Indianapolis Times, Volume 41, Number 211, Indianapolis, Marion County, 13 January 1930 — Page 13

JAN. 13, 1930.

RAILROADS TAKE LEAD IN UPTURN OF STOCK MART Selling Pressure Eases in Afternoon Trade: Steel Rallies.

Average Stock Prices

Average of thirty Industrials Saturday wa% 248 71. off 130, twenty railroad:,. 140.41. Oft .24 twenty urilltles. 83.31. oft .37; twer-ty bonds. S4 31. of T .03. Hu Unite and Press NEW YORK. Jan 13.—Railroad shares came into the forefront on the Stock Exchange today, advancing fractions to 3 points while the industrial lest contir ucd to fluctuate in an irregular course. Trading was brisk early, but it then slumped of! to the quietest in more than a year In the first hour. Sales were light, on selling while activity developed when an upturn occurrred. List Rallies Around midday the list was showing signs of rallying in some sections. Montgomery Ward had iieen under pressure in the early trading, but it quieted down and then rallied toward noon. Wabash soared more than three points and Atchison gained three points. Gains ranging to more than a point were scored by Penna, Allegheny Corporation. Erie and Baltimore & Ohio. Penna led in activity with expectation of further gatns when rights expire Wednesday, Missouri, Kansas, Texas also was active, but held around the previous closing price. Motors Active With rails moving forward the .selling movement was slowed up in the main list. United Elates Steel railed, as did American Can, the latter rising substantially and leading the list Among the motors General Motors was most active and Hudson made the best gain. Gold Dust and Standard Brands were higher in the food department. Farm equipments were strong. Announcement that Ligget Stores had advanced the price of cigarets gave evidence that the cigaret price war was drawing to a close. No change was made by United or Schulte and their stocks continued to move downward. Call money held unchanged o 4Vi per cent.

Banks and Exchange

INDIANAPOLIS STATEMENT Indianapolis bank clearings Monday. Jan. 13. $4,749,000; debits, $7,437,000. CHICAGO STATEMENT By United Press CHICAGO. Jan. 13—Bank clearings, *89,300,000; balances. 55.900.000. NEW YORK STATEMENT Bu United Press NEW YORK, Jan. 13.—Bank clearings, *668 000.000; clearing house balance. $128.000,000: federal reserve bank credit balance, $125,000,000. TREASURY STATEMENT Bu Unlti Ii Press WASHINGTON. J?.n. 13. -The treasury net balance Jan 10, $129,839,208.98; customs receipts, for the month to that date. $12,530,131.44.

Produce Markets

Egg* (countrv ruul—Lo.'S off delivered in Indianapolis, 38c: henerv quality. No. 1, 42c; No. 2. 32c; No. 3.28 c. Poultry (buying prices! —Hens weighing 5 lbs. or over ,24c: under 4 lbs.. 2lc: Leghorn hens. 18c; springers. 5 lbs. or over 22c; under 5 Ibs.. 20c; spring Leghorns. 15c; stags. 14c; cocks. 14e; capons. 8% lbs. or over. 28c; capons. 7% lbs. or over. 26c; capons ana slips, 5 Ibs. and over. 33c: capons. 5 lbs. and under. 20c: ducks, full feathered, fat. whites 13c. These prices are for No. 1 too quality, quoitd bv Ktngan A; Cos Butter (wholesale' — No. 1. 36037 c; No. 3.3455 35c. Butterfat—33® 34c. Cheese iwhotesßie selling price per pound l —American loaf. 35c: pimento loaf. 37c: Wisconsin firsts. 27c: Longhorns. -7c. New York iimber~er. 30c. It" United Press NEW YORK. Jan. 13.—Flour—Dull and unsettled: spring patents. $6.35® 6.85. Pork—Dull; mess, $26.50. Lard—Steady; middle nest spot. $10.750 10.85. Tallow— Steady; special to extra, 7%®7%c. Potatoes—Quiet and steady: Long Island, $2 25 ®6.40; Matne. $2.50 0 5.50; Bermuda. $4.50 ®ll. Sweet potatoes—Dull; southern basket*. 60c rslso: Jersey. 50c® $2.25, basket. Dressed poultry—Quiet; turkeys. 26'.> 43c; chickens. 19® 40c; capons. 27®44c; fowls, 18034 c: ducks. 15025 c; ducks. Long Island. 33026 c. Live poultry—Quet; feese. 12® 20c; ducks. 12® 23c; fowls, 27® lc; turkeys. 20030 c: roosters. 16c: chickens. 19c?25c: broilers, 20® 33c. CheeseQuiet; state whole milk, fanev to special, 35% ®26c; Young Americas, 22Q24%c. Bu United Press CHICAGO. Jan. !3—Fjcfs—Market, unsettled receipts. 10.943 cases; extra firsts. 43 ti 43 %c: firsts. 41c: ordinaries. 39® 40c; seconds. 28"35c. Butter Market, firm: receipts. 10.663 tubs: extras. 33%c: extra first. 32® 32 %e: first' 30031%c: seconds. 280 39c. standards. 33c. Poultry- Market, firm: receipts. 2 cars; fowls. 26® 26'ic; springers . 21 %c: Leghorns. 20c: ducks, li'c geese 13® 14c tttrkevs. 25c; roosters, 18c! broilers. 20® 32c. Cheese -Twins. 20% ®2o%c voting Americas. 23c. Potatoes— On track. 252 arrivals. 144: shipments, 925: market) bar-1’- steady . u l; sacked Round Whtie. $2.45 0 2.60: Idaho sacked Russets $3.100 3.25: Michigan sacked Round Whites. *2.50 - 2.5a. Bu Uni'ed Pr< :n CINCINNATI. O . Jam. 13.—Butter— Stradv cree.merv iji tubs according to sc-re' 34sr 35c: common score discounted 2 3c; packing stock No. 1. 22c. No 2. 18c No. 3. !3c; butter f;’. 33 -34 c Eggs Lower, ease’ included Fresh gathered, 43c; firsts. 40c. seconds. 33c: nearby ungraded. 42c. live Poultry—Thin and coarse stock sells onlv at heavy discount. Fowls 5 lbs. and over. 37c 4 lbs and over 36c. 3 lbs. and o\er 23c; Leghorns, 3 ibs. and over. 21c: roosters. 15c. stags. 210 capons. 3 IK and over. 35c: under 8 lb* 30c: slip*. 3lc; fryers, colored, over S lbs.’. 30c: 2 lbs., and over. 30c: broilers. 1% lbs. and over. 30c: Leghorn broilers, 1% lbs. and over. 25c. roasting chickens. 4 ibs. and over. 2sc: Leghorns and Orpington fryers. 2 ibs. and over. 20c; black springers. 20c. B" V >’ Brest Cl. -AND. Jan. 13 —Butter—Extra*. 37%c: extra firsts. 37c: seconds. 38®28%c. —Extras. 46c; firsts. 44c. poultry Heavy fowls 28 r3oc: medium, 25®2.c: springers. 25"i 27c; Leghorn*. 22®.24c; sprngers. 20c, duck 20® 22c. Potatoes Idaho Russet. ‘4 Tfhi-’.b sack: Mvir.e Green Mour tain. *3.63®3.70 120-lb. sack; Ohio. $4 15 %50 150-lb sack New York. $4.350 4 50 150-lb. sack. Lower Rate Bu United Press BERLIN, Jan. 18 —The Reichsbank lowered the bank rate from 7 per cent to 6% per cent today.

