Indianapolis Times, Volume 42, Number 218, Indianapolis, Marion County, 20 January 1931 — Page 12

PAGE 12

UNITED STATES STEEL LEADS ISSUES HIGHER Rail Shares Move Upward on Strength of New York Central.

Average Stock Prices

Average of thirty Industrial* for Monday was 181.46. off 1.44. Average of twenty .ails was 103 63, up .22. Average of -.enty utilities was 59.71. off 39. Average of forty bonds was 96.39 unchanged. r.j Lnitcd Press NEW YORK. Jan. 20.—United Slates Steel featured a firmer stock opening today and continued to rise in the early trading. The whole list participated in the advance which was helped by short covering. Steel opened at 139%, up %. and then rose to 140. Other leaders followed. Ralls improved with New York Central up I A, at 1184. General Electric opened 7,000 shares at 41%, off %, on a sharp reduction in 1930 sales, but It soon made up the initial loss. Copper shares gained with Anaconda up %, at 33, and American Smelting up 4, at 42%. American Can rose a point to 108, American Telephone %, to 182%; Standard of New Jersey %, to 464, and United Aircraft 4, to 24. General Motors was Arm in the automobile group, while Warner Brothers moved up slightly in the amusements. National Biscuit rase nearly a point in the food division as traders anticipated a favorable earnings report for the year 1930. During early trading volume of business fell off slightly, but prices held well and many moved above ihe opening levels. Steel held around 140. General Electric, Westinghouse Electric, American Can and several special issues made fair gains. Worthington Pump rose a point to 63 and Loew's 1% to 474. New York Central continued to move ahead, stimulating buying in other railroad shares, including Pennsylvania railroad and Allegheny Corporation Auburn auto opened at 105, up 4, and then rose to 106%. Other motor shares held firm. Oil stocks were fractionally higher, helped by an increase in gasoline prices by Standard Oil of New York, following the recent advance by other companies operating on the eastern seaboard.

Bank Clearings

INDIANAPOLIS STATEMENT —J&n. 20 ■ ■ Clearings $2,657,000.00 Debits 6,449,000.00 CHICAGO STATEMENT —Jan. 20. Clearings $76,100,000.00 Balances 7,400,000.00 TREASURY STATEMENT —Jan. 20Net balance (or Jan. 17 $161,535,759.55 Expenditures 8,276,370.81 Customs rects. month to date 15,914,293.33

Net Charges

Ry United Press NEW YORK. Jan. 19.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follows: Up. OfT. American Can 107 ... ‘a American Telephone 181 % ... 1 . Anaconda 32% Bethlehem ex-dlvldend 46% ... % Case 83 ... 1 Consolidated Gas 83 % ... % Brie 30 % ... General Electric 42 ... % General Motors 36% Va ... Gillette 24% ... 3!i International Telephone... 22% % ... Kennecott 24 ... -'/a National Biscuit 77% . 1% N Y Central 118 % North American 66 % ... Phillips Petroleum 12% % ... Radio 12-/S ... % Sears Roebuck 47% % ... Standard Oil N J 46Vs ■ • % Standard Oil N Y 23 Vi ... Texas Corporation 31% % ... United Corporation 18 a U S Steel 139 ... % Westlnghousc Electric 83% ... 1%

New York Bank Stocks

■By Thomson <fc McKinnon' —Jan. 19— Bid. Ask. America 60 63 Bankers 11l 114 Brooklyn Trust 495 000 Central Hanover 243 248 Chase National 95% 98% Chemical 47 49 CltV National 94% 97Vs Com Exchange 122 126 Commercial 280 295 Continental 20% 25% Empire 57 60 First National 3.92a 4,123 Guaranty 474 4'u Irvine 35 37 Manhattan <t Company. 82°,a 80% Manufacturers 42% 44% New York Trust 149 154 Public 57 60 EINSTEIN THEORY IS LAUDED IN RADIO TALK Kamo us Scientist Says Speech Best He Ever Heard on Relativity. By United Press \ PASADENA. Cal.,' Jan. 23.—'The Einstein theory of relativity was accepted whole-heartedly and the rival theory of the Dutch physicist, De Sitter, was disapproved of in a radio speech last night by Dr. Charles E. St. John, atrophyicist of the Mt. Wilson observatory. Dr. Einstein said it was the best talk on the subject of his theory' he ever had heard. The German smiled as Dr. St. John's remarks were translated for his benefit, for it meant that the only theory which opposed Ills own and one which had been favored by many other scientists had been discarded as valueless by one of the most noted groups of astronomers in the world. MASTODON BONES^FOUND .Skeletons of Ancient Animals Discovered by Explorers. By United Press QUITO, Ecuador, Jan. 20.—Discovery of the almost complete skeletons of a mastodon, a ground sloth, pre-historlc horses, camels, deer and a variety of rodents was announced Monday by J. C. Blick and C. H. Falkenback, exploring Ecuador for one of the directors of the American Museum of Natural History. The skeletons were found about fifteen miles from Quito. Listens to Radio, Shoots Seif By United Press LOS ANGELES, Jan. 20.—After hearing a radio announcer say that suicide “mice was considered a virtue,” Ralph Brady, 16, asked his father “why isn't it now," then went to his rewn and shot himself to death.

New York Stocks ————— IB v Thomson A McKinnon!

