Indianapolis Times, Volume 40, Number 30, Indianapolis, Marion County, 15 June 1928 — Page 33

JUNE 15,1928'.

LEADING ISSUES SELL LOWER IN EARLYMARKET Relatively .Small Decrease j: in Brokerage Loans Disappointing.

Average Stock Prices

Average of twenty industrials Thursday ■was 210.76, up 1.75. Average of twenty rails was 138.16, up .53. Average of forty bonds was 97.11, up .20. Bu United Press NEW YORK, June 15.—Leading Issues sold off in the early dealings on the stock market today reflecting disappointment over what was considered a relatively small decrease in brokerage loans reported after the close Thursday. General Motors declined a point to 181%; Steel, a point to 140; Radio, l a i to 176%; American Can, % to 86%; Hupp, 1% to 56%, and Hudson Motors, 1% to 83. Oils were active with Standard of New Jersey, featuring.. The opening transaction of this stock involved 10,000 shares at 44, up %. Richfield made a similar gain and other oils showed a firmer tendency. Rails Hold Well Railroad issues held fairly well, with Pennsylvania selling up % at 54%, and New York Central, up % at 175%. Missouri Kansas Texas gained % to 32%. Utilities led by Consolidated Gas and National Power-and Light were in demand. Mail order shares and coppers also gained. After the selling in leaders in the first few minutes of trading prices came back fractionally. Describing the market, the Wall Street Journal’s financial review today said: “Wall Street hailed the sweeping nomination of Hoover as an indication of harmony in the Republican ranks. Good feeling was also aroused by the reduction of $135,549,000 in brokerage loans during the week ended June 13, which was the largest decrease in any week for the last two years. Loss of Gold “However, the effects of these developments were offset by a further loss of $28,000,000 in gold last week, which caused the ratio of the Federal Reserve Bank of New York to drop to 67.2 per cent against 81.2 per cent a year ago. ‘SAs a reesult, price movements in early dealings were irregular, with changes in active stocks relatively small.” Trading turned extremely dull following the abrupt reaction around 11 o’clock. Support appeared for pivotal shares after recessions running up to four points and a somewhat firmer tone developed around noon. Lifting of pressure probably was due to the easier tone in call money. Large offerings of funds came from the interior and call money was available outside at 5% per cent against the official rate og 5% per cent. However, trading sentiment was bearish and attempts to rally the general list encountered stubborn resistance.

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were 83,687,000. Debits were $7,698,000. FOREIGN EXCHANGE Pel United Press NEW YORK, June 15.—Foreign exchange opened lower. Demand sterling $4.3774; francs 3.92 25-32, off .00 3-32; lira. 5.2574 c; Bclga, 13.9574 c, off .0074; marks, 23.88 c.

Indianapolis Stocks

—June 15— Bid. Ask. Amer Central Life 600 Belt R R & S Yds com 70 72 Belt R R & S Yds pfd ....... 60 ... Central Ind Power Cos pfd.... 99 10174 Circle Theater Cos com 10274 105 Cities Service Cos com 6774 ... Cities Service Cos pfd 102 Citizens Gas Cos com 57 58% Citizens Gas Cos pfd ....101 103 Commonwealth Loan Cos pfd.. 99% ... Equitable Securities Cos com.. ~ ... Hook Drug Cos com 3174 ... Indiana Hotel Cos com 125 Indiana Hotel Cos pfd 101% Indiana Service Corp pfd ... 90 ... Tndiahapolis Gas Cos com .... 62 63% Indpls & Northwestern pfd... 12 Indpls P & L 6%s pfd ... 104 10674 Indpls P & L 7s 101 ... Indpls Pub Wei Ln Assn 4774 ... Indpls St R.v Cos pfd .......... 31 33% Indianapolis Water Cos pfd...103 .... Interstate P S C prior lien.. 106 109 j Interstate P S C 6s pfd ....96 99 Merchants Pu Utilities Cos pfd. 101 ... North Ind Pub Sery Cos 6s ...100 103 Northern Ind Pub S Cos 75...1'0 ... Progress Laundry Cos com ..... 30 74 ••• E. Kauh & Sons Fert Cos pfd.. bu Real Silk Hos Cos pfd • • ... Standard Oil of Indiana 7574 ... Th I & E Trac Cos com 1 T H I Sc E Trac Cos pfd 12 ... T H Trac &Lt Cos pfd 92 100 Union Trac Cos com *4 Unio# Trac. Cos. Ist 1 Union Trac Cos 2nd pfd.. l . 74 Union Title Cos com 80 Van Camp Pack Cos pft ... 6 ... Van Camp Prod Ist pfd 98 102 Van Camp Prod 2d pld 90 100 *Ex-divldend. —Bonds— Belt R R & Stk Yds 4s 90 ... Broad Ripple Trac Cos 65.... 79% 8274 Central Ina Gas Cos 5s 98 ... Central Ind Power Cos 6s ....104 Chi S B N Ind Ry 5s 15 ... Citizens Gas C 5s 105 107% Citizens St RR 5s 87% 90 Citizens St R R 5s 89 91 Gary St Ry 5s 88 90 Home T Sc T of Ft. Wayne 6s. .103 Indiana Hotel Cos 5s 101 ... Ind Northern Trac Cos 5s .... ... 6 Ind Ry Sc Lt Cos 5s 97% ... Ind Service Corp 5s 95 ... Indpls Power and Lt Cos 55., 98 100 Ind Union Trac Cos 5s .. i 2% ... Indpls Col Sc So Trac 6s 10274 105 Indpls Gas Cos 5s 101% 105 Indpls & Martins Trac Cos 5s 25 Indpls North Trac Cos 5s ...... 13% ... Indpls Sc Northw Trac Cos 5s 25 ... Indpls St Ry 4s 66 67% Indpls Trac & Term Cos 5s .... 95 96 Indpls Union Ry 5s 100 Indpls Water Cos 574s 102 74 ... Indpls Water Cos Ist 5s ..98 ••• Indpls Water Cos 474s 97 ... Water Works Sec 5s 96 99% Interstate Pub S Cos 474s ...... 88 Interstate Pub 8 Cos 5s 98 ... Interstate Pub S Cos 6%s 105 N Ind Pub Ser 5s 99 ... T H I & E Trac Cos 5s 50 51 T H Tr Sc Lt 6s . 96 Union Trac of Ind yo 6s ..... 13 ... —Liberty Bonds—• Liberty Loa nlst 374s 100.12 100.32 Liberty Loan Ist 4 74s 101.20 Liberty Loan 3d 4'4 s 99-92 15212 Liberty Loan 4th 4%s J 01.96 l??}? U S Treas 474s 112.96 U S Treas 4s .4 108.40 108.60 U S Treas 3%s 105.86 106.06 U S Treas 3%s 101.86 102.06

