Indianapolis Times, Volume 38, Number 244, Indianapolis, Marion County, 17 January 1927 — Page 11

JAM. 17, 1927

HOGS, CALVES ADVANCE; ALL RUNS SMALL

•MONEY SITUATION ENCOURAGED BY DEFICIT RECOVERY Stocks Display Good Tone— Rails Still in Demand. Average Stock Prices* Averano of twenty industrials Saturday was 454.09. up .OS. Average of twenty rails, 131.33, up .70. Average of forty bonds, 00.54, up .03. ] Hit United Press NEW YORK, Jan. 17. —Saturday’s clearing house statement reflected a rapid recovery from the deficit incident to year-end financial requirements. An increase of $81,225,000 in surplus reserve was reported, converting the previous week’s adverse bdlance into a credit of $12,210,000. This speedy correction furnished additional encouragement regarding the money situation, and the main body of stocks displayed a good tone in early dealings. Active demand* continued for the k’-ails, which were the best acting |group. Oil shares also displayed strength under the leadership of Phillips Petroleum, which reached new high ground on the movement at 08%, responding to the "Expectation of an early increase in the $3 dividend. • Although the downward trend of the industrial leaders was checked in the late morning, trading in the general list continued extremely erratic. In view of this irregular condition, active demand for rail shares with merger prospects was particularly conspicuous. Issues mentioned in connection with the proposed Loree consolidation showed marked strength. Lehigh Valley held its extraordinary gain of last week in good style, while Wheeling & Lake Erie preferred mounted to anew high at Cl*4, up 314; “Wheeling common at 33, up 3%, and Western Maryland at 1814 1 up %. - MERGER APPEARS DELAYED Wall Street Believes Rail Combine Impossible for Ten Years. Bn United Press NEW YORK, Jan. 17.—Wa(l Street today was inclined to believe that the proposed merger of the Great Northern, Northern Pacific and possibly other western railroads into a one great railway system may yet be two or three yearb away. Financial experts pointed out that the plan was first brought up six toears ago and since that time a comPnittee representing interested railways has been engaged in merger plans. One plan after another lias been tentatively worked out only to be thrown over. Officials of the railroads admitted that a campaign of education among stockholders might be necessary before submitting to them the final merger plan and the approval of the interstate commerce commission also would require some time to obtain. It was considered most likely that the plan would involve formation of anew holding company, and shares of the Great Northern and the Northern Pacific Exchanged for its stock on a sjiare for share basis. Those two roads are of practically the same capitalization and their stocks sell at practically the same price on the market. As the Great Northern and Northern Pacific hold equal stock interests in the Chicago Burlington & Quincy and control it, “Wall Street assumed any merger would carry that road with It.

Banks and Exchange

—Jan. 17— „ INDIANAPOLIS STATEMENT bank clearings were $4,570,000: ifeita. #7.677.000. NEW YORK STATEMENT _ NEW YORK. Jan. 17.—Clearing?. $<06,000,000; balances, $128,000,000. FOREIGN EXCHANGE - RBi/ United Press r NEW YORK. Jan. 17.—Foreign exchangre opened irregular. Demand sterhn&, $4.84 15-16, up .00 l-16c: lrancs, 3.97%e up .o°%c- lire, 4.39 c. off .00c; belga, 13.88%c. off ,00%c; marks. 23.73 c. In the Sugar Market | Thomson & McKinnon) NEW 5 011 K. Jan. 17.—The recent decline in raw bugar has interested foreign buyers, week-end reports indicated. If actual business was done, it should be disclosed today. I think the futures market is very near a turn and that purchases at current levels are advisable. In l'ie Cotton Market (By Thomson & McKinnon* NEW YORK. Jan. 17.—1 think the market is about to change its character completely. We are passing; out of the raoxe that might bo likened to a bond market into a field of activity where price changes will be fast. New buyers are coming in rapidly. Confidence is restored. It is going to be a big market. POLICE HUSBAND Care for Mother, Thr#c Children Sus-; sering From Cold. Police today visited a house at 1204 W. Market St., to find Mrs. Zaza Parker seriously ill, and her three children, Victor, 7; Lola Dean, 4, and Joe, 2, suffering from lack of •'food and warmth. The woman was taken to the city hospital and the children to the Detention Home. Mrs. Parker told police her husband, Ralph, had divorced her in )k!ahoma City and later asked her ,o remarry him, sending her money to come-here. Police charged him with child neglect, when she said her husband refused to work. Albert, Canada, University students raised a fund of $20,000 themselves to build a skating and hockey rink on the campus.

