Indianapolis Times, Volume 35, Number 297, Indianapolis, Marion County, 25 April 1924 — Page 17

FRIDAY, APRIL 25,1924

INDUSTRiALS HOLD STEADY, RAILS HIT BY MORESELLING Reserve Bank Statement Explains Ease in Call Money, The WALL STREET JOURNAL NEW YORK, April 25.—The explanation for the prevailing ease In call money was afforded in the remarkable showing set forth in the weekly Federal Reserve Bank statesments. A reserve ratio of 90.8 per cent for the Xew York Institution represented the highest rate since this country went to war with Germany, while the figure for the whole system rose to 81.6, the highest since Feb. 6, when it stood at 82.1, and with this exception, the highest since early in 1917. Industrials were steadied in the earlier dealings by the extraordinary character of these exhibited, but rails were under the influence of further selling of both Southern Pacific & Norforlk, both of which were available at the opening at lows of the current First Hour Early backwardness in rails was wiped out by a burst of strength in Nickel Plate in the first hour, which jumped 3% to 78%, responding to the belief that the common dividend will be raised to a 7 per cent basis from the present 6 per cent rate. Industrials eoptinued to display indications of uncomfortable crowding on the short side. With fifty-three stocks loaning flat, it was evident that there had been no extensive covering and that large operators were still bearish. It was felt that a little aggressiveness on the part of constructive interests could force an extensive covering movement. Second Hour Shorts become increasingly apprehensive as the rally gained momentum in the late morning, and at noon the most vigorous recovery in recent weeks was in motion. Xew highs on the rebound were reached by steel at 99%; American Can at 101%, Baldwin at 112% and General Electric at 213%. Pronounced strength was displayed by the oil shares, especially the Standard Oils. One reason is the advance In heavy crude oil and the fact that many large companies are beginning to draw or surplus stocks. Another favorable development was the announcement of Standard Oil of Indiana that sales were running 20 per cent ahead of a year ago. Twenty average industrial stocks Thursday averaged 90.44. up .01 per cent. Twenty average rails averaged 81.13, off .28 per cent. New York Money Market By Faited Financial XEW YORK. April 25.—The lowest r> - newai rate in many weeks on call money this morning at 3per cent caused an easier ot rates in the va-ious other sections of the money market. Time money was reported dull, with rates for thirty to fortyfive days ruling at 4% per cent and ninety days at 1%. Commercial paper was quiet, with prime names usually quoted at 4% per cent discount, and other good names at 4 '* per cent. Bankers - bills were very active, with discounts on thirty to ninety-day paper at 4 per tent bid tad 3is asked; to 4; JSG-d*y. 4 % to 4%. Call loans against bills. 3%. Local Bank Clearings Friday. Friday. April 25. 1924. April 27. 1923. Clearings $2,640,000 $2,875,000 Debits $5,460,000 55.021.000 Foreign Exchange By United Financial NEW YORK. April 25.—Thrre was a steady Undertone in the foreign exchange market at tha opening. Sterling, demand. $4.37%; cable. $4 37%. French, demand, 63( c: cable, 6.31 c. Lire, demand. 4.45%c: cab'e u 46c. Belgium, demand. 5.39 c; cable, 5.39 He. Marks. 4,500.000.000.000 to the dollar. Czecho. demand. 2.95 c; cable, 2.95'je. Swiss, demand. 17.71 c; cable. 17 73c. Holland, demand 37.17 e; cable. 37.20 c. Spain. demand. 13.90 c; cable, 13.82 c. Sweden, demand. 26.28 c; cable. 26.32 c. Norway, demand. 13.88 c; cable, 13.92 c. Denmark, demand. 16 76c: cable. 16.80 c. Greek, demand. 2.02 %c; cable. 2.03 c. STANDARD OILS LEAD ACTIVE CURB MARKET Prairie Issue Leaps Four Points at the Opening. By United Financial ! NEW YORK, April 25. —The active curb stocks were active to firm during the morning dealings. The Standard Oils showed the way from the •tart. Prairie Oil and Gas leaped 4 points at the opening and added further gains before midday. The chief topic of conversation in curb circles this morning was the reported progress made by Producers in the Salt Creek district by means of electric drilling. It is understood that Standard of Indiaa, through its subsidiary, the Midwest Refining Company, plans a very extensive drilling program in the Salt Creek field in Wyoming, which, of course, is near the more or less famous Teapot Dome. There is some thought that drilling in Salt Creek will drain the Teapot Dome. The industrial shares traded on the curb showed far more irregularity than did the oils. Leading coal shares were higher, both Lehigh Valley Coal and Glen Alden turning In fractional gains before midday. Gillette Safety Razor was pushed more than a point lower on a thin market. Motor shares were dull. * In the Cotton Market B't United Financial NEW YORK. April 25. —The cotton market opened higher. May 29.80 c. up 25 poinG; July 29.30 c. up 20: October 24.75 c, up 13. Trading ruled quiet tn the early dealings. On account of today being the first notice day for May delivery, considerable interest was shwon In this position. Notices for •round 2.000 bales were reported. Encouraging cables caused near months to show | firmness, while rains in Texas promoted ‘ eorae selling of new crop positions. The ■mall number of notices issued proved to be a surprise, as several large houses failed to issue any during the early dealings. The cotton market was irregular, new crop months sagging and old crop months holding steady. Shorts continued to cover on May and July. 0 London Metal Market By United Financial LONDON. April 25.—Metal close: Copper, spot. £63 12s 6d. off 10s: futures. £64 10s, off IQs. Electro, spot. £69 10s. off ss: futures. £7O. off ss: sales, spot. 100 tons; futures. 1.100. Tin. spot. £240 ss. off £5 15s: futures. £240 ott £5 15s. Strait#. £241 10s. off £5 15s: sales, spot 50 tons: futures, 400 tons. Lead. spot. £3O 15s, off £1 12s 6d; antest

