Indianapolis Times, Volume 38, Number 306, Indianapolis, Marion County, 31 March 1927 — Page 11

■ARCH 31, 1927

PORKERS ADVANCE 25 CENTS; SOME MORE

ACTIVE BUYING OF RAILS CONTINUES: ALSO INDUSTRIALS Further Selling of Issues Takes Place on New York Exchange.

Average Stock Prices

Average of twenty Industrials Wednesday was 159.6(1, off .06. Average of twenty rails was 128.71, up .18. Average of forty bonds was 517.10, off .01. Bu United, Press NEW YORK, March 31.—Continuation of active buying' of rails, which brought about a brisk recovery in Wednesday’s late trading, characterized early dealings. Atchison gained % to 178%; New Haven, % to 52; Texas & Pacific. % to 09%; ('. & 0,, % : to 164%, and Western Maryland, % to 30%. Further selling took place in the industrial group. Steel common declined % to 164%: General Motors, k% to 180; Radio Corporation, % to |la, and Hudson, % to 67%. Waves of selling followed by quick recoveries, kept the market in a feverish state in the late,morning. General Motors broke to 17875, off 1%, but immediately rebounded to 180%. Steel, Baldwin and other industrial leaders encountered excellent support on the recessions. General Railway Signal developed pronounced strength, rising to 110% up 4 points from Wednesday’s low on current earnings which are estimated at an annual rate of S2O a share.

Banks and Exchange

—March 31 INDIANAPOLIS STATEMENT Local bank clearings were $2,798,000: debits. $5,618,000. Clearings for the month of March were $101,906,000: debits, $101,410,000. [ln t'ntted Press NEW YORK. March 31.—Clearings. sl,028.000.000: balances. $104,000,000. FOREIGN EXCHANGE Bit United Press NSW YORK, March 31.—Foreign exchange opened steady. Demand sterling, $4.85',: francs. 3.91%0: lira 4.i8%0, lit! no 'i; Belga. 13.88 %c: marks, 23.70 %e.

In the Cotton Market

(By Thomson & McKinnon) NEW YORK, March 31.—Yesterday’s close interrupted a. selling movement of considerable intensity. From the action of the Liverpool market this morning I inter that arbitrage people have had some cotton there which they will sell against here. My advice for the day is to sell on the call. I think I see lower prices coming. FARM .INCOME LOWER First Year Since 1921 Gross Figure Has Shown No Increase. Bit Times Knee in l NEW YORK, March 31.—Cash income of the farmers of the United States for the current crop year will be about $9,750,000,000—5750,000,000 less than during 1925-20, the Brookmire Economic Service, Inc., estimates in a farm income bulletin. The reduction is duo almost entirely to the severe drop in cotton, grain and fruit prices. This is the first year since the 1921 depression that gross farm income has not increased. With domestic demand unchanged and increased production of food products in deficit countries during the coming year.

In the Sugar Market

(By Thomson & MoKinnon) NEW YORK. March 31.—The larsot volume of business in two weeks in the sugar futures market was accompanied yesterday by generally higher prices. A. stiffening of quotations on actual raws had a good deal to do with this sudden chart.", and may prove to have been the first indication of a revision of refiners’ views. V now Licht estimate on European beet crop prospect* is looked for today. Lower prices for sugar, which have prevailed *inee the first of the year, have kept sowings in Europe down. Such news would undoubtedly have a good effect on sentiment.

Produce Markets

Butter f wholesale priee)—Creamery best grade, a pound, 5248 55c. Butterfat—Local dealer* na.v 50® 51c a 1(01111(1. Egg*—Strictly fresh delivered at Indianapolis. 19 4820 c. Poultry (buying prices)—Hens, large breed, 22®23c: l.eghorns. 18 48 20c: roosters. 13@15e; 1927 broilers. 1% Ibs. up. 40c: Leghorn broilers. 300:35c; ducks. 18 48 20c. geese. 110 12c; turkeys. young toms, 30@32c; old toms, 25e: hens, 300, 32c; guineas. 35c. Jin United Press CLEVELAND, March 31.—Butter—Extras, 51c: standards. 51c. Eggs—Extras, , 26%e: extra firsts, 24%e: firsts. 23 %c: 23c. Poultry—Heavy fowls. 29 ■ (30c. medium. 314c32c: Leghorns. 27 0' ®Hc; cocks. i74c I Sc; stags. 220:23c; broilers. 50 48 53c: Leghorn broilers. Potatoes—Round whites, 150[ti(l sacks .Maine. $4.25: Mich gan. ■ liy $3.403.50; Oliios. $3.25' New $3.40483.50: Idaho russet bakers. sacks. $4: Ohio bushel sacks. m! 3.50; \ Colorado Brown Beauties. 120Bound sucks, $3.85 U 4; Florida barrels, grose No. 1, $12.50. Bit United Press „ „ , NEW YORK, March 31.—Flour Moderately active and steady. Pork—Quiet: mess. $37.60. Lard—Steady; Middle West. $12,85 4/12.95. Sugar—Raw firm; 96 lest. 4.05 c; refined steady; granulated. $5,804) 6. Coffee —Rio No. 7. 16% 4/ id %e; Santos No. 4. 18 lie 18 %c. Tallow —Quiet; specials to extra. 7%'n 7 %c. Hay—Dull; No. i. 81.39: No. 3, $1: clover. 81.10 01.25. Dressed poultry— Steady: turkeys. 30@44c: chickens, 204/ 36c: capons.' 284)44c: fowls, 17@33c; ducks, 20 @ 23c: Long Island ducks, 20 4/ 24c. Live poultry—Steady; geese, 11 4/ 17c: ducks. 19@30c: fowl.*. 31@32e: turkeys. 35® 40c: roosters. 18c offered: chickens. 220 32c: broilers. 40® 55c. Cheriv—Firm: State milk common to special. 27 0 28c; Young America. 27 %c. Potatoes—New Jersey, basket. $1.250 1.50; state. $3,104) 3.00: Bermuda. $4014; Long Island. 9206.15; Southern. $3.25® 9: Maine. $3.50 0 4.50. Sweet potatoes— Jersey, basket. 40c to $2.35; Southern, basket. $1.2501.40. Butter—Firm; receipts. 3,803: creamery extras, 53V4e; special market. 54054 %c. Eggs—Weak: re- • •eipts, 46.538: nearby white fancy. 324/ Kj3c: nearby State white. 27®>3Ie; fresh pirate. 24%4T:25e: Pacific coast first to exrtrns. 29 035 c; western whites, 26® 28c: nearby browns, 28 0 31c. . —i FAST WAR CHANGES MANAGUA—The town of Jinotega has changed hands twice in fortye.ght hours and Gen. Artola of the Conservative army was reported killed. Conservatives now hold the town.

