Indianapolis Times, Volume 43, Number 201, Indianapolis, Marion County, 31 December 1931 — Page 12

PAGE 12

STOCKS FOL'OW U. S. STEEL TO HIGHER LEVELS Trade Active as Buyers Push List Up From Early Figures. Average Stock Prices Average of thirty industrial* for Wednesday I’Ali “P 1-3#. Average of twenty ra.ls 33.53, up .03;. Average of twenty utilities 3190. up .59. Average of forty bonds 76.32. up .11. BY ELMER C. WALZER United Press Financial Editor NEW YORK. Dec. 31.—United States Steel common stock led a substantial rally in the morning trading on the Stock Exchange today. crossing 40 against its recent bear market low of 36 and Wednesday’s close of 38 Considerable last-minute tax sell-ing-transactions being for cashcaused some irregularity in the early dealings, but this was readily absorbed when United States Steel furnished the impetus for a further advance in the general list. Around noon the list was up fractions to more than 2 points with a few special issues making wider gains. Trading was moderately active for a time, but it slowed up in the late morning. Bond Market Firm Other markets moved up with stocks. United States government loans featured a firm bond market; grains rose fractionally and cotton held around the previous close. Call money renewed at 3Vi per cent for the first time in exactly one year. News of market significance was little changed. Business leaders, however, expressed conservative optimism over 1932 prospects although none would make specific predictions. Anticipation of a pickup in steel production after the first of the year helped United States Steel, while railroad share buying was based on expected aid for the carriers in the new year. Utilities Move Up Around noon United States Steel was at its high of the day of 40Vi, up 2Vi points from the previous close; Auburn Auto, 141 Vi, up 6Vi; Allied Chemical, 70%, up 1; American Can, *62V, up 1*; Case, 43, up 1%, and Standard Oil of New Jersey, 28Vi, 1. Utilities rose fractions to more than a point with best gains in Consolidated Gas, North American, American Telephone and Columbia Gas. New York Central rose to 30%, up 1%, in the rails; Atchison was at 87, up 1 Vi; Chesapeake & Ohio, 29Vi, up IV6, and Pennsylvania, 18Vi, up 1.

New York Curb Market

(By Thomson & McKinnon) —Dec. 31— 11:001 11:00 Alum Cos of Am 54 |Midwest Ut ... 5% Am Cynamld .. 2%|Mo Kan Pipe... 1% Am Gas & Elec 39%jMt Prod 2% Am Sup Pwr.. 4 iNat Invest .... 3'/* Asso Gas & El 4 jNia Hud Pwr .. 6% Cities Serv ... 5% Niles 7% Cord 7Va!Penroad 2 ! / Deere &Cos ... 9% Salt Creek .... 3% El Bond & Sh. lit 2! Shenandoah ... 1 Gen Aviation .. 3% So Penn Oil ~ 10% Ford of Can 8% Std of Ind 14% Ford of Eng... 4% Un Gas (A)... 2 Fox Tea %Un Lt & Pwr.. 6% Gulf Oil 26% Un Verde 3% Hudson Bay ... 2 iut & Indus .... 2% Imp Oil of Can 8 |Ut Pwr <8)... 2% Insull Ut 6% United Fndrs .. 1% Int Pete 9%l New York Bank Stocks (By Thomson & McKinon) —Dec. 30— Bid. Ask. Bankers 623% 64% Brooklyn Trust 157 167 Central Hanover 141 140 Chase National 28 Chatham Phoenix Natl ... 17 3 /* 19% Chemical 25% 2/% Cltv National 36% 38% Corn Exchange 59 62 Commercial 13°,, Continental 13% 15% Empire First National 1.840 1.940 Guaranty 254 254 Irvine 16% 17% Manhatten & Cos 28% 30% Manufacturers 28 30 lift ™ Net Changes By United Press NEW YORK, Dec. 30.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Up. Off. Allied Chemical 69% 2% ... American Can 61Vs 1% ... American Smelting 18% ... % American Telephone 117 1% ... Auburn 135 6V ... Bethlehem Steel 19 % ... Case 41% % ... Chrysler 13% % ... Consolidated Gas 60% 1% ... Du Pont 56 1% ... Electric Power 11 % % ••• General Electric 25% % ... General Motors 23% % ... International Nickel % % Kennecott 10% % ... Lowe’s. Inc 27 ... % Montgomery Ward 7% ... % N. Y. Central 29 ... % No American 33% % ... Paramount 6% % ... Pennsylvania 17% ... % Public 6ervlce 54% 1% ... Radio 5% % ... Radol-Keith (new) 2% ... % Sears Roebuck 33% % ... Standard Gas 29 1 ' ... Standard Oil. N. J 27% % ... Texas Corp 10% ... % Union Carbide 30% % ... U S. Steel 38% % ... Vanadium (unchanged) ... 13% ... ... Westinghouse Elec 24 % ... vvoolworth 39% % ... Chicago Stocks Opening (Bv James T. Hamill & Cos.) —Dec. 31— Bendix Avia.... *7% Insull com .... 5% Bore Warner . . J l , Jnsull 6’s ’40.... 29% Cord Corn 7% Mid United com 5 Cont Chi com.. 1% Mo Kan Pt Lne. 1 Cont Chi pfd . i4% Middle West ... 5% Comm Edison .117 Swift Inti ..... 21% Grigsby Grunow 1% Walgreen Strs... *1 Gt Lks Arcft... 1%! ' Investment Trust Shares (By Gibson & Bernard) PRICES ARE TO 12 NOON C. S. T. —Dec. 39Bid. Ask. n Founders Corp Con* % 1% ’ m & Gen Sec A 4% ... ,ra Inv Tr Shares 2 3% i'asic Industry Share* 2% ... Collateral Tr Shares A 3% 4% Cumulative Tr Shares 3% 3% Diversified Trustee Sh A .... 6% ... Fixed Tr Oil Shares 2% ... Fixed Tr Shares A 7 Fundamental Tr Shares A .... 3% 3% Fundamental Tr Shares 8.... 3% 4% Leaders of Industry A 3% ... Low Priced Shares 3% 3% Nation Wide Securities 3% 3% North American Tr Shares.. 2% ... Selected American Shares .... 2% 2% Selected Cumulative Shares.. 5% 6V Selected Income Shares 33% Shawmut Bank Inv Trust .... 1 3 Std Am Trust Shares 33% Super Corp of Am Tr Shares.. 3% 3% Trustee Std Oil A 3% ... Trustee Std OU B 3% 3% Uifled Service Trust Shares A 3% 2 s * U S Elec Light & Pwr A 16% 18% Universal Trust Shares 2% 3% Building Permits Thomas Stephenson, repairs. 5701 North Pennsylvania. $635. H O. Coff basement. 1506 South Talbott. 9150, State of Indiana, shed. 401 North 'tandoTph. $350. A H Smith, floor and repairs. 236 South

