Indianapolis Times, Volume 35, Number 70, Indianapolis, Marion County, 2 August 1923 — Page 11

THURSDAY, AUG. 2,1923

UNUSUAL DIM p OF STRENGTH IS MADEBYLEADERS Whole List Rallies With Support in Evidence in Every Corner, The WALL STREET JOURNAL NEW YORK, Aug. 2. Stocks opened firmer today on a fair amount of activity with the gains ranging from a fraction to more than a point Steel went to within % of the high of Wednesday. Reports continued to relate improvement In President Harding’s condition, while another favorable development was the new high record car loadings made in the week ended July 21. Sterling opened off as did most of the other foreign exchanges. First Hour. Strength and activity developed around 10:30 with all stocks selling above the highs of Wednesday and with even one stock getting to anew high. This was American Locomotive, which touched 71*8. Foreign developments apparently gave way to th-; preponderant pressure of evidence that American industrial activity is son a sound basis, ample testimony of Pthis condition having been brought to light in the splendid earnings state ment of many leading industrials. Second Hour Strength continued into the second hour with leading issues bettering levels made in the first hour rally. Large traders w'ho have successfully practiced the rule of going short on every transaction, in expectation of new low prices on the reaction, were , disappointed when their theory failed to work. Cosden Oil at 33 particularly ; indicated rather hurried covering, I W'hile all oils were benefited by continued strength in Pan-American issues. Baldwin was up 4 points from -Tuesday’s low. Noon Hour Strength continued in stocks into the noon hour, with trading less active and more attention devoted to the rails. Stop-loss covering orders were reported in quantity above the cur- j rent level3 and call money reacted to 4% after renewing at 5 per cent. Leading rails were a point above the previous close in many cases, with Northern Pacific reaching 59. the best price on the recovery, while Chicago & 1 Northwestern was up a point at 64%. j Fourth Hour. Going into the fourth hour stocks j reacted about a point from highs made earlier in the day, and though the volume of trading was not heavy, the list receded further, though rails |*vere relatively firm. Trading was inptiuenced by lower wheat and cotton values and lower exchange rates. Professionals, observing the break in the market, lost no time in taking advantage of the situation to sell those stocks which had made the most outstanding gains. Closing Hour Rails were relatively firm in the closing hour with the exception of Rock Island issues, the common stock having dropped two points to 20 %. However, recessions were the rule in most stocks, as traders had been keen to take advantage of any weakness and to play the “soft spots” that appeared on the break. By the end of jthe session most stocks had lost their j early gains and were moving in a generally downward direction. Local Bank Clearings Indianapolis bank clearings Thursday were 53.449.000. bank debits were $5,670,000 New York Money Market Bu United Financial NEW YORK. Aug. 2.—Time money market dull. Trading done at 5Vi. Commercial paper mraket Quiet. Bulk of business at ft 14 per cent, with a email volume. Some names at 5 per cent. Foreign Exchange By United Financial NEW YORK. Aug. 2.—Foreign exchange colsed lower. Sterling, demand. $4.56 Vi. Francs, demand. 5.74 Vic. Lire, demand. 4.32 c. Belgian, demand. 4.57 c. Marks, ‘ 1,087.000 to dollar. Cxecho, demand, 2.92 V4c. Swiss, demand. 17.85 c. Guilders. -39.29 c. Pesetas demand. 14.02 c. Sweden, fcemand. 26.50 c. Norway, demand, 15.94 e. ■Denmark, demand. 18.16 c. Produce Markets INDIANAPOLIS. Aug. 2.—Fresh eggs. 19c; packing stock butter. 25c: springs. 1% to 2 lbs.. 33c: fowls, straight. 18c: fowls, under 4 lbs.. 16c: leghorns. 25 per cent discount, cocks, 9c: young tom turks. 23c; old tom turks. 18c: ducks 5 lbs.. 12c: 'geese. 10 lbs up 10c: squabs. 11 lbs. to doz.. $5. Indianapolis creameries are paying 37c a lb. for butter fat. “ CHICAGO. Aug 2.—Butter—Receipts. 5.925: creamery extra. 41c: standards, 41c: firsts. 36%@38e: seconds. 35@30c. Eggs —Receipts. 9.265: ordinary firsts. 23%c: firsts, 25@25Vic. Cheese—Twins. 21 Vi @ 22c: Young Americans. 23 Vi® 24c. Poultry —Receipts 4 cars: fowls. 17®21c; ducks. 11@24c; geese, 16@21c: springs, 29c: turkeys. 20c: roosters. 14c: broilers. 25c. Potatoes —Receipts. 126 cars. Quotations: Kansas and Missouri cobblers, $1.90® 2.15: poorly graded, $1.7561.85; Kansas early Ohtos. $1.76® 1.85; poorly graded, sl.Bo ® 1.75'. CLEVELAND. Aug. 2.—Butter —Extra in tubs. 45@47c: printa, 46%@47%c: firsts. 43*1 44c: packing stock, 30Vi @ 3$ He. Eggs—Fresh gathered northern extras, 30Hc: Ohio firata. 80%@32%c; western firsts, new cases, 24He. Poultry —Heaw fowls. 25c: light fowls. 18® 20c: cocks 14® 15c: broilers. 35c; ducks, spring, 25c. Potatoes—Virginia cobblers. $4.90® 5.25 per barrel: $3.40® 3.50 per 150-pounds. NEW YORK. Aug. 2.—Flour—Steady but dull. Pork —Dull. Mess—s2s® 25.60. Lard—Firmer: middle west spot, sll.lo® 11.20. Suear —Raw. weaker; centrifugal. 90 test. 5.96 c: refined, weaker: granulated. 7.90® 8. Coffee—Rio No. 7 on spot. 10H @lo%c: Santos. 13@14c. Tallow —Steady: special. 6H @6 % ; city, s Vic. Dressed poultry—Dull: turkeys. 25®42c: chickens. 34® 44c: fowls. 14® 30c: ducks. Long Island. 25c. Live poultry—Dull: geese. 10c ducks. 14@28c: fow's. 20025 c: turkeys. 20c: roosters. 15c: broilers, 20®35a. Cheese —lrregular: state whole milk, common to specials 18@20Hc: state, skims, common tto specials. B@l7c. Butter—Ftmr: reP .x>tpts. 5,821: creamery extra. 42c: special market. 42 V* 6 43c. state dairy tube. 35® 41 Vic. Eggs—Firm: receipts. 20.881; nearby whites, fancy. 44® 47c; nearby state whites 26® 45c: fresh firsts to extras. 25%@35t: Pacific coast. 26® 39c: western white. 26® 45c: nearby browns. 34® 41c. Dressed Beef Prices Wholesale selling prices on dressed beef Swift A Cos : Rib#—No. 2. 20c: No. 8. 16c. Loins—No. 2. 30c: No. 3,16 c. Rounds —No. 2. 23c: No. 3.16 c. Chucks—No. 3.4 c