New York Stocks 'liy Thomson & McKinnon)

—March 31— Railroads— Prev. High. Low. 1 :0(). close. Atchison ..178% 177% 177% 178 A Coast L 178 % ... 173 178 B. & O. . .113% ... 113% 113% Can Pae. 184% .. 184% 184% C. & O. . .164% ... 164% 164% C. & N. W.. 81% ... 81 % 82 C . R. & P. . . . 87% D & Hud.. 196% ... 194% 193 D & Lack 160 % 160 160% 161% Erie 48% 47% 48% 47% Erie Ist pfd 57% 56% 57 56% Gt No pfd 87% 8 6 87% 86 Lehigh V. ... ... ... H < K G South 56% 54% 56 o.’t% L. & N. . ..134% ... 134% 134% M. K. & T.. 41% 41 41% 41% M Pae pfd 108% 106% 107% 108% N Y On. .144% 143 144 174.)% N Y NI1&H 52% 52 , 52 51% No Pacific. 87% 85% 87% 80% Nor & IV.. 181% 179% 181 179% Pere Marq 118% ... 118% 118% Pennsylvan. 60% 59% 60% .>O% Raeding .. 111% 110 111 110% S Railway 124 . . . 124 124 So Pacific 114 112% 113 112% St. Paul.. 14% 14% 14% 14% St Paul pfd 22% 21% 22% 22% St L & S W 71 70 71 70 St L& S F 110% .. . 110% 111% Union Pae 169% ... 169% 170 Wabash . . . 72% 71 % 72 71 Wabash pfd 95 Vs 95 95 95 Rubbers— Ajax ..... 10% 10% 10% 10% Fisk IS 17% 18 ,17% Goodrich . 53 % ... 53 53 % Odyr pfd. 104% ... 104% 104% Kelly-Spg... 17% 17% 17% 17% U S Rub.. 60% 60 60% 60Vi Equipments— Am C & F }O3 Am Loco 110 109% 110 , 110% Am Sll Fd 45% 45 Vs 15 % 4o % Bald Loco 186 184 185% 18.) % Gen Elcc. 85% 85% 85% 85% Lima . • . ... 61 N Y Airb.. 44 % 44 44% 43% P Steel Car 67 ... go% 87 % Pullman ..177 ... 176% 17 < % Rail Sig ..116% 113% 116 115% West A B ~ 133 West E 1.... 73 % ... 73 % 74 % Steels— Rethl 52% 51% 52% .*5% Colo Fu.... oil 58% 58% ->B% Crucible .. 89% ... 89 Vs 88% Gu St Stl „ 68% Pit RC & 1 42% .. . 42% 42 % Rep Stl... 70% . . 70% 70% Sl-Slief 129% Un St Stl .165% 164 166% 164% Alloy .... 25% .. . 25 % 25% Vanadium . 51 % ... ol % o'Motors— Am Bos ... 14% .. 14 % 15 Chandler .... . ■ . ... 23 % Chrysler 40 % 39% 4040% Con Mo ..12 ... 11 % 11 % Dodge 19% 18% 18% 18% Peerless ... ... 26 % Gabriel ... 30% ... 29Vi 30% Gen Mo ..180% 179 180 180% Hudson ... 68 67% 87 Vi 68% Hupp .... 21 20% 21 20% •lonian .... 17% ... 17% 17% Mack 102 100% 101 101% Mar-Par .... ... ... 21% Moon 8 8 8 8 % Nash 63 % ... 63 % 63 % Packard .. 34% 34% 34% 34% Pi Arrow. . 19 % 18 % 19 19 % Stuedb .. . 51 ? 51 % 51 % 51 % Stew-War . . 57% ... 57 Vi 58 Timken .. 85% 85 85% 85 Wil-Overl. . 21 Vs 20% 20% 21% Wh Mo ... 48 48 Vs 47 Vi 48 Mlni.ng— Am Sm ..144 142% 143, 143% Anaconda. . . 46% ■ 40% 46% Cer De Pas. 62 62 62 01% Inspiration. 20 ... ■ 20 20'a bit Nic 41% .. 41 41% Kennecott. . . 62% 02% 62% Tex G & Su 60 58% 59% 60 % U S Sm. . . 38 ... 38 38 % Oils— Atl Ref ..110%' 108 vi 110% 108 Cal Pet 87% . . 27 27% Freep Tex.. 56 55 s 56 56 Houston ..101 08% 101 100% Indpeml Oil 22Vs ... 21% 22% Marland Oil 47% 46 46% 48% Mtd Con Pet 34 33% 33% 33% Superior Oil . . ... ... 4"* P A Pete B 60 Vi 60 00% 62 Vi Pacific Oil. 1 % ... 1 % 1 % Phillips Pet 47% 46 46% 47% Union Oil. 42% 42% 42% 42% Pure Oil .. 27% 27% 27% 28 Royal Dtch 49% ... 49 Vi 49% Shell 28 % 28 28 28% Sinclair ... 17 % ... 17 % 17% Skelly .... 28% 28 "8% 29 S Oil of Cal 55% 55 55% 55% S Oil of N J 37 ... 30% 36% Texas Cos . 48 47% 47% 48% Trans Pete 4 4 4 Industrials— Allis Chaim 95 ... 95 95 Allied Chm 142 140% 142 140% Armour A. 11% ... 10% 11 Amor Can. 44% 43 44 44% Amer Wool 20 % 20% 20 Vi 20% A H & L pf . . ... ... 50 Am Saf Raz . ... ... 57 Vi Cent Leath... ... ... 10 Coca Cola. . . ... ... J 29 % Cont Can . 63 Vi 62 62% 63 Davis Chent . . ... . ”7 % Runout .. 218% 216% 218 Vi 218', F Players .107 105% 157 160% Gen Asphalt 81 79% 81 81% In Cm Eng 51% jju ole 50% Tnt Paper.. 54% ... 54% 55% Inti Harv ..156% 155 Vi 155% 156% Leows ... 55 Vs ... 57 % 58 % May Dp St . . ... ... 09% Mont Ward 04% ... 04 04% Natl Lead... ... ... 1 (ip Owen Bottle 80% .. . 80 Vi - 80% Radio ... . 45 43% 44 45% Rem Type. .. ... . 171 Real Silk .. 46% ... 40% 47 Sears ft neb. 54% ... 54% 5414 Univ Pipe 35% :j4 % 35 United Drg 165% .. . " 165% in", usc i p 3i5% ::: 2"n/t wik u S Til AL. 70% 69% 70 ~70 > . Woolworth 126% 120 126% 120% Utilities— Am TANARUS& T 166% 160 166 100% A Express 129% . 129% l.’to Am W Wk 78 % 77 78 % 771. Brklyn Man 66% ... 66% 66 7 , Col Gs & HI 86 ... so so 1 Cons Gas.. 97% ... 96 Vi 96% Interboro .... ... , 43 74 No Am Cos. 47% ... 46Vi 47 Peoples G. .. . ... ... 130 % Phila Cos

