Indiana daily times. [volume], September 21, 1920, Home Edition, Page 9, Image 9

About Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922

Image provided by: Indiana State Library

                
RAIL ISSUES
HOLD FIRM
After Opening Steady, Market
Shows General Losses.
NEW YORK, Sept. 21.—After early
steadiness the stock market developed
a reactionary tendency today, losses
generally ranging from, fractions to 2
points.
Baldwin Locomotive, after selling to
114%. dropped to 113%. Steel common
yielded % to 00, and Crucible Steel over
1 point to 128%.
Mexican Petroleum dropped 2 points
to 191.
Royal Dutch was offered freely and
slumped 1 to So.
Fractional losses were noted in the
other oils.
American Tobacco “B” rose 2 points
to 128% and United Retail Stores % to
71%*
United States Rubber declined 1% to
85%, Atlantic Gulf 1 point to 150 and
International Paper 2 points to 80.
Th© rails held firm and showed only
fractional change either way.
Chandler Motors fell 1 point to S4 and
Studebaker % to (5.1%.
There was free selling of motor stocks
and sugar In late trading. Willys-Over
land made anew low for the year at 14%.
The market tone turned strong after
the early, recessions and during the fore
noon prices rallied from 1 to 4 points.
Mexican Petroleum became prominent,
advancing from 191 to above 195.
Pan-American Petroleum sold up over
2 points to 95%.
All the steel shares were in demand.
Steel common rallying to 90% ; Baldwin
Locomotive over 1 point to 114%, and
Crucible Steel nearly 4 points to 133%.
There was a better demand for the rail
road shares. New Haven selling up to
35% and Union Pacific 1 point to 124.
The market closed weak.
(By Thomson &. McKinnon.)
—Sept. 21—
The fluctuations that occurred in the
market today were as a rule normal, and
while some declines were registered they
are not at all inconsistent with the char
acter of the rising prices.
'Reactions are natural.
The only really important point dis
closed In the day’s proceedings was the
passing of the dividend by the Central
Leather Company, and as a matter of
course this will be taken as the Indicator
of a bad state of trade.
But as we view the situation, the pass
ing of the dividend clears the atmosphere.
The bearishness of the leather trade
situation was of vital Importance when
the stock was selling double its present
quotation, and when the losses on inven
tories were a matter for the future.
The same reason will apply to other
lines of business.
The poor conditions are too apparent
to bo or any value speculatively.
We will no doubt have from time to
time weak points exposed to public view,
but all this must be considered in the
light of past liquidation and present quo
tations.
Technically, the market has undergone
some change recently.
This Is a natural result of an Increased
public interest and the corresponding de
crease of short commitments.
And this may result in giving us a re
action, but It will not necessarily change
the character of the market, which has a
better foundation than we have had in
many months, and should result ulti
mately in a bigger and a higher market.
AVERAGE OF TWENTY STOCKS.
NEW YORK, Sept. 21.—Twenty indus
trial stocks averaged 88.88, a decrease of
.93 per cent. Twenty active rails aver
aged 80.19, a decrease of .06 per cent.
CLEARING HOUSE STATEMENT.
NEW YORK, Sept. 21.—Clearing house
statement: Subtreasury debit, 5652,346;
exchanges, $932,638,249; balances, $69,692,-
104.
NEW \ORK LIBERTY BONDS.
—Sept. 21—
- Prev.
Hgh. Low. Close, close.
Liberty 3%5.. 90.14 90.02 90.04 90.04
First 4s 86.40 85.70 86.40
Second 4s 85.70 55.20 55.54 85.20
First 4%5. 86.70 86.06 86.70 80.00
Second 4%5... 85.76 85.36 85.76 85.44
Third ,4%5.... 88.90 88.2 88.84 88.48!
Fourth 4%5... 86.00 85.54 86.00 85.60
Victory 4%5.. 95.58 95.50 95.50 95.54
Victory 3%5.. 95.56 95.48 95.56 95.56
1
Honey and Exchange
„
Indianapolis bank clearings Tuesday 1
were $3,555,000, against $3,183,000 a week
ago.
NEW YORK, bept. 21.—Demand stot- j
ling opened at 3.50 today, off 1%. Francs
..0077, up .0003; lire .013, off .0001, and
marks 0.137, up .0006.
Foreign exchange closed easy. Sterling
demand, $3.48%, off 3%0; francs, .0673.
off .002: lire, .0433, off .002; lire cables,
.0674; Belgian francs, .0713, off .0011;
marks, .0157, up .0006.
NEW YORK, Sept. 21.—Money: Call
money ruled 7 per cent; high. 7 per cent;
low, 7 per cent. Time rates quiet, all Ski
per cent. Time mercantile paper was
quit. Sterling exchange was weak, with
business in bankers’ bills at 3.48% for
demand. . S '
MOTOR SECURITIES.
(By Thomson & McKinnon.)
—Sept. 21—
—Opening-
Bid. Ask.
Briscoe 24% 26%
Chalmers com i% 2%
Packard com 15 16
Packard pfd 78 82
Chevrolet 200 SX)
Peerless 32 34
Continental Motors com 8% 0
Continental Motor* pfd 05% 97%
Hupp com 15% 16%
Hupp pfd 98 101
Reo Motor Car. 23% 24%
Elgin M0t0r5..... 7 7%
Grant Motors 3% 4
Ford of Canada 330 340 :
United Motors.... 45 55 j
National Motors 8% 10%
Federal Truck 29 32
Paige Motors 24% 25%
Republic Truck 28 31
ACTIVE Oil. STOCKS.
(By Thomson & McKinnon.)
—Se*>t. 21— ' >
Bid. Ask.
Anglo-American OH 21% 22
Atlantic Refining 1175 1250
Borne-Scrymser 410 425
Buckeye Pipe Line 'r2 93
fhesebrough Mfg. Cons 220 230
Continental Oil, Colorado 122 127
Cosden Oil and Gas 8 8!4
Crescent Pipe Line 30 32
• 'umberlaud Pipe Line 140 VA)
Elk Basin Pete 8% 914
Eureka Pipe Line 112 ll
Galena-Signal Oil, pref new. 88 92
Galen i-Signal Oil, com 48 52
lUino.B Pipe Line 158 163
Indiana Pipe Line 90 94
Merritt Oil 15 15%
Midwest OU 1 ( lit
Midwest Rfg 154 156
National Transit 27 29
New York Transit 190 200
Northern Pipe Line 98 102
Ohio Oil 7 313 318
l'enn.-Mex 59 54
Prairie Oil and tias 585 600
Prairie Pipe Line 230 235
Sapulba Rcfg 5%
Bolar Refining 405 413'
Southern Pipe Line 124 128
South Penn Oil 215 280
Southwest Penn Plpe_Liues. 63 &s
Standard Oil Cos. of CaL 315 320
Standard Oil Cos. of Ind 722 723
Standard Oil Cos. of Kan 525 550
Standard Oil Cos. of Ky 305 375
Standard Oil Cos. of Neb 420 440
Standard Oil Cos. of N. Y 387 390
Standard Oil Cos. of 0hi0.... 430 450
Swan & Finch 79 go
Union Tank Line 123 127
Vacuum Oil 300 370
Washington Oil SO 35
NEW YOR KMETAL MARKET.
