Indianapolis Times, Volume 35, Number 58, Indianapolis, Marion County, 18 July 1922 — Page 10

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STOCK TRADES DIFFER ONLY IN LEADING ISSDE Wall Street Journal Says Question Is Which One Shall Be First. MARKET IS INDIFFERENT Another Cut in Crude Oils Treated Calmly by Those Interested. By United Financial NEW YORK. July 18.—The Wall Street Journal today says: Trading on the New York Stock Exchange today differed from the previous session only in respect to the stocks which were picked to head operations for the rise. Again it was fully demonstrated that big issues constituted the principal feature of the market. Such stocks as Steel common, Kelly-Spiing-fleld. Railway Steel Springs and International Paper, which displayed special strength, while the whole market maintained its indifference toward the disturbing factor as the present economic situation. Another cut in crude oil prices was treated calmly by those interested in oil stocks, and a better tone in the railroad group reflected the feeling that some psychological improvement had occurred in the strike situation, even if the financial community was unable to say exactly what change bad taken place. The market closed higher. MONEY AND EXCHANGE Indianapolis bank clearings Tuesday wer* $3,516,000; bank debits. $6,632,000. By United Financial NEW YORK. July IS.—Foreiim exchange opened firm today. Sterling. demand. $4 44 % : cables. $1 45 H French francs, demand, 8.41%: cables. 8.42 c. Lire, demand. 4.63 c: cables. 4.63 %c. Belgian francs, demand. 7.P2'4c; cables. 7.93 c. Marks, .0021 %. Guilders, demand. 38 <6c: cables, 38.81 o. Drachmas, demand. 3.18: cables. 3.20 c. Swiss francs, demand. 19.16 %c: cables. 19.18 %e. Sweden kronen, demand. 2.3.95 c: cables. 26c. Norway demand. 16.57 c: cables. 16 62c. Denmark. demand, 2150 c: cables. 21.60 c. Pesetas, demand. 15.48 c: cables. 15.50 c. NEW YORK MONEY By United financial NEW YORK. July 18.—Tim* money, with maturity to ninety days. Friday was loanrd at 4 per rent with a 4'* per cent to 4% per cent rate on four to six month loan* The tendency of the time money market was distinctly easier and lower rates are expected within the next day or so. NEW YORK LIBERTY BONDS —July 18— Prev. High. Low. Close. Close. L B. 3%* . ..100.06 100 84 100 90 100.90 L. B. 2d 4s 100.60 L. B. Ist 4'•4 5.101.10 100 84 100 84 100.90 L B 2d 4'* s. 100.80 100 .14 100 14 100 70 L B2d 4's. 100.18 100 44 100.30 100 14 I, R 4th 4’is.lOl 08 100.90 100 92 101.00 Victory 4 s is. . 100.18 100.14 100.56 100.56 NEW YORK CURB MARKET (By Thomson * McKinnon.) —July 18— —Closing— Bid. Ask. Acme Packing 43 48 Curtis Aero, com 3'i ■' Curtis Aero, pfd 25 28 Boston 4 Montana ...... 15 Boston 4 Montana Corp . 72 Goldfield Con 5 Jumbo Extension ...... 3 Kirby Oil •}' ? Niptssmc 5 > •> % Standard Motors 4 >. a Salt Creek 13 % 15 V Tonopah Extension IN 1 % Touopah Minins 1 J lie United P. 8. New 6' , U. S. Light 4 Heat 1% 1% U. S. Light 4 Heat pfd. IS IS Wright-Martin 3 6 Yukon Gold Mine Cos. ... 90 100 Jerome 3 % 3% New Cornelia 18*. .... United Verde 27% 28 5* Sequoyah 2 8 Omar Oil IS 1 13-16 Rep. Tire 50 83 MOTOR SECURITIES (By Thomson 4 McKinnon.) —July 18— —Closing:— Bid. Ask. Earl Motors 3% 3is Packard com 14 S 15 1 ackard pfd 86 % 87% Peerless 53 54 % Continental Motors com. ... 7% 71* Continental Motors pfd 92 .... Hupp com 19 13 S Hupp pfd 104 110 Elgin Motors 1 1 H Grant Motors 390 400 National Motors l*i 2% Federal Truck 19 21 raise Motors 22% 23% Republic Truck 94. 10% ACTIVE OIL STOCKS (By Thomson 4 McKinnon) —July 18— —Opening— Bid. Ask. Anglo-American Oil 20% 20 *•* Atlantic Refininx 9% 10 Borne-Scrymer .400 420 Buckeye Pipe Line 92 95 Chesebrouifh Mfsr. Cons 183 195 Continental Oil. Colorado .... 135 145 Cosden Oil and Gaa 6 12 Crescent Pipe Line 34 36 Cumberland Pipe Line ...... 13) 145 Elk Basin Pete 9*i 9 % Eureka Pipe Line 90 93 Galena-Signal Oil, pref 100 105 Galena-Signal Oil. com 55 57 Illinois Pipe Line 163 168 Indiana Pipe Line 90 91 Merritt Oil 9% P\ Midwest Oil 2% 3 Midwest Kfg 200 .... National Transit 23 27 New York Northern Pipe Line 98 102 Ohio Oil 283 283 Oklahoma P. 4 R 8 10 Penn-Mex 34 38 Prairie Oil and Gas 590 600 Prairie Pipe Line 244 248 bapulpa Refg 4 4% Solar Refining 6outbem Pipe Line 93 97 gouth Penn Oil 200 210 Southwest Penn Pipe lines.. 62 64 Standard Oil Cos. of Ind 107 4* 108 Standard Oil Cos. of Kan.... 530 510 Standard OH Cos. of Ky 03 93% Standard Oil Cos. of Neb. . . .185 195 Standard Oil Cos. of N Y.. .423 428 Standard Oil Cos. of Ohio 440 460 Swan 4 Finch 35 45 Vacuum Oil 410 420 Washington Oil 22 28 CHICAGO STOCKS (By Thomson 4 McKinnon) —July IS— Open. High. Low. C’ose. Am. Ship... 72% 73 71% 73 Ar 4 Cos. pfd 98 Ar. Leather. 12% .... .... .... Case Plow ~ 7 Con. Motors. 7■* Earl Motors. 3% Llbby-McNeill 2 -. Mont. Ward. 22% 22% 22% 22% Pick 4 Cos.. 25 25 24 8 25 Tig Wig. iA) 40% Quaker Oats 98 98% 98 98 .Reo Motor.. 13% 13% 13% 13% 'gtewart-W... 44 44 4, 44 44 gwlfe 4 C0.,.101 101% 101 101% gwift Inti... 19% 20 19% 20 Thom. (JR) 52% 52% 52% 52% Union C. 4 C. 56% 57% 66% 57% Wahl 59 50% 19 60 Wrlgley 103% 106 103% 104% Yellow Taxi. 70% 70% 70 70% CLEVELAND PRODUCE By United financial CLEVELAND, July 18—Butter—Extra. In tubs. 41®41%e. prime. 42t042%c: firsts. JW@3B%e: packing slock. 33J230. Errs—Fresh gathered, northern extras, fit % : extra firsts, 27%: Ohlos, 24® 24%: Sasaism firsts, new cases, 28 %o. Poultry jLire, hesry fowls, 25® 97c: roosters. jBo; fisnsj dneka SOtiiSa.

