Indianapolis Times, Volume 45, Number 77, Indianapolis, Marion County, 9 August 1933 — Page 13

AUG. 9, 1933

.Wall Street.

Opinions in Wall Street Differ Over Difficulties of Enforcing New Business Code. Bv RALPH MENDER S *HOT Time* Sprrlal financial Urtpr

The new blanket business code appears to have gone over very well, kurprising a great many people who had doubted its voluntary acceptance. And. from ail indications. It is to be enforced very rigidly. General Hugh S. Johnston, administrator of the national recovery act, says violators will be prosecuted to the full extent of the law. Opinions differ in Wall Street over enforcement of the new cede. Some think the government will have its hand- full keeping the boys in line, while others feel it will be a relatively easy job. Incidentally, it may be said that leaders in the financial district appear to be growing to like the idea. Signers of the code probably can be listed in three general groups: Those v ho thought they could get some free advertising by getting on the bandwagon: those who were strongly for It and wished to show they were behind the President, and those who thought they would be forced

to sign eventually, and figured it would be good policy to fall in line now. Most of (he trouble probably may be pxpected among those in the first group listed. They are likely to chisel wherever possible, making the most of the insignia, but evading the terms of the agreement at every corner. The government may be obliged to hire watchers to seek out those evaders, but the chances are that their competitors will snitch on them if the violations threaten to hurt their businesses. a a a Trade Code and Business It still is much too early to get a line on the probable effect of the code on business. Most people grant that in theory' It sound very well, but they are not so certain that it will work out in actual practice. Thev prefer to wait and see. The stock market is expected to wait, also, but some of the best analysts maintain that if either business or market prices begin to show signs of real

Ralph Hendershot

weakness the inflation needle will be brought into play once more. Some insist that inflation, or at least talk of inflation, will be revived in the near future. But there are differences of opinion on that score. Those who take an opposite view are of the opinion that President Roosevelt is satisfied to let prices stabilize for a time in order to let the new code get into operation. After the consumer power has been built up sufficiently to support present price levels, they feel he will again direct his attention toward another forward movement in values. a a a Inflationists Still Working It is known, of course, that inflationists have not weakened at all in their drive for dollar devaluation. They still maintain that the only way out is to create more dollars, and they arc pushing the administration as much as possible in that direction. But Wall Street has come to believe that Mr. Roosevelt can not be pushed much. He lends a willing ear to all suggestions, but he accepts only those he feels he can use to advantage Consequently, the Street is not inclined to anticipate too much, preferring to await actual developments.

New York Stocks (By Abbott. Hoppln At Co.I

A '* 9 10 10 Picv o.lv— High. Low. Kl> T. clots*. Amerada .. ... 33 32 A’i Kfg 24-. 24'., B.irr.Miiil ■■ ' < Consol Oil I0 ? J l } Cout ol Dpi 13’ 14 Hun n il * HP'* 4 4 Hi . toil soldi 25.* Mul Coni Pc 11 ‘ Ohio Oil 11* I* ♦ i ' 10 Phillip oPt 13 13’. Pure Oil 8‘ •? Sim Oi' ... .. “2 a Kiel! Union ... 8 S .... . . . ■ 6' Sec V.IC . . U* U s S O 111 Cal as*. 3j'a 35’s 35’j S O u! N J 36 36> Sun Oil ... . 43 Texa Corp ... ... 22 21’ Tidewater Assn ... ... B'a 8 till Oil of Cal 190 19'. Steel.— Am Roll Mills .. . . 21 1 a B •!, Steel 40’a 40'. 40*. 40', Bver AM . . 31 1 a 31’. Cul Fuel At Iron .. ... s’* 5 1 . Cruc S'eel ... ... ... 30 Cull Sts Steel ... ... ... 23 Inland Sterl ... ... ... 3.S Ludlum Steel ... . . 14’a McKeesport Tin. .. ... 31 80’ 4 Natl Steel 40', Rep Iron A- Steel .. ... 17 1 a Rep Iron A; Stl p .. ... 39 38 U S Smelt ... ... 78‘4 76', Vanadium . ... ... 25' 4 24* 4 Midland 14'a 14'. U S Pipe A- Fdv . 1 !S : * U S S’eel .. 34 V 54'a 34'a 53'. U S Steel pfd 96' Young? n 8 4 T .. ... ... 25 J Italia Atchison ... 68'i 58', Ati Cat Line ... ... . 45', B At O 28' 28'. Can Par . . . . 16'. 16'a Ch A- Ohio 45’. 45' 45‘a 45’. t M A- St P St, 9 C M A S! P pfd .. . . 14* a 14 Chi N \V . .. . .. 11 10\ Chi R Isl 6* 4 Chi R I 7 . pfd 10'. pela A- Hud "I*4 Erie 22'. 22* ti:t Northern pfd .. .... 26’, 26 111 Central ..... .. ... 41 40'a K C So u 19 Lou A- Nash 55 M K Ac T 11*4 Mo Pac ... 6’a 6*4 Mi Pac pfd 9’a 9'a Y Cent 43'a 43’a 43* 43'a N Y Chi A- St L 26', 26', 26'a 26', N Y C * Ct t p 29*4 N Y New Haven 26 26 N Y On' A Wes. .. . . 12 *a 11 * a Nor Par 24*i 25’a Pentl n R . 35'. 35'a 35', 34', IK • • . • • 48*4 Son Par 27', 27‘a 27', 26'. Sou R H ... 36*4 26'. 26', 26 Union Par ... . 116', Wahash ... .. ... 4 1 , 4 4 \5 Maryland 12 Motors— Auburn 57’. 57', 57’. 56 Chrysler 38’. 36'. 38*. 37', r. Motors N 31 30'. 31 29'. Graham Mot. . . . 3*, Hudson 11*4 ll'a ll*s 11’, Hunt* s>, S'. s'. V, Mark Truck ... . . 35 Nash 31 20', 21 20', Packard S', 5 Pro 4 1 a 3*. Studebaker ... 6 s^, Yellow Truck s*s s' Motor Arress— B nn.x .... 16*4 1* l6*s 16 a Bohn Alum • • . 40 Bore Warner... 16k. 16 J6>, 15 . Briges ... —• 10'a I®' l£i* *2,* Budd Wheel 3’. 3’, Eaton Mist }2 " Flee Auto Lite . . 18*. 18 Hourl Hershev . 4** 4’a 4*. 4|, Mu! lin.' Mfg *;a Murray Bndv B*. 6], Stew Warner ... B’a 8", Timken Rol ... 36*. 26’, Mining— Alaska .tun ... 25', 35' 25', 25>* * Smelt 34H H 4 34'. 34. Anaconda 1, 16 * i< 1* * Cal A- Her - .* .6’* Cerro TV Pasco 33 32'a 33 1 . 31*, Granby 11 }1 ‘ Gt Nor Ore .. . . 13 Hi irrstake Mitt . 230 How Sound 24 23 a 24 23', ln< copn-T . 7 . • int Nickel • 19'. 19 19’* 19 Is! Creek Coal .. • , 24’, Ker.necott Cop . .. ... -2. Norar.d* Cop ... . . 32 , 32-, Ph.e'ps Podge 13’, iS'a Tobacco* — Am Sum Tnh 18_. Am Tob (A . . 85*. Am Tob B 89* 88'a R9*a 88', Oen C-.car ... 39 I:g A- Mvera B' 94a 94*. Lorrillard . 21', 21*. Rea mid* Tob B 49* 49', 49* 49’. Equipment*— Alin? Chalmers 18* 18 Am Car A Fdr ... ... Am loro . .. ... 25', 26 Am Mach A Fdv . . . 17', Am Steel Fdv .. 19*. 19*, Bald Loco . ll'a ll'a 11*. ll'a Burroughs . . . 15*. 15 1 , Case .1 1 70'- 4 70 7<". 68-, O'er Tract ... 21*. 21 Co.gat Palm Pee: .... 16 Congoteum ... ... 21', 21*, Elec Slot Bat 42’, Foster Wheeler ... . .. 16', 15', Oen Am Tk Car . 35 34*, Gen E.ec 23'. 23', 23’, 23', Gen R R S:g 37* Jnrsol R.tnd 62 Inf Bus Mach 150 149', 15* 149 Ir.: Harvester 36* 34', 36', 34'.. KeMnator . 10', IPS. Netl Cash Reg . 17', 17', 1", 17*. Proc A Gamble. .. ... 39', 39 Pullman Inc ... . 47 46’, S'mmons Bed 24*, 24'* 2’, 23’a Wes* Air B 27 26 Wo'lnsh Elec 42'* 42 42'*. 41', Worthtng’n pmp 25', Utilitles— Am A For Pwr 12 11’* 12 11 Am Power A Lit 12’, ’.2%. A T A T , 137 123'. 127 124'. Am Wat Wks 2**, Brook Un Gas .... ... Cos! Gas A Elec 19*. 19*, Ccm A Sou .... . 3', 3' , Consol Gas 81 50', 51 49*, Elec Pr A Ltt 9'. 9'. Int TA T 13‘, 14’. Nat Pwr A U? 13 North Amer 23 34'. pac O* E 25’, 26 Pub Serv N 3• • ••• 44', 44'. So C*t Edison 22’, 22', Std Gas 15*. 14*, , Std Gas rfd .. 16', 16'. 16 1 , 16' I United Corp 9'. 9', fn Gas Imp 19', 19’, u* rT A Lit A 4'. 4 *, Western Union f2’ 62', 62’, 61*, Rubber,— F -estone 26', 24’. 2* \ 24', Goodrich . 16V 16', 16*. 14*. Goodyear 38*, 3*', 3', 38 U S Rubber 19 18’* 18’* 18 U s Rubber pfd 32V 11*. 32*. 31 Kei Spring 4', 4'. t news Tne 28', 27* 28', 2". p.d’o Corn *', "* Warner Bros • s ■** . • Food*— Am Sugar 57', Armour t s*. 6', Beatrice Crean. .. 19 Border, Prod... J2’a 32*. 32’. 32*.

