Indianapolis Times, Volume 40, Number 81, Indianapolis, Marion County, 24 August 1928 — Page 25

AUG. 24, 1928

BULL MARKET SENDS STOCKS TO NEW HIGHS Chrysler Features Trading in Motors; American Can Spurts.

Average Stock Prices

Average of twenty industrials Thursday was 229.24, off .47. Average of twenty rails was 141.21, up .20. Average of forty bonds was 96.00. up .05. Bn United Press NEW YORK. Aug. 24.—Stock transactions in early dealings today were the most consistently bullish since the middle of the year when the “Coolidge bull market” was at its apex. The opening was strong in every section, gains running above three points in many issues. Chrysler and General Motors led. Chrysler opened at 100, up 314, a 'new high. General Motors had a split opening at 190 to 19014. Later it rose further to 19114, up 414 points, while Chrysler sold off 114 points from the high of 100. American Can spurted to a record at 109 up 314, and then eased off. Montgomery Ward made anew top at 205 up 214, General electric rose 314 points to 158. National Cash Register was up 3 points to 80 anew high; Allied Chemical, 614 to 197 a new high; and Sears-Roebuck, 3% to 147%. In the coppers new tops were made by Kennecott, Granby and several others of the group. Case Thrashing Machine and Adams Express rose several points. Rails were dull, but firm. Park Tilford and Loft, were active in the store group. Describing the market the Wall Street Journal’s financial Review today said: Stocks responded to the unexpected decrease of $22,099,000 in brokerage loans during the week ended Aug. 22, with sweep lg gains in the early dealings. Advance estimates in brokerage circles had predicted increases running up to $100,000,000 and the fact that a decrease was shown caught many traders with short contracts outstanding. A rush to cover took place at the opening and principal trading stocks pushed ahead on a large volume of dealings. Montgomery Ward reached anew record high at 206, up 314 points; Allied Chemical at 197, up 614 points, and National Cash Register at 80, up 3 points. Further vigorous bullish demonstrations were staged in the general list around noon. Leaders of the early advance absorbed profit-tak-ing and resumed the rise on a huge turnover. Montgomery Ward continued to push ahead in spectacular style, .soaring to a further record high at r 212. up 914. Renewed buying of sto k was conducted on a large scale by interests who have been active in Ward for more than a year with an original position above 100. With these people adding to their holdings, a large outside following was attracted. A. H. Caspary, prominent floor trader who has had a long pull position in Montgomery Ward for some time, was among those adding to his holdings. Anaconda followed American Smelting’s leadership, running up to, its highest levels in several months at 71%, up 3 points from the previous close. Active buying of Anaconda was based on its strong position in the copper industry and on tremendous investment absorption which has taken place this year. Houses recommending purchase of Anaconda pointed out that it was as much an important manufacturing company at it was a producer of copper. As such it is believed to have an investment attractiveness similar to that of standard industrials like American Can, United States Steel and the like.

Banks and Exchange

INDIANAPOLIS STATEMENT Local bank clearings today were, $3,031,000. Debits were. $5,932,000. CHICAGO STATEMENT Bn United Press CHICAGO, Aug. 24.—Bank clearings today were, $100,800,000. Clearing house balance was, $6,500,000. NEW YORK STATEMENT Jfy United Press NEW YORK, Aug. 24. —Bank clearings, $1,028,000,000. Clearing house balance, $105,000,000. Federal Reserve Bank credit balance, $80,000,00. TREASURY STATEMENT WASHINGTON, Aug. 24.—The Treasury net balance Aug. 22 was. $249,666,898.95. Customs receiDts this month to Aug. 22 Were, $36,613,424.74. FOREIGN EXCHANGE > NEW YORK, Aug. 24. Foreign exchange opened higher. Demand sterling, $4.84%. up .00 l-16c; francs, 3.90 7-16 c, up .00 3-16 c; lira. 5.23'/2C, off .OO'/sc; belga, 13.90 c; marks. 23.82'/2C. up .Ol'/sc. Other Livestock Bn United Press CHICAGO. Aug. 24.—Hoes—Receipts, 13.000; market slow, mostly steady with Thursday’s average; top. sl3. paid sparingly for choicee 180-210-lb. weights; butchers, medium to choice 250-350 lbs., sll [email protected]: 200-250 lbs.. $12.1G@13: 160200 lbs.. $11.60*1/13; 130-160 lbs... sll.lo® 2.80- packing sows, $11@12: pigs, medium to choice 90-130 lbs.. [email protected]. Cattle —Receipts. 2,500; calves 1,000; few loads of medium and good steers and yearlings early. [email protected]; light yearlings. $15.65; low grades of she-stock asking steady: vealers, 25® 50c lower; Stockers and feeders steady; slaughter classes, steers, good and choice 1,300-1,500 lbs., $14.15® 16.75; 1.100-1.300 lbs.. $14.25® 16.90; 1 950-1,100 lbs., $14.50® 17; common and medium 850 lbs. up, s9® 14.65: fed yearlings, good and choice 750-950 lbs., $14.75@17; rheifers. good and choice 850 lbs. down. sl4 10®16.65; common and medium. $9.50 @14.25; cow. good and choice. $92.5@13: common and medium. [email protected]: low cutter. $6.25® 7.65; bulls, good and choice, beef. $9.75® 11: cutter to medium, $7.25® fk vealers. milk fed. good and choicee. Up 50® 17.75; medium. $12.75® 15.50; cull Hi common. $8(ft12.75; Stocker and feedsteers, good and choice, all weights. ®[email protected]: common and medium. $9.50 t1F11.75. Sheep—Receipts. 12.000; fat lambs active, mostly 15® 25c higher; quality and sorts considered; sheep steady; feeding lambs firm; lambs, good and choice 92 lbs. down. $13.50® 14.65; medium. sl2® 13.50: cull and common. $8.50@12; ewes, medium to choice. 150 lbs. down, $4.25®7.25: cull and common. [email protected]: feeder lambs, good and choice. $13.50® 14.15. Bit United Press EAST BUFFALO. Aug. 24—Hogs—Receipts. 2,000; holdovers. 1,000; market fairlv active. 10@15c up; 250-350 lbs.. $12.40® 13; 200-250 lbs.. [email protected]; 160-200 lbs.. $13.10W1J.40; 130-160 lbs., $12.85® 13.40; 90-130 lbs., [email protected]; packing sows. sll® 11.60. Cattle—Receipts, 300. Calves—Receipts, 600. market veals 50c up: beef steers. [email protected]; light yearling steers and heifers. [email protected]; beef cows, [email protected]; low cutter and cutter cows, [email protected] vealers. $19.50fi? 19- Sheep —Receipts, 800. market strong. 25c up: top fat lambs, $15.50: bulk fat lambs, sls @15.50; bulk cull lambs, [email protected]; bulk Xat ewes, $5.50(47.3*.

