Indianapolis Times, Volume 43, Number 65, Indianapolis, Marion County, 25 July 1931 — Page 11

JWtT 2S, MSI

STOCKS SLUMP ON DECLINE IN GERMAN BONDS Forecast for Reduction in Steel Dividend Affects List Adversely.

Average Stock Prices

. Average of thirty industrials for Thursday was 142.63. up .11. Average of twentv rails was 70 47. off 38 Avfraee of twenty utilities was 57.94. off .09. Average of forty bonds was 95.60. off .06. BY ELMER C. WALZER United Press Financial Editor NEW YORK, July 24—Acute weakness in German government, municipal and industrial bonds, coupled with adverse predictions on United States Steel dividend prospects, brought a sharp decline into the stock market today. The Dow-Jones preliminary industrial average Was down 3.65 at 138.98; railroad down 1.57 at 77.90, and utility down 1.13 at 56.76. Sales totaled 1,100,000 against 800,000 shares Thursday. Selling gathered momentum as the close neared and prices were driven down to new lows on the movement in many of the leading shares. Bonds Near Record Lows German government bonds came Within fractions of the record lows, while other German issues broke 1 to 6 points on the Stock Exchange and 4 to 2i points on the Curb Exchange. Tfe/. German mark dropped 66 points or % cent with quotations nominal at 22.64 cents a mark. Cotton broke a dollar a bale and grain prices reacted to lower levels on the Chicago and other grain exchanges. In the early stock trading sentiment was dampened by publication of analyses on United States Steel Corporation pointing out that adverse earnings would force the company to reduce its dividend from the $7 annual rate at the meeting next Tuesday. A wage reduction was expected to follow a dividend slash. Asa result of these predictions,' which purported to come from sources close to the company, Steel common was singled out as a target of sellers throughout the session. Reich Issues Decline Investors who purchased the stock recently sold their holdings. The long-term holders from back in Judge Gary’s day held, for a 5 per cenj, dividend would be equivalent to 7 per cent for them in view of the 40 per cent stock dividend declared back a few years. The break in German bonds on the Stock and Curb Exchanges fol- 1 lowed a decline in the Reich issues at London earlier in the day. It was taken to indicate sentiment of American investors on this type of purchase. Americans, it was said, would not buy an offering of German long-term bonds at this time. 1 They unloaded holdings at sacri- j flees today and were not reinvest- j ing the funds, for all classes of bonds receded, even the United States government issues. All Sections Lower Steel common on the stock board j set the pace for the decline throughout the day. It broke be-j low 91 late in the day and was clown more than 3 points. American Can broke 99 against a previous close of 101 Vi. Case lost more than 3 points, Auburn more than 7, General Motors a point, Allied Chemical more than 4, Eastman more than 5, Bethlehem more than 2, and Du Pont about 2 points. Rails were down with the industrials, Atchison losing 5 points and New York Central 3. Utilities dropped 1 to more than 2 points, American Telephone the heaviest loser. Oils joined the decline after a period of steadiness. Chrysler held steady most of the day on an improved earnings report, but it gave way later and closed lower

Bank Clearings

INDIANAPOLIS STATEMENT —July 24 Clearings $2,463,000.00 Debits .. 6,048,000 00 CHICAGO STATEMENT —Julv 24 Clearings $49,600,000.00 Balances 6.000.000.00 TREASURY STATEMENT —Julv 24 Net balances for Julv 22 $321,286,301.14 Expenditures 9.930.968.34 Customs rects. month to date 23.558.283.66

New York Bank Stocks

(Bv Thomson & McKinnon) —Julv 24Bid. Ask. Amorlca 41% 44% Bankers 92% 95% Brooklyn Trust 080 390 Central Hancver 209 214 Cha*e National 66 69 Chahtam Phoenix Natl.... 61 64 Chemical 43 47 City National >B% Corn Exchange 94 98 Commercial *45 2d3 Continental 21 24 Empire 44% 4i% First National 3 540 3.740 Guaranty 430 43n Irvins 31*4 3J*4 Manhattan & Cos 65 68 Manufacturers 42% 44% New York Trust 140 145

New York Curb Market

vßv Thomson <fc McKinnon) —July 24 Close., Close, llum Cos of Am. 116%:Mead Johnson.. 78% m Cynamtd ... 7% Midwest Ut ... 17% Am Gas <fc Elec 64% Mo Kan Pipe .. 4% Am Lt & Trac. 37% Nat Fam Stores 2% Ark Gas A .... 3% Nat Avia 6% Ass Gas & El A 12% Nat Inv 5 Bra 2 Pwr & Lt. 18% Newmont Min... 29'Can Marc 2% Nia Hud Pwr .. 10Y Cent Ss Elec... 7% Per.road 6 Cities Serv .... 10%,5t Regis Paper. 12% Cord 8 Salt Creek 4% Elec Bnd Ph .. 37% Sei Indus 2% Foul of Can .. 16% Shenandoah .... 4% Ford of Eng ... 1 ,5t4 of Inri 24% Goldman Sachs 5% Trans Air Trans 5% Hudson Bay ..4 Un Gas 6% Humble Oil ... 62 Un Lt fz Pwr.. 20% Imp Oil of Can 12 On Verde 9% Ino Terr A .. 9% Ut Pwr B .... 8% InauU Ut 28% Vacuum Oil ... 43% Int Fete 13 United Fndrs... 5

Investment Trust Shares

(By Gibson <fc Bernard) PRICES ARE TO 12 NOON C. S. T. —July 24 Bid. Ask. Amer Found's Corp Com 3 S'* Am <St Gen Sec "A" 12 Am Inv Trust Shares 4% 5 Basic Industry Shares 4% 5% Corporate Trust Shares 4% 5% Diversified Trustee Shares A.. 14 First American Corp 7% 7% Fixed Trust 0)1 Shares 3% ... Fixed Trust Shares ’.A” .... 12% ... Inv Trust NY 6% 7% Leaders of Industry. Series A. 6% ... Nation-Vtlde Securities t% 6% National Industry Shares 5 5% N Am Trust Shares 4% 5% Bel Am Shares 4% 5 Shawmut Bank Inv Trust ... 6 9 Universal Trust Snares 4% 5% Super Corp of Am Trust Sh A 5% 6% Fundamental Trust Shares •A” 6 6% Fundamental Trust Shares 8 6% 6% U S Elec Light 6c Pwr A.... 28% 30%

