Indianapolis Times, Volume 45, Number 52, Indianapolis, Marion County, 11 July 1933 — Page 13

OTTLY' ii; 19331

Steel Capacity Figures Questioned: Maximum Said to Be Less Than Generally Assumed. BY RALPH HENDERSHOT Time* Special Financial Writer

The American Metal Market presents some rather interesting figures on the steel industry in its current issue. It states, for instance, that current operations in the business are at 64 per cent of the record high production in 1920 and that they are 76’.. per cent of the average production in the very active seven-year period through 1929. And if cur-

rent operations were based on the amount of modern plant capacity the ratio would be around 70 per cent, it adds. Steel men, like those in the railroad Industry, it seems, have been inclined to forget that plants can become obsolete. They hat'e taken the capacity figures of the American Iron and Steel institute prepared in 1925 and have merely added the amount of additions since in arriving at present capacity. The total is now assumed to be more than 68,000,000 gross tons of ingot a year, whereas the American Metal Market places the maximum production of efficient plants at about 50,000.000 tons. The publication presents its figures as proof that an increase in steel prices is badly needed. It argues that if the steel companies can do only a little better than break even on a production basis of 70 per cent of capacity something should be done about it. Os much more importance, however, assuming the figures to be accurate, is the fact that our steel capacity today is 5,000.000 tons less than it was in

Ralph Ilendershol

1925. This becomes rather startling when it is taken into consideration that most people had assumed that the steel business was overbuilt. a o a Stockholders Are Interested Going a step further, the figures also are of vital interest to stockholders. Despite wage cuts and other efforts to reduce operating expenses the steel-producing concerns are doing but little more than break even on operating costs at the relatively high operating rate. How are the companies owning the bulk of the obsolete plants to show real profits on their stocks even if the volume oi trade improves? It should be remembered, too, that the aggregate capitalization of the steel companies Is much higher today than it was ir. 1925. a a a Filing Financial Reports Wall Street is likely to be camping on the doorstep of the federal trade commission during the next few weeks. The new securities act now is in effect, and the department has been flooded with financial statements waiting to be qualified. While many people in the Street are opposed to the measure and have had their attorneys working day and night to find loopholes in it, no chances are being taken on openly violating it. It hurts probably more than anything else to reveal the commissions paid on deals, so it may be assumed that a few private “understandings” may be entered into in that respect.

New York Stocks (Bv Abbott. Jloppin & Cos.) ——

—Juyl 11— Oils— Prev. I High Low 11:00 Close Amerada ... 3 8 1,2 32 , Burnsaall 10 a Cont ol Dei ••• 1> 4 */. /4 i f 1 ‘ Houston mew) * ,2.2 Houston (old) . Indian Rig .;•• ,r * Mia Cont Ret ... ... ••• I? I®, umo Oil lo la/ IoV 10/ Pet Coro .a; - }%' 8 ,2* ! Fnillips Pet 10 4 lb % IB 1 /* 10* Pure Oil 1° 8 JJ. * Koval Dutch ; . ••• .• 5J 8 i Kba Oil 31‘/2 31 31 31.4. Knell Union a * J"* Sunnis Ret S boc^va®* 1 .V.V.V.. 'm% 'ii ijjj ij:? fa 00l Cal. 38 * 38 8 3b h 3b . ZZSf an **■* %■; 2 |j^ Tidewater Assn „ a/ * *”, Un OH ol Cal 22,2 2 “ 8 AnW Mills.. 30 1 2 30% 30VS 20% Beth steel •*% *•>'■ B 43 * 3 ?..“ co! rtiel iron. lb’s lb 1 * duo oieei 28 * * 20 * * uuii Kts'r'uel lniuno Luuiuni steel h i y b McKeesport Tin 00 Hep Iron & Steel 10 * 2U * - * ‘J Hep l <ss St Pin.. *-“: 2 3 0 , U K Smelt 4 ?