Indianapolis Times, Volume 39, Number 138, Indianapolis, Marion County, 18 October 1927 — Page 12

PAGE 12

STOCKS SHOW SLOT RALLY AFTER^START Sweeping Declines in General List Force Heavy Liquidation. /

Average Stock Prices

Average of twenty industrials Monday was 186.81. off 3.37. Average of twenty rails was 139.06. off 1.48. Average of forty be—-.s was —.63, off .03. Bn United Press NEW YORK, Oct. 18.—The stock market was in a weakened position at the outset today, with prices lower. Rallying tendencies made themselves felt in various sections soon after the opening, however, and better levels resulted in some specials. General Motors and other motoi* shares were still nervous, due to the latest blast on Ford prospects. General Motors opened at. 134 off Vtl then dropped to 134 li. Yellow Truck also sold down fractionally. as did Studebaker and several others of the group. United States Steel reacted a point to 142%, while Sears-Roebuck, other mercantile issues, oils and utilities sold off. Some of the oils strengthened particularly Phillips Pete, which is to profit by a large southwestern natural gas merger. Pathe featured amusements with a six-point advance. Monday’s sweeping declines in the general list forced liquidation in many weakly margined accounts in early dealings. Selling of this kind subjected the general list to further heavy pressure in early dealings and new lows on the movement Were rached by principal industrials. Outside news was generally favorable, especially a forecast by Senator Smoot of a tax reduction of $300,000,000, in the next Congress. The market, however, was too engrossed by developments within itself to pay attention to other factors. Considerable irregularity marked price movements around noon. Rallying tendencies in industrial leaders were fairly well maintained, but selling continued in various individual issues. Rails were held back by the expectation of September earning statements which will appear toward the end of the week. Car loadings last month were approximately 4 per cent below September, 1924. Consequently reports of various roads for the period will show somewhat lower gross and probably a considerably large reduction in net due to the higher wage scales. Interests bullish on the rails were inclined to suspend activities until the September statements were out of the way.

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were $4,599,000. Debits were $9,644,000. FOREIGN EXCHANGE BU United Press NEW YORK, Oct. 18—Foreign exchange opened steady. Demand sterling $4.86‘/2. off .00%; francs. 3.92%: lira, 5.46%; Belga, 13.92 c; marks, 23.86%c. s

MAMMOTH NATURAL GAS MERGER IS COMPLETED Property Affected Valued at $40,000,000; Serves 600 000 Persons. Ru United Press NEW YORK, Oct. 18.—What is termed one of the largest mergers of natural gas companies ever effected in the southwest has just been consummated, it was announced today. Negotiations have been completed whereby practically all the stpek of the Oklahoma Natural Gas Corporation in Texas and Kansas has been acquired by a new company to be known as the American Natural Gas Corporation. Properties embraced in the combination are valued at $40,000,000. The new company will serve a population of approximately 600,000 in Kansas, Oklahoma and Texas. PLAN MILL MERGER Sheet Rolling Mill Combination Valued at $20,000,000. Ay United Press YOUNGSTOWN, Ohio, Oct. 18.— Tentative agreemeent for .the merger of six central and eastern Ohio sheet rolling mill concerns, with assets of $20,000,000, has been reached, according to announcement today by Floyd A. Deahl, Cleveland investment banker. „ The companies, to be merged are the Thomas Sheet Steel Company, the Waddell Steel Company, the Falcon Steel Company, all at Niles, Ohio; the Mansfield Sheet and Tin Plate Company, Mansfield; the Empire Steel Company, Cleveland, and the Ashtabula Steel Company, Ashtabula. DISCUSS MANAGER NEED Tenth Ward Club Will Consider Issue at Meeting Wednesday. “Why Indianapolis Needs the City Manager Form of Government Now” will be discussed at a meeting of the Tenth Ward City Manager Club at Odd Fellows Hall, Shelby and Pleasant Sts., Wednesday evening. J. W. Esterline and Claude H. Anderson, leaders of the Indianapolis City Manager League, will speak. Officers of the Tenth Ward Club are: President, E. E. Heller; vice president, Mrs. Bessie Reed, and secretary, W. F. Weiland. To Pay Dividend Rtt United Press WASHINGTON, Oct. 18.—The Interstate Commerce Commission today authorized the Lake Superior & Ishpeming railroad to issue $2,856,000 of capital stock to be distributed as a 200 per cent stock liividend.

New York Stocks

Thomson & McKinnon'