NEW YORK, Sept. 21.—Copper—Dull;
spot, September and October, offered
18.50 c; November, offered 18.45 c. Lead—
Spot and September, offered B.loc. Spel
ter—Quiet; spot and September, 7.90 c;
November, offered 7.90 c; December, of
fered Bc.
CHICAGO STOCKS.
(By Thomson & McKinnon.)
—Sept. 21-
Open. High. Low. Close
Carbide & Carbon. 67% 67% 60% 08%
Cudahy Pack. Cos.. 70 70 ' 69 69
■' lupptaoblle 10
J J bb / 13% 13% 12% 12%
Montgomery-W ard 32% 33 32% 32%
National Leather.. .10% 10% 10% 10%
Sears-Roebuck 139 139 137 137
Stewart-Warner ... 33 33 32% 32%
Swift &Cos 110 110 109% 109% j
Swift International 32% 32% 32% 32% ‘
Armour Leather... 15%
Quarterly Dividend
Is Not Declared
NEW YORK, Sept. 21.—The Central
Leather today passed the quarterly divi
dend of 1% per cent on common stock
usually declared at this time.
Since February, 1917, a regular quarter
ly rate of 1% per cent on common has
been maintained, In addition to 4 per
cent extra paid In 1917 and 2 per cent
extra in 1918, 1919 and 1920. The gen
eral depression in the leather and shoe
industries, and the desirability of con
serving cash resources were assigned as
reasons for passing the dividend.
PORK BOOM FAILS
AS CORN SLUMPS
Drop of 75 Cents at Chicago,
With $1 Break in Sight.
CHICAGO, Sepf. 21.—The boom In bog
prices at the stockyards collapsed today
with a sharp drop of 75c on the hun
dred following a break in the priffh of
corn on the Board of Trade.
Traders predicted a second break of
$1 per hundred tomorrow.
Top hogs sold early today at sl3, but
dropped to $17.25.
Heavy and mixed hogs experienced a
similar drop.
Cattle, sheep and practically every
branch of the market were also lower.
Indianapolis Securities
—Sept 21-
STOCKS.
Ind. Ry. & Light Cos 55 ...
Ind. Ry. <St Light pfd Do
Xndpls. & Northwest, pfd 75
Indpls. & Southeast. pfd 75
Indpls. St. Ry 67 70 .
T. H„ T. & L. pfd 56
T. H„ I. & E. com 1% 6
T. H., I. &E. pfd 3% 1
U. T. of Ind. com
U. T. of Ind. Ist pfd 10
U. T. of Ind. 2d pfd 2
Miscellaneous—
Advanee-lUlinely com 30 ...
Advance-Rumely pfd..., 59
Amer. Central Life 235 ...
Amer, Creosotiug pfd. ...... 83
Belt Railroad com 70 80
Belt Railroad pfd 47% ...
Century’Building pfd 95
Cities Service com 291 295
Cities Service pfd 66 66%
Citizens Gas 32 35%
Dodge Mfg. pfd.. 91% ...
Home Brewing 55
Indiana Hotel com 61
Indiana Hotel pfd 91
Indiana National Life 4% •••
Ind. Title Guaranty 59 71
Indiana Pipe Line 89
Indpls. Abattoir pfd 45 61
Indianapolis Gas....< 45 50
Indpls. Tel. com 7
Indpls. Tel, pfd 88
Mer. Pub. Util, pfd i
National Motor 9 12 )
Public Savings 2% ...
Rauh Fertilizer pfd 43 ... 1
Standard Oil of Indiana 722 ...
Sterling Fire Insurance ...
Van Camp Hdw. pfd 95 ...
VanCarap Pack, pfd 95 ... !
Van Camp Prod. Ist pfd 95 ...
Van Camp Prod. 2d pfd 95
Vandalia Coal com 5
Vandalia Coal pfd 10
Wabash Ry. com 9
Wabash Ry. pfd 33 ... j
Banks and Trust Companies—
Aetna Trust 100 ... j
Bankers Trust 118 ... i
City Trust 82 ... |
Commercial National 63 ... }
Continental Natl. Bank 112
Farmers Trust A. 200
Fidelity Trust 120 ... J
Fletcher Am. National 256
Fletcher Sav. Ac Trust 133 ... I
Indiana National 285 295 |
Indiana Trust 190 ...
Live Stock Exchange 4-V>
Merchants National 276
National City.T 112
People’s State 176
Security Trust 120
State Savings and Trust 91
Union Trust 340 370 ;
Wash. Bank & Trust 149 ... i
BONDS.
Broad Ripple 5s 45
CHtlzens St. Ry. 5s 73 82
Ind. Coke & Gas Cos. 6s S7 ...
Indian Creek Coal & Min... 98 ...
indpls. A Colum. South. 5a.. 89
Indpls. & Greenfield 5s 90 ...
Indpls. & Martinsville 55... 45
Indpls. & North 5s 56 41
Nndplps. & Northwest. 55.... 49
Indpls. A- Southeastern 45
indpls., Shelby & S. E. 5a.. ,-0
Indpls. St. Ky. 4s 57% 67%
Indpls. Trac. & Term. 5s 67
Kokomo. Marlon A Western. 80 85
Union Traction of Ind Os
Citizens Gas Cos 75
Ind. Hotel 2d 6s
Indpls. Gas 5s 72 80
Indpls. L. & II 75 82
Indpls. Water 5s 88 92
Indpls. Water 4%s 71 80
M. H. & L. ref. 5s 85 90
New Tel. Ist 6s 94 ...
New Tel. Long I)lst. 5s 93% ...
South. Ind. Power 6s 86
LIBERTY BONDS. '
Liberty B%g 90.04
Liberty first 4s 85.t*> ......
Liberty aecond 4s 85.26
Liberty first 4%s 86.00
Liberty second 4%s 85.08 85.88
Liberty third 4%# 88.80 89.10 I
Liberty fourth 4%s 85.90 86.20 ;
Victory 3%g 95.46
Victory 4%s 95.70 95.90 j
~ ■
In the Cotton Markets
NEW YORK. Sept. 21.—The Gulf storm
held the attention of traders at the start i
of the cotton market today and first I
prices advanced 4 to 17 points.
The market at New Orleans was strong
er, moving up about 23 points on reports 1
that the storm was due to reach the Gulf
coast tomorrow.
Room shorts. New Orleans and trade
Interests were apparently unmoved by
news concerning the English cosl labor
situation or the closing of the Old bam
Mills, and at the end of the first few min
utes the market turned strong and was
hbout 40 points over last night’s close.
New York cotton opening: October,
28.85 c; December 26.30 c ; January, 25.nee ,
M3rrh, 24.04 c; May, 23 33e; July, 23.05®
23.12 c.
Toward the close prices eased off and
final prices were 5 points lower to 5
points higher.
New York cotton range- -
Open. High. Low. Close.
October 28 85 29 45 28.75 28.76
September ... 26.30 26 65 20.10 26.10
January 25.00 25.30 24 <SO 24.85
March 24.94 24.48 24.03 24.05
May 23.35 23.85 23.35 23.38
NEW ORLEANS. Sept. 21.—Cotton
opened steady, 6 to 40 points higher
except for October, which was 8 points
lower on. reports of an approaching gulf
storm and advanred 26 to 40 points fur- j
ther. Later unfavorable cables and
New York selling caused a recession of
20 to 40 points below the opening levels.
The close was steady, 18 to 28 net lower!
New Orleans Cotton Range—
Open. High. Low. Close.
