Indianapolis Times, Volume 38, Number 300, Indianapolis, Marion County, 24 March 1927 — Page 13

MARCH 24,1927

PRICES STEADY TO TEN CENTS UP ON HOGS

•0. L. & W. STOCK COMES FORWARD ON N. YJXCHANEE Other Railroad Issues Show Strength, C. & 0. Striking New Peak.

Average Stock Prices

Average of twenty industrials Wednesday was 158.85. up .44. Average of twenty rails was 127.08, un .75. Average ol forty bonds was 1)7.00. oft .04. Bu United Press NEW YORK, March 24.—The vigorous raliy which developed late Wednesday shook the conviction of the speculative fraternity that the market was in for a prolonged reaction. This aggressive comeback brought further a short covering and fresh buying into early dealings, Imparting a generally strong tone to the market as a whole. D„ L. & W. sold off 3% to 1671/& dii profit taking on the good news the distribution of treas■Vry assets, equal to SSO a share on ™lie present Lackawanna stock. Other rails were strong, under the leadership of C. & 0., on which a new high was reached on the move at 161%. up %. Professional bearish operations thrived, their luck again on, in the iate morning, but encountered stubborn opposition from healthy conditions of business and movements of investment yield toward a lower base. With high grade railroad bonds used in the Dow-Jones averages showing a 444 per cent basis, the lowest return in practically twenty year, constructive interests paid no attention to bearish activity. Buying went ahead in seasoned dividend shares. The overflow of investment funds into the stock market resulted in advances in many seetidlis of the list. American Telephone advanced 1% to 164; International Telephone, 1% to 13976; Union Carbide, / points to 119; New York Central, 1% to 143%, and Reading 4% to 10976. Reading’s upswing was particularly rapid because of heavy accumulation of stocks on the theory tli at early action would be taken with regard to an increase in the regular dividend. Reading earning better than sll a share in 1926, justifying the belief that a $5 or a $6 dividend would be established In the near future. REPORTS HEARD ■FTmerous Stories Circulated About Street Involving Lackawanna. !': ' United Press NEW YORK, March 24.—Wa1l i'.trjet heard half a dozen repprts today of railroad mergers involving the Lackawanna & Western Rallrrnd, which Wednesday announced distribution of $92,000,000 to stockholders. None of the reports had a sub Stantial source and officials of the railroad refused to comment, bu'*. there was a definite feeling that the distribution, which completed segregation of properties owned by the railroad as ordered by the United States Supreme Court twelve years ago, presaged an important rail development. One report was that the Lackawanna would be Included in the new Yan Sweringon merger, now before the Interstate Commerce Commission. ’ Under the segregation plan, anew holding company will be organized to be known as the Lackawanna* Securities Company to hold coal and other properties ordered separated from the rail management. Its capitalization will consist of $92,000,000 par value of securities now held by D. L. & W. including bonds of Morris & Essex Company, the Glen Alden Coal Company, and New York, Lackawanna & Western. New securities will bo issued by the holding company which will be distributed to present holders of D. L. & W. stock on the basis of one new share for every two of the railroad stock now held. * D. L. & W. stock has been rising to new high ground in the stock market of late. Each day this week thus far it has attained anew peak, Wednesday rising more than 5 points in an erratic market, incidentally acting as a strengthening influence to other railroad issues.

Banks and Exchange

—March 24 INDIANAPOLIS STATEMENT Local bank clearings were $3,199,000: debits, $5,542,000. FOREIGN EXCHANGE Bn United Press NEW YORK, Match 24.—Foreign exchange opened irregular: demand sterling. $4.65 1-16. oft .00 3-10: francs. 3.911-8; lira. 4.59'5c. up .00% : Bclga. 13.89 c; mark's, 23.71 %c.

Peppermint Oil

(By Thomson & McKinnon) NEW YORK.' Morel) 24.—Peppermint oil—Natural. S4.KMR 4.20: U. S. P.. $4.40 ®4.50

Produce Markets

Butter (wholesale price)—dreamery beat grad?, a pound. 49® 50c. Butteriat —Local aealers pay 48 @ 49c a pound. Eggs—Strictly fresh delivered at Indianapolis. 20® 21c. Poultry (buying prices)—Hens, large lusters and Leghorn stags. 14®15c: BPaggy young springs. 154418 c: soft mc.-it-”c! springs. 20 44 21c; Leghorn springs. 15 Si ljc: ducks. J.®200: geese. 114412 c: turkeys. youuc toms. 30@32c: old toms 2oc: hens. 304,i 32c: guineas. 35c.

Local Wagon Wheat

Local grain elevators are paying $1.16 for No. 2 red -wheat. Other grades are , ('-’-'■-d ... merits.

