Indianapolis Times, Volume 45, Number 41, Indianapolis, Marion County, 28 June 1933 — Page 13

JUNE 28, 1933

Wall Street Opinion Differs as to Effect on Market If France Suspends Gold Payments. BY RALPH HENDERSHOT

Timet Special Financial Writer Despite denials to the contrary, wall Street still holds that suspension of gold payments by France is a distinct possibility. It recalls that England did not broadcast the fact that it was going ofT the gold standard and that the United States was not especially noisy about its proposed action. Efforts to reach a basis upon which to stabilize currencies at the International Economic Conference apparently have failed, which places

the gold standard countries, especially France, in the position of carrying the flag. While the street does not have any positive views on Frances possible action, it is already wondering about the probable effect on security prices if she should jump into the pool with the others. And, strangely enough, it is unable to make up its mind about what might happen. Rumors of such action have brought about market reverses during the past week, but there are those who maintain such a step would be bullish. One argument presented is that if France did stub her toe capital would tend to flow in the direction of the United States. This, it is argued, would raise the value of the dollar in foreign exchange markets and bring about a recession here. This argument would seem to be a little far fetched, for it would not seem reasonable to expect money to flow here when the country obviously has adopted a policy of depreciating her currency. The funds might more naturally be expected to go into commodities and securities to take

Ralph Hendershot

advantage of the world-wide inflationary movement which could easily develop. In fact, a real race to deflate currencies has been mentioned in even the best of company. ana Car Loadings Turn Upward The trend of car loadings since the first of 1933 is interesting in contrast with that in the corresponding period of 1932. The latest figures for this year show an increase of about 30 per cent, compared with January figures, whereas in the same periods of last year there was a drop of about 9 per cent. The lines crossed several weeks ago, and this year’s totals are running about 60,000 cars a week ahead of 1932. a a a After Inflation, What? Reports from Washington and London make it fairly clear that the United States is not yet ready to stabilize its currency. Additional inflation is desired apparently to raise prices to the desired levels. Economists are beginning to ask what will happen to prices, if anything, when we stop using the inflation needle. Will prices remain stable or will they begin a reaction? It is recognized, of course, that much of the recent buying has been due to inflation and in anticipation of inflation. When that factor Is eliminated it is fair to assume that this particular type of buying will cease. It would seem important that a sufficient amount of consumer buying should be developed in the meantime to take up the slack when the time comes, and it is apparently with that in mind that the administration in Washington is attempting to stage a business recovery and put the unemployed back to work. The buying power of eight or ten million people would take up a great deal of this slack, but if stabilization should come too soon it might be rather harmful.

New York Stocks 1 (Bv Abbott. HoDbln & Cos.)

—June 28 Oil*— Prev. High. Low. 11 00 close. Amerada JO'"'* All Rig 30 29 3 * 30 29', Con ol Ol H’% }4\ }4 4 14* Cont of Del .... 16 1 18 18 l® 2 Houston i new ®'. J}., 2 Houston • oldi • ■*■’ * Indian Rfg la 4 Mid Cont Pet ... •• ••• 14 •;; Shill O union. ::: 9'* ”... ”.j) PhU-fp°s r Pet' I® 1 * 18^ i|t" J g 32 Pure Oil 9 8 3 , SU 4 Shd Otl ii i, Simms Pet ••• n,<* 9■ Soc'vac 011 ..'.... HS 14 I '* 14U IV, I 00/ n*j :::: w. Ik Ik Texas o corp 24', 24'ft 24;, 24 ;, ::: *> • Am‘Roil Mills.. 18>4 18', 1 3 ‘ W. Bei ll Si eel I 41%. 41 41 Byers AM- is l . Col Fuel A Iron .. 24', Cruc Steel . • •• 30 Gulf Sts Steel 42 Inland Steel .. • ‘{7,4 17* Ludlum Steel.. 1' * 11 84', McKeesport Tin. . •,,, 533. Natl Steel •" 773, is Reo Iron & Steel 44 Rep iron & Stl P M , 54Vi 54 :, U S Smelt M " n4/2 26’, Vanadium ••• 'l7l, 17’, U S Pipe A Ft'y - 9 , v - 581 , 59', SB’, U S Steel. “* 30 97 U S Steel pfd - ■■ 30 a, SO 3 , Youngstn S & T jo 2 * Rails — 66’ 2 67*, Atchiion -,3 '471, 47*4 47 Atl Coast Line . 47 4 4 2 2S 24 5 , bA o 2s' 2 ri* 3 17 3 4 17’. Can Pac 11 " 1( 4 42 42 ch & < cnw:::: c m & stp pfd 10;* g’s Chi N W. 9 , • 6 , 51, Chi R 151... •■ ■ 6 5 / B', Chi R I I‘r, 1 ‘ r , . . '7, 7g 78’2 Del a A Hud ... 28*2 ' ,0 75 Erie ,'■■■ 24'4 24*4 Grt Northern .... •• 32 32 111 Central 32 - u 4 18>, K C Sou. . 54*, Lou & Nash •" 14 i 4 14 3 , Mo Pac B’, 8 3 4 "°y cm? •. N Y Chi &StL •• ••• 23 4 23 ij N Y Chi & 8 L p . 24 N \ New Haven .. i 2 3. N Y Ont & Wes 7571, 758 Norfolk A Wes.. 24'* 25 i! u f*r:B*: 8* ■. g Sou R R Pfd its 3 , 119 1 , Union Pac n * 3 t 3U Wabash ... 77>, W Maryland .'Valois ss , s g(5 853, Auburn . 2?, 351, 36’ Chrysler 35-, 3a C.eii Motors ... 30*. 30, •",* Graham Mot... ■* l 4 4 j„ 773, Hudson gi gi a Hunp •••••, 423. 431, Nh ... 22 HU 2 J 22 Packard 6 5 * ' 5 * Studebaker 6 3 4 •* 6 ' 4 jjf'* Yellow 'iruc:; 02 Motor Access— . , . q Bohn lx Aium".::: 48 * 48-2 48’, 29 ' 2 &". ar v r -.-.: i\u -i\u ; K/rr h; i r : Elec Auto Lite 23 4 - Houd Hcrshev s 4 g t * Mullire Mfe a nd, • ’j. g, 2 Murray 80dy... 9*4 9 5 4 9 , Timken' RoTV.V. 30’, '3o’* 30’, 31 Al“'"J“mn 20'. MU 20’, JOJ. n? n IV % Cal As Hecla. .. - 7 * < ' • „', 2 Cerro de Pasco 26 , 26 .6 25 , Granbv 13-4 13 13 13 Ot Nor Ore * Homestake Min .. 321 *;L Howe Sound In? N°c 0 k?i r 1a 3 . isv, ig 3 . i ; : Kennecott C°oo:: 20 >, 20 V, 20 >! 20>! Noranda Cop ?S. Phelns Dodce ... 14 13’, 13 j t Pitts Coal •• ■ •• • 2 Tobaccos— ... Am SnufT J 5 * Am Sum Tob. . .. Am Tobacco A ... •■: a nd:, g’, Am Tobacco B 91 s * 91*2 91 a 91^, Ligg Myers B 94J* 94’! Lorillard 23’* 22’, 22 , 21’, Reynolds Tob B 45 45 Fouinmrnts — , , Allis Chalmers. 21’* 20'* 20. .1 • Am Car & Fdv . 29’* 28 s , 29|, -8. Am loco 35 V, 34'2 Am Mach A- Fdv 18’. IB;. 18 3 . 18 a Am Steel Fdv.. 21 ’a 20’. 21 2 Bald Loco ...... 12 }' 3 * }2 }*; Burroushs 18 Case J 1 94 92’a 93*4 9.- 4 Cater Tract 24*, 24 2 Coleat Palm Peet }9 2 Cor.golnim *-r„, Elec Stor Bat.. 47 46 s , 47 46' , Foster Wheeler l‘‘ Gen Am Tk Car ■ 38 s , SB'a Gen Elec ... 24** 24’* 2G. 24* Gen R R Sie 39 , 39 Inesol Rand ... 71 IOV4 70’* 70', Int Bus Mach . .. . 36 135 2 Int Harvester.. 41H 40'a *o' 41 * 3 Keivloetor ■ I' 1 * Natl Cash Reg 19 19 Proc & Gamble. •••. 44 Pullman 1nc.... 51 ’a 50’, 51 51’* Simmons Bed. ... ... 18 Und Elliot 31 West Air 181 30 29', 29 3 , 29 s , M’esting Elac. ... 47*, 46** 46*4 47 5 , Worthington P.. 34 33'a 33', 33', Utilities— Am Ar For Pwr 17 1 * 17 Am Power & Lit 14 13*4 A T * T 129 128*4 128’, 128'. Am Wit W'ks .. 39*. 39', 39*. 38' J Brook Un Gss 84'. 84 Col Gas Sc Elec 25'2 Col O Sc E ofd 80'2 Com & Sou. .. ... ... 4’s Consol Gas . 60 s . 59 s , 60 59'i Elec Pwr * Lit.. 13S 13’, 13'. 13'. E P Sc Lpfd 25', Int T 4 T.. 18 s , 18’. 18’. !B'a Lou G A E lA' 23 23 Nat Nwr ft Lit 18V* 18', 18>4 17’, North Amer... S3’, 33 S 33 S 32*, Pac O A E 1,... 29’, 3SW 29', 29, Pub Berv N J.... 54’, 53*. 54*. 54 go Cal Ediaon ... 25>, Std Gai 19‘ 19 Sid Oa* Pfd 21', 21*, United Corp IJ’ 12*. Un Oas Imp 22*, 23*. Ut Pwr ft Lit (A) . ... 7 7's Western Union.. 87‘. MU 87 Sit, WMitoW*"!..... 24*, 3'A> 2J!a 34

