Indianapolis Times, Volume 43, Number 75, Indianapolis, Marion County, 6 August 1931 — Page 14

PAGE 14

STOCK MARKET RALLIES AFTER EARUDECLINE Bears Relax Pressure When Steel Fails to Break Old Low.

Average Stock Prices

Average of thirty Industrials for Wednesday was 134.10. off 2 40. Average of twenty rails was 72.16, oft .66. Average of twenty utilities was 55.77. oft 80. Average of forty bonds was 84.72. off .19. By ELMER C. WALZER United Press Financial Editor NEW YORK. Aug. 6.—Unable to break the price of United States Steel common stock below the low for the bear market made on June 2at 83V4, bears lightened pressure against the stock market after an early dip today and prices Armed up. Around noon gains of fractions to a point were in the majority, with losses of small amounts in only a few issues. The same procedure was noted in the grain market after wheat had been driven to new record lows here and to new lows since 1592 in Liverpool. Cotton maintained a firm tone on reports Germany was ready to take 600,000 bales of American cotton on credit. The London stock market was helped by a recovery in sterling after the French raid on that exchange Wednesday. Steel Comes Back United States Steel touched 83% and came back a point from that level to 84%, where it was up Vz point net. American Telephone rose to 165%, up % from a low of 164%. American Can touched anew low since 1929 at 88%, and came back too 89%, up Vi. net. Around noon Case was at 53%, up 1, while fractional advances were recorded in General Electric, Radio, Vanadium, Union Carbide, Bethlehem Steel, Electric Power and Light, Chrysler, General Motors, Auburn, General Foods, Alaska Juneau and Anaconda. Bear pressure appeared to have lifted from American Telephone, which had been a target for the last few sessions. In connection with the decline in Telephone, it was learned officials of the company have been watching the operations of the bear group in the issue. Dividend Is Earned The telephone people, it was said, saw in it merely an effort to take advantage of the feeling of popular unrest following the cut in the Steel Corporation dividend to create a similar feeling in reference to American Telephone. Interests close to the company pointed out that American Telephone had earned slightly better than its dividend to date and “every indication goes to show that it will certainly continue its present rate of earnings if not increase it. The regular dividend, they said, would be paid.

Bank Clearings

__ E LNDIANAFOLIS STATEMENT —Auk. 6 Clearings $2,654,000.00 Debits 5,116.000.00 CHICAGO STATEMENT —Aug. 6 Clearings $53,400,000.00 Balances 6,600,000.00 • TREASURY STATEMENT Aug. 6 Net balance for Aug. 4 $238,055,972.80 Expenditures 20,273,620.81 Customs rects. mo. to date.. 4,259.335.54

Net Changes

By United Press NEW YORK, Aug. s.—Closing prices on principal stocks traded on the New York Stock Exchange today: Off. American Can 89% 2% American Telephone 165 4% Anaconda " 23% 1!i Atchison 14 7% 1% Auburn Auto 137% 3% Bethlehem Steel 36% % Case. J. 1 52% 45 Chrysler 23% % Consolidated Gas 91% 1 Fox 14 V* 1% General Electric 39% 1 General Motors 37% 1 International Telephone 26% % Kennecott 17% % l.oew's. Inc 46 % Lorillard 18% % Montgomery Ward 20V* 1% National Biscuit 57% % New York Central 72% % North American 65% 1 Packard 6% % Pennsylvania 42% 1 Standard Gas and El 61 % Standard Oil of Cal— 35% % Standard Oil of N J 37% v* Standard Oil of N. Y 17% % Texas Corporation 22% % United Corporation 21% % United States Steel 84 % 1% Vanadium 26% % Westinehouse Electric 58% 1

New York Curb Market

(Bv Thomson & McKinnon) —Aug. 6 11:30i 11:30 A1 Cos of Am 117 |Mt Prod 17% Am Cvnamid.. 7% Nat Fam Stores 2% Am G & E 1... 63 Nat Inv 5% Am Sun Pwr.. lO'aiNewmont Min.. 26% Ark Gas A 3% Nla Hud Pwr... 10% Ass Gas & El A i2%,Penroad 5% Can Marc 2%i3t Regis Paper. 11% Cities Servv... 9% So Union Gas.. 7 Cord 7%iStd of Ind 22% Elec Bnd Sh... 36'*!Std of 0hi0... 43% Gen Avia 4%|Jn Gas 6% Ford of Eng ... 11 Un Lt <fc Pwr.. 19% Goldman Sachs 5%:(Jn Verde 10 Imp Oil of Can 13% Ut Pwr B 8% Insull Ut 26% Vacuum Oil 43 s , Int Pete 12% United Fndrs... 4% Mo Kan Pipe.. 4%i

New York Bank Stocks

(Bv Thomson & McKinnon) —Auk. 5 Bid. - Ask. America 40 43 Bankers 91*4 94% Brooklyn Trust 380 390 Central Hanover 312 217 Chase National 63% 66% Chatham Phoenix Natl 59 62 Chemical 4444 46% Citv National 74% 77*4 Corn Exchanße 93 97 Commercial 228 238 Continental 21% 24% Empire 44% 47% First National 3.450 3.650 Guaranty 431 436 Irving 31% 33% Manhatten <fc Company ... 63% 66% Manufacturers 41% 43% New York Trust 140 145 Public 46 49 Chicago Stocks Opening iBo James T. Hamlll & Cos.) Aur. 6 Bendlx Avia... 30% Insull com 26% Borg Warner... 18%,Lib McNeil Prod 10% Cent So Wst.... 16% Mid United com 17% Houd Hersh B . 5%;U S Rad & Tel.. 28% Elec Household. 15 IWalcreen Strs.. 17 Marriage Licenses Arnold C. Gremmels. 30. of 1813 Talbot avenue, electrician, and Bessie S. Brown. 23. of 919 Eastern avenue. Max Stebbins. 21. of 310 East Sixteenth street, laborer, and Gladys Brvson. 16. of 1338 North Capitol avenue. Edgard B. Manefee. 56. of 1266 Weat Twentv-slxth street, painter, and Cora Vincent. 40. of 1266 West Twentv-slxth atreet. x Harold E. Wvatt. 39. Indianapolis, salesand Mary H. Owens. 18. of 646 North Qoogtet avenue.