New York Stocks ——————— ,bv Thomson A McKinnon) 1 1

j By United Press NEW YORK, July 24.—Sales on the New York Stock Exchange to- ! day totaled 1,100,000 shares; Curb stock sales totaled 240,000 shares. —July 34 Railroad*— Prev. High. Low. Close, close. Atchison 152% 157 157 182 Balt & Ohio .... 56% 54Vj 54% 57% Chesa <St Ohio.. 36 34% 34% 35% Chesa Corn 37 36% 36% 38% Chi Ort West 6% 6Vi Chi N West 29% 29% C R X & P 40% 4040 40V. Del Lit W 56% 57% Del .Sc Hudson ..123 120 121 123 Erie 20% 20 20 39% Great Northern 45% 44% 44% 46 Illinois Central 48 47 47 48 Lou it Nash 79% MK & T 14% 14 14 14% Mo Pacific 24% 23V, 23% ... N Y Centra! ... 83% 81% 81% 84 NY NH it H ... 70 63 69 73 Nor Pacflc 37 33 36 33% Norfolk St West. 173 172 172 172 Oit W 12% 11% 11% Pennsylvania ... 46V. 45% 46 46% P.eading G 9 So Pacific 80 78% 78% 80% Southern Ry... 30% 30 30 30% St Paul 5% 5% St Paul Dfd.... 8% 8% 8% 9% 8t L& S F.... 17% 17 17 17% Union Pacific ..163 159% 159% 163 Wabash 12% W Maryland 12% 13% West Pacific 8% Eaumment*— Am Car & Fdy.. 18V. 18% 18% 19 Am Locomotive 18% 18 Am Steel Fd 16% Am Air Brake 8 28% 29 23 Gen Am Tank.. 59% 58 58% 58V, i General Elec .. 40% 29% 40% 40% IN Y Airbrake 15V, . . Press Stl Car 3% I Pullman ... ... 37% j Westing!) Elec .. 65% 64 64Vi 65% Rubbers— Firestone 18 i Fisk Vi Goodrich 12% ... Goodyear 40 39'/, 39V, 39% Keliv Sorgfld 2V, 2% Lee Rubber 3% 3% U S Rubber.... 14% 14 14 14% Motors— Auburn 166 158 160% 166 Chrysler 22% 21% 22 22 Vi Gardner % Graham Paige.. 37% 36% 36% ... General Motors 37% Hudson 13Vi 12% 12% ... Hupp 7 6% 6% 6% Mack 33V, 30% 32 31% Marmon 3 Vi 3% 3% Nash 28V, 26% 27% 27% Packard 7% 7 7 7% Pierce-Arrow ... ... 13 Reo 6% ... Studebaker 18 17% 17% 18 Yellow Truck ... 8% 7% 7% 8% Motor Access— Bendix Aviation. 20V, 19% 20V, 20% Borg Warner ... 19Vi 18% 18% 19% Briggs 13% 12% 13 13% Budd Wheel ... 9 8% 8% 9% Eaton 15% 14% 14% 15% El Storage B ... 53% 53Vi 53V, 54 Hayes Body 3% ... Houda 4% 4% Motor Wheel o% 9% Sparks W 8 7% 7% Stewart Warner 11% 10% io% ‘it Timkln Roll 3i% 34% Mining— Am Metals 12 10% Am Smelt 33% 33 33Vi 34% Am Zinc 5Vi 5 5 5% Anacdnda Cop. 26 24% 25 25% Cal <te Hecla 7 Cal & AriZ 404.4, 4040 46% Cerro de Pasco 17% 16% 16% 17 Dome Mines 11% 11% 11% 11% Freeport Texas 26% 26 Great Nor Ore 18% Howe Sound 19% Int Nickel 13% 13% 13% 13% Insniration 7 Kennecott Cod.. 19% 18% 19 19% Nev Cons .... 9% 9% 9% 9% Texas Gul Sul.. 35 33% 33% 34% Oils— Amerada 18V, 18 18 \.. Am Republic ... 6 AM Refining 15% 15% 15% 15% Barnsdali 8% 8% 8% 8% Houston 8% 8% Indian Refining 2% ... Ohio Oil 10% 9% 9% 9% Mex Seaboard... 15% 14% 14% 15% Mid Conti 9% 9% 9% 9% Phillips 8 Vi 8% 8% 8% Pr Oil & Gas 10Vi 10VS' Pure Oil 8 7% 7% 7% Ricnfield 1% 1% Royal Dutch 27% 27 27 28 Shell Un 6% 6% 6Vi 6% Simms PI 6 6% Sinclair 11 10% 10% 11 Standard of Cal 37% 38'/* 36% 37% Standard of N J 38% .37% 37% 38% Standard of N Y 18% 17% 17% 18% Texas Cos 23% 22% 23 % 23V, Union Oil 16% 16% 16% 17 Steels— Am Roll Mills... 21 Vi 20% 20% 21% Bethlehem 44% 42% 42% 44% Byers AM 30% 29 29 31% Cruc Steel 43' Ludlum 12 Vi 12 Vi 12 Vi 12% Midland 17 Newton 9% 10 Repub I& S ... 14% 14 14 14 U S Steel 92% 90V, 90% 93% Vanadium 30 28V* 23 30 Youngst S & W isV4 Youngst S &T. 45% 45 45 47% Tobaccos— Am To (A new).llß% 118 118% ... Am To (B new) .123% 122% 122 V, 123% General Cigar .. 36V, 36 36 36% Llg & Myers 8.. 73% 71% 71% 73Vi Lori Hard ....... 20V, 19V, 19V, 20 Reynolds Tob ... 51 60 60% 60% Std Com Tob... 2% 2% 2% Tob Pr A ... . 2 'ioiA Tob Pr B .. . V* United Cig.... 5 % '4% "5 5 Utilities— Abitlbl 4 % Adams Exp 15 14 14% 15 Am For Pwr... 28% 27% 27% 28% Am Pwr &Li . 36 35V, 35Vi ... A TANARUS& T 176 174% 175 176% Col Gas A; E 1... 30% 25% 29% 30% Com & Sou 8% 7% 8 csi El Pwr & Li... 38% 36% 36% 33% Gen Gas A 4% 47“ Inti T & T.... 30% 29Vi 29i 30=v2 Natl Pwr & Li.. ?% 24 24 25 No Amer C 0... 67% 67% 68% Pac Gas it SI.. 47 46% 46% 47% Pub Ser N J.. 80 87 78 80 So Cal Edison.. 41% 43% 43% 44 Std G it E 1... 63 Vi 61% 62 63 United Corp 22% 21% 23 22% Tit Pwr * L A 22% 22% 22% 22% West Union .. .116*% 115 115 116 Shinning— Am Inti Corp... 14% 14 14 14% Unled Fruit 53% 58 58 58% Foods— Am Sug 56% 58 56 56% Armour A 2% Cal Pkg 23% 22% 22% ... Can Drv 39% 39 39 39 Childs Cos 21 ... Coca Cola ... , 142% 143% Cont Baking A.. 13% 13% 1354 ... Corn Prod 67% 66% 65% 66% Cudahy Pkg 40% Cuban Am Sug 5% 5% Gen Foods 49% 43% 48% 49% Grand Union 15% Hershey 96 95 95 96 Kroger 30 28% 29% 30% Nat Biscuit 60% 58% 58% 60%

