Indianapolis Times, Volume 37, Number 142, Indianapolis, Marion County, 14 October 1925 — Page 13

Wednesday, oct. 14,1925

HOG PRICES SLUMP SLIGHTL

TRADE ACTIVE AND GENERAL LIST GOES UP Marland Oil Is Feature in Point of Strength and Activity.

Average Stock Prices

Average price of twenty industrial stocks for Wednesday, was 14-7.40, off .OH. Average price of twenty rails for Wednesday .was 101.73. up .07. Bu United Press NEW YORK. Oct. 14.—Trading was decidedly active with the general list higher. Marland Oil was a feature in point of activity and strength and on large transactions sold up a point shortly after the opening to anew record high price of 50 X A- Pacific Ojl was another feature selling up to 55. U. S. Steel common was fractionally higher at 12314 as were General Motors at 120 and U. S. Rubber at American Can was a point higher at 23614 while International Nickel opened with a 9,200 share transaction at 34, up %. The close of the second hour witnessed a stronger tone and a broadening of the activity. C. &O. gained a point to 107%, reflecting the court decision denying an injunction to the minority holders seeking to restrain the merger into the new Nickel Plate system, New York Central, B. & 0., Rock Island and Southern Railway all improved in price. Some motors gave ground from their early, prices, General Motors getting under 119 and Studebaker under 62. The first sale occurred shortly after noon in Kresge at 770, the opening price being off five points. Local Bank Clearings Indianapolis bank clearing's for Wednesday amounted to $3,544,000. Bank debits for Wednesday totaled $5,483,000.

Foreign Exchange

(By Thomson & McKinnon) Sterling. $4.8314. Francs, 4.5014 c. Lire 3.92%e. Belgium, 4.55%e. Guilders, 40.17 c.

Trade Reviews Say

NEW YORK, Oct. 14.—Continnued activity in the electrical industry is evident in the business transacted throughout the country, station companies have "Vl the market for additional and industrial firms are b Ijyj n er, ai. lily, Electrical World repurn,? control apparatus and general supplies are moving in good volume, and there is more of a tendency for buyers to anticipate requirements. Manufacturers, report that if the present rate of buying continues total sales for the remainder of the year will be high. Interconnection work among utility companies is creating a demand for switching equipment of higher capacity, which is replacing apparatus that is in satisfactory working order but inadequate to meet the new conditions. New applications of electric furnaces, welders, etc., are creating wider markets, and manufactlurers of such equipment report a steady increase iv sales. Increased activity in maintenance purchases is a factor in the Middle West.

Commission Row

Prices to Retailers Fruits Apples—Maiden Blush. 40-pound basket. $1.50; Jonathan. 40-pound basket. $1.751512.25: Grimes Golden, 40-nouml basket $1.7502.25: Pearl., 40-pound basket. $1.2501.50; Northern Spyß. 40pound basket. $1.75 {£2; R 1. Greeings, SI .50® 1.76: Delicious. 40-pound basket. 3.75 04. Bananas —8c lb Cantaloupes Colorado pink meats, $1.35. fancy Honey Dew. $2. Cocoanuts —Jama‘ca SO.oO for 100 Cranberries —Early Blacks, box. $5.25. Grapefruit—lsle of Pine. $5.25 Cl 0.25 a crate. Grape*—Malagas. $1.50: Tokays. $1.8o: Michigan Concord, 5-pound basket. 45c. Lemons—California 300s. $7.5008. Limes—s3.oo a hundred. s Orangese—California Valencias. $5.50® 10.00. Peaches—sl.soo2.7s bu. Pears —Bx. Icy. Bartlett box. $2 03.25. Plums —Blue Damson. $2.25®2.00; Oregon. $1.25, Prunes —Fey. Italian. $1.25. Vegetables Beans—Green stringless. $3.50; limas, 60c. Cabbage—Fey H. G.. 3c a lb. Carrots —Southern, doz.. 45c. Cauliflower —Colorado. $3.25 cwt. Celery—Michigan, crt.. 80c. Corn—H. G.. doz.. 10®20c. Cucumbers —H. G.. $1.75. Eggplant—H. G.. $1.25 bu. Lettuce —Western Iceberg, crate. $2.50 @5; H. G. leaf. 15-Ib. basket. sl. Mangoes—H. G. bu.. $1®1.25. Onions—Yellows. $2.50® 3: H. G. white 1.86: H. G.. pick lings. sl. Okra—Basket. sl. Parsley—Dozen bunches. 50c. Peas—Colo., crt.. $2®5.50. Potatoes —Michigan white. 150-pound sack. $3.90: Idaho Rurals. per cwt.. s3® 3.50: Eastern Sweets. $5.50. Spinach—H. G.. bu.. $101.50. Squash—Fey. H. G., sl. Tomatoes—Basket. 50 0 85c. Turnips—New H. G.. $1.25 cwt. vitamTnes win out College-Bred Rats From Purdue Used in Experiment. Bu Times Special CHICAGO, Oct. 14.—A bout between calories knd vitamines was held here Tuesday at the convention of tho American Dietetic Association. The Vitamines won by a shade. Two college-bred white rats from Purdue University furnished the bout. One was raised on potatoes alone, and the other grew up on a balanced diet of potatoes and tomato juice. The tomato juice—or vitamin —rat was far the sturdier and more athletic. American Telephone and Telegraph Company BEL SYSTEM 144th Dividend The regular quarterly dividend of Two Dollars and Twenty-Five Cents ($2.25) per share will be paid on October 15, 1^525, to stockholders of record at the close of business oW September 19, 1925. ! 11. BLAIR-SMITH, Treasurer.'

