Indianapolis Times, Volume 43, Number 220, Indianapolis, Marion County, 22 January 1932 — Page 16

PAGE 16

STRONG TREND IN RAILS AIDS STOCKSHARES Carriers Move Up Fractions to 3 Points Around Noon.

Average Stock Prices

Average of thirty Industrials for Thursday 83.42. off .15. Average of twenty rails 40.92. uo .28. Average of twenty utilities 33.37. un 06. Average of forty bonds 81.04. uo .37. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Jan. 22.—Railroad shares featured the morning trading on the Stock Exchange today, their strength halting a reaction in the general list set off by weakness In General Motors. The entire railroad group was up fractions to more than 3 points around noon and these issues were monopolizing the tape. Demand continued despite denial by David B. Robertson, general chairman of the labor executives’ association, that the workers had agreed to a wage reduction. Atchison reached 92Vs, up 2t4; New Haven, 3114, up 1; Illinois Central, 18, up %; Southern Pacific, 37, up 1%; Missouri Pacific, 11, up %; Missouri Pacific preferred, 25%, up 3%, and New York Central, 34%, up General Motors Dips General Motors slipped back to 21%, off ■%, in the early trading. Its low for the bear market of 19% was made several weeks ago. When rails continued to move higher, selling lightened In the issue and it rallied fractionally from the low of the day. Du Pont dipped more than a point, following the drop in General Motors. Steel common touched 45%, off % in the early trading, but around noon it had rallied to 45%. Other leaders moved in a relatively narrow range. Utilities were mixed, but looses were held in a fractional area. Public Interest Small Bonds moved narrowly with railroad issues in demand. United States government issues reacted following publication of the federal reserve weekly statement showing the reserve had not adopted a policy of buying the issues. The decline of $32,000,000 in brokerage loans —the twentieth successive drop in as many weeks—brought the total loan figure to a new low at $531,000,000. This indicated lack of public participation in the market and many concluded the list was not in a position to carry the rise much further without outside buying.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 21— Clearings $1,965,000.00 Debits 5,000.000.00 TREASURY STATEMENT —Jan. 22 — Net balance for Jan. 20.. .$355,765,252.78 Expenditures 7,523.961 46 Customs rects. mo. to date 19.143,401.02 New York Liberty Bonds —Jan. 21— 3'.s 94.11 Ist 4'As 98.2 4th 4'As 99.2 Treasury 4'As 100.30 Treasury 4s 96.27 Treasury 3%s 92.2 Treasury 3%s of ’47 89.18 Treasury 3%s of ’43 (March) 90.24

New York Curb Market

(By Thomson & McKinnon) —Jan. 22 — 11:00 11:00. Alum Cos of Am 57 Insull Ut 4% Am Gynamid .. 3 Vi Int Pet 10% Am Gas & Elec. 37 Midwest Ut ... 5% Am Sup Pwr.. 3 T Nat Invest .... 3% Ark Gas A 2'A Nia Hud Pwr .. 6% Ass Gas & Elec. 4% Penroad 3% Bras Pwr & Lt. 10 1 /* St Regis Paper.. 4 Can Marc 1 So Penn Oil ... 10% Cent Sts Elec.. 2% Std of Ind 16% Cities Serv .... 6 Stutz 13% Deers & C 0... 11% Un Gas A 2'% Elec Bnd & 5h..11% Un Lt & Pwr. 7% Ford of Can... 12% Un Verde 3% Ford of Eng... 5% Ut Pwr B 2% Goldman Sachs 3 United Fndrs... 2 Hudson Bay ... 2Vi .

New York Bank Stocks

ißv Thomson & McKinnon) —Jan. 21— Bid. Ask. Bankers 62% J 4Va Brooklyn Trust 192 202 Central Hanover 141 145 Chase National 37% 39*4 Chatham Phoenix Natl... 20% ?2% Chemical 32% 74'A Citv National 50 Corn Exchange 62 65 Commercial 140 '4B Continental 15% 17% Empire 24% -6% First National 1.450 1.550 Guaranty 279 Irvine 19 s # 20% ManhaXten & Cos 36% 38% Manufacturers 30% 32% New York Trust 77% 80% Public 22% 21%

Cash Grain

—Jan. 21— The bids for car lots of craln at the call of the Indianaoolis Board of Trade, f. o. b. shinning point, basis 41V4C New York rate, were: Wheat— Steady- No. 1 red. 50<SS52c: No. 2 red. 49® 51c: No. 2 hard. 49<K'51c. Corn—Easv: No. 3 white. 30® 31c: No. 4 white. 39df30c: No. 3 yellow. 28®29c: No. 4 velloov. 27® 28c: No. 3 mixed. 27ii28c: No. 4 mixed. 26027 c. Oats—Easv: No. 2 white. 21Viff22Vjc: No. 3 white. 20Va'J*21VjC. Hav—Steady. (P. o. b. country points taking 234 c or less rates to Cincinnati or Louisville). No. 1 timothy. $707.50: No. 2 timothy. $606.50. —lnspections Wheal—No. 2 red. 4 cars: No. 5 red. 1 car. Total. 5 cars. Corn— iNew) No. 3 white. 3 cars: No. 4 white. 3 cars: No. 3 vellow. 1 car: No. 3 yellow-. 13 cars: No. 4 vellow. 20 c<rs. Total. 40 cars. Oats—No. 2 white. 2 cars: No. 3 white. 14 cars: No. 2 mixed. 6 cars: No. 2 red. 1 car. Total. 23 cars. NEW YORK COFFEE RANGE —Jan. 21— High. Low. Close. March 5.83 5.75 5.83 May 5.95 5.93 5 95 July 60S 6.04 6.05 September 6 13 6.10 M3 RAW SI’GAR PRICES —Jan. 21High. Low. Close. January 1.25 1.24 1 24 March JO6 I.oa 1.05 May 1.09 1.08 08 jiw 1.14 1.13 113 ftSE? ill 1:3 1:1! In the Air Weather conditions at 9 a. m.: Northwest wind, four miles an hour; temperature, 42; barometric pressure, 30.15 at sea level; ceiling, overcast, light rain and fog, estimated, 300 feet; visibility, threefourths of a mile; field, soft. Lawmaker's Son Killed By Timet Special WARSAW, Ind., Jan. 22.—Injuries suffered in an automobile accident twelve miles east of here caused death of John L. eon of J. G. Cooper, Youngstowpjp., a representative in, congress, *f