•YELLOWISM’ CHARGED Meanness. Cowardly Conduct New Ailment, Pastor Says. Little meannesses, cowardly conduct, combining into an ailment termed “yellowism." is to be found throughout the nation today. Tliis was the declaration of the Rev. Orien W. Fifer, superintendent of the Indianapolis district of the Methodist Episcopal church at the Y. M. C. A. Big Meeting Sunday in the English theater. He asserted 'yellowism” is used by Americans in dealing with prohibition- world peace and other national questions.

New York Stocks ■““•By Thornton At McKinnon —

—J an. 13— Prev. Railroad*— High. Low. 12:00. close. A-'h!">n 227! 223 226*, 223% Atl Coast Line 166 Bait Ac Ohio 118*a 117 118'i. 117% Canadian Par . 195% 104 105*4 193*4 Ch f ’.a A- Ohio.. 207', 207', 207', 206 Chest, Corp .... 66*4 65% 66% Chi A N Wf't.. 85 84% 85 84% Chi Gr> West.. 15’, 15 15% 15 C R I & P 11654 116 116% 116*2 Del Ac Hudson.. . ... ... 166 Erie 59', 57*4 59'/, 575# Gulf Mob & OH.. 4 42*4 *7 II! Central 129 Lou A: Nash... .135*4 135*4 133*4 Mo Pac . 90 89', 90 89 \i K Ac T 54** 63'a 54 535, Mo Pac pfd 137% 137 137', c 136 N Y Centra! 170’, 168% 170 169 N Y C Ac St L.. 130', 130', 13054 NY NH Ac H 1115* 109% 111 110% Nor Pacific 87', 36*, 87*4 86 Norfolk Ac West. .223 228 223 O Ac W 15 13% 15 14'2 Pennsylvania.... 76', 74*? 75*4 74‘, Reading ... ... 129’.4 S' ab'd Air L 25 24*. 25 Southern Ry 136 , 136', 136 U 135 Southern Pac ...121*2 120*, 120*, 120'i 3t Paul 25', 34'2 25', 24’, St Paul pfd.... 46 5, 43 1 2 44’, 43% St L Ac S VV.... 64 62' 2 62'2 ... St L Ac S F 109’, 109 5 a 109', 1085# Texas Ac Pac 122 120 122 Union Pacific ,217 217 217 21752 West Maryland 27*, 25 s , 27 25*, Wabash 58*4 56 58*, 55*, West Pac 24'/* 24'a 24% ... Rubbers— Ajax 254 254 2% 2', Fisk 35# Goodrich . . . < . 43'2 Goodyear 65 65 65 64', Kflly-Spgfld .... 4% 4*4 ' 4*4 4', Lee ... 75, United States.... 255# 24*# 24’# 2554 Equipments— Am Locomotive JO3 103 103 102*4 Am Steel Fd 475* 47'2 47 5a 48 Am Air Brake Sh . . ... ... 48 Man Elec Sup.. 27'* 27*, 27'.- ... General Elec ..245', 243' 2 244', 244'2 Gen Rv Signal. 91 1 a 90*., 91', 90*„ Gen Am Tank..lo4 103*, 104 102% N Y Air Brake.. 46 46 46 Pressed Stl Car. .. ... ... B’# Pullman 85'/# 85 8.5 84 = 2 Westlngh Air 8.. 45'# +s'j 45% 46 Westir.gh Elec ..146’# 144', 146 144', Steels— Am Roll Mills 33 Bethlehem ... 96% 9b 1 2 955, 96% Colorado Fuel.. 41’# 41’, 41’, 415, Crucible 92 Pl'2 915. 91'2 O'u% 24*, 24*4 24*4 I.udlum 35'# 35 35 35 New ton 47‘ a 435* 47'* U S Steel 170'* 168*4 189/4 169% Ailoy 33 5, 33 335# 32’# Youngstwn Stl 108 Vanadium Corp.. 535a 52'# 53% 53 Motors— Am Bosch Mag.. 42% 42% 4252 425* Briggs 15 Chrysler Corp... 35 i 34’, 35 35*s Eaton Axle 30* 30', 30', 29'j Graham Paige... 9*-# 9’, 9*# 9 :> a Borg Warner.... 35*4 35*# 355# 33 Gabriel Snubbrs .. ... ... 7 General Motors.. 29'2 39 39’, 39 Hudson 565# 55', SO'* 5.V Haves Bod Corp 8 8 8 7% Hupp 23% 22% 23 22% Auburn 183 Mack Trucks... 72'2 7254 725* 72 Martnon 24 24 24 25', Reo 11% 11% 11% 115# Gardner 4 Motor Wheel . . ... 275# Nash 53% 53’, 53 s # 53 % Packard 16 15% 155# 16 Peerless ... 6% Pierce Arrow.... 115* 21% 21% ... Studebaker Cor.. 43’, 42% 43% 44 Stew Warner.... 41% 41% 41', 405# Timken Bear 76% 75% 755, 76 Willys-Overland. 8% 8 B*, 8% Yellow Coach... 135# 13% 135# 13% White Motor 31% Mining— Am Smelt Ac Rfg 73% 72’* 725* 73% Am Metals 47 47 47 ... Am Zinc 11% 11*4 11% 11% Anaconda Cop . 74*a 73*4 7454 74'.a Calumet Ac Hpcla 30% 30% 30% 30% Cerro de Pasco.. 63*4 63% 63% 62% Dome Mines 7% 75, 75# 7 Granby Corp 5o Gt Nor Ore ~ 21% Inspiration Cop. 29% 29% 295* 29% Kowe Sound.... 