Indianapolis Times, Volume 44, Number 224, Indianapolis, Marion County, 27 January 1933 — Page 32

PAGE 32

LIGHT SELLING . FORCES STOCK SHARES LOWER Rail Issues Off in Mixed Range; Losses Are Fractional. Average Stock Prices Average of thirty Industrials for Thursday, high 62.79. low 61.61. last 61.73. ofT .60 Avtran of t wenty rails. 26 62. 27 60. 27.97, ofT 02. Average of twenty utilities. 27 96. 27 56. 27 65, off 14. Average of iorty bonds, 80.49. up .32. BV ELMER C. WALZER t'nited Press Financial F.riitor NEW YORK, Jan. 27.—Most stocks receded fractionally from ihc previous close at the opening#on the Stock Exchange today. Canadian Pacific, an exception, opened with a block of 3,000 shares at lit;, off a full point. Other railroad shares were mixed in a fractional area. Delaware & Hudson was at 46>4, up V* ; Atchison 43, off J i: Chesapeake & Ohio 28 r '6, unchanged; New York Central 18%, off %, and Pennsylvania 1854, unchanged. American Telephone dipped to 105'i, off 1 2, while American Can was at 60%, off Allied Chemical 86'4, off 1 1; Westinghouse Electric 29%, up Vi ; Montgomery Ward 14 Li, unchanged; General Motors 13%. unchanged; public service 53%, off ,% and Reynolds Tobacco B 32%, ofT %. Bank Clearings INDIANAPOLIS STATEMENT —Jan. 27 Clearings $1 658.000.00 Debits 3.346.000 00 TREASURY STATEMENT —Jan. 27Net balance for Jan. 25 $355,486,137.56 Expenditures 5,226.089.78 Customs rects., mo. to date 14,958,208 83 Foreign Exchange (By Abbott, Hoppin & Co.i —Jan. 27Open. Sterling. England $3,38 9-16 Franc, France 0390 5-16 Lira, Italy 0511% Franc, Belgium 1388 Mark, Germany 2379 Guilder, Holland 4018 Peseta, Spain 0819 Krone, Norway 1736 Krone. Denmark 1700 Yen, Japan 2100 Investment Trust Shares (By Abbott, Hoppin & Cos.) —Jan. 26 Bid Ask Am Bank Stks Corp $ 150 $ 1.65 Am Founders Corp > .87 1.00 Am & Gen Sec, A 5.00 10.00 Am Investment Trust 5h.... 1.00 10.00 Basic Industry Shares 2.05 2.15 British Type Inv. Tr. Sh 55 .75 Collateral Trustee Shares, A 305 3.20 Corporate Trust Shares (oldt 1.65 1.75 Corporate Trust Shares (new) 1.66 1.90 Cumulative Trust Shares... 2.79 2.88 Diversified Trust Shares, A.... 7.12 7.50 Diversified Trust Shares. B ... 5.62 6.25 Diversified Trust Shares, C.. 220 2.40 Diversified Trust Shares, D... 3.87 4 25 First Insurance Stock Corp.... 1.87 2.25 First Common Stock Corn..., 1.40 165 Fixed Trust Oil Shares ,A.... 5.85 5.95 Fixed Trust Oil Shares ,8... 4.70 4 80 Fundamental Trust Shares, A 3.00 3.25 Fundamental Trust Shares, B 3.00 3.25 Leaders of Industry. A 2.12 2.25 Low Priced Shares 2.12 3.00 Mass Inves Trust Shares.... 14.37 15.62 Nation Wide Securities 2.63 2.73 N Am Trust Shares (1953)., 1.37 1.50 N Am Trust Shares (55-56).. 1.77 1 87 Petroleum Trust Shares, A .. 5.00 10.00 Selected Am Shares 1.80 1.95 Selected Cumulatives Shares.. 5.12 5.50 Selected Income Shares .... 2.62 3.00 Std Am Trust Shares 2.62 2.12 Super Am Trust Shares, A.. 2.50 2.60 Trust Shares of America .... 2.37 2.75 Trustee Std Oil, A 3.12 3.50 Trustee Std Oil, B 3 12 3.50 U S Elec Light <V Power, A.. 15.00 15 50 Universal Trust Shares 2.10 2.20

INDIANAPOLIS WEEKLY LIVESTOCK REVIEW

FOR WEEK ENDING THURSDAY. Jan. 26 By U. S. Department of Agriculture. Cattle The cattle market was basically unchanged this week with slight, spurts of strength about offsetting periods of weakness, the net result being a near-steady set of quotations. A slightly improved tone was noted on inbetween grade yearlings, but there was a weaker undercurrent or. weighty cattle, mainly because of a slow and lower market at many of the outside markets where the supply of big weights was large. Relatively few weighty cattle, however, were included in the local run. In fact, strictly finished cattle of all weights were in light supply here, (he big end of the crop consisting of light steers and yearlings lackipg in finish with a fair percentage of cows. Heavy cows met with a narrow outlet but the thinner cows, especially if light, got action. Buyers continued to show a decided preference for stock that would produce cheap and light cuts of meat. Loral cattle receipts were slightly smaller than a week earlier, the total for four days being 3,300 head against 3.673 a week earlier but the three-day supply at twelve important markets was the same as a week earlier but 10 per ccn above a year earlier. The week s top of $6.50 went to a load of 1.039-pound yearlings and 1.041-pound weights made $6.40 while 1.202-pound steers topped at $6.25 in their section. The big end of the crop of steers and yearlings consisted of s4(</5 kinds with a few loads of fed offerings upward to $6. Butcher heifers held mainly to a s4'u 475 basis, with a few ioaris and lots of fed heifers at ss',/5.50. a few head reaching $6. Beef rows bulked at s2'u 2.75 with odd lots of good cows at s3r<z 3.25. Low cutters ana cutters went at $1.50® 2. The vealer market reached an extreme top of $7.50 at the close of last week when supplies fell off and the shipping demand improved but prices were promptly lowered to a top of $7 with the bulk of the best vealers at $6 50® 7 as this week opened. The average quality of the vealer supply was somewhat improted this week. Hogs The hog supply shortened gip here as the week opened and priceft went to a new high since last November, but the run soon expanded, and with limited shipping orders on hand, the advance faded until today's prices were steady to 5c lower than a week ago with pigs. 10U 25c lower. The four-day total at 21 000 head was about the same as a week earlier ana the twelve market total for three davs showed a slight increase from a week earlier, but a 25 r r reduction from a year earlier. A slight increase was noted in the local pig supply while relatively few butchers averaging over 300 lbs were included in the run. The week's top was $3.60 with Thursday's top at $3 45. The bulk of Thursday's offering sold at the following schedule of weights and prices; 160-200 lbs.. $3.45: 200-210 lbs . S3 40 210-225 lbs.. $3 35: 225-235 lbs.. $3 30: 235-250 lbs . $3.25: 250-275 lbs . $3.20: 275-300 lbs $3.15; 300350 lbs, S3 10; 350-400 lbs $3.05: 140-160 lbs, $3 40; 120-140 lbs, S3 25; 100-120 lbs, $3; packing sows, $2.25®2.65. Sheep The fat lamb market made some headway Monday and scored a rather sharp advance despite a liberal offering Tuesday but this upturn was practically erased late Wednesday and further losses developed today with the result that closing prices were about 25c lower than a week ago. Local receipts were relatively heavy at 7,500 head for four days against 3.875 a week earlier. Lighter receipts was the rule at outside markets until Wednesday when the aggregate supply was heavy. It was this liberal mid-week run which allowed buyers to depress prices at all markets. Native lambs started the week here at $6®6.25 while Wednesday's early trade developed a $6 25® 6.50 basis with a fewchoice lots as high as $6.75. but Thursdays trade was mostly on a $6 basis with throwouts at $4 down. Fed western lambs sold at $6 65®6.75 late Tuesday but dropped to a s6.4o''; 6.50 basis Wednesday and to a $6.15® 6.25 level Thursday Fat ewes bulked at $1.25® 2 throughout the week. RAW SUGAR PRICES —Jan. 26 Hgih. Low. Close. January 85 .84 ,R 4 March '' 70 .69 .69 May V. 72 .71 .71 iulv 77 .75 .77 eptember 80 .79 .79 tcember 84 .83 .83

