Indianapolis Times, Volume 41, Number 289, Indianapolis, Marion County, 14 April 1930 — Page 11

APRIL 14, 1930

LIST FOLLOWS STEEL SHARES IN NOON RALLY Market Sells Lower After Irregular Opening: Rises Later.

Average Stock Prices

Aver**? of thirty Industrial* for Saturday was 233 43, up 78. Average of twenty rails was 134.04, off .23. Average of twenty utilities was 108.*2. up .21 Average of forty bonds was 85 23, up 03. Hv I nitrti pres* NEW YORK, April 14.—Wide swings in United States Steel were followed by the remainder of the stock market today. The list opened irregular in a narrow range, the majority higher, and then sold off sharply on a wide break in Steel common. Around noon Steel was coming back slowly, steadying the entire list. Trading fell off on the reaction and tickers were able to keep abreast of the market easily after the orders which accumulated over •he week-end had been executed. International Telephone and Telegraph was again the feature of the day, rising to anew high for the year at 77%, up 2% from the previous close. American Telephone and Telegraph came near its high for the year at 273 V5, up 3 3 i points. Farm implement shares also were strong with Case up 8 at 304 and International Harvester up 3% at 114 1 1 . Tobacco shares met better buying as the day wore on. Steel Opens Up United States Steel opened at 194. up 7 m. and then broke to 192%, from which it rallied later. Bethlehem Steel also broke, as did Vanadium. both rallying as mid-day approached. The weak spot of the day was United States Industrial Alcohol which broke 4 points to anew low for the year at 98. Small declines ranging to a point were made by Montgomery Ward, Packard. Gold Dust, Genera] Electric, Radio. Ra-dio-Keith-Orpheum, International Nickel. Kennecott Copper, Consolidated Gas. Standard Gas and Columbia Gas. American Tobacco was an outstanding feature in the early afternoon. The stock rose to a record high at 244%. up 5% points. Hie B stock rose to a record high at 246 1 2 , up 6% points. Lorillard rose lto 26 t k and Reynolds B l l * to 55%. Buying In the group was based on expectations of an early increase in the wholesale price of cigarets. Industrials Strong Westinghouse Electric was strong in its croup wh’le American and Foreign Power and United Corporation were higher in the utilities and Anaconda firmed up fractionally In the coppers. General Motors featured an iriegular motor list and Missouri-Kansas-Texas the railroad group. In the early afternoon Steel common moved up to 194 3 i, where it was up t% from the previous close and ?% points from its early low'. Other shares in the industrial group followed and the whole market allowed an improved tone. News of the day was not of the kind to make much difference either way in the market. Call money held at 4 per cent unchanged from the close last week. Bulls were heartened by reports of a firming tendency in commodity prices and expectations of a pickup shortly in steel production, while bears hammered away at stocks vulnerable because their companies were expected to report smaller earnings this year.

Banks and Exchange

JNTUANArOMS STATEMENT Indianapolis bank clearings Monday. AdHI 14. $3,535,000; debits. $6,951,000 CHICAGO STATEMENT Bn T’nitrd Pre .,* CHICAGO. April 14.—Bank deem**. 103.900.000; balnaces *6.300.000. NEW YORK STATEMENT H 7 T’nited Pros NEW YORK. April 14. —Bank clearings. 1577.000,000 clearing bouse balance. *134.000.000; federal reserve bank credit balance. $134,000,000. TREASURY STATEMENT Bv United Press WASHINGTON. April 14.—Treasury net balance on April 11. was $284,083,235.32: Customs, receipts for the month to that date totaled $15,273,178.87: government expenditures on April 11. were $10,267,575.31.

Local Wagon Wheat

Citv sraln elevators arc pavlna *1.03 for Ko. 3 red wheat and 97c for Nc 3 hard wheat. OIL DEAL IS CONFIRMED Standard of Indiana Seeks to Buy $20,000,000 Tulsa Firm. Bv I'nitrd Prftt TULSA. Okla., April 14.—E. B. MeFarlin, a vice-president of the McMan Oil Company of Tulsa, confirmed reports today that negotiations are under way for the acquisition of the McMan interests by the Standard Oil Company of Indiana. The amount involved was said to be about $20,000,000 and will rank as one of the largest midcontinent deals. Heart Disease Fatal Timet Special BAINBRIDGE, Ind.. April 14. John McClanahan. 50. is dead of heart disease at the home of his sister, Mrs. Thomas Ball.

Groan —Crash Efforts of Mrs. Elizabeth Ennis of 1415 West Twentyeighth street to get her husband, Webster Ennis, home Saturday night failed. With her husband in the back seat of her car. Mrs. Ennis started to drive home. He groaned. She turned to look at him, and struck an automobile o\ led by Mrs. Claude Eaton. 225 North East street, parked in front of the Eaton home. Police arrested the husband on a charge of intoxication.

