Indianapolis Times, Volume 38, Number 299, Indianapolis, Marion County, 23 March 1927 — Page 15

MARCH 23,1927

PORK MARKET TURNS STRONG TO HIGHER

STOCK EXCHANGE HAS DEMAND FOR LEADERSOF LIST Car Loading Record Proves Break Not Indicative of Business Conditions.

Average Stock Prices

Average of twenty industrials Tuesday was 158.41. off 2.40. Average of twenty rails was 126.93. off 1.18. Average of forty bonds was 97.04, up .02. Bil United Press V NEW YORK, March 23.—Any idea that Tuesday’s sharp decline in stock prices bore any relation to business conditions was completely dissipated by freight traffic statistics for the week ended March 12. Not only did car loading rise above the million mark practically two months earlier than in any other year on. record, but the increase of 39,920 cars over last year was only accounted for by heavier coal shiplhents. This evidence that merchandise and general loadings were runahead of last year completely |ftssipated fears that trade as a whole was slipping. Absorb Main Issues In connection with testimony of the bond market that investment securities are adjusting themselves to a lower yield, the general prosperity of the country as reflected in the volume of freight traffic was taken by most observers as indicating no prolonged reaction in stock prices was in prospect at this time. This belief brought active demand for standard stocks early, which steadied the list against the liquidation of impaired marginal accounts necessitated by yesterday’s extensive setback. Offerings of Steel, General Motors and other industrial leaders were well absorbed, while rails were strengthened by a further uprush in D., Li. & W., which*ran up 6 points to 172, anew high since 1921. Wholesale Housecleaning Stocks were thrown overboard in tremendous voluriie in the late morning, giving a weak tone to the whole industrial list. It was evident that housecleaning was proceeding on a wholesale scale in stocks in which unstable long accounts existed, ’ftie early erratic character of the shakeout In General Motors and other speculative leaders indicated that the technical condition had been strengthened and this was borne out by .1 rally in noon dealings. General Motors rebounded 2 points to 173& and other volatile issues came back to support it. Steel common, Which held better than any K.re of its class, continued to act n-essionafely. Buying was attributed to a strong group which was. said to be working to estabilsh •; new high before the end of the week. Steel's previous high was 1 G4 5 4_.

Banks and Exchange

—March 2.3 INDIANAPOLIS STATEMENT Local bank clearing’s were $3,203,000: debits, $6,077,000. NEW YORK STATEMENT Bv United Pretja . NEW YORK, March 23.—Clearings. $1,030,000,000: balances. $122,000,000. * FOREIGN EXCHANGE Bu United Press _ NEJV YORK, March 23.—Foreign exchange opened steady. Demand sterling, $4,85 3-16: franc, 3.91 %c: lira, 4.6oy a c; belga, 13.89 c: marks, 23.71 %c. CORN ACREAGE IS CUT Survey of Indiana Farms Shows 5 Per Cent Reduction. Bu United Press \ LAFAYETTE, Ind., March 23. Indiana farmers are plarfhing to reduce their com acreage 5 per cent this year, according to results of a survey made by statiscians for the United States Department of Agriculture and the Purdue University agricultural experiment station. The survey showed the potato acreage will be 10 per cent larger and ihe oats acreage 2 per cent larger. The barley acreage will be 10 per cent greater and the tobacco planting per cent less than a year ago. ™An increased sowing of 60 per cent in the barley acreage, 1 per cent in the hay acreage, and 100 per cent in the spring wheat acreage. Since the spring Wheat crop in Indiana is small, the increase in the acreage is of no particular significance. EXPECT GOOD MARKET Bright Outlook for Copper Trade Seen in Western Europe. Bu Times Special , NEW YORK. March 23.—Industrial rehabilitation in western Europe, along with railway, mining and utilities developments in other parts of the world, will bring an enormous market for copper in the next five years,- the Brookmire Economic Service, Inc:., states in a study ot' the copper industry. Iu the United States continued growth of the electrical industry is offsetting the decline in demand for copper from the automotive and building industries, and in Great Britain and Germany stabilization of industry to expand consumption. For the immediate future production is ample, as the industry is operating on the basis of large production for a low priced market. *

v Peppermint Oil

t(By Thomson & McKinnon) EW YORK, March 23.—Peppermint Jgatural. $4.1004.20: U. S. P„ $4.40

Local Wagon Wheat

Local grain elevators are paying- $1.16 for No. 2 red wheat. Other grades are purchased on their merits.