New York Stocks — <B Thomson A McKinnon i

—Dec. ,31— _ Prev. Railroads— High. Low. 11:00. close. Atchison 86% 85 86% 85% Atl Coast Line 27 25% Balt & 0hi0.... 15% 15% 15% 15% Chesa 6c Ohio.. 29% 28% 29% 28% Chesa Corp 18V* 16% 16% 164 Chi Grt West 2% 2% Chi N West..... 6% 6 6% 6 C R I & P 8% Del L i W.... 20 19% 19% 20% Del & Hudson ... 71 Erie 5% Erie Ist pfd 7% 64 Oreat Northern 17% 16% 16% 16% Illinois Central 10% 10 Kan City 50... 8% Lou 6c Nash 22% 22 M K 6c T 5 Mo Pacific 7 7% Mo Pacific pfd.. 13% 13% 13% 13% N Y Central 30% 29% 30% 29 Nickel Plate 4% NY NH 6s H.... 21 20% 20% 20% Nor Pacific .... 16% 16 16 16% Norfolk 6c West 118 O 6c W 7 6% Pere Marq 6 Pennsylvania ... 18% 18 18% 17% Reading 30 % Seaboard Air L % % So Pacific 28% 28 28 % 28 Southern Ry Bf, Paul 2 1% St Paul pfd 2% 24 St L 6c S F.... .. ... ... 3% Texas 6c Pac 25% Union Pacific... 73 71 73 71 Wabash 1 W Maryland 5% 5% Equipments— Am Car 6c Fdv .. ... 6 5% Am Locomotive 5% 5% Am Steel Fd 5% 5% Am Air Brake 8 4 Gen Am Tank .. 30 30 General Elec... 25% 25 25% ?5% Gen Rv Signal 23 22% 22% 22% Lima Loco 15% N Y Air Brake ~ 5 Press Stl Car 1% 1% Pullman 17 16% 17 16% Westingh Ar 8.. 14 134 14 13% Westingh Elec.. 24% 23% 24% ?4 Rubbers — Firestone ... Goodrich 4% 4 iVa 4% Goodyear 17% 17 17% 17 Kellv Sprefld... 1% 1% 1% 1 Lee Rubber ... . •... Z U S Rubber.... 3% 3% 3% 3 s ,a Auburn 140% 136% 140 4 135% Chrysler 14 13% 14 13% Graham Paige .. ... ... 3% General Motors 23% 23% 23% 23% Hudson 10% 104 10% 10% Hupp ... 4% 4% Mack H 13% Marmon IV* Nash 17% 17 17 163* Packard 4 3% Reo 32% Studebaker .... 114 11% 11% 10% Yellow Truck 3% 3% Motor Access— Am Bosch 6 Bendix Aviation 17% 174 17% 17% Borg Warner 9V4 Briggs 8% 8% 84 BV* Budd Wheel 2% 2% Campbell Wy ... 64 Eaton 5% El Storage B • 25% Houda 2% 24 24 2% Motor Wheel 5% 5% Sparks W 2% Stewart Warner 5% 5% Timkin Roll 18 18 Mining— Am Metals 5% Am Smelt 19 18% 18% 18% Am Zinc ... ... 2% Anaconda Cop.. 9% 9% 9% 9% Alaska Jun .... 14% 14 14% 14% Cal & Hecla. 33 Cerro ie Pasco 12% 12 12 11% Dome Mines 8 7% Freeport Texas.. 16 3 /* 16% 16% 16% Granby Corp... 5% 5% 5% 54 Great Nor Ore 12 11% Howe Sound ... 13% Int Nickel 7% 7% 7% 7% Inspiration 3 Kennecott Cop.. 11% 11 11 10% Magma Cop 8 Miami Copper 2 3 % Nev Cons 5 3 / Texas Gul Sul.. 23% 22% 22% 22 U S Smelt 16% 16% Oils— Amerada 12% 12% 12% 12V4 Atl Refining 9 9 Barnsdall 4% 4% 4% 4% Ohio Oil 5% 5 3 4 Mex Sbd 6% Mid Conti 5% Pan-Amer <B) 48 Phillips 4% 4% 4% 4% Pr Oil & Gas ... 5 Pure Oil 4 iVa Roval Dutch 14*/* Shel Un 2% 2*/* 274 2% Simms Pt 4% Sinclair 4% 4% 4% 4% Skellv 2% Standard of Cal 24% 24% 24% 24 % Standard of N J 28 27% 28 27% Soc Vac 8% 8% 874 8% Texas Cos 11 3 4 11 1174 10 3 ! Union Oil 12% 12% 12% 12% Steels — Am Roll Mills.. 8% 7% BVs 8 Bethlehem 19% 18% 19% 19 Byers A M 12 12 Colo Fuel 7% Cruc Steel 23 22% 22% 22% Inland 1974 Ludlum 4% 4V* McKeesport Tin 48% 4774 48% 47% Midland 7 3 /* 7% 7% ... Newton 2% Repub I & 5... 