Indianapolis Times, Volume 40, Number 48, Indianapolis, Marion County, 6 July 1928 — Page 22

PAGE 24

PRICES DECLINE IN STOCK LIST; RECOVERLATER Brokerage Loan Increase Brings Heavy Selling at Opening.

Average Stock Prices

Average of twenty industrials Thursday was 214.43. up 2.53. Average of twenty rails wis 139.48, up 1.03. Average of forty bonds was 97.28, up .09B>) United Press NEW YORK, July 6.—The substantial Increase in brokerage loans reported at the close of the market Thursday brought considerable selling into the market today and opening prices in the speculative leaders were generally slightly lower. Heavy buying, however, appeared on the recession and prices quickly recovered to around their previous closing levels. After opening at 190 Vs, General Motors rose to 192, while United States Steel climbed to 138% from an Initial price of 13814. Similar recoveries were scored proportionately in other leaders. Heavy buying appeared in Montgomery Ward and Sears Roebuck, both issues selling around their best levels of the year, while International Nickel, Victor Talking Machine and Missouri-Kansas-Texas sold at new highs on the movement. Special issues like Radio, Wright Aero and Texas & Pacific continued in favor, all making substantial recoveries from their early lows, while investment buying was again noted in many standard issues like Packard and New York Central. Goodrich Leads Rubbers Rubber continued the improvement started in the previous session under the leadership of Goodrich. Describing the market, the Wall Street Journal’s financial review today said: "Stocks were thrown on the market in the early dealings, owing to the nervousness created by the unexpected large increase of $147,812,000 in brokerage loans in the week ended July 3 and unfavorable showing of the, weekly Reserve statements. “Rediscounts increased $159,136,000, demonstrating the extent to which member banks were forced to borrow from regional institutions to take care of mid-year payments. An additional $36,000,000 in gold was lost, bringing the reserve ratio of the whole system down to 65.4 per cent, against 68.7 per cent a week ago and 76.8 per cent a year ago. “This poor comparison influenced substantial declines in the principal trading stocks.” Trading Turns Dull Trading turned dull around noon following attempts to start fresh liquidation in the speculative leaders. Offerings, however, were wellabsorbed on the recession and no further declines from the morning lows were made by principal trading stocks. Missouri-Kansas-Texas continued to feature the low-priced rails, run- | ning up nearly 2 points to anew high on the movement at 57 Vs, while Kansas City Southern and Texas & Pacific were in demand around their best levels. Standard rail and industrial leaders like General Electric, Northern Pacific and National Biscuit continued in good demand.

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were $4,923,000. Debits were $9,766,000. TREASURY STATEMENT B WASHINGTON, July 6.—The Treasury net balance for July 3 was $252,189,616.69. Customs receipts this month to July 3 were $3,021,002.92. FOREIGN EXCHANGE Bu United Press NEW YORK, July 6.—-Foreign exchange opened irregular. Demand sterling $4.86 3 /i, up .00 1-16; francs 3.92 c, up .OOVi; lira 5.34 5 /ic, off ,00'/ a ; Belga 13.94V4C, off .01; marks, 23.86'/2C. LIBERTY BONDS Bn United Press NEW YORK. July 6.—Liberty 3 Vis opened at 100.4; 3d 414s 100.24, off 8; 4th 4Vis 101.25; treasury 3%s 100.16, off 7.

In the Stock Market

(By Thomson & McKinnon) NEW YORK, July 6.—The substantial rise in broker’s loans, accompanied by a further increase in rediscount by Federal Reserve members Is surprising to many. Explanation of the loan increase may be found in an examination of events transpiring during the period in which the figures are computed. There occurred a speedily advancing market during a period of credit stringency and probably the purchasing of much stock by investors who will now be in position to complete paylnent because of interest and diviident receipts. Insofar as the higher discounts are concerned, this may be viewed In the light of the banking institutions taking advantage of profit making opportunities because of the spread between the rediscount and open market rate for money. However, disregarding for the moment the causes of both conditions the fact remains that the credit situation is easier and we do not believe that any important price recessions is necessary.

In the Cotton Market

(By Thomson & McKinnon) NEW YORK, July 6.—The market has its normal ups and downs, but the trade is a buyer on balance every day. To replace the cotton sold by outside Interests recently would establish new high prices. We would not be surprised to see this occur. Bn United Press NEW YORK. July 6—Cotton futures opened higher. October. 22.65, up .22; December. 22.50, up .23; January, 22.32, up a; March. JJ.I6, up .31; May 22.03, up 21; July, 2>.50. up .24. SUGAR OPENING By United Press RSW YORK. July 6.—Sugar futures opened firm. September. 2.56; March, 2.60; May, 9.67; all unchanged. '

New York Stocks

(By Thomson & McKinnon)