New York Stocks ""“ *Br Thornton 61 McKinnon 1 11

—Aug. 6 Railroads— Prev High. Low. 11.30 close. Atchison 147% 145% 145% 147% ! Balt & 0hi0.... 46% 46% 46% 47 Chesa & Ohio 35% 34% Chesa Corn 35 Chi Grt West 6 Chi N West 25% ... CRI 6s P 35% 35% 35% 36% I Del L 6: W 51 Del 6s Hudson 116 116% I Erie 19 | Great Northern 40 39% 38% 40 Illinois Central 41 41% M K 6c T 12% 12% 12% 13 N V Central... 71% 71 Vs 71% '2la NYNH6sH 63% Nor Pacific 34% 33% 34 34 O 6c W 11% ... Pennsylvania .. 43 42% 43 42% Seaboard Air L % ... So Pacific 75 Southern Ry 27% St Paul 4% 4% St Paul pid BVa ... St L 6\S F 15V, ... Union Pacific ..147% 146% 146% 147% W Maryland 11% Eqalpments— Am Car 6s Fdy 16% Am Locomotive 17% Am Steel Fd 15 V, Am Air Brake 8 27% Gen Am Tank .. 58 57% 57% 58% General Elec ... 39% 39% 39% 39% Gen Ry Signal 51V, Pullman 30 29 % Westtngh Ar B 25% 25% Westlngh Elec.. 58% 57% 58% 58% Rubbers— Fisk % % Goodrich 12% Goodyear 39 Kelly Sprgfld 2% IU 8 Rubber 13 % 13 Motors— Auburn 135% 135 135 137% Chrysler 23% 23 23% 23% Graham Paige 3 General Motors.. 37% 37% 37% 37% Hudson 13% 13% 13% ... Hupp 7% Mack 29% 27% 29% 29% Nash 25% 25% Packard 6% 6% 6% 6% Pierce-Arrow 12 Vi Reo 6V Studebaker 17 17V* Yellow Truck 7% ... Motor Access— Bendlx Aviation 20V, 20% 20% 20% Borg Warner 18% 18% 18% 19 Briggs 13% 13% Budd Wheel 8% ... Eaton 14% Houda 5% 5% Sparks W ... 7% 7% Stewart Warner li% Timken Rolll 29% Mining— Am Metals 10 10 Am Smelt 30% 30 30V, 30% Anaconda Cod.. 23% 23% 23% 23% Cal 6s Hecla 6% Cerro de Pasco 16% Dome Mines 11% 11% Granby CorD 12% 12% Great Nor Ore 18% ... Int Nickel 12% 12% 12% 12% InsDiration 7 Kennecott Cod 17% 17% Magma Cop 14 Miami Copper 6% Nev Cone 8% 8% Texas Gul Sul 33% U S Smelt 16 Oils— Amerada 13% 18% Atl Refining... 14% 14% 14% 14% Barnsdall 7% Beacon 9 Houston 8% 8% 8% 0% Indian Refining 2% 2% Ohio Oil 9 % 9% Mex Sbd 14% 14% 14% 14% Mid Conti 9% 9Vi Phillips 8 7’/, 8 7% Pr Oil 6s Gas 9% Pure Oil 7% 7% Richfield 1% Royal Dutch 25% 25% Shell Un 5 5% Sinclair 9% 9% 9% 9% Skellv 5 4% 5 Standard of Cal 36% 35% 35% 35% Standard of NJ 37 36% 37 37% Standard of N Y 17% 17V, 17% 17% Texas Cos 22% 22% 22% 22% Union Oil .. ... 15 Steels — Am Roll Mills... .. ... 20 20% Bethlehem 36% 36V, 36% 36% Byers A M 27% 27% 27% 28 Cruc Steel 38% ... Inland 40% Ludlum 11 Vs Midland 16% Republ I 6s S 13V4 U S steel 84% 83% 84% 84% Vanadium 26% 26% 26% 26% Tobaccos— Am To (Anew). 116% Am To (B new) .119% 118% 119 120 General Cigar 35 35% Llg 6s Myers 71 Lorillard 18 18 Vt Reynolds Tob .. 49 1 /, 49% 49% 50 Tob Pr A 10 Tob Pr B 3i/ 2 United Clg 4% Utilities— Abitibi 4 Adams Exp ... 14 Am For Pwr ... 26% 36V, 26% 26V, Am Pwr 6s Li 35 A T & T 165% 164% 1651a 165 Col Gas 6s El.. 28% 28V, 28% 29 Com 6s Sou 8 7% 8 7% El Pwr 6s Li.... 37Vi 37>/b 37% 37% Gen Gas A 4% ... Inti T6s T 26% 26% 26% 26% Natl Pwr 6s LI 24Vg No Amer Cos ... 65% 64% 65 65% Pac Gas 6s El ... 46 Pub Ser N J ... 78% 78V, 78% 78% So Cal Edison.. 41% 41% 41 % 41% Std G6s El 60% 61 United Corp ... 21% 21% 21% 21% Ut Pwr 6s LA. 21% 21% 21% 21% West Union ....110% 109% 110 lliy 8 Shipping— Am Inti Corp... 13% 13 13 13'/, Am Ship 6s Com % Int.l Mer M pfd 7% 8 United Fruit.... 55% 55 55 55% Armour A 1% 1% Cal Pkg 23% 22% 23% ... Can Dry 37

