Indianapolis Times, Volume 40, Number 21, Indianapolis, Marion County, 5 June 1928 — Page 12

PAGE 12

STOCK SELLING, DECLINE CARRY OVERONMART Sales Start in Earnest, Fol--4 lowing Slight Rally.

Average Stock Prices

Average of twenty industrials Monday Was 216.62, off 4.34. Average of twenty rails was 142.78, off 1.55. Average of forty bonds was 97.98, olf .05. By United Press NEW YORK, June s.—Stocks were sold at the opening today Curtiss Aero dropping to 120 Vi, Wright Aero 3 points to 173, General Electric 2Vi to 155, and General Motors nearly 3 points to 189%. A slight rally followed and then selling set in in earnest. Radio Corporation maintained a Btrong tone for a time, rising to 1981 b, but later it sold off to 195, off 2 points. Allied Chemical held well at 169, up 1%. Chrysler, Studebaker, Hupp and other motor shares were depressed one to more than 2 points. Most of these made moderate recoveries. Radio Shows Weakness Pressure continued on radio and this issue showed lack of support, which unsettled the entire market. Railroads joined the decline as did steels with United States Steel selling down to 142 Va, off %. Describing the market the Wall Street Journal’s financial review today said: “Fears created by the rise in call jnoney to 7 per cent in Monday’s late trading were added to by publication of the stock exchange loan figures after the close of the market which showed a record total of $5,274,000,000. “Further heavy selling came into the market in the early dealings and new lows on the movement were reached by speculative leaders.” Many Shares Come Back Curtiss Aero dropped 8% and came back 4 1 2; Wright lost 4 points and failed to recover; Genueral Motors sold down to 188%, off 375, and came back to 190V6; General Electrice regained a point of a two-point loss; International Nickle recovered to the previous close from a recession of two points and many others made similar advances. Among the issues to make net gains were International combustion, which scored a point above the previous close after an early break; Allied Chemical held a point gain and American Linseed rose nearly three points. United States Steel, which reacted to 14272, rallied to 143 Vi, where it was unchanged from Monday's last price. Rally Continues The rally continued through the remainder of the morning with best gains in Radio, General Motors, International Nickel and Allied Chemical, the latter rising 7 points to 174 Vi. Radio moved up 10 points from its low of 192 to 202, up 5 points from the previous close. The rally was induced by the improved technical position of the market and by what appeared an easier tone in the money market. However, banks continued to call loans and the tone was firm at the 6Vo per cent level.

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were $3,897,000. Debits were $7,734,000. NEW YORK STATEMENT B.y United Press NEW YORK. June s.—Bank clearings today were $1,359,000,000. Clearing house balance was $110,000,000. Federal reserve bank credit balance was $7,000,000. TREASURY STATEMENT Eel United Press WASHINGTON, June s.—The treasury net balance June 2,. was $54,264,719.03. Customs receipts this month to June 2, were $3,647,730.92. FOREIGN EXCHANGE Bn United Press NEW YORK. June s.—Foreign exchange opened steadv. Demand Sterling. $4.87%, eff .OO'/sc; francs 03.92%c, off ,00%c: lira, 05.26%c; marks. 23.89%c; belga, 13.95 c. LIBERTY BONDS Bn United Press NEW YORK. June s.—Liberty 3rd 4%s opened at SIOO. off lc: 4th 4%5, $101.27, off lc: Treasury 4s. SIOB.IO, off 10c.

In the Stock Market

(By Thomson & McKinnon) NEW YORK, June 5.—A combination of five and a quarter billion dollars in stock exchange loans, heavy withdrawal of Government funds, and a very limited supply of credit, which produced the highest money rates in many years, proved too heavy a load for an overbought market and resulted in the heaviest period of liquidation with which the market has had to contend in some while. After the market was closed the Federal Reserve Board issued a statement on the money situation but said nothing in it which had not been mentioned many times before and which everybody knew. However, we think it is very evident that the Reserve board does not intend to relax its pressure in the policy to reduce loans for stock market purposes, while fundamental conditions remain as they are. We also believe it would be a grave mistake to conclude that the authorities have exhausted their influences to accomplish this objective. Therefore, we are convinced that it is much better to comply voluntarily at present levels rather than be forced to liquidate during a period when sellers of stocks will be more numerous.

Local Wagon Wheat

Local grain elevators are paying $1.59 for No. 2 red wheat. Other grades are purchased on their merits. Purdue Shoots Second By Times Special LAFAYETTE, 2nd., June 5. Purdue University’s pistol squad lacked but one point of winning the championship In the national contest, according to announcement of results received here from the War Department at Washington. ®as first*

