Indianapolis Times, Volume 34, Number 306, Indianapolis, Marion County, 4 May 1922 — Page 10

10

SUBSTANTIAL GAINS MADE BY TRADING Oil Shares and Public Utilities Show Special Strength With Specialties. GENOA REPORTS FIGURE Special to Indiana Daily Times and Philadelphia Public Ledger. BY MONITOR. NEW YORK, May 4.—The stock market displayed a substantial increase in the volume of trading, and was particularly notable for special strength in the oil shares some of the public utilities and a few specialties, V. ednesday. Thert were times when the rest of the list showed a disposition to drag, with operations among the industrials somewhat held in check hy reports of friction at Genoa, the continuance of the coal strike and doubt regarding the adjustment of some of our railroad problem* that come up for consideration in the near future. Outstanding features among the oils were represented by Standard of New .Terser. Standard of California. Associated Oil, Pacific Oil, California Petroleum, Royal Dutch nnd Texas Company. Diplomatic denials of a deal between the soviet government nnd Royal Dutch have been made, but it seems fairly well established that negotiations at least have assumed tangible form. The trading in Texas was on an enormous scale, and it looked as if the large blocks of stock that have heen hanging over the market for some time past had been fairly well absorbed. Among the public utilities markhd strength was displayed by Columbia Gas and Electric, Brooklyn Union Gas and Consolidated Gas. Strong specialties included Burns Brothers issues. American Bosch Magneto. Mack Truck, Orpheum Circuit and American Cotton Oil. Mack Truck is doing a very large business, with a big increase iu production compared with even a few months ago. According to the weekly review of the Iron Age. steel production remains practically unchanged, notwithstanding the lack of effort on the part of operators to force a settlement of the coal strike. With production going ahead at a rate of ab-ut TO per cent of capacity, prices have shown a tendency toward firmness particularly in pig iron. The poor quarterly statement of Midvale is believed to have been the factor responsible for holding this stock back in the face of the advance o fother independents supposed to he Included in the seven company mergr. Now that it is out of the way. it is believed that the chief deterrent to strength by this issue has been removed. —Copyright, 1922, by 1 üblic Ledger Company.

t j WALL STREET GOSSIP ; BY MONITOR. NEW YORK. May 4.—American Bosch Magneto is another stocK which Is benefiting by the current improvement in the motor industry. According to reliable information the company has shipped 82 000 sets of starting and lighting systems so far this year, as compared with a total of 58.000 sets for the entire year of 1921. Shipments are now going forward at the ra’e of 10.000 systems per month. While buj Ing of the stock has not been especially aggressive, the undertone has been well maintained and the issue sold up to 43% yesterday. I'es-ftite denials of persons most intimately concerned with the reported Royal Dutch-Russian oil deal, further reports emanating in Amsterdam tend to the belief that these denials are technical and are based on the fact that negotiations have not been actually completed. It is admitted, however, that negotiations are under way. The Midvale Steel first quarter showed a deficit of $1.132.827. as against a deficit of $1,379,782 for the lat quarter of 1921. The fir-; quarter iu 1921 showed a deficit of $1,395,202. Sinclair Consolidated Is holding its place in the oils in spire of the Teapot domestic controversy. This company hag in... r, benefiting tr the success of Mexican Seaboard. Sinclair owned four-fifths of the total issue of 510.00u.000 of the Mexican Seaboard 7 p-r Cent debenture*, and a* the latter company has retired $4.700.000 of these debentures since Jan lary Sinclair bas received 3.700,000 in liquid :ah. At the same time Mexican Seaboard has paid $3 per share so far this year, and as Sinclair owns 250.000 shares if the stock, this has meant an additional $730,000 in cash for the company. Texas Company is again showing signs sf activity, and is Joining with the general movement in the oil group here. Texns Company is believed to have very large stocks and current advance in refined oil prices mean automatic increase in value for these stocks. At the same time it is believed in the market here that the light oil situation in the Middle West is well in hand, and that further advances may t.e expected in the near future. This sentiment forms part of the buying motive for the genera! oil list The fact that two large estate*, with considerable holdings of Texas Company stock, which had to be sold, have now been completely liquidated, is aniter optimis'ic factor concerning Texas Company. Industrial Alcohol is meeting with a fair demand from bargain hunters who are inclined to chance the future. It i3 believed that a newly perfected device for conversion of alcohol into commercial fuel should be successful. If this line of thought should prove correct. Industrie 1 Alcohol's chances of again entering the divided class would naturally be much better. Loading of revenue freight totaled 714.08$ cars during the week which ended April 22. compared with 706.713 during the previous week, or an increase of 7.375 cars, according to reports just received from the carriers by the car service division of the American Railway Association. This was an increase of 9.456 cars over the corresponding week last year, bnt a decrease of 3.689 compared with the corresponding week in 1920. The Western Pacific report issned shows a net income of $2,808,533 for 1321. a compared wirh $2,416,212 for 1920. In explanation of this showing. President Charles M. Levy calls attention to the fact that in r.rriving Et the net for 1921 the company took Into account as non-operating income, rentals received from the government amounting to $2.$15,908 for the period from Jan. 1. 191$ to Feb. 29. 1920, operating expenses of $267,554 and various adjustments amounting to $20.70t. making an operating expense of $288,286 all for the control period. Inasmuch as these figures pgyfalned to operations for a period other than 1921. attention is called to the fact that an elimination of these items would leave $486,083 as the true addition to surplus for 1921 operations. The market is full of rumors regarding possible purchases by the railroads of equipment and locomotives, and so far these reports have been borne out by exceptionally good orders in the various fields. In the equipment circles here it is believed that the Pennsylvania should soon be in the market for 26.000 cars, with M„ K. & T.. Erie. Southern, Chesapeake & Ohio and Wabash alsc looking for equipment. Strength in Freeport Texas was due largely to the sharp rise in the 7 per cent 1937 bonds, convertible into stock at the rate of fifty-eight shares for each SI,OOO bond. The sale of these nonds was quite successful, and today they rose from their issue price of par to 113 The prospects of Freeport will be considerably enhanced by the develop ment of the Hoskins Slound sulphur properties, which Is taken over from the Texas Company through the proceeds of the tale of the issue of $4,000,000 of the ■►ode.—Copyright, 1922, by Public Ltdger Company,