Produce Markets

Eggs (country run)—Loss off delivered in Indianapolis. 12c: henerv quality No. 1. 14c: No. 2. 9c. Poultry (buying prices)—Hens weighing 5 lbs. or over. 17c: under 5 lbs.. 17c; Leghorn hens. 13c: 1930 broilers, full feathered 3 lbs. and un 24c: under 3 lbs.. 21c: bareback. 12c: Leghorn broilers, 18c: ducks. 9c: old cocks B@9c: ducks, full feathered, fat whites. 9c: eeese. 6c. These prices are for No. 1 top quality, auoted bv Kingan 6 Cos. Butter (wholesale)—No. 1. 27@28c: No. 2. 25®26c. Butterfat—26c. Cheese (wholesale selling price per pound)—American loaf. 23c: pimento loaf. 25c: Wisconsin firsts. 19c' Longhorns. 18%c: New York limberger. 30c. By United Press CHICAGO. Aug. 6.—Eggs—Market unsettled; receipts, 4,400 cases: extra firsts, 19®20c; firsts. 18c; current receipts. 15® 16c: seconds. 12@13%c. Butter—Market, firm; receipts. 6.198 tubs; extras. 26'4c; extra firsts. 25®25%c; firsts. 22%®24c; seconds. 19%®21%c; standards. 26%c. Poultry—Market, about steady; receipts. 1 car; fowls 20®21c; springers. 24®26c: Leghorns. 15c; ducks. 15ft 18c; geese. 14c; turkeys, 15®18c: roosters. 12®13c; broilers. 2 lbs.. 22®24c; broilers, under 2 lbs., 20% ®22e: Leghorn broilers. 18® 19c. Cheese— Twins. l4®l4V*c; young Americas. 14Vi® 14 3 /*c. Potatoes—On track. 121; arrivals. 31: shipments. 354; market, steadv to firm; Missouri skd. cobblers. 1.2001.40; Idaho skd. russets S2O 2.10: East Shore Virginia barrels, cobblers. $2.45®2.65. By United Press NEW YORK. Aug. 6.—Potatoes—Market, steadv; Long Islands. $2®2.25 barrel; southern. $1.25*1.60 barrel. Sweet potatoes—Market, steady: Jersey baskets. $1.65 ®1.75: southern baskets. 50c®51.75. Flour —Market, dull and weak; spring patents. $3 85®4.25 barrel. Pork—Market, dull; mess. $21.75 barrel. Lard—Market, steadv; middle west spot. .076®.077c lb. Tallow — Market barely steadv: special to extra. 3% @3%c. Dressed poultry—Market firm: turkevs. 25® 50c: chickens. 25@40e. broilers, 26®39c: fowls. 12®29c; Long Island ducks. 13®18c.. Live poultry—Market. steady to firm: geese. loftl2c: ducks. 12®21c; fowls. 19@24c: turkevs. 12®25c; roosters. 14® 15c; broilers. 18ft 31c. Cheese —Market, firm; state whole milk, fanev to special. 14®23c; young Americas, fresh. 15%®16c. By United Press CLEVELAND. Aug. 6.—Butter—Extras. 30%c: standards. 30%e: market firm. Eggs —Extras. 23%c: firsts. 16%c: ordinaries, 14%e: market, easy. Poultry—Heavy fowls. 22® 23c: medium, 22c; Leghorn. 15®18c; heavy broilers. 23®26c: light broilers. 17® 21c: ducks. 13®15c: old cocks. 12c: geese. l©lsc: market, steadv. Potatoes—Virginia No. 1 Cobllers best $2.50®2.55: fair $2,40 No. 2. verv few sales around $2.40 per cloth to pstavve barrel: Maryland mostly $2.55 per barrel. By United Press CINCINNATI. 0.. Aug. 6.—Butter, steady; creamery in tub lots, according to score, 22®24c: common score discounted. 2c<73c: packing stock No. 1. 18c; No. 2. 15c; No. 3.10 c; butterfat. 21ft23c. Eggs—Steadv; cases, included; extra, firsts. 20c; firsts. 16c; seconds. 13c; nearby ungraded. 17c. Live poultry—Thin and coarse stock sell only at heavy discount: fowls. 5 lbs. and over. 23c: 4 Ibs. and over. 22c; 3 lbs. and over. 18c: Leghorn. 3 lbs. and over. 17c; roosters. 11c: broilers colored. 1 lb. and over. 23c; 1% lbs. and over. 24c; 2 lbs. and over. 25c: fryers. 3 lbs. and over. i.Sc; partly feathered. 15®20c: Leghorn broilers. 1 lb. and over. 21e: 1% lbs. and over, 22c: 2 lbs. and over. 22c; black springers. 20c.

Investment Trust Shares

(By Gibson <fc Bernard) PRICES ARE TO 12 NOON C. S. T. —Aug. 5 Bid. Ask. Amer Found’s Coro com; 33% Am & Gen Sec A 12 Am Inv Trust shares 4% 4% Basic Industry shares 4% 5% Corporate Trust shares 4% 4% Cumulative Trust shares.... 5% 6% Diversified Trustee shares A... 14% First American Corp 7 7% Fixed Trust Oil shares 3% ... Fixed Trust shares A .* 12 Inv Trust NY' 6% 7% Leaders of Industry series A 6% ... Low Priced shaies 6% 6% Nation Wide Securities 5% 6 National Industry shares 4% 5% N Am Trust shares 4% 4% Se! Am shares 4% 4% Shawmut Bank Inv Trust 7% 9 Universal Trust shires 4% 5% Super Corp of Am Trust sh A 5% 6 Fundamental Trust shares A.. 5% 6% Fundamental Trust shares A.. 6% 6% V S Elec Li Pwr A 28% SO%

Cont Baking A 64% Corn Prod 64% 64% 64% ... Cudahy Pkg 40 Cuban Am Sug 4% 4% Gen Foods 49V* 49 49 48% Grand Union 96 Jewel Tea • ... 40% Kroger 30% 30 30 30% Nat Biscuit 58 57% Purity Bak 26% 26% Safeway St 62 61% 61'% 62% Std ®2l n<5 * 58 13% Ward Bkg 3% Drags— Lambert Cos 64% Lehn 6s Fink '26% Industrials— Am Radiator ..... . 12% Gen Asphalt ' ** * 20 °. u s Eiev 39% 391% ‘3914 3934 Indus Chains— Allied Chem ....106 105% 105% 106 Com Solv. 16V, 16 16% 16V, n n ß° n Tr,S a ?? J 8 % 47% 48'% 48% U S Ind Alco .. 28'% 27% 28% 28V, Retail Stores— Assoc Dry Gds.. .. iai< Gimbel Bros " 5% Kresge S S ” jgvi 26% Ward .... 20% 19% 20% 20Vi Penny J c 3734 37 Schulte Ret St.. .. .. % S ar * Roe 56 53V, ‘56 55% Woolworth 68% 68% 68% 68% Amusements— Col Graph 8 7% 7% Eastman Kod ..134% 133% 134% i34% Film A .... 14% 13% 14% 14% Grigsby Gru ... 3 2% 32% Loews Inc 45% 44% 45‘/a 46 Param Farrt 22% 22% 22V, 23 Radio Corp 17 16% 17 16% RK O .....l 13% 13% Warner Bros ... 7'% 7% 7V 7% Miscellaneous— Congoleum 12% Am Can 89% 88% BS% 89% Cont Can 46% 46% Curtiss Wr 32% 33 Gillette S R 20% 20% 20% 21 Real Silk 6 Un Aircraft 27 26% 27 26% Int Harv 38% 38%