—July 6 Railroads— Prev. High. Low. 12:00 close. Atchison 188 Vis ... 187% 189% Atl Coast Line.. 169 ... 169 169 Balt &, Ohio 109 *4 108% 109 109 Canadian Pac ..207 ... 206% 207% Chesa & Ohio 1847s Chi & Alton... 11% 11 11% 11% Chi & N West.. 8311 ... 82% 83Vs Chi Grt West... 11% ... 11% 11 Vs C RI & P 115 ... 115 115% Del & Hudson.. 190’/. ... 190% 191 Del & Lacka - 136% Erie 55 53% 55 54 V* Erie Ist pfd ... 54% ... 54% 54% Grt Nor pfd... 99% 97% 99% 98'% 111 Central 137% ... 137% 137 Lehigh Valley 102 % Kan City South 51% 49 51 49 Vi Lou & Nash 145 MK & T 37% 38Vi 37% 36% Mo Pac pfd ....118% 118 Vs 118% 118% N Y Central 172 171 172 172% N Y C & St L.. 132 ... 132 132 NYN H & H.. 59 58% 58% 58% Nor Pacific 97% 96% 99% 96% Norfolk & West .. ... ... 177% Pere Marquette 131 Pennsylvania ... 65% ... 54% 65% P <fc W Va 144 Reading 102% 101 102% 102% Southern Ry ...149% ... 149% 149% Southern Pac ...122% 122 122% 122% St Paul 35% 34% 35% 35 St Paul pfd .... 47 45% 46% 46% St L& S W 86% 85 % 96% 86 St L & S F *. ... ... 114 Texas & Pac ...172 169% 172 172% Union Pacific.. .195 194% 195 195 West Maryland. 41% • 40% 41% 41% Wabash 75% 73 75 74% Rubbers— Ajax 8 ... 8 8 PiSk 12 11% 12 12 Goodrich 76'% 74% "6% 74% Goodyear 48% 48% 48% 48% Kelly-Spgfld ... 20% 19% 19% 19% Lee 19 ... 19 19 V, United States .. 29% 28% 29% 29% Equipment— , Am Car & Fdy 97% Am Locomotive 99'% ... 99 993, Am Steel Pd ... 54% ... 53% 53% Am B Shoe 41 ... 41 41 General Elec ...154% 153'% 154 155% Gen Ry Signal.. 95% ... 95'% 95% Lima Loco ...... 50* \ ... 5u 51 N Y Air Brake.. 43% ... 43% 431% Pressed Stl Car. 21% ... 21% 22% Pullman 83% 83 83% 83% Westingh Airb.. 45 .. 45 ' 451* Westingh Elec.. 95% 94% 95 95% Steels— Bethlehem ...... 55% 55% 55% 56% Colorado Fuel.. 62% ... 62% 63 Crucible 70 ... 70 71% Gulf States Stl ll{* Inland Steel | 22,* Phil RC& I. 30% 30% 30% 30% Rep Iron & Stl.. 52% ... 52% 53% fteej 23 22% 23 23 US Steel 139'% 138% 139 139% Youngstwn Stl 86 Vanadium Corp.. 76% 76 76 76% Motors— Am Bosch Mag.. 34% 33% 34>4 3*% Chandler V e i ■„ Chrysler Corp .. 75% 7414 '73% 741“ Conti Motors .. 12 ... 12 12% Dodge Bros 14% ... 1434 1 Gabriel Snbbrs .. 19% ... 1934 jot? General Motors. 193 Vi 190% 192% 193 Hudson 83% 83% 83% 85 Hupp 58% 58 58% 59 J° rd ,an 11 10% 11 10% Mack Trucks ... 94% 94% 94% 945-! Martln-Parrv .. .. . * a4 ' 4 19'* Moon 7% ... ’ 7?i 77. Pa'ee 33% ... 33% 34 Hash 88% 88 88', 88% Packard 75% 76% 77% 78% Peerless 17% ... 17% 17 Pierce Arrow ... 13% ... 131/. 1334 Studebaker Cor. 70% 69% 70% 70% Stew Warner .. 92% ... 92 91% Strombere Cart 5374 Timken Bear ...122 ... 122 1227a Willys-Overland 22% ... 22% 22% Yellow Coach .. 34% ... 33% 34% White Motor .... 40% ... 39% 40% Mining— Am Smlt & Rfg.19374 193 193 195 Anaconda Cop .. 69 68% 68% 68% Calumet & Ariz. 99% ... 99 99% Cerro de Pasco. 78 77% 78 78% Chile Copper ... 46% 44 44% 46% Greene Can Cop.loß7a 106 108% 108% Inspiration Cop. 22% ... 22'% 22"a Int Nickel 97% 95% 97 9674 Kennecott Cop. 91% 91 91 % 92 Magma Cop 52% Miami Copper. 20% ... 20% 20% Texas Gulf Sul.. 71% 69% 70'% 7174 U S Smelt 47'/a ... 47 48 Oils— Atlantic Rfg ~.1396 137 138 139% Cal Petrol 30 ... 30 30 Freeport-Texas.. 737s 72% 73 72% Houston Oil 140 ... 136 141% Indp Oil & Gas 24% Marland Oil 35% Mid-Cont Petrol 28% Lago Oil & Tr.. 32 ... 32 31 Pan-Am Pet 8.. 42% 42% 4274 43 Phillips Petrol.. 37% ... 37% 37% Pro & Rfgrs... 26 ... 2574 26 Union of Cal... 51 ... 50% 5174 Pure Oil 2274 ... 22% 22% Royal Dutch ... 56 ... 5574 55% Shell 27% ... 277s 27 Simms Petrol ... 21 Sinclair Oil ... 23% 2374 23% 24 Skelly Oil 2974 ... 29% 2974 Std Oil Cal 59 ... 58% 58% Std Oil N J 44% 4474 44% 4474 Std Oil N Y.... 35 ... 34% 35% Texas Corp .... 