Indianapolis Times, Volume 35, Number 58, Indianapolis, Marion County, 19 July 1923 — Page 11
THURSDAY, JULY 19, 1923
RALLY BROADENS •TO INCLUDE ALL LEADINGGRDUPS Rails and Equipments Come \ ; into Trading With Substantial Gains, The WALL STREET JOURNAL NEW YORK, July 19.—There was moderate activity at the opening of the stock market today with only fractional changes showing in most leading stocks. The Pan-Americans continued the strongest of the oil group, while Consolidated Gas was active at higher figures. United States Steel showed an opening gain of %, reflecting the generally better feeling in the street toward the future prospects of the industry. First Hour Activity, with growing strength, continued until the close of the first hour, with Com Products/ the feature of trading, which reached considerable volume at times. The stock went 114 points above its previous close and coppers came into the trading with strength manifested in Anaconda, Chile and Kennecott, which reached new highs on the recovery. Rational Lead gained two points, Car and Foundry was up niore than a point and Coca-Cola almost two points, while Studebaker reacted fractionally. Second Hour Stocks continued strong and fairly active in the second hour, with trading in the rails broader and prices in such* issues as Delaware & Hudson, Reading and Union Pacific showing gal ns of a point each above the previous close, while New York Central was up %. Equipments fell Into the line of advance formed by the carrier group .American Car and Foundry selling up two points, Baldwin up and American Locomotive up %. Studebaker spurted to 104%, up one point. —. ' Noon Hoour. ' The mos active and strongest stock market in many weeks developed shortly before 1 o’clock. Short-cover-ing was apparent and the size of the blocks in which Studebaker, Corn Products and American Can were bought indicated a hurried movement. In addition, some brokerage quarters that have been bearish in their (pinions decided that the market was in a strong technical position and took to the bull side. The upturn included leaders in all groups. Fourth Hour Following the noon rush fir securities, the market continued to advance ■teadily. Apparently traders were content to go home long of some for there was little profit-tak-Wk despite the extent of the day's advance, which was from one to four fpoints in many of the leaders that are usually made the object of bear attacks.j Steel got up to 92%, up 1%, while Studebaker annexed a net gain of 2%.
Closing Hour On the most active trading In a fortnight, the entire list on the stock exchange moved forward until the very close under impetus of some hurried short covering as well as a better buying demand for long accounts the latter induced by important brokerage circles discounting! tlje bea rside of trading and favoring bull sentiment in stocks. A whole list pf individual stocks closed the day at the best levels on the current recovery. _JTwenty active industrial stocks on \yednesday averaged 90.01, up .51 per cent. Twenty activ erails averaged 79.08, off .08 per cent. Local Bank Clearings ‘ Indianapolis bank cieanngs Thursdav were 53.201.000: bank debits were 56.164,000. New York Money Market Bu t nited Financial , NEW YORK. July paper market more active with wider Inquiry. Prime names 5 per cent, other rood names. 6 & per cent. Time money, quiet, but firm. Few loans arranged at oti per eent. Brokers bidding 5 per cent. Foreign Exchange Bu United Financial NEW YORK. July 19.—Foreign exchange wened higher Sterling, demand. $4.59• t *69%. Frams. demand. 5.91 c: cables •I‘iC. Lire. demand, 4.32 M>c: cables! 4133 c. Belgians demand, 4.87 c cables 4.B7tic. Marks. 808.690 to the dollar' • Czecho, demand. 2.99 He: cables 300 c. JSwiss. demand. 17.50 c: cables 17 52c Pesetas, demand. 14.28 c: cables. 14 30c’ Sweden, demand. 20.51 c; cables. 26.55 c •JSorway. demand. 10.16 c: cables, 16 20c’ Spimark. demand. 17.46 c: cables. W.soc. Building Permits Timothy Donlan. repair. 630 S. West $250 7 V , Raymond Jennings, addition, 2129 Brookeide, 5448. H. E. Parker, dwelling. 5130 Guilford. 50.500. Nora A. Lawson, addition, 2009 N. Oxford. S6OO. Clara Nixon, garage. 4218 E. Michigan. 5200 k Smith, addition. 1670 N. Tacoma, George W. Denny, garage, 451 S. Keystone 5200. Fred Steinmetx. dwelling. 