Indianapolis Times, Volume 38, Number 284, Indianapolis, Marion County, 4 March 1927 — Page 27

MARCH 4. 1927

SECOND DROP IN HOG MARKET OFFSETS WEEK’S GAINS

RALLY RESTORES FAITH IN STOCK MARKET: ACTIVE General Motors Pushes to Highest Point This Year.

Average Stock Prices

Average of twenty industrials Thursday was 1ti0.89, up 1.83. Average of twenty rails was i2(>.57. up 1.09. o Average of forty bonds was 96.33, up .03. Bu United Press NEW YORK, March 4. Speculative congdence was restored in the stock market today, by the impressive character of the rally in Thursday’s session which demonstrated that strong support was ready to come into the general list in price recessions. Further active buying and short covering came into early dealings and recovery went ahead vigorously. General Motors furnished powerful leadership, pushing into new high ground for the year at 171, up practically 8 points from the low of the recent reaction. A professional attempt to force resumption of the reaction met stubborn resistance in the late morning. Indications of important buying of General Motors, Allied Chemical, American Smelting and Steel exerted powerful influence in keeping bearish operations in check. The main body of stocks displayed a steady tone around noon, despite heavy selling of special stocks. Continental Baking A broke to a new low for the year at 03%, off 2% from the previous close. Continental’s earning so far this year have fallen below expectations, strengthening the position of interests with representation on the board, who are fighting for a reduction in the $8 dividend. , NOT DEMORALIZED Curb Market Sees Cities Service Common Recover With Good Rise. Bu Vnitcd Press NEW YORK, March 4.—The wave of selling in Cities Service common stock, which demoralized that issue on the curb market Thursday, had apparently subsided today. The first sale of the stock was a transaction involving 5,000 shares at SSO, a gain of a point over the-previous close. Cities Service stock shot up to 51 % in heavy turnover, but then declined in easy stages to 50%. Trading was active in the common stock, sales for the first forty minutes totaling 14,000 shares. The preferred stock, while quiet, moved over a wide range. Opening at S7, off 2 % from the previous close, it quickly recovered to 89.

Banks and Exchange

—March 4 INDIANAPOLIS STATEMENT Local benk o'.earinffs were $4,537,000: debits. $7,890,000. XFAV YORK STATEMENT NEW YORK. March 4.—Cloarimrs, sl,$75,000,000; balances. $101,000,000. FOREIGN EXCHANGE Bu United Press NEW YORK. March 4.—Foreign rxehaiigc opened st'eadv. Demand sterling, $4.84 13-16: franc, 3.90%c; lira 4.39%<\ nn.OO'ic: Belga, 13.89 c; mark 23.69%c. off .00 %o.

Produce Markets

Butter who'esa'e price!—Creamery best rr.-i'r. a pound. 53® 55c. Buttorfat Local dealers pay 52@53c P0"’ll. F.ffirs —Strictly fresh delivered at in-dirn-poli;-, J.SORIC doz. Poultry 1 buying prices)—Hens, large br<: !. 234; ‘Me. Leghorn. 20®22e: rooster-; and Leghorn stags. 14@15o: stapggy young y-raiyr:. I5@18e: soft moated 'rings 190 20-• Leghorn springs. 15® Id-: ducks. 17 ® 20c: geese, 11012 c: ♦ .voung- toms. 30®32c: hens.'3o@ 33c; old toms. 25c: guineas, 35c.

In the Sugar Market

(By Thomson & McKinnon) YEW YORK. March 4.—Within a month Tub : i production will have bpen < o-.ifid rr.biv curtain'd by the partial cessation o" mill op,o aliens. In the meantime, i ousumip.nu will undoubtedly have made no material gains. At present this is littie m th ■ trade nev.'3 to stimulate bullish enthuslrm. Raw and ' refined sugar prices keep with a air row range. But I think the futures market will soon anticipate declinin'- Cuban output and a gradual expansion in raw and refined requirements. B. S: O. Control of C., /. & W . Favored U.! I'nitcd Picks WASHINGTON', March I.—Approval of acquisition by the Baltiino.ee & Ohio Railroad Company of control of the Cincinnati, Indianapolis & Western Railroad under an operating agreement was recommended today in an examiner’s report to the Interstate Commerce Commission. The Baltimore . Ohio already owns !)(i per cent of the capital stock of the Cincinnati. Indianapolis & Western. The Chicago, Attica & Southern Railroad Company, a connection of the Indianapolis & Western, requested it be included in the Baltimore & Ohio system, but the examiner found such inclusion would be of no benefit to the other roads. VANDALISM CASE UP Thirty-Four Youths in Juvenile Court on SR,OOO Vandal Charge. Thirty-four youths were to face Juvenile Court Judge Frank J. Lahr ibis afternoon on charges of malicious trespass in connection with •SR,OOO worth of vandalism at the home of Mrs. H. Fuller, "Clyde and English Aves., two weeks ago. Charles Downey, court investigator, said most of the boi’s admitted being on the premises while three said they had engaged in a free-for-all fight in the library of the home, using manuscripts and books as weapons.

