Indianapolis Times, Volume 35, Number 273, Indianapolis, Marion County, 28 March 1924 — Page 17

FRIDAY, MARCH 28, 1924

FRESH RECOVERY , FEATURES ACTION OF GENERAL LIST Sharp Rebounds Lift Many Leading Speculative Issues Higher. FAILS BECOME ACTIVE Northwestern Carriers Come to Life In Impressive Fashion, The WALL STREET JOURNAL NJiW YORK, March 28. —Intimations after the previous close that the bad break In the high-priced Industrials had been due to a raid by floor traders and not by the crowd which had engineered the attacks earlier In the week caused the speculative community to believe that the rapid decline had reached Its climax In the Budden drops In Issues like General Electric, TToolworth, Com Products ,and United Fruit. This belief was *borne out by the action of the general list In the early dealings today In which Can came back two points to J. 05 on a few sales. First Hour Rallying tendencies characterized the whole market through the first hour. The rails were given an upward impulse by the splendid action cf the Northwestern group, in which aubstantial recoveries were scored by 6t. Paul preferred. Northern Pacific, Northwestern and Great Northern preferred. In the Industrials the rally was led by Com Products, which came back 2 points from Its early low. It Is expected at the directors’ meeting that either a quarterly distribution of $2.50 or a quarterly and an extra dividend totaling that amount yrill be declared on the old common pf SIOO par. Second Hour President Coolldge’s request for Attorney General Daugherty's resignation and the latter’s compliance was followed by a renewed professional attack on the whole stock market list In the late morning. Selling was concentrated on the industrial leaders like 6teel and Baldwin which were forced to further new lows on the movement and on Issues like Congoleum where the abandonment of pool operations had created a vulnerable situation. In the rail group, pressu-e was directed Norfolk & Western which propped more than five points from high.

Noon Hour Continued selling of market leaders featured the noon dealings, in which the late morning declines in ma' stocks were extended considerably Eupport, however, was sensed at certain levels and issues that gave any evidence of resiliency were abandoned by professionals as soon as the danger line was sighted. Bears tried their band in several sections, confining their operations, however, to only such stocks as had recently advanced beyond proportion to the others in tbe general list. Fourth Hour With steel common at 98 and Baldwin at 115% the tide of selling was Stemmed in the early afternoon, but the general list showed few traces of e. rally in the fourth hour, turning dull when pressure was lifted. Fisher jSody dropped to 210 off 4%, Kelsey Wheel to 81% off 6%, Dupont to 125 off 2 and General Motors 7 per cent debentures to 96 off 4. However, various industrials which had borne the brunt of the week's attacks gave evidence that the persistent bearish efforts were unavailing. Twenty active industrial stocks on Thursday averaged 92.90, off .77 per cent. Twenty active rails averaged 81.28, off .11 per cent. Local Bank Clearings Indianapolis bank clearing* Friday were g 2,781,000; bank debit* were 54.738,000. New York Money Market By United Financial NEW YORK March 28.—Call money 6 per cent. Time money quiet; trad!nr at 4% par cent. Commercial paper prim* name* *% Per cent; other names 4% per cent. Foreign Exchange By United Financlm , NEW YORK. March 28—Foretm ex chans* opened steady. Ster'lnr. demand. {4.80%; cables, $4.3C%. Franca, demand, ,49c: cables, 5.40 %c. Lire, demand. 4.83 e; cables, 4.33 %c. Belgium, demand. 4.83 c; cables. 4.33H0. Mark*. 4.500.000.000.000 to the dollar. Czooho, demand. 2.62 %o; cable*. 2.93a. Swiss, demand. 17 80a; cable*. 17.32 c. Guilders. 80 92c: cables, 80 95a Peseta*, demand, 13.16 c; cables. 13.18a. Sweden, demand, 20 43c; cables. 20.47a Norway, demand. 33.68 c: cables, 18.02a Denmark, demand, 15.83 c; cable*. 15.87a

Business News

NEW YORK. March 23.—The International committee of bankers will Immediately make the flr-t disbursement for 1923 interest on six Mexieon issues deposited under the Lamont-De La Huerta agreement. Cash for the Interest subsequent to Jan. 1. 1924. will not be paid until, th* committee has received half the minimum requirement for the current year from the Meoctcan government. Bonds of other Issues deposited will be released a* soon a* warrant shoot* have been attached and receipt* for Interest In arrears have been prepared. NEW YORK—Some Boston dispatcher *ay curtailment amour the New Ejirland oottor mil I* grow* steadily more serious and It 1* i estimated that the mill* are producing not Injpre than 00 per oent of capacity. Th* Bulla at Lowell will coaunence next month |on an operatlnf schedule of about three I days a week, the MassachnsetU Cotton Mill*. Hamilton Manufacturings Company and LLswren'* Maun tact uric* Company now beRng on a three-day schedule, while the MerlItnac. Booth and Appleton mills are lust now Eon a four-day schedule ( In the Cotton Market fcff Utrifrd Financial ■ SEW YORK March 26c—The cotton marP*t opened, rteadyi May. 20.75a UP 6 Julx. 20.05 c. up 4 point*; October. ■9.00 c. ? Cloverseed Market

