Indianapolis Times, Volume 42, Number 35, Indianapolis, Marion County, 20 June 1930 — Page 21

JUNE 20, 1930

WHEAT FUTURES IRREGULARLY UP IN EARLYSALES Conflicting Reports Affect Market Unevenly: Corn Demand Good. By United Pretl CHICAGO, June 20. Wheat opened unevenly higher on the Board of Trade today with less selling pressure and a better feeling evident. Liverpool was strong, but had a fluctuating tendency, the Canadian crop summary giving the market strength and the pressure from Indian wheat tending to weaken it. Buenos Aires was unchanged. Corn and oats were unevenly higher to slightly lower. At the opening wheat was *4 to %c higher, corn wag %c lower to %c higher, and oats was %c lower to He higher. Provisions were steady. Opening stronger than expected, Liverpool eased just before noon only to recover and stand \ c higher at mid-afternoon. While the heavy liquidation in wheat seems to be over, at least for the present, the sentiment on the outlook remains bearish though traders are mere disposed to pay attention to foreign news which has turned slightly bullish. The better tone in the stock market has given grains a better fueling but the movement of the new winter wheat crop and the hedging pressure attendant checks rallies. Paucity ... country offers at prevailing prices, a continued good cash demand and light stocks of old corn are the constructive factors in the corn pit. The action of wheat haa been ruling the market, traders disregarding fundamentals when wheat is weak. Weather remains favorable. The cash demand for oats has been surprisingly good. This market has been following the trend of the major cereals except when news of an individual nature appears. Chicago Grain Table —June 20— WHEAT— Prev. High. Low. 1:00 close. .tfulv 96 3 * .95', .95 % .96% September .. I.oo'i .98vi .98% .99% December ... 1.04’. 1.03% 1.03*4 1.04'.i CORN—. July 76 3 * .75% .75% .76’i September .. .739.4 74 3 * .74% .75'a December .. .70% .699* .69% .70’,* OATS— July 38% .36% ,36V* .36% September .. .37' / 2 .37 .37 .37 % December ... .40% .40% .409* .40*8 RYE—v'uly 50% .499* .499 J .50*4 leotember .. .55'4 .53% .53’/* .5494 December ... .61'-4 .60 .60 .6194 LARD— July 9.60 9 50 9.60 9.47 September .. 9.73 9.65 9.73 9.63 ►acember ... 9.47 9.35 By Time* Special CHICAGO. June 20.—Carlots: Wheat. 7; torn. 77: oats. 22: rye. 1. and barley. 2.

50c Down—soc Week I None Sold to Dealers —None Sold for Cash! Take a Reliable Wrist Watch With You on Your Vacation! . flies’ or Gents’ Guaranteed iVrist Watch Every watch accurate and dependable. Daintily engraved models for women. Handsome, rugged models for men. Choice. $11.95. b JEWELERS SINCE 1900 tj| NOW—At 108 W. Washington St. 2£ H

New York Stocks - (B Thomson Sc McKinnon! ——————

-June 30Riilroid*— HlJth. Low. 11:30. ctol* Atchison 215 214 215 AtJ Coast Line }*' ♦ Balt & Ohio ...105 104 7 4 105 104 Chesa & Ohio I|o 1?J Chi Ort West.. 10 9H 10 % Del L& W ... llfV? Del & Hudson 158 156% Erie 38% 37% Great Northern • §S% Gulf Mob & Oil 339. 34 Illinois Central. 113 11^ Kan City 50.... 63% 63% 63'* Lou & Nash 130 I*l , MKSt T 39 38% 38 37% Mo Pacific .... 67 3 4 67 s * 67% 679 Mo Pacific pfd I?? NY CentralT!?. 16294 162*. 163*4 163 NY NH Si H.... 107 106% 107 106% Nor Pacific J**., Norfolk St West 223% 232% Pennsylvania 'V, 72^ li3'4 ii3*a iij'/a 113% Southern Rv ... St Paul 1494 14*4 14% 14 St Paul pfd 33 5 .3372 7 2294 23*4 Union Pacific • 214 Wnhkth 30 30 W Maryland... 2394 23*4 2394 22'4 West Pacific..., 20 18 Equipments— Am Car St Fdy 46 46*4 Am Locomotive .. ... • **4 Am Steel Fd.... 40 39% 3914 39 Am Air Brake S ... ... ••• 43 Oen Am Tank.. 90-* 899, 899* 89 General Elec 73 719* <2 71 • Oen Rv Signal .. ... • Lima Loco 2594 24-$ 25 28 Man El Sup 10 8% N Y Airbrake.. .. ... ... 40 Press Stl Car... 89. 7*4 794 7 Pullman 67 66% 67 66 Westlngh Air B 40 7 ,40 4040% Westmgh Eiec ..142 c 141 1419a ,409a Rubbers— Firestone 30% 3094 209* 2094 vi.ir ... 2 7 29a Goodrich 289a 28% 28% 27 4 Goodyear \{* Kelly Sprgfid 3% *% If s ß ßubwr::.: 23% 23% 2394 22" Motors— Auburn 11394 112 112% 113 Chrysler 27 26% 26% 28% Gardner 3 2 s Graham Paige .. .. ... 6/ 8/* General Motors. 42 3 42*4 42V* 419* Hudson 319. 31 31 31 Hupp 1594 15 94 Mack 53% 52 52 52 a Marmon 12% 1294 Nash 35% 35 35 34:. Packard 14 3 . 13 7 139. 13/ Pierce-Arrow ■ 20% 219* Reo 99. 89. 99. 8% Studebaker 279. 26% 279. 26% Yellow Truck .. 24 239. 23 s /. 22'/. Motor Access— Am Bosch 31 309* Bendlx Aviation. 33 31 32% 31 Bo:g Warner ... 299* 289. 299* 28 Briggs 20% 199* 209. 199a Eaton 23% 22% 229* 22% El Storage B 659. 64% 6594 65 Hayes Body .... 7 69. 69. 694 Houda * 129* 1294 1294 13 Motor Wheel ... 23 2294 2294 22% Sparks W 1894 179. 179. 18% Stewart Warner 22, 21V. Tin kin Roll 63 63Va Mining— Am Metals ..... 35% 3494 36*4 33 Am Smelt 589. 58 58 5794 Am Zinc 894 8 Anaconda Cop.. 5 1 5094 5094 4b 3 /* Cal & Hecla ... 1494 14*4 1494 13% Cal St Arlz 5594 549a 5594 50V* Cerro de Pasco.. 44 43 44 44 Freeport Texas. 4194 40 4194 4094 Granby Corp .. 249* 2394 2394 2194 Great Nor Ore 19 19 Howe Sound ... 2894 2894 2894 2894 Int Nickel 25 24*4 2494 24% Inspiration .... 1594 1 494 1 5 1 49* Kennecott Cop.. 41 40 4094 3994 Magma Cop ... 33 3294 33 3194 Miami Copper.. 1694 16V. 1694 169* Nev Cons 1694 1694 16V* 169* Texas Gul Sul.. 54 539. 53% 539. U S Smelt 20 1994 19% 1994 Oils— Amerada 24% 2394 Am Republic 18 1894 Atl Feflnlng 3594 359. 359. 34% Barnsdall 2394 229. Beacon 1394 Houston 7994 78 78 779* Ind Oil 2194 21*4 Indian Refining.. 1294 1 2 12% 119. Lazo Oil 22*4 Mex Sbd 21*4 21 21 20% Mid Conti 25 2494 25 2494 Pan-Amer (Bl , 56 Phillips 32*4 32 32 32 Pr OH & Gas , ...., 3794 Pure Oil 2094 2094 2094 2094