Local Wagon Wheat

Local grain elevators are paying $1.55 for No. 2 red wheat. Other grades are purchased on their merits. British Actress Married Bu United Press DORKING, ENG., June 15.—Miss Gladys Cooper, prominent British actress, was mar lied today to Sir Neville Pearson, the publisher, at dthe Surray registry office. 4 4 k _

Follies Dancer to Wed Scion ofN. Y. Wealth

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I Claire Luce Bu Times Special NEW YORK, June 15.--When Claire Luce, the Ned Wayburn dancer recently featured in the '‘Follies,” steps to the altar with Clifford Warren Smith, the New York millionaire playboy, she will become the mistress of a fortune which, with increasing inheritances, will approximate $200,000,000. This estate represents huge mining, real estate and cattle properties amassed by Benjamin F. Smith, one of four famous Boston brothers of that name, who is grandfather of the bridegroom. Miss Luce was discovered by Wayburn in Rochester and trained for the stage under his direction in New York.

Commission Row

PRICE TO RETAILERS FRUITS Apples—Fancy barrel apples, seasonable varieties, 55®9.50; fancy basket apples, seasonable varieties, $2.75@3, 40 lbs.; choice box apples, seasonable varieties, $3.50® 4.75. Apricots—s2.7s#3 crate. Cantaloupes—California, $3.2504.25 crate. Cherries—California, $2.2503, 8 lbs. Grapefruit—Florida, $405 crate. Lemons—California, $7®8.50 crate. Limes —Jamaica, $3, 100. Oranges—Florida, s7® 10 crate; California valencies, $6.750 8.50 crate. Pineapples—Cuban. $3,250.5 crate. Plums—s2.7s®3 crate. Strawberries—New Albany, $2.5003.75, 24-qt. crate. VEGETABLES Asparagus—Green, 75c doz. bunches, white, 65c. Beans—Southern, $3 hamper; Valentines, $2 hamper. Beets—Fancy southern, $1.50 hamper. Cabbage—Mississippi, $1.75; Alabama, $2 crate. Carrots—Louisiana, $1.2501.50 bu. Celery—Florida, ss® 5.50 crate. Cucumbers—lndiana hothouse. $1.50 doz. Eggplant—H. G., $2 doz. Kale—Spring, 65c bu. Leek—7sc bunch. Lettuce—California, $5- crate; hothouse, leaf, 75c 15 lbs. Mangoes—s2.so hamper. Mustard—Fancy, H. G., 65c bu. Onions —Home-grown, green, 35040 c doz.; new Texas yellow, $1.75 crate; Texas crystal wax. $1.90 crate. t Parsley—sl doz. bunches. Parsnips—Home-grown, $4.25 bu. Peas—Kentucky Telephone; $2.25®3 hamper. Peppers—Florida mangoes, $2.50®5 crate. Potatoes—Michigan, white. $2.75, 150 lbs.,; Minnesota Red River Ohios, $2, 120 lbs., Idaho, $3, 120 lbs.; Carolina Cobblers, $4.50 bbl.; Alabama Triumphs, $2.75 cwt. Radishes—Hothouse, button, 45c doz. bunches; southern long red, 30c doz. Rhubaria—Kome-grown, 35c doz. Spinach—Fancy Kentucky, 60c bu. Sweet Potatoes—Porto Ricans, $2.5002.75 hamper. Tomatoes—Repacked. $2.5045 2.75; 6basket crate; fancy, ss@6; Texas, $3#3.25, 30 lbs. Turnips—sl.sool.7s per hamper. MISCELLANEOUS Cider—4.sC 6-gal. case; $4.75 doz. halfgal, jars. Garlic—California, 25c lb.