New York Stocks • ’horriM*i * M*Kirif,u

All quotations New York time. —Oct. 14— _ Railroads— Frev. High. Low. 1:00. close. Atchison ..123 Vs 121 Vi 122% 12144 Ati Cst L.19'7 ... 105 194 Vi B & O ... 82% $0 44 81% .80% Can Pac ... ... 149 C & O ...107% 106% 107 100% C&NWRy 67 % ... 67 % 67 % C R I & P. 45 s * 45% 45% 4.>% Det & Hud. 143% ... 143 Erie 32 31 % 32 31 % Erie Ist nfd 4040 . 40 39% Gt North pf 72% 72 >4 72% 72% Lehigh Val .78 ... 78 77 % MK& T. . 40% ... 40% 41 % Mo Pac pfd 82 % ... 82 % 83 NY Cent.. 122 121 122 120% NY NH ft H 30% 35% 36% 3o % North Pac.. 69V* 60 69% 69 Nor & Wn 138 137% 138 137% Pennsy ... 48 % ... 48 % 48 % Reading ... 85 84 % 85 84 % So Railway 10 7% 106% 107% 100% Sou Pacific 90% 00% 90% 00% St Paul of 14% ... 14% 14% St L & SW 62% 52 % 52% 52% St L & S F 97 96% 97 96% Un Pacific 140% 130% 140% 139% Wabash . . . 39 38 % 38 % 38 7* Wabash pf 70% 09% _ 70 <0 Rubbers— Fisk Rubbr 20 % 25 % 25 % 26 % Goodrich R 68% 67% 68 68% Goodyr ofd 111.. Kelly-Spgfid 17% ... 17% 1< % U S Rubber 75% 73% 74% 74% Equipments— A C and F 109% 107% 109% 107% Am Stl Fdy 40 % ... 40 % 40 % Am Loco . .110% 114 116% 114% Bald Loco 120% 118% 120% 118% Gen EJee . . 302 296 302 299 NYAbk.,.33% 33% 33% 34 Pullman ..163% 161 163% lbl % R.v Stl Sps 174 172% 174 ... West Abk 129 126% 129. 12.) % Westh Elec 73% ... 73% 74% Steels— Bethlehem . 41% 41% 41% 41% Colorado F 39 .. . 39 38 Crucible 74% ... 74% 7o Gulf States 83 % ... 83 % 83 % P R C & I 40 ... 39 % 39 % R I & Stl olVs Sloss-Sheff. 111% 109% 109% 109% U S Steel 124% 122% 124% 122% Vanadium.. 29% ... 29% 30% Motors— Am Bosch. 37 % ... 37 37 % Chand M. . . ... ... 38% Gen Mot.. 120 118% 119% 119% Mack Mot 211 206% 211 209 Chrysler ..193 % 191 193 19-. Hudson .. 93% 92 Vi 93% 9J% Moon Mot.. 39 ... 38% 38'/ Studebaker. 02% 61% 62 63 % Dodge .... 44% 42% 43 43% Stewart-W.. 83% 82% 83 83 Timken ... 55% 50% 54% 50% Willys-Over. 29% 2£% 28% 29% Pierce-Arr.. 42% 4i % 42% 41% Minings— Dome Min ... ... ... 14% Gt No Ore. 31% 31 31% 31% Int Nickel 30% 33% 36% ,33 % Tex G& S 114% ... 114% U 4% Coppers— Am Smelt. 113 ... 112% 112% Anaconda .. 44% ... 44% 44% iipiration 27% ... 27% 27% Kennecott. . 56% ... 56 56 Ray Copper 14% 14 14 % 13 % U S Smelt.. 45% ... 45% 40% Oils—. Cal Petrol.. 29% 28% 29 28% Cosden ... 32% 31 31 Vi 31 Houston Oil 71 ... 7U % \ O % Mariand Oil 50% ... 49% 49% P-Am Pete 64 % ... 64 % 64 P-A P (B) 65% 04% 00% 64 Pacific Oil. 55 54% 64% 40% Gen Pete.. 48Vi 48 48% 47% Phillips P.. 41 40% 40% 40% Pure Oil.. 27 ... 26% 26% Royal Dut. 51 Vi 50% 61% 50% S Oil of Cal 64 ... 53 % t>3 % S Oil of NJ4O % 40 % 40 % \4O % Sinclair ... 19% ... 19 19% Texas C 0... 50% 49% 49% 49% Tr Con Oil. 3% .... 3% 3% Industrials— Allied Oh. 108 106 %t 107 107 % Ad Rumely ... ... ... 16 % Martin-Pa. ... ... ... 21 % Allls-Chalm 87% ... 87 87% Amer Can 243 236 242% 230% A H&L pfd 67% ... 67 % 67% Amer loe. 110 ... 115% If?,. Am Woolen 43% 41% 42% 41% Cen Leather 23 % 22 % 22 % „23 Coca Cola. 153% ... 152% 15?., Congoleum. 20% 26 26% 26 V* Com, Can.. 78 Vi 77% 77'% 77

