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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
Dec 27, 1923
Page
3
Wall Street opens higher with locomotive issues leading. American Locomotive and United States Steel hit new highs as market buoyancy grows. Traders eye dividends and tax changes while late-session selling tempers gains amid year end adjustments.
Dec 27. Time money market rates show 4.0 percent bid and offered for commercial paper. Prime names appear active in the money market conditions reported.
Markets report fresh butter eggs cheese and poultry prices in Indianapolis Chicago and Cleveland. Butter and packing stock values vary by weight, with turkeys fowls geese and ducks listed, along with potato quotations across Wisconsin Minnesota North Dakota Ohio and Michigan.
Ninety six traffic department members and families attend the Rainbow room Severin tonight for the first Trafficmen ball. Sergeant Shine chairs arrangements with Lambert and other committee members. Police Chief Rikhoff Mayor Shank and reporters invited.
A rise in sweater sales mirrors growing outdoor recreation fashion. Ten years ago only a few were sold. now specialized stores abound. Materials cost 60 cents of every dollar, wages 17 cents, profit and overhead 23 cents. a 19 percent wage rise would require 1.7 cents more per dollar, while a 10 percent materials increase would add 6 cents.
Time letter reports the curb market opening with stronger declines than industrials. Prairie Oil and Gas rises 9 points in the petroleum group while Gold Dust in Industrials gains 15 percent to 31. Oils retreat after crude price gains seem priced in. Mutual Oil reaches 13 percent then 12 percent. Magnolia up 2. Imperial of Canada off 1. Gulf of Mexico off 1. Centrifugal Cast Iron Pipe falls 14. Checkered Cab slips from 40 to 37 after a brief gain.
The feature of the early bond trading today was a sensational rise in Marland Oil bonds with Eights with warrants advancing to a high of 137 then easing to 135 up 5 from Wednesday's close. Cuba Cane Eights posted a new high to 96 44 and Eastern Cuba Sugar 7s rose to 107 percent.
Gasoline prices listed per gallon exclude state tax. Energee 16¢, Purol 12.2¢, Red Crown 12.2¢, Target 12.2¢, Silver Flash 16¢. Kerosene Crystaline 10.76¢, Moore List 1Sc, Perfection 10.75¢. Rapt Boks Power cleaners 25.1¢, Standolind cleaners.
Wholesale selling prices for dressed beef from Swift & Co. are given for various cuts including Ribe No. 2 at 30 cents and No. 1 at 17 cents, ins No. 2 at 25 cents, rounds No. 2 at 20 cents and No. 3 at 15 cents, chucks No. 2 at 18 cents and No. 3 at 10 cents, plates No. 2 at 8 cents and other grades.
In New York on December 27 the raw sugar market opened steady with January at 6.39 cents, March around 4.63 to 4.69, May between 4.73 and 4.75, and later months near 4.79 to 4.81 cents per pound.
New York cotton market closes with July at 35.70 cents per pound, up 27 points. Other months show slight gains as overall trading stayed steady.
Grains were irregular at the start on the Chicago Board of Trade as Liverpool failed to respond and Argentine receipts rose, limiting export business to 100,000 bushels. Corn sold off modestly after a strong open, oats rose with corn, and provisions opened sharply lower amid hog weakness and higher stockyard arrivals.
Chicago on December 27 reports primary receipts for wheat 97 000 against 1 654 000, corn 1 643 000 against 2 237 000, oats 773 000 against 883 000. Shipments show wheat 380 000 against 954 000, corn 746 000 against 672 000, oats 482 000 against 637 000.
In Chicago on December 27 price tensions persist as domestic wheat remains above the world basis requiring adjustment to compete. Corn prices soften with free offerings and weak cash demand. Argentine wheat threshing advances and Brazilian flour exports revise lower by about 1.1 million barrels. Wheat surpluses persist worldwide though U S mills seek outlets, while Canadian stores near capacity.
Local mills and elevators are paying $1 for No 2 red wheat. The report notes current price levels for grain in the area and reflects commodity market conditions.