New York Stocks ißv rhomuoo dr McKinnon i

—April 14— Railroad*— High. Low. 12:00. Atchison 236‘i 236 236 Bait ft Ohio 119 H 119 119 H Chesa & Ohio 228 229 229 Eric Ist pfd 64 % N Y Central 184% NY NH Ac 132 Pennsylvania ,5 2 “ Seab’d Air L ... }o'* Southern Ry ....125% 125 *25 Southern Pac ... 129% St Paui pfd. 40*• 4040% St L ft 5 F 116% 116% 116% West Maryland 33% S3 33% Rubbers— Fisk .5 Goodrich 52% 52 52 United States 34% 34 34 Equipment*— Am Car tc Fdy 66% 66 66 Am Locomotive 80 79% 79% General Elec 92% 91% 91% Gen Am Tank 110 s * 109 1 09% Pulman 82% 82 82% Westing)! Air B 47% 47 47 Westlngh Elec 189% 189 189% Steel*— Bethlehem 106% 106 106 Crucible 88% 88V. 88% Inland Steel ... 83 Rep Iron and Steel .. 78% U H Steel 194 Warren Pike 34% 33% 34% Vanadium Corn 113% 113% 113% Motors— Chrysler Corp 41% 41 41% Graham Paige 11% 11 11% General Motors 53% 52** 53 Hudson 55 54% 54’ s Hupp 26% 26 26% Auburn 257 255 257 Mack Trucks 83% 83 83% Reo 13% 13% 13*. Gardner Nash 53% 53 53% Packard 21% 20% 20V* Peerless .. 9% Studebaker Cor ... 41% Wlllys-Overland 9% 9% 9% Yellow Coach 27% 27 27 Mining— Anaconda Cop ......... 71% 70% 70% Inspiration Cop 27% 26% 26% Int Nickel 41% 41% 41% Kennecott Cop 53-* 52% 52% Miami Copper 29% 29% 29 v* Oil*— fttiantic Rfg 49% 49% 49% Barnsdal! *A> 31% 31% 31% Freport-Texa* 52”. 52% 52% r.idp Oil 30 29% 30 Mld-Cont Petrol ... 31% I ago Oil ft Tr ... 25 Union o£ Cal .. 32% Pure Oil 25% 25'/i 25% Shell 21 Vi 21 21% Sinclair Oil 31 30% 30% Skellv Oil 41 % 4040 Std Oil Cal 71% 71% 71% Std Oil N J 79 78% 79 Std Oil N Y 37% Texas Cnrp 68% Transcontl 19% 19% 19% Utilities — Am Tel <te Tel 274% 272% 273 Am Pr & U 116 Arn For Power 97% 95% 97*4 Am Water Workers 123% 122% 122% Col O * B 85% 85% 85% Elec Power ft Lt 93% 92% 93% In T ft T 76% 75% 75% Nor Aatr Cos 130 129% 129% Pub Serv Corp 119 118 118 Pub Serv N J 119 So Cal Edison 70% 70% 70% Std Gas ft El 121% 120% 121% United Corp 38% 37 38% West Union Tel 192 190 190 Foods— Beechnut Pkg ... 66% California Pkg ... 72% Canada Drv 70 68% 68% Com Products 105% 104 105% Grand Union ... 17% Kroger ' 40% 39% 39% Natl Biscuit ' 38 37% 37% Natl Dalrv 56% 56% 66% Ward Baking 13% 13 13% Tobaccos— Am Sumatra 17 16% 16% Am Tob B 212% 212 212% Con Cigars 32 29% 32 General Cigar 51 % I.orlllard 26% 25% 26V* R J Reynolds ... 54 Tob Products A 4% 4% 4% United Cigar St ... 7%

WALES IS THINNER British Heir Loses Weight on Hunting Trip. Hu United PrasK KHARTOUM. Africa, April 14. A sun-browned but somewhat thinner prince of Wales, looking rather tired, but still fit, arrived here by airplane Sunday afternoon after a rough and bumpy ride from Malakal. He is on his way home from his hunting trip. His first request, as he descended in his now-famous shorts, jacket and gray woolen stockings—and with tinted, horn-rimmed spectacles protecting his eyes from the glare —was for a cigaret.

In the Stock Market

(By Thomson & McKinnon! NEW YORK, April 14.—Except for the increasing number of opinions from both foreign and domestic writers concerning the possibility of a reaction in the security markets, there is nothing particularly new pertaining to developments that might have a bearing on the markets for the current week. Assuming that there has been no decided pick up in spring business, we are at least assured that there has been no backward step. We also know that we have a world credit situation which affords the financial markets as well as general business a factor that must eventually bring a change in the present unsatisfactory condition of trade. We are inclined to take lightly the views of economists who in the past have not been particularly successful in forecasting the future trend and to accept the action of the stock market itself as reflecting the satisfacton,' composite view of the average business man. So long as the market shows such excellent recuperative powers, we continue to adhere to our belief that the general trend of values is toward higher levels.

Investment Trusts

Bid. Ask. Ara Founders (new! 24% 25% Basic Industry Shares 9% 10% Corporate Trust Shares 9% 10% Diversified Trust Bharea (A>.. 36% Fixed Trust Shares iB) ....... 22% ... Diversified Trust Shares <C%. 9% 9% First Investment Corporation. .. 11% Fixed Trust Share* (A) 22% Fixed Trust Share* (B> ...... 19% .. Investments Trust of N Y.... 12% 12% Leader of Industrv 12% 12 • No Am Trust Shares ....... 10 10% Power 8: Light See Trust.... 64 66 Reybam & C 0.... }•> Standard Oit Trust Shares 10 12 S W Straus lav Units 52 58 Selected Amer Shares 8% 8% Trustee Standard Oil Shares.. 11 .. U S Klee & Pow Shares A..... 42% 44% U S Klee Lt L Pwr Shares B 12 12% NEW YORK COFFEE RAN GF —April 13High. Low. Close. January 7.91 7.89 7.89 March <.BS 1./8 7.78 Mav 8.60 8 52 8.52 July 8.32 8.2* 8 54 88 83? 83? REVISE CLEANING WORK Street Sweeping Changes Announced by City Commissioner. Reorganization of the city street cleaning department into five crews with an inspector for each gang of men was announced today by Wilbur Winship, street commissioner. The crews will begin work each Monday at the city limits and work toward the center of the city, the center of the city being cleaned for Sunday.

