Indianapolis Times, Volume 35, Number 264, Indianapolis, Marion County, 18 March 1924 — Page 11

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RALLY IN FRANC PROVES BOON TO GENERAL MARKET Industrials Steadied by Action of Foreign Exchange Market. BEARS ARE STILL BUSY Rails Spring Into Demand Under Leadership of Southern Railway. The WALL STREET JOURNAL NEW YORK, March B.—Continued unsettlement characterized the opening dealings on the stock exchange today as a result of the program to put the bonus measure through the house. Another disturbing factor was the slight falling off in steel operations in the Youngstown district. Steel. Baldwin, Can and other industrial leaders were available in the early trading at the low levels of the current decline while Studebaker broke to a further new low for the year at 98%. Strength continued in the rail group, however. First Hour Continued recovery in francs which reached the best price of the year at 1 5.09 cents served to steady the industrial list which developed a slightly .better tone in the first hour. Rails were in good demand under the leadership of Southern Railway which at 54% had regained practically all the loss resulting from profit-taking after the run up to 55 on the announcement of the initial common dividend. Professionals were not inclined to give up without a struggle and they continued to attack various sections of the market, but the resistance they encountered was observable. Second Hour Another selling wave swept the industrial list in the second hour, depressing Baldwin to anew low on the movement at 119% and Can at 112% while further sharp declines took place in specialties like American Sumatra, preferred, which dropped 7% to 45%. Better support was forthcoming for the steels, however, under the influence of steel common, which held above the previous close, while the general industrial list was weak. Bethlehem was sustained by the favorable character of its annual report, which was one of the most exhaustive issued by an industrial corporation this year.

Noon Hour Speculators for the decline continued to offer stocks freely through the noon dealings, operating on the theory that the summoning of other Government officials in connection with the oil investigation meant that the political situation was to be kept unsettled as long as possible. Studebaker broke to a further new low for the year at 96%, but other leading industrials displayed resistance above the low points of the morning. Fourth Hour American Sugar duplicate- the year’s low at 51% in the early afternoon, but the stocks of sugar producing companies displayed a better tone due to the optimism in trade circles over the outlook. The advance of I. R. T. voting trust certificates to 24*4, anew high for the year following the resumption of the Manhattan dividend rental payments, indicates growing confidence in the efficacy of the I. R. T.-Manhattan readjustment plan. Twenty active industrial stocks on Monday averaged 96.60, off 1.42 per cent. Twenty active rails averaged 81.05, off .34 per cent. Local Bank Clearings Indianapolis hank clearing* Tuesday were $3,479,000. Bank debits were $6,503,000. Foreign Exchange By United Financial NEW YORK. March 18.—French francs, continuing their rapid recovery from the record low levels, succeeded in getting above the 5-cent level in the foreign eseitange market today. The quotation at the opening was 5.06%c for demand and 5.07 c for cables These prices represented a gain of 11 points over night. Sterling, demand. 54.28%: cables. 54.28%. Lire, demand. 4.23%c: cables, 4.24 c. Belgian, demand. 4 16%e; cables. 4.17 c. Marks. 4.500.000.000.000 to the dollar. Czecho, demand. 2.88%c; cables, 2.89 c. Swiss, demand. 17.24 c; cables. 17.26 c. Guilders, demand. 37.01 e; cables, 37.04 c. Pesetas, demand. 12.61 c; cables, 12.63 c. Sweden, demand, 26.33 c; cables, 26.37 c. Norway, demand. 13.49 c; cables, 13.53 c. Denmark, demand. 15.46 c; cables. 15.50 c. New York Money Market B'l United Financial NEW YORK. March 18.—The renewal call money rate of 3% per cent was the lowest since Jan. 5. 1923. Under large ofierir.gs. the rate later dropped to 3%. Time money market dull. Rate, 4% per cent bid and 4 % per cent offered. Commercial paper, prime names. 4% per cent; others, 5 per cent

Business News

NEW YORK. March 18. —London cables to the Federal Sugar Company say the sugar market there opened weak and feverish. The Java market is weak and prices have declined. WASHINGTON—Estimated returns from the sixty-live collection districts in the Cnited States of income tax payments for the first quarter ended last Saturday show that the collections already received amounted to $377,848,841.62. These figures. Treasury official* say. will be swelled by $60,000,000 to $75 000,000 with the definite returns available by the end of the month. CHICAGO —Notwithstanding that practically all steel now being puchased is for immediate requirement, demand continues heavy in this district. Railroads are active in the market, placing large orders for cars and heavy tonnages of track supplies to coordinate with rail orders recently placed. Producers are finding much difficulty in supplying the heavy demand for bars, being booked several months ahead Prices remain firm with no changes anticipated. In the Cotton Market Bit T ailed Financial V NEW YORK. March 18.—The cotton opened lower: March. 28.45. off 37 points; May. 28.80 c. off 29 points; July, 28.18 c. off 22 points. Local Wagon Wheat Indianapolis mills and elevators are paying $1 for No. 2 red wheat: other grade* o their merits.

New York Stocks (By Thomas & McKinnon) —March 18—

Railroads— ' Prev. High. Low Close. close. Atchison ... 981s ... 98% 98% B & O 55% 55% 55% 55’;* C 4 O 76% 75% 76% 75% C & N W Ry 50% 50% 50% 50% Erie 25 % 25 25% 25% Gt North pfd 55% 65% 55 Vi 55 % Lehigh Val. . 68 67 % 68 68 % Mo Pac pfd 37% 36% 37 36% N Y Central. 100% 100% 100% 100% North Pac... 50% 50% 50% 50% Nor & West. 121 % 120 120% ,119% Pennsy .... 43% 43% 43% 43% Southern Ry 54% . 54% 54% 54% Southern Pac 86 ... 86 86 St Paul pfd. 24% ... 24% 24% St L & S W 38% ... 37% 38% Union Pac 128% ... 127% 128% Wabash pfd. 46% ... 46 45% Rubbers— Keiy-Spring. 17% 16% 17 17 U S Rubber . 33% .. 32% 33% Equipments--Am L0c0.;.. 73 72% 72% 73 Baldw Loco .121% 119% 120% 121 Gen Elec ..223 220% 222% 220% Pullman ...117 116% 117 117 Westh Elec. 61 60% 60% 60% Steels— Bethlehem... 54% §4% 64% 54% Colo Fuel... 32% 31% 32 31% Crucible ... 59% 58% 59% 59% Gulf States.. 79 77% 78% 79 Rep I and S 52 % ... 51 % 52 % U S Steel .101% 100% 101% 100% Vanadium ..28% ... 27% 28% Motors— Am Bosch M 29% 28 29% 3C Chand Mot.. 55% 54 64 % 55 Gen Motors.. 14% ... 14% 14% Max Mot A 48 % ... 47 % 48 % Max Mot B 13% ... 13% 13% Studebaker . 98% 97 97% 98% Stromberg . 71 68 69% 70 Stew-Wamer. 82% 79% 80% 82% Timken .... 37 % 37 % 37 V* 37 % Willys-Overld 11% ... 10% 11% Oils— Cal Petrol... 24 ... 23% 23% Cosden 33% 33% 33% 33%

