Indianapolis Times, Volume 35, Number 162, Indianapolis, Marion County, 20 November 1923 — Page 11

TUESDAY, NOV. 20,1923

BUOYANT TONE IS , KEYNOTE OF TRADE IN STOCK MARKET f Sterling Recovery Has Beneficial Effect on Speculative Sentiment. POOL- MANAGERS BUSY Steels Bob Up as Leaders While Other Group Favorites Follow. The WALL STREET JOURNAL NEW YORK, Nov. 20.—Sterling ex- • change continued to recover in the early dealings today on overnight confirmation of news that the allies had averted a split. Stocks reflected this -development in a generally buoyant tone in the early dealings and Baldwin moved up a point to anew .high on ' tile move despite President Yauclain's genial that a special distribution to itockholders was contemplated. Other ndustrial leaders also scored fair gains, while the rails were fractionally higher. First Hour Following the display of strength in the early dealings, bullish demonstrations were resumed in many sections of the list. Pool managers losY no time In taking advantage of the prevailing buoyancy and substantial advances took place in Gulf States Ster* and various other group favorites. Steel common wenb into new high ground on the movement, in response to belief in trade circles that operations of the Steel Corporation In the first two months of the last quarter of the year will compare favorably with the average in the third quartern Second Hour , The bullish enthusiasm proved contagious, the upward movement spreading to a numbqf of fresh groups in late morning. A decided scarcity was evidenced in life floating suppy of several specialties. American Pe-t Sugar’s first appearance on the tape t’pls w-k was featured by a run-up of 5 points on i light sales. The advance in Cuba Cans Issues wm resumed. The feeling In the trade 13 that the stock had not fully discounted the strong annual report and the fact that in two years $29,400,090 bank loans had beer, raid off. Noon Hour. a In the noon dealings there was wnuch ground ga ned. Maxwell .ssues furnished an exception, "A" stock break.ng 5 points on the knowledge that there was little foundation for var ous merger rumors be circulated. The ois were helped by ind cations that cond.it.ons in the indue'rv were slowly turning for the better. Cons dereble s gnif’car.ce was attorned to the action of Magrtoiia Pete, in a ,v".ncir„ the price f~one grade of .crude 25c a barrel. Republic, BethCrue ble. Sloss Sheffield and r.’v .trs were act.ve at slightly higher levels. y :)•.• ve industrial stocks on Monday average.! 91.35, up 1.70 per cent. Twenty active rails averaged 80.56, up .76 per c^nt. Local Bank Clearings lndian(x> Is b- nk c'arajt Ttiwday were $2 402.000; bank debits were 5f1.806.C00. New York Money Market By I'r‘tc F nanciai NEW YORK. Nov. 20.—Tine money market dull at 3 to SV per vnt. Trmlimr n. rt >r" >• 5 t> r eent for thirty to ninety day* Commercial paper market moderately active at 5 to 5 % per cent. Foreign Exchange By United Financial NEW YORK. Nov CO—Foreign exchange opened higher: Sterling, demand 54 34 % : cables. 434 Tic. Francs, demand. 5.39 c cables f. 39He. Lire. demand 4.14 He, cabies. 4.35 c. Belirian. demand. 4 fll He: ■ cab >3. 4.62 e. Marks, demand 5.000 000.000 COO. Cz<vh demand 2.88'4c: cab e. 2 89c. Si=a demand. 17.38 c: cables. 1740 c Goiders. demand. 37 75c: eables. k :i7 78<- Peectas. demand.* 13.10 c. eables. 3 l •*,■ Sweden, demand 26 40c: cab'es. K(fl *.Oe Norway, demand 14.58 c: eables. ■l* 6”Denmark, demand. 17.19 c: cables. 17.23 c OILS ADVANCE IN EARLY CURB MARKET DEALINGS Industrials. However, Are Mixed, With Ibnrant Down 2 Points. By United Financial NEW YORK. Nova 20. —Substantial progress in the oil group featured the curb market opening today. Prairie Oil and Gas was stimulated by figures showing that the Standard Oil Companies were paying even better dividends this year than last, despite the demoralization of the crude oil situation, and at one time was up as much as 10% points to 196. Ohio gained 2% Kentucky 14. South Penn the same amount and %- point gains were the rule In others of the stairards. Imperial was back at par and Illinois Pipe steady at 130. Ther° was noticeable activity In New Mexico and Arizona land. The industrials were mixed with Duranc down 2 points. Peerless Motors was up 4- * Fain Knitting was an early favorite. gaining a point, and Wrlgley common, new, was in demand at slightly j better prices. Admitted to trading: F. M. Lupton, Publisher, incorporated, 150.000 authorized shares class "B” common stocks, no par value. The Issue opened i at 104 and went to 104. Tank Wagon Prices (Gasoline prices quoted do not include - State tax ot 2c a ration.) ' GASOLINE: —Enerree. 12.2 c a ration: ipurol 12.2 c: Red Crown. 12.2 c: Target. 42.2 c: St'ver Flash. 16c: Standoliud avia- | tlon. 10.06 c. KEROSENE —Crystaline. 10.7 c; Moore Light, lie Perfection. 10.75 c. NAPTHA —Lion l*oyer e>aners. 25.1 c; V M A P. 22.1 c: Stamiolind cleaners. *2 1C In the Cotton Market Btt United Financial NEW YORK. Nov. 20.—The cotton market opened higher: December. 34.70 c. up 2 January. 34.40 c. up 15 points: ar. tv. 34.60 c. up 15 points.

