Indianapolis Times, Volume 41, Number 38, Indianapolis, Marion County, 25 June 1929 — Page 13

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STOCK PRICES IRREGULAR IN MART OPENING Numerous Issues Advance From Fractions to One Point.

Average Stock Prices

of twer.ty Industrials Monday 321.13. o!T 1 Oft. Averatjo of twenty rails was 159.16. up .2! Average of forty bonds was 53.36. off .00. BY ELMER C. VVALZER United Press Financial F.dltor NEW YORK, June 25.—Though marred by some irregularity, the general stock market tendency appeared upward at the opening today. The undertone was strong and numerous issues advanced from fractions to more than a point. Losses were moderate and confined to issues that were due to react from profit-taking. Some of the oils, especially Simms, w r ere depressed, the selling in that group spurred on by reports showing new record production for the week ended June 22. North American was a strong spot in the utilities, rising a point to 131. Public Service made a similar gain to 102. On the other hand, Standard Gas and Consolidated Gas sold off more than a point each. United States Steel declined fractionally to 179%, while Bethlehem advanced nearly a point to 106%. Small gains were made by Radio Corporation, Westinghouse Electric, Hudson. Chrysler, Texas Corporation and Goodrich. Anaconda opened off 1 % at 113%., but quickly came back a point. Directors meet for dividend action this morning and it was expected the stock would be placed on a $7 annual basis. Irregularity continued in the early trading, but changes generally were narrow. A few individual issues like Superior Steel were bid up sharply. Baldwin headed the equipments with a 2-point rise and Chesapeake & Ohio was the favorite of the rails, gaining Its to 226.

Banks and Exchange

INDIANAPOLIS STATEMENT Indianapolis bank clearir.es Tuesday June 25. $3,728,000 debits. $7,208,000. NEW YORK STATEMENT B’l United Press NEW YORK. June 25.—Bank clearings, *1 659.000.000; clearing house balance, $165 000.000; federal reserve bank credit balance. $135,000,000. CHICAGO STATEMENT Bv United Press CHICAGO. June 25 —Bank clearings. 5106.7C0.000, house clearings balances. $5,400,000. TREASURY STATEMENT B y t'nited Press WASHINGTON. June 25.—Treasury net balance June 22, $419,613,639.73: customs receipts to date. $40,580,844.25.

In the Stock Market

<Bv Thomson k McKinnon) NEW YORK, June 25.—Although bankers are somewhat divided in their views as to how 7 high the call money rate may go this week, there seems to be a very general opinion in influential circles that the federal reserve authorities will ease the unusually high rate. Inasmuch as the current money flurry is due to a large extent to withdrawal of funds for dividend payments, carrying in itself a reflection of prosperous conditions, we doubt very much whether the stock market will be unduly disturbed. The silver lining, of course, will be in the reinvestment demand, when dividend and interest checks have finally been distributed. With individual members of the reserve system expressing the view that we have passed the peak in money tightness, is it not logical to assume that the recent action of the market is a discounting process of the return to more normal money costs? It seems so to us and this has prompted our optimistic viewpoint on the general outlook for security prices. We see nothing as yet to alter our views. THUNDER CAUSES WRECK Bus Driver Fails to Hear Train Because of Storm; 4 Killed. Bu United Press SHEFFIELD. Mass., June 25. The din of a thunder storm, which prevented a bus driver from hearing a train's approach, was believed responsible today for a grade crossing tragedy that caused four deaths and injuries to seven other persons late Monday. Jolt Ends Coma £••/ Times Special BIRDSEYE. Ind.. June 25.—Curtis Cummings, 60, today is in full possession of his memory and other mental faculties as the result of a jolt received when brakes of a train were applied while he was a jfessenger en route to New Albany for an X-ray examination. He had been in a state of coma a month, following a fall at his home when his head struck a stone. Wealthy Farmer Kills Self Bu Times Special NEWTON STEWART. June 25 The body of Turner Baxter. 85, was found near his home after he had been missing since June 12. He had committed suicide by cutting his throat. A large sum of money in gold was found on the body. Baxter, wealthy eccentric farmer, had made threats to end his life in conversation with his wife.

‘High ’Society By United Press NEW YORK. June 25—The first aviation country club in the United States will be opened at Hicksville, L. 1., on Friday. It will be known as the Long Island Aviation Country Club, and will have a $300,000 clubhouse. The United States army has promised to send fliers to perform at the dedication ceremonies.