A. T. Stock Exchange (By Thomson & McKinnon.) —May 4 Prev. High. Low. Close. Close. Ajax Rubber .. 11% 17% 17% 17Va Allied Cheiu. . 67% 66% 67 67% Allis Chaim. .. 50 49% 43% 53% Am. B. M. ... 48% 48 48 47% Am. Can 49 48% 48% 48% Am. Car. & F. .162% 162% 162% 162% Am. U. &L. pfd 68% 07% 07% .... Am. In. Corp.. 40% 46% 46% 40% Am. Loco 116 115 115 116% Am. Steel F. .39 38 % 38% 39% Am. S. A: Kef. . c*B% 5i% 5i% 58% Am. S. Itef. .. 75% 74% 75 75% Am. S. T. Cos. ~ 35% 3o 35 34% Am. Tel & Te 1.122 s 121% 122% 122 Am. Tob 141% 140% 140% 141 Am. Woolen .. 93% 92 92% 91% Anaconda 53% 53 53 53% Atchison 101% 101 101 101 Atlau. C. Line.. 101 101 101 100 Allan. G. &W. I. 37% 36% 36% 37% Austin Nichols. 26 25% 23% 23% Baldwin L0c0... .118% 17% 117% 118% B. & 0 47% 47 47% 47% Beth. S. (B) .. 78% 78% 78% 78% Brook. It. T 20% 23% 26 22% Cal. Pete 59% 58 58 58% Can. Pac. Rv...142% 141% 111% 142 Central Leather 38% 37% 38% 37% Chandler Motor 76% 74% 75% 75% C. 5. 0 65 64% 05 65 CM & St. P. com 27% 27 27 27% CM A St. P pfd 44 43% 43% 41% Chi. & North... 75% 75 75 74% C K I & Pac... 40 44% 45 45% C Kl&POpetp 81% 81% sl% 81% C It IvV P 7pct p 95% 95% 93% 95% Chili Copper.... 20% 19% 20 20 Corap. and Tab.. 78% 7 ! 7% 78 Cluett A P 58% 07% 5i% 57% Chino Copper .. 28% 28% 28% 28% Columbia Gas.. 89 88 88 89 Coca Cola 56% 55% 50 56% Col. Graph 4% 4% 4% 4% Cons. Gas 118% 117% 117% 117% Con. Can 07% 07 07 68% Corn Prod. ... 102% 102% 102% 102% Crucible Steel . 05% 64% 64% 05% Cuban Am. Sug. 22 22 22 22 Cuban Cane Sug 15% 15Vi 15% 15% Del. A Luck. . 115% 115% 115% 115% Erie 13% 13% 13% 13% Erie Ist pfd. .. 23% 23 23 % 23% Endieott & J. . 83% 83% 83% 84% Famous Pin vers 81% 81 81% 81 Fisk Rubber . . 19% 19 19% 19% Gen. Asphalt .. 65% 03 63% 63% Gen. Cigars ... 71% 71 71% 72 Gen. Electric ..163% 162% 162% 163 Gen. Motors ... 13 12% 13% 12% Goodrich 42% 41% 42% 41*4 Gt. North, pfd.. 75% 75% 75% 75% Gt. North. Ore 39% 39% 39% 39% Gulf States S. . 85% s:’.% si s*.% Hupp Motors .19 19 19 19 Houston Oil ... 83% 80% 82 80 Illinois Central 107% 107 107 luo% Indlahoma 4% 4% 4% 4% la. Copper 41% 41 41 41 Inter. Harv. .. 90% 96% 96% 96% Inter. Nickel .. 18% 1$ 18 18% Inter. Paper .. 52% 50% 51% 52% Invincible Oil .Is 17% 17% 18 Keystone Tire . 24% 23% 24 23% Keily-S. Tire .. 53% 51% 32% 50% Kenn. Copiier . 33% 33% 33% 3314 Luck. Steel .... 00 58% 58% 69 Lee Tire R. . 34% 34V* 34% 34% Lima Loco. ...11!% 111% 111% 111% Lehigh Valley.. 62% 62% 62% 62% Loews, iue 17% 17% 17% 17% Martin Parry... 32% 31V* 32 31% Marine com 27% 26 20 20% Marine pfd 87% $4% 84% 80' * May Stores 122'.* 120% 1201, 122% Maryland 0i1... 31 30% 31 30% Ilex. Petroleum. 134% 131% 132 132% Mid. States Oil. 15% 15 15 15'* Midvale Steel... 37% 30% 37% 37% Mo.-Pac. Ry 24 23% 23% 23% M.-Pac. Ry. pfd. 57% 57% 57% 57 Mont. & Ward.. 21% 21% 21% 21% National Lead.. 92% 92% 92% 93'., Nevada C. Cop. 17% 16% 16% 17% X. Y. Air Brake 79 79 79 79% X. Y. Central .. 90% 89% 89% 90 New Haven 25% 27% 27% 27% Norfolk 5c West 107'* 106% 107V* 107% Northern Pac... 77 76% 70% 77 Okla P * Ref Cos 3% 3% 3% 3% Owen Bottle com 35% 35% 35% 35% Pacific Oil 09% 60% 66% 65% Pan-Ara Pete... *91% 64% 04% 41 % Penn a Rv 42 41% 42 41 % People's Gas .. 87% 87% 87% 87% Pore Marquette. 31 " 30% 30% 30% Pien-e-Arrow .. 22 12% 22 21% Pierce Oil Cos.. 10% 9% 10% io% Pull Pal Car. .124 % 123 121 124% Pure Oil 34% 34 31 34% Ry S Springs. .102% 101% 101% 1"2% Reading 77% 77 77 77% Rep I & Steel.. 65% 64 64% 05% Replogle Steel.. 31 31 31 31% It Dutch of N Y 00% 04% 04 60 Sears Roebuck . 76% 75% 75% 75% Sinclair 33% 32 32% 32% Superior Steel.. 36 30 36 Sls-Shf. S. A- 1.. 44 44 44 45 Southern Pac.., 91% 90 90% 90% Southern Ity — 25 24"* 24% 24% St.l- A S.W.liy. 30% 30 30 30% Stud. Oil of Ca 1.120%.120% 117% 117% 120% Std. Oil of X. J. 196 190% 193% 191% St.L. & S.F.com. 31 30% 30% 30% Stewart A- War. 40% 40 402* 40 Strom. Oarb 56% 55% 56 56 Studebaker 122% 119% 120V* 121 % Tex. Gas & Sul. 14 4".% 43% 43% Tex. Coal A Oil 31% 30% 31% 30% Texas Cos 50% 48% 49% .‘hi Tex. a- Pacific... 35% 34% 34% 34% Tob. Products... 68% 67% 08 , 117% Trans. Oil 12% 12 12% 11% Union Oil 22% 22% 22% 22% Union Pacific... 138% 137% 158 137% United Fruit 141'* 141 141% 143% U. S. K. Stores. 53% 51% 52% 52% U. S. C. 1. Pipe 35 34% 31% V>% l. S. Indus Alio 50% 49% 50 5o U. S. Rubber.... 60% 65% 05% (25% U.S. Smelting... 41% 41% 41% 41 U.S. Steel 95% 97% 97% 97% U.S Steel pfd...118% 118% 118% 119 Utah Copper 66 05 65% 65% Van. Steel 42% 41% 41% 42% Wabash 11% 11V* 11% 11% Wabash Ist pfd. 31% 31% 31% .';!% Worth. Pump... 52% 52% 52% 53% West. Airbrake.. 95% 95% 95% .... West. Electric.. 02% 01% 01% 62 White Motors,... 50 48% 49% 49 W-Overland .... 8 7% 7% 7% White Oil 11% 11 II 11% Wis. Central.... 29 29 29 .... Woolworth 100% 160% 100'% 100 Wilson A Cos 46 46 46 46% NEW YORK LIBERTY BONDS. —May 4 Prev. High. Low. Close. Close. Liberty 3%s 99.50 99 2C 99.3S 99.31 Liberty Ist ls% 99.56 Liberty 2d 4s 99.48 99.34 Liberty Ist 4%* 99.50 99.70 99.70 99.74 Liberty 2d 4%5.. 99.54 99.48 99.50 99.48 Liberty 3rd 4V*9 99.80 99.80 99.82 99.80 Liberty 4ib 4Vis 99.90 99.85 99 84 99.5 t Victory 3%s 100.02 100.02 Victory 4%s 100.58 100.54 100.50 100.56