Local Wagon Wheat

Local grain elevators are paying sl.lß for No. _ red wheat. Other grades are purchased on their merits.

TRICES TO RETAILERS FRUITS Apples—Box apples—Stayniens, $2.75Wmesaps, $2.75: Delicious, $3.50 03.75 barrel apples Winesaps. $6: Rhode Island Greening*. $4.60: Cherry Red Baldwins. $3.75: Rome Beauties, $4.50: New York Kings. $4.50: U.sw York Baldwins. S4O 4.25' York Imperials. s4' Staymens. $4.50: Ben Davis. s4o'4 50. rancy barrel apples—Staymens. $3.75; Winesaps. S4O 4.50: Baldwins. $3.75; Romo Beanty. $3.75 04: New York Baldwins. $3.50: Ben Davis. $3.75 Basket apples (40-lb. baskets)—Sta.vnien Witiesaps 81.50: Delicious. $1.75: Romes. $1.(0: fancy Romes, $2- Winesaps. $2: Wagners. $1.35: New York Greenings, §l-59: New York Kings, $1.00; Baldwins. $1.20; Staymens. $1.7.). Bananas (jobing price)—4% 05% lb. Cranberries—Jersey Howes, hall bbi. $3.90. Grapefruit—Extra fancy. $4.500 5. fancy. $3.50 48 4. Lemon*—California. $4,500 5.25. Oranges—Florida. $3.75 4i 4.75; California navels, extra fancy. $4.7506: fancy. $4.2.)4/ 5.25. Strawberries—Alabama and Louisiana. $8 24-qt. case. VEGETABLES Artichokes—California. $1.50 dot. Asparagus Georgia, crate. 910 7; bunch. 50 0)75c. Beans—Florida, green, $3.50 05. Brussels Sprouts—Fancy Calnornia. 30c pound Cabbage—New Texas. 3%@4c lb. Cauliflower—Crate-. $3. Celery—Florida. 40 6-doz. cratp. $3.50; Mammoth (washed). [email protected]<loz. Cucumbers—Hothouse. $3: Florida. $1.25 do?.. Eggplant—Florida. $2 per doz. Endive—California $1.25 doz. Garlic—California. 12tte lb. Kale—Louisville bags. 81.50 c Lettuce—lceberg crt.. $4.50: H. G„ hothouse. $1.65 15-lb. basket. Mangoes—Florida peppers. $4.60 crate; $1.50 peek. Mushrooms—Pennsylvania. $1.60 01 76 for 3-lb. basket. Onions—H. G. yellow. 100 lbs.. $3,500 3.75: newTexas. $5.50 crate. Onion S-ts—Red and yellow, 2 bu.. $4.59: white. 2 bu.. $8; Texas Bermuda plants. 5.009-crate. $5.69. Oyster Plant—H U.. 60e dozen. Parsley—H. G-. 50c per bunch: south ern. 75c doz. Peas—Mexican telephone, $8.50 crate. Potatoes—Michigan whites. 160 ibs.. $3.60' Russel Burbanks. 150 Ibs.. $4 25: Red River Ohio*. 120 lbs.. $3.40: Idaho Russets, 100 lb*.. $3.75: Idaho bakers. 00-79*. $4: Triumphs. 100 lb.. $8; new Florida*. sll bbl. _ Radishes—Southern long red*. 30® 35e: hothouse buttons. $125 Rhubarb—H. G„ 5 lb>.. 50®05c. Root vegetables—TurnipH. bu. 90o: parsnips, bu.. $1,50; carrot*, bu.. 81.75; H. G. beets, bu.. $1.50: Louisiana beets. IfOe dozen. Seed potatoes—Maine cobbler*. 150 lb#.. $5.50: Red River Early Oldos. 120 lb*., $3.75: Bliss Triumphs. 150 lbs.. $5.25: Early Rose. 150 Ibs.. $1: Minnesota cobblers, 150 lbs., $4.25. Shallots—Louisiana, 50c dozen. Spinach—Texas. $1.50. Sweet potatoes buv Nancy Halls. $1.35. Tomatoes—Six-basket crt.. $3.50@5.