38 38 38 38’, Int Nickei 35’# 34% 34% 345# Kennecott Cop. 59'/# 58% 58*4 59 Magma Cop ..... , 50% Miami Copper.. 30 29% 39% 29”# Nev Cons ...... 30 39'# 30 30 Texas Gul Sul.. 57% 575* 57% 58 St Joe 8 U S Smelt 345*.. Atlantic Rfsr.... 38*# 38% 38% 38*1'. Barnsdal! (At... 23*'* 23% 23% 23* Freeport-Texas.. 43'# 42% 43’# 42% Houston Oil ... 56 56 56 #5 Indp Oil A: Gas 23*# 23*, 23*, 23’# Conti Oil 22% 22% 22% 22% Mid-Cont Petrol 26*# 26*, 26% 27 Lago Oil Ac Tr.. 21% 21% 21% 21% Par-Am Pet B . 585* 58!# 585* 2? I/8 Phillips Petrol .34 33% 34 34 Prairie OH ..... £154 51% 51% 51/# Prairie Pipe ... 59 58-, 58% 59 Pure Oil ....... 23*4 23% 23’# ... Roval Putcb ... 54-g 54% 54% o 4 Richfield 23% 23% 23% 23% Shril 235'# 23% 2354 23', Sinclair Oil .... 24 s # 235# 24 23% Skelly Oil 315* 31% 31% ... Std Oil Cal 60% 60% 605* ... Std Oil N J 65% 64’, 65 65% Std Oil NY... 335# 32_ 32% 32% Tidewater 13 12% 12% 13 Texas Corp .... 55% 555, 55% 55;* Texas C & O .• • *O% Transcont! 9% 9 9 9% White Eagle 275# Industrials — „ , Adv Rumley ... 1654 145# 14% 13% Allis Chalmers.. 51% 5 ... 50-'# Allied Chemical. 263 263 263 263', A M Byers 93% 91% 93% 92 Armour A 5% 5 s # 5% 5% Amer Can 123*4 122 123 122 AUeghaney Corp 25% 24% 255* ... Am Safety Raz j>9% Am Ice 37_ 37 37 36% Am Wool 10*,# 10% 10% il*s Assd Dry Goods 31 30’# 30*# 30 Ben Alum ... • • • 51% Coca Cola 138 138 138 138 Conti Can 53 52% 53 53 Crosley ]§ Congoieum 13*4 13*, 13% 13;# Curtiss W 7*, 7*, 7'* 75* Davidson Chem. 30*# 30'# 30*, 305* Dupont 115 113% 113*4 1145* Famous Players. 51 51 5! 51 Gen Asphalt ... 50% 50% 505* 50% Fox A 20% IS% 20V* 20*# Gold Dust 43% 42% 43 42% Glidden 33 33 33 33% Int Harvester .. 81*, 81% 81% 80'# Kelvinator 7’# 7% 7% 8 Lambert •• •••_, ?9 Loews 47% 46% 46 "# 48*# May Stores 51*4 51% 51*4 ... Roister 4 4 4 454 Montgoin Ward. 45*4 44% 44’, 46 Natl C R 75% 75% 75% 75% Radio Keith ... 22% 215, 22% 31% Radio Corp .... 415# 41% 41 s , 41% Rem Rand 28*4 38% 28% 28*4 Pears Roebuck.. 86% 85% 86*, 86*4 Union Carbide .. 80 79', 79% 79*, Warner Bros .. 44*4 43* 43% 43% Un Air Craft.. 50 s , 49'# 50 49'4 USCs Ir Pipe.. 22 21*, 21*4 21*, U S Indus Aico. .132% 130% 132%- 130% Woolworth Cos.. 67 66’# 86% 6754 Utilities— Am Tel A: Tel. .230 213'# 220 219*, Am Pr Ac Lt 8.7 80*, 80’, 81*# Eng Pub Serv.. 3*% 33% 34%• 41 Am Ft Power.. 95*, 94 5 , 95% 94*, Am Wat Wk*.. 95 93% 95 93% : Gen Pub Serv.. 34% 33% 34% 34 Col G A- E 77% 76'# 77% 76% ! Consol Gas 107% 101% 102*# 101% EVc Pow Ac Lt.. 53*# 52’. 53% 52 : Int T A: T 74 72% 74 73% | Nor Am Cos 96’, 06 96 96% ! Pac Light 77% 77% 77% 77% Pub Serv N J 85% 84*, 85 85% So Cal Edison.. 57% .7'# 57% 57% Std Gas At E1..115% 114% 115 114 United Corp 32% 32% 34% 32% Utilities Power.. 32 31% 31% 32% United G A: Imp 34% 33% 34% 34 West Union Tel 209 % 206 209% 204 Shipping— Am Inti Corp.... 38 375# 38 33 Inti Mcr M pfd .. ... .. 30% United Fruit ..105 103*, 104% 103** Food,— Am Bug Rfg 63 625# Canada Drv 67 64% 67 I Cont Bak A... 44 43 43 44 ■ Border 64 63% 63% 63% ! Cuban Am Sue.. 7*# 7% 7% 7% 1 Grand Union pfd 385* Jett-el Tea .. ... ... *7 - Kraft Cheese 39% 39% 39% 39% Kroger 43% 42*# 43% 44 Loose-Wiles . . . . 54 Natl Biscuit 182% 182*# 182’# 183% Nat! Dairy 47% 46 47 46% Purity Bak 79 79 79 79*# Loft ‘ 3% 3% 3*# 4 Stand Brands... 27'* 27', 27’# 27% Ward Baking 8.. . 4% Tobaccos—--4m Sumtra 29% 20 20 20% Am Tob B .201% 201% 20!% ... Genera! Cigar... 52 s , 52 52 Llg A: Meyers... .. .. 945# Lortllard 17% 17% 17% 17 R .1 Reynolds... 49’, 49*# 49% 19%' Tob Products B. I*, 2’# 2*# ... United Clear St.. 4% 4'# 4%- 4*, Schulte Ret strs. s*, 5% 5% 5-'#

