Indianapolis Times, Volume 42, Number 216, Indianapolis, Marion County, 17 January 1931 — Page 11

•TAN. 17, 1931

STOCK SHARES COVER LOSSES IN LATE RALLY N. Y. Central Leads Railroads Higher in Last Minute of Trading.

Average Stock Prices

Average of thirty industrials for Thursday a* 162 82. off 4 64. Average of twenty rails was 103.06, off .91. Average of twenty utilities was 59.32. oIT 2.10. Average of forty bonds was 98.22, up .20. Bu United prett NEW YORK. Jan. 16.—Stocks gained fractions to 3 points today in very dull turnover, while wheat at Chicago reacted and brought other grains down with it. Cotton moved narrowly near the previous close. According to preliminary calculation the Dow Jones <fc Cos. industrial average advanced 1.90 points to 164.74 and the railroad average .60 point to 103.66. Sales totaled 1,321,240 shares, compared with 1,932,990 shares Thursday. During the early trading selling carried the whole list into lower territory. A slow, steady rally set in until mid-afternoon, but a sharp dip in Bethlehem Steel temporarily unsettled the entire market. Toward the close short covering brought prices back to near the highs of the day. Steel Goes Higher Word went around the street that one of the big bear operators was planning an extended vacation and was covering his commitments, rhis is said to have been responsible for some of the buying, but it did not increase trading pace to any extent. Tickers lagged leisurely throughout the session which was .mailer than that of Thursday. United States Steel featured, touching 141 in the last three minutes of trading. Other industrial leaders followed it up. Gains of fractions to 3 points were made by Auburn Auto, American Can, Case, General Theaters Equipment and Vanadium. During the early trading Vanadium was forced down sharply. It rallied In the morning and Bethlehem Steel took its place as the weak spfit. The latter issue came within a shade of its low for the last two years, touching 47%, of! l"i. It rallied toward 49 in the last few minutes. Early Selling Slacks A smart rally took place in American Telephone and Western Union while Intel-national Telephone rose fractionally. Utilities generally were up fractions to more than a point. Oils held fractional gains. New York Central led the railroad diviuon with a gain of nearly 2 points. Toward the close Alaska Juneau < ame into prominence. The issued appeared 9,700 shares at B'6, followed by 2,000 at 8% and then rose in %-point, jumps to 9, where it was up % point for the day. In the morning heavy selling came into the Armour issues, following the death of F. Edson White, president of the company This selling dried up before the close

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 16— Clearings CHICAGO STATEMENT —Jan. 15— Clearings iß 2’f22 !!22 Bp.lences 9.800,000 TREASURY STATEMENT —-Jan. 16— Net balance for Jan. 14 $201,288,644.57 Expenditures . ..; 8,313.186.89 Customs reels. month to date 11,453,877.32 CHICAGO STATEMENT —Jan. 16— Clearings Balances * 8,300,000

New York Curb Market

(Bv Thomson & McKinnon* Jan. 16— \m Com Par.. 13 Midw Ut.. 204 Am Gas & El. 72JVMo Kan Pipe.. i Ark Gas 54 Mt Prod gv* Brasil P & L.. 324INst Av 5 Can Marc Nat Inv ....... 84 Cities Scrv ... 174 Newmotit Mia.. . 45 Cord ..... U Nla Hud Pwr. 104 Durant M0t.... 1 Noranda 15 Elec Bd 3h.. 414 Penroad 6Ford of Can. 23% Set Indus.. 3’s Ford of Eng... 1" Shenandoah ... 4 Ford of Fr ... 8 3 . Fid of Ind ... 364 Fox Theater ... 44. Std of Kv 3? 3 , Goldman Sachs. fiVgtd of 0hi0.... SOU Hudson Bav... 4% Un Gas (newi. 9 Humble Oil ... 60 UnUt & Pwr... *3 ind Terr A. .. 15 Un Verde 9 In ull trt... 34 Ut Prr * Tni- Super . 22 Vacuum Oil ... 56’.* Int Pete 14 3 - Van Camp 2 New York Liberty Bonds —Jan. 16— 31 3 5 M >••• • 10-.1 Ist *4'4 s : 4th 4'*s 104. Treasury 4>*s 113 Treasury 34s of 47 J 03.6 Treasure 34$ of '43 102.25

Cash Grain

——Jfin. 16— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shlnping point, basis New York rate were! Whest—Easy; No. 1 red. 71@72c; No. 3 red. 70@71c; No. 2 hard, 69@70e. Corn— Easy: No. 3 white. 61@63e: No. 4 white. 59@61c: No. 3 yellow. 60@62c: No. 4 yellow. 58@60> 2 c: No. 3 mixed. 58@ 59c: No. 4 mixed, 57@58c. Oats—Easv: No. 2 W’hite, 30@31c; No. J white. 39>a@30MsC. Hay— (F. o. b. country potnts taking •’3'vc or less rates to Cincinnati or Louisville.) Steady; No. 1 timothy, *[email protected]; No. 2 timothy, *15@16; No. 3 timothy. U3@l4: No. 1 light clover mixed. sl6@ 16 50: No. 1 clover viixed, *16.50@17; No. l clover hay, *17.50@18. —lnspections— Wheat—No. 1 red, 3 cars; No. 2 red, 1 No. 1 mixed. 3 cars. Total, 6 cars. Corn (old!—No. 3 white. 2 cars; No. 4 white. 3 cars; No. 5 white, 2 cars; No. 3 vellow. 1 car; No. 3 yellow, 22 cars; No. 4 yellow. 28 cars: No. 5 yellow, 5 cars; No. 3 mixed. I car; o. 4 mixed, 2 cars. Total. 66 cars. Oats—No. 1 white. 4 car?; No 2 white, 3 cars. Total, 7 cars. Chicago Grain Table —Jan !6 WHEAT— Prev. Open High. Low. Close, close. Mar (old) .81*. .81’, .80 .80‘, .82', (new) .814 .814 .804 .80*, .824 Mav (old) .83 .834 82 .834 .834 (new) .85 .85 .82 4 .83 4 .84’, julr . ... -674 .674 .654 .*6*4 .674 CORNMar (Old) 68*4 .684 .67** .67*4 .684 (new) .684 .684 .674 63 .684 Mav fold) .704 70S .694 .694 .704 (new) 704 .704 .70 .704 .704 JUlv 714 .71*, .704 .71 /14 Sent „... .714 .714 .704 .714 .71% Mar (old) .334 .33*, 324 .334 .334 Mav (old) 334 .3*4 .3r, .34 4 .44 (new) .*34 .344 .33 S .34 4 -34 4 JU RY i—“ ” 33 33 4 ” 334 Mar (oTd) .414 .414 .404 .404 .414 (new* .41 % .414 .41 .414 .41S May (old) .424 434 414 .414 .43’, (new) .424 .434 .<3 .42 .43 J luv 43 43. .424 42S .42’, LARD— J*n *37 850 8.37 5.47 8.37 Fab. 8.52 845 Mar .... 8.62 8.50 Mav 8.75 BA2 8.72 8.80 8.70 July (85 8.95 885 8.95 8.85 Sept ...- 913 9.1i 9.05 9.07 9,02 J*n Ji zx r::: II: 118

