Indianapolis Times, Volume 45, Number 94, Indianapolis, Marion County, 29 August 1933 — Page 13

AUG. 29, 1933.

Authorities Differ on Whether Purchase of Government Bonds Will Force Money Into Trade. By RALPH HENDERSHOT Timet Special Financial Writer

The sharp Increase in the amount of United States government bonds bought by the Federal Reserve banks during the last week was taken in Wall street to reflect pressure against the Institutions to co-operate more fully with the administration in bringing about a recovery in business. Buch purchases are supported to be helpful in two ways. They tend first to drive down the yield on the government bonds, and the theory la that when this yield reaches a certain point they will become unattractive to the banks, which will then place their funds elsewhere, perhaps in trade loans. Secondly, since the purchases are made chiefly from banks and consequently increase the banks’

supply of cash, it is supposed that part of this surplus cash will find its way into industry. Authorities disagree on the operation of these theories. Some believe they will work if carried far enough. Others contend that the previous administration tried the same thing and it failed to bring results. They hold the failure was due to the un'willingness of the banks to be forced into making loans they regarded as unsatisfactory, preferring rather to keep their funds idle and to pass the lack of earnings on to depositors in the form of reduced interest payments on deposits. ana Developments Should Prove Interesting It will be interesting to watch actual developments along that line at this time. The federal reserve banks apparently have been crowded into line by the administration, but their operations involve little more than a change in policy, if that. The big

—■

Ralph Hendershot

question is whether the member banks w'ill follow their lead. There is reason to believe that bankers are becoming more and more impressed with the power and authority vested in Washington officials, and they may prefer to liberalize their loan policies rather than invite the use of the big stick. They may, on the other hand, sit tight with the idea of forcing the government into making specific demands so that if the loans made do not turn out so well they will be able to pass the blame along to others. The latter policy might well result in still further reducing the rate of interest paid to depositors. Some people seemed to get the idea that the policy of increasing the purchases of government bonds by the reserve banks indicated an inflationary leaning on the part of the administration. Such would hardly seem to be the case. In fact, it looks very much as though it was adopted with the idea of avoiding inflation. In other words, if the banks were to make a sufficient number of loans in the old orthodox manner to act as a real spur to trade, the necessity for inflation might be eliminated. ana Results Count Most It probably does reflect, however, the determination of the administration to carry out its promise to raise prices of commodities, and a conviction on its part that this can be brought about in an orderly fashion only if the banks loosen their pvfrse strings to industry. And, after all, most people are interested primarily in the results rather than in the methods adopted to attain them, so it does not matter much whether they are inflationary or not. It is fair to assume that if present policies do not work, they will be altered. If the NR A program succeeds, as many people anticipate, loans made to industry at this time are likely to prove sound. And if the banks, without further force, stretch a point in the makihg of such loans, they may be said to be expressing confidence in that program. Industry already has expressed such confidence by signing up under the code.

New York Stocks ,Rv Abbott. Hoppin A Cos.) "

—Aug. 29 10:30. Prev. Oils— High. Low. E.D.T. close. Amerada 42% 42 Atl Rig 29% 29% Barnsdall 9% Consol Oil 13% Cont of Del 17% Houston i new) 5% 5% Houston ioldi 30' 4 29% Indian Rfg 3 Mid Cont Pet 14 Ohio Oil 14** 14*3 14 s * 14% Pet Corp 12 s * Phillips Pet 15% 15• Pure Oil ... 10', 10'* Royal Dutch 33% 33’* Sbd Oil 28 28 Shell Union ... ... 9% Simms Pet 10 Skelley Oil 8 Soc Vac 12’* SO of Cal 38’* 38’, S O of Kan ... . 22 s * SOof N J 39 >4 39’* 39’* 39’* Sun Oil 4J|* Texas Corp 25’* Tidewater Assn 9’* 9’ 4 Un Oil of Cal 20% 20** Steels— Am Roll Mills. 24% 24 s * Beth Steel 41’* 41*4 41 3 * 41 s * Byers A M 35 34’* 35 35'* Col Fuel & Iron 7 Cruc Steel 30’* Gulf Sts Steel .... £B% Inland Steel ... 37 McKeesport Tin 95% Natl Steel 51 SO% Rep Ir Sc Steel 18'* Pep Ir Si Stl pfd 41’, U S Smelt 92 1 * 91 7 * Vanadium 28 27’ 4 Midland 15 U S Pipe Si Fdy 19 U S Steel 57’* 57% 57% 57', U S Steel pfd ... 95% 95% Youngs S & T 28 Rails— Atchison 69 % 69'* 69% 69 Atl Cst Line ... 51% B Si O ......... ... .. 35% 35’* Can Pac 16’* 16’* 16’* 16% Ch & Ohio 46% 48'4 Chi Si Ot W s'. 5'4 C M & St P 9'* C M & St P pfd 15’* 15', 15% 15 Chi N W 12’* 12’* Chi R Isl 7% Dela & Hud 82 82 Erie .. 24’* Ort Northern. 29' 4 29' 4 111 Central 45% 45' 2 K C Sou 29 Lou & Nash..... ... ... ... 57’* M K & T 13 13 Mo Pac 7. Mo Pac pfd ... ... 9% N Y Cent 51’* 51'* 51% 53 NY Chi Ac StL.. .. 274 NYC&StL pfd 31% 31 s * NY New Haven 294 NY Ont & Wes 13 134 Norfolk & Wes 304 - • Nor Pac 30 Penn R R 284 284 Reading ••• 51 *2 Sou Pac •. 31’. SIS 31’. 32 Sou R R 34 Sou R R pfd 39 s , Union Pac 130 Wabash -r.W Maryland * 13S 13 s * AuburnT*” 81’* 62 Chrysler 41 s . 41*. 41 4 46% General Motors 35 35 * Graham Mot 4 4 Hudson 15’* 154 Miicic Truck .*. ... 40\ JO Nash 2’% 244 Packard 54 54 Reo - ... 4 4 44 Studebalter 7 6’* 7 6’* Yellow Truck 6 s’* 5% 6 ; Motor Access— B. l#4i 18 , 18’* 19*4 1 Bohn Alum ... 48’* 48 a j Borg Warner.... 20 4 20 20 20% luoTwheei :::::: ::: ::: i%| Eaton Mfg ... 14 14 Elec Auto Lite.. 22 s * 22 4 22 s * 22** Houd Hershev.. .. ... 4% 4’* ' Mullins Mfg 74 Murrav Body 8% Stow Warner 9 9 Timken Rol 324 31% 31% 32 Mining— Alaska Jun 29 28’* 29 284 Am Smelt 384 384 Anaconda 184 184 184 184 I Cal Si Hecla 64 j Cerro de Pasco.. 37 36% 36 s * 36 s , Granbv 12 12 Gt Nor Ore 134 13 s * Homestake Mm 285 j Howe Sound 26 Ins Copper Int Nickel 20% 21 | Kenecott Cop 22% 22'* : Noranda Coc ... 33 4 33% ! Phelps Dodge ... 16 Tobacco,— Am Snuff .. ... ... 494 Am Sum Tob. .31 30% 20% 204 ! Am Tobacco A 88 s * Am Tobacco B, 92 924 I Gen Cigar 394 39 Liet * Mvers B 974 87 Lorillard 234 234 ! Reynolds Tob B .. ... 53’* 53 s * Eonioments — Am Car St Fdv.. 32% 324 32% 32% Am Loco Am Mach * Fdr 18% 18% Am Steel Fdv 24 4 24 Bald LOCO 14 s . 144 Burroughs 4 4 Case J I .84 .7% Cater Tract . 25 | Coigat Palm Peet 18% Conao'eum Elec Stor Bat ! Poster Wheeler 18% 18% t Gen Am Tank Car .. 39 4 39%: C. Elec ... 254 254 25% *s’,, SSJS&r-:: ::: ::: A {Ei K ■. Klvtn a tor _ Ji% | Natl Cash Reg 20 j Proc * Gamble ■ ■ ’’ Pullman Inc M * Simmons Bed • CnS Elliot 3.% W West Air ••• .. J? ■ 2?t Westinth Wee.. 48 4.% 47% 474 WAftblncton P 29* 30 Am At Ff>r Pwt.. 14 13 ! a 14 13 1 2 a£ Power * Lit 13*4 12*2 12*4 12*. AT&T .. ISP. 129-% I31 1 s no Am Wat Wks ... ... 30* C™ Gas * Eire. • 19*4 19U 19*4 19*. Com & Sou ... . *• ■ 3S i Consol Gas ... o% 494 5f1% 4 Elec Pwr * Ltt 94 94 94 94 E P A L pfd 19% Int T * f 17^ Lou Q 8 I 181. . ... ... 20*4 Nat Pwr A lit.. 14% 14% 14% 14% North Amer 24% 23% 34 4 24 4 ! Pae G A B 34 24% K* Berv Hi 414 40% So Ca! Edlsa* 20% , Std Gaa 15% 15% Std Gaa pfd 16% 16% j United Corp .... 14 84 14 8%; Un Gaa linp..M . m* 194 19% i

