Indianapolis Times, Volume 45, Number 50, Indianapolis, Marion County, 8 July 1933 Edition 02 — Page 9

JULY 8, 1933

Wall Street International Mining Stock Offering Stumps Street; May Involve New Securities Act. BY RALPH HENDERSHOT Time* Special Financial Writer

The offering this week of 63,506 shares of common stock of the International Mining Corporation with stock purchase warrants, gave the greet something new to talk about. The name of Lehman Brothers, investment bankers, was on the offering, but the firm acted only as agents Instead of in the usual capacity of underwriters. No explanation for the action was obtainable, a member of the firm stating only that attorneys thought there might be an advantage in the unusual status. In some quarters it was thought that by acting as an agent the firm might escape the responsibilities imposed on underwriters by the new securities act, but that point would seem to be open to discussion. The securities act defines an underwriter as “any person who has

purchased from an issuer with a view to or sell for an issuer in connection with the distribution of any security or participates or has a direct or indirect participation in the direct or indirect underwriting of any ‘-uch undertaking, but such term shall not include a person whose interest is limited to a commission from an underwriter or a dealer not in excess of the usual and customary distributors’ or sellers’ commission. As used in this paragraph, the terms ‘issuer’ shall include, in addition to an issuer, any person directly or indirectly controlling or controlled by the issuer or any person under direct or indirect common control with the issuer.” a a tt Lent Sponsorship to Deal Lehman Brothers might contend that their only interest in the sale of the stock is limited to a commission from the company, which is acting as the underwriter, and that their commission of 75 cents a

"

Ralph Hendershot

share is not in excess of the usual commission, and consequently they do not come under the provisions of the act. It might be difficult for them to substantiate that claim, however, for they probably had a great deal to do with the setting up of the deal, and the fact that their name was displayed prominently on the offering circular would tend to indicate that they had lent their sponsorship to the offering. It is pertinent Lo note also that the circular attempted to live up to file spirit, at least, of the act because it revealed much more data about the company and the deal itself than has been customary in the past. Til at might tend t 0 indicate that neither the company nor the bankers were taking any chances on a comeback in the event the latter had not found a safe loophole in the act. It might indicate also, of course, that no attempt was being made to find such a loophole. a a a Bankers Don’t Work for Their Health Bankers are not in the habit of going to so much trouble to change an underwriting practice which has been in effect for years without good reason, however, so ltis a fairly safe bet there is a colored man hidden in the woodpile somewhere. It is possible, though, that they did not wish to underwrite the deal at this time for fear it might not go over and they would be stuck with the stock. Stranger things have happened, but it would seem that if such were the case they would prefer not to participate in the sale of the issue at all. It would be amusing if within a few weeks after a law. which has been termed the strongest and most airtight piece of stock legislation ever put on the books, was enacted a way had been found to beat it. And it would add spice to the effort if a Lehman firm were the one to find the weak spot in the Roosevelt measure.

New York Stocks ' (Bv Abbott. Hoppln & Cos.)

—July 8— Prev. Oils—. High. Low Close, close. AmerncU . .. 390 390 39'/2 390 All Hf s 30' 2 300 30V 300 Hinisdull 100 10'* 10** 100 Consul Oil 15> h 14 7 8 15 15’4 Cont of l)el 180 18 k 180 19 Houston inewi.. 7'o 60 60 60 Houston toldi.. 35 35 35 36 Indian Rig .. 33* 4 Mid Cont Pet .16 150 15 3 * 15 s * Ohio Oil 160 16'* 163* 163a Pet Corn 143a 14 14 14'a Phillips Pet 17 s * 16 7 b 17'* 17 ‘ s Pure Oil 10’* 10 O 10' 10‘/a Royal Dutch 35 34 % 3 4 7 „ 350 Sbd Oil 32 1 1 32'h 32' 8 320 Shell Union .... 11'* 100 100 11'* Si turn Pet 12 11"* 11"* 11 aj SlCCllev Oil .. .. 9 r 'a 9'* 9'* 93* Soe Vac 14'a 14'* 14", 15 SO of Cal 39 7 a 39 390 390 S O of Kan .. . 23 8O Os N J . 40' a 39 3 a 39’a 390 Sun Oil ... 47 47 :l * Texas Corp 28 27'i 27", 27", Tidewater Assn.. 10-0 10 10'* 10'* Un Oil of Cal... 22 J * 22'2 220 227s Sinus— Am Hull Mills.. 27 7 a 270 270 270 Beth S'eel 47’. 47 "a 47". 48 s . Brel. AM 31'2 31',* 31'2 31 s a Col Fuel & Iron 17 160 17 16’a C'ruc Steel 28 O 28 Olllt Hf* Steel 34 Ini: ml Steel 44 44 Liidlum Steel 187* 19 McKeesport Tin 90 87'* 90 86 ! b Not! S' eel . 54’* 53 '* 53'* 54 s * Hep Iron & steel 21 ‘a 200 210 207* Hep Iron Ac Stl psl 50'* 50'* 50 l; 8 Smelt ... 58"a 55'* 57'a 56'2 Vanadium 28'* 27’* 28'.* 287a Midland 173* 16'a 17". 17 B S Pipe & Fdy. 20' * 20 '. 200 21'* V B Steel S 6 7 „ 64' 2 65 5 , 66 U S Steel pfd...1030 1020 1030 1030 Yonniistn SAc T 320 31’* 32 320 Hails— AU Cst Line .... 550 54". 510 56 B Ac O 35"* 34 35 0 360 Cnn Pac 20'. 190 19 s * 20 Ch A: Ohio 460 45 7 8 56'* 46 s , Chl .Sc Ot W 7"a 7'* 71* 7 C M Ac St P ... 7 0 7"a 70 7"„ CM*St p pfd. 12 11 s a 11 5 a 11"* Chi N W 15 s * 140 15 15'* Chi R lilt 10 9 0 9"* 93* Delit A; Hud 971* 90 Erie 20 0 20'a 200 21 C.rt Northern ... 32-0 31'* 310 33 111 Central 410 • 410 410 420 K c Sou 21 20 0 20 7 a 20 0 Lou .V Nash . . 66'* 65", 660 64 0 K& T 160' -16'* 160 160 Mo Pac 10'* 90 10 93* Mo Pac pfd .... 14 13'* 13"* 14 N Y Cent 56 0 55 0 .55 0 57 N Y Clu &St L 24"* 24 NY Chi St L pfd 30 29 s * 29 0 30 N Y lint Ac Wes 140 14 14 14'* Norfolk Ac We5..177 1740 1740 175 Nor P: c 34'a 33 0 33 0 34 0 Penn R R 400 390 40 0 40 0 Reading 580 58 58 58 Sou Pac 37 0 36 0 36 s , 37'* Sou R R 300 29"* 29'* 300 Sou R R pfd ...38 37 0 38 Union Pac 128 1260 127"* 1280 Wabash 70 60 60 60 VV Maryland ... 120 140 140 14'* Motors*— Auburn 68 67 1 a 67 * 4 67 Chrysler 37'* 37 0 37 0 370 Gen Motors ... 33 0 32 0 32 0 33 0 Graham M0t.... -5 4‘* 5 4"* Hudson 15"* 14"* 150 15"* Hupp 6 a 60 60 60 Mark Truck . . .. 450 450 Nash 26 25 26 240 Packard .6 s"* 50 6 fjfo 5 Sludebaker 60 60 60 60 Yellow Truck 70 70 70 70 Motor Access— Bendix 20 0 19 0 20 200 Bohn Alum 510 51 ", 510 52 Borg Warner 21 20 0 20■* 20 Briggs 13 120 13 120 Buod Wheel . 50 50 50 50 Eaton Mfg ... 130 13". 130 130 Elec Auto Lite... 250 25 25 25 s * Hmui Hershcv . . 50 50 50 5" Mullins Mfg. 9 90 Murray Body. . 100 100 100 100 Stew Warner ... 80 80 80 80 Timken Rol 34 0 32 s * 34 340 Mining— Alaska Jun .... 24 0 22 0 24 0 22 Am Smelt 39 360 380 370 Anaconda 21 0 20 21 0 20 0 Cal A Hecla.... 9 0 80 9 8 0 Cerro lie Pasco. 31 7 a 290 310 29 Granby . . 150 14"* 15 14"* Ot Nor Ore 16'* 140 160 15 Homes - ckr Min. 250 239 250 240 Howe Sound . 260 25 26 4 250 Ins Copper. 9'* B’* 9 0 8"* In! Nickel 20 0 19 200 190 Ist Creek Coal . . 290 Kennecoit Cop.. 25 s * 24'* 250 24 s . Noranda Cop.. 32 s * 31 320 310 Phelps Dodge . 17 16". 160 16'* Pitts Coal 18 Tobaccos— Am Snuff. 47 Am Sum Tob . . 15 0 150 16' 150 Am Tobacco A . 88 0 87 Am Tobacco B . 910 910 91"* 91 Gen Cigar 430 43 43 43 Lice .v Myers It. 950 940 940 #s* Lorrlllar and . 240 240 24'* 240 IJevnOds Tob B. 490 490 49"* 490 1 guipment*— Allis Chalmers .49 0 49 0 49-"* 49". Am Car <Ss Fdy. 34 34:. Am loco . ... 36"* 360 360 360 Am Mach A- Fdv 21"* 210 210 210 Am Steel Fdy..'. 25 0 24 0 25 240 Bald Loco 160 160 16 s * 17, Burroughs 190 19". 190 19'* Case 3 1 96'* 95 96 97"* Cater Tract. ... 28 27 28 280 Coigat Palm Peet 190 190 190 19" Congoleum .20 190 20 190 Elec S. )r Bat... 510 50"* 510 500 Foste- Wheeler 23 22 0 22 0 32" Gen Am Tank Cr 410 40 0 41 410 Oen Elec .30 0 29 0 30 29". Gen R R Slg . 48 4" 0 47 0 48'. Ingsol Rand 680 Int Bus Mach.. 1390 1380 Int Harvester . 430 420 43". 44 Kelvinator . HO 11'* 11'* 12 Natl Cash Reg 210 20", 21 21 Proc A- Gamble . 440 430 44 430 Pullman Inc 58 56’* 57 57", Simmons Bed 23 s . 22 s , 23', 23'* Und Elliot 380 38 38 380 West Air B 350 34", 340 350 Wcstlrgh Elec .56 53 s * 54-'. 550 Worthington Pm 38 380 I’UHtle.— Am A- For Pwr 180 17 s , 180 18 Am Power & Lit. 160 150- 160 16 A T A- T 133 130 s , 132 1320 Am Wat Wks. 400 39 5 , 190 39 s * Brook Un Oas .. 83 0 83 83 0 83 0 Cnl Oas A- El . 26 s , 260 260 260 Cot O to E pfd,. .. ... 800 to m& sou 43. CtaBSOI C*as 60 0 59", 600 60'* Flee Pwr At Lit. 14 13 s , K 13’, EJ4,A I, pfd 26 0 26 s , 26", 27 InfclT * T 20 190 190 190 , tsM 2* * A... 23 22 0 220 230 -n*,T . 180 18", 180 19 ;gJiigftem.. .34 0 330 340 34>* GCT E ... 310 300 310 300 jfiServ NJ. 54 s * 53‘j 530 53*, gal Edison... 350 25 V 25 5 , 26V.