61 60% 61 61 % Transcontl B*4 8 74 B'4 BV4 Industrials— Adv Rumeiy .... 45 44 4474 4574 Allis Chalmers.. 124 ... 124 124% Allied Chemical. 173 ... 172% 1737a Armour A 19% ... 19% 19% Amer Can 88% ... cS 89% Am Hide Lea.. .. ... ... 11 Am H L pfd.... .. ... ... 4374 Am Linseed .... 11074 10974 110% 111 Am Safety Raz 6274 Amer Ice 39 7% Amer Woolen .. 1874 ... 1874 187 3 Curtis 112% 106 109 10874 Coca Cola 166% ... 166% 167% Conti Can 10074 ... 100 10174 Certainteed 43% Congoleum 23% ... 23% 24 Davison Chem.. 4774 47 47 47% Dupont 382 381 382 385 Famous Players 12874 ... W 8 129 Gen Asphalt ... 75% 7574 75% 7674 Int Bus Mch 124 Int Cm Engr 6174 60% 61 61% Int Paper 74% ... 74 74% Int Harvester ..272 27174 272 2737, Lambert 109% ... 108% 10974 Loews 55% 5574 5574 5574 Kelvinator 1674 ... 16 1674 Montgom Ward 15874 15774 158 15674 Natl C R 62% 62 62% 62% Pittsburgh Coal. 55 4974 53% 507a Owens Bottle .. 80 ... 80 79% Radio Corp ....189 18574 18574 190 Real Silk 2774 Rem Rand 30 ... 29% 30 Sears-Roebuck ..11474 11374 114 11474 Union Carbide ..152 74 151 152 152 Uni Pipe 18 U S Cs Ir Pipe.. .. 245% U S Leather .... 44 43% 44 ' 44 U S Indus Alco.lll ... 11l 112 Wright 164% 157 161 160% Woolworth Cos 183% Utilities— Am Tel & Tel ..177% 17674 177 1 77% Am Wat Wks 59% Brklyn-Manh T 65% Cos G& E 11174 110% 111 111'/, Consol Gas 153 152 152 153'% Elec Pow & Lt. 36 ... 36 36% Jnterboro 40 ... 40 50% Nor Am Cos 73 . . 7274 73'% Nat Power 35 3474 35 35 ‘ Pub Svc N J ... 5674 56',2 5674 5 7 S Cal E 44% ... 47'% 47% Std Gas &El .. 66% ... 66% 66% Utilities Power . 38% 38% 38% 38% West Union Tel. .. ... 146':. Shipping— 2 Am Inti C0rp...10174 100% 10174 102% Am Ship & Com 4% Atl Gulf &WI. 51 50% 50% 52% Int! Mer M pfd 371% United Fruit ...135% ... 13574 13574 Foods— Am Sug Rfg ... 7274 72 72% 72'% Am Beet Sugar.. 1574 ... 1574 . California Pkg .. 7374 72 73 72% Corn Products.. 72'4 ... 72% 72% Cuba Cane Su p 21% 21 21 20% Cuban Am Sug.. 19% ... 19% 20" Fleisehmann Cos 69 74 6874 69 68 74 Jewel Tea 106 Jones Bros Tea ... ... 30 Natl Biscuit 167 16574 167 166 Nat Dairy 79 ... 78% 79c:, Postum Cos 131% 131 131% 132':; Ward Baking B 19 ... 19 19 " Tobaccos— Am Sumatra .... ... ... 61 Am Tobacco .. .. ... ... 156 Am Tob B 156 ... 156 156 Con Cigars 88% ... 8874 89% General Cigar 64 Lig & Meyers 8474 Lorillard 26 ... 26 26'4 R J Reynolds 13031, Tob Products B. 10474 104 104 105% United Cigar St 2674 ... 2674 26'/ 4 Schulte Ret Strs 56 ... 56 64% Building Permits Frank Wooling, dwelling and garage 3060-62 Brookside par twav, $3,200. o n ?l a l H, k _Wopllng. dwelling and garage. 3052-54 Brookside parkwav. $3,200. A- H - Wilson, garage. 1264 N. Sheffield. 5364. C. C. Dunn, furnace. 2725 W. Washington. S2OO. A. V. Stackhouse, elevator. Washington and New Jersey, $3,400. A. V. Stackhouse, elevator, Washington and New Jersey, $3,400. Moynahan Apartments, dumb waiter Thirty-Eighth and Meridian. $1,350. West Baking Company, elevator. 1331 E. Washington. $3,440. Bethard Paper Company, elevator. 415 Massachusetts. $2,700. De I i l aware ßh s4 i 3oo traentS ’ elevator - 1434 N - Dartmouth’ Apartments, elevator. 229 E. Michigan. $3,600. Darmouth Apartments, elevator. 229 E. Michigan, $4,370. William F. Roepke, alterations. 2307 E. Washington. $2,000. Garner Gregory, basement. 3962 Spann. S3OO. Russell Ware, dwelling and garage, 6331 Broadway. $5,000. W. M. Karstedt, storeroom, 1100 Hanna, $3,500 Claypool Hotel, partition, Illinois and Washington. S4OO. Puritan Finance Company, dwelling and garage. 718 Rochester. $2,150. T. S. Curl, garage. 325 Beauty, $250. H. A. Palmer, garage. 1912 W. Michigan. $255. . H. A. Kass. garage, 3901 Carrollton. $256. M. G. Rengarner, garage. 1838 Orleans. $250. R- Notwest, dwelling. 447 S. Arlington. $2,500.

