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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
May 28, 1923
Page
2
Market sentiment improves after a weekend downturn as New York Central hits a new high on dividend news. Rails lead early gains with Atchison Union Pacific and Atlantic Coast Line rising on April earnings, while industrials slip on profit taking.
In the Marion County Probate Court May term 1923 notices issued for estates of Warda A McNay George Bowlus Anna Ambruster Albert D Swartz Herbert Spellman Laura E Holtz O Neill executors and administrators presented final settlement accounts and vouchers for examination on June 23 1923 heirs creditors legatees must appear and show cause why approvals should not be granted.
The May 28 stock rundown notes a broad decline led by industrials amid profit-taking by professionals. The retreat follows last week's rally and large quarterly earnings influence, with no panic selling but a shift to profit realization.
Indianapolis banks reported Monday clearings of 3 254 000 dollars with debits of 6 174 000. In New York the foreign exchange market opened irregularly with sterling at 4.62 and 4.62 cables, francs at 6.62 and 6.63, marks at 60.61 per dollar, Swiss at 18.02 and 18.04, and other currencies shown with varying bid and cable quotes.
The curb opened strong with prices at their peak for the current recovery but soon eased. Standard of Indiana rose to 61% before retreating to 60% and Vacuum slipped from 48% to lower, while Standard of New York fell from 40.4 to 39%. Maracaibo stayed around 25 and a fraction amid light industrial activity. Durant showed early demand then moved from 53% to 52%.
Fresh eggs 22c and packing stock butter 25c lead a detailed market summary from Indianapolis. Chicago reports butter receipts 17,573 and fowl prices. Cleveland notes butter and poultry ranges. New York shows flour, pork, coffee, tallow, and eggs with varied regional quotes.
Swift and Co announces dressed beef wholesale prices for various cuts. Rib No 2 and No 3, rounds No 2 and No 3, chucks No 2 and No 3, plates No 2 and No 3 are listed with per pound prices ranging from 6c to 24c.
In Bycene May cotton futures rise with May at 27.25 cents up 12 points, October at 24.83 cents up 14, December 24.38 cents up 15, and January 14.12 cents up 12, signaling a broad price uptick in the market.
At the Chicago Board of Trade on May 28 grain prices closed irregular with wheat at new lows on a decline while corn rose. Oats fell slightly as liquidation remained active. Cash buyers and commission houses operated in declines, livestock shipments cut feeder demand and outside cash demand was weak. Provisions stayed weak amid favorable crop reports.
Chicago grain table shows primary receipts for May 28 with wheat 1,111,000 compared with 1,494,000 last period, corn 688,000 vs 1,881,000, oats 532,000 vs 1,000,000. Shipments list wheat 390,000 vs 602,000, corn 365,000 vs 468,000, oats 509,000 vs 949,000. Lot reempte figures: wheat 18, corn 54, oats 74, rye 2, barley 9.
Indianapolis bids show wheat at No. 2 red around 1.23 to 1.24 dollars, corn varied by grade with No. 3 white near 75 to 76 cents, oats about 40 to 40 and a half cents, and steady hay around 19 dollars for No. 1 timothy. Chicago lists wheat at about 1.18, corn near 78 to 79 cents, oats 43 cents, and barley around 66 to 70 cents with rye up to 6 dollars. St Louis notes wheat around 1.17 to 1.30, corn 82 to 84 cents, oats 41 to 43 cents, and hay prices near 20 dollars. Toledo lists cash wheat 1.52 to 1.33, corn 85 to 87 cents, and forage prices for clover and timothy.
The Kansas wheat crop is estimated at 99 583 000 bushels versus a government guess of 115 000 000. Hessian flies damaged Missouri crops near Springfield in the last two weeks. Traders expect higher wheat shipments as Southwest harvesting nears. corn acreage grows amid high prices. French wheat yield declines 28 percent due to rain and cold.
Cloverseed was quoted seven dollars ten cents a bushel in Indianapolis today indicating a steady market tone for the crop. Traders watched price movements and regional demand as the season advances.
Officials of Consumers' Coal Company say the safe in their Kokomo Indiana office was never locked in seven years. Thieves spent most of the night chiseling at the lock but failed to secure the safe.
Loose hay sells for 19 dollars per 20. bales 18 dollars per 20. Heavy mixed hay 18 to 19. light mixed hay 18 to 20. Corn price 90 9ic? Oats at 50 to 65 cents.
Local mill offers a price of $1.23 for No 7 wagon wheat. Farmers consider market signals and current demand as they weigh deliveries.
Heavy receipts at primary market centers caused a hog price slump in trading at the local livestock exchange. Bottom price fell to 7.65 from 7.75, with top at 7.75 and hogs sold between 7.65 and 7.70. Cattle and calf markets remained active with steady to weak pricing amid ample supply. Spring lambs and sheep traded steady on light receipts.
Mrs. Joanna K. Davis, 68, died Sunday at her daughter's home in Colorado Avenue. Last rites were held at 1 30 p m today, with burial to follow in Danville, Indiana. She and husband William T. Davis operated flour mills in Danville and Coatesville. Survived by husband, son Virgil L. Davis of Indianapolis, two brothers Samuel Moore of Indianapolis and William Moore of Peru, and sister Mrs. Sarah Fields of Kokomo.
Chicago hog receipts reach 73 000 with prices mostly down 25 cents. Cattle receipts 27 000 show slow trading and lower bids. top steers at 10.60 while heifers and cows ease. Sheep receipts 18 000 with prices about 50 cents lower. Other markets report mixed activity and price shifts for hogs cattle and sheep across East and West regions.
C W Barron writes from Germany disputing press claims France dictates German manufacturing policy in the Ruhr. He says French forces aim to disrupt communications not operate mines or factories while Germany keeps lines open and may counter sabotage. Berlin shows idle railway workers and piled goods due to high costs and taxes.
Preston Wilson, 20, formerly called Jack Smiley, of 110% W Sixteenth St, was arrested earlier on vagrancy charges and was today restated by Detectives Brickley and Finneran on burglary and grand larceny charges. Officers allege he stole two suits and a top coat.
A long ledger shows numerous marriages with names and ages headed by Ora Coffey and Elsie Fleener both 843 North Capitol. Entries include H W Coffey and Mabel Rasener of Greenfield, and Clayton Rea with Cleo Widup among others. The document records partners with ages and street addresses, spanning many neighborhoods and extents of the city.
The notice lists many decedents with ages and addresses including Jonna Avis 60 Colorado cerebral hemorrhage. Bernhard Mater 72 diabetes. Raye Hawk 25 pulmonary tuberculosis. Robert Fautkerson 68 acute myocarditis. Francis Bourguin 86 hypostatic pneumonia. Mary Underwood Poyntz at St Vincent Hospital atelectasis. Sarah Elizabeth Shields 50 lobar pneumonia. Frederick Krave 82 chronic myocarditis. Mary Elizabeth Binco newborn 5 hours premature birth. Phillip Bauer 69 cerebral hemorrhage. Elizabeth J Newcomb 1 cardiac dilatation. Elizabeth P Bauer 56 pulmonary tuberculosis. Iona Allen Duncan 3 months skate capillary pneumonia. Minerva Blankenship 42 cerebral hemorrhage. John W Sullivan 51 cirrhosis of liver. Harry James Van Buskirk 9 hours precocious birth. Mary Elder Bischietge 45 chronic parenchymatous pope. Sophia Anantua 2 pneumonia.
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