New York Stocks — (By Thomson & McKinnon) ——

—June 5 Railroads— Prev. High. Low. 12:00 close. Atchison 190 189% 189% 190%. Atl Coast Line .180 ... 180 182% Balt & Ohio 112% ... 112% 112% Candlan Pac ...210 209 210 210 Chesa & Ohio .194 ... 194 194 Chi & Alton .... 10% ... 10% 11% Chi & N West.. 85 ... 85 85% Chi Grt West 12% C R I & P 116 115 116 115% Del & Hudson .203% ... 202% 203% Del & Lacka ... 141% Erie 55% ... 55% 55% Erie Ist pfd .... 54% ... 54% 54% Grt Nor pfd 102 111 Central 143 ... 143 143% Lehigh Valley. .107'% 107% 107% 108 Kan Cltv South 53% Lou & Nash ...150% ... 150% 154 MK&T 34 % ... 34% 34% Mo Pac pfd ....117% ... 117 V. 118% N Y Central 180% 179% 180% 180% NYC& St L ..133% ... 133% 134 NY NH &11 .... 60% ... 60% 60% Nor Pacific 99% ... 98% 99% Norfolk & West 186 Vi Perre Marquette 138 Pennsylvania ... 65% 65 65 65% P & W Va 152 Reading 107% 107% 107% 108% Southern Rv ...157'% - ■ 157% 158 Southern Pac ..124 123% 124 124% St Paul 34% ... 34 34% St Paul pfd .... 45 ... 44% 44% St L S & W .... 87y 4 86% 87% 88% St L & S F 115% ... 115% 115'% Texas & Pac ...142% ... 142% 144 Union Pacific ...198 ... 197% 199% West Maryland. 47% 46% 47 47% Wabash 86% ... 86% 88 Wabash pfd ... 100 ... 100 101 Rubbers— Ajax 9 ... 9 9 Fisk 14% 14% 14% 14% Goodrich ...... 82% 81% 92‘A 84'% Goodyear 51% ... 51'% 52% Kelly-Spgfld ... 20% 20% 20% 21% Lee 19% ... 19% 21 United States ... 42% 42% 42% 42% Equipments— Am Car & Fdy.lo2 ... 103,, HO , Am Locomotive .105% ... 105% 105% Am Steel Fd ... 60% ... 60% 60% Baldwin Loco .... 245 General Elec ...155% 155 155% 157% Gen Ry Signal 94% Lima Loco 58 ... 58 58% N Y Air Brake 44 ... 44 45 Pressed Stl Car ••a,, 22% Pullman 87% 87 87% 89 Westingh Air B. 48% ... 48% 48% Westingh Elec .103 101% 102% 102% Steels— Bethlehem 61 60 Vi 60% 61 Colorado Fuel... 72% 71% 72 72% Crucible 85’% 84% 85 Vi 84% Gulf States Stl 64 Inland Steel 57 Phil RC & 1.. 31% ... %31% 32 Rep Iron & Stl. 58% ... 58% 58% Otis St 22% 22% 22 Vi 22% U S Steel 143% 142% 143% 143% Alloy 35’% 35'% 35% 36'% Youngstwn Stl.. 88 ... 88 88 Vanadium Corp.. 83 82 83 81 Motors— Am Bosch Mag.. 37% ... 37 37% Chandler 18% ... 18 18% Chrysler Corp.. 79% 79 79’% 81'% Conti Motors .. 12% ... 12% 13 Dodge Bros .... 16 15% 16 15% Gabriel Enbbrs.. 19% ... 19% 18% General Motors .192 188% 196% 192% Hudson 88% 86'% 87% 87'% Hupp 61'% 59 61 60% Jordan 12% ... 12% 13 Mack Trucks... 93% 92% 93 93% Martin-Parry ... 21 '4 20% 21 22Vi Moon 10 9% 10 10 Paige 35% 34 Vi 35% 35 Nash 90% ... 90 Vi 91% Packard 76 76% Peerless 22'% ... 22Vi> 22% Pierce Arrow... 15% ... 15% 16 Studebaker Cor. 75% 74 75 76 Stow Warner ... 91 90% 91 91% Stromberg Cart. 68% ... 68% 70 Timken Bear ...124'% 124 124 Vi 125% Willys-Cverland. 25% ... 25 % 25% Yellow Coach... 36% ... 36% 37 White Motor... 39 38% 38% 391% Mining— Am Smlt & Rfg.197% 196% 196% 108 Ancadona Cop.. 72 71% 71% ... Calumet & Artz.lo3% 102% 103% 105% Cerro de Pasco. 74 ... 74 74% Chile Copper... 43% ... 43% 45 Green Can Cop .119% ... 119% 125 Inspiration Cop 23% ... 23% 25% Int Nickel .... 96% 94'4 96 96% Kennecott Cop .. 91% 90'% 91 93% Magma Cop ... 53% ... 53% 54 Miami Copper.. 21 ... 21 21% Texas Gulf Sul 69 68% 69 69% U S Smelt.... 49% ... 49% 51% Oils— Atlantic Rfg ...127% ... 126% 128% Freeport-Texas.. 65% ... 65% 66'% Houston Oil 143 ... 143 144 Indp Oil % Gas . . 27% Marland Oil 38% ... 38 38% Mid-Cont Petrol 30 ... 30 30% Lago Oil & Tr ... 35 Fan-Am Pet B. 47% ... 47% 49% Phillips Petrol.. 39’ 2 ... 39% 40'% Pro & Rfgrs... 22% 22% 22’i 22 Union of Cal... 50% ... 50% 52% Pure Oil 2,'i'i ... 23Vi 23% Royal Dutch... 51% ... 51% 53 Shell , 27% ... 27% 27% Simms Petrol .. 22 ... 22 22'4 Sinclair Oil 25% 25 25% 25% Skelly Oil ... .. 31% Std Oil Cal 58% ... 58 59'% Std Oil N J 45 44% 45 45% Std Oil N Y 35% 35% 35% 36 Texas fcorp 62% 62% 62% 63% Transcontl 8% ... BVi B’% White agle 23% Industrials— Adv Rumely ... 42 41'% 42 40Vi Allis Chalmers 122% ... 122% 122'% Allied Chemical 169 168% 169 167’/, Armour A 19% 19 19% 18% Amer Can 92'% 88% 89'/ 90 Am Hide Lea 12% Am H L pfd 52% Am Linseed 106'% ... 104% 103'% Am Safety Raz.. 64'% ... 64'% 65'% Amer Ice 39 ... 39 39 Amer Woolen 21% ... 21% 21’% Curtis 124% 120% 124'% 128% Coca Cola 166 ... 166 167'% Conti Can 104% 104'% 104'% 107 Certainteed ... ... 48'% Congoleum .... 26'% 26'% 26'% 27% Davison Chem ..49 ... 48'% 49'% Dupont ...392 ... 390 392 Famous Players 128 127% 128 130% Gen Asphalt .. 84% ... 84% 84% Int Bus Mch 125% Int Cm Engr.. 63% 62'% 63% 64'% Int Paper 77 Int Harvester 289% Lambert 110'% 109 110'% 111 Loews 73 ... 72% 73% Kelvinator 18% 18% 18% 19 Montgom Ward 149% ... 148% 149 Natl C R 62% 61% 61% 63 Pittsburgh Coal 46'% Owens Bottle 84 Radio Corp 199% 192 199'.% ... Rem Rand 32'% 32 32 32'% Sears-Roebuck ..105% 1051% 105',% 106% Union Carbide .150% ... 150% 149% U S Leather ... 44’% ... 44% 46'% Univ Pipe ... . 23 TJ S Cs Ir Pipe .262 ... 262 265 U S Indus Alco. .111% 111 111% 113 Wrights 173 ... 172% 176 Woolworth Cos ..188'% ... 188 188 Utilities— Am Tel & Te1...185 ... 185 185 Am Express ...199 198 199 200 Brklyn-Manh T 63’% 63V4 63% 63% Col & E 111% 111% IH'% 111> a Consol Gas 154% 154 154% 155% Elec Pow & Lt.. 39% 38% 39% 39 Interboro 38'% ... 38% 39% Nor Am Cos 73% ... 73'% 75% Nat Power 33% 32% 33 33% So Calif E 50 ... 49% 50 Std Gas &El ... 69% 69 69% 69% Utilities Power.. 41% ... 40',a .41% Shipping— Am Inti Corp ...112 109% 112 113% Atl Gulf &W I 56% ... 56'% 56'A Inti Mer M pfd 39% ... 38 38% United Fruit ...136% ... 136 137 Foods— Am Sug Rfg .... 72% 72% 72% 72% Am Beet Sugar. .. 19 Austin Nichols. 7% ... 7% 7% Beechnut Pkg ..77% ... 77'A 79 California Pkg.. 74 ... 74 74% Corn Products. 75% ... 75% 76 Cuba Cane Su p .. ... ... 28% Cuban Am Sug.. 22% ... 22% 22% Fleischmann Cos. 71 ... 70% 71% Jewel Tea 105 Jones Bros Tea,. _ • • • 32 Natl Biscull ~,169 ... 169 169 Nat Dairy 82'% .. 82 82% Posturn Cos .. .130'% 129% 130 131% Ward Baking B. 22% ... 22% 22% Tobaccos— .... Am Sumatra ... 54 ... 54 54 Am Tobacco ...159% ... 159 160 Am Tob B 158% 158 158% 158% Con Cigars 94% 92% 94 94% General Cigar .. 66% ... 66% 66% Lorillard 29 28% 29 29 R J Reynolds ...132'% ... 132% 132'% Tob Prod B 109% ... 109 109% United Cigar St 29% ... 29% 29% Schulte Ret Strs 61'A 60% 61 61V*