Plays Role of Sleuth

The revenue officer cramps the cub reporter’s style. These are the roles taken by Russell McDermott of Chicago (left) and Robert Huncilman, Bloomington, Indiana University students, in th-j sixth annual Jordan River Revue, I. U’s. all-student musical comedy, which will be presented at the Murat Theater Friday night,

New York Stocks

!By Thomson & McKinnon)

—March 24 Railroads— Prev. High. Low. t :00. close. Atchison ..178% 177% 178 , 177 Atl Cst L 135 B&O ... 113% 113 113% 112% Call ad Pae 3 84% ... 183% 183% C&O ... 162 % 161% 162% 161 % C & N W.. 81% 80% 81% 80% C B 1 & P. 86% 85% 86 85% Del & Hud 185% 183 184% 183 Pel & Lac .168% 164 U 165 171% Erie 44% 42% 44% 43% Erie Ist pfd 56 55% 56 64% Lit North pi 86% 85% 86% 85% Lehigh Val 116% 114% 116% 115% K C Southn 51% 50 60% 50 L&N 133% M K & T. . 37% 37% 37% 36% Mo Pac pf 100% ... 100 100 N Y Cent. .143% 141% 143% 142 NY NH & H 40% 48% 49% 48% North Par. 85% 84% 85% 85% Nor &Wn 175% 174% 175% 174 Prre Marq 118 ... 118 118 Pennty ... 59 % 58 % 69 % 58 % Reading .. 110% 106% 109% 105% 8 Railway 124 ... 124 124 So Pacific .113% 112% 112% 112 St Paul ... ... 13 St Paul pfd 20% ... 20% 20% St L & SW- 69% 68% 69% 68% St L& 8 F 111% ... 110% 111 Union Pac 168% ... 167% 167% Wabash ... 70 % 69 % 70 69 % Wabash pfd 93% ... 93% 93% Rubbers— Ajax 11% ... 11% 11% Fisk 18% 18 18% 17% Goodrich . . 54 ... 54 53 % Goodyr pfd . . ... ... 103% Kelly Sprfld 19 % 18 % 18 % 18 V. U S RutJW 61% 60% 61 61% Equipments— A C and F 102% ... 102’,', 102% Amer Loco 110% ... 110% 110% Am Stl Kdy 45% ... 45% 45% Bald Loco 178% 176*; 178 177-’J Gen Elec... 85 84% 85 84% Lima 67% 67 67% 66 ‘ N 5 Airbrk 43% 43% 43% 43% Pr Stl Car. 63 60% 67 61 Pullman ..176% . . 170% 176 Rail Sig . 108 . . 106% 106% West A B. 151 150 151 151% West Elec.. 75 74% 75 74% Steels— Bethlehem. .49 % 49 % 40 % 49 % Colo Fu ... 58% 57% 58 57% Crucible . . 89 % 89 89 % 88 Gu.St Stl.. 59% ... 59% 59 Ph BC& 143 42% 43 42% Rep St). ... 71 % ... 71 % 71 Sloss-Sh t OK Un St Stl .103% 162% 163'% 163 Alloy 20% Vanad .... 50% 47% 49% 47 Motors— Am 805.... 16 14 % 16 14% Chandler . . 24 % ... 24 % 24 Chrysler .. 41% 39% 41% 39% Con Mo 11 % 11 % 11 % 11 % Dodge 21 20% 20% 20% Peerless ... 26 % ... 20 % 76 Gabriel ... 30 ... 30 30 Gen M 0... 175% 172% 174 173% Hudson ... 68 % 67 % 68 67 % Hupp ..... 21 % 21 21 21 Jordan ... 18 ... 17% 17% Mack .... .105% 103% 105 103% Mar-Par ... 21 % Moon BV, . . 8 % 8 % Nash ... 63 % 63% 631'. 63*2 Packard . . .35 % . . 35 % .35 % Pi Arrow.. 21 20% 21 20 Studebaker. 50% 49 % 50 50% Stew-War . . 59 ... 58 % 58 % Timken ... 84% 83% 83% 83% Wil-Ov ... 21 % 21 % 21 % 22 Wh Mo. . 50% ... 50 50 Vi Mining— Am Sm ..145% 144 145% 114 Anaconda... 46% 46% 46% 46% Ch Pop 38% 37% 38 37% Inspir 19 •... 18% 18% Bit Nic.... 39% . . 39% 40 Kennec . . 6.3 % 63 63 63 Tex G & Su 62% 61% 62 60% U S Sm... 41% 40 41% 39 Oils— Atl Ref ...109 100% * 109 108% Cal Pet.. 27% 26% 27% 27% Freep Tex. . 57 56% 56% 55% Houston .. 98 % 98 % 07 % 98 % Tnd 0i1... 25 ... 24% 24% Marl and O 50% 50% 50% 50 Superior O . . . ... 4 % Mid-C Pete. 34% 34 34% 34% P-A P IB) 62 ... 61% 61% Pacific Oil .. . ... ... l % Phillips Pet 49% 49% 49% 49% Union Oil. 44% ... 44% 43% Pure Oil. . 28 % ... 28 % 28 % Royal Dut 50% ... 50% 50% Shell 28% ... 28% 23%

