Indianapolis Times, Volume 35, Number 302, Indianapolis, Marion County, 1 May 1924 — Page 11

XhI'KMM V, MAY 1, 1924

REDISCOUNT RATE REDUCTION STARTS STOCKS CLIMBING Leading issues Show One to Two-Point Gains at Opening. RECEDE IN FIRST. HOUR initial Buoyancy Fails to Last and Industrials Sell Off. The WALL STREET JOURNAL NEW YORK, May I.—Under stimulus of the reduction in the New York Federal Reserve Bank's rediscount rate to 4 per cent, the stock market was active and stronger at the opening. Leading stocks showed gains of from 1 to 2 points, while Davison Chemical on a split opening from 52 to 51, was up 3*a end 2% points. American Can showed the best appreciation among the industrial leaders. First Hour Professional operators professed disappointment over the failure of the general list to follow up the initial display of buopancy created by the Reduction In the bank rate. Pressure was renewed against the industrial leaders at the end of the first hour and quick recessions took place from the opening levels. Baldwin yielded 2 4 points to 109 and Studebaker 1% to Sl%. while other industrial leaders sold off proportionataely. But the ephemeral view taken by the inveterate speculator had no influence on the belief of important banking interest that the progressive step of the local rsgional banking institution was bound to have a far reaching effect on investment securities. Second Hour Bears were blocked In their 11 o'clock drive against the industrials. Prices steadied and vigorous operations for the rise were resumed in various Issues. American Can headed the mow, selling at 102 in response to the dismissal of the Federal trade commission's suit against the company. New highs on rebounds were also attained by Corn Products at 172%, Davison Chemical at 514, PanAmerican A at "iS% and B at 46%. Pan-American’s strength was due to revision of earnings estimates for the current year. Not many months ago these issues in ia24 were around $4 a share. Now with fuel oil at record prices estimates are as high as sl2. Fourth Hour Stocks continued to gain ground in the early afternoon dealings and the whole list displayed a confident tone In the final hour. Investment rails were in special demand under the leadership of Atch’"'>n which made a new high on the move at 102. High grade industrials were also actively bought. General Electric reaching a new high on the rally at 217, Baldwin at 111%, Steel at 98% and American Can at 1024. Strength in some of the best rail issues was the natural sequel to the reduction of the rediscount rate which indicates a plethora of new money seeking employment. Final Hour Stocks continued to act impressively through the last hour and a fresh buying movement in closing dealings carried leaders im onew high ground on the recovery. S'andard Oil of California reached 59 4, American Tobacco 144, General Electric 2204. Baldwin 112, Steel 99" and American Can 103%. Withs s showing a tendency to back up in this, with gold pouring into the country at the rate of more than $3,000,000 a month, and the statements today from Secretary Mellon doubting the ability of the change In the rate to aid business greatly, it was evident that the money market was more or less unofficial. Twenty leading raiis Wednesday averaged 81.06, up .16. Twenty leading industrials, 90.63, off .02.

Local Bank Clearings Indianapolis bank deariners today were $2,948,000. Bank debits were $5.167.000. New York Money Market By United Financial NEW YORK. May I.—Funds poured into the market from interior points after the opening of business this morning. The 414 per cent renewal rate for call money quickly eased to 4 per cent. Commercial paper was steady, with prime names at 4-* to 4% per cent and other good names quoted at @4 5 discount. Time accommodations were again dull, with the range continuing to 414 to 4 per cent. Acceptance rates were lowered by dealers this morning. the cut being H to 14 oi 1 per cent, in line with the drop in the rediscount rate of the local reserve bank. Foreign Exchange By United Financial NEW YORK. May I.—Foreign exchange closed higher: Sterling, demand. Si.3B \. French, demand. 6.49 *>c. Lire, demand. 4 48c Belgium, demand. 5 40Lc. Marks. 4.210 billion to the dollar. Czeeho, demand, 2.93 c Swiss, demand. 17.76 c. Guilders, demand. 37.47 c. Spain, demand, 13.76 c. Sweden, demand. 26 36c. Norway, demand. 13.81 c. Denmark, demand, 16 86c. demand. 2.04 *-* o. In the Cotton Market By United Financial NEW YORK May I.—The cotton market opened steady. July. 27.80 c off 5 points, and October. 24.25 c. off 5 points The cotton market was idle and fluctuated ■ around the previous night's close. Some big ; domestic mills and southern spot are ex- j tremely bearish: Texas and Oklahoma points I reporting much replanting necessary: Norden j 6 Cos. forecast acreage increase 4.17 per cent: technical position of the market is considered strong Cloth prices continue to harden in Manchester. i Task Wagon Prices (Gasoline prices do not include State tax f 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 Flash. 22c; Standolind aviation. 23c. KEROSENE—Cryslaline. 12.7 c a gallon: Moore Light. 15.5 c; Arelite, 12.7 c; Perfection. 12.7 c: Solvent. 35c. NAPTHA—Lion Power Cleaners. 22.6 c a gallon: V. M. 4 P„ £2.5c: Standolind Cleaners. 22.5 c. Hay and Straw Trade By United Financial NEW YORK. May I.—Hay and straw receipts are slightly heavier, but prices remain •bout unchanged. There is no number 1 hay available, and the lower grades sre moving fairly well. Large- bales of timothy No. 1 Quotable $33 nominal: No. 2, No., 3. 829028; small bale* timothy No. 2. $290 4*l, No. 3, $25 @ 27; large bales rye straw.

