Indianapolis Times, Volume 39, Number 273, Indianapolis, Marion County, 12 March 1928 — Page 12

PAGE 12

PROFIT-TAKING SENDS STOCKS LOWERJN LIST General Motors Sells Off Fractionally to 157 1-4; Radio Advances.

Average Stock Prices

Average of twenty industrials Saturday was 200.24. off 1.08. Average of twenty rails was 138 78, up .03. Average of forty bonds was 89.18, up .02. By United Press NEW YORK. March 12.—Profittaking carried over into the early stock market dealings today. General Motors sold off fractionally to 157 Vi and other motor shares eased off. Radio continued an active feature, rising to new high ground at 122, up IT6. General Electric, profiting by its holdings of Radio, spurted 4% points to 138. Westinghouse Electric, alter dropping to 100%, snapped back to 101%, off 2Vs from its record high Beached Saturday. Baldwin Locomotive resumed its sharp advance, reaching new high ground at 277, up 3V4. Railroad shares, in line with expectations, began to rise in the early dealings. Describing the market, the Wall Street Journal’s financial review today said: “Traders with short contracts outstanding were made extremely nervous by Radio’s sensational performance on Saturday. Fears that its action might be duplicated in other stocks with large bear accounts caused urgent short covering in specialties at the start of the new neek. International Nickel ran up 4V4 points to 91 Vi, and General Electric 5Va points to 138 M.>." “Radio opened on a million dollar transaction involving 10,000 shares at $120.50. It continued to turn over in large blocks with shorts losing tremendous sums at each price advance. General Electric which has large holdings of Radio, sold at a high of 140% anew record for the year and a gain of 6% net from the previous close. “Railroad stocks joined in the advance today while the majority of industrials were irregular due to profit taking selling. United States Steel profited by its report of unfilled tonnage showing a gain on Feb. 29 of 122,000 tons as compared with Jan. 31. The stock opened at 145 up Vs and then advanced to 146%. “General Motors was much less active. The stock opened at 157%, off V 4 and then declined. Later it rallied to around the previous close.” Bullish at Noon Vigorous bullish demonstrations went ahead in many sections of the list around noon. Mail order shares advanced under the leadership of Montgomery Ward, with Sears Roebuck also in demand. Buying of these issues was stimulated by reports of increasing employment, indicating a higher public purchasing power. Shattuck was up, in response to its 1927 report. Rails showed increased activity on the upside. Radio Advances Bn United Press NEW YORK. March 12.—Shares of the Radio Corporation of America led another sensational upward movement on the New York stock Exchange today replacing General Motors which had mounted to new highs last week. R. C. A. stock reached anew record at 128, an increase of $7.50 a share over the closing quotation Saturday. Other stocks whose companies had large Radio holdings benefited by the advance

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were $3,818,000. Debits were 56.627.000. NEW YORK STATEMENT •■'/•(/■ Press NEW YORK. March 12.—Bank clearings today were $540,000,000. Clearing house balance was $99,000,000. CHICAGO STATEMENT Bn United Press CHICAGO. March 12.—Bank clearings today were $104,700,000. Clearing house balance was $7,600,000. FOREIGN EXCHANGE Bn United Press NEW YORK. March 12.—Foreign exchange opened steady. Demand sterling, $4.87%, off ,001-16 c; Irancs. 3.93’,4c; lira, 5.28V4C; belga, 13.93 c; marks, 23.87%c. off Ol’ac. LIBERTY BONDS Bn United fress NEW YORK. March 12.—Liberty 4th 4%s opened at $103.18, off 2c; Treasury 4%s $115.18, off 1. TREASURY STATEMENT Bn United Press WASHINGTON. March 12.—The Treasury net balance for March 9, was $47.991(16. Customs receipts this month, to March 9. were $14,079.189.29.

In the Cotton Market

(Bv Thomson & McKinnon) NEW YORK, March 12.—Cotton was very strong at the close Saturday. The mills were not in the market to any great extent- last week, but they have to take their hedges back and we expect their buying to put the market higher.

1 Other Livestock Bn United Press CINCINNATI, March 12. Hogs Receipts. 5,600; holdovers. 2,600; market active, steady; 250-350 lbs.. $8.2508.85- 200250 lbs., $8.750 9: 160-200 lbs., $8.50® 9; 130-160 lbs.. $7.5008.75; 90-130 lbs., $5.75 'a 7.75; packing sows, $6.5007. Cattle Receipts, 850; calves, receipts 450; market steady to 50c up; veals uneven; beef steers. $10.50013; light yearling steers and heifers, $10.50/012; beef cows, $7.5009.50; low cutter and cutter cows. $506.25; vealers, $9014.251 heavy calves. $9012; bulk stock and feeder steers, slOOll. Sheep—Receipts 100; market steady: top fat lambs. sl6; bulk fat lambs. $l3O 15.50; bulk cull lambs, s9®,Tl; bulk fat ewes, $5 07. By Times Special LOUISVILLE, March 12.—Hogs—Receipts, 3,000; market. 10c higher; 250 lbs. up. $8.20; 175-250 lbs., $7.50; 130-175 lbs.. $7.65; 90-130 lbs., $5.60; 90 lbs. down, $5.10; roughs, $6.30; stags, $5.70. Cattle—Receipts, 600; market, prime heavy steers, 25c lower; others, steady; prime heavy steers, $12012.75; heavy shipping steers, $10012; medium and plain sfeers. $9010; fat heifers, $8011.50; good to choice cows, $809; medium to good cows. $5.50///8; cutters, $505.50; canners. $4.50@5; bulls, $808.50; feeders. $8.50® 11.25: stockers. $7 @ll. Calves —Receipts, 500; market, steady; good to choice, $11013; medium to good, $9011; outs, $9 down. Sheep— Receipts, 50; market steady, top lambs, $19.50014; seconds. $8011; sheep, $5,500) 7.50. SatiArday’s shipments and Sunday’s cattle, nonej calves, 371: hogs, 346; sheep, none.