Cal Packing ... 27 264 Cana Drv G Ale .. ... 30 4 30 Oca Cola ... 96 Cont Bak A . . 114 Coin Piod 814 814 814 804 Crm of Wheat .. .. 31 4 304 Gen Foods ... 36 354 Gold Dust . ... 214 214 214 214 O W Sugar 32 4 32 4 32 4 32 Hershev ... ... 58 Natl Biscuit . 544 544 544 54 Natl I) Prod . 204 204 204 20 Puritv Bak . ... 184 S Porto Rtco Sue 384 374 38 38 Std Brands ... 27 4 27 27 4 264 United Fruit ... 56\ 56’, Wrlglev . .... ... ... 49 Retail Store*— A*s Drv Goods . .. ... .. 14’, Gimbeh Bros ...... ... 4’, Or Un Tea ... ... 6', 6*, Hahn Dept Sts.. .. ... 6 6 K; csge S S .12 114 114 12 Kroger Groc 27 26’, Mai R H 514 Mav Dept 8t . .. ... 25’, Mont Ward . 22 4 214 22 21", Ponnv J C ... 42 4 41 4 Safeway St ... .. ... 51 Sears Roebuck.. 37 36’, 37 364 Aviation— Aviation Corp .. .. ... 114 11 Douglass Air ... ... 14’, 144 Curtiss Wright.. 3’, 34 3 s , 34 Curtiss tVr A ... 6’, 64 Nor Amer Av 6’, 64 64 64 United Aircraft 34 4 34 34 4 33 4 Chemical*— Air Reduction.. ... 97’, 97 Allied Chem 125 1224 124 1224 Am Com Alcohol 494 484 49’, 47’, Col Carbon .. 56 544 Com Solvents .. 34 4 34 4 34 4 354 Dupont 74 4 72’, 744 72’, Freeport Tex .. 394 394 . 384 39 Liquid Carb ... ... ... 33’, 334 Math Alkali 33'j Tex Gulf Sulph. . .. 28 28 Union Carbide . 444 44 44 454 U S Indus Alco. 66 65 4 65’, 64 4 Nat Distil 914 904 90’. 89 Drug*— Drue Inc 474 Lambert ... . 31 1 2 Lohn A- Fink 20'. 20‘, Zoiiite Prod ... ... s’, l inane.al— Adams Exp ... 94 9', Allegheny Corp.. s’, s’, S’, 5 f nrsn Corp .. 44’, 44’, 44’, 44 Transamerica .... ... 7 6’, Tr Conti Corp ... ... 6 Building— Am Radiator ... ... 154 Gen Asphalt .. . 194 194 194 IR’ Int Cement . . .. 32 31 Johns Manvlile 474 464 474 464 Libbv Owens Gl.v 28 274 28 274 On* F.lev 17 174 Miscellaneous— Am Bank Note . .. 20 4 20 4 Amer Can 87 4 36 4 86 4 86 Anchor Cap 254 Brkivn Man Tr 32 32 Conti Can ... ... 60', Eastman Kodak.. .. . . 77 76 Owens Bottle .. 79', 79 79 4 79 Gillette .. 13 4 15’, (Hidden . 154 15 Gotham Silk .. 11 10’, 11 10’, Indus Ravon . 67’, 67 67’, 654 Inter Rapid Tr . . ... 6’, Real Silk Hose . 13 12’, 13 12’,

Investment Trust Shares

.Bv Abott. Hopp:n Ar Cos.) —Aug. 8— Bid Ask. Amer Bank Stocks Coro 1 20 1 33 Amer A- Gen Sec A 5 50 6 50 Basic Industry- shares.. 3 25 3 25 British Tvpc Inv Tr sh.. 72 80 Collateral Trustee shares A ' 450 487 Corporate Trust shares (old l .. 2 31 2 35 Corporate Trust .-hares mewl. 2 25 2 29 Cumulative Trus- shares . 398 405 Diversified Trust shares A".. 625 D ■ -rsiflcd Trust shares B 7RO 795 Divers 1 fled Trust shares "C" .. 311 316 Diversified Trust shares 'D" .. 505 520 F.rs- Insurance S’ock Corn . 166 1 R 4 First Common Stork Corn . t 11 122 Fixed Trust Oil shares A'. 845 I.xcd Trust Oil shares • B" 7 35 Fundamental Trust shares A" 417 427 Fundamental Trust shares • B" 3 os 4 06 Investors Inc .... 17 25 17 62 ed share* S(A 5 90 M •-* It-.-. s Trust shares .18 50 20 20 Ni ton Wide Securities 3 48 3 58 North Amer Trust share .1953. ’. so North Am True shares • 55-36' 2 40 2 45 Petroleum Trust shares A 11 00 14 00 Selected American shares .... 2 70 Selected Cumulative shares. . 685 725 S'.ect'-d Income shares .3 62 400 S'd Amer Trust shares 302 308 Super Amer Trust shares A ' 300 Trust Shares of America .. 297 305 Trustee Std Oil "A" 4'o 4 85 Trustee S'd Oil *B". ..4 10 4 20 U S Elec l .rht A- Pow A 14 63 15 00 Universal Trust share* 287 2.90

