Indianapolis Times, Volume 45, Number 56, Indianapolis, Marion County, 15 July 1933 — Page 9

JULY 15; 1933.

Wall Street Rock Island Situation Suggests Need for Permanent Bondholders’ Protective Committee. BY RAI.PH HENDERSHOT Times Special Financial Writer

The spectacle of five different bondholders' protective committees in one property is anew one to Wall Street, but from a practical standpoint it would seem as if they were needed in the case of the Chicago. Rock Island A: Pacific Railway Company. The company has seven different tvpcs nf bonds outstanding, and the interests of owners of most of these conflict. In other words, one committee, even though it might appear to he less expensive, could hardly be expected to serve the interests of holders of each of these classes of securities impartially. But the fact that five committees are to function does not necessarily mean they will not work in complete harmony. Asa matter of fact, there

is every indication already that they are in accord. At any rate. Joint statements were made of their formation. Insurance companies and savings banks are well represented on the committee. This is as it should be, since they are by far the largest individual holders of the bonds. Investment banking firms, how-ever, appear to have been largely ignored. In the past they have played an important part in the reorganizations of railroads, and not infrequently their cut in what was left of the properties appeared disproportionately large. There were evidences at times that the banks got a big slice of the pie when they sold the bonds originally and another big slice when it was discovered that they never should have been sold. It is rather 1-pfreshing to note that one of the committees will serve without eompeasation. non Permanent Committees Experience has indicated that bondholders’

Ralph Hendershot

protective committees usually are formed much too late. In effect, they tend to lock the door after the horse has been stolen. They help to pick up the wreckage, to be sure, and their purpose is supposed to be to see that the owners get their rightful share. But it Would be much better if they could prevent the wreck. The time may come when boldholders will insist on having at least one representative sitting on the board of directors of corporations. It seems rather ridiculous that investors should turn their money into a company for bonds in the blind hope that they will get it back again at some future date, with interest in the meantime. The new Securities Act, undoubtedly, will afford thpm much needed protection, but even that may not prove sufficient. Rock Island directors voted a dividend of $7 a share on the company’s common stock in 1930 when earnings fell more than SI.OOO 000 short of meeting the payment. They authorized another disbursement of $2.25 in 1931 despite the fact that the deficit after such payment ran to nearly $4,000,000. A man on the board charged w’ith the protection of the bondholders’ interests might have secured for them a better deal. The money the insurance companies and the savings banks invested in Rock Island bonds belonged to someone else. The question may be reasonably asked whether they w'ere warranted in making such investments without being in better position to safeguard them. It w'as investments such as these which were at least partially responsible for the apparent inability of the insurance companies to live up to their contracts in full, and which made it necessary for the banking authorities to limit withdrawals from savings banks a few months ago.

New York Stocks *———~“ (Bv Abbott. Hoopln <fe Cos.)

—July 14— Oils— Prev. High. Low, Close, close, Amerada 40 38'.* At! Rfa .30 29' 2 29'* 309s Barnsdall 10% 10 10j 10_s Consol Oil 15% 14’s J 4% }** Cont. of Del IS"* 17% 17;% l®.* Houston (newt .. 6’* 6*/. 6- ® " Houston 'oldi.. 36% 35'4 3S \ 36 Mid Com Pet, .. 15% 15’* 15 * la * Ohio Oil I®** I*’:'* }*,'• !?•* Pet, Corp 13 s * }3'-a 13 >2 14 Phillips Pet . . 17'4 18* 18 * 1‘ 4 Pure Oil IJ* J 4 i?," 8M Oil DU,C 31'* 3?' , 31 % 31*4 Shell Union 10% 10 10% 10% Simms Pet, . . 11 % 11% 11 % 11 4 Skeilev Oil 9% % * 9? VsW 15 14a 14 2 14* To o? cai':: 39% 3 5 % 38% 39% BOOf N J 40 39 38 a 40 SUFI Oil ... • • nei 0-3. Texas Corp .27 4 26 2 26 4 2 * Tidewater Assn. 10 9 2 9 2 9* Un Oil of Cal... 22% 22 22% 22 4 Am Rail Mills . 27% 26% 27 2R% Beth Steel ... 46% 45 a 45 a 46 2 Byers AM. • 34% 32 4 32 a 34 Col Fuel A 1 Iron 15% 15 is a **, Crue, Steel ... 33% 32 32 33 , Gulf Sts Steel . • , 38 Inland Steel ... 44% 43 43 Lndlum Steel. .19 J*,'* ini, 2 90% McKeesport Tin 90 ,* Natl Steel 53 * 2;, 8 22 a. Rep Iron As Steel 22% 21 4 22 4g 2 4 Rep Iron A Stl p a4% 50% 50 2 ‘ V S smelt 85 50 65 Vanadium yju* {534 17 o/ 19% 19% 20; 4 Sffloid-:-! JI s 1 ; 103% Voutlast nSA:T 35 a 34 Kails— 75 5, 7554 76% Atchison 7. I A'l Cat Line 55% 54 ?n Pa? • : :: 20% ?% 20 20% Ch n & Ohio . 46% 45% 45% 46% FWVV .: -7% j% l3 ; -8* ** 'll t s paV^ Pl So% -88% |B% Erie Voit on I 31 Grt Northern pf 31 t Jni 41 V A\'a L„, kW h ;;;; . ,5*4 15% Mo rjf pf'd '.: : 13% '12% 12% 13% ss&rvstLfr: ; 2, NY Chi A- St Lpf 29 27 4 2 j,* 28^ N Y New Haven. 32 a 31 2 31 2 N Y Ont A West 14 13 2 13 - ' Norfolk A Wes.. 169 188 Nor IR r D xJ. 2 3R.J 38% 39% Penn R R in 5R 59 60 Reading 59 3 g, 3# lourTi :::::i!i% 30*: ?o% 31 Sou R R Pfd 39% 39 a9% Union Par 12-% 125 4 126 128 * Wabash 8% * ,7 * 157! W Maryland . 15*4 15 1S 1 Motors — „ 773 a Auburn J;,* 9694 37% Chrysler 37% 36% 36% 37.2 Gen Motors . . 3332 a 2 51* HudsorT MOt .'. ' 15% 15," 15% 15% Mart Truck. .43 41 % 42% 42% Packard ... . ”% % % * 5% 5% 5*4 s*, Studebaker ... 8% 7% 7% ± Yellow Truck . <*. 7 % 7 4 7 a Bendfr.-'"”’ - !’* 19% * Bohn Alum 50% 48% 48 a 50,* Borp Warner 20 19-a 19% 19 . Brigcs 13 if ♦ l2 * % 4 Rudd Wheel . 5 4a 5 5 Eaton Mia . 14% 14% 14 2 14 4 Elee Auto Lite 2p 25% 25 a-?% Houri Hershey . 6% 5% 6 5% Mullin.. Mia 9 8% 8% 9 Murray Body 11 10% 10 a 10 4 Stew Earner . 8% 8 8 8 s Timken Rol 34% 33 1 4 33- a 34 Mining— _ . ... Alaska dun 23% 21*4 21% ;e" 4 Am Smelt ... .39 37% 3i% 39 Anaconda .... . 20% 19*4 19 4 20 2 Cal A Hecla 8% 8% 8% 8% Cerro de Pasco. 37% 34% 35*8 34 Granby 14% 14% 14% 15% Gl Nor Ore 15% 15 15% 15% Homes!a-ke Min 236 235 235 235% Howe Sound . . 27% 26 26 25% Ins Copper .. 8% 8% 8% B*4 Int Nickel 20% 19% 19% 20% Isl Creek Coal 31% 30%. 31-% 30 Kennecott Cop . 24 23% 23% 24 Noranda Cop .. 31% 41% 31% 31% Phelps Dodae . 16% 15% 15% 16% Pitts Coal 22 18 21% ... Tobaccos — Am Snuff . ... 47% 47% 47% 47% Am Sum Tob . . ... 15% 15% Am Tobacco A 88 87% 87% 88 Am Tobacco B 92', 91% 91% 92 Gen Clear . 44% 43% 43% 43% LIRR A- Myers B 94% 93% 94% 04 Lorrillard 24% 24 24 24% Reynolds Too B 50% 49% 49% 50% Equipments— Allis Chalmers . 25% 24 24% 24% Ant Car A Fdv. 35 32*4 34 33% Am Loco 34% 32 32% 33*4 Am Mach A Fdv 20 s 20% 20% 20% Ant Steel Fdv 24% 23% 24 24_ Bald Loco 17 15% 16 15% Burroughs 20% 1919% 20% case J I 99*a 98% 96% 96% Cater Tract .... 27% 26% 26% 27 Colgat Palm Peet 19% 19% 19% 20 Congoleum 21% 20% 21% 21 Elec Stor Bat .. 52% 51 51 52% Foster Wheeler 21*a 20% 20', 212% Gen Am Tk Car 42*4 4!% 42 41% Gen Elec 30 28*, 29 28% Gen R R Sir . . 45% 45% 45% 46 Ineo! Rand ....71;* 70 70% 69 Int Bus Mach... 142 140 141% 140 Int Harvester .. 44 42% 43 43% Kelvnator 12 11% 11% 12 Natl cash Rec 21'. 20% 20% 21% Proc A- Gamble 46 44% 45% 44% Pullman Inc ... 55% 84 54 55% Simmons Bed. .. 23% 22% 23% 23 Und Elliot . 38% West Air B ..33% 33 33 34 Westlnah Elec 58% 54*4 55% 56 Worthington P.. 38 36 36 37 Utilities— AmAm A For Pr 19% 18% 18% 18 Am Pr A Ltt. . 18% 18 18 18*4 A T A T 133 130% 130% 132% Am Wat Wks. 41% 39% 39% 41 Brook Un Gas... 85% 85 85% 85% Col Gas A- Elec.. 27% 26 38% 26% Col G A F. p!d.. 81 80% 80% 81% Com A Sou 5% 5 5 5% Consol Gas 62% 61 61 61% Elec Pwr A L.. 14', 13% 14% 14% EP A L_pfd... 26* 26 26 27% Int T A T. 21*4 19% 21 20 Lou O A E lAI 23% 22% 23 23 Nat Pwr A Lit.. 20% 19% 19% 19% No Amer 35% 34% 34% 35'* Pae c, A E 31'. 31 31 31% Pub Ser* N J . 54% 52% 52’, 54 SI Cal Edlaon 26% 26 26 26% Sid Gas 2: 20 20 20 . sd Gas pfd 22% 21% 22 22% United Corp 13% 13% 13% 13% Un Gas Imp 3% 23% 23% 23 1 - Ut Pwr A Lit A S 7% 7% 7%