New York Stocks (By Thomson & McKinnon.) —-July 18—

Railroads— Prev. High. Low. Close. close. Atchison 102 101% 102 101% At. C. Line.. 108% 108 108% 108 5-4 0 *52% 52% 52% 52 Can. Pacific. 140% 140 140% 139% C- 4 0 00 % 68% 00% 68% C. & N.W.Ry. 77 76% 76% 76% C., R. I. 4 P. 44% 43% 44% 43% Del. 4 Lack.. 129% 127% 120% 127% Erie 17 16% 16% 16% Erie Ist pfd. 24% 24 24% 23 % Gt. N pfd... 81% 80% 81 80% K. C. South. 25% 25 25 26% Lehigh Valley 65 64 4* 64% 05 L. 4 N 128 128 128 Mo. Pacific.. 22 % 21% 22% 22 Mo. Pac. pfd. 56% 56 56% 56 N. Y. Central 96% 05% 96 95% N.Y..N.H.4H.. 31% 30% 31% 30% North, Pac.. 77% 76% 77% 77 Nor. & West. 110 110 110 Penn 44 44 44 44 Reading .... 75 74 75 75 % So. Ry 24% 24% 24% 24% So. Pacific... 90% 89% 90 00 St. Paul 28% 27% 28% 28 St. Paul pfd. 44% 43% 44% 43% 'St. L. 4 S. W. 28% 28% 28% St.L.4 S.W.pf 47 45% 47 46 St.LAS.Ft.Ry. 28% 28% 28% 28% Tex. 4 Pac.. 20% 29% 29% 29% Union Pac...143% 143% 143 141% Wabash .... 12% 12% 12% 12% Wab. pfd .... 32 % 32 % 32 % 32 West. Pacific 18% 18% 18% Rubber— Ajax Rubber 15% 15% 15% 15 Fisk Rub . ... 15% 11% 15% 15% Goodrich R.. 39% 39% 39% ... Kelly-Sp. . . 50 % 48% 50% 48 K. T. 4 R. Cos. 15% 15% 15% 15% U. S. Rubber 63% 62 V* 63 62 Equipments— A. C. 4 Fd. 169 168% 168% 167 Am. Loco. .118% 115% 117% 115% Bald. Loco. . 121 119% 120% 119 % Gen. Electric 170% 171% 176 171 Lima L0c0... 11l 108% 111 108 N. Y. Air... 81 79 81 78% Pressed 8. C. 82% 80% 82 80 Pullman ...123% 122% 123% 121% Ry. Steel Sp. 108% 106 108 101% West. Air... 93 93 93 92 West. Elec.. 01% 61 61% 60*4 Steels— Beth. “A".. 74% 74% 74% Beth. "B" .. 77% 77 77 % 76% Colo. Fuel... 31% 31% 31% 30 Crucible .... 84 80 83% 77 Vi Gulf States.. 84 83 83% 87% Lackawanna.. 70% 75% 70% 7.1% Midvale ... 36% 35% 36 35% Penn S B St. 8% 8% 8% .... Replogle ... 23% 32% 32% 31% Rep. I. A St. 73% 72% 73 71 Slosa-Sheffield 4S 47% 48 U. S. Steel. 102 100 101% 99% r S. St pfd 120% 120% 120% 120% Vanadium .. 47% 46% 47% 46% Motors— Chandler M.. 71 70% 71 70% Gen. Motors. 14% 14'* 14'* 14% Hupp Motors 19% 19% 19% 10 Hudson Mot. 22% 22% 22% 23 Max. M. ~A ". 60 66 66 Kelsev W . 08 % 98 % its % Max. M. “B" 24% 23% 23% 24% Pierce-Ar..... 19 18% 11* 19 Studebaker .139% 137% 139% 137% Stromberg . 40% 40% 40% 45 Willys-Over.. 9 8% 9 81, Minings— Butte Sup . . 29% 28 29% 28’, T. Gas 4 Sul. 48 48 48 47% Coppers— Am. Smelting 62% 61 % 02 61 % Anaconda ... 53 52% 52% 52% Chile Cop ... 22% 22% 22% 22% Inspiration.. . 40% 4040% . . . Kennecott . 30 % 36% 30% 36% Miami 29% 29% 29% ... Nev. Cons .10% 10% 10*1 Utah Copper. 0.1 64% 64% 04 % LIBERTIES ARE CHECKED Flight of Government Bonds Turned Into Small Gosses. By United Financial NEW YORK. July 18—The flight of Liberty bonds to new highs was checked in late trading today -vhon fourth 4%5. which had reached .-101.04, and first 4V*s. which went to $101.04, turned and dropped below 101. The decline was steady after it set in. The advance of call money to 3% per cent was a factor in the decline. Liberties and gilt edge rails accounted for most of the soles in a small volume of trading. Norfolk & Western convertible 6s sold <ronnd 111. The favorable position-of-this road, a non-union coal carrier, has been pointed out repeatedly since the beginning of the coal strike. Consolidated Gaa convertible 7s ient to 124%. United States Steel 5s had several periods of ict:vity at a fraction ahov. 102. and Sinclair Consolidated ■ >il was anothep active bond among th ■ industrials. TERSE MARKET NOTES By United Financial NEW YORK. July 18.— -June copper shipment* ar estimated to have reaehed a level of 170.000.000 pounds. This compares with 110.000.000 pounds for May and an avrraxe of 125.000.00 for the first quarter of the year. By United Financial WILMINGTON. July 18.—Work was suspended several weeks ago on the build in? of Segal9 Sugar Refinery here. Much of the steel skeleton work is completed and soon will be resumed. By United Financial NEW YORK. July 18—Carolina. Clinchfield 4 Ohio for the year ended Dec 31, 1921, shows a net Income of $723,607, after taxes and charges, equal after preferred dividende to 13e a share on the $2.7,000.000 common, against $88.7.224, or 780 a share on the common In 1920. By United Financial NEW YORK, July 18.—Columbia Gas in the half year ended June 30 earned its year # dividend with a small margin. With operating ••'osts coming under better control, the company should show between sl2 and sls a sha-e this year. By United Financial NEW YORK. July 18.—Earnings, after all charges, of American La France Fire Engine Company in the first half of the year were at the rate of 16 per cent on Its 52,900.000 common Gross business was at the rate of $6,000,000 to $7,000,000 annually. By United Financial YOUNGSTOWN. July 18.—A blast furnace of the Brier Hill Steel Company was banked Monday, making the tourth stack in the Mahoning Valley to go down because of interruption to coal supplies. The company ma.v be compelled to bank anothed furnace before the week is over. Youngstown Sheet and Tube t# operating at 80 per cent of normal capacity, but officials characterize the fuel situation as desperate. By United Financial DULUTH. July 18.—While the Oliver Iron Mining Company is operating and shipping from all its active mines in Minnesota ranges. Independents are curtailing operations as a result of the news trom Eastern Furnaces and the shortage of coal. The United States Steel Corporation interests are reported to have covered their coal requirements for some time ahead The Minnesota Steel Company is maintaining operations around 60 per cent of normal. By Vnited Financial WASHINGTON. July 18 .—June merchandise imports totaled $260,000,000. against 518.7.689,909 a year ago. Exports were $334,000,000. against $336,808,606 Durtng the twelve months ended June 30. 1922. imports were $2.607,618 110. against $3. 654,459,340 imported In the same period of 1921, while exports In the twelve months' period of 1021 aggregated 53,779,220.971. against $6,516,510,033 in the cams period of 1920. By United Financial NEW YORK, July 18.—Imperial Oil has cut the price of Canadian crude oil 25c a barrel to $2.63. By Vnited Financial PITTSBURGH, July 18.—Corning crude oil has been reduced 16c a barrel to $1 90. By United Financial WASHINGTON. July 18.—Preliminary figures of the United States Department of Agriculture indicate the domestic beet sugar crop this year will be only 586,517 tons, against about 900.000 lor the last year. Only 006,000 acres were planted to beets this year, against 882.000 last year. INDIANAPOLIS PRODUCE Eggs—Fresh. 19 ® 20c. Butter—Packing Stocks. 18® 19c. Poultry—Fowls, 10 ® 20c; leghorn fowls. 15c: broilers. 1% to 2% lb size. 34e; broilers under 1 % lbs.. 12c •tags, 12c; young hen turkg, 3 lb. turks. 12 lb* up. 28c: cud thin turkeys not wanted: ducks. 4 lbs and up. 15c: geese. 10 lbs and up, 12s; squabs. 11 lbs. to dozen. $0: old guineas, per dozen. $3 Butter—Local dealers are paying 37® 38c per lb. for butter delivered In Indianapolis. Autterfat—Local dealers are paying 36® per lb. for butterfat delivered in Indisimpolis.

