Indianapolis Times, Volume 35, Number 44, Indianapolis, Marion County, 1 July 1922 — Page 11

W 1, 1922

lifE EFFECT ■ail STRIKE ■ STOCK LIST &lßPßifßsSort:s Cos •t r. i ' Meaner y,-. • ’ ®tion of Number cf Walking Out. NOT AGITATED li3E3Ri? n of Mexican Debt H me nt Fails to Help Oils. & STOCnS A.AR AC E avenffc! BKB:- .-.••• r- - • ! ■> United rrr" f&.lr'- : .-1 r.k *.• ■••■•- MgfegftM n-uK.'r -r " ■ ■ ggggl* r • • ~ 1 kjf,. Hr- str<. : v -s . this strike. j§j I attendance in brokerage ••■■ on the "• s :<<• :' • •• c. • ry f ' js% .„ a firm i* market sh- ■••• a * ! issue? - Ey HSe2 8 '.^*sl' R debt . . effect on the M.-v- ---%’ seI .. ' than ' > Short Interest SKvdGHwh':.n jßctSMßair. oil st >cks. Th.s class ■-,( bru’ cl' fXsE&MiIS in the situation to - -utrt breaks :r. suck, st ■• ks . .- I of Indiana. Su.ckur and Company. fCSHthe time these stocks were gothis week the ticker was |Hg constructive o:l news '•TT' asL waa : ■ ■ . e gas . which ’.ut r.cat.na < ..s HHk, declining product:- nos peKgK3Kn.n.''. falling off .n la. etc. public has been a heavy tiufeW PC r< 1 - -s f- :----■ mjSK||M>ast and th.s ; •■:•: i- - for attack. ORK ÜBERTY BONDS —July 1— Rith. Low Cieso. close. aCjftflit >,*.!•.<• ■’ i kSSIOP*- 5 K ‘ i '■'■ : • i- 4 - /Slney and exchange &€* .xpoiis hank clearings Saturday BBS3.Tei.OOO. snd for the week sre*36B,ooo; bank debit* 56.821.000 and for the week. 535.024.000. NEW TORS. July I.—Marks continued to drop today. Other foreign exchange was Arm. Closing a* follows: Sterling, 4.42% ©4.42 H. up H : franc*. .0839 © .0830 %. ors .0000% lire. .0480 %ft .0470. unchanged: Belgian. .0797% @.0798. up .0001: marks. .0025%. off 0001% : drachm*. .034 @.036, unchanged: Swiss. .1806©.1898. off .DOOlr guilders. .3880 @3855 up .0003: pesetas. .15610.1563. up .0005: Swedish. .25800.2585. up .0015: Norway. .16850 .1670. up .0020: Danish. .2145©.2150. up .0008.

MOTOR SECURITIES (By Thomson A McKinnon.) —July l Closing Bid. Ask. Earl Motors 3% 4 Packard com 14 14 44 Packard ptd 86 88 Peerless 47 40 Cont. Motors com 8 8 *-4 Coat. Motors pld DO 95 Hupp com 19 19 44 Hupp pfd 105 Reo Motor Car 2844 29 Elgin Motors 2 244 Ford of Canada 385 388 National Motors 3 5 Federal Truck l Paige Motors 22 23 Republic Truck .. 11 1144 ACTIVE OIL STOCKS (By Thomson & McKinnon.) —July 1— Bid. Ask. Anglo-Am. Oil 20% 2144 Atlantic Refining 10 11 Borne-Scrymser 380 400 Chesebrough Mfg. Cons 185 195 I Cont. Oil. Colorado 135 145 I Cosden Oil and Gas 6 38 ■descent Pipe Line. 35 38 Pipe Line. .... .138 145 k Basin Pete 10 44 10 4 Pipe Line 96 93 | Galena-Signal OH, pfd 100 105 I Galena-Signal Oil. com 50 57 ' Illinois Pipe Line 176 175 Indiana Pipe Line 89 92 Merritt Oil 10 10 44 Midwest Oil 244 Midwest Rig 200 National Transit 26 27 New York Transit 165 175 Northern Pipe Line 98 102 Ohio Oil 285 290 Oklahoma P. A R 8 10 Penn.-M ex 35 40 Prairie Oil and Gas 550 560 Prairie Pipe Line 248 253 Sapulpa Rfft 44; 414 Solar Refining 460 480 Southern Pipe Line 93 97 South Penn Oil 217 225 Southwest Penn P. L 62 64 Standard Oil Cos. of Cal ... Standard Oil Cos. of Ind 106 44 106 % Standard Oil Cos. of Kansas. . 740 760 Standard Oil Cos. of Ky 93 44 93 44 Standard Oil Cos. of Neb 185 195 Standard Oil Cos. of N. Y.... 428 433 Standard Oil Cos. of 0hi0....440 460 Swan A Finch 35 45 I’nion Tank Line Vacuum Oil 415 420 Washington Oil 22 28 FINANCIAL. (Concluded from Proceeding Page.) Cooffldeinitial Quick Loams UP TO S3OO. Hu pianos. Yictrolas, household furniture MSJmgaaranteed notes. Loans payah'e in 8 rJfeniiSfcamonthly installments. Legal charges unpaid balance for actual time i*Loans with other companies off afrtSalHore money adTaneed. Hours: 9 to ?(■'attirdavs to 1 p. m. Call, write or ■ 1-6-6 9. lg|neficiaii Loam Society I National City Bank bldg. I LOANS ■ HHPBlture. pianos, autos, live stock. I ■ilemesti and other collateral. E. Waahington St. ■■PITOL LOAN CO. Auto Lincoln 7154. first and second mortgages on farms and Indianapolis real AND INVEST T. CO. Fidelity Trust bldg on rsa •> mortgages flKFO'.'W.W’'*■ FRANK K. SAWVER. -Nhß® Bldg. 307 North PennsylUMLO 61. cord mortgages or. Indiana #HEißiaWiMpe.:> real estate R B tVIL*#S^SS® tlonal '" u> Ba: * hldg. Lln/’/iiJßniiif -n and -r, : !, n '*• A-' v r .R

