Indianapolis Times, Volume 42, Number 259, Indianapolis, Marion County, 10 March 1931 — Page 12

PAGE 12

STOCK SHIRES HOLD TO FIRM TRADING RANGE New Highs Made in Uneven Market Action; Steel Dips Slightly.

Average Stock Prices

irnuc of thirty Industrials for Mon--4*7 *s HI M, up 1.13. Arorope of twenty rs-Us wm 109 I<l up .01. Average of twenty uttlitlei u 73.12. up .38. Average of forty bond* was 99.67. off .01. Bp United Pree NEW YORK, March 10.—Despite Weakness In a. few individual Issues and further selling in the oil shares, the stock market maintained a firm tone through the first half of the session today. Leading Industrial* were up fraction* to 2 points; rail* held steady; utilities advanced 1 to more than 3 points, Consolidated Gas leading; coppers were steady; motors held firm except Mack Trucks. Mack Trucks broke to 38%, off 3% points on expectation of a dividend reduction which was realized. Directors declared a dividend of 75 cents quarterly, placing the issue on a $3 annual basis, against $4 annually paid previously. Warner Brother* Pictures and Checker Cab broke to new lows for the year at 11%, off 1, and 12, off 3, respectively. New highs were made by Consolidated Gas at 106%, up 3%, and Public Service of New Jersey 90%, up 1%. United Corporation made a new high at 30 %, and then eased off fractionally. Other utilities were up fractions to a point. Can Takes Lead American Can replaced Steel as leader of the industrials. An overcrowded short Interest was forced to cover and the issue easily rose to 127%, up 3% points. Other members of the Industrial division, including Case, Radio Corporation, General Electric, Columbia Carbon and Johns Manville, were up fractions to 2 points. Auburn Auto soared to 199, up 6 points, but it lost part of this rise later. Tobacco shares moved ahead under the lead of R. J. Reynolds B, Whifch made anew high for the year at 49, up %, American Tobacco B rose a point to 120. United States Steel opened at 147, where It was up % from the previous close. In the morning it ranged between 147% and 146%. At 12 o’clock it was at 147%. Steed Report Issued The steel corporation at noon published its report on unfilled tonnage for Feb. 28. This .report showed a decrease of 187,157 tons from the total reported on Tan. 21. The street had expected a incline ranging to 75,000 tdfcs and hence the statement was considered bearish in some quarters. Steel promptly broke to 147 a few minutes after the tonnage figure was announced. It later broke below that figure and the remainder of the market eased off from the positions attained around noon which in many Instances were highs of the day. Support was encountered on the dip. Steel snapped back to 147, and American Can rose to 128, up % points, and anew high on the movement.

New York Curb Market By Thomson A McKinnon) • —March 10— 11:00 11:00. Am com Pwr... 15% Int Pete 13% Am Oas & El.. 13 Midwest Ut 34% Am Lt A Tr ... 53% Mo Kan Pipe ... 10% Arlc Gas 5% National Sugar 34 Aviation of Am 35*4 National Av ... 7% Brazil Pw A Lt. 37% Newmont Min .. 53'/ Can Marc .... 3Va Nla Hud Pwr ... 15% pities srv .... 18% Niles 30% Cons Oas 97 Pen road 7% Cord 10% Prince A Wfctly 1% Crocker & Wh, 13% Salt Creek 6% Ourant Mot .... 3% Set Indus 4% Wee Bond Sh.. 59% Shenandoah .... 7% Ford of Can ... 37% Std of Ind 33 Ford of Eng ... 17% Stuta 37% Fox Theater ... 4% On Oas (new).. 10% Goldman Sachs 8% Un Lt A Pwr... 33% Gulf Otl 64% Un Verde 13 Hudson Bay ... 5% Ut Sc Indus ... 9% ffuhle Otl 57 Vacuum OU .... 58% thd Terr A ... 18% Van Camp 6% Tnt Super 38% Net Changes >-■ By United Free* NEW YORK. March Closing {trices and net changes on principal stocks traded today on the New York Stock 'Exchange follow: Up. Off. American Can 334 % ... American Sc Forego Pwr.. 48% 3% ... American Telephone 189% % ... Auburn 393 33 ... Byers 64% 1% ... Case 11l 6% ... Chrysler 36% 3 ... Consolidated Oaa 303% % ... Electric Power 58% 3% ... General Electric 53% 3 ... General Motors 43 % ... Tnternatal Tale, unchanged 30% ... ... Loews Inc 58% ... % Montgomery Ward 30% 3% ... sew York Central 338% ... % ennsylvanla Railroad .... 00 ... % Radio 34% % ... Radio-Keith, unchanged ... 33 Sears Roebuck 00 3 ... Standard Brands ex-d1r1... 30 % ... Standard Oas 88% 3% ... Standard OU New Jersey .. 45% 3 ... Transamertca 35% % ... United Corporation 30 3 3 S Steel 140% ... % vanadium 7p% 3% ... weatinghouse Electric .... 96% 1% ... Worthington Pump 93% 3% ... Investment Trust Shares -- ( By R. H. Gibson Se Cos.) —March 30 PRICKS ARK TO 13 NOON C- S. T. Bid. Ask. Amer Pounder’s Corp. C0m.... 4% 5 Am Sc Gen Sec "K r ‘ N4N4N44 14 Am Inv Trust Shares 5% 6% Basic Industry Shares 7% 7% Corporate Trust Shares 0% 8% Cumulative Tr Shares 0 % E raided Trustee Shares "A” 36% 19% t American Corp 6% 6% and Trust Oil Shares 9% 8 and Trust Shares •’A" 16% ... Trust NY 7% gv 4 lers of Ind Series ‘'A”... 8% . on Wide Securities 7% i% onal Industry Shares ... 6% T m Trust Shares 0% f% Am Kharae 5% e% smut Bank Inv Trust ... U 33 •ersal Trust Shares 6% 0% r Strauss Inv Units 4ft St tr Oort) of Am Trust Sh A 7% 7% damental Tr A 7% % laments! Tr B 8 8% Electric light Sc Pwr A,, 33% 34% James T. Hamill & Company Private Whnee lee Slag Itffeaagell* SCEKBRCS Chtosge ffta Oh Mueie Chicago Kaas6 es Teals leAlaeapeße Bears es TveAe AieeetefteS Veer Task Cash 203 Continental Bank Bldg. ! i Tel. Riley MBO-RUHy *4*4