4% 4% 474 474 U S Steel 40 39 39% 38 Vs Vanadium 13% 13% 1374 13% Youngst S & W 7% 6% Youngst S & T 12% 12 % Tobaccos— Am Sumatra 3% A Tob A (new) 68 A Tob B (new) 71% 70 71% 69% Con Cigars 20% General Cigar 29 Llg & Myers B 49 47% Lorillard 12% 12% 12% 1274 Phil Morris .... B’i 87s 874 ... Reynolds Tob 3274 3274 3274 32% Tob Pr A 8% 6% Tob Pr B 3% Utilities— Abitibl 2 ni Adams Exp .... 4% 4 4% 374 Am For Pwr ... 774 7Vs 774 7 Am Pwr & Li.... 16 1 574 1 6 15% A T & T 11774 116% 117% 17 Col Gas & El. 1374 13% 1374 13% Com & Sou ... 3% El Pwr 6s Li.. 1274 11% 1274 11% Gen Gas A. J% Itl T & T 8% 8 8% P N&tl Pwr 65 LI .15 1 474 14% 14% No Amer Cos 35% 3374 Pac Gas & El 34% 35 Pub Ser N J... 55V* 54 55% 54% So Cal Edison 31 % 307a Std G & E 1... 2974 28% 297* 29 Uited Corn .... 9 8% 9 3% Ut Pwr <te L A.. 874 8% 8% 8% West Union .... 41% 4074 41% 40% Shinning— Am Inti Corp ... 574 5% 5% 5 N Y Ship 4 Atl Gulf & W I .. ... ... -'0 Itl Mer M pfd.. 3% 33 ... United Fruit h% Am Sug 37 35% 37 36^ Armour A '* Beechnut Pkg 3 j|% Can Drv , ‘■i., nViiMc Pr ... ... V/2 Coca Cola 108Vk 106 106 105% Cont Baking (A) .. 9 ... ••• j> Corn Prod 41 % 41 41 40/4 Cudahy Pkg 30 % 3074 Cuban Am Sug. .. ... ••• J,, Gen Foods 35 34 35 33^2 Grand Union 7/2 Kroger . ... 14% 14% 'Nat Biscuit 41% 40% 41% 40% Pillfihurv .. ... ••• 2UY2 puritvßak 12% 12% 12% 12% Safeway St ... 41% 42% Std Brands 1374 13 13% 1274 Ward Bkg 6% ... Drugs— , Lambert Cos 50 49 50 48% Lehp & Fink 1974 Industrials — _ „ Am Radiator 7 7 Bush Term In the Stock Market (Bv Thomson & McKinnon) NEW YORK, Dec. 30.—While cheerfulness continued in evidence today, it was not widespread enough to sustain the flashes of strength. An early upturn was influenced by the more hopeful outlook of the steel industry pictured by the trade journals and the acceptance of lower wages by the Southern Pacific railway shopmen’s organization. The action of the Southern Pacific employes was taken to foreshadow more general acquiescence to waga cuts when the railroad executives and labor leaders meet the middle of the month. Railroad stock and bonds responded to this news, but demand did not endure. The relapse in the rail shares contributed to hesitancy elsewhere. Scattered tak selling made its appearance and doubtless was in part responsible for some of the irrregularity. At the same time, there were signs of reinvestment here and there, apparently reflecting the first ol the year interest and dividend disbursements. The demand was not aggressive, it was plain to see from the action of the market. While sentiment appears to be hopeful of better things after the turn of the year, feeling of hesitancy prevails, influenced by the unsettled intergovernmental debt situation and the uncertain frame of mind of congress. The necessity of higher taxes is always a disconcerting factor. However, With the year-end at hand, the market should be relieved of considerable liquidation, incident to the period. The absence of that pressure will permit stocks to reflect more natural influences which at least should develop improvement.