—Oct. 18— Railroads— Prev. High. Lois'. Close, close. Atchison 189% 188% 189% 188% At Coast L 191 % 191 Vs 191 ‘A 191 Vs B & O 119 118% 118% 'll9 Can Pacific 192 191 191V2 193 C & O 207% 206 207 208% C & NW 9214 91% 92 92% C R & P 104% 103% 104 10414 Del & Hud 192 % 190 % 190% 191% Del & Lack ...131 ... 131 131 Erie 68 66% 67 68% Erie Ist pfd ... 61Vs ... 61 61% Gt No pfd 98% ... 9814 99 Lehigh Val 102% ... 102% 103 K C South 6314 ... 6314 62% L & N 152 MK & T 44% .. . 44% 45 Mo Pac pfd 107'% 107 107 Vs 107% N Y Cen 162% 462 162% 162% N Y N H & H 52% 52% 52% 52% No Pacific .... 95% ... 95 95% Nor & W 187% ... 18714 187% Pere Marq 130 ... 130 130% Pcnnsy 66% 66 66 Vs 60% Reading 112% 112% 112% 113 Southern Ry ...132% 131% 132 133 Southern Pac ..122% 12114 122% 122 St Paul 16% 16% 16% 16% St Paul pfd... 30 29% 30 30% St L & S W .. 79% ... 79 79% St L& S P 111% 111 111 111% Union Pac A .. .189% 188 188% 189% Wabash 69% 69'% 69% 70 Wabash pfd ... 94% ... 94% 9514 Rubbers— Ajax 8 Vs 8 >8 8 Fisk 16% 15% 16% 15% Goodrich 79 78 V 8 79 77 Goodyear 60 % 59 Vs 6014 60% Kelly-Spg 27% 26% 27% 26% U S Rubber ... 54 51% 53%' 51% Equipments— Am Car & F...100 ... 997 100% Am Loco 105% Am Stl Fd 49% 49 Vs 49% 49% Bald Loco 249% 248 249 249 Gen Elec 132% 131% 132 131% Lima , 61 N Y Air 8k.... *O% ... 40% 40% Pres Stl Car 69% Pullman 78% 78% 78% 79% West Airb 45 ... 44% 45% West Elec 82% 81% 81% 82-/2 Steels— Bethlehem .... 54% 54% 54% 54% Colo Fuel 81% 79% 80% 79% Crucible 84% ... 84 84% Gulf St Stl 40% ... 40% 41 Vs Inland Stl 51 Phil RC&I .. 40 ... 39% 39% Rep Stl 61 Sloss-Shef 121 U S Steel 144 142% 143% 143% Alloy 26% ... 26% 26% Vanadium .... 53 % ... 53 53% Motors— Amer Bosch ... 22% ... 22% 22% Chandler 19% ... 19 % 19% Chrysler 54% 54 54% 54% Cont Motor ... •10 ... 10 10 Dodge 15% 14% 14% 14% Gabriel ; ... 36% ... 36% 36% General- Motof .135% 134>/s 135 135 Hudson 71% 70 71 70 Hupp 18 ... 18 18 Jordan 15% 15 15 15 Mack 106 105>/s 105% 106 Martin Parry 17% Moon ...... 6% Nash 86% 86 86% 86% Packard ... 48% 47% 47'% 47% Peerless 22% Pierce Arrow... 9% 9Vs 9Vs Studebaker 55% 54'% 55 55 Stewart Warner 70% 69% 70 70% Timken 118% 116% 117% 117 Willvs-Over ... 14% ... 14% 14% White oMtor ... 39 38 38 38Vi Mining— Amer Smelt ...165% 164% 165% 164*% Anaconda 46% ... 46% 46% Cer De Pas ... 62% 62% 62% 62'% Inspir . 17% ... 17% 17% Int Nickel 66% 66% 66% 66% Kennecott .... 73% 73% 73*% 73% Magma 44% ... 44% 44% Tex G& S .... 73% 73% 73% 74 U S Smelt ..-. 38 ... 38 38 Oils— Atl Rfg 113% ... 118% 114 Cal Pete 20 Vs ?.. 20% 20% Freeport Texas. 89Vi 87% 88Vs 89% Houston 169% 166% 169 166 Jhdpt Oil 20Vs ... 20% 20Vi Marland C 33 32% 32% 33 Mid C Pete 26'/a 25% 26 26 Lago 32% ... 32% 32% P-Am Pete (81. 48% 47% 48 48% Pro and Refg... 26% ... 26% 26% Phil Pete 39% 38% 39 39 Onion Oil 42% ... 42% 42% Pure Oil 25% 25 25 25 Royal Dutch ... 46 ... 46 46% Shell 25% ... 25% 25 Sinclair 15% 15% 15% 15% Skelly 25% ... 25% 25% S O of Cal 53 ... 53 53 SOofNJ 38% 38% 38% 38% SOOf N Y 30% ... 30% 30% Texas Cos 49% ... 49% 49% Trans Pete 7% ... 7% 7% White Eagle ~ ™ 22 Industrials— Adv Rumely 9% Allis Chaim 113% ... 118% 113% Allied Chem ....153'% ... 152% 152 Armour (A) ... 95/. Amer Can 66% 64% 65 65% Amer H L iiy. Am H L pfd 61 Am Safety R 56 ... 56 56% Am Woolen 21% Am Linseed 54% 53% 54 54% Coca Cola 123 122% 123 123% Cont Can 76% ... 76% 76% Cert Prods ... sjs,. Dav Chem 37% 37% 37% 37% Dupont 331% 330% 331 330 Famous Players 107% 107 107'% 108 Gen Asphalt .... 82% 81% 82 81% Int C Engr 46% 45% 46 46% Int Paper 63% 63 63% 64 Int Harv 214% 213 214 215 May D Stores... 85 84% 85 85 Mont Ward .... 80% 79% 80 80% Nat Lead 117 ... 117 119 Owen Bottle ...81% ... 79% 80% Radio 68 67 67% 67 Real Silk 24 ... 23% 24 Rem Type 25% 24 Vi 25% 25% Sears-Roeb 74% 74 74 74 United Drg 188 186 % 187 186 Unlv Pipe 27 ... 27 27% U S C I P 205 203 Vi 205 205 U S In A1 74 Woolworth 183 182% 183% 183% Utilities— Am T & T 180% 180 180 180% Am Express ...165 ... 165 166% Am W W 61 59 59% 62 Brklyn Man ... 59% 58% 59 58% Col Gs & E 1... 90Vi 89% 90Vi 90% Cons Gas 114% 114 114% 114V4 Interboro 31 No Am Cos 60% 60 60Vi 01 Peoples G 154 ... 154 154 Phila Cos 106% S Gas & E 1... 61% 61 Vs 61% 61% West Union v-160 ... 160 160 Shipping— Am In Corp... 52 51 51% 52 Am S Sc C 3% Atlantic G 33 % In M M pfd.... 37 36% 37 36% United Fr 139 ... 139 139 Foods— Am Sugar 82 80 81% 80% A B Sugar 17% Austin N 5Vi Beech N 67% 66% 67% 67% Calif Pkg 65% ... 05 65% Corn Prods ... 57% 57 57% 57% Cuba C pfd.... 31 30% 31 29% Cuba A Sug ... 21% Fleischmann .. 62 61% 62 62% Jewel Tea 71 70V, 71 71 Nat Biscuit ....144% 143% 143%X144% Punta Ale .... 32% ... 32% 33 Postum 115% 114 115 114% W Bk B 30% 29 30% 29% Tobaccos— Am Sums 65% ... 65% 66 Am Tob 148 ... 147% 149% Am T B 148% 147 Vi 148 148% Cons Cigars .. 78% ... 78% 79 Gen Cigars ... 68Vi 68 68Vi 68 Liggett 122'A ... 122% 122% Lorillard 36 ... 35% 36% R J Rey 148% Tob P B 95 94% 5 94% U Cig Stor 34% ... 34% 34% Schulte R 5... 52% ... 52% 52%

