Indianapolis Times, Volume 40, Number 220, Indianapolis, Marion County, 1 February 1929 — Page 28

PAGE 28

NEW RECORD IN LOANS FAILS TO DROnHARKET Rails Gain Fractionally; Motors Also Make Advances.

Average Stock Prices

Average of twenty industrials Thursday was 317.51. up 4.91. Average of twenty rails was 158.54. up 3.28. Average of forty bonds was 95.93. up .01. BY ELMER C. WALZER Inited Press Financial Editor NEW YORK, Feb. I.—Stocks ad\anced fracilonally at the outset of trading today despite the overnight, news of an increase of $116,000,000, in brokerage leans, bringing the total to anew record at $5,559,000,000. Prospects of easier money in the near future as mirrored by a decline in time money rates bolstered up sentiment. Today’s payments of nearly $400,000,000 in interest and dividends were not expected to be felt in the loan market until next week when checks will be presented for payment. Rails continued to advance and motors, coppers and special issues like Electric Auto-Lite were in demand. General Motors rose to 83%, and fractional advances were made by Hudson and Hupp. Chrysler lost % to 114. A gain of more than a point was made by Canadian Pacific, while advances ranging to a point were made by Missouri, Kansas <Sc Texas, Erie, Atchison, B. & O. and New Haven. New York Central opened slightly lower, but later advanced to within a shade of its high of 200, made Thursday. Chesapeake & Ohio rose nearly three points to 323. Wright Aero nn up 3% points to 275, and Warn'.-r Brothers gained 2% to 131. Atlantic Refining featured the oils, rising to 60, up 2 points. The company just issued its report for 1928. showing $7.72 per share earned on 2,000,000 shares, compared with $1.83 on 500,000 shares in 1927. Sinclair also firmed up, as did several others of the oil group. American Smelting rose a point to 118, Anaconda, 114 to 126*4, and Kennecott, % to 160 Vs. Stockholders of Kennecott meet today to vote an increase in capital and to approve a five for one split in the stock. U. S. Steel held steady at 1831S, unchanged. Rubber shares were strong, featured by Goodyear and Goodrich.

Banks and Exchange

. C, J? b * nk clearings figures, as riven in The Times dally, are checked carefully and always are correct, barring possibility of typographical errors. INDIANAPOLIS STATEMENT Indianapolis bank clearings, Friday, Feb. 1, $3,809,000; debits, $8,192,000. NEW YORK STATEMENT Bu United Press NEW YORK, Feb. I.—Bank clearings, $2,088,000,000; clearings house balance, $165,000,000; federal reserve bank credit balance, $157,000,000. TREASURY STATEMENT Si/ United Press WASHINGTON, Feb. I.—The treasury net balance for Jan. 30, $132,476,880.86; customs receipts Jan. 30. $43,154,174.10.

In the Stock Market

(By Thomson & McKinnon) NEW YORK, Feb. I.—All interest this morning centers in the brokers loans statement. It was larger than expected, but finds logical explanation In new financing during the week in the form of bond issues, totalling close to one hundred million dollars. The changes in the weekly federal reserve statement are unimportant and thirty-day funds are in better supply at a slightly lower rate. We anticipate rather extensive profit-taking over the week-end in preparation for the Stock Exchange brokers’ loans statement, although we still feel that the rails should give an excellent account of themselves.

Commission Row

PRICES TO RETAILERS FRUITS Apples—Box Jonathan, [email protected]; basket Jonathan, 31.5002.25; box Delicious $303.35; box Grimes. [email protected]; basket Grimes, $1 5002.25: basket Winter Bahamas. $1 7502. Cocoanuts—s6.so a bag of 100. Cranberries—ss a 35-lb. box: $lO a SOiw bOX. Grapes—Emperors, lugs. $3.50: kegs. $4; Almeria. tee. *6. Grapefrul%-$3.5003.75. Lemons—California, a crate, $7.2507.50. Limes—Jamaica. 100 by count. $2.25® “.50 Oranges—Caltfortna naval, a crate. $6.50 <37; Florida. [email protected]. Persimmons—Japanese. 51.7502; 40 to 70 count. Pears—Bose. box. $4 50: Anjau. $4.75. Strawberries—Florida. 900 a quart. VEGETABLES Artichokes—sl.7s a dozen. Beans—Southern stringless. $5.50 a bushel. Cabbage—Wisconsin, a lb.. 3%@4c: Texas, new cabbage. 5c lb. Cauliflower—California. $2.25. Carrots—California; 90c a dozen bunches. —California rough, a large crate Eggplant—Dozen. $3. Kale—Virginia. $3.2502.50 bushel: crate $2.50 Letuce—California head, a crate $4.25 a 4.50: home-grown leaf a bushel $2.15® 2.25. Onions—Yellow, a 100-lb. bag, ss@B; Spanish, a crate. [email protected]: Western. S6 a 100-lb. bag. Parsley—Home-grown, dozen bunches 50c. Peas—California. $7 45-lb. box. kjPepger^- Florida, per crate. sl4: peck Potatoes—Michigan round white. 150 Jhs $2.1002.25: Ohio. $1.5001.75; Idaho. $3.50 •aw, Button hothouse dozen bunches, 90c, Spinach—Texas, a bushel. $101.35. Sweet Potatoes—lndiana Jersey. $3 * bushel: No 3 $1.75 a bushel NEW YORK COFFEE RANGE —Jan. 31— High. Low. Close. January 13/18 13.51 13.78 March 18.58 18.40 16.58 May 15.85 15.60 15.85 July 14.96 14.83 14 96 September 14.28 14.17 14.28 December 13.78 13.66 13.78 RAW SCGAh PRICES -Jan. 31High. Low. Close. UaiWl 3.02 3.00 2.00 Map 3.11 3.09 3.09 July 2.17 3.15 2.16 September 3.19 5.17 2.17 December 3.33 2.20 2.31