October 27.85 27.90 27.30 27.75
December..... 25.45 25.85 20.21 25.26
January 24.53 24.57 24.18 24.28
March 23.75 24.08 23.35 23.35
May 23.80 22.80 22.75 22.75
July 22.75 22.75 22.50 22.50
LIVERPOOL. Sept. 21.—Spot cotton was
slow today, with prices steady. Sales to
taled 3,000 bales. American middlings,
fair, 27.73d; good middlings, 24.98d; full
middlings, 23.23d; middlings, 21.48d ; low,
17.68d; good ordinary, ,14.23d; ordinary,
13.23d. Futures were dirttr -
CHICAGO PRODUCE.
CHICAGO, Sept. 21. —Butter—Creamery,
extras, 56%c; creamery, firsts, 53%e;
firsts, 4.8(555c; seconds, 43<g46%e. Eggs,
—Ordinaries, 4S®soe; firsts, 53%<354%e.
Cheese—Twins, 25%c; young Americas,
26%c. Live poultry—Fowls, 31c; ducks,
28c; geese, 23c; spring chickens, 32%e.
Potatoes—Receipts, 100 cars; Wisconsin
and Minnesota, $1.90@2.G5; Jersey Cob
blers, $2.35<g2.43.
CLEVELAND PRODUCE.
CLEVELAND, Sept. 21.—Butter—Extra
In tubs, 63®63%c; prints lc higher; extra
firsts. 62@62%h; firsts, 61®61%c; seconds,
57®58c; packing stock, 40c. Eggs—Fresh
gathered northern Ohio, extra, 61c- extra
firsts, 60c; Ohio firsts, new cases, 57c; old
cases, 55c; western firsts, new cases, 54c.
Poultry—Live, heavy fowls, 37®38c;
light. 30(g,35c; broilers, 346138 c; roosters,
23<g24c; spring ducks, 30®33c.
HOG PRICES
TAKE SLUMP
Hog Market Generally 10 to 25
Cents Lower.
RANGB OF HOG PRICES.
Good. Good Good
Sept. Mixed. Heavy. Light.
14. $16.60@ 17.25 $17.40017.75
15. 17.10@17.3R 16.75@17.10 17.40@17.75
16. 17.00017.25 16.50 @17.00 17.25@17.60
17. 17.25@17.60 16.00 0 17.25 17.40017.65
18. 17.75@18.00 17.00 @17.75 18.00@18.15
20. 18.00@18.15 17.55 018.00 18.00018.25
21. 17.85 @ 18.00 17.50017.85 18.00 015.61
There was a slackup in the advance
of prices on the hog market at the
opening today, when a weaker sentiment
on the market caused general declines
of 10 to 25 cents.
There were a few light hogs that
brought the top of $18.25, the top of
the Monday market, but that number
was much smaller than of the day be
fore and the s.les that brought $lB.lO
and 18.15 were few and far between.
The number of good heavy hogs was
less in comparison to the huinbfr on
the market of the dn.v before, while t’>a
number of good light hogs was about
the same In comparison.
The prices established at the opening
of the market held throughout the fore
noon trading.
hogs brought $17.83(318, and
heavy hogs brought $17.50®17.85.
Roughs were fully 25c lower than on
the market of the day before, while pigs
were about steady at $17.50 and down.
The bulk of sales was close to $lB.
Receipts for the day approximated
8,500.
Buying was of a general nature, and
more hogs were taker, by the local pack
ers than on the Monday market.
Kingsn & Cos., who were not mater
ially active In the market of the day
took 2,000 bogs, while the other
packers bought about their usual qjota.
The cattle market was dull with ap
proximately 1,000 cattle on sale and prob
ably 200 more to arrive before the close
of the market.
" Good grades sold at abont steady, but
the common and poor grades, which
were prevalent, were dull to weak, with
an over supply and poor demand.
Good calves were about steady with
the prices of the day before, but the
common and medium grades were 50 to
$1 lower.
There was an extreme top of $17.50,
with only a few calves selling at that
price and a general top of sl7.
Good calves brought $16@17; mediums,
sll® 14; and common and heavies s7® 10.
There were approximately 600 calves
on the market.
With heavy receipts at 1,000, sheep
were steady and lambs were 50 to $1
lower with a top of $12.25.
HOGS.
Best light hogs, 160 to 200 lh*.
average 18.00® 18.25
200 to 300 lbs average 17.5tf®1785 i
Over 300 lbs 16.50® 17.00
Bow s 15.00® 16.00 |
Best pigs, under 140 lbs 10.75® 17.50
Bulk of sales 1(*00
CATTLE.
Prime cornfed steers, 1,300 lbs
and up 15.005117.50 i
Good to choice steers, 1,200 to
1,300 lbs 13.754J1C.00
Good to choice steers. 1,100 to
1.200 lbs 11.504i14.00
Good to choice steer* 1,000 to
1,100 lbs 10.00313.00
Common to medium steers.
900 lo 1.000 lbs SAC® 10.50
—Heifers apd Cows—
Good to choice heifers 11.0C®1400
Medium heifers 9.00'1410.10
Common to medium heifers.. 0.50® 8.00
Choice cows 9.50® 11.50
Good to choice con 5....... * Kuo® 900
l air to medium cows 6 •'*'(4 7.54'
Canners 4.(Si® 4.50
Cutter* 6.76® 7.75 j
—Bulls—
Good to choice butcuer bulls 7.50® 9.00
Bologna bulls 6.50® 7.50
Light common buiis 4.60® 6.50
—Calves —
Choice veals 16 <X)-H 17.00
Good veals 15.00® 16.00
Medium veals 11.0@it16.00
Lightweight veals 7.00® 10.00
—Stockers and Feeders —
Good to -hoice steers. 880 lbs.
and up .. .. 9 004J10.00
Good to choice steers, under
SOO lbs .. 5.00® 9.00
Medium to gooif cows 5.5044 tl.on
Good cows 6 0014 7.00
Good heifers 7.004$ 8.(9)
Medium t" good heifers 6.75® 7.00
Good milkers BFOO® 125.60
Medium milkers 60.05® 100 00
Stock calve*. 250 to 450 lb*.. 7.00® 9.00
SHEEP AND LAMBS.
Good to choice sheep 5.0 ® 0.00
Fair to common 2.50® 3.73
Bucks 4.00® 4.50
—Lamb*—
Common to cholco y*arUngs. 5.00® G.OO '
Spring lamb# B.oo® 12.23 j
Other Lice Stock
CHICAGO, S>-pt. 21. Hog# Receipts,
18,000; market 17>y/25i- lower; bulk. $16.20
®l7 90; butchers, $16.7.V(j lH; [.ackers,
$15.75® 16.65; lignts, $16.73® 13; pigs.
$15.75® 17.25; rough*. $15.75® U 20. Cuttle
Receipts, ls. 'Kai, steers steady, other*
slow; beeves. $8.75® 17.85; butchers, $0.30
®14.75; canners and cutters $4.55®7.50;
stockers and feeders, ss® 12.25; cows, s(i®
12.50; rslves, SIS®IS. Sheep—Receipts.
27,000: market slow to lower; lambs, $8.25
®13.50; ewes, $3®9.75.
CINCINNATI. Sept. 21.—Hogs- Re i
ceipts, 1,300; market steady; heavy, $17.50 I
®!8; mixed and medium, $18: lights,,
$17.73; pigs, sl4; roughs, sls; *tag, sll.