S Gas S- El 55% 55 55% 56% Wes Union 155 154 Vi 155 154 Shipping— Am 111 Corn 38 37 Vi 38 37% Am S & C 4Vi ... 4 % 4 % Atlantic G. 32% 32 % 31 % In M M pfd 40 ... 40 39% United Fr .. . ... ... 120% Foods— Am Sugar 83% ... 83% 82% Austin N... % . ..> 5% 5% Beech N * ... 55 Calif Pkg.. 64% ... 64 % 64% Corn Prod . 53 7 , 53 Vi 53 % 53 % Cuba C pfd 42 41% , 42 41 % Cuba A Sg ... ... ... 24 % Fleischraann 54% 53% 54 53 % Jewel Tea ... ... ... 57 Vi Nat. Biscuit 111 110% 110% 112% Punta Ale. ... ... . . 39 Vi Postum . . 96 % ... 96 96 W Bk <B).. 23 ... 21 23% Tobaccos— Am Suraa. 54Vi ... 53Vi 55 Am Tob.. 126 ... 125% 126% Am ( (B) 125% ... 125% 135 Cons Cigars 77Vi ... 76% 77% Gen Cigars 54 ... 54 54 Liggett ... ... 96 Lorillard .. 27 >4 ... 27 Vi 27 % R J Rey.. 109% 109 109% 109 Tob P (B> 101% 100 100% 102% U Cig Stor 88 87 87% 88 Schulte R S 48% 48 48 % 48 Vi GDI OPENINGS SHOWJEAKNESS Wheat, Corn Off Fraction—--1 Oats Steady to Lower. Bit United Press' • CHICAGO, March 31.—With foreign cables about as expected and with no change in the favorable weather conditions over the winter wheat belt, neither side is expecting much encouragement, and it is expected that the trade in wheat today will be much in the order of evening up outstanding accounts, awaiting estimates by local crop experts on the condition of the winter wheat crop to be issued tomorrow. Opening prices were !gc to Vic lower. Corn opened Vi. to % lower than yesterday’s close. It is estimated that about 90 per cent of the speculative trade in corn futures is between local professionals, while only 10 per cent comes through commission houses and represents outside interest. The locals are divided, but most of them are looking for liquidation in May and short that delivery various amounts. Oats opened unchanged to % lower than the previous close. There is no development in tills grain, some selling taking place owing to decline of prices of other grains. Provisions opened steady. Chicago Grain Table —March 31— WHEAT— Prcv. High. Low. 12:90 dose. May 1.33 % 1.33 % 1.33 ' j 1.33% •Inly 1.38% 1.28% 1.28% 1.28% September ..1.27 1.20% 1.20% 1.26% CORN— May 72 .71% .71% .72% July 76% ... .76 % .76 % September .. .79% .79% .79% .80 OATS— May 43% .43% .43% .43 % July 11V* .13 V* .44 .44 RYE — May 1.01 Vi 100% 1.01 1.00% July 99 .98% .98% .98% LARD— March 12.42 12.42 12.35 May 12.47 .... 12.45 12.43 July 12.07 12.05 13.65 12.03 RIBS— May 14.50 14.50 11.45 Bn Times Kprcinl CHICAGO. Match 31.—Carlots: Wheat, 25; corn, 43; oat*. 31: rye, 2. Bn Times Special CHICAGO, Aiai'ch 31.—Primary—Reeeipts—Wheat. 585.000 against 364.000; corn, 457.000 against 434,000: oats. 261.000 agiiinst 341 odd. Shipments—Wheat. 509.000 against 430,000: oorn. 340,000 against 288,000: oats. 420,000 against 037,000. COUNTY QUARTER ENDS ( It rk llulseH's Office Closed lo .Make Reports. County Clerk George liutsell announced the clerk’s office was closed this afternoon to allow employes to make out reports for the first quarter of 1927. Fees for the first quarter will be turned over to the treasurer.

Retreat Before Cantonese ’

WS£ <4*****~.

Before (he victorious rush of the Cantonese forces, the armies of North China quickly melted away. Here is pictured the flight of a Chinese regiment along the road near Hangchow. A great hole where the road was shelled is shown in the center of the picture.