New York Stocks (Bv Thomson St McKinnon)'

—Jan. 22 Railroad*— Prev. High. Low. 11:00. close. Atchison 92 91 91% 91% Balt dt Ohio 20% 20% 20% 20% Chess & Ohio.. 30% 29% 30 30% Chesa Corp 20 19% 19% 19% Can Pac 15% 15V* 18% 15% Cht Ort West 4% Chi N West .... 12% 12 13 12% C R I St P 15% 15 15 15 Del L& W .... 26 25% 25% 27% Del & Hudson 83 Erie 9% 8% 9 9% Erie Ist pfd 11% y 11% Ot Northern ... 22% 22% 22% 23% Illinois Central.. 17% 16% 16% , 17% Kan City So 12% Lou St Nash .... 27% 27% 27% 27% M K St T 7% 7% 7% 7% Mo Pacific 10% 10% 10% 10Vs Mo Pacific pfd.. 23% 22% 22% 22 N Y Central ... 34% 33% 34% 34% NY NH St H 30% 30 30% 30 Nor Pacific 22% 22 22 22 Norfolk St West 127% 130 O St W 8% 8% Pere Marq 11 % Pennsylvania .. 23 22% 22% 23% Reading 41 Seaboard Air L % % So Pacific 36% 35% 36 35% Southern Rv 12% 12% St Paul 3 St Paul pfd 4% 3 , St L & S F *>% Union Pacific ... 81% 80 80% 81 Wabash 32% 33„ W Maryland 7% 7% 7% 7Vi West Pacific 3 Equipments— Am Car St Fdv 8 8% Am Locomotive 8% Am Steel Fd '% Am Air Brake Sh 14% 14% Gen Am Tank ... , 31% General Elec .. 22 21 Vi 21% 22 Gen Rv Signal 26 Lima Loco Is;^ Press Stl Car 2% Pullman 23% 23% Westlngh Ar 8.. 15% 15 15 ... Westlngh Elec... 27% 27 27% 28 Rubbers— ~ Fisk % Goodyear .7.7*. 16% i|% 15% 15% Kelly Sprgfld 1% 1% 1% 1% Lee Rubber ...„ • f U S Rubber 4% 4% 4% 4% Auburn 1 *?? 147% 145 145% 146% Chrysler 14% 13% 13% 14% General Motors! . 22% 21% 21% 22% Graham-Paige 3% 3/t Hudson „ 10% *O% Hupp 4% 4% 4% 4% Marmon 1% Nash 18. 18 Packard 5 4% 4% 5 Peerless 3 % Reo 3% ... Studebaker 11% White Mot 9 9 _ Yeliow Truck 4% Motor Access— Bendix Aviation. 17 1 i 16% 16% 17% Borg Warner ... 10i. 10% 10% 10% Briggs ••• ... 9 El Auto Lite ... 30 29% 29% 29% El Storage B 31 31 Hayes Body 1% ... Houda 3 Motor Wheel ... 6Vs 6% Murray Body 6% Stewart Warner 5% 5% Timkin Roll .... 21 20 20 20% Mining— Am Metals ... 5% ... Am Smelt ... 16% 16% Anaconda Cop 10% 10% Alaska Jun .... 16 15% 15% 16‘/ 8 Cerro de Pasco 12% Dome Mines 9 8% 8% 9 Freeport Texas.. 18V4 17% 17% 18% Great Nor Ore 12% Howe Sound 14 Vi 14 Int Nickel 8% 8% 8% 8% Isl Crk Coal.. 18 Kennecott Cop 11% 11V4 Magma Cop BVi BVi Noranda 14 13% 13% 14 Texas Gul Sul.. 24% 24% 24% 25 U S Smelt i. ... 16 Oils— Amerada ... ... 13% Am Republic 2% Atl Refining 9% 9% Barnsdall 4% 5 Houston 4 Indian Refining 1% Mex Sbd 7% Mid Conti 5% Ohio Oil 6% Pan-Amer (B) 19 Phillips 4% Prairie Pipe 7% Pr Oil & Gas 5% Pure Oil 4% Roval Dutch 16 16 Shell Un 3% Simms Pt 4% Sinclair 5% 5% Skelly 3% Standard of Cal 25% 25 25 25V4 Stand of N J . . 29 28% 29 29 Soc. Vac 10 9% 10 10 Texas Cos 13Vi 12% 12% 12% Union Oil 12% Steels— Am Roll Mills 91 i 10 Bethlehem 21% 20% 20% 21'/.* Byers AM ... 14% 14% Cruc Steel 21 21% Ludlum 5 5 McKeesport Tin 51 50% 50% 51% Midland ? Rcpub X & 5.... 5Vi 5% 5Vi 5% U S Steel 46Vi 45% 45% 45% Vanadium 14% 15 Tobaccos— Am Tob (A) New 77% 76% Am Tob (B)New 7914 78 78 79 General Cigar... 34 33% 34 ... Lig & Myers B 58 57 57 58% Lorillard 1414 14% Phil Morris ... , 8% Reynolds Tob ... 36" g 36% 36% 38% Std Com Tob jj Tob Pr A 7% Tob Pr B 3Vi 3% 3% 3% Utilities— • Abltibi if% Adams Exp ... 5 5 Am For Pwr ... 8% 7% 7% 8 Am Pwr St Li... 15% 15 15 15 AT&T 120% 119% 120% 121% Col Gas & E 1... 14 13% 14 14 Com & Sou 4% 4% 4% 4% Cons Gas 62% El Pwr & Li.... 12Vi 12% 12% 12% Gen Gas A 2 2 Inti TANARUS& T 10 9% 10 10 Lou Gas &El ... 21% 22 Natl Pwr & Li.. 14% 14% 14V* 14% No Amer Cos ... 34% 34% 34% 35 Pac Ser N J .... 56 55 55 55% So Cal Edison 32 31% Std G & F.l 30% 30% United Corp .... 9% 9% 9% 9% Un Gas Imp ... 19% 19% 19% 19% Ut Pwr & L A 10 10 West Union 42 Vi 44 Shtoping— Am Inti Corp 6% 6% N Y Ship 4% No Gm Lloyd 8 United Fruit 24 24 Foods— Am Sug 28% Armour A 1% Cal Pkg 9% Can Dry 12 Vi Childs Cos 6% ... Coca Cola 113% 112 113 H 2 Cont Baking A 6V4 Corn Prod 43 '.3 Cudahv Pkg 33 Gen Foods .... 34% 34% 34% 35 Grand Union 7% Hershev 80 Kroger 14% Nat Biscuit 42% 42Vi 4214 42% Natl Dairv ... 25 24% 24% 24% Purity Bak ... 13% 13% 13% 13% Pillsburv ... 21 Safeway St Std Brands 13% 13% 13% 13% Drugs— Cotv Inc 3V4 3% Drug Inc ... 54 53% Lambert Cos 52% 52% 52% 52% Lehn & Fink 22*% Industrials — Am Radiator... 6% 6% 6% 6% Gen Apshalt 15% Otis Elev 21% Uten 2% Indus Chems— Air Red •••.. •••., 82% Allied Chem ... 72% 71% 72% 72% Com Solv 8% 8% Dimont 55 53% 54 50% Union Carb ... 32% 31% 31% 3. vs U S Ind Alco 27 27%

