Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-01-12
CHICAGO BANK
DEPOSITS SHOW
HEAVIER GAINS
Statements and Handling of
Fl. Dearborn Case Bring
Confidence.
GRAIN MARKET QUIET

GRAIN MARKET QUIET
CHICAGO, Jan. 12.-Bank deposits
here last week We're much heavier than
usual at this season. Prompt and eff
I fective handling of the Fort Dearborn
banks, followed by the excellent state
ments of banking conditions, inspired
| general confidence. Money rates have
been unchanged at to 5% per cent
for commercial paper and for col
lateral and over e-counter loans.
| Debts to individual deposits account
reported for the week ended Jan. 4, by
POP banks in twenty-four leading clear
ing house cities in the Seventh Federal
l reserve district aggregated 9oO,691,OOO
! compared with S754 $3.50 week ago
and 81, 15fS46,OOO a year ago.
While the Continental and CONNER
cial National, the largest institution,
dropped nearly S1O0OO,0O0 in deposits
between Sept u and Dec. 81, the First
! National, the second largest, gained
more than $10000.00O.
RECORD OF GRAIN AND
MEAT SHIPMENTS.
| Last weeks receipts Of wheat, corn
and oats, combined were 12,6SS,000
| bushels, against 11,214 600 for the
previous week and 1858, 900 a year
ago. Shipments were 6,SS5,OO0, against
! . ,23G 600 q year ago. Shipments OF
/ cured and fresh meats from Chicago
were 30,502O00 pounds, against 1854,
! 600; Of lard. 1869 O0O pounds, against
/ 1929 600, and of canned meats, 3,746
case1, against 1880.
/ The grain market as viewed by prom
inent operators is in a state of coma,
where continued lethargy Will result IN
sagging values. It is felt, however,
any increase in business no matter
/ how small. viii tend to advance prices.
/ There is no inclination TO sell grain
short around this level, but investors
/ fear more unexpected financial dis
closures.
/ Grain men find everything that goes
/ into loaf of bread, except water wages
and rents, is lower than last year and
scent loaf can be made at a profit. In
terror mills are understood to nave sold
some -four abroad recently ut relatively
better prices than are securable in tins
country.
CORN FED TO HOGS
PROFIT TO FARMER.
point on corn, made by Allen NJ.
, Clement, IS that hogs sell at an ave~dge
OF T35, compared with 945 a year ago
and s.35 last May. On the basis OF II
to between hog and corn prices, farm
er can get nearly Soc per bushel for
corn by feeding
W L. Gregsoa says: "Speculation is
dormant in pork products. but the hog
seems strong and lard comparatively
cheap. Cash-holders ask higher prices"
The hog market has advanced TO the
highest since last October. In spite OF
strenuous opposition by big buyers.
The strong shipping demand that started
in November continued with remarkable
activity, which IS unusual at this
period Market history shows that the
supply of hogs IS generally largest in
January and prices low enough TO IT.
duce packers to store their products.
Demand for hides appears sufficient
to keep the market steady. About 1000
selected packer light cows are reported
sold at 14c or one-half cent no-e
than similar hides brought recently.
Country buns are In good demand, with
prices firm. Large dealers are nctive
10 the country and travel farther than
usual In quest Of desirable offerings.
Calf skins sell we'll In the East Some
dealers here ask about one cent more
than a month or two ago. Horsehides
continue IN good demand. Tanners
report moderate improvement, but most
buyers await the animal convention Of
the Shoe Retailers Association here Jan.
0-12
The Burllngton's December loading de-
creased Q . per cent? livestock increased
9 per cent and grain 1867, while coal
decreased 424 Last years total de-
creased 17.6 per cent Grain increased
90 per cent, while livestock decreased
III and coal 295.
RAIL LABOR BOARD TO
LUMP WAGE SUBMISSION.
The Railroad Labor Board in CON
sidering wage submissions will probably
lump all eases into one docket and have
each road and union submit its own
evidence. Some applications already have
been made by small lines on Some rela-
lively untmportant classes. but no gen
eral cases have been submitted All
submissions are expected by the middle
of February. The board can dispose of
the remainder of the rules and working
conditions I'm one week. Clerks rules an
pear to be the principal stumbling block
Besides seeking approval Of the Inter-
state Commerce Commission for a so pe-
cent reduction IN grain rates from south
ern Illinois to equalize them with rates
from northern Illinois, recently reduce
the Illinois commerce commission wants
its powers IN such matters defined. Hear
ings on cement rates before the Inter
state Commerce Commission are being
held here. and the Illinois commission
/ asks a thorough Investigation of tho
situation before new rates are cstab-
lsbed
After twenty-five months receiver
ship, the Rock Island and Southern
Electric Railway, extending from Mon
mouth to Rock Island fifty miles. has
been restored to the John r. Walsh In
terests, the court finding the property
now on paying basis The receivers
substituted steam for electric traction.
which lessened operating expenses, while
prnss earnings increase d $40 600 to $40 nnn