Indianapolis Times, Volume 42, Number 69, Indianapolis, Marion County, 30 July 1930 — Page 12

PAGE 12

HEAVY SELLING FORCES STOCK SHARES LOWER Efforts to Strengthen List Fail; Weak Spots in Evidence.

Average Stock Prices

Averef of thirty indurtrlals for Tuesday was 236.40. ofl 2.41. Average of twenty rails was 132.48. off 1.89. Average of twenty utilities was 88 80. uo .IS Average of forty bonds was 95 97. uo .08. Bv United NEW YORK. July 30—Stocks broke 1 to 6 points in the first part of the session today after valiant efforts to bring a rise with United States Steel as the leader. Selling gathered momentum as the session progressed and traders with profit in various issues were quick to unload to realize it. Several weak spots developed. Warner Brothers Pictures again was forced down to anew low for the year, touching 3714, where it was off 2 points from the previous close and off 42’i from the high of the year of 80’4. Rails Decline Cotton and wheat made new seasonal lows and com eased off, but July com was still above July wheat." Sugar made new lows for all time. Rails, led by Southern Railway, which made anew low since 1923 at 86. off 2%. were still declining. Utilities lost fractions to 3 points and leading industrials and special issues were all lower. Safeway Stores continued under pressure, touching anew low for the year at 59*i, off 2'4. Selling in the latter issue progressed despite a reassuring statement from the company’s Los Angeles office indicating that the dividend would be kept at the present rate. Steel a Feature Untcd States Steel was a feature of strength in early dealings, rising to 169 after a firm opening. The issue met support following publication of its earnings statement for

CAMPBELL and COMPANY BONDS and STOCKS Trustee Standard Oil Shares lil* Fletcher Tro*t Bid*. KI. 1891

...If you desire to buy stock in the best Public Utility Company in which of the following would you invest? American Gas & Electric Company % American Light & Traction Company American Power 8* Light Company P American Superpower Corporation American Telephone & Telegraph "Company f American Water Works 8s Electric Company, Inc. The Brooklyn Union Gas Company Columbia Gas 8s Electric Corporation Commonwealth Edison Company Consolidated Gas, Electric Light 8s Power Cos., of Baltimore Consolidated Gas Company of New York The Detroit Edison Company f Duke Power Company The Edison Electric Illuminating Company of Boston | Electric Bond 8s Share Company Electric Power 8s Light Corporation * Engineers Public Service Company Federal Light 8s Traction Company The Hartford Electric Light Company \ International Hydro-Electric System 15 Lone Star Gas Corporation Long Island Lighting Company ' Middle West Utilities Company Montreal Light, Heat 8s Power Consolidated Mountain States Telephone 8s Telegraph Company National Power 8s Light Company Niagara Hudson Power Corporation \ The North American Company Pacific Gas 8s Electric Company Pacific Lighting Corporation Pennsylvania Water 8s Power Company The Peoples Gas. Light 8s Coke Company Public Service Corporation of New Jersey Public Service Company of Northern Illinois Shawinigan Water & Power Company Southern California Edison Company Standard Gas 8s Electric Company The United Corporation The United Gas Improvement Company United Illuminating Company (New Haven) United Light and Power Company Utilities Power 8s Light Corporation Western Massachusetts Companies USELPS (United States Electric Light and Power Shares Inc., Trust Certificates Series B) represent an undivided interest in a trust fund composed of common or participating stocks of the companies listed above. These companies, directly or through subsidiaries, serve over two hundred of the largest cities in the United States, operate in every state in the Union, and generate or sell over 80 % of the nation’s electric energy. • Complete details upon request * • Fletcher American Company

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New York Stocks " <Bt Thomson & McKinnoni

-July M prey Railroad.— High- LOW- H:JO. ClOtt< AtchUon . ♦ I Balt < dS*O t ht<^ n ?”lCß 105% 105*4 106'i Chesa Ac Ohio !*•'* Chi Ort West tOH Chi N West ,25 V* C R I & 102 Et I .* a* •&* •% ‘sl* Guff Mob’s- Oli: ’/• mmols Central 119 % Kan City So 3' MK & T 41% 40v. 41 40% Mo Pacific pftl.. 123 122% 122'a 123% N V Central 165 164 Nickel Plate 108% ... NY NH & H 07% 108 T j 106% 107% Norfolk Si West 227 Pere Marq 130 Pennsylvania 76 16 So Pacific 118'* 11*’. 11*'. 118 Southern Rv .... 88S 86V. 86 B9_* St Paul - 14*. St Paul pfd .... 23*'. 23’. 23% 23*. St L Si S F.... 89’* 89 89 ... Union Pacific 21% 213 Wabash 35% W Maryland... 23 V. 23 23’* 25 Eqaipmenta— Am Car St Fdy *9 Vs Am Locomotive J3% Am Steel Fd •• 39% Am Air Brake S 44 ... Gen Am Tank.. .. ... 88% 8i General Elec .. 72% 71% 71% i2*. Gen Ry Signal ... ■■■ / *O% Lima Loco 25 24 25 N Y Air Brake 39% Press Stl Car 7, Pullman 69/. ‘O% Westingh Air 8.. ... ••• , “f,? Westingh Elec ..150% ill's 148% 148 1 Robbers— Firestone 2 2!? Fisk 2 ’/* 2 % Goodrich ■- . -- Goodyear 60% 65 65 65 Kelly Sprgfld 3% Lee Rubber ,2. U S Rubber 22 '■ Motors— . Auburn • 1 22 I“*,, Chrysler 30va 39% 30 30 . Graham Paige.. .. ... • ••_, 6* General Motors. 47% 46% <6% * 2 % Hudson 33 Nash • "6/4 Packard 15'/* IS 2 IS 4 Reo - ... v 9!a 972 Studebaker 314a 31J 2 Yellow Truck .. 26-'. 25 26‘/4 26*. Motor Access— Am Bosch ••• 35/ Bendix Aviation. %v 32% 32% 33 Borg Warner ... . • • 30 Briggs 24% 23% 23% 24 Eaton .1 24% 23% 23% 25 El Storage B 64% Hayes Body “ Houda • I* Motor Wheel ... .. , ... 24% 24% Sparks W 33% 23% 23% 23% Stewart Warner 27% the second quarter which was in line with expectations. The rise did not hold, however, and around noon Steel was blown down to 166%, off ?4. J. I. Case dipped VA to 185%, but regained 3 points of the loss around noon. A. M. Byers lost 5% to 69’/a, Vanadium 3’,4 to 100%, American Can 2 to 130%, Dupont 3% to 113%, Westinghouse Electric 3% to 145, Worthington Pump 6% to 124 >4 and Air Reduction 2% to 115%. General Motors, one of Tuesday’s favorites, was forced down 1% points and other motor shares eased off with it. Chrysler declined to 29%, off a point. Call money held at 2 per cent.