Dow-Jones Summary

Imperial Bank of India has advanced its discount rate 1 per cent to 7 per cent. New York cables opened in London at 4.85 3-16; Paris checks. 123 80; Amsterdam, 12.032; Italy. 92.82. and Berlin 20.50. Webster Eisenlohr Inc., June quarter net loss $126,729 after expenses against net loss of $106,523 in the preceding quarter and net loss of $7,089 in the June 1930 quarter; six months net loss $233,251 against net loss of $112,460 in the first half of 1930. Park Utah Consolidated Mines Cos., and Ontario Sliver Mining Cos., six months ended June 30 consolidated, net loss $227,336 after ordinary taxes and depreciation, but before depletion against net loss of $49,256 In the first half of 1930. Stocks of slab zinc at the end of July totaled 131,833 short tons against 138.928 short tons in June and 117,724 in July 1930 according to American Zinc institute. Production In July was 21,365 tons against 23,483 in June and 40,023 in July 1930; shipments were 28,460 tons in July against 27,604 in June and 35,389 tons in July 1930. , Electric Auto-Lite, six months ended June 30. net profit $2,769,865 after charges and federal taxes equal after preferred dividend to $2.94 a common share against profit of $3,364,839 before federal taxes In the first half of 1930. Commercial Investment Trust Company, in six months ended June 30. earned $1.26 on average common shares against $1.53 m the first half of 1930. Crucible Steel in six months ended June 30, earned $1.93 on 250.000 shares of 7 per cent against $2.62 on 550.000 shares of common stock in the first six months of 1930. Pillsbury Flour Mills declared the regular Quarterly dividend of 50 cents on the common stock payable Sept. 1. of record Aug. 15. Atlas Powder declared the regular quarterly dividend of $1 on the common stock payable Sept. 10. record Aug. 31. Pullman Company report on transportation operations for June shows net after expenses and taxes of $351,687 against $917,430 in June, 1930; six monhts. $832,559, against $2,631,040. White Sewing Machine, first half net loss $225,868 after expenses, against $178.i49 a year ago; June quarter net loss $185.SO6, against $40,062 in the preceding quarter and $101,760 a year age. Newport Company six months ended June 30 net profit approximately $483,000 after depreciation federal taxes, etc., against $690,836 in the first half of 1930; June quarter net profit about $242,000. against $264,819 in the second quarter of 1930. Bank of England statement as of Aug. 6 shows circulation 365,251,000 pounds, against 359.361.000 pounds on .July 30; Bullion 134.827.000. against 133.309.000. and ratio 41.2 per cent against 32.4 per cent. Eagle Picher Lead six months ended June 30 net loss $316,002 after depreciation. depletion and inventory adjustments etc., against $836,412 a year ago. Federated Metals six month to May 31. net loss $991,166 after interest, depreciation and inventory adjustment; year ago net loss $482,082. Ontario Steel Products year to June 30 net loss $86,138 after all charges against net income of $28,972 a year ago. World visible coffee supply Increased 266,153 bags in July to 6.989.952 hags which is 1.671.037 above a year ago. Alaska Juneau July profit before depreciation and taxes $131,600 against 581.500 a year ago; seven months. $979,050 against $516,350. Anaconda Wire and Cable tn June Quarter earned 28 cents against 38 cents in the preceding quarter and 31 cents a year ago; six months 66 cents against 45 cents in 1930 half. S. S. Kresgke July sales $10,721,890 against $10,882,426 in July. 1930; seven months. $77,960,492 against $78,340,038. Other LivesiocK By United Press FT. WAYNE. Aug. 6.—One hundred to 140 lbs., $7.25; 140-160 lbs.. $7.50; 160-180 lbs.. $7.80: 180-200 lbs. $7.90; 200-210 lbs.. $7.80; 210-220 lbs.. $7.70: 220-230 lbs.. $7.55; 230-240 lbs., 57.45; 240-250 lbs., $7.35; 250260 lbs.. $7.20; 260-270 lbs.. $7.05: 270-280 lbs.. $6.90; 280-290 lbs.. $6.80; 290-300 lbs.. $6.65; 300-325 lbs.. $6.40; roughs. $4.50: stags. $3.25; calves. $8.50; lambs. $6.50; hogs, market steady to 10c lower. By United Press CLEVELAND, Aug. 6.—Hogs—Receipts, 400; holdovers. 60; 160-231 lbs., 10c higher at $8.60; others, steady; scattered 265lb. weight. $7.25; 290-320-lb. kinds, $6.25® 6.75 or above; pigs, SB. Cattle—Receipts, 300; demand for ary feds but none available; low grade grassers again predominating and practically no action; cows and bulls steady to weak; cows, $2(34.50, and sausage bulls. $3.50(34.75 or above; calves, receipts. 250: steady; nothing particularly toppy about vealers at $10(310.50; best quoted at $11; medium at $9(3 9.50; few culls under SB. Sheep—Receipts. 600; lambs, steady; not too erratic on top kinds, few $8.75; bulk $8.25 downward; throwouts. largely $5.50®6; sheep, 25ft50c lower; wethers at $3.25. showing decline. By United Press PITTSBURGH. Aug. 6.—Hogs—Receipts, 750; market, slow, steady to weak; 150215 lbs.. $8.25(38.50; 220-250 lbs., $7.50® 8.10; 260-280 lbs.. 57ft7.35; 100-140 lbs., $7.65®8; good packing sows, [email protected]. Cattle—Receipts, 75; market, about steady; medium to good grass cows. $3.50*4.50; cutter to medium culls, s3® 4.25: calves, receipts. 125; market, slow to steady: good to choice medium weight veejers. $7.50(39: medium to choice heavyweights. $5 50®8. Sheep—Receipts. 1.000; lambs, 65 lbs and above, active, steady to 25c higher; better grade lambs, $8: few. [email protected]; medium to good kind, $6.50® By United Press TOLEDO. Aug. 6—Hogs—Receipts, light: market 10® 15c higher on lights; heavies slow and steadv; heavies $6.25® 7- meduiir.S. $7.40®7.75: Yorkers. 57.23®7.50; pigs. $7.25® 7.50. Cattle—Receipts. 100market. slow. Calves—Receipts, light: market, strong. Sheep—Receipts, light; market, slow. By Times Special LOUISVILLE, Aug. 6.—Cattle—Receipts 250: best kinds steady, others uneven; bulk medium and good slaughter steers and heifers. $5 50® 6.50; common down to 53.50best cows. .$3.50®4.25: common. $2.25®3: low cutters and cutter cows. 51.2552.25; calves. 3CO; steadv: top vealers. $7 Hoes —Receipts. 500; steady: top. $7.80. for 160220 lbs.: 220-299 lbs.. $7.05; 290 lbs. up. $5.80: 140-160 lbs.. $7.05: 140 lbs. down $6 55; packing sows. $4.053 5.05: stags $3 55 down. Sheep and lambs—Receipts. 1.000; lambs steady: better grades. s7® 7.c0: buck lambs. $6 50; culls. S3 50 down. Wednesday's shipments: Cattle. 154. calves. 200: hogs, none; sheen. 775. New York Liberty Bonds —Aug. 5 3%S 102.15 Ist 4%s 1u3.3 4th 4Lb . . 104.25 Treasuiw 4%s 112 12 Treasury 4s 108.21 Treasury 3%s 101 14 Treasury 3%s of '47 102.24 NEW YORK COFFEE RANGE —Aug. 5 High. Low. Close March 5 61 5.57 5.57 May 5.70 5.59 5.67 July 5.82 5.77 5 77 September 6 13 4.92 5.13 December 5 40 i.25 5.40