EARLY WEAKNESS SHOWSINGRAINS Wheat Traders Resort to Watchful Waiting Tactics. By United Financial CHICAGO, March 18.— Grains displayed underlying weakness at the epening of trade on the local Board of Trade today. Sellers took hold of wheat after the opening gong. Traders dropped baes. to the watchful waiting attitude and the market lacked sufficient support to offset liquidations I.iverpool opened higher, reporting a better t:ade especially Manitobas. Cron news from over the belt was generally favorable. Flat demand persisted In corn and this, with weakness in wheat, brought a lower opening Cables showed Improvement for all except American corn. Packing of the new Argentine crop is progressing rapidly, under favorable conditions. Oats opened on an unchanged ha* is although further reports from the Southwest showed poor progress made in seeding operations. Higher hogs had little effect cn provisions which were dominated L>y lower cables. Chicago Grain Table —March 18— WHEAT— Prev. Open. High. Low. Close, c-10-c. May .1.06% 1.06% 1.05% 1.05% 1.06% July .1.07% 1.07 Vi 1.06% 1.06% 1.07% Sept. .1.08 1.08 1.07% 107% 1.08 CORN— May . .78% .78% .77% .78% .78% July . .79% .79% .79% .79% .79 % Sept. . 80% .80% .79% .80 .80% OATS— May . .47% .47% .46% .47 .47% July . .45% .45% .45 .45% 45% Sept. . .42% .42% .42% .42% .42% LARD— May. 11.10 11.10 11.07 1107 1107 RIBS—•May ... .... 9 65 9.66 RYE— May.. .67% .67% .67% .67% 8t % July.. .69% .69% .68% .68% .69% •Nominal. CHICAGO. March 18.—Car lot receipts: Wheat. 34; com. 311; oats. 62; rye, 13. Grain Briefs CHICAGO. March 18.—The quicker grain exchanges and producers get together, the sooner problems confronting both will be solved. Legislation cannot accomplish this end, a leading expert declared. Ths situation abroad has improved, with Europe getting good supplies lrom Argentina and other countries, while the United States is out of line as regards export business. A large territory of the Northwest is bone dry. No rain or 6now of consequence has fallen during the fall and winter. Opportune rains must occur during spring and summer to assure a crop, as there is no reserve moisture, according to experts.

Produce Markets

INDIANAPOLIS. March 18.—Fresh eg fa. loss off. 20c; paaking stock butter. 26c: springs, over 2 lbs., 22c; fowls, 4% lbs. up. 23c; fowls under 4% lbs., 16c: Leghorn poultry. 5 per cent discourft; cocks. 13c; stags, 17c: capons. 8 lbs. up, 28c; young tom turkeys. 12 lbs. up. 24c: young hen turkeys 8 lbs. up. 24c; old tom turkeys. 18c; ducks, 4 lbs up, 18c; geese, 10 lbs. up. 14c; squabs, 11 lbs. to the do*., $5.60; old guinea*, doz.. $4.50. Indianapolis creameries are paying 52c per lb. lor butterlat. CLEVELAND. March 18.—Butter—Extra In tub lots. 50% ® 52%c; extra firsts. 49 % or 51 %c: first*. 47 % © *8%o: packing stock. 25©30c: standards. 49 % 051 %c: prints, lc extra. Eegs—Fresh gathered northern extras, 25c: extra firsts. 24c; Ohio first*. 23c; western firsts, 23c. Poultry—Live fat fowls. 28c: springer*. 20 0 27c: Leghorns. 25@26cT roostets. 17 018 o: geese. 21 0 22c; heavy white ducks. 28 030 c; light. 24 ©2sc; medium fowls. 24c: turkeys. 28c: stars. 19© 20e. Potatoes—Michigan round whites, $2 © 2.25: Ohioa. $1 © 1.50 per bushel; Minnesota white, $1.3001.50; New York, $2.50 02.65 per 150 pounds. CHICAGO. March 18.—Butter—Receipts, 15.416; creamery extra. 46%c; standards, 40%c; firsts. 45©46%c: seconds. 44© | 44 %c. Eggs—Receipts—2o,674: ordinary i firsts, 19% 0 20c: firsts. 21%©21%c. Cheese—Twins, 20%@20%c; Young Americas. 21c. Poultry—Receipts, 4 cars; fowls, 24%c: ducks. 2fec; geese, 18c; turkeys. 25c: springs. 30c: roosters. 17c. Potatoes—Receipt*. 311 cars; Wisconsin round whites, sl.lo® 1.35; Minnesota and North Dakota Red River Ohio*. $1.25 01.40. NEW YORK, March 18.—Flour—Dull but firm. Pork—lnactive; mess, $24.75025.75. laird —Steady; mid-west spot. sll [email protected]. Sugar—Raw. easier; refined. 0.91 c, quiet; granulated, 8.60®9c. Coffee—Rio spot, 15% ©l6c: Santo* No. 4. 20 % 0 21c. Tallow —Weak, special to extra. 7% 07%e. Hay —Steody; No. 1. $1.50; No. 3. 51.20 01.30. Dressed poultry—Firm: turkeys. 20®36c: chickens, 22046 c; fowls, 18031 c: capons, 28© 45c; ducks. 20028 c; ducks, Ding Island, 18031 c. Live poultry—Steady; geese. 20 @ 21c; ducks, 15®36c: fowls, 25 0 26c; turkeys. 30©4Cc: roosters, 12c: chickens. 25035 c; broilers, 45060 c: ca- 1 pons 25040 c. Cheese—Easier: state whole j milk, common to special. 16© 25c; lull j skims, 5© lie: choice to specials. 12019 c. j Bu.ter—Weaker: receipts, 14,356; creum- ! try extras. 48c; special market. 48% ©49c: i State dairy tub*. 42@47%e; Danish. 48% •I 49c: Argentines. 43-a 46c. Eggs—SLsdv: : r-celpts, 35.769: nearby white fancy, 34% t 0 36c: nearby Stem whites. 27 0 34c: west- • m whites. 27 0 34c: fresh firsts. 24 % © 28c: Pacific coast, 25% ©3sc; nearby browns, 29® 30c. Dressed Beef Prices Wholesale selling prices on dressed beef. Swift * Cos.: Ribs—No. 2. 30c; No. 1,17 g. Loins—No. 2,25 c; No. 3,18 c. Rounds—--18c: No. 3.10 c. Plate*—No. 3.6 c; No. 8, 7a.

