Indianapolis Times, Volume 43, Number 232, Indianapolis, Marion County, 5 February 1932 — Page 18

PAGE 18

STOCK ISSUES DRIFT OFF IN DULL SESSION Break in Rails Is Watched for Indications of Market Trend.

Average Stock Prices

_ Average of thirty Industrials for Thursdav i7.66. off .60. Average of twenty rails - 66 - Average of twenty utilities 31,32. oil .17. Average of forty bonds 79.00. of! .08. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Feb. s.—With little ncreasc in activity, the stock market turned definitely lower today, frith pressure converging on the railroad division, where losses ranged to more than 3 points. Selling in this group followed word that the Pennsylvania railroad was to apply for a loan from the Reconstruction Finance Corporation and that several other major railroads might make similar pleas. This further called attention to the bad situation in the carriers and caused many to unload their shares. The break in rails was seen as a test of the market. Dow, Jones & Cos. pointed out that the railroad average had relinquished 50 per cent of the gain made between Jan. 5 and 15. Rails Watched Carefully , i According to chart followers, if the rails break to the extent of industrials it would indicate the market hed entered another leg of the major decline. “On the other hand,’’ Dow-Jones pointed out, “if either department should prove able to withstand pressure above the lows of Jan. 5, it would point strongly to completion of the deflationary movement.” . Union Pacific dropped to 7014, of! 3%; Atchison 78, off 2%; New York Central 27Vi, off 1%; Chesapeake & Ohio 24, off 1%; Pennsylvania 20 r ;i, oil Hi, and Southern Pacific 30, off lli. Confidence Being Restored United States Steel common dipped nearly 2 points to 38%, while Case dropped to 32%, off 1%; American Can 58%,.0ff 1%; Woolworth 40 l i, off 1%; Auburn Auto 119, off 5Vg, and Westinghouse Electric 24Vi, off 1% General Electric made anew lov for the present shares at 18%, off %. American Telephone was down 2%, at 111%, in the communications. An encouraging note was struck by Paul Shoup, president of Southern Pacific railroad, when he announced the road planned to place large orders for supplies and materials In “doing its share in getting back to prosperity.” Shoup found evidence in recent developments that “confidence is being restored.”

Bank Clearings

INDIANAPOLIS STATEMENT —Feb. 5 Clearings TREASURY STATEMENT •—Feb. 5 Net, balance (or Feb. 3 *636 Expenditures .. . ... 1J.327.J41. 46 Customs rects. mo. to date.. 2.491.550.56

Net Changes

By United Press NEW YORK, Feb. 4.—Closing prices and net changes on principal stocks traded today on the New j York Stock Exchange follow: Up. Off. Allied Chemical ••• J-‘ ; American Can 60 ... American Smelting 15 ••• American Telephone 113 ••• Auburn ••• 1 0 Bethlehem Steel (unch.i... 17% • • •••! Case - ••• iConsolidated Gas 59 * ••• . Du Pont 50% % -j. Electric Power •• ••• 2 General Electric .......... 18% a ... General Motors (unch.i... 21% International Nickel mneh.) i% ••• Loew’s. Inc -’ * ••• ,* N. Y. Central ............. 28 . ... ■- No, Aiaer. (unchanged) 32% ... . ;; Paramount ® * ••• , 4 Pennsylvania ,• ... ? Radio ••• ® , ••• •* Radio-Keith lunch.) 5% ••• ••• Standard Oil. Cal - 3 4 ••• , 8 Standard OU. N. J 27 * .•• Texas Corp 1% % .... United Air * I<% ••• * United Corp. •••••• ••• 8 U. S. Steel (unchanged)... 40% Westinghouse El. (unch.).. 25% ... ... Wooiworth <- • • • /a ' Chicago Stocks Opening (Bv James T. Hamill & Cos.) —Feb. 5 Borg Warner .. in-% Grigsbv Grunow 1% CtntSo Wst ... 5 Ot Lks Aircraft 1% Cent Pub Sir A 2 Insul com .... 2% Cord Corp .... 6%lnsu pfd ... 4% Cont Chi com.. 1% Insull %s 40 23_a Com Edison .. .113% Middle West .. 4 Chicago Sec ... 1 IZenlth Radio ... %

Investment Trust Shares

PRICES ARE TO 12 NOON C. S. T. —Feb. 5 Bid. Ask. Am Founders Corp com % 1 Am & Gen Sec A 3% ... Am Inv Tr Shares 2% 2% Basic Industry Shares *% ... Collateral Trustee Shares A... 3% 4% Cumulative Tr Shares 3% 3% Diversified Tr Shares A.... 6%_ ... Fixed Tr Oil Shares 4% ... Fixed Tr Shares A 6% ... 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% 6% Selected Income Shares 33% Shawmut Bank lnv Tr .... 1 Std Am Trust Shares 3% 3% Super Corp of Am Tr Shares 3% 3% Trustee Std Oil A 3% ... Trustee Std Oil B 33% Unified Service Tr Shares A.. 2% 2% U S Elec Light <fc Pwr A.. 17%. 19% Universal Trust Shares 2% 3

New York Bank Stocks

(By Thomson & McKinnon) —Feb. 4 Bid. Ask. Bankers 59% 61% Brooklyn Trust 196 206 Central Hanover 138 142 Chase National .. 35% 37% Chatham Phoenix Natl 19% 21% Chemical 31% 33% Cltv National 46% 48% Corn Exchange 63 66 Commercial 143 151 Continental 14% 16% Empire 23% 25% FUst National 1.520 1.620 Guaranty 370 275 Irving 19*4 20% Manhatten & Company... 34% 36', Manufacturers 29% 31% New York Trust 74 77 Public 32% 24*

New York Curb Market

-Feb. 5 11:00 11:00 Alum Cos of Am 49 Int Pet 9’ 2 Am Gas & Elec 32 s * Midwest Util .. 4 s . Am Sup Pwr.. 3 s . Newmont Min.. II 1 , Brai Pwr A- Lt 10 3 lNia Hud Pwr 6‘dent Sts Elec. l> Penroad s’ Gples Service.. 5 3 St Regis Paper 3 3 „ Cons Gas of B 60 3 4 So Penn Oil ... 10 Cord 6W std of Ind 15*. Deer A: Cos ... 8 1 . Stutz 13’ B Elec Bond *Sh 10‘!Un Lt & Pwr.. 6, Ford of Eng.. s' Un Verde 3*4 Goldman Sachs Ut Pwr 2 3 i c%eat A St P 144 3 Van Camp U 4 CATf Oil 28VIUn Fndrs I*. Itslll Ut ... 2(4|