/,* 2b-2 \aiiaaium 28 21 * l Auaiana .*•••• *’ * n< a 20 v* sis;™# c 1:: Atdnlson" 75 72-* 73* 74,s bVo une :::. §*. ‘{js 331. 3^ Can Pac 19 18 " 8 46 Chi i Ot'V.V. 6% 6% u% 6* C M & St P • • • • ••• 105 11,4 lPo ' d m i -13V* \l: IV* chi r i lS 7 l; 'Pid••• 1478 L)ela Hud.. .. 'ig% 20V* Erie i J * 31*4 Grt Northern. ■ aqu 39'4 40 111 Central .... 40 39*4 aa * K C Sou 64 64 i a Lou & Nash.... • ■ ,c 15J 4 MK & T..N.... 15,s 15 15 ig Mo Pac liit, 12'4 12 V* 12 3 * Mo Pac pfd .... 12 * iv* i* 4 54 , N Y Cent .. . • 53 1 2 52* M 32% N Y Chi 4StL .. ••• 2* . 3* N Y Cll & St L O • ■ ;?, 8 oS N Y New Haven 31 3l 2 32^^ N Y Ortt & Wes .. l ig 34 113 Norfolk & Wes .. 31% Nor Pac ■ • '3714 '3714 38% Penn R R 3,12 27 * 5 g Readme ii, 4 ii. 'if,'. 35 3 * Sou pc „ ?8 3 S 27 3 ! 27 3 i 28 3 4 Sou H R >y- * 38 7 4 Sou R R pfd.. •• 1271i 125'* Union Pac 7 Wabash . 'ii 'ii 14 3 s W Maryland .... 1 43 " 14 14 Motors— g 5 , 2 66 67 1 2 Auburn “”2 35 36 , 0 Chrysler 3B 32ia Oen Motors 32 4 3 * 5 ,. t Graham Mot ... 8 14 , s 14 s B Hudson 14 2 57." 57 8 6 Mack Truck *_ 26 s * Packard ’• 5 5 4 5 5 Reo ~ g 1 a 6*4 Sturiebaker .... # * b * 7 Ti* Yellow Truck Motor Access— 19 ,. 19 i; Bendix Bohn Alum 50 • 20 Borg Warner ... 12 12 t., Briaas 125 4 ste 5 t e Budd Wheel 135 13 3, 4 Eaton Mtg ... ■•• • 8 JJi 4 Elec Auto Lite.. 24V 24'. 24 4 - 4 3 H Hershey 04 g3 Mullins Mfg .. ■■ , ’io'j io’* 4 Murray Body . 10 3 . 10'* 10 * m * Stew Warner •• “, 8 Timken Rol 32'* 31 32 3 * Al”k n a"smi 23'. 22', 22'* 33*4 & B*. 58; 88 1 Cerro de Pasco . 30'* 30 3O 4 31 Gt Nor Ore • • ■ 16 4 HomesUke Min 3?,. Howe Sotind Q • R , • 3 * 9i , Ist SXY.tS I>* 4 lU if* Kenne7oU C Cop. 24 23 5 . ’24 24 3 , Noranda Cop .. .. •. 31 > 32* Phelps Dodge .. 16'4 15* 4 15- 4 164 Pitts Coal Tobaccos — .. Am Snuff V 3 * * 3 ' Am Sum Tob 1* Am Tobacco (A) • 81 > 2 Am Tobacco (B) 90 7 , 90'* 90'. 90 7 . Gen Cigar 43 42-a 1 1c At Mvers <B) 94 92 5 8 Lorrillard 24 23 s . 23’. 23 s . Reynolds Tob B 49’j 48 s . 48 s . 49 l . Eouipments Allis Chalmers.. 24 s * 24 24 24 J 4 Am Car * Fdy .. . 31 4 4 33 Am Loco 34'.33 3 .33 3 4 34 ■ Am Mach & Fdy ■ • 21 Am Steel Fdv ... 24 24 Bald Loco ...... 15 s . In'* la'j 16 Burroughs ... 19 18’, 19 19'. Case J 1 9s 3 . 94 s * 95 3 4 95*2 Cater Tract . 28 1 . 28 28 28H Colgat Palm Peet 19'2 Congoleum 22S 21 s * 21 3 . 22'. Elec St-or Bat .. . . 52‘ 2 54 Foster W’heeler. . .. ... 21' 22 Gen Am Tk Car 40 3 . 40'2 Gen Elec 28’. 28' s 28 3 . 29 Gen R R Sit 44 tngol Rand M Int Bus Mach.. . . 137'2 Int Harvester.. 43' 4 41 43 42% Kelvinator II 3 . 11'* Natl Cash Reg 20 20' 4 Proe Ar Gamble 43V. 44'. Pullman Inc 53 52 53 54 s . Simmons Bed .. 22 1 * 22*. 22U 23 Und Elliot .33 3 West Air B . ... S4' 33'2 33', 34 Westingh Elec . 53% 52 s , 52 3 4 53'* W’orthington Prr.p .. ... 36 36 5 . It Hi tie*— Am ti For Pwr.. 18 s . 18'. 18 s * 18'. Am Power ft Lit 17 s , 17', 17 s * 17 s . A T Ar T 131% 130 s , 131% 131’2 Am Wat Wks . 40'. 39% 40', 40> Brook Un Gas 83 82% 82% S3’* Col Gas & Elec 26% 25', 26% 26' 2 Col G * E pfd 80’j Com & Sou s s , s'. 5% s s . Consol Gas 61 s , 60', 61', 61 = , Elec Pwr * Lit 144 14', 14% 14'* E P A- L Pfd 27 s . Int T * T 18'2 19% 19 s , 1 3 * Lott GAEA 23 Nat Pwr Lit 19 18’, 18’. 19% North Amer . . 35', 34*. 35t, 351, Pac OAr F 30% 30', 30>, 31 Pub Serv N J s*', 55 So Cal Edison . . M 25', 25', 26 Btd Gas 10 s 4 30 s , Std Oaa nfd 2 1 "* United Corn .. is', 13'-, im n>, tin Oh Imp 23’, 2323 5 , 23 s * t’t Pwr ft Lit A 7 s , 7', 7', 7 s * Western Union.. 61 60'i 61 61’, Robbers— Ft rest oft* 24% 24 s . 24 s , 24 \ Goodrich 17 16 s , 16 s , 17% Goodyear 3>4 38 38 38‘, V, s®? b * r , J 14% 14 s , U 8 Pub Dfd 28tt Kel Soring J 4 *

