davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1926-10-19
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The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1926-10-19
SOCIAL
Activities
e N Il EoR T Al N RNT
WEDDINGS BETRoTHAIs

Reports from the National Fed
GRAFTON of Clubs were given this aft
ernoon at the regular meeting of the
Fortnightly Literary Club at the
Propylaeum by the clubs delegates.
Mrs. o. B. Jameson and Mrs. Jesse
Cameron Moore. Miss Gertrude Ba-
ker, delegate to the State. fedora
ton, also gave a report.
Mrs. Herbert Foltz read a paper on
'Milestones," by Arnold Bennett, and
Mrs. Alfred Conklin gave a talk,
Queen Mary as Working Won
an"
Flower Mission Society Anniversary
Mrs. Howard Gay, president, pre-
sided at the dinner Monday evening
given by the Flower Mission Society
at the Propylaeum, in celebration of
the clubs fiftieth anniversary. The
tables were arranged with yellow
garden flowers and candles.
Eugene Foster was POSTMASTER
and Mrs. Allan Hendricks spoke on
plans for the future in which she
Mission Hospital.
Those present were the Messrs.
and Mesdames Frank Fishback,
Arthur Wolf, David Ross, Arthur Va
Brown, Henry Kahn, William ColeN
4 man, Edgar Evans, S. w. Smith,
Carlos Rocker, w. H. Insely, f. S.,
c. Wicks, Stewart Green, Q. p.
Emerson, Matthew L. Haines and
the Mesdames Thomas r. Kackley,
Charles Wood, James Roberts, S. e.
Perkins, Kate Perry Morris, Robert
Geddes, John Hendricks, Caroline
Vajenm and the Misses Grace Fergu-
son, Julia Wake, Rhodai Welding
Joseph MCGOWAN.
Parties Planned for Miss Stevens
Mrs. Lawrence Henderson will en-
terrain Monday evening for Miss
Helen Stevens, whose marriage to
Harold Mercer will take place Nov.
16. Others who will entertain in
her honor are Miss Mary Lee Orloff
ON Nov. l and Mrs. Louis S. Hens
ley and Miss Charlotte Reissner, who
will entertain Nov. A. Miss Sara
Frances Downs the only attendant
of the bride elect, will give a party
in her honor at a later date.
Bridal Dinner for Miss Evans
Miss Dorothy Evans, whose mar
11age to Herbert E. Rennard will
take place this evening at the Capitol
M. z. Church, was entertained with.
a bridal dinner Monday evening by
her parents, Mr.. and Mrs William
L. Evans, 1858 w. Thirtieth St
The bridal colors were shades Of
the rainbow. Guests were members
Of the bridal party, including Mes
DANES H w. Pattison, ELomer w.
Jones, c.. Z. Ruth, Pittsburgh, Pa,
and Roy Saben, Westfield, N Y;
Misses Mary E Mendenhnll and
Wanda Woodruff of Upton; Vida
and Evelyn Woodruff, Mr.. and Mrs
Earl Hoover, and the Rev. j. G.
Evening star., 1926-04-24
ST.PAUL FINANCES
PROBED BYL.C c.
Roads Plight Discussed Two
Years Before Receivership,
Banker TeStifieS.
By the Associated Press.