New York Stocks —— (By Thomson & McKinnon) -

Railroads— , . Prev. High. Low. 1 :00 close. Atchison . .170% ■ 107 ti 170% Atl Cos Li. .189% 189% 189% 1.59 B & O ...113% ... 113% 113-4 Can Pac .... • • • ■•■ 18 < % C & O ..157% 1506 1.>7% 106 C & N W.. 83% 83% 83% 83% C R & P.. 81 % 81 81 % 81 Del & Hud . 182 % ... 181 % 181 % Del & Lac- .150% ... lao% 149% Erie 46% 46% 46% 46 Erie fi pfd. 59 ... 68% 58 , Gt No pfd.. 87% ... 87 87% Leh Val ..118% .- . HBJ4 117% Kan C Sou. 50 49% 49% 49 L & N 135% M K & T. 40% 40% 40% 40 Mis Pa pfd.loo% 100% 100% 100% N Y Ceil. 143% ... 142% 143 N Y NH&H 54% 53% 54 53% No Pac .. 87% ... 86% 87 Nor &W.. 168% 167% 167% 168% Pere Mar .125 ... 125% 124 Penn 58 "i 58% 58% 59 Reading ..106 % 106 % 306 % 106 % Sou Rail ..125 125% 125% 125 Sou Pac ..109% ... 109 108% St Paul... 14 14 14 13% St Paul pfd ?1 % ... 21 % 21 % St L & S W 70 69% 70 68% ;SL& SF . 113 % ... 113 13 3 Un Pac- ..167% ... 167 167 W abash .. 73% 71% 72 70% Wab pfd .. 93% 92% 93 92% Rubbers— Ajax 11% 11% 11% 11% Fisk 18% 18% 18% 18% Goodrich . . 58 % 57 % 57 % 57 14 Good pfd .101% 101% 101% 101% ; Kel-Sper .. 34% 13% 14% 32% jU S Rub. .06 % 65 % 66 % 65 Equipments—lAm C & F.100% ... 3 0614 106% lAm Loco .114 ... 113% 113% lAm Stl F. .. . ... ... 45 % Bald Lo .192% 188 189 193 Gen E 1.... 85% ... 85% 85% Lima 71% ... 7071 % 1 N YAB.. 46% 46% 46% 46 ;Pr Stl C.*. 54 % ... 54% 53% Pullman ..182 ... 182 381% Rv Signal 115% 113 113 312% West A B 155 153% 153% 154 | West Elec. 73% 72% 72% 73% hteels— Bethlehem a 51 50 50 50% Colorado F 62% 61% 62 61% Crucible . . 06 % 95 95 % 96 % Gulf S Stl 61% 61 61% 60% PRC &I. 47% ... 47 47% i Rep Steel.. 73 72% 7.3 72 ' Sloss-Sheff ... ... . . 129 ,U S Steel 159% 158% 158% 158% | Alloy ... 26% 26% 26% 26% I Vanadium. 43% 43% 43:4 43 Motors—'Am Bosch. 16% 10% 16% 16% Chandler ..23 ... 23 23 Chrysler ... 43'.'. ... 42% 43 Conti Mot.. 12 . . ,11% 11% Dodge .~. 25% 25% 25% 25% Peerless .. 28% 27% 28% 27% | Gabriel ... 31 % ... 31 31 % Gen Mot.. 171% 169% 170 168% Hudson ... 68 % 67% 68% 00% Hupp .... 22 % ... 22 % 22 % Jordan ... 16% 15% 16 % ir.% j Mack ... 107%. 106% 106% 106 Martin-Par 32 % Moon .... 10 10 ’0 9% | Nash .... 68%, ... 68 68 Packard .. 35% 35% 35% 35 % ' Pieree-Ar... 22% 21% 21 % 22 I Studebaker. 52% ... 51 *4 51 % Stewart W 0’ % 64% 64% 04% Timken .. 91% 90% 90% 90 ' Willys-Over 24% 23% 24 24 % White Mot 57% 50% 56% 56 ”4 Mining— Am Smelt 353% 133% 152% 152% Anaconda . 47% ... 47% 47% Cerro BeP ... ... ... 61 Vi j Inspiration. 21% ... 21% 21% Int Nickel. 42 41 % 42 " 41%' Kemiecot.t . 63% 63 6.3 64 Tex G & S 55% ... 55 >4 55 C Smelt 36 % ... 36 % 36% At'anta K 115% 114% 114% 109 Ca! Petrol. 50 .. . 29 V, 30 Freeport T 44% ... 44% 44% j Houston ..Tic 109 >4 109% 109 fndnend Oh 50% 29% 3(1 29% Mm-mnd Oil 55% 55 55% 55% ' Mid Con let 35 % 35 35 % 34 % Superior Oil . . ... ... 5 % P-A Pete B. 63 62% 63 62% Pacific Oil .1% ... 1% ].% Phltiips Pet 57 % 56 % 57 56% 1 Uniin Oil .. 50% 49 49% 50 | Pure Oil .. 33% 32% 33% 32% : Royal Dutch 52% 52% 52% 51% Shell ..... 30% 30% ’ 30% 30% 'Sinclair ... 20% 19% 20 20% , Skelljr 35% 35% 35%’ '35% I S Oil of Cat 58 ... 57% 57% I S Oil of N,r 38% 38 % 38% 38% Texas Cos .. 51% 50% 51 57 | Trans Pete 5 '4% 5 4% Industrials— Ad Rumely . . ... ... 13 % Allis Chaim 96 • 95 % 96 95 Allied Chm 142% 140% l'l % 140% Armour A. . 13% ... 13% 13% Amer Can.. 49% 48% 49 4 9% Anifr Wool. 24% 23% 24% 23% A H & L pf , . . . 50 Am Saf Raz 56% ... 56 55% Cent Leath. 9% ... 954 9% Coca Cola .182% 182% 182% 182 Cont Can ... ... ... 70 Certain teed. .. ... ... 47% Davis Chem 30V ... 30% 29% Dupont ... 194% 193% 194 193 F Players .111% ... 111% ill Gen Asphalt 95% 93 % 94% 94% In Cm Eng 01 % 60% 60% tiO % Int Paoer.. 59 58 58% 57% Int Harv ..161% 160% 161% 160 Lcows .... 55% 54 % 55% 54% May Dp St >70% Mont Ward 64% 64% 64% 64% Natl Lead .184% ... 184 185 Owen Bottle . . ... ... 79 j Radio 55 54 54 54 % I Rem Type .158% ... 158 157 I Real Silk . . 45% .. . 45% 45% Sears Rocb. 53% ■. . 53% 53% lUn Dr ...168 166% 167 166% |IIS C I P. 221 ... 220% 221

