Indianapolis Times, Volume 38, Number 290, Indianapolis, Marion County, 11 March 1927 — Page 27

MARCH 11,1927

PORKERS DECLINE MORE THAN 10 CENTS

CREDIT SOLIDITY SHOWN BY GOLD HELD Accounts for Strength of Stock Market and Bears’ Success.

Average Stock Prices

Averages of twenty industrials Thursday was 160.87, up 1.01. Average of twenty rails was 126.24. up .73. Average of forty bonds was 96.47, up .12. Bu United Press NEW YORK, March 11.—In its statement as of March 9, thel Federal Reserve system had gold holdings of $3,012,661,000. This practical illustration of the solidity and breadth of the country’s credit base furnished ample explanation for tha underlying strength recently displayed by the stock market and accounted for the lack of success which has lately attended bearish efforts. In early dealings, active issues agave evidence of technical improvement resulting from the set-back in yesterday’s late trading. Atchison maintained the leadership of rails, establishing a further record high at 175, up IL4 from the previous close. Oil Encouraged Oil shares were stimulated by overnight announcement of dividend increases. Barnsdall A, whose rate was advanced to $2.50 from $2 previously paid, gained % to 33%, while Midcontinent Petroleum, which was established on a $3 basis after paying nothing since spurted to 37 HUnsettlement was created in the late morning by the bear, drive designed to force resumption of the reaction in the main body of stocks. General Motors sold down to 171%. off more than a point from its earlier high and similar recessions took place in other leaders. Little Interruption However, no liquidation of importance was idsgorged and prices displayed vigorous rallying power whenever professional pressure light-, ened. Special stocks moved ahead without interruption. Eastman Kodak achieved the highest levels on record at 138 up 4 from the previous close. The gain was attributable to investment buying which is being attracted by constantly increasing lines of business.

Banks and Exchange

—March 11— INDIANAPOLIS STATEMENT Local bank clearings were $3,991,000: debits, $6,769,000. NEW YORK STATEMENT Bn T nited Press NEW YORK. March 11.—Clearings. 31,052.000,000; balances. $100,000,000. FOREIGN EXCHANGE Bn t nited Press NEW YORK, March 11.—Foreign exchange opened steady. Demand sterling. $4.84 13-16: francs. 3.90%c: lire. 4.45%c, off .00%e: belga. 13.89 c; marks. 23.70 c.

In the Cotton Market

(By Thomson & McKinnon) NEW YORK. March 11.—More of the cotton bought by investors around the first of the year was sold yesterday. It found a fairly good market. Liouidation seemed the order of the day. and my opinion is (hat it will continue to exceed the demand as long as no new factor of a constructive nature appears. Sellers are taking their time because the market shows resistance. I expect a further decline.

In the Sugar Market

(By Thomson & McKinnon) NEW YORK, March 11.—Yesterday’s closing: sugar futures quotations were scarcely different from the prices which prevailed at the end of last week. The market for actual raws, if anything, was a trifle improved, as evidenced by the small offering at the 3Vs figure. Refined ‘(notations have been stationary recently. The markets pimply lack anew incentive. If current predictions of lower prices are liorne out I doubt very much that the losses will be of any consequence. 1 think a sudden and surprisingly large demand would develop under such circumstances. The buying side is the better course to follow. OUTLOOK GOOD Balance tXeairly Effected Between Production anti Consumption. flit Taura dvecinl NEW YORK, March 11.—The major decline in prices of rubber is probably over, the Brookmire Ecoiipmic. Service, Inc., reports in a commodity analysis. Production and consumption are in closer balance and there is every reason to believe that they will continue so. So far in 1927, rubber stocks have shown further increase, but unless prices advance considerably further, restriction of exports from the British area will go into effect. World consumption for 1927 is likely to show some expansion, but foreign countries are expected to show a larger percentage gain than the United States. GOLD IMPORTS INCREASE Larger Bank Reserve Results—Private Banks Become Independent. 81l United Prcsa NEW YORK, March 11. —Net gold imports continue large, the Brookmire Economic Service, Ine., reports in its analysis of fundamental conditions, resulting in continued increase in the bank reserves of the country. The total gold reserve in the Federal reserve system at the close of February was $201,000,000 higher tthan that at the close of February, 1926. and shows an increase of $175,000,000 over that held at the close of December. Asa consequence there is a tendency for private banks to become independent of,the rediscount privilege, and rediscounts are now only $396,000,000, against $538,' 000,000 a year ago. Portable timepieces have been in ► use for 400 years.