Richfield 17*4 16% 17% 16% Roval Dutch 51*4 50% 51% 50 7 a Shell Un 19% 19% 19% 19% 81mms Pt 2394 23*4 2394 20% Sinclair 22% Skellv 31 30*4 31 30 Standard of Cal 6194 61% 61% 61% Standard of N J 66- 65% 66% 66% Standard of N Y 32% 32 Texas Cos 52% 51*4 529* 51 Union Oil 40*4 3994 4094 39*4 Am^RoTTMills.. 6094 57Vt 57% 61% Bethlehem 84% 84 B*% 83% Bvers A M 78 78% 779, 77 Colo Fuel 5794 50% 51*4 4994 Cruc Steel ■ 7294 719* Inland . 71 Ludlum 27V. 23% 27*/. 26% Midland 28 Newton *0 Repub ISt 8 ... 4494 43% 43% 44% U 8 Steel 162% 161 161 161 Vanadium ... 84% 82% 83% 81 Youngst 8 St W 339 a Am Sumatra 12., .11% Am Tob (B) ... 236% 233 235% 233 Con Cigars 40 94 39 409* 41% General Cigar.. 48*/4 48 48 4(94 Llg St Myers 8.. 93 9294 92% 91% Lorllard 1994 1994 1994 18% Phil Morris 10 9% Reynolds Tob 49% 48 V. 49 V* 47% Tob Pr A 10% 10% Tob Pr B 394 United Clg 7 7 Utilities— Abitlbl 25 Adams Exp 25% 24% 259* 24’ a Am For Pwr ... 8694 84% 869 2 85 AT&T 211 2109% 210V4 211*4 Col Gas &El ... 68 6694 66*/. 6694 Com & Sou ... 1494 1 4*4 14 V 4 14*4 El Pwr & Li.. 69 94 679* 679* 68% Gen Gas A 10*4 10% 10% 10 Inti TANARUS& T 46% 45% 45% 44*4 Natl Pwr & Li. 37% 38% 37V. 36% No Amer Cos ...10594 104% 105% 104% Pac Gas & El 58% 5394 Pub Ser .. J ... 96% 96 86 9594 So Cal Edison. 60 59*4 60 58 Std O &VEI 9494 United CoYp 3 4 33 94 33 9 4 33 Ut Pwr & L A.. 34 339* 33% 33% West Union. 165 V* 164 Shipping— Am Inti Corp .. 34% 3494 34*4 33% Inti Mer M pfd. 22% 21 22% 2094 No Om Llovd .. .. ... 4994 ... United Fruit 88 Foods— Am Sug 51 Armour \ 5 49. Cal Pkg 65 Can Dry 60 Childs Cos 5894 56% 58% 56 Coca Cola 17494 173*4 Cont Baking A.. 22*4 21*4 21% 21% Corn Prod 979* 96% 96V4 959* Cuban Am Sug 594 Gen Foods 56 5594 5594 55 Grand Union 12 11 Hersey 82 86 Jewel Tea 52% 499. Kroger 25% 24% 24% 24% Nat Biscuit 80'/a 80 8094 80 Plllsbury ... ... 2894 Safeway St ... 81% 80*4 Std Brands 20 19% 19T4 19’/* Ward Bkg 894 8 8 7% Drugs— Coty Inc 19% 19 T 9 17 Lambert Cos 83% 83 83% 82*4 Lehn & Fink ... 2594 25% 2594 229. Industrials— Am Radiator ... 2594 25% 25% 25 Bush Term 33 32 Certainteed 6 5% Gen Asphalt ... 4494 4394 4394 439* Lehigh Port 33 Otis Elev 62% 61% 6194 61*% Indus Chems— Allied Chem 266 255 266 262 Com Solv 2494 23% 23% 23% Union Carb 70% 69 69 68 U S Ind Alco 70'/* RetaH Stores— Assoc Dry Gds 35% Glmbe! Bros 12% 1294 12% 11% Kresge S S 27% 27 27 26% Mav D Store... 46% 46*4 46*4 48% Mont Wrad.... 37% 36% 36% 36 Penny J C 5394 5394 5394 53 Schulte Ret St.. 7% 7 7 694 Sears Roe 72% 71% 71% 7394 Woolworth 5694 55% 55% 55% Amusements— Bruns Balke 16 1594 Col Graph .... 1994 1 9 19% 19% Crosley Radio 12 Eastman Kod ..208% 202'% 205 205% Fox Film A.... 4394 43% 43% 43 Grigsby Gru ... 18% 17*4 17*4 17*4 Loews Inc 6994 67% 6794 68*4 Param Fam .... 58 7 4 57% 57% 57% Radio Corp .... 39% 37% 37% 38% R-K-O 33% 32 32% 32% Schubert 16 14*/* 1494 14% Warner Bros .. 47% 45 45 46% Miscellaneous— Airway App 19% 20% City Ice & Fu 38*4 Congoleum 119* 11 % 1194 11% Amer Can 124 12194 122 12194 Cont Can 55% 54% 55*4 5494 Curtiss Wr 7% 7% 7% 7% Gillette SR 73% 73 7394 72

