Richmond Palladium (Daily), Volume 45, Number 87, 21 February 1920 — Page 8

PAGE TEN

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, SATURDAY, FEB. 21, 1920,

MARKETS

WAGNER GRAIN LETTER CHICAGO, Feb. 21 Corn and cats lower on poor domestic and export demand. Chicago corn receipts very email but consumers are going slow. Cash corn one to four points lower, oats, one to two lower. Much bear news a carryover from Friday but the ease of cash com in face of small arrivals at Chicago is a new factor. Liocal bulls are discouraged and eay the rally may not come before the late session Tuesday.

CHICAGO GRAIN RANGE Furnished by E. W. WAGNER & CO., 212 Union National Bank Building. Phone 1720. CHICAGO, Feb. 21. Following 'is the range of futures on Chicago Board of Trade today: Open High Low Close Rye. May 156 158 155 156 Corn. May 1321,4 132 130 130 July 128 129 127 127 Oats. May 78 78 77 78 July 71 71 70 71 Pork. May 34.50 34.25 Lard. Way 21.12 20.80 Ribs. Kay 18.40 18.20

GRAIN PRICES (By Associated Press) CINCINNATI, O., Feb. 21 Wheat Ho. 1 red. $2.452.46; No. 2 red, $2.42 2.45; No. 3 red. $2.34(5)2.38; Other grades as the quaity, $2 2.27; CornNo. 2 white, $1.581.59; No. 3 white, $1.631.65; No. 4 white. $1.511.53; Corn No. 2 yelow, 1.54 1.56; No. 3 yelow. $1.501.52; No. 4 yellow, $1.46 1.48; Corn No. 2 mixed, $1.531.55. (By Associated Press) CHICAGO, Feb. 21 Corn No. 3 mixed, $1.411.42; No. 3 yellow, .$1.44 1.44. ,Oats No. 2 white, 8586c; No. 3 white, 8485c. Pork, nominal; Ribs, $17.2518.25; Lard, $19.80.

(By Assoclitsd Press) CINCINNATI, O., Feb. 21 Receipts Cattle 250; hogs 2,000; sheep 111. Cattle Market quiet and steady; steers, good to choice $11 12; fair to good $9(gll; common td fair $6S; heifers, good to choice $9.50 11.50; fair to good $8 9.50; common to fair $68. Cows, good to choice $8(59; fair to good $6.508; cutters $5.50 6; canners $45. Stock steers $6.50 10.50; stock heifers $6.50 8.50; stock cows $5.25 6.50. Bulls steady. Bologna, $79.25. Fat bulls, $9.25 10. Milch cows, weak, $50$115. Calves Steady; good to choice, $20.1521.00; fair to good, $14.00 20.50; common and large, $6.0013.00. Hogs steady, market 25c higher; heavies $14.5015; good to choice packers and butchers $15 15.25; medium $15.2515.50; stags $7.508.50. Common to choice heavy fat sows, $9 11.50; light shippers $15.25; yigs, 110 pounds and less, $1014. Sheep Steady, good to choice $10

10.50; fair to good $710; common to fair, $46; bucks $48. Lambs, slow, good to choice $19.5020; seconds $15 18; fair to good $18 19.50; common to fair $1214.

try Steady; springers, 42c; hens, 37c; turkeys, 35c. .

LIBERTY BONDS (By Associated Press) NEW YORK, Feb. 21. Final prices on Liberty bonds today were: 3 1-2 96.04 First 4 90.70

Second 4 90.40 First 4 1-4 91.10 Second 4 1-4 90.80 Third 4 1-4 : 92.94, Fourth 4 1-4 91.00