std Gas 20® 20 20® 20® Std Gas pfd .. 22 22® United Corp 13% 13® 13® 13® Ull Gas Imp ... 24 23 24 23® Ut Pwr A- Lit A. 7® 7® 7® 7® Western Union.. 62® 80® SO® 62® Rubbers— Firestone 24% 24® 24® 23® Goodrich 17® 16® '7® 17 Goodyear 40® 39® 39® 39® U S Rubber .... 15® 14® 15® 15® U S Rub pfd. .. 29® 29' 29® 29® Kel Spring 4® 4® 4® 4® Amusements— Crosley Radio... 14 11® 14 11% Fox Film 3% 3® 3% 3® Loews Inc 25® 24® 24® 24® Radio Corp 12® 11® 12 11 RKO 4% 4® 4® 4® Warner Bros 7 6® 8® 6% Foods— Am Sugar ... 65'® 65® Armour 'A' 6® 6® 6® 6 Beatrice Cream 25® 25® 25® 26 Borden Prod.. 3,6% 36% 36% 36® Cal Packing 38® 28® 29% 29% Canada Dry O A 24® 24 24 24% Coca Cola 101 ® 100® 101 101® Cont Bak A' . 80® 81 Crm of Wheat.. 37® 35 37® 34 Gen Foods 38® 38 ® 38® 38® Gold Dust 25® 25® 25'® 25% G W Sugar ... ... 30® Hershev ... 58 57® Int Salt 25® 25® 25® 26 Loose Wiles .. . 46® 40 Natl Biscuit 58 57® 58 58 Natl D Prod . .24 23® 24 24 Pet Milk ... 13® Puntv Bak 22 21® 21® 21% S Porto Rico Sug 35 ® 34® 35 35 Std Brands 27 26% 27 27® United Fruit 63® 63 63 63® Ward Bak A’ 17 Wrlglev 50 Retail Stores— Ass Dry Goods.. .. ... 15 Best A Cos 30® 29'® 30® 30 Gimbel Bros 7® Gimbel ufd ... ... 32® Or Un Tea 9® 9% 9% 9® Hahn Dept Sts.. 8® 8® 8® 8% Jewel Tea 44® 43® 43® 44® Kresge S S 16® 15® 16® 15® Kroger Groc .... 34® 34® 34'4 35 Mac.v R H 64 63® 64 64® May Dept St 30® 30® 30® 30® Mont ward 27® 27® 27® 28® Penny J C 46® 45® 46® 46V* Safeway St . ... 56% 55 55® 55® Sears Roebuck... 44® 43® 44® 44% Woolworth 50® 49® 50 49 Aviation— Aviation Corp... 13Vi 12® 13® 13® Douglass Air ... 16® 16® 16% 16% Curtiss Wright.. 3® 3% 3% 3% Curtiss Wr lA) 6® 6® Nor Amer Av. .. . 8 7% 8 8 United Aircraft. 38® 37% 37% 38% Chemicals— Air Reduction.. .. ... 94 93® Allied Chem 132 130® 130® 131® Am Com Alcohol 41® 40® 41® 4i' Col Carbon ... 67 67 Com Solvents ... 28% 27® 28 28® Dupont 82 80® 80® 82® Freeport Tex .. 38® 38® 38® 38® Liquid Carb . . . 38® 37® 37® 38® Math Alkali . ... 33® 32® 33 33® Tex Gulf Sulph 33® 33® 33® 33® Union Carbide. 45 43% 44® 44® U S Indu Alcohol 69 67® 67% 69 Nat Distil 103® 101® 101® 102® Drugs— CotV Inc 7® 7® 7® 6® Drug Inc 54® 52® 54® 54® Lambert . 38 373, Lehn & Ftnk 22% 21® 22% 22 Zonie Prod 8® 8® 8% 8 Financial— Adams Exp ... 13 12® 13 13® Allegheny Corp . 7® 7® 7% 8 Chesa Corp 50® 48® 48® 50® Transamerica .8 7® 8 7® Tr Conti Corp.. 8® 8% 8® 8® Building— Am Radiator ... 18® 173* 18® 18 Gen Asphalt .... 21® 21® 21® 21 Int Cement ... 37® 36® 37® 38® Johns Manville . 55® 543., 55 56® Libby Owens Gls 31® 30® 31 31® Otis Elev 23 22® 23 23 Ulen Const 4® 4% 4% 4® Miscellaneous— Am Bank Notes 28® 27® 28 28 Am Can ...... 94® 93 93® 95® Anchor Cap 22® 22® Brklvn Man Tr . 39® 38® 39 39% Cont! Can 63® 62® 63% 63® Eastman Kodak 85® 83® 84® 84 Owens Bottle . 86® 85® 88® 87 Gillette .. . . 17® 16® 16® 17® Olidden 16® 16® 16® 16% Gotham Silk . 15® 15® 15® 15® Indus Rayon ... 68® 66® 67® 67® Inter Rapid Tr. 9® 9® 9% 9 Real Silk Hose . 17 16% 16® 16®