New York Stocks

’(By Thomson ft McKinnon) *

—Feb. 1— Prev. Railroads— High. Low. 12:00. close. AtChlson/%.... .207’4 205 206% 204*, BaU^^OhtolV.'.lM 1 * i26 i2B 134*4 Canadian Pac ..292% 235*4 282’/* 264% Chesa & Ohio 223 207% Chesa Corp # *7*4 !5% 86% Chi ft N West.. 91% 89’* 91% 88 s * Chi Ort West... 23% 23% 23% 21% C R I ft P 137% 137% 137% 137 V. Del ft Hudson. .205% 204% 205 % 204% Del ft Lacka ...131% 131 131% 131% Erie 75% 73% 74% 72% Erie Ist pfd .... 63% 62’/s 63% 62% Grt Nor 111*4 410% 111% llOV* 111 Central 143% 134 Lehigh Valley ..100% 100% 100% 100% Kan City South 94 MKft T 53% 52% 53% 52% Mo Pac pfd 1?7% 132 N Y Centra1....203 199% 203 198% N Y C & St L. .140% 140 V* 140% ... NY NH ft H 93% 93 93’/* 92% Nor Pacific ....110% 110 110% 110% Norfolk ft West ... '205 O& W 29% 28% 29'/* 29 V* Pennsylvania ... 80 77% 80 79’/* P ft W Va 141 Reading 115 113% 114% 115 Sou-hern Ry ...157% 156V* 157% 155 Southern Pac ...138% 137% 138% 137 St Paul 38% 38% 38% 38 St Paul pfd 61% 61% 61% 61 St L* S W 109 108V* 109 108, Texas it Pac 173% Union Pacific ..225 224 225 232% West Maryland.. 46% 45% 46% 45% Wabash 76 74% RubbersAjax 10*4 10% 10% 10V* Fisk 19 18 19 18% Goodrich 101 99 100% 98% Goodyear 134% 133 134 332% Kelly-Spgfld .... 22% 22% 22% 22 Lee ............. .. ... ... 23 United States .. 52% 52V* 52% 50% Equipments— Am Car ft Fdy 99% Am Locomotive 110% 110% Am Steel Fd... 75 74% 75 74% Am B Shoe 52 50% 52 94 Genera! Elec ...261% 257 261 259% Gen Rv Signal ..102% 101% 102% 101% Gen Tank 97 97 N Y Airbrake.... 47% 46% 47V. 47*4 Pressed Stl Car 21% 21v Pullman 86% 85% 86% 86% Westlngh Air B 47% 47% 47% 45% Westlngh Elec ..164% 161% 164% 163% Steels— Bethlehem 86% 36V; 86% 86 Colorado Fuel.. 75 74% 75 74% Otis 40 Va 40% 40% 40% Inland Steel 90*4 91% Rap Iron ft Stl.. 82% 82% 82Vi 82Vi U S Steel 185% 183% 185*/a 184% Alloy 49% 48% 49% 48% Youcestwn Stl 112 110% Vanadium Corp 108% 109V* Motors— Am Bosch Mag .. 43'V Briggs 57% 56V* 56% 55Vi Chrysler Corp ..115 114 114% 114 s 4 Eaton Axle 74 72% 73 V* 73% Graham Paige.. 49% 49*4 493/* 48% General Motors.. 83’/* 83*4 83% 83% Hudson 90 88% 90 87*/a Hupp 78% 78% Jordan 13 12% Mack Motors ..110% 108% 110% 108% Marmon ... ... 7i Beo 28% 28V* 28% 28% Motor Wheel 44% 45 Nash 114% 114*4 114V* 114% Packard 141 140% 140% 142% Pierce Arrow 35*/ Studehaker Cor.. 96% 95% 95% 95% Stew Warner ...140% 134 140% 135 Murray 73 72 % Timken Bear 78Va 79 Willys-Overland. 32 31*% 31% 30’/* Yellow Coach .. 41% 41*4 41*4 39% White M0t0r.... 47% 46% 47% 46'/* Mining— Am Smlt ft Rfg.119% 117% 119 117 Anaconda Cop ..127% 126*4 127 129% Andes 51% 50% 51% 49% Cerro de Pasco.. 106% 104% 106% 106% Chile Copper .. 92% 91% 92 V* 91% Greene Can C0p.177% 175 177% 176 Inspiration Cop 49% 487* 49 45*4 Int Nickel 68 '% 67% 68*4 67% Kennecott Cop 163 1 60% 161% 160 Magma Cop ... 72% 72 72 72 Nev Cop 48% 47% 48 47% Texas Gulf Sul. 78*4 77V* 78 77”, U S Smelt 69 5 /* 68% 69 68% Oils— Atlantic Rfg... 62% 60 61 Vi 58 Beechnut 45 V* 44 45 43% Freeport-Texas.. 91% 51% 51% 51 Houston Oil 89% 89% Indp Oil Sc Gas. 31 30% 30% 30% Merland Oil .... 40% 39% 40 39 Mid-Cont Petrol. 32% 32V* 32% 32'/* Lago Oil & Tr.. 28% Pan-Am Pet 8.. 45% 45 45 44% Phillips Petrol .. 39% 39% 39% 39% Prairie Oil &G. 60% 60% 60% 60% Union of Cal ... 