Wall Street-

Ut Pwr A Lit (A) 43. W o'tL n Union - 71% 70 4 7i% 69% Rubbers— Firestone 27% 27% 27% 27% Goodrich # 17 8 r Good\ear " *4o’. Jar" U S Rubber I '[ 191! 20% u s Rub pfd.. :: :: v Kel Spring ’* ‘U 2 Amusements— 4 Croslev Radio .... ... ... 10’ Fox Film ...... .. t.! !!! 154 Loews Inc 334 33’/ B Radio Corp .... .. . git 8 RKO I" 31,* S 3 /, Warner Bros ... 84 8% 84 84 Foods— Am Sugar 664 Armour A 5% 54 Beatrice Cream 174 17% Eorden Prod ... 28 27% 28 27 s , Cal Packing 284 Canada Drv G A1 ' 32 Ooca Cola 934 Cont Bat A 144 141* Corn Prod sou Crm of Wheat.. .. ... 32 31% Gen Foods 37% 37’. Gold Dust .... „ ... 23 23 3 * G W Sugar .... r. ... 35 35% Hershev ... . 573. Na'l Biscuit *64 Natl D Prod ig% 195; Purity Bak ... 2! S Porto Rico Sug .. ... ... 434 Std Brands 29% 29% 29% 29% United Fruit ... ... ... 674 Retail Stores— 2 Best A- Cos 32% Gimel Brosb ... ... 6’. Or Un Tea 74 Hahn Dept Sts 7% 7% Jewel Tea 39 Kresge S S 12 12% Kroger Groc 28% 28 4 Macy R H 593* May Dept St 31% Mont Ward 28 27% 27% 28% Penny J C 48% 48% Sears Roebuck 43 Woolworth 49 Aviation— Aviation Corp.. 124 124 12% 12% Douglass Air 154 Curtiss Wright 3% ... Curtiss Wright A 6% 6% Nor Am Av 7% 7% United Aircraft.. 40% 39% 39% 39% Chemicals— Air Reduction 106% 1064 Allied Chem 142 142 s * Am Com Alcohol. 68V* - 684 68% 68’* Col Carbon ... ... 66 Com Solvents 40% Du Pont 83% 83% 83% 83% Freeport Tex 43 V, liquid Carb 35% Math Alkali 394 38’, Tex Gulf Sulph.. 34% 33% 34 34 Union Carbide 50% 50 U S Indus Alco 75’', Nat Distil .. ... 96 96% Drugs— Cotv Inc 54 5% Drug Inc 46% 46% Lambert ... 31’* Lehn Si Fink 19% Zonlte Prod .... 7% 7 7% 7 Financial— Adams Exp ... 11% 11% Allegheny Corp 6% Chesa Corp 51 50% 51 51 Transamerica 7% 7% Tr Conti Corp.' 64 7 Building— Am Radiator... 17% 17 17% 17V* Gen Asphalt.... 22% 23 Int Cement 34% Johns Manville.' 59 584 59 58% Libbv Owens Gls 31% 314 Chis Kiev 19% lilen Const > ... 34 Miscellaneous— Am Bank Note. ... 20 s , Am Can 94% 92% 94% 92% Anchor Cap ... 28% Brklvn Man Tr 33 Conti Can 64% Eastman Kodak 84% 85 Owens Bottle ... 82% 82% Gillette 15% 15% 154 15 Glidden 19% }9% Gotham Bilk 12% Indus Rayon ... ... “3 Inter Rapid Tr 7% Real Silk Hose 14*4

Foreign Exchange

Close Sterling. England *4.51%, Franc. France 0556% Lira. Italy 0749 Beleas. Belgium 1987 Mark, Germany 3390 Guilder. Holland 5740 Peseta. Spain 1181 Krone, Norway 2280 Krone. Denmark 2024

Indianapolis Cash Grain

—Aug. 28— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o b shipping point, basis 41% New York rate, were: Wheat—Weak No 1 red. 805 81c; No. 2 red. 79m 80c, No. 2 hard. 79m80c. Corn—Weak No. 2 white. 475 48c: No. 3 white. 46'0 47c; No 2 yellow. 44%645%c; No. 3 yellow. 43% 5 44%c: No. 2 mixed. 43%5 44%c; No 3 mixed. 42% 5 43%c. Oats—Easy No. 2 white, 33&34c; No 3 white. 325 33c. Hay—Steady: f. o. b. country points taking 23%c or less rates to Cincinnati or Louisville! No. 1 timothy. No. 2 timothy, *5.505 6. —lnspections Wheat—No. 1 red. 1 car; No. 1 mixed, 1 car. No. 2 mixed. 1 car. Total. 3 cars. Corn—No. 2 white, 14 cars: No. 3 white, 7 cars; No. 4 white. 2 cars; No. 1 yellow. 2 cars; No. 2 yellow. 16 cars; No. 3 yellow, 27 cars: No. 4 yellow. 9 cars; No. 5 yellow, 1 car; No. 6 yellow, 1 car; sample yellow, 1 car. Total. 80 cars. Oats—No. 2 white. 3 cars: No. 3 white. 15 cars: No. 4 white. 1 car; sample white. 1 car Total. 20 cars. Rye—No. 1, 1 car. Total. 1 car. CHICAGO FRIIT MARKET By United Prrtt CHICAGO Aug. 29 —Apples—Michigan Duchesa bushel. 735 90c; Illinois and Michigan wealthies bushel. 75c Psl. Pears— Michigan bushel. *ls 125. Canteloupes— M chigan. 505*1 25 Carrots—lllinois, 25 2%c Egg Plants—lllinois bushel. 35f150c. Spinach- Michigan, 605 75c. Cucumbers— Mich.gin. 505 iSc Beans—Hlinou bushel. 90c #*l Beets—lllinois. 15 1 %c. Cabbage —lllinoia crate. 75c55l 25. Celery— Michigan. 40 9 45c. Peppers—lllinois bushel 35 si 50c. Corn—lllinois, 20yj40c. Tomatoes: Michigan 12-quart basket. 20530 c. Onion Market—California: Yellows bushel. $1 105 1.15. Illinois: Yellows bushel. *Oo*sc. Iowa: Yellows bushel, 605.75 c. Indians WhiU, bushel, *191.10. "fT