VEALERS HIGHER WHILE REST OF YARDJSSTEADY Hogs Virtually Unchanged Though Part of Load Brings $ll.BO. June Bulk Top Receipts 29. 9.25® 10.85 10.90 6,000 30. 9.50® 11.25 11.25 3.000 July 2. [email protected] 11.25 8.000 3. [email protected] 11.75 5.500 5. 9.75® 11.75 11.75 7.500 6. [email protected] 11.80 7,500 Part of a load of choice hoes sold for $ll.BO, 5 cents higher than the previous top while the rest of the porker division remained unchange ! at the local yards today. Receipts numbered about 7,500 and there were 340 holdovers. There were few steers here in the cattle market which was little changed. Vealers were up 50 cents and sheep and lambs held steady. The Chicago market moved fairly active to traders and shippers, with several loads of choice 180-270-pound weights going at $11.50^11.60 or strong with Thursday’s bestprices. Receipts were estimated at 18,000. Few Hogs Bring $ll.BO The top was $ll.BO, paid for a fewheavy butchers in the 250-350-pound class, the rest of which sold for $11.50 uupward. Material in the 200-250-pound class narrowed considerably on the low end and the price was $11.65® 11.75. Other animals were unchanged, quotations ranging as follows: 160-200 pounds, 10.75; 90-130 pounds, sß'' < ; 9.25. and: packing sows, $9.25@ 10.25. Beef steers were scarce, quoted at sl3® 15.50. Cows sold at $8.50® | 10.50, about 50 cents lower on the top. Other cattle were steady. Low j cutter and cutter cows brought $5.50 j @7.50, and bulk stock and feeder steers, $8 @l2. There were about 600 head received. Vealers Take Increase Best vealers sold for $15.50@ 16.50. up 50 cents throughout. Heavy calves were unchanged, selling at [email protected]. Receipts numbered 900. Sheep and lambs were steady with the top standing at $15.50. Bulk fat lambs were priced at $14.50® 15.50, and bulk culls brought $9.50 @l2. Bulk fat ewes were $5 @7. Approximately 1.100 animals were brought to the yards. —Hogs— Rapeipts. 7,500; market, steady to strong 250-350 lbs $11.50® 11.80 200-250 lbs 11.650111.75 160-200 lbs [email protected] 130-160 lbs 9.750i 10.75 90-130 lbs B.oo® 9.25 Packing sows 9.25® 10.25 -CattleReceipts, 600; market, steady to weak. Beef sters $13,000)15.50 Beef cows 8.500i 10.50 Low cutters and cutter cows.. 5.500; 7.50 Bulk stock and feeder steers . B.OO'S 12.00 —Calves— Receipts. 900; market, steady to higher. Best vealers $15.500i 16.50 Heavy Calves [email protected] —SheepReceipts, 1,100; market, steady. Top fat lambs $15.50 Bulk fat iambs 14.500) 15.50 Buiy cull lambs [email protected] Fat’ ewes 5.00@ 7.00 Other Livestock Bn United Press CHICAGO. July 6.—Hogs-—Receipts. 18,000; market, opened strong to 10c higher; later trade slow, mostly steady; packing sows. 100i 15c higher than Thursday's average- top. $11.00; butevhers. medium to choice. 250-350 lbs.. $10.40® 11.55; 200250 lbs.. $10,507)11.60; 160-200 lbs.. slo@ 11.60; 130-160 lbs., [email protected]; packing sows. $9,107/10.40: pigs, medium to choice, 90-130 lbs.. $8,507)10.35. Cattle —Receipts, 7,500; calves, 1,000: market. generally steady; trade chiefly In grain fed steers and yearlings; grassy kind slow; yearlings, scarce; light steers, $15.75; medium weights up to $15.85: slaughter classes, steers, good and choice, 1300-1500 lbs., $14,757/ 16: 1100-1300 lbs.. $14,757/ 16; 9501100 lbs., $14,757/ 16; common and medium. 650 lbs.. $107) 14.75; fed yearlings, good and choice. 750-950 lbs.. $14.507/16; heifers. good and choice, 50 lbs. down, $14.25 7/15.75; common and medium. $9.5077: 14.25; cows, good and choice. $9,257) 12; common ad medium. $7,257/9.25; low cutter and cutter. $5,757)7.25: bulls, good and choice, bes. $9,107/ 10.75; cutter to medium. 57.257/8.90; vealers. milk fed. good and choice, $14,257/ 16.50; medium, $137/14.2,5; cull and common. SB7/12; stocker and feeder steers, good and choice, all weights. $11.75(3:13; common and medium. $9,257) 11.75. Sheep—Receipts, 8,000; fat lambs, active; mostly 25c higher; sheep, steady: feeding lambs, dull: lambs, good and choice. 92 lbs. down. sl6@> 17: medium, $14.25@16; cull ad common. $11,257) 14.25; ewes, medium to choice. 150 lbs. down, $47);7; cull and common. $1.75 @5.25: feeder lambs, good and choice, $12.75(3-13.50. Bn United Pern* CINCINNATI. July 6.—Hogs—Receipts, 4.200; holdovers. 1,140; market steady to 25c up: 250-350 lbs., $11.507)>12: 200-250'1b5.. $11,757/12: 160-200 lbs., sll7/12: 130-160 lbs.. [email protected]: 90-130 lbs.. $7.75(310packing sows. $8,507/9.50. Cattle Receipts. 200; calves, receipts. 350; market, veals $1 or more higher; beef steers. $127/ 14.50: light yearling steers and heifers. sl2 7)15: beef cows. SB7/10; low cutter and cutter cows, $5,257/7; vealers $12@16heavy calves. $lO7/14; bulk stock and feeder steers. $10.507711.50. Sheep—Receipts. 1,450; market, choice lambs strong; top fat lambs, sl6; bulk fat lambs. $13.507715.50; bulk cull lambs. $10@12; bulk fat ewes. $4 @6. Bj/ Times Special 1 /Jv? UISVI F'^' E \ „ —Hogs—Receipts. 1,000: market. 10c higher, best heavy and medium 181 lbs. up. $11.70 pigs and lights 180 lbs. down. $7,707/ 10.20; stags and throwouts. $8.607/9.20. Cattle—Receipts. 100: market, steady; prime heavy steers, $12,507/ 13.50; heavy shipping steers. sll7/, 12.50: medium and plain steers. $107)11; fat heifers, $lO7/ 13.50; choice cows. $97/. 10: medium to good cows. $6,507/9: cutters $5,507/6.50: canners. $4,507) 5.50; bulls. SB7/ 9: feeders. $97/ 11.25. Calf-Receipts, 300; market, steady; good to choice. $11,507// 13.50: medium to good. *9.50(311.50; outs. $9.50 down. Sheep—Receipts, 1,600: market, steady: best mixed lambs. sl4 50: ewes and wethers. sls; seconds. $8779; light sheep. $6: heavy sheep. $4; bucks. $3 773.50, Thursday shipment: Cattle. 494: calves. 178: hogs. 160; sheep. 2.036.