Wall Street

Goodrich . . igi/ 8 Goodyear 37% 37 V. ’37% 87% n I D U {? ber fJ 141/2 14V * 141/2 14 ' 2 U S Rub pfd 28% 28 V 4 Kel Spriru- 41/* Amusements— Crosley Radio ... lit,. Fox Film 3 Loews Inc 22?4 22% 22% 22% Radio Corp or. ax. RKO 3% 4 1 r Warner Bros ... .. ... 5% 51, Foods— Am Sugar 67% 66% 66% 6b'a Armour A 5V* 5% 5% 5% Beatrice Cream. 24% 23>/j 24% 23 Borden Prod 34% 34% 34% 34% Cal Packing ... 25% 25% Canada Dry GA 20 19% 19% 19% Coco Cola 95 Cont Bak A 15% 15% Corn Prod 78% 78% 78% 78% Crm of W'heat. . 35% 35 35 35% Gen Foods 38 37% 38 37% Gold Dust 23% 23Vs 23% 23% G W Sugar .. . 23% 29% 29% 29% Hershey 55^ lilt Salt 26 25 Loose Wiles 39% 39% Natl Biscuit ... 59 57% 59 57% Natx D Prod.,.. 22% 22% 22% 22 Pet Milk ... ... 12>,2 Purity Bak 22V* 22% A Porto Rico Su 35 34% 35 34 % Std Brands 24% 22% 24% 21% United Fruit ... 63% 61 % 63% ... Wrigley 497* ... Retail Stores— Ass Dry Goods.. 14% 14% 14' 2 14% Best &Cos 29% 29 % Uibmel Bros 7% 7% Gimbel pfd 31% Gr Un Tea 10 10 Hahn Dept Sts 5% 514 Jewel Tea 40% Krcske S S 15% 15% 15% 15% Kroger Groc 30% 30% Macv R H 60% Mav Dept St 17% Mcnt Ward 26% 25', 25% 26% Pennv J C 43% 43% Safewav St 55% 55% Sears Roebuck.. 37*4 36% 36% 37% Woolworth 46V, 46% Aviation— Aviation Corp... 12% 12% 12% 12% Douglass Air 16% 16 16 16V* Curtiss Wright ... ... 3% Curtiss Wright A 5% 5% Nor Am Av 7% 794 United Aircraft. 34 33% 34 33% Chemicals— Air Reduction.. 89% 89 89 89% Allied Chem ...118 116 116% 117% Am Com Alcohol 41% 40% 41% 38‘2 Col Carbon 65% 64% 65% 63% Com Solvents .. 26% 25% 26% 25% Dupont. 80 79% 79% 80% Freenort Tex.. . 37% Liauld Carb 41% 38Vi 4i% 38% Math Alkali... 33% 33% 33% 33% Tex Gulf Sulph. 32V* 31 % 33 31% Union Carbide . 41% 41% 41% 41% U S Indus Alcoh 64% 61 63% 60% Nat Distil 106% 100% 103% 102 Drue*— Coty Inc 6% 6V2 Drug Inc 59 57% 59 57 Lambert 37% 37 % 37% 37% Lehn 6c Fink ... .. 21% Zonite Prod 6% 6% 6% 7% Financial— Adams Exp 11% 11% 11% n% Allegheny Corp.. 4% 4% 4% 4% Chesa Corp ... 41% 41 Transamerica .8% 8 8 8% Tr Conti Corp.. 8% 8% 8% 8% Building— Am Radiator 16% 16% Gen Asphalt . ... 21 20% 20% 20% Tnt Cement 34% 34% 34% 34% Johns Manville 52 50'% 50% 52 Libby Owens Gls 31% 31% 31% 30% Otis Elev 22% 22% Ulcn Const .... 4% 4% 4% 4% Misce llanpou*— Am Bank Note.. .. ... 351Am Can 93% 92% ‘92% s2- 3 Anchor Cap 22% 22% 22% 22% Brklyn Man Tr. 38% 38% 38% 38% Conti Can . 63% 63% 63% 63% Eastman Kodak. 80% 80% 80% 80% Owens Bottle 86% 82 R 5% 78% Glidden ... ie% ip% Gotham Silk .. k n eKi a k V °H n ose.. 72 ; 7 °* ??,. New York Curb —June 27Close. Close Alum Cos of Am 88% 1 Inti Ptrol . 173. V. r, 2% Lake Shore Mi 37 A. Ct P & Lt B 5% Lone Stag Gas.. 11% Am Cvan B ... 13% Mount Prod . . 6 Am & For Pwr 11% Natl Bellas Hess 4 Am Gs & El.. 45% Nlag Hud Pw.. 12% ?, U P p " r • 2 '‘ Pan Am Airways 43% 4rk Ntl Pwr A 3% Parker Rstorf.. 53% Ass Gas A 2 Pennroad 3% Atlas Ut Corp.. 17, Pioneer Gld Mi 13% Axton 54 St Regis Paper 6% Bras Tr <fc Lt. 14% Salt Creek Prod 7% Can Marconi.. 2% Segal Lock 1% Cent Sts El ... 3% Std Oil of Ind 32% Cities Serv.... 5 % Std Oil of Kv. .. 17% Comron Edison 68 s * Stutz 17% Cord 12 : Translux 2% jfc Cos ... 36% United Founders 2% El Bnd A- Sh.. 3-\ United Gas 4% Ford of Eng... 4% Un Lt * Pwr A 7% Ford Mot Can. 13% United Verde. 4% Hudson Bav Mn 8% Util Pwr & Lt 3 Imperial 0i1... 12% Wright Hargrav 6 Irv Airchute.. 07,i