New York Stocks •By Thomas * McKinnon) ————- —May 1—

Railroads— At Prev. High. bow 1:30 close. Atchison .... 101 4 101% 1014 101 B & 0 53 ... 52% 524 C 4 0 74 4 74 4 74 4 74 4 CIS W... 61% ... 51% 514 C. R & P... 23 4 23 4 234 23 Erie Ist pfd 314 314 314 31% Gt North pfd 55 4 '... 55% 50 Lehiffh Valley 40% ... 40 4 40% Mo Pac pfd. 40% 30’. 40 4 38 4 N Y Central.loo% 1004 100% 100% Nor Pacific... 514 514 51% 514 Norfolk &W. 124 4 122 4 123 4 122 4 P-Marqvette. . 40 4 40 46 4 40 Reading: .... 52 ... 52 % 62 4 Sou. Railway 53% 52% 53% 63% Sou Pacific. . 88% 88% 88% 88 St. Paul pfd. 24% 23 4 24 4 24 U Pacific 130 Vi 130% 130 4 130 Wabash pfd.. 454 444 454 44% Rubbers— U S Rubber.. 20 28 4 29 29 Equipments— Am Loeomo.. 71 4 . . 71% 71% Baldwin boo.lll 4 109% IU4 110 Gjen. Electric.2l6 213% 210 213% Pullman . ..1144 . - 1144 1134 Westinsrh El. 00% 60% 604 00 4 Steels— Bthlehem.... 48% 43 48% 48 4 Colorado F.. 34% 33% 34% 33 4 Crucible .. 52 % 51 4 52 4 51 4 Gulf States. .07 4 07 AC 4 R iron & S. 45% . 45 44% C. 9. Steel.. 98 4 97% 98% 98 Minings— Int Nickel... 12 . 12 124 Coppers— Am Smelt.... 02 4 614 60 % 60 4 Anaconda . . . 32 % 32 4 32 % 32 % Kennet-ott .. 38% 37% 38% 38 4 Motors— Chandler M.. 44 4 42 4 43 4 43 4 Gen Motors. 13% 13% 13 4 13% Max M (A > . 40 ... 4040 4 Max M ißi. 104 ... 104 104 Studebaker... 83% 81 4 82 82%

WHEAT AND CORN AT HIGHER MARK Oats Sag—Provisions Slightly Improved. By rn'trd Finnnrial CHICAGO, May I.—Wheat tin.l corn ruled lifgher at the close on the Chicago Board of Trade today. Cats sagged. Wheat's strength was directly attributed to good miller demand and smaller deliveries on contract than expected. A large part of today’s trading was confined to changing over. Some wheat delivered on contract came back on the market, but that market showed more strength because of export business. Crop news was favorable everywhere. Corn gathered strength from wheat and better cash business. Changing operations were in evidence. Crop news was generally favorable, private advices predicting a marked increase in acreage. Demand all around improved. Oats sagged on account of favorable crop advices and poor demand. Trade in provisions after midday was light an at a slightly higher margin. Demand both foreign and domestic was improved. Chicago Grain Table —May 1— WHEAT— Prev Open. High. how. Close. close Mar.. 103 104 4 1.02 4 1.04 1.03% July. 1.05% 1.06 1.054 106 105% Sept.. 1.06 4 1 07% 1.06% 1.074 1.06% CORN— Mav.. .76% 77 .76 4 .77 .76 4 July.. .78 4 78% .77 4 .78% .78 4 Sept . .78 .78% .77% .78 4 .78% OATS— May . .46 4 .47 4 46% .46% .46 4 JuiV.. .44 4 44% .44 4 44 4 44 % Sept.. .40 4 .40 4 .40.40 40 4 CARD—■ Mav 10.55 10 60 10 55 10 57 10 62 RIBS— May 9.85 9-87 985 9.85 9.75 RYE— Mav. .63% 63% .63 .03 % .63% July.. .66 4 66% .651, .66% .66% CHICAGO. May I.—Carlot receipt# were: Wheat. 11: com. 167, oat*. 85. CHICAGO. May I.—Wheat—No. 2 hard. 81.00% ft 1.13% Com—No. 2 yellow 78% '7s-%<-: No. 3. 75% ft 77 %c: No. 4, 74% <•: 754'-: No. 6, 73 %c: No. 2 mixed. 77% ft 78c: No S, 75 ft 76 %c: No 4. 74 % ft* 75c; No. 6 73%e; No. 3 white 76%'77c; No 4. 75 %c; No. 6. 72c. Oats—No. 3 white 40 4 m 48 40: No. 4. 4%<®17%e. Barley—74 <4 88c. Rye—No. 1. 65c. Timothy—ss® 7.50. Clover—sl3.soft 21. TOLEDO. May l.—Wheat—slll4 1a 1. ’2 4 . Corn—B2 1 i V, 83c. Rye—o7c. Oats —53 4%54 4c. Barley—77. Clov-rseeil—--510.75: October. 81185. Timothy—Cash amt May. 83.60: September 83.95. Alsike—--59.50 August. $9.75. Butter—4o ft 41c. Eggs—2o ft 22c. H ay—s3o.

