Indianapolis Times, Volume 45, Number 70, Indianapolis, Marion County, 1 August 1933 — Page 10

PAGE 10

Wall Street The Street Takes Kindly to Possibility o< Curb on Speculation in Stock Market. BY RAI PH HEVDERSHOT Tim, Financial Writer WaJJ Street srrms gradually to b * getting around to the point where it would like to see market conditions placed on a more stable basis m this country Not a few of the leading bankers and brokers are in favor of some changes in the methods of doing business on the New York Stork Exchange with a view to limiting speculation Officials of the exchange quite naturally would not like to do anytfflnr which would hurt the business of its members But some of them ire not so sure that levs sneculation would not be a good thing Members of the London Stork Exchange, it is pointed out. do a good business

despite the fact that loose speculation is frankly discouraged Instead of going out soliciting business indiscriminately as is done here. I,ondon brokers will not open accounts for those who do not come to them properly sponsored The result has been that brokers occupy more reputable positions in the community, and markets are not subjected to such violent fluctuations as took place in New York last week a a a Changes Appear Likely It ,s reasonable to suppose, of course that the new administration in Washington is giving close attention to the speculative features of security dealings and it is also in the cards" thpt conversations have been held between representatives of the government and of the institution looking toward corrective measures. From all indications, the exchange authorities are eager to co-operate with Mr. Roosevelt to the fullest

Ralph llondershnt

exte it. They realize, no doubt, that concessions will have to be made if th‘- institution is 'o refnain under private control and supervision. The time, therefore, would seem to be right for certain revisions in trading pn>rices. and an announcement of such changes in the near future would occasion no great surprise in well-informed quarters. a a a Customers' Men a Problem The employment of the high-pressure tvpe of customers' men by brokerage houses always has been a thorn in the side of the Exchange, and from time to time it lias tightened the regulations having to do with thei operations Buis its efforts in that direction have not been as fruitful as they might have been, and it would not be surprising if further step, were taken in that connection. .Some believe the customers' man should be eliminated entirely. Another angle from which revision may be studied is the elimination of the small fnargin trader. Generally speaking, the man with five hundred nr a thousand dollars is less well informed on securities than the person with larger speculative means. Generally, too. he is less able to risk his money in speculation. A definite limit on the size ot soeculative accounts which may be opened with brokers probably would exert an important influence against over-speculation, and at the same time it would protect many small traders against themselves.

New York Stocks —————— (By Abbott. HoDPln A Co.l

Aug. l—oils Prev. High. Low. 11 00 ctose Atncr.ida .... All r.fg 23'. 23 s Marntdall • ‘ * fousi 1 Oil . , }2. 9 * Cant of Del 13% 13% 13% 13 Houston inewi . .. <' y* Houston mid' ... . . . -J. India l Rik .. ••• ■ ,?.• Mid Coni Prt > |f Ohio Oil I* * *1 Phillips Pei I2f '?: Pur. Oil ■ * ■ * Hoval Hutch 30 Shell Union •• Simms Pet ... * Skfllrv Oil ,7. S O of Cal 33 J 33 1 a S O of Kan 20 S O of N J 3u h 2i.. am. ;?/ ’Tidewater Assn . Un Oil of Cal . . . . l*s An- Roll Mills . 10’. 19 10 19% -EOh Steel 37'. 36'. 36% 36% fivers M . 28'. 29'. jFol Fuel A- Iron * 7 1 . ■' 0 Crtr S'eel 23 i ■inland Steel 30 Ludtum Steel *’ AfeKt esporl Tin .. 80 .9 Natl Steel . 3.. 38 R.n Iron A- Steel 19'. 15% I*% If • R n Ir .V Stl nfd . 39', X S Smelt SO 68% 8. Vanadium 23’. 23 23 .2 ' i iMidlsnd |3 13 fj S P:i>e A Pdv 4 1 i X S Steel 51 50% 51 52 U s steel pf.l ... 98 VounKstll . . . *■* 24 4 Ra, ‘ VP Atchison 31 •: * 4 At 1 Cst Line • J* . ?Ae O. . 26'. 26 26 26 an Pac ]* .• 'J, 4 Ch A- Ohio 81* 4 Chi A OI W . * CMA- St P . 8 . J_ CMA- St P pfd 13’ 2 13' 13% 13'. Chi N W . 1" in Chi R Isl 6 5*4 8 Sela A- Hud 8. Ort Northern ■ 25 HI Central 38'i 38 38 3. 1 C SOU ••• *: * Lott A- Nash Vi i MKA- T in'4 m 1 a 10% 11’a Mo Pac. •. •, Mo Pac pfd N V Cent 40’. 4040 40). N V Chi A- St L 23', 23 , NY C A- 8 I. pf ... 27 28 N Y N w Haven fl'a .3 N Y Ont A- Wes ... 1® " Norfolk A- Wes ■ Ig®, Nor Pac “3 * ■ Penn R R • • , J2;* Reading . i. Foil Tac 35'4 24 24 24 Sot: R R 24 23'j 23'. 24*. I‘nion Pac. . • • I*® Wabash } * W Maryland 10 • H Auburn 93', .93 93 'a 92^. Chrvslrr 31*. 31*. 31 2 30 4 Gen Motors 28'. 21*4 28 .9 Graham Mot . * * Hudson 10*. I®% 10-2 *• r™, ::: :.. Jp A, Nash .... 14 14’. 14 14. Packard ........ 4% 4*4 4'* 4_ Ren 34* 3*4 Studebaker ST.5 T . 5*4 Yellov Truck S * Motor Access— Rendit ... 13*4 I*’ 1J a 13* Bohn Alum .. 36 35*4 3* 35’4 Borg Warner 15 13*4 Briggs 9V 9' Budo Wheel 3V ... Eaton Mfg . . . US Elec Ai::o Lite . 16*. 16'a 18*. 16*. Houd Hershev .. 4*4 4% Mullins Mfg 6% Murray Bodv ... 8 7*. Stew Warner . ... .. 8 Timken Rol ... 25’, 24*4 25 25', Mining— Alaska Juti ...... . 23*. 22’, Am Smelt . 31% 31', 31*, 31’. Anaconda . . . . . 16'-4 Cal A’ Hecla 6% 6 6 6% Cerro I> Pasco. 28*4 28% 28% 28% Ciranbv .. 10*. 11*. O’ Nor Ore Home ’as. Mm 215'. 214', 214' • 219 Ins Copper 8 , 6', Int Nickel 17 ! . 17 IT', 17*. Isl Creek Coal . 234, 24 Krnnecott Cop 18', 18% 18*4 18*, Nornnda Cop ... . . 30’, Phelps Dodge 14’. 14'. rooacco* — Am Snuff 45 Am Sum Tob 16% Am Tobacco A 80’. Am Tobacco B 83’. Gen Cigar 38% 38', Llgg or. Myers B .. ... ... 88% Lortiilaid . 20 s . Reynolds Tob B 47', 48*. 47', 46’, Equipments— Allis Chalmers 16', Am Car A Fdv. ... 24 25 Am Loco . . ... . • 24‘a Am Mach At Fdv .. is'a 1 Am Steel Fdv ... 17'* 17 Bald Loco . US 11** 11% ll 1 , Burroughs 14', 14‘, i4 l . 14'. Case J I 66 63 63 61*. Cater Tract . 19'-. 18'. 18*. 19*. Col Palm Peet 15', Congoleum ... 19'. Elec Stor Bat 42 poster Wheeler ... 14 15'. Gen Am Tk Car 3.*% 33’. Gen Elec . 21'. 21'. 21', 22'. Gen R R Sis ... 35', fnesol Rand . . 54 Int Bus Mach.. 139 Int Harvester . 33-4 32'a 33’ 31*. Kelvtnator 10'. Natl Cash Beg 16*, 16 Free At Gamble . 39** Pullman Inc 43’. 43‘, 43’ 44_ Sunmons Bed .. . 20’. Cn Elliott ... 25 . West Air B 24 Westing!) Elec 39% 38*. 39-a 39*. Worthir.gton Pm 22*. t'tllities — Am For P*r 1!* 11 11 11 Am Power At Li* 12 A T A’ T 120*. 120‘. 120\ 121 Am Wat Wks 27 28*. Brock Un Gas . . ... 79', Col O At Elec 19', 19 1# 19*. Com A- Sou .. . 3 1 , Consol Gas 32 >, 52 52 51 s , Elec Pwr A- Lit .. B*. E P A L Dfd . IT*. Int T * T 14', 13*. 13*. 14 . LOu GAt E A 21 20V 20V Hat P*r A- Lit . 15 North Ame: 2H 24V 24', 24*. Pac O A: E 26'. Pub Serv H J .. . 44*. 43', So Cal Edison 22*, gtd Gas 13S 12, 12*. 13 V United Corp 9 V 9 V 9 V 9*. Un Gas Imp 2nv 19 ■ Jo 111 P, r A- Lit A Western Union . 55 54*. 54*. 55*, RukbowP! restore *3 22'4 32’. 22*. OcoTich M', 13’. 13’. 14*. Ooodvrsr 39’, 35% 35*. 35'. U S Rubber IT's 17 17'. I**, U S Rub Pfd ... $0 ge' 80-ine ... . . 4 *m •m*p*s— C’OS ev Hedio B’. Fo\ Film 2*. 2*, Loews ••• 22', 22 l Radio Corp .... 7% <!, 7** 7*.,