New York Stocks 'By Thomson & McKinnon) - 1

—March 23 Railroads— Prev. High. bow. 1 .00 close. Atchison .. 177 % 175% v 177% B. 312112% ll|| e. an & p o::::loI u>o C. &N. W.. 81% sou 81 81H Z-titJ:: tig $1 M 1 P D & Lack. 172% 168 171% 100 Erie lsV pd 54 'M Gt No pfd. 85% So % 85 U 8. /S Lehigh V. 11 o% .• • tl;} 115 K C South 49's 48% 4J M. T. - 37% ‘jjgji ;*7Ji '/? M Pac pfd 100 U ,00 i- 00 % 99% N Y Con.. 142% 140% lb-% 141 s NY NH&H 48% 47% 48 48 , 4 No Pacific. 85% ... 84% 8o Nor & W.. 173% 172% 173 - % Pere Marq 118% --a sc. isi 1 ’ mk ar an :i|r; il% ii>l h iio% inf: l * l\ Svfd hi ? 'so,, 20% St L&S W 69 68 1 69*4 69 SL & S F.lll 110% .110% 111 Union Pac 166% 100% 100 V; lOgjil Wabash .. 70% 08 69% 09% Wabash pfd 93 % m oo 93 % 33 ' Rubbers — ... M Ajax 11% U 11% 11 Fisk 18 . !' 4 I® Goodrich... 53% 2J4 jf % Gdyr pfd. 104 103% l?!’-? Kellv-Spg... 19 17 % 18 •■< I<;% U Sltub.. .•60 % 60% 60% 60% Eiiuipments— , , ~ Am C& F 102 ... R/ 101% lf>l% Am Loco 110 109% 109--4 110 Am Stl Fd 44% ... 44% 4o Bald Loco 180% 176% 177 1/8 Gen Elec. 84% 83% ‘84% 84 r Lima .... 66 % ... 06 % 66 % N Y Airb.. 44% .. . W 43% 44 P Steel Car 58% 57% 07% 08 Pullman ..176% ,•• J 70%. 1/6 Ky Signal .106% 103% 30,> 195,, Westh A B 150% 149% 149% 140% Westh Elec 75 74% /4% /4/j Bethlehem. 49% ■i ■ vs 49 Colo Fuel.. 57% ; >6% 67 o 7 Crucible .. S/% 80% 87 S' ' Gulf St Stl. 58 ... 67% 58% P R C & I. 42 % - 42% 42% 42% Rep Steel.. 70% 69% <0 70 Sloss Sheff ... , Jj> U S Steel .163 161% 162% 102%' Alloy ~?% Vanadium. 46 ... 40% 4j Am Bosch. 34% ... 14% 14 Vs Chandler .. 24% 24 24 ~4 Chrysler .. 40% 38% 39 40 % Cont Motor 11% .... 11% 1) % Dodge .... 21% 20 20 -1 % Peerless . . . 26 2o % 26 26 Gabriel ... 30% ... .30% .30% Gen Motor 174% 3.70% 173 174% Hudson ... 70% 66% 68 70% Hupp 21% ... 21 21% ■Tordan ... 18 ... 18 17% Mack ... 103% ... 102% 103% Martin Par 20 ... 20 20 Moon 8% ... 8 % 8%Nash 63 % ... 62 % 64 Packard . . 35 % ... 34 % .35 % Pierce Arw. 20 ... 19% 19% Studebaker. 50 % ... 49% 49% Stew Warn 58% 57% 58 58% Timken ... 85 83% 84% 84% Willys Over 21% 21% 21% 21% White Mot. 50% 50 50 _50% Mining— Am Smelts 145% 144%’ 144% 145 Anaconda . 46% 46% 46% 46% Chile Copper 37 % 37 % 37 % 37 % Inspiration... ... ... 10 % Int Nickel .40 ... 39 % ... Kenneeott . 62% ... 62 % 62% Tex G& S. 60% 59% 60 60% U S Smelts 39 ... 39 38 % (*!s— Atlan Refs 109 .. . 107 108 % Cal Petrol. 27 % ... 27 27 % Frecpt Tex 50% 54% 55% 56% Houston ..97 94 90 94% Ind 0i1.... 24 % ... 24 % 24 % Marland Oil 50% 49% 49% 50% Mid-C Pet. 34% 34% 34% 34% Superior O . . . ... ... 4 % n A , P ATT’ 61 V* 61% 61% 61% Phillips P.. 49% 49% 49% 60 Union Oil. . 44 % ... 42 % 44 % Pure Oil. . 28 % 28 28 % 28 % Royal Dut. 50% ... 50% 50% Shell . 28 % 28 28 % 29 % Sinclair ... 17% ... 17% 17% Skelly ... 30% ... 30 % 30% S Oil of C.. 55% 55% 55% 55% S Oil of N J 37% ... 37 37% Tex Com. . 48 47 % 48 48 % Trans Pet. 4% ... 4% 4% Industrials— Ad RumeJy 14 ... 14 13% Allis Chaim 94 ... 94 84 Allied Ch. 139% 138 139 138% Arm (A).. 12% 12 12 12% Amer Can. 46% 46 46% 46 % Am Wool.. 20% 20% 20% 19% Am H&L pd 49% .... 49% 50 Am S R*z. 67% 56 67% 65 Cen Leath 9% ... % 9% Coco Cola. ... * 189 ■ Cont Can 03% 63% 63% 03 Certainteed ... ... . 451s Dav Cliem. 27% ... 27% 27 Dupont .. 204% 203 204% 203% Fpm Play 2 09% 108% 109 108 4? G Asphalt. 84 83% 83% 83% 111 Comb En 49% 48% 49% 419 Int Paper. 56 . . 55 sr, 14 hit Harv. 153 152 162 162'/a ... 59 % 68% 58% 59% May Dpt 9 . . . ... . mi t; Mont Ward 66% 65% (if! '* Natl Lead 193% 192% 192% 194 Owen Bot. ... ... . 81 Radio . 61% 49% 50 31% Rem Type ... ... ... 109 % Real Silk.. 45% ... 45 46 Sears-Roe... 54% 54 54 64% Untd Drug l ... .. ITSCI P .209 . . . 208 209 G US Ind Ale 71% 69% 71. 70% Woolworth 127% 126 127 120 Itilitipf* —r A T and T 162 161% 161% 162 Am Express . . ... .. 131 Am Wt Wka 77% 77 77% 77 Brklyn Man 66% ... 66% 66% Col G& B. 83% ... 83% 83% Cons Gas . 97% 96% 97 97% Interboro . 46 % ... 46 % 4 e(i No Amer Cos 47% ... 475? 47% Peoples Gs i29 ... 129 129 Phila Cos .... ... int 11 St G and E. 56 ... 55% * Wn Union .148% ... 148% 147% Shippins— Am Int Cpn .. ... . 97 11 Am Sand C 3% .. . '3if, 4 72 Atlan Gulf. 32% ... 32$ 3314 IM M pfd .39 ... 38 % 38 % Untd Fruit , joi* Foods— Amj|Tus\ 81% . 81% 81% n N Ni pT:. ;.** 2 ,% Calif Pack. 64La 64% c°™ Prods. 54% 54% 54% 54% Cuba Cn pf. 40 ... 39 % 40 *