Wall Street-

Amusements—- [ Crcsle.v Radio 12 7 s 13 3 s i i*ox Thea- 4 3 / 4 4% 4’% 4 s . i Loews Inc 2’ 26% 26V2 27‘/ 2 I Radio Corp ... 11% 111. 11% 12%, RKO 5% 4 7 /. 5 5% I Warner Bros ... 8 7% 7% 8 | Foods— A Sugar 65 65 I Armour A 6% 6‘/a 6V2 6% Beatrice Cream 25% 'Borden Prod... 36% 35% 35% 35% ! Cal Packing ... ... 28% : Cana Dry G Ale 25 25 'Coca Cola 101 101% Cont Bak A 17% 16% 16% 16% 1 Corn Prod 79 78% 78% 79% Crm of Wheat .. ... 37% 39 Gen Foods ... .. 37% Gold Dust 24% 24Vi 24% 25% ! G W Sugar ... 29% 29V. 29% 30 Hershev 58 Int Salt 26% Loose Wiles ... ... 41 Natl Biscuit 58% 57% 57% 57% Natl D Prod... 23% 23% 23% 23 s * Pet Milk 13 Purity Bak ... 23% 23% S Porto Rico Sug 34'i 34 34 35% Std Brands ... 27 26% 26% 27% United Fruit 61% 1 Ward Bak A 19 Wrigley 50% Retail Stores— Ass Dry Goods 14% Best At Cos 29% 28% Gintbel Bros ... 6% Gr Ull Tea . . ... 9% Hahn Dept Sts... 8 B*4 8% 8 1 . Jewel Tea ... ... 42% Kresge s S 16% 16 16 16% Kroger Groc 34 33% 33% 35 Macy R H 63 62% May Dept St 30% Mont. Ward .... 27 26% 27 27% Penny J C . . 45 V* 45 45 46 Safeway St . . 54 54% Sears Roebuck .. 43% 42% 43V 4 43% Woolworth 49% 48% Aviation— Aviation Corp... 13 12% 12% 13 Douglass Air ... 16% 16% 16% 16% Curtiss Wright ... 3% 3% Curtiss Wright A . . .. 6% 6% Nor Am Av ... 7% 7% United Aircraft. 37% 36% 37% 37% Chemicals— Air Reduction .. . 93% 94% Allied Chem .128 127% 128 130% ; Ant Com Alcohol 44% 43% 43% 44% | Col Carbon ... 65 65% 1 Com Solvents ... 29% 28% 28% 30 ! Dupont 79% 78% 78% 80 Freeport. Tex ... 37% 37 37% 38% ! Liauld Carb ... 38 37% 38 28% 'Math Alkali ... 32 31 s * 31% 33% Tex Gulph Sulph 32% 32% 32% 33% ! Union Carbide ... ... 44 U S Ind Alcohol 74% 73 74% 74% Nat Distil 105% 104% 105 105% Drugs—- ! Coty Inc 6% 6% 6% 7 Drug Inc .... 52 s * 52% 52% 52% Lambert 37% 37'% 37Vi 37% Lehn & Fink 22 22% Zonite Prod ... 7Vi 8% Financial— Adams Exp ..... 12% 12V. 12% 12% Allegheny Corp.. 7 6% 6% 7% Chesa Corp . . 47% 46% 46% 48_ Transamerica .. 7% 7% 7% 7% Tr Conti Corn.. 8% 8% 8% 8% Building— Am Radiator... 17 s * 17 s . 17% 177a i Gen Asphalt 21'4 20% 20 3 a 21 ! Int Cement 37% 37 Johns Manville. . 53% 52 s * 52% 54% Libbv Owens Gls 30% Otis Kiev 23 22% 22% 23 Ulen Const 4 s * 4 s 8 Miscellaneous—lAm Bank Note.. 26% 26% 26% 26% Am Can 93% 92% 93% 93% Anchor Cap.... 22% 22% 22% 22% Brklvn Man Tr 38% 38% 38'2 39 1 Conti Can 63% 62% ! Eastman Kodak. 82 5 4 82 % 82% ®2% | Owens oßttle 87 88 ; Sudden ::::::: w% •% ie% j Gotham Silk JJf* Indus Ravon 66*2 Inter Rapid Tr 9V B 3 * BJ4 9 Real Silk Hos**.. 16V2 15 7 s 16 l 2 Investment Trust Shares tßv Abbott. Hoppin & Cos.) —July 11— Bid. Ask. Amer Bank Stocks Corp 126 1.44 Amer & General Sec A 5.50 6.50 Basic industry shares 3.60 ... British Type Inv Tr Sh 84 90 Collateral Trustee shares A.. 5.25 5.t>2 ' Corporate Trust shares (old).. 2.40 ... Corporate Trust shares (new) 2.62 2.6 J ! Cumulative Trust shares ..... 4.52 ! Diversified Trust shares "A .. 6.d0 i Diversified Trust shares "B .. 9.00 9.*.j> ’Diversified Trust shares - C .. 3.54 3.59 I Diversified Trust shares "D .. 5.62 5.8* First Insurance Stock Coro.. 168 198 hirst Common Stock Coro. I.2t> 1.44 I Fixed Trust Oil shares % .. 9.62 Fixed Trust Oil shares 'B .. ~ 8.i5 Fundamental Trust shares A 4,/u Fundamental Trust shares "B 4.5 U Low Priced shares 6..5 ... Mass Inves Trust shares 20.04 21. G ; Nation Wide Securities . 4.00 • • . North Amer Trust shares (1953) 2.00 • • North Amer Trust sliar .55-56) . .3 J.ua ! Selected American shares ... Ju* Selected Cumulative shares.. ■ .65 ■ Selected Income shares 4.08 *lB Std Amer Trust shares . ..... 335 a- 4 ' Super Amer Trust shares A J 35 Trust Shares of America 3.30 3.35 Trustee Std Oil ’’A b ” 2Aq Trustee Std Oil "B 4 2? 500 U S Electric Light &* Pow A 16 <a ■■■ Universal Trust shares.. 3 30 Other Livestock EAST ST. LOUIS. }ll.. July Jl.—Hogs— Receipts. 11.500. including 000 direct. mrU^.4^'so^: w^3.£;^at^: | ers opened steady, tows s ; ba ?> • h f p hpr strong, sausage bulls, strong to *sc higne with top S3 SO. vealers were Übcnauged with top $5.25; a tew steers. S4.bott6.lb. mixed yearlings and helfers sstt6, top ! heiteis. $6.35. cows, *2.sofe3■. , i0 "-^n. ! ;ei's $1.50-1 1.75. Sheep—Receipts. 6 000. market, not vet established; asking s jtoJis prices; packers talking lower; probable I bulk of iambs $7 75/%;. lambs. 90 lbs. 1 down, good and choice. $7.50. 8.25. com ' moil and medium. s3.sott ' So. 'ea. ling we.hers. 90-110 lbs., good and choice. Btt 6.75, ewes. 90-150 lbs., good and choice, fa1.50%i 2 75, a*l weights common ana med,ULk\fcl!<?ND. July 11.-CUle-RecciPL). 22a; market active and stronger w.tn good i demand on cows bulls ano slcer A'j* a ,, sold earlv. fancv drv lea vearungs. $0.25j 6.75; choice to prime yearling heifers. $5 '.*5,25; prune yeaning bulls. s*.so!ua. Ei.me butcher .ows. $3 i3.ao. Galtea— Receipts. 000, market, active and higher on uuesi ! vealers. lew sola at ST.SO tOO- med-Um weight more slowly; £hoice to prime $6 -.17.50; choice to good. *6*17.90. wr to good. ss 'ii 6; common. $4.50 down, “deep —Receipts. 1.000; market, slow but choice wethers. $2 50m 3 25; choice ewes, handv weight. S2v3; choice spring .amos. $7 50 V 8.25; choice to .good. $5.5(Hi6.50. Hogs—Receipts. 1.500 market advanoed 10 cents, all sold earlv on good local de I rnand; heavies. *4.85; choice butchers. Id®* i 250 lbs.. $4.89: Digs. 53.25U3.75.

STOCK MARKET MOVES OFF IN ACTIVESESSION Upturn in Dollar Weakens List: All Sections Show Losses. Average Stock Prices Average of thirty industrials for Monday high. 105.87. low 103.12, last 104.08. off 1.07. Average of twenty rails 55.47, 54.10, 54 73. oil ,94 Average of twenty utilities 37 86, 35.89. 36.38. uo .35. Average of forty bonds 87.55. off .31. By ELMER C. WALZER United Press Financial Editor NEW YORK, July 11.—Stocks declined today as the American dollar made a sharp recovery in terms of foreign currencies. Net losses of fractions to more than a point predominated at the outset, with trading moderately active. Utilities in demand Monday for a time, lost ground. Rails were mixed. Alcohol shares ruled firm. Oils eased, as did amusements, foods and motors. The first sale of Radio Corporation was a block of 20,000 shares at 11, off 118.l 1 8. That stock has been heavily traded recently at rising prices and today’s initial block represented bunched profit-taking sales. American Can declined to 92%, off 1 *4; Auburn Auto, 66 1 2, off 1; Columbia Gas 25%, off 1; American Telephone 13CH4, off a i, and Allied Chemical 127 Vi, ex-dividend, off 1. Fractional losses were noted in Union Carbide, Corn Products, Loew’s, Standard Oil of California, Consolidated Gas, Du Pont, Texas Corporation and Montgomery Ward. United States Steel opened at 6394, off lte, on 1,000 shares.

