Indianapolis Times, Volume 43, Number 243, Indianapolis, Marion County, 18 February 1932 — Page 12

PAGE 12

STOCK SHARES RALLY AFTER EARLYJSALES Cut in English Bank Rate Signal for General Buying. Average Stock Prices | Av jr a e of thirty Industrial* for We clues--3.51. Average of twenty rails ?5 xr °*L * Average of twenty utilities 70'?7 ii 4 - Aver *® of forty bond* 4V.11, UP .00. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Feb. 18.—The stock market resumed Its upward trend today after unsettlement at the opening when the rails were under the adverse influence of omission of the Southern Pacific dividend. Southern Pacific touched 26, off 8, on 5,000 shares at the opening as the specialist apparently cleaned his book at the lowest price which was below the intrinsic value of the stock as estimated in the Street. The issue came back more than 2 points and other rails soon regained their equilibrium. Industrials had behaved well at the outset, being irregular in a narrow range. They quickly turned upward, influenced by the decision of the Bank of England to reduce its discount rate from 6 to 5 per cent. Bond Group Strong That cut was followed by similar action by several Scandinavian countries and some here believed the Federal Reserve bank of New York might cut its rate when governors meet after the close of the stock market today. A lower New York rate would be highly beneficial to bonds, especially United States government issues. This group was strong and active, prices in nearly all rising to new highs for the year. Turnover again was in large blocks. The entire bond market firmed up after early irregularity. Steel Leads List Commodities swung into line on the upside. Wheat rallied to fractional gains and cotton futures were bid up about 50 cents a bale. Steel common led the stock market. It touched 46% in the early trading and then came back to 48% where it was up 1% from the previous close. American Can rose to 67%, up Auburn 120, up 2%; A. M. Byers 37%, up 1%; Case 37, up 1%, and Du Pont 56%, up 1%. American Telephone spurted to 131%, up 3 points, while International Telephone was up nearly a point at 11%. Railroad shares firmed up above the previous close in nearly all instances. Chesapeake & Ohio failed to regain all its loss. Southern Pacific was holding around 28%, off 5%. London Advances By United Press LONDON, Feb. 18.—Unexpected reduction of the Bank of England discount rate from 6 to 5 per cent caused a stampede among bear traders on the Stock Exchange today as prices rose sensationally. Trades with large short contracts outstanding were forced to bid up prices to cover their commitments. Volume of dealings, however, was not large and was out of proportion with the scope of the advance in prices.

Bank Clearings

INDIANAPOLIS STATEMENT —Feb. 18Clearings $1,797,000.00 Debits 4,734,000.00 TREASURY STATEMENT - —Feb. 18Net balance lor Feb. 16 $526,076,685.77 Expenditures 10,628,803.53 Customs rects. mo. to date.. 12,842,801.99 New York Curb Market (Bv Thomson & McKinnon) —Feb. 18— 11:001 11:00 Alum Cos of Am 85 iGreat A & P ..143 Am Q & Elec.. 35%'aulf Oil 30% Am Sun Pwr... 4 iHudson Bay ... 2 Ark Gas A 2% Insull Ut ...... 3 Ass G & Elec... 4% lint Pet 9% Braz Pwr & Lt 12 IMidwest Util ... 445 Can Marc ..... l%|Mo Kan Pine... 1 Cent Sts Elec.. 2 (Nat Inves 2% Cities Service... 6 3 Nla Hud Pwr... 6 s ,A Cord s*A3t Reels Paper.. 5% Deer At Cos S%@td of Ind 15% Elec Bd & Sh.. 11% Un Lt <fc Pwr... 6 5 n Ford of Ene... 5%Ut Pwr 214 Goldman Sachs.. 3 Un Fndrs 2 Chicago Stocks Opening (By James T. HamiU & Cos.) —Feb. 18— Asso Tel Util.. 6 (Instill Com .... 3 Bendlx Avia .. 16% Insull 6s, '40.... 20% Cent So Wst .. 6 Middle West .. 4% Cent Pub Ser A 2 Sbd Utilities .. 1% Cities Berv ... 6% Swift At Cos 18'4 Cord Corp .... 6%!ut At Indus pfd 10% Com Edison . ..109%l New York Bank Stocks (By Thomson At McKinnon) —Feb. 17Bid. Ask. Bankers 62% 64% Brooklyn Trust 230 240 Central Ranover 141 145 Chase National 39 Chemical 34% 36% City National 52 54 Corn Exchange 62% 65% Commercial 158 166 Continental 15% 17% Empire 24 First National 1,640 1,740 Guaranty 299 304 Irving 193$ 20% Manhattan At Company ... 37% 39% Manufacturers 32% 34% New York Trust 83% 88% Publlo 27% 26V* Investment Trust Shares (By Gibson & Bernard) PRICES ARE TO IS NOON C. 8. T. Bid. Ask. Am Founders Corp com % % Am At Gen Sec A 3% ... Am Inv Tr Shares 2% 2% Basic Industry Shares .... 2% ... Collateral Trustee Shares A.. 4% 4% Cumulative Trust Shares 3% 4 Diversified Trustee Sharee A. 7% ... Fixed Trust Oil Bharea 2% ... Fixed Trust Sharw A 7% ... Fundamental Trust Bhares A 3% 4% Fundamental Trust Bhares B 3% 4% Leaders of Industry A 3% ... Low Priced Shares 3% 3% Nation-Wide Securities 3% 3% Selected American Shares ... 2% 2% Selected CumulaUve Shares.. 6% 6% Selected Income Shares 3% 1% Shawmut Bank Inv Trust ... 1 $ Std Am Trust Shares 3% 3% Super Corp of Am Trust Sh 3N 3% Trustee Std Oil A 3N ... Trustee Std Oil B 3% 3% Unified Service Trust Shares A 2% 2% U S Elec Light A; Pow A 19% 19% Universal Trust Shares 2% 3% New York Liberty Bonds —Feb. 17— Liberty 3%, 47 . M.B Liberty Ist 4%a 47 98 28 Ltbertv 4th 4%s ’3B 99- 8 gas; gij* 1 .:::::::::::::::::::: i| Safe; SSSS EG \c..v.v.v.v.v.;;; B.