50 49% 50 49% Pure Oil 24% 24% 24% 24% Royal Dutch 51% 50% Shell 27V* 26% 27% 26% Simms Petrol .. 20% 20% 20% 20% Sinclair Oil .... 39% 38V* 39% 38% Skelly Oil 36 35*4 35% 35 Std Oil Cal ... 66% Std Oil N J .... 50% 50% 50*/* 50V* Std Oil N Y 41% 41% 41*4 41 Texas Corp 61V* 60V* 60 s /* 60 Transcofitf IOVa 10% 10% 10 White Eagle 31% Industrials— Adv Rumely .... 62% 62 62'/* 55% Allis Calmers 191 Allied Chemical 278 Armour A 17% 17 17% 16% Amer Can 115% 114% 115% 114% Alaska J 9 8% Am H L pfd 32% Am Safety Raz 73% Am Ice 39 % 39% Am Wool 23% 23 Curtiss 156 153 155% 153 Coca Cola 173 V* 172 •Conti Can 83% 63*'* 63% 63 Certainteed 24% Congoleum 33 V* 32 Vi 33% 32% Davison Chem . 68% 68V* 88V* 68% Dupont 194% 189% 194% 191 Famous Players. 66 5 /* 65% 66% 65 Fox A ....... 96%. 94% 95% 95% Gold Dust 78’/* 77% 78% 77% Glidden 42% 42 42 41% •Int Paper 7234 int Harvester ..111 110% 111 111’,* Lambert 132’/* 132V* 132% 132 Loews 80% 78% 79 79 May Stores 99 98% Montgom Ward. 144% 142% 144 142’/* Natl C R 138% 136% 187% 135% Pittsburgh Coafi 74 V* 74 74 ... Owens Bottle 92'% 91 Radio Keith 39% 39% 39'A 39 Real Silk ... 72'/* 731/, Rem Rand 33% 33 33V* 32% Sears Roebuck.. 166% 165% 166% 165% Union Carbide . .224% 223% 224% 224% XL , , tor ™ 151% 150 "4 151% 150’* Uhiv Pipe 18 17V* 17% 18 DSCs Ir Pipe.. 44 43% 44 43% U S Indus A1c0.154 152% 153% 150 Wright Aero ... 280 275 380 271 Vi W utmticQ ros ”' 132 130 Vi 131 128% Am Tel Sc Tel ..220% 220 220 519 Am Wat Wks .. 88% 87 88% 88% Brklyn-Manh T 80% 80 80 80 Col G & E 157 156 V* 157 156 V* Consol Gas 117% 115% 117 115% Elec Pow & Lt.. 62% 61 61% 61% Interboro 54% 53% 53% 54% Nor Am Cos 105y 2 105 105% 104% Natl Power 57 55% 56% 55% S Cal Edison .. 67% 67% 67’/* 67% Pub Serv NJ .. 92% 91% 91% 91% ?rV?„S as & EI “ 97 . 96% 96V* Utilities Power. . 46% 45& 45% 47 West Union Te 1.206 ' 200 205% 197 Shiopinr— Am Inti Corp i47Vi 147% Am Ship Sc Com 5% 5 United Fruit ...156% 156% 156** 156% Foods— Am Sug Rfg ... 91 Vi 91 91 90% Kroger 116% 116% 116% 115V* Austin Nichols 7 7 Beechnut Pkg 95% 95 California Pkg 74% Corn Products.. 88% 87% 87% 87 Cudahv 62 Vi Cuban Am Sug 15% 16 Fleischmann Cos. 78 77% 77% 77’/* Jewel Tea 157% 157% 157% 157% Kraft Cheese ... 35’* 35% 35% 35% Natl Biscuit 192 Vi Natl Dairy 136• 135% 136% 134’* Postum Cos 76 75* i 75’/* 75’/* Ward Baking B 17% Tobaccos— Am Sumatra 55% 56% Am Tob B 183'a Con Cigars 91% 91% General Cigar 68% 69 Llg Sc Meyers.. 98% 57% 98 98% Lorillard 26% R. J. Reynolds 160% Tob Products B 97% 97 Schulte Ret Strs 32% 31 s . 32% 32% Std Con Tob 36% New York Curb Opening „ , —Feb. 1— Amer Dept Store 22 % Anglo-Amer 15% Boeing Air T 95 Cont Oil 20% Cities Service 91 Can Marconi 7% Curtissg Fly Serv 24 % De Forest 22% Elec Bond and Sh 247 FOX T 32% Freshman 9’* Gulf Oil 48** Hudson Bav 21% Int Pete 60 N E Power 56% Niles B P 233% Fokker 24% Ford of England 16% N Amer Aviation 17% Rainbow 5R% Standard Oil. Indiana 95% Standard Oil. Ky 91% Servel 18 S E Power 89% Trans Cont A T 25% United L and P fA) 41% United Gas and Imp 190% New York Stock Opening —Feb. 1— Am Can 114% Anaconda 13% Annour "A" 17 Atchison 105 B & O 126 Beth Steel 86% Con Gas Cos 115% Gen Electric 257 Gen Motors * 83% Hudson Motor 88% Kenn Cop 160% Mid Conti Pete 23% Mo Pac 72 N Y N H * H 93 Reading 113% Radio 73% St Paul 38% Sears-Roebuck 165% Un Carbide ft Carbon 224’, L 6 Steel % ~.183%