MONEY to LOAN Indianapolis Real Estate First Mortgage —not to exceed 50% of appraisal value—amounts of $3,000 upward. Favorable Rates The Indiana National Bank Indianapolis

THE INDIANAPOLIS TIMES

Produce Markets

Butter (wholesale price) No. 1. 47@48c; No. 2. 45@46c lb. Butterfat (buying price)—4sc lb Cheese (wholesale selling prices, per poundi—American loaf. 34c; pimento loaf. 33c; Wisconsin flat. 39c; prime cream, 25@ 27c; flat daisy. 267/ 27c; Longhorn, 267 l 27c; New York ltmberger. 32c. Eggs—Buying prices: Fresh, delivered at Indianapolis, loss off, 26@27c doz. Poultry (buying pricei Hens. 22c; 29c; Leghorns, 20@21c; old roosters, large. 1% to 1% lbs.. 23@25c; 2 lhs. ad up. 287), 39c; Leghorns, 207*21c; old roosters, large. 12c: small, 10c- ducks. 10c; geese. 8@10c; guineas, old 3! young 50c. Bn United Press CLEVELAND. July 6—Butter—Extras in tub lots. 467/ 48c; extra firsts. 42%7/44%c: seconds. 38%(340%c: prints. 1 to 3 cents above current quotations. Eggs—Extras. 33c; extra firsts, 31%c: firsts. 29c; ordinary. 27c. Poultry—Heavy broilers. 3577 38c; Leghorns. 25@28c: heavy fowls. 27® 28c: medium stock. 277/28c: Leghorns. 187/20c; old ducks. 2077 22c. PotatoesNorth and South Carolina barrels, $2(3 2.15: Virginia branded. [email protected]. Bn United Press NEW YORK, July 6.—Flour—Dull and lower. Pork—Quiet; mess. $30.50. Lard— Firm: midwest spot, $12.35® 12.45. Sugar —Raw. steady; spot, 96 test, delivered duty paid, 4.337' 4.36 c; refined steady: granlated, sc. Coffffee—Rio No. 7 on spot, 15% 7/16c; Santos No. 4, 23%7/24c Tallow— Steady; special to extra. B fi /B%c. Hay-J-Dull; No. 1, $1.25; No. 3. 75c(//$l; clover, 70c7i51.15. Dressed poultry—Quiet; turkeys. 254747 c; chickens. 26@43c; broilers, 307/ 43c; fowls, 157/ 30c: ducks, Long Island. 23c. Live poultry—Quiet; geese 10 7/12c; ducks. 157722 c; fowls, 207/29c; turkeys. 20@25c; roosters. 17® 18c; broilers, 267/ 45c. Cheese—Steady; State whole milk, fancy to specials. 307/32c; young Americas, fresh. 26' -ic. Potatoes—Southern. $1,257/1.75; Maine, 60c7/$1.25: Bermuda, s4@s. Sweets—Jersey, basket. $3 50 7/4.25. Butter—Firm; receipts. 24.876; creamery extras, 44c: special market. 44% 7745 c. Eggs—Quiet; receipts. 41,364; nearby whie fancy, 37@59c; nearby State whites. 317737 c; fresh firsts, 307/30%c; Pacific coast, 327/39c; western whites. 31 @33%c: nearby browns, 30% 7737 c.

Indianapolis Stocks