.Western Union.. 73 70 71 71% | Rubbers— I Firestone 28% 26% 27% 28% , Goodrich 20 18% 19 18% : Goodyear 44 42% 43 43 U S Rubber... . 19% 18% 18% 17% U S Rub pfd 37% 35% 34% 35 Kel Spring 5% 5% 5% 5% Amusements— Croslev Radio 12 12% Fox Film 4% 4% 4% 4% Loews Inc 26'% 26 26% 26% Radio Corp .... 11% 10% 11 11 RKO 4% 4% 4% 4% Warner Bros .... 7% 7% 7% 7% Foods— Am Sugar 71% 68% 71% 70% Armour A 7% 6% 7% 6% Beatrice Cream 26% 25% 25% 25% Borden Prod . ... 37 35% 36 36% Cal Parking . ... 30 29% 29% 29% Can Drv G Ale.. 28% 26'a 26% 27 Coca Cola 104% 103 103 103% Cont Bak A 16 16% 16% 16% Corn Prod 82 80% 80 % 81% Crm of Wheat... 37% 35- 35% 36% Gen Foods 37% 36% 37 37% (told Dust 26% 25% 25% 26 G W Sugar . . 36% 33% 36% 34% ; Hershev 58% 56% 58% 56 Int. Salt. 26% 25% 26 26% Natl Biscuit... 58 57% 57% 58% Natl D Prod 24% 23% 24% 24 Pet Milk 14 Purity Milk 24% 23 23 24% S Porto Rtco Sug 43% 39% 43% 40 Std Brands . . 30% 28% 2R% 29% United Fruit .... 62‘/2 62 62% 62% Ward Bak A ... 17% ... Wriglev ... 51 ... Retail Stores — Ass Dry Goods.. .. ... 17% 15% Best &Cos 30% 30 30 30 %Gimbel Bros.. ... 6% 6% Gimbel pfd 32 31 32 31 I Or Un Tea 9% 9Vi 9% 9% I Hahn Dept Sts.. 8% 7% 7% 8 .Jewel Tea 42 41 41 42 I Kresge SS... .. ■ 16% 16 16% 16% ! Kroger Groc .. . . 35% 33% 33% 34% Macy R. H . . 62% 61 61% 62 ! May Dept 5t.... 31 30% 30% 31 Mont Ward . ... 27% 26% 26% 27% Penny J C .. . 46% 45% 45% 48% Safeway St 57% 56 56% 57 Sears ftoebuck.. 44 1 * 42% 43' 44 Woolworth .. .. 49% 48% 48% 48% Aviation— Aviation Corp.. 15% 14% 14% 15 Douglass Air . 17% 16\ 16% 17% Curtiss Wright.. 4% 4 4% 4% Curtiss Wright A 7% 7 7 7% Nor Am Av .... 8% 8 8 8% United Aircraft.. 42 40% 40% 41% Chemicals— Air Reduction ..101% 99% 101 100% Allied Chem . .134% 127% 130% 129% Am Com Alcohol. 79 72% 74% 74% i Col Carbon .... 66% 64 66% 67% Com Solvents.. 43% 40 s a 40% 40% Du Pont 82% 79% 80% 80% Freeport Tex... 40 38% 39% 40% Liquid Carb .... 45% 43 43% 43 Math Alkali. . 37% 35% 37% 37% Tex Gulf Sulph. 34 33% 33 % 34% Union Carbide 46% 44 44% 44% U S I%dus Alco.. 91 84% 85% 87% Natl Distil 115% 112 Ill's 114 Drugs Cotv Inc ... 6% 6% Drug Inc 55% 54 34% 54% Lambert 38% 37% 37% 38 Lehn A- Fink . 22% 22% 22% 22% Zonite Prod .... 8% 7% 8 8% Financial— Adams Exp 12% 12% 12% 13 Allegheny Corp. 7% 7% 7% 7% Chesa Corp 48 47 47% 48 Transamerica . 8% 8% 8% 8% Tr Conti Corp,. 8% 7% 8 8% Building— Am Radiator ... 18 17% )"% 17% Gen Asphalt . .21% 21 21% 21% Int Cement .. 37% 37 37% 37% Johns Manville.. 56 54 55 56 Llbbv Owens Gls 32 30% 31 31% Otis'F.lev . 23% 22% 22% 23% Ulen Const. .... 4% 4% 4% 4% Miscellaneous— Am Bank Note . 28 27 27 28 Am Can 95% 92% 92% 94% Anchor Cap . . . 31% 29% 30% 29 Brklvn Man Tr 40 39 40 39% Conti Can 63% 62 62% 62% Eastman Kodak. 89% 86% 86% 85% I Owens Bottle ... 93% 91% 91% 92% Gillette 17% 16% 17% 16% Gildden 16% 16 16 16% .Gotham Stlk ... 17% 15% 16% 15% Indus Rayon .76 68% 73 67% ' Inter Rapid Tr. 9% 8% 9% 8% I Real Silk Hose . 17% 16% 16% 16% Investment Trust Shares —July .4 IBv Abbott, rioppin fz Cos.) American Bank Stocks Corp ... 1.26 1.44 American A- General Sec iA>.. 5.50 6.50 Basic Industry Shares 3 76 British Type Inv Tr Sh 85 .90 Collateral Trustee Sh 'A' 5.25 5.62 Corporate Trust Shares i old.. 2 45 .... Corporate Trust Shares mewi.. 265 2.72 Cumulative Trust Shares .4 62 ... Diversified Trust Shares (A).... 6 50 ... Diversified Trust Sh -B 1 9 25 9 50 Diversified Trust Sh iC> 3 5 3.62 Diversified Trust Sh iD' 5 75 6 00 First Insurance Stock Corp ... 168 1.98 First Common Stock Corp. 126 1.44 Fixed Trust Oil Shares (A).... 9 25 .... Fixed Trust Oil Shares i8i.... 8 25 Fundamental Trust Shares (A) 4 62 .... Fundamental Tr Shares (B). ... 4 37 .... Low Priced Shares 7 25 Mass Invest Trust Shares 20.35 22.11 Nation Wide Securities 4.06 .... North Amer Tr Shares i1953i.. 200 .... No Am Tr Shares , 55- 56) 2.75 310 Selected American Shares 307 .... Selected Cumulative Shares. ... 7.71 Selected Income Shares 413 423 Std Amer Trust Shares 345 350 Super Amer Tr Sh ,A> 3 33 Tmst Shares of America 329 334 Trustee Std Oil At 540 555 Trustee Std Oil >B) 490 505 H s Electric Light A- Pwr >A> 17.00 Universal Trust Shares 330 3.40 In the Cotton Markets —July 14— CHICAGO High. Low. Close. J* arch 12 29 12.15 12 22 July 11 52 S£ !ob, r ”. i1 92 1 i.55 1182 December 12.12 11.73 11.99 , NEW YORK January n.06 11 72 11.97 a J arcl l 12.21 11.82 12.12 V ,a >' 12 36 11 96 12.27 iP}y 11 50 11 23 11.44 OctnbtT nB2 11 44 11.68 December .. 12 00 11.60 11 88 . new ORLEANS January 120s 1174 1135 March 12 21 ti 93 12 O 6 May . 1230 n.93 12.20 Julv 11 58 11 43 11.50 October 11 83 11 43 11 67 December 11.93 11.58 11.86