-Jaa. 20— _ Prev. Railroad* — High. Low. UJO stopAtcoison i7, 18* a 187 ,a ah coast Line . .. ••• ••• ***., wait Ohio .. .6% \y <•* '■* Chesa & 0n10... 40la 40 40‘a *9 uneaa corp 44 . 44 48 8* ::::::: '• ** o*l je Hudson •• trie ■* -o trie Ist piu i*4 •• •£* oreat Nortoern. 63 ;* *s% 64'.* 04,a uult Moo A Oil. 19 i*Va i Illinois Central .. . • LOU 41 Nwo • IW% - UK* i awa ->• 44% oto Paclnc 4i>*4 4j% 4a‘ra ... Mo I’acuic pld.. .. ... ••• -*'• ti Y Central . ..lkU% IU% 120 I*6 Nickel Plate ■ ■ • ••• N1 MH H Nor Paclnc ! S4‘/s aJ% Mi Norfolk & West 400 Pere Marq • Pennsylvania ... 60% 69% 60Va 49/2 Reading 8b ... beaooard Air L 1 1 oo paclnc l°w% ooutnern Ry -b% .>9 o 9 ot Paul '<% j at Paul pta 12% *2% lira 11% ot L 6l a t‘ emon Pacific.. Wabash 24% 32% 48% 24 tV Mary Una .... i5% 14% l% Equipment*— Am car oc Fdy. 33 32% 324 32/a Am Locomotive t‘4_ 44 Vs Am aieei Fa ... 2j% 204 ~'o% 46.2 Am Air Brake S.. ~ 34 Gen Am lank. 004 00 aoU J <*% General Elec ... 424 41% 42% <2 Gen Ky signal 64% N Y Air Brake 24 Pullman '. 624 VVestingn Ar B. 44 44 434 Westingn alec.. 644 834 84% 84% Rubbers — Firestone ...... .. ... ... 17% risk. ,4 Goodncu .10, *94 Gpofiyear 41% *U: 41% 4l„ Kelly tiprgfld .... 1"* u a Ruboer 12 12% Motors— • Auburn 107 1044 107 104',2 Ctirysier io c ,i 1072 *6 *o;. Gardner • 14 Graham Paige.. 4% 4 4 4% General Motors. 3b% 36% 464 Jo" Hudson 2 '24 227* 42 -ft 22-,* Hudd ~. 8 8 Muck . • 38% 3/4 Marmou - .. • , Nash 30% 60V 40% 31% Packard 9% 9% % Pierce-Arrow ... 20 Reo n% 9 9 9 btudeDuker 22% 214 2i% 22% Yellow Truck... t>‘,2 94 9“* 972 Motor Access— Benoix Aviation 19 18 J 19 18% Bore Warner. .44 44 44 42 Briees i'i% r'*% r/% 17 tiudd Wneel.... 10t* u“ rO% av"a Baton ■ • • 13% El Storage B .. 63% a4 Haves Body ... b% a% 4*,2 o Houaa BV# !> 9% 87* Motor Wneel... 15% . 16% I>>% BDarks-W 9% Stewart Warner ~ 11% Tlmklll Roil.. • 44% 44 44% 436/4 Mining— Am Metals , 17% Am Smelt 43 42% 43 42% Am Zinc ••• ' 6, Anacnoda Cop. 38% 324 33 427* Cal <sc Hecla ... 9% 9% Cal & Arlz 37% . Cerro de Pasco. .. ... ... 234 Dome Mines 10% 30 10% 10% Freeport Texas 30 29% Granby Corp 10% 15% Great Nor Ore 20% ... Howe Sound , 23% 234 Int Nickel 15 14 J /* 15 14% Inspiration .... 8% 8 8 8% Kennecott Cop.. 34% 24% 24% 24 Nev Cons 11% ... 11% 11 Texas Gul Sul 46% 46 u S Smelt. 21 °‘ ls — ’ Amerada 19% ... Atl Refining .... 20% 20% 20% 20% Barnsdall 12V, 114 13% 12 Houston ... 8% 8% Indian Refining 4 4 Mex Sbd 13% 18% 18 7 / 13% Mid Conti 14% Phillips 134 12% 13% 12 4 Pr Oil & Gas 14 13 % Pure Oil 10% 10% 10% Richfield 3% .. 3% 34 Royal Dutch .... 38% 38 384 38% Shell Un 94 9% 94 9% Sinclair 11% 114 11% 114 Simms Pt 8 Skelly 84 8% 84 8% Standard of Cal 46 45 4 46 45% Standard of NJ. 47% 46% 47% 46% Standard of N Y 23 % 23% 23% 23% Texas Cos 31% 31% 31% 31% Union Oil 22 Vi Steels— Am Roll Mills... 294 29% 294' 29 Bethlehem 47% 46% 47% 46% Byers A M 42% 41% 42% 404 Colo Fuel 24 23% 24 24 Ludlum 12% Repub I& S ... 17% 16% 17Vi 16% U S Steel 140% 139V* 140% 139 Vanadium 47% 46% 47 % 46% Youngst S & W 32% ... Youngst S & T 73% ... Tobaccos— Am To (Anew). 107 106% '97 106% Am To (B new). 1104 110% 4 109% General Cigar 38 Llg & Myers 8.. .. ... 86 87% Lorlllard ...... 14 12 14 " 13% Reynolds Tob .. 43% 43 V* 43% 43 Too Pr A 1. .. 10% 10% United Clg ... 4% Utilities— Abitlbl 9% 9% Adams Exp 1% u% la™ 18% Am For Pwr.. 23% 27% 28% 27% Am Pwr & Li 454 46 A T <fc T 183% 181% 182% 181% Cos Gas & E 1... 34% 34 34% 34 Com & Sou 9 8% 9 9 El Pwr & Li... 42% 41% 424 41% Gen Gas A 3 5 Inti T & T.. 23 22% 23 224 Natl Pwr & L:.. 32% 31% 32% 31% No Amer C 0... 67V* 66 66% 66 Pac Gas <t El.. .. ... 46% 46% Pub Ser N J.... 75% 75 75% 74 So Cal Edison .. .. ... 47% Std G & El . 60Vi 58% United Corp. .. 184 18V* 18% 18 Ut Pwr & L A.. 28% 23Vi West Union 138 139V* Shipping;— Am Inti Corp . . 19% 184 IS-* 184 Inti Mer M pfd . . 16 16 United Fruit... 574 57% 574 57 Foods— Am Sue ... 46 Armour A .. 3% Cal Pic* 43 Vi 43% Can Dry 31% 30% 31 30V* Childs Cos 26% 26 Coca Cola 149% 147% 149 147% Foods— Clout Baking A 244 24% 24 Vi 22 Coni Prod 78Vt 78 78% 78 Crm Wheat 27 Cudahy Pkg 42 Gen Foods 50 49% 50 49% Jewel Tea 41% 40V* 404 ... Kroger 23% 23% 23% 224 Nat Biscuit ... 784 77 78 77% Safeway St .. 41% 41% 41% 414 Std Brands ... 18% 17% 18V* 174 Ward Bkg . 4% 44 Drugs— Coty Inc 84 ... Lambert Cos 80 774 80 774 Industrials— Am Radiator... 17% 164 17V* 164 Bush Term 24% ...

