Indianapolis Times, Volume 43, Number 28, Indianapolis, Marion County, 12 June 1931 — Page 25

JUNE 12,1931

STOCK MARKET SELLS LOWER IN DULL TRADE Part of Early Weakness Absolved In Rally at Noon.

Average Stock Prices

Average of thirty industrials for Thursday was 138.37, off 25. Average of twenty rails was 77 45. up 2.29 Average of twenty utilities was 55.20. up .05. Average of icrtv bonds was 94.74. un .06. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 12.—The stock market today declined 1 to 5 points In early trading, rallied partially and around noon was down fractions to 2 points. The feature was the dullness of the trading. Steel common moved between 90’4 and 89%, off l?i at the latter price; Westinghouse Electric, between 64 and 62%, off 1%; General Motors 35 % and 34%, off 1%; Auburn 166 and 159%, off 7%; New York Central 87 and 84%, off 3%; Atchison 158% and 154, off 3%; Consolidated Gas 92 and 91, off 2%. Move Up From Lows Around noon these issues were up from the lows, but still down from the previous close. Utilities were meeting lighter offerings, but coppers showed a softening tendency on announcement of a rise in stocks >f refined copper on hand June 1 as compared with May 1. A few issues worked against the trend. International Telephone was one of these, rising to 27%, up 1% points, and holding most of the gain. Buying was induced by declaration of the regular quarterly dividend of 50 cents a share on tHe stock. Earnings for the first quarter were 7 cents a share under the dividend requirement. Loft rose nearly a point to 5% on belated recognition of the large increase in the company’s May sales reported Thursday. A factor unsettling the list in the early trading was the situation in Germany which was responsible for further selling of German bonds here. Wall Street regarded the overnight announcement railroads were to ask for als per cent freight rate increase as very constructive, but holders of railroad stocks unloaded to take profits, and brought a sharp decline in the leading issues. A favorable item came in the Bradstreet weekly review where it was stated “retail trade throughout the country appears to have halted, at least temporarily, from its downward tendency towards midsummer slackness discernible last week.”

Bank Clearings

INDIANAPOLIS STATEMENT —June 12— Clearings $2,651,000.00 Debits 5,507,000.00 CHICAGO STATEMENT —June 12— Clearings ..$73,400,000.00 Balances 5,500,000.00 TREASURY STATEMENT —June 12— Net balance for June 10 $47,580,199.52 Expenditures ’.2.910.017.80 Customs rec-ts. month to date 9,169.641.62 Marriage Licenses William 8. Colwell, 19. R. R. 7. Indianapolis. mechanic, and Ruth Ellen Evans, 19. of 110 West Fifteenth street. Raymond J. Littell. 22. of 2360 English avenue. salesman, and Alberta L. Ransdell, 18. of 2360 English avenue, dental assistant. David Rubv Wickes. 13, of 1222 North Gale street, advertising, and Dorothy L. Doach. 23. of 1202 North Oxford street. Dr. James Ralph McLaughlin. 30. Indianapolis. physician, and Lorene Marie Enalehardt. 31. of 2632 Central avenue, teacher. Rov E. Lange. 24. of 835 North Tuxedo street, plumber, and Gertrude E. Bundchu. 23. of 5014 East Tenth street, stenographer. Thomas E. Gross. 21. of 1005 East Dudley street, bus driver, and Helen V. Craig. 14. Edgewood. George Philip Scott. 27. of 3653 Terrace n-enue. laborer, and Lucy Lasley, 28, of 1144 Madeira street.

New York Bank Stocks

(By Thomson and McKinnon) —June 11— Bid. Ask. America 42 45 Bankers 91% 9414 Brooklyn Trust 405 420 Central Hanover 227 232 Chase National 71*4 74*4 Chatham Phoenix Natl... 57 60 Chemical 41% 43% Citv National 74 Vi 77 Vi Corn Exchange 97 101 Commercial 245 255 Continental 13 21 Empire 43% 46% First National 3.275 3.475 Guaranty 441 446 Irving 30 32% Manhattan & Cos 71% 74 V. Manufacturers 40 42 New York Trust 137 142 Public 45% 48% Chicago Stocks Opening (Bv James T. Hamill & Cos.) —June 12 — Assoc Tel Util.. 23%;insull com 25% Bendix Avia.... 16% Midi Un com.. 18% Borg Warner... 16%'Middlew com... 16% Cent So West.. 14% Nat Sec pfd.... 65 Cord 00rpn.... 8% Noblitt Sparks.. 30 C nCh Cp pfd 35 Swift & C 0..,. 26 Cent Pub Serv. 12 I Swift Intern 32 Commonw Ed . .195% U S Ra & Tel.. 18% Chgo Sec 15 I Zenith Radio... 2% New York Liberty Bonds —June 11— 3%s 102.18 Ist 4%s * 103.14 4th 4%s 104.30 Treasury 4Us 114. Treasury 4s 109.13 Treasury 3%s of ’47 103 8 Treasury 3%s of *43 (March) 103.4

Local Wagon Wheat

Citv drain elevators are paying 69c lor No. 1 red wheat and 67c for No. 1 hard wheat.

New York Curb Market

<Bv Thomson & McKinnon) 11:30 11:30 m Com Pwr . 12‘* Gals Oil J 8 Am Gas & El.. 58\< Insull Ut 25% Am Lt & Tr.. 37 Int Pete 10% Ark Gas 3 s * Midwest U 16% Aviation of Am 15% Mt Prod 3% Can Marc .. 2% Nia Hud Pwr .. 10% Cities Serv .. 11% Penroad 5% Cord 8% Prince & Whtlv 1% Durnt Mot .... 1% Salt Creek ... 12 Blec Bond Sh.. 35 Sel Indus 4% Ford of Can .. 16% Shenandoah ... 5% Ford of Eng.. 11% Std of Ind 24% Fox Theater .. 3% vacuum Oil .... 39 Goldman Sachs 5%!

