Indianapolis Times, Volume 45, Number 100, Indianapolis, Marion County, 5 September 1933 — Page 11

SEPT. 5, 1933.

Withdrawal of Armour Plan Surprises Wall Street; Battle Had Just Begun to Get Hot. By RALPH HENDERSHOT . Times Spec lal Financial Writer

The withdrawal of the Armour it Cos. plan for recapitalization came a surprise to many pec.ple in Wall Street. It was withdrawn on the •ve of what promised to be a rather stiff battle between the management and minority stockholders. Startling charges and counter-charges had been made, and the financial district had begun to take much more than a passing interest in the proceedings. that the amount of stock needed by the management to put the plan over was relatively small. It already had prox.f from 28 560 of rhe 45,300 stockholders. Since about 25 per cent

of the stockholders had not voted, it is reasonable to suppose that a moderate amount of pressure would have brought in the required amount. What probably had as much to do with halting the deal as anything else is the law with which the company would have been obliged to comply, making it necessary for it to buy out dissenting minority holders. If those in opposition to the plan had demanded the cash value of their holdings they would have put a big dent in the company's cash box. a a a Many Crimes Committed Afl states might well make some provision for the protection of minority stockholders in the case of reorganization. Many crimes have been committed in the name of reorganization, and there has been very little that dissenting stockholders could do about it. Ways have been found around the provisions making shares nonassessable, and bankers frequently have taken more than their share of the

Ralph Hendershot

spoils when it came to securing new capital. Apparently also, ways are being found to get around the provisions of new truth in securities” law whenever that measure stands in the way of reorganizations. The Fox Film Corp., for instance, did not file report with the federal trade commission, according to official advices, the reason given being that it did not come under the provisions of that measure. ana Fine Point Involved It would seem that a rather fine point was Involved in that reorganization. It offered rights to stockholders, making it possible for them to buy five shares of new stock for each share held after it had reduce f j *he capitalization by giving holders one share of new stock for each six shares originally held. The company raised considerable money in this fashion, but the number of shares was not changed. The stock was nonassessable, so the sale of the new stock to stockholders through the issuance of rights could hardly be called an assessment. The rights to buy the new stock were given away free, but the stock itself would appear to have been sold. The time element probably also entered into the situation. The recapitalization plan had been proposed before the new law went into effect, on July 16, but approval was not given by shareholders until six dais af er the effective date. The rights did not become effective until July 25. and they did not expire until Aug. 14. Actual sale, if it may be regarded as a sale, therefore, took place between July 25 and Aug. 14.