Prev. High. Low. Close. close. Ray Cons... 10% 16% 16% U. S. Smelt.. 41% 41% 41% Oils— Cal. Petrol.. 02% 61% 61% 6] Cosdeu 44 % 43 % 43 % 43 % Houston Oil. . 75 % 75 7.7 % 74 % Invincible Oil 14% 13% 13% 14 Mex. Petrol. 162 160 101 159% Mid. S. Oil.. 13% 13% 13% 13% Mex. S. 8... 33 32 32% 31% Pan-A. Petrol. 72% 70% 72 71 Pacific Oil. .. 57 % 56 % 50 % 55 % Pierce Oil . . 8 8 8 8 % Pro. anil Ref. 39% 37% 37% 39 Pure Oil .... !)% 28 % 28% 29 >4 Roy. Dutch.. 57 50 50% 50% S. Oil of Cal. 105% 103% 104% 104 S. Oil of N.J.182% 182 183 Sinclair 32 31% 31% 31% Texas C 0.... 46 % 45 % 45 % 45 % T. Coal 4 Oil 20% 25% 26 25 % Trans-Con Oil 17 10% 10% 16% Union 0i1... 21 20% 20% 20% White 0i1... . 8 % 8 % 8 % 8 % Industrials— Allied Chem. 69 67% 69 08% Adv. Rumely 18% 18% 18% 18 Aids Chaim.. 55% 54% 55% 54% Am. Can.... 57% 56% 57 50% Am. Ice 112% 110% 111 110 Am. Linseed. 84V* 34% 34% 34 Am. Woolen. 92% 90% 91% 90% Cent. Leather 39% 39% 39% 38% Cocoa Cola.. 71% 70% 70% 71% Comp. 4 Tab. 65 65 65 Cont. Can... 71% 70% 70% 70% End Johnson 84% 83% 84% 82% Fam. Players 73% 72% 73 73% Gen. Asphalt 70% 69 70% 68% Inter. Paper. .74% 52% 53% .73'a In. Harves. . .104 % 101% 104 101 Loews 15% 15% 15% 15% May Stores ..119 117% 119 -■• - - Moot. & Ward 22% 23% 22 . 22% Nat. Enamel. 40% 55 '4 50 54 % Nat Lead 103% 100 102% 100 Pitts. C0a1... 64% 63 64% 63 Sears Roebek 80 % 79 % 79% >9 U. S. Ret. St. 67% 65% 65% 66% IT. S. C. I. P. 34 32% 34 33 U. 8. In. A. . 01% 60 00 00% Worth. P. .. 52% 52 52 51 % Wortlworth .103% 1(13% 163% - - I tilities— A Tel 4 Tel. 14% 121% 121% 121% Brook. R. T.. 20 25% 25% 30% Consol. Gas , 125 H I*J4 124% 1‘— ’ % Columbia Gas 01 80 % 00"* 89% People's Gas. 87 85% 86% 8. Western U. . 10.*i 103 103 KU% Shipping— Am. In. C. . 43 4” % 43 Am S. & C. 10% 10% 10% 10% At. Gulf. ... 37 % 30% 37 3< 111. M. M. . . 18 >8 18 % 18 % 18% In. M M pfd. 71 V* 70%, 71% 71 United Fruit. 145 % 14*2 %' 145 roods— Am. Sugrar. . 70 7 * 70 TP% % Austin N. .. 27 % 27 % 27 1 ? 27 S* Corn P 104% 104% 10 1% 123% Cuba C. 8. . . 10 in 10 10 Cuban-Anv S. 23 7 s 23% 23% 23% Wilson Sc Cos 42 42 42 41 % Tobaccos— Am. Sumatra 30% 30 30% 37% Am T Cos. .143% 142% 143% 142 Gen. Cipar . 77 70 % 77 70 Tobacco P. . 81 70 % 71* % Miscellaneous Stocks— Alaska Gold % % % - ■ . j Am. Radiator 05% 05% 05 % 08% Term. Copper 10% 10% 10% C. Copper . 20% 20% 20% 2?* % Gt N Ore.. 40 30% 30% 30 % iVh W Va. 30 38% 38% 38% CCC&St LR 70C} 70% 70% 70% Perro M . 34% 33% 34% 33 P* J R B ’ 40 % 40% 40 % 70% Reynolds S. 44 % 4 4 % 44% INDIANAPOLIS STOCKS —July 18— , Storks Bid Ask Tnd Ry & com 57 Ind Ry Sc Light pfd .... 84 *j 80% Indpls St Ry 45 Indpls N W pfd 51 Indpls Sc S Y. pfd 00 T H I A L pfd 75 T II I A K com 1 T II I Sc E pfd 2% U T of Ind coni 3 r T of l!,d 1-t pfd 10 15 C T of Ind 2d pfd 1 6 Advance-Rumely pfd ... Advance-Rumcly com 17 ... Ap> Central Life ..... 200 Am Creosotnur pfd 04 •Belt Pv R com 55 •Belt R R pfd N 50 % ... Century Bids Cos pfd fU Citizens Gas Cos 20 City Service com 200 210 City Service Cos pfd 00 08 Dodge Mfy pfd .... . Home Brewing’ 55 ... fed • -t r r . w . w r . >7* ~ . •Ind Hotel Cos pfd f*D ... Ind Nall Lib'* Ins Cos 2 *. . . •Tnd Title Guarantee 50 ... Ind Pipe Lines 89% ... Indpls Abattoir pfd 40% ... •Indplft Gas . . 