In the Sugar Market

(By Thomson & McKinnon) NEW YORK, June s.—The refiners, probably not feeling in need of replenishing supplies owing to the disappointing movement of granulated, were not disposed to take advantage of offerings Monday even though purchases could have been made at concessions. The future of the sugar market, if an optimistic turn is expcc;ed, is totally "dependent upon increased consumption, but when or whether this will take place shortly, cannot be determined although statistically increased consumption is due to occur any day. Eli United Press NEW YORK. June s.—Sugar futures opened lower. September 2.65, off .02; October 2.68. off .04; December 2.73, off .03; March 2.68. off .02; May 2.74, off .02; July 2.56, off .01.

In the Ootton Market

(By Thomson & McKinnon) NEW YORK. June s.—The weather Is clearing in the west and may show a tendency to do the same In the east Wednesday. On the high snots today take some profits on your cotton. By United Press NEW YORK. June B.—Cotton futures opened higher. October $21.23. up .18c: December $21.00. up .lie; January $20.95, up .12c: March $20.90, up .15: May *20.87. UP a4at Jute.ao.aa. ua.Uft.

HEAVY RECEIPTS LOWER MARKET IN HOGJJIVISION Porker Supply 11,500; Few Best Animals Bring $10; Calves Decline. May Bulk Top Receipts 29. 8.75010.00 10.00 8,000 31. [email protected] 10.00 9,500 June 1. 8.50® 9.90 9.90 11,500 2. 8.50® 9.90 10.00 4,000 4. 8.75® 10.10 10.15 5,500 5. [email protected] 10.00 11,500 Heavier receipts at the local stockyards depressed hog prices today and the top was down to $lO, paid for a few choice f butchers. The market was generally 20 cents lower. Recejpts were 11,500 and there were 242 holdovers. Cattle were strong; vealers 50 cents lower, and sheep and lambs steady in other divisions. The Chicago market opened slowly with 28,000 animals in the pens. Prices were steady to weak with Monday’s average. Several bids and a few sales in 130-260-pound weights were around $9.80® 9.85. Some strictly choice material brought bids of $9.90. Market Drops Back The entire hog market on the local exchange dropped back to Saturday’s levels in the change today. Heavy meat animals, 250-350 pounds, brought $9.75@10, 15 cents lower and material in the 200-250 pound class was off 15 to 20 cer. s, selling at $9.90® 10. Lights, 160-200 pounds, were [email protected], 15 to 20 cents lower. Light lightweights, 130-160 pounds, were a quarter down at [email protected]. Pigs were unchanged at $7.25 @8.25 and packing sows went at [email protected], off 25 cents on the top. Cattle were strong today with beef steers selling higher at $12.50 @14.30. Cows were unchanged $8.50@11 and low cutter and cutter cows brought [email protected]. Bulk stock and feeder steers were [email protected]. Receipts were higher at 1,300. Vealers Lose 50 Cents Best vealers sold at sls® 16, dropping 50 cents on the hundredweight. Heavy calves were unchanged at s7@ll. There were 1,100 animals brought to the yards. Sheep and lambs were steady. The market is composed mostly of spring lambs, and receipts today were 600. The top was sl9 and bulk fat lambs sold at sl6® 18.50. Bulk culls brought $10.50® 13, while fat ewes were [email protected]. — Hog* — „„ .Js*f cipts - “ SOO; market, lowjr. 230-350 lbs $ 9. (5® 10.00 200-250 lbs 9 90% 10.00 *BO-200 bs 9!o'-/ in.oo Packing sows •. 8.154/ 9.25 —Cattle— Receipts, 1.300; market, strong. Beef steers $12.504t 14.30 Beef cows 8 50® 11.00 Low cutters and cutter cows.. 5 75® 750 Bulk stock and feeder steers., 7.50@ 9.50 —Calves— Receipts, 1,100: market, lower. Best vealers $15.004716.00 Heavy cal’es [email protected] —Sheep— Receipts. 600: market, steady. Top fat lambs $19.00 Bulk fat lambs 16 004718.50 Eulk cull lambs 10.504/13.00 Fat ewes 6.00® 7.50

