Indianapolis Times, Volume 38, Number 236, Indianapolis, Marion County, 7 January 1927 — Page 21

•TAN. 7, 1922.

Automobiles for Sale Start the New Year with one of our reconftitioned cars. We believe ours is the best selection in the city. 1925 Chrysler 70 Coach 1925 Nash Coach 1926 Chrysler 60 Coach 1925 Essex Coach | 1925 Willys-Knight Sedan 1924 Ford Fordor 1926 Ford Coupe .1925 Chrysler Sedan 1926 Series Chrysler 58 Coach 1924 Hupmobilc Coupe < 1925 Ford Coupe 1924 Maxwell Coach 1925 Series Hudson Coach ' 1925 Buick Coach , 1924 Nash Touring 1925 Chrysler 70 Roadster 1925 Jewett Coach 1923 Maxwell Touring 1925 Overland Touring 1924 Chrysler Brougham 1924 Dodge Coupe 1926 Dodge Coupe 1922 Studebakcr Touring 925 Ford Roadster 1924 Hupp Touring FAIR TRADES P EASY TERMS Carl H. Wallericln INCORPORATED USED CAR DEPARTMENT 314 N. Delaware Bt. Lin. 5588. Open Evenings and Sunday THE BIG DOWNTOWN USED CAR STORE "SPECIAL REPOSSESSED FORDS New in every respect. Four 1926 Tourings, one 1925 Touring. These cars can be purchased at a pronounced saving over new car prices. Snrna3ll Payomeots Dowra Many Other Makes to Select Fromm WMR P 825 N. nflflnmons St.

Again Citizens Offer an Unmisnal Used Car Sale These cars are priced, in most cases, below ‘‘Blue Book” figures. Sale Starts Promptly at &30 Saturday Morning, Jan. 8,1927 Each Car Plain Figures ' Price. Price. Old. Sale. j 1924 Buick, T-passenger sedan $ 975 $ 775 1924 Wlllys-Knlght 5-pasenger sedan 800 725 1925 Hudson coach 675 650 1924 Buick sedan, 5-passenger 875 700 1925 Chandler Met sedan 900 775 1925 Jewett coach 625 525 I 1923 Studebaker Big 6 coupe 475 400 I 1922 LaFayotte sedan 450 375 I 1920 MarmtJTUeport. 275 225 1923 Nash coach 350 235 1923 Dodge touring 300 250 1926 Hudson coach ,Y 675 550 1921 Single Six Packard sedan 550 1922 Single Six Packard sedan 1,200 1923 Single Six Packard sedan 950 Packard Twin Six coupe 395 295 1924 Buick Coupe, 4-passenger 875 725 1924 Willys Knight coupe. 2-passengpr 850 750 1924 Hudfson coach 525 425 1924 Buick coupe, 2-passenger 775 675 1923 Chandler Chummy sedan 550 475 1926 Dodge sedan 600 . 1923 Cole 8 coupe 475 325. 1921 Hudson sedan 250 175 1924 Nash brougham 850 725 1922 Marmon speedster 650 1922 Buick sedan 475 37T> 1923 Rlckenbacker sport touring 325 215 1921 Single Six Packard touring 300 1921 Single Six Packard coupe 500 1922 Single Six Packard touring 850 750 1922 Single Six Packard coupe 1,350 1,100 , COME EARLY Open Evenings. Open All Day Sunday. TERMS IF DESIRED The Citizens Motor Car Company Packard Distributors Since 1904. | ft s s * 31 West Thirteenth Street. Main 6942.

Automobiles for Sale 1927 ESSEX COACH Guaranteed by us earn' as factory guarantees new car Price S6OO only. $l6O cash, balance financed $26.35 for 16 months. No trade on this price. Equitable Securities Cos. Garage 218 E. New York. Riley 5583. ESSEX COUPeH @New paint Bnd In the best of condition; s2so’ F. L. SANFORD CO. 833-37 N. Mrridian. Main 4366. FORD. 1028 TUDOR Thla car is in fine condition. Must be •ccn to be appreciated. Priced at a real aavlnsr to you. PRANK HATFIELD CO. 026 N. Capitol. Open eveninsr and Sunday. iFORD. 1923 coupe; soitd paint. 6 excellent Urea, lock wheel, shock abaorbers. motor just overhauled: soo down. $16.55 per mo. STONE CHEVROLET CO., 220 E. N York. FORD. 1926 STYLE COUPE Thle oar has nice appearance and is In wonderful condition Priced richt. FRANK HATFIELD CO. 625 N. CAPITOL, AUTHORIZED FORD DEALERS. Open Evening and Sunday. FORD. 1923 four-door aedan: lock wheel, visor, good clean upholstering. The price don'‘ indicate the quality of this car Better see it. Only $260: terms STONE CHEVROLET CO.. 540 E. Wash. FORD. 1926 ROADSTER We have 10 of these in our stock: all In fine condition; some have had only a few days use lou cannot afford to buy without looking these over FRAMS HATFIELD CO. 626 N. Capitol Ave. 1020 FORD coupe: $75 down, balance term * ROY WILMETH CO. 720 N. Meridian St. Lin. 6876. Open evenings. FORD. 1924 coupe: balloon tires, heater: runs and lookß good. Here is a real good car for S2OO. with S7O down. sl4 per month. STONE CHEVROLET CO.. 220 E. New Y’ork. FORD, one-ton truck: real good shape: bring $25 and drive it home. Lin. 8750. 032-34 Mass. Ave. FORD. 1926 TOURINGS Six to select from: all in fine condition; priced at a real saving to you. FRANK HATFIELD 026 N. CAP.TOL Open Eve. and Sunday STTJTZ STUTZ SPECIAL TODAY 1923 Maxwel Touring $l5O 1923 Stutz Sport $3*22 1922 Riekenbaoker Sedan S.JoO 1923 Stephens Touring $275 1921 Stephens Sedan S3OO 124 Peerless Coupe sloo 1920 Essex Coach i §425 1923 Cole Touring s2oo STUTZ INDIANAPOLIS CO. 957 N. Meridian. Open Evenings and Sunday A. M. 1925 OVERLAND 4-door sedan; runs like /gfF&* anew car at the low price of $445. F. L. SANFORD CO. 833-37 N. Meridian. Main 4366, ESSEX COACH 1925 MODEL. BALLOON TIRES, GOOD CONDITION. $350. BELMONT 0415. C. V. OYLER. 75 N. Ritter, please call at Times office for a box of Nancy Hart Candy.