GOOD DEMAND SENDS WHEAT PRICESHIGHER Corn Fails to Follow Lead of Major Grain at Opening. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Aug. 29. Wheat mounted *i to 1 cent fit the opening of the Chicago Board of Trade today. September wheat was up ’* and December and May climbed from % to a cent upward. Corn, generally, wks off Vs to % cent at the opening. September and May were down 14 while December was unchanged to 4 lower. Oats followed wheat, up !4 to 14, September and December oats were up ! at the opening while May was unchanged to ’4 up. 'Secretary of Agriculture Henry Wallace's plan for a 15 per cent reduction in acreage was about as expected. In the light of these facts, the wheat trading of late has been extremely nervous. Continued liquidation of September corn, coupled with the prospects for a fair crop has kept corn buyers and sellers in a fairly quiet mood. Firmest of all of the grains is oats, but the general trend of prices has been influenced from time to time by the action of the other grains. Chicago Primary Receipts By Abbott. Hoppin A Cos. —Auk. 38Today. Last Week. Wheat 1.234,000 1.195,000 Corn 733,000 480,000 Oats 507,000 646,000 Chicago Futures Range —Aug. 29WHEAT— Prev. High. Low. 10:30 close. September .88'/a .87% .87% .87% December ... .92% .91 % .91% .91% May 96% .95% .95% .95% Corn— September ... .50% .50 .50 .50% December ... .55% .55% .55% .55% May * .61% ,61% .61% .61% OATS— September ... .38% .38% .38% .38% December ... .40% .40% .40% .40% Mav 43% .43% .43% .43% p YJ£ September .. .72% .71% .71% .72% December .. .78% .77% .77% .77% May 84 .83% .83% .83% BARLEY— September ... .53% .53% Mav mb ":::: :H% $% CHICAGO CASH GRAIN CHICAGO, Aug. 28. —Cash grain close: Wheat—No. 1 hard, 88c: No. 2 hard, 88%c: No. 3 hard. 87c; No. 4 hard. 84c; No. 2 mixed, 87®87%c. Corn—No. 2 mixed. 50% Wslc: No. 6 mixed. 46%©47%c; No. 1 yellow 51c: No. 2 yellow, 50%®51%c; No. 3 vellow, 50% @so%c: No. 4 yellow, 49(f 50%c; No. 6 yellow. 47©48c; No. 1 white, 54fc; No. 2 white. 53®54c; No. 3 white. 53%c; sample grade. 41®45c. Oats —No. 2 white, 37% 0 38%c; No. 3 white 35® 37c. Rye— No sales. Bariev—43® 73c. Timothy—l4.so ®4.75. Clever—slo®*2.7s. TOLEDO CASH GRAIN By United Press TOLEDO. Aug. 28.—Cash grain close: Grain in elevators, transmit billing: Wheat —No. 2 red, 90%®91%c; No. 1 red. l%c premium. Corn—No. 2 yellow. 56057 c. Oats —No. 2 white. 40%® 41%c. Rye—No. 2 80%©81%c. Track prices, 28%c rate. Wheat—No. 1 red, 86%@88c; No. 2 red. 85%@86%C. Corn—No. 2 yellow. 51%® 52%c; No. 3 yellow. 50%©51%c. Oats— No. 2 white. 37%©39c: No. 3 white, 36© 39c. Toledo seed close: Clover—Cash 57.20; October. $7.45; December. $7.45. Alsike—Cash. $8.50; December, $8.75. Produce close: Butter—Fancy creamery. 27c. Eggs—Extras. 15@15c. Hay-Timothy per cwt, 70c. ST. LOUIS CASH GRAIN By United Press ST. LOUIS. Aug. 28.—Cash grain: Wheat—ln slow demand, lc lower: No. 2 red. 88%®90c; No. 3 red. 88%c; No. 2 red garlicky. 84%©86%c: sample red garlicky. 82c; No. 2 mixed, 88%c; No. 3 mixed, 88%c. Corn—ln slow demand, unchanged; sample mixed, 46c No. 2 yellow, 52c; No. 3 yellow, 51©51%c; No. 2 white, 54%c®55c; No. 3 whitfe, 53%c. Oats—ln slow demand, unchanged; No. 1 mixed. 37%c: No. 2 mixed. 34%®37%c! No. 4 mixed, 34%c; No. 4 rye. 73c. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 78 cents for No. 2 soft red wheat. Other grades on their merits. NEW YORK COFFEE RANGE —Aug. 28— RIO High. Low. Close. January ... ... 5.80 March 6.15 &94 5.94 May 6.24 WO2 6.04 July ... 6.10 December 5.72 9.77 5.77 SANTOS January ... 8.19 March 2... 8.35 May 8.57 8.43 8.45 July ... 8.55 September 7.95 7.89 7.89 December ... 8.17 NEW YORK RAW SUGAR FUTURES —Aug. 28— High. Low'. Close. January 1.61 1.58 1.60 March 1.67 1.65 1.66 Mav 1.73 1.71 1.71 July 1.78 1.76 1.76 September 1.46 1.44 1.4,6 December 1.58 1.56 1.57

HORIZONTAL Answer to Previous Puzzle 9 The pictured * Deity. |. /I All 1-r |r- Ir-ll 1 1 kVc.lew'k'il nian a,SO 3 Who is the b]l marte a wor,d heroic man in SSSSoEP u/.._ d AJ=-p0 flight with the picture? j SMSIMI WALTER gljj£ Harold ? 9 Grain (abbr.). IflUklCnM 10 Cereal II To permit. 1 PjA JUnNSuN grasses. 13 Tiny. QqMM A. 1 12 Trinity. 14 Twenty-four NBB A,5 Eo A’L lL|iCp.T|£i 14 Apportioned, hours. I Sf[EML IE iOML] I 15 Branch of the A I[DiSBV shaft of a 1 ■MBf 1 |P| I ClHjElP] 18 Second note, feather. LMM Q[o TBBD I NIE sPbR]E| 19 Cantaloupe. 17 Rhythm. jC|E. N|T Elßl I NG|SBAiNIA| 21 Denunciations. 19 To apportion Ik AN 5 A out. man to fly the 20 The pictured 37 Fence rail. 55 The pictured ocean man is one of 38 Unsuitable. man recently solo. the world's 40 Goddess of completed a 26 Narration, foremost peace. solo flight 29 To foreknow. s? 42 Net weights ? 31 Director. 22 Says again. of containers. VERTICAL 34 ' Vainscotted * 24 All, distribu- 43 Era. * 36 Shipworm. tiveiy. 46 Coffeehouses. 1 Place of 37.T0 happen. 25 Partner. 47 Dyeing Napoleon’s 39 By _ 27 Drone bee. apparatus. exile. 41 To knock. 28 Folding bed. 4S Smells. 2To depart. 43 Entrance. 30 Standard of 50 Wan. 4 Neuter 44 Exclamation, type measure. 51 Guided. pronoun. 45 \ Great Lake. 32 Northeast. 52 A cutting oft 5 Pitcher. 4S Ancient. 33 Within. of a syllable. 6 Still. 49 To plant. 34 Italian river. 54 Sheltered 7 Nobleman, 52 Half an em. 35 Pussy. place. 8 Southeast. 53 Nay. £ | 5™ TANARUS“ 5™ G*"" 8 | 9' " iiiiiiiziiipii: * w ■ *1 15 ii 23 “IT" ' 15 TZ. '44 45 4^ Wf 55 ■■*

THE INDIANAPOLIS TIMES

Chicago Stocks '"Sr Abbott. Bounin St Cos.