Bank Clearings

INDIANAPOLIS STATEMENT —July 11— Clearings $2,258,000.00 Debits 5,362.000.00 TREASURY STATEMENT —July 11Net balance for July 8 $875,005,469.54 Misc. Rev. Rects. for day.... 5,202.912.19 Customs rects. mo. to date 4,730.575 81 New York Curb (By Abbott, Hoppin <Sc Cos.) —July 10Close! Close. Alum Cos of Am 86% Lake Shore M.. -0->4 Am Bev 2%:Lone Star Gas.. 11 Am C P & L B 5% Mount Prod ... 6 Am Cyan B ... 14% Natl Bellas H 4%] Am & For Pwr 12% Niag Hud Pwr.. 13% Am Gs & El.. 46 Pan Am Air.. 45%; Am Sup Pwr... 7% Parker Rstprf... 57% Ark Ntl Pwr A. 3 jPennroad 5% Ass Gas A .... 2 iPioneer Gld M.. 13% Atlas Ut Crp. 18 JSt Regis Paper. 6% Can Marconi.. 2%;Salt Creek Prod 7% Cent Sts El ... 3 7 Segal Lock 1% Cities Serv ... 4%'Std Oil of Ind.. 33% Commn Edison 70 i Std Oil of Ky.. 18% Cord 12 IStutz 17 Derby Oil 2%|Translux 3 Eisler Elec .... l%;United Founders 3 El Bnd & Sh. 37% United Gas ... 5% Ford of Eng ... s%jUn Lt & Pwr A 8% Ford Mot Can. 12% United Verde .. 5% Hudson Bay M 9%-Util Pwr & Lt. 2% Imperial Oil ... 14%'Woolworth Lmtd 19% Irving Airchute 6%;W Hargraves.. 6% Inti Ptrol 18%: New York Bank Stocks (By Abbott. Hoppin & Cos.) —July 10— Bid. Ask. Bankers 65% 66 Brooklyn Trust 140 145 Central Hanover 140% 142% Chase National 33% 33% Chemical 41 41% National City 37% 37% Corn Exchange 60% 61% Continental 16% 17 Empire 23 23% FiFrst National 1,510 1,520 Guaranty 317 319 Irving 22% 22% Manhattan & Cos 33 33% Manufacturers 19% 20% New York Trust 96 97' Liberty Bonds NEW YORK, July 10. —Closing Liberty bonds: (Decimals represent thirty-seconds). Liberty 3%c (32-47) 102 23 Liberty. First 4%s (32-47> 102.3 Liberty. Fourth 4%s (33-38) 102 25 Treasury 4Vis (47-52) 109.29 Treasury, 4s (44-54) 106.12 Treasury 3%s 146-56) 104.26 Treasury 3%s (43-47) 102.22 Treasury 3%s (41-43) March 102.10 Treasury 3%s (40-43) June 102.10 Treasury 3%s (46-49) 106.6 Treasury 3s (51-55) 98.31 Daily Price Index By United Press NEW YORK. July 10.—Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United (1930-1932 Average, 100) Today 106.68 Saturday : 105.34 Week ago 99.81 Month ago 92 63 Year ago 75.15 1933 High (July 8> 106.68 1933 Low (Jan. 20) 67 86 (Copyright. 1933, Dun & Bradstreet Inc.)

In the Cotton Markets

"—July 10— CHICAGO High. Low. Close January 11.23 10.89 11 20 March 11.35 11.10 11.35 May 11.48 11.23 11.48 July 10.60 1025 10.60 October 10.98 10.61 10.95 December 11.16 10.59 11.15 NEW YORK January 11.18 10.78 11.14 March 11.32 10.93 11.30 May 11.46 11.10 11.44 Joulv 10.60 10 26 10.60 October 10.93 10.53 10.89 December 11.10 10.70 11.07 NEW ORLEANS January 11.08 10.81 11.08 March 11.27 10.93 11.23 May | 11.43 10.77 11.37 July 1 10.53 10,34 10.50 October 10.90 10 50 10.86 December 11.07 10.68 11.03 Bright Spots Bv United Press Associated Gas and Electric system reports June electric output of 1 222,498,923 kilowatt hours, an in- : crease of 15.9 per cent ever June, ! 1932. i Truscon Steel Company increases salaries of its office workers by 10 per cent. Olds Motors Works reports its June sales were 135 per cent above June last year. Graham Paige Motors Corporation reports second quarter sales 1 exceeded like 1932 period by 18 per 1 cent. NEW YORK COFFEE FUTURES —July IC—RIO High. Low. Close. Januarv 6.30 March' 6 39 6 29 6.32 i Mar 6.33 6 20 6.32 i July 6.15 6.10 6.10 I September 620 6.07 6.10 i December 6.32 6.13 6.26 SANTOS January .... 8.43 March 8 44 8.28 8.43 I May 8 44 8.20 8 44 I July 8.46 8.38 8.44 ! September 8.45 8.28 8.44 ' December 8.46 8 26 8.44 Plumbing Permits Charles Walt*. 1415 Barth, one fixture. John Florence. 105 North Illinois one fixture. C. A Carlisle Company. 3334 Orchard, two fixtures. , ► P A Jones, southwest corner Davidson and East Ohio, four fixtures. P A Jones. 171S Ashbury, four fixtures. Maspn-Schenck. 1361 Kentucky, three fixtures. H. Silverman. 106 South Illinois, five fixtures.

THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bid., or offer.ngs, but merely indicate the approximate market ievei based on buving and selling inquiries or recent transactions —July 11— faXOCKS Bid. Ask. Belt Rail & Stock Yards, com. 26 30 Beit Rail <Se Stock Yds pfd 6% 4o 50 Cent Ind Pwr pfd 7"* 13 16 Citizens Gas com 14 H Citizens Gas Cos pfd 57c 63 Home TSTFI Wayne pfd 7 % 36 40 Ind Mich Eiec Cos pfd 7%.. 68 £ Ind Gen Service Cos pfd 67c-. 62 66 Ind Hydro Elec Cos ri 27 30 Indpis Gas Cos com 404 J Indpls Pwr & Lit pfd 677 61 65 Indpis Pwr &Lt Cos pfd 6%% 67% 71% Indpls Water Cos pfd 507 88 92 No Ind Pub Serv Cos pfd 5%% 36 2 40 2 No Ind Pub Serv Cos S'Ts 37% *1 1 2 No Ind Pub Serv Cos 7 r ; 42 46 Public Serv Cos of Ind pfd 6% 14 17 Public Serv Cos of Ind pfd 7 r 37% 4112 South Ind Gas & El pfd 67c •. 55 60 Terre Haute Elec pfd 6'. 40 43 BONDS Belt R R & Stkyds 4s 1939... 88 92 Citizens Gas Co' 5s 1942 79'4 83Vi Home T & W 5%s 1955 96 100 Home T & T W 8s 1943 98 102 Indpls Gas Cos 5s 1952 77 80 Indpis Rys'lnc ss, 1967 27 31 Indpls Water Cos 4%s 1940.... 98 101 Indpis Water Cos 5s 1960 92 1 2 96Vi Indpls Water Cos 5s 1970 92 95 Indpls Water Cos 5%s 1953. ..100 103 Indpls Water Cos 5%s 1954 100 103 Kokomo Wat Works 5s 1958... 74 78 Lafayette Tel C'o 5s 1957 83 87 Muncie Water Works 5s 1939.. 90 94 Richmond Water Works 1957.. 84 88 Terre Haute Water Wk 5s 1956 82 86 Terre Haute Wat Wk 6s 1949. . 92 96 Traction Terminal Cos 5s 1957.. 44 48 Joint Stock Land Banks ... . Bid. Ask. Atlantic 5% 46 49 * Burlington 5% 37 40 California 57c 55 58 ♦Chicago 5% 26 29 Dallas s"c 53 56 Denver 5% 52 55 Des Moines 5 % 50% • 54Vi First Carolina 57 35 38 First Ft. Wayne 57c 52 55 First Montgomery 57c 38Vi 41 Vi First New Orleans 57c 37 41 First Texas 5 9c 49 52 First Tr Chicago 5% 55 58% Fletcher 5% 69 73 Freemont 577 58 61 Greenbrier 57> 58 61 Greensboro 57 0 ■ 47 50 Illinois Montlcello 57c 60 Vi 63 Vi Illinois-Midwest 5% 43 46 Indianapolis s"c 77 81 lowa 5% 57 60 Kentucky 5 "o 61 64 Lafayette 57c 50 53 Lincoln S % 52 55 Louisville 579 52 55 Maryland-Virginia 5% ....(.. 67 70 Mississippi 5% 45 48 New York 5 7c 48 51 North Carolina 57c 40 43 Oregon Washington 57c 38 41 Pacific Portland 5% 47 50 Pacific Salt Lake 57 i 50 53 Pacific San Francisco 57c .... 50 53 Pennsylvania 570 53 57 Phoenix 57c 68 71 Potomac 57c 50 53 *St. Louis 57c 25 28 San Antonio 5% 55 58 ♦Southern Minnesota 5% .... 15 18 Southwest 57 c 41 44 Union Detroit 5 70 51 54 Union Louisville 579 52% 56Vi Virginia Carolina 57c 43 46 Virginia 5% 53 56 ♦Flat. Chicago Stocks By Abbott, Hoppln tz Cos. —July 10— TOTAL SALES 107,00 SHARES High. Low. Close. Allied Products 19 \Am Pub Serv pfd 9'/2 Asbestos Mfg 4% 4% 4% Assoc Telephone Util % Backstay-Welt ■. 6 Bastian-Blessing 12’A 12% 12V4 Bendix Aviation 19% lflVi 19‘/a Binks Mfg ... 2'/a Borg-Warner 20% 20 20 1 /* Brach & Sons 8 Brown Fence & W A 7'4 E L Bruce Cos ... 15% Butler Bros 5% 5% 5% Berghoff 14% 14‘/a 14% Cent 111 Pub Serv pfd. 25 284% 24% Cent 111 Securities pfd 7 Cent Pub Util .. ... Vi Cent & So West 4V4 3 7 /a 4% Cent & So West pfd. . 19 16 19 Cent &So West PL pf 25Vi 22 25% Chi & North Western .. 14% 14% 14% Chi City & Con Rys V 4 Chicago Corp com 5 4% 4% Chicago Corp pfd 34 Vi 32% 32% Chicago Towel pfd 64 Chicago Yellow Cab... 13% 13% 13% Cities Service 4% 4Vi 4% Commonwealth Edison.. 70% 68 68% Const Mat pfd ... 3 Continental Steel IOVi 10 10 Cord Corp 12 Vi 11% 12 Crane Cos 11 16% 11 Crane Cos pfd 5Vi Decker & Cos 4 Dexter Cos BVi 8 8 Electric Household 12% 12Vi 12% Fitzsimmons & Connell 12 11 12 Gardner-Denver Cos 11 Godchaux iB 7 Goldblatt Bros 25% 24Vi 25Vi Great Lakes Aircraft ... 1% Great Lakes Dredge.... 17% 16% 17 Greyhound Corp 1% 1 % 1% Grigsb.v-Grunow 3% 3% 3% Hall Printing ... 9 Hart-Carter pfd . . 6% Hormel & Cos ... 20 Houdaille-Hershev lA> . . 12>/i i2% 12% Houdaille-Hershev 181.. 5% 51/2 5% 111 Northern Util . 6 2 Iron Fireman BVi BV4 8% Jefferson Elec 10% 10% 10% Keystone Steel .... 14V 8 14 14 Libby-McNell 6% 6% 6% Lincoln Printing ...... . . 8 Lindsay Nunn Pub 33^ Lion Oil Refining Cos s)' Lynch Corp 31 Marshall Field' 17s/. 'l7 171/ McGraw Electric 4ft Mickelberry’s Fod Prod .. 6% Middle West. Utilities.. % % % Midland United 1% iy 4 13* Midland United pfd . 2% Mosser Leather BVi '8 8 National Leather 2% 2 2 National Union Radio Noblitt-Sparks Ind Inc 26% No Am Li & P0w.... 5% 5 5V* Northwest Bancorporatn .. ... 9% Pines Winterfront .. 2% Prima Cos 27 26% 26% Public Service 34 Public Service N P. . . 35 34% 35 Pub Service 6% pfd 66% Public Serv 7% Pfd 76 Vi Quaker Oats 140 139 139 Quaker Oats pfd 115% Railroad Shares 1% j % 15. Ravtheon VTC ... 6 Reliance Mfg Cos 16 Rverson & Son 18% Sangamo Elect com ... jj% Seaboard Utilities Sh.. 1 v B % Sears Roebuck 44 43 433 4 Sivyer Steel Cast 6% Southern Union Gas 1 Storkline Furniture 534 Studebaker Mail % % 3* Super-Maid 4% 4Vi 4% Swift &Cos 21 20% 20% Swift Xnternacional ... 29% 29 29% Thompson J R 12% U S Gypsum com 52% U S Radio & Tel 23 21% 22% Utah Radio ... 1% Utility & Ind ... 2% Utility & Ind pfd 6 Vortex Cup Cos 9 8% 8% Wahl 2% 1% 2 Walgreen Stk Pur Warr 19% 18% 19% Wieboldt- Stores 12 % 12 12 Wisconsin Bankshares ... ... 6% Yates Machine 2% 2'/ 4 2% Zenith Radio 2%