Timkln Roll .... 68% 66% 67 65% Mining— Am Metals 32% 32% 32% 32V. Am Smelt ... . 66% 68% 68% 68% Am Zinc. 10% Anaconda Cop . 50% 50% 50% 50% Cal & Hecla 15V* Cerro de Pasco 52% 52 L - Freeport Texas 45 ; 45% Granbv Corp 24% 24% 24% 25 Oreene Can ... 65% Int Nickel 24% 23% 24 24% Inspiration ..... 16% Kennecott Cop.. 40% 39*. 40 39% Miami Copper 17 16% Nev Cons .. ••• 17 17 Texas Gul Sul.. 59% 59% 59% 59% U S Smelt 21% 21 Oil.— Amerada .. ... ••• , 24 At! Refining 33 37% 37% ... Barnsdall ... 23% 23% Houston 88 88% 8< 86% Ind Oil 22% Indian Reflnnig 13% ... Lago OH ... .... 29% Mex Seaboard... 23% 23% 24’% 23% Mid Conti 24 Pan-Amer <B>.. .. ... , ... 59% Phillips 33% 33% 33% 33% Pr Oil At Gas 37 Pure Oil 21% Richfield ... ... 17% Royal Dutch .... 62 51% 52 53% Shell Un .... ... 19% Sinclair 24% 24% 24% 24% Skellv ... 3i Standard of Cal 62% 62% Standard of NJ 74 73% 73% 73% Standard of N Y 32% 32% 32% 32% Texas Cos 52 % 52% Union Oil 41 Steels— Am Roll Mills 66’/. Bethlehem 85-/* 82% 82% 83 Byers AM 73% 74% 74% 75 Colo Fuel 53% 53 53 Cruc Steel 78 Ludlum 26% 27 Midland 31% ... Repub ISi S 40% 46% 46% 48% U S steel ;F3 167% 167% 167% Vanadium 105% 103% 103% 103% Youngst S Si T.. .. ... 115 Tobaccos— Am Sumatra ..... 10% Am Tobacco (A) 241% Am Tob IB* . 245% 245% 245% 246% General Cigar .. 15 44% 44% ... Lig & Myers S.. 94% 93% 94% 94% Lorlllaid 23% 22*% 22% 22% Reynolds Tob... 50% 50% 50% 50% Tob Pr A 12% Tob Pr B 3% United Cig 6% ... Utilities— Abitibl 26% Adams Exp 27% 27% 27% 27% Am For Pwr.... 77% 75% 76% 76V* Am Pwr A: Li 92% 91 A T Ac T 216% 215% 215% 216 Col Gas Ac El 65% 65% 65% 65% Com Ac Sou 14% 14% 14% 14% El Pwr Ac L 1.... 75% 74% 74% 73% Gen Gas A.... 10% 10 10% 10% Inti T Ac T.... 47% 46% 46% 47Vi Natl Pwr Ac Li... 49% 48% 49 48% No Amer Cos 103 102 102 103 Pac Gas Ac El 59 Pub Ser N J 97% 96% 96% 96% So Cal Edison 58% Std G Ac El 102% 101 101 102 United Corp 35% 34% 34% 34% Ut Pwr Ac LA.. 34% 34% 34% 34 West Union 172% Shipping— Am Inti Corp.. 36 35% 35% 35% Inti Mer M pfd 20% No Gm Llovd... 43% 43 43 United Fruit... 91% 91% 91% 91 Foods— Am Sug 53% Armour A 5% 5 5 5% Cal Pkg 63 64’/a Can Drv 66% 66 66 Childs Cos 57% 57 57 Coca Cola 181% 180 180 180 Cont Baking A 24% Corn Prod 97% 96% 96% 96% Cudahy Pkg 39% 39% Gen Foods 55% 55% 55% 55% Grand Union .. 15% 15V S 15% 15% Kroger 25% 25% 25% 25% Nat Biscuit 86% Pillsbury 32% Safeway St 61% 60% 60% 63 Std Brands 20% 20% 20’% 20% Ward Bkg 7’% Drugs— Cottv Inc 21% 21% 21% 21% Lambert Cos .... 91 90% 91 91% Lehn Ac Fink 30 30 Industrials— Am Radiator .. 27% 27 27% 27'% Bush Term 38 Gen Asphalt 46 Otis Kiev 65 65'% Indus Chems— Allied Chem 274 Com Solv 27% 26% 26% 27 Union Carb .... 74% 73’% 73'% 73% U S Ind Alco.. 70 67 69 71 Retail Stores— Assoc Dry Gds 34% Glmbel Bros 2'% 12 12 12% Kresge S S 29 Mav D Store 44% Mont Ward .... 36% 36'% 36'% 36'% Penny J C 55 54 54 Schulte Ret St 6'/* ... Sears Roe 67% 67 67'% 67% Woolworth 60 59% 60 59'% Amusements— Bruns Bailee 15% Col Graph 18% 18 18'% 18% Eastman Kod ...213% 211 211 210’4 Fox Film A 47% 46’% 46% 47%, Grigsby Gru 14% 14% 14% 14% Loews Inc 74% 72% 73 73% Param Fam ... 60% 59% 59% 60V* Radio Corp .... 45% 44% 44% 44% R-K-O 33% 32% 32% 33 Schubert 19 48% 19 18% Warner 8r05... 38 7 a 37% 38 39'% City Ice Ac Fu ... 42% Congoleum 12% 13 Am Can ...134% 132% 132% 132% Cont Can 62 61% 61 % 61% Curtiss Wr...... 7% 7% 7% 7% Gillette SR.. .82% 80% 80% 82 Real Silk 45% 46%

Banks and Exchange

INDIANAPOLIS STATEMFNT Indianapolis bank clearings Wednesday. July 30, were $2,920,000; debits. $5,708,000. CHICAGO STATEMENT Bu t’nited Press CHICAGO. July 30.—Bank clearings. $79,900,000; balances. $3,900,000. NEW YORK STATEMENT Bu United Press NEW YORK. July 30.—Bank clearings *1.003.000.000, clearing house balance $144,000,000. federal reserve bank credit balance $118,000,000. TREASURY STATEMENT Bu t'fated Press WASHINGTON. July 30.—The treasury net balance on July 28 was $195,309,503.47; expenditures for the same day were $lO,181.795.87, and customs receipts for the month to that date were $23,284,889.27.