Grain Briefs CHICAGO. May I—Despite big changing operations for more than a week leaiing observers estimate that over 2,000,000 bushels of wheat will be delivered on May contracts today. Progress of winter wheat is generally satisfactory the Government weekly survey says. Early seeded spring wheat hag been favorably affected by increased moisture. Eastern short interests active In buying side have completely reinstated their lines with purchases of grain yesterday. Farm reserves of wheat in Canada April 1 offhiall.v reported at 70.550.000, compared with 54 800,000 bushels last year. Total stocks are 202.500.000 bushels compared with 139 800.000 last year. Wheat sentiment has undergone a change. When hedges commence to come in against new- winter wheat, export buying will have to develop to prevent sharp declines. Domestic oats shipments remain light, while domestic requirements show general improvement. Raw Sugar Market B” United Financial NEW YORK. May I.—Raw sugar opened lower with September. 4.51 @4.52c: March, 3.56 @ 3.57 c. Gold and Silver Bn t nitcd Financial LONDON. May I—Bar silver 32s 15 16d. up '-id: forward. 32s 15-16d, up !sd Gold bars. 94s 2d. up Id. THREE STRIKES AVERTED Plumbers, Hod Carriers and Steamfitters Receive Increases. With settlement today of a threatened strike of steamfltters, 'agreements for the coming year were j reached between contractors and all building trades unions affiliated with the Building Trades Council. Strikes of plumbers and hod carriers was averted by a last minute settlement Wednesday. Steamfitters and plumbers received the same scale, $1.30 an hour for the first three months and $1.35 for the remainder of the year. Their old scales were $1.22*4 an hour. Hod carriers, who had asked 97*4 | and $1 an hour, settled at 82 and 87 V 4 cents. Their old scale was 72*4 and 75 cents an hour. The agreements I went into effect today. Stricken in Bus Terminal A man, thought to be E. Huaton, Beech Grove, was taken to city hos'Yas fotJnd

Prey. High. Low 13:48. eloaa. Stewart-W.. .. 67 65% 66% 06% Timken 36 4 .... 34 4 34% Yellow Cab.. 43% 41 4 43 42% Yellow Mfg:.. 53% 51 4 62 4 62% Oils— Cal Petrol.. 23% 23% 23 >4 23% Costlen 32% 304 31% 31 4 Houston Oil. 04% .... 04% 64 Marland Oil.. 34% 33% 33% 34 P-Am Pete.. 48 4 47% 48 47% P-Am P ( B).. 46 % 45 % 46 % 45 % Pacific 0i1... 48% 48 48% 48% Pro & Ref. . 25 % 24% 24% 25% Pure Oil . . . 2S % .... 22 22 % S Oil of Cal . 69% 68% 59 58% S Oil of N. J.. 36% 35% 36 35% Sinclair .... 20% 20% 20% 20% Texas Cos.. , 40% 40% 40% 40% Trans Con Oil 4 % 4% 4% 4% Industrials— Allied Cham. 69 % 69% 69% 69 Am Can ... 102% 100% 102% 100 A H & L pfd 53% .... 52 4 52% Am Woolen.. 65 % 64% 05% 64% Coca C01a.... 66 % 05 05 % 04 % Congoleuin... 38% 36% 37% 38% Cont Can .. . 47 % 47 % 47 % 47 % Davison Ch . 52 50 %51 4 48% Earn Players. 70 69 70 09 Gen Asphalt. 35% 34% 34 Mont & W... 23 22% 23 22% Saars-Roe.. . . 83 82 % 83 82 % U S C I Pipe 90% 87% 89 69 U S In Al.. 67 60% 66% 06 I'tmtleo— Am T & T. . 126 % 125% 126 Vi 125 4 Con Gas 62% ... 02% 02% Columbia G.. 35% ....... 35% 35% Shipping— Am Int Cor.. 21'* .... 20% 20% In M M pfd. 33% 33% 33 Foods— Am Sucar... 42% 4(1% 42 41 % Corn Prod.. 172% 172 172% 170% C C Sc pfd.. 58% 57% 67% 57% C-Am sugar.. 32 31% 32 31 % Punta Alegre 57 % .... 57 67 Tobaccos— Tob P (B>.. 50% 55% 60% 56 CURB STEADY TO FIRM: . OIL ISSUES IMPROVED Few Features But General last- Shows Better Tone. By I nil cd Press NEW YORK, May I.—The undertone of the curb market was steady to firm throughout the afternoon, with the oils fractionally improved as far as the more speculative issues were concerned. Tehere were fewer features than usual In today's market but the list as a whole showed fair improvement. Solar Refining received a setback but the general run of the Standard Oils did not go begging. A toppling of the market Gillette Safety Razor after gains had been built up earlier in the week was the principal feature of the industrial group. On the constructive side, Borden, AnAerican Light, Kresge and Du 1 ilier were prominent. The metals were strong and active. The strong demand ruling on the big board enabled some of the curb issues, notably the public utilities to move higher.

LIBERTIES SOAR AFTER RATE CUT Initial Quotations Up 3 to 7 Points. By United Financial NEW YORK, May I.—One of the I earliest tangible effects of the cut in the reserve bank’s rediscount rate yes terday afternoon was the sharp rise in Liberty bonds this morning. There was an appreciation of prices at the start, with initial quotations up three to seven points, and before midday new highs for 1924 were scored by every item of the list. With member banks now able to avail themselves of credit at the Federal Reserve Bank of New York by [paying 4 per cent instead of 4V4. an easier condition of affairs will rule in the money market. Millions which have been held back by banks and corporations will be shifted to the investment market. Liberty bonds naturally offer excellent opportunity for the bank or corporation with surplus funds to invest in the highest type of security with the added attraction of tax exemtpiori. Private holders of Liberty bonds throughout the country now may indulge in the comfortable feeling that their bonds are worth more than they paid for them. BONDS CONFIDENT WITH LIBERTIES AT NEW HIGHS Cheap Call Money Rate Inspire** Additional Support. By United Financial NEW YORK. May I.—The new highs for the year reached in the Liberty bon dlist during the morning, as a direct result of the cut in the rediscount rate here by the reserve bank, inspired confidence in the bond market as a whole. Cheap call money, which went to 3V4 per cent during like final hour of business, fetched up additional support. The foreign issues were firm, with the French issues showing some new activity. Serb 8s equalled the previous high of 82%. Pool operations in the Seaboards featured the rail group, which was decidedly more active than usual. The Seaboard adjustment 5s touched anew high. Industrial bonds were irregular. The new low for the rarely traded National Acme contrasted with some [ spurts in the metal and sugar issues.

