Indianapolis Times, Volume 37, Number 44, Indianapolis, Marion County, 2 July 1925 — Page 19
THURSDAY, JULY 2,1925
LIGHT PORKERS LEAD LIST AT $14.75
RAIL SHARES DEVELOP RISE WITH CLOSING Heavy Buying of Wabash Point to Further Consolidation Programs.
Average Stock Prices
Average price of twenty industrial Btecks for Thursday, July <i. was 131.76, ur> .75. Rverage price of twe •*- . ils for Thursday, July 2. was 98.85, up .44. By United Press NEW YORK, July 2. —Railroad shares developed sharp activity at rising prices today, tending to confirm the promise of a genei'al forward movement given by the climb of the industrial stocks this week to the highest levels on record. Urgent deman dfor the Wabash issues, which was believed to represent buying for control on the part of the Delaware & Hudson demonstrated that interests with consolidation projects in mind were not allowing the grass to grow under iheir feet while they awaited the interstate commerce commission’s approval pi the Nickel Plate program.' Indications that the general list was entering anothre aggressive phase of the bull swing was strengthened by the fact that the industrial section was not without its ravi of buying enthusiasm. Locai Bn;k Clearings Indianapolis ba.iit clearings for Thursday. Jul’- 2. amounted to 84,006,000. Bank debits ‘otaled $10,470.000. ERRATIC GRAINS FEATURE MART Prices Slide to New Low on Move. By United Press CHICAGO, July 2. Mixed sentiment caused erratic changes in grain futures on the Board or Trade today. Wheat finished lower. Coarse grains made moderate advances. Characteristic of the unsettled condition, wheat advanced sharply on the uncertainty of the spring crop and disappointing export sales. Prices slipped off to new lows on the present movement. At this point -iVhen grain was wanted it was not available and prices rallied above the previous close. Higher prices, however, failed to hold when selling by shorts appeared later. Fears of damage to growing crops in the southwest from prevailing hot temperatures brought short covering into the com pit. Oats held firmly to tne day’s gains reflecting strength in corn. Provisions steadied after an early slump with small grains. Chicago Grain Table —July 2 Prev. Open. High. Low. Close, close. WHEAT— July 143% 1.45% 1.42% 1.43% 1.43% Sept 1.40% 1.41% 1.38 1.40 1.40 Dec 1.41% 1.43% 1.31% 1,41% 1.41% CORN— July .97% .99% .96 .98% .97% Sept 1.01% 1.03% .99% 1.02% 1.01% Dec .80 .88% .85% .88% .86% OATS— July .42% .4.3% .42% .43% .42% Sept .44% .45% .43% .45% .44% Deo .47 .47% .46% .47% .46% LARD — July 17.07 17.15 17.02 17.05 17.02 RIBS— July Nominal • 18.50 18.37 RYE— July .94% .94% .91% .9.3 .94% Sept -.96% .97 .94% .95% .90% CHICAGO, July 2.—Carlot receipts were: Wheat, 26: corn. 50; oats. 31. CHICAGO. July 2.-—Com —No. 2 mixed. $1411.02% : No. 3. 99c@$1: No. 4. 93% 099%e: No. 2 yellow sl.Ol %4} 1.04: No. 3. sl.ol® 1.02; No. 4. 09e@$l: No. 5. sl. No. 2 white, sl.Ol % 4? 1.0,3; No. 3, *101.02: No. 4 98%c®81.01: No. 5. P9o. Oats—No. .3 white. 43@45r; No. 4, 43 @43 %c. Barley—-83@87e. Timothy—s6.Bs @B. Clover—s2o @27.75. BUMPER CROP EXPECTED Moisture Conditions Seem Generally Good. By United Press TOPEKA, Kans., July 1. —Bumper cotton and com crops in the southwest —giving promise of the largest on record —were forecast today by 1 J, F. Jarrell, manager of the agricultural development department of the Santa Fe railway in his monthly report. Corn in Oklahoma, Kansas, Nebraska, Missouri, lowa and Illinois, is in excellent shape and moisture conditions are generally good, Jarrel’s report stated. Jarrell estimated the wheat crop in the various states as follows: Kansas, 90,000,000 bushels. Missouri, 28,500,000 bushels. Nebraska, 35,5000,000 b”shels. Oklahoma, 26,000,000 busnels. Colorado, 14.000,000 bushels. Texas, 11,000,000. California, 10,500,000 bushels. lowa, 8,000,000 bushels. Wheat prices at the present time range from 20 to 50 cents higher per bushel over last year’s price, Jarrell said. Wheat harvest is reported as just starting in Nebraska and nearing completion in Kansas. THISTLES MENACE FARM Elkhart and Kosciusko Counties Threatened With Overgrowth. By United Press GOSHEN, Ind., Jin 1 3. —Elkhart and Kosciusko coumh are threatened with overgrowth by Canada thistles unless measures are taken to stop spread of the noxious weed, according to Albert A. Hansen, Purdue University extension staff. Hansen estimated there were now “at least a few million” Canada thistles in the two counties. “One reason why the dreaded thistle has been allowed to scatter is the common but incorrect belief of many, farmers .that the plant does rot form live seeds in Indiana,” said Hansen. “They not only form live ” > eeds, but scatter and spread rapid- ...
