Indianapolis Times, Volume 43, Number 305, Indianapolis, Marion County, 30 April 1932 — Page 10

PAGE 10

SELLING SENDS STOCK MARKET TO NEW LOWS Wide Declines Registered as AIM Sections of List Slump.

Average Stock Prices

Average of thirty industrial* for Thuraoff 304 Average of twenty r *f{* , 22 85. off I.JO Average of twenty utilities 24 72. off 100 Average of forty bond* 75 3, off 36 BY ELMEK C. WALZER I nited Fr-a* Financial Editor NEW YORK, April 29.—Further selling came into the stock market today and prices of leading issues were carried to new low ground for the major depression The Dow-Joncs industrial average broke to anew low since 1915, while the railroad average was closed to its record low and the genial level of the list was at a new low since about twenty years. Acocrding to preliminary calculations. the Dow, Jones and Company industrial average stood at 55.93, off 2.31 points, rail average at 21.83, off 1.02 points and the utility average at 24.21, off 051 points. Sales total? and 1.200,000 shares, compared with 900,000 shares in Thursday's session. Steel Makes New Low Aggregate market value of ten leading stocks was $4,792,399,227, against $4,901,839,115 Thursday, a decline of $109,439,888. The principal reason for unsettlement today appeared to be the action of the house on the economy bill, reduction of w-hich might impair the prospect of balancing the budget. Wheat was out of the list of market problems, that grain maintaining a steady tone after recovering nearly all of an early setback. Cotton, however, took the place of wheat as the weakest commodity, dropping to new low levels for the season, some of the positions going be'ow 6 cents a pound. Steel common made anew low since 1908 at 27’ t , off 7 , from the previous close, while the preferred stock broke below 80 for the first time in twenty-five years. Ameri- 1 can Can at 39’*. off I*4, was at a new low since 1926; Allied Chemical at 53 I h, off 2'*, since 1920; Auburn 31*. off l 1; and a record low; Case 20 ~ off 1, and anew low since 1924. Decline Is Wide Among other issues to make new lows for the year were Alaska Juneau, American Telephone, Union Carbine, General Motors, General Electric, Eastman Kodak. Du Pont, Sears-Roebuck, New York Central, Pennsylvania railroad, Houston Oil, Loose-Wiles, International Silver preferred. Studebaker preferred, Pierce-Arrow preferred, Safety Stores 6 per cent preferred. Brown Shoe, National Lead. Electric Autolite. Nash and Vulcan Detinning. Os the foregoing group. Brown Shoe at one time w'as down 8 points at 25 and National Lead at 57, off 8. Losses generally ranged from fractions to 3 points in the main body of stocks.

Bank Clearings

INDIANAPOLIS STATEMENT —April 29 Clearings $1,708,000.00 Debit 3.958.000.00 TREASURY STATEMENT —April 29Net balance for April 27 *338.083,575.55 Expenditures 14.765.576.18 Customs reels, mo to dale 19.029.048.23

New York Curb Market

Bv Thomson and McKinnon - -April 29Close. Close. ! Alum Cos of Am 25 Gulf Oil 28 Am Cyanamid.. 2 3 Humble Oil ....33 7 Am Gas A- El .. 25 ! 4 Hydro Elec .... 5 Am Lt ft Trac. 16 liit Super 5 Am Sup Pwr... 2 Imp Oil of Can 7* Ark Gas A 1 lot Pet 10 Asso Gas A: El 2’. Midwest Util ... j Can Marc lit Prod 2' a I Cent Sts El ’* Nia Hud Pwr... 4> s Cities Serv 4 Niles '•* Com Edison .. 68 Pitt Glass 14'Cord 2 4.Penroad l-' i Deer A- Cos 6'a Std of Ind 15': El Bond k 8h 12 J Trans Air Trans 2 El Pwr Assn .. 5 Un Gas A !' i Gen Aviation... 3 Un Lt k Pwr... 3'_• ; Ford of Can ... * lUt Pwr ’a ; Ford of Eng ... 4 Van Camp Goldman Sachs I s . Un Fndrs l'a Great A k P.. 126

Investment Trust Shares

Bv James T Hamlll Ac Co.' PRICES ARI TO 12 NOON. C. S. T. —April 29 Bid. Ask. ■ Am Founders Corp. com '2 ‘i Amer and Gen Sec (A> 2 3 1 Am Inv Trust Shares l- s ... Collateral Trus'-ee Shares iA'. 2 s , 3 s i ; Diversified Trust?*- Shares iA> 6 Fixed Trust Shares (At ss,5 s , ... Fundamental Trust Shares 'A 2', 3 Fundamental Trust Shares 'B< 2 s , 3', Leaders ol Industry (A) 2', 2’, Low-Priced Shares 2 2 s , : Mass Inv Trust Shares 12', 13', j Nation Wide Securities 2 s , 2 s , North American Tr Shares .'. I s , 2 Selected Cumulative Shares.. 4* 4’, ! Selected Income Shares 2 s , 2’ Shawmut Bank Inv Trust 1 2 Std Amer Trust Shares 2 s , 2 s , ; Super Corp of Am Tr Shares.. 2 s , 2’* > Trustee Std Oil (A( 3’, 3 s , j Trustee Std Oil (Bi .. 2 s , 3 U 8 Elec Light and Power iA) 13 15

Net Changes

By United Prts NEW YORK, April 29 —Closing prices and net changes on leading issues traded on the New York Stock Exchange today: Up. on Allied Chemical 53'* ... 3 Amer Can 39' ... 1* Airier Tel & Tel 97\ ... ** Atchison 39 * ... S'-* Auburn Auto .............. 32** ’ ... Beth Steel 13> ... ' 3 Ches & Ohio Chrysler *’• ... Consolidated Oas 50 ... 11* Du Pont 38 ... ’vlectric Power 7'* ... ** Oen Electric 13S ... 1 Oen Motors 10* ... •* lot Tel & Tel s>, ... . Loews 31** ... IS Montgomery Ward 7 ... S National Biscuit 32' .. ■' National Power As Light.... 12 ’• ... New York Central 17'? ... 1 North American 23'* ... * Pennsy’vanla ll’a ... ’ Public Service 43 ... X Radio 4' i ... H Sears Roebuck I*’* ... 14a Standard Gas 15* ... * Stand Oil N J unchanged . 22'* Union Carbide 18 ... 11* Union Paciffc 50*. ... 1* C S Steel 27’* ... ** Westlnghouse Elec 31'* ••• l‘a Wool worth 35** ... 1 New York Liberty Bonds —April 29 — Liberty S ! *a 47 JM. Liberty Ist 4 '47 12? 22 Liberty Ist *\i '47 101 2 Liberty 4th 4’*! '3B 102.22 Treasury 4’,a 52 108 30 Treasury 4s '54 103.31 Treasury Js 55 .51 15 Treasury S 3 ,s *56 100 28 Treasury l**s '47 98 23 Treasury 3**s 43 <March 98.26 Treasury 3's 43 tJuaef 98.31