Prev. < High. Low. 12:45. close. Houston Oil. 67% 67 67% 67% .Marland Oil. 35% ... 35Vi 36 Pan-Am Pete 47% 47% 47 Vi 47 VS I'an-A Pete B 46% 45% 46 % 46% Pacific Oil.. . 60 % 49 % 49 % 49 % Pro and Ref 33% ... 33% 33% Pure Oil 23% ... 23% 23 -$t Oil of Cal 61 60% 60% 69% St Oil of N J 36% 36% 36 % 36% Sinclair .... 22 % 21 % 22 % 22 Texas Cos . .. 41% 41% 41% 41% Minings— Gt Nor Ore.. 29% ... 29% 29% lilt Nickel.. 13% 13% 13% 13% Copper*— Amer Smelt. 61% 60% 60% 60% Anaconda .. . 33 % 32 % 32 % 33 % Kennecott ... 35 % ... 35 36 Industrials— Allied Chem. 67% ... 67 67% Amer Can ..114 112% 113% 113% Amer Wool.. 73 72% 72% 72% Coca-Cola .. 65 64% 64% 63% Cont Can... 48% 48% 48% 49% Davison Chem 51 % 50% 51 %* 50% Fitra Players. 65% 65% 65% 65% Gen Asphalt. 39 37% 38% 39 Int Harvester 85% 84 86% 84% Mont Ward.. 25 % ... 25 % 25 % Sears-Roebck 88 % ... 87 % 88 % U S C I Pipe 75% 74% 75 74% U $ Ind Alco 73% 72% 73 72% Utilities— Am T and T. 109% ... 108% 129% Con Ga= ... 61% 61% Cl % 61% Col Gas 33% ... 33% 33% Shipping— Am Int Corp 20 18% 18% 19% Int M M pfd 29% 28% 29% 29% Foods— Am Sugar... 52% 51% 52% 51% Am Beet Sug 39% 38% 39% 38 Cu Cn Su pfd 66 % ... 66 66 % Cu-Am Sugar 35 % ... 34 % 35 % Punta Alegre 64% 64 64% 64 Vi Tobaecog— Tob Prod B. 59% 58% 58% 58%

CHEAP CALL MONEY IS HELP TO BOND TRADE Rise in Most Issues Is Gradual— Liberties Are Finn. By United Financial NEW YORK, March 18.—A renewal of the call money loan at 3*4 per cent and continued favorable news from France influenced a strong and active bond market during the early transactions today. While there were no sharp rises, the trend was distinctly upward. Marseilles 6s made anew high on the move at 77%, up %, Notwithstanding the progress of soldiers' bonus legislation, liberties contniued firm. In the general list Interborough 6s sold at 66, up 1%; ss. 64%, up and 7 per cent convertible at 89, up 74. Other tractions were steady. Industrials were irregular. KellySpringfield 8s were at 98%, up 1%. The coppers were steady. FARMERS CHECK CORNMOVEMENT Hope of Price Advance Prompts Action. A general disposition of farmers to withhold corn from market in the hope of obtaining higher prices if a shortage develops is indicated in the semi-monthly crop report of George C. Bryant, agricultural statistician, to the United States Department of Agriculture in Washington, made public today This disposition to withhold stocks from market, the report shows, comes in the face of a good local demand. Winter wheat and rye are beginning to green up with the approach of spring, but some fields appear to have been damaged somewhat, especially In low, ice-covered places. Heaving In some sections also is reported. Clover also suffered from alternate freezing and thawing, but timothy meadows are regarded in fair condition, as are pastures. Orchard work has progressed satisfactorily. Livestock Is reported in good condition. Temperatures for the first half of the month averaged a little above normal, with precipitation slightly deficient as to rainfall.

SLIGHT IMPROVEMENT IS NOTED IN CURB ISSUES Selling Affects Principally Industrials; Oils Stedier. By United Financial NEW YORK, March 18.—A slight change for the better was noted In the early curb dealings today, although considerable short selling was still In evidence, affecting principally the in dustrials. Oils were steadier as a rule. LANDSLIDE IS PREDICTED McCulloch Sees Wholesale Clean-Up by Democrats in Fall. By Timca Special PERU, Ind., March 18.—A Demo cratic landslide this fall vaa predeted by Dr. Carleton B. McCulloch, candidate for the Democratic nomination for Governor, in a speech hero today. Dr. McCulloch urged the nomination of Senator Samuel M. Ralston as the Demooratlc candidate for President. He spoko for the revision of the blue sky* law to prevent fraudulent, stock selling schemes. The attitude of the present public service commission was criticised. McCulloch declared in favor of a good roads program, judiciously carried out. Raw Sugar Market By United Financial NEW YORK. March 18.—Tim raw sugar market opened loner: May. 5.02 c: July. 3.60 c: September, 5.020 5.04 c: Fed ral sugar bought 15.000 bags of Cuba*, loading at %e c. ands. oil %e. This transaction unsettled the market. Cloverseed Market Local dealers are paying $lOOl2 a bushel for cloverseed. Training Camp Office Opened Headquarters for the citizens’ military training camp in Indiana have been established at 603 N. Meridian St. by Bowman Elder, recently named civilian aid to the Secretary of War. Candidates for the camp at Camp Knox, Ky., July 2 to 31 will be enrolled early next month. Aid Society Gives Dance Nearly 600 couples attended the annual dance of the Goldstein Department Store Mutual Aid Association at the Athenaeum Monday night. Receipts go to the association fund. Officers. Misses Anna Michaux, president; Agues Kehrer, secretary, and Margaret Anderson, treasurer.

