Indianapolis Times, Volume 35, Number 150, Indianapolis, Marion County, 5 November 1923 — Page 11

MONDAY, NOV. 5, 1923

STREET DEVOTES MUCH ATTENTION TO MARKET TURN Outside Considerations Swept Aside in Day’s First Transactions, The WALL STREET JOURNAL NEW YORK, Nov. 5. —Washington’s pro fX)sal to abandon plans for the reparations conference unless Premier Poincare of France modifies his attitude had no effect on stock prices at the start of the new week, as Wall Street had Us attention concentrated upon the question of the market's ability to continue last week’s sudden reversal of trend and technical considerations were the governing influence in today’s early dealings. General Electric maintained Its rapid advance, reaching anew high on the movement, but price changes among other Industrial leaders were rreigularly divided. First Hour Stocks had to absorb considerable selling In the first hour, but offerings In the general list were taken at scam recessions from the best levels on the movement, while Dupont and a few other issues continued to move ahead Judging from the action of the industrial list, a business depression so freely discussed while stocks were declining is not lively to materialize this winter. There are inquiries in the market for close to 100,000 freight cars. American Can had contracted for the delivery of more tin plate than at any time in the history of the company and chain stores and mail order houses are doing a record business. Second Hour Speculative sentiment was encouraged by the action of the market in the late morning. Not only did the general list continue to hold well and special stocks like General Electric to move Into higher ground, but interest was revived In a number of the backward groups. The oils were prominent in this class. Issues like Texas Company. Marland and Cosden which were heavy In the early stages of las' week's recovery scored substantial rebounds from their recent lows. Twenty active industrial stocks on Saturday averaged 89.83. up .72 per cent. Twenty active rails averaged 79.93, off .02 per cent. Noon Hour

In the Industrial list, new hlphs on the movement were reached by Baldwin. Studebaker, Dupont and most of the other trading favorites during the noon trading. International Harvester sold at 76H. up nearly 10 points from the law of last week. _ The advance has not alone been due to f a turn for the better In business. The stock was sold heavily by a bear pool which experienced difficulty in buying It back. A constructive feature was the strength of Standard Oils on the 39 LJttiAL NOTH KS NOTICE OF PUBLIC SALE OF SWAMP LANDS. BELONGING TO THE STATE OF INDIANA. IN STARKE AND LA PORTE COUNTIES. INDIANA. ~~ Notice is hereby given that a petition has been duly filed with the auditor of State signed by more than five freeholder! and voters of Starke and La Porte Counties, asking that the lands belonging to tha State of Indiana lying along the Kankakee River In township 33 north of range 3 west, be offered for sale as provided by the acts of March 9 1889. and the amendment of section 4 thereof, approved by the Governor of the State. March 2, 1923. Acting upon aid petition the auditor of State will offer for sale the lands in said township and range at the State auditor's office in the city of Indiananolis on the 21st day of% November. 1923. at 2 o'clock p m., upon conditions as by law required. The lands have been surveyed. platted and appraised as required by law. Lot o in Sec. 10—La Porte County (S H of Sec. E of meander and W of river) 60 acres. $300.00: Lot 6 in Sec. 10—La Porte County (S % N 1 W ol R 4 E o! meander line) 81.31 acres. $406.35; Lot 7 in Sec. 10—La Porte County (9 % N H E of meander A W of River) 92.23 acres. 5P22.30: Lot 8- tn Sec 10—La Porte CounU IS W li E of meander line) 68.07 acres. $680.70: S A E ol thread of stream of Kankakee River in Sec 10—Starke County, 83.28 acres. $426 40; Lot 1 In Sec. 21—La Porte County (N 1* NE % W of B> 19.93 acres. $99.63 Lot 2 in Sec. 21— I.a Porte County <E % NW % 3of M A W of River 60 42 acres $1.02 10; Lot 3 in Sec. 21—La Porte County < W % EW % S cl meander i TO ,9 acres 5353 95: Lot 4 in See ° I—La Porte County IW 1 -i S\V *, W of River) 60.27 acres. $301.35; Lot 3 in See. 31—Starke County (S *j 9 % E of River A W of M) 53 92 acres $55.92: Lot 4 in Sec. 21—Starke County < S hi S % E of R & W Os M l 86.80 acres. SB6 80; Lot 5 In Sec. 21 —Starke County rS % N % E of River A Nos 311 89.T4 ac-es. $89.74: Lot 6 In Sec. 21—Starke County (N % NE % E of River) 56.28 acres. $56 28: Lot 2 In See. 15—La Porte County (E % NW % N of R) 6.85 acres. $6 83: Lot 3 in See. 15 La Porte County (W % NW % W of R A E of M) described as Lot 1 In Tuesburg Ditch. 25.87 acres. $25 67: Lot 1 In Sec. 15 —Starke County (E % NE >4) 60 acres. SBO 00 Lot 2 in Sec. 15—Starke County fW % NE >4' 76.91 acres. $76.91 Lot 3 in Sec. 15—Starke County (E % NW % 9 of River) 66.49 acres $66 49: Lot 4 in Set 15 —Starke County (W 54 NW >* B >r River) 31.37 acres. $31.37: SE 14 Sec. 15— Rtarke County 160 ;i<Tes. $160.00: Lot 5 tn Sec 20—La p orte County iW % 9 of M) 75 90 acres $1,897.50; SW '4 Sec. 15— Starke County 160 acres. $160.00: Lot 6 in Sec 20—La Porte IE % W % Sos M) 08 78 acres. $1,935.20: Lot r tn Sec. 20— La Porte County <W % ME % 8 of M) 85.60 acres. $336.00: Lot 8 in Sec. 20 —La Porte County <E V. NE 1* Sos M) 57 acres. 81719.00 SE % Sec. 20—La Porte Cos. 158.00 acres. $1,530 0C: S A E of M in Sec. 19—La Porte County 46 90 acres. sl.407 00: Lot 5 in Sec 30—La Port® County <8 H SW H sos M A Nos R) 24.65 acres 8123.25: Lot 8 in Sec. 30-—La Porte County (N % S H E of M A 5V of R) 33.16 acres. $165.80: Lot 7 In Sec. 30—La Porte County (S 54 N 54 E of M A W of R) 60.25 acres. 5301 25: Lot 8 In Sec. 30—La Porte Cn nty (N H NE 54 E of M) 42.27 acres, $211.35: that part of Sec 30— Starke County 5 A E of Kankakee River A N A W of M or S % SE *4 W of M. 62.28 acre* SB2 20: Lot 5 in Sec. 29—Starke County (W H W 54 Bof R A Nos M) 67 54 acres. $6? 54: Lot 6 in Sec. 29 Starke County (E ’4 W % Nos M & Sos R) 53 acres. $53 00: Lot 7 in See. 29 Starke County (W ’4 NW >4 Nos M) 58 15 Ri 19.35 acres, $19.36 Lot 8 In Sec. 29 — Starke County f N 54 NE 54 Nos M) 36.59 acres $36.59: W 54 NE >4 Sec 29 La Porte County (N AW of R, also described as Lot 2) 41.53 acres. $41.53: E *4 KW 54 See. 29—La Porte County (Nos R algo deeci-ibed as Lot 3) 26.32 acres. 626 82: W 54 NW 54 Sec 29—La Porte County (Nos R. also described aa Lot 4) 41.15 acres, $41.15: Lot 5 tn See. 22 starke County 1 W % NW 54 of M) 58 15 acres SSB 15; W 54 NW 14 Sec. 28—Starke County ( N A W of Mi 37.9 acres. $37 90. T 54 NW >4 Sec. 28—Starkh County (Nos X) 6.50 acres $5 50: W 54 NE 54 Sec. 31— ftarke County (Nos M) 25.13 acres. $26.13: E H NW % Sec. 31—Starke County (Nos M) 2.68 acres. $22.88; W 54 NW 54 Sec. 31—Starke County IS ol Ml 18.35 acres 318 25 No bids wtl ibe accepted for legs than the appraised value as shown on tne registrar book and the appraisers report on said lands. The appraisement has been approved by the commission composed of the Governor of the State auditor of State and the treasurer of State which commission may also accept or reject any or all bids. ROBERT BRACKEN. Auditor of State. Dated Indianapolis Ind.. Oct. 22. 1923. NOTICE OF APPOINTMENT Notice is hereby given, that the undersigned has duly qualified as executor of sat ate of Harvey L. Mumper, deceased, late ot Marlon County. Indiana. Said estate is •opposed to be solvent EDWARD MUMPER. Ns *I7OB.