In the Cotton Markets

—June 26 CHICAGO , „ High Low Close January 10.7* 10 24 10.78 JJ* rc h 10.95 10 38 10.95 Mav 11.09 10.50 11.09 &bt 10 29 969 10.29 2 c '°ber 10.60 995 10.60 December 10 75 10.16 10 70 NEW YORK High Low Close January 10 85 10.17 10.35 March 10 99 10 32 10.99 May 11.12 10 46 11 12 July 10.30 9.57 10.30 October 10 60 9 90 10 60 December 10.77 10.07 10 70 NEW ORLEANS High Low Close January 10.80 10 18 10 80 March 10.94 10 32 10.9 J Mav 11.07 10 47 11.07 October 10 56 9 89 10.53 December 10.71 10 06 10 66 CHICAGO FRUIT MARKET Bu l rtiled Prat CHICAGO. June 38—Apples—Illinois Transparents bushel. 90c®II. Strawberries—Michigan. 50c® $1; Wisconsin. sl® 1 25. Raspberries—lllinois reds and Indiana reds. $2412.50. Indiana 24-pmt Blackcaps. $1 254< 150 Illinois, 24quart Blackcaps. 62&2.50 Cherries—Michigan sour. 504i7Sc; sweet. Si®. 1.75. Onion market: Texas, northern yellow Bermudas bushel sl4o® 150; California and Texas. Crystal*, white waxed, bushel, $1401.50; Cahfortuk yellows, bushel. $1.356.1.60.

U. S, DOMESTIC, FOREIGN TRADE SHOWING GAINS Dollar Depreciation Aids Buyers of American Products. BY RICHARD L. GRIDLEY United Pres* Financial Correspondent (Copyright. 1933. bv United Presst WASHINGTON, June 28 —Sweep- ; ing gains in domestic business and a pronounced improvement in for- ! eign trade were revealed today by | governmental statistics. Despite exchange restrictions, ; high tariffs and other barriers for- ; eign trade of the United States has , recovered rapidly from the low 1 points made earlier this year and foreign markets have orightened materially. The gain was ascribed pricipally to increased business activity in the United States, which caused American firms to buy more goods abroad and thus enabled foreigners to buy more from the United States. Dollar Off 20 Per Cent Another important factor is 20 per cent depreciation in the gold value of the American dollar. This enabled foreigners whose currency has not depreciated to buy products in the United States at a corresponding discount from previous levels. Combined United States imports and exports in May were valued at $221,000,000, department of commerce figures showed. This was the highest since December, when they were worth $229,000,000. Foreign trade normally is on the downtrend in May and June, but estimates for the latter month indicate a volume as great or greater than in May. Imports Show Increase Imports this month, which generally are closely paralleled by exports, are W’ell in excess of June. 1932. In the first twenty-four days of June the United States collected $18,003,681 in customs duties compared with $13,870,553 in the corresponding period last year. Customs receipts in May were $20,515,215, the highest since November, when they amounted to $24,050,876. The principal increase in American sales abroad, department of commerce statisticians said, has been in products which have not risen in price in the domestic market in sympathy with the decline in the dollar. Cotton Exports Rise According to the department, American chemical firms have ganied an advantage in the Canadian market; American petroleum is supplementing Rumanian oil in the European market; low-priced American automobile sales in Sweden have increased and American countries are selling more radios in the New r Zealand market. Despite the domestic rise in prices, cotton exports in June were above June, 1932, and w'ell in excess of the two preceding months. Other American products which have risen in price have not fared so well.

Average Stock Prices

Average of thirty industrials for Tuesday. high 100.27. low 98.01. last 98.74 un .25. Average of twenty rails 47.87. 46.12 ’V?7. up 161 Average of twenty utilities 36.10. 35.21. 35.46, up .26. Average of forty bonds 85.84. up .33.

Bank Clearings

INDIANAPOr ’ATEMENT —June 28 — Clearings $1 220,000.00 Debits 4.191,000.00 TREASURY STATEMENT —June 28— Net balance for June 26 $948,893 510 71 Expenditures 20.273! 166:43 Customs rects.. mo. to date 19.009.802.18 New York Bank Stocks By Abbott, Hopnin & Cos. —June 27 , . Bid. Ask. Brooklyn Trust 137 142 Central Hanover 136% 138% Chase National . 30% 30% Chemical 40% 40% National City 34% 35% Corn Exchange 58% 591, Continental 22% 23% Empire 22% 23% First National 1.440 1 460 Guaranty 301% 303% Irving 2iv, 2 1% Manhattan 6c Cos 31% 32% Manufacturers 17% 18 New York Trust 94 95 u Public 28% 29% Liberty Bonds By I nited Press NEW YORK. June 27—Closing Liberty bonds: (Decimals represent 32ndsi. Liberty 3%s 132-471 102 20 Liberty Ist 4%s (32-47) 102 9 liberty 4th 4%s 133-381 103 1 Treasury 4% s i^7-52) no Treasury 4s 144-54 > 106 10 Treasury 3%s (46-56* 10i'20 Treasury 3%s 143-471 10210 Treasury 3%s (41-43) March 102 6 Treasury 3%s 140-431 June 102 8 Treasury 3%s 146-49) 99 31 Treasury 3s (51-551 98 28

Daily Price Index

Bv l nited Press NEW YORK. June 27.—Dun & Bradstre:t s daily weighted Drire index of thirty basic commodities, compiled for the United Press: (1930-1932 Average. 100) Today 99 ,42 Mondav oi Wwk aero 93 2*> Month ago 90.95 Year ago 62 36 1933 High (June ! " 9042 1933 Low (Jan. 30 ( ...... 67 86 Copyright. 1933. bv Dun & Bradstreet. Inc.

Investment Trust Shares

(By Abbott. Hoppin & Cos.( —June 21— American Bank Stocks Corp.. B /,28 **46 American Founders Corp .... 187 200 American & General Sec -A” 5.50 650 Basic Industry Shares 3 51 British Type Inv Tr Sh so '95 Collateral Trustee Shares •A'’ 487 537 Corporate Trust Shares (old>. 2.64 Corporate Trust Shares tnewi 2.51 258 Cumulative Trust Shares 430 Diversified Trust Shares "A".. 650 Diversified Trust Shares ■B ". 850 875 Diversified Trust Shares “C'\. 332 340 Diversified Trust Shafes "D”. 5.50 600 First Insurance Stock Corp... 163 192 First Common Stock Corp 1.24 141 Fixed Trust Oil Shares •A”.. 950 Fixed Trust Oil Shares "B”.. 775 Fundamental Trust Sh “A''... 455 465 Fundamental Trust Shares B' 435 441 Low Priced Shares 600 Mass Invea Trust Shares 18.87 20 62 Nation-Wide Securities 372 North Amer Trust Sh (1953>. 204 North Am Tr Shares C55-’s6> 2.66 295 Selected American Shares . . 2.66 272 Selected Cumulative Shares.. 6.77 737 Selected Income Shares 363 412 Std Amer Trust Shares 331 337 Super Amer Trust Shares ••A” 309 Trust Shares of America 320 335 Trustee Std Oil "A- 5.50 SJK) Trustee Std Oil "B • 4.75 5.00 U S E ectric Light A- Pow • A" 16 50 Universal Trust Shares 323 3.33

Foreign Exchange

By Abbott. Hoppin 6c Cos —unue 2‘— Sterling. England C s4 S *7 mnc. France >. .0493 £2s*. i‘oiy, 0662 Franc. Belgium 1750 Mark. Germany %572 Ouilder, Holland ’5005 Peseta. Spain 1046 Krone. Norway . Krone. Denmark ft J#lo

THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bids or offerings, but mereiy indicate the approximate market level based on buying and selling inquiries or recent transactions. —June 28— STOCKS Bid. Ask. Belt Bail 6c Stock Yards com . 25 29 Belt Rail 6c Stock Yds pfd 6 % 45 49 Citizens Gas com 13 1< Citizens Gas Cos pfd 5% 63 68 Home T 4: T Wavne pfd 7% 36% 40% Ind 6c Mich Elec do pfd 7%.. 68 72 Ind Gen Service Cos pfd 6% 60 a 64% Ind Hydro Elec Cos 1:. 25 29 Indpls Gas Cos com 40 44 Indpls Pwr 4 Lt 67 60 6a Indpla Pwr &Lt Cos pfd 6',2Ue 67% 71 ‘a Indpls Water Cos pfd srr5 r r ....87 91 No Ind Pub Serv Cos pfd 5%% 36% 39% No Ind Pub Serv Cos 6% 38% 41% No Ird Pub Ser Cos 7G> 41 44 Public Serv Cos of Ind pfd 6% 16 19 Public Serv Cos of Ind pfd 7% 38*2 41 1 2 South Ind Gas 6c El pfd 5%.. 52 55 Terre Haute Elec pfd 6%... 40 42 BONDS Citizens Gas Cos 5s 1942 73'2 82’2 Home TANARUS& W 5%s 1955 93% 9(% Tome T & T W 6s 1943 94 ‘-2 9812 Indpls Gas Cos 5s 1952 72 75 Indpls Rys Inc 5s 1967 24 29 Indpls Water Cos 5%s 1952.. 95 99 Indpls Water Cos 5s 1960 92 96 Indpls Water Cos 5s 1970 97% 95*2 Indpls Water Cos 5%% 1953.. 97'/a 101 Va Indpls Water Cos 5%s 1954.. 97 101 Kokomo Water Works 1958.. 72 76 Lafayette Tel Cos 5s 1957 81 85 Muncie Water Works 5s 1930.. 90% 94% Richmond Water Works 1957.. 81 80 Terre Haute W’ater Wk 5s 1956 82 1 2 86' 2 Terre Haute Wat Wk 6s 1949 91 95 Traction Terminal Cos 5s 1957 42 46 Joint Stock Land Banks Bid. Ask. Atlanta 5% 40 43 Atlantic s'r Jo <§,, Burlington 5% 35 1 a 38 2 California 5% 54% 57% ‘Chicago 5% 24 2 2i 2 Dallas 5% 51% 54*2 Denver 5% 51 54 Des Moines STo 46% SO 2 First Carolina 5% 34 3( First Ft. Wavne 5% 51 54 First Montgomery s'r 38 41 First New Orleans 5% 46% 40*2 First Texas 5% 44% 47 2 First Tr Chicago 5% .. 53'/2 56% Fletcher 5% 38 72 Fremont 5 Tr 50 53 Greenbrier 57X 47 50 Illinois Monticello 5% 60% 63 '2 Ulinois-Midwest 5% 43 46 Indianapolis 5% 77 81 lowa 5% 57 60 Kentucky 5% 60■ l, 631-2 Lafayette 5% 51 54 Lincoln 599 50 53 Louisville sO’ 51 % 541-2 Marvland-Virginia 5% 63 66 Mississippi 5% 45 48 New- York 5% 461-2 49% North Carolina srs>5 r s> 39% 42% Oregon Washington 5% 37% 40*2 Pacific Portland 599 45 1 a 481 k Pacific Salt Lake 5% 50 53 Pacific San Francisco 599 50 53 Pennsylvania 5% 53 57 Phoenix 5 % 67 70 Potomac 599 49 52 •St. Louis 591- 241/a 271-i San Antonio 5 541 k 57% •Southern Minnesota 5% 14 15 Southwest 5 r 9 41 44 Tennessee 5% 46% 49% Union Detroit 5% 47 50 Union Louisville 5 r 9 52 56 Virginia Carolina 5% 43 46 Virginian 599 52 55 •Flat.

Bright Spots

B.v United Press Atchison, Topeka & Santa Fe railway reports May net operating income of $856,839, against $58,660 in May, 1932. American Metal Market, trade paper, estimates current steel operations at 51 per cent, against 47 per cent a week ago. Chicago, Burlington & Quincy railroad reports May surplus of $323,097, against deficit of $497,531 in May last year. Atlantic Coast Line railroad reports May net income of $505,164. against a deficit of in corresponding 1932 month.

Produce Markets

Delivered in Indianapolis prices: Hens, heavy breeds over 4% lbs.. 8c; Leghorns, 6c. Broilers: Colored springers. 1% lbs. up. 13c; springers (Leghorn). 1% lbs. up, 10c; barebacks. 7c; cocks and stags. 6c; Leghorn cocks and Leghorn stags, sc. Ducks, large white, full feathered and fat. over 4 lbs. 4c: small and colored, 3c. Geese, full feathered and fat. 3c. Young guineas. 20c; old guineas. 15c. Eggs—No. 1 fresh country run eggs, Bc. Each full egg case must weigh 55 lbs. gross; a deduction of 10c per lb. for each lb. under 55 lbs. gross will be made. Quoted bv the Wa.dley Company. BY UNITED PRESS CHICAGO. June 28.—Eggs—Market, firm; prices unchanged to %c higher; receipts, 8,647 cases; extra firsts. 13%®14%c; firsts 13%c; current receipts, 12%c; dirties, 10%c Butter—Market, firm; prices unchanged to %c higher; receipts. 10 378 tubs; specials, 25®25%c; extras. 24%c; extra firsts. 23", 4 (rt 24c; firsts. 21%®22%c seconds. 18®20c; standards. 24%c. Poultry —Market, steady: receipts, 45 trucks; fowls, 1010 1 nc: Leghorn broilers, 12® 13c: Leghorns. 8c: ducks. 6®9c: geese, 6%c; turkeys, lOdrlic: roosters. 8c; broilers, 14® 18%c; stags. 11c. Cheese—Twins, 13®13%cLonghorns. 13%®13%c. Potatoes—On track. 250; arrivals. 69: shipments. 366fi £ m: Virginia sacked cobbiers. $2.35tf72.40; barrel cobblers. s4<Tj4 25* racked cobblers. $2.25; Arkansas and Oklahoma sacked cobblers and triumphs. *2 20® 2.30; Wisconsin sacked round wnites. $1.60. CLEVELAND June 28.—Butter—Market, firm, extras, 28%c; standards, 28%c. Eggs firm; extras 16%c; current re2<v c ? tra firsts. 14c. Live poultry r^u arkct '. s, f’ adv : heavy fowls. 12® 13cfowis, 8®10c; heavy broilers, 17® i£ Khorn . brol Jers. 13® 14c; ducks. 8® 10c old roosters. Bc. Potatoes—No receipts. Other Livestock BY UNITED PRESS i mn E Y^M AND - June 28.—;Hoes—Receipts, J. 1 00. holdover none; steady to 5c liichpr’Y SL7S: unde/ Ao' lbs' la ß rgMy • 3.-a $78.50, CO*s. $3.25 to mostly S3 50 some held higher. Cattle—Receipts 150 : steesr. dull: lower grades predominating hm h , ull ' and low gr'ade cows slow? but about steady: scattered common to low medium steers. s4®s: low cutter to good cows around $1.75®3.25: most sausage bulls under $3.25. Calves—Receipts 400® mor e steady; bulk desirable veaG ers 55.50®6: sparingly $6.50: little aval - a ”if *♦■ Sheep-Receipts. 900; limbs dull: bulk 25c or more lower: conside’-imr quality at s7® 7.25: best here early *7 50? *4 50®6: la-ely SS.SO®V; yea?: lings and sheep scarce. ' LAFAYETTE. June 28.—Market 10r hitrh er. 200-300 lbs.. $4.35® 4.40 300-325 bV *4.35: 170-200 lbs.. $4.20® 4.30: 140-170 lb?” 52 ', op ca l ves - *4: top lambs, $7. mJrkef ED^tkarf Une “§ —Hogs—Receipts, 200; ti'sn te -f V j and strofie: heavy Yorkers. *4.50. mixed and bulk of sales *4 so ma fket "steady! Ckhes Receipts, light; market steady stead” 3nd lambs —^Receipts, light; market! 4 28 ‘ — Hoes —Receipts, 4.000 head. 32. direct; generally 5 cents ex S ep l light lights and sows steady; b . E ,°A d t 0 rhoice. 180-300 lbs $4 70 : nn St nn 16 ? K. 180 i lbs . * 4 . 40; desirable! lv o Ma4oi'xn la s? e f l 7. * 3/,3 75: s°'s mostrVivic ann 3 .- 50 - Cattle—Receipts. 700 head: calves. 400. most classes slow on a steady to weak basis; salves of steers and heifers mainly $♦ 25®5: odd lots up to $5.50: most beef cows, $2.50® 3.25: low cutters and r **-! *125®2.25: bulls. $2.50®3.25: odd head. $3.35. calves mostly 50 cents lowera few choice handyweight selections early $5.50 no criterion or general market: ve*fiS a bUlk . B °° d t 0 Choice vealers. $4 30®5.50; plainer grades $4 down. Sheep—Receipts. 5.000 head; fat lambs trade mostly 50 cents lower- better grade relatively scarce, mostly s7® TSO. plainer grades largely $4.50®5: some mixed lambs. $5.50®6.50; a few fat aged ewes principally around $1; best lightweights quotable to $1.50. GAS MASKS ADDED TO CITY POLICE EQUIPMENT Long and Short Range Guns Also Purchased by Force, A regulation gas mask and long and short range gas guns have been added to the equipment of the Indianapolis police department. Chief Mike Morrissey announced today. The mask was bought on a guarantee that it can be used in any kind of gas. Morrissey advised that the long range gas gun should be used in combatting persons who barricade themselves in resisting arrest and the short range gun in coping with rioters. Arm Broken by Truck By United Press KENDALLVILLE. Ind., June 28. —Miss Mildred Snyder, 14. Butler, suffered a broken arm while riding on a bus near here when she stretched her arm out through the window, and it was struck by a passing truck.