Local Wagon Wheat

Local (train elevators are paying $1.29 for No. 2 red wheat. Other grades are purchased on their merits. INSULL BUYS LIGHT CO. A. E. Fitkin Firm Gets $30,000,006 in Deal. Bv United Press NEW YORK, Oct. 18—Sale of the Inland Power and Light Corporation for $30,000,000 to Samuel Insull & Sons, Inc., was announced today by A. E. Fitkin, who indicated that he was "leaving the public utility operating field for good.” The firm of A. E. Fitkin & Cos. is to be continued as a general investment and stock exchange house, Kitkin having recently purchased an exchange seat for $240,000. Fitkin plans to leave for Europe Oct. 26 to establish foreign connections for his firm. Inland Power and Light Company operates in Missouri and Kansas. HENRY HALL RESIGNS, REPORT Bii United Press WASHINGTON, Oct. 18.—The reported resignation of Henry C. Hall, interstate commerce commissioner, has not been received at the White House, and no consideration has been given as to his successor, it was learned at the executive offices today.

PORKER PRICES . ARE IRREGULAR AT STOCKYARD Heavy Hogs Rule Higher While Lights Go Down. —Hog Price Range— Oct. Bulk. Tom Receipts. 11. 11.25012.00 12.0 ff 5.000 12. 11.25®12.10 12.10 4.500 13. 11.25(1/62.10 12.10 8.000 14. [email protected] 12.00 8.000 15. 11.25 @12.00 12.15 3.000 17. 11.90® 12.00 12.00 4,000 18. [email protected] 12.15 5.500 Porker prices were irregular today on the Indianapolis stock market. Light stuff went down; medium material was steady, and lights advanced. The general cattle trade was active and prices were strong. The calf market was steady. Sheep and lambs were generally 25c lower. Hog receipts were estimated at 5,500, with 297 holdovers. Increased demand and light supply forced the rise in heavy hogs. Hog Price Range Stuff weighing 180-210 pounds was 10c lower, mostly at 210-240 pounds were steady at $11.90@12; a few butcher hogs weighing 240-260 pounds were 10c higher at [email protected]; 250-350-pound stuff was steady to 10c higher at [email protected]. General cattle trade was active with prices strong. Best beef steers were Cows were mostly [email protected], with a few additional at $9. Heifers were $9 @11; low cutters [email protected]. 1 Plain beef steers sold over a range of $13.50@ 14.50. Receipts were 1,200. Calves Are Steady Calf market was steady with a $16.50 top and 600 in the pens. About 1,000 sheep and lambs forced the market 25c lower with a general run going at sl3@ 13.25. A few sold at $13.50. —Hogs— Receipts, 5,500; market Irregular. 90-130 lbs $ [email protected] 130-160 lbs 10.25® 11.50 160-200 lbs [email protected] 200 to 250 lbs [email protected] 250 lbs 11.75® 12.15 —Cattle— Receipts, 1,200; market strong. Beef steers $13.50® 16.25 Beef cows B.oo® 8.50 Low cutters and cutter cows.. 4.25® 5.50 Bulk Stocker and feeder steers 7.250 8.75 —Calves— Receipts. 600; market steady. Best vealers $16.00016.50 Heavy C3lves [email protected] —Sheep and Lambs— Receipts. 1,000; market lower. Top fat lambs $13.00 Bulk fat lambs 13.00® 13.25 Bulk cull lambs B.oo® 10.50 Fat ewes 4.50® 6.50 Other Livestock Bit United Press CHICAGO, Oc{. 18.—Cattle—Receipts. 10,000; fat steers strong; spots higher; she stock, steady to strong; bulls, weak; bidding lower on vealers; not much beef in steer run; Stockers and feeders fairly active at steady prices; better grades, $9 @10.25; best fed steers, early. $16.50: some ehld around sl7; Yeanlings, sl6; talking sl4 on vealers. Sheep—Receipts. 