THE INDIANAPOLIS TIMES

SALES REDUCE RECENT CAINS IN PORK MART Cattle Trade Shows Little Change: Sheep Move Up 25 Cents. Hogs showed a weaker tone today after Wednesday’s upturn at the city yards, prices ranging from steady to 15 cents down on weights under 200 pounds. Heavy butchers were 25 cents to 40 cents lower. The bulk, 140 to 280 pounds, sold for $6.90 to SB, early top holding at $8.15 for a small lot or two. Receipts were estimated at 400; holdovers were 116. Slaughter classes were little changed in the cattle market. Receipts were 700. Vealers sold off 50 cents at $8.50 down. ’Calf receipts were 700. Good and choice lambs were strong to 25 cents up, selling mostly at $6.50 to SB. Lower grades were dull. Sheep receipts were 1,500. Chicago hog receipts were 15,000, including 3,000 direct. Holdovers numbered 6,000. The market opened strong to 10 cents higher than the Wednesday average. Good to choice 170-210 pound weights sold at $7.90 to SB.IO with an early top of $8.10: some held higher; 220-260 pounders, $7.15 to $7.90. Cattle receipts were 6.000 and calves 15,000. The market was steady. Sheep receipts, 12,000; steady. —HOGS— July Bulk. Early top Receipts. 30. $7.00® 8.50 $8.50 3 000 31. B.oo® 8.50 8.40 4.000 Aug. 1. 6.75® 8.00 8.00 1,500 3. 6.75@ 8.00 8.00 2.000 4. 6.75® 7.85 7.85 3.500 5. 7.00® 8.00 8.00 3.000 6. 6.90® 8.00 8.10 4.000 —Aug. 6 Receipts, 4,000; market, lower. —Light Lights—-(l4o-160) Good and choice $7.50® 7.75 —Light Weights—-(l6o-180) Good and choice.... 7.90® 8.10 (180-200) Good and choice 7.90® 8.10 —Medium Weights—-(2oo-220) Medium and good.. 7.80® 8.00 (220-250) Good and choice.... 7.45® 7.75 —Heavy Weights—-(2so-290) Good and choice.... 6.80® 7.40 (290-350) Medium and g00d... 6.23® 6.75 —Packing Sows—-(27s-500) Medium and g00d... 4.50® 6.00 (100-130) Slaughter nigs 7.25 CATTLE (Slaughter Class) Receipts. 700i market, steady. —Steers— Good and choice $ B.oo® 9.50 Common and medium 5.50® 8.00 (1,100-1.500) Good and choice 7.75® 9.25 Medium 5.50® 7.75 —Heifers—-(soo-850) Good and choice 7.50® 9.50 Common and medium 4.50® 7.50 —Cows— Good and choice 4.75® 6.00 Medium 3.75® 4.75 Cull and common 2.00® 3.75 —Bulls (yearlings excluded)— Good and choice beefs 4.00® 4.75 Cutter, common and medium.. 2.75® 4.00 CALVES AND VEALERS Receipts. 700: market, lower. > *~VC2l6rs* ,a * Good and choice $ B.oo® 8.50 Medium 6.00® 8.00 Cull and common 4.CO® 6.00 —Calves— Good and choice 5.00® 6.50 Common and medium 3.66® 5.06 STOCKERS AND FEEDER STEERS Good and choice 5.25® 7.00 Common and medium 4.00® 5.25 (800-1.500) Good and choice 5.25® 7.00 Common and medium 3.75® 5.25 SHEEP AND LAMBS Receipts. 1,500; market, steady. Good and choice $ 6.00® 8.00 Common and medium 3.00® ts.uu Ewes, medium and choice ..... 2.00@ 3.50 Cull and common I.oo® 2.00 Other Livestock By United Press CHICAGO, Aug. 6.—Hogs—Receipts, 15,000, including 3,000 direct; steady to strong; spots s@loc higher early, bulk 170210 las., $7.90*8.10; top, 8.15; 220-290 lbs.. $6.65@8: pigs, [email protected]; light 1 lights to $8; packing sows, $4.60®5.40; smooth sorts to $6; light lights 140-160 lbs., good and choice. $7.25@b; light weight. 160-200 lbs., god and choice. [email protected]; medium weights, 200-250 lbs., good and choice. $7.35 &8.15: heavy weights. 250-350 lbs., good and c ' loi ' ce > $5.75® 7.60: packing sows. 275500 lbs., medium and good, $4.50*6; slaughter pigs, 100-130 lbs., good and choice, $6.25® (.25. Cattle—Receipts. 6.000; calves, 1,500; fed steers and yearlings scarce and steady to strong; part load yearlings. $9.40; next highest price. $9.25; bulk fed offerings all other weights Selling at $7.75 upward and short feds ana grassers mostly $7.25 down to $5; grass cows and grassy heifers very dull, weak; buils weak to 25c lower; vealers steady; slaughter cattle and vealers, stars, 600900 ibs., good and choice, $8.25®9.50; 9001.100 lbs., good and choice, $8.25*9.50 1,100-1,300 lbs., good and choice. [email protected]; 1,300-1,500 lbs., good and choice. $7.50® 9.10 : 600-1,300 lbs., common and medium [email protected], heifers. 550-850 lbs., good and choice $6.75®9.25; common and medium. s3*7; cows, god and ehoice, [email protected]; common and medium. s3@4: low cutter and cutter. s2@3; bulls (yearlings excluded) good and choice (beef), $4.25*5i cutter to medium. [email protected]; vealers (milk fed), good and choice, $6.50*8.50: cull and common, $5®6.50; stocker and feeder cattle: steers. 303-1.050 lbs., good and choice. $5.50*7common and medium. [email protected]. Sheep— Receipts. 12,000; fairly active; market, steady with Wednesday’s average; better grade native ewe and wether lambs. $6.50 ®7.50 to packrs; few $7.75 to city butchers rangers unsold; fat ejj'CL s2@3; slaughter sheep and lambs: lamas 90 lbs. down, good and choice. $6 50*7.85; medium. $4.75® 6.50: all weights common. $3.50®4.75: ewes. 90-150 lbs., medium to choice. $1.75*2.25all weights cul and common, 75c®2.25; feeding lambs. 50-75 lbs., good and choice. $5#5.50.

