Indianapolis Times, Volume 43, Number 148, Indianapolis, Marion County, 30 October 1931 — Page 26

PAGE 26

STOCK SHARES ! FEATURE FIRM PRICE ACTIONS :: Cheerful Reports Aid List in Holding Gains; Steel Up.

Average Stock Prices

*% A ' e , r *B* of thirty industrials for Thurs- •**. UP 14- Average of twenty *M*itf*i ’% 10 Average of twenty • .o 5 01 Average of forty ' bonds 83 92. off .18. BY ELMER C. WALZER United Press Financial Fditor NEW YORK, Oct. 30.—Despite small volume of business, the stock market maintained a firm tone through the first two hours of trading today. • The list opened higher and then moved ahead further. Profit-taking ..encountered near the end of the first hour was absorbed and the rise resumed later. Gains were not large, but the ease . of the rise and the ability to hold the advance impressed Wall Street. Sentiment in financial circles still j was divided although the group of ! . favorable items of the last few days | was having a good effect. Steel Future Bright The street was particularly impressed with the federal reserve board weekly statement which showed a decline of $24,000,000 in circulation of currency. This was taken to mean that confidence was returning and hoarding was coming to an end. The statement of the National Association of Manufacturers that recovery was slowly getting under way followed statements by the presidents of United States Steel and Bethlehem Steel corporation that the steel industry was looking up. Bethlehem, like United States Steel, declared its regular dividend on common stock out of surplus. A feature of the morning dealings was activity in Paramount-Publix. The Street heard various reports in connection with the rise. One was that the Paramount management was to be changed and another that it would be merged with Radio-Keith-Orpheum. The latter also was active, but the price moved down. Few Weak Spots Steel led the industrials; Lorillard the tobaccos; New York Central and Union Pacific the rails, and American Telephone the utilities. There were a few weak spots, one of which was Electric Power and Light, which declined more than a point on reports the company was considering issuance of rights to stockholders to purchase additional stock. The bond market moved up after a period of irregularity with railroad issues in demand. The latter were aided by reports the roads were negotiating with the brotherhoods to obtain wage reductions to tide them over in their present crisis. Liberty bonds rose on retention of the 3 per cent rediscount rate. Bank Clearings INDIANAPOLIS STATEMENT —Oct. 30— Clearings $2,136,000 Debits 4,714,000 CHICAGO STATEMENT —Oct. 30Clearings s*‘Hj92'2£S'!!2 Balances 4,000,000.00 TREASURY STATEMENT —Oct. 30Net bilances for Oct. 28. ..-$301,111,916.20 Expenditures 9,016.260.73 ' Customs rects. month to date 31,399,954,97 New York Bank Stocks (By Thomson 6c McKinnon! —Oct. 29 — Bid. As*. America 38% 40% Bankers 711* 73 * Brooklyn Trust 240 250 Central Hanover 161 los , Chase National 46% 48'a Chatham Phoenix Natl ... 31 33 Chemical 35% 3,% Citv National *>2 64 Corn Exchange 75 Commercial 1754 183 Fmnirp 32% 34% First National 2.300 2.400 Guaranty 336 342 Manhatten & Cos ;5Va 7’a Manufacturers 39 si pSbiic YOTk . Tru 8% New York Curb Market (Bv Thomson & McKinnon) —Oct. 30— 11:00; 11:00 Alum Cos of Am 79 ’Hudson Bav ... 2% Am Cvnamid .. 4Vint Pet 10U Am Gas <fc Elec. 43'* Mead Johnson... 55 Am Lt & Trac.. 26 IMidwest Ut 10% Am Sup Pwr. .. 6VNia Hud Pwr... 7% Braz Pwr & Lt. lOVPenroad 4% Can Marc I*a St Reels Paper 6 * Cent Sts Elec.. SVStd of Ind .... 20% Cities Serv ... 7 iUn Gas A 3*4 Cord . 6%! Un Lt & Pwr.. 11 Elec find & Sh JgVUt PwrJß 4’a Ford of Can... 12 ’* United Fndrs... 3 Ford of Eng ■.. 7V ___ Chicago Stocks Opening ;Bv James T. Hamill & Cos.) —Oct. 30— Bendix Avia.... 16JijInsull corn 10% Bore Warner .. 12% Insull pfd 42% Cent So Wst... 9'.’lnsull 6s '4O ... 52** Cord Coro 6% Middle West... 10% Cont Chi com.. 2* - Sbd Util 2% Cont Chi pfd.. 25 Swift &Cos .... 12 \ Com Edison ...140 U S Ra 6c Tel. 16% Cheo Sec 6Walgreen Strs.. 131. Houd Hersh A. 12%l Investment Trust Shares (Bv Gibson 6: Bernardl PRICES ARE TO 12 NOON C. S. T. —Oct. 30— Bid. Ask. Am Founders Corp com 1 % 1% Am & Gen Sec A 4 ... Am Inv Tr Shares Basic Industry Shares 4 Collateral Trustee Shares A 4% 5% Cumulative Trust Shares ... 4% 4% Diversified Trustee Shares A 9% ... Fixed Trust Oil Shares 3 Fixed Trust Shares A 9 Fundamental Trust Shares A 4% 4’* Fundamental Trust Shares B 4% 5 1 * Leaders of Industry A 4*2 ... Low Priced Shares 4% 4% Nation Wide Securities 3 7 a 4\ National Industries Shares.. 3*2 4 North American Trust Shares 3% 3% Selected American Shares .. 3 3' 2 Selected Cumulative Shares ... 7% 7 3 < Selected Income Shares 4% 4% Shawmut Bank Inv Trust... 2 2 5 Std Am Trust Shares 3% 4% Super Corp of Am Tr Sh.. 4% 4% Trustee Std Oil A 4'* ... Trustee Std OH B 4% 4% • Unified Service Trust Shar A 3% 3 s * U S Elec Light & Pow A... 20*2 22% Universal Trust Shares 3*2 4 MILES NEW PRESIDENT Elected by Indianapolis Home Builders at Annual Session. J. Harry Miles today succeeded A H. M. Graves as president of the Indianapolis Home Builders’ Association following the annual election at the Hotel Washington. Other officers named were Charles O. Grinslade, vice-president; Walter L. Stace, treasurer; Carl Lindemann. secretary, and Walter M. Evans. Frank F. Woolling and Clyde |d. Pike, directors.