945 E. Tabor 58.050. Ralph Root, dwelling, 687 Berkley Rd., Fred Rideout, dwelling. 611 E. TwentyFourth, $4,800/ M. C. Nelson, garage, 6009 Washington Btvd.. $1,500. M. Wandrei, garage. 558 Udell, 5250. George D. Abraham, garage, 121 N. Bradley. $245. Hal Gary, remodel, 4930 Washington Blvd. ®BOO. Edwin E. Thompson, repairs, 2184 Shelby, 5400. John P. Caldwell, garage, 6115 E. Washingon, S3OO. Thomas Watson, garage, 2537 N. Delaware $250. Colley B. Hutskampr garage, 1418 Cruft, S4OO. Joseph A. Kennedy, dwelling. 1517 Hoefgen. 51.200. - J. H. Valdenaire. dwelling, 3845 E. ThirtyFirst, SI,OOO. J H. Valdenaire. dwelling, 3849 E. ThirtyFirst. $1,600. Jessie M. Harrington, garage, 2460 Bellefontaine. 5400. - Auto Electric Shop, gas tank, 528 N. Meridian. 5350. George H. Amt. dwelling, 822 E. Raymond. 59.000. Charles H. Cox. furnace, 3837 Beliefonline. 5400. B. Wooster, furnace, 1232 Ashland. ' J. C. Price, remodel, 2014 Central, $1,700. . Hutchinson Auto Company, gas tank. 963 N. Meridian. SSOO. Radio Taxi Company, gas tank, Wabash and East. SSOO. % ":~T. M. Harmon, dwelling. 6346 Broadwav. $8,600. _julius Matzke. dwelling. 2422 E. Sixteenth. $4,000. ' a * r W. C. Lewis, reroof, 2928 E. Eighteenth. S3OO Charles Hoilman, dwelling. 1152 E. Ohio. $3,600 P. H. Cradlck, garage. 400 N. Gladstone,
New York Stocks (By Thomson & McKinnon) *—July 19—
Railroads— At 1:45 Prev. HUfh. Low. p. m. close. Atchison ... 99% •••• 99% 99 B. & 0 48% 48% 48% 48% Can. Pacific 148 147% 148 147% C. & 0 60 60 59% C. & N. W R. 70% .... 30% 70% C.. R. I. & P. 25% 25 25% Gi. Nor. pfd. 65 ... 64% 65 N. Y. Central 98% 97% 98% 98 Northern Pac 66% 65% 66 %\ 66 Pennsylvania. 43% 43 % 43 % 4-3 % Reading; .... 72% 7r% 72% 71% So. Pacific.. 87 86% 87 86% St. L. & S. W. 29 g, 29% 29 % Union Pac 131% 131 129% Wabash pfd. 28 % 28 2, % Rubbers— Ke4y-9p* 35% 34% 35% 34% U. S. Rubber 44 43% 44 43 Equipments— Am. C. & Fd. 156 154 155% 153 Am. L0c0... 63% 67% 68% 67% Baldwin. L . 120% 119% 120% 11?% Gen. Electric 176 175% 176 170% Lima Loco.. 63 62% 63 61% West. Elec... 58% 56% 56% 66% Steels—'Bethlehem. . . 47% 46% 47% 46% Crucible .... 65 % 05 % 65 % 64 % Gulf States.. 74 72% 74 -2 R. I. & Steel 46% 45 46% 40% U. S. Steel.. 92% 91% 92% 91 Motors— ' Am. B Mas:. 33% .... 33 33 Chandler M.. 62% 61% 52% 51% Gen. Motors 13% 13% 13% Max. M. tA) 40% 40% 40% 40 Max. M. (B) 12% 12 12% 12 Studebaker ..108 103% 106 103% Stewart-W.. .. 87% 80% 87% 85% Tijnken .... 38 37% 38 .... •- Minings— Dome Mines. 38 34% 30 .... Int. Nickel. . 13 12% 12% 12% Coppers— Am. Smelt... 58% 67% 58% 57%
HEAVY RECEIPTS SEND JOGS DOWN Decline of 15 to 25 Cents Occurs in Local Trading. Ho? Prices Day by Day July 250-300 lbs. 200-225 lie. 150-180 lbs. 13. 7.50@ 7.65 7.65© 7.75 7.80® 7.8a 14 7.00® 7.25 7.25 ft 7.C5 7.7;,® 7.80 18 7.35® 7.50 7.60® 7.80 7.85® 7.90 17 7 25© 7.50 7.90© 810 B.lo© 8.25 78. 7.25© 7.50 7.75© "7.£0 7.90© 8.00 19. 7.00© 7.25 7.30© 7.65 7.65® 7.76 Liberal receipts at the local yards and large runs throughout the West caused hog prices to decline 15 to 25 cents in trading at the livestock exchange today. The decline carried the top for selected lights down to $7.75, as compared with $8 on Wednesday, while heavyweights sold down to $7. Shippers established the top for lights, followed by local packing interests, which again bought heavily on the decline. In extreme cases, in which medium hogs sold at $7.30 to $7.45, the decline might have been more than 25 cents. The bulk of the day’s receipts of 13,000, including 3,400 holdovers, sold between $7.40 and $7.65. Sows and pigs both declined in sympathy with the general market, pigs selling down from $7 and sows down from $6.50. A weak undertone again made itself felt in the cattle market and trading was at lower quotations. This market is oft 25 to 50 cents from the high time of last week, while some extreme cases in medium classes show declines of as much as $1 to $2, as only prime stock has lately found a ready market. Steers sold down generally from $10.85 and prime heifers from $9.75. Receipts, 1,200. The calf market was strong to 50 cents higher on active trading and light receipts. A practical top of sl2 was paid for choice veals and the bulk brought from sll to $11.50. Receipts 600. The sheep and lamb market was quiet., with trading at steady quotations, lambs selling down from $13.50 and sheep down from $6. Receipts, 300.