New York Curb Market

(By Thomson & McKinnon) —Jan. 20— 11:30! 11:30 Am Com Par.. 13%iHumble Oil .... 61 Am Gas & El.. 72*/*ilnt Pete 14% Ark Gas 5% Midwest Ut ... 19% Brazil P 4 L... 23'*jNewmont Min .. 45 Can Marc .... 2%iNla Hud Pvr.. 10% Cities Serv .... IT'/VPeuroad 7 Cord 6%|Sel Indus 3% Elec Bond Sh.. 41%(Std of Ind 36% Ford of Can ... 23 Std of Ohio 50 Ford of Enn... 17% Un Gas (new).. 9% Goldman Sachs. 6% Ut In Ind 6% Gulf Oil 67%|Ut Pwr 9% Hudson Bay . 4**fWalirreen 16%

Indianapolis Stocks

—J&n> 19 — Bid. Ask. American Central Li Inc C 0.1.000 Belt R B &, a Yds Cos com.. 46 51 Bit R R Yds CO pfd 51 56 Bobbs-MerrlU Cos 35 Central Indana Pa- Cos nfd 7s 79 83 Circle Theater Cos com 75... 98 Citizens Gas Cos com 105.... 32 Citizens Gos Cos pfd 5s 98 103 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 Indpls Gas Cos com 6s 55 60 Indpls Pwr Lt & Cos Dfd 6Vjs 101'a 104 Indpls Pu Well L Assn com 8s 51 Indpls Water Cos pfd 3s 101 Interst Pu Ser Cos or 11 pfd 6s .. 88 •Inter Pu Ser Cos pr 11 pfd 75.. 96 102 Metro Loan Cos 6s 10l N Ind Pub Serv Cos pfd slis5 l is .. 94 •North Ind Pub ServCo pfd Ss 98 102 Northern Ind Pu Sv Cos pfd 7s 105 110 Prog Laundrv Cos com 31 E Rauh & Son Fertll Cos pfd 6s 47 Terre Haute Lt & Pwr pfd.. 67 Onion Title Cos com 5s 29 34 Van Camp Prod Cos Ist pfd 7s .. 93 Van Camp Prod Cos 3d pfd 8s .. 98 Auburn Automobiles Cos com. 103 105 Backstay Welt Cos com 12 ' 3 13 Ind Pipe Line Cos llVa 19 Link Belt Cos com 28 U 30 Lynch Glass Machine Cos com 1514 17*4 Mead Johnson <Sc Cos com 75 78 3 '* N Y Central Railroad Cos 117*j 119 ! 2 Noblitt-Soarks Industrials Inc 41 43 Perfect Circle Cos com 25 29 Real Silk Hosiery Mills Inc Cos 35 27 Real Silk Hosiery Mills pfd.. 83 85 Ross Gear & Tool Cos 31 24 Standard Oil Cos (Indiana) .. 351* 36Va Studebaker Corporation 32 24 •Ex-Dividends. Bonds Belt R R St Stk Yds Cos u 85 Broad Ripple Trac Cent Ind Gas Cos 5s 98 Citizens Street Railroads 55.. 23 37 Home T dr T of Pt. Wayne Bs. 103 Ind Railway & Light Cos 5... 94 Indpls Pwr dr Lt Cos 100 103 Indianapolis Gas Cos 5s 100 103 ! .j Indpls & Martins* Ra Hr Cos 5s 15 Indpls * Northw Trac Cos 55.. 5 Indpls St Rv 4s 15 Indpls Trac dr Term Cos 5a.. 43Vi 46 Indpls Union Ry 100 Indpls Water 5s 98*4 100 Indpls Water Cos slis5 l is 103 105 Indpls Wa Cos Ist lien dc Ref 5s 99 Indpls Water Cos 4Vis 95 : i ... Indpls Water Works Sec Cos 9s 88 Interst Pub Setw Cos 4>s .... M Interst Pub Serv Cos 5s 95 Interst Pub Serv Oo 6Vs 103 No Ind Pub Serv Cos 5s 99 No lad Te!oh Oo Ss 98V* 109

Certain teed 3% Gen Asphalt ... 2*4 374 784 27% Lehigh Port 5* Vi Otis Eiev 58% ... Indus Chem*— Allied Chem ...158% 15% 158% 156V* Com Solv 15% 16% 15% 15% Union Carb ... 58 5% 57% 554 U S Ind A1c0... 60% 59V* 60% 604 Retail Store#— Oimbel Bros 4V* May D Store 29% 304 Mont Ward .... 17% 16% 17 16*. Penny J C 29% 29% Schulte Ret St.. 4% 4% 44 4% Sears Roe . . 48 4 47%- 48% 474 Wool worth .... 56% 554 58% 35% Amusements — Bruns Baike 11 Col Graph 84 8% BV4 7% Crosley Radio 5 Eastman Kod .147% 144V* 146% 144% Fox Film A 27% 27 27% 27 Grigsby Gru 34 33% 3 Loews Inc 47 47V* 47% 45% Partm Fam ... 434 41% 42% 41*. Radio Corp 13% 13% 13% 12*. R K O 17% 16% 17% 16% Warner Bros .... 16% 16% 16% 16 MlaetUaneon*— Alrwav App .... 8% 8 8% 7% Congoieun 8 8 Amer Can 109 1074 108% 107 Cont Can 49% 48% 494 484 Curtiss Wr 3% 34 Gillette BR. ... 244 22% 22% 23% Real Silk 26 25% 25% 36 Un Aircraft.. 24% 23% 24% 23%

ROSS E. COFFIN IS INSURANCE MEN’S CHOICE Unopposed for Election as President of Indiana Federation. Ross E. Coffin of the Ross E. Coffin Insurance Agency, Indianapolis, was unopposed for election as president of the Insurance Federation of Indiana this afternoon at the annual meeting of the federation in the Lincoln. Delegates totaling 500 and representing every form of insurance business in the state attended the one-day session and met at a genreal luncheon at noon. Coffin Is Advanced Coffin is to be advanced from the vice-presidency. A. L. Riggabee, Indianapolis, of the Fletcher Savings and Trust Company insurance department, Indianapolis, will be reelected treasurer, and Joseph G. Wood, Indianapolis attorney, will retain the post of secretary. Six others nominated for the vicepresidency are Ralph L. Colby. J. J. Fitzgerald, both of Indianapolis; F. A. Tedford, Lafayette; Herbert A. Luckey, R. C. Griswold, Van Y. Duncan, all of Indianapolis. Nominations to the advisory board follow: Paul W. Simpson, Elbert Storer, H. L. Rogers, H. L. Cantelon, all of Indianapolis; L. D. Fowler, Ft. Wayne; L. C. Kigin, Terre Haute, and Fred M. Dlckerman, Indianapolis. Chicago Man Speaks Frank S. Dickson, Chicago, national board of fire underwriters representative, addressed the combined groups at the luncheon. “There are In Indiana today nearly 8,000 persons directly licensed as fire insurance agents, Dickson said, “and the combined number, including agents, helpers, assistants, represents ar aggregate of 40,000 engaged in that branch of insurance.”