New York Stocks ' ’Bv Thomson As McKinnon 1 —————

—Feb. 5 Prev. Railroads— High. Ig>w. 11:00. close. Atchison 81V4 78 78% 80% Bolt Ac Ohio. .. 17 1 * 16% 18% 17% Chrsa Ac Ohio.. 25% 24 1 *, 24% 25% Chess Con) 15% 14% 14% 16 Can Pacific . .. 14% 14% 14% 14% Chi N West 9V a 8% 9% 9% C. RIAc P 12% 12% 12% J3V Del Ltk W 20% 20 20 20% Del Ac Hudson 77 Erie 7% Great Northern 20% Illinois Central.. 14% 14% 14% 14V. Kan Cltv So 1% Lou Ac Nash.. 25 M. K At T 6% Mo Pacific 9 8% 8% 9 Mo Pacific pld.. 20 s , 19 19% 21 N Y Centra!.... 28% 27% 27% 28% NY NH A: H ... 28 24% 25% 26% Nor Pacific 20 19 19 19% Norfolk Ac West 124 124% O Ac W 7% 7% Pere Marq 8% Pennsylvania 20% 20 20% 20% Reading 34 Beaboard Air L % So Pacific 31% 30 30% 31% Southern Ry 10% 10% St Paul 2% 2% St Paul nfd 4% St L Ac S F 4% 4% Union Pacific .. 73% 71 71% 75% Wabash 3% Equipments— Am Car Ac Fdy .. .. 7% ... Am Locomotive 7% Am Steel 674 7 Am Air Brak Sh 13 Oen Am Tank.. 30% 30 30 General Elec ... 19% 19% 19% 19% Gen Ry Signal 237, 24 N Y Air Brake 6% ... Press Stl Car... 1% 1% 1% ... Pullman 21 Ye 20% 20% 21 % Westingh Ar B 14% 14% Wcstingh Elec... 257a 24’% 24% 25% Rubbers— Fisk % % Goodrich 4 3% 4 4 Goodyear 14% 14% 14% 15 Kelly Sprgfld 1% 1% Lee Rubber 2 U S Rubber 4% 4>/a Motora— Auburn 123% 119 115% 124% Chrysler 12% 12% 12% 13 General Motors. 217a 20% 20% 21% Graham Paige 3% 3% Hupp 4 4% Mack 1374 13 13 13% Nash 17 17'/s Packard 4% A 4 4% Reo 33 j Studebaker 1114 : Yellow Truck 37a 3% 3% 37a Motor Access—- ; Bendlx Aviation. 16% 16’,4 16% 16% 'Borg Warner 10% 1074 ! Briggs 874 874 : Eaton ... ... 6 iEI Auto Lite.... 27% 27 7* 2774 27% lEI Storage B 30% Haves Body ... 1% Houda .. ... ... 274 Motor Wheel 5% . Murray Body 6% Stewart Warner.. .. ... 574 Timktn Roll ... 19 18% 18% 19% Mining— Am Smelt 15% 1474 14% 15% Am Zinc ... ... 2% Anaconda Cop.. 97 4 974 974 974 Alaska Jun 15% 15 15 157* Cal Ac Hecla 3% Cerro de Pasco. 1274 1 274 1 274 1 274 Freeport Texas 17% 1774 Granby Corp 674 674 Howe Sound 12 Int Nickel .... 77 4 774 77 4 774 Inspiration ... 37* 3% Kenneeott Cop.. 1074 107* 1074 10% Magma Cop 774 Miami Copper 3% Nev Cons ... 574 574 Noranda ... 1474 1 4 Texas Gul Sul 23'/a 2374 U S Smelt 16 Oils— Atl Refining 974 974 Barnsdall 474 Houston 3 74 Mex Seaboard 7 774 Mid Conti 5% 574 Ohio Oil 57a 574 Pan-Amer (B).. .. ... 17 ... Phillips 4% 474 Prairie Pipe 7 Pure Oil 474 Roval Dutch 1771 1774 1774 1774 Shell Un 37a 3% Sinclair 5'4 574 5 74 5*4 Stand of Cal ... 23% 2274 227a 2374 Stand of NJ. . . 27’* 2674 26% 27% Soc Vac 9 874 9 9 Texas Cos 1174 11% 117a 1174 Union Oil 1174 Steels— Am Roll Mills 874 9 Bethlehem 1774 1774 1774 17% Byers A M 1274 11% 12 Cruc Steel 16'% Inland 21 Ludlum .. ... 4% 4% McKeesport Tin 4774 48 Repub X & S ... 574 5 5 5% U S Steel . 4074 39 39% 407* Vanadium 13% 13% 13% 1374 Youngit S Ac W 774 Youngst. S & T 14 Tobaccos— Am To (A newt. .. ... 76 7674 Am To iB newt. 77% 7674 7674 78 Lig A: Myers 8.. 5674 55 55 5614 I.orillard 1374 13% Reynolds Tob ... 3874 37 % 3774 38 Tob Pr A 8% Tob Pr B ... ... 4% United Cig 174 1% Utilities— Abitibi ... ... 274 Adams Exp .... 474 474 4 % 474 Am For Pwr 6% 7 Am Pwr & Li... 13% 1,7% 1374 14 A T Ac T 11374 111% 112 11374 Col Gas Ac El.. 12% 12% 12% 12% Coni & Sou 474 4 4 4% Cons Gas 5874 57% 57% 5974 El Pwr &Li 1174 1174 1174 12 Gen Gas <A * 2 2% Itl T & T 9% 97a 9% 9% ton Gas Ac El 20’> 21 Natl Pwr & Li. . 1374 12 7 4 12% 13% No Amor Cos 32% 31% 31% 32% Par Gps ?• E 1... 33% 3374 33% 337a Pub Serv N J 52 74 50 % 50 s * 52 So Cal Ed son 31 Std G& El 27% 28 United Coro 8% 8% 874 874 Ull Gps Imp... 18% 18% 1874 18% Ul Pvr A; LA.. 8% 8% 87* 8% West Union 36% 36 36 3674 Sh-’n-.;--Am Int! Corp.., 574 N T -’ Ship 57* 574 United Fruit ... ... 21 Foods— Armour A 17* 174 1% 17* Cal Pkg . 1074 10% Can Dry 1174 1 074 10% ... Coca Co!a 106% 108’i Cont Baking A 574 Corn Prod 4274 Crm Wheat 2174 Cndahv Pkg 31 Gen Foods 33% 3374 3374 33% Hershev 75% Jewel Tea 33 Kroger 14 14 Natl Biscuit... . 40 39% 3974 40% Natl Dairy 24% Purity Bak 13 13>4 Pillsburv 21% Safeway St “6% 4574 4574 457* Std Brands 1274 1 2 12 1 274 Drugs— Coty Inc 374 37/2 Drug Inc 51 52% Lambert Cos 49% 4974 4974 49% Lehn & Fink 21 Indus* rials— Am Radiator ... 6% 6% 6% 6% i Bush Term 17%