In the Cotton Pdarket

By Thomson & McKinnon) I NSW YORK, March 4.—Some local tredprs are sel'ing May cotton because of the large local stock. The rest of the list is strong. I think the reaction hits gone far enough and cotton should be bought. For a scalp on the long side I think the May position is attractive.

Peppermint Oil

(By Thomson & McKinnon* NEW YORK. March 4.—Peppermint oil —Natural. $4.10fe4.12; U. S. P.. $4.25® 4.35.

Commission Row

PRICKS TO RETAILERS j FRUITS ' Apples—Box app'es, Jonathans. $2.50: Grimes, $3.25; Spitzenberg. $3.50®2.75: Staymens. $3.75: Delicious. $3.50; extra fancy barred apples Jonathans. $5.25: Grimes. $3.75: Greenings. $-1 50: Cherry Red Baldwins. $3.75: Virginia Winesaps. $5: Stavmen. $4: Delicious. s7® 7.50: New York Kings. $4.50: Rome Beauty. $4.50, Fancy barrel anutes Jonathans. $4: St ay men. $3.75 Rome Beauty. $4: New .York Baldwin. $3.50® 3.75: Delicious. $5.50. Basket apples <4O-lb. baskets)— Jonathans. 51.75@3; Staymen Winesaps, i $1.50: Delicious. $1.75; baking. $1.50: | Waauers, $1.35: New York Baldwins. ! SP.SO: Grimes. $1.50: New York Kings. SI .50. Bananas (jobing price!—4l4c lb. Cranberries —Jersey Howes, half bb!., $4 —Extra fancy. s4®s: fancy. i Orcnees—Florida. $4.50® 4.75: California navels, extra fancy. SS.SO®G 50; fancy. s4® 0. Strawberries —Florida. 50e qt. SEA FOODS I Oysters—Gal.. $3.40®3 75. VEGETABLES Artichokes—California 51.35 doz. Beans—Florida green. $7.50 hamper. Brussels Sprouts—Fauc.v California. 30c pound. Cabbage—Holland seed. Cc lb.: ’tew Texas. 3c. Cauliflower—Crate. $2.50. Celery—Florida. 4@6-doz. crate. $3.25: S® 10-Uoz. ora la. $3.50® 2.75: Mammoth (washed). $1.20 doz.: Jumbo (washed). Toe to $2 doz. Ceicry Cabbage—Box. $2.25 I Cucumbers —Hothouse. $3.75 ’dozen. I Eggplant—Florida. $3 per doz Garlic —California. 12 Vie lb. Kale—Virginia Broeoli, $1.85 bbl. Lettuce—lceberg crt., 53.50: H. li. hothouse, $1.65 15-ib. basket. Mangoes—Florida peppers $8 crate $2 peek. ; Mushrooms—Pennsylvania. $1.50® 175 for 3-lb. basket. Onions—H G. yellow, 100 lbs. 52.7a Spanish crt.. $1.85: Indiana white *2 Onion Sets—Red and yellow. 2 bu„ $5: white. 2 bn.. $7.50: Texas Bermuda plants. 5.000-crate. $5.60. Oyster Plant —H G.. 50c dozen. Parsley—H. G. 50c per bunch: southlorn 75c doz. I Peas—Mexican telephone. $4 .oo® 5 crate Potatoes—Michigan whites. 100 lbs.. $3.50: Russet Burbanks. 150 lbs.. $4: Red River Ohios. 120 lbs.. $3.75: Idaho Russets 100 lbs.. $3.50: Idaho Dakers. 00 70s S4: New Texas triumphs, $4 hamper. _Seed potatoes—Main cobbiprs. 150 lbs.. $5.50; Red River Early Ohios. 120 lbs.. $3.75. Radishes —Southern long reds 30® 35c: hothouse buttons. $1.25. Rhubarb—H. G.. ffOc. Root vegetables—Turnips. bu.. $1 : parsnips, bu.. $2: carrots, bu. $1.50: new Texas, bu.. $2: Louisiana carrots. 05c doz : Canadian rutabagas. $2 cwt.: H. G. beets, bu.. SI .50: Texas beets. 52.25 bu.: Louiana bee**. 85c dozen. Shallots—Louisiana. 05® 75c dozen Spinach—Texas. $1.35. Sweet potatoes—lndiana Jersey $2.25 bu.: Nancy Halls $1.35: Indiana mediums. $1.50. Tomatoes —Six-basket crt . $5.50® 6.50.