New York Stocks (By Thomson A McKinnon) -—Aug. 2

Railroads— At 1:45 close. High. Low. p. m. close. Atchison 90.V4 95 % 96 V* 95 % B. & 0 48% 47% 47% 47 H C. & 0 58% 68% 58% C. & N.W.Ry. 04 H 63 H 63% 63 H C„ R Sc P... 22 H 20 22% Gt. No. pfd. . 57 H 55 % 57 % Mo. Pac. pfd 28% 26 20% 26 H N , Y. Central 98% 97% 97% 97% North Pac... 59% ... 50% 58% PereMarq... 41% 41 41% 40% Reading .... 75 % 74 % 74 Vi 74 % So Pacific... 86% 85% 85% 85% St. Paul pfd 29% 28% 28% 29% Dn Pacific ..127% 127 127 127% Wabash pfd.. 25% 25% 25% 25 Rubbers— Kelly-Spring. 31% 30% 31% 30% U S Rubber. 40 39 39% 39% Equipments— Am Loco . . 71 Vi 70 71 69 % Bald Loco ..115% 113% 113% 113% Gen Elec ...175% 175 175% 175 Vi Lima Loco.. 07% 61% 61% 60% Westh Elec.. 50% 56 50% 56% Steels — Bethlehem... 48 47 47% 47 Crucible .... 62 60% 00 % 61 Gulf States.. 72 70 70% 69% R. Iron AS 44% 43% 44% 43% ,U. S. Steel. 88% 87% 87% 87% Motors — Chandler M.. 49% 49% 49% 48% Geu. Motors 14 .... 13% 14 Max. M. (A) 40% 39% 40% 38% Studebaker .104 102 103 102% Strombcrg. . . 67% 05% 07 65% Stewart-W... 88 85% 80% 85% Timken 38 37% 37% 37 Oils— Cal. Petrol.. 19% 18Vi 19% 19 Cosden 33% 32, 32% 32% Marland Oil. 30% 29 29% 28%