New York Stocks

(Bv Thornton A McKinnon’ 1 By r nited Press NEW YORK. April 29—Sales on ! the New York Stork Exchange today totaled 1.200.000 shares. Curb stock sales totaled 130,000 shares. —April 79Railroad,— Prev High. Low. Close. Close Atchison 42>. 29'* 39 s , 42’. I Atl Coast Line 15* IS Balt & Ohio ... 8N * Bs,8 s , 9 Chess Ac Ohio.. IS’. IS', 16*, 16 7 Chess Corp .... 9" 9 9 s , io' Can Psc 13‘t 11> lIS 11*. Chi N West 4'i 4 4V, s' ] C R 1 & P S’, S 5 S’, Del L Ac W 14V, 14 14 17 • Del Ac Hudson.. 57 54 57 s’j i Erie 4*, ... I Orest Northern. 11 10 I ', 10N ll Illinois Centrsl. UN lON lit, ns Lou Ac Nssh 13 12 M K * T 3 2N 3’q 3, Mo Pacific 3 3 s * 2*, 3N Mo Pacific pfd. 6N s* *, 6N N V Centrsl ... Il> a 17’, 174 18’* Nickel Piste 2N 3 NY NH A H.... 13*. 12N 1544 13*. Nor Pacific 11 10 ll IQVa Norfolk & West 85 O 4c W sn 5, Pennsylvania .. 12 11N lit, 12 s , So Pacific 13 12’ 12N 14’, Southern Rv.... s*, s’, S’, 6 St Paul IN in IN IN St Pail old ... 2’, 2 2 2N St L S F 2N 2 2 2N Lnion P.-elfic ... 52’* 50' 2 50 s . 52N W Maryland 31, ... Equioment,— An- Car Fdv... 6N 6 6 An Locomotive 5 - 5N 5N Arr, S'eel Fd 4', 4N 4' 3 An. Air Brake Sh B‘* 8N 8N ! . Gen Am Tank.. 17 16N 17 17 General Elec 14. 13N 13N 14N Gen Rv Siena!.. 14N 13 s * 13'3 15 Lima Loco 10 Pullman IS', UN 15'* 15’, Westineh Ar B 11‘, 10', 11", ll 1 , Westingh Elec . 22N 21 s , 21 1 a 22 s , Rubbers— Firestone 12 Fisk ; N N Goodrich 3N 3N 3', 3N Goodvear ... lON 10 lON* 10N Kelly Sprgfld IN it, Lee Rubber 3 iU S Rubber 3N 3N 3N .I! Motors— Auburn 33 N 31N 32N 32 s , (Chrysler 9 Bs,8 s , 8N 9>, General Motors UN lON 10N ll 1 , Graham-Patge .... .. p, is. Hudson 4N 4N 4N 4 Hupp 2N 2 2 2N *{<* 13 N 13 13 13N 2**s 11 lON lON 'ii Packard 2N 2N 2N 2N , Pwless IN IN IN ... 1 Reo ... j?, Studebaker 4 s . 4N 4N 4’. White Motors . Yellow Truck ... 2 2N Motor Access— Bendix Aviation. 7N 7 7 7N Borg Warner.. . 6N 6 6N 6N Briggs 8N S', ON 6N Budd Wheel I s , I s , I s , 3 Eaton 5 5 El Auto Lite 14N 12N 12N 14N :El Storage 8.... 19 18N 18 s , 19N I Hayes Body N . Houda ... 214 21, 2N - 2N Motor Whe4l 3N 3V4 Murray Body 5N 4 s , 4 s , 5N Sparks W in IN Stewart Warner.. 2 s , 2* 2 s , 2N Timken Roll 14N 13 s , 13N 14 s , Mining—iAm Metals 3 2N 214 . (Am Smelt .. 9N 8N 9N 9N Anaconda Cop.. 5 4’, 4’, 51, Alaska Jtin 9 8N 8N 8N : Cal Ac Heela.,.,, .. ... 2N 2N Cerro de Pasco.. 6N 6 6 N 'Dome Mines .... B’, 81, Bs,8 s , Bs,8 s , Freeport Texas.. 14 s , 141, 14 s , 14-N Granby Corp ... 4 3N 3 s , 3’, Great Nor Ore .. 7N 7 7N 7>* Int Nickel ss,5 s , S', s s , 5N i Kennecott CopN 7 1 , 6 s , 7 71, | Magma Cop 51'. N-v Cons 3N 3N 3N 3 s , Noranda 13 1 , 13 IS 1 , 13 s , I Texas Gul Sul.. 18N 17 s , 17’, 18’, U S Smelt 14 13 s , 13 s , 14N 1 Oils— Amerada HV, Am Republic ... N ’, N VAtl Refining 10 9 s , 10 9’i i Barnsdall 2V, 2 2 1 , 4 I Houston 2 2N 2’, 3 I Mex Sbd 8 7 s , 7’, 8 Mid Conti 4N 4N 4N 414 Ohio Oil ss,5 s , 5N Phillips 4>, 4 4N ... Prairie Pipe *n Pure Oli 4N 4 s ', 4>A 4N Royal Dutch ... 14 13N 14 13’, Shell Un 2‘4 2N Simms Pt 31, . Cons Oil 4 s , 4N 4 s , 4N : Skellv 3 s , 3N 3N 3N Standard of Cal 18N 17 s , 17 s , 18N Standard of N J 22’, 22 s , 22>~ 22N I ; Hoc Vac B s , 8N 8", 8N i Texas Cos 11 s , 10 s , 10’, 11 s , I Union Oil 10 s , 10 10 10 s , Steel*— I Am Roll Mills 7 6 s , 6 s , 6’, Bethlehem 12 s , 12N 12 s , 12’, Bvers A M 8N IS 8N B’. 1 Colo Fuel gi. i Cruc Steel 10 Inland 13 12 i2 14 Ludlum 4 McKeesport Tin. 37>, 36 s , 36 s i 37 5 , Midland t 3 31. 1 Newton 3 .. ! Repub I Ac 5.... 3N 3N 3 1 , 3N U S Steel 28 N 27 s , 27N 28N Vanadium 8-S 7’, 7’, B s , Youngs 8 Ac VJ 4, .. Your.gst SAT 9 Tobaero*— Am Sumatra.... 3 2 s , 2N .. Am Tob 1A) new 66 Am Tob 181 new 68 N 67 67 N 69 N Llg Ac Mvers 181 49 47N 47’, 49N Lorillard 14 13N 13 s , 1414 Reynolds Tob 32 N 31 s , 32 33 l tilities— Abittbi 1 ’, 1 Adams Exp 3 2’, 2N IN Am For Pwr... 3’, 3 s , 3 s , 3 s , Am Pwr Li 9N 8N 9 8N A T A- T 97 s , 96 s , 97 s , 98 s , Col Gas Ac El.. 8 7 s , 7’, 8 Com A- Sou 2 s , 2N 2 s , 2N Cons Gas 51N 50 50 51N El Pwr & Ll.. 7N 71a 7N 7N Gen Gas A IN ... . Inti T A- T ss,5 s , s>, 5N s s , Lou Gas Ac El 17N 1 Natl Pwr A- Li.. IJN 11 s , 11 s , 11N ■ i.’o Amer Cos 24N 23 5 , 23N 34V4 Pac Gas A- El.. 26N 25N 26>* 26N Pub Ser N J 43 N 42 N 43 44 So Cal Edison . 25 24 5 , 24N 25N Std G A- El ... 16 s , 15 s , 15 s , 16N ' United Coro ... 6 s , 6N 6 1 , 6'4 lUn Gas Imp... 16’, lfiN 16N UN Ul Pwr & L A... 3 2N 3 3N I West Union 26 5 , 24 5 , 24 s , 26N Shipping— Am Inti Corp... 4 s , 4N 4N 4’4 I N Y Ship 2N 1 Inti Mer M pfd. 2N 2 2 United Fruit .. 20 19 s , I§N 20 Food*— Am Sug 18 N 18 18 Armour A I s , 1 1 IN Cal Pke 6 5N 5N ... Can Drv 9N 9 9 s , 9N Coca Cola 95N 33N 34 96N I Corn Prod 32N 32 32N 33 ; Cudahy Pkg 29 N 30 Cuban Am Sug *, Gen Foods 31N 30N 30 s , 31N Grand Union ... 6N Hershev 66 69 65 67 N Kroger 13’, 13 13N 13 s , Nat Biscuit 32 s , 32 32 5 , 33', Natl Dairv 23 5 , 22N 23 23 1 Purity Bnk 7N 7N 7N 7N ; Pillsburv 16N 16N 16'* 1 Safcwav St 46 s , 46 46 46 s , , Std Brands UN lON 11 UN Drug*— Cotv Inc 2N 2N 2N 2’, Drug Inc 38 37', 37', 38N I Lambert Cos 39N 34 N 34 N 35N 1 Lehn A- Fink UN 15N Industrial*— Am Radiator.... 4’, 4N 4N 3 Bush Term 9 9N j Certainteed I s , ...| ; Gen Asphalt ... 8N 8N 1 Otis Elev 13N 13 s , 13 s , 13N Indus Chems— Aid Red 37N 39’. 37 37'-' Allied Chem 55 52N 52>* 55N j 1 Com Solv 6N 6 6 6 ' Dupont 28N 27% 78 N ! Union Carb 19 s , 18 18 16 s * 1 U S Ind Alco .. 20 s , 20 20N 20N , Retail Stores — Otmbel Bros .. IN Kresge S S 10 s , 10 s , 10 s , 10N Mav D Store... 13 s , 13 13 ts% : Mont Ward .... 7N 7 7 7 s , Pennv J C 27 26N 26’, 27N Schulte Ret St .. IN Sears Roe 19N 18', 18 s , 19 s , Woolworth .... 36N 35N 25 5 , 36N Amusement,— Eastman Kod .. SIN 48', 43N 51N Fox Film A 2N 2N Grigsby Gru ~ s , s , N N ! loews Inc 22N 21N 21N 23 | Param Fam 3N 3N 3N 3N 1 : Radio Corp .... 4’, 4N 4 s , 4N i R K O .. 3N 3N Warner Bros ... I s , IN IN IN ! Miscellaneous—--1 Airwav App IN : Citv Ice & Fu.. 18N 17N UN 19', Congoleum 8 8 Proc A- Gam ... 30 s , 30 30 s , 31 Allis Chal 7 6N 6 s , 7 Am Can 40N 39 39N 41 J I Case 21N 20N 20N 21N Corn Can 26 25 25', 27N Curtiss W’r IN, 1 1 I', Gillette S R ... 15 14', 14. 15 Gold Dust 12 N 12 12 N 12N Int Harv 18 17 18 18 N Int Bus M 80 78 N 79', 80 s , R-al Silk 4 IN SN 44 ; Un Are ft 11 10 s , 10N 11N

