davidaulloa/AmericanStories huggingface dataset:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
BRISK TRADING
MARKS SHOW
OF CONFIDENCE
Industrials Oils and Motors
Conspicuous in Improved
Positions.
DIVIDENDS EXPECTED
Special to Indiana Daily Times
and Philadelphia Public Ledger.
BY MONITOR.

BY MONITOR.
NEW YORK, June 3.-The stock
market Friday was characterized by
brisk trading In which some Of the In
dustrials, oils and motors were conspfc-
uously strong, with the rails doing little
or nothing. and disappointed liquidation
made Its appearance in isolated issues.
The aggregate Of transactions was close
to million and three quarters, and the
general tone of the market bespoke con-
fidence.
Expectations Of dividend announce
ments or increases shared with merger
developments, in the incentives for buy
Jig. The action Of Midvale served as a
reminder thar sonnet hing more than con-
solicitations are needed TO put prices up
and keep them there. Republic also was
under pressure, but rallied better than
Its chief associate In the merger.
United States Steel took the leadership
of the industrial group. with an advance
to the new high level OF 103. Aside from
the general improvement IN the steel
Industry, there was no news to account
for the strength unless Ii might be Judge
Gary's testimony before the Lock rood
III ItltLtIGe u ppsitlbu
of the big corporations and its policy
toward its competitors.
Speaking from the standpoint OF
groups. the oils made the best showing
although the advances in certain issues
appear to be due to special influences
The strength OF California Petroleum
which advanced more than seven points
was based on gossip in connection with
dividends. Associated Oil. Pacific, Mary
land, Royal Dutch, Mevican Petroleum
and Houston We're among the other ac-
tive petroleum shares. The prolongation
of the coal STRIFE undoubtedly has
strengthened the position of the leading
oil companies, particularly those IN
shape TO supply fuel oil.
Among the strong srecialties were
Freeport, Texas. Postum Cereal. Hy
draulic Steel. ]. Kayser. Glidden Com
pany and Dupont The rails aid little
or nothing. with the exception OF some
Of the specialties in this group. such as
Peoria & Eastern and Rutland pre-
ferred.
There were numerous outside news fea.
lures. The first cotton condition report
OF the season showing 500 was not con
sidered bearish. as It does not Indicate
crop equal 70 the worlds consumptive
demands Announcement Of further nc
tion in regard to wages is expected from
the railway labor board Sterling adj
yanced TO the highest level reached since
July, 1919.
The weekly statement OF the Federal
reserve system shows a gain in ratio 70
the basis OF IS, which is within four
tenths OF a point OF the high record
reaehed on March % This gives fur
Their evidence OF the satisfactory money
situation and bears out the belief that
the previous days furry In call money
was due to loca! and temporary causes.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Business Failures
Are on Decrease

NEW YORK, June business failure
IN the United States during April NUM-
bered 1,948. the smallest total Of any Of
the last four months, according to the
Commercial and Financial World
From the peak of 2,722 reported in Jan-
uary there was drop of 2s per cent, but
the aggregate is still large, being 80 per
cent above the total Of April last year.
Bradstreet's. In summary Of the situa-
ton, says the total number Of failures
for the last month marks a decrease Of
per cent from the short month Of
February, but it IL over four times the
total rolled up in April, 1910, low water
mark year in business casualties. Liabil-
tiles for April were s72,553, 740. and in
crease Of 20 per cent over March and 43
per cent over April year ago. but de-
crease OF 81 per cent from the total for
January. As for over a year past, the
South leads in number Of failures. re-
porting 5S3, or % per cent Of all, in April
this year, as against 431, or sos per cent
Of all reported in April year ago."
Failures for the four months OF 1922
number 9,o59. an increase Of ~ per cent
over the total for the like period of 1921
and Is per cent over the first four months
Of 1915. Liabilities for the first four
months Of this year total 500. 763, SAT, an
increase Of 1913 per cent over the hitherto
record total for that period set up in
1921
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Stock Market ReUielD

NEW YORK, june 3.-Prices still
moved up on the New York Stock Ex-
change today under the influence of grow
ing optimism over the business outlook.
Whenever the forward movement in the
general list was threatened by profit
taking new groups We're started on fresh
upward swings, SO that industrial stocks
forged steadily ahead through out the
two hours Of trading.
This proof of latent buying power was
the best possible demonstration of the
markets underlying strength.
So long as individual groups displayed
ability to move toward higher levels, 1t
is evident that the forces behind the ad
vance has not been exhausted.
While the price movement in the rail
stocks has been characterized by some IT.
regularity, trading in this group has
not been without signs Of accumulation.
1t would be surprising IL tho rise in
the general market was checked without
rounding out movement In carrier As
sues
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Business Outlook
for Year Is Good

