Indianapolis Times, Volume 35, Number 283, Indianapolis, Marion County, 9 April 1924 — Page 10

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HEAVY SELLING IN INDUSTRIALS AFTER REPORT OF DAWES Studebaker Drops to Within Half Point of the Low for the Year, AMERICAN CAN SLUMPS Other Leaders Heavy While Active Rails Are Also Under Pressure, The WALL STREET JOURNAL NEW YORK, April 9. —Official publication of the Dawes report which was found to follow the lines of forecasts which leaked out over the last three or four days, was followed by heavy selling directed principally against industrials on the theory that the good news was out. Studebaker broke to anew low on the week's decline at 91*4, where it was within a half of the year's low American Can also dropped to within fractional distance of the record for 1924 low, when it broke to 1029* and similar heaviness was exhibited by other industrial leaders wnile active rails were also under pressure. First Hour Prices developed a slight hardening tendency in the first hour, when the volume of dealings showed disposition i to fall off as the decline proceeded, j Bull speculative interest was at a low ebb in the main body of stocks and the principal attention was devoted to the special movements. Woolworth broke 13L4 points to 308 on the announcement that the present stock would be split up on a four for one basis and the new stock placed on a $3 dividend rate. Second Hour Better support characterized the main body of stocks in the late morning. This development brought about | a general recovery as the absence of buying by constructive interests has been one of the most discouraging features cf the recent sessions. Professionals have been given a; free hand hammering stocks on any; sign of weakness. There are more bears in the Street than last spring and according to many commission bouses the public has been selling stocks short. This huge hear ma-: jority may mean a sharp rally at any time according to floor traders. Noon Hour Woolworth common i rallied somewhat, following its 30 point break when the announcement of the plan of four for one exchange and the dividend policy of $3 on the new stock instead of the *B.OO basis now being paid, was announced. Improved support for the main "body of stocks which was present during the second hour continued throughout the noon hour trading. Buying by constructive interests continued tending to make the recovery* slightly stronger. Twenty average industrial stocks Tuesday averaged 92.85 off .18 per cent. Twenty average rails averaged 82.17, off .63 per cent.

Local Bank Clearings Indianapolis hank clearing Wednesday were $2,836,000: bank debits were $5.381.000. New York Money Market By United Financial NEW YORK April 9—The money mar-ket-today was the easiest this week. Call money renewed at 4 1 I per cent this morning and eased ' at midday. Time money wa# in quiet demand, with 4V* per eent bid and 4H asked on all maturities up to sixty days. The longer aeeommodations ruled 4 L to 4 K per eent. Commercial paper ruled at 4*4 for best names, with other good names at 4** per cent. The market wan quiet. Foreign Exchange Bu United Financial NEW YORK. April !>.—Foreign exchange opened higher, with Sterling at $4.3-3for demand and $4.34 * - for cables, up *c. | Francs, demand. 6.oo'ie. Lire, demand. 4.46V4e. Be’gium demand. 5.11 He Marks. 4.500.000.000.000. Czecho. demand. 2.36 He. Swiss, demand. 17.56 c. Guilders, demand. 37.29 c. Pesetas, demand. 13.44 c Sweden, demand 26 42c. Norway, demand. 13.75 c Denmark, demand. lfi.64e. FEW OF THE OILS MAKE GAINS IN CURB OPENING K&rly Prices for Most Stocks Stay Close to Tuesday's Final Levels. By United Financial NEW YORK, April 9.—Early prices for the most of the curb stocks stayed close to the previous day’s final levels. A few of the oils gained a shade. Gulf Oil rising point to 59 Lfc, with the South Americans retaining their firm undertone. In point of activity Dubilier led the list, gaining a quarter of big turnover. Tobacco Products export eased ofT to 4 7 4. Tank Wagon Prices • Gasoline prices do not Include State tax of 2c a gallon.) GASOLINE—Energee. 22c a gallon: Purol. 18.2 c: Red Crown, 18.2 c: Diamond Gas. 18.2 c: Crystal Pep. 21c: Target. 18.2 c: Silver la*h. 22c: Standolind aviation. 23c. KEROSENE- —Crystal]ne j2.7c a gullon: Moore Light. 15.5 c: Arclite, 12.7 c: Perfection 12.7 c: Solvent, 35c. NAPTHA —Lion Power C'eaners. 22.6 c a gallon: V. M. & P.. 25.5 c: Staudolind Cleaners. 22.5 c. \ Dressed Beef Prices Wholesale selling prices on dressed beef. Swift 5 Cos.: Rib*—No. 2. 30c: No. 3.17 c. Loins—No 2. 25c: No. 3.18 c. Round*— 18c: No. 3.10 c. Plates—No. 3. sc; No. 1. 7c. Raw Sugar Market By United Financial NEW YORK. Ap -1 9. —Sugars opened steady: May 4.7564.76 c; July. 4.85®4.89c: December 4.366 4 38c. In the Cotton Market By United Financial . NEW YORK. April 9.—Ceaton opened s’-adv with initial quotations as fotfows: May 31.19 c. July. 29.80 c: October. 25 65c. off 2 points.