New York Stocks " ’" (■ Thomson A McKinnon - —————

-March 10- . Fret. loUNiO Kith. Low. Clo*s close. Atchison „ ... ltt% 193 AU Oek Liao 169 .4*% & 22 Cbesa Coro 47 49% Chi Ort wsst 9% Chi W West S* 3f% CRI R F M DIL9 W 67% Del * Hudson 147 Erie let pfd 44% ... Oreot Northern. 63% 66 66% 69% Illinois Central 76% Lou a Nash 105 MEAT 33% 33% Mo Pacific aid. .. 99 N T Central ....119% U*% 116% 116% NT NH A H.... 91 96% 90% 90% Nor Pacific 59% 84% 54% 54% Norfolk A West 305% Pere Merq 70 Pennsylvania ... 91 90% 91 90 So Pacific 103 Southern Ry 53% St Paul 9% 7 ft 11% 11% St L A 8 P 41 Texas A Pac 90 Union Pacific ;98 Wabash 17% W Maryland ... 18 15% 16 18% Eq*ipnsa>*— Am Car A Foy 36 Am Locomotive 37% Am Steel Pd ... 38% 38% 38Vs 36 Am Air Brake S 35% Gen Am Tank 69% 69 general Elec ... 51% 53% 53% 53% Oen Ry Signal.. 90% 80 80% 80% Lima Loco 30% Press Stl Car Hi 6% Pullman 58 Westlngh Ar 8.. 34% 34% 34% 34% Westlngh Elec.. 97% 95% 96% 96% Rabben— Plrestone . 17% Flak $ •% Goodrich 18% !*% 18% 18% Goodyear 48% 48 48% 48 Kelly Sprgfid ay. U S Rubber .... 16% 16 16Vs 16% Molort-* Auburn 199 195 199% 189 Chrysler 35% 35 35 % 36% Gardner 1% Graham Paige 4% 4% General Motors.. 45% 44% 45 45 Hudson 33% 33% 33% 33% Hupp 13% 13% 13% 13% Ck 43% 39% 40 43 Marmon 9 Hash 35% 38 39 % 38 Packard 11 10% fi io% Pierce-Arrow 33% Reo gu g% Studebaker 34% 34% 34% 33% Yellow Truck .. 14% 13% 13% 13% Motor Access— Bendlx Aviation 33% 33% 33% 23% Bora Warner... 30Vs 38% 29% 35% Briggs 31% 21 31% 31% Budd Wheel 13% 13% 13% 13% Campbell Wy... 15% 18 15% 15% Eaton 20% 20% 20% 30% El Storaae B ... 63% Hayes Body * 7% 7% Houda 9% 9% 9% ... Motor Wheel 17% SDarks-W 11% 11% Stewart Warner. 31% 30% 30% 31% Tim kin R 011.... 58% 57 57% 56% Minina— Am Metals 31 31% Am Smelt 34 53 % 53% 53 Am Zinc 7% 7 Anaconda Coo.. 40% 39% 39% 40% Cal A Hecla 10% 10% Cal A Arlx 41 Cerro de Pasco 37% 37 37 26% Dome Mines il% Freeport Texas 38% 38% Granby Corn 30% 20% Great Nor Ore.. 31% 31% 31% 31% Howe Sound .... 36 28% 36 36% Int Nickel .... 18% 18 18% 18% Inspiration 10 10 Kennecott Cop.. 39% 29% 39% 39% Magma Cop 44 Miami Copper... 9% Nev Cons 13% 13% 13% 13% Texas Gul Sul.. 83% 53 89 53% U S Smelt .... 38 34% 35 34 Oils— Amerada If 18% Am Republic 10 10 Atl Refining 19% 19% Barnsdall 12% Houston ..... 11% 11% 11% 11% Indian Refining 3% 3% Mex Seaboard . 17% 17% 17% 17% Mid Conti 13% 13% Phillips. 11% 11% 11 % 12% Pr Oil & Gas 15% Pure Oil £ 9 Richfield ... ... 4% Royal Dutch 37% 37% Shell Un 8 7% TANARUS% 7% Sinclair 13% 13 i3 13 Skelly 9 8% 8% 8% Standard of Cal 46% 48 46 48 Standard of N J 45% 45% 45% 45% Standard of N Y 33% 33% Texas Cos 33 31% 31% 32 Union OH 32% 33 32 33 Steels— Am Roll Mills... 28% 28% 28% 38% Bethlehem ...... 66 64% 88 64% Byers A M 65% 64 68 % 64% Colo J%el 28% Ludlum 18% 18% 18% 18% Midland 39% 38% 39% 36% Newton 20 19% 30 19 Reouh I* S .... 33% 32 33% 31% u s Steel 147% 149% 1*7% 146% Vanadium ....... 31% 70% 70% 70% Youngst SAW. ... ... 37% 39% Tobaccos— Am Sumatra ... 9% e\u Am Tob A (new) .. ... ... U 7 Am Tob B (new) 119 119 Con Cigars 39% Lig & Myers 8.. 89% §9 89 % 88% Ix>rlllard 17 18% 17 16% Reynolds Tob 49% 48 V* gtd Com Tob *B% 48% Std Com Tob ..... ... ... 314 Tob Pr B 2% u utfuti£ii Abltlbi 11 Adams Exp. 23% 21% 22% 23 Am For Pwr. . 48% 47% 48% 48% Arn Pwr & LI.. 60% 60 60 % 59% AT&T.... 198% 197% 198% 197 Col Gas A M.. 43 43% 43 42% Com * 50u.... 11% 11% u% ii% ® Pwr Lt 59% 58% 59% 58% Gen Gas A 8 7% 8 7% Inti T A T.... 37 39 37 36% Natl Pwr & LI.. 43% 43% 43% 42% No Amer C 0... 87 85% 87 86 Pac Gas A El.. 54% 54% 54% 53% Pub Ser N J... 91 88% 90% 89y SO Cal Edison.. 53% 53% 53% S3 Std OA B 87% 85% 87% 86% United Corp 30% 29% 30y B 30 Ut Pwr & L A 30% West Union ....135 ... 138 135% Shlpplnr— Am Inti Corn... 34% M 34% 33% Am Ship A Com 1% Inti Mer M pfd 15% ... Ho Om Llovd 34% 34% United Fruit 66 Foods— Am Sue 53% 33% 53% ... Armour A 3% 33% S Beechnut Pkg 57 C&l PII2 Can Dry 38% '37% 38% '37% Childs Cos. 33% 33 33% 334% Cent Baking A. 37 35% 36% 25% Corn Prod 83 % 83 Crm Wheat 31% 31% Cudahy Pkg 46V* 46 Cuban Am Sug 3% ... Oen Foods 53% 53% 53% 53% Grand Union .. 17% 17% 17% 17% Hershey 97 95% 95% 96 % Jewel Tea 53 53 KrWr 34% 31% 33 31% Nat Biscuit 80% 81 Finsbury 36% 3e% 38% 37 gateway St .... 60% 59% 60% 58% Std Brands 19 % 20

