives of the committee, which has been without a permanent and official chairman since the retirement of the lowa Senator. Unless someone with Kenyon’s Ideas of how things ought to be looked after by the Government in the coal mining industry comes forward to rescue his bill and to sponsor it on the floor of the Senate It Is likely to die a natural death along with hundreds of other measures which never get any farther than the brief Item in the newspapers to the effect that “Senator So-and-So today introduced a bill providing for the soforth and so 0n....” Members of tho Senate Education and Labor Committee, of which Senator Borah of Idaho is now the ranking member, say that there is a possibility that the bill will be taken up and discussed one of these days in connection with the Investigation made under Kenyon's direction of the mine strife In West Virginia. It was after this investigation that Kenyon drafted his proposals to reform the coal mining industry. Additional reports on the West Virginia situation have been laid before tho Senate, but they have never been up for consideration because of the stress o other legislative business. The West Virginia tangle Is expected to be taken tip, nt least for an academic discussion, when the Senate gets through with the armament conference treaties, and conflicting views on ways to clear up difficulties between the operators and miners In Mingo and other coal fields will undoubtedly lead to some Interesting debate.

U.S. OPERATIONS OF SHIPS TO END AFTER JUNE 30 Vessels Will Shift Into Private Hands by Gradual Change. WASHINGTON, April I.—Uncle Sam’s role as ship operator is nearing an end. Beginning at the end of June he will commence a gradual withdrawal from tho shipping game, which he began as a war measure and which he has continued to play until today he Is well on the way toward being the world's leading merchantman on the sea. This, in effect, is the program of Chairman Albert Lasker of the Shipping Board, lie has announced that with the start of the new fiscal year in July will come the beginning of the end of the United States’ long stewardship of the new merchant marine. WITHDRAWAL NOT TO BE SUDDEN. The withdrawal will not be sudden, however. Depending on possiblly improved world conditions and Government aid to shipping, it -will take about two years for the Government to wind up its immediate connections with the shipping industry which It brought Into being. The general trend of the Government’s efforts has been toward guiding the neiv shipping industry into paying methods and bolstering it up where It needs it. This will follow until private enterprise can take firm hold and keep the ships moving and the money coming in. RECALL DAYS OF “CLIPPERS." The goal in the minds of Administration leaders has been the restration on a modern scale of the days when the famous American “clippers," bearing commerce to every port, were the envy of the rest of the maritime world. With the aid of the ship subsidy plan, which it is hoped will oe adopted by Congress, and the expected improved economic conditions shipping authorities believe that the huge merchant tonnage of the nited States may yet become one of America's most active essets. The first big step toward this goal wag the drafting of tho ship subsidy or Gov-ernment-aid plan. Tbe nevt step has just been taken in the first concerted effort on the part of the Shipping Board to dispose of the fleet. Once the major part of these ships are under private direction and holding their own with their foreign the Shipping Board will fee! mission has been largely 100,000 ACCEPT DF.CRsgigy 7> ' ’ MANCHESTER. It !; II iricl y 'y’ ; ‘V'