Indianapolis Stocks

—Stocks — Bid. Ask. American Central Life 200 Am Creoaotingr Cos pfd ....100 ... Advance-Rumely Cos com .. 15 15% Advance-Rumely Cos pfd ... 54 56 % doit R. R com 08 73 Belt R R pfd 54 ... Cent Ind Power Cos pfd ... 89 92 Century Bldg pfu 99 ... Citizens Gas Cos com 39 Vi 40 Citizens Gas Cos pfd 105% ... Equitable Securities com... 51 ... Indiana Hoteil com 100 . . . Indiana Hotel pfd 100 Indianapolis Gas 65 00 Indpls & Northw pfd .... 22 ... Didpls & Southeast ofd 20 Indpls Street Railway 30 36 Commonwealth Loan 97 ... Interstate Cub S prior lien 98 102 Merchants P Util Cos pfd. .96 ... Public Service Ins Cos 12 ... Rauli Fertilizer pid 48 ... Standard Oil ol Ind 62 64 Sterlinl Fire Ins 11 Vi 12% T H 1 ft E com 3 T H 1 & E Did 14 21 T H T and Light 04 96 Union Trac of Ind com .... 1 Union Trac ol Ind Ist pfd. ... 10 Union Trac ol Ind 2d pfd.. .. 2 ati Camp Pkg Cos pid .... 18 25 Van Camp Prod Ist pid.. 91 Vi 99 Van Camp 2d pfd 90 97 Wabash Ry Cos com 38 4l Wabash Ry Cos pfd 09 72 —Ronds— Belt R R and Stk Yds 4s. . 87 Broad Ripple 6s 72 ... Citizens Gas 5s 96 97 Citizens St Ry 5s 77 82 , Indiana Coke and Gas 65.. 04% 96% Indiana Hotel Os . . . 95% ... Indiana Northern 5s 3 ... Ind Ry and Light 5s 92 ... Ind Union 6s 3 ... Ind Col & So Os 96 100 Indpls Gas os 96 97 % Indpls Lt and lit 5s .... 98% ... Indpls & Martinsville 5s . . 31 ... Indpls Northern 5s 25 28 Indpls & Northwestern 5s . . 49 ... Indpls & S E 5s 25 Indpls Shelby ft 9 E 5s ... . 26 Indpls St Ry 4s 55 58 Indpls Trac and Term ss. . . 90 95 Indpls Union Ry 5s 98 ... Indpls Union Ry 4%5. ... 98 ... Indpls Water Wks Sec 95 ... Inslpls Water 5%s 102 103% Indpls Water 4Vis 92Vi 90% Interstate Pul) Serv 0s .... 98 101 Interstate Pub Serv B 6Vis. 101 T H I & E 70% 73 % T II T and Light . . 89 Un Trac of Ind 6s 22 28 —Bunk Stocks— Aetna Trust and Sav C 0... 110 ... Bankers Trust Cos 125 ... Bity Trust Company 117 ... ontincutal Trust Cos 106 ... Furmers Trust Cos 210 ... Fidelity Trust Cos 154 Fletcher Amer 152 ... Fletcher Sav and Trust Cos. 225 Indiana Nat Bank 255 267 Indiana Trust Cos 220 ... Live Stock Ex Bank 160 ... Marion County State Bank. .100 . . . Merchants Natl Bank .... 305 People State Bank 102 ... Security Trust 206 State Sav and Trust 75 Union Trust Company .... 340 400 Un Lab Bk and Tr Cos ... Wash Bank and Tr C 0.... 150 ... —Liberty Bonds— Liberty Loan Ist 3%s ... 99.80 100.00 Liberty Loan Ist 4Vt s ...101.70 101.90 Liberty Loan 2d 4%s ...100.72 100.78 Liberty Loan 3d 4%s ...101.00 101.20 Liberty Loan 4th 4% p ...102.10 102.20 TT 9 Treasury 4% s .... 106.30 U S Treasury 4s 103.00 103.10 —-Sales SI.OOO Indpils Northern 5s at ... . 25 $2,000 Indpls Northern os at 25 SI.OOO Liberty Loan 2d 4%. at . .5100.78 1 Wholesale Meat Prices Beef—Native steers, 500 to 800 lbs.. 22(3124c: fores under carcas. 3c: binds over carcass, sc: native heifers. 300 to 450 lbs., 17%ft22c: fores under carcass 3c: hinds over carcass. sc; native cows. 400 to 700 lbs.. 12%ft14%c: fores under carcass, lc: hinds over carcass. 2c: tongue 23c. swietbreads. 45c. Pork—Dressed hogs—l4o to 200 lbs.. 20%ft21c: regular picnic hams. 4 to 14 lbs.. 17% ft 19 %c: fresh tenderloins. 54c: fresh ham hocks. 14 %c: pigsleet fores. 9%0. Veal —Carcasses 70 to 200 lbs.. 20022%e: hinds and saddles over carcass. 8c: fores under carcass. 6c; brains. Isc: sweetbreads. 55c: tongues. 22c. Muttons Spring lambs. 25 to 40 lbs.. 28c: mutton saddles. 25c: legs. 26c: fores. 10c: sheep brains. 13c: tongues. 15c. QUIGG DELAYS VISIT New Legfon Commander to Come Here Saturday. John R. MQuigg, Cleveland, recently elected national commander of the American Legioij, has postponed his visit to Indianapolis until Saturday. He was to have arrived here to inspect the national headquarters Thursday. McQuigg will not live in Indianapolis, but will be here ft greater part of the time, it was said.