New York Stocks (By Thomson & McKinnon;

Railroads— / Prev. High. Low. 1:00 close. Atchison ..107 ... tOO % 100 % At Cos Li. . IHf* % INK 1 Si* % 187% I K & O . . .100% 10!* 100 108 3 * Can Pac ..108’, ... 168% 108% C&O 150 % ... 159% 150% O& N W.. 83% ... 82% 82% C R & P.. 74% 74 74% 74% Ihe & H . .178 ... 177 177% I Del & L . .14*1 . . . 144 144 Erie 40% ... 40% 40% I Erie fi pfd. 50% ... 50% 53% fit No pfd. 87% 87% 87% 87% Leh Val ..121% 118% 331 120 KaCSo... 43% ... 43% 43% L & N 130% ... 130% ... M K & T. . 34% 34 34 34% Jli P pfd .. 02% ... 03% 03% N Y Cen.. 142 % 141% I*2 142% N YNH&H. 43% 43 43% 43% No Pae ... 84 % 84 % 84 % 84 % Nor &W. . .100% 100% 100% 100% Pere Mar . .118% 110 118% 115 Venn 57% , 57% 57% 57% Rehdina ... !7% ... 07% 00% Sou RiJ ...124% 134 124% 124% Sou Pac . .109% ... 100% 100% St Paul ... 10% ... 10% 11 St P pfd.. 20% ... 20’• "0% St L & S W 04 ... 04 ' 64 % St LA S P. 105 ... 104% 104% Jbl Pac . .103% 163 103 102% vV abash ... 44 r> * ... 44 44 Wab pfd .. 70 Vj ... 79 ?s 791; K libbers— Ajax 0 7 - 9 s ; 97' Fisk ..... 10% ... 16% ’i % Goodrich .. 47 40% 46% 40% ’ *nv pfd . . . i i' n e S, W f< ? ’ ’ rns •- * . i°% lrfaf U S Rub. .59 % 50 % 59 % 59 % Equipments— AC & F... 101 ... 101 101 Ain Lo ...107% 107% 17 Am St! F.. 45% 45 45% 4 L ,k Raid Lo ..150’/.. ... 148“ 150% fien El ... 84% 84 84% 84 L.ma.... 8 ..03% ... ~% Pr Stl C . •” IE Pullman .. .180 % 184% 185% 184% West A R 136 . . 130 137% West Elec. 09% ... 78% 69% Steels— Brtlilehem. . 47% ... 47 47% [ Colorado F 1 44 % ... 44 % 44 % Crucible ./79 % ... 78 % 79 Gulf S Stl . . . 58 % PRC & I 43% ... 43% 43% Rep Steel. 63% 63 02 62 % Sloss-Sheff ... ... ... 129 ll s Steel.. 157% 156% 150% 157% onion Al.. 28 ... 28 ... Vanadium. ... ... ... 38% Motors— Am Bosch. 10% ... 10% 10% Chandler .. 23 ... 23 23% Chrysler ..41 ... 40% 40% Conti Mot.. 12% 12% 12% ... Dodge 25% 24% 24% 25% Peerless ... 28 % ... 28 % 28 % Gabriel ... 30% ... 30 % ~ . Gen Motors 150% 147% 148-1, 150% Hudson ... 52% 50% 50% 52 Hupp 22 ... 21 22 Jordan 20 % 19 % 19 % ... Mack 93% ... 92% 93% Moon 11% 11% It’S, ’ . . . Nash 67 % ... 07 00 % Packard ... 35% ... 34% ... Pierce- At... 10% 19% 19% 19% Studebaker. 54% ... 53% 54 Stewart W.. 05% ... 04% 05 Timken ... 82 80% 80% 80 % Wtllys-0v... 21% 21 % 21% 21% White Mot;\ 6 j % 55 % 55 % 55% Mining— Am Smelt 138% 138 138% 138 Anaconda.. 48% 48 48 48% Cerro De P 01 % ... 61% ... Inspiration.. 25 .... 25 24% In Nickel.. 41% ... * 40% 41 Kenneeott.., 03 61% 02 01% Tex G A S 61 % ... 51 % 51 % U S Smelt. 34% 34% 34% 34 Oils— Cal Petrol. 32% 32% 32% 32% Freport T. . 38% 38 38 38% Houston ..64 ... 04 04'% lndpond Oil 32% 31% 31% ... Marlnnd Oil 58% 57% 58 58 Mill Con Pet 38% 38 38% 38 P-A Pete B 03% 62% 03% 3 Phillips Pet 58% 57% 67% 58% Onion Oil.. 55% .... 55% 55% Pure Oil .. 29% ... 29% 29% Royal Dutch 51% ... 51% 62% Shell 29% ... 20% 20% Sinclair ... 20% 20% 20% 20% Skelly .... 36 ... 30 30 % S Oil of Cal 50% ... 50% 59% S Oil of N J 30% ... 39 % 39% Texas Cos.. 68 57% 57% 57% Trans Pet.. 4% 4% 4% 4% Industrials— *■ Ad Rtimely. .. ... ... 10% Allis Cha.'ra 00 ... 00 90 Allied Chm 136 ... 134% 135% Armour A. 15% 15 15% ... Amer Can.. 47% 40% 40% 47Vi Ainer Wool. 29% ... 29 20 A H & I, pf 51 ... 51 52% Am Saf Kan 54 % .... 54 % ... Cent Death. .. ... ... 0% Cfr-a Cola. . .. ... ... 170% Cont Can.. 71% ... 71% 71% Davis Chm. 30% 30'% 30% 29% Dupont .. 174 172 172% 174% F Players .112% 111 112% 111", fien Asphalt 85 % 83% 83 % 84% In Cm Eng 4(1% 46 40% Int Paper.. .. ... 57% lot Harv ..137% ... 137’% 338 May Dp St. ..£ os % Mont Ward. 00i ... 63% 06 Owen Bottle . . ... ... 77' i Radio .... 51% ... 50 % 51% Rem Type .121% 120 120 % 121 Real Silk ..41% 40% 41 41 % Sears Rocb. 51 IS ... 51 51%

