Indianapolis Times, Volume 45, Number 65, Indianapolis, Marion County, 26 July 1933 — Page 10

PAGE 10

Wall Street Underwriters Tell All in Floating Air Conditioning Issue: Brokers Have Their Troubles. BY RALPH lIENDERSHOT lime* *>petial Financial Hr tar

The firs.* n w lsmm* to b put on tho markp* in connection with the air conditioning industry. one of the new industries expected to help pull the country r u of the d*-j*r sion is beins: offered by Harris. Ayers A* Cos. Inc since the businc.” . sr. its infancy and the sock is consequently of a speculative nature, the undentriters took no chances of running amuck with the new securities law in describing the shares. In fart, they put about everything in but the kitchen sink, the prospectus containing eight pages, about twice the size of the usual security brochure Salaries of executives were Included, as well as a description of all contracts of the company—Air Con--1 ditioning Industries Inc including the one with the underwriters The manner of setting up the prospectus might (& iS well b- used as a model for those wishing to conC*' W form with the spirit as well as with the letter of the ne-ji securities act. The bankers feel they bent over IKjF backward in their statements, but that would seem ■ T J tr, pe True only ;n comparison with old methods of JBbe / d< -,er:bing ’ security's. Investors arp entitled to all the facts revealed about the company, and it is refreshing to see them get a break at last. tt a a jgUjf Why the Exchange Closed vHj Manv people, no doubt. fail to realize the trenn ndous volume of extra work for the brokerage IfmT, TfSILJJB houses involved in a market break such as was exit.ilph perienred last week The checking of margins in Hendershot i'self is a big task All accounUs must be gone over carefully and checked against latest prices. Letters must then be sent to all those from whom additional cash is needed and then the replies checked to keep the accounts in order. The question of service in the wav of getting quotes and giving advice constitutes another big job at such a time And the specialists also are put under an unusual strain in a break of that srr rt. When orders come piling in from all quarters in an active issue p ;s next to impossible to see that all get a square deal. And w,th the tirk<r running lau meaning that actual prices on the floor are much lower than those showing on the tape, the number of complaints of prices received are enough to send an ordinary man to the mad house. It Takes a cool head and a strong constitution to handle such an exacting tob at a time like that With the brokerage houses fighting for their nr trimers on the one hand, and with the governors of the New York Hto: k Exchange, with their demands for an open market and fair trong men have been known to fold up The specialists in Commercial Solvents were changed three times last week. a a a See*, (iirrency Fight in Offing .Jackson Bus. Boesel A- Cos . member of tiwi New York Stock Exchange, cent to think an ojjcn fight may develop in the foreign exchange market be tween the United States and Great Britain to increase the value of one another's currencies. The firm also suggests that the prospects of such a fight may well have had something to do with the market break here It makes it clear that it has little but deductions to go on. but if thinks enough of them to suggest that President Roosevelt and his cabinet prepare for battle if they would prevent Great Britain from upsetting the inflation feature of our recovery apple cart

New York Stocks “~~~~~~ (Bv Abbott Hocpin Ac Cos ) '

Julv 26 Oil*— Prev High. Low Close close Amerada . 36 33', 36 33‘* AM Rig 24 , 24’. 24 . 24 Barncdall .. it B'* 9 9 i oil 11 *j :: , lIS US ( ont : i a-, 1 . ICS is 14 n " Houston <newi I Houston old' 33’, 25' 25 . 2a Mid Com Pet 12’. 12'. 12*. 12’. Oh !0 Oil 13'* 13'.- 12’, 13 Pet coro io■ in : , w, io’, ; Phiiho Pet ICS 14 14'* 14 , Pure 011 9'/ 9 9’-- 9<m Royal Dutch 33’. 33 J , 33', Sbd OH 22’, 22 22’j 22 Shell Union B’, B’, 8 •* * • Simms Pet . 9‘. 9 9 8 , Skcllet Oil . li Soc \.ir 12*3 11 , 12’. 12 . , SO o! C.ll 38 35 35’, 3a’a S () oi Kan 20 S O 111 N J 36', 35 35>, 35 and Texas Corn 23 32', 23 23;, Tidewatc■ Assn B', R . B', 8‘ Un On Os Cal 19”. 19', 19'. 19’. Slerls* — Am Roll Mills 19', .U j 19', 19 Beth S eel 38 38 '* 38 36'. Bver A M :ti’-3 29 31 28 . Col Fuel .v lion IP, 10’, K' 10'. true Steel ... ... 27 Cr'll! Sts S'eei 28'3 28 * LudlUlll Steel ,a'j 15 M< K' 1" r Tin 84’.. 83', 84'. 84 : . Na'i St. el 48 *3 4.3 4.3;. Hep Iron .v Stiel 17 IBS 17’, 17‘, Rep Iron .v Stl o 40'. 40 40'a 40 U s Sill* it 82 72 ’, 82 73 , Vanadium . 25 2325 23 1 * Midland 14’, 12, 14 12 V S Pipe .v hav 18'. la 1 . 18'3 la' U S Steel S3'. 52', 53', 53', U S steel pfd 97 '. 97 97 97'a * Youngsln SAT 28-, 25 25' * 26 Kail,— Atchison . 62', 80 81 , 61‘. Atl Cst Line . 45’,. 44 45 44 * B A O 29 28 29 30 Can Par .17 16‘, 17 17 *Ch & Ohio 43 41', 43 41;, Chi & Ot W s>* 5 , 5* S'. * C M .V St P 10‘. 9', lO’, 9S CMA St P Pfd 18', 15'. 15', 15', Chi N \V 12 11’a U , 11 a Chi R Is! • > 6 _> • > Dela Hud 72 * .1 . • - - *3 Erie 23'. 22 23 21 . - Or' Net hern . 27 26 27 26' 1 ll' Central 45*. 43', 44 44 K C S'UI !* 3 U Lou Nash '6 - 9. mk . ; Mo Par .7’, .' Mo Par pfd 9’.- 9', !•'* 9 N V Cent 43 41 . 42 . 41 , N 3’ Chi ft St L 21', 20 20 , 2P, NY c St : pf 2 25 . 28 N Y New Haven 2 7 -6 :’<> . -6 * N Y Ont A Wes 10'. 10’. 10 lO . Norfolk A We* * **" Nor Par 25 24 25 .4-, Penn RJt 35'. 33', 34', 34;. Reading ■ , ’5. 22 2 - Bou Par 27’, 26 . 2. Sou R R 28 26 . a* 3 * . * Sou R R pW 38 3. 37 37 Union Par 113‘, 111’. -12 * 114', t Wabash .. s'* s> s'* * \V Maryland ... 12‘, US 1. , H * Motor* — ... , _ Auburn . 56 53 and 54', 53 Chrysler 33’, 30 . 33’, 30 Gen Motors 30’. 28'. 30’. 28’. Uraharr. Motor 3’, 3, 3* 3, Hudson 12 ll’ 12 llh Hupp *** b * * • Macs Truck 36 34 . 36 33 Nash 21’. 20’, MS 20 Pi sard s’* -o’* J** 4 f ■4. 4 , 4 . Studebaker 6', 6', 6 * 6’, 5 uc k s*. 5 5 5' 2 5 ■, Motor \rress—- ‘ Bendtx 16’. 15’. 16 15'* Brhn Alum 39 36', 39 37’, B rs Warner 16', 15', 15, 15*, Bi iggs 10’.. 9, io’, 10>, Butin Wheel 4', 4', 4', 4 ■•ton Mfg 12’. US 12', . Bee Auto Lite 19', IS*. 19'. 18 Houd Hershev 4’, 4', Mu hr.' Mfg 7 6’, 7 6'.Murra Body 9 B', 9 B’, Stew Warner . 9'. 8 , 9 9 Timken. Rol 27'. f. '* 27'* 26-', Mining Alaska Jun . 28 . 25'. 28', 2 s , Am Smelt 36 \ 33 36 14'. Anaconda 18 . 16 ; * 18' 17 ' Cai A Her’.a 7’. 6S, 7 ! , 6'. Cerro I’e Pasco 34', 29', 33 . 29 Oranbv 12'. '.o'. l!’. 11 Or Nor Ore 13' 13 ‘ 13’. 13 * Home.st.-sc Min 241 230 240 221 Howe Si'und 24', 22'. 24 22S Ins Copper . 7 and 6', 7’-, S Int Nickel 19’. 17'. 19', 18 . Isl Creek Coal . 27 Kenecott Cop 21’. 19’, 21 and 20-, Noranda Cop 32'. 32 32’. 31 , Phelps Dodge Is' 14', 15'. 14'. ~ Pitts Coal . 36'* Toharrns— Am SnufT 45 44 . 44 . 44 Am Sum Tob 19'.- 19 1918'. Am Tobacco A 82 81 '. 81 ’* 41;.Am Tobacco B 85 84 85 82 , Orn Cigar 40 . 39'. 40'. 39', L;gg A Mv*rs B 89 88 88'. 88 - Lorn’.lard 21 20', 21 20’. Rrvnolds Tab B 4* 4.’. 4.', 4. equipment,— Allis Chalmers 18 171, ;8 17’, ' Am Car * Frit 27 26 27 26 Am Loco -e 25 * .6. -5 * _Am Mach A Fdy 16 . 16 6', 16 , .Am Steel Friv 20'- 20 ”0 19'. - Bald Loco 12 , 12 12*. 12', Burroughs 15’. 15'. IS’, 15', Case J 1 70 64d- 69’, 65 Cater Tract 22 26’, ’l'.- 21 Cal Palm Peet 17’, 16 *6 16'. Congoleum 20’, 19’, -O’, 20 ; Elec Stor Bat CSS Foster Wheeler 16 14 • '6 14 Oen Am Tk Car 36 33'. i 35 - Oen E'.ee 24’* 23'. 14’* 22'. * Gen H R Sift 34 * 35‘* - IlSgso! Rat'.d 55 •* Int Bu* Mach 136 |Ut Harvester 35', 33', 35 33', Keitinaior 10’, 9’, 10, 9*. Na’l Cash Re§ 19 17'* 19 17 . Pror A Gamble 42 P 47 46 47 48 * Simmons Bed 21'* * Ur.d Elliot . West Air B- 28 27'. 27’, 27’* West inch F’.ec 43'. 4!' 43', 42’* * Worthington P 2FS 24', 26>, 24 I tililir,— "Am A For Par 13 72< 12’, 12’, . Am Pr A I*:' 14 , 13 14 13', A T A T 124”. 171 and 174N 122 . Am Wat Wk 30'* 29 30'-. 26', - Brook Cn Gas 83 83 - Col Gas A Elec 2 2o’, 21 ’ 20N * Com A Sou 4‘, 4 4’, 4 - Consol Gas 54’, S3 s* 53 \ ” Elec Par A Lit 10'* 10 10‘* 10'. ‘ Int TAT 16 15 15’, lsi, * loti GAEA 20'. 2020', 20U Nat P*” A Lit 16 15', 16 IS", North Abut 27 . 26 27 26’, . Par GAB 28', 2* 28 28 Pub Sen- N J 47*. 47 47', 47 So C*: Biltson 24 23 ’* 24 23", * St A Oa* 14*. 14 . 14', 14'. Std Gas t)M .. .. 15’. * United Com .. |o*. 10 10', 105, Un Gas Imp *l' 20', 2!’. 21’. t A Wi-st-m Union.. 62'. 59 63 58', , Rubber,— l Fires'ene 2S>, J 4 258, jjl ' Goodrich ICS ICS 16'* ICS

