Indianapolis Times, Volume 41, Number 137, Indianapolis, Marion County, 18 October 1929 — Page 33

OCT. 18, 1929

OIL SHARES GO HIGHER; SAG IN LATER TRADING Kolster Radio and CurtisWright Hit New Lows.

Average Stock Prices

Average of twentv industrials for Friday aas 341.86. up 5.73. Average of twenty rails was 176.12. up 38. Average of forty bonds was 93. up .12. Bn I nlted Press NEW YORK, Oct. 18.—Waves of selling today kept the stock market in a state of nervous anxiety. Prices dropped at the opening on the rise of $88,000,000 in brokerage loans reported after the close Thursday, then rallied sharply to above the previous close, only to berak again when bears began operations in earnest. Mtney rates were easy for both time and call funds. Call money renewed at 6 per cent, then dropped to 5 per cent, while time money was dull and steady. This ease in credit helped the bond market, where business was more active and prices firm, but in stocks it had no effect. Oil shares maintained a strong front, although they were not immune from profit taking and liquidation that was prevalent among the Industrials, utilities and rails. During the early trading the oil shares were a distinct feature, their strength buoying up the list for a time. Standard of New Jersey came out in huge blocks at higher prices, but it sagged later. Atlantic Refining was a strong spot. United States Steel broke 2 points in the afternoon and losses ranging from 2 to 5 points were sustained by Genera! Electric, Montgomery Ward, Union Carbide, North American, Sears Roebuck, Consolidated Gas and International Combustion, the latter dropping to anew low. New lows also were made by Roister Radio and Curtis-Wright. Railroad shares went down with the general list, as did mercantile shares and many of the special issues that were in demand in the late trading Thursday. Utilities met. heavy pressure, recovered and broke again. Coppers sold off with Anaconda, while equipments and food shares were also weak.

Banks and Exchange

INDIANAPOLIS STATEMENT Indianapolis bank clearings Friday, Oct. 18. $3,727,000; debits, $8,584,000. CHICAGO STATEMENT Bv United Pi , s' CHICAGO. Oct. 18 -Bank clearings, $134,900,00, balances. $21,200.00C. NEW YORK STATEMENT Bn United Press NEW’ YORK. Oct. 18 Bank claermgs: Exchange at the New York clearing house. $1,909,000,00; balance. $250,000,000. federal reserve credit balance, $199,000,000. TREASURY STATEMENT Bn Unit l it Press WASHINGTON, Oct. 18—Treasury not balance on Oct. 16 was $296,359,816.48: customs receipts lor the month to the same date totaled $29,426,574.53.

In the Stock Market

<Bv Thomson & McKinnon) NEW YORK, Oct. 18.—With the loaa account again practically at the high point, we are offered a selection of explanations to account J for an increase in spite of a decline in the price average of almost 15 per cent. Payment for new issues is the theory advanced by the more optimistically inclined, 'while those more bearish fall back upon the more logical reason of undigested securities. Actually there appears to be but one fundamental reason for the failure of the loans to contract, and that is that stocks have been steadily coming out of strong boxes and finding their way into margin accounts in increasing volume, and the impression is gaining ground that the public rather than liquidating extensively has been buying on balance throughout the current reaction. Shifting the blame for increasing loans to other causes than within the market itself will serve no good purpose nor will it be of any advantage to ig-* nore what appears to be a changing commercial picture. Our own department of commerce in its latest review notes a sharp contraction in several major industries during the past month, and already intimations are coming from Washington that the prospect of lowered income taxes are not as bright as thev were earlier in the year. Until such time as we are reasonably certain that the present letdown in busines is but a temporary conedition. we feel that speculative accounts should be reduced. Births Girls Mid Jean Lightlv J 43 ~E uc c . e " *' Tlmtr and Plccola Lg>os, 238 South _tatc. Royal and Stella Wilke, Methodist hosand Fannie Levinscky, Methodist George and Marjorie -Dale, Methodist Henrv and Minnie Marsh, Methodist hospital. _ Elmer and Ruth Homeghausen. Methodist hospital. „ .. ... Rova and Chloral Showeross. Methodist hospital. Wilbur and Beulah Earley. 2112 EngAibert and Ruth Lord. 1614 College. Boys Frank and Fay Richardson. 431 North Tibbs. * Jesse qpd Mae Thomson. 1914 Sugar Grove. Frank and Elizabeth Downing. 1144 North VVarmau. John and Le’a Lararo, 1328 West Twentv-third. Walter and Luclle Rcthermel, Methodist hospital. John and Bessie McCfcacken. 853 High. William and Edna May hew, 4440 Scofield. Edward and Marv Renihan. 1801 Ruckle. Valentine and Clella Adams. 519 North Gladstone. Twins David and Minnie Grundy, 1038 Charles, hoys. Deaths Almira Htr.chman, 72, 1620 Brookslde. arteriosclerosis. Arthur G. Illingworth, 42, Methodist hospital, accidental. Elisabeth C. McConnell, 66. 2717 Jackson. mitral insufficiency. Raleigh T Boyd. 45. 1764 Morgan, chronic mvocarditis. , Marie Hitchcock, 50, city hospital, lobar pneumonia. Martha E. Parker. 73. 1423 Brookslde. uremia. Nanay M Newcomb. 65. 323 South Grace, eardlo vascular renal disease Clara Morrison, 66. city hospital. Intestinal Obstruction John Rose. 74. 536 West Vermont, chronic parenchymatous nephritis. Dorothy Helen Ktuge, 10, 3405 East Tenth, diphtheria,