New York Stocks

—Oct 30— 1 Railroad.*— Prev. i High. Low 11:00. Close, j Atchison 106*2 105 105 107'* Atl Coast Line 54 53'2 63 *2 55 j Balt & Ohio . 34’* 33*2 34 33 * | Chesa 6c Ohio 31 1 2 31 * • 31** 31 Chesa Corp 22’* 22 ; Chi Grt West 4>4 Chi N West 15 15 1 CRUiP 22 Del L6c W 34* 2 32% 34 32*2 Del Sc Hudson.. .. ... 96*2 Erie 12 12% Erie Ist pfd 18 Great Northern. 25 24'* 25 24*4 Illinois Central. 20% 20',* 20% l? 3 * Lou 6c Nash 31 M K 6c T B*4 7 7 4 7 7 7*/* Mo Pacidc 13% 13’,2 13 7 . 13'* Mo Pacific pfd 32 30% N Y Central 51% SCI* 51% 50*2 Nickel Plate 10 NY NH 6c H 39 38*2 38% 37% Nor Pacific . 22% 22 22* 2 22% Norfolk 6c West 135'* O 6c W 8% Pennsylvania 32 31*4 31 *4 31% Reading . .. 53 Seaboard Air L % So Pacific 49*5 48 * 48% 48*2 Southern Ry 16 1 a 15% 16 1 a 15 s * St Paul 32% St Paul pfd ... 5% s'* St L 6c 8 F B’, Texas 6c Pac 35 Union Pacific .105 103 101% 101 W Maryland ... 8 7% 7% 7% Equipments— Am Car 6c Fdv.. .. 17*4 Am Locomotive. .. ... ... 10% Am Steel Fd 10'* Am Airbrake S 21% 21% Gen Am Tank.. 46% 45'* 46% 44% General Elec .. 29% 29% 29% 29 Gen Ry Signal 30% 30 Press Stl Car 2% Pullman 25% 25 25% 25% Westlngh Air B 47 46 46% Westingh Elec .... ... ... 45% Rubbers— Goodrich .... ... 6% 6% Goodyear 23 22% 23 23 Kelly Sprgfld . . 2%. 2 2 2 Lee Rubber ... ... 2% U S Rubber 6% Motors— Auburn 122 121 122 119% Chrysler 15% 15% 15% 15% Graham Paige.. .. ... 2% 2% General Motors.. 25% 25% 25% 25% Hudson 10% 10 10 9% Hupp 4% 4% Mack 18% 19 Nash 18% Packard 5% 5 5% 5 Reo 4% Studebaker 12% 11% Motor Access— Bendix Aviation. 17 16% 16 s * 16% Borg Warner 12% 12% Briggs 10% 10% 10% 10% Budd Wheel 4% Eaton 9% El Storage B 35 Hayes Body 1% Houda 3% Stewart Warner. .. ... 6% 6% Timkin Roll ... 23 22% Mining— Am Metals .... 7%. 7% 7% 7% Am Smelt 24% 24% 24% 23% Am Zinc 3% 3% Anaconda Cop.. 15% 14% 14% ... Cal 6c Hecla 4% 4% Cerro de Pasco. 14% 14 14% 14*4 Dome Mines 9 9 Freeport Texas.. 20% 20% 20% 20'i Granby Corp 7% 8% C-reat Nor Ore 15 15 Int Nickel 9% 9 9% 9% Inspiration 5 5% Kennecott Cop 13% 12% 13% 13% Miami Copper 3% Nev Cons 6% 6% Texas Gul Sul. . 26% 26% 26% 26% U S Smelt 16 15% Oils— Amerada 141/2 Atl Refining. ... 12% 1214 12% 12% Barnsdall 6 5% Houston s'/2 Ohio Oil 7% 7% 7% 7% Mex Seaboard.. 81* 814 8% 7% Mid Conti 6* • 6% Pan-Amer (Bi 22% ... Phillips 6% 6 6% 6% Pr Oil 6c Gas... 6% Pure Oil 5% Royal Dutch 1714 Shell Un 4% 4'/* Simms Pt 5 Sinclair 7 6% 6% 0% Skelly 41* 4 Standard of Cal.. 33 32% 32% 31% Standard of N J 32% 32% 32% 32 Soc Vac 14% 14% 14% 14 Texas Cos 18% 18% 18% 18% Union Oil 1514 15 15% 1414 Steels— Am Roll Mills.. 13% 12% 13% 13 Bethlehem 25% 24% 25% 24 Byers A M 191* 18% 18% 18 Cruc Steel 2514 Midland 10 Newton 4 Repub I 6c S 7 6% U S Steel 66 65% 65% 65 Vanadium 181* 18% 18% 18% Youngst S 6c W 13% Yougst S 6c T. 21 Tobaccos— Am Sumatra .... ... ... 614 Am Tob A (new) 85% Am Tob B (new) 89 88 89 87 Con Cigars 22% Lig 6c Myers B 54% 53 Lorillard 14% 13% 14 13% Reynolds Tob ... 38% 38 38% 37%. Std Com Tob 2 Tob Pr A 8% Tob Pr B 2% 2% Utilities— Abitibi 2% 2% Adams Exp 9 9 Am For Pwr ... 15% 1514 15% 15% Am Pwr 6c Li... 19% 18% 18% 18% AT&T 136% 136% 136% 134% Col Gas & E 1... 21% 21% 21% 21 Com & Sou 5% 5% 514 5% El Pwr &Li 21% 20 20 21% Gen Gas A 2 7 /g 2% Inti T 6c T 17% 16% 16% 16% Natl Pwr & Li.. 17 16% 17 17 No Amer Cos ... 37Vi 36% 36% 36% Pac Gas 6c El 36 35 Pub Ser N J ... 61% 61% 61% 60% So Cal Edison 33 •Std G & El ... 38'4 38% 38% 37% Bnited Corp ... 14% 13% 13% 13% Ut Pwr 6c L A.. 12% 12% 12% 12% West Uinon ... 80 79 80 78 Shipping— Am Inti Corp ... ... BV4 N Y Ship ... 4% 4% No Gm Llovd .... ... ... 8% United Fruit .. 31% 30% 31% 31 Foods— Am Sug 40 V 4 42 Armour A 1% Beechnut Pkg 39*4 ... Cal Pkg 11 Can Dry 19% 19% 19% 18% Childs Cos 12% 13 Coca Cola 113% 113 113% 112% Cont Baking A .. 7 Corn Prod 45 % Cudahy Pkg 37% Gen Foods ... ... 35% Grand Union .. 9% 9% 9% 9% Hershev 85 Kroger 20’* 20 20 IPY* Nat Biscuit .... 46Vi 45% 46% 45% Pillsbury ... ... 24% Purity Bak 14% 14 Safeway St 50% 50 50Vi 48 Std Brands 15 Drugs— Cotyy Inc 4Vi Lambert Cos .... 57 56V4 57 56% Lehn 6c Fink 27 Industrials— Am Radiator .. 8 7% 8 7%