New York Stocks ißi Thomson a* Mcirinnoo>~
—July 2—• Prey. High. Low. 11:45 close. Railroads— ~ „ Atchison ..118% 118% 118% 118% Atl Cst L. 161 % 160 101% 160 B & O ... 77% 70% 77% 77 Gan Pac .143% ... 142% 144% C & O 94(i ... 94% 9o C& N W . 06% ... 04 % 6o CRI &P. 45% 44% 45% 44% Del & Hud 147 ... 146 140 Del & Leek 143 % 143% 143% 144 Erie 29% 2 3 29% 27% Erie Ist pf 38% 35% 38% 35% Gt Nor pfd 69% 0!’ 09% 69 Lehi Vaf. . 81% 8l . 81% 81 L&N 111% Mo Pac pfd 77% . . 77% 77% NYC.. 115% .. . 115 115 NY NH & H 32% 32% 32% 32% Nor Pac .. 07% ... 67 67% Nv & Wst. 128% 128 128% 127% Hero Marq. 62% ... 02 % 62 % Pennsyl .. 46% 46% 46 % 46% .Reading ..86% ... 80 §2*, Sou Rwy . 98 % 97 % 98 97 % Sou Pan . .98% 98% 98% 98% St Paul . . 9% .. . 8% 8% St Paul pfd 10% ... 16% lgH St L & S W 47 % 46% 47 46 St L& S F 8.3% 82% 83% 81% TTn Pac ..139% 139 139% 139 Wabash .. 32% 31% 32% 32 % Wabash pfd 68 % 61 % 0' % 68 % Rubbers— Fisk Rub . 21% .. • 21% 21% Goodr Rub 55 % 54 % 54 % 56 Goody pfd. 104% ... 104 % 105 % Kelly-Spgf. 19% 18% A U S Rub. . 57 % 06 % 06 % 56 Equipments— Am C & F.101% 101 101% 101% Am St Fly 38% 38 38% 37% Am Loco .118 HI 1 * l}2,i Bald Loco 117% 110% 116% 117% Gen Elec . 287 % ... 287 % 287 % Lima Loco .. ... • , 61 Pr St Car. . 53% ... 3% Pullman .141% 140 141 139 Ry St, Spg 127 125 126% 124 tWst Airb.lol 101 101 100% West Elec. 71 ... .0% ,1 Steels— Bethlehem. 39% 39% 39 % 30 % Colo Fuel. 41% ... 40% 41 Crucible ... 68% 68% §§ % 3?,, Gulf States 84 83% 83% 84% PRC & I 38% 38(5 88% 38% Rep I & S 46 4040 43 Sloss-Sheff. 88 87 88 80% U S Steel .115% 115% 115J4 Vanadium .28% ... 28% ~8 % Motors— Am Bosch. . . ... ■ §5 Cband Mot 36% 35% J 6% 35% Gen Motors 8o 84% §4% 84% Mack Mot 180% ... 379% 180 Mq\’ Mo A ... • • 117% Max m 2 B 110% 116% 116% IBB? Moon Mot. 33% 33 % 33 s * * Studebaker. 49 47% 49 48 Hudson .. 63% 63% 68% 53 J? Stew-Warn. 67% ... 66% 67% Timken . . 41 ... 41 5 41 j WiTlys-Over 20% 20% 20 j] 20$ Dodge ... 81 % ... 81 % 81 % Minings— ' Dome Mines .. ... . .., Gt Nor Ore 27 % ... 2, % 28 Int Nickel . 30 % 30 30 % 30 % Tex G& S 112% 111% 112% 111 ■ Coppers— Am Smelt .103% ... 103% 163 % Anaconda . 39% ... 39 30 $4 Inspiration. 25% . ... 25% 20% Kennecott. . 51% 50% 51% 50% Utah Coppr . ... ... 88 % U S Smelt 37% 37 37% 37 Oils— Cal Petrol. 28% 28% 28% 28% Cosden ... 33 ... 32% 33% Houston Oil 75 ... 74% 74 Marl and Oil 44% 44 44% 43% Pan-A Pete 77% 75% 7% 78 P-A Pete B 77 % 75% 76% < % Pacific Oil 57 % ... 57 57 % Phillips Pet 45 % 44 % 44 % 44 % Pure 0i1... 29% ... 29% 29% Rov Dutch 51% ... 61% 52 S Oil of Cal 58 % ... 58 % 68 % S on of* N J 44% 44% 44% 44 J* Sinclair ... 23 ... ”2% 22% Texas Cos.. 52 51% 51 % 51 % Tr Cont Oil.. 4% ' .. . 4% 4% Industrials— Allied Client 9C% 90 90% 90% Allis-Clial.. BS% 32 83 82 Amer Can 197% 195% 190 % 197 A HAL pd 71 Amer Ice ..114 111 113 100% Am Wool.. 38% 37% 37% 37% Cen Leath 18% ... 18% 18% Coca Cola .118% 118% 18% 119 Congoleum. 26% ... 26% 26 Oont Can .. 68% ... 08% 66% Dav Chem. 35 % ... 35 % 34 % Kant Play 107% 106% 107% 106% G Asphalt. 52% ... 52% 62% Inter Paper 67% 67 67 % 67 Int Harv.. 107% ... 107% 107% May Stor... 117 116 110% 115% Mont & W. 58 66% 67 % 66% Nat Enamel 31% 31 31% ... Owen Bot.. 62% 61% 52% 62 Radio .... 58 % 57 57 % 59 Sears-Roe. 172% 171% 172% 171% U S C I P.. 162% ... 162 161 U S In A1 . . 88
Produce Markets