New York Stocks 1 (By Thomson k McKinnon)

—June 25 Prev. Railroad*— High Low. 12 00. close. Atchison ...231% 226 231% 226 Atl Coast Line 189, JR? Balt k Ohio 125% 124% 125% 124% Canadian Pac ..232% 231 232% 231 Chesa k Ohio ..226% 226% 226% 225% Chesa Corp 94 91% 94 91% Chi k N West... 65% 84% 84% 84-, Chi Grt West 16 15% 19. 15% C R I k P 134 130% 132% 130 Del A: Hudson 200 199 Del * Lacka 124% Erie 80% 79% 80 .$% Erie Ist pfd. ... 63% 64 Or Nor pfd.... 108% 108 108% 110% I Central ...139% 138 139% 138 Lehigh Valley . 31 90% 60% 90 Kan Cltv South 94% 93% 94% 94% MK A T 51 % 49% 54"a 48% Mo Par pfd 135% 135 135 135% N Y Central . . 204% 202 204% 203%. N Y C <fc 8t L. . . 145 144% NY NH k H 113% 110 s * 112% 111% Nor Pacific ....IOS 105 105 105'* Norfolk k We5t..229 228 229 225% O&W 25% Penr.rvivanla ... 34% 83% 84% 83 P k W Va 137% 137 137% ... Rradiny 113 110 112% 112 Southern Ry 145% 144% 145% J 44% Southern Pac ...134 132% 133% 133 ss St Paul .. ... 31 4 22 St Paul pfd 51% 51% 51% sn* 8. Lk S W 93% 91% 925 s 92% St L k S F ...118% 117% 118 117’* Pa 234 % 231% 233;.' 231% West Maryland.. 43% 42% 43% 42 * Wabash 71% 71 71 71 West Pac 35% 34% 35 34% Rubbers— Ajax S% 5% Fisk 9% 9 , 9 9 Goodrich 79% 79% ‘9% ‘® =* Goodyear 125% 123 124% Kelly-Spgfld 16% 15% l-Vs 153* Lee 14% 14% 14% 15% United States .. 52% 51% 52 52 Equipments— Am Oar k Fdv.. 98 97~< 98 97% Am locomotive 122 120% 121% 12 *% Am Steel Fd 67% 67 67 67% Am Brake S ■ • • • • General Elec ...305 299% 302 300 Gen Rv Signal ..116% 114% 116% 114% Gen Tank N Y Airbrake .. 46 45% 4.->- s 4614 Pressed Stl Car.. .. .. 17'4 17 * Pullman 83% 83% 833s 83>Westingh Air B. . 47% 46% 46* 46% Westing Elec ..173% 171 173 1/3 s Bethlehem 106% 105 105% 105% Colorado Fuel .... 62% 63% Crucible 100% 98% 100% 99 Gulf States St! 60% ... Inland Steel 90 2 Otis 44% 41% 43% 42 Hep Iron k St.l. . 96% 96% 9t>% U S Steel 181% 179% 181% 179% Alloy 45% 45% 45% 45% Your.gstwn Stl ..139 137 139 139% Vanadium Corp.. 85% 85 85% 85 Motors— Am Bosch Mag.. 59% 59% 59% 59% Briggs 34% 34% Chrysler Corp.. 75% 74% <4% .5 Eaton Axle .... 61 60% 61 62 Graham Paige.. 33% 32% 32% 33% Gabriel Snbbrs 26% 2634 General Motors. 75% 74% 75% 75® Hudson 85% 85% 85% 85% Hupp 46 47 V* 47 % 48% Auburn . 327-% 317 317 328*4 Mack Trucks .. 98 97% 97% 98 Marmon 90% 90% 90% 90% Reo 23*4 23% 23% 23% Motor Wheel ... . 42% Nash 84% 84% 84% 85% Packard 132% 131% 132 132% Murray B 92% 91% 92% ... Pierce Arrow .. .. 3D* Studebaker Corp 77*i 77% 77% 77Vi Stew Warner.... 73% 72% 73 72% Timken Bear .. 