Commission Row

PRICES TO RETAILERS FRUITS —Box apples—Staymens. $2 75 • Winesaps. $3.7.>: Delicious. $3.50 iff 3 75’ xii- r ßh fa 1 nC ? i ba V r ?) ap P les Winesaps.' $b Rhode Island Greening’s, $4.50: Cherry *£<l Baldwins. $3,76: Rome Beamier J-LSO. New York Kings. $4.50: New York Baldwins. $4 If? 4.25; York Imperials. $4; Stay-mens, $4.00; Ben Davis, $44.50. Fancy r a A ,DI UT; Staynl ? , i, s ’ 55.75: Winesapg, f4@L6O: Baldwins, $3.75: Rome Beauty. $3.75@4; New York Baldwinsfi $3.50; Ben Davis, $.1.70. Basket apples (40-lb. baskets)—Staymen Winesaps. SI.6C: Delieo B ** 1 ’ 75 ' Romes, J 51.50: fancy Romes. $2: Winesaps. $2: Wagners. fM..35: New i°r k A Grecnhigs, $1.50; New York King#. $1X)0: Baldwins, $1.25: Staymens. $1.75. Bananas (jobing price)— 3% 05c lb. —Jersey Howes, half bbl. . Grapefruit—Extra fancy, $4.500 5: fancy, $3.50@4. Lemons—California. $4.50 0 5. .Oranges—Florid.,, *3.2604.25: California navels. extra fancy. $4.75@6; fancy. [email protected]. Strawberries—Florida. 40045 c qt.: SB, 24-qt. case. VEGETABLES Artichokes—California. $1.50 doz buniraf7^. Ge ° rgia ' C,ate ’ Ss ® 7: Beans—Florida green, 36- hamper. Brussels Sprouts—Fancy California. 30e pound. Cabbage—Holland seed, 2c lb.; new Texas. 3Vj c. Cauliflower—Crate, $3. Celerv—Florida, 400-doz. crate, $3.75: 8 010-doz. crate, $3.50: Mammoth (washed), $101.25 doz. Cucumbers—Hothouse, $2.75. Eggplant—Florida, $2.50 per doz. Endive—Louisiana. $2.50 bbl. Garlic—California. 12 %c lb. Kale—Louisville bags $i .50. . Lettuce—lceberg. crt.T $3.5004; H. G., hothouse. $1.65 15-lb. basket. Mangoes—Florida peppers. $4.50 crate; $1.50 peek . Mushrooms— Pennsylvania. $1 6001.76 for 3-lb. basket. Onions—H. G. yellow. 100 lbs.. $3.76: Spanish, ert.. $2 0 2.25. Onion Sets—Red and yellow. 2 bu.. $5; white. 2 bu.. $8.50: Texas Burmuda plants. 5.000-crate, $5.60. Oyster Plant—H. G„ 60e dozen. Parsley—H. G.. 60c per bunch: southern, 75e doz. Peas-r-Mexican telephone. $7.50 crate. Potatoes—Michigan whites, 160 lbs.. $3.6.0: Russet Burbanks. 150 lbs.. $4.25: Red River Ohios. 120 lbs.. $3.50: Idaho Russets. 100 lbs., $3.75; Idaho bakers. 60-70 g, $4. Triumphs. $4 hpr.. Seed potatoes—Maine cobblers. 150 lbs.. $6.00; Red River Early Ohios. 120 lbs.. $3.75; Bliss Triumphs. 150 lbs.. $6; Early Rose, 150 lbs.. $4. . Radishes—Southern lone reds. 300 36c: hothouse buttons. $1.25 Rhubarb—H. G.. 5 lbs.. 50@85c. Root vegetables—Turnips. bu, 90c; parsnips, bu.. $1.75; carrots, bu.. $1.50: H. G. beets, bu.. $1.50: Louisiana beets, 90c dozen. „„ . Shallots—Louisiana, 60c dozen. Spinach—Texas, $1.50., Sweet potatoes Hal's. *1.35; Indiana mediums. —Six-basket crt„ f3.6006.60.