Foreign Exchange

lßv James T. Hu.mill ft Co.i —April 29 Close. Sterling. England 3 65*> Franc. France 0393-' < Lire. Italv 0514 *, Franc. Belgium 14P0 Mark. Ciermanv 2379 i Guilder Holland .4049 Peseta. Spain... 0785 Krone, Norway 1845 Krone Denmark 2000 Yen. japan 3240

Local Wagon Wheat

ICitv train elevators are oaying 42c lor No. 3> red wheat, and 42c lor Mo. 3 hard ; wheat. 1

SHORT SALE IS EXPLAINED IN EASY LANGUAGE Methods of Operation and Effects Shown by New Book. BY JOHN T. HAWKINS Time, Financial Editor "Short selling.” What do the words imply to you? Do you picture a wild, ruthless individual trying to take away from ; you your job, striving to beat down the value of those ten shares of stock in your trunk? Or do you see another picture: The highly organ- ! lzed security and commodity ex- ! change, where short selling is a needed procedure, a vital necessity to- the stabilization of prices, the one thing that stands between you and the man who could depress prices to the vanishing point? Between these two extremes lies a great expanse of thoughtful territory. Neither convey a true description of the short sale or its effects. The short selling bogey is one that always is with us, sometimes dormant, as when prices are rising and business flourishing, but always there ready to spring out at the first sign of declining prices. All Details Explained With the wide spread public interest now aroused in short selling on the New York Stock Exchange as the incentive, the one man capable of giving a true picture of the cause and effect of the short sale has written a thorough and detailed analysis of the subject. J. Edward Meeker, economist to the New York Stock Exchange, in his book, "Short Selling,” published by Harper and Brothers, explains in popular language every detail of this necessary operation in the purchase and sale of securities. Publication of this book is welcomed by The Times in that it provides the answer to a series run in this paper on the ill effects of short selling. Tne book will be used as the basis of a short series showing the benefits to be derived from the use of the short sale. First we will take up the definition of a short sale. Sale Is Credit Operation A short sale is nothing but a sale which creates a debt in terms of goods. It is, in reality, a credit operation. In almost all lines of business it is customary to contract for the delivery of goods not immediately available to the seller. This is the principle of short selling. Automobiles regularly are sold to consumers before they are delivered. The United States treasury dpartment often has sold its interest-bearing notes in anticipation of future revenue receipts from the federal income tax. On American stock exchanges a short sale is made in the following manner: The short seller authorizes the broker to sell 100 shares of stock short. The broker finds a buyer and sells him 100 shares of stock, delivery <0 be made the following day. Actual Stock Delivered

The broker then borrows 100 shares of stock from someone who will lend it. The broker then delivers the stock to the buyer and in return receives the full amount of the purchase price. This money then is turned over to the man who loaned the stock, he paying the short seller interest on the money as the money rightfully belongs to the seller. The lender therefor gets the use of the money representing the value of his stock without having to sell his stock, for the reason that the short seller has to some time buy 100 shares of stock to replace that which he borrowed from the lender. In return the lender will give him back the money he used while the stock was loaned out. In the next of this series we will take up the reasons for the short sale.

In the Cotton Markets

(Bv Thomson Ac McKinnon) NEW YORK, April 29.—The market continued its decline this morning. All positions sold at new low prices for the season. The crop is still said to be about two weeks late in Texas. The world's shippers took more than 100.090 bales more American cotton than for the same week last year. An announcement of the farm board's plan for disposing of its stock is momentarily expected. Local sentiment among traders is very bearish. The trade buys on all reactions but does not show the slightest inclination to raise its limits. Further curtailment is being arranged. The market lacks anything that looks like speculative support. These prices before the crop is entirely planted, look cheap to us and it is not unlikely that a substantial advance will follow the least unfavorable spring weather. NEW ORLEANS January 6.43 6.25 6.25 March 6.65 6.43 6.43 Mav 5.89 5.69 5.t>9 Julv 6.08 5.78 5.85 October 6.26 6.01 6.06 December 6.43 6.17 6.18 CHICAGO —April 29 • High. Low. Close. January 6.61 6.34 6.37 March 6.78 6.57 6 54 Mav 603 5.77 5.77 July 606 5 88 5 95 October .j 639 6.09 6.16 December 6.53 6.26 6.30 NEW YORK January 6.54 6.22 6.28 March 6.70 6.40 6 42 May 5.94 5.68 5.72 Julv 6 09 5.81 5 86 October 6.31 6.03 e 08 December 6.47 6.15 6 22

New York Bank Stocks

Bv Thomson and McKinnon —April 29 Bankers 49 SI Brooklyn Trust 186 181 Central Hanover Hl'* US'* Chase National 29' 31' Chemical 29*. 31* City National 35* 371* Corn Exchange 50 53 Commercial 125 131 Continental ..... 13 15 Empire 22'* 24’* First National *1.330 1.430 Guaranty 245 250 Irving 16 Manhattan & Company... 20’, 22’, Manufacturers 24’, 2< l , New York Trust 7S, 79', Public 20V, 23' NEW YORK COFEE RANGE • —April 29 High. Low. Close. May 6.44 8.25 6 35 •luh- a ...... 6.42 6.37 647 September 6.29 8.25 8 29 December 8.24 8.24 .2

THE INDIANAPOLIS TIMES

Bright Spots of Business

Bt t'Bild PrtM NEW YORK. April. 29 —March net operating income ol the flr*t ilxtjr railroad* reported ■ total of *28.969.000, compared with 120.426.000 ID February. CHICAGO—SaIe* ot ane make •!•**; trie refrtterator* darinx 1981 were SS.W* ■nits ever 193*. while dollar relume ihowed an Increase of |l9,B**,**9, It waa reported. HAMILTON Ontario—The National Steel Company will keep lt’a plant* open all summer because of orders received from the Ford Company of Canada. R. S. Hart, manager, announced INDEPENDENCE. Kan.—Universal Atlas Cement Company, subsidiary of United States Steel Corporation, will resume manufacturing operation May 2. alter a shut down of several months. It was reported.

Chicago Stocks ' ' Bv James T. Hamlll Ac Co.' TOTAL SALES. .V..WW* SHARES —April 29 High. Low. Last. Art Metal Works 2 Associated Telephone Ut 2N Bendix Aviation 7 6’, 7 Borg-Warner 6N 6 64 E L Bruce Cos 6', *4 at, Butler Bros I s , IN I s * Cent Ills Securtles s Cent Pub Serv class A 4 Cent Ac So West IN IN 14 Cities Service 34 3N 3’, Commonwealth Edison 68 s , 67 4 68N Construct Mate pfd ... 2', Continental Chicago ... 1 N N Cont Chicago pfd 13 124 13 Cord Corp 2’* Electric Household .... 3’, 34 3’, Grigsby Grunow 4 Hart Carter 4 Houdaille Hershey A 64 Insull Ut Inv pfd 2d Ser U 4 *, Kellogg Switch com 24 Lynch Corp 124 124 12 N McGraw Electric 4 Mid West Utilities 4 4 4 Midland United IN Mlsosurl Kansas Pine L N Muskegon Motor Spec A 4 Natl Secur Inv 4 Natl Becur Inv ctfs 30 National Standard 11 Noblltt Sparks Ind Inc 134 Pines Winterfront ..T. 2 14 2 Public Service N P .... 55 4 53 N 5* Quaker Oats 83 Raytheon V T C 4 Ross Gear ... 19 Seaboard Util Bhares.. 4 Swift Ac Cos 15 144 14 N Swift International.... 20’s 20 20N U 8 Gypsum Com 17 s , U S Radio Ac Tel 6N 8 6 Utah Radio 4 Utility Ac Ind 14 Util Ac Ind Pfd 74 7 74 Walgren 9N 94 94 Yates Machine ,