New York Curb ißv Abbott. Hopptn & —Aug. 8— Close Close. .Vum Cos of Am 72 Nnt! Ptrol . I*', Am Pwr&L: B 3'iLake Shore Min 41* Am Cvan B 12- 4 Lone Star Oas. 9* Am Gas fit El 33 . Mount Prod .. 5 An: Bun Pwr .5 N’.vtl Bel’.as Hes* 2’ Ark Nt! Pwr A 2 Niag Hud Pwr. 9’ 4 Ass Gin A . I‘ 2 Pan Am Airway* 51 Atlas Ut Crr . 14', Parker Rstprf.. 50 Braz Tr A’ L’ . 13'. Prnnroad 3* Cent S’* E! 2’* Pioneer Old Min 115. Cities Scr* ... 3'i St Regis Paper . 5 Can Marconi .. 2* 4 Std Oil of Ind.. 28'.- I Commit Edison 64 Std Oil of Kv .. 16' 1 Cord ... 10’ Translux 2'j 1 F; Br.d St Sh... 24', United Founders I* 4 Ford of Er.s s' United Gas 4' Ford Mot Can 13, Un Lt Sc Pwr A 55 Hudson Bv Mm 9*. United Verde .. 4 Irving Atrehute 5’ 4 Wrt Hargraves . 6’ NEW YORK COEFEE FUTURES ~ a r?o*“ ! High. Low Close March 6 14 6 09 6 09 Mav 6.20 15 6 15 1 July 6 18 September ... 5 78 December ... 6 00 SANTOS March .8 30 8 23 8 23 Mav g 30 8 28 8 28 July 8 37 8 32 8 33 September 7 95 December tl! 8 15 8 15 CHICAGO I Rt IT MARKET BY l MTED PRES-* CHICAGO. Aug 9 Fruit and vegetables Apple* Michigan D,.chess, bushels. 60,:*, $1 15 lillnoi- Wealthier bushel $1 15 •-5 B: .rheme- Michigan $2 25-, 3. Pe.,r* Michigan $1 50 Canteloupf*-In- ! d.ana 40 , 75r ft*’* 20 , 40c; Illinois. 40 t 6V fiat* 251,50 c Michigan. 50c*,51.25. Carre* Illinois. 2c Eggplant— , Illinois $1 251 50 Spinach Uiinoi*. 75c bo\e> 30 ,4 c Cucumber* Michigan. 50 - 75- rilinot* 25., 50c, Beans Illinois and Michigan. $1 125 B-et* Illinois ',c Cabbage Uiinoi* $1 50 ,2 25 celeryMichigan. 3S*isoc flat*. 50 •, 75c squares 90c , slls Pepper* riltnois ?5e4,51.2S Corn-IlUnotv 40-,'65c Peache*-Illinois 2*,2 SO Tomatoes Illinois, 25 , 75c. Michigan 2575 c Onion market California vfHow*. bushel. $1 10*i 1 25; white*, bushel. $1504, 1.,5. Illinois, yellow* bushel 80h90c lona yellows, bushel 80 a JOc.

SWINE DISPLAY UNEVEN TREND AT CITY YARDS Slaughter Classes Fairly Active in Cattle Markets. Hogs were slightly irregular this morning at the Union stockyards, prices of 160 pounds up ranging 5 to 10 cents lower with underweights steady at Tuesday’s levels. Weights of 160 to 235 pounds brought $4 50 to $4.55, a few held up to $4.60; 235 to 275 pounds, $4.35 to S4 45; 275-350 pounds. $4 to $4.25; 140 to 160 pounds. $3.75 to $4. Packing sows brought $3 to $3.50. Receipts were estimated at 6.500. Holdovers were 287. Slaughter classes were fairly active and steady in the cattle market. Choice steers were held at $7. others from $6 50 down. A few heifers made the market at $6, the bulk selling for $4 25 to $5.50. Cows brought $2 50 to $3.50. Receipts were 1.100. Vealers were 50 cents higher at $6.50 down. Calf receipts were 600. Sheep were strong to higher, ewes and wethers selling for $7.50 to SB. Top price was $8 25. Bucks brought a dollar less. Culls and throwouts sold for $3.50 to $6. Receipts were 2.500. Early bids on hogs at Chicago were strong with Tuesday's average. Good to choice 200 to 230-pounders were bid in at $4 45 to $4.50. Receipts were 17.000. including 6.000 direct. Holdovers were 5.000. Cattle receipts were 9,000; calves. 2.000; market steady. Sheep were unchanged with receipts of 10.000, HOGS Aug. Balk. Top. Receipt*. 2 $4 55 '■> 465 $4 65 5.500 3.4.45 V 4 55 4 60 7.000 4 4 45 -7 4 55 4 60 7.000 5. 4.50 if 4 55 4 55 1.500 7. 4.40 a 4 45 4 50 7.000 8. 4 55; 4 60 4 65 5.000 9. 4.50 V 455 4 60 0.500 Market, lower. 140-160) Good and choice ...$ 3.751$ 4.00 —Light Weights—--1160-1301 Good and ehoic--... 450 (180-200i Goo dand choice 4 50 —Medium Weights—-■2oo-2201 Good and choice... 455 '220-250i Good and choice... 4.4542 455 —Heavy Weights—--250-2901 Good and choice.. 4 25® 435 (290-350i Good and choice ... 4.00 V. 4.25 —Packing Sows—(3so down 1 Good 325 V 3.50 ■350 upi Good 3.10 V 3.40 • All weights 1 medium . ... 300 u 325 —Slaughter Pig*— (100-130) Good and choice 2.60® 3.10 CATTI.E Receipt*. 1,100; market, steady. ( i 050-1,1001 Good and choice $ 5.75® 7.25 Common and medium 4 25v 5.75 (1.100-1.5001-Good and choice 5.75® 7.25 Common and medium 4.50 V 5 50 s(sso-7501 Good and choice 5 00® 600 Common and medium 325 V 5.00 (750-900' Good and choice 4 50® 6 00 Common and medium 3 00# 4 50 —Cow*— Good 3 25 3 4 00 Common and medium 2.50 V 325 Low cutter and medium 1 50V 2.50 —Bulls 1 yearlings excluded 1--Ctood (beef 1 3 00® 350 Cutter, common and medium.. 2.00® 3.00 VEALERS Receipt*. 600: market, hieher. Good and choice $ 6 oov 6 50 Medium 4.00 600 Cull and common 3.50 u 4.00 —Calves—-.2so-5001 Good and choice 4 00® 500 Common and medium .... 200 a- 400 —Feeder and Stocker Cattle—--1500-800 > Good and choice 450 3 5.75 Common and medium 3 00® 4.50 (800-1 500. Good and choice 4 50® 5.75 Common and medium 3.00 V 4.50 SHEEP AND 1.A318S Receipt*. 2.500: market, higher. —Lambs. Shorn Basis—>9o lbs down 1 Good and choice. $7 00V 8 25 .90 lbs down, com and med. 300 7.00 —Ewes— Good and choice 2 OOV 300 Common and medium 1.00 a 2.00