New York Stocks ~~ (Bs Thomson Sc McKinnon) ““

—Aug. 24 Railroads— Prev. High. Low. 12:00 close. Atchison 192% ... 192% 112% Atl Coast Line 167% Balt & Orlo 111 110% 110% 109'/a Canadian Pac ..213% 212% 213 212% Chesa & Ohio ..184% ... 184% 184% Chi & Alton 10% Chi & N West.. 84% 84 84'% 83% Chi Grt West... 13% ... 13% 13% C R I & P 123% 122% 123 122% Del & Hudson..2oo% ... 198% 199% Del & Lack 134 Erie 52’/a 52% 52% 52% Erie Ist Old 57% 57% 57% 57 Grt Nor pfd ..100% 99% 100% 99Vi 111 Central 142% Lehigh Valley 99 % Kan City South 53 5274 53 50 % Lou & Nash .. .. ... ... 145 M K & T 40% 40%, 40% 40Vi Mo Pac pf.l . ..117% 117 117% 1:6% N Y Central. ..170% 170 170% 169% N Y C & St L.. 126 ... 126 126% NYNH &H .. 58% ... 58% 58% Nor Pacific 98% 97% 98 97% Norfolk & West. 183% ... 183% 183% Pere Marquette 133% Pennsylvania 63% P & Vv va 144 143 143 143 Reading 102 ... 102 102 Southern Ry ..150% ... 150% 150% Southern Pac ..124 123 Vi 123% 123 St Paul 38% ... 37% 37% St Paul pfd ... 52% 51% 52 51 % St L S W 103% 103 103 Vi 102% St L& S F 116% ... 116% 116% Texas & Pac ...187 ... 187 189 Union Pacific ...195% ... 195% 194 West Maryland.. 45% ... 44% 44% Waish 77% ... 77% 76% F übbers A.IC.X BVi ... 8% 8% FlSk 10 ’ 10 9% Goodrich 82% 81% 82 80% Goodyear 65% 64% 65 63% Kelly-Spgfld 19% Lee 21% 21% 21% 21% United States.. 34% 34 34% 33% Equipments— Am Car & Fdy.. 90% 90% 90% 90% Am Locomotive. 90 89% 90 89% Am Steel Fd... 53% 53% 53% 53% Am B Shoe 40% ... 40% 40Vi General Elec ...158 158% 157 154% Gen Ry Signal. 98% ... 98 99% Lima Loco 40Vi ... 40% 40 N Y Air Brake 42% Pressed Stl Car 22% Pullman 80% .., 80% 80 Westingh Airb.. 44 ... 43% 44 Westingh E1ec...102% 101% 101% 100 Steels— Bethlehem 60% 60% 60% 60 Colorado Fuel.. 61% ... 61% 61 Crucible 79% 79% 79% 78 Gulf States Stl 63 Inland Steel ... 64% 64 64% 64 Phil RC & 1... 30% 30% 30% 29% Rep Iron & Stl. 64% ... 64 63 Otis Steel 24% 24% 24% 24% U S Steel 152 150% 151% 149% Alloy 40 % 4040% 40 Youngstwn Stl.. 90 ..! 90 90 Vanadium Corp.. 74% ... 73% 73 Motors— .... Am Botch Mag 33% Chandler , 21 % Chrysler Corp ~100 98% 98% 9b% Conti Motors .. 12% ... 12 11% Dodge Bros 19% ... 19% 19% Graham Paige .. 42 41 41% 40% General Motors 191% 189% 190 187% Hudson 81% 80% 81 80 Hupp 64% 63Vi 63% 62% Jordan % Mack Trucks .. 91% 89% 90% 89% Martin-Parry ... 19% ... 19% 19 Moon 7% ... 7% 7% Reo 27% ... 27% 27% Nash 88% 88% 88% 88% Packard 84% 83% 84 82% Peerless 16 ... 16 15% Pierce Arrow ..15 ... 15 14% Studebaker Cor 78% 77% 78% 76% Stew Warner... 96% 95% 96 94% Stromberg Carb 50 Timken Bear ...129% ... 128% 127*4 Willys-Overland. 23 22% 22% 22% Yellow Coach .. 34% 34% 34% 33% White Motor .... 37% ... 37% 37% Mining— Am Smlt & Rfg 240 232% 239'i 229 Vi Anaconda Cop ..-70% 69% 70% 68% Calumet & Ariz 99% ... 99 98 Cerro de Pasco. 78% ... 78 77% Chile Copper 45% 45 Vs 45% 45 Greene Can Cop 107% 105% 106% 104 Nev Cons 25% 25% 25% 25% Int Nickel 102% 101% 101% 100% Kennecott Cop.. 97% 97 97% 96% Magma Cop .... 51% ... 51% 51% Miami Cooper.. 21% ... 