Indianapolis Times, Volume 35, Number 91, Indianapolis, Marion County, 25 August 1922 — Page 13

AUG. 25, 1922

CONSTANT PRICE ADVANCES SHOW ' BUSINESS VIEWS Wall Street Optimism Grows With Assured Financial Inflation. STEEL LEADS INCREASES Basic Material Producers Offset Operating Costs to Advantage. Twenty active industrial stocks Thursday averaged 59.71, off 61 per cent; twenty active rails averaged 92.32. up 29 per cent. By United Financial NEW YORK. Aug. 25. —The Wall Street Journal today says; With prices in the pivotal industries like the steel trade showing a steady upward trend the conclusions is steadily being driven home to Wall Street that the economic situation is definitely entering into a period of secondary inflation. f This swing of the business pendulum was forecast by the persistent appreciation of security values over the last year. h Indications that the curtailment of resulting from the labor troubles this summer has materially hastened the outbreak of the inflatationary cycle resulted in greater upward movement in industrial stocks in today's session. Steel common was the logical leader of the advance because companies engaged inAtae production of basic materials v£ll derive the greatest advantage from a period of relative inflation. They can offset rising operating cost by increasing prices while their inventories improves proportionately. It is true that the best response to steel common’s advance to the highest levels seen for two years was made by public utilities like Columbia Gas and Consolidated Gas. which can hardly benefit from increased operating expenses. Irregularity marked the early trading on the New York Stock Exchange today reflecting the mixed chaiacter of the news developments. The Federal Reserve ratios for local banks and the whole system showed slight decreases. But this was offset by Secretary Hoover's statement that 6.000.000 tons of bituminous coal would be mined this week, equal to three-fourths of the normal supply, and that production next week should reach 7.000.000 tons. Steel common's spurt to 105% *the highest price in more than two wears stimulated the whole industrial list. New highs for the year were attained by Consolidated Gas at ISO 1 !, Columbia Gas at 102*4. Famous Players at P 92%, Tobacco Products A at American Telephone rallied sharply to 121V*. UP 31* from Thursday low. j While Wall Street hurriedly con- \ strued the new $115,000,000 stock offer- j ing as a bearish development, it was evident shareholders formed a different opinion after considering the announcement overnight. Cuban American Sugar climbed to 25% up about a point from Thursday’s low. S’-gar stocks have been generally reactionary in the last week on account of the easier tone of the sugar market.

LOCAL BANK CLEARINGS Indianapolis bank clearings Friday were 1-2.318.000; bank debits were $4,271,000. NEW YORKTIME MONEY By United Financial NEW YORK. Aug 25.—Time money lends at 4 per cent for the short dates. 4% per cent for sixty and ninety days and 4 % per cent for six months. Renewals arranged at 4 to 4% per cent .depending upon maturity. Call bills discount at 4 and 4% Per cent, depending upon maturity dates. NEW YORK LIBERTY BONDS —Aug. 25High. Low. Close. T. b 3%s 100.70 100.62 100.68 L B. Ist 4%5... . 100.78 100 84 100.78 L B. 2nd 4'• s 100.90 100.20 100.20 L B 3rd 4-4..5... 100.38 100.32 100.38 L. B. 4th 4Us 100.78 100.30 100.78 Victory 41. S-..... 100.70 100.60 100.<0 FOREIGN”EXCHANGE By United Financial SEW YORK. Aug. 25.—Foreign exchange easier: Sterling, demand. S4 47 3 . ; cables. 54 47%, up -c. French, demand. .0762 c: ) cables. .0782 He: off .0007 He. Lire, demand. .0436 %c: cables. .0436 %e: off 0003 He Belgian, demand, .0731 He: cables. .0732: oft 0008%c. Marks, demand .0005%e; up 0000 He. Drachma, demand. -0317 c: cables, .0322 c. Swiss, demand. .1905: cables. .1907: off 000 1. Guilders, demand, .3902: cable#, .3005: off 2005. Pe**ta*. demand. .1553: cable#. 1566 c: off .0006 c. Swede, demand. .2678; cable* .2682; up 0009 c. Norway, demand. 1714:’ cables, .1718 c: off .0004. Dane, demand, 22156 c: cables. .2160 c. MOTOR SECURITIES (By Thomson & McKinnon) —Aug. 25 Closing Bid. Ask. Bari Motors 2U 2% Packard common 14% 15 Packs *d pfd $' Fccrkss ~....•••••••••••• oo o*' Continental Motors com 7 i 8 Hupp common 18 H 19 Reo Motor Car If IfH Elgin Motors Grant Motors * Ford of Canada 380 3so International Motor pfd 88 i 89 U Hendee Mfg 23 ~3 % National Motors 2 " Paige Motors 19 -J Republic Truck 3% 3H ACTIVE“b]ITSTOCKS (By Thomson & McKinnon) —Aug. 25 Closing: Bid. Ask. Anglo-American Oil 20 20 H Atlantic Lobos 9H 10 U Borne-Scrymser 390 410 Buckeye Pipe Line 96 100 Chesebrough Mfg Cons 180 190 Continental Oil. Colorado ...135 145 Cosden Oil and Gas ......... 5 11 Crescent Pipe Line 33 35 Cumberland Pipe Line 135 145 Elk Basin Pete 10% 10 H i Eureka Pipe Line 90 92 Galena-Signal Oil pfd 107 111 Illinois Pipe Line 165 175 j Indiana Pipe Line ......... 88 91 Merrit Oil 9 9 % , I Midwest Oil 2 2% Midwest Rig 200 National Transit 26 27 New York Transit 160- 170 Ohio Oil 290 300 Penn-Mex 25 30 Prairie Oil and Gas ••••....800 610 Prairie Pipe Line .........263 267 Solar Refining 335 345 Southern Pipe Line 91 93 South Penn Oil 210 220 Southwest Penn Pipe Lines .. 61 63 Standard Oil Cos of Ind 114*. 115 Standard OH Cos of Kan ..... 530 550 . Standard Oil Cos of Ky 100 H 100% Standard Oil Cos of Neb 175 185 Standard Oil Cos of N Y 445 450 Standard Oil C oof Ohio 450 470 Swan & Finch 32 36 Vacuum Oi' .....460 490 Wnshi- OH 22 og