DOW-JONES SUMMARY

General Railway Signal Cos , for year of 1932 reported net earnings amounting to $1.55 a common share, against $3 33 a share In 1931. Subscription* for the It.'Sfl.OOfl.nOO 5vear 2% per cent treasury notes totaled $7,800,006,060. American Brake Shoe A: Foundry Cos . for year of 1932 showed earnings of $2 70 a share on 7 per cent preferred stock, against *1.14 a common share after pteferred dividends in 1931. Daily average volume of reserve bank credit outstanding during week ended Jan. 25, amounted to $2,080.000 000, a decrease of $24,000,000 from previous week, but $267,000,000 increase over like 1932 week. General Outdoor Advertising Cos. derlared the regular quarterly dividend of $1 50 on preferred stock, payable Feb. 15, of record Feb. 6. Brokers loans during week ended Jan. 25, increased $11,000,000 to $376,000,000; non-brokers loans decreased $6,000,000. T C. C approves $1,300,000 loan by Reconstruction Finance Corporation to Missouri Pacific to meet taxes and equipment maturities. Reserve system ratio on Jan. 25. totaled 65 4 against 64 7 a week ago, and 87.4 a year ago; New York bank ratio 59 8 against 59.1, and 69.6 respectively. Bethlehem Steel in December quarter reported net loss amounting to $5,621,672 after all charges, against net loss of $5,425,724 In previous quarter, and net loss of $1,776,938 in December 1931 quarter; year of 1932 net loss totaled $19,404,431, against net income of $115,745 in 1931. Intertvpe Corporation declared the regular quarterly dividend of $2 on first preferred stocky payable April 1, of record March 15. California Lands Inc. subsidiary of subsidiary of Trans-America Corp.. in 1932 sold 246 farms at total price of $1,288,798 with down payments totaling 29.3 per cent. In the Cotton Markets CHICAGO —Jan, 2(l—- - Close. March 6 25 6.19 6.19 Mav 6 41 6.31 6.31 Julv 6.52 6.44 6.44 October 6.70 6.62 6.62 December 6 83 6.75 6.75 NEW YORK January 6.82 6.80 6.80 March 6.19 6 09 6.09 Mav 6.33 6.22 6.22 Julv 6.44 6.35 6.35 October 6.63 6.54 6.54 December 6.77 6.68 6.69 NEW ORLEANS January 6.78 6.68 6.68 March 6.16 6.07 6.07 Mav 6 28 6.20 6.20 Julv 6.42 6.33 6.33 October 6 60 6.51 6.51 December 6.71 6.63 6.63 Indianapolis Cash Grain —Jan. 26 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, basts, 41%c New York rate, were: Wheat -No. 1 red, 4147 42c; No. 2 red, 40 ® 41c; No. 2 hard. 424/;43c. Corn—Steady: No. 3 white. 15%®16%c; No. 4 white. 14 1 btfc 15AwC: No. 3 yellow. 15% 16 1 2c; No. 4 veilow. 14' 2#15%C; No. 3 mixed, 14%<&15%c; No. 4 mixed, 13%<3! 14 %c. Oats Steady; No. 2 w'hite, 13%@13%c; No. 3 white, 12%®13%C. Hay—Steady; (f. o. b. country point taking 23%c or less rates to Cincinnati or Louisvillei —No. 1 timothy, $5.50®6; No. 2 timothy, $6®6.50. —lnspections Wheat —No. 2 red, 2 cars; No. 5 red, 1 car. Total, 3 cars. Corn-No 3 white, 1 car; No. 4 white, 3 cars; No. 3 yellow. 2 cars; No. 4 yellow, 19 pars; No. 5 yellow. 3 cars; No. 4 mixed, 1 car. Total, 29 cars. Oats —No. 2 white, 2 cars; No. 3 W'hite. 15 cars; No. 4 white, 1 car. Total, 18 cars. INDIANAPOLIS WAGON WHEAT City grain elevators are paying for No. 2 soft wheat, other grades on their merits. CHICAGO STOCKS (By Abbott, Hoppin & Cos.) —Jan. 26 High, Low. Close. Asbestos Mfg .. 4% Bendix Aviation 10 9% 9% Borg-Warner 8% 8% 8% Chicago Yellow Cab .. 7% Cities Service 2% 2% 2% Commonwealth Edison. 78% 76% 77% Continental Chicago .. ~ ... 1% Continental Chicago, pfd ... 17% Cord Corp 6% 6% 6% Great Lakes Aircraft .. % % % Grisby-Grunow 1% 1 1 Marshall Field 4% 4% 4% Middle West Utilities % Nobbitt-Sparks Ind, Inc .. ... 15% Quaker Oats ... 82 Swift & Cos 8% 8 8% Swift International .... 15 14% 14% U S Gypsum Cos ... 21% Utility At Ind, pfd .... 3% 3% 3% Walgreen Cos., Com 13% Chicago Fruit By United Press CHICAGO, Jan. 27.—Apples—Michigan Jonathans bushel, $1.15471.25; Spies bushel, $1.1547 1.35; Mclntosh bushel, $1.15®1.25; Greenings bushel, 85c4/sl. Marriage Licenses Arthur Thomas Leist. 31, Chicago, artist, and Alice Marine Logan, 26. of 6119 Broadway. Charles A. Lampel. 29. of 3847 Central avenue, electrical engineer, and Eleanor Wild. 21. of 2455 North Alabama street, dancing instructor. FISH COOKED IN PAPER Pompano, Favorite Creole Food, Is Prepared in Odd Way. By Times Special NEW ORLEANS. Jan. 27.—More than 300 pounds of a good grade of twenty-pound paper are consumed annually in New Orleans in the elaborate process of cooking “pompano and papilotte,” one of the Creole fish dishes for which New In this fish, the pompano is encased in paper when it is cooked and served. Orleans is famed. New Zealander to Speak Members of the Scientech club wili hear Frank Knyvett, a native of New Zealand, talk on “Experiences on the Northwestern Indian Frontier” Monday noon in the Columbia club. The talk will center about the country between India and Russia.