Goodyear • # bbrr - l 9 j I7 ’" '•'* H', L S Rub pfd . 33 29', 32 1 i 28', Ke] Sprinic s>, 4>, 51, 4;, Amusement*— Crosley Radio . 10', io>, 10', 10'. ' Fox Film 3 J 33 3'. Loews Inc 24 23'. 24 23 1 , Hadio Corp B‘, 8 B', 8V {J. KO 34. 3’. 3 J , 3 J , v\nrnrr Bros ... 5% *•* 5> 4 53 4 Foods— Am Suaar . . 62', 61', 62', 63 ' Armour A 5 5S s', s', Beatrice Cream 2020 20 20 Bordet, Prod 33’ , 32 s . 33’, 33', ! Cal Parkins 28 26 28 26’. Canada Dry OA 30 29 29’. 25', Coca Cola 95 931, 95 94 Cont Bak A 11', ll’, 11*. Corn Prod 78 76', 78 76 ? t Crm of Whew* 30 29'. 30 29 Oen Fords 37', 35 * 4 37', 36 Gold Dust 22 21', G W Suaar 33 31 * a 32 1 . 31'1 Herrhey 57, 571 Int Salt 23 22', 22’, 23 loo*e Wiles 37 37', Natl B.vruit 54- 1 . 54’, 54> .53 J i Natl II Prod 21’ 2ft', 21 21'. Pel Milk 12 F-rlty Bak 19’, 19'. !9’ 18’, S Porto Rtco Sub 38 373737 Std Brands 27 25 J . 26 3 26 United Fruit 58 1 1 57' 58 56 3 , Ward Bak A' 14 Wrlglev 48’, 49 Itel.iil Stores:— Ass l)rv Good* .. ... ... 14 Best A- Cos . .. 28 Gimbel Bro* 5 4’. 5 5 Gr Un Tea 7t 7 7 1 , 7’, Hahn Dt'pt Sts . 6', 6'. B', 6 3 . Jewel Tea 38* Kresge S S 14' w 134 14 13N. Kmcer tiros 27', 26 1 . 27 , 27', Macv R H 534 53', 53’. 53 May Dept St . 29 Mont Ward 22’. 204 22'. 22'. Penns J C 39*% 39'. 394 40 Safeway St 52', 51 52', 53 Sears Roebuck 36', 34'. 36 34', Woolworth 46', 444 46’, 45 Aviation— At ia* ion Corn .11 104 10’. 104 Do.iiilae* Air . 13’. 13'. 13', 134 Curtiss Wright 3\ 34 34 3’, Curtiss Wrißht A s', 54 54 S', \nr Am Av 6', 6'. 6', 6'. United Aircraft 33 >- 32 4 33 4 32 . Chemicals—\ir Reduction 90 89 90 .Allied Chem 1174 1154 1174 116 Am Com Alcohol 44 394 434 39*. Col Carbon sft 49 49’. 494 Com Solvents .33’. 30 4 33 4 30 4 Dupont 72'. 69 4 72 69 4 Freeport Te\ 38*. 374 38 4 .38 L-ft il id Carh 32'. 30 4 314 31 Northern Alkali. 33 4 31 4 33 4 31 4 Tex Gulf Sulph 28 4 27 4 28 27 4 Union Carbide 43’. 42 43 4 42 U S Ind Aicohol .54 4 48 4 53 4 48 4N.it Distil 75 4 714 75 714 i Drugs— Cotv Inc ..... . s’, 54 D* ig Inc 504 484 *9'. 48'. Lambert 33 4- 32 4 33 4 32*. I fhn .V Fink 194 19', 19’. 18’. Zonite Prod .. 6', 64 64 s’* F'nanciaN— Adams Exp .9’, 9', 9', 94 Allegheny Corp 54 54 54 54 Che,3 Corp 43 404 il 1 , 394 Transamerica 74 74 74 7', Tr Conti Corp . 6', 64 64 64 Building— Am Ruri'ator 154 14 3 a 154 144 Get- A.-phalt 194 18', 194 18’. .31 3oyi Johns Manville 45 4 42 4 45 43 I.ibbv Owe* s Ols 284 26', 28'. 26'. Otis E’.ev 19-4 184 19 18'. 4 3'. 4 14 Misrella t(ou%— Am Rank No'e 23 21 33 21 4 A me? Can 854 83 4 85 85 Anchor Cap 25 23 4 2424 Brklvn Man Tr 32 4 30 J . 314 31 Conti Can 591. 59', 594 604 Eastman Kodak 77 4 76 4 77 75 Owens Rot'le 77 4 74 77 744 CiM * - e 144 14 14 14 C,linden 15.4 154 154 154 Gotham S:lk 114 114 114 114 Indus Ravon 65 6 6A4 60 Inter Rapid Tr 74 74 74 74 Real Silk Hose 134 12 134 12 New York Curb (Bv Abbott. Hoppin A: Cos.) - Julv 25 - Close Close Alum Cos of Am 69 Irvine Airrhute. 54 Am Rev 34 Inti Ptrol 17 Am Ci PA- LR 44 Lake Shore Mr. 42', Am Cvan R II Lone Star Gas . 94 Am A- For Pwr S’. Mount Prod s’, Am C* A El 37 Na-I Bella* He* 24 Am Sun Pwr s', N:ae Hud Pwr 10', Ark Nt! Pwr A 24 Par. Am Airways 474 As* Gas A 14 Parker Rstprf,. 61'.■ Alias ft Crp 13’, Pennroad 4', Aston 54 Pioneer Old Ml 12 Rra7 Tr A- It 144 Si Reels Parer s*. Car. Marconi 24 Salt Creek Prod 6 , Cer.t js t . El 24 Seea! I kick 1 Cities Serv 4 Std Oil of Ind. 30 . Com Edison 66 std OU of Kv 164 Cord 9'. Transiux 24 Derby Oil l' United Founder* 2'. FI Rr.ri A- Sh 26 Uni’-d Gas 4’. Ford of Fre S', Un Id A- Pwr A 6 . Ford Mot Can 14 United Verde 44 Hudson Br.v Mn 10'. Wrieht Hare 6\ Imperial Oil 14 Liberty Bonds Bn Pnilrii Prrtt NEW YORK July 25 Closing liberty bonds 'Decima's -epresent thirty-seconds > Liberty 34s 32-47- . 102 25 I sbertv lst 44* 32-47, 101 29 I :berry 4?h 4,s 33-38- 102 29 Treasury 44 4~-sa• 110! Treason 4* 44-54, 106 :o Treasury 3’.* 46-56' 104 22 T-eav:rv 34' 43-47- 102 20 Treasury 34s 41-4.3 March 102 13 Treasury 34s --to-4.il June 102 jo Treasury 34s 46-49, 10ft 13 Treasury 3s 51-55' 99