New York Stocks (By Thomson & McKinnon)""

—March 12— Railroads— Prey. High. Low. 12:00 close. Atchison 184V* 18414 184% JB3** Atl Coast Line... 172% ... 172% 173 Balt & Ohio ...110>/a 110% 110% 110% Canadian Pac...214 ! / a 213 214 210% Chesa & 0hi0..191 ... 191 19014 Chi & Alton 614 Chi & N West 79% ... 79% 79% Chi Grt West. 10% ... 10% 10% C R I & P 110% ... 109% 109% Del & Hudson.. .. 165% Del & Lacka 134 Erie 53% 53% 53% 52 7 /* Erie Ist pfd.... 56% 6614 56% 55% Grt Nor pfd 95% 111 Central ....135% ... 135% 135% Lehigh Valley .. 87% 87 8714 86% Ken City South 55% 54 54% 54% Lou & Nash... 145% M K & T 37% ... 37% Ss% Mo Pac pfd 108% N Y Centra1...163% 162% 163% 162 N Y C & St L .. 131 NYN H & H.. 62 61 61% 61% Nor Pacific 95 ... 95 95% Norfolk& West 182 Pere Marquette.l32% ... 1321* 132% Pennsylvania.... 66% ... 66% 66% P & W Va 125 124% 125 124'% Reading 98% 98 98 98 Southern Ry ...143 ... 143 142% Southern Pae ..119% ... 119% 119% St Paul 22% ... 22% 22% St Paul pfd... 39% 89 39 39% St L& S W..„ 77 76% 77 76% St L & S P 115% 115% 115% 116 Texas & Pac ...115% . . 115'* 115% Union Pacific ...192% 192 Vi 192% 192% West Maryland.. . 39% Wabash 62 61% 62 61 ■Rubbers— Max 9% 9% 9% Fisk 15 15 14% Goodrich .81% ... 79% 81% Goodyear 56% 55% 56 55% KeUy-Spgfld ... 20% ... 20% 20% UnitecT’states’.! 44% "42Mt *44% 43% Equipments— Am Car & Fdy..106'4 105% 105% 105% Am Locomotive.. 111% ... 111% 111% Am Steel Fd... 6474 64% 64*4 63% Baldwin Loco ..280 277 280 273% General Elec ...140% 136% 139% 133% Gen Rv Signal. 96V4 ... 95 96 Lima Loco 54 ... 54 54*4 N Y Air Brake.. 43% ... 43% 43% Pressed Stl Car 25% ... 25% 257* Pullman 82% .... 82 82 Westingh Air 8.. 55 54 54*4 527'* Westingh Elec .105% 100'% 104 104% Steels— Bethlem 59'1 59 V* 59 % 59% Colorado Fuel... 73% 73% 73% 72 Crucible 86% .... 867* 86% Gulf States Stl. 57 .... 57 5774 Inland Steel .. 5174 .... 51'4 51 Phil R C & 1.. 30% .... 30 30 Rep Iron & Stl. 62 74 .... 61 74 61% U S Steel 17674 145 146 144% Alloy . 30% Youngstown Stl.. 89% .... 89 89 Vanadium Corp. 82% 807* 82 81% Motors— Am Bosch Mag.. 20% .... 20% 20% Chandler 15 15 ... Chrysler Corp.. 64% 62% 64% 61% Dodge Bros .... 1872 18% 1874 18% Gabriel Snbbrs .... 18% General Motors. 158% 156% 157% 157% Hudson 93% 91*4 92% 92*4 n 12% 12% 12% Mack Trucks ... 94% 93% 94 71 93% Martin-Parry ... 12% .... 12% .... Moon 6% .... 6% 6% Motor Wheel ... 29% 29% 297* Nash 86% i-6% 86% 86% Packard 66% 65 06% 65 Peerless 22% 22% Paige 18% 18% 18*4 18% Studebaker Cor.. 63% 62% 63'4 62 Slew Warner .. 86 847* 86 84% Timken Bear ...119*4 118% 11774 118% Willvs-Overland. 20% 20% 2074 207* Yellow Coach .. 30% 30 30 30% White Motor ... 237* .... 33% 33% Mining— Am Smlt & Rfg .... 173% Anaconda Cop .. 54% .... 54*4 55% Calumet & Ariz 94 Cerro de Pasco.. 62% .... 62 62% Chile Copper .. 38 37% 38 38 '2 Greene Can Cop 132 130% 13174 132 Inspiration Cop. 18% .... 18% 18% Xnt Nickel .... 91*4 89% 91V* 87% Kennecott Cop .. 81% .... 80% 81% Magma Cop ... 4674 .... 48% 4874 Miami Copper 18 Texas Gulf Sul. 74'/* 73% 73% 72% U S Smelt .... 39% .... 39% 40 A thin tic Rfg ..109 108% 109 107% Cal Petrol 26 26 26% Frceport-Texas.. 80 79% 7974 79*4 Houston Oil 137 ... 136% 137 Indp Oil and Gas 26 2574 26 26 Marland Oil ... 35% ... 35% 35% Mid-Cont Petrol 27 74 •• ■ 27 74 27 7* Lago Oil & Tr. .. .. ... 32 Pan-Am Pet B. 42 41% 42 42% Phillips Petrol 39% 38% 39% 39% Pro & Rfgrs.... 20 ... 20 20 Union of Ca 1.... 47'4 ... 47 74 48 Pure Oil 22% ... 22 2274 Royal Dutch .... 46% ... 46% 4a> Shell 25% 25% 25% 25% Simms Petrol ... 21 Sinclair Oil .... 2174 ... 21'% 22 Skelly Oil 26% ... 26 25% Std Oil Cal 55 74 ... 55'/* 557* Std Oil N J 39'% 3974 39% 39 % Std Oil N Y.... 29% .. 29% 30% Texas Corp .... 527* 51% 52 52% Transcontl 8% 87* 8% 8% Industrials— Allis Chalmers .119 ... 119 120% Allied Chemical 15374 ... 153'4 152% Armour A .. 14% Amer Can .... 8274 82% 82’% 82*4 Am Hide Lea... 12 ... 1174 12% Am H L pfd ... ... 57% Am Linseed .... 78% 77 77% 77% Am Safety Raz 60 Vi Amer Ice 32 31% 32 32 Amer Woolen .. 22% ... 22'/* 22 Coca Cola 136% ... 136'/* 138 Conti Can 94 93 74 94 9374 Certainteed ... ... 58 Congolem 2474 2474 2474 24% Dav Chem ... ... 3974 Dupont 350 ... 349 353 Famous Players 120% 119'% 119% 120 Gen Asphalt ... 817* ... 81 81% Int Bus Mch....133 ... 133 1327* Xnt Cm Engr 50% 48% 50% 47% Int Paper 72 ... 72 717* Int Harvester... 239 7* Lambert 93% ... 93% 9374 Loews 6174 ... 61'% 61'/, May Stores .... 81 ... 81 82 Montgom Ward 136*4 ... 135% 136 Natl C R 51% 51'% 51% 51 Pittsburgh Coal. . 4674 Owens 80tt1e.... 83% 82% 83 82% Radio Corp 127% 120V4 124% 120'% Real Silk 26 Rem Rand 27% ... 277* 27% Sears Roebuck .. 87% 87 " 8774 87** Union Carbide ..148 144*4 147 144% Uriiv Pipe 24 ... 23% 23% U SCs Ir Pipe 200 U S Indus A1c0.11274 112 112'% 112 Worthington Pu ... ... 30 Woolworth C 0... 18374 ... 183% 1827*' Utilities— Am Tel & Te1..182 18174 182 181% Am Express ....181 ... 181 181*% Am Wat Wks 5974 Brklyn-Manh T. 6374 63 74 63 % 63% Col G & E... 90'% 907* 90'% 90% Consol Gas 135 13474 135 135% Elec Pow & Lt 38 ... 37% 3774 Nor Am Cos 61% 61 74 61'% 6174 Montana P 164% ... 1637, 164'% Peoples Gas ...171% ... 171% 1727* Phila Cos 47 Std Gas & El.. 62*4 62 62% 61*4 Utilities Power.. 32 ... 31*4 32 West Union Tel 166'% Shipping— Am Inti Corp.. 81 80 81 79% Am Ship & Com 4% ... • 474 4*4 Atl Gulf & W I 43% 42 74 43% 42>4 Inti Mer M pfd 37 ... 36% 3774 United Fruit 138 Foods— Am Sug Rfg... 60 74 ... 60 60 74 Austin Nichols.. .. 5 Beechnut Pkg.. 79% ... 79% 78% California Pkg. 76% ... 76% 76*4 Corn Products.. 72% 72 72 74 72V* Cuba Cane Su p 2674 .■ 2674 2674 Cuban Am Sug.. 20 20 20 20 Fleischmann Cos 69% ... 69'% 707* Jewel Tea 82 ... 82 8274 Jones Bros Tea 33% ... 33% 33 Natl Biscuit 170 ... 170 169 Funta Alegre... 29*4 ... 29% 29 Postum Cos 121% ... 121% 121** Ward Baking B 2374 Tobaccos— Am Sumatra .... 50 Am Tobacco ...168 ... 168 Am Tob B 168% 168 74 1 68% 169% Con Cigars 86 ... 86 88% General Cigar 69% Lig & Meyers... 110'% ... 110*/* 115% Lorillard 4074 4074 4074 40 %