Cattle—Receipts, 000; market steady; l
hulls, steady, $18®18.50. Sheep and
lambs —Receipt*. 1,4't0; market weak;
sheep, $1.50®6.50; lambs, SO® 14.
CLEVELAND, Sept. 21.—Hogs—lie-|
ceipts, 2.(*0; market g.ic lower; yorkers,
J 15.25; mixed, $18.25; medium, $18.25;
pigs. $17.25; rough-, $14.23: stags, $0.25.
Cattle- Receipt, 600; market slow to
dull. Sheep and lamb* Receipts, 400;
market slow: top, $13.50. Calve* —Re
ceipt*. 400; market lower; top, sl9.
EAST ST. LOUIS, 111., Sept. 21.—Cattle
—Receipts, 4,000; market slow; native
beef steers, $15.75®10 50; yearling beef
steers and heifers. $15.50® 10.50; cows.
s7®*: stockers anti feeders, s(i®'lo.r>o;
calves, $15.50® 16.25: canners and cutters,
s4®!l Hogs—Receipts. 7,000; market .15
®2o<- luuer; mired and butchers, $17.40
®16.03; good heavies. $10.50® 17: rough
henries. $13.50® 15.25; lights. $17.85® 18.05;
nigs, $11.50® li 75; hull,- of sales, $17.75®
IS. sheep Receipts. 2,600: market steady; j
ewes, so® s; Inftib.i, $12.50® 13; canto rs
and cutters, s2®<i.
EAST BUFFALO. Sept. 21 c,ittle-Re.
eelpts. 000; market sb-v.- ,md steady;
shipping steers, $14.50® 15,50; butchers;
grades, s9(tl4; cows, s3® 18. Calves Re
ceipts, 400; market active ami steady;,
nil[s. choice, ss®l9. Sh— p and lambs —|
Receipts, 2.800; market native nnd steady;
choice lambs, sl4® 14.50/culls fair, s9® i
15 75: yearlings, sß®9 50: sheep, ss®,B.
Hogs- Receipts. 4,000; market active: 1
yorkers, $1.5,t15 t 18.75; pig*. $15®18.25;
mixed, $18.65® 18.75; heavies, $lB 25®
18.50; roughs, sl4® 15; stags, ?9®ll.
PITTSBURGH, Sept, 21. - Cattle— Re- j
eelpts. light; market slow; choice sls®
15.50; good, $13.75® 14 5o; fair, $12.25® J
13.50; vetil calves, $1.8.50® 19. Sheep nnd
lamb receipts, Light; market steady;
prime weather;, sß.so®!'; good, $7.50®
8.25; fuir mixed, sti®o.3o; spring lambs,;
$14®14.50. Hogs Receipts 10 doubles;!
market lower; primo heavies, $17,75®
17.85; mediums. $1.8.60® 18.75; heavy I
yorkers, $18.U5@18.75; light yorkers,
$18.25® 18.50; pigs. $17.50® 18; roughs,
$15@15.25; stags, s9® 10.
WHOLESALE FEED PRICKS.
Ton sneltii. Cwt.
Acme brand $50.75 ' $3.05
Acme feed 69.75 3.05
Acme middling* 07.25 3.40
Acme dairy feed 72.00 3.65
F.-Z dairy feed 59.50 3.00
Acme H. A- M 55.(10 2.80
Acme stock feed 54.50 2.55
Cracked corn 61.00 3.10
Acme chicken feed 69.75 3.55
Acme scratch 66.75 3.40
E-Z scratch 62.75 3.20
Acme dry mash 70.75 3.60
Acme hog feed 68.50 3.43
Ground barley 06.00 8.35
Houilik, yellow 60.00 3.05
Rolled barley .•64.50 3.25
Alfalfa mol 04.00 3.25
Cotton seetj meal 65.00 3.30
GRAINS. /-
Shelled corn, small lots $1.45
Shelled corn, large lots 1.44
Shelled corn, 2-bu. sacks 1.52
Oats, 3-bu. sacks 79
Oats, bulk, large 72
Oats, less than 100 liu .23
Cbickenj wheat, cwt., sacked 4.80
INDIANA DAILY TIMES, TUESDAY, SEPTEMBER 21,1920.
Terse Market Notes
NEW YORK, Sept. 21.—The French
Liner Lafayette has arrived with $19,-
000,000 in gold consigned to the J. P.
oMrgan and Cos., as a part payment of
the Anglo-French loan.
Ex-secretary of the Interior Lane, af
ter making a comprehensive study of
conditions all over the country, declared
that the United States is on a sound
economic basis; that the business outlook
Is good and that there is a general spirit
of confidence in the future.
According to cables here, the Russo-
Polish armistice negotiations began this
morning at Riga, and It Is thought that
the outcome of the conference will have
much enfluenco on money matters.
(6) Grain.
CHICAGO, Sept. 21.—There are report*
that a gulf storm is predicted. Ordin
arily these storms produce rain far into
the corn belt and because of this, it Is
thought that the market will have further
rallies.
oFreign demand for wheat and relue
i taut selling by farmers have been so
j widely proclaimed that there is no pos
| eibillty of a short Interest in the market.
It is felt that important foreign coun
tries have supplied their needs until
southern hemisphere crops are marketed.
-r ~ 1
On Commission Row
The tone of trading on the wholesale
| produce market today at the opening
I was much stronger than tlint of the
Monday and opening of the week market.
As was predicted, the G. A. R. encamp
ment was not a mean 1 actor in the es
tablishment of a firmer tone, for the
thousands that came in had to be fed,
and to be fed tho food, or a great par
of it, had to come through the wholesale
market.
About the only noticeable change In
the prices on the market today wu* the
lower prices of peaches, although tho
peaches that came on the market were
not as good as those that have been
bringing higher price*.
Since the early fro*t that was predicted
did not arrive, tomatoes and other vege
tables that would have been killed by
the frosts are still coming on the mar
ket in material qualtltlcs.
There Is now a fairly good , supply of
<*hio American Beauty cantaloupe* on
the market. These took the place of
tho Rockj'fords that were on the mar
ket a few days ago.
There is a slight change for the bet
ter in the apple and other fruit supplies
; that are now coming ou the market, es
j peclally plums.
TODAY’S PUKES.
Apple*—Basket, SLS ®3.
Sweet Apple elder Per gal., $1; per
half gal-, roc.
Beans Navy in bag*, per pound, 7%®)
8c- California tlmas, in sack*, 13® 14c;
i Colorado pinto*, in bag*, per pound, 9%
! ®*%c; red kidneys, in bags, per pound,
I8®l9c; California pink chili. In bags,
per pound. B‘.*®B%c; jiutels, per pound,
15c; California red culll, la tags, per
pound, V*®*%c.
Beets—Fancy homo grown, per bu,
$1.73
Cabbug© Home grown, per brl., $2.
Bean*—Fancy home grown, per bu.,
$1.73.
Cantaloupe*—Fancy Colorado flats, per
crate. $130% 1.75; fancy hi-me grown
lionet dess, per crate, $230®3; Ohio,
American Beauty, per crate, $150®2.
Carrot*—Fancy homo grown, per bu., I
$1.50.
Celery—Fancy High Ball, per crate, $2.
Cucumbers —Fancy home grown, per ;
do*., 85c.
Grape#-Home grown, per lb.. <
California, white seedless, per 23-Ib. box,
$2.75®3; California Malaga*, per 25-lb.
box, S2.SO®U.