New York Stocks " (By Thomas A McKinnon) " —April 25

Railroads— Prev. High. Low. 12:46. close. B St O .... 63% 53 5314 53 C & O 75% 74% 76% 74 Del & Lacka.lls ... 115 115 Erie first pfd 33% 33 33% 32% Lehigh VaL. 40% 40% 40% 40 Mo Pae pfd. 39% 38% 39% 35% X Y Central.loo% 100% 100% 100% Northern Pac 51 ... 51 60 % Nor & West. 124% 123 123% 123% Pere Marq... 46% 46 46% 46 Southern Ry 53% 53% 63% 53% Southern Pac 89% 88% 89% 88% St Paul pfd. 25% 24% 25% 23 St L & S W 36% 36% 36% 36% Union Pac . 130 % 129 % 130 129 % Wabash pfd 46% 45% 46% 45% Rubbers— Kelly-Springfd 15% mmm 15% 15% U S Rubber 28% _ 28% 28% EquipmentsAmer Loco.. 71% 71% 71% 71% Baldw Loco .112% 109% 111% 109% Gen Eiec ...214% 211% 213% 210% Putiman ...117 ... 117 116% Westh Elec.. 60% 60 60% 59% Steels— Bethlehem ..51% 50% 51% 50% Colorado Fuel 34% 83% 34% 33% Crucible 53% 53 63% 62% Gulf States..7o 68 69% 67% Rep Iron & S 46% 46 46% 45% Motors— Chandler Mo. 45% 45% 45% 44% Gen. Motors 13% ... 13% 13% Max Mo -A" 41% ... 41% 41% Max Mo “B" 11 ... 11 11 Stuaebaker... 85 83% 84% 83% Stewart-W 73 72% 73% 71% Timken 84% ... 34% 34% Trans Con Ore 4% 4% 4% 4% Oils— Calif Petrol.. 23 ... 23 23% Cosden 32% 31% 32% 31% Houston Oil.. 65 64% 65 63% Marland Oil.. 34% 34 34% 34 LIBERTY BONDS ADVANCE TO HIGHS FOR THE YEAR Banks and Corporations Prove Good Buyers on Firm Market. By United Financial XEW YORK, April 35.—New highs for the year in the Liberty bond list featured the morning dealings in the bond market. Banks and corporations were good buyers throughout. One reason for the firmness of the market for our Government’s war loans is that offerings of bonds by small holders are at a low ebb. The excellent condition.of the reserve bank set forth in its weekly statement this morning was mentioned as a contributing cause to the uplift. The easing in francs and sterling did not cause much selling of foreign bonds. In fact, thi3 group remained quiet around prevloius closing levels through the earlier hours of trading There were few changes of interest in either corporation or railroad bonds before miday. The market dull. Indianapolis Stocks —April 25Bid. Ask. American Central Life ..... 200 ... Amcr Creo*oting Cos pfd Advance Rumeiy Cos com Advance RumeSy Cos pfd Beit R R com 74 Belt K R pfd 53 mm . Century Bldg Cos pfd 97% _ Cities Service Cos ptd *- Cities Service Cos pfd ■ . ... Cidrens Gas Cos c0in........ 28 30 Citizens Gas Cos pfd 102 ... In liana Hotel com. ...•••■ 100 —• Indiana Hotel pfd 100 ... Indiana Pip© Line pfd SH 90 Imiiana Title Guaranty C 0... 85 „. . Indpls Abattoir pfd 45 Xndpia Gu 51 oo Indpls A Northwestern pfd.. 30 ... Inuplf A Southeastern pfd 45 Indpls $t Ry 65 60 Indpls Tel Cos com ~' 1 —. Indpls Tel Cos pf.l 90 ... Mer Pub Util Cos pfd 82 National Motor Car C 0...... .. ... Public Savings Ins Cos 13 Rauh Fertilizer pf>l 49 ... ot-indard Oii of Inti 56 67 % Sterling Fire Ins 10 7... T H. 1 A E com 2 6 T H. I A E pfd 10 20 T it Tr and Lt Cos pfd. 88 Union "IYac cf Ind c0m...... 3 Union Trae of Ind Ist pfd.. M 15 Union Trac of Ind and pfd.. mm 5 Van Camp Prod dat pfd..., _ 88 Van Camp Prod 2d pfd , 88 Vattdnlia Coal Cos com ~ Vandalia Coal Cos pfd.... .a Wabash Ry Cos com . ■ Wabash Ry Cos pfd.... -... .. 46 % Bonds Belt R R A S Y 4s. May. 1930 81 Broad Ripple ss, July 1923.. 53 ... Cent Ind Gas ss. Sept . 1931 .. —.. C ?nt Ind P Cos 6e July. 1947 . . ... Citizens Gas 53. July. 1942. . 