New York Stocks (By Thomson A McKinnon) —Nov. 5

Railroads— 12:45 Peer. High. Low. p. m. close. Atchison..... 97 54 97 97 54 97 B A 0 58 54 67% 58 54 58 54 C A 0 73 54 72% 7354 72 54 C A N W Ry. 61 60% 61 60 54 Erie Ist pfd. 24*4 23*4 24 54 24 54 Gt North pfd 57 54 55 54 57 54 65 54 Mo Pacific pfd 25 54 25 2554 26 N Y Central. 10154 100 54 101 101 Nor Pacific.. 64% 62% 63% 53 P-Marquett*.. 41% ... 41 54 4154 Pennsylvania. 4154 41H 4154 41 Reading 76% 76 7654 76 54 Sou Pacific.. 87 54 66% 87 54 87 St. Paul pfd. 25 54 25 25% 25 54 TJ Pacific 130 54 129% 130 54 129% Wabash pfd.. 3354 82 54 33 54 32% Rubbers— Kelly-Spr. ... 25 54 —. 25 25 C S Rubber. 35 34% 35 54 Equipments— Am Locomo. .72 ... 71 % 72 Baldwin L0c.123% 122% 122% 123 54 Gen Electric. 185% 180% 184 182 Lima L0c0... 65% ... 65 54 64% Pullman 117 54 ... 117 116% West Eeiectrtc 69% 69 54 59% 69 54 Steel*— Bethlehem... 49% 43% 49 49% Crucible 62 54 62% 62 54 63 V, Gulf States.. 78 77% 73 78 54 R. Iron A3. 46% 45% 45% 46 U. S Steel.. 93 5s 02% 02% 03 54 Motors— Am. B. Mag. 48 47 54 47%' 27% Chandler M.. 27% .... 27 48 >4 Gen. Motors. 14% 145i 14% 14*4 Max. M (A) 42% ..... 42 42% Studebaker . JOl% 100% 101% 101% Stewart-W... 83% 82 % 82% 82% Timken .... 38 54 .... 38 54 36 Oils— Cal Petrol... 19% 1954 19% 19% Ccsden 24 % .... 23 % 24 % Marland Oil.. 21% 80% 21 20% P.-Am. Pete.. 68 54 5754 68 68%

SOME MARKETS CLOSE While the New York Stock Exchange and other markets In the East will be closed tomorrow because of election day. Western markets, particularly the Chicago Board of Trade, will be in sesson. Regular reports, with the exceptions noted above, will be carried in the financial columns of The Times.