New York Bank Stocks

—July 29Bid. Ask. America 97 98 Bank of United States 41% 42% Bankers 139% 140% Central Hanover 348 353 Chase Natonal 140 141 Chatham Phoenix Natl ... 107 109 Chemical 63 69% City National 133 134 Corn Exchange 161 162 Commercial 385 400 Continental 27% 28% Empire 83 85 First National 4.900 4,940 Guaranty 617 621 Irving .. 50 50% Manhattan Si Company 110 111 Manufacturers 96 97%

Buy All These Stocks no Or More Down *lO Month Railroads Industrials Atrh.. Top. & Santa Fe Amer. Radiator & Standard Railway Company Sanitary Corp. . „ „ „ American Tobacco Cos. Canadian Pac. Ry. Cos. (Class B) Illinois Cent. R. R. Cos. dnPont (E. I.) deNemours Louis. * Nash. R. R. Cos. * Company N. T. Central R. R. Cos. Eastman Kodak Company Pennsylvania R. R. Cos. of New .Jersey Southern Pacific Cos. General Electric Cos. Union Pacific R, R. Cos. Ingersoll-Rand Company National Biscuit Cos. Otis Elevator Company United Fruit Company Oils V. S. Steel Corporation Westinghouse El. & Mf*. Royal Batch Company iv„,,i, r i r„ (New York Shares) Woolworth (F. W.) Cos. Standard Oil Company of California ... , Standard Oil Company Utilities (New Jersey) Standard Oil Company American Tel. A Tel. Cos. of New York * Cons. Gas Cos. of N. Y. Texas Corporation Western Union Tel., Cos. An Old Line Life Insurance Company Pays Balance of Conlraci If You Die Fill in and Mail Coupon Today’for Complete Details Name Address J.FWIUD INVESTMENT CO. 129 E. Market St. gjgJ Phone Lincoln 6584

THE INDIANAPOLIS TIMES

SWINE MARKET HOLDS STRONG AT CITYYARDS Cattle Trade Steady and Active; Vealers Sell 50 Cents Up. July Bulk Top Receipts 22. 9.25 Pi 9.65 9.65 4.000 23. 9.004* 9.35 9.35 4.500 24. 9.304a} 9.60 9.65 4.000 25. 9.35-8! 9.70 9.70 7.500 26. 9.00*2! 9.50 9.50 2.500 30. 9.25® 9.65 9.65 6.000 Hogs again showed a stronger tendency this morning at the Union Stockyards as prices moved forward 5 cents on most classes. The bulk, 160 to 260 pounds, sold for $9.25 to $9.65; top price paid was $9.65. Receipts were estimated at 6,000, holdovers were 156. Cattle were fully steady with receipts of 700. The market held slightly more active than recent dull sessions, vealers were 50 cents higher, selling at $9.50 down. Calf receipts were 550. Sheep receipts were 1,300, the market steady to 25 lower, mostly steady. Top lambs sold for $9, the bulk ranging from $8 to $8.75. Chicago hog receipts were 12,000. ■nciuding 2.000 direct. Holdovers were 4,000 The market held active to shippers on light weights, 10 to 15 cents higher than Tuesday’s average. Early sales of good to choice 170 to 210 pound weights, $9 65 to *9.75; early top $9.80. Some were held higher; little done on butcher weights ana packing sows. Cattle receipts were 7,000; sheep, 13,0)0. HOGS Receipts. 6.000; market, higher. —Light Lights—-(l4o-160) Good and choice. ..$ 9.25® 9.35 —Light Weights—-(l3o-180) Good and choice 9.65 (180-200) Good and choice... 9.65 —Medium Weights—-(2oo-220) Good and choice .... 9.45® 9.55 (220-500) Good and choice.... 9.25® 9.45 —Heavy Weights—-(2so-290) Good and choice.... 9.05® 9.25 (290-350) Good and choice.... 8.75® 9.05 —Packing Sows—-(27s-500) Medium ana g00d... 7.00® 8.00 —Slaughter Pigs—-(loo-1301 Good and choice.... 8.85® 9.10 CATTLE (Slaughter Classes) Receipts, 700; market, steady. —Steers—-(6oo-1100) Good and choice $ 8.00®10.00 Common and medium 6.00® 8.00 (1100-1500) Good and choice 7.75® 9.75 Meduim 6.00® 7.75 —Heifers—-(sso-850) Good and choice [email protected] Common and medium 5.00® 8.00 —Cows— Good and choice 5.75@ 7.00.. Common and medium 3.75.® 5.75 Low cutter and cutters 2.00® 3.75 —Bulls (Yearlings excluded) Good and choice beef) 5.50® 7.00 Cutter, common and medium. 3.50@ 5.50 CALVES and VEALERS Receipts. 550; market, higher. Vealers (Milk Fed) Good and choice $ 9.00® 9.30 Medium 7.00® 9.00 Cull and common 4.50® 7.00 Calves (250-500) Good and choice 7.00® 9.50 Common and medium 5.00® 7.00 STOCKER AND FEEDER STEERS (500-600) Good and choice 5.50® 7.25 Common and medium 4.00® 5.50 (800-1050) Good and choice 5.50® 7.25 Common and medium 4.50® 5.50 SHEEP AND LAMBS Receipts, 1.304: market, steady. —l.ambs-r-Good and choice $8 .00® 9.50 Common and medium 4.00® 8.00 —Ewes— Medium and choice 2.00® 3.50 Cull and common I.oo® 2.00 Other Livestock Bu United Press CHICAGO. July ST—Hogs—Receipts, 12.000: including 2.000 cirect: market active. 10@20c higher: top. $9.85; bulk, good to choice. 160-210-lb. weights. [email protected]; packing sows. $7.65(5 7.85; light lights, 140160 lbs., good and choice. [email protected]; light weights. 160-200 lbs., good und choice, $9.55 @9.85; medium weights. 200-250 lbs., good and choice. [email protected]: heavy weights. 250350 lbs., good and choice. [email protected]: packing sows. 275-300 lbs., medium and good. s7@B; slaughter pies. 100-130 lbs., good and choice. [email protected]. Cattle Receipts, 7.00; calves. 2.00: general trade strong to 25c higher; choice weighty steers top at $11; all interests buying; slaughter cattle and vealers: steers. 600-900 lbs., good and choice. $9.25® 11; 900-1.100 lbs., good and choice. $9.25*511; 1,100-1,300 lbs., good and choice. $8.75@11: 1.300-1.500 lbs., good and choice. $8.50@11: 600-1.300 lbs., common and medium. $5.50@9: heifers, 550-850 lbs., good and choice. [email protected]; common and medium. $4.75@9: cows, good and choice. [email protected]: common and medium, [email protected]; low cutter and cutter cows.. $2.50 0 3.75: bulls, yearlings excluded, good and choice, beef. $6.25@7; cutter to medium. $4.50(5 6.75: vealers. milk led, good and choice. [email protected]: medium, $9*59.50: cull and common. s6@9; stocker and feeder cattle, steers 500-1,050 lbs., good and choice. $7*57.75: common and medium. $4.75*57. Sheep—Receipts. 13.000; around steady; western lambs unsold; sorted natives mostly $8.75; top to city butchers. • *9: bucks. $7.50®7.75: fat ewes. s3*s 3.75; slaughter sheep and lambs. Jambs 90 lbs. down, good and choice. sßv9: medium. $6.50@8: all weights, common. $4.75®6.50: ewes. 90-150 lbs., medium to choice. $2.25 @4: all weights, cull and common. sl® 2.75: feeding lambs, 50-75 lbs., good and choice, $6.25(5*6.75. Bu T'nited Press CINCINNATI. July 30.—Hogs—Receipts. 3.709; including 609 direct. 90 heldover: pigs, light lights and packing sows about steady on a few' early sales: butcher hogs generally 25c higher, active: bulk better grade. 170-230 lbs.. $9.75*510: mostly $lO on 220 dov'n: 240-270 lbs., $9.2509.50: 330-lb. butchers downward to $8.50; few desirable 120-150 )bs., $9.25; packing sows. $6.75 to mostly $7. Cattle—Receipts. 225; calve\ 225; generally steady: common to medium grass steers and heifers. [email protected]: one load more desirable steers, average around 1.200 lbs..'s7: most cows, *4.5005.50; bulk low’ cutters and cutters. $2.25*5 3.50: few weighty bulls around $5.75: light weights not wanted: good and choice vealers, $7.50 @9: lower grades. s4@7. Sheep—Receipts, 700: steady: better grade lambs scarce, fairly active at $8.50: mostly $9; choice train lambs auotable up to $9.50; medium grade and buck lambs, $6*56.50: common throw'outs. ss® 5.50: lat ewes, [email protected]; bucks, .$1.50*52.