New York Stocks (By Thomson A McKinnon) —Nov. 20—

Rail roads— At 12:45 Prev. High. Low. p. m. close. Atchison 96 4 96 H % B. & 0 58 4 58% 58% 58 % C> A 0 73% 73 J3 C. R. A P... 24% 24% 24% 24% CCC A St L. 106 104% 106 103% Erie Ist pfd. 28% 27% 28 27% Gt Nor pfd. .56 % 56 % 56 % og % Mo Pae pTu. . 284 28% 28% 28 N Y. Cen 102 % 101% 101% No Pacific... 53% 53% 02% Pensylvanai... 41 % .... 41 % 41 % Reading: 78% 77% 7<% So Railway.. 36% .... 36% J®% So Pacific... 87 86% 87 87 St Paul pfd . 26 .... 26 26 % St L A S W 30% 30% 30% 30% Union Pac .. 131% 131% 131% Wabash pfd. 34% 34% 33% Rubber*— Kei’y-Spg. ..27% 27% 27% |U. S Rubber 37% 37% 36% Equipments— Am. L0c0... 75% 74% J4' Bald. Loco.. 129% 127% 128% 1-8 * Gen. Electric 181% .... 181% 181% Lima Loco. .. 66% 60% 60% Pullman . . 125 IC-' 124 West Elec. . 58 % 56 % 08 % Steels— Bethlehem .. 51% 51% 51% 61% Cruribie 60 ‘>% 60% 65% Gulf States. .83 .81% 83 81% Rep Iron A S 48% 47 48% 47 U S Steel. .. 94 % 94 % 94 % 94 % Motors — A B Magneto 34% 34 34% 33 Chandler Mo .52 ... 52 51 4 Gen Motors.. 14% ... 14 14 Max Mo “A” 58% 56% 57 56% Studebaker ..104% 103% 103% 103% Stromberg -.. 82% ... 82 81 % Stewart-W. . . 87% ... $6% Timken 37 % ... 37 % 38 % Oils—* Calif Petfol. . 22% 22% 22% 23 Cosden .... 28 ... 27% 27% Marl and Oil.. 24% ... 23% 23% Pan-Am Pete 60 % 59 % 60 %o 9 %

GRAINS GO HIGHER | IN OPENING TRADE ts / Marry Factors Contribute to Strength in Wheat. By United Financial CHICAGO. Nov. 20.-—Grains were higher at the opening on the Chicago Bbard of Trade today. A cablegram frorrt Bloomington to the effect that Russia had oversold and was now offering less grain, better foreign outlook, improvement j in export business overnight and a ; higher Liverpool market. brought buyers into the wheat market and substantial gains were made. Corn went up with wheat, but met some selling on the advance. Good weather and reports of rapid progress in husking and shipping of the new crop kept all but .the more optimistic buyeru out of the pit. Receipts although smaller than on Monday failed to have any effect on sentiment. Oats, although opening unchanged, maintained a steady undertone. Receipt were light. Provisions opened higher. Higher hog markets and some local demand offset weaker cables. Chicago Grain Tabic —Nov. 20 — WHEAT— r T rev Op* n. High. Low. Cose. c!o*e. Dee... 1.02% 1.03 102 102% 1.02 % Mar 108% 1.06% 107% 108 108 * July 106% 1.07% 1.00% J.,06% 1.06% Dc?° RN ‘74% .74% 73% 73% .74 May.. 73% .73% .72% .72% -.3 'July . 73% .73% .72 .2% .7.1% OATS— Deo. . .42 H 42 H .42 H 42* 42 May . 44 .44% .44 .44% .44 T uy 43% 43% .43% .43% .43% LARD — Jan 12.00 12.00 11.80 11.95 11.80 RIBS— Jan. 10.00 10.00 9.97 10.00 9.42 RYE— Dec. . .68% 68% .68 .88 68% May . .73% .73% .72% .73 .72 CHICAGO. Nov 20.—Car lot receipt!.: Wheat, 25; com. 329: oaU. 66: rye. 12. Local Hay Market Loose fc*.y. 518(9 21; 517(9 20: ifht mixed hay. 517 ©2O. Local Wagon Wheat Local mill* and elevator* are paying $1 for No. 2 red wheat. Produce Markets INDIANAPOLIS. Nov. 20.—Fresh eggs. | lose off. 64c: packing *tock butter. 30c; springs, over 2 lb*., 17e: fowls, 4% lbs. up, 19c: fowls under 4% lb*., 10c: Leghorn j poultry. 25 per cent discount: cocks, 10c: i young tom turkeys, 12 lbs. up. 33c; young hen turkeys, 8 lbs. up, 33c: old tom tur- ■ keys. 28c: ducks, 4 lbs. up. 18c; geese, 10 bs. up 17c: young seer*. 6 lbs. up. 15c; squabs. 11 lbs .o the do*., $5: young , guineas. 1% lbs up. do*.. $7; old guineas, ! do*.. S3; rabbits, drawn. No. 1. do* S3. 1 Indianapolis creameries are paying 54c a pound for butterfat. CHICAGO. Nov. 20.—Butter —Receipts, j 9.853: creamery extra. 52 %c standards, 149 %c: firsts. 49 Hi 51 %c: seconds. 42® •12 %c. Eggs—Receipts. 2.106: ordinary j firsts, 35® 42c: firsts, 48® 52c. Cheese— Twirs. 24c: young Americas 25%e. Poultry —Receipts, ll cars: fowls, 10®18%c: , ducks, 19 %c: geese. 18e springs. 18c; turkeys. 28c: roosters. 13c. Potatoes —ReI ceipta, 596 cars; Wisconsin round whites. I 85c®$105: Minnesota North Dakota U. S. No. 1, 90c<851.15: Idaho russeta. $1.85. / CLEVELAND. Nov. 20.—Butter—Extra in tubs. 56®58e: prints, lc extra firsts. 55® 57c. F.rgs—Fresh gathered northern extras. 01c: Ohio firsts. 55-: western firsts. ! new ea-es. 53c. Poultry—Heavy fowls. 20 ®2lc: medium fowls sl9®22c: cocks. 13, <n 14c. Potatoes —Michigan round white. *1.60® 1.80 per 150 ibs.; Ohios. 51.75® 2.25 per 150 lbs. . NEW YORK Nov. 20 —rflour—Quiet, unchanged. Pork —Steady:”mess, $25.50® j ! 76. Lard —Steady: Mid West spot, $14.35 (g 14 45. SugAr—Raw' steady, 7.28 c; refined steady: granulated. 8.76®8.90c. Celfee—Rio spot, lie; Santos No. 4. 14% ® 15%c. Ta'low —Dull imperial to extra, 7% ■ ® Bc. Hay—Ea*ier: No. 1. 51.50; No. 3. $1.25®! .30, $1.15® 1.40. Dressed poultry —Unsmt’ed; turkeys. 26®-18c: chickens. 18 ® 47c; fowls, 15® 30c; ducks. Long Island, 26®29c. Lite pou'try—Unsettled: geese. '4®2sc: ducks. 14®25c: fowls, 15®28c: turkeys. 40c: roosters. 14c: chickens, 18® 70c: broilers. 20 ®3oc. Cheese—Firm: State whole mi k. common to speeial. 22® 2Sc: State skims, choice to speda's, 16® 19c: lower grades. c*® 15c. Butter—Easy: receipts, 8 304: creamery extra. 63%® 54c: pedal market 54% ®s6c; State dairy tubs. 40® 53c. Eggs—Firm: receipts. 13,004; I nearby whites, fancy. 84®S6c: nearby State! whites, 48®80c: fresh firsts to extras. 52 ® 08c. Pa ilie coast. 34® 80c: western whites, 46® 86c: nearby browns. 09®77c: Danish. 51®52%c: Argentine. 41® 43 Vic; fresh gathered extras. 64 ft* 70c: fresh storage packed, extra .firsts. 00 ® 63c: firsts, 50 ; ® 58c: lower gr. des. 30@48c: dirties, No. 2 27® 32c; Pacific eoast. firsts to extras. 65 @ 80c. Dressed Beef Prices Whole”ale seeing prices on dressed beef. Swift A Cos : Ribs—No. 3,30 e: No 3,17 c. Loins—No 2. 25c: No. 318 c. Round*— No. 2. iSOe; No. 3.15 c. Chucks—No. 2. 13c: No. 3.10 c. Plates—No. 2. 8c: No. 3.7 c. Cloverseed Market Local dealers are paying $7.50® 10 a bushel for oloveneed. Raw Sugar Market By United Financial NEW YORK. Nov. 20.—The raw sugar market opened steady: December. 5.40® 5 46c: January. 4.95 c: March. 4.41®4.42c; Mty. 4.49® 4.50 c. 1