Net Changes

By United Press NEW YORK, Jan. 21.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Up. Off. Allied Chemical 72% ... Vi American Can 63% % ... American Telephone 121*4 ... % Auburn 146% ... 1% Bethlehem Steel unchanged. 21'A Case 41% ... % Chrysler 14% ... % Consolidated Gas unchanged 62V Du Pont unchanged 55% Electric Power unchanged. 12% General Electric 22 ... % General Motors 22% ... % International Telephone ... 10 ... % Kennecott 11% ... V Montgomery Ward unchgd.. 9% .# N Y Central 34% ... % North American unchanged. 35 Paramount 10% % ... Pennsylvania 23% % ... Public Service 55% ... % Radio . 8 ... % Sears Roebuck 35% ... % Stand Oil N J 29 % ... Texas Corp 12% % ... Union Carbide 31% % ... U S Steel 45% % ... Vanadium 15 % ... Westhouse El unchanged ..28 Woolworth 41% ... %

Investment Trust Shares

(By Gibson & Bernard) PRICES ARE TO 12 NOON C. S. T. —Jan. 21— . _ . Bid. /sk. Am Pounders Corn com 1 1% Am & Gen Sec A 4>i Am Inv Tr shares 2'* ‘ 2Vfc Basic Industry shares 2vJ Collateral Trustee shares .A... 4‘* 444 Cumulative Trust shares .. ?>i 4 Diversified Trustee shares A.. 7 ! * Phced Trust Oil shares 2*4 .. Fixed Trust shares A 7V . Fundamental Trust shares A . 3*. 4 l Fundamental Trust shares B. . • * Leaders of Industry A 3 5 Low Prices shares 3S 4 Nstlon Wide Securities r 3 * 53,S 3, Selected America nsbares ... 2 3 2 3 4 Selected Cumulative shares. .. 6' Selected Income shares 3\i Shawmut Bank Inv Trust ..I 3 Std Am Trusts shares ...... 3Vi 344 Super Coro of Am Trust shares 3 1 * 3% Trustee Std Oil A... 3V ... Trustee Std Oil B ■. 3H 4 Unified Serrice Trust a'tiares A. 2% 3 Safe i;4

Retail Stores— Assoc Dry Gds .. ... ... 7% Gimbel Btos • -2% Kresge S S ... 17 17% Mont Ward .... 9% 8% 9 9% Penny J C ••• 27 * 27% Schulte Ret St.. 3% 3% 3% ... Sears Roe 35% 35 3a 35% Woolworth .... 42% 41% 42 41% Amusements— Crosley Radio •• j Eastman Kod ... Ba% 86% Fox Film (A*.. 4% 4% 4% 4% Grigsby Grunow 1% 1% Loews Inc 28% 28% 28% 29 Param Fam .... 10% 10 10% 10% Radio Corp 8 8 R-K-O 6 S% 5% 5% Warner Bros ... 3% 3% 3% 3% Miscellaneous— City Ice & Fu 27 Congoleum 9% Proc & Gam 41% 40% 40% 41% Allis Chal 12% Am Can 63% 62% 63 64% J I Case 42 41 Vi 41% 41% Cont Can 36 Vi Curtiss Wr 1% 1% 1% 1% Gillette S R 13% 13 13 13 Gold Dust 17% 18 Int Harv 27 26% 27 26% Int Bus M 104 Vi 107% Real Silk 33 Un Aircraft 14% 13% 14% 14%