Other Livestock By United Press CHICAGO. June 5.—-Hogs—Receipts. 28.000: market mostly steady to 5c higher on better grade, scaling 180 lbs. up; lower grade and lightweights slow, weak to 10c lower; top. $9.95. paid for choice 200-250 lb. weights; butcher*, medium to choice. 250-350 lbs., $9.25*19.95: 200-250 lbs.. $9.25 09.95: 160-200 lbs.. $8.60@ 9.95: 130-160 lbs.. $7.60*19.60: J3O-160 lbs.. $7.6009.60; packnig sows. [email protected]; pigs, medium to choice. 90-130 lbs., $7.250)8.40. Cattle— Receipts, 8,000; calves. 4.000; gbod market on light steers and yearlings; heavy eteers slow, steady: yearling heifers up to $14.50, largely steer run; s ockers and feeders very scarce; slaughter - .asses, steers, good and choice 1,300-1,500 ,os., $13.25014.75: 1.100I. lbs., $13.40® 14.90: 950-1.100 lbs., $13,400)14.90: common and medium. 50 lbs.. $10013.40; fed yearlings, good and choice 750-950 lbs.. $13,400)14.90; heifers, good and choice 50 lbs. down. $13.25© 14.50; common and medium. $8.75(0)13; cows, good and choice. $9(011.75; common and medium, $7.75<5>9; low cutter and cutter. s6© 7.75: bulls, good and choice, beef, S9O) 10.50; cutter to medium. $7.75® 9.50; vealers. milk fed. good and choice. sl2© 15.50: medium. $11012; Stockers and feeding steers, good and choice, all weights, $11.75® 13: common and medium, $9.50(0 11. Sheep—Receipts. 10,000; most early sales fat lambs, yearlings and sheep unchanged. quality considered: indications around steady on small supply feeding lambs; lambs, good and choice 92 lbs. down. $17.50® 19.35; medium. *16.25(017.50; cull and common, *13.75® 16.25; ewes, medium to choice 150 lbs. down, $5®8.65; cull and common. [email protected]. By United Press EAST BUFFALO, June s.—Hogs—Receipts. 700; holdovers, 1.707: market. 10(0 15c higher: 250-350 lbs.. [email protected]: 200250 lbs.. $10.25® 10.40; 160-200 lbs.. slo® 10.40: 130-160 lbs.. $9.25(510; 90-130 lbsl. $8.75® 9.25; packing sows, $8.2508.75. Cattle—Receipts. 50. Calves —Receipts. 1350: market, steady; beef steers, $12.85© 14.50: light yearling steers and heifers. sl3 @14.25; beef cows, [email protected]; low cutter and cutter cows. $4.50(07; vealers. sl7® 17.50. Sheep—Receipts, 600; market, steady; bulk fat lambs, $13(520: bulk cull lambs. $13(016; bulk fat ewes, [email protected]. By United Press CLEVELAND. June s.—Hogs—Receipts. 1.500: market steady; 250-350 lbs.. $10.15® 10.25: 200-250 lbs.. $10.15010.25: 160-200 lbs.. slo.lo® 10.25: 130-160 lbs.. $8.75(010.25: 90-130 lbs.. $8.5009.75: packing sows, $8.25 (58.50. Cattle—Receipts. 250. Calves—Receipts. 350: market, no steers here, cows steady; beef cows. SBOIO 50: low cutter ana cutter cows. $6 0 7.50; vealers. $14.50 @17.50. Sheep—Receipts. 500: market, steady to weak: top fat lambs. $19.50; bulk fat lambs. $17(519; bulk cull lambs. sl4® 16; bulk fat ewes, $6.50(5:7.50. By United Press PITTSBURGH. June s.—Hogs—Receipts. 1,000; market steady to 5c lower; 250-350 lbs., $9.75010.20: 200-250 lbs.. $10010.25; 160-200 lbs., $10.10(510.25: 130-160 lbs.. [email protected]; 90-130 lbs.. $8 0 9.50: packing sows. $7.50(5 8.50. Cattle—Receipts, 25; calves, receipts 25; market steady; calves slow, fairly steady; beef steers. $l2O 14.50: light yearling steers and heifers. $10.50© 13 50; beef cows. $9010.50; low cutter and cutter cows, $6(5 8; vealers. $15017; heavy calves, $9014. Sheep—Receipts, 200: market steady; top fat lambs, sl9; bulk fat lambs, $16018.50; bulk cull lambs, sl3® 15; bulk fat ewes. $6.50@9. Bu Times Special LOUISVILLE. June s.—Hogs Receipts, i 600; market steady; best heavy and medium hogs, 175 lbs. up, [email protected]; pigs and lights. 175 lbs. down, $608.30; throwouts and stags, $6.8507.45. Cattle Receipts, 106: market steady, prime heavy steers, $12@13; heavy shipping steers. sll @l2: medium and plain steers. $9.50011; fat heifers. $9013: choice fat cows. $8.50® 10.50; medium to good cows, $6.50® 8.50; cutters. $5.5006.50; canners, $4.50© 5.25; bulls. s6®9; feeders. $9011.50; Stockers, $8.50 011.50. Calves—Receipts, 200; market steady; good to choice, $11.50©13.50: medium to good. [email protected]: outs. $9.50 down. Sheep—Receipts, 1,000; market steady: best mixed lambs. $18.50; ewes and wethers, sl9; seconds, $12@15; sheep. $7 @7.50; bucks, $4 down. Monday's shipments: Cattle. 331; calves. 552; hogs. 1,136; sheep. 2,097. By United Press CINCINNATI, June s.—Hogs—Receipts. 4,400. holdovers. 915; market, 10c lower; 250-350 lbs.. $9 85©10.15; 200-250 lbs.. $lO @10.15; 130-160 lbs.. $8.50® 9.50: 90-130 lbs.. [email protected]: packing sows, $7.7508.75. Cattle—Receipts. 250. Calves—Receipts. 400. market steady: veals 50c higher; beef steers. [email protected]; light yearling steers and heifers. [email protected]; beef cows. s9® 10.50; low cutter and cutter cows. $5.5007.50; vealers, $12015.50: heavy calves. s9© 12; bulk stock and feeder steers. $10.50011.50. Sheep—Receipts, 1.000: market, strong 50c higher; top fat lambs, $18.50; milk fat temhy >USQ