Commission Row

PRICES TO RETAILERS FRUITS „ Apples—Fancy Grimes Golden, bbl. $4,7.); Jonathans, bbl.. $4.75: Delicious 40-lb.. $2: Northern Spys. #1.63. Bananas. 7c lb. Cranberries—Jersey Howes. % bbl. $4.50 ft* 5. Coconuts —Fancy Jarnaicas sack of 100 #5 @5.50. Dates —Built. 10@l]c lb.; Fards 12 lbs.. $2.40; Dromedary. $6.10; unpitted. [email protected]. Ftf-i —Smyrna, [email protected]: California $1'[email protected]: strings. X2c: rings. 14c: stewing. 14c; Sweetheart. $0 case. Grapes—Fancy Emperor sawdust fce-p ’50.60: California Almira. $0.50 a keg. Grapefruit—Extra fancy $3.50 @4.60' fancy. $3.75. Honey—24-case crate. 54.60@0. Kumquats—Florida. 15@20c qt. Lemons—California. $5, Oranges Florida.s3.so<ti4.so: California navels. $3.35@0. Pears—Oregon D’AnJons. $6 60 box. Pineapples—Cubag crate. $5 05.50. Tangerine—Florida. $2.25@3i50. Strawberries—Florida. 85c qt. SEA FOODS Oysters—Gal.. [email protected]. VEGETABLES Artichokes—California. 81.25 dozen. Beans —Florida green, per hamper 3.5004. Brussels Sprouts—Fancy California, 25e lb. Cabbage—Holland seed 2%e lb.: red cabbage. 5c lb.: Texas. 5c lb. Cauliflower—Crate. $3. Celery—Michigan, squares. $2: Miehigan Jumbo, washed $1 dozen; California $6.00. Celery Cabbage—Box. $3. Cucumbers—Florida. 82 dozen. Eggplant—Florida. $2.50 per doz. , Garlic —California. 12 %c lb. Kale—Virginia Brt/coli. $2 bbl: H. G. 75c bu. , Lettuce—lceberg, ot.. $4; IT G.. hothouse. $3.40. 15-ib. basket; California. $3 crate. Mangoes—Florida peppers 86.50 crate $1.75 peck. Mushrooms—Pennsylvania. $1.75 for 3 lb. basket Onions—H. G. yellow. !00 lbs.. #3; H G. red. 82.50: Spanish, ort.. $2. Oyster Plant—H. G.. 45e dozen. Parsley—H G. 60e per bunch: south’rn, 90c bu Peas —$6.5007 a hamper. Potatoes—Michigan round white, sack. *4.50: Minnesota early Ohtos 12(Mb bag $4.25: Idaho russets. 53.75 ewt.: Idaho bakers. $4: Texas triumphs. $4.50. Radishes—Southern long reds. 30@35c: hothouse buttons. $1,15 Rhubarb—California. $2. 20-lb. box: H. 0.. 81.15. Root Vegetables Turnips, bu a $1; parsnips bu.. 81.50: carrots bu.. $1.60: new Texas, bu.. $2; Canadian rutabagas. $2 ewt:: H. G. beets, $1.60 bu.: Texas beets, $2.50 bu. Shallots—Louisiana 66c dozen. Spinach—Texas, $1.40 bu.. Squash—H. G. Hubbard, bbl.. $3. Sweet Potatoes—lndiana Jersey, bu.. $1175: mediums $2; Nancy Halls. $1 750 Tomatoes—Six-basket crt.. $6 50 0 8.50 | Local Wagon Wheat Local grain elevators are paying 81.26 tor No. 3 red wheafig Other grades are ourchased on their merits Peppjrmint Oil NEW YORK. Jan. 17.—Peppermint oil— Natural $4.6004.76: U. S. P„ $5,250 5.00 Markets Butter (wholesale price)—Creamery best grade, a pound. 51 @ 53c. Butterfat—Local dealers pay. 50 0 51c a pound. Eggs—Strictly Iresh delivered at Indianapolis. 340 30c. Poultry—Hens, 22 0 23c: Leghorns. 16 @18c; ducks. 17022 c.