New York Stocks <B? Thomas & McKinnon I ———— —April 9

Railroads— Vrev. High. Low. 12:45. close. Atl Coast L. 119% ... 119‘ 120 B k O 60 % . . 66 % 65 % C * O 74 % ..." 74 H 74 % C i N W... 52 ... 52 ol % Del A Lacka.lt4% ... 114% 114% Gt North ptd 67 % 57 % 57 % 57 % Lehigh Val. . 66 % ... 60 % 66 % Mo Pacpld.. 42 41 % 41% 41 N Y Central. 101 *4 100% 101 % 100% Nor & West. 129** 128 129 >4 127% Penney .... 44 44 ... 44 44 44 44 Reading .... 64*4 54% 54% 55 Southern Ry 55 % 54 % 54 74 54 % i Southern Pae 90 89 '4 90 % 89 % St Paul ptd 27 % ... 27 % 27 % St L & S W 38% ... 38% 38% Wabash ptd.. 46 74' 46 46 74 46 Rubbers— Kelly-Springfd 14% 14% 14% 14 % U S Rubber. . 29*4 29 29 % 29% Equipments— Amer Loco . 71% 71% 71% 71% Baldw L0c0.116% 115% 116% 115% Gen Elec ..216% 213 216% 213% Lima Loco. . . 60% V. 60% 60% Pullman ...115% 115 116% 115% Westh Elec. . 62 60 % 62 60 % Steels— Bethlehem... 51 % * 60% 51% 50% Crucible 54% 53% 54% 54 Gulf States.. 71 70% 71 71 Rep Iron A S 40 % 46 46% 46 U S Steel.. . 98 % 98 % 98 74 98 % Vanadium.... 23% 23 7* 23% 23% Minings— Gt North Ore 30% ... 3074 3074 Int Nickel... 13% 12% 13% 12% Coppers— Am Smelting 61% 61 61% 60*4 Anaconda 32% 32% 32% 32% Kenneoott 36% 36% 36% 36% Motor*— Chandler Mo. 40 % 40 % 48 % 46 % Gen. Motors. 14% ... 14% 14% Max Mo “A" 44 74 ... 44 44% Max Mo “B*’ 11% ... 11% 11% Studebaker... 92 74 91% 92% 92%

GRAINS REFLECT LOWERMARKETS Corn Shows Better Strength Than Wheat, By Initcd Financial CHICAGO, April 9. —Grains started with a weak undertone on the board of trade here today. Slow general demand and lower markets everywhere reflected in local trading. Weather conditions were a trifle irregular, but, had little bearing on sentiment. Liverpool started lower due to slow demand und liberal offerings below American values. Heavy charter of freight room was effected over night is believed to represent business consummated in the last ten days for deferred shipment. Export business over night totaled 300,000. Com started unchanged. Wit showed better strength than wheat. Rains over parts of the belt, it is believed, will slow up the movement. Liverpool reported a slow demand and liberal offerings at concess.ons. Oats was steady on account of unsettled weather and light receipts. Seeding is progressing favorably. Pro visions were steady. Chicago Grain Table —April 9 WHEAT— Prey Open. High. Low. Close, close May .1.02 1.02% 1.0174 1.01% 1.02% July 1.0.1% 1.03% 1.03 1.03% 1.03% Sept. 1.04% 1.04% 1.04 1.04 74 1.04% CORN— Mav . 77% .77% .76% 76 74 77‘4 July . 78% .78% 77 t 4 .78% .78% Sept. . .78% 78% .77% .7b % .78% OATS— May.. .45% .45% .45% .45% 4., ■ July.. .43% .43% .43% .43% .43% Sept 40% 40% 39*4 .40.40 7* LARD— Mar. 40 92 10.95 10 90 10.95 10 87 RIBS— Mav 9 82 9.85 9 82 9.83 RYEMav. .65% .65 * .05% .65% 8. % July. .67% 67% .67% .67% .67% CHICAGO. April 9—Primary recripta: Wheat. 348.000. against 778.000: corn. 589 000. aganist 599.000: oats. 480.000. against 572.000. Shipments. Wheat. 392,000 against 683.000: com. 610.000. against 638.000; oats 623.000. against 681.000. CHICAGO. April 9.—Car iot receipt* were: Com, 78 wheat. 25: oats. 19; rye, 6.