New York Stocks

—Sept. 5 10 30 Prev. Oil*— High. Low. EDT. close. Amrrada ... 46 46 V Atl Rig ... 30% 30% Barnsdall 10% 10% 10% 10% Consol Oil .... ... 15 14% Con? *f Del 19 18% 19 19% Houston mewi.. .. ... ... 6% Houston loldi .. ~ ... 33 32% Indian Rig .. ... ... 3% Mid Corn Pet 15% 15% Ohio Oil 16% 16% 16% 16% Pet Corp ... 13% 13% Phillips Pet 17% 17 17 17% Pure Oil .- ... 11% 11 ! * Koval Dutch ... ... 36 Sbd OH 30% 31 Shell Union ...... . 9 9% Simms Pet .. 11% 11% Skelley Oil ... 9 9 Soc Vac 13% 13% 13% 13% S O of Cal 41 41 S O of Kan 26 SO of N J 41% 41 41 41'/ Sun Oil 46 Texas Corp 27% 27% 27% 27 s * Tidewater Assn. 10% 10 10 10% Un Oil of Cal 21% 21% Steels— Am Roll Mills .. ~ 23Vs 23% Beth Steel ..... X 40% 40% Byers AM a at ... 35 Col Fuel & Iron ft *JL 6% Inland Steel .. ~ ... 37% McKeesport Tin. A .a 94% •Steel A ... ... 47 Rep Iron & S'eel J 17% 17% V S Smelt Z w ... 89% Vanadium ...... A 26% 27 U S Steel ... . 55% 55% U S Ste-l pfd .. A XX ... 94 Youngstn SAT.* ... .• 26% Rails— Atchison ... ... 69' 2 B Or O ...... A <>i 35% 35% Can Pac ... 17 17 Ch A- Ohio . .. 47% 47% 47% 47% Chi 4 Gt W 5 CM& St F 8% .•? C M i St P pfd . ,t H% 14% Chi R Isl 2 2 ... 7 Dela A Hud.. A <3 •-,. Erie .9 4s *w 73 Va ??-• Grt Northern.X X 28°? 28* 111 Central..., .. 4% 44% K C SOU .... * Zm ... ISJa MK A T...J - 2 ... 12% Mo Pac Dfd .Z A 9 • N Y Cent 2 .A 51V *l% N Y Chi 4 St L a .* ... 24 N Y C 4 St l o I 38% N Y New Haven A A 28% 28% N Y Ont & Wes A .A ••• 1; Norfolk A Wes.. v ... 16< Nor Pac 2 .ft 29% Penn R R ..... • •* ’"V 2° Sou d Pac V.'.'tT. 30% *30% *30% 31% Sou R R ....*. 33% 33% 33% 33% Union Pac ... 129 W Marvland A•• ... 13% Auburn .••••••• •• ••• 60 61 ,2 chrvrier 44% 44% 44% Csen Motors .... 34 33% 33% 34 Graham M0t..,. 3'* Hudson >4f 15% 15% w:s : 2 Tankard'V.V.‘sa X 5% 5% Rao ... *4% 4% Studebaker .... 8% 6% <j% 6. Yellow Truck... .. ... 6% 6% Motor Accesa— Bendix . • 18 V }% us? f c s% gs * Wheel* Z 4 Eaton Mfg X 13% 13% Elec Auto Lite., 2 ... 31/ Houd Hershey., .. .a ... *% Mullins Mfg ..., A wo J •- S*ew Warner..w A A* 8 8% Timken K 01... X • Sl 31 a Alaska "jun...— 31% 30% 30% 30% Am Smelt 39% 38% 39% 39 Anaconda 19 If Cal A Hecla . ... 6% Cerro De Pasco 36% 36 2® 35% Granby 11% ... Gt Nor Ore •••.. 13 V 13 % Hon-.estake Min.. 304% 303 % 304% 303 Hot Sound..., 27% In* *per .. ... 7 o*e Int Nickel 20% 20% 20% 20% Isl Creek C0a1... . . .• 24% Kenneoott Cop.. 22% 22% 22% 22% Nevada Cop .... 34% 34% 34% ... Noranda Cop ... 34 Phelps Dodge... 16% 16 16% 16 Tobaccos— Am Snuff ..... .. 49% 49% Am Sum Tob ... ... 20 Am Tob A 88% Am Tobacco B 91 91 % Gen Cigar N .. .. ... 31% Lice A Mvers B 96% 96-* Lorrillard . . . .. 23% 22% Revr.o ds Tob B. 53% 52% 52% 53% Equipments— Allis Chalmers ... 21% Am Car A Fdv .. ... ... 33 Am Loco .. \. 33% Am Mach A Fdy 17% 18% Am Steel Fdy... .. ... 23% 22'. Baid Loco 14 14% Burrough ... 1% Case JI 77% 77 ..% n’ Cater Tract ... .. ... 24% 34% Colgat P Peer 18% Congoieum 23% Elec Stor Ba- 45% Foster Wheeler.. .. ... ... 18% Gen Am Tank C 39% Gen Elec 24% 25% Ingsol Rand ..... ... 63 63% Int Harvester. 41a Kelvinator .. ... 11 Nati Cash Reg .SO 19% 20 20% Proc A Gamble 43% Pullman Inc 53% Simmons Bed .... ... ... 26% Und Eliot West Air B 32% 32% Westingh Elec 46 46% Worthington pm 29% Am "a* For Pwr. 14% 14% 14% 14% Am Pwr A Lit .. .. ... .2% 13 A T A T ... - 126% 127% Am Wat Wks .. 29% 29 29 29% B'OOk tin Gas . •• ... ... 78 Col C.as A Elec 19% 19% Col G A E pfd.. .. ... .. 80% Com ®r Fou •... 3% 3% 3% 3% Ceaol G.S . ..49% 49 49 49% rPr * Lit.. 9% 9% 9% 9% v p A L pfd ... .. .. 18% Int TAT .. IT% 17% 17% 17% Nat Pwr A Lit . 14% 14% 14% 14% North Airjr .. 25 24% 24% 25 Pub Serv N J • • 41 41% £o cl! Edison .. 20% 20% 20% 20% BtdOas 15% 15% 15% 15% ltd Gas Pfd 1% 1V United Corp 8% 8% Un Oas Imp ... 19% 19% Vt Pwr St Lit A. . 5 Western Union.. 68 : 66 66 66 l 4 Goodrich I*’ 16% I?, 1 ’ Goodvear .... 39 38 % 38% 39% U S Rubber .... 19 18% 18% 18% U S Rub pfd 31% Kel Spring 4 4% Amnae ment— Croslev Radio J*R Eox Film 14 14V Loews, me M 33% 33 , 33% Radio Corp ..... S% 9 8V 9S Warner 8r05.... m im i