exchange as well as In the outside market. Fourth Hour Stocks gained fresh strength in the early’ afternoon when call money eased to 4% per cent after renewing at 6 per cent. No concern was felt over the high renewal rate, brokers arguing that it was a temporary condition. The high rate in New York with a tendency of funds in this direction would probably attract a plethora of money to Wall Street. The rails had D. L. & W. as a leader, this issue moving up to 118% against last week's low of 110, reflecting speculative gossip regarding an extra dividend. Local Bank Clearings Indianapolis bank clearings Monday were $3,405,000. Bank debits were $6,576,000. Foreign Exchange By T'vitrd Financial NKW YORK. Nov. s—Foreign exchange Ifighcr: Sterling, demand. $4 46% cab) s. $4 46%. Francs, demand. 5 78c: cables. •5.78 %c. Lire, demand. 4.46 kc: cables. 4.47 c. Belgian, demand. 4 96c: cables, 4.9*3 He. Marks. 1.250 000.000 000 to the dollar Czecho. demand. 2.92%c; cables. 2 D3c. Swiss, demand. 17 76c; cables, 17 78c. Guild'-rs. demand 38.68 c; cables, 38 70c. Pesetas, demand. 13.28 c; cables. 13.30 c. Sweden, demand, 26.29 c: cables. 78.33 c. Norway demand. 14 84c; cables. 14.88 c. Denmark, demand. 16.90 c; cables 17.03 c. CURB TURNS HEAVY IN LATE MORNING TRADING Vacuum, Standard of Indiana and Other Oils Drag Behind. By United Financial NEW, YORK. Nov. s.—The Curb market was quiet and generally firmer in today’s dealings. Vacuum, Standard of Indiana and Mutual Oil gained ground while stocks like Lehigh Valley Coal Sates, Reading Coal Rights and Park & Tilford fell behind. Glen Alden Coal, which duplicated the 1923 high of 77 on Saturday repeated -at that figure. Removed from the trading, the Hartmann Corporation, authorized shares new, capital stock no par value. The market turned heavy later in the morning with the following quotations: Park & Tilford, 33%, off 1%; Cities Service, 129, off 1; S. O. Ind., 66, up 54; Imperial Oil of Canada, 96, off %; magnolia Pete. 130; Galena Signal, 6054, up %; 6 O. N. Y., 41%. off 54-

Produce Markets

INDIANAPOLIS. Nov. (.—Frcgh egsrs. !oa off 48c, parklnr atock butter. 28' 1 ; springe, under 2 lbs. 28c: epringa, over 2 Ibe.. 17c: fowls. 4% lbs. op. 20c; fowls under 4% lbs.. 17c: Leghorn poultry, 26 per cent discount; cocks. 10c. young tom turkeys. J 2 lbs. up. 3 Jc; young hen turkeys 8 lbs. up. 30c: old tom turkeys. 35c; ducks. 4 lbs. up, 18o: geese. 10 lbs. up. loc youuj g'-fe, 0 lbs. up. 15c; squabs. 11 lbs. to the dos., $5: young guineas. 1 % lbs. up. doz., $7: old guineas, doz.. $5: rabbits drawn. No. 1 doz., $3. Indianapolis creameries are paying 48c a lb. for butterfat. CHICAGO Noy. 6.—Butter—Receipts. 0 491; creamery extra, sle: standards, 48%c: firsts, 44®40c; seconds 42®43c. Ejga—Receipt# 3.407; ordinary firsts, 32® 40o: firsts. 43 ® 50c. Cheese—Twins. 24 % @34%c; Young Americas. 25%c. Poultry —Receipts. 22 cars; fowls. 13®18%c; ducks. 20c: geese. 21c; springs. 18c: turkeys 35c: roosters. 3% c. Potatoes—Receipts, 365 cars; Wisconsin round whites. 90c® $1.20; Minnesota and North Dakota U. S. .o. 1. 90c® 1.10; Red River Ohioi 78e@ $1; early Ohios, 86® 90c; Idaho Russets, $1 86 @2. CLEVELAND, Not. 6. —Butter —Extra In tubs. 65® 57c; prints. 50® 57c; firsts. 53® 55c. Eggs—Freeh gathered northern extras. 65c; Ohio firsts. 49c; western firsts, uew case*. 47c. Poultry—Heavy fowls. 23 ®2sc; medium fowls. 10®22c: cocks. 15® 10c; springers. 23c: ducks. 24® 25c. Potatoes—Michigan round whites. 51 8.5® 2.05 per 150 lbs.; early Ohios. $2.50®2.05 per 150 pounds. NEW YORK, Nov. s.—Flour—Dull and unchanged. Pork—Steady. Mess—s2s® 20. Lard —Firmer: mid-wi-st spot. $13.80® 13.90 Sugar—Raw. quiet. 0.91 c: refined, quiet; granulated. B.Bo® 8.70 c. Coffee— Rfo spot. ll@ll%c: Santos No 4, 14% ® 15%c Tallow—Dull; special to extra. 7% 8. Hay—Firm. No. 1. sl4 50: No. 3. $11.50® 12.50. Dressed poultry—Turkey, quiet; chickens 26@60c: fowls. 18®42c ducka. Long Island 25® 28c. Live poultry —Quiet; geese, 23®25e: ducks, 14@28e: fowls. 17@?9e; turkeys. 40®45c; rosters. 15c: chickens. 22®25c: broilers. 23®30c. Cheese—Steady state whole milk, common to special. 22®27%c; state skims, choice to specials, 10® 19c: lower grades. 5® loc. Butter—Steady—Receipts. 3,208; creamery extra. 50 %c: special market, 50® 51%c: state daily tubs. 40®50c. Eggs—Firm: receipts. 4 524; nearby whites, fancy. 82® 84c; nearby state white. 45® 84c: fresh firsts to extras. 40® 64c Pacific coast. 42® 76c: western whites. s®B4c. nearby browns. 65® 75c. Butter—Danish. 46® 43c: Argentine. 41 % @44c. Dressed Beef Prices Wholesale selling prices on dressed beef. Swift & Cos.: Ribs—No. 2. 30c: No. 3 170. Loins—No. 2. 25c: No. 3,18 c. Rounds— No. 2. 20c; No. 3.15 c. Chucks—No 2, 13e: No. 3. • 10c. mates—No 2,8 c; No. 3.7 c. Cloverseed Market Locsd dealers are paying $7.60 QlO a bushel tar ric^artsad.