Mr. Fixit Write vour troubles to Mr, Fixit, He is The Times representative at the city hall and will be glad to present your case to the proper city officials. Write him in care of The Times signing your full name and address. Name will not be published.

Mr. Fixit—There is a hole in the pavement in front of 1210 Nortn Gladstone avenue. The information was turned over to Wilbur Winship. street commissioner, and he ordered the necessary repairs. Mr. Fixit—A leak in a transformer has been troubling a number of residents of the neighborhood of Merrill and East streets. Your romplaint has been referred to the electrical division of the Indianapolis Power and Light Company. The transformer will be repaired immediately. Mr. Fixit—A bad hole in the crossing of the Belt railroad on Martindale avenue is endangering the lives of every one who crosses it. The information was turned over to the works board and Bert C. Bvers, terminal manager of the Indianapolis Union Railwav. has been directed to repair the crossing.

PORKERS SHOW GOOD GAINS IN STRONGTRADE Cattle Market a Cleanup Affair With No Steers on Hand. Weights above 160 pounds were mostly 10 cents higher this morning at the city yards, 160 pounds down holding steady. The bulk, 160 to 210 pounds, sold for $3.50 to $3.55, top price $3.55. Weights of 210 to 250 pounds brought $3.35 to $3.50; 250 to 300 pounds, $3.25 to $3.35. Heavier weights sold for $3.15 to $3.25. Weights of 140 to 160 pounds were unchanged, selling mostly at $3.40. Pigs brought $3 to $3.25. Packing sows made the market at $2.35 to $2.60, smooth lightweights selling for $2.75. Swine receipts were 5.000. Holdovers were 173. A cleanup trade was in progress in the cattle market with the tendency lower, especially on heavy cows. Practically no steers on hand. A few light butcher heifers sold for $3.75 to $4.50, odd head of fed heifers sold up to $5.50. Beef cows brought mostly $2 to $2.50. Low cutter and cutter cows sold for $1.50 to $2. Receipts were 400. Vealers were steady at $7 down. Calf receipts numbered 400. Sheep were steady with prices slightly weaker on native lambs. Sorted kinds sold mostly for $6, a few heavy weights going at $5.75 down. Throwouts were salable at $4 down. No fed westerns were sold early, holders apparently waiting for a range around $6.25. Fat ewes brought $1.25 to $2. Receipts were 800. Light receipts and a weak demand in the hog market at Chicago sent prices around 5 to 10 cents higher than Thursday's average. The bulk of good to choice weights scaling 170 to 200 pounds was bid in at $3.50 to $3.55. Other classes were inactive. Receipts were estimated at 19,000, including 7,000 direct; holdovers, 2.000. Cattle receipts numbered 1,000; calves, 500; market steady. Sheep receipts were 13,000; market unchanged. HOGS Jan. Bulk Top Receiots 21. $3.3547 3.59 $3.50 3,090 23. 3.4547! 3.60 3.60 3,000 24 3.35® 3.50 3.50 7.000 25. 3.3540 3.45 3.45 6.000 26. 3.354/j 3.45 3.45 5.000 27. 3.50® 3.35 3.55 5,000 Market, Higher. —Light Lights—-(l4o-160) Good and choice....* 3.35@ 3.40 —Light Weights—--1160-1801 Good and choice.... 3,4547! 3.55 (180-2001 Good and choice. .. 3.454/ 3.55 —Medium Weights—-(2oo-2201 Good and choice.... 3.4047! 3.55 (220-2501 Good and choice.... 3.30@ 3.45 —Heavy Weights—-(2so-2901 Good and choice.... 3.2547 3.35 (290-3501 Good and choice.... 3.15@ 3.25 —Packing Sows—(3so down) Good 2.5047} 2.75 (350 upi Good 2.254/1 2.65 (All weightsi Medium 2.104/} 2.35 —Slaughter Pigs—-(loo-130) Good and choice.... 3.00@ 3.25 CATTLE Receipts, 400; market, steady. —Steers—-(sso-1.100) Good and choice $ 4.75(® 6.75 Common and medium 3.25®j 5.00 (1.100-1,5001-Good and choice 4.25® 6.60 Medium 3.50@ 4.50 —Heifers—-(sso-750) Good and choice $ 4.754J6.50 Common and medium ...... 3.25® 4.75 (750-9001 Good and choice 4.25® 6.25 Common and medium 3.00® 4.25 —Cows— Good 2.50® 3.25 Common and medium 2.004/ 2.50 Low cutter and cutters 1.50@ 2.00 —Bulls (yearlings excluded) Good (beef l 2.75® 3.25 Cutter, common and medium.. .75® 2.75 VEALERS Receipts. 400; market, steady. Good and choice $ 6.50® 7.00 Medium 4.50® 6.50 Cull and common 3.50® 4.50 —Calves—-(2so-300) — Good and choice 4.00® 5.50 Common and medium 2.50® 4.00 —Feeder and Stocker Cattle — (500-800) Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 (800-1,050) Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts, 800; market, lower. —Lambs—(9o lbs. downi Good and choice.ss.7s® 6.25 (90-110 lbs.i Good and choice.. 5.504/ 6.15 (90 lbs. down) Common & med. 3.00® 5.75 —Ewes— Good and choice 1.25® 2.25 Common and medium 75® 2.25