Business News WASHINGTON, May I.—Following the action of the New York Federal Reserve Bank yesterday in reducing rediscount rates on paper and other securities from 41* to 4 per cent, it is expected that the Boston and Philadelphia reserve banks will apply for similar reduction, it was stated at the treasury today. Despite the fact that pri<*s on the New York stock market were up this morning, apparently as the result of tho reduction. Sc ret ary Mellon does not believe that the reduction will have much permanent effect on the money market or business generally. NEW YORK, May I.—Brooklyn Edison Company will offer $16,000,000 additional stock shortly to stockholders at par. The issue will be underwritten by a prominent banking house. In February, stockholders approved an increase of stock to $75,000,000 from $50,000,000, the amount outstanding is $43,704,300. NEW YORK—Duncan Fraser and Joseph B. Enos have been elected directors of the American Loco Company to fill vacancies. Mr. Fraser is vice president in charge of the manufacturing sales DETROlT—lndustrial employment here last week dealined 3,741 to 231,617 and compares with 227.344 for the same week a year ago. Despite the decreases of the last few weeks, employment is still 2.338 above the b‘vh mark of last year, but Is

THE INDIANAPOLIS TIMES

HOGS IN DEMAND AT 15 CTS. HIGHER • Market One-Priced Affair at $7,65: Hog Prices l>ay by bay Apr. 260-300 lbs. 290-275 lbs. 150-180 lbs. 25. 7.60 7.00 7.00 26. 7.00 7.00 ~.00 28. 7.00 7.60 60 29. 7.45 7.45 7.45 30. 7.50 7.50 75.0 May. X. 7.65 7.65 7.65 Under the influence of a strong demand and somewhat lighter receipts, hogs sold on the most active market of several days at a 16-oent price advance in trading' at the local livestock yards today. From the start to the j closing sales It was a one-priced affair at $7.65, as compared to Wednesday’s average price of $7.50 and $7.55 top. Demand from local packers was strong at $7.65 and want from all accounts quickly followed suit, effecting an early clearance of the yards at the same level. Demand held good to tlie finish and the market closed without any signs of weakness. Trade today was in Tine with the preceding days of the week, when, in spite of heavy receipts, demand seemed stro.ig enough to accomplish a satisfactoi > clearance of the pens. Sows reflected the general trend of the market and sold slightly higher, the smooth variety bringing $6.00 to $7, the bulk at $6.85 and roughs priced at $6 to $6.60. Demand for pigs was also somewhat improved and prices held firm at $7.25 top for the good heavy type and lighter classes quoted $4 to $7. Receipts, 7,000. Holdovers, 539. The general tone of the cattle mar ket was improved, with the result that ail prices hejd steady to stronger, with the possible exception In the heifer division, where quotations are still spotted, due to heavy receipts. One lot of prime steers brought the top figure at $10.65 Wednesday and traders were of the opinion that prices today would be firm with this sale. Good heifers were in ready demand down from $9. Receipts, 800. After a strong start, prices began to take an upward swing in the calf division and the average sales of the day were made on a 50-cent higher basis than Wednesday’s market. Trading was active and most offerings moved sold quickly on an early market. A few choice fancies brought a top of SI and ail good veals sold from $lO to $10.50. Nominal quotations for sheep and lambs remained steady with Wednesday. All told, probably fifty head were on sale, not enough to determine the market's course if given a test. —Hi.rs— Choi * lifdit* $ 705 Ltfht mix<"il 7 oft Medium mixed 7.05 Heavy weiirhts 7.0001 7.65 Bulk of sales 7.65 Top 7 65 Packing sow# 6 25ft 7,00 Piss 4.00® 7.25 | —Tattle— Prime -rvrr f rt d strrro. 1.000 to 1.800 lbs S 9.00 ft 11.00 Good to Loire steers. 1.000 to 1,100 Its, 8 50® 9 00 Good to choice steers 1 000 to 1,200 lbs 7 50 ft 9.00 Good to chop*' steers, 1,000 to 1,700 lbs 6.05 ft 7.50 Common to medium steers. 800 to 1.000 lbs 6.00® 7.00 —Cows uni] Heifer*— Good to light heifers $ 6.00® 9.00 Good heavyweight 7.00 ft 8.00 Medium heifers 6 00m 700 Common heifer* .9,00® 6.00 Fair cows HOOm 7.25 Cutter# 2.75 ft 3 35 Gunners 2.75 ft 3.75 —Bulls— Fancy but her bulls $ 5 00ft 6.00 Good to ehoiro butcher bulls. 5.00 ft 5.50 Bologna bull* 4.25 ft 4.75 Choice veals slo.ooft, 10.50 Good veal* . . 7 50ft 8.50 Lightweight vial# 6.00 ft 7.10 Common heavies 500 ft 700 Tcp 11.00 —Sheep and Lambs— Extra ohoii-n lambs sl-3.00ft 15.00 Heavy lambs 10 00ft 13.00 Cull lambs o.ooft 10.00 Good to choice ewes 5.00 ft 8.00 Cull* 3.00 ft 5 00 Spring lamb* 12.00fti.700