PORKER PRICES 20 TO 50 CENTS HIGHERIN PENS Vealers 50 Cents Lower; Not Enough Sheep to Make Market. Jan. Bulk. Top. Receipts 25. [email protected] 10.00 10,000 26. 9.65 9.75 3,500 28. 9.25<58 9.75 10.00 4.000 29. 9.90® 10.15 10.15 9.000 30. 9.90 9.90 10.600 31. 9.70 9.80 6.000 Feb. X. 10.00 10.25 4,000 Hogs were 20 to 50 cents higher today at the local stock yards. Largely 30 cents higher on weights of 160 to 300 pounds. The bulk of 160-300 pounds brought $lO. Few loads of choice brought $10.25. Receipts were slightly lower, numbering 4,000, and holdovers from Thursday's market totaled 560. Cattle were slow to lower with the week-end decline. Vealers were 50 cents lower, selling around $lB down. There were not enough sheep and lambs here to make a market. Choice light lambs brought $16.50. The Chicago hog market opened fairly active to shippers, and around 10 to 15 cents higher than Thursday's average. A number of bids and few sales on choice 180-240-pound avenges brought $9.60 to $9.75. Receipts were estimated at 37,000, including 7,000 directs, and holdovers from. Thursday’s market total 15,000. Cattle receipts were 3,500. Sheep receipts were 10,000. Hog prices today were as follows: 250-350 pounds, $9.50 to $10.25; 200250 pounds, $lO to $10.25; 160-200 pounds, $10; 130-160 pounds, $9.25 to $9.75; 90-130 pounds, $7.25 to $9, and packing sows, $8.25 to $8.75. Cattle receipts were 500; calf receipts were 500; beefs steers, $lO to $12.50; beef cows, $7.50 to $9; low cutter and cutter cows, $5.25 to $6.75; vealers, sl7 to $18; heavy calves, $7 to sl2, and bulk stock and feeder steers, $8 to $10.50. Sheep receipts were 200; top fat lambs, $16.75; bulk fat lambs, sls to sl6; bulk cull lambs, $10.50 to sl3, and bulk fat ewes, $7.50 t oslo. —Hogs— Receipts, 4,000; market, higher. 250-350 lbs $ [email protected] 200-250 lbs [email protected] 160-200 ibs 10.00 130-160 lbs 9.25® 9.75 90-130 lbs. 7.25® 9.00 Packing sows 8.25® 8.75 —CattleReceipts, 500; market, steady. Beef steers slo.oo® 12.50 Beef cows 7.50® 9.00 Low cutters and cutter cows.. 5.25® 6.75 Bulk stock and feeder steers.. [email protected] —Calves-* Receipts, 500; market, lower. Best veals $17.00018.00 Heavy calves 7.00® 12.00 —Sheep— Receipts, 200; market, lower. Top fat lambs $16.75 Bulk fat lambs 15.00016.00 Bulk cull lambs 10.50® 13.00 Bulk fat ewes [email protected] Other Livestock Bu United Press FITTSBUFXSH, Feb. I.—Hogs—Receipts, 1,500; market steady; 250-350 lbs., slo@ 10.50; 200-250 lbs.. $10.40010.70: 160-200 lbs., [email protected]; 130-160 lbs., $9.50010.50; 90-130 lbs., [email protected]: packing sows, sß@ 8.50. Cattle —Receipts, 50: calves, 50: market steady, firm; beef steers, [email protected]; light yearling steers and heifers, s9@l3; beef cows. [email protected]; low cutter and cutter cows. $507; vealers. sl4 @l9; heavy calves, [email protected]. Sheep—Receipts, 750; market weak to 25c down; top fat lambs, $17.25; bulk fat lambs. $15017.25; bulk cull lambs, $10@13; bulk fat ewes, s7@ 9.50. Bv Times Special LOUISVILLE, Feb. I.—Hogs—Receipts, 600; market 20c higher: heavy and medium hogs. 180 lbs. up, [email protected]; pigs and lights, 90 to 180 lbs., $7.40®9.25; light pigs, 90 lbs. down, $5,95; sta,gs and throwouts, [email protected]. Cattle—Receipts, 1D0‘; market, steady; prime heavy steers. [email protected]; heavy shipping steers, $10012: medium and plairr steers, $8.0®10; hat heifers, $7.50011.50; good to choice cows. $8.25@ 9.0 v medium lo good cows, [email protected]; cutters, $5.50(.6.50; cannerj, $4.50@5; bulls. $6.50® 9.50; feeders. $8011.50; Stockers, $6.50® 11.25. Calves Receipts, 200; market steady; good to choice. $13.50 f 15.50; medium to god. $11013; outs, $6 11. Sheep—Receipts, 50; market, steady; lambs, $12.50@13: seconds. $8.50® 10; sheep, s4@6. Thursday’s shipments: Cattle, 32; calves, none; hogs, none; sheep, none. Bn United Press CINCINNATI, Feb. I.—Hogs—Receipts, 1,600; holdovers, 840; market, steadv; 250350 lbs., $9.25® 10; 200-250 lbs.. [email protected]; 160-200 lbs., $9.85(810.25; 130-160 lbs., $9.50 @ 10: 90-130 lbs.. [email protected]; packing sows, $7.75® 8.75. Cattle—Receipts, 400; calves. 250; market, steady; beef steers, s9@l2; light yearlings steers and heifers, s9.so®’ 12.50; beef cows, $7.50@9; low cutter and cutter cows. [email protected]; vealers, $14®18; heavy calves, $9 @l4. Sheep—Receipts, 125; market, weak to 50c down; top fat lambs. $17.50; bulk fat lambs, $15017; bulk cull lambs. $10014; bulk fat ewes, $609. Bn United Press EAST BUFFALO. Feb. I.—Hogs—Receipts, 3,400; holdovers, 200; market, slow, 10c down; 250-350 lbs.. $10010.40; 200-250 lbs., $10.15010.40; 160-200 lbs., $10.15® 10.40; 130-160 lbs., $9.25@ 1.40; 90-130 lbs., $909.75; packing sows, $8.5009. CattleReceipts, 250; calves, 600; market, weak 50c down; market, steady; beef 6teers, $10.50012.50; light yearling steers and heifers, sll® 13.25; beef cows, $8®9.50; low cutter and cutter cows, $4.75(0 6.75; vealers, $18.50@19. Sheep—Receipts, 4,800; market, 25c down; top fat lambs. $17.35; bulk fat lambs. sl7® 17.25; bulk cull lambs, $10013.25; bulk fat ewes, $8.7509.75. Bn United Press FT. WAYNE. Feb. I.—Cattle—Receipts, 75; calve-. 75; hogs. 500; sheep. 200: market. 15c to 25c higher: 90-120 lbs., $7.80; 120-140 lbs.. SBS9: 140-160 lbs^ $9.25: 160-180 lbs., $9.60; 180-200 lbs.. $9.75; 200-225 lbs.. $9.65; 225-300 lbs., $9.50; 300400 lbs., $9.15; roughs. $8; stags, $6; lambs, $15.50; calves, $17.50. Deaths Harry Leo Flasagan. 33, Christian hospital, acute appendicitis. F. W. Langworthy. 71. Lorraine hotel, tuberculosis. Ethel Urguhart, 15, West Tenth and Haugh. accidental. Maude Moody. 35. city hospital, broncho pneumonia. Henry F. Kroencke. 55, Christian hospital. broncho pneumonia. Robert L. Slagle, 63, Big Four train, cerebral hemorrhage. Alexander Lash. 75, 1028 Colton, apoplexy. Adelaide J. Ward. 87. city hospital, broncho pneumonia. Eva Hancock, 35, Methodist hospital, obstruction of bowels. Charles F. Kellermever, 65, 1330 North Kealing. acute dilatation of heart. Robert Marion Taylor. 7. Chrisrian hospital. lobar pneumonia. Virginia Talbott. 83. 1541 Ashland, arteriosclerosis. Callie Washer. 61. 1636 English, chronic myocarditis. Louisa GraveL 82. 2607 East Tenth, apoplexy.