WEEKLY LIVESTOCK REVIEW

FOR WEEK ENDING THURSDAY. JAN. 2L By U. S. Dept of Agriculture —C attle— Last week almost all interested parties exhausted their vocabulary in an effort to portray the irregular and unsatisfactory market for that period. This weex has been different in only one respect. It has been worse. Most of the contributing factors to last week’s sluggish movement of live and dressed meats were conspicuous this week, and probably more Intense than heretofore. Warm weather stayed with us and there was little relief if any along the eastern seaboard. Consequently. fresh meat prices took another nose dive with the expected reflection in live prices. Marketings Ih general were held within reasonable limits, slightly less than last week, but not enough to offset other influences. Practically all terminal markets reported a scarcity of highly finished steers, acceptable for the upper crust of eastern consumption. Such kinds are out of the picture at most markets, with the possible exception of Chicago, and substitutions have proven unsatisfactory to buyers and sellers alike. Shippers had orders this week for strictly choice steers of value to sell above $9, but with such kinds conspicuous by their absence. the movement through that channel was almost negligible. Supplies for the period consisted mainly of common, medium and near good descriptions to sell from $4.75 to $6.75. Some desirable medium weights cashed from $5.50 to $6.40 and lighter offerings ranging in weight from 1,050 pounds cleared generally from $4.50 to $6.65. Outstanding among the week’s sales were 1,070-pound lightweights at $7.50, a few yearlings at $8.50 and a load of 1,385-pound bullocks at $6.40. Briefly stated, steer trade for the week shows a loss of 25 to 75 cents with the average reduction 50 cents or more. Heifers took the full steer downturn and then some and now seem to be selling at ridiculously low levels. Cows lost 25 to 50 cents, usually around 25 cents. Good and choice grades w'ere punished most severly. Low cutters and cutters closed the week with a slight loss, bulk $1.50 to $2.75, not many above $2.50, and only old shells under $1.75. Heifers bulked from $3.50 to 5.50 with a distinct minority from $6 to $7. Fat cows cleared generally from 3 to $4, practical top $4.25, not many above $3.75 at the close. Vealers held to last week’s prices until Monday when a 50-cent advance was effected, bringing the top to $9. This position has been retained and good and choice handyweights cleared today from $8.50 to $9. Some weakness developed on lower grades selling downward from $7.50. Hogs Local statisticians and “old timers’’ are still searching their records and memories for a time when hog prices were lower than at present. During the week, the fresh pork trade suffered as much or more than the beef trade and of course for the same reasons. Movement through major markets showed a noticeable contraction, but not enough to offset other influences, especially warm weather, at a time when consumption should be relatively high. Last week. 160-to-300-pound averages bulked at [email protected]; top $4.30, and comparable weights today ranged from $3.30 to $4.20. top $4.25, a net loss of 5 to 20 cents. On a day or two during the period a slight advance was recorded and Monday’s top was advanced to $4.35. Subsequent price reversals absorbed all the advance and more, so that the week's storv i:> just a repetition of the old downward trend In hog prices. Underweights and light lights lost another quarter and closed at 3.75 to $4. Packers operated freely during the week and probably accumulated more than half of the available supply. Shippers were hampered to some extent In their operations by relatively high prices, in comparison with other markets from which needed supplies were obtainable. At anv rate, daily clearances were for the most part satisfactory and the drift of prices downward. * —Sheep—. Fed western lambs continued to comprise the bulk of supplies. Prices were reasonably satisfactory but not up to last week’s levels. Last Thursday top of $6.40 was recorded and this was advanced to $6.60 Friday. On Tuesday a few small lots reached $6.75, with most good kinds around $6.50. Wednesday, $6.25 stopped the best and today nothing has been reported above $6, although numerous loads are held firmly above that figure. For the week, fed westerns bulked from $6 to $6.50. extreme top $6.75; natives generally $5.75 to $6, a few to $6.25; mixed and unsorted offerings $5 to $5.50, common and medium 53.50 to $4.50. Fat ewes sometimes beat $2.50 but these kind are scarce and most offerings sell downward from $2.25.

Produce Markets

Eggs < country run I—Loss off delivered in Indianapolis. I2c: henerv quality -No. 1. 14c: No. 2. 9c. Poultry ipuying prices)— Hens weighing 5 lbs. or over. 15c: under 5 lbs.. 14c: Leghorn hens, 10c: broilers, lull feathered. 3Vi lbs. and uuo. 12c: barbeback. 9c: Leghorn broilers. 10c: soring chickens, 5 lbs. and up. *3c: under 12c: old cocks. 7c: ducks, full feathered. 9c: geese 6c. These prices are for No. 1 too oualitv auoted bv Kingan & Cos Butter (wholesale)—No. 1. 26(227c: No. 2 25®26c. Butterfat—23c. Cheest (wholesale selling price per pound)—American loaf. 23%c: pimento loaf. 25%c: Wisconsin firsts, 19c; Longhorns. 19c: New York liberger. 30c. By United Press CHICAGO. Jan. 22.—Eggs—Market, steady; receipts. 4.594 cases: extra firsts, 16 3 /ic; firsts, 15 3 /4®l6Vic: current receipts* 14(5 15c: seconds. ll@l3c. Butter—Market, weak: receipts, 8.733 tubs: extras. i2e; extra firsts. 21 , / 2 @21%c; firsts. seconds. 20V 2 (f?)20 3 /4c: standards. 22c. Poultry—Market, steady: receipts, no cars in. 1 due: fowls. 16c: springers. 16c: Leghorns,. 13c: ducks. 17@20c: geese, ',3c; turkeys. 15@20c: rooster. 10c. Cheese — Twins, 12c; young Americas, 12Vic. Potatoes—lOn track. 239: arivals. 96; shipments. 781: market, dull: Wisconsin Round Whites. 75@80c: Idaho Russets. sl.so'<il.6C; Nebraska triumphs. 11.10; Colorado McClures. 11.35&1.45. Bn United Press NEW YORK. Jan. 22.—Potatoes —Market, dull; Long Island. [email protected] barrel: southern, $1.50(82.25 crate: Idaho. $2.25®2.50 sack: Bermuda, $6®9.50 barrel: Maine. 51.50572 barrel: Canada. [email protected] barrel. Sweet potatoes—Market, dull: Jersey baskets. [email protected]: Southern baskets. 50® 70c: Southern barrels. 75c@$l. FlourMarket, auiet; spring patents. $4.40554.65. Park—Market, steadv: mess. $17,50. Lard —Market, auiet: middle west spot. $5.60® 5.70 per 100 lbs. Tallow —Market, auiet: special to extra. .02% @.o2T*c. Dressed poultry—Market, weak: turkeys. 21@30c: chickens. 15@33c: fowls. 10(ff24c: broilers. 15@27c: capons, 18@34c: ducks. 10#19c: Long Islands ducks, 19c. Live poultry— Market, steadv: geese. ll@20c: ducks. 11& 27c: fowls. 15® 19c: turkeys. 18 n 32c: roosters. 10c: chickens. 13®19c: broilers. 12®23c: canons. 14@30c. Cheese—Market, steadv: state whole milk fancy to specials. 12© 18c; young America, 13@13Vic. By United Press CINCINNATI. Jan. 22.—Butter—Steady; creamery in tub lots according, to score, 17®21c; common score discounted 2<g3c; packing stock No. 1. 18c; No. 2 12c: No. 3.8 c; butter fat 18®20c. Eggs—Firm; cases included; extra firsts, 15Vi; firsts, 14'jc: seconds. 12'ic: nearby ungrade, 15c. Live poultry—Thin and coarse stock sells only at heavy discount: fowls. 5 lbs. and over, and over. 15'ic; Leghorns, 3 lbs. and over, 14c; roosters, 9c; broilers, colored. 1 lb. and over. 19c; l'a lbs. and over. 19c; 2 lbs. and over 19c: fryers, 3 lbs. and over. 17c; partly feathered. 12c: Leghorn broilers, 1 lb. and over. 15c: lVfe lbs. and over. 15c; 2 lbs. and over, 12c: Leghorn stags, 10c; colored stags. 12c; black springers, 10c: roasting chickens. 4 lbs. and over. 18c; ducks, under 3 lbs. sell at liberal concessions: ducks, white, 4 lbs. and over, 14c; under 4 lbs.. 11c; colored, 4 lbs. and over, 14c; under 4 lbs., 11c: capons. 8 lbs. and over. 25c: under 8 lbs.. 19c: slips, 15c; turkeys. No. 1 hens, 8 lbs. and over, 27c; young Toms No. 1. 10 lbs. and over, 22c. By United Presi CLEVELAND. Jan. 22.—Butter—Extras. 27c; starydards. 37c; market, weak. Eggs— Extra firsts, 16V 2 c: current receipts. 15Vi@ 16c; market steadv. Poultry —Heavy fowls, 19c: medium, 18c: Leghorn. 15Q16c; smooth springers, 16@18c; ducks, 20c; turkevs. 25c; geese. 15c; stags. 14c; market. quiet. Potatoes—Ohio best mostly. 50 ®sse: culls 40c per bushel; Maine Green Mt.. sl.lo® 1.15. few $1.20 per 100 lb. sack: Idaho Russet large. $2.15®2.25: medium to large. $1.95®2 per 100-lb. sack.