W all Street.

•Bt Abbott Hoppln 4c Co.J

RK O ~ ... ... 3% Am sugar rr::: *ei 64% Armour (A) 514 53* Beatrice Cream’y 17% Borden Prod .... 27% 27% 27% '27% Cal Packing 07% Can Dry G Ale 3i 31 Coca Cola .. . 0} font Bak (At • ... ”* Corn Prod .. 1. Sl% IS* III; owsum.':::: 227 g 22 Loose Wiles *** %n Natl Biscuit ’' c 7 Punty U ßa r k od :::: 19 ' iß7 S Porto Rico S 44 43% '475/- 2?l* Std Brand.-, 28% 28% 28% 28% United Fruit.... .. . . 66% 66% Retail Stores— ' 2 Best & Cos .. ... - n3/ . Gimbel Bros .... * X T / Glmbel pfd ...... * ’ 23 Or Un Tea .. *** Kresge S S " i£% 12% Kroger Groc .... .. .. 27% 077 Mont Ward .... 25% 25% *25% 25% Penny J C 48 47% 47% 48% Safeway St 2 Ini 2 t*T* Roebuck.. 42% '% *42% 42% w sasct- •* Aviation Corp Douglass Air JL 4 Curtiss Wright.. 3% 3% “3% 3% Curtiss Wright A 6 7„ Nor Am Av ’734 United Aircraft 38% 38% 38% 38 8 Chemicals— Air Reduction... .. ... 105 Allied Cliem 1391'. jis Am Coin Alcohol 65% 64% 64% 64% Col Carbon 641 Com Solvents... 38% 38% *38% 38% Pont 81% 80% 80% 81% Freeport Tex ... 43% 43% 43% 44% Liquid Carb 333. 34^ Math Alkali 38 38 Tex Gulf Sulph. 32 31% 31% 32% Union Carbide 483. U S Ind Alcohol 73 72 73 73% Nat Distil 9334 9434 Drugs— Cotv Inc 514 Drug Inc 46 45% 45% 46 Lambert.. 31% 31% 31% 31% Lehn & Fink 20% 20 Zonite Prod 7 6% Financial— Adams Exp .... 11 10% 10% 11 Allegheny Corp.. ... 6% 6% Chesa Corp .. ... 48 Transamerica .. „ ... 7% 7% Tr Conti Corp.. ... 7 7% Building— Am Radiator.... 16% 16% 16% 16% Gen Asphalt 23 22% Int Cement 34% Johns Manville. 57 56% 56% 57 Libv Owens Gls.. 31% 31 31 31% Otis Elev 18% 18% Ulen Const .... .. 3% 3% Miscelaneous— Am Can w ... 92% 92% Brklvn Man Tr ... 32 Conti Can ~ X. ... 67Vi> Eastman Kodak.. —. ... 84 84% Owens Bottle.. .. 81% Gillette 14% 14% 14% 18% Glidden 18% 18% Gotham Silk .... „ ... 12 13 Indus Ravon ... 71% Inter Rapid Tr 7%