In the Stock Market

(By Thomson & McKinnon) NEW YORK, March 12.—Another record established on Saturday. That’s what we have been doing for a couple of years, making new records and shattering precedents, and we believe it won’t be long, before we do the same in commerce and industry and perhaps we have already started. We were amazed in reading the figures of building and engineering contracts awarded during the month of February. The highest for any February and 18 per cent above the corresponding month last year. What do you say to that as an indicator of industrial activity? As to the stock market, most of us would be pleased if we accomplished the same results in a more orderly fashion and not give every advance the appearance of a comer; but how are you gooing to change the order of things if too many people persist in making a short commitment in the same stock? Being convinced that we are on a permanently lower yield basis, it naturally follows that stocks look just as attractive now at prevailing prices as they did a couple of years ago at many points lower.

FEW HOGS HERE WITH PRICES UP TO START WEEK Porkers Advance 15 to 25 Cents to $8.90 Top; Others Steady. Mar. Bulk. Top. Receipts. 5. 8.25® 8.00 8.60 3.000 6. 8.40® 8.70 8.75 6,000 7. 8.25® 8.70 8.75 9,500 8. 8.25® 8.65 8.65 7.000 9. 8.25® 8.65 8.65 6,500 10. B.oo® 8.70 8.70 2.500 12. 8.25® 8.90 8.90 3.000 With receipts numbering only 3,000, hogs opened the week on the local market 15 to 25 cents higher bn the hundredweignt. The advance was mostly 20 cents and the top went up to $8.90, highest price since Jan. 13, when the practical top was $8.90, and part of a load brought $9. There were 187 holdovers. Other livestock was inostly steady with some divisions nominal with light receipts. The Chicago market opened strong to 10 cents higher. The top bid was $8.50, offered for choice 190-200 pounders. Receipts were estimated at 63,000 and there were 3,000 holdovers. All Weights Gain Up 20 to 25 cents, heavy meat animals sold at $8.25 <3 8.75 and material in the 200-250-pound class brought [email protected], 20 to 25 cents higher. Lights. 160-200 pounds, went at $8.50 8.90, advancing the same. Animals weighing 130-160 pounds gained evenly 25 cents, selling at $7.75 W 8.50. Pigs brought [email protected], a gain of 25 cents, and packing sows sent up 25 to 50 cents, selling at $6.75??7.75. Cattle were steady to 25 cents lower, meat material dropping. Beef steers sold at $10.50@ 12.75 and cows at $7 @lO, both off 25 cents on the top. Low cutter and cutter cows were unchanged at [email protected] as were bulk stock and feeder steers at $7.50 @9. Receipts approximated 500. Calf Quality Off The calf market held steady but quality received was poor and sales langed $14@15. Heavy calves were unchanged at $6.50@ 10.50. Receipts numbered 300. Only 100 animals were received in the sheep and lambs division and the market was quotably steady with the top off 25 cents at sl6. Other quotations: bulk fat lambs, sl4® 15.50; bulk culls. $7.50® 11.50, and fat ewes, [email protected].