Produce Markets

Butter (wholesale price) No. 1, 47®48c; No. 2, 45® 46c lb. Butterfat (buying price)—4sc lb. Cheese (wholesale selling prices, per pound)—American loaf, 34c; pimento loaf, 39c; Wisconsin flat, 30c; prime cream, 25®27c; flat daisy, 26®27c; Longhorn, 2674 ®2774c; New York limberger. 32c. Eggs—Buying pricest Fresh, delivered at Indianapolis, loss off. 23® 24c doz. Poultry (buying price)—Hens, 21®22c; lb.; Leghorn hens, 17®18c: 1928 spring, 1% to 1% lbs., 32c; 2 lbs. and up, 33@34c; Leghorns, 28© 29c; old roosters. 10c; ducks, 11c; geese. 8@10c; guineas, old 35c, young 60c. Bu United Press CLEVELAND. June 15.—Butter—Extras in tub lots. 48©48c; extra firsts. 42',4@ 4474 c: seconds. 387404074 c. Eggs—Extras. 34c; extra "rsts, 32c; firsts. 2902974 c; ordinary, 2v Poultry—Heavy broilers. 35 ®3Bc; Let vrns. 27®32c; heavy. 25®26c; medium, 25#26c; Leghorns, 17®19c; old roosters. 15# 16c; old ducks. 20®25c: geese. 15@17c. Potatoes—lso pound sacks round whites Michigan and Wisconsin. $2.50; 110-120-pound sacks Idaho Russet Burbanks. $2; South Carolina barrels slats. $3.15®3.25: staves. $3.3503.50. Births Girls Ludwig and Flora Burk. 1127 Lexington. Paul and Lillian Wheeler. 1618 Sturm. Charles and Olive Turner, 1127 Glmber. Russell and Veva Suhre, 2720 N. Olney. Boys Frank and Sallie Williamson, 2464 N. Harding. Fletcher and Clara Lyman, 1128 N. Illinois. James and Emma Wooten, 225 E. McCarty. ' Deaths George Hatfield. 76, Long Hospital, chronic nephritis. Infant Alltop, —, city hospital, atelectasis. John H. Grysell, 71, 433 W. Fourteenth, chronic interstitial nephritis. Ella Cook, 48, 336 Agnes, diabetes. Mattie Morton, 43, city hospital, acute cardiac dilatation. Julia Cilmer, 67, 1116 N. Delaware, myocarditis. Pearl E. Jarboe, 24. city hospital, accidental. Dora Pecock, 60. 316 E. North, carcinoma. David C. Boughman, 77. Central Indiana Hospital, arteriosclerosis. walte’ - 3. Benta, 22, 1643 Bellefontalne, pulmonary tuberculosis. Myrtle M. Davis, 36. 1419 Mill, chronic parenchymatous nephritis. Thomas W. Foley, 71, 4317 Park, chronic myocarditis. _ Mary Wilson, 80. 1716 N. Pennsylvania, hypostatic pneumonia. James Barrett, 65, Christian Hospital, lobar pneumonia. Valentine F. Czapski, 46, 1341 N. Alabama, diabetes meliitus. Gary Batts, 17, 1604 Columbia, acute myocarditis. Ruth Evans, 62. 2740 Eastern, influenza. Building Permits Charles Kikendall. dwe'iing and garage. 3701 W. Twelfth, $2,650. Mrs. C. E. O'Connor, oil burner, 5351 Carrollton, $475. Otto N. Frenzel Jr., oil burner, 236 E. Fifteenth, 8475. William H. Stafford, oil burner. 3522 Central. $475. Mrs. Zunk, foundation, 719 Haugh. SBOO. Stonlsch. storeroom, 702 Haugh. E. G. Bauer & Soil, apartment, 4509 E. •Washington, $28,000. George F. Wisman, garage, 5225 N. New Jersey. S3OO. Bell Waters, addition. 772 Edgemont, $727. Miss P. Moon, wreck building. 1402 N. Pennsylvania, S3OO. . Omar Baking Company, wreck building. 1547-49 Bellefontaine, S2OO. E. L. Andrews, dwelling and garage. 4920 E. Twelfth, $4,800. ’ E. L. Andrews, dwelling and garage, 4821 E. Twelfth, $4,800. Joseph Torrance, dwelling, 2346 N. Rural, $2,000. Tabernacle Presbyterian Church, gymnasium, northwest corner Thirty-Fourth and Central, $275,000. Albert E. Bergman, addition, 1606 Kelly, william Low Rice, dwelling and garage, 4527 N. Pennsylvania, $7,000. D. Maude Coomler, 2617 E. Washington, 120 ft