, ■. ■- THE INDIANAPOLIS TIMES

SWINE MARKET OFF 25 CENTS AT CITYYARDS Slaughter Class Cattle Dull at Week’s Downturn; Sheep Strong. June Bulk. Top. Receipts. 13. *10.30<?i10.35 $10.35 0,500 14. 10.35 10.40 3.500 16. 10.40 10.35 7.000 17. 10.00 10.00 8.000 18. 9.90 9.95 5.500 19. 10.00 10.10 5.000 20. 9.75 9.80 6,500 Hogs p.gain dropped fractionally at the stockyards, prices this morning ranging generally 25 cents under Thursday’s figures. The bulk, 160 to 300 pounds, sold for $9.75; top price paid was $9.80. Receipts were estimated at 6,500; holdovers were 1,009. In the cattle market slaughter classes were dull at the week's severe decline, receipts were 400. Vealers were steady at $lO down; calf receipts numbered 600. Sheep ware steady to higher, mostly $11.50 down with a top of sl2. Receipts were 1,100. Chicago hog receipts were 20,000, including 7,000 direct. Holdovers were 9,000.. Today’s market slow with bids about steady with Thursday’s average or 10 to 15 cents lower than early Thursday; 160 to 170-pound weights brought $9.55 to $9.75. Cattle receipts were 1,000; sheep, 6,000. —Hog*— Receipts. 6.500 market, lower. Heavies. 800 lbs. up $ 9.25(3! 9.65 250-300 lbs 9.75(3) 9.80 Med. wts.. 225-250 lbs 9.75® 9.30 200-225 lbs 9.75C5> 9.80 Light Wts.. 160-200 lbs 9.75® 9.80 130-160 lbs 9.50® He 90-130 lbs 8.50® 9.25 Packing sows B.oo® 9.00 Cattle ■ Receipts. 400; market, steady. Beef steers. 1,100-1,500 lbs. good and choice $10.00®12.00 Common and medium [email protected] Beef steers, 1,100 lbs. down, good and choice 9.75® 12.00 Common and medium [email protected] Heifers. 850 lbs. down, good and choice 8 -525 1 2'9S Common and medium 5.50® 8.50 Cows, good and choice 6.75® 8.00 Common and medium 6.75® 8.00 Lower (jitter and cutters 3.00@ 5.00 Stocker and feeder steers, good and choice B.oo® 9.50 Common and medium 6.00@ 8.00 —Vealers— Receipts. 600; market, steady. Medium and choice $ 7.50® 10.00 Cull and common 4.00® 7.50 —Sheep— Receipts. 1.100: market, steady. Lambs, good and choice $11.00012.00 Common and medium [email protected] Cull and common 1.50® 3.00 Ewes, medium to choice 3.00® 4.50