In the Cotton Markets

-Julv 25 - CHICAGO H:ch Low Close •January 11 14 10 87 10 87 March 11 38 10 97 11 11 May 11 53 11 20 11 20 October . 10 89 10 48 10 58 December .. 11 11 10 75 10 11 NEW YORK January 11.15 10 77 10 *0 March 1135 10 96 11 07 Mav 1149 1112 1124 Juiv 10 50 10 32 10 32 October 10 84 10 45 10 5# December ... 11 06 10 69 10 80 NEW ORLEANS January 10 98 10 *0 10 83 March IMS 10 03 10 99 Vav 11 39 11 17 11 17 July 10 51 10 48 50 48 October ‘ 10 80 10 43 10 53 December 11.00 10.65 10.75

STOCK SHARES SHOW GAINS IN UNEVEN TRADE General Motors Strong on Optimistic Earnings Report.

Average Stock Prices

Average of thirty industrials for Monda- high 96 ft low 91 77. last 92 83 off 145. Average of twenty rails 4003 off 39 A-n!t of twenty utilities 33 38 31 38 off 53. Average of forty bonds 38 81 up 19 Average of ten first rails 43 25. up 10 Average of 'en second rat;* 75 29 up 42 Average of ten utilities 94 57 ud 01 A - .erase of ten industrials 88 00 up 21 BY ELMER C. WALZER United Press Financial F.dltor NEW YORK. July 26—Stocks opened irregularly higher today in moderately active turnover. The dollar firmed up in terms of foreign exchange, cotton eased slightly, and bonds moved irregularly. United States Steel common stock opened at 52%, off 1% points, following publication after the close Tuesday of its second quarter report. Motors Move Up The company had a deficit of $10,428,722 for the quarter and for the first half of 1933 the deficit was $28960.448. In the corresponding periods of the preceding years the deficits were almost double those of this year. The stock later rallied to above 53. General Motors, which earned a cent a share more than its annual dividend requirements in the first half of 1933, opened at 29'y, up a point on 4.000 shares. Du Pont, largest, stockholder of General Motors, gained 1% to 704 on the first sale. Gains Are Noted Gains of a point or more were noted in Johns Manville, International Harvester. Commercial Solvents, Libbv-Owens-Ford Glass Chrysler, National Biscuit and American Telephone. Rubbers were strong as various companies increased prices 10 per cent. American Can was among the losers, opening at 83%. off 1%. The market opened at 9 a. m Indianapolis time today. It will close at 12 noon <central standard time.) The Stock Exchange announced Tuesday it would continu? present trading hours until further notice. The exchange will be closed Saturday.

Bank Clearings

INDIANAPOLIS STATEMENT - July 26 Clearings . $1.882,000 00 Debits 5,367.000.00 TREASURY STATEMENT —Julv 26 - Net balance for Julv 24 $826 748 459 48 Expenditures 4 653 335 57 Customs rects mo. to date . 18.392 244.70

The City in Brief

THURSDAY EVENTS kherman-Emerxon Mardi Gras, N'euerberg park. 8 p. m. Advertising Club, luncheon. Columbia Club Engineerinc Society, luncheon. Hoard of Trade. 'sigma Chi. luncheon. Board of Trade. American Buxine** Club, luncheon. Columbia Club. Acacia, luncheon. Harrison. Illini Club luncheon. Columbia Club. Real Estate Board, luncheon. Washington. B tiEglars have entered the Advance Transfer Company offices. 114 South Alabama street, two nights in succession, police were informed. Nothing has been taken in either robbery attempt. Bitten on his right artn by a dog. Charles Smiley, 48. of Los Angeles, was treated Monday night at the - Wheeler Rescue Mission. Police ordered the dog. owned by Alex Frazier, 720 Ogdeh street, pert nod up for ten days. A fracture of the left arm was suffered Monday night by Howard Owens. 8. Negro. 802 Roach street, while at play. He was treated at city hospital. Thives broke into a vacant building at 3547 East Washington street Tuesday night, tearing a candy machine from the wall and taking all the money and candy from it. police were informed today by the building watchman. RATE CUT IS DELAYED Utility Agrees to Allow Minton to Examine Cost Data. More time was granted in the rate reduction case against the Public Service Company of Indiana, at a conference with the public service commission today. The company agreed with Sherman Minton, public counselor who launched the case, to dismiss a Marion county injunction suit preventing Minton's investigators from seeing certain unit-cost books With these books availaole. he can gather necessary data. Minton said, and it was agreed to return and report progress on Aug. 14. In the interim. both sides will study the effects of NR A upon utilities, it was explained. TEN TRUE BILLS VOTED Grand Jury With First Woman Member Makes Report. Ten indictments naming thirteen persons were returned by the Marion county grand jury loday, in its firtt report since going into session. The jury, seated July 1, as the first panel ever selected in the county with a woman member and foreman. Mrs. Pe -cy Gordon. Included in today's list, were indictments charging criminal assault. burglary ants vehie e taking. MW A ORK RAW %l (. AR II Tt RD —July 2< High. Low c:os# January 1 56 ’53 1 55 March 181 ; sg IJ| Max 1 66 1 63 1 64 Juh' _ I D !88 168 p'6rr.br l 49 1 46 | 47 DBC6mb*r 1 55 ! 53 154 MW YORK ( OFFI F FI Tt RES —July 23 RIO .. . High. Low Close March 6 34 33 6 24 Max 4O 6 32 6 33 July 5 *0 September 5 80 December 6 20 6.05 6 05 SANTOS March 8 50 8 41 8 44 Mav 8 50 8 45 8 49 July 7 88 7 60 7 88 September 7... * 10 8.09 * 14 ' December 1.33 5.21 (.29

THE INDIANAPOLIS TIMES *.