TOP HOGS SELL FOR $10.35 IN HIGHERMARKET Receipts Fall Off; Lights, Pigs Advance 20 Cents; Vealers Lower. June Bulk Top Receipts 8. 8.500 9.90 10.00 9.500 • 9. 8.50010.00 10.10 3,000 11. 8.75010.10 , 10.35 6,000 12. 8.75010.25 10.25 9,000 13. 8.75010.20 10.25 7,500 14. 8.75# 10.25 10.25 7.000 15. 8.75# 10.35 10.35 6.500 After selling at a top of $10.25 for four successive days, hogs advanced generally 10 to 20 cents today at the local stock yards, /he best material bringing $10.35. Receipts were slightly lower at 6,500 fresh animals and 416 holdovers. Material in the bulk weighing 170-300 pounds sold for $10.25 and higher. Cattle were steady; vealers lower, and sheep and lambs little changed Ihe supply was lighter throughout. The Chicago market was strong to 10 cents higher than Thursday's best prices. A few choice 190-200-pound weights brought slo® 10.10, and $10.15 was paid for one load. Receipts numbered 16,000. Packing Sows Steady Heavy butchers, 250-350 pounds, sold at slo.lo® 10.35 on the local market, having advanced evenly 10 cents. Material in the 200-250-pound class brought $10.15® 10.35, 10 cents higher on the top. Lights, 160-200 pounds, were up 10 to 15 cents, selling at $9.65® 10.25, and material weighing 130-160 pounds sold for $8.65®9.65, up 15 cents on the top. Pigs, 90® 130 pounds, brought $7.50®8.50, up a quarter. Packing sows were unchanged at $8.50®9.50. Cattle prices were steady, running in wider rangees than Thursday. Beef steers were $13.25®14.75, and cows, $8.50® 10. Low cutter and cutter cows went at $5.50 @7.50, while bulk stock and feeder steers brought $7.50 @9.50. There were about 450 head received. Vealers Lower Best vealers sold for sl3® 14, dropping 50 cents on the hundredweight. Heavy calves were unchanged at s7® 10.50. Receipts numbered 600. There was no change In the sheep and lamb division, which was supplied with 400 animals. The top stood at $15.50, and bulk fat lambs sold at $14@15. Bulk culls were [email protected], while fat ewes brought $6®7.50. —Hoars — Receipts, 6,500; market, higher. 250-350 lbs slo.lo® 10.35 2M-250 bs 10.15# 10.35 160-200 lbs 9.65010.25 130-160 lbs , 8.750 9.65 90-130 lbs 7.500 8.50 Packing sows 8.50® 9.50 —Cattle— Receipts, 4sb; market, steady. Beef steers $13.25® 14.75 Beef cows 8 50010.00 Low cutters and cutter cows.. 5.50® 7.50 Bulk stock and feeder steers.. 7.50® 9.50 —Calves— Receipts. 600; market, lower. Best vealers $13.00® 14.00 Heavy calves 7.00# 10.50 —Sheep— Receipts, 400; market, steady. Top fat lambs $15.50 Bulk fat lanbJ 14.0C® 75.00 Bulk cull lanbx 9.00® 11.50 Fat ewes 6.00# 7.50 - Other Livestock Bu United Press CHICAGO. June 15.—Hogs—Receipts. 18,000; market active, mostly 10020 c higher than Thursday's average; top, $10.20 paid for choice 200-260 lb. weights: butchers, medium tb choice. 250-350 lbs., $9.35010.20; 200-250 lbs., $9.35010.20; 160200 lbs., $8.75010.15; 130-160 Tbs., $7.75® 0.75; packing sows, $8.4009.35; pigs, medium to choice, 90-130 lbs, $708.65. Cattle—Receipts. 1.500. Calves—Receipts, 1,000; market, generally steady; best long yearlings, $14.50; no heavies here; discrimination against grassy cows and butcher heifers more pronounced; slaughter classes, steers, god and choice, 13001500 lbs., $13.40014.35; 1100-1300 lbs., $13.40 014.90; 950-1100 lbs., $13.50015; common and medium, 50 lbs., $10013.50; fed yearlings, good and choice. 7500850 lbs., $13.50 ®ls; heifers, good and choice, 50 lbs. down, $13.25014.75; common and medium, $9.75013.25; cows, good and choice, $9 25 #11.75; common and medium, $7.75# 9.25; low cutter and cutter, $6 0 7.75; bulls, goo dad choice, beef, $9010.25; cutter to medium ,[email protected]; vealers. milk fed. pood and choice. $11.50014; medium, $10.50 0)11.50: cull and common, s7® 10.50; Stocker and feeder steers, good and choice, all weights, $7.75013; common and medium. $9.25011.75. Sheep—Receipts. 5,000; better grade fat lambs, active; fully steady: demand good for limited supply, lower Grades little slow; light supply sheep and eeders, mostly unchanged; lambs, good and choice, 92 lbs. down, $15018.75; medium, $13.50®15; cull and common. $10.75®13.50; ewes, medium to choice, 150 lbs. down, s4# 7.25; cull and common, $1.75 0 5.50. Bu United. Press CLEVELAND. June 15.—Hogs—Receipts, 2,000: market, slow, steady, 10c up; 250350 lbs., 10.35010.40; 200-250 lbs.„ $10,350 10.40; 160-200 lbs., 10.25010.40; 130-160 lbs., $9010.35 ; 90-130 lbs.. $l5O 0 8.75; celpts. 1,000; calves, 250; market slow., steady: market, npnne; oeef cows, $7.75r> 10; low cutter and cutter cows, $5.75® 7.25; vealers, $13015.50. Sheep—Receipts, 500: market, slow nothing sold., steady; bulk fat lambs, $14015.50: bulk cull lambs, $11.50®13; bulk fat ewes, $4.50® 6.50. 'B.u United Press FT. WAYNE. Ind., June 15—Hogs—Receipts, 800; market, steady to 10 cents higher; 90-110 lbs., $7; 110-130 lbs., $7.75; 130-140 lbs., $8.65; 140-150 lbs., $8.80; 150160 lbs., $9 05: 170-200 lbs., $9.90; 200-250 lbs.. $10; 2SO-300 lbs.. $10.10: 300-350 lbs., $9.75: roughs, [email protected]: stags, $506. Cattle—Receipts. 125. Calves—Receipts, 100; market, $14.50 down. Sheep—Receipts, 2,200; market, spring lambs, $13.50 down. B,u United Press TOLEDO, June 15.—Hogs—Receipts. 400; market, 10c higher; heavies. $9.50010; mediums, $10010.25; Yorkers, *9.65010.25; good pigs, $8.50 09. Cattle—Receipts, light; market, stonrg. Calves--Receipts, light: market, slow. Sheep and lambs—Receipts, light; market, lower.