Frev High Low Close, close Pan-A Pete B 58% 67% 68 67% Pro. and Ref 18% ... 18% 18% Pure Oil 17% 17% 17% Std Oil of Cal 55% ... 65 55% Std Oil of N J 3.3% ... 33% 33% Sinclair 19Vi ... 19 19% Texac Cos 39 % ... 39 % 39 % Mining*— Gt. Nor. Ore. 31% 31% 31% 31 Vi Int Nickel... 11% 11% 11% M.% Coppers— Am Smelting. 68% 68 68% 67% Anaconda 37% ... 36% 37% Keimecott 34% 34% 34% 34% Industrials— Allied Chem.. 06% 65% 65% 66 Amer Can. .101% 100% 100% 101 Amer Wool. . 73 % 70 % 71 % 72 % Coca-C01a... 74 73% 73% 73% Com and Tab 82 81 % 81 % 80 % Coni Can.... 51 % ... 50 % 51 % Fam Players. 65% 64 64% 64% Gen Asphalt. 33% 32% 33 32% Int Harvester 76 % " . . . 70 % 70 Mont Wan!.. 26% 25% 20 25% Nat Enamel. 45% ... 40% 40 Sears-Roebk . 80% 80% 80% 85 % U S Bid Alco 60% 59 % . 00% 59% Utilities— , Am T and T. 123% ... 123% 123% Con Gas 58% 68% 58% 68% Col Gas 30% 32% 32% 32% Shipping— Am Int Corp 25 % 24 % 25 % 25 % Int M M pfd 34% 33% 33% 33% Foods— Am Sugar... 57 55% 57 63% Am Bt Sugar 40 30 38% ... Corn Prod ..130% 130 130 ISO Cu Cn Su pfd 52 60% 51% 49% Punta Alegre 53% 52% 63% 62% Tobaccos— Am-Sumatra 20% 19% 19% 20 Tob Prod B. 57% 50% 57% 67%

Your Dollar Uncle Sam Tells Who Gets It.

REFRIGERATORS // Cents \ (l Cents Labor \ | Hater- SoCeots] V iaJa / Profit & j \ / Overhead // / Jnc Jading // / Taxes eorrsissT iz a* * cwjo*. *• , ox. SHE refrigerator, rare fifty years ago, now is found in every home and is said to have added one year to the span of human life through making possible the consumption of a greater variety of musciebuilding food. The refrigerator now is regarded as much of a home necessity as the family ciock. A study of the Industry if manu--1 facturing refrigerators was made by ! the United Slates government. Out | of each lollar received by the manufacturer. 4 7 cents is pajd out for ma- | terials. the government found. To ! labor went a total of 23 cents. leaving 30 cents for profit and overhead, including taxes. The selling price of the refrigerator must be Increased 4.7 cents on each dollar received by the manufacturer each time his material cost goes up ! 10 per cent, the government found. A 1(T per cent increase in labor inI creases the selling price 2.3 cents on each dollar. NEXT—Metal Furniture. Business News NEW YORK. Nov. 20.—Preparation* are being made to handle a large volume of financing by one of the big Standard Oil Companies, according to advices in banking quarters. The burden of carrying a huge surplus jf ail. estimated at 600.000.000 barrels, by Standard Oil is proving excessive for the companies, and recour** to public financing must be had Standard OU estimates $1,000,000,000 tied up in oil in storage and that the interest cost of carrying and loss is $150,000,000. WASHlNGTON—Government cottou ginning report will be issued at 10 a. m. Wednesday. , NEW YORK—Thai the New York Cotton Exchange officers are determined eo exert every effort to end bucketing by brokers ecame apparent when it was learned that offices of two southern ex hanges had beeu called to New York to confer with directors of the business conduct committee of the New Fork Institution. The southern ex--h nges arc the Augusta Cotton Exchange and the At'nnta Commercial Exchange, both of which Gonrgii in tltutions have affi'tation with the New York Cotton Exchange. It has been learned that at lea-t twelve brokers, members of the odd-iot exchanges in this city, hod membership in the southern tioards. In this way they are able to obtain the official quotations of the New York exchange, a though that body has refused to give the figures to them. NEW YORK—The Berlin Gqvemment. says a German dispatch, is negotiating with a British American banking group for an additional $150,000,000 short time credit, to be guaranteed by some of the btg German land owners The loan Is Intended to furnish a gold basis for the new Central Bank now being planned by Herr Behacht. chancellor Stresemann' s minister of currency. WASHlNGTON—Administration plans no loan or charitable gilt to Germany, according to Secretary Hoover. WASHINGTON —The industries of the country are now operating at a hirh rate of productivity, according to Secretary Hoover, who stated he anticipated no immediate change in the general situation. Busines does not need much stimulus, he said. One phenomenon this year is a decrease in forward orders and greater purchases for Immediate delivery The pn dictions of pessimistic forecaster* have not been fulfil ed but on the contrary have had the good effect of teaching caution, the secretary declared. WASHINGTON—Senators Lodge and Smoot were with President Coolidge for a short time reporting to him the situation In Congress on the Mellon program for a reduction of taxes and the elimination of the bonus. They found the President is becoming stronger each day in his conviction that the reduction of taxes is the right thlnj to | do. as thousands of letters reach the White House from all parts of the country upholding his decision to recommend to Con- | greas the adoption of the tax reduction program. Grain Briefs CHICAGO. Nov. 20—Suits to recover approximately $750,000 from four railroads growing out of charges that the roads fared to reduce freight rates on grains and grain products in ■accordance with a ruling of the interstate commerce commission effective Oct 20, 1921, were filed In Federal Court here Monday. The roads affeeted are the Chicago. Burlington & Quincy, Chicago. Rock '■Valid A Pacific, Chicago Great Western and Chieago. Mi'waukee A St. Paul The suits were Instituted in behalf of 800 grain mer. of the Middle West. Similar suits were ! filed 111 Kansas City to recover $250,000 ] from the Union Pacific and Kansas City Southern. Jarmers of the West are hciding wheat confining their activities to moving cow Middle West com producers prefer to sell surp'us corn rather than to build new ! cribs to store it. Over a balf million bushel* of Canadian I wheat were thrown on the Toledo market Monday.