SWINE VALUES UNEVENLY UP, OFFATYARDS Heavyweights Show Gain With Light Kinds Loosing. Hogs displayed a slighi.'y uneven trend this morning at the city yards, prices for weights over 160 pounds generally 10 cents higher. Underweights were steady to a dime lower. The bulk of sales on 190 to 350 pounders were made at $4 45 to $4.55. Top price was $4.60, some held at that figure. Weights of 130 to 350 pounds brought $3.50 to $4. Receipts were estimated at 8,000. Holdovers were 341. Early action in the cattle market was fully steady with the previous session. Some buyers were slow in getting into action, but indications were firm. Receipts were 1,300. Vealers were slightly weaker at $5 down. Top was $5.25. Calf receipts were 700. Lambs were unevenly lower, selling mostly at $7.50 down with little or no demand for half-fed and unfinished kinds. Receipts were 1,600. Hog prices at Chicago continued higher, with few bids rind sales around 5 to 10 cents higher than Tuesday. The bulk of good to choice scaling from 220 to 260 pounds was bid in at $4.65, while early top for 250 pound weights was $4.65. Receipts were estimated at 25.000, including 12.000 direct; holdovers 2,000. Cattle receipts numbered 8,000; calves, 2,000; market strong. Sheep receipts w-ere 9,000; market strong. HOGS June. Bulk. Too. Receipts. 21. $4.45(3 4.55 $4.60 10,000 22. 4.45® 4.55 4 60 9,000 23. 4.40®' 4.55 4.55 10,500 24. 4.25® 4.45 4.50 4,500 26. 4,35® 4.45 4 45 8.500 27. 4.35® 4.45 4.50 10,000 28. 4.45® 4.55 4.60 8.000 Market, lower. (140-160) Good and choice. ..$ 3.75® 4.00 —Light Weights—-(l6o-180) Good and choice... 4.35 (180-200) Good and choice... 4.40® 4.45 —Medium Weights—-(2oo-220) Good and choice... 4.50 (220-250) Good and choice.. 4.50® 4.60 —Heavy Weights—• (250-290) Good and choice.. 4.50® 4.60 (290-350) Good and choice... 4.45® 4.55 —Packing Sows—(3so down) Good 3.85® 4.00 (350 UDI Good 3.75® 3,90 (All weights) medium 3.50® 3.85 —Slaughter Pigs—-(llo-190) Good and choice... 3.00® 3.25 CATTLE Receipts, 1,300; market, steady. f 1.050-1.100) Good and choice $ 5.25® 7.00 Common and medium 4.00® 5.25 (1.100-1.500) Good and choice 5.25® 7.00 Medium 4.25® 5.25 —Heifers—-(sso-750) Good and choice 4.75® 6.00 Common and medium 3.50® 4.75 <750-900) Good and choice 4.25® 5.75 Common and medium 3.25® 4.25 —Cows— Good 3.25® 4.00 Common and medium 2.50® 3.25 Low cutter and medium 1.50® 2.50 —Bulls (vear)ings excluded' Good (beef) 3.00® 3.50 Cutter, common and medium.. 2.00® 3.00 VEALERS Receipts. 700; market, lower. Good and choice $ 4.75® 5.25 Medium 3.50® 4.75 Cull and common 2.00® 3.50 —Calves—-(2so-500) Good and choice 3.50® 4.50 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-8001 Good and choice 4.75® 6.00 Common and medium 3.00® 4.75 (800-1.5001-Good and choice 4.75® 6.00 Common and medium 3.00® 4.75 SHEEP AND LAMBS Receipts. 1,600; market, lower. —Lambs. Shorn Basis—(9o lbs. down) good & choice.s 6.50® 7.50 (90 lbs. down) com. & med... 4.00® 6.50 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.00