Produce Markets

Eggs (country run) —Loss off delivered in Indianapolis. 12c: henerv oualitv. No, 1. 14c: No 2. 9c. Poultry (buying prices)—Hens weighing $ lbs. or over. 16c: under 5 lbs.. 15c Leghorn hens. 12c: 1930 broilers, full feathered 2 lbs. and uo. 21c: under 2 lbs.. 19c: bareback. 12e: Leghorn broilers. 18c: ducks. 9c: old cocks. B@9c: ducks, full feathered, fat whites. 9c: geese. 6c. These nrices are for No. 1 top oualitv. cuoted bv Kinean & Cos. Butter (whwole-sale)— No. 1. 27028 c: No. 2. 25026 c. Butterfat—2sc. Cheese (wholesale selling price per pound' —American loaf. 22c: pimento loaf. 24c: Wisconsin firsts. 18c; Longhorns. 18c: New York limbereer. 30c. By United Press NEW YORK. July 24.—Potatoes—Market. quiet. Long Island. $2 2502 50: new Jersey. 52.15 baskets; southern. [email protected] barrel. Sweet potatoes—Market, quiet: Jersev baskets. 51.75; southern baskets. $1.5004. Flour—Market dull and unchanged; spring patents. $4.2504.55. Pork —Market, dull; mess. $22 25. Lard—Market. easv: middlewest spot. .0800.081 c. Tallow—Market, steady: special to extra. 3%@3%c, Dressed poultry Market steadv; turkevs 23050 c, chickens. 220 40c: broilers. 23038 c; fowls. 12025 c: Long Island ducks. 13018 c Poultry—Market, sfeadv to firm: geese 10012 c; ducks 120 21c: fowls. 18024 c; turkevs. 120 25c. roosters. 15 016 c: broilers. 20 0 33c. Cheese —Market, steadv: state whole milk fancy to special. 13Vb@23c: voung Americas. 14% Gl9 %c. By United Press CINCINNATI. 0.. Julv 24.—Butter, steadv: creamery In tub lots, according to score. 22@23c: eomon score discounted. 2 73c; packing stock No. 1. 18c: No. 2. 15c: No. 3.8 c: butterfai, 21@23e. Eggs— Steadv: cases, included: extra firsts. 21%c: firsts. 16c; seconds. 14%c: neaibv ungraded. 18c Live poultrv—Thin and -'iarse 'took sell onlv at heavv discount: lbs and over. 20c: 4 lbs. and CM, 19c: 3 lbs and over. 14c: Leghorn. 3 ibs. and over. 13c: roosters. 10c: broilers, colored. 1 lbs. and over. 23c: 1% lbs. and over. 25c: 2 lbs. and over. 28c: frvers. 3 lbs and over. 20c: nartlv feathere. 15020 c: Leghorn broilers. 1 lb. and over. 23c: 1% Ibs. and over. 23c: 2 lbs. and ever. 23c: black springers. 20c. By United Press CHICAGO. July 24.—Eggs—Market, easy: receipts. 10.642 cases: extra firsts. 19® 20c; firsts. 18-r current receipts 13516%c: seconds. 12@13%c. Butter—Market, easy; receipts. 10 826 tubs; extras. 23%c; extra firsts. 22%i523c: firsts. 21@21%c: seconds. 19020 c; standards. 23%c. Poultrv—Market. weak: receipts. 2 cars; fowls 19c: snringers, 24 026 c; Leghorns. 14c: ducks. 13 016 c: eeese. 14c: turkeys. 15@18e; roosters. 12c; broilers (2 lbs.). 21iH4c: broilers (under 2 lbs.). 21@22c: Leghorn broilers. 18019 c. Cheese—Twins. 130 13%c; Young Americas. 13%014c. Potatoes —On track, 295: arrivals. 75; shipments. 566: market slightly stronger: east shore Virginia cobblers, sacked $1 45 01.50: bbl.. $2.3502 50: Missouri and Kansas sacked Cobblers. sl.lG©l 20. By United Press CLEVELAND. Julv 24.—Butter—(Cents per lb.), extras 27%c; standards. 27%c; market, easy. Eggs —(Cents per doc), extra* 22>ic; firsts, 18@18%c: ordlnar.es first 15%c: market, easv. Poultrv (Cents per lb.), heaw fowls. 20@21c: medium. 20c; Leghorn, 13016 c. heavv broilers. 250 29c; liehC broilers 17@21c: ducks. 12 .715 c: old cocks 12c; geese. 10®l5c; market, steady. Potatoes —Virginia cloth too stave barrel spring cobblers best. 52.40G2.50: Louisiana bushel trade United States very few sues $1.20 down.

PiUsbury 28% 28Vj Purity Bak 28% 29% Safeway St 60% 58% 52% 60 Std Brands .... 18 17% 17% 18 Drags— Coty Inc 7% 7% 7% 7% Lambert Cos .... 67 66 66 67% Lehn & Fink ... 26% 26% 28% 26Va Industrials— Am Radiator ... 13% 12% 12% 13% Bush Term .... 20% 20 20 Certalntced 6 5% 5% 5% Gen Asphalt .... 21% 20% 20% 21% Otis Elew 43V, 42 42% 42V, Indus Chems— Allied Chem ....117 112 114 117 Com 80 iv 16% 16V, 16% 16 J i Union Carb .... 60% 49% 49V, 49V, U S led Alco ... 29% 28% 28V 2 29% Retail Stores— Assoc Dry Gds.. 18% 18% 18Vi 19 Kresge 6 S 26% 26V, 26V, 26% May D Store ... 33% 33% 33% 33V, Mont Ward .... 1974 19 1 9 20 Penny J C 33% 33 33 33% Schufte Ret St 7% Sears Roe 5574 54% 55 56 Woolworth 67% 66 V, 66% 67% Amusements— Col Graph 874 87 i 8% 9 Crosley Radio 5% 5% Eastman Kod ..143'/, 139 139% 145 Fox Film A 16V, 15% 15% 76Vi Grigsby Gru 3% 3% Loews Inc 44% 43% 43% 45V, Param Fam .... 22% 22% 22% 23 Radio Corp 17% 17V, 17V, 18 R-K-O 14% 13V, 1374 14% Warner Bros ... 7 6% 674 7V4 City Ice & Fu 32 % Congoleum 12% 12 12 12% Am Can 101 98% 98% 101% Cont Can 50% 43 49 50V, Curtiss Wr 3V 3% 3% 3% Gillette SR 22 7 4 20 % 21% 31V, Real Silk 6% 6 6 674 Un Arcft 28 26 26% 38 Int Harv 43 41% 41% 43%

Chicago Stocks

' (By James T. Hamill & Cos.) ” r TOTAL SALES. 56.000 SHARES —July 24 _ .... High. Low. Close. Bendix Aviation 20% 1974 20 74 Borg Warner 19V* 18% 187% Brown Fence & Wire A 13 Butler Bros 5 474 5 Cent Pub Serv Class A 11% 11 11 Cent <55 So West 17 Cities Service 10% 10% 10% Commonwealth Edison 199% 1997, 199% Construct Materials .... 6% Continental Chicago ... 5 474 5 Conti Chicago pfd 34% Cord Corp 8 774 774 Corp Securities 15 141/2 143/. Great Lakes Aircraft .. 3% 3% 3% Grigsby Grunow 31/, 3 31/, Houdaflle Hershey “A". 15% Houdaille Hershey "B”. 47, 4% 434 Insull Util Invest 29% 287i 28% Insull Ut In pfd 2d Ser 71 70 70V, Libby McNeil 10% . Middle West Utilities.. 18% 17% 'i7% Mo-Kansas Pipe Line.. 4V, 472 4% National Family Stores 3% 33 National-Standard 27% North Am Light & Pwr 67% 66 '66 Perfect Circle . 35Va ... Public Service N P.... 207 20074 207 Raytheon V T C 574 5 5 Southern Union Gas ... 7% 7Vi 7% |w}ft& CO 26 * 25% 26 4 Swift & Cos 34 33 Vi 34 USR Gypsum com 35% . '** Utility & Ind pfd .... 1774 Walgreen Cos com 17V, 16% 16V4 Zenith Radio 2% /4

In the Stock Market

& McKinnon) NEw YORK, July 24.—Strong intimation that the United States Steel dividend will be cut brought renewed pressure In the market. The published steel story, perhaps inspired, shattered hopes that the management of the Steel Corporation would maintain the current dividend and continue prevailing wage scales. Considering the fact that Industry generally looks to the Steel Corporation for industrial leadership, the prospect of a policy as above indicated had a depressing influence. On the whole, the market received the news rather complacently. Early pressure on Steel had an unsetting effect on the general market, but it was not enduring. Measured by the volume, the liquidation was not important. However superficial the market may be, we can not avoid the conclusion that liquidation of stocks is virtually completed. The comparative indifference reflected in the dullness of the market, in the face of recent unfavorable foreign developments and domestic industrial news, suggests the Interpretation that such facts coming now to the foreground have beer, anticipated. Moreover, they appear to have been discounted by the market. That being true, the market apparently is waiting for a clew to the future commercial trend. The present obscurity, we believe, will give way to greater visibility as we approach the fall season.