A comparison Of the conditions under
which the United States entered the year
1922 with those OF the corresponding
year Of the preceding century Is such
as to give US renewed confidence IN the
industrial and commercial future or our
country, says the Trade Record" of the
National City Bank Of New York.
The population. which IN 1922 was less
than 10000, 600, Is now better than 1G7,-
COO 600, or more than ten times that Of a
century ago, while the population of the
world. as a whole, has Increased but
about $50 per cent in the meantime.
Our international commerce. even in tho
present moment Of depression, is sixty
times as much as that Of century ago,
having grown from S109. 900 In 1921
TO nearly $1,000 100000 in 1921, while In
ternational commerce of the world in 1921
totals forty times that Of a century ago,
Nheu II stood at 81 $50 100000.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03

sets of the company. This company ex-
perienced difficulties at the outset In
asmuch as it attempted to bring out
new and EXPENSE car at time when the
general depression. Nearly $1,000, 900 in
bank loans have been made and In ad-
dition the Nash Motors Company has al
vanced to Lafayette about $oOO In re-
turn for which Nash has received about
so per cent Of the Lafayette common.
Commission houses here have turned
very bullish on Glidden as result OF
the closing Of contracts with Ford ana
with the Anaconda for varnish supplies
and whereas market gossip has been
placing the earnings at the rate of about
S. per share on the common, this esti-
mate has been nearly doubled.
Electric Storage Battery Is selling in
new high ground for the current year on
the general hope that dividends on the
new common may soon be inaugurated at
the rate of 81 per share. Directors OF the
company will meet on June to con-
slider the dividend question, and, while
no policy has been outlined as yet, 1t is
generally regarded as logical that 81
should be expected.
May copper sales are now believed to
have been from 200,000,000 to 210.000,000
pounds. of which about 10000, 0OC pounds
were for export and the balance for do
nestle consumption. This is the largest
single months business since March,
1870, when a total of 32oooo.o0o pounds
were sold
Merger Of the Atlas Truck Corporation
and the Selden Truck Corporation is
about complete and 1t Is hoped that these
two companies will form the basis for a
combine. which will take the same place
in the motor truck world as Is occupied
hy General Motors in the passenger car
field The organizers Of this combine are
low negotiating with six other companies.
The basis for the consolidation is the de-
sire to avoid the top heavy overhead and
duplication which now exists in the motor
truck field.
Stndphaker worked into new high
ground following the statement by A. K.
Erskine. president Of the company. to the
effect that May business broke all pre-
vious records Production for the month
amounted to 1888 cars, with sales Of
about II .o1e cars. Collections were ST.
COO 900 During May, 1921. sales amounted
to but 1888 cars.-Copyright, 1922, by
Public Ledger Company.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
(By Thomson & McKinnon.)


New highs in the stock market have
been OF such frequent occurrence that 1t
attracts no attention such as 1t did here
tofore.
Trading continues on large scale. and
the public. being in a friendly and re-
ceptiye mood, Is prepared to follow every
suggestion and ready to change from one
promised.
Merger" is now the magic word 1t
is playing as important part as stock
dividend" did III the last big market.
There are, however, some other sub
jects that we should consider at this
time, because to ignore everything but
favorable points may lead to overconh-
dence, which is always a dangerous ele-
ment In every undertaking.
The Administration at Washington Is
seriously concerned about the coal strike
Suppose the strike continues several
months longer. Can you realize what
the consequences will be and the effect
upon nations business.
In Europe. the old problem is again
presented by the position taken by tho
French government with regard to a
the bankers conference may be as I'M
fruitful OF results as was the Genoa con-
ference.
And then We have the technical situa-
ton in the market, which was created
by the constantly expanding public ac-
count. This phase is, as Is usually the
case, ignored and Will he until a selling
day comes when all realize the impur
lance OF IT,
Taxing into consideration everything
favorable and making fun allowance for
1t We are forced to The conclusion that
more than usual caution Is now neces
sary.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
INDIANAPOLIS PRODUCER