Certainteed 3% Gen Asphalt 12 12 Lehigh Port 5 Otis Kiev 1974 Indus Cbems— Allied Chem.... 70V* 89 70 69% Cora Solv 9% 8% 9 •% Union Carb .... 31%3330 3 31% 3074 U 8 Ind Alco.. 27% 27 27% 26% Retail Stores— Assoc Drv Gds.. 774 7 774 6% Gimbel Bros 1% Kresge S 8.... 15% 15% 15% 15% May D Store 16*4 16% Mont Ward 774 7*4 7% 7*4 Penny J C 2774 27% Schulte Ret 8t 3% Sears Roe 33% 3374 33% 33% Woolworth 40% 407s 40% 397s Amusements— Bruns Balke 274 Col Graph ... 3 Crosley Radio f. ... 3% Eastman Kod ... 83 80% 83 80 Fox Film (A) ’ 274 2% Grigsby Grunow IVa IV* Loews Inc 28% 27 28 % 27 Param Fam .... 6% 6% 6% 674 Radio Corp .... 574 5% 57* 5% R K O 3 274 Warner Bros 2% 274 Miscellaneous— I Airway App 1% City fee Sc Fu 27 26% Congoleum 874 Am Can 62 V* 61% 6274 6174 Cont Can 35% 347* 3574 35 Curtiss Wr 1% 1% Gillette S R.... 13% 12% 12% 11% Real Silk 274 2 274 2 Un Aircraft 1.074 1074 10% 10% Int Harv ...... 247* 24% 24% 24 J I Case 42% 41% 4274 41% Bank Clearings INDIANAPOLIS STATEMENT —Dec. 31Clearings ~...$ 2,722.000.00 Debit 5.901,000.00 Clearings for the mo 63,812,000.00 Debits for the month 150,715,000.00 Clearings for the year 849,785,000.00 Debits for the year 1,888,285,000.00 TREASURY STATEMENT —Dec. 31— Net balance for Dec. 29 $479,670,645.98 Expenditures 5,306.006.29 Customs rects. mo. to date.. 23,795,740.82 Cash Grain —Dec. 30— 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 —Steady: No. 1 red. 4974 @so%c: No. 2 red. 48%@49%c: No. 2 hard. 48%® 4974 c. Corn—Steady: Tlo. 3 white. 22®28c: No. 4 white. 26@27c: No. 3 yellow. 26%@22%c; No. 4 yellow. 2f%@26%c: No. 3 mixed. 25%®2674c: No. 4 mixed. 24%®55c. Oats —Steady: No. 2 white. 22%@23%c: No. 3 white. 21%@22%c. Hay—Steady <F. o. b. country points taking 23 %c oi less rates to Cincinnati or Louisvile). No. 1 timothy. [email protected]; No. 2 timothy. [email protected]. —lnspections Wheat—No. 2 red. 1 car: No. 3 red. 2 cars. Total. 3 cars. Corn—(Newi No. 4 white. 2 cars: No. 2 yellow. 1 car: No. 3 yellow. 12 cars; No. 4 yellow. 25 cars: No. 3 mixed. 1 car. Total. OATS —No. 2 white. 3 cars: No. 3 white. 1 car: No. 2 mixed. 1 car. Total. 5 cars. Produce Markets Eggs (country run)—Loss off delivered in Indianapolis, 22c: henery quality No. 1. 25c; No. 2. 15c. Poultry (buying prices)—Hens weighing 5 lbs. or over. 14c: under 5 lbs.. 13c; Leghorn hens, 10c; broilers, full feathered, 374 lbs. and up, 13c; barbeback, 11c; Leghorn broilers. 10c: spring chickens. 6 lbs. and up. *3c: under 12c: old cocks. 7c: ducks, full feathered. 9c: geese. 6c. Thesfe prices are for No. 1 top aualitv auoted by Kingan & Cos Butter (wholesale)—No. 1. 30@31c: No. 2 28@29c. Butterfat —26c. Cheese (wholesale selling price per pound)—American loaf, 2374 c; pimento loaf. 25 3 /4c; Wisconsin firsts, 19c; Longhorns. 19c; New York liberger. 30c. By United, Press NEW YORK, Dec. 31.—Potatoes—Market, steady; Long Island, [email protected] barrel: Idaho, [email protected] sack: Bermuda, ss@lo; Maine, $1.50® 1.90 barrel; Canada, $1.40® 1.50 barrel Sweet Potatoes Market, steadier; Jersey baskets. [email protected]; Southern baskets, 60@75c. Flour—Market, dull; spring patents, [email protected]. Pork—Market, steady. Mess —$17.75 barrel. Lard—Market, steady. Middle West 5p0t—,[email protected] barrel. Tallow—Market, quiet; special to extra, 3@3%c pound. Dressed Poultry— Market, steady; turkeys, 20®32c; chickens, 14@27c; fowls, 10@22c; broilers, 14@33c; capons, 20@36c; ducks, 13@20c; Long Island ducks, lgc. Live Poultry—Market, steady; geese, 19@22c; ducks 20@26c; fowls, 14@24c; turkeys, 19@27c; roosters. 10@llc; chickens, 14@22c; broilers, 13® 22c: capons, 35c. Cheese —Market, dull; state whole milk fancy to specials, 1374® 18c; Young America. 