THE INDIANAPOLIS TIMES

HOG PRICES AGE UNEVENLY STEADY Some Sales Strong and Others Lower —Demand Good. Nov. 250-300 lbs. 200-225 lbs. 150-180 lbs. 14. 7.10® 7.25 0.85® 7.10 0.65® 6.80 15. 7.10® 7.25 o.Bo® 7.10 6.60® 680 16. 6.90® 7.10 6.65® 6.85 6 50® 0.6 u 17. 7.15® 7.35 6.90® 7.10 6.76® 6.90 19. 7.30® 7.50 7.00® 7.25 6.85 ® 7.00 20. 7.30® 7.50 7.00® 7.25 6.8.)® 7.00 Hogs sold unevenly steady in trading at the local livestock market to- : day, some droves having sold 5 to 10 j cents lower, wnile spotted sales might | have been strong to 5 cents higher. I The extreme price range remained | unchanged and one large buyer indi- ! cated his supply of several thousand ! hogs would cost about Monday’s averj age, losses or gain on spotted sales I having been attributed to the irregui lar buying of shippers who entered | the market at intervals. On the I whole the demand was excellent, but receipts so 16,000 or more hogs kept j prices from adding any strength, j though early indications pointed to a j good clearance. The top for heavy- ! weights was $7.50, at which price most ! hogs weighing 260 pounds or more sold, while no sales of good light hogs were reported under 56.86. Medium and mixed hogs sold unchanged at $7 to $7.25. at which figures the bulk of the hogs moved, as numerous droves of good lights sold up to $7. Prices for sows and pigs were firm, with I sows at $6.25 down and pigs at $6.50 down. Monday’s clearance left only 102 hogs unsold, a fact that contributed largely to the day’s firmness in the face of large receipts. The cattle market was a little more active than on Monday, due to larger receipts of 800 and the presence of a couple of loads of prime cattle that attracted the attention of buyers, who for the past two weeks have be'-n unable to find other than common and | medium grades lr the yards. Trading was at generally steady prices. Due to lack of demand and fairly heavy receipts of 800, prices for veals declined generally a half dollar to a ton of sl2. while the bulk sold from sll to $11.50. I,amb prices dropped generally e. half dollar to a top of sll 50. while sheep sold steady at $6 down. Receipts, 250. —flex*— 1 Centre, )|rb*>, $ fi 85 695 Llirht mix*® 6 05® 7 10 Medium mixni .. . 7 15® 725 Heavywelfht* 7 30® 7.30 bi lk ot gales 7 00® 7.25 Top - 7.30 Fix* 6 00® 650 ■ Pa< ktnj sows 6.76® f1.25 Cattle— Fw choice *teer* ......... $lO 00® 11.00 Prime corn-fed steer*. 1 000 to 1 800 Ibs 9 00 ® 9.50 Good to choice steers, 1.000 to 1100 lb* 850® 9.00 Good to choice steers. 1.000 to 1.200 lbs 7 50® 8.00 Good *0 choice steers, 1.000 to 1.700 lbs ... fl.oo® 7.50 Common to medium steers. 800 to 1.000 lbs 5.00® 7 00 —Cow* and Heifers— Choice to ltrht heifer* $ 9 00® 10 00 Good heavyweights 7 25® 9 00 Medium heifers 6 00® 7 25 Common cow* 3 00® 000 Fair cows 6.00 H 7 50 I Cotters 2.76® 3.25 , Calmer* 2.26® 3.76 —Rolls—j Fancy butcher bulls $ 5 00® 0 Good to choice butcher bull*. 6.00® 3.50 ; Boloxna bulls 4..>0® 3.00 —(alt e*— 1 Choice veals $lO 00® 17 00 Good veals ®.oo@ 10.00 Medium veals . 7.00® 900 Lightweight veal* ■ . 7.50® 800 Common veal* 7.00® . >0 Common heavies 0.000 7.00 Top 12.00 —Kheen and Lambs— Extra choice lambs slo.oo® 11.50 1 Heavy lambs # B.oo® 10 00 Cull lamb* 6 00® 700 Good to choice ewes 4.00® 700 Cull* 2.00® 3.00