Other Livestock C riCk 40. May I.—Cattle Receipts. 8.000; i irket active; killing classes strong, 25c up: mostly 15 025 c up: top matured steer* 2; several loads. ¥1 I @ 11.75; hulk. SO 011; Kras* Texas. $7.2507.75: few fed steer* averaging 1.000 pound* or over, under $0 to killer*: lower grade fat she stock slow; bul's strong. 10c up: vaalers steady, 25c up. mostly $7.500 8.50. Sheep—Receipts, 12,000; market for fat lambs fairly active, steady to strong; sheep steady; few early sales fat wooled lambs. sl6 25010.65. some held higher; pood clipped Ihmb*. sl4 0 14 25: fat wooled ewe*. $8.50; choice clipped ewes, $7.50. Hogs—Receipts. 24.000: market mostly 10c up; lightweight* 10015 c up: top. $7.50; hulk. $7 1007.45; heavyweight. $7 2507.50; medtumweight, $7.20 <07.45; lightweights, $6.9007.40: light lights. $0 0 7.25; packing sows, smooth. $6 7000.85; packing sows, rough. $6.65® 0.70: slaughter pigs, $4.5000.50. TOLEDO, May I.—Hogs—Recetpt*. 600; market 10c higher; heavies. $7.0007.70; mediums, $7.7007.75; Yorkers. $7 65® 7.75; good pigs, $0 7507. Calves—Market slow. Sheep and lambs—Market steady. liutter—4oo4lc Eggs—2o @ 22c. Hay—s3o. CINCINNATI. May I.—Cattle—Receipts. 650; market, steady: steers, good to choice. sß@lo. Calves —Market steady; good to choice, $8 50 0 9.50. Hogs—Receipts, 5.000; market steady: good to chops- packers and butchers, 57.80. Sheep—Receipts, 125; market weak; good to choice. $7 @9; sheared, $7 0 7.50. Lambs—Market steady; good to choice, $15.50010.60; springers, sl2 @2O. PITTSBURGH, May I.—Cattle—Receipts light; market steady; choice. $10.50 011.50; good. $9.25@10,25: fair, [email protected]; veal calves, [email protected]. Sheep and lambs— Receipts light; market steady: prime wethers. $8,50 0:9; good, $7.25@8: fair mixed. [email protected]; lambs. $15@20. Hogs—Re>eeipts, 15 double decks; market steady; prime heavy, [email protected]: mediums, sß® 8.10; heavy yorkers. $8 @8.10; light yorkers. $7.5007.75; pigs. $707.36; roughs, $5.75®6.40; stags. $3.2563.76.

EAST ST. LOUIS. May I.—Cattle—Receipts. 1.000: cows. [email protected]; canners and cutters. [email protected]; calves, $8.75 @ 9.25; atockers and feeders,, $7.25. Hogs— Receipts, 10,000: market 10@15e higher: heavies. $7.30 @7.60; mediums, $7.45® 7.65: light. [email protected]; light lights. $6.25 @7.55: packing sows, $6.25 @6.50; pigs, [email protected]: bulk. [email protected]. Sheep— Receipts. 500: market strong: ewes. ss® H. 25: canners and cutters, $2 <8 5; wool lambs, sl4® 1650. EAST BUFFALO. May I.—Cattle—Receipts 2.175: market, slow, steady: shipping steers. $9 @10.50: butcher grades, $8 @9: cows, $2 @7. Calves—Receipts, 400; market, active, steady; cull to choice, s3® 11. Sheep and lambs—Receipts, 1,200: market active, lambs 25c higher, sheep steady: choice lambs. sls® 15.50: cull to fair. s9® 14.50: yearlings. $9.50® 12; sheep, $3.5009.25. Hogs—Receipts, 5,600: market. slow'to 15® 20c higher: Yorkers. $7.25 Hi 8: pigs. $7.25: mixed. $7.90® 8: heavy, $7.90: roughs. [email protected]: stags. [email protected]. London Metal Market By United Financial LONDON, May I.—Metals close: Coppers—Spot, £63 2s 6d. off 2s 6d; futures, £64, off 2s 6d: elec., spot, £6B 15s: futures, £69 ss. Sales spot copper, 100 tons; futures. 1.100. Tin—Spot, £237, up 10s; futures, £237, up 10s: Straits, £238 10s, up 10s. Sales spot, 50-tons; futures, 660 tons. Legd—-Spot £Bl. off 18s: futures, *29 17s 6d, oft 2s 6d. Zinc—gpotj £BO 10s, oft 6s;

Where Ten Year Sentence Will Be Served * '... :: 1—...I —... . THIS IS THE FEDERAL PRISON AT ATLANTA, GA., WHERE WARREN T. M’CRAY IS TO SERVE A SENTENCE OF TEN YEARS.

Afraid of Self By Vnlted Presx OMAHA, Neb., May I.—William A. Wurster, 33, Crest on, lowa, asked authorities to lock him up because he was afraid he would kill his father and mother if they didn't. “I read the Bible through from cover to cover a dozen times and tried to drive the feeling away,” Wurster said.

BUS FRANCHISE FURTHER DELAYED BY CITY BOARD Action Is Withheld Pending Outcome of Car Rerouting Conference, A petition for establishment of additional bus lines in the city by granting of a franchise has been further delayed by the board of works. Smith Bowman, president of the Peoples’ Motor Coach Company, seeking the franchise, was told by board membe.rs Wednesday action would be delayed until problems of street car re-routing and extension of service had been studied. Bowman now operates blisses to Riverside Park and FiftySecond St. and Central Ave. Three Franchises Yfiked A franchise is being asked to operate busses on the east side down New York St., another on Massachusetts Ave. and another to the south side by Madison Ave. and Shelby St. Bowman pointed out today the franchise was needed to insure investors who will take stock i:i the company. The franchise must be approved by the board of works and the city council. Twenty five-year franchise was asked, but Bowman said tip- company might accept a shorter period of time. Will Form $250,000 Company "If we can get a franchise approved, a company with a capital stock of probably s2so,(Hid will be organized to give the city transportation service where street cars fail to reach," said Bowman. "We have been giving that service to the north side and stand ready to give the other parts of the city equal service if the administration will support it."