—Hogs—--150 to 200 lbs $ 7.85 7.75 Medium 7.300 7.05 Heavy 7.00® 7.25 Top 7.75 Pigs 6.50® 7.00 Packing sows 6.00@ 8.50 —CattleFew choice steers slo.oo® 10.85 Prime corn-fed steers 1.000 to 1.300 lbs 9.00® 9.50 Good to choice steers. 1.000 to 1.100 lbs 8.50® 9.00 Good to choice steers. 1.000 to 1,200 lbs 7.50® 8.00 Good to choice steers. 1.000 to 1.700 lbs 7.50® 8.00 Common to medium steers, 800 to 1.000 lbs 7.25® 7.50 —Cows and Heifers— Choice light heifers ..$ 8.30® 0.75 Good light heifers 7.00® 8.75 Medium heifers B.oo® 7 25 Common heifers 5.00® 6.00 Fair cows ....g 4.00® 5.00 Cutters 2.75® '3.25 Canners 2.25® 2.50 —Bulls— Fancy butcher bulls $ 5.50® 6.00 Good to choice butcher bulls. 5.00® 5.50 Bologna bulls 3.75® 4.50 —Calves— Choice veals sll.OOS'l 2.00 Good veals 10.00® 11.00 Medium veals ,B.oo® 9.00 Lightweight reals 7.50® 8.00 Heavyweight veals 7.00® 7.50 Common heavies 6.00® 7.00 Top 11.50 —Sheep and Lambs— Culls $ 2.25® 8.25 Good to choice ewes 3.00® 6.00 Few choice lambs 18 00® 13.50 Heavy lambs 11.00® 13.00 Cull lambs B.oo® 10.00 Other Livestock By United Financial CHICAGO, July 19.—Hogs—Receipts. 48,000; market 15® 26c lower: top, 87.65; bulk, [email protected]: heavyweight, $6.50® 7.45; mediums, [email protected]; light. $6.80®7.60; light lights. 56.45 @7.50: heavy packing, smooth $6 @6.35: paeging sows, rough, 50.75@6; killing pigs, 58.25@7. Cattle— Receipts, 10,000; market moderately active o>. better grades; spots shade higher; plainer grades and yearlings steady; early top matured steers, $11.50; yearlings, $11; she stock steady; bulls strong; calves steady; vealers to packers, slo® 10.50; stockers and feeders slow and steady. Sheep—Receipts, 14,000; market fat lambs weak to 25c lower; western nusold; early top natives, 513.75: culls, [email protected]; sheep generally steady. EAST ST LOUIS, July 19.—Cattle—Receipts, 2.500; market, strong to 26c higher; native beef steers. $9 @9.15; cows. $4.60® 5.50: canners and cutters, $2.60 @3.50; calves, $9.75. Hogs—Receipts. 14.000; market, active to 15c lower; heavy, $7 ® 7.45: medium. [email protected]: light*, $7.25® 7.65: light lights. $8.50®7.00: packing 'sows, [email protected]: pigs. [email protected]: bulk. $7.45 @7.QO. Sheep—Receipts. 2,500: market. 2oc lower: ewes. s3@6: canners and cutters, sl@3; wool lambs. $11.75® 13. CLEVELAND. July 19.—Hogs—Receipts, 4.000: market, 35e lower: yorkers, $8; mixed. $8: medium, $8; pigs. $7.25; roughs. $5.50; stags, $4. Cattle —Receipts. 600: market, slow and weak; good to choice bulls. $7 @ 8 50; good to steers. [email protected]; good to choice'heifers. s7® 8.60: good to choice cows. ss®6; fair to good coks. s3® 5; common cows, s2@3; milkers, s3s® 73. Sheep and lambfr—Receipts. 600; market. slow: top. 915. Calves—Receipts, 500; market. 60c lower: top, sl2. EAST BUFFALO. July 19.—Cattle—Receipts. 225: market, dull to steady: shipping steers. slo® 11: butcher grades. $8 @9; cows, $2.20 @B. Calves—-Receipts. 485 market, active to 50c higher; cull to choice, $4 @l3. Sheep and lambs—Receipts. 600: market, lambs slow to 50c lower; sheep steady: choice iambs. [email protected]: cull to choice. [email protected]; yearlings. $7 @11.50: sheep, [email protected]. Hogs—Receipt*. 4,800 market, active to 15®, 26c lower yorkers! $7.25 @8.35: pigs. $7.25 @7.30: mixed. $8.15 0 8.25; heavies. s3<iß.lo: roughs! [email protected]; stags. $4.2504.50.