THE IJN DiAJN AjuoLliS TiMM

HOG PRICES DROP ON READJUSTMENT Decline Counters Advance in Chicago Values. Hog Prices Day by Day Afar. 250-300 lbs. 200-225 lbs. 150-180 lbs. 12. 7.75 7.75 7.75 13. 7.60® 7.65 7.60® 7.65 7.00® 7.65 14. 7.60 7.60 7.60 15. 7.70 7.70 7.70 17. 7.80® 7.85 7.750 7.80 7.70® 7.75 18. 7.55® 7.60 7.55(0 7.60 7.55® 7.60 Despite the advance in the Chicago market, prices for porkers declined generally 15 cents in trading at the local livestock market today, directly as the result of readjustment of local prices with values prevailing at other leading market centers. Saturday’s and Monday’s prices at the local yards were considered “out of line” with values elsewhere, and the day’s adjustment came as a natural sequence and in the face of normal midweek receipts. In the extreme ranges the market was regarded as 10 to 20 cents lower, with the cost of most good droves averaging 15 cents lower. Trading opened on a $7.60 basis with a top of $7.70 for one load of extra fancy 260-jjound belted hogs, but coon local packers, who had the ma -'ut largely In hand, began to bid 17.55 and a fair proportion of the receipts moved at that figure. The top at $7.70 was 15 cents lower, as was the prevailing price of $7.60. compared with $7.75 on Monday, while sales at $7.55 compared with those at $7.70 on previous trading. Sows and pigs dropped generally a quarter, pigs selling down from $6.75 and sows down from $6.50. The day’s receipts touched 8,000, inclusive of forty-eight holdovers. A generally better feeling prevailed in the cattle market and prices tended slightly forward, especially on the good steers and cows, though even the common and medium butcher stock benefited by the improvement In sentiment. About 1.200 head arrived for market, but a good clearance was effected through tne activity of principal buyers. The calf market was quotably slow to 50 cents lower with tops commanding $13.50, thougii odd fancies brought sl4, while the bulk moved from $12.50 to sl3. Receipts. 900. The sheep and lamb market was regarded tea nominally steady on inactive trading, native-fed lamlis selling down from sl6 and ewes down from $9.50. Receipts, 100.

——flog*— Choice lights . $ 7 55® 7 60 Light 7.55® 7.60 Medium mixed 7 55® 760 Heavyweights 7 55® 7.60 Bulk of sales 7 60 Top 7.70 Packing sows 6 000 6.50 Pigs „„ 6 .15(11 67 5 —Tattle— Prime oom-fed steer*, 1.000 to 1.800 lbs $ 9 00010.50 Good to choice steers. 1,000 to 1.100 lbs 8.50© 900 Good to choice steers, 1.000 to 1,200 lbs 7.00© 7.50 Good to choice steers, 1.000 to 1.700 lbs 6 05® 7.50 Common to medium steers, 800 to 1.000 1b*.... 6.00© 700 —Cows and Heifers— Good to l.jrht he.p-ra $ 6 00® 9 50 Good heavyweight 7 25® s oo Medium heifers 6.00© 700 Common cows 3 00© 600 Fair cows 6.00® 7 25 Colter* 2.75© 325 Camiers „ 2 25® 3.75 —Bulls— Fancy butcher bulls $ 5 00© 6.00 Good to choice botcher bulls. s<M)@ 7 ..0 Bologna bulls 4 25© 4.75 • -Calves— Choice Teals sl2 00 ©l3 50 Good veal* 10 00© 12.00 Lightweight veals . ... 7 006. 800 Common heavies 5 00© 700 Top 13.50 —Sheep and Lamb*Extra choice lambs $14.00016.00 Heavy lambs 10.00® 13 00 Cull lambs 6.00© 9.00 Good to choice ewes >oo© 950 Culls 3.00© 5 00 Other Livestock CHICAGO. March 18.—Cattle Receipt*. 11.000; market mostly killing c!as-*-s, fully steady; killing quality lee* desirable than Monday: few fed steers eligible to exceed $10.50: early bulk. 97.75©10; $11.90 bid on choice matured DUllockb; less desirable weighty steers sold off early to $11.40; stockers and feeders scarce, firm; ve-alers 26c up: bulk early, $9 50 @lO 50 to packers. Sheep—Receipts, 16,000; market fairly active; fat lambs and sheep strong, 25c up; feeding and shearing lambs steady: early bulk- fat wooled lambs. $15.75© 16 60, some held higher: shorn lambs early. sl4® 14.75; choice weighty ewes early. $11.25; clipped wethers, f10.25; choice shearing lambs, early, sl6. Hogs—Receipts, 24.000; market active. 15@20<* up. Top. $7.60; bulk, $7.20® 7.45. heavywieght, $7.35® 7.50: medium weight $7.30© 7.60: lightweight. [email protected]. light lights. $01007.35: packing sows, smooth. 96.50 0 7.35; packing sows, rough $6.40©0.60; slaughter pigs, $4.50© 6 50. KANSAS Cm March 18.—Cattle—Receipts. 6,000; cartes. 1.000: fairly active: beef steers steady to 15c higher, bulk fed, steers, [email protected]; she-stock steady to strong" beef cows. s4©6: cauncrs and cutters, $2.50 @3.50: bulls steady: calves steady; practical top veals. $9. Stockers and feeders steady; bulk. $6 0 7.75. Ho.tb—Receipts, 8 000; 10020 c higher to shippers; 180 to 220-pound averages. $7.05 w 7.25; 130 to 170-pound averages. $6.50 07; packing sows. $6.3606.50; stock pigs. 15@2Qc higher: bulk. $5.25 '•! 5.75. Shrop—Receipts, 6,000; fairly active; around 25c higher on sheep ami lambs: Colorado lambs. $16.20; others. $15.50® 16; weighty ewes. $10.25. EAST ST. LOUIS. March 18.—Cattle—Receipts. 4,000: market for beef steers steady: native beef steers, $7.6009; yearling* and heifers, $9; cows. $4.750 5.75: canners and cutters. $2.60©3.50; calves. $11; stockers and feeders, $5.50© 6.50. Hogs—Receipts. 16,000; market 5© 10c higher; heavy, $7.3507.50; medium. 97.400 7.55; lights. $6.0007.60; light lights. $6.25 0 7.50: packing sow*. [email protected]; pigs. $5.76 07; bulk. 7.3507,60. Sheep—Receipts, 1.000; market strorg: ewes. s7© 11; canners and cutters, $5.26 07; wool lambs, sl4 0 14.30. PITTSBURGH. March 18.—Cattle—Receipts, lite; market, steady: choice, $9,750 10.50; good, $8.73 0 9.00; fair. $6,500 7.75; veal calves. sl4 014.50. Sheen and lambs—Receipts, lite; market,. steady;