Investment Trust Shares

(Bv Abbott. Hoppln Sc Cos.) —Julv 8— Bid. Ask. American Bank Stocks Corp.... 1.27 145 American Founders Corp . .1 87 200 American A General Sec (At.. 5.50 6.50 Basic Industry Shares 3 74 British Type Int Tr Sh 90 1.00 Collateral Trustee Shares IAI.. 5 25 5 62 Corporate Trust Shares 1 old >.. 2 45 ... Corporate Trust Shares (newt.. 2 67 2.73 Cumulative Trust Shares 4.55 .... Diversified Trust Shares A. . 6.50 .... Diversified Tr Shares 'B> 887 9.12 Diversified Trust Shares id.. 3.52 370 Diversified Trust Shares iD!.. 5.87 612 First Insurance Stock Corp ... 170 2.00 First Common Stock Corp 1.27 1.45 Fixed Trust Oil Shares At.... 950 ... Fixed Trust Oil Shares <B> 8.12 8.25 Fundamental Trust Shaaes iA> 4.70 .... Fundamental Tr Shares i8'.... 4.60 .... Low Priced Shares 687 ... Ma s Invest Tr Shares 20.12 21.86 Nation Wide Securities 3.90 .... North Amer Trust Shares (1953) 2 03 North Amer Tr Shares ,55-56 .. 2 74 3.10 Selec'fd American Shares 307 .... Selected Cumulative Shares. .. 7 64 7.74 Selected Income Shares .4 11 4 21 Std Amer Trust Shares . . . . 330 335 Super Amer Trust Shares tA> . 3 32 .... Trust Share- of America.. 332 337 Trustee Std Oil A< 550 5.62 Trustee Std Oil B- 500 525 U S Electric Light Sc Pwr A- 16 75 Universal True Shares 327 337 Marriage Licenses Harry John Barrett 39. of 1858 Talbot avenue, motorman. and Pauline Rosemary Campbell, 26 of 1858 North Talbot avenue, cashier. Thomas Bernhardt, 24 of' 1447 South state avenue, clerk, and Dorothv Davis. 24, of 1122 West Thirtv-second street, stenographer. Norman Clark. 21. of 31 South Sherman drive milkman and Geneva Sarah Christie, 22. of 1348 Bursdal parkway, hosiery worker Robert Livingston Smith. 38. Indian Rivet, Mich., hotel business, and Florence De \ ere Ervin 27. of 2449 North lUmoU street, housework.

STOCK PRICES IRREGULAR IN ACTIVETRADE Formation of Gold Bloc by Seven Nations Unsettles List.

Average Stock Prices

Average of thirty industrials for Friday, high 107.51, low 103 23. iast 105.35, up 37. Average of twenty rails 58 09. 55 48, 56 53 up .15. Average of twenty utilities 37.54, 35 91, 36 71, up .19 Average of forty bonds 87.47, up .16. Average of ten first rails 92 46, up .35 Average of ten second rails 75.84. o .20 Average of ten utilities 94.21, up .16. Average of ten industrials 87.36, up .30. BY ELMER C. WALZER United Press Financial Fditor NEW YORK, July B.—Definite formation of a gold bloc including seven nations of Europe on a gold or gold exchange standard unsettled the stock market in today’s short session. Gold mining shares moved up sharply while the remainder of the list was irregular. The averages were only fractionally changed. The Dow-Jones preliminary calculation showed: Industrial average. 105.17, off 0.18; railroad. 55.63, off 0.90; utility, 36.53. Sales for the day totaled 3,010.000 shares, against 2,791000 shares a week ago. Curb sales were 488,000 shares, against 333.000 last 1 Saturday Vast amounts of profit-taking were noted from the outset. At the same time gigantic buying orders were executed in a few' issues. Copper Group Strong The copper group was strong on a rise in the price of copper metal. Silver and smelting issues also were in demand. A larger than anticipated rise of 29,401 cars in the weekly car loadings report had no effect on the carrier shares, w'hich generally were low'er after their recent sharp gains. The loadings total for the w T eek ended July 1 was 634.075 cars, the largest total since October, 1932, and the best percentage rise over 1932 for any week in several years. Dealings in Radio Corporation W’ere sensational and reminiscent of the bull markets of 1927 to 1929. The first transaction in Radio involved 50,000 shares. Later the stock came out in blocks of 5,000 to 35,000 shares. It crossed twelve for the first time this year. Gold Shares in Demand Homestake Mining shot up 14 points to equal its high at 250 and gains of 1 to more thafi 2 points were noted in Alaska Juneau. McIntyre Porcupine, Dome Mines and Noranda Mines. Gold mining issues on the Curb also w'ere in heavy demand at. higher prices. The entire copper group moved up w'ith new' highs for the year in Anaconda, American Smelting, U. S. Smelting and Kennecott. International was active and strong. General Electric continued to meet good demand after its sharp advance in the late trading Friday. It crossed 30 for the first time this year, while Westinghouse Electric eased off. General Motors declined fractionally. After the close the corporation reported sales for the month of June to consumers at 101,827 units, against 85,969 in May and 56,987 in June, 1932.

Bank Clearings

INDIANAPOLIS STATEMENT ’ —July 8 — Clearings $ 1,734 000.00 Debits 4,578.000.00 Clearings for week 9.931.000.00 Debits for week 27,359.000.00 TREASURY STATEMENT —July 8— Net balance for July 6 $878,393,634.87 Mic. Int. Rev. Rects. for day 6.042,157.75 Custms. rects., mo. to date 2,796,273.03 New York Curb ()Bv Abbott. Hoppin Sc Cos.) —July 8 — Close Close Alum Cos of Am 88 Lake Sh Mines 41% Am Bev 2%Lone Star Gas.. 11 Am Cts & Lt B 5® Mount Prod 6 Am Cyan 181 ... 14 Natl Bellas Hess 4% Am & For Pwr. 12 Niag Hud Pwr. 13% Am Gas Sc El.. 45® Pan Am Airways 46® Am Sup Pwr . 7% Parker Rstprf ..52® Ark Nat! P lAI 2® Pennroad 6 Asso Gas IAI .. 2 Pioneer G Mines 14® Atlas Ut Corp. 18 St Regis Paper.. 6% Cent Sts E 1.... 3® Salt ffireek Prod 8 Cities Serv 43* Segal tock 1® Com Edison ... 67 S'd Oil of Ind.. 33® Cord 12® Std Oil of Ky.. 18® Eisler Elec .... I'iStutz 15® El Bnd & Sh... 37® Translux 2® Ford of Eng .. 5® United Founders 2® Ford Mot Can.. 13 United Gas 5® Hudson Bav M 9®'Un Lt & Pwr... 8 Imperial Oil . 14® United Verde .. 5® Irving Airchute 6® Wr Hargraves... 6% Inti Petrol 19® New York Bank Stocks Bv Abbott, Hoppin & Cos. —July 8— Bid. Ask. Bankers 65 65® Central Hanover 140® 142® Chase National 33® 33® Chemical 41 41® National City 37 37® Corn Exchange 61 62 ® Guaranty 319 321 First National 1.515 1.535 Guaranty 319 321 Living 22% 22% Manhatten &* Cos 32® 32® Manufacturers 19® 19® New York Trust 95® 96® Liberty Bonds Bit United Press NEW YORK, July 8— Closing Liberty bonds; 'decimals reuresent thirty-seconds l '. Liberty 3®s < 32-47) 102.24 Liberty Ist 4®s t32-47r 102.4 Liberty 4th 4®s -33-38) 102.27 Treasury 4®s 147-52) 109.30 Treasury 4s 144-54' 106.15 Treasury 3®s 146-56) 105 Treasury 3®s 143-47) ' 102 20 Treasury 3®s <4l-43 > March 102.11 Treasury 3®s (40-43) June 102 12 Treasury 3®s '46-49) 100.7 Treasury 3s 151-55) 99