45 Indpls Tel pfd 90 Indpls Tel com 1 ... Mer Pub Utl pfd 50 Natl Motor Car Cos 2% 4 Pub Savinjrs Ins Cos b ... Rauh Fert pfd 49 Standard Oil of Indiana . 100% Sterling Fire Insurance Cos . 7 % Van Camp Hdw pfd .... 90 Van Camp Prod Ist pfd 100 Van Camp Prod 2d pfd 100 Vandalia Coal Cos com 1 5 Vandalia Coal Cos pfd 7 12 Wabash Ry pfd 31 34 Wabash Ry com 1.2 15 Bonds Broad Ripple 5s 62 Citizens St R It 5s 83 88 Indiana Creek Coal Sc M 6s Ind Coke Sc Gas 0s ... Indpls C St S 5a 92 Indpls Sc Martinsville 5s .. . 01 % Indpls Northern 5b 40% 50 Indpls St Ry 4s 05 07 % Indpls Sc N W 5b 55 00 Indpls Sc S E 5s 40 Indpls Shelby & S E 59 05 . . . T H I A E ,if> 04 % Citizens Gas 5s 83% 87% Indpls Gas 5s 85 % 87 % Kokomo M & W 5s 88% 92 Ind Hotel Cos 0s 99% Indpls Water 5s 90% 100 Indpla Water 4%s 80 Indpls T Sc T 5s 82% 86 Indpls L Sc H 5s 91 % 93% IT T of Ind 0s 59% 02% Mer HAL 5s 99% New Tel L D 5s 97 ... | New Tel Ist 0s 97 South Ind Power 0s . . •Ex-dividend. , , IN THE COTTON MARKET By United Financial NEW YORK. July 18.—Cotton was I steady at the opening: today, being: off 3 to j 5 points up. Selling by Southern wire houses and locala was readily absorbed by buying of j Wall Street. commission houses. New Orleans and trading interests. Prices advanced 10 to 17 points from the opening in the first fifteen minutes of deal- , ing. i Demand from the local trade appeared j and the market rose from 3 to 25 points : from yesterday's close. Around midday the tone was steady to j firm and feeling was bullishiy affected by I betterment of stock prices and foreign ex- * change. In the early afternoon the market held steady. COTTON FUTURES Open. Hieh. Low. Close. | January .... 21.57 21.15 21.57 21.81 March 21.55 21.80 21.55 21.72 May 21 45 21 70 21 45 21.57 July 21.75 22.04 21.75 21.93 October .... 21.95 22.23 21.95 22.15 December .... 21.83 22.10 21.82 21.03 By United Financial NEW ORLEANS. July 18.—The local cotton exchange opened with trading steady today following a night of no important developments in the cotton world. Futures were from 5 points below yesterdays close to 3 points above. October opened at. 21.48 c unchanged: De- . cember, 23.28 c, off 3 points: January. 21.24 c. up 3 points, and March, 20.99, off 5 points. The market rallied during the morning and futures were up 12 to 26 points from the opening. By United Financial LIVERPOOL. July IS.—Spot cotton wm j quiet at the opening today with prices easier, sales eloae to 6,000 bales and receipts around 5.000 bales, including 2,500 American Futures opened steady NEW YORK SUGAR By United Financial NEW YORK. July 18.—The raw sugar market was firm today. Refiners are said to have bid 37-16 c cost and freight for Cuba* August-shipment, up l-16e from the last previous sale. The American Sugar Refining Company bought some ten thousand to twelve thousand ton* of poor to fair Ricos for July and August shipments at 5c cost and freight. Raw sugar opened steady NEW YORK METALS By United Financial NEW YORK. July 18—Copper—Steady: spot and August. 151* @ls %c. bead— Quiet, spot and August offered. o\c. Spelter—Steady; East St. Louis, spot and Auguat. 5.67 He bid.