Produce Markets , <country run)—Loss off delivered In Indianapolis. 17c; henenr auality No. 1. 16c; No. 3.13 c. Pouter (buying prices)—Hens, weighing 5 _£*• N#r. 17c: under 5 lbs.. 18c: hens, lie: capons. 7% lbs. up. 28c: 8% r 7% lb*.. 34e: under 6% lbs.. 30c: sprineers. 5 lbs. or over. 17c: or under 9 lb*. ITc- duel*, springers. 11c: old cocks. OOlle: duck*, full feather fat white 9c: eecee Bc. These prices are for No. 1 too oualitv emoted by Kinean A Cos. . (wholesale)— No. 1. 30@Slc; No. 3.38939 c. Butterfat—39c. Cheese (wholesale selling price per pound)—American loaf. 31c: pimento loaf. J3e: Wisconsin firsts. 27c: Longhorns. 34c: New York Llmberser. 38c. By United Press ..NEW YORK. March lo.—Potatoe—s quiet: Long Island. *3.50®3.85: Southern. *3.50®8: Maine. $2.te®3.50; IdaBermuda. $8.5009: Canada. MeASS. i5. Sweet potatoes—Market, oulet; Jr*v baskets. 75c5J.16: Southern baskets. *1.5003. Floor—Market, quiet and barely steady. Flour—Market, quiet *nd barelv steady; spring patents. *4.50® 4.80. Pork—Market firm: Mess. $28.50. |*rd—Market, steady: mlddlewest spot. P >04.45c. Tallow—Market, steady: spe--1 to extra. 3%@S%c. Dressed poultry— Market, steady: turkeys. 25®43c; chickens. 25® Me, Live poultry—Market, steady to fln: geese. 11015 c; ducks. 15025 c: fowls. turkeys. 38940 c: roosters. 14@16c; chlcfctas, 18®3e: capons. 21943 c; broilers. 32®40c. Cheese—Market, steady: state whole milk, fancy to special. 1*933 %e; young Amerloa, 16930 c. By United Ptrea CINCINNATI. 0.. March 10.—Butter— Steady: creamery In Lib lots, according to •cote. 37®2fte: common score discounted, 3®Sc: packing stock No. 1. 33c: Nc. 3, 16c: No. 3. 13%e; butterfat. 25®27c. Eggs —lf>wer: cases. Included: extra firsts, 31 %c; seconds. 196 c; nearby ungraded. 21c: duck eggs. 3e: toga ees. sl. Live poultry —Thin and coarse stock sell only at heavy discount; fowls. 5 lbs. and over. 19c: 4 lbs. and over. 39c: 3 lbs. and over. 19c; leghorns. 3 lb*, and over. 18c: roosters. 13c; capons. 8 bs. and over, 33c; under I Iba.. 38e: slips. 33e: over 3 lbs.. 35e: Leghorn and Orpington Irvers over 3 lbs., 33c: braUer*. new crop full feathered. 1% Iba. and over. 40c: partly feathered. 38031 c; Leghorn broilers, full feathered. I*4 lbs. and over. 33933 c: roasting chickens. 4 Iba and over. 34c; black springers, 15c. By United Press CLEVELAND. March 10.—Butter—Extra* 36%; standards. 38% c. Eggs—Extras, 31 %c; firsts. 21c. Poultry—Heavy fowla 33c: medium. 33e: Leghorn fowls. 19c: byavy broiler*. 31933 c: Leghorn broilers, 15c :ducks. 35c- old cocks. 13c: geese. 159 N°- *• 38933 c. Potatoes— Maine Green Mt. mostly *3.50 per 130-lb. jgg, a - io; BaSr?rß mort * Chicago Stocks Opening fT J*mes Hamm 9 Cos.) Aaeoc Tel TJUI 35 &r .... 4T% BjmdlxATtatlon 33% Insuil 8s 1940.. 91% fa sy&:. g&istass jp Mlddlewest com 34% Cor = .9% Natl Securities c 7 Conti Chi Oor p 38% Noblltt Sparks.. 44% *2 % 2 ® Radio A Tel 33% “J™ (A) 7 Util A Ir.du com 9% Koudl B ...... 9 Util & Indu pfd 19% Bee Hsehold.. 36% Zenith Radio 4%