88 % 89 Citizens Gas 7e. serial 101 105 Citizens 6t Ry 6s. May. 1933 81 85 Ind Coke A G 6s. April. 1946 90 95 Ind Hotel ss. July. 1931. 94 99 % Ir.d Hotel Cos 2d 6s. draw 190 Ind North ss. Oct 1923 ... ind Ry and Lt ss. Jan . 1943 90 ... Tnd Serv Cor ss. Jan.. 1950 ... Ind Union Trac ss. July. 1923 . ... Indpls Ab Cos 7%5. Sept.. '3l 99 102 Ir.dpls Col A So 6s. Feb 1948 96 Indpls Gas Cs. Oct.. 1952... 87% 89 Indpls L A H 5s April. 1940 96 luu Indpls & Mart ss. Jan.. 1932 40 ... Ind ps Nor 6s. July. 1932 43 Indpls A Nor ss. Mar . 1923 40 43 Indpls A 3 E ss. aJn.. 1925. .25 mm Indpls S A S E .ss. Jan . 32 30 ... . Indpls St Ry 4s Jan.. 1933.. 60 65 Indpls T A T ss. Jan.. 1933 .88 89% Indpis Un Ry 5s Jan.. 1965 94 .. Indpls Un Ry 4'jS. May. 26 95 ...... Indpls Wa 5%e. .March. 1953 06% ... Indpls Water 4%s 90 ... 'nd Pub Ser 6s. April. 1943.... . . T H I A E 5b Aug '45 .60 63 T H Tr and Lt 5s May. 1944 83 Un Trac of Ind 6s. July. ’32 54 69 Bank Stocks Aetna Trj-d and Savings Cos. .103 Bankers Trust Cos 11l m City Trust Cos 100 ... Continental National Rank... 106 mm. Farmers Trust Cos 200 „ . Fidelity Trust Cos 150 ... Fletcher American Natl Bank. 135% 144 Fletcher Sav and Trust Cos. .200 225 Indiana National Bank 250 270 Indiana Trust Cos 210 .... Live Stock Exchange Bank.... . Marion County State 8ank..150 mmm Merchants National Bank.... 311 _ , Peoples State Bank M . Security Trust Cos. 168 ... State Savings and Trust C0..109 119 Union Trust Cos 310 355 Washington Sav and Tr C 0... 150 „, Produce Markets INDIANAPOLIS, April 26.—Fresh eggs, loss off 20c: packing stock butter, 25c: spring, over 2 lbs.. 23c; fowls, 6% lbs. up. 23c: fowls under 4% lbs.. 18c: Leghorn poultry, 25 per cent discount: cocks, 13c: stags. 18c: young tom turkeys. 12 lbs. up, geese. 10 lbs. up. 12a: squabs. 11 lbs. to the doz.. $5.50 old guineas, doz., $4.50. Indianapolis creameries are paying 620 per pound for butterfat. CHICAGO, April 25.—Butter—Receipts. 6.804; creamery extra. 37c; standards, 37c: firsts. 35@35%c: seconds. 33<534c. Egg* —Receipts. 31.124; ordinary firsts. 20i 20%c; firsts. 22c. Cheese—Twins 16%e; young Americas, 17 %c. Poultry—-Receipts, 2 cars: fowl3. 24®26c: ducks 28c: geese. 16c: turkeys. 22C: roosters, 16c: broilers. 48® 55c. Potatoes—Receipts, 586 cars: Wisconsin round whites, $1®1.30; Minnesota and North Dakota Red River Ohio* $1.35® 1.50: Idaho russets. [email protected]. NEW YORK. April 25. —Flour—Dull and unchanged. Pork—lnactive: mess. $24.75(2 25.25. Lard—Steady-: midwest spot. $11.20 @11.30. Sugar—Raw, firmer: centrifugal. 6.40 c; refined, weaker: granulated. 7.80@ 8.25 c. Coffee—Rio spot. 15%@15%c: Santoe No. 4. 18% @l9 He. Tallow—Firmer; special to extra. 7% @7 He. Hay— Strong: No. 1. sl6; No. 3. sl3® 14. Dressed poultry—Strong; turkeys, 20® 36c: chickens. 22048 c; capons. 33@51c: ducks. 20® 28c: fowls. 20@34c. ducks. Long Island 20 @2sc. Live poultry'—-Weak; geese. 10® 15c: ducks. 134130c:* fowls. 28@28c: turkey*. 25®30c: roosters. 14c: capons. 45® 50c: broilers. 35@65e. Cheese—Steady: state whole milk, common to special, 15% @3sc; state skims, choice to specials. 11® 17e. Butter—Firm: receipts, 12,937; creamery extras. 38%e; special market. 39 @39%c; state dairy tubs. 32 @ 38c; Danish. 39 @ 48c: Argentine, S3 @35% e. Eggs— Steady: receipts, 29.843; nearby whit* fancy. 33® 85c: nearby state white*. 26® 32c; western whites, 28®32c: freaii first*. 24% ®29c; Pacific coast, nearby browns, 26® 86a; nearby brown*, 29®32c.