Investment Trust Shares

Glbfoa Si Bernard) PEICES ARE fO 12 NOON C. S. T. —June 12— - . Bid. Ask. ■ Amer rounder’* Corp com ... a 7 * 3 Am St Oen Sec A 13 Am Inv Trust Shares 4; 3>4 Basic Industry Shares .4 1 * 5 1 * Corporate Trust Shares '4* 5Vi Cumulative Tr Sh 6>s 6H Diversified Trustee Shares A.. 14'4 ... First American Corp 71* Fixed Trust OU Shares 3*4 Fixed Trust Shares A 12*, Inv Trust NY 6 7 Leaders of Industry, Series A ... Nation Wide Seculrtles ....... 5S National Industry Shares 4 3 < 514 N Am Trust Shares 4*4 ju Bel Am Shares 4*4 514 . Sbawmut Bank Ir.v Trust ... 6 8 w Universal Trust Share* 5 5Vi Super Corp of Am Tr 8h A... 3H 6 Fundamental Tr 3h A 6 e ! 4 Fundamental Tr Sh B 814 7 Q @ flea Light A Birr A 37

New York Stocks

—June 13— _ _ Railroad*— Pr*w High. Low 11:30 close. Atcfcltcn ; .158% 154 154 157% Atl Coast Line •••, ?*,, Balt 0hi0.... 55% 53 55 % 56% j Chesa & 0hi0... 35% 35 35% 36 Ctesa Corp 35% 38 ! Chi Ort West • ,5% Chi N West 33 33,, 32 33 ' C R I t P.... 35% 34% 34% 33% Del L it W 56% 55% 55% 56% : De! A: Hudson : Erie 20% 70 30% 20% 1 Great Northern.. 54 53% 53% 54% Illinois Central 46% I ia.i Citv So. 30 31 ivl K tz T 14% 13% 14 14% Mo Pacific 21 20 30 21% Mo Pacific ofd 61% 80 60 61% N Y Central 87 84% 85% Bi% 7 V N H &H. 75 73 % 74 74% ' Ncr Pacific 40% 39% 39% 40% , Noriclk 6s West.. ... ... 153 161% O &W. 10% 10 10% 10% ’’er.nsrivanii'3o% *48% *% 50% ■ Reading , 3>‘l^fl= Alr 81 1 4 79 80 " 81% feuvhern Ry 32% 30% 30% 32% ot Ptul . ••• 5% 5% St Paul old.. 9 8% 9 |StL &8 F .... ■ 13% Union Pacific ..to#’.a 157% 15<% 157 Wabash - 12% W Maryland . * 12% 11% 11% 12% : West Pacific .... 7% Equipments— Am Car it Fdy. 17% 16% 16% 16% i Am Locomotive 15% Am Steel Fd 14% 14% Gen Am Tank.. 55% 56% 55% 56% General Elec ... 40 39 39% 40% Lima Loco ... 2174 21% Press Sti Car 3 Pullman 34% 34% Westing!) Ar B ... 33% Westineh Elec.. 64 62% 63 64% Rubbers—i Firestone ...... ... 18 17% ' F.sk % % ! Goodrich ~ . .. 11% Goodyear 34% 34-/2 34% 36 • Kelly Sprgfld .. Hi ; Lee Rubber 33 ! U S Rubber 12% 12 Motors— Auburn .. 166 159% 160 167 Chrysler 17 16% 16% 16% Gardner A* ... I Graham Paige 3% 7% General Motors. 35% 34% 34% 35% ; Hudson 13% Hupo 6% Mack 30% 30% 30% 30 Marmon 3% Nash 24% 24% 24% 24% Packard ........ 7 6% 7 7 ! Reo ... 6% | Studebaker ... 16% 16% Yellow Truck... 7% 7% 7% 7% ) Motor Access— Bendlx Aviation 16% 16% 16% 16% Borg Warner... 17% 16% 17% 16% Briggs 10% 10 10 Budd Wheel 8 Campbell Wy 11 ... Eaton 10% 10% El Storage B 53% ... Haves Body 3% Houda 5 Motor Wheel ... 10% 10 Sparks-W 9/2 Stewart Warner 9% Timkin Roll 34% 34% Mining— Am Metals ••• 3% Am Smelt 29 28% 28% 29% Am Zinc ... .... 4% Anaconda Cop.. 23'/s 21% 2i% 22% Cal & Hecla.... 6 5% 6 6 Dome Mines ... 11% 11% 11% 11% Freeport Texas 25% 25% Granby Corp 10% Great Nor Ore 18 Howe Sound - 11% Int Nickel 11% 11% 11% ... Kennecott Cop.. 17% 16% 1674 17% Magma Cop 12 Nev Cons 8% 8 Texas Gul Sul.. 3274 32% 32% 32% U S Smelt 14% Oils— Atl Refining 13% 14% Barnsdall 6’% 6% 6% 7% Houston 8 7% 8 8% Indian Refining. .. . . ... 2V4 Ohio Oil 8% 9 Mex Sbd 14% 14 14 14% Mid . Conti ..... 8% 8 8 8 Phillips 6% 6% 6% 6% Pr Oil it Gas 9*4 9% Pure OH ... 6% Richfield 1% Rova.l Dutch 26 % 26% Shell Un 5% 6 Simms Pt 5% ... Sinclair 774 7 % 7% 7% Skelly 374 4% Stand of Cal .. 36% 36 36 35% Stand of N J .. 34% 34 34 35% Stand of N Y .. 16 1 574 1 6 1 6 Texas Cos 20 18% 20 20 Union Oil 18% Steels— Am Roll Mills .. 1874 18 18 18 Bethlehem 44% 43% 44 44% Byers A M.... 31% 30% 30% 32 Colo Fuel 12% Cruc Steel 37% 3644 Ludlum 10% Midland 18% 18% 18% 19% Repub I it S 12% 12 U S Steel 90% 89% 89% 91% Vanadium 31% 30% ' 31 31% Youngst S&W ... 19% Youngst S St T 41 Tobaccos— Am Sumatra.... 7% 7% '7V4 ... A Tob A (new) ... 107% A Tob B (new) 112% 110% 111% 112 Con Cigars 32%%... General Cigar 34 Llg & Myrs (B) 65% 65 65% 65% Lorillard 14% 14% 14% 15 Phil Morris 10 10% Reynolds Tob.. 4874 48% 4874 49% Tob Pr B 274 274 United Cig 4% Utilities— Abitibi 3% Adams Exp... 13% 13% 13% 13% Am For Pwr.... 26% 25% 25 5 4 26% Am Fwr & L 1... 35% 357a 3574 3674' A T & T 169% 167 168 169 Col Gas & E 1.... 26% 26 26% 27% Com <si Sou ... 8 8 El Pwr & Li 3674 35% 36 74 37 74 Gen Gas A 5 4% 5 474 Inti T & T..... 26 74 25 7) 26 % 25% Natl Pwr & Li... 25 24 24 25% No Amer C 0.... 64% 6374 63% 64% Pac Gas & E 1... 43% 43% 43% 43 Pub Ser N J 79% 79 79% 80% So Cal Edison... 41 74 41% 41% 41 Std G &El 63 62 62 % 63 United Corn ... 2274 2174 21% 22% Ut Pwr & L A.. 23 22% 22% 23 West Union ...112% 110 1110 11074 Shipping— Am Inti Corp 1274 12% United Fruit 55 Foods— Am Sug 48 Armour A . ... •••.. 1% Beechnut Pkg 49% ... Cal Pkg 23% 24 Can Drv 43*4 42% 42% 43% Childs Cos 20% 20% Coca Cola ... 145 Cont Baking A 11% 10% 11% 11 Corn Prod ... 6374 63 63 647a Crm Wheat 2874 28% Cudahy Pnkg ... 38'4 Cuban Am Sug Gen Foods 47 46% 47 47 Grand Union ... .. . 15% 16 Hershev ... ... 92% Jewel Tea ... ... 40 . Kroger 27% 2674 26% 27% Nat Biscuit .... 65 64% 6474 66 Plllsburv 27 2874 Purity Bak ... 30 Safeway St ... ... 51*4 S'd Brands ... 17% 17 17% 16% Ward Bkg 3*4 Drugs— Coty Inc ... 7% Lambert Cos ... 66% 67 ! Lehn & Fink 25 Industrials—'Am Radiator 12% 12*4 Gen Asphalt ... 20 2074 Lehigh Port 10 Otis Elev ... 3674 Indus Chems— Allied Chem ....11874 117% 117% 119% Com Solv 13% 13% 1374 13% Union Carb .... 49 48% 48% 4974 U S Ind Alco 2374 Retail Stores— Assoc Drv Gds 1974 20% Gimbel Bros 5 May D Store 32% Mont Ward 19% IS% 19 19% Penny J C 32% 32% Schulte Ret St 5% Sears Roe 52% 51 % 51% 2% Woolworth .... 69 68% 68% 69%