1:45 Prer. High. Lots and. m. close. Anaconda ..42 40% 41% 40% Kennecott... 34 % 34 % 34 % 34 % Utah Copper 01 69% 61 60% Oils— Cal. Petrol.. 22% 22% 22% 22% Cosden 39% 39% 39% 39% Marland ... 38% .... 38% 39 Pan-A. Pete.. 60% 64% 06% 64% P.-A. P. (B) 62% 60% 02% 60% Phillips Peto 26 25% 20 25% Pro. it Rf.. 35% 35 Vi 35% 35% Royal Dutch 48 47% 48 47% S. Oil of Cal. 62 51% 52 61% S. Oil of N. J. 34% 33% 34% 33% Sinclair ... 24 % 24 % 24 % 24 % Texas Cos.. . 43 % 42 % 43 % 42 % Industrials— Am. Can .... 91 % 89 % 91 % 89 % Amer. Ice. . 04 % 93 04 % 93 Am. Woolen. 86% 82 80% 85 Coca C01a... 78% -77% 78% 77% Cont. Can... 45% 43% 45% 45 % lam Players 74 73% 73% 73 Inter. Paper. 37% 30% 37% .... May Stores.. 79% 78% 79V* 78 Mont. A Ward 21 2% 21 20% Owen Bottle 43 Vi .. . . 43 % .... Bearß-Rce.... 7.3 72 Vi 73 71 % U. S. In. Al.. 50 48 60 47% Am. T. & T.. 122 % 122% 122% 122% Consol. Gas.. 01% 61 61% 60% Columbia G.. 34% 34% 34% 35 Shipping— Am. Int. Cor. 20% 19% 20% 20 Atlantic Gulf 15 18% 14% 12% In. M M. pfd 24% Foods— Am. Sugar.. 64 63% 04 63% Am. B. Sg.. 31% 81% 31% 32 Com Prod.. 123 121% 123 120% C. C. Sr- Pfd 4.3% 42% 43% 42% C.-Am. Sg... 27% 27% 27% 27% Punt a Alegre 52 SIA 62 51 % A. Tob. Cos.. 146% 145 146% 144% Tob. Prod... 81% 81% 81
ceipts. light; market, steady; choice, $10.50 @11; good, [email protected]; fair, [email protected]; veal calves, sl2 @l3. Sheep and lambs— Receipts, light; market, alow; prime wethers, '[email protected]; good $0.50@7; fair mixed, ss@6: lambs. s7ftl4. Hogs—Receipts, 16 double decks; market, lower; prime heavy, [email protected]: medilums, [email protected]: heavy yorkere. $8.25 @8.35: light yorkers. $8 ft 8.25; pigs, [email protected]; roughs, $5.25® 3,75: stags, $3 @3.60. KANSAS CITY, July 19.—Cattle—Receipts, 5,000; calves, 1,000: slow; mostly steady in practically classes weight 1,114 lbs., 51125; better grades Stockers and feeders fully steady; few early sales at [email protected]; calves around steady. Hogs —Receipts, 9.000: active, mostly 10c lower; early shippers, top, $7.10; packers, $7.05, some held higher: bulk desirable i80@270-lb. averages. s7© 7.05; packing sows 25c lower; bulk. [email protected]; stock pigs weak to 10c lower: bulk. [email protected]. Sheep—Receipts, 2.000; native lambs, 60@ 75c lower: top. sl3; other sales better grades mostly numerous around sl2 60; culls, $6.50: practically no sheep offered. CINCINNATI. July 19—Cattle—Receipts. 1.200; market, steady to dull weak: ship pers. $8.50© 10.25. Calves—Market, steady: extras, slo© 10.50. Hogs—Receipts. 4.000; market, slow to 15 @ 25c lower good or choice packers. $7.70. Sheep—Receipts, 3.000: market, strong: extras. s4@o. Lambs —Market, weak, slow; fair to good. sl4 @14.50. ESSENTIAL STRENGTH OF CURB MARKET DISPLAYED Oils Stocks Move Forward Despite IMsooßraging News. By United Financial NUW YORK, July 19.—The curb market showed Its essential strength today when, after a slow but firm start, It broadened out with' substantial gains the rule. Despite news of crude oil continued heavy production and crude price cuts in Ohio, the oils displayed a vastly Improved tone and moved ahead. The thirteen-point rise to 226 In Standard Oil of Nebraska stood out as the most conspicuous oil gain of the week. In the afternoon Gillette Safety Razor picked up a gain of 1% to 339%. In the motors, Reo, which hung behind in Wednesday's general advance, got slightly above its close at 16%. Slump In the stock in the last few days from its recent high above 17 came with bearish rumors on the motor industry.
