Indianapolis Times, Volume 35, Number 9, Indianapolis, Marion County, 22 May 1922 — Page 10

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WORLD TRADING GOES ON WITH LARGE DEMAND Basic Commodities Sought With More Avidity by Traders. Special to Indiana Dally Times and Philadelphia Public Ledger. BY MONITOR. NEW YORK. May 22.—Stock market operations during the week were characterized by activity and strength, with a decided tendency toward increase in the volume of transactions. Sentiment in trading circles has lost much of the hesitation that has marked it recently, and is now actuated by confidence and a constructive spirit. Disappointment over the outcome at Genoa has not lasted long. It is admitted that little headway could be made at this time, owing to the disposition of the discordant factions to devote much of their time to political disputes instead of getting down to an economic basis. The conference is believed to have been aptly pictured by Frank A. Vanderllp when he described it as a clinical examination rather ;han an attempt to perform a surgical operation or administer therapeutic treatment. Verbosity evidently has interfered with action, but. nevertheless, the meeting has been fruitful in disclosing Europe’s most urgpnt needs, and it has provided opportunity for exchange of divergent viewpoints. WORLD TRADE GROWS RAPIDLY. The Genoa fiasco should not leave us Mind to the fact that in spite of Europe’s financial debility a great world trade is passing to and fro. and that it is growing Ii rger month by month. Statistics on exports and Imports cannot tell the story, for figures are things to be used comparatively, and commerce between nations is now in the early stages of revival. It is a revival that is gaining momentum in most Impressive fashion, however. In fact, one wonders where Europe gets the buying power. Her purchases of copper, cotton and foodstuffs are on a crescendo scale. Every country Is hare of raw materials, and it is in the buying of relatively minor commodities that we gain an idea of what is going on. The manufacturers of Europe are taking huge quantities of fibres, kapok, feathers, bristles, rubber, wool, coarse hair and other articles. The great markets of London, Antwerp, Hamburg. Barcelona and Get oa are stocking up, or at least attempt. ng to do so. The demand, it inay be confidently stated, is bigger than the available supply, and prices are rising. REVIVIFYING EFFECT ON EXPORTING NATIONS. These purchases are having revivifying efT-'et on the exporting coun ries such as South America. China and the South Sea j Islands. As they soli their raw’products, j they buy goods. Herein we find an ex- i planation of the heavy buying of cottoa I goods by China, India and South \mer- 1 1 ,- a. Evidently we are nearer prosperity i In world commerce than we ha o been ' led to believe, largely because A verioai J exporters have not been as active la ! overseas markets as some of their Et - : ropenn competitors who are busily et.- j gaged in accumulating raw materials. Domestic industry, however. Is gain- ! ing steadily. General in* ’reases wpre ' registered in April, with the notable ex- \ ceptlon of coal mining and textiles, where I strikes Interfered with production. New records were made in April building op- j erations. In the steel Industry prices i are rising and capacity is higher. One j of the most encouraging signs is the ! improvement in retail dstribution. This is the logical corollary of increased em- J ployment and larger buying power, to ! which must be added the element of ! rising confidence. The most striking ' flguies zrc- furnished by building con- j tracts for the twenty-seven northeastern : States which amounted to more than j $553,000,000 in April, thus breaking the j rrerious high record of July, 1919, when 1 the total was $317,000,000. MONEY SITUATION STILL FAVORABLE.

The money situation continues favorabte. This week's statement of the Federal reserve system shows a moderate pain to the basis of 7.6 per cent, which Is close to the years high point. The sharp pain in the ratio of the New York bank to the basis of Sfi.2 gives evidence of a heavy flow of funds to this center, which has been further reflected by an ease in rates. Bankers have tried to place a fair portion of the inflow on call, but the demand was lackinp and the time money market pained the benefit. The result has been a break In rates to new low levels. Thirty-day money has been quoted at 3 a 4 per cent. These are the lowest quotations since late in the summer of 1017. From a tradinp standpoint, the best informed sentiment seems to lean most strongly toward the raiis. coppers and steels. The strength In copper metal, which has been quoted this week as high as 13 s * for summer delivery for export. Is due chiefly to the large demand for the metal and the improved satistical position. Some time in the coming week, definite developments are expected in the form of decisions on railway rates and wages. There is a possibility, of course, that the railway labor board may not act on the wage question until later. With the respect to the steels, the air continues surcharged with merger rumors. thus keeping the market for the in dependent shares confused and erratic. The substantial progress In the Industry, however, has fortified the position of r. S. Steel in the minds of the farsighted trading element.—Copyright, 1922, by Public Ledger Company.

WALL STREET GOSSIP

BY MONITOR. NEW YORK, May 22.—The withdrawn! of the Youngstown Sheet and Tune Company from the “six-company” merger has affected sentiment in the marset, and the independent steels are about the only group which failed to shire in the surge of prices in Saturday’s short session. Bethlehem Steel “B” was comparatively firm and this is accepted as a reflection of the genera) expectation that withdrawal of Lackawanna anil Youngstown from the original “seven-company” merger plan would force anew merger plan ■which would use Bethlehem as a base. The United Sho? Machinery Corporation's report for the fiscal year ended Feb. 28. shows net earnings of $3,094,147. after payment of Federal taxes and preferred divider.Js. This is equal to $1.70 on the $25 per value common stock. Pure Oil Company and subsidiaries show gross earnings of $60,722,462 for the fiscal year ended March 31. The tier surplus income amounted to $4.'.66,7M Total surplus on March 31, i2l, was $52.1*1.757. which, with the net pre mium on the rale f capital stock amounting to $126,816. made a f> tal of $52,278,673. Inventory loss and depletion charges amounting to $4,516,879 reduced this surplus to $47,761,694. which, added to the net surplus income for the last fiscal year, makes a tote! surnlus of $.52,728.47*:. Dividend payments amounting to $6.3(3.995, including preferred and common dividends in cash, an*! common dividends paid in stock, left the compnnv with a surplus of $46,414,481 on March 31 1922. According to commission house gossip there is under way a movement of certain commission house customers to get out of Pacific Oil on the general theory that any change of control to wore powerful interests would prohahlv have 6a adverse effect on the dividend' policy of the company. Some of these trader's are switching into Kenneeott and other coppers. *4 l6v*ae* of 3 points or to te Aznsr. wa ckr A Founder developed ■ mr-

city of floating supply of the stock, and the Undertone la firm. While 1921 was a poor year for this company, as for most others, it is borne in mind that the fiscal year did not end until April 30, and therefore part of the good business encountered early this year will be included. It is believed that the sl2 common dividend will be earned, as a result of consistently good repair business and income from investments. Merger talk is again Into the railroads, and New Haven was well bought on circulation of reports that both Canadian Pacific and Pennsylvania were seeking control of the road. The reported merger of J. Kayser and the H. it. Mallinson Companies in the silk business was flatly denied by President Bayer of the Kayser Company. Mr. Bayer stated that not only were there no negotiations in progress, but that there will be no reasons for these two companies to consider such a plan.—Copyright, 1922, by Public Ledger Company.