IT Sln Al. 86% ... 85% 85% Woolw ...126% ... 12o’s yl:o% Utilities— Am T & T. 159% 150% 159% 159 Am Exp . . . . ... •• • 134 % Am Wa Wk 76 ... 76 70% Bklyn Man 68fs ... 68-* 08% C G & El. .. 85 Cons Gas.. 98% ... 98% 98% Interb •• • . •• • , 4 < No Am Cos. 48% 48% 48% 49% Peo Gas.. .. ... ••• 130% Phil;* Cos. . .• , ... •• • „ 90 St G & El. 56% ... ...0% 50*4 West Un . 151 % ... 101% 151 Shipping— Am Int Cun 159% 159 159% 38% Am Sand C . . ... ... .5 Atlan Gulf ... ... . ■ • 42% I M M pfd 43% 43 43% 42 % Untd Fruit... ... • • • 131 Foods— Am Suyar. S4 ... 84 83 Am Bt Sug . . ... ... 22 % Austin Nich 8 ... 8 8% Beech N Pk 68 Calif Pack. . .; • , , 'Jilt Corn Prods 51% .>O% oO • 50% Cuba Cn pf 46 ... 46 46 Cuba A Sug . . , . . .• • 2o Fleischmann 51 < ... ._>l % 01% Jewel Tea.. 58% ... 58 % 58 Nat Biscuit 99-j* .., 99% 98>4 Punta Ale. 42 ... 42 42 Postum .. 98 ■}& .. . 98 98% IV BU (B) 31 30% 30% 30% Tobaccos— Am Suma .51 50 % 50 % 50 Am Tob ... • •• 123% A Tob (Bl 121% 121% 121% Con Cigars ... ... . 83 Gen Cigars •>•> 04% 00 54 Ts Liggett ... 91% ... 91% 91 Lorillard .... ••• , _• • • ,39% R J Rey.. 104 103% 104 102% Tob P (B) 107% ... 107% 107% U Cig Stor 9:. 94% 93% Schulte RS 50% 49% 49% 49% bullishlone IN WHEAT PIT All Grain Prices Higher at Board’s Opening. Bu United Press CHICAGO, March 4.—With sentiment among traders decidedly bullish. wheat opened % to lc higher than yesterday’s close on the Chicago Board of Trade today. Liverpool and Buenos Aires were somewhat higher than expected and this gave some strength to prices here Corn opened % to Vi higher than the previous close.' The poor local and shipping demand for cash corn continues to be the real depressing influence of this grain. The sui - - plus of Argentine export is very large, but is of poor quality, and is not considered as depressing a factor as the large stocks on hand here. Oats are showing some independent strength on buying by traders who think well of the fundamental situation as compared to that of other grains. Opening prices were Vs to % higher than Thursday’s close. Provisions opened unchanged. Chicago Grain Table —March 4 WHEAT— Prcv. High. Low. 11:00. close. May 1642 1.41 1.41% 1.40% July 1.35 1.34% 1.34% 1.34 Sept 1.32% 1.32% 1.32% 1.31 % CORN— May 78 .77% .77% .77% July 82% .82% .82 Vi .81% Sept 86 .85 .85% .80% OATS— , May 47% .40 74 .4,% .46% July 47% .47% .47% .47 RYE— May 1.07% 106% 1.07% 1.06% July 1.05% 1.04% 1.06 1.04% M-rch .. . 12.75 12.65 12.77 12.72 May 12.75 12.65 12.77 12.72 July 13.00 12.85 13.00 12.92 May IB . S .T. 14.95 14.95 15.00 Dn Times Special CHICCAGO. March 4.—Carlots: Wheat. 16; corn. 289; oats, 40; rye, 1. IRVINGTON IS AROUSED Club to Discuss Sewerage Problems Monday Night. The South Irvington Community Club will hold a meeting at school No. 82, English and Emerson Aves., Monday night to discuss the seweage problems of that community, according to Mrs. A. R. Morgan, club secretary. •'lrvington is aruosed over the sewerage problem,” Mrs. Morgan said. “We are going to have City Attorney John K. Iluckelshaus and City Engineer Chester C. Oberleas at the meeting to explain why the Bean Creek sewer work has been held up so long. We have paid assessments on this and the sewer is no farther along in construction than before.” Residents along Pleasant Run Blvd. report that conditions are unbearable because of sewerage in Pleasant Run, Mrs. Morgan said. They are considering drastic steps, she said. BOOM FOR CALIFORNIA Istutz Head Sees Future for \\ estern State—Cites Deposits Bu Times Special LOS ANGELES. Cal., March 4. Speaking at the annual dinner meeting of the Engineers’ Club Thursday night, F. S. Moskovics, Indianapolis, president of the Stutz Motor Car Company, declared southern California is “destined to become the greatest field in the world for technical engineers.” He said tremendous industrial development will grow out of the Boulder Dam project. Moskovics pointed to the proximity of the elements of aluminum to the Bowlder dam site and the great iron and coal deposits in Utah.

Signature Sent by Radio Bu United Press PITTSBURGH, Pa.. March 4. —RtCdio transmission of signatures has successfully been brought into uss by a -wealthy Pittsburgher to confirm a sl,000,000 transaction in England. The capitalist, whose name was withheld, was informed by the Mellon National Bank that $1,000,000 in notes held by a house in Leeds would fall due in four days. There would have been no time to forward his signature by mail, so the radio was used. The Radio Corporation of America reported that the signature was received clearly in London, having been transmitted by the same process used in sending pictures.