Commission Row

PRICES TO RETAILERS FRUITS Apples—Eox apples—Staymens. $2.75; Winesaps. $2.75; Delicious, $3.50 443.75. Extra fancy barrel apples Winesaps, s(>: Rhode Island Greenings. $4.50: Cherry Red Baldwins, $3.75; Rome Beauties, $4.50: New York Kings, $4.50: New York Baldwins. $4 4? 4.25: York Imperials. $4; Staymens. $4.50: Ben Davis, $4 4? 4.50. Fancy barrel apples—Staymens, $3.75; Winesans, $44/ 4.50: Baldwins, $3.75; Rome Beauty, $3.75(84: New York Baldwins, $3.50: Ben Davis, $3.75. Basket apples (40-lb. baskets) —Stay-men Winesaps. $1.50: Delicious. $1.5: Romes. $1.50: fancy Romes. $2: Winesaps, $2; Wagners, $1.35: New York Greenings. $1.50: New York Kings, $1.50: Baldwins, $1.20; Staymens. $1.75. Bananas (jobing price)—4'A@sc lb. Cranberries —Jersey Howes, half bbl. $3.00. Grapefruit—Extra fancy. $4.50 5?6. fancy. $3.50444. Lemons—California. $4.50@5. Oranges—Florida. $3,25 4/4.25: Califorextri* fancy. $4.75@6; fancy. $3.75® 6.75. Strawberries—Florida. 40 @ 45c at.; SB. 24-qt. case. VEGETABLES Artichokes—California. $1.50 doz Asparagus Georgia. crate. ss@7; bunch. 5044 75c. Beans—Florida green, $5 hamper. Brussels Sprouts—Fancy Calilornia. 30c pound Cabbage—Holland seed. 2c lb.; new Texas, 3 He. Cauliflower—Crate. $3. Celery—Florida, 4@6-doz. crate, $3.75; 8 4/>lO-doz. crate. $3.50; Mammoth (washed). $1 Si 1.25 doz. Cucumbers—Hothouse. $2.75. Eggnlant—Florida. $2.50 per doz. Endive—Louisiana, $3 bbl. Garlic —California. 12ttc lb. Kale—Louisville bags, $1.50. Lettuce—lceberg, crt.. $3.50@4: H. G.. hothouse. $1.05 15-lb. basket. Mangoes—Florida peppers. $4.60 crate; §1.50 peck. Mushrooms—Pennsylvania. $1.60 ® 1.76 for 3-lb. basket. Onions—ll. G. yellow. 100 lbs., $3.75; Spanish, crt.. s2<B 2.25.. Onion Sets—Red and yellow. 2 bu.. $5; white. 2 bu.. $8.50; Texas Burmuda plants. 5.000-cratc, $5.60. Oyster Plant—H. G.. 60c dozen. Parsley—H. G.. 60e Der bunch; southern, 75c doz. Peas—Mexican telephone. $7.50 crate. Potatoes —SRchigan whites. 150 lbs.. $3.60- Russet Burbanks. 160 lbs.. $4.25: Red River Ohios. 120 lbs.. $3.40: Idaho Russets, 100 lbs., $3.75: Idaho bakers. 00-70s. $4. Triumphs. $4 Seed potatoes —Maine cobblers. 150 lbs.. $5.50: Red River Early Ohios. 120 lbs., $3.75: Bliss Triumphs, 150 lbs.. #5.50: Early Rose. 150 lb-5.. $4. Radishes —Southern long reds. 30® 35c: hothouse buttons. $1.25 Ithul)arb—H. G.. 5 tbs.. 50 & 85c. Root vegetables—Turnips, bu. 90c; parsnips, bu.. $1.75: carrots, bu.. $1.50: H. G. beets, bu.. $1.50: Louisiana beets. <)<).• dozen. Shallots —Louisiana, 60c dozen. Spinach— Texas. $1.50. Sweet potatoes Hu.: Nancy Halls. $1.35: Indiana mediums. SM .25. T''—Six-basket, crt.. $.3.50^5.80.