Ward Bkg 6% 6V* OetT'ffiT 15% 18% 15% 15% Lambert Cos .... 84% {4 84% Lehn A Fink ... 34 33% 34 33% riintiitit Am Radiator ... 30 19% 19% 19% Bush Term ... 37 Oen Asphalt ... *7% 17% 37% 37 Lehigh Port 17% Otis Kiev 94 53% Indr.s CleatAllied Cfcem ...100 190 157 M 100 Com Solv 30% 30% 20% 30 Union Carb .... 68% 68 66% 66 U 8 Ind A1c0... 73 71% 72% 71% Retail Starts Assoc Dry Ods 37 36% Gimbel Bros 6% Kresge S S 37% 37% 37% 37 May D Store.... 38 37 % 31 37% Mont Ward .... 36% 38% 36% 38% Penny J C 36% ... 36% ... Schulte Ret St.. 5% 5% 5% 5% Sears Roe .... 80% 58% 00% 80 Wool worth .... 63% 61% 83% 61% Coi Oraph ..... 14% 14% 14% 14% Eastman Rod ..174% 173 174% 173 Pox Film A.... 34% 34% 34% 34% Grigsby Qrunow 8 5% 6 5% Loews Inc 58 58% 58% 58% Param Fam .... 44% 44 44 43% Radio Corp .... 34% 38% 34% 34% R K 0 33% 31% 31% 33% Schubert 8% f% WaVner Bros 13% It 13 13% Mlscellaaeoos— Airway App 9 8% City Ice A Fu 38% Congoleum 10% Amer Can 138% 138 138 134 Cent Cbn 58% 58 58% 58 Curtiss Wr ... 5% Gillette 8 R.... 30 30% 38% 33% Real 811 k. 34 Un Aircraft 96% 95% 90 95 Int Harr 36% 57% 57% 57%

Dow -Jones Summary

Dally average production of crude oil to Untied States to week ended March 7, totaled 3.155.630. an Increase of 53.519 barrels, according to Oil and Gas Journal. New York cables at 4.89 33-33; Paris checks 134.00; Amsterdam. 19.113; Italy, 93.735; Berlin. 30.40. HoudaOle Hershey Corporation declared regular Quarterly dividends of 62%e on elaeo A stock payable April 1, record March to. February sales increased nearly 45 per cent oyer January and outlook for March la promised, President Barnes, states. Canadian Pacific Railway to 1930 earned 83.49 a share on 19.400,000 common shares against 811.15 a share on 3.900,000 shares In 1929. National Dairy Products to 1930 earned $4.10 a common share against 84.04 in 1939. Net profit Union Tan.V Car Company lor 1990 was $3,546,463 after depreciation, interest, federal taxes, etc., against $3,606,589 In 1929. Bixty per cent of creditors of Prince A Wh Italy approve offer of consolidation. New York Central offering $79,000,000 4% per cent refunding bonds. President Polity of New Haven says consolidation of Boston A Maine and New Haven would be for best interests es Ntw England and would result to saving of s£,300,000 a year. New York state factory employment gains 1.4 per cent In February, slightly higher than seasonal trend industrial commissioner reports. New York Central plans twelve-story freight house and warehouse on blocks bounded by Washington West and Spring and Clarkson street, New York City. Otis Steel Company to 1990 earned 7 cents a common share against $3.41 a share in 1929. Pittsburgh Coal 1930 net loss $1,078,696 after depreciation, depletion, interest, etc., against net profit of $15,593, or 4 cent a preferred share to 1939. _Childs Company February sales $1,889 - 203. off 9359.099 from year ago. Two months $3,973,478. off $544,444. Fad *e Gas and Electric Com nasty year ended Deo. 31, 1980, preliminary net profit $21,401,141 after internet, depredation. federal taxes, etc., against *15,748,485 hi 1998. Ktaney February sales declined $359,176 from year ago to $788,652; two months $1,586.6*4. off $515,593. Jewel Tea sales for four weeks ended frb. 3 1- declined s*9,l3* from year ago *ff $33V738 !3: f ° r el^t we * ks $3,174,365,

STEEL OUS OFF Report Shows Decrease of 167,157 Tons. By United Press NEW YORK, March 10—Unfilled orders of the United States steel Corporation showed a decrease of 167,157 tons during February to a total of 3,965,194 tons, the corporation announced today. On Jan. 31, orders amounted to 4,132,351; on. Dec. 31, 1930, 3,943,588; on Nov. 30, 3,639,636, and on Feb. 38, J 930 to 4,479,748 tons. Other Livestock By United. Press PITTSBURGH, March 10.—Hogs—Receipts, 500; market, active, mostly 50c 140-MO lb*-. $9(89.36; 360-31$ lb*.. 88.50i58.75: desirable pigs, around $6.50: packing sows, $6.50@7;25. Cattle—Receipts, 15; little change quotable; calves, receipts, 50; mostly steady; bulk better Jrade vealers $9 @10.50; medium kinds own to 14.50. Sheep—Receipts. 500: steady; choice clipped lamba up to |9; medium to good grades, 61.5098.50; little tiw offered. Births Boy* Cleve and Josephine Bottom*. 3445 River. Mark and Peggy Dolllnger, 1980 Holloway. Ray and Beatrice Harris. Methodist hosIHl&i. Max and Cecelia Suess. Methodist hoePiUl and Louie* Shaw. Methodist hoeRUph and Nina Cook. Methodist hosDitOl. John and Irene Wright. Methodist hosPltai. DonaM and Louis* Hlrschman. MethodlstAosDital. # Bfhce and Mary Clark. Metbodlst ho*. D**ai, Norwall and Pauline Jones. 543 Marlon. William and Roezll Hill. 1929 Hovey. Reginald and Getltia Dunlop. 1636 Marttndale. Ronald and Ethel Sid**, 1344 North Senate. Fred and Ruby McFarland. 913 St. Peter. Freddie and Bonita Mclhttre. UT North Greeley. Girls Joseph and Mary Goo tee. 413 South Grand. k Bugene and Luelle Whitehil, Methodist Virgil and Geneva Johnson. 4109 English. Marvin and Charlotte Wallsalth. 3310 Avondale. Henry and Bertha Hines. 1441 Madlson. William and Elene Gray. 136 North Mlley. Wallace and Rebecca Brawn. 731 Lexington. Morris and Madge Selby. 1529 Steel. Sam and Ruth Dobbs, 36 South Euclid. Lewis and Georgia Sowers. 3048 West Tenth. Deaths Ann Froechauer. 34. 3032 Churchman, lobar pneumonia. Mary A. Laic*. 11. 1841 South Hast, cardio vascular renal disease. Rose S. Stout. 68, 339 Cavern, arteriosclerosis. ' Wilhelm!na Radtk*. 86, 14*4 Laurel, arterloscleroels. Nancy Ward. 100. 1117 Bast Pratt, mitral regurgitation. Anthony F. Scanlan. 80. 1318 East New York, hypostatic pneumonia. , Jacob Wolf Jackson. 77. 1 Hast Thirtysixth. cerebral hemorrhage. Magdaline Franks. 84. 5610 East Mlehlgftn. seDtlcAemlß. John William Young.- 86. 1346 West Twen-ty-sixth. apoplexy. Hubert Burdlne. 1 mo.. - 3064 West Vermont. malnutrition. John Henry Rer.tear. 86. 587 Loett, lobar pneumonia.. John Weslev Oulek. 66. 3666 North Tacoma. acute cardiac dilatation. Abraham Zive, 53. 1150 South Capitol, carcinoma. Elizabeth Johnson Roberts. 35. 977 West Twenty-fifth, lobar pneumonia. Angarine Johnson. 8 mo., city hospital, broncho Daeumonl*. Armstead Cotton. 54. city hospital, cardio vascular renal disease. Emily Melissa Brennan. 72. 946 West Thirty-second, mitral Insufficiency. Sarah Elisabeth St vers. 78. 3801 Southeastern. arteriosclerosis. RAW SUGAR PRICES —March ft—- , High. Low. Close. January 1.51 1.46 1.50 March 1.17 .... 1.17 May 136 ui 1.34 SsLi*:::::::::::: Ut Ut December 1.49 1.45 I.4ft