UNEVEN TREND MARKS ACTION IN STOCK MART Heavy Profit-Taking Near End of Session Turns List Down. Average Stock Prices Average of thirty industrials for Thursday, hieh 107,74. low 104 54. last 105.51. up 96 Average of twenty rails 56 94 54.59. 55 52. tin 122 Averaze of twenty utilities 38 98 37.11, 37 73. up .87. Averaze of forty bonds 83 41. up .68. Averaze of ten first rails 92.99. up .18. Averaze of ten second rails 76 84. uo 1.89. Averaze of ten utilities 95.10. up .18. Average of ten industrials 88.72. up .97. BY ELMER C. WALZER United Press Financial Editor NEW YORK, July 15. Heavy profit-taking turned stocks irregular Friday on the Stock and Curb Exchanges, while bonds advanced; wheat gained 2 to 4 cents a bushel; cotton gained $1 a bale; and the dollar firmed up moderately. Trading in stocks was lighter than Thursday although trading was above the 5.000.000-share mark. Several issues had large turnover on huge blocks, notably International Telephone and Packard, both of which made new highs for the year. Repeal Stocks Active The repeal stocks again were very active, but as the time approached for Arkansas and Alabama to vote on repeal traders took profits in large amounts. Late in the day the alcohol issues were off small amounts. On the curb one issue—United Molasses—had a turnover of 329,000 shares out of the 1,444.000 turnover of the entire curb list. Sugar shares were bid up late, with Great Western making anew high and South Porto Rico equaling its high. Sugar futures eased off a few points today. Rubber futures ruled firm and the tire issues extended their gains. Armour issues were carried to new’ highs with the preferred at one time 12 points above the previous close on strength of the company s new' capitalization plan and increased earnings. Rails Turn Weak Carrier shares made fair gains in the mid-afteroon trading, but turned irregular as the close approached. Car loadings for the week ended July 8, to be announced Saturday, are expected to show a substantial increase over the 1932 week, although the rise is expected to be smaller than that of the preceding week. Chemical shares were whirled up for a time when Allied Chemical crossed 132 for a gain of more than 7 points. It later reacted as did others of the chemical group. Monsanto made a new' top for the year. Among special issues to register broad advances were Cerro de Pasco, International silver issues, Industrial Rayon, Wilson preferred, O. S. Smelting and Westinghouse Electric. The latter ran into heavy selling after making anew high for the year. Bank Clearings INDIANAPOI.IS STATEMENT —July 14— Clearings 51,940.000 00 Debits 5,253.000 TREASURY STATEMENT —July 14— Net, balance for July 12.... $865,361,702.87 Misc. int. rev. rects 3.621.566.58 Customs rects.. mo to date. 7,188.951.14 New York Curb —July 14— Close. Close. Alum Cos of Am 84 Inti Ptrol 18 Am Bev 3 (Lake Shor Min 39% Am Ct Pw & L, 852 Lone Star Gas.. 15 Am Cyan B. .. . 13%|Mount Prod.... 6 Am & For Pwr 12U Nat Bellas Hess 4% Am Gas & El.. 44%: Nias Hud Pwr. . 13% Am Sup Pwr.. 7% Pan Am Airways 52 Ark Natl Pwr A 2% Parker Rstprf. . 62 Ass Gas A. .. 2 Pennroad 5% Atlas Ut Crp... 17 j Pioneer Gld Min 12% Braz Tr A- Lt.. 17 ist. Regis Paper 7% Can Marconi... 3’*jSalt Creek Prod 7% Cent Sts E 1.... 3\ Segal Lock .... 1% Cities Serv .... 4%'St.d Oil of Ind.. 33 Comm Edison.. 71 Std Oil of Kv.. 19 Cord 14% Stutz 18% EislerElec. . . . 1% Translux 3% El Bnd A Rh.. 37% United Founders 2% Ford of Eng.. 6% United Gas .... 5% Ford Mot Can.. 14% Un Lt & Pw A 7% Hudson Bav Min 9% United Verde . . 4% Imperial Oil. , . . 14% Woolworth Lmtd 19% Irving Airchute 6% Wright Harg 6% Deaths Mary E Lomax 82, city hosiptal. cerebral concussion. Donald H. Maroney, 6. Methodist hospital. septir.eomia. William Henry Glass. 64. 1905 Talbott, acute cardiac dilatation. Bessie Virginia Graves. 9. enroute to Riley hospital, fractured skull. Mark Armour, 20, city hospital, fractured skull.