Indianapolis Stocks

—June 12— Bid. Ask American Cent Life Ins Cos. .1.000 Belt R R & S Yds Cos c0m.... 30 36Va Belt RR & S Yds Cos pfd 6s . 49‘5 55 Bobbs-Merrill Cos 20 26-4 Central Ind Pow Cos Did 75.. 78 83 Circle Theater Cos com ?s no Citizens Gas Cos com 10s 22 Citizens Gas Cos pfd 5s 95 Commonwlth Loan Cos pfd. 7s 97 101 Commonwealth In Cos .pfd 85..100 Hook Drug com 7 Indiana Hotel Cos Clavpool C.. 105 Ind Hotel Cos pfd 6s .... 100 •Indpls Gas Com 6s 5S 59'i •Indpls Pw & Lt Cos pfd 6Mj5.103 ! ; ICS Indpls Pub Wei Ln Assn cm 8s 50 •Indpls Wa Cos nfd 5s 100 Pub Servos Ind 7s 98 101 Pub Servos Ind Cs 84 89 Metro Loan Cos 8s 101 North Ind Pub Ser Cos pfd s>js 93 93 No Indiana Fub Sv Cos pfd 6s 100 104 No Indiana Pub Cos 7s . ..110 E Rauh A- Sons Fert Cos pfd 6s 47 Shareholders Invest Cos R Ter Haute Tr £: LI Cos pfd 6s 83 Union Title Cos com 3s .. ... 15 Van Camp Prod co Ist pfd 7s 93 Van Cair.D Prod Cos 3d pfd 8s 93 Backstay Welt Cos com 13 "16 Ind Pipe Line Cos Link Belt com 21 23 Lynch Glass Machine Cos com 16 18 Noblttt Snarks Industrial Inc 28 1 5 30^4 Perfect Circle Cos c0m,... Real Silk Hosiery Mills Ir.c co 6 3 7H Standard Oil Cos (Indiana!... 24 V 4 34= 4 Ross Gear 19 21 Natl Tile 4‘i 6 J D Adams Manufacturing Cos 18 20 •Ex dividend. BONDS Bid. Ask. Belt R R & Sik Yds Cos 4s ... 92 Cent Ind Gas Cos 5s 99 Cent Ind Power Cos 6s 100 Citizens Gos Cos 5s 100 Citizens Street Railroad 5s ... 21 25 Home T St T of Ft. Wavne 65.102 ; 4 ... Ind Rallw &: Light Cos 5s 93 Indp's Pow At LI Cos 5s 103>.4 Indpls Gas Cos 5s 10? Indpls Street Rvs 4s 12 Indpls Trac Terminal Cos 55... 44 Indpls Union Rv 5s 103 Indpls Water Cos 5’54 ....104 Indpls Wat Cos Ist Hen ref ss. 100 Indpls W’ater Cos 4ts 99 ... Ir.dpls Water Wks Sec Cos ss. 89 Interstate Pub Ser Cos 4\*s.. 93t4 ... InterstatcTub Ser Cos 181 61j5105 ... No Ind *Jb Serv Cos 5s ) A t Terr* H | AU H WWMt M M t

Amusements— Col Graph ...... 7% 7% 7% 7% Eastman K0d...133 1 29% 130 132 Fog Film A.... 19% 18% 19% 19% Grigsby Grunow 4 3% 3% 4 Loews Inc 42 41 41 42% Param Fam 23*4 23 23 23 Radio Corp 15% 15% 15% 15% R K 0 1374 13 13 13% Schubert 33 Warner Bros ..7% 7 7% 7% Miscellaneous— City Ice it Pu 31 31 1 Congoleum 11 10% 11 10% Amer Can 102% 101 101% 103 Cont Can 4774 47 % 47% 47% Curtiss Wr 2% 2% 2% 2% Gillette SR 24 23% 2374 24 Rea! Silk 7 6% 6% 6% Un Aircraft .... 3674 25% 2574 26% Ir.t Harv 41 42

