Indianapolis Times, Volume 34, Number 310, Indianapolis, Marion County, 9 May 1922 — Page 12

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UNCERTAINTY AT OPENING OF STOCK LIST Scattered Liquidation Here and There Causes General Depression. VOLUME OF TRADES OFF By MONITOR. NEW YORK, May 9.—lrregularity and uncertainty marked the performance of the market at the opening of the week, and scattered liquidation here and there caused general recession, wbfle several cases of exceptional weakness led to the conclusion that certain issues bad been over-bulled in the enthusiasm of recent sessions. The volume of trading fell off considerably, some calculations placing the total at barely a million shares. The general undertone indicated a somewhat stale situation from a speculative standpoint, and while there is no disposition to look for a drastic decline, there would b< great surprise if the market should run through a period of backing and tilling before any broad upward movement is resumed. In spite of official assurances to tbe effect that the allied entente continues on a basis of cordiality, it must be con fessed that developments at Genoa have produced disappointment for the market optimists. Nevertheless, it is felt that those who have the real interest and upbuilding o * Europe at heart will not relinquish their efforts until they have i obtained a greater measure of success. Domestic news at the beginning of the week is more encouraging. Industrial conditions are improving, and New England advices speak hopefully of the outlook for an early settlement of the textile strike. The Washington statement regarding Governmental fiscal economies is more encouraging than had been expected. Reactions were quite general throughout the list, and much of the selling in the oils appeared to be in the nature of profit taking. Associated Oil was off five points, Barnesdall “A" broke 6%. and declines of one or more points took place In General Asphalt, Mexican Petroleum, Royal Dutch. Sinclair and Texas Company. The equipments were under more or less pressure, particularly I Baldwin, Motors and specialties also reacted. About the only group display- ] lng strength was the steels and even here ! the early gains were not maintained. ; Rails moved within narrow limits, but i with the exception of New Haven, no ; particular strength was displayed. Z= -| WALL STREET GOSSIP | By MONITOR. NEW YORK, May 9.—While the steel merger still furnishes a choice basis for j gossip, it is believed that the plan of the companies concerned has not reduced a point where it is possible to figure accurately upon the price at which companies will be taken in. One report In circulation yesterday had the following estimates: 75 for Republic; from 70 te 75 for International: 65 for Lackawanna; 75 for Youngstown Sheet A Tube; 40 for Midvale, and 20 for Briar Hill. Bankers who are In close touch with the ; merger operations confirm the general ' impression that these estimates were ' premature. Further details of tbe purehrse of Lake j Erie ic Western majority stock from the i New York Central by the Western Com- i psny, of which O. P. Van Sweringen of | Cleveland is president, has now been made * public. The Weetern Comrany paid $35 ; per share for the preferred, of which f5.65 was cash, the balance to be paid I over a four-year period, and $15.75 for tbe common, of which $2.60 was cash, and balance on the eama terms. Furthermore, the Western Company agrees to purchase the outstanding balance of preferred and common at the same price snd terms. Stockholders must deposit their etock net later than June 1 In order tq take advantage es thia offer. At the cloae. Lake Erie common was selling at 17%, but the preferred was % of a point below tbe recent selling price.

Affair* in the Burn* Company are still decidedly uncertain. Following reports circulated last wet>y that now interests had secured control of the company, M. F. Burns tendered his resignation as president, while L. F. Burns resigned as vice president The new controlling interest promptly announced through the papers that they would refuse to accept these resignations, btu according to a statement Issued by the present officer-, they are to stand if it develops at tn > coming meeting that control has actually passed. General American Tank Car was one of the active leaders in the early trading and touched 67%. anew high. This issue is being favored on the general theory that continued Improvement in the oil industry will mak for increased demand for tank cars, while at the same time the company is in an excellent position to benefit from equipment orders. Tank Car was selling around 60 last week, when this new buying started, and the interests which are making the market are still confident that par may be reached. Vanadium Steel, which crossed 46 into new high ground for the year rqsterday, was carried forward by the stimulus of recent very favorable reports. According to gossip in the street, this company did more business In the first week of May than It had for any entire month In more than a year, although every mopth for the last half year has been better than Its predecessors, and April was the greatest single month since 1920. Missouri Pacific showed net earnings In 1921 of 53.537.016, which is eqt*al to 54.92 per share on the $71,800,000 outstanding preferred stock. This comparing with $3,033,075, or $4.22 per share In 1920. International Cement earnings in 1921 equaled $4.55 per share on the common stock after preferred dividends. This compared with earnings of $6.63 per share on the comomn In 1920. Although International Cement Is holding well around 38, the market movement Is sluggish, and It Is reported that one large house, which has been very bullish on the stock, turned seller. The March gross of Kansas City Southern amounted to $1,778,859, as compared with $1,810,293 for the same month a year ago. Net for the month was $306,926 as compared with *367,858. The three months gross was $4,788,616 for 1922, as compared with $5,605,643 laat year. Net for the three months amounted to $853,283, as compared with $1,172,049. According to an official announcement Issued by the Standard Oil Company, the recent trip to Mexico bv leading oil men has productive of its main object. The primary purpose of the committee's visit to Mexico City to secure a working agreement on Mexican Oil taxes and it Is stated that this has been accomplished. It was also stated that the Mexican government has been convinced that total taxes on crude petroleum and Its products should bear a definite relation to selling prices. For production taxes and a basis of valuation. New York bunker fuel oil price will be used as a criterion, and provision has been made for an increase in rate in case of an advance in selling prices. There has been no change, as yet. in the present arrangement on export taxes.—Copyright, 1922, by Public Ledger Company. INDIANAPOLIS PRODUCE. Eggs—Freah, 22023 c. Butter—Packing stock. 15c. Poultry—Fowls. 18023 c ; broilers. 1%02-lb size, 45c: leghorn broilers at discount; cocks, 14c; stags, 14c: young hen turks. 8 lbs and up. 32c; old tom turks. 25c: cull thin turkeys not wanted: ducks. 4 lbs and up.16*317c; geese, 10 lbs and up. 14c: squaba, 11 lbs to dozen, $5.50@6; old guineas, per dosen, $3 Butter —Local dealers are paying 35@ 3Se per lb for butter delivered in Indianapolis Butterfat —Local dealers are paying 35c per lb for butterfat delivered la IndlauMoUa.