Other Livestock BV I NITKH PRESS CHICAGO Aug. 9 Hogs Receipts. 17.000, including ii.ooo direct; active, gen. I erallv 10'</ Isc Higher than Tuesday; 200- | 250 lbs., $4 50*1, 4 60; top. $4 60. 260-350 !ms., $3 85*14 50: 140-190 lbs. $3.75514.55. 1 pigs. S3 25 down most packing sows. A.l 35'.,3.70: light lights, 160-200 lbs . good | and choicr. $4 10*, 4 60; medium weights. ,200-250 lbs. good and choice. $4 55**, 4 60: • heavy weights. 250-350 lbs . good and .choice. $.3.85', 4 50: packing sows. 275-550 i !bs.. good and choice. $3.1041.3.85: slaughter pigs. 100-180 lbs., good and choice. | $2.75*i 3.60. Cattle Receipts. 9.000; calves , receipts. 2.000; fed steers and yearlings, strong to 15c higher, especially bn better grades: general market more active but not much change on common and medium ! grade steers selling at S5 50 down; shippers and lnral demi.nd broader for all . Killing classes: strictly choice weighty j leers, $7 40. .several loads. $6 75*, 7.10; best light heifers. $6 25; she stock a littie : more active but bulls weak and vealers about 25c lower; slaughter cattle and vealers: steers 550-900 lbs,, good and 1 hoice. $5 50*, 7 ; 900-1100 lbs. good and choice. $5 50*,7 25; 1100-1300 lbs., good and choice, $5.50*, 7 40: 1300-1500 lbs. good and choice $5 50*, 7 50. 550-1300 lbs., common and medium. s3*, 5.50; heifers. 550-750 lbs . good and choice. $4 75*, 6 50; common and medium. $2 IS*, 4 75: cows, good. $3 50*, 4 75: common and medium. $2 504,3 50; low cutter and cutter. Sl.so*i 250 bulls, \earlings excluded, good, beef, $3.25*; 4. cutter, common and medium. $2.25*, 350 vealers. good and choice. s6*, 7. medium. $5, 6. cull and common. $3 50*, 5; stocker and leeder rattle, stefrs. 500-1050 lbs. good and choice. $4.504,5.50; common and medium. S3*: 4 50 Sheep—Receipts. 10 non slaughter lambs, active at Tuesday's full advance: some sellers asking higher, natives to ail Interests at sF'<B 25. lop westerns held toward $8 50: native throwouta, $4 25',5: slaughter sheep and lambs lambs. 90 lbs. down, good and choice. $7 ~ 8 50. common and medium. $4 25',7 25; ewes. 90-150 lbs. good and choicr. $1.25*,3. ail weights, common and medium. sl*,2. EAST ST LOUIS. 11l . Aug. 9 -Hogs— Receipts. 9 000. ir.arke'. 10*,20r. mostly 15c higher than Tuesday's average, pigs and light lights. 15 :25c higher; sow*. 10 *u Isc up: top. $4.55 some held higher; better. 170-260 tbs.. $4 50,4 55 140-160 lbs. $3 75 ,4 30 100-tlO lb*, pigs $2 50*, 3 50; sow s mostly $3 15*, 340. Cattle- Receipts 2 500; calves. 1.500; market, steers in light supply: quality Imlow the average a few deals in small lots steady: vealers 25c lower wuth top. $6. other classes s'eadi : a few s’eers. $4 35 9 5.50 heifers. $4 •, 6 all small Jo's, cows were $2.25v3. low cutters. $125;150. top sausage bulls. $2 85 slaughter s’eers. 550-1.100 lbs . good Rnd choice. <5 50*, 675 common and medium. $3 2 s*, 3 50. 1 100-1.500 lbs . choice. $6 50*1 6*5. good. $5 504, 6 50: medium $4 25*', 550 Sheep Receipts 2.500 marke’. a few choice lambs to city butchers strong to 25c higher at $7.75*;8. asking higher on others with indications steady on throwouts and sheep: lambs. 90 lbs down, good and choice. $6 75**7 8: common and medium. $3 50*i6 7.5. yearling wethers 90-110 lbs good and choice $4 ,5 25. ewes 90-150 ib< good and choice slso*, 2 *5: all weights, common and medium sl9 2 CLEVELAND. Aug 9 —Cattle-Receipt*. 300. iar<fl. slow but nearly steady; some good stock bringing higher prices, but showing weaker undertone rhcuce 7591 :<v> lbs s'eers $6 50 , 7 25; cotton to good heifers. 600-1 pno ibs ranging from $3 75 62* cows and bulls, unchanged. Calves Receipts 400: market active and eood with great demand in evidenc*. choice to r>r:rrr s7*,B: common $150.4 Sheep— Receipts 1 000: market good and prices strong to firm: all sold earlv with demand for more: choice wethers $2 50',3 25 choic* ewes handv weights s2*, 3 Hogs—Receipts. I 100: market active and strong with pnees 10 15c higher heat :< $4 90 choice porkers 150-180 lbs $4 65*, 4*o thin ar.d common hogs 100 '.h* up $4 5 stags. $2 2 25. rough, sows. $3,13 25: p;gs $3 * 3 25 FT WAYNT Aug 9 - H"gs S’esdv 200250 ;b.* $4 *5 250-300 lbs $4 35; 170-200 !bs $4 45 300-350 lbs $4.10: '.60-270 lbs $4 36 150-160 lbs $495 149-150 lbs . $3 80. ’..70-140 lbs $3 55: 190-130 lbs. $3 roughs $3 25 stags 2. Calves. S6: lambs. $7.50 Cattle Steady unchanged. f!u Timit .speri'qj LOUISVILLE Aug 9--Cattle Receipts -90 including 78 direct salable supply hah’ market active. fully steady to strong hulk better grass steers and heifers. $4 25 ~ 4 75. fe<* kinds eligible. ss*, 6 or better bulk beef cows 12 25*, 2 75: h cutters >r.d cu’ter cow s $125 ,2 sausage bulls. $3 down: bulk na'ive stockers. $4 down light western* eligible around $5 Calve* Reremts 350 strong to 50c higher better 'ea!er< $4 50*, 5 strictly choice har.dvwnghts ehg:b> higher medium and lower grades $4 down; discount on heavy prass calves Hogs- Rece,pts 1100 market 5c lower 185-250 lbs $4 60 250 ibs up *4 15 140-185 lbs . $3 75: 140 lbs down. * 2 ,£5 ' 12 * s * ,R ** $1 80: sheep 1 500 aualitv plain lambs mostly steady, hulk bet’er kinds $7 25 ~ 750 few choice eligible $7 75. or be’ter: bucks $6 25*,6 75 immature ’:gh* lambs $3., 4 fa! ewes $1 <<2 bu'k better stock ewes $6 •7 50 Receipts Tuesday: Cattle. Ill: caßes. 290. hogs. 642 sheep. 1.016. Shipments Tuesday Calves. 28$, hogr. 303. sheep. 956. V

THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bids or offerings, but merelv indtra’e the approximate market leve. based on buying and selling inquiries or recent transaction* —Aug. 9 Bid. Ask. Belt Ball a- S*ock Yard*, com 28 59 Cent Ind P*r pfd 7". 11 14 Cent Ir.d Par pfd 7"l 10 13 Citizens Gas com 14 Citizens Gas Cos pfd 5V 63 6^ Citizens Gas com ....... 14 L Citizenr Gas Cos pfd 5T> .63 6. H"me T * T P was ne pfd 7 4 36 49 Ind A- Mich Elec Cos pfd 7~-.. 70 74 Ind Ger. Service Cos pfd t%... 55 69 Ind Hvdro Elec Cos 7". 25 29 Indp! Gas Cos com 40 44 Indpis Par A- I.t pfd 60 61 65 Ir.dpls Par A Lt pfd 6 i a"... 65 69 .No Ind Pub Serv Cos pfd . 34 33 No Ind Pub Serv Cos pfd 54". 33 37 No Ind Pub Serv Cos pfd 7 .. 37 41 Indpis Water Cos pfd 5". ...... 89 93 Ir.i Puo Serv Cos 6'- 35 a 394 Public Serv Cos of Ind pfd 6", 14 17 Public Serv Cos of Ind pfd 7' .. 36 40 South Ind Gas AEI pfd B'V.. 58 62 Terre Haute Elec pfd 6 - .... 34 38 BONDS Belt R R A- S'kvd 4; 1939 .. 88 92 Citizens Gas Cos 5s 1942 84 , 88 Home TAW s'.s 1955 96 100 Home T At T W 6s 1943 ... 98 102 Indpis Gas Cos 5s 1952 7! 74 Indpis Rvs Inc 1967 29 32 Indplx Water Cos 44s 1940.. 98‘a 1004 Indpis Water Cos 5s i960 93 97 Indpis Water Cos 5* 1970 .. 92 : a 96' j Indpis Water Cos 54s 1953 .100 103 Indpis Water Cos 54* 1954 .. 100 103 Kokomo Wat Works 5s 1958 79 83 Lafavette Tel Cos 5s 1957 . ... 83 87 M’incie Water Works 5s 1939 92'a 96 , Richmond Water Works. 1957. 844 88 Terre Haute Wat, Wk 5s 1956 . 84'3 88 Terre Haute Wat Wk 6* 1946 934 974 Traction Terminal Cos 5s 1957 45 49

Chicago Stocks "By Hoppln 81 Cos.

—Aug. 8— TOTAL SALES. 34.000 SHARES High. Lew. Close. Allied Products . ■ lO'a Asbestos Mfg 3 • 3*- 3 Assoc Telephone Util... .. . . ' Bendix Aviation 16 15S 16 Borg Warner . • j? E L Bruce Cos 21 204 21 Butler Bros , ••• Berghofl 144 134 14 Cent HI Securities pld <' Cent Pub Util Cent A- So West 3 Cent A- So West pfd JJ Chi A- North Western.. . ... 10 z Chicago Corp com .... 34 3 34 Chicago Yellow Cab ... . ... 12 Clttes Service 34 34 Dexter Cos 6N 64 6 * Elec*ric House hold .... 10 94 lO Oodchaux ‘ B" 9 8 9 Goldblatt Bros.. 21 294 21 Great Lakes Aircraft.. 1 ’* 1 Great. Lakes Dredge.... IS 14'* 15 Greyhound Corp * „r* * Grtgsbv-Grunow 2S 24 f Houdaille-Hershev A .. • •• JJ Kaiamazoo Stove 24 22 3 23 Kellogg Switch com * Kentkv Ut Jr Cum pfd J 9 t * Kevstone Steel ’ 1 ibhv-MrNeil *.-4 ,5,. Marshall Field 134 *3 13’* Middle West Utilities.. '3 4 4 Midland United pfd . ‘ • Midland Utilities 74 pf * National Leather * National Standard ... .. ... lg Northwest Bancorpora. .• 7 5 ■ * Public Service N P 34'z t 4 34 3 Quaker Oats 135 i-4 134 Reliance Mfg Cos 14 Seaboard Utilities Shares * Sears Roebuck ■ Swift A- Cos J' J'!z J Swift Infernaciinal . 24 23’* 234 Uinted Printers A P pfd 24 U S Radio A- Te! IJ'i Utah Radio , },* Utility A Ind Wahl ,J • Walgreen Cos. com 1‘ Wieboldt Stores > 1 Zenith Radio 24

Foreign Exchange

(Bv Abbott. Hoppln Ac Cos.) —Aug. 8— Close. Sterling England $4 48’, Franc. France 0513’3 Lira. Italy 07134 Bclgas. Belgium .. 1895 Mark. Germany 3230 Guilder. Holland • 5475 Peseta. Spain 1130 Krone Norway 2250 Krone. Denmark 1995

Daily Price Index

BH United Prrjtn NEW YORK. Aug B—Dun At Bradstreets daily weighted price index of thirty- basic commodities, compiled lor the United Press (1930-1932 average. 100) Today 103.80 Monday 103 58 Week ago 103 79 Month ago 105.34 Year ago 79 78 1933 high (July- 181 113 52 1933 low (Jan. 20( 67 86 (Copyright. 1933. Dun A- Bradstreet. Inc.i

In the Cotton Markets

CHICAGO —Aug. 8— High. Low. Close. January 10.40 9 87 in 08 March 10 54 10 08 10 23 Mav 10 70 1030 1039 October 10.17 9,55 10.80 December 10 39 7.79 10.00 NEW YORK January in,sl 10 27 10.28 March 10 69 10 41 10 43 Mav 10 85 10.58 10.59 Julv 10.90 10.77 10.77 October 10.25 9 99 10 0O December 10 47 10.20 10.23 NEW ORLEANS January 10 41 10.20 10.25 March 10 56 10 38 10 38 Mav 10.77 10 57 10.57 Julv 10 75 10 72 10.72 October 10.17 9.92 9 97 December 10.40 10 13 10.19