99% 98% 95 99 Willvs-Overland.. 22% 22% 22% 22% Yellow Coach.... 42 40% 41% 41% White Motor 42% 42% 42% 42% Mining— _ Am Smlt k Rfg. 108% 107% 108* 108% Anaconda Cop ..115% 113% 114% 115% Calumet & H 43% 42% 42% 43% Andes 55 54% 54% 543a Inspiration Cop.. 45% 44% 45% 443* Int Nickel 51% 50% 51% 50% Kennecott Cop.. 85% 84% 85 85% Magma Cop ... .... 69% Nev Cons 47% 47V* 47% 43% Texas Gulf Sul.. 73% 72 72 72% U S Smelt 58% 57% 57% 58 Oils— Atlantic Rfg .... 70% 70% 70V* 70% Barnsdal (At.... 40% 40% 40% 40% Freport-Texas 45% 46% Indp Oil k Gas. 34% 34% 34% 34% Marland OH 34% 34% 34% 34% Mid-Cont Petrol 34 33% 33% 34% Lago Oil k Tr 33 33 V* Pan-Am Pet 8.. 57% 57'% 57% 57% Phillips Petrol 37% 37% Union Oil 48V* 48% 48% 49% Pure Oil 27 26% 26V* 27 Prairie Pipe . . 59 Va Shell 26% 26% 26% 26% Richgeld 42 41'% 45% 42 Sinclair Oil ... 36 35% 35% 36% Skelly Oil 39 38% 38% 38% Std Oil Cal... 73% 72% 72% 72% Std Oil N J.... 56% 56V* 56% 57% Std Oil N Y.... 39% 39Va 39% 39 Texas Corp ... 60% 60% 60% 60% Transcontl 10% 10% White Eagle 34 Industrials— Adv Rumely 38 38% Allis Chalmers .256 249 255% 251 Allied Chemical 311 303 310 305'% Armour A 10% 10% 10% 10% Amer Can 151% 148% 151 148% Am Roll Mill 117% Borg Warner ..119 116'/* 119 118 Am Safety Raz 62% 63 Am Ice 40 % 44 Am Wool 18% 18% Curtiss 163'% 161% 163% 163% Coca Cola 132 130 132 128% Conti Can 74% 72'* 74% 72 Certainteed 24'% Congoleum 20% 20% 20% 20*% Davison Chem .. 49% 49% 49% 49% Dupont 177% 176 177% 174 Famous Players ... 63% 64 V* Fox A 86% 85% 86% 85V* Link Belt 50'% 50'% Gold Du*t 61 60 % 601% 61% Int Harvester ..107% 107 107 107% Lambert 139% 138 138 140% Loews 55'% 54 % 55 % 55 Koister 33 32 33 32'% Montgom Ward .107% 106% 107% 106 Natl C R 115% 115% 115% 116% Keith Radio 31% Radio Corp 87 85% 85% 86% Real Silk 77% 76% 78*% 78 Rem Rar.d 34% 34V* 34% 34% Sears Roebuck .163% 160% 163% 161% Union Carbide. 98% 96 s * 97%. 97% Univ Pipe 12 U SCs Ir Pipe 33% 33 33 34 U S Indus A1C0.180% 180 180 181% United Air Craf* 136% 133 135 135% Wooiworth Cos ..220% 219 219 88 Utilities— Am Tel k Te1...217 216 316% 217% Am E Power 104'% Am Wat Wks. . 138% 135% 138% 137 Brklvn-Manh T .. . 63% 63% Col 'G k E 79% 78% 79% 78% Consol Gas ....123 122% 122% 123% Elec Pow & Lt.. 71% 70V* 70% 70% Public Serv N J.. 103% 102 103% 101 Nor Am Cos 35% 130% 135% 130 So Cal Edison.. 63% 62% 63% 63 Peoples Gas 279 V* United Corp... ... ... 62 Std Gas & E1..118% 117% 117% 119 Utilities Power.. 43% 42% 43% 43% West Union Tel 195% Shipping— Am Inti Corp... 65% 64% 65% 64%