Produce Markets
INDIANAPOLIS. July 19.—Fresh eggs. 19c: packing stock butter, 23c: springs, 1 Mi to 2 lbs., 38c; fowls, straight, 18c; fowls, under 4 lbs., 15c; leghorns. 25 per cent die count; cocks. 9c; young tom turks, 23c: old tom turks, 18c;< ducks. 5 lbs. 12c. geese, 10 lbs, up, 10c; squabs, 11 lbs. to dor. . $5 Indianapolis creameries are paying 37c a lb. for butter fat. CHICAGO. July 19—Butter —Receipts. 7.408: creamery extras. 37He; standards. 37c: firsts. 34@86c: seconds. 33He Eggs —Receipts. 12.530; ordinary firsts. 20 H@ 21c: firsts. 22*4@22He Cheese—Twins. 22He; young Americans. 23He. Poultry— Receipts. 4 cars; fowls. 18@22c; ducks, 20 @23e; geese 14@21c turkeys. 20c: rosters, 14c; broilers, 28® 37c. Potatoes— Receipt#) 60 cars: sacked Kansas and Missouri Irish cobblers. 92 02.10; poor. $1.75: early Ohios. $1 [email protected]; poor. $1.45 (most stock heated) : Kentucky Irish cobblers mostly $2.50; barrels Virginia Irish No. 1, mostly $5.60. CLEVELAND. July 19.—Butter—Extra in tubs. 41@43c: prints, 42® 44c: firsts. 39@41e: packing stock. 30@32c Eggs— Fresh northern extras. 30c: Ohio firsts. 25 He; western firsts, new esses, 24c. Poultry—Heavy fowls. 25® 28c; light fowls, 18@20c; cocks, 16c; broilers, 38® 40c: ducks, spring. 27® 28c. Potatoes- — Virginia Cobblers. $6.5005.00 per brl: poor. $4. NEW YORK. July 19.—Flour, quiet and steady. Pork—Bull. Mess—s2i®-26.r>0. Lard—Easy: middle west spot. sll.4o®' 11.50. Sugar—Raw. quiet: centrifugal. 96 test. 7.03 c: refined, quiet; granulated. 8.75 @9e. Coffee—Rio No. 7 on spot. 11c: Santos. 12 91013 He. Tallow—^lnactive: speeail to extra. 6%@oHc; city. 59c. Hay —Quiet No. 1. $13.50@14; No. 3, *ll 12. Dressed poultry—Steady: turkeys, 25® 42c: chickens. 26 @ 47c: fowls. 13@30e: ducks. Long Island. 25c. Live poultry—steady: geese, 15c; dues. 14®26c. fowls. 20 @26c; turkeys. 20c roosters. 15c: broilers. 27®42c. Cheese, firm: state whole milk, common to specials. 20 @26 He; state, skims, common to specials. B@l7He. Butter —Quiet; receipts 24,951; creamery extra. 38 He; special market, 89@T39Hc: state dairy tubs, 34Hj@38c. Eggs—Dull; receipts, 23,418: nearby whites, fancy, 40® 45c: nearby state whites, 36 @ 43c; fresh firsts to extras, 23H@32e: Pacific coast, 80@39c; western whites, 26®43e; nearby browns, 33® 41c. Raw Sugar Market Bu United Financial NEW YORK, July 19.—Raw sugar market opened higher. July, 5.05 c bid: September. [email protected]; December, [email protected]: March, R41®3.42c: May. 3.46® 3.48 e. Iriithe Cotton Market Bu United Financial NEW YORK. July 19.—Cotton opened higher. July. 26.68 c, up 8: October. 23.80 c, up 7; December, 23.33 c. up 11: January, 23.05 c, up 9; March 23.03 c, up 7. Local Wagon Wheat Local mills are paying 90c for new No. 2 red wheat. Local Hay Market Loos hay—s2lo23; bales, $20022; heavy mixed haiy, $20@22: light mixed hay, $lB 020. Corn—92® 95c. Cloverseed Market Cloversecd was quoted at $7 @lO a bu. in Indianapolis. Dressed Beef Prices Wholesale selling prices on dressed beef. Swift A Cos : Ribs—-No. 2. 20c; No. 8. 10c. Loins—No. 2,30 c; No. 3,10 c. Rounds— No. 2,22 c; No. 3,18 c. Chucks —No. 2, 10c; No 3, Bc. Plates—No. 2. 6c; No. 3,4 c. Bartender Arrested Alexander Thomas, 34, bartender at 17-15 N. East St., was arrested early today by Lieutenant Cox and a squad of police on a charge of operating a blind tiger. A pint of white mule, thirteen empty half-pint bottles, two buzzers with many feet of wire, two funnels and measures were brought
THE INDIANAPOLIS TIMES