VALUE OF GRAINS LOWERAT CLOSE Wheat Slumps, Due to Lack of Outside Support. Bu United Financial CHICAGO. Aug. 2. —An extremely dull market caused grain prices to slump at the close on the Chicago Board of Trade today. Wheat experienced one of the dullest days In several months. Practically nothing was done-throughout the entire session. Outside support was lacking and only what business was done between locals created a market. Export demand was also absent. Germany, usually a heavy buyer of winter wheat at this time of the year, so far has taken very small amounts, while other importing countries are purchasing on a hand-to-mouth basis. The irregular foreign exchange rate, together with unstable European economic conditions, was assigned by experts as the reason for the slump in export business. Weakness in wheat reflected in the cash market and as a result prices slumped materially. Demand for spot goods failed to come to life during the day’s trading $ Little apprehension was felt for the Canadian crop believed to have suffered severely from the frost and snows of Tuesday. Com lacked support and eased off late. Cooler weather and showers over the western grain be’t have relieved fears of crop damage from firing and drought. Reports from lowa declared beneficial rains fell most of the day. Sections in Illinois, Kansas and Oklahoma received some moisture. but more is needed. Stocks in country elevators increased with liberal country offerings, indiacting continued use of wheat, for feeding purposes due to the relatively low r prices. A less urgent cash demand existed for corn and these prices suffered a down-turn. Oats eased o ffwith other grains and a lack of demand. Cash prices also went down, reflecting the movement in other markets. Provisions felt the effect of selling by longs, who were Induced to sell out by Wednesday's statement showing stocks at Chicago had Increased 11,000,000 pounds during July. Chicago Grain Table —Aug. 2 WHEAT— Prer Open. High. Low. Close close. Sept .98 .98% .97% .97% .98% Dec.. 1.01 1.01% 1.00% 1.00% 1.01% May. 1.05% 100% 1.05% 1.05 % 1.05% CORN— Sept. .77% .77% .76% .77 .77% Dec. .63% .63% .03% .63% .63% May. 65% .65% .65 % .65% -65% OATS— Sept. .35% 35% .35% 35% .35% 37% .37% .37% .37% .37% May. 40.40% .39% .39% .40 LARD— Sept 10.77 10.82 10.65 10.05 10.85 RIBS— Sept. 8.25 8.27 8.10 8.10 8.20 RYE— Sept. .64% .64% .63% .03% 04% Dec.. .07% 07% .07 .07 .07% CHICAGO. Aur 2.—Car lot receipts: Wheat, 319; corn. 215: oats. 107; rye. 1: barley. 13. Cash Grain INDIANAPOLIS. Aug. 2.—Total receipts for the day, 108 cars . Grain prices quoted f. o. b. basis. 41 %c to New York. The bids lor car lota ol grain and hay at the call of the Indianapolis Board of Trade were: Wheat—Through billed: No. 2 red, 90 @92c. Corn—Strong: No. 2 white. 82%@83c; No. 3 white. 82 @82% c; No. 2 yellow, 82% @B3c: No. 3 yellow, 82@82%c; No. 2 mixed. 80® 82c. Oats—Steady: No. 2 white. 40®41c: No. ~3 white. 39® 40c. Hay—Firm: No 1 timothy. [email protected]; No. 2 timothy, sl9® 19.50; No. 1 light clover mixed. $lB @18.50; No. 1 clover hay, $17.50® 18; new hay. [email protected] under old. —lnspections Wheat—No. 1 red. 2 cars; No. 3 red. 30 cars: No. 3 red. 20 cars: No. 4 red. 3 cars: No. 1 hard, 0 cars; No. 1 mixed. 1 ear: No. 3 mixed. 1 car. Total. 63 cars. Corn—No. 2 white. 0 cars; No. 3 wihte, 2 cars; No. 4 white. 1 cars; No. 5 white. I ear: No. 1 yellow, 1 car: No. 2 yellow, II cars; No. 3 mixed, 2 cars. Total, 24 cars. Oats—No. 2 white. 8 cars; No. 4 white. 9 cars; sample white. 2 cars; No. 1 mixed. 1 car. Total. 20 cars. Rye—No. 1, 1 car. Total, 1 car. CHICAGO. Aug. 2.—Wheat—No. 1 red. 99 % @99 %c: No. 2, 99@99%e: No. 3. 98 %@9B %c: No. 2 hard. 98%@99%c: No. 3. 98 Vi @8 %c Com—No. 1 yellow. 88%@8e: No. 2 yellow. 88@89e; No. 3. 88%@88%c: No. 2 mixed. 87%@88c: No. 3, 87 %c: No. 1 white. 87 %c: No. 2, 87 Vi @B7%c: No. 3. 87 % @87% v. Oats—No. 3 white, 37 % @ 39c. Barley—62 % 05c. Rye—No. 2,00 c. Timothy—s4.so @5.50. Clover—sls @l7. ST. LOUIS. Aug. 2.—Wheat—No. 1 red, 90% @97%c; No. 2. 96c; No. 3. 95% 0 97c; No. 4,95 c: No 5. 91c: No. 1 hard. 96%c: No. 2. [email protected]; September. 90%c: December, $1.00%. Corn —No. 2 white. 87 %c: September. 77%c: December. 33 %e. Oats—No. 2 white, 44c: No. 3. 42%@43c: No. 4, 42%c: September. 35%c. TOLEDO. Aug. 2.—Wheat —Cash. $1 00% @1.01%. Corn—Ca?h, 92%@94%e Rye —Cash. 68%c. Oats—Cash. 45% @47%c. Barley—Cash. 72c. Clover seed—Cash. $11.05. Timothy—Cash. $3.15. Alsike— Cash, $10.15. Butter—44c Eggs—23® 25c. Hay—s 22. In the Cotton Market #y United Financial NEW YORK, A#g. 2.—Cotton market opened higher; October. 22.50. up 9; December. 22.44. up 11; January, 22.30, tip 15; March. 22.30, up 15; May, 22.30, up 15.

1:43 Prev „ . High. Lew o. m. close g"Am Pete 01 59% 59% 68% P-A. P. (B) 69 57 57% 50% Phillips Pete 22 % 22 22 21 %” Pro. A Ref.. 31% 30% 30% 30% D 41% ... 41 % 41 3. OH of C 48 V* 47% 47% 47% S. Oil of N. J. 32 3131 % 31% Sinclair 22% 21% 22 21% Texas Cos 41% 40 Vi 40% 40% Minings— ' * Int. Nickel. , 12% 12% 12% 12% Coppers— Am. Smelt... 55% 55% 56% 54 * Anaconda . . 40 % 4040 % 39 % Kenr.ecott .. 34% 33% 33% 33% Industrials— Allied Chem. 05% .... 05 64 Am. Can.. 89% 88 88% 87% Am. Ice ... 88% .... 88% 89% Am. Woolen. 80 84% 85 83% Coca-Cola . . 77% 76% 70 Vi 70% Cont. Can.. 47% 40% 47% 40% F. Players .. 73 72% 72% 71% Inter. Harv. 74% 73 74 73% May Stores. 74% 73 74% 72% S.-Roebuck. 73% 72% 73% 72% U. 8. In. A.. 47 40% 47 40% Utilities— Am. T. A T. 122% 122% 122% 122% Con. Gas... 01% 61% 61% 60% Columbia Gas 33% 33% 33% 32% Shipping— A. Int. Corp. 18% 18 18 18% Atlantic Gulf 13% 13% 13% 12% I. M. M. pfd. 23 Vi 23% 23% Foods— Am. Sugar. 51*4 58% 58% 68% Punta Alegre 44% 43 43% 42% Tobaccos A . Cos 144! " T°b. Prod. ..80% 79% 80 80 U. 8. R. S.. 71% 70% 71%

