Indianapolis Times, Volume 35, Number 48, Indianapolis, Marion County, 6 July 1922 — Page 10

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ENCOURAGING DEVELOPMENTS CREATE DEMAND Stimulus to Trading in Stocks Results From Strike News. METALS MOVE ON REPORT Street Ready to Believe GovernWill 0. K. Steel Merger. TWENTY STOCKS AVERAGE NEW TORE. July 6.—Twenty industrial Stocks Wednesday averaged 02.97, up .03 per cent. Twenty active rails averaged 84.68. up 44 per cent. By Vnited Financial NEW YORK, July 6.—Developments, particularly In regard to the railroad strike, were encouraging and this gave stimulus to the demand for Stocks on the New York Stock Exchange today. Good buying was In evidence throughout the morning and stocks moved strongly upward, carrying almost the entire list with them. There was also an excellent demand for steels and coppers, the Street believing that the report of Attorney General Daugherty on the proposed steel merger to be submitted to the Senate Monday would not oppose the consolidated. Payment of 59.000.000 in copper export association notes before maturity Was another development Indicating a revival in the copper industry. Louisville & Nashville, responding to Dow Jones & Co.’s analysis of the railroad position, continued Its advance and went to 136% or about 11 points above Wednesday’s close. Louisville & Nashville has made a remarkable comeback and during the first five months of 1922 earned more than twica the required amount for; dividend payments. MONEY AND EXCHANGE Indianapolis bank clearings Thursday Were *3.234.000; bank debits, $6,711,000. MONEY AND EXCHANGE By United Financial NEW TORE, July 6.—The foreign exchange market closed Irregular today. Prices were: Sterling. demand. $4.43%: cables. $4.44%. Francs, demand. 7.09 c; cables. 7.99 He. Lire, demand. 4.41 c; cables. 4.41%c. Belgian francs, demand. 7.45 He. cables. 7.46 e. Marks. .0021 He. Greek drachmas, demand. 3.04 c; cables. 3.06 c. Swiss kronen, demand. 19.06 c: cables. 3940 c. Guilders, demand 58.05 c; cables, 88.70 c. Pesotas. demand. 15.65 c; cables, 15.67 c. Swedish kronen. 25.86 c: cables, 85.90 c. Norway kronen, demand. 16.85 c; cables. 16.70 c. Danish kronen. 21.450; cables. 21.50 c. NEW YORK LIBERTY BONDS —July 6 Prev. High. Low. Close, close. L. B. 3Hs. .100.58 100.34 100.44 100.26 L. B. Ist 4s 100.24 100.24 L. B. 2d 4s 100.18 99.96 L. B. Ist 4 % 5.100.52 100.33 100 50 100.40 L. B. 2d 4 H 6.100.26 100.12 100.18 100.14 L. B. 3d 4H5.100.30 100.12 100.18 100.10 L. B. 4th 4 H *400.48 100.34 100.40 100.36 Victory 4%5..100.54 100.52 100.52 100.54 MOTOR SECURITIES (By Thomson & McKinnon) —July 6 —Closing— Bid. Aak. Karl Motors .. . . „ 3 H 4 Packard com 13% 14H Packard pfd. 86 87 Peerless 48 49 Continental Motors com 8H 8% Continental Motors pfd 90 95 Rupp com 19 H 20 Hupp pfd 105 .... Reo Motor Car 28 28 H Rigin Motors 1 1 % Ford of Canada .......... 390 396 National Motors 3 5 Federal Truck 18 22 Paige Motors 22 23 Republic Truck 10 H 11 ACTIVE OIL STOCKS (By Thomson & McKinnon) —July 0— —Closing— Bid. Ask. Anglo-American Oil ........ 20H- 20H Atlantic Lobos 9H 10 Borne-Scrymser 380 400 Buckeye Pipe Line 94 96 Chesebrough Mfg Cons 185 195 Continental Oil. Colorado... .135 140 Cosden Oil and Gag 6 6H Crescent Pipe Lina 35 38 Cumberland Pipe Line .....135 145 Elk Basin Pete 10 H 10 H Eureka Pipe Line 90 93 Galena-Signal Oil c0m....... 55 57 Galena-Signal Oil comfd 55 57 Illinois Pipe Line 170 175 Indiana Pipe Line ......... 89 92 Merritt Oil 9 10 Midwest Oil 2H ... Midwest Rfg 200 ... National Transit 26 27 New York Tr- .si 165 175 Northern Pipe Line 98 102 Ohio Oil 290 295 Oklahoma PAR 8 10 £snn-Mex 40 47 PPvlne Oil and Gas 550 570 Prairie Pipe Line 248 252 Sapulpa Refg 4(4 4H Bolar Refining 360 380 Southern Pli.s Line 93 97 South Penn Oil 217 225 Southwest Penn Pipe Lines.. 62 64 Standard Oil Cos of Tnd 108 H 108% Standard Oil Cos of Kas 540 680 Standard Oil Cos of Ky 93 H 94 Standard Oil Cos of Neb.... 185 195 Standard Oil Cos of N Y.... 430 435 Standard Oil Cos of 0hi0.... 