Automobiles for Sale We have a complete stock of good used Fords. Come in and select your favorite model. Pay for it witli a small deposit and weekly PAYMENTS AS LOW AS $2.50 We will hold your car until spring w T itli no storage charge. You can buy now for less, pay without missing the money and have vour car when the delightful spring weather calJs you to the open fields. Prices on these cars range from SSO to $4lO and it will pay you to inspect these real, honest values. AM Personal' Service Guaranteed Wmgelfa-Slhiairp Company 962 No Meridian Open Evenings and Sunday. SB9 JO Casln 1923 Overland Touring (winter inclosure). 1921 Hupmoblle Tonring. 1923 Chevrolet' Touring 1922 Lexington Touring. 1922 Overland Sedan. ‘ 1922 Oakland Roadster. 1922 Ford Touring. 1921 Kissell Roadster. 1923 Monroe Roadster. 1922 Cleveland Touring. 1923 Velie Roadster. Ford Cdupe. Cadillac Touring. Cole 8 Touring (winter iucloaure). $89.00 is the price of any of the above cars—not the down payment. The Baxter Cos. 1142 N Meridian Lin. 1527. Open Evenings. / Come in and Pick Out a Car for $5.00 or SIO.OO Down for Future Delivery Open ;*nJ closed models. Overlands, Fords, WillysKnights, Oaklands, Essex, Maxwell, Oldsmobile and Studebakers. I 1923 Star Touring. 1 Roraer Sport Touring. Capitol Overland Company Capitol at Michigan. LONG AUTO SALES ni 1114 N MERIDIAN OUismobilc. 10124 model. 4 pa,**. eoupo rebuilt, and refinished. .5 almost new bal loon tree: best buy in town: $450. Overland !’-door G-cylinder sedan; bought July. 1G26. very little mileage. SGOO Terms or your old ear in trade. LONG AUTO SALES CO. 1114 N. MERIDIAN. Lincoln 6866. NASH SEDAN 5 GOOD TIRES, UPHOLSTERAND PAINT IN VERY GOOD CONDITION. A BARGAIN FOR SOMEONE. $475. LIN. 1025. nash~sedan7 ' 1924; 4-door; beautiful (fllPlJ duco finish; ready for the road; $675. F. L. SANFORD CO. 833 37 N. Meridian. Main 4366. OAKLAND coupe: new paint, good tires and mechanically A-l: real bargain at $lO5. Terms. OAKLEY MOTOR SALES 1063 65 S. Meridian Drexel 4743 R*KENBACKER, %at(* model touring". with winter inclosure; balloon tires. 4wheel brakes, loaded with extras: traded in by original owner on Chevrolet landau. This car has had excellent care: will accept some trade. STONE CHEVROLET CO.. 540 E. Washington. 1924 OLDSMOBILE ® 4-pass, coupe, completely equipped, new paint, practically new tires; $396. . F. L. SANFORD CO. 833-37 N. Meridian. Main 4306. FORD roadster. 1026: lock wheel, balloon tires, mileage on this.ear not to exceed 2.00(1 miles: down payment SBS SMITH A MOORE. Authorized Ford Dealers 528 ! S. Meridian St. Main 6650. FORD coupe 1928: lock wheel, balloon tires, motor A-l: down payment $75. SMITH & MOORE. 628 S. Meridian St. l Main 6650

I THE INDIANAPOLIS TIMES

PORKERS ADVANCE 10 TO 20 CENTS

NEW YORK MART QUIET, ORDERLY DURING FORENOON Brokerage Loans Cheered by Increase Exceeding Past Years. BULLETIN Bv Luffed Prett NEW YORK, Jan. 7.—The Dow-Jones Financial News Service and the Wall Street Journal received the first market reports by Telephone from London today. London reported the market steady. Bv United Presi NEW YORK)) Jan. 7.—Opening steady, the stock market moved in a quiet, orderly manner In early dealings today, with prices tending down In several sections. The Wall Street Journal’s financial review described the trend as follows: “Wall Street devoted considerable attention to the stock exchange's December report on Drokerage loans and was greatly encouraged by the fact that a considerably larger increase had been shown than In the preceding periods of 1925 and 1924. This proof that the December rise in stock prices had not absorbed an excessive amount of credit strengthened confidence regarding the underlying strength of the market, and the general list displayed a confident tone In early dealings.’’ Professional drives were checked Automobiles for Sale GUARANTEED USED FORDS ALL MODELS _ EikjjjfeMl fit ,# ®i*sssov* AUTHORIZED FORD DEALER (125 N. Capitol OPEN EVENINGS AND SUNDAY T rucks RECONDITIONED TRACKS. VARIOUS KINDS AND SIZES. INTERNATIONAL HARVESTER COMPANY OF AMERICA. USED TRUCK DEPARTMENT. 1188 KEN. TUCKV AVK MAIN 2800. Houses for Rent 1.3042 V PENN.. 6 RMS.. MOD., GAR $75.00 302S N. PENN., 6 RMSMOD., GAR 65.00 2002 N. PENN., 9 RAIS., MOD., GAR 60.00 3945 N. CAPITOL, 8 RMS., Alt)D 60.00 2264 N. DELAWARE, 6 RMS., MOD 40.00 2646 ASHLAND, 6 RMS., MOD 40.90 406 HARVARD PL., 5 RMS., MOD., GAR 40.00 735 CARLYLE PL., 6 RMS., MOD., GAR 45.00 110 E. JJOTH. 6 RMS. M0D,,.. 35.00 331 W.*3OTH, 6 RMS., MOD.. 35.00 126 W. I9TH. 7 RMS., MOD.. 35.00 124 W. 13TH, 7 RMS.. MOD.. 35.00 2003 RUCKLE. 6 RMS., MOD. 32.50 1732 BELLEFONTAINE, 6 RMS.. MOD 30.00 541 E. NEW YORK, 6 RAIS., W. Pp 25.00 2227 WHEELER, 4 RAIS., ‘ w. rn 20.00 414 E. PRATT. 5 RMS.. E. L. 20.00 HOUSES SOUTH 1416 NAOMI ST., 7 RMS., MOD., OAR $35.00 1415 HOYT, 4 RMS., W. PD., GAR 20.00 1836 FLETCHER, G RMS., NEW PAPER 22.50 1055 WOODLAWN, 5 RMS. . 20.00 1332 WADE ST.. 4 RAIS., VV. PD 22.00 1205 ST. PAUL. 6 RMS 25.00 819 DALY ST., 5 RAIS., SEMI-MOD 20.00 17 S. HIGHLAND, 3 RAIS., W. PD 15.00 flats and apartments “OXFORD,” 316 E. VERMONT; 3 RAIS., $35.00; 4 RAIS.. $40.00. "GRAHAM.” 6302 BELLEFONTAINE. 1 MOD. SMALL APT., BATH, HEAT, $30.00. “HAMLET,” 440 E. VERMONT; 4 RAIS., BATH, WATER, $25.00. MONTCALM AND 18TH; 4 RMS.. BATH, HEAT, WATER, NEWLY DECORATED, $30.00. BUSINESS PLACES GOOD STOREROOMS, 121 AND 219 S. ILLINOIS, 42 JACKSON PL., 137 AND 139 W. MARYLAND, 103 S. CAPITOL. 1042 S. EAST, 611 MASS., 22 N. WEST. 6306 BELLEFONTAINE, 212 E. 19TH. STORE WITH MOD. FLAT OF SIX RAIS, OVER. OFFICE AND AIFG. SPACE IN LIBERTY BLDG. GET COMPLETE LIST AT OFFICE THE UNION TRUST CO

around noon by development of active demand for Steel Common, wMch rallied abruptly against coming back to 158*4 after reaching a low for the day at 154*4. Steel's resiliency waa created by the corporation’s -rapidly expanding opera tlona. Current schedules are understood to call for production at 86 per cent of capacity, a stepping up ‘of 10 per cent within a week. This evidence of basic strength gave the market a backlog of support. Borne success attended bear efforts on the downside In special stocks, but this was clearly due to unfavorable influences affecting these Issues. Heaviness In Mack trucks was caused by the belfef that a balance of better than $9 a share In the first nine months of 1926 will be cut down for the full year. Banks and Exchange —Jan. 7 INDIANAPOLIS STATEMENT Local bank clearings were $4,241,000.' debits. *8.378.000. WHEAT OPENS AT HALF CENT HIGHER Corn Also Advanced —Oats Remains Steady. Bv t'vitrd Prrt CHICAGO, Jan. 7.—Wheat opened *4 cent higher on the Chicago Board of Trade today. Liverpool was highi er, as expected, and Buenos Aires I showed a slight gain In prices, firmness and Increased export business of cash wheat being the chief incentive for renewed vigor in this pit. Corn opened % to %c higher than yesterday’s close,- reports that the corn borer has been found in Illinois giving traders a temporary bullish Teeling. Oats opened unchanged to higher than the previous close. This cereal continues to drag on the market, following the action of corn in a limited way. Provisions opened higher. Chicago Grain Table WHEAT— Frev. High. Low. 11 p. m. close. May 1.38% 1.37 % 1.38% 1.37 % July 1.20 (4 1.20 V 1.20* 1.39*5 CORN— /■ May 80*i .70% .80% .79*4 July 63‘a .83% .83% .83% OATS— May 49% .49% .49% .49% July 47 *a 47% .47% R 1 E May 100% 99% 1.00% .09% July 98% .08 .998% .97% LARD— January 12.30 .... 12.30 12.25 March 12.50 12.50 12.45 May 12.72 12.65 10.05 12.02 ftlBS— January 14.55 May 14.60 14.00 14.50 CHICAGO. Jan. 7.—Carlots: Wheat. 