Indianapolis Times, Volume 44, Number 57, Indianapolis, Marion County, 16 July 1932 Edition 02 — Page 8

PAGE 8

STOCK MARKET HOLDS FIRM IN SHORT SESSION Rails and Oils Take Lead as List Advances: Trade Light.

Average Stock Prices

Average of thirty lndmtrial* for Friday 45 47, up 1.13. Average of twenty rail* 15 66, up .85. Average of twenty utilities 18 31, up .56. Average of forty bond* 7124. up 14 BY ELMER C. WALZER I nited Press Financial Editor NEW YORK, July 16.—The short stock market session today left the list just about where it was at the close Friday. Prices turned irregular after early firmness. Gains and losses about balanced. According to preliminary calculations, the Dow, Jones & Cos. industrial average stood at 45.29, off .16 points; rail average at 15.73, up .07 point, and the utility average at 18.33, up 02 point. Sales totaled 350.180 shares, compared with 235.000 shares last Saturday. Aggregate market value of ten leading stocks was $3,939,009,570 against $3,962,690,772 Friday, a decline of $22,691,202. Advancing tendencies under the leadership of the oil and railroad shares were interrupted by the weekly car loading report and the department of commerce June foreign trade report, both considered adverse. Exports Exceed Imports The car loading report was for the week ended July 9, which included the Independence day holiday, and therefore its decrease was not a true indicator. In the same week Canadian car loadings rose 2,781 cars to 39,053 cars. Exports of merchandise in June amounted to $115,000,000, and imports $121,000,000. The extent of America’s gold loss in the first six months was revealed in the department of commerce report. Exports of the metal in that period were $767,838,000 and imports only $146,175,000. A year ago, America exported $789,000 and imported $239,941,000 in gold. Railroad shares were strong early in the session and many of them closed with gains despite the car loadings figures. The week’s total loadings just reported was expected to mark the low point for the season as heavier grain movement is anticipated from now on. Atchison closed 24' 2, up V, Union Pacific, 32 off %, and New York Central, 12%, off V French Franc Slumps Standard Oil of New Jersey closed at 26, off %; Auburn Auto, 49%; off 1%; American Telephone, 74%, off %, and American Can, 33%, off 14. Oil shares eased from their highs before the close. In the bond market, domestic corporations were strong, while United States issues eased off. Rails and oils were in demand, imparting strength toe their stocks. Cotton ruled steady and grains moved irregularly in a narrow range. Overnight market news included a decline in gold earmarked for foreign account of more than $16,000,000, and traders were of the opinion a return flow of gold from Europe would soon set in. The French franc today made a new low for the year at 3.91% cents a franc. This is only a fraction above the level at which it would be profitable for United States to take French gold.

PA* ICS

THERE will be quiet on the local j golf front next week, with the women In South Bend taking part in the state championship and the six-man Indianapolis public links team in Louisville competing in the national championship. One week away, Sunday, July *i. brine* to Indianapolis one of the biggest golf attractions the city has seen for tt,any a day. Gene Sararen and Tommy Armour, international figures in the golfing world, will he in town to stage the dedication match at the new Coffin golf course. tt tt tt Frank Woerner of Beech Grove. Is In charge of ticket sale and can be reached at the citv park board office during the dav. There will not be anv comohmentarv tickets The nrtre will be SI and in addition to giving the ticket holder the right to witness the match it will carrv the right for the purchaser to plav a round of golf, eighteen holes, over the new Coffin course or anv other municipal links if used before Aug 6. The revenue will go to the citv and countv cmplovees food relief kitchen. tt tt tt Dave mitchell, south Grove links “ace,” has resigned his place on the Indianapolis public links team and will not compete in the national championship at Louisville next week. Dave was low medalist in the national play at St. Paul last year with a thirty-six-hole total of 148 for the qualifying round. It was Dave who fired a record 67 over Riverside course recenllv in the final eighteen holes of the local flftv-four-holc qualifying test to determine the six-man local team. The 61 gave him the No. X oosition by a three stroke margin. Dave ran into a lob recently and such things are hard to find. To go t# Louisville meant loss of the Job. tt tt tt Burns Maus. a team mate at South Grove and recent winner of the citv public links match plav title, will take Mitchell s place. In that flftv-four-hole ouallfication test. Maus missed tving for the fourth, fifth and sixth positions bv one stroke. Three of the plavers had 226 and Burns 227. W T e are certain that Burns, a great match plaver. will do well at Louisville. The Brown hotel will be Indianapolis golf headauarters in Louisville. M tt M / MONDAY, at South Bend, twelve of the sixteen women who qualified in the state championship flight last year are expected to be on hand for the eighteen holes qualification test in this year's championship. The sixteen of last year were Mr*. A. E. Rulson, Ft. Wayne: Miss Frances Welter, Gary; Miss Dorothy Gustafson, South Rend; Miss Lois Rond, Ft. Wayne: Mrs. 3. C. Patten and Mrs. Charier Kelley Jr.. Indianapolis; Mrs. C. A. Jaqua and Mrs. Ren Stevenson, Indianapolis; Misses Elisabeth Abbott and Lou Adams. Indianapolis; Miss Elisabeth Dunn and Mrs. C. H. MrCaskey, Indianapolis; .Miss . Alice Rrlle English. Lafayette; Mrs. Scott Lrgce. Indianapolis; Miss Geraldine King. Wabash, and Mrs. H. L. Cooper. South Rend. Miss Dunn defeated Miss English in the final contest for the title. • m m It to said Mrs Adams will net be bark front the rest to compete next week. Miss Abbott has changed residence to California and while she i.-- visiting here now she is said U> be ineligible to compete. Mrs. Kelley and Mrs Legge are not reported in the early field of entries.