THE INDIANAPOLIS TIMES

Increased Prices in All Pens Except Sheep and Lamb Department. —Hog Price Range— March. Bulk. Top Receipts. 24. 11.50faH2.25 12.25 4.500 25. [email protected] 12.25 5.000 26. 11.40 ffi 12.15 12.25 2.500 28. 11.15 m 12.00 12.00 4.000 29. 11.10 0 11 85 11.85 5.500 30 10.90 0 11.60 11.60 5.000 31. 11.15011.75 11.85 2.600 Receiving a run only half that of Wednesday the hog market at the Indianapolis Union Stockyard advanced 25 cents on the hundredweight today. Jn some spots the increase was even greater. The gain here was better than at Chicago, where priced moved up 10 to 15 cents. The day’s receipts, estimated 2,500 were offered witli 869 holdovers. Most trading was at [email protected], the top $11.85. Medium light weights registered the best advance. Hog Price Range Meat animals weighing 130-160 pounds went at [email protected]; 160-250 pounds, [email protected]; 250 pounds up, $11.30 down. Tacking sows went up 25 cents to [email protected]. Pigs were rated at $11.75 and downward. Cattle were steady to 15 cents higher, receipts figuring about 900. The new quotations were: Beef steers, [email protected] and beef cows. [email protected]. Low cutters and critter cows and bulk stock and feeder steers continued selling at the previous levels of [email protected] and s7® 8.25, respectively. - Another Gain Better prices were also effective in the calf market, which was strong to higher. The bulk of the 600head run sold at sls and downward; best vealers brought $15.50. The sheep and lamb branch was about staedy. A few native wooled lambs went at sl6 down and some clipped lambs at $15.25. Top fat lambs were still quotable at $16.50; bulk fat lambs. $15@16, and bulk cull lambs, s9® 11. „ —Hogs— Receipts, 2.500: market higher. 90 130 lbs $11,004)11.75 130-160 lbs 11.50(0 11.60 160-200 lbs 1 1.60 '<( 11.85 200-250 lbs 11.15*-11.75 250 lbs. up [email protected] —Cattle— Receipts. 900: market steady to higher. _ Reef steers .. . $9.35*a10.3. Hulk stock and feeder steers 7.00 M 8 -•> Beef cows 6.00 4) 7.75 Low cutters and cutter cows 4.25@ 0.2a —Calves— Receipts. 600: market strong to higher. Rest vealfrg sl%<s*) la.-6 Heavy calves 6.00@ J.oO -SheepReceipts. 100: market about steady Ton fat lambs $1 U'otable Fulk fat lamhs 1 Ico Bulk cull lamb* 9.00 @ll.OO Other Livestock Bn United Press CHICAGO. March 31 —Cattle—Receipts. 11.000: generally steady trading on all killing classes: tea’ers. 50c lower: Stocker* and feeders, dull: weak to 25e lower for the week: weighty steer* more active than light kinds: some elownes* and weakncss oe kinds scaling under sl9: no strictly choice heavies here: best. $13.25: several load*. $19.75 (u 13.50: kinds at inside price being very rough, but fat and scaling around 1.300 pounds; few shipucr kinds upward to sl3 early, now mostly 912.50® 13. Sheep—Receipts. 12.909; fat lamb* opening very slow, weak to •round 15e lower Jhan Wednesday s close: few early sales wooled lambs. $15,75 0 Hi. 25; choice handy and medium weight wooled skins held around $16.50; package of good around 50 pound nati - e string lamb', unsold on a S2O bid: no clipped lambs sold; choice handy weight clippers held above, $15.35: sheep, strong to 25c higher: desirable fat ewe*. $9,500 10.25; odd Ili ad choice .upward to $10.59: feeding and shearing iambs. unchanged; medium to good finishers. $14,254(14.75: good shearing lambs held above 915. Hoes —Receipts. 22.000: market, early market i(l(K 15c up: heavyweights 510.35® 19.00; nnili umweirht-. 910.50 4t 11.50; lightweights. 819.85® 1 1.80: light light*. $10.75@ 11.80: packing sow*. $9.350 10: ■daughter pigs, $19,854/ 11.75. Bit United Press CINCINNATI. March 31.—Hogs Rereads. 3.400: holdovers. 1.406; market, .(round steady: 250-350 lbs. $10.2.5 0 11.25: 200 250 lbs.. 911.254i 11.75; 169799 lbs.. $11,654/11.75: 130-169 ibs.. *11504/11.65: 90-130 lbs.. $lO 4(11.95: packing sows. $94(9.75. Cattle Reeripis. 459: calves 759. market, quiet, steady: beet sters. $8 4/10.50: light, yearling steer* and heifers, $7,504)19; beef cows, $5,504/ 7.50: low cutters and cutter cow*. $4 4/5.75: vealers. $94(14; heavy calves, $64i11: hulk stock and feeder steers *64(8. Sheen —Receipts. 150: mar lot steady; top fat lambs $16.50: bulk fat lambs $134(16.50 bulk cull lambs, $8 4). 12. built fat ewes. $5 @B. Bn Times Special LOUISVILLE. March 31—Hogs Rrsll.ls. Cattle—Receipts, :tOO; market steady. Calves—Receipts. 250: market steady: good" to choir*'. $10.50® 12.50; medium to good, $8.50 @10.59: outs. $8.60 down. Sheep—Receipts, 50: market steady: top iambs. $13014; seconds. $104(12; sheep. 960 7. Bn United Press EAST BUFFALO. March 31—Hogs— Receipts. 600: holdovers 1.401: market 100 15c higher; 259 to 350 lbs.. $10,554) 11.50; 209 to 250 lbs., $11.40011.00; 169 to 200 tbs., $11.850 12.40; 130 to 160 ibs.. $12.25 @ 12.50; 90 to 130 lbs.. $12.400 12.65: parking sows. $9,504) 10.25. Cattlp—Receipts. 200: calves, 400: market strong, calves steady': heef steer*. $9.25010.25: light yearling steers and heifers. $11.50: vealers, $15.50 0 16. Sheep —Receipts. 800: market weak, 25c lower: clipped lambs. $15015.25. Bn United Press CLEVELAND. March 31.—Hogs Receipt*. 1,809. market 1041 25c lower: 250350 lbs . $10,50 4)11: 200-260 Ibs.. sll4O 12; 160-200 lbs.. $11,854)12.25: 139-160 Ibs.. $124/ 12.25: 90-130 Ibs.. $12012.25: packing sows. $9.50@ 10. Cattle Receipts. 300: calves 300: market slow, steady: beef steers. $8.75489.50: light yearling steers and heifers. $009.50' beef cows. $64( 7.25: low cutters and cutter cows. $4,25 4(4.75: vealers, sls @l6. cheep—Receipts. 1,500. market weak to 25c lower: top fat Jambs. sls: bulk fat lambs. $14,50 0.15: bulk cull lambs. $lO @12.50; bulk fat ewes, $6 @7. Bn United Press EAST ST. LOUIS, March 31.—Hoes Receipts, ,10.000: market active; 250 to 3.59 lbs., $10.05011.25; 209 to 250 lbs.. $114(11.69: 169 to 290 Ibs.. $11,604/ 11.90: 139 to 169 lb*.. St 1.250 11.90: 90 to 130 lb*., $10.75 011.65; packing sows, $9..504/. 10. Cattle—Receipts. 1,500: market for steers steady: beef steers. $8,404) 19.49: light yearling steers and heifers. $7,504)9.59: beef cows. $6.254(. 7.60 : low cutters and cutter cows. $4.2505.50; vealers. sl4; heavy calves. $6 09: bulk stoeker and feeder steers. $7.40 0 8.25. Sheep—Receipts, 500; market nominally steady: ton fat lambs. $16.50: bulk tat lamb*. 916® 16.25: bulk cull lambs. sl2 @12.50: built fat ewes. $9 @9.50. Bit United Press PITTSBURGH. March 31.—Hogs—Receipts. 500: market fairly active, higher: 250-359 lbs sllO 11.50: 200-250 Ibs.. 511.500 12.10: 160-209 Ibs.. $12.1040 12.35: 130-160 lbs. $12.250 12.30: 90130 Ibs.. $12,254/ 12.35: packing sows. $9.250.0.76. Cattle —Receipts. calves 150; market steady: beef steer*. s94c 10.75: vealers. $154)16. Sheep—Receipts. 750: market steady to higher: top fat lambs, wooled. sl7. bulk cull lambs. $8 0! 10.50: clipper. $15.25. AD MEN HEAR J. L. MAHIN Collier Vice President Commends Newspaper for Censorship. John Lee Mahin, Barron G. Collier Advertising Company vice president, spoke before the Indianapolis Advertising Club's luncheon meeting today at the Spinlc-Arms. day at the Spink-Arms. Mahin, speaking on "Quality Mediums for Advertising,’’ complimented newspapers for driving “the quack, the exploiter of the public, the dishonest stock, seller and the cure-all advertiser, into the discard."