M’CRAY FARM SALE TO BE INVESTIGATED State Securities Commission Inquiries Into Conditions of Transfer of Three Properties,

Sale of extensive farm lands formerly owned by Governor McCray and financed by the Warren T. McCray Farm Realty Compan, Indianapolis, capitalized at $1,650,000, was under investigation today by the State securities department, it became known. The company is owned by tne so-called “Goodrich pool.” Whether the Meyer Jviser Bank violated a provision in an underwriting contract made Oct. 24, 1921, with the company and signed by Governor McCray, as company president, was the question involved. The commission met this afternoon In regular session to consider the matter.

Marriage Licenses Herbert Primm, 2S. 2204 Martindale, tailor; Ruby Broyles. 19. 2439 N. Oxford. Edmund C. Wise, 23, 2859 Beliefontame, foreman G. & J. Tire Cos.; Lena M. Mattson, 22. 2859 BelJefontaine. William Love, 21. 109 N. Arsenal, tire builder; Mae Myers, 18 109 N. Arsenal. Elmer S. Bescher, 22. 440 Terrace, construction; Marie M. Ferst. 20. 1424 N. New Jersey. Roy O. Osborn, 35. 1930 Kentucky, laborer: Mattie Deatley 41. 278 N. Belle Vieu. Ludwig C. Peterson, 26. Columbus. Ohio, clerk; Colton. 29, Lawrence, Ind. Frank Fletcher. 14 1213 E. Thirteenth, laborer; Virgie Handley. 34. 512% Bird. Paul Mitchell. 35, 716 Middle Dr., salesman; Doeia E. Morris. 36. 702 N. De Quincy. Chester W. Hutson. 25. 45 N. Temple, bookkeeper; Mary P. Boies, 23. 51 N. Temple. stenographer. , Patrick O'Connor, 40. 20 N. Tacoma, furniture worker; Helen Craig. 50. 20 N. Tacoma. W. Warren Woods. 22. Hammond, Ind.. fitter; Marie Taylor, 26. 251 Miley. Ormanda Adams, 21. Newcastle. Ind.. inspector Maxwell Motor Car Cos.: Marguerite Beeson, 18. Clermont. Ind. Harold E. Bader, 21J 20.9 E. Minnesota, maehinest helper; Helen M. Higenbotham, 17. 1235 Roache. Steven B. Uorek. 30. 3931 N. Mozart, decorator; Ruth Pape, 19. 229 Kansas. Linden M. Edgerton. 22. 614 E. Fifteenth salesman; Doris Pickett. 23. 413 Guilford. Roscoe Pipes, 29. 920 Camp, glass worker: Mary Ford. 19. 1028 W. Vermont. Roy D. llosewinkle. 32. 1313 Oliver, salesman; Virginia Stroh. 19. 421 N. Arsenal. Marion Denny, 24, Wilkinson. Ind.. farmer: Helen Delph 18. 2323 Brookside. Elmer H. Medrow. 24. Urbana HI., clerk; Ethel Daniel. 21. 165 W. Washington. Eivadis Webb. 30. 3049 N. Dearborn, driver: Bertha Harting. 31. 173 Lockwood. Charles Stevenson. 24. Elkhart. Ind.; laborer; Clara Utz, 21. 1320 Roache. Amos D. Ayers, 59, 1249 Naomi, machines© Ida Ayers, 43. 233 N. Randolph. Births Girls Thomas and Mary Strange, 512 N. Sheffield. Harry and Elizabeth Porter, 218 N. State Cornelius and Pearl Patterson, 1309 W. Ray. Charles and Golberta Pierson. 2935 Highland Place. Daniel and Mary Calvin. 303 Toledo. Leo and Mayme Bartholomeu, 119 S Davidson. Norbert and Anna Fox, 251 W. FortySecond. Mike and Ella Grimes, 6365 Park. Pins; and Ethel Handy. Methodist Hospital. Earl and Marjorie Haley, Methodist Hospital. Herbert and Mabel De Vitt, Methodist Hospital. Robert and Marcia Murpliy, Methodist Hospital. John and Florence Rose. City Hospital. Charles and Imogene Sanderson, City Hospital. James and Helen White. City Hospital. Leroy and Maude Townsend, Deaconess Hospital. Rudolph and Marie. Jaenisch, Methodist Hospital. William and Norma Dalton. St. Vincent's Hospital. George and Gertrude Kcmo, St. Vincent’s Hospital. Clarence end Florence Aiktn St. Vincent's Hospital. Otto and Ayletn Berry, St Vincent s Hospital. Boys Albert and Irene Rhodes. 634 Agnes. P.oy and Ruth Modgiiri. 1522 Sauic.v. Robert and Bertha Shtlhorn. -1611 Cullford. Lu’her and Stella Weddell. 2537 Bellefont aine. John and M iry Hendricks. 1228 Kelly. William and Rebecca Isonogle, 2849 Shnver. Marvin and. Etta Bciscl. Methodist Hospital. Fred and Minnie Clifford. Me'hodist Hospital. Paul and Ruth Sutton. Methodist Hospital. Ear! and Susie Kirkhride, City Hospital. George an 1 Geneva Mildner. 1045% S. Keystone. Joseph and Fannie Zukan. 2339 W. Michigan. Innatz and Mary Kumstek. 771 N. Haugh. Thomas and Margaret Altcppi, 820 S Belmont. Ambrose and Eleanor Hill. St. Vincent's Hospital. Deaths Ella McGhee. 40. illy hospital, carcinoma. Marium Clifford. 79. Blufi Rd . cerebral hemorrhage. Thoma* C. Walters, 70. 1231 Trumbell, chronic interstitial nephritis. Marjorie Pauline Weaver. 11 months. 418 lowa, bronoho pneumonia. Earl li Wright, 34. Methodist Hospital, acute appendicitis Amies B.'Schlllinger. 75. 2139 N. Oxford. : strangulated hernia. Huldah Marie Fly. 29. 1826 E. Eleventh, ehrontc interstitial nephritis. Infant Reynolds. 1 month, city hospital, erys pelas. Ida Haines. 54. 322 E. lowa, carcinoma. Jani'-s WardeU, 42. city hospital, general peritonitis Elizabeth Butler Taylor. 60. 2128 E. Tenth, arterio sclerosis. Laura Alice Schofield 65. St. Vincent Hospital. chronic myocarditis. Lynel Edward Risher. 1 Methodist Hospital, chronic gartro enteritis Susa.ua Pugh. 82. 2347 Kenwood, chronic interstitial nephritis. Lynn T. M.-Carty,-24 days. 1716 Tabor, acute hepatitis. Anthony Strack. 73. 2265 S Meridian, arterlo sclerosis. Catherine Rvan 66. Vincent Hospital, chronic myocarditis. Charles Kunstok, 1 hour, 771 Haugh. premainr# birth. William Robert Engle, 7 days, 4022 Boulevard P).. premature birth. Jacob Rossalnr. 68. 926 S. Capitol, cerebral hemorrhage.