21.000; fat lambs, very slow, 15025 c lower than Monday’s; few early sales; most bids on native lambs, $13013.25; asking around $16.35 for best selection; good to choice range lambs, eligible at $13.50013.75; choice westerns held around sl4: few 100-125-lb. buck lambs, $11@,U.50; culls, [email protected]; sheep, steady; fat ewes. $5.50®6.25; feeding lambs fairly active, steady; early sales, $13.30@14; choice medium weight lambs held at $14.25. Hogs—(Soft or oily hogs and roasting pigs excluded)—Receipts. 26.000; market, mostly 10015 c lower; heavyweight, 250-350 lbs., medium to choice. $i0.90011.75; medium weight. 200250 lbs., medlu mto choice. $11.15® 11.75: lightweight, 160-200 lbs., common to choice, $10.75® 11.6 E; light lights. 130-160 lbs., common to choice, $9.50® 11.25; packing sows, smooth and rough. $9.50® 10.50. Bn Times Soecial LOUISVILLE. Oct. 18.—Hogs—Receipts. 700; market, 10c lower: tops. $11.65. Cattle—Receipts. 200: market, steady. Calves —Receipts, 200; market, steady; good to choice, [email protected]; medium to good, $8.50® 10.50; outs. $8.50 down. Sheep—Receipts, 1Q0: market, steady; top lambs, $11.50@12; seconds, s6@7; sheep, $305. Bm United Press CINCINNATI, Oct. 18.—Hogs—Receipts, 4,100: holdovers, 327; market steady: 250350 lbs., $11.25® 12: 200-250 lbs., $11.85® 12: 160-200 lbs . $11.50® 12; 130-160 lbs., [email protected]; 90-130 lbs., $8®11; packing sows, $9.75® 10.50. Cattle—Receipts. 350; calves, receipts 250; market steady; veals 50c up; beef steers, $9012.75; light yearling steers and heifers. $7012.50; beef cows. [email protected]; low cutter and cutter cows, [email protected]; vealers, $ 12®16; heavy calves. slo® 13.50; bulk stock and feeder steers. $8 @9.50. Sheep—Receipts, 600; market steady; top fat lambs, sl4; bulk fat lambs, sll @l4: bulk cull lambs, s7@9; bulk fat ewes, s4@6. Bn United Press CLEVELAND!. Oct. 18.—Hogs—Receipts. I, market, steady to strong; 250-350 lbs., $11.25012; 200-250 lbs., sl2® 12.10: 160-200 lbs.. $12012 10; 130-160 lbs.. $11.25 @l2; 90-130 lbs., $11011.25; packing sows. $9.50® 10. Cattle—Receipts. 250. Calves —Receipts, 390; market, cattle steady; calves, 50c down; beef steers. sß@9; beef cows, $6®7.75; low cutter and cutter cows,\ [email protected]; vealers. $14.500 17; heavy calves, sllOl4. Sheep—Receipts. 1,500; market, steady to strong; top fat lambs. sl4; bulk fat lambs. $13.50014; bulk cull lambs, $9.50@11; bulk ewes, [email protected]. B,u United Press v EAST BUFFALO, Oct. 18.—Hogs Receipts. 1,600; holdovers, 1,984; market steady to 10c down; 250-350 lbs., $11.25® 12.25; 200-250 lbs., $11.85012.25; 160-200 lbs.. $11.60® 12.10; 130-160 lbs.. $11,250 11. 90-130 lbs., $11011.50; packing sows, $10010.50. Cattle—Receipts, 100; calves, receipts 250; market steady, calves steady; vealers. [email protected]. Sheep—Receipts. 600; market steady: top fat lambs, sl4; bulk cull lambs, $10@11; bulk fat ewes, s6® 6.50. B,u United Press PITTSBURGH, Oct. 18.—Hogs—Receipts, I. market fairly active; 250-350 lbs., $11.75012:25 ; 200-250 lbs., $12.15012.25: 160-200 lbs.. $12012.25: 130-160 1b5..'511.50 @l2; 90-130 lbS., $11.25011.50; packing sows, $10.25011. Cattle Receipts none; calves, .receipts 100: market steady; beef steers, * $10.50012.25; vealers, $14.50@ 17.50. Sheep—Receipts. 700; market steady; top fat lambs, $14.25: bulk fat lambs, $12.50014.25; bulk cull lambs, SBOIO. Bn United Press TOLEDO, Oct. 18.—Hogs—Receipts, 350; market steady; heav'es, sll® 11.50; mediums, $11.65011.85; Yorkers. $11,500 11. good pigs, $10.65011. Cattle—Receipts,,lso: market steady: calves, receipts light: market steady. Sheep ana lambs— Receipts light; market steady.