Other Livestock BY UNITED PRESS EAST BUFFALO, Jan. 27.—Hogs: on sale, 2.400: weights below 225 lbs, active, generally 10c and occasionally 15c over Thursday's average: heavier weights about steady; desirable 170-210 lbs, $3.80 to mostly S3 85; few decks, $3.90; 220-240 lbs, 53.60® 3.75; 250-285 lbs, $3.35® 3.50: pigs and underweights, slow, quoter $3.25®3.50. Cattle—receipts, 150; steer trade at standstill, outlet very narrow; few common steers, $4; cows and bulls, 25c or more lower; fat. cows. $3 down: cutter grades, $1,254/2; medium bulls. $2.75®3. Calves—receipts, 450; vealers active, steady to 50c higher; good to choice, $7.50®8; sparingly. $8.50; common and medium. ss® 6.50. Sheep—receipts, 140; lambs, active, steady at week's uneven 25®50c decline: good to choice native and fed western lambs, $6.254/6.50: top. $6.60; medium kinds of weights around 100 lbs, $5.75®6. LAFAYETTE, Jan. 27.—Hogs—10c up; 160-200 lbs, $3.40: 200-210 lbs, $3.35: 210225 lbs . 53.30; 225-235 lbs, $3.25; 235-250 lbs, 53.20; 250-275 lbs, $3.15: 275-300 lbs, 53.05: 300-325 lbs, $2.95: 140-160 lbs, $3.10; 120-140 lbs, 52.90; 100-120 lbs, $2.75; roughs. $2.50 down; calves steady; top, $6; lambs steady; top $5. EAST ST. LOUIS. Jan. 27.—Hogs—Receipts, 6,000: market, uneven, 5® 15c higher; top. 53.55; bulk. 150-210 !bs, $3.35® 3.50: 220-250 lbs, $3.10® 3.30; 250-320 lbs, $2.90;® 3.10: 100-140 lbs, $2.50®3.10; sows. $2.25® 2.50. Cattle—Receipts, 600: calves, receipts. 500; market, slow on all classes with hardly enough on sale to make a market; vealers. 25c lower at $6.50: other classes about steady with butcher yearlings and heifers at the week's low point. Sheep—Receipts, 500; market, no early action; indications steady with Friday's close or $5,254/5.50 for lambs. TOLEDO. Jan. 27.—Hogs—Receipts. 210; market. 10c higher; heavy Yorkers. $3.40® 3.50: mixed and bulk of sales. $3.40® 3.50: pigs and Igihts. $3.10® 3.25: medium and heavies. $2.80® 3.25: roughs. $2.25® 2.40. Cattle—Receiots. 175: market, slow. Calves Receipts, light: market, steady. Sheep and lambs—Receiots. light: market, slow. CLEVELAND. Jan. 27.—Hogs—Receipts. 1.100; holdover 192; slow; early sales and asking prices steady. Scattered 180-250 lbs, sorts $3 65; pigs. $3.25; asking around same price for 260-300 lbs, kinds. Cattle —Receipts, 75: little done, asking steady. Odd head cutter to common heifers. 52.75® 3.50; individual cows around 52.25. Calves—Receipts 150; active, strong to 50c higher. Toppy vealers scarce. Few $8.00: others 57.50 down, rather mixed around $7.004/7.25; few and only light cull vealers and low grade calves under $5.50. Sheep—Receipts. 700; slow; fat iambs. 15®25c lower, most wool skins not particularly attractive $6.00; few choice, $6.25: only outstanding clipped iambs above 56.00: w 00l throw outs steady, $5.00® 5.50. PITTSBURGH. Jan. 27—Hogs—Receipts, 1.500. market slow around 10c higher. 160-200 lbs, $3.75® 3.90: 210-240 lbs, S3 40 3.70; 250-290 lbs, $3,254/ 3.35: packing sows. 52.25'</2.75. Cattle—Receipts. 15: market unchanged. Good steers yearlings quoted $4.75**5.75; better grade hefters. $3.75'u4.75; medium bulls $2,754/3.25. Calves—Receipts. 75, market steadv to easy. Better grade vealers $6,754/ 7.50. Sheep—Receipts. 500. market steady. Better grade lambs 56.00®6.35; common to medium $3.50® 5.35. By Times Special LOUISVILLE, Jan. 27.—Cattle—Receipts, 100: mostly steady; bulk common and medium steers and heifers. $3 254/4 50; best lightweights eligible around $5 50: beef cows ana bulls, mostly $3 down: low cotters and cutters, sl4/2: bulk stockers and feeders. $.34/4; calves, receipts. 175: steady: bulk good and choice \ealers. $54/ 6: medium and lower grades. S4 down. Hogs—Receipts. 800: steadv; 175-240 lbs . S3 60: 245-295 lbs . $3.35; 300 lbs up. $2.95 135-170 lbs . $3 35: 130 lbs down. $2 70 : sows, $2 65, and stags. $1.70. Sheep—Receipts. 25: market quotable steadv; bulk good lambs. $5.75 to mostly $6: choice fed handy weiahts eligible. $6.25: medium and lower grades. *5.25 down: fat ewes. *l4/2. Thursday's shipments—3o cattle. 160 calves und 193 hogs.