THE INDIANAPOLIS TIMES

Moderator

Dr. Hugh K. Walker of Los Angeles is the new moderator of the Presbyterian church, chosen at the recent general assembly in Tulsa, Okla.. Dr. Walker defeated an uncompromising fundamentalist.

Produce Markets

Butter (wholesale price)—No. 1. 47348 c; No 2, 45®46c lb. Butterfat (buying price)—4sc lb. Cheese (wholesale selling prices. per fioundi —American loaf. 34C; pimento oaf, 344/ 36c; brick loaf. 34c; Swiss. 39c; Wisconsin flat, 30c; prime cream, 25/;27c; flat daisy, 26fr/27c; Longhorn, 26%®27%c; New York limberger, 32c. Eggs—Buying prices: Fresh, delivered at Indianapolis, loss off. 234724 c doz. Poultry (buying price)—Hens. 21@22c; lb.; Leghorn hens, 18c; 1928 spring. 1% to 1% lbs., 32c; 2 lbs. and up. 33'8>34c: Leghorns, 29c; old roosters, 10c; ducks, lip; geese. 84£10c; guineas, old 35c, young 50c. By United Press CLEVELAND, June s. —Butter—Extras In tub lots, 45%@47%c; extra firsts, 42%4c 44%c; seconds, 38%'<f40%c. Eggs—Extras, 32c; extra firsts, 30c; firsts, 27(<i.27%c; ordinary. 27c. Poultry—Express stock heavy broilers. 404/.45C; Leghorns, 32 '3sc; heavy fowls. 27c; medium stock, 27c; Leghorns, 22%24c; old roosters, 154/16c; old ducks, 21%24c: geese. 16@17c. Potatoes--150-pound sacks, round white Michigan, Wisconsin and Minnesota, $2.50'/2.65; 110 to 120-pound sacks Idaho russet Burbanks, $24)2.15; Florida Hastings. $44/4.25 per barrel; 150-pound bags, $3; South Carolina, barrels, $3.75. By T T nitrd Press NEW YORK, June 5 —Flour—lrregular and unsettled. Pork—Easier: mess, S3O. Lard—Steady; midwest spot, 512.15 12.25. Sugar—Raw. weaker: spot 96 test, delivered duty paid, 4.40 c: refined, quiet; granulated, [email protected]. Coffee—Rio 7s on spot, 15%4/15'jc; Santos 4s, 23%%24%c. Tallow—Steady; special to extra. Bfiß%c. Hay—Dull, but steady: No. 1. $1.25: No. 3, 85c4/$1.05; clover, 75c'a$1.10 Dressed poultry, steady; turkeys. 255/ 47c: chickens. 26#45c; broilers, 30@45c; fowls, 144/31c; ducks. Long Island. 22c. Live poultry Steady; geese, 10® 12c; ducks. 154/24c; fowls, 224/28c; turkevs. 15 /30c; roosters, 16c; broilers, 15tfi30c. Cheese—Firmer; State whole milk, fancy to specials, 30® 32c; young Americas, 26c. Potatoes Long Island, $2.504/2.75: souhtern. $1.5041 3 25; Maine, $2% 2 85; Bermudas. $2.50 /5. Sweet Potatoes—Jersey, basket. 75c;/$3.50. Butter—Easier; receipts. 27,317; creamery extras, 43'jc; special market. 444/ 44%c. Eggs—Steady; receipts. 57,197: nearby white fancy, 35% 36c; nearbv State whites, 304/34c; fresh firsts. 28% < 29c; western whites, 30% 32c: Pacific coast, first to extras, 29@38e; nearby browns. 29%4/,36c. Other Livestock fiji United Press TOLEDO. June s.—Hogs—Receipts. 800; market, steady on lights: 15c up on mediums: heavies. $9,504/9.75; mediums. $9,904/ 10: Yorkers. $9,604/9.90: good pigs, $7,754/ 8.25. Cattle—Receipts, light; market, steadv. Calves—Receipts, light; market, steady. Sheep and lambs—Receipts, light; market, steady.

NATIONAL JEWELRYMEN DISCUSS PROFIT BOOST Flection Today Will Close Two-Day Session of Wholesalers. Placing emphasis on increased profits, rather than volume, was discussed by leading wholesale jewelers at the twenty-first annual convention of the National Wholesale Jewelers’ Association at the closing sessions today at the Claypool. Election of officers will be held late this afternoon. First Vice President A. C. Becken, Chicago, is slated to succeed R. J. Petersen, Buffalo, N. Y.. to the presidency. Leaders in the morning discussion, which was on “Cut Price Competition,” were W. C. Harris, Chicago; H. W. Burdick, Cleveland, and H. L. Carpenter, Providence, R. I. Report of Treasurer L. P. White, Philadelphia, Pa., was presented by him. Luncheon for women was given at the Indianapolis Country Club at noon and an automobile sightseeing tour of the city followed. SCHOOL HEADS MEET State Superintendent Addresses Annual Conference. The growth of the curriculum plan begun this year by Roy P. Wisehart, State school superintendent, was described by him to the ninety-two county school superintendents meeting today in the House of Representatives for their annual conference. “Progress in rural education was discussed by Roy R. Roudebush, assistant State superintendent .and “Character Education*’ was the subject of W. W. Charters of Chicago University. K. W. Hemner, president of the County Superintendents’ Association, presided. Election of officers will be the closing business of the conference. TOTAL VOTES REDUCED Hall and Updike Both Lose in Recount; Campbell Gains. Archibald M. Hall lost twenty-five and Congressman Ralph Updike nineteen votes in the six precincts of the Third ward, four to nine inclusively, on recount now in progress at the courthouse, it was announced today. Paul Brown, successful candidate for the Republican nomination for county surveyor, lost forty-seven and Henry Campbell, present holder of the office, gained twenty-nine in the same precincts. Recount was ordered by Circuit Judge Hany M. Chamberlain upon complaint of Campbell and Hall The latter was defeated for the Republican congressional nomination by Updike.