NEW YORK, April 24.-The Inter
state Commerce Commissions inves-
tigation Of the Chicago, Milwaukee
and st. Paul Railroads failure turned
to the financial management of the
road yesterday
Samuel Fl. Fisher, a st. Paul bank
er, continued as a witness. He tes-
tilted that the micfortunes of the ST.
Paul road were discussed by directors,
bankers and officials for two years be.
fore 1t went into receivership.
lie was pressed closely in an effort
to find out why some one on the board
Of directors had not actually assumed
responsibility for instigating a prac-
tical plan TO prevent the foreclosure
on $S00.000,000 worth of property
which accompanied the application for
a receivership. 1t has been charged
that the road was forced into q re-
ceivership so that a financial reorgan.
ization could be brought about at the
expense of the small stockholders and
bondholders.
Walter L. Fisher, representing the
commission, and X. K. Prentice, rep
resenting the bondholders, contended
that the directors had been derelict in
not taking advantage Of opportunities
to refund or extend the French loan"
aggregating $48,000, 900, failure TO
meet which, precipitated the receiver
ship.
Samuel Fisher denied this vigorous
ly. He cited various conferences be-
tween directors and officials of the St.
Paul and representatives of Kuhn,
Loeb & Co. and the National City
Bank, at which efforts were made TO
find way out of the difficulties.
Evening star., 1926-04-24
|NOW is TIME TO SELL RATHER
THAN BUY STOCKS, SAYS BABSON
Business Expert Advocates Purchase of Common
Shares i'm Time of Great Business Stress,
When Concerns Are in Need of Support.

more easily frightened than broker,
and that is a pair Of brokers. The
same primeval laws apply to Wall
Street as to the jungle. 1t Is a case
Of the survival of the f1ttest and all
are worrying, naturally, about them
selves, with little regard for the other
fellow. Therefore, only those who
know how to swim should go into deep
water. In other words, unless you
are a broker, don't buy more than you
can pay for.
Market Is Still High.
This advice is especially important
to heed at time like this. Although
there has been much talk in the news
papers the past months regarding 'one
terrible break in the stock market
yet the stock market Is still very high.
The break of March, based on the
number of points. was large, averag-
ing about 10 points for the rails and
10 points for the industrials. but
there was a considerable rebound.
notwithstanding recent fluctuations
the market is still high.
However, my real reason for not
recommending the purchase of stocks
today is the condition Of general bust
ness. AS previously stated the time to
buy stocks Is during the early part of
a period of depression, when general
business, as registered by the Babson
chart, Is we'll below the normal line
Today the Babson chart registers bust
ness as 10 per cent above normal.
This, based on previous history. sug-
gests that now is the time to sell com
mon stocks rather than to buy them. 3"
Copyright. 1928. Publishers Financial
Bureau.)
Evening star., 1926-04-24
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK. April 24.-The secur
ity markets during the last week have
taken their inspiration from two cir
cumstances.
First there was the fact that the
stock market during February and
March lost nearly all the ground
gained since the middle of the Au-
tumn. This meant the building up of
a vulnerable short interest which 1t
was not hard for professional op-
orators to run in. 1t also meant that
the disappointment regarding the
trade developments had been over
played in the same manner that the
ontimistic predictions at the start Of
the year had been overdone.
The second episode has been the pill
ing up Of money supplies. Seldom
since the establishment of the Federal
Reserve system has there occurred
any such increase as that from 1863
per cent to SS.3 per cent in the reserve
ratio in the New York district in a
single week. The reduction from to
3la per cent in the rediscount rate
logically followed and SO did the lower.
ing Of call money to 3 per cent and
the offers of long-term funds at An.
Wall Street Loans Drop.
Since the 1st of January Wall Street
loans have come down nearly $70O, ,000.-
600. This has been accepted as very
largely undoing the speculative ex-
travagances in the closing months OF
last year 1t has had an important
effect upon the speculative situation,
since 1t has made it appear to be a
good deal stronger.
There has been no direct relation
between money changes and stock
changes in recent years, but Wall
Street needed to be assured that the
element Of imitation had been reduced
| below the danger point, and 1t has
felt convinced Of this after the loan
figures were given out and after the
New York bank gave the announce
| ment Of the cut in its Official rate.
So far as investment securities are
concerned, taking in the higher grade
| bonds and stocks, 1t has been the live
lest market in four years. This class
of issues depends, Of course, upon
money rates. They are not affected
by business changes. With money
down to the lowest in more than a
year. investment valuations are natu-
rally raised all along the line.
At times during the past week the
| investment demand has become really
urgent, showing particularly in the
! new high records for United States
| Treasury bonds and in the buying OF
Liberties at the highest figure SO Tar
| reached in 1926. It has been revealed
in the unusual prices paid for first
mortgage railway bonds.
| Then comes the second stage, where
| the investment buying movement
overfiows into the stock market. It
4 :, ! ,
Evening star., 1926-04-24
MINING.
Sales in
hundreds.
MARKET INSPIRED BY PILING UP
OF HUGE SUPPLIES OF MONEY