28; com. 231; oats, 74: rye, 0. CHICAGO. Jan. 7.—Primary receipts: Wheat. 640.000. against 532,000: com 709,000. against 941,000: oats. 401.000. against 657,000. Shipments: Wheat. 518,000. against 377. OOO; coni. 325.000 against 414.000; oats. 318.000, against 447.000. Indianapolis Stocks ■—Jan. 7 ——Stocks—* „ • Bid. Ask Amr Central Life 375 ... Amer Creosoting Cos pfd 101 . . Ad Rumely Cos oom 10 10% Ad Rumely Cos pfd 33% 34% Beit R R com 60 08 Belt R R pfd 65 00 Cent Ind Powder Cos pfd . . 87 92 Century Bldg Cos 100 Cities Service Cos com .... 60 % 91 % Cittes Service Cos pfd 91 Citizens Gaa Cos com 41>% 60% Citizens Gas Cos pfd 106 Commonwealth Loan Cos pfd 98% ... Equitable Securities Cos com 51 ... Hook Drug Cos com. 28% ... Indiana Hotel com 120 ... Indiana Hotel old 100 ... Indiana Pipe Lino Cos 60 ... Indianapolis Gaa 57 60 Indpls A Northwestern pfd . . . I Indianapolis St Ky 34 30 Interstate P Ser pr lien pfd 98 99 Merchants Pub Util Cos pfd. 99 Progress Laundry com . . 22% ... Pub Sav Ins Cos 13 Raub Fertilizer pfd 53 ... Real Silk Hosiery pfd ... Standard Oil Cos Ind 09 ... Sterling Fire Ins Cos 10 ... T H I & E com 2 7 T H 1 & E pfd 23 33 T H T & L Cos pfd 89 ... Union Trae of Ind oom ... Union Trac of Ind Ist pfd .... 10 Union Trac of Ind 2nd pfd. ... 2 Union Title Cos com 88 Van Camp Pack Cos pfd. ... 10 ... Van Camp Prod Ist pfd ... 91 % 00 Van Camp Prod 2nd 95 W abash Ry Cos com 41% ... Wabash Ry Cos pfd 77 ... —Bank Stocks— Aetna Trust and Sav Cos. ... 116 ... Bankers Trust Cos 132 City Trust Cos . 140 ... Continental National 110 ... Farmers Trust Cos 240 ... Fidelity Trust Cos 100 Fletcher American 170 ... Fletcher Sav and Trust Cos. 250 Indiana National Bank 268 269 Indiana Trust Cos 230 250 Livestock Ex Bank 162 172 Marion County Bank 175 ... Merchants Nat Bank 325 Peoples State Bank 185 ... Security Trust Cos 250 ... State Savings and Trust 95 Union Trust. Company .. . .405 430 Wash Bank and Trust C 0... 158 ... —Ronds— Belt, R R and Stockyards Is 90 ... Broad Ripple 6s 79 ... Central Indiana Gas 55.... 98 ... Cent Ind Power Cos Os. ... 09 ... Cent Ind Power Cos 7s 99 ... Citizens Gas Cos 6s 100% 101% Citizens St H R 5s 85 80% Horae T and T of W 6s 103 Indiana Coke and Gaa f15..102% ... Indiana Hotel 6s 98 ... Indiana Northern 5s 2 ... Ind Ry and Lt 6s .95 Jml Service Corp 5s 02% ... Ind Union Trac 5s 4 ... indpls Col and So 0s 99 102 Indpls Gas Cos 5s 99% 100% Indpls Lt and Ht 5s ...... 101 % ... Indpls A Martinsville 6s. ... 03 . . Indpls Northern 6s 23% 24% Indpls A Northwestern 5s . . 64 % ... Indpls A 8. E. 6s. . . 2 Indpls Shelby &BE6s .. . . 2 ... Indpls St Ry 4s ~..04 06% Indpls Trac and Term 55.. 94% 96 Indpls Union Ry 6s 101 ... Indpls Water Wks Sec Cos. .100 ... Indpls Water 6%s 103% ... Indpls Water 4%* 94% 05 Interstate Public Serv Hs 102 ... interstate Pub S Bs B%s. . 104 . . T H 1 A F. 6e 70 T H T & I.t 6s 93 ... Union Trac of Ind 8s 19% H% —Liberty Ronds—--Ist 3% s 101.40 101.62 Ist 4%s 102.90 103.02 2d 4%b 100.80 100.90 3d 4% s 10150 101.00 4th 4%a 103/5 103.57 V S Tr 4% s 110., J 110.30 U 8 Tr 4s 100.10 100.20 U S Tr 4% s 103.30 103.40 —Sales— Ten shares Van Camp Prod Ist pfd. . 91 % Peppermint Oil NEW YORK Jan. 7.—Peppermint oil— Natural. $4.60ft4.75: U. S. P., $5.25® 5.60* Legal Notices BOARD OF ZONING APPEALS NOTICE OF HEARING Notice is hereby given that Grover C. Mills has (tied with the board of zoning appeals a petition asking permission to placv a church building on the lot at 243730 Sheldon St., remodel and use same for church Purposes. A public hearing will be held by said board in Room 401 eity hall, at 2 p. m.. Tuesday. Jan. IS. 1927. at which time and Plata* all interested property owners will be given opportunity to la* heard with reference til irattirs set out in said petition BOARD OF ZONING APPEALS JAMES E. ROCAP. President MARIE VICTOR. Secretary.