Produce Markets

Butter (Wholesale) —No. 1. 47@48c; No. -. -14 a46c. Butterfat—Lb., 46@47c. Cheese (wholesale selling price per pound'—American loaf, 38c: pimento loaf, 40c; Wisconsin flat, 29c: prime cream, 37c; Daisy. 25c; Longhorn. 25c; New York limbereer. 30c. Ergs—Buying prices: Fresh delivered at Indianapolis, loss oS No. 1. 28c; No. 2, 3c. Poultry (buying prices)—Fowls, 23c: Leguorns hens, 18c; broilers full feathered, 33c. broilers bare back, 23c: Leghorns. 23c; old roosters, large 15&; small 10@13c; ducks. 120,14 c: spring guineas. 30c: turkevs. No. 1 voung toms, 12 lbs. and up. 35 'i 38c: No. 1 voung hens. 25c a lb.; No. 1 told toms, 22025 c; No. 2 old hens. 25® 30c a lb. By United Press CHICAGO. June 25. Eggs Market, steadv: receipts. 25,102 cases: extra firsts. 29 : •'7 30c: firsts. 2S'-3029c; ordinaries. 27 : 28c. seconds, 26c. Butter Market, firmer: receipts, 25.590 tubs; extras. 42’,c; extra firsts. 40'j i41 l ic: firsts, 39 1 29 40 I jc; seconds. 38®39*2c; standards. 42tc. Poultry—Market. firm; receipts. 2 cars: fowls. IS 126 c: springers. 38c; Leghorns. 21@23c: ducks spring). 20026 c: geese. 17c; turkevs. 20 2 30c: roosters. 20c: broilers. 2*® 34c. Cheese—Twins, 21'2@22c; young Americas. 23c. Potatoes —On tracks. 218; arirvals. 47: in transit. 543: market on newstock stronger old dull: southern sacked triumphs. $2 :2.25: North Carolina Irish cobblers, barrels. $8.7504.25: East Shore. Virginia. $4.50; Wisconsin sacked round whites. 50c. By United Press CLEVELAND. June 25.—Butter—Etxars. 43 s 4 j45 J c: extra firsts. 4I 3 043 J c: seconds. 39 3 t;4l’ 4 c. Eggs—Firsts. 29H®30c; ordinaries. 28'jc. Poultry—Fowls. 26 3 27 c: broilers. V' s 43c: Leghorns. 20®21c; ducks • spring l . 30033 c: old cocks. 18c. Other Livestock By Times Special LOUISVILLE. June 25.—Hogs—Receipts. 500: market. 15c lower: mediums and lights. 130-300 lbs up, $10.35211.10; extreme heavies, 300 lbs. up. $10.60: pigs. 130 lbs down. 5708.25; stags and throwouts. $8 1508.75 Cattle —Receipts. 100; market, steadv: prime heavy steers. sl2® 13.50; heavy shipping steers. sll @l2; medium and plain steers. $9.50011: fat heifers. $8.50g13; good to choice cows. s3@ 9.50; medium to good cows. $6.50® 8: cutters. S6O 6.50; canners, $5.50®5.75; bulls, $7 5009 50. feeders. $9.50012: Stockers. $8 50 5 11.50. Calves—Receipts. 300; market, steadv: fanev calves. sl3; good to choice, $10.50g 12.50: medium to good. $7.6009 50; outs. $7.60. Sheep—Receipts, 1,500: market steady, ewes and wethers. $13.50: seconds. sß® 9; buck iambs. $12.50: sheep, $506 Monday's shipments: Cattle, 245. calves. 704: hogs. 135; sheep. 2,388. By United Press FT. WAYNE, June 25.—Calves—Receipts. 75. Hogs—Receipts. 500. Sheep—Receipts. 100; market, steadv to 10c lower; 80-110 lbs.. 10 25; 110-140 lbs.. $10.50; 140-160 lbs.. $10.60; 160-180 lba„ $10.95; 180-200 lbs.. $11.05. 200-250 lbs., $10.95; 250-300 lbs.. $lO 75; 300-350 lbs.. *10.60: roughs. $9.25; stags, *7. Calves—Receipts, 14.50; lambs, sl2.