Dow-Jones Summary

United States Playing Card Cos. declared a dividend of 37', cents, payable July 1. of record June 20: in previous three months 50 cents was paid. St. Louis Southwestern Railway system in quarter ended March 31, 1932. reported net loss amounting to *794.976 after taxes and charges, against net ioss of $666,463 in first quarter of 1932; March net loss totaled *234.610 against net loss of *134,691 in March of 1931. Southern Pipe Line declared the dividend of 35 cent,, payable June 1, of record May 16; previously 30 cents was paid quarterly. Western Maryland Railway in March showed net income of *32.903 after taxes and charges, against *102,106 in March, 1931: three months ended March 31. last net Income amounted to *139.758 against *348.677 tn first three months of 1931. Freeport Texas Companv declared the regular quarterly dividend of 50 cents, payable June 1 of record May 13. - - # Canadian Pacific in March reported net income of *1.170,502. against *1.335.760 in March. <931; three months totaled *2.017,415. against *2.465.246. General Cigar Company in quarter ended March 31, 1932. estimated net profit at $302,136 after charges and federal tapes equal after dividend requirements on 7 per cent preferred stock to 45 cents a share on 472.082 common shares, against $445,226. or 75 cents a share in first quarter of 1931. Monsanto Chemical Work, in quarter earned 64 cent, a share, against 50 cents in March, 1931, quarter. Walgreen Oompany in six months ended March 31 earnings amounted to 78 cents a common share, agalsst 80 cents in same period ot last year. Earning of ninetv-nine telephone companies as reported to I. C. C. shows operating Income of $18,490,134 for February, against $21,963,214 in February. 1931: two months totaled $37,638,865 against $45.087.130. United Airwavs and Electric in March reported net loss of *126.983 after fixed charges, against net income of $12,212 in March. 1931: three months net loss amounted to $348,609 against net loss ol $4,488 in March 1931 auarter. Missouri Pacific March net operating income totaled $939,137 against (1.358.600 in March. 1931; three months, 61,778.010 against $4,160,397. National Distillers Products In March auarter showed profit of *223.473 after all charges, but before federal taxes, against $301,565 tn March 1931 quarter. Net profit of Kresge Department Stores, Inc. and subsidiaries for year ended Jan. 31. 1932. amounted to $228,496 after taxes, depreciation, etc. Net Income of Continental Baking Corporation and subsidiaries for fifteen weeks ended April 9. 1932. totaled $712,173 after Interest, depreciation, federal taxes, etc., against $822,383 in fifteen weeks ended April 11, 1931. Engineers Public Berviee Cos. in twelve months ended March 31. 1932. earned $2 01 a common shares, against *2.39 In previous twelve months. Bethlehem declared the regular preferred dividend payable July 1, of record June 3. Hunt Brother, Packing Cos. in fiscal year ended Feb. 30, 1932. showed net loss amounting to $3.00.794 against net profit of $131,366 in preceding fiscal year. Pittsburgh Ac West Virginia reported March net income at $47,802 against $82.985 in March. 1931; three months 189,325 against *204.466.

Cash Grain

April 29 The bids for car lots of grain at the Indianapolis Board of Trade, f. o. b., shipping point. 41* 3 c New York rate were. Wheat—Steady; No 1 red. 450 46c; No. 2 red. 44645 c: No. 2 hard. 446 45c. Corn—Easy: No 2 white. 23'a24 , ic; No. 3 while. 22 1 j0 23>*c; No. 2 yellow. 22>i '/23’jc; No. 3 yellow, 21'2623'ac; No. 2 mixed. 214022 l ac; No. 3 mixed. 2O'ao 2t'aC. Oau—Easy; No. 2 white. 18019 c; No. 3 white. 17@18c. Hay (f. o. b. country points taking 2314 c or less rates to Cincinnati or Louisville)— Steady: No. 1 timothy. *202.50: No. 2 timothy. *606.50. —lnspections Wheat—No. 2 rea. 9 car*: No. 3 red. 2 cars: No. I mixed. 1 car. Total. 12 cars. Corn—No. 2 white. 5 cars; No. 3 white. 4 cars: No. 4 white. 1 car; No. 2 yeUow. 23 cars; No. 3 yellow. 13 cars; No. 3 mixed. 1 car. Total. 47 cars. Oats—No. 2 white. 2 car*; No. 3 white, 19 cars. Total. 21 cars. Deaths Henrv F. MeCammon. 82. City hospital, hypostatic pneumonia. Florence Gray. 70, 234 South Grace, cerebral hemorrhage. French T. Washington. 67. 1040 West Vermont, chronic interstitial nephritis. Dona Mae Bolt*. 2 mo.. Riley hospital, sp.ne bifida. Mary Esters, 42. 906 Roach, pulmonary tuberculosis. Louie S. Cox. 31, City hospital, mitral stenosis. Leo Martin. 29. City hospital, epidemic meningitis. Edward Wilson Goddard. 59, 3220 Leslie avenue, chronic myocarditis. Bessie Stevenson. 30. 1337 Lafayette, acute dilatation of heart. Luella Sprattllng 36. 2622 Highland Place, lobar pneumonia. Bridget Fanning. 79. 1321 East Ohio, chronic myocarditis. John McDonald. 83. 1806 Montcalm, acute cordtac dilatation. Mattie Baxter. 32. 1622 Columbia, hyperthvroidtsm. judttv Ann Kopp, 14 mo.. Riley hospital, peritonitis. RAW SLGAR PRICES —April 29Hieh. Low. Close. January .62 .80 .80 March 87 .85 .86 Mv .58 JS 7 .57 July .66 .94 .64 September -73 .71 .71 Dcceuber JO *7* .78

PORKERS SHOW STEADY TREND AT CITYYARDS Cattle and Calves Dull in Cleanup Trade; Lambs Undeveloped. Steady trend was a feature of hogs at the Union stockyards this morning. Price showed no change from Thursday's average quotations. The bulk, 100 to 350 pounds, sold for $3.35 to $3.75. Receipts were estimated at 4,000; holdovers were 284. Nothing much was done in the cattle market. Trade mostly was a cleanup affair. Receipts numbered 300. Vealers were steady at $5.50 down. Calf receipts were 600. Sheep were undeveloped early with the supply mostly clipped lambs held above $6.00. Receipts were 700. Displaying a steady trend," hogs in Chicago this morning were mostly unchanged with Thursday's average. The bulk, 160 to 200 pounds, sold at $3.75 to $3.80, with some grades selling higher, while larger weights from 220 to 240 pounds were selling at $3.60 to $3.70. Receipts numbered 20,000, including 10,000 direct; holdovers 10,000. Cattle receipts, 1,000; calves, 500; market, steady. Sheep receipts, 12,000; market, stationary. HOGS April. Bulk. Earlv Too. Receipts. 22. *3 40® 4.00 84 00 6.500 23. 3.45 U 4.00 4 00 2 000 25. 3.45i 4.00 4.00 7.000 26. 3.35*> 3.85 3.90 8 000 27. 3.50® 3.90 3.90 6.500 28 3.35® 3.75 3.75 6.500 29. 3.35® 3.75 3.75 4.000 Receipts, 4,000; market, steady. (140-1601 Good and choice. ..$ 3.75 —Light Light*— (160-180) God and choice... 3.75 - —Light Weights—-(lßo-2001 Good and choice.... 3.75 (200-2201 Medium and g00d... 3.70 —Medium Weights—-'22o-2501 Good and choice.... 3.60® 3.70 (250-290i Medium and g00d... 3.45® 3.50 —Heavy Weights—-(29o-350) Good and choice 3.35® 3 45 —Packing Sows—-(3so-500) Medium and g00d... 2.60® 3.00 (100-1301 Slaughter pigs .... 3.75 CATTLE Receipts. 300; market, steady. Good and choice $ 6.00® 775 Common and medium 3.50® 600 , , (1.100-1.800) Good and choice 6 00® 7.75 Common and medium 4.50® 6.00 —Heifers— Good and choice 5.25® 6.75 Common and medium 3 50 ® 5.25 —Cows— Good and choice 3.50® 4.50 Medium 2.75® 3.50 Cull and common 1.50# 2.75 —Bulls (yearling, excluded)— Good and choice beef, 3.00® 3.75 Cutter, common and medium.. 2.00® 3.00 CALVES AND VEALERS Receipts, 600; market, steady. —Vealers— Good and choice 8 5.90® 5.50 Medium 3.50® 5.00 Cull and common 2.00a 3.50 —Calves— Good and choice 3.50® 5.00 Common and medium 2.50# 3.50 —Stocker and Feeder Steers— Good and choice i 4.50® 6.25 Common and medium 3.50® 4.50 (600-1.5001 Good and choice 4.50® 6.25 Common and medium 3.50$ 4.50 SHEEP AND LAMBS (Shorn Basis) Receipts. 700; market, steady. Good and choice S fi.OO® 6.50 Spring iambs 5.00*; 8.50 Common and medium 4.00*; 6.00 Ewes, medium and choice... 2.25® 3.25 Cull and common I.oo® 2.25