New York Stocks

—March 11— Railroads— Prev. High. Low. 1:00. close. Atchison . .176 % 174 175% 173% At Coast L 189% 189 189-% 188'aB. & O 113% H 2% 112% 113 Can Pac...187% 180% if*},, C. & O. . .157% 157 157 % 156% C & N W 82 % ... 82 % 82 ‘4 C..R. &P. 8382% 83*5 83% Del & Hud 182% ... 182 181*, D & Lack 149 % 149 Ji 3 49% 149 Erie 45 % 44 % 4o .. 4o Erie Ist pfd 57% 56% 5/ % ’5% Gt No pfd 8S % B*% 88 % 87 Lehigh V.. ... • • • K C South o 2 ol % oils •>! A L & N 13.)% MK. & T.. 39% 39 39 % 39% Mo Pa pfd 100% 100% 100% 100 N Y Ceil... 144% 143% 144% 142% NY NH&H. 53 52% 2 % 52% No Pacific. 88 87% 88 8, Nor & W.. 169 ... 169 168 Pere Maro 122 121% 122 13|% Pent sylvan. 8% 58% 58% Reading .. 106% .. . 106% TRiiL'l S Railway 124% 123% 124% 1L3% So Pacific 109% 108% 109 108% St. Paul ... • ; . 13% St Paul Pfd 20% . . 20% 20% SLA S W SL& S F 113% 113 113% 112% Union Pac 105% . . 165% 166% Wabash .. 72% 72% 72% 72 Wabash pfd 94 93% 94 - 93% Rubbers— • Ajax 11% 11% 11% 11% Fisk 18% 17% 18% 18% Goodrich .. 55 % ... no % oo % Gdyr pfd.. ... ... •• • 100% Kelly-Spg. . 18% 17% 18 17% U S Rub.. . 63 % ... 62 % 62 % E<l uipments— Am CSc F 103**i ... 103 104% Am Loco. 111% ... 11l 11?,, Am Stl Fd . . . 40 % Bald Loco 188% 187% 187% ... Gen Elec.. 85 % 85 Bt> 84 % Lima ... •• • „ 76% N Y Airb.. 45% ... 40% 45% P Steel Car 52 % ... o 2 % 53 % Pullman .181% 180 181 181% R.v Signal. 113% ... 112% 12% West A B 153% 152% 103% 102% West Elec. 72 % ... 72 % 72 % Steels— Bethlehem. 50% 50 50 50% Colorado F 60 % ... o 9 % 60 Crucible... 94% 92% 93 93% Gulf S Stl 62 P R C & I 46% 46 46% 46% Rep Steel. 1 75 % • • 75 7o % Sloss-Sheff 129 U S Steel 160% 159% 100 160% Alloy 26% *■ •* 26% 26% Vanadium .43% .. 43% 43% Motors— Am Bosch. 15% ... 15% ... Chandler .... ... ... 23% Chrysler 43% 42% 43 42% Conti Mot.. 11% . . 11% 11% Dodge .... 24% 24% 24% ~4 Peerless ... . • ■ 26 % Gabriel ... 30% ... 30% 31% Gen Mot.. 172% 171% 172% 171% Hudson ... 73% 72% 72% 73 Hupp 22% 22% 22% 22% Jordan ... 18% ... 18% 18 Mack 106% 105% 105% 105% Martin-Par 22% Moon .... 9 ... 9 9 Nash .... 66% 66% 66% 66% Packard .. 36% 36 36 36% Pieree-Arr.. 22 % 22 % 22 % 22 % Studebaker.. 51 % 51 % 51 % 51 % Stewart W.. 61 , 00% 00% 60 % Timken ... 88% 87% 88% 87% Willyg-Over. 24% 23% 24 23% White Mot 51% 50% 51% 51 Mining— Am Smelt 150% ... 149% 149% Anaconda . 46% ... 40% 40 % Cerro De P 63 ... 62 % 02 % Inspiration ... ... ... 20% Int Nichel. 41% ... 41 % 41% Kennett 62 % 62% 02% 62 % Tex GAS 56 % 55% 56% 55% U S Smelt 36% ... 36% 30 Oils— Atlanta R 114% ... 114% 114% Cal Petrol 29 % . . 29% 29*5 Freeport T 44 % 44 % 44% 44 Houston ..119 116% 116% 118% bid Oil.. . .27% ... 27% 27% Marland Oil 54% .. . 54% 54% Mid-Cont P 37% 37% 37% 36% Sup Oil 5 % P-Am Pi B) 63 62% 62% 62% Pacific Oil 1 % Phillips P.. 55% 55% 55% 56% Union Oil.. 50 % ... 49% 49% Pure Oil.. 32% 31% 32 31% Royal Dut ... ... ... 51 % Shell 30 4, . . .10% 30% Sinclair ... 19% ... J 9% 19% Skelly ... 33 55 . 33% 33% S Oil of Cal 57% 57% 57% 57% S Oil of N J 38 % 38% 38% 38% Tex Com.. 50 ... 49 % 49 % Trans Pet. 4•% ... 4 % 4 % Industrials— A Rumely ... .... ... 14 Allis Chaim 96 \. . . 96 95% Allied Ch. 141% 140 141% 140 Arm (A). 13 ... 13 13 Amer Can. 48% 47% 48 48% Am Wool. 23 . . 22% 23% A HAL pfd 51 51 51 51% Am S Rax ... ... ... 52 Cen Leath ... ... ... 9% Cooo Cola .192% 191. 192% 192% Cont Can.. 69% . . 68% 696, Certainteed ... . . ... 47% Dav Chem ... ... ... 29 Dupont .. 199% 197% 197% 197% Fam Play 112% ... 111% 112% G Asphalt. 93% ... 01% 91% In Comb En 58% 57% 58% 57% Int Paper. 59 58% 58% 58% In Harv. 101% 100 160% 159% Loows ... 61% 61 61 % 61% May D Stor 70 % ... 70 % 70 % Mont Ward 67% 67 67% 67% Natl Lead ... ... . . 178% Owen Bot.. 84 82% 83 82% Radio ... 55% 54% 55 54% Rem Type 169 ... 169 170 Real Silk. 47% ... 46% 47% Sears-Roe.. 54% ... 54% 54% TJntd Drug 160% .. 100% 165% USCIP. 222 % .. . 222 % 221 % U S Tnd AI. 82% . . 82% 82 Woolworth 128% 127 128 128 Utilities—, A T and T 159 ... 159 159 , Am Express . . ... 133 Am Wt Wk 77% 76% 77% 70% Brklyn Man . . ... . . 67% Col G and E 85% 85% 85% 85% Cons Gas . 95% 95 95 94% Interboro ... ... ... 18 No Amer Cos 48% 48% 48% 49 - Peoples Gas . . ... ... 130 Phila Cos 01 St G and E 57% .57 57% 57% Wn Union. ... > . . . 150% .Shipping— Am Int Cpn 39% 39 39 39 Am Sand C 4 % ... 4 % 4 % Atlan Gulf 32% I M M pfd. 42 , ... 42 42 % Untd Fruit 120 ... 120 119% Foods— Amn Sugar 84 83 % 84 83 % Am Bt Sug . . ... ... 24 Austin Nieh . . ... ... 7 Beech NPkSB % ... 58 % 57 % Calif Pack 60% ... ' 60% 06 Corn Prods 53 % 52 % 53 52