N, Y. Stock Exchange

(By Thomson & McKinnon) —May 22 Prev. High. Low. Close close. I Ajax Rubber 17% 17%' 17!4 I<% Allied Chemical 69% 68 68% 08% i Ailis-Chalmers.. 50% 50 50% 50 | Am. Beet Sg 45 43% 44V* *4 ' Am. Bosch Mag. 46% 45% 4(5>.* .... Am. Can 49 V* 48 48 48 ; Am. Car & Fd. .102-a 162% 162% 102 j American Ice ..109% 107% 109 107 Am. H. <k L. pfd. 72 70% 70% Am. In. Corp.. 49% 45% 48% <B% Am. Loco 116 114% 114% 11'% Am. Steel Fd.. 38% 38% 88% 38% Ain. S. A Ref 65% 65 65V* 65V* Am. Sugar Ref. 76% 76 70 76% Am. S. Tob. Cos. 37% 35% 86% 35% Am. Tel. ,k Tel.. 123% 122% 123% 122% Aui. Tobacco ..141% 141 141% 142% Am. Woolen 03% 92% 92% 92% Anaconda 56 65 55% 55% Athcison 100% 100% 100% 100% Atl. Coast Line.l**3% 102% 102% At I. Guif & W.I. 89 37% 37% 37% Austen Nichols. 28% 28 28 . 27% i Baldwin L0c0...118% 117% 117% 117% B. ik 0 49 48% 48% 48% Beth. Steel *B>. 78% 78% 78% 78% i Brk. Rap. Tran. 25% 24% 25% 25% ■ Cal. Pete 57% 50% 57% 56% : Can. l’ac. Ky... 143% 142% 142% 143 Cent. Leather... 40% 39% 4040% Chandler Motor. 76 74% 75% 75% C. A 0 67% 67% 67% 6*% C.M & St.P.com 29% 28% 28% 28% CM. & St.P.pfd. 40% 45 45 45% I Chi. & X. W.... 76 75% 75% 75% i C.. it. I A IV .. 40% 64% 45% 40% C.R.IAP.7%pfd.. 96% 96 90% 96 i Chili Coper 22% 22% 22% 22% 1 Comp. & Tab... 70% 67 69% i Cluett & Peabdy 55% 55 55 i Chino Copper.. 31% 3**% 31% 31% Columbia Gas.. .89 88% *Bl% 88% Coca-Cola 59% 58% 58% 59 Col. Fuel X Irn. 36 35% 36 35% ! Consol. Gas. ...118 117% 117% 116% | Continental Gas 67 66% 60% Corn Products. 102% 101% 101% 101% | Crucible Steel.. 75% 73% 73:4 73% Cub.-Am. Sugar 25% 24% 24% 25% Cub. Cane Sug. 17% 16% 16% 17 Dei. & Hudson.l26 124 126 124 Del. & Lacka. .129% 128 129% 127 Dome Mines... 28 27% 28 Erite 17 15% 16% 15 Erie Ist pfii... 25% 24% 25% 24% Endieott & J... 84 83% 84 83% Famous Players 83% 81% 82% 81% Fisk Rubber... 18% 17% 18 18 General Asphalt 63% 02 62 62% Gen. Cigars 74 73% 73% Gen. Electric 165% 165% 165% 164% Gen. Motors 15 14% 14*,) 14% Goodrich 41% 41% 41 % 41 j Gt. North. pf*l.. 79% 77% 77% 7S , Gt. North ure.. 41% 41% 41% 41 I Gulf States Steel 75% 74% 75% 71%, Hupp Motors 20% 20% 20% 20% Houston 0i1.... 81% 79% 80% 79 Illinois Central. 106% 106 106 100% Indiahoma 4% 4% 4% ..... Inspir. Copper.. 43 42% 42% 42% Inter. Harv 103 102% 103 ..... Inter. Nickel 18% 18 IS 18 Inter. Paper 52% 51% 51% 52 Invine. Oil 18 17% 18 18% j Keystone Tire. . 23% 22% 22% 22v a Kelly-Spg. Tire 52% 51% 51% 52 Kenneeott Cop.. 3.8% o>% 38% Lacka. Steel 7''% 78 78 *8 Lee Tire A Rub. 24% 34 34% 34% Lima Loco 11l 110% 110V* Mb's Lehigh Valley... 65% 61 64 64% L Ac N 119% 119% 119% 119 Loews Inc 17% 16% 16% 16% M irtin Parry 35 * 33 33 33 Marine com 21% 24% 24% 23% Marine pfd 84% 83% 83’.* 8.y% May Stores 118 116% US .... Maryland Oil 32% 32% 32% 31 s I’ete 136% 134% 135 136%] Miami Copper... 3*>% 30% 30% • ... j Maxwell <A>... 24% 23 23% -3% Midvale Steel... 44% 42_ 43% 41% Mo. Pae. Ry 24% 2.7% 24% 24% Mo.P.liy. pfd... 58% 57% 57% 58 Mont. fc Ward... 24% 23% 23% 23% Xev. Con. Cop*. 18% 18% 18% Is% N.Y. Airbrake.. 7*% 78% 78% 78 N. Y. Central... 92% 01% 01% 91 New Haven ... 34% 33% 33% 35% Nor. & West.. 107% I<*6% 107% 107% North. Pacific.. 77% 77 77 77% Owen 80tt1e.... 30% 3*>% 36% 3*>% Pro. & Refiners. 41% 43% 44 45 Pacific Oil 64% 63% 64% 64V* , Pan.-Am. Pet. .. 67 66 6i% 60--^ Penna Ry 42 41% 41'* 41 % People's Gas .. 86% 86% 86% 86% Pere Marq 33% 33 33 33 Pleree-Arrow... 20% I'.*% 19% 20 Pierce Oil Cos. . 10% 10 10 10% Pullman Car... 123% 123% 123% 123% Pure Oil 33 32% 32% 32% ; Ry. Stl Springs 10.3 101% 103 Read ng S 1 % 80% 80% 81% ! Rep. Iron Stl... 75V* 72% 72% 72% | Iteplogle Steel .. 37 3*l 36 30% j Royal Dutch .. 64 63 63% 63% I Sears-Roebuck. 78% 76% 77% 76% i Sinclair 37V* 36 36% 36% j Imperial Steel... 37% 31% 37 35 j Sloss SS. & 1.. 51% 51 51 Southern Pacific 92% 92 92% 92 ■ Southern Rv.... 25% 24% 24% 21% ; St. LA-S WFy 32% 31% 31% 32% S Oil of Cal 117% 113'% 117% 113% S Oil of N J.... 192% 188% 191% 187% I St I. &S F com 31% 30% 30% 30% i Stewart A W... 4.3 49 43 41 I Stromberg Carb 55 53 s * 53% 53 ! Stud-baker 123% 120% 122% 120%! Texas Gas A- S 46% 46 46 47 , Tex Coal & Oil 30% 29% 30 30% ; Texas Cos. 4'.* 48 49 48% Texas A Par 35% 34% .34% 34% T--b. Products.. 74% 7.3% 73% 73% Trans. Oil 20% 16% 20 17 in ion 0 ; 1 22% 22 22% 22% I'nion Pacific ..141% 130% 140 139% United Drug 78 76 s * 70% 7>.i I'nited Drug .... "8% 76% 76 s * 79 r. S. R. Stores.. 6*8 7 * 06 1 ■- 67** 60% C. S. Castiron P. 36 36 36 35% U. S. In. Alcohol 55 54% 54% 54% V. S. Rubber.. 65% 65% 64% 64% V. S, Smelting.. 44% 44 41 44% F. S Steel 102% 101% 101% 101% F S. Steel pfd. 118% 118% 118% psi, Utah Copper ... 65% 6s 68 67% V;tn. Steel 51% 50% 51 s‘>% Walias a 12% 11% 12% 11 Wab. Ist pfd. 33% 32% 33% 32% ‘ Worth P 52% 52 52 52% | West. Pacific .. 22% 22 22 .... I West, Union ...97% 97% 97% 98% j West. Elec. ... *'*3% 62% 62% 62V* White Motors . 49 49 49 49V* W. Over 8% 8 S% 8 White Oil 10% 10% 10% 10% | Wis. Central .29 29 29 .... Wool worth ....159 159 159 158