Sinclair .. 17% 17% 17% 17% Skelly ... 30% ... 30% 30% S Oil of Cal 55% 55% 5;>% 55% S Oil of N J 37 % ... 37 % 37 % Tex Com. 48% 48% 48% 48 Trans Pet. 4Vs 4% 4Vs 4 % Industrials— A Rumely ... ... ... 14 Allis Chal. 94% ... 94% 49 Allied Ch.. 139 Vi 138% 138% 138% Arm (A). ... ... ... 12 % Anier Can. 46% , 46% 46% Am Wool. 21% 21% 21% ~2 A H&L pfd 49 % ... 4!) % 49 % Am S Raz 68 % 57 58 56 % Cen Leath 10% ... 10% 9% Coco Cola ... ... . . 189% Cont Can.. 63% ... 63% 64% Certainteed ... ... . ■ ~, 45 % Dav Chem. 28 % ... 28 % 29 % Dupont .. 205 203% 204 104 Fam Play 110 ... 109% 109% G Asphalt. 84% 81% 82 % 82% In Comb E 51% 60% 61 49% Int Paper. 56 ... 55% 55% Int Harv.. 154% ... 154% 154 Leows ... 60 ... 58 % .>9 % May D Stor 70% ... 70% 70Vs Mont Ward 66% ... 66 65% Natl Lend ... ... .•• 193% Owen Bot.. 79% ... <9% 81 Radio .... 50 % 49% ;>0 % .>0 Rem Type 165 164 165 109% Real Silk.. 46% ... 40 46 Sears-Roe. ... ... ... &4% Untd Drug 165 ... 165 164% USC 1 P .211% 210 211 210% U S Ind A1 72% 71% 72 71 % Woolworth 120% 124% 124% 120% Utilities— A T and T 164% 162% 164 162% Am Express . ... ... 130 Am Wt Wk 79 % 78 78% 79 Brklyn Man 05% ... 65% 65% Col G and E 85% 84 85 83% Cons Gas .97% ... 97% 97% Xnterboro 47 ... 47 46 No Amer Cos 48 % ... 48% 18% Peoples Gas • . ... • • • 129 Phila Cos 100% St G and E 56% 56 56% 56% Wn Union .151 ... 151 148% Shipping— Am Int Cpn . , ... ... 37 % Am Sand C 4 3% 4 3% Atl an Gulf. . . ’... ... 31 % In M M pfd 40 % ... 40 % 40 Untd Fruit 120% 120 120% ... Foods — Am Sugar. 83% 83 83% 81% Austin Nich 5% . . 5% 5 Beech N Pk 55% Calif Pack 64% Corn Prod* 54 . . 53% 54 Cuba Cn pf 40% 4040% 39% Cuba Am S 24% 24% 24% Flelsohmann 50 % 50 50 % 50 Jewel Tea , . 57% Nat Biscuit 107% 107 107% 107% Punta Aleg ... . . 37 % Postum .. . 04 % ... 94 % 94 % War dßk B 24 ... 23% 24% Tobaccos— Am Sumat. 49% ... 49 50% Amer T0b.... ... ... 125 Am Tbb B 125% ... 126% 125 Cons Cigars 77% ... 76% 77% Gen Cigars. 54 ... 54 54 Liggett ... 94 ... 94 94 % Lonllard .. 28 27% 28 27 % R J Rynlds 109 .. 109 108% Tob Pro B 105% 105 105':, 105% U C Stores. 89% ... 80% 80% Schulte R S 48% ... 48% 48%

WHEAT AND OATS FRACTIIHIGHER Corn Sentiment Mixed on Chicago B. of T. Bu United Press CHICAGO, March 24.—Indications at the opening of the Chicago Board of Trade were that wheat prices might have a further rally following yesterday’s recovery from the season's low figures, but the belief in the main Mas that values would not hold should there he any important increase in the selling. Opening quotations were unchanged to %c higher than Wednesday’s close. Liverpool was %c to l%e higher, which was about as expected. Sentiment in the cor i trade is morb mixed, despite the big reductions made in prices s > far this week. Many traders beL .e there is to be much more liquidation to come. Opening prices were %c higher to %c lower than yesterday’s close. Oats looks low to the trade, but speculative interest is small and prices are not expected to advance unless other grains show strength. Prices opened unchanged to % c higher than the previous close. Provisions opened higher.

Havoc Follows Paraffin Explosion

Two were killed, half a million dollars’ worth of properly destroyed, a nd Hie eify of Buffalo was shaken foil several miles when a huge paraffin tank of the Standard Oil tympany plant there let ro. Many per. sops were thrown from their beds by the shock and a bank alarm three miles away was set off. The picture shows the wreckage, with firemen at work. T