Cash Grain

INDIANAPOLIS. April 9.—Total receipts for the day. 14 cars. Grain prices quoted f. o b. basis 41 He to New York: hay on track Indianapolis. Bids for car grain and hay at the Indianapolis Board of Trade were: Wheat—Through billed: steady No. 2 hard. 96699 c; No. 2 red. 98o6$lJ)l. Com—Easier: No. 2 white. 73675 c: No. .3 white. 72 674 c: No. 2 yellow. 73 675 c: No .3 yellow. 72 6 74c; No. 2 mixed. 72 6 74c: No. 3 mixed 716 73c. Oats—Steady: No. 2 white. 45647 c: No. 3 white. 44 6 46c. Hav—Steady No. 1 timothy. $22.50 6 23: No. 2 timothy $22 6 22.50: No 1 light clover mixed. $226 22.50; No. 1 clover hay. $21.50622. —lnspections Wheat—No. 3 red. 1 car: No. 4 red. 1 car: No. 5 red. 2 cars: No. 2 hard. 1 car; No 2 mixed. 1 car. Total. 6 cars. Corn—No. 2 white. 1 car: No. 3 white, 2 cars: No. 4 white. 4 cars; No. 5 white. 1 car: sample white. 1 car No. 3 yellow. 1 car: No. 4 yellow. 4 cars: No. 5 yellow. 5 cars: No. 3 mixed, 1 car: >%> 4 mixed, 1 car. Total. 21 cars. Oats—No. 2 white 1 car: No. 3 white. 5 cars: No. 4 white. 5 cars. Total. 11 cars. Rye—No. 3. 1 car. Total. 1 car. Hay—No. 1 timothy 1 car: No. 1 clover mixed, 1 car. Total. 2 cars. £ Grain Briefs CHICAGO. April 9.—Arrivals of wheat In the United Kingdom are in excess of requirements and port stocks are now more than double those of a month ago, Broomhal! reports. Extremely light speculative interest indicates the market Is fairly well evened up as far as large lines are concerned. The 2.000.000.000 bushels of com which has disappeare-d up to March 1 has not all been consumed, a leading operator says. Much of it lies in warehouses of feed manufacturers who now hold the largest stocks of mill and glute feed ever known. - - * Considerable liquidating is expected before the end of this month. Failure of foreign markets to follow domestic advances, ! and the fact that we are still out of line for exports makes bulge sales advisable, leading observers opine. 1 1 is surprising that grain prices have held relatively firm in view of fears of Government interference. It Is stated by those who i believe that it trepidations of adverse legislation were not prevalent trading would improve. The trading is vA looking for rapid improvement in com offering for several weeks, but expect that fanners will sell corn holding after oats seeding is over and preparations are made for planting of the spring corn crop. Cloverseed Market Local dealers are paying $lO @l2 a bushel for cloverseed. Bonus May Get Priority By United Prrsn WASHINGTON. April 9.—The sol [ <lier bonus bill w ill be reported to the I Senate this week and probably will j get the right of way over tax reduc- ; lion. Senator Smoot indicated today. Rifle Shoots April 28 The Indiana State-Rifle Association will hold its annual indoor rifle shoot at Culver, April 28. The annual small arms shoot of the National Guard will be held in conjunction.

Prey. High. Low 12:45 c’oae Stewart-W. . 78 77% 78 78% Willys-Oland 9 74 8 74 9% 9 Oils— Calif. Petrol. 25 74 24% 25 25% Cosden 30% 36 36% 36 % Houston Oil.. 7174 70% 70% 70% Marland Oil. . 38% 38% 38% 38 74 Pan-Am. Pete 47 74 ... 47 74 48 Ptn-A Pete B 46 % 45% 40 % 46 Pacific Oil.. 52 51 74 517s 5174 Pro and Ref 3174 ... 31 % 33 Pure Oil ... 24 % . . . 24 ■. "4 Royal Dutch . 54 % 54 % 54 % 54 % Std Oil of N J 37 74 30 % 37 % 37 % Sinclair 22% 21% 22 21% Texas Cos 42% ... 41% 42% Industrials — Allied Chem. .06 ... 66 66 Am Can ... 103 % 102% 103 74 103 Am Woolen.. 69% .... 09 68% Coca Cola 66% 06*4 66% 66 7-, Cont Can. . . 40% ... 46% 467* Davison Chem 50 49 74 50 49 7s Kam Players 67 % .... 07 % 08 Gen Asphalt 38% .... 37% 38 In*"r Ilarv.. 85% 85% 80 Moat A W. 24% .... 24% 25 Sears-R0e.... 85 % .... 85 8., % TT. 9. C. I. P.. 74% .... 74% 75 IT. S. In. Al. 68% - ... 08 >4 68 7* Woolworth.. 339% 308 312% Utilities— Am T A Tel 126% 126% 126% 126% Con Gas. ... 62% 62% 02% 62% Columbia G.. 34% 34 34% 34 Shipping— Am Int Cor.. 19% .... 19% 19% In M M pid. 30 29*4 30% Foods— Am Sugar.. 49% 48% 48% -79% Am Beet Sg. 42 41% 41 % 42 Corn Prod.. 100 105% 165% 106 C C Sf ptd.. 03 % 02 % 63 03 % CAm Sugar 33 % 33% 33% 33% Punta Alegre 61% 617* 81% 62 V* Tobaccos— Tob P (B).. 56 .... 56 55%