Other Livestock Bu f nilf'l Fmt EAST BUFFALO. N. Y.. Jan. 13.—Hogs —Receipts. 9.000. holdovers, 300: slow, 25-.:50c lower; weight butchers at maximum decline, bulk 120-200 lbs.. $lO.lO-* 10.15: few. $10.25; 230-250 lbs.. $3 75*5.10; packing sows. $8.25i|8 75. Cattle—Receipts. 1.150: 25*u 50c higher, all grades sharing upturn: good steers and yearlings. $13.85'-' 14.50; medium and short feds. $11.75**13 35 common steers and heifers. S3 75 11.50; all cutter COWS. $4-25*16.50. calves, receipts. 1.000: vealers. 50c and higher. $lB down Sheep—Receipts. 9.000: lambs. 25c higher: good to choice. sl4.2siS' 14.7 V few $14.90; medium and strong weights. sl2 75** 13.75: yearling wethers. sl2 12 50: fat ewes. $6<x.7.25. NEW YORK COFFEE RANGE —Jan. 11High. Low. Close. January 8.50 8.50 8.50 March 8.50 8 35 8.45 May . 3.05 7.95 8.02 5:5? ?: 5:8

HOGS CHALK UP SMALL GAIN AT WEEK'SOPENING Cattle Steady; Veals Show Some Weakness at sl7 Down. Jan. Bulk. Top. Receipts 6. SIO.OO $ 9.90 8.500 7. 9 90 10.00 7,500 8. 10.10 10.10 4,500 9. 10.10 10.20 6,000 10. 10.00 10.25 6,500 11. 9.75 10.00 7,500 13. 9.85 0 10.10 10.00 3.000 Hog prices were largely 10 cents higher today than Saturday's average, at the local stockyards. The bulk, 140 to 275 pounds, sold at $9.85 to $lO.lO. A few good and choice grade of butchers were mostly steady to higher. Receipts were estimated at 3,000: holdovers 483. Cattle slow, with indications pointing to a steady market. Vealers were generally 50 cents lower, selling at sl7 down. Sheep and lambs mostly 25 to 50 cents lower, with a good and choice grade of lambs selling at sl4; all lower grades sold at $13.50 down. Chicago hog receipts 80,000, including 35,000 directs; holdovers, 3,000. The market slow, with very few* early sales, bidding 10 cents lower than Saturday’s best prices, choice of 180 to 210 pound weights sold at $9.50; choice of 230 to 250 pounders were selling at $9.25 to $9.30. Cattle receipts 23,000; sheep, 25 ; 000. —Hogs— Receipts. 3,000; market, higher. 250-350 lbs. and up $ 9.25@ 9.40 235- 3 lbs 9.70® 9.85 200-- ‘> lbs 10.00 160-200 lbs 10.10 130-160 lbs 9.75® 10.10 90-130 lbs 8.75® 9.50 Packing sows 7.75® 8.50 —Cattle— Receipts, 600; market, steady. Beef steers, 1.100-1,500 lbs. good and choice $12.25® 15.50 Common and medium 9.50® 12.20 Beef steers, 1,100 lbs. down. good ana choice 12.50015.i5 Common and medium 9.50012.50 Heifers, 350 lbs. down, good . and choice 12.50315.00 Common and medium B.oo® 12.50 Cows 8.50®, 10.00 Common and medium 6,500 8.50 Lower cutter and cutters.... 4.75®, 6.50 Stocker and feeder steers, good and choice 8.50®11.00 Common and medium 6.50® 8.50 —Veals— Receipts, 300; market, lower. Medium and chioce [email protected] Cull and common i.so® 13.00 —Sheep— Receipts. 1,000; market, lower. Lambs, good and choice Common and medium 10.00®: 13.00 Ewes, medium to choice 4.J00 S cX Cull and common 2.ao<ff 4.50 Other Livestock Bu United Press CHICAGO. Jan. 13. Hogs Receipts 80.000 including 35,000 directs; market steady to 10c lower; mostly steady wth i weights, $9.50®9.60; 220-280 lb. weights, I 59.25® 9.50; packing sows. $8.2.008.75; Butchers, medium to choice, 250-350 _lb. weights. s9® 9.50; 200-250 lbs. 39.25®. 9.65; 160-200 ibs.. $9.40® 9.75; 130-160 lbs.. pig.';, medium to choice, 90-130 lbs., $9 @9.65. Cattle—Receipts. 23.000. Calves Receipts. $3,000; largely a steer run; killing duality plain: yearlings and finished steers' about steady; weighty kind 25c lower, spots more; best yearlings. sl6; other killing classes unevenly lower. Slaughter classes, steers, good and choice, 1300-1500 lbs, sl2® 16: 1100-1300 lbs., $12.25® 16.50: 950-1100 lbs.. 512.75® 16.75' common and medium, 850 lbs. up. $8.75 <?>: 13.25; fed yearlings, good and choice, 750-950 lbs.. $13.25® 16.75; heifers, good and choice, 850 ibs. down. .