Chicago Stocks Opening (By James T. Hamill & Cos.! —Jan. 22 Bendix Avia .. x7V> Insull com 4V4 Central 111 .... I l 4< Insull nfd .... 10 Cent So Wst.. 5VInsUl 6‘s ’40... 28*4 Cities Serv .... 6 iMiddle West ... 5% Cont Chi com... 2 ]Nafl Sec pfd ... 36 Comm Kdlson ..USH Sed Utilitiea.... 18 ; 4 Chjto Sec ...... 1% Swift InU ..... 21-)i Gt it* Axctt... aailp a am/- tH.\ , m

THE INDIANAPOLIS TIMES

SWINE MARKET RE6AINS PART OF REGENT DIP Peddling Action Features Cattle Trade; Sheep Weaker. Hogs moved up slightly this morning at the Union Stock Yards, regaining a small part of recent declines. The market ranged from 5 to 15 cents higher than Thursday's average. The bulk, 100 to 325 pounds, sold for $3.75 to $4.35, early top holding at $4.35. Receipts were estimated at 2,000; holdovers were 479. A slow peddling trade at the week’s decline featured cattle this morning. Receipts were 200. Vealers were unchanged at $9 down. Calf receipts were 300. Sheep tended lower with early sales around $5.75 to $5.85. Some were held as high as $6. Receipts were 1,200. A few early bids and sales at Chicago wire fully 10 cents higher on hogs. Good and choice 210 to 230-pound weights brought $3.95 to $4.15. Receipts were 27,000, including 8,000 direct. Holdovers were 6,000. Cattle receipts were 1,000; calves, 500. The market held steady. Sheep receipts were 10,000, 25 cents up. HOGS Top. Bulk. Early Top. Receipts. 16. $4.00#? 4.40 $4.40 1,500 18. 4.00#? 4.55 4.55 4,500 19. 4.00® 4.40 4.40 7.500 20 3.80® 4.25 4.25 5,500 21. 3.70® 4.20 4.25 4,000 22. 3.75® 4.35 4.35 2.000 Receipts. 2,000; market, hiher. 1140-160) Good and choice....s 4.00 —Light Lights—-(l6o-180) Good and choice.... 4.30® 4.35 —Light Weights—-(lßo-200) Good and choice... 4.30® 4.35 (200-220) Medium and g00d... 4.25® 4.30 —Medium Weights—-(22o-250) Good and choice... 4.05® 4.30 (250-290) Medium and g00d... 3.35® 4.00 —Heavy Weights—-(29o-350) Good and choice... 3.65® 3.90 —Packing Sows — (350-500) Medium and good.. 3.00® 3.40 (100-130) Slaughter pigs 3.75 —CATTLE— Receipts, 200; market, steady. Good and choice ...$ [email protected] Common and medium 3.25@ 6.00 (1.100-1,800) Good and choice [email protected] Common and medium 4.50@ 6.25 —Heifers— , (500-850) Good and choice 5.50@ 8.00 Common and medium 3.00® 5.50 —Cows — \ Good and choice 3.50® 4.50 Medium 3.00 @ 3.50 Cull and common 1.50@ 3.00 —Bulls (yearlings excluded) Good and choice beefs 3.00@ 4.50 Cutter, common and medium.. 2.00@ 3.00 CALVES AND VEALERS Receipts, 300; market, steady. —Vealers— Good and choice $ 8.50@ 9.00 Medium 6.50® 8.50 Cull and common 4.50® 6.50 —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® 4.23 SHEEP AND LAMBS Receipts, 1,200; market, lower. Good and choice $ 5.50@ 6.00 Common and medium 3.00® 5.50 Ewes, medium and choice.... 1.50@ 2.50 Cull and common 50@ 1.50 Other Livestock By United Press CHICAGO, Jan. 22.—Hogs—Receipts, 27,000, including 8,000 direct; active 10c higher; 170-210 lbs., [email protected]; top $4.20; 220-250 lbs., $3.85® 4.05; 260-300 lbs., 53.75®.3.85; 140-160 lbs., $3.75@4; pigs, [email protected]; packing sows, [email protected]; light lights, 140-160 lbs., good and choice, $3.95® 4.20; 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, [email protected]; slaughter pigs, 100-130 lbs., good and choice, [email protected]. Cattle— Receipts, 1,000; calves, receipts, 500; cleanup trade at about steady prices or. all classes; most short fed steers and yearlings, $4.25©6.50; no good or choice grades offered; slaughter cattle and vealers: steers, 600-900 lbs., good and choice, $6.50® 10.50; 900-1100 lbs., good and choice, $6.50®, 10.50$ 1100-130 lbs., good and choice, [email protected]; 1300-1500 lbs., good and choice, [email protected] 600-1300 lbs., common and medium, [email protected]; heifers, 550-850 lbs., good and choice, ss@7; common and medium, s3@s; cows, good and choice, [email protected]; common and medium, $2.75@ 3.50; low cutter and cutter, [email protected]; bulls, yearlings