United Dre 107% ... 307% 160% USC I P 219% ... 21*% 220 U S In AL. 81% 78 81 78% Woolworth ... ... ... 1<9% Utilities— Am TA T 133 Vs ... 153% 133% A Express ... ... ... 130% Am W Wk.. 03 Vi ... 65% 05% Col G& El 96% ••• 9091% Cons Gas ..100 103 105% 100% Interboro ... .. . 4. No Am Cos.. 46% 4040% 40 Peonies G ... ... 128., Pliila Cos.. ... ... .. . 80 Vi S Gas &El 34% ... 54% B. Wes Unio ... ... ... 144 % Shipping— Am Int Cor 40 39 Vi 40 39 Vi Am S& C , .* . , 0 Atlantic G 46% 46 V* *O% 4t}% In M M pfd 38 Vi 38 38% .38% United Frt ... ... ... 116% Foods— Am Sugar. 82% ... 82% 81% Am Bt Sug ..... ••• ’—Jo, Austin H. . 8% ... B';t -8% Beech N P 57 % Calif Pkg.. . .. ... ... 08% Corn Prods 4, % ... 47Va 47% Cuba C pfd 48% Fleigehmat?.. 47% “47% “47% 4?g ,n A,e : idt% idi i6i% 101% Wd Bk (B) 31 Vi ... 31 Vi 30% Tobaeeos— Am Sums. .40., ... .40 46 , Am Tob... 121% ... 1211, 321 s , A Tob (B* 121% ... 121% 121% Cons Cigars 81% ... 81 Liggett*.'.’.' 101*2 i6s% Aii'l’t liio% J.orillard .. 31 Vi ... 31 % 31 Vi ll J Rey. 123 Vi 123 123. 123 Tob P (B) 110 109’,i 109% 110 U Cig Stor 97 Schulte RS 48%. ... 48 49 WHEAT UNEVEN AT PIT OPENING Corn Starts Day Higher— Oats Unchanged. Bn United Press CHICAGO, Jan. 17;—Wheat opened %c lower to He higher on the Chicago Board of Trade today. Local traders are looking for a moderate decrease in the visible supply report today. Corn opened Hv to %c higher, Chicago has large stocks of corn and the trade in futures is limited, mostly of local character, but there is a lack of pressure, prices are low and the country is not selling. Oats opened unchanged from Saturday's close. Trading in this grain continues in a rut and lacks any incentive to bolster prices. Chicago receipts are increasing and the cash basis is weakening. Provisions opened higher. Chicago Grain Table —Jan. 17— WHEAT— Prev. High. Low. 11:00. close. May 1.40 1.39% 1.39% 1.39 July 1.30% 1.30% 1.30% 1.30% Sept 1.27% 1.27% 1.27% CORN— May 82% .81% .82 .81% July 85% .84 % .85 .84% Sept 87% .80’4 .87 .86% OATS— May .40 .48% .48% .48% July 47% .47% .47 % , .47% May 1.03% 1.02% 1.03 1.02% July 99% .09 % .09% .08% B, Y A Rb-“' - 07 * 97 '° 7 Jan 17.45 12.37 12.43 12.30 Mar 12.62 12.62 12.50 Mi Wfß2 1386 13 77 13 Y 12-70 May 10.30 15.30 15.00 CHICAGO Jan. 17.—Primary receipts: Wheat. 1.130.000. against X. 208.000; corn. 1.148.000 against 1,913.000; oats 014000. against 802.000. Shipments: Wheat. 1127.000, against 503,000: corn. 321.000. against 442,000; cats. 315.000. against 4i i ,000.

STATE BANK CLOSED North Liberty Institution Fails Because of Farm Condition. _ Unprofitable agricultural conditions were blamed for the closing of the North Liberty State Bank, North Liberty, Ind., by State Bank Examiner Luther Symonds. Deputy Examiners Morris Stultz and R. F Huber were sent to take charge The bank has a capitalization of $50,000 and was a member of the Federal reserve system. DRYS SEEKING SUPPORT Racking of City Council to Be Asked by Dorsett. City council opposition to forces seeking changes in the Wright "bone dry” law will be asked tonight by Councilman Walter Dorsett. Dorsett plans to propose a resolution setting out that "the law is good and sound and sponsored by the taxpayers,” aand that "any amendment to same would be a retreat toward the old corner saloon.” BASKETBALL TEAM IN WRECK Bn Times Special ANDERSON, Ind., Jan. 17.—Elwood High School baskeball team and a number of students had a narrow escape from serious injury Saturday night when a sius, which was returning from a game at Anderson was strutfc by an outo. The auto was wrecked and the bus disabled. SPEED LAW UPHELD Bn United Press '■ WASHINGTON, Jan. 17.—Oregon’s State law forbidding drivers of vehicles to go "at a rate that will endanger the property of another or the life or limb of any person,” was upheld bv the United States Supreme Court todfty. An eastern designer annually makes more than 100 different cuts or patterns, each an eighth of an inch square, for conductor’s punches.

Want to Sell Your Car? FORD coupe, 1923: first-class’ condilion: for quick sale, Irvington 0281. W. S. Smith, 6030 Dewey St., ran this two line automobile for sale ad, three days in The Times. He sold the car; four people answered the ad. The ad cost Mr. Smith only 81 cents for the three days. If you have a car for sale order a want ad in The Times. Call Main 3500 Better Renuits, Quicker lie suits, Cheaper Results