Daily Price Index

Bit United Press NEW YORK. July B—Dun Sc Bradstreet's daily weighted price index of thirtv basic commodities, compiled for the united Press: '1930-1932 average. 100) Today 105.34 Friday 104.55 Week ago 95.81 Month ago 91.59 Year ago 74 38 1933 High 105.34 1933 Low 87.86 'Copyright. 1933, by Dun & Bradstreet. Inc.i

In the Cotton Markets

—July 8— CHICAGO High Low Close January IP 79 10.58 10.65 March 10 95 10.76 10 88 May 11 05 10 91 11.05 October 10.57 10.30 10.50 December 10.70 10 50 10.64 NEW YORK January 10.75 10.57 10 63 March 10 90 10.73 10.80 Mav 11.06 10.86 10.90 October 10 52 10 35 10 40 December 10.69 10 50 10 59 NEW ORLEANS January 10.59 10.53 10.53 March 10.83 10.69 10.70 May 10 96 10.84 10.54 July 10.08 October { 10 46 10.30 10.30 December 10.62 10.45 10.45

THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bids or offerings, but merely Indicate the approximate market level based on buying and selling inquiries or recent transactions —July 8— STOCKS Bid. Ask. Belt Rail A Stock Yards com 25 30 Belt Rail Sc Stock Yds pfd 6V 45 50 Cent Ind Pwr pfd 73, 13 16 Citizens Gas com 13 16 Citizens Oas Cos pfd i% 62 66 Home T & T Wayne pfd 736 40 Ind A Mich Elec Cos pfd 7%.. 68 73 Ind Gen Bervice Cos pfd 6®.. 61 65 Ind Hydro Elec Cos 7% 27 30 Indpls Gas Cos com 40 44 Indpls Pwr A Lit pfd 6'T-... . 59 63 Indpls Pwr Sc Lt Cos pfd 6® % 64 68 Indpls Water Cos Did 5®.... 87 91 No Ind Pub Serv Cos pfd s®® 37 41 No Ind Pub Serv Cos 6® 38 42 Nt Ind Pub Ser C’o 7% 41 45 Public Serv Cos of Ind pfd 6® 14 17 Public Serv Cos of Ind pfd 7% 37 41 South Ind Gas % El pfd 6<®.. 64 68 Terre Haute Elec pfd 6% 40 43 BONDS Belt R R & Stkyds 4s 1939. 88 92 Citizens Gas Cos 5s 1942 79® 83® Home T & W s®s 1955 95 99 Home T & T W 6s 1943 97Vi 101 Vi Indpls Gas Cos 5s 1952 83 86 Indpls Rys Inc ss. 1967 26 30 Indpls Water Cos 4®s 1940 ... 97'i 101 Vi Induls Water Cos 5s 1960 92 96 Indpls Water Cos. 5s 1970 91 95 Indpls Water Cos 5s 1970.... 98 102 Indpls Water Cos 5Vi a 1954 98 102 Kokomo Wat Works 5s 1958... 74 78 Lafayette Tel Cos 5s 1957 82 86 Muncie Water Works 5s 1939.. 90 94 Richmond Water Works 1957.. 83 87 Terre Haute Water Wk 5s 1956 82 86 Terre Haute Wat Wk 6s 1949.. 92 96 Traction Terminal Cos 5s 1957. 42Vi 47Vi Joint Stock Land Banks Bid. Ask. Atlanta 56$ 40® 43® Atlantic 569 46 49 Burlington 5% 37 40 California 5% 55 58 "Chicago 5% 26 29 Dallas 5% 53 56 Denver 5® 52 55 Des Moines First Carolina 5% 35 38 First Ft. Wavne 5% 52 55 First Montgomery 5% 38Vi 41Vi First New Orleans 5 % 37 41 First Texas 5% 49 52 First Tr Chicago 579 55 58 Vi Fletcher 9C- 69 73 Freemont 5% 58 61 Greenbrier 579 58 61 Greensboro 595 47 50 Illinois Monticello 5% 60 Vi 63 Vi Illinois-Midwest 579 43 46 Indianapolis 579 77 81 lowa 5% 57 60 Kentucky 579 61 64 Lafayette 5% 50 53 Lincoln 579 52 55 Louisville 5% 52 55 Maryland-Vlrglnia 5% 67 70 Mississippi 5%> 45 48 New York 5% 48 51 North Carolina 579 40 43 Oregon Washington 579 38 41 Pacific Portland 579 47 50 Pacific Salt Lake 579 50 53 Pacific San Francisco 579 50 53 Pennsylvania 579 5 3 5 7 Phoenix 5% 68 71 Potomac 579 50 53 •St Louis 5% 25 28 San Antonio 579 5 5 58 •Southern Minnesota 579 15 18 Southwest 579 4 1 44 Union Detroit 579 5 1 54 Union Louisville 5% 52® 56Vi Virginia Carolina 579 43 46 Virginia 579 5 3 56 •Flat.

Chicago Stocks By Abbott, Hoppln & Cos.”""