Group Eight Bankers Meet By United Press * EVANSVILLE Ind., June 5. About 400 members of Group Eight, Indiana Bankers’ Association, are here today for an all-day meeting. The Group was addressed by O. Oliver Holmes, Gary, and Robert C. Buston, Lafayette. A. C. Wise, Washington, presided. _

CORN IRREGULAR AS WHEAT GOES LOWERJN MART Oats Follows Major Grain Decline Brought by Good Weather. Bn United Press CHICAGO, June s.—Favorable weather reports sent wheat sharply lower at the opening on the Board of Trade today. Corn was irregular at the opening, while oats followed wheat. At the opening wheat was down 1 to 2c; corn was tic lower to tic higher; and oats was off %c. Provisions opened higher. Although there was no rain over the American northwest wheat belt Monday night, it is cloudy today and rain is expected. Weather over the rest of the American belt is unsettled with some showers overnight. Liverpool was weaker this morning because of heavy rains in the Canadian belt. Deferred deliveries of com are being sought on the light movement from farms. Prospects for the new crop continue favorable with more rain overnight. Warmer weather is needed now.

Chicago Grain Table —June 5 WHEAT— Prev. High. Low. 12:00 close. July 1.47% 1.44% 1.45 1.47% September ... 1.48% 1 46% 1.46% 1.49% December ... 151 1.48% 1.48% 1.52 CORN— July 1.05% 1.04% 1.05 1.05'% September ... 1.04% 1.03% 104'* 104% December ... .89% .88% .88% .89% OATS— July 57 .56% .56% .57 September ... .46% .46% .46% .46% December ... .48% .48 .48 .48% RYE— July 1.29% ... 1.27% 1.29% September ... 122% 1.20% 120% 122% December ... 1.23 1.21% 1.22 1.23% LARD— July 12 00 1192 12.00 September .. 12 35 12 35 12.25 12.32 October .... 12.50 12.40 12.45 RIBS— July 12.25 .... 12 25 12.30 September .. 12.52 12.52 12.55 By Times Special CHICAGO. June 5 —Carlots: Wheat, 23; corn. 179: oats, 49: rye. 16.

Commission Row

PRICE TO RETAILERS FRUITS Apples—Fancy barrel apples, seasonable varieties. ss@9 50: fanev basket apples, seasonable varieties, $2.75@3, 40 lbs.; choice box apples, seasonable varieties, $3.50f./ 4.75. Apricots—ss.2s crate. Cantaloupes—California. $3.25434.25 crate. Cherries—California, $2.25fii.3. 8 lbs. Grapefruit—Florida, s4®B crate. Lemons—California, s7@9 crate. Limes—Jamaica, $3. 100 Oranges—Florida. s74> 10 crate; California valenclas, $6.75% 9.25 crate. Pineapples—Cuban, $3.25®4. Strawberries—Tennessee Aromas. $4, 24-qt. crate: Tennessee Klandlkes. $3. 24qt. crake; New Albany. $3.50, 24-qt. crate. VEGETABLES Asparagus—Green, 90c doz. bunches, white, 65c. Beans—Southern, $2.50 hamper; Valentines. $2 hamper. Beets—Fanev southern. $1.50 hamper. Sabbage—Mississippi, $2.75; Alabama, $3 crate. Carrots—Louisiana. 65c bu.; Texas. $3.50. 10 dozen crate. Celery—Florida. [email protected] crate. Sucumbers—lndiana hothouse, $1 50 box of 1 doz. Eggplant—H. G.. $2 doa. Kale—Spring, 65c bu. Leek—7sc bunch. Lettuce—California, $4 crate: hothouse, leaf, 75c 15 lbs. Mustard—Fancy, H. 0., 65c bu. Onions Home-grown, green. 354340 c doz.; new Texas yellow. $1.75 crate; Texas Vystal wax, $1.90 ciate; Texas Bermudas, $1.90 crate. Parsley—sl doz. bunches Parsnips—Home-grown. $1.25 bu. Peas California Telephone. $3 hamper. Peppers—Florida mangoes, $6.50 crate; mangoes, $3.75 hamper. Potatoes—Michigan, white. $2.60, 150 lbs.; Mlnesota Red River Ohlos, $2, 120 lbs., Idaho, $2.25; 120 lbs.. Texas, new $4.25 cwt.: Florida Rose. $4.75 bl!.: Texas Triumphs, $6.50 bll.; Alabama Triumphs. $2.25 cwt. Radishes—Hothouse, button. 45c doa. bunches: southern long red. 30c doz. Rhubarb—Home-grown. 30c doz. Spinach, Fanev Kentucky. 60c bu. Sweet Potatoes—Porto Ricans. $2.50 hamper. Tomatoes—Repacked. $5.25@625: 6basket crate; fancy Florida originals, $4 @5. Turnips—sl.so®l.7s per hamper. MISCELLANEOUS Cider—s4.so 6-gal. case; $4.75 doz. hallgal. )ars. Garlic—California, 25c lb. Births Girls John and Lena Hardester. 2030 Cornell. William and Martha Mosler, 320 W. Twenty-Eighth. Ernest and Geneva Greeson, 74 N. Holmes. Carl and Helen Rusle. Methodist Hospital. Harold and Emma Vance. 2182 Madison. Doll and Mebel Allison. 2627 Blovd. Fenton and Minnie Johnson, 1619 Cornell. Roseoe and Cleo James. 1634 Martindale. Boys Thomas and Lazatna Franklin, 1647 Arsenal. Fred and Garnet. 318 Eastern. Lovd and June Renison. 2028 Houston. Edward and Florence Kirkhoff, 1458 8. East. Deaths Charles Francis Hu'.s. 79, 859 W. Thirtieth. chronic myocarditis. Fred Norman Cruse. 35, Methodist Hospital. chronic appendicitis. Wilhelmenia Ml Wenning, 73. 2517 Webb, apoplexy. Catherine Marie Hafer, 27, 2817 S Capitol, septicaemia. August Pope, 56, city hospital, myocarditis. James Bigsby. 36, 2119 Boulevard Pl„ lobar pneumonia. Fannie Boyd, 58. 738 W. Twenty-Sixth, pulmonary tuberculosis. Lindsay Kendricks. 75. 2833 Hillside, chronic interstitial nephritis. Anna Gravden, 44, Methodist Hospital, pyelonephritis. Infant Alston, 1 day. city hospital, premature birth. Walter M. Boykin. 3 days. 302% N. Noble. cerebral hemorrhage. James Wesley Mitchell. 58, 1616 Sheldon, myocarditis. Hannah Lula Luttrell. 63, Christian Hospital, cirrhosis of liver. Ada J. Lowe, 28. 1135 Vincennes, acute mvocarditis. Mary Lea. 65. St. Vincent’s Hospital, cerebral hemorrhage. PENNY PROFITS END Policeman Stops Newspaper Thefts by Kendallville Boy. By United Press KENDALLVILLE, Ind„ June 5. Policeman John Boggs, this city, has solved the disappearance of newspapers from business houses along Main St. Boggs, a night officer arrested a local young man, whose name was not revealed, who according to the officer, was collecting newspapers from the front steps of the business houses after carriers had left them. The boy was seeking to make a few cents daily by collecting the papers and disposing of them in dining cars and restaurants the policeman said. Public Refugees in Mock War NEW YORK, June s.—The army has appealed to the public to lend live stock to add realism to a sham battle to be held on Governor’s Island. The stock will be used by “refugees” who will abandon a miniature town during the bomh&rdmentt