excluded, good and choice beef, [email protected]; cutter to medium, $2.50@ 3.85; vealers, milk fed, good and choice, [email protected]; medium, s6@7; cull and common, 53.25®6; stocker and feeder cattle: steers, 500-1050 lbs., good and choice, $4.50@ 5.50; common and medium, [email protected]". Sheep—Receipts, 10,000; steady to strong with Thursday’s close; buyers resisting sharply higher asking prices; good to choice lambs, $5.50@6; best held above $6.25; slaughter sheep and lambs: lambs 90 lbs. down, good and choice, $5.50®.6.25; medium, [email protected]; all weights common, $4®4.50; ewes, 90-150 lbs., medium to choice. [email protected]; all weights cull and common, [email protected]; feeding lambs, 50-75 lbs., good and choice, [email protected]. By United Press . EAST BUFFALO, Jan. 22.—Hogs on sale 2,700; dependable trade; generally 10c to 15c over Thursday’s average; bulk 160-210 lbs $4.60; few, $4.65; 220-255 lbs.. $4.25 @4.50; weights below 140 lbs., $3.85(5.4.25. Cattle—Receipts, 250; holdovers, 150; little done on steers and heifers; one load common to medium 25c lower at $5.25; cufter cows weak at [email protected]; fat cows dull at $3.25®3.50. Calves—Receipts, 700; vealers active; steady $lO down. Sheep—Receipts 3,400; lambs largely 25c lower; rather slow at decline; good to choice wooled lambs $6; mostly $6.25; few. $6.35; 100 lbs. fat lambs, $6; common and piedium, ss® 5.50. By United Press CLEVELAND, Jan. 22.—Hogs—Receipts 1.300: holdover, none; little done; bid steady; few sales 5c to 15c higher: ton $4.50 on 150-230 lbs., “40-300 lbs held $4.15; nigs, inactive. Cattle—Receipts 200slightly more active mostly to small killers on common, $4.25 to $4.75; light weight steers look 50c or more under Mondaymany unsold; scatered cows 25c to 50c down from mid week; low cutter to common. [email protected]. Calves—Receipts, 200; steady; vealers, $9.50® 10: scattering $10.25 and above; cull to medium, s7@9. Sheep —Receipts, 700; steady to easier; lambs $6.25©6.50; cull to medium, [email protected]. By United Press LAFAYETTE. Ind.. Jan. 22.—Hogs —Market. 5610 c higher: 160-200 lbs.. 54.10-220-225 lbs.. $4: 225-235 lbs.. $3.90; 235-250 lbs, $3.80: 250-275 lbs.. $3.70: 275-300 lbs. $3.60: 300-325 lbs.. $3.50; 140-160 lbs., $3 60 : 100-140 lbs.. $3.40: roughs. $2.75 down: top calves, $8: ton lambs. $5.50. By United oress FT. WAYNE. Jan. 22.—Hogs—Market steady to 15c lower; 100-140 lbs.. S3 25 : 140-160 lbs.. $3.90: 160-200 lbs.. $4.15. 200225 lbs.. $4.05: 225-250 lbs.. $3.95: 150-275 lbs.. $3.85: 275-300 lbs.. $3.75; 300-350 lbs $3.65: roughs. $2.75; stags. $1.50; calves. S9: lambs. $5. By Times Special LOUISVILLE. Jan. 22.—Hogs—Receipts, 750; 10c higher; 175-240 pounds. $4.35; 240-300 pounds. $4.05; 300 pounds up. $3 45175 pounds down, including pigs, *:, 95 : packing sows. [email protected]; stags. $2.20. Cattle —Receipts. 150; steady; bulk, medium and good slaughter steers and heifers, $4.50© 6; best slaughter cows. $4: bulls mostly *3.50 down; stockers and feeders, s3@s. Calves—Receipts. 250; steady: extreme ton. $8; bulk vealers *7® 7.50: out vealers. $5.50 down. Sheep and lambs —Receipts. 100; steady; top fat lambs, $6: buck lambs. $5; throwouts, *3 50 down; fat ewes. *2.50 down. Thursday's shipments: Cattle, none; calves, nonehogs, none, and sheep, none. By United Press TOLEDO. Jan. 22—Hogs—Receipts. 200: market. 20c higher on lights; heavies, $3 25 6 3.75. Cattle—Receipts. 40; market slow 50c lower for week. Calves—Receipts’ light: market. 50c lower; too, $9. Sheep Receipts, light; market 25c lower; top *5.75. K

Zaiser & Zaiser Incorporated Brokers Stocks and Bonds 129 E. Market Lincoln 9373 Lincoln 2167

BELIEVE IT or MOT

j ■ts I9S2JK rrttnrr* KSmi Brinfn right* il| jj l|g| JOHMSOM f |jj The Clifford sifton-(s river steamer Traveled a mile /n 4 minutes 'lljjffif* jSSf TEAMS V. VflTrt ALL ENGINES RUNNING IN REVERSE ! | th hilts Canyon Ml# Wjffle Hoest 0.0, ISAM ORGANIST a CARP WEIGHING 90LBS. * _ WORLD RECORD • UJAS CAUGHT fN Zog iAKepUfy