New York Stocks 111 ’<B? Thomson Ac McKinnon j

Bu United Preit NEW YORK. Jan. 16 —Bales of stocks on the New York Stock Ex- ; change today totaled 1,321,240 shares. Curb Stock Exchange sales totaled 297,000 shares. —Jan. 16— Railroads— Prev. High. Low. close close. Atchison 189 135 Vi 189 188 Atl Coast Line ..114% 113% 114% 113% Balt & Ohio .... 78 74 78 % 78% Chesa & 0hi0... 40% 39% 40% 40 Chess Corp 42 41 42 40% Chi Ort West.... 7% 7 7% 7% Chi N West ... 39 7 b 39 39% 40 CRI&P 54% Del L& W 95 91% 95 90% Del At Hudson 143% ... Erie 30 29 % 30 39 Great Northern. 83% 63 63 83% Illinois Central 85% 83% 85% 85 Kan Clt.v So 37% 40 Lou At Nash 102% 102 1 02% 104 M K At T 35 23% 24% 24% Mo Pacific 35 34% 35 34% Mo Pacific pfd 9214 93*. 92% 93% N Y Central ....119% 118% 119% 117% NY NH At H ... 84 82% 34 84 Nor Pacific 54 52% 34 35 Norfolk &. West 200% O At W 7 Pere Marq 80 Pennsylvania ... 60% 59% 60% 59% 8o Pacific 100% 99 V* 100% 100% Southern Rv 58% 57% 58% 58% St Paul 7% 7% 7*4 7% St Paul pfd 12% 12 12% 12 3t L 4 B T 40% 48 Union Pacific ..138 185% 138 186 Wabash ....... 23% 23 23*4 22% W Maryland 15% 14% 15'% 14% West Pacific 11% 11 11% ... Equipments — Am Car At Pdv. 32 31% 32 32 Am Locomotive.. 24 23% 24 24 Am Steel Fti. . 23% 25 25*4 25 Am Air Brake S 33V* 32% 32% 34 Gen Am Tank.. 59% 59 59% 58% Genera! Elec... 43% 42% i3% 42% Oen Ry Stenal.. 69% 68 69V* 88 Lima Loco ... 27% 37% N Y Air Brake 24% 24% Precs Stl Car 4% Pullman 54% 54% Westineh Ar B 33% 34% Westlneh Elec.. 86% 84V4 86% 84Vi Rubbers— Firestone 17 Fisk ... *4 % % % Goodrich 15% 15% 15% 15% Goodyear 42% 41 42 42% Kelly Sprefid... 1% 1% 1% 1% Lee Rubber 3% ... U 8 Rubber 12% 11% 12% 12% Motors— I Auburn 105% 101% 105% 102 Chrysler 16% 16 16% 16% Graham Paige. . 4% General Motors. 36% 35% 35% 36% Hudson 22% 22 22% 21% 1 Hupn 8% 8 8 8% Mack 37% 36% 35% 36% Marmon 6% 6 Nash 32 30% 32 31 Packard 9% 9 9% 9 Pierce-Arrow 19 Reo 9 8% Studebaker 22% 23% 23% 22% Yellow Truck.... 9% 9% 9% 9% Motor Access—- ; Am Bosch ... 16 Bendix Aviation 18% 17% 18% 18 | Bore Warner... 22% 21% 22% 31% I Brlpfts 17'4 16% 17 16% Budd Wheel 10% 10 10% 9% i Eaton 13% 13% 13% 14% El Storage B ... 53 52% 53 Houda 5% 4% 5% ... Motor Wheel ... 13% Snarks-W 10 9% Stewart Werner 18% 17% 18 17% Ttmktn RoU ... 44% 43% 44% 44 Minin?— Am Metals.... .. ... ... 1744 Am Smelt 43% 43 43% 43% Am Zinc 4% Anaconda Cop.. 32% 32 32% 317* Cal At Hecla ... 9% 9% 9% 9% Cal At Arlz 37% . 37% 37 Cerro de Pasco 24% 24 24% 24% Dome Mines 10% 10 1074 10 Freeport Texas 29% 29% 29% 29'/* Granby Corp ... 15% 15% 15% 16 Gt Nor Ore 20 20% Howe Sound 23 22% 23 23% Int, Nickel 15% 14% 15% 14% Inspiration 8% 8% 874 8 Kennecott Cop.. 24% 23% 24% 34 Magma Cop 21 Miami Copper 8% 8% , Nev Cons 11% 10% 11 Vi 10% Texas Gul Sul.. 47 46% 47 46% U S Smelt 2i% Oils— Amerada 19% Ann Republic 7% Atl Refining ... 20% 19% 2074 19% Barasdall 12% 12% 12% 12% Beason 10 Houston 9 8% 9 8% Indian Refilling 4 3% 3% 3% Mex Sbd 13% 127* 13% 12% Mid Conti ..... 14% 14% 14% 15 Pan-Amer B 13% Phillips 14'i 13% 14% ... Pr OH A: Oas.. 14 13% 13% 13% Pure OH 10% 10 10% 10% Richfield 3% 33% 2% Roval Dutch..-. 38% 38% 38% 38% Shell Un 9 87i 9 8% Simms Pt ... 8% Sinclair lt% 11% 11% 11% Shelly 9'/* 8% 8% 9% Slandarrt of Cal 46% 46% 46% 46% Standard of N .1 47% 46% 47% 47 Standard of N Y 23% 23 23'/* 23% Texas Cos 31'4 31 31% 3174 Union Oil 23 22% 23 23 „ Steels— Am Roll Mills .. 30 28% 29% 39% Bethlehem 4p% 47% 49 49*4 Byers A M 42 50% 42 40% tColo Fuel .23% 23'% 23% 23*4 ! Cruc Steel - 55% ! Inland 60 59% 60 59%