Cuba Am Su 23% ... 23% 24 Fleischmann 50 ... 49% 49% Jewel Tea. 67% ... 57% 57% Nat Biscuit 106% ... , 105% 3 06% Punta Ale 39 % ... 39% 36 Postum .. 94% 93% 94 93% Wd Bk (B) 23% ... 22% 23% Tobaccos— Am Suma. 49% ... 49% 50 Am Tob. . 125% ... 124% 126% A Tob (B) 124% ... 124% 124 % Cons Cigars 78 77% 77% 78 Gen Cigars ... . ... *54 Liggett ... 95 % ... 94 % 9o % Lorillard ..28 ... 28 28 R J Rev.. 109% ... 108% 109 Tob P Hi) 105% 104% 105% 105% U Cig Stor 88% 87 88% 87% Schlute RS4B % ... 48 % 48 % FRACTIONAL CUT AT GRAIN OPENING No Investment Buying In Wheat at Chicago. Bit United Press CHICAGO, March 23. Drastic liquidation which caused a decline of about 10 cents from the recent high point of all deliveries of wheat to new low levels on the crop failed to bring any new investment buying and prices opened % to % cent lower than yesterday’s close on the Chicago Board of Trade today. Liverpool was % to 1 cent lower, which was about as expected in view of the sharp drop here yesterday. The drop in corn prices from the recent high point has been about 6 cents and local operators are of the opinion that the end of the decline i snot yet in sight. Opening prices ‘were % to % cent lower than the previous close. Light receipts are maintaining firm cash prices, but heavy stores of old corn on hand here, together with the poor Shipping demand, continue as a drag on futures. Oats opened unchanged to % cent lower than Tuesday’s close. This cereal continues to trail other grains. Provisions opened steady. Chicago Grain Table —March 23 WHEAT — . Prev. High. Low. 11:00. close. May 1.32% 1.31% 1.31% 132% July 3.27% 1.26% 1.27 1.27% Sept 1.26 1.25 1.25 1.25% May . 72% .71% .71% .72% July 77 .76% .76% .77 Sept 80% .79% .80 .80% OATS*- 1 * May 42% .42 .42 .42% JU ItYE—' ■' 431,4 42 % -43% May .77... .97% .95% .96 .98 July 95% .94% .95 .90 LARD— Mar 12.30 12.30 12.35 May 12.47 12.37 12.47 July 12.92 12.88 12.70 RIBS— May 14.65 14.05 14.65

Indianapolis Stocks

.-March 23 —Stock*— Bid. Ask Amer Central Life ......500 .... Amer Creosoting Cos pfd... 101 10 Ad Remt’ly Cos com 13% 14 Ad Rumely Cos pfd 3o 36 Belt *. R com 6 70 Beit R R pfd 57 ... Cent ind Power Cos pfd .... 89 90% Cities Service Cos com 51% ... Cities Service Cos pfd 90 ... Citircns Gas Cos coni 50 ... Citizens Gas Cos pfd. ..... . 106 ... Commonwealth Loan Cos pfd 99 .... Eau’table Securities Cos com 61 ... Hook Drug Cos com 28 % ... Indiana Hotel com ...... 120 . Indiana Hotel pfd Indiana Pipe Line Cos 64 V 4 ... Indianapolis Gas 58 ... Indpls & Northwestern pfd.. 50 . Indianapolis St Ry 39 41% Interstate P Ser pr lien pfd/99% ... Merchants Pub Util Cos pfd.lOu ... Progress Laundry com .... 22 % ~. Pub Sav Ins Cos 16., Rauh Fertilizer pfd 48% Real Silk Hosiery pfd .. 100 Standard Oil Cos Ind 66% ... T H I& E com T H I & E pfd 21 T H T & L Cos pfd 89 .... , Union l'rac oi hid com 1 Union Trac of Ind let pfd .... 10 Union Trac of Ind 2nd pfd.. 2 Union Title Cos com 81 >... Van Camp Pack Cos Dfd.... i ... Van Camp Prod Ist pfd..., 90 97 Van Camp Prod 2nd , 95 WabaAh Ry com 69 % ... Wabash Ry Cos pfd 93 ... —Bank Btork Aetna Trust and Sav C0....115 Bankers Trust Cos 132 ... City Trust Cos 140 Continental National 116 .... Farmers Trust Cos 240 ..■• Fidelity Trust Cos 162 .... Fletcher American 170 ... Fletcher Sav and Trust Cos. . 280 ... Indiana National Bank .. . 268 272 Indiana Trust Cos 230 250 Livestock Ex Bank 162 Marion County Bask 210 ... Merchants Nat Bank 326 Peoples State Bank 186 ... Security Trust Cos 275 ... State Savings and Trust ... 86 9o Union Trust Company ..-..410 ... Wash Bank and Trust C0...158 .... —Bonds— Belt R R and Stockyarfls 4s 90 ... Broad Ripple 5s 79% ... Central Indiana Gas sk. ...88 ... Cent Ind Power Cos 6s ....100 .. Citizens Gas Cos 5s 102% 100 Citizens St R R 5s 85 86% Home T and T of W 65.... 103 104 Indiana Coke and Gas 6s. .102% ... Indiana Hotel Bs 98% ... Indiana Northern 5s 3 ... Ind Ry and Lt 6s 96' ind Service Corn 6s 92% ... Ind Union Trac 6s 3 ... Tndpis Col & So 6s 98 100% Indpls Gas Cos 5s 99% 100% Indpls Lt and Ht 5s 101% 102 Indpls & Martinsville 55... 74% 76 Indpls Northern 5s 23 % 25 % Indpls & Northwestern 55.. 74% 76 Indpls & S. E. 6s 2 indpls Shelbv & S E 6k 2 Indpls St Ry 4s 63 65 Indpls Trac ami Term 55... 95 96 Indpls Union Ry 6k.......101 ... Indpls Water Wkg Sec C0..100 • .. Indpls Water 5 Ws 103% ... Indpls Water 6%s 103% 106 Interstate Pub S Bs 6%5..102 ... Interstate Pub SBs 6%5..103% ... T H I & E 6s V . . 85 T H Trac and Light 55.... 95 ... Union Trac of Ind 6fe 19 20 —Liberty Bonds—--Ist 3%s 101.00 101.-20 Ist 4% s 103.40 103.60 2d 4% s 100.50 100.70 3d 4%s 101.00 101.30 4th 4%s 104.00 104.14 U S Tr 4% s 114.50 114.80 U STr 3%k 108.60 108.90 U S Tr 3%s 105.80 106.00 U S 8r 3% s 99.80 100.20