New York Stocks “ (By Thomas A McKinnon) —— ——March £B—

Railroad*— Prev. High. Low, 12:45. dose. Atchison ... 98% 98% 98% 68 B A O .... 65 64 % 65 64% C& O 73% ... 71% 72% Del & Lacks. 110% ... 116% 115% Gt North pfd 50% 65 Vi 56% 65% Lehigh Val. 09% ... 08% 69% Mo Pao pfd. 38 ~, 37% 87% N Y Central.lol% i60% 100% 100% Northern Pac 51% 49% 61% 49% Nor A Wert.l27 123% 123% 125% Reading ... 04 % 63% 64 54 Southern R.y 64 % .. , 63 % 54 % Southern Pao 80% 80% 80% 85% St Paul pfd 88 86% rf7% 20% St I, AS W 88% 87% BS 87% Union Pao ..130% 128% 130 128% Wabash pfd. 45% 45 45 45 Rubber* - Kellr-Sprtnrfd 10% 10% 10% U S Rubber 81% w 81% 80% Equipment*— Amer Loco.. 72 Ba’.dw Loco .117% ... 115% 110% Gen Eieo ..216% 418 213 213 Pullman ..115% ... 116 114% Wrath Eleo. 00% 80 60% 69% Steel*— Bethlehem., 62% ... 60% 63 Colorado Fuel 81% 80% 81 80% Crucible ... 87% .. 60% 60% Gulf State*.. 70% .... 75% 73% R. Iron A 8. 48% .... 48% 48 U. S. Steel... 99% .- 98% 08% Minings— Gt Nor Ore.. 80% 80% 80% Lit Nickel... 13% .... 13 13 Coppers— Am Smelt... 59% .... 59 69 Anaconda ..83 81% 83 Kennecott ... 35% 85 85V* 85 Motors— Am Bosch... 27% .... 27% 27 Chandler Mot. 49 48 48 48 Gen. Motor*. 14% ... „ 14% 14% Max Mot (A) 45% ... M 44% 44% Max Mot (B) 13 .... 12 12^ Studebaker ... 94 63% 92% 93% Stewart-W. ..78 77% 77%

CURB LEADERS EXTEND THURSDAY’S ADVANCES Oils, However, Remain Quiet With Few Changes. By United Financial NEW YORK. March 28—Moderately active trading ruled at the opening of the Curb market today with a generally firm undertone. Thursday’s gains were quickly extended by Dubllier Condenser and Radio, American Light and Traction common, Grand Stores and Stutz Motors. Weetlnghouse Eleotirc reentered the trading after a disappearance of several weeks, opening at £9%, with & subsequent transaction at 69, compared with a previous sale at 60. No change was noted In the oils section. Prairie Oil and Gas which had S2O taken off the market price for dividend purposes, made that amount up on the initial transaction at 238. Creole syndicate opened at 4. OPENING BOND MARKET IS EXCEEDINGLY DULL Steadiness, However, Characterizes Movements in General By United Financial NEW YORK, March 28.—The bond market was unusually dull during the early trading today. —*~ United States Government Bonds were steady. Foreign bonds were t otleeably steady. Mexican 6s and certificates sold at 60. . Rails were dull, but generally firm. Teoria & Eastern Income 4s sold at anew high on the move at 31%, up more than 10 points from the low of te year. TJje industrials were Irregular, i unta Alegre convertible 7s were at 110%, a loss of %. Tractions were dull. Indianapolis Stocks —March 28— Bid. Ask. American Central Life 200 ... Amer Creosottng Cos pfd 97% ... Advance Rumeiy Cos com ... 0 v % Advance Rumely Cos pfd ... 33 80 Belt R R com 74 79 Belt R R pfd 53 ... Century Bid? Cos pfd ...... 95% ... Cities Service Cos com ...... .. •• . Cities Service Cos pfd ~ ... Citizens Gas Cos ocm 29 30 Citizen* Gia Cos pfd ......193 ... Indiana Hotel com .........100 Indiana Hotel pld ..100 ... Indiana Pipe Line Cos ... Indiana Title Guaranty C 0... 65 ... Indpl* Abattoir ptd 60 Indianapolis G.u 61 64% Indpls & Northwestern pfd.. 34 41 Indpl* A Southeastern pfd.... 43 Indpl* St Ry 63 60% Indpl* Tel Cos com 1 ...t Indpl* Tel Cos pld 90 ... Mer Pub Util Cos pfd 62 ... National oMtor Car Cos .. ... .. ... Public Saving’s Ins Cos 13 13 Kauh Fertilizer pld ........ 49 ... Standard OU of lnd 01% 63 Sterling Fire Ins 10 11 T H I A E com 2 6 T H I A E pfd 10 20 T H TV and Lt Cos pfd ..... 88 Union Trac of lnd com 4 Union Trac of lnd Ist pfd.. 1J 20 Union Trac of lud 2d pfd. .. 7% Van Camp Prod Ist pfd .... _ 98 Van Camp Prod 2d pfd ........ 80 Vandalia Coal Cos com ..... 3 0 Vandalia Coal Cos pfd ...... 7 10 Wabash Ry Cos com 16% 10% Wabash Ry Cos pfd 44 % 45 % Bonds Belt R R A 9 Y 4*. May. 1936 81 Broad Ripple s*. July. 1923. .51 Cent lnd Gas 6s. Sept.. 1931 ... . Cent Lid P Cos Cs. July. 1947 . . ... Citizens Gas ss. July. 1942.. 87% 88% Citizen* Gas 7s, serial ......101 104 Citizens St Ry ss, Mav, 1933 80% 81 lnd Coke A G os. April. 1943 90 93 lnd Hotel 6s. July, 1931 94% 89% lnd Hotel Cos 2d 6s. draw.... 100 ... Ind North 5a Oct.. 1933.... .. ... Ind Ry A Lt ss. Jan.. 1943.,., 91 ... Ind Serv Cor ss. Jan.. 1960.. .. Ind Union Trac ss. July, 1933 .. ... Indpls Ab Cos 7%. Sept., ’3l 90 , . Indpls Col ASo (Is. Feb.. 1048 90% 100 Indpls Gas os. Oct., 1952... 80 % 88 Indpl* L A H ss. April, 1940 90 ... Indpl* A Mart 5, Jan., 1932 .. 01 Indpls Nor 6s. July. 1932... 41% 48 Indpls A Nor ss. Mar.. 1923. 41 43 Indpls A 9 E 6s. Jan.. 1935. .25 Indpls S A 8 E 6s. Jan.. ’32 30 ... Indpl* St Ry 4s. Jan.. 1933.. 01% 83 Indpls T A T ss, Jan.. 1933. . 88% 89% Indpls Un Ry ss, Jan.. 1905 94% ... Indpls tin Ry 4%5. May, ’2O 95% ... Indpls Wa 6%5. March, 1963 90% 99 Indpls Water 4%s ..... 90 91 Ind Pub Ser 6s. April, 1943.. 89 % 93% T H I A E 6s. Aug. ’45 00 63 T H Tr and L ss, May, 1944 82 „ .. Un Trac of Ind os. July, ’33 68 % 61 Bank Stocks Aetna Tmet and Saving:* Cos. .103 \ _ Bankers TVust Cos 110 ... City Trust Cos 115 Continental National Bank.. 105 ... Farmers Trust Cos 200 ... Fidelity Trust Cos , .150 Fletcher American Natl Bank. 135 143 Fletcher Sav and Tr C0.....205 220 Indiana National Bank 250 262% Indiana Trust Cos .........210 222 Live Stock Exchange Back/. 190 ... Marlon County State Bankv.lso ' ... Merchant* National. Bank ...800 ... The Peoples State Bank ... 200 ... Security Trust Cos 150 ... State Savings and Trust Cos. .113 126 Union Trust Cos .....310 800 Wash Back and Trust C0...125 ._ Tank Wagon Prices (Gasoline price* do not Include State tax of 2c a gallon.) GASOLINE—Enezvee. 52c a gallon: Purol, 18.2 c: Red Crown. 18.2 c: Diamond Grs, 18.2 e; Crystal Pep, 21a; Target, 18.2 e: Silver Flash. 22c; Standollnd aviation. 23c. KEROSENE—Cryataltoe 12.7 c a rallon: Moore Ltrht. 15.5 c; \relit*, 12.70; Perfection, 12.7 c; Solvent., 85e. NAPTHA—Lion Power Cleaner*. 22 00 a ration: V. M. A P.. 23.5 c; Standollnd Cleaner*. 22.5 a— Raw Sugar Market By United Financial NEW YORK, March t$ m — raw rum QLTke| ppwiuT Ositsfr