Produce Markets

Eggs (Country Run)—Loss off delivered in Indianapolis, 20c; henery aualltv No. 1. 25c; No. 2,25 c. . Poultry (Buying Prices)—Hens, weighing 5 lbs. or over. JVc; under 5 lbs., 15c; Leghorn hens. 11c; capons, 7% lbs. up. 27c: under 7% lbs.. 20c; springers. 5 lbs. or over. 16c; or under 5 lbs.. 15c; ducks, springers. 11c; old cocks. 9011 c; ducks, full leather (at white, 11c; geese. 11c. These prices are (or No. 1 top aualltv quoted by Kingan & Cos. „ Butter (wholesale)—No. 1, 31®32c; No. 2, 29@30c. Cheese (wholesale selling price per pound)—American loaf. 31c: pimento loaf, 33c; Wisconsin firsts, 27c; Longhorns, 34c; New York Llmberger. 36c. By United Press NEW YORK. Jan. 20.—Potatoes—Market, easy; Long Island, $1.75@4; Maine, $2.85® 3.65; Idaho. 45c053; Bermuda. s7@7; Canada. [email protected]. Sweet potatoes—Market steady; Jersey baskets. [email protected]: southern baskets. 50c®$2. Flour—Market quiet and easy; spring patents. $4.60®4.85. Pork —Market, easy; mess. $28.50. Lard —Market steady; middlewest spot. $8.8008.90. Tallow—Market weak; special to extra. 4 @4%c. Dressed poultry'—Market, quiet: turkeys, 30@44c; chickens. 20 '; 39c; capons, 26®43c; fowls. 14028 c; ducks 13@21c: Long Island ducks, 220 23c. Live PoultryMarket steady; geese. 13 024 c; ducks. 15@ 25c; (owls, 30®; 26c; turkeys. 28®40c: roosters 12c; chickens. 17(5-27c; capons, 20 @3sc; broilers 28®,40c. -Cheese—Market, bulst; state whole milk, fancy to special. 18022%c; young Americas. 17%@20c. By United Press CHICAGO. Jan. 20.—Eggs—Market rec f ipt . s - % 186 cases; extra firsts. 20%®21c; firsts. 19@19%c; ordinaries. 16 ®18c; seconds. 120T5c. Butter—Market, firmer; receipts. 10.411 tubs; extras. 37%(T; ext / a SfSfe 26%@27c, firsts. 25®26c; seconds. 23 Vi @ 24c; standards. 27Vic. Poultry —Market firm: receipts. 2 cars; fowls, 21cspringers. 23c; Leghorns. 16c; ducks. 22c; geese. 17c: turkeys. 22025 c; roosters. 15c. ££ ees t~ Twl = s ; „ young Americas. 16c. Potatoes—On track, 233: arrivals. 87: shipments. 612; market steady; Wisconsin sacked round whites. $1.45®1.W; Minnesota round whites. $1.35; Idaho sacked russets. sl.Bo® 1.95. By United Press CLEVELAND. Jan. 20.—Butter—Extras, 37%c; standards, 27%c. Eggs—Extras. 2 Vi- Poultry—Heavy fowls, -lc, medium, li@18c; Leghorn fowls, 16 ®l7c; heavy broilers, 23025 c; Leghorn broilers. 15c; ducks, 25c; old cocks 13c; 5® as fi sta £. 2 <>c: capons. No. 1, 28®33c. Potatoes—Maine Oreen Mountain, [email protected]: few best, $2.60 per R "“ t - By United Press CmciNNAT I . 0.. Jan. 20.-Buuer. steady, creamery in tub lots, according to score. 23® 26c: common score discounted. 2@3c: packing stock. No. 1. 20c; ff?.. 3, r 13c: No - 3 1 0 c : butterfat, 21®23c. 5£\ s_ r*?*' er :s® ses - included; extra firsts. -4c, firsts. 21c; seconds, 20c: nearby ungraded. 22c. Live poultry—Thin and ?nwlS e ¥°£- only at heavy l discount: -at. 1 . s 'i,. and 2 ver - 30c: 4 !bs. and over. 20c. 3 lbs. and over. 20c; Leghorns | -£?• a P d j oVer - 15 Si roosters. 13c; capons. 'os. and over. 32c: under 8 lbs,. 28c slips, 21c: staffs, 16c: colored fryers over 3 lbs.. 25c: over 2 lbs., 27c: Leghorns and Orpington fryers over 2 lbs.. 22c: roasting ers Ck lsc 4 lbS ' and over ' 22c: black sprlng-

Investment Trust Shares

(By R. H. Gibson & CD.) —Jan. 20 — PRICES ARE TO 1* NOON C. S. T. Amer Founder’s Corn Com... ?%' A !>; Am & Gen Sec A 13 14 Am v Trust Shares 3% 5% Basic Industry Shares 6% 6% Corporate Trust Shares 5% 6% Cumulative Trust Shares 7% 7% Diversified Trustee Shares A.. 16% 17% First American Corp 7s, mi* Fixed Trust Oil Shares 5% 6 Fixed Trust Shares A 15 Inv Trust N Y 7 ' j Leaders of Industry Series"X 7% •N-tion Wide Securities 6% ''% National Industry Shares 6% e*-! N Am Trust Shares 3% Sel Am Shares 5 4 Shawmut Bank Inv Trust * i(> Universal Trust Shares 5% % S W Strauss Inv Units 45 54 Super Coro of Am Trust Sh A 6% 71: Fundamental Trust Shares A 6% 7% Fundamental Trust Shares 8.. 7% 7% US Elec Light & Pwr A... 28% 30% •Ex-Div. expectTbuMess^rise steel Corporation Head Says Peak of Depression Is Past. By United Press CHICAGO, Jan. 20.—The peak of the national financial depression was passed a month ago and conditions now are swinging back to normal, believes James A. Farrell, president of the United States Steel,Corporation.