Atl Gulf kW I 65% 65 65 68 Int! Mer M pfd 47% 45% 45% 45% United Fruit ...119% 118 118 118 Foods— Am Sug Rfg ‘6 * Am Beet Sugar ... .... ... , 1? Kroger 85% 84% 84% 80 Beechnut Pkg 81 ... California Pkg.. ... ... 85 Corn Products .102 100% 102 100% Cuban Am Sug 14% 13% Fieischmann Cos 81% 80% 81% 81 Kraft Cheese .. 47% 47% Nat! Biscuit 187% 187 187 188% Punta Alegre ... 15% Postum Cos .... 74% 73 * 74 74% Ward Baking B 10 9% Tobaccos— Am Sumatra Am Tob B 170% 170% 170% 170 General Cigar.. 71% 70% 71 % 70'/* Li* k Merers... 82 81% 81% 82 Lorillard 25% 25% 25% 25% R J Reynolds. . 54% 54 54 53% Tob Products B. 15V* 14% 15V* 15 United Cigar St 16% Schulte Ret Strs 20 Grand Union.. 45 44% 45 43% Grand Union pfd 44 INDIANA CURTISS FILLS $300,090 AIRPLANEOfiDER Three ‘Ships’ Form First Billing of Huge Contract. One of the largest, if not the largest, airplane orders ever written by a company other than a factory has been entered into between Curtiss Flying Service of Indiana and Interstate Air Lines, Inc., Evansville, it was revealed today by H. Weis Cook, Curtiss general manager. The contract, valued at more than $300,000, provides for Interstate purchasing all its planes for 1929 and 1930 through the Indiana Curtiss Company, with the number of planes required estimated at from fifty to sixty. The contract covers all types of planes distributed by the Curtiss chain, including Sikorsky and Ireland amphibians, Command-Aire, Cessna, Fledgling and Robin. Took Sixty Days The bulk of early deliveries is expected to be Cessna monoplanes and OXS and Challenger-powered Robin monoplanes. The Curtiss company was represented in the contract negotiations by Walker W. Winslow, director of sales, while Colonel W. G. Schauffler, president, and Earl F. Ward, operations manager, represented Interstate. Winslow has spent more than sixty days arranging the contract. The first step in the negotiations was when Winslow took a Curtiss Robin monoplane to Evansville and turned it over to Interstate pilots to demonstrate for themselves. Operate Mail Routes The planes purchased from Curtiss will be used not only for passenger carrying, student training and air mail routes, but the Interstate company also will act as a branch sales base for Curtiss, Winslow said. First delivery of planes under the contract was made this afternoon, when under the direction of Winslow, three Curtiss OXS Robins were flown to Evansville. Other deliveries will be made from month to month. Interstate Air Lines, Inc., a subsidiary of the huge Aviation Corporation, operates the air mail route from Chicago to Atlanta by way of Terre Haute, Evansville, Nashville and Chattanooga, and also the line from Evansville to St. Louis. Arrivals and Departures Hoosier Airport—Harold C. Brooks Travel Air biplane, to South Bend and return, with Louis Schwitzer, 2201 Washington boulevard, as passenger; Tex LaGrone, Waco, Troy, 0., to Kansas City, Mo.; G. Quinn, Troy to Kansas City; Sydnor Hall, Travel Air, Pittsburgh, Pa., to St. Louis. Capitol Airport—Paul Snick, Swallow biplane, Wichita, Kan., to Anderson, Ind.; Dick Dodds, Waco biplane, to Connersville. Mars Hill Airport—Linton Roberts of Missouri and Pacific lines, Travel Air, St. Louis to New York, with E. H. Mcßeynolds as passenger. Light Mars Hill Port Within a few days the Mars Hill airport will be lighted as brilliantly at night as daytime, with installation of a 500,000,000 candlepower B. B. T. floodlight by Transcontinental Air Transport. The huge floodlight, which will be ready for tests this week, will light the entire field for night landings. In addition to the flood light, T. A. T. is installing boundary lights around the edge of the field, to show fliers landing at night where the edge of the field is located, and obstacle lights, with red lenses, to warn of building and other danger spots. With completion of this equipment, the Mars Hill field will be the best lighted airport in this part of the country, according to Charles Devoe, local T. A. T. manager. The lights are being installed by T. A. T. as a precautionary measure in case T. A. T. planes are forced to land after night on the east bound trip. In addition, it is believed, the lights may have been installed partly in preparation for reported plans for the company to operate Pullman planes at night on the transcontinental route. Get U. S. Licenses Department of commerce examinations for limited commercial and transport pilot’s licenses were taken Monday at the Mars Hill airport by a number of fliers. The examining inspector was C. Whitcomb. Among those taking examinations were Harold Barnes, Marion, Ind.: Lieutenant Paul Zartman and Clarence Stillwagon, Indiana national guard, and William Bingerman. Enroll Student Flier Wilbur Gould, Lawrenceville, has been enrolled as a student in the flying school of Capitol Airways.

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HOGS MOSTLY 25 TO 35 CENTS LOWERIN PENS Cattle, Calves and Lambs Sell Off: Sheep Held Steady. June Bulk Top. Receipts. 17. 11.40011.50 11 50 3,500 18. 11.40011.60 11.60 6,500 19. 11.30011.60 11.60 7.500 20. 11.30011.40 11.40 7,000 21. 11.200.11.35 11.35' 5.000 22. 11.40011.45 11.50 2,000 24. 11.40011.50 11.50 6 000 25. 11.150.11.25 11.25 12,000 Hogs were mostly 25 to 35 cents lower in the local stockyards today. The bulk of 160-250 pounds brought $11.15 to $11.25. The top paid was also $11.25. Receipts were considerably higher, estimated at 12,000 and holdovers from Monday’s market totaled 159. Cattle were mostly 25 cents lower. Top beef steers brought $14.75. Vealers were around 50 cents off, selling at $14.50 down. Sheep were steady, but lambs sold about 25 cents off. Top fat lambs were bringing $13.50. The bulk lambs sold at sl2 to sl3. The Chicago hog market opened slow to steady with Monday’s average, but generally asking 5 to 10 cents higher. Bid on 200-230-poujßti averages brought sll.lO to $11.20. Butchers brought SIO.BO to $10.90. Receipts were 20,000, including 1,300 directs, and. holdovers numbered 4,000. Cattle receipts were 5,500; sheep receipts were 4,000. Hog prices today were as follows: 250-350 pounds, $10.50 to $11.10; 200-250, sll.lO to $11.25; 160-200. sll to $11.25; 130-160 pounds, $10.75 to $11; 90-130 pounds, $lO to $10.50, and packing sows, $9 to $lO. Cattle receipts were 1,300; calf receipts were 650: Beef steers, $13.50 to $14.75; beef cows. $8.25 to $11; low cutter and cutter cows, $6 to $7.75; vealers, $13.50 to. $14.50; heavy calves, $7.50 to sl2, and bulk stock and feeder steers, $9 to $12.50. Sheep receipts were 350: Top fat lambs, $13.50; bulk fat lambs, sl2 to sl3; bulk cull lambs, $9 to $10.50, and bulk fat ewes. $4.50 to $6.50. —Hogs— Receipts. 12,000; market, lower. 250-350 lbs I $10,500 11.10 200-250 lbs 11.100:11.25 160-200 lbs 11.00011.25 130-160 lbs 10.75011.00 90-130 lbs 10.000:10.50 Packing sows 9.00010.00 —Cattle— Receipts, 1,309; market, steady. Beef steers $13,500,14.75 Beef cows 8.25 '<! 11.00 Low cutter and cutter cows .. 6.000 7.75 Bulk stock and feeder steers.. 9.00012.50 —Calves— Receipts, 650; market, lower.