New York Stocks IBy Thomson At McKinnon)’"""

B </ United Press NEW YORK, July 16—Sales on the New York Stock Exchange today totaled 400,000 shares. Curb stock sales were 30,000 shares. —July 16— Prev. Railroad*— High. Low Close. close. AtehUon 25 24% 24% 24 Atl Coast Lin* 12% 12% Halt & 0hi0.... 6% 6% 8% 6% Chesa <k Ohio.. 12% 11% 11% 11% Chess Corp 8% *‘4 6% 6% Can Pac 10% 10% 10% 10% Chi Grt West 1% Chi N West 3% 3% 3% 3% C.RI ArP 3 Del L Ac W 11% 11% 11% 11% Del Ai Hudson 41 40 Erie 3% 3% 3% 3% Erie Ist pfd ... 4% 4 Great Northern.. 8 s 8 8% 8% Illinois Central.. 7% 6% 6% 6% Kan City So ... ... 4% Lou Ac Nash 12>4 11% 12>4 12 M. K Ac T 2% Mo Pacific ... 2 2% Mo Pacific pfd 3% 3% N Y Central.... 13% 12% 12% 12% NY NH Ac H 9 8% 8% 9 Nor Pacific 9% 9% 9% 9% Norfolk Ac West 65 O Ac W 5% Pennsylvania .... 8% 8% 8% 8% So Pacific 9% 9 9 9% Southern 3% 3% 3% 3% St Paul 1 ;St Paul pfd 1% 1% St L Ac S F 1 Union Pacific ... 34% 32% 32% 33 W Maryland 3% 3'4 West Pacific 1% 1 Fouinmenls — Am Car Ac Fdv 8 4% 5 5 Am Locomotive 5% Am Steel Fd 3% ... Gen Am Tank.. 11 10% 11 10% Genera! Eire . 10% 10% 10% 10 Gen Rv Sienai.. .. ... ... 8% N Y Air Brake 4% Poor A- Cos 1% Press Stl Car.. % % % ... Pullman .. 14% i4% Westineh Ar B 10% 10 10% 9% Westingh Elec.. 18% 18% 18% 18% Rubbers— Firestone ... 10% 11 Fisk % % Goodrich ... 2% ... Goodyear 8% 8 8% 8% U S Rubber 2% Motors— Auburn 52 48% 49% 51% Chrysler 6% 6% 6% 6% General Motors. 9 8% 9 9 Graham-Paiee 1% 1% Hudson 7 6% 6% 6% Huno 1% 1% Mack 13% IS 13 13% Nash 10% 10 10 10% Packard 1% 1% 1% 1% Reo ... 1% 1% Studebaker 3% 3% Yellow Truck .. 1% 1% 1% ... Motor Access— Bendix Aviation 6% 6 6% 6 Bore Warner .. 4% 4% 4% 4 Brices 3% 3% 3% 3% El Auto Lite 10% 10% 10% 10% Motor Wheel 2% Murray Bodv 2 1 /* 2% Stewart Warner ... 2% Timkin Roll 10% 9% 10% 9% Minine — Am Metals ... , 2% Am Smeit 8% 8% 8% 8% Anaconda Cop.. 4 3% 4 4 Alaska Jun 9% 9% 9% 9% Cal Ac Hecla 1% ... Cerro de Pasco. . 5 4% 5 ... Dome Mines.... 10% 10 10 10 Freeport Texas.. 12% 12% 12% 12% Great Nor Ore... 5% 5% 5% 5% Homestake Min .. ... 123'% 123% Int Nickel 5% 5% 5% 5% Inspiration 1% Kennecott Cop.. 6% 6% 6% 6% Maema Cop ... ... 5% Nev Cons 3% 4 Noranda 14% 14% 14% 14*2 Texas Gul Sul.. 15% 15% 15% 15'/* U S Smelt 10% 10% 10% 10% Amerada 17% 17% 17% 17 Atl Refining... 13 12% 12% 12% Barnsdall 4% 4% 4% Uv, Houston 2% 2% 2% 2% Sbd Oil 8% 8% 8 % 8% Mid Conti 5% 5 Ohio Oil 8 7% 7% 7% Pan-Amer <Bi 7% 7% Phillips 4% 4 4% 4 Prarie Pipe 7% 7% Pure Oil 3% 3% 3% 3% Royal Dutch 37% 17% Shell Un 4'/* 3% 4 3% Simms Pt ... 5% 5 Cons Oil 5% 5% 5% 5% Skellv 3% Stand of Cal 20% 20% 20% 20% Stand of N J .. 26% 26 26 26% Soc Vac 1 8% 8% 8% 8% Texas Cos 1! 10% 10% 10% Union Oil 9% 9% 9% 9% Steels— Am Roll Mills .. 9% 9% 9% ... Bethlehem . 9% Byers AM ill 10 McKeesport Tin 35 34% 34% 34% Newton ... .. 2% Repub I Ac S ... 2% .. U S Steel 24 23% 23% 23% Vanadium 8% 7% 7% 8% Youngst SAz T 6% ... Tobaccos— Am Sumatra • ... 4 Am Tob A New.. 55 54% 54% 54% Am Tob B New. 56% 55% 55% 55% Con Cigars - 5 ... Lig As Mvers B . 45% 45 45% .. Lorillard 13% 13% 13% 13% Reynolds Tob... 29 28% 28% 28% United Cig % % Utilities— Adams Exp ... ... 2% Am For Pwr 3% 3% 3% 3% Am Pwr As Li.. 5% 5% 5% 5% ATAs T 75% 73% 74% 74% Col Gas As El 6% 6% 6% 6% Com As Sou .... 2% 2 2% 2% Cons Gas 38% 37% 38 37% El Pwr As Li ... 3% 3% 3% 3% Gen Gas A .... % % % % Inti T As T 5% 5 5% 5% Lou Gas As El 13 Natl Pwr Ar Li.. 8% 8% 8% 8% No Amer Cos 17 16% 17 17 Pac Gas As El 20% 20% Pub Ser N J 33% 33 33% 32% So Cal Edison 20 19% Std G As El 11% 10% 11% 11% United Corp ... 5 4% 5 4% Un Gas Imn .... 13% 13% 13% 13 1 2 Ut Pwr & t A.. 2% 2% 2% 3% West Union 17% 16% 16% 16% Shipping— Am Inti Corp ... 3% 4 United Fruit ... 18% 18 18 18% Foods— Am Sug 20% 21% Armour A 1% 1% 1% 1% Beechnut Pkg 30 Can Dry 8% 9 Childs Cos ... ... 1% Coca Cola 79 78% 78% 78% Cont Baking A 3% Corn Prod 30% 29% 29% 30% Cudahy Pkg 25% Cuban Am Sug 1% 1% Gen Foods 22% 22% 22% 22 Kroger ... ... 12% Nat Biscuit.... 25% 25% 25% 25% Nat! Dairv 16% 16% 16% 16% Purity Bak 6 5% Safeway St 35% 35 35 35% Std Brands 11% 10% 11 11 Drugs— Cotv Inc 2% ... Drug Inc 28% 27% 28% 28 Lambert Cos ... 30 30 Industrials— Am Radiator 4 4 Gen Asnhalt ... 8 8 Lehigh Port 6% 5% Otis Elev 11 10% 10% 11 Ulen *4 ... Indus Chems— Air Red 35% 35 35 36 Allied Chem 49% 47% 48% 48% Com Solv 5% 5% 5% 5% Dupont 25% 25% 25% 25' 2 Union Carb 18% 17% 17% 17% U S Ind Alco 17 17 Retail Stores— Assoc Dry Gds 3% Kresge S S 8% 8% Mav D Store ... ... 11 Mont Ward 5% 5% 5% 5% Penny J C 17% 17 17 17% Sears Roe 13% 12% 13 13 Woolworth 27% 26% 36% 26% Amusements— Eastman Kod .. 38% 37% 38 38% Fox Film A* 1% I', Grigsby Grunow % % Loews Inc 16% 15% 16 16 Param Fam 1% 1% 1% 1% Radio Corp 4 4 R-K-O 2% 2%