Produce Markets INDIANAPOLIS. May I—Fresh1 —Fresh eggs. loms off. 20c: packing stock butter, 2,>c; springs, over 2 lbs.. 23c; fowls. 6Vi lbs. up, 23c fowls, under 4Va lbs . lHr: Leghorn poultry. 2.> per cent discount; cock*. 13c; ! *tag. 18c; young tom turkeys. 12 lbs. up. ! 24c; young hen turkeys, 8 tb*. up. 24c; geese, 10 lbs. up. 12c; squabs. 11 lbs. to the do*.. $5.50: old guineas, dor... $1 Ml Indianapolis < reameries are paying 52c per pound for butter fat CHICAGO. May I. Rutter—Receipts. 7,400; creamery extra, 35 ’sc: standard*. 35Hc: first*, 33 hi a ; seconds, 3". So F :s —Receipts, 21,258; ordinary firsts. Stt’-ic; firsts, 21 % @214*0. Cheese—Twins, ld'ac; young Americans. 17 44c. Poultry—Receipt.*, 2 cars: fowls, 25027 c: dicks 28c. geese, 16c; turkeys, 22c; roosters. 16c; broilers, 45 0152 c. Potatoes— Receipts. 265 ears. Quotations: Wisconsin round whites. $1.05 @1.36; Minnesota and North Dakota Red River Olilos, $1.1561.40. CLEVELAND. May I.—Butter—Extra, in tubs. 30 0 41c: extra firsts, 38@40c; firsts, 36 @ 38c; packing stock. 26® 31c; standard*. 38640 c; prints 1c extra Eggs— Fresh gathered northern extras. 26c: extra first*, 25c; Ohio firsts, 2214 c: western first*. 22 Lo. Poultry—Live fat fowls, 27@ 28c; springer*. 28 0 30c: Leghorn fowl*. 25c: loosters, 18@19q; heavy white ducks. 38 @4oc; medium fowls. 27 628 c. Potatoes— Michigan round whites, S2O 2 25; Minnesota white, [email protected]; New York, $2.25 02.35; all in 150-pound bags; Chios, slOl.lO bushel; California, new. [email protected] box; Bermudas, sl6® 16 barrel. NEW YORK. May I.—Flour—Quiet, unchanged. Pork—Dull; mess, $24.75025.25. Lard—Eaaier; mid-west, spot, sll @ll.lO. Sugar—Raw quiet.: centrifugal. 0.28 c; relined dull; granulated. [email protected]. Coffee —Rio spot, 15@15tio; Santos o. 4, 18*i @lo4o. Tallow—Steady; special to extra, 7Vi @7l4a- Hay—Firm: No. 1, $1.00; No. 3. $1 .3061.40. Dressed poultry—lrregular; turkeys, 2<)@80o; chickens. 31648 c; capons. 33®51c; ducks, 20@27c; fowls. 20 @34c; rucks. Long Island, 20@25c. Live poultry—Shiady: geese. 12@loc; ducks. 13 628 c; fowls. 300 32c; turkeys. 20 6 30c; capons, ss® 50c: broilers, 35 o'ssc. Cheese j —Quiet: State whole milk, common to spe- | dal, 15Vj ®26c; State skims, choice to spe- j cials. ll@l7c. Butter—Steady: receipts.' 0,312: creamery extras, 37c; special market. 37 U 0 38c: State dairy, 32@36%c; Danish. 38 @4O Vic; Argentine. 330 35c. Eggs—Steady; receipts. 54,921; nearby white, fancy. 31®33c; nearby State whites, 26 630 c; western whites. 26 030 c: fresh firsts, 23V4@28Hc: Padflc coast, 26 @ 34c: nearby browns, 29®310.

Driver Is Fined $25 Monroe Smith, 121 % N .Alabama, was flneil $26 and costs on charge of operating a nauto while Intoxicated in city court today. Smith was arrested following a collision at Tine and Washington Sts. Charge of intoxication against Thomas Nichols, same address, arrested at the same time, was dismissed Retail Grocers Sponsor Dance The Indianapolis Retail Grocers Association sponsored a dance at the Athenaeum Wednesday night. Prizes were given to holders of lucky numbers. J. -'3? McCaaflln was chairman

JOHN D. WILLIAMS, HIGHWAY CHIEF, IS CLEAN-UP TARGET Branch Has Conference With Leaders at Severin Over ’Political Move.' A movement to “clean up” the Statehouse, following conviction and | resignation of ex-Govfrnor McCray, was under way .today. Centered in the spotlight was John D. Williams, director Stale highway department, target for a silent political move of certain party leaders, launched Wednesday night at the Severin. Leaders who attended the conference were: Governor Branch, Clyde i A. YValb, Republican State chairman; | Frederick Sehortemeier. secretary ; State committee; Frank G. Singleton, I secretary to the Governor; District j Chairman Lawrence Cartwright, Ewing Emison and Daily McCoy. Is “McCray Appointee” Williams, according to word given out following the hotel session, is termed a “McCray appointee." The movement to oust Williams, who was actually appointed over protest of McCray is a political attempt, it is said, to make him the target of an investigation which has lien conducted silently. bv the State board of accounts Into operations of the highway department. Four members of the commission, Charles W. Ziegler and Alvin V. Burch. Republicans, and Earl Craw ford and Walter O. Zarrt, Democrats, threatened to resign if Williams was not appointed. McCray openly stated he favored Matt Brown. Lake County politician, for the place. The investigation of the State board of accounts, it is also understood, involvcs George N. Bartley, appointed by Lawrence Lyons, former director of tie* highway department. Lyons appointed Bartley at the request of McCray. Bartley is in charge of the State garage of the highway department. Field examiners of the board of accounts are known to have been auditing books of Bartley for the past two months.