21% 21% Texas Gulf Sul 72% ... 72 71 % U S Smelt .... 48Vs 48 48 47% Oils— Atlantic Rfg ...164% 163% 164 161 Barnsdale 25% ... 25% 25% Freeport Texas.. 66V4 65% 66% 64% Houston Oil .. .141 Vs 140*/4 141% 138% Indp Oil & Gas. 26 ... 26 26Vi Marland Oil ... 37% ... 37% 36% Mid-Cont Petrol 29% ... 29Va 29% Lago Oil & Tr . 31 ... 31 31 Pan-Am Pet 8.. 41% 41% 41% 41% Phillips Petrol 39% Pro & Rfgrs 23 Union of Cal 50% Pure Oil 22% ... 22% 22% Royal Dutch ... 58% 58% 58% 58 Shell 31% 31 31 26% Sinclair Oil 26% 25% 26% 25% Skellv Oil 31V, 31 31V, 30% Std Oil Cal 58% ... 58% 58 Std Oil N Y ... 45% 44% 45*/ 45% Std Oil N Y .... 35V, 35Vi 35% 35% Texas Corp 62% 62% 62% 62 Transcontl 7% ... 7% 7% Richfield 47 46 V, 46 V, 45% Industrials— Adv Rumely .... 41% ... 41V* 41% Allis Chalmers .132 131 132 130% Allied Chemical .197 194 195 190% Armour A 22 21% 22 21 % Amer Can 109 ... 107% 105/a Am Linseed 1187s ... 118% 118 Am Safety Re. 2.. 65% ... 65% 65% Am Ice 43 '/a ... 43 % 43 Vs Am Wool 17% Curtis 108% ... , 108% 106 Coca Cola 162% Conti Can 118 117% 118 117% Congoleum .. 24% Davison Chem .. 53% 53% 63Va 53 Du Pont 380 ... 380 379 Famous Players .140 ... 139 139 Int Bus Mch ...126 125% 126 124% Int Cm Engr ...62% 62 62% 61% Int Paper 60% 69% Int Harvester ..288 288% 287 286% Lambert 113% 112% 113 111% Loews 56 ... 56 55% Kelvinater 8% .. 8% 8% Montgom Ward .205 204 V, 205 202% Natl C R 80 78% 78% 77 Pittsburgh Coal 47% Owens Bottle ~ ... 47%, Radio Corp ....194% 192 Vi 193 }89% Real Silk 38% ... 38 37% Rem Rand 25% ... 25% 25% Sears-Roebuck ..147% 146*/i 147 144% Union Carbide ..169% 168% 169% 167 U S Leather ... 45% 45 45% 44% Univ Pipe 18% U S Ind A1c0....114% ... 114% 113 Werner Bros .. 86% ... 85% 84% Warner Bros B. 86 85Vs 85V4 84V, Wright 161% ... 161% 155% Am Express 215 ... 214 215% Am Wat Wks... 58% ... 68% 58% Brklvn-Manh T. 68% ... 68 68% Col G & E 1187s ... 118% 117 Consol Gas 148% ... 147% 146% Elec Pow & Lt. 37% 37 37% 36% Commonwealth P 83% 83% 83% Nor Am Cos 74>/s ... 74% 74 Nat Power 357', ... 35% 35% Pub Svc N J ... 61% 61% 61% 60% S Cal E 50 ... 49 50 Std Gas & E 1... 67% 67 67 67% Utilities Power.. 40 39% 40 39% We it Union Tel. 146 ... 146 158 % Am h intl in ..101% 100% 101% 99 , Am Shin & Com .. ... ... 4% Atl Gulf &W I. 47% 49% 49% 48% Inti Mer M pfd. 35% ■... 35% 35% United Fruit ...136% 136% 136% 136% Foods— Am Sub Rfg 71% Beechnut Pkg .. 76 ... 76 75% California Pkg. .. , ••• 73% Corn Products .. 84% 64*/, 84*4 83% Cuba Cane Sup J 7% Cuban Am Sug.. .. ... ••• , 18% Cudahy 74% 74Vs 74% 73% Fleischmann Cos. 74% 74 74 73% Jewel Tea 130 129% 130 12.% Jones Bros Tea. ... ... ... 38 Natl Biscuit ....168% ... 168% 168% Nat Dairy 92% ... 92% 90% Postum Cos 70% 70% 70% 6978 Kard Baking B. 17% ... 17% 17*% Tobaccos— Am Sumatra 64% Am Tobacco ..101 ... 101 .... Am Tob B 161 ... 161 161 Con Cigars ... 95 General Cigar .. 63 61 % 63 61% Lig & Mevers .. 89 ... 88% 97% Loriilard 29% ... 29% 29 R J Revonlds ..135 134% 135 134*% Tob Products B. 99% ... 99Vs 98% Schulte Ret Strs 60 ... 59 7 /s 59%

