Indianapolis Times, Volume 35, Number 76, Indianapolis, Marion County, 9 August 1923 — Page 11

THURSDAY, AUG. 9, 1923

FOREIGN SITUATION ►IS REFLECTED IN TRADEINSTOCKS Market Awaits Outcome of Cabinet Meeting— Rails Firm, The WALL STREET JOURNAL NEW YORK. Aug. 9.—Wall Street’s attention at the opening of the stock market today was focused upon the foreign situation. Considerable discouragement was produced by further details of the stormy session of the Reichstag, In which Chancellor Cuno voiced Germany’s defiance of France. Industrials continued under pressure, which characterized Wednesday’s late dealings. Stocks weak Wednesday were still heavy, but rails showed a relatively better tone. First Hour Greater steadiness characterized the general list after the early selling had been absorbed. But the market showed no very marked tendency to rally, apparently awaiting the outcome of the British cabinet meeting, at which time it is hoped some hint would be dropped regarding Great Britain’s next move in the reparations hmlx-up. Financiers are keeping unRasy eyes on the situation abroad and outcome of the European tangle will beyond doubt soon be reflected in Wall Street’s attitude. Second Hour Prices in the main body of stocks came almost to a standstill in the second hour and the speculative community had to be content with watching the action of a few specials. DuPont jumped practically four points to 117% on reports that General Motors would declare an extra dividend of 20 cents a share. No action of this sort is contemplated now but will yield to current earnings later In the year. An oversold condition was reflected in the reduced volume of trading. Noon Hour If traders concluded from the sudjden drop in Wednesday’s late dealings that the market lacked support they had to change their views before 1 p. m. Persistent pressure failed to extend the decline and prices began tb improve in the noon dealings. The market was in trading area and subject to quick shifts in either direction. Pressure on Texas Gulf Sulphur. which dropped 3 points in the Tnorning, was lifted on assurance that JJie company was earning its dividend by a comfortable margin. Special weakness cropped out among South American oils in the fourth hour. Maracaibo dropped 2% points to 19, while General Asphalt showed an equal loss at 23. Steel common was Steady in face of a decrease of 475.tons shown by the July statement of unfilled orders. Since March, forward cont -acts have fallen off nearly 1,500,000 tons. Steel Corporation bookings are now only 1,660,000 tons above low level reached in the depression of 1921. Twenty active Industrial stocks on Wednesday averaged 88.63. off .32 per jcent; twenty active rails averaged 77.86, off 50 per cent. Local Bank Clearings Local bank clearings Thursday were $3.545.000: bapk debits were 96,244.000. New York Money Market By United Financial NEW YORK. Aug 9.—Time money dull; loans at 5 % per cent, the lenders' rate: renewals at 5% per cent. Commercial paper quiet; prime names 5 per cent, but moves at 5 per cent. Foreign Exchange Bu United Financial NEW YORK, Aug. B.—Foreign exchange closed lower. Sterling, demand. 54.56%. Francs, demand, 5.65 V&c. Lire, demand. 4.20 c. Belgian, demand. 4.24%e. Marks. 4.545.450 to the dollar. Czeeho. demand, 2.93 c. Swiss, demand, 18.28 c. Guilders, demand. 39.40 c. Pesetas, demand. 13.77 c. Sweden, demand. 26.56 c. Norway, demand, '16.18c. Denmark, demand. 18.23 c.