Other Livestock BY UNITED PRESS CHICAGO. June 28.—Hogs—Receipts. 25.000; including 12.000 direct; active, mostly 15c higher than Tuesday: spots up more; 200-300 lbs.. $4.65® 4.75; top. $4.75; 140190 lbs., $3.50® 4.65; 310-400 lbs.. 54.30® 4.65: packing sows mostly $3.65® 4: light lights. 140-160 lbs., good and choice. $3.50 ®4.40: light weights. 160-290 lbs., good and choice. [email protected]; medium weights. 200-250 lbs., good and choice. $4.65®4.75; heavy weights. 250-350 lbs., good and choice. $4.50®4.75; packing sows. 275-550 lbs.. medium and good. $3.40®4.30; slaughter nigs. 100-130 lbs., good and choice. s3® 3.50. Cattle—Receipts. 8,000: calves. 2.000; better grade fed steers and yearlings fairly active, fully steady; largely shippers market on such kinds: numerous loads. $6.25® 6.75: with best 1.326-lb. averages. $6.80; some held higher; bullocks sealing above 1.700 lbs., $5.75; general steer market being $5.25®6.25 affair; yearling heifers, strong to 15c higherother classes generally steady; best light heifers. $5.65; mixed offerings. $6; most vealers. $5 dow-nward: stocker trade very pull. Slaughter cattle and vealers—Steers. OSG-900 lbs., good and choice. $5.25® 7.25: 900-1100 ibs., good and choice, $5.25®7.25: 1100-1300 lbs., good and choice, $5.25® 7.25: 1300-1500 lbs., good and choice. $5 25® 6.75: 550-1300 lbs.. ■ common and medium. 53.20® 5.50: heifers. 550-750 lbs., good and choice. $4.75®5.75: common and medium, 53®4.75: cows, good, $3.25®4: common and medium. $2.50®3.25: low cutter and cutter. $1.75®,2.50; bulls, yearlings excluded, good beef. $3®3.50; cutter common and medium. $2.50®3.50; vealers. good and choice. $4.50® 6: meauim. s4® 4.50: cull and common. $2.50® 4. Stocker and feeder cattle—Steers. 500-1050 lbs., good and choice. *4 50® 5.75; common and medium. $3 25®4.50. Sheep—Receipts 9.000; not fully established: few sales weak to 25c lower: desirable native ewe and wether lambs. $6.75®7.25: some held higher: fat ew'es. $2®2.75. Slaughter sheep and lambs —Lambs. 90 lbs. dowm. god and choice 56.75® 7.50: common and medium. Ss®6 75ewes, 90-150 lbs . good and choice. $1.75®31 11 weights common and medium. sl2s® June 18—Hogs—Receipts ?22 : „, r ?,? r , 1 5. et - 20c and m °re higher; 170-2170 lbs.. $4.90®5; 280-300 lbs.. s4*7s® 4 85: 100-130 lbs., $3.50®4; packing sow's steady, mostly $3 50 downward Cattle Receipts. 25: market little changed; good steers quoted $5.50® 6 50; better grade heifers $5 25 downward; medium to good cows. $2. is® 3.75. Calves—Receipts, 100; K arae l steady; most better grade vealers. ss® 5.75. Sheep—Receipts. 500: market $7 50 S steady 10 weak ) top. $8; bulk around EAST ST. LOUIS, 111.. June 25.—Hogs— Receipts 13,500: market. s®loc higher bulk. 170-300 lbs. $4 50® 4 65 : 140-160 lbs.. $3.65®4.35; 100-130 ibs. $2 75 &?hn 5: - S J? WS *3.6563.85. , Cattle-Receipts. 3 000. calves. 1.500: market, opened about fl eadv °p most classes, but slow with iv 25c lo J er at * 4 s °l a * ew steers. J0.65®6. miwd yearlings and heifers ss® ® '5- COW 'S. $2.50® 3.25; low cutters sl2s® Lis. top sausage bulls. $2 85. Sheep. 4 500- ™ r s € V?, pened v st , eady , t 0 shippers and small killers; better lambs, $7.25; top 56 packers talkln lower; fat ewes. $1.50 , FT ■ WAYNE. June 23. -—Hogs—Market 250-300 lbs., $4.50: 200-250 lbs wX ll 0 " 200 lbs.. $4.30; 140-17 lbs° $4. : i2', 140 lb s- *3.35; roughs $3 25: stags. * 2 25 ,- calve*. $5; spring , lambs. $6.50 Cattle—Steers, good to choice. $5®5.50: medium to good, $4 50® 5; sommon to medium. $3 50®4.50; heifers, good to cnoice, ss® 5.50; medium to good $4 50 a5: common to medium $3 50'S 4.50; cows cho ’ c e. $3®3.50; medium to good’ sarso®3. cutter cows. s2® 2.50; canners. Sl®2; bulls good to choice, s3®a.so- - to good. $2.75® 3. EAST BUFFALO. June 28.—Hogs—On sale. 1,000; weighs above 190 lbs . fairly act Jvf• 5® 10c over Tuesday’s average, desiraole 180-250 lbs.. $4.95® 5; few mixed lots, $4.90; 140-150 lbs., quoted s4® 425 inferior piqs downward to *3.10. Cattle— Receipts. 2(5: steers and fat cows 10®25c under Monday's average: good steers. $6.10medium and grasv offerings, ss® 5.50: few *3-25; cutter grades unchanged. $1.75®2 50. Calves—Receipts, 150: vealers active, steady to strong, good to choice d-iim” * pSO, common and med.um. $4.50® 5 25. Sheep—Receipts. 500 lambs steady, quality and sorts considered' ?- e ; in 2 s }S Roo<l * atnbs - bucks included! $i 25®8. throwouts, $6.50 down. By Times tyccial LOUISVILLE, June 28—Cattle—Receipts 1(5: extremely draggy weak to lower tnan Monday s level: bulk common to medium grass steers ind heifers. *3 50®4.25- better finished kinds quotable to $5.25; bulk all cows. $1 ff 2.50: bulls mostly $2 75 downlight stockers mostly. s4® 4.50. good to ss! Calves—Receipts 300: market not established: indications weak; bulk better vealers Tuesday $3.50®.4. Hogs—Receipts. 1.090. weights. 140 lbs. down steady others 5c higher; 185-275 lbs.. *4 40 2^5 lbs. up $4: 140-185 lbs. $3.55; 140 lbs. down, $2; bulk sows. $2 90 stags $1 85 Sheep—Receipts 4.000. lamos mostly 50c lower; bulk better truck lambs, $6.50® 6.75: choice long haul overnight and rail kinds, s7® 7.25; bu-ks mostly $5 50® 6.25; common and medium grades $3.50® 4 50: fat ewes. sl®2; stock ewes, $4.50®6 50 per head. Tuesday's receipts. 161 cattle; 364 calves; 664 hogs end 5.516 sheep. Tuesday's shipments. 230 calves,slo Hogs asd 5,063 sheep.

-Today and Tomorrowj

The World Is Attempting to Solve a Problem It Does Not Understand, in This Money Issue. BY WALTER LIPPMANN

LONDON, June 28.—Although it has been demonstrated again and again that larger international conferences can do little more than register and celebrate agreements arrived at privately before they meet, the London conference has assembled without agreements made in advance. There were, to be sure, many conversations with many missions during the spring. But they appear either to have produced no under-

standing on the crucial issues, or. as in the case of the conversations with the French, downright misunderstandings. That being the case, the governments are very much to blame for bringing the conference together at this time. There is not a man of any experience in any country who does not know that unless the preliminary preparation is well done, a great conference, in a blaze of publicity attended by hundreds of aimless delegates and experts, can add only to the international confusion. Apart, therefore, from more or less abstract discussions and a certain amount of exploratory researches, this conference must wait while Great Britain, France, and the United States try to work out the understandings they should have reached before they brought sixty-seven delegations to London.

.jjg flip ■■ '

Lippmann

If there were not involved all sorts of points of prestige, if in matters of this sort men could be honestly practical, the conference would take a recess while the British, the French, and Americans conferred privately.

SINCE it is probably impossible to be as sensible as that, what we shall see, I suppose, in the next two weeks is the attempt to carry on these neglected but indispensable negotiations while the whole world is looking in at the window. This means that there will be little real privacy, and without privacy negotiations soon become declamatory and an obstinate insistence on popular formulae. The basis of such initial understanding is the ability and the willingness of the negotiators to disclose to one another what they actually wish to accomplish. Almost no progress has been made along this line. The resolutions and speeches thus far are masterpieces of ambiguity which conceal rather than reveal the truth. Let us remember that a world conference on money is dealing with a subject which is obscure to the most expert. The impenetrable uncertainties of our knowledge of money are at the root of the difficulties here. They are a deeper cause of the confusion than nationalism or self-interest or political ambition. The world is attempting to solve a problem which it does not understand. Because no one thoroughly understands it, and most everybody else understands it not at all, the policies adopted by the governments are not certain expressions of their national interest, but rough guesses as to what they think may be their national interests. a a a SO even when the negotiators mean to be candid, they are not sure what they would really like to do if they could dictate the arrangements. The British and French, for example, complain that while we insist upon a rise in prices we decline to specify how much we wish prices to rise. They are right. We do not specify, because we do not know. We know that our internal economy requires prices higher than those which now prevail, but we do not know with any exactness where we shall wish to arrest the rise in prices. Presumably it will be at the point where trade again is as active as it was about 1920, but whether, after the adjustments of debts and costs which have been made, that means a 1926 price level or one that is lower than that, we do not know. So we have a policy of raising prices and watching the results. But we can w'ith justice turn around and complain that the British view is equally vague. Mr. Chamberlain also declares for a rise in prices. But the intimations are that the rise must be “njoderate,” which means, it appears, that internal British prices should not rise so much that British wage rates have to be raised also. How much of a rise that means no one seems to know. a a a WHEN we turn to the French we find that they also have approved a rise in prices. But when you talk with them, they disclaim any intention of bringing it about “artificially,” that is, by monetary means, and when you talk further you learn that the predominant interests in France, the people who have the votes, continue to be a great mass living on bonds, pensions, and fixed salaries. They already pay prices higher than the world level and they do not wish to have their real incomes reduced. Thus it might be said that the American policy is determined largely by the interest of debtors and primary producers, the British policy by manufacturing interests for the export trade, the French policy by the most widely democratic creditor class in the world. We are seeking a considerable rise in prices the British a lesser rise, the French as small a rise as possible. The reconciliation of these underlying views is the problem, and the chances of success would seem to lie in bringing the British and ourselves to a more or less common view. (Copyright. 1933) C. F. BENZEL APPOINTED TO NEW YORK POSITION Former Indiana University Director Goes With Investment Trust. Appointment of Charles F. Benzel, former director of the Indianapolis division of the Indiana university bureau of business research, to the staff of Mayflower Consolidated. an investment trust of New York City, was announced here today. Benzel, also formerly connected with the Gimble Brothers department store of Milwaukee, Wis., will take over his new position July 15. His work with the new concern will be special business analysis under the direction of Dr. Lionel D. Eddie, vice-president and director. In addition to the research and analysis duties which he inaugurated at the Gimble department store, Benzel was merchandise manager of the home furnishings division. NEW YORK COFFEE FUTURES RIO High. Low Close. March 5.80 57 6 5.76 May 8.84 $.76 576 July 5.61 September 5 63 December 6.87 5 85 5 85 SANTOS January 7 Si March 785 778 7.78 Mav 778 771 778 July 801 790 790 September ,7 30 789 790 ■December 7.93 783 7.83