Net Changes

By United Press NEW YORK, July 16.—Closing prices and net changes on principal stocks traded today on the New York Stock Exchange follow: Up. Off. Allied Chemical 48% ... % American Can 33% ... 1% American Telephone 74% ... % Atchison 24% % ... Auburn 49% ... 1% Case 26% % ... Chesapeake Ohio 11% ... % Consolidated Gas 38 •% ... Consolidated Oil 5% ... % Du Pont lunch.) 25% Electric Power (unch.) 3% General Electric 10% % ... General Motors iunch.l .... 9 International Tele tuncl;)-. 5% Loew's, Inc. (unch.) 16 Montgomery Ward (unch.).. 5% N. Y. Central 12% ... % North American (unch.).... 17 Paramount i% % ... Public Service 33% % ... Radio tunchanged) 4 Stand Oil, Cal 20% % ... Stan. Oil. N. J 26 .. . % Texas Corp 10% % ... Union Carbide 17% ... % Union Pacific 32% ... % United Corp 5 % .’. U. S. Steel 23% ... % Western Union 16% % ... Westinghouse Electric 18% .. % Woolworth 26% ...

New York Bank Stocks

ißv Thomson A- McKinnoni —Julv 16— Bid. Ask. Rankers 47 49 Brooklyn Trust 120 135 Sontrai Hano\er 91' = 9S' base National 23 1 , 25 Chemical 27 3 29‘ Citv National 27 •i> 29' , Corn Exchance 48‘ 2 51 ' 3 Commercial 90 94 Continental , 13 15 Empire 17'; 19'; First National 915 1.015 Guaranty 193 198 Irvine 15 l Manhattan * Cos 11*, 19', Manufacturers IS'j 2fl l 2 New York Trust 1 64 Public 17 19

Warner Bros % Miscellaneous— City Ice Ae Fu 13 Proc Ar Gam 24 23% 23% 23% Allis Chal 6 5% Arne Can 34% 33% 33% 84% J I Case 26% 25% 26', 1.5% Cont Can 21% 21% 21% 21% Curtis* Wr % % Gillette B R 15% 15% 15% 15% Gold Dust 11% 11% 11% 11% Int Harv 13% 13 13 13 Int Bus M 62% 61% 62 61% Real Silk 2% Un Aircraft 10 9% 9% 9% Tran*america ... 3% 3% 3% 3%

Chicago Stocks Bv James T. Hamlll Ac Cos.

—July 16— High. Low. Last. Bendix Aviation 6% Borg Warner ... 4% Cent 111 Securities % Cities Service 2% 2 2% Commonwealth Edison. 57 56% 56% Cord Corp ... 2% Grigsby Grunow % Keystone Steel 4 Libbv McNeil 1% Lynch Corp 12 11% 12 Middle West Utilities ' Quaker Oats 71 * 69% 70 Swift Ar Cos 12% 12% 12% Swift International ... 20% 19 s , 19% U S Gypsum com 14 U 8 Radio Ar Tel 7% Utility Ar Ind % Utility Ar Ind pfd 2%

The City in Brief

Indianapolis Smoke Abatement League Friday presentd the achievement cup for June to the Monon railroad. William D. Upshaw, presidential candidate of the Prohibition party, will conduct a week's revival program, beginning Sunday, at Cadle Tabernacle. Subjects for Sunday afternoon and evening sermons are “A Congressman’ Views, of. OldTime Religion” and “The Great Mystery.” Edith Spry, 11, of 1416 St. Paul street, incurred cuts on her knees Friday night when she fell on a glass sign in the front yard of her home. Home of Louis Urbancic, scene of a liquor raid Thursday night, is at 752 Warman avenue instead of 75 as published Friday. Doris Cunningham, 16, R. R. 8, Box 65, disappeared from her home Friday morning, her mother reported to police. Announcement of standing committees was made Friday night at a meeting of the Allied Florists in the office of Smith & Young, 229 West New York street. Appointments were read by Clarence Green, recently named president of the organization. W T illiam Z. Foster, Communist party candidate for President, will speak Sunday afternoon at Tomlinson hall at a mass meeting sponsored by the Unemployed Council of Indianapolis. Foster also will speak Sunday night at Workers’ Center, 603% South Capitol avenue. Attendance records at Riverside park were broken Friday at a picnic of the Indinapolis Street Railway Company, park officials announced. Mayor Samuel L. Trabur of Rushville will .speak at the annual reunion of the Rush-Fayette County Association Sunday in the Brookside community house.

New York Curb Market

tßy Thomson & McKinnon —July 16Close i Close. Alum Cos of Am 26 I Hudson Bay ... BVi Am Gas & Elec 18%!Humble Oil ... 39% Am Sup Pwr ... 1% Imp Oil of Can 7'% Ark Gas A % Int Pet 9'4 Ass. Gas & Elec 1 Midwest Util ... % Cities Service... 2%'Mt Prod 3% Comm Edison.. 57 Penroad 1% Deere & C 0.... 5 I Salt Creek .... 4 Elec Bd * Sh. 7 !Std of Ind 19 Ford of Eng ... 3 iUn Lt & Pwr.. 2% Goldman Sachs lValUn Fndrs %

Bank Clearings

INDIANAPOLIS STATEMENT —July 16Clearings $ 2,567,000.00 Debits 5,907,000.00 Clearings for week 15,246,000.00 Debits for week 34,110.000.00 TREASURY STATEMENT —July 16Net balance for July 14 ....$254,524,965.82 Expenditures 6.897.851.59 Customs rects. month to date 7,624,988 18

