Indianapolis Times, Volume 43, Number 110, Indianapolis, Marion County, 16 September 1931 — Page 12

PAGE 12

SHORT COVERING SENDS LEADING ISSUESJGHER Entire List Shows Strength After Westinghouse Dividend Action.

Average Stock Prices

Average of thirty Industrials for Tues- .?• 120.59. off .71. Average of twenty Wflft, 56 ?2~ n otl Average of twenty Utilities 48.99. off .50. Average of forty BY ELMER C. WALZER United Press Editor NEW YORK. Sept. 16.—Wall Street was completely surprised today when directors of Westinghouse Electric Company declared a quarterly dividend of 62 % cents when omission had been expected. This placed the stock on a $2.50 annual basis, against $4 paid previously. Before the announcement of the dividend was made shorts had a premonition of impending danger and scurried to cover. Westinghouse had touched anew low since 1921 at 4414, when suddenly bids for the stock came in thick and fast. A bid was made for 1,000 shares at 50, but this later was withdrawn. The stock sold at 49, where it was up 3L4 points from the previous close. Stocks Are Higher Buying of Westinghouse Electric brought out short covering elsewhere in the list. Steel common, which had touched 80, rose to 81 %, where it was up % from the previous close. American Can rose from 86'’4 to 88’4, up 1%; American Telephone from 151 Vs to 154 1 ,4, up 1%; Du Pont from 72 to 74%, up 1%; Eastman Kodak from 123%. to 128, up 3%, and Auburn Auto from 117 to 122%, up 4%. Railroad shares came back with the industrials. Atchison rose more than 3 points from its low and New York Central came back nearly 2 points. Utilities and other groups were carried up. General Motors turned active and held around the previous close.

Business Slacks As the noon hour approached volume of business slackened. One of the distinctly weak spots was J. I. Case preferred, which broke to 53, where it was off 15%. Selling in the latter issue reflected fears over the $7 annual dividend. The common stock sold down to 45%, off l x h. points and within a fraction of the low for several years made a short time ago. Westinghouse Electric preferred dipped to 78*4, off 3%, and then recovered nearly 3 points on the dividend announcement. The preferred dividend was pared down to 62 Va cents a share from $1 a share paid in the preceding quarter.

Bank Clearings

INDIANAPOLIS STATEMENT —Sent. 16Clearings $3,007,000 Debits 7.025,000 CHICAGO STATEMENT —Sent. 16— Clearings * 6 ’?22 - £22'82 Balances 2.100,000.00 TREASURY STATEMENT —Sept. 16— Net balance for Sept. 14... •$51,374,605.24 Expenditures 19,682,246.01 Customs rects. month to date 15.541.296.55

Mew York Curb Market

(Bv Thomson & McKinnon) —Sept. 16— 11:301 11:30 Alum Cos of Am 104 Vi Mead Johnson.. 59)4 Am Cvnamid... 6 IMidwest Ut 10% Am Gas & Elec 52% Mo Kan Pipe... 3 3 / Am Lt & Trac.. 32'4 Nat Inv 4 Am Sup Pwr... 8 3 INewmont Min.. 22V4 Ark Gas A 3'ilNia Hud Pwr... 9% Ass Gas & El A 5 ;Penroad 4% Cent Sts Elec.. 5 I Salt Creek .... 5% Cities Serv B%;Sel Indus .... 2% Cord s’/d Shenandoah ... 3 Elec Bnd Sh... 26'* So Union Gas.. 4 Oen Avia 3%iStd of Ind .... 23% Ford of Can... 15%.Std of 0hi0.... 45% Ford ot Eng... 8f T Stutz ....... 11 Fox Thea 2% Trans Air Trans 5% Goldman Sachs 4 Un Gas 4Vi Gulf Oil 50 Un Lt & Pwr... 16 Hudson 8av.... 3% Un Verde % Humble Oil 53% Ut & Indus 5% Imp Oil of Can. 11 Vi Ut Pwr B 6% Int Pete 10Vi United Fndrs.... 4

Investment Trust Shares

(Bv Gibson & Bernard.) PRICES ARE TO 12 NOON C. S. T. —Sept. 16— Bid. Ask. Amer Found's Corp com 2% 2% Am & Gen Sec "A” 11 ... Am Inv Trust Shares 3% 4Vi Basic Industry Shares 4 4% Corporate Trust Shares 3 13-20 4 3-20 Diversified Trustee Shares "A” 12% ... 34. Fixed Trust Oil Shares... 3% ... Fixed Trust Shares “A” .... 10% ... Collateral Trustee Shares ... 6 6% Leaders of Industry, Series A 5Vi ... Low Priced Trust Shares ... 5% 5". Nation-Wide Securities 4% 5*4 National Industry Shares ... 4% 4% N Am Trust Shares 3% 4V4 Sel Am Shares 3% 4% Shawmut Bank Inv Trust ... 7Vi 8% Std Am Trust Shares 4% 5% Universal Trust Shares 4% 4% Super Corp of Am Trust Sh A 4% 5% Fundamental Trust Shares A 5% s’i Fundamental Trust Shares B 5% 6V4 U S Elec Light Sc Pwr A... 26 3 i 28%