Local Wagon Wheat

City grain elevators are paying $1.31 for No. 2 red wheat and $1.16 for No. 2 hard. Closed Bank Claimants Sue Bv United Press TOCSIN, Ind.. Feb. I.—Eighty creditors of the bank of Tocsin, a private institution, which was closed in 1925, sued stockholders today for payment of balance of claims. Only 50.12 per cent of total claims of $433,146.08 have been paid, it was said. The receiver has assets now to pay only 5 per cent more, according to an announcement.

t Hhi ii\ iii Ai\ AJr oLlo iiAiihto

GRAIN FUTURES FAIL TO SHOW DEFINITETREND Reports of Damage in Winter Crops Were Not Verified. Bit United Press CHICAGO, Feb. I.—Grain futures showed no definite trend on the Board of Trade today, although March corn was slightly weak. Foreign markets were comparatively strong. At the opening wheat was Vs cent lower to % cent higher. Corn was unchanged to % cent lower and oats were unchanged. Provisions were unchanged. There are so many reports of damage to witner wheat that although these cannot be verified until growing season commences belief of winter killing is becoming general. The Argentine government has been asked to withhold wheat from world markets on the hope of higher prices later. Liverpool was stronger than due this morning. Sentiment in corn is mixed, but the firm tone in wheat has been contributing strength to the market. Country movements are light and cash handlers report good inquiries from Canadian distillery interests. Oats have been showing little change, but the tendency to follow trend in other grains is still apparent. Chicago Grain Table —Feb. 1— WHEAT— Prev. High. Low. Close, close. March 1.24% 1.23% 1.24% 1.24% May 1.27’/* 1.26% 1.27% 1.27% July 1.29 s * 1.28% 1.29% 1.29% CORN— March 97% .96% .97 .97% May 1.00 .99% 1.00 1.00% July 1.02 1.01% 1.02 1.02% OATS— March 52% .52% .52% .52% May 53% .53 .53% .53 July 50% .50 .50% .50 RYE— March 1.10% 1.09% 1.09*4 1.09 May 1.09% 1.09% 1.09>/ a 1.09 July 1.08 1.07% 1.08 1.07 LARD— January 11.90 March 11.95 11.97 Mav 12.27 12.25 12.27 12.25 July 12.52 RIBS— January 12.70 May 13.05 By Times Special CHICAGO, Feb. I.—Carlots: Wheat, 8; corn. 212; oats, 41: rye, 2.