NF.YY YORK LIBERTY BONDS. —May 22 Prev. High. Low. Close. Close. L. B. 3% s 99.90 99 72 99.90 99 70 L. B. Ist 4s 99.50 L. B. 2d 4s 99 60 L. B. Ist 09 94 99.84 99.84 99.86 L. B. 2d 4%5... 99.78 9!) 72 99 70 99 72 B. 3d 4%s 99 98 99.94 99.94 99.96 L. B. 4th 4%5.. 99 94 99.90 99.94 99 90 Victory 3%s 100.02 100.00 Victory 4 :, *s 100.82 100.78 100.82 100.80 NEW YORK SUGARS. NEW YORK. May 22—Trade in raw sugars was rather dull on the exchange h“re today, but prices ruled about steady. Cubas were quoted at 4.07 c per lb. duty paid, while Porto Ricos sold at 3.BS®4.Diaper lb. duty free, delivered. Refined sugars were dull, with values about steady. Fine granulated was quoted at 5.35415.50 c per lb and No. 1 soft at 5.29 ®5.50e. NEW YORK COFFEE. NEW YORK. May 2: -Coffee values were about steady in tt u’.ing on the exchange today, opening options being 5 points lower to 3 points higher. Rio No. 7 on spot sold at 10%®11%c per lb. NEW YORK RICE. NEW YORK. May 22—Rice valuee were wear in trading on the exchange today, domestic being quoted at 3%® 7%c per lb. STANDARD OIL OF INDIANA. Sales, not reported. jn?f**Vnnu Hl bl * K ***' tow *

OILS FEATURE STOCK TRADING Standard Oil Issues Sustain Sharp Upturns. NEW YORK, May 22.—The Btock market closed steady today. The Standard Oil issues were the feature of the late dealings, Standard of New Jersey advancing over 5 points to 192%; while Standard Oil of California moved up over 4 points to 117%. There was heavy buying in Transcontinental Oil, which sold at 20%, a gain of over 3 points. United States Steel reacted front 102% to 101%, and reactions of about 1 point occurred in other steel shares. The railroad and motor shares also receded fractionally. Government bonds were unchanged and railway and other bouds steady. Stock sales for tlie day wore 1,267,700; bonds, $15,807,000. (By Thomson & McKinnon) May 22 Business was resumed this morning in a very active fashion. Judging by the demand for stocks after ten months of j continuous rise one would naturally suppose that the supply would give out and that there will not be enough stocks to go around. This stock market is no longer the market of old. It is now a sort of happy land and all that is necessary is to enter and profits will quickly follow. It Is now a market where the news makes no difference. It matters not whether you have good news, bad news or no news at ail. Buying continues Just the same. We have au official statement from the White House that the President requested railroad executives to cooperate with the Interstate Commerce Commission to reduce freight rates. A request from the White House is to command. If it means anything at all, it means that the interstate Commerce Commission is prepared to announce an important reduction. Otherwise there would have been no occasion to call the executives together. This has created a very bearish situation. The railroads at present are not so prosperous a* to be able to cut their revenue in a drastic fashion, and it will be at best very difficult to reduce wages as a compensation. The long account has assumed large proportions. Much caution Is now necessary and It seems to us nothing more than good business policy to market some long stocks while it can be done to such advantage. TWENTY STOCKS A VERA GE. NEW YORK, May 22—Twenty industrial stocks last Saturday averaged 94.65, off .15 per cent. Twenty active rails averaged 86.13, up .85 per cent. CLEARING HOI’SE STATEMENT. NEW YORK, May 22.— Exchanges. $386,100,000; balances. <56.600.000; Federal Reserve Bank balances, $54,700,000.

Money and Exchange

Indianapolis bank clearings Monday were $2,979,000; bank debits, $4,840,000. NEW YORK, May 22—Demand Sterling was steady in trading on the foreign exchange market today, being quoted at <4 45. Franc cables were !)-•; checks. 8 90%c. Lire rallies were 5.12%c; cheeks. 5.12 c Belgian franc cables were 8.27 c checks. 8.26%c. Marks were ,0032 c. Swedish kronen cables were 25 vie; checks, 25 79c. Guilder cables were 38.86; cheeks, 38.85. Norway kronen cables were 18 20c , cheeks, IS 15c Denmark cables were 21.34 c; cheeks, 21.29 c. NEW YORK ('ALL MONEY. NEW YORK, May 22.—Money—Tall money ruled 3% per cent; high 5 per cent; low 3% per cent. Time rates — Quiet; rates 3%®4%. Prime mercantile paper—Quiet. Cull %. Sterling Exchange was quiet, with business iu bankers' bills at $4.44% for demand. MOTOR SECURITIES. (By Thomson A McKinnon.) —May 22. —Closing— Bid Ask Earl Motors 4% 4% Packard com 13% 13% I’itckard pfd Bs% 90 Peerless 45% 46% Continental Motors com 8% 8% Continental Motors pfd 88 90 lfupp com 20% 21 Hupp pfd 98 10.3 Reo Motor Car 24% 21% Elgin Motors 2% 3 Grant Motors % % Ford of Canada -375 380 Federal Truck 19 21 Paige Motors 20% 2..2 Republic Truck 8 8% ACTIVE OIL STOCKS. (By Thomson A McKinnon.) —May 22 —Opening.— Bid. Ask. Anglo-American Oil 20% 2<1% Borne-Scrymser 36 > 380 Bu keye Pipe Line 97 99 Chesobrongh Mfg. Cons 190 2*to Colonial Oil 140 130 Crescent Pipe Line 35 3s Cumberland Pipe Line 135 145 Elk Basin Pe.e 9% 9% Eureka Pipe I lne 99 102 Galena-Signal Oil. i’rcf. ...105 I**B Galena-Signal Oil. Com 53 56 Illinois Pipe Lino' 183 187 Indiana Pipe I.lne 93 96 Merritt Oil 1.3 13% Midwest Mil 2% 3 Midwest ltfg 200 213 National Transit 29 30 New York Transit 175 lx*i Northern I’ipe Lino 106 109 Ohio Oil 315 320 Sapulpa Refg 4% 4% Solar Refining 350 370 Southern Pipe Line 101 104 South Penn Oil 218 225 Southwest Penn Pipe Lines . 6> 65 Standard Ol! Cos. of Ind. ...1(6% I*>7 Standard Oil Cos. of Kan. ...550 570 Standard Oil Cos. of Ky. ... 8-'% 82'% Standard Oil Cos. of Neb. ...190 900 Standard Oil Cos. of N. Y. ...GC. 410 Standard Oil Cos. of Ohio ...460 480 Swan & Finch 30 40 Washington Oil 20 30

CHICAGO STOCKS, (By Thomson & McKinnon.) May 22 — Open. High. Low. Close. Arm. A Cos. 97 97 96 % 97 Armour Leather 12% Do pfd 85 Case Plow 4% 4% 4% 4% C. O. A- C. R pfd 8 C. E. R. pfd. .8 Cudahv 65 65 % 65 65% Cob. Edison ...130% 130% 13*'% 130% Con. Motors ... 8% 8% 8% S% Deere & O. pfd. 78 80 78 B*> Diamond M. 116 Karl Motors ... 4% ft 4% 4% Libby-McNeill . 2% 2% 2% 2% Mont. YYard 23% 24% 23% 23% Nat. Leather .. 2 Nat. L., New... 8% 8% 8% 8% Pick &. Cos 26% 27% 26% 27 Ptggly W. “A". 44 45 44 45 Quaker Oats ... 95 96 95 96 Reo Motors ... 24% 24% 24% 24% Stewart-War. .. 41 43% 41 42% Swift & Cos. ...103 103% 103 V 3 Swift Inti 20% 21 20% 20% Thomp. (J. K.) 49 50% 49 49% Tern. Corn A... 2% V. C. & C. ... 58 58% 57% 57% Wahl 65 65 % 64% 646, Yellow Taxi ... 73 73% 73 73% NEW YORK WOOL. NEW YORK. May 22.—W00l prices were firm on the market today. Domestic fleece. XX Ohio, was quoted at 38® s(>e per pound, domestic pulled, scoured basis at 50®GOo and Texas domestic, scoured basis, at 600®51.15. NEW YORK METAL MARKET. NEW YORK. May 22.—Copper—Steady; spot May and July. 12%®13*-. LeadSteady; spot and .Tune, 5.40 c bid. Spelter —Steady; spot and May, 5.10 c, bid; June! 5.10 c bid. NEW YORK PETROLEUM. NEW YORK, May 22.—Petroleum prices were steady in trading on the exchange here today. Pennsylvania crude oil maintaining its long-standing quotation of $3.25 per barrel. NEW YORK HIDES. NEW YORK, May 22—Hides wen quiet and steady in trading on the market here today, native steer hides selling at 13%c and branded steer hides at 13c. NEW YORK TURPENTINE, NEW YORK, May 22.—Turpentine sold at 67%r pr gallon on the market today