440 460 Swan & Finch 35 45 Vacuum Oil 415 420 Washington OH 22 28 NEW YORK CURB (By Thomson A McKinnon) —July 6 —Closing— Bid. Ask. Acme Packing 43 47 Curtis Aero, com 3H 5 Curtis Aero, pfd 23 H 25 Boston A Montana .... 15 16 Boston A Montana Corp . 75 80 Goldfield Con 0 8 Jumbo Extension 2 5 Kirixy Oil 6% 7 N isslng 6H 6*4 standard Motors 4 4H alt Creek 16 % 16% Tonopah Mining 1 % 1 % United P S new 7H 7% tT. S. Light and Heat... 1% 1 9-16 U. 8. Light and Heat pfd 1H IS wright-Martln 2 6 Yukon Gold Mine Cos. .. 85 100 Jerome 3H 4 New Cornelia 18 19 united Verde 27 H 28 H Sequoyah 3 10 Omar Oil 2 1-16 2H Bap. Tire 60 70 CHICAGO STOCKS (By Thomson A McKinnon) ■ July 6 Open. High. Low. Close. Arm A Cos pfd 97 % 97 % 97 H 97 H Arm Leather 12 H ... ... ... Com Edison. 130 % 131 130 H 131 Cont Mot .. 8H 8% 8H 8H Bari Mot ..3% 3% 3H 3H Llbby-McNeill 2 % ... ~, ... Mont Ward.. 22% 23 22H 23 Rick A Cos.. 20 26 25H 24% Pig Wig “A" 40 42 H 40 42 H Quaker Oata. 90% 90% 90 H 96 % Reo Motor.. 28% 28H 27U 27H Stew-War ... 43% 45 43% 45 Swift A C0..100% 101 100 H 100 H Swift Ihtl .. 19H 19% 19H 19% ihmpwj (JB) 45H 46H 46H 46H p 0 A C. . 55 66H 55 65 H Fhl ...... 67 67 66% 66% pririey ....102% h&ov TaarU 70 71% 70 71% ft

New York Stocks (By Thomson A McKinnon.) —July G

Prev. High. Low. Close. close. Atchison ...101H 100 101 % 99% Atl Coast LI. 11l % 104 111 % ... BA O 61V4 49% 51% 49% Can Pao ...143% 139 143% 138 H c A O 61 66% 68 66 H C A N W Ry 76 H 74% 76 H 74% C R I A P.. 44% 43% 44% 42% C A G W Ry 8% 8% 8% 8 Del A Hud..124% 123% 124% ... Del A Lack. 180% 128% 130% 120 Erie 16% 15% 16% 15% Erie Ist pfd. 24% 23 24% 23 Gt North pfd 81% 77% 81% 77% HI Central ..108% 105% 108% 105 K C South . . 20 V* 25 % 20 % 25 % Lehigh Valley 65 % 64 % 05 % ... LAN 136% 125% 136% 124% Mo Pao ... 22% 21% 22% 21% Mo Pao pfd. -65% 54 55% 63% N Y Central. 97% 94% 97% 94% NY.NH AH. 31% 29% 31% 29% North Pao .. 77 76 77 75 % Nor A West.llo% 107% 110% 107% Penn 43% 42% 43% 42% Reading .... 76% 74 76% 74 So Ry 25 23% 25 23% So Pac .... 91 89% 91 89% St Paul ... 27% 26% 27% 26% St Paul pfd . 43% 42% 43% 41% St L A SW. 30 28 30 27% StLASW pfd. 47% 46% 47% 46 StLASF RK. . 29% 28 29% 27% Tex A Pec.. 29% 28% 29% nr.. Union Paa ..144 139% 143% 139% Wabash 12% 12% 12% 12% Wabash pfd. 32 30% 32 30% West Pao ...20 20 20 19 j Rubbers— Ajax Rubber. 15% 15% 15% 15% Fisk Rubber. 16 15% 16 15% Good. Rubber 39 39 39 38% Kelly Spring. 47% 47% 47% 47% K. T.AR. Cos. 63% 62 % 63 15 % U. S. Rubber 63% 62% 63 63 Equipments— A. Car A F..165 163% 105 102% Amer. Loco. .113% 111 113% 111% Bald. Loco .115% 113% 114% 113 Gen. Electric 167% 167% 167% 167% Lima Loco. .107% 107% 107% .... N Y Airbrake 70 75 78 .... Pullman 121% 120 121% 119 Vs West. Elec. .59% 68% 69% 68% Steels— Beth. "A” ... 73% 73 73% Beth. “B” .76% 75 76% 70% Colo. Fuel .. 30 30 30 29 Crucible 75% ...., 73% Gulf States 81% 79 80 78% Lackawanna 74% 74 74 % 74 Midvale 34% 33% 34% 33% Otis 12 12 11% Repiogle ... 32 31% 31% 31% R Iron A f. 72% 71% 72 70% Sioss-Sheffied 45 % 45 45 % 43 % U. S. Steel .100 98% 100 98% U. S. S. pfd..121% 121 121% 121% Vanadium .. 45 % 44% 45% 44% Motors— . A. Bosch M. 40*4 40% 40% 40% Chandler M. 70 60% 70 70% Gen. Motors. 15 14% 14% 14% Hupp Motors 20 19% 20 . 20 Hud. Motors 23% 23% 23% 23% Max. M. "A” 66 % 65 66 67 Max. M. “B” 23% 23 23% 23% Martin Perry 31 31 31 31 % Pierce-Arrow. 19% 19% 19 % 19% Studebaker ..130% 120% 130 128% Stromberg .. 48 % 48 % 48 % .... Stewart-W. . 45 44 % 45 44 % Willy s-Over... 8% 8% 8% 8 % 1 White Motors 48% 48 48 V* 48 Minings— Butte CAQ. 6% 6% 6% Butte Super. 28% 28 28% -• • • Dome Mines.. 30 29% 30 29% Int Nickel .. 16% 16% 18% 16% Tex G A Sul 46% 46 46 .... Coppers— Am Smelting 60% 69% 60% 59%