Foreign Exchange

(By James T. Hamill <V Cos.) —July 16— Openu. Close. Sterling. England 3.54% 3.54% Franc, France 0391% .0391% Lira, Italy 0510% .0510% Franc, Belgium 1385 .1386 Mark. Germany 2373 .2373 Guilder Holland 1 .4026 . 4024 Peseta. Spain 0803 .0802 Krone, Norway 1761 .1760 Krone. Denmark 1920 .1920 Yen, Japan 2762 .2768 New York Liberty Bonds —July 16— Liberty 3%s '47 101.3 Liberty Ist 4%s ‘47 101.22 Liberty 4th 4%s 38 ...> 102.19 Treasury 4%s '52 105.20 Treasury 4s '54 102.9 Treasury 3s '55 93.15 Treasury 3%s '56 100.20 Treasury 3s '47 98.10 Treasury 3%s '43 (March) 98.12 Treasury 3%s 43 (June) 98.25

Investment Trust Shares

(By James T. Hamlll & Cos.) —July 16Bid. Ask. Am Founders Corp com 37% .50 Amer and Gen Sec (At 12% .50 Am Inv Tr Shares 1.25 1.50 Basic Industry Shares 1.00 .... Collateral Trustee Shares (A) 2.12% 2.62% Corporate Trust (newt 1.16 1.22 Cumulative Trust Shares 1.60 Diversified Trustee Sh (A)... 4.25 Fixed Trust Oil Shares 1.25 .... Fixed Trust Shares IAI 3.75 Fundamental Trust Sh (At. 1.75 2.12% Fundamental Tr Shares iB). 1.87% 2.25 Leaders of Industry (A) 1.87% Low Priced Shares 1.25 .... Mass Inv Tr Shares 10.00 11.00 Nation Wide Securities 1.65 .... North American Tr Shares.. 1.17 1.23 Selected Cumulative Shares.. 3.50 4.00 Selected Income Shares 1.75 2.25 Shawmut Bank Inv Trust... .25 1,50 Std Amer Trust Shares 1.70 .... Super Corp of Am Tr Sh.. 1.50 Trustee Std Oil (A) 2.85 3 05 Trustee Std Oil (B) 2.62% 3.12% U. S. Elec Light & Pwr tA). .10.00 12.00 Universal Trust Shares 1.20 1.33 AGED DENTIST DEAD Dr. Steele Gilmore Passes at Princeton Home. Dr. Steele F. Gilmore, 80, well known dentist and inventor, died Friday in his home at Princeton. He lived in Indianapolis from 1907 to 1928, practicing dentistry and teaching at Indiana Dental college. Dr. Gilmore was a pioneer business man of Princeton. He was inventor of a removable dental bridge. He was president of the Indiana State Dental Association in 1912 and 1913. Funeral services were to be held today.

