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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
Dec 02, 1926
Page
7
Speculative sentiment improves as broadening rally appears in New York stocks. Allied Chemical hits new highs while Steel edges higher on rising operations. United States Industrial Alcohol gains. Broad demand for Steel common pushes to 148 1/2, fueling renewed bullish activity across leading issues.
Local clearings show a total of 4 270 000 with debits of 8 097 000. New York clearings reach 1 169 000 000 with balances of 119 000 000.
Wheat opened on the Chicago Board of Trade 7 lower as bearish signals from Liverpool and potential lake navigation closures weighed on prices. Corn eased to lower to ½ cent, while oats fell about a cent, and provisions held steady as supply and quality concerns persisted.
The State finance committee will allocate deposits and name depositories for the next two years in early January. Banks chosen must pay 2 percent on state funds, a figure that fuels interest and politics. The committee comprises Governor Jackson, State Auditor L. S. Bowman, and State Treasurer Grace B Urbahns.
Frank E. McCormick of 1208 Rural St was fined $25 and sentenced to 30 days for assault and battery and driving while intoxicated after his car struck a safety zone injuring 16 year old Betty Bauman of 528 Tuxedo Ave on Oct 24. He plans no appeal, claiming illness and denying intoxication.
At the International Livestock Show in Chicago 15 year old Harry Haffziger of Deer Creek Michigan led Youth's Pride V to the crown as the year's symbol for national boys and girls club work. L H Laylin of Mason Michigan won hay king of the world for a mixed timothy and clover exhibit.
Harry F. Sinclair reports a 20,000,000 barrel drop in oil production for the first three quarters of 1926 vs 1925. He notes total crude and refined oil in the U.S. on Oct 1 is 34,000,000 barrels below July 1925 peak and says gasoline demand rose 17 percent in 1926.
Chicago markets report butter receipts 3 944 creamery prices 53 4 to 46 20 firsts 47 44 seconds 37 40c. Cheese values listed as 4c and 6c. Poultry receipts 18 and 20e for fowls and springs. roosters and heavy birds noted. Potatoes and produce show track car in transit and regional price shifts with Minnesota whites around 2 50 and Idaho russets similar. shipments from Wisconsin at 2 59 to market amidst decay in some lots. Continuous variations across states reflect wholesale movement and market conditions.
No new commodities appeared on the stands and prices were steady since Tuesday. Nuts on hand include New English walnuts 50 cents a pound, paper shell pecans 75 cents, Brazil nuts 30 cents, Hickory nuts 10 cents, hazel nuts 30 cents. Mushrooms 80 cents per pound, eggplants 25 to 30 cents each, Cuban pineapples 40 cents each. Cranberries 15 cents a pound, home grown cabbage 5 to 15 cents a head, peas 25 cents a pound, tomatoes 35 cents a pound, Florida oranges 40 to 60 cents a dozen. No changes in produce prices.
A garbled OCR catalog lists fruits vegetables and staples with assorted prices. Items include dates cranberries lemons oranges grapefruits and pears from Florida California Oregon and Indiana. nuts cabbages celery lettuce apples and onions with varied per box, per bag, or per basket pricing and several bulk quantities.
It is reported that Cuba may permit a larger 1927 harvest, perhaps 75,000 tons more than the 4,500,000-ton crop recently indicated. European crop prospects and Cuban producer interests could influence policy, but a cautious Cuban administration will adjust its plans only as new developments warrant. Futures gains are expected to continue, with profits likely to be taken occasionally.
Elevators quote No. 2 red wheat at 1.27 per bushel with other grades sold on their merits. The report notes regional activity in the grain market and varies by quality.
The cotton market shows strong demand despite aggressive bears. Short sellers may trigger a scramble as buyers seek contracts, and demand remains steady with no real retreat evident in the trade.
Hog prices slipped ten cents with a 5 000 head run and 203 holdovers. hogs 120 to 300 pounds at 12.25, 300 pounds 11.75 12.25. Cattle receipts about 900 with beef steers 7.50 to 10.25, stockers 6.50 7.75, cows 3.50 6.50, calves 6.50 8.50. Sheep and lamb receipts 1,000 with fat lambs about steady, natives around 12.50, bulk fat lambs 11 to 13, ewes 7, bucks 34 to 75.