Indianapolis Stocks

—Feb. 1— Bid. Ask. American Central L Ins C0..750 Belt R R & S Yds Cos com 69 71 Belt RR & S Yds Cos pfd 58% 62% Central Ind Power Cos pfd... 95 99% Cities Serv Cos com .• 91 Cities Serv Cos pfd 98% ... Citizens Gas Cos com 33% 41 Citizens Gas Cos pfd 99 102’/a Commonwealth L Cos pfd 100% ... Equitable Sec Cos com Hook Drug Cos com 40 Horuff Shoe Corp com 14% 15% Ind Hotel Cos Clapool c0m.... 125 Ind Hotel Cos pfd 100 Ind Serv Corp pfd 90 Indpls Gas Cos com 57 61 Indpls & Northwtn Tr Cos pfd 5 Indpls P & L Cos pfd 105% 106% Indpls P Sc L Corp pfd 98 100 Indpls Pu Wei L Assn com.. 47% ... Indpls St RCo pfd 34% 37 Indpls Wa Cos pfd 100% 103 Inter Pub Serv Cos pr ii pfd. 103 106 Interst Pub Serv Cos pfd...XD 93% 97% Merchants Pub Util Cos pfd 101 Metro Loan Cos < 100% ... Northern-Ind Pub S Cos pfd.,loo 103 Northern Ind Pub Sv Cos pfd.. 109 Prog Landry Cos com 46 50 2 Rauh & Sons Fert Cos pfd... 50 ... Real Silk Hosiery Cos pfd .... 99% ... Stand Oil Cos of Ind 96 T H Indpls & E Tr Cos com. I T H Indpls & E Tr Cos pfd.. 9 T H Tr ic & Li Cos pfd 96% ... Union Trac Cos com % Union Trac Cos Ist pfd 1 Un Trac Cos 2nd pfd % Union Title Cos com 42 60 V Camp Prod Cos Ist pfd 98 100 V Cp Prod Cos 2nd pfd 92 BONDS Sid. Ask. Belt RR & stock Yards Cos 4s 88' ... ‘ Broad Ripple Trac Cos 5s 70 Central Indiana Gas Cos 55... 99% ... Central Ind Power Cos 6s 100% ... C’hi. S B Sc N Ind Ry Ist ss. 20 Citizens Gas Cos 5s 103 104% Citizens Street Railroad 55... 83% 86% Gary Street Ry Ist 5s 86 90 Home T & T of Ft Wayne 65.103 Indiana Hotel Cos 5s 101 Ind Northern Trac Cos 5s 3% Ind Railway & Light Cos 55.. 99 101% Indiana Service Corpn. 55.... 92 Indpls Power & Light Cos 55.. 98% ... Indiana Union Trac Cos. 55.. 1 Indpls Col Sc So Trac 6s 99 102 Indianapolis Gas Cos 5s 100 Indpls Sc Martinsville T Cos 5s 16 Indpls No Trac Cos 5s 8 12 Indpls Sc Northw’ern T Cos 5s 16 Indpls Street Rv 4s 63 66% Indpls Trac & Terminal Cos 5s 95% 96 Indpls URy 5s J 1965, A & B 101% ... Indpls Water Cos 5%s 102*% 104% Indpls Water Cos s*%s 102’% 104% Indpls W Cos lien Sc ref 5s Ist 96 Indpls Water Cos 4%s 95 Indpls Water Works Sec Cos 5s 95% ... Interstate Pub Serv Cos 4%5. 90*% ... Interstate Public Service Cos 5s 97 Interstate Pub Serv Cos B 6%s 105 No Ind Pub Serv Cos 5s 100 T H Indpls & E Trac Cos ss. 32 T H Trac & Light Cos 5s 95 Union Trac of Ind Cos 6s 9*% 12*% Northern Ind Tel 98*% 100 GOVERNMENT BONDS Liberty Loan Ist 3%/;, 98.84 99.08 Liberty Loan Ist 4*4 % 99.92 100 14 Lib'.rtv Loan 4th 4’* % 100.02 100 22 K § Treasury 4*%s 100.16 110.38 U S Treasury 4s 105.08 105.28 U S Treasury 3%s 102.14 102.34 U S Treasury %s 97.52 97.74 —Sales— 1 Bond Indpls Street Rv 4s 63 4 Bonds Indpls Street Ry 4s 62%