New York Stocks ■ (By Thomson & McKinnon) ——

—wb. ii— Prev. Railroads— High. Low. 11:00. close. Atchison 84 85 84% Atl Coast Line 81 34 Balt tc 0hi0... 17* 17* 17% 17% Chesa & Ohio.. 34% 33% 34% 34% Cheaa Corp 18 18% Can Pac 15% 15% 15% 15% Chi Ort West |% 3* Chi N Weat .... 8% 8% 8% 8V C, R I 4 P 11 Del L6t W 3114 33 Del & Hudson 8% Erie 8% 8% Oreat Northern 30% 30% 30% 30% Illinois Central. 14% 14 14% 14 Kan City 80 8% 10% lx>u & Naah 34% M, K & T 6% Mo Pacific 8% 8 8% B*. Mo Pacific nfd. 18% 18 19% 19% N Y Central.... 30% 30 30 % 30% HTNH4H.,.. 38% 35% 36% 26% Nor Pacific .... 19% 19% 18% 19% Norfolk ti West 132 O & W ... 7% Pere Mara 11 Pennsylvania .. 20% 20 20 % 20% Reading 33 Seaboard Air L % Bo Pacific 28% 26 28% 34 Southern Rv.... 11% 11% 11% 11 St Paul 2% St Paul nfd 4% St L BP 5% Union Pacific .. 87 85% 86% 87 Wabash 3% 3% W Maryland 6% Equipments— Am Car & Fdv 7% Am Locomotive 7% Am Steel Pd 7% Gen Am Tank. 32% 31% 32% 51% General Elec 22% 21% 22 21% Oen Rv Signal 23 27% Press Stl Car 2% Pullman 22 22 Westlneh Ar B 16 Westlngh Elec.. 31% 30% 31% .70% Rubber*— Firestone 12% Fisk % Goodrich 4% Goodyear 15% 15% 15% 15% Kelly Snrsfid 2 U 8 Rubber 4% 4% 4% 4% Motors— Auburn 119% 115% 119% 117 V, Chrysler 12% 12% 12% 12% General Motors.. 23% 22% 23% 23 Graham-Paige 3% 3% Hudson 9 9 Hupp 4 4 Mack 141/2 Marmon 114 £ a h 17% 17% Packard 4 4 Reo 33 Studebaker 11% 11% White Mot 9% Yellow Truck 4 4 % Motor Access— Am Bosch 6'/a Bendix Aviation 17 16% 17 16% Borg Warner 10% 10% Briggs 9% 9^ Budd Wheel 3 K Campbell Wy 5% Eaton 7 7 El Auto Lite ... 29% 25% 2i% 29V, El Storage B 31 % Houda 3% Murray Body ... 7% 7% 7% 7% Sparks-W 3 Stewart Warner 5% 5% Tlmkin Roll ... 30% 20 20% 20% Mining— Am Smelt 16% 15% 16% 15% Am Zinc 3 Anaconda Cop... 10V 4 10% 10% 10 Alaska Jun .... 15% 15% 15% 15% Cal & Hecla 3% Dome Mines 8% Cerro de Pasco 11% 11% Freeport Texas 18% Granby Corp 7 Great Nor Ore 12% Howe Sound 19% Int Nickel 8% 8 8% 7% Inspiration 3 3% Kennecott Cop.. 10% 10% 10% 10% Magma Cop 7% ... Miami Copper 3% Nev Cons 4% Noranda 14% Texas Gul Sul.. 24% 24% 24% 24% Oils— 74 Amerada 131/2 13% Atl Refining 10% 10% Barnsdall ... 434 434 Beacon 10% Houston 4 4 Mex Sbd 77/. Mid Conti 5% Ohio Oil 5% 5% Phillips 4% 4% 4% 4% Prairie Pipe .... 7% 7% 71/2 7% Pr OU & Gas 5*4 Pure Oil 4% 4% Royal Dutch .... 19% 19% 19% 18% Shell Un 354 Simms Pt 51/. Sinclair 5% 5% 5% 5% Skelly 2% Standard of Cal 25% 25% 25% 25% Standard of NJ 29 28% 28% 28 Soc Vac 10% 10 10% 9% Texas Cos 12 11% 11% 11% Union Oil ... ... 12 Steels— Am Roll Mills 10% 10% Bethlehem 21% 21% 21% 21V. Byers A M 17% 16 17 15% Colo Fuel 10% Inland 23 Ludlum 4% 5 McKeesport Tin 59% 58% 59 58% Repub I <fe S 5% 51/! U S Steel 47% 46% 477', 47 Vanadium 16% 14% 16% 15 Youngst 8 & W 9 Youngst S & T 16% Tobaccos— * Am Tob A (new) 78 Am Tob B (new) 79% 78% 79% 79 General Cigar 36% Lig <fe Myers 8.. 57% ... 57% 66% Lorillard 14% 14% Reynolds Tob.. 37% 37 37% 37% Tob Pr (A) 8% 8% Tob Pr (B) 5 United Cig 1% Utilities— Abitibi 3% 2% Adams Exp 5% Am For Pwr..., 8% 7% 8% 7% Am Pwr & Li.. 15% 14’/, 15V 2 14% A T & T ....130% 138 130% 128% Col Oa & E 1.... 14% 13% 14% 14 Com & 50u.... 4% 4% 4% 4% Cons Gas 63 62 63 62 V* El Pwr &Li 12% 12% 12% 12% Gen Gas (A) 31/2 2% Jntl T & T.... 11% 10% 11% 10% Natl Pwr & Li.. 13’/, 13% 13% 14 No Amer Cos .... 37 35% 37 36% Pac Gas & E 1.... 35% 35% 35% 34% Pub Serv N J.. 56% 56 56% 56% 80 Cal Edison 31% 31% Std G & El ... 30V, 30% United Corp .... 9% 9% 9*/, 9% Un Gas Imp 20 19% 20 19% Ut Pwr & L A.. 9 8% 9 9 West Union.... 45% 44% 45% 43% Shipping— Am Inti Corp.... 7% 6% 7% 7 N Y Ship 4% No Gm Lloyd 7% United Fruit.... 26% 25 26% 25 Foods— Am Sug 26% Armour A jy. Beechnut Pkg 42% ... Cal Pkg n% Can Dry 12 12 Coca Cola 113% 112% 113% 113 Cont Baking A 6 6 Corn Prod 44% 44 44% 44 Cudahy Pkg 34% Gen Foods 35% 34% 35 34% Grand Union 8% 8% Hershey 78% 78% Jewel Tea 34 Kroger 15* 15% 15% 15% Nat Biscuit 4% 43 Natl Dairy 27% 25% 27* 26% Purity Bale 13% Pillsbury 22 Safeway St .... 49 48 49 48 Std Brands .... 13% 12% 13 13 Drugs Coty Inc 4 Drug Inc 53% 53% 53% 52% Lambert Cos 49 48 Lehn & Fink ..... 21% Industrials— Am Radiator ... .. ... 7% 7% Certainteed .... .. 3% Gen Asphalt ... .. ... ... 14 Lehigh Port .. .. ... ... 6 Otis Elev ... 18 Ulen 2% Indus Chems— Air Red 55% 54% 55% 54% Allied Chem .... 76% 74* 76% 75* Com Solv 9 8% 9 8% Du Pont 56% 55 56% 55V, Union Carb 32% 31% 32% 32% U S Ind Alco ... 25% 24% 25% 24% Retail Stores— Assoc Drv Gds 6% Gimbel Bros 2% ... Kresge 8 5.... 16% 16% 16% 16% May D Store 17% Mont Ward .... 9% 9% 9% 10 s , Pennv J C 29% 29 5 , 29% 29% Bchulte Ret St 3% Sears Roe 33% 33% 33% 33% Wool worth 43 42* 43 42% Amusements— Eastman Kod.. 76 74% 76 75% Fox Film A 3% 3% Grigsby Gru ... 1% 1% Loews Inc 30% 30 30% 30 Param Fam 93% 8% 9% 9 Radio Corp .... 10 9% 10 9% R-K-O 5% Warner Bros .... 3% 33% 3 Miscellaneous— Congoleum ... 10% Proc & Gam 41 41% Allis Chal ... , 11% 11% Am Can 7% 66% 67% 66% J I Case 37% 36% 37% 35% Cont Can 37% 37% 37% 38 Curtiss Wr 2 1* 1% 2 Gillette 8 R.... 18% 17 18% 17% Gold Dust ... 17* 17%