(Total Shares. 63.000), ~ AU *' High. Low. Close. Abbot Lab Allied Products 15 14 if * Armour Common % Asbestos Mfg 4% 4 4 Assoc Telephone Util Automatic Washer i 2 Bastian-Blesslng .g Bendix Aviation 1% JL BerghofT Brew Cos 12% • Borg-Warner 21 1| a 20 , E. L. Bruce Cos 19 18% Butler Bros 5 *•* 2 * Canal Construction .... • ■ Cent 111 Pub Serv pfd 25% 25 25 a Cent 111 Securities com Cent ASo West ...... 2% 2-4 2 * Cent &3oW PL pfd 16% 1 1 Chi A North Western 12% 2 Chicago C0rp0nv...... 3% a .a Chicago Flexible Shaft.. 11% ** ii 2 Chicago Towel pf L... •• Chicago Yellow Cab ... 12% 11% Cities Service ........ s ij Commonwealth Edison. 57 58 a Construct Materials pfd .. ••• .2 Crane Cos .2™ ,4,4 jg De Mets. Inc., pfnee.... 1® 14 * g lUectric C Househoid ii'A 10% 11.* General House Util .... 20 17 1| Great Lakes Dredge 16 15 1 Grigsbv-Grunow 3 * * Si' Hall Printing Si* Honda ille-Hershey < B>.. 4 % Illinois Brick 5% 5 4 ? * Jefferson Elec 13 12 “ Kingsbury Brew Cos >1 Libby McNeil

In the Cotton Markets

—Aug. 28— CHICAGO „ High. Low. Close. t.mi.,ti . . 10.01 9.90 10.00 March ... ... . . 10 20 10.08 10.16 Mav 10 35 10.22 10.33 October 970 9.60 9.66 December':::: 994 9.78 8.89 NEW YORK January 9.94 9.83 9.94 March ......... 10 12 9.97 10.07 May 10.28 10.16 10.24 3X “ 10.38 10.33 10.36 October' 967 9.52 9.62 December'.:. 9 87 9.71 9.71 NEW ORLEANS • January 9.86 9.80 9.84 MaJ 10.25 10.14 10.20 T*i]y ••••••• •••• .• •• 10.3d October 9.58 9.48 9.56 December 9-82 9.69 9.76 Other Livestock BY UNITED PRESS CHICAGO, Aug. 29.—Hogs—Receipts. 50,000, including 6.000 direct and 30,000 pigs and 2,000 piggy sows; market dull, around 10 cents lower than Monday; 180220 lbs., $4.Q5®4.40: top. $4.45; 230 to 295 lbs, $3.50® 4.35; 300-400 lbs., [email protected]: light lights, s3® 3.60; common pigs, $3.50 down; packing sows, $2.50® 3.15; light lights. 140-160 lbs., good and choice, $3.60 ©4.35; light weight, 160-200 lbs., good and choince, [email protected]; medium weights, 200250 lbs., gooc and choice, $404.45; heavy weights, 250-350 lbs., good and choice, $3.15 @4.10; packing sows, 275 to 550 lbs., medium and choice, [email protected]; slaughter pigs, 100-130 lbs., good and choice, $2.25® 3.60. Cattle—Receipts, 7,500; calves —Receipts, 200; better grade feeding steers and yearlings comparatively scarce, fully steady; commons in liberal supply, weak; instances 10c to 15c lower; 1,250 lbs., averages, top, $6.85; bulk 1,643-lb. averages, $6.50; decline in vealers: other classes unevenly steady to 25c lower; slaughter cattle and vealers: steers, 550-900 lbs., good and choice, $5.25@7; 900-1,100 lbs., good and choice, $5.2507; 1,100-1,300 lbs., good and choice* $5.2507: 1,300-1,500 lbs., | good and choice, $5.50®7.25; 550-1,300 lbs., common and medium, $305.50; heifars, 550-750 lbs., good and choice, $4.75®6.25; common and medium, $2.5004.75; cows food, $3.5004.50; common and medium, 2.40®3750; low cutter and cutter. $1.25® 2.40: bulls (yearlings excluded), good ibeef), $3.25®4; cutter common and medium, $2.25©3,25; vealers, good and choice, s6@7; medium. $5.500 6; cull and common, s4© 5.50: stocker and feeder cattle: steers, 556-1,050 lbs., good and choice, s4@ 4.75; common and medium, $2.75@4. Sheep —Receipts, 15,000, fat lambs active, 25c to 40c higher; native selling freely up to $7, sparingly to $7.25; westerns held around $7.40; rangers to around $7; slaughter sheep and lambs 90 lbs. down, good and choice. [email protected]; common and medium, [email protected]; ewes, 90-150 lbs., good and choice, $1.50 0 2.75: all weights common and medium. 75c@$2; feeding lambs, $5.8506.25. LAFAYETTE Aug. 29.—Hogs—Market 10® 15c lower: 200-230 lbs., $4.1504.20; 230-250 lbs., $3.9504.05: 250-270 lb.s. [email protected]: 270-290 lbs.. $3.50®3.65: 290-325 lbs.. $3.25 ©3.40; 150-200 lbs.. $3.7504.15: 130-150 lbs., $3®3.40; 100-130 lbs., $2.2502.75; roughs $2.75 down; top calves, $5.50; top lambs, $6.

Daily Price Index

NEW YORK, Aug. 28.—Dun A Bradstreet’s daily weighted price index of thirty basic commodities, compiled * for the United Press: (1930-1932 Average, 100) Today 101,74 Friday 102.03 Week ago 101.54 Month ago 105.66 Year ago 82.45 1933 high (July 19) 113.52 1933 low (Jan. 20) 67.86 (Copyright. 1933, Dun A Bradstreet, Inc.)

Retail Coal Prices

The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed. Indiana No. 4 and No. 6. fifth vein lump. $5.25: egg. $5: mine run. $4.75. Indiana No. s—Lump. $5; egg, $4.75. West Virginia—Lump. $6.50; egg, $6.25: mine run, $6. Eastern Kentucky—Lump. $6.50: egg. $6.25: mine run. $6. Pocahontas—Shoveled lump, $7.75: egg. $8: mine run. $6.75. New River Smokeless—Shoveled lump, $7.75: egg. SB. Semi-Smokeless—Egg or lump. $7.25. Coke—Egg or nut. $8: pea sizes. $6.75, Plumbing Permits C. A. Johnson, 462 W. Washington; two fixtures. Chas. McNabb A Matthew, 2068 Illinois; one fixture. Chas. McNabb, 1319 Columbia; two fixtures. Chas. McNabb, 3006 Central; one fixture. Huber A Flaskamp, 318 Fulton; one fixture.