THE INDIANAPOLIS TIMES

PORK MARKET OFF .10 CENTS AT CITY YARDS Cattle Futures Are Lower; Sheep, Lambs Move Upward. HOGS Jan Bulk. Early Top. Receipts. 13. 57.80 & 8.35 88.55 6,000 14. 7.704s 8.40 8.40 8,000 15. 7.604* 8.30 8.30 6,500 16. 7.654i 8.35 8.35 5,000 17. 7.65'fj. 8.35 8.30 3,000 19. 7.80fe 8.50 8.50 j.OOO 20. 7.70fe 8.40 8.40 8,000 Porker prices today at the city stickyards were mostly 10 cents lower than Monday’s best time. The bulk, 100 to 300 pounds, sold at $7.70 to $8.40. Receipts were estimates at 8,000. Holdovers 127. Cattle market practically at a standstill, with all bids ranging mostly 25 cents lower than Monday’s average. Receipts were 1,400. Vealers were stationary, selling at $10.50 down. Receipts 600. Sheep and lambs were generally 25 cents higher, better grade of good and choice lambs were selling at mostly $9 to $9.50. Receipts were 1,800. Chicago hog receipts 40,000, including 12,000 directs. Holdovers, 5,000. Generally asking around 25 cents higher than Monday’s average, few early bids and sales 10 to 15 cents higher, few loads of good and choice hogs weighing 130 to 180 pounds sold at $8.25 to $8.30. Best weights held to $8.40 or above, few 210-pound weights sold at $8.20. Cattle receipts were 7,000. Calves, 2.000, and steady. Sheep receipts, 12,000, and steady. HOGS Receipts, 8,000; market, lower. —Light Lights—-(l4o-160) Good and choice....? 8.40 —Light Weights—-(l6o-180) Good and choice.,.. 8.40 (180-200) Good and choice.... 8.30 —Medium Weights—-(2oo-220) Good and choice B.lo® 8.20 (220-350) Medium and g00d... 7.90@ 8.10 —Heavy Weights—-(2so-290) Good and choice.... 7.70® 7.90 (290-330) Good and choice.... 7.50@ 7.70 —Packing Sows—-(27s-500) Medium and good.. 6.00@ 6.75 (110-130) Slaughter pigs 8.30 CATTLE (Slaughter Class) Receipts, 1,400; market, lower. Good and choice $10.25® 13.00 Common and medium 6.0 @lO 25 (1,100-1,500) Good and choice [email protected] Medium [email protected] —Heifers—-(soo-850) Good and choice 8.25®11.00 Common and medium 5.00@ 8.25 Good and choice 5.25® 6.50 Common and medium 4.00® 5.25 Low cutters and cutters 2.50® 4.00 —Bulls (yearlings excluded) — Good and choice beef 4.25® 6.00 Common and medium 3.00@ 4.25 CALVES AND VEALERS Receipts, 600; market, steady. Good and choice [email protected] Medium 6.00 @IO.OO Cull and common 4.00® 6.00 —Calves—-(2so-300) Good and choice $ 6.00® 9.50 Common and i-sdium 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 4.75® 6.50 SHEEI AND LAMBS Receipts, 1,800; market, higher. Good and choice $ y.oo@ 9.75 Common and medium 7.00® 9.00 --Ewes— Medium and choice 2.50® 3.75 Cull and common I.oo® 2.50

