davidaulloa/AmericanStories huggingface dataset:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
1rEArHER CONDITIONS.

Since Saturday barOmetric depression
has moved in from the northwest, and
now extends in the shape of trough
from Lake Superior sOuthwestward over
Iowa and Kansas to the southern Rocky
Mountain States, with pronounced cen
ter in the latter region. SOutherIY winds
in it's front have caused decidedly warm
err weather from the Great Lakes to the
Gulf of Mexico. with cloudy and I'M
settled conditions. Temperatures are
above freezing in the central valleys as
far north as middle Iowa and southern
Michigan. but readings below zero are
again reported from middIe-western
Canada the lowest being 20 degrees be-
low zero at BattlefOrd. Sas. Scattered
snow hurries have occurred in the north
ern Rocky Mountain region, and rains 10
the southwark and westward.
At p. IN. Monday snow cover of
from > to II inches lay over most of the
northern border States. with patches as
far south as northern Illinois and south
ern Michigan.
INDIANA HIGHWAYS
Abundance of sunshine and absence of
precipitation improved highways some
what, but freezing weather was unfaV-
orable. In southern districts all high
ways except the more improved are in
poor to bad condition on account of re
cent washing and overflow, and some
stretches along the Ohio River are closed
In other portions of the State improved
highways are mostly good, while unim-
proved are fair to poor.
j. II. ARLINGTON,
MeteoroIogist, WeatheE Bureau.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
RECESSIONS HIT
STOCK MARKET
Violent Selling Movement Is
Direct Cause of Losses.

NEW YORK, Jan. "a vigorous sell
ing movement on the stock market today
caused sharp recessions in practically the
entire list The losses ranged from
to over 6 points.
Intense nervousness over the financial
situation, due to the Wagner failure last
week and the Chicago banking troubles,
which resulted in the TT. Dearborn abb
sorption and rumors of other stock ex
change suspensions contributed to the
decline.
The passing of the Kelly Springfield
dividend on the common issue, the reduc-
ton in Pennsylvania crude oil and acute
weakness in the grain market were other
factors. The passing of the Kelly Spring
field stock dividend broke that issue over
6 points to 365s.
The oil shares were among the weak
est nthe list, Standard Oil of New
Jersey, Standard Oil of California, Hous-
ton Oil, Mexican Petroleum and Texas
Company dropped from to over
points.
Studebaker, which had been strong. in
the early trading, Joined the decline,
selling down from S4A to, 81.
Some of the steel industrials were
under heavy pressure Steel common fell
nearly , points to S23s and Baldwin Loco
motive nearly 4 points to 943s.
Government bonds were unchanged.
and railway and other bonds weak.
Total sales of stocks for the day were:
JOO,lUo SudLcS' DOIIuS' A1'oAO'OO''
(By Thomson & MckinnOn)
Judging from the early action of the
market, the public evidently did not re-
gard the morning news in serious way.
as the market was fairly good during
the early part of the session.
There was some irregularity, but there
were lust as many prominent issues
showing Improvement as declines and 1t
was some little while before the pubic
and traders began to realize that what
occurred in the Chicago banking circles,
was a matter of major Importance and
not to be ignored.
II is true that the ability of other banks
to quickly absorb the one in dltdcultles
prevented what might have been a spec
tacular demonstration. nevertheless, the
mere fact that there was need for help
is sufficient to put us on our guard, Tor
what assurance have we that there are
no more commercial or financial instltu-
-tions Ill similar circumstancc=e
Evidently this thought prompted some
liquidation. which gradually increascd
until it developed as weak q market as
we have experienced in a considerable
period And the selling was not as here
fofore. largely professional, but to very
great extent came from commission
houses and represented liquidation by
the public.
Technically. the market was in an I'M
favorable position as we have had prac-
ticallv a continuous advance since the
first of September with only minor reae-
tions during that time.
We are inclined to view the present
setback in the market as something other
than a temporary reaction.
We feel that the recent developments
have placed a check on bullish enthusiasm
and it will require a little time, as well
rs further irreguarity to place the mar
l1et in a suitable position to warrant the
RESUMPTION Of the upward movement.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
OUTLOOK FOR
YEARS STEEL
TRADE is GOOD
Mills Expected to Resume
Operations During Coming
Week.
JAPAN BUYS TIN PLATE
eial to Indiana Daily Times
!. 4 l. =. IL 4