IV. T. Stock Exchange (By Thomson A McKinnon.) —May 9 Frev. High. Low. Close. Close. Ad.-R. com. ... 17 17 17 Ajux Rubber .. 17% 16% 16% Allied Chetn. .. 00% C?% 00% 60% AllU-Chalmers . 46% 46% 45% 46% Am. Beet H. .. 86% 38V* 36% 88% Am. Bosch M. .47 40% 40% 47% Am. Can 47% 47 47% 48 Am. Car A F, .161 100% 100% 161% American Ice ..103 102% 104 104% Am. H. Jfc L pfd 07% 60% 06% 08 Am. Inter. Corp. 41% 41 41 41% Am. Locomotive 114% 111 114% 115 Am. Steel V, .39 38 38% 39% Am. S. & It ~ 58% 57% 57% 58% Am. Sugar Kef. 74 73% 74 71 Am. S. T. Cos. . 35% 31% 31% 31% Am. Tel A Tel 134% 142% M 2% 143% Am. Woolen ~ 92% 01% 92% 92% Anaconda ...... 53% 51% 51% 53% Atchison 100% 99% 99% 100 At. Coast Line 101% 101% 101% 102% At. G. A W. 1.. 36% 35% 36 36% Austin Nichols.. 26% 25% 25% 26% Baldwin L0c0...116 111% 116 113% It. A O, 47 46% 46% 46% Beth. Steel (B), 78% 77% 76 78% Brook. It. Trans. 25% 24% 25% 25 Cal. Pete.,..,... 50% 55% 50% 50% Can. Pac, 8y..141% 111 141 141*5 Central Leather 37% 37% 30% 37% Chandler Motor 73? J 72% 73% 73% C. A J 65% 04% 65 65 CM A St. P com 20% 25% 20% 26% CM A St. P pfd 43 42% 42% 43% Chi. A North... 74% 74% 74% 75 CR 1 A Pac,,., 43% 43% 43% 43% Clt I A P6pctp-81 81 81 81% CRI A P 7pct p 95% 05% 93% 95% Chili Copper ~ 20% 19% 19% 19% Comp. A Tab., 72% 60 70% 72% duett A P.,,,.. 55 65 55 57 Chino Copper .. 28% 27% 27% 28% Columbia Gas.. 69 87% 67% 88% Coca Cola 58% 55% 57% 55% Col. Fuel Iron.. 33% 32% 32% 34 Cons. Gas .... 119% 117% 118% 119 Con. Can 66 05 66 07% Corn Prod. ... 101% 99 100% 101% Crucible Steel .. 08% 07 68 07% Cuban Am. Hug. 21% 21 21% 21% Cuban Cane Bug. 15% 15% 15% 15% Del. A Lack. ... 117% 115% 117 .... Dome Mines 27% I Erie 13% 13% 13% 13% j Elec, Sto. Bat... 172% 170 172 ! Endloott and J.. 83% 82% 82% 83% i Famous Players 81% 70% SO% 81% : Fisk Rub 18% 18% 18% 18% Gen. Asphalt... 02 61% 61% 61% Gen. Cigars..., 71% 71% 71% 72% Gen. Electric....l6o 163 166 103% Gou. Motors .... 12% 12% 12% 13 Goodrich 40% 40% 40V., 41 Gt North, pfd.. 75 74% 74% 75% Gt. Northern Ore 39% 38% 38% 39% Gulf 8. Steel... 84 81% S3 83% Hupp Motors... 18% 18% 18% 19 Houston Oil ... 60% 77% 78% 79 Illinois Central 105 104% 104% 10*% Indianaboina .. 4% 4% 4% .... Inspiration Cop. 41 4040 40% International N. 17% 17% 17V* 17% j Inter. Taper 51% 50 51 51% i Invincible Oil.. 18 17% 17% IK I Keystone Tire.. 23% 22% 23 23 Kelly-Sp. Tire.. 51% 50% 51 51% Kennocott Cop... 33% 33% 33% 33% Lacks. Steel 59% 59 59 59%! Lee Tire and R. 33% 33 33% Lima Loco 109 109 109 iu>%! Lehigh Valley. 62% 61% 61% 62% j L. A N 118% 118% 118% 119 | liOfws, Inc. ... 16% 16 16%’ 36% Martin Parry . 31% 30% 30% 31% 1 Marine Com. .. 23% 2-7% 23% 24 ! Marine pfd. ..82% P 2 82% 82% ; May Stores 118% 117 117 119 j Maryland Oil . 30% 30% 30% Sou : Mex. Petro 150% 12*% 150% 129% j Miami Copper.. 28% 28% 2KU l‘! j Middle States O. 14% 14% 14% 14% Midvale Steel .. 37% 36% 36% 37% ! Miss.-Fao. Ry. . 23% 23% 23% 23% ! Mont. A Ward. 22% 21% 21% 22 1 National Lead . 93% 92% 9-3% 9.3% X. Y. Air B. .. 77 76 76 79 X. Y. Central.. 90% 89% 89% 89% ! New Haven 30% 28% .30 29% Nor. A West I(*7 ' 107 ' 107 107% North. Pao 70% 75% 75% 76% Ok. P. A Rf. Cos. .3% 3.3% .3% Owen Rot. com. 36% 30% 20% :>,fi% Pacific Oily 05% 05% 05 65% Pan Am. Petrol. *23% 03 03 05% Penna. Ry 41% 41% 41% 41% People's Gas.... K 7 87 87 87% Fere Marquette 31 % 30% "<*% 51 % Pierce Arrow... 21% 21% 21% 21% Pro. A Reform.. 38% 37 37U 38 Pull. Pa!. Car.. 122% 121% 121% 12.3 Pure Oil 32% 55 55% 55% Ry. Steel 5pg..100% 99% 100 101 Reading 78% 76% 11 % 77% Rep. Ir. A Stl.. 65% 04% 04% 65% Replogle Steel.. 55% 31% 51% 33% Roy. D. of X. Y. 04% 03% 64% 02% Sears Roebuck 74% 75 i Sinclair 32% 30% 31% 52 1 S.-S. S. A 1.... 43% 43% 45% 44% I Southern Pac. . 91% 90% 91 91 i Southern Itv. . 24% 24% 24% 24% i St. L. AS. W R 29% 28% 29 29 St. L AS. W. R. 29% 28% 2ft 29% : Stand. Oil of C. 113% 111*4 115 112% 1 S. O. of N. J ~189% 190% 187 189 j St. L. AS.F. o. 39% 29% 29% 50% i Stewart A W... .39% 39% 3!*% .39%, Strom. Carb ... 54% 54 54 54% Studebaker 119% 118% 119% 11%; Texs* G. A 5... 4.3 4.3 43 42% i T. Coal A 0... 29% 25% 29*4 29% Texas Cos 48 46% 47% 48 Texas A Pac. .. .34 .33 .33% .31 Tob. Prod 67% *9l 07 07% Trans. Oil 12% 12% 12% 12% Union Oil 22% 22 22 22% Union Par ... 137% 137% 137% 1.37% I'nited Fruit .. 140 135*% 139% I*. S. Retail St.. 52% 52 52 % 52% ! r. S. Oast Iron .34% 3.3% 33% 33U I*. S. lud. Al'hnl 49 47% 4ft 48% I F. S. Rubber... 04% 63% 64 64% 1 F. S. Smelting.. 3ftU 39 .39 I'. S. Steel 98% 97% 97% 98 F. S. Steel pfd. 118% 118% 118% 118% T'tnh Copper..-. 60% 05 65% 65% Van. Steel 47% 54% 46 40% Wabash 11% 10% 10% 11% Wabash Ist pfd. 31% 31 31 31 % Worth. Pump. 52 52 52 55 West. Pacific... 22 21% 22 21% West. T'nlon.... 99 98% IdT* Weat. Airbrake.. 95% 95 95 .... West. Electric... 63 61% 62% 62 White Motors... 48 48 48 48 W-Overland .... 8 7% 8 8 White Oil 10% 10% 10% 10% Wls. Central 20.5 etuoin shrdlu nu Woolworth 160 100 160 .... Wilson A Cos 45 44 44 45% NEW YORK ÜBERTV BONDS. —May 9- I’rev. 1 High. Low. Close, close. Liberty. 3%s 99.40 99.32 99.36 99.40 Liberty, Ist 4s 99.60 Liberty, 2nd 4s 99 4.8 Liberty, Ist 4%s 99.94 99.74 09 90 99 82 Liberty, 2nd 4%s 09 64 09.54 99.60 99.52 Liberty, 3rd 4%s 984 99.78 99.84 99.8(1 Liberty, 4fh 4%s 09.90 99.78 99.92 99.90 Victory, 3%s 100.00 100.02 Victory, 4%s 100.58 100.54 100.58 100.56