Dupont .. . 196 Vi ... 196 196 % Fam Play 110 % 109% 110 109 G Asphalt.. 59% 68 % 58% 59 int Paper.. 72 73 70% 71% IntUarv.. 129% 128% 129 May Stor. 127*{ 126% 127% 1.8% Mont A VV.. 09% 68 % 68 Vi 68% Nat Lead.. 162% 160 161% 160 Owen Bot. . Ol % ... 01 Vs Radio .... 50% ... 06% 56% Seal s-Roe. 210% . 210% 211 United Drg 132 130 132 130 U S In Al.. 92 Vi 92% 92% 02 Vi Woolworth 193 191 193 191% Utilities'— Am Tft T 141 % ... 141% 141 Vi Con Gas... 93% ... 92% 92 % Columbia G 77 % ... 77 % 77 % Peoples G 118% ... 118% 118% Wes Union 139% 139% 139% 139 Shipping— Am Int Gor 40 ... 39Vi 37% Am S & C. 6 ... 5% 6 Atla it'c G. 09% 69 69% 68% In M M pfd 32% .. . 32% 33% United F.. 245 243 240 241 Foods— Am Sugar. 64 Vi 63 Vi 64 V* 63% Am Bt Sug 352 . . . 352 . . . Austin Nieh 30 ... 30 29% Corn Prod. 36 .. . 'M r 36 V* Fleischman 140% ... 140% 141 Cuban-A Sg 22 V'* ••• 22 Vi 23 Punta Ale ... ... ... 34 % Ward Bak. 84% 83 Vi 83% 83 Tobaccos— Am Suma. 15% ... 15% 16 Am Tob. . 117V* 117 117V* lib's Gen Cigar. 100% 98 lOO’i ... Tob P (B) 94 Vs 94% 94% 94 Vs Lorril.ard. . 30% 36% 38% 30 7* U Cig Stor. 95 % 94 Vi 9o 93 •: WHEAT PRICES GO DOWNWARD Other Grains Follow Leading Cereal Down. Bu United Press CHICAGO, Oct. 14.—Wheat was the main attraction in initial dealings on the Board o£ Trade today. The leading cereal was weak and lower. Coarse grains made inconsequential changes. Without the support of cash buyers wheat sagged. Disappointed longs and shorts were best sellers. The latter looked for the strong cash situation to assert itself in later trading. Liverpool made fractional upturns. Sentiment in corn was Inclined to be bearish. Trade at the opening presaged little activity during today's session. Oats started unchanged on a featureless market. Provisions dropped on a continuation of cash selling. Chicago Grain Table —Oct. 14— WHEAT — Prev. Open. High. Low. Close, close. •Dee 1.43% 1.44% 1.41% 1.42% 1.44% tDec 1.43% 1.44 1.41 1.41% 1.44% .•May 1.43% 1.43% 1.41% 1.41% 1.44 tMay 1.42% 1.42% 1.40% 1.41% 1.43% CORN— Dec.. .77 .77% .76 .75% .76% May. .81 .81% .79% .79% .80% OATS— Dec.. .39% ■ .39% .39% .39 Vs .39% May. .44% .44% .43% .44 .44% LARD— Oct. 15.60 15.90 15.60 15.90 15.75 RIBS— Oct nominal 15.70 15.32 RYE— Dec.. .81% .81% .80% .80% .82 May. .87% .87% .85% .85% .87% CHICAGO. OoL LL—Carlo’. receipts were: Wheat. 43c: corn, 131; oats. 116. rye. 2. CHICAGO. Oct. 14.—Primary receipts: Wheat. 1.375.04X1 against 3,791.000: corn, 414.000 against 1.1)36.000; oats. 857.000 against 1,867.000. Shipments: Wheat. 1.516,000 against 3.006.000: corn. 227.000 against 373.000; oats. 881.000 against 859.000. CHICAGO. Oct. 14. —Wheat—No. 2 red, $1.52%. Corn—No. 2 yellow. 83% @ 84 %c: No. 3. 83 (ft 83 %c; No. 4, 81 %ft 82 %e; No. 5,81 c; No .6. 80c; No. 2 mixed. 83 Vie: No. 3.82 c: No. 5,80 c: No. 2 white. 83%c: No. 3. 82%@83c; No. 4. 81®81%e: No. 5. 80c. Oats No. 2 white. 39 Vi ft & 40% e: No. 3. 38% Si;4o%e: No. 4. 38%c. Barley—6oft7Bc. Timothy—s6.7s @7 50. Clover 29.50.

COURT 0. K.S MERGER Minority Stockholders Fail to Prevent Consolidation. Bu United Press RICHMOND, Va„ Oct. 14.—Minority stockholders of the Chesepeake & Ohio Railroad failed to prevent the proposed Van Sweringen Nickel Plate merger when Judge Moncure dismissed in Chancery Court a bill in equity which asked that officials bo restrained from consummating its merger with the Nickel Plate consolidation. An appeal will be taken from the decision, it was announced. BANKERS TO COOPERATE President Assured Foreign I*oans Will Be Watched. Bu United Press WASHINGTON, Oct. 14.—Assurances that A.meriean bankers will not lend money to foreign governmental againste th administration’s wishes, were given President Coolidge today by Representative Hamilton Fish, Jr., New York, Republican, member of the House foreign affairs committee.

Produce Markets

Eggs—Strictly fresh, delivered at Indianapolis. 40c. loss off. Poultry—Hens. 20c: Leghorns. 16c: springers.. 18c: Leghorns and blacks. 16c: voung turkeys. 30c: old turkeys. 22c; cocks and stags. He: ducks. 15c. Butter—Jobbers' selling prices for creamery butter, frpsh prints. 54 056 c. Butterfat—Local Jobbers are paying 62c a pound for butterfat. Cheese—Selling prices: Domestic Swiss. 32 0 44c: Imported. 63 0 69c: New York brick. 27 He: Wisconsin limburger, 27 H ® 28Hc: Wisconsin Daisies. 27 hie: Long Horns. 28® 29c: American loaf. 33c: Dimento loaf 36c: Swiss loaf. 39c. CHICAGO. Oct. 14.—Butter—Receipts. 9.593; creamery. 49tic: standards 47 He; lirsts, 44H@46c; seconds. 41034 tic. Eggs—Receipts. 4,203; ordinaries, 28® 34c; firsts, 40041 c. Cheese—Twins, 23® 23 He; Americas, ( 24 He. Poultry—Receipts. 12 cars; fowls. 15® 23 He. spring. 21Hc: ducks, 20c: geese. 20c; turkeys. 250; roosters. 16c. Potatoes—Receipts. 366 cars. Quotations: Wisconsin and Minnesota round whites. $2.15®2.40: Minnesota and North Dakota early Ohios. $2.70 02.80. CLEVELAND. Oct. 14.—Potatoes: Michigan round white and Maine and Ohio. $3.5003.75: Now York. *3.75: Idaho, $2.76 per 90-lb. sack. Poultry—Express fowls, 25® 26c: Leghorns. 15® 16c: springers. 24® 25c: roosters. 15 <u 10c: ducks, 20® 26c; geese. 20@ 23c. Butter— Extra in tubs, 53® 54c: extra firsts. 51® 52c: firsts. 48H®49Hc; packing stock. 35c. Eggs—Northern Ohio extras. 62c; extra firsts. 47c: Ohio firsts. 43c; western, 42 He. NEW YORK. Oct. 14.—Flour—Quiet and firmer. Pork—Quiet: mess. S4O. Lard— Steady; Midwest. *16.40® 16.60. Sugar— Raw easier; 00 test, 3.90: refined steady: granulated. 5.05 05.20. Coffee—Rio N0.7, 19 He: Santos No. 4. 22H®23He. tallow—Weak: special to extra. 0% 0 10c. Hav—Quiet: No. 1. $1.45: No. 3. *1.16® 1.26; clover. *[email protected]. Dressed poultry —Firm: turkeys, 20®65c: chickens. 20 0 42c: capons, 35® 5 <*: fowls. 16® 36c; ducks, 16@28c; Long Islands. 27 028 c. Live poultry—Dull: geese quoted nominal. Cheese —Quiet: State milk common to special 21®27e: Young Americas,, 26 H 0 25 He. Butter —Firm: receipts. 16.237; creamery extras. 51 0 62c. Eggs—Weak: receipts. 22.115: nearby white fancy. 76® 77e: nearby State white. 61 0 75c: fresh firsts. 41 H ®540: Pacific coast first to extras. 50@70He: western whites. 43 0 75c.