Produce Markets

Butter (wholesale price)—Creamery best grade, a pound. 52® 56c. Butterlat—Local dealers pay 51@55c pound. Eggs—Strictly fresh delivered at Indianapolis. 19@21c doz. Poultry (buying prices)—Hens, large breed, 23c: Leghorns, 20®21c; roosters and Leghorn stags, 14@15e: stagggy young springs. 15® 18c: soft meated springe. 19@20o: Leghorn springs, 15® 17c: ducks. 17®20c: geese, ll@i2c: turkeys, young toms, 30 @ 32c: hens, 30® 32c: old toms. 25c: guineas. 35c. Bn United Prraa _ , _ CHICAGO. March 11.—Produce: Butter —Receipts, fi.328: creamery. 50®50V4c: standards. 50c: firsts. 48 ®49 Vac: onds. 47® 47 Ms e: extras, 51c. Egg—Receipts. 19.168: ordinaries, 23: firsts. 24® 24 Vic; seconds. 23 Vic; extras. 26‘4c. Cheese—-Twins. 22 Vic: Americas, 24c. Poultry—Receipts. 4 cars: fowls, heavy, 24Vic: small, 28c; springs, 31c: ducks, 32c: geese ,16@18c: turks, No. 1,30 c; roosters. 19c. Potatoes —Receipts. arrivals. 11l ears; on track. 208: in transit, 87$: Wisconsin sacked round whites. s2® 2.10: Idaho sacked russets, [email protected]. Sweet potatoes—sl.7s®2. Bn United Prrsa NEW YORK. March 11.—Flour—Quiet and eays. Pork—Steady; mess. $30.50. Lard—Easy: middle west. [email protected]. Sugar—Raw. quiet: 96 test, 4.90 c: refined, dull: granulated. 6® 6.20. Coffee—Rio No. 7. 15 Vi® 15 Vic: Santos No. 4. 17% ® 18c. Tallow—Steady: specials to extras. 7Vi @7%0. Hay—Easy; No. 1, $1.30; No. 3. sl® 1.15: clover. sl.lo® 1.25. Dressed poultry—Quiet: turkeys. 30®52e: chickens. 20®42c; cappns. 28 ®46c; fowls. 17® 33c: Long Island ducks. 24® 28c. Live poultry—Steady: geese, ll®17c: ducks. 19®30c: fowls, 29®31c; turkeys. 25®300: 22®l 32c: broilers. 45®05c. Cheese Firm: state milk, common to special. 27® 28e: young Americas. 26@27Vic. Butter —Market, easier: receipts. 8.674: creamery extras, 51 Vi ®sl Y. c: special market. 52® 52 %c. Eggs—Firm: receipts, 26.462; nearby white fancy. 33® 34c: nearby state white. 27® 32c: fresh firsts. 24 V. @25 Vie; Pacific coast, first to extras. 28@34Vie: western whites. 26®29#: nearby browns, 29®31c. Potatoes —Long Island, $2.25® 6.25: southern. $8.50® 10.50: tsate. $3.25 ®4.25; Maine. $3.60@5: Bermudas. $6.50 @ls; Pennsylvania. $3.15 @3.40. Sweet potatoes—Jersey, basket, [email protected]; southern, basket, 75c @51.50. Bit United Prraa _ CLEVELAND, March 11.—Butter—Extra. 51 Vic: standard. 50% c. Eggs—Extra. 29Vzc: extra firsts, 25Vic: firsts. 25® 25Vic: ordinary. 23c. Cheese—Brick. 28 @3oc: fancy Swiss imported .40®50c: domestic. 40f(i450: limburger. 34® 35c; York State mild. 30®31e: sharp. 32®33c: new, 28c. Poultry—Heavy fowls range, 20® 31c: medium. 30 @ 32c: Leghorns. 26® 28c: heavy springers. 29®31c: Leghorns. 24® 26c: ducks. 32® 35c: cocks. 17® 18c;. stags. 22@24c: capons, 34c. Potatoes—Round whites. 150-pound sacks Maine. $4.50; Michigan, mostly $3.50® 3.60: New York [email protected]; Idaho russets bakers, 110-pound sacks. $4: Ohio, bushel sacks. $1.35 @1.50: Maine. 2-bushel sacks. $0.65(u 3.75: Florida, barrels, new stock Nm 1. sl7: No. 2. sl7.