RKO >t< Warner Bros 55, 1 lIKII Am Sugar . .. .. 56'., 56', Armour A . 5% S', s', s', Beatrice Cream 17 Boruen Prod 30', 3030', 30*. Cai Parking . 23'. Canada Dry G A 28', 26 26 1 . 26', Cora Cola , 94',: Coni Bak A \o' Corn Prod .77 76 76 75’, Crm of Wheat.. . 29 29 O'" Foods 34,, 35 Gold Dust 20*, 20‘2 G W Sugar 28*4 28', j Hershey _ _ 55 int Sail ~, 22’, Loose Wiles 35 Nall Biscuit 53', 53 53 52*, & ,, &.P 0d,9,J .' 9 , 19 ' 1 ir s i Purity Bak . . .. i7-i 4 17> . S Porto Rico Sug 34 5 4 Std Brands 24'* 24', 24 V 25 United Fruit . . ... 551. 5# Ward Bak A n*. Retail Stores— Ass Dry Goods.. .. ... ... 12', Best * Cos ....... 25 Giinbel Bros 4,. 41 Gr Un Tea i. Hahn Dent Sts . .. ... 51, Jewel Tea 38 36% Krrsg S S . . . 12*. 12 Kroger Groc 25% 25*. Mac R h 51 May Dent St 24 24*. Mont Ward 20 19*. 19% 20% Penny J C 391, Safeway St 51 50% 50*. 50 Sears Roebuck 34% 33 34% 32’. Wool worth ... ... 43 Aviation— Aviation Corp 10 Douglass Air 12’, 12'Curtiss Wright 33 Curtiss Wright A .. 4% 5 Nor Am Av . s’, United Aircraft 30% 30 30 30% 1 < Oemir.l,— Air Reduction 89', 89% Allied Ch- m 115 Am Com Alcohol 39% 38', 39', 39% Col Carbon 51 50% 50% 49' , Com Solvent* 30% 30% 30*, 30% Dupont 68% 68 68 67', Freenort Tex 36% LlQUid Carb .. .. ... ... 30', Math Alkali. ... ... 30 rev Gulf Sulph 26*. ! Union Carbide 40% U 8 Indus Alcohol 55 54 55 54 Na' Distil . 76 75*. 75*. 75'.Drugs— Cote Inc ... .. 4’, Drue Inc 46', 46% 16% 47' Lambert . . 30*, 32 Zomte Trod ... s*. Financial— Adams Fxp . . B*ii 8% Alleghany Corp 5% 5% ..'1 5% Transamerica 6% 6’. Tr font! Corp 5% s*. i Building A mßadtator ... . ... ’3% I Gen Asphalt . 17', 17 i7% 17', Ini Cement ... . 28% Johns Manvllle 42 41% 41% 42 Ltbhv Owens Ols 25*. 24’. 24*. 23’ OUs Elev ... .. 17% Ulen Const 3*. 3% 3*. 3% Miscellaneous— Am Bank Note . .. ... . 20 Am Can . 81% 82% Anchor Cap 21 v , 21 ?1% 22*. Brklyn Man Tr . ... 30% 31 Conti Can 59’, 59 Eastman Kodak .. . . 78 * Owens Bottle 75 74 74 76 Gillette 13 Oltdden ... ... 14 Gotham Silk . . 10' „• Indus Ravon 60% Inter Rapid Tr 6% Real Silk Hose.. 11% New York Curb Be Abbott. Hnpoin & Cos. July 31Close Close Alum Cos of Am 63% Irvtne Aire . 10% 1 Am CPA L B 4 Tan-Am Air 4* Am Cvnn B 108 Parker Rstnrf . 58 Am O A- E 32% Pennroad 4% Am Sun Pwr . 4’, Pioneer G M 10*, Ark N Pwr A 2 St Regis Pap . 5 Atlas U Corn . 13% Salt Crk P 6% Axton . 55 Seeal Lock . 1 Brar T A- L . 13% S O of Ind 27% Cen' Sts El 2% S O of Kv 16% Cities Serv .... 3*. Stall 13% Comm Fxltson 65% Translux 2% Cord ... . 8% United Fdrs . . I*, Derbv Oil IV United Gas 4% Ei!er Flee I', Un L A’ P A 5% El Bd A Sh . 23% United Verde 3% Ford of Eng „ 5% Wool’s Ltd 18% Hudson B M 9% Wright Har ... 6*. Imperial Oil .. 12 New York Bank Stocks 1 Bv Abbott. Hoppin A- Cos —July 31- Bid. Ask. Bankers 82% 83 Centra! Hanover 141% 143 Chase National 24 28% Chmical 36% T 7 National City 3C% 31% Corn Exchange 56 57 First National 1.440 1 460 Irving U% 19*, Manhatten A - Cos 29% 28% Manufacturers *.v% 17% New York Trust 96% 97% Liberty Bonds By r Hiteii f’r< ss NEW YORK July 31 —Closing Liber’ v Bands. decimals represent thirtyseconds' Lioertv 3%s '32-471 102 21 Liberty Ist 4',s '32-4% .. 10130 Liberty 4th 4%s '33-38' 102 28 Treasury 4%s 47-52 109 26 Treasury 4s '44-54' 106 Treasury 3%s 46-56' 104 18 Treasury 3Ss .43-47' 10210 Treasury 3%s .41-43' March m 2 Treasury 3%s 40-43 June 102 Treasurer 2 s 46-49' 10c 1 Treastiu. Si H4i) 98 IS MW YORK tOFFFE BANGS —Julv 31 RIO High Low Close H arch 5 90 5 90 Ma' 8 17 5 98 5 98 jyfr 6 03 September 5 66 December 6 00 5 78 5 80 SANTOS 8 31 8 00 8 02 8 23 8 04 8 07 £ u - v 8 11 September 7 79 7 73 7 73 December 8 15 7 91 7 91 GETS RECOVERY POST OH Executive Who Resigned Is Named On Industrial Board. WASHINGTON. Aug. I.—James A Moffett. $100.009-year Standard Oil Company of New Jersey vicepresident. who resigned because of a dispute over his activities in connection with President Roosevelt's industrial recovery program, has been appointed by commerce Secretary Darnel C. Roper as a member of the industrial advisory board. j