Produce Markets

INDIANAPOLIS. Aug. 9.—Fresh eggs. 23c: packing stock butter, 26c: springs. 1 H to 2 lbs.. 28c; fowls, straight, 21c; fowls, under 4 lbs.. 18c: leghorns, 25 per cent discount: cocks. 10c: young tom Turks, 28c; wyoung hen turks, 25c; dueks, 5 lba. 12c: Bppring ducks, 21e: geese. 10 lbs:, up. 10c: Kquabs. 11 lbs. to doz.. $4.50. Indianapolis 'creameries are paying 37c a lb. for butter fat. CLEVELAND. Aug. 9.—Butter—Extras, in tubs. 46 (it 48c: prints. 48® 49c: firsts. 44® 48c: packing stocks. 30 @ 32c. Eggs— Fresh gathered northern extras. 33c: Ohio firsts. 33*i@35c: western firsts, new cases, 27c. Poultry—Heavy fowls, 25® 26c; light fowls, I8@20c: cocks, 17 <g tSe: broilers. . 35c: ducks, spring. 22c. Potatoes—Virginia •cobblers, $5.50 a barrel; 150-pound. $4.25 @4.50. NEW YORK. Aug. 9.—Flour—Dull but -steady. Pork—Dull; mess, $24 @24.50. Lard-\-Fi rmel 7 Middle West spot, 511.15® 11.25. Sugar—Raw steady: centrifugal. 96 test, 6.15 c: refined steady; cut loaf. 7.90® -Bc. Coffee—Rio No. 7on spot. 11 @lll4 c: Santos, 13® 16c. Tallow—Steady; special to extra. 6% @6Sic: city. 6c. Dressed poultry—Firm; turkeys. 25@42c: chickens. 24 @ 44c; fowls. 14® 30c. ducks. 25c, Long Island. Live poultry—Steady; geese. 16c: ducks. 14 @ 26c; fowls, 19@28c; turkeys. 20c: roosters, 16c; broilers. 26® 33c. (,’bccse Quiet: State whole milk, common to specials. 18@20He: State skims, common to specials, B@l7c. Butter—Firm; receipts. 11.886: creamery extra. 43Vie; special market, 44@44He; State dairy tubs. 35 @ 43c. Eggs—Fmri: receipts, 15.415: nearby whites, fancy, 48® 50c: nearby State whites. 29@48c: fresh firsts to extras. 28@30e; Pacific coast, 28H®46e; western white, 29® 48c: nearby browns, 37 @46c. CHICAGO, Aug. 9.—Butter—Receipts, 7.673: creamery, extra. 42c: standards. 41 He: firsts. 38@39c; seconds, 36@36 Ho. Eggs—Receipts, 9.656: ordinary firsts, 22 @ 22 He: firsts. 24 @ 25c. Cheese—Twins. 21H@22c; Young Americas. 23H@24c, Poultry—Receipts. 3 ears: fowls. 17®24c; ducks. 22c: geese, 16@ 22c; springs. 31c; turkeys. 20c; roosters, 14c; broilers. 26c. Potatoes —Receipts. 150 ears; Kansas and Missouri. SI.BO @2.10; Kansas sacked. $1.70 €1.85: Minnesota sacked. $1.25 @1.50. Raw Sugar Market By Unit fit Financial NEW YORK, Aug. 9.—The raw sugar k Market opened steady. September, 4.41 c f bid: October, 4c bid; November, 4.30 c bid; ‘December, 3.98®3.99c: March. 3.42®3.43c: May, 3.49 @3.50c. A refiner bought 7.000 bags Cuban raw sugar at 4%c cost and "■^freight. Cloverseed Market Cl overseed was quoted at $7 @lO a bu. 4ft Indianapolis, Local Wagon Wheat Local mill* are paying 87c for new No.

New York Stocks Railroads— S At 1:45 Prev. High. Low. p. m. close. Atchison ... 96 95 % 98 95 % B A 0 48% 47% 48% 47% Can Pac„. 145 144% 144% 144% C * N W Ry 05 05 05 CRAP... 20% 20% 20% Gt North pfd 54% 54 54% 58% Lehigh Val.. 60% 60% 60% L & N 88% 88 88% N Y Central. 97% 97% 97% 97% North Pac . . 57 % 55 % 56 % Pere Marq... 41% 40% 41% 41 Reading ... 74 % 73 % 74 % 73 % South Pac . 85% 85 85% 85 St. Paul pfd 26 24% 25 25% Union Pac 127 126% 126% 127 Wabash pfd.. 25% 25 25% 25% Rubbers— Kelly-Spgfld.. 31 31 31% U S Rubber. 38% 38% 38% Equipments— Am Loco ... 73 % 71 % 72 % 71 % Bald Loco. 113% 111% 112% 111% Lima Loco. 61% 61 61% 61% Pullman... 113 113 West Elec... 57% 57 57% 57% % Steel Bethlehem.. 47% 47 47% 47% Crucible 60% 60 60 60% Gulf States.. 70 ... 68% 70 Rep Iron &543 % ... 42 % 43 % U S Steel 87% 86% 87% 87% Motors— Chandler Mo. 48% 47% 48% 48% Gen Motors.. 14% 13% 14% 13% •Studebaker .100% pp% 100% 102% Stewart-W . . 67 % 66 % 67 60 % Timken 36 % ... 36 % 37 % Minings— Tex G & Sul 56% 53% 55 56% Coppers— Am Smelting. 56 55 56 55% Anaconda ... 38 % 38 % 38 % 38 % Kennecott 33% 33 33% 33% Oils— Cal Petrol... 18% 17% 18% 18% Cosden 32 31 % 31 % 31 % Marland O'l.. 29% ... 20% 29% Pan-Ara Pete. 59% 55% 59% 59% Pan-Am P B. 57% 56% 57% 57% Pro and Ref. 31% ... 31 31% Pitre Oil 18 17% 18 17% Std Oil of Cal 49 48% 49 48% Std Oil of NJ 32% 37% 32 32% Sinclair 22 21% 22 21% Texas C 0.... 41 % ... 41 % ... Industrials— Allied Chem. 60% 59% 60% 60% Am Can ...88% 87% 88% 87% Am Woolen 84 83% 84 83% Comp & Tab 73 71 % 72 71 % Cont Can ... 46 % 46 46 % 40 Famous Plyrs 69 % 67 % 69 % 70 % Int Paper... 31 31 30% Int Harv . . . 73% 73% 73% 72% Mont A Ward 19% 18% 19 19% Owen Bottle.. 42 41% Sears-Roebuck 72 % 71 % 72 % 73 U S Ind Al. . 46 45 % 45 % 46 Utilities— Am Tel & Tei 122% 122% 122% Con Gas. . . 60% 60%-> 60% 61 Col Gas 34 33% 34 35% Shipping— Am Int Cr. . 16% 16% 16% 16% Int Mer Mar 19 18% 19 19 Corn Prod.. 120 119 119% 120 Punta Alegre. 45% 45% 45% 48 Tobaccos— Am Tob Cos 144% 144% 140 •Ex. dividend. GRAINSGOHIGHER ON LATE RALLY Wheat Advances in Response to Liverpool Upturn, By United Financial ? CHICAGO, Aug. 9. —A late rally, after a weak and indifferent opening, brought strength and higher prices to grain at the close of the Chicago Board of Trade today. Responding to a sharp advance in Liverpool at the close, wheat ralied iate and the strong undertone resulted in further gains over the noon advances. A statement by a leading eastern grain news agency setting forth that mils of the country will have insufficient supplies from the new crop after seeding requirements are deducted, also had a bullish effect on sentiment. The strength in wheat, high cash premiums and the selling of 200,000 bushels of the cash to an eastern commission house, aided corn on the upturn. Weather and crop news remained favorable. Rains were predicted for the central corn states over night. Movement of old corn from farms to market continued on the increase. Oats advanced with other grains on a market devoid of individuality. Provisions eased off late with hogs and under some realizing by earlier buyers. Chicago Grain Table —Aug. 9 WHEAT— Prev. Open. High. Low Close, close. Sept.. .98 .99% .97% .99% 98% Dec.. 1.01% 1.02% 1.01% 1.02% 1.01% May. 1.06% 1.07% 1.06% 1.07% 1.06% Corn— Sept.. .76% .77 .75% .77 .76% Dee.. .62% .63% .62% .03% .62% May.. .64% .05% .64% .65% .64% OATS — Sept.. 35% .35% .35% .35% .35% Dee. .37% 37% 37% 37% .37% May.. .4040% .39% .40% .40 LARD— Sept 10.72 10.77 10.65 10.05 10.72 RIBS— Sept.. 8.15 8.15 8.10 8.10 8.15 RYE— Sept.. .63% .64% .63% 04% .64 Dee. .66% .07% 66% .67% .67 CHICAGO, Aug. 9.—Car lot receipts: Wheat, 448; corn. 158; oats, 113; rye. 8: barley. 28. CHICAGO. Aug. 28.—Primary receipts; Wheat. 2.580.000, against 2,439,000: corn. 705.000. against 956.000; oats. 727.000, against 825,000. Shipments: Wheat. 915.000. against 2.453,000: corn. 326,000. against 485.000; oats, 725.000, against 517.000.