PORKERS SLUMP 10 TO 20 CENTS AT STOCKYARDS All Slaughter Classes Off in Cattle Market; Sheep Are Steady. April Bulk. Top. Receipts. 7. *10.55* 10.90 810.90 3.000 8. 10.55*10.85 10.90 5.000 9. 10.40® 10.85 10.85 5,500 10. 10.20* 10.65 10.85 4,500 11. 10.45® 10.75 10.75 4.000 12. 10.45* 10.75 10.85 . 2,000 14 10.35S 10.65 10.70 5.000 Hog prices suffered a drop this morning at the Union Stockyards, the market being mostly 10 to 20 cents lower than Friday’s average. The bulk, 150 to 275 pounds, sold for $10.35 to $10.65. Top price paid was $10.70. Receipts were 5,000, holdovers 272. A lower tendency was apparent on all slaughter classes in the cattle market. Receipts were 500. Vealers were mostly 50 cents lower, the bulk selling at sl2 down. Early top on calves was $12.50. Calf receipts were 400. Sheep receipts were 200. The market held slow and about steady. Spring lambs were going at sll to sls. Shorn natives brought $9.25. Chicago hogs receipts were 43,000, including 12.000 direct. Holdovers were 1,000. The opening was slow’ with a few early bids 10 to 15 cents lower than Friday average. Choice 170 to 210-pound weights brought $10.40 to $10.45 bid and paid; 260 to 270-pound averages $10.15; 280pound weights $lO. Cattle receipts were 15,000, sheep 29,000. —Hogs— Receipts. 5,000; market, higher. Heavies. 300 lbs. up $ 9.75*10.00 230-300 lbi 10.10* 10.35 Med. wts.. 225-250 lbs 10.35*10.60 220-225 lbs 10.60* 10.75 Light, wts., 160-200 lbs 10.65*10.70 Light lgts, 130-160 lbs 9.75*10.35 Light wts.. 160-200 lbs 8.75% 9.50 Packing sows 8.00*; 9.25 -CattleReceipts, 500: market, steady. Beef steers. 1.100-1.500 lbs. good and choice $11.50.* 14.25 Common and medium 9.00*11.50 Beef steers. 1.100 lbs. down. good and choice 11.75**14.50 Common and medium 9.00* 14.50 Heifers. 850 lbs. down, good and choice 11.00*13.00 Common and medium 6.50*11.00 Cows, good and choice 8.25* 9.75 Common and medium 6.50* 8.25 Lower cutter and cutters 4.50* 6.50 Stocker and feeder steers. good and choice 10.00*11.50 Common and Medium 7.00 'a 10.00 —Vealers— Receipts. 400; market, lower. Medium and choice S 8.50 *.12.50 Cull and common 5.00 8.50 —Sheep— Receipts, 200; market, steady. iWooled basis) Lambs, good and choice S 9.00*. 9.50 Common and medium 7.50* 9.50 Spring lambs 11.00*15.00 Ewes, medium to choice 4.00*. 5.75 Cull and common £.oo* 4.00