INDIANA STOCKS AND BONDS

The following auota’ior.s do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and ae.iir.g Inouiries or recent transactions. —July 26STOCKS Bid. AsiC Be’* Rail Ar Stock Yards, com. 26 30 Be.* Rail A- Stock Yds pfd 6% 45 50 Cent Ind Par pfd 7% 10 13 Citizens Gas com 14 17 Citizen* Gas Cos ofd S'". 63 67 Home T & T F: Wavr.e pfd 7", 36 40 Ir.d Ac Mich Elec Cos pfd 7'-. 69 72 In Gen Ser-.cc- Cos put 6 ... 84 86 Ir.d H.dro Elec Cos 7', 27 30 Ir.dpls Gas Cos com 40 44 Irdpi* Par & Lt ofd 6". ..61 65 Indols Pwr A: Lt pfd 6>r . 67 70 No Ind Pub Serv Cc pfd 6', 64 68 No Ind Pub Serv Cos pfd s% ''t 35 .39 Indbis Water Cos ofa 5*7 88 92 No Ir.d Pub Sen Cos pfd S','- 33'* 37-j Ind Pub Serv Cos 6 33’* 394 No Ir.d Pub Serv Cos 7" . 39's 42’a Public Serv Cos of Ind pfd B'7 14 17 Public Serv Cos of Ind pfd 7*7 35 38 South Ind aGs A- El pfd 6* 56 60 Terre Haute Elec pfd 6". 4Q 43 BONDS Belt R R A* Stkvds 4s 1939.. 88 92 Citizens Gas Cos 5s 1942 .... 84 88 Home TAW 54s 1955 964 1004 Home T A T W 6s 1943 98 102 Indpls Gas Cos 5i 1952 76 79 Ir.dpls Rvs Inc 5* 1967 ..29 32 Indpls Water Cos 44s 1940 ..98 4 100 4 Indols Water Cos 5s 1960.... 93 97 Indpls Water Cos 5s 1970. ... 92 95 Indols Water Cos 54s 1953... 100 103 Ir.dD's Wafer Cos 54s 1954 100 103 Kokomo Wat Workrs 5s 1958.. 784 824 Lafayette Tel Cos 5s 1957 .... 83 87 Muncle Water Works 5s 1939 . 92 96 Richmond Water Works 1957 85 89 Terre Haute Water Wk 5s 1956 83 37 Terre Haute Wat Wk Cs 1949 934 974 Traction Terminal Cos 5s 1957.. 45 49

Chicago Stocks By Abbott. Hoppln St Co.'

TOTAL SALES lift 000 SHARES —July 25 High. Low. Close Acme Steel Cos 314 284 314 Asbestos Mfg 44 Assoc Telephone Util . 4 Bnxtiar.-Biessing . 84 8 8% E L Bruce Cos 21 Butler Bros 44 44 44 Berghoff 134 124 124 Castle AM 13 Cent Pub Serv Cl A pfd Cent A So West 3 24 3 Chi A- North Western . 124 114 114 Chi Citv A Con Rvs old . . 24 Chicago Coro om. ... 34 3 4 3 4 Chicago orp pfd 28 4 25 4 254 hicago Flexible Shaft . 114 114 114 Chicago Yellow Cab. . 124 124 124 Cities Service 34 34 34 Commonwealth Edison. 66 65 65 4 Construct Materials Cord Coro 94 9 94 Crane Cos 9 4 84 8% Crane Cos pfd 48 45 48 Dexter Cos _ .... 64 Electric Household 94 9 94 Godchaux B' 104 10 10 Goldblat! Bros 20 19 4 29 Great Lakes Aircraft. . 1.4 1 14 Great Lakes Dredge.... 154 144 144 Gngsbv-Grunow 3.4 33 Ha!l Printing 7 64 64 Houdallle-Hershev A’. 12 114 12 Houdallle-Hershev "B” .5 4 i 5 Kalamazoo Stove 22 20 204 Katz Drug 21 Ken-Rad Tube A Lamp . ... J Keystone Steel ■■ ** Llbbv-McNeil 64 54 54 Llndsav Light 24 24 24 Lion Oil Refining Cos 7 Loudon Packing • - • *34 Lvnch Corp 28 2i 2, Marshall Field 144 134 13 > McGraw Elertric 5 44 5 Middle West Utilities . . 4 Middle W Util 6'. pfd A 2 Midland Util 7*, P L • • 44 Modine 114 11 D National Leather 2 14 2 No Amer Light A Pwr.. s’* 54 54 Northwest Baneorporatn .. ... 84 Northwest Engineering . .. ... 54 Perfect Circle . 224 Pines Winterfront Prima Cos 264 244 25 Public Service N P 37 36 36 Quaker Oats, pfd ... 1154 Railroad Shares 14 1 Rath Packing 234 Reliance Mfg Cos 12 114 13 Seaboard Utilities shares .. ... 4 S-ars Roebuck 36'. 34 34 Standard Dredging Cos.. 14 14 14 Studebaker Mail ... 4 Studebaker Mai! A... . 4 *4 4 Swift A Cos 20 184 184 Swift Internacional 25 4 24 4 244 Thompson JR 114 114 114 U S Radio A Tel 144 134 13'. Utility A Ind 14 Walgreen Cos com . 174 174 17 1 a

Investment Trust Shares

,Bv Abbott. Hoppln Si Cos.) —Julv 26 Biti Ask. Amer Bank Stocks Corp 1 18 1.31 American A: General Sec A . 5.25 6.25 Bask Industry shares. 3.23 British Tvpe Inv Tr Sh 82 .92 Collateral Trustee shares A 4 50 4 75 Corporate Trust sharrs loldi 2.15 Corporate Trust shares iiievxi . 2JO 2 37 Cumulative Trust shares 4 00 Diversified Trust shares A ... 6.12 Diversified Trust shares 8 25 Diversified Trust shares C 3 08 3.18 Diversified Trust shares D... 495 5.05 First Insurar.c*' Stork Corp.. 162 179 First Common Stock Corp.... 1 11 1.23 Fixed Trust Oil shares A . . 7 Oft Fixed Trust Oil shares B ... 6.20 Fundamental Trust shares A... 4 12 4.37 Fundamental Trust shares B . 3 90 394 Low Priced shares 5 62 Mass Ir.ves Trust shares . .18 43 20 02 Nation Wide Securities 3,43 North Amer Trust shnr i1953i 180 North Am Trust shar ,55-56) 247 270 Selected American shares 262 Selected Cumulative shares 6 72 68.1 Selected Income shares. 3.57 370 Std Amer Trust shares . 296 3.02 Super Amer Trust shares A 285 Trust Shares of America. 3li.i 3 1' Trustee Std 0:1 A 465 515 Trustee Std Oil B. . 425 4.50 U P Slectric Lifl'nt A- Pow A 15 00 Universal Trust shares 2 75 2.85

Daily Price Index

Bn f nifnl Prrtt NEW YORK July 25 Dun Ar Bradstreet s dally weighted price Index of thirty basic commodities, compiled for the United Press (1930-1932 Averace. lOOi Today 104 57 Monday 104.55 Week bbo 113.52 Month aBO 97.34 Year ago 75 83 1933 high • Julv 18| 113.52 1933 low 'Jan 20, 67 86 'Copyright, 1933. Dun fc Bradstreet. Inc ,