New York Stocks (By Thomson A McKinnon) ————

Prev: ! Railroads— High. Low. 12 M. close. Atchison 281* 278% 279 279 s . ' All Coa-t Line .... ... ... 186 j Balt A- Ohio .. 133 131 132% 134 1 Canadian Pa 216% 213 213 "213% Cheva * Ohio ... 267% 267 268 Che: a Corp 82’. 81% 81'* 82'. Chi A: N West. 97V. 96', 87'. 98'. Chi Grt West ..16% I*’. IS 1 . 16'. |C R I A- P ...136 135 136 136% Dei A- Hudson ..193% 193', 193'. 195 1 Dei & Lacks ... 158 156', 156', 158% Erie 80% 79% 79', 80', , Erie Ist pfd 64', 64', 64', 64'. Grt Nor 113', Gulf Mob A Oil.. 47'. 47% 47',. 46’, 111 Central 137 137 137 137", Lehigh Valley ... 83% I Kan City South I ... 97 I Lou A Nash 143', 143 143 144 Minn S L 2". 2’, 2’, 2% M K A T 58', 56', 57', 57', Mo Pac pfd 141’, 141', 141', 141 1 , N Y Central .. 221 221 221 224', j N Y C A St L. . ... 1.. 177 'NY NH A H 130 127’i 128', 129 i Nor Pacific .... 102 101', 101’, 102 * s Norfolk A West. 274% 273", 274 7 , 274% !O A W 19'. 19 7 19 19'. i Pennsylvania ...101'/, 100% 101% ,101% P A W Va 145 Reading 127 126% 127 130 Seab’d Air L ... ... 141/, Southern Rv ...149 149 149 149 Southern Pac ..141 139 1 i 139% 140 St. Paul 38', 38', 38', 38% St. Paul pfd 60 58', 59', 60'", St L A S W 88 88 88 ; St L A S W 122 122 122 12 i 1 i Texas A Pac , . 145 'Union Pacific .269% 265'. 265', 265% 1 West Maryland 37 37 37 37 Wabash 63% West Pac 33 33 .33 33% Rubbers— Ajax 3% Fisk 7 7 7 7V, Goodrich 66'2 65% 84% 65% Goodyear 103 101'. 10P, 103% Kelly-Spgfld ... 8% 8% B', B'2 Lee 10*. 10 10% 10% j United States ... 53% 52% 52% 52% Equipments— Am Car A Fdv ... ... ... 93 Am Locomotive. .113% 113% 113% 112'5 Am Steel Fd 57 56', 57 55% Am Air Brake Sh 55 55 55 55 Man Elec Sup... 27 27 27 27% General Eler ...354% 347% 350 354% Gen Ry Signal... 109 107% 109 109% Gen Am Tank.. .118% 117% 117% 117 N Y Air Brake.. 46% 46% 46% 46% Pressed Stl Car.. 16% 16 16% 15% Pullman 94 92% 92'/, 93% Westlngh Air B. 60% 59 V. 60 60% Westingh Elec ..230% 225% 227% 229', Steels— Am Roi Mills ...132 130% 130% 132% Bethlehem 114 112% 112 V. 115% Colorado Fuel ... 61 Crucible 100’,, 100% 100% 102 Gulf States Stl 71 Inland Steel ... 96 96 96 96% Otis 53*i 52% 52% 53% Rep Iren A Stl. .122',, 117% 120 V, 122% Ltlt lum 92 91 91 93% U S Steel 218% 214% 216 218% Alloy 55 7 , 55% 55% 56% Warren Fdv 23', 21% 22% 21% Youngstwn Stl .... ... ... 131% Vanadium Corp. 82 81% 81% 84 Motors— An Bosch Mag.. 64% 63', 64 63% Briggs 22% 22% 22% 23% Broc.itway Mot... 26% 24% 24% 27 s a Chrysler Corp .. 57% 56% 57 57% Eaton Axle ."49% 47', 48% 50 Graham Paige .. 17 16% 16% 16% Borg Warner ... 56 54', 54% 56% General Motors.. 63% 62% 63% 64% Elec Stor Bat, ... 101 99% 99% 100% Hudson 73% 72% 73 73% Hayes Bod Corp. 20', 19% 19% 20% Hupp 508, 40% 40% 40% Auburn 414 Mack Trucks ... ... 94 Marmon 41 41 41 41% Reo 16% 16% 16% 16% Gardner 7% 7% 7% 8 Motor Wheel ... 38% 38% 38% 38% Nash 79% 79 79 80 Packard 25% 25% 25% 25% Peerless 11% 11% 11% % Studebaker Cor.. 63% 63 63 63% Stew Warner ... 57% 56 56 57% Timken Bear ...139% 136 136 137% Willy.s Overland. 17% 17% 17% 18 Yellow Coach ... 23% 22% 22% 23% White Motor ... 45 Mining— Am Smlt A Rfg.109% 108 108 109 Am Metals .... 67% 66 66 66% Am Zinc . ... 19% Anaconda Cop 112 110% 110% 112 V, Calumet A Ariz .. ... ... 121% Calumet A Hecla 48’% 40', 40V. 40% Cerro de Pasco.. 80 88% 89 81k Dome Mines .... 8% 8% 8% 8% Andes ... ... 49% Granby Corp .... ... ... 84% Green Can Cop 173 Gt Nor Ore 29% Inspiration Cop 40% 40% 40% 41% Howe Sound ... ... 60 Int Nickel 52% 51% 51 Vi 52% Kennecott Cop 80% 79 U 79% 80% Magma Cop ... ... 70% Miami Copper.. 40% -40% 40% 4U‘„ Nev Cone 44% 43", 44% 45 Texas Gul Sul.. 68V, 67% 67', 67V, St Joe 76% 73% 74 76 U S Smelt 46% Oils— Atlantic Rfg.... 59% 57% 58% 57% Barnsdall (At .. 34% 34 34% 35 Freeport-Texas 4 2% 42% 43 Houston Oil . 92% 90% 90% 91% Tndp Oil A Gas. 30% 30% 30% 29% Confl Oil 37 35% 36'% 35% Mid-Cont Petrol. 34% 33% 34 33% I,ago Oil A Tr., 31 31 31 31% Pan-Am Pet B. 65% 65% 65% 65V. Phillips Petrol. 41% 40% 40% 41 Prairie Oil 54% 54', 54% 55% Union of Cal 53 52', 53 53V. Prairie Pipe 62% 62% 62% 62% Pure Oil 2'*% 29% 29% 29% Roval Dutch ... 63% 62% 62% 62V. ißeh sidle 38% 38% 38% 38% Shell 27% 27% 27V. 27% Simms Petrol ... 33V. 32 32 33 Sinclair Oil 35% 34% 34% 34% Skelly Oil 40% 40% 40% 39% Std Oil Cal .... 76 74% 74% 75 Stu Oil N J 82% 81 Vi 81% 81% Std Oil N Y 44% 4 4 44 * 43% Tidewater 18% 17% 18% 17% Texas Corp 63% 63V, 63Vi 63 Texas C A O ... 15% 15% 15% 15% Transcontl 12% 12% 12% 12% White Eagle 34 Industrials— Adv Rumley 32 Allis Chal new. 62% 62 62 62% Allied Chemical 310% 310 310% 314 ■ A M Byers ...158% 154% 154% 160 Armour A 1014 10% 10% 10 Amer Can 169 166% 168'4 169% Aliegehancy Cor. 44% 43% 43% 44% Am Ice ... 43'. Am Wool 13'i 13Vi 13% 13% Assd Dry Goods. .. . ... 48% Bon Alum V.. ... 101 Coca Cola 148% 148% 148% 148% Conti Can 81% 80% 81 Vi 82% Certainteed ... ... 25 Croslev 74 Vi 67 67 76 Congoleum 23% 23% 23’i 23% Curtiss W 14 12% 12% 14 Davidson Chem 53 50'. 50% 53 Dupont 186 184 184 188 Famous Players 73% 72% 72% 74 Gen Asphalt .. 82% 81% 82 V. 81% Fox (A) 97 95% 96 97 Gold Dust 64 63% 64 64 Vi Gllddrn ... ... 56 Int Harvester ..11214 ill ill 112*4 Kelvinator .... 12% 12'/. 12% 12% Lambert 124% 123 124% 124% ! Link Belt 45% i Loews 60% 60', 60% 60% May Stores .... 86% 85% 86% 87% Kolster 18% 16 16 19 Montgom Ward 104 100 101% 105% Natl C R 121 118 118 120% Radio Keith ... 33 Radio Corp 86% 84 86% 88', Real Silk 7% 70% 71% 70 P.cm Rand 55% 53% 53Vi 55% Sears Roebuck .148% 145% 145% 150 Union Carbide. 118% 115% 116% 118% Warner Bros ... 52% Un Air Craft 100 98% 99 100 Univ Pipe 6 6 6 5% U S Cs Ir Pipe .. 23% U S Indus Alco 234% 229 230 232% Worthington Pu 118% 116 118% 117 Woolworth C 0... 92% 91% 91% 93% U S Leather 21 Vs 21 % 21% 21% Utilities— Am Tel A Tel 292 286 288 291% Am Pr A Lt. .. 124 120 120 123'. Am For Power 151'. 145% 146% 149% Am Wat Wks 156 1 45 145 154 Gen Pub........ 64', 63 64% 63% Col O A E 116% 112% 112% 117 Consol Gas ~144% 139% 140% 144% Elec Pow A Lt.. 62% 60% 61 62% Int T A T 126% 123% 123%' 125 I Nor Am Cos 140's 138 138 140% Pac Light 114 113 114 115 Pub Serv N J... 115% 111% 111% 115% tSo Cal Edison.. 76 74% 74% 76% Std Gas El 98% 191% 191% 199