BENEFIT OF HOME LOAN BANK CITED

System Would Aid Mortgage Conditions, .Congress Is Advised. By Times Special WASHINGTON. Feb. 18.—E. A. McDougal of New York, president of the Queensboro corporation, testified before a senate subcommittee today that he felt a home loan bank system would create “standardised mortgage conditions, a free flow of mortgage money and a market for investors.” McDougal predicted however, that congress eventually would be forced to extend the bill to include apart-

Int Harv 24% 23% 23% 23% Int Bus M 10* 104% 106 1C7% Real 811 k 3% Un Arcft 16% 15% 16% 15% Produce Markets Eggs (country run)—Low off delivered In Indianapolis. 11c: henerv ouallty 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. 3% lbs. or over. 14e: under. 13c: Leghorn broilers. 10c: spring chickens. 6 lbs. end up. 12c: under lie: old cocks. 7c: ducks, full feathered. 9c: geese. *c. These prices are for No. 1 too ouallty Quoted by Kingan & Cos. Butter (wholesale)—No. 1. 25026 c: No. 2. 23024 c. Butterfat—2oc. Cheese (wholesale selling price per pound)—America loaf. 23%c: Dlmento loal. 25%c: Wisconsin firsts. 19c: Longhorns. 19c: New York llmberger. 30c. By United Press NEW YORK. Feb. 18.—PotatoesMarket. dull: Long Island. $102.25 per barrel: southern. 8206 per barrel: Idado. 82.2502.50 per sack: Bermuda. *409 per barrel: Maine, $1.5001.85 per barrel: Canada. $1.25 02.40 per barrel. Bweet potatoes—Market, dull: Jersey baskets. 23c® *1.25: Southern baskets. 50®65c. Flour— Market, steady: soring patents. $4.50® 4.75 per barrel. Pork—Market, steady, mess *16.50 per barrel. Lard—Market, steady; middle west snot. $5.200 5.30 per 100 lbs. Tallow—Market, steady: special to extra. 2%®2%c per lb. Dressed poultry —Market, steady; turkeys. 18026 c: chickens. 20r29c: fowls. 10@22c: broilers. 20® 27c: ducks. 12016 c: Long Island ducks. 17 ®18c: canons, 18® 30c. Live poultry— Market, steadv: geese. ll®15c: ducks. 11® 20c ;fowls. 18020 c: turkeys. 15®30c: roosters. 12013 c: chickens. 15® 23c: broilers. 16®25c: canons. 16028 c. Cheese —Market, ouiet: state whole milk fancy to sncciaL ll%@18c; young America. 12%®13%c. By United Press CHICAGO. Feb. 18.—Eggs—Market, steadv: receipts. 6.273 cases: extra firsts. 15®15%e: firsts. 14%@14%c: current receipts. 14%c: seconds. ll®l2c. Butter — Market, easy: receipts. 6.891 tubs: extras, ?2%c: extra firsts. 21%®22c: firsts, 20%® 21c; seconds. 19%020c: standards. 22c. CONTINENTAL CAN NETS $3,27 A SHARE IN 1931 Part of Year’s Earnings Set Aside for Jobless Relief. By Times Special NEW YORK, Feb. 18.—The annual report of Continental Can Company, Inc., for 1931 made public today shows net earnings of $5,670,699 after all charges and federal tax, equivalent to $3.27 a share on 1,732,985 no par capital shares outstanding and comparing with net earnings of $8,738,094, or $5.04 a share for the previous year. Earnings as reported were after setting aside the sum of $1,232,840 out of earnings as a special reserve against receivables in addition to usual write-offs. In addition, $350,000 was reserved from earned surplus to write down book value of mortgages, securities, etc., and $50,000 was appropriated from the same source for unemployment relief. Births Boys East 8 " 165 and RUby Quinn - 129 North holm™*” Snd Carrle Me ndel, 1126 Calg(Stephen and Alma Flike, 1026 South Esta and Neva Hill, 2347 Kenwood. Walnut rd and BeHe Jones > 943 West Henry and Olive Lookebill, 1039 West Vermont. Harry and Josie Docktor. 1549 Olive Illinois and Blanche Huth . 1259 South John and Mary Borman, Methodist hospital. James and Mary Todd, Methodist hospital. Basil and Exin a Kershaw, Methodist hospital. Orrin and Marie Pixley, St. Vincent’s hospital. hospLi and RUth Conal,y * st - Vincent’s Raymond and June Stewart St. Vincent's hospital. Robert and Waneta Oliver, St. Vincent’s Hospital. Michael and Mary McCarthy. St. Vincent's hospital. Owen and Nina Chapman, 239 South State. Sylvester and Alma Lindenmaier, 921 Yoke. Girls Millard and Inez Darrah. 1025 North Concord. George and Marian Sanders, 2619 North James. Lawrence and Ida Graebe. 812 Chadwick. Earl and Rose Cornwell. 957% South New Jersey. William and Ethel Oliver. 630 North Livingston. Reecie and Bernice Neff. 716 North Capitoi. Ralph and Mary Calbert. 1441 West Thir-ty-third. Roman and Annebelle Broadus. 2336 Columbia. Ernest and Susie Wilson. 527 Chase. Charles and Mary Anthony. 2047% Alvord. Hamer and Minnie Eldrldge. 2139 Pleasant. Clarence and Edna Culver. 623 Leon. Theodore and Jessie Hoak. 618 North Delaware. John and Lena Anderson. 735 Darnell. Howard and Margaret Mehl. 1122 North Tuxedo. Pando and Rebecca Blnlschoff. Methodist hosDital. John and Minnie Wagner. 1912 Columbia. Sidney and Mary Pence. 2536 Burton. Robert and Violet Bradshaw. 1316 East Pratt. Carl and Irene Hohl. Methodist hosDital. Joseph and Ellen Coughlin. Methodist hosnital. Edward and Annette Prosser. St. Vincent’s hosDital. Bush and Grace Purtlebaugh. 1726 Gimber. Deaths Julia Isiah, 65, 635 Darnell, chronic myocarditis. John T. Roberts. 93. 2514 North Sherman drive, hypostatic pneumonia. John W. Arbuckle. 74, city hospital, acute myocarditis. William D. Gross. 33, 319 East Fortyninth. sarcoma. Max W. Schultz, 68, Methodist hospital, bronchial pneumonia. Edward Gogen, 59, city hospital, carcinoma. Hattie H. Hiatt. 57, 713 East New York, cerebral hemorrhage. Maude Morgan, 46, Methodist hospital, general peritemitis. Edward Banks. 60, 2741 Parker, lobar pneumonia. Wilma Flack, 2, 4215 Baltimore, broncho pneumonia. Bessie P. Matheson, 48, 3275 MacPherson. carcinoma. Minnie Alverson Henson. 65. 3567 North Pennsylvania, chronic myocarditis. June Virginia Samson 26, 3015 North Meridian, broncho pneumonia. Magdalen Lanagan, 40. St. Vincent’s hosnital. toxic myocarditis. Marietta Agnew, 86. Sines Sanitarium, lobar pneumonia. Building Permits Homer Neglev. addition. 3702 North Keystone. $250. W. J. Holliday, alterations and repairs. 109 South Meridian. *SOO. J. W. Hussey, reroof. 3733 Central. 8200. Hueckel Express Company, repairs. 942 Daly. *SOO. Frank Bluesteln, garage. 437 West Twen-ty-eighth. *225. , _ Michael Mahoney, repairs. 1302 East Michigan. *4OO. RAW SUGAR PRICES —Feb. 17High. Low. Close. January 1.19 1.18 1.19 March .94 .93 .93 May .99 .98 .98 July 1.07 1.05 1.05 September 1.13 1.10 1.11 December 1.17 1.15 1.16

ment construction to meet a very great social and economic need in our large centers of population.” The subcommittee was considering one of the bills in the administration emergency relief program. It proposes setting up of a system of twelve banks to facilitate credit arrangements on residences. McDougal characterized the bill as “the only piece of construction legislation for real estate which has come before congress in many many years.” James McKay, Youngstown, 0., said the measure would prevent the collapse of real estate values which we are experiencing at the present time.