. THE INDIANAPOLIS TIMES

Cattle Steady to Strong— Lambs Little Changed —Vealers Drop. —Hog Trite Range— Feb. Bulk. Top. Receipt? 25. 11.85 (SI 12.10 12.10 4.000 26. 11.90® 12.10 12.15 2.500 28. [email protected] 12.25 4.000 March n .85® 12.30 12.35 5.060 2. 12.00® 12.50 12.50 5.000 3. 11.85 012.35 12.40 4.000 4. 11.75 @ 12.15 12.25 4,000 A decline of 10 to 15 cents on the hundredweight, in addition to Thursday’s reduction in the hog market, • placed prices at the Indianapolis I Union Stockyards on a level with I those at the opening of the week today. A drop of 15 to 25 cents at Chicago kept the two centers trading at about the same rates. The local price cut was mostly 10 cents, with a'few bids as much as 25 cents off. The packer market was not fully established. The greater portion of the sales were at $11.75@ 12.15, some setting $12.25 as the current top figure.' Receipts were 4,000, holdovers, 505. Hog Price Range For material weighing 1 CO-225 pounds, the rate was [email protected]; 225250 pounds, $11.75@12; 250 pounds up, [email protected]. Pigs cleared at sl2 down and packing sows at slo@ll. The cattle market was steady to strong, the run estimated to be 700. Beef steers went at $8.25© 11; beef cows, [email protected]; low cutters and cutter cows, [email protected], ‘and bulk stock and feeder steers, $6.75@8. Veal Drops • Calves were around 50 cents lower with a 900-head run. Best vealers brought sls, other grades selling downward from this mark. The sheep and lamb market received 300 meat animals, but no choice lambs were in the lot. On lower grades the market was about steady. Top fat lambs were quoted at $15.75, a few fed westerns going at $15.50 and natives at sls down. Bulk fat lambs were [email protected], and bulk cull lambs, $8.12. —Hors— Receipt?. 4,000; market, lower. 96-130 lb? $11.50® 12.00 130-160 ibs. 11.75® 12.15 160-200 lbs 12.00® 12.25 200-250 lbs 11.76 @12.1 5 250 lbs. up 11.50® 11.85 —CattleReceipts. 700; market, steady to strong. Beet steers $8.25 (ft; 11.00 Bulk stock and feeder steers. 6.75 w 8.00 Beef cows 5.50® 7.25 Low cutters and cutter cows 3.75® 5.25 , —Calves— Receipts. 900: market, lower. Best vealers $14.00® 15.00 Heavy calves 6.50® 9.00 —Sheep— Receipts. 300; market, steady. Top fat lambs $15.75 quotable Bulk fat lambs 13.50® 15.50 Bulk cull lambs B.oo® 12.00 Other Livestock Bu United Press CHICAGO. March 4.—Cattle Receipts, 2,000; killing classes steady, uneven; vealers 25®50c lower: best heavy steers, $12.25, average weights, 1,638 lbs.: lew loads, $10011.50: bulk. s9®lo. with sprinkling of light meaty offerings at $8.50® 8.75: most fat cows, $5.75® 6.75; heifers, $7.50®9: vealers. largely $11.50 12.60; outsiders. $13.50® 14.50. Sheep— Receipts. 15,000: shippers and yard traders inactive; early trade to packers slow; trade mostly on in-between graJes, weak to 25c lower: choice lambs held for steady E rices; asking upward to $15.60 for choice andyweightsj early bulk wooled lambs, $14.60 @15.25: few loads heavy lambs. $14.25® 14.75: sheep steady; feeding and shearing lambs slow, unchanged; medium to good finishers, $13.75® 14.50. Hogs— Receipts. 28,000; market fairly active. 15 @2sc lower than Thursday’s average: heavyweights $11.26® 11.60: mediumweights. $11.35® 12; lightweights. $11.50 @12.15: light lights. $11.35® 12.15: packing sows. slo.lo@ 10.85; slaughter pigs. [email protected]. Bu United Press CINCINNATI, March 4.—Hogs—Receipts, 2,200: holdovers. 1.875; market, draggy and weak: 250-350 lbs.. sll® 11.75: 200-250 lbs., $11.65® 12.25; 160200 lbs.. $12.25 @12.40; 130-160 lbs.. $12.15® 12.40; 90-130 lb?.. $10012.25: packing sows, $9.25® 10.25. Cattle—Receipts, 400; calves. 500; market, steady, veals 50c lower; beef steers, $7.50® 10.25; light yearling steers and heifers, s7@lo; beef cows, $5.50 ®7; low cutters and cutter cows, [email protected]: vealers. slo® 14.50: heavy calves, s6® 10; bulk stock and feeder steers, $6 @7. Sheep—Receipts, 100: market, steady; top fat lambs, sls; bulk lat lambs, $12@16; bulk cull lambs, $6 @9. Bu Times Special LOUISVILLE. March 4—Hogs Receipts, 900: market 10c lower: tops. sl2. Cattle—Receipts 100; market steady. Calves—Receipts. 200; market 50c lower; good to choice. sll® 13; medium to good. [email protected]; outs, $8.50 down. Sheep— Receipts. 50; market steady: top lambs. $12@13; seconds. $10®11; sheep, s6@7. Bu United Press CLEVELAND. . March 4.—Hogs—Receipts. 1,800; market, 10c lower: 250-350 lbs.. sl2® 12.25; 200-250 lbs.. $12.26® 12.35; 160-200 lbs., $12.35@ 12.50; 130160 lbs.. $12.35® 12.50; 90-130 lbs.. $12.50; packing sows. $10.50 011. Cattle—Receipts. 200:. calves, receipts. 250market, steady; beef steer?. $8 @8.50light yearling steers and heiters, $8.25 to 8.75; beef cows, [email protected]; low cutters and cutter cows. s4® 4.75: vealers. sl6® 16.50. Sheep—Receipts, 2,500: market. 2oc lower; top fat lambs. $15.50: bulk fat lambs. $lo; bulk cull lambs. sll® 12.50; buik fat ewes, $6 @B. Bu United Press EAST BUFFALO. March 4.—Hogs—Receipts. 3,000: holdovers 3.200: market weak to 10c lower, pigs off more; 250JaO lb*.. $11.75012.25; 200-250 lbs., sl2.la® 12.40: 160-200 lbs.. $12.35® 12.60; 130-160 lbs.. $12.40012.65; 90130 lbs., $12.50 is. 12.75; packing sows. $10.50011.25. Cattle—Receipts. 250; calves 250: market steady, calves 60c lower; vealers. $15.50® 16. Sheep Receipts. 6,500- market strong: top fat lambs. $15.85; bulk fat lambs, $15.50® 15.70; bulk cull lambs. $12.50@14. MELLEITACCUSED HELD Former Detective In Jail Facing First Degree Murder Charge. Bu United Press CANTON. Ohio, March 4.—Floyd E. Streitenberger, former detective of the Canton police department, was held in the county jail today facing the charge that he murdered Don R. Mellett, editor of the Canton Daily News. The murder, last July, was the result of a conspiracy between the policeman and leaders of the underworld, against whom the editor had crusaded, the State charges. A bootlegger and gunman have been convicted of the killing. The former detective was brought here early today from Springfield, where he was arrested late yesterday after the special grand jury which reopened investigation of the murder returned a first degree murder. SMALLPOX AT JAIL Eighty-Five Prisoners Vaccinated at Terre Haute. Bu United Press TERRE HAUTE, Ind., March 4. Eighty-five prisoners at the county jail nui-sed 3ore arms today and breathed odious fumes of disinfectant as result of discovery that Cecil Withrow, son of the night jailer, had developed smallpox. Three doctors woiked throughout the night in relays vaccinating the prisoners. One fainted when his arm was scratched and the work was completed as he reclined unconscious on the jail floor.