HORIZONTAL An*wt'r to Pit-vloii* l’u/./lt* of pictured I Man L |E THE ILIBARRY MOREI „, "If"' picture. IRQ'P E Rls E AMiSIA ~ I,at | Co " ntry lu Deity gsife'Eslge be " v * 12 Form of "he.” 24 Epoch*. 13 Card came. V.' A MjJ [run - 1 REN ) I FBO D I -,i oid 14 Junior ;, n i net y foggyfciONEL 31 To ;. e . eQuip ISHuirah. GNUjBAA. MQDC liL L with weapon*. 17 Morindin dye EtMp laMAC E 5 32 Company 15 Neuter pro- [IMS ADMOUI VE. ifec tahbr.i no,ia 33 Political party 19 Billiard rod. y UjLl ENMW IRE RT lu Great Brit--20 Heathen cod. [ACT RESS E STTE ST LPi amiplurali. 22 Napoleons 45 Sea skeleton. VERTICAL 34 Genus of auks, exile home. 47x0 !et fall ITo taunt 3t> Italian coin. 23 Abdicates. 4K Native metal. 3 Minor note in 37 To say again. 25 Group of nine. Highest scale. 39 Net weight of 27 Sash. politfeal office 4 English coin. container. 2S Embryo bird. held by this 5 Barks shrilly. 40 Pedal digit. 29 Depending man . ' 6 Relish. 41 Japanese fish, upon expen- 51 R eer 7jo decay. 4:’. Stick. ence - 52 Second note STo depart. 45 To stuff. 34 Region. in scale. 9 Loaves. 46 To exact as 35 Verbal. 53 body of 11 To burden. toll. 3S Book of maps. 40 To make lace. 54 Mover's truck. grow th. vegetable. 42 Butt of a 56 Each tabbr.). 16 Man. 50 Knock. cigar. 57 Vagabond. 19 Horsefly. 53 Senior (abbr.). 44 Orb. 56 Models. 21 Political faith 55 Northeast. sr Lr br ! hr 36 "30 T 1 I j p | I 24 45 j4fe 46 S2 I 54 ms L—, lr 1 In Fl I1 1

PORKER PRICES RISE 10 CENTS IN FIRM DEALS Choice Grades Steady in Cattle Market, Others Weak. Hogs advanced 10 cents in firm trade at the Union Stockyards this morning. The bulk. 160 to 300 pounds, sold for $455 to $4.70. weights divided as follows: 160 to 200 pounds. $4.55 to $4 60; 200 to 300 pounds. $4.65 to $4.70. Top price was $4 75. Weights of 300 pounds up brought $4 45 to $4.55; 130 to 160 pounds. $3.50 to $4 10. Packing sows sold for $3 60 to $4. Receipts were estimated at 5.500. Holdovers were 834. Choice grades were steady in the cattle market, undertone on other classes weak to lower. Bulk of steers sold for $5 50 to $7; most heifers $4.25 to $5.50. a few up to $6. Cows brought $2.75 to $3.50 Receipts were 1.000, Vealers were 50 cents higher at $6 down. Calf receipts numbered 600. Sheep were steady, ewe and wether lambs selling for $7.50 to SB. Top was $8 25. Bucks brought a dollar less. Culls and throwouts made the market at $3.50 to $6. Receipts were 2,500. HOGS July Bulk Top Receipt* 19. *4 75*,i 4 90 *5 00 10.000 20. 4.60 if 4 75 4 80 9 580 21. 4 75® 4 90 500 5.500 22. 4.70® 4 85 4 90 4 000 24. 4 70*o 4 85 4 90 8.000 25. 4 45*-/ 4 60 4.85 12.000 26. 4 55 (1 470 4 75 5.500 Market, higher. 'l4O-1601 Good and choice $ 3-85 >7 410 —Light Weight*— • 160-1801 Good and choice... 455 • 180-2001 Good and choice 460 —■Medium Weights—--200-220i Good and choice... 465 (200-250i Good and choice . 4.65 7 475 —Heavy Weights—--250-290' Good and choice ... 4 65® 475 (290-350) Good and choice . 4.557 465 —Packing Sows—--350 down' Good 3 50*7 4 10 -350 up ( Good 3.3541 4.00 100-1301 Good and choice .... 3004 j 3.50 —Slaughter Pigs—-(loo-1301 Good and choice... 2.759 325 CATTIE Receipts. 1.000: market, steady. (1.050-1,1001-Good and choice * 5.75® 7 25 Common and medium 4.25*7, 5.75 (1.100-1.5001—* Good and choice 5 75® 7.25 Common and medium 4.50® 5.50 —Heifers—-(sso-7501 Good and choice 5 25® 625 Common and medium 3 50® 5.25 (750-9001 Good and choice 4 50® 6 00 Common and medium 3 25® 4.50 —Cows— Good 3.25® 4.00 Common and medium 2.50® 3 25 Low cutter and medium 1.50® 2.50 —Bulls iyearlings excluded) Good (beefl 3 00® 3 50 Cutter, common and medium.. 2.00® 3.00 VEALERS Receipts. 00ft: market, higher. Good and choice * * M®*? 6 00 Medium Cull and common . ... 2.50*u 400 —Calves—-(2so-5001 . Good and choice 350®5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-8001 ... Good and choice 4:50® 5.75 Common and medium 3.00® 4.50 (800-1.500' , . ~ Good and choice 4 50® 5.75 Common and medium 3.00 4.50 SHEF.P AND LAMBS Receipts. 2.590; market, steady. —Lambs. Shorn Basis—(9o lbs. down) Good A choice S ] 25® 5 2| (90 lbs. downi Com. and med. 4 00® (.25 Good and choice , 2 00® 3 00 Common and medium 1.00 2uo Other Livestock BY UNITED PRESS CHICAGO. July 26 Hogs- Receipts 20 000. including 8.000 direct: active. 15 '■ 20r higher than Tuesday; 200-300 lbs. 54 604/ 4 70: top. $4.70. 140-190 lbs.. $4 u 4 65: good pigs. $3 254/3.50; packing sows $3 654/4 10; light lights. 140-160 lbs., good and choice. $3 754,4 50 light weight 160200 lbs good and choice. $4 254/4/0. medium weights. 200-250 Ibs good and choice. $4 60 / 4 70. heavy weights. 250-350 lb-. good and choice. $4 407 4.70 packing sows. 275-550 lbs., good and choice. $3 50 74 20 slaughter pigs. 100-180 lbs . good and choice. $3.15 7 3.75. Cattle- Receipts. 9 000- calves. 2.000: early steer and yearlings trade at a standstill, bidding. 154/ 25c lower on good and choice offerings ol all representative weight*, early top medium weigh! steers. $6 90: few loads. $64/ 6 75. but not enough done to make a market both local and shipping demand very narrow: other killing classes fully steadv: largely led steer and yearling run slaughter cattle and vealers: Steers 550-900 lbs. good and choice. $5.75'./ 7 50; 900-1 100 lbs good and choice. S5 504/ 750 1 100-1.300 lbs, good and choice. $5 754,7.50- 1 300-1 500 lbs. good and choice $5 757 7 50: 550-1.300 lbs . common and medium. $3.25</ 5.75; cows good. $3.75 r, 4.75. common and medium. $2 75*7 3. <5: low cutler and cutter and cutter. $1.75 4, 2 75. low cutter and colter. $1,754, 275 bulls ivearlmgs excluded' . good • beefl S3 254/ 4: cutter common and medium. $2 754/3 75: vealers good and choice. $5.75 , 6 75; medium. $57 5.75: culi and common. $3 757 5: stocker and feeder cattle steers. 500-1.050 lb.*, "000 and choice .<4 50 /6. common and meoNvn. $34,4 50. Sheep Receipts. 8.000: unevenly around steady; top 54i 10c higher to vard traders and small killers, but packers bidding lower in instances; extreme top. <8 50; bulk below. $8.25; mixed kinds largely $8 downward; slaughter sheep and lambs: lambs. 90 lbs down Rond and choice s7'„ 8.50: common and medium. $4 254/7.25: ewes. 90-150 lbs. good and choice. $1 25 / 2 75; all weights common and medium 07 175.

Today and Tomorrow

Small Employer in Smaller City Presents One Great Problem in Recovery Drive. BY WALTER LIPPMANN

FROM the beginning thav* who have been planning for industrial recovery have felt the pull of two more or less distinct ideas One was to stimulate a quick revival of industry. The other was to lay the foundation of an industrial reconstruction When the idea of a quick revival has been in the ascendant, attention has been centered upon employing more men by reducing the hours of those who are employed and upon increasing pay rolls by raising minimum wages.

When the idea of permanent reconstruction has been in the ascendant, the emphasis has been upon eliminating the wastes of competition by a co-opera-tive organization of industry under anew body of industrial law. In the first stages of the discussion last spring, the idea of quick revival through a blanket limitation of hours and a basic minimum wage predominated. But the discussion showed that it would be difficult to apply such general rules to the almost infinite variety of industrial conditions, and that the project really required an amount of sacrifice from employers that many of them could not or would not make. So attention was turned to the idea of legalizing organized action among employers In effect, employers were persuaded to approve the idea of shorter hours and higher wages in return for a suspen*ion of many features of the anti-trust laws.