Produce Markets

Butter (wholesale price)—Creamery best grade, a pound. 49@01c. Butterfat—Local dealers pay 48 @ 49c, a pound. Eggs—Strictly fresh delivered at Indianapolis, 20021 c. Poultry (buying prices)—Hens, large breed, 210 23c; Leghorns. 38@lilc: roosters and Leghorn stags. 14 015 c: staggy young springs, 15© 18c: soft meated springs, 200 21c: Leghorn springs, 15© 17e: ducks. 17 0 20c: geese. 11012 c; turkeys, young toms. 30 0 32c: old toms. 25c: hens. 30032 c: guineas. 35e. LIBELS TOWN MIAMI, Fla., March 23. —“Selling out. Going back north where men are men and rents are reasonable.” That was the sign that B. Lewis Kaufman placed on his novelty store here. Irate real estate men caused his arrest. A judge said Kaufman had insulted Miami, and sentenced him to ten days in jaiL

THE INDIANAPOLIS TIMES

Varied Price Changes Take Place in Other Livestock Trade. 9 —Hog Price Range— March. ”* Bulk. Top. Receipts. 3 6. 11.65 @12.35 12.25 4,500 17. 11.40 @12.00 12.00 5.000 18. [email protected] 12.00 3.500 19. 11.95 //yl 1.90 11.00 1,500 21 / 11.45 @ 12.00 12. to 1.500 22. 31.40@ 12.00 12.15 5.000 23. 11.40@ 12.00 13.15 5.000 Early sales in the hog nmrket at the Indianapolis stockyards today were mostly steady, in spots strong to higher. Becoming more established, tiie general tone of the market was steady to 10 cents higher. Five thousand porkers were received, the same Is Wednesday. Holdovers from that day were 222. The major portion of the trading was at $11.40@12 per hundredweight, the top remaining at $12.15. At Chicago, the chief competitive market, prices were strong to 10 cents higher, the two centers moving practically in unison. Hog Price Range Dividing the day’s offerings into three weight classes the prices were: 160-225 pounds, $11.65@12, one choice load in tjjis class going at $12.15; 225, 250 pounds, [email protected]; 250 pounds up, sll @11.40. Pigs were listed at $11.75 down and packing sows $9.75@ 10.50. The irregularity of the previous cattle market was settled today, the tone turning steady to strong. Beef steers were $8.25@ 10.50; beef cows, [email protected]; low cutters and cutter cows, [email protected]; bulk stock and feeder steers, $6.75@8. The run estimated 1,100. • Prices Down The veal market was weak to lower, the bulk selling at $14.50. Best vealers brought sls. Eight hundred calves were received. Top fat lambs were 25 to 50 cents higher, the quality of the 600-liead run being considerably improved. Best westerns sold at sl6. In addition to top fat lambs at this figure, bulk fat lambs were [email protected] and bulk cull lambs, [email protected]. —Hors— Receipts. 5.000: market steady to hizber. 90-130 lbs $ll.OO @11.75 130 360 lbs 11.75*112.00 160-200 lbs [email protected] 200-250 ibs 11.40 @ 11.90 250 lbs. qp 11.00ft11.50 ■ "Cattle™ Receipts. 1,100; market steady to strong. Beef steers 8.25@ 10.53 Bulk stock’ and feeder steers 6.75@ 8.00 B?ef cows 5.25 @ 7.75 Low cutters and cutter cows. 3.75 ft 5-25 —Calves— Receipts. 800: market weak to lower. Best vealers sl4.ooft 15.00 Heavy calves ... 6.50 ft 9.00 —SheepReceipts. 500; market higher. Top fat lambs sl6 00 Bulk fat iambs Bulk cull iambs [email protected] Other Livestock /}W LOUI3VIL.LE I,I March 23.—Hpgs Receipts, 900; market steady; top. $11.76. Cattle —Receipts. 200: market steady. Calves—Receipts. 300; market steady: good to choice, $10.50 @12.50; medium to good, $8 ft 10: outs. $8 down. Sheep Receipts, 50: market steady; top lambs, sl3ftl3; seconds. $10011: sheep. $6 ft 7.