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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 ,icd selling inquiries or recent transactions. —July 14— STOCKS • Bid. Ask. Belt Rail A- S'ock Yards, com. 26 30 Beit Rail A Stock Yds pfd 6% 45 50 Cent Ind Pwr pfd 7% 13 16 Citizens Gas com 14 17 Citizens Gas Cos pfd 5% 63 67 Heme T A T Ft Wavne pfd 7% 36 40 Ind A- Mich Elec Cos pfd 7%.. 68 73 Ind Gen Service Cos pfd 6%.. 62 66 Ind Hydro Elec Cos 7% 27 30 Indpls Gas Cos com 40 44 Indpls Pwr A Li pfd 6", 60 64 Indpls Pwr A Lt Cos pfd 6%% 69 73 Indpls Water Cos prd No Ind Pub Serv Cos pfd 5%% 37 41 No Ind Pub Serv Cos 6% 38 42 No Ind Pub Serv Cos 7%.... 43 47 Public Serv Cos of Ind pfd 6% 15 29 Public Serv Cos of Ind pfd 7% 37% 41% South Ind Gas A E! pfd 6%.. 56 60 Terre Haute Elec pfd 6% 40 43 BONDS Belt R R A Stkvds 4s 1939... 88 92 Citizens Gas Cos 5s 1942 . .80 84 Home T A W 5%s 1955 96 100 Home T A T W 6s 1943 98 102 Indpls Gas Cos 5s 1952 75 78 Indpls Rvs Inc ss. 1967 27 30 Indpls W'ater Cos 4%s 1940.... 98 101 Indpls Water Cos 5s 1960 93 97 Indpls W'ater Cos 5s 1970 92 96 Indpls Water Cos 5%s 1953 100 103 Indpls Water Cos 5%s 1954 100 103 Kokomo Wat Works 5s 1958... 74 78 Lafavette Tel C'o 5s 1957 33 87 Muneie Water Works 5s 1939.. 90 94 Richmond Water Works 1957.. 84 88 Terre Haute W'ater 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 46 49 Burlington 5% 37 40 California 5% 55 58 •Chicago 5% 26 29 Dallas 5% 53 56 S env ?r ? ' 52 55 Des Moines 5% 50% 54% First Carolina 5% 35 38 First Ft. W'ayne 5% 52 55 First Montgomery 5% 38% 41% First New Orleans 5% 37 41 First Texas 5% 49 52 First Tr Chicago 5% 55 58% Fletcher 5% 69 73 Freemont 5% 58 61 Greenbrier 5% 58 61 Greensboro 5% 47 50 Illinois Monticello 5% 60% 63% Illinois-Midwest 5% 43 46 Indianapolis 5% 77 81 lowa 5% 57 go Kentucky 5% 61 64 Lafavette 5% 50 53 Lincoln 59- 52 55 Louisville 5% 52 55 Maryland-Virginia 5% 67 70 Mississippi 5% 45 48 New York 5% 48 51 North Carolina 5% 40 43 Oregon Washington 5% 38 41 Pacific Portland 5% 47 50 Pacific Salt Lake 5% 50 53 Pacific'San Francisco 5% 50 53 Pennsylvania 5% 53 57 Phoenix 5% fig 74 Potomac 5 9- 50 53 •St. Louis 5% 25 28 San Antonio 5% 55 58 •Southern Minnesota 5% 15 18 Southwest 5% 41 44 Union Detroit 5 90 51 54 Union Louisville 5% 52% 56% Virginia Carolina 5% 43 46 Virginian 5% 53 56 •Flat. Liberty Bonds Bp United Press NEW YORK, July 14.—Closing Liberty bonds: (Decimals Represent 32nd's). Liberty 3%s 132-47) 102.23 Liberty p’irsts .'is (32-471 102.3 Liberty Fourths 4'is (33-381 102.28 Treasury 4Vis (47-52) 110.2 Treasury 4s (44-541 106.13 Treasury 3%s (46-56> 104.29 Treasury 3%s (43-471 102.19 Treasury 3%s (41-431 March 102.16 Treasury 3%s (40-431 June 102.12 Treasury 3%s (46-49) 100.11 Treasury 3s (51-55) 99.2 Daily Price Index Bp T inted Press NEW YORK, July 14.—Dun A Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United (1930-1932 Average. 100) Today 110.41 Thursday . 109.96 Week Ago 104.55 Month Ago 92.06 Year Ago 74.83 1933 High (Julv 141 110.41 1933 Low (Jan. 201 67.86 (Copyright. 133, by Dun A Bradstreet. Inc. Produce Markets Delivered In Indiangpolis prices: Hens, heavy breeds over 4% lbs.. 10c: Leghorns. 7c. Broilers: Colored springers. 1% lbs. up. 14c; springers (Leghorn). 1% lbs. up, 11c: barebacks. 7c: cocks and stags. 6c: Leghorn cocks and Leghorn stags. sc. Ducks, large white, xuii 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. 1 iresh country run eggs. 12c. Each full egg c * s^„ must w , €I Rh 55 lbs. gross; a deduction of 10c per lb. for each lb. under 55 lbs. gross will be made. Butter—No. 1 27® ? 8c Vv, No W 2 ', 2Gc ',~ Butterfat—l9c. Quoted by the Wadlev Company. BY UNITED PRESS CHICAGO. July 14. Eggs—Market, steady; prices % cent lower to % cent receipts. 8.537 cases; extra firsts. 14@14%c; firsts, 13®13V*c: current receipts. 11 @l2Vic: dirties. 10%c. Butter— Market easy: prices unchanged to % cent higher: receipts. 17.544 tubs: specials. 24% £25%c: extras. 24%c: extra firsts, 23® 23%c: firsts. 22®.22%c; seconds. 20®21c: standards, 24%c. Poultry—Market steady; receipts, 34 trucks; fowls. 11c: leghorn broilers. 10%c: leghorns. 9c: ducks. 7® 9c: geese. 8®10c: turkevs. 10® 11c; roosters 8c: broilers. 12®20c. Cheese—Twins. 13% ®l3%c; longhorns. 13%@14c. PotatoesOn track. 318: arrivals. 154: shipments, 605: market, weak: Kansas and Missouri, sacked cobblers. $2.95®3: Missouri sacked earlv Ohios. $2.45. CLEVELAND. July 14. —Butter—Market, easy: extras. 28%c; standards. 21%c: pound in tubs. Eggs—Market, steady; extras. 17c: current receipts. 12%c: extra firsts. 13c. Poultry—Market, firm: heavy fowl, 13® 14c; leghorn fowl. 10® 11c; heavy broilers. 16019 c; leghorn broilers. 10® 13c; ducks. 7® 10c; old roosters. Bc. Potatoes—Virgina stave barrels. U. S, No. 1. cobblers. $5.25®5.50. Births Bovs Frank and Frances Cesark. 1104 Windsor. Raymond and Mildred Barnes. Coleman hospital. James and Josephine Fleener. Coleman hospital. Girls Albert and Mary Kellar. 1245 West New York. Keith and Margaret Smith. Methodist hospital.

LIGHT DEMAND SENDS PORKER PRIDES LOWER Cattle Active and Steady in Previous Range; Sheep Firm. Hogs settled down in a lower range Friday at the city yards after a long interval of uncertainty. Buyers and sellers could not agree early on a common range of prices. Market as finally established was 15 to 20 -cents off on weights from 160 pounds up and 25 to 35 cents lower I on underweights. Weights of 160 to 200 pounds brought $4.60 to $4.65; 200 to 300 pounds. $4.70 to $4.75; 300 pounds up. $4.50 to $4.60; 140 to 160 pounds. $3.85 to $4; 100 to 140 pounds, $3 to $3.60. Receipts were estimated at 7.500. Holdovers were 273. Slaughter class cattle were steady, a few steers selling at $4.25 to $6.40. One load of heifers brought $5.75 with the bulk selling under $5. Cows made the market at $2.75 to $3.50 largely. Receipts were 300. Vealers were 50 cents higher at $6.50 down. Calf receipts numbered 500. - Little change was noted in the sheep market. Bulk of good lambs sold for $7 to $7.50, with several at $7.75. Receipts were 600. At Chicago swine exhibited the same sluggish action apparent here. Asking was stronger than Thursday’s average with scattered bids fully 10 cents lower than the previous range. Good to choice 200 to 250-pounders received bids of $4.60. Asking was above $4.70 for the best medium weights. Hog receipts were 25.000. including 13.000 direct. Holdovers were 3,000. Cattle and calf markets were strong with receipts of 2.000 and 1.000, respectively. Sheep were firm with 6,000 new arrivals. noGS J 7 ly- nr,-- , n „ u ' k - Top. Receipts. o' $4 ) 7 "^ 4 ; 8 - 54 85 9.000 in' 4 75 3 500 i? - i 4 65 6.000 11. 4.65® 4.80 4 80 6,500 i I'Zsf 4 88 4 95 8.000 3' 4 95 8 000 14. 4.60® 4.75 4.75 7,500 ..... , Lambs, Lower. 1140-160) Good and choice. $ 3.85® 4.10 —Light Weights—--1160-180) Good and choice.. 4.60 (180-200) Good and choice. 4.65 —Medium Weights—-(2oo-2201 Good and choice.. 470 (220-250) Good and choice., 4.700 475 „ —Heavy Weights—--1250-2901 Good and choice.. 4.70 (200-250) Good and choice.. 4.600 470 —Packing Sows—(3so down) Good 3 25® 4 00 r / 25 .9 UP) Good 3.00® 3.75 (All weights) Medium 2.75® 3 25 —Slaughter Pigs—-(loo-130) Good and choice..,. 3.00% 3.25 CATTLE Receipts, 30ft; market, steady (1.050-1,1001 Good and choice $ 5.50® 700 Common and medium 4.25® 5.50 (1,100-1,5001-Good and choice 5.50® 700 Medium ' 4.25® 5.25 —Heifers—-(sso-750) Good and choice 5.00® 6,00 Common and medium 3.25® 5 00 (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. 500; market, higher Good and choice $ 6.00® 650 Medium 4.50® 6.00 Cull and common 3.00® 4.50 —Calves—-(2so-500) Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-800) Good and choice 4.50® 5.75 Common and medium 3.00® 4.50 (800-1.500) Good and choice 4.75® 5.75 Common and medium 3.00@ 4.50 SHEEP AND LAMBS Receipts. 600: market, steady, —Lambs, Shorn Basis—--190 lbs. downi good A choice.s 6.50® 7.75 (90 lbs. down) com. and mod. 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, July 14.—Hogs—Receipts, 25.000 including 13,000 direct; slow, generally 5® 10c lower than Thursday; 200290 lbs., [email protected]; top $4.70; 140-190 lbs., $4®4.40; pigs, $3.25®3.75; most packing sows, $3.65®4.10; light lights 140-160 lbs., good and choice, $3.90®4.40; light weight 160-200 lbs., good and choice, $4.25 (&4.60; medium weights. 200-250 lbs., good and choice. $4.55®4.70: heavy weights, 250350 lbs., good and choice $4.40-4.60: packings sows. 275-550 lbs., medium and good, $3.600 4.25; slaughter pigs. 100-130 lbs., good and choice. $3.15® 3.90. Cattle—Receipts, 2,000; calves. 1.000; fed steers and yearlings closing the'week fully steady; supply small; hulk $5.25® 6.25: short load, $6.75; other killing classes slow-, mostly steady to weak wuth bulls 15 under high time; practical top weighty sausage bulls, $4: good to choice vealers. $5.50 a few S6: bulk mostly $4.50® 5: slaughter cattle and vealers: steers 550-900 lbs. good and choice $5.7507.25; 900-I,iOO lbs.. good and choice. $5.7507.50: 1.100%1,300 lbs., good and choice. $5.7507.05: 1.300-1,500 lbs. good and choice. $5.7507.50: 50-1,300 lbs. common and medium, $3.0®6; heifers. 550750 lbs., good and choice. $5.2506.25; common and medium $3.250 5.50; cows good. $3.50®'4: common and medium, 52.75® 3.50; low cutter, $1.75® 2.75; bulls ivearlings excluded) good (beef), $3.50®, •f.25; cutter common and medium. $2.75®, 4.10; vealers. good and choice, $506: medium. S4O 5; cull and common. s3® 4: stocker and feeder cattle: steers 500-1.050 lbs., good and choice. $4.50 06; common and medium, $3®4.50. Sheep—Receipts, 6.000; lambs active, steady to strong; spots 25c. higher on only choice natives with weight; packers bidding largely $7.50; shippers and small killers competing at $7.75 upwards, top $8; yearlings and sneep steady: slaughter sheep and lambs: lambs 90 lbs. down, good and choic. $6.50®8: common and medium $3.750 6.75: ewes 90-150 lbs., good and choice. $1.2502.75; all weights common and medium. sl@ 1.75. PITTSBURGH, July 14 Cattle—Receipts, 30; market, steady. Hogs —Receipts, 2,000; market lower: prime heavies, 240-300 $5.150 5.25: heavv mixed, 210-240 lbs.. ss® 5.25: mediums. 180-210 lbs.. ss® 5.25; heavy Yorkers. ss® 5.25; light Yorkers. 120-140 lbs.. $4.250 4.50; pigs. 90-115 lbs.. $3.50® 4: roughs, $3®3.75. Sheep and lambs—Receipts, 1,000: market lower: lambs, good to choice, 90 lbs. down. $7.50®7.75; few choice. $8: medium, 90 lbs. down. $6.50® 7.25; medium, 91 lbs. up, $4.50® 5.25; sheep, wethers, prime, $2,60® 2.75; fair to good. $1.750 2; ewes, medium to choice. $lO 1.50. Calves—Receipts. 150: market, higher; vealers good. $6.50®7; medium, $5 @a.so; heavy and thin, s3®4. EAST ST LOUIS. 111.. Julv 14 —Hogs— Receipts. 12.500: including 3.000 direct: market. 15® 25c under Thursday’s average; top. $4.65. bulk. 180-300 lbs., $4.500 4.60; 150-170 lbs. $404.50: 130-150 lbs., $3.50®. 4.10; 100-138 lbs.. $2.7503.50: sows, $3.65® 3.85. Cattle—Receipts. 1,000; calves. 800; market, small lots of steers, mixed yearlings and heifers steady: cows, 10® 15c lower; bulls, 15®25c lower: vealers, 25c lower; steers. $5®5.75: mixed vearlings and heifers. ss®6: cows. $2.6503.35: low cutters. $1.50®1.85: practical top sausage bulls. $3.50: good ana choice vealers. $5.50: slaughter steers. 550-1,100 lbs., good and choice. $5.75®7: common and medium. $3.500 5.75; 1.100-1.500 lbs., choice. $6 50®) 7; good. $5.750 6.0: medium, $4.50® 5.75. Sheep—Receipts. 1,800: market, steady to strong: top lambs to city butchers, $7.75; bulk to packers, $7 25® 7.50; buck lambs, $1 less: throwouts, $3.50: fat ewes were. $1 0 2.75: lambs. 90 lbs. dfewn, good and choice. $7®7.75: common and medium. $3.5007: yearling wethers. 90-110 lbs., good and choice. $4.75® 5 50: ewes, 90-150 lbs., good and choice. $1.50® 27: all weights, common and medium. $102.25. EAST BUFFALO. N Y„ July 14.—Hogs on sale—Receipts. 1.200 active, uneven?)’ s'jpady to 10c lower: 'mail bunch fancy at 22v-lb average $5.35: bulk. 175-250 lbs. $0 )5®5 25: 160 lbs. down. 5404.75 Cattle —Receipts, 150: steady, mostly cows, no steers or heifers offered: cutter and low cutter cows largely $1.50® 2.50: fat cows. $3®3.00: most bulls. S3® 3 50. Calves—Receipt. 400: active, generally steady; good to choice. $6.50 to mostly $7: odd heads slightly higher, medium $5 50® 6: cull and common. s4® 5.50. Sheep—Receipts. 500; holdovers. 300: generally steady, fairly ac- I tire to city butchers; not enough good lambs to interest eastern buyers: most top ewes and wethers selling with lenient sort at $8.50; some bucks and ends at $8; me- , dium and bucks largely $6 50®7.50; com-1 mon. S3 5005.50. LAFAYETTE. Julr 34.—Hogs—Market. 15 5 20c lower 200-300 lbs. $4.550 4 60; 300325 lbs $4.40: 170-200 lbs $4 4004 50-140-170 lbs $3 60® 3 90; 100-140 ibs . $2 70 ®3 30 roughs. $3 58 down; top calves, $5.50; top iambs. $6.75, '