stock, 16Q17c Poultry-Fowls. l8023c
leghorn fowls, 15c; broilers1& to 21a h.
size, 4Dc; broilers under ~ lbs, 35c /,
leghorn broilers at discount; cocks, 13c !:
stays 13c: young hen turks. lbs and
IN, Csc: old tom turks, 23c; young tom
turks, IL lbs up, use: Gull thin turkeys
not wanted; ducks, lbs and up, 16@17c
geese. 10 lbs and up, 12c; squads, Ii lbs
70 dozen, $4,000: old guineas. per dozen.
So
Butter-Local dealers are paying S5d
38c per ID for butter delivered in Inii-
annapolis
Butterfat-Local dealers are paying 35c
per Id for butterfat delivered In Indi-
annapolis.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
SWINE 5 TO15
CENTS HIGHER
Cattle Receipts Very Light
-VeaIs Strong.
RANGE or HoG PRICES

With receipts only 5000 and the de-
nahds Of both shippers and packers good,
swine prices were u 15c higher IN trad
ing on the local livestock exchange today.
Trading was active, and all of the re-
ceipts had been sold before the close of
Ike forenoon
There WAS top OF s10S5 on light
swine, at which there were q fair number
Of sales. while the bulk Of the sales fer
the duy were made at $lU75 There were,
however, q few sales OF heavy sT inc a.
$loG5
Cattle prices were about steady, with
receipts around 1870 and spectators about
the only active buyers,
Yeats ware strong generally, with re-
ceipts light at 1eJ, the quality good and
TIE shipping demand good Thers was an
extreme OF 81 los. while the practical top
for the day was Sill,
Their We're only 100 sheep and lambs on
the market, ard the quality was poor
Prices were weak.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Nebraska Association
Wins Bull for Prize

WASHINGTON, Juno 3.-The prize
bull offered by a breeder Of purebred
cattle near Lincoln, Neb., to the first CO.
ganized in Nebraska has been won by
Saunders County, where an association
has Just been formed. according to the
Department of Agriculture.
When the Saunders County Bull Asso-
citation incorporates, or is ready for
business. it will be given tho prize Dull
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Springfield Rotary
Kills Sweet Adeline

SPRINGFIELD, Ill. June 3.-Sweet
Adeline Is no more-insofar as Spring field
Rotarians are concerned.
Having become too closely attached to
that well-known verse the club decided
on Its demise. One Of the members
dressed as Sweet Adeline' entered
meeting TO bid an affectionate farewell
before being shot" An undertaken
placed the body on funeral truck while
minister delivered a touching sermon
over the remains. Sweet Adeline' was
laid away never to be revived.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
In the Cotton Market

NEW YORK, June 3-The cotton mar
ket opened quiet today with trading
mixed and prices points higher to !
point lower.
Wall Street was buyer to cover short
ages.
Commission houses sold. and spot
houses bought July, but sold October.
The weather showed signs Of clearing
over the entire cotton belt.
New York cotton prices-July, 20.ooc;
Auguts. 90 TIC; October, 205Sc; Decem
Der 2o39c; January, 2017c; March. 1o.96c;
May 19S6e.
The cotton market closed fairly steady,
being points lower to points higher.
Cotton Futures
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
CHICAGO PRODUCE.

CHICAGO, June -Butter-Receipts,
Fl, 731 tubs. creamery extras. S5c; stand
19L6 2oLac. Eggs-Receipts, q, 13l cases;
current receipts. 22iaG23c; ordinary
frsts, 2112G22c; lrsts, 23g23Ac; extras.
CSC: checks, zoe: dirties, 20G201ac. Live
23c; chickens, 23l2c;
springers, 23G3sc; ROSTERS. lie; geese, II
d25c; ducks, 2oI30c.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
ro,rno srFn .,p GRaIS.

TOLEDO. -une 3.--C1overseed-Cas
$3.50 October. Sis; December, s1l 90.
Aletke-Cash, Sft5o; August. sii1o; &c
fnhar. Sill 20 Timothy 30; Sep
temher 50 Is; October $40. Wheat--
cash 81 70: July, Si,25; June. s1.ls Corn
Cash, 63is ma8iac 0ats-Cash. 42ds 4ic
Rye-Cash, 9Tt9c Barley-Cash, Csc.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
(By Thomson & McKinnon).