Prev. High. Low. 12:45. close. Pan-Am Pate. 48% 48 48% 46% Pan-A. Pete 3 45 % 44% 45% 44% Pacific Oil.. 48 % 47 % 48 % 47 % Pro and Ref 27 % 26% 27 25% Pure Oil 22% 22 62% 22 Std Oil of Cal 58% 57% 58% 67% Std Oil of N J 36 % 36 36 % 36 % Sinclair .... 21% 20% 21% 20% Texas Cos ... 41% 41 41% 41 Yellow Cab.. 49% 48% 48% 47% Yellow Mfg.. 66 64% 61 64% Minings— Gt North Ore 27% ... 27% 27% Am. Smelting 60% 60% 60% 61 Ai.aocnda 32% 32% 32% 82% Kennecott ... 38% 38% 38 38% Industrials— Allied Chetn.. 70% 69% 70 69 Am Can 101% 99% 101 99 Am Woolen. 65% 64% 65% 64 Coca C01a... 66% 66 66 64% Conyoleum... \4O % 40 % 40 % 40 % font Can... 40% 40% 40% 46% Davison Chem 45 43% 44% 43% Famous Play 69% 69 69% 65% Gen Asphalt 35% 34 35% 34% Mont & W.. 23 .... 23 23 Sears-Roe 84 83% 84 83% U S C I Pipe 84% 81% 84 81% U S In A1... 67% 66% 67% 66% Utilities— . -i Am T A Tel 125% 125% 126% 125% Con Gas 62% 62% 62% 62 Columbia G-.. 35% .... 35% 35 Shipping— Am Int Cor., 22 21 21% 21% In M M pfd 34% 33% 34 33 Foods— Am Sugar... 42% ' 43 42% 40% Am Beet Sg. 39% ...... 39% 40 Cora Prod., 169% 168 169% 167% C 0 Sg pfd.. 58 57% 58 56% C-Am Sugar. 32% 32% 31% Pu'ita Alegre 58,Vi 57% 58% 57% Tobaccos— Tob P (8)... 55% 55 65% 54% CORN IS MARKET LEABERAT START Initial Grain Dealings Are Ragged, By United Financial CHICAGO. April 25. —Grain trading started on the local Board of Trade today with pronounced unevenness. Investment sentiment in wheat continued badly shaken' at the start. Traders were unwilling to make extended commitments and confined most of their operations to the cash month. Firmness prevailed in other deliveries, due to a few unfavorable crop reports. Although only a small amount of grain was officially reported worked for export yesterday, private advices placed the total at approximately a million bushels of Manitoba*. Liverpool opened unchanged. Corn was the market leader. Prices opened strong and fractionally higher despite slow demand. Slackening up of country offerings and prospects of better eastern business with the inception of lake navigation aided in giving the market a firm undertone. Oats followed corn and opened unchanged to nigher. May felt the appearance of Canadian grain yesterday. Unfavorable growing weather helped deferred months. Provisions started steady with hogs and cables. Chicago Grain Table —April 25 WHEAT— Pcev. Open. High. Low Clote. close. May. 1 02% 1.03% 102% 103% 1.02 % Ju'v. 1.04% 105% 1.04% 1.05 H 1.04 % Sept. 1 05% 1 06% 1.05% 1.06% 1.05% CORN — M%y. .78% .77% .76% .77% .76% July.. -78% .78% 77% .78% 78% Sept. .77% .78% .77% .78% .77% OATS— Mav . .46% .46% .46% .46% .46% July.. 44% .44% .44% .44% .44% Sept 4040% .4040% 40 LARD— Mav. 10.72 10.72 10 65 10 63 10.72 RIBS— Mav 9.02 9.93 9.90 9 90 995 un:— Mav . .85 .85 .64% .65 .65 July- -67% .87% .67 .87% .87 CHICAGO, April 25.—Car lot receipts were: Wheat. 19; corn, 66: oats. 68. Grain Briefs CHICAGO. April 25.—Russia Is restricting cereal export* because of the recent sharp increases in prices In the home country. These increases are reported to hwve aggravated the bread shortage to such an extent tile government has been forced to use stocks intended for export to feed the population. Reports indicate a 12 per rent reduction in spring wheat acreage in the four northwestern States The abandoned acreage wUI be sown in flax. Eastern mills are grinding considerable Canadian wheat a leading Ohio miller declared. It Is not believed, however, the bringing in of Canadian wheat has materially affected the market for the domestic product. The visible wheat supply on May 1 will aggregate 52,000.000 bushels, leading grain ■tatistician# say. This compared with 61.899.000 bushels in May, 1907 the largest In fliirty years. Marriage Licenses Edgar Floyd Schicketanz, 28, toe cream maker: Irens May Bayiess. 19. Ch-tries D. Moore, 68. carpenter: Maude B. Haines. 49. *■ Earl Banner, 22, truck driver; Dorothea Kennedy. 19. Birtns - Boy* Thomas and Ruth Whited. 114 S. Tratfb. Arthur and Alma Pritchard. 2425 Churchman. Henry and Leota Fox, 1260 N. Haugh. Russell and Gladys Fleetwood, 849 Pro*pect. Harold and Elizabeth Percival, Methodist Hospital. Foster and Eva Stanley. Methodist Hospital. * Harper and Minnie Eldridge. 2139 Pleasant. Morris and Levine Noel. 1027 English, Rex and Josephine Joseph, 1123 Le Grande. Richard and Mabel Rudolph, 1230 Bridge, Thomas and Anna Conner, 1540 E. Raymond. Edward and Lottie Dorsey, 1505 Cornell Girls William and Nellie Riley, 1240 Burdsal Omar and Florence Hammell, 1206 Bates. James and Ethel Hnarr. 349 N. East. Theodore and Helen Weesner, Methodist Hospital. William and Loretta O’NoUl. 1051 River. Lewis and Agnes Monath, 1943 S. State. Paul and Mary Pernic. 704 N. W arm an. Deaths Charles Watts. 80. city hospital, acute mastoiditis. Louisa Noblitt Smelser, 74, 985 Eastern, cirrhosis of liver. Thomas F Russell. 64. 1107 Riesner, lobar pneumonia. Ransom Edmond*. 110. 2463 Columbia, arterio sclerosis. Maude M. Coleman, 45, Deaconess Hospital. carcinoma. Maggie Church. 28. city hospital, pulmonary tuberculosis. Caroline Gregory. 80. 608 E. Walnut, In. fluenza. Thomas Breedlove, 60. Long Hospital, chronic myocarditis. Mary Ann Gilliepie. 4 mouths, 2850 Talbott, broncho pneumonia. Gold and Silver By Uniteh Financial LONDON, April 23.—Bar silver, 88%<U uj 3jTd; forward ,83%4 up %and; gold bars.