—July 8— High. Low. Close. Abbott Lab 38® 33 38® Acme Steel Cos 39® 37® 39® Adams Mfg 16® Adams Royalty ... 4 Allied Products 20 13® 18® Am Pub Serv pfd 10 8® 8® Asbestos Mfg 4% 4 4% Ass Tel & Tel 7% 7 Asso Telephone Util 12 Asso Tel Util ‘A’ pfd 2® Associates Inv Cos 45 43® 44 Automatic Washer ... 1® Bastian-Blessing 13 12 12® Bendix Aviation 20% 18® 19% Binks Mfg 4 2 2 Borg-Warner 21% 20® 20® Brach & Sons ... 8 Brown Fence & Wire A 8 Brown Fence & Wire B 3% 3® 3® E L Bruce Cos 17 16 16 Butler Bros 6 5® 5® Bcrghoff 17 13% 14® Canal Construction ... 2® Cent 111 Serv pfd ... 24® Cent Pub Util % Cent & So West 3% 3® 3% Chi V North Western.. 15® 15 15® Chicago Corp com 5 Chicago Corp pfd 34 32® 34 Chicago Yellow Cab. .. 14® 13% 13% Cities Service 4® 4® 4% Commonwealth Edison. 68 67 68 Cord Corp 12% 12 12® Crane Cos 11% ll 11® Crane Cos pfd 52 51 52 Decker & Cohn 2® Dexter Cos 8® Electric Household .... 12® 12 12® Godchaux B ... 7® Goldblatt Bros ... 25% Great Lakes Aircraft . 1® 1® 1® Greyhound Corp 1% 1® 1® Grigsby-Grunow 3® 3 3® Houdaille-Hershev 8.. 5% 5® 5% Jefferson Elec ... 10% Kalamazoo Stove 28® 28 28 Kentucky Ut Jr Cm pfd 20® Keystone Steel 14 Libbv-McNeil 7 6% 6® Lindsay Nunn Pub 4® 4 4® Lion Oil Refining Cos ... 8® Marshall Field 17% 17 17% McGraw Electric 5 4% 5 Mickelberrv's Food Pro 6% 6® 6® Middle Western Tel.. % ® ® Middle Western Tel ... % ® ® Midland United 1®; 1® 1% Midland United pfd 2® Modine ... 15 National Leather ... 2® National Securities Inv. .. 2® National Union Radio.. .. ... 1% Noblitt Sparks Ind Inc. .. ... 27 North American Car 7 North Amer Lt & Pwr.. 5 4® 5 Northwest Bancorpora. 9® 9® 9® Perfect Circle 26 Pines Winterfront 2® Prima Cos 26 25® 26 Process Corp 4 3% 3% Public Service 60 pfd.. 66® 66 66® Public Service 7% pfd.. .. ... 7® Quaker Oats 140 Railroad shares 1% Reliance Mfg Cos 16 Sangamo Elect com ... 8® Seaboard Utilities sh.. 1 74 % Sears Roebuck ... 44® Southern Union Gas Storkline Furniture .... 5® 5% 5® Studebaker Mai! ® % % Studebaker Mall A c .. ® Super Maid . . 4% Swift &Cos 20% 20® 20® Swift International ... 21® 28® 29 Thompson J R 12® 12 12 U S Gypsum com .. - 51% U S Radio & Tel .... 23 21® 22® Utah Radio . . 1% Utility & Ind 2® 2% 2® Utility & Ind pfd 6 574 5% Viking Pump pfd 25 Vortex Cup Cos 8® 8 8® Walgreen Cos com 20 19® 19® Ward Montgomery A ... 80 Wavne Pump com ... 1% Weiboldt Stores 12® Wisconsin Bankshares . 7 6® 7 Yates Machine . 2% 2® 2® Zenith Radio 2® 2® 2® Other Livestock BY UNITED PRESS CINCINNATI. July 8— Hogs— Receipts. 2.100: 1,080 direct and through; 140 held over: active. 10c higher on 180-300-lb. weights; top and bulk, good and choice. $5; lighter weights and sows mostiv steadv; 150-180 lbs., largely $4.100 4.65': 130-150 lbs. $3 250-'-; packing sows. $3 250 3 50. Cattle—Receipts. 275; calves, receipts. 50, Sheep—Receipts. 300 Births Boj's Darwin and Gertchen Linton. Coleman hospital. John and Marcella Stansifer. Coleman hospital. William and Elliott Sutton. Coleman hospital. Calvert and Lovie Vandercook, Coleman hospital. William and Katherine Wright. Coleman hospital. Kosta and Mvrtle Tanasovieh. 1615 Dawson. Fred and Lillian Moffatt, 2151 North Olney. Howard and Helen Billeisen. 3134 North New Jersey. Girls Albert and Anna Otto. 541 North Tibbs. Orville and Mabel Wheeler. 910 South Illinois. Deaths Thomas Dean, 85. 828 Woodlawn, arteriosclerosis Sarah A Griffin. 86. St. Vincent’s hospital. acute nephritis. Infant Lewis. 1 month. Rilev hospital, broncho pneumonia. Sam Kaffhauman. 59. 832 South Pennsylvania. mvocorditis. George H. Stark. 66, 504 South Luett, Interstitial nephritis Minnie E Walker 59. 2716 Franklin place, cholecvstitis Blanche McCorkle. 23. cltv hospital, chronic oephUti Ada Mills 55. 451 West Eighteenth, cerebral hemorrhage REORGANIZE OLD CLUB Thomas D. McGee Named Chief of Democratic Group. Re-organization of the Old Hickory Club has been completed, with Thomas D. McGee as president and George R. Brown as secretary and treasurer. The club, which plans to take active part in Democratic politics, has headquarters on the fifth floor of the Meeker, 250 South Meridian street.