rrev. Hlrh. Low. 12 45. close. Timken 35% .... 85% .35% Willys-Over... 10% 10% 10% 10% Oils— Cal Petrol... 25% 25 23 24% Ccsden ..... 85% NBoH 85% 85 Houston Oil.. 71% 70% 71 70% Marland Oil.. 88% 37% 37% 88% P-Arn Pete.. 47% .... 47% 48 P-.Vm P (B) 40% .... 4040% Pacific Oil.. 61% 61 61 60% Pro. A Rsf.. 81% 80% 81 80% Purs Oil ... 23% £3% £3% £B% S. OU of Cal 61% 01% 61% 61% S. Oil of N. J. 37% 87 87 % 8% Sinclair 23 £l% 21 % 21% Texas Cos 41% 41% 41% Industrials—, Allied Chem.. 05% 05% 65% 05% American C.. 104% 103% 104 103% Am Woolen.. 70% 08% 69% Cent. Leather 13 H , 13 13 % Coca C01a,... 64% ... 04% 04% Congoleum... 69 % 57 67 % 69 % Cent Can.... 47% 47% 47% 47% Davison Chem 62 % 61% 61% 61% Fam Players. 06% 05% 60% 6f>% Gen. Asphalt. 39 88% 89 887* Int Harvester 81 % 80 81% 81% Mont Ward.. 25 ... 24% 24% Seara-Roebuck 83% 62% 83% 83% US C Iron P 75% 72 72 74 75% U 8 Ind Alco 60 74 65% 60 74 06 74 Utilities— Am T and T. 120% 125% 120 127 Consoli Gsa 61% 61% 01% 61% Columbia (Taj 33 % ... S3 7* 84 Shipping— Am Int Corp 18% ... 18% JBU lot M M pfd. 20 74 26% 26% £0 % Foods—• Am Sugar... 61 ... 61 61 Com Pr0d...170% 100% 138% 109 C O Sur pfd 64% 63% 63% 63% Cub-A Bur it. 83 74 83 74 33 74 53% Punta Alegra 63 ... 627* 62 74 Tobacco*— Am-Sumafra.. 12% 13 12% 11%