Victory 3 3-4 97.70 Victory 4 3-4 97.70

(By Associated Press) CHICAGO, Feb. 21 Togs Receipts 8,000; Market higher; Bulk, $14.00 14.75; Top, $14.90; Heavies, $13.85 14.30; Medium, $14.2014.70; Lights, $14.5014.90; Light lights, $14.25 14.85; Heavy packing sows, smooth, $12.7513.40; Heavy packing sows. $12.1012.5; Pigs, $13.251460. Catte, receipts, 1,000; compared with a week ago; steers at above 1,350, unevenly 22 cents to 75 cents lower; others mostly steady; butchers cows and heifers, about steady; canners 25 cents lower; boolgna bulls good quarter higher; Calves mostly 25 cents lower; stockers and feeders 15c40cents high er. Sheep receipts, 4,000; compared with a week ago; good prime fat lambs, 2550 cents higher; others little changed; fat sheep and yearlings 25c 75 cents higher.

up, average, to 200 lbsassorted, 200

$14.2515.25,

(By Associated Press) TOLEDO, Feb. 21 Cloverseed Prime cash and Feb.. $35.30; Mar., $34.80; April, $34.20; Oct., $25.75. Alsike Prime cash and Mar., $35.00. Timothy Prime cash, 1917 and 1918. $6.50; 1919, $6.70; Mar., $6.75; Apri $6.72; May, $6.67. LIVE STOCK PRICES (By Associated Press) INDIANAPOLIS. Feb. 20 HOKS

Receipts, 4,500, steady. Cattle Receipts 300, steady. Calves Receipts 400, lower. Sheep Receipts 100; steady. HOGS.

Good mixed, 150 lbs $1415; assorted, 150 average $15.25 15.50; tn MS lhu iin. avflrarfi.

selected, 275 lbs. up, average $13.50 13.75; fat hogs weighing down to 130 lbs., $14.7515.00; fat back pigs, under 130 lbs., $15.00 down; feeding pigs, $14.50 down; sows, according to quality, $11 12.75; poor to best stags, 80 lbs. dock, $10.00 12.50; bulk of sows, $12.0012.50; sales in truck market, $13.75 15.50, light pigs, 14.50 down. CATTLE. Killing steers, Extra good, 1,300 lbs. and upward, $12.7513.00; good to choice, 1,250 lbs. and upward, $12.25 12.75; common to medium, 1,250 lbs. $11.7512.25; good to choice, 1,100 to 1,200 lbs., $11.0011.75; common to medium. 1,100 to 1,200 lbs.. $10.50 11.25; good to choice, 1,000 to 1,100 !bs., $10.0010.95; common to medium, 1,000 to 1,100 lbs., $9.0010.00; fair to good, under 1,000 lbs., $8.509.50; good to choice yearlings, $10.00 $12.00. Heifers Good to best, 800 lbs., and

up, $9.75 10.50; common to medium, 800 lbs. up. $S.509.50; good to best, under 800 lbs., $10.00 11.00; common to medium, under 800 lbs., $7.00 $10.00. Cows Good to best, 1,050 lbs. upward, $9.00 10.00; common to medium, 1,050 lbs., $8.00 8.50; good to best, under 1,050 lbs., $8.009.50; common to medium under 1,050 lbs., $7.50 8.00; canners and cutters, $5.00 $6.50. Bulls Good to best, 1,300 lbs., upward, $9.00 9.50; good to choice, under 1,300 lbs., $8.50 9.25; fair to viedium, under 1,300 lbs.. $7.75 8.25; common to good bolognas, $6.50 7.50. Calves Good to choice veals, under 200 pounds $18.50'fj20; common to medium veals, $11.00 14.00; good to choice steers, under 800 lbs., $9.50 common to medium heavy calves, $7.009.00. Stockers and Feeding Cattle Good to choice steers. 800 lbs. and up, $10.00 10.50; common to fair steers, 800 lbs. and up. $9.0010.00; good to choice steers, under 800 lbs., $9.50 10.00: common to fair steers, under 800 lbs., $8.009.00; medium to good heifers, $7.00 S.00; medium to good cows, $6.00 7.50; good to choice milkers, $110150; fair to medium milkers, $75$100; stock calves, 250 to 400 lbs., $7.0010.00. SHEEP AND LAMBS Good to choice sheep, $9.00 9.50; western fed lambs, $19.0021.00; c;ood to choice lambs. $18 18.50; common to medium lambs, $14.0017.00; good to choice yearlings, $13.00 15.00; common to medium yearlings, $10.0012.00; bucks, per 100 lbs., $7.00 S.00. DAYTON MARKET Corrected by McLean & Company, Dayton, Ohio. Bell Phone, East 28; Home 81235 DAYTON, O., Feb. 21 Hogs Receipts 3 cars, steady; 2550c higher; choice heavies. 240 lbs. upward, $14.50; 1 -J knthnra CI 4 AAlRIi TK'