Egg Rinat -Fancy home grown, per j
do/., $1.25® 1.35.
Lettuce New York head, per crate,;
>2®2.30; fancy home grown endive, per,
do* , 4c*.’; fancy homo grow n head let-i
tuce, per bu., $2; fancy home grown leaf,!
per lb., 10c; jutr brl. lota, par lb.. Sc.
Onions Fancy home grows, yellow
per 100 lb. bag, S2.So; fancy Western, 1
ie’.low. per I<X) lb. bag, $3; extra fancy !
Indiana, whlto, per 160 lb. bag. $3;
fancy Spanish. per crate $250; fßncy
pickling, per 20-lb. box $1.50.
oranges Extra fancy California Va
lencia*. per crate, *6.60®8 50.
I’arsley Fancy homo grown, per do*.,
25c.
Reaches Michigan Alhertas. per bn.,
$3.25®3.50; New York Bt. Johns, per bu.. ■
s3®3 .50. aotne. grades, $3; other grades
a* low a* *1 stist2.so.
Rear* All kind*. $1.50®4 per bu.
Radishes Button home grown, per
do* , 25c; fancy long, per do*., 2.V.
Potatoes Fancy Eastern Cobbler*, per
150-lb. bag, $5; fancy Minnesota and
Karlv Ohio*, per 1501 b. bag, $4.50;
fancy Michigan, round white*, per 'l5O
- bag, $1.30. *
Sweet Potatoes—Fancy Virginia Red
Stars, bbl. $6 30{ per hamper, $2.52.
Spinach—Fancy horns grown, per bn,
Summer, per bn, $1.73.
Sweet Corn—Home grown, per do*, 1
20Uj 25e.
Tomatoes—Fancy home grown, per
bu, *l.
Turnip*—Fancy home grown, new.
per bu. $2.78. i
Watermelons Fancy Florida, each,
25® 50c.
Weather
The following table show* th# state of
the weather at 7 a.in.. Sept. 21, r.s ob
served by U. S. Weather Bureaus:
Station. Bar. Temp. Weather.
Indianapolis, 1*4,. . *0.32 fi# Cte#r
Atlanta. Ga 30.14 66 Clear
Ar’.arlllo, Tex 29.82 60 PtCldy
Bismarck. N. P ... 29.54 64 PtCldy
Boston. Mas* 30.32 56 Cloudy
Chicago, 111 30.03 70 Clear
Cincinnati, 0........ 30.11 60 Clear
Cleveland, 0 30.16 58 Clear
Denver Colo 29.66 60 Clear
Dodge City. Kan... 29.80 64 Clear
Helena. Mont 29.80 U PtCldy
Jacksonville, Fla. . 30.06 74 Clenr
Kansas City, M 0... 29.92 66 Clear
LuiisvHlo, Ky 30.14 66 Clear
Little Rock. Ark... ItOjOO 70 Cloudy
Lt Angelos, Cal... 29.84 60 Clear
Mobil*. Ala 29 98 74 PtCldy
New Orleans. La... 29.88 76 Cloudy-
New York, N. Y... 20.28 68 Rain
Neafelk 30.22 68 Clear
Okluhnmn City 29.92 66 Clear
Omaha. Neb 29.84 60 Clear
Philadelphia. Fa... 30.30 60 Clenr
j Pittsburgh. Fn 30 18 60 ' -Clear
! Portland, Ore 20.91 56 Cloudy
Rapid City. S. I*.. 29.54 72 Cloudy
i Ilosebiirg. Ore 30.00 , 40 Cloudy
Si;n Antonio, Tex.. 2990 70 Clear
i San Francisco, Cal. 29.92 58 Clear
St. Louis. Mo 1K).04 70 Clear
' st. Paul, Mlhu 29 80 60 Cloudy
i Tampa, Fla 29.98 / 76 Cloudy
Washington, D. t\. 30.26 58 Cloudy
WEATHER CONDITION*.
High pressure continues over most
eastern section*, while It is relatively low
between tile .Mississippi and the Ruck
les. A few- scattered showers have oc
curred from tlie upper Mississippi valley
:to New' Mexiis*. hut the weather over
most of the country has been fair. lf
is somewhat warmer generally over tho
; lenlral valleys, white the readings urn
lower west of the Great’ Divide and
frost was reported last night in south
western Idaho.
J. 11. ARMINGTON,
Meteorologist, Weather Bureau.
WHOLESALE PRODUCE.
Eggu—Freeh, loss off, 55c.
Poultry—Fowls, 30c; broilers, 1%®2
lbs, 34® 35 c; broilers, Leghorn, 30 e;
cocks, 17c; old tom turkeys, 35c; young
tom turkeys, 12 lbs and up, 40c; young
lien turkeys, 8 lbs nnd up, 40c: cull thin
turkeys not wanted; ducks, 4 IDs and
up, 25c; ducks, under 4 lbs, 18c; geese,
10 llis and up, 18e; young geese, 22c;
squabs, 11 lbs to dozen, $6; guineas, 2
liis per dozen, SB.
Butter —Buyers are paying 57@58c for
creamery butter delivered at Indianapo
lis.
Butterfat —Buyers are paying 56®57c
for cream delivered at Indianapolis.
Cheese (jobbers’ selling prices)—Brick,
30@31c; New York cream, 32c; Wiscon
sin -full cream, 31®33c; longhorns, 31®
33c; llinburger, 32®33c; Swiss, domestic,
00c; imported, $1®1.05.
LOCAL HIDE MARKET.
Green Hides —No. 1,13 c; No. 2,12 c.
Green Calves—No. 1. 20c; No. 2, 18%c.
Ilorsehides—No. 1, $6; No. 2, $5. Cured
' bides —No. 1,15 c; No. 2,14 c.
GRAIN PRICES
SUSTAIN LOSSES
Wheat Declines 8 Cents—Corn
and Oats Close Lower.
CHICAGO, Sept. 21.—Liberal receipts
with a light demand caused a sharp drop
in grain futures ou tho Chicago Board of
Trade today.
Wheat led in the decline, dropping from
6 to Sc.
Continued favorable crop weather for
corh caused a general weakness in the
trading In that grain.
Provisions dropped with the grains.
December wheat opened unchanged ni
$2.40 dropping 8 points at tho close.
March wheat was up %c at the’'open
ing, $2.35, later losing U%c.
September corn was off %c at $1.24 at
the opening and closed off %c additional.
December corn opened at *1.07%, off
%c and closed down another 2%c.
September oats off %c at the opening
of 58%c, later dropped 2%c additional.
December oats was off %• at the open
ing. 61%e, and closed down 2%c from
that quotation.
(By Thomson & McKinnon.)
—Sept. 21—
Wheat—The foreign demand for wheat
at the seaboard is again slow. This
condition has been reported so con
sistently for Several day* past that it
naturally creates the idea that urgent
needs abroad have been fully supplied
!at least until such time as Southern
I Hemisphere wheat is available. On top
jof this condition, it is to be noted,
‘ that offerings of Canadian wheat are in
! < reusing to a material extent, country
I loadings there being at the rate of one
j thousand cars daily. This wheat is
f considered worth more than our winter
I wheat for milling purposes. It Is quoted
!at even prices to a shudo lower. It Is
within the bounds of possibilities to
I understand that the American farmer
j may pursue the policy that is now be
j Ing enacted In corn vlx. liquidate.