NEARBY WHEAT IS SLIGHTLY HIGHER July, However, Slumps on Favorable Crop News. By Untied Financial CHICAGO, March 28.—Unerceness marked the start of business on the local Board of Trad® today. Wheat was unchanged to higher. May and July showing advances of %, while July lost ' s . Working of some American wheat for export Thursday and Indications that the situation Is slowly readjusting Itself regarding world's prices gave the nearby- month its streng’h. September was stronger because of President Coolidge's advocacy of farm relief and restoration of European trade relations. Liquidation lr. corn and absence of the moderate cash demand of Thursday weakened that'market. Heavy farm movement is expected next week. Argentine shipments are liberal. Rapid drying out cf fields Is expected to permit seeding of spring oats within a few days and, this, with steady competition by Oonnd:an grades, slowed up the oats market. Provisions maintained a steady undertone with hogs and cables. Chicago Grain Table —March 28-w WHEAT— Trav Open High. lev. Coe. close. Mav.. 1.05% 1.0 l % 1.00% 1.00% 1.01 % ,T;..V.. 1 0.1% 1 <>.!% 1 > ,1.03% Sept.. 104% 1.04% 1.03 1.03 % 104 7* CORN— Mav.. .75 % .70% -74% .75% .75% July.. .77% .77% .7.5% -.70% .77%. Sept.. .77 7* .78 .75% .70% .77 7* OATS— Mav.. .45% .45% .43% .44% .45% July.. .43% .44% .42% .42% .43% Sept .40 74 .40% .39 7* -39% .40 V* LARD— Mav 11 03 11.05 10 92 10.93 11.02 RIBS—•May. .... 0.55 9.53 RYE— Mav.. .00 .60% .05% .05% .00 July. -07 74 -08 7* .07 74 .07% .07% •Nominal. UTTTCAOO. Marrh 28.—0 r lot receipt*: Wheat, 13: corn, 75; oats. 45; rye. 7.

Grain Briefs

CHICAGO. March 28—All early seeding records in Red River Valley may be broken this sprinr, as seeding now is general m the v-illey south ol Fargo, advices from that city declare. Traders do not expect much beyond a trailing market in wheat for a while. They think the break is about over, but bulge* will be hard to maintain without aomc sensation like renewed European demand or crop scar*. Thera Is no fixde opniion regarding the corn trad*. Nearly all th* large holders have sold out, but smaller ones are holding liberal-sized lines. Wheat is rerarded a* in a weak technical position. It is futile, expert* say, to at tempt to maintain prices above a world parity in face of the big surplus. The India wheat crop will be only 90 per cent of normal, aoeoniiug to oilrlco* from there. Rust and high wind damaged the crop 10 per cent. Corn appears to be held In check by lack of new speculative buying and a limited shipping demand, rather than pressure from holders of the cash product.

Produce Markets

INDIANAPOLIS, March 28.—Fresh epvs, loss off, 19c; packing stock hotter. 25c; springs, over 2 lbe„ 23c: lowls. 4% lb*. Up. 230; fowls under 4 % lbs.. 19c; Leghorn poultry, 5 per cent discount; cocks., 14e; stags, 18c: young tom turkey*, 12 lbs. up. 24*; young hjm turkeys, 8 lbs. up, 18c; geese. 10 lbs. tip. 14c: spuabs. 11 lbs. to the doz., 53.50; old guinens. doz , S4 50. Indianapolis creameries are paying 62c per pound for butterlat. CHICAGO, March 28—Butter —Receipt*, 9.323; creamery extra. 43c; standards, 43c; first*. 41 £l4l %c: seconds, 40<W40%c. Fsy* —Receipts, 24,870 ordinary first*. 19% ffli 20c; firsts. 21 21 Vic. Cheese—Twins 20 <3 20%e: young Americas, 21 %c. Poultry —Receipts, 2 cars; fowls. 25c; ducks, 28c: geese, 16c; turkeys, 25c: springers. 28c; roosters, 17c. Potatoes—Receipts, 204 cars; Wisconsin round whites. 81.25® 1.40; Minneasota and North Dakota Red River Ohio*. $1.2301.40: Idaho russets, $2.40® 2.05. CLEVELAND. March 28. —Butter—-Extra in tubs. 47049 c; extra firsts, 40®48c: flxtß 440 45c: packing stock. £5 <42oc; standards. 4041480: print*, lc extra. Eggs— Fresh gathered northern extra, 250: extra firsts, 24a; Ohio firsts. 22 % 023 c: western firsts. 22 %c. Poultry—Live fat fowls, 27 @28o; springers, 27 0 28c: Leghorns, 240; roosters. 17019 c: geese. 210220: heavy whits ducks, 29® 30c; light colored ducks, 24 0 25c’ medium fowls, 25c: turkeys, 28o; stags. lß®2oo. Potatoes—Michigan round white, 82 0 2.25; Minnesota white*, $1.30© 1.50: New York. $2.26 0 2.35, all per 100 pound*. NBW YORK. March 28.—Flour—Quiet and firm. Pork —Quiet. Mcsb—s24.7B® 25.75. Lard—Steady; mid-west spot, $11.35 @11.43. Sugar—Raw, steady: refined, centrifugal, 0.05 c. easy; granulated. 8.40® 8.50 c. Coffee—Rio spot. lf> 15 Santos No. 4. 19 0 20c. Tallow—Easy; special to extra, 7%@7%c. Hay-4-Steady; No. 1. sls: No. 8. $11.60013.60. Dressed poultry—Firm; turkeys 20035 c; chickens. 23 @soc: fowls, 18®32c: ducks. Long Island. 23 & 20c; capons, 28 0 45c; ducks. 20@280. Lire poultry—Quiet: geese. 100 20c: ducks, 15® 34c: fowls 27®28cj turkeys. 23® 45c; rasters, 15c; chickens, 20@360; broilers, 12 all: capons. 35 ©42 o. Cheese—Dull: ■W) whole milk, common to special, 10® 2!Te: state skims, lower grades. 6® 11c. Butter—Steady: receipts. 0.352; creamery extras, 43 @43% c: special m arket, 44 %c; state dairy tubs. 38 0 43c; Danish, 44 0 44V* a: Argentines. 38®42c. Eggs—Quiet: receipts, 41A64: nearjjy white fancy, 84® 85c; nearby’a*e white*. 25®33c; western wMt|W 25