BOND MARKET FIRM AFTER FOREIGN NEWS French, Austrian and Belgium Issues train Fractionally. By United Financial NEW YORK, April B.—The bond market ruled firm, reflecting favorable foreign news. In the foreign group, Government of Franco 7Vis and Bs, as well as Austrian 7s and Belgium Bs, gained fractionally. On favorable traction developments IRT 6s gained 1% at 67. the 7s 1% at BSTg and the BMT 6s a 7; at 77*4. Strength in American Agriculture Chemical 7%s again featured the industrials with a gain of 1% at 90. The rally in these bonds followed publication of an official statement by chairman of the board denying rumors that the company had any financial difficulties. Produce Markets INDIANAPOLIS April 9. —Fresh egg-, ios* off. 20c. packing stock butter, 2.3 c: springs, over 2 lbs.. 23c; fowls. 4% lb*, up. 23c: f< wls under 4% lbs.. 18c; Leghorn poultry. 25 per suit discount: cocks 13c; stags 18c: young tom turkeys 12 lbs up. 24c young hen turkeys. s lb*, up. 24c. geese. 10 lb*, up. 12c: squabs. 11 lb*# to the dor. $5 50: old guineas, d0r.§4.50. Indianapolis creameries arc paving 52c per pound for butterfat. CLEVELAND. April 9.—Butter —Extra in tub*. 41'.'1l 43%, : extra firs'.* 40 %ft 42 %<-• firsts. .’.8% ft 40 %e packing stock 25 ft 30c: standards 40% ft 42 %<•; prints lc extra Ejg*—fresh gathered northern extras 2ttc: extra firsts 24c; Ohio firsts. 2374 ft 23 %c: western firsts. 23c. Poultry—Live fat fowls, 27ft. 28c, springer*. 20 a 27c: Leghorns. 23ft 24c roosters. 17ft 18c: geese, 21 ft22c heavy white duck* 29ft 30c; light colored ducks 24 ft 26c: medium-fowl*. 25 ft 20c; stags, 18 ft 20r Potatoes—Michigan round white. $202.25; Minnesota whites $1,30 ft 1.50: New York $2.25 ft 2.3.5. all in 150-pound bags: Ohio*. $1 ft 1 15 a bushel new potatoes. Bermuda*. sls ft 17 per barrel. NEW YORK. April P —Flour—Quirt and unchanged Pork—Steady: me**. $24 75 0 25 75 Lard—Quiet Mid West rpot sll *5 ft 1 1 35. Sugar—Raw easier: centrilugal. 6 53c; refined dull granu'atod. 8 20®8.40c. Coffee—Rio spot 15%, Santos No. 4. 1974 ft 20% c. T.allow—Quiet: speetat to extra, 7%ft7 %c. Hay—Firm: No. 1 $150: No 3. sl.lsft 1.20; clover $1 05ft 1 30. Dressed poultry—-Quiet :turkeys 20ft 86c. chickens, 22 ft 48c: fowls 18 ft.l2c capons. 30 ft 40c; duck*. 20ft 26c ducks. Long Island, 20ft 30c. Live poultry—Quiet: geese. 12ft 16c; ducks 15® 30c, fowls. 26 ft 30c; turkeys, 35ft, 45c: rooters, 15c; chi-kens 25ft 35c; capon* Mi 50c: broilers 50 ft 55c CUccso —Dull; State whole milk common to special. 10ft 25c: State skin,*, choice to special*, 12018 c; lower grades sft 11c. Butter —Easier receipts. 9,05!*: creamery extras. 40c: special market, 40 %ft 41 r; State dairy, tubs 35ft 39 %c; Danish. 42ft 43c: Argentine. 35® 38c. Eggs—Firm: re .■eipts. 41 979: nearby white, fancy. 35® 37c; nearby State whites. 26® 35c; western whites. 25ft 37c; fresh fir-ts 25ft 30c; 26® 38c; nearby browns. 30 4132 c

Indianapolis Stocks —Anril 0— Bid. Ask. American Central Life 200 ... Amer Cresoting Cos pfd 97H ... Advance Rumely Cos com ... Advance Rumely Cos pfd ... Belt R R com 74 ... Belt R R pfd 53 Century Bldg Cos pfd 98H ... Cities Service Cos <-om ... Cities Service Cos pfd.. * ... Citizens Gas Cos com 28 H 29 Citizens Gas Cos pfd 102 ... Indiana Hotel com 100 ... Indiana Hotel pfd 100 ... Indiana Pipe Line pfd ... Indiana Tjjle Guaranty Cos. ... 80 . .. Indpls Abattoir pfd 45 Indpls Gas 51 55 Indpl* Sc Northwestern pfd 34 42 Indpls A Southeast-m pfd . . 45 Indpls St Ry 53 58 Indpls Tel Cos com 1 ... Indpls Tel Cos pfd 90 ... Mer Pub Util Cos pfd 82 National Motor Car Cos ... Public Savings Ins Cos 12 ... Ranh Fertilizer pfd 49 . Standard Oil of Ind 60 62 Sterling Fire Ins 10 11 T H I & E com 2 5 T H I & E pfd 10 20 T H Tr and Lt Cos pfd 88 Union Trac of Ind c0m........ 8 Union Trac of Ind Ist pfd.. 10 15 Union Trac of Ind 2d pfd ... 5 Van Camp Prod let pfd 98 Van Camp Pyod 2d pfd 98 Vandalia Coal Cos com ft Vandal 1 aCoa 1 Cos pfd V Wabash Ry Cos com 16H 17 1 * Wabash Ry Cos pfd 45 H 47 Bond Belt R R 4 8 Y 4s. May. 1930 81 Broad Ripple 6s. Jnly. 1923. 51 Cent Ind Gas ss. Sept., 1931 .. ... Cent Ind P Cos Os, July, 1947 . . ... Citizens Gas ss. July, 1942. . 88 89 Citizens Gas 7s, serial 101 105 Citizens SI Ry Es. May. 1933 80 83 Ind Coke & G Os, April, 1940 90 95 Ind Hotel ss. July, 1931... 94 H 99 H Ind Hotel Cos 2d Os, draw. . . .100 Ind North 5s Oct., 1923 ... Ind Ry and Lt fts. Jan.. 1943 90 95 Ind Serv Cor ss. Jan., 1950. ... ... Ind Union Trac ss. July, 1923 . . ... Indpls Ab Cos 7Hs. Sept., ’3l 99 102 Indpls Col Sc So 6s. Feb., 1948 P6H 100 Indpls Gas 6s, Oct.. 1952... 87 Vt 88 H Indpls L & H ft“. April. 1940 90 97 % Indpls Sc Mart ss. Jan.. £932 45 ... Indpls Nor ss. July. 1932. . 40 H 44 Indpls & Nor ss. Mar. 1923. 41 43 Indpls & S E ss, Jan.. 1925. . 25 30 Indpls S Sc S E ss. Jan . ’32 30 .35 Indpls St Ry 4s. Jan., 19.33.. 02 H 64 Indpls T & T ss. Jan., 1933. . 88 89 Indpls Un Ry ss. Jan . 1905 94 ... Indpls Un Ry 4H s May. ’26 95 Indpls Wa 5H s, March. 1953 90 98 % Indpls Water 4H* 89 H 90 i Ind Pub Ser 6s. April. 194.3. . 89 92 T H X & E ss. Aug., ’45 60 03 T H Tr and L ss. May. 1944 82 Un Trac ol Ind 6s, July. ’32 55 59 Bank Stocks Aetna Trust and Savings Cos. .103 .... Bankers Trust Cos 110 ... City Trust Cos II.V Continental National Bank... 105 ... Farmers Trust Cos 200 Fidelity Trust Cos 150 Fletcher American Nat l 8ank.1.35 14.3 Fletcher Sav and Tr Cos 205 220 Indiana National Bank 250 262 ImPana Trust Cos 210 222 Live Stock Exchange Bank . 190 ... Marion County State Bank .150 ... Merchants National Bank.. . 310 ... People State Bank 200 Security Trust Cos . . .150 State Savings and Trust C0...110 120 Unlou Trust Cos 310 350 Wash Bank and Tr C 0.... .150