14%@15c. By United Press CHICAGO, Dec. 31.—Eggs—Market, steady: receipts, 3,314 cases; extra firsts, 2474 c; firsts, 2474 c: current receipts, 20® 21c; seconds, 12®15c. Butter —Market, steady; receipts, 5,862 tubs; extras, 27c; extra firsts. 24%@26c: firsts, 23®23%c; seconds, 21®22c; standards. 25c. Poultry —Market, unsettled; receipts. 3 cars; fowls, 14@17c; springers, 17c; Leghorns, 12c; ducks, 16@19c; geese, 13c; turkeys. 15@ 22c; roosters, 10c. Cheese—Twins, 13® 13%c; young Americas, 13%®13%c. Potatoes—On track, 115; arrivals, 45; shipments, 566; market, steady; Wisconsin round whites. 80@90c; Idaho russets, $1.45 @1.55; Colorado McClures, [email protected]. By United Press CINCINNATI, 0., Dec. 31.—Butter, steady; creamery In tub lots according to score, 22@26c; common score discounted 2®3 packing stock No. 1,20 c; No. 2,15 c; No. 3, 8@10c; butter fat, 22@24c. Eggs— Lower; cases included; extra firsts, 22c; firsts, 21c; seconds. 18c; nearby ungraded. 20c. Live Poultry—Thin and coarse stock sells only at heavy discount; fowls 5 lbs. and over, 17c; 4 lbs. and over, 14c; 3 lbs. and over 13c; Leghorns 3 lbs. and over, 10c: roosters. 9c; broilers colored 1 pound and ov>r, 18c; 1% lbs. and over, 18c; 2 lbs. and over, 17c; fryers, 3 lbs. and over 16c; partly feathered 10c; Leghorn broilers. 1 lb. and over, 15a: 1% lbs. and over. 15c; 2 lbs. and over, J.2C; Leghorn stags. 10c: black springers, 10c; roasting chickens, 4 lbs. and over. 18c; ducks under 3 lbs. sell ac liberal concessions; ducks white 4 lbs. and over 18c; under 4 lbs., 15c: colored 4 lbs. and over, 18c; under 4 lbs., 15c; capons, 8 lbs. and over, 25c; under 8 lbs.. 17c; slips. 15c; guineas, 10c; turkeys No. 1 hens 8 lbs. and over, 26c; young toms No. 1, 10 lbs. and over, 25c; No. 1 old Toms. 16c; Young Toms over 15c; pounds 18c: crooked breasted, 12c; hen turkeys under 8 lbs. and Toms under 10 lbs., sell at liberal concessions. By United Press CLEVELAND, Dec. 31.—Butter—Extras, 31c; standards, 29c; market, weak. Eggs— Extra firsts, 24c; current receipts. 22%c: market, steady. Poultry—Heavy fowls, 20c; medium, 18c; Leghorns. 15@16c: smooth springers, 18@20c; ducks, 20c; stags. 13c; geese. 15c: turkeys, 25c; market, steady. Potatoes—Ohio, mostly. 50c; poorer 45c bushel sack: Maine Green Mountain, mostly sl.lO 100-lb. sack; Idaho Russet, s2® 2.2S 100-lb sack. Local Wagon Wheat Cltv grain elevators are paving 46c for No. 2 red wheat and 46c for No. 2 hard wheat. PREACHER SUES COUPLE FOR WIFE’S ALIENATION Charges Spouse’s Cousin and Rail Magnate Mate Urged Divorce. By United Press CHICAGO, Dec. 31.—Wililam B. Storey, president of the Atchison, Topeka & Santa Fe railroad, and his wife were named in a $200,000 damage suit on file today charging the couple alienated the affections of the wife of the Rev, Ulysses Grant Warren, Corning (N. Y.) minister. Dr. Warren charged the wealthy middle-aged couple persuaded his wife, who has a divorce suit pending at Reno, Nev.. to leave him. His attorneys emphasized that “no scandal is connected with t)ie case.” They said the suit was similar to one recently dismissed in the Buffalo (N. Y.) federal court. Storey, one of the nation’s leading rail executives, would not comment on the case. His wife declared Mrs. Warren was her cousin. “But there is nothing to the case,” she said. "It is ridiculous to charge we persuaded her affections in any way.” New York Liberty Bonds —Dec. 30— 374* 97.20 Ist 4%s 99. 4th 474s 99.3 Treasury 4%s 101. Treasury 4s 98.16 Treasury 3%s 95.16 Treasury 3%s of ’47 91.8 Treasury 3%s of ‘43 (March)....... 91.15