THE LNDiAiNAPOLIS TIMES

HODS STEADY IN SLOW MARKET; RECEIPTS LIGHT Cattle Prices Steady With Offerings Sufficient for Demands. RANGE OF HOG TRICES. Good Good Good July mixed. heavy. light. 11. sll.lO-11.15 $ll.OO-11.25 $11.40 12. 10.95-11.10 10.75-11.00 11.15-11.40 13. 10.95-11.10 10.75-10.95 11.15-11.35 14 10.80-11.00 10.61-10.87 11.00-11.25 15. 10.80-10.85 10.60-10.80 11.00 17. 10.65-11.15 10.65-J0.85 11.15-11.35 18. 10.85-11.00 10.65-10.85 11.15-11.35 With both the shipping- and packing demands slow and receipts around 5,000, swine prices were steady to 10 to 15 cents lower in trading on the local live* stock exchange today. Trading was extremely slow and but few of the receipts had been sold iat a late hour in the forenoon. A heavy holdover for the market of the following day was anticipated. Cattle Prices Steady Cattle prices were steady generally, with receipts for the day close to I, the quality fair to good and the packing demand fair. Good grades moved more rapidly than did the commoner kinds. Calves again were steady. Receipts for the day were fair at 700. the qual- ! ity good and the shipping demand fair. Both sheep and lambs were steady. ! Receipts were light at 400, the quality fair and the demand good. —Hog.— 100 to 150 lbs average $11.15 011.35 Over 300 pour.ds 10.50'i< 10.65 150 to 300 lbs 10.65011.15 i Best pigs, under 140 lbs . . 11 00'ij. 11.25 ! Roughs 8.25t0 8.75 - Top .. 11 -35 i Bulk of sales 10.76011.15 ! Stags 7.00t0 8.00 —Cattle— Kew choice steers 1®00010.50 : Prune corn-ted steers, 1.000 to 1.300 lbs 8.50 0 9.00 Good to choice steers. 1.000 to 1.300 lbs 8.000 8.50 Good to choice steers. 1.000 to 1,200 lbs 7.600 8.00 Good to choice steers. 1.000 to 1.100 lbs 7.25® 7.60 i Common to medium steers. | 800 to 1.000 lbs 6.50® 7.25 —Cows and Heifers—i Few choice heifers 9.50 010.00 Good to choioe heifers 8.25® 9.00 i Medium heifers 7.750 8.25 ! Cumipou to medium heifer# .. 6.60® 7.60 Good to choice cows 6.750 0.60 Common to good cows 3.75® 5.76 ' Fanners 2.50® 3.60 Cutters 225 ® 325 —null#— FHny buG-ht'r bulls 6.25' r £ 550 j Good to bub her balls. 5.01 H& 5.25 * Bo'oicna bulls 3.sortf 3.75 ! Lurht b!o*na bulls 3.oofij 3.25 Light common bulls 3.003.50 —(Hives—- ; Choice veals 10.00^10.50 ; Good veals 9.50 <({, 10 00 Medium veals 8 00<G 9.00 Lightweight veal* 2.00 V 800 Heavyweight veals 8.50fe. 7.00 Fair to medium 6 000.50 j Top 11 -00 —Stockers and Feeders—- ! Good to choice steers under SOO lbs 5 25(3 7.50 Medium cowa* 350 ft 375 Good coh .. . . 4.00@ 465 | Good heifer* Medium to ffood heifer* ... 450 5.75 Milch eora and ftpnmrers. • —She*p wnl Umbs— Cull evre* 1.50(® 2.00 Good to choice ewes 2 60*$ 5 00 Bucks Yearling:* 6 00<u 8.50 ‘.springers 9 00^13.00 CuU • OTHER LIVESTOCK By l nited Financial CHICAGO. July Ik—Hogs Receipts 2,200; market, 104120 c up: top. sll O' bulk us sales. $8.7.7 :q 11 . heavy welsh!. 810.2(7010.70. medium weight. slo.oo® 11. lightweight. $10.90® 11 0.7. light light-.. $lO 50® 11 : heavy packing sowh, SB.4(V-C 0.26: packing sows rough. $78,7 0 8.70; P'gs $9 75 <i£ 10.50. Cattle Receipts. 12.000: market, steady to strong: choice and prime. slo.lo® 10.86: medium and good, $8,400 10. Hi common. $7 2.>®B 40, good and • hotce, $9.15® 10.40; common and medium. $7.1509,1.7: butcher cattle and heifers, $.7.3.19: cows. $39008 1.7: bulls, -i 100 6 7.7; canne-rs. cutters. cow# and heifers. $2.600 3 90. canner steers. $3.10t0 .1.25: v<al calves, $8 1009.75; feeder steers. $.7,6.7 0 7 7.7; stoke r steeirs. $4 7.70 7,6.7: stocker cows and heifers. $3,700,171. sheep Kcceipts, 12.000. market, steady to weak lambs. sl2 500 13.00; lambs cull and common. $7.10012.27: yearling wethers, s9® 11 75; ewes $5.50 0 8 1,7: cull to common owe*#. $2 05. CINCINNATI. July 18.—Hogs—Receipts. 2,500; market, steady to 10® 17c higher: heavies. $10.70010.90; mixed. $11; medium and lights. sllOll 25; pigs. $10.10; roughs, $8; s*ags, $5,2.7. Ca'tle—Receipts. 600: market, steady: bulls, weak, calves. $lO down. Sheep and lambs —Receipts. 4.000, market. steady; ewes. $. down; ehoicfs lambs, sl4 down; seconds, $9.70; culls. $4 06. CLEVELAND, July 18.—Hog#—Receipts, I. market. 5c up. yorkers. sll 05: mixed. $11.70: mediums. $11.25: pigs. $11.65; roughs. $8.60; stags. $.7.50. Cattle ;—Receipts. 250: market, slow: good to choice, steers. $9.2509.75; good to choice heifers, $0 770 7.25; good to choice cows. $4.500170: fair to good cows, $3.50® 4 70: eomomn cows, $2.70 0 3.50; good to choice bulls, $506; tnilchers. $2507.7. Stieep and lambs—Receipts, 2,500: market, steady: top, $13.50. Calves—Receipts, 300: market. 50c lower: top, $11.50. EAST ST. LOUIS. July 18.—Cattle—Ro ceipts. 0.000; market, steady to 15c lower; native beef steers $5.750 10.25; yearlings, steers and heifers, $3.75 010.25: cows. 3.75 0 6.75: Blockers and feeders. $3.75® 7.2.7: calves, $8.500 9.50: cows and heifers, $3,250 3.50. Hogs—Receipts. 7.500: market. 20040 c up: mixed and butchers, $10.50 11. good to heavy. $10.40® 10.80; rough, i S7O 8.50; light, $10.75011.10; pigs, $10.25 i 010.85: bulk, $10.85 011.05. Sheep—Re- ! ceipts. 4.000: market, steady: ewes. $56.50: j lambs. $203; cturners and choppers, sl3 i <Bl3. | KANSAS CITY, July 18.—Hogs—Receipts, 8,000; market. 5c to 10c up; bulk, $9.10® 10.35; heavies, $0.55® 10.40; butchers. $lO 05® 10.35; lights, $10.15 it 10.40: pigs, $9.500 i0.50. Cattle—Receipts, 12,000; market, slow, steady; prime fed steers, $9 (10® 10.30: plain to fair dressed beet steers. $7.50®9.65; western steers, $7.25® 9.60: southern steers, $508.00: cows, $2.250 7.15: heifers, $5,259.60: Stockers and feeders, $408: bulls. $2 4006.25: calves, $45009. hocp—Receipts, 6.000: market, 25c up: lambs. $11.75® 13.50: yearlings, $8.50 0 10.50: wethers. $0.50® 77.7- ewes $507.50; stockers and feeders, $9.2501176. EAST BUFFALO, July 18.—Cattle—Receipts 600: market slow, easy: shipping steers, $8.7510.50: butcher grades, sß® 8 75* rows, $2.5000.75. Calve#—Receipts, 800: market, slow. 25c lower; eulls to choice. S4O 11 Sheep and lambs—Receipts. 1,800; market slow, 25c lower; (choice lambs. $13014: cull to fair. s6® 12- yearlings. $7011: sheep, $3 08. Hogs— Receipts. 4,000; market, slow, steady. 16c up; yorkers. $11.75011.90: pigs. $11.90® 12- mixed, $11.50® 11.76: heavies. $11.25® 14; roughs. $808.75; stags, ss®6. WOOLEN BUYERS CALMER ; Figures Announced by American Have Quieting Influence. By United financial NEW YORK, July 18.—Buyers here today generally showed a calmer feeling toward textile prices as a result of the figures named by the American Woolen Company on its spring lines, which were opened yesterday. The quotations are lower than the recent top advances and buyers were inclined to feel that they had won at least a partiall victory In their stand against price advances at this time. While advances are believed inevitable, the keenest sort of competition is looked for, and this, of course, cannot but help those who come Into the market. The cotton cloth trade in general Is quiet.