—Ho* — Receipts. 3.000; market higher 250-350 lbs $8.25® 8 75 200-250 lbs 8.75® 8.90 160-200 lbs 8.50® B.SO 130-160 lbs 7.75® 8.50 90-130 lbs 6.50® 775 Packing sows 6.75® 7.75 —CattleReceipts. 500; market, steady to lower. Beef steers *10.50® 12.75 Beef cows 7 00® 10.00 Low cutter* and cutter cows .. 5.50® 6.75 Bulk Stocker and feeder steers. 7.50® 9.50 —Calve*— Receipts. 300; market steadv. Best vealers $14,900 15.00 Heavy calves 6.50® 10.50 —Sheep and Lambs— Receipt*; 100; market steady. Top fat lairffis $16.00 Bulk rat lambs 14.00® 15.50 Bulk cull lambs 7.50011 50 Fat ewes 6.50® 9,50 Other Livestock Bn United Press CHICAGO. March 12.—Cattle—Receipts. 16,000; matured steers. 15 to 25c lower, slow at decline; bids off. more on weighty offerinks; kinds scaling 1300 lbs. upward; light yearlings, fully steady; stockers and feeders strong to 25c higher; big packers going slow; bidding, 75c® $1 lower on vealers, few early sales at $12012.50 on light offerings. 75c lower; prospects. sl2 0/12.50: on light offerings; better grades. sl3® 14; few. $14.50: bulls, uneven 15®25c lower; talking. $7.75@8; on best medium kinds. Sheep—Receipts, 19.000; lambs with finish 90 lbs. down, active to outsiders; strong to 25c higher; shipper demand fairly broad; packers bidding steady: food to choice handyweight to outsiders. 16.25® 16.50: bulk 90-96 lbs. wooled lambs, $15.75/ft,l6; choice 89-lb. clipped lambs, $13.75; good 79-lb. fall clipps. $14.40; light supply sheep and feeding and shearing lambs, strong: good feeding lambs. $14.25 si 14.75: mixed fat and feeders to traders, sl6. Hogs—(Soft or oily hogs and roasting pigs excluded)—Receipts, 63,000market, 10 tp 15c higher than Saturday averages; heiVyweight, 250-350 lbs., medium to choice .$7.95/4/8.40; medium weight, 200250 lbs., medium to choice, $8.150 8 55; lightweight. 160-200 lbs., common to choice. $7.85®8.55; light lights. 130-160 lbs., common to choice. $6.8508.55; packing sows smooth and rough, $6.85®7.60; slaughter pigs, 90-130 lbs., medium to choice, $6 25® 7.60. Slaughter cattle and calves—Steers. 1500 lbs. up. good and choice. sl4/4/16; steers, $10(4115; choice. 514.50® 15.75; good, $13.25® 15 25; steers, 1100 lbs. down, choice. $14.25® 15; good, sl3® 14.50; mediug, sll ® 13.50; common, $8.75® 11; light yearling steers and heifers, good and choice, 850 lbs. down. $12.75/®ls; heifers good and choice. 850 lbs. up, $9.75® 13.25; common and medium, all weights. $8.25®?11.75; cows, good and choice. $8.25®11.50; common and medium. $6.35®8.25; low cutter and cutter, $5.50® 6.35; calves, medium to choice. s9® 11; vealers, vull to choice. $8 ®ls; feeder and stock cattle steers, common to choice. $8,25®'12.50. Slaughter sheep and lambs—Lambs, light and handyweight. 92 lbs. down, medium to choice. $14.25® 16.65; cull and common, all weights, $12.50® 14.25; ewes, medium to choice. $7.25 ® 9.75; ewes, cull and common. $307.65. Feeding lambs—(Range Stockl: Feeding lambs, medium to choice, [email protected]. Ily United Press FT. WAYNE,. March 12.—Hogs—Receipts, 300; market steady to 15 cents higher; 90-110 lbs., $6.75; 12-130 lbs., $7.25-130-150 lbs., $7.75; 150-160 lbs.. $8.25; 160180 lbs.. $8.70; 180-200 lbs., $8.80; 260-225 lbs., $8.60; 225-275 lbs., $8.35; 275-325 lbs.. $8.20; 325 lbs. up, $8.05; roughs, $6 0 6.50: stags. $4®4.50. Calves—Receipts. 25; market, $15.50 down. Sheep—Receipts. 25; market, lambs. sls down. Bn United Press EAST BUFFALO. March 12.—Hoes—Receipts. 9,000; holdovers, 611; market 25c up; pigs up more: 250-350 lbs.. $8.6009.15; 200-250 lbs.. $9®9.25; 160-200 lbs., s9® 9.25; 130-160 lbs., $8.50® 9.25; 90-130 bs„ sß® 8.50; packing sows, $7®7.75. Cattle— Receipts. 1,200; calves, receipts. 1.400; market steady, calves steady; beef steers. $10.50® 14.25; light yearling steers and heifers. sll @14.25; beef cows, $6.50® 9.50; low cutter and cutter cows, [email protected]; vealers. $16.50® 17. Sheep Receipts, 3,00; market 25c up; bulk fat lambs, sl7; bulk cull lambs, $12@15; bulk fat ewes, $8 @9.50. Bn United Press PITTSBURGH. March 12.—Hogs—Receipts .4,500; market, strong; 250-350 lbs., $8,40®9; 200-250 lbs, $8.75 0 9.10; 160-200 lbs., [email protected]; 130-160 lbs., $8.2509.10; 90130 lbs., $7/4(8: packing sows, $6.7507.50. Cattle—Receipts, 850. Calves—Receipts, 650; market steady to higher; beef steers, $11.50® 13.50; light yearling steers and heifers, $10.50013.20; beef cows, $7.50®) 9.50; low cutter and cutter cows. ss® 6.50; vealers, $15016.50; heavy calves, $7 ® 13.50. Sheep—Receipts, 2,000; market, steady to strong; top fat lambs. $16.75; bulk fat lambs, sl6® 16.75; bulk cull lambs, $11014.50. By United Press CLEVELAND, March 12.—Hogs—Receipts, 4,800; market, 10®15c up; 250-350 lbs.. $8.5008.75; 200-250 los., $8.7509; 160-200 lb's.. $8.9009; 130-160 lbs., $7.25@9; 90130 lbs., s7® 7.2s;%>acking sows, $707.25. Cattle—Receipts, 500. Calves—Receipts, 650; market, 25c up; calves, weak; beef steers, sllOl2 50; beef cows, $6,750)8.50; low cutter and cutter cows, ss®6; veal, ers, $14016.50. Sheep—Receipts. 2,100;' market, lambs. 25c up; top fat lambs, sl7; bulk fat lambs, $16.50017; bulk cull lambs, $12014.50; bulk fat ewes, s7@9. B,y United Press TOLEDO, March 12.—Hogs Receipts, 750; market 10® 15c up on heavies, pigs 50c up; heavies, sB@B 40; mediums, $6.50® 8.75; Yorkers, $8.60® 9; good pigs, $6.75@7. Cattle—Receipts, 150; market steady and slow; calves, receipts light; market steady. Sheep and lambs—Receipts, light; market strong. ,*Ji.