Other Livestock Bu United Pres* CHICAGO. June 20.—Hogs—Receipts. 20.000, including 7,000 direct; opened steady, later trade weak to 10c lower; slow at decline; top, $9.85; onyl occasional sales above $9.75: butchers, medium to choice, 250-350 lbs., $9.250.9.75; 200-250 lbs.. $9.4009.85: 160-200 lbs., $9.4009.85: 130-160 lbs.. $9.259.75; packing sows. $8 0-8.75; pigs, medium to choice 90-130 lbs., $8.50®9.60. Cattle—Receipts, 1.000; calves. 1,000; very narrow; slugish uneven trade, not much here; few loads strictly grain fed steers rating good and better steady, others on hit-and-miss basis: day’s top, $11.25; slaughter classes steers, good and Choice. 1.300-1.500 lbs., $10.25012.50; 1,200I. lbs.. [email protected]; 950-1.100 lbs.. slo@ 12.25; common and medium, 850 lbs. up. $7.25010.50; fed yearlings, good and choice. 750-950 lbs., $10012; heifers, good and choice. 850 lbs. down. $9.2510.50; common and medium, $6,259.25; cows, good and choice. $6.75@9: common and medium. $4.500 6.75; low cutter and cutter. $3.2504.50; bulls, good and choice beef, $6.500 8.25; cutter to meidum. $4.50 0 6.50: vealers. milk fed, good and choice. $9.50@ 11. medium. $909.50; cull and common, s6©9: Stockers and feeders, steers, good and choice, all weights. $90:10.50; common and medium. $6.500 9.25. Sheep— Receipts. 6,000; fat lambs, steady to weak; undergrades, weak to 25c lower: fatted native lambs. $12012.25: fat ewes mostly $303.50; lambs, good and choice. 92 lbs. down, $11,500.12.50: medium. $9011.50; cull and common. $709; ewes, medium to choice, 150 lbs. down, $203.75; cull and common. $102.75. Bu United Pres* EAST ST. LOUIS. 111., June 20.—Hoes— Receipts. 7,500: market, 15c lower than Thursday’s average; sows and pigs, 25c lower; bulk. 150-260 lbs., $9.60 09.70; top, $9.75; bulk sows. $8.50. Cattle —Receipts. 900. Calves —Receipts. 500; market, vealers steady at $9.50; other classes on a clean-up basis; a few cows. ss@6; low cutters around $3; medium bulls. $6 down; not enough steers or heifers worth mentioning. Sheep—Receipts. 2,508; market, steady; bulk fat lambs. $11011.25: choice graded lambs, $11.75; top, $5.50; fat ewes, $305. Bu Times Special LOUISVILLE. Ey.. June 20—Hogs—Receipts, 700; market, 10c lower; 250 lbs. up $9.15: 165-250 lbs., $9.75; 130-IGS lbs., $8.95; 130 lbs. down. $6.95; roughs. $6.40; stags, $5.80. Cattle—Receipts. 200; market, steady; prime heavy steers, $10011; heavy shipping steers, $8.50010: medium and plain steers, $7.50 0 8.50; fat heifers, $6.50010: good to choice cows. $64,7: medium to good cows, s4@6; cutters, $3.50 04: canne-s, $2,500 3; bulls. $4.500 6: feeders, $7.500 9; stockers. $5,50 0:7; calf receipts, 200; market, steady; tops. sßo’ 8.50: good to choice, $6.5008; medium to good. SSO 6.50: outs. $4.50 down. Sheep— Receipts.' 1.500; market lambs steady; sheep 50c lower ewe and wether lambs, $11: choice cur lambs $11.25011.50; buck lambs. $10; seconds. $7: clopped sheep, $2.500 3.50. Thursday’s shipments—Cattle, none; calves, 105: hogs, 138; sheep, 3,602. Bu t'nited Press PITTSBURG, June 30 —Hogs—Receipts. 1.000; market, steady with spots easier: bulk 150-210 lbs., $10.300 10.35; 220-260 lbs.. SIOO 10.25; 270-300 lbs.. $9.500 9.75; pigs. $9.750 10; sows. $8.250 8 50. Cattle— None; calves, receipts, 75; market, steady; good and choice vealers. (9.50010.50. Sheep—Receipts. 500: market, steady; fat lambs. $9011.50; yearlings, $608; aged wethers, $4.50 down. Bu United Press CINCINNATI, June 20.—Hogs—Receipts, 3.550 including 1,150 direct; 420 held over; moderately active on light and medium weight hogs; steady to mostly 10c lower; heavy butchers and sows slow. 150,35 c lower; bulk desirable 170-250 lbs., s9.ia® 10.05; mostly $10.05 on good and choice 170-230 lbs.; few outstanding loads, 170-200 lbs., $10.10; desirable. 120-160 lbs., $9.50 to mostly $9.75; sov/s mostly $8.25. Cattle —Receipts, 225; calves. 275; very slow, about steady: steers practically absent; lew odd lots of mixed yearlings and heifers, $7010; odd head above; most beef cow’s, $506; few kinds up to $6.50; lowcutters and cutters. $3 500 4; bulls, mostly $5,500 6.25 with best weighty kinds quotable up to $7; good and choice vealers. $8010; heavy and less desirable, down to $6. Sheep—Receipts, 1.200; generally steady on all classes with undergrade lambs slow: sheep in very little demand; good and choice lambs. $10011; common and medium. $7 0 8.50; buck lambs up to $9: few- ewes $2.5003; best lightweights, quotable up to $3.50. Bu United Press EAST BUFFALO N. Y-. June 20.—Hogs —Receipts. 2,300; holdovers, 500; market, generally 15c lower; packing sows steady; Bulk 160-240 lbs., $10.25(5 10.35; 240-230 lbs.. $10010.25; most pigs and light lights around $10; sows. $6.2508.75. Cattle— Receipts, 175; market, slow; undertone weak; cows and bulls about steady with Thursday's average bidding lower on steers and with average 25® 50c under Monday: odd lots good cows up to $8; bulk iat kinds, $607; cutter graces, $3.50 0 5.50. Calves—Receipts, 900: market generally 50c lower: good to choice vealers. (11011.50; medium and plainer grades, $8 010. Shsep—Receipts. 1.000; market, active; good to choice lambs, 25050 c higher; mostly $12.75013: 75-81 lb. weights, medium kinds. slOOll- common, sß®9; fat ewes, steady at $303.50. Bu United Press TOLEDO, O. June 20.—Hogs—Receipts, 300; market. 15025 c lower; heavies. $9.25 0 9.50; mediums. $9.50 0 9.65; yorkers, $9.25 @9.50; pigs. $909.50. Cattle—Receipts, light: market, slow. Calves—Receipts, light; market, lower. Sheep—Receipts light; market, steady. Marriage Licenses Laurence V. White. 26. of 342 Congress, clerk, and Clara Min.iich. 24. of 5721 Madison, stenographer. Lloyd T. Howard. 21. of 2530 East St. Clair, knitter, and Marjorie M. Shone. 18. of 1370 Ewing John Fox. 76. of 1733 North Meridian, retired, and Marie T. Bush. 46. of 1510 North Illinois. J. Ed Burke. 47. of 2033 Hoyt, manager, rnd Emma A. Bottler. 37. of 1206 South State. Robert E. Rowe. 21. of 881 Fletcher, clerk, and Helen Friedman. 20. of 2613 Brookway. inspector.

Dow-Jones Summary

Oklahoma oil operators PP™J e P r ( ?- r ( f* tion program to hold production at 650.000 barrels daily during third quarter of 1930. Foreign copper sales Thursdav came to 10.000.000 pounds at 13. 30c C 1 P Hamburg Hacre and London. Largest day s sales since middle of May. Michigan Steel Corporation declared extra dividend of 1 per cent in stock, payable Oct. 20, record Sept. 30, and regular quarterly dividend of 62% cents payable July 31, record June 30. Calumet and Arizona Mining Company will suspend operations of its bleaching and electrolytic plants at the new Cornelio mine division at AJo Arizona in an *-Jort to secure more economical operation during present depressed conditions of copper metal market. City Machine and Tool declared regular quarterly dividend of 40 cents on common payable July 1. record June 20. Thatcher Manufacturing Company declared regular quarterly dividends of 40 cents on common payable July 1. record June 20. and 90 cents on convertible preference payable Aug. 15, record Aug. 5. Arundel Corporation In five ended May 31. 1930. earned $1.73 on 492 500 no-oar shares against $1.25 in same 1929 period. Bituminous coal loaded at Lake Erie ports in week ended June 16, totaled 1.357,522 tons against 1,214,536 in like 1929 week. For season to date 10,922,966 tons against 10,827,106 in like 1929 period and 7,957,169 in 1928 period. City Investing Company declared a dividend of $2.50 on common same as year ago payable July 7. record June 30. Regular quarterly of $1.75 on preferred also declared payable July 1. record June 26. Chicago surface lines share of May income after expenses taxes and other charges, $133,100 against $204,819 in May, 1929. Brazilian Traction Light and Power Company subs may net income alter expenses, but before depreciation and amortization $2,517,502 against $2.415,18i in May, 1929. Swift & Cos. received refund in taxes over assessed in 1918, which with Interest. amounts to about $7,000,000 according to bureau of Internal revenue. Libby McNeill & Llbbv and affiliated companies awarded $3,700,000. Bancamerica-Blair Corporation elected L. A. Woolams formerly vice-president of California Packing Corporation a director. Dally average volume of federal reserve bank credit outstanding during week-ended June 18, was $1,006,000,000 an increase of $12,000,000 over previous week, but decrease of $275,000,000 from like week of 1929. Leading dealers reduced bid and asked rates on bankers acceptance % of 1 per cent for all maturities to 2 1-842, per cent and 30-60-90-dav maturities 2 l-4a2 %S for 120 davs and 2%a2 % per cent for 150 180 days. Brokers loans decreased $211,000,000 in week to $3,787,000,000 federal red system ratio 83.3 per cent against 83.0 per cent week ago. and 75.8 per cent vear ago. New York ratio 85,9 per cent against 85.7 per cent and 81.1 per cent respectively. New' York rediscount rate reduced to 2% per cent from 3 per cent. Trustees of estate of John A. Sutton minority stockholders in American Telegraph and Cable Company filed suit in supreme court New York county asking sales of company to Western Union be set aside and Western Union ordered to turn oyer ail of cable company’s property or full value to receiver to be appointed by court. Also asked dissolution of cable company be enjoined. Alleged consideration of $2,030,000, which Western Union is to pay for property is "grossly inadequate” and that sale "constitutes an attempted fraud on minority stockholders.” May gross of Illinois Central system was about $12,800,000 against $14,623,413 in May. 1929. Road continued to cut operating expenses sharply in line with reduced revenues and net operating income for month Is estimated about $1,380,000 against $1,779,881 in mav last year. This indicates a decrease in net of less than $400,000 against a gross decrease of around $1,800,000. Dive months' gross with May estimated was something over $66,000,000 against $74,749,790 in similar 1929 period. Five months net operating income was about $8,240,000 against $11,362,428 a year ago.