CHICAGO STOCKS. (By Thomson & McKinnon.) —May 1— Open. High. Low. Close. Am. Shipbuildg 09 Arm. & Cos. pfd. 9*5*4 96*4 9>l\, 96*4 CC & C Rvs. pfd. B*2 9 BVa 9 Chi. El. By. pfd. 8 12 8 10 Cudahy 05 Com. Edison... 130* j 1.'!0% 1 20 130 7 i Cent. Motors.. £ 7 * Deere A Cos. pfd. 72 72‘j 72 72(4 Diamond Match.ll2l4 Earl Motors... 3% Libby-MeNeill.. 2 7 <i :{ 2T* 2% Montgy.-Ward.. 21 7 8 22 21*4 21*4 National Leather 2>j Natl. Leath. new 1 *'/, 8 % 9 1 ’ 2 91l let & Cos 27 >■> Pig. Wig “A”. 48(4 52*4 48 51 (4 •Quaker Oats... 95 Reo Motor 24'4 Stewart-Warner 40 40(4 40 40(4 Swift &Cos 101 101 a 4 10114 10134 Swift Internatl. 20(j 20(j 20* 2 -<>'A Thompson J. R.j 50 50 48*4 48(4 l’n. Car. A Car. 58 58 57'j 571,4 Wahl 67 0*514 07 Wrigley 102*4 102*4 102 (j 102(4 Yellow Taxi.... 76(4 76>i 75 75 NEW YORK METAL MARKET. NEW YORK. May 4.—Copper—Quiet; all positions offered. 12 :t 4 c. Lead—Quiet ; all positions. 5.2505.35 c. Spelter—Quid ; spot and May offered, 5.06 c; June and July offered, 5.10 c. NEW YORK HIDES. NEW YORK, May 4. — Elides were again steady in trade on the market today, native 6teer hides selling at 13c' and branded steer hides at 12c per pound. NEW YORK WOOL. NEW YORK. May 4. Wood prices ruled firm in trade on the market today. Prices of the past week were well maintained. NEW YORK PET ROLEI.U. NEW YORK. Petroleum prices were again steady in trade on the market here today. Pennsylvania crude selling at 83.25 per barrel. NEW YORK TERPENTINE. NEW YORK. May 4.—Turpentine sold at 86c per gallon in trade on the market today. . STANDARD OIL OF INDIANA. ftdee, 22.000 shares. • Open. 1B(4; high. 109(4 1 lew, 106(4; ?• toee, 107(4.

STOCK MARKET TONE IS HEAVY Heavy Selling Features Final Hour of Dealing. NEW YORK. May 4.—The stock market closed heavy today. Heavy soiling came into many issues in the last hour, losses of from 1 to 2 points occurring in the active shares. Pacific Oil yielded 3% points to 05% and losses of about 2 points were sustained in the other oil issues. The railroad list was also in supply. Rock Island falliug over 1 point to 44%. United States Steel yielded % of a point to 97%. tndebaker dropped to 119%. Government bonus were unchanged and railway and other bonds heavy. Total sales of stocks for the day were 1,440,1(10 shares; bonds, $17,179,(XX). (By Thomson A McKinnon) —May 4 The market is big, but progress is limited except in a small group of stocks—mainly the higher priced oils. The market lias attained a tremendous momentum and just naturally will continue uwtil checked by a diminution iu the demand. There was nothing in the day's news that presented any new reason for further advances. News from Europe is susceptible to a variety of interpretations. From Central Europe we have a warning of possible trouble, due to food shortage and there is as yet no assurance as to definite accomplishments at the Genoa conference. The diplomatic maneuvering that is going on has disclosed the fact that there are vns; fields to be exploited. Many concessions will go to the larger companies and this may be at least a partial Oasis for the recent activity in the shares of leading oil companies. The market in general continues to in diente liberal distribution. Otherwise, it would be impossible to have such large daily transactions with no substantial advances. Impartial analysis inevitably leads to conclusion that the market is now in a poor technical position. This does not necessiarily mean that we are in danger of a severe decline but it does mean that the market is no longer in a position to successfully resist unfavorable developments and therefore we are of the opinion that long stocks should be gradually marketed. TWENTY STOCKS AVERAGE. NEW YORK, May 4.—Twenty industrial stocks Wednesday averaged 93.81, up .17 per cent. Twenty active rails averaged 54.44, up .15 per cent. CLEANING HOUSE STATEMENT. NEW YORK, May 4—Exchanges yesterday were $924,500,000; balances, $71,900,000: Federal Reserve Bunk credit balance, $58,300,000. Money and Exchange Indinnapolis bank clearings Thursday were $4,255,M5); bank debits, $8,407,000. NEW fORK, May 4—The foreign exchange market opened irregular today, whli demand Sterling l-16c higher at $4 43 15-16. Francs were off l'/ 4 centimes to 9 14%e for cables and to 4 14V*o foi checks. Lires were V* of a point higher at 5 33% for cables and 5 33%c for checks. Belgian francs yielded 3 centimes to 8 35c for cables and to 534%c for checks. Marks rose 1 point to 0034%c. Guilder cables were 38 38c; checks. 38.33 c. Sweden kronen cables were 25 92c; checks, 25.87 c. Norway kronen cables were 18.52 c; chocks, 18.47 c. Denmark kronen cables were 21.26 c; checks, 21.21 c. NEW YORK CALL MONEY. NEW YORK. May 4. Money—Call money ruled 4% per cent; high, 4% per cent; low, 4 per rent. Time rates, quiet; all 4<v/4% per cent. Prime mercantile paper. quiet. Sterling exchange was strong with business iu bankers’ bills at $4.43% for demand. MOTOR SECT RITIES. (By Thomson A McKinnon 1 —May 4. • —nosing— Bid Ask Earl Motors 3% 3% Packard com 11% 11% Packard pfd 83% 85 Continental Motors coin 8% 9 Continental Motors pfd 90 93 Hupp com 10 19% Hupp pfd 98 103 Reo Motor Car 21 24% Elgin Motors 2% 3 Grant Motors 1 1% Ford of Canada 379 375 National Motors 1% 2% Federal Truck 22 ‘Ji Paige Motors 21 22 Republic Truck 8 8%