Cuba Cn pfd 47 ... 46% 47 Cuba A Su 25% ... '■■> % So Fleisehmnnn 51 % ... 51 % ol % Jewel Tea. 59 % ... ->9 % 58 % Nat Biscuit 106% ... 100% Joo% Punta Aleg ... • •• *3,, Postum . . 98% 98 98% 98% Ward Bk B 28% ... 28% 28% A Sumatra ol % 00% .>O% 50% Amer Tob. . .. ••• ••• Jggjk Cops 8i % 'si 'si% 80% Lfg" f eU garS : 93% '93% '93 % 93$ R°J'lUvnlds 109% ... 10g% J2* Tob Pro B 107% 107 10.% 107 U C Stores 92 ... (? Schulte R s 49% ... 49 49 % mlnleat LOSTBY BULLS Caused by Rapid Break in Domestic, Foreign Drop. Bu United Press CHICAGO, March 11.—Confidence on the bull side of wheat was severely shaken by the rapidity of the break late yesterday, and with, foreign markets lower than expected, opening prices on the Chicago Board of Trade were %c to %c lower than the previous close. Almost ideal weather conditions and the fact that the speculative interest in the market lacks volume are two factors that engendered bearish sentiment in wheat. The trade is also impressed by the increasing receipts in our Northwest and Winnipeg and the persistent selling of futures here by houses with northwestern connections. Corn traders are still divided, but both sides are less aggressive, apparently being committed to nearly their limit for the time being. Opening prices were 14 to *4 lower than yesterday’s close. The decline Increased bearish sentiment to some extent, but there was still many operators who felt that the buying side was in order on the sharp declines. News pertaining to oats was without change and prices opened unchanged to % lower than Thursday’s close. Provisions opened unchanged. Chicago Grain Table —March 11— WHEAT— Prey. High. Low. 11:00. close. May 1.39% 1.38% 1.39 1 39% July 1.33 1.32% 1.32% 1.33% Sent 1.30% 1.29% 1.30% 1.30% CORN— May 76% .75% .70% .76% July 80% .80% 80% SO^i May 45% .44% .45% .45% JU 'lyE—" 43T ’/' >45 % .45 % May 105% 1.04% 1.05 1.05% Ju 'i y Anp ' ' March ... 12.30 12.30 12.32 May .... 12.50 12.45 12.50 12.47 JU, ft V IB S — 1275 12 70 12 75 12 ' 70 May 14.77

Indianapolis Stocks

—March 11— —Stock* Bid Ask Amer Central Life 500 ... Amer Creosoting Cos pfd... 101 104 Ad Rumely Cos com 14 ... Ad Rumely Cos pfd 36 ... Belt R R com 06% 71 Belt R R pfd 67 Cent „'nd Power Cos pfd.... 89 93 Cities Service Cos com 52 Cities Service Cos pfd .... 88 ... Citizen Gas Cos com ...... 50 ... Citizens Gas Cos pfd 106 ... Commonwealth Loan Cos pfd 99 „ . „ Equitable Securities Cos com 61 .. , Hook Drue Cos com 29 ... Indiana Hotel com .120 Indiana Hotel pfd 100 ... Indiana Pipe Line Cos .... 04 % ... Indianapolis Gas 69 ... Indpls & Northwestern pfd.. 50 ... Indianapolis St Ry 39 42 Interstate P Ser pr lien pfd 99% ... Merchants Pub Util Cos pfd.lOU ... Progress Laundry com .... 32 % Pub Sav Ins Cos 16 ... Rauh Fertilizer pfd 48% ... Real Silk Hosiery pfd ....... 98 Standard Oil Cos Ind 69 70 T.H I & E com 2 ... T H I & E pfd 24 T H T Sc L Cos pfd 89 Union Trac of Ind com i Union Trac of Ind Ist pfd .. .. 10 Union Trac of Ind 2nd pfd.. . 2 Union Title Cos com 78 85 Van Camp Pack Cos pfd.... 18 Van Camp Prod Ist pfd.... 90 97 Van Camp Prod 2nd......... 86 Wabash Ry com 71 ... Wabash Ry Cos pfd 93 , —Bank Btock Aetna Trust and Sav C0....116 Ma Bankers Trust Cos ........132 ..„ I .* I "T Farmers Trust Cos .........240 ..... Fidelity Trust Cos 162 ~.„ Fletcher American 170 ... Fletcher Sav and Trust Cos. .260 ~. Indiana National Bank ...208 270 Indiana Trust Cos 230 250 Livestock Ex Bank .......162 ... Marion County Bank 206 ... Merchants Nat Bank 826 Peoples State Bank 186 Security Trust Cos 275 State Savings and Trust.... 86 94 Union Trust Company ... .410 Wash Bank and Tnust C0...168 . —Bonds— Belt R R and Stockyards 4s 90 .... Broad Bipple 5s 79% ... Central Indiana Gas 65.... 08 .... Cent Ind Power Cos 0s 103 ... Citizens Gas Cos 5s 102% 103% Citizens St R R 6s 84% 86 • Home T and Tof W 65... .103 104 Indiana Coke and Gas 6s. .102% ... Indiana Hotel 6s 98% ... Indiana Northern 6s 3 ... jnd Service Corn*6ss!% 111 Ind Union Trac 6s 3 ... indpls Col & So 6s 98 100% Indpls Gas Cos 5s 99% 100% Indpls Lt and Ht 5s 101% 102 Indpls & Martinsville 6s .. 72 ... Indpls Northern 6s . 22 % ... Indpls & Northwestern 65... 72 ... Indpls A 8.8. 6s. 3 Indpls Shelby i9 E i11..,, 2 1.. Indpls St Ry ,4s 63% 66 Indpls Trac and Term 55... 95 90 SSI Bt.n-r:185 ::: Indpls Water 6%g .......103% ... Indpls Water 4Va9 94 k 96 Interstate Public Sen- 65... 102 Interstate Pub S Bs 6V- s. . 104 % THIiESi 82 .. T H T and Lt 6s ......... 93 "I Union Trac of Ind 6s 19 20 —Liberty Bonds—let 3%s 101.20 101.50 let 4%s 103.50 103.70 2d 4% s 100.60 100.90 3d 4 s 10120 101.40 4th 4%s 104.10 104.30 U 8 Tr 4% g 113.00 T 13.40 B S Tr ,i 108.00 108.30 U S Tr 3%s 105.40 105.70 —Sales— 10 shares Indianapolis St. Ry 41

Peppermint Oil

(By Thomson & McKinnon) NEW YORK, March 11.—Peppermint oil —Natural. $4.10@4 20: V. 3. P.. $4.40 @ 4.00. PAPER FROM PEAT MADISON. Wis., March 11.—Extensive plans are under way to market a paper manufactured from peat found in the swkamp lands of Wisconsin. Organization is getting under way, and the commodity probably will be offered in quantities in spring. Wall board and wrapping paper have beep made and experiments are being made on print paper.