Dow-Jones Summary

Lane Brvant Inc., year ended Mav 31. 1930. earned $3.99 a common share against $4.94 a share in preceding year. Eagle-Picher Lead first six months loss $836,413 after depreciation, depletion, etc., against net profit $994,993 or 97 cents a common share in first half of 1929. Current assets $10,126,279 against current liabilities of $2,363,272. Goldman Sachs Trading Corporation in first six months earned 47 cents • share on 6,765,353 shares. On June 30 net asset value per share amounted to $30.16. I I. R. T. Cos. for year ended June 30. 1930. reports net loss $155,007 after interest, taxes and Manhattan dividends, against net income of $3,007,900 or $8.59 a share on 350,000 shares in preceding year. Emil Hoen. E. S. Higgins and Hubert H. Harrigan elected directors of Parmalee Transportation Company succeeding Austin J. Bruff. Norris B. Henrotln and Harold Hodgson, resigned. Rudolph Spreckels, chairman of Bolster Radio Corporation and other officers and directors not obliged to disclose to stockholders their stock market transactions in Koister stock, John A. Bernard special master finds in report made in chancery court in Newark. Charge that market was “rigged” not substantiated report found. Burroughs Adding Machine Company declared regular quarterly dividend of 25 cents payable Sept. 5, record Aug. 9. International superpower corporation's June 30 statement shows liquidating value of outstanding shales at $43.34 a share an appreciation of $2.76 over Dec. 31, 1929. Motor Bankers’ Corporation in first six months earned $1.36 a common share in first half of 1929. Crude oil production in United States in week ended July 26 averaged 2,488,700 barrels daily, a decrease of 11,400 from preceding week and 407,950 below like 1929 week, American Petroleum Institute reports. Gasoline stocks declined 1,186,000 barrels to 45,937,000, Car loadings In United States in week ended July 19 totaled 928,256 cars a decrease of 151,712 from like 1929 week and 95.587 below 1928 week, but increase of 12,271 above previous week. Calumet Ac Hecla Consolidated Copper Company quarter ended June 30. net profit $156,085 after taxes, depreciation, etc., but before depreciation against $1,841,766 in June quarter. 1929. Six months ended June 30 net profit before depreciation sl.160.337 against 53,642,124 In first half of 1929. Midland Steel Products has acquired all American and foreign patent's rights covering airbrakes for automobiles, airbrakes and starters for airplanes and boosters for all typres on brakes nnder patent held by Niels Anton Christensen, inventor. Eports of refined copper from United States in June, 27.493 tons against 34,090 tons in May, and 20,376 tons in April, according to American Bureau of Metal Statistics. Imports of copper in unmanufactured form by United States. 27.890 tons ir June against 22,294 in May, and 32.186 in April. Great Britain imported 15,086 tons in June against 10,720 tons in May, and 11,204 tons in April. Great Britain imported 27,916 tons of lead in unmanufactured form during June against 27,925 tons in May, and 30,924 in April. June wholesale grocer sales dropped 6 per cent below June, 1929; dry goods. 29 per cent; hardware, 21 per cent, and drugs, 6 per cent. For six months, groceries were 2 per cent off; dry goods. IS per cent; hardware. VI per cent, and drugs, 16 per cent. Johns-Manville Corporation declared regular quarterly dividends of 75 cents on common, payable Oct. 15, record Sept. 24, and $1.75 on preferred, payable Oct. 1, record Sept. 10. Radio Corporation of America Communications. Inc., effective Aug. 1, has reduced rate for radio letters and weekend radio letters to Switzerland, Lichtenstein % cent a word. Graham-Paige Motors Corporation and subsidiaries in June quarter had net loss of 391,480 after charges, against net loss of $489,480 in preceding quarter and net profit $818,070 or 51 cents a common share in like 1929 period. Loft. Inc., first six months loss $260,971 after interest. inventory and other charges. In first half 1929 profit was $403,403 after expenses, but before depreciation and federal taxes.