duStrial preferred shares which re-
turn. like United States Steel prefer
red and American Car and Foundry
preferred, only 6A per cent.
Therefore 1t passes into the stand
ard rails and into the common stocks
Of industrials and utility companies
which have an established dividend
record. This sort Of thing has been
going on in the market for the last
week. But it Is an investment con-
dition and not speculative condition
built upon old-fashioned lines.
Years ago a superabundance of idle
funds like the present would have
brought on a great speculation. Now
adays the essential point is the busi-
ness situation generally and as apply
ing to special industries. II business
does not come up to expectations
there is no reason for any extensive
upward turn in stocks, and at the
moment it does not appear that there
is any ground for a sustained forward
movement.
The rise Of 3 to 10 points in specu-
lative stocks has been the spectacular
feature Of the week. But it has only
been a rebound after a decline which
was almost as extreme as the rise,
which lasted from the end Of Septem-
Der to therend Of November and which
was unsuccessfully resumed in Janu-
airy. This Is no indication that the
market of the last week has been get
ting ready for any decided change for
the better in business conditions.
Commodity Prices Still Low.
Despite the comparatively favor
able showing in the first quarter
report Of the Bethlehem Steel Cor
poration, the fact cannot be over
looked that steel prices are down and
that buyers are in control. Copper
prices are low. So are sugar prices
and so are cotton prices. With
these important products at a mini
mum level. there can be no great
amount of enthusiasm over the COM
mercial outlook. despite the very
large volume of consumption through
out the country, which Is being
shown in the weekly figures on rail-
way tonnage and bank clearings.
A remarkable incident has been the
lack of response on the part Of the
French franc to the plan announced
for settling the American war debt.
Some critics have assumed that II this
obligation were taken care Of ii
would involve fresh advances OF
American capital to France. which
would have the same effect that the
500, ,000. 900 loan did in March, 1924
But while French dollar bonds have
recovered, the franc has risen very
little from its extreme low.
The only conclusion that can be
drawn is that the financial situation
| in France cannot be cured until the
budget is actually balanced through
tax Increases, which viii not be post
poned but which will take effect ir
time to provide for the maturing
iicl tern loans.
Evening star., 1926-04-24
COURT RULES ANEW
ON FREIGHT RATES
Term Unreasonable" Held Not
Limited to Discriminatory
Rail Charges.
By the Associated Press.

By the Associated Press.
TULSA, Okla, April 24.-Federal
Judge F. Z. Kennamer has ruled that
the phrase relatively unreasonable"
in a freight rate order Of the Inter
state Commerce Commission does
not mean that the rate is merely
discriminatory. but that 1t is actu-
ally unjust and unrea sonable.'
The effect of the decision, rate ex-
perts believe. is that complainants
who get a decision that a rate is
relatively unreasonable" do not have
to prove damages or loss of busi-
ness because of the rate, but only
must prove they paid the rate. and
on that proof can collect reparation
from the railroads or the Federal
Government during the period of
governmental operation of railroads,
together with per cent interest.
The decision came down in the
case of the Tulsa World Publishing
Co. ct al. VS.. James c. Davis, direc-
tor general of railroads.
AS a result the United States Rail-
road administration must pay repa-
rations claims which had been
awarded by the Interstate Commerce
Commission November s, 1920.
Evening star., 1926-04-24
FOREIGN EXCHANGE.
Quot ations furnished by W. B. Hibbs & Col
Nominal Selling checks
go l.ra today