THE INDIANAPOLIS TIMES

Price Drops in Spots— Calves ‘Steady Cattle Strong—Lambs Lower. —-Hog Price Range— March. Bulk. Top. Receipts. 4. 11.75 ft 12.15 12.25 4.000 5. 11.654*12.15 12.25 2.000 7. 11.85 ft 12.25 12.35 2.000 8. 11.90® 12.35 12.35 2.000 9. 11.85® 12.25 12.35 6.500 10. 11.85 4912.55 12.50 4.500 11. 11.85 ft 12,2,'. | 12.35 4.500 With the shippers doing most of the early trading and packers not' participating much, the Indianapolis* hog market was generally 10 cents lower today. In spots the drop was 15 cents on the hundredweight. The receipts, 4,500, were the same as Thursday, while holdovers, 20G, were larger. In spite of the Chicago market being strong to 10 cents above the previous best prices, sales at the two centers were at about the same rates. In fact, the early top at the local exchange was higher than at the other market. The bulk of the trading at the Union Stockyards was at $11.85 @12.25, while the top was $12.35, Hog Price Range The highest price was paid on 160-225-pound meat, mostly [email protected], a few in this class going at $12.35. Other rates were: 225-250 pounds, $11.85@12,10; 250-300 pounds, $11.60 @11.90; 300 pounds up, $11.50@ 11.65. No change has been made by pigs and packing sows for a number of days, selling at sl2 down and $lO @10.75, respectively. Cattle prices were fully strong, the run numbering 800. Beef steers went at $8.25@11; beef cows, [email protected]; low cutters and cutter cows, $3.75@ 5.25; bulk stock and feeder steers, $6.75@8. , Steady Market Calf trading was at steady prices. The bulk of good and choice meat went at [email protected]. Rome odd head of best vealers brought sl6. The run counted 900. Sheep and lamb dealing was slow, the market declining 25 to 50 cents. Receipts estimated 700. Top fat j lambs were quotable at $15.50, bulk 1 fat lambs, $13@15, and bulk cull i lambs sß@l2. —Hoc*— Receipts. 4,500 J market lower 90-130 lbs 7 sll.soft 12.00 130-160 lbs 12.00(3 13.55 160-200 lbs. 12.10 ft 12.35 200-250 lbs. 11.80 ft 12.25 250 lbs. up 11.50fti11.90 —Cattle— Receipts. 800: market strong. Beef steers sß.2sft 11-0 O Bulk stoeker and feeder steers 0.75 ft 8.00 Beef cows 5.50 ft 7.50 Low cutters and cutter cows. 3.70<8 5.2 j —Calve*rReceipts. 900: market steady Best vealers $14.50® 16.00 Heavy calves 6.50 @ 9.00 —SheepReceipts. 700: market lower. Top fat lambs $15.50 quotable Bulk fat iambs 13.00 ft 15.00 Bulk cull lambs B.ooft 12.00 Other Livestock Bu United Press CHICAGO. March 11.—Cattle—Receipts. 2.500: market, generally steady: fed steers. $12.70: average weights. 1.4.2 pounds: fe wloads. s9.soft 11.76, according to weight and condition: few loads light offerings downward to $8.75 and below: best yearlings, $11; light heifers. $7.50ft9: some easiness on heavy heifers and heavy cows: most vealers, sloft 11.50: few to outsiders. sl3ftl4. Sheep —Receipts. 9,000: opening slow: fat lambs, steady to 15c lower than Thursday's close: choice handywetght lambs to shippers tipward to $15.50: early bulk wooled offerings. $14.75 ft 15.35: heavy lambs. $14.50 ft 15: good 89-nound lambs. $13.25: culls steady, [email protected]: sheep unchanged: medium and good fat ewes, sßft9: feeding and shearing lambs steady: medium and good kinds. $13.75ft! 14.50. Hog—Recelnts. 24.00: market, very uneven: heavyweights. *1125ftl1.0O: mediumweights $1145.,, 12.10; lightweights. $11.50(512.30: ,'ight lights $11.40® 12.30: packing sows. slo.lsft 10.85; slaughter pigs. $11.40 ft; 12.25. N Bu United Press CINCINNATI. March 11 —Hogs—Receipts. 2,300; steady to 15c lower; 250-350 lbs. sll ft 11.85: 200-250 lbs.. $11,75ft 12 40; 160200 lbs. $12.25ft 12.40: 130-160 lbs.. $12ft12.40; 90-130 lbs.. sloftl2.°s- - sows. 59.25ft10.50. Cattle—Receipts. 450; calves. 400: market, active strong veals 50c up: beef steers. s7.soft 10: light vearling steers and heifers. $7 ft 10: beef cows, $5.50ft’7.50: low cutters and cutter cows. s4fts: vealers. $lO ft 14.50: heavy calves. s6ft9: bulk stock and feeder steers. s6ftß. Sheen—Receipts 100; market, steady: ton fat lambs. 810lambs. sl3ft 16: bulk cull lambs! s7ft! 11; bulk fat ewes. 55ft8. By Times Rnerial LOUISVILLE. March It.—Hogs—Receipts. 800: market, pigs roughs and stags unevenly higher, others steady: top. sl2. Cattle—Receipts, 100; market steady. Calves—Receipts. 200- market steady * :oo< I $10.80012.50; medium to good. sßft 10: outs, $8 down. Sheep—Receipts. 50: market, steady; top lambs. sl2 @l3: seconds. $10.11; sheep. sß@7. Bu United Press PITTSBURGH. March 11—Hogs—ReITL'J? 48 ',. 1 market active, steady: 200350 lbs. $11,754*12.16; 200-250 lbs., H2.L>4r 12.6° : 160-200 lbs.. sl2.4oftt 13 2-. ,6 ° lha $12.75® 12.90: 90P a ,ek ing sows. $lO ft 10.75. Cattle—Receipts, none' calves, 100: market steady: calves 60e higher: beef steers. $9 ft 10.50; vealers. 16. Sheep—Receipti. 500: market, steady- top fat lambs. $16.25; bulk cull lambs. $8 @10.60. Bu United Press EAST BUFFALO. March 11. Hogs— Receipts. 1,600; holdovers. 212: market mostly steady: 200 to 350 lbs.. sl2® 12.50: 200 to 250 lbs.. $12.40ft 12.75- 160 to 200 lbs.. $12.65 ft 12.85; 130 to 160 lbs . $12.65012.90; 90 to 130 lbs„ $12.65 ft 12.8;>- packing sows. $10.75 ft 11.25. Cattle—Receipts. 200: calves. 700; market steady; calves 50c higher; vealers, $15.50 @l6. Shee_p—Receipts. 7,200: market weak to 25c lower: bulk tat lambs. $15.75; bulk cull lambs. sl3@ 13.50: bulk fat ewes. $7 ft 9. Bu United Press TOLEDO. March 11.—Hogs—Receipts. 350; market, lOe lower: top. sll ft 11.50: heavies, $11.65 ft 11.85: Yorkers. sl2 ft 12,50:'g00d pigs. $12.25@ 12.50. Calves —Receipts, light: market steady. Sheep and lambs—Receipts, light: market steady. EUROPEAN PfiICESLOWER Caused by Wider Acceptance of Gold Standard on Continent. By United Press NEW YORK, March 11.—The returning gold standard in Europe is resulting in lowered prices throughout the world and will continue to do so. the Brookmirq Economic Service, Inc., states In a special report. As to the immediate future, restoration of the gold standard in certain European countries will eliminate cut-throat competition, K States. Since this sort of competition serves to depress international price levels, restoration of sound currency will tend to stiffen the price level. As regards the long term outlook gold requirements to serve as bank reserves will increase as the commerce of the various restandardized countries grows, and if gold production continues at a low level the growing demands of commerce will cause gradual appreciation in the value of gold which means falling prices.