Corn —The weather is now and has been
: ideal for what promise# to be the great
! est and beat crop ever grown. The pro
j dueer 1s evidently impressed with tin*
j condition a* the offering# of old corn re
j main of liberal proportions with very Ut
! tie haggling as to price. #
j Argentine corn is offered at the sea
! board at considerably less than domestic
! values. There Is no evidence of any
i break in the weafber. Because of the
I extreme decline, reaction* are to be ex
| pefed, but it develops that the market en
counters liberal offerings at ail times.
; Trend of prices seems still downward.
, Oats—There has been considerable
! selling’ of oats by houses with Eastern
i and with Northwestern connections. In
1 this market, as in wheat, tho Canadian
\ crop seems about to play an Important
; part. This grain is relatively cheap, but
this argument doe* not appear to Interest
Investors as the tone of the market Is
heavy
Provisions--Lower grain* and hogs
were the motive# in the provision list.
Scattered liquidation of September and
October appeared. Packing interests gave
some support ou the decline. New inter
est* are not entering the market on the
buying side.
CHICAGO GRAIN.
—Sept. 21—
WHEAT— Open. High. Low. Close.
Dec 2.40 2.40 2.31 2212
March.
CORN—
Sept.... 1.21 1.24% 121% 1.23%
Dec 1.07% 1.07% 1.03 1.00%
OATS—
Sept 58% 58% 56 56%
Dec 61% 61% 59 59%
PORK—
Sept.... 23.75 23.75 23.00 23 00
•Oct 23.00
LARD—
Sept 30.60 20 65 19.95 19 95
Oct 20.60 20 67. 19.Sy 19.73
RIBS—
Sept 17 30 17.23 17.05 17.20
Oct 17.30 17.70 17 05 17 --O
•Opened nominal.
CHICAGO CASH GRAIN.
CHICAGO, Sept. 21. — Wheat No. 1 red,
$2.53432.55; No. 4 red, $2.44; No. 1 hard;
winter. $2,454*2.47; No. 2'red hard wluter,
$2.43®2.t5; No. 1 northern spring. *2.00® ;
2 62; No. 2 northern paring. $2.454912-50; j
No. 3 northern *prtu*. $2.44. Corn No.
2 mixed. $1.22%®).23% ; No. 2 white, i
$122%® 124; No. 2 vel’ow, $123%®
1.24%; No. 3 yellow, $1.21® 1.22; No. 4
yellow, $1.19. Oat# No, I white, 7>9®i
59%e; No. 2 white, .55%®39%c; No. 3
white, 57®58%c; No. 4 white, 36%©%c,
TOLEDO CASH G RAIN.
TOLEDO, Sept. 21.—Close Wheat—
No. 1, $2.53; 1 ‘scomber, $2 46. Corn No.
2 veMow, $1.34® 125. Oats—No. 2 white.
61®*c. Rye No. 2, SI.SI. Harley—No
2, $1.09. Cioverseed -Cash, $14.85: Octo
ber, December, February. March and Jan
uary. s!*•. Timothy Fash, 1918 and . * DIB.
$3.3<); Scptemtier. $3.95; October. $3 70;
December, $3.00; March. $3.90. Alslke not
quoted.
PRIMARY MARKET*.
(By Thomson A McKinnon.)
- sept. 21--
Receipts—
Wheat. Corn. Oat*, j
Chicago 121,000 622,'5i0 275,000
Milwaukee .. 13.000 U7,i*<) 206.i*m
Minneapolis.. 2lO.ot*> 39,000 127,000
Duluth 986,000 .... 63.000
St. Louis 151,00 3f,i*K> 98,000
Toledo 33,010 11,000 TC.ujti
Detroit ....... 8,000 34.000
Kansas City. 100,000 0.000 24,000
Peoria 20.000 42,000 38,000 j
Omaha 184.00 62000 , tvt.noo i
Indianapolis.. 21,000 BU,uOO 94,000;
Totals 1,942,000 1,649,000 1,696,000
Year a g 0... 2.648,000 Goh.OOu 894.000
- .shipments
Wheat. Corn. Oat*, i
Chicago 258,000 43.000 104.000
.Milwaukee .. 16,000 34.000 67,000
Minneapolis... 40,000 12.00d 3U.0U0 j
Duluth 481,000
St 1 A>uis 171,000 54,000 117.000,
Toledo 2,000 7.>W
Detroit 4.000
K 1111*11* City. 190,000 8.000 29,000
| Peoria 6.000 11,000 „ 32,000 !
Uinatia ....\. 74.000 2n,000 21,000
liidlauupolls.. 13,000 OO.uOO 22,000;
Totals 1,241.000 213,000 445,000
Year ago.. .19.30.000 199,000 551,000
—Clearances—
Dora. W. Corn. Oats.
New York 249,000
Philadelphia. .. Ol.tSlO
Totals 540,0000
INDIANAPOLIS CASH GRAIN.
Bei t m
Rid* for car lots of grain nnd hay at
the call -of the Indianapolis Board of
Trade were:
Wheat—-Easy; through billed, track,
milling. No. 2 red, $2.00®2.51.
Corn-No. 3 white, $1.16® 1.17; No. 3
yellow, $1.14%® 1.15%; No. 3 mixed,
$1.13%®!. 15.
tiuta—Easy; No. 2 white, 58%®59c;
No. 3 white, 57%®58c; No. 2 mixed, 55%
®56%e.
Hay—Weak; all new; No. 1 timothy,
S:2o.s<>® 30; No. 2 timothy, $28.50® 30;
No. 1 light mixed, $25®23.50; No. 1 clo
ver, s2B® 28.50.
Inspections—
Wheah— No. 1 red, 1 ear; No. 2 red,
6 ears; No. 3 red, 1 ear; No. 4 rod, 1 car;
No. 5 red, 2 ears; total, 11 ears.
Corn —No. 1 white, 2 curs; No. 2 white,
7 cius; No. 3 white. 2 curs; sample
white, 3 ears; No. 2 yellow, 20 cars;
No. 2 mixed, 2 ears; No. 3 mixed, 1 ear;
total, 37 ears.
Oats—No. 2 white, 30 ears; No. 3 white,
2 cars; No. 4 white, l car; sample white,
1 ear; total, 34 ears.
Rye No. 2. 1 ear.
Hay—No. 1 clover hay, 1 car,
CORN AND WHEAT BULLETIN.
For the twenty-four hours ending at 7
n. m., 90th meridian time, Tuesday, Sept.
21 t
temper
ature.
Stations of SSI’S o £
Indianapolis # S £ •§ ?
District % *
2 j su , -” a 55
South Bend I 83 I 58 0 I Good
Angola 74 54 0 Good
Ft. Wayne I 84 ] 54 0 | 5,.
Wheatfield j9O 60 0 1 Good
Royal Center
Marion 86 37 0 Good
Lafayette 87 63 0 Good
Farmland 87 57 0’ Good
Indianapolis .... 86 64 0 Good
Cambridge City.. 90 50 0 | Good
Terre Haute 86 64 0 Good
Bloomington 89 54 0 ! Fair
Columbus .88 54 0 | Fair
Vincennes |
Puoll I j
Envqsville [9O 68 0 1
.T li. ‘
Meteorologist* AVeather Bureau.
• '
FINDS DEARTH
OF SPEAKERS
Political Conventions Cited as
Examples of Decline.