High. Low. P. M, Close. at 12:45 Prev. P-A Pete (B) 56% 5554 65% 66% Pro. A Ref.. .18% 18 18 Pure Oil 1054 16% 1654 1654 8. 011 ot Cal 54 % 63% 54 % 63% S. Oil of N. J. 82 % 32 % 32 % 82 % Sinclair 18 5s 17% 18 IS U Texas Cos 37% 35% 36% 43% Minings— Dome -Mines. 86 .... 86 86 Int. Nickel... 10% 10% 10% Coppers— Am. Smelt... 58 63 54 55% 66 Anaconda ... 35% .... 85% 80% Kemiecott .. 32 % .... 82 % 32 % Industrials— Allied Chem.. C 4% 64 e 454 Amer Can ..99 54 98 54 98 54 98% Amer Wool. 74% 73 54 73% 74 Coca-Cola ... 73 54 72 % 72 % 72 Cont Can... 60 % 4!) % 50 54 61 Tam Players. 69% 66% 59 54 68 Int Harvester 76 ... 76 75 Mav Stores.. 84 ... 83% 84 Mont Ward. . 23% ... 23% 23% Nat Enamel. 40 39% 4040 54 Sears-Roe . . 81 % ... 81 % 81 % U S Ind Alco 64% 54 64 54 64% Utilities — Am T and T. 12354 ... 123 123% Con Gas... 63% ... 6254 03% 00l Gas 32% ... 32% 33 Shipping— Am Int Corp 20 % 19 54 20 20 % Atl Gulf ... 16% 16 54 10% 16% Int M M pfd 33% 32% 33% 34 Foods— Am Sugar., 54% 54% 64% 65% Corn Prod .129% 128% 128% 120 Cu Cn Su pfd 45% 44 54 44 54 45 54 Cu-Am Sug. 29% 29 29 29% Punta Alegre 51 % ... 61 % 61 % Tobaeros— Am Sumatra 1054 ... 1054 19 A Tob Cos 8.147 ... 147 143 Tob Prod B. 65% 65 65 66

WHEAT AND CORN LOWER AT START Oats Alone Shows Independent Strength—Selling Encountered. By United Financial CHICAGO, Nov. s.—Wheat , and com prices were generally lower, while oats showed a slight upturn at the opening on the Chicago Board of Trade today. Wheat showed evidence of liquidation at the opening. This was due In part to the stand taken by Eugene Mey’er, Jr., and Frank Mondell, member of the War Finance Commission, who just completed an Investigation into the plight of the farmer. In their report submitted to President Coolidge they recommended that the farmer work out his own destiny without governmental financial aid; suggested diversified farming and coop eratlve marketing as helpful factors, and declared stiff opposition was not met on the proposal to increase tariff to keep Canadian wheat off American markets, Government price fixing and Government purchase of urp!us stocks. Corn was weak, in sympathy with wheat. Selling developed with a forecast of clear and warmer weather, which will aid In conditioning and shipping of the new crop. Oats displayed strength, tut weakened later due to heavier receipts than expected and some liquidation by longs. Trade In provisions was light and confined to lard on an unchanged basis. Chicago Grain Table At 11.46 —Nov. 8 WHEAT— Trey. Open. Hirh. Low. Close. close. Dec... 1.07 1.07% 106% 1.06% 1.07% 1.07% 1.07% Mav.. 1.12 1.12 111*4 1.u% 112% 1.11% July.. 1.07% 1.07% 1.07 107% 107% CORN— Doc... .74% 74% 74% .74% .74 54 .73 % .74 % May.. .73 .73% .72% .73% .7.'!% .72 % -73 % July.. .73% .74 .73% .73% .73% 73 % OATS— Deo.. .42 .42 41% 42 .41% .41% May.. .44% 44% .43% .44 54 -44% July.. .43% .43% .43% .43% .48% CHICAGO. Nov. 6.—Primary receipts: Wheat. 2.212,000 against 2,504.000; oorn. 708.000 against 1,388.000; oats, 1,180,000 against 1,234.000. Shipments: Wheat, 368.000 against 265.000. cum. 446.000 against ' 803.000; oat#, 490.000 against 657.000. CHICAGO. Nov s—Car lot receipts: Wheat. 37; corn, 148; oats. 83;rye, 8. Local Wagon Wheat Locrl mills and elevatora are paying $1 for No. 2 red wheat. Local Hay Market Loose hay. $lB St 21 bale*. $17000: light mixed hay. sl7Si 20.