Indianapolis Livestock Review

For Week Ending Thursday. Feb. 4. Bv U. S. Dept, of Agriculture. - —Cattle— The week’s cattle trade has proven the assertion that the live and dressed markets are in no condition to absorb increased supplies. Last week a slight improvement in the general price level was attributed largely to smaller marketing through terminal centers. Conditions were reversed this week. Supplies were increased moderately and prices moved downward, indicating that the market as a whole is verv sensitive and not vet on a firm foundation. Beef steers lost 25 to 50 cents with the average loss probably not much more than. 25 cents. Heifers took a similar downturn and cows lost a auarter and in spots more. Low cutters and cutters ruled weak to 25 cents lower, closing at the full downturn. Finished steers to sell upward from $8 were out of the local picture this week and quotations on such kinds are based largely on prevailing prices at other major markets. Some reporters are being criticised for undue attention to the very small percentage of receipts approaching top kinds. Bulk sales for the week were recorded at $4.25 to $6.85. with a load of lightweights at $7.10 and a load of 1.250-pound bullocks at $7.60. Common killers sold down to $3. Heifers cleared generally from $3.25 to $5.50 with a small number from $5.65 to ■ $6.50. Fat cows bulked at $2.75 to 3.50. early top $4. At the close not many were good enough to realize more than $3.50. Low cutters and cutters started the week around steady, but closed with a 25-cent loss, bulk $1.50 to $3.50. Vealers lost the 50 cents advance recorded last Thursday, and for the most of the period good and choice descriptions cashed at $8.50 to $9. with, lower grades selling downward from SB, usually $4.50 to $7.50. Hogs While marketings around the circuit expanded to a noticeable extent prices moved within a narrow range, terminating in a net gain of 10 to 15 cents over last Thursdays prices. It seems that most operators are willing to “Plav Ball’* as long as prices remain around $4.25 and slightly below. Any advance encounters resistance and only light supplies are expected to advance the piice level. Considering air weights from 160 to 325 pounds the week's trade has been conducted within a range of $3.75 to $4.40. Shipping orders were limited and bv some attrbuted to a relatively high position of the local market. Packers, therefore, absorbed most of the week's supply. Bulk prices Thursday follow: 160 to 225 pounds $4.35 to $4.40; 225 to 250 pounds $4.20 to $4 25; 250 to 300 pounds $4.05 to $4 15; 300 up $3.75 to $3 95: 140 to 160 pounds $4 to $4.20; 100 to 140 pounds $3.50 to $3.(5; packing sows $3 to $3.50. -SheepFed western lambs continued to comprise the bulk of marketable offerinrs snd the movement apparently has been held within reasonable trade reauirements Most lof the good and choice offerings cashed from $6.35 to $6.75; reflecting an approximate cain of 25 cents over last weeks bulk prices. Sorting continues to be a lactor in price determination, and with some offerings running a little weighty the 25 cent upturn mav not cover all the actual advance. Native lambs sold ud to $6 50 and a small lot or two reached $6.75. Unsorted lots soil from $5 25 to *6. according to weight and quality and throwouts ranged downward to $4 and less.

Gen Asphalt 13% ... Lehigh Port 6% Otis Elev ... 17% 17% 17% 177* Ulen 2 Indus them*— Air Red 50 Allied Chem 67% 66% 67 68 Com Solv 7% 7% 774 8 Du Pont 5074 48% 58’* 50% Union Carb 29% 29% 29 7* 297* U S Ind Alco 23% ... Retail Stores— Assoc Drv Gds.. .. 674 Gimbel Bros 2 2 Kresge S 5.... 16% 16% 16% 1674 Mav D Store 17 Mont Ward 8% 8 8 874 Pennv J C 28% 28% 28% 28% Schulte Ret St 3% Sears Roe 3174 31 31 31% Wooiworth 42 41 41*4 42 Amusement*— Croslev Radio 374 Eastman K0d.... 81 80 80 81 Fox Film A 3% Grigsbv Gru 474 Loews Inc 27 26% 26% 27% Param Fam.... *74 B*4 8% S% Radio Corp .... 774 774 774 8 R-K-O 5% 5% Warner Bros 33 Miscellaneous— Congoleum „ ..... 8% Proc Ac Gam... 39% 39% 39% 3974 Allis Chal , 6% ... Am Can 60 5874 59% 60 J I Case 3474 3274 33 % 34% Cont Can 35 34 34 35 Curtiss Wr 2 17a 2,, 2 Gillette S R 1274 1 2 1 274 ]2% Int Harv 23% 23% 23% 24 Int Bus M 100 98% 98% 100% Real Silk 374 3% Un Arcft 147s 1474 14% 14 s 4 EMPLOYES TO SHAREJN FUND General Motors to Pay Out Over $7,000,000. By United Press NEW YORK, Feb. 5.-A total of $7,862,459 will be distributed by General Motors Corporation to 30,222 employes who joined a savings and investment fund class of the corporation in 1926, Alfred P. Sloan Jr., president of the company, announced today. The distribution, shared by 50 per cent more employes than in 1931, will consist of $4,923,341 in cash and 129,905 shares of General Motors common stock. Since the inception of the savings and investment class thirteen years ago, Sloan announced, employes of the corporation have received $56,189,195, including 1,597,844 shares of common stock. Approximately 106,000 employes are now participating in the savings class.