NEW YORK, April "a R.-Foreign
exchanges mixed; quotations in cents
Great Britain. demand, 4S6; cables,
4s6as: e0-day bills on banks, 4S21s.
France, demand, 1861; cables, 3.37.
Italy, demand, 4.02; cables, 4.02as.
Demand-Belgium, Il; Germany,
1919; Holland, 40.14; Norway, Plat;
Sweden, 26.76; Denmark, 26.16; Swift
zerland, 1892; Spain, 14.43; Greece,
1.24; Poland. 1880; Czechoslovakia,
2.96; Jugoslavia, 1.76; Austria, 14.125;
Rumania, .39ss; Argentina, 40.37A;
Brazil, 14.125; Toxic, 47.25; Shanghai,
1850; Montreal, 100.15Ss.
Evening star., 1926-04-24
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Once

the most trying periods in its history
without being obliged to seek outside
assistance. and closed last year with
more cash resources than 1t had at
the outset.
Red Bank OH was q feature OF its
group, getting up almost points, and
there were further slight gains In
Standard issues.
Canada Dry Ginger Ale was bought
in anticipation of greatly increased
sales during the coming month, and
around the 90 level was up almost a
point.
South American oils were prominent
again under the lead Of Carib Syndi-
cate
Evening star., 1926-04-24
BANKRUPTCY NOTICES.

trict of Columbia. Holding a Bankruptcy
Court-ln the matter of the Hamilton Hotel
Corporation, Bankrupt-In Bankruptcy No
tel Corporation, a corporation of the City OF
Washington, District of Columbia Notice is
hereby given that on the 22nd day of Sep
tenber. AID. 1925, the said Hamilton Hotel
Corporation was duly adjudicated bankrupt,
will be held at my Office in the wilkins
Building, 1912 H street north west, Washing
ton. D. c.. on the 3rd day of May. Alb
1928, at 1890 o'clock am. at which time
the said creditors may attend. prove their
claims: appoint a trustee. examine the on
GERS of the bankrupt corporation and trans
act such other business as may properly
come before said meeting. RALPH D.
QUINTER. Referee in Bankruptcy.
Evening star., 1926-04-24
BALTIMORE PRODUCE.

BALTIMORE, April "a (SpeciaD.--
White potatoes, 100 pounds, 2.50a5.50;
new potatoes, barrel, 9.00a12. 90; beans,
bushel. 2.00a3 so: beets, 100, 2.0Oa4 90;
cabbage, hamper. 75a1. so; sweet pota-
toes, barrel, 2.5oa7.00: yams. barrel,
2.50a6.00; carrots. bushel, 2.00a2 so;
caulihower. crate, 25oa275; celery,
crate, 2.50a3.50; kale, bushel, 4Oa60;
lettuce, basket, 1.00a3.00; peppers,
crate. S.00a6.5O; onions, 100 pounds,
2.50a4.00 Spring onions, 100, 1.5Oa1.75;
tomatoes, crate. 3.5oa6.50; spinach
bushel. 40a65.
Apples, barrel. 2O0a5.Oo: bushel
50a1.50; grapefruit, box. 400a6. so
oranges, box, 4.50a6.50; strawberries
pint, 19a20.
Evening star., 1926-04-24
SURPLUS REPORTED.

NEW YORK, April "a Gp.-The
New York. Ontario and Western had
surplus of $42,270 for March, after
charges, in contrast to a deficit of
$205,475 in March last year Results
for the first quarter of 1926, how
ever, show deficit Of $540,191 after
charges.
Evening star., 1926-04-24
BUTTER IS HIGHER.

CHICAGO. April % O).-Butter-
Higher; receipts. 1906 tubs; cream
cry, extras. 37la; standards, 37&; ex-
ira firsts, S6A2a37: flrsts, 35ha36; sec
onds, 32a34h. Eggs-IIigher; receipts,
22.9S6 cases; firsts, 20; ordinary f1rsts,
2712.
Evening star., 1926-04-24
Your Banker. RnoHs.