‘ROOM ON EARTH FOR ALL’ Ilahhi H. Silver, Cleveland, Talks to Hebrew Congregation, “There is room on God's earth for the Christian and the Jew,” said Rabbi H. Silver of Cleveland, Ohio, Monday night at Indianapolis Hebrew Congregation Temple. “It Is strange how every religion believes it has a monopoly on heaven. There is no crowding in heaven.” Rabbi Silver denounced the Johnson immigration bill pending in Congress. Ha cited the measure as indicating racial prejudice. prime wethers. $11011.25; good. $lO 250 10.75; fair mixed. sß® 9; lambs. sl3® 16.75. Hogs—Receipts, 12 double decks; market, steady: prime heavy. $7.7507.90; mediums, $8 100 8.15: heavy Yorkers. $8.10©8.15: light Yorkers, $707.40; pigs. $6.7507; roughs. $6.2507; stags, $3.30 04. CLEVELAND, March 18.—Hogs Receipts, 3,500; market 10c higher; Yorkers, $7.90; mixed. $7.90; medium. $7.90: pigs, $6.50; roughs. $6; stags, $4,50. Cattle— Receipts, 200: market slow, unchanged. Sheep and lambs—Receipts. 1,000; market steady; top. 16.25. Calves—Receipts. 200; market steady: top. sl4. EAST BUFFALO, March 18.—Cattle—Receipts. 175; market fairly active, steady: shipping steers, $9.50011; butcher grade, $809.25; cows. $206.25. Calves—Receipts, 200; market slow. $1.50 lower; culls to choice. $6.50 @l4. Sheep and lambs— Receipts. 1,400; market active, lambs 35c higher. sheep*soc higher; choice lamb*. sl7 017.35: culls to choice, $9.75016.60: yeariinrs. $9.50015.50; sheep, $4.60® 13. Hogs—Receipts, 4.800: market active. 15® 50c higher; Yorkers. $7.50 08.10: pigs, $7 @7.50; mixed, $808.10; heavies, $S‘ rough, [email protected]; stags, [email protected]

Actioh follows the sale Saturday of three McCray farms, two in Morgan County of 1,315 acres, and one In Hendricks County of 276 acres. According to the view of the securities’ department, the underwriting contract specifically stipulated that land cannot be sold for less than 55 per cent of the valuation listed in the contract. No transfer of land can be made without the consent of preferi-ed stockholders, the contract states. According to sale prices announced Saturday, part of the land was sold for less than 65 per. cent of the contract valuations, it is pointed out.

STOCK DEALS OF OFFICIALS BARED (Continued From Page 1) was the man who handled stocks under the name of Spaid. The committee directed Bond to get the receipts with Smith’s name on them. He said he did not take them because Smith was not a Government official. “The Spaid—or Smith —account, which may have been handled jointly by Smith and Daugherty, was a very large accou. t and I did not take all its dealings,” Bond said. “It was a much larger account than Daugherty's personal account.” Slemp Had Account Slemp had an account with John L. Edwards & Cos. On a deal in Mexican Petroleum he made $5Bl. Slemp later purchased 1,000 shares of Mexican Seaboard and sold it at a profit of about $1,434, Bond testified. Sinclair owns 25 per cerit of the Mexican Seaboard Company, Bond said. Elkins’ oil interests were heavy, Bond testified. From March 16, 1922, until November, 1923, he bought and sold extensively. Through a New York brokerage house, the West Virginia Senator on March 16, 1922, bought 8,000 shares of Smclair Consolidated stock at a cost of $302,355. He sold 7,700 shares •luring April 1923. Rouse purchased on Dec. 6, 1922, 100 shares of Mexican Petroleum “B.” Goodykoontz, former Represehtative from West' Virginia, on Jan. 1, 1922, had 800 shares of Sinclair Consolidated.

Shows Big Profit In March, Thomas Jefferson Ryan, former New York Congressman, made 4 profit of $8,645 in Mexican Petroleum. He also dealt in Mexican Seaboard to the extent of 20,800 shares, Bond testified. Former Representative Himes of Ohio purchased in December, 1922, 1,500 shares of Pan-American “B.” He sold 2,500 shares. “Did you find any account of Will Hays?” “No, sir.” Eikins made no profit on his Sinclair stcck, Bond said, and on his Pan-American Petroleum deal profited only a few hundred dollars. The record of Slemp’s account shows: Bought Feb. 25, 1922, 100 sharea Mexican Petroleum, $8,500 (later trans ferred to P. W. Slemp, unidentified). Bought altogether up to May 23, 1923, $43,640 worth. Profit, $1,434.50. Everything transferred on that date to “P. W. Slemp.'' Name Is Transferred Examination of the Daugherty ac count showed he operated under his own name from Nov. 7, 1921, to April 18. 1922, when jthe account was transferred to the name of “W. W. Spaid.’’ Spaid is a partner in Hibbs & Cos., brokers who handled Daugherty’s dealings. Jess Smith, intimate friend ' of Dougherty, signed several of the receipts for this Spaid account. Daugherty bought 100 shares of Pan-American stock on Oct. 9, 1922, and sold it on Oct. 11, 1922, at a profit of $543.50. Daugherty bought on Oct. 11. 1922, 500 shares of Sinclair Consolidated, which was delivered to Hibbs & Cos. He is also believed to have purchased 500 additional shares on Oct. 27, although this transaction was not made clear on the books.