IN THE COTTON MARKET By United Financial NEW YORK. July 6.—The cotton market opened today, being off 15 to 21 points on Liverpool, Southern and local selling bwause of favorable weather news and lower Liverpool cables. Japanese broker and spot Interests bought. By United Financial NEW ORLEANS. July 6.—Reports of heavy rains along the north Carolina coast and scattered rainfall throughout the Eastern cotton belt caused futures to continue slightly bearish on the opening of the New Orleans Cotton Exchange today. Prices were 8 to 12 points below yesterday's last sales. Reports from Liverpool showing cotton selling off from 14 to 16 points loreed futures down from 5 to 12 points during the first two hours of trading, despite a generally favorable weather outlook. July sold at 22.56 c, off 5 points, from the opening; October, off 10 points at 22.25 c; December, off 12 points at 21.93 c and March at 21.50 c. off 10 points. By United Financial LIVERPOOL. July 6.—Cotton showed fair spot demand today, with prices easier and sales close to B.ot>o bales. Receipts ran close to 24.000 bales, including 23,900 American. Prices were: Open. High. Low, July 13 32 13.34 October 12.89 12.91 12.75 December 12.61 12.61 12.48 January 12.50 12.51 12.38 March 12.30 12.30 12.20 At 12:45 a. m.: American middlings, fair. 15.12d: good middlings, 14.07d: fully middl'ngs, 13.77d; middlings. 13.62d: low middlings. 13.17(1; good ordinary. 12.32d; ordinary. 11.82d. The market closed quiet. Prices were:— July. 13.12d: August. 12.99d; September, 12.85d: December. 12.43d: March. 12.13d. COTTON FUTURES Open. High. Low. Close. January 22 10 22.15 21 81 21.81 March 22.00 22.05 21.70 21.70 May 21.75 21.75 21.45 21.45 July 22.60 22.70 22.34 22.34 October 22.75 22.75 22.33 22.33 December .... 22.45 22.50 22.10 22.10 INDIANAPOLIS STOCKS —July 6 Stocks Bid. Ask. Ind. Ry. 4 Light com. . 67 ... Ind. Ry. A Light pfd 84% 89% Jndpls. St. By 43 47 Indpls. N. W. pfd 49 Jndpls. A S. E. pfd .. 60 T. H., T. A L. pfd 76 T. H., I. A E. com 1 6 T. H.. I. AE. pfd 2% ... U. T. of Ind. com .. 8 U. T. of Ind. Ist pfd...,.,... 9% 14 U. T. of Ind. 2d pfd 1 6 Advance-Rumely pfd .... Advauce-Kuinaly com ... Am. Central Life 200 ... Am. Creosotlng pfd 94 ... •Belt R. R. com 66% ... •Belt R. R. pfd 50% ... Century Bldg. Cos. pfd 94 ... Citizens Gas Cos 20 ... City Service com 218 ... City Service Cos. pfd 68 08 Dodge Mfg. pfd 80 ... Home Brewing 65 ... Ind. Hotel com 88 ... •Ind. Hotel Cos. pfd 97% ... Ind. Nat l. Life Ins. Cos 2 ... Ind. Title Guarantee 60 ... Ind Pipe Lines 88 ... Indpls Abattoir pfd 46 ... •Indpls. Gas 44 ... Indpls. Tel. pfd 90 ... Indpls. Tel. com 2 ... Mer. Pub. Util, pfd 50 ... Natl. Motor Car Cos Jt 6 Pub. Savings Ins. Cos 6 ... Rauh Fert. pfd, 49 ... Standard Oil of Indiana.... 104 % ... Sterling Fire Insurance C 0... 7% ... Van Camp Hdw. pfd 90 ... Van Camp Prod. Ist pfd.... 97 100 Van Camp Prod. 2d pfd... *. .. ... Vandalla Coal Co.’ com 1 ... Yandalia Coal Cos. pfd 7 12 Wabash Ry. pfd ... Wabash Ry. com 11% ... Bonds Broad Hippie os 62 % ... Citizens St. R. R. 5s 82% 86 Indian Creek Coal 4 Mines 0s . . 100 Ind. Coke 4 Gas 6s 80% 90 Indpls. C. 4 S. 5s 92 ... Indpls. 4 Martinsville 6s 61 % ... Indpls. Northern os 40% 49 Indpls. St. Ry. 4s 65 67% Indpls. 4 N. W. 6s 65 59 Indpls 4 S. E. 6s .40 ... Indpls.. Shelby 4 S. E. ss. .. . 65 ... T. H.. I. 4E. os 64% ... Citizens Gas 5s 85% 87% Indpls. Gas 5s 85 % 87 Kokomo, M. 4 W. 55...... 88% 92 Ind Hotel Cos. 6s 99% ... Indpls. Water 5s 96% 98 Indpls. Water Indpls. T. 4 T.%s 82% 85 Indpls. L. 4 H. 5s 91% 93 C. T. of Ind. 6s 59% 62% Mer. H. &L. 5s 99% ... New Tel. L. D. 5s 97 ... New Tel. Ist 6s 97 ... South. Ind. Power 0s 86% 91% •Ex-dividend. RAW SUGAR MARKET By United Financial NEW YORK. July o.—The raw sugar market today was firm at 3% cents cost and freight for Cubas. with Indications to higher prices within the next week or two. An operator bought 3.000 tons of Cubas for July loading at 3.15 e f. o. b.. which Is somewhat above the parity of 3%c cost and freight. Cuban raw sugar sold at 3% c cost and freight, anew high for the year. rTV ng was of as active nature.