Grain Briefs

CHICAGO, Aug. 9.—A1l grain exchanges in the country will be closed tomorrow in commemoration ol tho late President Harding. Believing that corn prices are high enough, traders look for a weakening In the cash prices within a short time. Rains in the greater part of the principal corn araa the last week were of great benefit to the' crop, the Government weekly crop report declared. Rust, heat and blight have cut down the Manitoba wheat crop 50 per cent in the iast montn. The late spring wheat crop in Minnesota and the Dakotas has been severely damaged by continued hot, dry weather. Traders declared that were it not for the light speculative demand, wheat prices would take on substantial advances. LO V BUBBLE BU RST Unsympathetic Parents Thwart. “Lochinvar” and his “Lady” Miss Frances Burdette Cardinal,ls, daughter of Tony Cardinal, 438 N. Noble St., and Ernest Adkins, 19, of 6516 Ashland Ave., are not Mr. and Mrs. Adkins toady because Chicago police stopped their elopement. Tony Cardinal, father of Frances, learned she had sent her trunk to Chicago and graced the couple thereby. The couple came' home today with Tony Cardinal and Adkins’ brother, Albert. In the Cotton Market By Vnited Financial NF.W YORK, Augr. —Cotton market opened lower, October. 118.05. off 30; December. 22.90. off 44; January, 22.70, off