WHEAT RECOVERS' TO DOLLAR MARK V Damaging Reports From Northwest Aid in Rally. By United Financial CHICAGO, July 19. — Grain prices rallied and closed substantially higher on the Chicago Board of Trade today. All deliveries of wheat sold above a dollar a bushel. Reports of damage to wheat In the Northwest over a wider area than heretofore expected were responsible for a good class of buying near the close. Private advices from Minnesota and North Dakota told of considerable black rust infestation and some damage was reported from the Canadian Northwest. Corn prices responded to reports of hot dry weather over a considerable portion of the belt. Rain Is needed badly in Oklahoma, parts of Texas, Nebraska and Kansas, these advices stated. As In the wheat pit, short covering gave added impetus to climbing prices. The oats trade was quiet with prices following along in the path of corn and wheat. Provisions remained lower throughout the session due to lower hog values. Chicago Grain Table —July 19— WHEAT— Prev. Open. High. Low. Close, close. July . .99% 1.01% .98% 1.01% .99% Sept. . .98 1.00% .97% 1.00% .98% Dec. .1.01 1.03% 1.00% 1.03% 1.01% CORN— July , .84 .84% .83% .84% .84 Sept. . .70 .77 .75% .76% .77% Dee. . .03% .64% .03% .64% .62% OATS July . .39% .40% .39% .40% .39% Sept. . .36 .35% .34% .35% .35 Dec. . .36% ,37% .36% .37% .30% LARD— July 10.93 10.92 1082 10.85 10.92 Sept. 11.00 11.05 10.97 10.97 11.05 RIBS— July . 8.70 8.70 800 8.60 8.70 SAr t.. 8.85 8.85 8.70 8.76 8.85 RYE— July . .62% .68% .62% .63% .62% Sept. . .64% .60% .04% .66% .64 CHICAGO. July 19.—Car lot receipts: Wheat, 79; com, 145; oats, 63; barley, 6. CHICAGO. July 19—Primary ’receipta: Wheat 857,000. against 1.702.000 com 640.000. against 927,000: oat* 442,000. against 619.000 Shipments: Wheat 864,000. against 776.000; com 330.000. against 1.287.000; oats 504,000. against 650.00. CHICAGO. July 10—Wheat—No. 1 red, $1.00% @101: No 2. $1.00%: No 3. 99 %e@ SI.OO %; No. 2 hard. $1 00% @ $1.00%. Com—No. 1 yellow, 88 @BB***-; No. 2. 88ft 88 %c; No. 0,85 c; No. 1 mixed, 85c; No. 2. 85©85 %c; No. 1 white. 87 %c; No 2,87 ft 87 %o; No 0. 84c Oats—No. 3 white. 40% ft 42 %c; standard, 37c. Barley —62 ft 09c Rye—No 2, 68% ft 04c. Timothy—ss 50@6 50. Clover —$15ft 17.50
Grain Briefs
CHICAGO. July 19 —The upward swing of the grain market Wednesday was found to be baa**! almost solely on short covering. Outside buying was still lacking in appreciable volume Damage to the wheat crop by black rust seems confined almost exclusively to South Dakota. Iri North Dakota the crop is nearly ripened with practically no danger of rust. The local trade has become Interest'd In the possibility of froet catching the Canadian <top, which is said to be very late in many sections "We do not believe there Is anything in the world's wheat situation to warrant belief rtiat prices are going to the bowwow#," said S. C Harris of Cross, Roy A Saunders. December com Is gaining many friends in the local trade There wa# more than a fair class of buying In the deferred delivery Wedneeday. September com at the same time was being sold. GOTHAM JEWELERS FLEECED JF GEMS NEW YORK, July 19.—Five Malden Lane jewelers, noted for their keenness in sizing up persons, have been fleeced out of SIOO,OOO in gems in the last few weeks by a plausible stranger from Russia, It was disclosed here. Mirebeau C. Towns, one of the five, who admitted a costly failure in judgment, said the man had come to him as a salesman with apparently unassailable references and. beginning in a smq.ll way to take out gems t,o sell on commission, had built up a good credit. Meantime, he was building up credit at the other firms in the same way, pawning some of the jewels in order to pay the owners of others for gems represented as having been sold. When he had pyramided his credit to SIOO,OOO he dropped out of sight, and the jewelers and police are still looking for' hfm. , The richest single gem stolen was a five and onehajf-carat emerald, belonging to Mr. Towns, which was valued at $14,000.