ill iii _LxN JD LA.x>

PRICES FOR HOGS GAIN FIVE CENTS Cattle Market Is Active and Higher, - Hog Prices Day by Day Apr. 250-300 lbs. 200-275 lbs. 150-180 lb*. 3 7.60 7.60 7.00 4. 7.05 7.65 7.65 5. 7.80 -7 80 7.80 7. 7.80 7.80 7.80 8. 7.05 7.05 7.65 9. 7.70 7 70 7.70 Due to increased activity of local packers and outside accounts, and in line with a good Tuesday’s close, hogs found a ready sale at a 5-eent price advance in trading at the local livestock market today. Bulk of the sales were made early at $7.70, as compared to Tuesday's price of $7.65, regaining a part of the 15-cent slump Tuesday’s market suffered from Monday’s top price. A good mahy droves moved at a top figure of $7.75, and an early clearance of the yards was effected. I*ocal and packers were much interested in the offerings ami competition was rather keen from outside accounts. A few choice sows were bringing $7 with most of this class selling at $6.75 down. Pigs as a rule held generally steady, most of the sales being made at $7.25 down, while a few brought $7.50. There were 7,000 hogs in the yards, together with 643 hold-overs. Cattle held up under Tuesdays’ strong market and the trading was active, strong and higher with one lot of select steers bringing a top quotation of sll. Cows were selling good while heifers were rather draggy. Estimated cattle, 1,000. After starting weak the calf market closed strong in the face of a good demand, partly gaining tyick tllc steady trend which has held good for a number of days with the exception of Tuesday. However, quotations were possible no higher than on Tuesday. with most of the sales being made on a $11.50 to sl2 basis and choice stuff bringing $12.50. Calves. 900. Only a few sheep and lambs were in the yards, hardly enough to establish values. The market held steady with sll quoted as top for sheep and an of sering of $16.75 for lamb top. Receipts were light at 50. —nos* — Choice Ilirht* $ 7 70 I. mixed 7.70 Medium mixed 7.70 Heavyweights ~ ■ 7.70 Bulk of sale* 7.70 Top 7.7a Pack Inc sows H.2,>® PiC* 0.7,>® < oO tattle—■ Prime corn-fed steer*. 1,000 to I KOO lbs $ 9 00® 11 00 Good to choice steer*. 1.000 to 1,100 lb* 850® 9 00 Good to choice steers I.QOOto 1.200 lb* . 7 00® 7,50 Good lo choice teer 1.000 to 1.700 lbs 0.05® 7.50 Common to medium steers 8(.'0 to 1 000 lbs 6 00® 700 —Cows and Heifer* — Good to licht heifer* $ 0 00® 950 Good heavy weicht 7 05® 800 Medium heifer* o.oo® 700 Common cow * 300 ® 000 Fair cow* 6.00 7.25 Cutter* 2 75u 3.25 Conner* 2.7,>® 3 75 —Bull*— Fancy butcher hulls $ 5 00ft 000 Good lo choieq butcher bull* 5 00ft 5.50 Bolocna bulls 4.26® 4.75 —Cal x *•— Choice veals sll3O 4,12.00 Good vials 1000® 11 00 T.ichtwoicht veal* 7.00 ft 8.00 Common heavies 5 00® 7.00 Top 1250 —Sheep and I -am it*— Extra choice lambs sl4 00® 10.75 Heavy lamb* 10.004* 13.00 iCull lambs ...1 0.0001000 Gfosl to choice ew 5.00011 00 Cui* .*.... .’l oo® 5.00 Other Livestock TOLEDO. April 9—Hogs—Receipts 800: market 5c lower; lira vies $7.5007 65; medium*. $7.75® 7 80: ynrkera, $7.00® 7 75: rood pic*. $0 50®0.75. Calves—Mar ket steady Sheep and lambs—Market steady Butter- 1 —44 0 46c Rcc —21® 23c. Hav—s3o. CLEVELAND. April 9.—Hogs—Receipt*. 3.500: market steady. 10c higher; Yorker*. $8: mixisl. $8: medium. $8; pig*. $7; roughs. $0.25: stag* $4.50. Cattle—Jbirlpts 200: market active, unchanged Sheep and lamb.—Receipts. 1.000; market steady; top, sl4 50. Calves—Receipts, 200; market slow , top sl3. CHICAGO. April 9.—Cattle Receipts. 0.000; weighty steers active. 104115 c up: others and lower grades light yearlings barely steady: bulk matured steers held around sl2 40 early; bulk fed steers early. $8 50ft 11. several loads. $11.60012: best yearlings. $11.36: fat she stock slow, steady: light vealers shade lower. Sheep—Receipt*. 7,000: market active: fat lambs strong. 25c up: sheep around 25c up. practically no feeder* on sale; good fat woo led lambs early. $16.5(1; medium natives, sls; good shorn lambs sl4 50; choice fat wooled ewea. Sl2 40® 12.50. PITTSBURGH. Aprit 9.—Cattle Receipts light; market steady; choice, $8.76® 10.50; good. $8.7509 50; (air, $7.25®8; veal calves, $12.50013. Sheep and lamb* —Receipts, 3 double-deck*: market active, strong: prime wethers, $lO 75011: good. slo® 10.50: fatr mixed, $8 0 9.60;’ lamb*. $7 fit 13.50. Hogs—Receipts. 20 doub'edeeks; martlet steady: prime heavy, sß® 8.10; mediums. $8.1508.25; heavy Yorkers. $8.15®8.25: light Yorker*. $7®7.50; pig*. 86.2607; rough, $000.50; Btags, S3O 3.75. EAST BUFFALO. April 9—Cattle Receipts. 125: market slow, steady; shipping steers. $9.25011.60; butcher grade*. $8.50 ft 9.50: cows, $2 07. CaTyew—Receipts, 200; market active, 50c higher; cull to choice, m 013. Sheep and lambs Receipts. 1.000, market artlvo; lambs 26c higher, sheep steady; choice lambs. sl7 0 17.25; cull to fair, $10016.50: clipped lambs. $8.60014.76: yearlings, $9012.50: sheep, $3.50 04. Hog*—-Receipts. 6,400; market, active, steady to 10c higher; Yorkers. $7.25® 8.10: pigs, $707.25; mixed, $8.10; heavy. $8.10; roughs. [email protected]; stags, $4 0 5