GRAIN TRADING DDLLFROM FEAR OF RAIL STRIKE Wheat Fractionally Lower on Cable Reports and State of Weather. By United Financial CHICAGO, July 18. —Grain prices closed irregular on the Chicago Board of Trade today. Trading was dull throughout the day, most of the local houses fearing to enter the market until more definite information is received regarding the possible duration of the rail strike. Wheat was fractionally lower on de- | dines in Liverpool and more favorable weather from the Northwest. Com followed wheat, with less demand from exporters and reports of good crops in Towa and Illinois. Oats showed some strength on buying by houses with Kastern connection and prices were higher. Provisions were higher. July wheat opened up %c at and closed unchanged. September opened up %c at sl.l2 a a and closed off %c: December opened up %c at $1.14% and closed off %c. July corn opened unchanged at 62c and closed unchanged. September opened unchanged at 64c and closed off VgC. December opened up Lgc at 61%c and closed off tic. July oats opened unchanged at 34Vic and closed up %e. September opened unchanged at 36% and closed unchanged. December opened up 7 4c at 39c and closed up 14c. CHICAGO GRAIN TABLE July 18— By l nited Financial WHEAT— Open. Hieh Low Close. July... l.lfto l.lnt, 114 1-14 1 * Sept . . 1.12 \ 1.12 \ 1 .11 ** 1 12 Dec.... 1.14% 114% 1.14 1.14', CORN— July... .62 .02% .62 .62 Sept .04 ,04'. .03", 03% j Dec 61 4. 61 'a 60% .01 % OATS— Julv. . . .34'* 34 'n 34'# 34% j Sept .76 % 30 \ .30 .36' Pec 39 .39% 39 .39 ‘ * LARD— Julv... 1090 1097 1088 10.97 Sept . . 11.05 11.10 1100 11.07 RIBS—•JuIy 10 05 I Sept 10.65 10.6.7 10 02 10 02 RYE— July 83 % 83% 83% 83% Sept. . . 81 % 4 81 % 81 % •Pee. .83% ; • Nominal CHICAGO CASH GRAIN . tty United Financial CHICAGO. July 18—Wheat —No. 1 red. $115%: No 2 red. $1.14%: No. 3 red. $1 14: No 2 hard. $1.10%: No. 3 hard. $1 16%. Corn —No 1 yellow, 04 %e: No. 2 vellow, 04 %<• No. 3 yellow 04c: No. 4 vellow, 03c No 5 yellow. 62 to.- No. 6 yellow, 02 %c No 2 mixed. 04c. No. 4 mixed, 63c: No. 6 mixed. 01c No. 1 white. 04 %<• So 2 white. 04 Hr: No 4 w hite. 03c; No 5 white, 02 % : No. 0 j white. 61 %o Oats—No 3 white. 34%0 ; ! No 4 white. 34.- Rarley—Cash. .79t009. Rye—Cash. 86 %c. TOLEDO SEED AND GRAIN —July IS— By United Financial TOLEDO. Ohio. July IK—Wheat —Caeh. ! 51.1 rt; July. 51 14; SI 14% : December. $1.17% Corn —Cash. 72%<* Oats—-Cash- liyferrCath. 86' Barley —Cash.* BRA n oversea ri -Cash. 513 Ortober ami Pet-ember, $11.02% Timothy —Oash. $7.70; September. $7.00 October. 57 HO. Alaike--Oash t Augniftt. October ami December. $10.50. INDIANAPOLIS CASH GRAIN —July 18— Rtds for car lots of grain and hay at the call „t the Indianapolis Board of Trade wen Wheat—Steady No 2 red, $1.02® 103. Corn—Firm: No. 3 white, 59%®00c: No 4 white. IS % ® 19.- No 3 yellow 59® 59 %c; No. 4 yellow, 58®58%0; No. 3 mixed .78%®'59': No. 4 mixed. 57% ® 58c. 1 Oats- —Steady. No 2 white. 34% ® 35c: No 3 white, 33% to 34'-. Hay—Weak: No 1 timothy. sl7® 17.50: No 2 timothy. sl6® 10 50. No. I lirbt clover mixed. sls® 1560 No 1 clover hay. $11.50® 15 New hay quotable at $2 .70® 3 under old —lnspections Wheat—No. 1 red. 2 cars: No. 2 red 60 cars No 3 red, 28 oars: No 4 red. 7 ears: No 1 mixed. 1 car No. 2 mixed. 1 car sample. 5 Mrs Total. 104 car# Corn —No. 1 white. 1 car: No. 2 white. 1 car No. 3 white. 5 cars: No l white. 6 cars No 5 white. 5 cars: No. 2 yellow. 1 car: No. 3 yellow. 7 cars; No 4 yellow, 11 cars: No. 5 yellow, 7 cars; No 0 yellow. 4 ears: sample yellow. 1 ear: No 2 mixed. 1 car; No 4 mixed. 2 cars. No 5 mixed, i car. Total. 53 cars. Oats —No. 2 white. 1 car: No. 3 white, 14 ears, No. 4 white. 6 ears: sample white, 1 car Total. 22 ears „ . .. , Rye—No. 2. 2 ears; No. 3. 1 car: No. 4, 1 car. Total, 5 cars. Total number of cars for day. 184. Grain prices quoted f o. b. bams 41 aerate to New' York. PRIMARY MARKETS (Bv Thomson & McKinnon.) —July 18— Receipt* Wheat Corn Oats. Sioux City . 13.000 45.000 44,000 St Joseph . 22.000 30.000 Chicaro . . . 219.000 608.000 249.000 Milwaukee 6,000 38.000 99.000 Minneapolis 218.000 '0.099 65099 Duluth . .. 116.000 142.000 d,.000 81 Louis . 158.000 111.000 102.000 Toledo ... 67.000 13.000 18.000 Petroit . . 6.000 5.000 16,000 Kansas City 313.000 86.000 TO9O Peoria 55.000 24,000 29.000 Omaha . .. 121.000 27,000 20.000 Indianapolis 75.000 57.000 30,000 Totals 1 389 000 1.208.000 718.000 Year ago 3.964,000 516,000 471.000 Shipments Wheat. Corn. Oats 9ioux City 4.7,000 30.000 St. Joseph . 5.000 53.000 •■- •• • Chicago • . . 324,000 622,000 121.000 Milwaukee 4.000 11,000 10,000 Minneapolis 91.000 107.000 130.000 Duluth .. . 223,000 St. Louis .174.000 95,000 97,000 Toledo . . ■ 3,000 2.000 Kansas City 203.000 55.000 5 5.000 'J-990 Peoria .. . 8,000 47.000 49,000 Omaha . 65,000 130,000 - r >-900 Indianapolis 14,000 10.000 Totals .1.100,000 1.211.000 530,000 Year ago 950.000 8.70,000 289,000 (lfriKW Wheat. Com. Oats. New York. 136.000 80,000 30.000 Philadelphia 134.000 • • •• ■ ■••••• Baltimore. 84,000 10,000 New Orleans 40,000 43,000 Totals . . 300.000 167,000 40,000 Year ago 304,000 235,000 50,000 CORN AND WHEAT BULLETIN For the twenty-four hours ending at 7 a. m. Tuesday. July 18. 1923. Temper- j aturo <8 | 6d I o Stations of J<s I "3 to 5 j Indianapolis _ a ® Sefl District *"g S ftfi .a ® usfl fcs? if § g~ §| §gw a K jjl a*-sws 1 a ox; South Bend ... 87 |64 ' 0 Good Angola ....... 86 I 0o 0.04 Good Ft. Wayne 88 1 86 0 Wheatfleld 87 j6O 0 Good Royal Center ... 84 04 0 Good Marion . 87 68 0.05 ! Good Lafayette 87 | 68 0.03 ! Good Farmland 90 68 0.8.7 1 Good Indianapolis .... 88 | 69 0.14 i Good Cambridge City . 89 J 67 0.99 ! Fair Terre Haute .... 90 170 0.08 ] Bloomington ... 92 ; 68 I 0.35 i Good Columbus 95 69 j 0.30 Good Vlneennes 96 { 70 ! 0.40 Good Paoll 89 !69 ! 0.01 Good Evansville I 92 I 70 I 0 08 I J. H. ARMINGTON. IfeMorologist, Weather Bureau.