Banks and Exchange

INDIANAPOLIS STATEMENT Ir fianapolis bank clearings Friday June 20, $3,352,000; debits. $7,084,000. CHICAGO STATEMENT Bu United Press CHICAGO, June 20.—Bank clearings $103,000,000; balances. $12,900,000. NEW YORK STATEMENT* By United Press NEW YORK, June 20.—Bank clearings. $1,636,000,000; clearing house balance. $229,000,000: Federal Reserve bank credit balance $204,000,000. TREASURY STATEMENT By United Press WASHINGTON. June 20.—Treasury net balance on June 18 was $303,866,889.01 • customs receipts for the month to that date totalled $46,440,443.40: government receipts on June 18, were $29,866,682.41. Births Boys Thomas and Margaret Worthington, 714 Highland. Walter and Nellie Roberts, 1626 East Eighteenth. Harry and Verna Finley. 1501 Spann. Mack and Alberta Jefferson. 941 Hosbrook. Delbert and Dorothy Wilson, 5235 Carrollton. William and Audra Wysong. 5719 Rawles. Joseph and Emma Wooten, 225 East MeCartv. Lee and Helen White, Methodist hospital. Harry and Helen Mockford, Methodist hospital. Girls George and Melba Hobson 5687 Broadway. Walter and Myrtle Prentice, 1726 South Talbott. Thomas ana Ruth Donahue. 240 McKim. Edgar and Lola Lindsay. Methodist hospital. Paul and Grace Davis, Methodist hospital. Robert and Juanita Hollowell. Methodist hospital. Harold and Ruth Francis. Methodist hospital. Death® Gabriel Slutzkv. 44, St. Vincent’s hospital. septicaemia. Earl Webster. 19 city hcspital. accidental. William H. Bower, 74. English hotel, chronic myocarditis. Anthony Hahn, 80. city hospital, broncho pneumonia. Catherine Kelly. 50, 238 North Richland, chronic myocarditis. Dolly Jones. d 5. 931 1 /* North Alabama, acute dilation V heart. Infant Miles. 3 hours 336 South Addison, premature birth. Mary A. Kennedy. 64, 533 Highland, myocarditis. Francis Marion Long. 59. 3449 East Thirtieth, cerebral hemorrhage. William Williams. 80. city hospital, chronic myocarditis. Mary E. Thomas. 8. 2635 East Tenth, accidental. Russell Grenard 22. 866 Udell, accidental Building Permits Charles Sowden, reroof, 2144 College. S3OO. American Centra! Life Insurance Com&anv. building. Meridian and Fall Creek ule.vard. $600.0-'O. Plymouth Savings and Loan, repairs. 3009 North Gale. SBCO. John Cunroe. garage. 472 North Randolph. $235. Dollie Sheppard, repairs. 1309 East Elevenh. $250. B. C. Pottage, garage. 2419 Ashland. S2OO. Henry Knue. filling station. Fifty-sec-ond and College. $12,000. A. J. Hueber Company, remodel. 144 North Delaware. $3.50.. All Souls Unitarian church. remodel. 1455 North Alabama. $15,000. George Fassold. repairs. 2233 East Tenth. S2OO. Willi ;.~i Zimmerman, reroof, 1708 Madison. *IOC. Coca-Cola Bottling Company, garage. 920 Ashland. $23,000. R. V. Glidden. dwelling and garage, 5140 Wlnthrop. $8,300. Kail Gossert. gara-e. 930 South Delaware. $2,000. Kail Gossert. repai-s. 940 South Delaware, $2,000. Joseph P. Bauer, garage. 1233 Bridges. $261. Ralph N. Spann, reroof. 2829 North Meridian. $393. NEW YORK COFFEE RANGE High. Low. Close. March 7.01 6.92 6.9$ May 6.96 6.90 6.90 July 7.89 7.50 7.54 September V4B 7.35 7.38 December T.lO 7.16

STOCKS DECLINE AFTER RALLY IN OPENINGJRADES Salea Volume Falls as Bear Influence Gains Control of Market.