RUSSIAN EMBASSY SLEEPSJN m Most Magnificent- Foreign Building in Washington Still Empty, Bu United Xeics WASHINGTON. April 9. --Care-free and tax free, with no troublesome Intrigues to ruffle Its peaceful existence find no elaborate state parties to break the mighty silence, the old Russian embassy, considered to be the finest foreign building in this city, now has entered its third year of single life. Unofficially, the United States knows thelre has been no representative of the Russian government here, but officially the State Department still carries the name of Serge Ughet, a Kerensky agent, on its books. The tax assessors of the capitol take their cue from the State Department so that there are no taxes levied on this magnificent property. “Anyway,” the tax assessors deck; re, “what's the use of assessing them. "There’s nobody to pay the taxes.”

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GOVERNOR CALLED ‘BANK WRECKER’ (Continued From Page 1) first time, the gallery was thrown open. It tilled rapidly. “I can't call your attention to all the unfair statements made here by Inman,” said Hugg. ‘‘lie his treated men like Harry Moberly, Tom Grant and George Montgomery (witnesses for the Governor) like scalawags and co-conspirators. There are no better men in Indiana. “Because these men had the temerity to corns into court and tell the truth they are subjected to vilification and abuse. They are charged indirectly with gra't and perjury. “We believe you jurors will try this case a,lone. stripped of extraneous matters dragged in by the State in a desperate attempt to convict Governor McCray. “Convict him of what? I don't knotv. What is back of all this? I don't know. What malice is there In all this prosecution? I don't know. He has been accused of all the crimes there are. as though he were a monster In crime, and you are asked to try him on all. “Had Right to Send ( heck” “There is talk of how his friends came to his rescue, and the special prosecutors tried to suspicion skulduggery and chicanery in that. They point out how he sent the checks to the Chicago branch of the Kentland bank, as though that were criminal. He had a perfect right to send the there.” At the opening of court, attorneys for the defense filed a motion to instruct the juiy to return a verdict of not guilty. Judge Chamberlin overruled the motion. Tpey then filed a motion to require the State to elect whether it would rely on the embezzlement or the grand larceny charge. This motion also was over-ruled. Inman Commends Jury Inman opened his arguments quietly. paying a perfunctory tribute to the intelligence and integrity of the Jury. He then launched into his real argument. “We fft-e not to be bewildered by the high-sounding, oft-repeated title of Governor, which you have heard here so frequently,” he said. “We are not to be led astray by intimations of political prejudice. “The issue here is wholly a non partisan one. No politics has any thing to do with it. The serpent of time does not stop at party lines, but makes its winding trail regardless of party. “T'he Governor is being tried solely as an individual citizen. The heinousness of his crime must bear relation to the flagrant prostitution of his public trust. “The State is not required to prove a motive for a crime.’’