On Commission Row

FRUITS Apples—Basket: Winesap, '53.25; Ben Davis, $2. Boxes: Stayman, $3.75@4; Wmesap, [email protected]. Barrels: Ben Davis, $5.50; Winesap, [email protected]; new. Yellow Transparents. s2@3 a bushel. Calilornia Royal. $2.50®2.75 a Melons—Cantaloupes, California standards, $3 2505 a crate; ponies, [email protected]: jumbo, [email protected]; Honev Dew. [email protected] a crate. Watermelons, 34-Ib. average, 60 ®6sc. Blackberries—Michigan, $5.50 a 24-quart crate. Cherries—California, 8-lb. box, $3; Michigan. 24-quart crate. $3.75®4. Currants—Michigan, $2.50 a 16-quart crate. Dewberries—North Carolina, $6 a 32quart crate. Gooseberries—Michigan. $3.75 a 16-quart crate. a < cra?e efrUlt ~^ lmper,al valley, [email protected] Huckleberries—sß a 24-quart crate, Lemons—Fancy California. *7.50@8 a crate. Limes—Dominican, $2.50 a, 100. Peaches—Georgia. $2 a ofie-half-bushel basket; 6-basket crate. $3®3.75. Oranges—California Valencia. $6.75® 8.75 a crate. Pineapples—Cuban, [email protected] a crate. Plums—California. $2 @2.50 a 24-lb. crate. Raspberries—Red California, $4.50@5 a 24-pint crate; black. $3 @3.50. VEGETABLES Asparagus—Home-grown, long green. 75c @sl a dozen bunches; white, 65c. Bea ‘\ s — Mar jon county. *1.50 bushel; wax, $1.25 a Climax basket. Beets—Louisiana new, $1.50 a bushel; home-grown. 35c a dozen bunches. Cabbage—Home-grown new. [email protected] barrel. Carrots—Louisiana, $1.50 a bushel; Indiana. 35c a dozen bunches; California $3.75 a crate. Cauliflower—Home-grown. [email protected] a bushel. Celery—California. $8 a crate of 48; Michigan. $1.50: Florida washed, $1.25® 2.25 a bunch. Corn—Roasting ears. Alabama. [email protected] a 5-dozea crate: Marion county. 35@40c a dozen. Cucumbers—Home-grown, hothouse. 65® 90c a dozen. Kale—Home-grown, 75c a bushel. Lettuce—Washington Iceberg, $5.50 a crate of 4s, ss; extra fancy Marion county leaf. 75c a 15-lb basket. Mushrooms—3-lb. basket, *3 Onions—Green, home-grown. 30c a dozen bunches; new Texas yellow Bermuda. $2 a crate- Crystal Wax. *2.50: Colorado Spanish. $1.75. Parsley—Southern, 65@75c a dozen bunches. ° M) 6 a^Js^e? 150136 ’ home 'K rown . $2.25® Peppers—Mississippi. [email protected] a hamper Radishes—Hothouse, button. 40c a dozen bunches: long red or white, 30c. Rhubarb— Homelgrown. 35c a dozen. Spinach—Home-grown. 85c a bushel. Tomatoes—Tennessee. 30-lb. lug, s2' Marion county hothouse. $1.25 a 10-fi>. basket. Turnips—New, $1.50 a bushel; Marlon county. 45c a dozen bunches. Potatoes—Main Round Whites, $2.75 a 120-lb. bag; Colorado Russet. $4.7505.25 a 100-lb. bag; Red River Early Ohio, *4.

Net Changes

Bu United Press NEW YORK. July 29.—Closing prices and net changes on principal stocks traded on the New York Stock Exchange today were as follows: . Up. Off. American Can .T 32% ... 1% American and Foreign Power 76% % ... American Telephone 216 ... 2% Bethlehem Steel 83 ... 1% Consolidated Gas 112% ... % Electric Power 74% ... % Geera! Electric 72% .. % General Motors 47% % ... Loew's Inc 73% % ... National Power and Light.. 48% ... % Packard 15% % ... Pennsvvania 76 ... % Radio . . 44% % Sinclair 24% ... % Standard Gas 102% 2% ... Standard Oil New Jersey.. 73% ... 1% Union Carbide 73% ... 1% United States Steel 167% ... 1 Vanadium 103% ... % Warenr Brothers ... 39% % ... Westinghouse Electric 148% ... 3

Local Wagon Wheat

Citv *ra;l elevators are paying 74c for No. 1 red wheat and 72c lor No. 1 hard wheat.

GRAIN FUTURES SHOW NERVOUS TONEINjALES All Grains Weaken at the Close; Wheat at PreWar Levels. Bu United Press CHICAGO, July 30.—Heavy liquidating sales by locals and commission houses kept wheat on the downward path on the Board of Trade today and sent prices to new low levels. All deliveries are n°w at pre-war levels. Hedging pressure was persistent and large while the weakness at Winnipeg, which led the decline, was another depressing factor. The {act that corn was at a wheat and the weakness in wheat caused corn to sag sharply despite a decidedly bullish government weekly weather report and almost sensational damage reports. Oats followed the major grains. Liverpool Weakens At the close, wheat was 2*4 to 2% cents lower> corn was *4 to 1% cents lower, and oats was VA to 1% cents lower. Provisions were strong to higher. Broomhall’s estimate caused Liverpool to weaken in the late trade and prices sagged to close much lower at 1% to 1?A cents off. Export business was reported at the lowest ebb of the season. Cash prices were 1 cent lower. Receipts were 351 cars. Corn was strong early but the weakness in wheat and profit-tak-ing robbed it of its gains, sending prices around 1 cent under the previous close. Support Is Good Support was very good and a fair rally recovered some of the lost ground, but prices held mostly around Tuesday’s closing levels and below at mid-session. Country offerings were next to nothing and the shipping demand was very good. Cash prices were % cent lower. Receipts were 96 cars. Oats weakened with the other grains but declined only fractionally during the morning. Trade was very quiet, most of the attention centering on wheat and corn. Cash prices were unchanged. Receipts were 114 cars. Chicago Grain Table WHEAT- “ JUly 3 °- Prev t. i High. Low. Close, close. July.. .85% .85% .83% .83% .86% Sept.. .87% .87% .85% .85% .87% P/ c ". -92% .93% .90% .90% .93% M corn— 7/ * ‘ 97/ ® ' 9s ’ /i • 95 ' / * M July.. .87 .87 .85 .85% .86% Sept.. .86 .86% .84 .89% 86 Dec... .80% .80% .78% .79 .80% Mar... .83% .83'% .81% .81% .83% OATS— July.. .34% .34% .32% .32% .34% Sept.. .36% .36% .35 .35 .36 s ,a Dec... .40% .40% .38% .38% .40% Mar... .42% .42% .40% .40% .43 rye;— July 50% .53% Sept.. .55% .55% .52% .52% .55% Dec... .60% .60% .58 .58% .60% Mar... .65% .65% .63 .63% .66 LARD— July 9.80 9.65 Sept.. 9.80 9.82 9.77 9.82 9.72 Oct... 9.80 9.85 9.80 9.85 9.75 Dec... 9.40 9.42 9.40 9.40 9.35 BEILLIES—July.. 13.62 13.50 Sept. 12.75 12.90 12.75 12.90 12.70 Bu United Press CHICAGO. July 30.—Carlols: Wheat, 471: corn. 190; oats. 84. Bit United Press CHICAGO, July 30.—Cash grain close: Wheat—No. 1 red, Ss@Bs%c: No. 1 hard, 84%@85%c; No. 2 Laid. 84%@85c. Corn—• No. 2 mixed. 86%c: No. 4 mixed, 85%c; No. 5. mixed. 84%c; No. 1 yellow. 86%c(887%c; No. 2 yellow', 86%@87c: No. 3 yellow, 86%c; No. 5 yellow, 85%c; No. 6 yellow, 84%c; No. 2 white, 88@89c; No. 3 white. 88c: sample grade. 79@82c. Oats—No. 2 white,3s%@36c: No. 3 white, 33%@35c; No. 4 white, 33%@ 34c* sample glade, 32c. Rye—No. 2, 58%v60c. Barley—46@6oc. Timothy 17.75. Bu United Press TOLEDO, 0., July 30.—Grain close: Wheat—No. 2 red. 85%@ 86%c. Corn—No. 3 yellow, 92@93c. Oats—No. 2 white, 38@39c. Rye—No. 2,. 72c. Barley—No. 2,53 c. Clover—Domestic, cash, $13.50; prime choice. $13.80; Oct... $14.25; Dec.. $14.50. Alsike—Cash. $11.60; Oct.. $11.80; Dec., sl2. Butter—Fancy creamery, 40® 41c. Eggs—Country run, 18@20c. Hay— Timothy, $1.25 per cwt.