- Grain Briefs CHICAGO, Aug. 2.—Reports coming In'S the Kansas agricultural bureau indicate the wheat acreage to be sown this fall will be reduced 50 per cent. Large elevator# in Central Illinois declare they have received no request* from farmers lor storage facilities for newly harvested wheat. Hot winds have added to the devastation of crops in the dough!-stricken Southwest. Corn badly in need of moisture was burned up in many places. A material reduction in the spring wheat crop in the United States may be expected from reports of heat and rust damage. and expert wired. Threshing of wheat made the usual progress In various States throughout the Southwest. but returns continue disappointing especially in the drought-stricken area where wheat firing is extensive. Unless something develops to create better buying power, grain prices are fa*jjig a | further decline in values and there are no indications of new investment buying. Local Hay Market Loose hay—s2l® 23c: bales. S2O @22' heavy mixed hay, sl4 @22; light mixed hay, $lB @2O Local Wagon Wheat Local mills a e paying S7c for n*w No. 2 red wheat. Cloverseed Market Clover seed was quoted at $7 @lO a bu. In Indianapolis. - . Business News NEW YORK, Aug. 2.—More attention is being directed in the financial district to the increase In the car loadings of merchandise and miscellaneous freight throughout the j country than to the fact that total loadings reached anew high at 1.028,827 ears. '‘Million car weeks " it was pointed out. j have had in the past few weeks no ap- i preciabie effect in sentiment in Wall Street An increase, at this time, even though it be only 7.293 ears when made in the merchandise and miscellaneous freight. Is an In dicatlon that the July slump has passed and deliveries for autumn are starting. It “ Pointed rut. however, that the merchand se loadings of 584 407 sre still considerably below tome of the loadings In May and Jime, when the same classification registered as high as .>93,000 cars in a week. CHICAGO—Over the last several months Armour A Cos. have been making a good ; showing notwithstanding the fact products have been selling around pre war levels j Earnings have been sufficient to cover in- ! terest and preferred dividends and leave a comfortable surplus Gross business it expected to show a substantial increase in the last half of the year which would Indicate ! an improvement in earnli gs over the first half. J“EW lOßK—Contrary to the general belief, steel production by the United Stales, Steel Corporation is greater now than it has ' been recently. Day-to-day production is now I running at from 91 % to 91 % per cent of 1 total capacity as compared to 90% ten days ago. Some of the independent companies however, are running at slightly less than 83 per cent against a fraction over 84 per j cent a week and a half ago. The net result ; is a decline of 86 per cent of total producl live capacity for the Nation as compared to :87 per cent. This declining tendency is expected to continue for a month to come at i the end of which time an upturn is looked | for. NEW YORK—Dewitt Millhauser of Speyer A Cos., has become a member of bondholders' committee representing the first and refunding mortgage 4 per 1 cent bonds of the Minneapolis A St Louis i Railroad Company and the lowa Central | Railway Company. BERLlN—Reisehbank has increased its rediscount rate from 18 to 30 per cent. YOUNGSTOWN President .Foster of General Fireproofing Company says outlook for fall business :s promising Inquiry is well distributed throughout the country, indicating that no local or special ; conditions are responsible for betterment, j Operations are at capacity. \ NEW YORK—As “proofs of prosperity.” the Wall Street Journal points out that American Locomotive has $54,500,000 unfilled business, or capacity orders until early next year. Baldwin Is as well fixed. United States Steel, according to Judge Gary's statement, will operate at prae- | tically full capacity for a protracted period : unless there is a further slump in buving Bethlehem has $80,060,000 in forward business against $07,609,000 on Jan. 1 Studebaker is scheduled to produce 41.000 cars in the third quarter Prospects for other companies are equally good. Briefly, all preeent indications are that earnings will continue at a high rate at least to the close of the current year. NEW YORK—lnsolvencies during July show a further decrease and are the smallest in number for any other month since November, 1920. but the indebtedness involved is somewhat larger than It was in June, which was the smallest in amount for any month In the past two ! years and a half. Mercantile defaults In | July .as compiled from the records of R. 1 G. Dunn A Cos., No. 1. 231 with liabilities of $35,721,188. These figures contrast with 1.358 similar defaults iu June, having an indebtedness of $28,678,276 and 1 763 owing $40,010,313 during July 1922. A number of large failures in manufacturing lines caused a considerably larger volume of indebtedness for the failures reported last month. NEW YORK—Faster and faster go the note printing presses in Germany, where the Relchsbank reaches another notable record in flooding the country with paper marks. Its output is now at the rate of over 1.000,000,000.000 marks a business day. During the past week the bank put out 6.400,000.000.000 marks, the total now being 31.824,820.800.000 marks. CURB TRADING OPENS IN LISTLESS FASHION Changes, However, Are Small and Undertone Is Firm. Bu United Financial NEW YORK, Aug. 2.—The curb market opened rather Uetles t today with changes small and the undertone firm. Most of the leading oils were Irregular. Reading Coaf Rights opened up % at 21%, ad did New York Telephone preferred at 110. Standard of Indiana showed improvement at 50%. up %. Mountain Producers was up Yb and Imperial Oil of Canada, % at 94%. Magnolia gained two to 134, while Ohio was down 1%. Durantf Motors fell off %, whije Goodyear and Gillette appeared at the previous closing figures. I