THE INDIANAPOLIS TIMES

HOGS CONTINUE STRONG TREND AT CITYYARDS Cattle Classes Active and Steady; Sheep Trade Undeveloped. Continuing the strong trend in evidence Wednesday hogs moved up 10 to 15 cents this morning at the City yards. The bulk, 130 to 325 pounds, sold for $3.90 to $4.35; early top holding at $4.40 for several small lots. Receipts were estimated at 4,500; holdovers were 138. In the cattle market slaughter classes were active and strong. Receipts were 500. Vealers were unchanged at $8 down. Calf receipts numbered 400. Lamb trade was undeveloped with a few early sales at $6.50 to $6.60. Best westerns were held above $6.75. Receipts were 1,500. Asking on hogs at Chicago generally was steady with Wednesday’s average; few early bids weak to lower. Good to choice 170 to 200 pounds bid around $4.15; best held around $4.30 or above. HOGS Feb. Bulk. Early Top. Receipts. 11. $3.95® 4.30 $4.30 3,000 12. 3.80® 4.30 4.30 4.000 13. 3.80® 4.30 4.30 1,500 15. 3.80® 4.20 4.20 4.000 16. 3.70® 4.10 4.10 5 000 17. 3.70® 4.10 4.25 4,000 18. 3.90® 4.35 4.40 4,500 Receipts, 4,500; market, lower. (140-160) Good and ch0ice..4.15 —Light Lights—-(l6o-180) Good and choice.... 4.35 —Light Weights—-(lßo-200) Good and choree..., 4.35® 4.40 (200-220) Medium and good.. 4.30 —Medium Weights—-(22o-250) Good and choice... 4.20® 4.30 (250-290) Medium and g00d... 4.05® 4.15 —Heavy Weights—-(29o-350) Good and choice... 3.85® 4.05 —Packing Sows—-(3so-500) Medium and g00d... 3.00® 3.60 (100-30) Slaughter pigs 3.65 CATTLE Receipts, 500; market, steady. Good and choice $ 5.75® 9.50 Common and medium 3.00® 5.75 (1.100-1,800) Good and choice 5.75® 9.50 Common and medium 4.00® 5.75 —Heifers— Good and choice 4.75® 7.00 Common and medium 3.00® 4.75 —Cows— Good and choice 3.00® 4.00 Medium 2.50® 3.00 Cull and common 1.25® 2.50 —Bulls (yearlings excluded) Good and choice beefs 2.75® 3.75 Cutter, common and medium.. 1.50® 2.75

CALVES AND VEALERS Receipts, 400; market, steady. —Vealers— Good and choice $ 7.50® 8.00 Medium 5.600 7.50 Cull and common 3.50® 5.50 —Calves— Good and choice 3.50® 6.00 Common and medium 2.00® 3.50 —Stockers and Feeder Steers— Good and choice 4.00® 575 Common and medium 3.00® 4.00 _ . (600-1.500) Good and choice 4.00® 5.75 Common and medium 3.00® 4.00 SHEEP AND LAMBS Receipts, 1,500; market, steady. Good and choice $ 6.00® 6.75 Common and medium 3.50® 6.00 Ewes, medium and choice 1.75® 3.00 Cull and common 75® 1.75 Other Livestock By Times Special , Feb. 18. —Cattle—Receipts. 200; steady-bulk slaughter steers and neif"s. <4(3)5.25; slaughter cows and bulls. $3.25 down; light stockers. s3®s 25. halves £T^® ce .. I PcS.v steady, extreme top, $7; bulk. $6.50®7; medium and throwout vealers. $5 down Hogs—Receipts. 525: 10 cents higher; 175-235 lbs.. $4.30: 240-295 lbs., $4; 300 lbs. up. $3.40; 175 lbs. down. $3.90; packing sows. $2.40 0 3.15: stags. $2.15. Sheep and lambs —Receipts. 50; steady, best tat lambs, mostly $6.25: buck lambs. *5.25; throwouts. $3.50 down; fat ewes, $2.50 down Wednesday’s shipments—Cattle. 26; calves. 100; hogs, none: sheep, one. By United Press CLEVELAND. Feb. 18.—Hogs—Receipts, holdover. 64; steady to mostly 10c higher; choice. 150-230 lbs., sorts. $4.50; mixtures. $4.25; 240-300 lbs.. [email protected]; pigs. $3.50. Cattle—Receipts. 150; scattered common steers. 924 lbs. down, [email protected]; steady, heavier weights, dull; low cutter to medium cows. $2®3.50; sausage bulls, s3® 3-50 largely. Calves—Receipts. 250: steady. $8.50 09; odd head, $9.50: cull to medium. $5.50@8. Sheep—Receipts. 