THE INDIANAPOLIS TIMES

Commission Row

PRICE TO RETAILERS FRUITS Apples—Fancy barrel - apples. seasonable varieties, $709: fancy basket apples, seasonable varieties, $2.2503.25 40 lbs.; choice box apples, seasonable varieties. $3.25®4.75. Grapefruit—Florida, [email protected]. Grapes—California whites. $7.50 keg. Kumquats—Florida. 20c quart. Lemons—California, $6 0 6.50 crate. Limes—Jamaica. $3 per 100. Oranges—California navels. ss@7 crate; Florida, $5®6.75 crate. Pears—Washington D'Anjous, $3.50 half box. Strawberries—Florida, 50@55c quart. VEGETABLES Artichokes—California. $1.75 dozen. Asparagus—California. $1.50 doz. Beans—Southern, $6 hamper. Beets—Texas. $3 bu.: home grown. $1.50. Broccoli—Texas, $3.50 bu. Brussels Sprouts—3oc lb. Cabbage—Holland seed. 2c lb.: Texas. 4c lb.; red, 4c lb. Carrots—Cal., $4.75. 5-doz. crate; homegrown. sl. Cauliflower—California, $2.2502.50 crate. Celery—California, $7.50 per 8, 9 and 10doz. crates; Florida. $3.75 per crate. Celery Cabbage—s2.2s doz. bunches. Cucumbers—lndiana hothouse. $2.50@3 for box of 1 doz. Eggplant—H. G.. $2 02.50 dos. Endive—sl.7s doz. bunches. Escarole—Louisiana, $1.25 bushel. Kale—s2.7s barrel. Leek—soc bunch. Lettuce Arizona, hesd, $3 7504 per crate; hothouse, leaf. SI.BO 15 lbs. Mushrooms—sl.7s. 3 lbs. Mustard—Southern. $2.75 bu. Onions—Spanish. $3.50 crate; Indiana yellow. ss@ 5.50 100-lb. bag. Indiana red, $3.75 cwt. Ovsterplant—4sc doz. bunches. Parsley—6oc doz. bunches; Southern. 75c bunch. Parsnips—sl.so bu. Peas California telephone, $8.50 hamper. Peppers—Florida mangoes. $6 crate. Potatoes—Michigan white, $3.9004. 150 lbs., Minnesota Russets. $4, 150 lbs.; Minnesota Red River Ohio*. $3. 130 lbs.; Idaho*, $3.25 cwt.| Florida Triumphs. $4, 50 lbs. Radishes—Hothouse, button. 90c@$I. Rutabagas—Canadian. $2.5G per cwt. Rhubarb—Hothouse. 60®75c 5 lb 6. Shallots—7sc doz. bunches. Spinach—Texas, $1.35 bu. Sweet Potatoes—lndiana Jersey mediums, $2.75 bu.; Indiana Jerseys. $4 bu.; Nancy Hall. $2.25 hamper; Porto Ricans. $2 25 bu. Tomatoes—California, $7.5009, six-bas-ket crate. MISCELLANEOUS Cider—s4.so, 8-gal case; $6.50 doz. halfgal. jars. Cocoanuts—s6 50 per 100. Oarlic—2oc per lb. Ovsters—Standards, $2.50 gal. Sassafras—2sc doz. bunches. SEED STOCK Onions—White sets. $5.75, 2 bu : yellow or red. $4.75. 3 bu.: Bermuda plants, white or yellow. $4.50 crate of 6.000. Potatoes—Main cobblers, $5. 150 lbs : Red River Ohios, $3, 120 lbs.: Minnesota Triumphs. $3.75, 150 lbs. Sweet Potatoes—Selected Indiana Jerseys. $3 bu.; Indiana Jerseys. $2.50 bu. Byj United Press CHICAGO. March 12.—Green fruits; Apples. s7® 11 per bbl.; strawberries. 45 0 50c per qt.