The national industrial recovery act. as it finally was approved, was a kind of treaty in which the promise of better working conditions was set off against the promise that the government henceforth would approve a much higher degree of combination among employers.

a a a the act was passed, the work of organizing and codifying began. The assumption was that a better organized industry, which by code had eliminated wasteful competitive costs, would be able to pay higher wages for shorter hours This assumption has not been abandoned, but the experience of the last thirty days has shown, as the President put rt. that “it takes a good deal of organizing and a great many hearings and many months to get these codes perfect - 1 ed and signed.” It could not have been otherwise. Formulation of anew body of industrial law can not be done in a few weeks. The discovery that it could not be done made it impossible to give employers those advantages of combination quickly enough to induce them, for economic reasons alone, to shorten hours and raise wages. Hence the present appeal to their patriotism. They are asked, in effect, to discount the future advantage of combination and to shorten hours and raise wages at the expense of immediate profit. It is safe to say that the crucial section of the blanket code, the most difficult to operate and yet the most essential part of it. is Section 9. which limits the increase of prices. The whole scheme depends upon the willingness and the ability of employers to increase their costs at the Expense of profits and reserve, rather than by raising prices. Because they are asked to do a thing which is contrary to the established habits of business conducted for profit, it is necessary to appeal to their patriotism, to their! higher emotions, and also to their fear of a boycott and other forms of public pressure. a a a human mind can. I should suppose, estimate the practical effects of a campaign of this sort. I But clearly it will be easier to bring in the large corporate employers than the small employers in the smaller towns. The President recognized this irr his radio address by pointing out that “the great basic industries have come forward willingly . . . and . . . accept the principles leading to mass re-employment,” but to the smaller employers the President knew that he stiil had to make his case. This is not difficult to understand. The great corporations have reserves which they can draw upon. They are by and large highly mechanized so that wages are a relatively smaller part of their costs. They have much to gain by the relaxation of the anti-trust laws, and have many reasons for cultivating the good will of Washington. The small employers are in a rather different position. They do not, in general, HTtve any great margin of reserves to draw upon. Labor costs are often decisive for them. They have less to gain in any reasonable time from the new liberty to combine. And they are less sensitive to national opinion. a a a TF Washington is relying upon propaganda and boycotts to force the enormous number of small employers into line, it i greatly to b® hoped that it will think twice before using such dangerous weapons carelessly. It is one thing to use the pressure of national opinion to compel great anonymous corporations. It is quite another thing to set people against each other who must go on living together as neighbors. For my part I do not like thaJ kind of coercion. I do not like to hear the administration tusing scornful epithets to browbeat men whose difficulties no one in Washington can conceivably have understood I do not like government propaganda which may in a thousand communities incite discord and jealoasy and hysteria and fear among the people. A government should govern by the use of its lawful powers and not by unloosing popular emotions. So. I venture to say. be careful. Be very- careful not to carry moral coercion too far. Be on guard against those who love the excitement and enjoy coercion for its own sake. It will be easier to call them forth than to res-rain them later. It is easier to touch off hys- j teria and rancor than o quell it. (Copyright. 1933i J. P. M'NURLEN JOINS PFAFF & HUGHEL STAFF Ohio Man Appointed Manager of Bond Department. Appointment of J P. McNurlen as manager of the bond department of Pfaff A- Hughel. Inc., was announced today by Myron M. Hughel, vice-president of the company McNurlen. formerly connected with Banchohio Securities Company of Columbus, one of the largest banking houses in Ohio, will assume the duties as assistant to the vice-president and chief bond ana- j lyst. He is a prominent figure in I mid-western financial circles.