Named in 1921 St.-it(‘house officials recalled today Williams was appointed by the highway commission in 1921. to succeed Lyons who became State Republican chairman. Williams was formerly chief clerk and auditor of the department. Previous to that he served in the office of former State Auditor Otto L. Klauss. Williams declined to make any comment or statement. The scope of the Governor's investigation may include the Indiana Board of Agriculture, which it is alien and. made a $155,000 loan secretly to ex Governor McCray, and the public service commission, which has been criticized by both Republican and Democratic leaders for utility rate increases granted during the past year. Called Disgraceful In calling for the resignation of McCray Dec. S, Walb said: "Tlie only hope I can see for speedy termination of the present disgraceful situation is for Governor McCray to resign and take with him every one whose conduct and mode of thought agrees with his. "Asa matter of loyalty to their chief, undoubtedly their resignations would follow his.” Recall of Walb’s attitude, coupled with his present activity, caused development of rumors at the Statehouse today that several leading McCray appointees would soon relinquish their offices.

CIVIC LEAGUE ACTIVE i Thirteenth Ward Club Takes Steps to Beautify S. Meridian St. Steps to clean up S. Meridian St., from McCarty St. to Wilkins St., by eliminating unsanitary and unsightly features were taken Wednesday night at a meeting of the Thirteenth Ward Civic League at the South Side State Bank. 1125 S. Meridian St. A committee will be appointed to appear before the park board Saturday to ask for adequate lighting and beautification of a playground at Meridian and Kansas Sts. Farmer Dies of Cancer By Times Special GREENCASTLE, Ind., May I. George B. Ruark, 50, is dead of cancer of the stomach, at his farm home east of here. He was one of the largest land owners In his community. A sister, Mrs. Della Clidewell of Indian apolis feurvives. Putnam Bankers Meet By Times Special GREENCASTLE, Ind., May I.—The Putnam County Bankers’ Association held their annual meeting Wednesday night. Addresses were given by Elmer W. Stout, president of the. Fletcher American National Batik, Indianapolis,

One ‘t ’ Only Governor Branch spells his first name "Emmet” with one “t.” It is so written in the old family Bible, an heirloom in the family at Martinsville for generations.

MAY DAY FLOWERS BRING ‘HAPPIEST’ DAY TO CHILDREN Posies Are Distributed to Invalids as Child Health Week Feature. This was the happiest May day in all the almost thirteen years of Gladys’ life. When Mrs. Otto Keller, 1924 Talbott St., left her a couple of pink rosebuds and a potted pansy, Gladys, in almost the same breath as her "thank you” told excitedly how she had just come from the hospital and how her legs were going to be straight now. Soon she will walk, for the first time in her life, she said. She was just one of the sixty children whose May day was brightened ny floyers. Forty-two women of the Red JCross motor corps distributed the flowers, under the direction of Mrs. Hugh McGibeny and Mrs. Wilbur Johnson. Orphans Rememliered The posies went to 100 invalid children in homes and to hospitals, orphanages and day nurseries in observance of the first National Child Health day. With the pansies and roses, each child received a card bearing this inscription; "May day greetings from your friends, the health agencies and flower growers of Indianapolis, who want all children to be well and happy. This is Child Health week." The flowers were the gifts of wholesale and retail florists and the Indianapolis Garden Club. After Mrs. Keller, accompanied by a Times reporter, left Gladys talking of the things she would do when her legs were straight, she went to cheer a bright-eyed 5-year old boy. His name is Harold. For five weeks, he has had lobar pneumonia, and now is fighting against tuberculosis.

Easter Runny Too He was almost as proud of the flowers as he was of a toy his grandmother gave him and a basket the Easter bunny left. In another home, where the family was preparing to move, Airs. Keller found little Dorothy, hugging close her two-weeks-old sister. Dorothy, who is 12 years old and the eldest of thirteen children, has been out of school since Feb. 1 with an abscessed gland. She took her flowers eagerly, gave the baby sister a whiff of the roses' fragrance, and then plunged into a story about the garden that she used to have, with “four o'clocks and nasturtiums, and. oh, lots of things.” It was a happy May day for the “shut-ins.” Approximately 85,000 health booklets were distributed early today by milkmen. Open house was to be observed from 2 to 4 p. m. at the Robert Long Hospital. A demonstration of methods of teaching handcraft to sick children was to be given by members* of the Junior league. Hostesses were; Miss Natalie Brush, Miss Dorothy Harmon, Mrs. Charles Latham and Mrs. W. B. Gates. Hostesses at the city hospital were: Mrs. Theodore Weiss, Mrs. Bruce Wylie and Mrs. Hazel Hassler of the St. Margaret Guild. Open house was to be held by the Family Welfare Society at 4 p. m. today. Hostesses were: Mrs. Joseph B. Kealing, Mrs. Richard Lleber, Mrs. Homer W. Borst. Mrs. V. H. Greene and Miss Rose Portei.