Local Wagon Wheat

Local grain elevator# are paying $1.22 for No. 2 red wheat. Other grade# are purchased on their merit#

SIOO a Year for Sweet 16

J*! ‘ ■ -S : 'A - - ' J N -. |

When she was sweet sixteen recently, Margaret Couzens was given a birthday present of SI6OO hy her father, Senator James Couzens, the Detroit millionaire. What did she do with it? Well, she bought a horse, gave her mother a miniature photograph, and donated the rest of the money to tier ehurrh. t.

GAINS MADE DESPITE PROFIT-TAKING WAVE Steel Tonnage Figures Less Significant as Business Barometer Than Formerly Curb Active.

By Elmer C. Walzer Manager United Press Financial Service NEW YORK, March 11.—All financial markets were stronger Thursday, while wheat and cotton prices sank below the previous close. On the stock market the day ended with substantial gains in spite of a mild wave of profit-taking in the last half hour which froced down some of the leaders. Bonds advanced while most of the United States issues sagged, and curb stocks were buoyant, several industrials reaching new high records. , During the morning the market was somewhat cautious as traders awaited publication at noon of the United States Steel unfilled tonnage report for February. A small decrease had been expected and when the figure was placed at 203,000 reduction from the previous month, Wall Street breathed a sigh of relief and trading went ahead with more vigor on the upside. A New Eevel Atchison, leader of the rails held 2% of its rise. Bangor & Aroostook reached anew high for the year. Wabash gained 2% and Lehigh Valley, 3 points. Remington made a 10-point advance in the industrials, closing at its high of the day. Mathieson Alkali was actively dealt in for a rise of 9%. Electric Boat, Youngstown Sheet and Tube, CocaCola, Union Tank Car and Du Pont also moved higher in active demand. U, S. Steel and General Motors were little changed. Wall Street no longer pays such great attention to steel tonnage figures as a barometer of business, it was pointed out, because of the