Prev. High. Low. Close. Close. Anaconda .. 53 51 % 53 61 % Chile Copper 22% 21% 22% 22 Inspiration .. 41 40 41 39 % Kennescott .. 35% 34% 35% 34% Miami 28% 28% 28% 28% Nev Cons.... 17 16% 17 16% Utah Copper 64% 63% 64 63% Ray Cons ... 16% 16% 10% 10% U S Smelting 41% 40% 41% .... OUs— Cal Petrol... 63% 62% 63% 62% Cosden 49% 47% 49% 47% Houston Oil. 77% 77 . 77% 76% Invincible Oil 15 14% 15 14% Mex. Petrol 107% 161% 164% 106 Mid "tates OU 13% 13% 13% 13% Ok’ >0 . . 3 % 33 % 3 % P a Petrol 73% 70% 73% 71% -cific Oil .. 68% 57% 58% 67% Pierce Oil . . 7 % 7 % 7 % 7 % Pro and Ref. 43% 42 43% 42% Pure Oil ... 31 30 % 30 % 30 % Royal Dutch. 58% 68% 58% 58% Stan Oof Cal 100 % 104% 100% 104% S Oil of NJ. 188 185 187% 182% Sinclair 32% 32% 32% 32% Texas Cos ... 47 % 47 47 % 47 % Tex C and O. 28% 27% 28% 27 Transcon 011 10% 15% 16% 15% Union 0i1... 21% 20% 21 21% White Oil .. 8 % 8 % 8 % 8 % Industrials— Allied Chem. 68 rs 68 68 Allis-Chal ..48% 48% 47% 48% Amer Can . 48% 40% 48% 46% Am H A L. 14% 14% 14% ... Am H A L pf 70 68% 70 ... Amer Ice ..105% 105% 106% 104% Am Linseed. 34% 33% 34% 33 Am Woolen. 93 89 00 90 Cent Leath.. 38 37% 38 37% Coca C01a... 74% 72% 73% 73% Cluett A P.. 50% 64% 56% 54% Cont Can ... 67 66% 67 End-Johnson. 79% 79% 79% 79 Fam Players BS% 81% 82% 81% Gen Asphalt 60 % 05 % 03 % 05 % Int Paper... 49% 48 48% 47% Loews 16% 14% 16% 14% Mont Ward. . 22 % 22 % 22 % 22 % Nat Enamel. 65 63% 55 53% Pitts Coal ..65 64 % 64% ... Sears-ltbk . . 77 % 75 % 77 % 75 % IT S Ret 8. . 67 % 66 07 % 66 U S C I Pipe 31% 31 31 31 U S In Alco. . 57 65% 57 65% Va Chem ... 32 32 32 A Tel A Te1..120% 120% 120% 120% Brook R Tran 28% 27% 27% 27% Consol Gas .120% 119% 120% 119 Col Gas 89% 88 88% 87% People's Gas 83 83 83 82 % West Union.. 96% 90% 00% Shipping— Am Int Corp. 42 % 42 % 42 % 43 A Ship A Com 20% 19% 20% 20 Atlan Gulf.. 38% 37% 38% 37% Int M Marine 19 19 19 10% Int MM pfd.. 74 73% 74 79% Foods— Am Sugar ..80% 79% 80% 79% Am B Sugar. 47 40 47 45 Austin Nieh. 29% 28% 29 29 A Cotton Oil. 27% 20% 27 Corn Prod ..104% 102% 104% 101% Cuba C Sugar 16% 15% 10% .... Cub-A Sugar 25 24 24 % 23 % Tobaccos— Am Sumatra 39% 38 74 39% 39% Am Tob Cos. 142% 141 142% 140% Gen Cigar... 76 76 76 76 Tob Products 79 % 79 79 79 % Miscellaneous Stocks— Alaska G J. . 1 % 1 % 1 % .... Tenn Coper.. 10% 10% 10% 10% Lee Rubber.. 29 29 29 28% Pgh A W Va. 37% 30% 37% 36% R J Key. (B) 45% 45% 45 * 45% Reynolds S.. 44% 44% 44% 45 Perre Marq. . 33% 31% 33% 31’4 Davison Chem 46 % 44 % 46 % 44 Elec S Bat.. 4% 43% 44 43% Callahan ... 8% 8 8% 43%

TERSE MARKET NOTES By United Financial NEW YORK, July 6.—J. P. Morgan A Cos. are offering $25,000,000 Humble Oil and Refining Company ten-year 5%s at par. The bonds are callable as whole on any Interest date during the first three years at 106, and at 102 % thereafter. The issue is to refund an equal amount of 7 per cent bonds | called Sept. 15. At 10 30 this morning it was announced that subscription books for the $25,000,000 Humbie Oil and Refining Company ten year 5% per cent bonds were closed. WASHINGTON—Secretary of the Treasury Mellon has expressed the opinion that the new fiscal year just beginning would be a prosperous one for the business interests of the United States. He has just returned from a brief visit to his home in Pittsburgh. where he said the steel trade looked very bright and promisii.* The railroads are increasing their orders for cars and rails, indicating that they were preparing for increased business. Crops are good, and if the coal strike vas out of the way there would be no cloud on the business horizon. The railroad strike. 1n his opinion, is on the eve of adjustment. He warned, however. that the country must look for a slowing up </ reaction in the fall of the year, but this, he said, would be natural and a good thing. NEW YORK. July 6.—Cleveland $2,000.000 school district 4 % per cent bonds dated July 1. 1922. maturing SIOO,OOO each Sept. 1. 1923 to Sept. 1. 1042/ inclusive are being offered by a syndicate composed of the Bankers Trust Company. Dillon Read A Cos.. William R. Compton Company, and Hannahs Ballln and Lee. to yield from 4 to 4.65 per cent. NEW YORK—Warner sugar advanced the prioe of hard grades of refined sugars 10 pomts to 0.30 cents. WASHINGTON—The tentative valuation of the Pere Marquette Railway as of June 30. 1915. was announced by the Interstate 1 Commerce Commission as $63,300,242. NEW YORK. July 6—The Federal Refining Company has advanced the price of refined sugar 10 points to 6.50 cepts Warner sugar advanced refined sugar to 6.40 c for hard and to 6.10 c for soita. NEW YORK—The C. C. C. A St. L R. R. for the year 1921. reports a net income of $2,929,048 after taxes and charges, equal to $5.16 a share on the $47,028,700 common, against $11.46 a share in 1920. The Cincinnati Northern Railroad for 1921 reports a net income of $502,488 after taxes and charges, equal to $18.74 a share on the $3,000,000 capital stock, against $355,210 or $11.84 in 1920. NEW YORK-—Officials of Mexican Petroleum today Indicated there is no basis for the story that the Pan-American Petroleum and Transport Company will offer 2% shares of non voting class “B" stock for one ahare of Mexican Petroleum common. NEW YORK—lmportant interests connected with General Motors today declared themselves at a loss to understand tlm recent strength in the common stock, which they can say can be attributed to no immediate development. In brokerage circles Durant, former Genera! Motors president, is credited with operating in the atock in an effort to liquidate the last of his holdings, estimated at upwards of 300.000 shares. Another explanation of the rise lies in rumors of dividend resumption. Some directors may favor an early return of common disbursements, but those whose Judgement has been followed In the paat have other things in mind. TAMPICO Maine, a subsidiary of Mexican Seaboard, has closed wells Nos. 2 and 19 in the Toteco pool and pinched all others. Daily production will bt reduced to 100.000 barrels. Gulf Oil will pinch wells Nos. 5 and 19, which show emulsion. Huasteca Petroleum. Mexican Petroleum, has pinched and cleared, because of emulsion, well Nos. 7 and 11. These produced 100,000 barrels July 4. NEW YORK—Dillon. Read A Cos. report that a hitch has arisen in the negotiations between themselves and Montevideo and Uruguay for a $6,000,000 loan. Attorneys of both parties are at present engaged in clearing up certain legal technicalities which probably gave rise to rumors of difficulties in negotiations. The bonds may be signed today. OILS OUTSTANDING FEATURE Curb Market Influenced by Report of Salt Water in Wells. By United Financial NEW YORK, July 6.-r-Oils were the outstanding feature of the curb activity today, influenced by reports of salt water appearing in the Toteco Azul Field of Mexico. However, the worst apparently had 1 been told about the oil companies with properties in Mexico and late in the day they regained part of the losses of yesterday and during the early trading today. Mexican Seaboard closed up 1%. Standard Oil of Indiana, which was the leader of the domestic oils, closed up 4%. During the day, Freeport Texas 7s rose 10% points. * The close was irregular, with the general list fluctuating close to the crest of the upward movement.