THE INDIANAPOLIS TIMES

NICKEL DECLINE SCORED BY HOGS Bulk of Good Hogs Move at $7.70 —Top $7.75. Hog Price* Day by Day Mar. 250-300 lb*. 200-276 lb*. 150-180 Tbs. 22. 7.75 7.75 7.75 24. 7.80® 7.85 780 ® 7.85 7 800 7.85 25. 7.00 7.00 7.60 20. 7.000 7.65 7600 7.05 7.900 765 27. 7.75 7.75 0 7.80 7.75 0 7.80 28. 7.70 7.70 7.70 Hog prices declined a nickel In trading at the local livestock market today when local killers reached the belief that shipping orders were not as large as on Thursday and placed bids at lower levels In tse hope of breaking Thursday’s advance. However, more outside orders than had 'been expected were uncovered and trading began on on active scale with all weights and classes commanding $7.70, compared with Thursday’s predominating price of $7.75. A top of $7.75 was paid for a few bunches of fancies, as compared with Thursday's extreme top of $7.85 and practical top of $7.80. After the opening round of trading it was discovered that shippers had taken slightly more than their normal share of the receipts of 8,000 head, Kingan & Cos. buyers having been unable to buy more than 1,800 or 2,000 head. Sows held steady in face of the slight decline at $6.75 down for averages and $7 down for tops, but pigs dropped a quarter at $7.25 for averages. The decline In pigs was attributed to a slackening in competition and a readjustment of values In line with prices prevailing at other centers. While trading in the cattle market was rather dull end listless, prices in ’he main were steady, but the clearance was slow, buyers being disposed to take thoir time in the selection of their purchases as feW good cattle were offered. About 700 head were in the pens, most of Which consisted of hi tcher grades. Slight strength was noticeable in the calf market In which several fancy calves commanded Thursday's extreme top of sl3 while tha bulk rold from sl2 to sl2 50, Receipts, SOO. An advance of $1 In the price of sheep featured that market, ewvs selling down from sll, while lambs were steady at $15.50 down. Receipts, 150. —Hop—, Choice lights 5 7 70 Light mixed 7 70 Medium mixed - 770 Heavyweights ... 770 Bilik of sale* 7 70 Top 7.75 racking ows 0 730 0 ,5 I’lS* ..... . —. 0.75 4k 7.25 —Cattle— Prime pom-fed steers, 1,000 te 1 800 lbs ..-5 9 00010.50 Good to chose* steers. 1,000 to , 1,100 lbs 8 500 9.00 Good to choice steer*. 1.000 te 1.200 U s 7 00 0 7.50 Good to choice steers. 1.000 to 1.700 lb* C. 06 0 7.50 Common to medium steer* 800 to 1.000 lbs 0.00 0 7.00 —Cows and Metres*— Good in light heifers $ 0 000 P 60 Go‘d heavyweight 7.260 8.00 Medium half rs 0 000 700 Common cows . 3.000 600 Fair cow s 1)000 7.2 > Cutters 3.760 3.28 Canner* 2.250 3.75 —Bull*— Fancy butcher bit 11c ~ S 0012 0 00 Good tu choice butcher but!*. 600 0 5.60 Bolurua bull* ~..* 4 230 4.75 —r-Calve*— Choice ra!* ?1t 00013.00 Good veo 10 0044 11 00 Lightweight r*s4 . 7 000 800 Common heavle* 5.00 0 7.U0 Top 13.00 —Sheep and t.amb*— Extra choice lamb* sl4 00(015.50 Heavy lamb* 10 004113 00 Cull lambs 0 00010 OO Good to choice eive* ....... 6 004111.00 Cull* 3.UO® 5.00