THE INDIANAPOLIS TIMES

Cattle Strong, Calves Adj vance —Scarcity Makes Sheep Nominal. —Hog Price RangeMarch. Bulk. Top. Receipts. 17. U.t0(d12.00 12.00 5.000 18. 11.35 m 12.00 12.00 3.500 19. 11.354411.00 11.00 1,600 21. 11.45m12.00 12.10 1.500 22 11.40® 12.00 12.15 5.000 23. 1i.40M12.00 12.15 5,000 24. 11.50 @12.25 12.25 4,500 The strong tone of Wednesday’s hog market continued today, the market being steady to 10 cents higher. Chicago's trade was steady to strong, prices at the two centers varying but slightly. At the local stockyards estimated pork receipts were 4,500. With those were offered 385 head held over from the previous day. Most sales were within the limits of [email protected]. The best price paid for any porkers was $12.25. Hog Price Kange. Meat weighing 160-200 pounds went at $12#12.25; 200-250 pounds, $11.50@12; 250-300 pounds. $11.25@ 11.50; 300 pounds up, $10.75011.25. The top on pigs was higher, selling at sllOl2. Packing sows cleared at $9.75010.50, unchanged. With good prices "Wednesday, the cattle turned even better today. It was strong to 25 cents higher. Beef steers sold at $5. 50010.50; beef cows, $5.5007.75; low cutters and cutter cows, $405.25; bulk stock and feeder steers, $6.75 08. The run counted 700 head. Calves Advance Vealers were 50 cents higher, 800 offered on an active market. The bulk of good and choice kinds went at sls down; best vealers brought the top up to $15.50. Scant supplies in the sheep and lamb division gave the market no test of its condition. One hundred ovines were received, all of unattractive quality. A few spring lambs brought $16.50 and some low grade natives sold downward from $13.50. Regarded as quotably steady, top fat lambs were sl6, bulk fat lambs, $13015, and bulk cull lambs, SBO 11.50. —Hoc* — IVoeipts, 4.500; market steady to higher. 01.-130 lb* $ll.OO fir 12.00 130-160 lbs 11.75 (ft 12.10 160-200 lbs 11.90(u12.26 260-250 lbs. 1 1.40 M 12.00 250 lbs. up 11.00 @11.50 —Cattle— Receipt*. 700; market, strong to higher. Beef steers $8.50 M 10.50 Bulk stock- and feeder steers 6.75 M: 8.00 Beef cows 6.50 M 7.75 Low cutters and cutter cows 4.00<8 5.25 —Calves— Receipts, 800; market, higher. Best vealers $14,50015.50 Heavy calves 6.50@ 9.00 —Sheep— Receipts. 100; market, quotably steady. Top fat lambs $16.00 Bulk fat lambs 13.001815.00 Bulk cull lambs B.oo@ 11.60 Other Livestock Bu United Press CHICAGO, March 24 —Cattle—Receipts. 12,000; most killing classes active, steady to strong: Stockers and feeders scarce, firm: vealers. 25 <r\ 60c lower: best heavy steer*. $12.75: shipping demand, broad; numerous loads above SJ2: best yearlings. sl2; medium weight on long yearling orders. $12.10; bulk fed steers above. $10: largely steer run; fat cows, largely 56.25 <if 7.25: light vealers. S9MIO: outsiders $12.50. Sheep—Receipts. 13.000; fat lambs, opening slow, about steady with Wednesday: choice lambs to shippers. $10: few best, held higher; early bulk wooled offering*. $15.25 (<i 10: heavy lambs, $15015.50: few ,extreme lots around sl4: clipped lambs, $13.25fi(14: choice hanyweights, held around, $14.50; wooled natives, scarce; few, $15015.50; wooled culls. $11.50 @12.50; sheep, steady: bulk fat ewes, $8.50(!i 9.50, best held higher; choice shearing lambs early. $14.75. Hog—Receipts, 29.000; market, steady to strong; heavyweights. $10.70(811.25: mediumweights. $10.85(1(112: lightweight*. $11.35 @12.15; light H;nt*. $11.25(812.20; parking sows. $9.80®’10.40: slaughter piga. $11.25 @12.20. Bv Times Special LOUISVILLE. March 24 Hogs—Receipt*. 900: market. 10c higher: tops. $11.85. Cattle—Receipts. 300: market, steady. Colvce —Receipts. 200; market, steady; god to choice. $10.50012.50; medium to good. $8.50W 10.50; outs. $8.60 down. Sheep—Receipts, 50: market, steady; top lamb*. $12@13; seconds, $lO 0111; sheep, $6 @7. Bn United Press CINCINNATI. March 24.—Hog* Receipt*. 2,400: holdovers. 1.300: market steady with Wednesday* close: 250-350 lbs.. *10.85 @11.75: 200-260 lbs.. $11.75 @12.15; 160-200 lbs.. $12(812.15: 130100 lbs.. $1212.25: 90-130 lb* . SIOO 12.15; packing sows, sP@’lo. Cattle—Receipts. 400: calves. 500: market steadv. veal* steady; beef stecr. s7.soif? 10.25: light yearling steel's and helftr*. $7010: beef cows. $5,504(7.23: low cutters and cutter cows. $4((/5.25; vealers. s9@l4: heavy calve*, s6@9; bulk stock and feeder steers. $6 @B. Sheen—Receipts. 260: market steady: top fat lambs sl6: bulk fat lambs. $J::((fl6; bulk cull lambs, $7.50011: bulk fat ewes, $5 @B. Bu United Press EAST ST. LOUIS, March 24.—Hogs Receipts. 14,000; market 10@20c higher: 250 to 350 lbs.. $10.85® 11.50; 200 to 250 lbs.. $11.25@ 12.0 ft; 160 to 200 lbs.. $1 1.05® 12.20: 130 to 160 lbs.. $11.50@ 12.20; 90 to 130 lb*.. sll ( 12; packing sowefl $10.15(0 10.50. Cattle—Receipts, 2.009: market lor steer* steady to Btrone: beef steer*. $94(9.05: light yearling steers and heifers. $7.6009: beef cow*. $0 35 hi 7.25: low cutter* and euttfr cows. $4.25 0 5.50: vealers. $14.25: heavy calves, $0 4(9; bulk stocker and feeder steers. $7.90 hi 8.70. Sheep—Receipts. 1.200: market steady to strong: top fat lambs. $15.75: bulk fat lambs. $15.75; bulk cull lambs. $11.50® 12.59: bulk fat ewes. $9@>9.50.