Indianapolis Cash Grain

—July 10— The bids for car lots of grain at. the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41Vi New York rate, were: Wheat—Strong: No. 1 red. 93 , 2®94 1/ 2 c: No, 2 red, 92 1 -2®93 l ic; No. 2 hard. 92>/s@ 93*i2C. Corn—Strong: No. 2 white. 55 ! 2®56 I 2C: No. 3 white. 54‘2®55 ! 2C; No. 2 yellow, 54® 55c: No. 3 yellow. 53® 54c; No. 2 mixed. 53(r? 54c Oats—Strong: No. 2 white. 42’ 2 iff 43'"ic: No. 3 white, 41 1 2@42>/ic. Hay—Steady (f. o. b. country points taking 23> 2 c or less rates to Cincinnati or Louisville* No. 1 timothy, $5.50@6; No. 2 timothy. [email protected]. —lnspections Wheat—No. 1 red. 6 cars: No. 2 red. 13 cars: No. 4 red. 1 car: No. 2 mixed. 1 car. Total. 21 cars. Corn—No. 2 white. 10 cars: No 3 white, 4 cars: No. 5 white. 1 car: No. 6 white. 2 cars: No. 2 yellow, 10 cars: No. 3 yellow. 11 cars: No. 4 yellow. 3 cars; No. 5 yellow, 2 cars: No. 6 yellow. 4 cars; sample yellow. 1 car: No. 5 mixed. 1 car. Total. 49 C3TS. Oats—No. 2 white. 6 cars; No. 3 white. 23 cars. Total. 29 cars. INDIANAPOLIS WAGON WHEAT City grain elevators are payiny 90 cents for No. 2 soft red wheat. Other grades on their merits Births Bovs Charles and Irene Gorman. Christian hospital. Mose and Ida Lockman. Methodist hospital. Clair and Britta Gould. Methodist hospital. Henry and Hazel Skaggs. Coleman hospital. Carl and Helen Niermann. Coleman hospital. Girls Alnhon and Marguerite Staub. 561 North Jefferson. George and Dorothy Smith. Methodist hospital. Robert and Mary Kingston. Methodist hospital. Claude and Luvine Barnett. Coleman hospital. Deaths Margaret Gioe. 1 dav. Coleman hospital, brain hemorrhage. Luma Thompson. 25. city hospital, intestinal obstruction. Sarah Louisa McClain. 75. 4922 University. apoplexy. Car! Schoenhofer. 40. St. Vincent's hospital. acute pancreatitis. Henry J- Fink. 72. city hospital, chronic cholecystitis. Sarah Jane Kidd. 79. 1415 Ewing, influenza. Harriett Fender. 20. Coleman hospital, pulmonary embolism.

SWINE MOUNT 15 TO 20 CENTS AT CITYYARDS Slaughter Classes Active and Higher in Cattle Market. Hogs were mostly 15 to 20 cents higher this morning at the Union Stockyards. Underweights showed a better advance with prices up 35 cents in some cases. The bulk, 160 to 200 pounds, sold for $4.65 to $4.70; 200 to 300 pounds. $4.75 to $4.80; 130 to 160 pounds, $3.75 to $4.25. Receipts were estimated at 6,500. Holdovers were 327. In the cattle market slaughter classes were active, values strong to 25 cents higher. Heifers showed the most improvement, Several steers were on hand to sell at $5.25 to $6.50, today’s bulk price. Heifers sold up to $6. Receipts were 1,800. Vealers were steady at $6 down, j Calf receipts were 800. In the sheep market lambs were around 25 to 50 cents lower. The j bulk sold for $7.50 to SB, with a top ! of $8.25. Asking on hogs at Chicago held ! around fully steady with Monday’s ; average, while a few early bids were | weak to 10 cents lower. The bulk of j good to choice kinds weighing from ' 200 to 290 pounds was bid in at 1 $4.50. Receipts were estimated at; 30.000, including 13,000 direct; holdovers 3,000. Cattle receipts numbered 8,000; calves, 2,500; market steady. Sheep receipts were 8,000: market unchanged. HOGS July. Bulk. Top. Receipts. 3. $1.50® 5.65 $4 65 7 500 5. 4.45® 4.60 4.60 1,100 6. 4.60® 4.70 4.70 9,000 7. 4.70® 4.80 4.85 9,000 8. 4.65® 4.75 4.75 3 500 10. 4.55@ 4.65 4 65 6,000 11. 4.65® 4.80 4.80 6,500 Market, higher. 1140-160> Good and choice...s 4.00® 4.25 —Light Weights—-(l6o-180) Good and choice.... 4.65 (180-200) Good and choice.... 4.70 —Medium Weights—-(2oo-220) Good and choice ... 4.75 (220-250) Good and choice ... 4.70® 4.80 —Heavy Weights—-(2so-290) Good and choice... 4.80 (290-3501 Good and choice ... 4.70® 4.80 —Packing Sows—(3so down) Good 3.50® 4.25 (350 upl Good 3.25® 4.00 (All weights) Medium 3.00® 3.50 —Slaughter Pigs—-(loo-130) Good and choice.... 3.25® 3.50 CATTLE Receipts, 1,800; 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 3.25® 500 (750-900) Good and choice 4.25® 5 75 Common and medium 3.00® 4.25 —Cows— Good 3.25® 4.00 Common and medium 2.50® 3.25 Low cutter and medium 1.50® 2.50 —Buis (yearlings excluded) Good (beef) 3.00® 3.50 Cutter, common and medium 2.00® 3.00 VEALERS Receipts. 800; market, steady. Good and choice $ 5.50® 6 00 Medium 4.00® 5.50 Cull and common 2.50® 4.00 •—Calves—-(2so-500) Good and choice 3.50® 5.0 C Common and medium 2.00® 3.50 —Feeder and Stoker Cattle—-(soo-800) Good and choice 4.50® 5.75 and medium 3.00® 4.50 Good and choice 4.75® 5.75 Commpn and medium 3.00® 4.50 SHEEP AND LAMBS Receipts, 2,000; market, lower. —Lambs. Shorn Basis—--190 4° wn) good and choice.s7.oo® 8.25 (90 lbs. down) com. and mod... *.so@ 7.00 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2ho Other Livestock BY UNITED PRESS i July 11.—Hogs on sale. 1.500- market siow, mostly 10c lower; 160 1° 2 ?>? lbs '' ® 4 80(g5: bid for few 200 to “10 >bs, average; 250 to 300 lbs., $4.54® A 3 ? t°, 160 , lbs " $4®4.50; slaughter pigs, 53.50®4; packing sows. $3.25®4. Cat-tle-Receipts. 26; no good steers or heifers offered; some common western grass steers, unsold; cows steadv: cutter and low £!^t r =„ gra i es V SI-50®.2.50; good fat cows, s3® 3.50. Calves—Receipts, 150; active, strong to 25c higher; good to choice $67/ 6-75: new selections. $7®7.50; medium', $5.50® 6; culls and common. s4@s. Sheep —Receipts, 700; no good lambs on market; strong weight ewes and wether lambs steady at $8.50®9; medium, common and light lambs, very slow. FT. WAYNE, July 11.—Hogs—5c up; 300350 lbs., $4.a5; 25(5-300 lbs., $4.65; 200-250 lbs.. $4.55; 170-200 lbs.. $4.45: 150-170 lbs f™ 05 ,',,, 14 ?" 150 lbs - s3 7 °) 130-140 lbs.. $3.45; 100-130 lbs, $3; roughs. $3.50; stags $2 Calves—ss.so; lambs, $7.25. Cattle—Steady steers, good and choice. $5.50; grass steers, good and choice. $3®3.50; medium and good. [email protected]: fed heifers. good and choice. $4.5045 5; grass heifers, good and choice. $4®4.25; medium and good s3@4common and medium. $3®3.50; cows, good and choice, $2.50® 3; medium and good s2® 2.50; cutters. $1.75®2; canners. sl® 1.50; bulls, good and choice. $3®3.25; medium and good. $2.50@3; butchers, good and light, $3®3.50. LAFAYETTE. July 11.—Hog market 15® 25c higher: 200-300 lbs, $4.60®4.65: 300"325 lbs, $4.50; 170-200 lbs, $4 45®4 55; 140-170 lbs, $3.75®4; 100-140 lbs, $3®3.50‘ roughs. $3.75 down; top calves. $5; top lambs. $7.25 PITTSBURGH July 11.—Cattle—Receipts 25; market, steady: steers. 900-1100 lbs ‘ good. $6.25®6.50; meduim. $5.75®6: common. $4.75®5.25; 1.100-1.300 lbs, good $6 ®6.50: medium. $5.25®5.75: heifers, good $4.25®5; medium. $4®4.50: cows, good S3 ® 3.25: common and medium. $1.50® 2’ 50bulls. common to good. $24; 3.50. Hogs—l Receipts. 500; market. fairly active steadv: prime heavies. s4® 4.90: heavy mixed. $4.90® 5; medium. ss® 5.05- heavy Yorkers. ss® 5.05; light Yorkers. s4® 4 50pigs. $3.25® 3.75: roughs. s3® 3.50. Sheep and lambs—Receipts. 500: lambs, good to choice. $7.75® 8: some held higher- medium. $6.25® 7.25: sheep wethers fiine. $2 60 ®2.75; fair to good. $1.75®2; ewes medium to choice. [email protected]. Calves—Receipts 150' vealers. good $6; few strictlv choice $6 50 : medium. [email protected]; heavy and thin. s3®4