Other Livestock By United Press CHICAGO. April 14.—Hogs—Receipts. 43,000. Including 12,00 direct; mostly 10 ira 15c lower; top. $10.50; bulk, 160-24 Q-10. weights. $10.1500.10.45; 250-320-lb. weights, $9.851/10.25. packing sows 10iii;15c lower at $9k9.35; butchers, medium to choice, 250-350 lbs., $9,651/ 10.25; 200-250 lbs., $9,851/ 10.50; 160-200 lbs.. s9.Bsfr/.10.50; 130160 lbs., [email protected]; packing sows. SB.9o(ti 9.50; pigs, medium to choice. 90-130 lbs., $94/10. Cattle—Receipts, 15.000; calves, 2,000; very dull market, general undertone. weak to lower; shippers demand narrow; largely a steer and yearling run, but fat she-stock again in. very narrow demand: slaughter classes, steers, good and choice, 1,300-1.500 lbs., $12,754/ 15; 1.100-1,300 lbs.. $12.50 </lE; 950-1,100 lbs., $12©14.75; common and medium. 850 lbs. up, $8,504/12.50; fed yearlings, good and choice. 7501950 lbs., $124/14.75; heifers, good and choice, 850 lbs. down, $11®13.50; common and medium, $8(<;11; cows, good and choice. $84il0; common and medium, s6.so'</8; low cutter and cutter cows, ssr/t 6.50; bulls, good and choice beef, sßsj> 9.25; cutter to medium, $795.8.25; vealers, milk fed, good and choice, s9<g;l2; mediums, SB(U9; cull and common, *6feß; stocker and feeder steers, good and choice, all weights, $10&11.50:' common and medium, $8(#10. Sheep—Receipts. 29.000; market opened 25c lower: indications bulk fat lambs, $9,255/9.50; best held at $10; shorn. $8,754/9.25; shorn yearlings, $8; ewes. $5.50; spring lambs, $18; lambs, good and choice. 92 lbs. down, $94410.15; medium, $8,504/9.25; cull and common, SB4? 8.50; medium to choice. 92(t£100 lbs. down, 58.254r9.85; ewes, medium to choice, 150 lbs. down, 55.2550 6.50; cull and common, $2.75(55.50; feeder lambs, good and choice, $8,504^9. Bu United Press CLEVELAND, April 14.—Hogs—Receipts. I. holdover, none, new choice lightweights, 5c lower: others, steady to 10c higher. 160-210 lbs.. $10.604/ 10.85- 120-250 lbs., $10,40-a 10.70; 250-300 lbs.. $7,254/ 10.50; over 300 lbs.. $lO. Catlte—Receipts, 600; slow, mostly steady; spots slower on common steers, downward to $9 to under, most common to medium kinds. $10.355(! 11. loads upward, $12.25 or bulk. Calves —Receipts 900: slow, steady; better grades, sl3fel4: Medium. $lO4/ 12: cull and common. s7foß. Sheep—Receipts. 2,500; lambs, weak: spots. 25c lower; better grade shippers. $8.5‘1®9: cull to meduirn, $5!&7.50. Itv United Press PITTSBURGH. April 14. Hogs—Receipts. 3.000: market weak to 10c lower; 150-230 lbs., $10,902(1!; 240-300 lbs.. $10& 10.75; 100-130 lbs., $10,264(10.50; sows, $8,504/9. Cattle—Receipts. 700; market, mostly 25c and more lower; heavy steers, bulls and lower grade sheep stock about steady: bulls, steers and yearlings. slo® 12.75; fat cows. $6,504(9; heifers, mostly sß® 11; bulls. $7,504/9.50. Calves—Receipts. 825; market, steady; top vealers. $13.50. Sheep—Receipts. 3.550; market, steady to strong: spring lambs, $1 higher: mostly $144(16; bulk clipped lambs, $8®8.30; few wooled, s*.7s@ 10.50; shorn aged v/ethers. $5 8 5.75. Bv United Press EAST ST. LOUIS. II!.. April 14.—Hogs— Receipts 1.500: market steady to 10c lower: top. $10.30. bulk 160-230 lbs., $10.15® 10.25; 230-260 lbs.. $10®10.15; packing soy/s. $8 85® 9.10. Cattre—Receipts. 3,500. Calves—Receipts. 2.200; market, good and choice vealers. 75c to $1 lower at $11.50; r limited number of early sales on cows and low cutters steady with lower undertone. Bulls about steady; bidding sharply lower on other classes. Sheep—Receipts. 15.500: market, few clipped lambs to shippers steady at $9.25’; indications steady to weak on other classes. B V United Press FT. WAYNE. Ind.. April 14—CattleReceipts, 50: calves, 50: hogs. 400; sheep, 25c; hog market, 10®25c lower; 90-110 lbs . $9.35:4110-130 lbs, $9.60: 130-150 lbs, $9.85; 150-160 lbs, $10.10: 160-180 lbs, $lO 35; 180-200 lbs, $lO 45; 200-225 lbs, $10.35: 225-250 lbs, $10.25: 250-275 lbs, $10.10; 275-300 lbs, $9.90; 300-350 lbs, $9.75; roughs, $8.25; stags, $6; calves, sl2; lambs. $9. Bv T'nitrd Press TOLEDO. April 14.—Hogs—Receipts, 450: market .steady to 10c lower; heavies. $9 50 '/MO: mediums. $10.25® 10.50: Yorkers. $lO ® 10.25; pigs. $lO4/10.15. Cattle—Receipts, light; market, steady. Calves—Receipts, light: market, steady. Sheep—Receipts, light: market, steady. Bv United Press BUFFALO. N. Y„ April 14.—Hogs-Re-celpts, 6.300: holdovers. 200; fatrlv active and steady to mostly 10c lower: bulk, 120250 lbs, $11: few $11.05; 280-280 lbs, $10.75 4J10.90; packing sows. 594£9.50. Cattle— Receipts. 1.500; fed steers and yearlings, rather slow, generallv 25c lower, cows steady to weak: good steers and vearlings. *12.75® 13.50; medium and short feeders, $11.25*8 12.50: medium heifers. $10.75811.25: fat cows. $7.5088.75: cutter grades. $3,508 6.25. Calves—Receipts. 2.000: better grade vealers. steady: others slow, weak to 50c lower; fed to choice. $13.50814; common and medium. $8 50 8 10.50. Sheen—Receipts. 6.000; lamb cualltv plain. 252 50c lower; good to choice clippers. 90-Ib. dowh. *9.25; sparingly. $9.50: medium and weighty kinds. $8.75 down: lambs, $10810.50; few spring lambs. sl4ffl6. B Uni s ett Press LOUISVILLE. April 14.—Hogs— Receipts. I. market. 15c lower: 300 lbs. up. $8.75-225-300 lbs, $9.80: 165-225 lbs.. $10.40; 130165 lbs, $9.60: 130 lbs. down. $7.60; roughs. $7.05: stags. $6.45. Cattle—Receipts. 600: market, steady; prime heavy steers. sllß 12: heavy shlppine steers. *10811: medium and plain steers. *8.50810: fat heifers SBB 11. rood to choice cows, 56.50ff8.50: medium to rood cows. *5.50 8 8.50: cutters. $585.50: eanners 53.5084.50: bulls. s6®*; feeders. *8810.75: stoekers, *7.50811. Calves —Receipts. 600- market. 50c lower; tops. *10: rood to choice. *8810; medium to rood. *8.5088: outs. *6 down. Sheep— Receipts. 10fl- market, steady; ewes and wethers. *9.50810: buck lambs. *8.5089; seconds. *6®7: sheep . *4.5085.50. Saturday and Sundav ahipments—Cattle, 0; calves, 449; hogs. 416; sheep. Q.

THE INDIANAPOLIS TIMES

The City in Brief

TUESDAY EVENTS Sigma Delta Chi Founder’i day dinner. Columbia Club. 6:30 p. ro. Rotarv Club luncheon. Clavpool. Gyro Club luncheon. Splnk-Arms. Mercator Club luncheon, Columbia Club. t Purchasing Agents' Association luncheon. Severin. American Chemical Society luncheon. Chamber of Commerce. Universal Club luncheon, Columbia Club. Phi Gamma Delta luncheon. Chamber of Commerce. University of Michigan alumni luncheon. Lincoln. . , North Side Exchange Club luncheon. 3810 College avenue. „ , . Alliance Francaise luncheon, SpinkIndianapolis Medical Society, Athenaeum. 8:15 p. m. Indianapolis Republican Veterans luncheon. Board of Trade. Members of the Art Association have been invited to a painting demonstration, to be given at the Herron Art Institute art school at 10 Wednesday morning by Charles W. Hawthorne, American portrait painter. Thirty men and sixty women are trying out for the 1930 Butler university Fairview Follies chorus. Students are WTiting skits and musical numbers for the show, which will be given next month. A demonstration in painting will be given at 10 a. m. Wednesday in the art school of the John Herron art institute by Charles W. Hawthorne, American portrait painter. Members of the art association are invited. Postponement of the annual meeting of the James Whitcomb Riley chapter of the Order of Ahepa, a Grecian-American organization, Sunday was necessary due to inability of national officers to attend the meeting. Andrew Kostas, president, said today that a date for the chapter’s sessions will be announced later. A membership drive for the Indianapolis Civic Concert Association will be started the week of April 28 under the leadership of Louis Borinstein, newly elected president of the organization. Sheriff George L. Winkler will be the principal speaker Wednesday night at a mass meeting of the Winkler-for-Sheriff Club in the Travertine room of the Lincoln, Miss Bertha L. Klein, club chairman, announced today. Program will include njusic, with Mrs. Bloomfield H. Moore presiding. The Indians and the Kansas City baseball team will be guests of the Kivvanis Club at its weekly luncheon at the Clay pool Wednesday. Prizes offered the players through the Chamber of Commerce for various plays will be presented at the luncheon. Willis A. Sutton of Atlanta. Ga., humorist, will speak. A silver anniversary dinner Wednesday night in the Columbia Club will commemorate the twentyfifth birthday of the Indianapolis Jewish Federation. Rabbi M. M. Feuerlicht, Louis J. Borinstein and Frederick M. Butzel of Detroit, will be chief speakers. An all-day property management conference is to be held through the co-operation of the local real estate board and the National Association of Real Estate Boards, at the Lincoln Thursday. Principal speakers will be Frank S. Slosson and Oliver S. Turner, both of Chicago. _ - A Ninth ward Democratic meeting will be held at 631 North Rural street at 7:30 Tuesday night with candidates as speakers.