THE INDIANAPOLIS TIMES

PORKERS CLOSE YEAR'S TRADING WITHJPSWING Swine Show Net Loss of $3.45 for 12 Months of 1931. BY JOHN T. HAWKINS Times Financial Editor A 10 to 20-eent rise in prices featured hogs today at the Union stockyards as the last trading session of the year drew to a close. This morning’s top price of $4.85 registered a net loss for the year of $3.45 on choice quality hogs. The year 1931 opened with prices ranging from $8.25 to $8.30. The bulk of porkers this morning, 100 to 325 pounds, sold for $4.25 to $4.85. Receipts were estimated at 3,000; holdovers were 91. Receipts for the year decreased 130,000 compared with 1930. Total for 1931 was 1,580,000; 1930, 1,710,000. Cattle Dull, Steady This morning’s trade in cattle was generally dull and steady, nothing on hand to test top prices. Receipts were 300. Today’s top price on cattle of $10.25 shows a loss of $3.25 for the year, compared to the $13.50 range prevailing in January. Receipts for 1931 showed a decrease of 32,500 from 1930 figures. 1931 totaling 203,000 and 1930, 235,500. Vealers showed no change this morning from Wednesday’s opening; holding steady at $8 down. Calf receipts were 300. Receipts of calves for the year were 8,000 less than the 173,000 shipped here during 1930. Considering quality and condition, sheep were about steady, selling mostly at $5.75 to $6. These prices were equivalent to $6.25 for choice western lambs with dry fleeces. Receipts were 600. _ Sheep Loss Small For the year sheep showed less of a loss than any other live stock classification. Today’s top of $6.25 was only $2.50 under high figures at the beginning of the year. The Indianapolis sheep market grew steadily in importance during the twelve months past, receipts showing a gain of 56,000 over 1930. Figures for 1931 were 342,000 and 286,000 for 1930. Early bids and sales on hogs at Chicago today were 10 to 15 cents higher than Wednesday’s average on weights below 210 pounds. Most early bids and a few sales on 160 to 210 pounds $4.50 to $4.60. Nothing done on heavier weights and packing sows. Receipts were 37,000, including 20,000 direct. Holdovers were 4,000. Cattle receipts were 4,000; calves, 1,500, strong. Sheep, 17,000, strong. HOGS Dec. Bulk. Early Top, Receipts. 23. $4.10® 4.50 $4.50 5.500 24. 4.95® 4.75 4.75 2,500 28. 4.25® 4.80 4.80 9,000 29. 4.15® 4.65 4.70 6,000 30. 4.15@ 4.65 4.65 4,000 31. 4.25® 4.85 4.85 3.000 Receipt*. 3,000; market. Wither. (140-160) Good and choice. ..$ 4.50 —Light Lights—-(l6o-180) Good and choice ... 4.85 —Light Weights—-(lßo-200) Good and choice... 4.85 (200-220) Medium ad good 4.70 —Medium Weights—-(22o-250) Good and choice.... 4.(30® 470 (250-290) Medium and g00d... 4.35® 4.45 —Heavy Weights—-(29o-350) Good and choice.... 4.10® 4.35 —Packing Sows—-(3so-500) Medium and good.. 3.25® 4.00 (100-130) Slaughter pigs 4.50 CATTLE (SLAUGHTER CLASS) Receipts, 300; market, steady. —Steers— Good and choice $ [email protected] Common and medium 3.50® 5.75 (1,100-1,500) Good and choice [email protected] Common and medium 4.50® 6.00 —Heifers—-(soo-850) Good and choice 5.50@ 8.50 Common and medium 3.00® 5.50 —Cows Good and choice 3.25 @ 4.25 Medium 2.50® 3.25 Cull and Common 1.25® 2.50 —Bulls (yearlings excluded) — Good and choice beefs 2.75® 4.00 Cutter, common and medium 2.00® 2.75 CALVES AND VEALERS Receipts. 300; market, steady. —Vealers— Good and choice $ 7.50@ 8.00 Medium 5.50® 7.50 Cull and common 3.50® 5.50 —Calves — Good and choice 4.25@ 6.50 Common and medium 2.00® 4.25 —Stockers and Feeder Steers— Good and choice 4.25® 6.00 Common and medium 3.00® 4.25 (800-1,500) Good and choice 4.25® 6.00 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 600; market, steady. Good and choice $ 5.75® 6.25 Common and medium 3.50® 5.75 Ewes, medium and choice... [email protected] Cull and common .50® 1.25 Other Livestock By United Press .CHICAGO. Dec. 31.—Hogs—Receipts. 37.000: including 20.000 direct: 10@15c higher on weights below 220 lbs.: others steady to 10c higher: 170-210 lbs.. [email protected]; top. $4.65; 220-290 lbs.. [email protected]: 140-160 lbs., $4.40®4.60; pigs. $4#4.35: packing sows. $4.50® 4.65; light lights. 140-160 lbs., good and choice. [email protected]: light weight. 160-200 lbs., good and choice. [email protected]: medium weights. 200-250 lbs., good and choice. [email protected]: heavy weights. 250-350 lbs., good and choice, [email protected]: packing sows. 275-500 lbs., medium and good. $3.45 @3.75; slaughter pigs. 100-130 lbs., good and choice. [email protected]. Cattle—Receipts. 4.000: calves. 1.500: general trade strong to unevenly higher; mostly 25c up: active at advance; top yearling steers. $11.50; bulk. s6® 9; all interests buying, clearance good. Slaughter cattle and vealers—Steers. 600900 lbs., good and choice. $7.25® 11.25: 9001100 lbs., good and choice. [email protected]: 1100-1300 lbs., good and choice, [email protected]; 1300-1500 lbs., good and choice. $7.50® 11.50; 600-1300 lbs., common and medium .s4® 7.50: heifers. 550-850 lbs., good and choice. $5.75&7.75: common and medium. s3@s 75; cows, good and choice. $3.75@5: common and medium. $3®3.75; low cutter and cutters. s2®3: bulls, yearlings excluded, good and choice, beef. s4® 4.50; cutter to medium. $2.75®4.25: vealers. milk fed. good and choice. s6@B: medium. ss®s: cull and common. s3®s Stocker and feeder cattle —Steers. 500-1050 lbs., good and choice. $4.75@6: common and medium. [email protected]. Sheen —Receipts. 17,000; few sales, steady to unevenly higher; better grade lambs, $5.50@6: closely sorted kinds held above. $6.25; fat ewes. $1.75®2.50. Slaughter sheen and iambs—Lambs. 90 lbs. down, good and choice. $5.25® 6.35: medium. $4.50 @5.25: all weights, common. $3.50@4 50: ewes, 90-150 lbs., medium to choice, $1.50® 2.75: all weights, cull and common. $1.25® 2. Feeding lambs. 50-75 lbs., good and choice. $4.50®5. By United Press EAST ST. LOUIS. Dec. 31.—Hogs—Receipts, 8,500 including 3,500 through and direct; market, steady to 10c higher; tqp. $4.70; small lots up to $4.75: most 130210 lbs., [email protected]; 220-250 lbs., $4.20® 4.40: 100-130 lbs., [email protected]; sows mostly $3 40® 3.60. Cattle Re*ipts, 1,200. Calves —Receipts. 660; market, generally strong under light receipts; vealers 25c higher nt $8.50; a few steer sales. $4.35 @8; mi>:ed yearlings ard ss@B; cows, [email protected]. with tor kinds, $4; low cutters. $1.50® 2; bulk medium bulls quotable up U $3.75. Sheep—Receipts, 1,800: market, slow; opened steady; few choice lambs to city butchers, $6; indications around steady on others; lambs, 90 lbs. down, good and choice. ss@6: medium. s4@s; all weights common, s3®4; ewes, 90-V>o lbs., medium to choice, sl® 2.50: all weights cull and cotnmon 50c® $1.25. By Times Special LOUISVILLE. Dec. 31—Hogs—Receipts. 500; 10c lower: 175-240 lbs.. $4.60 : 240-300 lbs.. $4.30: 300 lbs. up. $3.70; 175 lb®, down, $4.20; packing sows. $2.70@3 46; stags. $2.45 down. Cattle—Receipts, 150; slow and steady: best slaughter steers and heifers, $4.50@6; extreme top slaughter cows and bulls, $4: stockers and feeders, s3®s; calves, receipts. 100; steady; top choice vealers, $7; others, *6.50 down. Sheep and lambs—Receipts, 100: steady; best fat lambs. $5.50; buck lambs, $4.50; throwouts. $3 down; fat ewes, $2 down. No shipments Wednesday.