Other Livestock CHICAGO March 28.—Cattle— Receipts. 3.000: market for beef steer*, yearling*, fat she stock, buils steady to strong; unevenly higher on steers, early top matured steer*, $11; canners, cutter*, stoeker* end feeders slow, about steady; vealer* fully stoutly; bulk to pickers early, 59 50 0 10,25; outsiders paying upward to 511.60 and above for choice selected offering*. Sheep—Receipts, 14,000; market fairly active: fat lambs strong, sheep steady; feeding and shearing lamb* 16®25c up; early bulk fat wooled iamb*. $10.1016.50: soma held higher: good ohoiee clipped lamb* early, $13.76014.50: odd lots choice fat ewes early. 511.50; choice shearing lambs early. $lO. Hogs—Receipt*. 33.000: market steady to strong; top. $7.53: buds, $7.26® 7.50; heavyweight, $7.200 7.15; mediumweight, $7.35 07.50; lightweight. 57.30 0 7.55; light lights. $0 400 7 50; packing sows, smooth. $0.750 0.90; packing sows, rough, s(}.6o 4f 0.75; slaughter pig*. ss© 0 85. CINCINNATI. March 28.—Cattle—Receipts 050; market, steady; steer*, good to choice, $7.5000 75: calves, market stronger, good to choice. $lOOl3. Hogs—Receipts. 14.000; steady; good to choice packers and butchers SB. Sheep—Receipts, 325; market steady; good to choice. $7 09. Lamb*— Market weak to 60c lower; good to choice. $15.50010. CLEVELAND. March 58.—Hog# Receipt*. 4.500; market strong; Yorkers, $7 09; mixed, $7.90; medium, $7.90; pigs. $7.28; roughs, $0.25; stag*. $4 50. Cattle —Receipts, £6O; market slow, unchanged. Sheep and lambs —Receipt*. 1.000; market steady; top, sl4. Calve*—Receipts, 300; market 50c lower; top. sl3. PITTSBURGH, Mar.® 28.—Cattle—Receipts light; market steady; choloe. $0.06® 10.25; good, $7.9500.50: fair, [email protected]; veal oalvee, sl3 013.50. Sheep and lamb* —Rood .its. 3 double decks; market steady; prlifte wethers. $10010.75; good. S9O-10; fair mixed, ?7 0 8.50; lamb*. $7 014. Hogs —Rooelptit,' £5 double decks; market steady; prime heavy, 57.R007.85; medium*. sß® 8.10; heavy yorkprs, $80810; light yorkers, $7.7507.85; pigs. $7.5007.73; rough, $606.60; stags. $3.5004. KANSAS CITY, Mo., March 28.—Cattle— Receipte,. 1.000; calves, 200; all killing prices around steady; odd head of beef steers, $0.50; bulk. $7.26®8.50: beef cows, $4.50 0 0.50; top voals, SJO; stoekers and feeder* dull. Hogs—Receipts. 5,000: market strong to 100 higher; packer and shipper top $7.30; desirable 190 to 200-pound averages, $7.2007.30: packing sows, $0.35; stock pigs fully steady- bulk $0.250 0.05. Sheep—Receipts, 2,000: clipped lambs steady to 25c higher: wooled lambs steady; clipped, $14.13 @ 14.50; top wooled lambs. $36.25; whole dwethers, $11.75: fall shorn, $10.75: fresh shorn, $lO. EAST BUFFALO, March 28 JCftttle—Receipts. 225; market, active arid steady: shipping steers. $9.50011; butcher grades, $8.2509.25, cows. $300.35. Calves—Receipts, 1.606; market, active to 50a hlglteg: cull to choice, $6.5001 1. Sheep and lambs —Receipts. 3.600; market active, lambs 250 higher, sheep steady: choice lambs. slß® 17: cull to fair, $9.50®15.50: yearlings. $59.75 016: sheep. $3.50 013.75. Hog*— Receipts, 9.600; markot, slow to 3 0 0250 lower; Yorkers. $7.5007.90: pigs, $7.25® 7.50; mixed. [email protected]: heavy, $7.80© 7.00: roughs. $0®0.50; stags, $4.50@5. EAST ST. LOUIS. March 28.—Cattle Rocedpto, 1,000: market steady; native beef steers, $lO up; yearling* and heifer*. $8.25 up: cow*. $4.75@6; canners nad cutters. $3.6003.60; calves. sll. Hogs—Receipts, 13.000; market steady. 10c higher; heavies. 57 40 0 7.60; mediums, $7.40 07.75: light, $7.40® 7.75; light lights. $5.50 0 7.60; packjpg' sows, $0.4000.75: pigs, $5.7607.25; Rmlk, $7.50 07.70. Sheep Receipts, 700; market, steady; ewer s7® 11.25; canners and cuttera, $2.50®7; wool lambs, sl4 0 10 60. Dressed Beef Prices Wholesale selling prices on dressed beef. Swift A Cos.: Ribs—-No. 2,30 c; No. 1. 17a Loins—No. 2 25c: No. 3, 18 c. Rounds—--18o: No. 3, 100. Plates — No. 3, 60; No. 8. 7a . Local Wagon Wheat Indlanapoll* mill* and elevator* are pay- & * *** "*?•

Marriage Licenses Harold E. Williamson. 1, 4912 Untveralty, electrician: Helen M. Dufiy, 18, 702 N. Belle Vieu, office work. Harold S. Price, 28. 124 B. New York, manager; Leola F. Rice, 19. 124 E. New York. . William E. Lewis, 40, Stllesville, Ind., Saperhanger; Cora M. Thompson, 33. 807 Capitol. Luca* F. KrtnkeL 23. 627 N. Pennsylvania, dental student; Elfreda Do Lora, 20, 2014 Paris stenographer. Wilbur J. Aults, 84, Zionsyllle, Ind. farmer; Laura Stelhorn, 25, 1822 Commerce. Alfred H. Roasner, 29. 80 8. Dearborn, rallioad alerk; Sarah J. Welch, 22, 83 S. Dearborn. V Loßoy B, Miller, 49. 5020 Broadway, railroad condnctor; Gertrude Quick, 41. 404 N. Riley, stenographer. Thomas Craig. 17, 840 W. Twenty-Sev-enth, porter; Louise Grady, 17. 647 Bright. Births Boy* Robert *nd Elizabeth McCreary, 1125 River. Joseph and Annie Flynn. 851 N, Rural. Christopher and Martha Moore, 1751 Morgan. Alfred and Lillie McCreary, 2443 Pierson. Phillip and Eva Johnson. 1030 Goodlet. Eugene ‘and Nora Ceben, St. Vincent Hospital. e” Charle* and Sarah Hope. 130 N. Bradley. Warren and Helen X'ayu*. 1010 Rembrandt. Girl* Robert and Hazel Myers, 515 Stevens. Charles and Josephine Rice. 025 Chase. John and Olive Marren, 1240 Windsor. Deaths James Rigney, 45, Lon? Hospital, peritonitis. George Goth, 77. 8242 Baltimore, cerebral hemorrhage. iMary A. Menges, 64. 1443 Bell* Yleu, chronic myocarditis. Nela C. Pugh. 03. 4144 Broadway, chronic Bright s disease. Mary Hannah Stanton. 78, 1452 N. Pennsylvania, chronic arterio sclerosis. Mary E. Stevens, S3. 2804 Btuart. broncho pneumonia. Caroline 3. Fltnn, 00, 827 S. East, uremia. Albert Paul Corbett. 5 months, fit. Vincent Hospital, broncho pneumonia. Elbert James Corbett. 5 months. St. Vincent Hospital, broncho pneumonia. Elijah Gaston Cullings. 68. 654 W. Twen-ty-Ninth. apoplexy. Sarah Owens. 60. 702 W. Tenth, mitral regurgitation Charles E. Lea, 87. 1810 Howard, broncho pneumonia. Viola Brooks, 58. 90S Coe, arterio sclerosis. Nathan A. Johnson, 31. 700 Fayette, endocarditis. Albert M. Pitman, 75, Central Indiana Hospital, mitral Insufficiency. John W. ltavlin, 47. Central Indiana Hospital. cerebral hemorrhage. Patrick Stundon. 87, 623 N. Jefferson, broncho pneumonia. Dorthea Agnes Nlckutn. 8. 1231 W, Ray, acute endocarditis. ■ MINISTER IS NAMED Drake University Presiie-nt Becomes United States Counsel to Poland. B’s Vnitrd Press WASHINGTON, March 23.—President Coo lid ge today nominated Alfred J. Pearson, president of Drake University, of Des Moines, lowa, to be American minister to Poland. Pearson succeeds Huprh E. Gibson, who recently wa.s named American minister to Switzerland, succeeding Joseph C. Grew, named undersecretary of stale.