Other Livestock CHICAGO. Nov. 20.—Hos* —Rocslpt*. 44.000: market. 10c up: top. 57.30 bulk $6 70 ® 7.10; heavyweight. 87® 7.30 medium, . $6.767.25; light. $0..5®7 05: light 1 inlits $5.65®0 55: heavy, smooth s6.3o'it 0.85; packing sows, rough, $6.2610.50: killing pig* $4 75®0.20. Case -it c lie--14,000: market, slow: killing quality slightly improved: fed steer* u..u }i u-. and better grade she-stoek steaily market, lending lower; $12.50 asked for strictly choice liar.dyweiglit steers: $11.50 bid on choiee weighty short fed; matured steers. $7 50®9 50; cannera and cutters easy, bulls steady: veaiers 25'* off: packers buying at $8 ® 8 50: outsiders' up to $9 and above Stockers and feeders steady. Sheep—Receipt*. 13 000 market, steady to 10c up; spots more: shippers and city butchers active; buyers seeking desirable fat lambs at sl2.3t> ®l2 60: several loads at top packers bidding t<-ady: little done on sheep and fe-d a. KANSAS CITY, NoV. 20 —Cattle— Bo•eipte. 12.000; calve*. 4,000; slow; very few desirable killing steers offered: receipts iirgely are she stock of plain quality: practice !y no e.ir y p&iek: a few odd lot yearlings sorted off show cattle at $11.76® 12: desirable stock ere and feeders fairly steady: u 1 steady: ea 1 y sa ! es, $7®7.40 Hog*— Receipts, 14,000: mostly 5c to 10c higher; packers and shippers, spot. $6.80: desirable 210-280 pound average*. $6.70® 6.80: packin sows mostly $6 150 0 36. Sheep—Receipts, 4.000: no chofoe fat lambs offered; n i.es and lots sheep steady; ear'y top native*. sl2: small bunches etwes, $6.6000. EAST BUFFALO. Nov. SO.—Cattle—Receipts. 400; market slow, steady: shipping stores, $9.60012; butcher grades. $7.75® 9.50: cows, $1.50® fl. Calves —Receipts. 450- market slow, 50c lower: culls too choice. $3.50® 12. Sheep and lambs—Re celpts. 4.000; market active, 26c lower: choice lambs. sl2® 12.60; culls to choice. s7® 11.50; yearlings. $7010; sheep. sß® 7 50. Hogs—R> celpts, 8,000: market 10® 25c higher; Yorkers. $6.7507.35; pigs. $0.5000.75; mixed. $7.35: heavies, $7.36® $7.50: roughs. $5.5006; stags, $404.60. PITTSBURGH, Nov. 20. —Cattle—Receipts. light: market, sternly: choice. $9; good $8 0 8.50: fair. $0 0 0.85: veal calves. sl3 013 25. Sheep and lamba—Receipts, light: market, steady: prime wethers. $7.50 ® 7 75: good, s7® 7.25: fair mixed. $5.50® 650 lamb*. $9 0 12.75. Hogs—Receipts. 10 dd.; market higher: prime heavy. $7.00; medium*. $7.50: heavy yorkers. $7.50® 7 60: light yorkers. $6 500 7: pigs. s6® 6.50; roughs. $5.5000.25; stags. $3.50®4. CINCINNATI, Nov. 20.—Cattle—Re.vipts, 400: market steady; shippers, s7@9. Calves —Market weak to ffOc lower: extras, slo® 12. Hogs—Ree. Ipta, 6.800: market steady to 10c higher: good or choice packer*, $7.60. Sheep—Receipts. 1,000; market steady: extras. $4 6 5 50. Lambs—Market steady; fair to good. $11.50® 12. I. N. G. Property Not in Fire Property of the National Guard escaped damage in the flie at the Kokomo Aviation Corporation field Monday which destroyed sixteen privately owned airplanes, it was announced at the office of Adjt. Gen. Harry B. Smith today. General Smith made a trip to Kokomo today. Auditor’s Report Finished The annual State auditor’s report was completed today, ready to be incorporated in the 1923 Indiana yearbook. The reftort, compiled by State Auditor Robert Bracken, and Deputy State Auditor Carl Cue, shows all the State’s Institutional and departmental transactions during the last fiscal year. Glenn to Be Operated On Traffic Captain Miqhael Glenn will undergo an operation for removal of tonsils Wednesday. He was confined to his home today.

FIGHT TO OPEN OK ROADSFORPARKS Budget Director Lord Is Object of Attack, W. H. PORTERFIELD WASHINGTON, Nov. 20.—Stephen Mather, super i utendent of National Parks, is prepir.ng to make a fight before Budget Director Lord this coming sess.on for adequate appropr.ation for nati* nal park roads and highways. Recently, for example, several million dollars of proceeds from sales of timber were apportioned among western States for road building purposes, but not a dollar of this money can be spent within the parks.Altogether a grand total of $540,000,000 has been appropriated for Federal aid In highway building in the forty-eight States and $52,000,000 for the same purposes in the National Forests, but only $3,000,000 his reached the Nat.onal Parks in the past fifty years. Congress is perfectly willing to appropriate the needed money, but so far General Lord has put his foot down on any adequate appropriation for this purpose. Meahtime, 1,500,000 persons visited our Nat.onal Parks the past season and for the most part found the roads in bad condition and grwonig worse e-zerv hour Yosem.te Park in California, the most congested of all our National playgrounds, was almost impassable during the months of August and September on account of chuck holes, dust pockets and general collapse of the princ.pal roads. Marriage Licenses Chadey Fo.“*eU. 2i, 514 Drake: Georgia Dunn. 23. 745 Minerva F. .1 Steinmct*. 42, Loubvtlle. Ky.. Elizabeth Roth. 18 Louisville. Ky. D. V. Dugan. 26. 114 Drexel: France* O'Conner, 23. 1020 Ashland D. R Davijs. 40, 702 Middle Dr.; Pearl I Woodbury 36. 702 Middle Dr. Bursy Holland ill, 233 W Michigan; Mane Spencer, 18, 233 W Michigan. W. F. Homan*. 27. Ft. Harrison: Mary Braun, 19, 1605 N. Alabama. John Taylor. 3<>, 1430 S. Belmont; Zoe Bl*< klidge, 20. 14 50 S Belmont. Arthur Brad field. 30 928 9. Capitol: Beva Fisher. 25 910 Mrikei. G. C. Laug. 28 849 N. Temple: Be esc Slant*. 26. 840 N. Temple Richard Sehrand. 27, 935 Market; Lillian McGuire. 23, 1021 S. New J< r*ey. E. L Wakefield, 24. 628 E, Market: Nora Hill. 24. 301 E. North. Births Boy* Isaac and Anna Atkinson. 239 N. State. John and Hattie Morgan. 130-5 Tuxedo. Willard and Freda Eikenberry, 1429 Spann Kred and Matilda Kamm, 1713 Prospect. John and Eatelle Cameron. 20 Richland. Voorheeg and Ethel Norris. Long Hospital. Walter and Helen Schell. 2143 Northwee tern. Honnell and Mary Shreve. 534 E. Ohio. Milton and Rose Scales. 541 Concord Dewey and Marie Knight. 120 Minner. Girl* Cedi and Edna Kirk. 1438 W Thirty Fourth. Webster and Emily Franklin 212 Good. Edgar and Alice Partiow, 901 Ewing Edward and Deesa Perkin*. Long Hospital. Walter and Elizabeth Brigham, Long Hospital Robert and Helen Tafel Long Hospital. Charles and Hazel Rusacll. Deaconess Hospital. f.e*ter and Helen Downing, 2158 Highland Place. Stanley and Winifred Selliek, Methodist Hospital. Veter and -Mary Hind*. 18d8 Pleasant Run Blvd. Clarence and Fannie Fletcher, 1516 Cruft.