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STOCK SHARES MOVE DOWN IN NAHROWRANGE Volume Is Lighter After Initial Trading; Wet Group Firm.

Average Stock Prices

Average of thirtv Industrials for Friday, high 103 89 low 10186 and last 10).66. up 1.25 Average of twenty rails 52.68. 51.67, 52 56. up 10. Average of twenty utilities 31.05, 30.51, 30.86, unchanged. BY ELMER C. WALZER United Press Financial Editor NEW YORK. Sept. s.—Stocks declined fractions to more than a point in moderately active turnover when trading was resumed today after the Labor day holiday shutdown. ( Volume slackened when the initial orders w'ere out of the way and the list settled down to a narrow rut. Gold mining shares stood out at the opening, with Homestake making a record high at 303%, up %. Dome made a .small gain, as did Alaska Juneau. Gold in London was just under S3O per ounce in American terms, a level which made the dollar worth 68.95 cents. Some of the w T et stocks were firm, with American Commercial Alcohol at 65%, up %. Oils held fairly well, as did utilities and coppers. Steel common dipped to 55%, off %; Chrysler 44%, off %; Montgomery Ward 25%, off %; Pennsylvanai Railroad 37%, off %; General Motors 34, off %; Wool worth 39%, off %; Auburn Auto 60, off %; Allied Chemical 139%, off %; Case 77, off %, and U. S. Industrial Alcohol 72, off 17%.

Bank Clearings

INDIANAPOLIS STATEMENT -—Sept. 5“ Clearings $1,493,000.00 Debits 4,037,000.00 TREASURY STATEMENT —Sept. 5 Net balance for Sept. 1... .$1,201,805 161.88 Tnt. rev. rets, for aay 6,568,579.00 Customs rects., mo. to date 1,255,063.64

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. $0.50: 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. RECOVERY OF RANK DIVIDENDS SOUGHT Washington Receiver Files for $18,937. 'With reopening of county courts todays, the Indianapolis defunct bank situation, which has been dormant for the last two months, again occupied the stage. In circuit court, where several sensational developments were produced in probes by. Judge Earl R. Cox, the auditor’s report of the receivership of Curtis Rottger, former receiver of the City Trust Company, was filed. Cox accepted the report, compiled by Howard W* Painter, auditor, but made no comment. Oren S. Hack, receiver for the defunct Washington Bank and Trust Company, filed, through his attorney, Joseph Collier, a petition for recovery of $18,987 paid in dividends to the Washington Investors’ Corporation. The petition charged that the dividends had been paid illegally between June, 1929, and September, 1930. The petition also pointed out that many directors of the defunct bank also are officers of the investors group, of which Jackiel Joseph, attorney, is receiver.

THE INDIANAPOLIS TIMES

The ABC of the NRA Below are given answers to questions sent to The Times by readers seeking information on problems arising from the National Recovery Act. Answers to other queries will be printed from day to day. If you have problems to which you wish answers, write to The Times, or call Riley 5551, ask for the ABC department, and dictate your question. In giving your query, please state definitely the industry, business, or occupation on which your question is based. It will be answered as soon as possible.