New'York Stocks (By Thomson A McKinnon) —Aug. 25

Railroads— Peer High. Lc*. ”ose. close. Atchison .. . 10.1 % 103% 1031* 104 Vs Atl Coast L. 115% 117% 117 k 118 B & O 59 % 58 58 Vs 58 % Can Paeilc . 146 Vs 145 V 4 145 Vi 146 Vs C & O 77 Vs 76 Vs 77 V 77 C 4 X W Ry 90% 88% 89 90% C R I & P. . 45k 44 k 44 k 45 IC& G W pld 21 % 21 % 21 % 22 % Del & Hud . . 129 % 129% 129% 129% Del & Lack .132 132 132 132 k Erie .'. 18 17% 17% 17% Erie Ist pfd. 27 k 27 27 27 k ; Gt !%>rth pid 94 % 93 93 k 94 % 111 Centra! ..111% 111% 111% ... KC South.. 26 25k 25k 26% Lehigh Valley 68 k 68 % 68 % 68 % LAN 138% 137% 137 k 137 Mo Pacific . . 24 V* 23 k 23 % 24 Mo Pao pld. . 01% 60 60% 60% X Y Central. 98 % 98 98 % 98 k I NY NH A H 32 k 31k 32 32 k Northern Pac 89% 88 88 V 4 89 k Nor A West.llß% 117% 117% 118% Penney 47% 40% 48% 47 Reading ... 79 % 78 k 76 k 79 % So Rv 97 Vs 28 % 27 27 % So Pacific ... 94% 94 94 P 4% St Paul .... 35 k 35 35 % 35 % St Paul pfd . 53 k 52% 53 Vi 53% St L A S W 34% 34 34 34% St L A SIV pf 51 % 60% 50% 51% S L A S F R.v 31 30 % 30 Vi 31 % Tex A Pac.. 33% 32 Vi 33 33% Union Pac ..150% 149% 150% 161 Wabash 13% 12k 13% 13% Wabash pfd.. 34Z 33% 34% 34 , West Pac.... 20 % 20 20 Vi 20 k P L A W Va 40% 39% 39Vs 40% Rubbers— Ajax Rub 12% 11% 12 11% Kelly-Sp 43% 43 43% 42% K. T. A R. Cos. 9 8% 8%. 8% U. S. Rub.... 56% 55% 56Vi 55% Equipments— A. Car A Fd. 186 185 185 185 Am. Loco ..121 118% 119 120% Baldwin L0c.127% 125 125% 120% Gen. Electric 181 184 184 186% Lima Loco • 62 % 60% 61% 59% Pressed S. C. 83% 83 83 Am. Steel Fd. 42 k 42 42 42% Pullman . . .127% 125% 125% 128% Ry. Steel Sp .’ 13 113 113 113 West. Air ...100% 100% 100% 100 West. Elec... 64V* 63% 64 83% Steels— Beth. (A) .. 78% 78% 78% Beth. (81... 79% 78 78% 78 . Colo. Fuel... 33 33 33 32Vi Crucible .... 96% 93% 95 93Va Gulf State*.. 84% 82 % 83 83 Lackawanna. 80 % 79 k 80 80 Midvale 38% 35% 35% 35% Otis 11% 11% 11% 11% ReplOfle 33% 33% 33% 33 Rep. I. A St. 74 Vi 73% 74% 73% Sloss-Shef 52 * 50% 51 50% U. S. Steel.. 105% 104 104 _ 104% r. S. S. pfd. .121% 121% 121'? 121 % Vanadium .. 53 V* 51% 52 V* 51 Vi Motors—Am. B. Mag. 41 *0 41 .... Chandler M.. 61% 60 61 60 a; Gen. Motors. 13% 13% 13% 13% Hupp Mot 18% 18 18 18% Hudson Mot. 21% 21 21% 21 Max. M (Bl 18% 18% 18% 18% Mack Motor* 56 56 56 55 % M artin Ferry 32 30 % 30 % Pierce Arrow 12 11% 12 11% Studebaker .129% 127% 128% 128 Stromberg ..60V* 54 55 53 Vi Stewart War. 47 45 k 47 45 % Willy* Over.. 7 6Vs 6Vs 7 Minings— Butte Super. 31'j 30% 30% 30 Dome Mines. 37% 37% 37% 37% Int. Nickel.. 18 17 Vs 17% 18 < uppers— Am Smelt.. 65k 63 64% 64 Anaconda -.56 54 % 55% 65 Chile Copper 23 % 22 k 23 22 % BONDS LACK LEADERSHIP Day Recorded as One of Slowest Since Recent Advances. By IV. If. GRIMES United Financial Staff Correspondent NEW YORK, Aug. 25.—The bond market was without a real leader in the slowest day it has been since the beginning of the rapid price advance several days ago. Speculative rail issues could do little in comparison with other days. For a time liberty bonds promised to lend the market into some activity that would at least ruf. up the total volume but when price declines were checked this activity was checked and it was apparent that the buying was simply on the decline. Underlying the comparative inaction seemed to be the discouraging labor news and the nearness of the week-end when Investment money is somewhat slower in reaching the market. The market as a whole held about steady, which, everything considered was a creditable performance. At the rate advance have taken place in the last few days a slight reaction in some of the more active issues would not have been surprising. Some of the high priced rails gained, such as Southern Railway 6%s at 103% and Pennsylvania 6s at 103%.