THE INDIANAPOLIS TIMES

Beef Steady—Not Enough Sheep to Make a Market. —Hok I’nre Range— Jan bulk Top. Receipts. 10. 12.10 ill 2.25 12.20 7 000 11. 13.350 12.60 12.50 7 500 12.. 12.30ft* 12.40 12.30 7.000 13. 12.004* 12.25 12.25 (1000 14. 10. 12.104*12.60 12.50 4 000 17. 12.25 4: 12.05 12.05 4,300 With receipts small in all divisions of fne local livestock market today, hog pri&s at the Indianapolis Union Stockyards made an advance. In general the increase was 10 to 15 cents on the hundredweight, but on some sorts of material it was little more than steady to strong. The week started with a run of 4,500 porkers and 251 holdovers. Most sales were within the limits of $12.35 and $12.65, with the higher figure forming the new top price. Hog I’rice Range According to the weight classification posted today the quotations on hogs were: 140-200 pounds. $12.50 @12.65; 200-230 pounds, $12.35@ 12.50; 250 pounds up, [email protected]. Packing sows were quoted at 110.25 @31.25, an increase of 25 cents over Saturday's rate. Five hundred cattle arrived today, the market little changed. Beef steers sold at [email protected]; beef cows, [email protected]; low cutters and cutter cows, [email protected]; bulk stock and feeder steers, $6.50@8. Regain Loss Th(\calf market today regained its drop Saturday by selling 50 cents higher. Best vealers again sold at $15.50, with other grades going at this mark and down. Three hundred head constituted the fresh run. The receipts in the sheep and lamb division were again too small to make a market, only 100 ovines reaching the stockyards this morning. Prices were quotably steady, as follows. Top fat lambs, $12.50, bulk fat lambs, sll@ 12.59; bulk cull lambs, s6@9; ewes, $6 down; bucks, $2 @4. —Hoes— Receipts. 4.000: market, steady. 120-250 lbs 812.25 ft! 12.65 250 lbs. up 11.75 @12.25 —tattle— Rceeipts. 500; market steady. Beef steers s7.oofti 10.50 Bulk stock and feeder steers. o.softi 8.00 Beef cuws . ..* 5.00 0 0.75 Low cutters and cutter cowe 3 50ft* 4.75 —t'alves— Rceeipts. 300; market higher. Best vealers sls.ooft* 15.50 Heavy calves 0.500 9.00 —SheepReceipts. 100: market nominal. Ton fat lambs $12.50 Bulk fat lambs 11.00® 12.50 Bulk cull lambs O.OOft* 9.00 Ewes 0.00 down Bucks 2.004* 4.00 Other Livestock LOUISVILLE. Ja*i. 17.—Iloes— Receipts. 2.800: market steady: tops. $12.23. Cattle—Receipts, 1.4(H): market steady. Calves—-Receipts. 500; market steady: good to choice. sl2 ft/ 13.50: medium to good, $9 <L* 11: outs. s.l down. Sheep Receipts. 50: market steady: top lamb*. $10.50@11; seconds. s7ft/.7.50; sheet.. $3 @ 5.50. OPPOSES KELLOGG PLAN Peru Replies to Proposal for Sale of • Tacona-Arica. Bn United Press. WASHINGTON, Jan. 17.—Peru's reply to Secretary of State Kellogg s proposal for the sale of the disputed Taena-Arica provinces to Bolivia was delivereed to the Department here today by Peruvian Ambassador Velarde. The United Press learned the note was subßtantiallly a rejection bf the proposal, thought it may not close the door to further negotiations. MORE GOODYEAR TROUBLE Bn United Press AKRON, Ohio, Jan. 17.—Internal affairs of the Goodyear Tire and Rubber Company were plunged deeper into litigation today when the company filed suit for $2,093,729 against Frank A. Seiberling, its former -president. The suit .was the ninth suit of the current legal tangle. TAX ASSESSORS’ RULING Tax assessors must be free-holders in the county where they hold office for a 'four-year period before they are chosen and their bonds must be approved by the auditor within ten days after election, according to an opinion handed down by Attorney General Arthur L. Gilllom, upon request of Chairman John J. Brown of the State tax board.

Held by Immigration Red Tape

* * ■-• • < 4 ,’• ' -

The red tape of the immigration law has entangled Mrs. 11. M. O’Hara as its latest victim. Mrs. O'Hara lived in Leningrad, Russia until site married an Omaha man, then in Russia on business. , On Ills return to this country, she was allowed to enter on a visitor’s permit; now she is moving to Canda to avoid deportation back.to ■ sia. Site will seek re-entry to : I nit rod States as soon as possible.