RAINS HELP CROPS Showers Bring Relief to Suffering Grain Belt. Bv Un ! ied Press KANSAS CITY. Mo, April 14. April showers and cloudy weather forecast for today for the southwest grain belt brought smiles to fanners who have lost millions of dollars the last week because of unusually hot weather. Relief came Sunday night when rain fell over Missouri. Kansas, Oklahoma and Texas, settling dustcovered fields and offering life to stunted wheat sprouts which had been tom loose by high winds. Loss to Kansas farmers during the past week has been estimated at $1,000,000 daily because of the dryness of the soil and wind storms. HOLD CONFERENCE ON GAS CASE LITIGATION City Must Wait for Appeals Court Ruling, Sullivan Told. Pending litigation in the Citizens Gas Company case in federal court was discussed today at a conference of city utilities district trustees and Havor Reginald H. Sullivan. The city can not take over the j utility, according to an agreement, | until the appeal to the circuit court of appeals is decided this fail, it was explained. Several propositions to run natural gas lines to the city were to be discussed ORDER PREPARED ON INSULL MERGER MOVE Announcement Slated "Some Time This Week," Says Ellis. Commissioner Howell Ellis of the public service commisssion returned to his office at the statehouse today with the order on the $70,000,000 Insull utilities merger petition. It is expected the order will deny the petition. v He has prepared the order at home during the last week and today ordered it typed. v Ellis announced that it will be brought before the entire commission ‘‘some time this week.” It has been predicted that denial of the merger will be unanimous. Pipe Line Values Boosted Tax valuations of the Indiana Pipe Line Company, New York, were increased by the state tax board today from $3,612,000 to $4,000,000. The company operates an oil line across the state from Illinois to Ohio,

NEW BROKERAGE OFFICES OPENED BY LOCAL FIRM Times Has Special Wires to Thomson & McKinnon Board Room. The ultimate in brokerage office appointments was opened to the public today when Thomson & McKinnon started the week's business in their new offices, a suite of fourteen rooms on the second floor of the new Circle Tower building. Utility, comfort and efficiency are expressed in their highest degree in the new offices. In the boardroom tickers have been removed, to do away with noise, and the ticker tape slides through slots in the stock board. At one end of the room is a large, concealed sound amplifier connected to a microphone back in one of the offices. Should a customer be called on the phone his name is called through this amplifier, saving time. News flashes also are given through this system. The new quotation board is sev-enty-five feet long, giving room for an unusually large number of quotations on listed securities. The firm is one of the largest in the country. It was founded in 1913 through the merging of the firm of A. W. Thomson & Cos. and the business of R. W. McKinnon and his associates. Thomson started his business in Indianapolis in 1885. He died four years ago. The main office of the company is in New York, occupying the sixteenth and seventeenth floors of the Stock Exchange building. Two private telephone lines have been installed in the new offices by The Indianapolis Times, assuring readers at all times of the latest and most accurate stock quotations of Indianapolis evening newspapers.

In the Air . Weather conditions in the air at 9:39 a. m.: East wind, \0 miles an hour; barometric pressure. 29,98 at sea level; temperature, 65; ceiling unlimited; visibility, 3 miles; field good. , Arrivals and Departures Curtiss-Mars Hill Ahport—Mr. and Mrs. Billie Parker, Tulsa, Okla, to Winnipeg. Canada, Travel Air, overnight; T. A. T. passengers westbound included F. L. Leichtel, J. H. Kilman and Frank McKeegan of Indianapolis; Mrs. Pal Clark, St. Louis; Carl F. Carmony, Miss Lena Valentine and Miss Mildred Valentine, Terre Haute; R. L. Walker. Batesville, and A. W, Littlefield and T. M. Meyers, Louisville; east-bound passengers included Mrs. Oscar Fowler, Mrs. T. J. Callahan. Andy Young and E. V. Michael, Indianapolis, and William Craig, Knightstown. Embry-Riddle passengers to Cincinnati were L. Gerding and H. Kluntz of Newport, Ky., and to Chicago were A. J, Horan, J. P. Horan, E. F. Lavoie, Dan Devereaux, Harry Roberts and Miss Lucille Pealish of Chicago. Continue ‘Penny’ Rides Rain Interfered slightly with activities- at city airpqj-ts Sunday but did not stop parachute jumping at Hoosier airport and other air stunts that had been arranged. A favorable response from the public to the "penny a pound” ride rates at Capitol airport is reported by airport officials. All passengers this week and next Saturday and Sunday W’ill be carried for the> penny rate, Elmer H. Jose, airport president, has announced. Air Route to Start Bv United Press NEW YORK, April 14.—A daily round trip passenger air service between New York and Pittsburgh with planes leaving Newark airport at 9:30 a. m. and Pittsburgh at 2:30 p. m. will start Tuesday. The line will be operated by Pittsburgh Airways, Inc. and Wright-motored Travel Air cabin monoplanes will be used. LIST BUSINESS FIRMS 4.500 Included in New Directory by Chamber of Commerce. Completion of an industrial directory of Indiana with its listing of 4,500 business firms, was announced today by William H. Arnett, managing director of the Indiana State Chamber of Commerce, 502 Board of Trade building.