THE INDIANAPOLIS TIMES

GRAIN PRICES IRREGULAR AT BOARFS CLOSE Wheal Lower, Due to Lack of Export Demand and Good Weather Reports. By United Financial CHICAGO, July 6. —Grain prices were irregular at the close of the Chicago Board of Trade today. Wheat was lower on lack of export 1 demand and good weather reports. Corn advanced fractionally in the late hours on Increasing buying among houses with Eastern connections and a fairly heavy export demand. Dry weather in the mid-west also influenced the advance. Oats were dull and fluctuated in sympathy with other grains. Rains on Spring Wheat Rains were reported in the spring wheat belts, where drought has caused considerable apprehension. Cooler weather in Minnesota and the Dakotas removed the Immediate danger of black rust. Provisions were lower. July wheat opened off %c at $1.15%, and closed off lc. September wheat opened off %c at $1.16, and closed off l%c. December wheat opened off %c at $1.18%, and closed off l%c. July corn opened off %c at 63%c, and closed up %c. September corn opened off %c at 67 %c, and closed off %c. December com opened oft %c at 67c, and closed off %c. July oats opened up %c at 36%c and closed off %c. September oats opened unchanged at 39c and closed off %c. December oats opened off %c at 41 %c and closed off %c, CHICAGO GRAIN TABLE By United Financiil ■“—July 6 - WHEAT— Open. High. Lew. Clow. July ... l.lo> 1.15% 1.13% 1.14% Sept. ... 1.16 1.16 1.13% 1.14% Dec. ... 1.18% 1.18% 1.16% 117 Vs CORN — July ... 63% 63% 02% 63% Sept. ... 07% 67% 06% 07 V* Dee. ... 07 67 66% 60% OATS— July ... 36% 36% 30% 36% Sept. ... 39 39 38% 88% Dee. ... 41% 41% 41% 41% LARD— July ...11.17 11.17 11.07 11.07 Sept. ...11 42 11.42 11.27 M. 30 RIBS— July ...11 55 11.55 11.45 11.45 Sept. Nominal. RYE— July ... 86 86 85% 86 Sept. ... 85% 80 84% 85% CHICAGO CASH CRAIN By United Financial CHICAGO. July 6.—Wheat—No. 2 red. $115%; No. 3 red. $114%. Corn—No. 1; yellow. 65e; No. 2 yellow, 63 %c; No. 8 yellow. 64c; No. 4 yellow. 03 %c: No. 5 yellow. 03c: No. 6 yellow, 02c: No. 1 and 2 mixed, 64%c; No. 3 mixed, 03%c: No. 4 mixed. 03 %c; No. 0 mixed. 02 %c; No. 2 white, 64 %c: No. 3 white, 63%,'; No. 4 white. 63%c; No. 6 white. 83c; No. 6 white. 62%. Oats—No. 3 white, 36%c: No. 4 white. 36c; standard, 34 %c. Barley —Cash, 61 ({63c. Timothy—Cash. $4 (£5. Ciovcrseed—Cash, slo® 18. TOLEDO CRAIN PRICES By United Financial TOLEDO, July 6.—Wheat—Cash. $1.19; July and September, $1 16%; December, $1.20%. Corn—Cash. 710. Oats—Cash, 44c. Rye—Cash, 89c. Barley—Cash. 08c. Cloverseed—-Cash, sl3; October and Decernbr. $10.90. Timothy—Cash. $2.80; September. S3; Octooer. $2.90. AUike—Cash. $11.75; October. $11.25: December. $11.20. INDIANAPOLIS CASH CRAIN -—July 6 Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: —lnspections WHEAT—Firm No, 2 red. sloo® 108, CORN—Firm No. 3 white, 58®oPo; No. 4 white, 56® 57c; No. 3 yellow, 56® 57c; No. 4 yellow. 65®50c; No. 3 mixed, 55% Cl 50 % e. OATS—Steady. No. 2 white. 35®35%c; No. 3 white. 34@34%C. HAY—Weak. No. 1 timothy. $1701760: No. 2 timothy. slo® 16.50; No. 1 light clover mixed. sls® 15.50. No. 1 clover bay, $14.60® 15. New hav quotable at $2.50 0 3 under old. WHEAT—No. 2 red. 3 cars: No. 3 red. 6 care: sample. 1 car. Total 9 cars. CORN—No. 3 white 3 cars; No. 4 white. 4 cars; No. 0 white, 1 car; No. 3 yellow. 2 cars; No. 4 yellow, 4 cars: No. 6 yellow, 2 cars: No. 6 yellow. 2 care. Total. 18 cars, i OATS—No. 1 white, 1 car; No. 2 white. 2 cars: No. 3 white. 5 cars: No. 4 white, 6 cars: No. 3 mixed. 1 car. Total. 15 cars. RYE—No. 2. 1 car. Total. 1 car. Total number of cars for day. 43. Grain prices quoted F. O. B. 41%. rate to New York. PRIMARY MARKETS (By Thomson & McKinnon) —July 6 RECEIPTS Wheat. Com. Oafs. Sioux City..., 42.000 20.000 St. Joseph 5.000 32.000 14.000 Chicago 107.000 805.000 300,000 Milwaukee ... 1.000 108.000 61.000 Minneapolis .. 210.000 20.000 22,000 Duluth 129,000 65.000 43.000 St. Louis .... 115.000 62.000 70.000 Toledo 4.000 0,000 6.000 Detroit 2.000 2.000 6.000 Kansas City... 144,000 10,000 20,000 Peoria 6.000 28,000 43.000 Omaha 8.000 32.000 16.000 Indianapolis Totals 751,000 1,661.000'754,000 Year ago ..1.012.000 1.130,000 717,000 SHIPMENTS Sioux City ... 1.000 50,000 4,000 St. Joseph ... 6.000 7,000 2,000 Chicago ..... 86.000 20.000 140,000 Milwaukee ... 8.000 11,000 17,000 Minneapolis .. 