STOCKS DEMONSTRATE UNDERLYING STRENGTH Market Conditions Allow Shaking Off Selling Wave — Carriers Hold Up as Others Are Depressed.

By Elmer C. Waizer, Manager United Press Financial Service. NEW YORK, March 31.—Stocks gave a demonstration of the underlying strength of the entire market Wednesday when they succeeded in shaking off a wave of selling which had cut into the entire list, many issues recovering a considerable part of their losses in the last half hour of trading. The market closed very Irregularly, however, with losses outnumbering gains. But none of the declines were serious or of large proportions, while the gains ran up to substantial figures in several cases. Railroad shares proved a stanch backbone for the list, holding firm while industrials were depressed and specialties suffered severe losses. Oils and motors were under pressure most of the day. Car loadings again exceeded a million for the second consecutive week, and most of the increase was due to other than coal hauling. This indication of the country’s business offset bearish attacks which cropped out from time to time and in the end was able to overcome opposition. What of Future? Just what the market faces in the near future is problematical. Stocks have risen to a high point and many are looking for a break. On the other hand, there is an ample supply of money available for stock market purposes and vast amounts seeking investment. Month-end requirements which will require a half billion are keeping the call rate stiff. Wednesday the rate was 4% per cent compared with 5*4 per cent last year. It is expected that when the demand eases for funds at the banks, the figure will move back to 4 per cent again. Missouri Pacific issues rose sharply on the strength of the directors' meeting held Tuesday, results of which were not divulged. The street was looking for some favorable action on preferred accumulations, and the preferred issue jumped up 5Vi points for the day. Erie was strong, as were Kansas City Southern, Norfolk & Western, St. Paul and New Haven, B. & O. and Delaware & Hudson lost. Wheeling & Lake Erie appeared on the tape for the first tim in several days, gaining 6 points on a single sale. Ease in Steel General Motors v;as under selling pressure throughout the day, but held up fairly well, yielding only 2 points. United States Steel was buoyed up somewhat by optimistic steel reviews, but eased more than a point on private estimatej of the company’s production, which were placed at 99% per cent of capacity, compared with 100 per cent a week ago. Dodge Brothers stocks were down sharply. Pan-American Western issues broke on news that the dividends would lie passed. Mack Truck, American Smelting, American Record Payments to Be Made Friday Bn United Press NEW YORK, March 31.—One of the largest payments to Investors on record will come tomorrow when more than $500,000,000 will be distributed in dividends and Interest by American corporations. At least 500 different stock issues will pay regular dividends and more than thirty will pay extra. The largest extra dividend is that of S6O a share on the common stock of Pratt & Whitney, manufacturers of aircraft. Others include Childs Company, Coca-Cola, Pere Marquette, Humble Oil & Gas, American Safety Razor, St. Louis & San Francisco, Singer Sewing Machine, United Fruit and Midland Steel. Preparations for heavy transfers have been reflected this week in heavy calling of loans by the banks. Withdrawals amounted yesterday to about $25,000,000.

Dry Agents Tried as Slayers

( ——

Ernest I*. Benway and George B. Pratt (below), prohibition agents, are on trial in Federal Court at Detroit charged with the deatli of William Neidermeier, aged mail carrier of Soutli RoekVvood, Midi. Neidermeier and a friend were duck hunting in December wiien their boat was tired on.

Sugar, Baldwin, Dupont, Famous Players, Houston Oil, Hudson Motors also weakened to nearly 3 points. Montana Power continued strong, advancing 1% points. While shorts were selling and longs were taking profits in the stock market a somewhat similar condition was noted in the curb market, where irregularity prevailed to the close with South American oils under particular pressure. On the bond market City of Rom 6Vis continued to attract attention and treasury issues firmed up, with the exception of United States 4s. Cotton and wheat both sold off on fair weather predictions. European currencies were steady in foreign exchange, Canadian premium was reduced and Chinese currencies advanced with the price of silver.