On Commission Row

FRUITS Annies—Delicious, box extra fancy, *4: far.cv. $3.75: choice. $2®2.75: Wealthv. *2.50: Maiden Blush *2.7S'Ti 3: Jonathans. *2.75: Grimes Golden. *2.75: extra fanev tox. Grimes. S3: New York Duchess. 52.25 02.50; Gravenstein. S3: Woll River. 53.50. Cranberries—s3.7s a 25-lb. box; 57.25 a 50-lb. box. Grapefruit—Florida. S6. Grapes—California, seedless. $2.25 a crate: Malagas. $2 a crate; Tokavs. *2. Lemons—California, a crate. sls. Limes—Jamacia *2.2503. Oranges—California Valencia. $3.75®8. Peaches—New York. *4 a bu. Plums—S2.7s Idaho. 16-Ib. case. SI. VEGETABLES. Beans—Green, stringless. 52.75. Beets —Home-grown, doz. 40c. Carrots—Home-grown, doz.. 50c. Cabbage—s3.so a barrel. Cantaloupes—Flats. $1.2501.50: Honeydew. $1.75: Casaba melons. $1.75; Colorado $2.25: Tiptops, barrels. $4.50: Jumbo. $1.50. Cauliflower—Colorado crate *1.75. Corn —Home-grown. 25 a 30c a dozen. Cucumbers—Hothouse, a dozen. $1.25. Eggplant—sl.so4l2 a dozen: $25 2.25 a hamper. Kale—Spring, a bushel. sl. Lettuce—California Iceberg. $6 a crate: home-grown leaf a bushel. sl. Mustard—A bushel. sl. Onions —Indiana yellow. $2.25 a 100-lb. bag. ParsleT— Home-grown, doz. bunches. 45c. Peas—Colorado. $6t6.25 a hamper. Peppers—Home-grown. $1.50 a bushel. Potatoes—Wisconsin and Minnesota white. $4.50', 1 4.75 a 160-lb. bag: Red River Ohios. 12 lbs.. $3.75: Idaho Russets. *3.75. Radishes—Button, hothouse, dozen. 50c: Southern long red. 154?25c dozen. Sweet potatoes—Virginia Jersey*. *4 a barrel: $2 a bushel: Indiana Jerseys. *2.25 ‘ Tomatoe*—Home-grown a bushel*. $2Vi *.50; 15-ih. basket. 60c.