IN THE COTTON MARKET | By United Financial ' NEW YORK. Aug. 23—Cotton opened quiet and featureless, off 1 to 8, Selling \ was light, credited to New Orleans. LiverI pool and locals. The same influence that caused the de- ! oiina at the opening brought cotton prioes 1 stiil further down around noon. Longs ; liquidated on the unfavorable rail strike news and reports of showers in the Southj west. —Cotton Futures— Open. High. Low. Close January 22.19 22.35 21 99 2191 March 22 24 22.38 22.03 22.06 May 22.10 22 25 21 90 21 90 October 22.43 22.50 21.95 21.93 December ... 22.35 22.52 22.08 22.08 By United Financial NEW ORLEANS. Aug. 25.—Weak cable, from Liverpool and bearish reports regarding German demand for raw cotton and large cancellations on yarn orders caused futures to open from 6 to 12 points Under Thursday's close# on the local cotton ex- | change today. Ths market continued bearish during the first two hours of trading. Futures were off the opening 5 to 10 points. By United Financial LIVERPOOL. Aug. 25.—Spot cotton dull with prices weak. Sale# 4.000 bale,, receipts 3.000 Including 1,600 American. Futures opened quiet. Open. High. Low. 12:39. August 13.09 13.09 13.05 13.05 , October 12.72 12.79 12.67 12.71 December 12.49 12 49 12.45 12.45 January 12.44 12 48 12.37 12.40 The market closed quiet. CHICAGO STOCKS (By Thomson & McKinnon) —Aug. 25 Open. High. Low. Close. Arm & Cos pf.loo 100 99% 99*. Com Edison .130 130 % 130 130 H Earl Motors. 2% 2V. 2H 2H Mont. Ward. 23% 23% 23% 23% Pick & C 0... 26% 26% 26H 26% Pig Wig A. . 42 H 42 % 42 % 42 % Reo Motor ..• 14% 14% 14 14 Stew-War. ... 43% 47 45% 46% Swift &Cos .106% 106% 106 H 106% Swift Inti... 21% 22% 21% 21% Thmpsn <JR> 54% 55% 54% 54% Temtor Cn A 1% 1% 1% l % Un C & C... 60% 61%. 60% 60 •> Wahl 61% 63% 61% 63 Yellow Taxi. 77% 77% 75 75 BOSTON WOOL MARKET By United Financial BOSTON. Aug. 25.—Despite the fact that the local wool market again rules very quiet, after a recent spurt of activity.* it is remarkable how steady prices are holding. The Texas basis for twelve months’ wool is reported a little lower quotable at around SI 20. against $1.25, a price that has been quoted for nearly a month. Some three-eighth blood wools are reported to have been bought at 90c to 95c. Reports from Melbourne, Australia, indicate that the shearers’ strike is delaying the movement of the new clip and that a fair volume of business is doing. The timt sale at Adelaide is scheduled to take place on Sept. 2. In Texas shearing is expected to begin in September. The demand for mohairs in Boston has caused some price revisions upward, it is reported. INDIANAPOLIS PRODUCE By United Financial . Eggs—Fresh, candled. 22c. Butter— Packing stock. 20c. Fowls—4% lbs up. 20c: folwg. under 4% lbs. 16c; spring,. 2 lbs under. 24c: springs, over 2 Ibs.2oc: cox and stags, lie: young tom turkeys. 12 lbs up. 25c: young hen turkeys. 8 lbs up, 25c: ducks. 4 lbs up. 15c: geese. 10 lbs up. 12c; squabs. 11 lbs s o dot **•

Prey. High. Low. Close, close. Inspiration . 42 V* 41k 42% 41 Kennecott ... 37% 36% 37 37% Miami 30% 29 Vi 30% 30% Nev. Cons... 17% 17% J 7% 17 V* Utah Copper 88% 60% 68 67 Mother Lode 11% 11 11% Oils— Cal. Petrol.. 62 61% 61k 61 % Cosden 48 47 47 % 47 k Houston Oil. 80% 79% G9k 79 In vine. Oil.. 15% 14% 14% 14% Mex. Pet-01.185% 181 Vi 182% 182% Mid. St. Oil. 13k 13% 13k 13k Mex. S. 8.. . 20 19 20 20 Pau-Am. Pet 80 k 79 k 79 Vi 79% Pacific Oil. . 57 % 57 67 o 7 % Pierce 0i1... 7% 7% 7k 7% Pro. A Ref.. 44k 43% 44% 42% Pure Oil 33 k 32% 33 32% Royal Dutch 54% 53 k 54 t>3% S. Oil of Cal.llo 109 109 k 110 SOof N J p. 116% 115% 116% Sinclair 33 32 Vi 32% 32% Texas Cos 48 k 48% 48 Vi 48 k Tex. C. A 0.. 2a% 25 k 25 Vi 25% T. Oil.. 14% 14V, 14% 14k Union Oil .. 19% 19% 19% 19% Industrials— Allied Chem. 82 81% 81k 81k AUis-Chalmers 59 57% 58 k 57% Am. Can 61 Vi 60% 60% 60% A. H. A L... 14% 14k 14k 14% A H AL pfd 74 73% 74% 73 Amer. Ice ...111 111 111 112%i Am. Woolen. 94% 93 Vi 93% 94 Cen. Leather. 42% 41V, 41k 41% Coca-Cola ... 72% 72% 72k 72% Comp. A T. 69 Vi 69 V* 69 Vi 70 V* duett A Pea. 63 61 62% 61 Cont. Can... 80% 79 Vi 80% 78% Endieott-J... 86% 85 k 85 V, 8;’ % Fam. Players 92% 90 Vi 9- 90 % Gen. Asphalt 67% 66% 67 67 * Inter. Paper. 58 56% 06% ,06% Inter. Par....11l 110% 110% 111 Loews 18% 18 18 18% Mont. AW.. 24% 23% 23 Vi 23% Nat. Enamel. 59% 58Vi 58% &£ 4 Nat. Lead.. .107% 104 107% 10* % Owen Bottle. 36 36 36 36 Pitts. Coal. .. 66% 68% 66% 60% Sears-R0e.... 90 % 90 90 90 % United Drug. 80Vi 80 80 .... V. S. R. St.. 76% 74% .4% 7j>Vi U. 9. CI P. 36% 35% 36% 35 IT S bid Al. .67 % 6o % 65 % 84 % Worth Pump 43 42 % 43 4~, Utilities— Am T A T. 121% 119% 121 k 119% Brklyn RT. . 26k 25% 20% 25% Consol Gas., ,131 k 128% 131 J~B% Col Gas .....102% 100 Vi 102 101 % People’s Gas. 92 91 91 % 91 West Union .117 115% 115 k 110 Shipping— Am lilt Corp 34% 33 34 33 k Am SAC... 16 15% 16 15k Atl Gulf ... 30% 28k 30 30% Int M M .. 16% 14 Vi 15% 14% Int M M pfd 57 54 57 54% Un Fruit ...151% 151% 151% 151 Food*Amer Sugar. 83% 82 Vi 82 Vi 93% Am Bt Sug. . 47% 47 47 47% Austin-Ntehls 30 k 29% 30% 29 k Am Cot Oil.. 27 27 27 27% Corn Prod ..118% 117% 117 k 118% Cuba Cn Sug 13% 13% 13k ... Cub Am Sug 25 k 24% 25% 25 Wilson A Cos 43% 43% 43% 43% Tobacco*— Am Tob Cos .151 % 151 151 150 k R J Reynlds B 53 k 53 53 53 % Tob Prod ..85k 84 85 84 k Miscellaneous Stocks— Amer Rad ..113% 112 112 Dav Chem . . 52 % 52 52 51 % F.le. S Batty 47% 47 k 47 k 48% Laclede Gas. 93k 91 92 92 Pm- Min... 39% 38k 38% 39% St Oil Ind 115% 114% 113% ... Sales. 12.111. CURB PLAY LISTLESS Stufz and Standard Oil of Indiana Undergo Price Declines. By W. H. GRIMES United Financial Staff Correspondent NEW YORK, Auf 25.—The curb market today went through another dull and listless five hours of trading in which some stocks showed a tendency to fall off while others made advances. In the industrial list, two stocks which have been a recent center of- - underwent declines. Timken Roller Bearing late in the day broke for the second time since Its listing. Stutz was the other. Other industrials were higher. The oils were still more Irregular. Standard Oil of Indiana was off %. Minings were quiet. There was good activity, however, in two bond issues. Western Electric 7s sold more than a quarter of a million dollars worth and Stewart Warner 8s showed a gain of 2% for the day. I