CHICAGO STOCKS. (By Thomson & McKinnon) —May 9 Open. High. Low. Close. Am. Slipbuild... 72 Arm. & Cos. pfd. 969* 9694 96% 90% Arm. Leather... 12% Arm. Leath. new 8594 5094 SSV4 So 1 * C. C. & C. K. pf. 8% C. El. Ky. pfd. 10 10 S S Cudahy C 5 Com. Edi50n....130(4 130% 130(4 120% Continental Mot B*4 8% 8% 8% Dlam. Match.... 112% 113% 112% 113% Earl Motors 3% Libby McNeill.. 33 294 3 Mont. Ward.,.. 2194 2194 21% 21% Nat. Leath., new 9% 9% 9% 9% Pick & Cos 2794 Pigglv Wig. A. 61% 52 4794 49 Reo Slotor 24% Stewart Warner 39% 40 39% 40 Swift & Cos 101% 102 101% 101% Swift Inti 21 21 20% 20% Thomp. (J. R). 49% 50 59% 50 fnlon C, & C... 57 57% 50% 57% Wahl 00% 00% 65% 05% Wrlgley 103 103 102% 102% Yellow Taxi.... 75% 76 75% 75% NEW YORK HIDES. NEW YORK. May 9.—Trade In hides was rather quiet here today. Prices, however, were firm. Native steer hides were quoted at 14c and branded steer hides at 13c per pound. NEW TORK RICE. NEW YORK. May 9.—Rice was In better demand in trade on the exchange today, and prices were steady, domestic being quoted at 3%@7%c per lb. NEW YORK TURPENTINE. NEW YORK. May 9—Turpentine sold at 95c per gallon lc trade on the murket here today. NEW YORK PETROLEUM. NEW YORK, May 9.—Petroleum prices were firm In trade on the market here today. Pennsylvania maintaining Us longstanding price of $3.25 per barrel. STANDARD OIL OF INDIANA. • Open. 105%; high. 105%; low, 104; dose. 104(4.

STOCK MARKET TRADING LIGHT U. S. Steel Sustains Fair Gain —Crucible Also Up. NEW YORK, May 9.—The stock market closed steady today, with dealings on a small scale. Some of the railroad Issues were in demand, New Haven touching 30%, Pittsburgh A West Virginia 33%, and Reading 78. CruclMe Steel was in demand, advancing over 1 point to 68%, and Baldwin Locomotive recovered to 116. I'nited States Steel rallied from 97% to 95%. Mexican Petroleum was 2 points above the low at 130%. Corn Products recovered over 1 point to 100%. Go\eminent bonds were unchanged and railroad and other bonds steady. Total sales of stocks for the day were 997.8*10 shares. Total bond sales for the day were $17,625,000. (By Thomson & McKinnon) —May 9 The market news today was of the routine character, but mainly favorable. 'Money is in ample supply. The rate is reasonable. Busiues at the steel mil!', continues to expand. The price of copper is te-.ding upward. Leading motor and accessories companies are doing well. A leading banker's review of mid-West business conditions is favorable and confirms prevailing ideas on the subject. Its Europe conditions are unchanged and it is still a guess ns to whether or not anything will be accomplished at Genoa. The market here has become Irregular and begins to show signs of si rain. The market was fairly strong during the afternoon, but there Is no longer the enthusiasm and confidence that was so notable a feature during recent months. During reactionary periods, such as we had yesterday and tills morning, support will be forthcoming, which is only natural as there are still important concentrated holdings in the various groups of stocks. Our problem in the market is not one of fundamentals, but solely of technical conditions and until there has been correction in tliis respect it wil! be advisable to continue the policy of reducing commitments during the strong periods TWENTY STOCKS AVERAGE. NEW YORK. May 9.—Twenty industrial stocks Monday averaged 92.84, off .75 per cent. Twenty active rails averaged 84.30, off .35 per cent. CLEARING HOrRE STATEMENT. NEW YORK. May 9.—Exchanges. $976,500,000; balances, $60.3(81,000; Federal Reserve Bank credit balances, $41,100,000. Money and Exchange Indianapolis bank clearings Tuesday were $3,0,>0,00); bank debits, $5,649,000. NEW YORK, May 9.—The foreign exchange market opened firm today, with demand Sterling %e higher at >4.44%, Francs rose 8% centimes to 9.90%s for cables and to 9.09 c for checks. I,ires were 8% points higher at 5.30 e for cables and 5.29%c for checks. Belgian francs were up 4% centimes to 8.25%c for cables and to 8 2oc fur checks. Marks advanced 1% point* to 0n34%c. Guilder cables were 38.45 c; checks. 38.40 c. Sweden kronen cables were 20.89 c; checks, 25.75 c . Norway kronen cables were 18.78 c. checks. 18 73c; Denmark kronen cables were 21.25 c; checks. 21.20 c. NEW YOR| CALL MONEY. NEW YORK. May Money -Fallmoney ruled 4 per rent ; high. 4 per cent : low. 4 per cent. Time rates, 4% per cent. Prime mercantile paper was steady. Sterling Exchange was quiet, with business in bankers' bills at $4 (3% fur do maud. MOTOR SECURITIES. (By Thomson A- .McKinnon) —May 9 —Closing— Bid. Ask. Earl Motors 3% 3% Packard com 12% 12% I'Rckard pfd 8- 86 Peerless 31) 41 1 Continental Motors com 8% 8% Contient-I Motors pfd 89 92 llupp com 18 18% i Hupii pfd 9S I**2 j Reo Motor Car 24% 25 1 Elgin Motors 2% J 1 Grant Motors 1 1% Ford of Canada 385 400 | Nattonnl Motors 2 2% Federal Tru'k 22 24 Faige Motors 20 22 Republic Truck 8 8%

ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —May 9 - Bid. Ask. Anglo Am Oil 20% 21% Atlantic 10 Vi 11% Horne Scrymser 360 380 Buckeye Pipe Line 98 100 Phesebrough Mfg. Cons Hal 200 font. OH. Col 147 150 Cosden Oil <S tins 5 6 Crescent Pipe Line 33 35 Cumberland Pipe Line 140 150 Eik Basin Pete 8% K% Eureka Pipe Line 101 104 Galena-Signal Oil, pfd 100 105 Galena-Signal Oil, pfd 00 63 Illinois Pipe Line 195 200 Indiana Pipe Line 99 102 Merritt OH 14% 14% Midwest OH 2% 3 Midwest Rfg 200 National Transit 30 31% New York Transit 174 178 Northern Pipe Line 30 31 % New York Transit 174 178 Northern Pipe Line 105 109 Ohio Oil 328 332 Penn-Mex 27 32 Prairie Oil and (ins 610 620 Prairie Pipe Line 230 235 Rapulpa Refg 3% 4 Solar Refining 360 380 Southern Pipe Line 101 104 South Penn OH 225 230 S W I’enn Pipe Lines 62 65 Standard Oil Cos. of Ind 105 105% Standard Oil Cos. of Kns 570 sjo Standard Oil Cos. of Ky 82% 83 Standard Oil Cos. of Neb 190 205 Standard Oil Cos. of N Y.... 405 415 Standard Oil Cos. of 0hi0....460 480 Swan & Finch 80 40 Vacuum Oil 430 440 Washington Oil 20 30 NEW YORK CURB MARKET. (By Thomson & McKinnon.) —May 9. —ClosingBid Ask Acme Packing 48 52 Curtis Aero, com 59* 0 Curtis Aero, pfd 24 26 Boston & Montana 18 20 Boston & Montana Corp 82 85 Goldfield Con 7 9 Jumbo Extension 3 5 International Pet 22% 22% Kirby Oil 11 11% Nlplsslnp 5% C% Standard Motors 4% 5 Salt Creek 18% 1.8% Tonopah Extension 1% 1% Tonopah Mining 1% 1% United P S new 6% 7 T T . S. Light and Heat 1% 1% E. S. Light and Heat pfd 1% 1% Wrlght-MarMn 2 5 Yukon Gold Mine Cos 1 1% Jerome 394 3% New Cornelia 17% 18% United Vorile 28 29 Sequoyah 3 12 Omar Oil 2 5-16 2% Rep. Tire 65 70 NEW YORK SUGARS. NEW YORK. May 9.—Raw sugars were quiet and steady in trade on the exchange today. Cuba* were quoted at 3.98 c per pound, dutv paid, and Porto Ricos at 3.865* per pound, duty free, delivered. Refined sugars were steady, fine granulated selling at [email protected] and No. 1 soft at [email protected] per pound. NEW YORK COFFEE. NEW YORK, May 9. —Coffee values were easier In trade on the exchange here today', opening options being 5 to 9 points lower. Rio No. 7 on spot sold at 10%@11%c per pound. NEW YORK WOOL. NEW YORK, May 9.—W00l prices were strong on the market today. Domestic fleece. XX Ohio, was quoted at 35@49c per pound; domes.ic pulled, scoured basis, at 50c@$l, and Texas Domestic, scoured basis, at 60c@$l.i5.