In the Stock Market

(By Thomson Sc McKinnon) NEW YORK, June 15.—We have had a severe break and we have had a decline In brokers loans and now this thought occurs to us and undoubtedly to many If It required what is equivalent to a panicky break to produce a decline in brokers loans of $135,000,000 what will happen if the loans must be further reduced? This is a question deserving the attention not only of the public, but of the men who are at the head of our financial system. The situation to us looks just as serious as it did a week ago and until we get some assurance fre.n the high places that all is well it will be best to take advantage of every strong period to continue to reduce commitments. COTTON OPENING Bu United Press NEW YORK, June 15.—Cotton future* opened steady. July 20.48, off .02; October 20.58, up 01; December 20.44, up .02; January 20.30, unclanged; March 20.26, up .oii May 20,23, ujft.os. -

THE INDIANAPOLIS TIMES

New York Stocks (By Thomson & McKinnon)

—June 15— Prev. Railroads— High. Low. Close, close. Atchison 188% ... 1897* 1897* Atl Coast Line 177% 176% 177 180 Balt & Ohio 108 ... 108 108 Canadian Pac ..203% ... 203 203V* Chesa & Ohio.. .185V* ... 184 Vi 18574 Chi & A1t0n.... 9% ... 9% 9% Chi & N West.. .. 81 Vs Chi .Ort West... 11% ... llVs 10% C R'l & P 112% Del & Hudson .190 ... 190 190 Del & Lacka.. .13474 134% 134% 134%' Erie 53% ... 53V* 53% Erie Ist pfd 52 Vs 51% 52 51 % Grt Nor pfd 99'% ... 99% .99% 111 Central 139% Lehigh Valiev 101V* Kan City 50... 47% ... 47% 46% Lou & Nash 148V* ... 148V* 150 MK & T 32% 32% 32% 32 Mo Pac pfd 114 112% 113 114% N Y Central ....175% ... 175 175 NY C & St L... 133 130'/a 133 129% NY NH &. H... 58% ... 57% 57% Nor Pacific 96% ... 96ft 96% Norfolk & West . . 180'i Pere Marquette 132% ... 132'% 133% Pennsylvania ... 64% ... 64% 64% P & W Va 138 ... 138 137 Reading ....... 102 ... 101 101% Southern Ry ...150% 150% 1507's 150% Southern Pac ..122 ... 121', 121% St Paul 32% ... 32% 33% St Paul pfd ... 43% ... 43 44 St L& S W ... 82% ... 81% 81% St L & S F ... .113 ... 113 113% Texas & Pac 133 Union Pacific 195 West Maryland. 38% ... 38 39% Wabash 75% ... 75% 76% Wabash pfd ... 98 ... 98 93 Rubbers— Ajax 8% ... 8% 8% Fisk IS% ... 13% 13'% Goodrich 78% ... 78 78% Goodyear 507, ... 50% 51 Kelly-Spgfld ... 18'% ... 18% 187* United States.. 40 ... 4040 Equipments— Am Car & Fdv. ~ ... ... 100 Am Locomotive 101% Am Steel Fd.. 54% ... 54% 54% Am B Shoe 42% ... 427, 42% General Electric 150 147% 119 15?'* Gen Ry Signal.. 90% ... 88 90% Lima Loco 54% 54% 54’, 54% N Y Ai rßrake 42% Pressed Stl Car 21 Pullman 83% ... 82', 83 West Air B 45% ... 45% 45% West Elec 96 ... 93% 95V* Steels— Bethlehem ..... 56% ... 55 56% Colo Fuel 67 87% 65% 67 V* Crucible 83% ... 83% 827* Gulf St Stl 61'% ... 61% 61 Inland Stl 54 ... 54 54 Phil RC Si 1.... 29 ... 28'% 28 Rep I & S 54 ... 54 54% Otis Steel 23% 23% 2274 227. U 8 Steel 140% 130'/* 138 V, 141 Alloy 34 s , 34 34 V, 33® Youngstwn Stl 85'* Vana Corp 77 75 76 777* Motors— Am B Mag 347, ... 34% 341,’, Chandler 1% 18 16 16% Chrysler Corp.. 70% 6i.'% 68% 78% Conti Motors.... 12% ... 12 12'* Dodge Bros 14 ... 3% 14 Gabriel Snbbrs.. 177* 17 17% 17 Gen Motors 182 178% 179 182% Hudson 837* ... 82% 84% Hupp 57% 55'% 56 57’* Jordan 11% Mack Trucks .. 93% ... 917* 94% Martin-Parry .. 19% ... 187* 18% Moon 8% ... 8 77. falge 32% 30'% 30% 317, Nash 92 ... 90 90% Packard 757% 73'% 73% 75% Peerless 19% ... 18% 197* Pierce Arrow ... 16',4 ... 15% 16 Studebaker Cor. 69% ... 69 70*4 Stew Warner ... 86% ... 86 84% Stromberg Cart.. 54% ... 5.1% 54 Timken Bear .131 . . 120% 121',4 Wlllys-Overland. 25% 25% 25% 2574 Yellow Coach ... 35% ... 347, 36 White Motor ... 3674 ... 36% 37 Mining— Am Smlt <k Rfg. 191 190 19! 1917, Anaconda Cop .. 67 ... 65% 87 s , Calumet & Artz. 97', 96'* 97 Cerro de Pasco.. 71% ' 174 71% 71 Chile Copper ... 42% ... 42 5 , 417% Greene Can Cop 104 ... 103% 102 Inspiration Cop. 21% ... 21*4 2174 Int Nickel 93'% ... 92’* 93'* Kenneeott Cop.. 88 s * ... 887* 887-, Magma Cop .... 50% ... 507, 4974 Miami Copper 197, Texas Gulf Sul. 1 *67 66'% 67 66'/* U SjSmelt 47% 477* 47%' 47 74 Atlantic Rfg ..1257; 125 125% 128V4 Freeport-Texas.. 