News of City in Brief

WEDNESDAY EVENTS Democratic State Convention, Cadle Tabernacle, all day. Lions Club.luncheon, Lincoln. Junior Chamber of Commerce luncheon. Chamber of Commerce. Klwanis Club luncheon, Claypool. Purdue Alumni Association luncheon, Severin. Indianapolis Round Table luncheon, Lincoln. . _ , . Lambda Chi Alpha luncheon, Board of Trade. ... , Master Plasterers’ Association luncheon. Severln. The Indiana Duroc Swine Breeders’ Association is to hold its seventh annual picnic next Tuesday at Broad Ripple ark. Second Lieut. Herman H. Lauter, 3046 Washington Blvd., has been promoted to first lieutenant in the infantry reserve, according to announcements made today by the War Department. Regulation for plumbing Installation issued by the State Building Council have the force and effect of laws if they do not conflict with any of the existing laws, Attorney General Arthur L. Gilliom ruled in an opinion to Dr. William F. King, secretary of the State health board, and president of the Building CounciL “Salesmanship’* will be the subject of H. N. Tolies of Chicago, president of the Sheldor School, at the Indianapolis Real Eitate Board luncheon Thursday at the Chamberof Commerce, Tolies has been conducting a class on salemanship attended by many Chicago realtors. Phone service to all parts of Germany will be opened Wednesday, F. A. Montrose, general manager of the Indiana Bell Telephone Company, announced today. The rate from Indianapolis and other Indiana cities will be the same as the present rate to Berlin, $53.25 for the first three minutes and $17.75 for each minute thereafter. The service will be available from 5:30 a. m. to 9 p. m. C. G. Dunphy, Chamber of Commerce assistant industrial com-

SELECT GROUP FORWOOLLEN Democrats Will Name 26 Delegates Tonight. Charles R. Remster, attorney, and William J. Mooney, president of the Mooney-Mueller-Ward Company, wholesale druggists, today appeared the probable choices of Seventh district Democratic Staty convention delegates to represent the district at the national Democratic convention at Houston. Two national convention delegates will be elected at each of thirteen district meetings of State convention delegates tonight in the SLtehouse. Remster was slated for national delegate, it was said, when Meredith Nicholson, novelist and city council member, indicated his unwillingness to accept. The thirty delegates from Indiana will support Evans Woolen, local banker, for the nomination for President as long as Woolen’s name remains before the convention. Remster and Mooney, it was believed, would go to A1 Smith upon Woollen's withdrawal. Uncertainty existed as to the personnel of the Indiana “big eight” delegation at large, members of which will be elected on the floor of the State convention Wednesday. Today’s conferences were expected to bring changes in the original slate which included: Thomas Taggart, William H. O’Brien of Lawrenceburg. Lew G. Ellingham of Ft. Wayne, William Cronin of Terre Haute, A. C. Sallee, vice president of the Woolen-for-President organization; Mrs. Samuel M. Ralston, Mrs. Thomas R. Marshall and Mrs. John W. Kern. “Big eight” selections, too. were influenced by the second choice tendenceis of prospective delegates. While Woollen forces were claiming the “friendship” of Smith, there was apparent friendliness in the ranks to the candidacy of Senator James R. Reed of Missouri. AMUSEMENTS

w ir | voip z Cr r. J ’ LI nlw KELLY and JACKSON ( IN THEIR COMEDY ODDITY “OH, MAY!” BONNIE MILLER & CO. MILDRED FORCE. W. H. GROH AND HIS PIANO" HOUNDS. MABEL HALEY AND THE JOYCE SISTERS. HANLON BROTHERS. GREEN A AUSTIN. NEXT WEEK Special Return Engagement PARISIAN REDHEADS America'* Greatest Girl Band.