Radio Dial Twisters

—5:45 P. M NBC—John Pierce, tenor to WEAF. —6 P. M KYW (1020'--Three Strings. Fisher's orchestra. CBS- Evan Evans, baritone NBC—Ships of Joy to WEAF WENR 'Bioi—Buddy Rogers orchestra. WGN (7201—Kemp s orchestra. NBC —Denny's orchestra to WJZ. —6:ts P. M CBS— Belasco s orchestra. WBBM < 770 < —Hamo s orchestra. NBC—Misca Levitzki, pianist to WEAF. WLS i870)-*-Coileze Inn orchestra. —6:3ft P. M.— CBS—Philadelphia orchestra concert. NBC—Pedro Gia orchestra to WEAF. WGN (720) Seven League Boots. NBC Philharmonic Symphony to WJZ. WLS (870) —Barn dance. WSM *6so'—Sunday school, and orchestra. WSM (650) —Barn Dance. WGN 1720)—Jan Garber's or chestra. —6:45 P. M—WBBM 17701 —Ted Lewis' orchestra. NBC—Antobal's Cubans to WE.': F. WGN (720) —Cole s orchestra —7 P. M WBBM (770)—Phil Harris Revue. WON (720) —McCoy's orchestra. WLS (870) Barn dance frolic. —7:15 P. M.— CBS—Ann Leaf and Charles Carlile. WBBM (770)—Arnheim's orchestra. NBC—Quartet to WEAF. WGN (720 I—Old Favorites. WMAQ (670) —Weems orchestra.