In the Stock Market

(By Thomson & McKinnon) NEW YORK, Aug. 24.—Taking the easiest way of the line of least resistant. Leads very many to the conclusion that the surprising, we might even say sensational report on brokers loans Thursday evening was the result of the sale of a few more blocks of stale bonds. Suppose we give the matter a little more thought and look at it in another way. For many months investors, who had parted with their holdings of stocks, expecting to repurchase them at their own prices during the high money period. They waited patiently for that wave of liquidation and waited in vain. Instead of liquidation they say another rise and a wave of commercial activity that locks like an aproaching boom. Is it not reasonable to suppose that some of these people began to lose i hope and came back to the market? and, as a' result, the bank report shows that what was supposed to be speculation was, in fact, reinstatement, and this view may be as right as the bond explanation.

PORKERS OPEN STEADY TO LOW WITHSI3 TOP Steer Receipts Fail to Make Market; Vealers Gain 50 Cents to $1.50. Aug. Bulk. Top. Receipts. 17. 12.10012.75 12.75 4 500 18. 12.15(0)12.75 12.75 4.')00 20. 12.65fRT2.75 12.75 4.000 21. 12.40©12.85 12.85 4.000 22. 12.40*12.85 12.85 7.000 23. 12.65® 13.00 13.00 5.5000 23. 12.65(313.00 13.00 5,500 24. [email protected] 13.10 5,500 Hogs were steady to 10 cents lower with the bulk 150-280 pounds, selling at $12.55@13, and the top being paid was $13.10 at the local stockyards today. Receipts were unchanged at 5,500 and there were 881 holdovers from Thursday. The cattle market was steady with not enough steers to make a market, and cows were unchanged. Vealers were 50 cents to $1.50 higher, the bes selling at $18.50@ 19.50. Sheep and lambs were steady, the top at $13.50 and fat lambs brought sl3. The Chicago hog market opened slow about steady with Thursday’s average selling price. A few loads 17c-240 pounds choice brought [email protected], the top was sl3 paid for strictly choice loads. Receipts, including 1,200 directs were 13,000. Heavy butchers were steady to 5 cents lower on the top, selling at $12.25© 12.70 in a considerably lower market at the local stockyards today. Other quotations are as follows: 200-250 pounds, sold 10 cents lower at $12.65© 12.90; 160-200 pounds, were 10 cents higher on the top, selling at $12.90© 13.10, which was the only quotation in the market that was higher; 130-160 pounds, was 25 cents lower on the bottom price, selling at $12.25@13; 90-130 pounds, was steady, bringing $10.50 ©l2, and packing sows brought $10.50© 11.50. Beef steers were steady with not enough to test the market, bringing $13.50© 16; beef cows brought s9© 11.50; low cutter and cutter cows sold for $5.50©7.50, and bulk stock and feeder steers brought sß©l2. Receipts were considerably lower at 600. Best vealers were 50 cents to $1.50 higher on the local stockyards today, selling at slß.so©> 19.50, and heavy calves were steady, selling at s7©ll. Receipts were about norma lat 650. The sheep and iamb market was steady to unchanged, the top selling at $13.50; bulk fat lambs brought sl2© 13.50. and fat ewes sold for $4.50'??6.50. Receipts were 1,100. —Hoc—?o Cnts, ,u sSoo: market, steady to lover. 252-2 X ~, ,b * $12.25*1270 ~b s 12.90*13.10 lbs 12.25*13,00 90-130 lbs 10 50* 12.00 Packing sows 10.50*111.50 —Cattle— RccelDts. 600; market, steady Beef steers sl3 50*16 no Beef cows 9.00*11.50 Low cutters and cutter cows.. 5.50f1> 750 Bulk stock and feeder steers.. 8.00312.00 —Calves— Receipts. 650: market, steady to higher. Best vealers $518.50*19.50 Heavy calves 7.00® 11.00 _ —Sheep— Receipts. 1,100; market, steady. T°P fat lambs $13.50 Bulk fat lambs 12 00013 50 Fat ewes 4.50® 6.50 Other Livestock Bn Times Special ™ OUKV , ILbE ' Au K- 24.—Hogs—Receipts, 600; market, steady and medium; hogs, 80 lbs. up. $12.25(0,12.75; pigs and lights. 180 lbs. down, $8,750,11.35; stags and throw-outs $9.65*10.25. Cattle—Receipts. J;s : c steady; prime heavy steers. $13.50@T5- heavy shipping steers. *12.50® 13 50; medium and plain steers. .$10*; 12.50: fat heifers, medium to good cutters, $5 50* 6.50; canners. $5*5.50; bulls. $6®8.50; feeders. s9® 11,50; stockers, sß*l i. Calves—Receipts, 300; market, steady, good to choice $13.50* medium to good. $11.50* 13.50; outs $11.50 down. Sheep—Receipts, 700; market £ , r? dy L la mbs, $12.50*13; seconds. sß* 8.50; shepe, $406; bucks, $3*3.50. Thursday's shipments: Cattle, 427; calves, 95; hogs, 425; sheep, 1156. Bn United Press FT. WAYNE. Ind.. Aug. 24.—Hogs Receipts, 300; market steady to 10c sower; 30-110 lbs., $10.25; 110-130 lbs., $11.25; 130-140 lbs.. $11.90; 140-160 lbs., sl2 45-60-180 lbs.. $12.55; 180-200 lbs.. $12.75 : 200-250 lbs., $12.50; 250-300 lbs., sl2 25 : 300-350 lbs.. sl2; roughs. $10.50(311; stags $7.50*8. Cattle—Receipts, 125. Calves— Receipts. 100; market. $lO down; sheen $13.50 down. Bn United Press CHICAGO, Aug. 24.—Poultry—Receipts, 4 cars; fowls, 26* 28c; Leghorns, 24c; ducks, heavy, 18c; small, 15c; young. 22c; geese, 14c; young. 10c; turkeys 20c; roosters, 21c; broilers. 29c. Cheese —Twins, 24%c; Young Americas, 25c. Potatoes—Arrivals, 43; on track. 130; In transit, 598; Kansas and Missouri sacked Irish cobblers, 95c*51.15; Nebraska sj.cked Irish Cobblers, $1.40* 1.45; sacked triumphs, $1.60; Wisconsin sacked Irish 'Cobblers. $1.2501.35; bulk Irish Cobblers, $1.15; Minnesota sacked early Chios, 90c*$l; Virginia, barrel Irish Cobblers, s2*3. Bn United Press CLEVELAND. Aug. 24.—Butter—Extras In tub lots, 40%®51%c; extra firsts, 45%*, 47%c; seconds, 41%*43%c. Eggs—Extras, 38c; extra firsts, 35c; firsts. 32%c; ordinaries. 28%c. Poultry—Heavy fowls, 30* 31c; Leghorns, 22®24c; heavy broilers. 35 * 37c; Leghorn broilers, 28* 30c; ducks, 20 *22c; geese. 16@17c; old cocks. 15@17c. Potatoes—U. S. Nc. 1 cloth top stave barrels Virginia, *2.50*2.60. PITTSBURGH, Aug. 24.—Hogs—Receipts. 1,000; market, steady; 250-350 lbs., $12.75 *13.35; 200-250 lbs., $13*13.65; 160-200 lbs.. $13.25013.60; 130-160 lbs., $12013.65; 90-130 lbs., $U.50012.50; packing sows, $lO @10.25. Cattle—Receipts, 25. Calves—Receipts, 50; market, steady; beef steers. $12*15.50; light yearling steers and heifers, $12.50*15.50; beef cows, $8*11.50; low cutter and cutter cowb, $5*7.75; vealers. $15*18.50; heavy calves. s9®ls. Sheep —Receipts. 150; market, steady; top fat lambs. $14.75; bulk fat lambs. $12.50*14.75; bulk cull lambs. $8010.50; bulk fat ewes. ss*7. f Bn United Press CINCINNATI, Aug. 24.—Hogs—Receipts, 2.600; holdovers, 1,300; market, steady; 250-350 lbs., $11.75*12.25; 200-250 lbs., $12.50*13.50; 160-200 lbs., $12.50*13.25; 130-160 lbs., $11.75*18.85; 90-130 lbs., $lO @ 12.25; packing sows, s9*ll. CattleReceipts, 350. calves—Receipts. 300; market. steady; beef steers. sllOls- light yearling steers and heifers. $10*15; beef cows, $7.50*11; low cutter and cutter cows, $5.50*7; vealers, $13*17; heavy calves, $10@14; bulk Stocker and feeder Steers, $10.50*11.50. Sheep—Receipts. 300; market, steady; tor fat lambs, sls; bulk fat lambs $l2O 14.50; bulk cull lambs. $6 *9.50; bulk fat ewes. $4*6.50. Bii United Press TOLEDO. Aug. 24.—Hogs—Receipts, 250: market 15* 20c lower; heavies, $12*12.40; mediums, $12.75%13; yorkers, $12.70*13; good pigs, $12*12.75. Cattle—Light; market steady. Calves—Light; market strong. Sheep and Lambs—Light; market steady.