Fruits and Vegetables

FRUITS Apples—Greenings. $2 a bushel: Delicious. $2.50: Wealthy. $1.75. Boxes: Delicious. gtaymen. $2.50®2.75; Robe Beautv. $2.50; I Wlnesap. $2.100,2.60; Baldwin, $5.50 a bar- ' rel. Cantaloupe—California, $3.50 a crate: Jumbo. $4; Pony. $2.75. Cherries —California. $2®2.25 an 8-lb. box. Grapefruit—Florida. $3©3.50: Texas. $4; bulk. $2.50 a 100 lbs.: California. $4.75. Lemons—Fancy California. $40.5 a crate. Limes —Dominican. $3.50 a 100. Oranges—California naval. $5®3.50 a crate; Florida. *4.50®4.75. Pears—Avacado. California. $3(23.50 a dozen. Pineapples—Cuban. 16s to 245, $3 a crate. Strawberries—Home grown. ss©6 a crate; Indiana, $5: Kentucky and Tennessee. $4 @5. VEGETABLES Artichokes—California. $1 a dozen. Asparagus—Home grown, 50c & doz. bunches; long green. 75c®$l. Beans—Florida. $2.2565:2.50 a hamper. Beets—Home-grown. Si a bushel; new Texas. $2 a bushel. Broccoli—Western. 55.50 a crate. Er.ssels Sprouts—43@soc a lb. Cab-age—Texas, new. $1.35 a 50-lb. crate, bulk. 3c a lb. Carrots—Marlon county. SI a bushel; T6..US. ne v. 01.25 a 50-lb. bag; California. .)?•■. .’a a dorm bunches. Cau.ificv.e:—California. 52.50 a crate. ' Lett. —Michigan, one-dczen-bunch car.ol3. 01.25: hear.s. 18 bunches. $2.25; caliioruii. 7 toien bunches. 53.50: Florida. . s J-cozsn-bunch crate. $4. I Celery Cabbage—Southern. $1.25 a i derm. j chives—sl.7s a dozen pots. ! Cucumbers—Home-grown. $1.2591.50 a | Jc:cn. Endive—California. $1.25 a dozen heads. Kale—Home-grown. 75c®$l a bushel. Lettuce —California. $2.50®3 a crate of j Is and ss; home-grown leaf. 60c a 15-lb. bosket. Mushrooms—3s®4oc a lb. Mustard—Home-grown. 75c a bushel. Onions—New Texas, yellow. $1.60; white, S2: Yellow Globe. 75c a bushel: white. 90c; home-grown green onions. 25c a dozen bunches. O.vster Plant—Home-grown. 40c a dozen bunches. '. Parsley—Marion county. 40c a dozen bunches; Southern. 90c. Parsnips—Home-grown, $1 a bushel. Peas—Telephone, Western. $2.5G , ®2.75 a hamper. Peppers—Florida. $5.50®6 a crate. Radishes—Hothouse, button 75c a dozen bunches; long red or white. 50c. Rhubarb—Hothouse. 30335 c a dozen bunches. , , ~ Spinach—Home-grown broadleaf. $1 a bushel. „ Tomatoes —Southern. 5-lb. basket, $1; 10lb. carton. $1; hothouse. $2.75 an 8-lb. basket. Turnips—Texas. $1.25 a busheL POTATOES Maine Green Mountain. 100-lb. bag. 52.75; Red River Ohio. 100-lb. bag. $3.25@ 3.50: Michigan round white. 100-lb. bag, $2.25: 150-lb. bag. $3.25; Idaho Russets, 100-lb. bag. $2.50: Idaho Rural, 100-lb. bag, $2.25: new Texas Triumphs. $2.25 a 100 lbs. (not bushels): new Florida, $3; Northern Wisconsin. $2.25 a 100-lb. bag. Sweet Potatoes —Tennessee Nancy Hall. $2.2565.2.50 a hamper. 50 lbs.; S2 a bushel; Indiana Jersey. S3 a bushel; Texas yams. $2.75 a 50-lb. crate.

Produce Markets

Egs;s (country run)—Loss off delivered in Indianapolis. 12c: henery quality. No. 1. 14c* No. 2. 9c. Poultry (buying prices)—Hens weighing 5 lbs. or over. 17c: under 5 lbs.. 17c; Leghorn hens. 14c: 1930 broilers. lull feathered 1 % lbs. and up. 23c: under T'/s lbs., 20c; bareback. 16c: Leghorn broilers. 19c; ducks. 9c- old cocks. B@9c: ducks, full feathered, fat whites. 9c: geese. 6c. These prices are for No. 1 too quality, quoted by Kingan it Cos. Butter (wholesale) —No. 1. 27®28c: No. 2. 25®26c. Butterfat—22c. Chese selling price per bound) —American loaf. 22c: pimento loaf. 32c; Wisconsin firsts. 19%c: Longhorns. 16Y2c: New York Umberger. 30c. By United Press NEW YORK, June 12.—Potatoes—Market. less active and easy; southern, sl@3 per barrel; Maine, [email protected] per barrel; Bermuda, $2.50@5 per barrel; Canada, $1.25® 1.40 per barrel. Sweet potatoes—Market, dull: Jersey baskets. 75c®53.25. Flour— Market, firm and higher; spring patents, 54.65®4.80. Pork—Market, quiet; mess, $22. Lard—Market, firm: mldalewest spot, [email protected]. Tallow—Market, firmer; special to extra 3%@3%c. Dressed poultry— Market* steady to firm; turkeys, 25@44c; chickens, 25®37c; broilers, 25®41c; fowls, 12©27c; Long Island ducks, 16@18c. Live poultry—Market, quiet; geese, 10@12c; ducks, 13@24c; fowls, 19@22c; turkeys, 15@30c; roosters, 13@14c; broilers, 20@35c. • Cheese—Market, firm; state whole milk, fancy to special, 12*/2@23c; Young America, i4@l9%c. By United Press CINCINNATI. 0.. June 12.—Butter, ■steady, creamery in tub lots, according to score. 20@22c: common score discounted. 2@3c: packing stock No. 1. 18c; No. 2, 12c; No. 3.8 c; butterfat. 17®18c. Eggs— Steady: cases, included: extra firsts, 16c; firsts. 14Vic; seconds. 14c; nearby ungraded. 15 %c. Live poultry—Thin and coarse stock sell only at heavy discount; fowls. 5 l'os. and over. 19c: 4 lbs. and over. 19c: 3 lbs. and over. 19c: Leghorns. 3 lbs. and over. 15c; roosters. 10%c; broilers, 1 lb.. 24c; 1% lbs. and over. 25c; 2 lbs. and over. 30c: partly feathered, 15@20c; Leghorn broilers. 1 lb. and over. 19c; black springers. 20c: 1% lbs. and over, 22%c: 2 lbs. and over. 26c. By United Press CLEVELAND. June 12.—Butter—Extras. 25%c: standards. 23%c: market, steady. Eggs—Extras, 16%c; firsts. 16c: market, easy. Poultry—Heavy fowls. 21c; medium. 22c: Leghorn fowls, 17c: heavy broilers, 25®32c: Leghorn broilers. 18®24c: ducks. 15©22c; old cocks. 12c: geese. 10@13c: market. steady. Potatoes —North and South Carolina Cobblers. $2.75ffi2.85 per barrel: Louisiana blue triumphs. $1.90 per 100-lb. sack.