We Offer $125,000 Madison County 5% Orphans 1 Home Bonds Exempt\from all Federal and Indiana Taxes except Inheritance Tax. Interest payable January and Treasurer's Office of Madison County at Anderson, Indiana. -*• Dated July 16, 1923. Denomination SI,OOO. ' MATURITIES $6,000 July 16. 1924 SIO,OOO July 16, 1930 SIO,OOO Jiily 16, 1925 SIO,OOO July 16, 1931 SIO,OOO July ,16, 1926 SIO,OOO July 16, 1932 SIO,OOO SIO,OOO July 16, 1928 SIO,OOO July 16, 1934 SIO,OOO July 16, 1929 SIO,OOO July 16, 1935 *IO,OOO July 16, 1936 These bonds are a direct obligation of Madison County, of which Anderson is the County Seat. FINANCIAL STATEMENT Assessed Valuation $97,578,455 Total Debt 246,000 The constitutional debt limit on county Issues in Indiana is 2 per cent. The debt of Madison County is about Vi of 1 per cent and could be increased more than seven times and still be within the limit of Indebtedness fixed by the constitution of the State of Indiana. The legality of this issue has been approved by our counsel, Messrs. Smith, Remoter, Hornbrook & Smith. Price to Yield 4V£% Income Basis BREED, ELLIOTT & HARRISON 109 North Pennsylvania Street. INDIANAPOLIS Cincinnati Detroit . Chicago
WATER USERS PAY OVERHEAD PROFIT (Continued From Page 1) tion, the life of property and depreciation reserves and methods. Everybody concerned frequently ad mitted they did not know exactly what it was all about. Fanciful Figures Not Wanted Groninger remarked at one stage that “we are here to get the facts and not mere fanciful figures.” Objections to the proposed rate in crease were entered by three lawyers. Clarence E. Weir, E. O. Snethen and Sumner Clancy. Those signing the objections are John F. White, Thomas P. Woodson, Lewis L. Fellows, George W. Beeman, Philip W. Yant, Ray Thompson, Pearl Randall, William J. Pratt, William H. Moore and James R. Anthony. In discussing the admission by the commission Wedneeday as evidence of an order fixing the valuation of an order fixing the valuation of the water company property at more than $16,000,000, Commissioner Ratts, at the opening of the session said he was doubtful whether the order should be considered as evidence and that, although it had been admitted, It might not be so considered. The entire fight is based on the value of the company’s property. If the value Is high, according to public utility theory, high rates would be necessary to insure a reasonable return on the investment. If the value j Is low, rates could be correspondingly j lower. Valuations Differ The city contends the property Is worth less than $11,000,000, this figure being based on a valuation found j by the commission In 1917, plus net j additions and betterments, less depre- j elation. The company Is standing on a valuation of $16,455,000 made by the commission in January for tbe purpose of enabling the company to j issue securities. The commission, on its own motion and over the objection of attorneys for the city, the Chamber of Commerce and civic leagues, introduced this valuation and the testimony leading up to It in evidence. Attorney Gives Defense W. A. Mclnerny, attorney for the water company, in the course of the argument In which he defended the action of the commission, declared he had Intended to ask that the order and record be Introduced as part of the company’s case. Commissioner Glenn VanAuken, who Insisted upon Introduction of the 1923 valuation, declared that the pre vious order would not bind the commission in the present case, but that he believed It should be In evidence because of "wild’’ statements of attorneys representing consumers concerning the valuation. Improvements Shown Clarence E. Weir, attorney representing consumers, said nobody at templed to reach a fair value in the most recent valuation order because nobody cared how many securities the water company issued on its own property. Earl Carter, chief engineer of the commission, was on the stand when the hearing reopened. He had Introduced exhibits showing additions and betterments made by the company. He also introduced figures on the value of non-operating property. Increase In Income Harry Boggs, auditor for the com mission, said the gross income of the company showed an Increase of $52,312 for the fiscal year ending March 31, 1923, over the previous year. Boggs testified it was necessary to go to the office of Clarence H. Gelst, president of the company. In Philadelphia, to see the books. He testified Geist receives a salary of $12,000 a year as president of the Indianapolis company only. He is interested in many other companies. Shank's Hequeaf Resented An echo of the fight made by Mayor Shank on Commissioner Edgar M. Blessing on the ground he recently visited Gelst at Atlantic City ■was heard in the hearing. J. Stephen Fullen, attorney appearing In Shank's own behalf, asked Commissioner Oscar Ratts, who is presiding, to rule on a motion asking that Blessing take no part in the final decision of the case. “Mr. Blessing Is not participating in this case,” Ratts replied. “Inquiry into our secret conferences and the assumption we will not do the right thing will not be permitted. We have no power and no disposition to join In any such proposition as this. There will be no action on this petition,”
It W*H. BLOCK C? Hart Schaffner & Marx guaranteed clothes for men, young men and boys (8 to 18)
A Phenomenal Value — One-Day Sale—Friday Only 5,000 Apron Frocks Sizes for || gg Women and _Jp / St Misses 3 for $2.50 GARMENTS CUT FULL AND ROOMY Dozens and dozens of attractive styles to choose from. Good quality ginghams and standard percales; every garment guaranteed fast colors. Light and dark patterns. * Attractive styles suitable for morning, street, porch or outings. Fitted waist models or straightline effects. This sale has been in process of production for weeks. The markets were combed for the very best values. Choice patterns and styles have been creamed from the stocks of the best manufacturers. More than 1,000 aprons taken from our higher priced stocks, that sold as high as $1.25, have been added to this collection.