Deaths Mary L. Brhwaer. 00. 118 W. Eighteenth, itrebral licmorrlmge. Can Smith, 13, 829 At him. cerebre men ingitis. Cynthia Smoot. 85. 1468 N. Alabama I (wt(-no*c,i‘roU. 1 Alma M. Karas*. 41. Methodist Hospital, j uremia. I Charles Henry Watson, 8 months, 910 I Fayette, gastro enteritis. Rosalie Means. 04, 901 Parker, carcinoma. Frederika'Hofmann, 59. 9t. Vincent's Hoa- ! pitai, acute nephritis. I Marv r 'mma Smith. 57. 62 8. Denny, lobar : pneumonia. ! Amvn v.ommixiore Weaver, 82, 919 N. j Pannsylv ama. chronic myocarditis Be va A Furgason, 81. 23 Johnson, cerebral apoplexy. Ne. le C. ~ eil kersham. 19, City Hospital, | lobaf pneumonia Henry Lindsey Browning, 65, 3431 Carj roilton. cerebral apoplexy. | 91 na Jensen, 84, 4z05 Rookwood, arterioi sclerosis. j Chares Carl KrausO. 70, Doaeonesa Hoa--1 pltal. gangrene of left limb. I Char e . r’. Hoover. 67. Deacons** Hospital, i hemiplegia. Retta C. Glltner. 70, 1032 College, cansnoma. Shedoy Thomas. 2 days. 3718 Roosevelt. ' ate ectasiS. Vai'i.. ’’hlilppa, 82, 731 Drake, cerebral hemorrhage. ( Marv '.an, 80. 620 H. Vermont, chronic myocarditis. .will al, 69. 1048 W. Thirty-Sixth, arterioscierori*. Bessie Mnr in, 10. 1223 9. Pershing, mitral Insufficiency. M A anUd. 41. Long Hospital, chronic myocarditis. h ; mine Trammel, 42. City Hospital, ■pyaemia. Danin: W. Vaughn. 20. 2927 Columbia, pulmonary tuberculosis. Ernest H. Jospcr. 73. 909 S. East, acute dilatation. George Averl'le 37. City Hospital, pulmonary tuberculosis Margaret Hobbs, 68, 23 8. Oriental, carcinoma. Louisa Porter. 40, 8116 Boulevard Pl., peritonitis Building Permits Bessie Earhart, dwelling. 3620 Salem, $6,000. George I. Hoffman, garage, 1302 N. La Salle. S3OO. Mart Conaway, dwelling, 1430 K. Terrace. Arthur L. Zoeller, garage. 292 fl N. Gale. $250. Federal Electric Company, sign, 115 E. Ohio. S9OO. Catherine B Mott, dwelling. 642 Powell, $7,000. James Beeler, garage. 4238 Royal, S2OO. Union Clothing Company, sign, 118 N. Pennsylvania. *655. Barton W. Cole, remodel. 5604 S. Washington, S2OO. H. W. Leonard, garage, 1424 H. Washington. S2OO. R. H. Dawson, garage, 118 Good, $225. J. W. Lockheed, addition. 1202 N. Pennsylvania. $246 J. W. Lockheed, garage. 1202 N. Pennsylvania. SSOO. Margaret Potter, tarage, 1109 River. S3BO. FIRE LOSS AT SOUTH BEND CHURCH IS $30,000 First Baptist Structure Will Be Redecorated and Refurnished By United Preaa SOUTH BEND, Ind., Nov. 20. Flames due to defective electric wiring caused damage estimated at $30,000 at the First Baptist Church here Monday night. Six fire companies were called and fought to keep the flames from spreading to business houses. The church Is to be redecorated and refurnished. Two Thefts Reported Thefts were reported today by: Clarence Eweat, 225 W. St. Clair St,, ‘.wo suits and overcoat, $142.50; and Mrs. L. R. Christie, Danville, Ind., pocketbook containing SSO while shopping.

HEARING IS LIMITED (Continued From Page 1)

“I don’t know.” ‘‘What was it when the preferred stock issue was sold?” Debts All On Paper “I don’t know. Whatever I owed was paper I had Indorsed and sold.” ‘‘Do you know how many banks you had sold paper to in January, 19217 V “I don’t know.” "Were there as many as twenty?” “I cannot say ” “Have you any idea how many?” "I haven’t any Idea?” ‘‘Before you were elected, had you offered banks any cattle paper?” ‘‘Yes, sir.” “Can you tell us what banks purchased the paper?” “No, sir.” ‘‘After Jan. 1, 1921, did you offer any paper personally?” “I think I did, yes, sir.” ‘‘W r as the approach made through letters?” ‘‘By personal contact and some letters.” “Can you state at this time how many banks hold your paper?” “I don’t know offhand.” Quizzed on Note Dates Sammons then took up, one by one, the obligations of the Governor to various banks. He showed, in each case, that the loans were made since McCray became Governor. He also endeavored to bring ou the type of paper held by the banks. In some cases, McCray failed to remember, and in others, he said the paper consisted of notes signed by himself or signed with the names of partnership of which he was a member and indorsed with his name. Summons next took up McCray's indebtedness to the First National Bank of Brownstown. "In what form was that indebtedness of $5,000?” Sammons asked. “Indorsed paper,” the Governor replied. “How were the negotiations conducted?” , “By mail.” “What notes did they have?” “A. Herriman & Cos., $1,000; Reinhart & Cos., $1,500: J. L. Morrison & Cos., $2,500." “What representations did you make to obtain this loan?” Attorneys for McCray objected to this question. Referee Sheridan sustained the objection. Referee Limits Inquiry Sherldan said: "The only questions In which this court is Interested are Governor McCray's occupation, whether he was a farmer engaged in tilling the soil, whether he committed an act of bankruptcy at a time when he was insolvent. All we want to know is the amount of the indebtedness and when created; whether the money was obtained In transactions that were fraudulent or immoral Is not relevant. It is not pertinent here to inquire whether what he did waa criminally or morally wrong." Sammons said the reason for the question was to show that a man en*. gaged in placing $2,000,000 in loans could not give a great deal of time to farming. Sammons then asked McCray: "Did your letter to the bank (First National Bank of Brownstown) offer cattle paper as security?” "Yes.” "Were the notes of persons engaged in cattle-raising?” After some hesitation, McCray answered: "No. But I considered the notes good and I thought It made no difference as to their business." "Were the proceeds of this loan used in your business?"