$12.75® 15.75; common and medium. [email protected]; coivs, good and choice, $8.25® 11: common and medium, $6.50® 8.50; low cutter and cutter. $5®6.75; bulls, good and choice beef, $9.25® 9.85: cutter to medium. [email protected]: vealers. milk fed. good and choice. sl3® 16; medium. $11313; cull and common, $7,250.11; Stocker and feeder steers, good and common, al! weights, $10.50® 11.25; common and medium. $80,10.25. Sheep—Receipts, 25,000; market slow; scattered sales fat lambs around 50c lower at $13,500.13.75; best held above sl4: fat ewes bid unevenly lower; feeding lambs held steady to strong. Lambs, good and choice. 92 lbs. down, $13.25® 14.25; medium, $12013.25: cull and common, $10.50012; ewes, medium to choice, 150 lbs. down, $5.5007.50; cull and common, s3® 5.75; feeder lambs, good and choice, $11.65® 13.10. B.u Times Boeeiat LOUISVILLE. Kv.. Jan. 13.—Hogs. Receipts. 1.300: market steady: 175 lbs. up. 5.9.80: 130-175 ibs.. $9.10: 130 lbs. down. $7.75: roughs. $7.85: stags, $7.25. Cattle —Receipts. 900: market steady; prime heavy steers. $11.50® 13; heavy shipping steers. SIOO 11.50: medium and plain steers. s6.Bo®' 10; fat heifers. sß® 13; good to choice cows. 709: medium to good cows, $607: cutters. $5.50®6; canners. $4 @5; hulls, s6®9; feeders. [email protected]: Stockers. $7.50010 50. Calves—Receipts. 500; market steady: tops ,sls; good tx> choice, $12015: medium to good. $9011; outs, $9 down. Sheep—Receipts, 50: market steady; ewes end wethers. $12.50® 13; buck lambs, $11.50@T2: seconds, $609; sheep. $506. Saturday's and Sunday’s shipments: Cattle, 25; calves, 213; hogs, none; sheep, none. Bu United Press FT. WAYNE. Ind.. Jan. 13. Calves Receipts. 50; hogs, receipts, 300: sheep, receipts. 50; cattle, receipts, 75; hogs, market steady to 15c off; 120 lbs. down, $9; 120-140 lbs.. $9.25: 140-160 lbs.. $9.50: 160200 lbs.. $9.60: 200-225 lbs., $9.45: 225-250 lbs.. $9.30: 250-300 Ibs.. 59.20; 300-350 lbs.. $9: roughs, $7.75; stags, $6; calves. $16.50; lambs, sl3. Bu United Press PITTSBURGH. Jan. 13.—Hogs—Receipts. 5.200; market, 25 to 30c lower; 150-220 lbs, SIOO 10.10: 220-250 lbs, $9.850 9.90: heavier hogs. $9.50® 9.75; light weight pigs. $9,750.10: sows, mostly $808.35: few at $8.50. Cattle—Receipts. 650: steady to strong: steers and yearlings. $11013.25; fat cow s. s7® 9.50: heifers. sß® 12: most bulls, $8 n 9.50. Calves—Receipts. 600: market, steady: top vealers. $lB. Sheen —Receipts, 5.000: market, weak to 25c lower; lambs, showing decline; bulk. sl3® 14.25: sorts, moderate to heavy; choice, aged wethers, SB. Bu United Press CINCINNATI. Jan. 13—Hogs—Receipts. 2.350; holdover. 600; uneven, local demand narrow; good shipping outlet; butchers. 170 lbs. up. steady: light weights. 25c higher; sales. 130-230 lbs, slo® 10.10: i later prices for 170-220 averages, few 240300 lbs.: butchers. S9O 9.50; pigs under . 120 lbs, 59.75 down; sows, mostly S8: ' smooth finished kind. $8.25. Cattle—Re- : ceipts, 1.200; calves. 200: yearlings, steers : about steady, others fully steady with last i week's advance, good around 1.000 lbs. ; yearslings steers. $13.75: medium to good, i 600-800 lbs. heifers and 900-1.000-lb. steers. $l2O 13; odd-head higher; beef cows. $7.50 '0 9.50: low cutter and cutter. $5.500 7: ; bulls up to $9.50: veals. $1 lower than Friday: ton. sl7: bulk above sl4. Sheep— Receipts. 250: barely steady: best lambs around sl4: choice grades lacking throwouts and bucks. $10011,50; good light ewes, $5.50 down. Rv United Press CLEVELAND. Jan. 13.—Hogs—Receipts. 6.500; holdovers. 324: 25®40c lower; 150250 lbs, $9.25: lighter weights. $9.75; sows $7.7508; stags. $6. Cattle—Receipts 1,100: steady to 2oc lower: steers upward to sl2 6 12.25 or better, showing aecline while most other kinds steady; bulk steers slo® 11.75. plainer kinds downward to $9.50 or under, common to good cows. $6.500 8.25 mostly.