In the Sugar Market

(By Thomeon & McKinnon) NEW YORK. March 24—A leading: refiner late yesterday solicited offers at 5.89 cent* tor prompt shipment, with tho simulation that offer* were to be submitted before 5 o’clock today. Obviously this move is intended to test the interest of buyers. It may prove disturbing to futures and encourage some ftirthcr pressure against raw*, but in such an event I would favor purchases. I think there is too much pessimism in circulation regarding the sugar markets.

Prized Religions Relic

£*jk| ■ ’ ■ .jji|

Particles of the Cross of the Crucifixion are contained in the monstrance here- held by Miss Theresa Moser, of Jersey City, whose family has treasured It for generations. It was once the property of Joseph 11, Emperor of Austria.

STOCKS RISE, FALL IN CURIOUSLY MIXED WAY Delaware, Lackawana & Western Announce Big Melon —Business May Surpass 1926 Record.

By Elmer C. Walzor Manager United Press Financial Service NEW YORK. March 24.—Business conditions as mirrored in the millioncar week Just- reported, more optimistic reporta from the steel Industry, money in supply despite further calling of loans and a recovery in wheat and cotton furnished the background Wednesday for a stock market which presented a curious mixture of rising and falling streaks. The final result was more gains than losses and a distinctly better tone prevailed at the close. The opening was irregular, hut pivotal Issues, led by D., L. & W. and Atchison, soon brought an advance only to run Into a wave es severe profit-taking and bear pressure toward the end of the find hour. Another rally was followed by another selling wave until the final hour, when stocks turned distinctly upward. Ninely Millions Delaware, Lackawanna & Western, which late Wednesday announced a melon of more than $90,000,000 for shareholders, spurted 6% points for the day. Atchison lost most of its early gains, hut ended the session up 1% above the previous close. Houston Oil, Union Carbide, Youngstown Sheet and Tube, Case Thrashing and Ludlum Steel were among the best gainers. Utilities all showed a better tone, as did independent steels. United States Steel common held stanchly through the entire day in a narrow range and closed with a gain of %. General Motors receded %. Car loading figu-es for the week ended March 12 evoked considerable comment in that, for the first time in history, a million-car week has been reached so early in the season. Already prophets who were pessimistic regarding the 1927 business capacity are revising their predictions with the thought in mind that the present year may still outstrip the records made In 1926. Lower Production At the same time it was announced the oil production had dropped somewhat in the past week, adding some optimism to a dark outlook in the oil shares. Spring demand for gasoline and crude oil Is already making itself felt and should soon be a big factor in stimulating better prices.

Bonds were dull today and prices dropped considerably lower lyCurb stocks also were under pressure, with the exception of Durant which reached the highest point for the year. Foreign exchange quotations were enlivened by a further advance in Sterling and Pesetas, both of which reached now high records for the year. Japanese Yen were up 5 points. Chicago Grain Table WHEAT— ~ March 24 ~ Pn . v „ Low - 11:00. <-]<>. May 1.34 1.32% 1.33% 1.33% July 1.28% 1.28 1.28% 1.28 u Se SoRN—: ’ 1 i-2H i.20% May .72% .71% .72 .72% July 77% .70% .'7 .77% Sept 80% .80% ,t>o % .81 OATS— May 43% .42% .45 .43 JU 'FYE 14 .43% .43% .43% May 98% .97 % .97% .97 % July 90% .05% .96 .95% LARD— Mar 12.45 12.45 12 37 May 12.52 12.52 12.47 July 12.75 12.72 13.70 fIIBS May 14.70 14.70 14.60 Bn Times Special CHICAGO March 24.—Carlot*; Wheat. 19: M>rn, 94; oats. 32: rye. 4. Bn Times Special CHICAGO. March 24.—Primary receipt*: Wheat. 484.000. against 448.000; corn, 419,000, atraiiißt 510,000; pat*, 255.000. aramst 418.000. Shipments: Wheat 355,000. aeainst 375,000; corn. 372.000. 4!)0 GOO 3s '' ° ctol *' r ;)ol 'ooo. acainst WHEAT STORE ADEQUATE Supply for Domestic Consumption and Export Appears Sufficient. Bu Times Special NEW YORK, March 24.—Wheat supply for domestic consumption and export in the remaining four months of the season is adequate, the Brookmire Economic Service, Inc., states in a study of agricultural conditions. The 1926 crop in Argentina and Australia was 95,000,000 bushels greater than that reported In 1925. while exports from these two countries have so far this season totaled only 6,000,000 bushels more than last year, indicating a large surplus. Heavy import requirements of Europe can easily bo filed, and, if our 1927 crop reaches 800,000.000 bushels estimated as a minimum total, we may face overproduction and price weakness. Paul Revere, besides being noted for his famous ride, wns one of the most skilled silversmiths America ever had. Leonardo da Vinci, the famous painter and sculptor, demonstrated the first principles of mechanical flight.