Net Changes

By United Prett NEW YORK, Sept. 15.—Closing prices and net changes on principal stocks traded today on the New York Stock exchange follow: Up. Off. Alaska Juneau 18'i ... Vi American Can 86 1 * s * ... Amer k Fo Pwr unchanged 20' 4 American Smelting 26 ... American Telephone 152 s * ... 4> Atchison 118 s * ... 2V Bethlehem Steel 35 s * * ... Case 47><! Vi ... Chrysler 17Vi ... l Consolidated Gas 83' 2 ... I s * Electric Power unchanged. 31 s * Fox Film A 11V* ... IV* General Electric 34 s * ... lVi General Motors 31 Vi ... International Nickel 10'i ... >-i International Telephone... 20V* ... V* Kennecott 14 V* ... V* Loew's Inc 45T* ... Vs Montgomery Ward 15 s * ... H N Y Central 60 ... V* Pennsylvania 32 s * ... V* Public Service 70 s * ... % Radio 16>* ... V* Sears Roebuck 49Vi Vi ... Standard Oil N J 35V* ... Vi Transamerlca 5 s * ... Vi Union Carbide 44 ... s * United Corp 18 ... Vi U S Steel 80 s * 1 Vanadium 22 s * Vi ... Westlnghouse Electric .... 45\ ... 3 Wool worth 61 s * ... lVi Worthington Pump 35Vi ... Vi New York Liberty Bonds —Sept. 15— 3'is 102 3 Ist 4Vis 102,25 4th 4 I S 104 23 Treasury 4 l is 110.30 Treasury 4s 107.4 Treasury 3*s 105. Treasury SHs ot ’47 .. 101.25 Treasury 3Vs of ’43 101.23 RAW SUGAR PRICES —Sept. 15— High. Low. Close. January 1.34 1.33 1 34 March 1.37 1.34 1.37 May 1.43 1.41 1.42 July 1.47 1 44 1.47 . September 1.34 1.34 1.34 i December 1.34 1.31 IM

New York Stocks <By Thomson St McKinnon;

—Sent. 16— •Bv Thomson & McKinnon) Railroads— Prev. High. Low. 11:30 close. Atchison IM>4 115*4 116*4 118% All Coast Lino 75% Balt St 0hi0.... 34% 34 34% 33% Chess St 0hi0... 28% 27% 28% 28% Chesa Coro 27% Chi Ort West 4% Chi N West. .. 17 18% 18% 17 C R I St P 28 25% Del L * W 34 33 34 33% Del St Hudson 99 100% Erie 13% 13% 13% 13% Oreat Northern 29% 28% 29% 29% Illinois Central 28 27% M K St T , 7% Mo Pacific 13*4 15% Mo Pacific Dfd 34% ... N Y Central.... 60% 59*4 60 % 60 Nickel Plate 15% NVNH4H..44 43 44 44 Nor Pacific 26 % 26% Norfoir St West 142 Va Q |f f {l] ~, Pennsylvania .. 3274 ii% 32*4 32H Reading 50 47 49% 47% So Pacific 62 61% 62 63% Southern Rv 18% 18% 18% 18% St Paul 3% 3% 8t Paul pfd 5% 5% 5% 5% St L St 8 F 10 10 Union Pacific ...125 123 125 125% Wabash 6 W Maryland ... 9 8% 8% 9 West Pacific 4 4 Equipments— Am Car St Pdy .. ... 13 13 Am Locomotive 13y Am Steel Pd ... 10% 10% 10% 11 Am Air Brake S 25% Gen Am Tank. 51 50% 51 51*4 General Elec . . 35 V, 34% 35% 34% Gen Ry Signal 38% 38 38 38 Lima Loco 13% Press Btl Car 2% Pullman 27% 27 27% 27Vs Westtngh Ar B 20% Westlngh Elec.. 49 45% 49 45% Rubbers— Firestone 16% Goodrich .. ... 9 9 Goodyear 34 34% Kelly Sprgfld 1% Lee Rubber 2% U S Rubber 10% 10V, 10% 10% Motors— Auburn 121% 117 121 117% Chrysler 17% 17 17% 17V, Graham Paige 2% 2'/a General Motors 31% 31% 31% 31 Hudson 12 11% 11% 11% Hupp 5% Mack 22% 22 22V, 22% Marmon 2% 2% Nash 21 20% 21 20% Packard 5% 5% 5% 5% Reo 5 4% 5 4% Studebakcr 13% 13 * 4 Yellow Truck .. 6% 6 6 6% Motor Access— Bendlx Aviation 20% 19% 20% 19% Borg Warner ... 16 15% 15% 15% Briggs 10 9% 9% 10 Budd Wheel 7% 7 7 7V, Eaton 10 % El Storage B 44% Houda 5% Motor Wheel 8% Sparks W 6 6V Stewart Warner BV, BV, Timken Roll 28% 28% 28V, 28%