—July 6 Bid. Ask. Amer Central Life 650 Belt R R & S Yds com 68 71% Belt R R & S Yd pfd 55 63 Central Ind Power Cos pfd ... 99 101% Circle Theater Cos com 102% ... Cities Service Cos com 66% ... Cities Service Cos pfd 100 Citizens Gas Cos com 56 Citizens Gas Cos pfd 101 103 Commonwealth Loan Cos pfd . . 100 . . Equitable Securities Cos com.. 4$ Hook Drug Cos com 31 Indiana 'Hotel Cos. com 125 Indiana Hotel Cos pfd 100 Indiana Service Corp pfd ... 90 Indianapolis Gas Cos com ... 59% Indpls & Northwestern pfd . • Indpls P & L 6%s pfd 104 104% Indpls P & L 7s 100% ... Indpls Pub Wcl Ln Assn 47% ... Indpls St Rv Cos pfd 29% 33 Interstate P S C prior lien 106 107%' Interstate P S C 6s pfd 95 99 Merchants Pu Util Cos pfd .101 North Ind Pub Serv Cos 6s 100 102 Northern Ind Pub S Cos 7s 108% Progress Laundrv Cos com ... 31 E. Rauh & Sons Fert Cos pfd.. 50 Real Silk Hos Cos pfd 74% ... Standard Oil of Indiana 74 TH I & E Trac Cos com 1 T H Trac & Lt Cos pfd 93 100 T H Trac & Lt Cos pfd ,-v -93 ... Union Trac Cos com % Union Trac. Cos. Ist pfd 1 Union Trac Cos 2nd pfd U Union Title Cos com 80 Van Camp Pack Cos pfd 9 Van Camp Prod Ist pfd 96 101 Van Camp Prod 2d pfd 90 100 •Ex-dividend. —Bonds— Belt R R & Sty Ytds 4s 89 Broad Ripple Trac Cos 5s .... 78% ... Central Ind Gas Cos 5s 100 Central Ind Power Cos 6s ....104 .... Citizens Gas Cos 5s 102 105% Citizens Gas Cos 5s 102 105 Citizens St RR 5s 83% 87 Gary St Ry 5s ... 85 Home T & T of Ft Wayne 6s. .103 Indiana Hotel Cos 5s 101 ... Ind Northern Tras Cos 5s 5 Ind Rv &LtCo 5s 97% ... Ind Service Corp 5s 95 ... Indpls Power and Lt Cos 55.... 99 101 Ind Union Trac Cos 5s • • Indpls Col & So Trac 6s 101 103 Indpls Gas Cos 5s 100% 104 Indpls •% Martins Trac Cos 55.. 25 Indpls North Trac Cos 5s 10 14 Indpls & Northw Trac Cos 55.. 25 Indpls St Ry 4s 60 ... Indpls Trac & Term Cos ss^.. 94 96 Indpls Union RV 5s ....100 ... Indols Water Cos 5%s 102 Indpls Water Cos Ist 5s 96 Indpls Water Cos 4%s 96 ••• Water Works Sec 5s 96 99% Inerstate Pub S Cos 4%s 90 Interstate Pub S Cos 5s 91 ... Interstate Pub S Cos 6%s ....101 N Ind Pub Ser 5s 100 T H I & E Trac Cos 5s T H Tr & Lt 5s .. ?4 ... Union Trac of Ind Cos 6s 12% 14 —LIBERTY BONDS— Liberty Loan, Ist 3%s 100.02 Liberty Loan. Ist 4%s }9I 52 }2H2 Liberty Loan. 3rd 4%s .......100.90 101-18 Liberty Loan. 4th 4%s 101.66 101.86 U. S. Treas , 4%s 113.90 114.10 U. S. Treas., 4s 109.02 109.22 U. £?. Treas.. 3%s 106.08 106.28 U. S. Treas.. 3%s 101.48 101.68 Other Livestock Bn United Press FT. WAYNE. Ind.. July 6.—Hog—Receipts. 450; market steady to 10c lower; 90-110 lbs.. $8.15; 110-130 lbs.. $8.90; 130140 lbs.. $9.80; 140-150 lbs., $10.50; 150-160 lbs. $10.35: 160-170 lbs.. $10.90; 170-200 lbs., $11.25; 200-250 lbs.. $11.35; 250-300 lbs.. $11.45; 300-350 lbs . $11; roughs, $97/ 9.25; stags. s6® 6.50. Cattle—Receipts, 100. Calves —Receipts. 100; market. $16.50 down. Sheep—Receipts. 200; market spring lambs sl4 down.