Produce Markets

Butter (wholesale price) No. 1, 52@ 53c; No. 2. 50®51c lb. Butterfat (buying price)— 49c lb. Cheese (wholesale selling prices, per pound)—American loaf, 35038 c: pimento loaf. 38 0 40c: brick loaf. 35@38c; Swiss No. 1. 42044 c: imported Swiss. 52c; Wisconsin flat, mild and sharp. 32034 c; print cream. 39® 40c; flat display. 28030 c; Longhorn,. 28 0 29c; New York limberger. 42® 44c. Eggs—Buying prices; Fresh, delivered at Indanapolls, loss off. 24c doz. Poultry (buying price) Hens. 20 0 22c: Leghorn hens. 15017 c, springs. No. 1 soft meated. 20022 c; Leghorns. 14@16c; young sprlns. 14®15c: roosters. 14'ul6c: Leghorn stags. 12® 15c: capons. 8 lbs. and over. 30®31c; 7 to 8 lbs.. 28® 29c: 6 to 7 lbs . 25®26c: under 6 lbs. and slips. 22 zff23c; ducks. 15017 c; geese. 13015 c; guineas, old 35c: young 50c. Bn United Press CLEVELAND. March 12.—Butter—Extras in tub lots. 52%@54%c: firsts, 49% 0 51%c; seconds. 45%047%c; packing stock. 30@32c. Eggs—Extras. 32c; extra firsts. 31c; firsts, 29%c: ordinary, 28c. Pouitrs— Heavy fowls. 27 0 28c; medium. 27® 28c; Leghorns. 22® 24c; old cocks. 16® 17c; stags. 20@21c; heavy springers. 26® 27c; ducks. 300 32c: geese. 21023 c. Potatoes—--150-lb. sacks, round whites. New York. $3.9004; Minnesota. $3.75; Michigan. $4: Wisconsin. $3 7503.85; 120-lb. sacks. Minnesota. $303.25; Maine Green Mountain, *3.65; Idaho russet Burbanks. $3: Colorado rurals. $3; home-grown, bushel sacks. $1.6501.75; Florida No. 2. *10.50011: No. 3. $8®8.50; Montana 25-lb. sacks. 75c. ALLEGED SLAYER HELD Man Wanted at Kokomo Captured In Tent essee. By Times Special KOKOMO, Ind.. March 12.—Oscar Cook, wanted here as the slayer of William Leach, 26. killed during a dance hall fight Feb 27, Is held at Greenville, in the mountains of eastern Tennessee A Howard County officer will be sent to return the prisoner this evening, A second degree murder Indictment was returned against Cook, who fled the city immediately after the fatal shooting of Leach. De Kalb Democrats to Launch Drive fly Times Special AUBURN. Ind.. March 12. De Kalb County Democrats will launch the 1928 campaign with a banquet Wednesday night in K. of P. Hall. Candidates for county, State and congressional offices have been invited. Mayor Warren Lige will preside. Births Girls William and Hazel Younk, 1902 E. Minnesota. Sidney and Mabel Crltser, 2342 English. Porter and Dona Wilson. 509 Holly. William and Josephine Schlagel, Methodist Hospital. Russell and Lesh Martin, Methodist Hospital. De Forest and Caroline O'Dell. Methodist Hospital. John and Bertha Meehan, 422 Congress. Joseph and Della Bruck, 2042 Adams. Argus and Lucy Wilson, 2860 Manlove. Joseph and Verna Guinn, 2813 McPherson. Ralph and Blanche Lanham, 731 Fletcher. Buster and Letleshla Bass, 611 W. St. Clair. Marvin and Florence Burton. 940 S West. Glenn and CJladys Helms, 717 Tippecanoe. Smith and Lillie Johnson, 2611 Clifton. Boys Edgar and Zona Fitch, 825 Chase. Ellis and Alcida Poindexter. Methodist Hospital. Tilinan and Elizabeth Mueller, Methodist Hospital. Clyde and Mary Scott. 35 S. Gray. John and Nellie Harrah. 258 N. Addison. Christian and Marie Van Sickle, 131 N Euclid. Lawton and Mabel Lucas. 1649 Rochester. Edrle and Catherine Hunt, 208 N. Noble Richard and Fannie House. 2809 Columbia. Marccllus and Iva Wilcox, 438 Cora. Leroy and Dorothy Dixon, 3024 Cottage. Charles and Eddah McMurray, 330 W. Forty-First,

Deaths Henry Carl Porter. 2 months, 2706 Bellfontaine, broncho pneumonia. Ellas Monroe Hayes, 62, Christian Hospital, influenza. Sarah Belle Davis, 61, 1601 Spruce acute myocarditis. John H. Castor, 53 St. Vincent Hospital, cerebral hemorrhage. Delbert Huston, 58. Robert Long Hospital, chronic empyema. Jennie Bros, 46, 1211 Madison, pulmonary tuberculosis. Lilly Anna Riley, 49, 3409 Roosevelt, acute dilation of heart. Rebecca Ellen Johnston, 74, 730 S. Noble, acute cardiac dilatation. Mattie May Richardson, 28. 405 W. Tenth, pulmonary tuberculosis. James Edward Morman, 27. 604 N. Sennte. acute parenchymatous nephritis. Mary Belle Burris. 70. 2415 Brookside. cerebral hemorrhage. Christopher Dougherty. 60. 942 W. Twenty-Seventh, broncho pneumonia. Howard Prather Barnaby, 26, Methodist Hospital, lobar pneumonia. Wilber O. Hughes, 51. 1820 E. Tenth, epilepsy. Mack Tucker. 46. 817 E. Georgia, infection of pancreas. Sarah E. Wood. 82. 27 Johnson, erysipelas. Paul Evert Rabenstein. 5 hours. 1006 W. Thirty-Sixth, premature birth Emma V. Ellis. 70, Methodist Hospital, diabetes mellitus. Sarah A. Frederick. 85, 222 S. State, chronic myocarditis. William J. Kelso, 66, 1650 Ashland, cerebral hemorrhage. David Williams, 35, city hospital, pulmonary tuberculosis.

WHEAT SENT UP BY STRENGTH IN LIVERPOOL PITS All Grains Go Higher in Chicago; July Oats Only Future to Drop. Bn United Press CHICAGO, March 12.—Strength in Liverpool wheat firmed the tone in all grains at today's opening on the Chicago Board of Trade, and boosted wheat a large fraction higher. July oats was the only future to lose ground. Opening figures were: Wheat % to % cent higher; corn unchanged to % cent higher; and oats % cent off to % cent higher. Provisions opened strong. Most traders regarded the early upturn in Chicago wheat as transient. Attention is beginning to turn, experts say, from the American winter wheat crop to the bearish world situation. Weather over the grain belt was springlike. Warmer weather over the corn belt may cut down country marketings this week. Rain is forecast for tonight or Tuesday, and unless receipts prove oevrwhelmingly large today, a slight rally was looked for. Oats are weakened by reports that large areas of abandoned winter wheat acreage will be seeded to oats. Chicago Grain Table -March 12WHEAT— Prev. Hteh. Low. 12:00 close. March 1.36% 1.36 1.36% 136 May 1.36*4 1 35% 136’* 136% July 1.34% 134 1 34% 134 CORN - March 94 93% .93% 93% May 97% 96% .97)4 .96% Julv .... .99% 99% 99*4 .99% OATS— March 54% .54 54% .54% Mav .55% .55% .55% .55% July .51% .51% .51% 51% RYE— March 1 17 1 16% 1.17 1.16% Mav 1.17% 117 1.17% 1 16* July 1 11 ... M0 5 , 1.10% LARD - March 1135 11.35 1132 Mav 11 62 .... 11 62 11.60 Julv 11.95 .... 11.90 11.87 September .. 12.20 .... 12 15 12 15 RIBS Mav 11 25 .... 11 25 11 30 July 11.50 .... 11.50 11 57 Bu Timl s Special CHICAGO. March 12 —Carlots: Wheat. 30. corn. 311 oats, 73; rye. 4