STOCK ISSUES START RECOVERY OF LOSSES Slight Uncertainty Seen at Intervals, but List Shows Higher Prices at Close.

By Elmer C. Walzer, Manager United lk-ess Financial Service NEW' YORK, March 4.—Proving that the reaction of Wednesday was merely a technical correction, stocks snapped back in good form Thursday after a few waves of uncertainty at intervals. In the last hour BUYING POWER LOWER Farmer Effeetive Factor in General Business Conditions, Bu Times Special NEW YORK, March 4.—The lowered purchasing power of the farmer is becoming an effective factor in the general business situation, the Brookmire Economic Service reports in its weekly analysis of conditions. Little change in conditions is expected until the middle of next summer when prospective income from 1927 crops will begin to have a decided effect upon buying by rural customers. Inasmuch as farm purchases will not be likely to equal last year’s, the analysis predicts that the probable level of business for the next iSix months will depend largely upon the maintenance of retail trade in the cities. Births William and Johnnie Haddox. 1529 Hamilton. Otto and Cornelia Adams. 2241 % Northwestern. Pant and Blanche PUlkenton. 921 Park. William and Blanche Brinsley. 816 Centennial. Charles and Gladys Manors. Methodist Hospital. Isaac and Esther Sarfety. 1006 S. Capitol. Wililiam and Bessie Whitaker. 2743 W. Sixteenth. Herman and Lillian Roll. 1403 E. New York Albert and Dorothy Xelis, 1929 8. Meridian. Boys , Charles and Carrie MeCov. 920 N. Lynn. Francis and Laura MeCampbell. 2649 Burton. Roy and Edna Shepherd. 1047 W. Twen-ty-Eighth John and Marie Casey, 1502 Finley. James and Fannie Hodges. 2365 S. Eastern. Clarence and Myrtle Powell. 431 S. Ritter. Deaths Jasper Grant Gilkison, 70. 153 E. Twen-ty-Third. myocarditis. John T Hanrahan. 49. St. Vincent Hospital. lobar pneumonia. Mary McMahon. 38. 612% S. Illinois, pulmouaiw tuberculosis. Peter®. Piers. 74. 4309 College, acute endocarditis. Francis N. Crawford. 81. city hospital, chronic nephritis. George Buchanan. 50. city hospital, cerebral hemorrhage. Callie Burnett. 24. 1168% Hiawatha, carcinoma. Louisa Thurston Marshall. 62, 2814 N. New Jersey, hemiplegia. Trinvilla Stephenson. 81, 256 S. Sherman Dr., lobar pneumonia. Jessie Vivian Overman. 47, city hospital, chronic nephritis. Albert John Hutton. 14, St Vincent Hospital. general peritonitis. , Richard Arnold. 51. city hospital, uremia. Hiram H. Clark. 76. 767 E. McCarty, lobar pneumonia. Hattie Rothrock, 49. Methodist Hospital. gangrene. Infant, Hart. —. 1310 W. Market, premature birth. Minnie Hcnn. 80. 614 E. Michigan, carcinoma. Enos A. Boyd. 50. 1014 Churchman, broncho pneumonia.