Produce Markets

Delivered In Indianapolis prices: Hens, heavy breeds over 4'- lbs.. 10c: Leghorns. 7c. Broilers: Colored springers. I' 2 lbs. up. 12c: springers l'j lbs. up. 9c: barcbacks. 6c: cocks and stags. 6c; Leghorn cocks and Leghorn stags. Sc. Ducks, large white, fuii leatnereo and fat. over 4 lbs. 4c: small and colored. Sc. Geese, full feathered and fat. 3c. Young guineas. 20c; old guineas. 15c. Eggs—No. 1 fresh country run eggs. 11c. Each full eee esse must weigh 55 Ibs. gross: a deduction of 10c per lb. for each lb. under 55 lbs gross will be made Butter—No. 1. 25'a2fic: No. 2. 23 *, 24c. Butterfat—lßc. Quoted by the Wadiey Company. By United Press CHICAGO. Aug 9. Eggs Market, steady; prices'' 4 to 'ic higher: receipt.*. 6 425 cases, extra firsts 13*tl3'c; firsts 12'j!/13c; current rcreipts, ll*tlP 4 c; dirties 9'ac. Butter—Market, steady; prices unchanged to 6c higher: receipts. 11 672 tubs: specials. 2O*i2o'jc. extras lS'jcc: extra firsts. 18'*1 19c; firsts. 17' 2 *, 18r seconds. 16'a*, 17c standards. 19' : c Poultry Market, steady. receipts. 51 trucks: fowl*. 10* 2 ?, 12r. Leghorn broilers lO'.c: Leghorns. 8c duck*. 7*,9' 2 c: geese. 7*; 8c turkey*. 10*, Ur. roosters. 7c: broilers. 11*, 15c. Cheese Twins. 13', 13' 2 e Longhorns 13 1 s*i 14c. Potatoes—On track. 161: arrivals. 29: shipments. 355; market, weak New Jersey sacked Cobbler* <2 80. Idaho sacked triumphs $2 90'„3: Nebraska sacked Cobbler* S2 70: Missouri sacked cobblers S2 55<&2 60 Other Livestock BY UNITED PRESS PITTSBURGH. Aug. 9.—Cattle—Receipts. 10; market steady Hogs—Receipts. 900: holdovers. 150 market, steady to higher; prime heavies. 240-300 lbs . s4*, 4 50. heavy mixed, 210-240 lbs. $4 75*, a 10. mediums 180-210 ib? ss*, 5.10; heavy inkers. $4 75 5 15. light vorker* 12014S lbs $3,5 4. pigs. 90-115 ibs® s3*; 3*5; roughs. $3-, 3.50 Sheep and lambs Receipts 800: market, steady, lambs, good to choice. 90 lbs down. $8*„8 35 medium. 90 lbs. down. s3'*, 5; medium. 91 £s. up_ $5 50*, 650 sheep wethers, prime. $. 50*, 3. fair to good. $1 75*; 2 25; ewes, medium to choice sl*, 3 50. Calves—Receipts. 50: market stradv, vealers. good, $5 50* .-6 medium. 44 50*, 5, heavy and thm. S2 50 „ 3 50. EAST BUFFALO Aug. 9 —On sale. 1 300: actUe 5 to 10c higher: 225-lb. weights and up. showing the most strength, good 1.0-225 lbs. grades $4 80*, 490 230 lb* and up. $4 85 down; 100-160 lbs $3 75'■ 4 50. packing sows. $3 25*, 3 75. CattleReceipts. 250: steer* and heifer trade verv slow at Monday’s decline, not much trading up to 11 a. m Cows and bulls stead* Calves—Receipts. 150: active strong to 50c higher, good to choice $7 *: 7 50: medium. $6*,,6.50. cull* ar.d common *4 ,3 60 Sheep—ReC'-ipts. 800: demand broad, market active, strong to 25c higher: good to choice ewes ar.d wethers. $8 -6 25 some held higher: medium and common mixed grades. $6 50: most cull grades down from S6 sheep, steady, good to choice ew e*. $1 50*, 2 50. LAFAYETTE Aug. Hog market, steady to 10c lower 200-250 lbs *4 30 , 440 250-325 lbs. s4**4 30 170-200 lbs, $4 30; 140-170 ibs $3 50*, 3 75: 100-140 ios . $2.25*i3.25: roughs. $3 down: top calves, $5. too lambs. $7. Stpal McNutt’s Walk; Fined R|/ l nitrd Prrtt VALPARAISO. Ind.. Aug. 9. Fines of $1 and costs were imposed upon Georpe Plutko and Matthew W’lak. Whiting youths, when they pleaded guilty here to theft of a portion of a boardwalk from Governor Paul V. McNutt’s summer home at Dunes state park. The wood was used to build a beach fire, they said. f

STOCK VALUES SHOW GAIN IN BRISKJTRADING Auto Group Features on Bullish Production, Sales Reports.

Avsrage Stock Prices

Average of thirtv industrials Tuesdav High 96 10 low 93 16 last 95 84. up 336 average of twenty rails 48 02 46 53. 47.91. up 0.91 average of twenty- utilities. 30 97 30 18. 30 66 up 0 69. average of fortv bonds. 88 03. up 0.10 BY ELMER C. WAI.ZER United Press Financial Editor NEW YORK Aug. 9.—Volume increased on the Stock Exchange today as prices moved higher on an easier dollar. Cotton ruled steady, unchanged to 4 points off. Automobile issues were the features on high production and sales. I General Motors, which reported the largest July since 1929 late Tuesday, opened 10.000 shares at 30up ft later rase to 31. Chrysler rose to 33up x t, while Auburn rose l‘j to 574. Steel operations held steady according to the Iron Age, while electricity output for the week ended Aug. 5 registered a gain of 15.6 per cent over the corresponding week of 1932, against a percentage comparison of 15.4 in the preceding week. The first sale of United States Steel common stock was made at 544. up l l * from the previous close. It ruled steady at that level in the early dealings. Bethlehem made a small gain to 40 H. American Telephone opened at 1254, up % and then rose to 127. Utilities generally were steady. Copper shares were up small amounts as copper producers gathered In Washington to compose certain divergent views on points in their code.

Bank Clearings

INDIANAPOLIS STATEMENT —Aug. 9 Clearings $1,267.000 00 Debits 3.775.000.00 TREASURY STATEMENT Aug. 9 Net balance for Aug. 7... S7BB 689 646 61 Int. Rev. Rocts. lor dav ... 7.704.816 52 Customs rects. mo. to date.. 6 707.417.03 New York Bank Stocks -- Atm. 8— (By Abbott. Hoppln & Cos 1 , Bid. Ask Bankers 64’, 654 Brooklyn Trust 116 120 Central Hanover 1424 144 Chase National 28’, 294 Chemical .38 .184 National Citv 33 33’, Corn Exchange 56 57 Continental 15’, 15’, Empire 20’ t 21 Guaranty 330 331 Irving 20 20 4 Manhatten A- Cos 29’, 304 Manufacturers 174 18 New York Trust 99 100 Public 34’, 354

Bright Spots

Bt United Pres* General Motors Corporation reports July sales of 106.918 units, compared with 36.872 units in July last year. American Telephone and Telegraph Company earns June operating income of $1,526,403, against *43,240 in June, 1932. J. J. Newberry Company reports July sales of $2,934,584. up 14.5 per cent from July last year. Best & Cos. reports net profits for six months ended July 31 of $180,694, against 510.545 in corresponding 1932 period. Pacific Mills reports first half net profit of $477,486, compared with a net loss of $2,645,907 in like 1932 period. Northern Pacific Railroad reports June net income of $13,237, against net loss of $1,003,796 in June last year. 3 FACE DOPE CHARGES Men Accused of Possession of Narcotic Drugs. Three men were under arrest today. charged by police with illegal possession of narcotic drugs. Those held are Joe Consadas, Pete Martin and Nick Andas, all of 328 Toledo street.

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-Todav and Tomorrow w

In a Movement to ‘Reflate,’ Prices Should Rise in the Proportion They Have Fallen. BY WALTER LIPPMANN

IN it* present phase, in the movement to have the blanket code adopted, the NRA is primarily a campaign to reverse that deflation of industrial pay rolls which, under the competitive pressure of excess labor and excess plant, had become uncontrollable by the individual action of employers and employes. The method of the blanket cod? us. by the pressure of public opinion, to fix minimum wages and maximum

hours under a general rule and then. r.s quickly as possible, to taJc? one industry after another out from under the general rule and then, as quickly as possible, to take one industry after another out from under the general rule and to put It under a special code of its own. A campaign carried on by a rousing mass opinion inevitably is centered on simple and crude ideas That is how such campaigns enlist emotion and generate power, and that is why such campaigns so easily get out of hand and become fanatical, as Mr. Santayana once said, by redoubling their efforts when they have forgotten their aim. In the case of the NRA the aim proposed to the people is the simple one of reducing hours, employing more men and of raising the lower wages. It is a desirable and understandable object. But the object will not be attained if the movement to increase pay rolls is accompanied by an im-

mediate and equivalent rise m prices. The President and Genetal Johnson have recognized this fact. The blanket code, in a somewhat vague and academic fashion, recognizes it. But in the actual administration of the NRA. and above all in the propaganda now being set going, the vitally necessary idea cf controlling prices receives little emphasis and—is rather lost to sight. I , flrroiin* nf rnrr> mr\Hlll n*•