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Bush Term 15% Certainteed 3% Gen Asphalt 14% 14 Oti Elev . . 24'-. 24 IndoFChems— Allied Chem .... 84'* 83% 83 * 82 s , Com Solv ns, n% Union Curb . 35'* 34V *5 34% U S Ind Alco. ... 31% 30% 31% 30'* Retail Stores— Kjesge S S 21% 21 s * May D Store.. 26 25% Mont Ward . . . 12% 11% 11% 11% Penny J C 34 33% 33% 33 Schulte Ret St 4 Sears Roe 41% 41% 41% 41% Wool worth 55% 55 55% 54% Amusements— Bruns Balke 4% 4% Col Graph 5% Eastman Kod .106% 105% 106 104% Fox Film A 7% Grigsby Gru 2 2 Loews Inc 39% 38%e 39% 38% Param Fam . . 15% 14% 15% 14% Radio Corp 13% 13 13 13 R-K.-O 7 s * 7% 7% 7% Warner Bros ... 7 s * 6% 5% 7 Miscellaneous City Ice 6c Fu.. .. ... ... 28% Congoleun) 10% Am Can 81 s , 81 81% 80 Cont Can 37 * Curtiss Wr 2 2% Gillette SR. 14% 14% 147 k 14% Real Silk 3% Un Arcft 15% 15 15% 14% Int Harv 28% 28% 28'/* 27% J I Case 48% 48% 48% 47 s *

Indianapolis Stocks

—Oct. 29Bid. Ask American Cent Life Ins C 0... 1.000 Belt RR6c S Yds Cos com.. 28% 32% Belt R R 6: Yds Cos pfd ... 49% 54% Bobbs-Merrill Cos . io Central Ind Power Cos pfd 7% 64 70 Circle Theater Cos com 7%... Citizens Gas Cos com 10% ... 20 Citizens Gas Cos pfd 5% ... 94 100 Commonwealth Ln Cos pfd 7% 97 101 Commonwealth Loan Cos 8%.. 101 Hook Drug com Indiana Hotel Cos Clavpool... .105 Ind Hotel Cos pfd 6% 100 Indpls Gas com 6% 55% 60 Indpls Pwr 6c Lt Cos pfd 5%% 91 95 Indpls P Wei Ln Assn cm 8% 50 Indpls St Railway 1% Indpls Water Cos Dfd 5% 100 Pub Servos Ind 7% 68 70 Pub Servos Ind 6% 70 . . Metro Loan Cos 8% 101 No Ind Pub Serv Cos pfd 6%.. 80 85 No Ind P Serv Cos pfd 5%%.. 70 75 No Ind P Serv Cos pfd 7% 90 95 Progress 16% ... E. Rauh & S Fert Cos pfd 6% 47 Shareholders Invest Cos 9 Ter Haute Tr & LI Cos pfd 6% 90 Union Title Cos com 6% 10 Van Camp Prod Cos Ist pfd 95 Van Camp Prod Cos 2d pfd 8% ... 95 Backstay Welt Cos com 17 Ind Pipe Line Cos \. 8 9 Link Belt com 19 20 Lynch Glass Machine Cos com 12 13% Noblitt Sparks Industrials Inc 18 20 Perfect Circle Cos com .... 30 3'* Real Silk Hosiery Mills. Inc... 3 4 Real Silk Hosiery Mills D fd- 16 20 Standard Oil Cos (Indiana).. 20 21 Ross Gear 18 20 Notl Title 3% 4 J D Adams Manufacturing Cos.. 13% 15 BONDS Belt R R & Stkv Yds Cos 4s 90 Cent Ind Gas Cos ss. Central Ind Pr Cos pfd 90 Citizens Gas Cos 5s 94 Citizens Street Railroad 55.... 18 Home T & T of Ft. Wavne 6s 99 ... Indpls Power and Light Cos 5s 94% 95% Indiana Service 5s 61 62 Ind Railways & Light Cos 55.. 85 Indpls Gas Cos 5s 94 Indpls Street Rys 4s 9 Indpls Trac Terminal Cos 55... 45 50 Indpls Water Cos 5,%s ’53 97 Indpls Water Cos 5%s ’54 97 Indpls Union Rv 5s 95 Indpls Wa Cos Ist lien ref 55.. 90 Indpls Water Cos 4%s 91 Interstate Pub Serv Cos 4%5.. 81 82 Interstate Pub S Cos (B) 6%s 80 81 No Ind Pub Serv Cos 98 99 Terre H T & L 5s ' Net Changes By United Press NEW YORK. Oct. 29.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Up. off. American Can 80 ... % Amer 6c Foreign Power.... 15% % ... Amer Telephone 134% % ... Atchison 107% 2% ... Auburn 119% 1% ... Bethlehem Steel .. 24 % ... Case 47% ... V 4 Chrysler 15V* % ... Commonwealth & Southern 5V* ... % Du Pont 56% % ... Electric Power 21 Vi ... V* Fox Film (At 7% % ... General Electric 29 % ... General Motors 25% V, ... International Nickel 9% ... % International Telephone .. 16% % ... Loew’s. Inc 38'%, 1% ... Montgomery Ward 11% % ... N Y Central 50% 2% North American 36% V 4 ... Paramount 14 s * 1% Pennsylvania 31% 1% Radio 13 ... % Radio Keith 7% Vi Sears Roebuck 41 % 1/2 ... Standard Gas 37% ... % Standard Oil. N. J 32% % ... Texas Corp 18% ... % Union Carbide 34% % ... United Corporation 13% % ... U S Steel 65 % ... Vanadium 18% *4 ... Westinghouse Electric 45% % ... Woolworth 54% % ...

Local Wagon Wheat

Citv grain elevators are jiavlns 45c for No. 2 red wheat and 44c lor No. 2 hard wheat. 3 HELD TO U. S. JURY Liquor Suspects are Bound Over by Federal Commissioner. Three men facing charges of liquor law violation were bound over to the federal grand jury today following hearings before Federal Commissioner Fay W. Patrick. The men and the amount of bond fixed are Wallace Fenton, $2,500; Raymond Baker, West Terre Haute, $1,700, and Robert Hart, $2500.