Other Livestock By United Press CHICAGO, Jar.. 20.—Hogs—Receipts. 40,000, including 12,000 direct; fairly active, mostly 10® 15c higher than Monday’s average; packing sows steady to 10c higher; top, $0.35; bulk, 130-210 lbs.. SB.IO ®B- 3 °: 220-310 lbs., $7.40@8; pi*;. sß® ?-25; packing sows. *6.40® 6.75; light lights. 140-160 lbs., good and choice. $8.20 08.35; lightweights. 160-200 lbs., good and choice $8.1008.35; medium weights. 200-250 lbs.! ffood and choice. y e i fsS* ' - 250-350 lbs., good and choice, $7.20 ®7.80; peeking sows. 275-500 lbs.,, medium ?ud good, [email protected]; slaughter pigs. 100130 lbs., good and choice. $7.75 08.35; Cattle—Receipts, 7,000; calves. 2,000; fed steers and yearlings steady to 25c lower; in-between grades showing decline; choice long yearlings. $13.50; best weighty steers, *11.50; medium weights. sl2; not much beef in run; bulk steers of value to sell at other classes very uneven; slaughter cattle and vealers: Steers, 600900 lbs.. good and choice, $9.75® 14.25; 9001.100 , lb su K°° d and choice, $9.75® 14.25; 1,100-1,300 Ibs._, good and choice. $9.75® good and choice. $9.75014; 600-1,300 lbs., common ana medium. [email protected]; heifers, 550-850 lbs., good and choice. $7.50® 11.50; common and medium. $507.50; cows, good and choice. ss® 7; common and medium. s4@s; low cutter and cutter, s3@4; bulls yearlings excluded good and choice beef, $5®6.25; cutter to medium, $4®5.25. vealers milk choice, $9.50@12; medium, $7.50®9.50: cull and common, ss® 7.50; Stocker and feeder cattle; steers, 500-1,050 lbs. good and choice. $709; common and medium, $5.50® 7. heep—Receipts, 18,000; market fairly active, mostly steady with Monday s average; early bulk good to choice lambs, [email protected]; some held higher; arcing $8.50 for feeders; fat ewes, s3® 4.50; slaughter sheep and lambs; lambs 90 lbs. down, good and choice, [email protected] ™^%A ,7 ’ s0 ® 8 ’ 7 5;. , aU weights common [email protected]; ewes ?0-1%0 lbs., medium to mon. $203.50; feeding lambs. 50-75 lbs. good and choice, [email protected]. By Times Special c BOUISVILLE. Jan. 20.—Hogs—Receipts, I® o higher; 300 hJ, up $7 P 6O; I*o-225 lbs., $8.35; 130°‘>n lbS - 87 ’ 95: H= lbs - down . $7.35; roughs. *®; 3 5. stags. $5.35 Cattle —Receipts. 200; S?a e L *te ad .v: .Prime heavy steers, $8.50 @lO heavy shipping steers. $7.2508.50; medium and plain steers, $6®7.25- fat *io 5 R°S 9 - 50: common to medium heifers. $5®6.50; good to choice cows. $4.50 ok 1 ? 1 , g° od cows. $3.7504.50; cutters, canners s2'®3* bull*; [email protected]; feeders. $6.5007.25; Stockers! * 4 f 6' medium to good feeders. *[email protected]. Es mark et steady good to choice. $7!50®9.50 mediums. $5®6.50' ecnimon to medium. $3.50@5. Sheep—Re--5?j. market steady; ewe and wether lambs. SB, buck lambs, sf; seconds $5 down: clipped sheep. s3<o)4. Monday’s shipments: Cattle. 228; calves. 304° hogs none; sheep, none. * ’ By United Press EAST ST. LOUIS. El.. Jan. 20.—Hogs— Receipts 12.000; market. 10@25c WP. $8.50; bulk 140-220 lbs.“ $8.25@8 40 : 235-250 lbs., $7.9C<®8.20; 260-200 lbs '*7 ®7.85; 100-130 lbs., 87 [email protected]; sows,’ $6!25 i oaa 9 ’ Cattle--Receipts, 3.800; calves, 1.200: mar vet. -leers relatively liberal supi St '; eale X* 25@50c higher on others slow: early deals steady. Sheep—Receipts. 1.800; lambs £P n ,f and steady; choice lambs to city outs. SO, fat ewes, <3.75 down. By United Press CLEVELAND, Jan. 20.—Hogs—Receints 2.000; holdovers 532; 10@20c higher B on ".eights 210 lbs. down; top and bulk $8 60others steady to 10c up; 220-250 lbs! Jocund $8.10; 250-300 lbs. downward to *f‘’ 7 a . (^ttie— Receipts, 250; around steady; denftnd for steers now after Monday s fairly complete clearance; scattered common to medium heifers, [email protected] low cutter to medium cows largely Calves—Receipts. 450: steady with Mon-! day s opening; spots 50c or more over low time; better grade vealers largely $11.50® 12; In-between kinds around [email protected]; culls, $7.50@9. Sheep—Receipts. 1.500; fat ‘“mbs strong to mostly 25c higher; bulk $9.25® 9 .50; best quoted higher; others ini eluding sheep, mostly 50c over late last ? ee £; throwouts. $7.60®8: medium lambs @4 ° r above ’ 7aß ewes around $3.50 By United Press CINCINNATI, Jan. 20.—Hogs—Receiots hpi d °y ar - 300; fairly active, mostly 10c higher, spots 25c up on weighty butchers, better grade 1601220-lb avetages largely $8.60; some mixed loads $8 50weightier kinds very uneven. 225-260 lbs ’ [email protected]; some 250-340 lbs.. $7.500 8 25- 120150 lbs. about steady at $8.25; sows steady to strong: bulk. $6.20; smooth lightweights $6.50. Cattle—Receipts. 300; calves 350-’ generally steady, but lacking action;’ some lower grade steers and heifers. s6@7 50few more desirable kinds. SBO9- small package of baby beeves. $10.50; most beef cows. $4.75 8 5.30; bulk low cutters amd cutter cows $2.7504; bulls mostly $5!50 down; few. $5.75; vealers steady; good and choice. $9.508 10.50; lower grades. $9 down Sheep—Receipts. 175: active, strong- better grade lambs. $8.50 to mostly *9-' * oo <i to choice handyweights quotable nominally $9.25; common and medium. $6.50017 sofat ewes. s2®3. By United Press PITTSBURGH. Jan. 20 —Hogs—Receipts 600: holdovers. 450: mostly about 15045 c higher; 120-210 lbs.. $8.75 8 8.90 ; 220-250 lbs.. $8.4008.65 : 250-300 lbs.. $888.25; rood packing sows. $6.50® 6.75. Cattle—Receipts 15: market nominally steady. Calves Rel celpts. 50: market, very slow, about 50c lower; better grade vealers, $9.50011.50. Sheep— Receipts. 500; fat lambs strong to 25c higher; good to choice lambs. *8.500 9.25; best handyweights, *9 50; aged wethers up to *5.

BELIEVE IT or NOT

A CEDAR, AS OAK ANpAMAP/.E (fi ARE ALL GROWING OUT OF THE SAME STUMP J GhUi&ms CveekjGrdvrili Pass, Oregon ICE WILL BURN BUCK r-ioisrupL ano natural gasoline. _ alone .' **' ,*&' : FROZEN !NTO ICE CAKES - WILL OURN • 1381. Kin* feature* Syndic*’.*. !**. Oreat Britain rt*hl* rutm*.