Fairfield Manor Realty Company A corporation now building a seven story hotel-apartment property in one of the finest residential districts of Fort Wayne

F/Operty —The realty company owns a valuable site at Fairfield and West Creighton Avenues, Fort Wayne, on which construction of this hotelapartment building has been started. The building, which will be constructed of stone, brick and concrete, will be beautiful in design, and will contain seventy-six, three to six-room apartments. Ultra-modern facilities and equipment are to prevail throughout the structure. The plans have been prepared by Mr. Charles R. Weatherhogg, Ft. Wayne architect and have been approved in detail by highly experienced hotel-apartment operators. Security —This issue will be amply secured by the ground, building and equipment conservatively valued at $676,551. The total issue of first preferred stock will be less than 66% of the value of the property. Conservatively estimated eam-

best advances of the day were scored, and at the close the list showed a long line of higher prices, some of them being as much as 12% points above the previous close. Early in the day. after a higher opening, a selling wave was started, following the break in Cities Service common stock on the curb market. Incidentally, thhs event was the outstanding feature of the entire session in the financial community. Henry L. Doheny, head of the company, is admittedly ill, but his condition was exaggerated In reports reaching the curb floor, with the result that Cities Service was attacked sharply, prices falling so rapidly and selling orders coming so fast that the specialists could not cope with the situation. In the first hour curb authorities ordered trading in the stock suspended. Rapid Sales When dealings resumed at 2 o'clock, the price fell further and then began to recover. Opening at the issue dropped 10 points fro mthe previous close to 48, and on reopening at 2 o’clock lost further to 40%. The close was at 49, a loss for the day of 9 points. Recently a selling campaign of Cities Service stock had been under way. Buyers had placed stop-loss orders in the issue and these were touched off in the decline further depressing the stock. Sales came so fast that it was impossible to keep track of them, and the curb removed the issue from the cleared securities list, forcing brokers to untangle their own dealings, and giving a bit more time for those caught in the wave of liquidation to cover. Transactions for the day reached 37,800 shares. Many Advances Despite efforts of bears they were unable to depress the stock list following the break in this curb issue. General Motors shot, up 4?i points, Steel gained a half point. Commercial Solvents B, 12%; Federal Mining and Smelting. Westinghouse Airbrake, 6; National Lead, 4%; Eastman Kodak. BU; Case Thrashing Machine, 5%; Crucible Steel. C 3 g, and American Smelting, 3%. Gains by far outnumbered losses and many running over 2 points, in addition to the ones mentioned above, were scored. Stromberg Carburetor, which di-opped more than 11 points Wednesday, lost 3% additional Thursday. Trading was lighter, hjit 1,811,200 shares changing hands, the first deviation from 2.000,000 in some time. Money was easy, despite withdrawals of 11.7,000,000 in loans. Silver declined, bnt failed to bring a reduction In Japanese yen. which reached the highest level In four years. Cotton eased off, ns did wheat. The bond market was quiet and easier, recent favorites being under selling pressure.

Ojfered ivhen, as, and if issued and delivered to us Price SIOO Per Share and Accumulated Dividends—Yielding 6% DETAILED INFORMATION ON REQUEST Fieicker American Comrpanif Affiliated with The Fletcher American T^attonal Dan\