SWINE BARELY STEADY Chicago Market Flushed With Big Holdover Supply. By United Financial CHICOGA. Aug. 25.—Hog trade was slow from the outset at the Chicago stockyards today. Prices were mostly steady. Receipts, 18,000, big killers taking about 400 from other ttading points. There was a stale supply of more than 12,000 In the market. Choice grades of cattle were held fully steady. Receipts of 5,500 were depleted to 4.000 after the killers had taken their direct shipments and the clay's run was light for the fairly native demand. Sheep and lamb prices were strong. Fresh receipts were 8,000, of which the killers took about 250 head direct from outside markets. Lambs showed the most strength. INDIANAPOLIS STOCKS —Aug. 25 Stock, Bid. A,k. Ind Ry & Light com 67 ... Ind Ry & Light pfd 84 % 89 % Indplß St Ry 55 ... Indpls N W pfu 45 Indpi, & 8 E pfd . . 60 T H T & L pfu 75 T H I & E com 1 4 T H I 4 E pfd 4 10 U T of Ind com 2 U T of Ind Ist pfd 10 15 U T of Ind 2d pfd 1 4 Adv anee-Rumely pfd ... Advance-Rumely com ... Am Creosotlng pia 97 ... •Belt R R com 52% 61% •Belt R R pfd 61 Century Bjjlg Ca pfd 04% ... Citizen, Ga, Cos 21% 24% City Service com 193 197 City Service pfd 67% 70 American Central Life Ins... 200 Dodge MfgCo ... Home Brewing 40 ... Ind Hotel com 88 ... •Ind Hotel Cos pfd 99 ... Ind Natl Life Ins Cos 2 ... •Ind Title Guarantee 80 ... Ind Pipe Line, 87 92 Indpls Abattoir pfd 45 49 •Indpls Ga, 47 61 Indpls Tel pfd 00 ... Indpls Tel com 1 ... Her Pub Util pfd 53 \Rauh Fertilizer Cos 49 ... Natl Motor Car Cos 1% 4 Pub Savings Ins Cos 6% ... Standard Oil of Indiana. .. .113 % 116 Stcrli ng Fire Insurance Go.. . ... Van Camp Hdw pfd 90 ... Van Camp Prod let pfd 101 Van Camp Prod 2d pfd 101 Vandalia Coal Cos com 1 3 Vandalia Coal Cos pfd 7 12 Wabash Ry pfd 33 36 Wabash Ry com 12% ... Bond, Broad Ripple 5, 61% Citizens St R R 5s 84 87% Indian Creek Coal * Min 6. .. ... Ind Coke & Gas 6, 86 91 Indpls C & S 5s 92% ... Indpls 4 Martinsville 5.... 59 ... Indpls Northern 5, 46% ... Indpls St Ry 18 65 67 Indpla" & N W 5s v 65% 61 Indpls & S E 6s 40 Indpls Shelby & S E 5s 65 T H I & E 5s 64 Indpi, Gas 6, 87% 80 Kokomo M & W 6s 88% 91 Ind Hotel Cos 6s 100 ... Indpls Water os 96% 100 Indpls Water 4%, 80 85 Indpls T & T 5s 84 87 Indpla L & H 5s 92% 94% D T of Ind 6s 59% 63% Mer H A Los 99% ... New Tel L D 5s 97 New Tel Ist 6s 97 South Ind Pow er 6s 86 % 91