INDIANA DAILY TIMES.

Weather The following table shows tbs state of the weather at 7 a. m.. May 9, as observed by U. S. Weather Bureaus: Station. Bar. Temp. Weather. Indianapolis, Ind... 80AM 66 Cloudy Atlanta, Ga 30.14 70 Clear Amorillo, Texas 2P.02 58 Clear Bismarck, N. D.... 29.40 54 Cloudy Boston, Mass 30.10 58 FtCldy Chicago, 111 29.98 68 Clear Cincinnati, 0hi0.... 30.14 64 FtCldy Clevsiand 0hi0... 30.20 56 FtCldy Denver, Colo 29.40 48 Clear Dodge City, Kan 29.54 64 Clear Helena, Mont 29.60 36 Cloudy Jacksonville, Fla... 30.14 76 Clear Kansas City. M 0.... 29.74 68 Cloudy Louisville, Ky 30.10 68 Clear Little Rock. Ark... 29.94 70 Cloudy Los Angeles, Ca.l.. 29.84 50 llain Mobile, Aiu 30.06 70 FtCldy New Orleans, La... 30.02 76 FtCldy New York, N. Y... 30.22 58 FtCldy Norfolk, Va 30.26 64 FtCldy Oklahoma City .... 29.76 66 Cloudy Omaha, Neb 29.64 66 Cloudy Philadelphia. Pa 30.28 60 Cloudy Pittsl urgh, Pi 30.24 58 Cloudy Portland, Ore 29.84 40 Cloudy Rapid City, S. D... 20.50 46 Clear Roseburg, Ore 29.82 34 Cloudy San Antonio, Texas 29.80 74 Cloudy San Francisco, Cal. 29.78 46 Clear St. Louis, Mo 29.94 70 Cloudy St. Paul, Minn 29.68 64 Cloudy Tampa, Fla 30.08 74 Clear Washington, D. C.. 30.30 60 Cloudy WEATHER CONDITIONS. The western depression trough has moved slowly eastward to the northern plains and southern Rocky Mountain region. Widespread showery weather has occurred in connection with the disturbance In the far west and In the northern tiers of States eastward to the Lakes region, while some rains have fallen in the west Gulf district. Temperatures are higher In the Mississippi and Ohio River States In front of the disturbance, but have fallen still farther beyond the western divide, and frosts and freezing temperature* were reported last night in the western highlands section as far south as southern Nevada and southwestern Utah. CORN AND WHEAT BCLLETIN. For the twenty-four hours ending at 7 a. m., Tuesday. May 9, 1922: Temper | ature. ( 0 - o a e Stations of- _■ Indianapolis „m •‘‘{"mV District. S~ g -J Is if" 8§“ South Bead ... .1 73 158 | 0 Good Angola 173 j 51 j 0.21 Good Ft. Wayne 172 54 j 0.12 Wheatfieid j7li 59 j 0 Good Royal Center .72 j 56 i 0 Good Marion 174 j 58 j 0 Good Lafayette | 73 , 62 0 Good Farmland j 75; 58 i 0 Good Indianapolis | 75 ! 62 0 Good Cambridge City.! 74 sft I 0 Good Terre Haute ....; 78 : 66 0 Bloomington 79 58 j 0 Good Columbus jBOI 65 j 0 Good Vincennes 84 0(1 1 0 Good I’aoll i 78 ! 66 0 Good Evansville 82 1 Oh i 0 j " Tu aITm i xgtonT - Meteorologist. Weather Bureau.

Local Stock Exchange —May 9 STOCKS. Bid. Aik. Ind Ry. A Light com 57 Ind. Ry. A Light pfd 78 Indpls. St. Ky 43 Ituipls. N. \v. pfd 60 Indpls. A S. F.. pfd 60 T. H . T. A I. pfd 70 T. IL, 1. A E. com 6 T. H , I A E. pfd 15 b. T. of Ind. com 1 L. T. of Ind. Ist pfd 4% 0% U. T. of Ind, 2d pfd 2 Advance Riimeiy Go. pfd Advance-Kumely com. . Am Central Life 200 Am. Creoaoting pfd 94 ... Belt It. ii. pfd 50 ... Belt, R, R com 60% ... Century Bldg. Cos. pfd 93% ... Citizens lias Cos 20 ... City Service com ... • 'Ey Service Cos. pfd . . Dodge Mfg. Cos. pfd Bft . ... Home Brewing 47 ... ind. Hotel coin 86 ... Ind. Hotel Cos. pfd 98% ... Ind. Nat. Life Ins. Cos 2 Ind. Title Guarantee ... 71 Ind Pipe Line 98 ... Indpls. Abattoir pfd 4ft Indpls. Gas 44 Indpls. Tel. pfd 90 Indpls. Tel. com 2 ... Mer Fub. Util. pfd 48 Natl. Motor Car Cos 3 Fub. Savings ins Cos 5% ... Kauh Fer. pfd 47 ... Stand. *MI of Indiana 106 ... Sterling Fire lu*. Cos 7% ... Van t'amp Hdw. pfd 90 Van t'amp Prod. Ist pfd 97 100 Van ( 'amp Prod. 2d pfd Vandaiia Coal Cos. com. ...... 1 Vamlulla Coal Cos. pfd 7% ... Wabash Ky. pfd 31 Wabash Ky. com ... BONDS. Broad Ripple 5s 50 ... Citizens St lty. fta 78 Indian Creek Coni A Mine 6s . .. 100 ind. Coke A Gas 5s 88 Indpls. C. A S. 5s 91% ... Indpls. A Martinsville 55.... 55 Indpls. A North. 5s 39% 44% Indpls. Stret Ry. 4s 58% 62 Indpls. A N. W. ft* 50 sft Indpls. A S. E. 5s 45 Indpls. Sbelb. A S. E. 5s 75 T. H, 1. A E. 5s 57 Indpls. Gas 5s 85 90 Citizens Gas 84% 89% Kokomo, M. A W. 5s 80% 01% Ind. Hotel Cos. 6s 98 ... Indpls. Water 5s 95 Indpls. Water 4%s 81 85 Indpls. T. A T 78 Indpls. L. & 11. 5s 89% 04% U. T. of Ind. 6s 51 ... Mer. H. A L. 5s 09 New Tel. L. 1) 5s 96% ... New Tel. Ist 6s 06% ..* South. Ind. Power Ss 66% 91%