Chicago reports active cattle trade with strong steer demand and top yearlings at 13.20. Vealers and calves show softer prices, while sheep and lamb markets stay steady to firm. Pittsburgh and Toledo notes show varied beef and pork prices and light calf receipts.
Richard Henry Rule 22 of Washington area business family was found guilty of manslaughter in the Halloween shooting death of 19 year old William J Barbee Jr at a suburban party. The State argued the case targeted modern youth. the defense claimed self defense. The prosecutor urged enforcing the law and moral restraint.
United Press reports Johnny Clarke tackle and Sam Donstein back were elected by the City College football team as captains for the coming season. Clarke and Donstein will lead the squad in 1930 practice and games.
American and Japanese destroyers sent from Shanghai to protect foreign residents in Foochow due to expected clashes. About 300 foreigners, mostly missionaries, live in the area as Central China forces attempt a landing to halt the Cantonese advance. Foochow, capital of Fukien, lies south of Shanghai.
President Ban Johnson fights to keep top all time players in the American League as Cobb Speaker and Collins leave managing roles. Five of seven big league managers retired or fired since 1925, boosting rival National League names Mellin and others. If stars depart, Johnson’s circuit risks reduced drawing power and profits.
Daniel G Harris was found guilty of manslaughter in Criminal Court for the killing of Charles Gurton of 215 Indiana Ave The incident followed a quarrel and involved African American victims and suspect in the city court record.
A British Oxford University team won unanimously against Westminster College of Fulton in Kansas City in a debate arguing for light drinking and against prohibition. The audience favored prohibition 342 to 183 amid witty exchanges and mockery of temperance claims.
The Indiana public service commission may seek a rehearing before the U S Supreme Court on the Indianapolis Water Company rate case. Attorney General Gilliam advised against rehearing as impractical, noting the 1924 federal court valuation of 19 million dollars would require updating. Chairman McCardle indicated uncertainty about future action but sees little value change since 1924.
United States capital flowing into Canada has raised American share of total foreign investment from 17 percent to 28 percent over the past thirteen years. Er. W. Beatty, president of the Canadian Pacific Railway, stated this during a speech at the Investment Bankers Association of America convention in Quebec.
Lawrence Kansas December survey shows 73.7 percent of Kansas University students are church members and 90 percent belong to a church or hold a church preference. The figures support bishops’ claims that today’s youth are more religious than in the past with a small rise over previous years.
Secretaries from Illinois Ohio Michigan and Iowa plan conference to solve interstate license law issues. Kentucky declines joining the Midwest group prompting debate on border licensing. Indiana MTA and Hoosier State Automobile Association attend with calls for uniform licensing and title certificate adoption.
Harvey Meyers of Covington Kentucky, a state legislator, said he will introduce a resolution to urge tourists to avoid Kentucky. He objects to a newly passed law requiring all commercial vehicles entering the state to obtain a Kentucky license and seeks its appeal.
Anne Caldwell, New York show girl and star witness for a $500000 breach suit against Pittsburgh manufacturer John W. Hubbard, testified that he repudiated their engagement without cause. She said he persuaded her to quit her job, move to New York, and pursue acting, then ended the relationship after a trip to California and a return to New York in 1924. Hubbard claimed his affections had changed and he never planned to marry.
About sixty couples will attend the informal dinner dance of Ohio State University alumni Friday night at the Lincoln Charles KE Jefferson, president of local alumni, announced today. The affair coincides with nationwide observance of Ohio State Day. Harry G. Crawford is secretary.
London December 2. Harry Campbell, in a lecture before the Institute of Hygiene, argues women are inferior in athletics due to smaller lungs and fewer blood cells, shorter legs, and a slower vital fire. He says intellect is similar though genius more common in men.
The New York Americans and the Chicago Black Hawks battled to a 2-2 tie in a Madison Square Garden hockey game on December 2.
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