Other Livestock By United Press CHICAGO. April 29.—Hogs—Receipts, 20.000; Including 10.000 direct; moderately active, steady; 170-210 lbs. *3.700 3.85; top. *3.90; 220-250 lbs.. *3.5003.75; 260-320 lhs.. *3.3003.50; 140-160 lbs.. *3.504(3.75; pigs. *34/ 3.25; packing sows. $2,754/3; light lights. 140-160 lbs., good and choice. $3.50€t8.80. lightweights. 160-200 lbs., good and choice, *3.6003.90; medium weights, 200-250 lbs., good and chotce. *3.5003.90; heavyweights. 250-350 lbs., good and choice, (3.2o<ii 3.60; packing sows. 275-500 lbs.. medium and good. t2.65H3.10; slaughter pigs. 100-130 lbs., good and choice, $3 0 3.50. Cattle—Receipts. 1.000; calves. 500; generaly steadv. but very slow; most steers. (4.756(5.50: best around *6.50; largely cleanup market; most fat cows going at *2.7563.75. and yearling heifers at *56(6; general trade fully 25c lower for the week: slaughter cattle nad vealers: Steers. 600-900 lbs., good and choice. *6.50*8.7.75: 900-1.100 lbs., good and choice. *6.506(7.75; 1.100-1.300 lbs., good and choice. *6.506i8; 1.300-1.500 lbs., good and choice. 57.506';8: 600-1.300 lbs., common and medium. *4.504(6.50: heifers. 350-850 lbs., good and choice. *5.256(6.50: common and medium. $3,756(5.25: cows, good and choice. *3.7564.75; common and medium, *2.504* 3.50; low cutter and cutter cows. (1.506 c 2.50: bulls, yearlings excluded, good and choice (beef). *36(4.25: cutter to medium. *2.506(3.10: vealers. milk fed. good and choice. *4.756(6: medium. *46(4.75; cull and common. *36(4: stocker and feeder cattle: Steers. 500-1,050 lbs., good and choice. *so> 6: common and medium. *3.756(5 Sheep —Receipts. 12.000; old crop lambs at standstill, asking higher and bidding lower; springers sharply higher, part deck strictly choice. 45-lb. averages. *9.50; others. *8 6(9: asking. *7.25 for Califorlans: slaughter sheep and lambs: Lambs, 90 lbs. down. *66 6.85: medium. *5.254(6; 91-100 lbs., medium to choice. *5616.75: all weights, common. *3.506(5.25: ewes. 90-150 lbs., medium to choice. *lO-2.50: all weights, culls and common. 50c4t*i.50; feeding lambs. 50-75 lbs., good and choice. *56(5.65. By Times Special LOUISVILLE. April 29—Hogs—Receipts. 600; steadv: 170-220 lbs *3.50: 225-255 lbs . *3.15: 260-295 lbs . *2.85: 300 lbs. up. 52.35: 140-165 lbs.. *2.90: 135 lbs down, *2.50: sows. *1.356(2.10: stags. *l.lO. Cat-tle-Receipts. 125: bariev steadv to weak at the week level; most common and medium steers and heifers. *4 504(5.50; only odd head to *6: or better since Monday; bulk beef cows. *34(3.50: bulls. $3.25 down: low cutters and cutters. *1.254(2.50; bulk light Stockers. *4.506(5.25. Calves—Receipts. 200: steadv; better vealers. *44* 4.50: medium and throwout vealers. *3 down. Sheep—Receipts. 250. steadv: bulk better soring lambs. *7.509 8: few fat coarse heavy springers. *7: most throwout. *6 down: old crop lambs, mostly. *4.5# **5.50: latter for ewes and wethers throwouts. *4 down: fat wooled ewes. *2.50 down. Thursday’s shipments—Receipts. 27: cattle. 140: hogs. 377: sheen, none. By United Press LAFAYETTE. Ind... April 29 Hogs Market, steadv: 160-200 lbs.. *3.50; 200-225 lbs.. S3 30 : 250-275 lbs.. S3 25: 275-300 lbs.. 53.20; 300-325 lbs.. *3 10: 130-160 lbs.. S3 40: 100-130 lbs.. *3 25: roughs. *2 75 down; top, calves *5; top lambs. *6. By United Press TOLEDO. April 29.—Hogs—receipts. 150; markets 10c lower; top. *3.50 0 3.65; mixed. *3 5093.65: bulk. *3 50 83 65; pigs, *3.25; lights, *3.25; roughs. *202.25. Cattle—receipts 40: market slow: steady; calves—receipts light: market 50c higher; choice to extra, $66*6.50. Sheep ana lambs receipts light; market steady. By United Press CLEVELAND, April 29—Hogs 1,000; holdover none: steady to 15c lower: 140230 lbs., *3.804(3.85; latter price sparingly 240-300 lss.. *3 504(3.60; pigs. *3 50 Cattle —225; steady; common steers. *4.759 5 85: bulk. *5 50 down: cows. *29 3.50; few t 4; weighty sausage bulls. *3.50663 65: calves—--250; strong; spots 50c or more higher; better grades. *6.5007.00: cull to medium. *4 66; largely *5.50 upwards. Sheep—6oo; dipped {pmbs steadv: springers unevenly lower: bulk shorn offerings. *6.50 down; cull to medium. *36i5 50 according to quality; few plain springers. *7.50. By United Press EAST ST. LOUIS. April 29 —Hogs— Receipts. 7.000; market. 5010 c higher: top. *3.70: most 140-220 lbs.. *3.504*3 65 : 220260 lbs . (3 350 3.50: 100-130 lbs. *3O 3.35: sows. *2.4002.60. Cattle—Receipts. 600: calve*. 400: market, few loads steers, unsold: other classes mostly steadv: mixed yearlings and heifers, largelv. *4.756(5.57; cows. *303.50: low cutters. *1.504(1.75: sausage bulls. (2.256*2.*5: good and choice vealers. *5.75. Sheep—Receipts. 500: market, indications, about steadv: spring lambs. *7: asking up to 36 25 or above for better wooled lambs. By United Press PITTSBURGH. April 29 —Hogs -Receipts. 3.000; market, mostly 304(2>c lower 140-210 lbs.. *3.750 4; 220-250 lbs.. *3.456(3.70 : 260-300 lbs.. *3.2503.40; packing sows. *2.506 2 75. Cattle—Receipts. 35: market, little changed; medium to coed ateers. *5.356* 75; heifers. *4 *5 6 5.75; beef cows. (3.25 0 4.44; lower tract cows quoted *1.500 3: sausage bulls. (2 *563.50: calves, receipts. 200; market, mostly steady; good to choice shorn lambs. (5.754* 6 50. ajpnffg lambs, *809; shorn wethers, 52.7565.25-

Radio. Dial Twisters

STATIONS OF THE NATIONAL BROADCASTING COMPANY WEAF Network WJZ Network ADR A 909 RIMS lIMO WCFL *79 WMAO 979 WJZ • WSAI 1339 CKGW *M KVOO 1119 WCKY 499 WGT 19* WLS 879 252 KOA f*9 ft Y W 1*69 WDAP CIO WHAS 9 WLW 7*9 WBM 659 KPRC *39 WBAI 1439 WENB 7* WHO lev* WOC 1999 WT AM IfTO KSTP 1199 WRAP <99 WFAA 390 MIR 78* WOW 699 WTIC IVW STATIONS OF THE COLUMBIA BROADCASTING SYSTEM A ABC 6*9 WBBM 77* WKRC M* WOWO lt* WCCO >• *OfL 1269 WPG 1199 WON Tt# WIAU 649 WFIW M 9 CKAC .9* CFRB 990 WBT 169* WJJD f 139 KRLD I*4* WFBM 1239 WLAC 1479 KMOX t*9 SATURDAY