It Won’t Be Long Now! J"" ] U ,S’ t and * See Our Large Advertisement in 5 Just 60 Steps I nwn—■ i in , SI SI

Describes Court Conditions

HHI

Francis A. Shaw, special deputy prosecutor, former head of (lie Miiueie Bar Association, who testified as to conditions in Circuit Judge Clarence YV. Dearth’s court before Ihe State Senate In the Dearth impeachment trial.

Indianapolis Stocks

—March 23 —Stock*— Bid. Ask Amer Central Life 600 Amer Creoaotitig Cos pfd...101 105 Ad Rumely Cos coin 13% 14 Ail Rumely Cos pfd 35 36 Belt K R com 66 70 Belt R R pfd 67 ... Cent Iml Power Cos pfd .... 89 90% Title* Service Cos com ..... 61% ... Cities Service Cos pfd ..... 90 .. Citizen* Gn* Cos (<om 50 . Citizens Gas Cos pfd 106 ... Commonwealth Loan Cos pfd 09 ... Equitable Securities Cos com 51 .... Hook Drug Cos com 28% ... Indiana Hotel com ......120 *••>. Indiana Hotel pfd .........100 ... Indiana Pipe Lino Cos 04% ... Iridtnnunoli* Gn* 58 ... Indpls & Northwestern pfd.. 60 ...... Indianapolis St Ry , 39 41% Jntcr*tat P Ser pr Jten pfd 99% ... Merchants Pub Util Cos pfd. 169 .... Progress Laundry com .... 22 % i.. Pub Sav fug Cos 16 ..... Raith Fertilizer pfd 48% ... Heal Silk Hosiery pfd 100 Standard Oil Cos Ind 00% ... T H I & E com 2 T H I A E pfd 21 T H T & L Cos pfd 89 . Union Trac of ino com Union Trac of Ind lat pfd ~ .■ 10 Union Trac ot tnd 2nd pfd.. . 2 Union Title Cos com ...... 8t m .. Van Camp Pack Cos pfd.... 16 ... Van Camp Prod Ist pfd.... 00 97 Van Camp Prod 2nd....... 96 Waba*h Ry com .......... 69 % ... Wabash Ry Cos pfd 93 ... —Bank Htnrk*— Aetna Trust and Sav C 0.... 115 —• i tankers Trust Cos 162 ..... lity Trust Cos 140 . lontinental National 116 m. farmers Trust Cos ....240 .... fidelity Trust Cos 163 -. • Fletcher American .......170 . Fletcher Say and Truat Cos. .205 .. , Indiana National Bank . . .208 272 Indiana Trust Cos .........230 260 Livestock Ex Bank ..103 ... Marion County Bank 210 ... Merchant* Nar Bank 326 . ... People* State Bank 180 ... Security Tru*t Cos 275 ... State Savinas and Trust ... 86 95 Union Tru*l Company ~..410 ... Wash Bank and Trust C 0..-168 ... —Bond*— Belt R R and Stockyards 4s 90 ... Broad Ripple 6s ...* Central Indiana Gas 6*.... 98 ... Cent Ind Power Cos 0* ...,100 ... Citizen* Gas Cos 5* 102% 105 Citizens St R R 5s 85 80% Horn* T and T of W 05....103 104 Indiana Coke and Gas 05..102'4 ... Indiana Hotel 6* 98% ... Indiana Northern 6s 3 ... Ind Uv and Lt 5s ........ 96 . m -rr ind Service Corn 65....... 92% .... Ind Uuion Trac 5* ......... 3 . Undid* Col A So 6s 98 100% Indpls Gas Cos 6* 99% 100% Indpls Lt and Ht 5s .. ... .101 % 102 Indpls A Mnrtinsvillo 65... 74Vi 70 ludpl* Northern 5s 23% 26% Indpls A Northwestern 6#.. 74% 78 Indpls A 8. E 55... 8 Indpls Shelby 4 S K 6s ... 8 Indpls St Ry 4u 02 65 Indpls Trac and Term 65... 95 98 Ws Indpl* Water 5Kn 103% ... Indpls Water 5%s .......103% 306 interstate Pub 8 R* 0%*..10C ... Interstate Pub S Bg 6%5..103% THUKSI 85 T H Trac and Light 65.... 96 .... Union Trac of ind 0s 19 20 —Liberty Bonds—--Ist 3%* 101.00 101.20 Ist 4%• 103.40 103.00 2d 4'i* 100.60 100.70 3d 4!i* 101.00 101.30 tth 4%s 104 00 104 14 IT 3 Tr 4% 114.50 114 80 U S Tr 3% * 108 00 108 90 U 8 Tr 3% * 105.80 100 00 U 8 8r 99.80 100.20