THE INDIANAPOLIS TIMES

SWINE MARKET SELLS OFF ON WEAKJEMAND Cattle Trade Slow, Draggy, With Lower Undertone; Sheep Steady. Lessened demand provided the basis for a slight drop in hog prices this morning at the Union Stockyards, most classes declining 15 to 25 cents from Thursday’s average figures. The bulk, 180 to 350 pounds, sold for $4.75 to $5; early top holding at the latter price. Receipts were estimated at 6,000; holdovers were 587. • Cattle generally were slow and draggy with a weak undertone. Receipts were 400. Vealers held unchanged at $7.50 down. Calves—Receipts numbered 400. Sheep were steady with the bulk of lambs selling at $6 to $6.50. Chicago hog receipts 27,000, including 7,000 direct. Holdovers 9,000. Market opened slow, with few early bids and sales around 10 to 15 cents lower than Thursday’s average. Good to choice hogs weighing 260 pounds were bid $5 and best held above $5.10. Lighter weights from 150 to 160 pcundssold at $4.50 to $4.6Q. Cattle receipts 2,000; calves 700, market steady. Sheep receipts 15,000, market unchanged. HOGS Oct. Bulk. Early Top. Receipts. 23. $5.20® 5.50 $5.60 7,000 24. 5.20% 5.40 5.40 3.500 26. 5.10® 5.30 5.40 10.000 27. 5.00® 5.25 5.25 10.000 28. 4.90® 5.15 5.15 6,000 29. 4.90® 5.15 5.15 7.0C0 30. 4.75® 5.00 5.00 6,000 Receipts, 6,000; market, steady. (140-160) Good and choice. ..$ 4.50 —Light Lights—-(l6o-180) Good and choice 4.65 —Light Weights—-(lßo-200) Good and choice... 4.75 (200-220) Medium and good.. 4.80 —Medium Weights—-(22o-250) Good and choice.... 4.80® 4.90 (250-290) Medium and good.. 4.90® 5.00 —Heavy Weights—-(29o-350) Good and choice... 4.75® 5.00 —Packing Sows—-(3so-500) Medium and good.. 3.75® 4.50 (100-130! Slaughter pigs 4.00® 4.25 CATTLE (Slaughter Class) Receipts. 40ft; market, steady. —Steers— Good and choice $ 8.25®10.75 Common and medium 5.25® 8.25 (1,100-1,500) Good and choice 10.75 Common and medium 5.75® 8.00 —Heifers—-(soo-850) Good and choice 6.75® 9.25Common and medium 3.00® 6.75 —Cows— Good and choice 4.00® 5.00 Medium 2.75® 4.00 Cull and common 1.50® 2.75 —Bulls (yearlings excluded)— , Good and choice beefs 3.25® 4.25 Cutter, common and medium.. 2.00® 3.25 CALVES AND VEALERS Receipts, 400; market, steady. —Vealers— Good and choice $ 7.00® 7.50 Medium 5.00® 7.00 Cull and common 3.00® 5.00 —Calves— Good and choice 5.50® 7.00 Common and medium 3.00® 5.50 STOCKERS AND FEEDER STEERS Good and choice 5.00® 6.50 Common and medium 3.00® 5.00 (800-1.500) Good and choice 5.00® 6.50 Common and medium 3.00® 6.50 SHEEP AND LAMBS Receipts, 800; market, steady. Good and choice $ 6.00® 6.50 Common and medium 3.00® 6.00 Ewes, medium and choice.... 1.25® 2.25 Cull and common 50® 1.25 Other Livestock By United Press EAST ST. LOUIS. 111., Oct. 30.—Hogs— Receipts. 7,000; including 1,200 through and direct; market slow, a few earlv sales 180 lbs. up 10@15c lower than Thursday’s best time at $5.05; top, $5.10, paid sparingly; other classes setady; 90-150 lbs., $4.75®5. packing sows. [email protected]. Cattle—Receipts. 800; calves, receipts 500; market, receipts unusually light; not enough sters on sale to make a market; vealers 25c higher; good and choice kinds. $8; other classes unchanged, heifers. $4.50®6; cows. $2.75® 3.50; low cutters, $1.50@2; top medium bulls. $3.25. Sheep—Receipts, 800; market, slow: around 500 wool lambs and 700 local clipped lambs o nsale; no earlv sales to packers; indications around steady; a few small lots to city butchers steady at $5.75. By Times Special LOUISVILLE. Oct. 30.—Hogs—Receipts. 500: 15c lower; 175-240 lbs. $4.90; 240-300 lbs., $4.50; 300 lbs. up. $3.55: 175 lbs. down. $4.35; packing sows, $2.65®3.40; stags. $2.40. Cattle—Receipts, 200; steady with Thursday bulk; slaughter steers and heifers. ss®6: common down to $3; slaughter cows. $3.75 down; bulls, $3®3.50. Calves—Receipts. 300; 50c higher; best vealers. $6.50: medium. [email protected]; culls, $3 down. Sheep and lambs—Rece.pts. 200; steady: top fat lambs. $6: buck lambs, $5: throwouts. $3 down: fat ewes. $2 down. Thursday’s shipments—Cattle. 209; calves, 92: hogs, 198; sheep. 40. By Times Special FT. WAYNE, Ind.. Oct. 30.—Hogs—20® 25c lower: 100-120 lbs.. $4; 120-140 lbs.. $4.15; 140-160 lbs., $4.30: 160-180 lbs., $4.50: 180-200 lbs.. $4.60: 200-225 lbs.. $4.7u; 225-250 lbs.. $4.80: 250-300 lbs.. $4.90: 300350 lbs.. $4.75: roughs. $4; stags. $2.50: calves, $7.50: lambs. $5.25. By United Press LAFAYETTE. Ind.. Oct. 30.—Hogs—15® 30c off; 250-275 lbs.. $4.85; 275-300 lbs., $4.75; 300-325 lbs.. $4.60; 225-250 lbs.. $4.65; 200-225 lbs.. $4.55: 180-200 lbs., $4.45; 160-180 lbs.. $4.35: 140-160 lbs.. $4.15; 120140 lbs.. $3.90: 100-120 lbs.. $3.75; roughs, $4 down; top calves. $6.50: top lambs, $5. By United Press CINCINNATI. 0.. Oct. 30.—Hogs—Receipts, 3,700; heldover. 670 slow; mostly 15c lower on better grade: 180 to 260 lbs. at $5.25: heavier weights scarce, lighter weights steady to 15c lower; spots. 25c off: 140 to 180 pounds. $4.75@5; sows weak to 25c lower at $3.75 to mostly $4; light weights. $4.65. Cattle—Receipts, 525; slow; peddling trade on all classes; practically nothing doing on steers: odd lots common to medium steers and heifers, s4@6; a few better finished kinds upward to $7.25: cows weak to 25c lower: mostly $3.25® 3.50; bulk low cutters and cutters. $1.50® 2.75: bulls, [email protected]; a few $3.75@4; vealers mostly steady; good and choice fairly active at s7(ffß; lower grades draggy at $6.50 down. Sheep—Receipts. 350: lambs fairlv active: steady to strong better grade ewe and wether lambs mostly $6®6.25; best considered salable around $5.50: common tc medium, $4®5.50: skips down to $3: fat ewes mostly $1.50 down.