Indianapolis Stocks

- March 12— Bid. Ask Amer Central Life 550 . . Amer Cresottne Cos pfd 104*4 .. Belt R R com 68 70 Belt R R pfd 60 Cent Ind Power Cos pfd 98 100 Circle Theater Cos com 102'. . . Cities Service Cos com 53 Cities Service Cos pfd 99% Citizens Gas Cos com 5G% 58 Citizens Gas Cos pfd 101% 104 Commonwealth Loan Cos pfd 100 Equitable Securities Cos com.. 45 55 Hook Drue com .. 30% ... Indiana Hotel com iClavpooli . 125 Indiana Hotel pfd 101% ... Indiana Service Corp pfd 93% Indianapolis Gas cr,m 62 64 Inrtpls & Northwestern pfd ... 40 Indpls P & L 6%s pfd 101% 106 Indpls P Ac L 7s 102 Indpls Pup Wei Ln Ass'n... 47% Indianapolis St Ry pfd 33 34 Indpls Water Cos pfd 103 Indpls Water Wks See Cos 105% Interstate PS pr lien pfd 105 toe Interstate P S 6s pfd 95 100 Merchants Public Utilities .101 North Ind Pub Service pfd , 102 105 Progress Laundry com 28% ... Rauh Fertilizer pfd 50 Heal Silk pfd . T H I & E com 1 T H I & E pfd 14 18 T H Trac and Lt Cos pfd .... 93 Union Trac of Ind com % Unior Trac of Ind Ist pfd 1 Union Trac of Ind 2d pfd % Union Title Cos com 82 Van Camp Pack Cos pfd 10 Van Camp Prod Ist pfd 97% 100 Van Camp Prod 2d pfd 90 100 Bonds Belt R R and Stockyards 4s . 92 Broad Ripple 5s 81% ... Central Indiana Gas 6s 98 Central Indiana Power Cos 6s .104 Central Indiana Power pfd . 98 100 Chi S Bend &c N Ind 5s 17% Citizens Gas Cos 5s 105 107 Citizens St R R 5s 90 92 Gary 8t Rv 5s 90 92 Home T & T of Ft. Wayne 65.. 103 Indiana Hotel as 101 Indiana Northern 3 ... Ind Rv and Lt 5s 98 Ind Service Corp 5s 98*4 ... Ind Union Trac 5s 4 ... Indpls Cos! & South 6s 100% . Indpls Gas Cos 5s 102% 104% Indpls & Martinsville 5s 60 Indpls Northern 5s 14 18 Indpls & Northwestern 55... 60 Indpls Power and Lt Cos 55... 101 102 Indpls St Rv 4s 67*4 69 Indpls True and Term 5s 96% 97'% Indpls Union Rv 5s 102% Indpls Water 5%s 104% ... Indpls Water Ist 5s 100 Indpls Water 4%3 98 Indpls Water Wk Sec Cos 65..102% ... Interstate Pub S 6s 104"% ... Interstate Pub S B 6%s 105% ... Northern Ind Pub Serv Cos 55.101 T H I & E 5s 65 T H Trac and Light 5s 96 Union Trac of Ind 6s 13 18 •Ex-dlvldend. —Liberty Bonds— Liberty Loan Ist 3%s .... 101 40 Liberty Loan Ist 4%s 102.70 102.32 Liberty Loan 3d 4%s ~, 100 30 100.60 liberty Loan 4th 4%s .... 103.60 103 80 U S Treasury 4%s 118 50 118.7# U 8 Treasury 4s 110 40 110.70 U S Treasury 3 5 ,s 107.70 107.90 U S Treasury 3%s 100.00 100.20 U. S. Treasury 3%s 102.70 102.92

CITY BUSINESS MEN FORM JEWETT CLUB Business and professional men of the city organized the first Jew'ett-for-Governor Club in Indiana at the Claypool today, indorsing the candidacy of Charles W. Jewett, local attorney and former mayor, for the Republican nomination. Jewett responded to the club's Indorsement with a speech of appreciation and promised his support of the platform his party will adopt at its State convention. The candidate traced the accomplishments of his administration as mayor, and concluded: “In politics I consistently have stood for and fought for clean policies and good government. I have openly opposed unfit men for party leadership and have supported those whom I considered best qualified. If nominated and elected I will assume the duties of the highest office in the gift of the people of Indiana with the same independence and freedom and will give to the party and to the office the best efforts within my power.” Officers to be elected were President Arthur R. Baxter, Vice President Harper J. Ransburg, Secretary Asa Smith and Treasurer W. C. Atkins. RUBBER PRICES DROP Bill United Presx NEW YORK, March 12.—With London and Singapore markets in new low ground, prices on the local rubber exchange broke sharply today, all positions making new records. May broke below the 25 cent level, but quickly recovered. All months were holding around the 25-cent level in early dealings. May was at 25 cents around 10:30, a loss of 50 points; July, 25.10, off .40; September, 25.20, off .50.