Local Curb Market (By Newton Todd.) —May 9 Bid. Ask. Am. Hominy Cos 10 16 Coutral anil Coast Oil 94 ... Choate OH Corp % 94 Commonwealth Fin. com. ... 28 38 Commonwealth Fin. pfd. ... 48 58 Columbian Fire Ins. Cos 6 7% Dayton Rubber Units 43 53 Dctograph Prod, pfd 28 38 D. W. Griffith 3% 6% Elgin Motor Car 2 3% Fed. Fn. Cos. pfd 78 88 Fed. Fn. Cos. com 122 132 Gt. Sou. Proil. & Ref 0% 9 Interstate Pub. Serv. pfd. ... 81 91 Metro, 5-10 c Store com 3% 7 Metro. 5-10 e Stores pfd 18 27 Nat. Underwriting 2% 6 i nuoh & Lang Units 21 31 Robbins Body Units 14 24 Rub. Tex. Units 10% 16 U. S. Auto Units 30 40 U. S. Mtg. Cos. Units 105 125 BANK STOCKS. Commercial Nat. Bank .... 74 03 Cent Nat. Bank 104 114 Ind. Trust Cos 176 Ind Nat Bank 253 265 Mer. Nat. Bank 28? Nat’l City Bank 71 81 Security Trust Cos 131 140 State Sav. & Trust 94 98 Union Trust Cos 300 Wash. Bank & Trust Cos. .. 150 CHICAGO PRODUCE. CHICAGO, May 9.—Butter —Receipts, 15,000 tulis; creamery extras, 35c; standards, 34%c; firsts, 31@34c; packing stock. 16(318c. Eggs—Receipts. 36,000 cases; current receipts, 23%@24c; ordinary firsts, 2@22%c; firsts, 24%@ 249*c; checks, 20%@21e; dirties, 21%@ 22c. Cheese—Twins, new, 15@15->*c; daisies, 1394@10c; Young Americas, 16%e longhorns. 16c; bricks, 14%@15c. Live poultry—Turkeys, 25c; chickens, 24c; springers, 38045 c; roosters, 15c; geese, 18c ;dueks, 25c. CLEVELAND PRODUCE. CLEVELAND, May B—Butter—Ex'ras. 41@41%c; prints, 42@42%0; firsts. 40@ 40%e; packing stock, lfl@lßc. Eggs— Fresh, 28c; Ohio firsts. 26%c; Western firsts. 25%c; cleo nut, 21022 c; high grade animal oils, 22@22%c; lower grades. 16 @l7e. Cheese—York State, 11%@25e. Poultry— fowls, 27@29e; roosters, 17018 c; broilers, 40050 c.

WHEAT STAGES LATE RECOVERY Corn Values Close Higher—- • Oats Show Declines. CHICAGO, May 9. —Wheat prices rallied as the Chicago Board of Trade today towards the close, after declining at the opening. Local commissioner interests bought an the decline. Corn also advanced after opening lower, and was firm at the close. There was little buying of oats and prices closed lower. Provision were higher. May wbeut opened up %c at $1.37% and closed up %c. July wheat was $1.24, off %c. and closed off %c; September wheat was off %c at $1.17%, and closed up %c. May corn opened at 61 %c, off %e, and closed off %c. July corn at 64%c, opened off %c, and closed off %c. September corn at 66%c, was unchanged, and closed off %c. May oats opened off %c at 36%c and closed off %c. July oats opened at 39%c. j off %c, and closed off %c. September 1 oats at 40%c were unchanged, and closed: off %c. (By Thomson A McKinnon). —May 9 Wheat—English markets are said to | be impressed by the movement of wheat to terminal markets and to tbe seaboard ! In North America. There is some grounds : for taking note of this condition In the face of the fact that the United States \ has exported 233,000,000 bushels in nine | months, whereas ail statisticians were n unit In believing that we could not spare I over 200.000.000 bushels. The continent ! was again named ay a buyer of Argon- I tine wheat on passage and fur shipment | and there was said to have been around 500.000 bushels iff Manitoba.* sold to go : abroad. Three of the leading domestic ; markets have spoken of more interest j displayed by millers and Inquiries coming from a broader territory. In these markets cash wheat has shown firmness, although not changing its position relative to the nearby deliveries. It Is expected that the Government report this afternoon vil! show somewhere around 570.000,000 bushels. It Is also commented upon that the condltiou of the crop has Improved materially since the compilation of the'report. Private authorities In the Southwest gather from their various reports a marked improvement In | promise of total yield. It' the milling j trade broadens, as now suggested, the ■ heretofore heavy situation lu cash wheat i will be relieved, but it Is questionable as ; to whether or not this condition will overcome the flattering crop news now being received. The market is not showing any decided tendency. Corn and Oats The general rains predicted over the West appeared only In tbe way of light showers, which were I more beneficial than would heavy rains j have been. There were reports of good | export business in corn from this mar- j ket, nevertheless, the spot market was ; heavy, industries being the best buyers. Cash interests were seen ns sellers of J July oats, with a moderate demand from | the Northwest. But, taken on the whole, the buying power in both coru and oats : was not important. Provisions —There has been renewed liquidation of May lard, although the volume was not large. Sentiment is friendly to this market, but general trade is so small as to discourage operations.

CHICAGO GRAIN T MILE. —May 9 j WHEAT— Open. High. Low Close. May 1.37% 1.39% 1.35% 137% July 124 1.23% 1.23% 1.23% Sept 1.17** 1.18% 1.17% M 7% I CORN— Mav 61% .61% .60% .00% July 64% .04% .03% .13% Sept 66% .00% .66 .06 OATS— Mav.... .36% .37% .30% .30% July 39% .39% .39% Sept 40% .41 .40% .40% PORK - •May 212 ft LARD—j Mav 1112 1142 1127 11.27 Julv 11.00 into 11.47 1147 ' S'Ud 11. k 2 11.90 11.72 11.79 , RIBS May... 12.52 12.55 12.52 12.52 July 11.65 11-72 11.65 11.72 •Sept 11.75 RYE- - Mu v 1 05% 106 1.05% 105% July 1.04V* 1.t>4% 1.03% 1 03% •Sept 9S •Nominal. CHICAGO CASH GRAIN. CHICAGO, May 9. Wheat No. 1 hard winter, $1.87% ®T.38%; No. 3 red, $131% fa 132 ; No. 2 hard winter, $1 37® 1 :<% , No. 3 mixed, $1.29%: No. 4 northern, spring, dark. $1.42. Corn--No. 4 mixed, flo%c; No. 2 white, 61%'<i62%e : No. 2 yd ; low, 62®02%e, No. 5 mixed. 30%c; No. 3 white, 6ifi?6f%c; No 3 yellow. f10%®2%0. No. 6 white. sK%(V(ft:*%o ; No. 4 yellow. (’<o (fttSOtje. Oats No. 1 white, 42'<* 43c; No. 2 white, 39%®1%N0. 3 white, 3s' 40c; No. 4 white, 36* jSi3B%c. TOLEDO SEED AND GRAIN. j TOLEDO May f* Clover seed Cash, sl3 75; October, $ll.OO. Alsike —Cash, I $11; August, $11.25; October, $11.20. Tntolhy —Cash, $3.10; May. $3 10; September. $3.55; October, $3 35. Wheat Cash $1.35%%!.39; May. $1.35%; July, $1.26%. Corn Cash, 87®650. Oats j Cash, 44040 c. Rye Cash, $1.06. Barley —Cash, 69c. PRIMARY MARKETS. (By Thomson A McKinnon) —May 9. — -RECEIPTS— Wheat Corn Oats St. Joseph .... 31,000 24,000 2,000 Chicago ......208.000 4.(2,000 321.000 . Minneapolis ...215.000 40,000 77,000 | Duluth 153,000 3t,000 20,000 1 St. Louis 43,000 98,000 06,000 Toledo 6,000 6,000 6,000 Detroit 4,000 4,000 li.ooo Kansas City ..220.000 40.000 9,000 Peoria 1.000 67,000 76,000 Omaha 70,000 90,000 36,000 Indianapolis ... 12,00 59,000 63,000 Totals 969.000 920.000 600,000 Year ago .. 707,000 837,000 493,000 —SHIPMENTS— Wheat Corn Oats fit. Poseph 14,000 41,000 Chicago 211,000 92,000 210,000 Minneapolis ... 82.000 30.(KM) 27.8,000 Dul’uth ... 432,000 174,000 11,000 St Louis 71.000 80,000 40,000 Toledo 22.000 11,000 11.000 Kansas City ..482,000 38,000 48,000 Peoria 4,000 31,000 52,000 Omaha ’ 02,000 105,000 22,000 Indianapolis 13,000 10,000 Total* 1,410.000 615,000 688.000 Year ago .. 609.000 352.000 511,000 —CLEARANCES— Wheat Corn Oats New York 198.000 121.000 Philadelphia 47,000 Baltimore 22,000 Totals . 267,000 121,000 Year ago .. 304,000 232,000 21,000