Special to Indiana Daily Times
and Philadelphia Public Ledger.
PITTSBURGH, Jan. 3.-The iron anu
steel trade closed the year with very light
demand and a low scale of operations
Both were the lightest the last week
since July.
Many of the plants that have been
closed over the holidays Will resume
early in the week. The general expecta-
ton is that not much activity will devel-
OPP until along about the middle of jan
uary. Fairly steady operations are eX-
pected after that, as in the meantime the
mills will have had chance to accumu-
late orders.
In some quarters it is the opinion that
December contraction in business does
not reflect reduced demand SO much as
the desire of buyers to have deliveries de-
ferred until January. The mills are not
taking a gloomy view of the situation, as
they expect jObbers and others who have
withheld purchases during inventory
taking to re-enter the market with the
opening of the new year and close for a
respectable tonnage. This buying VIII
probably be confined to the replenish-
ment of depleted stocks, as it is likely
that caution will continue to actuate the
policy Of consumers until a general
freight rate reduction has been made. In
so far as prices Influences the volume of
demand there should be heavy buying Of
steel products. As a matter of fact, there
y
the last three months from a tonnage
standpoint, closely comparable with the
demand in good years before the war.
Some pig iron activity developed in
the East and in the Chicago district, but
there has been little here. All grades are
somewhat weaker. In foundry, a buyer
inquired for q moderate tonnage and got
1t at 81 a ton below the nominal mar
ket as previously quoted and establish
ing new price of $3.50 for Valley.
This does not make 4 new low point,
however, for the market was at $3.50
from about the middle of July to the
middle of August, an advance beginning
at that time.
Old contracts for pig iron are practical
ly all completed, so that consumption in
future will involve fresh purchases. The
market is quotable at $50 for Bessemer,
$40 for basic and $40 80 for foundry iron,
f. o. b. Valley furnaces, freight TO Pitts
burgh being $196, against 20 cents
twenty years ago.
Structural steel men and fabricators
find that a very encOur3 ging volume of
building work will be placed in the
early months of the new year and fair
amount continues to 80 under contract.
While most Of the ear work is com
ing from Western roads Eastern lines
are now preparing to enter the market.
Japan is reported to have purchased
$4,000 boxes of oil stock tin plate and
from another source it is reported that
the country has bought $4,000 boxes
of tin plate, most fof the business going
to the Steel Corporation. Japan has
also been buyer of sheets.-COpyrigh
1921, by Public ledger Company.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
Other Livestock

CHICAGO, Jan. 3-Hogs-Receipts,
- O00; market, barely steady to Il cents
lower; lights and light butchers off
mostly; bulk Of sales, S6.75d7.35 top,
Sc -; heavies, $6.65d69O; mediums. $3.50
mT25; lights, S715@7.20 uight lights,
81 7jM635; packing sows, r0ughs $5.5OGr
SO; pigs, S7.J0mS25. Receipts.
600; market, steady to % cents lower !;
beef steers, strong to 25c higher other
grades. steady Beef steers, choice and
prime. SS.S0m10; medium and good. $3.50
40; good aud choice, $S25Ml0; common
and medium. $4,000 20. Butcher cattle
Helfcrs, S3.G0MS; cows, $3.50 6.25; bulls.
So 75dG Gamers and Cutters-Cows and
heifers, $2.2J@S3.25; Gamer steers, $S04;
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
SWINE VALUES
RULE STEADY
Good Heifers and Steers
Str0ng-Ca,ves Lower.
RANGE OF HOG PRICES.

With fresh receipts around 5000 and
1000 held over from the opening Marker
of the new year, the principal local
packers displaying only a fair demand
and the demand of the shippers good
swine prices were generally steady IN
trade on the local live stock market to-
day. There were few sales or SWINE
however, at prices that were 20 cents
lower than the top price of the market
of the previous day, while there also was
a similar number of sales of heavy swine
at slightly higher prices early.
Interest slackened some after the open
ing hour of trade, but practically all the
receipts had been sold before the close Of
Light swine sold at s8GS25; pigs at
about the same range; mixed and medium
swine at S7.50@775 and heavies at
$76E.50 The bulk Of the sales for the
day ranged at S7.35M7.75.
Trade in cattle was fairly active, with
the packers showing fair demands, and
prices ruled steady to strong generally:
There were, however, few sales OF good
steers at prices that were 10 to 15c higher
and a similar number of sales Of good
heifers at values that were about Toe
above the level of the previous days
values. Bulls were in fair demand at
steady prices as were cows, Gamers and
cutters.
Receipts for the day ran close to 700
and I've bulk of the cattle were of me
dunn 20 fair grades.
CAFES were soc to 81 lower, with re-
ceipts approximately 500, the quality fair
to good and the demand poor. There was
n top of $3.50 on choice veals early in the
trade, but before the close best calves
were selling at around $1I5O612 The
bulk Of the choice veals brought S11Q
115G.
Sheep values were steady and lambs
steady 10 50c higher, with receipts ex-
tremely light at 100, the quality good and
the demand fair
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW YORK LIBERTY BONDS.
CHICAGO PRODUCE