1.000: lambs, steady to higher: quality and weights considered: 92 lb. choice, wool skins, $6.75; and nearly good clippers. $5.75. By United Press 1 PITTSBURGH. Feb. 18.—Hogs—Receipts, 1.000: market, steady: 170-230 lbs.. $4 50® 4.70; 240-280 lbs.. [email protected]; 140-150 lbs.. $4®4.25; pigs. [email protected]; packing sows, 25 cents higher: bulk. [email protected]. Cattle —Receipts. 30: market, little higher: medium steers. $5®6.50: heifers. [email protected]; medium to heavy cows, s3®4. Calves —Receipts. 50: market, steady: good and choice, vealers, $7.5009: medium grade. $5.50®7; culls and common. $3.50@5. Sheep—Receipts. 1.250; market, about steady; lambs. $6.5006.75. By United Press EAST BUFFALO, Feb. 18.—Hogs on sale 1,900; fairly active to all Interests, generally 10c higher; bulk 160-210 lbs., $4.75; some held $4.85; mixed lots with light and medium weight end, $4.55® 4.65; 220-240 lbs.. [email protected]; pigs and underweights, $3.7504.25. Cattle—Receipts. 50; common steers and heifers, $4.7505.75; cutter cows. [email protected]. Calves —Receipts, 1,100; lamb trade not fully established; bidding steadv to strong; asking 15c to 25c higher; \r shorn lambs, $6; good woolskins, $6 ); beet lambs firmly held $7. By United Press LAFAYETTE. Ind.. Feb. 18.—HogMarket. 10& 20c higher: 160-200 lbs.. $4.15; 200-225 lbs.. $4.10: 225-250 lbs., $4; 250-275 lbs.. $3.95; 275-300 lbs.. $3.85: 300-325 lbs.. $3.70: 140-160 lbs.. $3.75: 120-140 lbs.. $3.50; 100-120 lbs.. $3.25; roughs. $3 down; top calves .$7; top lambs. [email protected]. By United Press CINCINNATI. Feb. 18.—Hogs—Receipts, 4.600; including 2.538 direct: 57 held over; unevenly steadv to 10 cents higher; late action only fair: better grades. 160-250 lbs.. $4.2504.50: mostly $4.50 on around 225 lbs. down: 240-290 lbs.. $404.25: 325 lbs. downward to $3.75; 120-150 lbs.. $3.85 @4r sows, mostly $3; lightweight. $3.25. Cattle—Receipts. 500: calves. 225: slow, generally steady to weak with all cows weak to 25 cents lower: odd lots common and medium steers and heifers. $4®5.25; one load good 795-oound heifers, $3.50; good steers, absent: beef cows. $2.75 0 3.25: a few. $3.50: low cutters and cutters. $1.50 @2.50: bulls. $3.50 down: godo and choice vealers. fully steady. $7.50@8: lower grades mostly $6.50 down: a few $7. Sheep—Receipts. 1.200: supplies light: better grade lambs, practically absent: quotable steady. [email protected]. mostly: best kinds up to $6.75 Or better: lower grades weak to 25 cents lower under no demand: common and medium. [email protected]: plainer throwouts below; sheep. $2 down. By United Press FT. WAYNE. Ind., Feb. 18 —Hog market. 10015 cents higher; top. $4.15: roughs. $3: stags. $1.50: calves. $8: lambs. $6. LILY CUP GROSS FOR 1931 SHOWS INCREASE Balance Sheet Statement Gains in Net Assets. By Times Special NEW YORK, Feb. 18.—Lily-Tulip Cup Corporation for 1931 reports gross profit of $1,729,515 against $1,728,713 for 1930. After deductions of all expenses, reserves for depression and federal taxes, the net profit for 1931 amounted to $603,410 against $602,058 for 1930. The net profit for 1931, after preferred dividend requirements, was equal to $3.10 a share earned on the 189,545 shares of common stock outstanding at the close o£ the year, against $3.17 per share earned on the 183,000 shares outstanding at the close of 1930. The consolidated balance sheet as of Dec. 31, 1931, showed current assets of $1,640,513 and current liabilities of $238,447, compared with $1,682,703 and $295,956, respectively, reported on Djc. 31, 1930.