Indianapolis Stocks j

•—March 4 —Storks— Hid. Aak Amer Central Life 600 ' • • • Arne? Creosotinj Cos pfd...101 103 Ail Rumely Cos com 12 13 Ad Rumely Cos pfd 35 35 % Belt R R com 66% 71 Belt R R pfd 57 Cent Ind Power Cos pfd.... 88 % ... Cities Service Cos com 48% ... Cities Sen-ice Cos pfil 88 ... Citi’.ens Gas Cos com 411% 52 Citizens Gas Cos pfd 106 ... Commonwealth Loan Cos pfd 99 i... Equitable Securities Cos com 51 ... Hook Drue Cos com 29 ... Indiana Hotel com 120 Indiana Holel pfd 100 .... Indiana Pipe Line Cos 64 ... Indianapolis Gas 59 62 Indpls & Northwestern pfd.. 50 ...... Indianapolis St Ry 38 38 % Interstate P Ser pr lien pfd 99% .... Merchants Pub Util Cos pfd.lOn ... Progress Laundry com .... 22 % ... Pub Sav Ins Cos 18 •. Ranh Fertilizer pfd 48% ... Real Silk Hosiery nfd 98 Standard Oil Cos Inil 68% ... T H 1 & E com 3 ... T H I & E pfd 24 T HTU Cos pfd 89 i. .. Union Trac ot Ina com ... .. Union Trac of Ind Ist pfd .. lO Union Trac of tnd 2nd nfd.. .. 2 Union Title Cos com .. 85 Van Camp Pack Cos pfd.... 16 ... Van Camp Prod Ist pfd.... 90 97 Van Camn Prod 2nd . , 5 Wabash Ry com 71 % ... Wabash Ry Cos pfd 92 • —Bank Stock*— Aetna Trust and Sav C0....115 . Bankers Trust Cos 133 ... City Trust Cos 140 .... Continental National 116 Farmers Trust Cos .........240 ... Fidelity Trust Cos 162 >.. • Fletcher American .......170 ... Fletcher Sav and Trust Cos. .260 ■ i . Indiana National Bank ....269 270 Indiana Trust Cos 230 250 Livestock Ex Bank 162 ... Marion County Bank 205 ... Merchants Nat Bank 835 . Peoplps State Bank 186 ... Security Trust Cos 270 ... State Savings and Trust ... 84 94 Union Trust Company ....410 ... Wash Bank and Trust C0..J58 ..v —Bonds— Belt R R and Stockyards 4s 90 ... Broad Ripple 6s 79% .... Central Indiana Gas 6a.... PS ... Cent Ind Power Cos 6s 105 ... Citizens Gas Cos 5s 162% 103% Citizens St R R 5s . .U'.’ Home T and T of W 6s. .. .103 104 Indiana Coke and Gas 0a..102% ... Indiana Hotel 6s 98% ... Indiana Northern 5s 4 Ind Rv and Lt 6s ........ 95 Ind Service Corp 6s 02% ... Ind Union Trac 5a 4 • • ■ Indpls Col & So Os 98 100% Indpls Gas Cos 5s 00% 100% Indpls Lt and Ht 5s 101% 103 Indpls & Martinsville 5s .. 71 ... Indpls Northern 5s 23 24 Indpls Sc Northwestern 55... <1 ... Indpls * 8. E. 65.... 2 ... Indpls Shelby 49E 0t.... 2 . Ai Indpls St Rv 4s fit's 6. Indpls Trap and Term 55... 95 00 Indpla Union Ry 55.......101 ... Indpls Water Wks Sec C0..100 ... Indpls Water 5%s ■ Indpls Water 4%s .SU 4 .5!!!,, Interstate Public Serv 65...102 Interstate Pub SBs 0%5...103% 104% THU Kb 81 r H T and I.t 5s ?3 .\. Union Trac of Ind Os 19 % 20 —Liberty Bonds—--Ist 3%s 101.40 101. no Ist 4%s 103.20 103.40 2d 4% a 100.50 100.7(1 3d 4%s 101.30 101.40 4th 103.70 103 86 U S Tr 4% s 111.30 111.40 U S Tr 4.1 106 90 107.00 U S Tr 104.30 104 40 —Sales—--20 shares Indianapolis St R.v 39 10 shares Indianapolis St Ry..... 38% 10 shares Indianapolis St R.v 38% 10 shares 'ndianapolis St R.v 38 60 shares Indianapolis St Ry 37 % HUGO HOME FALLS PARIS, March 4. —The oM chateau where Victor Hugo used to court Adele Foucher, and where they spent the first years of their married life, recently collapsed. It now lies a mass of wrecked masonry and rafters. The chateau was built in the 13th century and many romantic figures of French history have visited the place.

A Realty First Preferred Issue of $450,000 Amply Secured by High-Grade Fort Wayne, Ind. Property, with Dividends at D/0 Cumulative First Preferred Tax Exempt Stoc\

ings are more than 2.10 times the maximum annual dividend requirements on this issue. Safeguards —Officers and directors of the realty company are experienced and well-to-do Fort Wayne business men, who have conducted careful investigations to ascertain the demand for the type of structure they are building. All of the customary safeguards required by the Fletcher American Company on real estate preferred stocks surround this issue, 'assuring investors of maximum safety. Quarterly dividends will be payable on the first day of March, June, September and December, with the first dividend payable June 1, 1927. Maturities are provided annually, beginning on September 1, 1929, and extending through March 1, 1943, but the issue is callable, in whole or in part, on any dividend / date at 102 and accumulated dividends.

PAGE 27

FAILURES DURING FEBRUARY LOWER Fewer Than in January or Year Ago. Bu Times Special NEW YORK, March 4. A seasonal decline In the number of failures in the United States invariably begins in February, and the total reported to R. G. Dun and Company for last month Is 2,035. This is 17.4 per cent below the 2,465 commercial defaults of January, but a part of this substantial decrease is accounted so rby the fact that February Is the shortest month of a year, and is made still shorter by holidays. Comparing with the 1,801 insolvencies of February, 1926, an increase of 13 per cent appears, although In this connection some allowance should be made for the larger number of firms and individuals now engaged in business. Like the number of failures, last month's liabilities of $46,940,716 show a falling off from the $71,290,232 of January, the reduction being 8.5 per cent. On the other hand, the amount for February exceeds by 37.4 per cent the $34,176,316 of the corre.tponding month of 1926. There were more largo defaults last month than a year ago, those for SIOO,OOO or more of indebtedness in each case numbering 64, against 44 in the earlier year, and tho liabilities of last month’s large insolvencies approximated $25,200, ns compared with only about $13,500,000 for such failures In February, 1926. The defaults of unusual size supply 53.7 per cent of last month’s aggregate Indebtedness, while In February, last year, the large Insolvencies provided 39.6 per cent of the total liabilities of all failures. GASOLINE RISE UNLIKELY Not Expected Unless Weather Esiiecially Favors Motoring Bu Times Special NEW YORK, March 4.—ln the face of the current high rate of gasoline production, unusually favorable motoring weather will bo necessqnT to cause a sufficient rise in prices to justify heavy purchases, tho Brookmire Economic Service, Inc., states in its trade bulletin. December showed heavy consumption and exports, but production was at even a higher rate with the result that stocks increased. The increased number of enrs In use this year points to greater consumption In 1927. but prospective production aeems well able to take care of lt.

Local Wagon Wheat

Local strain elevators are paying $1.23 tor No. 2 red whrat Other grades ar ottroJinsert on their merits