As all of these debentures have been subscribed for, this advertisement appears only as a matter of record, $35,000,000 Western Electric Company Incorporated. Twenty-Year o% Gold Debenture Bonds To Bo Dated April J, J92S To Mature April J, 1944 Interest Payable April 1 and October 1 in 2>exo Tortt City. Coupon Bonds In Per ominationa of SI,OOO, SSOO and SIOO, Reglsterable as to Principal. - Folly Registered Bonds in Denomination* of SI,OOO, $5,000, and $10,006. Coupon and Registered Bond*, and Several Denominations* InterchangeaMe. Redeemable, at t\o Option of fks Company , In Wholes But Not In Part, Vpen Sixty Days Notice, $n April J, 1934, or Interest Date Thereafter, at the FoUoroing PriceS, with Accrued Interest: If or on Prior to October 1, 1940, at 105 c A t and If on or. ‘ Subsequent to April 1,1941,at Par. The Seaboard National Bank of tha City af New York-, Trustee, - Charles (7. Dubois, Esq., chairman sf the beard es directors and president of the company, has sum* tnarized as follows his letter to us stating the particulars in regard Jo this issue: The proceeds of these debenture* are to bo used to provide funds for tha construction of a manufacturing plant at Kearny, New Jersey, and to provide additional working capital for the company’s Increasing volume of business. The growth of the company** business Is indicated by the following figures, showing tha sales billed and the net income available for Interest charges (before deducting Federal Income and excess profits taxes, but after deducting all other expenses and charges* including adequate amounts tos do* r predation) during the past eight years: — l **

Net Income turcUlable for Interest charges in 1028, u stated above, amounted to more Chan 6.40 times the annual Interest roqulrements of $1,750,000 an these debentures, which will constitute the ■ole funded debt of the compcny. The outstanding Junior securities of the company consist of $34,079,600 7 per cent cumulative preferred stock, and 500,000 shares of common stock without par value. Dividends on the common stock of the company and of Its predecessor company, as outstanding from timo to time, have been paid at the rate of not less than $8 per share annually since 1880, and at the iate of $lO per share annually since 1917. Based on tho present market price for the preferred stock, and on a valuation of $l5O per share for the common stock, an equity of more than $103,000,000 Junior to these debentures is indicated. The balance sheet of the company a? of March 1, 1034, after giving effect to this financing, shows net assets, after deducting all liabilities except these debentures, in excess of $145,300,000, of which over $105,000,000 consist of net working assets. The Indenture under which these debentures are to be Issued to contain a covenant that the coatpony will not hereafter mortgage or pledge any of its property without securing these debentures equally and ratably with any other Indebtedness secured by such mortgage. THE ABOVHE DEBENTURES ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO ISSUE AS PLANNED, AND TO APPROVAL BY COUNSEL OF THE LEGALITY, AT 9 6y 2 % AND ACCRUED INTEREST, TO YIELD OVER ■■ * a Subscription boohs trill be opened at the office of J. P. Morgan 6 Cos., at 10 o'clock a. m. t Thursday, March 27, 1924. Tha right is resenied to reject any and all applications, and also, in any case, to award a smaller amount that applied for. The amount due on allotments trill be payable at she office of J. P. Morgan <s> Cos., in New York funds, the date of payment to be specified in the notices of allotment, against delivery of interim receipts or temporary debentures, exchangeable for definitive dtben* turcs when prepared. /. P. MORGAN & CO. KUHN LOEB & CO. KIDDER. PEABODY & CO. FIRST NATIONAL BANK , New York THE NATIONAL CITY COMPANY BANKERS TRUST COMPANY, New York GUARANTEE COMPANY OF NEW YORK HARRIS TRUST & SAVINGS &4NK LEE, HIGGINSON & CO. March 277, 1944.