When in doubt about security
consult your banker. 1t is equally as
much his interest as your TO protect
YOUR savings. You trust him with
your deposits-why not trust him
with your investment problems?
Evening star., 1926-04-24

BOSTON, April 24.-Following is a
list of today's highest, lowest and clos
ing prices for the most active stocks
dealt In here.
Evening star., 1926-04-24
TREASURY CERTIFICATES.
Quotations furnished by Redmond & Co..
sHoRT.TERM SECURITIES.
Quotations furnished by Redmond & Co,

@-CloSe.-@
Bid. Offer
Adirond. p. & L. c. 6s 1929. 102E 1903,
Alum. Co. Of Amer; 7s IS35. 1oSE 131A
Amer Beet Sugar 6s 1882. e6b "
Am. Tel Il Tel. Co. 4e 1929. 91E gS
Anaconda Copper 6s 1879. l02S log
Associated Oil 0s 1891: l02H 103,
Baltimore & Ohio 6s 1e29.. 102% loan
Bethiehern Steel 6s 1885,. 9S1s 96H
Central Of Georgia 6s 1929. 103 103E
Chi, r. I. & Pac. ns 1875 100 100h
CITY Of Lyon 6s 1884. 80. 81 81
Coiun,b G. +. LIST Be- 1927 1OOH 10OX
Continental G. & z. 5s 1927. geh 1Q0M
Federated Metals 7s 1899; 81 ga
Fisher Body Corp. 5s 1928. 100 10QN
qoodyear r. & r. Sc 1881. 110b 110N
Great Northern 7s 1886: :s:: IAN Han
Hulf OIL Corp. Pa. rs 1878 19X% lV1 ~
Humble OIL B. rs 1932. :sS: 1VS., 1Q2 ~
M 81. P, & 8. s, N. @ 4As 1881 1O3k 1Q4
No. Pac. 3. r, GO. 81 le27. 1879 1898
New York Central 6s 1888. 1O7% 1OSh
Oregon Short Line as Ie%s.. y ~SS
Penna. Z. =; e 1SSU :,ooiai 11UUox IUUooT
Swift & Co. 6s 1889. ..c, SS5 ySB
Union Oil Of Ca1f: os 1889. S1H ",
Union Pac. r. =. C.. - l127. ,Sg3 Sgss
q. s. Rubber 74fg 1e3Vaa.. l01S 19S
Wwessinnhouss wessfarh E E.x1. 70 isSi io5E 1o5T
Evening star., 1926-04-24
What Common Stocks to Buy.

"V-hen the panic comes, the Ques-
tion naturally arises as TO What com,
mon stocks to buy. brokers anu
friends will have many recommehoa
tions at such times. 1t, however, lS
questionable as to how much atIep
ton should be given TO them. Ups
given in a panic are more trus.woi 10y
thon the fins given during boom,
hut thew are still tips. Moreover. at
such times the tendency Is to buy
stocks which need help the leaSC
rather than stocks which need help
the most. AS at such times all stocks
cell below their real value IL IS
dangerous for the small investor 10
do much picking or choosing unless
ha ia we'll equipped with statlstlcs OF
is subscriber to some statlstlcal
Investment service. Unless 1t Is a
stock in some local company WIN
which he is well acquainted, the snlali
investor should confine his panic pur-
chases to stocks listed and actiVely
traded in on the New 1ork SoocA
Exchange. Moreover, ne shouio no.
confine his purchases to only one OF
Two stocks. but should buy at least
m In order to diversity his invest
ments. A simple. rule Is to take the
IN which over a. certain period nave
u-,t tnessed the heaviest trading. Inc
Sailv napers give not only the quota
t;ons hut also the number OF shares
sold each day. Therefore, any In.
yestor can select the 10 stocks OF
which there have been the greatest
amount Of selling. These stocks are
the ones which are suffering the most
and need the most help. Therefore
an investor can render the most serv'
ice and secure the greatest proht oy
buying these 10.
gwen in times of panics it Is dan
pero,,s to buy stocks on margin or on
borrowed money. When one buys on
borrowed money he is apt to lose his
nerspective and get ratified. Thls
especially applies to people who buy
on margin. Both bankers and brokers
are yery pleasant when money Is easy
and stocks are going up, but they are
compelled to be entirely different when
conditions change and panics reign.
Moreover, this is no fault Of theirs.
because they must be hard boiled at
such times. Like a captain, they must
throw over the cargo in order to save
the ship and crew. A brokers' cargo
consists Of his margin accounts.
Therefore, IL you don't want to run
the risk Of being thrown overheard,
pay for your stocks in full, carry
them away and put them In your safe
deposit box There is only one thing
Evening star., 1926-04-24
BY WILLIAM f. HEFFERNAN
Received by PriVaI
Special Dispatch to The Star.