; W >W9 WE BUY m Ii Vr ASTE PAPER 11 1 CALL LINCOLN 3588 1 American Paper Stock Cos. 340 W. Market St. f1.1.F, (M* I* MM 800 X.... Call the Directory Advertising Department Ittdftftna BeH Teleplwrafe

Business and Finance

Activity on the New York Stock Exchange showed a decided increase in March over the first two months of the year, although relatively far below that of any March since 1927, according to the Stanard Statistics Company’s new index of stock sales, based on the number of shares listed, with the average of 1926 taken as 10C. The index for March is 114.2 against 94.2 for February and 77.6 for Janua'ry. The figure for March, 1929 was 186.9. The index is designed to give a truer picture of trading activity than that obtained from the number of shares sold, in that the factor of number of shares listed, which has increased vastly in the last few years, is taken into consideration. Atlantic securities Corporation in Its 'report for the first quarter of 1930 shows gross income of $188,270 anti net income of $184,380 before reserves for federal taxes. The latter included $123,214 from trading profits and $65,056 received from interest and dividends. During the first quarter of the year the gain In value of the portfolio totaled $1,093,883 in addition to the realized profits of $184,380 After allowing for preferred dividends the net appreciation in assets was $1,233,263. or 17.9 per cent. The net asset value of the common stock on March 31. 1930, after preferred stock and assuming the exercise of 12,028 management warrants was $29.69 per share against $22.85 on Dec. 31, 1929. Directors of Railway and Light Securities Company declared a quarterly dividend of $1.50 per share on the preferred stock, and a quarterly dividend of 50 cents per share on the common stock, both payable May 1 1930. lo stockholders of record at the close of business April 15, IS>3O. CHICAGO, April 14.—April shipping schedules of the Warner Gear Company, subsidiary of Borg-Warner Corporation, are 10 per cent larger than shipments In April, 1929. C S. Davis, president of BorgWarner. said. “While Warner Gears first quarter business was somewhat below the abnormal first quarter of last year, present indications point to continuation of the current month’s trend.” Directors of the Columbus Auto Parts Company have declared the regular quarterly dividend of 50 cents per share on the convertible cumulative preference stock, payable June 1, 1930, to stockholders of record at the close of business May 17, 1930. An official schedule of world tin production during 1930 has juit been issued by the Tin Producers’ Association. The schedule shows the increase in production from all fields during the last four years and states that under normal conditions there would have been a still further increase during 1930 to 191.022 tons of metal. Unfilled orders of Duesenberg, Inc., subsidiary of Auburn Automobile Company, are sufficient for the plant to run at ’capacity for two months and improvement in sales is noted throughout the country. H. T. Ames, vice-president, reported. Unit Corporation of America is in an excellent position regarding orders and earnings, it was stated by Vi. H. Schmidt, president. “Our first quarter this year was the best in our history,” Schmidt said, “and preesnt prospects indicate that the second quarter should be not only better than the first quarter but likewise ahead of last year.” CHICAGO. April 14.—Steady production in all divisions of Foote Brothers Gear ft Machine Cos. for the next fh-ee to four

Produce Markets

Eggs icountrv rum—Loss off delivered In Indianapolis. 21c: benerv oualitr. No 1 24c: No. 2. 2lc. „ . . Poultrv louvlng pricest Hens weiehing 4>/i lbs. or over. 22c; under 4Vi Ibn.. 22c; Leghorn hens. 20c: springers. 4 los.. or over. 21c; under 4M lb.*.. 21c: broilers. 1930, 30c: old cocks. 1215 c; ducks, lull feathered, fat. whites. 12c: ceese. 10r. These prices are for No 1 too oualitT ouoted bv Klngan zte Cos. „ Butter (wholesale' —No. 1. 42/r43c: No. 2, 40® 41c. Butterfat—39c. Cheese i wholesale selling price per pound)—American loaf, 31c: pimento loaf. 33c: Wisconsin firsts. 27c: Longhorns 34c: New York limberger. 36c. Bv United Press CHICAGO. April 14.—Eggs—Market steady; receipts, 54.413 cases: • xtra firsts, 25%?/26: firsts. 24>z®25; ordinaries, 23®) 23'iic; seconds, 22%c. Butter—Market steady: receipts. 11.576 tubs; extras, 37; extra firsts. 34*36>ic: firsts. 34V*® , 35 I J c; seconds, 318 33c; standards. 37c. Poultry —Market steady: receipts. 4 cars; fowls, 25c: springers, 30c; Leghorns. 20c; ducks, 20®23; geese, 15c; turkeys, 30c; roosters, 14c; broilers. 36®40c. Bv United Press NEW YORK. April 14.—Flour—Dull and unchanged; spring patents, $G.10<6.50. Pork—Dull; mess. $31.50. Lard—Easier: middle west spot, $10.70810.80. TallowQuiet; special to extra. 6 5 /i®6 s i. Potatoes —New. weak and lower; old. quiet: Long Island. $1,754/5.50; southern. $3.6086.75: Maine, $1.75®5.35; Bermuda. $5®7.60. Sweet potatoes—Firm; southern baskets, 51.50i7 2.50; jersev baskets. 60c4>$3. Dressed poultry—Firm: turkeys. 291/42c; chickens. 18834 c; capons, 30@44c; fowls. 164/32c: ducks. Long Island, 22c. Live poultry—Dull; geese. 13® 18c; ducks. Hoo 26; fowls. 16@32c; turkeys. 40®50c; roosters, 14®15c; chickens. 19@22e; capons. 32850 c; broilers. 34@45c. CheeseDull; state whole milk, fancy to special. 24@26c; young Americas, 22®25c. Bv United Press CLEVELAND, April 14.—Butter—Extras. 37c; standards, 37. Eggs—Extras, 36‘ic: firsts, 25'/®26c. Poultry—Fowls, 30c; medium, 28c; Leghorn, 22® 25c; heavy broilers. 35842 c: Leghorn broilers. 33® 35c; ducks. 254/28c; old cocks. 18c; geese, 16® 20c: stags, 22c. Potatoes—Ohio and New Work. [email protected] per 150-lb. sack; Maine Green Mountain. $3,854/4 per 120lbs. sack; Idaho Russet, [email protected] per 100-lb. sack; home-grown, new, $1®1.25 per bushel sack. Bv United Press CINCINNATI. 0.. April 14.— Butter. Steady; creamery, in tub lots according to score, 39®40c; creamery, score discounted 2@3e; packing stock, No. 1,27 e; No. 2,22 c; No. 3, sl7; butterfat, 36®39c. Eggs—Steady: cases included: fresh gathered, 25c; firsts, 24‘/ic; seconds, 22%c: nearby ungraded. 24Vac; duck eggs. 30c; goose, 75c. Live poultry—Thin and coarse stock sells only at heavy discount: fowls, 5 lbs. and over, 36c; 4 lbs. and over. 26c; 3 lbs. and over, 26c; Leghorns, 3 lbs. and over, 21c; roosters, 14%c; capons, 8 lbs. and over. 35c; under 8 lbs.. 33c: slips. 21c; 1930 broilers over 2 lbs., 39c; colored broilers, l’i lbs. and over, 35c; IV* lbs. and O'er, 30c, Leghorn and Orpington broilers, V lbs. and over, 35c: 1% lbs. and over, 28c: broilers, partly feathered, 24c; black springers, 24c.