Indianapolis Stocks

—Jan. 17— ' —Stock*— Bid Aik Amer Central Life 375 Amer Creoaotlng Cos pfd .. 101 Ad itumely Cos com 10% 11 Ad Itumely Cos pfd ........ 33 35 Beit it It com 05 08 Belt It R ptd 55 00 Cent ind Powder Cos Dfd .. 87 92 Cities Services Cos com 51 % •- - Cities Service Cos p.’d 91% ... Citizens Gas Cos com 49% 51 Citizens Gas Cos pfd 106 ... Commonwealth Loan Cos pfd 98% ... Equitable Seeurities Cos com 51 ... Hook Drug Cos com 28% ... Indiana Hotel com 120 Indiana Hotel pfd 100 ... Indiana Pipe Line Cos 01 ... Indianapolis Gas 50% 00 lndpls A Northwestern pfd .. ... Indianapolis St Ry 36% 33 Interstate P Ser pr lien pfd 90% ... Merchants Pub Ctil Cos pfd. 100 ... Progress Laundry com .... 22 % ... Pub Sav ins Cos 10 ... Kauli Fertilizer pfd 48% ... kKeal Silk llosi/ry pfd....\. .. 100 sßtandard Oil Cos Ind 71 ... Sterling Fire ins Cos 16 ... THIiK com 3 7 T H I & E pfd 24 27 X H T A L Cos pfd 80 ... Union Trac of bid com 1 Union Trac of ind Ist pfd ... 10 Union Trac of Ind 2nd Did. . .. Union Title Cos com 88 Van Camp Pack Cos pfd ... 16 ... Van Camp Prod Ist pfd . . 90 90 Van Ciirnp Prod 2nd 05 Wabash Ry Cos coni 44 % ... Wabash Ily Cos pfd 79 % ... —Bank Stocks— Aetna Trust and Sav C 0.... 115 ... 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. .260 Indiana National Bunk. .. .209 % 271 Indiana Trust Cos 230 250 Livestock Ex Bank 102 ... Marion County Bank 175 ... Men hunts Nat Hank 325 ... Peoples State Bank 185 ... Security Trust Cos 250 ... State Savings and Trust 96 Union Trust Company 403 430 Wash Bank and Trust C0...158 ... —Bonds— Belt R R and Stockyards 4s 90 ... Broad ltipple 5s .9% ... Central Indiana Gas 55.... 98 ... Cit Ind Power Cos 05.... 99 ... Cent Ind Power Cos 7s 99% Citizens Gas Cos ss. 101 101% Citizens St K R 5s 85 80% Hume T anil T of W 05.... 103 ... Indiana Coke and Gas 05..102% ... Indiana Hotel 5s 98 ... India! a Northern 5s 2 ... Ind Ry and Lt 5s 95 ... Ind Service Corp 5s 92% ... bid Union Trac 5s 4 ... lndpls Cos! and So Os 99 102 lndpls Gas Cos 5s 99% 102 lndpls Lt and Hi 5s 101% ... lndpls A Martinsville ss. ... 00 ... lndpls Nortliesrii 5s 23% 24% lndpls A Northwestern 55... 00 .r*. lndpls & S. E. 5s 2 ... lndpls Shelby & S E 5a.... 2 ... lndpls St Ry 4s 04 06 % lndpls Trac and Term 55... 94% 96 lndpls Union Ry 5s 401 ... lndpls Water Wks Sec Cos.. 100 ... lndpls Water 5%s 103% 164% lndpls Water 4’iS 94 95 Interstate Public Serv Os.. 102 ... Interstate Pub S Ba 6%5..104 ... T H I & E 5s 77 T H T & Lt 5s 93 .. Union Trac of bid Os 20 21 —Liberty Bonds—--Ist 3%s 101.24 101.34 Ist 4% a 102.20 20-30 2d 4% s 100.70 100.80 3d 4% s 101.30 101.40 4th 4%s 103.62 103.70 U S Tr 4% 8 110.40 110.50 U. S. Tr 4s 106.50 100.00 U 8 Tr 4% s 103.50 103.08 —Sales— Ten shares Van Cap Prod. Ist pld.. 91 Twenty shares Ind National Bank . . 209 % FIGURE INDICATES INDUSTRIAL DROP Use of Electricity Implies Lower Production. Bn Times fiperial NEW YORK. Jan. 17.—General industrial activity in the United States in December was 2.6 per cent under that of November and slightly lower than in the corresponding month a year ago, reports an electrical journal. The decline reflects lessened activity in the automobile and lumber industries. Operations in the metal, leather, textiles and stone, clay and glass industries were liiglfer in December than in the preceding month. The rate of activity is based on the monthly electrical energy consumption in manufacturing plants, scattered throughout | the country, consuming more than eight billion kilowatt-h6urs annually. The metal industries group in December operated at a slightly higher rate than in November, as did also the textile plants. Operations in the leather industry, which includes leather products, increased 6 per cent in December, the rate of activity being the highest since October, 1925, and about 26 per cent above December, 1925. In December the automotive industry operated at 7 per cent under the November rate, and the lumber industry registered a drop of approximately 20 per cent. ADMINISTRATION AIDS TAX BILL Wider Powers for State Board Provided. A bill providing for broader powers for the State tax board and permitting them to make local appraisals, to be introduced in the Indiana House soon, is expectgd to have administration support. Floor Leader Lemuel A Pittenger conferred with tax body members today regarding the measure. 'The Governor referred to the bill favorable in the annual address. Senator C. Oliver Holmes, Gary, will introduce a bill robbing justices of the peace of the power to commit persons to insane hospitals, delegating it to circuit courts. Holmes contends the power is abused. Merits of a bill providing for licensing of insurance agents were argued today before the Senate committee. FARE CASE TRANSFERRED Bit United Press WASHINGTON, Jan. 7.—Denver's fight to require a 5-cent fare to be charge by the Denver Tramway Company was transferred from the United States Supreme Court to the Circuit Court of Appeals today. PASSES INDIANA BRIDGE BILL Bn United Press WASHINGTON, Jan. 17.—A bill authorizing the Indiana Bridge Company to construct a bridge across, the Ohio river at Evansville, Ind., was passed today by the House. WINS $511,000 TAX CASE Bn I nited press \ WASHINGTON. Jan. 17.—The State of Minnesota won a $511,000 tax case from the Great Northern Railway Company in United States Supreme Court today.