—A P. M.— KYW (1020)—Tinv theater: Patiico's orchestra CBS— Laboratory Experiment series. NBC —Elv Culbertson, bridge lesson to WEAF NBC-Danger fighters to WJZ. —9; 15 P. M CBS—Abe Lvmsn and orchestra. NBC—Civic concerts service to WEAF. WGY (790.—Cellist. WSM '6so'—Bulletins; Limerick*. —6:39 T. M.— NBC—Nat'l. Advisory council to WEAF CBS—Life Stori*s of Movie Stars. WLS (8701—Old time party. NBC—Selvins orchestra to WJZ. —7 P. M.— KDKA 19801 —Sacred songs. CBS- Vaughn De Leath and Berren’s orchestra KTHS (1040>—Health talk:; tenor. WBBM (770)—Mallory's orchestra . NBC—K-7 drama to WEAF. WGN (720>—Jovce Kilmer. WLS (870)—Musical program. WMAQ (670)—News of the air. —7:15 P. M.— CBS—Piano team. —7:39 P. M KTHS (1040)—Grosso's orchestra. KYW (1020)—Agnew's orchestra. CBS—lshatn Jones orcheschestra. WBBM (770)—Coon-Sanders orchestra. NBC—Wirges orchestra; ar-' ttsts to WEAF.

WFBM (1200) Indianapolis Indianapolis Power and Light Company p SATURDAY s:3o—Studio program. 6:oo—Laboratory experiment (CBSi. 6:ls—Abe Lvman s orchestra iCBS). 6:3o—Concert trio. 7:oo—Radio drama contest finals. B:oo—Music that satisfies (CBSi. B:ls—Public Affairs Institute (CBS), B:4s—Street Singer (CBS'. 9.oo—Don Redmdn orchestra (CBS). 9:3o—Downev and Wons (CBS'. 9:4s—Biltmore orchestra (CBSi. 10:00—Guv Lombardo and Roval Canadians (CBS'. 10:30—The columnist. 10:45—St. Moritz orchestra (CBS). 11:00—Atop the Indiana roof. 11:30—Arnold Peek orchestra. 12:00 Midnight—Louie Lowe orchestra. A. M. 12:15—Sign off. SUNDAY A. M. B:oo—Church cif the Air (CBSi. B:3o—New world symphony (CBS). 9:oo—Entertainers. 9:3o—Christian Men Builders. 10:30 to Noon—Silent. 12:00 Noon —Sons of Eli (CBS). P M 12:30—Records. I:3o—Symphonic hour (CBS). 2:oo—Cathedral hour (CBSi. 3:00 —Pastorale (CBS). 3:3o—Chicago Knights (CBS). 3:4s—Outdor talk (CBS). 4:oo—Wheeler Cltv Mission. 4:3o—Roses and Drums (CBS). s:oo—Second Presbyterian church. 6:oo—Ernest Hutcheson and orchestra 6:30 —Highway Taveler (CBS'. 6:4s—Mason and Dixon. 7:oo—Gaieties iCBSi. 7:3o—Louie Lowe orchestra. 7:4s—Arnold Peek Columbian* 8:00 —Hopper radio show ICBS'. B:3o—Ziegleld radio follies 'CBSi. 9:oo—Gauchos >CBSi. 9:ls—Bohemians. 9:4s—lndiana roof orchestra 10:00—Casino orchestra iCBS). 10:15—The columnist. 10:30—California melodies 'CBS). 11:00 —Atop the Indiana roof. 11:30—Sign off. WKRF (1400) Indianapolis (Indianapolis Broadcasting. Ine.) SATL'RDAT P M. 4:ls—Harrv Bason. 4:3o—Late sport news. 4:4s—News flashes. s:oo—Vauehn Cornish. s:ls—Evening announcement. 5:45—L00k-em-over contest. 6:oo—Cecil and Sallv. 6:2s—David Lawrence dispatches. 6:3o—W'ard B Hiner. 6:4s—Dinner dances. 7:00 —Edmund Breese. 7:ls—Jerry and Charlie. 7:3o—The Vagabonds. B:ls—Ernest K. Marker. B:3o—The Jewel box. 9:oo—Silent. 11:00—Showboat orchestra. 11:30—Dessa Bvrd at the organ. 12:30—Showboat orchestra. I:oo—Sign off. WLW (700) Cincinnati SATURDAY P. M. 4:oo—Crosley Dealers' hour. 4:30—T0 be announced. 4:45 University of Cincinnati talk. s:oo—Amos 'n' Andv (NBC). s:ls—Dance orchestra from Netherland Plaza 5:30—80b Newhall. 5:45—01d Man Sunshine. 6:oo—Peanut Pietro. 6:15 Rhythm Club with Bob Noland 6:3o—Crosley Theater of the air. 7:00—To be announced. 7:3o—The first nighters (NBCi. B:oo—The Croslev follies. 8:30—To be announced. 9:oo—Sohio. trial of Vivian Ware. 9:3o—Sax Sextette. 9:4s—Headlines of yesterday. 10:00—Octavio's Pancheros. 10:30—Doodlcsockers. 11:00—To be announced. 12:00 Midnight—Sign off. SUNDAY A 7:OO—NBC Children s hour iNBC>. B:oo—Church forum. B:3o—Fiddlers Three (NBC). B:45—A song for todav (NBC'. 9 00_Arthur Chandler Jr., organist. 9:20 River and weather reports. 9:3o—Morning musicale iNBC>. 10:00—Careless Love (NBCi. 11:00—NBC symphonic hour. Walter Damrosch. conducting 'NBC'. 12:00 Noon—Leslie Howard (NBC'. P M. 12:30—Yeast Foamers 'NBC'. 1:00—College of music recital. I:3o—Garden oartv iNBC'. 2 00—Croslev Theater of the Air. 2:30 —To be announced. 3:oo—National Vesner services 'NBCI. 3:3o—Guardsmen (NBC). 4 00—Dr Donald Gray Barnhouse. 4 30—K-Seven (NBC>. s:3o—Three Bakers (NBC’. 6:oo—Hotel Gibso norchestra 6 15— Standing room only 'NBC'. 715—Stag oartv iNBC'. _ . . . 7 45—Making the Movtes .Rav Knight , ' . B.ls—The old singing master (NBC' g 45—Marcella Uhl and her orchestra. 9:oo—Vox Humana 0 30—Piano Moods (NBC’. . . 10:00 Wm Stoess and his flving Dutchmen. 11:00—To be announced.

Fishing the Air

Alice Jov and Paul Van Loan s orchestra will offer "On the Alamo." "Dear to Me" and You Can't Get to Heaven Way" in the program Saturday •* * 3O p. m., over WENR and an NBC network. For the flrat lime In the hUtory of science the sound of a neutron, tiny subdivision of matter is to be broadcast —the epochal event wilt take place during the laboratory experiment, program to be heard over WFBM and the Columbia network between 6 and 6:15 p. m.. Saturday.

HIGH SPOTS OF SATURDAY NIGHT’S PROGRAM S;IS—NBC iWEAFi—Laws That Safeguard Society. 6:o6—Columbia— Laboratory experiment series. NBC iWSAP>—EIy Culbertson, bridge lessons. *ls—Columbia—Abe Lyman .and his orchestra. 6:36—Columbia Life Stories of movie stars. 7 00— NBC iWEAF'— K-7.” Secret Service Bpv story. 7 30— NBC i WJZi— First Nighter. The Diamond Makers ' 8.00 —Columbia—Music That Satisfies. Ruth fitting; Sbilkret a orchestra. NBC tWEAFi— Dance orchestra. 8 15—Columbia —Public Affairs Institute. 10:05 —NBC WEAFi—Buddy Rogers and orchestra.