WFBM (1230) Indianapolis (Indianapolis Power and Light Company) SATURDAY P.M. s:3o—Casa Loma orchestra (CBS). 6:oo—Evan Evans iCBS). 6:ls—Rhythm Rascals. 6:3o—Philadelphia summer concert (CBS'. 7:ls—Ann Leaf iCBS). 7:4s—Saturday Revue (CBS). B:ls—lsham Jones orchestra (CBS). B:4s—Gertrude Niesen (CBS). 9:oo—Jerry Freeman orchestra (CBS'. 9:3o—Charlie Davis orchestra iCBS). 10:00—Barney Rapp orchestra (CBS> 10:30—Gus Arnheim orchestra (CBS). 11:00—Sign off. SUNDAY A. M. 8:00—Melody Parade (CBS). B:4s—Leo Lingo and Polly iCBS). 9:oo—Entertainers. 9:3o—Christian Men Builders. 10:30 to Noon—Silent. 12:00 Noon—Did You Know? P. M. 12:15—Playboys (CBSi, 12:30—Records. I:3o—Symphonic hour (CBS). 2:oo—Cathedral hour iCBS). 3:oo—Poet's Gold iCBSi. 3:ls—Bright Interlude iCBSi. 3:3o—Bakers (CBS). 4:oo—Wheeler Rescue Mission program. 4:3o—Chicago Knights (CBS). s:oo—Vera Van (CBS). s:ls—Gauchos ICBSi. s:4s—Gertrude Niesen (CBS). 6 00—Hale Mac Keen. ® ; ls—Variety program (C'BS). 6:30--Philadelphia orchestra summer concert (CBS). B:ls—John Henry (CBS). 8 30—Rhym Rhapsody iCBS). 9:oo—Guy Lombardo and Royal Canadians -ICBSi. ,9 30—Jerry Freeman orchestra (CBS). !n'2x“~i? h J at P Jones orchestra (CBS). iV'Sx —T ed Le "is orchestra (CBS), il :0° Around the Town from Chicago 12:00 Midnight— Sign off. WKBF (1400) Indianapolis (Indianapolis Broadcasting. Inc.) n SATURDAY P. M. s:ofi —Dinner melodies. s:3o—Mirth parade. nn as^ rs , music room. 6.oo—Knothole gang 6:ls—Dinner dances. 6:3o—Cecil and Sally. 6:4s—The sportslight. 7:oo—Devore sisters. 7:ls —Ambassadors. 7:3o—Evening moods. B:oo—Mirth parade. 8:15—Bill Warren. B:3o—Trio. 8 45—Charles Frederick Lindslev. 9:oo—Marvel Myers. 9:15 —Shorty Phillips orchestra, 9:30—80b McKettrick's orchestra. 10:00—Gordon Carper's orchestra. 10:00—WKBF barn dance. 11:30—Sign off. SUNDAY A. M. 9:3o—Ambassadors. 9:4s—Masters music room. 10:00—Watchtower program. 10:15—Classical gems. 10:30—Crystal melodies. 11:30—Harry Bason 12:00 Noon—Dessa Bvrd's organ recital. P. M. 12:30—American melodies. I:oo—Strange adventures. I:ls—Musical comedv gems. I:3o—lndianapolis vs. St. Paul baseball game. 3:30 —Cadle Tabernacle. 4:4s—Nazarine male auartet. s:oo—Starost sisters. s:ls—Conte ensemble. s:4s—Marshall players. 6:oo—Concert hour. 6:4s—Dick Harold. 7:oo—Mirth parade. 7:ls—Masters music room. 7:3o—Moods of the moment. 7:4s—Orchestra. B:oo—Cadle Tabernacle. 9:ls—Shorty Phillips orchestra. 9:30—80b McKettrick’s orchestra. 10:00—Gordon Carper's orchestra. 10:30—Sign off. Chicago Stocks ■ By Abbott. Hopplr. A Cos. 1 ' " ” TOTAL SALES, 212,000 —July 14High. Low. Close. Acme SteeDCo . •• ■ 37% Allied Products 18 % 18 18 Altorfer Bros 10% 9% 10% Asbestos Mfg . 4% 4% 4% Associated Tel A Tel A .. ... 3% Assoc Telephone Util.. . ... % Assoc Tel Util 6% pfd 2% Associates Inv Cos 4o Bastian-Blesstng' 12% 12 12 Bendix Aviation 20 19% 19% Binks Mfg 4 2% 4 Borg Warner 20 19% 19% Brach A Sons 8 E L Bruce Cos 16 15% 15% Butler Bros 5% 5% 5% Birghoff 15% 13% 15% Cent 111 Pub Serv pfd. 25% 25 25% Cent 111 Securities com 1% Cent A So West 3% 3% 3% Chi A North Western 15% 14% 15 Chi City A Con Rys .. % Chicago Corp com .... 4% 4% 4% Chicago Corp pfd ... . 30% 30% 30% Chicago Flexible Shaft 11% 11 11% Chicago Yellow Cab .... 12% 12% 12% Cities Service 4% 4% 4% Commonwealth Edison. 72 70% 70% Consumers % % % Continental Steel ... 10 Cord Corp 15 14% 14% Crane Cos 10% 10*2 10% Crane Cos. pfd ... 15 DeMets. Inc.. Pfnce . 13% Dexter Cos 8 7% 8 Electric Household ... 12 Fitzsimmons A Connell 12 General Candy Corp... 4% 3% 4% Godchaux B 12 9% 11% Goldblatt Bros ... 24% Great Lakes Aircraft .. 1% 1 1% Great Lakes Dredge , 17% 17 17 Greyhound Corp 1 •% 3 4 Grigsbv-Grunow 4% 3% 4 Hall Printing 8% 8% 8% Hormel A Cos 23 21 23 Houdaille-Hershey A .14 12% 13% Houdaille-Hershev B . 6% 5% 6 'lllinois Brick 6% Jefferson Elec ... 12 Kellogg Switch, com .. 16 14% 14*4 Kv. Ut Jr Cum pfd 22 Keystone S'eel ,15% 15 15 Libbv-McNeil . 7% 6% 6% Lindsay Light . 4% Lion Oil Refining Cos 8 Lynch Corp 37 36% 36% Marshall Field 17% 16% 16% McGraw Electric 5 4% 5 McQuay Norris 43% Mickelberrv's Food Prod 6% 6% 6% Middle West Utilities .. % % % Midland United 1% Midland United pfd . . .. ... 2% Modine 14% 14 14% Muskegon Mot Spec A. 9 7 9 National Leather 2% 2% 2% National Standard ... 21 National Union Radio.. .. ... 1% Noblitt Sparks Ind Inc. 29% 28% 29% North American Car .... ... No Amer Light A Pwr. .. ... j>*s Northwest Bancorp ... 9% 9% 9% No West Util 7*-; pfd 5 4 Pines Winterfront 3% 3% 3% Potter Cos 2% 2% 2% Prima Cos 26% 25 25 Public Service ... 40 Public Service N P 42 41 42 Public Service 6% pfd. 73% 73 73 Quaker Oats ... 141 Quaker Oats pfd 15 114% 115 Railroad Shares 1% 1% 1% Rath Packing 25% 29 25 Reliance International. 4 3% 4 Reliance Mfg Cos 16% 16 16 St Louis Nat Stock Yds .. .. 41% Seaboard Utilities Shares 1 % % Sears Roebuck 44 43 43% Southern Union Gas ... ... % So West G A El pfd 50 S'andard Dredging Cos p 4 Studebaker Mall iA> ... % Swift ACo 24% 21% 23 Swift Internaclonal 32 28% 30% Thompson. J R 12% 12 12 United Printers A Pubs .. ... 1% Utah Radio 2 1% 1% Utility A Ind 2% 2% 2% Utility A Ind pfd 6 5% 6 Vortex Cup Cos 9 8% 8% Wahl 2% 2 2Vi Walgreen Cos com . . 20%z 20 20 Ward Montgomery (A).. .. 80 Wayne Pump com ... 1% wavne Pump pfd ... 4% Wieboldt Stores 13% 12% 13% Zenith Radio 2% 2% 2%

SATURDAY —7:30 P. M ) WBBM (770! —Grier's orchestra. NBC—K-7 Spy Story to WEAF. WGN 720)—Wayne King's orchestra. —7:45 P M ■ CBS—Berren s Saturday Re--1 vue. ’WBBM 1770 > Harris’ or- | chestra —8 P. M • NBC—R o 1 f e 's Saturday 1 Night Dancing Party to WEAF. .WBBM i77o)—Russell's or- ! chestra. WGN (720)—Lewis White 1 —8:15 P. M ( KYW 11020)—Globe Trotter. CBS—lsham Jones orchestra ’ WBBM 1770)—Gerun's orchestra. WGN < 720 •—Coles' orchesI tra. NBC—Mixed Sextet to WJZ. —8:30 P. M r NBC —Cuckoos to WJZ. —8:15 P. M.— CHS—Gertrude Niesen. . WBBM 17701—Ted Lewis and : orchestra. ’ WGN (720)—Concert orchesj trn. —9 P. M vVW (1020)—Sports; Gloves' orchestra. .CBS—Jerry Freeman's or- | chestra. , NBC—Rudy Vallee's orchestra to WEAF AVON 17201 —McCoy's or--1 chestra: dream Ship. ; NBC—Male Trio to WJZ. —9:15 P. M.— NBC—John Fogarty, tenor to WJZ. WLS (870' —Barn dance. j ■ WMAQ (670) —Congress orchestra.