Dow-Jones Summary

Department store sales in New York and Newark for first twelve shopping days of January declined 161-10 per cent from like period of 1931. Freeport Texas Company declared a dividend of 50 cents, payable March 1, of record Feb. 15, placing stock on $2 annual basis, against $8 previously; preliminary net income for 1931 shows earnings of $3.26 a share on common stock, against $4.28 a share in 1930. Net life insurance sales in December totaled $1,117,187,000 against $1,112,173,000 in December, 1930. Insolvencies in United States in 1931 totaled 28,285 with liabilities of $736,309,102 against 26,355 with liabilities amounting to $668,283,846 in 1930, according to R. G. Dun & Cos. NEW YORK cables opened In London at 3.45%, against 3.46%: Paris, checks 87.812; Amsterdam, 8.595; Italy. 68.875, and Berlin 14.625. United Bakeries Inc. in six months ended Dec. 31, 1931, net income amounted to $91,271 after interest, depreciation, federal taxes, etc., equal to sl.Ol a share in 90,000 shares a class A stock, against $135,065 in six months ot preceding fiscal year equal to $1.50 a share on like number of class A shares. Ward Baking Corporation and subsidiaries in year ended Dec. 26, earned 66 cents a share on class A common stock, against 26 cents in 1930. Broker loans reported by New York federal reserve banks decreased $32,000,000 in week ended Jan. 20 to $531,000,000 anew low; nonbrokers’- loans increased $24,000,000. Hobart Manufacturing Company declared a dividend of 50 cents, placing stock on $2 annual basis, against $2.50 previously; dividend payable March 1, of record Feb. 15. S. S. White Dental Manufacturing Company declared a dividend of 10 cents, placing stock on a 40-cent annual basis; dividend payable Feb. 1, of record Jan. 20. Dally average volume of federal reserve credit outstanding in week ended Jan. 20 was $1,838,000,000, a decrease of $49,000,000 from preceding week, but an increase of $77,000,000 over like week of 1931. Robbers Sentenced By United Press VINCENNES, Ind., Jan. 22. A series of gasoline station robberies in Chicago, West Baden and Petersburg, Ind., was confessed here by Vance Varner, 21, and William Bocard, 20, and each was sentenced to a ten-year term in the state reformatory by Judge W. F. Caverly. Authorities said four other persons are implicated in the holdups.

Yesterday . ... 2,303 Persons In Indianapolis Bought $3,739,128.00 of Life Insurance - V

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

Following is the explanation of Ripley’s “Believe It or Not,” which appeared in Thursday’s Times: A Razor 3,500 Years Old—The razor thirty-five centuries old, with which Kar.’ Ludwig Messing shaves every morning, originally belonged to King Thutmosis 111 who ruled Egypt in the sixteenth century B. C. It was brought to Europe by an ancestor of the present owner, who was a member of a German sicentific commission active in Egypt about ninety years ago. The razor, made of bronze alloy, has a perfect shaving edge, although it has been used by three generations of the Messing family. It is not known how the ancient managed to temper bronze to a razor effect. The secret may nave been in the alloy used, aided by a process of patient hammering. Saturday: “The Singing StrongMan.” Other Livestock By United Press PITTSBURGH. Jan. 22—Hogs—Receipts, 1,800; market, steady, 10c higher; 160-220 lbs., [email protected]; 240-300 lbs., [email protected]: 130-160 lbs., [email protected]; lighter weight, $3.50 @4; packing sows, 15@25c higher; bulk, [email protected]. Cattle—Receipts, 30; market, nominal. Calves—Receipts, 100; market, stronger, 50c higher; bulk better grade vealers, $8@10; medium kind, [email protected]. Sheep—Receipts, 100; bidding fully 25c lower on lambs; indication better grade $5.75® $6.25. By United Press CINCINNATI, Jan. 22.—Hogs—Receipts, 3,600, including 1,700 direct; held over 180; opened 10®20c higher on weights scaling downward from 225 lbs.; late trade draggy; heavyweights tapering down to a steady basis; better grade 160-230 lbs., [email protected]; early sales mostly $4.60 on around 220 lbs. down; heavier weights very uneven; some 235-270 lbs., [email protected]; 260 to around 300 lbs., $3.75®4.10; bidding $4 on 120-150 lbs.; sows mostly $3; lightweights. $3.25. Cattle—Receipts, 750; calves, 250; steers and heifers very dull at weak to 25@50c decline; bulls weak to 25c lower; cows steady to weak; scattered sales common and medium steers and heifers, [email protected]; beef cows. [email protected]; low cutters and cutters mostly [email protected]; bulls $4 down; vealers weak to $1 or more lower; good and choice, B@9; lower grades on catch-as-catch-can basis, largely downward from $7. Sheep—Receipts. 200; slow. Weak, quality only fair; better grade lambs quotable [email protected]; common and medium, [email protected]; sheep steady, $2 down. By United Press EAST ST. LOUIS. Jan. 22.—Hogs—F.eceipts. 6.500: market, steadv to 10c higher: extreme ton, $4.25: 1250-220 lbs.. $4.10® 4,20; 130-300 lbs., $3.75@4; pigs. $3.75@4; sows. [email protected]. Cattle—Receipts 600: calves receipts, 500; market, vealers. 25c lower at $8.50; other classes in verv light supply, and about steady in clean-up trade: fat mixed yearlings and heifers, $4.50® 4.50; cows. *[email protected]: low cutters. $1.50® 2: medium bulls, auotable downward from $3.75. Sheep—Receipts. 1.000: market, slow; indications steadv: probablv bulk des'rabie lambs. [email protected]: best holding around $6 and above: throwouts. *3.50®4; fat twos, *3 down: lambs. 90 lbs. down, good and choice. $5.25®6; medium. [email protected]: all weights, common. [email protected]: ewes. SO-150 lbs., medium to choice. $1.50®2: all weights cull and common. *[email protected].

If Registered O. ft. U 1 Patent Office RIPLEY

Bright Spots of Business

By United Press WASHINGTON. Jan. 22.—Chinese purchases of American cotton so far this season total 693,000 bales compared with 214,000 bales a vear ago. according to report of the commercial attache at Shanghai. CLEVELAND —Ohio State Life Insurance Company declared an extra dividend of $2 a share. NEW YORK —Earnings of Dow Chemical Company for eight months to Jan. 31, will more than cover requirements J. P. Pardee, secretary, said. YOUNGSTOWN —Steel nroduction in the Youngstown district continued to gain with Carnegie Steel Company operating at close to 50 per cent of capacity. NEW YORK—The Pacific Gas and Electric Company expects to have this year additional revenue of $7,816,829.