The City in Brief

A gold necklace, * wrist watch, a ring and an automatic revolver with a total value of more than SBO were stolen from the home of Adam Grosskopf, 2328 Park avenue, when burglars entered Tuesday by removing a pane of glass from a rear door. Carrying a flash light and a cheap ring alleged by police to have been stolen, Joseph Newton, 20, of 820 Daly street, was arrested Tuesday. He also is accused of stealing two packages of cigarets from a car parked at 110 North Capitol avenue. Spectacles valued at 535 were stolen from Ralph Updyke. 5230 East Washington street, Tuesday as he swam in White river about one mile north of Thirtieth street. Golf clubs and other golf accessories valued at S4O were stolen from a car owned by Albert C. Gross, 6149 Norwald avenue, while parked near Broad Ripple park Tuesday, Riding a Big Four freight train from Toledo, 0., Edgar Huffman, 49. Burnett, Ind., suffered a fracture of his left foot when it struck a switch standard about twenty-five miles from Indianapolis. He was taken to city hospital. Officers have been established in the Indiana Pythian building by C. L. Harry, associated with development of Muscle Shoals, Ala., since 1921, for dissemination of information relative to business, industrial and real estate conditions at Sheffield, Ala. Mrs. Isidore Feibleman, 3262 Ruckle street, w 7 as elected a member of the executive board of the National Federation of Temple Sisterhoods at the tenth biennial assembly of the organization at Chicago. Two Negroes, William Johnson, 19, Chicago, and Eugene McClerkin, 19, of 1535 Bundy place, were arrested early today by police who reported they found the two ransacking a car in front of 111 South Capitol avenue. Police fired a shot at them as they fled. Nothing was stolen from the car which is ownpd by the Dixie Wax Paper Company, Memphis, Tenn. Miss Beatrice Gerrin. superintendent of nurses at city hospital, will sail from New York Friday night on the Majestic for Paris, France, to attend the International Congress of Nursing.

Chicago Stocks By Abbott. Hoppin & Cos.

TOTAL SALES. 141,000 SHARES —June 27 . . ... High. Low. Close. Adams Mfg 11'4 11 lit'. Adams Royalty 3*, 3 3s, Allied Products 31a, 21'4 21'. Asbestos Mfg 5 4*2 1-i? Asso Tel ft Tel IAI *, s. Asso Tel ft Tel 8% 2 i? Bastian-Blessing 14 ‘x 2 i/ 731, Bsndix Aviation 1934, 701? 10 Sinks Mfg b£ 4'4 4'4 Blum s Inc pfd 3 Borg Warner 20H i9*/, 19’4 I V> Br HS e Cos 17,2 IS'i 17>4 Butler Bros s’. ,sf I*l Berghoff 1714 4 jgt* 7?^ Cent 111 Pub Serv pfd . 24 Cent Ind Power pfd. ’ 11 Cent Pub Util 19 S/ Cent Pub Util V T C i* Cent ft So West... .'3 ‘ as* , 3 Cent &So West pfd 17 751? 17 Cent ft So West P L pfd 25‘4 234 25'. Chi & North Western . 9'j gr. 9 Ch City & con Rys ctfs 111 * 71 Chicago Corp com 41. 4 ii? Chicago Corp pfd 261, 94'/. 9ki* Chicago Yellow Cab .... 1714 fgi! ?S 2 Cities Service s- 4 * Club Aluminuum \ ,. 4 9 V Comonwealth Edison... 69 67', 67'! Continental Steel 3 a, 2 Cord Cord 12'4 111. 113 2 Dexter Cos gii U?' 4 Eddy Paper ; io£ 2lt ini! Electric Household .13 7I1? } 2 !* Fitzsimmons ft Connell .. if * Godchaux "B" 7 ‘ ca,. 4, Goldblatt Bros j, 4 5S/ 4 Great Lakes Aircraft . l*J j* 2 \\ 3 Great Lakes Dredge... 16 3 * 16V 16U Grayhound Corp ... . fv. 7 , 2 [ Griesby-Grunow 2*4 2M. 95. ; Hall Printing "i! 7 It . S HoudaiHe-Hershev B". 6V, 5*4 s*l 111 Northern Util .2 4 | Ind Pneu Tool ....... ‘ l Kalamazoo Stove 3i ' 2 S ,1 , Katz Drug 2414, 2 ? 21 Ken-Rad Tube ft Lamp . 7 Ken Ut Jr Cum pfd ... . 20'. I Keystone Steel fji 4 Libby-McNeil gv, i 6 3 t ' Lincoln Printing 2 I Lindsay Light ’" 3 I Lion Oil Refining Cos . s*/ "5 1 j Lynch Corp I Marshall Field 18 18*i 17 s ! ' McGraw Electric L i McWilliams Dredg Cos . .. 74a* i Merchants ft Mfg A’\ .. . ' ? Mickelberry’s Food Prod 6% gi. *7. ] Middle West Utilities.. % >Z *! j Middle W'est UtU 67, A .. 2 Midland United I*4 'iv, fu. ! Modine 74 ; Muskegon Motor 8 A . 7>4 ’7 71, I National Battery . 22', ! National Leather 2 National Securities Inv .. . 2 1 , I National Union Radio. 2 1% in. Noblitt-Sparks Ind Inc 27*. North American Car gu l North Amer Light ft Po 5 Northwest Bancorpor 9V4 914 91'Northwest Engineering 10 j Perfect Circle • 26 jPrima Cos 36'* 25'., 26 ; Process Corp 4V, 3*, 41, ! Public Service N P 33-.! j Public Bervice 87. pfd 65V4 64V, 6.V, ! Quaker Oats 135 137 135 Quaker Oats pfd 772 I Railroad Shares 71* 1 Rath Packing 25 Raytheon V T C pfd 51, Relianca International .. 44 Relance Mfg Cos 17V4 n 171^ ! Rverson ft Son jg 1 ' i Sangamo Elect com 8 Seaboard Utilities 8h . .. 3ears Roebuck 38*'* 37>4 3714 Standard Dredg Cos pfd . 5 Storklme Furniture .... 5H 4k, Studebaker Mail I 14 2 Studebaker Mail A 2 j Super Maid 4*4 C, 4*4 Bwlft ACo 30’% 20', 20*4 j Swift International ... 29’* 29 291% j Thompson J R 12*4 12 ! % 12'a iU I Gypsum com 44'% 44 44’* iH.® B ? d A° * Tel 17’s 17V* 17’% ; Utility ft Ind 3H 3*4 3', Utility ft Ind pfd ja* Vortex Cup Cos ( g*% B*. Vortex Cup Cos A 27 28> 28', Walgreen Cos com 19*4 18’% 19S I Ward Montgomery A... 79’% 79 79’, i Waukesha Motor 43 West P L ft Tel A 1 wieboidt S'ore* 14V* 13% 14’.* Zenith Radio .... 3V% 2 2V,