Calves Move Down —Sheep Strong—Cattle Are Steady, —HX Price RangeDec. Bulk, Top. Receipts. 31. 12JX5 12.10 4.000 3?’ 18.10 1215 8.500 4. 11 JO 12.00 8.008 6. 12.10 12.25 7.600 6. [email protected] 12.35 0.000 7. 12.26 12.35 7,000 Following Thursday’s strong hog market, prices today advanced 10 to 20 cents on the hundredweight. At Chicago, the chief competitor of the Indianapolis stockyards, the market was strong but prices were not as high as here. , The fresh run was 7,000, 100 larger than the previous one. There were 448 holdovers today. The bulk of the trading was at the average of $12.25. The top price paid was $ 12.35. Packing sows, at slo(g> 11.25, ranged from steady to 25 cents higher. Hog Price Range Neither the customary two-weight scale nor the one used Thursday was employed today, but a four-weight basis instead. Porkers in the light group, 200 pounds down, were the ones bringing the new top of $12.35. Meat between 200 and 226 pounds sold at $12.30; 225-250 pounds, $12.25, and 250 pounds up, $12.20. One hundred less beeves were on the local market today than Thursday, the receipts being 800. This is the smallest cattle run for the week. The market, however, was unchanged. Beef steers "Sold at sß@ 10.50; beef cows, [email protected]; low cutters and cutter cows, [email protected]; bulk stock and feeder steers, [email protected]. Drop In Calves The calf market was 50 cents to $1 lower today, with a 900-head run, which Is 100 larger than Thursday's. This slight difference can hardly be given as the cause for the price decrease, though. Prices now stand where they were Wednesday. Good and choice vealers largely sold at sl6, wth best vealers at $15.50. Top fat lambs were strong to higher today. The higher prices came in spite of receipts more than doubling those for the previous run, %‘hich was 400, while today’s was 1.000. Westerns were held for around $12.50, natives selling at sl2. Bulk fat lambs were sll @12.25; bulk cull lambs. $3.50@9; ewes, $6 down; bucks, s2@4. —Hoes— Receipts. 7.000: market, hisher, 120-300 lbs *[email protected] 300 lbs. up 12.00@ 12.20 —CattleReceipts. 800; market, steady. Beef steers $7.25 @ 1 0.25 Bulk stock and feeder steers. 6.60@ 7.75 Beef COWS 5.00 hi 6.75 Low cutters and cutter cowa 3.50@ 4.75 —Calves— Re<*eipts, 900: market, lower. Best vealers *[email protected] Heavy calves 0.50@ 0.00 —Slieep— Receipts. 1,000: market, stronx. Top fat laribs $12.50 Bulk fat lambs 11.00® 12.25 Bulk cull lambs 5.50<i? 9.00 Ewes 6.00 down Bucks 3.00 @ 4.00 Other Livestock ' LOUISVILLE, Jan. 7.—Hours —Receipts, | IOO: market, roughs and stags steady, others 10c higher; tops. $12.25. Cattle—- | Receipts. 100: market steady. Calves Receipt % 150; market steady: good to choice. $11.50® 13: medium to good. $9 'all: out. $9 down. Sheep—Receipts. 50; market steady; top lambs. $10.50@11; seconds *7® 7.50 \ sheep. ss® 5.50. CINCINNATI. Jan 7.—Hogs—Receipts. 3.300: holdovers 1.060. market steady to 15c lower: 250-350 lbs., $11.75® 12.15: 200-250 lbs.. [email protected]; 160-200 lbs.. *12.35® 12.50, 130-160 lbs.. $13.25@ 12 50: 90130 lbs [email protected]; packing sows, $9.75@ 10.75. Cattle—Receipts. 850: calves. 500, market steady veals 000 up: beef steers. $7(0,0.50; light, yearling steers and heifers. $6.50@10' beef cows. $4.75(06.50: low cutter and cutter cows. $3.75(0 4.50. vealers. *13@16; heavy eaJves, $0(0 10; bulk stock and feeder steers. $6 @7. Sheep—Receipts, 550: market steady: top fat lambs. sl3: bulk fat lambs. $9.50® 13: bulk cull lambs. $4 @0; bulk fat. ewes. S3(O 5.50. , f i EAST BUFFAI/O. Jan. 7.—Hogs— Receipts. 4.000 holdovers, 235: market. 10 a; 160 town: 250-350 lbs. *12.40 '1l i 2.65; ,200-250 lbs $12.80® 12.95: 160-200 lbs.. ’ $12.75® 13.15: 130 l(i(i lbs.. sl3® 13.15; ] 90-130 lbs., sl3® 13.15: packing sows. $10.25® 11. Cattle—Receipts. 300: calves, receipts 1,300: market 250 up; calves stea/lv; vealers. slo® 18.25. Sheep—Receipts. 8,500: market steady to 25c down: bulk fat lambs. $12.75@13: bulk cull lambs, *10.50@11: bulk fat ewes. s6@7. EAST ST. LOUIS. Jan. 7.—Hogs Receipts. 14.000: market 10 @ 15c lower; 250-350 lbs.. $11.65® 11.90: 200-250 lbs.. sll @12.10: 180-200 lbs.. [email protected]: 1.30-1(10 lbs. $11.26® 12.20: 90-130 lbs.. $10.75 011.85: packing sows. $10,400 It. Cattle —Receipts. 800: market virtually no s tec sirs offered: beef steers. $7.50® 9.25; light yearling steers and heifers. *0 @8; beef cows, $5.2506: low cutter and cutter cows. $3.000 100; vealers. $14.76: heavy calves. s6® 8; bulk stock and feeder steers s7® 8. Sheep—Receipts. 500: market steady to 25c up; top fat lambs, $12.75: bulk fat lambs. sl2.r>o@ 13.7.