THE INDIANAPOLIS TIMES

1 New York Stocks ( By Thomson At McKinnon! —Jan. 27 Railroads— Prev. H;gh. Low, 11 00. close. Atchison 43 43% .42% 43% Atl Coast Line.. .. ... ... 21 Bait At Ohio ... 9% 9\ 9% 9% Chesa At Ohio.. 28% 28% 28% 28% Chesa Corp 16% 16% Can Pac 11% 10 1 2 10% 12% Chi N West 4*. 4 -‘ C R I At P 4., Del LAt W 25 24% 24% 25 Del Ac Hudson. 46% 48 46 46% Erie 51 2 Erie Ist pfd ... ... fcij Great Northern 9% 9% 9% y% Illinois Central 13% 13% Lou At Nash 25 M K At T 7V* 7% Mo Pacific ... 3 3 \ Mo Pacific pfd. 5 a N Y Central ... 19% 18% 19 19 Nickel Plate . . 2% 2% NY NH A- H 15% 15% Nor Pacific 14% 14% 14% 14% Norfolk Ac West 123 * O W 10% 10% 10% 10% Pennsylvania. .. 18% 18% 18- 18% Reading 28 % Seaboard Air L % ... So Pacific 17% 17% 17 s * 17% Southern Rv 5% 5% St Paul 2 St Paul pfd 2% St L & S F.... 1% 1 1 Union Pacific ... 75 74% 74% 75% W Maryland 5% Equipments— Am Car At Fdv 7 Am -Locomotive. 6% ... Am Steel Fd 6% ... Am Ai rßrake Sh 11 11 Gen Am Tank 18 % 18% General Elec 15% 15% Gen Rv Signal 17% ... N Y Air Brake .. ... ... 8% Poor Ac Cos 2% Pullman 22% 22 22 22% Westingh Elec.. 29% 28% 29 29% Rubbers— Firestone 13 Goodrich 5 % Goodyear 16% Lee Rubber ... s’a U S Rubber 4% 4% Motors— Auburn 46% 46% 46% 46% Chrysler 14 13% 13% 14 General Motors.. 13% 13% 13% 13% Graham-Paige .... ... 1% 1% Hudson 4% 4% Hupp ... 2% Mack 18% 18% 18% ... Marmon .. ... 1% Nash 14% 14% 14% 14% Packard 2% 2-a Studebaker 3% 3% Yellow Truck ... 3% 3% Motor Access— Bendix Avation.. 10 9 7 10 10 Born Warner... 8 7 * 8 S B’* 8 Briggs 4% 4 1 8 4% 4% Eaton 3 2 El Auto Lite 19 18 El Storage B 24% Motor Wheel ... ••• 3 Murray Body 3 * •••, Stewart Warner 3 % 3 4 Timkin Roll ... L lb Mining— .... Am Smelt 13 2 Am Zinc 3 L Anaconda Cop • ■ • ‘. s Alaska Jun 13 4 1 S 1 ? Cai Ac Hccla 3 4 Cerro de Pasco 7 ' B 3 Dome Mines ... .. ••• ••• 43 , 8 Freeport Texas 23% 22% 22 a 27 a Isl Crk oCal. .. ... ... •••., 134 Kennecott Cop 9% 9% 9 4 9 K Magma Cop ' 3 4 Nev Cons * ? Noranda 33 * 33 8 Texas Gul Sul.. 24 22% 23 24,a U S Smelt 17 % ••• Amerada ■ Atl Refining ... 16V* 16% 1 6 % 13 , s Barnsdall f- ‘ Indian Refining Sbd Oil 17 2 13 4 Phillips 5% 5% 5-4 5 t Cons Oil 5% 5% 5 4 5 4 Skellv ... ... 3 4 •Standard of Cal ... ... 24% 24% Standard of N J 30% 30% 30_a 30 2 Soc Vac 7 6% 6a 0 8 Texas Cos 13% 13% Union Oil 11 Steels— Am Roll Mills ... 9 Bethlehem ••• 43 Byers AM ... 13% Colo Fuel 64 .• • . Ludlum Svfc McKeesport Tin. 50% aO% oOVa 51% Newton , 3 Repub I&S 6% 6% U S Steel 28% 28% 28% 28% Vanadium ... ••• 12% Youngst SAt T.. .. ... 10% 10 % Tobaccos— Am Sumatra .... ... ... 7 % Am Tob (Al new 59% 58% 58% 60 Am Tob (Bi new 61% 60% 60% 62% Lig 5 a Myers B. 61 59% 59% 61% Lorillard 12% 12% 12% ... Reynolds Tob .. 32% 31% 31% 32 1 United Cig V* Utilities— Adams Exp 4% Am For Pwr 6% 6% Am Pwr At Li 7% 7% ATT 105 Vi 105 105 105% Col Gas & E 1... 16 15% 15% 15% Com & Sou ... 2% 2% Cons Gas 58% 58% 58% 58% El Pwr At Li 6% 6% Gen Gas A ... 1% 1% Inti T Ac T 7Vi 7 7% 7% Lou Gas Ac El ... 18% ... Natl Pwr At Li 13% 13% No Amer Cos ... 27% 28 1 t Pac Gas At El.. .. ... 30% 29% Pub Ser N J .. 53% 53% 53% 53% So Cal Edison 26% Std G At El ... 12% United Corp ... 9 8’ a 8% 9 Un Gas Imp ... 19% 19% Ut, Pwr At L A 3% 3% West Union ... 27% 26% 26% 27',2 Shipping— Am Inti Corp ... 7 % N Y Ship ... 2% United Fruit .. 29 % 28% 28% 29 >1 Foods— Am Sug 27Vi 26% 2< 1 4 26% Armour A ... 1% 1% Beechnut Pkg 50 •••,. Cal Pkg 9 % Can Dry 9 % Coca Cola . • • 61 Corn Prod 55Vt 55 55 55% Crm Wheat ... 28% 28% Cudahy Pkg 21% ... Cuban Am Sug .. .. •••, 4 % Gen Foods 24% 24% 24% 24% Hershe.v • 43 53 ,c Jewel Tea 27% 27 27% ... Kroger . J7-.-* 17 2 Nat, Biscuit .... 37 38% 38% 39 Nati Dairy .... 14% 14% 14% 15 Std Brands .... 14% 14% 14% 14% Drugs— Coty Inc ... 4 4 Drug Inc 35% 35% 35% 36 Lambert Cos 30% 30% | Lchn At Fink 18 18% i Industrials—!Am Radiator .... 6% 6% 6% 6% I Bush Term 3 % Certainteed ... ... 1 Lehigh Port ... ... 5% Otis Elev 12 11% 11% 12 Indus Chcms — Air Red 60 % 60 60 Vi 61 Allied Chem .... 86% 85% 85% 86% Com Solv 11% 11% 11% 11% Dupont 39% 39% 39% 39% Union Carb 27% 26% 26% 27% U S Ind Alco .. 22% 21 21% 22 Retail Stores— Assoc Dry Gds 4% Gimbel Bros 1% Kresge S S 9% 8% 8% 9 Mav D Store 13% Mont Ward 14% 14% 14% 14% Penny J C ... 26% 27% Sears Roe ... 20% 20 20 20 Woolworth 32% 32% 32% 32% Amusements— Eastman Kod .... ... ... 54% Fox Film A ... 1% ... Grigsby Gru ... 1 Loews Inc 16% 15% 16 15% Param Fam ... 1% 1 1 1% Radio Corp ... 4% 4% R K O 1 % 1% Warner Bros 1% 1% Miscellaneous— City Ice & Fu6 11% Congoleum ... ... 7% Proc At Gam... 25% 25% 25V4 25% Allis Chal 7% Am Can 60% 60% 60% 60% J I Case 46% 45% 46'% 46% Cont Can 41 Curtiss Wr .... 2% 2 2% 2 Gillette SR ... 17% 17% 17% 17% Gold Dust ... ... 17% Int Harv 22% 22% 22% 22% Int Bus M 93% Real Silk 9 Un Arcft 26% 26% 26% 26% Trans-America 5 5 New York Curb (By Thomson At McKinnon) —Jan. 27 11:00.! 11:00. Am Lt. At Trac. 19% Int Pete 10% Am Super Pwr. 4% Nat Aviation ... 7% Asso Gas At El. 2 Penroad 1% Braz Pwr A: Lt. 7%:Std of Ind 20% Cities Service.. 2% Stutz 16% Cord 6% ! Trans Air Trans 5% El Bnd At Sh.. 18% Un Gas 'newi.. 1% 1 Gen Aviation.. 4% Un Lt At Pr IAI 4% I Ford of Can... 6% Un Verde 1% | Ford of Eng... 3% Ut Pwr 1% I Imp Oil of Can 7% New York Bank Stocks (Bv Thomson At McKinnon) —J an. 26 Bid. Ask Bankers 72% 74% j Brooklyn Trust 118 193 Central Hanover 150 154 Chase National 35% 37% Chemical 41% 43% City National 45 47 Corn Exchange 73 76 Commercial 152 162 Continental 17% 19% Empire 25% 27% First National 1.510 1,560 ; Guaranty 352 357 Irving 23% 25% Manufacturers 31% 33% New York Trust 101 104 Public 29% 31% Liberty Bonds By United P> < ss NEW YORK. Jan. 26—Closing Liberty bonds: Libertv 3%s ’47 103.12 Liberty Ist 4%s 47 , 102.22 Libertv 4th 4%s 38 103.20 Treasury 4%s '52 110.23 Treasury 4s '54 106.23 Treasury 3%s '56 .05 8 i Treasury- 3%s '47 102.19 Treasury 3%s 43 March 102.13 .Treasury 3%s '43 June 102.23 (Treasury 3%s 49 99.30 Tieasury 3£ 55 M