Mining— Am Metals 7% 7% Am Smelt 26% 25% 25% 26 Am Zinc ... 4 4 Anaconda Cop.. 19% 19% 19% 19% Cal St Hecla 5% 5 Cal St Ariz 31 Cerro de Pasco.. 13 12% 13 13 Dome Mines ... 11% 11 Va 11% 11% Preport Texas 21 20% Granby Corp 10 10% Great Nor Ore 17 Howe Sound 16 16 Int Nickel 10*a 10% 10% 10% Inspiration 5 Kennecott Cop.. 14% 14% 14% 14% Magma Cop 11 11 Miami Copper 5 4% Nev Cons 6% 6% Texas Gul Sul .. 30% 30% 30% 30% U S Smelt 13% 13 Oil*— Amerada 16 Atl Refining.... 13% 13% 13% 13% Barnsdall 7 6% 7 7 Houston 7 7 Indian Refining 2 s * Ohio Oil 8% 8% 8% 8% Mex Seaboard 10% 10 s , Mid Conti 6% Pan-Amer (Bl 30 Phillips 6% 6% 6% 6% Pr Oil St Gas 8% 8% 8% 8% Pure Oil 6% 6% Richfield 1% Roval Dutch ... 17% 17% 17% 19 Shell Un 4% 4% 4% 4% Sinclair 8% 8 8 8 Skelly 5% Siandard of Cal 35% 35 35% 35*2 Standard of N J 35% 34% 35 35% Soc Vac 16'a 16% 16% 16*2 Texas Cos 21 20% 21 21 Union Oil 15% 15% 15% 15 Steels— Am Roll Mills 17% Bethlehem 36 35% 36 35% Byers A M.. . 23% 23', 23% 23% Colo Fuel 11% 11% Cruc Steel 36 38% Ludlum 9 Repub I & S.. 10 9% 9% 10 U S Steel 81% 80 80% 80% Vanadium . 22% 22*, 22% 22% Youngst S & T 29'/a Tobaccos— Am Sumatra ... ... 8 Am Tob Anew 100% 100 % Am Tob B new 103 102% 102% 102% Con Cigars 31% Lig & Mvers B 61*4 60% 60% 61% LorlUard 14% 14% 14% 14% Reynolds Tob 45% 45 Vs Tob Pr A 9 Tob Pr B 2% Utilities— Abitibi 3% Adams Exp 10% 10% 10% 10% Am For Pwr ... 20% 19% 19% 20% Am Pwr & Li 28% AT&T 153% 151% 152% 152% Col Gas &El .. 22% 22'/* 22*4 22% Com & Sou 6% 6% El Pwr & Li.... 32V* 31% 31% 31% Int! TANARUS& T 20V, 20% 20% 20V 4 Natl Pwr & Li.. 20V, 19% 20V, 19% No Amer Cos ... 56% 55% 55% 59% Pac Gas & El 40% Pub Ser N J 71% 70% 71% 70% So Cal Edison 38 Std G& El 53 V* 52% 53 54 United Corp ... 18% 18 18*% 18 Ut Pwr & L A 18% 17% 18 19 West Union 100% 99% 99% 102% Shipping— United Fruit 49%, Foods— Am Sug 48 Armour A 1% 1% Beechnut Pkg 20 Cal Pkg 24% Childs Cos 15 Coca Cola 135% 134% 135% 134% Corn Prod 54% 53% 54% 54% Crm Wheat 25% Cudahv Pkg 37% Cuban Am Sug 2% 2% Gen Foods .... 46% 45% 46 46% Grand Union 87% 87% 87% 13% Hershev 87% Jewel Tea 38 38 Kroger *. 27% 27 27 27 Nat Biscuit 47% 46% 47 46% Pillsburv 24V, 24 V* 24% 24% Puritv Baking 18% Safeway St 55 53V 55 54% Std Brands 17% 17V* 17% 17V, Drugs— Coty Inc 4% 4% 4% 5 Lambert Cos 69% 69% 69% 69 Lehn & Fink 24% 24% Industrials— Am Radiator... 10 9% 9% 9% Bush Term 20 20 Gen Asphalt 16 Lehigh Port 9 ’/a Otis Elev 30% 30% 30% 30V* Indus Chems— Allied Chem ‘ 98% 96 98% 97% Com Solv 13% 13% 13% 13% Union Carb 44% 43% 44% 44 U S Ind Alco 30% 30% Retail Stores— Assoc Drv Gds 17% 17% Gimbel Bros 4 4% Kresge S S 26% 26% 26% 26% Mav D Store 29 % Mont Ward .... 16% 15% 16V* 15% Penny J C 38% 38% 36% 38% Schulte Ret St 5

New York Bank Stocks

(Bv Thomson & McKinnon) —Sept. 15Bid. Ask. America 35 37 Bankers 75% 77% Brokolvn Trust 303 313 Central Hanover 183 187 Chase National 49 .-1 Chatham Phoenix Natl ... 46% 48% Chemical 39 41 City National 68 70 Com Exchange 88'/a 91 : /a Commercial 200 208 Continental 20% 22 3 4 Empire 38% 40% First National 3,060 3,160 Guaranty 399 404 Irving 25% 26% Manhatten & Company.... 49 51 Manufacturers 41 Va 43Va New York Trust 124 127 Public 33 35

rriCKtfts

S“**<j**G*S**GS*G Insert a two-letter word for each pair of dots above so.that, with the other letten. it will form a sensible phrase. '

Answer for Yesterday

The red block of three-inch sides can be cut into 27 one-inch cubes. Os these, 8 would be red on three sides, 12 on two > sides, 6 on one side and one would have U>’*d at ail d

Sears Roe 49% 48% 49 49% Woolworth .... 63% 61% 62% 61% Amusement,— Bruns Balke 6 Col Qraoh 5% 5% 5% 5% Crosley Radio 4% ... Eastman Kod ...127% 123% 127% 124% Fox Film A 11% 10% 11% 11% Grigsby Oru 2% 2% Loews Inc 46% 45% 46% 45% Param Fam 19% 18% 19% 19% Radio Corp .... 16*, 16 16% 16% R-K-O 13% 13% 13% 12% Schubert 9% 8% 9% 2% Warner Bros 9 Miscellaneous— Cltv Ice & Fu 29 29 Congoleum 12 Am Can 88% 86 s * 87% 86% Cont Can 45 44% 45 45% Curtiss Wr 2% 2* 1 2% 2% Gillette 8 R 14% 14% 14% 14% Real Btlk 6 Un Aircraft 22% 21% 22% 21% Inti Marv 30% 29% 30* 2 30% J I Case 48% 46% 47% 47%

The Same Story Is Told in Three American Wars

0 I I I I I | I | I —l ■[ r , r-pwcq * 1 1 1 acAtf 00 r - uTo 1812 primary " ' SECONDARY .20 "roST WAR poST WARpePRESsVoN depression .30—|Tf[-|--| ff _Jl6ls| [2O 25] II j 30} ] rrr ........_n_, 1., .. . CIVIL L 00 -j;; WAR ■'* PPIMARI ~~~ , SECOnD*Ryc! ejo POST WAR DEPRESSION DEPRESSIONJ -JO —| -40 _ J**! II 701 II 75| 80 rrIIIIIII 1 1 I j 1 1 M A WORLD I 00 Tm war 7 0 „o-p'CES _ I L ) PDST*Sa - - - ' nrpßrscinw POST WAR -aJ^i P i 1 111 DEPRESSION I £2O 25 30 35 This chart, prepared by Colonel Leonard Ayres, noted Cleveland economist, shows how the cycle of business and prices has been the same after all great wars and also depicts the history of the current depression.