Business News

NEW YORK. Nov. 6. —The market value : Os twenty Industrial stocks used In Dow, Jones A Co.'s averages, exclusive of a de- ! cllne In Texas Company, advanced $103.- ! 324.130 in the aggregate In the last four trading days of last week. Texas Company was the only one of twenty Industrial stocks use din the Dow Jones averages which did not advance between Wednesday’s opening and the close on Saturuay. This was due to the special consideration of possibility of dividend reduction or financing. However, other Industrials in the averages, as welt as practically the entire list, were lifted substantially in value following Steel Corporation’s special earning statement for the third quarter and the extra dividend. Steel common a> result of the advance, appreciated 534.945.757 in value in the fourday period, the largest gain of any of the twenty stocks. General EVetric wns second In size, with an appreciation of $20,690.651.' Americar Telephone, seldom a speculative favorite gained % of a point, retarded undoubtedly by the new $100,000,000 debenture Issue Trading tn the fourday period was the heaviest In about eight months with Aggregate transactions of 4.205.700 shares on Wednesday. Thursday and Friday and the two-hour sessions Saturday. CHICAGO —The general outlook in the West is regarded as still far from unsatisfac--1 tory by leading bankers and business men. although it i“ a indite din some lines there has been a slowing down of activity. This slowing down process has not gone to any important extent, and the farming situation Is regarded as much more favorable than some ol the reports would indicate. TOLEDO —Willys-Overland Company Is continuing a production of 700 ears daily, a'though plans to increase this number are being held tn abeyance. The lnaguration of a night force to Increase the output Is also being hindered from cause. October output was about 18.000 cars. CHICAGO—TotaI cars loaded on Chicago. Milwaukee A St. Paul and received from connections during October were 198,421. against 178.946 In October. 1922. This 's said to be the largest number in a single month during the road's existence. ST. LOUlS—President Baldwin of the Missourt Pacific ral’road says record-breaking traffic Is continuing on that road without shortage of cars or equipment. Loadings on line and received from connections broke ;t.M records tn October with a total of 138,938. against 130,810 the previous high mark in August. JfEW YORK—"Last month we did the ’ vrrsst business tn o’ir history,” said Gen. Robert Wood, vice president of Montgomery Ward ft Cos., accompanied by Wendell Endlcott. Bailing on the Majestic to study business conditions. “We estimate our sales this year will exceed last year’s by $40.000.000 We will do about $135,000,000 gross business. We expect present volume to oontlnuo throughout this and next roar.”

THE IN L)IAJS AHOLJH TIMES

PRICES FOR HOGS 1 GENERALLYSTEADY Some Lights Regarded 10 Cts. Higher, Heavies Weaker, Oct. 260-300 lbs. 200-225 Ibc. 150-180 lbs. 30. '7.60® 7.63 7.20® 7.45 7.00® 7.15 31. 7.250 7.90 7.45® 7.70 7.25® 7.40 Nov. 1 7.60® 775 7.30® 7.50 7.00® 7.25 2. 7.50® 7.65 7,20® 7.45 7.00® 7.15 3. 7.60® 7.65 7.80® 7.60 7.10® 7.25 6. 7.50® 7.70 7.30® 7.50 7.15® 7.25 Despite the fact that some light hogs might have sold 5 to 10 cents higher and some heavies aa much as a nickel lower, prices for hogs were generally steady In trading at the local livestock market today. Any Increase in prices on the light end was offset by some weakness on the hwxvy end, though the price range remained unchanged except for the top, which was a nickel higher than Saturday. One load of heavies sold at $7.70, but $7.60 was the prevailing price, while mixed sold from $7.30 to $7.60 and fights from S7.IS to $7.25, though generally at the last figure. The bulk of sales was made between $7.25 and $7.40, Indicating that the light end had shown an advance of generally a dime. Sows and pigs were steady, each selling down from $6.60. A broad demand w&a in evidence but the buying lacked urgency and no disposition to boost prices was manifested In the trading fraternity. Light receipts of 700 were probably responsible for the steady tone shown by the cattle market as there were few prime cattle In the yards and buyers were obliged to look to the receipts for their supplies. Such trading as was done was at generally steady prices. A fight demand matched fight re celpts and prices for calves remained unchanged with choice veals commanding a top of $11.60 and the bulk sll to $11.60. Receipts 300. Dullness characterized trading in the sheep and lamb market, due to exceptionally fight receipts of 50. Lambs sold down from $11.60 and sheep down from $6. —lloga—i Choice lights * 2 Light mixed 7.20 W Z ?? Medium mixed ....#••••••• 7.J04J 7.50 Heavyweight# 7 60® 7.70 Bulk ol aaiea 7*?® ‘ 40 Tor> 7.10 [>s .........aa.- 0.00 @ 0.50 Lucking eowa 0.000 0.60 —Cattle— F*-w choice steers slo.oo® 11.50 Prime corn-fed ateera, 1,000 to 1.800 lb 1 * 9.00 3 9.60 Good to choice eteexs. 1.000 to 1.100 lbs BAO ® 0.00 Good to choice ateera, 1,000 to 1 200 lb# 7AO ® 8.00 Good to choice steers, 1,000 to 1,700 !ba 6.00 3 7.60 Common to medium eteers. 800 to l.opo lb# 3.00® 7.00 —Cowl and Heifers— Choice to light belfera f 9 00® 10 00 Good heavyweight# 7 25® 9.00 Medium heifer# 6 00® 7 25 ! Common cow# 6.00® 600 ' Fair cowe 6.00 0 7 60 Cutters 2.76® 3.25 , C aimers 2.26® 3.75 —Bulls— I Fancy butcher bulls 5 00® 6,00 Good to choice butcher bulla. 6.00® 5.60 > Bologna bull# 4.60 0 6.00 —Calve*— I Choice veala 8)1 00© 11.50 Good veala [email protected] Medium veals 7 00 @IO.OO Lightweight veals 7.80® 800 i Common veals 7.00 0 7.60 Common heavies 6.00® 7.00 Top 1160 —Sheep and laimbe—Extra "hoice lambs $10.00311.50 ! Heavy lambs [email protected] Cull lambs 3.00® 7.50 Good to choice ewes 4.00® 7.00 Cull# 2.00 0 3.00