•‘Public Trust Betrayed” Inman bitterly denounced the Governor as one who had “juggled public funds and betrayed the public trust,” and scoffed at the defense theory that the Governor intended to pay back the $155,000 board of agriculture “loan." "Criminal irAent is a necessary element in some crimes,” Inrpan said. “It may be implied by law. If a man uses money of another, he may swear on oath that he did not intend to convert it. yet circumstances may overthrow the naked denial. “Frequently necessity arises when the accused and his counsel must choose between hair-splitting argument to leave doubt, or insanity. It is difficult -Lor the defense to determine what to do. "Look squarely at the mass of amazing fact* in this case. It would be no violent deduction here that long and anxious vigils have been spent by those around the Governor, as well as that long line of dependents in the Statehouse, so determine whether insanity should l\e the Governor’ss plea. “The defense determined finally his acts were those of a sane mind, and to draw its flickering hope from ’Such ether sources as possible—the hope that those forces which derived support from the Governor would withhold the sting from their testimony, the hope that, through sympathy, the jury will view with suspicion the effort of the State. “These act* were as cool systematic

‘You'll Have to Indict Me’

j embezzlements as ever recorded. If Warren T. McCray were b p ii>K tried : for embezzlement of private funds, he icould not say he intended to repay ! the money before it was discovered. “lie was intelligent and resourceful | enough to secure the nomination and ; election to the Governorship and to I push his ambitious way into honor and public power. He knows, and al- ! ways knew, that intent to repay is 1 no defense to embezzlement. “By the overpowering influence of I the Governor’s office he over-reached I and deceived an inferior officer. He, ;of all men. knew that the thousand embezzlers now in the State penitentiary had in mind the effectual and ridiculous defense that they intended [replacing the*money they took.” Stares at Wall Throughout this denunciation the Governor sat staring at the wall as if | he heaiy? no word of the argument. His I battery of attorneys was busy takj ing notes. Inman resumed: “The most shock- \ ing, most revolting thing to a free people is when a man comes into the arena of politics, and, by the mere i expenditure of vast sums of money, ! breaks down all opposition, pushes to honor and power, and, most extraordinary of alt. to recoup his campaign expenses—gamhling expenses, as It ; were—thrusts his hands into the public treasury and embezles the people's j money.” Jurors listened attentively to Inman's arguments. For the first time in a week their air of weariness seemed to have vanished.

Flight Hours for Argument Each side was allotted four hours for argument. Allowing for recesses and various delays argument will dose before noon Thursday. If possible Judge Chamberlin will give his instructions, which probably will take more than an hour, before noon adjournment. To the evident surprise of the State the defense rested suddenly Tuesday afternoon without putting Governor McCray on the stand. This action was not a surprise to those in close touch with the defense. Since Monday there has been a marked air of optimism in the Governors' camp. Strategy Considered Daring Attorneys considered it a daring bit of strategy as it has been a wellknown fact that the Governor w r as anxious to take the stand. As it is. he is free to take the stand in the Federal Court case pending against him without having "tipped” his hand to, the prosecution. The defense took less than two days to present its case and used only six witnesses. These six were used to Impeach testimony of Brown. The State used about one hundred witnesses, a majority of them being bankers, who testified to loans made the Governor. This phase of the case the defense entirely ignored, and probably wili argue that lt had no bearing on the board of agriculture transactions. Question Before Jury As the case ww stands the big ouestion for the jury to decide is considered as this: Was the $155,000 oz the funds of the board of agriculture turned over to the Governor in June and July, 1938, by Brown intended as a personal loan to him or for deposit in the Discount and Deposit .State Bank ofACentland, of which McCray was president at the time? George N. Montgomery, Indianapolis real estate man, and closely associated with the affairs of the board, was ihe final witness for the defense. He boro out testimony of members of the board and flatly contradicted evidence given by Brown. GRASS FIRE IS FOUGHT Warning of Chief O’Brien Unheeded by Careless Person. Recent warnings of Fire Chief John J. O'Brien of danger of tossing matches into dry grass were unheeded V some match-user today. Using brooms, firemen extinguished a blaze in grass at Sixty-First St. and College Ave. High wind made the fire look dangerous for a while. By reason of the annual variation j of the magnetic needle, it is believed ; that the magnetic poles are not stationary, but have a slow motion I around the geographical poles.