THIS IXNLUA'JNArVHLiIO TIMHiO

SWINE SINK TO LOWER LEVELS AS WEEK ENDS Cattle and Calves Dull in Steady Range; Sheep Unchanged. Hogs ended the week in a price range mostly 25 cents lower than Friday’s average at the city yards this morning. Underweights were 15 cents off. The bulk, 120 to 350 pounds, sold for $4.25 to $4.75; extreme top recorded at $4.85. Receipts were estimated at 2,500 holdovers were 779. Cattle were nominal with receipts numbered 100. No test of the market was apparent in sheep. Prices were quotably steady around $6.50 down. Receipts were 50. HOGS July. Bulk. Top. Receipts. 9. *5.00®; 5.55 $5.55 1,500 11. 5.05(3) 5.55 5.55 5.000 12. 5.05®: 5.55 5.60 6.000 13. 4.80® 5.30 5.30 6.000 14. 4.60® 5.10 5.10 5.000 15. 4.50® 5.00 5 00 3 500 16. 4.25® 4.75 4.85 2.500 Receipts. 2.500; market, lower. G4O-160) Good and choice.. $ 4.55® 4.65 —Light Lights— U6O-180) Good and choice... 4.75® 4.85 —Light Weights—-(lßo-300) Good and choice... 4.75® 4.85 (200-220) Good and choice... 4.65® 4.70 —Medium Weights—-(22o-250) Good and choice... 4.55® 465 1250-200) Medium and g00d... 4.35® 4.45 —Heavy Weights—-(29o-350) Good and choice... 4.25® 4.35 —Packing Sows—-(3so-500) Medium and g00d... 8 00® 4.00 (100-130) Slaughter pigs 4.35® 4.45 -CATTLE Receipts. 50; market, steady. Good and choice * 7.50® 9.26 Common and medium 4.50® 7.50 (1,000-1.800) Good and choice 7.50® 9.50 Common and medium 6.00® 7.50 —Heifer*— Good and choice 6.50® 8.00 Common and medium 3.50® 6.50 —Cows— Good and choice 3.25® 4.75 Common and medium [email protected] Low cutter and cutter 1.25® 2.50 —Bulls (yearlings excluded) — Good and choice beef 3.00® 3.75 Cutter, common and medium.. 2.25® 3.00 CALVES AND VEALERS Receipts, 100; market, steady. —Vealers — Good and choice * 5.50® 6.00 Medium 4.00® 5.50 Cull and common 2.50® 4.00 —Calves— Good and choice 3.50® 5.00 Common and medium 2.50® 3.50 —Stocker and Feeder Steers— Good and choice 4.50® 6.00 Common and medium 3.00® 4.50 (600-1,500) Good and choice 4.50® 6.00 Common and medium 3.00® 4.50 SHEEP AND LAMBS Receipts, 200; market, steady. Good and choice S 5.00® 6.50 Common and medium 3.00® 5.00 Ewes, medium and choice .... I.oo® 2.00 Cull and common 50® 1.00 Other Livestock Bn United Press CHICAGO. July 16—Hogs—Receipts 6,000, including 5,000 direct; practically no acceptable bids on limited offerings; generally demand steady prices with few indifferent bids. *4.85®4.95 on good to choice 190-230 lbs., but insistently held to $5.15; few weighty packing sows about steady at $3 [email protected]; shippers took non# with probably holdovers, 2.000. Cattle—Receipts. 1,000; compared week ago: strictly choice grain fed steers and yearlings. 25® 50c higher; all others steady to 25c higher, early advance on these classes having been erased; light heifers and mixed yearlings steady to 2-5 c higher; cows about steady; these classes showing early upturn along with steers; bulls active ana strong to 25c higher; vealers $1 lower: stackers and feeders scarce, steady to weak; extreme top fed steers. $9.75; practical top $9.60 for both weighty steers and long yearlings; heifer yearlings $8.50: not many weighty bullocks in run; bulk grain feds, [email protected]; grassers and short feds. $4.50® 6.75; average cost slaughter steers for week around $8.30 compared with $5.90 at low time in May. Sheep —Receipts, 1,000; today's market, nominal; for week ending Friday 95 doubles from feeding stations; 27,300 direct; fat lambs and yearlings. $1®1.50 lower; plain kinds off most; slaughter ewes barely steady, lower in instances; country loadings continued large in the face of falling prices until extreme close: week's practical top, $7.25 paid early; closing bulks follow: good to choice native ewe and wether lambs, $5.50® 6; choice 80-88 lbs. rangers, $6; native bucks, $4.50®5; throwouts, [email protected]; slaughter ewes, sl@2; best yearling wethers, $5 earlier in week. By United Preat EAST ST. LOUIS. 111., July 16.—Hogs— Receipts, 2,000; uneven, mostly steady to 10c higher than Friday’s average; bulk, 150-225 lbs.. $4.75®4.90; tap. $5; 225-260 lbs., $4.60®4.75; less desirable. $2.50®4.50; extreme heavies down to *4.15; 140 lbs. down. [email protected]; sows, mostly $3.50®3.75. Cattle—Receipts, 200; calves. 100. Sheep —Receipts, 200. By United Press FT. WAYNE, Ind., July 16.—Hogs—Market 15c off; pigs. $4.50(u 4.60; light lights, 54.60®4.75; lights, $4.75(b 4.85; mediums, $4.60(0 4.75; heavies. $4.50(0 4.60; roughs, $3.75(0 4: stags, $2.50®3. Calves, *6: ewe and wether lambs. $5.75; bucks, $4.75. By Times Special LOUISVILLE, July 16.—Cattle —Receipts, 100, compared week ago all slaughter classes strong to mostly 25c higher; week’s bulk common and medium grass steers and heifers. $4.50®6; few $6.50 and top $7.50; bulk beef cows, [email protected]; best, [email protected]; low cutters and cutters. [email protected]; buTk bulls. $2®g.75; top, *3; bulk light stockers, s4®s: common down to *3. Calves —Receipts, 250; steady for Saturday and week good and choice. *4@s; medium and Throwouts, *3.50 down. Hogs—Receipts. 500, 10c lower; 170-220 lbs., $4.80; 225-255 lbs.. $4.60; 260-295 lbs.. *4.25: 300 lbs. up, $3.75; 140-165 lbs., $4.20.; 135 lbs. down, *3.80: sows, $2.65®3.40: stags. $2.40; market, 55c lower for week. Sheep—Receipts, 300, Saturday * market,'steady; bulk better lambs. $6®6.25; choice $6.50: market, 50c ®sl for week with most loss on better grades. Friday's shipments; 84 cattle; 100 calves, and 1.029 sheep. By United Press CINCINNATI. O. July 16.—Hogs-Re-ceipts, 1.700. including 1.100 direct; slow, about steady, with some weakness on heavy butchers and sows; better grade 160 to around 225 lbs.. $5.25; 230 to 260 lbs.. $4.90®5; 300 lbs. down to *4.65; heavier weights. $4.25: 130 to 150 lbs . *4.65; sows mostly *3.50; some $3.75. Cattle—Receipts 400: calves 50 mostly nominal; one load good to choice 950 pound steers $8.75. Sheep—Receipts, 500: nominal. By United Press EAST BUFFALO. July 16.—Hogs—On sale. 1.300; slow, steady to shade lower; desirable 150-200 lbs *5.35: 225-240 lbs.. *[email protected]; 250-260 lbs.. $5®5.10; rather plain 150 lbs., $5.15. Cattle—Receipts, 100: good yearling steers and heifer, $7.25; plain grassers, $4.25; for week dry feds active, mostly 25c higher; grassers, slow, steady to strong; better offering steers and yearlings, *[email protected]: few loads $8.75®9.10; fat rough steers and short fed. $7®7.50: flashy grasses, $6®6.25, plain kinds. $4.50®5.50; fat cows. *3.75® 4.50: cutter grades, 51.50®2.50; calves, receipts, none: vealers, steady throughout weak; good to choice mostly $7.50; common and medium. 55®6.50. Sheep—Receipts, 300; medium to good 67 lb. lambs, steady at $6: for week lambs. $1®1.50 lower; recent advance completely erased; supply liberal; quality plain; good to choice. $6 50®7; early bulk. $8: throwouts, 54.25®5; handyweight ewes, $2.50. By United Press LAFAYETTE. Ind.. July 16.—Hogs—Market, 15® 30c lower; 160-200 lbs.. *4.60; 200-210 lbs., $4.50; 210-225 lbs.. $4.45; 225235 lbs., $4.40 : 235-250 lbs., $4.35; 250-275 lbs., *4.25; 275-300 lbs., *4.15; 300-325 lbs., *410: 150-160 lbs.. *4.35; 130-150 Its.. *4.10; 100-130 lbs. *3.85; rough*. $3.75 down; top calves, $5; top lambs, $5. By United Press PITTSBURGH. July 16.—Hogs—Receipts, 600; market, strong to 10c up; 160-210 lbs.. *5.4565.60; 220-240 lbs., $5.1065.35; heavier weights about *5 downward: packing sows. $3®3.75. Cattle—Receipts, 500: market, nominal; medium to good fed steers and yearlings* quoted s6® 8.25; plain grassers down to $4.50; grass heifers, $3.75® 5.50; medium to good cows, S3® 4.25; calves, receipts. 25; market, nominal: choice vealers quoted $8.50® 7. Sheep— Receipts. 300: market, steady: good to choice 60-75 lb. lambs. *6®6.75; good wethers, $2.75 downward. By United Press TOLEDO. July 16:—Hogs—Receipts, light; market, steady. Cattle —Receipts, light; market, steady; calves, receipts, market, steady. Sheep and lambs—Receipts, light; market, steady. Plumbing Permits Arthur Burris, 468 West Washington, two fixtures. Freyn Brother*. Ml Weet North (rear), one fixture.