Net • Changes

By Unite'd Press NEW YORK, June 11.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Ud Oft Alaska Juneau 14% ... % American Can 103 ... % American Telephone 169 1 Atchison 157V* 6% ... Auburn 167 Bethlehem Steel 44V* ... V Case 75% Consolidated Gas 92% ... % Electric Power ... 37Vi 2% ... Fox Film A 19% 1 % ... General Electric 40% ... % General Motors 35% ... % International Nickel 11% ... % International Telephone 25"s % ... Loew's Inc 42% % ... McKeeport Tin Plate 84 ... 1 Montgomery Ward 19% 1% N Y Central 87% 3 Pennsylvania . 50% 3 Radio 15% ... % Radio-Keith 13% ... % Standard Oil N Y 16 Transamerica 7% ... Vi Union Carbide 49% United Coro 22% .. % U S Steel 91% .. Vs Vanadium 31% % ... Westinehov.se El 64% ... I*% Worthington Pump 47 % ... Chicago Grain Table —June 12— WHEAT— Prev. High. Low. 11:00. close. Julv 57% .oi .57% .uV Sept 57% .ST*'* .57% .55% Dec 60% .60% .60% .60*'* CORN— Julv 56 55 5 , .55% .55% Sect 52 .51% .51% .51% Dec .45% .45% .45% .45% OATS — Julv .26% .26 .26 .25% Sept 25% .25% Dec 28% RYE— July 37 ,36V .36*4 .36% Sept. 38% .38% .33% .38V4 LARD— July 8.10 Sept 8.27 8.25 8.27 8.22 Oct g. 22 8.17 By United Press CHICAGO. June 12.—Cash grain close: Wheat—No. 3 hard. 79c: No. 2 red. 84c; l 2?, rth< £ n - „ 82c -, Com—No. 2 mixed, 55%'t56%c; No. 3 mixed. 55c; No. 6 mixed. |3*e: No. 1 yellow. 56%c: No. 2 yellow. 56% @56%c: No. 4 vellow. 55@55%c: No. 5 vellow. 54%c: No. 6 vellow. 52@52%c; No. 2 white. 57% <fi 57 Vic; No. 3 whit? 56%e: sample grade. 43c. Oats—No. 2 white 27%@28c: No. 3 white. 2,c; no. 4 white. 26c Rve—39% @4lc. Bariev—37® 54c. Timothy—S7.soSß. Clover—*ll.2s® 18 25. By United Press . TOLEDO. Ou Jne 12.—Close: Grain on track. 28% cents rate. Wheat—No. 2 red. 73@74e: No. 1 red 1 cent premium. Corn A,y® Uow ' M %056%c; No. 3 vellow, 54V*@55%c. Oat*—No. 2 white. 28S2Sc. Clover—Domestic prime, old. $13.50; prime new *13.75: prime choice, new. *l4: prime, choice, old. *13.75;. October. *13.75; December. *l4. Alsikjp—Cash. *l4. ButterFancy creamery,. 3#@27c. Eggs—Country Has-r-XuanUu per cmi,

THE INDIANAPOLIS TIMES

BUYERS FORCE JO-GENT RISE IN HOGPRICES Competitive Bidding and Light Receipts Aid in Upturn. June Bulk Early Top Receipts 5. $6.25® 6.45 $6.45 5.500 6. 6.25® 6.45 6.45 5.000 8. 6.25 3 6.45 6.80 5.000 9. 6.25a 6.55 6.55 7.000 10. 6.25® 6.65 6.65 3.500 11. 6.65 6.85 6.85 4.000 12. 7.15@ 7.35 7.35 4,000 Light supplies and sharp competition in buying forced swine prices up 25 to 55 cents this morning at the city stockyards Trade was fast. The bulk, 140 to 30'- pounds, sold for $7.15 to $7.35; early top holding at $7.35. Receipts were estimated at 4,000; holdovers were 108. Slaughter classes were active, selling strong to higher in the cattle market. Receipts were 300. Vealers held unchanged at $8 dowli Calf receipts numbered 500. Irregularity prevailed in sheep with little change noted. Receipts were 700. Chicago hog receipts were 15,000, including 5,000 direct. Holdovers were 4,000. The market was very active on weights below 250 pounds to shippers, fully 25 cents higher than Thursday’s average. A few loads brought $7.05 to $7.10, with an early top of $7.10. Some were held higher. Cattle receipts were 2.000; calves, $1,000; market strong. Sheep receipts, 8,000; market steady, were 13,000 and steady. HOGS Receipts. 4,000; market, higher. —Light Lights—-(l4o-160) Good and choice $ 7.25 —Light Weights—-(l6o-180) Good and choice.... 7.35 (180-200) Good and choice.... 7.35 —Medium Weights—-(2oo-220) Good and choice.... 7,35 (250-290) Medium and g00d... 7.15® 7.25 —Heavy Weights—-(29o-350) Medium and g80d... 6.90® .715 (275-600) Medium and g00d... 5.00® 6.00 Packing Sows—-(27s-500) Medium and g00d... 4.50® 5.50 (110-120) Slaughter pigs 7.00® 7.15 CATTLE (Slaughter Class) Receipts, 300; market, steady. " ■ —Steers— Good and choice $ 7.00® 8.50 Common and medium 5.50® 7.00 (1.100-1,500) Good and choice .. a 6.75© 8.25 Medium 5.73® 6.75 —Heifers—-(soo-850) Good and choice 6.50® 8.25 Common and medium 5.00® 6.50 —Cows— Good and choice 4.50®- 5.50 Common and medium 3.50® 4.50 Low cutters and cutters 2.00® 3.50 —Bulls (yearlings excluded) — Good and choice beefs 3.50® 4.25 Cutter, common and medium.. 2.25® 3.50 CALVES AND VEALERS Receipts, 500; market, steady. •“■"VfftTfrS l - Good and choice $ 7.50® 800 Medium 5.50® 7.50 Cull and medium 3.00® 5.50 —Calves—-(2so-300) Good and medium 5.00® 7.00 Common and medium 3.00® 5.00 STOCKERS AND FEEDER STEERS Good and choice 5.50© 7.50 Common and medium 4.00® 5.50 (800-1.500) . z- . . Good and choice 5. is@ 2-5® Common and medium 4.00® 5.75. SHEEP AND LAMBS Receipts, 700; market, steady. Good and choice $ B.oo® 9.50 Common and medium ........ 5.50@ 8.00 Cull and common i.75@ 2.50 Cull and common 1...... I.oo® 1.75