The City in Brief

FRIDAY EVENTS Engineering Society, luncheon, Board of Trade. Alliance Franeaise. 1 n. m., Washington. A miniature Indian village, modeled in clay by Edwin and Theresa Deming, authors of many Indian books for children, is on display at Rauh Memorial Library. It will remain on exhibit until Feb. 15. Deming has spent most of his life among the red men, and is a friend of many famous Indian chiefs. Members of the National party will meet March 1 to select a 1932 convention location, John Zahnd, president, said today. Indianapolis previously had been selected, but, Zahnd indicated, due to lack of publicity, the change would be made. A survey of needs of the various branch libraries will be made by the library committee of Women of the Moose during the next few months. Draperies will be presented at 7:30 tonight to the Prospect branch library, Prospect and Randolph streets. A banquet in honor of Postmaster Leslie D. Clancy will be held by employes of the Indianapolis postofflee at 6:30 Saturday night at the Lincoln. Fire originating in an overheated stove caused damage estimated at SSOO to the residence #nd store of Nick Budack, 1204 Nordyke avenue, late Thursday night, according to fire officials. Earl E. Luder of Washington, Ind., a captain in the army during the World war, will take over the duties of utility officer of the United States Veterans’ hospital soon, it was announced Thursday. Luder will supervise all employes and equipment, except in the medical department. With fifty applications in their hands before their membership drive opens, 125 workers of the Kirschbaum Community Center Association announced at a meeting Thursday night that they expect to get 1,200 applications during their drive, Feb. 6 to 11. ASK BUS MORATORIUM Civic Club Permit Proposal Is Before Utilities Board. Public service commissioners this afternoon considered resolutions of the Indianapolis Federation of Community Civic Clubs seeking a moratorium on granting of bus and truck permits. The resolutions, adopted this week, were received by John W. McCardle, commission chairman. The civic organization suggests no permits be issued until the next session of the legislature in order to attempt to obtain new bus legislation. The resolutions set out inroads of bus and truck transportation on railroads have resulted in rail workers being thrown out of jobs. Other Livestock By United Press EAST BUFFALO, Feb. 5 —Hogs on sale. 3,600; active to all interested; strong to l£ic higher; weights around 230 lbs. up mostly; bulk. 160-210 lbs.. $4.75® 4 80; few. $4.85; mixed lots witv light or medium weight, $4.65: 220-240 lbs., [email protected]: 240-270 lbs., [email protected]; weights below 140 lbs.. [email protected]. Cattle—Receipts, 250; steers and heifers draggy; about steady: medium kinds. $5.65tfT5./5; common downward to $4.25; cows steady to weak; cutter grades, s2@3. Calves—Receipts. 600; better grade vealers steady at $9; medium and lower grade slow at $5.50@6. Sheep— Receipts. 1.700; lambs generally 25c higher; trucked In lambs predominating; good to choice, $6.75?7.10: mostly $7; few. $7.25; common and medium. [email protected]. RAW SCGAB PRICES —Feb. 4 High. Low. Close. January 1.18 1.16 1.16 May 98 .95 .97 May 101 .98 1.00 Julv 1.07 1.03 1.05 September 1.12 1.09 1.10 December 1.18 1.14 1.16 NEW YORK COFFEE RANGE —Feb. 4 High. Low. Close March 5.96 5.84 5.96 Mav 6.07 5.98 8 06 Julv 6.17 September 8.27 6.23 6 26 December 6.38 6.34 6.36

THE INDIANAPOLIS TIMES

SWINE ADD TO RECENT GAINS IN FIRMTRADE Lambs Up 25 Cents or More; Cattle, Calves Move Slowly. Continuing the upswing in evidence at the city yards Thursday, hogs advance 5 to 15 cents this morning. The bulk, 120 to 350 pounds, sold for $3.85 to $4.55; early top holding at $4.55. Recepits were estimated at 3,000; holdovers were 77. Cattle trade was slow and about steady with the previous day’s range. Receipts were 200. Vealers showed no change, selling for $9 down. Calf receipts numbered 300. In the sheep market lambs were up 25 cents or more, early sales largely at $6.75 to $7. Some were held considerably higher. Receipts were 1,500. Hogs opened at Chicago fairly active with best lightweights around 10 cents higher than Thursday’s average. Early sales and bids on 170 to 210-pound weights, $4.20 to $4.30. Receipts were 25,000, including 8,000 direct. Holdovers were 4,000. Cattle receipts were 2,000; calves, 500; market, strong. Sheep receipts 12,000, strong.

