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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
May 08, 1929
Page
5
Paul B. Pew of Union Carbide and Carbon Corp will conduct liquid air experiments and Scott Wade of Acetylene Products Corp will present an oxy acetylene demonstration at the Caravan Club luncheon at Murat temple on Thursday.
Market opened sharply lower on Columbia Graphophone after a Harbord Radio merger note but recovered as special issues led gains. Radio and other leaders held steady while Vick Chemical rose to a new high. U S Steel and Pan American saw fractional gains amid a generally mixed session.
Indianapolis reports May 8 bank clearings at 33.811 million with debits of 8.22 million. Chicago notes clearing house balance 4.6 million. New York records March 8 clearings 83.387 billion with 146 million balance and 144 million Fed credit. Treasury balance May 6 stands at 201.962 million with customs receipts to date at 9.481 million.
May action in New York stocks sees gains as traders react to early data and corporate results. Analysts, including Thomeer McKinnon, note broad participation across sectors with volumes up and key indices edging higher.
Wholesale butter sits at numbers 47 and 48 cents for No 1 and No 2 44 46c for butterfat 46 47c. Cheese wholesale prices shown with varying loaf and cream types, eggs buying prices delivered to Indianapolis with 37c loss. Poultry buying prices list hens 28 Leghorns 25c broilers 37c Leghorns 30c large 5c small 10 13c spring chickens 30c young toms 38c No 2 young hens 35c No 2 old hens 25c. Eggs receipts show extra firsts 29 4 29 4c firsts 2 ordinary 29 2 28c seconds 36c. Butter receipts 6 146 tubs extras etc. Fowls 234 24 29c ducks 24 30c geese 2er30c roosters 20 14e. Cheese Twins 21 21 15c Americas 22 22 42c. Potatoes 307 arrivals 117 in transit 75 market steady. Texas Bliss Triumphs 4.25 4.35 fancy 4.25 Louisiana 4.47 4.25 sacks.
Hogs ranged up to 15 cents higher with 160-300 pound stockyards trading around 11.40, top 11.50 for certain loads. Receipts about 5,500. bids softer in cattle. heifers strong. beef and pork prices listed for multiple weight classes. Chicago market opened slow to higher, loads of around 200 pounds at 11.35 to 11.40, assorted ranges for 130 to 350 pounds, with cattle and sheep receipts noted.
J W Kendrick age 17 of Meadow View Virginia died at Abingdon hospital from pistol wounds to the head after deputies fired at a car carrying Kendrick and two companions Monday night. Deputies Pat Crowe Worley and Abingdon patrolman McReynolds sought to arrest Paul Phelps and O Button on a disorderly conduct charge. They reportedly fired at the car tires when the youths refused to stop.
The federal reserve aims to tighten credit as commercial paper scrutiny increases and rediscounting privileges are restricted. Washington signals further rate tightening as reserves policy tightens conditions for market players. A prominent trader warned against bullish optimism, predicting continued weakness through Tuesday.
Burnited Press reports hog receipts and steadier prices across Pittsburgh and East Buffalo with specific weights and prices. Cleveland and Fort Wayne show higher hogs and steady cattle and sheep markets, including beef steer and veal price ranges and lambs around 14 to 15 dollars.
Charges of robbery and banditry were filed against Charles Thomas Northern 22 of 1014 Blaine avenue. A separate hold up involved a three chicken theft from a grocery delivery bay. Indiana speakers include Edward T. Miller and Dr. O L Stock with activities at the Columbia Club Y M C A and Bible Investigation Club.
Wheat futures fall to five year lows as foreign markets sag and demand remains weak. Liverpool prices slide up to four cents while Continental imports retreat. Corn and oats slip despite bullish cash and weather signals as freight reduction plans fail to lift prices.
Local market reports show aging grain elevators with bid prices listed as 1.07 dollars for red wheat grade and 1.02 dollars for No. 2 ard. wheat. The notice highlights price levels for buyers and sellers in the Wheat City area.
Fred Millis president of Millis Advertising Co denies misappropriation and failure to account in a National Retail Lumber Dealers' Association suit. He says the association's suit is a counter to a federal case filed April 15. He seeks $65,000 trust fund to reimburse $63,000 in ad expenses. Defendants include Aetna Investment Co Hercules Realty Studio Press.
Fresno reports that the state's largest fruit producers have merged to create a $15,000,000 organization. The consolidation brings together major companies in California's citrus and other fruit sectors, signaling a major shift in the agricultural business landscape.
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