Other Livestock By United Financial CHICAGO, Nov. s.—Hog% Receipts, 50. 000; market steady: top. $7.60; bUik, $0 70 ®7.30; heavyweight. $0 90®7.60; medium. $7 07.60; light. $0.65® 7.36; light fights. so®7; heavy packing, smooth. $6 40® 0 70: packing sows, rough. $d.26®040; killing pigs. $5.26 0 0.36. Cattle—Receipts. 28,000: market uneven; choice fed steers and yearling# comparatively scarce; steady to strong: medium to good grades predominating. undertone weak to low er % most fed steer# and year ings eilgtbls to sell at $9 ® 10.60; yearling.#, $10.75. aome considerably higher; lightweight fed yearlings going to email killer# actively at $8 76 010. according to quality; plain weighty steers not moving western run. 6.000, Includes liberal proportion she stock: bulls steady to weak; rao-t bologna#, $4.40; fight grassy kinds off to $3 60 and below; vcaler# weak to 25c lower, mostly $9.50 to packers, Stockers and feeders active, strong to 25c higher: numerous jfealrs native and western stocker steer# to feeder dealers, $5 60 07. Sheep— Receipts, 24,000; market slow; fat lamb? 26®40c off; euil* steady, sheep scare®; no early sales: looks w-ak to 25c off feeding lambs steady to strong; good and choice fat i lambs mostly $12.60® 12.76; some lieltT" IdgUer; cull natives. s!i.6o®lo; practically no early sa'es feeding lamb#. EAST BUFFALO, Nor. 6.—Cattle— Receipts. 516: market fairly active; shipping Steers. $9.50012.50: butcher grades. sß® 9 60; heifers, $5.8507.60; cows $1.60® 0.25; bulls. $2.7605.75; feeders, $4.60® 6 50; milch cows and springers. $36 0128. Calves—Receipts, 2,000; market active, steady; culls to oholoo, s3® 12. Sheep and lambs—Receipts. 16.000; market, ail grade# 50c lower; lambs active; sheep slow; choice lambs, $12012.75; culls to choice. s7® 11.50; yearlings, $7 011; sheep. $3 08. Hogs—Receipts. 21.000: market slow; pigs 26e higher; other grades steady, 10c lower; yorkerw, $0.76 0 7.60; pigs, $0.5000.85; mixed. $7.65® 7.75; heavies, $7.7608; roughs, ss®o; stags, $3.6004.50. EAST ST. LOUIS. Nov 6.—Cattle—Receipt#, 1.000; market, few priced beef steers steady, native beef steers. $6.60@0; yearlings and heifers. $10.25 up; cows, $3.75® 4 75: dinners and cutters. $3.25 03.25; calves. $lO stockcrs and feeders, s'4.so® 5.75. Hogs—Receipts. 17,000; market, steady to strong; heavy. $7.10 0 7.40; medium, $7.200 7 40: lights. $0 40 07.30: fight fights. $007.16; packing sows, $6.15 0 0.50: pigs, $5.900 0 00; bulk. $707.30 Sheep—Receipts. 1,000: market, alow, steady ewes $3 6006 25; dinners and cutters. [email protected]; wool lamba $10.50 012.75, PITTSBURG, Nov. s.—Cattle—Receipts, 00 loads market steady; choice. $9 09.60; good. $8.2608 06; fair, $007.16; veal calves. $lB 018. Sheep and lambs—Receipts, 20 loads; market steady; prime wethers, $7.7507.90, good, $707.50; fair mixed. $5.50 0 0.60; lambs. $9 013. Hogs —Receipts, 80 loads; market lower; prime heavy, $7 65 07.70; mediums, $7 45 @7 60; heavy Yorkers. $7.45 0 7.60: light Yorkers, [email protected]. Tigs—Receipts, $5.7500.25; roughs. $5.7506.25 ;stags. s3@4. CINCINNATI, Nov. 6.—Cattle—Receipts. 4,000; market heavy, steers dull, bids I sharply lower; good butchers coys steady; I shippers. $7 09. Calves—Market 50c lower; extras, $lO @11.60. Hogs—Receipts, 7.000: market steady to 10c higher; good or choice packers, $7.300 7.40. Sheep—Receipts. 226; market steady; extras, s4® 6 50, Lambs—Market steady; fair to good, $12,500 ia. Tank Wagon Prices (Gasoline prices quoted do not Include State tax of 2e a gallon.) GASOLINE—Energee. 18c a gallon: Purol. 14.2c,*‘ Red Crown, 14.2 c; Target. 14.2 e; Stiver Flash, 18c Standolind aviation. 21.08 c. KEROSENE—Cr.vstalino 10.7 c; Moore Light, 15c: Perfection, 10.75 c. NAPHTHA —Lior. Poyer cleaners. 25.1 c; V. M. Sc P„ 22.1 c; Standolind cleaners, "2.1 c.

Ollicekßifoilurv . , Filkte Calniß'!# ll* r S. Penn. St. Moin

Your Dollar Uncle Sam Tells Who Gets It,

MACARONI / 67 J\ ff Cea-Ta .x''u \ // kw _ rrha \\ | |J vi jeJi Cen-fts \ Prof H" 6c JJ \ Overhead // TaixeSjj^ •orraOHr x# n ecouch, mis, 0.0. rTT“I FAILURE of a potato crop I I some years back was one of L£Z_J the chief factors that brought macaroni as a food to the people of the United States. Many housewives used macaroni as a substitute for potatoes and its popularity aa a-food has continued. Like many other staple articles of food the greatest factor in the cost of macaroni Is the material. According to government date, 67 cents out of each one dollar the macaroni manufacturer receives goes for materials. Eleven cents goes for labor, while twice as much. 22 cents, goes to pay profit, overhead and taxes of the manufacturer. A 10 per cent Increase to macaroni factory workers would add one and one-tenth cents to each one dollar of the selling price while a 10 per cent increase in the cost of materials would add 6.7 cents. NEXT—SiIk Stockings.