INDIANA DAILY TIMES

Local Stock Exchange

—May 22STOCKS. * , , Bid. Ask. Ind. Ry. & Light com 67 Ind. Ry. & Light pfd ?S Indpls. St. Ry 52 57 Indpls. N. W. pfd 60 Indpls. & S. E. pfd 60 T. H.. T. & L. pfd 72 T. H., I. & E. com 5 T. H„ I. A E. pfd 06 T . T. of Ind. com 1 ! u. T. of Ind. Ist pfd 5 10 U. T. of Ind. 2d pfd 2 : Advance-Kumely pfd I Advance-Ruinely com ... I Am. Central Life 200 ... j Am. Creosoting pfd 94 ... i Beit R. R. pfd 50% ... Belt R. K. com 60 62% Century Bldg. Cos. pld 03% ... Citizens Gas Cos 21% ... City Service com 228 City Service Cos. pfd 61% 67% Dodge Mfg. pfd Home Brewing 4P ... ! ind. Hotel com 56% ... ! Ind. Hotel Cos. pfd.. 99 Ind. Nat. Life Ins. Cos 2 Ind. Title Guarantee 70 Ind. Pipe Line 92 ... Indpls. Abattoir pfd 45 Indpls. Gas 45 Indpls. Tel. pfd Indpls. Tel. com -Mer. I’ub. Util, pfd 48 Nat. Motor Car Cos 1% ... Pub. Savings Ins. Cos 8 ... Rauh Fert. pfd 47% ... Stand. Oil of Indiana 105% ... Sterling Fire Ins Ct 7 ... Van Camp Hdw. pfd 90 Van Camp Prod. Ist pfd 97 100 Van Camp Prod. 2d pfd Vandalta Coal Cos. com 1 ... Vandalla Coal Cos. pfd 7 12 Wabash Ry. pfd 31% ... Wabash Ky. com 11 BONDS. Broad Ripple 5s 62 67 Citizens St. Rv. 5s 82 Indian Creek Coal A Mine 6s ... 100 luil. Coke A Gas 6s 86 Indpls. C. A S 5s 91% ... Indpls. & Martinsville 5a ~ 58 ... Indpls. A North. 5s 41 46 indpls. St. Ry. 4s 6u% 65% Indpls. A N. W. 5s 53 55 Indpls. A S. E. 5s 40 Indjds., Shelby. A S. E. ss. 70 T. If., I. AE. 5s 64% 65% Citizens Gas 5s 85 90 Indpls. Gas 3s 85 88 Kokomo, M. A \V. 5s 87 90 Ind. Hoel Cos. 6s 99% Indpls. Water 5s 96 100 Indpls. Water 4%s 8t ... Indpls. T. A T. 5s SO 85 Indpls. L. A H. 5s 90 94 U. T. of Ind. 6s 54 Mer. H. A L 5s 99% 100 New Tel. L. D. 5s 97 New Tel. Ist Os 97 South. Ind. Power 6s 87 92 LIBERTY BONDS. Bid. Ask. Liberty, first 3%s 99.70 90.84 Liberty, first 4%s 99 76 99.86 Liberty, second 4%s 99 64 99.74 Liberty, third 4%s 99 86 99.96 Liberty, fourth 4%s 90.86 99 92 Victory, 4%s 100.68 100.78

In the Cotton Market

NEW YORK, May 22.—The cotton mar- ! l;et opened steady today, with May .3 ; points lower and the other months 22 to 33 points net higher. The strength was chiefly due to reports of heavy rains in Texas. Local houses 1 sold, but .New Orleans was a good buyer 1 The market continued strong after the opening, and at the end of the first ; fifteen minutes showed net gains of 38 1 to 41 points. New 1 ork opening cotton erb’es: May, j 21 2**. ; July, 20.15*-; October, 29.09 c; Do-I • •••tuber, 20 08c; January, ib.s® ; March, | 19.70 c. —Cotton Futures— Open. High. I/ w Close. ! January 19 Mt 20.06 19.73 10.81 March 19.70 19 98 19 -55 19.65 i May 21.20 21.62 21.17 21.53 j July 29.15 20..39 20 96 10.26! October 20.00 20.30 19.85 20.06! December 2*1.08 21.24 19.88 19.98 1 NEW YORK, May 22.—The market was taken by surprise this tni-rning. Instead, of the clear weather map that was in* 11- | c.-.fi-il. numerous report* of rain in the Southwest appeared nnd this was fob i lowed again by gen.-ral buying at a con- , slderable advance over Saturday's closing prices. The official rainfall did uot confirm the rather sensational private reports anil considerable profit taking appeared, which gave us an easier market, but with no change In general sentiment, which remains bullish, bused as much on the statistical position of cotton u on the ! poor -Southwestern crop outlook. Nevertheless, the constant rains In the Southwest having been of material lutlu one** in the recent buying. It would bu no! more than natural to look for continued! profit taking on better weather and we I would therefore await some substantial react ion 1- fore again buying. The market was steady in the late! dealings, closing at a net advance of 10 to 38 points. Spot cotton was steady, being 35 points up at s2l.B**. I'ontract deliveries ran close to 19,0*50 bales. LIVERPOOL, May 22 There was s good demand for cotton on the market ! here today. Prices were easier, and sales approximated 16,0*4) bales*. American mills, fair, 13.35*1; good midH, 12.25*1; fully mills, 11.95d. mills, 11.8*81; low mills, 11.35*1; good ordinary mills, 10.50d; ordinary ml-ls, 10.1X81. Futures were quiet during lultlal trading.

Weather

The following table shows the state of the weather at 7 a. m., May 22, us observe. l by U. S. Weather Bureaus: Siation Bar. Temp. Weather. InilluimpoltH, Ind... 80.11 64 Clear Atlanta. Ga 3**o} 66 Cloudy Amarillo, Texas .. 29.*8 54 Clear Boston, Mass 30.10 66 Clear Chicago, 111 30.16 60 Clear Cincinnati, 0hi0.... 30.10 62 Clear Cleveland. 0hi0.... 30.20 68 Clear Denver, C.. 1 30.04 46 Clear Jacksonville, Fla... 50.02 28 I’t.Cldy Kansas City. M 0... 29.82 64 Rain Louisville, Ky.. 30.06 66 Clear Little Rock, Ark... 29.88 6*l Rain I.os Angeles, Cal.. 29.96 56 Clear Mobile, Ala 29.98 7*4 Cloudy .Vow Orleans. La... 29.96 7*! Clear Now York. N. Y... 30.08 68 Clear Norfolk, Va 30.08 70 Rain Oklahoma City ... 29.84 6o Cloudy Omaha, Neb 29.94 60 Rain Philadelphia. Pa... 30.10 68 Clear Pittsburgh. I’a. ... 30.16 02 Clear Portland. Ore 30.40 42 Clear Rapid City, S. D.. 30.10 54 Cloudy San FraucLsco, Cal 30.14 52 Clear St. Louis, Mo 2996 68 PtCldy St. Paul, Minn 30.12 64 PtCldy Tampa, Fla 30.02 74 PtCldy Washington, D. C.. 30.08 68 Clear HEATHER CONDITIONS. In connection nlth n barometric depression covering (lie States went of tlie Mississippi river, nliowera have occurred In that region, while showers also have fallen in parts of the middle and south Atl.uitlc Stntes and on (lie north Pacific. Temperature changes have not been decided. ns a rule, over large areas, although it is a little cooler in the southern Plains region. Moderate temperatures prevail in practically all districts from the Plains States eastward. CORN AND WHEAT BULLETIN. For the twenty-four hours ending at 7 a. m., Monday. May 22. 1922: temper- ~ " ature. 0 - Stations of g ° j Indianapolis „c £ " _e ►* District. fg g= 5 .c ® j= ~ S'® Ss !£ -I Is *f§ ii“ South Bend f 72 I 52 0 I Good Angola 80 |4S 0 j Good Ft. Wayne 74 | 62 0 Wheatfield 69 j 55 0 | Good Royal Center ... 76 | 62 01 Good Marion 77 j 51 0 I Good Lafayette *.. 80 157 0 I Good Farmland ... 78 | 48 0 | Good Indianapolis 79 | 57 0 Good Cambridge City. 77 i 51 0 'Good Terre Haute 82 ! Go 0 | Bloomington 85 j 57 0 I Good Columbus 85 j 53 0 i Good Vincennes 85 1 61 0 j Good Paoli ’ 78 | GO 0 | Good Evansville |B2| 62 I 0 : J. H. AK.VIINGTON, * Meteorolngtst, Weather Bnrean.