HOG PIES TAKE MODERATE SLUMP Top for Lights Reduced to $8,25 —Cattle Stronger, Hog Price* Day by Day Aug. 250-300 lbs. 200-225 lbs. 160-180 lbs. 3. 7.60® 8.00 B.lo® 8.30 8.35® 8.45 4. 7.25® 7.60 7.65® 7.80 B.oo® 8.15 6 .7.35® 7.75 7.75® 8.10 B.lo® 8.25 7. 7.40® 7.90 B.oo® 8.25 8.30® 8.50 8. 7.25® 7.75 7.80® 8.20 8.26® 8.40 9. 7.25® 7.60 7.65® 8.10 B.lo® 8.25 Probabjy due to influence of other markets, prices of hcgs at the local livestock exchange took a moderate slump today., The market was 10c to 15c lower. Good heavies sold from $7.25 to $7.60. Choice hogs sold from $8.25 down to SB.IO. Local conditions did not seem to influence the market to any appreciable extent. The bulk of sales ran the gamut from $7.75 to $8.15, as compared with Wednesday’s price spread of $7.25 to $8.40. The market was active, with shippers buying a considerable number of mixed hogs. Prices on sows hovered aroui%l $6.75. Pigs sold from $7.60 down. Receipts were 11,500, with 2,686 holdovers. In the cattle market buying was active. The market was steady to strong. Steels were quoted from $11.60 down. Heifers ranged from $6 to $10.60. A few choice specimens brought prices a little over the average, and tome sales were below. Receipts, 800. Calves were strong to 50c higher. Top price went to sl2, while bulk of sales was sll to $11.50. Receipts were 500. Sheep and lamb receipts were 600. The market was steady to 25c higher. Top price for sheep was $6; the lamb top, $11.50. —Hogfl—--160 to 200 lbs $ B.lo® 8.25 Medium 7,80® 7.65 Heavy 7.26® 7.00 Top 8.40 Pigs 7.00® 750 Packing bow* 6.00® 8.40 —Cattle— Few choice steers $10.00@11,50 Prime corn-fed steer*. 1,000 to 1,300 lbs 9.00® 9.50 Good to choice steers. 1,000 to 1,100 lbs B.{>o@ 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 7.60® 8.00 Common to medium steers, 800 to 1.000 lbs 7.25® 7.50 —Cows and Heifers— Choice light heifers 8 8.60® 10.50 Good light heifers 7.00® 876 Medium heifers 6.00® 7.26 Common heifers 5.00® 6.00 Fair cows 4.00® 5 00 Cutters 2.75® 3.25 Canners 2.25® 2.50 —Bulls— Fancy butcher bulls $ S.QO® 6.00 Good to choice butcher bulls. 6.60® 550 Bologna bulls 3*76® 4.50 Choice veals 511.00® 12.00 Good veals 9.00 4110.00 Medium veals B.oo® 9.00 Lightweight veais 7.50® 8.00 Heavyweight veals 7.00® 7.60 Common heavies 6.00® 7.00 Top 12.00 —Sheep and Lamb*— Cujls 9 2.26® 3.28 Goad to choice ewes 3.00® 0.00 Few choice lambs 10.00 @11.50 Heavy lambs 9.00® 10.00 Cult lambs 6 00® 7.50 Other Livestock lly United Financial CHICAGO. Aug. 9.—Hog*—Receipts. 34. 000; maekrt, slow steady, top. $.05: bulk $6.60 @(L9O; heavyweight. s7® 7.65: mdieum. f715®8 light. 56.904*8: light lights. $6.70® 7 70; heavy packing, smooth, -•'• SO® 6.25: packing sows, rough. $5.50® 5.80: killing pigs, $0.2607.25. Cattle —Receipts. 12,000: market fairly active, better grades beef steers, yearlings, tat cows and heifers steers. 2oc higher; other grades steady; top matured steers, $11.45: numerous loads. $11.75® 12.25: best long yearlings. $12.10: yearlings, sl2; part load heifers $10.65. bulk veulers. canner and cutters around steady: Stockers and feeders 810® 10.25: bulk bologna hulls. [email protected]: canners, $2.4002.60; bulk cutters, $2.75®3.26; bulk vealers to packers, sl2 ©12.50; outside paying up to sl3: stockers and feeders. $5.70@7; few of value to sell above $7.75. Sheep—Receipts, 13,000: market, active: bulk lambs steady to 15c higher: feeders strong to 10c higher: eulla and aged stock generally steady, bulk good and choice western lambs. $12.60® 12.75; top. $12.85; hest natives. $11.50@ 12.26: cull* $8 75® 9.50: best western lambs. $8.50® 8.76; lightweight ewes. [email protected]; wethers $4 ® 4.25. CLEVELAND. Aug. 9.—Hog*—Receipts. 3.000: market steady, yorkers, $8.75; mixed. 98.50®8.05: medium. 58.25; pigs. $7.76; roughs. $5.50; stags. 94 Cattle—Receipts, 400; market alow: good to choice bulls. 95 @6: good to choice steers. s9® 10 60; good to choice heifers. 8"®8; good to choice cows. ss@B: fair to good cows. s4® 5: common cows, 82 @3: milkers. $40@76. Sheep and lambs—Receipts, 400: market steady; top. $12.50. Calves—Receipts. 500; market steady: top, $13.50. CINCINNATI. Aug. 9.-—Cattle—Receipts, 500: market, steady to dull; shippers. $8.50 @10.25. Calves—Market steady to 50c higher, extras. $lO @11,50. Hog*—Receipts. 4.200: market, weak good or cbolee packers. $8.55. Sheep—Receipts. 7,000;' market, steady: extras $5 @6 Lambs— Market, slow steady; fair to rood. $12.50 @l3. EAST BUFFALO. Aug. 0.-aCitle—Re-ceipts, 500: market Uow, steady: shipping steers, slo® 11.50: butcher grade*. $8 @9; cows, $2.00@6 Calves—Receipts. 325; market active, 50c higher: culls to choice, $4 @l3; yearlings 50a lower. Sheep and lambs —Receipts, 400: market active, steady; choice lambs, sl2® 12.50: culls to choice, sß® 11.50, yearlings, s7@lo; sheep. s3® 8 60. Hogs—Receipts, 4,000; market active. 10c to 26c higher: yorkera, $8.60® 8.85; pigs, $8.25 @8.50; mixed, $8.76; heavies. $8®8.60; rough. $600.25; stags, $4.50® 5. PITTSBURGH, Aug. 9—Cattle—Receipts light, market steady; choice, slo® 10.75: good. [email protected]; fair. $6.75@8: veal calves. sl2® 12.50. Sheep and lambs—Receipts light; market steady: prime withers. [email protected]; good, [email protected]; fair mixed, $5 @5.75; lambs, $7 @l3. Hogs—Receipts, 12 double-decks; market steady; prime heavy. $8 [email protected]; mediums. $8.90@9: heavy Yorkers. $8.90® 9; light Yorkers. [email protected]; pigs. [email protected]: roughs. so® 6.50: stags, $3.50@4. EAST ST. LOUIS. Aug. 9.—Cattle—Receipts, 2.500: native beef steers, $11.45: yearlings and heifers, [email protected]; cows. $4 @5.50: canners and cutters, $2 @3.25; calves, $9.50. Hogs—Receipt* 11,000; market lower; heavy. [email protected]; medium, $7.6508: lights. [email protected]; light light*. $0.7508.10; packing sow*. $5.8500.25: pigs. [email protected]: bulk. $7.85®8. Sheep —Receipts, 1,000: market higher; ewes. $3 @6: canners and cutters, sl@3; wool lambs. $10.25 010.50.