THE INDIANAPOLIS TIMES

HIS QUOTATIONS RALLY SLIGHTLY ON.LOCAL SALES Cattle Go Generally Steady, With Sheep and Lambs at Steady Level. BANGS or HOG PRICER. Ooc-C Gooo Good Aug. mixed. heavy. light. 18. $7.75- 8.00 SB.OO- 8.25 $8.25- 9.65 19. 7.75- 8.00 8.00- 8.25 8.26- 9.65 21. 7.60- 7.90 7.90- 8.15 8.16- 9,60 22. 7.50- 7.80 7.80- 8.00 8.00- 9.40 23. 7.40- 7.70 7.70- 7.0 Q 7.90- 9.30 24. 7.50- 7.80 7.80- 8.00 8.00- 9.40 25. 7.65- 8.00 8.00- 8.20 8.20- 9.65 Hog quotations raTnefT 15 to 25 cents at the local stockyards today. The market found Its main support from local packers, who bought freely, while shipping orders on local brokers were conspicuous by their absence. An average supply of about 7,000 helped the rise somewhat. The top was about $9.65. Steer prices held steady at the levels which have ruled for the past week in the cattle market, while the common grades of cows and ’heifers again found difficulty in finding sales. For the week, cow and heifer prices have suffered a tptal drop of from 25 to 50 cenjts. Best steers sold at $9.50® 10.25. The calf market was strong, prices being a shade higher than In Thursday’s market, but the top remained at sl3. Receipts were normal at 700. Sheep and lamb prices ruled steady, with 800 received. The lamb top was sl2. —Hog*— 100 to 150 lb* average 5 8,20® 840 Over 300 pound* 7.90'.{ 8.20 150 to 300 pourii* 8.404$ 9.65 Meet pigs under 140 Us 7.90® 8.30 Top 9.05 Bulk of sales 8.20® 0.55 Stags 5.00® 6.25 —CattleFew choice steers 9.50® 10.25 Prime eorn-fed steers, 1.00 to 1.300 lbs 8.50® 9.50 Good to choieo sieer*. 1.000 1.300 lb* 7.50® 8.00 Good to thoi'-e steers, 1.000 to 1,200 lbs 6.75 @ 7.50 Good to choice steeis. 1.000 to 1.100 lbs.' , 0.50® 7.00 Common to medium steers. 800 to 1,000 lbs 5.50© 6.50 —Cows and Heifers— Few choice heifer* 7 50© * 25 Good to choice heifers 7 26 it 7 50 Medium heifers rt.Soia 7.00 Common to medium heifers.. 5.50© 050 Good to choice cows 0.50© 7.00 Common to good cows 3.00© 5 50 Cannera 2.25© 3.25 , Cutters 2.00® 3.u0 —Bulls— Fancy butcher bulls 6.00© 5.76 I Good to choice butcher bulls. 425 tj. 4.75 Bologna bull* 3.00© 350 Light bologna buds 9 00© 3.25 Light common bulls 3.00© 3.50 I ’ —Calves— Choice veals 11 00® 12 50 Good veals . 10.00© 11.00 i Medium veals 0.0(8® 10.00 I Lightweight veals 7.50© 8.50 Heavyweight veals 7 Uo© 8.00 Common heavies 0 00© 750 Top 13.00 —Stockers and Feeders— Good to choice steers under 800 lbs 6.25© 7 50 Medium cows 3.25© 3-50 Good cows 3.76© 4.60 Good heifers 5.50© 7 00! Medium to good heifer* 4.25® 6.50 j Milch cows ami .springers... . 35.00©85.00 —Hheep and Lambs— Culls ewes 2 00® 2.75 , Good to choice ewes 8.76© 6.50: Bucks 3.OU© 3.501 Yearlings 6 00© 800 Springers 10.50© 12.00 Culls 3.50© 6.00 50c ofi for water.