BELIEVE IT OR NOT

A DEAD man WAS fINED R)R CARRYING A Gl/N j ON HIS &ODV WAS FOUNO a pistol and a*ioo bill The. Justice of the peace Fined mi for carry/ag \ KREB/VTOPROSKEPKAIOCARECLOC^E^nENOS LIVES AT 3OH MISSION ST., SAN FRANCISCO, CAUF. © 1932. (dm Features Syndicate, esc, Orrat Britain right* rescnrcA ,

Dow-Jones Summary

Pennsylvania Water and Power Company iti eleven months ended Nov. 30, 1931, net profit amounted to $1,836,575 after interest, depreciation and federal taxes equal to $4.27 a share on 429,848 shares. Sears Roebuck & Cos. after first of year to enter power farm equipment field for first time on active basis. New Jersey Company declared the regular quarterly dividend of 50 cents. New York cables opened in London at 3.38, against 3.3914; Paris, checks, 86.25; Amsterdam, 8.4375; Italy, 66.75, and Berlin. 14.187. Childs Company effective Jan. 1 will reduce wages and salaries ranging from 10 to 25 per cent. Mississippi Valley Utilities declared the regular quarterly dividend of $1.50 on $6 prior preferred stock, payable Feb. 1, of record Jan. 15. Bloomingdaie Brothers declared the regular quarterly dividend of $1.75 on preferred stock, payable Feb. 7, of record Jan. 20. Bank of England statement as of Dec. 31 shows circulation 364.150,000 pounds, against 370.030,000 on Dec. 24; ratio. 18.4 against 20.9 per cent; bullion, 121,348,000, against 121,353,000 pounds. Sales of electrictiy by Public Service Electric and Gas Company, subsidiary of Public Service Corporation of New Jersey, for eleven months of 1931, totaled 1,573,568,087 kwh., against 1,552,958 in like period of 1930. American Thermos Bottle Company declared the regular quarterly dividend of 15 cents on common stock, payable Feb. 1. of record Jan. 20. Building construction in United States in 1932 should total $3,420,000,000, an increase of more than $500,000,000 over building construction in 1931, according to Copper and Brass Association. Horn & Hardart Cos. of New York declared the regular quarterly dividend of 62!£ cents on common stock, payable Feb. 1, of record Jan. 11. * North American Light and Power Company declared the regular quarterly dividend of 2 per cent in common on common stock, payable Feb. 15, of record Jan. 20. Other Livestock By United Press CINCINNATI, O, Dec. 31.—Hogs—Receipts, 5,500; including 3,000 direct; heldover, 320, very slow, unevenly steady to 15c lower; later trade practically at standstill with some bids 25c off: a few early sales, 160-225 lbs., $4.90@5; some 250-275 lbs., $4.35<a 4.50; 300 lbs. down to $4.25 or below; 120-150 lbs., [email protected]; sows steady to weak. $3.25 to mostly $3.50; smooth light weights, $3.75. Cattle—Receipts. 500; calves, 2.50; slow, about steady; odd lots common to medium steers and heifers, $4(&;5; a few upward to $6.50; beef cows, $3.25(03.75; low cutters and cutters, [email protected]; best bulls, $4.50; general undertone, however, weak to lower; vealers opened steady; later trade 50c higher on best kind: good and choice, $7.50(08.50; lower grades, $7 down. Sheep —Receipts, 500; not enough to make market: all classes quotably nominally steady; better grade lambs, [email protected]; common to medium, [email protected]; sheep $2 down. By United Press LAFAYETTE, Ind., Dec. 31.—Hogs— Market steady to 15c higher; 160-180 lbs., $4.70; 180 to 200 lbs., $4.60; 200-225 lbs., $4.45; 225-250 lbs., $4.35; 250-275 lbs., 4.20; 275-300 lbs.. $4.10; 300-325 lbs., $4; 140160 lbs.. $4.25; 120-140 lbs., $4.10; 100-120 lbs., $4; roughs. $3.50 down; top calves, $7; top lambs, $5. By United Press FT. WAYNE, Dec. 31.—Hogs—Market. 10@20c higher; ICO-140 lbs., $4.20; 140-160 lbs., $4.35; 160-200 lbs.. $4.60 f 200-225 lbs.. $4.50; 225-250 lbs.. $4.40; 250-275 lbs., $4.20; 275-300 lbs.. $4.10; 300-350 lbs., $4; roughs, $3.25; stags, $2; calves, $8; lambs, $5. By United Press EAST BUFFALO, N. Y„ Dec. 31.—Hogs on sale. 2,400; dependable demand for all weights; weights about 220; steady to 10c higher; others steady to 10c lower; mostly steady; medium to choice. 135-220 lbs., $5; sparingly. $5.10; 230-270 lbs., $4.75; one deck choice 250 lbs.. $5. Cattle —Receipts. 225; cows unchanged; cutter grades, $1.50 (02.50: few common to medium steers, $5.50(0 6.50; several loads unsold. Cattle— Receipts, 225; cows unchanged; cutter grades, $1.50(02.50: few common to medium steers, $5.50® 6.50; several loads unsold. Calves—Receipts, 200; lambs quality plain; market, weak to 25c lower; good to i choice few westerns, [email protected]; medium kinds, [email protected]; common. [email protected]. By United Press PITTSBURGH. Dec. 31.—Hogs—Receipts, 1.800; market. lO(025c lower; 130-220 lbs., $4.85e5.10; 230-280 lbs., pigs. 54.60Q4.85; packing sows. 33.50@>3.75. Cattle—Receipts, 10; market, nominal. Calves —Receipts, 25; market, about steady; better grade vealers mostly, $8 © 9.50: medium kinC $5.50. Sheep—Receipts. 500; market. slow; asking about 25c lower; better grade lambs, $6 downward. By Unites Press CLEVELAND, Dec. 31.—Hogs—Receipts. 900; holdover lione; mostly steady to 15c higher; spots on heavier weights, 10c lower; 140-230 lbs., [email protected]; bulk; 240-300 lbs., $4.50; pigs, $4.75. Cattle—Receipts, 350; little done; steer undertone weak to unevenly lower; few common, [email protected]; cows scarce near steady. Calves— Receipts, 350; little done; steer undertone weak to unevenly lower; few common. $4 @5.15; cows scarce, near steady. Calves— Receipts, 350: mostly 50c lower; desirable vealers* $9©9.50; few outstanding quality higher; cull to medium, mostly $6@S. Sheep—Receipts. 1.800; lambs mostly steady with Wednesday’* opening; weak to 25c under active and steady close; s6@ 6.25 paid frequently; only au extreme at *6.50; turowouU, $(.5065.

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

All topics in Ripley’s “Believe It or Not” which appeared in Wednesday’s Times were* self-ex-planatory. Friday—“A Jockey Who Rode Two Horses in the Same Race.”

In the Cotton Market

(By Thomson & McKinnon) NEW YORK, Dec. 30.—The cotton market opened about unchanged, with local traders buying to follow up Tuesday’s strong close. A little southern selling discouraged this kind of buying and prices were soon 3 points lower. Later there was renewed buying for the trade and at noon the loss had been regained. The Orient still is buying and in trading there is considerable talk as to the effect of the big governmental borrowing, the majority of opinion seemed to be that cotton prices will be enhanced, A change, in textiles is hard to detect, but prices, if anything, might be called a trifle firmer. While we have a decided preference for the long side of the cotton market, we do not think the time is yet here when indiscriminate buying is advisable. While sales out of the interior are gradually strengthening the situation, contracts should be acquired on the usual reactions which the market is more than apt to offer. CHICAGO —Dec. 30High. Low. Close. January 6.44 6.42 6.44 March 6.60 6.57 6.60 May 6.80 6.72 6.75 July 6.94 6.89 6.92 October 7.14 NEW YORK High. Low. Close. January 6.40 6.34 6.38 March 6.53 6.48 6.49 May 6.71 6.64 6.65 July 6.89 6.81 6.84 October 7.13 7.05 7.06 December 7.31 7.22 7.23 NEW ORLEANS January 6.38 6.33 6.35 March 6.50 6.43 6.48 May 6.68 6.61 6.65 July 6.86 6.58 6.82 October 7.05 6.99 7.03 December 7.20 7.15 7.15