49.000 65,000 37,000 Duluth 162,000 St. Louis 23,000 66,000 98.000 Toledo 4,000 2.000 Kansas City .. 164.000 14.000 5,000 Peoria 6,000 22.000 50.000 Omaha 14.000 81.000 44.000 Indianapolis •• 22,000 6,000 Totals 345.000 352,000 567,000 Year ago ... 621.000 273.000 213.000 CLEARANCES New York ... 170,000 77,000 470,000 Philadelphia .. 60.000 ...... ...... New Orleans .. 266,000 Totals “f... . 486,000 77,000 470.000 Year ago •• 464,000 116,000 HAV MARKET The following are the Indianapolis prices for hay. by the wagon load, delivered in Indianapolis: Hay—Loose timothy. slß'll 20: mixed hay, $18(219: baled hay. $lB 019. Oats —New, per bushel. 42 @4sc. Corn—Both old and new. per bushel, 63® 68c. 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. NEW YORK METALS By United Financial NEW YORK. July 6.—Standard Copper— Quiet: spot. July, August and September offered. 13.50 c. Lead—Quiet, spot, July and August. 6.80 c. Spelter—Steady: East St. Louis, spot, July and August, 5.40® 5.50 c. NEW YORK COFFEE By United Financial' NEW YORK. July 6.—Coffee opened steady today. July. 10.10 c asked: September, 9.6500 70c: December. [email protected]. March. 9.48 c bid: May. 9.40 c bid. BOSTON WOOL MARKET DULL BOSTON, July 6.—Despite the fact that the Boston wool market remains 'dull and listless, today the foreign markets have a good undertone.

SWINE STEADY, WITH PRICES GOINGJ.OWER Both Shipping and Packing Demand Fair for Good Run of Receipts. RANGE OF HOG PRICES. Good Good Good June mixed. heavy. light. 28. SIO.BO 10.90 $10.70-10.80 $10.90-11.00 29. 10.95-11.10 10.85-10.90 11.00-11.15 80. 10.85-10.95 10.75-10.85 10.95-11.10 July 1. 10.85-10.95 10.75-10.90 10.95-11.05 3. 10.95-11.10 10.75-10.95 11.10-11.15 6. 11.05-11.15 10.85-10.95 11.10-11.20 6. 11.00-11.10 10.85-11.00 11JO-11.15 With receipts close to 8,000 and both the shipping and packing demands fair, swine prices were steady to 5 cents lower generally in trading on the local livestock exchange today. Packers purchased about half of the receipts, shippers taking the other half. Trading was of an active nature, and all of the receipts had been sold at a very early hour in the forenoon. There was a top of $11.15 on light swine, but the bulk of that grade brought sll.lO. Other good swine brought [email protected], with the bulk of sales [email protected]. Pigs brought the price of the loads, roughs $9.50 and down, and stags $8.50 and down. l attle Prices Strong Cattle prices, were strong to 15 to 25 cents higher, the commoner grades commanding prices that we're steady to strong and the better grades higher values. Packers displayed good demands, ami trading was of an active nature. Cooler weather was one of the strenthenlng factors. Veal prices again ruled steady. Receipts were light at 700, the demand was fair and the quality fair to good. Sheep and lamb prices again ruled steady. Receipts ran close to 700, and the quality was fair. Both butchers and shippers were good buyers. —Ho**— 100 to 150 lbs. average sll,lOO 105 Over 300 lbs 10 85 160 to 300 lbs 10.85 011.15 Best pigs, under 140 lbs 10.95 011.15 Top 11.15 Rough* 9.25® 9.50 Bulk of sales. .. 10.95C11.10 Stags 7.50 a 8.50 —CattleFew choice steer* 9.25® 9.85 Prime corn-fed steers. 1.000 to 1.800 lbs. . 8.000 0.00 Good to choice steers, 1,000 to 1.300 lb* 7.500 8.00 Good to choice steers, 1.100 to 1,200 lbs 7.250 7.50 Good to choice steers. 1.000 to 1,100 lbs 7.000 7—5 Common to medium steers. 80C to 1.000 lbs 6.50 0 7.00 -4o*i sad Heifers— Few choice heifers P.OO 0 0.50 Good to choice heifers B.oo® 8.50 Medium hellers 7,50® 8.60 Common to medium heifers. 0 50® 7.25 Good to choice cows 5.76® 6.50 Common to good cows 3.75® 6 75 Canners * 2.500 3.60 Cutters . 2.26® 3.25 —Bull*— , Fancy butcher bulls , 5 25® 6.60 Good to choice butcher bull*.. 6.00 0 5.25 Bologna bulls 3 50® 3.75 Light bologna bulla 8.06 0 3.25 Light common bulls 3.00 0 3.60 —Calrea Choice veals 8.50® 9.00 Good veals 8.00 0 8.60 Medium veals 7.00® 8.00 Lightweight veals 6.00® 6.50 Heavywr.'iht veals 5,50 0 6.60

On Account of Strike The Big 4 Railroad Wants All Kinds of — Railroad Mechanics and Helpers At U. S. Labor Board Rates and Rules f Apply at Room 506 Majestic Building PENNSYLVANIA and MARYLAND STREETS