Eggs—Strictly iresh delivered at IncUanapolis 27e; joss off. Poultry—Hens, 22c; Leghorn hens. ’ >c; springrers. 30c; Leghorn spring. 23c: young turkeys, 25c; old turkeys. 20c; cocks and stags. 10c. Butter—Jobbers’ selling prices lor creamery butter; fresh prints, 45% @ 40 %c. , , Cream —43c a pound for butter fat. felivered at Indianapolis. Cheese—Selling prices: Domestic Swiss. 30 0 44c: imported, 53@69c; New York brick. 26%c: Wisconsin limburger, 27% @2B%c: Wisconsin Daisies. 25%c; Long Horns. 26® 27c; American loaf. 32c; pimento loaf. 34c: Swiss loaf. 39c. CHICAGO. July £.—Butter—Receipts. 11,117; creamery, 41e; standards, 41c; firsts, 37% @3Be; seconds. 34® 37c. Eggs —Receipts. 13.415: ordinaries. 29 %c; firsts, 30% @3l %c. Cheese —Twins, 22% ® 23c; Americas. 23 %o. Poultry— Receipts. 7 cars; fowls. 20®23c; ducks. 18c, spring, 22c; geeae, 13c; spring, 20c; turkeys. 20c; roosters, 14c; broilers, 2bti: Potatoes- —Receipts. 147 cars; quotations: Oklahoma and Arkansas triumphs, $2.05 @2.75; Oklahoma cobblers. [email protected]; Virginia cobblers. $5.4005.60. NEW YORK. July 2.—Flour—Dull and easy. Pork —Steady; mess. s4l. Lard— Easier; midwest spot. $i7.50 @ 17.80. Sugar—Centrifugal 90 test. 4.27 c; refined, firm; granulated, 5.500 5.00 c. Coffee— Rio 7 spot, 21c: Santos No. 4. 24@24%e. Tallow —Firm: special to extra. 9@9%c. Hay—Quiet: No. 1, [email protected]; No. 3. ;)sc@ $1.05 ; clover, 90c® $1.25. Dressed poultry—Steady: turkeys, 22@40c; chickens. 25®46c: capons. 35@52c; fowls, 14 ®3sc; ducks. 10024 c; Long Island. 23c. Live poultry—Weak: geese, 10@loc: ducks. 14® 24c; fowls. 26® 30c: turkeys, 20@30c; roosters. 15c; chickens. 2o@ 39c. Cheese—Dull: state whole. 19® 27 %c; milk, common to specials, 23 %@ 26 %c. Butter—Weak; receipts, 20,92.); creamery extras, 40 %c: special market. 41 %c. Eggs—Dull; receipts. 11.386; white fancy. 46® 48c; nearby state whites, 38 0 48c; fresh firsts, 33040 c; Pacific coasts. 39 046 c: western whites, 3o@ 48c; nearby browns. 41® 45c. CLEVELAND. July 2.—Potatoes North Carolina cobblers. $5 per barrel: North Carolina. 52.40: Virginia cobblers, $605.15 per barrel; New York. $1.15 per l-'O-pouncl sacks. Poultry—Express fowls. 26 0 28c: Leghorns and light stock, 18® 20c; roosters. 15010 c; ducks, 23®20c; young ducks. 28@30e: broilers. 37@41c. Butter —Extra in tubs, 44@45c: extra firsts. 42043 c; firsts. 40®41c. packing stock 20c. Eggs—Northern Ohio extras. 38c. extra firsts. 36c: Ohio firsts, 33® 33%c: western firsts. 33c. Births Boys Lawrence and Fred Young. 1221 E 3,l’k Gt • Walter and Floy Bottin. 60 E. Minnesota. Robert and Bethel Taylor, 2900 Brouse. Thomas and Lillie Goodlow, 1932 HighKoss and Nellie Biggs. 825 Belle Vieu Pi. George anil Esther Hosse, 1119- Shelby. Raleigh and Georgia Boyd, 1704 Mor- = l William and Alice Edwards, city hospi tal Roy and Ruth Lonberger, 3120 Indianapolis. _ Ernest and Minnie Evans, 3032 Massachusetts. , , . .. Hampton and Mamie Anderson, 1050 N. Pershing. _ _ Vincent ami Hester Lacy. 2731 Denny. Amber and Cordie Chappell. 1734 Goodlet’ Girls George and Beulah Cornelius, Clark Blakeslee Hospital. _ , Clyde and Dora Belcher, Long Hospital. Charles and Minnie Wilson, 2335 RalSt °Alexander and Eva Hutchinson, 1812 Northwestern. Henry and Mipme Nance. 14.)4 Hia-t. Warren and Mary Rabourn, 445 Agnes. Charles and Mary Bauer, Methodist HosJohn and Margaret McKee, 318 N. Bradley. Fred and Minnie Baryl. 1103 Kappcs. Thomau and Alberta Harding, city hospital. Laney and Minnie Cork, city hospital. John and Wills Prince, 1330 S. Bradbury. Dewey and Lena Walls, 937 Buchanan. \ Deaths Coler an J. Ridge. 11 months, city hospital. bUpcho pneumonia. ■ HowarcV V. Barrett, 7. 234 Lincoln, broncho m euraonia. Gladys 1 nrley, 28, Methodist Hospital, toxic goitei . William V. Hoppe, 43. hospital ambulance. fractured skull, accidenta.l. Frank Hiesert, 00. llOu N. Kcaling. acute myocarditis.