Average Stock Prices

Average of thirty Industrials for Thursday 288.97, up 19.13. Average of twenty rails was 131.21, up 2.24. Average of twenty utilities was 83.80. up 4.30. Average of forty bonds was 95.15, off .01. By United Press NEW YORK, June 20.—The majority of stocks on the New York Stock Exchange declined below the previous close before noon, after rising substantially at the opening and in the first fifteen minutes or so of trading. Dealings fell off in volume and tickers were only a few minutes behind the actual market. Heaviest losses occurred in the second hour, but near its end some rallying tendencies were noted. Steel, which had reached 162*4, fell to 159%, but at 11:50 it was back to 160%, where it was off ;s. Westinghouse Electric touched 142%, but near noon was down to 137, where it was off 3%. J. I. Case dropped from 192 to 184, the latter off a point net. Loans Decline Worthington Pump dropped nearly 7 points from its high of 132% to 126, where it was off 1. General Electric ranged between 73 and 70%, rallying fractionally. American Telephone had a three-point range, selling down to 208*4, off % net. Standard of New Jersey dipped from 66*i to 65, off 1!4 and then firmed up slightly. Initial gains were induced by the surprise vote of the federal reserve to reduce the rediscount rate at New York to 2% per cent, and a decline of $211,000,000 in brokerage loans for the week ended Wednesday. Many traders anticipated a bulge at the opening and placed orders to sell their holdings on which they had run up a profit Wednesday when the initial buying subside J bears again took the helm. New Lines Placed They placed new short lines in many instances and tried to bring about a general reaction by leveling their guns against United States Steel. The latter, after a brief period of strength at 11:50, dipped below its morning low and a few minutes after 12 was selling below 159, Bears argued that the cut in the rediscount rate came about through a glut of funds brought on by business depression. They also were influenced by failure of leading commodities to make any more than nominal gains at the opening. Wheat opened steady, only fractionally changed and then dropped sharply. Cotton opened higher, advanced and then eased from highs. Call money renewed at 2% per cent, but the supply of funds was not considered sufficient to cut this rate.

In the Stock Market

(By Thomson & McKinnon) NEW YORK, June 20.—Reducing the rediscount rate to the lowest in it's history, the federal reserve system further extends its facilities to' co-operate with constructive forces. There are those of skeptic nature who will say the move is a gesture to bolster confidence and an admission of very poor business. Leading bankers, however, contend the depressed state of business is no secret and already well known and has been recently, if anything, over emphasized rather than minimized. There can be no argument that open money rates justified the reduction. The bond market has for some time puzzled the financial community and it is felt the assurance of cheap money for sometime to come, which the reserve bank rate cut gives, will now greatly revive activity in the bond market. A strong bond market is held by man;- banking minds to be one of the first and necessary requisites of business recovery. In addition to relieving the bond counter, low interest rates will stimulate commodity purchases and promote building activity, all of which will pave the way for general trade revival. We believe a long list of good stocks offer attractive investments.

Produce Markets

Eggs (Country Run I —Loss off deliverd In Indianapolis. 19c: henery duality. No. 1 21c: No. 2. 16c. Poultry (buying prices—Hens, weighing 4*4 lbs. or over. 17c: under 4ft lbs.. 20c; Leghorn hens. 14c; springers. 2'/* lbs. or over. 27c; under 2'/* lbs.. 25c; Leghorn springers. 18019 c: old cocks. 9@loc; ducks, full feathered, fat whites. 9c: geese. Bc. These prices are for No. 1 top duality uuoted bv Kingan Ac Cos. . . Butter (wholesale) —No. 1. 35@36c: No. 1. 330 34c. Ch^-se* at 7whoiesale selling price per pound)—American loaf. 31c: pimento loaf. 32c- Wisconsin firsts. 27c: Lognhorns. 34c; New York Limberger. 36c, By United Press CHICAGO. June 20.—Eggs, market unsettled; receipts 22,769 cases; extra firsts. 23Vic: firsts. 2214 023 c; current receipts, 21022 c; ordinaries 18ft® 19c; seconds, 19c. Butter —Market, unsettled; receipts. 19,102 tubs: extras. 32c: extra, 32ftc. PoultryMarket, easier: receipts 1 car; fowls. 19® 20c; springers. 30c; Leghorns, 15c; ducks. 14c: geese. 12c; Turkeys, 18c: roosters. 14c; broilers. 22c. Cheese—Twins. 16'/*® 17c; Young Americas. 18c. Potatoes—On track. 136; arriuals. 74; shipments, 940; market, steady; southern sacked bliss triumphs $2.7503.15; North Carolina barrels, Irish cobblers. $5. Bu United Press NEW YORK, June 20.—Flour—Quiet and steady; spring patents. $5.350 5.75. PorkQuiet; mess. $32. Lard—Steady; middle west spot. $9.8509.95. Tailow—Dull: special to extra. 4*<@sc. Potatoes—Quiet and steady; southern. $2J5®5: Maine, S3O 4.10. Sweet potatoes—Steady; Jersey, basket.. [email protected]. Dressed poultry—Quiet; turkevs. 250 43c; chickens. 17@29c: fowls. 14® 26c; ducks. Long Island. . 19c. Live poultry—Steady to firm; geese. 110 14c: ducks. 140 23c: fowls. 20®24c; turkeys. IS 25c: roosters, 15@17c: broilers, 17042 c. Cheese —Quiet: state whole milk, fancy to special. 2426 c; young America, 18ft@25c. Bu United Press CINCINNATI. June 20.—Butter—Steady; creamery in tub lots, according to score. 30®33c; common score discounted. 2®3c; packing stock No. 1. 25c; No. 2. 15c; No. 3.12 c: butterfat. 28@30c. Eegs—Steady; cases included: fresh gathered. 2?ftc: firsts, 21c; seconds. 19c: nearby ungraded. 22'ic. Live poultry—Thin and coarse stock sells only at heavy discount: low-ls. 5 lbs. and over. 19c; 4 lbs, and over, 19e: 3 lbs. %nd over. 19r; Leghorns. 3 lbs. and over. 14c; roosters. 13c: broilers, colored .over 2 lbs.. 23c; broiler* over 16 lbs.. 27c; I*4 lbs. and over. 24c: Leghorn and Orpington broilers over. 16 lbs.. 22c: 1H lbs. and over. 19c: broilers, partly feathered, 12015 c: black springers, 20c. Bu United Press CLEVELAND. June 20— Butter—Steady; extras. 36c: extra firsts. 36c. Eggs—Steady; extras. 23c; firsts. 22c. Poultry—Slow; fowls. 23--/24c: medium. 23®24c: Leghorn. 15@20c: heaw soringers. 30®35c: Leghorn springers. 180 23c; ducks. 12® 30c: old cock*. 12@14c: geese. 10® 15c. Potatoes— Maine Green Mt.. $4.25 per 150-lb. tack; Idaho Russet. *4.50 per 150-lb. sack.