MOSCOW FEELS BUnER SCARCITY I■, ■ - 1 Coffee Also Short —Causes Not Clear Bu United Pros MOSCOW, March 23. —Butter Is again disappearing from the Moscow markets. Coffee has almost entirely disappeared. Dairy products such as eggs and butter and cheese have all disappeared at least once in the past six months and reappeared on sale again. Whether the phenomenon 1s due to an actual shortage of the food stuffs, to government errors in over- y estimating the supply and contracting for over generous deliveries abroad by export, or to speculation on the part of private shopkeepers is not entirely clear. The disappearance of these products, except in the case o£ eggs when they last vanished, is not accompanied'TJy a rise in prices. The government co-operative stores are not allowed to let scarcity influence their prices, which remain fixed however difficult it may be to obtain goods for sale. The private shopkeepers fo# the most part also refrain from taking exorbitant advantage of a scarcity, because too much profit at the expense of the consumers leads almost inevitably to exile to the Arctic regions. SUGAR SUPPLY SMALL Cuban Crop Restricted —Output Reduced In Other Countries. Bu Times Special NEW YORK, March 23.—A reduced sugar supply this season, caused by restricted production in Cuba 'and smaller output in other countries, makes protection of our requirements necessary. The Brook- 1 mire Economic Service, Inc., states in its trade bulletin. Acreage developments in Europe are of the greatest importance at present. A 10 per cent increase in European acreage, and an increase in Indian acreage are anticipated. These factors, together with the fact that stocks in Cuba and the United States are above those of a year ago, will help the situation.

In the Sugar Market

(By Thomson & McKinnon) NEW YORK. March 23.—One leading refiner reports a much improved demand. That ia the best news on sugar for some time. But the sugar markets evidently need more of it: the pessimist element in the trade particularly should pay some heed to it. Further improvement along these lines will give prices an entirely different appearance. The chief value of individual Cuban mill announcements—some of them reporting outturns below their quotas—will be a reminder tbat their is such a -thing as a limit to what Cuba can legally produce this year. I think it iB about time the market paid more attention to the more favorable side of the situation. Several English frailroads use yellow light* maiod 0< —JfcT digger signal*.

MARKET FORCED DOWN BY CREDIT STIFFENING Leaders Hold Up for Time, but Finally Succumb —Durant Prominent on Curb.

By Elmer C. AYalier NEW YORK, March 23.—Ca1l money rates firmed up to 4% per cent Tuesday, the highest figure since January, and this stiffening In the credit situation was seized upon to force the market down. Leaders were unable to Sold up the wave of liquidation and fell with the rest of the list, losses ranging up to more than 9 points In several instances. Earlier trading had been fairly even, but several waves of selling brought the prices down each time they rallied. This down*vard movement was not serious, however, in Wall Street’s way of thinking. Checks are coming to the banks which were drawn to pay income taxes. Cashing these caused withdrawals running to $30,000,000, and the consequent advance in the call money rate after renewals had been arranged at 4 per cent. Money may be stiflfer for the next few days, for not only are the checks causing banks to call loans, but business in the interior is expanding and also in need of money for this growth. Finally Give In Railroad shares held up strong through most of the day,' several times leading the rallies from low levels. However, toward the end of the session this class of shares went down with the remainder of the market. Atchison lost 3% for the day, D., L. & W., a point, and other declined fractionally, with the

FAH TENANCY ' MAKES INCREASE One-Third of American Farmers Tenants. Bu Times Special WICHITA, Kas., March 3.—lncrease of farm tenancy has thrown moro than one-thir# of the farmers of the United States into the tenant class, according to a survey completed by the Coleman Research Laboratories of Wichita. “Os 6,371,437 farms in America, 2,462,528, or 38 per cent, are operated by tenant farmers,” says the survey made public by Charles E. Parr, secretary of the Coleman Lamp Company. “The remaining 3,909,098 are farmed by the owners themselves. Maine has the lowest farm tenancy record with only 3.4 per cent, or 1.694 tenants out of 60,037 farmers. Mississippi has the highest, with 68.3 per cent, or 176,741 out of 257,321. “While many farm economists regard increasing tenancy as an alarming symptom, -it has not reduced farm income. Statistics show that revenue of American farmers including owners and tenants, has risen 33 per cent in the last decade. This gain is reflected in the improvement of living standards. Farm lionys are better furnished and illuminated. Old-fashioned kerosene lamps have given way to safety pressure gasoline lamps. Modem comforts, Including telephones, automobiles, pressure gasoline stoves and heaters, selfheating irons, running water and radios, are now common on the average farm.” The survey disclosed that oldest areas of farm settlement have the smallest percentage of tenancy. Average for New England was only 8.9 per cent. GAMBLE FOR HUSBAND Bv JfEA Service WARSAW, Mach 2/ .—Seven women are to cast lots two years hence for the possession of “their” husband. The husband, during a period of two years, married each in turn. The father of his seventh wife discovered his duplicity and denounced him for bigamy. The judge sentenced him to jail for two years although each of his seven victims testified in his behalf. This friendly testimony so pleased the seven-times husband that he told tli4m he would marry one for keeps as soon as his sentence expired. When asked by them to name the lucky one he replied that they must settle this among themselves as it was all the same to him. The seven consulted together and decided to cast lots for him.