Thomson & McKinnon INDIANAPOLIS CHICAGO NEW YORK MEMBERS New York Stock Exchange Chicago Board of Trade New York Cotton Exchange Chicago Stock Exchange New York Curb Association 300 Fletcher American Bank Bldg. ' Telephone LI ncoln 8391

THE INDIANAPOLIS TIMES

Commission Row

PRICES TO RETAILERS FRUITS Apples—New fancy Transparents. $1,250 1.75 basket; Duchess. $1.50*1.75: Wealthy. $1.25*1.75. Cantaloupes—Home grown. 75c@sl 25 flat crate; $2.50*3 large crate; Tip-Top. $3.50*4 bbl. Grapes—California Malagas, $2 crate. Huckleberries Virginia $2.50: 12-qt. basket. Lemons—California. $7.50 0 8 crate. Limes—Jamaica. $1.75*2.25 per 100. Melons —Honey Dew. California. *2*2.25. Oranges—California Valencias. $7*9.25 crate. Peaches—Elbertas. $1.7502.25. Pears—Bartlett. $4. Plums—Califorrnia, $203 crate. Watermelons —Florida 40*60c each. VEGETABLES Beans—Home-grown stringless $2,250 2.50 bu.: Kentucky Wonders. $1.75 02. Beets—Home grown. 30c doz. Cabbage—Home grown 51.25 bbl. Carrots—Home grown. 35c doz. Cauliflower—Home grown. $2 75 crate Celery—Michigan. [email protected] crate. Corn—Fancy home grown. 10* 15c doz. Cucumbers grown. 40 0 50c. Eggplant—sl.7s. Kale—Spring. 60c bu. Mustard—Fancy, home grown. 60c bu. Okra—Tennessee. 75c*$l basket. Ontons—Home grown, green. 25040 c doz.; home-grown yellow, $1.25. 50 lbs.: white. $1.50. Parsley—Home grown. 50c doz. bunches Peas—New York. Telephone. $4.50 0 5 a 45-lb. crate. „ ~ _ Peppers—Home-grown Mangoes >sc® $1.25 bu. , Potatoes—Kentucky cobblers. $202.25 bbl.: fancy home grown. $2.7503 bbl. Radishes—Hothouse. Button. 6bc doz. bunches. Rhubarb—Home grown. 35c doz. Spinach—Fancy home grown. $1.35 bu. Sweet Potatoes—s 2 hamper. Tomatoes —Southern Indiana. 75c@$l. MISCELLANEOUS Cider—s4.so 6-gal. case: $4.75 doz.. %- gal. jars. Garlic—California. 15c lb.

Produce Markets

Butter (wholesale Dried No. 1. 50051 c; No. 2. 48*48%c. _ Butterfat (buying pried—47o4Bc lb. Cheese (Wholesale selling orices. pet poundi—American loaf. 35c: pimento loaf. 37c; Wisconsin flat. 29c: prime cream 32c; flat aDtsy 27c; Longhorn. 28c; New York Limberger. 32c. Eggs—Buvlr.g prices- Fresn. dellvereo at Indianapolis, loss off, 29c. Poultry (buving oricesi— Hens 23®24c. Leghorn hens. 13019 c; 1928 spring, large breed. 2 lbs. and up 29*3uc: 1% to l% lbs., large. 23@24c: small. 10*13c; ducks. 12013 c; geese. 8® 10c: guineas, young. 5Cc: old 35 0 37c.

In the Grain Market

(By Thomson 4c McKinnon) CHICAGO, Aug. 24.— Increasing comment on the fact that wheat prices have declined so far below the cost of production in this country and efforts of both political parties to find some fliethod of improving price levels are creating a more friendly attitude and belief is growing that Canadian pool wheat will not be hedged this level. Corn acted Thursday bearish crop news has had its full effect and a covering movement, appears over due.