LEADING ISSUES WEAK IN QUIET STOCK SESSION Farm Equipments Move Up on Pegging of Grain Prices. Average Stock Prices A’erag- of thlr'v industrials for Monday high 94 Ik. low 8175 last MOO off 5 T 7. average of twenty rails, 17 50. 44 06, 45 48 off 7 35. average of twenty utilities, 31 40. 29 28 29 99 off 1 57. average of forty bonds. 88 02. off 021 average *1 tn first rails. 93 39. tip 0 27. average of ten second rails, 76 04. off 063 avetagr f ten utilities. 94 88 off 0 13. average of ten indus•ria.s 81 *1 off 058 BY ELMER C. WAL/.ER United Press Financial Fdilor NEW YORK. Aug. I.—The stock market opened irregular today with trading quiet. Farm equipment shares, depressed under the rapidly declining grain markets recently, gained life through the pegging of prices on the Chicago Board of Trade. International Harvester opened at 33. up Is, while J. I Case was at 66. up 4 T s. Railroad issues also showed some strength at the opening of the new month. Illinois Central gained It, to 38 1 2 and Southern Pacific gained the same amount to 25'i. New York Central and Atchison were unchanged. Market leaders, however, continued to sag. United States Steel opened at 50 *. off 1 ! , on 1.500 shares. American Telephone lost „ to 120'v. and Union Carbide was off 'j at 40 Chrysler Motors, on the strength of the excellent earnings announced after the close Monday, spurted on the opening today. The initial block was 5.000 shares at 31 7 v. up 1%. Chrysler earned $1 80 for the quarter and brought the six months' earnings to a profit after a lass in the first three months of this year. The recent speculative favorites —wet shares—moved in a narrowrange. National Distillers gained ’* to 75V U. S. Industrial Alcohol was unchanged at 54. and American Commercial Alcohol declined to 39 V A sharp rise in the United States dollar in relation to other foreign currencies had some effect on the market. Bank Clearings INniA.NAPOI.IS STATEMFS'T Aug. I. Cleiring* t 1.863.000.00 Debits 4.476.000.0 P TREASURY STATEMENT —Aug 1— Net balance for July 29 $833 856 700 09 i lilt, rev reels for dav 2,198 822 12 Customs rects.. mo. to date 22.943.366.50 Investment Trust Shares (Bv Abbott. Hoppm & Cos.) —July 31 . _ , _ Bid Ask. American Bank Stocks Corp 120 133 Anier and General Sec (At. 475 600 Basic Industry Shares . 325 British Type Inv Tr Sh 72 82 Collateral Trustee Shares iAi.. 425 462 Corporate Trust Sh iold> 2 16 Corporate Trust Shares inewi.. 231 238 Cumulative Trust Shares 4.00 Diversified Trust Shares iA>... 587 Diversified Trust Shares iß> 800 Diversified Tr Shares ICI 295 305 Diversified Tr Shares r D . V 475 495 First Insurance Stuck Ctrrp. ... r 66 134 First Common Stock Corp I]] 121 Fixed Trust OH Shares lai... 650 Fixed Trust Oil Shares IRI. 5 87 Fundamental Tr Shares 1 A > 400 i->o r“ nda n n ’' n : a 'i r shr '* *.. . 390 394’ Low Pr.ced Shares 5 g 2 T I ust sharM 18 59 20 20 Nation \\ 01 o Securities 3 iq No Amer Tr Shares < 1953*... ’ 180 "" No A.ntff Tr Shares i 55-'5) ..2 43 265 Sejec.ed American Shares 261 Cumulative Shares. .. 6.75 7,5 iTi i ed Shares 359 413 S'd Amer Trust Shares 100 3no Super Am Trust Shares ,A, 2 92 ’ Trust Sh of America 290 3on Trustee Std Oil ' . 462 42? Trus'ee Std Oil 1 B ! 400 4?v JZ >ll Births Bovs hospital anrt Wllma Blrd,io ' Methodist Earlv and Reba Crouch. Methodist hoshspfta? r ** 1 * nd Beul,h MaM Methodist hospmfl” * nd Hl ‘ dn “ d w "t*on. Methodist hospital** Snd Btlrnat, ' , Andrews. Methodist Homer and Julia Phillips. Methodist hos- ; pital pita'l' 1 * 1 * an d Alma Lyon. Methodist hosholpiliu" " nd E ’ hel BurrU * Methodist.' pita/ 10 * nd Aoober. Coleman hospitai' de *" d I>lvma Earl Coleman hos- j pitVi R ° V * nd E ' hfl Mlller - Cowman hosJack and Nellie Ward. Coleman hos- ‘ pitßl pita*'** * nd E ' a ' V!nslow ' Coleman hosGirls hospital " nd E!,anpr lo'une. Methodist 1 Edward and Nina Stahl. Methodist hos- ! P’.’al Michael and 81ava Nicoloff. Coleman hospital George and Mollie Warn er. Coleman nosptta.