In the Cotton Market

TBv Thomson & McKinnon) NEW VORK, Oct. 18.—There were sound reasons for buying cotton Monday and local traders felt sure of their ground. They overdid it and put the market down on themselves at the close. It is as dlVicult to put December above 21 cents as It Is to keep It below 20.50. COURTHOUSE IS ‘NAKED’ Red Tape Causes Delay of Clothes for Winter. Sullivan County has a beautiful new courthouse, but when it will be decorated and furnished is the problem confronting the commissioners. The State Tax Board has deadlocked the furnishing and decorating by refusing to approve the bond issue for the original bids. They asked n°w bids be received Nov. 9. The controversary is being investigated by the board of accounts and in the interim the courthouse faces the winter without any cclthes.

YHft iiNJjJLAinAjuOLIiS TIMES

In the Sugar Market

(By Thomson & McKinnon) NEW YORK, Oct. 18.—There Is much dissatisfaction with the slow progress being made In Cuba as to giving the new law full effect. The trade would undoubtedly be better pleased if a definite announcement were made one way or the other. Nevertheless, the expectation is the restriction decree will be signed very shortly and there Is an amount of firmness In the market based upon that expectation.

Commission‘Row

PRICE TO RETAILERS FRUITS Apples—Bos apples: Jonathans, $3.25® 7.75. Barrel apples: Jonathans, $6.50@8: Grimes, $7. Basket apples (40-lb. baskets); Jonathans, $2 25 02.75; Grimes, $2.50- W. Banana. $3; Lowells. $2: Delicious. $3.25 @4. Bananas—so6c lb. Berries—Cranberries. $6.50 one-half bbl. Casabas —California. $2.75 crate. Cocoanuts—Jamaica. $6 per 100; $2 per 25. Grapefruit—Porto Rican. [email protected] crate: Florida. $606.50 crate. . _ Grapes—California Tokays. $1.75@2 per lug: Michigan Concord. 70c. 12 Quarts; Lndvfingers. $2.75 25-lb. lug. Honeydew Melons —California, $2.50 crt. Lemons—California. $9.50010.50 crate. Limes—Jamaica, $3 per 100. Oranges—California. $5.5009.50 crate. Peaches—California. $2.75 box. Pears—New York Bartlets. $3 a bu.; California Bartlets. $4.2504.50 per box; California prickly. $1.50 box. Persian melons—California. $4 per crate. Persimmons—Japanese. $3.50 % bu.; Indiana. $1.75 crate. Prunes—ltalian. $2; one-half bu. Quinces—Michigan. $3.50 bu. VEGETABLES Bean—Stringless. $1.75®2.25 bu.; H. G. lima. 30c lb.; Kentucky Wonders. $1.25@ 1.73-bu. Beets—H. G.. $1.35 bu.: 30c doz. Cabbage—H. G.. 2%@3c lb. Carrotts—H. G.. 35c doz.; bulk, 75c@l bu. Cauliflower—Colorado, $1.90 crate. Celery—Michigan. Highball. 75c@$l crt.; Michigan. 35 0 50c bunch. $10125 flat crate. Celery Cabbage—sl doz. Corn—H. G.. 15030 c doz. Cucumbers —H. G.. 50®75c doz. Eggplant—H. G.. $2.25 0 2.50 doz. Endive—4oc doz. Garlic—California. 15c lb. Kale—H. G.. 65c bu. Lettuce-jCallfornia. head. $3.75@4 crate; H. G. lear 75c 15 lbs. Mangoes—H. G., $1.2501.50 bu. Onions—SDanish. $2.2502.50 crate: Indiana or Ohio yellow. [email protected] cwt.: pickling, 90c 10 lbs. Parsley—H. G., 35c per dozen. Peas—Tl. G., $5 crate. Peppers—Finger. 90c. 5 lbs. Potatoes—Michigan. $3 150 lbs.: Idahoes, $2.50 110 lbs.,: Red River Early Ohlos. $2.40 120 lbs.; Minnesota whites. $2.75 150 lbs.; Minnesota Ohlos. $2.75 150 lbs. ■Radishes —H. G.. white. 35c: red. 35c: H. G. buttons, 40® 50c doz. Rutabagas—sl.so per bu. Spinach—H. G.. 85c bu. Squash—Hub 'ard. $3 bbl.: white summer. $1.25 bu. Sweet Potatoes—Red Stars. $3 bbl. Tomatoes —H. G.. 50c 15 lbs.; $1.25® 1.50 bu. Turivips—H. G., $1 bu. OYSTERS Standards—s2.so gal. SAVINGS AND TRUST CO. ISSUES LAND BONDS Total Is $300,000 and Both Are Callable Nov. 1, 1937. Two large Issues of joint stock land bank bonds were announced Monday by the bond department of the Fletcher Savings and Trust Company. The two issues total $600,000. Os the total $300,000 were new bonds of the Fletcher Joint Stock Land Ban£ bearing 4% per cent interest and selling at 102% to yield 4.18 per cent. The other issue of bonds placed on the general market by the trust company was $300,000 on First Joint Stock Land Bank of Ft. Wayne bonds bearing 4% per cent at a price of 102 to yield 4.25 per cent. The Fletcher Joint Stock Land Bank Bonds are callable Nov. 1, 1927, or at any interest date thereafter, and are tn denominations from SI,OOO to SIOO. The bonds of the Ft. Wayne bank are similar.

ORATORICAL CONTEST PLANS ARE APPROVED State Education Board Backs Competition on Constitution. Plans for a State-wide oratorical and essay contest on the United States Constitution were placed before the State education board today by Roy P. Wisehart, superintendent of public instruction, and approved by them. Dates of the contest have not been set, but the State will be divided into districts and the district winners compete for the State championship. The winner will be awarded a prize trip to Washington, D. C. Resolution of the D. A. R., that school children be given instruction in the State constitution was endorsed by the board. Approval of the Lincoln Memorial shrine project was voiced in /a resolution. FIRE SWEEPS Y. W. C. A. Forces Scores of Residents From Wheatley Branch; S2OO Damage. Fire, of unknown origin, Monday night forced scores of residents from the Phyllis Wheatley branch of the Y. W. C. A., 601 N. West St. Damage was estimated at more than S2OO. All downtown fire apparatus was called to the scene to fight the fire which spread rapidly through the two-story brick building. All the residents escaped uninjured, but many lost personal belongings. A short circuit in the garage of the Bell Packing Company, Ray and Dakota Sts., started a fire which caused an estimated damage of $75. SEEKS LINCOLN DATA Historical Research Group Will Meet In Petersburg. First meeting of the historical research and reference committee of Indiana Lincolfi Union will be held at Petersburg Oct. 25, Mrs. Bes V. Ehrmann,, Rockport, chairman, announced. The committee was appointed by Richard Lieber, Lincoln Union executive committee chairman. Its purpose is to collect historical data relative to Wie Indiana boyhood of Abraham Lincoln. The material will be used In the $1,265,000 campaign for a national Lincoln shrine in Spencer County. HOOSIER POET ON WFBM Frank Carleton Nelson to Read, Starting at 7:30 O’Clock. Frank Carleton Nelson, Hoosier poet of Auburn, will make his first Indianapolis radio appearance over station WFBM at 7:30 p. m. tonight. Nelson gave readings over stations WLS and WGN at Chicago Monday. Among his poems tonight will be “Dad,” “Mother” and “Our Baby."