—Today and Tomorrow— London Economic Conference Is Divided Into Two Camps—The Gold Bloc and the Antis. BY WALTER LIPPMANN

Following is the text of Walter Lippmann’s speech on the world Economic Conference at Paris Monday night, cabled to the United States and broadcast over the National network: IHAVE seen a number of messages from people back home in America saying they can not make head or tail of the world economic conference. I wish I could say that I am able to make it all clear to them. I am afraid I can not. The best I can do is to give them, for what it may be worth, an explanation as to why thus far the conference has had neither

a head nor a tail. This conference first was decided upon a year ago this month at Lausanne, where the European nations made a settlement of the reparation question with Germany. The statesmen at Lausanne say that many things needed to be done besides settling reparation before the world could recover. They were not, however, then prepared to do any of these things. In fact, they were not even prepared to discuss them. So they decided that some day a conference should be held which would somehow settle a whole mass of. unsettled questions. From last July onward every question that could not be settled was referred to the world economic conference. Last winter conditions were growing worse in all countries, and it seemed desirable to get ready to decide to hold the well-advertised conference where so many things were to be decided. So a group of experts

were gathered together, and they drew up a program of things that ought to be decided, which is known as the agenda. This was in January, but still the governments had not decided when the conference should be held.

'TVHEN suddenly our banking crisis came to a head, the Roosevelt administration came into power, we left the gold standard and started in deadly earnest to cure the American part of the depression. While we were doing this, Mr. MacDonald and Mr. Herriot visited the President, and. with him, decided to call the conference in June. What was the conference to talk about? The only program there was, was the program which had been drawn up in January. This program had been drawn up before any one had the least idea that the United States would depreciate its currency or adopt a national program to raise prices. The decision to hold the conference in June was made last April, just after we had left the gold standard and before any one clearly understood the scope or the sensational effectiveness of the Roosevelt program. Asa result the old January agenda was, in theory and in its practical proposals, rendered almost completely out of date by the course of events in the United States. What has happened in London between June 12, when the conference met, and last Thursday evening has been to prove that the January agenda could not be acted on in June. The gold countries tried to carry out the program as laid down in January. That program, which we agreed to when we too still were a gold country, is a gold program. It opposes currency depreciation. It calls for the stabilization of currencies. It is a program for any country that holds the views that our government held last January. * * WHEN our delegates reached London they discovered that the program to which they were officially committed in the conference no longer fitted the facts and the purposes of tne program which congress,,.had r > approved for the States. * That is why there has been so much confusion. On July 3, the President issued his resounding denunciation of the work of the conference. Now what was he denouncing? In substance, he was denouncing the attempt to carry out the spirit and the intention of the January program. In effect, he was declaring that the conference needed anew program. Once the President had decisively taken this position the old conference dealing with the January program collapsed. Since then we have been witnessing an attempt to organize anew conference with anew program. It is not called anew conference, of course, but that is what it is. n n u THE nations which attended the old conference now have been divided into two parties. On one side are ranged fifteen nations of continental Europe extending from Spain to the .frontiers of Russia. This is the “gold bloc.” These countries, almost all of which have within the last ten years suffered terribly from a world inflation, have organized themselves to keep their currencies from depreciation. They proposed to fight the speculation against their money, and for that reason they will not take part in any debate about money in London. x They claim that if they debate the subject in London, they will, from hour to hour, be feeding the speculators with rumors. If they are to stand pat on gold, they can not be seen discussing radical currency reforms with people who have abandoned the gold standard and will not promise definitely to return to it.