$100,000,000 (Total Ittue) American Telephone and Telegraph Company Twenty-Year Sinking Fund S'h% Gold Debenture Bonds Dated November 1, 1923 Due November l t 1943 Issued under Indenture dated November 1, 1933, Bankers Trust Company, New York , Trustee Interest payable May 1 and November 1 Neto York or in Boston Redeemable in whole or in part at the option of the Company at 110% and accrued interest on ssny interest date on or prior to May 1, 1941; thereafter at 100 and accrued interest. i A Sinking Fund of $1 fiOO,OOO annually is to be set aside Tn semi-annual installments beginning May 1, 1921, such Fund to be used tn purchasing Debentures of this issue if obtainable at not exceeding f.OH’ffe and accrued interest; otherwise, to be used for capital expenditures. Coupon Debentures in denominations of SI.OOO. S3OO and SIOO, reenterable as to principal. Registered Debentures tn denominations of SI,OOO, $5,000 and SIO,OOO. Coupon Debentures and registered Debentures, and the several denominations, interchangeable. H. B. Thayer, Esq., President of the American Telephone and Telegraph Company, has ttemmarized at follows his Utter to us stating the particulars in regard to this issue: purpose The proceeds of these Debentures are to be used to retire $40,000,000 Ftve~Year 6% Notes, due op issue February 1, 1914, and to provide the Bell Telephone System with funds for additions and betterments and for other capital expenditures. This is the first issue of long term obligations made by the American Telephone and Telegraph Company since 1916, and. in effect, replaces $90,000,000 of shortterm 6% notes [including $50M00,000 of Three-Year Notes paid last year), thereby effecting a saving of $450,000 annually in interest charges. bqvitt Since the end of 1920, the relation between funded debt and capital stock of the American Telephone and Telegraph Company has changed materially owing to the large amount of capital stock issued. On December 31. 1920, the Company’s funded debt aggregated $317,429,000, or 42% of its total capital liabilities, while the capital stock aggregated $442,825.400. After giving effect to the issuance of these Debentures and to the retirement of $40,000,000 6% Notes due February 1, 1924, the funded debt will aggregate approximately $230,000,000, or lest than 28% of total capital liabilities, with capital stock (including installments) outstanding in the amount of over $747.000,000. Thus funded debt, even after giving effect to this financing, will have decreased by $37,000,000, whereas capital stock has increased by over $300,000,000. ■AaiiiKM The net earnings of the American Telephone and Telegraph Company available for interest, its interest charges and net income during the past ten years have been as follows:

During this ten-year period, the Company's net earnings averaged more than times interest charges, and in each one of these years they have been more than 3 1 /2 times interest charges. For the year 1923, it is estimated that net earnings available for interest will be about $95,000,000, or nearly seven times the annual interest charges on the Company's funded debt to be outstanding after these Debentures have been issued and tha $40,000,000 Notes due February 1, 1924. have been retired. DiviußND Dividends on the capital stock of the Company and of its predecessor have been paid at the rata RECORD of at least $7.50 per share in each of the past 41 years. For approximately 15 years, ended ■ in 1921, the rate was $8 per share annually, and since that year the dividend rate has been $9 per share annually. raovißions In the Indenture under which these Debentures are to be issued, the Company will covenant that it will not mortgage any of its telephone lines or plant unless it shall secure these Debentures by stocks or bonds of its telephone operating companies, and that it will nut pledge (with certain exceptions and limitations with respect to its outstanding Collateral Trust Bonds' any stocks or bonds of its telephone operating companies unless it shall either secure these Debentures as above stated, or ratably with any other obligations secured by such pledge. In either case, the Company shall keep so pledged stocks or bonds of a value which shall be equal at all times to of the principal of the debt secured thereby. Any such collateral to to be pledged shall be similar in character to that required for the security of the Company s 30- 1 ear Collateral Trust 5% Bonds of 1946 The provisions for valuation and substitution of stocks and bonds so pledged shall be similar to the corresponding provisions in respect of the collateral securing the above-mentioned 5% Bonds of 1946. assets The total assets of the American Telephone and Telegraph Company are carried on its books at more than $1,123,000,090. Stocks and bonds of, and advances to. associated and affiliated companies, at valuations which are distinctly conservative, amount to more than $950,000.000, less than $262,000,000 of which are pledged. The Company's long distance telephone plant, including nearly 1,200,000 miles ©y toll wire, telephone instruments and real estate have a book east of over SIO4,OOQMOO, and are free from Lien. THE ABOVE DEBENTURES ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO ISSUE AS PLANNED AND APPROVAL 09 LEGALITY BY COUNSEL, AT 98Vx7<> AND INTEREST, { TO YIELD 5%%, Subscription books vnll be opened at t\e office of J. P. Morgan & Cck, at fO o'clock A.M., Monday, November 5, 1923. The right is reserved to reject any and all applications , and also, m any case, to award a smaller amount than applied for. The amount due on allotments ivill be payable at the office of J. P. Morgan <& Cos., in New York funds, on November 15, 1923, against delivery of J. P. Morgan <St Cos. Interim Receipts, exchangeable for definitive Debentures when received from the Company. The American Telephone and Telegraph Company Five-Year 6% Notes, due February 1, 1924, with and couponaattachesd f will b€ accepted in pcymtnt of allotments on the date rpeci at 100Jtd4Q6 and accrued interest, equivalent to 1%%. interest bam from swdt date to February X* JAM* J- P. MORGAN & CtX pj, ,nmnv n m tOVB & CO * KIDDER, f RABODY & CO. FIRST NATIONAL BANK, New York ' ’ NATIONAL CITY COMPANY BANKERS TRUST COMPANY, New York GUARANTY COMPANY OF NEW YORK HARRIS TRUST & SAVINGS BANK LEE > HIGGINSON & CO. New York, November 5, 1923. t