SWINE STEADY TO NICKEL OFF AT CITYYARDS Cattle Hold Unchanged on Light Receipts; Lambs Lower. Hogs were steady to a nickel off this morning at the union stockyards, weights over 160 pounds showing the loss and underweights holding even with the previous range. The bulk, 180 to 350 pounds, sold for $4.50 to 54.75; 130 to 160 pounds, $3.50 to $4. Receipts were estimated at 3,500. Holdovers were 308. Cattle were mostly steady with light receipts of 100. Vealers sold off 50 cents, ranging from $5.50 down. Calf receipts were 150. Lambs were 25 to 50 cents lower than Friday’s average. Most sales were made at $8.25 down. A few sold up to $8.50. Receipts were 200. At Chicago hogs generally were 5 to 10 cents lower than Friday's average or about steady with the close. Good to choice 200 to 300 pound weights brought $4.50 to $4.60 with other weights scaled downward. Receipts were 10,000, including 8,000 direct. Holdovers were 1,000. Cattle ended the week very uneven compared with the close last week. Toda/ - was largely a steer run with medium and weighty steers in broadest demand. Prices ranged from the extreme top of $7 down. Receipts were 500. The sheep market was nominal with fat lambs showing $1 to $1.25 higher for the week. Receipts were 7,000. HOGS June. Bulk. Ton. Receipts. 30. $4.35® 4.50 $4.50 9,000 July. 1. 4.35@ 4.55 4.45 3,000 3. 4.50® 5.65 4.65 7.500 5. 4.45® 4.60 4.60 1,100 6. 4.600 4.70 4.70 9,000 7. 4.70® 4.80 4,85 9.000 8. 4.65® 4.75 4.75 3.500 Market. lower. (140-160) Good and choice....s 3.75® 4.00 —Light Weights—-(l6o-180) Good and choice.... 460 (180-200) Good and choice 4.65 —Medium Weights—-(2oo-220) Good and choice.... 4.70 (220-250) Good and choice.... 4.70® 4.75 —Heaw Weights—-(2so-290) Good and choice 4.75 (290-350) Good and choice ... 4.65® 4.75 —PacKing Sows — (350 down) Good 3.75® 4.10 (350 up) Good 3.65® 4.00 (All weights) Medium 3.50® 3.75 —Slaughter Pigs—-(loo-130) Good and choice 3.00® 3.25 CATTI.E Receipts, 100; market, steady. (1.050-1.100) - „ „„ Good and choice $ 5.50® 7.00 Common and medium 4.25® 5.50 (1.100-1,500) Good and choice 5.50® 7.00 Medium 4.25® 5.25 —Heifers—-(sso-750 Good and choice 5.00® 6.00 Common and medium 3,fJ® 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 (yearlings excluded) Good (beef) 3.00® 3.50 Cutter, common and medium.. 2.00® 3.00 VEALERS Receipts, 150; market, lower. Good and choice $ 5.00® 5.50 Medium 3.50® 5.00 Cull and common 2.00® 3.50 —Calves — (250-500) _ Good and choice 4.00® 4.50 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-800) Good and choice 4.75® 6.00 Common and medium 3.00® 4.75 (800-1.500) Good and choice 4.75® 6.00 Common and medium 3.00® 4.75 SHEEP AND LAMBS Receipts. 200; market, lower. —Lambs. Shorn Basis—(9o lbs. down) good and choice $ 7.50® 8.50 (90 lbs. down) com and med.. 5.00® 7.50 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.00 Other Livestock BY UNITED PRESS CHICAGO, July B.—Hogs—Receipts, 10,000, including 8,000 direct; slow and generally 5® 10c lower than Friday’s average or about steady with the close; good to choice. 200-300 lbs., $4.50® 4.60; top. $4.60; heavier weights scarce; 140-190 lbs.. $3.75® 4.55; pigs, $3.50 downward: odd lots packing sows, $3,650,4- fed lightweights above $4. Shippers. 300; estimated holdovers, 1.000. Cattle—Receipts. 500: compared close last week general market very uneven due to erratic holiday trade, but all classes closed strong to 25c higher; yearlings and light steers showing most upturn; Stockers and feeders snaring advance: largely beef steer run; medium and weighty steers in broadest shipper demand; advancing corn prices contributing factor in mid-week upturn; extreme top medium and weighty steers. $7; best 1.480 lbs.. $6.90; long yearlings. $6.55; prime heifer yearlings. $6: practical top. $5.65; most fed steers with weight, $5.25®6.25; light kinds. ss®6: grassers and short feds, $3.75®4.75. Sheep—Receipts, 7,000; today's market nominal; for week ending Friday, 17 doubles from feeding stations. 13,500 direct; fat lambs, $1®1.25 higher; yearlings 25®40c higher; sheep steadv: late buying active with native lambs at $8®8.50. and top at close $8.65; light receiuts principal factor in upturn; range lambs absent: choice Idahos at mid-week, $7.75 0 7,85; culls and natives, ,$405.75; largely $5 and upward to close. Week’s bulk yearlings. $6.2506.50; ewes. [email protected]. according to kinds. EAST ST. LOUIS, 111.. July B.—Hogs Receipts. 7.000, including 4.000 through and direct; market, steadv; top. $4.75: bulk 190-270 lbs., $4.65®4.75: 160-180 lbs $4 40 ®4.60: lighter weights dull; 100-150 lbs. quotable $2.7504.25; sows mostly. $3.65® 3 90; marks* with week ago. 35ft 40c higher Cattle—Receipts, 200; calves, 125; sheepi FORT WAYNE. Ind.. Julv B—Hogs Steady; 200-350 lbs.. $4.75; 200-250 bs $4.60; 170-200 lbs.. $4.50; 150-170 lbs . $4.25; 140-150 lbs.. $3.85; 130-140 lbs. $3.50; -00130 lbs. 53.25; roughs, $3.50; stags. $2 25; calves, $5.50; lambs. $7. Cattle—Steady steers, good to choice. $5®5.50; grass steers, good to choice $303.50; medium to good grassers. $3 g 3.50; fed heifers, good to choice. $4.500 5; grass heifers, good to choice. $4®4.25; medium to good s3®4common and medium. $3®3.50; cows, good to choice $2.50® 3; medium and good, s2® 2.50; cutters $1.7502; canners, $1®1.50; bulls, S2° a to choice. $303.25; medium to good, $2.5003: butchers, good, $303.50. EAST BUFFALO. Julv B.—Hogs—On sale, 300; market, slow: weak to 5c lower: asking. $5.10 for 180-200 lb. grades; no bids or sales reported. Cattle—Receipts, 25: firm: grassers, slow; cows, steady; compared with last week steers and heifers. 25 to 50c lower: strictly choice 1.065 lb. steers. $7.25: mulk medium dry fed steers, $5.25®6.50: common and medium grassers. $3.25® 4 75; good to choice yearling heifers. $5.50®6: fat cows mostly $3 0 4; cutter and low cutter grades. $1.50® 2: bulk bulls. s3® 3.50. Calves—Receipts, none; market nominally steadv with goo:) and choice mostly s6® 6.50; common and medium. s4® 6. Sheep—Receipts, none: market nominally steadv at week's sharp advance with top lambs selling for $8.85. eoual to the year's previous high; bucks discounted at $1; sheep, steady. PITTSBURGH. Julv B—Hogs—Receipts.B—Hogs—Receipts. 600: market, steadv; lower. 240-300 lbs.. 54.90® 5.05; 210-240 lbs:.. ss® 5.10; 180-210 lbs.. $5.1005.15: 160-180 lbs., $4.7505.15; 120-145 lbs., $404.50; 90-115 lbs.. $3.25® 4: roughs. $303.75. Cattle—Receipts. 75: market steadv. Calves—Receipts. 100; market, steadv; vealers. good. $5.75®6: vealers, medium. ss® 5.50; heavy and thin. s3® 4 S leep —Receipts. 150: market active, higher; iambs, medium to choice. 90 lbs., down. $7.7508: lambs, medium. 90 lbs., down. $6.50®7.25: lambs, medium. 91 lbs., up. $4.5005.35; sheep, weathers, prime $2 ®2.75: sheep, wethers, fair to good. $11.75 <B2: sheep, ewes, medium to cnoice. sl® 1.50. TOLEDO, July B—Hogs—Receipts, light; market, steady; heavy yorkers. $4 40® 4 65; mixed and bulk of sales. $4.65® 4.70. pigs and lights, $3®4.25: medium and heavies s4® 4.70: roughs. s3® 3 25. Cattle—Receipts, light: market, steady. Calves —Receipts, light: market, steady. Sheep and Lambs Receipts, light; market, steady. LAFAYETTE. Julv B—Hogs—Steady to 10c lower: 200-300 lbs. $4.55 8460 : 300325 lbs.. $4.50: 170-200 ibs $4.4004.50. 140-170 ibs. $3.500 3.80; 100-140 lbs $2.75 ® 3 25: roughs. $3 75 down; top calves. $4 50; top iambs. $7.50. KANSAS CITY. July B—Hogs—Receipts, 1.200; receipts, largely direct; market slow, s®loc lower than Friday's average; desirable 180-290 lbs . $4 25® 4.40: top $4 40; a few 150-170 lbs, $3 5004.15; odd sows. $3 50 0 3.75 Cattle—Receipts. 25 calves 10; for the week; Beef steers, yearlings and fed heifers. 15825 c lower, other killing classes of cattle steady to weak; vealers and calves steady to strong; Stockers and feeders steadv to 25c lower: week's tops, yearlings. $6.35; medium weight steers. $6.25; heavies, $6; yearling heifers, $5 50: bulk fed steers. *4 50® 5.75: gTassers, s3® 4; fat heifers and mixed yearlings, $4.50® 5 25: bulk Stockers and feeders. $3.50®4.50; flashy yearling feeders. $5.50.