Announcement Breed, Elliott & Harrison Indianapolis Announce the Election of Mr. Edward C. Kriel of Indianapolis as a Member of the Board of Directors and Vice President ■ Breed, Elliott & Harrison Investment Securities Established 1912 109 North Pennsylvania Street i

THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONOS

The foilowmß quotations do not represent ac'ual bids or offerinßs. but merely Indicate the approximate market level based on buying and aellmß inquiries or, recentl transactions —AM*. 1— STOCKS Bid. Ask Beit Rail A Stock Yards, com 2* 30 Belt Rail A Stock Yds pfd B*A 45 50 Cen' Ind Pwr pfd 7% .... 9 12 Citizens Gas com 14 U Citizens Gas Cos pfd Sg- 63 6. Home T A- T F* Wayne pfd 7 - 36 40 Ir.d A M.c.fi Eiec Cos pfd 7G. 70 '4 Ind Ger. Service Cos pfd 8g 63 w Ind Hvdro Elec Cos 2< J® Ir.dpls Gas Cos com 4® 44 Indpl* Pwr A Lt pfd g 61 65 Indpls Pwr ALt pfd S’iG 6* J® ' No Ind Pub Serv Cos pfd 6G S5 39 No Ind Pub Serv Cos pfd s'j'- S3 37 No Ind Pub Serv Cos pfd 7'. 37 41 Indpls Water Cos pfd 5"- 89 93 Ind Pub Serv Cos 6G 35'a 39‘j Public Serv Cos of Ind pfd 6G 14 1 > Public Serv Cos of Ind pfd 71 34 38 South Ind Gas A El pfd ' 58 62 Terre Haute r.e-c pfd 6'- .. 30 35 BONDS Belt R R A Stkyds 4s 1939 88 92 Citizens Gas Cos 5s 1942 .. 84 88 Home TAW sa*5 a* 1955 ... 96 100 Home T A T W As 1943 98 102 Indpls Gas Cos 5s 1952 ‘2 >5 Indpls Rvs Inc 5s 1967 29 ~2 Indpls Water Cos 4’as 1940 98 2 100'a Indpls Water Cos 5s 1960 93 9. Indpls Water C'o 5s 1970 92'a 96'a Indpls Water Cos s'aS 1953 100 103 indpls Water Cos s'aS 1954 100 103 Kokomo Wat Workrs 5s 1958.. 79 83 Lafavette Tel Cos 5s 1957. 83 8. Muneie Water Works 5s 1939 92 a 96'a Richmond Water Works. 1957. 84'a 88 Terre Haute Wat WK 5s 1956 84'a 88 Terre Haute Wat Wk 6s 1949_ 93', 97', Traction Terminal Cos 5s 1957 45 49 Indianapolis Cash Grain —July 31— The bids for ear lots of ".rain at the call of the Indianapolis Board of Trade, f. o b . shipping point, basis 41'a New York rate, were: Wheat Weak No. 1 red. 794/81c; No. 2 red 78ii80c: No. 2 hard. 78'i80c Corn Weak No 2 white 434/ 44c No. 3 white. 42'11.43c. No 2 yello-. *Hi 42c; No 3 veilow 4041,* lc No. 2 mixed. 394 t 40c No 3 mixed. 364; 39c Corn Weak No. 2 white. 30/i3lc: No. 3 white. 294/30c Hav Steadv if. 0 b. country points tnkinß 23 ;C or less rates :o Cincinnati or Louisville' No 1 timothy. *16.50; No. 2 timothv. $5 50'/i 6 - Inspections— Wheat No 1 red 6 cars. No 2 red 7 car. No. 1 hard. 2 cars; No. 2 hard. 2 cars. No 1 mixed. 1 car. No. 2 mixed. 1 car. Total. 19 cars. Corn No 2 white. 6 cars; No. 3 white. 2 cars. No 1 yellow. 3 cars; No. II vcllow. 22 cars- No 3 veilow. 9 cars; No 4 yellow 4 cars; No 6 veilow, 1 car. Total. 47 cars. OATS No i white. 18 cars; No 3 white. 22 cars. No 4 white. 2 cars; sample white, 3 cars. Total. 45 cars. CHICAGO CASH GRAIN fill t nit fit fires* CHICAGO. July 31 Cash Rrain close: Wheat No 2 red. S', 'n 89' ac; No. 3 red. 88' .4/89c; No 1 hard. 89' '</ 90' ic; No. 2 hard. 87', "'i 90'2c: No. 2 veilow hard 88’, 4/ 89c No. 1 mixed. 88'i4i89'jc; No 2 mixed 88S9'jC No 3 mixed 87',4/88'jC; No 5 mixed. 84' ,c Corn No. 2 mixed. 46r No 6 mixed. 39r No 2 veilow. 4S J , 4/ 4e- No. 3 veilow. 45u4S'c: No. 4 yellow 44c: No 5 veilow 41 Uc: No 6 yellow , .37' .4; 40c No 1 white. 47',r No 2 white. 47c No 3 white. 46’ic: sample arade. 