ACTIVE OIL STOCKS. (By Thomson A McKinnon.) —May 4 —Opening— Did. Ask. Anglo-American Oil 21(4 21(4 Borne-Scrymser 350 370 Buckeye Pipe Line 97 99 Chesebrough Mfg. Cons 2 0 215 Continental Oil, Colorado ....144 147 Cosdcu Oil and Gas 5 8 Crescent Pipe Line 33 35 Cumberland Pipe Liue 140 150 Elk Basin Pete 8(4 B*4 Eureka Pipe Line 100 163 Galena-Signal Oil, Prof. ..lost 114 Galena-Signal Oil, Com 58 00 Illinois Pipe Line 196 200 Indiana Pipe Line If*' 103 Merritt Oil 13 13(4 Midwest Oil 2(4 3 Midwest Itfg 200 National Transit 30(4 31(4 New Y’ork Transit 172 177 Northern Pipe Line 106 lOS Ohio Oil 330 335 Prairie Oil and Gas 625 635 Prairie Pipe Line 232 237 Sapulpa Refg 4 4(4 Solar Refining 350 370 Southern Pipe Line 104 107 South IVnn Oil 220 230 Southwest l’enn Pipe Lines .. 60 05 Standard Oil Cos. of Ind .. JUS** 108(4 Standard Oil Cos. of Kan. ...560 580 Standard Oil Cos. of Ky. ... 81 82 Standard Oil Cos. of Neb. —205 220 Standard Oil Cos. of N. Y. ...422 428 Standard Oil Cos. of Ohio ...470 490 Svan 5c Finch 30 40 Vacuum Oil 410 420 Washington Oil 20 30 NEW YORK VERB MARKET. (By Thomson & McKinnon) —May 4 Closing Bid. _ Ask. Acme Packing 55 05 Curtis Aero, com 4(4 4% Curtis Aero pfd 24 26 Boston Ac Montana 20 21 Boston & Montana Corp. 94 90 Goldfield Con 7 9 Jumbo Extension 3 5 International Petroleum. 22% 22's Kirby Oil 11(4 12 Nipissing r > 6s Standard Motors • , 5(4 Salt Creek 1”% l'vfe Tonopah Extension I 1 2 I's1 's Tonopah Mining 13 16 1 5-16 United P S new 6(4 7(4 1 S. Light and Heat.... 1(4 1% E. S. Light & Heat pld.. 1% 1% Wright-Martin 2 5 Yukon Gold Mine Cos 1 1% Jerome “(a J's New Cornelia 16 19 United Verde 28 28(4 Sequoyah j* Omar Oil 2H"16 Republic Tire 61 i0 NEYV YORK St GARS. NEW YORK. May 4—Raw sugars were a Diet in trading 01 the exchange today. Cubas were quoted at 4.11 c per pound, duty paid, and Porto Ricos at 3.92ft3 98c per pound, duty free, delivered. Refined sugars also were quiet, fine granulated selling at 5.25(0:5.50c and No. 1 soft at 5.20(05.50c per pound. NEW YORK COFFEE. NEW YORK, May 4.—Coffee values were steady in trade on the market here todav. opening options being 2 to 5 p, aits higher. Bio No. 7 on .spot sold at 11(011 ( t c per pound. NEW YORK RICE. NEW YORK, May 4.—Rice was unchanged on the market here today, domestic again selling at 3(4@7(ic per pound. WAGON WHEAT PRICES. Indianapolis Hour mtits and elevators yesterday were paying $1.35 per bushel for No. 1 red winter wheat; $1.33 for No. 2 red winter and according to teat tor No. 3 tad winter.

INDIANA DAILY TIMES.

Weather The following table shows the state of the weather at 7 a. m.,.May 4, as observed by U. S. Weather Bureau: Station. Bar. Temp. Weather. Indianapolis, lud.. 29.82 62 Cloudy Atlanta, Ga 29.90 62 Cloudy Amarillo, Texas 29.90 50 Clear Bismarck, N. D.... 29.78 44 Cloudy Boston, Mass 30.10 46 Rain Chicago. 11l 29.76 62 PtCldy Cincinnati. 0 29.82 62 PtCldy Cleveland, 0 29.82 56 Cloudy Denver, Col 29.96 42 Cloudy Dodge Citv, Kas... 30.00 46 Clear Helena, Mont 20.94 48 Cloudy Jacksonville. Fla... 30.02 70 PtCldy Kansas City, Mo.. 29.88 58 Cloudy Louisville, Ky. 29.82 64 Cloudy Little Rock, Ark.. 29.86 60 Clear Los Angeles, Cal.. 30.06 54 Cloudy Mobile, Ala 29.96 70 Rain New Orleans. La . 29 94 70 Rain New York, N. Y.. 29.94 58 Cloudy Norfolk. Va 29.98 66 Cloudy Oklahoma City ... 29.90 60 PtCldy Omaha. Neb 29.92 50 Clear Philadelphia, Pa... 20.92 64 Cloudy Pittsburgh, Pa 29.82 62 Cloudy Portland. Or- 50.02 56 Cloudy Rapid Citv. K. D... 29.92 4.8 Cloudy Roseburg. Ore 20.10 54 Cloudy San Antonio. Tex.. 29.90 66 Cloudy Ran Francisco, Cal 30.10 48 Clear St. Louis, Mo 29.82 62 PtCldy St. Paul. Minn 29 12 52 PtCldy Tampa. Fla 80.02 18 Clear Washington, D. C.. 29.88 64 Cloudy WEATHER CONDITIONS. Since Wednesday morning onset tied weather with shower* !ui* been general over the eastern nnd southern States and In localities from the Lakes region westward to tlie Pacific coast, while fair weather has prevailed In the far Southwest. It Is cooler in the northeastern States and warmer generally over the far Northwest and the Great Basin. Lower temperatures with fcosts Di localities are reported from the northern Red River Valley southward over the Plains States to Kansas. CORN AND WHEAT BULLETIN. For the twenty four hours ending at 7 a. m., Thursday, May 4, 1922; Temper 1 ature |a- ”" , o Station* of I c # Indianapolis £ £ ixj _c ** District. **?£** * I=S SSS_ South Bend 73 | 54 ! 0.93 | Good Angola 68 50 007 I Good Ft. Wavne 68 ! 52 ! 0.14 i Wheatfi'eld 68 J 55 0.38 | Royal Center .. 70 I 54 j 0.06 ! Good Marion 70 I 52 ; 0 ; Good I.afnyette 72 j 55 | 0.00 ! Good Farmland 72 | 52 i 0.10 Good Indinnapolis .... 09 59 1 0 Good Cambridge City. 68 ; 55 | 0,03 Good Terre Hante .... 72 j 58 | 001 Bloomington ... 72 I 54 i 0.02 Fair Columbus 74 j 54 | 0.02 Good Vincennes 75 I 58 0 Good Paoli 72 | 55 | 0.02 Fair Evansville 72 | 60 | 0 | J H ARMINGTON. Meteorologist. Weather Bureau. Local Stock Exchange —May 4. STOCKS. Bid. Ask Ind, Ry. A Light com 57 ... Ind. Ry. & Light pfd 78 ... i Indpls, St. Ry 43 I rid pis N W. pfd Indpls A 8. E pfd T. H . T. 4 I. pfd 70 T. H., 1 A E. com 5 •r. H, I. A E. pfd 15 U. T. of Ind. com 1 [U.T of Ind Ist pfd 4% 9% [ U. T. of Ind. 2d pfd 2 Advance Kuraely Cos. pfd..., 47% ... Advance Rumely com ... 1 Am. Central Life 200 ... Am. Creusoting pfd 94 ... Belt R R. pfd 50 Belt. R. R. com 60 ... Century Bldg Cos. pfd 93% ... Citizens Gas Cos 20 City Service com 232 237 City Service Cos. pfd 65 67% Dodge Mfg Cos. pfd 85% ... Home Brewing 47 ... Ind. Hotel c0m..... 86 ... Ind. Hotel Cos, pfd 99 ... Ind. Nat. Life Ins. Cos 2 ... Ind. Title Guarantee 50 Ind Pipe Line 99 ... Indpls. Abattoir pfd 45 ... Indpls. Gas 44 ..* Indpls. Tei. pfd 90 ... Indpls Tel com 5 ... Mer, Pub. Util, pfd 48 Natl. Motor Car Cos 1 3 Pub. Savings Ins. Cos.. 5% ... Raub Fer. pfd 47% Stand. Oil of Indiana 105 108% Sterling Fire Ins Cos 7% ... Van Camp Hdw. pfd 90 ... Van Camp Prod Ist pfd.. 100 Van Camp Prod. 2d pfd ... Vandalia Coal Cos. com ... Vandalla Coal Cos. pfd ... Wabash Ry. pfd ... Wabash Ry. com , ... BONDS. Broad Ripple 5s 60 63 Citizens St. Ry 5s 78 Indian Creek Coal A Mine 6s ... 100 Ind. Coke & Gas 5a 86 Imlpls. C. & 8 5s 91 Vi ... Indpls. A Maftinsville 55.... 65 Indpls. A North. 5s 39% 44% Indpls. Street Rv 4s 58 61 Indpls. A N. W. 5s 49% 54 Indpls. A S. E 6s 43 Indpls. Sbelb A S. E. 55... 54 ... T. H, I. A E 5s 65% ... Indpls. Gas 6s 85 Citizens Gas 84% 8$ Kokomo. M. & W. 6a 86 ... Ind Hotel Cos 6s „ 98% ... Indpls. Water 6s 95 ... Indpls. Water 4%s 81 85 Indpls. T. A T 78 Indpls. \j. A H. 5s BS% 93% U. T. of lud. 6s 60 Mer. H A L 5s 98% 100 New Tel. I, D. 5s 96% ... New Tel Ist 6s 96% ... South. Ind. Power 6s 86% 91%