OTHER LIVESTOCK By United Financial CHICAGO, Aug. 25—Hog*—Receipts, j 18.000: market, steads’: top, 59.70: bulk of | ! sales. [email protected]; heavy weights. $7 75ft I 9.15. medium weights $8.7509.60' light-: j weights. 59 40 (ft 9.70; light lights. sß.oo® 9.45: heavy packing sows, 96-751t!7 45; lacking sows rough 6.1508 86: pigs. 57.50 @8.75. Cattle-—Receipts, 5,500; market, generally steady; choice and prime. slo® 510.95: medium and good. S3 % 10: common. 56.25428% good and choice. 58.75 ft 10.40; common nr.d medium 56 @8.75; butcher cattle and heifers. $4 85® 9; cows, 53.6&®8; bulls, $3.7506.50. canncr*. cutters. cOws and heifers. $2.30®'3.75: eanner steers. 83.7504 50; veal calves, St') 's® ! 13; feeder steers 55.50®8; stockin' steers. $4 73® 7.50; Stocker cows end heifers. 53.60 ® 5 60. Sheep—Receipts. 8.000; market, strong: lambs. 512.50® 13.25: lambs, cull and common. $8.50® 12.10; yearling wethers, 58.75® 11.25; ewes. 53 60 @7.05; cull to common ewes. S3® t. CINCINNATI. Aug. 25.—Cattle—Receipts, 850; market, steady to dull; shippers. sß® 8 50. Calves—Market, steady: extras. $11.50 ®l2. Hogs—Receipts. 4.400; market, strong to 15c to 25c up; good to choice packers, $9.50® 9.75. Sheep—Receipts. 4.000; market, steady: extras. s4® 6. Lambs—Market, steady, fair tu good. sls ® 13.60. KANSAS CITY. Aug 25.—Hogs—Receipts, 3,000; market. 10c higher; bulk of sales. 58.05@9 10 Cattle—Receipts, 3.000. market weak, bulk of sales. $8.25® 10.50. Sheep—Receipts, 2,000; market, steady; lambs. sl2® 13.26. CLEVELAND, Aug. 25.—Hogs—Receipts. 4.000; market, active; yorkers, $9.75; mixed. $975; mediums, $9 50: pigs. $9.50; roughs, $7: stags. $4. Cattle—Receipts, 450: market, active; good to choice steers, $9 50® 10 25, good to choice heifers. $0.50 @7.50: good to choice cows. $4.50® 5.50; fair to good cows, $3.50® 4.50; common cows. $2.50®3.50; good to choice bulls. ss® 6; milchers, 935®75. Sheep ami lamb*—Receipts 1,000: market, active: top. $12.60. Calves-i— Receipts. 600. market. eteardy; top. $12.60. EAST BUFFALO, Aug. 25 —Cattle—Receipts, 375; market, slow; shipping steers, [email protected]; batcher grades, sß@9; heifers. s•>.6o® 8: cows, $2.5006.25: bulls. s3® 5.50; milk cows and stringers. s2o® 110; feeders. [email protected]. Calves—Receipts, 700; market, active; cull to choice. s4® 12.40. Sheep and lambs—Receipts, 3.000: market, slow; choice lambs. sl3® 13.40; cull to fair $6.75® 12.60; yearlings. s7® 10; sheep. [email protected]. Hogs—Receipts, 4,800: market, slow; yorkers, slo® 10.25; pigs. $8.25® 8.60; nixed, $8.75010.15: heavy. s9® 9.50: roughs, $7®7.20; stags, s4® 4.50. EAST ST. LOUIS. Aug. 25.—Cattle—Receipts. 3,000; market, steady: native beef steers, s4® 5.25: yearlings and heifers. [email protected]; cauners and cutters, $2235® 3; calves, $10.50® 10.75: Stockers and feeders, $5.50® 6.50. Hogs—Receipts. 7.0O0: market, active, steady: heavy. $8.75 @9.25: medium. $9.15@9 00; light. $9.35 @9.40; light lights. $9®9.50; packing sows, $8.26 @7: pigs. $8.25 @9.25; bulk, [email protected]. Sheep—Receipts. 2,000; market, active, steady; ewes. s3@6; cannirs and cutters. 50c @ $2.50; wool lambs, $12.50® 12.75. PITTSBURGH. Aug. 25.—Cattle—Supply. 200 head. Hogs—Receipts, 1,800; market, steady; market 20c up; choice, 89.25@10; prime heavy hogs. $9.25®9 35; prime. J 0.25 @10: mediums. [email protected]; good, $8.25® 9: heavy Yorkers, $lO @10.05; tidy butchers. [email protected]; light Yorkers. $9 @ 9.50; fair. $6 [email protected]; pigs, [email protected]: common, So® 6: roughs. s7@B; common to good fat bulls, $4®5.90; stags, $3.50@4; common to good fat cows. 83®5.50; heavy mixed, 89.60 @9.75; heifors. 85 @7.50; fresh cows and springers. 836 @BS; veal calves. 512.60; heavy and thin calves, 86 @9. Sheep and lambs—Supply. 1,300 head: market, steady; prime wethers. s7@ 7.50; good mixed, 86.2508.75: fair mixed. $5.25 06; culls and common, $1 @C; lambs, sl3. CHICAGO PRODUCE CHICAGO, Aug. 25.—Butter—Receipts. 9.007 tubs; creamery extras. 34@34%e: extra firsts. 32@33%c: firsts. 29%@31c: packing stock. 23® 24c. Eggs—Receipts. 7,885 cases: current receipts (mlso.), 22® 2%c: ordinary firsts. 20®21c: firsts, 23% @24c: checks, 14%@16e: dirties. 16% ® 17%c. Cheese—Twins (new*), 19@19%c; daisies, 19c; young Americas. 19% @2oc: long horns, 20®20%c; brick, 24c. Live poultry—Turkeys. 25e; chickens. 18@21e: springs, 24c; roosters, 13%o; geese, 18c: ducks. 21c

CORN AND WHEAT BULLETIN .For the twenty-four hours ending at 7 a. no., Friday, Aug. 25. 1922. TemperV ature r> Stations of > 2 Ji ° Indianapolis it ~ 8 Sri eg. District || 11 1|? g|| .c is z. *3 .2 'O e-a M® 4) ** li " u SfS £.s= o*3 South Bend 91 67 I 0.38 Good Angola 86 66 0.55 Good Ft. Wayne 82 66 0.55 Wheatfleld 94 07 0.80 Good Royal Center.... 86 06 0.56 Good Marion 84 66 0.73 Good Lafayette 88 09 0.03 Good Farmland 86 67 | 0.52 Good Indianapolis .... 88 72 | 0.39 Good Cambridge City. . 84 65 I 0.45 Fair Terre Haute 88 78 0 Bloomington ... 94 70 0.12 Good Columbus 95 72 0.11 Good Vincennes 96 77 0 Good Paoli ei 70 0.12 Good Evansville 94 ) 78 0 j. h7armTngton~ Meteorologist, Weather Bureau. WHEAT FIGURES RECOVER AFTER FORMERSLUMP Corn Suffers Bearish Tone — Oats Exhibits Potential Strength. By United Fitiancial CHICAGO, Aug. 25.—Grain prices closed irregular on the Chicago Board of Trade after a session of rapid fluctuations. Wheat, which was weak in the early hours of the trade, gained strength near the close on reports that k fairly heavy movement was progressing from eastern ports to Scandinavia. Prices closed at substantial gains over opening levels and fractionally anead of yesterday’s close. Selling of corn by previous buyers was the chief factor in a sharp slump in prices near the close of the market. A technical situation, in which corn holders were unloading to cover shortages in wheat was noticeable in most of the dealings. In additii t to the pit situation, cooler weather over most of the corn growing states added considerable bearishness to the trade. Oats showed a considerable amount id potential strength throughout the day, prices following all the bulges of other grains and refusing to drop on the breaks. Provisions closed lower on reports of an unfavorable foreign demand.