•THE INDIANAPOLIS TIMES

STEADY TREND FEATURED BY PORKMARKET Slaughter Classes Active in Cattle Trade; Sheep Hold Strong. BOOS Mar. Bulk. Kerly Top. Receipts. 9. $7.10® 7.68 97.60 5.600 4. 7.35$ 7.75 7.75 3.500 5. 7.25® 7.68 7.66 4.000 6. 7.10© 7.88 7.86 3.000 7. 7.6845 8.90 8.00 i.OCfl 9. 7.75® 8.50 8 50 3.500 10. 7.754$ 9.60 8.50 5.000 Hogs were mootly steady with Monday’s best prices at the Union Stockyard* this morning. The bulk, 140 to 300 pounds, sold for 17.75 to $8.50, early top holding at $8.50. Receipt* were estimated at 5,000; holdovers were 189. Slaughter classes were active to stronger in the cattle market. Prices ranged 25 cents over Monday. Receipt* were 800. Vealer* were $1 higher, selling at $9.50 down. Calf receipts were 300. Sheep were quotably steady, with sales holding around $8.50 to $9 for choice handyweights. Receipts were 100. Chicago hog receipt* were 19,000, including 3,000 direct. Holdovers were 2,000. The market opened active on lightweights, mostly 15 to 25 cents higher than Monday’s average; 180 to 210 pounds weights sold $8.15 to $8.25; early top, $8.25; 240pound averages, SB. Cattle receipts were 9,000; calves, 2,000; steady. Sheep, 27,000; the market steady.

BOGS Receipt*. 50081 market higher. —Light Lights—-(l4B-160) Good and choice * 7.75® 8.00 —Light Weights—-(l6o-188) Good and choice.... 8.40© AN (180-300) Good and choice.... 8.50 —Medium Weights—-(3oo-330) Good and choice.... 8.59 (230-230) Medium and g00d.... 8.38® 8.45 —Heavy Weights—-(2Bo-380) Medium and choice. 8.15® 8.35 (290-360) Good and choice... 7.90® 8.15 —Packing Sows—-(27s-500) Medium ana g00d... 5.75® 8.78 (110-130) Slaughter pigs ...... 7.25® 7.50 CATTLE (Slaughter Class) Receipts, 988; market, steady. Good and choice f 8.50®10.50 Common and medium 5.50® 8.50 (1.100-1.500) Good and choice 8.35® 10.50 Medium 5.50® 8.25 —Heifer*— (500-850) Good and choice 7.50® 9.50 Common and medium... 4.50® 7.50 Common and medium ....... S.oo® 6.00 Good and choice 4.00® 5.00 Low cutters and cutters 3.75® 4.00 —Bulls (yearlings excluded)— Good and choice beef 4.35® 5.35 Common- and medium 3.00® 4.35 CALVES AND VEALERS Receipt*. 300; market, higher. Good and choice 8 8.50® 9.50 Medium 6.50(3) 8.50 Cull and common 4.00® 8.50 —Calve* (350-300) Good and choice 5.00® 8.00 Common and medium 3.00® 5.00 STOCKERS AND FEEDER STEERS Good and choice 5.50® 7.75 Cbmmou and medium 4.25® 5.50 (800-1.500) Good and choice .. 5.50® 7.75 Common and medium 1.35® 5.50 SHEEP AND LAMBS Receipt*. 108; market, steady. Good and choice $ B.oo® 9.00 Common and medium 6.50® 8.00 Medium and choice 3.00® 4.50 Cull and common 1.50® 3.00 Other Livestock Bp United Pres*