In the Stock Market

(By Thomson & McKinnon! NEW YORK, Jan. 16.—indecision ruled in the stock market today. Prices were governed largely by fitful short covering rallies and scattered liquidation. Market movements were narrow and foreshadowed no particular trend or development in business. Some of the pressure on the market recently seems to be traceable in part to the knowledge that a chart employed by a leading utility corporation to guide its operations indicates that business is at the lowest point of the present depression. Be that as it may, the general impression is that much of the unsatisfactory state of affairs has been discounted. Moreover, some business improvement Is noted. Developments of the day in a commercial way were unimportant. A firmer price tone prevailed in copper metal and advances In retail and wholesale gasoline prices were posted in the eastern territory. Births Girls Otto and Rose Butler. 2202 Roosevelt. Cornelius and Mary McShane, 5338 East Michigan. _ _ Emil and Anna Deuser, 2822 East Twelfth. Fredrick and Mildred Walters, Coleman hospital. Harlow and Thelma Gerrlsh, 124 South Traub. Harry and Josephine Calkins. 1150 Glmber. Tyler and Bertha Charltcn, 4173 Broadway. Leo and Helen Thomas. Methodist hospital. Earl and Esther Cox. Methodist hospital. Carl and Mary Clark. Methodist hospital. Marion and Lorraine Money. Methodist hospital. Stanford and Rosalyn Berg, St. Vincent's hospital. Stanley and Adella Nantz, St. Vincent's hospital. Boys Russell ard Velma Caylor. Coleman hospital. Leo and Cora Docktor. Coleman hospital. Harvey and Jennie Henson. Coleman hosDltal. Leo and Ella Taylor. 222 North Pershing. Lawrence and Laura Jones. 2215 Martindale. Abram and Dorothy Adcock. 29 South Summttt. Lawrence and Freda Young, 816 North Pine. Pete and Mllka Stevens, 3536 West Sixteenth. Arthur and Lillian Whlteley. 26 South Bolton. Harold and Tone Gough. 956 Stillwell. Psu! and Margaret Gary, St. Vincent's hospital. Deaths Eleanor Frentrcss, 80. 1032 South East, arteriosclerosis. Amy I. Lasher, 52, 509 Sutherland. uremia. Eraraa Renner, 73, 759 Berkley road, cerebral hemorrhage. Scot Butler. 86, 124 Downey, myocarditis. Menno Lants. 70, Central Indiana hospital. broncho pneumonia. Emma Stephens, 66, 2434 North Gale, cerebral hemorrhage. Pearl Ewing. 36. Methodist hospital, Hodgkins disease. Katie Valentine, 47. 2234 Gelsendorf. lobar pneumonia. William A. Smith, 81. 807 Chase, pulmonary tuberculosis. Martin Joseph Caylor, 1 hour, Coleman hospital, premature birth. Lee Harrison Powell, 23. 801 Chase, pulmonary hemorrhage Muriel McVay. 39. Washington Bank and Trust Company, acute dilatation of heart. Robert E. Gibson, 11 days, city hospital, jaundice. Harry Morris, 50, city hospital, mitral sterosis. Charlt7 Fires, 72, 713 Drake, acute dilatation of heart. James Hall, 49, city hospital, acute myocraditis. Elzie Webster. 55, Methodist hospital, aplastic leukemia. Clarence Landrum. SO, city hospital, cerebral hemorrhage.

LaCum 13% n% u% 13% Midland ........ 23 21% 23 33% Repub 1A: 8.. 17% ie% 17% 17 U B Steel 141 138% 140% 139 Vanadium ...... 48 46 47% 45% Youngst 8 At W 33% Tobaccos— Am Sumatra g Am TO (A new).106% io6 106% 106% Am To (B new). 109% 107% 108% 108 Genera! Cigar 39% “7** B . 88 86% 'BB 87% 14 * U% 14% 13',-a sfrcom To°b b .:: 43 43 1* b * 10 * Utilities—' Abitlbi ...... . 10% 9% im°r..i t i:- 18% 19% !** a£ 27> 29% 23% A’r V^ [ J c 4 451* 46 4574 £„, T * T..... ..183 179% 182*4 180% E • 34 '* 33% 3474 33% Com As Sou 9 B*4 as. &n pw <k*A u \7/. t* % i* Ift Ilf: 32% PubSer *?■■■'• I*l* 43 *'® 43^ sJ b r^ r JS, J -- Bdljon.. 46', 45% 46% 46 SS*L<2 * E 1.... 60% 58% 60 59*4 m d-. C 2T P , •„••• I* 7 * 18% 18% 18% L A.. 23* 32*, 23 % 23% iwnStaJl' 139? * 138L ‘ Mer M pfd.. . .. isi /2 U Foodi^ Ult •••• 56 54% 55% 55 ' Am Sugar 47 46% 47 Armour A 3*, 3% 3% 3% Beechnut Pkg .. 50 Pkg 45 43 43% 46 Dry, 32 30% 31 31% Childs Cos 28 cSnt Bakmi A:: 1 2 4 ?% '% cm 78 * 77 * Cudahy Pkg 43% *4274 Cuban Am Bug.. .. . 4% roods 50 74 48 % 'so'4 4974 Grand Union.. 10% 10% 10% 11 H erE *V 88 87% 88 88 Kroger 20% 19% 30% 19% ptiisbu ß^ cult ;;:;. 78 * . 77,i W iti'jßrWsV.’.V. 17% 17*4 17% 17% Ward Bkg .. 4% Drugs— Coty Inc 8% 314 8% 8% Lambert Cos. .. 81% 80% 81% 81% industrials— Am Radiator .. 17% 16% 1774 17 Certalnteed 3% 3'* 3% 3% Gen Asphalt . 27 27% Otis Elev 53 y 55 55% 53 Indus Chants— Allied Chem 161 157% 160 157% Com Solv 15% 15% 15% 15% Union Carb 5774 56 57% 56% v s Ind Atco 61 59% Retail Stores— Assoc Dry Gds. 34 Kresge S S 30% May D Store 31 30% Mont Ward ... 17% 16% 17 17% Penny J C 28% Schulte Ret St 4 4 Sears Roe 48% 46V, 47% 47% Woolwcrth ... 56% 55% 56% 56% Amusements— Col Graph ... 8% 7% 8 7%Crosley Radio 47. Eastman Kod ..147% 145% 146% 145% Fox Film A ... 27% 26% 27% 27% Grigsby Gru... 3% 3% 3% 374 Loews 47'/* 46% 47% 46% Parem Fam ... 42% 40% 41% 41 Radio Corp ... 13% 13 13% 13% B-K-O 17 16% 17 16% Schubert as/. Warner Eros .. 15% 14% 15% 15% Miscellaneous— Congoleum .... 8% 7% 8% 8 Am Can 109% 106% 109',4 107% cS?M?*wr 4 !% % 4 & 2713 27 ’* Un Aircraft ... 24% 23% *34% 23%