294/ 34c Oats- No 2 white. 334/35c: No 3 white 31 1 34c. No 4 white. 304131’,c. Rve -No sales Bariev 464; 65c. Timothy—s 4 4; 4 25. Clover SB4; 12. ST. 1.0111 CASH GRAIN fill T’nitrti fires* ST. LOUIS. July 31.—Cash Rrain: Wheat —ln Rood demand, 54i 6c lower; No. 1 red. 89'ic: No. 2 red. 894189'jc; No. 3 red. R84;88' 3 c; No 4 red. 86c. No 5 red. 83c: No 2 red earlickv. 774; 79c: No. 3 red aarlickv. 76 , j4;86c; No. 4 red garlickv. 16c No 5 re’d Rarlickv. 76'ic: sample Rrade red Rarlickv. 72c; springs, 78c; No. 1 soft white. Me hard Rrades. 64i7c lower No. 1 hard. 854;36c: No. 2 hard, 85'jc; sample hard. 85c; No. 1 mixed. 864;86'-c; No. 2 mixed. R6r Corn—ln slow demand. 2'-4;5e lower; No. 1 veilow, U'jc; No. 2 veilow. 44' ; No 3 veilow. 44 c; No 1 white. 46'2C. No 2 white. 46-.-c. Oats— In slow demand: 44; 5c lower: No. 2 white. 33c: No. .3 white. 304; 31c; sample white. 29c. No. 3 red. 40' jC. Produce Markets Delivered In Indlanapoll* prices: Hens, heavv breeds over 4' ? lbs.. 10c: Leehorns. 7c. Broilers: Colored sprlnaers t'.a lbs up. 13c; sprinpers tLeßhorn'. l'i lbs. ud. 10c barebacks. 7c; cocks and staas. 6c. Leghorn cocks and Leghorn stags. sc. Ducks, large white, full teatnerea and fat. over 4 !bs. 4c: small and colored. 3c. Geese, full feathered and fat. 3c. Young guineas. 20c: old guineas. 15c. Eggs—No. 1 fresh country run eggs. lie. Each full ege case must weigh 55 lbs. gross; a deduction of 10c per lb. for each lb. under 55 lbs. sros swill be made. Butter —No. 1. 264727 c: No. 2 244; 25c. Butterfat—2oc. Quoted bv the Wadlev Comnanv. BV UNITED PRESS CHICAGO. Aug 1 Eggs Market, weak, puces unchanged to 'jc lower, receipts. 4.696 cases; extra firsts. 12'.;4; 15'jc. firsts. 12'<; 13c: current receipts. I*)'j4; il',c; dirties. 9',c. Butter Market, steady, unchanged to 'jc higher; receipts. 15 487 tubs: specials. 21'021'zc: extias. 20'.jC. extra firsts, 19'24i2ur: firsts. 18'<; 19c; seconds. 17'.; 17>jc. standards. 20‘ c. Poultry Market, easy; receipts. $5 trucks; fowls. 10v; lie. Leghorn broilers. 114; !l'-c: Leghorns. B'je; ducks. 7*iloc: geese. 74;9c. tttrkevs. 104; lie; roosters. 7c: broilers. If j'u 15c. Cheese Twins. U'jif; 13*,c: Longhorns. 13’,';14c. Potatoes On trarx. 177; arrivals. 36: shipments, f.2. ma:ket about steadv to weak: Kar^a 1 - and Missouri sacked Cobblers. $200'.;2 80: New Jersey sacked Cobblers. $34; 3.10; Nebraska sacked Cobblers. 42.J5; Idaho sacked Triumphs. $2,754; 3. CLEVELAND, Aug 1 Butter Market, rteady: extras. 24'2C a pound, in tubs; standards. 24' jc a pound, in tubs. Eggs Market, steadv; extras. 18c. current receipts. 12c. extra firsts. 12' ic. PoultryMarket steadv: heavy fowl. 124; 13,; Leghorn fowl. 9c: heavv broilers. 144; 16c. Leghorn broilers. 104; 12c; duexs. 74;l0c: old roosters. Bc. Potatoes —New Jersey and Long Island, U. S. No. 1 Cobblers, mostlv around $3 10 a 100-pound sack; Virginia, few sales. $2.904;3 a 100-pound sack. Deaths Norman Bruner. 36 Veterans hospital, chronic mvocardltis. William D Scott. 82. city hospital, fractured skull. B-ttv Lou Scott. 6. city hospital, fractured skull. Anna Sapp. 80. 910 Church, carcinoma Olhc Kvle. 63 334 Harlan, chronic mvocardltis. Henrv W Jotliffe. 56. Methodist hospital. carcinoma Ravmond Puckett. 33 Central Indiana hospital, iobar pneumonia Gerald Baber. 12 MethotfTst hospital, suppurative meningitis