13? Utilities Power & Light SB. . Corporation An International Public Utility System The field of this Corporation’s activities The Corporation has been in the forefront covers some of the most important indus- in anticipating the requirements of the territrial, agricultural and residential sections toriesit serves. Each group of electric of the United States power properties in and Great Britain. ~~ _ the American system * . 544 19 4 'u0 * has k een largely interThe territory served in REVENUE - EARNINGS ** if&K connected . Such dethe United States in- <pubik utilities oni y > 1 | , , * * . . * f | velopments are the best eludes 832 ones and H Gross Revenae || guarantee that the towns located in 19 Net Earning* | I Corporation will constates and having a | | . r ,* . u , i t . - „ | | tinue to avail itself or total population of g OOSS ibilities for 2.800,000. Among the 111 possibilities tor cities served with elec I I I g rowth m “ mdustt y tricity or gas are St. §19,995,479 * 4I I whose future holds Louis and Indianapolis. ’ 19 ' 733 ' 589 ||| great promise. The “areas’ in Great 13,225,213 • P In its recently acquired Britain in which the | f§ IS P properties in the British subsidiaries or Utilities 7,329,429 .KS S' 7,630,894 Isles the Corporation Power SC Light Corpor- 3,725,937 . □ MmS If ' ~ estimates it will expend ation supply electricity gj| jf jf_|j gggg withi n the next‘five ' 1922 1929 years upwards of $50,with a population in l 1 ° 00 ’ 000 for new con ’ excess of 3,250,000 and ’ M ‘ ° ”” struction of generating include an important part of Birmingham, one stations, power plant equipment and extension of the great industrial centers, and several large of transmission and distribution systems to sections adjacent to London. The service in provide increased capacity'to meet the growing these ’’areas” is exclusively electricity. demand for power and light in these areas • The sound ftnancud structure upon which the Corporation has planned its growth, its satisfactory and Steadily increasing earnings, and the strategic location of its properties, place the Corporation among the leading public utility organizations and give to its securities an established investment position. Utilities Power & Light Corporation S27 So. L* Salie St 100 Broadway tt We Prosper as We Serve?