Local Curb Market (By Newton Todd.) —May 4. Bid. Ask Am. Hominy Cos 10 16 Central and Coast Oil % ... Choate Oil Corp *4 \ Commonwealth Fin. com. ... 28 38 Commonwealth Fin. pfd. ... 48 59 Columbia Fire Ins Cos. ... 6 7(4 Dayton Rubber Units...... 43 53 Dictograph Prod, pfd 27 37 D. YV. Griffith 3(4 6(4 Elgin Motor Car 2 Sts Fed. Fin. Cos. pfd 77 87 Fed Fin. Cos. com 123 133 Gt Sou. Prod. & Ref .... 6 9(4 Interstate Pub. Serv. pfd. ... 81 81 Metro, 5-10 c Store com 8(4 7 Metro, 5-lOc Stores pfd. ... 19 27 Nat. Underwriting 2(4 5 Rauch & Lang Units 21 31 Robins Body Units 18 25 Rub. Tex. Units 10(4 i IT. S. Auto Units 30 40 U. S. 51 fg. Cos. Units 105 125 BANK STOCKS. Commercial Nat. Bank .... 74 03 Cont Nat. Bank 104 114 Ind. Trust Cos 176 Ind. Nat. Bank 253 265 Mer Nat. Bank 282 Nat’l City Bank 71 81 Security Trust Cos. 131 140 State Sav. & Trust 94 98 Union Trust Cos 300 Wash. Bank & Trust Cos. .. 160 CHICAGO PRODUCE. CHIAGO, May 4.—Butter—Receipt s. 5.500 tubs; creamery extras, 35c; standards, 33(4e; firsts, 29(§133(4e; packing stock, lo@lßc. Eggs—Receipts, 29.000: current receipts, 23(4c; ordinary firsts. 21(4@22c; firsts, 24(4c; checks, 19(4c; dirties, 20(4c. Cheese—Twins, new, 15(4 015%e; daisies, 15%@16c; young Americas, 13(4c; Longhorns, 16c; bricks, 14(4@15c. Live poultry—Turkeys, 25c; chickens, 26c; roosters, 16c; geese, ISc; ducks, 25c. CLEVELAND PRODUCE. CLEVELAND, May 4.—Butter—Extra, 45(a@46c; prints, 46Vjj@47c; firsts, 44(4@45c; packing stock, 17@19e. Eggs —Fresh. 29c; Ohio firsts, 25(4@26c. Oleomargarine, 21022 c; high-grade and mal oils, 22@22(4c; lower grades, 16@17c. Cheese —York -State, 22([email protected]. PoultryLive fowls, [email protected]; roosters, 18c; broilers, 40(060c; yearlings, 30051 c.

GRAIN VALUES CLOSE AT LOSSES Milling Demands and Elevatars Interest Only Buyers. CHICAGO, May 4. —Wheat prices closed lower on the Chicago Board of Trade today. Buying was dull throughout the day. Most of the grain on the market was absorbed by local milling and elevator interests, but there was no general widespread demand. Favorable crop conditions for corn caused prices to sag fractionally. Oats was irregular. Provisions were higher. May wheat opened at $1.44%. off %c, nnd closed down 2c. July wheat opened at $1.28%, off %c, and closed down Ic. September wheat opened off %c at $1.20 and closed down t%c. May corn opened unchanged at 62%e and closed unchanged. July corn opened unchanged at 60%c and closed off %c. September corn opened unchanged at 68%c a.id closed off %c. May oats opened- unchanged at 37%e and closed up %c. July oats opened down %e at 40%c and closed up %c. September oats opened unchanged at 42c and closed off %o. By Thomson A McKinnon. —May 4Wheat—English parcel markets are depressed because of very slow demand. Very much the same condition exists in our own market, today’s dragging tendency being due to that condition rather than to any increase of offerings. There have been some suggestions of moderate export business iu the new crop but no evidence of anything doing in old wheat. There were further reports of movement of old wheat from outside markets to Chicago although volume not thought to be large. It is said that somif 300,000 bushels will soon lie loaded out of elevators here for shipment East. The leading spring wheat market notes purchase of small amount of Canadian wheat, prewiring cash prices permitting this transaction. The Government report to lie Issued Tuesday next will, in nil probability, disclose a liberal abandonment of winter wheat acreage, but it is believed that Ihe condition <jf growth will lie better than previous reports The situation in the market remains one of a distinctly unimportant demand for old wheat at the moment which is considerably Ignored by the commonly accepted belief that the future course of prices will tie largely dependent upon the outcome of our crop, it also recognized that values have withstood favorable crop news and poor demand for old wheat thereby placing market in position to be very responsive to any adverse crop news or revival of cash demand. Corn nnd oats—lt was generally rewestern States were Increasing tlietr offerings of cash corn, nonetheless the cash market and the May delivery are showing independent strength. There Is also a better undertone in the nearby deliveries of oats although it cannot be said that there is any material Improvement in the shipping demand. The present fa 'able weather is permitting completion of corn planting and while this is under way, it Is not to lie expected that the farmer will stop work to haul corn to market. There is considerable friendliness to both of these grains although at the moment both markets are quiet. Provisions—A very sharp advance in Liverpool lanl price* was accompanied by a demand in the provision market thought to In- for foreign account. Market was responsive because of very light offerings Recent deliveries have gone to strong hands. CHICAGO GRAIN TABLE. —May 4 WHEAT— Open High. Ixw. Close. May 1.44% 1.43% 1.42% 1.42% July 1.2.81* i.2si* 1.27 1.27'* Sept 120 1.20 1.18% 1.18% CO It X May tr.”-* .03% .02% .02% July 66 : % .00% .66% .65% Sept 08% .<>% .68% .60% 1 (ATS - May 47% .37% .37% .37% July 40% .40% .40% .40% Sept 42 .12% .41% .41% PORK—♦May 2123 LARD— May 31 30 11 50 11.30 11 45 July 11.52 11 75 11.46 11.67 Sept 11.17 11.97 11.(55 11.90 It IBS - May 12 22 12.50 12.20 12.50 Jul v 11.70 12.00 11.70 11 92 Sept 11.65 11.90 11.00 11.85 in 1: - May 109% 1 00% 1 ' 1 July 1.06% 1.00 1 05% 1.06% •Sept .9c j •Nominal. CHICAGO CASH GRAIN. CHICAGO, May 4—Wheat—No. 2 red, $1.45; No. 3 red, $1 41 ; No. 2 hard winter. $1.44%®1.45% ; No. 3 hard winter. $140; No. 2 yellow. $1.44% : No 2 mixed, $1 38% Corn—No. 2 mixed, 63%®03%e : No. 2 white. 04 %%01 %c ; No. 2 yellow. Oil/ iU%,-. No. 5 mixed, 62%@63c; No 3 white, 63%<!?6%0; No 3 yellow, 63® 03%c: No. 4 mixed. 62c: N" 4 white. 62%c, Oats—No. 2 white, 40%®43c; No. 3 white, 38%®39%c ; No, 4 white, eM /.t’Jc.