light Yorkers, $14.5015.00; pigs, $13.0014.00; heavy Yorkers, $15.00; stags, $8.009.00; choice sows, $11.50 12.00; common to fair, $11.50. Cattle Receipts 8 cars; steady; fair to good shippers, $11.0012.00; pood to choice butchers, $1011; fair to medium butchers, $9.0010.00; fair :to good heifers, $910; choice fat -cows, $89; fair to good fat cows, $6.507.50; bologna cows, $5.00 Z.50; butcher bulls, $9.0010.00; bologna bulls. $S9; calves $1217. Sheep Receipts, light; market, steady; sheep, $5.009.00; lambs, $12 15.00.

(By Associated Press) EAST BUFFALO, Feb. 21 Cattle, receipts 250; slow, steady; calves, receipts 400, $1 lower; $622.50; few $23.00. Hogs Receipts 8,800; slow; steady to 25 cents lower; heavy $14.50 15; mixed, $15.2515.50; yorkers, $15.6015.75; light do and pigs $15.75; roughs $1212.50; stags $8 11. Sheep and lambs, receipts 4,400; steady; lambs $1321.50; yearlings $1219; wethers $15.5016; ewes $6 14.50; mixed sheep $14.5015.

(By Associated Press) PITTSBURG, Pa., Feb. 21. HogsReceipts, 1,500; market, lower; heavies, $14.2514.50; heavy and light Yorkers and pigs, $15.5015.75. Sheep and i.ambs Receipts, 200; market, steady; top sheep, $15.00; top lambs, $22.00. Calves Receipts, 50c; markel, steady; top, $21.00.

PRODUCE MARKET (By Associated Press) CINCINNATI. Feb. 21. Butter fat

Steady. Eggs Steady; prime firsts

53c; firsts, 4951c seconds, 48c. Poul-

NEW YORK STOCK LIST (By Associated Press) NEW YORK, Feb. 21 The closing quotations on the stock exchange were: American Can, 45. Am. Smelting, 63 5-8. Anaconda, 59. Bethlehem Steel "B" 88 5-8. Chesapeake and Ohio, 57 3-8. Chino Copper, 37 1-4. General Motors, 250 1-4. Goodrich Tires, 70 1-8. Mexican Petroleum, 179 1-2. Pennsylvania, 43. Reading, 76. Studebaker, 88 1-2. Union Pacific. 121. U. S. Steel, 99 3-8. Utah Copper, 73 3-4 bid.

LOCAL QUOTATIONS (Furnlshsd by Whelan)

nuTinu i OatB, 90c; rye, $1.60; straw, per ton, $9.00; new corn, $1.50 per bushel.

Cottonseed Meal, per ton, $83.50: per cwt, $4.25; Oil Meal, per ton; $88.00;

cwi., .oo; lanaage, owo, per ton, $102, per cwt. $5.25; 60 percent, $117 per ton. cwt, $6.00; Quaker Dairy Feed, per ton, $56.50; per cwt, $2.90; Salt, per bbl., $3.00. Wheat bran, per ton, $52; cwt, $2.70; Bran and shorts mixed, per ton, $53; per cwt.. $2.75;

xJure wheat middlings, per ton. $61.00; per cwt.. $3.15; standard middlings, per ton, $58.00; per cwt., $3.00.

LOCAL GRAIN MARKET Richmond flour mills are paying $2.33 for No. 1 Red wheat; $2.30 for No. 2; $2.26 for No. 3; No.-4. $2.16.

LOCAL HAY MARKET Steady No. 1 timothy, $30.00 31.00; clover, $32.0033.00.

BUTTER FAT QUOTATION Butter fat delivered in Richmond is bringing 63 cents this week.