>: bulk cull lambs. *8.50: bulk fat ewes. $5 <8 6. FITTS BURGH. Jan 7.—Hogs Re eeipts. 3.000: market active, steady to 10c higher; 250 lo 350 11}*$. $11.60012.20: 200 to 250 lbs,. *12.70® 12.80; 160 to 300 lbs. *12.800 13.10: 130 to 100 ltcs. sl3 ® 13.10; 90 In 130 lbs.. *l3O 13.10; packing sows. SIOO 11.25. Cattle—Receipt n none; ,*alves, 125: market slow and steady; beef steer**.. $10.25* vealers. $15.50® 10. Sheep— Receipts. 1.200: market fairly active about steady; wethers. $7.75: top fat lambs. sl3. Produce Markets CHICAGO. Jan. 7.—Butter—Rrectpts. 5.173; ereamery. 470: standards. 40%o: firsts. 43® 4*l %<•: seconds, 39® 42e. Eggs —Receipts. 5,420; ordinaries. 85®3<e; firsts. 38039 c: seconds. 38c. Cheese *— Twins. 24@25c; Americas. 20%e. I*tmltry Receipts. 4 cars: sow ls, heavy 25 %e. small 20o: springs. 250: ducks heavy 00e, small 20c: ge*’se. 21® 22c: lurks. No.. I. 30c roosters. 18-\ Potatoes —Rc-elpts. arrivals 08 ears*, on track 159 in transit 790 Wisconsin sacked round w hites. $2 .30 0 2.45. mostlv $2.35 0 2.40: Idaho sacked russets. $2.75® 3. mostly $2,800*2.90. Sweet potatoes—sl 0 2.25. CLEVELAND. Jan. 7.—Butler —Extra. 47c in tub lots, standards 10 %c. Eggs— Extras 40e; extra firsts. 12c: firsts 4 1c; ordinary. 35c: pnlet.s, 31 e: refrigerator ex teas 30o: refrigerator firsts. 34c. Poultry—Henvv fowls 31 0 35c: medium 85® 2fie: Leghoj/** 23® 25<>: heavy springers, 310.32**: 4Tghoms, 280 24**: ducats, 32® .35** geese 85@27c; cocks, 17® !Bc% turkey a. 100 42c. Potatoes —_ 160-pound sacks round white Mantes. *5,1..,85: Michigan $4.200 4.25: Minnesota and t' 0,-raisin. ,-raisin. *4O 4.15: Ohio, bushel sa.*ks. $1 050 1.75; 120-pound sacks Idaho Russels selected. $4.50® 4.75; ordinary. *4.25. NEW YORK. Jan. 7.—Flour—Quiet and steady. Pork—Quirt mess s3s.i>o. Lard Firmer: Middle West. slß.Bo® 1*3.90. Su gar—Raw steady: 90 test. 5.180: refined steady: granulated. *0 .35® 0.50 Coffee -- Rio No. 7. 15% @ls%c: Santos No. 4. 10 % @2o** Tallow—Steady: -po.-mls lo extra. 7% @ 7 %e. Hay—Quiet; No. I, $1.30; No. 3, *lO 1.20: clover. *1.0.5® 1.30 Dressed poultry—Steady: turkeys. ,90 0 32c: chickens. 21 **f 17c: capons. 2K*u 50c. fowls. 17 0.35* . . <lu* ks. 240 34.*; Long Island ducks, ,300 34c Live poul-try—-Unsettled: geese. 110.30**: ducks 1h 0 3.5 c: fowls. 30 0 38** turkeys 300 40* : roosters. Is** chicken-*.. 28 0.35 c; * anon--, 38 @ 40c: broilers. tOc. Ghees*—Steady: State milk isunmon to specials. 270 98**; Young Americas, 27®27%* Butter Steady receipts. 7.381 : creamery extras. 50c- iM*rial market. 50% 0 51c. rlggs— Steady; rei-fiipts. 18.84.3: nearby wliie fancy. 49@50e: nearby State white. 43® 4K<: Tresl! firats. 41®4'.V Pacific coasts first to extras. 100*5Oc: western whites. 42 0 -16*- nearby browns. 19® 50c. I'ola,toes —Ismg Island. $3.250 0.25 Jersey, •ba-kets. *1 ® 1,5(1 States. $.3.85® 4.85: Maine $4.5005.00 Bermudas, *0,500 1.. Canada* $4.7.5® 4.90. Sweet potatoes Jersey, baskets. *iOc to $2; Southern, baskets. 000 to SI.BO.

Head of Stock Exchange Speaks on Speculation’ New York Financial Authority Addresses Detroit Gathering at Annual Dinner. ,

Bv Timet Special DETROIT, Mich.. Jan. 7.—Speculation is an inseparable. Integral and Indispensable feature (it all business and trade and to attempt to abolish it would be "Utopian and impossible,” E. H. H. Simmons, president of the New York Stock Exchange, declared in a speech last night at the annual dinner of the Detroit Stock Exchange held here. Simmons spoke on the topic, "Speculation and the Stock Exchange/” and outlined clearly and emphatically the part New York Stocks —Jan. 7 Railroads— Prey, High. Low. 1 00. close. Atchison ...104% 168 104% 102 At Coast L 180% ... 186% 180% B. & O 107% iO7 107% 100% Can Pac.... 105% ... 165% 105 C. A 0 161% 161 161% 161% C & N. W . . 80 79 80 78 % C. R. & P. 72% 71% 75% 71% D® & Hud 174% ... 173% 173% Del & Lack 144% Erie 40% ... 40% 40 Erie Ist pfd 53 . . . 5.3 53 Gt No pfd 81’4 80% 81% 8054 Lehigh V.. 101% 100 101% 100 K C South. 41% ... 41% 41% L. & N. . ... 130 M. K. &T.3* 54 ... 32% 31% Mo Pae pfd 91 90% 91 90% N Y Cen. . 141 1.39% 14054 139% NY NH&H. 42% 41% 41% 42 Nor Pac... 79 78% 79 78% Nor & W.. 158% ... 158% 157% Pere M arq ... ... ... 116 Pennsylvau.. 67% 67 67 Reading ... 95% 94% 95% 95 S Railway 135% 184% 13454 126% So Pacific ... ... ... 108% St. Paul ..... 9 % St. Paul pfd 19% ... 19 54 19 S I* A S W 0.3 ffi% 6.3 61 SLA 8 V 103% 101% 101% 101% Union Pac 101 ... 160% 160% Wabash .. 48% 41% 42% 41% Wabash pfd 774* ... 77% 77% Rubbers— Aia* 9% 9 H 9 9 Jm Flak ..... 17% 17 , 17% 1654 Goodrich .. 