SWINE PRICES 5 CTS. LOWER Cattle Values Display Strength —Veals Are Strong. RANGE OF HOG PRICES, Good Good Good Hay Mixed. Heavy. Light. 15%[email protected] $10.65010.75 $10.85010.90 16. 10.85 @10.90 [email protected] 10.95011.00 17. [email protected] [email protected] [email protected] 18. 10.80 @ 10.90 [email protected] [email protected] 19. 10.80 @10.90 10.75 @ 10.80 [email protected] 20. 10.80 @10.90 10.70 @ 10.80 [email protected] 22. [email protected] [email protected] 10.85 @ 10.90 Swine prices were 5 centa lower generally in trading on the local live stock excuange today. Receipts for the day ran close to 5,006 and the demand by both shippers and packers was good. Packers, however, bought the bulk of the receipts. Trading was active and practically all of the bogs had teen sold before the close of the early forenoon hours. Lower price tendencies elsewhere, .-specially at Chicago, had a weakening effect upon the local market. There was a top of SIO.OO on light swine, while the bulk of that grade brought $lO. SO® 10.85. The bulk of the sales ranged at $10.80®19 90 and the range of prices was $10.60® 10.90. There was a much better demand for pigs and they commanded better prices, bringing $10.75 and down. Roughs also were in good demand, selling at steady prices. Roughs brought $9®9.00 and stags $6.50®7.50. With cattle receipts light at around 700, prices were strong to 15 to 25 cents higher. Cow and heifers commanded prices that were strong generally, but there were higher spots. Steers also were higher in spots, and bulla were fully steady, as were canners and cutters. There were a few sales of heifers at $8 50, which was the top for the day. There were also sales of this grade of cattle at $8.25 and SB. Steers brought a top of $8 25, while there were several sales at SB. Veals were strong, with receipts light at 450 and the shipping demand strong. There was an extreme top of sll, while there were several sales of good to choice veals at $10.50. The bulk of the good to choice veals sold at slo® 10.50. Sheep were steady and lambs sharply higher with less than 100 on the market, the quality poor generally and the demand good. A few springers brought sl6, which was the top for the day. HOGS. _ „ 100 to 180 lbs. average |10.55®10.90 Over 800 lbs 10.50® 10.60 150 lbs. to 300 lbs 10.65®10.90 Best pigs, under 140 lbs 10.30®10.75 Top 10.90 Roughs 9.00*3 9.50 Stags 6,75® 7.50 Bulk of Bales 10.75® 10.90 —Cattle— Few choice steers 8.25® 8.50 Prime corn fed steers, 1,000 to 1,800 lbs 7.65(3 8.00 Good to choice steers, 1,200 to 1,800 lbs 7.25® 750 Good to choice steers, 1,100 to 1,200 lbs 6.75® 7.00 Good to choice steers, 1,000 to 1,100 lbs 6.25® 6.65 Common to ruodlum steers, 800 to 1,800 lbs 5.75® 6.25 —Cows and Heifers— Good to choice heifer* 7.75® 8.50 Medium heifers 7.25® 7.65 Common to medium heifers.. 6.00® 700 Good to choice cows 6.00® 7.00 Fair to medium cows 4.25® 5.50 Canners 2.75® 4.o*> Cutters 2.50® 3-85 —Hulls— Fancy butcher bulls 5.50® 6.25 Good to choice butcher bulls.. 3.25® 6.00 bologna bulls 4.00® 4.75 Light bologna bulls 3.75® 4 25 Light common bulls 3.50® 3.75 —Calves— Choice veals 10 00® 11 Oo Good veals 9.00® 19.00 Medium veals B.oo® 8.50 Common to heavyweight veals 7.0*1® "00 Lightweight van la 6.50® 7.00 —Stockers and Feeders— Good to choice steers under SoQ lbs 5 75® 7.'50 Medium cows 2.50® 4.00 Goo-I o-ws 3.25® 4.25 Go-id heifers 3.75® 6.75 Medium to good heifers 4.30® 5.75 —Sheep and Ismiu— Cull ewes 2.oo**# .... Good to choice ewes 2.00® 4 50 Bucks 2 00® 300 Clipper lambs 8.00fi10.00 Wool lambs 11.00® 1.3.00 Springers 13.00® 16.00 Hoi k lambs 5.00® 0.00 t.'ulla 2.30® 4.00