A. B. C. BREWING CORPORATION ST. LOUIS, MISSOURI COMMON STOCK • LISTED ON CHICAGO CURB EXCHANGE DETAILED CIRCULAR ON REQUEST PRICE AT THE MARKET • PFAFF & HUGHEL INCORPORATED Illinois Building . Indianapolis , Telephone LI. 2565

RANGED on the other side are some twenty-five nations which, besides the chief South American countries, the Scandinavian countries, Japan and China, include the whole British empire and the United States. The bloc is much less clear about what it wants than is the gold bloc. The vital point is what Great Britain will do. Now, there is no evidence as yet that Britain really is prepared to adopt a policy like ours. Last week in London it was pretty plain, I thought, that while the British would vote with us in the conference, they would not now act with us in any substantial measures. In part, this is because their needs differ from ours; in part, it is because they have a conservative government which instinctively recoils from experimentation by the Roosevelt administration. But chiefly, it is because there is a deep conviction among the British that we are letting speculation run too fast and too feverishly, and that until we show some signs that we know how-’ to control this speculation and are willing to control it, it is not safe to w r ork with us. a a tt AND this, I think, is the most important thing I have learned in Europe during the last fortnight, and I am not sure but it may be the most important thing that.we in America have now to consider. Where and at what point, and by what means do we intend to put on the brakes to control the vast and increasingly violent speculation in the United States? This is now the vital question for us. We have produced an inflationary movement. Have we the courage and the wisdom to control it before we create a situation which would be full of difficulty and danger? Until we answer these questions our own policies will not be worked out properly, and we shall not obtain the convinced and effective cooperation of other nations on a program to raise world prices by orderly methods. (Copyright. J 9331 Produce Markets Delivered In Indianapolis prices: Hens, heavy breeds over 4% lbs.. 10c: Leghorns. 7c. Broilers: Colored springers. 1% lbs. up. 14c: springers (Leghorn). 1% lbs. up. lie: barebacks. 7c: cocks and stags. 6c: Leghorn cocks and Leghorn stags. sc. Ducks, large white, full leathered and fat. over 4 lbs. 4c; small and colored. 3c. Geese, full feathered and fat. 3c. Young guineas. 20c; old guineas. 15c. Eggs—No. f fresh country run eggs. 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. Butterfat—l9c. Quoted bv the Wadlev Company.

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GRAIN PRICES SWING UP ON BULLREPORT Spring Wheat Estimate Is Lowest in Forty Years. BY HAROLD E. RAINVILLE United Pres* Staff Correspondent CHICAGO. July 11.—Grains moved up unevenly as the Board of Trade openeed today under the stimulus of the sensational crop report. Wheat rose % to 1% cents at the start with all deliveries setting new highs for the year. Cables also were strong but stocks were unsettled. Corn jumped to new highs with a % to rise at the start, while oats was up % to 1% cents in new ground. The weather was growing warmer over the belt with no precipitation of moment, which also attracted some attention. Provisions were strong. The government report late Monday furnished the surprise of the year in that the estimates on all grains were under the lowest estimate by private experts given out on July 1. The spring wheat at 160,000,000 bushels was the smallest in forty years and with 336,000.000 bushels winter wheat made a total of 496,000,000 bushels, or half a normal crop. Liverpool was strong and 1 to 1% cents higher at mid-after-noon. The government figures on the new corn crop were 2.384,000,000 bushels, or about 500,000,000 bushels below last year. The oats estimates of 699,000.000 bushels compared with the July 1 report of 750.000.000, while a normal crop is around 2,000,000,000 bushels. Rye furnished the greatest surprise to the trat’.e Monday with a 7 to 8-cent advance to new 1933 highs with offerings light. Chicago Primary Receipts —July 10Wheat 2.508,000 Corn 2.127,000 Oats 993.000 Chicago Futures Range —July 11WHEAT— Prev. High. Low. 11:00. close. September ... 1.00 1.04 1.05 1.03% December ... 1.07% 1.06% 1.07% 1.05% Mav 1.11% 1.11 1.11% 1.09% CORN— September ... .67 .66% .67 .65% December ... .71% .70% .71% .69% Mav 76% .75% .76% .74% Oats— September ... .48% .48 .48% -47% December ... .51 .50% .50% ,49% September ... .94% .92 .94% ,88% December ... .99 .97% .99 .99% BARLEY— September ... .66% .60% December ... .66% .66% .66% .64% CHICAGO CASH GRAIN By United Press CHICAGO. July 10. —Cash grain close: Wheat —No. 5 red. old. 95c; No. 1 dark hard. $1.02; No. 1 hard. $1 01®.1.02%; No. 2 hard, si: No. 3 hard. $101: No. 5 old, 97%c; No. 1 mixed. 98%c® $1.01%; No. 2 mixed. $1.00%. Corn —No. 2 mixed, 59®59%c; No. 3 mixed, 58c: No, 4 mixed. 57®57%c: No. 6 mixed. 53c; No. 1 yellow. 61%c; No. 2 yellow. 59% 5 61c: No. 3 yellow 58% ® 60c; No. 4 yellow. 57%®58%c; No. 5 yellow. 55%®56%c; No. 6 yellow, 53 ®ssc. Corn—No. 2 white. 57%®61c: No. 6 white. 52%<8 53c; sample grade. 37®44c. Oats—No. 2 white. 44%®45%c; No. 3 white, 43%®45c: No. 4 white 42%®44c. Rye—No. 1. 82%c. Barley—so®.77c. Timothy—s3.4o. Clover. sß® 11. CHICAGO FRUIT MARKET By United Press CHICAGO. July 11.—Apples—Illinois Transparents, $1®1.25: Duches. $1 15® 1.40. Raspberries—lllinois Indiana and Michigan reds. $1.25® 1.60; Indiana and Michigan blackcaps. Cherries—Michigan sour. sl® 1.25, sweet. $1.25® 1.60. Gooseberries—Michigan, [email protected]. Currents—Michigan. $1 25®1.50. Dewberries —Michigan. $1.25® 1.60. Onion market—Texas —Crystal White waxed. $2®2.10: California -ellows, SlOi 1.25; Crystal White waxed. $2®2.10: lowa yellows, 90c. LOANS AT REASONABLE RATES FOR ALL WORTHY PURPOSES The Indianapolis Morris Plan Company Delaware and Ohio St. RI. 1.736

Lippmann

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