CHICAGO, Jan. 3.-Butter- Receipts,
LOO tubs; creamery extras, $50; tirsts,
31W37c; packing stock, 10000. Eggs
Receipts, 10000 cases; current receipts,
CROSSE; ordinary frsts, 54@36c; checks,
2SG3Oc; dirties, 3OQ32c. Cheese-Twins
new 1912c; daisies, 19h@20c; YOUNG
Americas, 2OAc; longhOrns. 20Ac; bricks,
17&c. Live poultry-Turkeys, 3Sc
Ice; geese, zoe; ducks, 2Gc. Potatoes
Receipts, u cars; Wisconsin Round
Whites, 81 6O@1.85 per 1J0-lb. bag; Min
nesotas and Michigans, $1.600LIj; Ida
hos So
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
GRAINS SUFFER
SHARP DECLINES
Chicago Bank Merger Said to
Be Chief Factor.

CHICAGO, Jan 3.--Wheat sustained
sharp declines on the Chicago Board of
Trade today. Prices fell off more than
any time in weeks. Other grains aud
as did wheat. Announcement of a Chi
cago bank merger was attributed as the
cause of the slump.
May wheat opened at S11415. off CSC,
and closed off 61ac. July wheat opened
at $103A. off &c, and closed sac lower.
May corn opened at 532sc, off &c. and
closed off &c. July corn opened at
545sc. off &c, and closed off 11sc.
May oats opened at 3S12c, off Ac and
closed 114c lower. July oats opened at
39lke. off &c. and closed &c lower.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
TNDIANAPOXrs PRODTrCr

Butter-Local dealers are paying. 40m
Ale per Id. for butter delivered in Indi-
Eggs-Loss off, 47c. Butter-pack-
ing sock, lie. Poultry--FOwls, 1G@23e !:
springs, 19c; cocks, 11@12c; stays 13c i,
Young hen turkeys, lbs. and M, 39r.
young tom turkeys, u lbs and up, 3Sc !,
old tom turkeys. 33c; Gull thin tHr,
keys not wanted; ducks, lbs and up
los; ducks, lbs. and up, 1Sc; geese 10
lbs. and up14c; rabbits, drawn, per
dozen $3.50: squads, II lbs. to dozen. &c :
young guineas, 2-lb. size, per dozen, 81
as; old guineas, per dozen, IS.
Butterfat--Local dealers are paying
42c per pound for all butterfat delivered
In Indianapolis.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
CIEVEIANn pRnnrCE

CLEVELAND. Jan. 3.-Butter-Extra,
in tubs, 4G12@47c; prints, 47h@4Sc; ex-
ira firsts 45l&@ Acc; frsts, 44hM45c; sec
onds. 37@37hc; packing stock, 2314 q
2412c. Eggs Fresh gathered, northern
extras, 49c: extra firsts, 4Sc; Ohio tirsts.
new cases. 45c; old cases, 44c; western
frsts, new cases, 43c. Poultry-Live.
heavy fowls, 29@3Cc; spring culls. 23@
CSC; spring ducks, 32c; turkeys 3S@43c,
Observation-Disclosures $3.50 for l50-lb. bag /;
Early 0hios, s1.90 for 120-lb. bag. Sweet
potatoes $40 per hamper.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03

white, 10 cars; No. white.
car; No. / yellow, 1 car; No vel
low, cars; No. yellow, 10 ears; No. 4
yellow, 20 cars; No. yellow, cars;
No. 6 yellow, 3 cars No. mixed. cars:
No. mixed, cars; No. mixed, cars;
total, so ears.
Oats-No. white, cars; No white,
Is cars; No. white cars; sample
white. cars; total, 20 cars.
Hay-NO. 1 clover mixed, 1 car.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
INDIANAPOLIS CASH GRAIN.