Births Girls Harry and Helen Overtree. 3037 Bellefontaine. James and Marv Woodcock. 1438 South Illinois. Gerry and Bertha Spragg. 1121 West Eighteenth. Paul and Martha Wilhelm, 1047 St. Paul. George and Catherine Linder. 236 Cumberland. James and Minnie O'Hare. 4402 Bertha. Harley and Betty Patrick. Coleman hospital. Harrv and Thelma Whaley. Coleman hospital. Paul and Amelia Hedge, Coleman hospital. Boys Cornelius and Josephine Haugh, 1322 South Talbot. Joseph and Katherine Gibbons. 4181 Ruckle. Charles and Essie Brier, 1623 Brier place. Frederick and Olive Romine, 1615 Williams. James and Daisy Skinner. 2046 Parker. Delmer and Ava Earl, Coleman hospital. Deaths Charles Galbraith. 45. St. Vincent’s hospital, myocarditis. John G. Trefz. 67, 911 South Randolph, chronic myocarditis. Sarah Elizabeth Quigley. 71. 715 North Pershing, myocarditis. Nannie H. Waltz. 75. 1218 South Sheffield. chronic myocarditis. Carrie L. Ray. 78. 1626 South Randolph, hypostatic pneumonia. Marv E. Steele. 71. 1017 East Raymond, carcinoma. Meet the “St. Louis Lily” By Unit, a Press UT. LOUIS, Oct. 30—Now there is the “St. Louis lily.” Shaw’s Garden, internationally known botanical center, nas announced cultivation of the new hybrid from seed of the “lost yellow lily” of Africa, the white garden hybrid and the Mrs. G. H. Priag,

Bright Spots of Business

By United Press NEW YOORK. Oct. 30.—Not - only has the bottom of the business depression bern reached .but recovery is under wav gradually. the annual trade survey of the National Association of Manufacturers raid. PHILADELPHIA—United Gas Improvement Company reported balance available for common stock for the vear ended Sept. 30 totaled 534.666.766. against $34,500,016* for the preceding vear. ROANOKE. Va.—Norfolk and Western Railway will build ten ne w2’t.OOO Gallon rnginee tenders and make extensive repairs to 500 steel coal cars at the shops here. NEW YORK—American Machine and Metals. Inc., reported for the Quarter ended Sept. 30'. netproflt of $1,509. against a net loss of $169,191 in the third auarter of 1930. % BALTIMORE—Net income of the Consolidated Gas. Electric Light and Power Company ol Baltimore for the nine months ended Sept .30 was *5.263.794. against $5,246,200 in the first nine months of 1930. WASHINGTON—Lumber orders were 1 per cen tabove the cut during the week ended Oct. 24. according to the National Lumber Manufacturers Association. NEW YORK—Sidney Bluemental & Cos., Inc., reported for the auarter ended Sept. 30. net profit of *242.596. against *142.180 in the third Quarter of 1930.

The City in Brief

SATURDAY EVENTS Beta Theta Pi., luncheon, Board of Trade. Sigma Alpha Epsilon, luncheon, Chamber of Commerce. Alliance Francaise, luncheon, Washington. Week-end overnight hikes to the Boy Scout reservation are scheduled for troops No. 87 and No. 47. Lester Whitaker is scoutmaster of troop No. 47 and the Rev. Lawrence Fugit, pastor of Bible Christian church, is scoutmaster of troop No. 87. Fraternity alumni and Indianapolis newspaper men will attend the eighth semi-annual dinner meeting of the local alumni chapter, Sigma Delta Chi, national professional journalistic fraternity, at the Columbia Club, Wednesday night, Nov. 11. Democrats of the city have been invited to a Halloween dance and frolic at Municipal Gardens tonight under auspices of the Wayne Township Democratic Social Club. Prizes will be awarded and an elaborate program of entertainment has been arranged. Discussion of proposed model registration laws for professional engineers will be held at a noon luncheon Monday of the Scientech Club of Indianapolis, Inc., in the Architects and Builders building, Pennsylvania and Vermont streets. Dr. David M. Edwards, former president of Earlham college, Richmond, will speak on “Progress Toward Peace” at the monthly session of the Indianapolis Federation of Community Civic Clubs at 8 tonight in the Chamber of Commerce. Paul C. Stetson, superintendent of public schools, was in Cincinnati today, where he will address the southwestern teachers’ conference. In the Cotton Markets (Bv Thomson & McKinnon) NEW YORK, Oct. 29.—The cotton market was easy in tone on the opening this morning for a few minutes only. Liverpool began to buy and a steady stream of small buying orders from that source continued throughout the first hour. New Orleans was also a pronounced buyer here. Local traders were sellers on balance and the south sold sparingly at the beginning but was doing very little in the middle of the day. Sentiment on the floor of the exchange is equally divided perhaps. It is obvious however, that the south is far from being an anxious seller. We advise a conservative position on the long side with additional purchases undertaken only on reactions. CHICAGO —Oct. 29High. Low. Close. January 6.87 6.73 6.76 March 7.00 6.88 6.90 May 7.20 7.07 7.09 July 7.38 7.25 7 25 December 6.79 ~6.65 6.70 NEW YORK High. Low. Close. January 6.77 6.61 6.66 March 6.91 6.73 6.79 May 7.10 6.96 6.99 July 7.28 7.17 7.17 December 6.70 6.55 6.60 NEGROES GIVEN TERMS Three Are Sentenced to State Farm for Coal Thefts. Three Negroes convicted of stealing coal from cars at the Nickel Plate railroad freight yards today were sentenced to serve terms at the state farm. Leonard Wolsy, 1518 Lewis street, was given a sixty-day sentence and fined $1 and costs by Judge William H. Sheaffer. Clarence Woods, 1712 Yandes street, and Rolt Hurt, 1139 West Fifteenth street, companions of Wolsey, each were given a thirty-day sentence and fined $5 and costs by judge Clifton R. Cameron.