STILL ARTFUL DODGER Officers Search Liner in Vain for Grover Itergdoll. By United Press NEW YORK, May I.—Despite rumors and official notifications from the War Department, Groves Cleveland Berg-doll was not aboard the Columbus, North Germ an-Lloyd liner, which arrived from Germany, the ship was met by officers upon arrival In quarantine. Every passenger was presented. Postal Clerks* Examination Annual examination of 300 applicants for railroad postal clerks will be held Saturday and Monday In examination rooms of the civil service department at the. Federal Bldg., H. M. Trimpe announced today. According to Trimpe’s schedule, 120 jwvlll take the test Saturday morning, 120 in the afternoon and sixty Monday morning*. Abrade of TO must be

MORE MONEY FOR PDOR FARM TO BE ASKED OfCOUNTY Commissioners Say They Will Correct Defects in New Men’s Building. Steps wail be taken at once to bring the new men’s building at the Marion County poor farm up to specifications, it was announced today by John Kitley, president of the county board of commissioners. Further, the county council will be asked for additional appropriation to provide features, such as window screens, not originally planned. * The announcement followed a conference with Architects E. E. Dunlap and Sylvester A. Morgan, County Attorney Russell J. Ryan. TV. H. Albertsmeyer, architect hired by the commissioners to point out faults and the contractor, George A. Weaver. Action Follows Criticism Activity of the board resulted from a report of the Marion County Board of Charities and Correction, April i5, which severely criticised the board and expressed “disappointment and dissatisfaction" with the new building. Tlie report complained of the fact that no screens had been provided for the protection of aged and sick inmates from flies and mosquitos, that no roof gutters Were contemplated, that floors were of cold, hard cement, and that the walls were rough, unplastered brick. "For one thing, we only had $130.000 to spend in building that big building, and couldn’t throw in much luxury." the commissioners explained today. "Now we are going to ask additional funds, there seems to be so much fuss about it.” Trusted Architects "We thought the architects were working for us, and sort of trusted them to see things were right," said Albert Hoffman, Republican commissioner. "We are just farmers and it would take a Philadelphia lawyer to go through the blue prints, specifications and contracts and see what is right. But it won’t happen that way again.” The contract was let last July. An extra appropriation of $3,527 had to be made to correct a mistake in plans which would have left one end of the building six inches in the air. Kitley sai l Weaver and the arch itects ha-e agreed to go over the building ami make any changes as pointed out by All>-rtsmoyej" that will bring it up to specifications.

Insurance Statements Statement of Condition OF THE Mutual Life Insurance Cos. of Baltimore Baltimore. ML. 15 South St. ON THE 31st Day of December, 1923 PAUL M. BURNETT. President. HENRY ROTH. Seer .ary. Amount of capital paid up ’Mutual NET ASSETS OK COMPANY. Cash in office banks aud trust company $ 323,363.36 R< al estate unincumbered.... 411.120.10 Bonds and stock* owned (market value! 1,408.935.00 Mortgage loans on real estate (free from any prior incumbrance) 2,151,274.88 Accrued securities (interest anl rent*, etc. > 60,332.32 T.oan on policies 2.409.33 Ground rents 112.773.04 V. 8. certificate of indebtedness 20.000.00 Premiums and accounts due and in process of collection. 11.824.43 Total net assets $4,502,032.46 LIABILITIES. Reserve or amount necessary to reinsure outstanding risks. . $4,009,874.95 Bills and accounts unpaid. . . . 4.823.77 Other liabilities of the company 29.938.87 Total liabilities $4,044,037.30 Surplus 457,305.08 Total $4,502,032.45 Life companies: Maximum risk written $ 5,000.00 Amount retained by company. . 5.000.00 State of Indiana. Office of Commissioner of Insurance. I. the undersigned. Commissioner of Insurance of Indiana, hereby certify that the above is a correct copy of the Statement of the Condition of the above mentioned Company on the 31st day of December, 1923. as shown by the original statement, and that the said original statemant is now on file in this office. In testimony whereof, I hereunto subscribe my name and affix my official seal, this 23rd day of April, 1924. (SEAL) T. S. McMURRAY JR.. Commissioner. •If Mutual Company so state.

Statement of Condition OF THE American Union Ins. Cos. of New York New York. N. Y. Administrative Offices, 75 Elm St., Hartfogi. Conn. ON THE 31st Day of December, 1923 J. H. VREELAND. President. A. CARt'TH. Secretal*. Amount of capital paid up. . .♦$ 500.000.W8 NET ASSETS OF COMPANY. Cash in brinks (on interest and not on interest) $ 25.827.69* Bonds and stocks owned (market value) 1,213,770.00 Ac,rued securities (interest and rents, etc.) 17,274.07 Premiums and accounts due and in process of collection 32,854.22 Deposits with Underwriters’ Association 180.00 Total net assets $1,289,876.49 LIABILITIES Reserve or amount necessary to reinsure outstanding risks. . $ 72.523.92 Lessee unadjusted and in suspense 6 637.00 Bills and aoi-o ints unpaid .... 25 00 Other liabilities of the company 2,865.00 Total liabilities $ 80.950.92 Capital $ 500,000.00 Surplus 708.925.57 Total $1,289,876.49 Greatest amount in any one risk . $200,000.00 Greatest amount allowed to be insured in any one block. ... $200,000.00 State of Indiana. Office of Commissioner of Insurance. •I. the undersigned. Commissioner of Insurance of Indiana, hereby certify that the above is a correct copy of the Statement of tho Condition of the above mentioned Company on the 31st day of December, 1923. as shown by the original statement, end that the said original statement is Sow on file In this office. In testimony whereof. I hereunto subscribe my name and affix my official seal, this 23rd day of April. 1924. - (SEAL) ,H 1,-8. McMUBRAY. JE..,

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