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TRICES TO RETAILERS FRUITS Apples—Box Apples—Spilzenberg. $2.50 @2.7.>: Grimes. $2.25: Winesaps. $2.75: Staymens. $2.75; Delicious, $3.50 @3.75. Extra fancy barrels—Grimes, $4: Rhode Island Greenings. 54.50: Cherry Red Baldwins. $3.75: Rome Beauties. $4.50; Ben Davis. $4.50: Virginia Winesaps, $6: Delicious, $7: New York Kings. $4.50: New York Baldwins. $4 (and 4.25: York Imperials. $4. Fancy bar>-els—lndiana Jonathans. $4: Indiana Staymens. $3.75: Winesaps. $4: Baldwins $3.75; Rome Boautips. $3.75® 4; Now York Baldwins, $3.50: Delicious. ss,f>o. Basket apples (401 b. lott—Jonathans. $1.75: Grimes. SI .50: Staymen Winesaps. $1.50; Delicious. $1.75; Baking. $1.50; Wagners. $1.35: New York Greenings. $1.50: New York Kings. $1.50: Baldwins. sl.2sSi 1.50. Bananas (jobing price)—3Va@se lb. Cranberries—Jersey Howes, hall bbl.. $3.50® 4. Grapefruit—Extra fancy, $4.59 @5: fancy. $3.50®4, Lemons—California. $4.25®5. Oranges—Florida. $4.50®4.75: California navels, extra fancy. [email protected]: ianey $4.25 @5.75. Strawberries —Florida. 50c qt. SEA FOODS Oysters—Gal.. [email protected]. VEGETABLES Artichokes—California. $1.50 doz. Asparagus—Gevria. $1 bunch. Beans—Florida green. $6 hamper Brussels Sprouts—Fancy California. 30c pound. Cabbage—Holland seed. 2Vic lb.: new Texas. 3V4c. Cauliflower—Crate, [email protected]. Celery—Florida, 4@6-doz. crate. $3.50; 8® 10-doz. crate. $3: Mammoth (washed). $1 doz. Celery Cabbage—Box. $2.25. Cucumbers—Hothouse. $2.75 dozen. Kggnlant—Florida. $3 per doz. Endive—Louisiana. S3 bbl. Garlic—California. 12Vic lb. Kale—Virginia Brocoli. $1.86 bbl. Lettuce—lceberg, crt.. $4; H. G. hothouse, $1.50 15-lb. basket. Mangoes—Florida peppers. $6.50 crate; $1.75 peck. Mushrooms—Pennsylvania. $1.50 @1.75 for 3-lb. basket. Onion.i—H. G. yellow. 100 lbs.. $3.25; Spanish, crt.. $1.85: Indiana white $2. Onion Sets—Red and yellow. 2 bu.. $5: white. 2 bu„ $7.50: Texas Bermuda plants. 5.000-crate, $0.60. Oyster Plant—H. G.. 50c dozen. Parsley— H. G„ 60c per bunch: southern. 75c doz. Peas—Mexican telephone. $6 crate. Potatoes—Michigan whites, 150 lbs„ $3.85: Russet buroanks, 150 lbs.. $4.25; Red River Ohioe. 120 ibs.. $3.75: Idaho Russets, 100 lbs.. $3.75: Idaho bakers. 6070s. $4: New Texas triumphs, $4 hamper. Seed potatoes—Maine cobblers, 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. ,65c. Root vegetables—Turnips. bu.. $1: parsnips, bu.. $2: carrots, bu.. $1.50: Louisiana carrots. 90u doz.: Canadian rutabagas. $2 swt.: H. G. beets, bu., $1.50: Texas beets. $2.25 bu.: Louisiana beets. 90c dozen. Shallots—Louisiana. 75c doxen. Spinach—Texas. $1.75. Sweet potatoes—lndiana Jersey. 52.25 bu.: Nancy Halls. $1.35: Indiana mediums. $1.50. Tomatoes—Six-basket crt.. 55.50Q6.50.

changed buying methods. There is also an advantage to the lower forward tonnage just now in that unfilled orders arc at lower prices than present levels, hence new orders for immediate delivery will net the corporation more. Bonds Attractive In the bond market traders were loath to purchase heavily of United States issues, now that prices have advanced to levels\vhere yields are at a minimum. /This advance in Liberty and Treasury issues made other bonds look more attractive, and the prices in the security list appreciated in good form. Interest was by no means lacking in the Government issues. Treasury 4%s reached anew high level with a substantial gain, pnd second Liberty 4*/*s turned over more than $2,000,000 par value. Mast of the other issues sold slightly under .heir high levels of the previous session. Incidentally, Secretary Mellon announced that the new issues of the Treasury had been oversubscribed three times and that a rush was on hy holders of second 4%s to exchange for the new five-year 3%5. On the curb market a demonstration was staged by Vacuum Oil, which imparted a stronger tone to the oil shares. Industrials were higher, with a few exceptions, including Estey Welte issues, which were driven down several points. Foreign exchange was steady, with pesetas the feature. INCOME TO BE LOWER Figure Will Bo I/iss First Six Months of Year Than in 1926. By United Press NEW YORK, March 11.—Primary income during the next six months will be slightly Jower than in the corresponding period of 1926, the Brookmire Economic Service, Inc. predicts in a study of business conditions. Asa result the volume of trade will not continue much longer making new high records. An increase is reported in mining income over January, 1926, owing to great activity in coal and oil, and a seasonal expansion in general business is anticipated this spring. These increases, however, are not expected to offset the lower farm' Income, a decrease in building activity and business profits, and an anticipated decline in industrial employment which will probably not reach last March's high, when factory pay rolls amounted to $1,158,000,000. COTTON DECLINE OFFSET Increased Textile Activity Makes Up For Drop. Bu Times Svecinl NEW YORK. March 11.—The effect of the drastic decline in cotton prices will be felt throughout the South*, the Brookmire Economic Service, Inc., reports in a farm income bulletin, but the most serious effects will be In the central part of the cotton growing area. In the eastern portion of the southern States, however, increased textile activity will partially offset the had effects of low cotton prices. In the petroleum producing and refining areas of the Southwest and the seaport towns business in 1927 should compare favorably with the average of the past few' years. BECOMES INTERVENER Bit United Press WASHINGTON. March 11.—An order perpilttlng the Detroit & Mackinac Railway to become an intervener in the application of the Chesapeake & Ohio Railroad to acquire consol of the Erie and Pere Marquette Railroads, the latest Van Sweringen merger move, was entered today by the Interstate Commerce Commission.