GRAIN FUTURES RISE LIMIT IN FIRM TRADING Sensationally Bullish Crop Reports Expected Today. RY HAROID F R4IXVILLF United Press Mass Correspondent CHICAGO. Au*. I.—Reversing th trend of the last three sessions, grains opened at the maximum levels on the Board of Trade today, aided by the new minimum restrictions placed by the directors on declines Monday night. Wheat started 2 T , to 5 cents higher with September Being slightly uneven, but the deferred months up the full limit. Corn rose 3 : s. to 4 cents with oats 3 cents higher and rye 3 to 4\ cents higher Provisions were steady to 30 points higher, lard showing the advance. Strong cables and more confidence were the chief factors at the start. Crop news also came in for slightly more consideration and there was some evening-up for the private reports due later today. Prices Again Pegged In an attempt to check the declines in grains, directors of the exchange Monday night restored minimum prices on all grains. The old minimum were revoked at the opening last Friday and the closing out of weakly margined accounts brought declines of 15. 12 and 9 cents, respectively in wheat, corn and oats since then. The ruling is effective until Aug 15 and can not be changed then without a threeday notice. Prices can not go below Monday's close. Better weather was reported in the Canadian and American northwest Monday. Liverpool was slightly stronger than due. holding steady, although prices showed about 2 cents lower in American money due to a 10-point drop in sterling. The 5-4-3 ratio on price advances holds in effect. No Cash Corn Sold The country sold no cash corn Monday. Cash handlers are claiming to be hampered by their inability to hedge in the futures pit. Restrictions have reduced trading in

110,000 Shares Capital Stock Kiley Brewing Company, Inc. (An Indiana Corporation) MARION, INDIANA TRANSFER AGENT REGISTRAR Continental Illinois National Bank and City National Bank and Trust Trust Company of Chicago Company of Chicago The capitalization of the Kiley Brewing Company, Inc., upon completion of this financing will be as follows: Authorized To Be Outstanding CAPITAL STOCK (Par Value SI.OO per share) 250,000 Shares 230,000 Shares The jollowimg it summarized from a letter of Mr. Robert P. Kiley, President of the K ley Breuing Company, Inc.:

On July sth, 1933, the Kiley Brewing Company, Inc., was injcorpcrate4 to take over all the buildings except one, and pert of the equipment formerly the property of the Indiana Brewing Association, whose plant was in continuous operation in the manufacture of beer in the City of Marion, from 1897 to the advent of prohibition in Indiana. The Indiana Brewing Association was operated and controlled by the Kiley family from its organization and had always operated at a substantial profit. Marion is a city of approximately 25,000 population, and within a radius of 100 miles 1,500,000 persons reside. The surrounding territory is easily reached by main highways in addition to the following railways: New York Central, Chesapeake & Ohio, Pennsylvania, and Nickel Plate Railroads. The Kiley Brewing Company, Inc., is licensed to manufacture legalized beer under Indiana .Stale Permit No. 19. The Indiana law permits the issuance of one manufacturing permit to each 150,000 population in any district. The rigid protective provisions of the beer control law are decidedly favorable to breweries located in the State. The Company's property is located in the City of Marion and consists of approximately nine and one-half 49 1 a > acres, and the buildings thereon, which include the brew house and mill building, slock house, wash house, racking house, stock and storage building, ice house and ice storage building with a capacity of 32 tons a day, engine room, boiler house, machine room, bottling building, office building, and garage. The buildinga are in unusually good condition and are now in process of complete renovation. The engineer in charge of construction advises that upon completion of additions and installation of new machinery the plant will have a capacity of over 150,000 barrels annually on the basis of two brews daily of its 250 barrel brew kettle, with ample facilities for further expansion. Mr. Carl J. Keifer, Brewery Consultant and Engineer, Cincinnati, has examined the property and hi* report under date of June Ist, 1933, is on file at the offices of Wardell A Company, Inc., Chicago, and is there available for inspection by purchasers and prospective purchasers of stock upon request. The location of the property is ideal for brewery purposes, a six inch well supplying ample water. A river of size bounds the property on the north, supplying ample sewage facilities. Adequate railroad facilities for receiving raw materials and shipping the finished product are provided by a siding the entire length of the property at the rear of the buildings. This siding connects directly with the Big Four Division of the New York Central, Chesapeake & Ohio, Pennsylvania, and Nickel Plate Railroads. The proceeds of the sale of this issue of Capital Stock will