BRITAIN PONDERS REPLIfTOFRANCE Ruhr Invasion May be Put Up to League of Nations, By United Prets LONDON, Aug. 9.—The British cabinet meets today to consider the replies this Government shoqld make to France and Belgium regarding their communications on the proposed British reparations note to Germany. It is reported the possibility of referring to the League of Nations the question of invasion of tfte Ruhr is being discussed, although It seems un-

THE INDIANAPOLIS TIMES

When Lincoln Went Home in 1865

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CHICAGOANS—ALL WHO WEREN’T STILL AWAY WTTH THE NORTHERN TROOPS —TURNED OUT BY THE THOUSANDS TO PAY THEIR LAST RESPECTS TO THE GREAT EMANCIPATOR. HERE IS THE CASKET BEING REMOVED FROM THE FUNERAL TRAIN TO THE CATAFALQUE BETWEEN THE LINES OF MOURNERS IN THE BACKGROUND IS THE CITY'S ARCH OF MOURNING.

EHPT~ > ’ . 1 ' ~ rm I ■*?'" ''' t „ -xL?- ■■. - x ' •> * / -"< /Seal ' - 1 1 ’ - —FROM ORIGINAI, IN POSSESSION OF CHICAGO HISTORICAL SOCIETY.

THIS IS THE FUNERAL COACH THAT BORE LINCOLN’S BODY FROM WASHINGTON TO SPRINGFIELD, ILL. THE ORIGINAL OF THIS PHOTOGRAPH WAS SNAPPED IN CHICAGO AS THE FUNERAL PARTY HALTED THERE BEFORE STARTING UPON THE LAST LAP OF THE SAD JOURNEY.