Fair to medium 6.50 0 7.00 —Stockers and Feeders— Good to choioe steers under 800 lbs 6.25® 7.50 Medium cows 3.60® 3.75 Good cows 4.000 4.65 Good heifers 6.00® 7.60 Medium to good heifers 4.500 5.76 Milch cows and springers 35.00 0 85.00 —Sheep and Lambs— Cull ewes 1.50® 2.00 Good to choice ewes ....... 2.00 0 4.60 Bucks 2.000 3.30 Yearlings 7.00 0 9.00 Springers 9.00013.00 Cull 6.000 7.50 OTHER LIVESTOCK CHICAGO, July B.—Receipts, 27,000: market, steady to 5c higher than yesterday: average. $9.30010.90; top. $11; heavyweight, $10.45 0 10.85; medium weight, $10.60 0 10.85; light weight, SIO.BO 010.90; light lights, $10.25 010.80; heavy packing sows, smooth, $8.85 09.60: packing sows, rough, $8.5009; pigs. $9.25®; 10.30. Cattie—Receipts, 11,000; market, steady to strong; top. $10*25; beef steers, $9,850 10.30; medium and good, $8.4009.85; light weight. $9.10010; common and medium. $7.1009.10; butcher cattle, heifers. $0.5008.75; cows, $4 0 7.75; bulls. $4,400 6.75; canners and cutters, cows and heifers, $2.76 04; canner steers, $3.50 05; veal calves, light and handy weight, SBO 9.25; feeder steers. $5.65 0 7.76; stocker steers. $4.75 0 7.65; stocker cows and heifers. $3.25 0 5.75. Sheep and lambs — Receipts. 9.000: market, 25c higher; lambs, 84 lbs. down, $12.75 014; lambs: culls and oommon, $7.50012.50: yearling wethers, $9012; eews, $4.5007.00; ewes, culls and common, $204.25; breeding ewes, $8.25011.25; feeder lambs, $11.50012.60. „ CINCINNATI. July B.—Hogs—Receipts. 3,o00: market, strong to 20 cents higher; all grades. $11.20; pigs. $11: roughs, $8.50; stags. $5.60. Cattle—Receipts. 700: market, steady: bulls, strong; calves, $9 down. Sheep and lambs—Receipts, 600; market, slow steady: ewes. $6 down; best lambs, sl4: seconds. $9; culls. $4 08. CLEVELAND, July 6.—Hogs—Receipts, 2.500: market, steady: yorkers, $11.35; mixed, $11.25; mediums, $11.25; pigs, $11.35; roughs. $8.75; stags. $5.60. Cat-tle-—Receipts, 250: market, strong, good to choice steers. $9 09.50: good to choioe heifers, $6,500 7.50; god to choice cows, $4.75 05.25; fair to good cows, $3,500 4.50: common cows. $2.5003.25: good to choice bulls, $5.6006.50; mllchers, s3s® 76. Sheep and lambs—Roceipts, 500; market, strong; top, $13.60. Calves—Receipts, 300; market, higher; top, $10.60. ST. LOUIS. July o.—Cattle—Receipts, 3,500; market strong to 260 up; native beef steers. $9.25 010; yearling steers and heifers, $8.2509.50; cows, $4.2500.50: Stockers and feeders. $4.5009; calves. $2.50 @9.50: canners and cutters, $2.50 03.50. Hogs—Receipts .10.000; market steady; mixed and butchers, $10.90 011: good heavies, $10.85010.95: roughs. $809.10; lights. $10.90011; pig*. $10.25 010.75; bulk. $10.90010.95, Sheep—Receipts, 1,500; market steady to strong: mutton ewes. [email protected]: lambs. $12.50013.25; canners and choppers. $1 0 2.60. KANSAS CITY. July 6.—Hogs—Receipts, 7,000; market, steady. 5c up; bulk. $10.40® 10.50; heavies, $10.10010.55; butchers. $lO 45010.70; lights. $10.50® 10.75; pigs, $9.5001060. Cattle—Receipts, 3,o00: market, strong: prime fed steers. $9.35 0 10; plain to fair dressed beef steers. $7,75 0 9.85; western steers, $7.60010.75: southern steers, $5.5008.75; cow*. $3.360 7.25; heifers. $5.4009.25; Stockers and feeders, $4 250 8. bulls. $305.25; calves. $4,500 9.25. Sheep—Receipts. 3,000; market, strong to 25c up: lambs, $11.75013.50: yearlings. $8.75010.50; wethers, $0.25® 7.45; ewee. $4.2504.75: etockers and feeders. $8.75011. EAST BUFFALO. July 6. —Cattle—Receipts, 100: market, active; prime steer*. $8.75010.50: shipping steers. $8.75® 10.50; butcher grades. sß@9; heifers. $5.50 @8.25; cows. $2.5000.25: bulls. $3@5*.50; feeders. $50850: milk cows and stringers. S2O 0115 Calves—Receipts. 200; market, active: cull to choice. $3 010. Sheep and lamb—Receipts, 400: market*. activechoice lamb*. sl3 014: cull to fair, s7® 12.75; yearlings. $0 0 9 A0: sheep. s3® 7.50. Hogs—Receipts, 2.400: market, active: yorkers. $11.40011.50; pigs. $11.40 011.60: mixed. 511.25 011A0; heavy. $11.10011.40; roughs. $800; stags. ss® 8. INDIANAPOLIS PRODUCE E*ge—Fresh. 19 ® 20c. Butter—Packing stocks. 18®19c. Poultry—Fowls, 18@20c; leghorn fowls, 15c: broilers, 1% to 2% lb. size. 34c: broilers under 1% lbs, 12c stags. 12c: young hen turks. 3 lb. turks. 13 lbs. up. 28c; cull thin turkeys not wanted: ducks, 4 lbs. and up. 15c: geese. 10 lbs. and tip, 12c; squabs. 11 lbs. to dozen. $6; old guineas, per dozen, $3. Butter—Local dealers are paying 37038 c per lb. for butter delivered In Indianapolis. Butterfat—Local dealers are paying 300 380 per lb. for butterfat delivered In Indianapolis.