.United Corp 59% 57% 57% 59*. Utilities Power.. 46% 45% 45% 47 United G A ImD .. 46 I West Union Tel 250% 240% 245% 249 I SbiDping— Am Inti Corn.. 81 78% 79% 81% Am Shin A Com 2% 2% 2% ... Atl Gulf A W I 80', 78% 80% 77% Inti Mer M pfd. 39% 37 38V, 38 United Fruit 127% 126 126% 127 Foods— . Am Sug Rfg 75% Beechnut Pkg ..81 81 81 California Pkg . 78% 78 78 *77 1 Canada Drv .... 88% 87% 87% 88% Corn Products . .125% 122', 122', 125% Cont Bak A ... 66% Cuban Am Sug.. 11% 11% 11% 11% Hershey 137 135 135 Grand Union ... 22% 21% 21% 21V, Jewel Tea 59% Kraft Cheese ... 71% 69’, 69% 71 7 , Kroger 81% Bit's 81% 81% Loose Wiles 74% 74V, 74% 75% N9*l Biscuit ....219', 218% 219’, 219% (Natl Dairy 67% 66% 66% 67% Gen Foods 61% 61% 61'/i 61 Vi Stand Brands . 37 s , 37 37 37 Wagi Baking B. 8% 8% 8% 8% Tobaccos— Am Sumatra ... 41 Vi 40% 41% 39% Am Tob B 227 220 222% 224% Lig A Meyers ..106% 104% 104% 104% Lorlllard 26% 26>* 26% 26', R J Reynolds ... 59% 59% 59% 59% Tob Products B. 10 9'. 10 10 United Cigar St. 10% 9% 10% 10%

Business —and— Finance

Bn l nited Press NEW YORK, Oct. 17.—Loans on stocks and bonds to brokers and dealers by New York federal reserve reporting banks increased $88,000,000 in the week ended Oct. 16, to $6,801,000,000. Loans last week totaled $6,713.000,000 and a year ago $4,664,300,000. Wextark Radio Stores. Inc., will open eight new establishments before the end of October as part of a program of continued expansion, Simon Wexler, president. announced today. Three of these new stores, one in Waukegan, another in Forest Park and the third in Aurora, should be in operation by Oct. 19, while the other five, according to Wexler. will be open about Oct. 26. These latter stores are in Gary and Hammond. Ind., Portage Park, Chicago and Detroit. Natural gas sales of Missouri-Kansas Pipe Line Company in September, this year, reached anew high total of 382.027,000 cubic feet or all increase of 315 per cent over the same month in 1928, Frank P. Parish, president, announced today. In September, 1929, MissouriKansas sold 290,000,000 cubic feet more gas than it did in the corresponding month a year ago. The Ken-Rad Tube and Lamp Corporation reports net earnings of $242,471 after all charges but before taxes for the first eight months of 1929 as compared with 3123,127 for the same period of 1928, an increase of 93 per cent. Earnings for the period w.ere substantially larger than had been anticipated by officials. Preliminary estimates prepared several weeks ago indicated a gain in earnings of approximately 80 per cent. Public stock offering will be made shortly in the financing of the first lakes-to-gulf air passenger 'ine. established by ontinental Air 'Service. Inc. Fifty thousand shares of the sompany’s stock will be offered by a syndicate headed by W. G. Gates A Cos. at a price of 12.50 per share. Common stock of the Clark Equipment Company was today admitted by the board of governors to trading on the New York Stock Exchange. There are 250,000 shares of this issue authorized. The issue, since public offering several months ago, has been traded on the New York Curb Exchange. Gamewell Company reports net income after depreciation, taxes, for the month ending Sept 30 of $77,648 and for four months ending Sept. 30 of $330,121. This compares with $63,550 for the same month in 1928 and $259,834 for the -corresponding four months of 1928. The company has received a large contract for extension and replacement of equipment from the city of Mt. Vernon. New York. Unfilled orders now on their books amount to nearly $2,500,000 for combined companies. Announrement was made today that rights Issued to stockholders <of International Superpower Corporation to subscribe to additional capital stock at $75 a share in the ratio of one share of new stock for each four shares held expire on Oct. 21. Public Service Corporation of New sey for September and the twelve months ended Sept. 30. 1929 shows increases in both gross earnings and balance available for dividends for September. Gross earnings were $11,321,918 against $10,311,924 last year, an increase of $1,099,994 while net income from operations totaled $3,320,708 against $3,010,043, an Increase of $310,665. United Realties, Inc., which operates eighteen hotels including the Wardman Park and Carlton hotels in Washington, D. C., the St. Paul hotel In St. Paul. Minn., and the Fort Des Moines hotel in Des Moines, la., reports, for the eight months ended Aug. 31, 1929. net earnings available for dividends on its preference, stock of $169,448.95. This compares with the figure for the same period of 1928 of $72,815.76. On this basis the. dividend on the company’s preference stock is being earned about 2 1-3 times, after depreciation at the rate of $120,000 per annum. Further expansion of the American Commonwealths Power .Corporation is seen in the announcement today of plans to acquire six additional public utility properties. Frank T. Hulswit. president, makes public these plans in a letter to the preferred and common stockholders of the corporation. Os the six properties now under negotiation, the Ramapo Gas Corporation, operating in Rockland county. N. Y.. will be the first New York property in the far-flung American Commonwealths Power System. LAND DEEDS OFFERED Park Board Gets Grants for Opening Fall Creek Boulevard. Deeds for the right of way to extend the Fall Creek boulevard from Keystone to Millersville will be submitted to the park board on next Thursday by Park Engineer J. E. Perry. Property owners have offered to donate land for the extension. Bond issue of $33,600 for a Christian park shelter house was ordered by the board Thursday.