WLW (700) Cincinnati SATURDAY P. M. 4:oo—Viennese ensemble (NBC). 4:3o—Joe Emerson, baritone. 4:4s—Riff Bros. s:oo—Park Central orchestra (NBC). 5:30—80b Newhall. 5 45—Gene Burchell's dance orchestra (NBC). 6 15—Tonv Cabooch. 6:3o—Cab Calloway's dance orchestra. 6:4s—Dr. J Holbert Bvram and Lloyd Shaffer dance orchestra. 7:OO—R. F. D. hour. 7:3o—Croslev follies. B:oo—Saturday night dancing party, with B. A. Rolfe orchestra INBCI. 9:oo—Cab Calloway's dance orchestra. 9:ls—Over the Rhine. 9:3o—Chester park dance orchestra. 10:00—Rhythm Club. 10:30—Ace Brigode and his fourteen Virginians. 11:00—Golden Pheasant orchestra (NBC). 11:30—Lotus Gardens orchestra INBCI. 12:00 Midneiht—Cab Calloway's dance orchestra. A. M. 12:30—Dave Bernies dance orchestra. I:oft—Club Croslev. 2:oo—Sign off. SUNDAY A. M. 7:oo—Children's hour INBCI. B:oo—Church Forum. B:3o—Alfredos marimba band iNBC). 9:oo—Morning musical? (NBC). 10:00—Organ. Arthur Chandler, Jr. 10:15—Radio City Concert (NBC). 11:15—Threesome and organ. 11:30- -Folks from Dixie INBCI. 12 Noon—Summer Idyll (NBC). P. M. 12:15—lnt l Radia Forum INBCI. 12:30—Dramatization (NBC'. I:oo—Wavne King orchestra iNBC). I:3o—Theatre of the Air. 2:oo—Conservatory of Music recital. 2:ls—Mariemont choir. 2:3o—Temple of Song iNBC'. 3:OO—J. Alfred Schcehl. organist. 3:3o—Clyde Doerr's saxophone octet (NBC). 3:4s—Trio Romanticiue (NBC). 4:oo—Hymn Sing. 4:3o—LHeure Exouise (NBC). 4:4s—Baseball scores. 4:so—Charioteers. s:oo—Borrah Mmnevitehc and his Harmonica Rascals (NBC). s:ls—Gene Burchell's dance orchestra. s:3o—Russian Symphonic Choir <NBC>. 6:oo—Bert Lahr A Rubinoff's orchestra (NBC). 7:oo—Revellers ouartet A A1 Goodman's orchestra (NBC). 7:3o—Symphonic Jazz orchestra. B:oo—Gene Burchell's dance orchestra. 8:15 —Vincent Lopez and his orchestra 1NBC). B:4s—Castle Farm dance orchestra. 9:ls—Flovd Gibbdns (NBC). 9:3o—Coney Island orchestra. 10:00 —Dance Nocturne orchestra. 10:30—Chester Park dance orchestra. 11:00—Lotus Gardens orchestra iNBC). 11:30—Golden Pheasant, orchestra (NBC). 12:00—Mid.—Castle Farm orchestra. A. M. 12:30—Sign off. Indianapolis Cash Grain —July 14— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, basis 41 % New York rate, were: Wheat—Strong: No, 1 red, 99c® $1.02: No. 2 red, 98c®$1.01; No. 2 hard, 99c® $1.02. Corn —Strong No. 2 white. 58%®59%c: No. 3 white, 57%®58%c: No. 2 yellow. 57® 58c: No. 3 yellow. 56®57c; No. 2 mixed, 56® 57c; No. 3 mixed. 55® 56c. Oats—Firm: No. 2 white, N3®44c; No. 3 white. 42®43c. Hay—Steady: (f. o. b. country points taking 23%c or less rates to Cincinnati or Louisville) No. 1 timothy, $5.50®6; No. 2 timothy, [email protected]. —lnspections Wheat—No. 1 red, 54 cars: No. 2 red 28 cars: No. 3 red, 1 car: No. 1 hard 2 cars; No. 2 hard. 6 cars: No. 1 mixed, 10 cars; No. 2 mixed, 1 car. Total, 102 cars. Corn—No. 1 white, 3 cars; No. 2 white, 7 cars; No. 3 white, 4 cars: No. 4 white 1 car; No. 5 white. 1 car; No. 6 white 1 car; No. 1 yellow. 1 car; No. 2 yellow, 18 cars: No. 3 yellow. 12 cars; No. 4 yellow. 8 cars; No. 5 yellow. 2 cars; No. 6 yellow, 1 car: sample yellow. 7 cars; No. 1 mixed. 1 car; No. 3 mixed. 1 car; No. 6 mixed. 1 car; sample mixed, 1 car. Total, 65 cars. Oats—No. 2 white. 11 cars: No. 3 white. 12 cars; No. 4 white. 2 cars. Total, 25 cars. INDIANAPOLIS WAGON WHEAT f,Tw' B o rain „ ele, J a, -°L s are Paving 98 cents their °merits ft r£d wheat ' other erades on Other Livestock RY UNITED PRESS FT. WAYNE. Julv 14.—Hogs—15c off 300-350 lbs . $4.60: 250-300 lbs . $4.70: 200250 lbs. $4.60: 170-200 lbs., $4.50; 150-170 lbs.. $4.10; 140-150 lbs.. $3.75: 130-140 lbs.. stags’ s2°°ra?ii !b ; 3 3: r °ughs, $3.75: choice Steady; steers, good and rho re l, 5 , 5 n 0 ' Er l ss s^p rs. Kood and teri l he.f®** 3 - 90 - medium and good. $3.50; c.rocc h V ff 7 v eood . and choice. $4 50®5' grass heifers, good and choice, $4®4.25rTjnm £i° od ' s3 "’ 4: common and me-so'Vn-sa 3 3 h 50 ' 00w T 200d an d choice. se,so? 3 medium and good, $2®2.50; cut'”s: * 1.1 5<3 2: canners. Site/1.50; bulls B ° dd choice. s3® 3.25: medium and S3®3 5ft 2 s °^ butchers ' sood and choice. CLEVELAND. July 14 —Cattle—Receipts, lju. market, active and strong: advance 35 to 50 cents during the past week; fancy drv fed yearlings. s6v, 7; choice to good shipping steers. $5.50*& 6.50: prime dry fed butcher steers, $5.25 v/ 5 25; choice to prime yearling heifers. $5.25® 6: prime yearling bulls, $4.50® 5: prime butcher cows. .3® 3.50. Calves—Receipts. 500; market. active and strong: for the week: finest, vealers show rise of 50 cents: choice to prime, $6.50*97.50: choice to srood. %h'n fair „, to B°od. ss® 6: common. $4.50 down. Sheep Receipts. 500: market, slow but steady with prices at same levels of week ago; choice wethers. $2.50®3.25 medium to good. $1.50® 2; choice spring lambs. $7.50® 8: choice to good $6 50® (.50. Hogs—Receipts. 1.000; market 5 cents lower in active trading: ail sold earlv: for the week: market shows advance 10 to 20 cents on all hogs; heavies. $5.10: choice butchers, $5.10. stags. $2.75roughs. $3.75; pigs. $3.50®4. KANSAS CITY. July 14 Hogs--ReceiP'S. 4.a00. including 480 directs; fairly active; weak to 10c lower than Thursday's average: top. $4.50 on 200-250 lbs : light lights. 140-160 lbs., $3.15® 4.10: light weight?: *3 80® 4 so; medium weights. 2 9 lbs - $4.35® 4.50: heavy weights. bs ■ $4.25® 4.50: packing sows. $3.35® 3.90: feeder and Stocker pigs $2 60 rz 3.15. Cattle—Receipts, 800: calves 350: market, generally steady; a past load of choice 1.107 lb. steers. $6.25: steers good and choice. 550-1.500 lbs $5 40® 675 steers, common and medium. $3 25® 540 heifers, good and choice $550-900 ibs $4.75® 6.15; cows. $2.35® 3.75: vealers s3® 5.50. stocker and feeders, $4.25® S 50. Sheep—Receipts. 2.500: killing classes. Steady: top native lambs. $7.25. TOLEDO Julv 14.—Hogs— Receipts. 150: marxet. 5® 10c lower; heavy vorkers $4.80: mixed and bulk of sales. $4 80; pigs and lights s3® 4: medium and heavies s4® 4 80: roughs 83®3.25. Cattle-Receipts; market. 25c higher: prime steers $6.25® 6,50: fair to good cows $2.50® 2.75gair to good bulls. $3.25® 3 50: fair to good heifers s4® 4 50: good to choice checkers, ss*s 5 50. Calves lifht: market, strong; choice to extra $6 50® 6.75: fair to good. ss® 6. Sheen and Lambs Receipts. light; market strong; spring lambs. s4®7. CHICAGO FRUIT MARKET By United Press % CHICAGO. Julv 14 Apples—lllinois Transparents and Duchess. 90c® sllO Raspberries—Michigan reds. sl2S®l6O: blackcaps *l4/1 25. Cherr:es~ Michigan, sour. sl® 125 sweet. sl2s® 1.50. Peaches— Illinois. $1.25® 1.50. Currents —Michigan. $1.60® 1.75. Cucumbers—lllinois. $1®1.25 Blueberries—Michigan. $2 50® 3. String Beans—Michigan and Illinois s2® 2 25. Celery—Michigan. 60® 75c Tomatoes— Michigan. 12 ouarts. 15® 90c. Onion Market ■ — California Crystal White, waxed $2: California yellows. SI “St 1.25: lowa yellows. 80fi95c.