THE INDIANAPOLIS TIMES

SOME HOGS SHOW QUARTERADVANCE Others Sell About 15 Cents Higher—Top Is $8,40. Hog Prices Day by Day July 250-300 lbs. 200-236 lbs. 150-180 lbs. 27. 7.00® 7.35 7.40® 7.75 7.75® 7.90 28. 7.00® 7.50 7.60® 7.80 7.80® 8.00 30. 7.00® 7.25 7.30® 7.05 7.65® 7.75 31. 7.00® 7.35 7.40® 7.65 7.65® 7.80 7.60® 7.75 7.85® 8.05 8.05® 8.15 2. 7.60® 7.90 B.oo® 8.25 8.26® 8.40 Hog prices soared to a top of $8.40 for choice selected lights in trading at the local stock yards today, this price having been paid by two shippers in early trading. This figure represented an advance of 25 cents over Wednesday's top of $8.15, and other grades advanced from 15 to 25 cents. Lights sold generally from $8.26 to $8.40, mixed hogs from $8 to $8.25 and heavyweights up from $7.50 to SB, though generally from $7.75 to $7.90. The hulk of the day's receipts of !),000, inclusive of 383 holdovers, sold between $8 and $8.35, a local packing Interest having purchased 3,000 hogs at these figures. Sows and pigs reflected the general advance, pigs selling down from $7.75 and sows down from $7. Trading in the cattle market was at generaly steady quotations though a few sales of prime steers were believed to have been made at prices slightly stronger than, on Wednesday. However, the medium stock moved slowly. Receipts 1,000. Trading In the calf alley was at strong quotations, choice veals bringing sl2 and the bulk $11.50 to sl2Receipts 700. ■ Tkfe sheep and lamb market was quotably steady to 50 cents higher, sheep having sold steady at $6 down while some lambs sold a half dollar higher, though the top remained at sl2. Receipts 300. —Ho|f—--150 to 200 lbs ... $ 8.25® 8.40 Medium 8 00® 8.25 Heavy 7.50® 790 Top 840 Figs 7.25® 7 75 Packing sows 6.25® 7.00 C&ttl# 1 Few choice fleers . $lO 00® 11.00 Prime corn-fed siecrs. 1,000 to 1.300 lbs 9 00® 9.50 Good to choice steers. 1.000 to 1.100 lbs 8.50® 960 Good to choice steers, 1,000 to 1,200 lbs 7.50® 800 Good to choice seers, 1 000 to 1.700 lbs 7.50® 800 Common to medium steer#. 800 to 1.000 lbs 7.25® 7.50 —Cows and Heifers— Choice llxht heif-rt 5 8 50® 10 00 Good light heifers 7 00® 875 Medium heifers 6.00® 7 .5 Common heifers 5 00® 890 Fair cows . „ 4.00® 600 Cutters ST? 4 ! Catmers 2..5® .50 —Bull#— Fancy butcher bulls $ 5.00® 000 Good to choice bu icier bulls. 6.00® 5.00 Bologna bulls 3.75® 400 Choiee veals Good veals Medium veals . . 8 00® 9.00 Lightweight veals 7 ->o® 800 Heavyweight veaJs 7.00® 750 Common heavies 0.00 @ 7.00 Top 12 00 —Sheep and Lambs— Culls $ 2 25® 3 25 Good to choice ewes 3 00® 000 Few choice lamb# .. ......... 11 00® 12 00 Heavy lambs 0 00® 10.00 Cull lambs 5 00® i.50