CHICAGO GRAIN TABLE —Aug. 25 By United Financial WHEAT— Open. High. Low. Close. S’-pt. .. 1.01 1.02 k 1.01 l.Olk Ih: 102% 1.03% 102% 103 k May... 1.07 k 109 1.07% l.Osk CORN— Sb-pt... .60% .61% 60% .60% Dev 65 k .56% .55% ,56 k Mar... .58% .59% .58% .48% OATS— Sept... .31% 32 k .31% .32% Dec 34% 34% 33% .34% May... .37% .38% .37% .37% LARD— Sept... 10 10 10 50 10 35 10.37 0.-t . . 10 50 10.57 10.45 10.42 RIBS— Sept... 0 82 0 85 9 75 9.75 Oct 9.60 9 65 0 52 0.55 It YE Sept... .68 % .69 % .68 % ,69 Dec 70%. .72 .70% .71% •May :.. .75% •Nominal. CHICAGO CASH GRAIN By Vnitfl l'incinciril CHICAOO, A US’- 2. r >.—Wheat—No. 2 rL s>l 04 *ut 1 .()•! 4 : No. 2 hard. $1 o.' \<& I.o<i; No. .1 spring-. $1; No. 3 hard. 51.04 4. Torn—No 1 yellow, 04’*c; No. 2 yellow. 64'&4Hc; No ;* yellow, ti3**<264c. No. 4 yellow 62 4&63*c: No. o yellow. 62 l 4 <eC No. 6 yeilow, 62 ■S? 62 Vgc; No. 1 mixed. 63 4**: No 2 mixed. 03 63 *4 c; No. 3 mixed. 630 No l mixed, 62 (ii6.to. No. 5 mixed, 62&02 4c: No. 6 mixed. 61 ! ic; No. 1 white. 03\*c: No. 2 white,62 S U63\ c; No. 3 white. 63c: No 4 white. 02 l Qi 63c. Oat*—No 3 white. 32\^ ; <4- So. 4 white. 33 Uc; standard, 32 4 <u, 32 Vi o. primarT’markets (By Thomson A McKinnon) —Aug. 25 Receipt* Wheat. Corn. Oat*. Wheat Com. Oat*. Sioux City. 40 000 11,000 Chicago . . 450.000 526.000 498.000 Milwaukee. 25,000 48.000 104.000 Minn Apia . 761.000 13.000 141.000 Duluth . . 183.000 6,000 2.000 St. Louie. 156,000 78.000 40.000 Toledo . . 20.000 9.000 18,000 Detroit . . 4.000 6.000 8,000 Kansas City 270.000 8.000 17.000 Peoria ... 22.000 86.000 66.000 Omaha. . 148.000 136.000 64.000 Imiiaupolis 9.000 74,000 22.000 Totals. . .2,090.000 1.042,000 975.000 Year 5g0.5.2i3.000 1.138.000 797.000 Shipment* Sioux City 39,000 14.000 S'. Joe ... 16.000 11.000 6,000 Chicago . . 518.000 303.000 258.000 Milwaukee 32.000 1.000 23.000 Mlnnapolis 304 000 10,000 139.000 Duluth ... 131.000 St. Louis . 95.000 62.000 62.000 Kansas City 257,000 34.000 3.000 Peoria ... 42.000 50,000 22.000 Omaha . . . 98.000 63.000 42,000 Imiianpolls. 5.000 6,000 8.000 Total*. . .1.469.000 569.000 589.000 Year ag0.2.290.000 1.400.000 959.000 Clearances Wheat. Com. Oats. New York. 52,000 26,000 Phlladphia 26.000 Totale. .. 52.000 62.000 Year ago 346.000 ...... indianapolls cash grain Bid* for car lots of grain and hay at the call of the Indianapolis Board of Trade were; Wheat—Through billed; steady. No. 2 red. 08 ©99c. Corn—Steady: No. 3 white, 56©57c; No. 4 white. 65@56e; No. 3 yellow, 56(3 67c; No. 4 yellow, 55@56c;*No. 3 mixed. 65% @6%0 No. 4 mixed. 64%@55%0. oat9—Firm; No. 2 white, 30% ©3lc; No. 3 white, 30@30%c. —lnspections Wheat—No. 2 red. 2 car*; No. 2 hard. 2 cars; No. 1 mixed, 2 cars; No. 3 mixed, 4 cars; sample, 1 car; total. 11 cars. Corn—No. 1 white. 1 car; No. 2 white, 3 cars; No. 3 white, 11 cars; No. 4 white, 4 car*; No. 0 white. 1 car; No. 1 yellow, 2 cars; No. 2 yellow. 1 car: No. 3 yellow, 1 car; No. 4 yollow, 3 cars; No. 5 yellow, 0 cars; No. 6 yellow. 5 cars’ No. 2 mixed. I car; No. 3 mixed. 1 car; No. 4 mixed, 1 car; sample. 1 car; total. 45 cars. Oat*—No. 1 white. 2 cars; No. 2 white. 10 cars; No. 3 white. 8 cars; total, 20 cars. Ryt—No. 2, 1 car: total, 1 car. Total number of cars for day. 77. Grain prices quoted f. o. b. basis. 41 %c to New York. COTTONSEED OIL By United Financial NEW YORK. Aug. 25.—Cottonseed oil trade was large today. Prices sold off 6 to 7 points under “local and commission house selling with the easy tone in cotton and the 7% to 10 drop in lard, but cotton oil ralllod P to 4 from the lows when lard recovered early losses. Southern houses wetro moderate buyers. while refiners' I brokers sold in s small way. Cash trads wa* again reported quiet, while cotton crop advice* were increasingly The Watkins Bureau was reported to have placed the condition at 61.9. or somewhat higher than the recent report*. The aggressive locals are again taking the selling side, bclievibg that cotton has discounted a bullish report, and that with the slightest change in the weather improved cotton advices from the South will follow. The lack of any important cash trad* is the one big drawback to the market. Crude oil is being held above local refiners' ideas and as a result there is little doing. English cotton oil was 3 pence lower at 40s 60

COAL SITUATION GIVES OFFICIALS MCOILON Hoover Declares Problem Is How Much Fuel May Be Carried by Roads. By Unitea Press WASHINGTON. Aug. 25.—The Administration is gravely concerned over the problem of supplying the country’s fuel needs this winter. Officials today admit a critical sit uation confronts the country. To difficulties caused by the coal strike and the exhaustion of fuel reserves is added the deadlock in the railroad strike. Even if the railroad strike were settled today the country would not avoid rationing of coal this winter, it was declared. The problem is not coal production, but how much coal the carriers can haul. Secretary of Commerce Hoover stated.