STUART WALKER n COMPANY k W(tAv>rsT > kMlwHm III) AtlOAt Ul

PRESENTS WOODEN KIMONO The Creepiest Mystery Comedy Since “The Bat” Nightly. 8:30. Mats. Wed.-Sat., 3:30 Daylight Saving Time S ‘MNTERFERENCE” With George Gaul, Larry Fletcher, Marie Adel*

ENGLISH’S N 8:30 Daylight Saving Tims BERKELL PLAYERS sat^r Playing “TOMMY” Nites: Mats.: Ssc-50c-990 25c-35c-50fl S?

missioner, today was reported to be improving following an operation for appendicitis at 3 a. m. Monday at the Reed Memorial hospital in Muncie. Dunphy became ill suddenly Sunday while visiting his faher, C. W. Dunphy, a Richmond. Mayor L. Ert Slack will address the Triangular Boulevard Association, Inc., a community club, at the home of Dr. Norris E. Harold, 1454 Fairfield Ave., Wednesday night. The club has approximately 300 member’s, President Oscar Schmidt said. Joseph B. Jones, Fayette County farmer living two miles east of Connersville, today filed a voluntary bankrutcy petition in Federal Court, listing $1,610 liabilities and $193 assets.

WHEELER'S LOSS BEGINS TO TELL ON DRY LEAGUE Report on Anti-Wet Drive Reveals Decrease in Political Power. BY RAY TUCKER WASHINGTON, June s.—The loss of political power suffered by the Anti-Saloon League through the death of Wayne B. Wheeler, general counsel, has been strikingly revealed in the presidential campaign. Though two of the drys’ bitterest enemies are the leading contenders for the Democratic nomination, the prohiDitionists have been able to raise only $2,922 to carry on a na-tion-wide campaign against them. An appeal for the sum of $25,000 brought only one-eighth of that amount, Edward B. Dunford, counsel for the Anti-Saloon League, reported in testifying before the Senate Campaign Expense Committee. Other testimony by Dunford showed that the drys’ attack on the New York Governor and Missouri Senator has been lacking in the funds, driving power and enthusiastic spirit Wheeler was accustomed to muster when his organization had a great deal at stake. Wheeler’s Calmness Missing The $2,922 response to the financial appeal is in striking contrast to statements by Wheeler before his death that the league would have a tremendous fund with which to block the nomination of a wet. Moreover, Wheeler used to have almost 100 per cent success in collecting the amounts he thought ”ecessary. Dunford himself offered a great contrast to the tireless and able counsel who led the league in many other presidential fights. He gave his testimony in nervous fashion, frequently biting his lips and mumbling. Wheeler never faltered under the biting cross-examination of Jim Reed himself. Wheeler always had Information regarding national and State dry activities ready on his tongue. Dunford asked to be excused from giving data concerning the State groups, and the committee gave him several days to furnish it. Anti-Smith Pamphlets The only activity against Smith, the lawyer said, had been the circulation of pamphlets setting forth his wet record, and criticism of him in the league’s national newspaper, the American Issue. That publication has also mentioned Reed in a critical tone. The Sttae organizations have conducted campaigns of their own, but Dunford made clear that there was no central body functioning throughout the Nation, as way always the case when Wheeler held the helm. MOTION PICTURES

/ | P^|uismruuv>E ■l,m mnmu A. V Reiner V* e Get Your Share—“HAPPINESS AHEAD" For Every One With COLLEEN MOORE Coming Saturday CIRCLE

.JUNE 5, 1926

SENATUR NORRIS CLAIMS SHOALS BILL WILL PASS Find Court Rule Allowing Coolidge More Time Before Signing. BY ROSCOE B. FLEMING WASHINGTON, June s.—“Very little doubt” exists in the mind of Senator George W. Norris, chairman of the Senate Judiciary Committee, that trie Muscle Shoals bill will become a law If President Coolidge takes no action on it by Thursday, the time limit, Norris said today. To argue that the bill is dead, he said, would be to nullify those clauses in the Constitution which gives Congress not only the right but the duty to pass upon presidential disapproval of a bill. “Most people think a bill’s dead If the President doesn’t act upon it during an interim adjournment such as this, between two sessions of the same Congress. In fact, I thought so myself, before I began looking up the precedents,” he said. Cites Court Ruling “But I have found a Supreme Court decision which affirmed the President’s right to sign a bill during a Christmas recess lasting more than the ten days he Is given by the Constitution to consider a bill during congressional sessions. “I have found that President Wilson was advised by his attorney general that he had the right to sign, bills during a recess and notify Congress of his action when it reassembled, and that he so signed many bills. “I have found many State cases where State Supreme Courts decided that the Governor had failed to return a bill during a recess of the State Legislature, within his constitutional ten days or whatever the period might be, and that the bill thereby became a law. Wilson Set Precedent “Os course these State cases are not exactly on all fours with a Fed- ( eral case, but they point the Way." Norris said the Wilson precedent was especially interesting, because Wilson, by signing the bills and notifying Congress when it reconvened. set up a method by which Coolidge might act upon the Muscle Shoals bill and return it to the officials of Congress for his action to be considered next fall.

MOTION PICTURES

ISSISft NOW pLAYING GILDA GRAY IN PERSON with Amprlque and Neville and a great cast on the screen. ‘The Devil Dancer’ With OUVIS BROOK United Artiste Picture EMIL SEIDEL & ORCF LESTER HUFF at the Organ —NEXT WEEK—RAMON NOVARRO In “Acros* to Singapore** and 3 Stage Shows

FOUNTAIN] . SQUARE

APOIIO nHHHHr A Hilarious Comedy Romance Sammy Ted Cohen & McNamara “Why Sailors Go Wrong” With Nick Stuart and Sally Phipps Vitaphone i Movietone ACTS 1 HEWS

OHIO

Big New Summer Policy! 2 Program Change* Weekly! Now Playing IRENE RICH “Beware of Married Men” All Seat*, 25c. Kiddie*. 13c.

WOMEN ONLY “PITFALLS OF PASSION’’ 1928 SEX DRAMA EXTRA ATTRACTION Dr. .lame* Weart *peak* at each performance on “The Beauty and Sorrow of Love and Puatlcn.’* BANDBOX I£H7s>