Indianapolis Stocks

- AUg - 24 "- Bid. Ask. Amer Central Life 650 ... Bel’, RR 4c Yds com 68% .1 Belt RR 4: Stkvds pfd....... 59% 63 “Central Ind Power Cos pfd... 96 101 a “Circle Theater Cos com 103% ... Cities Bervtce Cos com 65% ... Cities Service Cos pfd 100 ... Citizen Gas Cos com 56% 57_ •Citizens Gas Cos pfd......... 102% 103 , Commonwealth Loan Cos pfd...100% 105 Equitable Securities Cos com.. .. Hook Drug Cos com 32 a ... Indiana Hotel Cos com 125 Indiana Hotel Cos pfd... 100 100% Indiana Service Corp pfd .... 90 ... Indianapolis Gas Cos com 60 64% Indpls <sc Northwestern pfd... 14 ... Indpls P4iL6s pfd 104% 106 Indpls P&t 7s 99 101% Indpls Pub Wei Ln Assn 47% .. Indpls St Ry Cos pfd 35% 37 Interstate P 8 C prior 1ein....103% 107 Interstate P S C 6s pfd....... 92 98 Merchants Pu Util Cos ofd ...10. ... •Metro Loan Cos 8s 99 103 North Ind Pub Serv Cos 6s 99 102 Northern Ind Pub S Cos 75... 107% ... Progress Laundry Cos cam .... 33 ... E Rauh & Sons Pert Cos pfd. 50 Real Silk Hos Cos pfd Standard Oil of Indiana 74% ... T H I 4t E Trac Com 1 T H I 45 E Trac Cos pfd 15 ... T H Trac 4: Lt 90 94 Union Trac Cos com % Union Trac Cos Ist pfd 1 Union Trac Cos 2nd ofd Union Title Cos com 80 Van Camp Pack Cos pfd 12 ■- Van Camp Prod Ist pfd 97 100 Van Camp Prod 2d pfd 91 96 •Ex-dividend. —Bonds— Belt R R & Stk Yras 4S 8? ... Broad Ripple Trac Cos 55.... 75 80 Cltliens Gas Cos 5s 101 103 Central Ind Power Cos 6s 101-a ••• Chi S B 45 N Ind 15 ... Citizens Gas Cos 5s 103 Citizens St R R 5s 84 90 Gary 8t Ry 5s ••••85 90 Home T <fc T of Ft Wayne 65..'02 Indiana Hotel Cos as. 01 ... Ind Northern Trac Cos 5s • • j Ind Rv /v. Lt Cos 5s 98% 102 Ind Service Corp 5s 93 96 Indpls Power and Lt Cos 55.... 99 100 Ind Union Trac Cos ss. I ... Indpls Col 4s So Trac 6s 99 102 Indpls Gas Cos 5s .......101 Indpls 45 Martins Trac Cos ss. 30 ... Indpls 45 Northw Trac Cos 55.. 30% ... Indpls 45 Nortliw Trac Cos 55.. 30 ... Indpls St Ry 4s 65 67% Indpls Trac 4: Term Cos 55.... 94 96 Indpls Union Ry 55.. 94% ... Indpls Water Cos Ist 5%s .....103 104% Indpls Water Cos Ist 5s 96 Indpls Water Cos 4%s 96 ... Water Works Sec 5s 95 99% Interstate Pub S Cos 4%s .... 89 91 Interstate Pub SCo 5s 95% 98 Interstate Pub S Cos 6%s N Ind Pub Serv 5s 98 101% T H I 4t E Trac Cos 5s 75 T H Trac 45 Lt Cos 5s 93 ... Union Trac of Ind Cos 6s 11 14 Government Bonds Liberty Loan Ist 3%s 99.42 99.62 Liberty Loan Ist 4%s •••• 1 00-74 J 0 Liberty Loan 3d 4%s 99.96 100.16 Liberty Loan 4th 4Vs U S Treasury 4%S ..110.96 Jil l® U S Treasury 4s .....105.90 JO6IO U S Treasury 3%s 102.50 103.10 U S Treasury 3%s 98.58 98.78 OPENING COTTON PRICES Bn United Press . . NEW YORK. Aug. 24.—Cotton futures opened steady. October, 18.80. up .06; December, 18.57. off .02; January 18.53; March. 18.59. off .01; May. 18.63. off .02. OPENING SUGAR PRICES Bn United Press . . NEW YORK. Aug. 24—Sugar futures opened steady. September, 2.25; December, 2.40. up .01: January. 2.41; March. 2.43, up .01; May, 2.50, up .01; July. 2.58. up .01.

Local Wagon Wheat

Local grain elevators P a Y in * * 12 2 for No 2 red wheat and 98c for No. 2 hard wheat. Other grades are ourchased on their merits. MONEY TO LOAN —ON—MORTGAGES STATE LIFE Insurance Cos. 1255 877AT8 LIFE BLDG.