Other Livestock

CHICAGO, May 22.—Flogs—Receipts. (12,000; market 20@35c lower; bulk of sales. 510.30® 10.7 h; top. $10.71: heavies. [email protected]; mediums. [email protected]; lights, [email protected]; light lights. Jlo@ 10 70; heavy packing sows, smooth. $9 40 ftt9.76: packing sows, rough, [email protected]: pigs. [email protected]. Cattle —Receipts, 24.000; market alow, ateady to 15c lower. Beef steers—-Choice and prime. $8 03@9 13; medium and good, $7 [email protected]; good and choice. [email protected]; common and medium, [email protected]. Stitcher cattle —Helf.-rs, $5 on @8.50; cows, [email protected]; bulls. $4.25® 6.40. Canners and cutters—Cows and heifers, J3 [email protected]; eauner steers. $4 75® 5 75: veal calves, light and handy weight. $7 [email protected]; feeder steers, $6.10@7 83: stoeker steers. $5.63®7.75; Stocker cows :iiml heifers, [email protected]. Sheep and lambs -Receipts, 18,000; market steady to 25c higher: good to choice lambs, slo® 13.25; cull and common lambs, [email protected]; spring era, sl3 [email protected]; yearling wethers, $8 50 @10.75: ewes, [email protected]; cull and common ewes, s2@4. CINCINNATI, May 22—Hogs—Receipts, 6,700; market, steady to 15 cents lower; pigs, higher; all grades good hogs. $10.85; roughs, $9; stags, $5.75. Cattle - Receipts, 1,400; market, weighty steers and medium cows, slow and weak; light butcher stock, strong; good cows, steady; hulls, alow to 25 cents lower; calves, $lO ft? 10.50. Sheep and Lambs —Receipts. 1. 200; market, steady; ewes, JO down; choice lambs, [email protected]; seconds, $10@11; culls, J7@o. CLEVELAND, May 22.—Hogs—Receipts, 6,(MX); market, 25 to 35 cento lower; yorkers, mixed, mediums and pigs, $11; roughs, $8.50; stags, $5.50. Cattle— Receipts, 1,000: market, active and steady generally; good to choice steers, [email protected]; good to choice heifers. stl@7; good to choice cows, [email protected]; fair to good cows, $4.50(0:5.50; common cows. s3@4; good to choice trulls. sti@7; milkers, $35@75. Sheep and lambs—Receipts, 1.000; market, steady ; top, Jl3. Calves —Receipts, 900; market, active; top, sl2. EAST ST. LOCIS, May 22. Hogs—Receipts, 10,500; market, 15 to 25c lower; pigs, 35 to 50c lower: mixed and butchers, [email protected]: good heavies, [email protected]; roughs, [email protected]; pigs, [email protected]; bulk Os stiles, $10,[email protected]. Cattle— Receipt*, 6.000; market, steady; native beef steers, sß@9; yearling steers and heifers, $8.50; cows, $4.50®6.50; stockars and feeders, $6 (.■7; calves, ss@lo; canners and cutters, >:;[email protected]. Sheep and lamb*—Receipts, 2,ixm>; market, steady to lower: mutton ewes, $4@5. 25 ; good to choice lambs, sll @l2; canners and Choppers, sl@3; springers, si.;@ 14.50. EAST BUFFALO, May 22,—Hog*— Receipts, 15,200; market, active; yorkers. [email protected]; pigs, $11.25; heavies, $U@ 11.15. roughs, [email protected]; stags, J5.50@6. Cattle—Receipts, 2,400; market, active and soady tostrong; shipping steers, sß® 8.25; butcher grades, [email protected]; heifers $5.50(3)8.50; heifers. $5.50®7.75; feeders. so@7; bulls, [email protected], milk cows and springers, s4s® 125. Calves— Receipts. 3,500• market, active: cull to choice, $4 @11.25. Sheep and lambs— Receipts. S.O'X); market, active; choice lambs, sl3 @13.50; cull to fair lambs, [email protected]; yearlings, s7@ll. sheep, [email protected]. PITTSBURGH, May 22.—Hogs—Receipts, 7,500: market, steady; prime heavies, [email protected]; mediums. [email protected]; heavy yorkers, [email protected]; light vorkers $1.35@ 11.45; pigs. [email protected]; 'roughs. [email protected]; stags, [email protected]; heavy mixed. [email protected]. Cattle—Receipts, 1,40(1; market, steady; choice. $8.5(1f®8.85: prime, [email protected]; good, [email protected]; tidy butchers] [email protected]; fair, J7.50@8; common. s7@ 7.60; comon to good fat bulls. [email protected]; common to good fat cows, [email protected]; heifers, [email protected]: fresh cows and spring' era. $50@80; veals, $11; heavy and tbin calves, ss@B. Sheep and iambs—Receipts, 4.000; market, steady; prime wethers, $7.50@9; good mixed, [email protected]: fair mixed, ss@6; mills and commons. s2@ 5; good to choice lambs, [email protected], $15.50@16. WHOLESALE BEEF PRICES. The following are today's wholesale prices for beef outs as sold on the Indi- I nnapolis markets of Swift & Cos.: Ribs— No. 2. 17c; No. 3.14 c. Loins—No. 2,23 c; ] No. 3.19 c. Rounds— No. 2,15 c; No. 3, 14c, Chucks —No. 2,10 c; No. 3, 9 c. Pistes i —No. 2, To; N®. 8,6 e.

WHEAT SUFFERS LATE DECLINES Favorable Weather and Lower Foreign Market Factors. CHICAGO, 111., May 22.—May wheat declined sharply in late dealings on the Chicago Board of Trade today. Favorable weather coupled with a lower foreign market, light export demand and heavyselling caused the drop. Corn closed fractionally lower. Trading was dull. Oats were lower. Buyers were scarce, with local interests doing most of the bidding. Provisions were irregular during the entire market session. May wheat opened up %c at $1.36, and closed off 2%c. July wheat opened off %c at $1.23%, and closed up 2%c. September wheat opened oft %c at $1.18%c, and closed up %c. May corn opened unchanged at 61%c and closed off %c. July corn opened unchanged at 64%c, and closed off %c. September corn opened up %c at 6C%c, and closed off %c. May oats opened unchanged at 37%c, and closed off %c. July oats opened off %c at 39c, and closed off %c. September oats opened off %c at 40%c, and closed off %c. (By Thomson & McKinnon.) —May 22 Wheat—The situation in wheat remains one of exceedingly poor demand from any source, accompanied by surprisiugly large receipts, especially in Southwestern markets. Foreign markets are no more than sympathetic with us, but, at tlie same time, buyers, both abroad and at the seaboard, are Indifferent, no export business of any prominence being reported. World's shipments todav were about an average in size and still the amount on passage showed an increase. Cash wheat iu domestic markets can not he called weak, none the less, it is in slow demand in milling centers. Some damage to the new crop by wind and ruin is reported from localized territories, tut judging from the i roe movement of old wheat from producing sections, the crop outlook, as a whole, is good. Values show some resistance to the weight of the cash wheat, because of the accepted belief that importing countries will ultimately accept all of our new crop. The market, however, is plainly in need of something other than this to tarn prices upward. New incentive may appear in time from unfavorable crop news, especially if there Is a period of heat and drought, but until new factors are injected into the situation, tfio price trend promises to be lower. Corn and Oats—Many who were only recently friendly to eorr. and oafs have been temporarily converted because of the size of the visible supply nnd the failure o fony great demand to develop. There has been considerable liquidation in both Corn and oats In addition to selling bv cash handlers. These markets, like wheat, are not apt to display any permanent strength until something new in the situation arises. Provision*—--The action of grain* and a weak hog market have induced considerable liquidation In provisions. Values were held in cheek 1-v a demand from packing interests. Sentiment iavors lower prices fur a time. CHICAGO GRAIN TABLE. —May 22 \\ HEAT— Open, High. Low. Close. May 1 .3*l 1.36% 1.32 1.33% July ) 23% 1.24% 1.22 1 23% Bei-t 1.18% 1.19% 1.17% 1.19% , May r. 1% ,*l% .n% .61% July 64% .64% .63% .64% Sent 60* .06% .Oo 7 ;* .60% May 37% .37% ..36% _36 7 4 July 39 .39% .38 ,3s % Pul**' .41)%, .39% .40% •May - 23.20 LARD - May 11 26 11.22 11.17 1 1.22 July.... 11.37 11.40 11.37 11.37 S*q>t 11.tW 11.70 11.60 11.63 R IBS—•May 13.30 •Juiv. 11 97 •Sept.... 11.80 RYE— May 106 106% ITM% 1.05% July I**o% 1.00 1.04% 104% Sept 98 .98 .97% .97% •Nominal.