HOGS T°P- Bulk. Early Top. Receipts. 1. 3.75@ 4.40 4.40 3,000 2. 3.75® 4.40 4.40 4,000 3. 3.80® 4.30 4.30 3.500 4. 3.95® 4.40 4.40 2,000 5. 3.85® 4.55 4.55 3.000 Receipts. 3,000; market, higher. (140-160) Good and choice $ 4.10® 4.25 —Light Lights—-(l6o-180) Good and choice.... 4.55 —Light Weights—-(lßo-200) Good and choice 4.55 (200-220) Medium and g00d... 4.50 —Medium Weights—-(2oo-SjOI Good and choice... 4.30® 4.50 (250-290) Medium and good 4.10® 4.20 —Heavy Weights—-(29o-350) Good and choice 3.90® 4.10 —Packing Sows—-(3so-500) Medium and g00d... 3.00® 3.50 (100-130) Slaughter pigs 3.60® 3.85 CATTLE Receipts, 200; market, steady. Good and choice $6.00®10.00 Common and medium 3.25® 6.00 (1.100-1,800) Good and choice 6.25®10.00 Common and medium 4.50® 6.25 —Heifers—-(soo-850) Good and choice 5.25® 7.50 Common and medium 3.00® 5.25 —Cows— Good and choice 3.25® 4.50 Medium 2.75@ 3.25 Cull and common ...1 1.50® 2.75 —Bulls (yearlings excluded)— Good and choice beefs 3.00® 4.25 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 4.0 u @ 6.50 Common and medium 2.50® 4.00 —Stockers and Feeder Steers— Good and choice 4.25@ 6.00 Common and medium 3.00® 4.25 (600-1,500) Good and choice 4.25® 6.00 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,500; market, higher. Good and choice $6.50® 7 25 Common and medium 4.00® ti.so Ewes, medium ana choice 1.70® 3.00 Cull and common 50® 1.75 Other Livestock By United Press CHICAGO, Feb. s.—Hogs—Receipts, 25,000, including 10,000 direct; active, 10c higher; 170-210 lbs., $4.20®4.30; top, $4.30; 22U-250 lbs., $3.90(9,4.15; 260-310 lbs., $3.75 ®3.90; 140-160 lbs., [email protected]; pigs, $3.25® 3.50; packing sows, [email protected]; light lights, 140-160 lbs., good and choice, 4®4.25; lightweights, 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, $3.65@4; packing sows, 275-500 lbs., medium and good, [email protected]; slaughter pigs, 100-130 lbs., good and. choice. [email protected]. Cattse—Receipts, 2,000; calves, 500; largely a cleanup market, steady to strong at week’s decline; common and medium grade steers and she stock predominating; best steers, $7.50; bulk, [email protected]; most fat cows, $2.75®3.50; demand still narrow for practically all clashes; slaughter cattle and vealers: Steers, 600-900 lbs., good and choice, [email protected]; 900-1,100 lbs., good and choice, [email protected]; 1,100-1,300 lbs., good and choice, [email protected]; 1.300-1,500 lbs., good and choice, [email protected]; 600-1,300 lbs., common and medium, $3.50®6.75; heifers, 650-850 lbs., good and choice, [email protected]; common and medium, s3@s; cows, good and choice, s3@4; low cutter ar,*j cutter cows, [email protected]; bulls, yearlings excluded, good and choice beef, $3®3.75; cutter to medium, $2.25®3.25; vealers, milk fed, good and choice, $7.50@9; medium, [email protected]; cull and common, $4®6.50; Stocker and feeder steers, 500@1,050 lbs., good and choice, $4.25®5.50; common and medium. $3.25®4.50. Sheep— Receipts, 12,000; nothing done; asking higher and bidding unevenly lower; good and choice lambs bid [email protected]; extreme top late Thursday, $7.40; slaughter sheep and lambs: Lambs 90 lbs. down, good and choice, [email protected]; medium, [email protected]; all weights, common, [email protected]; ewes, 90150 lbs., medium to choice, [email protected]; all weights, cull and common, $1.75@3; feeding lambs, 50-75 lbs., good and choice, $5 @5.50. By United Press EAST ST. LOUIS. Feb. s.—Hogs Receipts, 6,500; market, 10@15c higher; top, $4.35; most 140-220 lbs., [email protected]; 230270 lbs., [email protected]; pigs, $3.50@4; sows, largely $3.15®3.35. Cattle—Receipts, 700; calves, receipts, 400; market, vealers 25c lower at 9; seven cars steers unsold; indications fully steady; other classes in light supply, and unevenly steady to strong with Tuesday; mixed yearlings and heifers, [email protected]; cows, [email protected]; low cutters, $1.50®1.75; top medium bulls, $3. Sheep—Receipts, 800; market, few lambs to city butchers. 25c higher at [email protected]; throwouts, s4@s; fat eews steady at $2.50 @3. By Times Special LOUISVILLE, Feb. s.—Hogs—Receipts, 750; 10c higher: 175-235 ibs., $4.55; 240295 lbs., $4.25; 300 lbs. up, $3.65; 175 lbs. down, $4.15; packing sows, [email protected]; stags, $2.40 down. Cattle—Receipts, 150; steady at recent declines; bulk best slaughter steers and heifers, [email protected]; few to $6; slaughter cows and bulls, $3 down; Stockers and feeders, [email protected]; calves, receipts. 200; steady; top vealers, $8; bulk. [email protected]; throwouts. $5 down. Sheep and lambs—Receipts, 50; steady to *sc higher; best fat lambs, $6.25; extra quality valued higher;' buck lambs, $5.25: throwouts, $3.50 down: fat ewes, $2.50 down. Ho shipments Thursday. By United Press CINCINNATI. 0., Feb. s.—Hogs—Receipts, 3.400, including 1,170 direct; heldover, none; fairly active. 10@15c higher on 160 lbs. up; heavier weights in general showing most advance; lighter weights and sows steady; better grade 160-230 lbs., [email protected], mostly $4.70 on around 220 lbs. down; 240-270 lbs., $4.25®4.50; 280-290 lbs. or better quotable, [email protected]; 120140 lbs., $4; sows, $3 to mostly $3.25; light weights, $3.50. Cattle—Receipts, 500; calves, 175; generally steady: odd lots common and medium steers and heifers [email protected]; a few more desirable kind up to $6.25; two loads of good steers, $7: beef cows mostly [email protected]; low cutters and cutters, [email protected]; practical top bulls, $3.50: vealers. steady; good and choice. $8.50@9 mostly; lower grades $8 down. Sheep—Receipts, 900; not enough here to make market: all classes quoted nominally steady: better grade lambs. $6.25 to mostly $6.75; choice up to $7; common and medium, [email protected]; sheep $2 down. By United Press LAFAYETTE. Ind., Feb. s.—Hogs—Marhigher; 160-200 !bs„ $4.35: 200-225 lbs.. $4.25; 225-250 lbs.. $4.15; 250275 lbs.. $4; 275-300 lbs . $3.90; 300-325 lbs 53.75; 150-160 lbs.. $4; 140-150 lbs $3 75 : 120-140 lbs 3.50: 100-120 lbs.. 3.25; roughs $3 down; top calves. $8: top lambs. $6. By United Press FT. WAYNE. Feb. s.—Hogs—Market 10c higher; 100-140 lbs., $3.50: 140-160 lbs $3.85: 160-200 lbs.. $4.30: 200-225 lb™ $4 30; 225-250 lbs.. $4.05: 250-275 lbs.. *3 90; 27?: 300 lbs.. 3.80; 300-350 lbs.. 3.70; roughs s3' stags. $1.50: calves. $9; lambs. 6. By United Press CLEVELAND, Feb. s.—Hogs—Receipts 1.000; holdover. 145; 150-230 lbs., steadvto 10c higher; bulk. 54.60; 245-310 lbs. steadv to 10 cents or more lower; $3 85® 4 25mostly, $4®4.15: pigs. $3.50. Cattle— Rel ceipts, 300; over 50 steers here, only scattered loads sold; medium quality $5near steady; cows and bulls continuing dull. Calves—Receipts. 200; steady to stronger: vealers, $lO freely; odd head higher; common to medium, $6.50®8.50. Sheep—Receipts. 1,500; lames 25c to 50c higher: $7 freely; strictly choice quoted around $7.25: common to medium throwouts, ss® 5.75.