Other Livestock By United Press CHICAGO, June 12.—Hogs—Receipts, 15.000, including 5,000 direct; active, 25@35c higher on best 270 lbs. and down; heavier weights and packing sows, 10@25c higher; bulk 160-260 lbs.. [email protected]; top, 57.15: 270350 lbs., [email protected]; pigs. [email protected]; packing sows. $5.25(3:6; light lights, 140160 lbs., good and choice, $6.75@7; light weight. 160-200 lbs., good and choice, [email protected]; medium weights. 200-250 lbs., good’ and choice $7®@7.15; heavy weights, 250-350 lbs., good and choice, [email protected]; packing sows, 275-500 lbs., medium and good, $5.25@6: slaughter pigs, 100-130 lbs., good and choice, $6.50(3:6.85. Cattle—Receipts, 2,000; calves, 1,000; fed steers and yearlings, active, strong to unevenly higtoef; fat she stock, bulls and vealers about steady; early clearances of all classes: slaughter cattle and vealers, steers. 600-900 lbs., good and choice, $7.75 (39; 900-1100 lbs., good and choice, $7.50 @9; 1100-1300 lbs., good and choice, $7.50 @8.90: 1300-1500 lbs., good and choice. [email protected]; 600-1300 IBs., common and medium, [email protected]; heifers. 550-850 lbs. ( good and choice, [email protected]; common and medium, [email protected]; cows, good and choice [email protected]; common and medium, [email protected]; low cutter and cutter, $2.50@4; bulls (yearlings excluded), good and choice (beef), [email protected]; cutter to medium, $3.50@ 4.40; vealers (milk fed), good and choice, [email protected]; medium, $6.50@8; cull and common, [email protected]; stocker and feeder cattle, steers, 500-1050 lbs., good and choice. S6 @7.50; common and medium, ss@6. Sheep —Receipts, 8,000; generally steady, only few loads on sale, good and choice native lambs, $8.25@9; some held higher; yearlings unsold; few fat ewes, sl@2; slaughter sheep and lambs, lambs, 90 lbs. down, good and choice, [email protected]; medium, $6.50 @8.25; all weights, common. [email protected]; ewes, 90-150 lbs., medium to choice, [email protected]; all weights, cull and common, 75c @1.50. By United Press CINCINNATI, 0., June 12.—Hogs—Reciepts, 2,000; heldover. none; market, active, 20 to 35c higher; mostly 25 to 35c up; better grade 170-240 lbs., $7.35; weightier kinds scare; 250-270 lbs., quotable $7 @7.25; most 120-150 lbs., and lower grades 160 lb. averages, $6.75; bulk sows, $4.75 to mostly $5. Cattle—Receipts. 225; calves, 350; supplies light; bulls active to mostly 2oc higher; other classes steadv; a few common and medium steers and heifers. better grade steers, considered salable up to $8; beef cows mostly $4.25 @4.i5; some $5 and above; low cutters and cutters. 52.50t53.75; majority of sausage bulls, $3.75®4.75; vealers steadv; good and cnoice, s7@B: lighter weights mostly $7.50 @8; lower grades $7 downward. shep Receipts, 1,500; slow; lambs 25@50c lowerH> e „ e .p steady to weak; better grade lambs! £ ew . choice ewe and wethers, [email protected]; buck lambs. $1 below quotations; common and medium, s6®?; bulk ewes, $2 down. By United Press EAST ST. LOUIS, June 12 —Hogs—Receipts, 8.000: market, active; 15@20c highl°@lsc higher; top, 57.10: bulk, lbs.. $7; a few 55 .95: 130-150 lbs., sows largely $5 [email protected]. Cattle —Receipts 1,000; calves, receipts 800; market. not enough steers on sale to make ,® 13Cet1 yearlings, heifers and medium bulls, sieady; all cows strong* j£ alars ; A ower at 58: fat heifers up- ; d t° .5 3 • 50: cow s 4 @5; low cutters, , m o e £ lum b H lls - 84 down. Sheep —Receipts. 1.800; market, no early salespackers bidding steady on all classes. ,_ET- WAYNE. June 12.—Hogs—Market 10 J’ifher: WO-140 lbs.. $6.50; 140-160 160-180 lbs.. $6.95; 180-200 lbs., IJ-23; 20p-23p lbs., $6.95: 230-260 lbs.. $6.85. 260-300 lbs.. $6.75: 300-350 lbs., f 8 : 88 -. roughs. So; stags. $3.50; calves $8 lambs, $8 down. By United Press ,r June 12.—Hogs—Market th? 5 g *Sc ;lbs - 7.05; 250-275 lb s - $5.55, 2<5-300 lbs.. $6.85: 300 325 lb |§.io: 1-0-160 lbs.. $6.75; 120-149 i;-i" j B - B ®-. 100-120 lbs.. $6.50; roughs. ss’ob down, top calves, $;; top lambs, 57.50. By United Press TOLEDO. June 12.—Eoes— oiw. market. 25@50c higher; heavier. s6@6 50mediums. *6. <307; yorkers, $6.75@7; pigs! so. is,<4i. Cattle—Receipts, light; market c l£ v ”* receipts, light: market, steady' sheep—: Receipts, light; market. By Times Special ? y :> June 12.—Hogs—Receipts. 500, market, 35c higher- 225 lbs S?’3s* 6 130 : W 5 lbs .-. *": 8 130-165 lbs ; $6.35. 130 lbs. down, $5.70; roughs, $3.95@ 4.95; stags, $3.20. Cattle—Receipts, 100market. steady; prime heaw steers, s6<f<7heavy shipping steers. $5.50@6; medium and plain steers. [email protected]; fatVifers s6@ 1. common to medium heifers. s4@6good to choice cows *".so@ < j —-■ 1 to good cows, [email protected]; cutters, ‘ $2.25@ 2. <5: canners. [email protected]; bu . feeders. s3@7; stockers, *[email protected]; calf receipts, 350; market, steadv; good to choice, $6 a 6.50; fancy, $7; outs, $5 down. s ht > —Receipts. 2.000; market prospects steady. Thursday’s shipments—Cattle. 29; calves, 3401 hogs, 144; sheep, 2,254. By Times Special PITTSBURGH. June 12.—Hogs—Receipts, market, aettve. 25®40c higher: 160210 lb* . [email protected] : 210-240 lbs.. $7.25& 7.50; 120-150 lbs.. *7.25.27.50: good packlSg sows. [email protected]. Cattle—Receipts. ncSi market. nominaL Calves—Receipts. 100: •parket. steadv: good and choice vealers, 708.50: common to medium. s£*6.so. sheep —Receipts, 500; market, slow Sbout steady;