THE INDIANAPOUJS TIMES

GAINOFIOTOIS MADEEYPORKERS Part of Week's Losses Recovered at $7.60. Hog Prices Day by Day Apr. 250-300 lbs. 20C8275 lbs. 150-180 lbs. 39. 7.75 7.80 7.80 21. 7.60 7.65 7.65 22. 7.05 7.65 7.65 23. 7.55 7.53 7.55 24. 7.45 7.45 7.45 25. 7.60 • 760 7.60 Regaining a part of the week’s losses, hog prices advanced 10 to 15 cents In trading at the local livestock yards today. General sales of good stock were made at $7.60, as compared to Thursday’s average quotation of $7.45. With Klngan out of the market, the price increase was largely attributable to activity of outside account and the smaller number of fresh hogs in the pens. The demand from all sources promised to be great enough to effect a good clearance of the yards on the early market in contrast to the two previous days, although a satisfactory clearance was made Thursday in the face of more than 2,000 holdovers. A few lots of choice hogs commanded a nickel premium and sold at $7.65. Extra heavy weight stock was still slightly out of line and was selling at $7.60 to $7.60. Prices of pigs held generally steady and traders reported a somewhat unsatisfactory market, with quotations down from $7. Light smooth packing sows were steady salo, with a few bringing close to $7 and the bulk moving around $6.75. Roughs were priced down from $6.50 to $6. Receipts. 6,000 fresh hogs and 1,384 carryovers. Thursday’s predicted off cattle market failed to materialize to any great extent although the market was soft in spots and today’s sales were holding generally steady with Thursday. The local market is at the present time inclined to be weak, but is holding up at steady prices because of light receipts during the past few days, according to the opinion of traders. Cows are in steady demand, as is also the case with medium to good heifers, but the poorer grades are rather a drag on the market. Receipts, 600. Prices for calves were 50 cents higher according to Wednesday’s early market, but held generally steady with Wednesday's close. Trading was active and the demand for veal la gradually increasing causing calves to regain a good part of their recent losses. A few odd fancies sold at the top price of sll and bulk of the good stock found no trouble In commanding an average price of $lO to $10.50. Receipts of sheep and lambs were light and prices in most cases merely nominal. Spring lambs are quoted from sl2 to sl6. A few heavy wooled sheep sold Thursday around $8.50 and today's price held steady. Yearling lambs are Quoted down from sls. Receipts all told numbered hardly 100. —Hog*— Choice light* -.-$ 7 60 lifht mize6 • 60 Medium mixed 7.00 Heavy wwrliu . 7 50® ~60 T’.uik of sale* - 760 Top 7.65 Packing sow* @ 7.00 pijjs C.OO'a 7.00 ■ p~~~— Prim* com-fed steers. 1,000 to 1 SOO lbs . . 5 9 .00® 11.00 Good to choice steers, 1.000 to 1.190 lb* 8.50® 9.00 Good to choice teer*. 1.000 to 1.200 U •. 7.60 <3 9.00 Good to choice steers. 1.000 to 1.700 !b 8.05 C 7.50 Common to medium itrcr*. 800 to 1.000 lb* 6.00 7.00 —Cow* and Heifer*— Good to light heifer* $ 6 Good heavyweight 700 I 800 Medium heifer* 6.00 0 7.00 Common heifer* 3.mi'll 000 Fair cow* 6 0011 7.25 Cutter* mm— 2.73 4* 3.23 Canne-* - 2.7oii* —Bulla--Far cy butcher bulls S 5 000 6 00 Good to choice butcher bull*. 5 OOiJ 5.50 Boiopna bull* . 4.25 41 4.75 —Calve*— Choice veal* slo.oo® 10.50 Good veal* 8.60© 9 60 Lightweight veal* .......... 700 ® 8.00 Common heavle* 5 00® 7-00 Top 11.00 —Sheep nod Lambs— Extra choice lamb* sl3 000X5 00 Heavy lamb* 10.00 0 13 00 Cull lamb* .. 6.00® 10.00 Good to choice ewe* . - 5.00 41 8.30 Cull* 3 004$ 500 Sprinff lambs 12.004$ 16.00 Other Livestock CHICAGO. April 23.—Cattle —Receipts, 3.000; market generally steady, slow; kiliinsr quality sod steer* largely medium; bulk. $8.25419.30; few. except sizeable string experimentally fed steer*, eligible to exceed S10: shipping demand generally rural; stockera and feeders scarce, steady, weak, 150 to 26a up Sheep—Receipt, 10,000; market comparatively *!ow; generally strady; denirablo, gat wooled laraln. sls 75010 50: early top, $16.50; choice lambs, $14,500 14.75: good to choice fat wooled ewes, $8 30 09.30; early bulk spring lambs. sl7 0 22. Hog*—Receipts, 27,000: market string. 6c higher: heavy, $7.45; bulk, $7.10 07.40; heavyweight, $7 150745; medium weight, $7.10 0 7.40; light weight. $6,750 7.35; light light*. $5 73 0 7.15: packing sows. *mooth. $6.7506.90; packing sows, rough, $6.6006.76; slaughter pig*. $4.50 0 6. 00. TOLEDO, April 25.—Hogs—Receipts, 800; market 100 higher: heavies, $7.6507.70: mediums, $7.660 7.70; yorkers. $7,500 7.65; good pigs, $6.5007. Calve*—Market alow and lower. ' Sharp and lamb*—Market steady.