Thomson & McKinnon INDIANAPOLIS CHICAGO NEW YORK MEMBERS New York Stock Exchang* Chicago Stock Exchange New York Cotton Exchange Chicago Board of Trade Kew Y'ork Cnrb Association 300 Fletcher American Bank Bldg. Telephone Lincoln 5501

THE INDIANAPOLIS TIMES

The City in Brief

Dr. G. W. Butler, federal meat Inspector, has returned to Indainapolis from an operation at Mayo Brothers, Rochester, Minn. Dr. Butler is recuperating rapidly and is expected to be at work next week. Dr. Frederick W. Norwood, pastor of the historic City Temple of London, will speak in the First Baptist church Jan 31 under the auspices of the Church Federation of Indianapolis. Dr. Benjamin Cohen was installed as rabbi of the Congregation of Knesses Israel Sunday. Rabbis from all Indianapolis congregations aided in the ceremonies. Rabbi Cohen came to this city from Louisville. A group of Chicago dentists will give demonstrations at the annual clinic of the Indiana Dental Society Jan. 20 at the. Lincoln. Dr. Burton Myers of Indiana university dental school will speak at a banquet in the evening. Problems of government will be discussed by Max J. Young, a candidate for the Republican congressional nomination from this district, at the meeting of the Irvington Republican Club tonight. Robert Haugham, superintendent of Johnson county schools, was elected chairman of the Indiana State Teachers’ Association executive committee Saturday at the Lincoln. Another meeting will be held Feb. 15. South Side Civic Club central committee will elect officers Wednesday night at a meeting at the Fountain Square Theater building. The number of representatives from each club is to be increased from two to three. Chairman J. H. Burke said. William Tyndall, Wayne Carson and Robert Blount were initiated into the Nu Sigma Nu medical fraternity of Indiana university medical school Saturday at the Lincoln. Dr. Charles P. Emerson, dean, spoke Omar S. Hunt, president of the Marshall & Haschart Machinery Company of Indiana, will address the Rotary Club at the Claypool Tuesday noon on “Master Tools of Industry.” J. C. Olive was chosen present of the Indianapolis alumni chapter of the Kappa Sigma fraternity at the annual Founders’ day meeting at the Lincoln Saturday night. Harry L. Yelch was elected secretary and James F. T. Sargent, treasurer. Dr. Max Balir, superintendent of the Indiana Central Hospital for the Insane, will be the principal speaker at a banquet of the Indiana Commercial Secretaries’ Association Friday night at the Board of Trade. George W. Tapy, professor of psychology at Wabash college, will be principal speaker at the Xiwanis Club luncheon at the Claypool Wednesday. Theft of clothing and a radio, total value of which was $277, was reported to police today by Mrs. Melissa Eberhardt, 934 Chadwick street. Dr. Herman C. Morgan, city health commissioner, will speak on duties of his department, and the current epidemic of spinal meningitis, at a meeting of the Sherman Emerson Civic League, at school No. 62, Wallace and Tenth streets, at 8 p. m. Tuesday. The league will hold its annual spelling bee.

SPAIN TAKES STEPS TO BOLSTER MONEY Cabinet Heads Halt Grain Imports; Fear for Domestic Business. Bu United Press MADRID, Jan, 13.—Fear was expressed in semi-official circles today that the slump of the peseta on the exchange market materially may affect domestic industries. A decision to suspend imports of grain as a step to stabilize the peseta was made at a conference Premier Primo de Rivera held with Finance Minister Carlos Calvo Sotela and Governor Carlos Vergara of the Bank of Spain. Speculation is being discouraged. The peseta already has fallen to less than 12 cents. It normally is worth 20 cents. Chicago Grain Table —Jfln. 13WHEAT— Pr(*v. High. Low. 12:00. close. Mar 1.26 1.24*1 1.25 1.26% May 1.29% 1.28% 1.23 1.30% July 1.30% 1.20% 1.30 1.31% CORN— Mar 92% .92% .92% .92% Mav 95% .95 ,95V* .95% July 97% .96% .97 .97% OATS— Mar 47% .47% .47*# .48 Mav 48’# .48% .48% .49 July 47*4 .47% .47*# .48 RYE— Mar 1.02% 1.02 1.02 1.03 Mav 99% .99 .99% 1.00% July .97% .96% .96% .97',# LARD— Mar 10.40 10.40 1 0.40 10.40 May 10.60 10.60 10.60 10.60 Marriage Licenses George T. Stephens, 53. of 726 Lexington. candy maker, and Olara B. Bailey, 66. of 726 Lexington, candy maker. John A. Bright. 24. of 2153 North Illinois. clerk, and Hazel A. Harrison, 17, of 1222 Eugene, clerk. Frank Walton. 22. of 1135 Garfield place, porter, and Rosemary Williams, 19. of 1222 Cornell. Clifford J. Buennage. 24. of Muncie. electrician, and Wilmoth Flowers, 24, of 1644 Spann, typist. James E. Boltz. 20, of 78 North Holmes, clerk, and Frances F. Vawter, 20, of Glenn's Valley. Explosion Kills Miner Bn United Press CLINTON, Ind., Jan. 13.—A premature explosion of a coal blasting charge claimed the life of Earl Taylor, 31, Terre Haute, in a mine near here.