New York Stocks (By Thomson A MuKinnon.) —July 1—

Prer. High. Low. Close. Close. Railroads Atchison 100 99% 100 100 B. & 0 49% 49 % 49% 49 84 Can. Pacific.. 138% 138% 138% 138% C. & 0 68% 06% 68% 66% C. & N. W. R. 74% 74% 74% 74% C„ R. I. & P. 43% 43% 43% 43% C &G. W.. . 8% 8% 8% 8% Del. & Loeka 122 122 122 Erie 15% 15% 15% 15% Erie Ist pfd. . 23 22% 22% 23% Gt. Nor. pfd. 77% 77% 77% 77% n. Central ..105 105 105 Kan. C. South. 24% 24% 24% 24% Lehigh Valley 64 63% 63% Mo. Pacific . . 21 % 21 % 21 % 21 % Mo. Pac. pfd 53% N. Y Central 04% 94 94 94% N Y N HAH 29% 29% 20% 2954 North. Pac... 74% 74% 74% 74% Pennsylvania. 42% 42 42% 42% Reading 74% 74% 74% 74% So. Ry 23% 28% 23% 23% So. Pac 89% 89 89 89 St Paul 26% 26% 20% 26% St. Paul pfd.. 42% 41% 41% 42% S L & SW pfd 45 % 43 % 45 % 45 % Texas & Pac.. 27% 27% 27% Union Pacific 140 139% 139% 139% Wabash pfd.. 30% 30% 30% 30% West Pacific. 19% 10% 19% Rubbers Ajax Rubber. 15% 15V* 15% 15 Fisk Rubber. 15 15 15 15% Good. Rubber . . ... ... 39 *i* Kel.-Sprgflld .15 % 15 54 15% 15 5“ Key. T. & R. 15% 15% 15% 15% U. S. Rub... 63% 63 63 63% Equipments Amcr. Loco. 112 111 >4 111** 112% Bald. L0c0.114 113% 113% 114 Westgbse. Air 89 89 89 80 Westhse Elec. 58% 58% 68ffi 58% Steels Beth. ••8”... 76% 76 76% 76 Crucible 74 73 74 73% Gulf States.. 77% 76% 77% 77% Midvale 33% 33 33% 33 Penn. S. B. . 9 9 9 9% Rep. I. & S. 70% 70% 70% 71 U. S. Steel.. 99% 99 99% 99% Vanadium . . 45 44 % 44 % 45 Chand. Mot. 70 69% 70 70 Gen. Motors. 14% 14 14% 14 Hupp Motors. 19 % 19 19 % 19 Max. Mot. A. 66% 66 66% 65 Hud. Motors. 21% 21 21% 20% Max. M. B” 23% 23% 23% 23% Martin Perry 31 % 31 % 31 % 30 % Pieree-Arrow 19% 18% 19% 18% Studebaker ..125% 127% 127% 128% Willys-Over... 8% 8% 8% 8% White Motors 38% 48% 48% Minings Butte C. & Q. 6% 6% 6% Butte Superior 28 28 28 27 % Dome Mines. . 28 28 28 28 Int. Nickel .. 16% 16% 16% 10% Coppers Am. Smelt. .. 59 58% 59 58% Anaconda ..51% 50% 61% 51%

Money Market Normalcy Here; Reserve Meets Test

BY WALTER B. BROWN. Editor N'ew York Commercial. (Written for the United News.) NEW YORK, July I.—So far at least as the money market is concerned, a return to normalcy has been accomplished. Rates are about on a 1914 basis before the war cloud appeared. Practically for the first time since the Federal Reserve system was established we are to witness its workings on a normal basis, such as it was intended for when it was framed. The system was barely established before it was called upon to withstand the strain of the World War. and since that time it has had to carry our own war financing and to stand the postwar inflation and then the deflation. Its authors never thought it would be called upon to stand so severe a test, but they budded better than they knew. It has met all requirements. Now it is to be allowed to function as it was first intended, and the country is to feel its benefits. No Seasonal Stringency We have an elastic currency so that we need no longer fear seasonal stringency. as during crop moving time. Bank deposits are increasing, commercial loans are small, and th-i Federal Reserve Is in a position to meet the practically unlimited requirements of ordinary business. As to security values, a great many stocks are back to a normal yield, considered from the pre-war standpoint. while new bond offerings have been heavy but have been readily absorbed, until the yield is falling below what the public idea of investment return is. There is, in consequence, a slower market movement, although without any loss of strength. Business Recovering Business recovery is proceeding apace. Were it not for labor disturbances the outlook would be especially bright, but even so these disturbances are temporary. There has been no change In fundamentals and it can come only from some political upheaval either here or abroad, and while no one can tell what a day may bring forth there is no reason to assume that such conditions will be any worse than they are now. Taking iron and steel as an index, the outlook is still favorable, while the week on June 17 revealed freight car loadings as the highest attained this year. There is no slackening in the automobile industry, or in the rubber and allied industries. In all of these industries there are complaints of shortage of labor, which is rather different IN THE COTTON MARKET NEW YORK, July I.—Cotton opened steady today, off 7 to 18 points, on continued favorable weather reports. July opened at 21.34 c, off 8 points; October, 20.98 c, off 7 points; December, 20.65 c, off 9 points; January, 20.48 c, off 10 points, March, 20.15 c, off 18 points. Trading was dull during the first half-hour, traders apparently awaiting the Government crop report Monday. The American Cotton Association’s report placing the condition of the crop at 70 per cent had little effect on early trading. The cotton mj.rl.e-, ctosed steady, being off 1 to 4 point* after two hour* of fluctuating:. within a narrow range, High. Low. Last. July 21.55 21.38 21.65 October 21.53 21.32 21.48 Dcoember 21.32 21.13 21.28 January 21.06 20.84 21.02 March .20.90 20.80 20.02 May 20.64 20.64 20.64

RAW SUGAR MART NEW YORK, July I.—Raw- sugar opened steady today. July. 2.19 @ 3.23 c; September. [email protected]: December, 3.38<23.40c; March. 3.22 ® 3.34 c. Cuban raw sugar is strong. National Sugar bought 10.000 bags of Cubas for August shipment at 344 cents cost and freight, up 1-16 c; domestic withdrawals for refined sugar 1 cent on previously placed contracts are large and increase in demand is expected if warm weather continues. Export market is somewhat easier with sales of refined from second hands at 4.25 cents to 4.30 cents f. a. e. Raw sugar closed steady. High. Low. Close. De-ember 3.41 3.39 3.41 September 3.35 3.33 3.35 March 3.22 3.22 3.22 WHOLESALE BEEF PRICES The following are today’s wholesale prices for beef cuts as sold by the Indianapolis markets of Swift & Cos.: Ribs — No. 2, 18 c; No. 3, 14 c. Loins — No. 2, 23 c; No. 3, 18 c. Rounds — No. 2, 17 c; No. 3. 16 c. Chucks — No. 2, 11 c; Plates —No. X7c; No. 3,6 c.