Indianapolis Stocks

—Jan. 16— American Central Li Inc C0.1.00f> d ’ Asl£ ' lm !tR D R v# Yds Cos com.. 46 51 Bit R R Yds Cos pfd 51 5 Bobbs-MerrlU Cos 25 Centra l Indiana Pw Cos pfd 7s 78Va 83 C rcle Theater Cos com 75... 93 . . Citizens Gas Cos com 105,... 22 Citizens Gos Cos pfd 5s 98 io3 commonwealth In Cos pfd 7s 97 101 Commonwealth In Cos pfd... 100 Hook Drug Cos com Indiana Hotel Cos Clapl com. 125 Indiana Hotel Cos pfd 6s 100 Indnls Gas Cos com 6s 55 60 00 P fd 648.1014 ... , WeI L L Assn com 8s 51 ' ... Indpls Water Cos pfd 5s 101 Interst Pu Ser Cos pr It pfd 6s .. 'BB T Pu Ser Cos pr 11 pfd 7s 96 1014 Metro Loan Cos 8s .... 101 N Ind Pub Serv Cos pfd sVis oi Ind p, l£ ServCo pfd Is 98 102 p?^ h T rn ®l and Pl i, Sv c <> Pfd 7s 105 no Pro* Xsaundry Cos com 31 E Rauh & Son Fertll Cos pfd 6s 47 Terre ds Pwr pfd.. 67 Union Title Cos com 5s 29 34 Van Camp Prod Cos Ist pfd 7s 93 Van Camp Prod Cos 2d pfd 8s .. || Bftck3].T7 A w?i? 0 <S lleß 00 pop*-103 105 Backstay Welt Cos com 124 13 P? a nd, Tine bine Cos.. is’4 10 Link Belt Cos com 28 % 30 Lvnch Glass Machine Cos com. 151a 174 Mead Johnson * Cos com ! 75 784 N Y Central Railroad C0....1164 11814 £wf! t *' s ,S< ar^ s Industrials Inc 41 43 Perfect. Circle Cos c0m..... 25 Real Bilk Hosiery Milis Inc ‘Co 25 28'4 Real Bilk Hosiery Mills pfd.. 83 85 * Ross Gear & Too! Cos ... 204 24 Standard Oil Cos (Indiana)... 354 364 Studebaker Corporation 21 s * 23*. Te^H^: t, : J TT ; c &u co s s .. . . , "Ex-Dividends. Belt R R & Slk Yds Cos 45.. 85 Broad Ripple Trac Cent Ind Gas Cos 5s 102 Citizens Street Railroads 55.. 23 27 Home TANARUS& T of Ft. Wayne 6s. 102 ' ... Ind Railway & Light Cos 55... 94 Indpls Pwr *Lt Cos 100 in 2 Indianapolis Gas Cos 5s 100 102’4 Indpls ft Martinsv Ra Hr Cos 5s 15 jndPjs Aj Northw Trac Cos 55.. 5 Indpls St Ry 4s .15 Indpls Trac & Term Cos ss.'. 424 46 Indpls Union Ry 100 Indpls Water 5s ' 98 Indpls Water Cos 54* 103 165 fndp s Wa Cos Ist Hen & Ref 5s 99 Tndpls Water Cos 44s 9514 Indplr Water Works Sec Co'Ss 89 i'' No Indl Pub Serv Cos 3s 99 No Ind Telepb Cos 65.. . 984 100

Investment Trust Shares

Bv R. H. Gibson & Cos.) —Jan. 16— TRICES ARE TO 12 NOON C. S. T. Amer Founder's Corp com ?%' A | k ' Am & Gen Sec A 13% 141.; Am Inv Trust Shares 5% 5 4 Basic Industry Shares p>: 64 Corporate Trust Shares 54 6% Cumulative Trust Shares 74 7*4 Diversified Trustee Shares A. 16% 17 First American Corn 7*4 ' at! Fixed Trust Oil Shares... 54 6’l Fixed Trust Shares A 15 Inv Trust, .cy 7 g Leaders of Industry Series A.. 8% ... Nation Wide Securities 64 64 National Industry Shares 6V* 6 s * N Am Trust Shares .B*4 6% Pel Am Shares 5 stj Shawmut Bank Inv Trust 8 19 Universal Trust Shares 5% 6’, K W Strauss Inv Units 45 54 Super Corp of Am Trust Sh A 6 3 4 7Vi Fundamental Trust Shares A.. ** 7v. Fundm*ntal Tri'st Shares B 7 7‘A U S JTec light As PWr A 2814 30V*

New York Bank Stocks

(By Thomson & McKinnon) —Jan. 16— Bid. Ask. America 60 63 Bankers 112 M 5 Brooklyn Trust 495 505 Central Hanover 248 251 Chase National 97 100 Chatham Phoenix Natl 75 4 78 4 Chemicel xg 50 City National 95 98 Corn Exchange 125 127 Commercial 2PO 290 Continental 204 234 Empire 574 604 First National 3,925 4.125 Guaranty 477 482 Irving 35 37 Manhattan & Cos 82% 85% Manufacturers 42 s ', 444 New York Trust 148 153' Public 564 59 u-

Net Changes

By United Press NEW YORK, Jan. 16.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange: American Can • 109% otr ' Amer and Foreign Pwr 29% 4 American Telephone 1824 2 Atchison 189 3 Bethlehem Steei 484 Case 84% 2% ... Consolidated Gas 84V* 14 . Elec Power and Light 424 14 General Electric 434 1% . General Motors 36% 4 International Nickel 154 % Kennecott 24% ... Si Montgomery Ward 17 ... V, New York Central 119% 14 ... Penna 604 4 Radio 134 4 ... Sinclair 1134 % ... Standard Oil. New Jersey. 474 4 ... Standard Oil. New York... 334 *4 ... Trans-Amer (unchanged).. 13 United Corporation 18% 4 ... U S Steel 140% 14 ... Vanadium 47% 2 V.’cstinghouse Electric 86% 2% ... NEW YORK COFFEE RANGE High. Low. Close. March 5.93 5.90 5.92 Mav 5.76 September 5.64 5.60 5.64 December 5.56 5.51 5.51 RAW SUGAR PRICES High. Low. Close. January .............. 1.59 ... 1.5S March 1.30 1.29 1.29 May 1.3* 1.36 1J July 1.43 ... 1.43 September 1.61 I.M 1.50 Deeetabw 1.6* LIT 1.57