In the Cotton Markets

(By Thomson & McKinnon) NEW YORK, July 24.—Th* cotton market opened 10 points lower this morning on poor cables. A decline of 12 additional points followed on commission houses and pressure from Liverpool, which seemed to be selling in all the cotton markets. Local traders followed the trend, but after 11 a. m. contracts were not so easy to secure and the market rallied to 9.50 for December, which was the point at which the market had opened. There was not much doing in uptown dry goods circles. Showers In the eastern belt and heavy rains in the Mississippi valley caused apprehension especially as further showers are predicted for Saturday. Lack of public participation and professional operations on the short side put the market back to 9.40 for Demember in the second hour of the afternoon. There was a sharp advance in the wool top market, which is maintained by the Cotton Exchange. September was 75.50 bid at one time, the highest price on record since the market was opened. NEW ORLEANS —July 24 January 9.59 9.45 9.45 March 9.81 9.62 9.62 Mav 9.94 9.80 9 80 July 8.90 8.80 8.80 October 9 27 9.09 9.11 December g. 50 p. 32 9.34 NEW YORK High. Low. Close. January 9.63 9.41 9 41 March 9.79 9.61 9.62 May 9.96 9.77 977 Ju.v 9.07 8.89 8 89 October 9.28 9.08 9.08 December 9.50 9.30 9.30 CHICAGO High. Low. Close. January 9 69 9 52 9 52 March 9.91 9.73 9.73 Ma.v 10.07 9.30 9.90 Or Acer 9.37 9.20 8.21 December 8.60 9.41 9.42 Exchange Seat to Bring 5235,000 By United Press NEW YORK, July 24.—Arrangements have been made for the sale of a New York Stock Exchange seat at $235,000, unchanged from the previous sale, it was reported by the exchange today. NEW YORK COFFEE RANGE —July 24 May 6.13 6.05 6.13 Julv .. ~ 6.24 623 6.23 September 5.54 5 45 5,54 December 5.83 5.72 5.81 RAW SUGAR PRICES —July 24 January A.. 1.53 1.50 1.51 March 1.58 1.55 1.55 May 1.64 1.60 1.61 July 1.68 1.66 1.66 September 1.47 1.43 1.46 December 1.53 1.56 1.50

THE INDIANAPOLIS TIMES

PORKER PRICES GAIN 25 CENTS AT CITYYARDS Cattle Little Changed in Quiet Trade; Sheep Up 50 Cents. July. Bulk. Early Top. Receipts. 17. $6.75® 8.13 $8.15 4.500 18. 6.50© 7.85 7.85 1,500 20. 6.40© 7.85 7.85 3.500 21. 6.40® 7.75 7.75 4.500 22. 6.40® 7.75 7.75 4.000 33. 6.40® 7.90 8.00 8.500 24. 6.55® 8.00 8.00 6.000 Strong trend in evidence in porker trades the last few days carried prices up 25 cents today at the city yards. The range was steady to a quarter higher than Thursday’s even trade. The bulk, 140 to 300 pounds, sold for $6.55 to SB. Receipts were estimated at 6,000; '-oldovers were 206. In the cattle market steer trade was negligible, she stock little changed with the quality plain. Receipts were 450. Vealers sold $1 higher at $9 down. Calf receipts numbered 650. Sheep were irregularly steady to 50 cents higher. Better grade lambs made the market at $7.50 to $8.50; top held at $8.75. Receipts were 2,500. Chicago hog receipts were 11,000, Including 3,000 direct. Holdovers, 6,000. Market active on weights below 230 pounds, and around 25 cents higher than- Thursday’s average. Good to choice hogs weighing 170 to 210 pounds sold at $7.90 to SB, with early top holding at SB. Heavyweights from 220 to 230 pounds were sellig at $7.85. Cattle receipts were 2,000. Calves 500, and strong. Sheep receipts 7,000; market 25 cents higher. HOGS Receipts. 6,000; market, higher. —Light Lights—-(l4o-160) Good and choice....s 7.40© 7.65 —Light Weights—-(l6o-180) Good and choice... 8.00 (180-200) Good and choice... 8.00 —Medium Weights—-(2oo-220) Good aTid choice... 7.90® 7.95 (220-250) Medium and good.. 7.40© 7.80 —Heavy Weights—-(2so-290) Good and choice... 6.70® 7.25 (290-350) Medium and g00d... 6.25® 6.55 —Packing Sows—-(27s-500) Medium and g00d... 4.25® 5.50 (100-130) Slaughter Digs .... 7.25 CATTLE (Slaughter Class) Receipts. 600; market, steady. —Steers— Good and choice $ 7.50® 8.75 Common and medium 5.00@ 7.50 (1,100-1,500) Good and choice 7.25® 8.50 Medium 5.50® 7.25 —Heifers—-(soo-850) Good and choice 7.50® 8.75 Common and medium 4.50® 7.50 —Cows— Good and choice 4.25® 5.50 Medium 3.25® 4.25 Cull and medium 1.75® 3.25 „ , —Bulls (yearlings excluded)— Good and choice beefs 4,00® 4.75 Cutter, common and medium.. 2.75® 4.00 CALVES AND VEALERS Receipts. 650: market, higher. —Vealers— Good and choice $ 8.50® 9.00 Medium . 6.50® 8.50 Cull and common 4.00@ 6.50 —Calves— Good and medium 4.50® 6.50 Common and medium 3.00® 4.50 STOCKERS AND FEEDER STEERS Good and choice 5.00® 7.25 Common and medium 3.75® 5.00 -(800-1,500) Good and choice 5.00® 7.25 Common and medium 3.75® 5.00 SHEEP AND LAMBS Receipts. 2.500: market, higher. Good and ehoice $ 7.50® 8.75 Common and medium 4.50® 7.50 Ewes, medium and choice 1.75® 3.25 Cull and common I.oo© 1.75 Other Livestock By United Press CHICAGO. July 24.—Hogs—Receipts. 11,000. including 2,500 direct; active on weights beiow 240-lb. around 25c higher; others slow steady to 15c higher; bulk 170-220_ lbs.. $7.75©8; top. $8: 230-300 lbs.. $607.75: Digs. 56.7507.50; packing cows, 54.3505.75; light lights. 140-160 lbs., good and choice. [email protected]; lightweights, 160200 lbs. good and choice, $7.65®8: medium weights. 200-250 lbs., good and choice. 57.15@8; heavyweights. 250-350 lbs. good and choice, 55.40®7.50; packing sows, 275500 lbs., medium and good, $4.2505.85slaughter pigs. 100-130 lbs., good and choice. $8.7507.50. Cattle—Receipts. 2,000; calves. 500: grain fed steers and yearlings fully steady: no choice weighty steers here; heifer yearlings topped at $8.60several loads heifers. $8®8.40: offerings at outside price scaling 952 lbs; she stock unevenly steady to 25c lower; grassy kinds showing decline; slaughter cattle and vealers: Bteers 600-900 lbs., good and choice. [email protected]; 900-1.100 lbs. good and choice. $7.7509.10: 1.100-1.300 lbs., good and choice. $7.25®8.75: 1.300-1.500 lbs good and choice. $7®8.50: 600-1,300 lbs. medium, $5.35®7.50; heifers! 550-850 lbs. good and choice. 47.2509common and medium. $4.25® 7.25; cows, good and choice, $4.25®6.25; common and medium. $3.2504.25; low cutter and cutcows. [email protected]; bulls, yearlings excluded good and choice, beef. $4*200 acuter to medium. [email protected]; vealers. m fed. good and ehoice. $7.2508.50; medium $6®7.25; cull and common. 54.50@6Stocker and feeder cattle: Staers 500-1.050 lbs., good and choice. $5.75@7; common 7 l n<>n? ie f C if Un ?; S£[email protected]. Sheep—Receipts, 7.000, fat lambs falrlv active; strong to 25c higher; best natives. $8: bulk rangers *7.65, with better kinds held above $7.75; throwout natives largely $5.50: s L aUKht€ J shee b aR d lambs: Lambs. 90 lbs. down, s7©B; medium, $5.25 d K Wei2ht i; c °mmon. $4®5.25; ewes. 90-150 lbs., medium to choice $1 75<®3 60 all weights, cull and common. sl®2;~feed--50(275 eood and choice. So