STICKERS I. WOLF *2 • • • • 3. LION 4 •• • • 5. LYNX In the word “WOLF ’ there are two letters (0, L) which appear in “LION.” By changing one letter in “WOLF’ a new word will be formed in Step 2. By changing another letter the word “LION” will be formed. In the same way “LION” may be changed to anew word for Step 4 and then to “LYNX.” Can you supply the words needed for Step 2 and 4? Answer for Yesterday ACTS EAR STEP. CATS ARE PETS. STAP ERA STEPS. RATS ARE PESTS. The above shows how the letters of the sentences “acts ear step” and “star era steps” were switched around to make two correct sentences. . so

WHEAT SCORES SMALL UPTURN iN DULL TRADE Firm Undertone Overcomes Early Profit-Taking in Futures. BY HAROLD E. RAINVILLE United Press Staff Correspondent CHIC/jPO. Oct. 30.—Scattered buying on the strength at Liverpool gave wheat a fractional advance as the Board of Trade opened today. There was very strong undertone which more than offset another smattering of profit-taking sales. A higher stock market had little influence but was encouraging. Liverpool made a sharp reversal oi trend on the light offerings and lower exchange. Com was strong with wheat and kept pace with that grain. Oats were easy and under light pressure. At the opening wheat was T 4 to 1 3 cent higher, corn was % to 6 cent higher and oats were unchanged to H cent lower. Provisions were slow and steady. Chicago Grain Range —Oct. 30WHEAT— Prev. „ High. Low. 11:00 close. December 57% .57% .57% 57 s * March .61% .61 .61% 61% May 62% .62% .62% .62% July .63% .63 .63% .62% CORN— December ... .40% .39% .3&% ,39 s * March 42 s * .42% .42% .42% May 45 .44% ,44 s * .44% July 46% .46 .46% ,45 s * OATS— December 23% 24% March 26% May 27% .27 .27 27% July 27 .26’ b .26% .27% RYE— December .... 42% .42% .42% .42 May 47% .47% .47% 47 LARD— October 7.90 7.85 7.90 7.82 December ... 6.15 6.15 January 5.97 6.00 By Times Special CHICAGO. Oct. 30.—Carlots: Wheat. 63; corn. 139; oats, 25; rye. 4, and barley. 13. By Times Special CHICAGO. Oct. 29.—Primary receipts: Wheat. 998.000 against 936.000: corn. 339,000 against 492:000: oats. 154.000 against 269.000. Shipments—Wheat. 1.268.000 against 924.000: corn. 366.000 against 318.000: oats. 83.000 against 193.000.

Cash Grain

—Oct. 29 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: Wheat—Firm: No. 1 red. 45®46c; No. 2 red. 44@45c: No 2 hard. 43®44c. Corn—Firm: No. 3 white. 33®34c: No. 4 white. 31®32c; No. 3 yellow. 30@3ic: No. 4 yellow. 28@29c: No. 3 mixed. 29®30c: No. 4 mixed. 28@29c. Oats—Firm: No. 2_white. 20%@21%c: No. 3 white. 19%®2(T/2C. Hav —Steady; (F. o. b. country points taking 23%c or less rates to Cincinnati or Louisville.) No. 1 timothy. $2®2.50: No. 2 timothy. $6®6.50. —lnspections Wheat—No. 2 red. 7 cars: No. 3 red 2 cars: No. 2 hard. 1 car. Total, 10 cars. Corn—(New) No. 2 white. 1 car: No. 3 white. 2 cars: No. 4 white. 2 cars: samp:e white, l car; No. 2 yellow. 6 cars; No. 3 yellow. 15 cars: No. 4 vellow. 8 cars; No. 5 yellow. 3 cars: sample yellow-. 1 car; No. 4 mixed. 1 car. Total. 40 cars. Oats —No. 2 white. 3 cars; No. 3 white. 19 cars: No. 4 white. 1 car. Total. 23 cars. By United Press CHICAGO. Oct. 29.—Cash grain close: Wheat—No. 2 red. 59%c: No. 3 red. 58c: No. 1 hard. 61c: No. 4 vellow hard. 57c: No. 2 mixed. 61c: No. 3 mixed. 55c. Corn —No. 1 mixed. 37c: No. 1 mixed, old. 41c: No. 2 vellow. 39%@40%c: No. 1 vellow. old. 42@42%c: No. 3 vellow. 37%®39c: No. 3 vellow. old. 41 %c; No. 4 vellow. "6%® 37%c: No. 4 vellow. old. 41c: No. 5 vellow. 35% ®36c: No. 5 vellow. old. 40c; No. 2 white. 41c: No. 2 white, old. 42%>c: No. 3 white. 39@39%c: No. 4 white. 36%®37'/ 2 c: No. 6 white. 35c: sample grade. 32c. Oats —No. 2 white. 25%@25%c: No. 3 white. 24 ®2sc. Rve —No. 2. 50y2@51c. Bariev—4o @s6c. Timothy—[email protected]. Clover —$10.75® 14.25. By United Press TOLEDO. 0.. Oct. 29. —Cash grain close: Elevator prices—Wheat—No .2 red. 59%® 60 %c. Corn—No. 2 vellow. 45%®46%. Oats—No. 2 white. 28%®29%c: old oats, premium. 3 to 4 cents. Rve—No. 2. 48c. Grain on track. 28% cents rate: Wheat— No. 2 red. 54%@55c: No. 1 red. 1 cent premium. Corn—No. 2 vellow. 39%®41c: No. 3 vellow. 37 V2®39%c. Oats—No. 2 white. 25%©27c: No. 3 white. 24@26c: old oats, premium, 3 to 4c. Clover—Prime. $8: October. $8: December. $8.25; February, $8.50. Alsike —Cash. $7.75: December. $8: February. $8.25. Butter—Fancy creamery. 32®33c. Eggs—Current receipts. 28@32c. Hav —Timothy, per cwt. SI.OO.