Lincoln Printing pfd 4% Loudon Packing 12 la-nch Corp 38% 37 37% Marshall Field 15% 15% 15% Mickelberry's Food Pro * Middle West Utilities.. % % % Midland United 1 National Leather 1% 1% 1% Noblitt Sparks Ind Inc 25 North American Car.. .. ... North Amer Lt A Pwr 3 Northwest Bancorp "% No West Util Pr Lien 9% Oshskoh Overall 6 5% 5% Penn Gas A Elec ..." Pines Winterfront 2% 2% 2% Prima Cos 25% 24% 25% Public Service 33% Quaker Oats pfd 116 Railroad shares 1 Seaboard Utilities Sh.. % % % Sears Roebuck 43 42 43 Studebaker Mail ... % Studebaker Mail (A) % Swift ACo 19% 18% 18% f-vift Internacional .... 27 26% 27 Thompson JR 10 Utah Radio ... 1% Utility e.* Ind 2 1% 2 Utility A Ind pfd 5% 5 5% Vortex Cup Cos ... 8 Walgreen Cos com 17% 17% 17% Ward, Montgomery (A) 78% Wieboldt Stores .... 11 Zenith Radio 2% 2% 2% ASK WHEAT GUT OF 15PER CENT Proposed Acreage Reduction Would Apply to 1934 Crop. By United Press WASHINGTON, Aug. 29.—Secretary of Agriculture Wallace has asked American wheat growers to reduce their acreage by 15 per cent in the next crop year. The administration program is designed to reduce the surplus which long has burdened the wheat market and to align the United States with the world control plan proposed by the London wheat conference. The plan seeks curtailed sowing but no plowing under of crops. American growers would receive about $125,000,000 in acreage reduction bounties from the government. These cash rewards would be financed by a processing tax of 30 cents a bushel levied on ail wheat milled into flour and other food products. Wallace withheld announcement of his policy concerning American wheat exports, pending final approval by the four exporting countries of the exact language of their supplementary agreement at London. “The chances are 99 to 1 that Argentina and the other countries will sign in London today,” said Wallace. “I think the thing is all set.” The 15 per cent reduction W'ill apply only to wheat plantings for harvest next year. Decision as to the extent of reduction for the 1935 acreage will be made a year from now Wallace said. He added that he expected the 15 per cent, cut to lower wheat plantings this fall by about 9,600,000 acres and reduce the 1934 crop by more than 124,000,000 bushels.

Produce Markets

Delivered in Indianapolis prices: Hens, heavy breeds over 4% lbs.. 10c; Leghorns, 7c. Broilers: Colored .springers, 1% lbs. up. 10c; springers (Leghorn). 1% lbs. up, 7c; barebacks, 7c; cocks and stags 6c; Tjeghorn cocks and Leghorn stags, Bc. Ducks, large white, full feathered and fat, over 4 lbs., 4c; small and colored. 3c. Geese, full feathered and fat 3c. Young guineas, 20c: old guineas. 15c. Eggs—No. 1 fresh country run eggs, 13c. Each full egg case must weigh 55 lbs. gross; a deduction of 10c per lb. for each lb. under 55 lbs. gross will be made. Butter—No. 1, 25@26c; No. 2. 22@23c. Butterfat—l7c. Quoted by the Wadley Company. BY UNITED PRESS CLEVELAND, Aug, 29.—Butter—Market steady; extras. 26c per lb. in tubs; standards, 25%c per lb., in tubs. Eggs—Market steady: extras 19c; current receipts, 15c: extra firsts. 14%c. Poultry—Market about steady; heavy fowls 13c; medium fowls, 11012 c: Leghorn fowls. 9c; heavy broilers, 13®15c; Leghorn broilers, 10© 11c; old roosters, 8c; ducks, 8© 10c. Potatoes—New Jersey and Long Island United States No. 1 Cobblers mostly $2.75 per 100-lb. sack; Idaho russets Burbanks. [email protected] per 100lb. sack.

Births Girls Carl and Loretta Kuehr. 523 Orange. F. Hale and Harriet Brown, Coleman hospital. Herbert and Carrie Davis. Ooleman hospital. Hyeries and Edella Hamble Coleman hospital. Lexie and Hazel Hollars, Coleman hospital. Raymond and Esther Johnson. Coleman hospital. Frank and Irene Sherman Jr., Coleman hospital. Rupert and Gladys Whittemotf. Coleman hospital. Harold and Suzanne Hood, Methodist hospital. Wayne and Helen Crouch, Methodist hospital. Nathan and Dora Prince, Methodist hospital. Jovin and Pauline Almond. Methodist hospital. Ralph and Louise Meyer Methodist hospital. William and Hilda Hinton, 15 Frank. Joseph and Josephine Pons, 227 East Henry. John and Clementine Frazee, 1229 Naomi. Boys Stanley and Mildred Boss. Coleman hospital. John and Carrie Bray. Coleman hospital. Frederick and Gvyleda Hodson, Coleman hospital. Thomas and Hezel Rhoades. • Coleman hosiptal. James and Sylvesta Schneiderhan. Coleman hospital. Fred and Edith Torrence. Coleman hospital. Earnest and Pearl Evans, Methodist hospital. Clarence and Martha Korthaus. Methodist hospital. Orville and Bessie Price. Methodist hospital. Sidney and Virginia Salinger, Methodist hospital. Kenneth and Wilma Blades. Methodist hospital. william and Mary Johns. Methodist hospital. William and Lillian Harris. 548 Fletcher.

Deaths John W. Lee, 82, Methodist hospital. myocarditis. Virginia Fitch. 28, Methodist hospital, accidental. Thomas Reilley, 72, Little Sister* of the Poor, arteriosclerosis. Harold Merwald, 17, Robert Long hospital. chronic nephritis. Clayton E. Filkerson, 75, 1050 West Thirty-first street, cerebral thrombosis. Frank Williams Jr., 3 months. 535 Minerva, bronchial pneumonia. Abby Newell Erskine. 56. 1717 North New Jersey, hypostatic pneumonia. Stella Belle Miles, 49. city hospital cerebral hemmorhage. William F. Zeller, 80, 1021 West New York, mitral stenosis. Bernard L. Mott. 49, 3777 North Meridian Apartment No. 404, angina pectoris. Harry Weill. 66. Methodist hospital coronary thrombosis. Mrs. Blanche M. Montgogmery, 64. city hospital, appendicitis. Clifford Stoner. 32. 845 South Belle Vieu Place, brain abcess. Oliver D'Camp. 65, 619 East Twentythird street, Mitro regurgatation of heart., David Ross, 66, 1041 Chadwick, coronary thrombosis. Anna Louise Martin. 50. 935 North Belle Vieu, Hodgkins disease. Mollie Burris, 52. 445 West Twenty-ninth street, chronic myocarditis. Neal Collins Jr., 9, Riley hospital, peritonitis. James Randall Wilson. 26. Long hospital, accidental. Harry Martin Tinbrook Kirby. 53, 828 North East street, chronic myocarditis. John Lucas Roberson. 80. 2276 Indianapolis avenue, cardio vascularrenal disease. William Elson, 73, city hospital, accidental. Alvin Hughes. 17, Long hospital, accidental. Rachel H. Baker. 80. 1091 River avenue, cardio vascularrenal disease. Barbara Hauser, 73. city hospital, arteriosclerosis. In the Air Weather conditions at 9 a. m.: East wind, 6 miles an hour; temperature, 66; barometric pressure, 30.12 at sea level; general conditions, high scattered clouds; celling, unlimited; visibility, 8 miles,