The Curtis purchase of 100 shares of Sinclair Consolidated, was made outright on Feb. 23, 1922, and delivered on March 10. This stock was still held by Curtis at the time the examination of books was finished by Bond several weeks ago. Cleveland Man Talks Price McKinney, of Cleveland, second witness, said during the time the oil committee was Investigating former Secretary of Interior Fall’s sudden wealth. Fall wrote him asking him to say he was the source of the SIOO,OOO loan which E, L. Doheny later said he gave Fall. “But you did not say you loaned it?” Walsh asked. McKinney was then excused. Henry Woodhouse, New York,, was called to the stand. He is one-sixth owner of the Chester Oil concession li Turkey. Walsh asked him to tell what he kne.v about a British subsidiary of the Doheny corporation. “The British Doheny subsidiary was founded in July, 1919,” Woodhouse said. “Its directors are big shippers In Great Britain. British Take Output "A contract was entered Into with the Doheny group whereby the British company was to have first call on the output Os the Doheny group in Mexico and the United States,” Woodhouse said. Woodhouse’s testimony was designed to show Doheny was to give oil he obtained as royalty from the United States government reserve to British consumers. “I know it was money furnished by the British government at the time the contract was signed that put Doheny back on his feet,” Woodhouse said. Woodhouse was then excused and the committee adjourned until 10 a. m. Wednesday. James G. Darden, former president o? the Mammoth Oil Company, will be called as the first witness, Senator Walsh announced. Darden is the oil man with whom Roxie Stinson testified Jesse Smith and Attorney General Daugherty en tered into negotiations. She said each sent him $2,400. Darden has proved an elusive witness.

PROSECUTION SOUGHT Federal Grand Jury Will Be Called in Two Weeks, By United Press WASHINGTON. March 18.—A Federal grand jury wall be empaneled within two weeks |o consider evidence of criminal conspiracy in the oil scandal, It was learned today. Indictments are to be sought against three persons |as the principals and several others may be involved as alleged accomplices. Grand jury action is to begin shortly after the return from the West of Atlee Pomerene and Owen J. Roberts, special presidential counsel, who have now put under way civil suits for cancellation of the Teapot Dome and California naval oil reserve leases to Harry F. Sinclair and E. L. Doheny.

Leader in Founding of Church Is Dead

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MRS. ELIZABETH S. LINN The East Street M. E. Church stands today as a monument to Mrs. Elizabeth S. Linn, one of its founders. Mrs. Linn, widow of Thomas B. Linn, former assistant custodian of the Federal Bldg., died Monday at her residence, 1109 N. Keystone Ave. She was stricken Sunday with cerebral hemorrhage. Private funeral services will be held at the residence at 2 p. m. Thursday. Burial in Crown Hill cemetery. Mrs. Linn was 85. Surviving are a sister, Mrs. Williard Davis, and five children; C. H. Linn, of Pueblo, Colo., and Fred E. Linn, Mrs. V. M. Thompson, Mrs. Maude E. Van Arsdell and Mrs. Margie F. Johnson, of Indianapolis.

THOUSANDS PAID IN LIQUOR DEALS (Continued From Page 1) ton. Senator Wheeler asked him if the total did not reach $200,000, but Orr said he could not tell. Was Fund Collector Previously Orr was asked about his connection with the plan to distribute the Dempsey-Carpentier fight j films. He added little to the commitj tee’s information on that point, but ! disclosed he acted as campaign fund coliector for the Republican party in 1920, gathering in SIO,OOO before the 1920 convention, which he gave Wili | H. Hays and Col. William A. P.oyce ! Thompson, then chairman and treasj urer, respectively, of the national ReI publican committee. Mellon will be given an opportunity ; to reply to charges made before the committee by Gaston B, Means, former Department of Justice agent. .Means testified he made an "under cover investigation” of Mellon's alleged connection with liquor deals in New York City. "We caught Mellon,” Means said. Weeks is expected to testify in connection with the aircraft case, in i which Means testified under oath he received SIOO,OOO in SI,OOO bills which he turned over to Jesse Smith. Orr said he was now in the insurance business in New York and has been secretary to ex Governor Whitman. Orr denied Jess Smith had any interest in the fight film contract and denied he ever had any business relations with Smith. “What was your interest in the pic tures?” asked Wheeler. “I had 20 per cent interest.” "What did you do for that interest?” Orr explained he gave his services in connection with censorship and publicity and after Quinby and Rickard were fined for exhibiting the pictures in New York, in arranging for their exhibition elsewhere. Knew It Was Illegal “Didn't you know it was illegal to transport the films?” Wheeler asked. “Yes.” “You raised $35,000 in New York for the ‘front porch’ campaign at Marion, didn't you?” “I raised something like that.” “You raised some money before the convention for the Republican national committee, didn’t you?” “About $10,000.” “Who for?” “Will Hays and Col. William Thompson.” “And after the convention you raised a considerable sum for the campaign and xihid it over to Daugherty, didn’t you?” “I raised some money, but I can't say as to paying it to other Cabinet members.” Never Saw Sinclair “Did you get any money from Harry Sinclair?” asked Brook’nart. “No, I never saw him.” “After the inauguration you saw Daugherty often here, didn’t you?” Wheeler resumed. “Yes.’ ’ “You met Howard Mannington?” “Yes.” “You said you went to see some New York censorship commissioners. Who were they?” “Cobb and Levinson.” Orr said he went to see the com- I missioners after Quinby had been arrested for showing the pictures before a veterans organisation on tSaten Island. Memory Fails Him “Who else did you see?” “I can’t remember.” When pressed by Wheeler, Orr said he would have to refresh his memory as he did not want to “drag in” any name whom he did not see. “Oh, yes, you want to go back to New York and fix up your story,” said Wheeler. Auto Turns Over Ted Neff, 193 C Brocdwiy, suffered j bruises and cuts about the head today when the auto in which he was riding with Charles Tichenor, 5210 E. Michigan St., turned over at Fifteenth St. and Broadway. It was struck by a oar driven by a man who gave his name as Edward Resener, Jr., Circle Theater, police say. V