Hundred Million Dollar Baby

'

Robert Goelet, Jr., sits there in the auto just like any other baby you might happen to know, but statistical sharps figure his fortune as the son of Mr. and Mrs. Robert Walton Goelet, New York, is $100,000,000.

LLOYD GEORGE BLAMED FOR SETTING SLOVENLY FASHION

By United Xcws LONDON.—Being prime minister and all that sort of thing, it does seem that David Lloyd George might have his trousers pressed—say. once every fortnight, or, at least, once every quarter—doesn’t it? Also, doesn't it strike one as jolly awful taste for the prime minister to appear on a semi-formal occasion in a gray business suit? Shouldn t King George have his trousers pressed fore and aft, instead ■ of down the sides? | •’Strewtn" it does strike the London ! Tailor and Gutter about like that, and | the Tailor and Cutter is the official j magazine of the smartest London LIMA LOCOMOTIVE UP Curb Dealings Featured by Advance to 54, New High for Year. Bi I nited Financial NEW YORK. Juiv 18. —Lima Locomotive, selling on a when issue basis, j featured dealings on the curb today I with a rise of 54. a new high for the 1 yeax. The subscription rights closed I at 4%. up 1% points. \- these i rices, present Lima SIOO par stocks has a value m the new j common and rights of 111%, compared | with the last sale on the stock ex- i change at 110. The rise of Mother Lode coalition to ; : in’s was in anticipation of its listing ! on the big board. Daniels Motors was another stock which enjoyed a rise during the day,; reaching a high of 163. The oils and the entire market j ' closed irregular. MARRIAGE LICENSES William H Sholiey. 814 E. Maryland St.: Mattie .1 Main. 48 N Mi’.ey Ave. John C Bond. Muncle: Margaret Eaton, 27 N Walcott St. William E Hussey. 2339 N. Capitol Ave.: Vnna T Smith. 1946 Ashland Ave. Ralph K Evans. 913 Oakland Ave.: | Virginia V'. Carter. 1968 Oak Ave. Chester H .la.-kson, 2258 N. Jefferson; Ave , Edna Mansfield, 2449 N. Illinois 3t , BIRTHS Boy# Benjamin and Loretta Hu-key. 1130 E ; Pratt _ John and Ida Smith. 630 N. Colorado. Ethel anil Henrietta Cobb. 1011 S. Persh-1 : mg ! John and Katherine Sluder. 1235 W. Twenty-Sixth. Girl* Nelson and Helen Sumner. 2331 N j Meridian Edward and Bessie Herner. .716 Birch. William and Ollie Bell. 835 Fayette. Thomas and Viola Hillman. 410 Harlan, j George and Alba Blackwell. 11 La : Grande. William and Essie Shanks. 918% Laurel. Everett and Irene Irish. 917 North Rural. : Rov and Laura Meddle. 273 North Elder. Joseph and Hazel Teen. 1703 Sheldon. ; Lawrence and Marion Fall. St. Vincent Hospital. Eari and Shirley Spencer, St. Vincent j Hospital. Paul and Maude F.apron. St. Vincent Hoe l pita!. ■ Cluster and Bernardine Dennis, St j Vincent Hospital. DEATHS Oval D Fulton. 21. 510 Division, pulmonary tuberculosis. Charles Dorset. -. Live Steam Sanatorium. cardiac dilatation. Ora E Cooper. 57. Deaconess Hospital, intestinal obstruction. George S. Leachmau. 66. 34 N. Elder, carcinoma. Edwin Forrest Williams, 51, 930 N. Alabama. cirrhosis of liver. Henry A Burke. 50, Methodist Hospital, thyrotoxicosis. _ _ Arthur A MoElrath, 57. 3.33 Boulevard PI., diabetes mellitus. Pearce W. Bell, 56. 618 W. North, bronchitis. M . John W. Fanning. 67. 238 W. ThirtyFirst, encephalitis. BUILDING PERMITS A Huston, dwelling, 709 Porter, SBOO. Hobart Rogers, garage, 105 S. Bradley. | $125. | Indpls. Wire Bound Box Cos, shed. 1300 Beecher. $6,000. E. A Campbell, dwelling. 947 N. Keystone, $3,700 M L. Hendrixson. addition, 2379 Adams, $J .200. George R. Arels, double, 5218 E. Walnut. $5,500. „ J Wakefield Patton, Bldg. Cos, dwelling, 1326 Comer, $3,000. C. V. Thomas, shop, 948 Alton. S2OO. Goldstein Bros, remodel. 148 E. Washington. SI,OOO. J. H. Patton, garago, 1748 Brookside. SIOO „ _ „ _ , j D. Buchanan, dwelling. 2942 I*. Delaware. $5,000. E. T. Hiatt, garage. 3901 Byram. $l9O. Oliver Pfaffcnberger. cellar, etc, 1059 Udell. $250. Indpls. Light & Heat Cos, addition, 48 Monument Circle. $60,000. j. J. Tudor, dwelling. 902 Luett, S6OO, C. C Costin, garage. 2605 N. Olney, S2OO. Osoar Heider. addition. 4139 Guilford. S2OO. David Kriegor. addition, 114 3. Meridian, $1,250. R. E. Thompson, remodel dwelling, 6284 Central, $1,500. Charles W. Paterson, rtroof. ,1915 Hoyt. $225. Oscar Miller, remodel, 349 N. Sherman, SSOO. Maria MeLeer, garage, 2331 Central. S4OO. J. H. Lunford, building, 1644 E. Le Grande. $1,300. M. E. Scudder, reroof. 2202 Prospect, $370. Report Will Be Hoard Report of a committee working for a community house will be given at the regular meeting of the Southeastern Improvement Association at Shelby and Bradbury Sts., 8 o'clock Wednesday evening. Negro Round to Jury J. TV. Baker, colored, was bound over to the grand jury today under r $2,000 bond in city court. He is fi leged to have stolen a watch worth S6O from E. Gardn#r, 30 N. Delaware St.