WASHINGTON, D. Seut. 2L—De
spite the facts that one of our esteemed
presidential candidates has been swing
ing round tho circle with his mouth open
and a continuous stream of invective and
eloquence Issuing ; that the
other has been standing on his front
porch in the same attitude and engaged
W the same occupation; that the woods
are full of stump speakers; that you can
get a man in any town of a thousand or
more inhabitants to speak on any sub
ject whatsoever at any desired length;
•hat when the United States went to war
it put through a draft law to get men
to fight but produced an army of vol
tinder orators by the mere raising of
u governmental finger; that there will be
11,256 banquets given in the United
States this year, and that from three to
seven orations will be delivered at each
without the aid of any other stimulant
than such as the speaker can bring inside
his person; and that these orations will
have to be listened to without the aid
of any anesthetic stronger than tobacco—
Despite these and many other facts
of a similar nature which might be
cited, it may be stated with conserva
tive accuracy that the great art of ora
tory, which traditionally makes men
laugh nod cry, decides the destinies ol
[“nations add sells life insurance and real
I estate, is In for a decline.
AVhat, > r ou naturally Inquire, is the
evidence of this decline?
It is hard to get a cook or laundress
ior a man to mow the lawn.
The crops rot for lack of men to
harvest them.
But It Is still easy to get a man
to speak, and it 1* still hard to get
him to stop speaking.
ORATORS IN THE MAKING
BY CORRESPONDENCE.
Furthermore, |tho magazines are if all
of the advertisements of correspondence
schools that guarantee to make you a
forceful and eloquent speaker In seven
lessons, and young lawyers all over tho
couutry' are reaching their hair and
practicing Daniel Webster gestures be
fore the looking-glass as of yore.
Certainly the supply of oratory le
not being cut off at its source.
And the main taps of eloquence still
flow.
The Congressional Record waxes fat
ter and more flowery every year. '
The speaker less banquet is still a mil
leuial dream.
Each school and college commencement
is as ever the occasion for a great
of amateur and professional platltudinis-
No question—municipal, Btk) or Na
tional —in the Halted States can yet be
fettled without the water pitcher and
the wind-bag.
And yet, as intimated aboAe, there Is
reason to believe thet oratory It cn the
wane.
The evidence of this decline Is not to
be found among the orators.
They are as numerous, as willing, as
mellifluous as ever.
The Indications of change are to be
seen in the audience.
The American people are slightly but
unmistakably less receptive to gesture
and peroration, to the pathos of the low
ered voice and tba sweeping power of
the ikuomlng period, than they used to be.
Our late lamented national conventions
are an example.
There wau just as much spell binding
as ever, and It was greeted, at the time,
with Just a* much applause. "
But the applause at a political conven
tion is as sure as the coming of spring
It is a highly organised performance,
pulled off according to schedule.
The attitude of the general public as
reflected in the newspapers must be taken
into account
In cartoon and editorial and even In
the new# columns, much of this oratory
wa# referred to in a manner not wholly
respectful and greatly to be deplored.
It was even in some instances labeled
bunk.
Anti consider the character of the men
who were sent to write up these conven
tion*.
They uaed to bo reported with the ut
most dignity by men who themselves bad
an aptitude for th rolling phrase, and
who perceived that politics is sus of the
most serious concerns of life.
But when newspapers of high standing
send to the greet national conventions .
such Irrepressible Jesters as Ileywood 1
Broun and H. L. Mencken and Atm :
Martin auil King W. Lardner, and allow j
these impertinent fellows to gibe and j
titter as they will, there la evidence of j
a change lu the publta attitude toward ■
political oratory to which the great !
dallies are slavishly catering.
Many minor evidences of this same
change In public sentiment might be
cited.
Orations do not draw the crowds that
once they drew, nor the tears, nor yet the
cheers.
There Is s growing tendency for an- i
dlenrea to show signs of ths prevailing 1
unrest wlen the orator draws a fresh j
breath and says; “Now, ladles and !
gentlemen, I have one more point to :
offer for your consideration.”
This piece 1* a lament, as It should be. j
America's greatest and moat Indispu
tably Indigenous art la threatened.
We do not produce as good writers as
other civilized countries, nor as good
painters.
In scientific discovery the other great
nations outrank us.
Their diplomats politely take away
from ours whatever we may have that
they want.
But In oratory, what great nation can
compare with America?
Where can you discover the counter
parts of William Jennings Bryan and
Billy Sunday?
And what our orators may lack'' In
quality they make up In numbers.
It is a fact of statistical standing that
no other countries on earth produce more
orators per thousand pf population, ex
cept Mexico and Liberia.
And yet It may be that this faintly
threatened decline of a great national art
and pastime is not without Its compen
sations.
Psychologists tell us that as a method
of considering important questions, pub
lic speaking to large crowds has a fun
damental weakness.
This weakness Is that the orator has
•tn overwhelming tendency to say, not
what he thinks, but what the crowd
wants to hear. In the solitude of his
study he may be a sincere and Intel
ligent man. }>ut when he gets on the plat
form he Is possessed by the single dc
slrp to "get n hand.”
He will say anything to that end and
purpose.
Uis thinking all goes for naught. And.
as a eorallary of this proposition, the
man who docs not think often makes a
better orator than the one who does.
If a hnan really has anything to Im
part he can write it a great deal better
than he can say It.
It Is true that the world has produced
great orators, from Moses and Cicero
on down.
But if you will examine Into the orat
ing of these gifted ancients, you will
learn that they spoke, not to great mobi;
of people, but to small, select and crit
ical audiences of their peers.
Thus Cicero’s careful and precisely
logical discourses were delivered before
the Roman Senate —a small and highly
sophisticated body.
It Is the audience that makea the ora
tion.
And when the audience Is a great gath
ering of men, most of whom feel but
do not think, and who arc welded Into
ft mob. the oration becomes a mere tell
ing of funny stories, a making of
resonant noises, a shouting of tribal
shibboleths.
A typical Amartoan political speech la
a lineal descendant of the war-whoop
and a blood brother of the college yell.
It has no more affinities with logic
and common sense than a popular song.
For proof of this listen to a few ol
them.
CONSTRUCTIVE MEN
NOT ORATOR&.
Nor have xne really graet and con
structive Americans ever been orators.
Our great orators without exception
have talked tliemseives into oblivion
without achieving any position of high
and lasting power.
Witness Henry Clay, Daniel Webster,
Rosocoe Conkllng. ”
They all wanted to be President and
talked themselves out of the job.
.George Washington was no orator.
When he had to make a speech he
wrote it out carefully and briefly and
often be had someone else write It for
him, showing that he assessed speech
making at its true value.
Lincoln was not really a great speaker
either. --
When he campaigned for the Presi
dency many of his speeches made a
poor Impression.
All of his so-called great speeches
are brief and highly finished literary
productions—the product f>'f solitude.
The Gettysburg address is only a few
hundred words in length, was written
and revised many times, and when de
livered before a crowd produced no ef
fect whatever.
Long afterward, when discriminating
people read It over it was discovered to
be a classic.
MOVIE OUTPUT
IS DECREASING
U. S. Copyright Division Gives
Interesting Information.
WASHINGTON, D. C.. Sept. 21. |
With the motion picture business appar- ;
ently going at high speed, a look into
the copyright division of the United
States Patent Office reveals the fact
that since the war there ha* been a
great falling off in the production of
motion picture#.