TOLEDO SEED AND GRAIN. TOLEDO. May 4.—((lover seed Cash, $13.75; October. $11.45 Alslko—Cash, $10.06; August, sll. Timothy Cash, $3.05, May, $3.05; September, $3.16: October, $5 to. Wheat—< ash, $141**0141; May, $1.41%; July, $1.30. Corn—Cash, 07(40 its j,*. Oats—Cash. 44046 c. Rye—Cash, SI.OB. Barley—Cash, 09c. PRIMARY MARKETS. (By T liomsnn & McKinnon.) May. 4. —Receipts— Wheat. Com. Oats Pt Joseph.... 10,000 20,000 2,000 Chicago 328, t00 248,000 122,000 Milwaukee ... 6,000 152.000 112.00.) Minneapolis... 101.000 33.000 43,000 Dill ith 85,000 8,000 St Louis 78.000 CO.OoO 30.000 Toledo S.ooo 4,000 4,000 Detroit 4,000 5.000 6,000 Kansas City... 95,000 30.000 15,000 Omaha 4t,000 1 32.0(H) 38.000 Indianapolis 27,000 21,000 Totals 817.000 737,000 402.000 Year ag0.... 688,000 589.000 438,000 .—Shipments— Wheat. Corn. Oats. 9t Joseph.... 19,000 29,000 Chicago 18.000 38,000 220.000 Milwaukee ... 0.000 45.000 17.000 Minneapolis... 78.0(H) 66,000 119.0<)0 Duluth ...... 310,000 91,000 St Louis 79,000 40,000 83,000 Toledo 10,000 7,000 4.000 Detroit 5.000 4.0(H) Kansas City.. 146.000 29.000 53.000 Omaha 129,000 81.000 18.000 Indianapolis 14,000 10,000 Totals 795,000 354.000 619.000 Year ag0.... 581.000 1,151,000 334,000 —Clearances— Wheat. Corn. Oats. New York 17.000 20,000 Totals ~ 17.000 20,000 Year ag.... 884,000 152,000 ....... INDIANAPOLIS CASH GRAIN. —May 4 Bids for car lots of grain and hay at the call of the Indianapolis board of Trade were! Wheat —Steady; No. 2 red. $1.41(01.45. Corn— Strong; No. 3 white, 05007 c; No 4 white, 64@66c: No. 3 yellow, 05(0 tS7o; No. 4 yellow, 64000 c; No. 3 mixed, fiSMtCSWV&c; No. 4 mixed. O2 I ,io'O4V*e. Oats—Firm; No. 2 white, 42*4@43(ic; No. 3 white, 41 042*4c. Hav Steady; N<>. 1 timothy, $19(019.50; No 2 timothy. $lB 50019; No. 1 light clover mixed, [email protected]; No. 1 clover, $19.50020.50. —lnspections — Wheat—Sample. 1 car. (j or n—No. 2 white, 1 car; No. 3 wlnte, 2 cars- No. 4 white, 1 car: No. 5 Svlilte, 1 car- No 3 yellow. 3 cars; No. 5 yellow 3 cars; No. 6 yellow. 4 oars; No. 3 mixed. 1 car; No. 4 mixed, 1 cart No. 5 mixed, 1 car; No. 0 mixed, 1 car; total, 19 cars. _ ...... Oats—No. 3 white. 9 cars; No. 4 whP<\ 2 cars: total, 11 cars. jj ve No. 2, 1 car; No. 4, 1 car; total, 2 cars. HAY MARKET. The following are the Indianapolis prices (or hay, ov the wagon load, del'vered in Indianapolis: Hay—Loose timothy. $17(018; mixed nay. $16(017; baled hay, $17(018. Oats—New, per bushel, 42045 c. Corn—Both old and new, per bushel. 60 W6sc,

SWINE 10 TO 20 CENTS LOWER Cattle Steady Generally— Steers Weak to 15c Lower. RANGE OJ HOG PRICES. Good Good Good April Mixed. Heavy Light. 28 . $10.70® 10.80 $10.65 @ 10.80 [email protected] 28. 10.701® 10.80 [email protected] [email protected] V '.y *. 10 [email protected] [email protected] [email protected] 2. [email protected] [email protected] [email protected] 3. 10 75®10.80 10 G0(a1<).75 30.80(010.90 4. 10.60(4/10.65 lO.UX&lU.OO [email protected] With receipts around 6,000 and neither* the shipping nor the packing demand none too active, swine prices were 10c to 20c lower In trade on the local live stock exchange today. There was a top of $10.75, st which there was a fair number of sales, while the bulk of the sales for the day ranged at [email protected]. Trading, following the opening hour, was of a fair nature, and a fair clearance for the day was anticipated. Cattle values were steady generally, but steers were weak to 10c to 15c lower In spots. Receipts for the day ran close to 1.000, but the weakening effect of large . receipts was offset by the good quality of j stuff that was offered. Bulls were in good demand, and, with I the supply rather short, prices were j stronger. Veals were ,V*c lower generally, due to large receipts and a rather slow demand by shippers with Eastern house connections. Receipts for the day ran close to 800. The quality was fair. W.th 150 sheep and lambs on the market, prices were steady generally. However, there were a few sales of good springers at prices that looked stronger. HOGS. 100 to 180 lbs average $lO 65@ 10.75 Over 300 lbs 10.50 150 lbs to 3')o lbs 10.50(§10 75 Best pigs, under 140 lbs [email protected] I Top 10 75 Roughs Stags 6.25(ii 7.23 j Bulk of sales [email protected] —Cattle— Prime corn-fed steers, 1,000 to 1.800 lbs 7.55® 8.35 Good to choice steers. 1.200 to 1.300 llis 7.25<g 7.75 Good to choice steers, 1,100 to 1,200 llis 6.65@ 7.10 Good to choice steers, 1,000 to 1,100 lbs 5.85® 6.10 Common to medium steers 800 to 1,800 lbs 5.05® 5.75 —Cows* ami Heifers— Good to choice he'fers B.oo® 8.50 Medium heifers 7.50@ 8.0 t) Common to medium heifers.. 66.50'i T.'O Good to choice cows. 6.50® 7.25 Fair to medium cows 4 75<a t!.(X) Canners 3.00@ 4.00 Cutters 3.uo<@ 3.75 —Bulls— Fancy butcher bulls 5.75® 6.50 Good to choice butcher bulls.. 5 00® 6.25 B 'logna 1 nils 4 JQ@ 4.75 Light blogua hulls S.'s'® 4JX) le.ight CoUituou hulls 3.25@ 3.00 - —Calves— Choice veals [email protected] Good veals 8.50® 9.00 Medium veals ".■'xXit 8-50 Common to heavyweight veals 7.'<>@ 7.30 Lightweight veals C.OO® 7.00 —Btockera and Feeders— Good to choice steers under 800 lbs 6 25@ 7.50 Medium cows 3 00® 4.00 Good cows 3.75® 4.73 Good heifers 6 00® 700 Medium to good heifers 42)0® 6.00 —.Sheep and lambi Cull ewes 2.50@ 5.0 u Good to choiee ewes 5.50® 8.50 Bucks 2.50® 3.50 Clipped lambs 10 [email protected]) Held iambs 12 Mil/. 1.1.50 Springers 14.00® 16.00 Buck lambs 6.00® 7.00 Culls 4.90® 6.00