—9:30 P. M.— KYW 1020)—Stein s orchesI tra. i CBS—Charles Davis’ orchestra i WGN (720)—Sheasby's orchestra. NBC—Sterns orchestra to WEAF NBC—Witching hour to WJZ —9:45 P. Me— WGN 1720 • —Agnew s orchj estra. —lO P. M > CBS—Olsen's orchestra. NBC Dream Singer. Hotel .) Pierre orchestra to WEAF. NBC—Fisher s orchestra to WJZ. —10:15 P. M WGN (720) —Bestor s orchestra. ■ KMOX 11090• Dance music. CBS-Gus Arnheim s orchestra. NBC- Lake George orchesj tra to WEAF. WGN (720)— Gentry's orchestra McCoy's orchestra. NBC—Child's orchestra to WJZ. WMAQ (670) -Lopez orches--1: tra. —10:15 P. M KYW (10201 —Irwin's orchestra. 11 P. M KYW (1020)—Canton's orch- ! estra. WBBM )770i Around the Town. WENR 18701 Barn dance. —11:.90 P. M KYW (1020) —Lopez orchestra. —11:15 P. M KYW 11020) —Stein’s orchesI tra. —l2 Mid.— WENR <B7O —Roger's orchI estra. WGN (720>—Gentry's orchI estra.

PAGE 9

WHEAT SCORES NEW HIGHS IN CLOSING RALLY Late Buying Brings Prices Up 3 Cents From Lows. BY HAROLD E. RAINVILLE United Press Staff Correspondent CN'ICAGO. July 15.—Wheat established new highs lor the season on the Board of Trade Friday when it led a strong closing rally that brought prices up fully 3 cents from the early lows. Rye did not make much of a recovery, but corn and oats responded slightly. A small volume with sentiment nervous featured the morning with the independent weakness in rye and at Winnipeg dragging the market downward, oats and corn moved m unison with wheat throughout. A recovery at the Canadian market and upturn in stocks caused short covering late. ( lose Is Strong At the close wheat was 2\ to 3% rents higher, corn 1% to 1% cents higher, oats unchanged to % cents higher, rye to cents higher, and barley % cent higher. Provisions were strong. Wheat rallied from the initial decline but failed to go above the previous close early, scattered selling meeting all upturns. Irregularity in stocks and cotton with the absence of stimulating news aided weakness in rye and at Winnipeg to depress prices. Ln erpool closed 1% to Th cents i lower. Volume was not as large as | recently, traders preferring to stand I as ide for the week-end. Cash prices ;"ere 1 to 2 cents lower. Receipts ! were 66 cars. Corn Trade Quiet Trading was moderate in com with prices lower and showing little inclination to rally At mid-session, however, prices were •% c-nt lower to % cent higher, the lormer on July and the latter on December Buying on resting orders absorbed early selling out the fo-ecast for showers and cooler was depressing Bookings were 177,000 bushels with no shipping sales. Cash prices were 1 to 2 cents lower. Receipts were 504 cars. Oats declined in keeping with the trend in the other pits with trading comparatively quiet. Prices were 4 to % cent lower at mid-morning Rye dropped 1% to 2 cents under , pressure during the morning. Chicago Primary Receipts —July 14— Coni' f 1.630.00 ft Oats ' 1.391.000 \ Chicago Futures Range WHEAT— July.. °’o4 n % U>B% 1*04*% ?ov- l l Ff' Sent.. 106% 111 1061. iwp* In?” 169 1.14 109 3>* }'?n * M3 c'or N l l3 118 lt?.: i.i3% Sept * 66 2 et' 2 ii' 4 • 84 ' s 63% |c'.*. .70% 73 ;!o% '??’ m ?iAts— 75T * - 78 - 75, ‘ - 77:, < iwi & #: *8 :!5S •$} 8S:: .8.. f„. 15"; •*> ip RYE— ' " ‘ 53 July.. .95% .96 .95% 96 Sent. .98% 1.003- 98% 100% 100% 77 P R ARLE W- * 105 102 t’ 4 ’* L&5 Sept.. .64% .65% .63% .65 64% I LARD- 8 * 69 S7 ’‘ ' 6n :88 '% i July ... 7 57 7 55 | Sept.. 7.72 792 772 792 785 ;Oct... 7.92 8.07 7.90 8.07 8:05 Dec.'..' 8.35 840 325 840 830 | " 2 885 892 880 5*? 1 8.47 8.55 ° ct 8 75 8.80 CHICAGO CASH GRAIN Bit t mted Press CHICAGO. Julv 14.—Cash crain close: Jf haat —N°- 1 ted- $105; No 1. musty. $1.03%; No. 2. musty, $102: No. 3 $103; No. 1 hard. $105%® 1.06. No 2. slo4',® I 1.05%; No. 1 dark. hard. $106®1.07; No a. $1; No. 2 mixed. $1.04® i.04. 4 ; samplo SV 02 '*- Corn No- 1 mixed. 62c; No. 2. 60%® 61 %c: No. 3. 60%®60%c; No. 6 56%c: No. 1 yellow. 62®62%c; No. 2. 61 % ®62-%c: No 3. 60%®61%c No 4 59%® 61c: No. 5. 58® 59c: No. 6 58®' 58%e. Corn- White. No. 2. 62®63-%c- No' I 3 61%® 83c: No. 4. 60c; No. 6. 56%c; sample erode. 52c Ooats-- No 3 mixed. 43c; No. 1 white. 45c: No. 3. 43%®44%c: No. 4. 42%®.43c: sample grade. 42c. Rye, No. !• 96c: bariev. 55® 76c: timothy. $3.50®) ...00: clover. sß® 11.75. Cash provisions Lard. $7.55: loose. $6.72: leaf. $6.75; D. 3. bellies. $8.12. TOLEDO CASH GRAIN Bp T ii ited Press \ TOLEDO July 14 -Cash grain close; Grain in elevators, transit billinp Wheat I—No. 2 red. $1.11%® 112%: No. 3 red. lc I premium. Corn No 2 yellow 68® 69c j Oa) s—No. 2 white. 49 9 50r Rye- No. 2. I 98%® 99%c. Track prices. 28% cent rate-’ • Wheat—No. 1 red. 51.08®109%- No 2 .red. $1.07® 1.07% . Corn No. 2 yellow 63 1 2® 64%r: No. 3 vellow. 62%®63%cl Oats No. 2 white. 46®47%r; No.-3 white. 45%®47c. Toledo .sepd close CloverCash. $7.75; Oct.. $8.0013, Aisike—Cash. $7.75: Aue., SB.OOB Toledo produce; Butter—Fancy creamery 30c F-cs—Extra*. ‘4® 15c. Hav —Timothy, per cwt 70c. ST. LOUIS CASH GRAIN Bp T tilled Press ST. LOUIS. July 14.—Cash grain Wheat —ln good demand: steady to lc higher: No. 1 red Ml; No 2 red. sloß® 1.10; No. 3 red. $1.07%® 1.08%: No 4 red SIOB cockle: No. 4 red. $lO7 regular No. 5 red. $1.02: No. 5 red. musty and weevil, sl-04%: sample red 96c. heating: sample red. sl. cockle; No. 1 red garlick". $1.02%. heavy; No. 3 red. garlicky. SI.OB, light: No. 3 red garlicky. sl.Ol heavy: No. 4 red. garlicky. sl, heavy; No 5 red. garlicky. 98c. heavv; hard grades. %c lower to lc higher: No. 1 hard. 51.07% No. 2 hard. $1.05%® 1.07; No. 4 hard. $1.06, No. 1 mixed $1 06% hard: No 2 mixed. $1.06%; No. 2 mixed. $1.08% soft: No. 3 mixed. $1.07%: No. 4 mixed. $1.06® 1.08%. Corn—ln good demand: unchanged so lc lower: No 1 yellow 62r: No. 2. 61®61%c; No 3 vellow. 60%®61%r; No. 4 vellow. 59 %c: No. 6 vellow 54%®55%c: No 2 white. 63%c. Oats- In good demand: unchanged tv %c lover; No 2 while 45c; No. 3 white. 46c; No. 2 mixed. 44%®45' 2 c; No. 2 red. 46®48’2C; No. 4 cereal white. 43%c. NEW YORK COFFEE FUTURES —July 14High. Low. Close. March 6 30 6 60 6 6ft May 6 75 6 64 6 64 Julv 6 30 September *. 6.30 December 8 50 6 42 6 42 RIO SANTOS March 3 83 8 78 8 33 i May . . 8 90 8.82 8 88 Julv 8 56 8 46 8 52 September 8 68 8 60 8 53 December 8.77 8 70 8 71

Centlivre Brewing Corporation Fort Wayne, Indiana ■ Class A Common Stock ■ Listed on Chicago Board of ±rade Orders Executed at the Market ■ Descriptive circular on request ZAISER & ZAISER INCORPORATED 129 East Market Street Indianapolis Telephone LI. 9375