Today and Tomorrow J The Decision to Limit Debate to Certain Subjects at London Is a Skillful Move. BY WALTER LIPPMANN

LONDON, July B.—The decision is not to adjourn the London economic conference, but to consider what discussions of what subjects it is necessary to adjourn. Thus the conference as a thing in itself remains in being. But the matters with which it is to deal are to be limited or postponed as seems necessary under further examination. It is a skillful diplomatic arrangement which may achieve the effect of a recess

without entailing the political consequences of recognizing that there is a recess. The conference goes on with the intention of finding out how it can go on. In its next phase it will not make decisions as to policies, but decisions as to what policies it can discuss. It will seek to find out what subjects it can explore. given the fact that the United States will not now' make commitments on monetary policy and that the gold countries will not participate in debates on money and on tariffs and other restrictions which are closely related to money. The old conference will, therefore, endeavor to provide itself with anew agenda. Whether this can be done nobody knows. But the majority have preferred to hang together and see what can be done. This particular way of confronting the essential deadlock does not, of course, resolve

the deadlock. Nevertheless the outcome may prove to be quite significant

n a tt THE gold countries have become observers. The United States, the sterling bloc., and the silver countries become the active participants in tne discussion. It appears that within the sterling bloc the dominions and the Scandinavian countries have succeeded in persuading the British government, which already was half-persuaded, to move very much nearer the United States and considerably away from the gold bloc. This new' alignment is a measure of the inherent strength of the American position. In spite of everything that has happened here in London, and in spite of all the episodes as between London and Washington, the example of the Roosevelt program and the energizing force of the American recovery steadily have been drawing the greater part of the world in the direction we have taken. In the test, the world outside of continental Europe, has preferred to associate itself with the forw'ard movement which has its center and its source in the President. a a a THIS was almost certain to happen regardless of the work of the conference itself. Time and the logic of events are in its favor and it is not w'hat W'e propose, but what we illustrate by our action at home, that matters. The net result of the conference thus far has been to impress the minds of men with the hope that the American experiment will succeed, and because of that hope, they will forgive much and will not dissociate themselves from us. More and more skeptics have become convinced that the depression can be overcome by deliberate national action in each country. The likelihood of “international” decisions on important questions is no greater than it was. But .such decisions never were likely nor very necessary at this stage. The likelihood of parallel action in a larger number of countries is considerably greater, though no one should underestimate the strength of the forces opposing it. By not adjourning formally, but by adjourning the topics that can not now be dealt with internationally, the force of the American example will continue to operate upon the imagination of the peoples and the governments. (Copyright. 1933)

Bright Spots

Bv United Press J. J. Newberry Cos., reports June sales of $2,900,299, up 11.7 per cent over, June, 1932. Walgreen Cos., reports rise of 4.2 per cent in June sales over corresponding 1932 month. American Telephone & Telegraph Cos. reports May operating income of $951,931, against $553,688 in May last year. United Gas Improvement system reports electric output for week ended July 1 of 68.813,922 kilowatt hours, rise of 16.1 per cent over like 1932 week. E. I. Dupont De Nemours Inc., posts advance of 10 per cent in monthly salaries of all salaried employes except those under contract. CHICAGO FRUIT MARKET Bn United Press CHICAGO, July 8. Apples—lllinois Transparents. $101.35. Raspberries—lllinois Indiana and Michigan reds $1,250 1.50; Indiana and Michigan blackcaps, 30c @l. Cherries —Michigan sweet, $1,500 1.75; sour. $1.2501.40. Gooseberries— Michigan, $1.2501.50. Dew Berries— Michigan. $1.5001.65. Currents—Michigan. $1.2501.50. Onion Market—Texas Crystal White, waxed. $1.7502.10: California Yellow $1.25 01.40.

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The City in Brief

Irving Boycourt, 15, of 1417 Deloss street, was removed to city hospital suffering from a possible fracture of the wTist after striking his arm on the bottom of the swimming hole in Bean creek near Beech Grove Friday. Leroy Mason, 7, of 2753 Hillside avenue, was removed to city hospital Friday with a badly swollen foot. His mother, Mrs. Evelyn Mason, told police the boy cut his foot a week ago on some glass. Industrial chemical developments at Niagara Falls will be discussed by R. J. Kryter at the luncheon of the Scientech Club at the Columbia Club. Monday. Harry \V. White, general secretary of the Indianapolis Y. M. C. A., will point out what can be done locally to improve conditions for boys in an address before the Rotary Club at the Claypool Tuesday. His subject will be “Advertising With Youth.” Frank J. Billeter, 5869 W'ashington boulevard, was bitten Friday, by a dog owned by W. R. Hill, Negro, of 2138 Valley avenue. A missionary institute will be held all day Wednesday at Brookside park in charge of Mrs. Charles Sedam. C. F. B. Bible class is planning a fish fry July 21 in conjunfction with the Christian Women Builders class which will hold a street fair at the same time on Shelby street between Prospect and Woodlawn avenues. U. S. COURT ORDERS ‘PRO’ BONDSMEN BAN Companies Accepting Services to Be Barred, Judge Says. Warning that bonding companies accepting professional bondsmen as indemnity will be barred from federal court was issued today by Federal Judge Robert C. Baltzell. The statement was issued when the judge learned that bond provided by a surety company for Frank Lee Trusty, liquor defendant, had been indemnified by a local professisonal bondsman. Trusty was given a four months’ jail sentence, suspended. Plea of Joseph Taylor, Negro, of Tere Haute, that his shoe repair profits were so small that he had to bootleg on the side in order to, pay for his machinery, failed to save him from a six months’ sentence. suspended, and SIOO fine. Baltzell revoked suspension of a six months’ liquor sentence given Joseph Leclercq, Tere Haute, as a result of liquor raid on a premises in which Leclercq was interested. $4,357,000 CONTRACT WON BY lOWA FIRM Ten-Mile 16-Foot Tunnel to Be Built Near Los Angeles. W. A. Durkin. Indianapolis, manager for the Walsh Construction Company of Davenport, la., has announced the awarding of a $4,357,000 contract by the Metropolitan Water District of Los Angeles to his company. The contract covers construction of ten miles of a six-teen-foot tunnel near Los Angeles.