Woolworth 161% 4.53% 158% 154 Utilities— Am TA T 140% .. . 140% H.40% Con Gas... 87% 87% 87% 87% Columbia G 65 63 % 05 04 Wes Union 134 .. 133% 134 Shipping— Am Int Cor 36% 36% 36% 30% Am S & C 8 % ... 8 % 8 Atlantic G.. 53% 53% 53% 63 In MM pfd 31% ... 31% 31% Foods— Am Sugar. 00 05% 65% 60% Austin N ... 23% 24% Corn Prod. 37% 30% 30% 30% C C Sg pfd ... ... ... 53 C-A Sugar ... ... 29 20 Punta Ale 40% 39% 39% 39% Ward Bak.. 68% 06% 07 67% Tobaccos— Am, Suma ... 8% ... Am Tob ... 90 Con Cigars ... ~ . . ... 38% Tob P (B) 84% 82% 82% 83% U Clg Stor 95% 92% 93% 94% MORALS TOPIC OFEDUCATORS (Continued From Page 1) rural district bonded for school to limit of law. Can you help?” President Jesse H. Newlon said the appeal will he laid before the officers. Voting for the two rival candidates for president. Miss Mary MeSkimmon, principal of Pierce School, Brookline, Mass., and Miss Cornelia Adair, English teaheer, Richmond, Va., began at 10 a. m. by secret ballot. Only the 1,000 or so official delegates can vote. The election is to last all day. Smith Elected Dean H. Lester Smith, Indiana University, is the only nominee for treasurer, and will be declared unanimously elected. Lawlessness in the younger generation and lack of morals were a matten of serious concern to speakers at the larger meeting in Cadle Tabernacle. Many guesses as to the cause and many remedies were suggested. Henry N. Sherwood, Indiana State superintendent of public instruction, had three explanations for the fact the younger people are “running wild,” in his speech on “Morals of Modern Youth.” Chief among these was the fact that, in Indiana at least, “62 per cent of the people are not connected with any church, and Protestants give their children only twelve hours religious instruction a year. “So long as this condition exists, our youth will not he saturated with that moral and religious teaching which sends men and women out to do their part as law abiding citizens,” he said. Parents to Blame Lack of interest of parents and parental control and business capitalization of youth’s desire to play through sex movies and public dance hails were also blamed by Sherwood. "Parents have too long looked upon the raising of a family as a biological process rather than a moral responsibility,” said Mrs. A. H. Reeves, Philadelphia, another speaker at the tabernacle. “A child learns to be good by being good and seeing it in others, not by being told about goodness.” Miss Jessie M. Gray, president of the Pennsylvania State Education Association, said the remedy lies in personal example of teachers and in stressing the spiritual side of education, as well as the material. “Strong character breeds strong character,” she said. “The influence of a noble, great-hearted teacher is second only to that of a noble mother. (Challenge to Teachers “Don’t he negative. Don’t say ‘don’t’ to the children. You must teach by saying do, and the method should be not so much by precept as by example. “Whether you are teacher in a schoolroom or teacher as a mother, this great country of ours challenges you to right citizenship.” W. O. Saunders spoke on “A Moral Code for Children.” He is associate editor of Collier’s Weekly. “The favorite in-door sport of the adult American is making laws and rules for other people,” he said. “Everybody knows exactly what’s wrong with the other fellow and is ever ready and eager to set a code of morals for him. “We can try anything on the kids because they can't talk back. Some of us grown-ups shudder to think how bad we might have been if we had the incentives and invitations to immorality that afflict the youth of this generation. Evolution Out Evolution and week-day religious instruction were two subjects voted out of the wind-up discussion Friday morning when the resolutions committee refifsed to consider resolutions of the subjects. Thej ra?v be brought up from the floor, however. At the official delegates' meeting committee reports were heard. Among these was one of the legislative commission proposing a bill to be introduced in Congress to establish a cabinet post of Secretary of Education. It is the same old bill the N. E. A. has passed for six years, only this time it is minus the part authorizing the Federal Government to give financial aid for schools to poorer States. Los Angeles, Philadelphia a:-e contending for the 1926 convent'on.