months is assured by present orders on boqks. according to announcement by W. C. Davis, president.

Indianapolis Stocks

—April 14— Bid. Ask. Amer Central Life Ins C0...1.000 Belt R R ft Yds Cos com 61 63% •Belt R R ft S Yds Cos pref. 56 60 Bobbs-Merrill Cos 30 33% Central Ind Pow Cos pref 91 95 Circle Theater Cos com 105% ... Citizens Gas Cos pfd 96 99 Commonwealth L Cb pf 7%.. 97 102 Commonwealth L Cos pf 8% ... 99 Hook Drug Cos com new 23% 25% Ind Hotel Cos Claypool c0m...125 Indiana Hotel Cos pref 100 Indiana Service Corp pref... 83 Indianapolis Gas Cos common.. 57 61 % Indpls Poweg & Lt Cos pfd.. 104 106 Indpls Pub Wei Loan As com 53 Indgls St Ry Cos pfd 30 31% Indianapolis Water Cos pfd... 98 Interstate U S Cos pr 6% L pf 90 93 Interst P S Cos pr 7% P pfd. .101% 104 Metro Loan Cos 98% •Northern Ind Pub 5%9b co pfd 91% 94% •Northern Ind Pub 6% co pfd 99 103 •Northern Ind Pub 7% co pfd 106 Progress Laundry Cos com... 46 48% E Raub St Sons Per Cos pfd .48 Real Silk Hosiery M Inc pfd 98 Shareholders Investors C 0... 24% ... Standard Oil Cos of Ind 57% •Terre Haute Trac L Cos pfd .73 Union Title Cos common 42 49 Van Camp Prod Cos Ist pfd. .. 98 Van Camp Prod Cos 2nd pfd 98 •Ex-Dividend —Bonds— Belt R R & Stock Cos 5a.... 91 Central Indiana Gas Cos 55.. 99 Central Ind Power Cos 65... 99% ... Citizens Gas Cos 5s 102 Citizens Street Railroad 55... 50 54 Garv St Ry Ist 5s 65 Home T ft T of Ft Wayne 65.101% Ind Northern Trac Cos 5s ... 3 5 Ind Rv ft Light Cos 6s 98 Indiana Service Corpti 55... 89 Indpls Power <fc Light Cos 5s 99 101 Indiana Union Trac Cos 5a.... 5 Indpls Col <fc Cos Trac 6s ... 96 100 Indianapolis Gas Cos 5s .... 99 Indpls ft Mart Rapid T Cos 5s .. Indpls No Trac Cos 5s 10 13% Indpls North Western Cos 5s Indpls Street Rv 4s 42% 43% Indpls Trac Ter Cos 5 93 95 Indpls Union Ry 6s 100% Indpls Water Cos 5%s 102% .. Indpls Water Cos 5s 95 Indpls Water Cos lieu St ref.. 92% 94% Indpls Water 4%s 92 Vi 94% Indpls Water W Sec Cos 5s ... 83 Interstate Pub Serv Cos 4%5.. 91 ... No Ind Pub Serv Cos 6s 101 Interstate Pub Serv Cos 4%5... 91% ... No Ind Pub Serv Cos 5s 100 No Ind Telegraph Cos 6s 97% ... T H Ind ft East Trac Cos 55.. 62 T H Trac ft Light Cos a5.... 9.5 Union Trac of Ind Cos 6s ... 17 22