Other Livestock Bu United Financial CHICAGO. Aug. 2—Hogs—Receipts. 22. 000: market, slow to 2uc higher. top. $8 15: bulk. $6.65® 8: heavyweight#. 57 15 @7.90: medium, [email protected]; light. $< 26 @8.15: light lights. $7@790 heavy packing. smooth, so@6 4O; packing sows, rough. $5.76@6; killing pigs [email protected]. Cattle —Receipts. 9.000; market, very active, most killing classes 25c higher; yearlings showing most of the advance: no strictly choice steers here: top. sll 80. highest of season; numerous load# $11.25® 11.75: best long yearlings at sll 15 most long yearlings at $9.95: very uneven, heavy grain led heifers up to $10; bulls steady to weak; bulk bolognas, $4.50@4 75: vealers 25c higher: stockers and feeders about steady bulk desirablp veal calves to packers. sll® 11.60. and up to sl2 to out slders: bulk grain fed beef heifers, s7.7;>@ 9; bulk stockers and feeders. $H.20@050 cheep—Receipts. 12.000. fairly active, bulk lambs generally steady, oull sheep steady; early top ewes, sl2 7.> mostly sl2® 12.25: culls. $8.50@ 9. odd lots fat ewes. $3.50® 7; few yearlings breeding ewes, $9 50®11 KANSAS CITY. Aug 2—Cattle, 2.400: calves. 100: bolter grade beef steers and yearlings scarce, early sales strong to 150 higher: other classes steers fully steady: early top weighty steers, $10.85: better grade she stock and cattle fully steady: inbetween grades slow: bulls weak; bolognas mostly. $4 @4.26. Calve#, strong; early sale# to shippers of light vealers at $0.25; packing top. $9; stockers ami feeders slow Hogs—Receipts. 5.000; slow mostly. 20® 25c higher to shippers, packers holding back bulk desirable. 175 to 250 pound averages at $7 40® 7.00: packing sows steady; mostly. $5.75@016: stock pigs steady; bulk. $0.20@0 50. Sheep—2,ooo; lambs strong lo 25c higher; fdahos. natives. $11.50: practically no sheep offered. EAST BT. LOUIS, Avg. 2—Cattle —Receipts 1 000: market steady: native bef steers, $7.80 @8.73; yearlings and heifers, $8 50® 8 75; cows. [email protected]; canners and cutters. [email protected]; ttalvee, $10.50® 10.76. Hogs—Receipts. 7,000; market higher: heavy, $74007.90; medium, $7.50® 8.10; lights. $7.6008.10: light lights. $0.60 @8.10; packing sows, *[email protected]; pigs. $0.60 @7.50: bulk. $7.86® 8.10. Sheep—Receipts, 1.500; market steady: ewn#. s3@6; canners and cutters, sl@3; wool lambs, $10.25 ® J 2.25. EAST BUFFALO. Aug. 2.—Cattle—Receipts. 750; market slow, steady; shipping steers. $10010.25; butcher grades. $800; cows, $2.25 @0.60. Calves—Receipt#. 475; market slow, steady; oulls to choice. $3.50 @l4. Sheep and lamb# —Receipts, 400; market fairly active, steady; choice lambs, $12@13; culls to choice. $8 @11.50; yearlings, $7.50® 10.50; sheep. [email protected]. Hors —Receipts, 4,800; market active, 15c to 2so higher: yorkers, $8.5008.75; pigs, sß® 8 25; mixed. sß.oo® 8.05; heavies, sß® .8.26; rough. ss@o; stags. S4.SO@S. ' PITTSBURGH. Aug. 2.—Cattle —R<v celpts, light: market slow; choice. $10.25 @1075; good. $9 50010; fair, 87 0 8.25: veal calves, sl3 013.50 Sheep and lamb#, receipts, light: market. steady: prime wethers, $7.3507.50; good. $6.25@675; fair mixed. ss® 6.75; lambs. $7013.50. Hogs—Receipts, 10 dd; market, steady: mediums. $0.7308.85: heavy yorkers, $8.75 08.85; light yorkers. $8.6008.85; pigs, $8: roughs. $0 0 6.50; staga. $3 @3.50. CLEVELAND, Aug. 2. —Hogs—Receipts. 3.000; market. 15 @ 20c higher; yorkers. $8.00; mixed. $8.4008.60: medium, $8.40: pigs. $7.50 07.75: roughs, $5.50: stags. 84. Cattle—Receipts, 600; market, slow, dull: good to choice bulls. unchanged. Sheep and lambs—Receipts. 800: market, steady: top, $12.50. Calves—Receipts. 500; market, slow, weak; top, $12.50013. CINCINNATI. Aug. 2.—Cattle—Receipts. $5.50: market steady to dull; shippers, $8.60 010.25. Calves —Market 50c lower; extras. $lO @l3. Togs—Receipts. 3.700; market active. 25c higher; good or choice packers. $8.26 @8.35. Sheep—Receipts, 3,000; market steady; extras. $506. Lambs —Market steady; fair to good. Raw Sugar Market Bu United Financial NEW YORK. Aug. 2.—The raw sugar market opened higher. September. 4.10 c bid; Deember. 38603.80 c; January, 3.54 c bid;'March, [email protected]. Sugar merchants in Java are trying to form a sugar syndicate to buy distressed lots of sugar with the idea of stabilizing prices. A meeting was held early this week, at which representatives of both Chinese and Japanese firms were present, to discuss means of preventing further declines in sugar. NEW YORK—Despite price reductions in various products made this year. General Electric bookings in July were well ahead of the corresponding month in 1922. The directors meet about the middle of the month for dividend actlcn. The regular quarterly 2 per cent cash and th 4 regular S early stock dividend of 6 per cent payable l special $lO par stock, are expected. There U a slight possibility of an extra cash or stock dividend this year.

| A CORNER —With the — FARMER By R. WEBB SPARKS .. —.Market Editor of The Time# Each day suggestions are heard from various corners of the Nation as to some speedy and altogether feasible means of relieving the financial burden of farmers obliged to sell their wheat at whatever price rinills are offering and each day public rejection of these plans is made. of the latest is that of W. B. Gould, banker of Kewanee, 111., about which H. L. Winters of Thompson & McKinnon, brokers, has this to say: “W. B. Gould, a banker of Kewanee, 111., is urging that farmers and farmers’ organizations ask a special session of Congress to consider his plan of having the Government buy 100,000,000 bushels of wheat which be sold by the Government out of the country, thus, off-hand raising the price to $1.25 a bushel. Mr. Gould seems to Ignore the fact we already depend upon foreign countries to absorb some 250,000,000 bushels of our surplus and that selling or even giving away this extra 300,000,000 bushels would simply decrease their requirements that much, thus leaving our surplus Just where It is. Some one ought to suggest a special session of something to consider Mr. Gould. The wheat situation so far as the export outlook Is concerned remains unchanged with no indication of a hospitable attitude toward American surpluses which are piling up daily in western eqpters. Until this there can hg of materially higher wheat priori, jg LIST ADVANTAGES OF PUBLIC PLANTS (Continued From Page 1)