Produce Markets

Eggs (country run)—Loss off delivered in Indianapolis. 18c: henerv aualitv No. 1. 21c; No. 2. 12c. Poultry (buying prices)—Hens weighing 5 lbs. or over. 16c; under 5 lbs.. 15c; Leghorn hens. 12c: broilers, full feathered. 3%s lbs. and up. 14c: bareback. 11c: Leghorn broilers. 12c: spring chickens. 4% lbs. and up. 14c: under. 14c; old cocks. B®9c: ducks, full feathered. 9c: geese. 6c. These prices are for No 1 top aualitv auoted bv Kingan & Cos. Butter (wholesale)—No. 1. 33®34c: No 2. 31@32c Butterfat —30c. Cheese (wholesale selling price per pound)—American loaf. 23%c; pimento loaf. 25%c: Wisconsin firsts. 19c: Longhorns. 19c: New York limbeiger. 30c. By United Press NEW YORK. Oct. 30.—Potatoes—Market. steady: Long Island. 75c@$2 barrel; Maine. $1.40®1.85 barrel. Idaho. *2.10® 2.35 sack. Sweet potatoes—Market, weak; jersey baskets, $1.50®1.75; southern baskets, 40®65c; southern barrels, $1.25. Flour—Market, firm; spring patents. $4.65 ®4.95 barrel. Dressed poultry—Market, firm, turkeys. 20@37c; chickens, 17@30c; broilers. 17®33c; fowls, 10®23c. ducks. Long Island. 18®19c. Live poultry—Market. dull: geese. 12®15c; ducks, 13®23c; fowls. 17® 26c: turkeys, 20@25c: roosters, 16®17c; chickens. 15®28c: broilers. 21® 28c. capons. 20@287. Cheese—Market, steady: state whole milk, fancy to special. 14® 18c; young Americas, fresh, 15 %@ 15 %c. By United Press CHICAGO. Oct. 30.—Eggs—Market, firm; receipts, 1,829 cases; extra firsts, 26®27c; firsts, 25c: current receipts. 20®24c: seconds, 12®17c. Butter—Market, steady; receipts 8.293 tubs: extras. 29%c: extra firsts, 26®27c; seconds. 24®25c; standards. 28 %c—Poultry market about steady; receipts. 1 car; fowls. 14%®18%c; springers. 15%@16%c: Leghorns, 12%c; ducks. 12@16c; geese, 13c; turkeys, 17@20c; roosters 12c; broilers, 2 lbs., 14c; broilers, under 2 lbs., 14c; Leghorn broilers. 14%c. Cheese —Twins. 14%®14%c; Young Americas, 14%@14%c. Potatoes—On track 247; arrivals. 88: shipments. 724: market, steady; Wisconsin whites. 70@90c; Minnesota and North Dakota cobblers, 80®85c; Red River Ohios. 80®95c; Idaho Russets. $1.25®1.40. New York Liberty Bonds —Oct. 29 3%s 98.20 Ist 4%s 100.30 4th 4>/*s 100.31 Treasury 4%s 104.6 Treasury 4s 100.31 Treasury 3%s 98.28 Treasury 3%s of ’47 96.8 Treasury 3%s of '43 (March) 96.15 MARATHON DANCE AND POLE SITTING IN ONE Girls Shuffle to and Fro on Tiny Platform 50 Feet Up. By United Press TEXARKANA, Tex., Oct. 30. A new wrinkle in cross between flagpole sitting and endurance dancing—was in progress here today. On a platform thirty-five inches square, perched atop a fifty-pole on the roof of a hotel, Betty and Babe Fox shuffled to and fro. They had been at it more than thirtysix hours and shouted to spectators belc / that they hoped to set a record of “at least 100 hours.” Winter winds failed to daunt them. They were clothed in leather ja Yets and refreshed themselves from a thermos bottle of coffee, hoisted up to their perch on a rope. The ground crew consists of Bennie Fox, their brother and manager.

Dow-Jones Summary

St. Louis * Southwestern Railway system In nine months ended Sept. 30. net loss *424.695 after taxes and charges, against loss of *198.867 ln first nine months of 1930. September income *9.698. against net loss *143,178 in September, 1930. United Gas Improvement in twelve months ended Sept. 30, net income *38.103.633, or 51.49 on 53.23t.424 common shares, against $37,013,021. or *1.49 on 23,080.828 common shares in previons twelve months. September qnarter 33 cents, against 35 cents in previous qnarter and 35 cents in September, 1930 quarter. New York Dock quarter ended Sept. 30. net income *166.947 alter taxes and charges, against *171.871 in September quarter of 1930. Nine months *419.481 against *522.214. Pacific Gas and Electric in nine months ended Sept. 30. net profit $18,697,425, or $2.09 on 6,056.613 average common shares, against $18,159,296. or $2.19 on 5.654.060 average common shares in like 1930 period. National Tea in nine months ended Sept. 30 earned 64 cents a common share, against $1.05 in like 1930 period. September quarter 12 cents, against 24 cents in previous auarter and 30 cents in September. 1930. quarter. Pacific Lighting in twelve months ended Sept. 30 earned $4.11 a common share, against $4.25 in previous twelve months. Ward Baking in forty-two weeks ended Oct. 17 earned $1.72 a class A share, against 31 cents in previous quarter and 46 cents in September. 1930, quarter. Nine months 98 cents, against $1.30 in like 1930 quarter. United Aircraft and Transport in September quarter earned 27 cents a common share, against 31 cents in previous quarter and 46 cents in September. 1930. Quarter. Nine months 89 cents, against 51.20 in like 1930 period. Pierce Petroleum Corporation September net loss 58.474 after expenses. Net profit in nine months ended Sept. 30. amounted to 5271,966, eaual to 11 cents a share on 2.500,000 no par shares of capital stock. Hamilton Watch Company omitted a quarterly dividend of 15 cents in common stock, due at this time. Declared the regular auarterlv dividend of $1.50 on preferred stock, payable Dec. 1, of record Nov. 10. Wilcox Rich Corporation, subsidiary of Eaton Axle and Spring Company reports for auarter ended Sqpt. 30, 1931. loss of 518,315 after taxes and dividend requirements on the class A shares. This compares with loss of 58.593 for like 1930 period. Central Power Company reports for auarter ended Sept. 30. 1931 profit oefore depreciation amounted to $86,634 against 584.565 last vear. Twelve months profit before depreciation was $353,351 against $339,127.