If you are sure' that nothing will stop you, nothing can stop you.

FRUIT & VEGETABLES (Furnished by Eggemeyer's.) LOCAL PRODUCE Beets, 10c bunch; leaf lettuce, 30c lb.; head lettuce; trimmed, 40c lb.; dry onions, 10c lb.; parsley, 15c bunch; green mangoes, 5c each; garlic, 75c lb. cabbage, 10c lb.; egg plant, 25o lb.; celery, 20c a bunch; green beans, 25c a pound; spinach, 2ffc lb.; sweet potatoes, 10c lb.; rutabagas, 6c lb.; turnips, 10c lb.; Spanish onions, 15c lb.; shallotts, 15c lb., 2 for 25c; new turnips, 20c bunch; white radishes, 5c bunch; red radishes, 15c bunch; Brussel sprounts, 40c quart; caulllb.; cucumbers, 35c each; Irish potatoes, Cc lb. Eggs, 60c dozen; creamery butter, 75c lb.; country butter, 60c lb. Turkeys, 65c lb. Fruits. Bananas, 12c lb.; lemons, 40c doz.: apples, 10c lb.; chestnuts, 50c lb.;

fresh cocoanut, 25c; walnuts, 10c lb. Malaga grapes, 60c lb.; grape fruit, 10 and 15c each; oranges, 45c doz.; tangerines. 60c doz.; strawberries, $1.00 quurt; rhubarb, 30c lb. Produce, Buying. Country butter. 50c lb.; eggs. 60c doz.; old chickens, 30c lb.; frying chickens, 30c. lb.; turkeys, 45c lb.

"Selfishness" of Labor Is Denounced by Preble Farmers EATON. O., Feb. 21 Arbitrary demands of trade unions were denounced

in resolutions adopted at a farmers' institute this week in Lewisburg, Preble county, held by an association

of farmers of Lewisburg, Harrison

township, and vicinity. The resolu

tions were adopted without a dissent ing vote, it is said.

They declared: "We believe that the arbitrary demands and selfish mo

tives of the trade unions of the country are inimical to the best interests

of the fanner ana tne government, uu, therefore commend the attitude of the National Grange toward these organizations." The association elected these officers for the year: President, R. E. Bunger; vice president, Roscoe Snyder; secretary, C. D. Roberts; treasurer, F. O. House. The executive committee is made up of Mr. and Mrs. Charles Stockslager and Mrs. W. N. McNutt.

! WOMEN WILL OPEN

OFFICE. IN WASHINGTON (By Associated Press) CHICAGO. Feb. 21. Congressional loviolntlva heart nuartem of the

'League of Women Voters will be esitablished in Washington immediately 'under direction of Miss Maude Wood

irtUK. OI DQBIUU Jl nuivuuvcu m-

I riflV.

PUBLIC SALES

48

PUBLIC SALE rarm sold, I will, sell at public sale at my residence, 4 1-2 miles northwest of Lewisburg, 3 1-2 miles southeast of West Manchester, and 1 1-4 miles south of Twin Creek Chapel Church, on the Township Road, on WED., FEB. 25, '20 . The following property, to-wit: 3 HORSES 40 HEAD CATTLE 150 HEAD OF HOGS FARMING IMPLEMENTS 9-16 Heider Tractor, almost as good as new, with 2 bottom plows. Ford truck. Some hay in the mow ; corn in the crib; oats in the granary. Gasoline engine, line shafting, pulleys, belts, wrenches, barrel churn, cream separator, power washing machine, 4-burn-er coal oil stove, with oven, crocks and many other articles not mentioned. Rale begins at 9:30 o'clock sharp. Terms announced sale day. Everything offered will positively be sold, as this is a clean-up sale.

ORA LoEIKENBERRY Glenn Brown and Ilden Bunger, clerks. Dave Williams, auctioneer. Stand let.