Produce Market^

Eggs <country run)—Loss off delivered in Indianapolis. 12c: henerv quality No. 1. 18c: No. 2: 12c. Poultry (buying prices)—Hens weighing 5 lbs. or over. 18c; under 5 lbs.. 17c; Leghorn hens. 13c; 1930 broilers. full feathered 3Vi lbs. and up. 23c: under 21c: bareback. 12c; Leghorn broilers. 16c; spring chickens. 4 lbs. and over. 18c; under 4 lbs. .18c: old cocks. B@9c: ducks, full feathered. 9c: geese. 6c. These prices are for No. 1 top aualitv auoted by Kingan 6 Cos. Butter (wholesale) —No. 1. 34@35c; No. 2. 32@33c. Butterfat —29c. Cheese (wholesale selling price per pound)—American loaf. 23%c; pimento loaf. 25 3 4c; Wisconsin firsts, 19c: Longhorns. 19c; New York limberger. 30c. By United Press NEW YORK. Sept. 16.—PotatoesMarket. dull: Long Island, [email protected] barrel: New Jerseys. [email protected] basket. Sweet potatoes—Market, dull and weak: Jersey baskets. $101.25; Southern baskets, 50(5! 75c: Southern barrels. [email protected]. FlourMarket. auiet and firm: spring patents, [email protected]. Pork —Market, firm: mess. s2l. Lard—Market, firm: middle west spot, .077 <®.o7Bc. Tallow—Market, quiet: special to extras. ,02%@.02%c. Dressed poultry— Market, steady to firm: turkeys. 25@50c: chickens. 20@36c: broilers. 20@35c; fowls. 12(528c: ducks. Long Island. 14018 c. Live poultry—Market, quiet: geese. 13015 c; ducks. 13@24c; fowls. 16026 c; turkeys. 20 ©3Bc: roosters. 12@13c; chickens. 16@29e. Cheese —Market, auiet: state whole milk fancy to special. 15%@Z3%c; young America. i6%@l7c. By United Press CINCINNATI. 0.. Sept. 16.—Butter, steady; creamery in tub lots, according to score. 27029 c: common score discounted, 203 c: packing stock No. 1. 21c; No. 2. 18c; No. 3.12 c; butterfat. 25027 c. Eggs— Steady (cases included) extra firsts, 22c: firsts. 20c: seconds. 18c: nearby ungraded. 20c. Live poultry—Thin and coarse stock sell onlv at hteavv discount: fowls. 5 lbs. and over. 21c: 4 lbs. and over. 19c: 3 lbs. and over. 17c: Leghorns. 3 lbs. and over. 15c: roosters. 11c: broilers, colored. 1 lb. and over. 22c: 1% lbs. and over, 22c: 2 lbs. and over. 21c: fryers. 3 lbs. and over. 21c: partly feathered. 15c: Leghorn broilers. 1 lb. and over. 22c: 1% lbs. and over, 19c: 2 lbs. and over. 17c: black springers, 15c: roasting chickens. 4 lbs. and over, 21c. By United Press CHICAGO, Sept. 16.—Eggs—Market, unsettled; receipts, 6.747 cases: extra firsts, 21©21V'2C; firsts, 20%c: current receipts, 16019 c; seconds, 10©15%c. Butter—Market. unsettled; receipts. 5.493 tubs: extras. 31c'; extra firsts. 28%@29%c: firsts. 26© 27c; seconds. 23 025 c; standards, 28 3 4c. Poultry—Market, steady: receipts, 1 car; fowls, 16020 c; springers, 19@21c; Leghorns. 13%c; ducks, 14017 c; geese. 13c; turkeys, 17020 c; roosters, I2V2C: broilers, 2 lbs., 17®20c: Leghorn broilers, 16c. Cheese —Twins, 15V4©T5y2c; Young Americas, 15 3 .4(fi 16c. Potatoes—On track, 197; arrivals, 41; shipments, 545; market, firm to weak; Wisconsin Cobblers, 90c©$1; Minnesota Cobblers, 75095 c; Idaho Russets, $1.8002; Triumphs, $1.1001.35. By United Press CLEVELAND, Sept. 16. —Butter—Extras, 35c; standards. 32%c; market, steady. Eggs—Extras, 26'ic: firsts, 20c; ordinary firsts, 16c: market, steady. Poultry—Heavy fowls. 23©24c; medium. 22c; Leghorn, 15©' 18c: heavy broilers, 20© 23c; light broilers. 1501’9c: ducks, 12018 c; old cocks, 12V4C: market, steady. Potatoes —Ohio Cobblers. 75c per bushel sack; New Jersey Cobblers, mostly §1.90©2, few $2.10 per 150-lb. sack: Long Island Cobblers, mostly $2.10. few $2.15 per 150-lb. sack; Idaho Russet Burbanks, $2.1502.25 per 100-lb. sack.