r x Prev. High. Low. Close, close. Chile Copper . 21 % 20 % 21 20 % Inspiration . . 39 % 39 % 39 % 40 % Kennescott . . 33 % 38 % 83 % 33 % Utah Copper. 63% 63 63% 62% Ray Cons... 16% 16% 16% 16% Oils Cal. Petrol. . . 61 % 61 % 61 % 61 % Cosden 4% 45 45 46% Houston Oil. . 76 76 76 75 Invincible Oil 15 14% 15 Hex. Petrol. .177% 176% 176 176% Mid. 8. Oil.. 13% 13% 13% 13% Okla. Pro. ..3% 33 3 Pan-A. Petrol. 78 % 77 77 77% Pacific Oil .. 55 % 64 % 64 % 55 Pierce Oil . . 8 8 8 7 % Pro. and Ref 43 41% 41% 42% Pure Oil 30 30% 30% 30% Royal Dutch 59 59 69 50 8 O. of Ca1..103% 103% 103% 102% St. Oil. N. J.lßl 181 181 181 Sinclair 32% 81% 32 31% Texas Cos 47% 46% 47% 47% Tex. C. * O. 27 27 37 26% Tr.-Cont. Oil. 14% 18% 14% 14% Union Oil . . . 21 20% 21 20% White Oil .. 8% 8 8 8 Industrial* Al. Cbem... 68 67% 68 67% Am. Can ... 46% 40% 46% 46% Am. Ice 104*% 104% 104% 104% Am. Saf. Raz. 6% 5% 5% ... Cocoa-Cola .. 72% 70 71% 69% Fam.-Play. .80% 80% 80% 81% Gen. Asphalt 66 05% 05% 64% Int. Harv. . .102 102 102 May Stores.. 115% 115% 1t5% ... Mont A Ward 22% 22% 22% 22% Pitts. Coal.. 64% 64 64 64% U. S. Ret St. 65% 65% 65% 65% US Cast I. P. 31 30% 31 30% Va. Chem. . 30% 30% 30% A. Tel & Tei.120% 120% 120% 120% B. Rapid T.. 28% 28 28 28% Con. Oas ...115% 114% 115% 115 P. G. & Elec. 68% 68% 08% West. Union 97% 97% 97% 96% SHIPPING. A. Int. Corp. 41% 41% 41% 43 Am. 8. & C.. 21% 20% 20% 20% At. Gulf ... 38 38 88 37% In. M. M pfd. 72 72 72 73% United F. .. .139% 139% 139% 139% FOODS. Aust. Nichols 27% 27% 27% 27 A. Cotton O. 26% 20% 26% 20% Corn Prod. .104 104 104 104% C C. Sugar .10% 10 16% 18 C. Am. Sugar 23% 23% 23% 23% TOBACCOS. A.-Sumatra .39% 39% 39% 40 A Tob. Cos.. 140% 138% 140% 141 Tob. Prod. ... 80 80 80 79 % MISCELLANEOUS STOCKS. Alaska Gold % % 1% Tenn. Cop. . 10% 10% 10% 10% Reynold* S. . 45 45 45 44 % Perre Mara. - 31% 31% 31% 31% Callahan ... 8% 8% 8% 7% Elee S. B. .. 43 42 % 43 42%

from conditions prevailing a few months ago. This recovery of the demand for labor has naturally put an end to further wage reductions in these industries, but this renewed activity is based on wage scales already reduced which have made it possible to so reduce the prices of the various products to the consumer or user as to stimulate the demand. Production costs were too high. As soon as they were reduced in conformity with the general deflation the buyers' strike was at an end. Wages Much Deflated XV iges have been pretty well deflated in all industries except railways, coal and some of the textiles, but with the reductions that have taken place they are not down, generally speaking, to a pre-war basis. It la a grave question as to whether this is desirable. Wages should be as high as production costs will permit and the principle is being recog nized that well-paid labor means an increitsed buying power that reacts upon Industry. The difficulty Is to find that exact point where wages are neither too high nor too low in relation to selling prices. It might be said that to increase wages would Increase the buying power and so stimulate industry' as to make it possible to pay the Increased wages, but unfortunately this theory has Its limitations. Because there is a large part of the community whose buying power is determined by fixed incomes or by Incomes derived from other than manual labor. It Is this average buying power that has to be reckoned with In determining selling prices. Danger in Municipal Bonds One of the outstanding features in recent developments is the extravagant Issue of municipal bonds. They are easy to float because of their tax-exempt and because capital Is cheap. They are usually' considered safe because capital Is cheap. They are usually considered safe because they are backed by the taxing power of the municipality. Abuses are likely to creep in, however, and. In fact, are creeping In one of the most serious being the burden placed upon other bondholders and upon business in general by having to carry the burden of taxes which persons of large wealth are enabled to avoid by Investing in these tax-exempt securities. Only by a constitutional amendment can this matter be corrected, and while there has been some agitation for it, It seems to be languishing. COTTONSEED MARKET NEW YORK. July I.—Cottonseed oil les were 3.900 barrels, the market moving within a narrow range and about unchanged irom yesterday. There were deliveries on contracts and the lard advance of about 10 points helped the market. Cotton wajs easier and selling by Southern Interest* cheeked the advance*. There was selling of October against purchases of November. Cash trade was slow, cotton weather mainly good and crop reports satisfactory. The cottonseed oil market will olose at 12 o'clock on Monday. The Government cotton crop report will be out at 1:80 New York time Monday and will not be a factor In oil until Wednesday. Open. Closing. July [email protected] [email protected] August 11.15 © 28.00 11.10 @24.00 October [email protected] [email protected] November 9.80®51.00 [email protected] December 9.13 @15.00 9.20 @21.00

CHICAGO STOCKS (Thomson A McKinnon) —July 1— Open. High. Low. Close. Arm ACo pfd 97 44 ... ... ... Arm Lth new 85 44 ... ... ... Cudahy .... 63 ... ... ... Com Edison. 130 44 131 130 >4 131 Cont Mot... 8 844 8 844 Earl Mot ... 344 Libby-McNl. . 2 244 2 2 Mont Ward.. 2344 2244 2244 22 44 Pick A Cos.. 26 44 Pig Wig ‘'A" 40 Reo Mot 28 44 29 2844 28% Stew-War ... 43 % Swift A Cos. .100 % 10044 100 100 Swift Inti... 19% Thmpsn (JR) 45 ... ... ... UnCAC... 5444 54% 6444 5444 Wahl 86% Yellow Taxi. 69 CLEVELAND PRODUCE CLEVELAND, June 30.—Butter— Extras In tubs. 42%@43c; prime, 43% @44c: firsts. 40%@41c; packing stocks. 20@2ic. Eggs—Fresh gathered. Northorn extras, 28c; extra firsts, 27c; Ohio, 23%c; Western firsts, new cases, 21c. Poultry—Live heavy fowls, 2S@24c; roosters, 16@16o; spring ducks, 25@ 28c.