PETITION WRIT TO OUSTDEMH (Continued From Page i>

Delaware Circuit Court. It has been reported the bar was planning to seek a mandate in the circuit court at Indianapolis, forcing Governor Jackson to name a judge pro-tem. State Representative Lawrence Carlson of Huntington an ived there this morning and went into Immediate conference with Prosecutor Joe 11. Davis. Carlson went over the data which Davis presented to the House which contributed to the Judge's Impeachment on charges of suppression of the press and jury irregularities. Judge Dearth struck hack at Attorney Miller by attempting to seek Ills disbarment. Evidence submitted in a habeas corpus suit in the Delaware Circuit Court prompted his action against Miller, Dearth said. Attorney for Youth According to the evidence. Miller was attorney for Forest Feymer, Muncie boy convicted of contributing to the delinquency of a Yorktown girl. He was convicted In Judge Dearth’s court and sentenced to the State penal farm. An appeal to the Indiana Supreme Court was taken by Miller and the decision was later affirmed. Feymer was placed in jail on Feb. 16. last, the court said, when Miller appeared before Judge Dearth and told him that sureties on Feymer’s bond wanted to he released. “They are afraid he will run hway,” Judge Dearth quoted Miller as having told him at that time. One of the sureties on the bond appeared In court Thursday and denied that he had asked that such action he taken, while it was learned the other surety Is now dead. Mother on Stand Feymer's mother, on the witness stand in the action to bring about the release of her son from jail, testified that Miller called at her home and demanded S3O to "fl* it with Ewbank to get the boy out of trouble.” She refused to pay him the money and told him that she would take no part in it. “If that’s the way you feel about it, all right,” Miller said, according to her testimony. Questioned by Prosecutor Davis, Mrs. Feymer said that the name of Richard L. Ewbank, a brother of the former Judge of the Supreme Court, had been mentioned hy Miller but that lie had also mentioned the name of the judge. “Bribe Serious” “Mr. Miller misrepresented this to me and his assertion that he 'would bribe Judge Ewbank is serious. The Supreme Court Is not made up of that kind of men,” Judge Dearth declared. Feymer was represented at the hearing by Wilbur Ryman, Dearth’s lawyer in the impeachment proceedings. Dearth asked that the Muncie Bar Association investigate the matter and ordered a transcript of the case be given the president of the association. Miller was not present to defend himself, but said today that he had letters from Richard L. Ewbank, Indianapolis lawyer, whom he had en-

Globe Store Purchases Capitol Sales Cos., 129 W. Washington St. Balance of Stock Purchased by the Capitol Sales Cos. From the RECEIVERS 11113 THIS ENTIRE STOCK MUST BE SOLD! —Following are ju*t a few of the hundreds of bargains!—DOOßS OPEN PROMPTLY AT 8 A. M. TOMORROW—BE HERE! WITHOUT FAIL! Men's 20c Men’s 10c to 20c “Arrow” Dress COLLARS SOCKS ! Wanted color* s all -lie*. Broken lot* hut all *lze*-aiiil While they lint—styles In the lot.. Oot they ... _ a - , 5c Pair 3c Each ■*■—■—J MEN’S $lO and sl2 Men’s $2 and $3 and ARNOLD Glove DRESS SHIRTS —Guaranteed full cut and f*! C Jf" fast color; if tli y fade n new m shirt free. Also other line makea. $1.09 $5.85 Men’s 523.50 to $47.50 Tailor-Made SUIT S*lo-J5 Spring colors and patterns. These tine B garments. Ineluding "Society llrand” and *® "Clotheraft" suits, etc., go at— ■I Hi $16.95 13 MEN’S ATHLETIC | MEN’S $1.95 & $2.95 UNION SUITS [ WORK PANTS —Good quality nainsook t ■ .. , . spue tally reinforced shoulder. | color*, and crotch— ■ A, ‘ 3 for SI.OOII $1.29 [ GLOBE STORE SuccesMort to THE CAPITOL SALES CO. 129 West Wash. St. Opposite New Indiana Theatre

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gaged to prepare a motion for a re-* hearing In tho case that would clearhis name. EWBANK EXPLAINS Said He Charged Miller SSO (or Supreme Court Brief. Richard L. Ewbank. local attorr ncy, said he prepared the petition for rehearing in both the Supremo and Appcllato courts in the case of Forest Feymer, of Muncie. chargedwith contributing to the delinquency of a Vorktown girl. “I prepared petitions Jor rehearing In both courts for Thomas Miller,” he said. "The petitions were filed last July but tho Supreme Court did not act until last February and at that time did not meet any of the questions in tho brief. "I told Miller my work. In that case, was worth SSO. I told him I had done the work and It was worth at least $23. He paid the $25 telling me it was out of his own pocket. "I had asked him to get from $25 to SSO for the work, suggesting that 1 get $25. “No doubt, he went to the boy's mother seeking the SSO amount to pay me.” The Trans-Siberian railway, running from Tchellabinck to Vladivostok—4,77l miles —Is the world’s longest railway. CLOTHESLINE THIEVES BUSY Clothing and Table Linens Stolen, Police Are Told. A thief who took kindly to thS ease of removing clothing from clothes lines, gained $165 in loot late Thursday. Mrs. W. F. Culver, 738 Congress Avc., said two suits of her son's clothing, valued at SBO, were taken. Mrs. Jerry Vlvoda, 2631 W. -Walnut St., said she hung a valuable hand worked table cloth, valued at $75. on the line and It disappeared. Morris Jensen, 3490. Birchwooij Ave., said a back window was pried open and clothing, a watch valued at S6O, anti food wore taken. Break.--Ins were reported hy Floyd E. Wil lianiHon, 316 N. Gladstone Ave., ami Charles Kirkhoff, 4740 E. Washington St. A. Owens of the Pyper WatchCompany, 17 Jackson PI., said a man who represented himself as a railroader, purchased s $65 watch and gave a fictitious name. LEWIS BOOK SELLS FAST First Supplies of “Kltner Gantry" Exhausted In Kansas City.' Bu United Press KANSAS CITY. Mo., March 11.— Kansas City ministers commented so freely both for and against “‘Elmer Gantry,” Sinclair Lewis’ latest novel, that the Interested public bought three-fourths of the Initial supply in Kansas City book stores and news stands yesterday and absorbed all available copies In the revolving libraries. Several book stores reported sales of as high as twenty-five copies during the first business hour yesterday morning. The depleted supply Is expected to be completely exhausted today.