PORKER PRICES DROP 15 CENTS AT CITYYARDS Best Steers, Heifers Hold Steady* in Cattle Market. Hog prices dipped 15 cents for the most part at the Union Stockyards this mornir.g. With receipts of 14,000 a total of 5,000 pigs for sale to the government were on hand. Weights of 160 to 230 pounds, $4.40 to $4.35; 230 to 260 pounds, $4 to $4.20; 260 to 300 pounds, $3.60 to $3.90; 130 to 160 pounds, $3.25 to $3.85; 100 to 130 pounds, $2.50 to $3. Packing sows sold mostly at $2.50 to $3. Holdovers today were 593. In the cattle market a few' choice steers and the best light heifers were steady. One load of steers brought $7, best heifers salable at $6 to $6.40. All other classes were extrmely dull and hard to move. Demand U'as indifferent with the price trend unmistakably lower. Receipts were 2,200. Vealers were steady at $6.50 down. Calf receipts were 800. Lambs were steady, the bulk selling at $7 down. Small lots brought up to $7.25. Bucks sold for a dollar less. Throwouts moved in a range down to $3. Action was slow on hogs at Chicago, with most grades weak to around 10 cents lower than Monday’s average. Bulk prices were not established in the initial trade. Receipts were estimated at 50,000, including 6,000 direct. Today’s government purchase included 30,000 pigs and 2,000 piggy sows. Cattle receipts numbered 7,500; calves, 2,000; market steady. Sheep receipts were 15,000; market unchanged. * HOGS Aug. Bulk. Top. Receipts. 22. $4.60® 4.65 $4.65 9.500 23. 4.450; 4.50 4.50 7,000 24. 4.45® 4.50 4.50 5.000 25. 4.40® 4.45 4.45 6,000 26. 4.40® 4.45 4.45 2,000 28. 4.45® 4.50 4.50 11,000 29. 4.30© 4.35 4.35 14,000 Market, lower. —Light Lights—-(l4o-160) Good and choice....s 3.60© 3.85 —Light Weights—-(l6o-180) Good and choice.... 4.30 (180-206) Good and choice ... 4.30 —Medium Weights—-(2oo-220) Good and choice..., 4.35 (220-250) Good and choice.... 4.10@ 4.30 —Heavy Weights—-(2so-290) Good and choice.... 3.70@ 4.00 (290-350) Good and choice ... 3.23© 3.60 —Packing Sows—(3so down) Good 2.85® 3.10 (350 up) Good 2.75® 3.00 (All weights) Medium 2.50® 2.85 —Slaughter Pigs—-(loo-130) Good and choice.... 2.50® 3.00 CATTLE Receipts. 3,200; market, steady. (1.050-1,100) Good and choice $ 5.25© 7.00 Common and medium 3.50© 5.25 (1.100-1,5001-Good and choice 5.25© 7.00 Common and medium 4.00© 5.25 —Heifers—-(sso-750) Good and choice 5.00® 6.25 Common and medium 3.00© 5.00 (750-900) Good and choice 4.50© 6.00 Common and medium 3.00® 4.50 —Cows— Good 3.00© 3.75 Common and medium 2.25© 3.00 Low cutter and medium .... 1.25© 2.25 —Bulls (yearlings excluded) Good (beef) 3.00© 3.50 Cutter, common and medium. 2.00® 3.00 VEALERS Receipts, 800; market, steady. Good and choice ~s. 6.00© 7.00 Medium 4.50© 6.00 Cull and common 3.00® 4.50 —Calves — (250-500) Good and choice 4.00® 5.50 Common and medium 2.00® 4.00 —Feeder and Stocker Cattle—-(soo-800) Good and choice 4.25® 5.50 Common and medium 3.00© 4.25 (800-1,500) Good and choice 4.25® 5.50 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts. 2,200; market, steady. —Lambs—(9o lbs. down) Good & choice.s 6.50© 7.25 (90 lbs. down) com. and med.. 3.00® 6.50 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75

Other Livestock BY UNITED PRESS EAST BUFFALO, Aug. 29.—Hogs—On sale, 3,400, including 2 400 on government order; market slow, steady to 5c under Monday’s average; desirable 170-220 lbs., $4.80(8.4.85: mixed and plainer lots. $4.65 (84.75; 290-350 lbs.-butchers, $3.85(8 4.15; 120-150 lbs., quoted at $4.25(84.50. Cattle —Receipts, 100; virtually nothing doing on steers; cows scarce, steady: cutter grades, $1.75(§>2.35. Calves—Receipts. 25; vealers unchanged; good to choice mostly SB. Sheep—Receipts. 100; lambs nominally steady; good td choice ewes and wethers quoted at $7.0; medium kinds and fat bucks. $6.25(8 6.50; throwouts, $5(85.50. ~CLEVELAND Aug. 29.—Cattle—Receipts, 100; mostly western cattle; market slow and steady; all sold; steers, choice, 7501,100 lbs., good 550-900 lbs., $5.50(5 6.50; heifers, good. $5.505 6; cows and bulls unchanged. Calves—Receipts 350; market steady to 50c lower; bulk of receipts sold at SB. with very few fancy i^ 1 S r . s . br .‘ nginK SB - 50 top; choice to prime. $8(8 8.50; fair to good, $65 7; common. $5.50 down. Sheep—Receipts. 2,000: market 25c lower: quality common with truck receipts predominating in market; choce wethers, $2.50(83.25; choice spring lambs $7®7.25; good to choice. $6.508 7; common and cull, $3(85. Hogs—Receipts, 6,000; market, 105 15c lower; government receipts total 5 200: pigs, close quiet: heavies [email protected]: choice 220-250-lb. butchers, ' $4 60: light butchers, $4.60; choice porkers, $4.60; tnin and common hogs, 100 lbs. up. $4.35; stags 2, roughs. $2.5053; pigs. $35 3.50. PITTSBURGH. Aug. 29 —Cattle—ReSni, pts c ma rket sieady. Hogs—Receipts 800; holdovers. 600; market slow, steady; prime heavies. 240-300 lbs., $4(84.50: heavy mixed, 210-240 lbs. *4.6054.75; mediums, h*’ 1 S’[email protected]; heavy Yorkers [email protected]: light Yorkers. 120-145 lbs. $3 75 JJM: P'JJS. 90-115 lbs., $353.50: roughs. $3 r a 3.25 Sheep and lambs—Receipts 1,500; market steady; lambs good to choice, 90 lbs. down. $7.2537.50; medium. 90 lbs. down $335; medium, 91 lbs. up, $5 505 6.50; sheep, wethers, prime. $2.7553.15; fair to good. $1.755 2.25; ewes, medium to choice, sls 2.50. Calves —Receipts 100market, steady; vealers, good $6.7557 50; 5*50 Um ' * 4,50 ® 8: heav V an d thin. $2,505