Yet to make any kind of reasonable success of the movement, the public must keep its attention fixed simultaneously and with equal interest and emphasis on the quotations of prices and on pay rolls. To fix public opinion upon the control of prices it is necessary that there should be some fairly trustworthy measure of how prices ought to behave. The blanket code provides a measure for wages and hours. It declares in some detail what the minimum should be for wages and the maximum for hours. But in respect to prices it has not yet declared any standard by which the public can judge their, movement. Is it possible to set up such a standard? In any exact and detailed and absolute sense the answer Is that we know too little to fix prices by public opinion. But In a general sense, accompanying the fact that we are dealing broadly and crudely with things at large, a rough standard of public judgment can be set up. We can say. I think, that in a movement to •‘reflate," prices should rise in the proportion that they have fallen, that those which have fallen most should rise the mast, and those which have fallen least should rise the least. a a a IF we take this principle as our guide, our task is to measure the fall in prices of different kinds of goods. We then can see almost at a glance what kinds of goods are entitled to rise in rough proportion to other goods. A compilation of this sort covering the wholesale prices of 784 commodities up to June has just been made by the bureau of labor statistics under the direction of Commissioner Lubin. It provides a suitable though rough, map by which to determine where we were, where we are and where we ought to aim to go in the movement of prices. This report shows, for example, that between June. 1929, and February, 1933—that is to say, from the peak of prosperity to the pit of the depression—the price of farm products and goods fell 60.4 per cent, whereas all other commodities fell only 28.2 per cent. It is, therefore a clear conclusion that “recovery.” w-hich restores a true balance, would require farm prices to rise much faster than other prices. This is just what happened between February and June. By that time the fall of farm products had decreased, being 48.5 per cent of June, 1929, and other prices had decreased 25 per cent of June, 1929. The gap was closing and the closing of the gap was a sign of economic health. a a a BUT now, under NRA. a movement is under way to increase costs in other than farm commodities. Can we set up a rough standard of prices to determine which

|p

groups of commodities are entitled to rise faster than others? The following table gives a general idea of the order in which the procession ought to move, judged in the percentages which prices in June, 1933, had declined from June 1929: Dec. Pet. 1. Farm products 48 5 2. Foods 38.3 3. Textile products 31.7 4. Fuel and light materials .... 27 2 5. Hides and leather products.. 23.6 6. House furnishings 22.4 7. Metal and metal products ... 21 6 8. Building materials 21.5 If we base our opinions on this list we shall conclude that farm products, for example, ought either to rise more or that metal products and building materials ought to decline somewhat more. These prices still are badly out of balance. The list shows, too, that prices have been maintained relatively highest in those goods which arc least perishable. This means that the producers of the more perishable goods—that is. food and clothing—are not earning enough to build houses and equip them, or to buy machinery and tools in quantity at the prices prevailing. Now, it is no accident that the deepest unemployment and the worst of the industrial depression is in those industries which are at the lower end of the list. a a a THE NRa in its administration and in its propaganda should take account of the situation which these figures reveal. I have, of course, for lack of spare, given rough summaries, but the general relationshins are. I believe, as I have represented them. The broad conclusion to be draw n might be that under the NRA and the agricultural administration some rise in textile prices and in food is justified, that fuels and leather goods ought probably to be held stable, that the prices of metal products and building materia Ls ought probably to be reduced. The alternative to such a discriminating control of prices would in all probability be a general defeat of the NRA. followed by a spiral of vicious inflation. For unless the prices of goods at the lowpr end of the list, which go largely into capital equipment and durable goods, are kept from rising and in certain flagrant cases reduced, we shall be forced into a movement in which farm prices and industrial wages forever are chasing other prices and never catching up with them. (Copyright, 1933. bv The Times) Births Born Marion and Marjorie Byrum. Coleman hospital. Thomas and Martha Have*. Coleman Hospital. Marshall and El.zn Fowlkes. 2042 Hovrv Hov and Mary Brown 4344 Baltimore Last on and Ruth Dennis. Coieman hospital W tills and Ruth Johnson. Coleman hospital. Meredith and Caroline Mabe. Coleman hospital. William and Marcelline O Neill Coleman hospital. , Roy and Eacil Tucker. Coleman hospital. Eu:n and Bertie Morgan 547 Holly „ Girl* \essie and Hazel Davis. Coleman hosP '/! Robert and Geraldine Riggen. Coieman hospital. Maurice and Juani'a Young, 2035 North Dearborn George and Carolyn Farrow-. 1920 Woodlawn Paul and Una Farthing. 2325 Kenwood. W..lis and Rose Had. Coleman hospii*; Russell and Elizabeth Smith, Coleman hospital. Deaths James H. Stewart. 83. Christian hosni’al. broncho pneumonia. Samuel Albert nine months eitv hospital. marasmus. George Percy. 62 eitv hospital, burn*. Robert P Rowlett 77. St Vincent s hosnlta. broncho pneumonia Louis Nelson Mellon 62 823 Prospect carcinoma Victoria Crosslev. 34 Methodist hospital peritonitis. Gerdv Jack. 48 C 36 South Meridian, mi- ( tral stenosis Charlie Er-.in 40 Veteran s hospi'al pul- I monarv tuberculosis Adrian Dewitt Parslcv 31. 207 North Be.i..e chronic mvoeardiMs Eldndge Lear 59. Methodist hospi'al sarcoma Charles Glddens. 74 1055 Oliver chronic myocarditis. George Turner 56 ( 1324 North Wes' cirrhosis of liver Mar. Bell Price. 65 835 East Georgia carcinoma. Marriage Licenses Meredith E Van Winkle 20. of 1417 North Moun' stree- rierk. and Caroline A Olsen. 18. of 1426 North Tremont avenue, housework William Chilton 76. of Batesville. Ind salesman, and Maggie Lee Robertson. 24. of Batesville. Ind , housekeeper Gler.don L Stroud. 21. of 1602 Bellefon'aine s-ree- baker, and Edith Williams 18. of 1540 Beliefon'aine street John H Cher.owe’h, 29. Arcadi* Ind clerk and Estelle Marie Long 2! of 5230 East Washington street, apartment 12. housewife.

WORLD'S FAIR SPECIAL Sunday Morning, August 13th TO CHICAGO Lv. Indianapolis 7:15 A. M., Ar. Chicago 11:35 A. M. Returning. Lv. Chicago 7:30 P. M. Sunday. Aug. 13, arrive Indianapolis 11:45 P. M. CC C A Trip Individual TickcU 9 J U U Return Limit 9 Day*. C A A EACH Round Trip for 3 or more traveling V*JVV together. Return Limit 15 Days. 50c-fent souvenir tickets covering general admission to Fair Grounds and admittance to Old Fort Dearborn or Lama Temple mav be purchased at City Ticket Office. Specially Arranged All-Expense Tour of Several Days’ Duration. BIG FOUR ROUTE BIG FOl R STATION' adjoins the Exposition Grounds—Just a few minutes' walk to the main entrance. For full particulars call Big Four City Ticket Office, 112 Monument Place. RI ley 2442, or Union Station, RI ley 3355.