Porkers Rise Adds Millions to American Farmers Income

\\ \ ' V* \ Hogging the limelight in the market new* just now is Mr. Porker, Vt\ \ \ I shown above in a striking closeup, who has recently added $200,000,000 \t\ \ \ \ to the value of the American farmers’ holdings by the advance in hog V \ —I 1 prices. It may be that he will lead us out of the depression by lead,,ing °ther farm prices upward. Chart shows how hog prices on Chl-

Upturn in Hog Values May Mean End of Nation’s Business Ills. Editor's Note—John W. Lowe, author of the following article, is business editor of the Cleveland Press and a well known writer on economic subjects. He is a frequent contributor to business and financial Journals of national circulation. BY JOHN W. LOVE (Written for .The Indianapolis Times and Other NEA Service Newspapers.) The long decline in wholesale commodity prices seems to be near an end—at least, the signs appear to point in that direction. With hogs leading the parade of rising farm prices and other lines showing signs of joining in the joyful procession, many millions of dollars have been added recently to the value of the holdings of the nation’s farmers, with whose purchasing power prosperity begins. The rise has continued for several weeks, giving hope that the change at last is fundamental. The recent addition of $2 a hundred pounds to the price of hogs adds a “paper profit” of around $200,000,000 to the property of American farmers. It means that $4 has been added to the value of every hog now owned by the farmers, since the government estimates there are now 50,000,000 hogs on American farms and they will average 200 pounds each. Cattle, Beef Move Up The reecnt rise in prices has also extended to cattle and beef. Cotton, corn, wheat and other crops have also shown improvement and a general strengthening in tone, as indicated by the daily market reports. However, these still have a long way to go. If it is true that the change in prices is fundamental, then one of the longest declines in history has

Bright Spots of Business

Bv United Press NEW YORK. Julv 16.—A rise of 15.2 per cent in shipments of pneumatic tire casings in Mav. as compared with April was reported bv the Rubber Manufacturers Association. TOLEDO—Fifty-one maior industrial plants, mainly automobiles companies, have added 1.281 workers since July 1. according to reports to the Merchants and Manufacturers’ Association. NEW YORK American Airways, Transport subsidiary of Aviation Corporation, set new high records for mileage, passengers carried and air mail poundage in June, it was reported. MONTREAL—Freight loadings on Canadian railroads during the week ended July 9. totaled 39.053 cars, a gain of 2,781 cars over the preceding week. It was reported. TORONTO—McIntyre Porcupine Mines. Lt declared an extra dividend of 12% ce nts a share in addition to the resrular quarterly distribution of 25 cent*, in United States funds.

In the Cotton Markets

CHICAGO —July 16— . High. Low. Close. May ggj 2 ctobe / 586 5. 585 December 6.11 - 6.00 6.01 NEW YORK . High. Low. Close. •Januant 8.10 599 6.01 March 626 6.13 6.26 May 6.41 6.37 639 October 5,90 5.77 5 8? December 604 5,92 6.01 NEW ORLEANS . _ High. Low Close. January 6.06 6.02 606 March 6.30 6.16 6.20 J. ul ,y. 5.16 5.16 5.16 Oc tob 5.86 5.76 5.84 Dumber 6 ,0 l 5.89 5.98 Marriage Licenses Rav E. Lawson 32. of 407 Grand avenue, farmer, and Ooal Walters. 22. of 407 Grand avenue housekeeper. Floyd Barnes. 26. of 2723 North Pennsylvania street, collector, and Laurene Tuck Toolev. 25. of 1150 West Thirty-third street stenographer. James W. Froschauer. 22. of 33 East Sycamore street truck driver, and Jessie Marie Wolfe. 17. of 1036 South Meridian street, housekeeper. Albert H. Thompson. 24. of 310 North Illinois stret Y M. C. A. secretary and avenue E ‘ ERhert- 2l - ° r 2601 Roosevelt Albert Harold Chilton. 22. of 1509 West New York street, ground keeper. Perry f6l7 lU West ,n 4w n Ygrk Ma s^lt rnehm - 17 ’ of Births Boys Tolbert and Rosa Chadwick, 2341 South State. Girls Roy and Ethel Bragg, 956 North Oakland. Deaths Walter H Burns. 47, 65 Kenyon, eardio vascular renal disease. Elva Pennie Parish. 68. 51# Tacoma, cerebral apoplexy. Edward August Wise. 57. 1505 Burdsal boulevard, carcinoma. John Rav. 50. city hospital, brain tumor. David B. Brooks, 69. 6216 College, arteriosclerosis. Ira A. Kiibourne, 79. 909 Greer, carcinoma. James Sheridan Hughes. 8 months. 1014 East Georgia, pneumonia Charles S. Wright. 62, city hospital, pulmonary tuberculosis. James R: tried o Riggs. 84, 7H North Pine, eerebral hemorrhage. Drueilla Hensley, 68. 946 West Twelfth, clrrhosl# of liver. William Harper Fisk. . 18M North Pennsylvania, tubereuloeia. Addison Mayfield Fitchett. 71. 1110 North Seville, pernicious anemia.

finally exhausted itself, stocks of commodities are being used up and developing scarcities will begin to revive business activity. A few weeks more should tell whether this new price upturn really presages a return to better times whether it is just another false start like those that have been made in the commodity markets previously. Just a year ago prices turned joyfully upward, then appeared to stabilize and by October it seemed pretty certain the long decline was past. But the world again was disappointed as prices began to fall. Wholesale prices in general usually turn up in June, owing to several seasonal changes which come at that time. It would have been disappointing if this had failed to come. Now, that it has come, we may view the general situation with more confidence. Dollar’s Value Soars An upward turn in farm prices is important to everybody because it signals a turn for the better in business, since the farmer is the source of our prosperity. And, generally, when prices are no longer going down manufacturers buy materials with more confidence, merchants renew their stocks. As the result, Industry spurts. It was high time that something intervened to turn the current of