68 68 68% 68% Houston 011 ...13274 131 132V* 1317, Indp Oil & Gas. 26 25'% 26 257, Marland Oii ... 35'% 35 35'% 35% Mid Cont Petrol 29 ... 28% ... Lago OH & Tr 32 Pan-Am Pet B. 43’% 43% 43’. 43’% Phillips Petrol.. 387, 38 38', 38V* Pro <fc Rfgrs 227% Unioft of Cal.. 49% ... 49% 49 V* Pure OU 22% 22% 22% 227, Shell 26’,, 267, 26’, 26% Simms Petrol .. 21% 20% 21% 207* Sinclair Oil ... 237, 23 23', 23V,. Skelly Oil 23% ... 28% 287% Std OU Cal .... 57% 55 57% 57 Std Oil N J ... 44% 43% 44% 43% Std OU NY... 357* 33 s , 33% 347* Texas Corp ... 59% 59% 597% 59V, Transcontl .... 774 ... 7'% 7% White Eagle 22'% Industrial,— Adv Rumely ... 417% ... 38 41 Allis Chalmers 118 Allied Chemical.l72’, ... J6BV4 1727* Armour A .... 18'% ... 1774 18V* Amer Can .... 86% 83V' 84 867, Amer H L pfd.. 46 ... 4474 727, Am Linseed ....114’% 110% 111 111% Am Safety Rae 62 ... 6174 62 Amer Ice 377* ... 387%' 37% Am Woolen .... 20 ... 20% 20% Curtis 107% 101'/, 101 >4 105 Cent Leather ..107% 101V* 101 Vi 105 Coca Cola 160 ... 160 158% Conti Can .... 98 ... 97 99% Certainteed 48'% Congoleum .... 24 ... 23'% 24 Davison Chem .. 45 74 44 74 4 5 47% Dupont 375 ... 373 376 Famous Players 126% 1257% 125% 126 Gen Aephalt ... 74% ... 7373 Int Bus Mch....111) ... 119 11874 Int Cm Engr.... 58’4 56% 56% 587* Int Paper 737* 71 72 7, 74 Int Harvester ..264% ... 262'% 265% Lambert 105% ... 104% 104'% Loews 69% ... 687* 687* Kelvlnator 15V* ... 197* 15 Montgom Ward 145 14174 142 145 Natl C R 6274 ... 60% 6174 Pittsburgh Coal 407* ... 40% ... Owens Bottle .. 807, ... 80V* 82 Radio Corp 180 173'% 174 17874 Real Silk 27% ... 27'% 27 Rem Rand 29 ... 287* 29% Sears-Roebuck ..105 10274 103 104% Union Carbide.. 4467* 148 146 145 Unlv Pipe 187* ... I*% 18 U S Cs Ir Pipe 247 U 8 Leather.... 43 ... 4174 42 U 8 Indus Alco.. 1087* ... 1087* 1087% Wright 155 ... 150 157', Woolworth C0...1027% 101% 102 104 Utilities— Am T & T 180'% ... 1807% 181% Am Express 185 ... 185 189 Am Wat Wks... 58 ... 5774 587* Brklyn-Manh T. . 82% ... 617* 62% Col O & E 107% 107 107'% 108 Consol Gas ....148% 147% 148 14674 Elea Pk Lt 37% ... 36'% 3774 Interbor-' 37'% ... 37% 38 Nor Am Cos 70 ... 70 70% Nat Power 35’% ... 35'4 35% Pub Bve N J .... 8574 .. 54'% 55% 4#, 47 ’ 4s Std Gas 62 El ... 66 ... 65 66 Utilities Power.. 39 . 3774 38% West_ Union Tel. .. . ... 14574 Shipping— ’ Am Inti Corp. 102% 96% 9674 101 Am Ship & Com 474 Atl Gulf & WI. 51'% ... 51 51’% Inti Mer M pfd. 38 ... 36 74 36% United Fruit ... 137 Foods— Am Sug Rfg .... 7174 ... 71% 71% Am Beet Sugar.. 16*% ... 167, ... Austin Nichols 674 Beechnut Pkg ... 73 California Pkg .. 72% ... 72% 72% Com Products ..71% ... 71V* 71V* Cuba Cane Su p 25 . 25 25 Cuban Am Sug.. 20% ... 20 19% Fleischmann Cos 6874 ... 88 69 Jewel Tea 106% 103*/* 104 103 Jones Bros Tea. .. 29 Natl Biscuit ...167 ... 165% 167% Natl Dairy .... 78% ... 77'% 78% Postum Cos 126*/, 124 124% 125V* Ward Baking B. 20% ... 197% 20 Tobaccos— Am Sumatra... 54 ... 53% 54 Am Tobacco r. .. ... ... 15474 Am Tob B .... 154'% ... 154% 155 Con Cigars .... 88 ... 88 90% General Cigar.. 62% 62% 627% 63 Lig & Myers.. 90% 90% 90% 9074 Lorillard 277% ... 27 277, R J Reynolds 131 V, Tob Products B 103V* ... 10274 103% United Cigar St. 2fl'% ... 26% 26 Schulte Ret Strs 577s ... 58 88% KAISER CELEBRATES Observes Fortieth Anniversary of Ascension to Throne. Bji United Press DOORN, Holland, June 15.—Former Kaiser Wilhelm today quietly celebrated the fortieth anniversary of his ascension to the throne of the German empire. Servants at his exile home, Doom House, were given a holiday. The old imperial flag was hoisted over the mansion and the former kaiser led his househol din special prayers. Princess Hermine, whom the former kaiser married after his abdication and the death of his first wife, arrived last night from Germany to join in the observance. The former ftrown prince arrived today. Our finger nails grow at the rate of about an inch and a half a year. A man aged 70 has grown nearly nine feet of nail on each finger, or .ninety feet altogether ■Kkfe'