THE INDIANAPOLIS TIMES

STREET REGARDS NEWS FAVORABLE FOR LONG PULL Moroy, Industrial and Crop Reports for Week Are Encouraging. CALL FIGURES CLIMB HIGH Rates Compare With Those for Periods of Normal Business Activity. BY R. L. BARNUM. NEW YORK. July I.—Most of this week’s financial, Industrial and crop news from Wall Street's viewpoint was favorable for the long pull. Call money' early and again late in the week climbed as high as 5% per cent, owing to the .rend of the month’s financing, but there was no change in time money. Money rates, as the Bank of Commerce pointed out this week in its review of the month just closed, are now fairly comparable with those periods prior to 1914, when business was proceeding in orderly fashion, free alike from undue speculative activity and from depressing influences. The lack of an elastic currency, which formerly caused a sharp seasonal movement in rates, especially at this time of the year, has been eliminated by the Federal Reserve system,. Bank Deposits Gain. According to this same authority, bank deposits are Increasing, commercial loans are at a low figure, and the reserve facilities of the Federal Reserve system are so ample as to be practically unlimited in relation to any business situation that can arise from ordinary causes. Industrial stability has been more nearly attained in this country during the last thirty days, it was declared, than at any time since the beginning of the World War. This week's news included the official report showing that despite the coal strike there had been a further weekly decrease of 23.000 cars in the number of idle freight cars standing on sidetracks throughout the coun try, and that freight car loadings in creased 15,000 cars for the week to 860,000, the largest figure reported since last October, or at the peak oi the period when the year's crops are being moved and exchanged for merchandise. Coal Production Increases A weekly Increase was reported In the production of coal and coke from the output of non-union mines With the anthracite mines and union organized, soft coal mines are s ill shut down tight. Railway earnings published this week for May were closely watched. The results were spotty, as wero ex pected. Lackawanna, for example, which serves the anthracite mines closed since April 1, reports for May gross of 15,516,000, a decrease of 5778,000, with the loss for the five months 54,332,000. But as a contrast, Norfolk & Western, which 1b hauling coal from the non-union soft coal mines, reported for May gross of 58.994,000, an increase compared with last year of 52,541,000. with the gain for the five months $4,397,000, or practically the same as Lackawanna’s loss.

Before President Harding called his conference of operators and miners at the White House today the best Informed people in the steel trade predicted that the end of the coal strike seemed nearer than at any time in the past thirteen weeks. This view was baaed largely on the increase in production of coal at the non-union mines and on rumors that the Administration at Washington was about to take a hand because a serious situation for next winter was threatened. Wall Street also believed there would be no serious trouble in the railway situation, despite the notice sent early in the week by the labor leaders to the railway executives that the strike would start today unless the executfves refused to carry out the orders of the Railroad Labor Board to reduce wages. Dxtra pay for overtime and the farming out of shop and track work were also sore spots for the men. With confidence that the Administration would stand behind the Railroad Labor Board the public was more interested In railway shares this week than in industrial stocks, the buying in the rails being the best in many weeks if not months. Conditions Are Improved Practically ail of the reports for last month called attention to the general improved industrial condition. The National City Bank says that its investigation shows that conditions have so improved that the amount of unemployment during the past month has been small. It was stated that while the iron and steel industry has been operating at above 75 per cent of. capacity, this means practically full employment for available labor. It was pointed out that agents from the North had been recruiting negro labor from the Southern iron centers. In its review, the Iron Age predicted that the labor costs, which had been increased partly because of the higher cost of fuel, resulting from the coal strike, would remain high because the building trade, the railway car builders and manufacturers of automobiles were all bidding against each other and the steel trade for labor. One exception to the optimiotic opinions expressed in this week's monthtly reviews by bankers came from the Cleveland Federal Reserve Bank. This authority stated that the tone of the replies just received from correspondents was not as assuring as those of thirty days ago. One correspondent was quoted as saying; "It is possible that business has resumed too quickly to squeeze out the uneconomical methods of doing business and that while we are all anxious to see business come back as quickly as possible there may be such a thing that it is coming back on a more unsound basis than would be advisable.” “There is nothing alarming in the situation, but there are certain tendencies which will bear careful watching. First, thsre is a tendency in certain industries for increased cost of production to parallel increased

production. We cannot hope to see the rapidly increasing. production cost go forward without unpleasant results later. “A second disturbing element is the evidences of over-production in certain manufactured products. The | large facilities occasioned by war-time expansion are a constant encouragement to over production. “A third element is the persistent report of labor shortage together with the returning evil of bonuses and the offering of premiums.” One corporation correspondents says: “A few weeks ago I would not have thought it possible that a labor shortage would be here by the middle of the summer, but such a shortage seems to be right in sight. If labor demands war-time wages and if the producer of raw materials, the manufacturer, the wholesaler and the retailer each in turn add a margin for their share of the work there is a possibility of quick inflation which will throw us out of balance and bring to a premature end the prosperity we have all been striving for.” One other factor might be added. The price of finished goods are not being advanced as easily as the price of raw materials going into them because the public is refusing to follow price advances. This means smaller profits. HOGS LOWER AT CHICAGO Heavy Receipts Cause Drop of Prices; Sheep and Cattle Hold Steady. Ry United Pre*s CHICAGO, July I.—Hogs sold 10# 20 cents lower at Chicago stockyards today. Receipts were 10,000 and holdovers 11,000. The large supply coupled with shipments of more than 3,000 hogs to big packers direct caused the decline. The total supply of hogs at the ten big markets was 59,900, compared with 45,500 a week ago. Cattle receipts were 1,000. The market was steady. Trade differed little from the usual Saturday market. No good steers were in the pens and buyers were slow In taking hold. Sheep receipts were 4,000 and the market steady. Total supply for the ten principal markets was 8,000, w'hieh Is about the same figure as a week ago. INDIANAPOLIS STOCKS —July 1— Stocks Bid. Ask. Ind. Ry. A Light com 57 ... Ind. Ry. A Light pld 84% 89% Indpls. St. Ry 42 47 Initpis. N. W. pfd 49 Ir.dpls. & 3. E. ptd 60 IT. H., T. & L. pld 76 T. H„ I. A E. com 1 6 IT. H„ 1. &. E. ptd 2% ... U. T. of Ind. com 3 i U. T. of Ind. Ist pfd. 9% 14 U. T. of hid. 2d pld 1 6 Advancs-Rumcly ptd ... Advonce-Rumely com ... Am. Central Lite 200 ... Am. Creosotinr ptd 04 ... •Belt D. R. com 56% ... •Belt R R. ptd 60 ... Ciiitury Bldg. Cos. ptd. ...... 04 ... Citizens Gas Cos 20 . . . City Service com 217% 220% City Service Cos. ptd 00 08 Dodge Mfg pfd ... Home Brewing 55 ... Ind. Hotel com 88 ... •Ind. Hotel Cos. pfd 07% ... Ind. Nat). Lite Ins. Cos 2 ... Ind. Title Guarantee 50 ... Ind Pipe Lines 88 ... Indpl*. Abattoir pfd 45 ... •Indpls. Gas 44 ... Indpls. Tel. pfd 00 ludpls.Tel.com 2 ... Her. Pub. Util, pfd 60 ... Nat l. Motor Cur Cos 2% 6 Pub. Savings In*. Cos. 6 ... RauU Fert. ptd 49 ... Standard Gil of Indiana ... 102 ... Sterling Fire Insurance Cos ... 7% ... Van Camp Hdw pfd 90 ... Van Camp Prod. Ist ptd ... 97 100 Van Camp Prod. 2d ptd 100 Vandal)a Coal Cos. com 1 ... Vandalin Coat Cos. pfd 7 12 Wabash Ky. ptd 29% 33 Wabash lty. com —. . 12 15% Bonds Broad Ripple 5s 62 % ... Citizens St. R. R. 5s 82% 80 Indian Creek Coai & Mines 0s . 100 Ind Coke & Gas 6s 86% 90 Indpls. C. & S. 5s 92 ... Indpls. A Martinsville 6s. ... . 61 % ... Indpis Northern 5s 40% ... Indpls. St. Ry. 4s 05 67% Inctpis. & N. W. 6s 55 58 Indpls & 8. E. 5s 40 ... Indpls.. Shelby & 8. E. 55.... 65 ... T. H.I.A E. 5s 04% ... Citizens Gas 5s 85% 87% IndpU Gas 6s 85% 87 Kokomo. M. AW, 51. ...... .88 % 94 hid Hotel Cos. 6 : 99% ... Indpls. Water 5s 96% 97% Indpls Water 4%s 81 85 Indpls. T. A T. 5s 82% 85 Indpls. L A 11. qs 01% 03 iU. T. of Ind. ba 69% 02% Mer. H. AL. 6s 99% ... New Tel. L. I). 5 97 ... New Tel. Is. 6s 97 South. Ind. Power 6 86% 91% •Ex-dividend.