DIVIDEND NOTICE PUBLIC UTILITIES SECURITIES CORPORATION t Cumulative Participating Preferred Stock At a meeting of the Board of Directors of the Public Utilities Securities Corporation held this day it was resolved that this corporation declare and pay to the holders of its $6.50 Cumulative Participating Preferred Stock of record at the close of business October 22, 1929. a dividend of One Dollar and Sixty-two and one-half Cents 6 i>er share, being the regular quarterly dividend on said Preferred Stock and also an extra dividend of Twelve and one-half Cents (1 2Yii) per share payable November 1, 1929. K. L. CLARKE, President. Dated October 11, 1929.

Thomson & McKinnon INDIANAPOLIS CHICAGO NEW YORK MEMBERS New York Stock Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Board of Trade New York Curb Association 300 Fletcher American Bank Bldg. Telephone Lincoln 5501

THE INDIANAPOLIS TIMES

PORK MARKET SELLS HIGHER AT CITY PENS Cattle Slow With Steady Trend; Vealers Are Unchanged. Oct. Bulk Top Receipts 11. $9.75*r 10.10 $lO 15 7,500 12. 10.00® 10.25 10.35 4,000 14. 10 40 10.40 6.000 15. 10.00 10.10- 9.000 16. 9 90® 10.00 10,00 5.000 17. 9.65 9.90 6.000 18. 9.90® 10.00 10.00 5,000 The hog market was mostly 25 cents higher today at the Union Stockyards. The bulk, 150 to 300 pounds, sold at $9.90 to $10; a few short loads brought $lO.lO. Receipts were 5,000: holdovers. 626. Cattle were slow to steady. Better grade of steers were selling at $11.50 to $16.10. Vealers unchanged at sl6 down. Sheep and lambs were steady, with a good choice of lambs selling at sl2 to $12.50; others at sll down. Chicago hog receipts were estimated at 18,000, including 5.000 directs; holdovers, 6,000. The market was 10 cents to 15 cents higher than Thursday’s average, a few bids and sales on choice of 170 to 280-pound weights sold at $9.75 to $9.85; good and choice brought $9.60 to $9.65. Cattle receipts were 2,500; sheep, 11.000. —Hogs— Receipts, 5.000; market, higher. 200-250 lbs $ 9.90® 10.00 160-200 lbs 9.75 lbs 9.50® 9.75 90-130 lbs 9.50® 9.75 Packing sows 7.75® 8.75 -CattleReceipts, 600; market, steady. Beef steers $11.50ffi16.10 Beef cows 7.00® 9.50 Low cutter and cutter cows... 5.00® 6.50 Bulk stock and feeder steers.. [email protected] —Calves— Receipts. 550; market, steady. Best veals $15.00®16.00 Heavy calves [email protected] —Sheep— Receipts. 700; market, steady. Tpp fat lambs $12.50 Bulk fat lambs <.... 12.00® 12.50 Bulk cull lambs B.oo® 10.50 Bulk fat ewes 3.50® 5.50 Other Livestock Bn United Press CHICAGO. Oct. 18.—Hogs—Receipts. 18,000; including 5,000 direct; market, mostly 15 to 25c higher ;top. $9.95; bulk, good to choice. 150-330 lb. weights, $9.75 ® 9.90; packing sows. $8.25® 8.75; choice, 340-lb. butchers. $9.40; butchers medium to choice. 250-350 lbs.. $9.25®9.95; 200-250 lbs., $9.50® 9.95; 160-200 lbs., $9.50®9.95; 130-160 lbs.. $9.25® 9.90; packing sows. $7.90 fti 8.90: pigs, medium to choice, 90-130 lbs., s9® 9.70. Cattle—Receipts. 2 500; calves. 1,000; market, slow with steady trading; most activity on meagre supply of light heifers and mixed yearlings, grading good and better and on low priced cows, selling $7 and down; bulk steers. $14.50; bulk $13.50 down; slaughter classes, steers, good and choice, 1300-1500 lbs.. $13®16.50; 11001300 lbs.. sls.so® 16.50; 950-1100 lbs.. $13.50® 16.50; common and medium. 850 lbs. up. sß.7sfti 13.75: fed yearlings, good and choice. 750-950 lbs.. $13.75® 16.50; heifers. good and chvfce. 850 lbs. down. $13.50 fti15.25; common and medium. sß® 13.50; cows, good and choice SB.7S®U; common and medium. $6.75®8.75; low cutter and cutters. $5.50®6.75; bulls, good and choice, beef, sß.7sft< 10.75; cutter to medium, $7.20 ®9; vealers, milk fed, good and choice. $12.75® 15.50: medium. $11.50® 12.75; cull and common $7.50ftiU1.50: stocker and feeder steers, good and choice, all weights. $10.75® 11.75: common and medium. $8.25® 10.25. “ Sheep—Receipts. 11.000; market, steady; native lambs. [email protected]: few, [email protected]: bulk fat ewes. $4 50®5.25; feeding lambs steady; lambs, good and choice 92 lbs. down. $12.25® 13.50; medium, sll4B 12.25: cull and common. $7.50® 11; ewes, medium to choice, 150 lbs. down. $4®5.50; cull and common. $2.25® 4: feeder iambs, good and choice, $12.25®13.40. Bp United Press PITTSBURGH, Oct. 18.—Hogs—Receipts, 1,800; market, active and stronger to 10c higher; 160-200 lbs., $10.30® 10.40; 230250 lbs., mostly $10.25; heavy hogs, $9.50® 10; 90-130 lbs.. $9.75® 10. Calves—Receipts, 50; market, slow and steady; top vealers, sl7; heavy calves, $ 10@15- Sheep—Market fully steady; top fat lambs, $13.25. Bp United Press CLEVELAND, Oct. 18.—Hogs—Receipts, 1.200; market, steady; 250-350 !bs., $9.50® 10.50: 200-250 lbs.. sloftjlo.so; 160-200 lbs., sloftilo.so; 130-160 ibs., $10®10.50; 9-130 lbs., $9.85ft(10: packing sows, sß.2sft! 8.50. Cattle—Receipts. 200; calves, 200; market, steady; beef steers, $8.25ft19.75; beef cows, s6.7sfti 8; low cutter and cutter cows. ssftc 5.75; vealers, $12.50ft818. Sheep—Receipts. 1.100; market, steady; bulk fat lambs, sl3 ft! 13.25; bulk fat ewes, $5®5.50. /?,!/ Times Special LOUISVILLE, Ky., Oct. 18.—Hogs—Receipts. 800; market 5c higher: mediums and lights. 130-250 lbs.. [email protected]; extreme heavies, 250 lbs. up, $9.25; pigs. 130 lbs. down. $6.20ft!;7.45; stags and throwouts, s6.7ofti 7.30. Cattle—Receipts. 300; market, steady; prime heavy steers, [email protected]: heavy shipping steers. s9@ll; medium and plain steers. $7.50® 9; fat heifers. $7®10.50: good to cohice cows, $6.50®8; medium to good cows. $5.75®6.50; cutters. $5.25ftf5.75; canners, $4.50®5; bulls, [email protected]: feeders $8ft810.50; stockers. s7ftß 10. Calves—Receipts. 300: market, steady to 50c higher: fancy calves, sls; good to choice. sll® 13.50: medium to good. sß® 10: outs, $8 down, sheep—Receipts. 100; market, steady; ewes and wethers. $11.50; buck lambs. $10.50; seconds. ss®7; sheep. s4®'s. Thursday’s shipments: Cattle. 148; calves, none; hogs. 323; sheep, none. Bn United Press FT. WAYNE. Ind.. Oct. 18 —Cattle—Receipts, 75: calves, receipts. 50; hogs, receipts. 300; sheep, receipts. 200: hog market. 20c higher; 90-110 lbs.. $8.70; 110140 lbs.. $9.20; 140-160 lbs.. $9.55; 160-200 lbs.. $9.75; 200-225 lbs. $9.85: 225-250 lbs., $9.75: 250-300 lbs.. $9.65; 300-350 lbs., $9.45; roughs. $8: stags, $6; calves, sl6; lambs, $11.50. NEW YORK COFFEE RANGE High. Low. Close. January 10.09 9.00 10.09 March 10.65 10.55 10.65 Mav 10.40 10.25 10.35 July 10.25 10.25 10.25 September 10.17 10.15 10.15 December 11.25 11.10 11.20