Produce Markets

Butter i wholesale)—No. 1. 52@53c; No. 2. 30@531c. Butterfat—Lb.. 50c. Ci.rese i wholesale selling price per pound)--American loaf. 33c: pimento loaf. 35c: Wisconsin flat. 29c: prime cream. 27c: Daisy. 26c: Longhorn 26c: New York limberger. 30c. Eggs- Buying prices: Fresh delivered at Indianapolis loss off, 33 @ 34c. Poultry (buving prices) Hens, 25@ 26c: Leghorn hens. 21c: 1926 springers, large breed. 3 lbs. and up 26c: 1 to IV, lbs.. 23c: Leghorns. 21c: old roosters, large. 14c: small, 10@13c: ducks. 16@17c: guineas, young 50c: old. 35c: turkeys, o. 1 voung toms 12 lbs. and up 35®38c: No. 1 young hens 36c a lb.: No. 1 old toms 22®25c- No 2. old hens is £3O alb RETAIL HARDWARE MEN HOLD DINNER TONIGHT Dr. J. L. Davis of Connecticut to Spetk at Banquet. Dr. John L. Davis, New Puritan, Conn., will be the guest of honor tonight at the dinner of the Indiana Retail Hardware Association at the Columbia Club. The tenth floor of the club has been reserved for the dinner. This morning addresses were given in the Manufacturers’ building, state fairground, by hardware men from different sections of Indiana. Speakers were W. L. Kiger, Bluffton; Ralph David. Logansport; Harry S. Young, Indianapolis; A. Gunn Hayden, Rushville; G. E. Fredrick, Auburn; A. B. Weaver, Ligonier; Harry Thuermer, Aurora, and Alfred Gronemier, Mt. Vernon. The convention closes Friday. 1

Legislative Calendar

House bills introduced: H. B. 191'. Bloom—Amending mortgage and Hen acts. Judiciary B. H. B. 192. Scattergood—Providing for September term of De Kalb circuit court. Organization of courts. H. B. 198. Ouard—Prohibiting township trustee from appointing trustee of another township as school teacher in township of lormer. Voiding such contracts. Education. H. B. 194. Guard—Making police pension law apply to policeman with twenty years’ service Instead of twenty consecutive years. Cities and towns. H. B. 195. Ferguson of Clark—Exempting state or federally owned bridge over rivers forming boundaries between Indiana and adjacent states from taxation. Emergency. Ways and means. H. 3. 196 Gilley—Providing for committee of three to maintain and care for dredge ditches. Drains and dikes. H. B. 197. Bennett. Bouchard. Tudo and Worley—Providing for licensing of chain stores with license fees ranging from $1 to $l5O a store. Ways and means. H. B. 198. Scott of Floyd and Ferguson of Clark—Fixing salaries of third-class city officials at: Mayor. $3,000 to $5,000; city clerk. $2,500; city attorney. $1,500 to <2,500; city judge, $1,500 to $2,000; city engineer, $2,000 to $3,600. Cities and towns. H. B. 199. Ferguson of Clark, and Scott of Floyd—Authorizing county seats that are in third class to establish office of city judge, effective Jan. 1. 1930, through appointment to four-year-term by mayor. Cities and towns. H. B. 200. Evans—Providing penalty of $5 to SSO or ten days to six months’ imprisonment for buying “green” furs without a license. Natural resources. H. B. 201. Freeman—lncreasing statute of limitation on crimes by public officials from two to eight years: and on incest, rape, robbery, grand larceny and knowingly receiving stolen goods to ten years. Criminal code. H. B. 202. Babcock—Request measure fixing mileage and compensation for serving processes, allowance for boarding prisoners and hire for deputy sheriffs in counties with less than 20,000 population. and increasing annual salary of sheriff by SI,OOO. County and townships. H. B. 203. Brown—“ Hot chicken” bill, requiring poultry dealers to take names and addresses of persons from whom fowls are bought and obtain license number of carrier used to deliver poultry. Providing penalty for violation of SSO to S2OO. Judiciary A. H, B. 204, Ahlgren—Creating tax areas

4TAX EXEMPT IN INDIANA)50,000 Shares Shareholders Investment Corporation Capital Stock JiO To be CAPITALIZATION Authorized presently issued Capital Stock (no par value) " 150,000 shares 50,000 shares THE SHAREHOLDERS INVESTMENT CORPORATION has been formed under the laws of Indiana to buy, sell, trade in or hold stocks and securities of any kind, to participate in syndicates and underwritings and to exercise such other of its charter powers as its Board of Directors may from time to time determine. The Corporation will commence business with not less than $1,250,000 in cash, arising fVom the sale of 50,000 shares of its capital stock to the undersigned; and as the undersigned will pay all of the expenses in connection with the organization and the issue and distribution of this stock, the above sum will be net to the Corporation. The Fletcher American Company also has an option to purchase within ninety days, up to 20,000 additional shares at $25.50 per share. The Board of Directors of the Corporation is composed only of directors of the Fletcher American Company and the Fletcher American National Bank. The Corporation has entered into a management contract with the Fletcher American Company under the terms of which that company will receive no compensation other than regular commissions where it acts as a distributor for the Corporation unless the Coiporation earns annually 7% on its capital and surplus as of the beginning of the year plus appropriate adjustments for capital added during the year; in any year in which the realized net profits exceed this 7%, the company will be entitled to receive an amount equal to 20% of the net profits but only to the extent that the payment thereof will not reduce the net profits below this 7%. The requirement for the annual earning of net profits of 7% and the provision for the company’s compensation shall be cumulative. If in any year the Corporation shall fail to have net earnings of that amount, the deficiency must be made good in subsequent years before the company will be entitled to receive compensation for that year. The certificate of incorporation and/or the management contract contain provisions to the following effect, among others: 1. All stock now authorized or issued is of the same class, and all shares have identical rights as to voting, dividends and otherwise. 2. The stockholders, by a majority vote, may terminate the management contract at any time. If any director shai. be elected to the Board of the Corporation without the approval of Fletcher American Company, the management contract may be terminated by Fletcher American Company. 3. No stockholder shall, as a matter of right, be entitled to subscribe to any additional stock of any class. The Corporation will not take over any securities now owned by the Fletcher American Company or the Fletcher American National Bank. The Fletcher American Company may deal freely with the Corporation, but in any transaction between them, the Fletcher American Company will accept the responsibility of the fairness of the transaction. There are no options on any unissued stock, nor has the Corporation any other agreements, except those herein referred to. fThe above is subject to the more complete statements contained in Y| the certificate of incorporation and the management contract, copies | of which may be obtained from the undersigned upon request. JJ Price $27 per share This offering is made subject to allotment or prior sale and in all respects when, as and if issued and accepted by us and subject to approval of Messrs. Smith, Remster, Hombrook sis Smith and Messrs. Rappaport, Kipp & Lieber. It is expected that delivery of temporary stock certificates ©r of interim receipts will be made on or about February 10, 1929, at the office of Fletcher American Company, Indianapolis. © rv/ FleidlierAmeric!<anCoinpaiitJ • Affiliated with The Fletcher American National Bank ah mtement herein c < official or bated on informaDrTROTT INDIANAPOLIS LOUHVHXJ tioo we regard a* reliable, Ijf and while we do not guaranRegistered Dealer Indiana Securities Commission Certificate Ho. 3 aporTwhleh'we^re'acted *® purchase and valustion of thi* issue.