BELIEVE IT or NOT

t*3J,Kla*Fc:itarc Syndicate. lar-l'Ccal Britain right* rrvrcrtl 2r S

Bright Spots of Business

By United Press NEW YORK. Feb. s.—General Motors Corporation will distribute $7,862,459 to 30.222 employes who joined the company’s savings fund class in 1926. President Sloan announced today. ALLIANCE. O.—Officials of the American Steel Foundries recalled 600 employes when the local plant resumed operations after a long shut-down. DETROlT—lndustrial employment in Detroit during the last two weeks of January showed a gain over the first two weeks of the month, according to the board of commerce. CHlCAGO—Production of free wheeling units by the Borg Warner Corporation currently is running 100 per cent above 1931. according to C. S. Davis, president. NEW YORK —W. T. Grant Company reported sales for the year ended Jan. 31 totaled $75,679,192. compared with $71.376.487 in the preceding fiscal year, a rise of 6 per cent. SAN FRANCISCO—Southern Pacific railroad will shortly place orders for 20,000 tons of rails and a substantial amount of ties. Paul Shoup, president, said. NEWARK. N. J.—New Jersey Bell Telephone Companv reported net income for 1931 was $8,464,158. compared with $7,911,893 in 1930. TWENTY-ONE KILLED IN NEW INDIA RIOTS Royal Air Force Pilot Reads Aid Plea on Ground. By United Press NEW DELPHI, India, Feb. 5. Twenty-one persons were killed and many were wounded today when Kashmir police fired into a crowd at the town of Kotli, in Jammu province, to break up communal rioting. The district has been the scene of many recent disturbances between Moslems and Hindus. Another section of the communal fighting has been directed toward ousting the Maharajah of Kashmir from his throne. A royal air force pilot reported that a ground signal meaning “save us” had been laid out at Kotli. A company of British troops was sent to the scene from Mirpur, which was crowded with Hindu refugees. VALUE OF OIL EXPORT SHOWS DROP FOR 1931 Japanese Purchases 14 Per Cent of United States Foreign Sales. By United Press WASHINGTON, Feb. s.—Japan in recent years has steadily increased her purchase of oil from the United States, according to a commerce department report issued today. Last year’s total exports were 25,535.159 barrels, of which Japan took 14 per cent or 3,574,922 barrels. Seventy-five per cent of this country’s exports went to Canada. The total volume of 1931 oil exports was the largest since 1920, except 1929. The value of these exports was far below those of previous years. Exports exceeded imports by three times in value. HAYS FILM RULE SPLIT Los Angeles Attorney to Direct Movies’ Western Affairs. By United Press HOLLYWOOD, Feb. s.—Edwin J. Loeb, Loe Angeles corporation lawyer, and Will H. Hays president of the Motion Picture Producers and Distributers Association of America, occupied a position of joint control over the industry today. Supported by Hollywood producers and New York executives of the major film companies, and in full co-operation with Hays, Loeb will rule over the western affairs of moviedom, it became known today. He will receive a large salary. In the Air Weather conditions at 9 a. m.: Southwest wind, 20 miles an hour; temperature, 28; barometric pressure. 30.15 at sea level; ceiling, clear, hazy, unlimited; visibility, 6 miles; field, soft.

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: The 301-Year-Old Pear Tree— The first pear tree planted in this country still is standing in the same site where it was planted in 1630 by Governor John Endicott, who brought It to Danvers, Mass., from England. This 301-year-old tree still is bearing fruit, and is visited annually by many people. My drawing was made from an original photograph of it. Saturday: “The Giant’s Causeway.”