WHEAT FUTURES BREAK SHARPLY ON CABLE NEWS Liverpool Fails to Follow Advance: Corn Looks Oversold. Bu United Press CHICAGO, Jan. 13.—Wheat prices broke sharply as the Board of Trade opened here this morning. Weak foreign cables, Liverpool was* % to Vs cent lower and Buenos Aires was down ’4 < cent after opening higher, was the chief depressing factor. Buying support was lacking, there being no encouraging news. Corn and oats were carried fractionally lower with wheat. At the opening wheat was % to 1% cent lower, corn was down 14 cent, and oats was 1 k to % cent off. Provisions opened steady. Liverpool failed to follow that advance here last Saturday and was lower this morning. The course of wheat prices within the next few weeks will be based on the foreign demand and the extent which that will be filled by Argentina and Australia against the large surplus remaining in the United States. The Argentine crop is due in Europe in about five weeks, still ungraded, but the yield is still uncertain. The volume of exports will be watched as being indicative of this. An impression prevails that corn has been oversold and the bears are uneasy over the way the light receipts are gobbled Up as fast as they appear. Larger receipts are expected from nearby, but the majority of farmers show no disposition to sell at these prices. Oats has had more activity of late and the buying has had a better character. The strength of the other grains remains the dominant influence, however. By Times Bvecial CHICAGO. Jan. 13.—Caiiots: Wheat, 9; corn. 98; oats. 22' rve. 2; barley. 3.

Local Wagon Wheat j

City grain elevators are paying $1.15 for No. 3 red wheat and $1.12 for No. 2 hard wheat.

$150,000,000 American Telephone and Telegraph Company THIRTY-FIVE YEAR 5% GOLD DEBENTURES Dated February 1, 1950 Due February 1, 1965 Issued under Indenture dated February l, 1930, The First National Bank of flic City of New )ork, 1 tastes Interest payable February I and August 1 in . Yeu■ l'ork City Redeemable, at the option of the Company, as a whole but not in part, upon 60 days’ notice, on any interest date, at the following prices and accrued interest: on or prior to August 1,1961, at 110%; thereafter, at 100%. Coupon Debentures in denominations of SI,OOO, SSOO and SIOO, reyisterahle as to principal. Registered Debentures in denominations of SI,OOO, $5,000 and SIO,OOO. Coupon Debentures and registered Debentures, and the several denominations, interchangeable. Walter S. Gifford, Esq., President of the American Telephone and Telegraph Company, has furnished us with the following statement regarding this issue: purpose This issue of Debentures will provide funds required by the Bell System for at OF issue betterments and for other capital expenditures. ASSETS AND The assets of the American Telephone and Telegraph Company on September 30 equity deducting current liabilities, were carried on its txtoks at more than $2,378,000,000. t (at cost) in its associated and affiliated companies amounted to $3,015,000,000 and in i plant and equipment to $324,000,000. All the property of the Company is free from lien, except ce> and bonds pledged to secure approximately $80,000,000 Collateral Trust Bonds. After giving effect l of these Debentures, the Company’s long term debt will be less than $670,000,000, whereas ca, (including paid-up portions of stock payable in installments) will be in excess of $1,400,000,000 par vc funded debt will comprise less than one-third of the Company’s total capital liabilities. EARNINGS The net earnings of the American Telephone and Telegraph Company available for It interest charges and its net income during the live years ended December 31, 1928 were t . Net Barnings Number of Tim Years Ended ® Available interest Interest December 3i for Interest Charges Net Income Was Earned 1924 $107,619,362 $16*73,041 $ 91,046,321 6.4 1925 129,036,334 21,631,288 107,405,046 5.9 1926 138.931A87 21,940,986 116,990,401 6.3 1927 * 150,383,895 21,768,985 128,614,910 6.9 1928 165,268,049 22,097,558 143,170,491 7.4 * Doej w*t mrlndt .rpecial non-recurring dividend of $47,935,56S etc me A from Western Electric Company, Ins. During this five-year period, net earnings available for interest averaged more than fi>/ 2 times interest c It is estimated that for the year 1929 net earnings available for interest were in excess of $193,000,000, or mot 7 times the estimated interest charges during that year. dividend Dividends on the capital stock of the Company and of its predecessor have been paid t RECORD rate of at least $7.50 per share in each of the past 48 years. Since 1921 the annual rate has $9 per shc.re. provisions In the Indenture under which these Debentures are to be issued, the Company Is to cove OF INDENTURE that it will not mortgage any of its telephone lines or plant unless it shall secure these Debem by stocks or bonds of its telephone operating companies, and that it will not pledge (with cet exceptions and limitations to be set forth in said Indenture ) any stocks or bonds of its telephone operating c panics unless it shall either secure these Debentures by pledge of securities as above stated, or secure them rati with any other obligations secured by such pledge, In either case, the Company shall keep so pledged stockbonds of a value which shall be equal at all times to of the principal of the debt secured thereby. Any *i collateral so to be pledged shall be similar in character to that required for the security of the Company’s 30- Y 5% Collateral Trust Gold Bonds due 1946. The provisions for valuation and substitution of stocks and bonds pledged shall be similar to the corresponding provisions in respect of the collateral securing the above-mention 5 % Bonds due 1946. THE ABOVE DEBENTURES ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO THE CONDITIONS STATED BELOW, AT 99W%, LESS AN AMOUNT EQUAL TO INTEREST AT THE RATE OF 5% ON FACE AMOUNT FROM DATE OF PAYMENT TO FEBRUARY 1, 1950. Subscription books will be opened at the office of J. P. Morgan Cos. at 10 o’clock A. M., Monday, January IS, 1950, and will be closed in their discretion. The right is reserved to reject any and all applications, and also, in any case, to award a smaller amount than applied / or, All subscriptions will be received, subject to the due issue of the Debentures as planned, and to approval by counsel of the form and validity of the related documents and proceedings. The amounts due on allotments will be payable at the office of J. P. Morgan Cos., in New York funds to their order, and the date of payment (on or about January 28, 1950) will be stated in the notices of allotment.. Temporary Debentures, exchangeable for definitive Debentures when received, are to be delivered. J. P. MORGAN & CO. KUHN, 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 AND SAVINGS BANK LEE, HIGGINSON & CO. New York, January IS, 1950.