(RAIN FUTURES WORK DOWN ON CHICAGOBOARD Summer-Like Weather Discounts Steadying Fac- - r tors in Wheat. Bu United Press . CHICAGO, Ocl 18.—All grain futures worked generally lower during a quiet session today on the Chicago Board of Trade. Wheat opened erratically, with lower tendencies and toward midsession a geneial weakness was apparent. Higher Liverpool cables, better milling demand, and high export figures, were steadying influences. But these were outweighed by summer-like weather in Canada and a greatly increased wheat movement there. Exports were 1,000,000 bushels. Receipts were sixteen cars and cash was % cent lower. Com opened very erratically and also showed immediate weakness. Fair weather over the belt proved even a stronger bearish factor than was anticipated, and the market had little support. Trading was quiet. Receipts were log cars and cash unchanged. Oats trading was quiet and prices generally followed declines in wheal and corn. Receipts were thirtythree cars and cash was unchanged. Provisions were fairly steady. Chicago Grain Table —Oct. 18WHEAT— _ Prev. High. Low. 12:00. close. Dec. 1.29% 1.28% 1.28% 1.29% March 1.33 1.31% 1.31% 1.33 May 1.35% 1.33% 1.34 1.35% CORN— Dec. 86% 85% .86% March 90% .89 .89 ,90la May 92% .91% .91% .92’OATS— Dec .46% .46% .46% .46% March 48% .48% .48% .48% May 50 49% .49% RYE— Dec 97% 97 .97% ■March 1.00% .997* 1.00 1.00% May 1.01% l.oi 1.01% LARD— Dec 12.57 12.57 12.55 Jan 12 92 12.90 12 92 12.92 May ~ 13.22 13.22 13.30 July 13.35 RIBS— , Oct 13.35

Produce Markets

Butter (wholesale price)—No. 1. 470 50c: No. 2. 44@46c; packing stock. 25® 27c. Butterfat (buying priced—4’.c lb. Eggs—Strictly fresh, delivered at Indianapolis. 390 40c. • Poultry (buying prices)—Hens. 18@20c; Leghorn hens, 13@15c; Leghorn springs. 13 @isc; springs. Ut@2oc; roosters, 10@12c; turkeys, hens. 20 5 25c: young toms. 20@ 25c; old toms. 15020 c; ducks. 12@15c. geese. 8®10c: guineas, young. 50c: old. 35c. Cheese (wholesale sellin gpricee; per pound)—American loaf. 350 38c: pimento loaf. 37 0 40c; brick loaf. 35®38c; Swiss, No. 1. 43® 46c; No. 2, 39@43c; Imported Swiss. 60@62c; Wisconsin flat, mild and sharp. 30@32c: print cream. 31c; flat daisy 29031 c; longhorns, 29%@31%c; New York limberger, 32@35c; Wisconsin ltmberger. 28032 c Bu United Press CLEVELAND, Ohio. Oct. 18.—ButterExtras In tub lots, 49@51c: firsts, 47 0 48c; seconds, 40 0 43c: pecking stock. 28c; prints In one pound cartons, range 1 to 3c higher. Eggs—Extras, 50c; extra firsts, 47c; firsts, 41c; ordinary. 34c; pullet, firsts, 23c. Poultry—Fowls. 25 @ 26c; Leghorn fowls. 15@16c; heavy springers. 25@26c: Leghorn springers. 22® 23c; cocks. 16@: 17c; ducks. 22® 23c. Potatoes—Maine. 150lb. sacks, $3.25; Ohio. New York. Michigan. $3.1003.25: Idaho, bakers 105-lb. sacks russets. $2.75: rurals. $2.3502.50. Bu Xtnited Press CHICAGO. Oct. 17.—Butter—(Receipts, 11.541; extra firsts.- 44%@ 45%cj standards, 44%c; firsts, 40%@ 4 2c; seconds, 36@38%c; extras, 47%c. Egg.;—Receipts. 8.800; ordinaries. 28@’34c; firsts. 37@43c; seconds, 20 @26c; extras, 33 @33 Vic. Poultry—Receipts. 12 cars: fowls, heavy, 22c; small, 16c; springs, 23c; ducks, heavy. 20@21c; small, 18c: geese, 20@21c: turkeys, 25c; roosters. 17c. Cheesf—Twins. 27%c: young Americas. 27%@28c. Potatoes—Arrivals, 164; on track, 539; In transit, 1,493; Wisconsin sacked round whites, $1.55® 1.80, mostly $1.5501.65: Minnesota and North Dakota sacked round whites. 81.5001.60; sacked Red River Ohlos. $1.5001.55; Colorado sacked Brown Beauties. $1.7001.75: Idaho sacked russets, $1.6502: sacked rurals, $1.60® 1.65. Sweet potatoes—sl® 1.50.

P,n l nitrd Press NEW YORK, Oct. 18— Flour—Quiet, but steady. Pork—Quiet; mess. $33. Lard— Steady; Midwest spot, $13.20013.30. Sugar—Raw. firm: spot 96 test, delivered, duty paid, [email protected]; refined, dull; granulated. $5.80® 6. Coffee—Rio, No. 7. on spot. 14%@14%c; Santos. No. 4. 20% @2o%c. Tallow—Quiet, special to extra, 8%08%C. Hav—Weak; No. 1. $1.1501.20; No. 3. [email protected]. Clover—[email protected]. Dressed poultry—Quiet; turkeys. 20 0 55c; chickens. 22040 c :brollers. 220 40c: capons 30@46c: fowls, 15®32c; ducks, 18 0 24c; ducks. Long Island. 25c. Live poultry— Dull and nominal: geese. 23c: ducks, 140 30c; fowls. 14@28c: turkeys, 30c; roosters. 15c; chickens. 17@29c. Cheese—Quiet; State whole milk, fancy to specials.s37%® 29c: Young America, fresh. 28%c. Potatoes—Long Island. $1.75 0 4.65; Maine $3.1004.10. Sweets—Jersey, basket. sOco $1.50; Southern, basket. 75c @sl; Southern. barrels, [email protected]. Butter—Firmer; receipts, 8.837; creamery, extras, 48Vac; special market. 49@49'/2C. Eggs—Firmer; receipts. 16.369: nearbv white fancy. 66 070 c; nearbv State whites. 42065 c: fresh firsts, 370 44c; Pacific coasts. 47@67c; western whites. 35@50c; nearby browns, 57065 c.