ties, can obtain capital more cheaply than private companies. He added, however, that publicly owned utilities frequently are not so efficiently operated as those privately owned. Attorneys for the water company objected that the comparison of rates made by Bemis was not fair to the company because he was comparing privately and publicly owned water systems. In discussing a fair rate of return for privately owned water utilities. Bemis said that on the basis of the present cost of obtaining money 7 per cent would be a fair return. The company Is asking for 8 per cent. Cost Would Be Higher In discussing mlnimiyn meter charges. Bemis declared the average family of five would us* 4,500 gallons to 6,0000 gallons a month. On the present rate metered consumer would be required to pay $1.60 a month for hfa water, while he would be using—If he used 6,000 gallons—only $1.20 worth of water, if paid for at the rate of 20 cents a thousand gallons, the rate now paid above the minimum charge. William A Mclnerny. attorney for the water company, said he believed any meter rate fixed by the conynission should be tentative. He said it was uncertain what result will follow general installation of meters. Going back to the subject of municipal ownership. Taylor E. Gronlnger, attorney for the city, pointed out that the water company is paying $239,000 annually for taxes, while the city Is paying $265,000 annuajly for water. Bemis declared great weight in making valuations should attach to original cost. He added, however, that the present value of land should be considered. He criticised the ten year average price method of malting valuations as unfair. Anew angle was presented when Bemis pointed out that high rates on inflated values are unfair to bond and preferred stockholders as compared with holders of common stock, because higher rates increase the return only on common stock. Date for oral arguments was postponed from Sept. 5 to Sept. 27, after considerable discussion by attorneys. The company will present to the commission a great mass of consumers’ data on or before Aug. 15 and studies and conclusions based on that data will be presented to the commission by the company and the city on or before Sept. 15. Marriage Licenses William Barnett, 41. 6050 Baltimore: Julia Anderson. 24, 6058 Baltimore. Jesse Andrews. 18. Avalon apartments: Clara Ludlow. 19. 138 E. Sixteenth. R. F. Norel. 60. 2746 Ashland; Mrs. Anna King, 62. 2746 Ashland. J. H. Relder, 21. 2737 Ashland: Nora Bass, 21. 2737 Ashland. E .1. Combs, 38. 520 E. Fall Creek Blvfl.: Elizabeth Roberson, 21, 2021 N. Talbott. W. M. Boykin, 20, 2832 N. Temple; Lucy Birkley. 36. 2818 N. Temple. F H. Bearswllt. 24 *648 W. Fortieth; Edna Crane. 72. Oaklandon. Ind. Births Girl# James and Lizzie Walker, city hospital. Bpaoh and Bettle Beach. 1853 8. Calvin. Antonio and Angela Georgio, 912 Lexington. Ira and Bertie Orcutt, 912 8. Delaware. Clifford and Dorothy Carmichael, 1229 Broadway Blanchard and Leila Day. 3435 E. Washington. Guy and Mae Bray. Methodist Hospital. Jess and Ruth Bolin, 2237 Bloyd. Boys Sandy and Georgia Taylor. 745 Drae Walter and Barbara Monroe, 1821 Madison. Fred and Margaret Roesmyer, 910 Tacoma. Deaths Alma Templeton, 63, Methodist Hospital, carcinoma. Alice Morton, 72. 1123 Olive, arterio sclerosis. Clara C. Roth, 42. 5112 Broadway, carcinoma. Mary Jones. 83, 615 N. Tacoma, carcinoma. Barbara Trent. 2, 4211 Bun#et, chronic gastro enteritis. Millard F. Crabtrqe. 67, 1740 Goodiet, cerebral hemorrhage. John Campbell, 2 hours. 2823 Kenwood, premature birth. Fannie Smith. 85. Deaconess Hospital, lobar pneumonia. Harriett Miller Spannhurst, 51, FortySixth and Boulevard Place, uremia Mary Frances Smith. 52. 2178 NL Talbot, chronic myocarditis. Charles Henry Benton. 63, 62J2 Coffey, chronic myocarditis. Eleanore Powell, 16, 1745 Northwestern, broncho pneumonia. Automobile Taken Lewis Custy, 17 N. Addison St., to day asked police to #earch for his automobile taken from In front of his home Tuesday.

IE W*H. BLOCK C? Hart Schaffner A Marx Guaranteed Clothes for Men, Young Men and Boys (8 to 18)

Tomorrow, Friday, Our Bargain Day No Refunds, Exchanges, Layaways, C. O. D., Phone or Mail Orders on Bargain Friday Items. In Many Instances Quantities Are Limited. Prices Are Effective While Supplies Last.

Store Closes Saturday at 1 P. M. Do Your Shopping on Friday—ls You Possibly Can

One-Day Sale —Friday Only Another Big Sale APRON FROCKS For Women and Misses A most unusual purchase made it possible for us to offer such handsome, well made, practical apron frocks at this low price. Added to this assortment are dozens of our higher priced garments taken from regular stock. Dozens and dozens of attractive styles to choose from. Styles shown were sketched from stock. 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.