CLEVELAND, April 3ft.—Hosts —Receipts. 4.500; market, Xsc lower; Yorkers, $7.60@ 7.65; mixed, $7.60(37.65; mediums, $7.05; pig's. $7.36; rouirhs. $6.75: stags, $4.50. Cattle—Receipts, 200: market, slow and unchanged. Sheep and lamb*—Receipts, 800; market, steady; top. sls. Calve*—Receipts. 600: market, slow; top, sll. PITTSBURGH, April 25. Cattle - Receipts light, market steady; choice, 810.50 @11; good, $0.26(310.25; fair. $7.25® 8.50: veal calves, slo@ll. Sheep and lambs—Receipts. 2 double-decks; market slow; prime wethers. $8 60@9: good. $M@ 8.25; fair mixed, so@7; lambs. sl6 @22. Hogs—Receipts, 25 double-decks; market steady; prime heavy, [email protected]; mediums, [email protected]; heavy Yorkers, $8(28.06: light Yorkers. [email protected]; pigs. $6 50@7; loughs, 85.75 0 0.26; stags, $.2.25(3 3.75. CINCINNATI, April 25.—Cattl* Receipts, 1,100: market weak: steers, good to choice, $8 @lO. Calves—Market steady; good to choice, $8 @10; a lea at $10.60. Hogs—Receipts. 4,000: market steady; good to choloe packers and butchers. $7.75. Sheep —Receipts, 850; market steady: good to choice, $7 @lO. Lambs—Market steady; good to ohoiae, [email protected]; springers, sl3 <320. i EAST BUFFALO. April 25. —Cattle—Receipts, 325: market, active and steady: ((hipping steers. $9.25® 11; butcher grades, [email protected]; cows. $236.73. Calves—Receipts. 2.000: market, slow, weak; cull to choice, $4311. Sheep and lambs—Receipts. 8,000; market active, lambs steady, sheep dull to 75a lower: choice lambs, sl6 @l7; cull to fair, [email protected]: cltoped lombs, $9.50@15: yearlings. $9.50® 12.50: sheep ,[email protected]. Hogs—Receipts, 7,200: market, active, heavy 10c higher, pigs 25c higher; Yorkers, $7.50® 8; pigs, $7.25® 7.30; mixed, sßj heavy, $8; roughs, s6@ 0.76; stags. $4 @4.60. KANBAS CITY, Mo., April 25,—Oattle— Receipts, 1,000; aalves, 100: killing classes around steady; receipts mostly Taxas; Texas native steers in native division, $6 @7.26; beef cows and heifers, [email protected]; practical top veals. $8.50; no stackers and feeders of consequence on display. Hogs—Receipt*. 8.500: market steady to 5c up: packers and shippers, top, $7.15; some held higher; desirable 210 to 280-po*ni;<! average, $7.10® 7.15: bulk of 180 to 200-pound averages, [email protected]; packing sows mostly [email protected]. Sheep—Receipts. 4,000; limb* ateady to 15c lower; 80-pound Colorado wooled lambs. sl6 80; locally led clipped., weak to lovwt rly MkiMk

‘BOSS’ MURPHY OF NEW YORK DIES (Continued From Page 1) Tammany Sachem In 1902. Taking control of the organization founded by the late Richard Croker, he welded it Into a machine of nation-wide strength. Attacked by Newspapers Attacked on all sides by newspaper* and organizations he went quietly about his political path, choosing ‘candidates from the lowliest of job-holders to Governors. His success lay in picking popular candidates—friends and foes both admit He was retiring, seeking no friends and no publicity. The most recent victorious fight was waged against William Randolph Hearst a man with whom he had formed many coalitions. In the municipal judgeship elections in 1923 Hearst and Murphy split—and war to the hilt was declared. Hearst’s candidates came out, trailing far in the rear once more showing Murphy’s skill. Death of Murphy leaves temporarily vacant one of the most powerful political positions in the country. How that vacancy is filled will have net only a tremendous effect upon the damain of New York City and State, but it will cast its spell over the Democratic national convention next June. Al Smith First Choice Two men immediately suggest themselves as possible successors of Murphy. First of these is Governor Al Smith now or up to now a candidate for the Democratic presidential nomination. Acceptanace of the Tammany toga automatically would eliminate Smith from the role of office holder to maker of 'office holders. The other man mentioned is United States Senator Copeland. Smith, however, more than Cc peland might be regarded as 100 per cent of, for and by Tammany. Hearst Opposed It is possible that William Randolph Hearst, after his political debacle in the last city and State election*, may attempt to smash Tammany Hall once more and reinstate himself as a power in Democratic councils here. He would not welcome Smith as Tammany chief. Murphy's death breaks the rank* of the now famous political triumvirffite —Murphy, Brennan and Taggart—but with an assured successor who will carry on Murphy's policies, there is little likelihood that the Xew York. Illinois and Indiana leaders will not. continue their close political affiliations which in the past have made or broken the aspirations of potential Presidents. Smith is a close friend of both Brennan and Taggart, has been with them on many of th*ir vacation trips when Murphy was along, and understands the political language they speak. Against McAdoo Smith, like Murphy, favors modification of the Volstead act, and, like Murphy, would not favor nomination of William Gibbs McAdoo. Briefly therefore, Murphy’s death will affect the national Democratic political situation this year largely in that it may mean the voluntary elimination of Al Smith from the next national Democratic ticket. Locally the death opens the door to some leader who will come into riches and unlimited power—both of which In course of time will cast a tremendous influence on politics over an area far beyond the confines of Xew York State. WIDELY KNOWN IN STATE Murphy Frequently Attemiled Meetings at French Lick. Charles F. Murphy was widely known in Indiana. He. George E. Brennan of Illinois and Thomas Taggart, Indianapolis, were known as the “Big Three” who controlled the destinies of the Democratic party. The trio frequently met at French Lick, Ind., where their headquarters was supposed to be. Murphy was at French Lick last Xovember with Taggart and Brennan. It was said that Murphy attempted to enlist support of Taggart for Governor Al Smith of Xew York for the Democratic nomination for President, but that Taggart declined, favoring Senator Samuel M. Ralston of Indlana. Taggart received a dispatch upon Murphy’s death a short time after lt occurred. Taggart is at French Lick. Over the telephone Taggart dictated this statement: "Mr. Murphy has been a friend of