We urge our patrons to avail themselves of this opportunity to secure a season’s supply of these apron frocks-, as we consider this one of the finest groups of aprons we have been able to offer for a long time.
Beddings—Domestics
PILLOW CASKS Inch**; wide hems (limit 4 to CUS- 1 Q BLEACHED MUSLIN Yard wide. Host finish (limit 10 yards to cuitomtr), 1 r. 22c quality IjC LONG CLOTH Yard wide, chamois finish; 25c | -r quality I.C WHITE OUTING FLANNEL —Double fleeced (limit 10 yards to cus- 101/ tomer) 1Z /2C WHITE VOILES—4O Inches wide; fine and crisp, mercerised ; 29c ✓ *) quality CCC BEACH CLOTHS wanted colors ; 25c quality 1/C BEDSPREADS —Large double bed size; extra heavy; slightly imperfect; nr $3.00 quality SEAMLESS BLEACHED SHEETB—DoubIe bed size; deep hem. (Limit two to customer) ; $1.25 qq quality ; each ?OC SEAMED SHEEffc Double bed size; bleacbed or unbleached. (No phone order.) Extra special, each I VC FANCY CRETONNES—Rang of ntltterr* find able for draperies, furniture sups, etc. . up r 25c qualities 3C
‘Sweet-Orr* Overalls and Jackets ~ $1.98 • Os white bark blue denims, continuous high back, broad suspender straps. Jackets, sizes 36 to 44. Overalls, sizes 34 to 42. Limit 2 garments to each customer.
MEN’S WORK SHIRTS —BIue, tan, gray, black and dark blue, one and two pockets; collars attached; sizes 14*4 to 17. Seconds of up to $1.25 qualities (3 for f?n_ $2.00), each 057 C MEN’S SOCKS Mercerized and fine combed yarns; fully reinforced. Black, cordovan, gray and champagne. Sizes 9*4 to 11 H. Seconds of 25c
Hosiery Specials
WOMEN’S MERCERIZED HOSE— Ribbed, elastic tops; fully reinforced; brown, sizes 9H, 10 and 10*4, white in sizes 9*4 and 10. Seconds of 65c quality, OCpair L DC
THE BASEMENT STORE
BLEACHED SHEETING —2*4 yards wide; 54c quality (limit 5 yards to JA customer) *t£C UNBLEACHED SHEETING—--2H yards wide (limit 5 yards to customer), 75c UP quality, extra special. ..ODC UNBLEACHED SHEETING— Yard wide; 22c | r quality ADC PERCALES—Yard wide, small figures, stripes, dots, floral patterns; up to 25c IC* qualities lOC PRINTED VOILES — 4O inches wide; fine and sheer, dark colors for summer q dresses; 35c quality .. ioC ABSORBENT CHEESECLOTH Yard wide— CO* 10-yard bolt. D9C CUSHION PILfyOWS Cretonne coverings, assortment of patterns (while <)7_ they last) CIC FAST COLOR APRON CHECK GINGHAMS inches wide, blue 1 01/.* checks; 17c quality. \L /2C CURTAIN SCRIMS Yard wide, double open work borders, tape edge; white, cream and ecru; 1 A 19c quality
MEN’S "SEALPAX” ATHLETIC UNION SUlTS—Sizes 34 to 46. Sell elsewhere at $1.35. A special purchase enables us to sell them regularly at SI.OO, specially priced for one day and a half at (limit two suits to 7ft a customer), each SJJC JIFFY JUMPERS—Of khaki twill cloth, very convenient for auto use; on SI.OO quality JjC
CHILDREN’S 8 TOC K I NGS AND HALE HOSE Reinforced toes and heels, black and cordovan. Slses 6 to 9)4- Firsts and seconds up to 35c qualities, zOI/ Pair \LVIC
Candy Specials WRAPPED FRESH BLACK < WALNUT KISSES—Pound.. IDC BUNTE’B HIGH GRADE COCOANUT TEA BISCUITS— n a Pound OLD FASHIONED PEANUT mi BRITTLE—Pound £AC Records, 2 for $1 Our Ten Best Seller* —Red Head Gal —You’ve Got to See Mama —Yes, We Have No Bananas —You Tell Her; I Stutter —Dearest Ts? —Farewell Blues —Barney Google —Snake’s Hips —Louisville Lou —I Love Me —You Know You Belong f Someone Else —And all other Late Hits. Millinery Sale of Sports and Leghorn Hats, _ $2.45 Up to $4.95 Qualities 150 White sports hats—7s lefhorn hats. Garden Hats v. i . Untrimmed, 79c While 75 last Sports Hats, 59c Odd lot of wanted materials and colors. While limited supply last, choice, 59<L
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