Other Livestock By United Press PITTSBURGH, Sept. 16 Hogs—Receipts, 1,200; market slow, 35@45c lower: most 180-220 lbs., $6.15©6.25; top, $6.35; 230260 lbs., $5.7506.10; packing sows around $4.25 downward. Cattle —Receipts, 25; market slow indications lower: medium steers. $5.25© 6. Calves—Receipts. 100: market, steady; good and choice vealers mostly, $8.50© 10: common to medium grade. [email protected]. Sheep—Receipts, 800; lambs strong mostly 25c higher; bulk better grade, [email protected]: medium grade, $4.25® 5; aged stock steady. By United Press EAST BUFFALO. Sept. 16.—Hogs—On sale. 1.800: market, not fullv established: early bidding 15©25c under Tuesday's 35© 50c decline: scattered sales on 180-200 lbs.. $6.30©6.35: few $6.40: odd lots 150- lbs., selections. $6.15: bulk unsold. Cattle —Receipts. 250: plain grass steers predominating: nothing done on steers: bidding unevenly lower: cows, weak to 25c lower; cutter grades. $1.5002.75. Calves—Receipts. 200: nearby vealers, steady to 50c lower: good to choice. $10011: common and medium. $7.50@9: grassy vealers draggy. Sheep—Receipts. 400: lambs, slow, steady; good to choice ewes and wether lambs. $7.50 0 7.75: medium kinds and bucks. $6.25 @6.50: throwouts. $5.25: fat slaughter ewes. $1.5002,25. By United Press TOLEDO. Sept. 16.—Hogs—Receipts. 400; market. 250 40c lower: heavies. $5.25® 5.40: mediums. $5.50© 5.60: Yorkers. $5.75©6; pigs. $5.25 0 5.50. Cattle—Receipts. 450; market, steady. Calves—Receipts, light; market, steady. Sheep—Receipts, light: market, slow. Chicago Stocks Opening (By James T. Hamlll & Cos.) —Sept. 16Ass Tel Util... 21% Lib McNeil P... 8 Bendix Avia ... 20% Mid United com 15% Borg Warner .. 16 Mo Kan P Line 3% Cent So West.. 11% Middle West ... 10% Cord Corp 5% Natl Sec com .. 2% Cont Chi com.. 2% Natl Sec pfd .. 61 Cont Chi pfd ..30 !N 8t So Am (A) 39% Com Edison ..173%:Sbd Utilities.... 2N Chicago Sec ... B'a Swift &Cos 25% Grigsby Grunow 2% Swift Inti 32 Gt Lakes Aircft 4 jU S Rad & Tel 23% Houd Hersh iB) 5 Ut & Indu com 4 3 < InsuU com... . If*, Ut & Indu pfd.. 16% Insv.il pfd t"%[' Walgreen Strs.. 16% InsuU 6s '40.... 4 1

THE INDIANAPOLIS TIMES .

HOGS CONTINUE SHARP DECLINE AT STOCKYARDS Cattle Scarce and Lower; Veals Off 50 Cents; Sheep Steady. Porker prices continued to follow the sharp decline made Tuesday at the Union Stockyards this morning, prices after the opening moved off 35 to 40 cents under Tuesday’s market. The bulk, 160 to 300 pounds sold at $5.45 to $5.70. Early top held at $5.70. Receipts were estimated at 5,000, while holdovers numbered 1,179. There was hardly enough action in cattle to make a market, all bids were lower when obtainable at all. Receipts were 900. Vealers continued to follow the market to lower levels, with prices declining 50 cents, selling at $8.50 down. Receipts 600. Despite weakness in all the other markets at the stockyards this morning, sheep and lambs held to a steady trading range. Ewe and wether lambs were selling at $7 to $7.50, while bucks sold at $6 to $6.50. Receipts were quoted at 1,200. Chicago hogs receipts 17,000 including 1,000 direct. Holdovers 7,000. A few early bids were 10 to 15 cents lower than Tuesday’s average. Bid on 190-230-pound weights, $5.85 to $6. Cattle receipts 7,000 and calves 2,500, market strong. Sheep receipts 20,000 and steady. HOGS Sent. Bulk. Earlv Too. Receipts. 9. $6 40® 6.55 $6.55 5,500 10. 6.40® 6.55 6.55 5.000 11 6.45® 6 60 6.60 6.000 12. 6.25® 6.40 6.40 2.000 14. 6.25® 6.40 6.50 6.000 15. 5.85® 6.05 6.05 6.500 16. 5.45® 5.70 5.70 5,000 —Sept. 16Receipts, 5,000; market, lower. —Light Lights—-(l4o-160) Good and choice...s 5.25® 5.35 —Light Weights—-(l6o-1801 Good and choice.... 5.45 (180-200) Good and choice 5.50 —Medium Weights—--200-220) Medium and g00d.... 5.65 (200-250) Good and choice.... 5.65® 570 —Heavy Weights—-(2so-260) Good and choice.... 5.50® 5.65 (290-350) Medium and good.. 5.15® 5.50 —Packing Sows—-(27s-500) Medium and g00d... 3.25@ 4.75 (100-130) Slaughter pigs 5.15@ 5.25 CATTLE (Slaughter Class) Receipts. 900; market, lower. —Steers— Good and choice $ 7.50® 9.75 Common and medium 4.25® 750 (1.100-1.500) Good and choice 7.50® 9.75 Common and medium 5.25@ 7.50 —Heifers—-(soo-850) Good and choice 7.25® 9.50 Common and medium 4.00@ 7.25 —Cows— Good and choice 4.00@ 5.50 Medium 3.00® 4.00 Cull and common 1.50® 3.00 —Bulls- (yearlings excluded) — Good and choice beefs 3.50® 4.50 Cutter, common and medium.. 2.25@ 3.50 CALVES AND VEALERS Receipts. 600; market, lower. - Vealers — Good and choice $ B.oo® 8.50 Medium 6.00® 8 00 Cull and common 4.00® 6.00 Good and choice Common and medium 3.50® 6.00 STOCKERS AND FEEDER STEERS Good and choice 5.00® 6.75 Common and medium 3.50® 5.00 (800-1.500) „ Good and choice 5.00® 6.75 Common and medium 3.50@ 5.00 SHEEP AND LAMBS Receipts. 1,200; market, steady. Good and choice $ *>•22®’ 2'22 Common and medium .. 3.00® 6.00 Ewes, medium and choice 1.-§o@ 2.50 Cull and common 50® 1.00