The problem of working together wIU be the subleet to he discuaaed by Professor Elton Mayo, fatigue research laboratory. Harvard graduate school of

—7:39 P. M NBC—The First Nlghter to! WJZ I t WSM '6so'—Craig's orchesi tra. ( —6 F. 31. KYW (1020)—Maupin s or-i 1 chestra. CBS Shilkrets orchestra and Ruth Etting. WGN (7201—Carl Moore* orchestra. , NBC—Dance orchestra: Walter WlncheU to WEAF. —6:l# P. M CBS—Public Affairs last!-; tute. WBBM (770)—Brlgode s orchestra. NBC—Snoop and Peep to WJZ. —B:3* P. M WBBM (770)—Russos snd , Specht’s orchestras WON (720) Lawrence Saieri no and orchestra. WMAQ 16701—Stamp talk. —8:45 F. SLOBS—Street Singer. NBC—Pianist and organist to WJZ. —9 P. M KDKA ’9Boit—Sports: new,. KYW (1020i—Sports: news. CBS —Redman's orchestra. 'i NBC—Russ Columbo and i orchestra to WEAF WON (720'—Musical mosaics; dream ship NBC--Slumber music to WJZ NBC—Amos 'n' Andv to WMAQ. WSM. WLS. WHAS jWTAM < 1070)—Sports. —9:15 P. M.— KDKA 19801 —Messages to explorers. —9:39 P. M KYW (1020'—Padded fists. CBS—Camel Hour. Morton I Downev to WFBM. WGN.

I business administration, during the program of the National Advisorv council on radio in education over WTAM and NBC network Saturday, at 6:30 p. m. ' Somewhere a Voice Is Calling" will be sung as a tenor solo in the dance with Countess D Orsay program with Ben Selvln s orchestra over WLW and an NBC network Saturday, at 6 30 p. m. A lightninr storm provides the rlimax of the three-act mviterv play. "The Diamond Maker*," to be presented in the First Nighter program Saturday, at 7:30 j P. m.. over WLW and NBC network. Ruth Etting will revive her famous song which aroused public opinion against the Plight of dance hall girls when she sings Cents a Dance" on her appearance with Nat Shilkret s 'Music That Satisfies. Saturday, at 8 p. m„ over WFBM and the Columbia network.

Day Programs

WFBM (1200) Indianapolis Indianapolis Power and Light Company A M MONDAY Prl> club w,th Marguerite Carter. 9:oo—Transcription. 9:05 —Women's hour. 9:4s—Child health talk. 10:00—Lester Huff organ nrogram. 10:15 to Noon—Silent. 12:00 Noon—Farm program. P M. I:oo—Society reporter. I:ls—Salon orchestra 'CBSi. I:3o—Sam Prager (CBSi. I:4s—Four Eton bovs ICBSI. 2:oo—Captivators (CBS'. 2:ls—Minute me of melodv. 2:3o—Two-thirtv tunes. 3.00 to s:3o—Silent. WLW (700) Cincinnati 4 M MONDAY s:3o!—Tod o’ the morning. 6:oo—Morning exercises. 6:ls—Morning devotions. B:3o—The round table. 7:3o—Beautiful thoughts (NBC' 7:4s—Earlv Burdettes, exercises. 8 00—Child care and training. Dr. Ada Hart Arlitt. B:ls—Dance orchestra. B:3o—Our Daily Food. Col. Goodbodv 'NBC'. < 9:oo—Livestock report*. 9:lo—Piano solos. 9:IS—WLW mail bag. 9:3o—Talk bv Beatrice Fairfax iNBC'. 9:4s—Talent Bureau program. 10:00—Ramona. 10:15—Pat Barnes (NBC). 10:30—To be announced. 10:45—River and weather reports. 10:55—Time signals. 11:00—Talent Bureau. 11:15—Mel Snyder's dance orchestra. 11:45—Market reports. U:5Q —Livestock reports. 12:00 Noon—National Farm and Home period NBC). P M. 12:30—Gus Amhelm’s dance orchestra. I.oo—United States Marine band (NBC). 2:oo—Talent Bureau. 2:ls—Organ matinee. Hcrschel Luecke. 2:45 —Varsitv ouartet. 3:oo—Dance orchestra. 3:45 —The chatter.

Produce Markets

Delivered in Indianapolis prices Hens heavy breeds. 13c: Leghorn hens. 11c: Broilers, colored snringers I*l pounds up 17c: Leghorn and black. 1* pounds up 14c: bareback and nartiv feathered 10c. Cocks and stags. 7c: Leghorn cocks. sc. Ducks large white full feathered and fat. 7c; small 6c. Geese full feathered and fat. 5c Young and old guineas. 15c. Eggs— No 1. current receipts. 9c. Butter. 26 to 27c: undergrade*. 24 to 25c. Butterfat 22c These prices for healthv stock free from feed bv the Wadlev Company. By United Press NEW YORK. April 29.—Potatoes —market steady; southern. *44(9,25 barrel; Ida- | ho (1.9062.40 sack; Bermuda, (70 9.50 barrel; Maine, (1.7502.25 barrel; Canada, SI 850 2 50 barrel. Sweet potatoes—market | quiet: Jersev baskets. 25c0*1.50 Southern baskets, 35c4/*i,oo. Flour—market weak; spring patents *4 204(4 45. Pork—market dull: mess, *18.75 Lard- market weak: middle west spot *4.50 04 60 per 100 pounds Tallow—market quiet: special to extra 2 , j6(2 , 4 c. Dressed poultry - market iregular: turkeys. 150 30c; chickens. 156 27c: fowls, 100 22c; Long Island ducks, 16c: brojlers, 20 0 30c; capons, 186/35c Live poultry—market steadv; geese. 70 12c: ducks, 94/12c: fowls. 164/20c; turkeys. 16 i2se roosters. 94/10c: chickens, pullets. 274i 28c; broilers. 124/26e; capons. 250 35c; broilers, 120 26c; capons. 250 35c. Cheesemarket quiet: state whole milk, fancy to specials. lO’jHlO'zc: young Americas, ll‘j 4/12'sC. By United Press CHICAGO, April 29—Eggs—market steady; receipts 20.263 cases; extra firsts, 12 3 4 013'2c: firsts. 126 13 3 4 c: current receipts. 11611 lc; seconds. 10' c. Butter—market steady; receipts 7,848 tubs; extras. 19'ac; i extra firsts. 18 J ,#l9c: flrtss, 17’ 2 0 18 l ac: seconds. 16# 17c; standards, 190 c. Poultry; —market steadv: receipts no cars in: one due; fowls. 134/ 15c; stags. 11c; leghorns. 12c; ducks. 114t14c: geese. 8e: turkeys. 15 0 23c; roosters, 8c; broilers, 214/22c; leg-: horn broilers, 20c. Cheese—twins. 9*40 lOHc; young Americas. lO'jHlOHc. Potatoes—on track. 209; arlvals. 101: ship- | ments. 746; market steady to firm; Wisconsin round whites, 750 85c; Idaho rus- i sets. *1250 135, Minnesota and North Dakota cobblers, 750 85c. Texas Triumphs, j few (4. By United Press CINCINNATI. O. April 29—Butter— Packing stock, No. 1. 18c: No. 2. 12c; No. 3,10 c; butter fat. 13015 c Eggs—Higher, cases included, extra firsts. 12He; seconds. 10c; nearbv ungraded, 12c. Live poultry —Thin and coarae stock sells only at heavy discount; fowls 5 lbs. and over. 13c; 4 lbs and over. 13‘c; 3 lbs. and ! over. 13'ic; Leghorns. 3 lbs and over 12'jc; roostres. 7c; colored broilers, l'.v j lbs. and over. 21c; 2 lbs. and over. 21c; partly feathered 14c; leghorn broiler*. l‘s j lbs and over. 21c; 2 lbs. and over. 21c; I partly feathered. 14c; leghorn broilers, l'.-a j lbs. and over. 20c. 2 lbs. and over. 21c; black springers. 12c; ducks, under 3 lbs.. : sell at liberal concessions, ducks white, I 4 lbs. and over. 12c; under 4 lbs.. 10c: j colored 4 lbs and over. 12e; under 4 i lbs.. 10c; turkeys. No. 1 hens. 8 lbs and over. 18c. young toms, No. 1, 10 lbs. and over. I6c. By United Press CLEVELAND. April 29 —Butter—Market, steadv: extras. 23 ! jc; standard*. 23>,c. Eggs—Market, firm, extra flraU. 13c: current receipts. 12'ic. Poultry—Market, steadv: heavy fowls. 15016 c; medium : fowls. 16017 c; Leghorn fowls. 13</14c; heavy broilers, 240 25c; Leghorn broilers. . 20621 c; ducks. 14615 c; old cocks. 10c; geese 11012 c; stags. 11012 c; capona. 23c Potatoes—Ohio. New York. Pennsylvania. 60065 c: porer. 50c per bushel; Maine. Green ML. *1.254(1.35: few *1 50 per 100lb. tack: Idaho Russet large sited. *1.756 ; 1(5 medium sited, *1.6061.65 per 100lb. sack. Building Permits Indiana farm bureau, filling station, 731 West Henrv. *3 000. Indiana farm bureau, building. 731 West Henry. *6 000 Indiana farm bureau, tanks and pumps. 731 West Henrv. 3500. William Mendail. reroof. 1408 North Harding. *230. 4