THE INDIANAPOLIS TIMES

Y LOWER

Cattle Trading Slow; Calves, Sheep and Lambs Steady. Iloc Priors Day bv Day Oct. Bulk. Top Receipts 8. 12.25 (ft 12.40 12.50 8,000 9. 12.00 (it 12.L5 12.25 8.000 10. 11.70(1* 11.8.) 12.00 0.500 12. 11.60af11.85 12.00 0.500 13. 11.bo 12.00 9.000 14. 11.65 11.85 8.00*) Hog prices at the Indianapolis Livestock Exchange followed the trend of competitive markets and ruled 10@20c lower today. The run of hogs estimated at 8,000 and 126 hold-overs from the previous session, was responsible for the slump. Light weight material was again the most desirable and consequently commanded a premium. This class of hogs sold at $11.75 and in somo cases choice lights commanded a price of $11.85. The bulk of the run moved scaleward at prices averaging $11.65. Hog Price Range Trading was done over the following scale of prices; heavies brought $11.50; medium weight hogs sold at $11.65; lights cashed at [email protected]; light light swine and pigs moved at $11.75. smooth packing sows brought $10.50@11; roughs averaged $9.75®) 10.25; and stags were [email protected]. Trading in the cattle market was slow in starting, because of the large run of material estimated at I, Actual saleß of any volume were not made till the middle of the morning's session. Bidding was Inclined to be slightly lower on steers while other grades of stock held fully steady. One load of choice stuff was priced at $12.75. This was fully 25c lower. Prices on steers ranged from $7 to sl3 50. Heifers ranged from $5 to $lO. Cows moved at s4@B. Calf Values Steaily Prices in the sheep and lamb division of the Exchange were fully steady with the previous day's quotations. A light run estimated at 400 moved with a price of sll@ 15 on choice lambs and ss@7 on the best grades of sheep. About 800 veals were seen in the pens in the calf division of the Exchange and prices remained steady under the influence of an even demand from buyers. The top price of the morning was $13.50. But most of the trading was done at sl3 @13.50. .. —Hoes— Heavies SI 1 50 Mediums .." i. . 11 65 IJ&ht hoys 11.5 ft 11.75 Lig-ht lights 11.75 Smooth sows 10.50 ft 11.00 Rough sows 9.75 ft 102)5 Slags 9.00 ft 10T>0 —Ctiftl**— Good to choice fat steers...s 7.00 ft 13.50 Medium steers 6.00 ft 7.00 Choice heifers 5.00 ft 10.00 Common to fat heifers 3.00 ft 5.00 Prime fat cows 3.00 ft 8.00 Medium cows 2.00 ft 3.00 Canners and cutter cows... I.ooft 2.00 Fancy veals . . . Good veals 13.00 ft 13.50 Medium calves [email protected] Common veals 5.00 ft 8.00 —Sheep and Lambs— Choice lambs $15.00 Mediums 10.00 ft 13.50 Good to choice sheep 5.00 ft 7.00 Fa;- to medium 3.50 ft 5.00 Culls to common 1.00 ft 3.50 Other Livestock Oct. 14.—Cattle—Receipts, 14,000; better grade fed steers. ali weights fully active steady: weighty kinds 111 broadest demand: others and western grassers slow: opening around steady; early top 1.297-pound steers. $15.25; shestoek uneven, steady, 15c lower: bulls weak 100 off: vealers around 50c lower, largely sll 50 and below to packers: stockers and feeders less active than yesterday. Sheep—Receipts. 26.000: market for fat lambs slow; most early bids by packers around 50c lower; few early sales; fat native lambs to outsiders, $15.75: looks out of line: feeding lambs steady: several doubles $15.50 ft 10.75: practically no early sales fat sheep. Hogs—Receipts. ±4.000: market steady: top. $11.90; bulk. $11.30ft11.70: heavyweights, $11,400 11. medium weights. $11.55 ft 11.90; lightweights. sll ft 11.90: light lights. %10.25 ft 11.90; packing sows. s9.3oft 10.10: slaughter pigs. $11.25@12. CINCINNATI. Oct. 14.—Cattle Receipts. 500; market very dull; shipping steers, good to choice. $8 ft 12. Calves— Market steady; good to choice. $12@13. Hogs—Receipts, 4.000: market steady; good to choice packers and butchers. sl2. Sheep—Receipts, 1.200: market steady: good to choice, steady, $4 ft 6.50. Lambs —Market 50c lower; good to choice. $14.50 ft 10.50. LAST BUFFALO Oct. 14—Cattle— Receipts. 625: markte. slow and steady; shipping steers. $9 ft 12 butcher grades. s6.ooft 9; cows. $2.25ft 6.50. Calves— Receipts. 400. market, active and steady: cull to choice. $3.60ft15. Sheep and lambs—Receipts. $.300: market steady, 25c lower on lambs; choice lambs. slsft 15.50; cull to fair. s9ftl4: yearlings, $8 ft 12: sheep s3fti). Hogs—Receipts, 2,400; market slow, steady to 10c lower; Yorkers. $12.40 ft 12.50: pigs. $12.40ft 12.50 mixed. $12.35ft 12.40: heavies. sl2 012.40; roughs. sloftlo.so. stags. $ 50 ft 9. EAST ST. LOUIS. Oct. 14.—Cattle—Receipts. 6.000; market tending lower: yearling heifers. $5.50 ft 7.50: cows. $4.50 ft 5.50: ennners and cutter). $2.75ft 3.50; calves. sl2 ft 12.50: stockers and feeders. 55.60 ft 6.50. Hogs—Receipts, 14.500: market uneven, weak to 20c lower; heavies. $11.40(811.80: mediums. $11.60 @11.85: light. $11.60 ft 11.90: light lights. $11.60011.90; packing sows. s9.isft 10.25: pigs. $11.50011.80: bulk. sllft 11.75. Sheep—Receipts. 2.000; market weak; ewes. $5ft7.50: canners and cutters. $1.50 ft 4; wooled lambs. sl3 ft 15.25. PITTSBURGH. Oct. 14.—Cattle—Reoelpts. light; market, steady: choice. $10.50® 11. good. $9.50® 10: fair. $6.50 ft 7.75; veal calves. sl4® 14.60. Sheep and lambs—Receipts, light: market, slow: prime wethers. $8.25ft8.75: good. $7.50 ft 8: fair mixed. $6.2507; lambs. sll ft 15.75. Hogs— Receipts, light: market, higher; prime heavy $12.25ft 12.35: mediums. $12.30 ft 12.40: heavy Yorkers. $12.350112.40 light Yorkers. $12.35ft 12.40. pigs. sl2.3sfti 12.40: roughs. slo® 11; stags. s6ft7. CLEVELAND. Oct. 14.—Hogs—Receipts. 3.500: market steady. 10c lower: Yorkers. sl2: mixed. sl2: mediums. sl2; pigs, sl2; roughs. $10: stags. $6.50. Cattle Receipts. 400: market alow, unchanged. Sheen and lambs—Receipts. 2.500; market 25ft50c lower: top. $15.50. Calves —1 Receipts, 400: market strong: top. $14.50. TOLEDO. Oet. 14.—Hogs—Receipt*. 400; market, firm: heavies. $11.75 ft 12: mediums. sl2ft 12.10: Yorkers. sl2.loft 12.25: good pigs. sl2. Calves—Market, steady. Sheep and lambs—Market, steady.