M’CRAY DEFENSE * PASSES JURY (Continued Front Page 1) Gray St., employe of the Kiefer-Stew-art Drug Company. Ramsey said he had formed an opinion that might have some bearing on his verdict. He was left in the box. Questions Newspaper Accounts 1 John P. Good, Washington Township, farmer, who said he had formed an opinion as to the credibility of newspaper accounts of McCray's affairs, was excused. He was succeeded in the box by Arthur J. Randall, sec-retary-treasurer of the Henkel-Randall Printing Company. John Eglehoff. Perry Township farmer, was challenged for cause by the defense and excused, when he said he had a fixed opinion. His place was taken by William J. Ryan, 4108 Carrollton Ave., building material dealer at 205 E. Ohio St. Ryan said that he had known Governor McCray and the McCray family from childhood and that It would be difficult for him to disregard this fact, in giving a verdict. The defense left him in the box. At this point Ryan passed the jury to tiie State. The State had used none of its ten peremptory challenges, while the defense had used one. Inman asked each prospective juryman whether the fact that McCray is Governor would influence his verdict. He also asked whether the fact the prospective juror voted for or against McCray would affect his decision. He vent into detail as to each man’s acquaintanceship with State officials or other persons associated with the Governor. Utility Connections Asked He also asked each prospective juror whether he knew any one connected with the Indianapolis Water Company, or the Indianapolis Street Railway Company, or with the construction of the new State Reformatory, or with the construction of State highways. “Did any one suggest a favor to you from the Governor’s office if you should conduct yourself in a certain manner on this jury?” Inman asked prospective jurymen. Eleven men were in the jury box at the opening of the session. There was nothing to Indicate that any of them would be there by night. Twenty-one talesmen weer excused for cause on motion of the defense Monday. Neither the defense nor the State had exercised cne peremptory challenge. Each side is allowed ten such challenges. Shortly after the session opened this morning, Glen B. Ralston, real estate salesman, 2326 N. Talbott Ave., was excused from the jury because he Is a member of the bar. His place was taken by William E. Ratcliff, 3850 Graceland Ave., a commission man at the Indianapolis stock yards. John C. Hufford of Cumberland, a salesman, was placed in the jury box. Judge Harry O. Chamberlin, sitting as special judge in the case, has asked attorneys to work as speedily as possible in the selection of jurymen. Many Have Opinions v There is one enormous obstacle In selection of a jury. That is the fact that every one questioned has read in detail reports of McCray’s difficulties and there are few who have not formed an opinion. Michael A. Ryan of the defense counsel is moving in each case where a prospective juryman says he has an opinion as to the guilt or innocence of McCray that he be excused. Talesmen rejected Monday: Frank A. Lauck, sheet metal contractor, ICO4 S. Meridian St., had formed opinion. Alfred C. Baumgart, public accountant, 538 Prospect St. Opinion.

Question Misunderstood Harry Levy, shoe dealer, 1402 E. Market St., because of difficulty In understanding questions put to him. G. F. Church, farmer, Perry Twj. Opinion. Earl Hoffman, bank cashier, Bridgeport. Opinion. Frank H. Osborn, farmer, Hamilton County. Because he did not live in Marion County. J. M. Haines, salesman, 1402 N. New Jersey St. Opinion. William H. Me ck, township assessor, Oaklandon Opinion. Conrad Rust, merchandise manager, Vonnegut Hardware Company. Opinion. Arthur A. Reis. 604 S. Meridian St. Because he was not householder or freeholder. * Excused on Deafness John Taylor, Maywood, deafness. Homer H. Mendenhall, 2416 E. New York St. Opinion. William E. Russ, architect, 3015 N. Pennsylvania St. Opinion. Thomas F. Hatfield, electrical goods dealer, 1002 N. Talbott Ave. Opinion. Ward H. Hackelman, insurance, 1451 N. Delaware St. Opinion. Herman Junge, florist, Cumberland. Opinion. W. H. Reitzell, proprietor of bowling alley, 2535 N. Illinois St. Opinion. J. F. Raney, credit manager, 17 N. Gray St. Opinion. George Harris, farmer, Wayne Township. Opinion. Ralph Park, Maywood. Not householder or freeholder. John H. Rust, buyer, 2334 N. Illinois St. Opinion. Building Permits Joseph P. Kane, dwelling, 521 Eugene. $4,325. Arrhur A. Stettler. furnace, 3025 N. Canltol S2OO Arthur A. Stettler. furnace, 5025 N. Capitol, $4,500 Thomas A. Pierson, double. 813 N. Bancroft. $6,000. Thomas A. Pierson, furnace, 813 N. Bancroft, $325. D. F. Wallace, addition, 3034 Ruckle, S2OO. ' Terminal Realty Company, boilers, Kentucky and Oliver, $1,500. R. T Collings, dwelling, 3202 E. Twentieth, $3,000. R. T. Collings. furnace, 3202 E. Twentieth, S2OO. Henry Roempke. garage, 1631 Prospect. SBOO. St. Marks English Lutheran Church, ga rage. 1301 Proepect. S3OO. F 11. Shelihoru. duelling. 410 N. Euclid $5,000. R. H. Shellhorn. furnace, -110 N. Euclid. S2OO. , R. IT. Shellhorn. dwelling. 918 Riley $5,000. P. H. Shellho-n. furnace. I*lß Riley. K. H. Shellhorn, furnace, 55.;:9 Carrollton SBOO. K. ’I. Shellhorn, dwelling. 5339 Carroll ton. $3,C00 R. H. Shellhorn. furnace, 806 Kiley, S2OO. R. H. Shellhorn, dwelling. 806 Riley, $5,400. R. H. Shellhorn. furnace. 5338 Broadway, S2OO. R. H. Shellhorn. dwelling, 5338 Broadway. $6,500. Harry E. Blrley, addition, 1338 S.xShatfield. S2OO. q ■

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