Q—l am an operator at a telephone awitchboard In a hospital. What should my hours and wages be? I am not paid a minimum of $14.50 a week. Hospitals, not engaged in carrying on a trade or industry, do not come within the purview of the NIRA, but there is nothing to prevent any hospital from signing the PRA and conforming to its provisions. A hospital which has signed PRA, would pay minimum wages of $14.50 in Indianapolis. The provisions would not apply, of course, to professional persons, including nurses, in hospitals.

a a a Q —Can a lithographer sign the code for advertisers? The advertisers’ code pays a lower minimum wage.—J. H. A—The fact that a lithographer makes advertising specialties does not permit him to come under that code. He should sign the code for the lithographic industry’. a a a Q —l am a watchmaker in a jeweler’s shop. Is my business classified under the code demanded by the International Jewelers’ Union, which specifies a thirty-five-hour week and minimum wages of S6O a week for experts down to sls for firstyear apprentices?—C. A. L. A—PRA and the temporary agreement for the jewelry industry do not supersede the wage and hour provisions of any union contract, so far as union members are concerned. nan Q—l have been a laundry driver salesman for seventeen years. I have earned as high as $55 a week. In 1929, I never made less than S3O a week and I handle within 75 per cent of as much laundry now as 1929. Drivers are excluded in the NRA. I have five in family and make $14.50 a week. My daughter works in a restaurant for $2 a week. One boy, 14, gets sl.lO. The other one goes to high school. Please advise how even I can just get by without saving something and oblige. F. H. S. A—The minimum wage set by the temporary laundry agreement approved by NRA is at the rate of 25 cents an hour for productive labor. The code makes no specific provision for driver salesmen, but under the PRA they would receive at least the minimum wage of $14.50. However, in signing the agreement the employer agrees not to reduce the wage for employment now in excess of the minimum (notwithstanding that the hours worked in such employment may be hereby reduced) and to increase the pay for such employment by an equitable readjustment of all pay schedules. Therefore, if you were receiving more than $14.50 a week before your employer signed the PRA it is a violation of his agreement to reduce your salary to that minimum. If this is the case, you should report the matter to your local recovery board or Chamber of Commerce for investigation. Under the restaurant code, the minimum hourly rate is 27 cents for a forty-eight-hour week for female employes. The only suggestion that can be offered in this case is that you report any violations, if the employers have signed the PRA and display the blue eagle. a a a Q —How do grocers figure the rate an hour of their regular employes; also their extras? And why do some pay more than others? What is the proper or legal rate an hour for truck drivers in the employ of coal yards, transfer and lumber companies? Also for laborers in the same business? What provision. If any. has been made for regulation of hours and rate an hour for night and day watchmen? It is well known that most watchmen work from 77 to 90 hours a week at a very low rate. C. J. A—The modified code for groceries establishes minimum wages for clerks and managers on a weekly basis. Part-time work must be computed on the basis of number of hours worked, divided by the maximum hours under the code (fortyeight in general), and multiplied by the minimum weekly wage. Thus, for twenty-five hours’ work for a clerk in Indianapolis, take 25/48 of $14.50. Pending adoption of a code, truck drivers under PRA are entitled to a weekly minimum in Indianapolis of $14.50. Under PRA, watchmen receive the same wage for forty-hour maximum week. Laborers for coal merchants receive 40 cents per hour minimum. CONVICT 2 IN THEFT OF GAS FROM AUTO Farm Terms Given Pair Causing Garage Fire. Two men who ignited gasoline they were caught in the act of stealing from the tank of an automobile were convicted of petit larceny today by Charles J. Karabell, municipal judge pro tern. Ardus Brown, 19, of 310 Cleveland street, was fined $5 and costs with a penal farm term of thirty days. Bernard Bradshaw, 20, of 237 South Randolph street, was fined $25 and given a forty-five-day term. However, despite the fact that his sentence was shorter, Brown will be at the farm much longer than Bradshaw. Brown was on probation under a sentence of $lO and six months’ term for a bicycle theft, which was revoked. The old sentence will run concurrently with the one imposed today. Thurman Teets, 20 McLean place, caught Brown and Bradshaw in the garage of his home the night of Aug. 30. As he sought to detain them, a match or cigarett was hurled into gasoline, which had been spilled, and the garage was set afire. THEFT SUSPECT NABBED Negro Boy Captured After Attempt to Force Way Into Home. Charged with slashing a front door screen and then attempting to lift the latch leading to the home of Neal Easterbrook, 2045 North New Jersey street, a 14-year-old Negro boy fled the scene when frightened by neighbors and was captured a short distance away. The boy is under arrest at the juvenile detention home. WIFE BEATING CHARGED Hugh Earll Alleged to Have Slugged Spouse With Cup. Charged with beating his wife on the head with a cup, Hugh Earll, 31, of 641 North Gladstone avenue, was arrested Monday night, charged with drunkennness and assault and battery. Mrs. Earll, 32, was treated at city hospital for bruises and a slight brain concussion.