THE WEATHER The followinr table shows the state of the weather at 7 a. m.. July 1. as obsorveU by United States weather bureaus: Station. Bar. Temp. Weather. Indianapolis. Ind. .20.91 74 Cloudy Atlanta, (is 30,08 76 Clear Amarillo. Texas ...29.90 64 Cloudy Bismarck N. D.. . .30.06 56 Clear Boston. Mass 30.04 76 Cloudy Chicago, IU 20.84 76 Clear Cincinnati. Ohio ...29.96 78 PtCldy Clveland, Ohio ~.,29.86 70 Cloudy Denver, Colo 30,12 56 Cloudy Dodge City. Kaa 29.02 * 70 Clear Helena, Mont 30.02 66 Cloudy Jacksonville. Fla. ..30.10 80 Clear Kansas City, Mo. .. .20.96 72 Rain Louisville. Ky 29.08 78 Clear Little Rock. Ark... 30.00 74 Clear Los Angeles. Ca 1.... .29.94 68 Cloudy Mobile. Al* 30.10 80 Clear New Orleans, La.. . .30.06 80 Clear New York. N. Y.... 30.02 70 Cloudy Norfolk, Va 30.02 80 Clear Oklahoma City 29.02 78 Cloudy Omaha. Neb 29.00 70 Clear Philadelphia. Pa. ..30.00 74 Cloudy Pittsburgh. Pa 29.04 78 Cloudy Portland. Ore 30.10 62 Clear Rapid City. 3. I' 30.70 68 PtCldy Roseburg, Ore. . . .30.08 52 Clear Sau Antonio. Texa5.29.96 76 PtCldy San Francisco. Ca1..20.02 52 Cloudy St. Louis. Mo 29.94 74 Clear St. Paul. Minn 29.92 56 Cloudy Tampa. Fla 80.10 80 Clear Washington, D. 0.. .29.98 80 PtCldy WEATHER CONDITIONS filnre Friday morning unsettled weather with shower* and thunder storms In many localities hits prevailed over much of the interior from the middle Ho ky Mountain States lo the Great Lake*. Some showers, also, havo occurred In the Southeast. It Is a little warmer In the eastern highland reSlon, and a Utile cooler from the middle llssissippl Valley westward to the Rookies, but the temperature changes, as a rule, have not been decided over large areas. Warm weather prevails In eastern and southern sections, but the readings are u little below normal in the far Northwest. CORN AND WHEAT BULLETIN For the twenty-four hour* ending at 7 a. m„ Saturday, July 1. 1923: Temperature la- o Stations of tj *■£ Indianapolis !!t) District J’g Sg a-gL: i o o'o jisj; SS, Cm £XL o ® South Bend 88 69 0.06 I Good" Angola 87 68 0.10 j Good Ft. Wayne 84 68 0.72 L Wheat field 90 70 0.03 [ Good Royal Center ~.. 88 68 0.44 { Good Marion 80 71 0 Good Lafayette ....... 87 70 0.15 Good Farmland ....... 90 70 0 Good Indianapolis 88 72 0.04 Good Cambridge City... 88 |7O 0.09 Good Terte Haute 88 j 72 0.70 Bloomington .... 90 {67 0.03 Good Columbus . 94 |6B | 0 Good Vincennes ! 97 ! 69 | 0.25 | Soft Paoli [9o| 70 | 0 | Good Evansville | 94 | 72 | 0.10 | J. H. ARMfNOTON. Meteorologist. Weather Bureau.

CHICAGO CLOSE SMS GRAINS IK WE RISE Continued Reports of Black Rust and Poor Crops Responsible. By United Press CHICAGO, July 1. —Grain prices were higher at the close of the Chicago Board of Trade today. Wheat led the market with short coverings boosting prices 1%@2%,c. Continued reports of black rust and poor thrashing returns in the Southwest. were the main factors in the advances. Oats was higher, mostly in sym pathy with other markets. Heavy export demand with reports of advances in the Liverpool market caused corn prices to advance fractionally. Provisions were higher. July wheat opened up %c at $1.15 and closed up 2%c. September whe,at up %c at $1.36% and closed up l%c. December wheat unchanged at $1.18% and closed up l%c. July corn opened up %c at 62%0 and closed up lc. September corn opened up %c at 66%c and closed up %c. December corn up %c at 66%c and closed up %c. July oats opened up %c at 35%c and closed up Vc. September oats opened up %c at 38<%c and closed up %c. December oats opened unchanged at 41 %c and closed up %c. CHICAGO GRAIN TABLE —July 1— WHEAT— Open. High. Low. Close. July... 1.15 1.17% 1.14% 1.17% Sept... 1.10% 1.18 1.15% 117 % De 0..., 1.18% 1.20% 1.18% 1.20% CORN— July... .62% .63% .62% .63% Sept... 66% .66% .60 .66% Dec,... .60% .60% .05% .68% OATS— July... .86% .36% .85% .38% Sept. ~ .38% .30% -38% .39 Dec 41 % .42 % .41 % .42 LARD— July... 11.25 11.87 11.25 11.32 Sept... 11.55 11.03 11.62 11.57 RIBS — •July.. U9O •Sept... ..... 11.62 RYE— July... .85% .87 .85% .86% Sept... .80% .87% .86% JS7 % •Nominal. LIVERPOOL GRAIN —July 1— WHEAT — Open. High. Close. July 10e0% and 10*9 %<1 10*9 %and September ...10*6%d 10*0%d 106%<i CORN— July B*3 %and B*4d B*4d CHICAGO CASH CRAIN CHICAGO. July I.—Wheat No. 3 red. 91.15%: No. 2 hard, 51.18. Corn—No. 2 yellow. 64c: No. 4 yellow. 03o; No. 2 mixed. 63 %e: No. 3 mixed. 03%c: No. 0 mixed. Ole; No. 2 white. 04c: No. 3 white. 63%c; No 4 w hite. 62 %C. Oats—No 3 white 37 tic: No. 4 white. 35 %c. Timothy—Cash. $4 @5. Clover seed—Cash. 810© 18. TOLEDO CRAIN PRICES TOLEDO, July 1 Wheat Cash, 81221%: July 81.19% September. 8120%: December 81.23. Corn —Cash. 70c. Oat*—. Cash. 44c. Rye—Cash, BCe. Barley—Cash. 07c Clover seed—Cun. sl3: October, $11: December $lO 90 Timothy—Cash. $2.85; September. $3.05; October, $3. Alsike— Cash and October. $11.75; December, $11.35.