EAST ST. LOUIS. 111., Aug. 29—Hogs— Receipts, 14.000; market, slow, 5310 c low- -. tO .R SL 40 ,v bulk 170-225 lbs., $4.25(3 4.59, 230-260 lbs., *3.8534.15: no heavies action on pigs; a few sows, 52.60 33. Cattle—Receipts. 5,000; calves receipts, 2,500; market, steady to strong on steers: vealers. 25c lower and other .unchanged; early steers sales, *4.403.5.85; western steers. *3.5034 65 mixed yearlings and heifers. *4.500 5.75; cows, $2.50 0 3 with some western cows! *3 40: low cutters. *1.2561.65; top sausage bulls, $2.85; good and choice vealers, $6.25; slaughter steers 550-1100 lbs., good and choice. $5.25(36.75; common and medium. *3(3 5.25; 1100-1500 lbs., choice. *6.25'3 6.75good, $5.250.6.25; medium, $3.753 5.25. Sheep—Receipts, 2,500; market, fat lambs. Steady to 25c higher; throwouts and sheep steady; bulk lambs to packers, *6.2506.50 a few strictly choice, $6.75: small lots better sorts to city butchers, $6.75*3 7; buck lambs *1 less; common throwouts $3.50; slaughter ewes, *1(32.75; lambs 90 lbs. down, good and choice, *67; common and medium, *3.50(36; yearling wethers 90-110 lbs., good and choice, $43 5: ewes 90150 lbs, good and choice, *1.500 2.55; all weights, common and medium', *132. FT. WAYNE. Aug. 29.—Hogs—25c off; 200-225 lbs.. $4.25; 225-250 lbs.. *4.10: 250275 lbs.. *3.85; 275-300 lbs., $3.65; 300-350 lbs . *3.40; 160-200 lbs., *4.15; 150-190 lbs., *3 90; 140-150 lbs., *3.65; 130-140 lbs.. *3.35; 100-130 lbs.. (3; roughs, *3; stags, *2. Calves. $8: lambs, *6.50. By Tima Special LOUISVILLE. Aug. 29.—Cattle—Receipts. 150: slow and around steady at Monday's decline on grass steer* and heifers; bulk salable *304; cutter kinds down to $2 50 and be *°T, ; i* s '. fed offerings eligible to $5.50: bulk beef cows. *2 253 2.75;; low cutters and cutter cows, *102; sausage bulls mostly *2.75 down; native Stockers and feeders mostly *4 down: good Hereford stock calves to *5 or better. Calves—Receipts. 300: steady; bulk better grades. *5 0 5.50; medium and lower grades *4 50 down; heavy grass calves discounted. Hogs —Receipts. 2.000. including 900 pigs and 25 piggv sows on government order. Hogs— Market 5c lower: 180-235 lbs.. *4.40: 240275 lbs $3 95: 280 lbs up. *3.70; 140-175 lbs.. *3.55: 135 lbs. down. $1.85: sows *2.55; stags. *ls°. Sheep—Receipts. 800: lamb*. 253 50c lower: most loss on plainer grades; bulk better truck lambs, S6O 6 50; bucks mainly *53 5 50; Immature light lambs. $2.5003 50; fat slaughter ewes, *132: stock ewes mostly $637 per head: plainer kinds down to *4.50. Receipts Monday: Cattle. 792; calves. 669; hogs, 1.414, and sheep. 2.106. Shipment* Monday: Cattle, 217; calves, 000; and sheep. I 231,

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inquiries or recent transactions. —Aug. 28Bid. Ask. Belt Rail & Stock Yards, com. 27% 32% Cent Ind Par pfd 7% 8 12 Citizens Gas Cos pfd 5% 63 67 Citizens Gas com 14 17 Home T & T Ft Wayne pfd 7% 36 40 Ind <fc Mich Elec Cos pfd 7%.. 69 73 Ind Gen Service Cos pfd 6%.. 65 69 Ind Hydro Elec Cos 7% 25 29 Indpls Gas Cos com 40 44 Indpls Pwr & Lt pfd 6% 61 65 Indpls Pwr A Lit pfd 6%G.. 62 66 No Ind Pub Berv Cos pfd No Ind Pub Serv Cos pfd 5%% 30 34 No Ind Pub Serv Cos pfd 7%.. 35 39 Indpls Water Cos pfd 5%.... 89 93 Ind Pub Serv Cos 6% 35(4 39% Public Serv Cos of Ind pfd 6%. 14 17 South Ind Gas A El pfd 6%.. 58 62 Terre Haute Elec pftf 6% 33 37 BONDS Belt R R A Stkvds 5s 1939.... 88 92 Citizens Gas Cos 5s 1942 86 90 Home TAW 5%s 1955 97 100 Home T A T W 6s 1943 98 102 Indpls Gas Cos 5s 1952 71 74 Indpls Rvs Inc 1967 29 32 Indpls Water Cos 4%s 1940 98% 100% Indpls Water Cos 5s 1960 93 97 Indpls Water Cos 5s 1970 92% 96% Indpls Water Cos 5%s 1953 100 103 Indpls Water Cos 5%s 1954.... 100 103 Kokomo Wat Works 5s 1958... 79 83 Lafayette Tel Cos 5s 1957 83 87 Muncie Water Works 5s 1939.. 92% 96% Richmond Water Works, 1957. 84 88 Terre Haute Wat Wks 5s 1956. 84 88 Terre Haute Wat Wk 6s 1949.. 93% 97% Traction Terminal Cos 5s 1957.. 45 49

Investment Trust Shares

(By Abbott, Hoppin A Cos.) —Aug. 29Bid. Ask American Bank Stocks Corp.. 1.21 1.37 American A General Sec A.. 6.00 7.00 Basic Industry shares 3.60 3.70 British Type Inv Tr sh 62 .72 Collateral Trustee shares A.. 500 537 Corporate Trust shares toldi.. 230 235 Corporate Trust shares (new). 245 2.50 Cumulative Trust shares ... 430 4.45 Diversified Trust shares A 6.12 .. . Diversified Trust shares B 850 875 Diversified Trust shares C 3.35 340 Diversified Trust shares D ... 530 5.40 First Insurance Stock Corp.. 1.74 1.85 First Common Stock Corp.... 107 1.27 Fixed Trust Oil shares A.... 9.50 .... Fixed Trust Oil shares B ... 450 Fundamental Trust shares A.. 449 453 Fundamental Trust shares 8.. 4.25 440 Investors Inc 16.87 18.00 Low Priced shares 657 670 Mass Inves Trust shares 19.00 20.62 Nation Wide securities 363 3.75 North Amer Trust sh 11953) 1.90 .... North Amer Trust sh (55-58 C 260 2.67 Petroleum Trust shares A 11.00 14.00 Selected American shares ... 2.87 Selected Cumulative shares.. 700 7.25 Selected Income shares 3.75 4.00 Std Amer Trust shares 3.25 330 Super Amer Trust shares A.. 3.09 .... Trust Shares of America .... 3.17 327 Trustee Std Oil A 5.21 5.41 Trustee Std Oil B 4.54 475 U S Electric Lt A Pwr A.... 14 12 14.50 Universal Trust shares 3.15 3.25 New York Curb (By Abbott, Hoppin A Cos.) —Aug. 28— Close! Close. Alum Cos of Am 80%Tntl Ptrol 18 Am Bev 2%;Lake Shore Mi. 44% Am CPA Lt B 3% Lone Star Gas.. 9% Am Cyan B ... 13% Mount Prod .... 5% Am Gs A E 1... 30% ! Natl Bellas Hess 3 Am Sup Pwr ... 4% Niag Hud Pwr.. 9% Ark Ntl Pwr A 2 Pan Am Airways 58 Ass Gas A .... IVilParker Rstprf... 68 Atlas Ut Crp ... 15%iPennroad 4% Braz Tr A Lt.. 14L Pioneer Gld Mi. 12% Con Marc .... 3 St Regis Paper. 5% Cent Sts E 1... 2%:Salt Creek Prod 6% Cities Serv ... 3%jSegal Lock .... % Commn Edison 60 Std Oil of Ind.. 30% Cord 12%iStd Oil of Ky.. 17 Eisler Elec .... I%'Stutz 10 El Bnd A Sh... 25 lUnited Foundters 1% Ford of Eng.... s%jUnited Gas .... 4% Ford Mot Can. 18%!Un Lt A Pw A 5% Hudson Bay Mi lOViiUnited Verde ... 4 Imperial Oil ... 14 iWoolworth Lmtd 20% Irving Airchute. s%!Wright Harg s. 7% New York Bank Stocks (By Abbott. Hoppin A Cos.) —Aug. 28— Bid. Ask. Bankers 61% 61% Central Hanover 130 140 Chase National 28 28% Chemical 39% 39% National City 31 31% Corn Exchange 54% 55% Continental 15% 16 First National .’. 1,435 1,450 Guaranty 319 321 Irving 19% 19% Manl atten A Oo 28% 29% Manufacturers 17 17% New York Trust 98% 99% Liberty Bonds By United Press NEW YORK. Aug. 28.—Closing Liberty bonds: (Decimals represent thirty-seconds) Liberty 3%s (32-471 102.19 Liberty Ist 4%s (32-47) 102.13 Liberty 4th 4%s 133-38) 102.30 Treasury 4%s (47-52) 110.26 Treasury 4s (44-541 106.24 Treasury 3%s (46-56) 105 Treasury 3%s (43-47) 102.6 Treasury 3%s (40-43) June 102 Treasury 3%s (46-49) 100.4 Treasury 3s (51-55) 98.19 Treasury 3%s (411 101.3 Marriage Licenses John F. Steskal, 47, of Los Angeles, carpenter, and E. Helen Ware, 40, of bIOU Broadway, clerk. • Vincent J. Obergfell. 25, of 1261 Madison avenue, bank teller, and Mary E. Ryan, 25, of 1619 East Vermont street, saleslady. Forrest Lipp, 20, of 531 South Temple avenue, laborer, and Edna Mae Talkington. 18, of 2627 English avenue, housewife. Maurice O. Brown. 24, of 2149 Highland place, foundry worker, and Clara M. Keller, 19, of 2127 Boulevard place, waitress. John T. Spahr, 24, of 990 Middle drive. Woodruff Place, clerk, and Maxine Rosebaum, 21, of 42 North Drexel avenue, clerk. Shirley Hunsacker, 38, of 8149 Evanston street, barber, and Surelda J. Mayhew, 31, of 236 North Summitt street, beautician. Frederick H. Haines, 48, of South Bend, bricklayer, and Mable R. Van Landingham, 59, Oaklandon, housewife. Donald R. Boyer, 21. of 616% Arbor avenue, machinist, and Jaunita L. Spaulding, 18. of* 1610 South Sherman drive, housework. Carl W. Homberg. 38, of Decatur, 111., advertising man, and Imo D. Jones, 35, of Bloomington, 111., clerk.