SURVEYOR MOVES TO FIRE 3 AIDS IN 1933

Pay Increases, However, Sought for Aids by Judge Williams. Marking the first county official to submit a 1933 budget dropping any employe from the payroll, Bruce Short, county surveyor, today filed his budget estimate with Charles A. Grossart, county auditor. Short proposes elimination of three positions in the surveyor’s office. He would do away with the job of draftsman, at $1,500 a year; one chainman, at $1,200, and one rodman at $1,200. His budget request was $18,600 compared with the appropriation of $23,200 this year. This sharply contrasted with budgets, filed by three other officials Friday, demanding increases for salaries and operating expenses. Timothy P. Sexton, county treasurer, seeks an additional appropriation of approximately $20,000 and Ira A. Haymaker, recorder, wants an increase of $1,840. Pay increases for his employes also were asked by Superior Judge Joseph R. Williams. The treasurer asked a budget of $115,665, compared with $96,462.60. now in effect. He seeks $4,000 for his chief deputy, now drawing $3,000, an increase for his cashier from $2,400 to $3,000 and approximately $54,900 for other deputies. “Work of the treasurer's office has increased and we must have more money,” Sexton said. Haymaker estimated his budget at $33,720 for 1933. His appropriation this year was $31,880. SCHOOLS FIGHT CUT Indiana and Purdue May Be Excepted in Bill. Indiana and Purdue universities won a temporary victory today in their fight to prevent a flat 20 per cent cut in salaries of professors and officials of the school when a tentative decision was reached at a meeting of legislators and university heads to eliminate these schools from slashes proposed under the bill of Representative Albert Walsman (Dem.), Indianapolis. Among the school officials who met with the house and senate members to oppose the cut were Dr. Edward Elliott, president, and R. B. Stewart, controller of Purdue university, and U. H. Smith, treasurer of Indiana university. Before the meeting closed, Walsman said he would eliminate the two schools from his bill, W’hich provided a graduated reduction for all state employes. He expects to present his bill to the house of representatives next week. Eckener Hurt in Auto Crash KEMPTEN. July 16.—Hugo Eckener, airship designer and pilot, his wife and daughter, were injured slightly today when their automobile struck a tree m Eckener swerved it to pass another automobile.

prices in the other direction. By averaging all wholesale commodity prices together it has been passible to show that they had gone as low as they were in 1905 and 1906. This has meant that debts contracted in flush years after the World war had to be paid with dollars which suddenly became as valuable as dollars were in 1905 and 1906. Dollars were dollars then, you remember, and they have been the same sort of dollars again—big dollars, hard dollars, precious dollars. Higher Price Needed The recent price excitement has centered mainly on the hog market, because Chicago hog quotations advanced approximately $2, reaching their highest point since last October. This particular rise carried the price to $5.50 a hundredweight, as against $3.30 a hundredweight during the last week in May. Cattle and sheep likewise responded with new highs, and on the same day cotton had advanced $5 a bale from its lew. Os course, this would be considered a very low hog prioe by all that we had been used to before 1931. A price of $8 is needed to help put the corn belt on its feet again. But another increase of the same amount would bring the price close to that. The highest in recent years was around sll in 1929.

Dow-Jones Summary

Devoe & Reynold* Inc. and subsidiaries in six months ended May 31, 1932, reported profit ot $13,548 after expenses and charges, before federal taxes, against $199,377 tor six months ended May 31, 1931. Consolidated Cigar declared the regular quarterly dividend of $1.62'% on prior preferred stock, payable Aug 1, of record July 25. the company also declared $1.57 on 7 per cent preferred, payable Sept. 1. of record Aug. 15. Canadian car loadings for week ended July 9 were 39,053 cars, an increase of 2,781 over previous week. Alpha Portland Cement Company In twelve months ended June 30, 1932, reported net loss of $1,193,449 after taxes, depreciation, etc., against net income of $546,583 equal after 7 per cent perferred dividend requirements to 57 cents a share on 711,000 common shares in twelve months ended June 30, 1931. Crude oil deliveries for nine companies formerly in Standard Oil group, declined during June, averaging 264,340 barrels dally, against 273.987 in May and 302.692 ta June. 1931; six months daily average 263,347 against 276.954 in like 1931 period. HEAT PREVENTS CADETPARADES C. M. T. C. Rules Melted by Scorching Sun. Military requirements for C. M. T. C. candidates at Ft. Benjamin Harrison have melted somewhat under the scorching sun of the last two days with cancellation of regimental parades. Training in automatic rifle fire will be continued. Companies of the first battalion were called to the range Friday and other units will receive training each day, except Sunday. Church service, at which attendance will be voluntary, have teen arranged for Sunday. Services for all faiths will be held. Practice polo game between the Eleventh infantry officers and members of the Rolling Ridge Club is scheduled for 3; 30 this afternoon and at 3 Sunday a regular game will be played. PARK POOL TO OPEN Ellenberger, Cleaned, Will Be Ready Sunday. Swimming pool at Ellenberger park will be open Sunday, H. Walden Middlesworth, city recreation director, announced today. The pool was closed to permit draining and cleaning in preparation for the expected crowd Sunday. The municipal beach at Twentysixth street has been reopened.

Local Wagon Wheat

Ci tw grain elevators are neving 13c for No. 3 soft wheat. Other grades on their merit