Local Wagon Wheat

City grain elevators are paying *l.lO tor No. 2 red wheat and $1.02 for No. 2 hard. Best veals * l3 59 Heavy calves 7.50%.00 —She*t>~ receipts. 300; market, steady. Top fst lambs *l**o Bulk fat lambs Bulk cull lambs 2?S!S'sn Bulk fat ewes 4.aoa 6.50 Other Livestock Bu United Prcsr CHICAGO. June 25—Hogs Receipts, 20.000. Including 1,300 directs; market, uneven. earlv trade mostly strong to 10c higher; top, 311.35 paid very _ sparingly: butcher, medium to choice, 250-350 lbs.. $10.50 0 11.10 ; 200-250 lbs., $10,70 0.11.35; 160-200 lbs., $10.60011.35; 130-160 lbs.. $10.40011.25; packing sows. $9,250 lO.lo; pigs, medium to choice. 90-130 lbs.. SIOO 11.10. Cattle—Receipts, 5.500; calves. 3.000; uneven trade on most Killing classes; light yearlings, weak; weighty steers strong; comparatively little here, best held around. $15.25: slaughter classes, steers, good and choice, 1.300-1.500 lbs.. $140; 15.50; 1,100-1,300 lbs.. $140.15.50: £SO- - lbs.. $13.750 15.50: common and medium. 850 lbs., $11013.15; fed yearlings, good and choice. 750-950 lbs.. $13.50015.50; heifers, good end choice, 850 lbs. down, $l3O 14.75; common and medium. $9,500, 13; 'cows, good and choice, $90;12; common ar.d medium. $7,250.9: low cutter and cutter, $5.850 7.25; bulls, good and choice, beef, $10.250 11.50: cutter to medium, SBO 10.25; vealers. milk fed, good and choice. $13.50 0 16; medium. sllO 13.50; cull and common. SBO 11; stofcker and feeder steers, good and choice, all weights, $12.25013.25; common and medium. $9.750 12.25. Sheep —Receipts, 4.000: market, slow; weak to mostlv 25c lower: native lambs. sl4; few. sl4 25; good to choice Idahos. $14.50; few yearlings, $11.50: fat ewes, steady. S6O; 6.25; feeding lambs quotable steady: lambs, good and choice. 92 lbs. down, $13,750, 14.75; medium. $12,250 13.75: cull and common. $9.50012.25; ewes, medium to choice. 150 lbs. down. $5.5001.75; cull and common, $2.500 5.50: feeder lambs, good and choice, $12.50013.60. Bn United Press CLEVELAND, June 25.—Hogs—Receipts. 800; holdnvers. 92: market mostly 5c higher; 250-350 lbs.. $10.90011.65; 200-250 lbs.. $11.40011.65; 160-200 lbs.. $11.45011.70; 130-160 lbs.. $11.500 11.75; 90-130 lbs.. $11.500 11.75: packing sows. $9.2509.75. Cattle Receipts. 200: market cows, steady. Calves—Receipts, 350; market, vealers unchanged: beef cows. SBO 9.25; low cutter and cutter cows. $6.2507.50; vealers, sl4 0 16. Sheep—Receipts. 400: market, 250 50c lower: top fat lambs, steady: bulk fat lambs. $140.14.25; bulk cull lambs, $12013: bulk fat ewes, [email protected]. Bit United Press PITTSBURGH. June 25.—Hogs—Receipts, 450: market, steady to lower; 250-350 lbs., $11011.75: 200-250 lbs.. $11.50011.90: 160200 lbs., $11.750 11.90; 130-160 lbs.. $11,250 11. 90-130 lbs, $11011.50: packing sows, s9® 9.75. Cattle—Receipts. 50; marker steady. Calves—Receipts. 75: market, fully steady: beef steers. $l3O 14.65: light yearling steers and heifers $11014.50; beef cows. $8®11; low cutter and cutter cows. S6O 7.50; vealers. $l3O 15.50; heavy calves, SIOO 14. Sheep—Receipts, 250; market, lower: top fat lambs, sl4; bulk fat lambs, $12014.50: bulk cull lambs, $7010: bulk fat ewes, [email protected]; bulk yearlings, s9Oll. Bn United Press EAST BUFFALO. June 25.—Hogs—Receipts. 800: holdovers, 700; market, strong. 10c higher: 250-350 lbs, [email protected]: 200250 lbs, $11.50011.90: 160-200 lbs, $11,750 11.90; 130-160 lbs, $11.65 011.90 ; 90-130 lbs, $9.750 10; packing sows, $9.75010. Cattle —Receipts. 75: market, steady. Calves— Receipts. 200; market, steady; beef steers, $l3O 14.25: light yearling steers and heifers. $13.75® 15.25; beef. 10® 10.50; low cutter and cutter cows. $5.7508; vealers, $15.75016.50. Sheep—Receipts, 100: market. steady; bulk fat lambs. $13.50014.50; bulk cull lambs. $9.750 12; bulk fat ewes. $5,750 6,50: bulk yearlings, $9.50®%1. NEW*YORK COFFEE RANGE —June 24High. Low. Close. January 13.81 13.81 13.81 March 13.65 13.60 13.65 May 13.32 13.32 13.32 July 14.96 14.95 14.96 September 14.50 14.45 14.45 December .. 13.99 13.96 13.99

WEATHER NEWS GAINS WHEAT SMALLAOVANGE Corn Prices Irregular: Oats Unchanged to Higher. Bn United Press CHICAGO, June 25.—The change to clear weather in the southwest, where harvesting of the winter wheat crop is just getting under way, tended to offset the continued dryness in Canada and the Dakotas, so that futures opened only fractionally higher today. Corn and oats were firm as wheat recovered from Monday's late profit-takir g. At the opening wheat was % to % cent higher, corn was % cent lower to 1 1 cent higher and oats were unchanged to Li cent higher. Provisions were little changed. Since Drought conditions in the' Canadian spring wheat territory have become one of the strongest factors in the world’s trade, bull sentiment is no longer limited to American markets. During the past few days Liverpool and Buenos Aires have led Chicagc to higher ground, reversing a situation of many months standing. In spite of the reports of unsatisfactory crop progress in sections of the corn belt, where any further delay may result in frost damage next fall, traders are by no means unanimously bullish and long grain comes out freely on the bulges. While visible supplies showed an increase for the past week, the amount was small considering the heavy recepits during the period. Northwestern houses have been selling the July and December oas deliveries of late, but the takings of the July by cash houses keeps the market within a very narrow range. Chicago Grain Table —June 25 WHEAT— PrevOpen. High. Low. 12:00. Close July.. 1.15% 1.15% 1.13% 1.14% 1.145* Sept.. 1.20% 120% 1.18% 1.19% 1.19% Dec... 1.25% 1.25% 1.24 1.24% 1.245 a CORN— July.. .92% .93 .91-% .92%’ .92 s * Sept.. .93% .94% .92% .93% .93% Dec... .905* .91 % .89% .90% .90 OATS— July.. .44% .44% .44% .445* .44% Sept.. .44% .44% .43'% .44 .44% Dec... .47'* .47'/* .465* .4694 -47 RYE— July.. .88% .88% .87% .88% .88% Sept.. .92% .92% .91% .92% .92% Dec,. .96% .97% .96% .97% .97’/* LARD— Oct, 12.40 12.42 12.37 12.42 12.42 Dec 12.33 12.40 By Times Special CHICAGO. June 25.—Carlots: Wheat, 90; corn. 314; oats, 69; rye, 1.