U. S. WILL GET GREAT SHARE OF GERMAN TRADE Economic Recovery of Former Enemy Nation to Affect Conditions. WASHINGTON, April I.—Germany’* recovery, by ability to ship more of her exportable surplus, will mean for the United States a greater proportionate share of business than for any other of the big world powers, according ;o Government officials. Germany during the present year, and before the year is far advanced, ia expected by leading Government experts here to become more stable financially and commercially. Germany’s shipment* to the United States last year amounted to $80,000,000, Secretary Hoover's figures today showed. In dollars that was less than in 1920. But in the volume of goods transported it reflected greater export activity by German merchants. I’REDICT TRAFFIC FOR TRADE AA'KNUF.B. As soon as Germany can see more clearly above the reparations fog, complicated through the unwavering French attitude, a reopening of the trade avenues for tremendons traffic is predicted by American observers abroad. The United Stales sold to German buyers in 1921 $372,325,000 worth of goods. That exceeded by nearly $300,000,000 the amount Germany bought. But it Is upon security that American firms, backed by bankers, consider reliable. There Is one fact that stands out In the GermanAmerlean trade relations—and It Is the Important point that American business has confidence in Germany’s ability to pay and the confidence that she will pay within a reasonable period, the trade debts now contracted. America’s cotton producers thus far have fared best of all in the revived German traffic. Os the total exports last year. Secretary Hoover said, cotton exports alone made up $100,000,000, or one-third of the entire sum of exports of all kinds. Germany now ,1s buying heavily of American wheat, copper and fats, such as lard. The volume of these and other exports during 1922 will increase very materially. DEPENDENT UPON OTHER NATIONS. Germany has been entirely transformed from a self-supporting country to one absolutely dependent upon the United States and a few other nations for some of the products that she deems most essential to her welfare. This furnishes an explanation of th( character of our exports to Germany. The American export trade with Germany appears to have re-established itself with Germany, with somewhat the same commodities generally, as in the years before the war, but with higher values than obtained at that time. Germany ’sneed for footstuffs has not diminished and will not decrease In large degree, American observers agree. This is due to the fact that Germany has-be.:-come a highly-developed industrial nation and her needs will be principally for raw materials to supply mills and factories. When Gorman financial stability is more assured American producers and manufacturers will reap enormous financial returns in the larger demand for American wheat, flour, grains and meats. HORSES SUFFER IN RUSS FAMINE Animals Die by Thousands in Stricken Districts. LONDON, April I.—Worses are the latest class of Russian famine-sufferers to which the American Relief Administration has decided to extend aid. Three hundred and fifty-seven tons of oats, bought out of the $10,000,000 Soviet gola appropriation, nave already left Reva! for Moscow. / The maintenance of transportation In the outlying districts of the Volga Valley depends almost entirely on the animals. There is no railway, and the road*, hoicked with snow, are Impassable for motors. Camels are sometimes used, but horses arc- the mainstay, and so short have they been of fodder that they have been dying off by thousands. In some districts the loss reported since last spring is as high as 76 per cent. Moreover, the peasants are loath to let their horses do the hauling of A. A. A. supplies -“ino assurance that the rtak.-n care of. all nns from the V)!. ’ 1 1 cion for IttMSBteME lief, and now an gramme is being initiated by

NEW TWIST GIVEM TO CAUSE OF WAI Revolutionary Conflict’s BV ginnings Traced. LONDON. April L—“ The Pilgrim Fathers did not break away from the mother country because of harsh treatment. What really caused the separation was not oppression but distance, different, different surroundings and the fact that the most advanced radicals of England had found refuge In America and cnrrled into effect that the ideas of gov-® ernment that were repressed In the mother country.’’ Thus declared Prof. E. Raymond Turner, professor history at the University of Michigan, In an address to the Royal Colonial Institute in London on “The Relations Between Western Europe and America.” “Though the original English stock i had bcccme largely Intermixed wltM Dutch, German and other foreign ments, America remained English gnage. Institutions and laws,” he jfcSteKg “Os the 150,000,000 English people In the world, almost I(X),oo'*sYjs_V In America, and of these cent, were supposed to be eended from British stock;” tSSsggilS Professor Turner declared a r*‘a! League of Nations llshed Its foundations would beBQBJraQ pies of western Europe and of America. OFNTISTKY IN CALCCTTA, April I.—Tool ■Sfif in Thibet accomplished dentist's i fflee Is on a roof, hie reck to the patient's tooth It off. the tooth out^^^^^H If eome^^^^H patient is dragged off the re rock. SHANK TO rONDUjfl^^^i Alt :iii■ -li<• ii "’ml.rlol ■, ■. : : !. p: ' sio program f^jjSySlH/*-.';' tS&'S . ’>%"• AA‘ : ', "y-j *• 1 *so.i y.-fsi s - •

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