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Smith Prostrate By United Prest ALBANY, N. Y„ April 25. Almost prostrated with grief. Governor Alfred E. Smith today could hardly discuss the death of Charles F. Murphy, Tammany leader, and close friend of the Governor. His eyes filled with tears, his voice choked with grief and his face twitching, all the Governor could say was: . “It’s awful. It’s awful. No man had a better friend and no man could have such a friend as he was to me.” The Governor refused to beileve the report of the death and immediately put in a telephone call for Tammany Hall and police headquarters in New York. He received verification about 11 o’clock. Then he completely broke down.

mine for a great many years, as the head of Tammafy Hall. “i think that under the Tammany administrations New York had its best government. "In other words, when Tammany was defeated upon various occasions I believe New York invariably was less efficiently governed. "Mr. Murphy was a man who never talked very much, but he was very intelligent. He was very generous and always loyal to his friends, and I am sure that New York City and* his friends elsewhere will deplore his sudden and untimely death." ARGUMENTS ARE - SET FOR MAY 1 INWATERHEARING Evidence in Injunction Suit Completed in Federal Court, Hearing of evidence in the injunction suit brought by the Indianapolis Water Company against the city and the public service commission ended today in Federal Court before Judge Fardinand A. Geiger. Arguments wlft be heard May 7. The company is asking the commission be restrained from hindering establishment of increased rates and setting a valuation of less than $lB,600,000 on the company's property for rate-making purposes. Court Sees Difficulty “Neither side has adhered to presenting one method of valuation before the court,” Judge Geiger said today. “It will be a problem for the court to find even an approach to reconciliation of divergent figures offered as evidence.” Walter S. Bemis, Chicago, consult ing engineer for the city, today suggested the company should replace its hydraulic power plant on Water St. with a steam plan* at Riverside. This would do away with the canal beiow Riverside and make possible a cut in valuation of the company's property, he said. Objection Sustained Judge Geiger sustained an objection to introduction of his suggestion as evidence. Bemitt valued the company’s property on reproduction costs, less depreciation at $10,009. Carleton E. Davis, water company manager, and Edward W. Bemis, Chicago, consulting engineer, also testified briefly. EMPTY PROMISES SCORED Kdgar ,D. * Bush Says flower Tax Clamor Is Justified. By Tim** Special ELKHART, Ind.. April 25.—" The popular and just clamor for lower taxea in Indiana must be met by something besides empty promises,” declared Edgar D. Bush, Salem, candidate for Republican nomination for Governor, in an address Thursday. "My challenge to Republican candidates for Governo- to limit campaign expenses, unheeded by the socalled leading candidates, would have placed the successful candidate In position to work for tax reduction.”

OFFICIAL BOUGHT NOTE-TESTIMONY (Continued From Page 1) ter said he would "make it a special point” to see that the State deposit was increased. Further letters from the Governor asked renewals erf the notes. H. C. Almy, assistant cashier of the Delaware County State Bank of Muncie, testified that he had discounted a $2,500-note, bearing the name of J. L. Morrison, in Jqly, 1923. He said that the date of the note appearfed to have been changed from 1922 to 1923, and that the revenue stamp showed cancellation date of Sept. 29, 1922. * More Letters Introduced Percy Smith, vice president of the First National Bank of Rochester, identified correspondence covering more than three months in 1923, when he said he was trying to collect $5,600 on notes discounted for the Governor. The notes were signed “A. Messman & Cos.” and “Morgan County Stock Faxm Company,” both of which the government contends were the sole property of the Governor. The Governor's letters frequently referred to the companies as “my customers” and stated that he was “trying to get the parties to come through.” The indebtedness finally was reduced to sliooo, Smith said. John F. Hall, vice president of the American National Bank of Vincennes, identified letters in which the Governor said: “My indorsement is worth $1,500,000.”

L. B. Cos?, cashier of the Farmers National Bank of Wadesville, testifieef that Governor McCray took up a note of $3,000, with anew note for $1,500 and a personal check for $1,500. The check, was returned marked “insufficient funds,” Cox said. Other 'Witnesses Other witnesses were Patrick Joyce, cashier of the Chapin State Bank of South Bend; George Borcherding, president of the Mutual Trust and Deposit Company of New Albany, and F. M. McClariahan the Napoleon State Bank of Napoleon. H. E. Fetterhoff. of tbe Central Bank of Whiting. R. N. Fillbeck, president of the Terre Haute Savings Bank; Walter E. Schrage. president of the Bank of "Whiting, and J. M. Barnard, cashier of the Commercial Bank of Daleville. Practically all the witnesses were asked the routine question of whether they were acquainted with the names signed to various notes such as “Herriman, “Messman,” “Hickory Islfuid,” “Belle Fourche,” etc., which were given by the Governor as security to many personal notes. All sai<Lthey £id not know anything about the identity of the notes’ makers or their financial responsibility, except as given them by the Governor. “Whet* Is Middletown?” H. L. Turner, cashier of the Middletown State Bank, one of the numerous bankers called, appeared to l.ve difficulty in speaking loudly enough. “Where is Middletown?” asked Elliott. “About six miles from Anderson,” the witness replied in a low voice. “Speak out, so the jury and every-