By United Press 1 SI, NC J r {5 rA ' rl - Au £- 6—Hogs—Receipts. 1.600: heldover none; slow, mostly steadybetter grade. 170 to around 230 lbs.. sß® 8.25; mostly $8.25 on 220 lbs. down; one load or more choice uniform around 180ib. averages. $8.35; some 250-270 lbs.. s7ft (.2o; 120-160 lbs.. $7.50; a few sows. $4.50 ®o. Cattle—Receipts. 275: calves. 275. slow, generally steady: common and medium steers and heifers. $4.50*6.75; a few better finished yearlings. s7®B; most beef cows [email protected]; low cutters and cutter cows. $2*3.50; practical top bulls. $4.50: vealers active, mostly steadv: good and choice. 57.50<38.50; lower grades, $7.50 down. Sheep—Receipts. 2.300; better grade ewe ana wether lambs in good demand; strong to 25c or more higher at sßft'B.Bs. some held $9: throwouts in narrow demand. quotable steadv to weak. s4® 5. mostly; skips downward to $3: sheep steadv to unevenly higher: fat ewes. s2® 3; best lightweights, 53.25; culls downward to sl. By United Press EAST ST. LOUIS. HI.. Aug. 6 Hogs— Receipts. 5,500: market, opened strong to 10c higher: later bidding lower; top, $8; most 160-220 lbs.. $7.75®7.90; 230-250 lbs.. $7.35® 7.65; 100-140 lbs., $7®7.50; sows, $4.50*5.75. Cattle—Receipts. 2,500; calves, receipts, 1.000; market: steers, scarce; four cars natives at $6.15*7.50; steady; a few western steers also steadv at 54.90ft6.15; vealers, 25c higher at 58.50; other classes steadv: cows. $3.50®4.50; low cutters. s2® 2. *5; top medium bulls. $4. Sheep—Receipts, 1,800; market, no early sales; indications steady; a few bids "$6.75®7. for desirable lambs; choice lambs helu higher. By United Press EAST BUFFALO. Aug. B.—Hogs—On sale. 1.100. weignts above 150 lbs., fa’rlv active, strong to mostlv 10c Higherweights, weak to lower, desirable 160-210 lbs.. $8.50(38.60: few 150 lbs $8 35' A e J g £ ts J> elow 14 0 lbs.. sß* 8.25: odd 1 its. 240-ib. butchers. $7.75. Cattle—Receipts. 150; steady, lightweight grass heifers, $5.50. Plain little steers and heifers. 54.50®5cutter cows. $1.50*3. C3 Ives—Receipts. 2<5: vealers. unchanged. $9.50 down Sheep —Receipts. 1.200; holdovers. 500; better grade lambs, steadv to weak: lower grades verv draggv. unevenly lower, near choice ewes and wethers. $8.25; mixed offerings incvludmg fat bucks. $7; throwouts. ss® 5. id: inferior lightweights downward to $4 and below. By United Press CINCINNATI, p.. Aug. 6.-Hogs-Re-ce.p.s. 1.600: heldover. none; slow, mostlv ■f-sadv. better grade 170 to around 230 ibs:. $8ft8.25. mostly $3.25 on 220 lbs. down„loa<:J or more choice uniform around 53.35: some 250-275 Ibs.. fi?'Jf : 120-160 lbs.. $7.50; a few sows. v4.du 1 5. Cattle—Receipts. 275: slow eenerally steady; common and medium steers and heifers. $4.50*6.75: a few better finyearlings. s7®B; most beef rows. $3.73*4.75: low cutters and cutters. s2@ 3. practical ton bulls. $4.50: vealers active. mostly sVadv: good and choice. $7.50 fta.Dp; lower grades. $7.50 down. Sheep— Receipts. 2.300; better grade ewes and wether lambs in good demand; strong to 2oc or more higher at $8*8.85. some held $9: throwouts in narrow demand, quotable steadv to weak at S4fts mostlv; skip* downward to $3: sheep steady to unevenly higher: fat ewes. s2*3: best lightweights. $3.25; culls downward to* sl.