BELIEVE IT or NOT

Com meliorated in the wishford parish register C M monumental inscription - fnoisnstmu £ IM9. King FretarwSymAral*.laa. (rfLORGEPIcWANOS has „ DRAWN 35,360 CARTOONS OF J/COS TTTSy

Dow-Jones Summary

International Cement Corporation declared the regular quarterly dividend of 50 cents, placing stock on $2 annual basis, against $3 previously, dividend payable March 31, of record March 11. Thermoid Company in 1931 reported profit at $163,413 after depreciation, interest. etc., against profit of $380,765. after depreciation, interest, etc., but before federal taxes in 1930. Report of trustees of National Service companies for 1931 shows profit of $397,035 after expenses and federal taxes, but before interest. Net income of Green Bay At Western Railroad Company for year ended Dec. 31, 1931, was $222,782 after taxes, rents, etc., against $370,491 in 1930. New York cables opened in London at 3.45, against 3.44%; Paris, checks, 87.50; Amsterdam. 8.520; Italy. 66.25, and Berlin, 14.531. Southern California Edison in 1931 earned $2.53 a share on common stock, against $3.25 a share in 1930. Liquid Carbonic Corporation in 1931 earned $2.96 a share, against $4.38 in 1930. Detroit Edison Company in twelve months to Jan. 31. 1932, earned $8.86 a share, against $8.54 in previous twelve months. Mergenthaler Linotype Company declared the regular quarterly dividend of 75 cents, payable March 31, of record March 2. placing stock on $3 annual basis, against $6 previously. Beatrice Creamery Company declared the regular quarterly dividend of $1 on common stock, payable April 1. of record March 14. Car loadings in United States in week ended Feb. 6 totaled 574,756 cars, an increase of 13.599 cars over previous week, but a decrease of 144,297 from like week in 1931. National Transit Company declared the regular quarterly dividend of 25 cents, payable March 15. of record Feb. 29. Gasoline stocks in United States during week ended Feb. 13, increased 2,054,000 barrels to 43,430.000 barrels, according to American Petroleum; domestic crude oil output during same week averaged 2,138,000 barrels daily, off 14,400 barrels daily from previous week. Clark Equipment Company omits quarterly dividend of 25 cents on common stock due at this time; declared the regular quarterly dividend of $1.75 on preferred stock, payable March 15. of record Feb. 29. Parker Rust Proof Company in 1931 earned $4.48 a common share, against $4.52 in 1930. Chrysler Corporation declared the regular quarterly dividend of 25 cents in 1931. 33 cents a common share, against 5 cents in 1930. Market Street Railway Company in twelve months to Jan. 31. 1932,' net amounted to $1,266,424 after ordinary taxes, but before interest, depreciation and federal taxes, against $1,363,212 in previous twelve months. McCall Corporation declared the regular quarterly dividend of 62% cents. , Puget Sound Power and Light Company in 1931 earned 68 cents a common share, against $1.05 in 1930. Virginia Electric and Power Company in 1931 earned $19.89 a preferred share, against $20.08 in 1930. Arthur G. McKee As Cos. declared the regular auarterly dividend of 87% cents on class B common stock, payable April 1 of record March 20. El Paso Electric Company in twelve months to Dec. 31, 1931, net income amounted to $795,735 after taxes, charges, depreciation, etc., against $934,874 in previous twelve months. , American Hawaiian Steamship Company in 1931 showed net loss of $774,142 after Interest depreciation, etc., against net profit of $551,686 in 1930. Atlanta Birmingham and Coast Railroad in 1931 reported net loss of $598:544 ln 1930 aXeS “ and CharßC *’ agalnst Net Changes By United Press NEW YORK, Feb. 17.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Allied Chemical 75% *2% American Can 66% 3% American Telephone 128% ... 5% Auburn ’17% .. g Bethlehem Steel 21% ' 1% Bvers 15% % Case 35% 3% Chrysler 12% .. % Consolidated Gas r 62% ... 3% Du Pont 55% ... 1% Electric Power 12% ... 1 General Electric 21% ... 1% General Motors 23 ... % International Telephone ... 10% ... 1% Kennecott 10% ... % Loew’s Inc 30 ... 1% Montgomery Ward 9% .. % N Y Central 30% ... 2% North American 36% ... 2% Pennsylvania 20% ... % Public Service 55% ... ii„ Radio 9% ... % Sears Roebuck 33% ... 7%; Stan Oil N J 28 ... 1% 1 Transamerica 5% ... % Union Carbide 32% .. 1% United Corp 9% ... % U S Steel 47 ... 2<, j Westinghonse El 30% ... 2% Wool wort 42% ... 1% I Local Wagon Wheat a CttT grain elevators are paying 47c for No. 2 red wheat and 47c for No. 3 hard wheal.