PAGE 13

COST OF LIVING UP FIRST TIME IN THREE YEARS Increase of .8 Per Cent Is Due to Rise in Food Prices. For the first, time since September. 1930, there has been an increase in the cost of living of wagfearners, according to the index of the National Industrial Conference Board. The increase which amounted to 8 per cent, was due almost entirely to a substantial rise in food prices. Total living costs in May were 7.4 per cent lower than in May, 1932. and 27.1 per cent lower than in May. 1929. The purchasing value of the dollar, on the base, 1923—100 cents, was 138.7 cents in May, as compared with 139.9 cents in April. For the entire period covered by the boards computations, the purchasll®if’ToTr of the dolar was highest at 161.3 cents n July, 1914, and lowest at 80.9 cents in July, 1920. Increase Is Larger Although a seasonal upturn in food prices is generally observed between April and May, the increase of 3.6 per cent between these two months of this year is muen larger than the usual seasonal rise. Compared with prices in May, 1932. there has been a decline of 7.5 per cent and since May of four vears ago. a decline of 38.9 per cent Rents continued on their downward trend, declining .8 per cent ,ii ce f pnl - From thirteen of the i,ah D C 165 . il ? Cluded m the tiSl 7 ental ® were reported; from thirty-four cities, lower rentals, rh?n fror V he remain ing cities, no , dangp ? m Z e May 1932 - and May. 1929, rents have declined 13.6 per cent and 311 per cent respectively. The clothing index as a whole AmiT ne Smau e i Same May as in April. Small increases in the average prices of twenty-four of the forty-seven articles of clothing covered w'ere offset by decSbes in ° f sixteen articles, while no change was noted in the prices of seven articles. Since May, 1932, the this^hnrf C °f l v,° f clothing covered in this budget has fallen 9.3 per cent and since May, 1929, 38.2 per cent. Coal Prices Fall Coal prices fell 3.2 per cent betveen April and May, more than is generally noted between these two months. The decrease since the beginning of this year, however, was only slightly larger than the usual m^ al d ® cJ, ? e durin S the first five months of the year. Since May. 1932. there has been a reduction of 4J* per cent and since May. 1929 of 13 per cent. , The very small increase of 1 per cent in the sundries index was caused by slightly higher prices of furniture and house furnishings. The sundries index as a whole was 4.2 per cent low'er in May than in May, 1932. and 9.1 per cent lower in May, 1929.

Indianapolis Cash Grain

. . —June 27 Tnft Dlus for car lots of (Train at thd* f 3 n° h the . . Indlana Pol*s Board of Trade. York rate, B were ihg point, basis 41'% New r<s^ h |®'~r® tr °og. No 1 red No 2 red. 84®85c: No. 2 hard, 82Q83C Corn—Strongi No. 3 white. 47® 48c: No 4 white, 46047 c: No 3 yellow ; , 45®46c: No’ No' P 4* mixed'®44r N °- 3 miXe<l ' 4445 c; 3 39SWC; No * Hay—Steady. (F. o. b. country points taking 23 1 zc or less rates to Cincinnati or Louisville). Timothy—No. 1, $5 5006: timothy No. 2 [email protected]. „ . —lnspections Wheat-No. 2 red. 1 car: No 1 hard, 2 cars. Total, 3 cars. Corn—No. 2 white. 7 cars; No. 3 white 4 cars; No. 2 yellow, 3 cars. No. 3 yellow 3 cars; No. 4 yellow, 4 cars. Total, 21 cars. Oats—No. 2 white. 2 cars; No. 3 white, 6 cars; No. 4 white 1 car. Total. 9 cars. Chicago Primary Receipts —June 27 Corn 1.145.000 Oats 407.000 Chicago Futures Range —June 28WHEAT— Prev , , High. Low. 10 00 close! July * .94 89 .94 .95’* Sept 95’. 92 .95 97*% P.ec 99* .94', .98*4 103 May 1.04 98’% 102 1 05’4 CORN— July ,52'2 .51*2 .52'% .55' 2 Sept. .58Vi .55 .58 .60‘i, Dec 63 .59*4 .62 1 -* 64% OATS— July .40*4 .44’ Sept 44*2 41'2 44 V 2 .46'* Dec 47'% 42 '/ a 45V* .47'* RYE—■July ...’ 75 .74*4 75 .77*4 Sept 79'% .788% 79'ft .81*4 Dec .83*/* 81 83 3 % 86'* BARLEY— July 55'ft Sept 59 'ft Dec 628 AT. LOUIS CASH GRAIN By United Prese ST. LOUIS. June 27—Cash gram Wheat —ln good demand SSS'jc higher earlv on red and nominally Sc higher late; hard grades up 7c; No. 2 red. 94®94*20 weevil; No. 2 red. garlicky 94c; No. 3 red. garlicky. 93c; light weevil: No. 2 hard. 97'%c. nominal. Corn—ln fair demand. 3i®4c higher: No. 2 vellow. 54’954* 2 e; No. 3 yellow. 53®53 ! 2C; sample vellow. 48c. Oats—ln firm demand 36c higher; No. 3 white. 45c. CHICAGO CASH GRAIN By United Press CHICAGO. June 27—Cash grain close: Wheat—No 2 red 92 I *'3 92**e Corn —No. 2 mixed. 51®52‘/zc: No. 3 mixed. 51‘ft® •52c: No. 5 mixed. 45' 2 c: No. 6 mixed. 45c. No. 1 vellow. 54c. No. 2 vellow. 52'2<fi54'ftc: No. 3 vellow. 50ft 53c: No. 4 vellow. 48ft; 51c: No. 5 vellow. 45’.ftSl'jc: No 6 vellow 45ft48c: No 2 white. 53**ft54c: No. 3 white. 50ft53'2c; No 6 white 45‘ 2 c; sample grade. 32*. ft 50c. Oats—No. 2 white 43ft 44'zc: No. 3 white. 42>4@44c: No. i feed 36c. Rve—No. 2 76c. Bariev—32ft; 62c Timothy—*3.2so3 50. Clover—*B® 12.75. TOLEDO CASH GRAIN By United Press TOLEDO June 27.—Cash grain cloee: Gram in elevators transit billing: Wheat —No. 2 red. 97*2098' 2 c: No. 1 red. lo premium. Corn—No. 2 vellow. 58ft59c. 2?i£r No * white. 480 49c Rve—No. 2. Me- „ Tr , c k orices. 28'2 cent rate: Wheat—No. 1 red 94ft 95e: No 2 red 93® 94c. Corn—No. 2 vellow. 54 0 54*2C: No. 3 vellow. 52'2ft53'2f Oats—No. 2 white. 45ft46c: No. 3 white 44‘2ft45c. Toledo seed close: Clover—Cash. 17.75; October. $8 Alsike—Cash *7 75: August. *B. To£oo produce: Butter—Fancy creamery. 27c Eggs —Extra* 12‘/*ai3c. Ha v—Timothv per cwt.. 70c. INDIANAPOLIS WAGON WHEAT City grain elevators are paving 84 cent* for No. 2 soft red wheat. Othec grades on their merits We Offer: FRANK FEHR BREWING CO. Participating Preference Stock At Market Listed Chicago Curb Exchaag* Order* Executed All Brewing Stocks T. P. Burke & Cos. Incorporated 217-224 CIRCLE lOWEI PHONE KILEY 8636