48% 46 54 48 40 Gdyr pfd. 100% 100 100% 100 Kelly-Spa:.. . 10 *n 10% 10*n JOty U S Rub.. . 01% 69 i* 0054 60 F.quipmeDts— Am CA Fd 103 ... 101% 102% Am Loco 107% l6f 10*% *915/ Am Stl Fd 40 . . . , 44% Bald Loco 153% J&i.S 163 J* Gen Elec. . 84% 83% 83 5. 83% N Y Airb.. 4054 ... 405* 41 % P steel Car ... ... ... 39 Va Pullman ..iß6ss i84% i8454 185 \ Wsth A B Wsth El .. 69 08 54 09 08% Steels— Beth] .... 47 40 54 47% 40% Colo Fu . . 44 54 •*. 44 44 % Crucible ... 79 ... * 9 * § % Gu St Stl . •■• ~ 64 Ph Rc C A I 44% 43 5* 4454 44% Rep Stl ..67% ... 67 •• . Si-Shes ... ••• 128 5* Wn St 5t1..150% 154% 150% 155 Alloy 28’a ... 28 % 28% Vaua • • • • • • 39 M otors— Am Bos . • • • • • J J Chandler .... .... Chrysler ... 43% 42%. 4 5 % Con M o ... 13 % ... 13% 13% Dodge 28 % Peerless ... 30% ... JOs* -10 H Gabriel ... ...., JQ% Gen Mo ...133% 151 % lu<3% 153% Hudson ... 66 54 65% 60 5* 68% Hupp 23 ... 32 33 Jordan .... 20% ... 20% 21 Mack 92 5* 91 92 92% Mar Par ... •:.*,, bSO * Moon .... 11% .•• 41% 4 4 Nash 73% 71 Zi.’ 4 12 Packard ... 36 % ... *}o a? w Pi Ar .... 22% ... , 21% 3Studeb 60 % 50% 56% o 5 5i Ste-War ... 06 *•• 68 §B% Timken ... 80 % .. . *9 H 80 Wil-Ov ... 22 5* 22 54 23% -2% Wh Mo ... 60 54 ... 56% 66 54 Am ,t sm g ~ 139% 138 54 139% 139% Anaconda . 47J* ... 4' * > Cer Pe P&*. 01k 61 \ 61 * Insnir .... 25 .. • 24 *4 **-o Int Nie ... 40% *tft% 40% 40 Kennec ... 61% ... 81 • 01% Tx G A S.. 50 49*4 60 49% U S Sra .. 35 % 34 5* 35 54 *l6 % Oils— At Ref ...... ... •. It}% Cal Pet .. 31 - ■ 31 31 Freep Tex . 34 5* 34 5* 34% 34 % Houston . . . . •• • •• • J|l% Indpend OU 31 ... , 30 54 ?0 % Mariana Oil 67 58% 57 >O% Mid Con Pet 36*4 36% *lO% Pan-Am Pet .. ... ... 4% P-A Pete B 02% 62 08% 02 Pacific Oil . . . ... . • . ~ 1% Phillips Pet 56 54 68% 00 % 66 % Union Oil.. 65% ... 65% 50% Pure Oil .. 27 % ... 27 % 27 % Royal Dutch ■ . ... ■ • • 63% Shel 89 % ... ‘ 29 % 29 % Sincair . ... 19% ■. . 19% 19% Skelly 34% ... 34 5. 34% S Oil ol Cal 58% ... 58% 58 5* St 011 of NJ 38 % 38 38 % 38 % Texas Cos .57 ... 50% 66 5 4 Trans Pnlc. 4% ... 4% 4 % Industrials— Ad Rumely 11 11 11 11 Ailis ( halm . . ... ... 89 Allied Chm 136 54 135% 130% 130 Armour A. 15% 18 5* 15% 15% Amer Can.. 47 54 47 % 47% 47 Am H ZL. .. 9 % A H A L pf 52% Am Sat Raz 52% 51 * 52% 50% Amer Wool. . . ... ... 32’* Coca Cola .170 100 170 109% Cont Can . 70 5* 09 5-4 69% 71 Certainfeed. . . ... ... 42 % Davis Chra. 29 ... 29 28% Dupont .. 173% 172% 172% 174 F Players .1135s ... 113% 113% Gen Asphalt 86% 85% 80% 80 s*, In Cm Eng 48 5, 45% 451, 46 5* int Paper.. 56 5, ... gfi 55 5, Int Harv ..141% ... 140% 142 May Dp St. . . ... ... 137 % Mont Ward. 68% ... 06 60 5, Natl Lead .107 ... 167 107 Owen Bottle 78 ... 78 78 ’4 Radio 51 % 51 51 % 61 % Rent Tyne .117% ... 117% 117 54 Real Sila .. 45 54 46% 45% 46% Sears Rorb. 5 . . 51 % 52% United Dg 169 168 % 109 J flp USCT P 218% 217 217 818% U S Til Al. . 80 ... 80 78 ji Woolworth. 179% 179 170% 179% ( Hllties— Am TAT 150% 150% 150% 150% A Express ... • .. . 187 % Am 4v Wks 0554 05 05% Krkl.vn Man 08 5, . (IS % 07% Col G A- El 89% 89% 89% 89% Cons Gas. . 1085, 107% 108% 107”, Tnterboro,. ... ... ... 44’, Ao Am Cos. 40 5* 40 40% 40 Peoples G .. . ... ... 127 Phila Cos ... ... 80 9 Gas AEI 55% ... 54% 6„ % Meg Union ... ... ... 146’* Bhlpplng— Am Int Cor 37% ... .17% .17% Am S A C 0 Atlantic 54 .. . ... ... 4i % In M M pfd 37% ... 37% 37% United Vr 118 117% 118 118 Foods— Am Sugar. 82% 82 83 5* 82% Am Bt Sug . . ... ... 25% Austin N. ... ... ... 9% Beech N P ... 67 C’allf Pkg.. ... 69 09 Corn Prods 48 47 4* 18 IT”. Cuba C pfd 49 ..„ 49 48 4, Cuba AS 27 5, Fleischman.. 46% 48% 50% 46% Jewel Tea. 50% 50 56% Nat Biscuit 98% ... 98% 99 l'unta Ale ... ... ... 45% T’ostum 98 97’* 98 97% Wd Bk (B) 31 54 ... 31 54 32 Tobaroos— Am Simla. 44 54 41 44 5, 14 Am Tob . 120 . . 180 181 A Tob fBl 180% ... 120 120% Cons CIS. .. 835, $4 % Gen Cigars ... ... ... 55 Liggett .. 100% 100% 100% 101 I ,nrll lard ..31% ... 31% 32 It J Re>\. 120% 119% 120$, 120 Tob r (Bl 109 108% 109 1 08% P Clg Stor. 98 54 ... 98 98 % Schulte R S . . . ... ... 48% Local Wagon Wheat Local grain elevators are paying $1.25 for No. 8 red wheat Other grades are purchased on their merits Bl RROVGHS DECLARE f!n I nited Frees DETROIT. Jau. 7.—Directors of the Burrougs Adding Machine Company today o< -hired a 33 1-3 per cent stock dividend payable March 1. to dock of record Feb. 15. i.Of”) MSB PllO CONTEST - / / tiilrd Press CHICAGO, .fan. 7.—Cleveland Kosenbloom’s basketball team dofeuted iho Cliicago Bruins. 26-16. b*: fore 2,000 fans, in a professional game here Thursday.