CURB MARKET EMPTY WITH SHADING PRICES Standard of Indiana Inactive Around Fifty-one. By United Financial NEW YORK, Aug:. S—The curb market was an empty affair in earjy forenoon dealing's today and what price changes appeared were in the general directions of shading down from thy previous close. In the oils a number of leading Issues bad failed to make an appearance up to 11 o'clock. Cities Service dropped 1% points to 133 and Standard of Indiana, for the first time In days, was comparatively Inactive around 51. Imperial of Canada was off 1 and Vacuum up %. Elsewhere there were fractional losses The industrials were almost wholly neglected Durant was off at 41. Glen Alden appeared at 67 >4 and Mesabi Iron at 6*4. There waa a sale In Celluloid Company preferred at 107% and some dealings in the tobaccos. Business News NEW YORK, Aug. 9.—National Automoile Chamber of Commerce estimates July production of motor vehicles at 318.000. i decline of slightly more than 10 per cent from the June total, but a gain of 29 per cent over July. 1922. Production for the twelve months ending July 31 was 3.525,000. NEW YORK—WaII Street and Its observers *re waiting anxiously for promised disclosures which Carle Whitney, attorney for E. M. Fuller and William F. McGee, says will be forthcoming in the near future. Whitney says the revelations "of a startling nature" are so serious that as a matter of governmental policy, he refuse*- ot make public their content until the course of examination against the two men makes It necessary. For aver a year the two men, members of the defunct rm of E M Fuller & Cos., have remained mum. but at last, convinced that the "big men" whom they were shielding had abandoned them, they made a confession which is uow being revived by United States Assistant tAttorney General. LONDON—J. P. Morgan is leaving London for Scotland the end of the week, and according to present plans, will go to France in October. NEW YORK—Bankers in tilts city are of the opinion fliat the banks of the Nation will have no difficulty In financing the movement of a $1,000,000,000 farm crop this year. The banks have heavy cash reserves and the money rale is reasonably low. The only possible chance for a money stringency might possibly eomo from an unexpected heavy period of business expansion which is not regarded as likely. NEW YORK—Production of ingots in July by companies which in 1922 made more than 96 per cent of the country's total was 3,352,474 gross tons compared with 3,674.567 tons in June, according to report* to the American Iron and Steel Institute. On the basis of these figures, the country’s estimated total output in July was 3 516,966 tons against June estimated total of 3.748,890 tons. Total production of ingots for July, 1922, was calculated at 2.952,806 tons. NEW YORK—WaII Street bankers saw little truth In out-of-town reports that a $500,000,000 oil merger is in the making, this companies rumored to be considering consolidation can expect little assistance in the financial district, it was said. Business In the opinion of financiers, does not warrant such a merger now. NEW YORK—Adolph Zukor, presiiVnt of Famous Players Lasky Corporation, says rumors that the company is contemplating new financing aro entirely unture. Bank loans are at their high point for hte year since this is the middle of the production season when outlay is the greatest and income from theaters and film rentals is lowest owing to summer dullness. Obligations, however, are no larger than a year ago. Meeting bn the common dividend will be held Aug. 13. A director etatee that in his opinion It will be paid. Dressed Beef Prices Wholesale celling prices on dressed beef. Swift A C 0..: Ribs—No. 2,20 e; No. 8, 16c. Loins—No. 2. 30c; No. 3,10 c. Rounds —No. 2,22 e; No. 3,18 c. Chucks—No. 3, 4c. Local Hay Market Loose hay—s2l @23; bales, s3o® 32; h * >v ? miyed hay. $1*022: light mixed

WARREN UAROING 1865—1923 (Continued From Pago 1) ! closet, for there one faces God alone.. Many time* the outspoken prayer is only for the people’s ears. I can understand how those prophets of old in their anxieties, problem.*, perturbations and perplexities found courage and strength when they gave their hearts to -the great Omnipotent in prayer. How many things there are in the Scriptures that we in our own worldiness never discover!" The Bible, upon which he laid his hand that day. was the same used by Washington, and by his own request the supplication, "So help me God,” was made the conclusion of the presidential oath. And those who were present at that moment still remember the significant emphasis in his voice and the keen flash in his eyes as he uttered those words. • • * A r ’ _ “ BORN orator. President Harding found public speaking natUral. At 4 he could recite fairly long poems—and he was proud of it. Quite often when the child was in the kilt and pantaloon stage, according to one of the many tender recollections of his aged father, he used to beg his mother for a chance to demonstrate his linguistic ability. "Mother,” he would inquire eagerly when company gathered around the Ladies' Sewing Circle dropped in for their regular Tuesday afternoon meeting, "Can I say my piece now?” • • * EONG before he grew big enough to haul gravel for the D., T. & I. Railroad and perform other heavy labor, the future President earned money by painting barns and similar tasks. One summer in his middle teens, he literally painted Morrow County red, so many.barn jobs did he get. Young Harding and a chum of about the same age, shared in this venture. One day, so the story goes, the got a job from an old farmer who was notoriously tight on his 'pursestrings. They offered to paint his barn for $25, flat rate, or $2 a day, time rate. After much haggling, he finally chose the flat rate. They did the job in four days, much to the chagrin of the old tightwad, but paint brushes never flew faster. While he was running for the presidency, a story of Senator Harding's life that contained this episode was submitted’to him for his approval. "By George, I had almost forgotten that," he laughed. "Maybe I ought to cut this out, as it might hurt mg with the farmer vote, but I guess I’ll let it go." • • * Mi' ' ARION, OHIO, the town that the President put on t£e map. got Its first glimpse of Harding astride a mule and his memorable entry Into the little city was one of his favorite stories of later years. "My father moved to Marlon from a farm near Caledonia the winter before I came,” he used to relate. "When he moved to Marlon, he left behind a mule, because the mule was so well known In the vicinity that it could not be sold at a profit, and so valuable that he could not afford to sacrifice it. “I started out early one afternoon, but this mule had only one gait. You coyldn’t put him In second or third and you couldn’t step on the gas or anything. The shades were falling