Other Livestock ! CHICAGO. May 4.—Hogs—Receipts, 20,000; market, mostly 15 to 20 cents higher; tAiik of sales, $10010.60; top. $10.65; heavies, $10.15(010.45; mediums, $lO 35010.00; lights. $10.50010.65; light lights, $10.40(010.(50; heavy packing sows, smooth. $9.40(09.85; packing sows, rough, $9.25109 50; pigs. $10(010.50. Cattle Receipts, 13,000; market, active and generally steady ; top yearlings, $9.25. Beef steers—Choice and prime, $8.60(09.25; medium and good, $7.60 08.60; good and choice. $8.25(09.10; common and medium. ; $7n8.25. Butcher cattle Heifers, $5.75(0 j 8.50; cows. $4.75(07.35; bulls. $4.0500.73. ] Oannors and cutters—Cows and heifers. |s3 6504.75; runner steers, $4.5005.75: 1 veal calves, light and handy weight, $6.25 v 8.50; feeder steers. $6.15(1 7.75 . common 1 stocker stivers, $5.85*07.65. Sheep and 1 lambs —Receipts, 10,000; market, steady ! to lower; good to choice lambs. $120.15; I cull and common lambs, $10012.25; springers, $14(017; yearling wethers, $lO ft 13 ; ew es. $6.50*09.25; cull and common ewes, $2.50(05.75; breeding lambs, S3(O 6.50. CINCINNATI. May 4.—Hogs—Receipts, 4.IHH): market, strong to 10 cents higher; 1111 grades good hogs, $10.70; pigs, $lO 25; roughs. $8.50; stags. $5.25. Cattle—Receipts. 600; market, weak to 25 cents lover; steera, weak to 25 cents lower; butcher stock, slow steady; bulls, steady; calveg, $9.50. Sheep and Lambs—Receipts, 600; market, steady; ewes. $8; clipped ewes. $601 7; springers. $17.50. CLEVELAND. May 4 Hogs— Receipts. 4.000; market, steady; yorkers, mixed anil mediums, $11.15(011.25; pigs, $11.50; roughs. $8.50; stags, $5.50. Cattle —Receipts, 250; market, 15 cents lower generally. Sheep and lambs—Receipts, 1,000; market, steady; top, $11.50. Calves —Receipts. 500; market, steady; top, $lO. SIOUX City, lowa, May 4 —Hogs—Receipts, 6.00 O; market, i oo2oc higher: range, $8.75(010.15; bulk of sales, $9.75 @lOlO. Cattle- —Receipts. 1.500; market steady; short feds, $6.<[email protected]; fed butchers. [email protected]; caliners and cutters. S2(O 4.25; stockers and yearlings, $5.5007.50; feeders, $6(07. Sheep—Receipts, 300; market steady. EAST BUFFALO. May 4.—Hogs—Receipts, 16,000; market, active; yorkers, SIU4O; I‘igs, 11.40 down; mixed. $11,250 11.40; heavies, $10.50011.10; roughs, s'.)o 9.25; stags, s3o!*). Cattle—Receipts, 19); market, active; shipping steers. $.808.50; mutcher grades, $7.2508.40; heifers, $5.50 06.75; bulls, $3.7506. Calves — Receipt s, 800; market, slow; cull to choice, $4(011. Sheep and lambs —Receipts, 1.800; market, slow; choice lambs, $15015.50; cull to fair lambs, $6014.75; yearlings. SBO 12; sheep, S3OIO. EAST ST. LOUIS, May 4.—Hogs—Receipts, 7,500; market, 10 to 15 cents higher; mixed and butchers. $10.50010.65: good heavies, $10.40010.60; roughs. $8.85 09; lights, $10.50010.85; pigs, $9,250 10.45; bulk of sales, $10.50010.60. CattleReceipts, 1,500; market, steady; native beef steers, $8.1508.75; yearling steers and heifers, $8.2509; cows, $4.5006.50: Stockers and feeders, $4.5007.50; calves, $308.50; canners and cutters, $3,250 4.50. Sheep and lambs—Receipts, 700; market, steady; mutton ewes, $8.5009; good to choice lambs, $12014.25; canners and choppers, $104.50. FITTSBUKGH, May 4.—Hogs—Receipts, 1,800; market, steady; prune heavies, $10.90011; mediums, $11,250 11.35; light and heavy yorkers, $11250 11.35; pigs. $11.35 down; roughs, $808.85; stags, $4.5005.25; heavy mixed, sll.lO. Cattle—Receipts, light; market, steady: choice, $8.5508.85; prime. S.B 250.8 80: good, $7.8508.10; tidy butchers. $7.5008; fair, $6.2507 25; common. ss@6 50; common to good fat bulls, s3ft'6; common to good fat cows, s3@6; heifers. $5.5007.50; fresh cows and springers. $35075: veal valves. sll ; heavy arid thin calves, $5,500 9.50. Sheep and lambs—Receipts. 1,200. market, steady; prime wethers, $9,500) 10; good mixed, $809; fair mixed, S6O 7.50; culls and commons, $204: choice lambs, $15.50; springers, sl9. INDIANAPOLIS PRODUCE. Eggs—Fresh, 22@22*c. Butter—Packrng stock. 16017 c. Poultry Fowls, 180 23c; broilers, 1% to 2 lb. size., 45c: leghorn stags? 14c; broilers, at discount: cocks, 14c; young hen turks. S ]b s . and up. 35c; young tom turks, 12 lbs. and up, 85c; old tom turks. 30c; cull thin turkeys not wanted; ducks, 4 lbs. and up, I 15016 c; geese, 10 lbs. and up. 14c; squabs. 11 lbs to dozen, $5.5006; old guineas, per dozen. $3. Butter—Local dealers are paying 350 BCc per lb. for butter delivered in Indianapolis. Butterfat—Local dealers .are paying 35c per lb. for butterfat de!i ered in laUianapolU.

In the Cotton Market NEW YORK. May 4.—The cotton market opened active and unsettled today. August showed an advance of 8 points, while other months were unchanged to 6 points lower. Private advices reported rain in the belt, but the forecast indicated clearing •onditlous which caused profit taking by commission houses. Later, the list was a little firmer, advancing about 5 points over initial levels. New York opening cotton prices: May, 19.73 c; July, 18.95 c; August, 19.00 c; Octob. r, 10.08 c. Tuc market was irregular in the last hour, closing steady at a net decline of 19@27 points. —Cotton Futures— Open. High. Low. Close. January 19.04 19.28 18.73 18.73 March 19.10 19.25 18.82 18.82 May 39.73 19.89 19.49 39.50 July 18.95 19.20 18.74 15.76 October 19.10 19.00 18.66 18.90 December 18.18 19.40 18.95 18.95 —Cotton Review.— NEW YORK, May 4.—The new-s today was again bullish. Further rains were reported. The Southwest basis was higher and a private estimate on the acreage makes the increase but 2.6 per cent. All estimates on acreage will have to be revised, because there can be no doubt now of considerable abandonment, due to the continued rains and overflows along the rivers nnd creeks. Traders anticipated an improvement in the weather and this brought on considerable profit-taking, but there was a fair demand encountered on the recessions nnd at the present time it looks as though further rains are likely and each day of this kind of weather makes the outlook for the crop more doubtful.