BELIEVE IT or NOT

S'—coins—la Succession,. A | <£ of iS ■§ 4? ’ Catholic r—prssbvteßiah Minister. ' urR EPISCOPALIAN RECTOR. v/iV-TT’ X ’ -4. MEMBER or W 6 BRITISH PARLIAMENT -vj ■cjl I a I .Mb. BUDDHIST PRIEST- mChint - If' pMffl .TjjpJGP Bv % WOME.iIUDioh STa. Chicago Aug,7-1930 ?ip'—-I *' '****

Bright Spots of Business

General Motors Corporation declares regular dividend. Business failures reported by Bradstreets show further decline. Chevrolet Motor Car Company July output 66,307 units, against 58,690 in July, 1930. Bradstreet’s commodity index continues rise during July. Bickfords, Inc., sales for seven months to July 31 totaled $4,588,096, against 3,371,096 in like 1930 period. Kelvinator Corporation July shipments of refrigerators 49 per cent higher than in. July, 1930. New York Central loadings week ended Aug. 1 totaled 53,446 cars, against 51.494 cars in preceding week. National Public Service Corporation net income year ended June 30 totaled $5,671,424, against $5,094,096 in preceding fiscal year.

Local Wagon Wheat

Cit vgram elevators are paving 34c for No. 2 rod wheat and 33c for No. 2 hard wheat. Births Boys Kenneth and Violet Warner. 2909 Chester. William and Farris Wilson. 1638 North Arsenal. Girls William and Hazel Alls. 615 Arbor. David and Leona Jones. 2943 Euclid. Deaths Flora Robinson. 67. St. Vincent’s hospital. obstruction of bow'els. Patrica Cooley. 1 day. 2639 Manker. odema of brain. Mary Belle Morris. 73. Methodist hospital pulmonary embolism. Lottie Davis. 66. Methodist hospital, pulmonary embolism. Louisa Furnas Lone, 65. 902 North Pennsylvania. cerebral apoplexy. Doris Mav Walker. 17. Methodist hospital. accidental burns. Nora Rooney. 45, Central Indiana hospital. chronic bronchitis. Mintie May Buckham. 60. 2113 South State, chronic myocarditis. . Mary Ellen Duffev. 1 day. 2708 East New York, hemorrhagic disease of brain. James Jones. 59. 501 Vs West Twelfth, mitral insufficiency. Margaret Burdelow, 78. 1205 Prospect, broncho pneumonia. James W. Adams. 83. 1023 South Pershinc. hypostatic pneumonia. Sarah O. Foss. 86. 1520 Milburn, chronic tuberculosis. The Rev. O. E. Haley, chaplain of the Indiana reformatory, will address the Exchange Club Friday at the Lincoln.

GERMANS OFFER TO BUY U. S. COTTON

Sale Would Reduce Farm Board Surplus by 50 Per Cent. BY FREDERICK KUH United Press Staff Correspondent BERLIN, Aug. 6.—Accepting a suggestion of President Hoover transmitted through Ambassador Frederic M. Sackett, the German government offered today to buy from the federal farm board 600000 bales of United States cotton and to acquire am option on an additional 200,00 bales. From most reliable sources it was learned Germany’s proposal was transmitted to Washington Wednesday night. President Hoover’s further suggestion that Germany purchase American wheat was temporarily shelved, pending conclusion of the cotton deal. Experts seemed to believe that similar* arrangements on wheat could be made only on a small scale. The German acquiescence to Mr. Hoover’s suggestions was expected to produce favorable repercussions in both Germany and the United States, both from the standpoint of public opinion and of economics. Germany is in need of both cotton and wheat, according to experts, and the purchase from America was expected to help in strengthening prices and developing confidence. The offer it was

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

Following is the explanation of Ripley’s "Believe It or Not” which appeared in Wednesday’s Times:. A Spider Inherited a Fortune— Mile. Dupuy, an accomplished pianist of eccentric habits, left a considerable estate, consisting of cash and two houses, to her pet spider “its heirs and descendants in perpetuity.” The spider, she explained, “was her faithful companion and the only appreciative and tireless listener she ever had.” In her lengthy testament, which abounds in comparisons between human and spiders’ patience, to the advantage of the latter, she gives the spider credit for her musical accomplishment. The French court waived the formality of a declaration of acceptance on the part of the fortunate arachnid. Pat Bum’s 3,000-Pound Birth-; day cake—When the town of Calgary, Canada, celebrated Patrick Burns’ seventy-fifth birthday on July 6, 1931, a 3.000-pound cake was baked to provide 23,000 pieces for visitors to Calgary. The three-layer cake had a base eight feet square, and stood seven and one-half feet high. “La Maya,” the Girl Who Fights Men—Margarita Montes, girl athlete of Mazatlan, Sinaloa, Mexico, recently has taken up professional boxing, and is succeeding at it very well, scoring eleven successive victories. She competes with male opponents -and can more than hold her own with manj of them, as her record of eleven straight victories indicates. She is not a clever defensive boxer, as one might think, but is the real slugger type, with a knockout wallop in either arm. She is also manager of a girls’ baseball team., and does all the pitching herself. Building Permits Lincoln Oil Refining Company, alteration and repair. 141 East Maryland. SI,OOO. P J. Shampag. building. 1910 North Meridian (rear). SIO,OOO. E. G. Bauer & Son. dwelling and garage. 919 North Bolton. $3,200. J. D. Eastman Company, sign. 4178 College. $350. Pike Realty Company, dwelling and garage. 4925-29 North Capitol. SB,OOO. Pike Realty Company, dwelling end garage. 529 East Fifty-eighth. $5,000. H. H. Fulk. dwelling and garage. 6056 East Pratt. $5,250. RAW SUGAR PRICES —Aug. 5 High. Low. Close. January 1.46 1.44 1.44 March 1.50 1.47 1.48 May 1.55 1.53 1.54 Julv 1.60 1.59 1.60 September 1.43 1.41 1.41 December 1.46 1.43 1.43

learned, that it would be on a basis of a three-year credit. Cost of the cotton would be computed on a basis of a monthly average of prices on the New York Cotton Exchange or the monthly average of the New York-Bremen and Liverpool exchanges. Pay would be in buyers’ dollars notes at 4% per cent interest. Readiness was expressed to pay on delivery of goods. The estimated value of the cotton involved in the German offer was between $30,000,000 and $40,000,000, it was said. It was learned the United States had net made a specific offer, but had advised Germany that the farm beard was ready to dispose of 1,100,000 bales of cotton and 1.225,000 tons of wheat on a long-term credit basis and that it would accordingly welcome a German offer. A report today said United States copper producers intend to seek a similar accord here. Objections Raised WASHINGTON, Aug. 6.—Purchase of 800,000 bales of farm board cotton by Germany would reduce the federal-owned surplus stocks by more than one-half. The Cotton Stabilization Corporation, which holds the cotton, owns 1,300,000 bales. President Hoover’s proposal that Germany purchase surplus wheat and cotton has aroused widespread objection among dealers who assert that sales of surplus stocks would proportionately reduce the potential market for the current strop.