Dow-Jones Summary

Tobacco Products Corporation notifies Stock Exchange of proposed cut in authorized class A to 2.242.000 shares Loo 2 *67 000 shares and in common to 3,Z90.000 shares from 5.000.000 shares. New York cables opened in London at 486 7-32: Paris. 124.21: Amsterdam. 12.08. Italy. 92.905; Berlin. 20.505. American Manufacturing Company declared a dividend of 50 cent* on common stock, out of earnings accumulated prior to Dec. 31. 1930, payable July 1. of record June 15. Previously paid $1 ouarterly. Heavy melting steel .scrap off 50 cents a ton in Mahoning Valley at $9.50 to $lO a ton. ' McQuay Norris Manufacture Company declared a regular auarterly dividend of 75 cents on common stock, payable July 1. of record June 22. Mexican Eagle Oil Company. Ltd., year ended Dec. 31. 1930. profit after depreciation was 5.175.356 in Mexican dofiats. Other income was $642,757. maxing total income of 55.818.133 from which $290,905 was appropriated for legal reserve, making net profit $5,527,208. against $6,i38,ba4 in 1929. United Verde extension mining cuts dividend basis to $1 annually from $2. Trading profit of Canadian Eagle Oil Company. Ltd., for year ended Dec. 31, 1930. was 6,925.906 in Canadian dollars. After deduction of $1,946,640 premiums written off purchase of Eagle Oil transport preference shares and $1,000,000 reserve against investment in and loaned to Arend Petroleum Company net profit was $3,983,365, against $4,436,415 in 1929. May new constructions contracts in territory east of Rocky Mountains totaled $306,089,100. against a year ago. according to F. W. Dodge Corporation. American Cyanamid Company to hold a special stockholders meeting June 2.4 to vote on cut in stated capital to $lO a share for class A and class A common. To reduce values on “good will'’ patents and processes on other Items. After oroposeef changes net book value of common stock will be about sl4 a share. International Telephone and Telegraph Company and associated companies March quarter net 43 cents a share on 6,642,508 shares, against 57 cents a share on 5.871.821 shares in like period of 1930. A dividend of 50 cents also was declared. Federal farm loan board approve* sale of Xansas City Joint Stock Land bank to A. O. Stewart and bondholders committee for $26,750,000. New bank to be operated as Phoenix Joint Stock Land bank of Kansas City. Farm board prepares to make supplemental loans of 15 per cent on value of wool handled this season by National Wool Marketing Corporation, according to Carl Williams, chairman. Refined copper stocks at end of May in North and South America, totaled 398.667 short tons, an increase of 30.746 tons, or 61,402.000 pounds over April and comparing with 354.205 tons in March, according to the American bureau of metal statistics. Hackensack Water Company and subsidiaries quarter ended March 31, net profit 5252.813 after taxes, depreciation, interest, etc., against $253,103 in first quarter of 1930. Directors of the Bankers Trust Company declared a regular semi-annual dividend of $3 a share, payable June 30. of record June 15. May sales of Loft. Inc., amounted to $1,194,633, an increase of $577,536 over May, 1930. Five months $5,459,000, an increase of $2,227,195. Daily average volume of federal reserve credit outstanding during week ended June 10 was $934,000,000. an increase of $10,000,000 over preceding week, but $60,000,000 below like 1930 week. Brokers loans decline $49,000,000 in week to $1,490,000,000. Non-brokers’ loans off $10,000,000. Reserve system ratio 91.2 per cent, against 84.2 per cent a month a£o, and 83 per cent a year ago. New * ,k ratio 91.2 per cent and 85.7 per cent, respectively. No announcement was made on rediscount rate now at 1% per cent.

WESTERN RAIL MERGER GETS TIME EXTENSION Construction Conditions Laid Down by I. C. C. Near Completion, By United Press WASHINGTON, June 12.—The Denver & Rio Grande Western rail-j road was given a two months’ extension of time today by the interstate commerce commission for acquisition of the Denver & Salt Lake railroad. The new date s§t was July 31. The original order called for acceptance of the conditions by May 31, but the carrier applied for an extension with the assertion that negotiations for construction of the Dotsero cutoff, ordered by the commisssion, while progressing satisfactorily were not yet completed. GENERAL MOTORS SALES INCREASE DURING MAY Dealers Show Slight Reduction in Month’s Business. By United Press NEW YORK, Jupe 11.—Sales of the General Motors Corporation to dealers in the United States in May were above those for April and for May, 1930, but dealer sales to consumers showed a decline in comparison with the preceding month and the corresponding month of 1930, it was announced today. 4 General Motors sales to dealers for the month were 136,778 cars, against 132,629 cars in April and 136,169 cars in May, 1930. Dealers sales to consumers in May were 122,717 cars, against 135,664 in April and 131,817 in May a year ago. Other Livestock EAST BUFFALO. June 12.—Hogs Receipts. 1,200; urgent demand by all interests; generally 40c higher; bulk desirable 130-250 lbs., $7.65; mixed end plainer kinds, $7.50®7.60: packing sows. [email protected]. Cattle —Receipts, 275; most cows active steady; cutter grades, s2@ 2.50 common and light weight culls, $3.50. Calves—Receipts. 500; vealers. unchanged; good to choice, $8.50 to mostly $9; common and medium. [email protected]. Sheep—Receipts, 500: lambs, steadv; plain ouality considered: best natives. $10: choice ewes and cutter grades quoted $10.50; throwouts, [email protected]; grassy yearlings, *[email protected]; weighty ewes $2 down. By United Press CLEVELAND. June 12.—Hogs—Receipts, 800; holdover, none: market active. 250 higher: 150-230 lbs., not particularly active, most others, strong to higher. s6@B: mostly $6 50 up; getting steer contingent of fat cows at [email protected]: increased numbers, low cutters under $3. Calves—Receipts. 200: steady; vealers. $9 down; inclined to be slow on plain or draggy kinds with weights: selling $7.50 downward. $6 on culls. Sheep—Receipts. 200: nothing choice offefed ;top principally common to medium lambs around s£@7.so and common vearlings around $3; scarcely enough to make a market. RAW SUGAR PRICES —June 11High. Low. Close January 1.38 1.37 1.38 March 1.44 May 1.50 1.49 1.50 Julv 1.21 1,20 1.21 September 1.28 1.28 December 1.37 1.36 1.37

James T. Hamill & Company Private Wire* ta All Loadlaa Market* Indiana poll* MEMBERS Chicago Stock Exchange Cbteago Board of Trade ladianapoll* Board of Trade A* nod a ted New York Curb 203 Continental Bank Bldg. Tel. Riley SOS— Riley S4N

FUTURE TRADES HOLD FIRM ON WEATHER NEWS Strong Liverpool Cables Lend Support to Bullish Trend. BY HAROLD E. RAJNVILLE United Pres* Staff Correspondent CHICAGO, June 12.—Evidences that the Canadian weather was clearing up and strong cables gave wheat a firm tone as the Board of Trade opened today, but price changes were insignificant at the start. Liverpool was steady on the Canadian weather development and indicated a much better demand for winter wheat. Most Canadian points went dry last night and only a scattering of light showers were reported. Winnipeg was firm. Corn was steady with wheat. Oats held with the major cereals. Wheat Easily Oversold At the opening wheat was unchanged to % cent higher, corn was unchanged to % cent lower and oats were % cent up. Provisions were steady. Liverpool was higher then expected, but lost some of its advance by mid-afternoon, showing unchanged to M cent higher. Wheat does not respond much to bullish news and also becomes easily oversold; leadership is missing on either side. Canada apparently has had fairly good rains except in some sections of southern Saskatchewan, where precipitation still is urgently needed. The American southwest is getting too much rain, and a dry spell will be necessary if there is not be a wet harvest. Severe Storm Reported There was a severe storm in several sections of the west last night, principally in Oklahoma and South Dakota. September and December corn sold at new lows for the year Thursday, although not much of a decline was necessary to establish new marks. Trade is running light and is largely local. The market continues to take its cue from wheat. Crop comments on oats are very favorable and the market can not disregard them. December set a new low late Thursray. The cash demand is taking care of most arrivals of old oats. Winnipeg Higher By United Press \ WINNIPEG. Manitoba, June 12. Wheat prices on the Winnipeg Grain Exchange opened fractionally higher today despite reports that a two months’ prolonged drought was ended in all parts of the western prairie provinces. Prices were; July unchanged to % higher at 60% to 60%. October % to % higher at 61% to 61%. : December % to % higher at 62% to 62 vs • General rains came to the relief of drought-stricken areas of Saskatchewan and*Alberta. At Viceroy, Saskatchewan, a drenching rain that lasted twenty hours occurred while officials of the Saskatchewan government and of twelve munici-