SOUTH BEND TO DEDICATE PORT Noted Fliers Will Attend Ceremony at New Bendix Field. By United Press SOUTH BEND, Ind., Sept. 5. Famed pilots and officials of the international air races will participate tonight in dedication of the new Bendix municipal airport. Among the fliers who said they would be present are James Doolittle, Roscoe Turner, Tito Falconi, James J. Haizlip, Ernest Udet, Frank Hawks, Herbert E. Manning and Louis A. Yancey. Vincent Bendix, for whom the field is named,, will entertain at his estate, following the ceremonies. Herbert L. Sharlock, president of the South Bend Chamber of Commerce, will preside at the dedication, and Mayor W. R. Hinkle will speak.

Produce Markets

Delivered in Indianapolis prices: Hens, heavy breeds over 4% lbs.. 16c; Leghorns. 7c. Broilers: Colored springers. 1% lbs. up. 10c; springers (Leghorn). 1% lbs. up, 7c; barebacks. 7c; cocks and stags 6c; Leghorn 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 —17c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Sept. I.—Eggs—Market, steady; receipts, 5,258 cases; extra firsts, 16%c; firsts, 15%c; current receipts. 12®; 13%c; dirities, ll%c. Butter —Market, steady; receipts. 17,330 tubs; specials, 22® 23%c; extras, 22%c; extra firsts, 21@21%c; firsts, 18%@19%c; seconds. 17@18c; standards. 21c. Poultry—Market, steady; receipts, 52 trucks; fowls, 10®ll%c; Leghorn broilers. 10c; Leghorns. 8c; ducks, 10%c; geese, B®9c; turkeys, 10®llc; roostters, ll®13c; broilers. 10'/2®12%c. Cheese —Twin, 11%@12c; Longhorns, 12%@12%c. Potatoes—2os; arrivals: 310 on track; shipments, Saturday, 590; Sunday, 90; Monday, 51; supply liberal; market about steady; Wisconsin Round Whites. sl.Bo® 2, mostly $1.90®2; Minnesota Round Whites, $1.80(3:1.95; North Dakota Round Whites, $2.10; Idaho Russet, $2.40®2.45; Triumphs. $2.10(32.20; Colorado Triumphs, . $2.15®2.20; Washington Russets, $2.40; commercial Washington Russets, $2.10. Other Livestock BY UNITED PRESS EAST ST. LOUIS, 111., Sept. s.—Hogs Receipts, 18,000, including 12,000 for government; market, steady to 10c higher than average Monday; weighty kinds slow; early sales steady; pigs and light lights, 10®15c higher; top, $4.50; bulk 170-220 lbs/ [email protected]; 230-260 lbs., $4<g>4.25; 270300 lbs., [email protected]; 140-160 lbs.. $3.90@ 4.35; 110-130 lbs., [email protected]; sows, $2.50® 2.85. Cattle—Receipts, 4,700; calves, 2,300; market opened steady on virtually all classes; native steers, [email protected]: run Included a relatively large number of good steers; western grass steers, [email protected]; native mixed yearlings and heifers, $4.50® 5.85; a few heifers, [email protected]; cows, $2.50 @3; low cutters, $1.25®1.65; top sausage bulls, $2.90; good and choice yealcrs, $6.50; slaughter steers. 