THE INDIANAPOLIS TIMES

PORKERS UP 5 GENTS; CATTLE PRICES STEADY Sheep, Lambs Sell Higher; Vealers Unchanged at sll Down. HOGS Jan. Bulk. Early Top Receipts. 9. $7.60® 8.15 $8.15 6.000 10. 7.60a 8.30 8.15 3,000 12. 7.55® 8 25 8.25 5.000 13. 7.8044 8.55 8.55 6.000 14. 7.73® 8.40 8.40 8,000 15. 7.604a 8.30 8.30 6.500 16. 7.65® 8.35 8.35 5,000 Hog futures today at the city stockyards showed signs of small gains, with all prices ranging 5 cents higher than Thursday’s best time. The bulk, 100 to 300 pounds, were sellnig at $7.65 to $8.35. Receipts were 5,000. Holdovers, 158. Cattle market about even, with a few slaughter classes of steers slow and steady; killing quality was mostly common and medium steers. Receipts 500. Vealers were unchanged. selling at sll down. Receipts 400. Sheep and lambs held around 25 cents higher, wtih a good and choice grade of lambs selling at $8 to $8.50. Receipts were estimated at 1,200. Chicago hog receipts 40,000, in-’ eluding 22,000 directs. Holdovers, 8,000. Very little done, generally asking 10 to 15 cents higher than Thursday's average, few early bids steady to strong. Choice of 190 to 210 pounds sold at $8 to SB.IO. 160 pound weights were selling at $8.15, 240 pounders sold at $7.60 to $7.65. Cattle receipts 1,500. Calves, 1,000, and strong. Sheep receipts 7,000, and 25 cents higher. HOGS Receipt*, 5,000; market, higher. —Light Lights—-(l4o-160) Good and choice ... $8.30 —Light Weights—-(l6o-180) Good and choice ... 8.35 (180-200) Good and choice ... 8.25 —Medium Weights—-(2oo-220) Good and choice ... 8.05® 8.15 (220-250) Medium and good.. 7.85® 8.05 —Heavy Weights—--1250-290) Good and choice ... 7.65® 7.85 (290-350) Good and choice ... 7.45@ 7.65 —Packing Sows—-(27s-500) Medium and g00d... 6.00@ 6.75 (110-130) Slaughter pigs 8.30 CATTLE (Slaughter Class) Receipts, 500; market, steady. Good and choice $11.00%13.50 Common and medium [email protected] (1.100-1.500) Good and choice [email protected] Medium 7.00$ 10.50 —Heifers—-(soo-850) . Good and choice 8.50®11.50 Common and medium 5.00® 8.50 Good and choice 5.50® 7.50 Common and medium 4.00® 5.50 Low cutters and cutters 2.75® 4.00 —Bulls (yearlings excluded) — Good and choice beef 4.50® 4.50 Common and medium 3.00® 4.50 CALVES AND VEALERS Receipts, 400; market, steady. Good and choice [email protected] Medium 6.00® 10.50 Cull and common.. 4.00® 6.00 —Calves—-(2so-300) Good and choice 6.00® 9.50 Common and medium ....... 3.50® 6.00 STOCKERS AND FEEDER STEERS Good and choice $ 6.50® 8.50 Common and medium 4.50® 6.50 (800-1,500) „ Good and choice 6.50® 8.50 Common and medium ....... 4.7a® 6.50 SHEEP AND LAMBS / Receipts., 1,200; market, higher. Good and choice sß.oo® 8.75 Common and medium 6.00® 8.00 —Ewes — Medium and choice Cull and common I.oo® 2.50

Other Livestock Bv United Preta CHICAGO. . Jan. 16.—Hogs—Receipts, 40.000, including 22,000 direct; active. 10® 15c higher than Thursday's average; top. $*8.25 for choice 130-200 lbs.; bulk 130-210 lbs. $8.10(38.25; 220-300 lbs., $7.40®8; Digs, mostly sB@B 25: packing sows. $6.55®6.75; light lights. 140-160 lbs., good and choice. $8.15(38.25; lightweights. 160-200 lbs., good and choice. SBS-8.25; medium weights, 200250 lbs., good and choice, [email protected]: heavy’ weights. 250-350 lbs., good and choice. 57.18®7.75; packing sows, 275.-500 lbs., medium and good. $6.35(36.85; slaughter pigs. 100-130 lbs., good and choice, $7.75 3 8.25. Cattle—Receipts. 1,500: calves, 1,000; steer and yearling trade slow at Thursday’s 25c downturn; very little here: bulk common and medium grades selling at *7.50 39: best around $10: she-stock trade 25c or more lower; light yearling heifers sharp decline: other classes steady; slaughter cattle and vealers: Steers, 600-900 lbs., good and choice, $9.75314.25; 900-1.100 lbs., good and chdice. $lO3 14.25; 1.100-1,300 lbs., good arid choice, slo<9> 14.35; 1.300-1,500 lbs., good and choice. $10@14; 600-1,300 ibs., common and medium, $6.50310; heifers, 550-850 tbs., good and choice. $7.50311.50: common and medium. $537.50; cows, good and choice. ss@7; common and medium, s4@s; low cutter and cutter. $334; bulls, vearlings excluded, good and choice beef, $536.25; cutter to medium. *435.40; vealers milk fed. good and choice, [email protected]; medium, $7.50@9; cull and common, ss@ 7,50; stockers and feeder cattle: steers, 500-!,050 lbs., good and choice, s7@9; common and medium, $5.5037. Sheep—Receipts. 7.000; strong to 25c higher; advance on fat lambs; good to choice, [email protected] to packers: early top to shippers. $8.75; some held higher; native ewes, [email protected]; feeding lambs, nominal; slaughter sheep and lambs; iambs, 90 lbs. down, good and choice, $838.85: medium. $6.75@8; all weights, common. $5.75 36.75; ewes, 90-150 lbs., medium to choice, [email protected]; all weights, cull and common. [email protected]; feeding lambs, 50-75 lbs,, good and choice, $737.75. Bv United Press CLEVELAND. Jan. 16.—Hogs—Receipts. 1,000; holdover. 296; active, steady to strong; spots around 15c higher: bu!k 210 lbs. down und load around 214-lb. average. 58.30; 220-250 lbs. sorts. $8.10: 260-300 lbs. downward 10 $7.85. Cattle —Receipts, 150; steady; scattered common to medium steers and heifers, $6.50@8; low cutter and cutter cows, $2.5034. Calves—Receipts. 200; draggv. weak to 50c lower; good and choice vealers. $11.50312; very sparingly to $12.50; common to medium around $9 @ll. Sheep—Receipts. 500; active: mostly 25c higher on fat lambs; bulk to $9; top. *9.25; others steadv; most throwouts, $73 7.50; cuHs downward to $6. Bv United Press EAST BUFFALO. N. Y.. Jan. 16.—Hogs— Receipts. 2.800; holdovers. 800; active, mostly to packers, generally 15c higher, bulk desirable. 170-200 lbs.. $8.75; 210-220 'bs.. $8.60 38.65 ; 220-250 lbs.. [email protected]; 340 lbs.. $7.50: 160 lbs. down. [email protected]. Cattle—Receipts 250; holdovers. 200: virtually nothing done on steers and heifers, tending lower cows weak t0,25c lower; cutter grades. *2.5034. Calves—Receipts. 700: vealers fairly active, steady to week's full decline. sl2 down. Sheen —Receipts. 2.400; lambs active, rather uneven, mostly steadv to weak: good to choice. °0 lbs. down. $9.25; one load outstanding. 85-lb. weights. $9.50; medium kind" and strongweights. [email protected]; throwouts, $7.50. By United Frees Pittsburgh, Jan. 16.—Hogs—Receipts, 2,000; holdovers, 750; market,- 10315 c higher; 130-210 lbs., $8.60 38.75; 220-250 lbs.. *8.253 8.50 : 250-300 1b3., *[email protected]; packing sows steady; good grade, $6.50@ 8.75. Cattle—Receipts. 25; market, about steady: calves, receipts, 100; market, steady; good and choice vealers, *lo@l2. Sheep—Receipts, 800: market, generally 25c higher; choice handyweights, lambs. $9.25; medium to good up to $8: good yearlings, $6.25; aged wethers up to $5. By United Press EAST ST. LOUIS. HI., Jan. 16—Hogs— Receipts, 12.500; market, fairly active, 153 20c higher; others slow. $lO up: top. $8.45: bulk 140-210 lbs., $8.2538.40; few 220-240 lbs., *7.8538.15; 260-300 lbs., *7.50 3 7.65, 100-130 lbs.. $7.25 38; sows, [email protected]. Cattle—Receipts, 800; calves. 500; market slow. generaHy steady under light receipts: not enough steers on sale ;o make a market: mixed yearlings and heifers, [email protected]; co#s largely $4.5035.25; low cutters. $2.7533.25; medium bulls. [email protected]; good and choice vealers, sll. Sheep—Receipts, 1.800; market, fat lambs, steady to 25e higher; toj) to city butchers. $8.75: bulk. $8.2538.50; throwouts, *s@6; fat ewes, *3.75 down. Bv Times Special LOUISVILLE, Jan. 18.—Hogs—Receipts. 1.000: market 10c higher; 300 lbs. up. *7.50; 225-300 lbs.. *7.85; 160-225 lbs.. *8.25: 130160 lbs.. *7.35; 130 lbs. down. $7.25; roughs. $6.25: stags. $5.25. CatUe—Receipts. 100; market steavd: prime heaw steers. $8,503 10: heavy shipping steers. *7.2538.50; medium and plain steers. [email protected]; fat heifers. *7310; common to medium heifers. 5* S 6.50; good to choice cows. *4.5035.50; medium to good cows. *3.7534.50; cutters. $3.2533.75: canners. *233; bulls. $3.50@ 5.50; feeders. $6.50,37.50: stockers. $436: medium to good feeders. *5.5026.50. Calves —Receipts, 200: market steady; good to choice, $8@!0; mediums, $5.5087; common to medium. $3.50@5. Sheep Receipts. 50; market steady; ewe and wether lamb*. *8: buck lambs. *7; seconds. *5 down; clipped sheep. s2 @3. No shipments Thursday.