DUTY 10 OUST DEARTH IS PLEA (Continued From Page 1) of the Senators are required to convict. The question of secret or open ballot on guilt or innocence may have to be settled before the vote is taken. Under the United States Senate rules, adopted for the trial, balloting is to be open, although discussion preceding the vote may or may not be in executive session. Among those who are advocating a secret ballot, with no public announcement except the result, is Senator L. G. Bradford of South Bend. He argues that the Senators are sitting as jurors, not judges, and that the public is not entitled to knew how each juror votes. Jurors or Judges Others take the position that the Senate is a court and that the members are sitting as judges and should render their verdict in the open. It is probable that a vote to settle the matter will be taken by the Senate at the close of arguments. The fact that the question is raised at all, brings the inference that the decision may have a bearing on the result. Many Senators are of the opinion that vote should be taken immediately after the closing arguments and that the Senate should not go into executive session at all. Senate rules would limit discussion to fifteen minutes for each Senator. Permission can be given to extend closing arguments more than the two and one-liaif-hour limit, but this is considered unlikriy. Agents of People "You are here as agents of the people, exerting the powers invested in this body by the Constitution and your plain duty is to see that justice is done," Representative Sallwasser, La Porte, told the Senators in the opening sti tement for the House board of managers. "I will not touch upon your right to sit, as that matter has been already settled. That such power Is lodged in the Legislature is backed not only by law but by hundreds of years of tradition. You arc the representatives of the people. "Impeachment is a matter outside statute law and the contention that a crime must be indictable before it can be impeachable does not hold. Corruption and high crime, mentioned as causes for impeachment do not have a technical meaning. They are terms used to emphasize the im- . portance of impeachment procedure. As protectors of the people you can not be shackled by technicalities, when evidence is as conclusive as it is in this case.’’ Salwasser then took lip the charges and developed them point by point from the evidence. He pointed out that confiscation of newspapers was admitted by Judge Dearth on the witness stand and discounted the legal justification that they were libelous per se. Reading the statute governing such contention he pointed out that it applies to lewd pictures, weapons and burglar tools, but that no paper can be declared libelous until it has been proven so. He retold the story of how forty newsboys were herded into the Dearth court on the judge’s order and their papers taken away. He cited the testimony of Johnnie Raines, whom a policeman threatened to shoot.

“Obvious Abuse” “All of this procedure was without warrant,” Salwassor declared. “Could any private citizen order such a thing done if a newspaper printed an article which he considered libelous? Or was this an obvious abuse of power by a judge sitting on the bench?” Reading the statute governing jury commissioners and pointing out that they must be freeholders, he pointed out that Jacob Cavanaugh was admittedly appointed to the position by Dearth and had put names of prospective jurors in the box before he was deeded a twenty-foot lot by the judge to technically comply with the freeholder requirement. “Was Cavanaugh the only Democrat in Muncie qualified for this position? Was there none that owned property, so that the judge might not have to deed them a small plot and thereby cause suspicion. All evidence indicates that Dearth wanted Cavanaugh because he could influence him in jury selection. Illegal .Jurors “It was Cavanaugh that carried a hook of prospective jurors’ names. It was he that put them into the box and caused scores to be drawn that were not qualified, as their names were not on the tax duplicate. Hampton was formerly jury commis* sioner with Cavanaugh, and from his own testimony it was brought out that he didn't know what the box looked like.” Sallwasser then called attention to, the testimony of the judge that he tat in an important murder case, the' “One-Arm” Wolf trial, and made out, a list of names to which he couldsend copies of a speech he made three years before. The judge de-

nled that this was a list of prospective jurors for the trial, which had been the State’s contention. Sallwasser also called attention to the testimony of Jury Foreman Jester that he was told by the judge to bring impeachment charges against Sheriff McAuley or "I’ll get a jury that will,” and how later the charges were quashed on the judge’s own request. "If McAuley was guilty, as the judge himself testified before that grand jury, he should have been impeached. Quashing the charges indicates that the defendant is unqualified to sit as a judge. The power of removal lies only In this court. Under the sanctity of your oath it is your duty to mete out justice in this case and remove Judge Dearth." While many of the Senators sat munching apples, Former Supreme Court Judge Lairy began his argument for the defense. Pointing to the fact that many of the Senators were not lawyers, he started on a long explanation that they were the judges of the law and the facts in the case. Quotes Law Explaining that he thought the Senate’s action in overruling the demurrer filed by the counsel for Dearth was not conclusive and that they still had the right to say that their meeting and hearing of the impeachment was unconstitutional, Lairy quoted law on the legality of the Senate’s action in hearing the case. He brought out the fact that in his opinion even though the Senate voted to convict, they had no right to order the removal of the judge. Therefore, he contended, the whole action was not valid. Lairy compared the present trial to that of Christ before Pilate. Representative William Henry Harrison of Indianapolis, speaking for the prosecution, took up the constitutionality of the law under which the impeachment proceedings were brought and tried. He dwelled on the testimony of various witnesses who had told of wrong acts on the part of Dearth. Taking up Van Nuys’ argument in his opening statement, which Dearth had sought to justify by innuendo, that Dale had printed an editorial attacking the chastity of the judge's, daughter, Harrison said: "Had this charge placed at the door of Dale by Mr. Van Nuys been true then he would not be worthy of any consideration. Then he would indeed, be of a low type. No Evidence "Not one scintilla of evidence has been introduced here to substantiate that charge. What was proven and admitted by the defendant is that Dale printed a fine sympathetic article. "No witnesses were introduced to substantiate the charge made by counsel for the defendant and all that Dearth would swear to was the Dale has said, ‘when the truth is known there will be another side to it’ —but even that they did not prove. "We must make the judiciary an abiding place only for highly respected citizens. “Have we any assurance that Judge Dearth will reform if you let him go free. Will he reform in fact or will be reform as he said Sheriff Harry McAuley did, by not doing a thing to change conditions. “If you Senators leave Clarence W. Dearth on the bench the Delaware Circuit Court then you might as well inscribe over the door of that court ‘Abandon hope all ye who enter here.’ ” Because he hai no vote in the matter, Lieut. Go r. F. Harold Van Orman was absent from the bench the greater part of the morning argument. Long Resentment Impeachment is the culmination of a rising tide of resentment against alleged jury Irregularities in the Dearth court which has been gaining momentum since the judge took the bench in 1922. An overt act of the judge In suppressing an issue of the Muncie PostDemocrat on Feb. 19, by herding forty newsboys into the Courthouse and taking their papers away, furnished the climax. "Impeach This Mussolini of Muucie" was the headline over a front page editorial in The Indianapolis Times and a plea was Tnado for the constitutional guarantee of freedom of the press. Soon this cry was heard from the floor of the House of Representatives as Representative John W. Scott (Rep.) Gary, presented a petition signed by hundreds of Muncie citizens demanding that Dearth be impeached. Public hearing on the matter was held before Judiciary A Committee of the House, Feb. 28. and impeachment was voted March 2. The House board of managers presented tho charges to the Senate on March 4. They were accepted March 5 and date of trial set for March 15. Gilliom Against Governor Jackson, upon advice of Attorney General Arthur L. Gilliom. refused to recognize the procedure and permitted Dearth to remain on the bench. The judge appeared at the trial, however, and has been on hand daily. He spent most of Tuesday and Wednesday morning on tho stand in defense of himself. He admitted ordering newspapers seized. Testimony brought out that Judge Dearth sold an almost worthless plot of ground, twenty feet square, to Jacob Cavanaugh that he might he qualified for jury commissioner, and that jurors were called by phone from lists. Many were not on tho tax duplicates and nearly all were political, social or religious friends of the court, the prosecution contended. One jury in a bootleg case was composed entirely of women, most of whom were members A the W. C. T. U. and the Anti-Saloon League. The judge ordered a jury to Impeach Sheriff McAuley and then later advised the prosecutor to drop the charges. Cavanaugh took the stand and proved that he didn’t know what a freeholder was although he has been jury commissioner since 1922. Denies Irregularities The defense was one of justification, rather than denial. Members of the juries in his court were church members and "good people,” Dearth contended. He denied, however, he ever attempted to influence selection of jury lists, or the verdicts of juries. Character witnesses closed the testimony Wednesday. These were for both sides and indcluded Muncie ministers who testified that the judge’s reputation for honesty and integrity Is “bad.”