By United Press FT. WAYNE. July 24.—Hogs. 100-140 lbs.. $7.25: 140-160 lbs.. $7.50; 160-180 lbs $7.80; 180-200 lbs.. $7.90: 200-210 bl" $7.80: 210-220 lbs.. $7.70: 220-230 Ibs $7 55': ?n' 40 i,c 240 ‘ 25C> lbs " *7.25: 250*6O ,L bs ” _ 260-270 lbs.. $6.90: 27080 lbs.. s6.ia: 280-290 lbs.. $6.60: 290-300 lbs.. $6.45: 300-325 lbs.. s*: roughs $V stags. $3: calves. $8.50: lambs. $7.50. * By United Press EAST ST LOUIS July 24—Eoes-Re-ceipts. 1.000: market, mostly 10015 c hjeher: top. #8: few small lots. $8.10: most 140-250 lbs.. $7.5008: ICO-140 lbs.. $7 35 @7.85: sows. 54.5005.75. Cattle —Receipts. 1.000: calves, receints. 800: market, vealers 50c lower: other classes steadv with scarcely enough cn sale to make a market: few mixed vearlincs and heifers. $8 50 down: cows. S3 7505: low cutters. [email protected] mostly, ton medium bulls, auoiable upward to $4.25: good and choice vealers. SB. Sheep—Receipts. 1.000: market, steadv: bulk lambs to packers. s6.l>@7; ton to city butchers, $7.50: throwoutsc. 53.50: fat ewes. $2.50 down. By United Press LAFAYETTE. Julv 24.—Hoes—Market, steadv to 25c higher: 160-200 ibs.. $7.75: 200-210 lbs.. *7.70: 210-220 lbs.. 57.65: 220230 lbs.. $7.55: 230-240 lbs.. $7.35: 240-250 lbs.. $7.20- 250-260 lbs.. $7: 260-270 lbs.. $6.75: 270-280 lbs.. $6.60: 280-290 lbs.. $6.45: 290-300 lbs.. $6 30: 3W-325 lbs.. $6: 140-160 lbs.. $7.25: 120-140 lbs.. $7: 100-120 lbs.. $6.75: roughs. $4.75 down: ton calves. $7.50: ten iambs. $7. By United Press CINCINNATI, 0., July 24.—Hogs—Receipts. 2.000; held over, none, fairly active, mostly steady; soots 10c higher; some butchers above 230 lbs. up more; better grade, 170-225 lbs., $808.15; a few loads of best light weights. $8.25; some 230-350 lbs.. $7.50 0 7.85 ; 270-300 lbs., $6.7507.25; light lights, steady to 25c higher; 120-160 lbs.. $7.50 to mostly $7.75; sows scarce, steadv: few $4.50 0 4.75. Cattle —Receipts, 300; calves, receipts. 350; steers and heifers. fairly active, steady to strong; snots 25c higher on steers, common to medium grassers. $507; sprinkling of better finished kind. $7 2508. other classes steady, a few beef cows. $3.7504.75: low cutters and cutters. $1.7503.50; bulls. $4.75 down; vealers, steady: good and choice. $708; lower grades. $7 down. Sheep—Receipts, 4.700; better grade ewe and wether lambs, fuilv steady Yo strong; spots 25b higher at S9O 9.50. a few $10; lower grades and sheep steady; throwout lambs. $5.50 0 6.50; skips, downward to $4. mostly $8 and upward: bucks, $6.5008 or better; fat ewes, $2 02.50.

By Times Special . LOUISVILLE. July 24 —Hogs—Receipts, 500: market, steadv: 175-250 lbs.. $7 65; 250 lbs. up. $7.10: 130-175 lbs.. $7: 130 lbs. down $6.35: packing sows. $4.6005.60, and stags from $3 85 down. Cattle—Receipts. 200; market, steady; medium and good steers. *645 7: bulk lower grades. $4 0 5.50: medium and good heifers. *5.5007: lower grades. $3.5005: best slaughter cows. $3.50 04.20: common cows. $2.5003: low cutters and cutter cows. $1.2502.50: best beef bulls. $3 50 0 4.25; lower grades. $3.50 down. Calves —Receipt. 300; market steady: best vealers. $7: medium. $4.50@50: culls, *4 down. Sheep and iambs—Receipt* 1.500: market steady: bul kbetter grade lambs. S3 08.25; bulk lambs mostly $7; culls. $4 down; fat ewes. $2.50 down: aged bucks. $101.50. Thursday’s shipments: Cattle. 101; calves. 128; hogs, 132; sheep, 853.