In the Cotton Market

(By Thomson A McKinnon) NEW YORK. Mareh 24.—When the South isn't selling there Is no reason why we should try to lorce tho market. Reactions liko the one of yesterday aitlekly absorb your profits. While I am watting for a fresh impulse, let mo tell you *hst other* are saviinr and doing. Some of the best trader* in New York are taking the long side They tell mo they are very bullish. I know that some of ths bet. known (actor* in the South fool the •ante way about tho market. London feet are long and slim, Welsh feet low In the arch, and Scottish feet broad in the sol*.

Enter March 28 Next Monday, the 28th, would be a good time to start that business eon l%e. Grunting your affairs an in shape, why uut arrange to be with us Monday morning for day school or Monday evening for night school'/ Tho coat of a business education represent* an inveatment. Definite returns arc always expected. Tim sooner you enter, the sooner you will begin enjoying the belief! ll of this training. Attend Indiana Business College at Marion, Muncle, l.ogansport, Anderson, Kokomo, Lafayette, Columbus, Richmond, Vincennes or Indianapolis—Ora R. But*. President. Get in touch with tho polut you prefer, or see, writ* or telephone Fred IV. Case, Principal. Fennsytvnniii and Vermont, First Door North V. W. A., Indlnnnpolla

PAGE 13

'SENATE CHECKS BUDGET RECORD (Contlniied From I’ngo 1) which m-em to have Ignored the'r wishes in regard to th bill. Lo •• hnrrt rtt first discovered irrer* ularitfofi in the measure as slgntd by Governor Jackson. ll* loarnof that hi* nrnomltuent nasaed by ti Senate and eoneurred In by tin House, wrta left out. of tho bill c* signed. The amendment provided for separation of funds of tho Ft. YVnyno and BnllervlUo Institution**, both of which are controlled by tho same tru*tees and have James Jael;* non, brother of the Governor, as Hupcrlntendent. "When the bill originally fwvs from the Budget Gommittea the fttnda were separated. This assured the nutlervllle institution a fund of more than SBO,OOO annually. Brother James objected to this and wanted them joined. They were when the bill reached the flenat, but the Lochnrd amendment separated them again and tills was concurred In by tho House. The amendment Is mlaslng despite theso fact i. Another discrepancy is the omlision of the Senate amendment appropriating SI,OOO for tho Indlnna Vegetable Growers’ Association, Introduced by Senator Cravens. Senators nlso pointed out that the amendment providing that funds for tho Dearth trial be tnken from ti e Governor’s contingent fund was never concurred in by them. Th s portion of the bill was declared unconstitutional by Attorney General Arthur L. QlUlom, before the bill was signed. Another deficiency Is tbs lack of a saving clause, which would make the other sections of the bill lagi 1 should one or mors be found wanting. Since tills Is the case, It was pointed out that lt may be necessary for the Governor to cal! ft spaclt i legislative session to straighten ot t the tangle should constitutionality of the measure be attacked. Senate) s hope to be able to eliminate such a possibility. Lochard, however, has threatenst to enjoin Secretary of State Frederick E. Schortenieler from havlnr the bill printed. It contains a.i emergency clause and Is alreadv effective. The totai appropriations . for the two years are more tha l ‘ $49,000,000, but the bill contains sec? tions that give various departments funds to use until the new flsotil year begins in September. Gilliom contends that lt would, be impossible to halt the bill by enjoining the secretary of State, according to an Informal report. Although “bill tampering" and not tho salary (mention was tha mall point under discussion at the lengthy secret meeting, the matter of gettln t I paid for services during the Deart i ; trial is also unsettled. Senator Ed- , ward O'Rourke (Rep.), Ft. Wayne, I made a test case Wednesday by 1 taking his pay voucher to Stats Auditor L. S. Bowman, who refused , to honor It upon advica of tha at- ! tomey general. A suit may be Instituted to force payment A

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