—9:3* F. M.— ilnßC—Johnnv Htrapi orchestra to WEAF. NBC—Plano Moods to WJZ. WLS (170'— Barn danca. —9:4# F. SUWON (7201—Wavne Kings orchestra. . NBC—Ted Cook and orchestra to WJZ. —l9 F. 36. KYW (lo2oi Master ■ orchestra. . . CBS—Lombardo and Roval Canadian*. NBC -Buddy Roger* orchestra to WEAF NBC—Funks orcheitra to WJZ WMAQ i67oi—Dance program (2 hour*'. . WRVA 1110) Sport*; Old fiddlers WTMJ .620)—Dance orchesi tra. —19:1.5 P. M.— ■KSTP (1460‘—Dance program (2 hours'. WBBM (770>—Around the town. WON '72o—Ted Weem s orchestra. —16:39 P. M. — CBS—Stern', orchestra NBC—Agnew's orchestra to WJZ. —16:45 P. M.— I WGN i72(P —Cart Moore's Ar Kav’t orchestral. —ll P. M KYW f 1020 i— Pantco's orchestra. WENR (870'—Hines' orches- ; tra. —11:36 P. M.— WENR iß7o>—Master's orchestra. —11:45 P. M WDAF (610 i— Nighthawk 1 frolic.

.APRIL 30, 1932

WEAK ACTION . CONTINUES IN WHEAT MART Corn Again Sets New Lows for the Season in All Deliveries. BY HAROLD E. RAINVILLK 1 nited Preaa Staff Correspondent CHICAGO, April 29.—Aggressiv* buying of wheat developed just before the close on the Board of Trade today and rallied to around the previous close. Stimulated by the report of large export sales of hard winters and a revision in German tariffs, wheat recovered rapidly from Its early lows. There was a strong rally In corn after that grain had set new lows early. Oats and rye also recovered after getting into new lowground for the year, largely the late strength in wheat. Charges Arr Fast At the close wheat was unchanged to ' cent lower, corn was ' 3 to \ cent lower, oats unchanged to ** cent lower and rye \ to IS cent lower. Provisions were at new lows early, but recovered slightly. Liverpool was weak and closed without making a recovery, IS cent lower. There were reports of good export business on the break but they had no effect. The market was active early with changes so fast as to be bewildering Cash prices were 1 to 2 cents lower. Receipts were 26 cars. Corn Options Slump May corn came within h cent o£ l the low set in September, 1898, ad liquidation continued, the other ■ deliveries setting new lows lor the season. Stop loss orders were picked up but there was a fair rally later, leaving the market j ■'’ cent lower at mid-session. Bookings early were 210.000 bushels, making a total of 1.000.000 bushels for the week. Cash prices j were *4 to 1 cent lower. Receipts were 269 cars. All deliveries of oats again were at new lows and the market made ■ only a small recovery, showing to 's cent lower at mid-morning. Cash prices were to 1 cent lower. 1 Receipts were 54 cars. Chicago Grain Range —April 29 I WHEAT- p r rr. Opfn. High. Low. Clow close. I Mav.. .53 5 , .54 1 * .52’, .53’, .54 j Julv— Old. .56', .57', .55’, ,56 s . 56-’ New 56 s , 56 s , .55', .56 s , .56', j Sent.— I Old. .58 s , .59 s , .58 59', .59', New 58', .59 .57’, .59 .58 s * Dec 61 s , 62 s , .61', .62 5 , .62', , CORN ( Mav.. 29', .29’, 29’, 29 s , .30', Julv.. .33', .33', .324, .33 33', Sept.. 35S .35 s , .35', 35 s , .35’, Dec 35’, .38<* 35 s , .36 .36', OATSMav.. .21 .21 s , .20’, .21', .21", Julv.. .21', .22 .21', .21’, .22’, Sept.. .22', .22', .22', 22 s , ,22 s * Dec.. 24 s , .24 s , .24 .24 s , .24’, RYE— Mav.. .37 .37 .36 .36', .37", Julv.. .40 *4 ,40'i .38’, 39', 40', Sept.. .42*, .42 s , .41 .41 s , 42'* Dec... .43 .43', .43 .43 LARDMav.. 4 95 4 20 4 10 4 20 4 20 Julv.. 4 27 4.32 4 2.4 432 432 Sept.. 4.37 4.45 4.35 445 442 Oct 4 37 4 42 4 35 4.42 4 42 BELLIES —- m Mav.. 425 4.25 402 415 425 T July.. 442 442 4 20 430 442 Sept.. 440 4.52 440 4.52 462 Bjj Time * Special CHICAGO. April 29—Carlots: Wheat, 38: corn, 183; oat*. 42; rye. 22, and bar- , ley. 4. Bp Timet Special CHICAGO. April 29.—Primary receipts; Wheat, 437.000. against 1.182.000, corn, 412.000. against 450,000; oats. 189 000, against 201,000 Shipments: Wheat. 700.000. against 661.000: corn. 142.000. again*! 681.000; oata. 185.000. against 378.000. Bp United Press TOLEDO. April 29.—Grain in elevators, transit billing Wheat—No. 2 red, 55‘,® 56'.,c. Corn—No. 2 yellow. 33'>(34c. Oats— No. 2 white, 25',®26',c Rye—No. 2, 43® ( 44c. Track prices. 28'ic rate. WheatNo. 2 red, 50(ci50',c; No. 1 red. lc premium: No. 3 red. s , to 3 cents discount; No. 4 red. 2', to 4 cents discount. Corn— No 2 vellow. 28',/29',c; No. 3 yellow, 27',f/ 28',c. Oats—No. 2 white. 22',0i24c; No 3 white. 21 ',,4; 23c. Clover—Prime. *9. Alsvke—Cash. *8.75. Butter—Fancy creamery prints. 244i25c. Eggs—Extras. 111,6* 12c. Hay—Timothy, per cwt. 80c dp Times Special CHICAGO. April 29.—Cash grain close; Wheat—No. 3 red. 54',; No 2 mixed. 54',c. Corn —No. 2 mixed, 31'ic; No 3 mixed. 30 s ,c; No 1 yellow. 3l’c: No. 3 vellow. 3131,c. No 3 vellow. 30’,4i31c;4 No. 5 yellow. 30c: No 2 white. 31x'.iS2c; No 3 white, 30',f(i31’,c; No 5 while. ! 30'C Oats—No. 2 white. 21 5 ,4i24c; No. ■3 white. 21 a 21 s c: No. 4 white. 20 s ,c: No. 2 mixed. 21 ',e Rye—No .ales. Barley ! 42®85e. Timothy—s3 'a 3.25. Clover *9 ! rr 13.75.

In the Stocks Market

I>U?n>son A: McKinnon i NEW YORK, April 29.—T.Jnsettlement in stocks was continued, with liquidation resumed late Thursday carried over today. The pessimistic feeling, reflected in stocks was found in all principal markets, including bonds, wheat and cotton. Aside • from the delay of congress acting upon important legislative programs. namely, the tax bill and the economy committee s bill to reduce federal expenditures, the news contained nothing to which this general discouragement could be ascribed. Apparently trade, finance and industry the country over are waiting upon the actual balancing of the' federal budget for which the above mentioned measures were designed. It is evident that this uncertainty is counteracting much of the good that the federal reserve board’s open market policy is striving to accomplish. While lt has not deterred the federal reserve from its credit campaign, it has not yet made possible the expansion of commercial credit that is desired. Doubtless the chief obstacle in the situation at the moment is the lack qf confidence. In this respect, there was some relief .Tom uncertainty when the ' interstate commerce commission approved several railroad loans which had been in doubt. This action found a favorable response in the second grade rail bonds but had no similar effect upon the railroad stocks. Otherwise the market found no incentive in the news items and demand on the whole remained absent, awaiting more definite indications of general stabilization.

TUNE IN WFBM TONIGHT 10 O’clock “THE TRIAL of VIVIENNE WARE”