tc Registered U. ft. |_f V ratent Offlc* RIPLEY

In the Air Southeast wind, 10 miles an hour; barometric pressure, 29.97 at sea level; temperature, 81; ceiling unlimited; visibility, 12 miles; field good. Noah’s Arks of Air Noah’s ark had nothing on two big Fokker transport planes which touched at municipal airport Wednesday night, inaugurating T. & W. A. line’s new night freight air line. The west-bound plane, from New York to Kansas City, carried a 150pound Poland China hog and a crate of live lobsters, in addition to clothing, paint, newspapers, roller bearings and other articles. The east-bound plane carried a tomcat in a crate, a small pig, one crate of chickens and another of ducks and a 150-pound calf, among other articles. Airport Traffic Doubled Traffic at the new municipal airport practically has been doubled in the last four months, according to Charles E. Cox Jr., superintendent. July report ior the airport, announced today by Cox, reveals that a total of 1,743 passengers cleared the port, of which 1,379 were carried on planes of transport lines. During the month 2,526 pounds of ar mail were received at the port and 2,773 pounds were dispatched, compared with 1,648 pounds outbound and 1,561 pounds inbound in June. Fly Gliders in Formation By United Press ELMIRA, N. Y., Aug. 6.—The difficult feat of piloting gliders in perfect flight formation was accomplished by three entrants in the annual glider and soaring contests here. Albert E. Hastings, Los Angeles; Warren E. Eaton, Norwich, N. Y., and Wallace Franklin, Detroit, were towed by airplanes to a height of 2,000 feet and sailed their motorless planes in perfect flight formation. Several pilots passed Class C license tests. Starts ‘Surprise’ Flight By United Press COPENHAGEN, Denmark, Aug. 6. Parker Cramer of Rockford, 111., aviator, was at Angmagsair, Greenland, today, on a "surprise flight” over the North Atlantic to Copenhagen, advices from Greenland reported. Cramer in 1928 failed in an attempted flight to Scandinavia with Bert Hassell. In 1929, he was a member of the crew of the airplane Untin Bowler, which also failed to complete a flight from Illinois to northern Europe.

We buy and sell U S Liberty Loan Bonds U S. Treasury Certificates U S Insular and Territorial Bonds Indiana Municipal Bonds Indiana Gravel Road Bonds Federal Farm Loan Bonds Joint Stock Land Bank Bcndj Fletcher American Company 41 North Pennsylvania Street Affiliated with Tm Plstchir Ambucan Nauccui Bank

;AUG. 6, 1931

WHEAT FUTURES SHARPLY LOWER ON CABLE NEWS Liverpool Prices Break Through Levels of 1591. BY HAROLD E. RAINWTLLE United Pres* Staff Correspondent CHICAGO. Aug. 6.—With foreign confidence destroyed and Liverpool wheat breaking through the 1591 level on a further decline today, wheat fell to further low levels on the Board of Trade at the start. All deliveries of wheat and oata with March corn and September and December rye were at new lows for the season with September wheat equaling the all-time record low of 48 set by July last week and heretofore unequaled by any wheat future since the inauguration of trading in 1848. Com suffered a sharp setback, but held above low' levels owing to the failure of general rains to materialize over the belt while temperatures remain high. Liverpool Prices Slump At the opening wheat was Vs to % cent lower, com was unchanged to % cent down and oats were % to Vt cent lower. Provisions were slow and weak. Slowly, but steadily Liverpool eased during the day and at midafternoon was 1 to 1H cents off, much lower than expected. This semi-demoralized condition at the English market seems to have removed all the recent feeling in the wheat trade that prospects for acreage reduction and the low prices have discontinued the unfavorable features of the situation. Until there is some order abroad in financial affairs the market here will lack stability although the disposition is against selling at the present levels. Cooler weather now covers the northwest and is moving slowly toward the south. Rains Too Late Such rains as have been received in the Dakotas and lowa are believed to have come too late for the benefit of the corn crop. Com deterioration has been rapid in Nebraska and damage reports are received from there daily. The weather is clear and hot over a majority of the belt with Missouri getting the only rains. Commission houses are of tha opinion that oats are an investment purchase, but support on these lines has been poor. Hedging and scat-* tered liquidation is noticeable cut all small bulges. Chicago Grain Range —Auz. 6 ■WHEAT— Prev. Hleb. Low. 11:00. close. Sept .48% .47% .48% .48% Dec 52% .51% .52% 52% March 55 May 57% .56% .56% .57% CORN— Sept 51% -50% .51 .51% Dec 42 .41% .41% 42 March ... .44 .43% .44 44% May 46 .45% 46 46% OATS— Sept .21% 21% .21% 21% Dec 33% .23% .23% 23% Mav 26% .26% .26% 26% RYE— Sept 33% .33% .33% 34 Dec .37% .37% .37% 37% May 41% .41 .41% .42 LARD— Sept 7.37 7.37 Oct 7.30 7.30 Dec 640 6.37 6.40 6.47 By Times Special CHICAGO. Aue. 6 —Cariots: Wheat. 3911 corn. 20; oats. 78; rye. 3: barley. 9. SIGNAL DEVICE TESTED G. E. Engineers Experiment With Light Pulsation Code. By United Press NEW YORK, Aug. 6.—A new system of transmitting sound by means of light pulsations that enable ships to carry on secret and direct communication with some other point, is being tested by the General Electric Company. The system .called "narrow-cast-ing,” was tried out for the first time Wednesday when music and voices were carried across the Hudson river from a transmitter projector on Pier 29 to a receiver in the marine gardens of the new Dollar liner, President Hoover. The distance was approximately 3,000 feet. Static does not affect the neu r medium of communication. Prisoner Dies BLOOMINGTON, Ind., Aug. 6. Funeral services were held here Wednesday for James Tapp, 28, who died at the state reformatory at Pendleton after having served less than a year of a twelve-year robbery sentence. He had been ill several weeks. He leaves a widow and two children.

We Buy and Sell Real Estate Preferred Stocks and Bonds ZAISER & ZAISER 703 Fletcher American Building