Other Livestock By United Press CHICAGO. Sept. 16.—Hogs—Receipts. 17,000: including 3.000 direct; 10@15c below Tuesday; 190-230 lbs., $5.7506; top, $6.05; 204-300 lbs., $5.2505.90; 140-180 lbs.. $5.3505.75; pigs, $4.50 05; packing sows. $404.60; smooth lightweights. $4 75 @5; light lights. 140-160 lbs., good and choice. [email protected]: lightweights. 160-200 lbs., good and choice, $5.5006; medium weights. 200-250 lbs., good and choice. $5.7506.05; heavyweights. 250-350 lbs., good and choice. $5(<i5.90; packing sows, 275-500 lbs., medium and good. $3.90 05: slaughter pigs, 100-130 lbs . good and choice. [email protected]. Cattle—Receipts. 7,000; calves. 2,500; few loads fresh arrivals, fed steers and yearlings about steady on early rounds but undertone very, weak w lt , h prospects lower on liberal supply stale steers held f'om earlier in week: bidding lower on fat cows: other classes mostly steady but hardly enough down to make a market; shipping demand narrow; early top mixed yearlings. $9.25: weighty steers. $9: slaughter cattle and vealers: Steers. 600-900 lbs., good and choice. [email protected]; 900-1,100 lbs., good and choice. [email protected]; 1.100-1,300 lbs., good and choice. $709.50; 1,300-1,500 lbs., good and choice. $6.75® 9 25: 600-1.300 lbs , common and medium, $3.75 07: heifers. 550-850 lbs., good and choice. $709.25; common and medium. $3 @6; cows, good and choice. $3.7506.25: common and medium. $2.7503.75; low cutter and cutter cows, $1.500 2.75: bulls, yearlings excluded, good and choice, beef. $4.2505.50: cutter to medium. $3 04.25: vealers. milk fed. good and choice. $8 50 ©9.75: medium. [email protected]: cull and common. $4.5006.50: stacker and feeder cattle: Steers. 500-1.050 lbs., good and choice. [email protected]: common and medium. $3.50®5. Sheep—Receipts. 20.000: steady to unevenly lower; good to choice native lambs largely $6.25©6.50 to packers; outsiders. $6.85:' some held higher; westerns unsold: slaughter sheep and lambs: Lambs 90 lbs. down, good and choice, s6®7 35: medium, $4.75@6; all weights, common. [email protected]; ewes, 90-150 lbs., medium to choice. $lO 2.25: all weights, cull and common. 50c@ $1.50: feeding lambs, 50-75 lbs., good and choice. $5.2505.85. By United Press FT. WAYNE. Sept. 16.—Hogs. 250 40c lower: 100-140 lbs.. $5: 140-160 lbs.. $5.10; 160-180 lbs.. $5.20: 180-200 lbs.. $5.30; 200225 lbs.. $5.40: 225-250 lbs.. $5.50; 250-275 lbs. $5.40: 275-300 lbs.. $5.30: 300-350 ibs., $5.10; roughs. $3.75: stags. $2.50: calves. $8.50: lambs. $6. ~- By United Press EAST ST. LOUIS. 111.. Sept. 16.—Hogs— Receipts. 7.000; market, mostly 10c lower than Tuesday: pigs weak to 25c lower, too. $5.90: bulk. 170-240 lbs.. [email protected]: 270 lbs.. $5.60: 100-160 lbs.. $505.60; sows. [email protected]. Cattle—Receipts. 2.500. Calves —Receipts. 1.200: market, medium: bulls, steady: top. $3.75: vealers. 50c higher at $9: hot enough other classes on sale to make a market, although few cows sold steady; lower undertone on most classes. Sheep—Receipts. 2.500: market, no early sales: packers talking lower or around, $6.25: and below for desirable lambs. By United Press CINCINNATI. 0.. Sept. 16.—Hogs—Receipts. 2.600: heldover. 400: early trade. 15c to mostly 25c lower, late market at standstill: weights under 200 lbs., bid mostly 50c lower: better grade. 180-250-lb. averages mostly $6: some sorted. 200-250 lbs.. $6.10: a few. 130-160 lbs.. $5.50; 160-180 lbs.. $5.75: late bids. 130-150 lbs.. $5.25; 150-180 lbs.. $5.50: 180-200 lbs.. $5.75: sows, around 50c lower. mostly $4.50 down. Cattle —Receipts. 350: calves. 300: practically no good steers or heifers offered: market at standstill on common and medium; a few scattered lots. s4© 6: cows and bulls, steady: beef cows. $3.50©'4.50; low cutters and cutters. $2.2503.25: bulls. $4.25 down: vealers slow. 50c lower: good and choice, $8.50®9.50: lower grade mostly $8 down. Sheep—Receipts. 1.200: lambs. barely steady to weak: better grade scarce at $7 @7.50: common throw-nits. s4© 5: buc<c lambs. 55.5006: sheep, steady: fat ewes, mostly $1.50 down. By Times Special LOUISVILLE. Sept. 16.—Cattle—Receipts. 200: about steady: at week’s decline bulk best slaughter steers and heifers. [email protected]; common down to $3: best slaughter cows. $3.25@4; bulls. $3.50 down: Stockers and feeders. [email protected]. Calves—Receipts. 350: best vealers steady, others dull unevenly lower; top. $7.50: best throwouts. s4©s; culls. $4 down. Hogs—Receipts. 500 ; 25c lower: 175-240 lbs.. $5.65: 240-300 lbs.. $5.20: 300 lbs.. UP. $5.05: 130-175 lbs.. $4.95: 130 lbs. down. $4.45: packing sows. $2.3003.05: stags. $2.05 down. Sheep and lambs —Receipts. 500: steady: top fat lambs. $6.00; bucks. $5.50: outs. $2.5003.50: stock ewes. SSO 7 per head. Tuesday’s shipments— Cattle. 64: calves, none; hogs. 141; sheep. 112. By United Press CLEVELAND, Sept. 6—Hogs—Receipts. 1.200: holdover. 318; mostly 25©35c lower; 160-260 lbs. sorts. $6; sparingly. $6.10 on best weight selection, few around 300 ibs., $5.75; light lights and pigs, $5.50 down; rough sows, $4: stags, $3.50. Cattle—Receipts. 400: still an oversupply eu low grade steers: holdover offerings on largely a peddling basis; but more cattle moving than on Tuesday; early sales near steady; common to medium steers, 1,000 lbs. down. $506.25: few. $6.75; packing sold as low as $4; cows and bulls little change. Calves — Receipts, 600: good and choice vealers. steady; but lower grades dull: better grades. $10.50011: few, $11.50; medium. $8.5009.50 kind off a little; culls. s6©7 with low grade heavy calves downward to $4. Sheep—Receipts. 700: lambs mostly 25c lower. *7O 7.75: best held higher; cull to common throwouts, s4®s.