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which speculation plays In business and drew a sharp distinction b\ tween speculation and gambling. “tt is not,” he asserted, “what a man intends to do, but what he actually does. Speculation consist* In buying or selling property with a purpose of making a profit between the purchase anil selling price, and meanwhile accepting the Inevitable risks which attend such tut operation. Gambling, on (he other hand, consists In wagering stuns of money on some futuro fortuitous event, without any necessary relation to tlie acquisition or disposal of property. Tills Is the essential distinction between speculation and gatnUing, which has in most cases been Tillered to In (lie law, and It is perfectly sound from an economic standpoint. "Superficially, of course, gambling and speculation seem very much alike. Both processes Involve the assumption of risks in the hope of making profits. But the risks assumed in speculation are the inherent risks attending the ownership of property. On the other hand, the risks of gambling are utgiccessary and artificial risks, which are created simply for the purpose of deciding wagers of money.” Risks anti Uncerfainiles Referring to these risks of oY7ncrship of property, Simmons remarked that is is peculiar that “although practically every one realizes the importance of this element of risk and uncertainty in the practical conduct of affairs, so few peoplo appreciate its necessary relationship to the constantly changing values of security prices on the stock exchanges.” The risks and uncertainties in modern manufacture, he added in this connection must be imparted to the securities of manufacturing companies and securities qf modern business must fluctuate in value so long as modern business itself fluctuates. Speculation in securities, he doelared with emphasis, is "simply an effect, not a cause, of the speculative tides which constant, ly sweep through our whole business world.” mmm TRADE SLUGGISH THROUGHOUT DAY Individual, Not General, Factors Bring Issue Response. By E. Walter Moekler. NEW YORK, Jan. 7.—Stocks were again inclined to be sluggish Thursday, although here and there a particular issue would stand out. strongly or would show pronounced weakness. These issues, however, wire responding to factors bearing on the Individual company alone and having little effect upon the general market. For some time it has been fashionable to refer to the high money market as a contributing cause to the market’s dullness or tendency to ease under offerings. The morn Intelligent viewpoint offered was based on ilie belief that the market’s stagnancy was based almost entirely I upon ill** inclination of the trading and investing public to wail for a definite sign as to 1927 industrial and business conditions before making extensive commitments in the stock market. This Is apparentlv the proper view as tlie money rate melted away without bringing in nnv new demand worthy of consideration. 4Vi ( all Money Call funds broke through the 0 per cent rate and declined rapidly, .heavy accumulation of funds here forcing the rate down t& 4% per cent on which basis the market closed. The abundance of funds was further evidenced in the bond markets which moved higher steadily. If any further proof of the tremendous reserve of Investment funds which are seeking an outlet, were desired it is offered in Thursday’s sale of New York City bonds. These were sold to the high bidder which happened to lie tlie national city syndicate, on an offering of $60.000,000 of 4% per cent serial bonds, the premium paid amounted to $1,589,340. The syndicate must turn over the bonds on a margin of about % of a point. Largest Premium Tim issue is being reoffered to Investors immediately at 103% and interst at which price the syndicate profits will approximate about, one third the amount of the premium Viald. Tills was the largest premium in the last decade. Despite the extremely small yield to investors, sonic $45,000,000, or about 75 per rent of the issue, had been sold between the awarding of the issue to th syndicate and the rinsing of the market today, and thorn is little doubt lmt that tile I>hlance will sell almost automatically. This is further amplification of the fact, tliat funds seeking tax empl bonds form an almost Insatiable demand, and explains the efforts bond houses are making to secure new Issues, no matter liorv narrow the magin of profit. For the next few weeks the question and hope of. higher or extra dividends will go a long way toward snaping market sentitment. Allied Chemical.‘flock Island. Nash. United States Realty and others have meetings In the near future with the dividend rate on steel common still to l*s settled. Nash is expected to meet next week and a I’i per rent extra is hoped for: United States Realty meets next week also but while reports of a pending increase in the dividend rate have been hoard, It is not expected that this question will even come up at the meeting but will be put off until February. v - ' r-mmi ■- **‘ W T* ■