The Sinclair Consolidated Oil Corporation received Tehran cable advice that a concession granting exploitation rights in four northern Persian provinces has been signed. St Louis Rocky and Pacific Railroad declared a regular quarterly 1% preferred dividend as directors note 1923 earnings below normal but anticipate improvements.
The notice lists permits and costs for multiple projects including a furnace replacement at 612 East Thirteenth for 470 dollars, an addition at 613F Chadwick for 34.8?, repairs at 1600 Columbia, a tire and battery shop bell board at 626 North Meridian for 500 dollars, remodel by William H. Mobs estate at 1127 for 500, a garage by James Hurt at 4702 Winthrop for 200, a wreck at Market and Circle, a sprinkler system at Capitol Warehouse company 1952 Madison for 35 dollars, and W. L. Van Sant at 4912 East Washington for 200 dollars.
Mrs Frances Mansfield recovering at the city hospital after burns from a coal oil camp stove explosion. She was cooking the evening meal when the auto party stopped at Maryland Street and Senate Avenue Wednesday night.
Hog prices slipped slightly due to heavy marketing and scarce shipping orders. Top quotes fell to $7.30 with bottoms near $7.15, lights $7.15-$7.20, mixed $7.20-$7.25, heavies about $7.25-$7.30. Cattle and calf sales were steadier, calf values jumping to $14.50 top. Receipts: hogs 15,000. cattle 900. sheep 100.
Hog receipts in Chicago rout: top at 7.20, bulk 6.05 to 7.10, heavy to light mixed. Cattle receipts at Chicago show uneven demand with light yearlings active and weights varying. packers paying up to 12 for dealers, plus notes on stockers. Across Cincinnati Kansas City East Buffalo and Pittsburgh markets, hogs steady to lower, cattle mixed, sheep and lambs active with varied prices. regional highs include 10.75 for shipping steers and lambs around 13.25 to 12.50. Continuous market activity reflects broad regional price shifts and fluctuating demand.
Foreign exchange opened higher in New York on December 27 with demand and cable rates listed for Sterling francs lire belgian marks czec swiss guilders pesetas swedes norway denmark and other currencies. Rates show minor gains across most major pairs.
Market reports show growers facing fluctuating bids with prices around ten to twelve dollars per bush in early trading. Traders note variability by region and seed quality as demand and supply shift.
Mrs. Mabel Walker Willebrandt, assistant attorney general in charge of enforcing prohibition, says pinching pints fails. She urges targeting supply sources, coordinating across Coast Guard, Revenue and Customs, and using tax investigations to expose big violators with millions in assets.
A long list of marriage licenses shows numerous couples from various states and cities including Acton Indiana S04 Highland Ave New York Cincinnati Ohio Freeport Pa Grand Rapids Mich Kokomo and Dallas Texas among others. The notices pair ages and addresses for each party reflecting a broad regional set of nuptials.
A long list of birth announcements lists couples and addresses including John and Carrie Bobne at 622 W Forty First and Edwin and Marie Reiche at 2972 N Denny With many entries tied to hospitals such as Deaconess Methodist St Vincent and Clark Blakeslee Names include Vannoy Virgie Davis Carl Jessie Birr Walter Eva Graham Farr Nina Brown and others with common street addresses in Missouri and surrounding areas
A garbled OCR list records numerous deaths and medical notes with ages from 3 to 78 and varied causes such as acute ocarditis chronic myocarditis meningitis diabetes and arteriosclerosis. Addresses and hospital names appear inconsistently among fragmented lines.
The state faces a partisan contest as eight of sixteen agricultural board seats are up January 9. Governors McCray influence lingers as Republicans and Democrats push for control in Marion County and districts including Seventh, Tenth, Second, Twelfth, Eighth, Third, First and Eleventh. Incumbents and challengers across districts vie for seats with party lines shaping support for McCray policies.
Governor McCray announced the reappointment of James K. Risk of Lebanon to a four year term as trustee of the Indiana School for the Deaf. The appointment takes effect January 1.
Governor McCray named Mrs. William A. Hough of Greenfield to the board of trustees at the Indiana School for the Blind. Her four year term runs until January 1.
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