WHEAT SCORES GOOD ADVANCE | IN SLOW DEALS Trade Awaits Working Out of NRA Codes Before Taking Action. BY HAROLD E. RAINVTLLE l nilfd Trm Stiff Corre pondent CHICAGO. Aug. 9 —Wheat made a good fractional a ivance as the Board of Trade opened today Scattered buying revealed little pressure and prices were 4 to 4 cent higher. Firmness in stocks and higher cables as well as the talk of a "commodity dollar" were factors. The other grains followed wheat. Corn was 4 to \ cent higher. Oats j 4 to 4 cent higher Rye was 14 cents higher but rather slow. Barley made a \ cent advance from the minimum levels. Provisions were firmer. There is an underlying current of bullishness to the wheat marketOpinion is practically unanimous, however, that little action will be seen pending the working out of the NRA codes, their effect observed, and markpt restrictions removed. Crops are below domestic requirements Strength in cash wheat is encouraging Lack of an export demand weakens Winnipeg at times. Liverpool was strong and 4 to H cent higher at mid-afternoon. Corn has a good undertone notwithstanding the fair crop prospects. The government report due Thursday is being awaited with soma eagerness. Advices from the American and Canadian northwest confirm a short oats crop. Cash demand is active.

Walter Lippmann

Chicago Futures Range WHEAT— ~ AU * 9 ~ Prtv. Hizh. low lb do rlos*. Scptfmb?r ... 99’, iifi'i, 99>, 994 December ... 1 024 1 014 1024 101 Mac ... 106 4 1 054 1 06', 105 4 CORN - September ~ .SS’, .54 .44 .54 December ... 56 4 59 59 4 . 554 Mv 654 644 .644 .64 OATS September ... .40’, .404 .40', .40 December ... .41 4 .42 4 43 42 4 May 464 .46 46 .454 RYE September ... .74 4 .73 4 .73 4 . 73** December ... .80 78 4 .78 4 . 774 Mav 85 83 . 83 4 82 4 BARLEY— December ... 574 .574 .57’, .57 4 Mav 624 624 .624 .624 CHICAGO CASH GRAIN Jt}/ I'niteit i’rcs* CHICAGO. Auk R Cash erain close: Wheai No 1 hard. 8c No. 2 hard. 974* 974 r No 3 hard 96c No 2 mtexd 98® 97c No 3 mixed 95 4c Corn No 2 m.xed 53*i 54c. No 2 yellow 54 n 544 c; No. 3 yellow 53c No 6 yellow 50c. No. 2 w hile. 55'. 'u 56c: sample (trade. 50c. Oa's No 1 mixed 39 ’c; No 2 white. 39 •• 404 c. No 3 white J64'<fJß4c No. 4 white. 36 4"! 37c Rye No sales Barley 409,64. Timothy $4.25'a4 50. Clover—s94i 12 50. TOLEDO C ASH GRAIN —Aug. 8— /?(/ t'nilrrl /'rc, TOLEDO Aug 8 Oratn close Grain in delator* transit hilling Wheat—No. 2 red. 974'i984c. No. 1 red. I® 14c premium Corn No 2 vellow. 574*i58Wc. Oats No 2 w hite 43 '/44c Rve—No. 2. 7644/ 774 c Track price*. 284 c rate: Wheat No 1 red 934 ' 9Sc No 3 red. 924'<t9S4r Corn No. 2 vellow. 53i.44r: No > yellow 53653 c Oats No 2 whit*. 396421 No 3 37 ■/ 41c. Toledo seed close Clover- Cash. $8 50. October. $8.75. Alsike - Cash $8 75 August. $9. Toledo produce close Butter-Fancy creamerv, 25c. Ekks-Extras. 146144 c. Hay—Timothy per cwt.. 70c NEW YORK CASH GRAIN Hfl Vnitnl Prrtu NEW YORK. Aug. 7—Cash grain: Wheat —No 2 red. $1104; Nc 2 hard winter. sll4’, Corn No. 2 mixed, 564 e. Oats—No 3 white. 42 4c. All quotes C. I. F. New York. ST. LOUIS CASH GRAIN By Vnitrrt Prr* * ST LOUIS Aug 7—Cash grain Wheat —ln good demand, 4*ilc higher; No. 3 red winter wheat, 964 r: No 3 red, 95i 954 e. No. 4 red 944<.95c; No. 5 red. lr; *ample grade red. 83c No 1 red garlicky. 90c. No. 2 red garlicky :<oc. No 2 red garllrkv. 88'/94c; hard winter, lc higher; No. I hard. 95 4c No. 2 hard. 95c; No. 2 mixed. 95c; No. 3 mixed. 944 c. Corn--In fair demand. 4'die higher: No. 2 yellow 53''/Sl4r; No. 4 yellow. 52c: No. I white 55c: No 2 white. 55' Oats—ln tatr demand 4c higher; sample grade white. 33c; No 1 mixed. 36 <1.384c; No. 2 mixed 35c No. 2 red. 364;; No. 3 red, 354 c, No. 4 red. 34c.

Indianapolis Cash Grain

—Aug. 8 Thr btrt* for far lots of grsln st th* call of the Indianapolis Board of Trade, f o. h shipping point, basts 41'.ic New York rate w,*re Wheat Steady; No. 1 red. Rs‘bß9c. No. 2 red 84*,86c No 2 hard. 85fi87c. Corn Steady No 2 white 49',4?50',r; No 3 white 48 1 49 1 aC. No 2 yellow, 47*'* N 3 yellow, 46'. 8 47'je; No. 2 mired, 46' 2 4,47'jC; No. 3 mixed, 4S'af< 46 Oa's S'eadv No 2 white. 33'a3 34'ie; No 3 white, 32' n't;33' ic Hay—Steady , F c b. country polnta •aklng 23',c or lesa rates to Cincinnati or Louisville■ No 1 timothy. $6*1.6 50. No. 3 timothy. $5 50'*|6 —lr.spectiona Wheat—No l hard. 1 car. No 2 mixed, 2 car*. Total. 3 car*. Corn—No. 2 white. 1 car: No 3 white. 2 cars: No 1 yellow. 1 car. No. 3 yellow, i car Total. 5 car* Oat*- No 2 white. 3 ear* No 3 white, 26 cars. No 4 whi’e l car, Sample white. 4 cars. Total, 34 cars. INDIANAPOLIS WAGON WHEAT City grain eieva*or are paving 85 cen*a for No. 2 soft red wheat. Otner grade* on their merit*. Liberty Bonds Rv f'ntfr'f Prt* NEW YORK Aug 8 —Closing Llber'v bond* 'Decimal* represent thirty-*econd* > Liberty 3 l a* '32-47, 1W 15 Liberty Ist 4s '32-47' 101 26 Liberty Ist 4',* '72-47. 101 24 Liberty 4th 4 * ,33-3*l 102 25 Treasury 4‘s '47-52, 110 7 Treasury 4* '44-54, 106 10 Treasury 3*s .46-56, 104 13 Treasury 3’.* '43-47, . 102 5 Treasury I*s '4l-43' March 10124 Treasury 3\s <4O-47' Juno 10127 Treasury 3'* '46-47, . 99 26 Treasury 3s ■ SI-55, 98 13 NEW YORK RAW SUGAR FUTURES —Aug. 8 High. Low Clote January 1 53 1 48 1 49 March 1 57 1 54 1 55 Mav 1 82 1 58 1 59 July 167 1 64 1 64 September 1 46 1 41 1 42 December 1 51 1 46 1 48 New adhesive pads, said to cause no damage to floor surface, have been designed to hold the corners of stair rugs in place.

PAGE 13