In the Sugar Market
(By Thomson & McKinnon) Refiners arc gradually absorbing the distressed holdings of full duty sugars at slight concessions, while Cubans continue to hold for a basis of 2% cents. Despite unfavorable consuming weather at home a ellght increase in demand for granulated is noticeable. Retail Fish Prices Whiteflsh, 36c: Mackir.aw trout, 36c: yellow pike. 36c: No. 1 salmon. 35c: blue pike. 25c: perch, 30e: Columbia River salmon steaks 36c: halibut steaks. 40c; baby whiteflsh. 30c: boneless herring. 30c; boneless baby whiteflsh. 35c: red snappers. 40c: snapper throats. 40c: roeshad. 50c: white bass. 30c: black bass. 40c: Spanish mackerel, 40c: Boston mackerel. 40c: white perch. 15c: river carp. 15c: lake mullets. 15c: dressed catfish 35c: smoked whitefish, 35c: imoM lunch herring, 40e: smoked kippered salmon. 50c: smoked chinook salmon. 60c: bone out cod&sh. 40c.
THE INDIANAPOLIS TIMES
Other Grades Follow Jump With Rise of 10@ 50 Cents. Hoe Pries* Day by Day June Bulk Top Receipts 26. 14.00 14.10 6.500 27. ’ 14.35 14 35 4.000 29. 14.35 14.50 6.000 30. 14.15 14.25 8,000 July 1. 14.25 14.35 7.000 2. 14.50 @14.05 14.75 6,000 light hogs took the lead in the trading today at Indianapolis Livestock Exchange and commanded a top price of [email protected] cwt. with ready takers at teh opening. With receipts estimated at 5,000 and holdovers numbering 681 the market assumed a higher tone on all grades of material. Heavy hogs were quoted at $14.35 ®14.50; mediums sold at $14.50(g'14.65 cwt.; light lights averaged [email protected] cwt.; pigs moved at [email protected] cwt.; smooth sows were $12.25#12.76 cwt.; roughs sold at $11.50@1? cwt.; and stags were still $10.12 cwt. Outside buyers were in step with the price boost hut the local packers refused to follow the lead at the opening. Most of the market was absorbed at a price level of [email protected] cwt. with a top price quoted at $14.75 cwt. Cattle ruled slightly nigher at a level of $12.75 cwt. down for the best grades of prime fat steers. Heifers in the prime fat class sold at sll generally. Cows were steady at $4.50@8 cwt. with the demand constant. Canneis and cutters sold from [email protected] cwt. Receipts were estimated at 1,000. A rise in price of 50c cwt. was recorded in the calf market today with the top price on best veals of $11.50 cwt. The bulk of the sales moved off the market at sll @11.50 cwt. Receipts were estimated at 900. The sheep and lamb division experienced a steady market with offerings of fair quality. The run of about 50 Osheep and lambs cleared at [email protected] cwt. with a top price on best lambs of sls cwt. Not much of the material cleared at the top figure, however. Sheep were steady at a price of $3.50@6 cwt. and culls and commons sold from [email protected] cwt. —Hogs— Heavies $14.35 @l4 50 Mediums 14.50® 14.85 Light hogs 14.05® 14.75 Light lights 14.25 @14.73 Pigs 12.50 @14.25 Smooth sows 12.25® 12.75 Rough sows 11.60 @12.01 Stags 10.50® 17.00 —Cattle— Good to rhoire fat steers. . sl2 75 Medium steers 8 OO® 11.00 Good heifers 11.00 Common to fair heifers .. . 0.06® 7.50 Prime fat rows 5.00® 600 Medium cows 3.50® 4.00 Canners and cutter cows . . I.oo® 3.50 —Calves— Fancy veals $11.50 Good veals 1 6.500 11-00 Medium calves 7.00 Common veals 3.00 —Sheep and Lambs — Spring lambs, choice $15.00 Mediums [email protected] Good to choice sheep 5.00® 6.00 Fair to medium 3.50® 4.00 Culls to common I.oo® 3.50 Other Live Stock CHICAGO. July 2. —Cattle —Receipts, 8.000; market, better grade fed steers active. unevenly and sharply higher on runaway market; $13.85 paid lor medium and weigthy bullocks; sixty head South Dakota irst 1 ,433-pound averages at that price; several made. sl3 50® 13.65; mired yearlings. sl3. better grade she-stock strong. 25c up: others steady, slow; little change on bulls at recent decline; vealers firm at $10.50 @ 11.25. Bneep—Receipts. 