BULLISH TREND IN WHEAT PIT RAISKPRICES General Feeling at Chicago Is for Higher Levels; Other Grains Up. B\j United Press CHICAGO, June 15.—A general feeling that wheat has gone as low as necessary for the present, sent prices slightly higher at the opening on the Board of Trade today. Corn was irregular while oats followed wheat’s upturn. Wheat opened % to %c higher; corn ranged from 14 c off to 7s c advance, and oats was up Vsc. Provisions were higher. The feeling in wheat has improved since Thursday's late rally but crop news continues bearish in tone. There was no change in the favorable weather over the belt except in Kansas where there was scattered showers and hail. Liverpool failed to respond fully to the advance here. Corn, following recent liquidation is in a good technical position. The cash situation remains strong, with supplies of the old stock di-

$450,000 L. S. Ayres and Company (Incorporated under the laws of the State of Indiana, 6% Cumulative Preferred Stock - DIVIDENDS PAYABLE QUARTERLY Exempt under present laws from State and Local Taxes in Indiana and from normal Federal Income Tax Dated, February 1, 1928. ‘ Par value of shares, SIOO each. LEGALITY AND REGULARITY APPROVED BY MR. SAMUEL ASHBY AND MESSRS. SMITH, REMSTER, HORNBROOK AND SMITH THE INDIANA TRUST COMPANY, REGISTRAR The above offering is the unsold balance of $900,000 of said stock purchased of L. S. Ayres & Company by The Indiana Trust Company, SIOO,OOO of which by agreement, has been subscribed by and allotted to the employes of L. S. Ayres & Company, at the price named below. The following is from information furnished by Mr. F. M. Ayres, president of the company: STATEMENT—as at January 31, 1928, without giving effect to the sale of $900,000 Preferred Stock, thereby adding over $900,000 cash to total of current assets: ASSETS * . LIABILITIES Current $2,880,751 Current $ 854,092 Other Assets 443,933 Long-Term Indebtedness 156,018 Deferred Charges ...... 78,885 10 ' 384 Permanent, less deprecia- mon $900,000 tion 678,'825 Preferred .. 600,000 1,500,000 Surplus 1,561,900 , \ $4,082,394 • $4,082,394 SALES AND PROFITS—the sales of the company have more than kept abreast with the growth of Indianapolis. The average net profits, after all charges except _ Federal Income Taxes, for the thret years end ; ng January 31, 1927, were more than five times the amount which would be required to pay the dividend on the $1,500,000 Preferred Stock. For the year ending January 31, 1928, the net profits, after J 1 charges except Federal Income Taxes amounted to more than six times the dividend requirement on the said Preferred Stock. CAPITALI2 ATION—as at February 1, 1928, after giving effect to the issuance and sale of the additional $900,000 Preferred Stock and converting $600,000 of accumulated surplus and undivided profits ($1,561,909) into Common Stock: COMMON CAPITAL STOCK $1,500,000 PREFERRED CAPITAL STOCK 1,500,000 SURPLUS 961,900 OWNERSHIP—NearIy all of the $1,500,000 Common Stock and $600,000 of the $1,500,000 Preferred Stock is owned by the Ayres family and they and the owners of the comparatively small balance of* said $600,000 Preferred Stock have agreed not to offer any of their Preferred Stock for sale for at least two years. REDEMPTION OF PREFERRED STOCK—The company must redeem or acquire all shares of Preferred Stock issued and outstanding February Ist, 1971, at par plus accrued and unpaid dividends and reserves the right, at its option, to redeem or acquire at any time after February Ist, 1933, and before February Ist, 1971, by paying $lO5 per share plus accrued and unpaid dividends therfeon, with 6 per cent, per annum from the last dividend paying date to the date of redemption all or any number of shares of stock included in any certificate issued, by giving not less than thirty days written notice to the holder of such certificates, and Preferred Stock redeemed or acquired shall be cancelled and not re-issued. IMPORTANT PROVISIONS—The holders of the Preferred Stock shall be entitled to receive preferential cumulative 6% per annum dividends, payable out of the surplus or net Profits in equal quarterly installments, sucH dividends to be paid before any dividend whatever shall be declared, set apart or paid on the Common Stock. Dividends on Preferred Stock shall be cumulat'' \ Dividends may be declared and paid upon the Common Stock, provided that all dividend.* upon the Preferred Stock accrued to date of the declaration of the dividends upon the Common Stock have been declared and paid, or the same shall have been declared and a sum sufficient for the payment thereof shall remain in the surplus or net profits of the company, but not otherwise. . (1) The company shall have the right to increase its Common Capital Stock and increase its Preferred Capital Stock as provided by law without notioe to or consent of the holders of the Preferred Capital Stock and any second or subsequent issue of I referred Stock shall have the same rights as to sharing in the profits and assets oi the company as the present Preferred Stock has, provided that any subsequent issue of its Preferred Stock shall be sold for cash at not less than par, and shall be upon the same terms and conditions as are contained in the certificates of its present issue of Preferred Stock. (2) So long as any of the Preferred Stock of the company is outstanding and unredeemed, the company shall not sell, convey or mortgage any portion of its real estate except by and with the written consent of the holders of at least 75% in amount of the outstanding Preferred Stock. Certficates of Stock will be ready for delivery on and after July Ist, when payment is, to be made. , PRICE: 105 and Accrued Dividends THE The Indiana Trust Cos. Merchants National Bank INDIANAPOLIS INDIANAPOLIS Indiana Securities Commission Mton® SeeuWtiM Commi ssion_ Registration Certificate No. ill Registration Certificate No. 217 The above statements are not guaranteed but are based on information which we believe to be true. m