WHEAT VALUES RALLY AFTER $ INITIAL SLUMP Prospects of Heat Wave Is Signal for Renewed Buying. BY HAROLD E. RAINVILLE United Press Staff Correspondent CHICAGO. July B.—Grains fluctuated erratically on the Board of Trade today but prospects of a heat wave in the northwest, which made Winnipeg strong, sent wheat prices up more than 2 cents a bushel net at the close. Generous rains in the corn belt weakened that grain. Trading was not as large as of late, but there was considerable profit-taking and evening-up lor the government report due Monday. The other grains followed wheat and corn. Oats, rye and barley were unsettled and mostly held around the previous close with oats lower but the other two grains higher with wheat and corn. Corn dropped sharply early but recovered to slightly over the previous close. At the close wheat was 2 to 2® cents higher, corn unchanged to Vi cent higher, oats ® to \ cent ? higher, rye 1® to 1% cents higher,, and barley ® to : ® cent higher. Provisions were up 15 to 30 points. Receipts were 26 cars of wheat 348 corn and 69 oats Cash corn was ® to 1 cent lower, oats 1 cent lower, and wheat unchanged. Chicago Primary Receipts —Julv 8— Wheat 1,495,000 Corn 1,619.000 Oats 646.000 Chicago Futures Range —July 8— Prev. Open High Low Close Close WHEAT— Julv .. .96*4 .99® ,96® 99 .96% Sept .99’ 2 .102® .98 7 a 1.01% 99 s * Dec . 1.02 104® I.OPi 1.04® 1.02® May 106 1,08% 105% 108® 106® CORN— July .. 60 .60® .59 .60 .60 Sept .. 63 64® .62 64 63® Dec . 67 .68® 66® 68® 68® Mav . 72 .73® .71® .73® ,73V*. OATS — Julv . . .45 .45® .45 .45® .45® Sept . 45® 47 .45® .46® .46® Dec .. .47® 48® 47® .48® .48® Mav . .51® .52® .51® .52® .52 RYE— Julv. . .76® .78® .76® .78® .76® Sept . . .79® .81® .79® .81® 80 Dec . 83® .85® .83® .85® 84® BARLEY — Sept .. .57® .59® .57® 59(4 .58® Dec . .61 .62® .fft 62® 62® LARD— July . 6.97 7.12 607 7.12 697 Sept. . 7.20 7.52 7.20 7.50 7.27 • Oct .7.40 7.67 7.40 765 740 NOV 7.80 7.80 7.80 7 80 7.50 ' Dec 7.62 7.92 7.62 7.87 7 60 Jan ... ... 8 20 8.05 .. BELLIES— July 7 70 7 55 Sept 8.05 8.20 8.05 8 20 8.02 Octl . 8.35 8.35 835 835 8.22 CHICAGO CASH GRAJN Bit Vtilted Perns CHICAGO. Julv 8 -Cash grain close; Wheat—No 2 mived. new. 98®c. No l hard. new. 99®c: No. 2 hard. new. 99c; No. 1 dark hard. new. OSI. Corn—No 2 yellow, 58®0 59c: No. 3 vellow, 57058®c; No 4 yellow 56057 c No 6 vellow. 480 r 52c; No. 1 white, white. 58c; No. 6 white, 50c; sample grade 39040 c Oats —No 2 white. 44®0 44®c: No 3 white. 42® 0; 44®c; No 4 white 41®042c. Rye—No 2. 78c. Barley—s2o 78c. Timothy—3.4ool 3.70. Clover—s 8011. TOLEDO CASH GRAIN Bit United Press TOLEDO. Julv B—Cash grain close; Grain in elevators, transit billing: Wheat' —No. 2 red. sl.Ol ®01.02®. Corn—No. 2 vellow. 63064 c. Oats—No 2 white, 48®0' 49®c. Rve—No. 2, 79 0 80c. Track prices: Wheat—No. 1 red. 98099 c: No 2 red. 970 98c Corn—No 2 yellow. *9 0 59®c: No. 3 yel'ow. 58058®c Oats—No. 2 white. 45® 047i. 2 c. No. 3 white. 450 47c. Toledo seed clpso; Clover —Cash. $7 75; October, SB. Alslke-—Cash, $7.75: August, SB. ST. LOUIS CASH GRAIN Bit United Press ST LOUIS. July B.—Cash Grain: Wheat —ln good demand. ®0 2c higher: No. I red 99c 0$ 1.00®: No 2 red. 98®c0$P. No. 3 red. 98099®c: No. 5 red. 97 0 97®c; No. 1 red. garlicky. 96®c. heavy; No. 1 red. garlicky. 99c, light; No. 2 red. 96c, medium: No 2 red garlickv 99c. light; No. 4 red. garlickv. 95c. heavy; No. 4 red. garlicky.* 97®c. light; No 5 red. garlicky. 92®c. heavy; No. 5, garlickv 95®c. light, musty; No. 1 hard. $lO 101: No 2 hard. $1.01; No. 1 dork hard 99®c0$l 00®: No. 2 dark hard, $1.00®; No. 1 mixed, 99®e. soft; Nv 1 mixed. sl.Ol. hard; No. 2 mixed 99®c, soft; No. 2 mixed. sl. hard. Corn—ln good demand. 10 2c lower: No. 6 mixed 56c. musty; No. 2 vellow. 58®c; No. 3 vellow;, 57®c; No 6 yellow. 25c, musty: No. 2 white. 600 6O®c. Oats—ln. fair demand. ®c lower: No 3 white, 46c; No. 3 mixed 44c: No. 2 red, 44®c.

Lippmann

Indianapolis Cash Grain

—July 8— -, Wheat—Strong: No 1 red. 01®092®cf No. 2 red. 9O®o9l®c: No. 2 hard. 9O®o 91 ®c. Corn—Bteadv: No. 2 white. 53®0 54®c: No. 3 white. 52® 0 53®c; No 2 yellow. 520 53c; No. 3-yellow, :51 0 52c No. 2 mixed 51 0 52c; No 3 mix'd. 50051 c. Oats—Steadv: No. 2 white. 42043 c; No. $ white. 410 42c. INDIANAPOLIS WAGON WHF*T Citv grain elevators are paying 85 cents for No 2 toft red wheat. Other grades on their merits

Produce Markets

Delivered in Indianapolis prices: Hens, heaw breeds over 4® lbs. 10c; Leghorn*! 7c. Broilers: Colored springers. 1® lbs. up. 14c: sortneers (Leghorn 1. 1® lbs up. 11c: barebacks. 7C: cocks and slags. 6c; I Leghorn cocks and Leghorn stags. sc. Ducks, large white full feathered and fat. i 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 egg*. 12c. 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. Butter —No 1 27® 28c: No 2. 26c Butfrfat— 19c. Quoted bv the W'adlev Companv BY UNITED PRESS CHICAGO, Julv B—Eggs—Market, steady; prices unchanged: receipts 10 703 cases: extra firsts 14® 014®c; firsts. 13® 014 ®c; current receipts. ll®012®c; dirties. 10®c. Butter—Market, steadv; prices unchanged; receipts. 11.773 tubs; specials. 26c,, 26®c: extras. 25®e: extra firsts 24025 c; firsts. 22®023®c; seconds, j 20021®c; standards 25®e Poultrv j Market, steady; receipts. 18 trucks; fowl*-, ll®c; Leghorn broilers 12012®c; LegI horns. 9 1 c: ducks. 60 10c; gays* 6®o 1Oc: turkeys. 10011 c; roosters. 8c broilers. 13 | ' 19c Cheese—Twins 130 13®c Longi horns. 13®013®c. Potatoes—On track, j 201. arrivals. 138; shipments. 1 001; market I slightiv stronger: Missouri and Kansas sacked Cobblers S2 7*o* 85; Virginia sacked Cobblers. $3 It 7 3 15. NEW YORK Julv B—Potatoes—Weak; Long Island. $4 50 0* per barrel: New Jersey. $1 75: southern, tl 250 5 per barrel; Bermuda. $8.50 per barrel. Sweet potatoes' —Firm: jersev basket. 55c$l 25. Flour— Quiet: springs, patents *6O 525 per sack: Pork—Quiet: mess. sl9 per barrel LardFirm; middie west spot. $7 250 7.35 per 100 lbs. Petroleum—Firm; New York refined. 17c: crude Pennsylvania $1 170 170 per barrel. Grease—Steady; brown. 3®03%c P*7 IJV : yellow 3®03%c per lb; white. 3 3 4 0*' 2 c per lb Tallow—Steady; special to extras. 3®o3®c per !b. Common hides —Nominal Hides—City packer, firm; native steers. 13c: butt brands. 13c; Colorados. 12®c. Dressed poultrv—Firm; turkeya, 14 0 22c; chickens. 25c; broilers. 130? 21c. fowls 10016 c; Long Island ducks 29 0 25c. Live poultrv—Firm geese 608 c; turkeys. 10015 c: roosters, 10c; ducks. 15c. fowls. 10018 c: chicken*. broilers 130 23c. Cheese—Firm state whole milk, fanev to speciais. 20021 ®c: voung Americas 15> 4^ 18 1 Butter—MarArm: creamery, higher than extras, 26®02ic; extras. 92 score 2Sc; first*. 90 to 91 score. 24®025®c; first. 88 to 89 score 23024 c; seconds 21®0 22®c Eggs —Market irregular; special packs, including unusua: hennerv selections 17® 0 20®c: standards. 16®’517®c. firsts. l 0 15®c; seconds. 140 14®e. mediums 13®0 !4®c: dirties. 13®c. checks !2c: white eggs. Pacific coast fresh’, she!! treated, .anev. 24®0 25c. Pacific coast standards, 23®024c: Pacific coa*t. shell treated, mediums. 21c. In the Air Weather conditions at 9 a. m.: West wind, 9 miles an hour; temperature, 80: barometric pressure, 29.94 at sea level; general conditions, overcast; ceiling, estimated; 8,000 feet; visibility. 12 miles.

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