4.000; mark -t. iat iambs very slow packers bidding as much as 50c lower: no early sales; few lots fat native ewes, steady at $0.50®7.50. Hogs (soft or oil hogs and roasting pigs exluded) —Receipts. 19,000: market, best kinds 2.>e higher, others slow, steady: top. $14.1o: bulk, $12.40014.10: heavyweight, 250360 lb., medium choice. $17.85@ 14.1n: medium weight, 200-250 lb.. medium choice. $13.25® 14.15; lightweight. 100200 lb., common choice. $13014.15; light lights. J3O-100 lb., common choice. $12.7.) fill 14. packing sows, smooth and rough. $11.25® 12.25; slaughter pigs. 90-130 ID., medium cho.ce, $12.50® 1J.30. EAST ST. LOUIS. July 2.—Cattle —Receipts. 2.500: market, lower: yearling heifers. $6 0 8.50; cows. [email protected]; fanners and cutters, $2.5003.76; calves, $lO @10.35: stockers and feeders, 50.500 0.25. Hogs—Receipts. 7.500; market, 10 @lse higher; heavies. $ 14.0.>@ 14.25. me diums, $14014.35; light .sl3 <s® 14.20: light lights, $13.25 ft 14: packing sows. $1.5 ft 12; pigs. $12.00® 13.8 o; bulk. $14.10® 14.20. Sheep—Receipts, 3,000; market, lambs 50c lower; ewes. s4® 0: canners and cutters, $lO 3; wooled lambs. $12.75® 15. EAST BUFFALO. July 2.—Cattle—Receipts 225; market, active, steady; stopping steers. $9012.75; butcher grades. $8.7509.50: cows. [email protected]. Caves— Receipts, 850: market, active, 26e lower; cull to choice $3.60® 12.20. Sheep and lambs—Rc.-eipts, 000; market slow. 60c @sl lower; choice lambs, $lO ft 15. o 0; cull to fair. s9® 14; yearlings. fß®l3: sheep $3.50@9. Hogs—Receipts. 2.40 b; market, slow: yorkers, $J4..)® 14 8o pigs. sl4 0 14.25; mixed, $14.70® 14.86; heavies. $14.75® 14.85; roughs. sl2® 12.75; stags. $7 @TO. CLEVELAND. July 2.— Hogs Receipts. 2.500; market 10®25c higher; Yorkers sl-4.7<>. mixed. $14.70; mediums. $14.70- pigs. sl4: roughs. sll.oO. stags. $7. Cattle —Receipts. 500: market steady, unchanged. Sheep and lambs—Receipts. 1.000: market slow: top. $10.50. Calves —Receipts 500; market $1 lower; top, sl2. PITTSBURGH. July 2.—Cattle—Receipts, light: market, steady; choice. sll 011.50; good, $10.25 lit 10.75: fair. $8 @9; veal calves, $12012.50. Sheep and lambs—Receipts. 4 double deckers: market. Bteady; prime wethers. $808.2o; good. $0.500 7: fair mived. Sn.oO®o.sO_; lamb*. slo® 15.50. Hogs—Receipts. In double deckers; market, slow-: prime heavy. $14.00® 14.70: mediums. $14.80® 14.90; heavy Yorkers. $14.80014.90; light Yorkers. $14014.26:_ pigs, sl3® 13.50; roughs. $11.35® 12.50; stags, $6 @7. CINCINNATI. July 2.—Cattle—Reoepits. 600; market. steadyj shipping steers good to choice, $5.50® 10. Calves -—Market, 500 higher; good to choice $9.50® 11. Hogs—Receipts. 3.500; market steady to 150 higher; good to choice packet* and butchers. $14.75. Sheep—Receipts. 7.000: market,, steady; jrood to choice. s4@7. Lambs—Market, 50c lower; good to choice. $14.60@15.
Trade Reviews Say
By B. G. Dun & Cos. With the exception of a few sections where demand during the last sixty days has been sufficiently strong to counter-balance the decline during the early months of the year, sales of dry goods have not been so large in volume as they were for the first six months of 19L’4. June sales, however, are ahead of those of last June in nearly all parts of the country, with spot business in s'jasonal items quite active. Latterly, the movement of English prints, printed broadcloths, printed voiies, silk and cottons and rayon mixtures has been very full in secondary channels, and silks are having an unprecedented sale in consuming circles. Most retailers are moving out cotton and silk dresses, special makes of fine lingerie and underwear an dhosiery lines as freely as the yare offered. A good demand also is noted for fine printed lines in wash goods departments, but ginghams, percales, bleached cottons and other staples are moving in light volume.