PUBLIC SALE

On the Clyde Watt farm 5 miles southwest of Centerville, 4 miles cast of Milton on the angling road, IVi miles south of Hiser's Station, on - WEDNESDAY, FEBo 25, 1920 AT 12:00 O'CLOCK 3 HEAD OF HORSES 3 Team of blacks, weight about 3,000 pounds, sound and good workers. One dark iron gray, 6 years old, broke to all harness. 10 COWS 10 10 good fresh cows and close up springers. 49 HEAD OF HOGS 49

34 Shoats weighing from 40 to 100 lbs., 5 brood sows consisting of 3 full blood Durocs and 2 mixed sows, four of these sows are due to farrow last week in

April.

FARMING IMPLEMENTS

We have a full line of farming implements; also 1 good set of breeching har

ness, l goon set or buggy harness, 1 good set of hip strap harness. HAY AND GRAIN 300 bu. of corn In crib, 3 tons of good timothy hay.

CLYDE WATT, FRED G. JACKSON

ABERT HINDMAN. Auctioneer.

OSCAR KERLIN. Clerk.

PUBLIC SALE

Having sold my farm I will offer at public auction on the Mikesell farm, 3

miles north of New Paris and 1 miles south of Braffetville on THURSDAY, FEBo 26, 1920 At 10 o'clock a. m. promptly

4 HEAD OF HORSES 4 One brown mare, 7 years old, weighs 1300; 1 bay

horse 8 years old, weighs 1300; 1 brown horse, 9 years old, weighs 1400; 1

black mare in fold, 7 years old. These are all good workers. 14 SHOATS WEIGHING FROM 75 TO 125 LBS. ONE FOUR-YEAR-OLD JERSEY" COW, GIVING MILK

FEED AND STRAW 500 bushels assorted corn; 4 tons bailed clover hay; 4 tons of bailed timothy hay; 10 tons bailed straw. IMPLEMENTS AND TOOLS One 2-horse wagon; 1 good truck spring wagon; 1 rubber tired buggy; 1 platform bed; 1 gravel bed; 1 disc harrow; 1 three-section harrow; 1 two-section harrow; 1 spring tooth harrow; 1 fiveshovel cultivator; 1 spike tooth cultivator; 2 corn plows; 2 steel breaking plows; 1 Gale sulky plow; 1 fertilizer corn planter; 2 one-horse wheat drills with fertilizer attachment; 1 five-ft. cut mower, almost new; 1 tobacco setter; 4.000 tobacco lathe; 1 tobacco sprayer; 1 lot muslin for hot beds; 2 bar shear plows; 1 large tank for hauling water; 1 hay fork and ropes; 3 A hog houses; 2 small hog feeders; 2 large iron kettles; 1 dinner bell; 1 22-ft. extension ladder; lot hedge posts; 1 piano box, 1 ton fertilizer. HARNESS One set brass mounted breeching harness; .1 set breeching harness; 1 set hip-strap harness; 1 double set carriage harness, new; 2 sets single harness; collars; bridles; lines and many other articles too numerous to mention.

Lunch will be served on grounds. Terms made known on day of sale-

HENRY Co BULLERDICK

OMER PLATT. Auct.

CHAS. JORDAN. Clerk

Free Service

VICTOR RECORDS ON APPROVAL BY PARCEL POST PREPAID The most satisfactory way to buy Talking Machine Records. Send in for a trial list, keep them 48 hours, and return those not wanted by parcel post prepaid. We only ask that you keep at least one-third of those sent. We have one of the most complete stocks of Records in the United States. Store open every evening.

FREE The new, complete Victor Record Catalog sent Free with your first order. Walter B. Fulghum 1000 Main St. Phone 2275 Richmond, Ind.

In accordance with the announcement of Mr. J. Ogden Armour. President of Armour and Company, made in this paper yesterday, the Armour Leather Company is offering its stock for public subscription. Allotments will be made in the order of receipt of subscriptions, and as promptly1 as possible after February 25th, 1920, after which date no subscriptions will be, accepted. The steck is offered subject to the privilege of subscription to the holder of the preferred stock of Armour and Company now outstanding in the hands of the public.