Dow-Jones Summary

LONDON—New York cables opened at 85 7-16 against 4.85 13-32; Paris checks. 123.87; Amsterdam. 13.067; Italy, 82.755, Berlin. 20.43. National Tube Company subsidiaries of United States Steel Corporation gets order for 800.000 tons of seamless pipe. White Rock Mineral Springs fourth quarter net $1.16 a common share against $1.20 a share In like 1829 quarter: for twelve months $4.70 a share against $4.36. United State* and Foreign Securities 1930 net equal to 55.58 a share on first preferred against $9.91 a common ahare in 1929; liquidating value of common $9.40 a ahare against $30.57. Alfred Decker and Cohn Inc., year ended Oct. 31. net loss *268.181 after charges and depreciation as against net Income of $2.63 a common share In preceding year. Federal Light and Traction and subsidiaries twelve months ended Nov. 30. profit $2,211,981 after taxes, charges and preferred dividends of subsidiaries, but before depreciation, against $2,046,929 In preceding twelve months. November profit $239,545 before depreciation, against $230,950 In November, 1929. State Street Investment, Corporation 1930. profit $452,022 after expenses and taxes, out before loss from sale of securities against profit of $240,230 In 1929. Common stocks costing $13,122,953 at year end had market value of $8,061,038 and preferred stocks costing $260,712 had market value of $239,500. Liquidating value $65.17 a share against $87.94. Volume of bankers acceptance outstanding on Dec. 31 was $1,555,966,201. a decline of $15,451,473 from Nov. 30, and compares with $1,732,436,388 outstanding on Dec. 31. 1929. Average daily volume of federal reserve credit outstanding during week ended Jan. 14 was $1,175,000,000, a decrease of $130,000,000 from preceding week and $188,000,000 below like 1930 week. Bills discounted declined $49,000,000 from week ago and $127,000,000 from year ago to $243,000,000. Bills bought declined $60,000,000 and $127,000,000. respectively, to $196,000,000, and United States securities declined $15,00,000, and increased $165,000,000. respectively to $644,000,00. Loans on securities by New York city member banks. $3,124,000,000 against $3,233,000.000 a week ago. All other loans $2,454,000,000 against $2,425,000,000. .Total loans $5,577,000,000 against $5,858,000,000. United Paperboard Company. Inc., six months ended Nov. 29 loss $92,485 after expenses, but before depreciation, against profit $253,172. before depreciation and federal taxes In six months ended Nov. 30. 1929. . Mohawk Investment Corporation 1930 Srofit $111,546 after expenses and taxes, ut before loss from sale of securities, against profit of $68,748 In 1929; common stocks costing $3,700,724 at end of year had market value of $2,268,482 and preferred stocks costing $104,288 had market value of $97,500- liquidating value $43.07 a share against $60.54. Market value-of bonds listed on Stock Exchange as of Jan. 1. 1931, was $47,384.805.889 against $47,959,730,628 as of Dec. 1. 1930. European Electric Corporation. Ltd., in period from Feb. 3. 1930. to Dec. 31, had net Income of $1,493,409 after interest and taxes. Surplus after dividends was $638,400. Brokers' loans declined $59,004,000 in week to $1,820,000,000; non-brokers loans declined $35,000,000; reserve system ratio 79.3 per cent against 76.3 per cent week ago and 75.4 per cent year ago. New York ratio 82 per cent against 78.8. per cent and 71.6 per cent, respectively. No announcement on rediscount rate now at 2 per cent. Pierce Petroleum Corporation declared dividend of 10 cents on common; three months ago Initial 10 cents dividend was paid. Internationa! Mercantile Marine declared dividend of SI; in 1930 company paid dividends of $1 on Feb. 15 and Aug. 15. A. Stein & Cos. declared regular quarterly dividend of 40 cents on common.