RAILROAD STOCKS lAIN ATTRACTION ON WALL STREET Development of Mergers Watched Carefully by j Exchange. _By E. Waller Mocliler. NEW YORK, Jan. 17.—Despite the continued sluggishness >f the general market the past week developed two of the most important factors in the railway world since the era of mergers began. The first of these concerned the sudden galvonizing into life of the long-planned Great Northern-Northern Pacific merger, while t“i .second wyts the outgrowth of a slurp apprecatlon in Lehigh Valley common, which seems almost certain to indicate an important development in merger plans of the eastern railroads. > For nearly seven years the officials of the Northern Pacific and the Great Northern have been working out merger plans. Inasmuch as these roads control the Colorado Southern and the Chicago. Burlington & Quincy, it is an obvious conclusion that any merger plans of the parent companies must of necessity include the controlled lines. It is apparent that the immediate plan of the Hill roads in the Northwest will head toward a leasing plan, rather than an outright merger, although retaining all merger rights for future action. r New York Central* The deal will parallel the recent activity of the New York Central in tlie East. The latter desired to merge outright with the Big Four nn<l the Michigan Central, possessing practically all of the stock in these roads. Lehigh Valley crossed 120 before the end of the week with buying very apparently coming from banking interests which have long been desireous of obtaining additional Lehigh. For years this situation, as understood in the Street, has been rather anomalous. Bankers representing the Delaware & Hudson have been credited with control or ownership of some 25 per cent of Lehigh’s stock with approximately the same amount lieing held by the XewTork Central’s bankers. The banking groups concerned as well as the railroads mentioned are natural competitors in the financial and railway worM. Battle Ground It was otfvious that In time Lehigh would be the battleground for a bitter fight for control with the opponents matching buying orders. It is not expected that the Street will see another Northern Pacific market, but some very very wise traders who have been staying with Lehigh for two years are spending considerate time right now saying ‘‘l told you so” from an advantageous position down around 80. It Is extremely likely that the rail list will meet some very important news before January has expired, this news coming from throe different sources, all of vffel interest to the country as a whole. Concerns Congress Such mergers require new legislation by Congress, however, and it is becoming increasingly evident to business in general that any negotiations leaning on Congress for help are courting a long delay. Under the lease terms in the northeastern situation, the Burlington and the Colorado Southern will remain in the same comparative position as they now hold to the major carriers, no matter what the technical standing of the four roads happepn to be. It is generally believed that the new Nickel Plate plan will be ready for submission to the Interstate Commerce Commission before the end of the currernt month, but it would be a relief to,the rail list in the market if the Hill lroad merger plans could "take the play away from the Nickel Plate.” The latter has been absorbing entirely too much public attention and the lack of successs which has attended the plans already submitted has reacted to the disadvantage of the whole rail market. Relapse Possible It has been asserted In responsible quarters that any further sharp setback to the Nickel Plate plan would throw the entire merger situation 'back very many years;%ertainly until the present generation pf rail leaders and politicians had passed from the picture. If the Hill roads can come through with a workable plan which can hope for success on its first application, this can then he accepted as a model or pattern for the mergers to follow, thus i/V ordinating the possible influence of another rejection of a Nickel Plate plan while at the same time leaving the road clear to market Improve*' ment In the event of success for the plan being prepared by the Van Sweringens. ASPHALUEMENT PROBLEMLOOMS Concrete Men Say Board Tries to Equalize Costs. That the board of works is trying to cut the cost of asphalt pavement compete with prices of concrete, was the contention of a body cement repi'esentatives, who appeared before the board this afternoon. The meeting was a public hearing to pass on street specifications, Chester C. Oberfeas, city engineer, having recommended the surface course for concrete be changed from two inches to one inch, and the' same for asphalt, to be changed from one and one-half inches to one inch. “Construction of this nature weakens streets,” declared Walter Krull, one of the cement men.

Kellogg Was’ 'Out” - When He Called

* JaW

When Ilr. T. S. Vaca agent of tlie Sacasa liberals in Nicaragua, went to protest against the censorship severing Ills communication with home, Secretary Kellogg refused to receive him. Uncle Sain does not recognize Sacasa.