City News Told Briefly

TUESDAY EVENTS University of Michigan Alumni luncheon, Lincoln. Rotary Club luncheon, Claypool. Gyro Club luncheon, Spink-Arms. Mercator Club luncheon, Spink-Arms. Purchasing Agents' Association luncheon. Severin. American Chemical Society luncheon. Chamber of Commerce. Universal Club luncheon, Columbia Club. Phi Gamma Delta luncheon. Chamber of Commerce. Women's Whist Club, Severin, 1:30 p. m Beech Grove Christian Church Men’s Brotherhood dinner, church, 6 a. m. Next meetlngof the McGuffeyites will be held Aprfl 14. More than 300 attended the March meeting of the organization at the Central Library Saturday. Wilbur Tomlinson, 4231 W. Michigan St., today asked police to find his Harley Davidson motorcycle, license 224, stolen from the rear of his home. Elder Brothers, florists at 3800 Madison Ave., have been awarded a gold medal at the Louisville, Ky., flower show for anew variety of freesia. The new species is known as Elder’s Giant White. It is three times as large as the ordinary commercial variety. The Rev. G. H. Gebhardt, pastor of the Carrollton Ave. Reformed Church, will address trie convention of District 12 of the Marlon County Council of Religious Education at 8 Thursday night at the Wallace Street Presbyterian Church. The district comprises Irvington and that section east of Sherman Dr. The Mother’s Club of the English Ave. Boy’s Club will hold a eucher party in the club building. English Ave. and Laurel St., Tuesday at 2 p. m. Dolph O. Harrod. Shelby County farm laborer, has filed a voluntary bankruptcy petition in Federal Court, listing liabilities of $922 and assets of SSO. Purchase of half interest in the Colonial Hotel. New York and Illi-

Offering Investors a New Issue . .. $300,000 Horuff Shoe Corporation

(AN INDIANA COMPANY) Participating Preferred Class A Stock Par Value SIOO Dated March 12, 1928 Maturing April 1, 1948 Cumulative Dividends at 1% Callable at slls per share and accrued dividends and 6,000 Shares Common Stock of No Par Value

. _ _ . -I Share Participating 'J jj, -* .-% pim smmuiattd PriCC per Unit Preferred Class A Stock | ijpiZZ </<"<*<*•< „ 2 Shares Common Stock J C ‘* Jl A Exempt untier present laws from State and Local Taxes tn Indiana, and from Normal Federal Income Tax

The Class A Stock is entitled to 7 percent cumulative preferential dividends, and, furthermore, after the Common Stock has received dividends of 77 cents per share for any one fiscal year, all outstanding participating preferred stock shall share equally, as a class, with the Common Stock, as a class, in any additional dividends that may be paid within such year; provided, however, that total dividends on the Class A Stock shall not exceed 9 percent in any one year. The purpose of this issue is to provide additional capital for a rapidly growing chain store shoe business, which was established with an investment of SIOO fifty-three years ago, and which today operates thirty-three cash retail shoe stores or shoe departments in Indiana, Ohio, Illinois and Kentucky, having total sales last year of $1,604,018. Average annual sales for the last three years were $1,339,853 and average profits were $50,863. Last year’s profits w&re $57,405 or 2.73 times the preferred dividend requirements. After giving effect to present financing, the company shows net tangible assets of $545,995.26 or slßl per share on this issue of Class A Stock. This corporation is headed by Mr. Frank J. Horuff of Indian* apolis, who states the business has shown a profit during each of the fifty-three years of its existence. The organization that built the business is to remain in control; Holders of this Class A Stock shall have equal voting power, share for share, with holders of Common Stock. Unusually strong safeguards have been provided for protecting the interests of holders of Class A Shares. W recommend this issue to Investors of means who should own some participating securities as a protection against possible decreasing purchasing power afforded by fixed yield investments: Detailed Descriptive Circular on Request

The Meyer-Kiser Fletcher American Bank Company

nois Sts., by Charles A. Kepner, former manager of the Claypool, from John A. George, was announced today. Kepner will assume charge as manager. Tax increases on property between Sherman Dr. and Emerson Ave. will be the topic of discussion at the March meeting of the ShermanEmerson Civic League Tuesday night at School 62. There will be a band concert. Candy and cigarets valued at SIOO were stolen from a filling station operated by Murray Reynolds, on Michigan Rd., ten miles east of the city, by burglars who entered the place early Sunday. Deputy Sheriffs Mays and Shipp reported. Mrs. Anna. Frazee, 38, R. R. 5, box 699, was recovering at city hospital today from the effects of poison she took Sunday morning. She refused to give any reason, hospital attaches said. A special menu ala Killarney is promteed those attending the St Patrick's day dinner dance at the Amenaeum, Saturday night. The dance is to be informal and reservations are being made by Mrs. G. H. Seyffart. One hundred posters entered In the recent Realtor’s Home Show poster contests are on display this week at the John Herron At Institute. Walter T. Blassengym, an undertaker at 2226 Shelby St., today announced himself a candidate for the Democratic nomination for coroner of Marion County. A native of New Augusta, Ind., Blassengym has been in the undertaking business here fbr the last twenty-five years.

Local Wagon Wheat

Local erain elevators are paying $1.50 for No. 2 red wheat. Other grade* are nurehased on their merits.

.MARCH 12,1923

LOCAL SHOE CO. STOCK OFFERED Indianapolis Banks to Sell $300,000 Issue. The spectacular growth of a chain store organization operating in this city which started fifty-three years ago with an investment of SIOO, and which had total sales last year of over $1,600,000 was revealed today when it was announced that the Meyer-Kiser Bank and the Fletcher American Company of Indianapolis will offer the investing public a $300,000 issue of participating preferred Class A stock and 6,000 shares of no par common stock in the Horuff Shoe Corporation. The Horuff Company now operates thirty-three popular - price cash and carry shoe stores and departments, twenty-nine of these being located in Indiana. Frank J. Horuff of Indianapolis, president erf the company, stated additional capital is required to finance increasing business and contemplated expansion. The Horuff Company, which Is in# corporated under Indiana laws, wa* established in 1875 by Williani Horuff, the father of the present head of the company, in a small storeroom in Indianapolis. From a humble beginning, with an Investment of SIOO, the business ha3 grown into the largest chain shoe store organization in Indiana. The company’s first store is still in operation. It was not until 1918 that Mi% Horuff began to extend merchandising activities. One additional store was opened in every year from 1918 to 1923. Five new stores were opened in 1924, three in 1925, eleven in 1927 and two in 1928 to date, making a total of thirty-three separate stores or leased shoe departments in department stores. The company also maintains Its own warehouse.