GANDHI INVITED TO KING'S FETE Indian Leader May Go to Palace in Loin Clqth. By United Press LONDON, Oct. 30.—The Mahatma M. K. Gandhi received a royal command today to attend a tea party at Buckingham palace. The leader in the fight for Indian independence intends to go, probably wearing his loin cloth. The invitation read: “The Lord Chamberlain is commanded by the king emperor and the queen empress to invite Mr. M. K. Gandhi to an afternoon party on Thursday, Nov. 5, at 4 p. m., at Buckingham palace. An answer is requested to the Lord Chamberlain.” In the lower right hand corner is inscribed: “Morning dress.” To Gandhi morning dress means a shawl, sandals and dhotie ,or loin cloth, and it was disclosed he intends to dress that way. The party is for all members of the round table conference on India. JAIL WILL SUSPECT Robert Hackney Gives Self Up to Police. Robert Hackney. 3750 North Capitol avenue, one of five persons indicted for elleged fraud in the preparation of a purported will left by the late Bartholomew D. Brooks, west side business man, surrendered to police today and was being held in default of $25,000 bond. The Brooks estate, valued at $250,000, recently was the center of a probate court fight, which ended when a jury held a 1920 will left by Brooks as valid. Hackney and four other persons under indictment, are alleged to have produced a will drawn several days before Brooks’ death in June. In the Air Weather conditions at 9 a. m.: West wind, twelve miles an hour; temperature, 42; barometric pressure, 29.77 at sea level; ceiling, overcast, estimated, 1,000 feet; visibility, twelve miles; field, wet. Arrivals and Departures Municipal Airport Transcontinental & Western Air, Inc.; H. B. Burchinal and E. C. Chapman, to St. Louis, and E. R. Cutting, to Kansas City. American Airways: Samuel Hoffman, O. Getz, G. J. Leahy, E. Wallace and G. J. Gordon, homebound to Chicago, and Harrison King, pilot on American Airways between Memphis, Tenn., and Ft. Worth, Tex., and Carl R. Anderson, traffic manager of the Embry-Riddle division, to Cincinnati. John Franklin, Monocoupe, Columbus, 0., to St. Louis; Eric W. Wood, Bellanca, New York to St. Louis, and John Porter, Laird, Chicago to Evansville. The westbound T. & W. A. pas-senger-mail plane was delayed in Columbus, 0., this morning by muggy weather, and local officials had no information on whether the eastbound plane would fly. Embry-Riddle officials said the Chicago-bound plane was coming through, but could not predict whether the southbound plane would be on schedule. Hoosier Airports—Frank Reiss, in his Waco J-5, piloted by D. K. Smith, made the round trip from Sturgis, Mich. BEATS ‘TOW-IN’ BY $26 Former City Judge Is Paid Off to Avoid Suit for Damages. Thomas C. Whalen, former cit. judge, is $26 “up” on the city towin ordinance and its enforcers. He said his car was impounded several days ago and the rear of it was damaged when truck two-lines snapped. Whalen said he paid $1 to regain possession of the automobile, and threatened to sue for $27 damages which the garage paid today to avoid suit.

OCT. 30, 1931

VAN SWERINCEN INTERESTS PLAN NEW FINANCING Cash and Common Stock Is Offered in Trade to Note Holders. By United Press CLEVELAND, Oct. 30,-The Van Sweringen Corporation, holding company of the Van Sweringer brothers’ powerful local interests, presented the proposition to note holders today to exchange SSCO cash and twenty shares of common stock for each SI,OOO note. Financial circles predicted the offer would find speedy acceptance. The proposal, designed to acquire up to $15,000,000 of the corporation’s ‘ $30,000,000 gold notes of 1935, drawing 6 per cent interest, was approved by directors last night. When the notes were issued, securities having a market value of $15,000,000 were put up as “segregated assets.” Shrinkage in the securities value was to be covered with marketable securities having a face value of 50 per cent of the notes outstanding. Revision Necessary The original securities were composed of 500.000 shares of Allegheny common stock, which at the time had a market value of S3O a share. They have sagged to a present quotation of $4, necessitating some readjustment. Stock in the Allegheny corporation, the Van Sweringen Railroad Holding Company, was secured from General Securities Corporation. another Van Sweringen company recently dissolved, in exchange for 620.000 shares of the common stock of the Van Sweringen Corporation. , The present value of segregated assets in the latter concern is $13,440,581. composed of cash and government securities quoted at market values, a statement said. The proposal, which expires Dec. 1. provides that all common stock offergd as part payment for the notes will be issued from 1,744.800 shares of common stock outstanding, all held by Van Sweringen companies. Sell Large Holdings Directors said it was believed such an exchange would be “mutually beneficial to note holders and to the corporation alike.” Although it was not stated where the cash in the transaction had been secured, it was rumored the Van Sweringens had disposed of large holdings in the St. Louis & Southwestern railroad to finance the project. The Van Sweringen Corporation reputedly controls the Shaker company, rich suburban development enterprise in Shaker Heights; the Terminals Building Company, the Cleveland Terminals Building Company, the Terminals Hotel Company. the Building Arts Company, and the Huron Fourth Company. These concerns own the Union Terminal and adjoining business property.

LOUVRE TO BE X-RAYED FOR FALSE PAINTINGS Specialists to Go Through Museum to Dispel French Rumors. By United Press PARIS, Oct. 30.—Guardians of the Paris Louvre, the world’s greatest museum, have consented to an X-ray examination of the museum walls to reveal false masterpieces believed lining them. It will be conducted by two eminent Argentine specialists, Dr. Carlos Mianini of Buenos Aires, and Fernando Perez, Argentine ambassador at Rome. For the last several months comments have been current in the French capital to the effect that the famous palace of paintings has been misled in the belief that her internal decorations are entirely authentic. In order to dispel such rumors the two Argentinian photographic and X-ray specialists have donated not only their instruments but their services. PANICKY DEPOSITORS BLAMED FOR CLOSINGS State Examiner Says Lucerne Bank One of Most Stable Institutions. Attitude of panic on the part of depositors was blamed today by Luther F. Symons, state bank examiner, for the failure of many stable banks. Symons made the statement with announcement of the voluntary closing of the Lucerne and.) State bank, described by Symons as one of the most stable institutions in. the state. Directors of the bank, with assets totaling nearly $300,000, voted to close the institution after heavy withdrawals this week. The bank is located near Logansport, where several banks failed recently. Symons said an examination of the institution’s books in June disclosed a “nearly perfect condition.”

Zaiser & Zaiser / Broker* Unlisted Securities 129 E. Market L *- 9375 RI. 2167 Specialists In Unlisted Securities Edw. W. Zaiser Securities Corporation 4X4 Continental Bank Bids. Riley 4043 James T. Hamill & Company Private Wire* to SH Leading Markets Indianapolis MEMBERS Chicago Stork Exchange Chicago Hoard of Trade adlanapollfl Board of Trade \ssoeiated New York Curh 203 Continental Bank Bidg. Tel.. Klley 5493 Riley 5494