Condensed Pro Forma Balance Sheet, July 11, 1933 Prepared from Pro Forma Balance Sheet presented by George W. Ross*tler & Cos., Certified Public Accountants, to give effect to the sale of 110,000 shares of Capital Stork. ASSETS • INABILITIES CASH Ba'snes ftr pro- Ct'RRENT LIABILITIES: posed expenditures I 33,133.04 Accounts payable •••■ I * * CASH proposed to be expend- Real estate ar.d personal property taxes for the year 1933 ed for rehabilitation of and portion accrued at July 11. 1*33 SIS 0# additions to buildings snd Beserva for balance of organisation expenses—estimated Mot OO for additional machinery Total current liabilities $ 3.343 99 and equipment, and for CAPITAL STOCK AND St HPL' ikegs cass and bottles. 149.413 9# Capital stock—authorised 250 999 shares of II."9 COST OP REHABILITATION* par value. es*hOF PLANT—Paid or In- To be Issued for plant property acquired—l29.o99 curred to Julv !!. 1933 1.996.13 ehares 1129.999 99 PLANT PROPERT7 as p- Proposed be sold on the basis of an option given praised by The Lloyd- to Wardell A Company, Inc—ll9,ooo shares ... 119,999 09 July" s ** 193?™ PinT “ Total capital stock 1230.990 99 Net sound value ....... 137,403.31 D oTga^rraHo^rxpenses !!: Excess of proceeds to he received from sole of Organiseron expensee 110. one shares of capita! stock upon .xrei.- of Prana*dT'-ense etc' 2 900 99 option held by Wardell A Company. Inc. over Prer 1 I.cense, etc I.IOtVQO par value thereof 1229 909 90 Total deterred charges 11.370 14 Ex-*p of appraised net sound value of plant property acquired plus cash received snd lee, reel estate and pereonal prop-tv taxes assumed over the par • a'ue of 129/ 0 shares of capita. stock Issued therefor 4M33 21 Earned surplus 594771 Tota! surpiua 2<<1.T39 94 Total capital atock and surpiua 494.729 94 TOTAL P...T....1... >693.43? 34 TOTAL 1401 032.44 All legal matters in connection with this issue will be passed on b' - Messrs Wilson & McUvgine of Chicago for the bankers, and by Messrs. McHale A Douglas of Indianapolis for the Company. Technical investigation of the brewery has been made for tbo undersigned by The Lloyd-Thomas Company, Chicago. Financial statements prepared by George W. Rossetter A Cos., Certified Public Accountants, Chicago. Wardell & Company. Inc, hold an option dated July sth, 1933, and supplemented July 22. 1933, to purchase the 110,000 shares of the capital stock of the Kiley Brewing Company, Inc., offered herein at a price of |3.00 per share net to the issuer. All advertising and sales expenses, including dealers’ and salesmen’s commissions are to be paid by Wardell £ Com pan v, Inc. We offer this stock as, if, and when issued and accepted by us, and subject to prior sale. These shares are offered at a speculation. Listed on the Chicago Curb Exchange—Price at the Market Descriptive Circular on Request ardell & Cos. Inc. 1. P. Burke & Company Telephone Dearborn 2050 Incorporated 120 South La Salle Street, Chicago 217 . 224 cimJCT “napolis, Indiana

Chicago Stocks Abbott. Hop Din A

TOTAL SALES. AS.MM SHARES —Julv 11— High Low Cloe Acme Steel Cos ... . 32 A*be*t(>* Mfg 4 l 44', Amoc Telephone t T NI .... ... *2 Bxtin-Ble.Ming .. . B‘, 7 . 8 : Benctix Aviation 16 14' 15 Bink* Mfg 3 2S J Borg-Wrner 15'-, lJ’* 14’, Brch * Sons . ... 8 Brown F A Wire A ..7'. 7 7 Brown F A Wire B 3', E L Bruce Cos 19>, :g', 19 Butler Bros *>■ 4', Berghoff jj 7 . ll‘j 12 Cen’ HI Pub Ser. pfd 26’, 25 2 J Cent Pub Cttl Cent A So West 3’ 2 2', 3 Chi A Northwestern 10 s * 9', 10 Chicago Corp corr. 3', 3 Chicago Corp pfd 25 '2 25' 25 ‘2 Chicago Flexible Shat: 12 IJ>2 ll'j Chicago Yellow Cab 12 If, If, Cities Service 3’, 3'* 3’, Club Aluminum >, Commons Edison 66’, 65 65 Consumers ’, ’, Cord Corp . 9 s , B’, B s , Dexter Cos 7 6 6 Elecric Household 9 8 B' a Fitzsimmons A Connell .. jo Goldblatt Bros 20', 19', 2'V. Great Lakes Aircraft . >, the pit sharply. The corn belt received some rains Monday nigh’, but insufficient for a general reliefing cf the situation Oats has been content to follow the major grains. The private crop reports, due after the close today, are expected to be sensationally bullish on all grains. The full extent of the damage of the past five days is not expected to be shown, however, until the government's report is released. Chicago Primary Receipts —Julv 31— Todav Last Wrk Wheat 1 454 000 2.317.000 Corn . 1 280 000 2.444 000 Oats 1.212.000 830.000 Chicago Futures Range - Aug 1— WHEAT— 9:45 Prev. High. Low. CUT close September .. 97’. 95 97', 92', December . . . . 1 00’, 95 , Mav 104’, 99’, CORN September ... 53’, 49’, December 58 s , 58 . 58’, 54’, Mav 64', 64 64>, 60’, OATS September ... .39 s , 39 s , 39 s , 36’, December ... 43', 43 43 40', Mav 47’ 44', RYE September 72 5 , 68 December . 78 s , 78 78 73 5 , Mav .. . 85 83 .83 80 BAPLEYSeptember ... 54*4 53 December ... ... .57’, INDIANAPOLIS WAGON WTIFAT City grain e!vators are paying 76 rents for No 2 soft red wheat. Other grades on their merits Baltimore <fc Ohio railroad earns June net income of $1,030,274. against ent loss of $34,884. in June. 1932.