CHICAGO, March 10.—Hogs—Receipts, 19.000, including 3.000 direct: mostly 15® 35c higher than Monday: lightweights active. up most; heavies slow: top. SB-35: 160-230 lbs., *[email protected]: 240-340 lte„ *7JO @8; pigs, $7.50(38: packing sows, 58.35® 5.80, light lights, 140-160 lbs., good and choice. 4808.25; light weight, 100-300 lbs., good and choice. [email protected]; medium weights. 200-250 lbs., good and choice. $7.75 ©8.30; heavyweights. 250-350 lbs., good and choice. [email protected]: packing sows. 275-500 lbs., medium and good, $6.3508.75; slaughter pigs, 100-130 lbs., good and choice, $7.50@8. Cattle—Receipts. 9,000: calves. 2,000; fed steers aid ear lings weak to 35c lower: very little done and most early sales 35c off: highly finished weighty bullocks up to *11.25. but mostly early sales. s7®9; lightweight yearling heifers in broad demand, but kinds scaling 750-lb. and above weak: cows about steady, scarce; bulls steady, but vealers mostly 50c lower to pig packers: slaughter cattle and vealers; steers. 600-900 lbs., good and choice. $8.75@ 11.25; 900-1.100 lbs., good and choice. $8.75011.50; 1.100-1,300 lbs., good and choice. s9<ffill.2s; 1,300-1.500 lb*.. good and choice [email protected]; 600-1.300 lbs.. common and medium, $6.25@9; heifers. 550-850 lbs., good and choice. [email protected]: common and medium. $5.50(3)7.75; caws good and choice. $5®6.50; common, and medium. $3.75®5: low cutter and cutter cows. s3®4: buns, yearlings excluded, good and choice hoof. $4.25(5.5.75: cutter to medium. $3.5004.50: vealers. milk fed, good and choice, $7.25®9: medium. $607.35: cull and common. $4.5006; Stocker and feeder cattle: Steers. 500-1.050 lbs., good and choice, s7® 1.35; common sad medium. ss®7. Sheep—Receipts. 27,000; early market about steady; tendency lower on inbetween grade lambs; feeders very dull; several loads choice lambs, $909.25 to outsiders; fat ewes, s4® 5; slaughter sheep and iambs; lmabs 90 lbs. down, good and choice, $8,7509.35; medium, $7.7508.75; 91-100 lb*., medium to choice, $7.50®9.38; all weights common, $8.2507.75; ewes. 90150 Qm., medium to choice. $7.5009.35: sll weights common, $6.2507.75; ewes. 90-150 lbs., medium to choice. $3.50@5; all I weights cull and common, $204; feeding $35 ’ W " 7 * lbS “ ROO<I ami cbotce * $7.75® By United Press EAST ST. LOUIS. HI.. Match 10.—Hogs —Receipts, 5.000; market, uneven, steady J? iSc bißb r ; top, $8.30: bulk. 140-340 Cattle—Receipts. 3.800; calves, receipts. 1.200; market, steers slow, early sales steady: several loads. $6.8009.50; prospects steady on mixed yearlings and heifers: not enough low cutters or cows on sale to make a market: bulls steady: vealers 50c higher at $10.40. By United Press * SJNCJNHATT. March 10.—Hogs—Receipts. 3.000; held over none; active, mostly 10c higher on 160 lbs. up: lighter weights and sows 25c higher: better grade. 160-230 lbs.. laniely $8.60; heavier weight scare*, somewhat slow; some 260-275 lbs.. $3.2508.35-120-150 lbs. mostly $8: bulk sows. $8.35. Cattle—Receipts, 200; calves. 400: fairly active; mostly steady to strong: common end steers and heifers largely *6.7507.75; few steers upward to ss; most beef cows. $4.50®5.50; bulk low cutters and cutter cows. $2.75®4: bulls, $4.75 down; vealers closing steady after opening 50c lower: light sales good and choice. s9© 10: lower grades. $8.50 down. Sheep—Receipts. 50: not enough to make market; lambs quotable nominally steady to strong at $9 or better on best handy weights: fax ewes quotable $2.5003.50. By Times Special LOUISVILLE. March 16.—Hogs—Receipts, 500: market, 10c higher: 300 !be. ud. $135: 225-300 lbs.. $7.75- 166-235 Iba! $8.35; 130-160 lbs., *7.50; 130 lbs. down. *7: rough*. 35.35 0 6.35: stags. 84.88. Cattle —Receipts. 100: market, strong; prime heavy steers. [email protected]: heavy shipping steers. $6.5007.50: medium and plain steers. $5.5006.50: fat heifeta. $6®8.50: common to medium heifers. ss®s; rood to choice cows. $4.5005: medium to good raws. $3.7504.50: cutters. 53.35©3.75; canners. $3.5063: bulls. *3.SO@S: feeders. $6 ®7: medium to good feeders. ss®6; Stockers. $4.5006. Calves—Recotpta. 300: market. 50c higher: good to $.50: mediums. $607: common to medium $406. Sheep—Receipts. 50: market, steady: ewes and wether lambs. $8.50: buck lambs, $7.50: seconds. $5.50 down: clipped sheep. $304. Mondai'** shipments—Cuttle. 89calves. 91: hogs, 104: sheep, none. By United Press FT. WAYNE. Ind.. March 10—Hogs—35c higher: 100-140 lbs.. $7.15: 100-14$ lbs.. s7.ls: 140-150 Ibe.. $7.55: 150-160 lbs.. $7.90; 100-180 Iba. $8.15 :180-300 lbs.. SA2&: 200330 Iba. $8.15: 330-240 lbs.. 58.86: a4o-380 lbs.. $7.95: 260-280 lbs.. 57.80: 3ftft-$0 Iba. *7.70 : 300-350 lbs.. *7.55: roughs. $5.75; stags. $4: calves. $9.50: lambs, ss.so. By United Press CLEVELAND. March 10.—Hogs—Reeeipte. 1.000: holdover, none: mostly 35e®35r higher, but net so active on heavier weights: too. $8.75 on, 160-220-lb. offerings. plainer lot. $8.65: S3O-250 Iba. sß.so; heavier butchers. $8®8.35: pigs. $6; rough sows. $6.25: stags. $4.35. Cattle—Receipts, 300; mostly failed showing Monday's full advance: many cows. 50c over week end; some steers rated 75c above last midweek: load common steers. $7.35; good cows ux-ward to *505.50: few .ov cutters under $;t.3S. Calves —Receipts. 43ft: aetive, strong to 50c higher at $10.504111; occasionally. $11.50: bulk medium kinds. $9.50 down: few culls under $6. Sheep—Receipts. 900: weak to. 25c lower; clipped lambs, s*©s.so: wpolsktns agate scares; package nearly good. $9.