Lippmann

Produce Markets

h*.l ,v £ w<, - ,n In H* r ’POlta prices; Hens. 7e Brrnu??. °'cf r , ;0c: Leghorn*. Broilers. Colored sorincer-.. 1 1 ., lbs. ,P- ‘3* si)rinters Leghorn !b* up ' c rocks and stags H< Doek rn i Ckf u, anfl Leghorn stags. sc. ove?** ,uh i p tnrrea and fat. 2.'/JL * e , small .xnd colored. 3c. ii fp a:hered and fat. Sc. Young 30r o!d sulnea*. itc. Eggs—No. l frr *h country run rcc* ilr Each full eas of S %? U „': 35 ids. r-ss. a deduct mn 2L. A °SL,?ri ‘ b L or p *h lb. under 55 :bs gros swill be made Butler No 1 26 / 27c 'he Butterfat 20c Quoted bv me waalev Company. BV I NITI O PRFS* Erks Mark, t uneuien prices inchanecd receipts 854s cases extra firsts i:< '* i 13 1 ,r firsts i? 1 * .'L 13 * c k, rurrrn: receipts. 11 11 •dir- • ics. c. Butter Market. unsettled. unchanged to Ur louer receipts 9_.S, tubs specials. 23/23',c: ixtriis "•• e: fx,r * 21'.4,22c firsts 2ft'.':' plni ) ; fC w d, l . 19 19U, Standards 22c Poultn Market, rasv receipts 44 trucks [owls. 9*710c. Leghorn broilers 11c; Leghorns B’c. ducks. 77 10c. geese 74,9 c turkeys lO'ullc: roosters. 8c broilers 12’j 4/1.) 2 c. Cheese Twins I3 1 ,.. 14r . Longhorns 14 i■( U'jf. Potatoes Deiaved CLEVELAND. Juh ii> ri.itte. Market, weak, extras 26'..r per lb . in tubs standards. 26c Eggs Market, we.ak. extras 17c: current receipts J2c; extra nr-1• }*'■£• 1 , ( P< ?' ll "T Market. weak hfv\ tow is. 134,14/ Leghorn sow ls 94, lftc, heavy broilers. 144/ 16r leghorn broilers, lfto 12c ducks. ,'</10c: old roosters 8c PntnVtrgint.4 and Maryland, (j S No 1 Cobh.ers, $5 154/5.25 barrel. $3 lftp-ib ■'So iv N<> * Jersey, mostly around $3lO b *"<■£. few $3 25: U 8 No. 2. $2 25 100-lb sack NEW VORK July 26 Potatoes Weak Loo? L'Jand. <2 7 4 2.4 bbl New Jersey $2 74 25 per bbl: southern. $2-., 3 404 bbl Potatoes Firm. Jersey basket $1 25 b * rrel ' S‘SO: $ ‘ SO: southern basket. 75c.,52.40 Flour Dull; springs patents. s7'„ 735 per suck Pork Stead) Mess S2O per bbl Lard Firmer Middle West- Spot $6 557 665 per 100 lbs Petroleum Firm: New York refined 17c. crude Penim Kama. $1 324, 1 8.4 per bbl SIK, bro '* n *'*’■' :v Per lb >ellow. 3V&3> jC per lb., white. 3’.4,4r per ‘b. TaliOW Quiet; special to extra. O Common Hides Nominal I4c d V 9 V Pa <; k '' r flrm ; native Steers *Utt brands. I4'.c; Colorados. 14e Dressed Poultry Turkeys. 13*., 30c mi 0 ™!” I '. 9 " 2i . c broilers 134,2nc fowls. 10 >. 20c Long Island ducks 204, 25c live Poultry Steßdy Geese. 6■/ 8c turkeys 10 7 15c roosters. 9r- dm ks. 9 „ lftc fowls. I']*' bfpLers 94, inr Cheese Firm State whole Milk Fancy to specials. 30 and.* 1 . 3C - Young America. 15 ! 2 7i8‘ 2 c Butter Receipts 15 259 pkgs market :rreg„i nr creamery, higher than extras ,c; px,ra score ?3>.r; first score* 22 '' " first. 88 to 89 32 " 22 ’-•<•. seconds 21'. 7 21\c f endv ß ' rPip s , 20 market h' „' „ special packs including unusual hennery selections. 18*7 21c. standards 18 7 21c. standards 164,17. c; firsts. 157 mediums 12>,4, 13 ac dirties. 12>/ 13c; checks, ll^ll’jc. Other Livestock Bv United Pre>* TOLEDO July 26 Hogs Receipts 35ft m ? r j 1 10 T blfrtier: heavy Yorkers $4 70 lights iSfaaav 0f Hi S * Ie *- * 4 70 piKS and lights, $3 7 3 25, medium and hea'.ies $44, S2S2X- SV,32V Cattle Receipts. JL, market. steady. Calves Receipts ReciioS r nfh. I,nd Heceipts. light: market steady LA FA 4 KTT E. July 26 Hog market a eft d 'vnJv°,J or hlchrr - 200-300 lb <4 4ft4/ 4 60; 300-325 lb- $4 40 170-200 lbs <4 34 >hs S ta a- a lbs , 53 ' in '" l yn JOO-140 rough* $3 50 down: top calves $5: top lambs. $7 25 . BUFFALO .Ttilv 26 Hogs On J 2i r J f> 80d: * c ' i r ~ . n r so mostly 15/ loc 7 0-6 p lbs *5 7 5.25; bulk. $5 10 ligl t)eights and pig? slow. 544,4 40 Cattle flMbJS'*', 100 h ° ld > vris sft Steads fair ctfls a nd, , S‘“ r< “ nd <4 .40 cows and culls stpahv cutter and low eutte- $1 .407 - sft. medium t > good bulls. <3,,,3 50. c a i,,. Receipts >00: slow: steads top rhoiee *Vn s" 1 sn '"">■< ™d -om'l * Sheep Receipt BOT siov choir Market. 20c oAn oca it • 54 300-3.50 ibv $4 55 W rK' $57 5 50 R 'g !, ravs s eerA. jjood find choice 3'/ 350 medifim choice o °s4 5 *0 3 4? 5 3 frd rood an" choice; $V7 5 4 2.5 i ' m% r Srum h ;nd r, go^ and common and medium. $34,3 sft * cows good an PI 3T R P , Rr ’ H 'fi' l '' Cattle Receipts 6W bom ' v ' rafh Recelpts Tso hea sues. ‘ 240-90(1 807 Vftft (.ght Yorker*. 120-145 ibs ■ ‘®? fO-115 lh n<,i ■ M 54 7 4 24. pigs. Sheen and .' Vreeip^' I ',^ b?’ bß do^ r * jo^hoTe^Vo rioT tv.s s*/f Sd 'v , S0 medium 90 |b) '* *6O- *heen M -,K hf * nd ! *' Jmbs. $4 40 to good sl'6*i h 9 Pn ’ r, '‘ 52 504, a „, r Cl-c ce tt ,‘0 2 25 ewes medium to market C^lv “' Receipt* 225 str .and ’on,Fr* good ft ""‘fast 4T so mi- M !(( ,nd ,hln 544,4 Bft' „ LAST ST lOL IS 111 July 2f Hoes ’'T Including ftftO direr’ ma.Kf 104,15 c h:ghe r thsn a-.erage Tucs- ? n ss 5' hiilk 170-300 h $4 4'4, i2 V 4ft , a a's sfl lb? * ”604, 425 100-130 !b '2 50 73 35 sons $3 254,3 60 C.*"e Re calces 1 50ft market tradVng .ou no earh- aetuon on native s-eers i" dlc 2 , j" n ' "bout steady or. be-,, r kt: and a - w -Jt.anoma stee-s steady at $5 10*7 5 sft -Jcveloped on mixed vear1. 5s Je and fidfer) a fev deals unchanged at $5 51) 7 6 cows and bull* steads vealers. 25c iower cons $2 5ft,„3 24 lr,w cut- *' 507 175 -op sau.sagr bull* $3 35 good ard ehr.ire sealer* 15 sft Slaughter 'ters. 5.50-1 100 :b* gord and choice $575 , r ™™ nd medium $3 507 474 • '°9:' 50ft Ih* chne e 504,7. ood << 75 I'lfS*' *4.50 75 75 Sheep. Receipts .a ,400 market opened steady to t l <ev ntr 10.I 0 . CI, V hycher*: most. Ist asking hl *her, hotter .amh* early $378 25 pack*r* talkin'* *7 75 down throwouts $3 sft far ewe* $2 75 dear iamb* 90 lhs down cod and *he c *7 257 825 common and med urn $3 <04,7 25 yearling sether* 90MO ns. good aid choice $4 257 540 ewes 90-150 ’h* eood and choice $1404,77$ • : Z. c!.t 'syw.n and medium sl7 2 Itv TimiM Sl,trial 'OUISVILIF Jilv 26 CaFlc Receipts 200 slow around <*eads hulk common to medium ste-r- and he:fr' <44, 475 nle-.ner grass h, fers down to’ <3 25 ard under *>*ter ffr.lshed <47574 bulk beef co-s <2 504,3 low cutters and cut’er< $1 5f 225 sausage hull' $2 75 down: mc* s’Ofkers and feeders $4 down. Calves P'Cf;n , i 300 S'ead’. bulk <4 sft down odd head tric'lv choice handvweights to <5 Ho*x Rec(pt* l 000 *4*9dr- better 185-300 b* $4 ”0 300 h u <4 30 140-18' lbs $3 80 ’4O lbs down *2 10 *ows <a 2ft fa~s. <a ’ 4 Sheen Pece;p* 1 Ofto ■■ ippll :.?>.• q Plain fleec-s wet all class fullr ateadv hulk better tru*k lambs $7 254,7 40 choice kinds ahsep* e.-g-b> higher buck* mos'lv <6 254,6 40 -e*-? •.mrra’ure lambs $4 down 'a* ewes $;-.-2 he”er stock ewe. <,- <0 per head Re. Mots Tuesda- Cat- •> 204 ra'ses 264 hogs 972 and sheep 1 <43 Shir rr.er.t Tuesdg.- c a - '- $8 calves. 105 hoe* 128 and sheep I 291 CHICAGO FRUIT M \RKFT /?,, r (life il Vrct CHICAGO Juiv 26 Pr-lt and vegetable nuotaior Apple* Mlch-fan transnarepts bu*he! 90c4,|J 25 Mich gar ard IlllnoLs duchess h-tshe;* 90c*.<1 25 Til>ne:< red' bushel $1 207 150 Raspberries— Michigan Rd* $1 50 72 Cherries Michigan sour $1?!25 ***• $1 257 175 H: ueberrv Michigan 'IZ'l Rare. 'I - 0 <• 157 1 50 r ; I M.'htgar. $2 225 Cantelo-ipe* Indiana standards $125*.,i50; flat. 50775 c Ca--ro-H'lncls 11,7I 1 ,7 2c Beet* Illinois !', 72c Radishes Illinois, ',7 Ic/ Lettuce —Westerns $2 2573 Cucumber* ITino,* 50 7 75c few $1 Cabbage lUir.oyi $150*,, 225 Bears 111,nois 75e®*l2J Celery Michigan 50*',75c. Corn—lllinois 4<V7s! Tomatoes—llhnois lugs. 50*„75c. Indiana and Michigan. 75c711 Peachy IFinois and Indiana. $1®125 Orion 'market California vellowo bushel. *i•* 1 25. wh'tes bushel. $1757 2; Illinot* yellows bushel 50375 -