Girl, 17, Hailed as Coming Singer

P';:. f.' * t— _r

Elizabeth Gerald, 17-year-old pupil in Dallas. Texas, high school has been acclaimed a “second Schu-mann-Heink,” by Giorgio Polacco, musical director of the Chicago Civic Opera Company. She can sing nearly three octaves. Polacco calls her voice “one in a thousand.”

exception of Louisville & Nashville, which gained 1% points. Industrials were hardest hit. General Motors was unable to maintain the firm tone it has exhibited of late, losing 4*4 points for the day. U. S. Steel fared better, losing only 1%. Du Pont was off 6%, Houston Oil. 8%; Continental Baking A, 4%; Baldwin, 9%; International Combustion, 3%; Burns Brothers A, 4%; Commercial Solvents B, 6%; Cast Iron Pipe, 4%; Manatal Sugar, 6, and Sbuth Porto Rico Sugar, 4. Sulphur stocks were a distinct exception. Freeport Texas and Texas Gulf sulphur reaching new high records. Durant Conspicuous An advertisement headed. “Durant Back on Job,” telling about an “important announcement” which the head of Durant Motors would make on April 7. lent a strong tone to Durant Motors on the curb, but otherwise this market was in just as bad shape as the big exchange, prices dropping in all groups. Durant Motors soared to Its high of the year at 10, closing at 9% for a gain of 2 points. Bonds were irregular and relatively quiet. Liberty and Treasury bonds made little headway in either direction, and with the' exception of second 4%s were quiet. Cotton reacted as traders watched the situation in China. Wheat held fairly steady. Foreign exchange was featured by a further advance in pesetas and lira.

SAYS DEARTH GOT REPORTS ON TORY (Continued From Pago i) room," Charles White, 21-year-ohl court reporter of the Delaware Circuit Court, where Dearth presides, testified to the Senators this morning. White stated that he had been doing the court work for about eighteen months and was appointed by Dearth. Questioned by Representative Delph L. McKesson, he stated that Dearth had asked him to re|>ort to hhn some of the things that transpited in the grand jury room, where the deliberations are supposed to be secret. “Dlfr he ak yoti to make reports to. him on the Sheriff McAuley case which was being considered by the grand jury?” McKesson asked. “Yes.” "When did he ask you for reports?" “After the sessions I would talk to him.” In response to a question the witness stated that he had rend his notes of the proceedings to Dearth and had quoted witnesses. Often In Room White corroborated the testimony of Mrs. Elizabeth Chalfant, grand Juror, who also testified today, Ernest T. Jester and Mrs. Hazel Carpenter, who testified Tuesday, that Dearth came and went into the grand jury room although he only appeared once as & witness under subpoena. Senator Oliver Kline asked about the right of a judge to do this. Senator William T. Qnillin, Indianapolis, pointed out that was a matter for closing argument of counsel and no explanation was made. It was brought out by the prosecution that' White was asked not to report the jury's deliberation on the Alpha Holliday case. Van Ogle and Wilbur Ryman were also asked not to be permtted tp participate in the deliberation on that case. Rynran had been charged with being attorney for Holliday in many cases against him. Early Court Taking up a mandate suit brought by Nina Sample and M. W. Dalby, election commissioners, against the county treasurer, McKesson drew from the witness the fact that Dearth held court at an early morni ing hour on the mandate suit without notifying attorney for the Municipal League of Muncie, who had enjoined the official from paying the money. Attorney Francis A. Shaw for the league had brought the original action in the Superior Court and enjoined the payment of SSOO each to Republican election commissioners when the Democrat had been paid but $25. At the early morning session Dearth mandated the treasurer to pay the money and it was withdrawn from tle bank when lt opened at 9 a. m. t Many Arguments Long drawn out arguments marked the testimony of Cell Maple, Muncie manufacturer, who was the first prosecution witness today. It was Maple who wrote the letter in the Muncie Post-Democrat to which Dearth objected and which led to his attempt to suppress pii edition of the paper. His action in seizing copies of the paper was the basis for one of the House of Repi*esentative charges that he violated the section of the State Constitution guaranteeing the freedom of the press. Over the vigoi'ous protest of the prosecution the articles which Maple had written for the Muncie PostDemocrat was read and admitted into the record. In the article Maple blamed Judge Dearth and Mayor John Hampton of Muncie for the lawlessness prevalent in Muncie and charged that “the blood of the two men recently murdered in Muncie is on the hands of you two men.” ' ‘ Talk With Dearth Maple told of his conversation with Dearth on the porch of the latter’s home in Muncie, in July, 1926. He charged that in discussing the case of Sheriff Harry McAuley, who was later impeached by the Delaware County grand jury, that the judge told him that he had