DAUGHERTY QUITS UNDER PRESSURE (Continued From Page 1) ting the Department of Justice with files from the department, relating to litigation and of the bureau of investigation. Not Compatible With Interests "You represent to me and to the committee In your letter that lt would not be compatible with the pubilo interests to comply with the demand and conclude your letter with a statement that I approve that position. "Certainly I approve the well established principle that departments should not give out Information or documents where such a course would be detrimental to the public Interests and this principle Is always peculiarly applicable to your department, which has such an Intimate relation to the administration of Justice. 1 "But you wiU readily perceive that I am unable to form an Independent Judgment In this instance without a long and Intricate investigation of voluminous papers, which I cannot personally make and so I should be compelled to follow the usual practice in such cases and rely upon your advice os Attorney General and head of the Department of Justice. Becomes Interested Party "But you will see at once the committee Is Investigating your personal conduct and hence you have become an Interested party and the committee wants papers because of a claim that they disclose your persona) dconduct of the department. ‘ Assuming that the request of the committee is appropriately limited to designated filqs, still/the question will always bo the same. In view of the fact that the inquiry relates to your personal conduct you are not in a position to give to me or the committee what would be disinterested advice as to. the public interest. Have Personal Interest "You have a personal interest In this investigation which is being made of tha conduct of yourself and your office which may be in conflict with your official Interest as the Attorney General. I am not questioning your fairness or integrity. "I am merely reciting the facts, that you are placed in two positions, one your personal Interest, the other your office of attorney general, which may be in conflict. How can I satisfy a request for action in matters of this nature on the ground you, as

Year Hn.lafl Dec. 81. 1618 1917 1918 1919 1020 1921 1022 1923

attorney general, advise against it, when you, as the individual against whom the inquiry is directed, necessarily have a personal interest in it? I do not see how you can be acting for yourself in your own defense in this matter and at the same time and on the same question acting as my adviser as attorney general. "These two positions are incompatible and can not be reconciled. I am sure you will see that lt is necessary for me to have the advice of a disinterested attorney general in order that I may discharge the duties of my office in this and other matters. Regret Situation Arises "I feel certain you will know how deeply I regret that this situation has arisen. It only illustrates the difficulties which are certain to occur in every certainty of embarrassment and your inability to perform satisfactorily the duties of Attorney General under present conditions. You will readily understand that it is not now my intention to prejudge the issues which are to be developed in this investigation. I recognize that you are entitled to a full and fair hearing. But as there is no way by which you can divest yourself of the interest you have personally in the investigation, I can see no way but for you to ietire as Attorney General and I am therefore compelled to request your resignation. "Very truly yours, "CALVIN COOLIDGE." DAUGHERTY GOES TO RESORT ■> Bock Becomes Acting Attorney General for Present. By Vnttcd Prrst WASHINGTON, March 28.—Former Attorney General Daugherty left ; Washington for Atlantic City immediately after resigning from the Cabinet today. Solicitor General James M. Beck will become act!ng* Attorney General, ! according to statute, until a eucces- ' sor to Daugherty Is appointed by the President. Daugherty intends to rest for a few days in Atlantlo City before return- ! ing to close up a few personal matters. Beyond that he has formulated no definite plans. $35,000 FOR JUDGESHIP New York Man Tells of Offer to Secure Appointment for Cash. By United P~ent WASHINGTON, March 28.—Former Representative Van Voechten Alcott of New York today told the Senate committee investigating the Da partment of Justice that Wayne Wilson, a member of the national Republican Club two years ago, offered to secure his appointment as a Federal Judge for $35,000. Olcott said he rejected the offer and

Sates *tna % $108,988,677s 100,840,339145,226,119 180,722,489£06,111,680 189,704,814 210,941,004 205,177,122

WAR DECLARED t ON SHOPLIFTERS Protective Association Asks Help of Stores, "We are going to keep ester shoplifters until we clean up this situa> tlon,” declared W. E. Balch, manager of th eStores Mutual Protective Association, today, in commenting on arrest by association operatives of two women. Articles valued at $1,600 were taken from (Jowntown stores here and at Omaha, Neb., officers say. "Every member store in the association is thoroughly patrolled every minute of the day. "We’re going to put a stop to this thing by sending every one we catch ever the road.” The women arrested by QuigleiyHyland detectives gave names a* I Hazel Mooney, 27, and Jeanette Mooney, 22, both of 13 Wellington Apts., 25 W. Michigan St. felt lt was his duty to Inform the earnmittee of the Incident. So far as he knew, Olcott said, Wilson did not represent any one in the Department of Justice. Olcott is a Republican. He served two terms in Congress, 1904-1908, from the Fifteenth New York district. "When this man came to me and told me my name was prominently mentioned for a place on tbs bench, I was naturally flattered,’* said Olcott. "Wayne Wilson was the man,** Olcott repeated. "Did he represent any ono else?" asked Senator Jones. "Hp said he was representing *tha boys.’ ” "Did he mention the names of *th boys?’ ” fSl Indianapolis Driver Held By Times Special ROANOKE, Ind., March 23.—When farmers observed a motor truck careening down the road near here they told Deputy Sheriff Luenberger. “Steering trouble," Leuenbergejj remarked as he slated P.oscoe Ashley, 324 E. Sixteenth St., Indianapolis, on a charge of Intoxication. American Telephone&Telegraph Cos. 138th Dividend The regular quarterly dividend of Two Dollars and Twenty-Five Cents per share will be paid on Tuesday, April 15, 1924, to stockholders of record at the close of business on Friday, March 14, 1924. H. BLAIR-SMITH, Treasure?.

Net Tneetas $3,802,299 4,592,887 0,681,047 6,1193210 8,728,864 10,436,855 9,804,258 *1,208,883

17