JULY 26, 1933

HEAVY BUYING SENDS WHEAT VALUES HIGHER High Temperature Reports Aid Bull Sentiment at Opening. BV HAROLD F- RAINVILLE t nilfd rrfi Staff ( ormpondfnt CHICAGO, July 26 —A sharp ns l at Winnipcß and hißh temperaturea in the northwest caused a rush of buyine as the Board of Trade opened today and wheat was 2 so 3 : ~ cents higher Offerings were light and selling from distressed margin accounts appeared ended The other grains followed wheat, with the exception of barley, which again dropped to the 5 cent limit under Tuesday's close and fractionally above the minimum levels. Corn was 1' to 2\ cents higher with good buying Cash Market Slow Oats was l> a to 2’ cents higher on the action in wheat and the crop returns. Provisions also were firmer. The Canadian market shot up l’ to 2 cents as Chicago opened while Minneapolis rose” 4 cents on th high temperatures. Winnipeg was fractionally higher despite a >* to 2'? cents lower cirxse at Liverpool. The cash market was slow in starting. Receipts were 66 cars. Oats Shows Strength Vice-President Robert Boyian announced that all distressed grain had been liquidated and thus aided corn Cash prices were unchanged. Receipts continued small at 242 cars. Oats displayed independent strength Tuesday on the indications from threshing returns that the crop not only was short but of light weight and a low yield. This continued to be a factor today, with support aggressive Barley minimum levels were set just under today’s j inside prices Rye was strong with the other grains. Cash oats was cent higher. Receipts were 50 cars. Chicago Primary Receipts —July 25 - Lst . Today Week w **t 1.037.000 1.622 000 . . .487 000 1,644 000 Oft** . • 492,000 522 006 Chicago Futures Range —Julv 26 WHEAT— Pr , v c . . Hieh. Low 10 3ft rioxe' Sontrmbor . 97 96' • 93’, Decftnbrr . l oo>, 99', 100', 971, CORN Sf-Dtemhrr ... .87 .45', 56', 53’, December .61 59', 60’. 58'.. ... r,CU 66'. .66'’* 64'. OATS 5 D*ember ... 41 39’ 41 37 s * December ... 44 43', 44 411. RYE Sentember ... TS 3 . 72 73'* 69’, Derember 80 ,78*. 80 75 5 . BELLIES ' Sentember ... 730 735 1 October ... . 7 45 TOLEDO CASH GRAIN By fulfill Print TOLEDO. Julv 25 Cash grain clo.se Grain in elevators transit billlne Wheat No 2 red 92 I .*>, 93' r No 1 red 1 cent. 1 premium Corn No 2 yellow. 40., 41c. Oafs No 2 white :i4 1 , •< 55‘,r R\e No. 2. 724, 73c Track prices. 28',c rate: Wheat No 1 red. 85-., 86',e: No 2 red. I 84 „ 85c Corn No. 2 vellc> 50*,; Sic. No. 3 yellow. 494,50 c Oat* No. 2 white 37 ;3R’,r. No 3 white 364,37', r Toledo seed close Clover Cash $8 50 Oc'ober. $8 75 Alvke Cash $8 75 AUjtU*t. $9 Toledo nrodure close Butter Fancy creamery 28c Ebb* Extra*. ',4 7 14',e. Hay— Timothy per cwt . 70r CHICAGO CASH GRAIN By t iiih il Print CHICAGO. Julv 2.5 Cash Brain close: Wheat No 1 red. 90c No 2 fed 91® 91'aCI No. 3 r*d weevilv. 89e: No 1 hard. 89',4,92',r; No 2 hard RR’,793c. sample crotle hard 86',c. No 2 yellow hard. 897 89',c. No 2 yellow hard 89789'jC. No. I dark hard 90r No 1 mixed. 874,91', c: No 2 mixed. BR''i9lr Corn - No. 2 mixed. 48'*„ 4flr; No. 1 yellow. 48',4,50',c; No 2 yellow 47' , 50r No 3 yellow 46',® 49’,c: No 4 yellow 48',e: No. 5 yellow. 45',747',r: No 6 yellow 42V-, 44r. No 2 white. 48V’, So*'4C; No 4 while 47c No. 6 white. 44c sample itrade. 30 „ 32* r,ats - No 2 white 33 1 ,735',r: No 3 white 31 "54,34 c No 4 white 324, 32',c Rvc No sale* Bariev 504,66 c Timothy $47 425 Clover $84,1150

Indianapolis Cash Grain

- July 25 - The Ltd* for ri lo', of yrotn *! th rail of tho Indiat.ftu r >!i‘ Boird of Trad. f ob. shipping point, baxl* 41',7 Nftw York ra'o aery Whca' Strong No I red, 81*r/Mc. No. 2 red. Bft'„B2e No 2 hard 78'., 81c Corn Steady No 7 white, '.64,47c No. 3 white. 45*, 46c. No 2 veilo ■ 44'„45e. No 3 yellow 43',, 44r No 2 mixed, 42® 43e: No 3 mixed. 40'-, 41,Oats Strong No ? white. $24,33r: No. 3 white 31'<,.32c Hay Steady if o h country point* taking 23’,c or less rates to Cincinnati or Louisville, No 1 timothy. $5 504 6 No. 2 timothy. *54, 5 50 Inspection* - Wheat No 1 red. 13 ear* No 2 red. 6 ears. No 3 red. 1 car No 4 red. 1 car. No 1 hard. 7 ears No 2 hard , car*. No 3 hard. 1 ear No 1 mix'd. 4 car*. No 2 nuxod 2 car* Total, 44 ear* Corn No 1 white 1 car N 2 white. 9 car.* No 3 white 4 cars No 2 yellow. 25 cars; No 3 yellow 14 car*. No 4 yellow 9 car* No 5 yellow. ’ car No 6 eliow, 3 car*, sample yellow. 1 car. Total. 67 car* Oat* No 2 whit*. 11 ear* No 3 white. 23 cars sample white 1 car. No 2 mixed, 1 car. Total. 36 car* INDIAN ATOMS WAGON WHFAT City gram elevator* are paving 77 cent* for No 2 xoft red wheat. Otner grade* on their merit* Births Boy* Omer and Dorothy Ca**;tv. Me'hodut hopital Don and Nora Cullv Methodist noapiUl Harold and Novella Wnnir.g M'hodt*t hospital Pa il and Alma O'.dham. Methodist hospital. The,mr.s and Alice He**ong Me'hodist hospital Arthur and Viola Hueber, 338 Eaa> Minnesota Joseph and Veronica Thie Rt Vincent * hospital Euger.e and Mary Doerr, Rt Vincent a hospital Norman and Marv WrighL Rt. Vln*r.' a hoapi'al Charles and Sylvia T*nev. Rt Vincent'* hospital. Girl* John and Rvivia Simpson, Me'hodis* hospital F red and Nellie Julliar, 20 So ;th Rural. John and A.ice Albr.gh’ 1527 South TaL DO! Ear! and Dorothy Farr. 1861 Dex’er Roi/r’ and Florence fcbv. St Vincent ■ no&pita!. F.-anri* and Katherine Rettig R> vmcer. - s hospital Deaths David atic pneumonia Mabel Barkhaus. 35. Long hospita. carcinoma , Wiilard J Wineman 46 1454 South Rich•*bd aortic lnaufficiencv A...ard Barn'* 7 Rilev hoamtal tub'rcu.ous meningitis Dennv D Smith 2* Central Indiana hos0. a., rtreptococcie *ept|e a emia Emma Jean Gill. 2 mo citv hoan.’al. broncho Dti* ,raor.:s Moris rx>aic 36 1242‘ a East Sixteenth, pulmonary t jberc .lo*:x Johon Walker. 55. citv hospital fractured *kull. Charles B Natigle 77 1234 Prospect. artr!osclreo*is Ida Cabin. 71. citv hoanitaL hvpostatie pneumonia Orville Rohert Junior. 11. 424 North West, sarcoma Mart Clarke 77 Aloha Tome, chronle myocarditis Henry F Newell 45 Veteran* hosmtai. anemia John Wealev Bennett 71. 1434 Riatne. chronic myocarditis Emmetv John O Brier 2* 2717 Chftor. Pauline Martha Ro*(j. 3 mo 235 East lowa obar pneumonia William E Greene 76 1405 Brookside. cerenrai hemorrhage Nellie Bovie. 47 St Vincent a hospital, nephritis Susie Baiton. 59 621 West North, paralysis Flora Walden. 61 1332 South Pershing, chronic mvocarditi* Winnie Johnson. 35. citv hospital, thyrotoxicosis. Lllbern RieeeL 47. 1139 South West, chronic endocarditis. Elkll Staoert. 86. 3621 Stanton, chronic myocarditis..