! tailors, who have been more than a little perturbed by sartorial careless ness in the high places. The magazine, which prescribes the fashion plates of Mayfair, has an alarmed article on the matter of radicalism in dress, and mentions par- | ticularly the King’s own new style of trousers, pressed along the sides. This style is deemed just as bad as a white waist with a dinner jacket. "We must confess.” says the article, "being disappointed and slightly astonished by Lloj and George's choice of clothes. A light gray suit doesn't strike us as correct wear for a gathering at which there is a certain amount of formality. The prime minister’s clothes also show few signs of having been pressed." The premier is blamed for setting shall one say. a slovenly fashion? Yes. it is his fashion which is being fol lowed hv the cabinet. Take Lord Bal four, for instance. His philosophic de [ taehment is reflected in the careless ; ! ness of his clothes and his had habit i of pulling down his lapels. Winston Churchill is versatile and j original in dress, the Tailor and Cuti ter says, and he can be conventional j on large occasions. EPICURES FACE BEAN SHORTAGE, REPORTS SHOW Hoover Employs Men to Relieve Situation, Which Appears Serious. WASHINGTON. —There are many shortages these days: shortage of coal, ! jobs, business, hard-working men, homely women, and “right-thinking.” Also a shortage of beans. ! The bean shortage is sufficiently I terrifying to cause Secretary of Conij merce Herbert Hoover’s hired men to [ investigate it. Food Costs Responsible Tt appears from the repor.s of the ; Federal investigators that America: ; has become a Nation of bean-eating j i fiends. The high cost of other food j products is largely responsible. We are now eating more beans than ; we raise and for months American ; buyers have been scouring the world ! :to meet the home demand. I For the first time in several years 1 Mexican beans are now coming across ; the border —preferably the Mexican I jumping bean, which mixes so palatably with California hops. American buyers are hopping from one Mextcf n bean market to another bidding for the jumpers. Exhaust French Supply American bean buyers are also storming the bean marts o / France, with the result, as Wesley Frost, U. S. consul at Marseilles, writes in, "that local stocks have been ex hausted.” In April and May alone France sent 100.000 bushels of beans to the United States, as against 6.000 bushels for the entire year of 1920 and 11,000 bushels during 1921. With the bean shortage a reality, American families would do well to lay in their winter bean supply early, before prices go higher.

Money to Loan On High-Grade Business Property We are in a position to make high-grade real estate secured loans. If you are contemplating the erection of anew building or the remodeling of your old one, investigate the “J. F. Wild & Cos. Plan.” We specialize in the financing of sound business enterprise. BOND DEPARTMENT e**ft*dtn!d9l WggJ' tacorpenMUtUOft J.F.Wild &Co*Stateßank agtatmiawg bdwnapota ( msitLs&i

JULY 18, 1922

DISREGARD OF STRIKES CAUSE OFMUCHWOm Both Railroad and Coal Hava Had Slight Influence on Stock Market. EXPLANATIONS ARE OFFERED Wall Street Attitude Held Confident of Revival in Nation’s Trade. By IF. //. GRIMES, United Financial Staff Correspondent. NEW YORK. July 18.—The almost total disregard displayed by the stock market toward the railroads and the coal strikes is an increasing source of wonder to market observers. Both strikes are becoming more serious and both defy all efforts to date to settle them. Yet through it all the market holds its own and the very securities affected by the strike hold firm, and even advance. There are several explanations foi this. One explanation is found in the old Wall Street expression about being “a hull on the prospects of the country.” In other words. Wall Street sees a business revival that strikes are checking, but will leap ahead when the strikes cease. A more potent reason is the money rates. Money can be for 3 per cent, the official rate. On the outside it can be obtained for 2% per cent. This, of course, is call money, repayable on demand. Money loanable from sixty to ninety days can be obtained at 4% per cent, and in some cases 4 per cent. Any trader, of course, is glad to borrow at these rates to buy securities which pay 5% or 6 per cent. Traders have never found an easier way of making money than that.

A third explanation is found in Wall ' Street's attitude toward labor Wall ! Street does not spend half its day | plotting to supress the laboring men j as some union leaders would have thp I country think. However, Wall Street has never ‘been found advocating higher wages. Now Wall Street be- ; lieves that the railroad, coal and tex- | tile strikes are part of the process of i deflation—that labor will come out of them with lower wages. Viewed with this attitude the strikes in the long run would not be wholly detrimental. When the railroad strike began to assume serious aspects, certain large Wall Street houses began to put out feelers by selling railroad stocks. The rate at which these stocks were absorbed soon convinced them that the speculative and investment sentiment had not been hurt. Pending the outcome of the various strikes now on. various small pools are trying to whip up speculative in- ! terest in several stocks, one of which iis Baldwin Locomotive. This stock | shows ample ammunition for a bull movement with large railroad eqijaa ment orders coming in, but the wan manaement lends no aid to the pool. sll HOGS ARE BACK Prices on All Grades Show Advance of About 20 cents. By United Financial CHICAGO, July IS. —The sll hog reappeared in the Chicago stock yards today, prices advancing on all grades about 20 cents. Receipts -of 22,000 supplemented by a stale supply of more than 12,000 proved insufficient for a strong deiiwtnd from local traders and the big packers. Only about 100 hogs were shipped direct to killers from other markets. The cattle market was strong and steady with little change in prices. Choice grades were about 5 cents higher, but common grades were poor and in little demand. Receipts were 12,000, which was considerably under expectations. Sheep prices were weak. Receipts of 12,000, all of which went to the market, proved too plentiful for a light demand. The market was slow and easy. French Spoken Less PARIS.—With the advent of the .ourist season French is becoming rarer and rarer in the central part of Paris. One can walk from the Madeleine Church to the Rue Montmartre without hearing the native languaMa In the fashionable restaurants is even rarer. Movie Prices. Lowered PITTSBURGH. —The war's over. The majority of the motion picture houses in Greater Pittsburgh have just slashed their prices from 18, 22 and 28 cents to a fiat 10 cents. A few of the high brow theaters with costly orchestras still refuse to come down.