in suburbs for extension of street car lines. Applies to Lake county specifically. Citiqs and towns. H. B. 205. Thiel— Providing that persons furnishing earth for iill-lns may obtain mechanics’ liens. Judiciary B. H. B. 206. Benedict—Measure applying to East Michigan street. East New York street and other east side streets, providing that city shall pay 90 per cent and taxpayers 10 per cent of street widening cost. City of Indianapolis. H. B. 207. King—Providing for voting commission to receive and count ballots of Hoosiers residing in Washington. D. C. Elections. H. B. 208. Kottkamp and Douglass Requiring dries and towns with volunteer fire departments to provide indemnity insurance for such departments. Cities and towns. H. B. 209. Kottkamp and Douglass Providing platoon system for cities with populations btween 2,500 and 7.500. Cities and towns. H. B. 210. Ballard —Authorizing trust companies to issue stock of less than SIOO par value a share. Banks. H. B. 211. Calvert. Lowry and Evans— Creating state real estate dealers registration board of three members, fixing salaries and requiring all real estate brokers and salesmen to be licensed. Judiciary A. H. B. 212. Smith —Providing registration board of five members to register and license architect, to be appointed by building council administrative board. Judiciary A. H. B. 213. Carter—Providing fine of SSO to SIOO of violation of incorporated law providing that fertilizer sold in bags or cloth containers must be sealed. H. B. 214. Stewart—lncreasing penalty for petit larcency from one to eight years Imprisonment In state prison. Maximum

MONEY TO LOAN —ON—MORTGAGES STATE LIFE Insurance Cos. 1235 STATE LIES BLDG.

under existing tow is six months. Criminal code. H. B. 215. Stewart— Amendatory. Removes present requirement th*t burglar must have deadly or dangerous weapon in possession to be found guilty of first degree burglary. Criminal code. House resohdions introduced: H. C. R. ?. Foster—Compelling State highway commission to hold all sessions open to pubUc. press and Interested taxpayers. Roads. House bills indefinitely postponed: H. B. 42. Scott, of Floyd—lncreasing taxation exemption for veterans of all wars and widows from SI,OOO to $1,500. Ways and means. H. B. 53. Cantwell—Providing S2OO exemption on personal property. Ways and means. H. B. 53. Cantwell—Amendatory. Requiring all fraternal, labor, political and reUgious organizations to file receipts and expenditures within thirty days after election. Ways and means. House bills on third reading: H. B. 58. Stewart—Causing terms of county officials to begin Jan. 1. Ayes, 94; noes, 1. Senate action on bills: S. B. 36. Holmes—Putting appointment of stats probation director under commission of four and extending state supervision to adults as well as juveniles. Ayes. 35: noes 5. 8. B. 66. Hill—Empowering courts to

BASIC R IITNMSnff j Jj |[shares] I One Investment in 30 Great Corporations Complete Details on Request City Securities Corporation DICK MILLEB, Pres. 108 E. Washington St.

A i, U-O

name competent engineers instead of county surveyor to conduct drainage surveys. Ayes. 33: noes. 7. 8. B- 73. Garrott—Providing that bank officers coveted by “blanket bonds’" need no individual bonds. Ayes, 38; aoes, 0. House bills withdrawn: H. B. 167. Cantwell—Exempting person* from garnishee for debts made, by another. H. B. 171. Ferguson of Clark—Exempting from taxation all publicly owned or private bridges operating under federal franchise, which cross stream* forming boundary between Indiana and adjacent streams. Emergency. H. B. 175. Babcock and BrewsterAmendatory. Providing that trade journals be listed as newspapers in which public Improvement notices may be inserted. I Buy and Sell Citizens Gas Cos. Stocks Newton Todd 415 Lemcke Bldg.

OVERNIGHT FREIGHT DELIVERY —To— Dayton, Lima, Springfield and Columbus, Ohio. SECOND MORNING Cleveland. Toledo, Zanesville, Ohio; Detroit, Mich., and intermediate points when routed via Terre Haute, Indianapolis & Eastern Traction Company Dispatch Freight Shipments Handled On All Passenger Cars. HOURLY SERVICE Now located in the New Terminal No more delays to your trucks.