Contract Bridge

BY WILLIAM E. M’KENNEY Secretary American Bridge League YOU are justified in gambling on losing an extra trick only when the success of your plan will defeat the contract. While most tables arrived at a tour spade contract in the following hand, in the national mixed contract team of four championship, it was interesting to note that only a few tables had the courage to lead away from the king of diamonds. However, the defensive *J-8 VQ-8-2 ♦ 9-6 AK-Q-J-9-6-3 ♦ 7-5 | NORTH | *6-4 VA-J-9- \Z " VK-10-4 lj 5 7-6 ♦ K-5- 5 H 4 0-10-3.2 Dealer 8-7 *A-5-4 | SOUTH! *lO-8-7 * A-K-Q-10-9-3-2 V 5-3 ♦ A-J-4 *2 it play is quite obvious if you will take time to analyze the hand. South, the dealer, opened with one spade. West, who was vulnarable, passed. North bid two clubs and South bid three spades. North bid three no trump and South went to four spades. The normal opening was the ace of hearts, and now West could see that there was a set-up club suit staring him in the face. The bidding had indicated ' that South held a long and strong spade suit—the jack of spades may be the needed entry into dummy. m m * EAST had given a high heart, indicating that he held the king, but it was a little risky to continue with the heart suit as South may

PAGE 13

STOCK MARKET HOLDS FIRM IN QUIETTRADING Decline in Dollar Bullish Influence on General List.

Average Stock Prices

Average of thirty industrials for Monday s high 105.53, low 103 02, last 104.72, off 35. Average of twenty rails 53 88. 52 59. 53 60, up .28. Average of twenty utilities 31 35. 30 65, 3! 05. off .13. Average of forty bonds 87 52 off .06 Average of ten first rails 93 34, off .13. Average of ten second rails 75 37 up .25 Average of ten utilities 94 46, off .13. Average of ten industrials 89.91, off .23. BY ELMER C. WALZER, United Pres* Financial Editor NEW YORK. Aug. 29.—Stocks displayed a firmer tendency as trading opened today on the New York Stock Exchange. Trading was quiet. The recovery followed resumption of the decline in the dollar which was down in terms of European currencies after a sharp rally Monday. Commodities were steadier while bonds also held steady in light turnover. Most early advances were restricted to fractions, although hqre and there a wider gain was noted. Gold mining issues firmed up as did utilities, electrical equipments, farm shares and some of the motors. In the automobile group. Studebaker jumped l l * points to 6 7 on 2,400 shares. General Motors, Chrysler and Auburn, however, registered small losses. United States Steel rose *4 point to 57%, while Bethlehem Steel eased slightly to 414. American Telephone was around the previous close. Coppers ruled steady and so did rails. United Aircraft was up fractionally in its division. Wet stocks were mixed. During the early trading volume was small with prices irregular.

Bank Clearings

INDIANAPOLIS STATEMENT —Aug. 29 Clearings $1,332,000.00 Debits 3,806,000.00 TREASURY STATEMENT —Aug 29Net balance for Aug. 26 $1,200,481.110,26 Misc. int. rects. for day ... 2,433,605 01 Customs rects., mo. to date 27,766,994.33

Bright Spots

Bv United Press Baltimore & Ohio Railroad reports July net. operating income of $4,232,308, compared with net operating income of $1,641,586 in January, 1932. Chicago, Rock Island & Pacific railroad reports July net operating income of $727,073, compared with $475,979 in the same month last year. Chickasha Cotton Oil Company reports for the year ended June 30 a net profit of $332,992, compared with a net loss of $120,926 in the preceding fiscal year. Pierce Arrow Motor Car Company, Knd subsidiaries, quarter ended June 30 reports net profit of $4,770, compared with a net loss of $259,505 in previous quarter and net loss of $878,800 in the same 1932 quarter. Coca-Cola International Corporation declares regular quarterly dividend of $3 on common. MAROONED ON SKY RIDE Passengers Are Prisoners High in Air for Half Hour. By United Press CHICAGO, Aug. 28.—Thirty passengers in two rocket cars of the sky ride at A Century of Progress were marooned for half an hour Monday, moe than 300 feet above grbund, when a cable snapped, checking power on the line. The cars remained suspended in the center of the 2,041 foot cable span between the huge towers while workmen climbed out to repair the broken line. A crowd of nearly 50,000 persons jammed the area below until the cars were taken safely to the loading towers.

trump the next trick. However, if South has another heart West can see only two heart tricks and the ace of clubs. In order to set the contract he realized that a diamond trick must be established and the only hope he had was to find his partner with the queen of diamonds. He now deliberately led a small diamond away from his King, East played the queen and declarer won with the ace. Then, when the declarer led a small club, West won with the ace, cashed his king of diamonds and led a heart which East won with the king, defeating the declarer’s contract one trick. (Copyright, 1933, by NBA Service Ine.) We Buy and Sell Building and Loan Company Shares and Paid-Up Stock. T. P. Burke & Cos. Incorporated SUITE 217-224 CIRCLE TOWER PHONE RILEY 8536

LOANS AT REASONABLE RATES FOE ALL WORTHY PURPOSES The Indianapolis Morris Plan Company Delaware end Ohio Sta. XL IMS

EASILY FINANCED We accept payments four times a year, twice a year, or yearly, on Life Insurance and Retirement Annuities. Ward H. Haeklemait AND ASSOCIATES MatoirhoMtli Mutual Life Insurance Company 300 Continental Bank Bldg.