HAWKINS TELLS STORY TO JURY (Continued From Page 1) and $3,000 for attorney fees from Indiana Rural Credit Association. These were never paid, however.” Hawkins said he was born at Portland, Ind., and lived there all his life except ten years spent at the practice of law in Indianapolis. He told of the organization of the company, its operations and ramifications. Previous Employment “Prior to the organization of the Hawkins Mortgage Company, I was employed by N. D. Hawkins & Cos. of Portland, which carried on the sale of Indiana and Illinois farm lands,” Hawkins said. “I had charge of the organization and operation of banks in various towns in Indiana and Ohio. The first two or three Welfare Loan societies were formed in 1918 by the N. D. Hawkins Company, which was headed by Hawkins’ father, who is deceased, he said. They were organized, Hawkins said, under his own suprevislon of the defendant. In 1919 business of N. D. Hawkins Company was taken over by the mortgage company. Object Is Asked Jacob C. Denny, counsel for the defendant, said: "In your own language tell the object in organizing the Welfare Loan societies and Hawkins Mortgage Company.” ”In 1918, when organizing the Farmers Trust Company at Ft. Wayne, I become acquainted with Anthony Schieb, who suggested profits could be made in such a business. He showed me his own brOKn. "He suggested the N. D. Hawkins Company could do profitable business by putting in chattel mortgage loan societies simiiiar to the banks which we had organized. Hires Him “We had several talks and discussed the project thoroughly. Schieb was hired as secretary of our company. He was well recommended to us and had been successful as his own office manager. “We decided to organize 300 Welfare Loans in cities over 20,000. Capital was to be varied. We decided the parent company should own 51 per cent of the stock and preferrred stock should sell for cash, and the cash used for loans. We figured the system, taking a large sum, could be financed by the 49 per cent. < Vmsultrd Many "Preceding our organization we. consulted many persons. Schieb believed we could make money at 2% per cent a month, which would be a cut rate of 1 cent. After time and study we decided we could make money and earn the Hawkins Mortgage Company a fair return. All money from sale of preferred stock was to he used on loan accounts.” Denny asked the witness to describe the method pursued in organizing and selling stock. “The Hawkins Mortgage Company incorporated for $4,000,090 After consultation with experts we decided we wanted no par value stock. Later stock was made nominal to save income tax stamps. “Hawkit. Mortgage Company then purchased ail property of the N. D. Hawkins company and wo started the large comprehensive system. “At the start we employed salesmen to go to cities and organize welfare loan societies with local advisory hoards. Local directors were to advise the manager regarding loans and credits. Studied Morris Plan “Schieb devised a comprehensive system of plans and also procured copies of various operative contracts. We studied the Morris plan. “Each welfare society kept its own books with duplicates In the home office at Portland. Each week we checked up, verified items, and made reports. “A uniform system of accounts was used. Many of the forms were copyrighted and trademarked. Salesmen of welfare stock received from 10 to 15 per cent commission. “Preferred stock of Hawkins Mortgage Company was sold at par, but little for cash. Stock totaling $270,000 had been sold when the Indiana Rural Credits Association was taken over. Financial Slump “In the summer of 1921 financial conditions became had and several chattel mortgage loan companies were taken over. Stock was converted for Welfare Loan Stock. “Notes were received in payment for a great amount of stock. Only about 25 per cent of the stock for which notes were given was paid for.” “Notes were taken for about 30 per cent of the stock. Hard times of 1921 affected person who had given notes and very few were paid. Hawkins said oftentimes stock in loan societies was i-old before the organization was perfected. Hawkins gave in detail the transactions for purchasing of the various subsidiaries. $3,000,000 Taken In Approximately $3,000,0' , 0 was received for the sale of stock in the Hawkins Mortgage Company or Welfare societies, he testified. About $1,250,000 of this sum was loaned at 2Vi par cent; $1,000,000 in organization and promotion and acquiring other co - ipanie®; $250,000 was invested in real estate and the balance in litigation and salaries, Hawkins testified. Examination of Hawking would be completed later this afternoon, Denny Indicated when court adjourned at noon. Hawkins f vced a rigid crossexamination by Elliott shortly before the non recess. When Elliott read a list of names of men said to have been affiliated with Hawkins in the mortgage company, Hawkins’ answers as to whether or not they were employes were evasive. Hawkins denied hiring Mord S. Carter, yet admitted Carter had been sent as a salesman to lowa. Payment to Jones Denied “And did you not pay William M. Jones, former secretary-treasurer of the State board of agriculture, S6O a week for watching the Legislature, and charge it to advertising?” Hawkins was asked. He denied this. When Elliott asked Hawkins
Today’s Program of N. E. A. • Afternoon 2 p. m.—Department of Business Education. Cleypool. 2 p. m —Department of Classroom Teachers. Statehouse. 2 p. m.—Department of Elementary School Principals. Assembly Room. Olayrool. 2 p. m.—Department of Secondary School Principals, Spink-Arms. 2 p. m.—American Home Economics Association, Cropsey Auditorium, Public Library. 2 p. m. —National Council for the Social Studies, Hollenbeck Hall. Y. W. C. A. 2 p. m. —National Geographic Society, Short ridge High School. 2 p m. —School Garden Association of America, Study Hall, Shortrldge High School 2:45 p. m.—French Section National Federation of Modern Language Teachers, Manual Training High School. 2:45 p. m.—German Section, National Federation of Modern Language Teachers, classroom, Manual 'Training High School. 2:45 p. m.—Spanish Section. National Federation of Modem Language Teachers, classroom. Manual Training High School. Dinner 6:30 p. m.—Dinner, Department of Classroom Teachers, Travertine Room, Lincoln. Night 7:30 p. m.—General program, Cadle Tabernacle.