Dow-J ones Summary

New York cables opened In London at 4.84%. against 4.84%: Paris, checks. 123 .5. 9msterdam. 12.035: Italy. 92.65; Berlin. 20.50. Caterpillar Tractor In six months to June 30 earned 77 cents a share, against $2.99 a share in first half of 1930. June ouarter earnings 22 cents, against 55 cents In previous Quarter and $1.20 in June, 1930 Quarter. The company also declared a regular Quarterly dividend of 75 cents. payable Aug. 31. of record Aug. 15. Paraffine Comoaniw. Inc.. Tear ended Jane 30. net Income $1,746,108 after depreciation. Interest and federal taxes equal to $3.60 a share on 485.030 shares, against $2,556,041. or $5.27 a share on 485.111 shares in preceding year. E. I. Dupont De Nemours & Cos. second ouarter consolidated net incomesl.22 common share against *lOl in first auar ter and $1.33 In like 1930 period Slx months $2.23. against $2.84 in first hall 01 1930. United States Industrial AJcohol six months’ net loss $527 237 after deprecl tlon. against net profit of sl-47 a share In first half of 1930. Goldman Sachs Trading Corporatlon net asset value on June 30 eaual to $12.94 a share, against $12.40 on Dec. 31. 1930. ana $30.16 a year ago. American Republics Corporatlon second Quarter net loss $962,264 a.ter charges, against net loss $579,219 in first Quarter, and net profit of 31 cents a common share in like 1930 period. Sixmonths loss SI 541.483. against net profit.of 45 cents a share on 7 Preferred stock in first half of 1930. Four subsidiaries of North American Light and Power Company reduced gas rates 14 per cent and electric rates 15 per cent in Kansas. General Printing Ink Corporation six months ended June 30 net profit 362,462 after charges and taxes, against $413,161 in first half of 1930. A M. Byers Company June quarter net profit 6 cents a share on 7 per cent preferred stock, against 87 cents a share tn preceding quarter and 51 cents a common share in like 1930 period. Nine months SI.BB a preferred snare against $2.22 a common share in like period oi previous fiscal year. Willys-Overland six months’ net profit $2.40 a preferred share, against SI.OB a preferred share a year ago. In June Quarter the company earned $1.48 a preferred share, against 83 cents a preferred share in previous quarter. Chrysler Corporation In June quarter earned 73 cents a share, against net loss of $979,927 in previous quarter, and earnings of 73 cents In June, 1930, quarter. Six months -earnings 51 cents, against 77 cents in first half of 1930. The corporation also declared a regular quarterly dividend of 25 cents. Purity Bakeries in twenty-eight weeks to July 11. net profit of $1.48 a common share, against $3 in like period of 1930. Twelve weeks to July 11 earned 70 cents a share against $1.45 a share year ago. And declared a regular quarterly dividend of 75 cents on common stock. Fairbanks Company and subsidiaries in quarter ended June 30 net loss $65,814 after taxes, interest, depreciation, etc., against net profit of $9,884 in June quarter. 1930. Six months’ net loss $131,023. against net profit of $50,284 in first half of 1930.

Indianapolis Stocks

—July 24Bid. Ask. American Cent Life Ins C0..1.000 Beit RRis 8 Yds Cos com.. 29% 35 Belt RR & Yds Cos pfd 65... 49% 55 Bobbs-Merrill Cos 20 26% Central Ind Pwr Cos pfd 75... 73 77 Circle Theater Cos com 7s 100% 103% Citizens Gas Cos com 10s 23 26 Citizens Gas Cos pfd 5s 98 101 Commonwealth Loan Cos pfd 7s 97 101 Commonwealth Loan Cos 85... 100% 101 Hook Drug com 10 Indiana Hotel Cos elaypool... .105 Ind Hotel Cos pfd 6s 100 Indpls Gas com 6s 56% 60 Indpls Pw & Lt Cos pfd 6%s 104% ... Indpls Pub Yel Ln Assn cm 8s 55 Indpls Wa Cos pfd 5s 100% ... Pub Servos Ind 7s 97% 100 Pub Servos Ind 6s 82 87 Metro Loan Cos 8s 100% ... No Ind Pub Serv Cos pfd 65.. 100 103 North Ind Pub Ser Cos pfd 5%s 94 96% No Indiana Pub Cos 7s 100 Vs ... Progress 18 % ... E Rauh & Sons Fert Cos pld 6s 47 Shareholders Invest Cos 10% ... Ter Haute Tr & Li Cos pfd 6s 89 Union Title Cos com 3s 10 Van Camp Prod Cos Ist pfd 93 Van Camp Prod Cos 2d pfd Bs. .. 93 Backstay Welt Cos com 13 16 Ind Pipe Line Cos 11% 13 Link Belt com 21 23 Lynch Glass Machine Cos com 17 18 Noblitt Sparks Industrials Inc 42% 44% Perfect Circle Cos com 32 34 Real Silk Hosiery Mills Inc.. 7% 9% Real Silk Hosiery Mills pfd... 25 30 Standard Oil Cos (Indiana).... 24% ... Ross Gear 18% 20 Natl Title 5% e% J D Adams Manufacturing Cos 18 20 *Ex dividend. BONDS Bid. Ask. Belt R R & Stk Yds Cos 4s .... 92 Cent Ind Gas Cos 5s ,99% ... Cent Ind Power Cos 6s 100 Citizens Gas Cos 5s 101 Citizens Street Railroads 55.. 21 Home T & T of Ft. Wavne 65.152% ... Ind Railway & Light Cos 55.. 93 96 Indpls Pow & Li Cos 5s 103% 104% Indpls Gas Cos 5s 102% ... Indpls Street Rvs 4s 10 Indpls Trac Terminal Cos 55.. 43% ... Indpls Union Ry 5s 102 Indpls Water Cos 5%s ’54 104 105 Indpls Wat Cos Ist lien ref 55.101 Indpls Water Cos 4%s 100 101% Indpls Water Wks Sec Cos 55.. 90 Interstate Pub Ser Cos 4%5.. 99% ... Interstate Pub Ser Co(B> 6%5,102 Interstate 5s 99 ... No Ind Pub Serv Cos 102 ... Terre H T & L 5s 93

Net Changes

By United Press NEW YORK. July 24. Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: , _ uo. Off. Alaska Juneau 15 % Ya American Can 98% ... 2Va American <s; Foreign Power 2764 ... 1% American Telephone 175 ... 1% Atchison 157 ... 5 Auburn * 16014 ... 5% Brers 29 ... 2% Case 68% ... 3 Consolidated Gas .; 9114 ... 1% Electric Power 36% ... IV Fox Film A 15V* ... IV General Electric 40V ... % General Motors 36% ... % Gillette 21% V ... International Nickel 13V ... % International Tel 29% ... 1% Loew’s Inc 43% ... IV Lorillard 19% ... % Montgomery Ward 19 ... 1 N Y Central 81% ... 2% North American 67% ... 1% Pennsylvania R ft 46 ... V 2 PubUc Service 78. ... 2 Radio '. 17% ... % Sears Roebuck 55 ... 1 Standard Oil N J 37% ... 1% Standard Oil N Y 17% ... % Uni'ed Aircraft 26% ... 1% United Coro * 22 ... % U S Steel 00% ... 3% Vanadium 29 ... l Westinehouse Elec 64% ... 74 Worthington Pump 46 V ... 2va Other Livestock By United Press PITTSBURGH. July 23.—Hogs—Receipts. 600; market active. 15030 cents hiener: 150-223 lbs.. $8.35*18.60: 230-260 lbs .57 <5 523.25: 2SO-310 lbs.. $7.1007.60; 100-140 lbs.. $77308.25: packing sows strong to 25c higher; bulk $505.56 Cattle—Receipts. 125: market, mostly steady; common to medium steers. $5.2506.75: better lots up to 57.75; grass cows. 5304: cutter to common bulls $3 2563.85. Calves—Receipts. 200; market, verv slow: undertone weak. Sheen—Receipts. 1.250: early sales . about steadv: asking higher for choice lambs: desirable lightweights. 57.5008.50. By United Press CLEVELAND. July 24.—Hogs—Receipts, 1,000; holdover, 46: steady to 25c higher; advance on lighter weights; 160-230 lbs., $8.25: top, $8.35; nigs. $8: few 240-250-lb. weights. 57.75; 260-300- lb. sorts, $7.15 down, but heavier weights dull; rough sows, steady at $5. Cattle—Receipts. 125: more Interest In over-supplied plainer grades, but little change In price level; even lower grades only mildly under Monday. bulk steer sales. $6.2508.75; part load medium. $7.75; numerous loads still unsold; cows and bulls steady; calves, receipts. 250; strong to mostly 50c higher; spot3 $1 up or medium sorting considered; desirable vealers. $9.504710 in liberal numbers; medium, $9 downward; very little under $7.50. By United Press EAST BUFFALO. N. Y., July 24.—Hogs —On sale. 900; market, active; 15025 c higher; bulk desirable 120-250 lbs.. $8 50; p%iner kinds. $8 25; 225 lbs., $8.25; 260300 lbs., $7417.40. Cattle—Receipts. 825; cows and grassy steers predominating; generally 25®50c lower; bulls, steady; grassy steers and heifers. $5.50416.50; cutter cows, *1 75*23.35; fleshy kinds, $404.25; medium bulls, S4O 4.50; calves, receipts, 600; vealers. 30c higher; good to choice, $909.50: common and medium. $6.50@8. Sheep—Receipts, 1.150; lambs active; mostly 25c higher; good to choice, $9.250 9.50; medium to mixed, $809; throwouts around $7. By United Press TOLEDO, July 24—Hogs—Receipt*, light; market 25c higher; demand unsupDhed: heavies, $6.5087; mediums. $7.25® 7.75: Yorkers. $7.5007.73; pigs. $7.2507.75. Cattle—Receipts. 100: market slow. Calves—Receipts, light; market, strong. Bheen—Bee ip u, light; market, steady.