Produce Markets

Eggs (Country Run I—Loss off deliverd In Indiananolis. 16c; henery auality. No 1. 20c: No 2. 13c. Poultry ibuylng prices—Hens, weighing 4% lbs. or over. 17c: under 4'/ 2 lbs.. 17c: Leghorn hens. 14c: springers. 2% Ibs. cr over 21c: under 2% lbs.. 18c: Leghorn springers. 14c: old cocks. 9® 10c: ducks, full feathered fat whites. 9c: geese. 6c. These prices are tor No. 1 top auality auoted bv Kingan & Cos. Buter (wholesale)—No. 1. 38@39c: No. 2 36@37c. Butterfat—32c. Cheese (wholesale selling price per pound i—American loaf. 31c; pimento loaf. 32c: Wisconsin firsts. 27c: Lognhorns. 34c: New York Limbereer 36c. Bu United Press CHICAGO. July 30.—Eggs—Market, firmer: receipts. 8.593 cases: extra firsts, 23® 23%c: firsts. 226 c: current receipts. 19®) 21c: ordinaries, 17@18c; seconds. 14%c. Butter—Market, steadv: receipts, 6.282 tubs: extras. 36%c: extra firsts. 35@35%c: firsts. 33@34c: seconds. 30032 c; standards. 36%c. Poultry—Market, uneven: receipts. 1 car: fowls. 20c: springers. 26c: Leghorns. 15c: ducks. 14017 c: geese. 16c: turkeys. 18c; roosters. 16c: broilers, 21c. Cheese— Twins. 16%@16%c: young Americas. 17c. Potatoes—On track. 187: arrivals. 34; shipments. 544: marekt. steadv: Kansas and Missouri sacked Irish Cobblers. $1.5001.65: East Shore Virginia barrels, Irish Cobblers. $3.1003.25. Bu United Press _ CLEVELAND. July 30.—Butter—Firm: extras, 39%c: standard. 39%c. Eggs—Firm: extras. 27c; firsts. 20c. Poultry—Steady; fowls. 22023 c; medium. 22c; Leghorns. 15® 18c; heavy springers. 22@26c; over 3 lbs.. 260 30c; Leghorn springers, 18@21c; ducks, 10020 c: old cocks, i4@l6c; geese, 20c. Potatoes—No ouotes.

In the Stock Market

(Bv Thomson & McKinnon) NEW YORK, July 30.—Predictions by su';b conservative management as that of the Steel corporation that their business is expected to steadily increase for the remainder 01 the year, will have a most welcome effect upon the country as a whole.; Asa barometer for general busiless, the forecast coming from the best industrial minds will carry far more weight than the flood of earlier business prophecies. While the earnings revealed were in line with expectations, it can not be overlooked that the figures exceeded any previous corresponding half yea; except 1929 of the past five years. Another industry that is quietly working its way into a healthy position is oils as disclosed by the large shrinkage in gasoline stocks ind the continued control in crude production. Then, toe the rising tendency in carloadings further indicates that greater di.s*.ribution-of goods is now getting uncer way. Looking forward, signs are more clearly pointing to actual betterment and as that condition is generally realized, demand for representative stocks will b:oadenand higher prices result.

Indianapolis Stocks

v —July 30— Bid. Aik mer Central Life 'n C0....1.000 ... Belt RR ti Yds Cos com 59% 61 Belt R R A: S Yds Cos old 56 6i Bobbs-Merrlll Cos • ■ 30 33% Central Ind Power Cos pfd... 90 94 Circle Theater Cos com .106 Citizens Gas 22 Citizens Gas pid 97 .01 Commonwealth ICo pfd 7%.. 98 103 Commonwealth L Cos pf 8 %. 99 ... Hook Drug Cos com news 23 20% Ind Hotel Cos Claypool c0m..125 ... Indiana Hotel Oo Orel 100 104 Indiana Service Corn Dref 86 ... Indianapolis Gas Cos common.. 57 61 Indols North Western Indpls Power Si Lt pfd 123 Indpls Pub Wev Loan As com 53 ... Indpls St Rv Cos pfd 10 11 Indpls Water Cos pfd 101 103 Northern Ind Pub 6% eo Did. 99 101 Interstate Pub e'erv 7e 102 104’% Northern Ind Pub 7% co 01d..106 Metro Loan Cos 99% ... Northern Ind P s%<t co pfd.. 92 97 Northern Ind Pub 6% pfd... 99 102 Progress Laundry Cos c0m.... 44 47 S Rauh Ac Sons Fer Cos pfd .. 47 Real Silk Hosiery M Inc pfd.. 90 Shareholders Investors Cos. . 23 Standard iOl Cos of Ind 51 T H I At E Did 9 Terre Haute Tree LCo pfd.. 79 83 Union Title Cos common 40 ... Van Camp Prod Cos Ist pfd. .. 98 Van C'amo Prod Cos 2nd pfd .. 98 2 shares Terre Haute Trac L Cos pid at 80 BONDS Belt R R Si Stock Cos ss 91 Broad Ripple 41 Central Indiana Gas Cos 55.... 99% ... Central Ind Power Cos 6s 98% Citizens Gas Cos 5s 100 103% Citizens Street Railroad 5s 42 43% Gary St Rv Ist 5s 65 Home T Ac T of .-'t Wayne 6s 101% ... Ind Northern Trac Cos 2% E Ind Ry & Light Cos 6s 95 Indiana Service Corpn 5s ... 88 Indpls Power Ac Light Cos 55.. 99% 101 Indiana Union Trar cc 65.. 7 Indpls Col Ac Trac Cos 6s 90 95 Indianapolis Gas Cos 5s 100 102 Indpls & Mart Rapid T Cos 5s 6 Indpls No Trac Cos 5s 12 15% Indols North Western Cos Indpls Street Rv 4s 29 30 Indpls Trac Ter Cos 5s *Bl *B4 Inopls Union Ry 6s 100*4 Indpls Water Cos 5%s 103% 104% Indpls Water Cos 5s 99 Indpls Water Cos lie & ref ... 99 Indpls Water 4%s 94% 96 Indpls Water W Sec Cos 5s 88% ... Itcrstate Pub Serv Cos 4%s .... 91% ... Interstate Pub Sex Oo 5s 98 Interstate Pup Serv 6%e 103 No Ind Pub Serv Cos 5s .. 101% No Ind Telephone Or 6s 100 T H Ind Ac East Trac Cos 55.... 70 T H Trac Light Cos 5s 85 1 Bond Citizens Gas Cos 5s at 102 •And Interest.