Indianapolis Stocks

—Oct. 18Bid. Ask. American Central L Ins C0....800 ... •Belt R R & Yds Cos com 60 63% •Beit R R A Yds Cos pfd 5a Bobb’s Merrill 33% 36% Central Ind Power Cos pld 5 .. 91 91 j Circle Theater 108 Cities Serv Cos. com 68 ••• Cities Serv Cos pfd 94 .. Citizens Gas Cos com 34 41 Citizens Gas Cos pfd.• 94 101 Commonwealth L Cos. pfd 7s Equitable Sec Cos com •_ Hook Drug Cos com 45 V* ... Horuff Shoe Corp com 14 Ind Hotel Cos Clavpool com.. 125 Ind Hotel Cos pfd 100 Ind Serv Corp pfd ?o ... Indpls Gas Cos com 58 62% Indpls & Norwtn Tr Cos pfd... 6 ... Indpls P and L pfd 100 102% Indpls Pu Wei L Assn c0m.... 51 •• Indpls St R R Cos pfd 27% 30% Indpls Wa Cos pfd .. 98 102 Inter Pub Ser pr lfn pfd 99% 102% Inter Pub Ser 6s 87 93 Merchants Pub Util Cos pfd.. 100 ... •Metro Loan Cos 97 101 •Northern Ind Pub S G pfd 7s 101 ... •Prog Laundry Cos com 50 52% E Rauh A Sons Fert Cos pfd.. 50 Real 811 k Hosier Cos pfd 90 ... Standard Oil of Ind 56% ... T H Indpls A Tr Cos Pfd 9 T H Trac A L Cos Did 80 ... Union Title Cos com 51 V Camp Prod Cos Ist pfd 94 100 V Camp Prod Cos pfd 90 ... Shareholders Invest Cos 27 28% •Ex-dlvidend. —Bonds— Bid. Ask. Belt RASY CO 4s 85 Broad RJpple Trac Cos 5s .... 60 Cent Ind Gas Cos 5s ....97 Central Ind Pow Cos 6s Chi S B A N Ind Ry Ist 5s Citizens Gas Cos 5s 98 101 Citizens Street Railroad 55... 63% 66 Gary St Ry Ist 5s 78 Home T A I of Ft Wayne 6s. 101 Indiana Hotel Cos 5s 97 Ind Northern Trac Cos 5s 3 5 Ind Railway and Light Cos 55.. 95 Indiana Service Corp 5s Indpls Power and Light C 0... 94 ... Indiana Union Trac Cos 5s .... 3 ... Indpls Col A Trac 5s 96 ... Indianapolis Gas Cos 5s 96 ... Indpls a Martinsville T Cos 5s 15 Indpls No Trac Cos 5s 10 ... Indpls A W Trac Cos 5s 15 Indpls Street Ry 4s 51% 54% Indpls U Rv 5s J 1965 A B .. 98% ... Indpls Trac A Terminal Cos 5s 92 95 Indpls Water Cos 5%s 1953... 100 Indpls Water Cos 5%s 1954..100 Indpls Water Cos lien A ref 5s 92 .... Indpls Water Cos 4%s 89 95% Indpls Water Works Sec Cos.. 82 8S Indols Water Cos 4%s 89 ... Interstate Pub Serv 6%s 103 ... Interstate Public Service Cos 5s 93 ... No Ind Pub Service Cos 5s .... 91 No Ind Telegh Cos 6s 1931 97 99',. T H A E Trac Cos. 5s 52 T H Trac and Light Cos 5s ... 86 91 Union Trac of Ind 6s 13% ... Armour’s Widow Is Dead 8 11 United Press KANSAS CITY, Mo.. Oct. 13. Mrs. Rebecca C. Armour, 63, widow of Charles W. Armour, late vicepresident of Armour and Company, died hi Research hospital here Thursday night after a ten-day illness.