full power to clean op Muncl> and would do so. Maple than said that he asked Dearth, “Judge, do you think that you can get a grand jury that will indict McAuley?” “Yes, we will go down the line and select those who will do vfhat we want done,” Maple said the judge replied. The dii-ect examination of Maple was short. Van Ogle took up the cross-examination and sought to go into Maple's personal business affairs to which continued objections were made and always sustained. Maple was recalled to the stand when Senator Sumner -Clancy, Indianapolis. wanted to ask the witness if it were not true that he (Maple), had not told Clancy in the Statehouse washroom that he was the author of the article in Dale's paper. This Mapl%readily admitted. The argument then started on the article, McKesson explaining the position of the prosecution that the article is not an issue in the impeachment. In explaining the admission of the article written by Maple, Presiding Officer F. Harold Van Orman stated that it was being admitted for the sole purpose of showing that the witness may have been prejudiced and not to open up the Dale controversy with Dearth. “No Excuse” McKesson in arguing against Its admission said. “If this article was libelous and slanderous it would still be no excuse for confiscating newspapers, suppressing a paper and would certainly be no excuse for haling a large' number of boys into a court without any legal process whatsoever.” Representative Byers examined the witnesses and several Senators took part in the cross-examination. “Was the judge a witness in the McCauley case?” Senator Denver C. Harlan (Rep.), Richmond, inquired. A “Well, lie acted like one.” Q “Did he take an oath before ho testified?” iV. “Yes, ho did once.” Q. “Did he come in the jury room after that?” A. “Yes. several times.” Q. “What did he do?” A. “He talked over points of the case and gave us names of witnesses. Sometimes he would come in and say he had a witness ready.” Women on Jury How the women of the church circle to which Mrs. Jacob Cavanaugh, wife of one of the jury commissioners In the Dearth court, belong became jury members was detailed by Mrs. Elizabeth Chalfant, jury member during the bringing of impeachment charges against Sheriff Harry McCauley. After corroborating the testimony of Tuesday regarding the many appearances of Dearth before the Jury in the McCauley case and that he charged the jury to return impeachment charges or he would “get a jury that will,” she told of her own selection as Juror tinder questioning of Senator Earl W. Payne (Rep.), Bloomington. “You see I met Mrs. Cavanaugh at a meeting at the church and I asked her if she was on the Jury,” Mrs, Chalfant explained. '“She said she was and asked me if I would like to serve. I said 'yes’ and then she said she would see her husband and see what could be done. When I saw that she was serious I told her I really didn't want to be on the jury.” Two weeks later Mrs. Chalfant’s phone rang and a deputy sheriff read a summons to grand jury service. Mrs. Chalfant also boro out the

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PAGE 15

statements of previous witnesses regarding the Alpha Holliday case, declaring that the jurors challenged Deputy Prosecutor Wilbur Ryman for representing and prosecuting Holliday at the same time. Hhe testified that Dearth said Ry* man had lied to tho Jury when he said that he didn’t represent Holliday, and that since it was the last day of the session ho promised that he would tako the matter up with the next grand jury.

Gone, but Not Forgotten

Automobiles reported stolen to police belong to: Harold M. Wlson, 1933 Central Ave., Chevrolet, 529-328; from ThirtyFourth and Illinois Sts. Mrs. Leo Grigsby. 841 N. Chester Ave., Chevrolet, 521-051; from 29 N. Brookville Rd. John I/ong, 2053 N. Ia Salle St., Ford, 546-126; from Roosevelt Avo. and Station St. Everett Houghland, 2403 Gale St.. Ford, 506-571; from Ohio St. and Senate Ave. Gene Wadsworth, 308 W. Twenty. Fifth St., Bulck, 567-696; from aide of residence.

BACK HOME AGAIN

Automobiles reported found by police belong to: Lewis Hall, GlO N. New Jersey St., Ford, found at Alabama and St. Joseph Sts. Ford roadster, no license, found at Capitol Ave. and Union Railway tracks. Fred Lane. 551 Control Ct.; Diana; found at 2838 Burton Ave. John Hesslon, Crawfordsvllle, Ind., found at Sixteenth St. and Big Four R. R. lU lI.DING TOPIC Speakers will talk on “Present Day Building Trade Situation” and "Improvement In Construction,” before the Indianapolis Ileal Estate Board at luncheon Thursday at the Chamber of Commerce, Robert MacGregor, secretary, announced today. W. L. Br'Mges will be chairman. Has No Sign of Asthma Now Says Wheeze and Cough Entlraly Gone. Telia What Did It. For the benefit of asthma sufferers, Mr. Charles Dean, 910>4 Virginia avenue, Indianapolis, Ind., tells how he got entirely rid of this stubborn disease. Mr. Dean says: “I l/egnn having asthma In J 912. Kepi gutting worse, and couldn't do a day'* work. I would wheeae and rhoku and if J walked a aquare, I had to lean agalm/t n post nnd re*t. in October, 1923, I hpgati inking Narnr. Belief came very promptly, and I continued to'improve, gaining 13 pound* In weight. I feel perfectly well again nnd can any that Nacor la the only medicine that ever brought me relief. Hundred* of other sufferers from aathum, bronchi!!* nnd severe chronic cough* have reported their recovery, after years of affliction. Their letters nnd a booklet full of vnlnnhlu information about these ntuhhorn dl*eu*e* will he sent free by Na/or Medicine Cos., 413 "SlHte Life Hldg.. Indlnnapoiis, Ind. No matter how serious your cssn Neuins, call or write for this free booklet today. If may give your whole life anew meaning.

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