SELLING SENDS GRAIN FUTURES . DOWNFRAGTION Session Is One of Dullest in Many Months; Close Is Lower. BY HAROLD E. RAINVTLLE United Press Staff Correspondent CHICAGO, July 24.—Slightly increased hedging pressure and a lack O S* speculative activity weakened wheat prices on the Board of Trade today and the finish was a major fraction lower. Trade was light and there was no material pressure. Corn continued highly irregular with July acting tight and advancing while September sold off and December held around the previous close. It was one of the dullest sessions witnessed in many months. Oats receded under a scattering of liquidating sales. Cash Prices Off At the close wheat was to % cent lower, corn was unchanged to 1% cent lower and oats were % to % cent down. Provisions were steady to easy. Liverpool, reporting continental demand lacking, closed H to % cent lower. A story from New York to the effect that a group of easterners were negotiating with the grain stabilization corporation for its entire holdings was denied by President Milnor. Cash prices were unchanged to % cent lower. Receipts were 476 cars. Corn was about steady at the start, but sold off a fraction as a result of the low temperatures over the main producing areas. Reports from the vicinity of Waterloo, la., indicated firing and no rain for more than two weeks. News Is Bullish Reports from the southern part of South Dakota have been running unfavorable for several days. Prices were % cent lower on September, but July was % cent higher at midsession. Receipts were somewhat larger today. Cash prices were % cent to 1 cent lower. Receipts were 554 cars. Oats eased with the other grains and on scattered liquidation, but receipts were smaller than earlier in the week and this checked selling. The market as a whole was without feature. The market was lb cent to % cent early. Cash prices were unchanged to % cent lower. Receipts were 16 cars. Chicago Grain Range WHEAT- “ JUly 24 ~ prey. t , Open. Hish. Low. Close, close. July... .53% .58% .52% .53 .53% Sept... .63% .53% .52% .52% .53% Dec 57% .57% .57 .57 .57% CORN— July.. .58 .58% .57% .58 .58 Sept... .51% ,51% .50% .50% .51% Dec 44% .45% .44% .44% .44% Ju?:^ T .24% .24% .24% .24% .24% Sept... .26% .26% .25% .25% .26% Dec 38% .28% .28% .28% .28% RYE—s July 34% .35% Sept... .36% .36% .36 .36 .36% Dec..,. .40% .40% .39% .39% .40% LARD— Julv.. 7.67 7.67 7.65 7.65 7.70 Sept.. 7.65 7.67 7.65 7.67 7.70 Oct... 7.62 7.85 7.62 7.65 7.70 Dec... 7.00 7.00 6.95 7.00 7.13 BELLIES— Julv.. 7.50 7.50 7.50 7.50 7.50 sept.. 7.57 7.57 T 57 7.57 7.60 By Times Special CHICAGO. Julv 24.—Carlots: Wheat. 405: corn. 387: oats. 26: rye. 0. and barley. 3. By Times Special CHICAGO. July 24.—Primary receipts: Wheat 3,364,000. against 4,057,000; corn 8)5 000, against 729.000: oats 243,000. against 700.000. Shipments; Wheat—--2.520.000. against 1,671,000; corn 285,000. against 255.000; oats 78.000, against 209,000. By United Press CHICAGO, July 34.—Cash grain close: Wheat—No. 2 red. 52% @s3c; No. 2 hard, 53c: No. 3 hard. 52c. Corn—No. 2 mixed, 57%c; No. 1 yellow, 57%®58c; No. 2 yellow, 57%®58c: No. 3 yellow, 56%®57c: No. 4 yellow. 56®56%c; No. 5 yellow. 64%@ 55%c; No. 6 yellow, 54®54%c: No. 2 white, 59c; No. 5 white, 55c; No. 6 white. 54c; sample grade. 47c. Oats —No. 2 white, new, 24%®25%c; No. 2 white, old. 36%®27%c; No. 3 white, new, 23 %c. Rye—None. Barley—37os3c. Timothy—s4.so®4.7s. Clover —513.50020. TOLEDO, 0.. July 24.—Grain on track, 28%c rate. Wheat—No. 2 red. 47®48c: No. 2 red lc premium. Corn—No. 2 yellow, 56®57c; No. 3 yellow, 55®5Sc. Oats—No. 2 white. 27@28c: No. 3 white. 28®27c. Clover —Prime, $13.50; Oct., $13.50; Dec., $13.75. Alsyke—Cash. 08.65: Aug., $8 65; Dec., *8.90. Buter—Fancy creamery. 27® 28c. Eggs—Country run. X7@2Cc. Hay— Timothy per cwt., $1.25.

Cash Grain

—July 24 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b. shipping point, basis 41 %c New York rate, were: ’.Vheat—Easy: No. 1 red. 42®44c; No. 2 red. 41043 c: No. 2 hard. 40042 c. Corn—Easy; No. 2 white. 52 0 54c: No. 3 white, 51053 c: No. 2 yellow. 50@51c: No. 3 yellow. 49@>50%c: No. 2 mixed. 49@50c No. S mixed. 48®49c. Oats—Easy: No. 2 white. 22’/2®23%c: No. 3 white. 21%022 ! / 2 C. Hay (f. o. b. country points taking 23Vac or less rates to Cincinnati or Louisville) Steadv: No. 1 timothy. $12.50013; No. 2 timothy $11011.50: No. 3 timothv. $10.50 @11: No. 1 clover mixed. $10010.50; No. 1 clover hav. $8.50 09. —lnspections Wheat—No. 1 red. 2 cars: No. 2 red. 9 cars: No. 4 red. 1 car: No. 1 hard. 1 car; No. 2 yellow. 2 cars; No. 3 hard. 1 car; No. 1 mixed. 1 car; No. 2 mixed. 1 car. Total. 18 cars. Corn (new)—No. 1 white, 2 cars; No. 2 white, 5 cars; No. 3 white, 7 cars; No. 4 white. 4 cars; No. 5 white 3 cars: No. 6 white. 1 car: No. 2 vellow. 4 cars: No. 3 vellow, 21 cars: No. 4 vellow. 2 cars; No. 5 yellow. 3 cars: sample vellow. 1 car; No. 2 mixed. 1 car; No. 4 mixed. 2 casr; No. 6 mixed, 1 car. Total. 57 cars. Oats—No. 2 white. 5 cars; No. 3 white, 4 cars. Total. 9 cars.