| Business Bright Spots | Definite gains to steel, autos aad textile* to last month American Bankers' Association Journal says. Oakland Motors February sales. 8.658 unit* against 1.189 la January; Studebaker raises output 50 per cent over February: Cadillac step* up April production schedule to 3,000 from 2,600; February new ear registrations up. Midland steel products March operations at 70 per eea against 50 to February. Residential building to New York area at normal to February, F. W. Dodge Corporation says. Steady growth to demand for oloetrieal equipment reported by Electrical World. Westtnghouse Electric gets order for firs 400-horse power electric ears for Sante Ft Railroad. Youngstown district operations Increase t per cent this week. Chicago district operation* average 55 to 60 per cent this week, against 55 last week. Foster Wheeler Corporation 1998 net $6.34 share against $8.85 to 1928. Santa Pe handled 38,587 ears week ended March 7, against 27,138 year ago. J C. Penney February sales $9,539,774, against $6,778,119 year ago. New York Bank Stocks By Thomson. A McKinnon) —March 9 Hid. Ask. America 68 71 Bankers 117% 130% Brooklyn Trust 51* 346 Central Hanover 3< 370 Chase National .. IC|3% 105% Chatham Phoenix Natl.... 113 86 Chemical 49% *l% City National 100 ‘/a 103% Corn Exchange 138% 139% Commercial 315 335 Continental ; M% 37% Empire 117 80 First National t.WS 4,285 Guaranty 5:19 544 Irving J 9% 41% Manhattan A Company.... 30% 93% Manufacturers *9% 51% New York Trust 184 189 Public 61 64 Bank Clearings INDIANAPOLIS STATEMENT —March 10— Clearings $9,909,000.00 Debits 4,951,000.00 CHICAGO STATEMENT Clearings $65,000,000.00 Balances 4,300,000.00 TREASURY STATEMENT —March 9 Net balance fer March 6....5130.707.971.79 Expenditures 5.818.389.71 Customs receipts, mo. to date 5.884.109.49

$75,000,000 The New York Central Railroad Company REFUNDING AND IMPROVEMENT MORTGAGE 4H% GOLD BONDS, SERIES A (Additional Issue) Dated October I, 1913 Due October 1, 2013 Bearing interest from Aprfl 1, 1081, payable April 1 and October 1 in New York City Redeemable, as a whole but not in part, at the Company’s option, upon published notice, on any interest date, at 110 % and accrued interest. Coupon Bonds in denominations of SI,OOO and SSOO, registerable as to principal. Registered Bonds in denominations of SI,OOO, $5,000, SIO,OOO and $50,000. Coupon and registered Bonds interchangeable. - Legal Investment, in the opinion of counsel, for Savings Ranks in the States of New York, Massachusetts, Connecticut and New Jersey. t The issae and sale of these bonds are subject to authorization by the Interstate Commerce Commission. Guaranty Trust Company of New York, Corporate Trustee. r Albert H. Hams, Esq:, Chairman of the Executive Committee of the Board of Directors of The New York Central Railroad Company, has summarized as follows his letter to us regarding the Company and this issue of Bonds: sTTPoocv These Bonds are being issued to provide for the payment of $50,000,000 of The rtsrVaT-p Lake Shore and Michigan Southern Railway Company's 4% Gold Bonds, maturing May 1, OK issue iOBi t and to reimburse the Company for the payment of other debt previously retired and tor expenditures incurred in the making of additions and improvements to its owned and leased properties. The New York Central Railroad Company now operates about 10,400 miles of railroad, excluPROI ERTI B i ve of trackage rights, of which 4,120 miles are operated under Indentures of lease dated January 2, 1980. By these indentures the Company leased from February 1,1980, for a term of 99 years, the properties of its controlled companies. The Michigan Central Railroad Company, The Cleveland, Cincinnati, Chicago and St. Louis Railway Company (Big Four), and the Chicago, Kalamazoo and Saginaw Railway Company and the leasehold interests (for not exceeding the nnexpired term* thereof) of those companies In other lines. -** a Dvrenfi The following table of revenues and charges has been prepared to indicate the earnings for EAKiuflus the last five years of the New York Central and the companiee the properties of which are no operated under lease (eliminating Inter-company payments as to dividenls on stock and interest on 1 uW. vOdness, but Including in fixed charges for each year an amount equal to annual dividends payable under sases executed in 1980 on shares of minority stock outstanding on February 1 of that year): Yean Ended Gross Operating Income Applicable December 81 Revenues to Fixed Charges Fixed Charges Net Income " 1926 $597,564,118 $131,721,547 $54,718,929 “T~577,002,f 8 1927 572,080,510 117,095,969 58,981,840 63,114,129 1926 570,169,610 122,680,086 55,240,442 67,489,644 1929 590,006,628 129,565,216 1 52,384,291 77,180,925 1950 478,918,347 89,705,297 53,744,143 35,961,154 Income applicable to fixed charges on the above bates amounted to 1.6 times fixed charges in 1930, and in each of the four previous yean was more than twice such charges. Also in of the four fiscal years prior to the effective date of the above mentioned leases the Income of the Company applicable to fixed charges amounted to twice its fixed charges. Upon the issuance of these bonds there will be outstanding in the hands oi‘ the public SECURITY §200,000,000 bonds secured by the refunding and improvement mortgage. The tvortgage is a direct lien on substantially all of the owned railroad of the company, subject to the prior liens, *u so far as they attach, of underlying bonds outstanding in the hands of the public on December 31, 1930, to a total principal amount, after giving effect to this financing, of $372,951,000. All of the leasehold interests, with minor exceptions, acquired, by the New York Central under the leases effective February 1, 1930, were subject to the lien of the Mortgage by supplemental indenture. - Securities pledged under the Mortgage include 99 % of the capital stock of The Michigan Central Railroad Company (about 90% of such pledged stock of that company being subject to prior pledge under an indenture securing $19,836,000 of outstanding bonds), and 98% c* the common stock and 85% of the preferred stock of The Cleveland, Cincinnati, Chicago and St, Louis Railway Company. The company's net investment, after depreciation reserves, in road and equipment and in EQUITY ( miscellaneous physical, property, improvement s on leased railway property and other Investments amounted on December 31, 1930, to $1,508,035,314. This compares with total long term debt, Including equipment trust obligations of the company outstanding in the hands of the public on that date, after giving effect to this financing. The company hew outstanding $490,259,785 par value capital stock. The New York Central and all railroad companies the properties of which are now operated under lease had, on December 31, 1930, a total net Investment, after depreciation reserves. In road and equipment and improvements on leased railway property of $1,884,047,314. This compares with $1,048,996,650 aggregate long term debt, Including equipment trust obligations, of the N3w York Central and such lessor companies outstanding in the hands of the public on that date, after eliminating inter-company holdings and after giving effect to this financing. A portion of such debt, including $80,702,500 principal amount represented by bonds of the West Shore Railroad Company and of the Boston and Albany Railroad Company, has been guaranteed by indorsement by the New York Central Railroad Company. The total net Investment in Roeul and Equipment (after deducting reserves for depreciation) and improvements on leased railway property of the New York Central and of companies now operated under lease amounted on December 31, 1930, to $1,834,047,314. This compares with $1,0*8,906 ,650 aggregate long term debt, ineluding equipment trust obligations, of the New York Central and such lessor companies outstanding in the hands of the public on that date after eliminating inter-company holdings and after giving effect to this financing. The foregoing is subject to the more complete state ments contained in the circular , a copy cf which may bs obtained upon application. THE 'ABOVE BONDS ARE OFFERED, SUBJECT TO PRIOR SALE 'AND TO THE CONDITIONS STATED BELOW, AT 100% AND s ACCRUED INTEREST. The right is reserved to reject any or all applications, and also, in any case, to allot a smaller amount than applied for. All applications will be received subj ect to the due authorization, issue and sale of the Bonds as planned and to approval by counsel of the form and validity of related documents and proceedings. The amounts due on confirmed sales will be payable at the office of J. P. Morgan <Ss Cos., in New 1 ork funds to their order, and the date of payment (on or about April 1,1931) will be stated in the confirmations of sale. Temporary Bonds or Interim, Receipts, exchangeable for definitive Bonds when received, are to be delivered. J. P. MORGAN & CO. FIRST NATIONAL BANK, New York THE NATIONAL CITY COMPANY GUARANTY COMPANY OF NEW YORK BANKERS COMPANY OF NEW YORK CHASE SECURITIES CORPORATION HARRIS TRUST AND SAVINGS BANK KIDDER, PEABODY & CO. LEE, HIGGINSON A CO. New York, March 10, 1931.