Produce Markets

Eggs (country run)—Loss off delivered in Indianapolis. 11c: henerv Quality No. 1, 13c: No. 2. 9c. Poultry (buying prices)—Hens weighing 5 lbs., or over. 15c: under 5 lbs.. 14c; Leghorn hens. 10c: broilers, full feathered. 5 lbs.!, or over. 14c: under 5 lbs.. 13c: Leghorn broilers. 10c: spring chickens. 5 lbs. and up. 12c; under 11c: old cocks. 7c: ducks, full feathered. 9c: geese. 6c. These prices are for No. 1 top aualitv auoted bv Kingan & Cos. Butter (wholesale) —No. 1. 25@26c: No. 2. 23@24c. Butterfat— 20c. Cheese (wholesale selling price per pound)—America loaf. 23 3 /c: pimento loaf. 25 3 Ac: Wisconsin firsts. 18c; Longhorns. 19c: New York limberger. 30c. By United Press NEW YORK. Feb. s.—Potatoes—Market, dull; Long Island, [email protected] barrel: southern. [email protected] sack; Idaho, *2.25®2.50; Bermuda, $4.50(5:9 barrel; Maine. $1.50(3! 1.90 barrel: Canada, [email protected] barrel. Sweet potatoes—Market, dull; jersey baskets, 35c@$l: southern baskets, 40® 60c. Flour—Market, quiet; spring patents, $4.40 (54.70. Pork—Market, quiet; mess. $17.50. Lard—Market, easy: middle west spot. $5 @5.10. Tallow—Market, steady; special to extra. 2 3 A@2%c. Dressed poultry—Market, ?uiet; turkeys. 18@26c; chickens. 15@31c; owls. 10@21c; broilers, 15(3 28c; capons, 18(538c ducks, 10@16c; Long Islands ducks, 17>/2@l9c. Live poultry—Market, steady; geese, ll@15c; ducks, 11@25c; fowls, 18® 21c: turkeys. 18@30c; roosters, 12(3; 13c; chickens, 5<522c; broilers, 13®23c; capons, 16<527c. Cheese—Market, dull; state whole milk, fancy to specials, 12@18c; young Americas, i3@l3*/2C. By United Press CINCINNATI. 0.. Feb. s.—Butter steady: creamery in tub lots, according to score. 17@20c; common score discounted. 2 to 3c: packing stock No. 1. 18c: No. 2. 12c; No. 3.8 c: butterfat. 16@18c. Eggs—Steady: cases included: extra firsts. 15Vitc: firsts, UVic: seconds. 12V2C: nearby ungraded. 14 I /bc. Live poultry—Thin and coarse stock sells onlv at heavy discount: fowls. 5 lbs. and over. 16c: 4 lbs. .and over. 16c: 3 lbs and over. 16c: Leghorns. 3 lbs. and over. 13c: roosters. 9c: broilers, colored. 1 lb. and over. 20c: IV2 lbs. and over. 1:0c: 2 lbs. and over. 20c: fryers. 3 lbs. and over. 20c; partly feathered. 12c. Leghorn broilers. 1 lb. and over. 15c: IV2 lbs. and over. 15c: 2 lbs. and over. 12c: Leghorn stags, 10c: colored stags. 12c; black springers. 10c: roasting chickens. 4 lbs. and oyer. 19c; ducks, under 3 lbs., sell at liberal concessions: ducks, white. 4 lbs. and over. 15c: under 4 lbs.. 12c: colored. 4 lbs. and over. 15c: under 4 lbs.. 12c: capons. 8 lbs. ar.a over 23c: under 8 lbs.. 19c: slips. 13c: Guineas. 10c: turkeys No. 1 hens. 8 lbs. and over. 26c: voung Toms No. 1. 10 lbs. and over. 22c. MILLIONS IN FRENCH GOLD SHIPPED HOME Cnosignments to Ban!; of France Are Part of U. S. Holdings. By United Press PARIS, Feb. s.—The He De France landed 342,000,000 francs ($13,440,600) gold at Le Havre today consigned to the bank of France. The metal immediately began to move to Paris by auto trucks. The shipment was a part of the bank’s repatriation of $125,000,000 in its gold holding at New York. Other shipments, mostly new purchases, are scheduled to arrive within a few days. The Majestic, which lands tonight, will bring 120 barrels of gold ($5,895,000), while the American shipper will bring 200 barrels of gold ($10,807,500) to Cherbourg Sunday. BRITISH CREDIT SAVED BY ‘HOME-BANKED’ GOLD Hoarded Sovereigns Released as Country’s Need Develops. By United Press LONDON, Feb. 5. —Seven million pounds sterling in gold sovereigns was taken from hiding places in British gardens, hot houses, chimneys and cupboards to help Britain repay $75,000,000 to France when the recent British credit was terminated, the Daily Express said today. The Express correspondent at Birmingham quoted M. R. Fletcher, a director of a bullion dealers and refiners firm, as saying that the hoarded gold returned to circulation enabled Britain to make her credit payments without depleting her gold stores.

f-C V' Registered O. S. I 1 1 Patent Office RIPLEY

Dow-Jones Summary

F. W. Wooiworth reports January sales amounting to $17,990,630, against $19,230 - 840 in January, 1931, a decrease of 6% per cent. American Republics Corporation and subsidiaries in year ended Dec. 31, 1931, net loss amounted to $1,156,308 after expenses and other charges, against net loss of $927,675 in 1930; net loss for December, 1931. quarter was $1,507,883, against net loss of $870,220 In like period of 1930. New York cables opened in London at 3.45%. against 3.45%; Paris, checks, 87.875; Amsterdam, 8.585; Italy, 66.50, and Berlin 14.562. May Department Stores declared a dividena of 45 cents on common stock; previously 62 %cents quarterly was paid. „ Sea l Company declared of . 30 cents on common stock, against 60 cents previously. Crude oil deliveries by Trairie Pipe Line Company in January totaled 1,862,335 barrels daily, an average of 60,075 barrels, against 2,382,895 in December, or 76,867 daily, and 2,207,391 barrels in January, 1931, or 71,206 daily. J!s& in c s“Sa jsrjpto&i .h?*SuK”“,?. t f;sS r a?;3 y .I%!s payable Feb .15, of record Feb. 4. Loans on stocks and bonds to brokers' by federal reserve member banks in New York city decreased $8,000,000 in week ended Feb. 3 to $505,000,000; non-broker loans decreased $3,000,000. or?<s? y -vs f? 7 bol nik** *!> iner,2“j prece r n * week <*"<l *863,000.000 over like week of 1931- ratio in New York federal reserve banks in week ended Feb. 3 was 67 8 crq r in previous week; ratio in federal s ?cserJ2 system 67.1, against 67.4 leaeral reserve

In the Cotton Markets

(Bv Thomson & McKinnon) NEW YORK, Feb. 4.—There was little doing in the cotton market this morning of general interest. Prices were about 5 points better and the tone was steady. The south sold little or nothing. Perhaps continued showers in the east held the movement back from the farms. Some buying for Europe caused the advance and lack of public interest held it. Tuesday’s decline caused a slight decline in dry goods, but not enough to amount to much. Taken all in all, cotton is holding its price tenaciously and we expect better things of it. We hold firmly to the belief that it takes ample fertilization to make a cotton crop, and we do not believe the south will spend much money on it this year. CHICAGO —Feb. 4 - „ High. Low. Close. March 6.70 6.67 6.70 Mav 6.89 6.83 6.85 Julv 7.05 7.01 7.02 October 7.20 7.16 7.20 NEW YORK January 7.38 7.32 7.37 March 6.62 6.55 6.58 Mav 6.80 6.73 8 77 Julv 6.97 6 89 f.,62 October 7.16 7.10 7.14 December 7.31 7.25 7.31 NEW ORLEANS High. Low. Close. March 6.61 6.57 6.59 May 6.80 6.73 6.76 July 6.97 6.89 6.92 October 7.02 7.05 7.08 Vatican Program to Go on Air By United Press VATICAN CITY, Feb. s.—Tenth anniversary observance ceremony of the Pope’s coronation, which will be broadcast throughout the world, will start at about noon (7 a. m. central standard time) on Feb. 12. Tremors Hint Volcano Eruption By United Press VERA CRUZ, Mexico, Feb. 5. Subterranean rumblings and earth tremors near the dormant volcano Orizaba alarmed residents of the district today. It was reported that a fissure had opened in the side of the mountain.