Local Wagon Wheat

Local grain elevators are paying $1.55 for No. 2 red wheat. Other grades are purchased on their merits

Shortest Line Best Service Chicago Four Fast Trains Daily Each One as Good as the Best

IMONON ROUTE

Chicago, Indianapolis &. Louisville Ry “The Booster** Leaves Indianapolis .... 7:45 A. M. Leaves Boulevard Station . . 8:00 A. M. Arrives Chicago 12:45 P. M. “Chicago Limited** Leaves Indianapolis . . . 12:00 Noon Leaves Boulevard Station . . 12:15 P. M. Arrives Chicago 4:55 P, M. “The Tippecanoe** Leaves Indianapolis .... 4:30 P. M. Leaves Boulevard Station . . 4:44 P. M. Arrives Chicago 9:10 P. M. “Midnight Special** Leaves Indianapolis . . . . 1:00 A. M. Leaves Boulevard Station . , 1:15 A. M. Arrives Chicago 7J.OA.M. Sleepers ready in Union Station at 9 P. M. Abo special sleeper ready at Boulevard Station at 9 P. M. All trains arrive Dearborn Station, Chicago, only two blocks from the loop When you travel on the MONON you are protected by Automatic Block Signals Automatic Train Control All the Way

HEAVY RECEIPTS IN WHEAT SEND FUTURES LOWER Major Grain Drops More Than Cent; Corn Irregular; Oats Declines. Bn United Press CHICAGO, July 6.—Reports of large receipts at Southwest terminals sent wheat sharply lower on the Board of Trade today. Com was irrregular, while oats dropped fractionallly. Wheat opened % to 114 c off; corn ranged from %c off to %c up, and oats was down 14 to 14 c. Provisions were about unchanged. Liverpool was about as expected today. The wheat belt had favorable weather with high temperatures in all sections. Traders fear more hedging by northwestern and southwestern houses if the good weather continues. The strong cash market is an important factor in com trading. Splendid weather prevails over the belt with high temperatures and satisfactory precipitation. Trading in oats continues quiet. The first shipments of new oats are expected to arrive from the southern part of the belt in two weeks. Chicago Grain Table —July 6 WHEAT— Prev. High. Low. 11:00. close. July 135% 1.34 1.34% 1,38% Sept 1.38 1.36% 1.37% 1.38% Dec 1.42% 1.40% 1.41% 1.42% CORN— July 1.07% 1.06% 1.07 1.06% Sept 1.01% 1.00% 1.01 Vi 1.01% Dec 85% .84% .85 84% OATS— Julv 54% .52% .53 .54% Sept 44% .44% .44% .44% Dec 46% 46% .46% .46% RYE— Julv 1.19% 1.18 1.18% 1.20 Sept 1.15% 1.14% 1.15 11.5% Dec 1.17% 1 16% 1.17 1.17% LARD— Julv 12.05 12.05 12.05 Sept 12 40 12 37 12 37 12.37 Dec 12.55 12.52 12.55 12.55 RIBS— Julv 12.60 12.60 12.50 Sept 13.00 13.00 13.00 Bn Times Sperial CHICAGO. July 6.—Carlots: Wheat. 4; corn, 106: oats. 35; rye. 1. LOCAL WOMAN INJURED ON WAY TO SEE MATE Car Forced in Ditch by Unknown Driver Near Rochester. Mrs. E. M. Campbell, 5760 College Ave., was improving today at her home from injuries received Thursday in an automobile accident near Rochester. An unknown driver forced the car in which Mrs. Campbell and two friends were on their way to meet her husband at Lake Manitou into the ditch. Charles Greiner, 24, of 5158 E. North St., was seriously injured, but probably will recover from injuries received late Thursday, Methodist Hospital attaches said. Greiner was struck by a car driven by Jesse Pline, 2532 Guilford Ave., at 5300 College Ave. Automobiles driven by Frank Williams, 3103 W. Michigan St., and Judson O. Clark, 35, of 1619 Sharon Ave., collided at 900 King Ave., Thursday night and Donald Williams, 20-month-old son of Williams was cut about the head. Police charged Clark with assault and battery and driving on the left side of the street.

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The City in Brief