TRAINS KILL 3 LOCAL RESIDENTS OVERJEK-END One Pedestrian, Two Motor Bus Occupants Die After Accidents. One pedestrian and two occupants of a moterbus were killed by trains over the week-end. , Otto Kiefer, 70, of 3317 Boulevard PI., was killed instantly Sunday night when struck by a Pennsylvania passenger train at the S. Harding St. crossing. William Browner, flagman, told police he saw Kiefer leave the Carlo Machinery Company near by, where he is employed. 1-Ie walked into the path of the engine despite warnings. Browner said, and was hurled 130 feet. Kiefer came here a year ago from Bellville, 111., following the death of his wife. He lived with a daughter, Mrs. Clarence E. Gueclel. Another daughter, Mrs. Ernest T. Dabb, 4814 Park Ave., also survives. William C. Robinson, 30, of 2027 E. Maryland St., and O. Ellsworth Bittner, 45, of 714 N. Pine St., both engine hostlers for the Pennsylvania Railroad Company, were riding in a bus driven by Albert Bennett, 345 Trowbridge St., Saturday night, when it was struck by a C., I. & W. work .engine at the Emerson Ave. crossing. Robinson was killed instantly and Bittner died at the hospital later. Bennett clung to the bus steering wheel and with the chassis was carried a half mile down the track. The two men had taken an engine to the Hawthorne roundhouse and were en route to a street car line. Robinson is survived by a widow, a daughter, Miss Ethel May, and his father, W. H. Robinson. Funeral services will be held at 2 p. m. Tuesday at the Vehling funeral parlor, 702 Virginia Ave. veteransYoans SECURED BY U.S. Legion Official Assures Validity of Notes. Indianapolis bankers today were discussing the feasability of enlarging their policy in granting loans on World War veterans’ adjusted compensation service certificates. This action followed the receipt of letters from Paul V. McNutt. Indiana American Legion commander, giving bankers official assurance clarifying the Situation. Indiana bankers, In many Instances, have been refusing loans on the certificates, declaring the terms were vague regarding non-payment by the veteran. Nothing is' contained in the certificate regulations, they say, providing that the banks be positively reimbursed in such instances. "The loans are absolutely safe," McNutt pointed out. “They are protected by a $320,000,000 reserve fund held in the United States Treasury for their redemption. Director Frank T. Hines of the United States Veterans’ Bureau has notified the Legion that where loans have not been paid and the notes and certificates are sent to the bureau, the bureau will clear them In tAvcnty-four hours.” Gone, but Not Forgotten Automobiles reported stolen to police belong to: Flossie Hohl, 213 W. North St., Apt. 3: Ford, 577-543, from 606 Wegliorst St..Edward Johnson, 420 S. Hamilton Ave.; Chevrolet, 579-023, from Vermont St. and Capitol Ave. O. S. Ray, 326 S. Temple Ave.; Buick. 552-166, from Louisiana and Illinois Sts. Samuel Phillips, 2135 Highland Pi.; Ford, 574-876, from Missouri and Thirteenth St3. v William Sablosky, 3360 N. Meridian St.; Buick, from Bird and 1 Ohiio Sts. Margaret Goens, 1115 Windsor St.; Willys-Kniglit, 590-023, from Vermont ancP-Meridian Sts. Harry Baldridge, 1127 Parker Ave.: Ford, 549-075, from TwentyNinth St. and Broadway. Paul Stevens, 1069 W. TwentyEighth St.; Ford, from Capitol Ave. and Ohio St.

PAGE 11

FRANKLIN DENIES SEEKING AID FOR LIBERTY LEAGUE Refutes Statement Published in Anti-Saloon League Publication. Publication of an "extra” edition of the Indiana American Issue, of ficial publication of tlie Anti-Saloon League, has caused a stir among members of the Indiana Liberty League and other foes of present prohibition statutes. Refuting a statement in the prohibition paper that "agents of the Indiana Liberty League are in Canada visiting rich distillere for contributions,” Capt, Harry M. Franklin, secretary of the League, said: “As the only agent for our organization, I want to emphatically deny that I. or any of our people, haveever talked with any distiller, brewer, bottle manufacturer, label printer, or any one who could possibly benefit financially by the modification of the Wright bone-dry law.” Franklin denied he had ever been to Canada, and stated that since taking over the leadership of the organization he had been away from Indianapolis twice. Franklin indicated that a bill to permit physicians to issue prescriptions for liquor for medicinal purposes would probably be introduced into the Indiana Senate. Sunday school superintendents in' the State have been asked by E. S. Shumaker, Anti-Saloon League superintendent, to write their legislators to vote against any change which would weaken the present law. MASONIC LODGE TO NOLO SERVICES FOR R.F. STUART Funeral Tuesday for Last Survivor of Fifty-Ninth General Assembly. Funeral services for Romus F. Stuartfl 77, of 3335 Carrollton Ave.. the last surviving member of the fifty-ninth annual Indiana General ' Assembly, will be held at 10 a. m. I Tuesday from the J. C. Wilson fu- | neral parlors, 1230 Prospect St. Mr. | Stuart died Saturday, j Asa member of two sesssions of I the State Senate, Mr. Stuart was ac- | live in drafting many ot cur present I laws. Monument Bill He introduced -the bill making mandatory the erection of the Soldiers’ and Sailors’ Monument. Born in Davidson County, N. C., Air. Stuart, at the age ol“ 2, came to Marion County with pioneer parents. He had been a residei t here ever since. He attended Northwestern University, now Butler, State Normal at Terre Haute and De Pauw University. Entered Law He retired from the position of postal inspector to practice law. Ellis “\, and Charles It. Stuart, sons, survive. He was a member of the Methodist Church, Scottish Rite, Murat Shrine, and Logan Masonic “Lodge, which will conduct burial rites. UEARINGONCANN BILLJSDELAYED Abolishment of Public Service Body Topic. Fate of the public service commission may be decided Wednesday at a hearing on the Cann bill. The bill calls for abolition of the commission and reinstatement of the railroad board. Regulation of utilities would be left to communities. The bill was introduced in the Indiana Senate by Howard A. Cann, Frankfort. The hearing before the committee, of which Cann is chairrtfin was set for 10 a. m. today, but was postponed to later in the week, because a quorum was not present. Confess cannibalism Bn United Press SANTIAGO, Chile, .Tan. 17.—Three men charged with murder were captured today and horrified police by confessing cannibalism. They said they ate their fourth comrade to save themselves from starving.

'Middle ''West "Utilities Company Notice of Dividend on Common Stock The Board of Directors of Middle West Utilities Company has declared a quarterly dividend of One Dollar and Fifty Cents ($1.50) upon each share of the outstanding Common Capital Stock, payable Febrnary 15, 192,7. to all Common stockholders of record on the Company's books, at the close of business at 5:00 o'clock P. M., January 31, 19^7. EUSTACE J. KNIGHT. Secretory.