CHI PA GO CASH GRAIN. CHICAGO, Mav 22. Wheat No. 2 red, [email protected]%; No. 3 red, $1.25%@131; No. 2 hartl winter, $1.32% @1.36%; No. 3 hard winter, sl.2B‘a® 1.31; No. 1 northern spring, dark, $1.30@L52; No. 4 dark. $144; No. 3 mixed, $1.23. Corn—No. 2 mixed, tUVtitftUV-; No. 2 white. 61 % & • 62%c. No. 2 yellow. 61 %@62 •'•*.■; No. 3 mixed, No. 3 white, or. 61 \c: No. 3 yellow, 60*4@02e; No. 4 mixed, 00@60A*c; No. 4 white, 60%e; No. 4 yeUow, 60@>l-\c. Oats—No. 1 white, 40 % @42c • No 2 white, 38%@42Uc; No. 3 white, 37%@40%c. No. 4 white, 36@38%c. TOI.EDO SEED AND GRAIN. TOLEDO, May 22 -Cloverseed. 13 75; October. $11.45. Alsiko—Gash, $11.5*1; August, $11.73; October, $11.20. Timothy (..'ash, s3.li>; September. $3.40; October, $3.25. Wheat sash, $1 33b.® 1.35; May. $1.33%; .Inly, $1.26. Corn—Cash. 60%®; 67 %c. Oats Cash. 43@45c. Kyo—Cash, $1.06%. Barley—Cash, 68c. IN DIANA I*ol,lß CASH GRAIN. May 22 Bids for car lots of grain and hay at the call of tho Indianapolis Board of Trade were: Wheat -Easier; No. 2 red. $1."[email protected]. Corn — Steady : No. 3 white, (Ss@3%c; No. 4 white, 64® 64 *4c ; No. 3 yellow. 64% ®6sc; No 4 yell iw, 63%@t4c: No. 3 mixed, 64@64%c : No. 4 mixed. [email protected] Oats Easier; No. 2 white, 41'..@42%c; No 3 white, 40’j@41c. Hay- Steady: No. t timothy, $!9.5(1@ 20: No. 2 timothy. sl9® 19.50; No. 1 light clover mixed, $18.50® lit. No. 1 clover, S2O@2L —lnspections Wheat—No 2 red, 1 car; No. 3 red, 1 car; No. 5 red. 1 car: No. 3 mixed, 1 car; sample, 3 cars; total, 7 cars. Corn No. 2 white, 1 car; No. 3 white, 3 cars; No. 4 white, 3 cars; No 5 white, 2 cars; No. U white, 3 cars: No. 2 yellow, 3 cars; No. 4 yellow, l car; No. 5 yellow, 3 cars; No. 2 mixed, 1 car: No. 3 mixed, 1 car: No. 5 mixed. 1 car; sample mixed, 1 car; total, 23 cars. Oats —No. 2 white, 2 cars; No. 3 white, IS cars; No, 4 white. 9 cars; sample white. 2 cart; No. 3 mixed, 3 cars; total, SS cars. 4k - Bye—Ns. % X ear. Hay—No. 2 timothy, S cart. *. PRIMARY MARKETS. ' (By Thomson * McKHmoa.) IdBCEIPTS. Wheat. Corn. Oata. St. Joseph ' 41.00.-) 52.000 6,600 Chicago .* 483,000 207.000 239,000 Milwaukee ... 7.000 84,000 131,000 Minneapolis .. 367,000 36.000 121,000 Duluth 44.000 23.000 2,090 gt. Louis ..k. 181.000 160.000 174,000 Toledo ....... 0,(03 1,000 29,(XX) Detroit ....... 6.IXM) 2.1 K)0 8.000 Kansas City .. 668,000 ins.OOO 20.00' Omaha it- 263.000 223,000 80,003 Indlanapoll* , 5.0C0 34,000 40,000 Totnls ....1,951,C00 832,000 850.000 Year ago .L 826.000 973,000 795,000 SHIPMENTS. Wheat. Corn. Oats. St. Joseph ... 34,000 34.003 Chicago 121,000 258,0 0 841.000 Milwaukee .. 11,000 161.01*0 82,000 Minneapolis .. 113.000 73,003 181,000 St. Louis .... 83,000 131,000 43.000 Toledo 1.0 0 1.000 47.000 Kansas City . *98.000 19.000 36,(X)0 Omaha 215,000 115.000 34,000 Indianapolis 6.C00 20,000 Totals 949.000 801.003 1,284,000 Year ago ... 7oS,(MK> 453,000 592,000 CLEARANCES. Wheat. Corn. Oats. New York .. 73.000 312.000 Baltimore 206,000 50,000 Galveston 385,000 Totals 458.000 206.030 362,0CX) Year ago ..2,484.(XX) 11,000 HAt MARKET. The following are the Indianapolis f trices for hay, by the wagon load, detvered in Indianapolis: Hay—Loose timothy, $lS@2O; mixed hay, slS@l9; baled hay, slß@l9. Oats —New, per bushel. 42@45c. Corn—Both old and new, per bushel, 63@6Sc. WAGON WHEAT PRICES. Indianapolis flour mills and elevators yesterday were paying $1.30 per bushel for No. 1 red winter wheat; $1.28 for No. S red winter and according to test for No S rd winder.

Building Permits

Ed H. Schmoe, 4 apartments, 410-12 North Bradley, $12,000. Farmers Trust Company, agents, reroof, 902 Athon. *52. / J. G. McCullough, agents, reroof, 422 Abbott, S3O. J. G. McCullough, agents, reroof, 424 Abbott, S3O. Mrs. E. Robins, reroof, 821 North Temple, $l4B. Elizabeth Durell, reroof, 2425 Adams, S9O. Clara Cartwright, reroof, 1512 Pleasant, $35. Alford Coverdale, reroof, 45 North Temple, sl6l. W. H. Long, reroof, 2959 North Talbott, $290. Sink & Edwards, agents, reroof, 609 Weßt Thirteenth, SSO. Mrs. J. F. Brown, addition, 154-56 West Twenty-Ninth, SSO. T. J. Lyke, remodel and reroof, 1622 Rembrandt, $25. Daniel J. Murray, garage, 3202 English, S2OO. Minnie S. Roesner, garage, 2036 Lexington, SSO. Peter Kretzer, double dwelling, 815-17 Parkway avenue, $7,500. John Birk, double dwelling, 4033-35 Central, $5,500. E. J. Shoobridge. double dwelling, 471416 Broadway, SB,OOO. Frank and Mary Turk, addition and remodel, 948 Haugh, $75. I). H. Martin Harris, reroof. 223 Hiawatha, S7O. N. L. Bassett, dwelling, 3941 Kenwood, 45,300. Dunlop A Holtegel, agents, reroof, 254042 Brookside, $55. Dunlop A Holtegel, agents, reroof, 254446 Brookside, $55. A. T. Bunch, reroof, 2126 North Alabama, $175. Hoosier Veneer Cos., electric sign, 3321 Massachusetts, SSO. Charles E. Riter, collar and enclosed porch, 2815 Meredith, S3OO. John Coyo, reroof, 603 West Twelfth, sl2l. Georgia Worrell, rebuild garage, 1728 Ashland, $75. John N'edert, shed, 100 South Bancroft, s*s. Hattie Crickmore, furnace, 1913 Singleton, SIBO. E. C. Brennan, garage, 16 West Raymond, SIOO. G. C. Goben, remodel, 919 East Raymond, $47. Frank Jeter, business room, 2340 West Michigan, $4,500. G. L. Sellmeyer, garage, 1519 North Dearborn, S2OO. A. J. Sellmeyer, dwelling, 1515 North Dearborn. $4,600. O. Pierce, reroof, 462 West ThirtyFirst. SBO. Victor J. Brucker, reroof, 8339 Washington boulevard, S2OO. Fred E. Warner, porch and flue, 630 Division, $250. K. E. Viney, furnace. 820 North Rural, $177). William B. Morgan, dwelling, 4830 Park, $5,500. C. J. Williams, dwelling, 2338 Spann avenue. $1,500. I. Cecil, garage, 1203 Ashland, $375. Henry Rosner, repalra, 553 South Illinois, $l5O. John A. Dungan, reroof, 1906 Bouth State, $37. Elmer H. Smltji, addition and repairs, 402 North Jefferson, $1,500. B*nnett & Toole, dwelling, 1818 North Dexter, $3,500. Ralph Goodwin, garage, 33 North Keailug, $l5O. A. Seiigman, balcony, 234 Indiana avenue, $25. H. S. and Irma Adams, addition and remodel, 2242 North Talbott, SIOO. 11. I*. Stenger, double dwelling, 4813-15 E. Michigan, $7,500. J. A. Geisendorff, addition, 1043 West Michigan, SIOO. William W. Chrlstl, reroof, 649-51 Blake, SSO. Deusenberg Auto and Motor Company, boiler house, West Washington and Harding. $3,500. Deusenberg Auto and Motor Company, reset boiler, West Washington nnd Harding. S7OO. James P. Quick, dwelling, 4907 Win . j throp, $2,000. Patrick Gavin, reroot 432 Sonth Missouri, SSO. W. E. Fults, garage, 1807 Hoyt, $125,