jan. -
Bids for car lots of grain and hay at
the call Of the indianapolis Board OF
Trade were:
Wheat-NO sales.
Corn-Easier; No. 3 white. 4S15d49Isc:
No. 1 white, 47n64SEc5 No. 3 yellow,
Az @4S13c: No. I yellow, 4664T1zc; No.
mixed, 4612G47l&c; No. mixed, 45l5
@47c.
Oats-Easier; No. 2 white, 36G37Iic
No. 3 white, 3jG36c
Hay-Steady: No. 1 timothy, ST.. J06
IS; No. timothy. S17617.50; No. 1 light
clover mixed, Si65OG17; No. 1 clover,
$1,000.
inspections
Wheat-No. 8 red. l car.
Comm. 3 white, II cars; No.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03

LIVERPOOL, Jan. 3.-Cotton was in
fair demand at the opening today. Prices
were steady and sales around 5000 bales;
American middlings fair, HID; good
middlings, 1244d; fully middlings, 12.04d;
middlings, 11.69d; low, 10.49d; good or
binary, S94d; ordinary, sold.
Futures were steadyA during initial
trad de.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
CHICAGO GRAIN TABLE.
CHICAGO CASH GRAIN.

CHICAGO, Jan. 3.-Wheat-No. . red,
S1.12A; No. . hard yellow. S1O5q 1O5la :;
No. hard S1m15; No. hard yellow,
81 O3lt No mixed. s14. COrn-No. .
mixed, 461&64Tc; No. white. 47c; No. .
yellow. 461; G4TAc; No. 5 mixed. 1914
4Glzc; No white and No. 3 yellow. asa
46i5c No. mixed, 44G454c; No. 4
white. 44045c; No. yellow. 446452c
Oats-NO. white. 3503GHc; No. 3 white,
3215 634c; No. 4 white 32Mc.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW WORK METAL MARKET

NEW YORK. Jan. 3.-Copper-Easy
spot, 1875 @131ko; January and March,
12K013 Lead-Steady; spot and jan
nary offered, 455c FebTrqary ana March G6
January offered. 4.S71Ac; February and
March offered, 1922.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
In the Cotton Market

ANEW YORK, Jan. 3.-The cotton mar
. opened firm today on favorable Liver
cables, good demand from English
Il M ~ tinehtal houses, moderate trade
10 bullish reports from the
:zs s advanced from 10 to %
4 " the upturn was lost later under
v southern wire houses and spot
&t the undertone remained steady.
! ~ ork opening cotton prices Jan
zT19 pc; March, 1920; May, 1890 !;
s& 1916; October, 1850.
lie market was weak in the late deal
~. Heavy selling final prices showing
~ losses of So to 70 points.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW YORK. COFFEE.

NEW YORK. Jan. 3.-Coffee values
ruled steady in trade on the exchange
here today, opening options being to Z
points higher. Rio No. Z, on spot, sold
at "a 09%c per pound.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
Money and Exchange
Indianapolis bank cIearings today were

NEW YORK, Jan. 3.-The foreign ex-
change market opened weak today with
demand Sterling 14c lower at $42l "a y;
cables and SO3c for checks. Lire cables
were 424c; checks, 4.23c. Belgian franc
cables were 7.56c; checks, 1850. Marks
were 0053Hc Guilders cables were
$4,000: checks 36.SSc. Sweden kronen
cables were 2t9Sc; checks, 24.93c.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW YORK HIDES.

NEW YORK. Jan. 3.-Hide prices were
rm on the market today. Native steer
hides sold lat 15Ac and branded hides
at 1jc.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
roIEnn SEEn ppIcEa

TOLEDO, Jan. 3-ClOversecd-Cas
$14; jan 1861; February. 1910; March,
S13.20: April, $12G1. Alsike-Cash. $40;
February and March. s11.5O. Timothy
Cash and January, $3.12h; February,
$3.1T4a bid; March, 1925.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW YORK RICE

NEW YORK Jan. 3.-Rice values held
steady in trade on the market here to-
day domestic selling at 81 Q7Ac per
Mound.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
TOLEDO GRAIN PRICES.

TOLEDO, Jan. 3.-Wheat Cash, S113G
116: May. Sis; July. $1.04. Corn-Cash,
50dj1c oats-Cash, 39G41c. Rye-Cash
SEE. Barley-Cash Ole.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
Weather

The following table shows the state of
the weather at n. m. Jan. as oh.
served by u. S. Weather Bureaus:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
TWENTY STOCKS AVERAGE.