BELIEVE IT or NOT

, , ,"gr— S *" s ~- • - .... A George Washington iSfUSaA c pjfr HELD THE AMERICAN BROAD JUMP ' I' " RECORD FOR 720 YEARS | % - ovev the RpiPPAhannock) S " v 4 i=s Ike stone over the Built manv years aqo but in which services have NEVER been HELD/ -Cowichcn (Vancouver.B.C

Receiver Is Named for Federal Surety Firm

Company in Merger With Old Trails Fails in lowa. The Federal Surety Company of Davenport, la., which absorbed the Old Trails Insurance Company of Indianapolis through a merger last June, has been placed in the hands of a receiver. A receivership was ordered by a federal court in lowa on request of the attorney-general of lowa, who charged that liabilities of the Federal company were greater than its assets. State insurance commission officials here today stated that, following the merger of the two companies, policies issued by the Old Trails company automatically were taken over by the Federal firm, thus becoming liabilities of that firm. The Old Trails Company, dealing largely in automobile insurance, is one of the largest of its kind in the state. An official of the Old Trails Company, headquarters of which are in the Old Trails building, Washington street and Senate Avenue, said the receivership was “only a temporary matter, you understand,” and declared he had been informed the matter already was being cleared up in lowa. He could give no estimate of the number of policyholders Old Trails had in Indiana when the merger was formed in June.

YESTERDAY’S ANSWER IRIaInIsiaIsI iaMbiuisihJ PINEALHARQUSEPP assaTMagrisEMhe USEgIiPURES TWFAR perMmon I STBBPOLo E DoD E T E C TBbS I gEN RifSll R sjwUpßßjA K Eli A I C AjC QwA L N A 6 EBfN U Z ON EJBA T T TR EHL E T I RKmAST UITEIiPER I N EHjP|E TER SHCI |~ V I C 6BWET E N EBBV]A[L E T 5

HORIZONTAL 1 Newspaper paragraph t Veil worn by the pope. 10 Headgears. © 14 Large flightless bird. 15 Stair post. 1 fi Molndv 17 Ireland. 18 Snmmer dish. 19 Departed. 20 Colonist. 22 Divided by partition*. 24 Rodent. 26 Hurrah! 27 Mexican tribe rnnmif.rpd hv p 30 vestment. 32 Not general or widespread. 86 Rail (bird). 37 To lurk. 38 Part in a drama. 89 Pollutes. 41 Sailor. 42 Mass of cast metal.

43 Poem. 45 Distinctive theory. 47 Fought. 50 Tout. 54 Mormon state. 55 Bandmaster’s stick. 57 Parasitic insects. 58 Withered. 59 To expiate. 60 Supreme deity of the Norse mythology. 61 Oak. 62 To renovate. 63 Fuel found in Ireland.

I 12 13 14 15 16 17 18 9""I ““ I* >3" _ - i? 20 ‘ ““gMH""' 23 1 5 Wj ~ nr 39 ' ' ’“'l pojgyi: ggpT| 3T" 49 51 52 ~ - M 55 5e ~ 57 59 3T” 6{ fel ” 63 _A 16

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

CITY LETS CONTRACTS $35,272.50 Is Expended for Street Equipment. Contracts for the purchase of street department equipment, totaling $35,272.50, were let today by the city works board. Firms receiving the contracts: Service Truck Company, George Bailey Company, Martin Truck Company, McKinney & Maxwell Company, Charles H. Vass Company and Elgin Sweeper Company.

The City in Brief

THURSDAY EVENTS Advertising Club luncheon, Columbia Club. Indianapolis Engineering Society luncheon. Board of Trade. American Business Club luncheon. Columbia CltUt. Real Estate Board luncheon, Indianapolis Athletic Club. Sigma Nu luncheon. Lincoln. Sigma Chi luncheon. Board of Trade. Indiana League for the Hard of Hearing, 11 a. m., Stokes building. Harold Jackson, 15, Negro, 860 Torbet street, was shot in the hand accidentally Tuesday while playing with a revolver. Joe Henninger, who has been an art student in Europe for the last three and a half years, has returned to the home of his parents, Dr. and Mrs. J. B. Henninger, 1902 Ruckle street. He will stay in this country for about three months, looking after some portrait commissions here and in Chicago, and then return to Paris, where he has a studio.

12 Color. 13 To surfeit. 21 Varnisb Ingredient 23 Chum. 25 Pretense. 27 Onager. 28 One who worships animals. 29 Prefix meaning threefold. 30 To precede Ul time. Male voice between bass and tenor. 92 Toothed wheel. *34.Medical name for baldness. 35 To rent. 40 Sun. 42 Petty demon. 44 To preclude. 46 Muscular power. 47 Upper part ot human figure. 48 Net weight of container. 49 You. 51 To spill liquid. 62 Ebb and flow of the ocean. 53 money. 56 2,000 pounds.

VERTICAL 1 Certain day of Roman month. 2 Lacerated. 3 To prepare lor publication. 4 Chief city of Canada. . 5 Assault. 6 Back. 7 Shoemaker’s tool. 8 Meadows. 9 Senior. 10Ary tree of the genus Crataegus. 11 Surface measurement.

l- Registered U. S. y Patent Office RIPLEY

Following is the explanation of Ripley’s “Believe It Or Not” which appeared in Tuesday’s Times: The Violin of Matches—Mr. Robert L. Ratte, of 136 Cherry street, Springfield, Mass., in constructing a violin out of ordinary matches proved conclusively that they can be used in other striking manners. He conceived the idea as a part-time hobby, and for eight months he worked diligently gluing matches over a dummy form—his only equipment being a razor blade and a glue pot. Mr. Ratte’s accomplishment won him a prize in the recent Believe It cr Not radio contest, and to prove that the violin really produces music he played a selection on the air.