GRAIN FUTURES HOLD FIRM ON FOREI6N NEWS k Steadiness in Wheat Prices and Farm Report Are Strong Factors. By United Brest CHICAGO, March 10.—Steadiness abroad and at Winnipeg gave the deferred wheat futures a firm opening on the Board of Trade today. There was scattered buying and very little pressure at the start, despite the bearish quality Os the farm reserve figures. Com was firm, but was only a small fraction higher at the start. The steadiness In wheat and the government’s farm report were sustaining factors. Oats were uneven, March again met liquidating sales at the start, but the other months were steady with wheat and corn. Liverpool Uneven At the opening old wheat was Tv cent lower to hi cent higher, new wheat was unchanged to hi cent higher, com was hi to % cent higher and oats were hie lower to he cent higher. Provisions were weak and lower. Liverpool was higher than expected again this morning, holding around steady at % cent lower to hi cent higher, at midafternoon. Buenos Aires was hi cent lower near noon after a higher start. The government’s report Monday on farm reserves ’.’’as considered somewhat bearish ?s It, showed 17,000.000 bushels above vbe private experts, leaving a total of 160,000,000 bushels still on farms. Apparently there was less wheat fed than had been anticipated earlier. Corn Report Bullish. Winnipeg is being watched closely as that market is stronger than

J Local Wagon Wheat „Oiftr min • Isv*ton *rw portae 68c for No. 1 red wheat sad 64* for No. 1 hard wheat. Chicago, owing to a good export demand for Manitoba*. The farm reserve report on com was rather bullish. It revealed 30,000,000 bushels less on farm* than the figures of the private experts. Feeding was greater than looked for, the result erf wheat's rising to corn levels during the winter. The oats report was likewise bullish, 21,000,000 bushels less than the private reports being shown in the government’s figures. It was not expected to have much effect, however. Winnipeg Higher WINNIPEG, March 10.—Wheat futures were fractionally higher today at the opening on the Winnipeg Grain Exchange. The opening prices: May unchanged to }4c higher at to 60%c; July, %c to hie higher at s2Y*c to 62%c; October, %c to hie higher at WHc to 04%c. Chicago Grain Table —March 10— WHEAT (Old) Pr*v. „ High. Low. 11:00 close. Mav 81% 81% .81% .81% ly 64% .64% .64% .64% September 64% .63% .04% .63% CORN (Old) May 66% .64% .66% .64% July 67% .67% .87% .60% September ... .67% .66% .67% .06% OATS (Old) Mav 31% .31 .31% .31% July 32% .33% .32% .32% September ... 32% .32% RYE (Old) Mav 40% .40% July 41% .41% LARD (Old) Mav 9-68 9.03 July 9.15 9.10 9.15 1.17 By Times Special CHICAGO. March 10.—Carlota: Wheat. 162: corn, 101; oats, 9; rye, 0, and barley. 1. NEW YORK COFFEE RANGE • —March O High Low. Close. March 5.14 5.00 5.13 May 5.30 5.11 5.15 July 5.39 5.20 5.22 September 5.30 .... 5.30 December 5.42 5.37 5.40

.MARCH 10, 1931

REGISTRATION BILL PASSED AT LAST MOMENT Pol! Tax Measure Is Also Sent to Leslie for Final Action. Members’ of the Indiana League of Women Voters were waiting action, or possaWe inaction, of Governor Harry G. Leslie today on their permanent registration bill. Although a Democratic platform measure, the bill passed the Republican senate Monday night by a vote of 43 to 2. Leslie pocket vetoed a similar measure In 1929. Under provisions of the bill the county clerk is made registration officer, assisted by township assessors. Failure to vote for a two-year period will result in registration cancellation. To vote would require re-registration. Failure to sign the bill will result in pocket veto. Increased payment of poll tax 1* provided in another bill which secured last minute passage. It provides that no man between 21 and 50 can obtain any state license, except hunting and fishing, without showing receipt for poll tax payment. Backers of the measure contended it will bring an additional $500,000 into the treasury. Total Dividend Payments February cash dividend payments made by domestic corporations totaled $237,903,422, according to the Standard Statistics Company of New York. Rails led the list of major divisions with a total of $55,025,077, while electric light and gas companies were next with $40,050,311.