Dow-Jones Summary

TULSA—DaiIy average production of crude oil in the United States in week ended Jan. 17. totaled 2,080,247 barrels a decrease of 763 barrels, according to the Oil and Gas Journal. Lerner stores corporation and subsidiaries year ended Dec. 31, consolidated net income 81,362,203 after depreciation federal tax etc equal after 6V& per cent preferred dividends to $5.83 a share on 200,000 common shares, against *1,385,441 or $6 a share in 1929; sales $23,293,927, against $19,077,143. LONDON—New York Cables opened at 4.85 5-16, against 4.85 9-32; Paris checks 123.88; Amsterdam 12,062; Italv 82,715; Berlin 2%44. General Electric fourth quarter orders ?:74,168,480, a decrease of 32 per cent from ike 1929 period; 12 months $341,820,312. off 23 per cent. Federal Reserve bank of New York reduced buying rat : on bankers acceptances up to 15 days maturity by y. of 1 per cent to 1% per cent. Blauner’s, Inc., declared regular quarterly dividend of 50 cents on common, payable Feb. 15. record Jan. 13. Sioux City Ga: and Electric twelve months ended De*. 31 net profit $1,068,355, after taxes and caarges, but before depreciation. against $1,045,668 in 1929.. Standard Oil of New raised tank wagon price of gasoline 1 cent in New York and New England. Does not affect retail prices. Auburn Automobile auarter ended Nov. 30 net loss $26,613 after charges, depreciation, taxes, etc., against net profit of $3.80 a share on 169,686 shares in final quarter of previous fiscal year. Twelve months $5.43 a share on 187,533 shares against $21.33 a share on 169,686 shares In preceding year. New York Edison system reports total of 2,213,672 meters on lines Dec. 31, 1930, increase of 25,55' over number in service Dec. 31. 1929. International Railways of Central America December balance before fixed charges $283,099, against $327,510 in December, 1929. Twelve months $3,104,518, against $3,625,179. American Founders Corporation subsidiaries year ended Nov. 30 net income 76 cents a share on 8.902,'498 common shares against $2.01 a share on 8,446,694 shares In preceding year. Consolidated asset value of common $5.55 a share. Prudential Investors. Inc., 1930 net income 76 cents a common share. At yearend common stock had value of $21.42 a share. Brazilian Traction Light and Power December net after expenses, but before depreciation and amortization, $2,106,232 against $2,241,295 in December 1929 Twelve months $27,549,594 against $28,052,962. Imperial Tobacco Company of Great Britain and Ireland, Ltd., declared final common dividend ft 9 per cent and bonus of Is 6d both tax free making 23% per cent for the year against 23 per cent during previous year. Preliminary statement for year ended Oct. 1 shows 300,000 pounds carried to general reserve account and 1,190.000 pounds carried forward, George A. Hormel & Cos. declared regular quarterly dividend of 50 cents on common, payable Feb. 15, record Feb. 2. Lincoln Printing Company declared regular quarterly dividend of 50 cepts on common, payable Feb. 2. record Jan. 22. MOTOR TAX HELD VALID Supreme Court Gives Decision in Test Case on Law. By United Press WASHINGTON, Jan. 20. The North Carolina statute imposing a tax of $45 a ton on motor vehicles operated for hire over a route more than fifty miles, while those operating below fifty miles pay but sls a ton, was held valid by the supreme court Monday. The law was questioned by W C. Clark, Wake county, who paid the tax under protest.

Dies for Duty By United Press CHICAGO, Jan. 20.—A Negro garage worker gave his life trying to save the twenty-two automobiles left in his care. When a defective heater exploded Monday, setting fire to oil and gasoline, the Negro, Edward Criss, first turned in a fire alarm and then started driving the machines out. Criss moved out twenty cars and dashed back into the mass of flames and smoke for the twenty-first when he was overcome. Firemen rescued him but he died a few hours later of injuries.

On request, sent with stamped addressed envelope, Mr. Ripley will furnish proof of anything depicted by him.

Following is the explanation of Ripley’s “Believe It or Not,” which appeared in Monday’s Times: bere -s. / ,’y:: ~ •“‘T'’—4 y- > A Seal Sleeps at Intervals of One and One-Half Minutes—According to observations of authorities on history, the daily occupation of the seal is divided between sleeping and procuring food. They huddle together In a drowsy condition for a great partof their time, both day and night. During their sleep the bodies of seals continually are undergoing various quivering and rolling motions, accompanied by twitchings of the paddles, and it has been found that they never actually sleep for more than a minute and a half at a time. See: “Human Geography,” by J. Russel Smith. Prince Frederick was the eldest son of George II aid the father of George 111. After Prince Frederick’s death his place in history was summed up in ihe epltah on his gravestone: “Here lies Fred, who was alive and is ‘dead —there’s no more t obe said.” Reference: Macauley’s “Life of Johnson,” 1924, MacMillan Cos., Tomorrow: “Captain Kidd was hanged twice.” Other Livestock By United Press EAST BUFFALO, N. Y.. Jan. 20.—Hogs —Receipts, 16,000; holdovers, 100; fairly active, weights above 170 lbs., steady, others weak to 15c lower: bulk desirable, 170-210 lbs., $8.75; 220-230 lbs.. $8.65; 240300 lbs., [email protected]; weights below 160 lbs., [email protected]. Cattle—Receipts, 50; cows, unchanged; cutter grades, $2.25®4; calves, receipts, 150; vealers, steady. sl2 down. Sheep—Receipts, 400; lambs, steady; quality and sorts considered: good to choice, mostly $9.50; mixed offerings, $9; medium and mixed kinds, and strong weights, $8.50. By United Press FT. WAYNE. Ind.. Jan. 20.—Hogs—Market steady to 10c higher; 100-140 lbs.. $7.90: 140-180 lbs., $8.20: 180-200 lbs.. $8.10; 200-225 lbs.. $8; 225-250 lbs., $7.75; 250-275 lbs.. $7.60; 275-300 lbs., $7.50; 300-350 lbs.. $7.35; roughs, $6.25; stags. $4.50; calves. $10.50; lambs. $8.50. Stolen Auto Recovered An automobile stolen from Harry Daffin, 2607 North Butler avenue, was recovered, police learned today, when Anderson police captured Wayne Brookins, a Ft. Wayne youth charged with its theft and with stealing another machine in Ft. Wayne,

HOOVER IS FIRM FOR NATION’S DRY LAW

(Continued From Page 1) be understood as a recommending,” the suggested revision of the eighteenth amendment, proposed as a possible alternative, in event the present system does not prove successful.” Mr. Hoover made no direct reference to the Anderson modified Swedish plan, providing for regulated sale of liquor, though his opposition to revision of the eighteenth amendment, which would be a necessary preliminary, places him in effect in opposition to it. The commission's suggestions for increased enforcement appropriations and personnel were commended to the attention of congress by the President for consideration “at an appropriate time.” Because of the danger qf forcing an extra session, it was not expected Mr. Hoover would urge any action at this time. Delivered to House Immediately on receipt of the report and Mr. Hoover’s message in the senate chamber, a movement to have it read was begun. It was brought in by a White House messenger and formally delivered. Senator Goff vßep., W. Va.) was in the chair when the report arrived by White House messenger. He quickly abdicated in favor of Senator Moses (Rep., N. H.), a veteran parliamentarian. In the house, the White House messenger walked quietly and unceremoniously into the rear of the chamber at 12:43, and stood there for a few moments until the house could go through the parliamentary motions of resolving tself again into