CANADIAN GRAIN HURT BY ROST Rains Arrive Too Late to Help Dry Areas. Times Special VINNIPEG, Manitoba, July 30. Some of the drought areas in western Canada received beneficial rains, but precipitation in such districts has come too late to increase materially the general outrun of wheat, according to the weekly crop report of the Canadian National Railways. However, the rains will improve coarse grains and insure a more abundant supply of fodder. In Manitoba the past week has been extremely hot and cereal crops have been unduly hastened toward maturity. The heat was interspersed with thunder showers with the result that leaf and stem rust is apparent in a large number of districts. The heart of Saskatchewan's grain area received welcome rains but wheat is practically headed and straw is short, so that rains have arrived too late to alter the general outrun. Grain will be ready to cut about Aug. 5. Rains in southern Alberta were welcome and conditions have improved. More moisture is still necessary. Other Livestock T' rr S* l 30 ‘ — 2Ioks —Receipts. 1.500. strong to 10 cents higher - 156-°lO 250'31n ' 7 i l °' Vo v°n 2 i s t ° •:a5®9.e3; £i2^ 32 orStn 58.75®9.25: sows. [email protected]; battle —None. Calves —Re- ... .a '"O: steady, good to choice veal- % medium. s4@3. 1.™?.? - SfiSlPS?’ 1 000; steady; better grade lambs, *7.50@9: common to medium. ss@ 7. god to choice, aged wethers, s4® 4.50. EAST ST. LOUIS. 111.. July 30,-Hogs-Receits. 7.500; market, opened 10@20c ’’'Cher; pics and sows share advance; bulk. g- 220 lbs.. $9.50® 9.75; 230-260 lbs., $9.35 most sows, [email protected]. Cattle-Re-ceipts. 3.500. Calves—Receipts. 1.500: inarket. native steers slow: few western steers steady at [email protected]: bulk, unsold: mixed yearlings and heifers steady to 25c higher: cows, cutters and low cutters strong: bulls, steady at $5.75 down; vealers opened 25c lower at $9.50: later deals of bulk 50c higher than early at $lO Sheep—Receipts. 2.500: market, no early sales: indications steady; probable bulk fat lambs. $858.25. Bu T'nited Press NEW.YORK. July 30.—Flour—Dull and easy: spring patents. ss® 5.40. Pork—Quiet: mess. $30.50. Lard—Firm; middle west spot. slo.lo® 10.20. Tallow—Steady: special to extra, 5%@5%c. Potatoes—Barely steady; Long Island. $1.25® 2.75: southern. $1.50@2 barrel: Jersey. [email protected] basket. Swet potatoes—Steady; southern baskets. $2.25®2.50. Dressed poultry—Steady ‘o firm: turkeys. 20®44c: chickens. 17@36cfowls. 14@20c: ducks. 12®15c: ducks. LcTig Island. 13@ 18c Live poultry—Quiet; geef.e. 10@12c; ducks. 12@22c: fowls. 15@2:icturkeys. 20@25c: roosters. 15® 17c: broilers. 180 35c. Cheese—Quiet and steady: state v/hole milk, fanev to special, 25® 26c; young America. 17%®25c. Bu t'nited press FT. WAYNE. Ind., July 30.—Hogs— Market, steady to 10c higher: 90-120 Tbs., *8.50: 120-140 lbs. $8.75: 140-160 lbs., $9.20: 160-180 'bs.. $9.50: 180-200 lbs.. $9.60-200-225 lbs.. $9.35: 225-250 lbs.. $9.10; 250275 lbs., $8.90: 275-350 lbs.. $8.55: roughs, s7stags, $5; calves, $9; lambs, $7.50. Bn United Press CINCINNATI. 0., .July 30.—ButterSteady: creamery hi tub lots according to score. 33@36c: common score discounted 20 3c: packing stock. No. 1. 26c; No 2, 20c: No. 3.15 c; but.tsifat, 31 @33c. Eggs— Steady: cases included: fresh gathered, 26c: firsts. 21c; seconds. 16c: nearby ungraded, 20c. Live poultry—Thin and coarse stock sells only at heavy disco mt: fowls. 5 lbs., and over. 17%c;‘4 lbs. and over. 16c; 3 !bs. and ever. 15c; Leghorns. 3 lbs. and over. 13c; roosters, 12c; colored fryers, over 3 'bs.. ?7c; broilers, colored, over 2 lbs, 25c; broilers over 1% ids.. 22c; 1% lbs. and over. 19c: Leghorns end Orpington broilers, over 1% lbs, 23c; 1% lbs and .over. 19c; broilers. partly feathered, 15® 18c, Hack springers. 18c. Bu T nited Press ce? Ju ‘V 30.—Hogs—Receiots. 600: holdovers none: most representative weights. 15@25c higher: pigs, rough sows and stags steady at $9.50. $7.50 and $5 50 respectively: 160-210 lbs, $10: 200-250 lbs. $9.65: heavier butchers around $9.50. Cattle— ReceiDts. 100; common steers slow to around steady: ss@6 kinds predominatingcutter kinds downward to $4; low cutter cows firm, around *[email protected]. Calves—Receipts. 400: strong to 50c higher; good and choice vealers upward to $12.50 and *l3common to good kinds. S7O 11. Sheep—Receipts. 400: good to choice lambs eligible to sß@9 and above scarce, strong: others steady, most medium kinds. $7 downwardthin culls as low as $3: few outstanding 09 tbs, dry fed yearlings. $7; aged sheep unchanged. v TOLEDO. July 30 —Hogs—Receipts. 300; maiket 15® 35c higher; heavies, $8.500 9; mediums. $9,250 9AO; Yorkers, $9 0 9 50; pigs, [email protected]. Cattle—Receipts. 100; market. slow. Calves—Receipts, light; market, slow. Sheep—Receipts, light; market, slow. EAST BUFFALO. N. Y„ July 30,-Hogs-Recelots. 700; holdovers. 500: market weights below 200 lbs, active: mostlv to shippers: 250 40c higher: weightier kinds slow and steady: bulk 200 lbs. down. $lO 25 few 160 ibs, selected. $10.35: 220-240 lbs ’ $9.350 9.75: 250-280 lbs, S9O 9.35. Cattle— RAceipts. 125. markt. mostlv cows, steady cutter grades. $2.25@4. Calves—Receipts. TSO: market, vealers. unchanged: good (o choice. $10.50 to mostlv *ll. She-p—Re-ceipts. 300: lambs, steady: ouali'v and sorts considered: god to near choice. $9.35throwouts largely $6. LOUISVILLE. July 30.—Hogs—Receipts 600: market steadv to 25c higher: 225 Ibs. SC 85: 165-225 lbs, $9.70: 130-165 lbs, $8 65 ; 130 lbs. down. $6.95; roughs. $8.35; stags. $5.75. Cattle—Receipts. 200: market steadv: prime heavy steers. *BO 9: heavy shipping steers. *6.500 8: medium and plain steers. *5.5006.50: fat heifers. *4.500 8.50; rood to choice cows. *[email protected]: medium to good cows. $3.5004: cutters. *3.25 03.50: canners. *203: bulls. $3.50 0 5.50: feeders. s6® 7.50; Stockers. *SO 6. Calves —Receipts. 200; market steadv; choice. *6.50@7; medium to good. *5.5006 50: common to medium. *3O 5. Sheep Receipts. 800: market steadv: ewe and wether lambs. *8; buck lambs, $7: seconds. *4O 4.50: clipped lambs. *2 500 3.50. Tuesdav’s vhiDm'mts: Cattle, none; calves. 100: hogs. 115: sheep. 905. Building Permits George Rudick. repairs, 2426 Brookslde, SSOO. Mrs. Rockwood. reroof. 4427 Park. (1.200. Bridges Ss Graves, dwelling. 2637 Napoleon. $3,500. , ... Bridges Si Graves, dwelling ayi garage. 109 Buckingham drive. (5.000. M Acme Motion Coal Compaay.Mflice. 1015 East Twenty-eight, $1,582. \¥