Produce Markets

Eees (Country Run!—Loss oil delivered in Indianapolis. 20c: henery quality No. 1 25c; No. 2. 15c. Poultry -(Buying. Prices'—Hens welching 5 lbs. or over. 17c: under 5 lbs.. 15c: Leghorn hens. 11c: springers. 5 lbs., or over. 16c: or under 5 lbs.. 15c: ducks, springers. 11c; old cocks. 9@llc; ducks, full feather fat white, lie; geese, lie. These prices are for No. 1 too auaiity auoted by Kingan & Cos. Butter (wholesale)—No. 1. 31@33c: No. 2. 29 @ 30c. Butterfnt—2sc. Cheese (wholesale selling orice per pound)—American loaf. Sic: pimento loaf. S2cc: Wisconsin firsts. 27c; Longhorns. 34c: New York Limberaer. 36c. Bv United Press NEW YORK. Jan. 16.—Potatoes—Market steady; Long Island. [email protected] barrel: southern, 6$ barrel; Maine. [email protected] barrel; Idaho, 45c@$3 sack: Bermuda. $7 @9 barrel: Canada. [email protected] barrel. Sweet potatoes—Market, quiet; jersey baskets. [email protected]; southern baskets. sl@2. Flour—Market, dull and eay; spring patents. [email protected]. Pork —Market, quiet: mess. $28.50. Lard—Market, easier; middiewest spot. [email protected]. Tallow —Market, quiet: special to extra. 4’/@4%c. Dressed poultry—Market, fairly active; turkeys, 30 @44: chickens, 20@39c: capons, 25@44c; fowls, 14@28c: ducks. Wa 23c; Long Island ducks. 22@23c. Live poultry—Market, quiet; geese, 13@22c; ducks. 14® 28c; fowls. 18@26c; Turkevs. 35@40c; roosters. 12@13c; chickens. 18@26c: capons, 27@35c: broilers. 30@40c. Cheese—Market, steady; state whole milk, fancy to speciais, 18@ 22’/ac; young Americas. 17!a@20c. By United Press CINCINNATI. 0„ Jan. 18.—Butter steady; creamery in tub lots to score 23® 26c; common score discounted 2@3c; packing stock No. 1. 20c: No. 2,13 c: No. 3, 10c: butter fat, 21@23c. Eggs steady; cases included; extra firsts, 27c; firsts. 22c; seconds, 30c; nearby ungraded. 25c. Live Poultry—Thin and stock sells only at heavy discount; fowls, 51bs. and over, 20c; 4 lbs. and over, 20c; 3 lbs. and over, 18c; Leghorns 3 lbs. and over 14c; roosters. 13c: capons 8 lbs. and over 32c: under 8 lbs., 28c; slips. 21c; stags, 16c; colored fryers over 3 lbs., 25c: over 2 lbs., 27c; Leghorns and Orpington fryers over 21bs., 22c; roasting chick3 4 lbs. and over, 21c; black springers, 15c. By United Press CLEVELAND. Jan. 15.—Butter—Extras, 27V*c; standards, 26 3 /<c. Eggs—Extras, 23c; firsts. 28c. Poultry—Heavy fowls. 21c; medium. 17@18c: Leghorn fowls, 16® 17c; heavy broilers. 23@25c; Leghorn broilers, 15c; ducks. 25c; old cocks. 13c; stags, 20c; geese. 15@16c; capons No. 1. 28@33c. Potatoes—New York Round Whites. *2.25 per.lso-lb. sack: Maine Green Mountain, [email protected] per 120-lb. sack: Idaho Russet, [email protected] per 100-lb. sack. By United Press CHICAGO. Jan. 16.—Eggs—Market. £cgk: receipts. 9.375 cases; extra firsts, 21@22c; firsts. 20c; ordinaries, 17@19c; seconds. 12@15c. Butter—Market, firmer; receipts. 8.318 tubs; extras. 27Hc; extra firsts ,26g26V a c: firsts. 24 1 i@25 1/ ac; seconds. 23@24c; standards. 26 3, c. Poultry— Market, steady; receipts. 2 cars: fowls. 20c; springers. 21c: Leghorns. 15c; ducks, 23c; geese. 14c: turkeys. 22@25c; roosters. 14c. Cheese—Twins. 15’4@15’/ic; young Americas. 16c. Potatoes—On track. 184; arrivals. 134; shipments. 844: market, slightly weaker: Wisconsin sacks Round Whites. [email protected]: Idaho sacked Russets. *[email protected]; Colorado McClures, branded, *1.85 @1.95. Other Livestock By United Press CINCINNATI. Jan. 16.—Hogs—Receipts, 4.100. including 1.500 direct; holdover. TOO; fairly active, strong to 10c higher: better grade 150 to around 210-lb. averages, largely *8.50: 225-350 lbs.. 58®8.35; some 265-290 lbs. *7.50(37.75: 310 lbs. downward to *7.25; 120-140 lbs., mostly $8.25: sows steady; bulk. $6.25; heavyweights. $6. Cattle—Receipts. 500; calves. 250: inbetween grade heifers relatively numerous: few early sales weak at [email protected]; closing trade mostly 50c lower; some loads without bid; steers very scarce: slow; other masses about steady; most beef cows. $4.75 @0.50: tow cutters and cutter cows. *3.75@ 4; bulls. $5.75 down; vealers steadv with weaker undertone late; good and choice. $10@11: lower grades. $9.50 down. Sheep —Receipts. 200; generally steady: better grade naadyweight lambs. sß.s©@9: common and medium. $6.5037.50; fat ewes, *2 8 3. By United Press FT. WAYNE. Ind.. Jan. 16.—Hogs—Market steady: 100-140 lbs.. $7.90; 140-180 lbs.. $8.10: 180-200 lbs.. $8; 200-225 lbs.. *7.85: 225-250 lbs.. *7.70: 250-275 lbs.. *7.55; 275300 lbs.. *7.45 : 300-350 lbs.. *7.30; roughs. $6.25; stags. (4.50; calves, *10.50; lamos, *B. By Times Special TOLEDO. Jan. 16.—Hogs—Receipts, 300: market. 10825 c higher; heavies. *7.50@ 7.75; mediums. S7.<s@B: Yorkers. SB,lo@ 8.25: pigs, *[email protected] Cattle—Receipts, light; market. 50c tower than Monday. Calves—Receipts, light; market. 50c to 75c tower for week. Sheep—Receipts, light; market. 25c to 50c higher: top 58.50.

Local Wagon Wheat

City grain elevators are paying 70c for red whaat and We for Ko. 1 hard

JOB INSURANCE BILL IS GIVEN STATESENATE Holmes Measure Carries Emergency Clause Calling for Prompt Action. Senator C. Oliver Holmes (Rep., Lake) Introduced his unemployment insurance bill in the senate Friday with an emergency clause calling for prompt action and making the bill effective immediately upon passage. The bill was assigned to the committee on labor, of which Senator Roscoe Martin (Rep., Casa and Fulton) la chairman. Under provisions of the measure, employes will create the unemployment insurance fund by contributing \Vz percent of their weekly or monthly pay roll fetal, thus creating a reserve similar to that by which industry now pays dividends in slack times. Employes, after the fourth week out of employment, may collect benefits not to exceed $lO weekly. The only cost to the state will be the administration through the state industrial board. Benefits will not be paid for more than thirteen weeks of any one year and, to collect, the employe must have had at least weeks work in the industry during the two years previous to the lay-off. The $lO weekly may be obtained by those over 18 and $5 for those under 18, or the latter may collect 60 per cent of their weekly pay if it is less than $5. Holmes’ bill was drafted on the lines laid down by the American committee on labor legislation. It differs from the so-called “dole system," in that the state does not make the payments from taxation. The bills fostered by the Indiana Bankers’ Association also were introduced in the senate today by Senators Winfield Miller and Robert L. Moorhead (Rep., Marion). One will limit the deposit liabilities of a bank to not more than ten times the capitalization and the other makes bank holding company stockholders liable in the same manner as bank stockholders. SALES BREAK RECORD Stutx Production Shows Increase Over Previous Year. Sales of Stutz motor cars at the New York automobile show totaled sixty-three, establishing anew high record, according to E. S. Gorrell, president of the company. This compares with the previous high show sales record of thirty-eight cars, established in January, 1927, For the year 1930 the company sold at wholesale 712 cars and at retail 1,321 cars and stock of new cars in the hands of dealers currently total 138, compared with 774 a year ago. Marriage Licenses Minor J. Ridenour. 24. of 1909 Norland, clerk, and Thelma L. Davidson. 19. of ISO 9 Nowland. bookkeeper. Joseph L. Lynn. 30. of 3015 North Illinois .salesman, and Margaret E. South. 24. of 2623 North Illinois, cashier. Charles N. Burns. 22. of 1648 Rochester, electrician, and Helen G. Louis. 18, of 1648 Rochester. Charles R. Wright, 21. of 3445 Guilford, engineer, and Helen C. Crabb. 23. of 642 : East Forty-ninth. Mtchael B. Donohue. 43. of Stockwell (Ind.) - merchant, and Eva V. Cornwell. 43. of 627 Russell, clerk. Alonzzo C. Ratcltdde. 23. of 33'7 Kenwood. bookkeeper, and Mary H. Bader, 24, of 521 West Forty-first, saleswoman. John R. Lowther. 25. of 4806 Winthrop, pharmacist, and Helen J. Carter, 21. of 1650 North New Jersey. Theodore Bonner. 21. of 708 Edgemont, laborer, and Una L. Branham. 19. of 1008 West Michigan. Flovd L. Caldwell. 24. of 321 West Michigan. mechanic, and Elizabeth Harris. 19. of 9G2% Indiana.