In the Sugar Market

Bv Thomson A McKinnon NEW YORK. Oct. 14.—N0 matter how bearish an economic condition, there is always a turning point, a sort of irreducible minimum. This morning the Journal of Commerce publisher-some Cuban news that should set trade thinking. Planters are preparing for extreme measures to reduce next season's sugar supply, and they are certainly justified, as no human should be expected to produce an important world necessity at a loss. This may mark thr actual turning point jn the market, and an investor now entering the market may feel reasonably certain that any further declines will be moderate temporary. Local Wagon Wheat Indianapolis mills and grain elevators are paying $1.55 for No. 2 red wheat Other grades on their merits. ENGINEER IN CLOSE CALL Bu Times Special WARSAW, -Ind., Oct. 14.—Harry Bitner, Ft. Wayne, Pennsylvania locomotive engineer, had a narrrow escape from death when a driving rod on his engine broke and demolished one side of the cab as the train pulleld into Warsaw from the East.

STEPHENSON’S JURY SPEEDED (Continued From Page 1) of the morning session. Kane was attempting to ascertain Rushton’s view toward the element of doubt which is considered by the law in trial. “Well, now, if the witnesses up there proves them guilty, they’re guilty, but if the witnesses don’t prove Iheiu guilty, they hain’t guilty.” he said. The courtroom broke into a spasm of delight, and it was sometime before order was restored. Rushton, looked about apprehensively and spotting Kane, who had sat down, he asked: , “Are you done with me?” Kane assured him that he would not be quizzed further. There was a lull while the court, attorneys, and spectators, were readjusting themselves. Suddenly Rushton inquired. Excuse Xo Good "Well, I eon’t understand this capital punishment stuff—what is It?” ; There was another outburst and it was evident that Rushton having seen numerous other jurymen dismissed because of their, opposition to capital punishment, wished to be excused himself. “I didn't ask you anything about capital pun shment, did I?” replied Kane, much to the disappointment of the talesman. So Mr. Rushton stayed on tht jury. I*arger Crowd A slightly larger crowd filling perhaps one-third of the courtroom was present. It included several nonresidents of Noblesville. Stephenson, the principal defendant, has lost his broad smile and is watching the questioning closely. Gentry wears the most serious expression of the three, but Klinck Is apparently uninterested in the proceedings, except to laugh at the oeeasional funny remarks the talesmen make. Alfred R. Hutton, Noblesville barber, was the first talesman to be questioned by the defense after the State passed the jury. Guilty, Says One He was rebuked when he expressed the opinion the defendants were guilty. “That’s a very improper remark,” your honor,” said Inman. Stephenson smiled. Klinck laughed aloud, but Gentry never changed Ills serious expression. “No man, I don't believe, with a normal mentality, but would form some sort of an opinion from reading this case in the newspapers,” said Hutton. Inman asked Hutton if he had talked about this case.