.JULY 30,1930

EXPLANATION IS GIVEN FOR LATE DROPINSTOCKS Growth of Stockholders in Great Corporations Is Cited. -i Bjt Times Special NEW YORK. July 30.—The question, "Who bought the stocks everyone sold?” came into the minds of many people as soon as they recovered their bearings after the last October-November stock market crash. They realized that while so many were selling all they had, others were as excitedly buying all they could pay for. Who were they? An answer is given in George Putman s article, "Who owns the stocks everyone sold?" in the World Work for August, it turns out that it was not, after all, a titanic struggle between the bulls and bears of Wall Street, as was the case in most of the old-time stock panics, with the populace looking on merrily, but a terrible competition between such folks as "the dry goods merchants who forsook their counters-for the ticker and the real estate dealers who turned to the financial pages before they read the classified section,” and other "workaday people who grind the grist of production.’* In short, it was various plain peoples for whom the bulls and bears of Wall street worked themselves almost to death in handling the many thousands of orders which flashed in from practically every city and town in America. Stockholders Increase It is not possible to locate individual sellers and buyers of securities, so the merchants and real estate dealers and the workaday people will remain anonymous, but it % quite easy, in the light of events as they can he reviewed now. to see what securities they bought. Comparing the stockholders’ list of ten leading industrial corporations as of February, 1929, and February. 1930, it becomes clear that their average number of stockholders increased 85 per cent in that one year or from 333.198 stockholders in these ten concerns (Montgomery Ward, General Motors, Continental Can’ Woolworth, Standard Oil of New Jersey, Sears, Roebuck, Texas Corporation, Westinghouse Electric General Electric and United Fruit) in 1929 to 617,382 in 1930. Much of the excitement centered around the great public utility houses, which were largely newcomers to the stock panic struggle and among them the increase in stock ownership was also very noticeable. Ten such concerns showed an average increase of stockholders of 40 per cent in one year. Barriers Lowered In the case of Radio Corporation of America, there was a time when they were adding new stockholders at the rate of 900 a day. in the North American Company, the number of stockholders increased about 4.000. Packard Motor Car Company jumped from some 11,000 stockholding Aug ; 31 ’ 1929, t 0 a PP I- oximately 60.000 In four months. Putnam, an investment banker, believes that the general effect of this wide dispersion of ownership of corporations has contributed materially to the development of the country as a whole. He says: "The ill wind has aided the integration of the nation. It has helped push down some of the old barriers between capital and labor. We are rising up more closely knit than we went dow'n. We are developing a new and better understanding of human relationships and anew conception of economies.’’

The City in Brief

Boyd M. Ralston will nrnkr th principal address at a mass meeting of the League of Home Owned Industries at Rhodius park at 7:30 tonight. The estate formerly owned by Robert A. Mac Gill, Crane company manager, at Kessler boulevard and Forty-second street, has been sold to Robert B. Evans, treasurer of the Evans Milling Company. frank Elliott, Indiana university publicity director, will address the Indianapolis Advertising Club luncheon Thursday at the Columbia Club. Births . „ Girls if m'A a " d „ lu > a N ee *V. Christian hospital. Seriate and Marle Carmack. 1041 South hospital** and R * ba Aldrich * Mthodist lln H pfl?e anCl Joset)hine Byfleld. 2810 FrankFred and Vivian McMillan, 3144 School Tenth‘ am Bnd Barnes. 2010 East Roys man ° an< * AJberra Denny, JBl4 Tall* r 4F** tt - 1711 Glmber. Charles and Alma Bange. 4825 Broadwav WMhmßton n<l LUCII * McMlllan - s *'2 Wesi pIUt U 3nd Thelma Lud l°' v . Christian hotDeaths tlc A ?n*e Bumonl 8 umonla V - 6? ‘ City monar- r 23 ' 1442 •* aastr? a e n nte 7 ritTs°- Bt ‘ V ‘ n ' James Donald Gilbert. 3 mo., cltv hnsDltal. lobar nneumonla. y 05 75 ’ Central Indiana, hospital. chronic mvocarditis. * broncho U 25,3 Col “. uSs^Sf^a'rt. 41 - 3044 carson - acute d,ia- , Belle Reede. 78. Methodist hospital, carcinoma. tro l en*terltis lann ' 7 m °" city hoßpltal - aas * Charles G. Dennis, 69,2402 Kenwood, cerebral hemorrhage. Clara Bell Phillips, 6 mo., city hospital. gast.ro enteritis. v ' Mary E. Dorsey. 62. 1318 East Raymond, apoplexy. ’ Edward Ertelts. 72. city hospital, diabetes mellltus. John Higgins. 66. city hospital, accidental. Irene Mansfield. 5 mo.. 2111 Marttndale. acute gastro enteritis. Marriage Licenses Harold Jones. 21. of 2348 Sheldon laborer. and Lydia Davenport. 19 of 2243 Arsenal. Sidney R. Pavev. 20. of 606 North Pine, baker, and Hattie L. M. Kittrell. 26. of 2149 Bellefontaine. Harold L. Pope. 26. of 3827 East Fourteenth. laborer, and Amy G. Klngery. 22, of 2254 South Pennsylvania, stenographer. Arthur D. Stone. 22. of 1865 South East, tinner, and Muriel M. Norton. 21. of 2111 Singleton, clerk. Joseph E. Hooks, 25. of 1177 West Twenty-seventh, laborer, and Pauline Crenshaw. 19. of 2215 North Dearborn, clerk.

Retail Coal Prices

Coke, rut size 88.75 Coke, eze size 9.25 Indiana forked lump ......... 4.75*f 5.75 Indiana ezz 4.75*; 5.25 Indiana mine run 4.75 ft 5.00 Pocahontas shoveled lump ... 8.25 Pocahontas forked lump 9.25 Pocahontas mine run 7.35 New River Smokeless shvld. Ip. 8.25 New River Smokless fkd. 1p... 9.25 New River Smokeless *nlne run 7.26 Anthracite 18.73