$32,000,000 Southern Bell Telephone and Telegraph Company FIRST MORTGAGE SINKING FUND 5% GOLD BONDS Completing the Total Amount of $50,000,000 Authorized to be Issuer! under the First Mortgage Dated January 2, 1911 Due January 1, 1941 Interest Payable January J and July 1 in New York City Coupon bonds in denominations of SI,OOO, SSOO registerable as to principal. Registered bonds in denominations of SSOO, SI,OOO, $5,000 and multiples of $5,000 coupon bonds and registered bonds, and the several denominations, interchangeable. Redeemable, at the option of the company, in whole but not In part, upon eight weeks* notice, on any interest date, at 105 per cent and accrued interest. Sinking fund, payable Dec. 1 in each year of amount equal to 1 per cent of the total amount of bonds previously issued, to be applied to the purchase of bonds at not exceeding 100 per cent and accrued interest, or such higher price as the company may direct. Any unexpended balance remaining in (he sinking fund to be credited to the next ensuing sinking fund payment. A legal Investment, in the opinion of counsel for saving banks In New York, Connecllcut. and certain other states. RANKERS TRUST CO., NEW YORK, CO-OPERATE TRUSTEE Ben 8. Read, Esq., president of the company, has advised us as follows with regard to this issue: PROPERTY Southern Bell Telephone and Telegraph Company, with its subsidiary and connecting companies, provides telephone service throughout Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and most of Kentucky, and serves a population estimated at 21,• 000,000. The book cost of the company’s real estate, buildings and telephone plant, which cost is considerably Jess than their present yalue, was over $203,000,000 on Sept. 30, 1029. After giving effect to this financing, total assets (less current liabilities) will be over $224,000,000, whereas the total funded debt, Including this issue, will be $63,309,230. SECURITY * * lO rst mortgage covers a first lien all the property now owned or hereafter acquired by the company, subject only to liens, so far as they attach, of obligations assumed at the time of the acquisition of property additional to that described in the mortgage. Such prior lien obligations are outstanding in the amount of $15,797,730. The issuance of bonds under the first mortgage is limited to an amount of $50,000,000. This issue completes the total authorized amount since 818,000,000 bonds have previously been issued, of which $15,571,500 bonds are now outstanding, the balance having been retired by the sinking fund. *’* le Proceeds of tiie.se bonds will be used to pay for extensions and additions recently made and F ISST E to b- made to the property of the company subject to the lien of tills mortgage as a first lien. EARNINGS T * le f°H ovvjn K statement of earnings includes the earnings of the Cumberland Telephone and Telegraph Company for the period prior to the acquisition of its property as of June 30, 1926. * Years Net Earnings '' Ended Gross Available Interest . Net •v , Dec. 31 Revenues for Interest Charges Income 1924 $37,224,427 $7,857,905 $2,035,513 $5,822,392 1925 42,955.392 8,648,318 2,159,465 6,488,853 1926 48,528,484 9,380,344 2,487,985 0,892,359 1927 52,145,197 10,441,519 2,538,311 7,903,208 -,928 57,008,791 12,399,561 3,126,176 9,273,385 During this period of five net earnings available for interest liavd averaged over 3.9 times total Interest charges. The net earnings a.ailable for interest in 1928 and in the first 9 months of 1929 were at the annual rate of more than 3.9 times the annual interest requirements on the funded debt of the company as it will be outstanding after the issue of these bonds. The company has outstanding capital stock in the amount of $124,999,000 of which nearly 100 EQUITY per cent owned by the American Telephone and Telegraph Company. Dividends on the stock as outstanding from time to time have been paid at the rate of not less than six per cent per annum since 1906. The present is 8 per cent per annum. TIIE ABOVH BONDS ARE OFFERED. SUBJECT TO PRIOR SALE AND TO THE CONDITIONS STATED BELOW, AT 100 PER CENT AND ACCRUED INTEREST FROM JULY 1, 1929. The right is reserved to reject any or all applications, and also, in any case, to allot a smaller amount than applied for. All applications icill be received subject to the due authorization, issue and sate of the bonds as planned, and to approval by counsel of the form and validity of related documents and proceedings. The amounts due on confirmed sales will be payable at the office of J. P. Morgan and Cos. in A(W } ork funds to their order, and the date of payment will be stated in the confirmations of sale. Tempo) at y bonds or interim receipts, exchangeable for definitive bonds when received, are to be delivered. / J. P. MORGAN & CO. KIIIN, LOEB & CO. KIDDER, PEABODY & CO. FIRST NATIONAL BANK, New York THE NATIONAL CITY COMPANY' BANKERS COMPANY OF NEW YORK GUARANTY COMPANY OF NEW YORK HARRIS TRUST & SAVINGS BANK HIGGINSON & CO. New York, October 18, 1929.

GRAIN PRICES REPORTED UP AT LIVERPOOL Corn and Oats Continue to Advance With Wheat. Bn United Press CHICAGO. Oct. 18—A sharp cut in the estimates of the Australian wheat crop brought a firm tone to the Chicago futures trade today, when the market followed the strong action of Liverpool. Argentine crop reports continued bullish and Buenos Aires opened slightly higher. Com and oats advanced fractionally with wheat. At the opening wheat was Li to 1 cent higher, corn was up % to -Lt cent and oats were Li to % cent higher. Provisions were about steady. While the break in wheat futures came in the face of new low estimates on the Argentine crop, traders at first were disinclined to act bullishly because of the mixed character of these South American reports. Now the Argentine damage news is accepted generally, and at the same time profit-taking shorts have added another sustaining influence. The strength of cash corn has been a help to the futures market against the impending movement of new crop grain. Eastern states continue to buy heavily for feeding purposes. Oats can advance when the other grains are strong, but show no indication of an independent trend in spite of the short crop. Bp Times Special CHICAGO. Oct. 18.—Carlots; Wheat, 23; corn, 185; oats. 21; rvc. 14.