New York Bank Stocks

National Banks —April 11— Bid. Ask. America 149 150 Public 142 143 Vs Chase National 167 168 Chat Phenlx National 564 570 National City Bank 243 244 Guaranty 853 836 First National 6,425 6.475 Manhattan & Company .. 151 152 Bankers 174% 175 Trust Companies Central Hanover 407 409 Corn Exchange 256 257 Bank of United States.... 78 l / 79 Irving 68® 68/a Manufactures 147 148 New York Trust 320 323 Brooklyn 920 935 Empire 100 102 Interstate 52 333 Vi / > 33Vi Other Livestock Bv United Press CINCINNATI, 0., April 14—Hogs—Receipts, 5,570; holdovers, 80: butchers, 160280 lbs., 15820 c lower; others, steady; bulk good and choice, 160-230 lbs.. $10.65; few 250 lbs., $10.35; choice, 280-290 lbs., $10.15; less desirable, $lO down; 120-150 lbs., $10.25; pigs. 90-110 lbs., $9.25®10; sows. $888.25; few $6.50. Cattle—Receipts, 700: calves, 425; steers a id heifers, uneven, mostly steady; better grade steers, active; scarce; beef cows closing 25c lower' other cows unchanged, good around 675-lb. yearlings and 1000-1100-lb. steers, sl2; some steers, $12.25; medium grade steers and heifers, $11.50; beef cows, s7® 8: few $8.50 or above: low cutters and cutters, $5.258,6.75; bulls, $788.50; better grade vealers opened 50c lower at $12.50; spots $1 off; undergrades neglected; common and medium, *78)10. Sheep—Receipts, 250; steady; choice, 40-50-lb. springers, sls: 60-76 lbs., *12®13; common and undesirable, $lO down; choice shorn lambs, $9 down; choice light ewes $5 down. HINDU LEADER JAILED Six Months Term for India Congress Chief. Bv United Press ALLAHABAD. India, April 14. Tlie Pandit Jawaharlal Nehru, president of the India national congress. was sentenced to six months imprisonment today for violation of the salt tax laws. Conviction of Nerhu, who is the son of the noted agitator, Motilal Nehru, strikes at one of the highest leaders of Mahatma Gandhi’s civil disobedience campaign. Wrong Address Is Given Mrs. Frances Boyd, 29, who Saturday was sentenced in criminal court to serve two to fourteen years at the Indiana woman’s prison for forgery, has not resided at the address she gave, 139*2 East Twentysecond street, since last August, occupants there said today. Woman Attempts Suicide By Times Special CLOVERDALE, Ind., April 14. Mrs. Laura Heath, 57, is in a critical condition, the result of shooting herself through the stomach today. She had been despondent over the death of her husband six weeks ago.

We Make ?EAL ESTATE FIRST MORTGAGE LOANS FARMXBS TRCST COMPANY 150 Kant Market Street REley 488*

I i ————■—— We Announce the Removal of Our Indianapolis Office to 200-214 Circle Tower Thomson & McKinnon INDIANAPOLIS CHICAGO NEW YORK MEMBERS New York Stock Exchange Chicago Board of Trade New York Cotton Exchange Chicago Stock Exchange New York Curb Exchange Telephone LI ncoln 5501 April 14, 1930

PAGE 11

GENERAL RAINS SEND FUTURES MARKET DOWN Weather Reports Aid Bears in Drive Against Grain Prices. li'i In if rtf Free * CHICAGO, April 14. Wheat broke sharply as the Board of Trade opened today under scattered elling on the general rains over the entire west. Nebraska, Oklahoma and parts of Texas getting good rains The eastern part of Kansas received some precipitation but the western part got but a few showers and is still very dry. Liverpool’s break was caused by the weather in the southwest. Corn and oats slumped with wheat. At the opening wheat was 7 to I s * cents lower, corn was %to *■ cent lower and oats was % to h cent down. Provisions were steady. Liverpool was not as weak as expected at the start but broke near noon and fell to 2% to 2% cents lower. The open interest in May wheat is another bearish factor, being very large with the first, delivery clay only two weeks away. The visible supply this afternoon is expected to show a fair decrease. Bears in corn are showing a little more confidence with the expectations that the increasing receipts and the break in wheat will cause considerable pressure on the market. Oats is under the same influence that affects corn. Any moisture In the southwest will help the seeding of oats as well as corn.

Chicago Grain Table —April 14— WHEAT— Prw\ High. Low. Close, close. May 1.10 l. 08 1.08% 1.11 juiv i.iiv 1.09% i.io l.ijy* Sept 1.13 >* 1.12’*1 .12% 1.11% Dec 1.17®* 1.17% 1.17 1.19 V, CORN— Mav .82% .82 *3% 43 % July ,85% .84% .85% .B*% Sept 86% .85®/* .86 .88% Dec 81% 81 .81% ,82 OATS— May 44 .43% .43% .44% July 44 Vi .44 .44% .44% Sept 42% .42 ,42% .4*% RYE— May 62% .6.1 .MV, .84% July .70% 69V* .68Va -Tl Sept 73®4 .73% .73% .78% LARD— May 10.33 10.J8 July 10.57 1 0.55 10.55 10.80 Sept 10.77 10.88 By Times Special CHICAGO, April 14—Carlots: Wheat. 21; corn, 162; oats, 33: rye. 1, and barley. 3.

Cash Hay

Indianapolis hay prices, f. ©. b. country points with freight rate to Cincinnati or Louisville, 23Vi cent* or less; No. i timothy. *13.50; No. 2, *11.50: No. 3. *18; No. 1 light clover mixed, *11.50: No. 1 clover mixed. *11.50: No. 1 clover. 810. M NEGRO SHOT IN BACK Another Is Held on Charge of Firing Buckshot at Victim. Huel Noel, 34, Negro, of 1740 Keystone avenue, is in a critical condition at city hospital today and Ledford Stewart. 45, Negro, of 1749 St. Paul street, is held on charges of firing a charge of buckshot into Noel's back Sunday night. Andrew White, Negro, 932 Hadley street, is sought by police today on charges of firing two shots at his wife, Mrs. Rose White, early this morning. William Dills. 32. Negro, 613 Fayette street, was slashed across tfre face and is in city hospital while police are seeking William I>e, Negro. ACCEPTS RADIO AGENCY Kruse Company State Distributor for RCA Tubes, Receivers. C. J. Kruse, president of the Kruse Radio Company, Inc., announced hi* organization has been appointed a* Indiana distributor for RCA Radiolas and Radiotron tubes. Kruse Radio, Inc., one of the oldest retail and wholesale concerns in the state, has been state distributor of Amrad and Crosley radio receivers for the last eight years. Murder Trial May 26 Bv United Press GREENFIELD, Ind., April 14. Charges of poisoning two wives will be faced by George Kolb. Rush county fanner, on May 26. The case was brought to Hancock county on a change of venue. Kolb is charged with first degree murder.