Thursday “The Man Who Preached for 58 Hours Continuously.” COTTON BILLS PENDING Texas Legislative Weighs Holiday Plan Against Acreage Cut. By United Press AUSTIN, Tex., Sept. 16.—Friends of Governor Huey Long’s cotton holiday pian worked desperately today to win support for the idea. Thus far, the Texas legislate e, summoned to work out some relief plan for the cotton industry, has been occupied listening to attacks on Long and his plan, or on Governor Ross Sterling of Texas, who opposes it. The house of representatives has eliminated all but two bills. One calls for a holiday in 1932 and the other for a two-thirds cut in acreage. The restriction bill was up today. NEW YORK COFFEE RANGE —Sept. 15High. Ldw. Close. March 5.38 5.35 5.35 May 5.47 July 5.60 5.57 5.57 September 4.85 5.84 4.83 December j 7.10

. TROrOSED DAM AND POWER PLANT OF THE EEL RIVER POWER CO. Height 155 feet 24.000 Horse Power Length 1,000 feet 150-Foot Working Head This dam when completed will create a lake and storage basin covering more than 10,000 acres, with 200' miles of shore line and will have a capacity of over 21 billion cubic feet of water. * All estimates of power output and other engineering problems involved have been carefully worked out by nationally known and capable Hydro-Electric engineers and this data is available in our office for any one interested in making an investment in this development. For full particulars concerning the development of this gigantic project, address , \ The American Utilities Development Corp. Clip the coupon and send It to the American Utilities Write In *2l Contlncatal Bank nine I Bldg.. IndlanapoUs. Ind.. and we will send you complete qj. | Sn ‘ or,natlon . on th development without any obligation. Phone name Riley I 8087 | ADDRESS . CITY

.SEPT. 16,1931

GRAIN FUTURES HOLD TO FIRM TRADINGRANGE Wheat Prices Move Higher; Corn, Oats Present Steady Tone.^ BY HAROLD E. RALNVILLE United Press Staff Correspondent CHICAGO. Sept. 16.—Wheat was firm and higher on the Board of Trade at the start today in the face of further weakness in stocks. Liverpool was steady with Russia withdrawing offerings. China was reported in the need of more wheat. Scattered buying revealed no serious pressure at the start and prices rose fractionally. The nearby months of corn were strong with wheat, but the deferred deliveries were weak, giving the pit an Irregular start. Oats followed corn, but the changes were very slight. At the opening wheat was unchanged to Vz cent higher, corn was % cent lower to V* cent higher and oats were % cent lower to % cent higher. Provisions were slow. Chicago Grain Range WHEAT— Prey _ . High. Low. 11:00. close. Sept 49% .49.49% .49% Dec • .51 s * .SO*. .51% .50% Mar 54’. .53% .54*. .53 % CORN— Sept 44% .44 .44% .43% Dec 39% .38'i .39% .38' . Mar 40% .40*2 .40% .40' l M 43,2 A2 ' t • 42 ’* • 42 ' 2 Sept 22% .32% Dec 24’2 .24 .24 % .24 M rye— 27 26 ' * • 28, ' • 26 " Sept 40 .39 5 , Dec .39% 427 ‘ • 42 - • SePt- 7.45 7.45 °ct 7.37 Dec 6 4 2 By Times Special CHICAGO. Sept. 16.—Carlots: Wheat. 32corn. 31; oats. 29; rye. 1. and barley. 6. ’

Local Wagon Wheat

Citv gram elevators are baying 40c for No. 2 red wheat and 39c for No. 2 hard wheat. PLAN POPE-DUCE /ISIT Arrangements for Parley Are Discussed at Vatican. By United Press VATICAN CITY, Sept. 16.—Arrangements for Premier Benito Mussolini’s forthcoming visit to the pope were discussed at Vatican conferences today. Long talks were held in the office of Cardinal Pacelli, papal sectary of state, between Pacelli, Father Tacchi Venturi and Monsignors Pizzardo anti Ottaviani, the latter two being assistant secretaries of state. Father Venturi has aetpd as liaison officer in recent negotiations with Rome. Later Monsignor Caccia Dominilorii, master of the papal household, joined the conference. Marriage Licenses Gerald E. Bennett, 24. of 37 West Twen-ty-first street. Ant, 509. assistant telechief- ar >d Ellen F. Manning. 22, of 2974 Paris avenue, file clerk. Edgar P. Richardson 28. of Detmit. educational secretary, and Constance Coleman. 26. of 4314 Central avenue, artists. Lowell C. Graham. 23. Norwood. 0.. store buyer, and Carolyn Warner. 22. of R. R 17. Box 83. secretary. Donald L. Watkins. 21. of 635 Temperance avenue, laborer, and Melzena Erniel Stewart. 19. of 1459 Saulcv street. Paul Elliott. 23. of 422 North Wolcott street, bookkeeper, and Helen Taylor 25, of 1853 Dexter avenue, cash clerk. Thomas Short. 30. of 224 Hiawatha driver, and Orpha Corya. 23. of 1677 West Riverside oarkwav, Henry H. Smith. 30. of 18*22 South Meridian street, press operator, and Violet M. Fox. 24. of 119 Berr vavenue. housemaid. Roy H. Lester. 22. 118 Park avenue, sandwich salesman, and Leola M. Thorpe. 20. ot 3741 Kenwood avenue, waitress. Odie Clark. 24. of 643 Martin street, laborer, and Marcell Mvers. 19. of 143i Hiatt street, houseworker. Alvin V. Snelling. 21. of Belmont. Mass., medical student, and Lela V. Waughtcl. 21. of 1055 Villa avenue. In the Air Weather conditions at 9 a. m.: South southwest wind, 6 miles an hour; temperature, 79; barometric pressure, 30.09 at sea level; ceiling, clear, unlimited; visibility, 10 miles; field, wet.

Specialists In Unlisted Securities. Edw. W. Zaiser Securities Corporation 411 Continental Bank Bldf. Riley 4043