Local Wagon Wheat

City grain elevators are paying $1.14 for No. 2 red wheat and sl.lO for No. 2 hard w heat,

Produce Markets

Eggs—Country run. loss off delivered in Indianapolis. 38c; hennerv qualitv. 46c. No. 1 36c: No. 2. 26c. Poultry (buying prices'—Hens, weighing 4% lb. or over. 23®24c: under 4% lbs.. 21c Leghorn hens. 15c to 17c; roasting chickens. 4% lbs. or over. 21c to 22c: springers under 4% lbs.. 18c to 20c: springers over 4% lbs., 21®22c: Leghorn springers. 15c: old cocks. 14c to 15c. Young turkev hens imust be fat' 32c: voung toms. 28c: old hens 24c: ovd toms. 20c. Ducks 'full feathered! 12c. Geese (full featheredi Pc. Guineas. 30c. These nrices are for No. 7. top aualitv poultry. Quoted bv Kmgan A Cos Butter (wholesale'—No. 1. 49fti50c: No. 2. 47m 48c. Butterfat—46c. Cheese (wholesale selling price per pound (—American loaf. 35c: pimento iosf. 37c: Wisconsin firsts. 27c; Longhorn. 27c; New York limberger. 30c.

Cash Grain

The bids for car lots of grain rl the call of the Indianapolis Board of Trade, f. o. b. shipping point, basts 41 %c New York rate, were: Wheat —Steady; No. 2 red. sll9® 1.21; No. 2 hard., $1.16% 118. Corn —Easy; No 2 white, 90%® 91 %c No. 3 white. 89%ft! 90%c: No. 2 vellow, 87%® 88 1 jc; No. 3 vellow. 86%®87%c: No. 2 mixed, 85'.-fti 86%c; No. 3 mixed. 84% u 85%c. Oats-Firm: No. 2 white, 43', 1 44c; No. 3 white. '2% ■ |3t. Ho- ~ No. 1 timothy, $15.50®1G; No. 2 timoihy, $15*i15.50; No. 1 light clover mixed. 1 u fti 15. —lnspections Wheat—No. 2 red. 7 cars; No. 3 red. 1 car; No. 4 red. 1 car; No. 5 red. 1 car; No. 2 hard. 2 cars. No. 4 hard. 2 cars. Total. 14 cars. Corn--No. 1 while. 1 car; No. 2 white, 2 cars; Nb. 1 yellow. 11 cars; No. 2 yellow. 22 cars; No. 3 yellow. 2 cars; No. 2 mixed. 2 cars. Total, 40 ears Oats —No. 2 white, 5 cars; No. 3 white. 2 cars; Sample white. 1 car. Total 8 cars. Chicago Grain Table —Oct. 18— WHEAT— Prev. High. Low. 12:00 close. December ... 1.31% 1.29% 1.30% 1.30% March 1.39% 1.37% 1.38% 1.38% Mav 1.42% 1.41% 1.41% 1.41% CORN— December ... .93% .92% .92% .92% March 98% .97% .97% .97% May 1.00% 1.00% 1.00% 1.00 OATS— December ... .50% .50% .50% .49% March 52% .52% .52% .52% May 54% .54% .54% .54 Decemoer ... 1.06% 1.05% 1.05% 1.06 March 1.11% 1.11% 1.11% 1.10% Mav 1.12% 1.12% 1.12% 1.12% LARD— December .. 10.95 10.95 10.95 10.95 January .. 11.45 11.40 11.45 11.40 May 11.77 11.75 11.77 11.72 In the Air Weather conditions at 9:30 a.m.: South wind, seven miles an hour; temperature, 56; barometric pressure, 30.19 at sea level; ceiling, unlimited; visibility, one and one-half miles; smoke and haze clearing; field, good.

PAGE 33

ASK TEACHERS' AID AT POLLS Citizens’ School Ticket Support Is Urged. Appeal to Indianapolis school teachers to support the citizens* school ticket in an effort to obtain a nonpartisan school board was made today by the citizens school committee. In part the letter said: “We, like thp members of the j teaching profession, are interested j in seeing our children given the best school possible. We don't believe thus can bp done until politics has been driven out of our school administration. “May we have your moral support, although we can’t In the nature of things have your active support in this endeavor?” Mrs. Maud Miller and Julian Wetzel, citizens' candidates, spoke at the South Side Y. W. C. A.. 717 South Alabama street, this afternoon. Donovan Hoover, committee secretary, spoke before Indianapolis Woman's Club at the Fropylaeum. Mrs. J. J. Daniels presided. HOLD BURIAL SATURDAY 1 Funeral of Airs. Nanette Vonnegit Will l>e at Crown Hill. Funeral services for A#s. Nanet ? Schnull Vonnegut, 70, widow of Bernard Vonnegut. architect, 3707 North Meridian street, who died Thursday, will be held at the Flanner & Buchanan mortuary, 25 West Fall Creek boulevard, Saturday at 11 a. m. Burial will be in Crown Hill cemetery. Mrs. Vonnegut, who was born in Indianapolis, was on the board of trustees of the Indianapolis Orphans’ Home for many years and was a member of All Souls’ Uni- ; tarian church. A daughter, Mrs. 1 Kurt Linderer of Hamburg, Ger- | many; two sons, Kurt and Alex I Vonnegut; a sister, Mrs. Clemens I Vonnegut. and a brother, Gustave I A. Schnull, survive herb.