minishing, but new crop prospects offset this. Liquidation in old oats continues but is near an end. Crop news overnight was favorable. Chicago Grain Table —June 15WHEAT— Prev. High. Low. 12:00 close. July 1.3974 1.37% 1.38% 1.39*4 September ... 1.4 174 1.39% 1.40% 1.41 December . 1.47% 1.42*4 1.43 1.437* CORN— July 1.01 % 1.00% 1.01 *l.Ol September ... .99% .98% .99% .99% December 8674 .86 .86% .8674 OATS— July 5374 .5274 .52% .53% September ... .46 .45% .45% .45% December ... .47% .47% .4774 .47% RYE— July 1.24 .... 1.23% 1.24 September 120 .... 1.18% 1.1974 December ..1 1.1972 1.1874 1.1874 1.1974 LARD— ♦ July 11.60 11.60 11.55 September. 11.95 11.92 11.90 October .... 12.10 12.05 12.10 12.07 December 12.15 12.15 12.12 RIBS— July 12.12 September. 12.42 Bjt United Press CHICAGO, June 15.—Carlots: Wheat, 9; corn, 110; oats, 27; rye, 1. CONSIDER RAIL SWITCH Officials Confer on Permit for Spur to City and I. U. Hospitals. City officials conferred with Ir,diana University authorities this afternoon on a proposed railroad switch to serve city hospital and the group of Indiana University hospitals. It is proposed to build a spur from the Big Four at W. New York St. to the hospital group. It is believed the hospitals can save thousands of dollars a year in drayage.

Offical ‘Maid’

y-. \

Miss Irma Diebel of Reno, Nev., is often a bridesmaid, but never has been a bride. The reason is that she is stenographer to one of the busy justices of the peace in Reno and stands up for about four couples every day. They call her Reno’s “official bridesmaid.” SUGAR OPENING I'U United Press NEW YORK, June 15. Sugar futures opened higher. July 2.52. up .02; September 2.64, up .02; December 2.73, up .02; January 2 70, up .02; March 2.65, up .02; May 2.72, up .03. /

PAGE 33

FEARS ’SPIRITS’; SLAYS SISTER Carving Knife, Gas Pipe Used in Killing. Bu United Press NEW YORK, June 15—Thomas A. Leach, 45, confessed today that he beat his sister, Emma, to death with a gas pipe "to save her from the spirits whio have been hanging around our house.” Leach, who recently was discharged from a sanitarium, welcomed police when they arrived at the Brooklyn house and asked them to “help me wake up my sister, asleep for a long time.” Miss Leach's body was found in one of the bedrooms. A bloodstained warving knife and the gas pipe were on the floor. “She came home Wednesday night,” Leach said, “and read for a while. I went to bed, but. the spirits, would not let me sleep. They kept running around the room, so I got up to keep them from bothering Emma. The only way I could save her was to hit her with the gas pipe and stab her.” Leach was held on a homicide charge and probably will be sent to an asylum immediately.