whether he was always in touch with management of the company, Hawkins said he was out of touch with his office in summers of 1921 and 1922. Hawkins said in the summer of 1922 he stayed on his farm, eight blocks away from his office at Portland. Ind. However, Hawkins said when he was at his office he was executive head, hut usually was aay three or four day* a eek, when one of the vice presidents would take charge. Hawkins said ne was out of touch with the company in 1922 when he took a trip abroad for his health. I/etters From France He admited writing a letter fron x Paris, France, to one of his officer*, asking that the officials give weekly reports on the business and arrange to sell securities in Illinois. “So that’s the way you were in touch with your business when you weer clear out of the United States?” asked Elliott. “I wasn’t in touch with it,” replied Hawkins. Elliott brought out through examination that Hawkins would endeavor to huy off officials of smallerv companies before they tried to trade in Hawkins securities. Referring to the United Home Builders, for which it was charged Hawkins traded stock with contract holders, Elliott asked why Hawkins tried to first control the officers. Many Suits in 1923 “Because they would not let us trade with them.” Hawkins replied. Hawkins admitted his company paid $300,000 for stock in the Home Builders which he said was represented to him as worth $444,000. “I felt that it would help simplify matters if they could get officers to endorse the move,” Hawkins said. Hawkins admitted in direct examination that from thirty to forty suits were pending against his company in various states in 1923. He claimed amount of attorney fees totaled about SIOO,OOO. Government Rests The Government rested at 9:50 a. m. Four character witnesses, all from Portland, first were put on the stand by the defense. They were; E. K. McGrlff, former circuit judge, John M. Smith, attorney; Rufus Garter, farmer, and Charles E. Stewart. Three other witnesses were dismissed. Thomas P. Merilees. expert, ac-
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countant for the United States Department of Justice, star Government witness, was the last Government witness. He was called back to the stand for a short time this morning. Merilles testified Wednesday that common stock In the Hawkins company was valueless. It sold as high at $65 a share. Accumulated losses of the company from 1919, to May, 1923, amounted to more than $2,000,000, he said. Discrepancies in accounting methods were testified to. Deficits Shown If the books of the Hawkins Mortgage Company had been “honestly kept,” huge deficits would have been shown and the company would have been unable to show any value to its common stock, Merilees declared, TRAFFIC SHIFT ELUSIVE, SAYS SAFETY BOARD Check of Vehicles Started at Important Street Corners. “As shifting as the winds: as restless as the sea.” No sooner does the board of safety establish regulations for traffic, thnn that elusive element changes its aspect, Ernest 1,. Kingston, president of the board, says. Popularity of certain streets rises and falls, most times for definite reasons, but at other periods through the vagaries of chance. Erection of anew industry or an establishment that ras captured the public's fancy for a moment may niter the traffic map of that locality, according to Kingston. Preference Shifts In the days of the slow-moving horse and buggy, lines of vehicles were fairly well established, hut with the development of the motrn car, U required a high-geared mind U> adjust Itself to the shifting of tfio drivers’ preference. The most recent growth In favor of a city thoroughfare is East St., as a north and south route, accord ing to Kingston. With the comple tion of elevation of railroad tracks, a broad avenue, almost as capacious as Washington St., is afforded to connect the north and south parts of the city. A considerable share of this traffic has been diverted from Alabama St., which formerly bore the burden. Vehicles Checked The hoard of safety is tackling the traffic problem in a scientific mtsn ner, having started (he check of vehicles when stop and go signals artrequested at important street corners. A test lasting one week was recently conducted at the intersections of Vireinift Ave., South andsS. East Sts., between 5 and 5:30 p. in. 'The total number of cars that passed varied, as follows: Monday, 868; Tuesday, 835; Wednesday, 710; Thursoday, 862: Friday, 735, and Sunday, 1150. Saturday was omitted purposely because the afternoon is a half holiday for many business establishments in tho neighlKirhood. GOLD PLATE TO U. S. Americans Huy Articles From Impoverished Owners. By Titnts Special liONDON, July 2. —Many of England’s famous mansions are being depleted of gold plate, because of the impoverished condition of the owners. Most of it is sold to Americans.
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HEAVILY ARMED POLICE PURSUE CONVICT SQUAD Wide Search Is Made for Quartette of Escaped Killers. Bn United Press ISHPMING, Mich., July 2.—Armd deputy sheriffs and State police today barricaded every road and highway as far as 200 miies west of Ishpming in a final drive to capture Vance Hardy, Eddie Wiseman,' Isadore Londe and Tony De Flora. escaped convicts from the branch prison at Marquette. The convicts late yesterday Jjmfce from their hiding place in a deep woods near the prison, held up an automobile of E, G. Sterling, mining engineer and ordered him to drive “at top speed” toward Negaunee, Angered because Sterling failed to drive more than fifty miles an hour, Londe took the wheel and steered the at- through the business district of Ishpeniing nt its fastest clip. Near Clarksburg the machine crashed Into a concrete bridge and was wrecked. The convicts then seized another automobile and drove west toward Nestoria. Tho State police were notified and started pursuit. After a futile chase last night, the State officers, aided by deputy Sheriffs, resumed the drive today, expecting a gun battle when they over-take t’he convicts, all of whom have reputations as killers. Board Hearing July 13Tublic service commission July Ift will hear petition of Lake County commissioners to extend the Fulton road over the right-of-way of th* Chicago, South Shore & South Bend Railway Company, It was announoed today.
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