Business — and — Finance

McKesson & Robbins. Inc., the largest wholesale drug houst in the country reDorts for the first four months of 1930 cross sales totaling 847.657.893. as comcared with $46,904,223 In the corresponding period of 1929. The sales of eight minor subsidiary companies are not Included in the 1930 total because figures for these companies for the 1929 period were not available. Eastern Minnesota Power Corporation, a subsidiary of Peoples Light and Power Corporation, reports gross revenues of $299,969 for the yesr ended April 30. 1930, as compared with $272,809 for the preceding twelve months, dperating expenses. maintenance and taxes, other than Federal income tax, totaled $184,352, as against $152,133. Gross income amounted to $145,617. which compares with $120,676 for the year ended April 30. 1929. The Fidelity Investment Association, the largest Institution in the country devoted exclusively to the sale of annuities. reports sales for May of $3,946,000. establishing anew monthly record. This compares with $3,074 000 for Maj% 1929, an increase of $872,000. Sales for the five months of the current year totaled $lB,872.000 compared With $12,760,000 for the corresponding period of las' year, a gain of $6,112,000. SAN FRANCISCXJ, Cal.. June 20—More than $6,000,000 of the $15,000,000 appropriated by the Central Public Service Corporation for new construction in 1930 will be spent on the Pacific cohst, according to Franklin T. Grlfluh. presidrmt of the Pacific Northwest Public Servile Company, subsidiary of Central Public Service. Griffith Is here with D. C. McClure of Chicago, operating vice-president of the system. Directors of Municipal Telephone and Utilities Company have the regular quarterly dividends of 21Tke a shares on the Class A common stock and tie a share on the 7 % cumulative preferred stock, both payabio July 1, to stockholders of record June 30. Employes of General Foods Corporation and subsidiaries who were ineligible to participate in the third employees’ stock purchase plan in 1928 are given an opportunity to subscribe for the company's stock at SSO per share, according to an announcement just issued to the employes by C. M. Chester Jr., president. Cairo Water Company, a subsidiary of of Community Water Service Company, reports gross revenue of 92.036 for twelve months ended April 30. 1930. After operating expenses.) maintenance and taxes, excluding federal income tax. there remained a balance of $41,768. equivalent of 2.32 times annual interest requirements on the company’s funded debt.

The City in Brief

SATURDAY EVENTS Bela Theta FI luncheon. Board of Trade. Sigma Alpha Epsilon luncheon,-Cham-ber of Commerce. Phi Delta Theta luncheon, Chamber of Commerce. Master Painters’ Association luncheon. Elks Club. Indianapolis Round Table luncheon, Lincoln. Delta Tau Delta luncheon, Columbia Club. Reserve Officers’ Association luncheon, Board of Trade. Delta Chi luncheon. Spink-Arms, Indiana Christian Endeavor convention Central Christian church. Arrangements for the Indianapolis Federation of Community Civic Clubs banquet, to be h dd at the Chamber of Commerce building next Friday night, are being made by the committee including E. O. Snethen, chairman; A. Leroy Fortteus, Oscar F. Smith, Mrs. Mary E. Koss Dennis, Miss Pearl Randal and Mrs. B. B. McDonald, secretary and treasurer. Three members of the Dr. O. W. Worthington chapter of Disabled American Veterans of the World War will attend the national convention of the order in New Orleans, La., next week. The delegates are Henry G. Kline, adjutant; Anthony P. Lang and Charles S. Kemp. The Rev. A. W. Miller, Indianapolis evangelist, will speak at. the Wheeler City Rescuie Mission at 7:45 tonight. Saturday night, a song and praise service will be held at the mission, led by Mrs. Mary Knode. Sixty employes of the Indianapolis Life Insurance Company held a picnic Thursday afternoon at Horseshoe lodge, near Noblesville, to celebrate the attainment of SIOO,000,000 worth of life insurance in force. Employes of the Prest-O-Lite Company of Indianapolis and their families held a picnic in Forest park, near Noblesville, Thursday afternoon. The afternoon was spent playing baseball, horseshoes, croquet and golf. Taking several poison tablets in an attempt to end his life Thursday night, Guy Foster, 36, of 1129 River avenue, was in a critical condition at city hospital- today. No motive for his act was learned. Clifford L. Harrod, general manager of the Indianapolis Power and Light Company was elected an honorary member of the board of directors Thursday. Harrod served three years as Chamber of Commerce industrial commissioner before he was selected recently as manager of the light company. L. N. Helm, commercial agent, and S. B. Adams, traveling passenger agent of the Norfolk & Western Railway Company, will attend the sixteenth annual traffic department reunion of the Norfolk road and the Winston-Salem southbound railways at Virginia Beach, Norfolk. Va., June 24 and 25. Six ’hundred students have enrolled in the Butler university summer school, Miss Sarah Cotton, registrar, announced today. Instruction will continue for eight weeks, the session closing Aug. 9. Frederick L. Kirgis, 3351 North New Jersey street, was ons of eight University of Illinois students to receive scholarships for hext year in the College of Law, university officials announced today. Daily service in both directions between Chicago, Indianapolis, Cinnati and Louisville to resorts in Northern Michigan will be started Sunday by the Pennsylvania railroad. The service will continue until Sept. 27. Indianapolis Federation of Community Civic Clubs will held a banquet at the Chamber of Commerce next Friday night. Mayor Reginald H. Sullivan and other city officials will be special guests. Philco dealers will meet tonight under auspices of the Wagner Radio Company for the annual convention. Harry Eoyd Brown, merchandising expert for the Philco company, came here today from Chicago to address the dealers. He will leave here for Cincinnati to attend a meeting there.

we Commonwealth Loan Cos. Offer „ PI4 JffiL

BILL PRESAGES SEHATEJATTLE Conflicting Reports Indicate Heated Battle Looms Over Injunctions. BY NATHAN ROBERTSON United Pres* Stiff Correspondent WASHINGTON, June 20. —An issue which prom, es to play a prominent part in thz forthcoming elections, was raised in the senate today when its judiciary committee submitted opposing reports on the bill to limit the use of. injunctions In labor disputes. ” The bill involves what some senators call the issue between “human and property rights," which figured so prominently during the debates over President Hoover's nominations of Charles Evans Hughes and John J. Parker to the supreme court. Advocated by Minority Two reports were submitted. One was a majority report opposing the bill'and the other a minority report, signed by seven of the committee’s seventeen members, vigorously advocating it. The bill would, limit the issuance by federal courts of injunctions in labor disputes, except when the disputes involved violence, fraud or threats. Even then injunctions could be issued only when all other means of lawful restrain had been exhausted. The bill would also outlaw “yellow dog” labor contracts and declare the public policy as favoring collective bargaining by employes. Limitation Is Necessary Chairman Norris of the judiciary committee submitted the minority report. It declared "public sentiment has reached the. conclusion that some such limitation on injunctions is -necessary.” The majority report, submitted by Senator Steiwer (Rep., Ore.), said substantial progress has been made in relations between employers and employes with the last ten years and that, therefore, "so far as abuse of injunction is concerned there is less compelling reason for the enactment of federal legislation than formerly existed.”’