Disgusted N’ow “Oh yes, so much I've sort of gotten disgusted with it.” “Have three Indianapolis women, whose names I do not know, talked to you about this case?” “No, sir.” “Have you talked to two men in the presence of Judge Cox of the defense?” “Not that I know.” “Do you know an Indianapolis detective by the name of McMurtry. or another by the name of Lewis?” “No, sir.” Jesse McMurtry, a detective, and Walter Lewis, former head of the department of justice bureau at Indianapolis, both of whom were sitting with the State's attorneys at the time, were the individuals to whom Inman referred. S. B. Pike, who succeeded Hutton, in chair one, was also excused when he expressed an opinion. Inman asked Pike, if Gertrude Elder, and a “Mrs. Ellingwood,” or “N’ubhin Brooks” all of Noblesville had interviewed him on the case. He also asked If two Irvington women, “whose names I cannot give you,” had talked to Pike. Pike said he had talked to none of the persons indicated, but he had an absolutely firm and fixed opinion that would take a lot of evidence to remove. ' Conference Held Kane, continuing the perfunctory interrogation of talesmen, passed Tuesday by the defense, caused a stir in the courtroom when he asked permission of Judge Sparks to hold a private conference with the other attorneys on his side. With Will H. Remy, Marion County prosecutor, the group retired to an outside room, where they talked in low tones for about five minutes. Returning ta the courtroom, Kane conferred briefly with Judge Sparks and resumed the questioning of talesmen. Rue Hlnshaw of Carmel was called to the jury box to replace Charles Boden, who was excused late Tuesday when challenged for cause. Hlnshaw, a garage man, was asked If he wese opposed to capital punishment. He said he was not. “You have no conscientious scruples against administering capital punishment, have you?" Kane asked. “No, sir,” Hlnshaw said. Kane then directed his questions toward several State officials and employes, who were brought into the case Tuesday afternoon. • “Do you know Henry Roberts the Statehouse custodian, who comes from Carmel?” Kane asked Hinshaw. “On sight,” Hinshaw answered. Pretty Conspicuous “He’s pretty conspicuous In Carmel life, isn’t he?” Kane continued. "Yes, In size,” was Hlnshaw's answer. “Do you know Milo Hershey?” “On sight.” Hershey Is a member of the State motor police. “Have you talked to a man named Losey?” “No, sir,” was Hinshaw's reply. Losey was dropped from the State police force a few weeks ago. “Do you know Howard Bennett, another motor policeman?" “No.” “Do you know a man name Humes, the head of the State police?” “No, sir.” Kane referred to Robert T. Humes, chief of the tSate police force. Kane then questioned Grant Carey, briefly and passed him. Kane then examined Fred Harper. The attorney and Harper became in-

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Dredge Digging Gold From the Bottom of a Stream.

LTHOUGH gold is widely distributed over the earth, It _J occurs mostly in such small quantities that it can not be profitably extracted. It Is even found in minute quantities In sea water. Despite the fact that gold has been mined from remote antiquity, the amounts recovered have been so small and have required such expenditure of time and labor that it remained the most precious of metals until the discoverey of a few even rarer metals In recent times. The total world production of golih from the discovery of America to 1916, Is estimated at about 16% billions of dollars, weighing about 20,500 tons—enough to make a circular tower of gold 20 feet In diameter and 138 feet high. Most of the gold mined in the earlier days was produced in the Spanish Peninsula, Greece, Asia Minor, India, and the Ural Mountains of Russia. After the discovery of the New World great supplies were obtained from Central America, but the total production from that time to the discovery of the California gold fields was less than the average annual production today. An enormous jump in production resulted from the discovery of the California deposits (1848) and other great fields, the most important of which are, with dates of discovery: Australia (1851); British Columbia (1858); Witw.iterstrand, South Africa (1886); Alaska (1897). The great gold producing region today is the Wltwatersrand district of South Africa. Johannesburg is the largest gold-mining center with an output which some years has exceeded $150,000,000. The United States, Including Alaska, ranks next to South Africa in production, with California, first; Colorado, second and Alaska, third. Until the World War, Russia produced twice as much gold as all South America. The Mysore mines in India have been big producers and have shafts more than 4,000 feet deep. The deepest gold mine in the world is the Morro Velho, Brazil, 6,126 feet deep. Gold Is found both native—that is, uncombined with other minerals—and in combination with various other elements. Native gold occurs in rocks, In many cases hi quartz

volved in the discussion of the question of reasonable doubt. “You know the State does not have to prove a defendant guilty beyond all doubt, only reasonable doubt,’’ said Kane. Floyd Christian, defense attorney, objected to such a definition, and he and Kane began to sqtfabble. “Go ahead, gentlemen, go ahead,” said Judge Sparks, rapping for order, "I’ll Instruct the jury, what I pleaso on that question of doubt.’’ Tile attorneys promptly hushed. Judge Sparks rules the courtroom with an iron hand. "It's simply a question of two kinds of doubts, Mr. Juror,” said the judge, evidently feeling sympathy for the talesman who was lost In the maze of legal technicalities. "There Is reasonable and unreasonable doubt, that’s all.” Opposes Death "I have conscientious objections to capital punishment,” said Harper in reply to a question. Stephenson and Gentry assumed a serious look at this juncture, but Kllnch paid no attention, busily reading an account of Tuesday’s trial in a Chicago newspaper. Kane questioned Fred Johnson another farmer, at length. Sheriff Involved "Has the sheriff talked to you about this case—Sheriff Gooding, I mean?” "No,” Johnson answered. “Are you conscientiously opposed to capital punishment?" Kane asked him. "Yessiree. I don’t believe in taking a man’s life,” Johnson replied. Aside from that Harper said he believed in correct and strict enforcement of the criminal laws. He also stated he believed in the enforcement of law against all classes of offenders, regardless of political or social prominence. Kane then passed on to W. O. Inman, who also said he was opposed to capital punishment. Kane also became Involved in a discussion with Inman on the reasonable doubt theories, and Judge Sparks again took a hand when the defense objected te Kane's definition of reasonable doubt. Judge Rules "The State does not hope to prove a man guilty beyond all possible doubt, just beyond all reasonable doubt," ruled the judge. Inman also said he was acquainted with Roberts, the Statehouse custodian, but that he had not talked with Roberts about the case. Neither had he talked with Martha

GOLD—^The Metal by Which the Wealth of the World Is Measured.