Registered 0. b O y F*?ent Office RIPLEY

The City in Brief

WEDNESDAY EVENTS Council of Church Boards of Education, meetings. Claypool. Indianapolis chapter. National Association of Cost Accountants, luncheon, Chamber of Commerce. Apartment Owners’ Association, luncheon, Spink-Arms. KJwanis Club, luncheon, Claypool. Lions Club, luncheon. Lincoln. Purdue Alumni Association, luncheon, Severin. J IlUnl Club, luncheon, Board of Trade. Mutual Insurance Association, luncheon, Columbia Club. Advertising agencies and campaigns will be subject of an address by Ernest Cohn, vice-president of the Homer McKee Advertising Company, before the Indiana university extension class in publicity methods Thursday night. “Salt and Peanuts” and other stars at the Lyric this week will entertain the Kiwanis Club at its weekly luncheon in the Riley room of the Claypool Wednesday. Bonding company officials Monday granted city airport officials permission to use the administration building at the new municipal airport, although the work£ board has not approved the structure contract payment. New lobbyists to file with Secretary of State Frank Mayr Jr. are John A. Royce, 4026 Broadway, representing the Haniilton-Harris & Cos. and interested in legislation affecting tobacco taxation, and Lynn C. Bisbie, Fremont, representative of the Conservationists of America and interested in taxes, utilities, public welfare, libraries, and public ownership. Members of the Indianapolis Restaurant Association have gone on record in favor of patronizing home industry, William H. Bess, president, announced. January frolic of the Men’s club of the Fletcher Savings and Trust Company will be held Wednesday night at the Ulen Country Club. Mrs. Leo Mirrof, formerly Miss Annett Seigel, will have charge of the Leader store’s ready-to-wear department as manager and assistant buyer, on the second floor.

legislative session from committee of the whole. Then he formally delivered the message to the speaker. REJECTS ‘GIFT’ RADIO Finds New Set on Porch, but Turns It Over to Sheriff. Santa Claus made a return visit to A. J. Hass, R. R. 17, Box 478, Monday night. When Hass heard a noise on the porch he investigated and found a table model radio. He turned it over to deputy sheriffs.

Local Wagon Wheat

City urmln elevators are oayln* 68c for No. 1 red wheat and 67c for No. 1 hard wheat White Valley Retreat A SANATORIUM FOR NERVOUS AND MENTAL PATIENTS Homelike Atmosphere and Hospital Efficiency EACH PATIENT UNDER SPECIAL OBSERVATION Reasonable Rates Information Upon Request 883 E. Wash. St Phone 345 MARTINSVILLE, IND. “The City of Healing Waters.”

We Real Estate Preferred Fleteher Buy and Stocks and Bonds Americas Bide Sell ZAISER & ZAISER ■

.JAN. 20, 1931

FOREIGN NEWS HOLDS WHEAT PRICES LOWER Profit-Taking Forces Corn Market Down; Oats Are Unchanged. Sy United Press CHICAGO, Jan. 20.—Despite favorable news, wheat prices opened steady to lower on the Board of Trade today. Lower foreign markets had some effect on July in the face of efforts by milling interests to secure the approval of the stabilization corporation for the “loaning” of old crop wheat at July prices for conversion into flour for export. Com was easy with wheat and on early profit-taking sales on the late rally Monday. Oats were unchanged. At the opening wheat was unchanged to % cent lower with Julv *4 cent to % cent lower,- com was H. cent to % cent lower and oats were unchanged. Provisions were steady. Liverpool Lower Sentiment in the wheat trade appeared better overnight as a resuit of new developments. The Chicago Board of Trade committee at Washington was informed that no legislation against grain trading would be put through at this session. The farm board is to supply the Red Cross or any other responsible agency with wheat and cotton for distribution to alleviate distress. The failure of the export demand has been offset to a certain extent by the drought in the winter wheat' belt. Liverpool was lower than due and fell to %c lower at mid-after-noon. Buenos Aires was %e lower during the morning. Oats Unchanged The movement at oam to primary markets Is the smallest at this season in five years and this has a bullish effect. However, traders take profits on the bulges. Cash houses have been selling oats from time to time and tired longs have been liquidating. The market makes good recoveries and holds fairly steady. Chicago Grain Table —Jan. 30— WHEAT— pyfy, „ Hlsh. Low. 11:00. close. Mar 80% .80% .80% .80% May 82% .82% .83% .82% 05RH— 961/4 ' 6ST/ * • 68 ‘ a Mar 575% .67% .67% .88 May 69% .69% .69% .70 July 71 .70% .71 .71% : 71 - 70 ’* • 7iy * - 71 ’* Mar 33% .33% .33% .33% M*y 3 % .33% .33% .33% ! ‘ Mar 40% .40 . 40% .40% jSSJ ::::::::: - 41 * - 41 H LARD— " ” * Jul y 8.92 8.90 8.92 8.87 By Times Special ISlf RULES ON INCOME TAX High Court Holds Separate Returns on Community Property Legal. By United Press WASHINGTON, Jan. 20.—The right of husband and wife to file separate returns on income from community property under the laws of California was upheld Monday by the supreme court. bandit^offerTuto RIDE, TAKE $8 FARE R. A. Thompson Accepts Lift, Forced Out of Car, Robbed. It cost R. A. Thompson. 601 North Hamilton avenue, $8 for a ride downtown he didn’t get early today Awaiting a street car at Hamilton avenue and Michigan street, Thompson accepted the offer of three young men in an auto to ride downtown. One of the men covered him with a gun as they drove away, and another bandit took his money. They let him out near Arsenal Technical high school. STUDY CLUB TO MEET Date Changed on Account of 84 Commencement Program. Next meeting of the Child Studv Club of School 76 will be held at the school, College avenue and Thirtieth street, at 10 a. m. Thursday. Date of the meeting was changed because of the 8A commencement. Professor Ralph Carter of the Indiana university extension center will address the club on “How Much Liberty Shall Our Children Have.” Mothers of children in other schools are Invited to attend. AT on Mart ial Deserter AUBANY N. Y„ Jan. 20-Senator William Lathrop Love introduced a bill In the legislature which would make a felony out of marital desertion.

• • An Investment Within Reach of Everyone Each Corporate Trust Share, participating in 28 leading companies, gives the same diversity secured by purchasing all 28 stocks separately. The price is low. Moody’s composite portfolio rating “A” Priced Today at Aboot 56.25 Per Share SesissißEsa IffvagmgMTfls. HU 157 E, Washington