In the Cotton Markets

(Bv Thomson & McKinnon) NEW YORK, Jan. 21.—The cotton market was 5 or 6 points higher this morning without any particular reason. Business has been in less volume since the reaction started at 7 cents for the May contract. Business in dry goods seems to hold recent improvement very well, as while there is talk about mills cutting production, the changes we see on the news tickers are the other way about. We understand the Mississippi acreage reduction law has expired automatically. Since it was just another artificial attempt, perhaps it is just as well. The south, aided by present prices, seems to be fairly well in control of the situation and certainly loses no ground as more and more cotton passes on from the farms. We see no reason for selling cotton as a trading proposition. CHICAGO —Jan. 21— High. Low. Close. January .’ 6.68 March 6-80 May 6.99 6.94 6.94 July 7.15 7.13 7.13 October 7.36 7.32 7.32 NEW YORK High. Low. Close. January 6.65 6.60 6.62 March 6.74 6.(58 6.70 Mav 6.90 6.84 6.85 July 7.07 7.01 7.03 October 7.0 7.24 7.26 December 7.46 7.41 7.42 NEW ORLEANS High. Low. Close. January 6.63 6.59 6.59 March 6.73 6.67 6.67 Mav 6.90 6.85 6.35 July 7.06 7.00 7.00 October 7.24 7.19 7.19 December 7.40 7.35 7.35

JAN. 22, 1932

FUTURE PRICES MOVE DOWN IN LIGHTTRADING All Grains Dip on Weakness in Securities; English Mart Higher. BY HAROLD EL RAINVILLE United Press Staff Correspondent CHICAGO, Jan. 22. Wheat opened about steady on the Board of Trade today with scattered selling on the easiness in stocks more than offsetting the steadiness at Liverpool. A much better demand from Japan and China gave the English market support. Trade was very light at the start. Corn sagged with wheat, ignoring firmless in Buenos Aires. Oats was easy with the major grains. At the opening wheat was unchanged to H cent lower; corn was unchanged to % cent lower, and oats was % cent down. Provisions were steady. Liverpool was slightly better than expected, with prices unchanged to pence lower at mid-afternoon, equal to % cent lower to % cent higher. Corn was strengthened for a time Thursday by the report that Argentinue com was being damaged by drought, but the market lost its rally when wheat weakened. Conditions in parts of the belt have been lowered by the continued warm, damp weather. Temperatures in lowa and parts of Kansas and Nebraska were much lower this morning, however. Oats developed independent strength at times, but it does not remain, as there is no encouragement toward increased buying. The cash market moved slowly, although sales at times are much better than in corn. • Chicago Grain Range —Jan. 22 WHEAT— Prev. High. Low. 11:00. close. Mar 57% Mav 60 .59% .59% .59% Julv 59% .59 .59% .59% Sent 60% .60'% .60% .60% CORN— Mar .38% .39% Mav 41%/ .41 .41% .41% July .42% .42% .42% Sept 43% .43% .43% .44 OATS— Mar 25 U Mav 26% .26 .2* .26% July 25% .25% .25% .25% RYE— May 47% .47% July 47% .47% Sept 48 LARD— Mar 5.42 5.40 May 5.55 5 55 July .. 567 By Times Special CHICAGO. Jan. 22.—Carlots: Wheat. Hi corn, 110: oats. 30: rye. 2, and barley. 9. By Times Special CHICAGO, Jan. 21.—Primary receipts; Wheat, 641,000, against 1,016,000; corn 373,000, against 628,000; oats 159.000 against 154,000. Shipments: Wheat 415,000, against 547,000; corn 156.000, against 413,000; oats 59,000, against 302,000. By United Press TOLEDO, Jan. 21.—Cash grain close: Elevator prices: Wheat—No. 2 red, 62@63c. Corn—No. 2 vellow. 40%@41%c. Oats— No. 2 white, 29 , /a6 30%c. Rye—No. 2,50 c. Grain on track. 28'/aC rate: Wheat—No. 2 red, 57@57%c; No. 1 red, 1 cent premium. Corn —No. 2 vellow, 366 36%c; No. 3 yellow. 34634'/aC. Oats—No. 2 white. 26‘/a@ 27%c; No. 3 white. 25®26%c. CloverPrime. *8.75; February. $8.85; March. $9. Alsyke—Cash, $8.75: February. $8.85; March. $9. Butter—Fancy creamery. 25® 28c. Eggs—Extras. 16@16%c. Hay Timothy, per cwt. sl. By United Press CHICAGO, Jan. 21.—Cash grain close; Wheat—No. 4 red. 58@58%c; No 3 hard. 58 %c; No. 3 yellow hard, 58 %c; No. t northern. 69%c; No. 2 northern poor, 62%c: No. 4 mixed. 58c. Corn—No. 3 mixed 38c; No. 4 mixed, 37'/ac; No. 2 yellow. 39% @4o%c; No. 3 vellow, 38@39c; No. 4 yellow, 37c; No. 2 white, 38%@38%c; No. 4 white, 37% 6 38c. Oats—No. 2 white, 25% @27Vic (latter fancy); No. 3 mixed, 24% 6 26c. Rye—No. 3.56 c. Barley—42® 48c. Timothy—[email protected]. Clover—sß@ls.

Local Wagon Wheat

City grain elevators are paving 48c for No. 2 red wheat and 48c for No. 2 laid wheat.

Specialists In Unlisted Securities Edw. W. Zaiser Securities Corporation 414 Continent*! Bank Bldft. Riley 4043

James T.Hamill & Company Private Wires to AH Leading; Market* Indianapolis MEMBERS Chicago Stock Exchange Chicago Board of Trade Indianapolis Board of Trade Associated New York Curb 203 Continental Bank Bldg. Te!., Riley 5493—K11ey 5494