miles out of Marion. The wan looking dark to me and I stopped to ask an old fellow, who was smoking a pipe, how far it was to Marion. Without cracking a smile, he replied: 'Well, if you are going to ride that mule, it is a further distance than you will ever get.’ " • • • SHE PROUDEST moment of'his life, the President once confessed, was not the day that he stood before the massed throng in front of the capitol with one hand resting on the Bible and the other raised ti. heaven and took the solemn oath aa ihe head the mightiest nation among men. It was back In Marlon, long years before, when he whs the leader of the town band. A great event in Ohio in those days was the annual band contest at Findlay, to which competitors came from miles around. The youthful bandmaster from Marion had stretched his credit to the limit to buy new uniforms for his flock so they might present a resplendent appearance. and he was gambling on winning the prize money for relnbursement. • The rival bands blared away, each getting its turn before the judges, but after a few had followed them most of the Marion bandsmen lost hope and quietly departed, not wishing to publicly suffer the humiliation of defeat. At last, none remained but young Harding, who blew a wicked alto horn, and the clarinet player and baas drum- ' mer. Imagine his joy when the j Judges called Harding forward and ! announced he had won a prlxe of S2OO, ! which was more than enough to pay for the new uniforms. In the “grand review" of the prize winners that followed, iHardlng and his clarinetist and bass drummer marched proudly past the Judges' stand, rending the air with what would have been “Marching Through Georgia" had there been musicians enough to make the melody recognizable. 4 The ovation that he got when he returned to Marion, he said In the White House one winter afternoon, was “the proudest moment of my life.” • • • H r "~~| OW does a man feel when he’s just been elected -President? When the eager newspaper men corralled him at Marion that night in November, 1919, he met them with a broad smile. “Well, boys,” he laughed, “I feel just as If I had gone in with a pair of eights and come out with a full house.” This poker story spread and It was not long In reaching the ears of Mrs. Harding and the pillars of the church in which he was a member. Just what happened nobody knows, but there were no more poker yarns. • • • . LITTLE while later, Preaidentelect Harding, still a Senator, j came back to Washington. He and Mrs. Harding drove through from Marlon in their auto. &nd carried their lunch in a shoe-fcox that she had packed before leaving home, the last thing she did before tilling the ice man to stop the ice and the milkman not to leave any more milk until further notice. * Senator John Sharp Williams, the venerable Missjssipptan and a man who had never made any effort to conceal his fondnee for a delicious mint julep or a sparkling cocktail, was one of the first to greet him. “Well, Senator Harding.” Williams said, "I see that fate has It that you are to leave us and go to the other 1

j thing I want to ask: When you get ! to be President, I want you to appoint me minister to Portugal ” "Portugal?” the President-elect mused. "But may I ask why you want to go to such a place?” “That’s simple enough,” laughed Senator Williams. "I'Ve figured out | that Portugal will be the last country \ in the "world to go dry.” * • • OTORING was his hobby, golf was his diversion, but dogs i—J were his love. He was fond of dogs—had always been bo —and behind "Laddie Boy,” whom he accepted as a puppy when he entered the White House, was a long line of illustrious canine predecessors who had cheered his lonely moments and softened his sorrow over the fact that he had no children. There waa Doc, the faithful companion of his childhood, who lived to a respectable old age and was tenderly buried In the back yard. Later In the canine cycle came Hub. whose tragic death produced this editorial in the Marion Star of March 11. 1913; * "Edgewood Hub in the register, a mark of his breeding, but to us Just Hub, a little Boston terrier, whose sentient eye mirrored the fidelity and devotion of a loyal heart. The veterinary says he was poisoned—his mute suffering suggested it. One is reluctant to believe that a human being who claims man’s estate could be so hateful a coward as to ruthlessly torture and kilj a trusting victim, made defenseless by his confidence in the human master, but there are such. One honest look from Hub’s trusting eyes was worth a hundred lyllng greetings from such inhuman beings, though they wore the habiliments of men." Soon after his inauguration, l President Harding read in a newspaper that the dog of a Russian immigrant waa about to lie shot under a peculiar State law. Immediately he made an appeal to the Governor of that State, with the result that the dog’s life was saved through ’’pardon.” • • • M. DAUGHERTY was Preeident Harding’s Damon and Harding was Daugherty's Pythias. Between them, the closest of friendship had existed for years and It was Daugherty’s keen political strategy that won the nomination for Harding at the Chicago convention after the delegates had tied up In a hopeless deadlock over the foremost aspirant. Throughout history, some of the most trivial of Incidents have been followed by the most fruitful of consequenoee, and so It was with the meeting of Harding and Daugherty. Had It not been for a rain one day just before the State election in Ohio In 1898, they might never have become acquainted—but the rain did It. Harding was then running for the Ohio State Senate. He was campaigning at Rlohwood and was at the schoolhouse pump, washing the mud from the rain-soaked roads off his shoes when Daugherty came up. There began the strange friendship that nearly a quarter of a century later sent Harding to the White House and put Daugherty in the At-torney-General’s chair. Trained Pig Entertains Kiddles In the mission camp for sick children, at Fairview Settlement, today marveled over the antics of a trained pig. George R. Woods entertained the children with his pig Wednesday afternoon. Mrs. Horace MltcheU will give a ■cpgram at the 1