GRAINS DIP ON WEAKER TONE IN SECURITIES Little in News to Affect Prices Either Way; Corn Dull. BY HAROLD E. RAINVILLE United Press Staff Correspondent CHICAGO, Jan. 27. Wheat opened easy, unchanged to % cent lower on the Board of Trade today. Scattered selling on the easiness in stocks and lower cables more than offset the slight support in evidence at the start. There was little in the news and the restricted trading made small orders either way effective in moving prices. Corn was dull and unchanged. Oats was unchanged to cent higher with trading confined to May. Provisions were steady and active. The domestic supplies of wheat are disappearing more rapidly than expected with no clear explanation other than that wastage and farm feeding have been larger than looked for. The visible supply now is 50,000,000 bushels or so under a year ago despite the fact that there has been no export business. Liverpool was lower than due, 3 i to % cent lower at mid-afternoon. American corn still is underselling all other varieties but Europe shows a preference for Argentine and Danubian stocks. Trade in oats is limited with sales absorbed by cash interests and commission houses. Chicago Primary Receipts —Jan. 26 Wheat 521.000 Com 348.000 Oats 208,000 Chicago Futures Range —Jan. 27 WHEAT— Prev. High. Low. 10:00 close. Mav 47% .47% .47% 48 Julv 48 .47% .47% .48*% September .. .48% .48% .48% .48% CORN— Mav 26% .26% .26% .26% Julv 28% .28 .28 .28% September 29% .29 % OATS— Mav 17% .17% RYE— Mav 34% .34% Julv 34% .34% CHICAGO CASH GRAIN By United Press CHICAGO. Jan. 26.—Cash grain close: Wheat—No. 2 mixed. 48%c. Corn—No. 2 mixed. 25c; No. 4 mixed. 23% ®23%c; No. 2 yellow. 25%c: No. 2 yellow, old. 26c: No. 3 veilow. 23%®24%c: No. 4 veilow. 23 (a 23%c: No. 2 white. 25%c; No. 2 white, old 25%c: No. 3 white. 24c. Oats—No. 2 white. 17c: No. 3 white. 16%c. Rye—No. sales. Bariev —24 , i/36c. Timothy—s2.2s® 2.50. 10ver—56.50®8.75. Cash provisions —Lard. $3.87; loose. $3.30; leaf, $3.25. By Times Special CHICAGO. Jan. 27.—Carlots; Wheat. 2; corn, 76; oats, 14; rye, 0, and barley, 7. TOLEDO CASH GRAIN By Unite t Press TOLEDO. Jan. 26.—Cash grain close: Grain in elevators, transit billing: Wheat —No. 2 red, 53®54c: No. 1 red. lc premium. Corn—No. 2 veilow. 29@30c. Oats —No. 2 white. 20G21c. Rve—No. 2, 43@44c. Bariev —No. 2. 30®31c. Track prices. 28%c rate. Wheat—No. 2 red. 48%®49%c; No. 1 red. 49%@50c. Corn —No. 2 veilow. 24% rn 26c: No. 3 yellow. 23%®24%c: No. 4 yellow, 22%@23c: No. 5 veilow, 30%@31%c. Oats —No. 2 white. IV/sHilSc: No. 3 white. 17®17%c. Seed close—Clover—Cash. $5.40. Alsike—Cash. $5.80. Produce—Butter— Fancy creamerv. 22c. Eggs—Extras. 12@ 13c. Hav— Timothy, per cwt.. 80c.

Jigsaw Crossword, No. 17

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PUZZLE NO. IT HORIZONTAL 2—Roads (abbr.). s—Angry. 7 Near. 8 — Definite article. 10— Also. 11— To move swiftly, smoothly. 12— Preoosition. 14— Preposition. 15— Bov's name. 17—Affects with pain. 19—Over and in contact with. 21— Loose garment reaching to the feet. 22 Negative. 24—Furnaces for burning brick or lime. 26—Moist. 28 — Expression of dismay. 29 Os or pertaining to us. 31— Land measure. 32 Kitchen utensils. 33 Worth. 35 Ohum. 36 Ennui. , 38—B”ight vellow bird marked with black. 41— The last. 42 Anything used to curdle milk. 43 Credit iabbr.l. VERTICAL I—Troubles, trials. THE RULES 1. The Times presents as a daily contest feature, for thirty publishing days, the Jig-saw-Crossword Puzzle Contest of original jigsaw design, together with the definitions of the words to be written in. The series will consist of thirty jigsawcrossword puzzles. 2. The objects of the contest are: First—To solve correctly each of the thirty individual puzzles. After each puzzle is solved, it should be cut out along the outside of its heavy black border and saved until the last puzzle has been published. Second—After all of the thirty puzzles have been published and solved they must be fitted together to form a large outline map of the United States. Third—ls puzzles have been properly fitted together to form a large outline map. it will be discovered that by reading across the map in certain sections you will find excerpts from three famous American documents: The Declaration of Independence, Lincoln's fiirst inaugural address and Lincoln’s Gettysburg address. Indicate with an arrow at the left side of the said map the lines containing any portion of these excerpts. Send t£e completed map to