veins, and some iron pyrites. It also is found in some sands and in beds of gravel deposited by rivers. There are two principal methods of mining gold: (1) "Placer” mining foralluvial deposits, and (2) “lode" or "quartz" mining, where the gold is in solid rock. Placer mining was known in ancient times. Gold washing as early as 4,000 11. C. Is shown In pictorial rock carvings in Egypt. The legend of the Golden Fieece may have been suggested by the use of fleeces to catch gold In ditches and in fumes. In placer mining nature has already done the greater part of the work. In the process of wearing down the “eternal hills" by erosion, gold, being one of the heaviest materials (1,927 times as heavy as water), naturally goes to the bottom of streams. There it is deposited in the form of scales or nuggets, for the most part in the same shape it was originally held In the rock. The size of the particles varies from fine powder (gold dust) to the great Australian “Welcome Stranger” nugget, weighing 2,520 ounces—the weight of a medium-sized man. The separation of gold from the gravel and sand is accomplished on the same principle that has been In operation through the agencies of nature. Masses of the gold-bearing gravel are stirred up with water and the heavy gold sinks to the bottom. This Is done on a small sfeak in a prospector’s pan, and on a large scale in sluices. In hydraulic mining great beds of gravel are washed out by the streams of water conducted through pipes like a fire hose. These jets are so powerful that men and animals have been killed by them at a distance of 200 feet from the nozzle. Gold dredging Is also carried on by means of flat bottomed boats with devices to dig gravel from the bottom of the stream or the bottom of the sea when the water is shallow. Os course, not all gravel and sands contain gold. Mercury, which readily unites with gold, is put into the gold bearing gravel, thus catching fine particles of gold which might otherwise escape. The resulting amalgam is separated by retorting—that is the mercury is vaporized by heat and the gold is left free to be melted into bullion.

Marson, a Democratic politician, and lobbyist during the last Legislature, nor Bennett, the ex-State policeman whom the State seems to suspect of some uterior motive in the case. Kane then turned to Fred Pfotenhauer, member of the Carmel town board. "I would punish all offenders alike, high or low,” said Pfotenhauer. "Have you talked to anyone about this case?” "No, sir.” "That’s strange,” said Kane, “There are a lot of good talkers in Carmel." Kane and the talesman became engaged in a scrap on the definition of reasonable doubt. Pfotenhauer said he would require the State to prove the defendant guilty beyond all doubt, reasonable or unreasonable. Kane asked the Judge to excuse him for cause, which was refused. Query on Death "Are you opposed conscientiously to capital punishment?" No, sir,” declared Pfotenhauer, firmly. “If It is on the statute books, it ought to be enforced." Stephenson seized a pencil and made some notes, after which lie oonfered with Floyd Christian, one of Ills attorneys, who shortly afterward left the courtroom for a few minutes. Kane then used a proem ptory challenge to set Pfotenhauer off the jury. Following tentative approval late Tuesday by the defense of the jury as It then was composed, Kane for the State began a persistent quiz of the veniremen to learn wether they had been approached by certain State officials interested in Stephenson. Roberts Mentioned Again "Do you know’ a man named Henry Roberts, who hibernates at the Statehouse and is commonly known ns the custodian?” Kane asked Arlie Carpenter, Arcadia farmer. "Did you ever talk to him?" Kane continued. Carpenter said he knew no one by that name. Kane then asked the various jurymen if they knew Martha Yoh Marson, who was a lobbyist dining tho 1925 legislature; Hersliey, a State policeman; Loosey, a former State policeman, who at that time was in the court room; Bennett, another former member of the State police, who now is under indletinent 'on charge of complicity in an alleged "shake-down” game and Foster Straifor, former em.ploye of Stephenson. Kane asked the jurymen if they

DAIRY EDITOR CITES PROGRESS Speaks at Closing Banquet of Association. "Progress in the dairy industry is nothing short of marvelous,” said i A. J. Glover, editor of Hoard’s Dairyman, Ft. Atkinson, Wis„ at a banquet at the Severin Tuesday night which closed a two-day session of the annual convention of the American Dairy Science Association. More than 200 attended. Announcement was made of the a Wit ids and presentation of prizes in the Inter collegiate Judging contests. Team standing first in butter was South Dakota State College; first in milk, West Virginia State University: first in cheese. lowa State College; first in all products, lowa State College; first in judging all breeds, lowa State College; first In judging Holsteins, South Dakota State College; first In judging Jerseys, lowa State College; first in judging Guernseys, lowa State Col- 1 lege; first in judging Ayrshires, University of Kentucky. C. C. Hayden, director of the agricultural exi>eriment station at Wooster, Ohio, was elected chairman of the production division of the association, Tuesday. G. C. Schaffer of the University of Minneasota, secretary; A. C. Baer, of the University of Oklahoma chairman of the manufacturing division and C. D. Dohle. of Pennsylvania State College, secretary. C. F. Wylie of the University of Tennessee was chosen chairman of the advanced registry division and W. C. Peterson of the University of Minnesota, secretary.

had been approached by any of these individuals since being impanelled for the Jury. All said no. SUIT TRANSCRIPT FILED Seeks Damages From Stephenson, Holmes and Insurance Company. Transcript of the suit in which the Marion County State Bank seeks damages totaling $G,750 and interest from D. C. Stephenson, Ira M. Holmes-and the Great American Insurance Company was filed Tuesday In Federal Court. The suit was originally filed in Superior Court One, but Judge James M. Leathers ruled it a Federal case. The suit alleges that the insurance company Insured property at 5432 University Ave., for $25,000. It was then owned by Robert I. Marsh, but when sold March 1, 1924, to Stephenson the insurance was reassigned. It is alleged that Stephenson executed a mortgage on the property' for $15,000, giving the Insurance policy as security. On April 17, fire damaged the property to the extent of $6,000. It was then owned by Holmes, but Stephenson claimed an Interest. Both men were named defendants when they refused to join the bank in suing the insurance company, the suit said.

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