Proceeds Used on Farms "They were used in carrying on the business of my farms. Ninety-five per cent of all my activities was with | farms and allied farm industries.” Sammons then took u. McCray's | indebtedness to the Studeb&ker Bank of Bluffton. Ind., the amount of which was not stated; the Trust and Savings Bank of Boonville, $3,250; the First National Bank of Burnettsville, $3,000, and the National Bank of Canneiton, $5,000. McCray said the proceeds of all these loans were used “in general, for farming purposes,” although he was unable to state specifically where the money went. Sammons then - ead in evidence a letter dated Jan 10. 11*23, from McCray to the National Bank of Cannejton. The letter said it was the Governor’s custom to take paper for cattle he had sold when investigation showed that the notes were good. These notes, he said, were in amounts from SI,OOO to SIO,OOO, and he asked the bank whether It would take some of the paper. After deep study of the letter, McCray's attorneys admitted it without objection. One of the notes taken by the bank was signed by ‘he Morgan County Stock Company. "What Is this company?" Sammons asked. Shares ITofitw, If Any! "It is a farm near Mooresville that I operate under the name of the Morgan County Stock Farm Company," McCray replied. “It is operated as both a farm and a cattle farm. The manager draw r s a salary of SIOO a month and a share in the profits, if any.” This answer occasioned a ripple of laughter through the room. "Is it a corporation?” Sammons continued the questioning. “No; a partnership,” the Governor answered. "Who wrote the signature to that note?” "I did." In order to shorten the procedure, Sammons then grouped all the rest of the indebtedness listed by McCray and asked him for what purpose the money was used. With a few exceptions, it was used for the purchase or operation of farms, McCray replied. J. L. Morr.son, former employe of the building and grounds department at the State House, whose name is signed to various McCray notes, formerly was in the real estate business in New' Orleans, the Governor testified. He said all the notes with one or two exceptions were signed by Morrison h.mself and that McCray s gned Morr.son's name to renewal notes. "Morrison was a partner of mine for seventeen years,” McCray said, “Asa matter at fact. Morrison failed In the rubber business in New

Orleans ten years ago.” Sammons remarked. Had Some Reverses "He had some reverses, but he still has property,” the Governor said. He said Morrison left the employ of the State about Oct. 1. A great deal of difficulty was experienced during the hearing in determining what McCray did ( with the proceeds of his numerous loans and what part of the so-called cattle paper sold to banks actually was received by McCray in exchange for cattle or for farm products. McCray said in answer to numerous questions that the general purpose for which he used the money he obtained from banks was for the purchase and operation of farms. He testified that the officers and directors of the Discount and Deposit | State Bank of Kentland, of which McCray formerly was president, had taken a total of $48,552.98 of his notes from the bank and had replaced them w r ith their personal notes. The witness then declared a great deal of the money he had obtained went into in- | terest payments. “What other items were there that did not go into farms?” Sammons asked. Chicago Taxes Paid “Part of the moneji went to pay taxes on an apartment house in Chicago,” McCray said. The Governor then, in answer to j questions, listed \a number of banks, most of them in Indianapolis and Chicago, with which he dealt before he became Governor. He said he owed ! the Continental and Commercial Na- i tional Bank of Chicago and the Chi-1 cago Trust Company more before he i became Governor than he owes i them now. REORGANIZATION IS APPROVED BY NITRIDE Plans Being IMsoussed by Anderson Pollings Subsidiary. Reorganization plans being discussed by stockholders and creditors of the Anderson Foundry and Machine Company, R. L. Dollings Company subsidiary, at Anderson today, are satisfactory, Bert Mcßride, Bollings receiver, said today. Mcßride attended a meeting at Anderson Monday. Winfield T. Durbin of Anderson is receiver for the Anderson Company. Mcßride said he would go to Anderson again late today. The Anderson and four other Dollings sulisidiaries in Indiana are operating satisfactorily. Mcßride said. YOUTH SEEKS EDUCATION Studies in Europe Interrupted, Immigrant to Enter I. U. Determined to continue the medical education that he found Impossible to get m Europe during the past year, John S. Stanley, who came to America and Indianapolis when 14, will re- ; ente*' Indiana University next semes- : ter. Stanley, after visiting his parents in Roumania, entered Cluj University in Roumania to study medicine. The school was closed following dissension between Christian and Jewish students. John Ferguson, paymaster and purchasing agent of the Indianapolis Union Railway Company, is assisting Stanley.