Four 98c Specials SILK BLOUSES —For women and misses. A clearance of all our broken lots of Georgette crepes, poplins, and pongee silks; $1.50 and $2.00 qualities. While qq 75 last PORCH DRESSES —For women and misses. Good quality lawns, lace trimmed, Qfi/ sash ties. While 200 last /OC GIRLS’ LINGERIE DRESSES—7 to 14 year sizes. Voiles and organdies, qo slightly counter tossed. While 50 last, ,%/uC CORSETS—For women and misses. Clearance of broken lots of Bon Ton, Royal Worcester and Gora cossets. Lace front or back lace styles; coutlls and batiste; $1.50 and $2.00 qualities.... */oC

Beddings—Domestics

BEAMED BLEACHED SHEETS Double bed size; $1.25 quality (limit 2 to cub- AO tomer) PILLOWCASES inches; 22c IQ quality ...lOC HEMSTITCHED PILLOWCAUS soft thread bleached muslin; wide hems; Oft 35c quality LLC UNBLEACHED SHEETING —2% yards, wide (limit 3 yards to customer) : 75c >lQquality ‘•UC PILLOW TUBING inches wide; 45c 9Q quality £OC BLEACHED MUSLIN Yard wide; soft finish; free from starch (limit 10 yards to cus- 1 r tomer) UNBLEACHED MUSLIN Yard wide; 12%c A quality tzC UNBLEACHED SHEETINU MUSLIM-—4O Inches wide: 25c | 7 quality lit UNBLEACHED MUSLIN— Yard wide; soft | ft finish; 20c quality.. .I*so BLACK SATEEN High luster; 30c ftft quality LLZ.

Millinery Specials WHITE FELT HATSISI .95 FOR WOMEN AND MISSES. SPECIAL j X Roll brims, pokes, drooping brims. White felt only with colored bands.

Leghorn Sport Hats $2.95 and $3.95 Qualities — $1.89 Colored velvet bands. Sixty in group.

Records —2 for SI.OO You Know You Belong Who’s Sorry Now to Some One Else Yes, We Have No BaRed Head Gal nanas I Love Me Farewell Blues Barney Google Swinging Down the Lane Mellow Moon Waltz Down Hearted Blues

THE BASEMENT STORE ’

REMNANTB CURTAIN SCRIMS ■ —Desirable lengths < dots, plain center) open work borders; 10c to 15c qualities, while supply r lasts, yard DC MOSQUITO NETTING—6B inches wide; white or black — 7Q„ 8-yard bolt, I7C PERCALES Yard wide, figures. checks and stripes; light and dark colors ; 25c 1 r quality lOC MERCERIZED PONGEE— Yard wide; natural color; 35c qual- 25c WHITE OUTING FLANNEL—27 Inches wide; double fleeced; 1 C _ 19c quality UC SILKOLINE COVERED COMFORTS —Large double bed size; sanitary cotton filled; prettv patterns: medium and dark stlkollne; plain border to match (while 24 so Ari last), $4 quality

Rummage Sale of Odd Hats Choice, 49c While 150 last.

WOMEN’S AND MISSES' WOOL SWEATERS —Slip-ons, side ties, jacquettes and sleeveless styles, slightly imperfect. $1.50, $2.00 and $3.00 qualities; <%< while 200 last RUMMAGE SALE —Women’s \ envelope chemise and bloom- J ers, 50c qualities / Choice Children’s rompers, 69c qual- l “y ( OQ/% Women’s brassieres and i 4^j/C bandeaux, 50c and 75c qual- I lties / SPRING WEIGHT COATS—For women and misses of Polret twills, mixtures and polaires; plain and embroidered; suitable for early fall wear; A A $18.50 to $50.00 qualities .pIU.UU

Men’s Furnishings Auto Brand Overalls and Jacket? $2.00 Quality, H I" 1 Each 1 ,()0 Os white back blue suspender or high back style. Jackets, to 44; overalls, sizes 34 to 42. (Limit two garments to each customer.) MEN’S BLUE CHAMBRAY SHIRTS— Sizes 14% to collar attached; one pocket; full cut; SI.OO quality UvC MEN’S JIFFY JUMPERS—Khaki twill cloth, very convenitent for ne auto use; SI.OO quality DDC MEN’S SOCKS —Mercerized combed yarns, reinforced; black, cordovan, white, gray and navy; sizes 9%. to 11%; seconds of 25c 101/ quality IZ /2C MEN’S ATHLETIC UNION SUITS—Of fine pin-checked nainsook, elastic insert back, full cut. sizes 34 to 46; 69c quality (2 for $1.00), pr each ..i ..DDC

Hosiery Specials WOMEN’S HOSE —Fine lisle; seamed backs, reinforced; black, brown and white; 25c quality t (3 pairs < 50c), pair ltrC BOYS’ BUSTER BROWN STOCKINGS —Reinforced toes and heels; black only; sizes 6 to 3%. strictly first quality; 35c quality (3 pairs for 69c), pair LtdC

Candy Specials HIGH-GRADE FROSTED COCOANUT CARAMELS—49c quality, on special, pound A C* t/C FRESH MADE SOUTHERN ORANGE ICES—Special, 1b....£0C ASSORTED FLAVORED SOFT CENTER CHOCOLATES — OQ Special, pound box D*/C

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