Business and Finance

Bu l nited Press * CHARLESTON. W. Va.. Jan 13. The Dupont Ammonia Corporation of Belle. West Va., has awarded the Wilputte Coke Oven Corporation of New York, a contract for the construction of forty-eight coke ovens, costing $2,000,000. The pro- . ject is to be completed by Sept. 1. CHICAGO, Jan. 13.—Erwin R. Brigham vai late Saturday named president of the North American Car Corporation to succeed his father, Hrnrv ! H. Brigham, who died in New York Saturday General Robert E. Wood, president of Sears. Roebuck & Cos., was elected to the board of directors to fill the position, formerly held bx Henry H. Brigham. Net income of United States and Foreign Securities Corporation, an investment company sponsored by Dillon. Read and Company, established anew high record of $11,710,089 in 1929. compared with net income of $7,652,887 in the preceding year. The corporation's annual report, made public today by President Ernest B. Tracy, also shows an addition of $9,910,336 to surplus, bringing the tola! to anew high record of $22,134,702 arri an appreciation in the value rs se—holdings over aggregate cost amounting to $8,342,682. Robert H. Treman, President of the Tompkins County National Rank. Ithaca. X. Y.. and formerly Governor of the Federal Reserve bank of New York, has been elected a director of General Empire Corporation, an investment trust affiliated with Hemphill. Noyes & Cos., and including in its investments stocks of fifty-seven banks and trust companies located outside of New York City of which thirty-three are located In other cities in New York State. Borland Shoe Stores. Inc., for December, 1929. reports gross sales of $415,721 against $294,928 in December, 1328. an increase of 41 per cent. For the full year 1929 gross sales were $3,964,637 against $2,587.596. an increase of 53.2 per cent. National Family Stores, Inc., report sales lor December. 1929, totaling $1,018,411 against $116,111, an increase of 120 per cent. Sales for the eleven months just ended totaled $6,605,783 compared with $3,208,234 a year ago, an increase of 105.9 per cent. Figures for 1928 Include the Hoyle and Rarick stores, but exclude the W. T. and E. J. Farley Stores sales. Total sales of National Family stores for December, 1929. increased 120 per cent over the same month in 1928. according to announcement lßte Saturday, while sales for the eleven month sending Dec. 31. 1929, showed an increase of nearly 106 per cent over the same period a year ago. Figures for the month of December, Just closed were $1,048,471. while for the same month in 1928 they were $476,474. Additional financing in the amount of $30,000,000 is being planned bj’ the Associated Gas and Electric Company, in connect.ton with ihe retirements of indebted-

ness of the Company and Us subsidiaries and for the acquisition of additional properties. It Is understood that tins financing will take the form of an issue of convertible 5 per cent gold debenture/, due 1950 The new debentures are also to be used in part for the retirement of preferred stocks of subsidiary companies, ranking on an equality with or senior to the new issue of debentures. During the twelve months of 1929. the Perfect Circle Company produced in their two manufacturing plants in Hagerstown and Tipton, Ind., 40.239.728 piston rings, anew all-time record. Over 90 per cent of these rings were cast In the Perfect Circle foundry at Newcastle. Ind. This total represents enough rings to equip i.682.648 cars with complete sets of Perfect Circle piston rings. CITY BOX FIRM IN BiC MERGER Inland Company and Ohio Concern Consolidate. Consolidation of the Inland Box Corporation of Indianapolis with the Gardner Harvey Container Company of Middletown, 0.. is announced by H. C. Krannert, head of the consolidation.

The new firm, to be known as the Inland Container Corporation, with a capitalization of $2,500,000, will have headquarters in Indianapolis. The Inland corporation is engaged in the manufacture of corrugated fiber board shipping containers. General offices are at 700 West Morris street. Through merger with the Gardner Harvey Container Company, also engaged in the manufacture of paper containers, the corporation has doubled its production capacity, it is said, and has acquired a complete new plant, serving Ohio territory. Krannert is teeasurer and president of the new combine and E. T. Gardner, president of the Middletown industry, has become vicepresident. George E. Bomberger is production manager of the new corporation, C. A. Behringer is secretary and sales manager, M. S. Johnson of Middletown, assistant treasurer, and Philip G. Decker ol Anderson and Colin Gardner of Middletown directors.

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STOCK TRADING FOR PAST WEEK HITS LOW FIGURE Saturday’s Session Lightest in Year: News Is Optimistic. Bu United Press NEW YORK. Jan. 13.—Trading last week fell off to the lightest proportions In more than a year on the New York Stock Exchange and prices barely changed from the close cf last week. Saturday’s session was the lightest in more than a year. During 1929 not a single session, even Saturdays, fell below the million share mark.

Narrowness of price movement in the final analysis was a result of recovery after dips. The trend was indefinite, but there was no concerted pressure exerted by the bears. Traders were cautious, however, and did not extend buying commitments. United States Steel, General Electric, Westinghouse Electric and other industrial leaders were hammered down at times and then rallied. On Saturday, however, weekend profit-taking and fears of development- led many to sell and prices turned lower. Utilities had periods of strength as did food shares and some of the amusements. Radio-Keith-Orpheum was a market leader early In the week on expectation it would take over the Loews holdings of Fox. Fox Film A had another sinking spell late in the week and closed lower. Business news this week was more optimistic than in some time. Steel operations were stepped up; United States Steel Corporation's unfilled tonnage was up 91.000 tons for Dec. 31 as compared with Nov. 30; automobile production was better; retail trede showed improvement. In addition brokerage loans declined $72,000,000. Motor shares were depressed after their demonstration of last week. This selling, however, was not due to any failure of the auto show.