DEMANDS RUN SLOW Western Firms Show Scant Desire for Merchandise. By United Financial NEW YORK, Aug. 25. —Reports from dry goods houses in the Wept indicate slackened demands for merchandise, coinciding with the experience of houses here. Most buyers at the Merhcandlse Fair here say they are able to get what merheandise'they require except some lines of cotton goods and staple dress goods that are In short supply as a result of the strike. One of the flrst results hereafter will be a raise in the price of men’s suits by the exclusive Fifth Ave. tailors. The raise will average about $lO. Incidentally these tailors have had' a good summer season and a good fall season is in prospect. Clothing stores do not share the optimism of the exclusive tailors EFFECT WIDESPREAD Nuisance Ordinance Would Hit 200 Industries. More than 200 local Industries will be effected if the ordinance defining “public nuisances” and compelling their removafffrom the city, now pending in the city council is passed, according to a letter sent out today by the Associated Employers of Indianapolis. "Scores of the city's largest Industries would be effected by the pas sage of this ordinance.” the letter states. “The question is shall these investments be ruthlessly sacrificed to the whims of a few disgruntled individuals who have not the slightest idea of the magnitude of the hardships that would be imposed upon both industry and working people." RAW SUGAR MARKET By United Financial NEW YORK. Aug. 25.—Cuban rew sugar continue* unsettled. American and Warner bought a total of 3.000 lone of eugar exMor* at 4 80c duty paid, off about 8 point* from previous *ale The refined market t* aleo unsteady Raw sugar opened barely steady todsy September. 3.09 vs 8 llo: December. 3 33© 3.34 c; March, B,llc bid May. 3.22©3.35c.

ff Egg \ ) We Are in the Market to 3uy Indianapolis Gas Company Stock Fletcher American Company 2nd Root Fletcher American Bank Bldg. INDIANAPOLIS Chicago Detroit Louisville South Bene* Prtpote Wire to Principal Mai

American Telephone&Telegraph Cos. 132nd Dividend The regular quarterly dividend of two dollar* and twenty-five cents per share will be paid on Monday, October 10, 1922, to stockholders of record at the close of business on Wednesday, September 20, 1922. H. BLAIR-SMITH. Treasurer. MOTION PICTUREB. “SMUDGE” Circle Orchestra Grand Organ Next Week * ' Anniversary Week Special Program amusements'. 1 mm Wah^romorrov^ - 1 j The Stuart Walker Cos. IN [ The best comedy of Clyde Fitch I I Next Week: Gala Farewell Week I

MARYS DIVIDE HONORS * Youngest and Oldest at Picnic from 3 to 77 Years. Honors for being the youngest and oldest Mary at the Mary reunion and picnic, held Thursday at Broad Ripple Park, were awarded to little Mary Elizabeth Wolf, age 3 years, of 2008 Park Ave., and Mrs. Mary Jane Flick

Store Closes Saturday at 1 P. M, mm block c? TTC basemchtTCTStt'feEM A Quick Clearance SILK DRESSES S2O to $35 J % A 75 For Women Dresses, v * and Misses We have assembled for a hasty disposal, Saturday morning, broken lots of our higher priced silk dresses that sold | at $20.00, $25.00, $30.00 and $35.00. —CANTON CREPE —GEORGETTE CREPE —CREPE DE CHINE —COMBINATIONS Only a limited number left and one or two styles of a kind —which makes early shopping advisable. Women’s and Misses’ Coats —Capes —Wraps *9iZ5 and 12:2 Practical styles in shawsheen, Bolivia, polaire, mixtures and other desired materials. Colors are navy, black, hindu, plum, burgundy, tan, brown and deer. $15.00 to $27.75 coats, $9.75 $30.00 to $40.00 coats, $12.75 Men’s Knitted Ties These are copies of the much higher x t priced grenadines. They have slight im- j perfections, but these imperfections will not / at all impair the wearing quality. There \ J K are stripe patterns, figures, two-tone and / plain effects. These ties are going out by I the half dozens and dozens Very special i (3 for $1.15) J

Domestic Specials

WHITE TABLE OILCLOTH —800 yards of white oilcloth, 45 inches on wide; 40c quality Z.OC BED PILLOWS Good, soft pillows; up to rn $1.25 qualities .DuC

Misses’ Hose Fine ribbed mercerized hose, with rein- \ forced toes and heels; black, brown and ( white; slightly imperfect, otherwise they’? mMa. * K would sell up to 50c; very special * k

We Make — SECOND MORTGAGES on improved Indianapolis real estate running for one, two and three years. No Red Tape—No Delay AETNA MORTGAGE & INVESTMENT CO. 508 Fidelity Trust Bldg. Main 7101

AMUSEMENTS. | m CONTINUOUS VAUDEVILLE All the Time 1 Until 11 P. M. LESTER BERNARD & CO. RALPH WHITEHEAD FOUR DIAZ RIVERSIDE TRIO Lind & Treat, Mile. Lizette, Mills & Miller, Pltzer & Daye. | Dancing In the Lyric Ballroom Afternoon and Evening.

[Ofl/Pl IL c /heatbel

CS "ta t - r*v Clara Kimball Young I “WHAT NO MAN W KNOWS” C_i / ’ Nine* In "Torchy’e Holdup.” Tax News Weekly eSu..- ' - I —III— ai

and Mrs. Mary Jane Brown, both at them 77, who divided honors and a pair of mahogany candlesticks. There were Mary’s present from all over Indianapolis, as well as others from Florida, Illinois, Michigan and Idaho. New officers elected were Mrs. Mary Aldridge, Indianapolis, president;! Mrs. Mary Wicker, Noblesville, vice president; Mrs. Mary Puett, Southport, secretary, and Mrs. Mary Baity, Indianapolis, treasurer.

WHITE BEDSPREADS—--100 of these (limit of 2 to a customer), our d*i jj $1.85 quality BLEACHED CHEESECLOTH Yard wide (limit of 5 yards to a cus- {" tomer), yard *)C

MOTION pictures.

MAY Me AVO Y "Through a Glass Window" EDDIE LYONS In “KEEP MOVING" “THE MIRROR” Pictures Made 25 Years Ago Showing President McKinley's Inauguration International News

13