Indianapolis Stocks

—July 20— Bid. Ask. Amer Ontral Life IPs C0....1.000 •Bolt R R Ac Yds Cos com 59 63 •Belt R R Ac S Yds Cos pfd.. 56 60 Bobbs-Merrill Cos 30 33 V 4 Central Ind. Pow Cos pfd. .. 89 93 •Circle Theater Cos com ....105 Citizens Gas 27 ... Citizens Gas nfd !)6',i, 100'i Commonwealth LCopt 7% ... 97 102 •Commonwealth L Cos pf 8G,.. 03 •Hook Drug Cos com new . 23*:i 26 Ind Hotel Cos Ciaypool com.. 125 Indiana Hotel Cos pref 101 105 Indiana Service Corn pref 86 •Indianapolis Gss Cos common: 56 61 •Indpls Power &Lt Cos pfd... .102*4 105’A Indpls Pub Wev Loan As com.. 53 fndpls St Ry Cos pfd ..... U>*i ... Indianapolis Water Cos ptd ... 89 •Interstate U S Cos pr 6 <;s L pf 89 93 International Pub Serv 7% ...,102ft: 104 •Northern Ind Pub 7% co pfd. . 107 Metro Loan Cos 99 •Northern Ind P5Va % co pfd.. 91',* ... •Northern Ind Pub 6% co pfd. 99 102'/* •Progress Laundry Cos com... 45 47'/* S Rauh Ac Sons Fer Cos pfd..-. Real Silk Hosiery M Inc pfd.. 96 ... Shareholders Investors Cos ... 23' * ... Standard Oil Cos of Ind ...... 5014 • T H I 4 E nfd 10 Terre Haute Trac L Cos pfd... 79 '... Union Title Cos common 4314 ... Van Camp Prod Cos Ist pfd. .. 98 Van Camp Prod Cos 2nd pfd. .. 98 •Ex-Dividend. —Bonds— Belt R R & Stock Cos 5s 91 ... Broad Ripple 32 Central Indiana Gas Cos 5s 9914 Central-Ind Power Cos 6s , 98V* ... Citizens Gas Cos 5s 101 102 Citizens Street Railroad 55.... 42 48 Gary St R.v Ist 5s 65 Home T Ac T of Ft Wayne 65.101*4 Ind Northern Trac Cos 3ft sft Ind Rv Ac Light Cos 6s 96 Indiana Service Corpn 5s 88 Indpls Power Ac Light Cos 53..100ft 101 Indiana Union Trac Cos ss. .. 7 Indpls Col Ac Trac Cos 6s ■ 9214 94 Indianapolis Gas Cos .53 100 Indols Mart Rapid T Cos ss. .. Indp’s No Trac Cos 5s 11 .... Indpls North Western Cos .... 1014 Indpls Street Rv 4s ' 29 30 Indpls Trac Ter Cos 6s 8014 ... Indpls Union Rv 6s 100*-4 ... Indpls Water Cos 5'2S 102'4 ... Indpls Water Cos 55... 97*4 ... Indpls Water Cos lie Ac ref 93 Indpls Water 4'*s 9314 ...- Indpls Water W Sec Cos 55.... 88*4 ... Iterstate Pub Serv Cos 4'As .... 91'4 Interstate Pub Scr-Co 5s 98 Interstate Pub Serv efts 103 No Ind Pub Serv Cos 5s 101'/* No Ind Telegraph Cos 6s . ... 971* 100 T H Ind Ac East Trac Cos 55.. 64 T H Tree Light Cos 5s Union Trac of Ind Cos 6s 19 24

New York Bank Stocks

—June 19— Bid." nsje. America .... 101 103 Bank of United States ... 44Vi *3 ft Bankers .. :. *.. 131 - 133 Brooklyn Trust 705 710 Central Hi-nover .... 332 338 Chase National . ..' 1351* 137 Chatham Phoenix Nall ... 165 107 Chemical 61'/* 83 City National 146'/* 148 Corn Exchange 177 179 Commercial 415 430 continental 24 23 Empire 72 75 I First National :..: .4.700 4,859 Guarahtv 635 640 I Irvine . 'A'i 4-ug Manhattan At Cos 100 111 / Manufacturers 103 104 ft New York Trust 232 23 Public 101 162'/, Chelsea ~ '. 37 42

Investment Trusts

/Bv James T- Hsmlll AS Cos.) . 1 —June 29 Bade Industry SMres 7** B*4 Corparzte Trust Shares Bft 0 7 * Diversified Trust Shares A... 21*4 ... Diversified Trust Soares B ... 18ft 16ft Diversified Trust Shares 0... 7*4 Bft Nationwide B*eurit‘es Bft 9ft Fixed Trust Shares A 130 ... Fixed Trust Shares 8,. Oft 10>* Investment Trust of New York 10V* lift Leaders ctf Industry B*4 9'* Standard Oil Trust Shares 9*4 .6*4 S. W Strauss Inv. Units.... 47 58 Selected After Shares • ' 7*i Trustee Standard Oil Shares B I>% g/t, U. 8. Elec. & Power Shares A 36V® 3f,' , U. S. Elec. Ac Power Shares 8.. 10 10*

Local Wagon Wheat

City grain elevators are paying 85e for Nr. 2 red wheat and 83c far No. 2 bard wh+p?

James T. Hamill & Company BROKERS Indianapolis MEMBERS CblcSgo Stoek Exchange Chicago Doa.rd of Trade Indianapolis Joard of Trade Associated Jew York Curb 203 Continental Bank Bldg. Tel.. Riley 5403—Riley 511(4