.U vita M

1 JULY HITS NEW RECORD LOW IN WHEAT TRADING Flood of Selling Orders Hammers Option Down at Close. BY HAROLD E. RAINVILLE United Press Stslt Corresoondent CHICAGO, July 16.—July wheat j fell 44 cents a bushel on the Board of Trade in the last half hour today under a flood of stopj loss orders, setting anew all-time j low record price for futures. All deliveries went into new low | ground for the season as evening-up and commission house selling increased. The market had been very listless, with volume light until near the close, holding near the previous close. Liverpool and Winnipeg were steady early on the report that Russia had bought Argentine wheat ; to go to Vladivostok, which had a | steadying effect here. Corn held fractional gains, refusing to break | with wheat. Oats and rye sold off | with wheat. At the close wheat was 1 cent | lower, corn was % to % cent high- | er. oats were unchanged to % cent lower and rye was •% to % cent iower. Provisions were firm. Cash prices were: Wheat, un--changed to % cent lower! corn, cent higher, and oats unchanged to Ti cent lower. Receipts were: Wheat, 144 cars,' com, 66 cars, and oats, 50 cars. Chicago Grain Table j WHEAT- “ JU ‘ V I *~ juiy OMn - Hlh - Low- Close, clo": St ** Jiw corn- 1 * 4 ’ m '* • 497 :so ’- :*i* ’ 4 iW* Sl 'F .30 % net. sem.-; :!s% :§$ f 3 ' 3 Dec.. .33 .33% 32% ’i OATS— * 33 * 32 • -}B% .18% .18% .18% 18*4 D^c I’’ 1 ’’ ’2lt i? I* .19% .19'. RYE— 21 * M 3 214 J l% 21% Julv. nominal jsi l 2g i' gg l - :"% :3?% LARELl 34 " 34 = ' 33% ' 33T * 34 • July.. 5.15 5.17 5.15 515 srn SeDt.. 5.00 500 5.00 502 497 Oct., nominal 407 4 a4 "^bellies 111 *' 462 <*> Julv. nominal *OO 494 Scot- 600 6.00 6AO 600 5:" By Times Spceial > July 16 —Carlots: Wheat. 147 l corn, 57, oats, 65; rye, 2, and barley 2. 4 By United Press CHICAGO, Jiily 16 —Cash (train close; Wheat—No. 1 red, 48®48%c; No. 2 red 12? : * a i? ple , l r * d J red ■ 421 * r : No 1 J? ?®; £O. 2 hard. 48c: No. 3 hard. 47%® 4i a c. No. 1 yellow hard, 48%c; No. 2 vellow hard. 45%®48c; No. 3 yellow hard. 46%e; No. 1 mixed 48%; No. 2 mixed! 47 .sc- Corn—No. 1 yellow, 33 %c; No. 2 yellow, 33%®33%c; No. 2 white! 33%® 33 “4C- Oats—No. 2 white, 19%®21c, No 3 18 i^ 20c ' No sales. Bariev - Timothy *7fc£l2. By Times Special 7 78 : Primary receipts; t. 878.000, against 4 257.000; corn. 260 000 against 321.000; oats, 208.000. aeainst 148,000. Shipments: Wheat 76* - 000 against 2.920.000; corn. 445.000 257,000; oats, 115,000. against 125,4 By United Press irrTin L s ! L r>o i J * Uly , 18 -— I Cash grain close; grain In elevators transit hilling. Wheat—sk°i’ a Mi d ' 44 '=®45%c. Nn. 2 yellow, 35*36*2C. Oats—No. 2 white 23tfi24r 25 2. 36® 37c. Track prices 1 8 %0 rate. Wh*at—No. 2 red. 39%®40c; No 1 *° and cent premium; No. 3, % to 2 2C discount. No. 4 red 2 cents to 4 cent* discount. Corn—No. 2 yelow. 31 f 2<®32c* 3 5' 2 V,} c - Oats—No. 2 white! 20®21c; No. 3 white. 19®20%c. Butter - 22c. Eggs—l4%@lsc. Hay—Boc per cw t.

Produce Markets

lve £ ed J n todlanaoalte price*: Hen*, heavy breeds. 11c: Leghorn hens. Sc: £°‘, ore 2 springers. 3 lbs. an<l n?vfil 4t V 2 „ to J* in®' - 12c: bareback and partly feathered. 10c: Leghorn and black 1 % lb*, and up. 10c: cocks and stags. 5c Leghorn cock*. 4c Ducks, large white fu feathered and fat. sc: small. 3c. Gees full feathered and fat. sc. Young antold guineas. 15c. Eggs—Approved buvingrades of Institute of American. Poultr Industries—No. 1. 14c: No. 2. 9c; No. 3 . B R tt ® r ~ l ? to 20: undergrade*. 18 t 19c butterfat. 14c. These Drices so healthy stock, free from feed. No sic' ‘ noultrv accented. Quoted bv the Wadle Company. By United Press h,u EW m YOR ?' Jlllv I®-—Potatoes - Market ?iil;.o N K W J f rse l'i 82.25® 2.50: Southen 75c®$2 barrels: Maine. *1.40®1.80 barrel 1 Sweet potatoes— Market. auiet; .Jer-v baskets. $1.65; Southern baskets. 50c®$l 50 flour—Market .auiet: spring patents, S3 90 -_ Po . rlc r —Market, auiet; mess. $20..>5. Lard-Market steady; middle vest spot. $3.40(0 5.50. Tallow Market steady special to extra. 02%®.02%c. Dressed' poultry—Market. auiet; turkevs. 10fri29c: chirxens 14®26c; fowls 10®18c: Lone Islands. ll®l 4c Live noultrv—Market, dull: eee S e 7®l2c: turkevs. lO'&IOc: roosters. 124/ 13rducks. B®l2c: broilers 124i22c. Cheese 1 Market, auiet: state whole milk fanev to specials. 18®21c; young America ll>, ® ll%c. Butter- Market, firm: creamers tra*. 18%c: special mark*. 19%®19%c. Eggs—Market, steady to Arm; nearbv *h te specials. 19', 9®22%c; standards 184/ tvrehandled. 15®16c: mediums. 174/19' rr.B.ct2.c C° astfi - 18%®23%c: nearbv bro” nl 16%®24c. By United Press CHICAGO. July 16.—Eggs Mari'-1. steady; receipts. 10.878 cases: extra firsts. 14%4715c: firsts. 13%®14%c current re. cetDts. 12H13C. seconds. 11 %c ButterMarket, steadv: receipts. 11.971 tub" extras. 18'ic: extra firsts. 17® 18c. first'- i% 45 16c: seconds. 13®14o: -tandards. 1 s'■ c Poultry—Market, about steadv receipt-- 6 trucks; fowls. 13c; springers. 17(4; 18c.- L'chorns 9%c: ducks. 9411%c. geev 84/itrturkevs. 10®i2c: roosters. 10c: chicken.' 1447 19c. Leghorn broilers. 13c: stags lie! Cheese—Twins. 9%®10%c: voune Amen, cas 10%®10%c. Potatoes-—On track. 3*B: arrivals. 12(. shipments. 645. market, steadv: Missouri Cobblers. 70®80r: Kansa* Cobblers. 65®75c: Illinois Cobblers. 90c. FIGHT~ MUST BE KEPT UP, SAYS WET CHIEF Many Congressmen Will Stall on Platform Pledges, He Asserts. Thorough organization, including wards and precincts, was urged today by William Stokes, secretary of the Association Against the Prohibition Amendment, in a statement issued from the association's office in the Consolidated building. “It is a far cry” Stokes asserts, “from platform declarations to the election of the right congressmen, keeping them on the track and the obtaining of the passage of a repeal resolution.” Many senators and represents, tives, the statement continues, “will stall, quibble and straddle until the last minute, regardless of party platform declarations.” The statement closes with an appeal for funds.

LOANS AT REASONABLE RATES FO* ALL WORTHY PURPOSES The Indianapolis Morris Plan Company Oelftware and Ohio St*. Klley ISM

ELLIOTT R. TIBBETS “Authorized Agent’* TRAVELERS INSURANCE COMPANY fth Floor Chamber of Coounere* Bids. *nr MM Rn.. Hlmboldt ISM