- THIS CURIOUS WORLD -

DOMINATES j J THE WORLD, l //l L%wLj> ' THE WHITE PACE \|ijr IS SECOND, FOLLOWED Y|f V) Jr JAJ IN ORDER BY W THE BLACK, THE / /] BROWN, AND I r iBMi • mca joanct n*COMES FROfiA THE MALE MUSK- l l DE-ER, IS SO STRONG THAT V. ITS ODOR CAN BE DETECTED UB 7 [| JMJIU/ £VEN WHEN DILUTED IfaIINIGV £ZG//r//l/£l/Q/V 7M£S:' "a* IT IS USED IN THE MANUFACTURE OF EXPENSIVE V aaoi r PERFUMES: „

INDIANAPOLIS STOCKS AND BONDS

(Bv Newton Todd) The following quotations do not represent firm bids and offerings, but indicate the approximate markets based on recent transactions or inquiries, to buy and sell. —Jan. 27 Stocks Bid. Ask. Belt R R and Stkyds com 22 26 Belt R R and Stkyds pfd 44 50 Cent Ind Pwr 7% pfd 10 15 Citizens Gas com 15 17 Citizens Gas 5% pfd 67 76 Indpls Pwr & Lt 6% pfd. ... 61 66 Indpls Pwr Ai Lt 6%% pfd... 66 72 Indpls Gas com 43 48 Indpls Water 5% pfd 93 99 Indpls Pub Welfare Ln Assn.. 46 51 Nor Ind Pub Serv 7% p1d.... 56 60 Pub Servos Ind 6% pfd 30 35 Pub Servos Ind 7% pfd. .. 40 45 So Ind Gas and Elec 6pfd.. 60 65 Terre Haute Elec 5% pfd 47 52 Bonds Belt R R and Stkyds 4s 83 88 Citizens Gas 5s 1942 88% 92 Indpls Gas 5s 1952 81 83% Indpls Ry 5s 1967 22 28 Indpls Water 4%s 1940 99 101 Indpls Water 5%s 1953-54 101 103 Trac Terminal Corp 5s 1957... 38 43 Joint Stock Land Banks Fletcher 5s 62 66 Ft. Wayne 5s 40 45 Lafayette 5s 35 39 Phoenix (K. C.) 5s ’....60 65 NEW YORK COFFEE —Jan. 26 RIO High. Low. Close. March .. 5.95 5.84 5.85 Mav .... 5.57 July 5.26 5.21 5.23 September .... 5.03 December ..•••• 5.00 4.93 4.93 SANTOS March 8.31 8.29 8.31 May 7.86 7.80 7.86 July 7.51 7.49 7.51 September ' 7.22 7.19 7.22 December 7.11 7.05 7.09

3 Without, moisture. 4 South America (abbr.). 6—Short jacket. 9—Used by teamsters for “stop.'’ 10—Melody. 13 —Sounds. <as a bell, with strokes repeated at uniform intervals. 16— Spanish gentleman. 17— A collection of maps in a volume. 18— Southeast iabbr.l. 20— The present. 21— Fine earth suspended in water. 23 — Fragrant beverage made from certain dried leaves. 24 Pure white clay used to form the paste of porcelain. 25 Enticement. 27--Attempt. 29 Poetic for ever. 30— To be borne in or on a vehicle. 32 One who pares. 33 Money order (abbr.l. 34 lbs. 4 . .... 35 covered entrance to a building projecting . from the main wall with a separate roof. 36 Wager. 37 Doctor of medicine (abbr ). 39 over and in contact with. 40— Lake Erie (abbr.). The Times Crossword Contest Editor, Indianapolis, within fifteen days after the publication of puzzle No. 30, the last of the series. Be sure your name and address appear plainly upon both envelope and map. 4. The Times agrees to pay the following awards to winners of this contest: First, SSO; second, $25; third, $10; fourth, $5; fifth, $5; sixth, $5, and twenty-five prizes of $1 each. 5. Awarding of prizes will be on the basis of accuracy, legibility, and neatness of presentation. 6. Awards will be made as soon as judging can be completed following close of contest, and names and addresses of winners will be published in The Times. 7. The Times will appoint the judges. Contestant, in submitting entry, does so with the agreement to abide by the decision of the judges as final. 8. The Times can not undertake to return entries, nor enter into correspondence about them. Nor can The Times permit any one to change an entry after it has been submitted. 9. The contest Is open to every Times reader anywhere, except employes of this newspaper and members of their t w

The musk deer differs from most others of the deer tribe in that it has no antlers. But Mother Nature has given this little animal a pair of sharp tusks, which make efficient weapons. Musk is found only in the male, in a gland contained in the skin of the stomach. The musk deer lives in the high altitude forests of the Himilaya, Tibet, Siberia and. western China. Next—ls more commerce transacted on the Atlantic than the racific?