SpecaI Dlspatcn 10 Inc Star.
NEW YORK, April 24.-Strength
was fairly we'll maintained on the
Curb Exchange today. and In special
issues recovery was again quite pro-
nounced.
The run-up Of more than points
In Victor Talking Machine accom-
panied reports of highly favorable
earnings and the prospect that these
would continue throughout the coming
year. According to the president. the
company has passed through one of
Evening star., 1926-04-24
PRICES UNCHANGED
IN CENTER MARKET
Unusually Fine Array Of
Fruits and Vegetables for
Saturday. Buying.

Saturday morning traders, wanting
abe first call on the best products,
were in evidence during the early
morning hours. They wanted sup
plies for their customers for the week
end, and no difficulty was experienced
IN their efforts to obtain them.
There were plentiful supplies of all
toodstuffs, some high and others Of
tored at fairly reasonable prices.
Poultry prices continued high-about
the same price that has been quoted
!uring the week-and no changes In
meat prices were announced.
Plentiful supplies of attractive fruits
and vegetables gave merchants wide
range from which to make selections,
and prices also covered a wide range,
several grades of most products being
offered.
Large Onion Receipts.
TeXas-grown Bermuda onions are be-
ing received in large quantities. Deal
ers report them as good as those
grown in Bermuda. Bushel poAes
were offered at $325. while a large
yellow onion from Chile, said to De no
better than nearby stock, was oHereu
al a lower price.
Havana and Florida pineapples also
are in the local market, the CtloNS0SI
stock being offered at $3.50 a dozen.
smaller and inferior stock drought
lower prices.
Cherries from California, large ana
in splendid condition. We're offered as
ihe leader in the fruit market. Ihey
wholesaled at 60 cents a pound. Prac-
tically every quotation today was the
same as reported yesterday.
SRYA Vp,..Ons To-day
Butter-F'ancy. 1-pound prints, 4Oa
Al: tub, 45a46; store packed. 80.
Eggs-Fresh selected. 2sa3l: hen
merry, 32a34; current receipts, 2Sa29.
Poultry, alive-Turkeys, hens, Soa
40; toms, s5a40; Spring broilers, boa
60: Plymouth Rock, broilers, 112 to
pounds, 55a60; smaller, 40a45; White
I.eghorns, 40a45; Winter chickens,
; pounds and over, 40a45; fowls. 33;
roosters, %; ducks, young, 80; old, %;
keats, young, S0a90; old, 4oa50.
Dressed-Turkeys. 40a45; broilers. Goa
to; fowls. 35; keats, young. 9oaLoO;
ola 5Oa60.
Live stock-Calves, choice, Il; me-
dunn, 10a11; thin, 7aS: hogs, heavy
and medium, 1914; light, choice, 10;
lambs, IS.
Meats-Beef, 16: lamb, 25a2S; veal,
o3a24; dressed pork, heavy, 10; pork
loins, 34a35; Western. S0a32; hams,
3Qa32; shoulders, 22a2S.
Evening star., 1926-04-24
BAR SILVER PRICE.
BOSTON STOCK MARKET.

NEW YORK, April "a CP).-Bal
silver, Ga; Mexican dollars, 491s.
Evening star., 1926-04-24
GERMAN BONDS AND STOCKS.

Quoted IN dollars per million marke.l
Bid. Asked.
GER CT (w lnl 5s 1914-1s.. $4,000 1000 90
A'sds Asdo, 1919; @ ;;; ;s,9o 5000 10000