ST. LOUIS CRAIN ST. LOUIS. July I.—Grain opening— Wheat —July. $1.12%; @114.%. Corn—July. 61 %c; September, 6a% @ooHc. KANSAS CITY CRAIN KANSAS CITY. July I.—Grain opening: Wheat—July. $1.07 % @ 1.08; September. SI.OB % @I.OBT*. INDIANAPOLIS CASH CRAIN —July 1— Bids for ear lot* of grain and hay at the call of the Indianapolis Board of Trade 1 Wheat —Firm; No. £ red. $1.06® 1.08. Corn —Firm; No. 3 white. 60@&ic: No. 4 white 55@50c: No. 3 yellow. 50@67c: No. 4 yellow, 05@66c; No 3 mixed. 66@50%0: No, 4 mixed, 55© 55 %e. Oat* —Firm: No. 2 white, 30%@36c: No 3 white, 34%@35c. Hay—Weak: No. 1 timothy, [email protected]: No. & timothy. $lO% 16.60; No. 1 light clover mixed, sls® 15.50; No. 1 clover hay, $14.50® 16. —lnspection a. — Wheat—No. 2 red. now, 1 car; sample, 2 ears. Total, 3 car*. Corn—No. 3 white. 1 car: No. 4 white, 2 cars: No. 5 white. 2 cars; No. 8 white, 3 cars; No. 3 yellow, 2 cars No. 4 yellow, 4 ears: No. 5 yellow. 0 cars; No. 6 yellow. 5 cars; No. 3 mixed, 3 cars: No. 4 mixed, 3 cars; sample mixed, 1 ear. Total, Oats—No. 2 white, 3 cars; No. 3 white. 0 car*: No. 4 white, 6 cars; sample white. 1 car; No. 3 mixed, 1 car. Total, 20 cars. Total number of cars for day. 54. Grain prices quoted F. O. B. basis 41%c rate to New York. PRIMARY MARKETS lßy Thomson & McKinnon) —July 1— RECEIPTS Wheat. Corn. Oats. Chicago 53.000 475.000 129.000 Milwaukee ... 4,000 73.000 61.000 Minneapolis ..149,000 60,000 75,000 Duluth 1 218.000 31.000 17.000 St. Louis 71,000 112,000 78,000 Toledo 3.000 1.000 10,000 Detroit 4,000 4.000 6,000 Kansas City . . 95,000 45.000 12.000 Peoria 4.00 66,000 58.000 Omaha 19.000 122.000 74.000 Indianapolis . 10.000 30,000 36,000 Total* 544.000 1.104.000 672,000 Year ago, holiday. SHIPMENTS Chicago 270.000 21,000 106,000 Milwaukee .. . 1,000 18.000 15.000 Minneapolis .. 73,000 40,000 09.000 Duluth 2,000 21.000 St, Louie 87.000 35,000 50,000 Toledo 1.000 7,000 2,000 t 2.000 Kansas City ..223.000 46,000 14,000 Peoria 1.000 35.000 20,000 Omaha 70.000 94,000 40,000 Indianapolis 16,000 Totals ....679,000 356.000 380.000 Year ago, holiday. CLEARANCES Baltimore ... 130,000 - 180,000 20.000 Totals 136.000 180,000 20,000 Year ago, holiday. BOARD OF TRADE REPORT The weekly statement of the Indianapolis Board of Trade showing the output of our by local mills. Inspections for the week and and stock instore, follows: Comparative Statement. —Output of Flour— July 1, 1922 9,133 bbls. June 24, 1922... 7,500 bbls. July 2, 1921 4.074 bbls. July 3, 1930 6,052 bbls. —lnspections for Week.— Wheat 22,444- bu. Corn 251,000-127,000 Oats 142,000- 48,000 Rye - 1,400 Slock in Store Date. Wheat. Corn. Oats. Rye. July 1, 1922.62,000 352,000 227.000 July 2. 1921.39,420 355,040 284.280 1,000 July 3. 1920.60,118 496.260 65,480 1,920 HAY MARKET Tha following are the Indianapolis prices for hay, by the wagon load, delivered in Indianapolis: Hay Loose timothy, $lB @2O; mixed hay, $18@19; baled hay, $lB @l9. Oats—New, per bushel, 42@46c. Corn —Both old and new, per bushe . 63 @ 68c.

BONDS MOVE FAIRLY WELL In Face of Holiday Market Shows Active Trading Today. By United Press NEW YORK, July I.—Considering It was a Saturday before what will be for many a double holiday the bond market was fairly active today. Mexican bonds reacted slightly on the news that President Obregon.had accepted the Mexican debt settlement Liberties acted well. also, fourth 4% bettering yesterday’s high, when they went to 100.32 Rail bond* were steady. Total sales $7,034,000. against $10,805,000 yesterday. $6,437,000 a week ago and holiday a year ago. HOLIDAY QUIETS N. Y. CURB Reo Motors Advance After 100 Per Cent Dividend Is Declared. By United Press NEW YORK, July I.—With t any traders anticipating the Fourth of July holiday, the curb maiket was a dull affair today. There were no major trends except In Reo Motors, which advanced on the declaration of a 100 per cent dividend. The close w r as irregular. Oils generally were off a fraction at the close. Independence Lead W'as active among the mining stocks. INDIANAPOLIS PRODUCE Eggs—Fresh, 18 @ 19c. Butter— Packing stock, 17@18c. Poultry— Fowls, 16#21c; leghorn fowls, 15c; broilers, 1% to ib. size, 36c; broilers under 1% lbs., 32c; leghorn broilers at discount: cocks, 12c; stags, 12c; young hen turks. 8 lbs. and up, 2Sc; old tom turks, 23c; young tom turks, 12 lbs. up, 28c; cull thin turkeys not wanted; ducks, 4 lbs. and up, 1516 c; geese, 10 lbs. and up, 12c; squabs, 11 lbs. to dozen, [email protected]; old guineas, per dozen, 8. Butter —Local dealers are paying 35 @3 6c per lb. for butter delivered in Indianapolis. Butterfat —Local dealers are paying 35c per lb. for butterfat delivered in Indianapolis. NEW YORK COFFEE NEW YORK. July I.—Coffee opened steady today; July. f).930 bid: September, 9.74 e bid: December. 9.60 c bid; March. 9.47 c: May. 9.40 ©9.44c. Coffee closed steady. High. Low. Close. September 9.78 9.74 9.78 December 0.60 9.60 9.60 March 9 50 9.47 0.47 May 9.53 9.53 9.53 WAGON WHEAT PRICES Local mills and elevators today are paying $1 for new No. 2 red winter wheat. They are paying 33c for new No. 2 white oats. MARRIAGE LICENSES Clarence W. Lapp. 610 E. New York St_ Clara Sandelia, 610 E. New York St. Hobart W. Atchison, 856 Lincoln St, Pauline Wood. 60 Whittier PI. Robert L. Dunda*. Linden Hotel. Madalene C. Benitlv 2212 8. Meridian St. Arthur J Wilkie. Hotel Edward: Isabella L. Smith, 3635 Hemlock St. John Alexander, Chicago; Priscilla M. Roberts, 8051 N. Illinois Bt. Axnos G. Millard, 2026 Broadway: Eliza both 8. Dashleil. 1720 N. Capitol Ave.