SIOO,OOO Fletcher American Company Three'Year First Mortgage Real Estate Certificates, Series AW Priced to Yield 5.25 per cent Bated May 15 , 1981 Due May 15, 1934 Interest Payable May 15 and November 15 at the Offices of the Fletcher American Company, Indianapolis / Coupon Certificates in Denominations of SI,OOO, SSOO and SIOO THE FLETCHER AMERICAN NATIONAL BANK of Indianapolis, Trustee f Plan of Issue —These Certificates are secured by approved first mortgages on real estate, which are deposited with The Fletcher American National Bank of Indianapolis, as Trustee, in specifically designated groups or series. Holders af these Certificates in reality own the mortgages themselves, each Certificate having its proportionate interest in each mortgage securing the particular series of which it is a part. The proceeds from the collection of interest and principal payments on the mortgages are used in paying the interest coupons detached from the Certificates and in retiring the Certificates at maturity. Security —The first mortgage loans are made under the supervision of officers of the Fletcher American Company. Mortgages are not accepted for a longer period than five years and are strictly limited to a maximum of 50% of the conservatively appraised value of the property. These limitations as to the amount and period of the loan are calculated to provide the maximum protection against unforeseen changes arising in local conditions and real estate values which might jeopardize the security. The Fletcher American Company makes first mortgage loans only for the purpose of supplying the demand for these Certificates, consequently each first mortgage loan accepted has personal attention and is subject to careful scrutiny. All applications for loans must be made on a standard form furnishing, among other important data, a statement of the purpose of the loan and a complete description of the property. The property is then personally inspected and appraised either by officers of the Fletcher American Company or by expert independent appraisers. The appraisers’ report must not only cover the character and value of the security but the moral character and financial responsibility of the applicant as* well. The Fletcher American Company has maintained a policy of conservative distribution of first mortgage loans both as to location and types of properties mortgaged. It is obviously an additional safeguard to Certificate holders if first mortgages are so diversified. Fletcher American Company Affiliated with THE FLETCHER AMERICAN NATIONAL BANK INDIANAPOLIS Rsgisterad Dialer Indiana Securities Commission Certificals No. 9

Bright Spots of Business

General Motors May sales to dealers higher than April and May. 1930. May crude rubber consumption up 13.5 per cent from April. Eucyrus-Erie Company peps up production at Erie, Pa. plant. Chicago Title & Trust Cos. declares extra dividend of $2. Edison Brothers Stores, Inc., three months ended April 30 net $80,707, vs. $52,023 in like 1930 period. Electric Power and Light Corporation .year ended March 31 net $lO.i 619.869, vs. $9,614,302 preceding year. Hudson-Essex sales week ended June 7, up thirty cars o r er 1930 week. Singer Manufacturing Company declares usual extra dividend of $2.50. National Pump & Transit Cos. recalls many workers to full time. March pay rolls and employment class 1 railroads up for first time this year. Federal Water Service Corporation year ended April 30 gross $17,380,923, vs. $16,516,192 in like 1930 period. Ohio Bell Telephone Company, four months to April 30 net $3,198,722, vs. $3,118,340 in like 1930 period. Associated Telephone Utilities Company year ended March 31, net $2,739,922, vs. $2,186,661 preceding fiscal year. WINS ESSAY EVENT Vesta Kettery Is Victor in Playlot Contest. Frist prize in the girls’ division of the city recreation department playground suggestion contest has been awarded to Vesta Kettery, 1307 North LaSalle street, it was announced today. Victoria A. Knox, 440 Bright street, third. Prizes, provided by A. C. Sallee, park superintendent, are $lO, $3 and $2. Awards wil be made at 10 Saturday in Room 303, city hall. Winners of the boys’ contest, previously announced, were Robert Kisenbarth, 846 Lincoln street; Albert Hanks Jr., 1909 Fletcher avenue, and James Payne. Many valuable ideas for operation of the city’s forty-six playgrounds, which wil open Monday, were obtained through letters submitted in the contest, Sallee said. GETS BELATED DIPLOMA Commander Harold Grow Returns to His Home After 23 Years. By United Press GREENVILLE, Mich., June 12. Commander Harold B. Grow’, former chief of the Peruvian air forces, today proudly displayed a high school diploma, arweded him Thursday night for his high school work which ended in 1908. Grow left here twenty-three years ago, two months before he was to have graduated. He entered the United States military academy and school authorities promised him his diploma if he passed his examinations at West Point. The matter was forgotten until Grow returned here after a series of adventures in South American politics.

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HOOVER TO 6ET PLEA FOR MINE WAGE PARLEY President to Be Asked to Call Operators in Pay Session. On the eve of his departure for Indianapolis, President Herbert Hoover is expected to receive a resolution adopted by the executive board of the United Mine Workers of America asking him to call a joint conference of coal operators and miners to find a solution to their present economic difficulties. Declaring that the conference should be called for the purpose of mutually discussing the problems of the industry and finding a common understanding.” it also points out that “unrestrained competition has degraded thousands of bituminous coal miners to levels approximating serf labor.” Hoover “Well Equipped” It reminds President Hoover “that your knowledge and experience as a mining engineer especially equips you to recognize the necessity of the bituminous coal industry adopting a program stabilizing labor costs as the first fundamental step to a correction of present day ills.” Pointing out that affairs have grown steadily worse since the senate committee three years ago “reported chaotic conditions in the bituminous coal industry,” the resolution declares: “Unrestrained competition has degraded thousands of bituminous coal miners to levels approximating serf labor. Capital assets and human energy, with their resultant economic sufferings to entire communities, are being bartered in the guise of coal sales by the majority of the companies operating bituminous mines. . Below Animal Standards “The fare of the workers and their dependents actually is below domestic animal standards. “Calicoes, overalls and rags constitute the clothing of the mining families, while the food consists of mu'h, beans and molasses. “This condition is most acute in the great coal-producing states of Kentucky, West Virginia, Ohio and Pennsylvania, where the intensity of the struggle has reduced wages and sales prices to levels insufficient to maintain bare human subsistence. Lose Meager Earnings “Even the meager earnings of occasional employment are being mulcted from the workers by an industrial piracy that has re-estab-lished 'pluck me’ stores as a means of bolstering and continuing vicious competition." The resolution, which is signed by John L. Lewis, international president, calls upon the President to personally sponsor the conference. As an organization, we pledge you our every assistance in making such a conference an effective agency in meeting the exigencies that demand such action. We feel that the crisis is one of such vital importance, the degradations in the coal industry so far-reaching, that the conference, when called, should not be delegated as a department matter, but should' be sponsored and aided to the fullest extent possible by your office.”