Great Lakes Dredge . 15', 13 14 Grayhound Corp t Grigbv-Orunow . . Jij Hull Printing 6*, 6’ 3 6', Hart. S A M' 27 26 26 Heudai'.le-Hershev A 11 i0 ’ a 11 Houdaiile-Hershei B 4’, 4 4‘ Illinois Brick 5 4', 4'a Iron Fireman I . 6' 2 • Jeffr,on Elec 24 20' 3 24 Katr Drug Jo‘, Kei-.-Rad Tube A lamp 3 Kcvx'.une Steel 14 12', 12', Libbv-MrNeil . 51, Lion Oil Refining Cos 7 4 6 Lvnch Corp 27 2 24 25 Marshal! F.eld 13'j If, 12 McGraw Electric . . 4', Mickelberrv's Food Pro *'j 3’, 4 Middle West Utilities '2 s ’ Mtd Wes Utu 6 pfd. 3*a 2 2 Midland United 1 Mndtr.e ... 301, Monroe Chemical .. 234 National Lea’her 1* 2 Nat onal Securities Inv . , 2 National Union Radio 1 Noblitt Sparks Ind Inc 25 23 23 No Amer Light A P-< r s', Northwest Bancorpora S' 2 Perfect Circle . 23' 2 Pines Winterfront 3', 2'2 2' 2 Prirr.a Cos 30 26' 2 27 Quaker Oats 132 132 132 Seaboard Utilities Sh Sears Roebuck 35 33 , 32’, Stgnode Steel Strapping 22 Studebaker Mail A 19', !7 j 18 : , Swift International 25 22', 24 Thompson JR 10' 2 10 10 U S Radio A Tel 14’, 13 13'j Util Power fs Light A I’, L'tlitA Ind I s , Utility A Ind pfd .. . 4N 4'. 4', Viking Pump pfd .... 2!’, Vortex Cup Cos 7', 7'j 7'• Vor'ex Cup Cos A . .. 26', 26’, 26'. Wahl . r, Walgreen Cos com 17’, 16' , 17 Zenith Radio 2', 2‘; 2’* In the Cotton Markets - Julv 31 CHICAGO High Low Cloje January 10 85 1055 in 55 March U 00 10.70 10 70 May 11 15 10 85 10 83 Ocober in so :o il 10.21 December .... 10 78 10 32 10.42 NEW YORK January 10 so 10 41 10 41 Mas 10 90 10 55 10 77 December .. 10 72 10 32 10 45 NEW ORLEANS January . 10 59 1036 1036 March . io 82 10 50 10 52 Mav 10 70 October 10 50 10 06 10 10 December 10 63 10 25 10 30 Daily Price Index fill I nit' >1 fires* NEW YORK. Julv 31 Dun A Bradstreet s daily weighted price index o( 30 basic commodities, compiled for the United Press •1930-1932 average, IOOi Todav 101 ya Saturdav . ms > Week ago . . ] 104 55 Month ago . . Year ago 76 si 1933 High Julv 18• . . 113 52 1933 Low 'Jan 201 61 86 iCopvrighi. 1933. by Dm, A Bradstreet. Inr . RAW SUGAR PRICES —July 3! High Low C!os January 1 49 1 47 1 47 March 1 58 1 52 I H Mav .... 1 60 1 56 1 58 Julv 1 65 1 62 1 64 Sptembr 1 42 1 35 1 39 December . 1 47 1 46 1 46

be used for improvements to the Company's plant, for the installation of new equipment therein, and for working capital and general corporate purjKises. The amount to he received by the Company from the sale of this stock will he deposited in escrow with the Continental Illinois National Bank & Trust Company of Chicago, under an agreement providing that these funds shall he available to the Company only if a total of $330,000 (or such levser sum as the Secretary of State of Illinois shall deem sufficie.it! shall have been so deposited, whereupon the escrowed fund* are to be paid to the Company on its order, approved by Wardell & Company, Inc., and accompanied by certificate of the engineer in charge of the proposed additions to and rehabilitation of the brewery and the installation of equipment therein that obligations in the sums so requested to be paid have been incurred and are payable lor such additions, rehabilitations and equipment, and upon the engineer's certificate of completion of the work the balance of the escrowed fund* are to he paid over to the Company for working capital and general corporate purposes. If the entire $330,000 (or urh lesser sum as the Secretary of State of Illinois shall deem sufficient 1 shall not have been deposited in escrow beforo January 25th, 193 k, purchasers of stock will have the right for a period of not exceeding thirty davs to surrender their share* and to receive hack in full consideration for the same Three Dollars for each share surrendered. The management of the company will be in the hands of Mr. Robert P. Kiley. President of the Company, who prior to prohibition in Indiana was actively engaged with other members of his family in the brewery business through control of the Indiana Brewing Association. Owners of the capital stock before this financing, with their addresse* and number of shares, are as follows: Name and Address Ajnount Robert P. Kiley, President & Director, Marion, 1nd....101,500 Philip J. Kiley, Secy.-Treas. & Director, Marion, Ind... 3,000 G. L. Kiley, Marion. Ind lO.fkiO John Burke, Vice Pres. & Director, Indianapolis. Ind... 7.500 120,000 T'pon completion of the purchase by Wardell & Company, Inc., of 110.000 shares of the capital stock of the Kiley Brew, ing Company, Inc., H'ardell & Company, Inr., and others will be assigned by certain of the stockholders, without additional consideration, 19,000 shares of the company's capital stock. Under the contract held by the bankers, no salaries may bo paid any officers or directors of the company until such time as the company i in active production of legalized beer.

_AUG. 1, 1933

FORM COMPANY TO TAKE OVER BREWERY PLANT Output of 150.000 Gallons of Beer Annually Is Scheduled. Kilev Browing Company Inc of Marion. Indiana, has boon organized to take over the property formerly operated as a brewerv b\ the Indiana Brewing Association from 1897 until the advent of prohibition in Indiana, by the Kilev family. Tiie new company is licensed to manufacture beer under Indiana state permit No 19. and will be under the management of Robert p. Kiley. president In order to finance the rehabilitation of the property, to provide the necessary new equipment, working capital and for other purposes, a syndicate headed by Warded sic Cos. of Chicago and T P. Burke .V Cos. Inc . of Indianapolis, is offering for public subscription 110,000 shares of capital stock Upon completion of the financing, the company will have outstanding 230.000 shares of capital stock of a total authorized issue of 2r>0.000 shares, and will have no preferred stock or funded debt The stock has been listed on the Chirago Curb Exchange. After completion of contemplated additions and the installation of new machinery, the plant will have a capacity of 150.000 barrels annually In the Air Weather conditions at 9 a m : Southwest wind. 15 miles an hour; temperature, 82; barometric pressure. 30.06 at sea level; ceiling, unlimited; visibility, 15 miles; grneral conditions, scattered clouds LOANS AT REASON AHI.r. RATES FOR All. WORTHY I*l RI'OSES The Indianapolis Morris Plan Company !><*ln nr* nml Ohio St,. 441. 4.VM