Local Wagon Wheat*

Citv grain elevators are paving 38c for No. 2 red wheat and 37c for No. 2 hard wheat. New York Liberty Bonds ... —July 24 3%s 102.19 Ist 4*4s 103.11 4th 4!4s .. 104.27 Treasury 4%S 113 Treasury 4s 108 12 Treasury 3%s 106.13 Treasury 3% 101.10 Treasury 3%s of '43 102.20

Safety for Savings Fletcher American NATIONAL BANK Southeast Corner of Market and Pennsylvania

p|Sf

BY BEN STERN 'T'HOSE politicians who set them- **- selves up as prophets have spent a busy week scratching the name of Arthur H. Greenwood from the list of Democratic senatorial prospects. Others have gone so far as to draw beside his name a question mark as the sure-fire cinch to be re-elected as congressman from the new Seventh district. And what’s it all about? Why, just this. Here is Greenwood representing the largest limestone quarrying region In the nation voting to have the George Rogers Clark memorial constructed of granite. “Treason, perfidy and heresy," shout the thousands of Monroe county residents who gain their livelihood directly and Indirectly through limestone. mum Greenwood’s vote for granite is a mystery even to his friends. The only possible answer for his thumbing down of the limestone for the memorial is that he honestly believes the other material to be the best. But did they catch Senator James E. Watson or Congressmen Albert “Nine-Vote Bert” Vestal of Anderson, or Will R. Wood of Lafayete (all Republicans) making such a grievous political error? Answer in that loud chorus: “They did not.” Neither was Congressman Eugene Crowe, Democrat of Bedford, also limestone territory, a sap. He knows that those limestone votes count (when they are permited to be counted honestly) and so ’Gene got on the right side of the fence politically. tt u u Now comes word, carefully and assidiously spread by Frederick E. Schortemeier, former secretary of state, candidate for the G. O. P. nomination for Governor in 1923, and probably candidate again, that not only will the granite cost $148,000 more than limestone, but that it Is quarried in Canada. That should make good campaign material for State Senator William' Hoadley of Bloomington who Is engaged in the limestone business and who again will seek the senatorship. Things in Monroe county looked Democratic to Bill until this George Rogers Clark affair, because Greenwood is very popular throughout the section and the G. O. P. does not stand in such a favorable light. But now all that Bill has to do is shout “Granite, Granite!” through the district and Greenwood will be busy explaining. Some folks get all the breaks. WANTED: A WASHINGTON He’s Needed to Play Stellar Role in Bicentennial Pageant. By United Press WASHINGTON, July 25.—There’s going to be a job here for a second George Washington. He’s wanted by the District of Columbia George Washington bicentennial commission to play the stellar role in a great pageant planned for next year. The successful applicant, said the commission, must look like the father of his country; have knowledge of surveying; understand farming; be able to take a hand in a revolution, If necessary, and should be able to throw a silver dollar across the Potomac river. The commission is going to advertise throughout the country in an effort to find a man with all those qualifications.

GRAND OPENING SATURDAY, JULY 25TH M ™: S i?S. KS 11 WORK SHIRTS Gray. brown Double stitch- WM and black. ed. Full cut. U W j&fe Limit 3 pairs || QQ r Limit M Q to a customer, li* to a customer. Agg Wf * V-" OPEN UNTIE II O’CLOCK SATURDAY NIGHT —The GLOBE-OUTLET Store—--331 W. WASHINGTON ST. SSTK.SS2y:?.SS-

tMake Your Future Secure at 20 W. Ohio St. 20 W. Ohio street houses an institution over forty years of age. It is an association with assets of approximately $5,000,000.00. This association invites your savings and offers as security a wonderful diversity of FIRST mortgages made only upon improved real estate. Upon each loan there is a eafety margin of about 50%. in addition to this the association maintains a surplus of over $300,000.00. There is rrm n0 curer sa?et Y nor a more certain and regular return than that given by . Union National. Place your savings where you know that they will be safe. Union National Charges NO Membership Fees Semi-Annually Maintains a Surplus and Compounded Undivided Profits of Dividends Over $300,000.00 for 40 Years I Union National Savings & Loan Assn 2o w. ohio sv. gsufta ira*—

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REFUSED BANK RECEIVERSHIP, DEPOSITORS SUE Seek to Make Meyer-Kisetf Stockholders Liable for $300,000 Judgment. Charging assets of the bank wiR not cover the $2,000,000 deposits. tw<* depositors of the Meyer-Ktser banis filed suit in superior court two Fri-. day to hold the stockholders respon* sible under the stockholders’ liability law. This followed closely a 3 to 2 decision of the supreme court orohibiting Special Judge Thomas D. McGee from proceeding with appointmentj of a receiver for the bank. The new suit demands that stockholders become responsible for judgment amounting to $300,000. A receiver for the fund also is asked. Symons Lauds Ruling Luther F. Symons, state bantt examiner, who turned the bank back to Its directors after its doors had been closed, heralded the supreme court decision as a "victory for depositors.” It will save thousands of dollars by eliminating expensive receiverships, Symons declared. In the suit appealed to the su preme court, depositors were demanding a receiver because they feared their interests would not bo guarded properly without one. Only the state bank commissioneC has authorit yto petition for a receiver for a defunct bank, the supreme court ruled. Two Judges Dissent f Judge Julius C. Travis and Judgd Walter Treanor concurred in thd opinion of Judge David A. Meyers, while Clarence R. Martin, chielj justice and Justice Curtis Roll dissented, holding the writ should not have been issued against the court. In a dissenting opinion, written by Chief Justice Martin, it was pointed out that the law governing} general receiverships of corporations still can be Invoked in the case of banks since there is nothing in the law exempting bank corporations still can be invoked in the case of banks since there is nothing in the law exempting bank corporations. Under this interpretation bank, creditors can ask a receivership in the same manner that creditors of any commercial corporation can do so.

The City in Brief

Authorized Ford auto dealers will picnic at Broad Ripple park Saturday, with the public invited. Various games and contests have been arranged. E. C. Von Tress of Chicago, representative of the advertising department of the Curtis Publishing Company, spoke at the weekly luncheon of the Advertising Club of Indianapolis at the Columbia Club Thursday. Promotion of Forrest H. Powell,' sales manager of the Indianapolis branch of the General Baking Company, to manager of the plant, was announced today. Finance and promotion were discussed at a luncheon in the Severin Thursday of ten members of thebudget committee of the Disciples of Christ and representatives of other organizations in the brotherhood. George D. Conlee, chief engineer of the Republic Flow Meters Company, will address the Scientech Club at noon Monday at the Architects and Builders building on “The Use of Devices for Measuring the Flow of Fluids in Pipes.” There are at least five libraries fit the world which contain more than a million volumes.