The City in Brief

WEDNESDAY EVENTS P. E. O. Sisterhood. stt convention all day. Irvington Presbyterian church. Kiwanis Club luncheon. Claypool. Jnior Chamber of Commerce luncheon. Chamber of Commerce. Lion* Club luncheon. Lincoln. Purdue Alumni Association luncheon, Severin. . lilini Club luncheon. Board of Trade. Judgment on a SlO.OOfl war risk insurance policy is asked in a suit filed in federal court by Calvin Carney. Muncie veteran. Although he was totally disabled while in the service and was given a disability discharge in 1918. he alleges, the government has refused payment of $57.50 monthly. John Mellett. author of "High Ground,” "Chain Lightning” and other books, addressed the Gyro Club at the Spink-Arms at noon today. Plans were announced for the tri-city golf tournament at the Avalon Country Club Thursday in which players from the Cincinnati and Dayton Gyro Clubs will participate. Occupation of new display rooms by the American Radiator Company at 900 North Senate avenue has been ' announced. The company was formerly located on the street floor of the Board of Trade building. The new site also serves as an office and warehouse. Charged with transporting liquor Cleo Lownsbury and Wilson Winters. both of Muncie, Ind., today faced federal grand jury investigation. They were held to the jury under $4,000 bond for Lownsbury, a second offender, and $2,000 for Winters, by John W. Kern, United States commissioner. Swimming, horseshoe pitching and a picnic dinner afforded entertainment for employes of Kruse Radio. Inc., at the annual picnic Monday at the home of E. L. Kruse Sr., president, northwest of the city. Mrs. Kruse was assisted in entertaining the guests by Mrs. P. A. Bell and daughter, Miss Florence Bell. W. T. Marlindale, director of organization for the Indiana Farm Bureau Federation, has gone to Lake Minnetonka, Minn., to act as dean at the fourth annual farm bureau training schools. L. L. Needier, sec-retary-treasurer, is scheduled on the program. Methodist Episcopal ministers of the Indianapolis district and their families attended their annual picnic Monday in Garfield park. Mrs. O. W. Fifer, wife of the superintendent of the Indianapolis district, presided at the dinner. Bishop Edgar Blake of the Indiana area was the principal speaker.

PAGE 13

BISHOP MAY TELL IN COURT OF STOCK BEALS Evidence in Case Reveals $40,000 Account Without Putting Up Cash. NEW YORK. June 24.—Developments in the bankruptcy hearing of Kable & Cos., indicated today that Bishop James Cannon Jr., who bought stock through the defunct company, might be called as a witness. Decision on whether Cannon will be summoned will be made Wednesday, when Harry L. Goldhurst, a partner In Kable & Cos., will return to the witness stand. At the hearinfi Monday, Goldhurst went Into some of the details of Cannon's stock market transactions, revealing that the bishop had given the firm permission to use its discretion in buying stocks for him up to $40,000. Bishop Paid for Stock Goldhurst was questioned by Edward Benoit, attorney for the receivership department of the Irving Trust Company. Goldhurst told Benoit it was a "mistake” in bookkeeping which caused the attorney to intimate that the bishop had been able to buy SIO,OOO worth of stock without putting up any money. Goldhurst denied Cannon's account was intended in any way to be used as advertising. He said the bishop placed orders for stock by telephone, letter and in person, and explained he had consulted with Cannon here and at the latter's office in Washington. Charles W. Kable was pictured at the hearing as a figure-head who drew a salary of $75 a week to lend his name to the firm. Kable is due to be examined today. Goldhurst testified that the nature of the business was to sell stocks on the partial-payment plan with twelve monthly payments. Brokers Indicted He admitted he might have opened Cannon’s account on credit, but said he would have to consult all the firm's books before he could be sure of that point. The “mistake” to which Goldhurst referred was an entry on the books that showed Cannon had bought 100 shares of Lehigh Valley “Nov. 2 as of Aug. 14.” After studying a photostatic copy of the entry for some time, Goldhurst said he believed the “as of Aug. 14” was a mistake.