PAGE 11

CREAMERY BUTTfR ADVANCES 1 CENT Is 59 Cents a Pound on tlity Market Today. Chives, which were 25 cenjts a plant when first received less thtiin a month ago, sold for 20 cents at'the city market today. Honeydew melons had dropped from their recent j.rice of $1.25 each to sl. 1 Advancing 1 cent on the piund, creamery butter was 59 cents. | The country variety was unchanged, selling at 63 cents. Poultry continues, to be scarce and dealers say tills will continue until the 1927 supply is available. Only a few spring fries have been on the stands so far, selling at 90 cents a pound. Strawberries remained 50 cents a quart. Almonds and paper shell pc cans still sold at $1 a pound, sassafras 5 cents a bunch and head lettuce 10 to 20 cents a head. SEE, HEAR RADIO NEAR FOR PUBLIC Inventor Expects to Have New Device Ready Within Few Months. Bu United Press WASHINGTON, March 31.—An apparatus which will revolutionize the radio industry and bring the events of the world before the eyes as well as to the ears of the radio audience will be offered to the public within a few months, C. Francis Jenkins, local radio engineer and inventor, told the United Press today in an exclusive interview. Within a period of months, Jenkins claims, his “radio vision” invention will give the public a chance to see V’kßt it is hearing over the ether, “It won’t be long now,” Jenkins said, “before baseball games, inaugural ceremonies and many other events can bo seen by the radio public. There is no question about the success of the invention. ’’ An arrangement which Jenkins has, with the Navy Department for transmitting pictures of weather maps to ships at sea has retarded his experiments with the vision apparatus. Within a week, however, the map trarismitting will be done by an assistant and Jenkins will resume work on the device for sending motion pictures through the air. FLEET IN PLAY BATTLE American Warships Maneuvering in Carribean Sea, Bn United l’ress WITH THE U. S. FLEET IN CARIBBEAN WATERS, March 31. —The battle fleet today is in tho midst of a far flung mimic engagement in these southern waters with various units of an attacking force, representing an imagined enemy, seeking to break through the defense, representing tho American fleet. As the opposing sides are jockeying about the problem has become more complex. The maneuvering has developed far more strategy than was contemplated at the outset. The problem is being worked by both sides with great ability so that keen interest has been aroused in the outcome. COAL STRIKE IJJOMS PARlS—Representatives of mine owners and miners failed to reach an agreement at a wage conference at Douai, and it was planned to put the deadlock before the minister of labor for arbitration. A general tieup of all French coal mines Is in prospect unless an agreement can be reached.

BABY CHICKS Prepaid. Rooks. White Rooks. $. C. Reds, White LeKhorns, White Wyandottes. sl2 per 100; fancy. sls per 100: assorted. $lO. We also have 10.000 brooder chicks at Thorntown treated with our Ka.o tablets. Pekin ducklings. 30c each; fa ley, 40c each. Order flora this ad Call , ]s or POmo and get them at ROAKRS HATCHERV, Indianapolis. Ind.. Tele. Rllev 5470. ROYER S HATCHERY, Thorntown. Ind.. Tele. 2622. Wardrobe Trunks Unredeemed as low as > $19.50. Field Jewelry & Loan Cos. 18 So. Illinois St. Carry no xeroniU. No factory re Jects. Nothing bnt quality Hen’s Wear at lowest prices, BUSINESS WANTS YOU Prepare definitely and you can go to work at once. For particulars sea, write or telephone Fred W. Case, Principal. Pennsylvania and Vermont, First Door North Y. W. C. A.. Indianapolis. ra Payments as Low as $1 a Week THE UNION TIRE CO. Geo. Medlam, Pres, i MA in 6273 j Cor. S.all. and Georgia St. OiA Till 8:00 p. in.