Armour LeaftQuer Compaimy

(OF DELAWARE)

$10,000,000

7 Cumulative Preferred Stock

(Par Value $100 per Share)

$10,500,000 Common Stock (Par Value $15 per Share)

Dividend on Preferred Stock payable quarterly, January 1, April 1, July 1, and October 1. First dividend payable April 1, 1920, will be for month of March only. Callable, as a whole or in part, at the option of the Company, at 115 and accrued dividends. DIVIDENDS EXEMPT FROM NORMAL FEDERAL INCOME TAX

TRANSFER AGENT: (Both Preferred and Common Stock) Continental and Commercial Trust and Savings Bank, Chicago, III.

REGISTRAR: (Both Preferred and Common Stock) First Trust and Savings Bank, Chicago, III.

The Armour Leather Company has been organized under the Laws of the State of Delaware, and will acquire all of the tanning companies and leather assets now owned by Armour and Company at figures which do not include any value for good will. The gross volume of business in 1919 was approximately $90,000,000.

CAPITALIZATION

7 Cumulative Preferred Stock ($100 par)

To he immediately issued and outAuthorized standing $25,000,000 $10,000,000

Common Stock ($15 par) $15,000,000 $13,000,000 Founders' Stock (no par value) shares 100,000 fl00,000 $4,500,000 Common Stock is reserved to be offered to employees and customers of the Company. tThe Founders' Stock will be subscribed for and acquired by Armour and Company, who will pay $5 a share for same. The Company will have no bonds outstanding and covenants not to permit the creation of any mortgages or liens upon the present property of either the Company or the companies whose stock the Company is about to acquire, without the consent of the holders of two-thirds in par value of the Preferred Stock outstanding at the time. Net assets, based on valuations of November 1, 1919, will be $25,500,000, equal to $255 per share of Preferred Stock outstanding. Net quick assets will be $16,043,564, which is equal to $160 per share of Preferred Stock outstanding. Additional Preferred Stock can only be issued to an amount equal to 73 of the cost of extensions, additions, betterments and improvements and of new property acquired, and then only provided earnings for a period of twelve months have been at least three times the amount required for dividends on all Preferred Stock outstanding and the new stock to be issued. The Company agrees to maintain at all times, net assets equal to at least 200, and net quick assets equal to at least 125 of the par value of all Preferred Stock outstanding. Earnings available for dividends, after Federal taxes, during the last fiscal year were $6,195,824; average annual net earnings during the last four-year period were $4,483,215. Thus, net earnings for the last fiscal year were over eight times, and average earnings of the last four years were in excess of six times dividend requirements on present issue of Preferred Stock. After preferred dividends, the remaining surplus earnings shall be available for dividends on the Common and Founders' Stock, in equal aggregate amounts. For a period of three years dividends on the Founders' Stock shall be limited if earnings are less than $4,000,000. After providing for dividends on the Preferred Stock, the earnings for the last fiscal year were equivalent to 18.3 on the Common Stock (this after deducting an equal aggregate amount on the Founders' Stock), and the average annual net earnings during the four-year period were 12 6 on the Common Stock on the same basis. The officers and directors of the Company will be principally those who have been engaged in the operation of the companies now being acquired, and who have in a large measure been responsible for their growth and development.

APPLICATION WILL BE MADE TO LIST BOTH THE PREFERRED CHICAGO STOCK EXCHANGE

AND COMMON STOCK ON THE

All legal proceedings approved by Messrs. Mayer, Meyer, Austrian and Piatt, Attorneys, Chicago; Balance Sheet and Earnings certified to by Price, Waterhouse & Co., Chicago; Appraisals made by American Appraisal Co., Milwaukee.

Price in blocks

$100 par value, Preferred, 1 Share. $105 par value, Common, 7 Shares

$200 per block

(This is equivalent to price pf $95 per share on Preferred Stock and $15 per share on the Common Stock) f Subscriptions, accompanied by initial payment of 10, will be received , on behalf of the Company by Continental and Commercial Trust and Savings Bank, Chicago or Bankers Trust Company, New York Fiscal Agents who will on request furnish copies of a letter from the Company giving detailed information, which can also b obtained at the various offices of Armour and Company.