INDIANAPOLIS CASH GRAIN. —May 9—Bids for car lots of grain and hay at the call of tho Indianapolis Board of Trade wero: Wheat—Easier; No. 2 red, $1.4001.42. Corn —Easier: No. 3 white. 05@05%0; No. 4 white, 640 64%c: No. 3 yellow, 64 (Ii 64%c: No. 4 yellow, 03003 %o; No. 5 mixed, 63%@64%c; No. 4 mixed, 62 %@ 63e. Oats— Steady: No. 2 white, 42@42%c: No. 3 white. 41@41%e. Uav Steady; No. 1 timothy, $19@19.,'>0: No 2 timothy. $18.504(19; No. 1 light clover mixed, $18018.50; No. 1 clover, $19.50©20.50. —lnspections Corn No. 2 white, l car; No. 3 white. 9 cars- No. 4 while, 5 cars; No. 5 white, 4 ears’ No. 6 white, 1 car: No. 3 yellow, o ears’; No. 4 yellow, 3 cars; No. 5 yellow i'car; No. 6 yellow, 1 car; sample yellow. 2 cars.; No. 3 mixed, 1 car; No 6 mixed. 1 oar: total, 31 cars Oats—No. 2 w .Ite. 2 cars; No. 3 white, 4 cars; No. 4 white, 2 cars; sample white. 2 cars; No. 2 mixed, 1 car; total, 11 cars. Rye—No. 2. 1 car. Xiny—No. 2 timothy, 1 car. HAY MARKET. The following are the Indianapolis prices tor hay, oy the wagoD load, delivered in Indianapolis # Hay—Loose timothy, $17(218; mixed nay. $16017; baled hay $l7OlB. Oats —New, per bushel, 42045 c. Corn—Both old and new. per bushel, 60 <a.6sc. YVAGON WHEAT PRICES. Indianapolis flour mills and elevators yesterday were paying $1.30 per bushel for No. 1 red winter wheat; $1.28 for No. 2 red winter aud according to test for No. 3 red winter.

SWINE VALUES RULE STEADY Trading in Cattle Is Slow— Sheep Down. RANGE OF HOG PRICES. Good Good Good Mav Mixed. Heavy. Light. 2. $10.60(310.65 $10.50 @ 10.65 $10.60(310.86 3. 10.75fe10.80 10.60 M 10.75 10.804j10.90 4. 10.60(010.65 10.404j10.60 10.65(210.75 6. [email protected] [email protected] 10.*[email protected] 6. [email protected] 10.60 @ 10.70 [email protected] 5. 10.90 10.75 @ 10.90 [email protected] 4. [email protected] 10.75 @ 10.90 [email protected] With both the shipping and tbe packing demand good and only 5,500 bogs on the market, swine prices were steady to strong in trade on the local live stock exchange today. There was a top of sll on light swine, and the bulk of the sale* for the day ranged at $10.90@11. Some of the heavy hogs brought stronger prices, but were steady generally. Trading was of a very active nature, and a good clearance for the day was anticipated. Cattie prices were steady generally, but trading was rather slow. Receipts for the day ran close to 1,000, and the quality was fair to good. Packers made efforts to buy at lower figures during the first half-hour, but commission men held to steady prices and packers later bought at those figures. There were close to 500 calves on the market, and the quality was fair to good. Shippers displayed fair demands after the first few minutes of trading. There was a top of $9.50 on a few extra fine calves, but the practical top for the day was $9. The bulk of the good to choice veals brought SS.SO@9. Sheep Here lower and lambs about steady, with around 150 on the market and the quality rather poor. Ordinary ewes brought $5'55.50. There were no good ewes on the market. Bucks brought $3.50 and down. A few spring lambs of poor quality sold at [email protected]. There were no good wool lambs on 6ale.

HOGS. 100 to 180 lbs average $10.90(gll.00 Over 300 lbs 10 85® 10.75 150 lbs to 300 lbs 10.75*311.00 Best pigs, under 140 lbs [email protected] Top 11.00 Roughs 8.50® 9.25 Stags 6.25® 7.50 Bulk of sales 10.90®11.00 —Cattle— Frime corn-fed steers, 1,000 to lbs 7.00® 7.50 Good to choice steers, 1,200 to 1,300 lbs 7.00® 7.50 Good to choice steers, 1,100 to 1.200 lbs 6 25® 6.85 Good to choice steers, 1,000 to 1.100 lbs 5.60® 6.00 Common to medium steers , 800 to 1.800 ibs 5.25® 5.60 —Cows and Hei'ers— Good to choice heifers 7.85® 8.35 Medium heifer* .. 7 2ft® 7.85 Common to medium heifers.. 6 2ft® 700 Good to choice cows 6.25® 7.00 Fair to medium cows 4.50® 600 Canners 3 00® 3 75 Cutters 2.75® 3.50 —Bulls— Fancy butcher bulls 5 50® 6.25 1 Good to choice butcher bulls. 5 00® fI.QO 1 Bologna bulls 3.75® 4.501 Light bologna Bulls 3 25® 3.75; Light common bulls 3.00® 3.50! —Calves— Choice veals 8.50® POO Good veals B.oo® 850 Medium veal* 6.50® 7.50 Common to heavyweight veals 6 00® 6.50 Lightweight veals 6.00® 6.00 —Stoekers and Feeder* —- Good to choice steers under 8O1) lbs 6 00® 7 25 Medium cows 2.75® 4.00 Good cows 3.50® 4.50 Go< and heifers 6 00® 700 Medium to good heifers 4.50® 8.00 —Sheep and Lamb*— Cull ewes 2.50® 3.50 Good to choice ewes 5.00® 800 Bucks 2.50® 3 50 Clipped lambs 9.00® 10.00 Wool lambs 10.00®12.00 ! Springer* 12.00® lf>.oo Buck lambs 5.00® 6.00 Culls 3.00® 4.00