Laddergram Climb Down!

fl WHITE f •I ( “T""’ ’• ’ 1 = 0 "V. a < •- o >.■■■ 0 4 r J - 0 ‘—s , ' s t 11 ■■ 0 6 c. , o 0 „ WINGS 8 M—l|

The regular white wings belong on the street, but the beauty of the Laddergram kind is that they may be introduced into any drawing room, and the guests will like it. Don’t forget about the single letter change In each new word step, and don’t transpose the remaining letters. Maybe you can beat our solution, which will appear tomorrow. Here’S a way to do the last one: 1, Care; 2, Core; 3, Coue; 4, Clue; 5, Flue; 6, Flee; 7, Free. Copyright by Public Ledger

Toothbrush Shunned by Seven Out of Eleven

That’s Figure for 1). S., but Indianapolis Does Better, Says Dr. Morgan. BY DENNIS O’NEILL Four of every eleven persons in the United States can lay claim to owning toothbrushes and prove it. The other seven who claim they .can’t go as far away from home as Ben Davis overnight without packing their molar rejuvenators are spoofing.

This, in effect, was announced today by the Drug Trade Bureau of Public Information, which says that forty million persons in the United States own toothbrushes and seventy million still have coming the thrill of brushing their teeth for the firgt time. “I believe we can show a better rating than that in Indianapolis,” Dr. H. G. Morgan, city health board secretary said. “The work of our school nurses indicates that well over half ~ the people here have toothbrushes.” “The figures are not so surprising, though,” Dr. Morgan continued, “because they are only in keeping with the slow and painful way In which hygienic and public health measures in general are acquired by a certain percentage of the public. “Froper diet, proper ventilation and heating of homes, proper clothing, sufficient bathing and a dozen other health measures are so simple that

City News Told Briefly

WEDNESDAY EVENTS State Parent-Teacher Association convention. Severln, all day. Ktwanis Club luncheon. Claypool. Lions Club luncheon. Lincoln. Purdue Alumni Association luncheon, Severln. Junior Chamber of Commerce luncheon. Chamber of Commerce. Lexington day dinner, Woodstock Country Club, evening. Indiana School Men’s and Women's Clubs and Indiana County Superintendents’ Association Joint meeting. Lincoln, evening. Alpa Eta Pi meeting. Lincoln. 7:30 p. m. Master Barbers" Association meeting. Severln, 8 p. m. Virgil fceters, 28, Negro, 644 Johnson St., was charged with failure to stop at a preferential street and reckless driving when his truck collided with a W. Tenth St. car at New York and Douglass Sts., Monday night. Front of the street car and truck were damaged. ■ i- - Burgess, 29, of 4605 Brookville Rd., was injured slightly, late Monday when the steering wheel of his auto broke and the car crashed into the parked machine of Vern W. Peacock, 215 N. Rural St., in front of that address. Burglars stole SB, flashlights and an electric iron valued at $8 from his electric shop at 912 Riverside Dr., C. E. Layton reported to police. Damages of $50,000 from the Pennsylvania Railroad Company were asked in a suit filed in circuit court Monday by Daniel P. Miller, former employe. Miller alleged he was permanently injured in an accident last June at the Pennsylvania shops. <m The 1928 convention of Maintenance of Way Foreman of the Big Four Railroad will be held in Indianapolis next October, it was announced by Shockley Lockridge, assistant manager of the Indianapolis convention bureau. H. F. Barnes of Indianapolis is president of the railroad association. J. Y. Scott, 65, of 139 N. Delaware St., was bruised about the body Monday night when he ran into the path of an auto driven by Louis Clark, 2860 Adams St., at Alabama St. and Massachusetts Ave. “Os the strife sti id turmoil in the world, 90 per cent is due to misunderstanding and the remainder to natural antipathy and misinterpretation,” Dr. W. P. Dearing, president of Oakland City College, at Oakland City, said in speaking before more than 200 members and guests at the monthly dinner of the Brotherhood of the First Baptist Church Monday night. The second concert within two weeks was given at Cadle Tabernacle Monday night by Floyd F. Jones, operatic singer. The program was arranged by Charles W. Daugherty for those who failed to DR. J. MYERS DIES Former State Man Moved to Missouri Year Ago. Bu Times Bpecinl KANSAS CITY, Mo., Oct. 18.— Dr. Joseph Myers, Sr., 64, optometrist, of this city formerly of Crawfordsville, Ind., died early today at the home of his son, Joseph Myers, Jr., associate minister of the Boulevard Christian Church. Death was caused by cerebral arteriosclerosis, following three months’ illness. Besides the son, Dr. Myers Is survived by his wife, Mrs. Josephine Myers, John H. Myers, a brother, of Logansport; Mrs. Sarah Ritchie, of Kokomo, and Mrs. Andrew Wimmer, of Cicero, Ind., sisters. Dr. Myers owned and managed a jewelry store In Brookston, Ind., thirteen years, moving to Crawfordsville, In 1911. He moved to Independence, Mo.,_a year ago. He was a member of the Indiana Optometrist Association, and one of the first of the profession to be licensed In Indiana under the optometry registration law which he helped to obtain. Funeral services will be held Wednesday here. The body will be cremated.

a great percentage of the public fail to place them in operation.” Dr. Morgan mentioned the roller towel and common drinking cup in

~ WH*r I

public places as further evidence of the public's reluctance to take the proper care of itself physically. “The toothbrush is one of the most important instruments of gooct health,” Dr. Morgan said. At least 10,000 persons a year In Indianapolis are forced to forego the solace of a toothbrush for varying lengths of time during the twelve months. They are the guests of the Marion county jail. Sheriff Omer Hawkins has banned them because toothpaste, smeared over iron bars, will conceal saw or file marks for indefinite lengths of time, until the bars are cut in two.