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Tha market sold off slightly in the early trading, later becoming stronger and in several Issues prices advanced above Thursday’s clewing prices. The market continued dull with better than usual trading in Noblitt Sparks and Cord, which was well taken at firm prices as was Houdaiile Hershey and Borg Warner at better prices. However, rallying tendencies showed no ability to assume important proportions as yet, and there is nothing in the situation to suggest any immediate change in the irregularly lower trend of the past week. •—-Jao. 16— * TOTAL SALES 101,500 SHARES High. Low. Laat. Allied Motor Ind 1% Amer Equities 5 Assoc Telephone Util... 22% 21% 22 Ber.dix Aviation 18*4 11% 18*4 Borg-Warner 22% 21% 22’* Butler Bros 6% 5% 6 Ceco Mfg Cos 4 Cent 111 Securities 24 23% 24 Cent Pub Serv Class A 17 16*4 17 Cent &So West 19% 18% 19% Cities Service 16*4 15% 18% Commonwealth Edi50n..234% 231% 232% Continental Chicago ... 6*4 6% 6% Continental Chi pfd... 37% Cord Corp 6% 6% 6% Corp Securities 17 16% 17 Corp Securities ctfs .... 55 52 So Electric Household 241* 24% 24% General Theater Equip 10% 8% 10V* Gleaner 4% 3% 4% Grigsbv-Grunow 3% Houdallle-Hershev A 14 12% 13% Houdaille-Hershey B 5% 5 5 Tnsull Util Invest 34% 33% 34% Insull U Inv pfd ex-war 84 82 84 Iron Fireman 15% Kalamszoo Stove 33 32% 33 Kellogg Switch com 4 Ken Rad Tube & Lamp. 3% Llbby-McNeil 10% Corp 16% Majestic HseJold Util.. 4% 4% 4% Marshall Field 26% 25% 25*4 Middle West Utilities.. 20% 19% 20'% Midland Nat Gas “A".. 21 20% 21 Mo-Kan Pipe Line 6% 6% 6% National Family Stores. 5% 5% 5% National Sec Invest ... 5 Natl Sec Inv ctfs 64% Noblitt Sparks Ind Inc. 42% 42 42% No Amer Light & Pwr.. 62% Pines Wlnterfront 17% 17 17% Raytheon VTO 5 ' Seaboard Utilities Sha. 4 3% 4 Standard Dredging Cos.. 7% Steinite Radio % Swift &Cos 28% 28% 28% Swift Internacional ... 35% 35 35 Ten Products C% U S Radio & Te 1.... 16% 15 16% Utah Radio 2% Utility & Ind 6% W Utility & Ind pfd 17% Wextark Radio 1% COTTON

In the Cotton Markets

(By Thomson & McKinnon) NEW YORK, Jan. 16.—Cotton prices were a shade better this morning, but there was not enough change in the market to attract the attention of any other than professional Interests. Textile affairs, the world over, as gathered by consular agents, seem to be in a stabilized condition. The low price at which cotton is selling has probably discounted all unfavorable factors. Inactivity on the various exchanges testifies to the same effect. We cannot look upon cotton as a sale from a long time point of view. In the first place, no merchant who is unembarrassed by accumulated stocks will sell an article below replacement cost. As it stands today, as far as the manufactured article is concerned, stocks are lower probably than ever before. Given a general improvement in business, and higher cotton prices are almost sure to follow. CHICAGO Hish. Low. Close. January 19.05 March 10.29 10.25 10.27 Mav 10.56 10.48 10.53 July 10.76 10.70 10.73 October 10 90 10.86 10.88 NEW ORLEANS —Jan. 16--High. Low. Close. January 10.02 9.98 1 0.00 March' 10.22 10.12 10.19 Mav 10.46 10.38 10.43 July 10.68 10.58 10.64 October 10.81 10.75 10.80 NEW YORK High. Low. Close. January 10.07 9.99 10.07 March' 10.24 10.15 11.20 May 10.47 10.38 10.45 July 10.69 10.60 10.65 October 10.85 10.79 10.80 December 11.00 10.12 10.95

PAGE 11

WHEAT MOVES DOWNWARD ON WEAKSUPPORT Free Short Covering Forces Grain Futures Down Near Close. Bp United Prcst CHICAGO, Jan. 16.—Successive waves of selling hit the old crop months on the Board of Trade today as a result of the recent free short covering which weakened the technical position of the market and prices dropped sharply. Commission houses were on the selling side of July, and that month went down with the stabilized deliveries. There was no support, strrfy buying orders met the decline, but rallies could not be held. The weakness spread to the corn pit where prices slumped heavily, but recovered. Oats sold lower in sympathy with the major grains, but steadied with corn. At the close wheat was 1H to IS cent lower, with July 1 cent off: corn was to cent lower, and oats were cent lower to H cent higher. Provisions were steady to strong, lard advancing with hog prices. Liverpool held around steady at the early decline and closed \ to 4 cent lower. Buenos Aires was off to cent at mid-day. Winnipeg was off a fraction, but some Canadian wheat was'sold for .export overnight. Cash prices were 1 to 2 cents lower. Receipts were 109 cars. Com was steady at the start, but the weakness in wheat and pressure from commission houses dropped the market around 14 cent at midsession. 'Hie feeding demand has lessened owing to the unseasonably high temperatures. Buenos Aires com is selling around 30 cents, a fact that is attracting attention. There was some buying on the decline, but no disposition to rally was shown. Cash prices were % to T 4 cents lower. Receipts were 116 cars. Scattered selling in oats dropped prices around % cent in that pit at the start where the market hung at mid-moming. Selling was ascribed to liquidation by longs. There was some support on resting orders and by shorts, but traders were discouraged.

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