GRAIN FUTURES SINK FOLLOWING FROSTRUMORS Wheat Leads in Decline; Corn, Oats Quotations Irregular. Bn United Press CHICAGO. Aug. 24.—Wheat prices on the Board of Trade today showed a reaction from the sharp advance caused by Thursday’s Canadian frost scare. Corn and oats were irregular under conflicting influences. Wheat opened % cent to 1 cent lower, corn ranged from x 4 cent off to % cent higher and oats was M cent off to cent up. Provisions were slightly higher. The rush of shorts to cover, which sent wheat prices sharply higher late Thursday, failed to even up the market, in the opinion of most traders, and a heavily oversold condition is believed to exist. * The cash corn situation has held the September delivery firm. Brilliant crop prospects are a bearish factor in the deferred futures trade, but some operators believe the present low prices have discounted all depressing influecnes. Oats met with good export and shipping demand Thursday and prices showed the first good advance in weeks. Chicago Grain Table —Aug. 24High Low 12:00 Close WHEAT— September ... 1.11% 1.10 1.10% 1.12 December ... 1.17 1.15% 1.15% 1.17% May 1.23% 1.22% 1.22% 1.24% CORN— September ... .91 .89% .90 .89% December ... .73% .73% .73% .73% March 76% .75% 76 .75% OATS— September ... .37% .37% .37% .37% December ... .40% .39% .40.40% March 42% .42% .42% .42% RYE— September ... .96% .95% .96% .97% December ... 97% .96% .97 .98% March 1.00 . .99 1.00% LARD—September .. 12 30 12.25 12 27 12.22 October ... 12.45 12.40 12 40 12,35 December .. 12.65 12.62 12.57 RIBS— SeDtember .. 14.15 October ... 14.00 Bn Srirnrr Serricr CHICAGO. Aug. 24. Carlots: Wheat. 151; corn. 57; oats. 129: rye. 0. Births Boys Frank and Louise Wuenseh. 1509 Bradbury. Samuel and Myrtle Rice. 928 N. Traub. Thomas and Estella Williams, 1122 Ashland. Harvey and Harriet Mannls, 2814 Schofield. Henry and Esta Davis. 1940 Cornell. Graham and Mary Shiflet. 2135 Pleasant. Charles and Maybelle Jones 2505 Sangster. Charles and Anna Little. 578 N. Traub. James and Allle Wade. 2024 Alvord. Girls Harry and Blanche Lawson, 317 E. Vermont. Carl and Marie Wetterllng, 1304 Bellfontaine. Virgil and Sylvia Rogers. 1343 Deloss. Elmer and Ruth Nicholson 826 N. Oriental. Joe and Mav Richardson, 1530 Lewis. Altus and Grade George, 1803 W. Washington. Lawrence and Caroline Ward, 1015 B. Pershing. Deaths Anna E. Neff, 62. 4923 Park, myocarditis. George D. Melton. 8 months, city hospital. malnutrition. Thomas L. Connor, 59, 944 Eastern, myocarditis. Jean J. Baxter, 7, 1307 N. Denny, typhoid fever. Lot Lee Buchanan. 45. 1305 Fletcher, acute endocarditis. Miriam E. Storms. 3 months. 1335 Udell, dysentery. Allen Buslck. 69, Methodist Hospital, arterlo thrombosis. Charles T. Whitsett. 76. 5501 University, chronic myocarditis. Edward M. Slattery, 29, city hospital, empyeema. Infant Wvnn. 1 day. 1720 N. Rural, premature birth. Emma J. Woolf. 37. Christian Hospital, acute dilatation of heart. James A. Brasel, 73. 6094 Ralston Dr., acute dilatation of heart. Ora D. Perkins. 39. 4353 Guilford, cerebral hemorrhage. Willis Milton Overly. 2. Clark Blakeslee Hospital, streptococcic enteritis. Elizabeth A. Finehum, 63, city hospital, chronic myocarditis. Lucetta Downing. 69. Christian Hospital, chronic myocarditis. Minnie M. Stormbock. 52. 1209 S. State, carcinoma. Infant Flynn. 8 days, city hospital, malnutrition.

Excursion to Cincinnati s*7* To Shelbyville ..$ .75 “ Greensburg.. 1.25 “ Batesville ... 1.50 Sunday, August 26 Special train of all-steel equipment will leave Indianapolis 7:00 a. m. Central Time (8:00 a. m. City Time); returning leave Cincinnati 7:15 p. m., Eastern Time, same date. Tickets at City Ticket Office, 112 Monument Circle, Phone lUley 3322 and Union Station. BIG FOUR ROUTE

EXCURSION Indian Lake (Russell Point, Ohio) Sunday, August 26 (U 9 7CJ Round I %J Trip Half Fare for Children 5 and under 12 years Leave Indianajolis 7:00 a. m. Central Time (8:00 a. m. City Time); arrive Russel) Point 11:30 a. m. Eastern Time. Returning, leave Russell Point 7:30 p. m. Eastern Time; arrive Indianapolis 11:00 p. m. (City Time). Bathing, Dancing, Boating, Fishing, Airplane Trips, Speed Boats, Launches. All kinds of amusements on the Board Walk. Fine, sane Beaches. One of the Largest Dance Pavilions in Ohio. Tickets and full information at City Ticket Office, 112 Monument Circle, plione Riley 3322, and Union Station, phone Kiley 3355. J. N. Lemon, Div. Passenger Agent BIG FOUR ROUTE