LIEBER SPEAKS AT TERRE HAUTE Says State Should Control Natural Resources. By Times Special TERRE HAUTE, Ind., Nov. B. Richard Lleber of Indianapolis, director of the State conservation department, addressed the Department Club of this city this afternoon. Hla subject was “State Porks.” "Conservation,” he said, “does not mean non-use of natural resources. Rather it means the judicious utllizaton in order that all mankind profit.” He declared opposition to special interests controlling the water power rights, the fish and game streams, lakes, fields and woods, for he contended these natural resources are a common legacy and the State should own and control them for the use of a universal citizenship. ELECTIONS SCHEDULED Hoosler Towns Are Ready to Name Officers Tomorrow will be election day In numerous Indiana towns, and In some places active contests are in progress. In most cases candidates are not divided along party fines, but are divided Into groups according to some local issue. In some places women are on town tickets. Polls will be open in three Marlon County towns, 'Woodruff Place, Ravenswood and Beech Grove. There are four tickets In Woodruff Place, two in Beech Grove and two in Havens wood.

Net Earnings Available for Interest $40,576,746 40.557,977 41,117,487 44,743,376 48.940.466 64.293.017 60.243,387 70.656.904 73,523,813 81,668,440

Year ended December 31 1913 1914 1915 1916 1917 1918 1919 1920 1921 1921

FATHER KILLS SWAIN AND GIVES SELF UP Law of Frontier Prevails When Girl Tells of Alleged Attack. By United Pres* BONNER SPRINGS, Kan., Nov. 6. —The law of the frontier prevailed when Hugh Hooker shot and killed Eugene Peoples, 23, Hooker said his daughter told him Peoples had attacked her. Peoples and the gifl had been sweethearts for years. Hooker gave himself up and was held on a charge of murder. Marriage Licenses H. V. Davis. 21. 1415 N. Alabama; Edythe Pogue, 19. 610 N. Noblo. George Bledsoe, 25. 2035 Ludlow; Ida Abernathy. 26, 710% W. North M. W. Lankford. 23. 3935 N. Temple; Kathleen Smith. 22. 1904 Fletcher. A. R. Allen. 25. 238 W. Michigan; Effle Braxton, 23, 508 W. Vermont H. W. Divelbiss 28. 3040 Central; Shireman. 24 928 E. Maple Rd. C. X. Fulton. 21. 757 N Tremont! Gertrude Thompson. 20, 1117 McLain. E. E Hudson. 38, fill Lexington; Ethel Hudson, 30, till Lexington. Fred Cravens, 33, 1831 Fletcher; Edna Yonnp, 35. 103 E. 9t. Clair. W. E. Brcil. 34 2110 Webb: Emma Beutler. 31. 1027 Prospect. O M. Moore 24 3037 Qraceland; Mildred Wright. 19, Decatur. 111. W. E. Gulley. 26. 1740 Dawson; Clara McDonald. 20 1740 Bauson. O. E. Faulkner. 23. 1039 N. Mount; Ponhta Wybenga, 18, R R. A, box 107. El’ia Lingle. 22. 2C3 Minera: Mae Poulea, 20. 207 Minerva. Wc-sley Metzman. 19. 914 E. Fourteenth; Geneva McCullough, 17, 918 3. State. M. L. Keee. 21. C 25 N. New Jersey: Alta Roc. 18. 1116 N Dearborn. Malden St wash. 27 122 W. Tenth: Elizabeth Janek, 21. 714 Haugh. Jesse Day, 53, Muneie. Ind.; Nellia Priller. 49. 213i Barrett. R. F. Mauer. 23. 205 Leota: Sophia Scott, 19. 839 E. Maryland P. G. Salmon, 23. Louisville. Ky.| Anna Slate. Twenty-Second and College. Streets on Otic Program Plans for Improving the main thoroughfares leading downtown from southeastern Indianapolis will be discussed Wednesday night at a meeting of the Southeastern Civic Improvement Club at School 39, Lexington and State Aves. The 1924 park board program will be discussed.

Net Income $32,920,090 32.334,814 34,618,637 88.013.277 38,471.106 43.901,322 44,395.791 51.811,216 84,002,704 66,170,428

tnterert $7,656,656 8,223.163 6,498.850 6.730,099 10,469,360 10.391,695 15,847.596 18.865,688 19.521,109 16,498,012

SEARCH IS BEGUN FOR MUNCIE GIRL Fear for judge's Daughter, Missing Since Thursday, By United Press MUNCIE, Ind., Nov. 6.—Dlsappear©nce ot Miss Marguerite Dearth, 22, daughter ot Clarence W. Dearth of the Delaware County court remained a mystery today. A nation-wide search for the girl was begun Sunday night. The young woman who had been threatened with a nervous breakdown has been missing since Thursday. At the time of her disappearance she was employed as a clerk In the office of the county probate clerk. She Is four feet eleven Inches In height and weighs 110 pounds. She Is fight complexioned. with light brown hair and blue eyes. When last seen she left a home in the east part cf the city where she had gone on business. Judge Dearth has been unusually active In juvenile work and lt is feared she has suffered some misfortune. HOLD-UP OBTAINS $14.90 Bandit Uses Gun to Relieve Victim ol His Money. Arthur Clark, colored, 780% JCCalifornia St, was robbed of 814-90 by a bandit who accosted him aa he was crossing the first alley west of West St on St Clair St, Saturday. Clark told police a man spoke to him and when he went to see wha: the man wanted & revolver was pressed against him.

Number of Timer Interest was Earned 5A 4.9 6.3 6.6 i 4.7 6.21 3.3 3.7 3.8 5J

11