Wheat-Each day brings more fatter-
ing reports of the outlook for the new
crop Of wheat, and each day sees no
improvement in the export or milling
demand. As consequence, liquidation
of holdings has been general and on a
liberal scale. Nothing whatever was
heard today of rust in the Southwest.
On the contrary, the market was con-
fronted with selling by Southwestern
houses, some of 1t attributed to hedging
against purchases of the new crop. 1t
was estimated that the Chicago market
bought around 100000 bushels Of new
wheat to arrive from the country. Ex.
porters were inactive. owing to the holi
day abroad. Buenos Aires market closed
Sc lower yesterday, poor demand be-
ing featured in the cables from there.
Estimates of the Kansas crop range from
100000 900 to 10000, 600 bushels. and 1t
was said that one authority, in casual
conversation, intimated 140000,0 GOO bush
hand that there probably Will be no
adverse crop news Of any Importance.
on the other hand, the market will be
compelled to accept hedging sales against
the new crop. and, unless there Is a
material Improvement In the export de-
mand there Is not likely to be good
support. The situation, at the moment.
suggests further decline.
Corn and Oats-There being no de-
yeldpments In either corn or oats to
stimulate the demand and the weather
being construed rs favorable, the weak
ness in wheat induced liquidation In
both corn and oats. Values were sus-
ccptible TO selling because OF the lack
If outside interest and the unimportant
demand from cash handlers These mar.
kets are in need OF something stimulat-
ing, which Is not 10 be foreseen at tho
moment.
rrovisons--The material increase In
warehouse Accommodations OF lard and
meats for the month Of May are pot re-
ilected In the market action. as II is be-
lieved these accommodations are well held
Todays market has been particularly
inactive. such little selling as there was
being taken by packers
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
HAY MARKET.

The following are the Indianapolis
prices for hay, by the wagon load, de-
iivered In indianapolis:
Hay-Loose timothy, S1S@20; mixet
hay. S1SG19; baled hay, SlsQ19.
Oats New, per bushel. i2@45c.
Corn-Both old and new. per bushsl,
630l6Sc.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
NEW YORK BANK STATEMENT.

NEW YORK. June average Leans,
increased $50. SOS $50. demand deposits IN
creased SO .91S.po; time deposits, iJ
creased 81, S93,ovo; reserve Increased,
So $50, go ActIal-Loans. increased
$4T,0es3 900; demaua deposit decreased,
s.. ga 900. time deposits. increased SI2,-
6640Oo; reserve. iucrea sed $soiI,75p
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
CLEVELAND PRODUCE.

CLEVELAND, June 3-Butter-Ex.
tras, 401aM41c; prints. ALL @42c; firsts,
301a @40c packing stock, 17@19c. Eggs
Fresh, 271.c; Ohio frsts. 241ac; Western
firsts, 24c Poultry-Live fowls, 27Q2Sc
ROSTERS. 16@1Sc; broilers. 35Q45c:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
TWENTY STOCKS AVERAGE.

NEW YORK. juno 3.--Twenty In
dustrial stocks Friday averaged
e8-36, up .S3 per cent. Twenty active
rails averaged S5.I4, OF 90 per cent.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
WEATHER CONDITIONS.

" III hfh11' OO-NDh1 1V-N5.
Since Friday morning showers have oo-
Cured in tho eastern States, In Texas,
and In a belt along the Mississippi River,
but elsewhere throughout the country the
weather has been generally fair. The
temperature changes have not been de-
cided over large areas, and tho readings
are now moderate for the season In most
districts.
CORN AND WHEAT BULLETIN.
For the twenty four hours ending at Z
a. m, Saturday, June 3. 1922:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
wuoIrsaIE REFF PRICES.

The following are today's wholesale
prices for beef cuts sold on the Indi-
annapolis markets Of Swift & Co.: Ribs
No. 9. lie; No. 8. lac. Loins-No. 2, 23c;
No, 8. l9c Rounds No. 2, 15c; No. 8,
lac. Chucks-No. 2. 10c: No. 5. &c. Plates
No. ., 7c: No. 3. &c.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
INDIANAPOLIS CASH GRAN.


Bids for car lots Of grain and hay at
the call Of the indianapolis Board Of
Tr"t1n wore.
Whcat-Easy No. red, s1o461 251a
&, u 'aSv No white. COL. ms1 lac :;
No. white. 800 @ooi5c; No. yellow,
59lamGoac. No 4 yellow, 5S1a6f sole !:
No mixed 5S959c: No. mixed, 579
5Sc
Oats-Easier; No white, 4oG4o1ac;
No 3 white. 3Sz M39c.
Hay-Steady: No, 1 timothy. $4,000
20; No. timothy, S1911930: No. / light
clover mixed. s1s.5o@l0; No. / clover,
so0021.
inspections
Corn--No white / car: No. 8 white
10 cars: No white. 13 cars; No. 8
white cars; No. white. l car; sam
pie white. 1 car; No. 2 yellow. cars ;
No yellow, II cars; No yellow. II
cars: No yellow, s cars: sample gel
low, cars: No 3 mixed. ! car; No.
mixed. 1 car; No. mixed, 1 car; total,
II cars.
oats-No white. cars: No. s white,
20 cars No. white, . cars; total, "a
cars.
Hay-Packing hay, car.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
WAGON wHEAr PRICES.