BIRTHS Frank and Minnie Cahlik. 1037 S. Alabama. boy. Albert, and Selma Strohmeyer. 1128 Bacon, girl. Roacoe and Ladle Wyooff. 1702 S. Belmont. girl. Herman and Verna Gerlock. 1515 Shepard. girl. Orley and Nora Swope. 1449 Madison, girl. Jeaee and Marie Baker. 1418 McLain, boy. Harry and Margaret Ent, 4110 E. Michigan. boy. Martin and Alice Young. Holt road. boy. George and Irene Snyder. Methodist Hospital .boy. Louis and Ruth Levy, Methodist Hospital, girl. Roecoe and Alice Rlegner, Methodist Hospital. girl. Martin and Doris Shane Methodist Hospital, girl. Louis and Anns Goseert, Methodist Hospital. girl. Harry and Beatrice Hobbs, city hospital, boy. Fred and Minnie Fero. city hospital, girl. Charles and Daisy Yerbarg. 838 N. East, boy. William and Nana Henderson. Ward's Sanitarium, girl. Frank and Hattie McQraw, 610 N. Noble. boy. Roy and itonnie Richards. 826 Dorman, boy. Leonard and Edwina Dbtl*, 900 W. Michigan. boy. Harrison and Mary Bucking. 525 W. Sixteenth, boy. Jesse and Blanche Wall, 516 S. Missouri, girl. Frederick and Della Sommers, 620 N. Illinois, boy. Solomon and Bessie Levin. St. Vincent’s Hospital, boy. John and Elizabeth Binlord. St. Vincent'* Hospital, boy. Elmer and Jessie Ostermeyer, 4015 E. Michigan, boy. Joseph and Francis Turk. 770 Arnolds, boy. Joseph and Josephine Zunk, 2803 W. Tenth, boy. Russell and Ola Graham. 905 Villa, boy. DEATHS Anna M. Nelson. 88, 1731 N. Capitol acute enteritis. Jennie Atrldge. 79. Central Indiana Hospital. chronic myocarditis. Sarah E. Hill. 80. 1302 N. Capitol, chronic gastritis. DeLester Eddy. 70, 3311 Broadway, leukemia George Weaver. 75, city hospital, cerebral hemorrhage. Joseph Smith. 00, 939 S. Senate, arterio sclerosis. Edward E. Nard, 10 months, 1149 S. West, inanition. Aaron J. Smith, 06, St. Vincent’s Hospital, septicaemia. Frank W. Snyder. 42, 268 Parkview, intussusception. Sarah Jane Banks, 83, 935 Camp, apoplexy. BUILDING PERMITS T. R. Barnard, double, 046 N. Dearborn. $6,500. James Zacharias, addition. 318 E. Market, S7OO. Raymond Boehm, remodal, 405-8 N. Pine. S3OO. J. L. Whitlock, remodel, 2610 W. Washingon, $l5O. Matthew Wright, repairs. 4628 Carrollton, $l5O. J. E. Karus. addition, 5432-34 Julian, $4,000. D. Pierce, repairs. 46 N. Pennsylvania, $1,200. John B. Long, repairs, 406-8 N. West, $1,200. Otto Kuehrmann, garage. 405 E. McCarty, SBOO. J. L. Whitlock, remodel, 3610 W. Washington. $l5O. A. B. Hopping, garage, 1150 W. ThirtyFifth, S2OO. Stater* of the Good Shepard, addition. 111 W. Raymond, $20,000. W. E. Milner, garage, 2235 Brookside, $435. C. Bergman, garage, 3921 N. Pennsylvania. $250. 11. W. Splvay, dwelling, 5140 E. North, $3,875. Mrs. J. E. 3ryant, garage. 3052 N. 'New Jersey, $4lO. Maud Searcy, remodel, 642 Arbor, $l5O. Three Stay on Job LOGAN9PORT, Ind., July I.—Fifteen hundred Pennsylvania Railroad shopmen walked out at 10 o’clock this morning. Headed by workers in automobiles, the men formed In line and marched to union headquarters through the business section of the city. Three men are reported to have remained on the job.