NEW YORK, Jan. 3.-Twenty indus
trial stocks last Saturday averaged Sl.1O,
up 50 per cent. Twenty active rails aY-
eraged 1927, up Al per cent.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
NEW YORK CALL MONEY.

NEW YORK, Jan. 3.-Money-CAI
money ruled per cent; high 5i3 per
cent; low. ) per cent. Time rates steady,
SASH. Time mercantile paper, steady
Sterling exchange was quiet, with bust
ness in bankers bills at $4.20A for de-
mand.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03

CLEARING HOUSE STATEMENT.
NEW YORK, Jan. 3.--Exchanges, $3.50,
700 .OGO: balances, $71.900 900: Federal Re
serve Bank credit balance, $50, 2OO,0UO.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
HAY MARKET.
(By Thomson & McKinnon.
nHfsETna-c

The following are the Indianapolis
prices for hay by the wagon load. &C.
lveIed:
hay, S15@I6: baled hay. .S1T01S.
Oats-Bushel new, per bushel, 32935c.
Corn-Old, per bushel, 54Q 60c.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-03
New York Bonds

(By Fletcher American Company
Jan. 3
FOREIGN GOVERNMENT BONDS,
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-03-30

of that year, operators insisted that
the big company be made to respect
the scale and the unions failure to
induce the company to do so was fol-
lowed by the miners of the Pittsburg
district being called into convention.
By resolution the convention declared
all operators should be treated alike
and it reduced the price cents ton
to meet the wage paid by the big COM
pany.
In 1917 the Central Competitive Field
scale had been in effect since April J.,
1919, and was to continue until April
/. 1918. Union officials complained
that conditions growing out Of the
world war made increased wages nee
essary, and the operators granted an
advance of 10 cents a ton. Later a
similar advance was obtained, the OPP
orators conceding 1t when the govern
ment's war time fuel administration
approved an advance in prices to meet
the higher wages.
Further wage advances came after
the 1919 soft coal strike on an award
of government commission, and to-
day the wages of the miners are said
to be the highest ever paid in the coal
industry.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-03-30

both criminal and civil proceedings,
pending in the federal court here. And
more than 200 operators, miners and
retailers are charged in an indictment
with conspiracy to violate the anti
trust laws by combining to restrain
trade, and force unfair prices upon the
consuming public. Action in the case
is at a standstill awaiting removal or
nonresident operators who are among
the defendants.
The civil suit, brought by the Bor-
derland Coal Corporation, operating
in the Mingo CIV. Va field, makes
similar charges as the criminal cas- :.
asserting there is conspiracy aimed
to shut off the competition from non
union West Virginia fields. The e Jr-
derland company scored partial vic
tory recently in obtaining a prelImi-
nary injunction designed to stop vto-
lence about the company's mines.
Both the governments Indictment
and the Borderland company's suit
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-03-30
By Ad Carter

production or reduce the earning ca
pacIty of. tho men" This provision is
interpreted to bind operators and
miners to strict observance of wage
scales agreements, and present any
action by either that might change
the terms Of employment. But strike
comes when the opportunity for nego-
tiations has passed, and the threat Of
a big walkout starting April l, now
hinges apparently on whether the OPP
orators for the whole Central Com
petitive Field agrees TO meet the
miners.
Two unusual changes have been
made during the life of contracts. A
voluntary reduction was taken by the
miners In 1895 and two increases of
wages came in 1897, without a contro-
versy. The agreement covering the
year 1899 was made with the under
standing that 1t must be observed by
all operators especially one big COM
pany of the Pittsburg district. In July
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-03-30

charge the alleged conspiracy was en-
tered into in 1898, when the interstate
movement was revived, with the union
getting wage advances for the workers
and obtaining the establishment Of the
eight hour day in the Central Com
petitive Field. In return for these
concessions by the operators, it Is also
charged the union agreed to shut off
the competition of non union coal, CIV
ing a monopoly to the operators run
ming a closed-union shop. Both the
union and the operators deny the
charges, and have retained imposing
arrays of counsel to contest their
cases.
Since 1912, all the wage agreements
of the Central Competitive field have
included this provision: THAT internal
differences be referred for adjustment
to the various districts affected, it
being understood that nothing shall be
done in district or sub district conven-
ton that Will increase the cost of