2 CONVENTIONS MEET FOR LAST SESSIONSTODAY 1,000 Negro Delegates Are Here During Week for Parleys. More than 1,000 prominent Negro men and women are attending the Mme. C. J. Walker Manufacturing Company and Masonic conventions held here this week, the final sessions of which will be held tonight. The new Walker building at Indiana Ave. and West St., formally was dedicated Wednesday with an address delivered by William Pickens of New York City, of the National Association for the Advancement of Colored People. The convention will close with a coiffure revue, fashion show and dance, to be given at the Walker Casino tonight. Mrs. Marjorie Joyner and Mrs. Alice C. Burnett will be in charge. Masons lo‘Elect Final sessions of the Indiana Masonic grand lodges will be held today. Election of officers for the Master Masons is on the program for the afternoon. Royal Arch Masons elected the following officers: Dan R. Motley, ShelbyYille, most excellent grand high priest: Albert Hawkins, Marion, most excellent deputy grand priest; W. S. Murphy, Vincennes, right excellent grand king; Charles 1. Brown, New Albany, right excellent grand scribe; J. C. Dawson, Kokomo, right excellent grand treasurer; J. C. Gayhart, Indianapolis, right excellent grand secretary; the Rev. Barney Stone, Noblesville, right excellent grand chaplain; J. W. Hawkins, Gary, right excellent grand principal sojourn; Luther Buderant, Crawfordsville, right excellent grand royal arch captain; W. S. Patterson, Crawfordsville, right excellent grand master of third veil; W. T. Jackson, Kokomo, right excellent grand master first veil, and W. W. Walden, Kokomo, most excellent grand master second veil; W. T. Anderson, Lafayette, chairman of the committee on foreign correspondence. A joint initiation of fifty candidates was held at Trinity Hall, Thursday night. Start Work on Y. W. C. A. Building operations on Phyllis Wheatly branch Y. W. C. A., at Walnut and West Sts., began Wednesday. The seventeenth anniversary of the * Metropolitan Baptist Church will be held from Aug. 27 to Sept. 2. The service is complimentary to the pastor, the Rev. J. D. Johnson, who has been at the head of the church more than seventeen years. The Rev. P. T. Gorham, superintendent of the Chicago, Detroit and Indianapolis districts, will conduct the second quarterly meeting of the conference year at Barnes M. E. Church, Sunday. The Rev. S. B. Butler will conduct Sunday morning and evening services at Mt. Zion Baptist Church. Delegates Arrive A baby girl has been born to Mrs. Mae Walker Perry, daughter of Mrs. A'Lelia Walker Kennedy, according announcements. ' Madam Elizabeth Holder will be presented in a musical recital Aug. 27, at St. Paul M. E. Church. The recital is under auspices of the Toy

FALL ASLEEP— amid cool, quiet surroundings

-get a fine Board the Chicago sleeper at m * Boulevard Station-any time j® after 9 o’clock in the evening it is ready for you. Enjoy the cool, pleasant surroundings and get a full-night’s rest Wake up in the morning in Qhicago—refreshed and happy! Automatic blook signals and Automatic Train Control protect you all the way. Do as most people do—take the

The ‘All Kids Klub ’ SIGN AND BRING TO THE TIMES OFFICE BEFORE NEXT TUESDAY. To the Secretary of Broad Ripple Park and Indianapolis Times All Kids Klub for Boys and Girls: I hereby apply for membership in the ALL KIDS KLUB Sponsored by Broad Ripple Park and Indianapolis Times PLEDGE: I promise to always play fair and indulge in good, clean, wholesome recreation and to try and influence other boys and girls to do likewise. I further promise to observe all safety first regulations. Date / Name Address Town State Date of Birth Indorsed by (Parent or Other Adult)

Soi Soi Club of which Mrs. Susie Nelson is president. Delegates from Los Angeles are among the vanguard arriving for the Apostolic convention which convenes at Christ Temple today. The Rev. G. T. Haywood, presiding bishop of the convention, Invites the public to attend meetings of the fifteen-day confernce. Dr. E. A. White, pastor of Simpson M. E. Church will preach at both services on Sunday. Dr. and Mrs. C. N. Harris, Boulevard PL, have returned from a motor trip to Chicago. Home From Vacations Mrs. Margaret Robinson motored from Cleveland with Dr. and Mrs. John Taylor, who are attending the Walker convention. Mrs. Robinson is a guest of Mrs. Gertrude White, Boulevard PI. Miss W. G. Harvey, West TwentySixth St., has returned to her duties in Attorney Brokenbur’s office, following a vacation at Dayton, Ohio. G. H. Gant, Douglas Apts., has returned from Tuskegee Institute, where he taught during the summer. Miss Gertrude Gamlin of the Y. M. C. A. staff has returned to her duties following a vacation at the girls’ summer camp. ■ Dr. and Mrs. E. A. White and son, Everett, have returned from a vacation trip to Lexington, Ky., and Chicago. Mrs. J. C. Hayes and children are spending a week’s vacation in Detroit, Mich. George Phillips, N. Sheffield Ave., is visiting with his son, Lee Phillips, in Columbus, Ohio. Mrs. Cora C. Willis was called home by the death of her sister's husband, David Baker, Blake St.

W $0.75 In round trip I LOUISVILLE SUNDAY, AUGUST 26 Ticket* good in couches only on trains ehown • s Central Standard Time I Leaving Indianapolis 7.40 A. M. "5: RETUIWiING :•% , , , in flOth and Broadway - 6.50 P. M. 11.18 P. M. j|j Lv ’ Lou " ,vlUo \l4th and Main - - 7.02 P.M. 11.27 P.M. ” CITY TICKET OFFICE. 116 Monument Place T.t Phone, Riley 7353 | PENNSYI VANIA" RAILROAD

[MONON ROUTE]

The Shortest Line to CHICAGO For tickets o© reservations, phona Boulevard Station—Washington 0820 or FRANK V. MARTIN, General Agent, Passenger Department 114 Monument Place —Phone Lincoln 6404

PAGE 25

HAAG MANAGEMENT UNCHANGED BY SALE Holding Company Is Step Toward Expansion of Drug Chain. Management of the ten Haag drug stores in Indianapolis will be unchanged by their sale to the Eastern Investment Cos., Inc., a holding company incorporated Tuesday. Herbert L. Haag, general manager, said today. Bill of sale for the transaction was filed Thursday ln the Marion county recorder’s office. Miss Elnora C. Haag, as president of the holding company, retains majority iaterest in the stores; George M. Ray and Scott Ray are named vice presidents, and Oscar W. Hess, secretary treasurer. "The transaction is a preliminary step to enlargement of the chain,” Herbert L. Haag said. “The existing stores will continue as at present and additions probably will not be made for a year. GUNMEN "WANTED HERE Police Watch for Fugitives from Ohio Town. Indianapolis police today were asked to be on the lookout for a car which contained two men escaped from police at Miamisburg, Ohio, early today, following a gun battle. Two license numbers were given by the Ohio officers, one listed from Oaktown, Ind., and the other from Monroe City, Ind. The men were cutting open a suitcase when a Miamisburg officer approached. They fired three shots at him and he returned the fire, but the pair escaped.