“My guests are healthy, nevertheless,’’ Hawkins said, “I have a standing bet that I can add thirty-five pounds to any one’s weight who stays in the county jail for six months. “Os course,” Hawkins continued, “they can’t be the kind that thrive on running around nights, or who worry about what is going on on the outside, but for the normal human being my bet holds good, toothbrushes or no toothbrushes.”

hear Jones at the North American Christian conference last week. It consisted of classic and religious airs. * Fred Hoke of the Holcomb and Hoke Manufacturing Company will speak on the Community Fund at the Kiwanis Club luncheon Wednesday at the Claypool. Charles R. Bragg was the speaker ' at the Gyro Club luncheon at the ! Spink-Arms today. The Gyro dub will hold a Halloween party at the Spink-Arms the evening of Oct. 28. County agents of ten counties comprising the Indianapolis district, held a noon luncheon today at the Chamber of Commerce. Washington Township, Kosciusko County, was added to the corn-borer infested list today, making the total 131 townships in sixteen Indiana counties. PMMRRTISON TRIM IN MAINE Voters Cast Ballots on Plan to Repeal Law. BJt United Press PORTLAND, Maine, Oct. 18.—The direct primary went on trial in Maine today. Voters went to the polls to cast their ballots on the referendum for abolition of the system which has been in force in this State for fifteen years. If the proposal Is ratified, Maine will return to the party caucus system of choosing its candidates for office. While Governor Ralph O. Brewster has encouraged interest in the referendum and urged every voter to declare himself on the issue, interest has been comparatively slight. Frank H. Holley of North Amsop, president of the Senate, is leader of the Popular Government League which opposes the repeal of the direct primary. Governor Brewster and former Governor Percival Baxter are also understood to be In favor of the present system. Leaders of the movement in favor of the referendum are former Governor William T. Cobb and Albert M. Spear, retired Associate Justice of the State Supreme Court.

MENTAL TESTS URGED FOR MOTOR DRIVERS Licenses for All Autolsts Also to Be Asked at Convention. Mental examinations and licenses for motorists will be recommended at the convention of the National Association of Railroad and Utilities Commissioners convened today at Dallas, Texas, by Chairman Frank Singleton of the Indiana Public Service Commission. The rcommendations will be contained In a report of the committee on grade crossings and trespassing on railroads, of which Singleton Is the head. Commissioner Howell Ellis also is representing Indiana at the meeting. BUS CASE UP TO JUDGE Circuit Judge Harry O. Chamberlin today was preparing to reconsider the petition for purchase of the Peoples Motor Coach Company common stock by the Indianapolis Street Railway Company. The court heard evidence In the matter recently after the public service commission refused the request. Following this, Chamberlin returned the case to the commission, which refused to alter judgment and returned It to Circuit Court. The car company wants to purchase control of the bus lines for $500,000.

OCT. 18, 1927

ELLEN SGRIPPS COLLEGES FOR WOMENOPENED Newton D. Baker Speaks in Praise of Founder and Her Ideals. BY MAX STERN CLAREMONT, Cal., Oct. 18.—The Oxford idea of “intimate” education in place of what he called mass production of university graduates was hailed here as one of America's noteworthy movement* by Newton D. Baker, ex-secretary of war, principal speaker at the opening of the Scripps College for Women, founded by Miss Ellen Browning Scripps. * Baker welcomed the new Idea behind Claremont colleges as as an Important cultural step in this country and as a solution of the problem of overcrowded State universities. The Claremont idea of small federated colleges of limited student bodies, but manned by the faculties available, he said, will provide “ordered knowledge and a spirit restrained and refined by contact with cultured people.” Calls for Peace Safeguard Calling on educators to safeguard peace and democracy, Baker painted a far from rosy picture. He quoted H. G. Wells on “The Next War,' scheduled to take place between America and England in twenty years. “As I "survey the horizon, I see no cloud the size of a man’s hand warning of a clash between these two dominant civilizations of the world,” said Baker, “yet wars do come, and unless the world is to have a fresh deluge of blood, there must come some intervention of the mind and spirit of mankind.” Baker’s address was prefaced by a tribute .to the life of Miss Scripp. who founded and endowed the Claremont colleges. He praised her as “an unpretentious, silent, serene, and gracious lady, who has blessed the new undertaking by her benefaction and baptized it by her spirit.” “She never has lost her superb curiosity, nor her devotion to things of permanent benefit to mankind,” he said. "Os the great women I have known, none has so wide a concern for the things of the mind, so deep a sympathy for the things of the spirit.” World’s Eyes >n Experiment Tucked away in the upland orangt groves under the shadow of Old Baldy is the small university which the eyes of the academic world are watching. Its buildings are fitted to the scene, Mediterranean in architecture, with gardens, patios and spacious lawns. The mother college Is Pomona, forty years old, which has only 750 students and turns away twice that many each year. Scripps, the new unit, is the only gi/ls college in the Sou'hwest, and has begun with fifty girls and a notable faculty, headed by President Ernest J. Jaqua. MERCHANTS TO MEET East Side Leaders to Be Invited to C. of C. Gathering. Merchants on E. Tenth and E. Michigan Sts., and all cross streets between them, will be invited to attend a get-together meeting at the Chamber of Commerce next Monday night. Monday night about sixty business men on Illinois St. between Sixteenth and Thirty-Eighth Sts. and on Central Ave. between Twenty-Fifth and Thirty-Eighth Sts., met and heard talks by Dick Miller, president, and C. L. Harrod, general manager of the chamber. Boys’ Gang Confesses Auto Thefts BUFFALO, N. Y.. Oct. 18.— Ranging in age from 15 to 22 years, ten boys and youths were held here today, self-confessed thieves of between thirty-five and forty automobiles in the Buffalo vicinity during the last six months.

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