Registered U. S. U 1 Patent Office RIPLEY

Bright Spots of Business

By United Pres* CLEVELAND. Dec. 31—White Motor Company placed orders for 13,500,000 pounds of materials for use In the manufacture of a large order recently received frem the city of New York. NEW YORK—The index of business activity issued by “Business Week,” stood at 94.4, against 63.9 last week. YOUNGSTOWN, O.—An increasing demand for steel products for the automobile industry in 1932 wa® predicted by B. F. Fairless, vice-president of the Republic Steel Corporation. OMAHA, Neb—The Union Paclfio railroad will recall 4,000 workers in reopening shops at several division point* where operators ceased three months ago. it was announced. NEWARK, N. J.—Motor Improvements, Inc., placed orders for three carloads of sheet and strip steel with the Wheeling Steel Corporation of Wheeling, W. Va„ and the Leechburg Steel Corporation of Leechburg, Va. HARTFORD. Conn.—Hartford Electric Light Company is planning to spend $1,000,000 for new construction in 1932, compared with $825,000 in 1931. lt was announced. SAN FRANCISCO—Pacific Telephone and Telegraph Company net prefit L’r 1931 was estimated at $7.75 a share, against $7.05 a share in 1930. BOSTON—Norwood Gas Company declared a $2 dividend on the common stock, compared with payment of $1.50 a share on Kept. 30.

Thomson & McKinnon INDIANAPOLIS CHICAGO NEW YORE MEMBERS New York Stock Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Board of Tfads New York Curb Association Rooms 200-214 Circle Tower Telephone Lincoln 5501

• • Indiana Condensed Milk Cos. • • • •

DEC. 31, 1931

STRONG CABLE NEWS FORCES GRAINSHIGHER Scattered Buying Aids All Options in Early Trade. BY HAROLD E. RAUWII.LE United Pres* Staff Correspondent CHICAGO, Dec, 31.—A better tone in stocks and strength abroad gave wheat a moderate advance as the Board of Trade opened today with scattered buying and little selling. Liverpool was firm on an increased demand due to light supplies. The opening rise was only fractional with the deferred months leading. Corn was firm with wheat and the continued unsettled weather. Oats were dull and about steady. At the opening wheat was % to % cent higher, com was % to % cent up and oats % cent lower to % cent higher. Provisions were firm. Liverpool was about as expected at the start and by mid-afternoon stood unchanged to % pence higher, equal to *4 to % cent lower. All leading world grain markets will close Thursday and not reopen until next Monday. The New York Stock Exchange will be open on. Saturday, while most livestock markets will be open both Friday and Saturday. Chicago Grain Range WHEAT— —DeC ’ 81 ~ p reT , March H 5 C 54% Mav 573, 58% .57% .56% Julv 56% .56% .56% 55% CORN— March 39% 39% .39% .39% May 41% .41% .41% .41% JvlV .43% .42% .43 . 42% OATS— May .26% .26% .26% 26% RYE— May 47 .46% .46% .48 LARD— January 5.27 8.35 May 5.57 5.55 By Times Special .Dec 31—Carlots: Wheat. 9; corn. 130; oats. 25: rye. 1. and barley. 9. By Times Special voh? 1 F A Q9’ nn P ec - Primary receipts? Wheat—396,ooo, against 882,000; com, 421,443 -0°0: oats, 81.000. against Shipments—Wheat, 432,000. against so 4 nn2? :COrn ’ * alnst 33 4,000; oats. 59.000; against. 323,000. By United Press TOLEDO, Dec. 30.—Cash grain close B r!ces ' : Wheat—No. 2 red, 59% na 6 fl /aC M % orn r;No. 2 yellow, 39%@40%c! Oats—No 2 white 28%®29%c. Rye—No. 2 - Grain on track 28%c rate/Wheat 2 r< a- No. 1 red. lc prem11™■_ Corn-No. 2 yellow, 34%@35%c; 9S°i> 2 vello w 33 @34c Oats—No. 2 white. 25 PriL 2 f /2 .i £°- it’ hlte - 24®25%c. Clover .february. $8.75; March, February, ®r/ 5, -jn^Vi Ch ' ?? 85 - Butter—Fancy creamejv. 30®31c Eggs—Current receipts. 22® 24c. Hay—Timothy, per cwt. sl. By United Press CHICAGO Dec. 30—Cash grain close: Wheat—No. 2 mixed, 563*c; No. 3. 55%c. Corn—No. 4 mixed, 36%@36%c; No. 2 \eU 1 S d % 4< £V No ' 3 Yellow, new. 4 % 35 . c i^-., 6 - 35%c: No - 3 white. llv tv 3e,! ? 36, 3C. Oats—No. 2 white. 25%@26c; No 3. 24'/,@26%c: No. 4. 25@ *s2*®; .Bye—None Br-rley—42@s7c. Timothy—s4® 4.25. Clover—sß® 15.50. NEW YORK COFFEE RANGE —Dec. 30— High. Low. Close. March 5.76 5.75 5.75 May 5.90 .... 5.90 September g. 09 6.09 RAW SUGAR PRICES —Dec. 30High. Low. Close. January 1.08 .... 1.08 March ‘ 1.14 1.12 1.13 May 1.20 1.18 1.18 July 1.25 1.24 1.24 September 1.31 1.29 1 29 December 1.38 1.36 1.36 Zaiser & Zaiser Incorporated Brokers Unlisted Securities 129 E. Market LI. 9375 RI. 2167