INQUEST HELD IN SHOOTING OF MAN BY k OFFICER Seth Ward Out on Bond After Firing Fatal Shot in Raid at Anderson, The coroner's inquest into the death of Elisha Northcutt, 55, fatally shot by Seth Ward, Federal prohibition agent, in a raid on Northcutt's place at Anderson, Wednesday, was held today at Anderson. Ward and R. O, Minton, legal director of the Federal Prohibition Department, went to Anderson for the inquest. According to Bert C. Morgan, Federal prohibition director for Indiana, Ward's action was justified. "It was simply a case of Seth shooting Northcutt or Northcutt shooting Policeman Baker and Ward,” Morgan said today after his return from Anderson, where he investigated the shooting. “As soon as Baker and Ward entered the place, Northcutt clinched with Baiter and drew his gun. Ward called to Northcutt three times to' drop the gun, and finally shot wnen he saw It was a matter of saving Baker's life and possibly his own.” Ward was in possession of affidavits stating that Northcutt had threatened to kill any officer of the law who entered his place. Northcutt was a former captain of police of Anderson. One of the shots passed through Northcutt’s head, one through his hand and side and another wounded Baker slightly in the right hand. According to stories told by Fred Pettigrew and Lex Bricker, who were in Northcutfs place when the trouble started and who said they watched the fight from the doorway. Warn opened fire while Baker and Northcutt were scuffling, after Northcutt had insisted that no search be made without a search warrant. Pettigrew said Ward answered that he didn’t need a search warrant. Ward was released on $2,000 bond. “I did not want to shoot, but had to,” said Ward just before he left for Anderson. "Northcutt was a big, powerful man. He grappled with Baker and had him covered with a gun stuck against his side. I beat Northcutt over the head with my gun, but it had no more effect than if I had been beating the gun against a wall. I called to him to drop his gun and he refused. I shot only when I thought that it was necessary to save Baker's life.”

AUTOS WITHHELD FROM TAX LISTS Probably 100,000 automobiles in Indiana have been withheld from taxai tion lists this year, officials of the State board of tax commissioners have i estimated. The board has instructed county ; commissioners to> have the sounty | assessors procure lists of automobiles ' licensed with the secretary of State and in this way the board hopes to make a complete check. It was said Marion County is short in the taxation lists, probably 5,000 or 8,000 automobiles. Walter G. Bridges, special representative for the boarji, said practically every county in the central part of the State, with the possible exception of Randolph, is from 1,000 to 2,000 short. SATISFACTORY BUSINESS CONDITION IS REPORTED This week's issue of R. G. Dun and Company’s Weekly Trade Review will have this to say of trade conditions in ; the city of Indianapolis: Manufacturing continues active, except for the seasonable shutting down in automobfle lines. Wholesale and retail trade is holding__up well for this season, although the disposition continues not to make commitments except for a short-tim& period. New building operations are slowing up, but the amount of work on hand will Justify a continuation of activity through the season. Farmer are complaining, and are feeling the effect of low prices for their products. SAVES LIVES OF TWO lAd of 16 Rescues Smaller Boys From River. By Timet Special ANDERSON. Ind., Aug. 9.—Owen Moreland, 18, is today being praised for saving the lives of two boys from drowning in White River near here. James Phillips, 8, who was In swimming, sank when he stepped Into a hole beyond his depth. Richard Davis, 11, started out to rescue the smaller boy, but failed. Both boys had gone down twice when Moreland rescued them. Marriage Licenses .Terse 1,. Hail. 23. 2625 E. Michigan; Hattie Ralston. 21. 1616 Astor St. E. W. Hauser, 23, 795 W. Drive Woodruff Place: Maxine Dollman, 10, 1126 Park. Warren Griswold, 22. 2423 N. Dearborn; Nellie Etehison, 22. Indianapolis. C. 8. Fiehterman. 22, 1405 Rembrandt: Hester Schier, 21. 743 E. McCarty. J. R. Shaw, 30, Boggstown, Ind.; Edith Burnette, 18. 1184 Avondale. Robert Thurman. 26. 2223 Lexington: Alive Barnett, 26, R B, Box 65. O. M Parker, 34, 1187 Bellefontatne: Eva Bixler. 26, 1611 N. Rural F. A. Hock, 48, 1021 E. Market: Ida Fiaoh, 42, 014 E. Georgia. E. R. Moors, 24. 845 N. Jefferson: Viola Littleton. 21. 324 N. Lincoln. A. H. Anderson, 59, 822 W. TwentySixth: Bettie Perrick, 51, 822 W. TwentySixth. J.’H. Schuster. 29, 846 Prospect: Sylvia Darby. 26. 846 Prospect. William Kirsch. 60, St. Louts: Susan Longenwalter, 56. Lebanon, HI. H. L. Frye, 23. 47 S. Sherman Dr.; Norma Reiman, 22, 102 S. Bradley. A. P. Ruhlman. 32. 1626 S. Talbott: Clara Miller. 14. Mars Hill. William Haeberle. 26. R. D. Box 10O; Rose Huser. 21. 951 Eastern. Maurioe Drant. 36, 854 N. East: Pearl Stage. 40, 867 N. Capitol. Ed Lewis, 66. 556 Fletcher: Harriet Trout. 65. 476 S. Pennsylvania. Fred Miller, 36. Central Insane Hospital: Georgia Myerly, 39, Insane Hospital. H. F. Hill. 51. 042 N Illinois; Nellie

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