■JET Unlisted Stocks SELL See Local Curb Market. 415 Lemcke Bldg. [ E UUU

Statement of Condition OF THE American Liability Company CINCINNATI, O. Citizens Natl. Bank. ?■* ON THE 31st Day of December, 1921 J. AMBROSE JOHNSTON, President C. H. MUDUS, Secretary. Amount of capital paid up....$ 150,477.23 NET ASSETS OF COMPANY. Cash in banks (on interest ard not on interest) ..$ 11,363.67 Bonds and stocks owned (market value) 237,070.44 A-crued securities (Interest and rents, etc.) 2,604.43 Premiums and accounts due and In process of collection 4,210.06 Total net assets $ 235,848.62 LIABILITIES. Reserve or amount necessary to reinsure outstanding risks S Losses due and unpaid i 2.. Reserve unpaid liability Bills and accounts unpaid ... 3-l.io Other liabilities of the company 8..36.3. Total liabilities * o'} Surplus 81.604.06 Total * 256,848.62 State of Indians, Office of Commissioner of Insurance. I the undersigned. Commissioner of Insurance of Indiana, hereby certify that the above Is a correct copy of the statement of the condition of the above mentioned company on the 31st day of December 1921, as shown by the original statement, and that the said original statement Is now on file In this office. In testimony whereof, I hereunto subscribe my name and affix my (SEAL.) official s'eal. this Ist day of April. 1922. T. S. MeMURRAY, JR., Commissioner.

Statement of Condition OF TUB Standard Fire Insurance Company TRENTON, N. J. 15 West State et, ON THE 31st Day of December, 1921 OWEN J. PRIOR, President WM. ML CROZE R, Secretary, Amount of capital paid up....$ 200,000.00 NET ASSETS OF COMPANY. Cash In* banls3 (on interest and not on interest) $ 106,704.33 Real estate uaiucumbered.... 40,090.00 Bonds and stocks owned (market value) 941,372.00 Moil gage loans on real estate (free from any prior Incumbrance) 852,950.00 Accrued securities (Interest and rents, etc.) 14,550.44 Cash in office 2,388.37 Premiums and accounts dua and In process of collection 129.017.51 Salvage and reinsurance 1,287.81 Total net assets ......$1,618,270.76 . LIABILITIES. Reserve or amount necessary to reinsure outstanding risks $ 653.539.38 Losses unadjusted and in suspense 77.437.05 Bills and accounts unpaid.... 1,500.00 Other liabilities of tho company 17,600.00 Total liabilities $ 780.376.43 Capital 200,000.00 Surplus 637.594.33 Total ....$1,618,270.76 Greatest amount in any one risk $ 100,000.00 State of Indiana, Office of Commissioner of insurance. I, the undersigned, commissioner of insurance of Indiana, hereby certify that tbe above is a correct copy of the statement of the condition of the above mentioned company on the 31st day of December, 1921, as shown by the original statement, and that the said original statement Is now in file in this office. In testimony whereof. I hereunto subscribe my name and affix my (SEALJ official seal this Ist day of April, 1922. T. S. McMCRRAY, JR.. Commissioner,

MAY 4, 1922.

i Independent of this, the statistical position of cotton justifies a higher level of values and we would therefore continue the policy of buying on every reaction. LIVERPOOL, May 4.—There was a good demand for spot cotton today. Business was moderate with prices firm and sales around 10,000 bales. American middlings, fair, 12.53d: good middlings, 11.45d : fully middlings, ll.lSd; middlings, 11.03d; low, 10.55d; good ordinary, 9.68d : ordinary, 9.lSd. Futures were steady. AXOLOTL IN A FIX. LONDON, May 4.—The axolotl, a Mexl-. ran tadpole creature confined in the zoo,( swallowed three pebbles. Now he can't float in the water. LOVERS’ LANE TRAGEDY. TORQUAY, England, May 4.—A jealous woman is being sought as slayer of Thomas Watson and Miss Mildred I'orrest, found mureder In Lovers’ Lane. Woodworking Plant For Sale, Detroit 100,000 sq. ft. equipped with modern machinery, electrically driven, suitable for both body and trim work: railroad siding; ample lumber storage, with new National dry kilns; assembly rooms; splendid layout for body production. Apply Lester P. Dodd 1004 Dime Bank Bldg;., I>etroit, Mi chi gran.

Statement of Condition OF THE American Surety 1 Company of New York NEW YORK. 100 Broadway. ON THE 31st Day of December, 1921 F. W. LAFREXTZ, President. CHAS. W. GOETCHIUS, Secy.-Treas. Amount of capital paid up $5,000,000.06 NET ASSETS OF COMPANY. Cash in banka (on interest and not on Interest) $ 448,234.37 Real estate unincumbered... 8,230,535.61 Bonds and stocks owned (market value) 4,912.669.44 Accrued securities (interest and rents, etc.) 128.958. M Premiums and accounts due and in process of collection 1,142,712.34 Reinsurance recoverable .... 39.575.53 Excise reinsuring fund 2,258.53 Total net assets $14,904,975.03 LIABILITIES. Reeerve or amount necessary to reinsure outstanding risks $ 4,828.288.34 Losses due and unpaid...... 463,209.52 Losses unadjusted and In _ pense 2.117.534. M Bills and accounts unpaid.... Other liabilities of the company ...................... 247,327.13 Total llabilltie $ 8.161,763.23 Capiial 6,000 000.00 Surplus 1.743,211.82 Total $14,904,975.05 Greatest amount in any one risk $ 657,500.00 State of Indiana. Office of Commissioner of Insurance. I, the undersigned, commissioner of insurance of Indiana, hereby certify that the above is a correct copy of the statement of the condition of the above mentioned company on the 31st day of December, 192 L as shown by the original statement, and that the said original statement is now on file In this office. In testimony whereof, I hereunto subscribe my name and affix my [SEAL] official seal, this Ist day of April, 1922. T. S. MeMURRAY, JR. Commissioner.

Statement of Condition OF THB New Jersey Fidelity and Plate Glass Insurance Cos. KEVAKK, N. J, 271 Market st ON THE 31st Day of December, 1921 SAMUEL C. HOAGLAND, President. HARRY C. HEDDEN, Secretary. Amount of capital paid up $ 500,000.00 NET ASSETS OF COMPANY. Cash in banks (on Interest and not on Interest) $ leyixiw Bonds and stocks owned (market value) 1,304,752.00 Mortgage loans on real estate (free from any prior Incumbrance) 752.200.06 Accrued securities (interest and rents, etc.) 51.278.4 ff Premiums and accounts due and in process of collection 392,588.68 Total net assets .$2,604,4*4.13 LIABILITIES. Reserve or amount necessary to reinsure outstanding risks $1,02v 45©.** Losses due and unpaid 3,BSTji Losses unadjusted and in suspense 472,012 i* Bills and accounts unpaid.... 5,009. *0 Other liabilities of the company 198,342.16 Total liabilities $1,706,242 80 Capital 500,000 DO Surplus 398,191.33 Total $2,604,434.13 Greatest amount In any one risk $ 50,000.^ State of Indiana, Office of Commissioner of Insurance. I, tbe undersigned, commissioner of insurance of Indiana, hereby certify that the above is a correct copy of the" statement of the condition of the above mentioned company on the 31st day of December, 1921, as shown by the original statement, and that the said original statement is now in file In this office. In testimony whereof, I hereunto subscribe my name and affix my [SEALJ official seal this Ist day of April, 1922. T. S. AIcAIURRAY, JR., _____ Commissioner. .