BULBS Given Away! ways. Everybody loves the tuberose. ’m**e* m ' -Of Two bulbs given. You Are Going to Buy Something for the Garden or Lawn This Week Then why not buy them at one of our stores and get our gift. We mention below some of the things we have, just to help you to decide what you will buy. Every kind of Farm Seeds, Seed Potatoes, all Garden Seeds, all Flower Seeds, all Sprint: Bulbs, Fruit T.rees and Plants. Shade and Ornamental Trees, Bose Bushes. Shrub*. Perennials, Vines, Fertilizers for Garden and Lawn, Pooltby Feed, Bby Chicks, Bird Seed, etc. We Manufacture Poultry Feed and Will Save You Money. SOME BARGAINS GOOD TILL MAY 2

Tulip Trees—lndiana’s official tree. Regular price $1.50, for no this special sale....HOC Catalpa Bunget Also called Umbrella 'Tree. Regular price $2.50, for this special nn sale JU Cherry Trees Black Tartarian, Dye House, Gen. Wood, Windsor. Regular price SI.OO, sale price I DC Also some extra large Uarly Richmond and Montmoranci ■ OQ/ cherry Grape Vines—Agawam, Catawba, Moore’s Early, Niagara and Worden. Regular price Oft80c, sale price hUC Concord* Regular price 30c, * r sal© price . IDC Japanese Iris Eight varieties; fine expensive kinds. Regular prices 25c to 50c, or sale price CDC

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We Deliver Reasonable Size Order*. Telephones MA in 4740, 474%

body can hear you,” admonished Judge Anderson. Farm managers, business partners and employes of McCray, whose names appear on notes on which he obtained money from banks, probably wi'll be the final witnesses for the Government. Elliott; desires to prove by these witnesses that their names were used without their knowledge. The first of these witnesses is expected to take the stand late today or Saturday. WiUiam F. Ranke, secretary of the Dime Savings and Trust Company of Ft. Wayne, the second Government witness .today, testified that Governor McCray arranged affairs so that the Ft. W T ayne bank received a State deposit March 17, 1922, On that date the bank was opened, the witness said, and in April the Governor applied for and was granted a personal loan of $1,750, secured b? notes signed A. Messman & Cos. and the Morgan Stock Farm. William B. Barr of the National Bank of BicknelJ, who testified the Governor owed his bank money, was the first witness. "Influence” Is Mentioned That Governor McCray borrowed $20,000 from the Studebaker Bank of Bluffton and then used his influence to obtain passage of a bill creating a separate judicial district in Wejls County was indicated by correspondence between the Governor and tha bank, identified by R. S. Todd, bank president, Thursday. During the last of the Legislature, Feb. 19, 1923, Todd wrote McCray, referring to discount of about $19,090 worth of the Governor’s paper, and winding up with the following sent ence: “I am also very pleased to note ths very favorable tenor of your letter in reference to the separate court bill for 'Wells County, and I want to assure you that I will consider the signing of the bill when presented to you a distinct personal favor.” Bill Was Signed , The bill passed the Legislature and was signed by the Governor. Judge Albert B. Anderson ordered R. L.*Wentz, teller of the Farmer# and Merchants State Bank of Attica, to return and tell the cashier of tha, bank to appear today. Wentz came in place of the cauhier, who was subpoenaed. / "Tell the cashier to come down her* or I will send a deputy marshal after him,” Anderson said. Charles Zeigler, chairman of tha State highway commission, is president of the bank. J J Kiser, vice president of the Meyer-Kiser Bank, testified that tha bank floated securities of the Governor in 1921 and that in 1923, aftel the Governor had become involved financially, the Governor admitted that the securities represented Uttl* more than his own personal responsibility. WHITING WILIJAMS IN CITY Whiting Williams, writer and leo* turer on labor topics, will give a free lecture tonight on "The Mind of ths Worker," at Caleb Mills Hall, Shortridge High School, under the auspices of the Association of High School Teachers and the Indianapolis school board. Girl Missing From Home Mary Church, also known as Marj Pack, 20, is reported missing from th Florence Crittenden home, 2044 Ni Illinois St. She is described as having brown hair and eyes and wearing a plaid coat and black and white hat.

German Iris —Eight fine varieties. Regular price $1.50 a dozen; nft sale price, dozen.^i.UU / Spirea Van Houttei— Regular price 50c, $4.50 dozen, now *a 30c, dozen yJ.UU

Ever-Blooming Roses —25 varieties to select' . from. All classes anr f\ all colors. See our list / and get our prices. Jtf" rfc V I Our rosebushes are /¥ ful varieties. Laj-ge,JL clear pink, at, each, Z3C -

BUUB COUPON — Clip this coupon and bring it to either of our stores, Saturday. April 2ft. t* Friday, May 2, for the bulb* of your choice. We limit this offer to customers—but the customer who buys ft nickel packet will be as the one who spends dollars. w

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Cal. Privet—lß to 24 inche*. Regular price, dozen, 75c; 100, $6.00. Xow, dozen, #i- as 50c; 100 ..fD.UU Can n a s—-17 vartetlML best named kinds and large meaty roota; regular price, doz„ 51.00; now ~ldC