LIBERTIES MARCH UPWARD Early Trading Shows Continuation of Strength in Two Issues By United Financial 1 NEW YORK, July 6.— Liberty bonds continued their upward march in early trading today. Fourth 4%s reached 100.50 and 3%s shot to 100.44 from the opening figure of 100.38. They were at 100.50 yesterday but shaded off after reaching that figure. Consolidated Gas convertible 7s went from 118*4 to 120 in early trading. Brazilian bonds were little affected by reports of Internal trouble in that country. The market displayed unusual activity during the forenoon, with a distinct upward trend of prices in all groups under leadership of liberty loans. First, Thir dand Fourth 4ffls established record high prices, while Second 4%.s reached anew high for the year, as did 3% per cent tax exempt issues. Foreign bonds were generally steady. There was still a good demand for high grade rail bonds at advancing prices. Tractions showed rising tendencies. MARRIAGE LICENSES Theodore B. V. Keen. 1327 Parks Are.; Marian E. Craig, 1420 N. Alabama St. Mercado Hakin. 1020 8. Capitol Ave.; Zlmbul Levy, 1102 S. Senate Ave. Alonzo H. Forsha, 124 S. Arsenal Ave. Anna L. Young. 2021 W. Vermont St. birth! Ell and Roda Pedery, 529 W. Maryland, boy. Richard and Mary Netherton, 333 Massachusetts Ave, boy. Carl and Kathleen Moldthan, St. Vtnoent’s Hospital, boy. Elmer and Mad ora Roger*. 725 N. Illinois. girl. Harold and Goldie Newbolt, 125 Emmett, girl. Solomon and Eliza Adams, 1120 Fayette, girl. Jack and Ruthalena Alkire, 628 Berwick, toy. Charles and Alice Massengale, 2225 Cushing. boy. Dallas and Margaret Arnold. 1105 S. State, girl. William and Gertrude Walsh, 920 E. McCarty. girl. Chester and France* Romlne. Long Hospital. girl. Frank and Katherine Woods, Clark Blakeslee Hospital .girl. Andrew and Lucinda Johnson. 1118 N. Belmont, boy. Almon and Josephine Ward. 1118 N. Belmont. girl. Bernard and Anna PrltchelL 229 W. Twelfth, boy. Stephen and Audrey Stednbuch. 731 Gra- 1 ham, boy., DEATHS Neatrice Carter. 18 .city hospital, general peritonitis. Aletha Steiner. 34. 1916 Sugar Grove, chronic myocarditis. Hanna W. Harris. S3, 821 E. Morris, acute dilatation of heart. Alphonso E. Lomax. 30. Tenth and West, chronic myocarditis. Lnoy Kennedy. 79. 2119 W. Nineteenth, chronic myocarditis. Raymond Candle, 3. 2201 Pleasant, tetanus. Charles Bezeley. 33. city hospital, pulmonary tuberculosis. Susan Churchill. 62, 617 -Hudson, cerebral hemorrhage. Mary Benner. 72, 029 W. Thirty-First, acute gaetritis. John Holtman. 79, 136 N. Arsenal, uremia. Henry Bethel, 57. 2042 Hillside, leukemia. CLEVELAND PRODUCE By United Financial CLEVELAND, July 6.—Butter—Extras in tubs, 43@40%e: prime. 44@44%c: firsts. 41 @4l %c: packing stock. 23025 c. Ergs —Fresh gathered, northern extra. 28c: extra firsts. 27e: Ohios. 24c: western firsts, new cases. 23c. Poultry—Live, heavy fowls. 22 0 23c; roosters. 15c: spring ducks. 2>@2Be.

JULY 6, 1922

HUGE SUM IS INVESTED BY BONDBUYERS' Records Show More Than Two Billions Went Into New Corporations. AMERICAN FOLK EDUCATED Feature of Late Financing Persistent Decline in Interest Rates. BY W. H. GRIMES. United Financial Staff Correspondent. NEW YORK, July 6. —During tho first six months of 1922 the American people Invested the huge sum of $2,406,089,390 In the securities of corporations and foreign governments. About 75 per cent of this investment was in bonds, showing again how the American people have been converted into a nation of bond buyers during the last few years According to the Dow Jones financial agency, railroad bonds for the six months'of 1922 totaled $20,952,000, industrial bonds $465,355,200, and public utility bonds $408,975,200. Railroad notes were $222,003,100, industrial notes $47,455,000, and public util-, ity notes $152,357,050. The stocks of| these three classes of corporations totaled $336,666,900. The total of ail corporate financing was $1,732,287,490. A feature of the recent financing is the gradual decline in interest rates. A few issues bore 8 per cent, but more bore only 5 or 6 per cent The most interesting development was the large over subscription of the New York Telephone Company $25,000,000 6*4 per cent preferred stock floated without aid of any banking house through special efforts to have the company employes subscribe. The foreign offerings absorbed in this country during the first six months of the year totaled $673,801,900 according to the American Acceptance Council. This compares with a total of $695,204,225 for the entire year of 1921. These figures mean that in a year and a half more than a billion of good American dollars have gone to make American people stockholders In foreign countries. This indicates, the Acceptance Council points out, that the American people have confidence in the final working out of their problems by foreign countries. A general spurt of bond buying is looked for this month, because of the large amounts released for reinvestment by obligations which have matured. WHOLESALE BEEF PRICES The following are today's wholesale prices for beef cuts as sold on the In-1 dianapolis markets of Swift Sc Cos.: Ribs—No. 2, 15%c: No. 3.12 c. * Loins No. 2,20 c: No. 3,10 c. Rounds—No. 2. 15c: No. 3.14 c. Chucks—No. 2. 10c; No. 3.9 c. Plates—No. 2. 0c: No. 3,6 c.