Births George and Raveca Kus. 533 West Pearl, girl. Charles and Maud Fender, 913 South t Capitol, girl. Herman and Theresa Wernsinff, 1613 South Talbott, Loy. John and Lonnie Lyles, 1413 Shepard, bov. John and Ruth Blrge, 5007 East New York, boy. Ciarlos and Agnes Mco, 529 South East, boy. Henry ant Dorothy Baker, 311 West Twelfth, girl. Ford and Verna Humbles. 1020 North Rural, boy. Robert and Valetta Wolf, 2008 Park, girl. William and Callle Anna Hargrave, 1326 Charles, boy. Holies and Leah Watson, 946 South Senate, boy. (’’nude and Ruth Dodd, Methodist Ho*, pita I, boy. Bert and Mary Weedon, Methodist Hospital, girl. Albert and Alma Meyer, Methodist Hospital. girl (twins). Irmo and Marie Martelll, Methodist Hospital, boy. Howard and Lorena Aughinbaugh, Methodist Hospital, boy. Clarence and Ruby Stultz, Methodist Hospital, toy. Henry and Ida Mertz, Methodist Hospital, boy. Edward and Nellie Knox, 1010 West North, boy. Tony and Susie Rizzl, 1204 East Georgia. girl. John and Marie Hess, 130 North New Jersey, boy. 1 inn * and Daisy Dunkerson, 527 North Hast, girl. .!"*• and Elva Sheehan, 1038 Hosbrook. girl. i rank nnl Violet John, 2704 Highland place, girl. Roy and Nellie Falres, 1321 East Le Grande, girl. W illiam and Lottie Doyle, .550 Warren, Ida M. Harvey, 88, 1720 Broadway, duodenal ulcer. ’ - "*—■ Raymond KUllon Valentine, % Indiani'o Orphan*’ Home, lobar pneumonia. Charles Snyder, 64, city hospital, chronic interstitial mmhritis. Mildred Gene Ban fa, 6 awths 15 daya, 1341 Herbert, tubercular meningitis. Mary Rene. 34, 509 Boutt NhaC4aina. Della J. McNutt, 49, 814 Mottfc. Meridian, ahgina pectoris. yf-MKK r Elliott Marlowe, 73, SOt H*rk TeniM, anginas pectoris. John O. Kelly, 48, St Vincent* Hospital, gastric ulcer. William O. Beck, 47, 3CE2 Talbott, acute cardiac dilatation. Clara Lowder, 32, Robart W. Long Hospital, sarcoma. Hannah H. Arrian, 80, 3104 Knox, abdoninal tumor. INDIANAPOLIS PRODUCE. Eggs—Fresh, 22®23c. Buttery-Packing stock, 16® 17c. Poultry—Fowls, 19@23c; leghorn fowls 17c; broilers, 1%02-Ib size, 45c; broilers under 1% lbs, 38c; j leghorn broilers at discount; cocks. 13c; stags, 13c; young hen turks, 8 lbs and up. 30c; old tom turks, 25c; young tom turks, 12 lbs up, SOc: cull thin turkeys not wanted; ducks, 4 lbs and up. 16®17c; geese. 10 lb* and up, 14c; squabs, 11 lbs to dozen, $5.51>@6; old guineas, per dozen. $3. Bntter —Local dealers are paying 35® 36c per lb for butter delivered in Indianapolis. Butterfat —Local dealers are paying 35c per lb for butterfat delivered In Indianapolis. CHICAGO PRODUCE. CHICAGO, May 22.—Butter—Receipts. 19,000 tubs; creamery extras, 34%e; standards, 34%c; firsts, 31®33%c; packing stock, 16®19e. Eggs—Receipts, 80,ICO cases; current receipts, 23®23%c; ordinary firsts, 22®22%c. first*, 24®24%c; extras, 26%®26%c; checks, 20®20%e; dirties, 21®21%c. Live Poultry— Turkeys, 25c: chickens, 26c; springers. 40@48c; roosters, 15c; geese, 22@23c; ducks, 14@.'i0c. CLEVELAND PRODUCE. CLEVELAND, May 22. —Butter—Extras, 40%®41e: prints, 41%@12e; firsts, 59%® 40c: packing stock, 16@18c. Eggs—Fresh, 29%c; Ohio firsts, 25®25%c; western firsts, 25c. Poultry—Live fowl, 27®28a; ■*"*♦*— IQr • >

MAY 22,1922.

lIS. DECIDES (RUSSIA OWNS ( WRANGEL ISLE Will Hold in Trust Until Stable Government Is Established. WASHINGTON, May 22.—Wrangel Island, lying off the coast of Siberia, though claimed for Canada by the Arctic Explorer Stefausson, is iu reality the property of Russia, according to the conclusion reached today by the United States Government following au investigation started some weeks ago by the State Department. Several American vessels visited the island during the last fifty years, including two warships of the American nhvy, but the title of the United States to ownership by right of discovery ,a not clear, the investigation proved. It has been decided to hold the island In trust for the Russian people until such time as a stable Government Is established in Russia. LEGION PLANNING TRIP TO FRANCE Second Annual Pilgrimage to Start July 25. The second pilgrimage to the land of war and red wine—la belle France—is planned by the American Legion for July 25 to Sept. 3, Inclusive. The steamship. President Roosevelt, with a legion captain and a crew entirely of legionnaires, has been tentatively engaged for the trip. The itinerary will cover the old battle* fields which the American doughboy helped make famous through the world. The legionnaires have heard that te shell-pitted stretches of “No Man's Land" have become fields of waving wheat. As many as can pack themselves in the liner will have the chance to see for themselves. The American Legion pilgrimage of a year ago amounted to a triumphant procession through France from Bordeaux to Strasbourg. The Grand Chancellory of the Legion or Honor waa. opened to the legionnaires for a general reception for the first time since Napoleon founded the order in 1802. The national commander of the legion was personally docorated by Marshal Foch. President Mlllerand of France received the legionnaires in state, and Premier Briand delivered the message of welcome when the party was presented with the keys to the elty of Paris. A direct result of this first legion pilgrimage was the formation of a French legion, consolidated on the model of the American Legion from the 145 veterans’ societies In France at that time. Various national officers of the legion will head the present pilgrimage. The expenses are tentatively estimated at $575 per passenger. Whatever surplus remain* after the trip is to go to the legion's trust fund for sick and wounded American veterans.

Insurance Men to Have Convention Agents and officials of the Federal Savings and Insurance Company and the Federal Automobile Insurance Association, with home offices In Indianapolis, are holding their thirty-third anniversary convention at the Hotel Lincoln today, Tuesday and Wednesday, The program today was given over to the Dunlap Club, an organization of those interested in the company, named after President J. R. Dunlap of the company. A business session of the club was to be held at the Lincoln from 2 to 5 o'clock, with President J. A. Gerdon -of the club presiding. At 6:15 o'clock the Dunlap Club dinner will be given, with J. C. Kline as toastmaster and Secretary of State Ed Jackson as the principal speaker. At 8 o'clock this evening initiation and installation of club officers will be held, followed by a radio entertainment. Commerce Worse Soon for Community Hall Work on the now community ball adjoining the Englewood Christian Church, Washington and Rural streets, will be started soon, following ground breaking exercises Sunday afternoon. William Carter and Miss Lizzie Englis, who attended the ground breaking for the original I church twenty-five years ago, dug the first spadeful of earth for the community structure. The building will cost approximately $20,000. $10,375 of which is pledged. It will be two stories high, of brick and stone, measuring 60x120 feet, and will contain a gymnasium and auditorium, the latter to seat 1.300. f O. N. Shirley is chairman of the building committee and Charles Dugrnnut, S. H. Broadhurst, W. T. QuilUn, L. M. Denny, Dr. Homer W. Cox, A. FuUgraff and 11. Johnson, mombara. NINE-YEAR-OLD box drowns. LAFAYETTE, Ind, May 22.— William Garrett, 9, waa drowned while swimming in the WabasM River Sunday. He was the son of Sire. Edith Philips. The body ] was recovered an hour later by William , £*tteS ofc^uSJst 1 * "f® U

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Safes, Filing Cabinets, Desks, Chairs, Filing Supplies 116 S. Pennsylvania SL MAia 0489