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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
Jun 16, 1927
Page
4
Profit king stirred the market but gains were absorbed and trading pivoted on strong industrials and rails. General Motors and United States Steel advanced while steel prices slid to a new low since 1922.
Indianapolis statements show bank clearings of 4 420, debits at 8 079 000, balances 221 000 000. Foreign exchange in New York on June 16 reports steady demand for sterling at 4 855 16, dollar and other currencies mixed with small gains.
Local wagon wheat buyers pay $1.34 for No 2 wheat with other grades bought on their merits. Elevators in the area set the price and determine value by quality.
Butter prices range from 40 to 45 cents per pound in Cleveland with extras up to 45c and local butterfat at 41 to 42c. Poultry prices list hens, leghorns, ducks, geese, turkeys and more with varied per pound rates. Chicago reports butter at 39 to 42c, eggs at 20 to 31c, and Cheese Twins at 22 to 23c, with poultry and potatoes also itemized.
Dow Jones analysis notes strong progress at General Motors may trigger another stock dividend and raise common stock dividends this year. A 100 percent stock dividend could keep the price near 100, with a $10 annual cash dividend possible at today’s rate, and earnings projected around $215 to $220 million for the year.
Greenfield Ind June 16 In matin will be the defense of Earl Russell 46 charged with killing his wife by throat cutting at their home 1069 Eugene St Indianapolis in August 1926 Asa Smith defense attorney declared in opening statement There has been insanity in Russell family and Russell actions were queer before the crime Deputy Prosecutor Paul Rhoad armer Marion County made the opening statement for the State First witnesses were heard this afternoon The jury was completed this morning after examination of ninety veniremen.
Plans for land purchase for the George Rogers Clark Memorial shrine at Ft. Sackville Vincennes Indiana were outlined at a Clark Memorial Commission meeting at the University Club. The commission pursues about 500000 to be raised by a two year four mill tax levy by the 1927 Legislature. Congress may add 1750000 to the state funds with additional support from Knox County and Vincennes. A 1929 western celebration is planned.
The hog market was generally steady to 10 cents lower with receipts around 7,000 head plus 415 holdovers. Tops reached 9.25 while most hogs sold 8.75 to 9.15. In Chicago, trade was quiet but prices held near Wednesday levels. Cattle were uneven with steers steady to higher and cows weaker. beef steers 10.12 to 12.35, cows 6.50 to 8.25, feeders 7.25 to 8.50, weaners up about 50 cents. Sheep and lambs were steady to lower with good lambs 15 to 15.75 and fat lambs 16.00.
A broken OCR births notice lists several newborns with parents and addresses from multiple locales. Entries include boys and girls with parents such as ty eulliam and Ollie Bell, Lena Epstein, Hugh and Florence Henderson, Malcolm Wells, James McNerney, Harold Bennett, Elizabeth Queer, Zola Carragan, and others, alongside hospital names like Methodist Hospital.
A fragmented obituary-like list reports multiple death entries with ages and partial causes. Names include Elizabeth Hohman, Florence Fields, George Head, Frank Forth, Paul Baker, Ryan, Charles Banks, David Jackson, and Pier Beil with scattered addresses and medical terms.
A historical price list itemizes apples, berries, citrus, and tropicals with prices per crate, box, or basket. It includes California lemons and limes, Cuban pineapples, Florida mangoes, and Texas vegetables, with weights and crate formats noted for delivery pricing.
Wheat showed nervous, erratic moves while corn led gains amid rains in Oklahoma and Kansas delaying harvest. Springfield news on the Kessinger bill and McCarty warehouse bill buoyed prices, with cash markets steady to modestly higher and receipts listed for multiple grain categories.
Washington June 16 The Supreme Court ruled that mere size of a corporation does not show monopolistic intent in the government suit against International Harvester. The decision limits evidence of price control by requiring overt acts as the sole test, while discounting FTC information as hearsay. Justice Taft's era began the Harvester case proceedings.
Verbil Hinton 11 of 1342 Cornell Ave and Walter Hammonds 11 of 1335 Massachusetts Ave were injured in a collision involving two autos and a Terre Haute Indianapolis and Eastern interurban on the National Rd a mile west of Cumberland. Hamonds lost part of a arm. both boys were in a party of eleven heading to fish. Police said the crash occurred when a stopped auto with a punctured tire and a second auto skidded after a failed stop, sending the pair into the interurban. They were treated at Cumberland and then taken to city hospital.
In New York on June 16 Thomson and McKinnon discuss a long held belief that European demand reflects more than current needs. Political news recalls wartime cotton shortages, suggesting non producing nations hold large stocks as a strategic asset during times of trouble.
In the Sugar Market column dated June 16 a bearish mood is noted among traders and no longer in the trade, with Europe moving toward recent island months. Cuban sellers appear as investments wane, yet there are signs of new investment basing on the decline.
Local notes report on a Friday schedule of civic group luncheons and meetings including the County School Superintendents Association and Indianapolis real estate events. A playground accident injures a 16 year old, a Columbus woman recovers from suspected poisoning, and a fire damages a blacksmith shop.
Councilman Boynton J. Moore presented to the park board a petition from 1,200 supporters urging a south side playground near State and Minnesota streets rather than a north side park.
The park board this afternoon received bids for resurfacing Meridian Street between Fall Creek and 38th Street with oil asphalt.
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