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 Wednesday’s Times: The Ship That Is Lightened by Its Load—The maximum lightwater draft of the Mayflower is 17 feet 7 9-16 Inches, while its load-water draft is 17 feet 6-11-16 inches. The reasons for this anomalous condition is that the aft end is the lowest point on the keel of the famous yacht. A full load (water, fuel and stores) tend to depress the forward end. The vessel pivots on the central portion, with the result that the loaded ship displaces less water than when it is unloaded. Friday: The Doctor Who Performed His Own Operrtion. NEW PYRAMID IS FOUND Egyptologists Uncover One With Base 15,000 Feet Long. By United Press CAIRO, Feb. 18. —A hitherto unknown pyramid, the fourth in the area, has been discovered by an Egyptian expedition excavating near the famous Giza pryamids. The base of the new pyramid is said to be about 15,000 feet long. It was attributed by archeologists to Hentkaw’s “First Royal Lady in the Old Kingdom.”

FARM OUTLOOK FOR 1932 ON UPGRADE

Slight Improvement May Be Noted, Is Opinion of Experts. By United Press WASHINGTON, Feb. 18.—Another hard year is in prospect for the farmer, according to the full text of the 1932 agricultural outlook, just completed by the department of agriculture. This year may be better than last, the experts report, but even if it is, the present outlook gives the farmer very little to laugh about. When the preliminary report was completed, it was noticed that the department carefully avoided any prediction. Even the full report has not been summarized, as has been the practice in the past. Nevertheless, the observers were unable to keep a pessimistic tone out of their findings as they reviewed the situation, crop by crop Not only is domestic and foreign demand for agricultural products very low, "but also there is no immediate prospect of any improvement, the outlook indicates. “The low level of industrial activity and consumer incomes will continue to influence domestic demand for farm products in 1932,” state the forecasters. They make no prediction as to the duration of the condition. “The foreign demand for the agricultural products of the United States has fallen to a low level, and at the present moment there is very little definite evidence of significant improvements in the near future.” SHARP INCREASE MADE IN FOURTH QUARTER Underwood Elliott Fisher Issues Optimistic Report. By Times Special NEW YORK, Feb. 18.—A sharp increase in fourth quarter net earnings, which were $405,349, equivalent to 53 cents a common share outstanding after preferred dividends, was reported by Underwood-Elliott-Fisher Company, coincidentally with its annual report, showing net earnings for the year of $1,401,061, after all charges and federal tax, equivalent, after deduction of preferred dividends, to $1.79 a share on 674,648 no par common shares outstanding In the hands of the public. This compares with net earnings of $4,011,578 for the previous year, equivalent, after preferred dividends, to $5.56 a share cm 685,648 common shares them outstanding.

|-C Y Registered L * M B ft Patent 08if RIPLEY

Bright Spots of Business

By United Press NEW YORK, Feb. 17.—Lily-Tulip Cup Corporation reported for 1931 net profit of $603,410, compared with $602,058 in 1930. SAN FRANCISCO—Net income of the Pacific Telephone & Telegraph Cos. for 1931, amounted to $18,807,575, or $7.69 a common share, against $17,652,356, or $7.05 a share in 1930. NEW YORK—Consolidated Fiim Industries, Inc., reported net profit for January was $120,271, a substantial increase over the preceding month. RICHMOND. Va.—Virginia Electric and Power Cos. reported net income for 1931 was $3,885,540 against $3,845,584 in 1930. LOS ANGELES—Business conditions are definitely on the upgrade, C. W. Kress, 5 and 10-Cent chain store owner declared. Kress reported his business for 1931 only 1 per cent lower than the previous year. NEW YORK—Directors of the American Telephone and Telegraph Cos., world’s largest corporation today declared the regular quarterly dividend of $2.25 a share on the capital stock: the company and its affiliates hav more than 600.000 share holders.

In the Cotton Markets

(Bv Thomson & McKinnon) NEW YORK, Feb. 17.—Cotton ruled firm at a slight advance over Tuesday’s final prices. There was a good demand from abroad. The contracts again being furnished by co-operative brokers and hedge selling. The spot basis in the south was reported higher, with very little cotton offered, particularly in Texas. The European demand this morning was supposed to be mostly for the trade, although some of it no doubt was buying here against sales in Liverpool. The tone of the market is improving. —Feb. 17— CHICAGO High. Low. Close. March 6.95 6.85 6.85 May 7.15 7.04 7.06 July 7.30 7.20 7.20 October 7.50 7.42 7.42 NEW YORK High. Low. Close. January 7.70 7.57 7.61 March 6.87 6.75 6.76 May 7.05 6.93 6.95 July . 7.23 7.10 7.12 October 7.47 7.34 7.35 December 7.63 7.52 7 54 NEW ORLEANS High. Low. Close. January 7.66 7.57 7.57 March 6.87 6.75 6.77 May 7.05 6.94 6.96 July 7.22 7.09 7.12 October 7.41 7.34 7.34 December 7.58 7.50 7.51

FINANCIAL INDEPENDENCE ■ • • li within the reach of more people today than ever before. Oor '-0 MONTHS’ INVESTMENT PLAN enables yon to aconlre IT S STEEL. AMERICAN TELEPHONE, STD. OIL OF INDIANA ami ALL LEADING COMMON STOCKS AND BONDS at Today's low prices, with participation in dividends and earninjrs immediately J.LMarks & Company ESTABLISHED ISU INVESTMENT SECURITIES Chicago South Bend INDIANAPOLIS OFFICE: 818 Continental Bank Bldg. Lincoln 8584

Thomson & McKinnon INDIANAPOLIS CHICAGO NEW TORE MEMBERS New Verb stock Exchance Chlenco Stock Kxehanae New Tork Cotton Exchanre Chicago Board of Trade New Tork Cnrb iiiodMltl Rooms 200-214 Circle Tower Telephone Lincoln 5501