DEATH INQUIRY STARTS I Coroner to Review Facts in Fatal Accident. Coroner Paul F. Robinson today started an investigation into the death of Alexander Owens, 74. colored. 526 | Leon St., who was fatally injured Nov. | 17 when he was struck by an auto | J riven by George Hudson, Lafayette, | Tnd., as Owens and his son, Albert, 11, | were crossing Georgia St., police said. ; Hudson w-as not arrested. Owens died I from shock at city hospital Sunday, : Coroner Robinson said. STATE CONSIDERS SUITS Ora J. Davies Askked to Uring Up Matter of SIOO,OOO “Loss.” Attorney General U. S. Lesh today asked State Treasurer Ora J. Davies to bring before the State board of finance the matter of suing several defunct banks for State deposits aggregating nearly SIOO,OOO. The Discount and Deposit State Bank of Kentland, of wh ch Governor McCray was formerly president, has $90,000 in State money. Lesh said Saturday he would bring Immediate action to recover the depos ts. He told Davies today he would bring suit if urged to do so. Oil Firm Receiver Asked A petition for a receiver without notice for the Central Exploration Company, a Marion County oil development corporation, will be heard late today before Superior Judge T. J. Moll. The suit was filed by Charles W. Mann on an account of $246.54. He alleges the company has been insolvent for a long time, and is not producing enough oil to meet expenses. All the company’s holdings are in Marion and Grant Counties. The defendants could not be reached for a statement. Civic Club Seeks Members. Drive for members of the newly formed East Th:rt eth St. Commun ty Center was begun today. A meeting was held Monday night at the Sutherland Presbyterian Church, TwentyE ghth and Bellefontaine Sts. O T. Linting is chairman of the membersh p commit'ee. The center will affiliate with the city federation VVomaji Charged With Attack Mrs. Marie Berry, 30, of 1209 N. Illinois St„ today entered her husband’s grocery store at 549 N. Senate Ave., and after knocking down Miss Rose Ingles, 30, of 213 W. North St., a clerk, threatened her with a butcher knife, pojice said. Mrs. Berry was charged with assault and battery and drawing dangerous weapons. • Boy’s Body Is Identified by United Frets NEW YORK, Nov. 20.—The body of a 5-year-old boy found toda,y in a cel lar in the poorer section o:' New York was positively identified as thkt of Irving Uickelny. Irving disappeared from his home on Oct. 94. \ 7

WANT JURORS IN BLUE LAW CASE AT FRANKFORT Trial Is Delayed Pending Selection of Men. By United Pre.et FRANKFORT. Ind., Nov. 20.—The entire morning today was spent in trying to obtain a jury here to try the case of John Miller, owner of a garage, on charge of operating his place of business on Sunday. Miller, with twenty-two other busi ness men, was arrested on a charge of violating the blue law edict of Mayor oßbert Keene when they opened their places of business. NAME HOYLE’S SUCCESSOR Battalion Head Goes to Assist Chief O’Brien. The hoard of safety today concurred in recommendation of Fire Chief John J. O’Brien for promotion of J. Harry Johnson, battalion chief to the position of first assistant chief succeeding the late Simeon Hoyl. Captain William Steinhauer, of Station 30, was confirmed as battalion chief. Matthew Maloney was made chauffeur and Harry Duncan and R. C. Wallace were made substitute firemen. The trial of Patrolman Robert John son was postponed until next week. AUTO GOES ON WARPATH Farmer Injured When Chased Across Street by Machine. By United Prene ELIZABETHTOWN, Ind., Nov. 20 —Abraham Anderson, a farmer, was badly injured here today when his auto chased him across the street and knocked him aga.nst the front of a hardware store. He cranked the machine in gear. He was cut about the head and suf sered severe body bruises. MACARONI K*’NG SUCCUMBS By United Pecan WAUKEGAN, 111.. Nov. 20—Frank W. Foulds, macaroni king, died in a hospital today after a blood trans fusion operation failed. He was 77 years of age. He is survived by his widow, a son. Coburn S. and a daughter, Mis, R. E. Ryan. RusseH Sawyer Made Receiver Russell J. Sawyer, secretary of the Fletcher Savings and Trust Company, has been appointed receiver for the Automatic Control Company, a local firm organized to exploit railroad safety devices invented by Edward J. Sftiegeimeier, 1446 Prospect St. The right to manufacture the devices Is tied up in litigation on a suit on contract. Antitoxin Use Is Wide More than 5,000,000 units of free diphtheria antitoxin were distributed in Indiana during the last fiscal year. Dr. William F. King, secretary of the State board of health, announced today. Forty-four counties availed themselves of the free antitoxin law. Tippecanoe County used 561.000 units? The law provides for free distribution of diphtheria and tetanus antitoxin.

Children’s Books Presented Frederick Melcher, former resident managin geditor of the Publisher’s Weekly, New York, is collecting picture book to be given to the special children's library. Riley Memorial Hospital, In honor of his son, John Fellows Melcher. A display of some of the books Is In the delivery’ room of the Central Library. Government Holds Up Suit Settlement of the receivership of the : “defunct” Indiana National Life Insurance Company In Superior Court Is : being held up by claims of the Fedj eral Government for $45,000 back taxes, Receiver Fred A. Sims said today. Stockholders will get sl4 for each share of stock that cost $5 originally. Christian Church Conference A conference of the Indianapolis Disciples of Christ churchefl was held Monday night at Hilllside Christian (Church, Igram and Nevada Sts., by the Christian Church Union. Sixteen chtn-ches were represented. Dr. C. IL Winders, executive secretary of the j Lubicn Fedeiation of Indianapolis, spoke. Horse Paid for Twice William Edwards, colored, 943 S. Capitol Ave., was fined $3.50 today jon a charge of cruelty to animals. Edwards told the court he had bought his horse for $3.50 as a pet. When he failed to feed It. police had to shoot ; it, officers said. The cost of shooting it was $3.50, police said. Realty Firm Increases Stock Common stock of the City Builders Realty Company, 1180 Fairfield Ave., Indianapolis, has been increased from $160,000 to $5 75,000, according to papers filed with the State today. Oscar A. Jose is president of the firm. Express Employe Arrested. George Wood, 31, 2215 Terrace Ave., was arrested today on grand larceny charges preferred by the American Railway Exprjess Company, alleging Wood, as an employe, stole an electric sweeper from an express skip ment, according to police. Reichbank President Die* By United Preaa BERLIN, Nov. 20.—President Havenstein of the Reichbank died sud denly today. He recently had difficu! ties with members of the cabinet regarding Germany’s financial policy. Ohio Man Heads Grange* By United Preaa PITTSBURGH, Pa., Nov. Louis J. Taber, Bamesville, Ohio, was elected grand master of the National Grange today, to succeed Lowell J. Sherman. Irish Hunger Striker Die* By United Preaa DUBLIN, Nov. 20.—Dennis Berry died in Newbridge interment camp today after being on a hunger strike for 34 days. Gophers Badly Bruised By Times Special MINNEAPOLIS. Nov. 20.—Hoping to spoil the clean slate of the powerful Michigan team the Gophers have started to prepare for Saturday’s gam at Ann Arbor. The team was Badly bruised in the lowa tilt.

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