Indianapolis -four mills and elevators
yesterday were paying SILT per tusrei
for No. ! red winter wheat; S1.15 for No
2 red winter and according to test for
No red winter.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
WALL STREET GOSSIP
Special to Indiana Daily Times
a nd Philadelphia Public Ledger.
nv MONITOR

NEW YORK. June 3-rnited States
Steel common made an immediate aud
natural response TO the testimony before
tho Lockwood commission as outlined in
the morning papers Admission by lead
ing steel men OF the commanding posi-
ton occupied b. the United States Steel
Corporation was responsible for a buy
ing wave, which carried the common
stock 70 103. despite tie fact that Ii was
only last Monday that Steel common
sold e1 dividend IA points.
Burns Brother "A" is working into
new high ground as reaction TO the
recent move In the 'R'' issue. The al
vance 10 new highs for the latter was
based on the generally believed rumor
that the stock was TO be put ca a ~
stock has priority of $ per share OVER
the 'R' stock, this would naturally
pre- suppose a Si2 dividend rate for
the Il.
Hydraulic Stee! Il developing a good
market following here ana In local COM
mission house circles orics of 20 or
better Is mentioned as the goal for the
recent sale of the Canton plant to the
United Alloy Steel Company relieved the
Hydraulic interests of an unproftabie
operation. AT the same time Il also
/
with Spicer Manufacturing Company
may be announced In the very near fu-
tQFe.
6dying of Freeport stock again called
attention to the situation existing IN the
bonds which, advance y points on each
point gain in the stock. The bonds
moved 26 points higher yesterday with
good class OF buying In evidence.
Atlantic Coast Line is favored among
the high class rails on the general theory
that this issue should at least hold Its
own with Louisville 81 Nashville. Sup
port for Atlantic Coast IS coming from
interests which have recently been ac-
tive in the Industrial groups.
special meeting Of the stockholders
of the Lafayette Motors Company will
be held IN New York on June ~. to con,
slider and act upon the authorization of
the sale OF all Of the property and as
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
CLEARING HOUSE STATEMENT

NEW YORK. June 3--Exchanges,
$500. 600 900; balances, 5000, on0; Fed.
eral Reserve Bank credit balances, $59,
900, 600
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
STOCKS SUSTAIN
LATE DECLINES
California Petroleum Suffers
Loss of 4 Points.

NEW YORK, June 3.-The market
closed irregular today.
California Petroleum sold down to CT, a
loss Of nearly points.
United States Steel held steady around
1921
Burns Brothers (B) was a strong fea-
ture, moving up nearly points to 1875.
Baldwin Locomotive reacted over ]
point to below 116.
Great Northern was in supply, falling
2 points to .51a. Royal Dutch reacted IA
poi-,ts 20 651a.
Government bonds were unchanged and
railway ard other bonds. irregular.
Stock sales for the day were $40, 100
shares; Tor the week, 8,445, 900 shares
Boz. sales for the day were Sc, S43, 900 j;
for the week, $63 ,41O, 900.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Money and Exchange

Indianapolis bank cI-arings Satur-
day were So. S54. go and for the week
ending saturday, $3.50 400. Bank
debits Saturday were S5.32s. 900 and
for the week ending Saturday, S2S,-
$4,000.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
BOARD OF TRADE STATEMENT.

The weekly statement Of the Indianapo-
lis Board of Trade showing the output Of
-four by local mills, inspections for the
week and stock in store, follows:
a A
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Weather

The following table shows the state of
the weather at a. M, June 3, as OBJ
served by u. s. Weather Bureaus:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03
Fowler & Eaton

We have cash customers for groceries.
rooming houses and other business prop
critics
sol City Trust Main ss7i.
FOR SALE-Two gooa business places;
grocery stock and fixtures: reasonable
terms. Call D-eIei sie9.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-03

A special meeting Of the stockholders
of the Lafayette Motors Company will
be held IN New York on June ~ to con.
slider and act upon the authorization Of
the sale OF oil Of the property and as