Other Livestock CHICAGO. May 9 —Hogs - Receipts, '21.000; market steady: hulk of sales. jflo 25(§10.70; top. $1093: heavies, $10,400 10.05: mediums, $1(1.50@ 10.90; lights $10.850 10.95; light lights, $10.00010.90; heavy packing sows, smooth, $0.00@10; packing B"wh. rough, $9 4009 75; pigs, $10.25010 63. Cattle—Receipts. 11.000; market firm: top steers. $9.25. Beef steers --Choice and prime. $8.750 9 25; medium and good. $7 7508 75; good and choice, $8.3509 25 : conation and medium. *7.250 s 35. Butcher cattle—Heifers. $5.9008.60; ! cows. si>.B,-07.50: bulls. $4 7508 75. Canj tiers and cutters—Cows and heifers, $3.75 04 85; canner steers, $4.7505.85: veal calves, light and handy weight, $6.50@ i5.75: feeder steers, $6 2507,85; Stocker steers, $00:7.75; storker cows and heifers, $4 250 0.25. Sheep and iambs—Receipts. 5,000: market steady to 25c higher: good to choice lambs, $11014.25; cull and com nun lambs. $8011.50; springers, $13,500 15 75; yearling wethers, $9012; ewes. $5 in 8.25; cull and common ewes not quoted; breeding ewes, 2@5. CINCINNATI, May o.—Hoga-Recclpts. 3.000; market steady; all grades good bogs, $11; pigs, $10.75; ropughs, $9; stags. $5.50. Cattle—Receipts, 200; mark't strong; bulls strong; calves, $8.50. Sheep and lambs—Receipts, 000; market weak to 50c@$t lower; ordinary ewes, $6.5007.50: clipped ewes. $5500650; choice lambs, $16.50; seconds, $10012; culls, SBOIO. SIOUX CITY. lown. May 9.—Hogs— Receipts 4,500: market, steady; packers weak; range, $9.25010.50; bulk, SIO,IOO 10.40. Cattle—Receipts, 3.500; market, steady; heavy grades weak : steers, s7@ 8.25; yearlings, $70'8.75; fed butchers, $1.750;5; yearling calves and stockers, $6 07.75: feeders. $607.25; feeding cows and heifers, $506. Sheep—Receipts, 000; market, strong. EAST ST. LOUIS, May o.—Hogs—Receipts, 17,000; market, 10c to 15c lower: mixed aud butchers, $10.70(3! 10.90; good heavies, $10.65010.,85; roughs, $109.25; lights, $10.75010.90; pigs, $10010.75; bulk of sales, $10.75010.90. Cattle—Receipts. 5.500; market, steady with the late advance of the previous day; native beef steers, $8.2509; yearling steers nnd heifers. $.8,500:9: cows, $707.60; stockers aud feeders, $69007.50; calves, $6,500 9: eanners and cutters, $404.75. Sheep and lambs—Receipts, 3,000; market, lower; mutton ewes. $7.5008.50; good to choice lambs, $12015; eanners anil choppers, $104; springers, [email protected]. EAST BUFFALO, May 9.—Hogs—Receipts. 2,000; market, slow; yorkers, $11.50011.65; pigs, $11.35011.50; mixed. sll 350.11.50: heavies, *[email protected]; roughs. $909.25; stags, $506. Cattle— Receipts, 200; market, siow sternly; shipping steers, $8.5009:- butcher grades, $7.5008.65; heifers, $5.5008.25; cows, $2 06.75; bulls, $405.75; feeders, ss@6; milk cows and springers, $450125. Calves —Receipts, 500; market, slow; cull to choice, S3OTO. Sheep and lnmlis—Receipts. 0<K); market, slow; choice lambs, $13.50015; cull to fair lambs, s6@l2; yearlings, $10011.50; sheep, S3OIO. PITTSBURGH. May (I—Hogs—Receipts, 1.200; market. 10 to 15 cents higher; prime heavies, $11: mediums. sll.4Q@ 11.50: heavy Yorkers, $11.45011.50; light Yorkers, $11.40011.50; pigs, $11.50 down; roughs, $8.5008.75; stags, $505.25; heavy mixed. $1011.35. -Cattle —Receipts, less than 50; market, about steady. Calves— Receipts, light; market, 50 cents lower: veals, $9.50; heavy and thin calves, s4@ 0 50. Sheep and Lambs—Receipts, 1,000; market, 50 cents lower; prime wethers, $8 5009; good mixed, s7.@B; fair mixed, $007; culls and commons, $1.5003; choice wool lambs, $13.50; springers, sl4 @l7.

WHOLESALE B’fEF PRICES. The following are today's wholesale prices for beef cuts as sold on the Indianapolis markets <“ Swift & Cos.: Ribs No. 2, ISc: No. 14c. Loins —No. 2, 24c- No 3.18 c. .ound—No. 2. 15c; No. 3.14 c. Chucks--No. 2,11 c; No. 3,9 c. Plates—No. 2. *%•; No. 3,6 c. BROKERAGE FIRM FAILS. NEW YOIC2, May 9.—Announcement of the fallur of the brokerage firm of Carpender. Cjffery & Cos., was made from the rostrum of the New York stock exchange sho-.tly after the opening today. The firm was admitted to the exchange on Feb. 15, 1919.

In the Cotton Market NEW YORK, May 9.—The cotton market opened firm today at an advance of 10 to 47 points, influenced by strength in Liverpool and heavy rains in Texas. Old longa were heavy sellres on ■ the rise, and the list reacted after the start. Dealings were large. New York opening cotton prices: May, 20.20 c; July. 19.80 c; September, 19.70 c; October, 19.80 c; December, 19.80 c; January, 19.55 c; March, 19.61 c. —Cotton Futures— Open. High. Low. Close. January 19.55 19.65 19.28 10.32 March 19.61 19.73 19.35 19.33 May 20.22 20.35 19.70 19.73 Jnly 19.80 19.00 19.29 19.33 October 19.80 19.80 19.40 19.43 December 19.80 19.83 19.10 19.41 —Cotton Review — NEW YORK, May 9.—Under the influence of the sharp advance in the Liverpool market and reports of continued unfavorable weather in the cotton belt, values here today were sharply higher on the opening, but these prices proved to be the best of the day notwithstanding the fact that continued gloomy reports were received from tbe Southwest. The price was tempting to the longs who were prompt to take profits and selling was sufficient in volume to supiffP'! the new demand for contracts and finally resulted in a rather easy market during the afternoon. Technically, the market is undoubtedly! in a weak position and any improvement; in weather would be followed by a sharp 1 setback, but fundamentally conditions favor continued high prices and therefore on any substantial setback would again favor the purchase of the new crop months. LIVERPOOL. May 9. —There was an ’ increased demand for spot cotton in trade on the market here today. Prices were steady and sales close to 12,000 bales. American middlings fair, 13.10d: good middlings, 12.05d; full middlings, ll.iftd ; | middlings, 11.60d; low, ll.lOd; good ordinary, 10.25d; ordinary, 9.75d. Futures were firm.

FAMED MEDIC WILL VISIT U. S. Winner of Nobel Prize Is Coming to America Next Fall. WASHINGTON, May 9.—Dr. August Krogh, of Copenhagen, Denmark, winner of the 1920, nobel prize in medicine, will visit the United States next fall, according to an official announcement just received from the Danish capital. The doctor will be accompanied by hia wife, Dr. Marie Krogh, also a noted scientist. The main purpose of Dr. Krogh’s visit is to accept invitations from Durqerous American universities and scientific in- j stltutlons to lecture before them, par- | tlcularly upon the subject of the ; capillary circulation, regarding which he ' is recognized throughout the world as a ! leading authority. Dr. August Krogh is professor of zoophysiology at the University of Copen- ; hagen and is a member of the Royal ; Danish Academy of Science. He was born in Denmark forty-eight years ago ' and as early as 1906 won the Austrian Seegen prize for his researches in connection with the respiratory exchange. His greatest achievement, and the one which brought him the Nobel award, was the discovery of the capillarimotory regulation mechanism. Since Harvey, 300 years ago, discovered the circulation of the blood and Malpighi, nearly fifty years later evolved his theory of capillary circulation, no greater contribution than Dr. Krogh's has been made to the important branch of physiology. Scientist* formerly believed that the first blood ‘vessels, the so-called capillaries. were Only passive tubes through which the blood passed as regulated by the arterioles, the smallest of the arteries. Through numberless experiments and investigations of the most exact and minute character, however. Dr. Krogh found that the capillaries have a very active function of their own. as th?ir cells contract or relax, according to the way they are affected. If a muscle is passive most of the capillaries remain closed contracted and can hardly he seen through a powerful microscope. Dr. Grogh discovered. As soon as the muscle is used or affected In any way, however, hundreds of thousands of the finest blood vessels open up, and the blood supply Is Increased so that the muscle In return can increase and continue its work. Besides being an important contribution to physiological theory, D.\ Krogh's discoveries are expected to prove of great practical value to physicians ard surgeons. His experiments are now being photographed in Denmark, and films of the more important demonstrations will be available for use in connection wltk his tour of the United States.