ONE-TON SUNFISH CAOGHT IN GOLF STREAMBATTLE Sea Monster Is First Ever Caught in Atlantic Ocean, By Timm Special MIAMI. Fla.. April 9. —A monster ! sunfish. the first ever caught in the Atlantic Ocean, according to fishing 1 authorities here, has been landed here by a party of Chicago fishermen, with the aid of a derrick, the Denham News Service says. It weighs 2,000 pounds and is more than eight feet long. William P. Forschner of Chicago and H. A. Domph and F. J. Beckley of Cleveland were trolling for sailflsh in the gulf stream when they sighted the big fish swimming lazily along near the surface.* He refused to sound when harpoons hurjed at him railed to penetrate because of the scales which turned the weapons, and finally one of them was sunk in the eye of the fish and held. Furiously lashing about in an effort to shake off the barb, the fish put up a battle that lasted for hours, towinp the boat far to sea. At times it sounded to a depth of 150 feet befort ie finally became weakened from loss of blood and the fishermen were able to haul it alongside their cruiser. Even then the fish died hard. Many bullets from high-powered rifles were fired into the eye when it was found that th? rock-like scales would even turn a bullet. It is believed here that the monster made its way from the Pacific through the Panama Canal and Is the first of its kind to visit these waters. Its heavy armor and great strength lead also to' the belief that its customary haunts are far bejow the surface. / Births Girl* I Robert and Ruth Ruddick, 960 English^ Clarence and Biddie Breeding. 530 E. Ohio. Burt and Lelia Dingley, St. Vincent's Ho* pital. * William and Claribel] Hooper, 9t. Vincent’s Hospital. Robert ami Georgiana Dedaker. St. Vincent s Hospital. Loris and Jean Lyons, 634 E. Ohio. Joe and Josephine Sigrete. 428% S. East. John and Margaret Willis. Methodist Hospital. Walter and Marie Alike, 2243 Broadway. Albert and Louisa Swartz, 150 8. Fourth. Iloy* Alpheus and Nora Sampson. 420 N. Noble. James and Helen Keenan. St. Vincent's Hospital. Theodore and Margaret -Corbin, St. Vincent's Hospital. Frank and Augusta Binlord, St. Vincent's Hospital. Sterling and GU-dys Gossett. Methodist Hospital. Hazelet and Mildred McWilliams, Methodist Hospital. George and Rosa Toney, 1230 S. Keystone. Fred and Florence Camper, Methodist Hospital. Deaths Thomas B. Jackson, 36, city hospital, paresis. Ernest N. Bcbson, 56, 2510 Boulevard PI., diabetes. Samantha Okey Osgood. 75, 3202 Central, lobar pneumonia. Caroline Christiana Mueller, 90. 2605 College. lobar pneumonia

DIVIDENDS * ' When you invest your savings, buy securities which have a divi-dend-pacing record extending over a period of years. Central Indiana Power Company and its predecessor have paid dividends without interruption since organization in 1912 Dividends on our Preferred Securities are payable in March, June, September and December of each year at the rate of $7 per year per share. At present price, $92.50 per share, this is better than 7Vi% on your savings. Call, phone or write. INVESTMENT DEPARTMENT Central Indiana Power Company Merchants Heat 4 Light Company. Wabash Valley Electric Company. Northern Indiana Power Company. Valparaiso Lighting Company. Indiana Electric Corporation. A Hoos ie r Institution

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LESH ASKS DRYS TO FIGHT LURID LITERATURE SALE Official Seeks Cooperation of Anti-Saloon League—- ’ Election Scheduled. Anti - Saloon League of America was asked by U. S. Lesh, attorney general of Indiana, to take up the fight being conducted by Lesh against sale of certain magazines listed as objectionable Lesh addressed a meeting of 100 directors of the national organization at the Claypool, called to elect a successor to the late Dr. Purley A. Baker of Westerville, Ohio, general superintendent of*the league. “Aid Law Enforcement;” “Control of literature read by the young people should aid greatly in enforcement of prohibition and other laws,” he said. Lesh’s speech was in a form of a greeting to the convention. Judge Richard Hopkins of Kansas replied. Dr. George Young of Louisville, veteran prohibition worker, told of efforts of Dr. Baker as a worker for the cause. Possibilities Mentioned Several possibilities are being mentioned for the position of national head of the league. They include Dr. F. Scott Mcßride, Chicago, superintendent of the Illinois Anti-Saloon League; Ernest H. Cherrington of Westerville, Ohio, secretary of the World League Against Alcoholism, and Wayne B. Wheeler, general counsel of the league. It was said that the names of Mcßride and Cherrington would be presented to the convention and that Wheeler's name might be presented. The election was scheduled for this afternoon. The meeting was presided over by L. B. Musgrove of Alabama. Dr. Baker presented his resignation shortly before his death. This resignation was read at the meeting. OIL PROBERS HEAR MORE ABOUT‘BEAL’ 'Hainon Signed Check That Nominated Harding.' By United Prmg WASHINGTON, April 9,—Further testimony concerning alleged “deals” to secure the Republican nomination for Warren G. Harding was given the Senate oil committee today. J. F. Baughn, Harling, Texas, the first witness called, declared Jake Ha-, mon_ told him he “signed the check that nominated Harding for President.” “He told me then he had ‘motives’ for supporting Harding, ans if need be that he would spend $1,<400,000 to carry Oklahoma Republican.”

RECRUIT CROSSES EXPERTCRITICISM ‘Couldn’t Hit Major League Pitchers’ —but He Did. He won't hit major league pitching. That was the consensus of the baseball scouts when the Chicago White Sox purchased Outfielder Archdeacon. A speed king and a good fielder, the Chicago Club, in need of outfielders, took a chance on Archdeacon’s hitting ability. * Upon joining the White Sox, Archdeacon proceeded to upset the dope by hitting major league pitchers with greater regularity than the bush league stuff. At the close of the 1923 season the American League averages him heading the list for the few weeksN he played. He tied for the lead in the International. WHAT ABOUT SPITBALL? Southpaws Say It’s Easy On Arm— Hurters Disagree. Is the spitball hard on the arm? Great spitball pitchers like Ed Walsh and Jack Chesbro always insisted throwing the moist delivery took a lot out of a pitcher’s arm. Left handers using the spitter have been the decided exception. Clarence Mitchell of the Philadelphia Nationals is one of them. Mitchell takes a directly opposite view from that of most spitball pitchers. He says the spitball is far easier on his arm than fast one or the curve.