Police today searched for Carl Long, 16, and Russell Long, 9, brothers, of 959 W. Twenty-Eighth St. The boys left home at 10 Thursday night, their mother told police. The Indianapolis Sheet Metal and Warm Air Heating Contractors’ Association will hold its annual picnic July 26, at Long Are. Representatives from other associations, from trade papers, jobbers and manufacturers and all branches of sheet metal and warm air heating trade are Invited. Russell Morford, 17, of 253 S. State Ave., was reported as missing from his home today. His mother asked police to search for him. Dr. and Mrs. J. Christopher O'Day and two daughters of Honolulu are visiting Mrs. John F Hurty and Mrs. R. F. Chandler here Dr. O'Day was a member of the State board of health under the late Dr. John F. Hurty. The Rev. G. C. Leonard, missionary superintendent of the Indiana Synod, United Lutheran Church, and Mrs Leonard, will be among lecturers at the Lutheran summer school at Lake Wawasee near Syracuse, Ind., July 10-15. The Marion County Rainbow Division Veterans’ Association will meet tonight in room 1500, Fletcher Savings and Trust Bldg., after a dinner in the Fletcher Cafeteria at 6:30, to plan for attendance at the Rainbow Division Veterans’ national

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convention at Columbus, Ohio, July 13-15. FT. HARRISON C. M. T. C. OFFICER TRANSFERRED Capt. Elmer J. Armstrong Sent to Infantry at Vincennes. Capt. Elmer J. Armstrong, 11th Infantry, training officer, who outlined the C. M. T. C. program at Ft. Benjamin Harison has been transferred to the reserve corps of Indiana with orders to report at Vincennes, Ind.,, with the 333d Infantry. Capt. Wiliam F. Dalton will succeed Captain Armstrong at the Fort. He came there from Panama last fall. Both officers are 1925 graduates of the infantry school. The storm Wednesday night, which wrecked several tents and did other damage, caused delay in the program on the firing range. Pits had to be pumped out before targets could be operated, but the regular schedule was expected to be resumed today. A boxing program is scheduled for tonight. Bees Seriously Hurt Woman Bn Times Special PETERSBURG. Ind.. July 6. Mrs. Oscar Woods, wife of a farmer near here, is in a serious condition from stjjigs of honey bees and her husband was stung severely. The bees attacked when Woods sawed off the limb of a tree on which they swarmed.

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G. 0, P. TO TALK ‘DIG DINNER PAIL' Prosperity to Be Slogan of Campaign. By United Press WASHINGTON, July 5. The “full dinner pail” prosperity issue was emphasized to Republican leaders again today by Dr. Hubert Work, chairman of the Republican national committee, in a letter to all national committeemen and committee women. Work directed all organizers to instruct speakers to emphasize the argument that election of Governor Smith and other Democrats would create a situation in which “precedent warrants the belief that national prosperity would-cease.” Work’s letter to national committee members urged an “aggressive campaign.” The letter mentioned only the tariff and prosperity issues, but Work said other issues probably would be taken up later. “The campaign policy we propose to follow will be informative and constructive only," the letter said. “The promptings of conscience and personal liberty within the law are not pro jer subjects for political debate.” This comment was interpreted as a warning to avoid the prohibition issue.

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JULY 6, 1928