The City in Brief

Officer’s Club of Indianapolis Lodge No. 297, Ladies Auxiliary, will give a euchre and bunco party Saturday at 8 at the home of Mrs. Minnie O'Brien, 320 Trowbridge street. Mrs. Goldie Sailor is chairman. Drill corps of Raper Commandery No. 1, Knights Templar, will hold its first party of 1933 in the Masonic temple Saturday night. Committee in charge is composed of Guy L. Roberts, chairman; Arthur J. Callahan, Carl Schmidt and Arno G. Siefker. Midwinter meeting of <he Indianapolis section of the American Society of Mechanical Engineers will be held Feb. 2 at the Athenaeum. Address on “The Future in Steam” by R. L. Fitzgerald and 3 report on the annual national meeting of the society will feature the program. Membership drive of the Christian Fellowship Builders class at the Fountain Square Christian church will end Sunday, Roy S. Krumrine, class vice-president, announces. Teams directed by Paul Bennett and E. J, Johnson are leading. Approximately 175 men attended last Sunday's class. Ways and Means committee of Indianapolis circle No. 8, U. A. O. D„ will hold a card party at 8 Saturday in the home of Louis Disbrow, 1226 North Grant avenue. Produce Markets Delivered in Indianapolis prices; Hens, heavy breeds over 4% lbs, 11c; Leghorns. 6c. Colored Springers. 1% lbs. up. 8c; Leghorn and black. 1% lbs. up, 6c; stags. 6c; Leghorn stags. sc: cox. sc; Leghorn cox, 4c Ducks, large white full feathered and fat. over 4 lbs, 6c: small and colored, sc. Geese full feathered and fat. 6c. Young Guineas. 20c; old guineas. 15c. Eggs, approved buying grades American Poultry Institute. Fresh eggs. No. 1. lie: No. 2, 16c: No. 3.12 c: No. 1 current receipts. 12c. Pullet eggs. 7c. Each full egg case must weigh 55 lbs. gross. A deduction of 10c ner lb. will be made for each lb. under 55 lbs. gross. These prices for healthy stock free from feed. No sick poultry accepted. Quoted by the Wadlev Company. BY UNITED PRESS CHICAGO, Jan. 27.—Market, steadv: receipts. 8.280 cases: extra firsts. 13'.t® 14c; firsts. 13®13%c: current receipts. 12%c: dirties, lie. Butter—Market, unsettled; receipts. 10.719 tubs: specials. 17% 4/17*40: txars. 16%c: extra firsts, 16%c; firsts. 15% 4/16c: seconds. 15%c: standards. 16%c. Poultry—Market, mostlv steadv; receipts. 21 trucks: fowls, 12%4/13c: springers. 12% ® 13%c: Leghorns, lie; ducks, 10c; geese. 8c: turkevs. 10® 14c: roosters. 9c: Leghorn broilers. 9%c: stags. 10c. CheeseTwins, 9%®10c; Longhorns. 10%®10%c. Potatoes—On track. 219: arrivals. 81: shipments. 613: market dull: Wisconsin Round Whites. 67%4/72%c: Idaho Russets, $1,104/ 1.15; Colorado McClures, $1.22%. Other Livestock BY UNITED PRESS FT. WAYNE. Jan. 27.—Hog market 10c higher: 100-140 lbs, $3.20; 140-200 lbs, 53.50; 200-225 lbs, $3.40: 225-250 lbs, $3.30; 250-300 lbs, $3.25: 300-350 lbs, $3.15; roughs. $2.25® 2.50; stags. $1.50: calves, $7.00; ewe and wether lambs. $6.25: bucks, $5.25. Cattle market—Steers, good to choice. $54/5.50; medium to good. $4,504/ 5; common to medium. s3® 4. Heifers—good to choice, $4.50® 5; medium to good, $44/5; common to medium, $34/4. Cows—good to choice. s3® 3.50: medium *lo good $3®3.50: cutter cows, $1,754/2.25; canncr cows, 51451.50. Bulls—good to choice, $34/ 3.25: medium to good. $2.50®3: common to medium, s2® 2.50; butcher bulls, $3.25® 3.75.

AUTO FINANCE $ c , t . c . AT 6% tor Savings Come direct to os before yon buy FLETCHER AMERICAN If you want to save on the finance '""‘GREGORY * APPEL NATIONAL BANK and I Indp Is Power & Newton SpII I Preferred Todd * US Lemcke Building

Thomson & M Kinnon Brokers INDIANAPOLIS CHICAGO NEW YORK MEMBERS New York Stock Exchange Chicago Board of Trade New York Cotton Exchange Chicago Stock Exchange New York Curb Exchange 200-214 Circle Tower Lincoln 5501

-JAN. 27, 1933

DOUBT U. S. IS SELLING JAPAN WAR SUPPLIES Increasing Nitrate Shipments No Indication, Say High Officials. BY RAYMOND CLAPPER United Pres* St,iff Correspondent (Copyright. 1933. by United Press) WASHINGTON. Jan. 27. increasing shipments of nitrates to Japan have caused some speculation as to the possibility that extensive war preparations are going on. but best informed officials here cast doubt on such conclusions. In their opinion, if preparations are being made, sources outside of the United States are being depended on chiefly. Discussion of possible Japanese war purchases in the United States grews out of increases in exports of nitrates and cotton, both usable in manufacture of high explosives. Buy Nitrate In l - . S. In 1931. Japan bought 2,000 tons of nitrates in the United States. In 1932 the plant at Hopewell, Va., the largest in the country and second largest in the world, sent to Japan 14,617 tons. Shipments rose from 750 tons in September to 1.955 tons in November and 3.000 tons in December. As against these increases, however, Japan's total imports of nitrate of soda from all countries dropped 9.455 tons for the first ten months of 1932 as against the same period of the preceding year, indicating the possibility of a shift of buying from other countries to the United States. Assertions in the French chamber of deputies recently that Japan was buying munitions in France were recalled in connection with sales of American nitrates to France. These were 23,480 tens in 1931. In nine months of 1932. the Hopewell (Va.) plant sold 83,408 tons to France. Cotton Purchases Grow Japan's cotton purchases from the United States have increased sharply. hi 1932 the United States exported 2,240,000 bales of cotton to Japan as against 1,744.000 bales the year bcfoie. Most of this was short staple cotton. But officials here say that this increase was due to the sharp decline in cotton prices. They say linters, a cheap form of cotton waste, as used for manufacture of gun cotton and other munitions. “To use staple cotton for gun cotton would be like buying porterhouse steak to make hamburger,’’ one official said. SENT TO WAR GAMES Two Indianapolis .Men Assigned to Pacific by Navy Chiefs. William M. Klse, 5145 Broadway, and Gerald T. Davis, 3321 Ruckle street, two of eleven Indiana men who enlisted in the navy during January, will take part in the war game which will be held Feb. 6 to 17 in the Pacific ocean. Both have completed the course at the Great Lakes training station. Klee recently was assigned to the United States steamship Nevada, now being overhauled in Puget sound. Davis was sent to United States steamship West Virginia, which is at San Pedro, Cal. J—o'—L ABBOTT, HOPPIN & COMPANY 203 Continental Bank Bldg. Indianapolis Stocks, Bonds, Grain MEMBERS: New York Stock Exchange New York Curb Exchange Chicago Stock Exchange Chicago Curb Exchange Chicago Board of Trade Co-Managers JAMES T. HAMILL KENNETH K. WOOLLING Formerly Members of JAMES T. HAMILL & COMPANY Riley 5493-5494 i ° r LOOK AHEAD Be Safe, Not Sorry Auto Insurance Ass’n. 7th Floor Occidental Bldg. |