Specialists In Unlisted Securities Edw. W. Zaiser Securities Corporation 414 Continental Bank Bldg. ' Riley 1043 *

FEB. 5, 1932

GRAIN OPTIONS DISPLAY WEAK PRICE ACTIONS Wheat Eases Fractionally on Scattered Early Sales. HAROLD E. RAINVILLE United Press Staff Correspondent CHICAGO, i eb. s.—Wheat eased at the opening on the Board of Trade today on scattered selling owing to the weakness in stocks and the lower Liverpool cables. Trade was not large and the decline was held to the fractions at the start. Liverpool was lower on the failure of Chicago to respond to advances there and a slackened continental demand. Corn was about steady in a slow trade. Oats was dull. At the opening what was % to 5 $ cent lower, corn and oats were unchanged to % cent down. Provisions were slow but firm. Liverpool was % to % cent lower at midafternoon as expected, and steady. There has been no indication of an improvement i n the cash corn demand from the east. What little there is is being supplied by Ohio and Indiana. lowa still furnishes the bulk of the requirements in the noithwist, where there was a scarcity. Oats traders are paying more attention to the movement of corn to mait.. than to news individual to oats. The impression is that an improved demand for corn would benefit oats. The futures remain stagnant. Chicago Grain Range —Feb. 5- * WHrjiT— p r .„ Mo. H l? h - Low - 11:00. close! Mr 56% .55% .56 56% 9 !l Jjjl? 41% .41% .41% 411* Gatsul '* 2, * - 42,:! -* 2 ' 3 ; t2% % .25% .25% .25% S Tye^ :::: * 25 * :24 ’* fc::: Sftv : 505 Sept !T.! 535 8.22 By Times Special co?n Hl^;if e sk s —- Ca ,riots: Wheat. 33; corn. 209. oats, 45; rve. 1. and barley. 6. By Times Special as aSßSsf* By United Press Wheat—No 62 Nn S? rn *n? 0, 2 ve,,ow * 38tii^39*, a c Oata —No .J white. 28^129c. Rve—No 2 dfia* 18 0 February. $8.75: March. Eg'es— Ex?ra* Creamerv. 23f) 26c. cwt . sl. ' li /x ® lsc - Hav —Timothv vet By United Press Whe^t-No 57~f*58%c er No t'r'X 57*%: I Nn 3 4 hard „ 58c. No. 3 veHow hSrd' 57/4C. No. 4 vellow hard 56%c• No 4 northern. 64%c: No. 2 mixed' i-™ii 2 D mixert 6 37 : e 2 , ml . xed - 57c. Corn—No 7 -I?; , No - 3 rolxed. 34%®35%c No 4 mired 34 ..@2se; No. 5 mixed. 34@34 s,c----2 3 ?, 7C: No - 3 vellnTv. ',4 26’ac: No. 4 vellow 34®35%c- No 5 vel--2 whlte 38W38V.C- No 3 white. 35%@36>0c; No. 4 white. 35®?6c* rw S*TW 5 *T Wh o t< ‘’ 3 <% r ‘ Somnle c ra ,(- 30c’ 9/fs—NO; 2 White. 25®25%c: No 3 white 24%®J4%r- No. 4 white 24®24He Rve —No. 3 47’5c: No 4. 43V-C. Bariev—47® 14 C 75 Timothv —* 3 50573 75. Clover—sß®)

Cash Grain

—Feb. 4 T° r .., car 'll* of K r <*ln t the call of the Indianapolis Board of Trade L o. b shinping point, basis 41%c New York late, were: Wheat—Easy: No. 1 red 47®4Qr--2 red. 46® 47c; No. 2 hard', 46®47c.' Corn—Easy No. 3 white. 28®29c- No 2 ,T 3 v cHow. 25%®26%c; No. 4 yellow. 24V 2 ®2R%c: No. 3 mixed 24® 25c; No. 4 mixed. 23®24c 3 white. *l9® ioc?° 2 White ’ 2 °^ 2lC; No ’ taking T eM °'ra b tes CO t U o nt No. s?^.i. tiraot^ —lnspections Wheat—No 2 red 3 cars' No a ..4 l car?’ Total N ° 3 mixed: whj?e rn l ,n c e aVfN N o°- o 35, 35 , *: No. 4 25 -ars 7 CarS ' N ° 4 yellow ' 11 cars. Total. Oats—No. 3 white. 9 cars: No 4 white 1 car*’ No mP 3 e mTH e ’ , 2 cars: N ° ; 2 mixed! car. ar Total. 1 Car: N °' 2 ,ed ' 1

Local Wagon Wheat

sesdn elevators a re naying 16c for wheat. rCd wheat and * 6c for No. 2 hard New York Liberty Bonds —Feb. 4 fst 5 4% s ‘ 94 so 4th 4V 4 s 9.24 Treasury 3%s of 47 Treasury 3%s of 43 (Marchj!!!!! | CHINESE RAISE FUNDS New Year’s Celebrants at Chicago Collect Money for Troops. By United Press CHICAGO, Feb. s.—The huge dragon that will be carried through the streets of Chicago’s Chinatown in the annual New Year’s celebrat' >n Saturday will eat money this year instead of its traditional fare of lettuce. The money swallowed by the papier-mache beast will be forwarded to Shanghai to defray munitions cost in the conflict with Japan. Already SIO,OOO has been sent by Chicago Chinese to their homeland and the two weeks’ New Year’s celebration will make an intensive drive for funds.

Zaiser & Zaiser Inrorpnratpd Brokers Stocks and bonds 129 E. Market Lincoln ii{j

James T. Hamill & Company Private Wires to AU Loading Markets Indianapolis MEMBERS Chicago Stock Exchange Chicago Board of Trade Indianapolis Board of Trade Aseoclated New York Cnrb 203 Continental Bank Bldg. Tel. Blley 5453 Riley S4S4