75,000 French Die From Own Guns PARIS, May 9.—“ Because of a false conception of offensive principles, by lack* of liaison between artillery and infantry and by the irrational use of heavy artillery 75,000 Frenchmen were killed in the war by their own artillery." This la the astounding revelation made by Gen. Etienne Percin, once commander of a French army corps, in his latest book ‘‘The Massacre of Our Infantry.” Referring to the cost of munitions in tho war and in order to give what he calls an example of the waste shown during battles General Percin remarks: “Asa result of waste of ammunition from August 2, 1914, to Nov. 11, 1918, we spent 26,000,000,000 francs In munitions or one-eeventh of our total war expenses.” BATIK BLOUSES. Batik blouses once belonged to art circles and to Greenwich Vlllago. Now they are as common as bobbed hair. Many manufacturers of silk are now making up silks In batik patterns, which cost considerably less than the hand-dyed product. ARMY TENANTS OUSTED. LONDON, May 9. —Ex-service men formerly allowed to occupy army buildings with their families, owing to lack of houses, have been notified to move at once.

PRICE OF A KISS. LONDON, May 9.—For kissing one of his girl pupils. George J. Jones, lecturer In London University College, was dismissed. He sued for reinstatement, but lost his case. TRIED TO KILL SULTAN. CONSTANTINOPLE, May 9.—lt is learned that a palace guard recently attempted to kill the Sultan of Turkey, but was shot dead by a loyal comrade. PERSIAN FIGURES. Many of the new gowns are made of silk, with an all-over Persian design. A favorite method of trlmming*them is to outline some of the larger figures with colored beads. . IRISH PEACE TRAGEDY. DUBLIN, May 9.—Because his wife urged him to leave the Republican army and accept the Free State Government, John McGuire shot her to death. SIX WEEKS FOR KISS. CHICAGO, May 9.—James H. Raine, aged 25, was sent to jail for six weeks for kissing a pretty girl traveling on the same train. BUDDING CHEF. LONDON, May 9—Lord Riddell says Jones, aged 12, won the diplomas of merit at the National Cooking Exhibition.

MAY 9,1922.

FIRST EMBASSY BUILDING OF U.S. INBRAZIL Ceremony When Ground la Broken for First Foreign' Mansion. RIO DE JANEIRO, Brazil, May The first American embassy building to be constructed abroad by tho United States is under way. Dr. Carlos Sampaio, prefect of tba federal district of Brazil; Edwin V. Morgan, the American ambassador, and Frank L. Packard, the architect, charged by President Harding to plan construction of the building, delivered the prin. cipal addresses and broke the ground for the structure. The prefect, speaking In English, stressed importance the new American building will have in-cementing existing friendships between the peoples and governments of the two largest republic* of the two continents. Dr. Sampaio declared he believed the fact that the United States will construct its first embassy in Brazil is probably the greatest expression of the cordial relations and ever-increasing friendship between his country and the United States. He was enthusiastic regarding the effect the action of the United States Government will have in strengthening these relations. Packard pointed out the sentiment sponsoring the action of the United States in making provisions for erection in the Brazilian capital of the building which is to serve as the American building during the world fair and exposition celebrating tbe 100th anniversary of Brazil's independence, and afterwards aa a permanent home for the United State! ambassador. SPEND $500,000,00| FOR VETERANS IN AUSTRALIA Help Given to 90,000 Troops Runs to High Figure. MELBOURNE, May 9.—The cost of repatriating the Aussles tapped the Australian Commonwealth Treasury to the extent of $561,150,000. according to aa announcement by Assistant Minister for Repatriation Lamond. Among the aids extended to the Australian ex-servicemen, numbering nearly 90,000 men, were the hospitalization of wounded and ill; the creation of service homes in each State for the care of soldiers’ families; loans or up to SIO,OOO to Individual members of the A. I. F. to build homes, the granting of land and the equipment of farms; pensions to Incapacitated fighters and their families; vocational training and transportation from various parts of the world back to Australia. Various Australian States had their Individual repatriation schemes, aside from cooperating with the Federal Government in the main undertakings. The premier of Queensland has just announced that some 3.000,000 acres of tbe most fertile land in the world has been made available for Australian ex-soldiers and those from the British Isles who wished to emigrate to the Commonwealth. A recent loan of slo.ooo.otX>,ooo floated the United States is to be used in lng this scheme, which includes ditures of several million dollars for the construction of railways, roads water-power plants.

Turkish Women Try to Reform Mere Man CONSTANTINOPLE, May 9 —Since they have had a touch and a sight of Paris and particularly of dances and dresses, Turkish women are making attempts to reform their male masters and are threatening to discard the traditional veil. Many have already done so, causing the chief of police to issue an edict proclaiming that women dancing in public "disguised as Europeans” are liable to prosecution. The younger generation of Turkish women have “dared” to introduce fox trots, shimmies and waltzes in the city, "shocking” their elders. Turkish women's clubs are creeping up everywhere, and tea dances, dinner dances and similar atnusemaats have been intro* dueed in all classes. XB cn*.ny homes veils have been done away xftth, and pretty Parisian evening dresses and walkingout costumes have replaced Turkish draperies. One club has hired rooms for dancing where only competent Europeans are allowed entry. This is considered a serious offense, and the population Is astir as to what will happen to the “guilty ones” when the chief of police carries out his threat to prosecute. Oldest Monastery Made Orphanagee TIFLIS, Armenia, May 9.—The oldejte monastery in the world, the Etchmiadzfl| Castle, near Erivan, was reopened cently, under the protection of the American flag, as an orphange of the Near East Relief. The ancient monastery Is historically one of the most Important in Armenia. It is the cradle of the Christian faith In Armenia, having been founded by the much-venerated St. Gregory, who introduced Christianity Into Armenia in the third century. The monastery covers several acres of ground and is surrounded by a massive wall, which has sustained many a siege nnd hag repelled frequent attacks by Kurds, Tartars, Persians and Saracens. At the outbreak of the World War, when thousands of Armenians fled from Turkey. the monastery gates were throws open to receive them, and here they remained safe for many months. One of the buildings of the monastery dates from the year 350. FESTOONS OF FLOWERS. A popular use for flowers, both on hats and gowns, is to hang them in festoons. Many of the summer hats have flowers falling from the brim and reaching to the shoulders. Many of the gowns have corsages at the waist, with foliage and ribbons falling down to the hem. They're delightfully suggestive of summer. PLATINUM GRAY. Whole outfits are being developed In platinum gray, Including a dress and cape of gray crepe, a platinum gray fox collar on the wrap, a gray silk turban and gray suede pumps.

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