SWINE PRICES HOLD STEADY; RECEIPTS LIGHT Trading on Local Mart Active, With Little Meat Shipping. RANGE OP HOG PRICES. Good Good Good July mixed. heavy. light. 24. $10,70-10.80 $10.65-10-70 SIO.BO-19.90 26 10.90-11.00 10.85-10.90 1150-11.10 27. 10.70-10.80 10.65-10.75 10.85-10.90 28. 10.80-10.90 10.70-10.80 10.90-1150 29. 10.95-11 10 10.85-10.90 11.00-11.16 80. 10.85-10.95 10.75-10.85 10.95-11.10 1 10.85-1055 10.75-10.90 1055-1155-With receipts light at 4,000, swine prices were generally steady in trading on the local live stock exchange today. Trading was active, and practically all receipts had been sold at an early hour in the forenoon. There was an extreme top of $11.05 on light swine, while the bulk of that! grade brought sll. Mixed and mediums brought [email protected], and heavies $10.75 @10.85. Pigs sold at the price of the leads and down, roughs at $9.75 and down and stags at $9,50 and down. The bulk of the sales for the day were made at $10.85@11. Packers were the principal buyers of hogs, but shipping was fairly active. Cattle values ruled steady, with receipts extremely light at 100, the quality fair to good and speculators the only active buyers. Veal prices also ruled steady. Receipts were light at 300, the quality good and the shipping demand fair. Both sheep and lamb prices were steady. Receipts ran close to 100. The quality was fair and the demand good. —Hogs—--100 to 150 bl*. average ..SIOS. @ 11.06 Over 300 lbs 10.75 150 to 300 lb* l f '‘s Best pig*, under 140 1b5..... [email protected] Top 1150 Rough* 9225® 9.50 Bulk of sale* 10.85@ ILOO Stags ................ v . 750 @ 850 Few choice steers 950® 955 Prime corn-fed steer*. LOCO to 1,300 lbs 750 @ 850 Good to choice steer*. LOOO to 1,800 lb* 7.25® 750 Good to choice steer*, 1.100 to 1,200 lbs 750® 7235 Good to choice steer*. LOGO to 1.100 lbs 6.75® 750 Ccnxmon to medium steer*. 800 to 1,000 lbs 6225® 6.76 —Cows and He If ers— Few choice heifers ........ 8.75® #-35 Good to choice hellers ...... 7.85® S-35 Medium hellers 755® 7-S5 Common to medium heifer* .. 6.00® 7A’6 Good to choice cow* ........ 5.85® 6.3 k Common to good cow* 350® 5.6(X Calmer* .................. 2.50® 3.50 \ Cutter* ................... 255 @ 3226 | —Bolls— Fancy butcher bull* 5.26 ® 550 Good to choice butcher bull*.. 650® 5.25 Boiogna bull* 350® 3.76 Light bologna bull* 3.00® 3.25 Light common bulls ........ 3.00® 350 —Calve*— Choice veal* 850® 950 Good veals ................ 850® 8.60 Medium Teal* 7.00® 8.00 Lightweight Teal* 6.00® 650 Heavyweight veals ......... 650@ 650 Fair to medium 650® 750 —Stockers and Feeder*— Good to choice *teer* under 800 lb*. 5226® 750 Medium cow* 350® 3.75 Good cow* 4.00® 4.65 Good heifers 6.00® 750 Medium to good heifer* 450® 5.75 Milch cows and springers 3550@8550 —oheep and Lamb*— Cull ewe* 150® 2.00 Good to choice ewes ....... 2.00 ® 450 Bucks 2.00® 350 Yearling* 6.00® 650 Springers 8.00 @12.00 Culls 550® 750

OTHER LIVESTOCK CHICAGO. July I.—Hogs—Receipts, 10.000; market, 10@20e lower; top. $10.75; bulk of sales. [email protected]; heavy weight, $10.35®10.65; medium weight. $10.50® 10.65: light weight. $10.60@ 10.70; light lights. 510.25® 10.60; heavy packing sows. $0'U.9.60; packing sows rough. $8.76® 9.10; pigs. $9.30® 10.30. Cattle—Receipts. 1.000: market, steady; choice and prime. [email protected]: medium and good. [email protected]: common, s7@B-15; good and ehoiee, $8.73 @9.00; common and medium, [email protected]: butcher cattle and heifers, $5.60 @8.80; ccws. [email protected]: bulls. [email protected]: canners, cutters, cows and heifer*. $2.65 @4: canner steers, $3.60®4; veal calves, $750 @0; feeder steers, [email protected]; stocke* steers. $t 76 @7.65; Stocker cows and heifors. $3.25 @5.75. Sheep—Receipts. 4.000: market, steady: lambs. $12.25 013.50; lambs, cull and common. $6.50 @ 11.75; yeurling wethers. $8.75 @11.75: ewes. s4® 750: cull tc common ewes. [email protected]. EAST ST. LOUIS. July I.—Cattle—Receipts. 3,000; market, steady at yesterday's average. Hogs—Receipts. 5.000; market, 13®25c lower; mixed and butchers, SIOSO @10.70: good to heavy, 510235@1050; rough, $7.5008.90; light. $10.60@ 10.80; pigs. [email protected]; bulk, $10.50 010.70. Sheep—Receipts. 5.000: market, steady: ewes. $3.09 06.00; canner* and choppers, $1.50@250; wool lambs, $12.00015.00. KANSAS CITY. July I.—Hogs—Receipts. 1,200: market, [email protected] lower: bulk, $10.30 @ 10.oO: heavies, $10.00010.35; butcher*. [email protected]; lights, $10.40@1050; pigs, $9.50010.50. Cattle—Receipts, 300: market, steady: prime fed steers, [email protected]: plain to fair dressed beef steers. $7.65 @850: western steers. $7.35 @9.45; southern steers. [email protected]; cows, [email protected]: heifers, [email protected]: Stockers and feeder*. $4.25® 755; bulls. [email protected]; calvea, $450 @9.00. • Sheep—Receipts, none: market, nominal: lambs, $11.00012.05: yearling*. $8.50® 10.25: wethers. [email protected]; ewes. sßmo ® 10.00. CLEVELAND. July I.—Hors —Receipts. I, market. slo@loe lower; Yorker*. $11.40; mixed $11.35011.40; medium*. [email protected]; roughs, $8.75: tag, $556. Cattle— Receipts. 600: market slow; good to choice bulls. $5.25 @6.25; good to choice steers, [email protected]; good to choice heifers. $0.75 @7.75; good to choice cows, $4.75@ 6.05: fuir to good cows. [email protected]: common cow*. [email protected]: milchars, $36@76. 81eep and lambs—Receipts, 500: market, slow; top. sl3, Calves—Receipts: 300: market dull: top. sll. EAST BUFFALO. July I.—Cattle—Receipts 300; market, dull; shipping steers. $8.75@10: butcher grades. [email protected]; cows. $25006. Calves—Receipts. 650: market, slow; yearlings 50c lower: culls to choice. s3@lo. Sheep and lambs—Receipts. 200: market, slow 50c lower: choice lambs. sl2 @l3: cull to fair, s6® 11. yearlings, $609.60: sheep. $3@750. Hogs—Receipts. 4.000; market, slow to 30® 35c lower: yorkers, $11.25; pigs. $11.25; mixed. $11.10011.25; heavies [email protected]; roughs. $S@9; stags. S6 @O. PITTSBURGH. July I.—Cattle—Receipts. 100: market, steady; choice, $9.50®10: prime. [email protected]: good. $8.50@9; tidy butchers, $8.5009.25; fair, $6.50 0750; common. $6 @650; common to rood fat cows, [email protected]; common to good fat bulls. [email protected]; heifers, s6@B; fresh cows and springers. $35 @75; veal calvea, $10; heavy and thin calves, $0 @B. Sheep and lamb*—Receipts, 500; market. steady: prime wether. $6.50@7: good mixed, $5.50 @6: fair mixed. [email protected]; culls and commons, sl@3; lambs, $12.50. Hogs— Receipts, 2.000: market, Oo higher; prime heavy hors. sll.lO @ 11.15; medium, $11.40 @11.45; heavy yorkers, [email protected]; light. $11.40@150; pigs, |U.4O@LL*O; roughs, $8 @8.75; stags. $5 @5.25. HARDING SIGNS NAVY BILL Appropriation Gives $289,000,000 to Maintenance for Fiscal Tear. •WASHINGTON, July L—President Harding- today signed the Navy appropriations bill, providing approximately $289,000,000 for the maintenance of the naval establishment during the fiscal year. The president also signed seventeen other minor bil-a -itatoreLleatjni for Marion, Ohio* V

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