This may be due, of coarse, to the
fact that photoplays have accumulated
; until production at high speed is no
longer necessary, or It may be that high
costs of production have made the pro- i
llfic film company a little less so.
It may be the beginning of decline in
the great popularity of the firm, or It
may be a healthy tendency to check
waste production.
Whatever they may mean here are
the figures:
In 1913 and 1914, the number of photo
plays registered was 2.039 and iff 1918
and’ 1919 it fell to only 1.295.
The decrease is about 73 per cent.
Surely this is significant, but it would
take a inov-e expert to interpret it.
The war seems to have lefl Bevcra? lines
of so-called artistic production in slight-j
j ly less active state than they were be- j
: fore the war.
The number of musical compositions
i copyrighted, for example, is also on the
wane, though it is not anything like the
falling off in screen scenarios.
In 1913-1914 the number of musical:
compositions copyrighted was 28,493, j
while in 191 S-1919 the figures were 26,209.
The number oj books annually pub
lished is holding up. according to the
copyright records, despite the fact that J
the cost of making a book in this coun- j
try has multiplied and that publishers j
have been reported for several years as j
cutting down their lists.
We would like to believe the publish- j
ere, but the copyright figures show that ;
in 1918-1919 there were 37.710 books copy- ’
righted in the United State# as against
only 31.891 In the year before the war. j
The figures for last year show that!
about 106 books were offered the public j
every day in the year.
Where do ail these books go, you won- j
def.
You see a good many books advertised ;
and reviewed, but not anything like this j
number.
The answer is that the vast majority j
of books are failures which make almost
no perceptible stir in the world, but die
peacefully and obscurely before the ink
Is dry.
The great majority of books never sell
a thousand copies.
A book that sell* two thousand is con
sidered a modest success, and one that ;
sells ten thousand, even a novel, a de- j
elded success.
Th# books that run into hundreds of
thousands are as relatively rare as the j
men whose fortunes run into such fig- j
ures.
And fewer and fewer novels sell in j
such great numbers these dnys.
Novels havs smaller circulations than
they used to hare.
Th# people read more non-fiction books.
And tho lists from libraries show that
the non Action books they read are of
much better quality than the novels,
rHOSE WILD OLD
TALES ARE STRONG.
American publishing houses hare long
Hade a specialty of publishing certain
ype* of novel* which they believe the j
mbllc wishes, osrperlslly Western stories J
with bad men and cowgirls, detective
stories and sentimental love stories.
Th* writing, no less than the pub
lishing and selling of such books, has
become a perfunctory and highly or- |
gsnized busiuess like production nnd dis- j
tribution of soap.
The books have become more and more
artificial and hollow every year.
Yet such books are still'’ profitable, if |
only because of the great organizatio I
which exists to sell them, and any noi( j
which doe# not accord with their shrp- j
worn standards has a hard time getting
into circulation.
Asa result of this condition, the 1
people are beginning to turn away from
the flction-Thusli factories and read non- I
fiction books.
At the same time they display a |
slightly greater tendency to find and
read the novels of authors who do more
original work. •
All of this vast flood of books, which
goes through the copyright office every
year, finds a resting place in the Li- j
brary of Congress, if nowhere else.
Two copies of every book copyrighted !
in this country are sent and kept there, j
The result is that the Library of I
Congress has become the greatest col- j
lection of unchosen and unassorted works j
in the world.
It contains mountains of stuff which ,
no one has ever read and which no one '
ever will rend, but at the same time, it
has a peculiar value.
You can find things in the Library of
Congress that you could flud nowhere ;
else.
Suppose, for example, that you wish
to learn something about life in Mon
tana in the late seventies.
Here you can find the queer county
CENTRAL STATES AGENCIES
Incorporated under the laws of the State of Indiana
Financial Brokers and Underwriters
Phones tHse 615 to 618 Lemcke Building
i ■ i ' —■—*
Wo are pro- g A Aj on farm and
pared to make ILvMl'iO city property
THOS. C. DAY & CO. 7 ?£V*b Wg~
SELL GOMMOJi AND PRKIEBHED
h 415 tEMtKE li 1,1)0. *
histories, the old travel books and such
like works, which perhaps contain tho
only detailed ■'information in existence on
the subject.
When you learn that since 1897 the
number of books copyrighted in this
country is 1,077,413, you realize some
thing cf the proportions of this store
of material.
It is an impressive experience to wan
der through the stacks of thie great
library.
It is a veritable literary catacomb.
Here, embalmed In silence and dust, is
the literary history of a nation.
And every one of these little chunks
of paper, most of which have been so
long forgotten, many of which have
never been noticed at all, sometime rep
resented to someone inspiration and
hope and toil.
The musical compositions are a close
second to the books in numbers, nearly a
million of them hsving been copyrighted
in the same length of time.
Photographs come along close behind
the -songs with more than half a million,
while of prints and illustrations there
are nearly 400,000.
Few people understand the nature and
extent of copyright protection In thflk
country.
It began in 1753, when It was regarded
as a matter for State rather than Federal
control.
Naturally this did not work at all.
A thing protected in one State could
be pirated *in all the others, while to
get protection In all States was a long
and expensive business.
In this way the doctrine of States’
rights got one of the first of its many
set-backs, for in 1790 Congress made
copyright protection a Federal function.
Since then the Jaw has grown and ex
panded in a bewildering way, the most
important single step being the estab
lishment of international copyright.
NEW TOBK CURB.
(By Thomson A McKinnon.)
Curtis Aero, com i.. 2% S
Curtis Aero. pfd. 20 *0
Con Ner. Utah 9 12
Sub Eoat 12 13
First National Copper % 1
Goldfield Con 8 10
Havana Tobacco 1 1%
Havana Tobacco pfd 4 8
Cenferesa 5 6
Jumbo Extension 32% 34
Nipissing * 9% 10
Indian Pkg 4% 6%
Royal Baking Powder 110 120
Royal Baking Powder pfd.. 83 85
Standard Motors 7% 8%
Salt Creek 88% 34
Tonupah Mining 3% 15-10
United P. S. new 1% 1%
U. 8. Light and neat 1% 2%
U. S. Light and Heat pfd...„ 1% i
Wright-Martin 4 7
World Film %
Y'ukon Gold Mine Cos 1%. 1%
erome % %
New Cornelia 16 18
United Verde 29 81
Sequoyah ....3-16 6-16
Omar OU..- 3% 3%
Rep. Tire 2 2%
HAT MARKET.
The following are the Indianapolis
prices for hay by th# wagon load:
Hay—Loose timothy, new, s27® 28;
mixed hay, new, $26®28; baled, $27®29.
Corn—Bushel, $1.44>®1.45.
Oats—Bushel, new, 60®63c.
WAGON WHEAT. -
Indianapolis flour mills and elevators
are paying $2.40 for No. 1 red wheat,
$2.37 for No. 3 red wheat and $2.34 for
No. 3 red. Other grades according to
their _
THE only nse
some fellows
have for a watch is
to see how late they
are. ;
Act promptly aft
er reading the Times
VTant Ad bargains
before they are
snapped up by
the other
fellow.
FOR AN AD OF
YOUR OWN
Phone Main 3500
Auto. 28-351
__ v.;
better understanding of the great sub
j| j*ct of investing. Wo will gladly send
| you a copy free.
| INVESTMENT BANKERS
j 137 So.LtSal-Ic St. - Chicago, 111, f
9