FEB. 18, 1932

STRONG CABLE REPORTS SEND WHEATHIGHER Corn, Oats Follow Major Grain’s Upswing; Trade Is Light. BY HAROLD E. RAINVILLE United Press Staff Correspondent CHICAGO, Feb. 18.—Relative strength at Liverpool more than offset the weakness in stocks as a market factor on the Board of Trade today and wheat prices were steady to firm. Scattered buying went into the distant months while the nearby deliveries held steady at the start. There was little pressure early. Corn was unevenly steady, with the firmness in wheat checking selling. Oats was firm. Foreign Markets Sluggish At the opening wheat was unchanged to % cent higher, com was % cent lower to % cent higher and oats % cent higher. Provisions were slow and steady. Liverpool was % cent to % cent lower at mid-afternoon, but this was much stronger than expected, in vijw of the decline here Wednesday. The market is full of cross currents, although showing a broad buying power. The tendency is to take profits on advances, replace lines on recessions. Foreign buyers refuse to follow advances here. Shipping Demand Low The cash shipping demand continues the real disappointing feature in corn. Only 2,000 bushels were taken Wednesday. Arrivals also fell off as a result of the lower prices for futures. The colder weather is expected to increase the movement. Oats was holding to a narrow range, with no incentive to enter the market on either side. Conditions are much the same as in corn, but prices are so low no one cares to press the selling side. Chicago Grain Range —Feb. 18WHEAT— Prev. High. Low. 11:00. close. Mar 57% .57% .57% .57* May 61% .60% .61% .60% July 62% .62% .62% .62 Sept 64 .63% .63% .63* CORN— Mar 36% May 40 % .39-% .39% .40 July 42% .42% .42% .42% Sept 43% .43% .43% .43% OATS— May .25% .25% .25%. .25% July 25% .25% Sept 25% RYE— May 46* .48 July 47% .47% .47% .47% LARD— Mar 5.05 May 5.15 July 5.35 5.35 Sept 5.50 By Times Special CHICAGO. Feb. 18—Carlots: Wheat. 53: corn. 121; oats. 54: rye. 1, and barlev, 7. By Times Special CHICAGO, Feb. 17.—Primary receipts: Wheat. 700.000 against 1,311,000; ;orn 229.000 against 1.206.000; oats, 230 001 against 224,000. Shipments: Wheat. 504 - 000 against 534.000; corn, 102.000 against 599,000; oats, 58,000 against 239,000. By United Press TOLEDO. Feb. 17.—Cash grain close: Grain in elevators transit billing—Wheat No 2 red. 61%@62%c. Com—No. 2 vell2^i, 37 '2®38%c. Oats—No. ? white. 27% ®2B%c. Rve —No. 2. 46@47e. Track prices. 28%c rate. Wheat—No. 2 red. 56%(?57c: No. 1 red. 1 cent premium: No. 3 red. % to 3 cents discount: No. 4 red. 3 to 5 cents discounte. Corn—No. 2 vellow. 33® 33 J?c: No. 3 yellow. 31®32c: No. 4 mellow. 28V2@30c. Oats—No. 2 white. 24%®2(>%c: 3 white. 23@24%c. Clover—Prime. $8.75: February. $8.75: March. $8.90. 41sike—Cash. $8.75: February. *8.75: March. *8.90, Butter—Fancy creamerv. 23® 26c. Eggs—Extras. 14%®15c. Hay—Timothy per cwt. 80 cents. By United Press CHICAGO. Feb. 17.—Cash grain close: Wheat—No. 3 red. 59%®60c: No. 1 hard. 60c: No. 3 mixed. 59c. Corn—No. 3 mixed. 356@35%c: No. 4. 34%®35c: No. 2 yellow, old and new mixed. 38%c: No. 3 vellow. 35%®36%c: No. 4 yellow. 33%®35%c: No. 3 white. 35®c: No. 4 white. 34%®35%c. Ooats—No 2 white. 25®26%c: Utter fancy: No. 3 white. 24®24%c: No. 4 white. 23%024%c. Rve—No. 2. s3%c. Bariev—--42059c. Timothy—*[email protected]. Clover—s9® 14.50. Cash Grain —Feb. 17— The bids for car lots of grain at the call of the Indianapolis Board of Trade. L o. b.. shipping point, basis 41 Vic New Yo>-k rate, were: Wheat—Easy: No. 1 red. 49®50c; No. 2 red. 48®49c; No. 2 hard. 48@49c. Corn-Easy; No. 3 white, 28®29c; No. 4 27@28c; No. 3 yellow, 25026 c; No. 4 yellow. 24®25c: No. 3 mixed. 23®24c; No. 4 mixed, 22®23c. Oats—Easy; No. 2 white. 20®21c: No. 3 white, 19®20c. . Hy—Steady (f o. b. country points taking 23 %c or less rates to Cincinnati or Louisville); No. 1 timothy, *7®7.50No. 2 timothy. *608.50. —lnspections Wheat—No. 2 red, 10 cars; No. 3 red, 4 cars- No. 2 hard. 1 car; sample, 1 ear. To’al. 16 cars. Corn (new)—No. 3 white 8 cars; No. 1 wh ,l te - cars: No. 2 yellow. 1 ear: No. 3 yellow 28 car*: No. 4 yellow. 17 cars: No ? vellow. 1 car: No. 4 mixed. 4 cars. Total. 64 cars. Oats—No.l white. 1 car; No. 2 white. 2 cars; No. 3 white. 14 cars: sample white. 2 cars. Total. 19 cars. NEW YORK COFFEE RANGE —Feb. 17High. Low. Close. March .. s?n May .76.24 6.2i* 6 244 lit lit j.jf PAINLEVE CABINET HEAD Former Premier Commissioned to Succeed Laval. By United Press PARIS, Feb. 18.—Paul Painleve, former premier and veteran French politician, was commissioned today by President Paul Doumergue to form a cabinet.