550-1,100 lbs., good and choice. [email protected]: common and medium, $3(35.25; 1,1.00-1.500 Ibs., choice, $6.25® 6.75; good, [email protected]; medium, [email protected] Sheep—Receipts, 2,000; market, opened steady to city butchers; packers bidding 25c lower; few choice lambs, $6.50®6.75: packers bidding $6.25 down; . throwouts. $3.50; slaughter ewes, [email protected]: lambs, 90 lbs. down, good and choice. $6®6.75; common and medium, $3.50@6; yearling wethers, 90-110 lbs., good and choice, s4® 5; ewes, 90-150 lbs., good and choice, [email protected]; all weights common and medium, sl®2. FT. WAYNE. Ind.. Sept. s.—Hogs—Receipts. 25 c up; 200-225 lbs., $4.50; 225-250 lbs.. $4.10: 275-300 lbs., $3.85: 300-350 lbs., $3.65: 160-200 lbs., $4.40: 150-160 lbs., $4; 140-150 lbs., $3.80; 130-140 lbs., $3.50; 100130 lbs., $3; roughs, $2.75; stags, $1.75. calves, $7: lambs. $6.75. EAST BUFFALO. N. Y.. Sept. s.—Hogs —Receipts. 2,400, including 800 on government order; weights about 160 active, 5c to 15c above Monday’s average; desirable 170 to 220 lbs., $4.90; 225 to 240 lbs., $4.60®4.75; weight to 260 lbs., $4.50; 100 to 150 lbs., slow, quoted at $3.75@ 4.25. Cattle—Receipts, 200; steady; medium grass heifers, $4.25; cutter cows, $1.60®2.35. Calves—Receipts, 100; vealers, unchanged; better lots mostly $8; few, $8.50. Sheep—Receipts, 100; lambs steady, quality considered; mixed and inbet ween grades [email protected]; ewes and wethers quoted at $7.50; throwouts, [email protected]; inferior lots downwards to $4. CHICAGO FRUIT MARKET By United Press CHICAGO, Sept. s.—Apples—Michigan Wealthies. 90c®$l. Pears—Michigan bushel. [email protected]. Canteloupe—Michigan, 40c®51.25. Carrot*—lllinois. 2®2%c. Egg plant—lllinois. 40®50c. Spinach—Michigan, 60®75c. Cucumbers—Michigan, 60® 75c. Beans—lllinois, 60@75c. Beets—lllinois bunch. l@>l%c. Cabbage—lllinois crate. sl® 1.25. Peppers—lllinois—4o®7sc. Celery—Michigan, 40®60c. Corn—lllinois, 35® 50c. Peaches—lllinois bushel, $2.25®' 2.50. Tomatoes —Michigan, 20®35c (12 quarts). Onion market—California —Yellows bushel. SI iff 1.10; Wisconsin yellows, 75®85c; Indiana—Whites. 90c®$1. DEATH TRIAL DATE SET Suspect in Slaying of Wife to Face Jury on Sept. 25. Dallas Dice, 32-year-old university graduate, charged with the slaying of his wife, was granted a jury trial today in criminal court on motion of his counsel, Eph Inman. Trial will be started Sept. 25. Dice killed his wife by stabbing following a dispute over alimony payments. The tragedy occurred at 1923 North Harding street on April 28 of this year. The slaying followed several appearances in court by the Dices, due to the wife’s efforts to collect alimony. WILSON HOME LOOTED Family in Europe; Valuable Silverware Is Stolen. Undetermined amount of loot, believed to consist chiefly of valuable silverware, has been stolen from the home of William M. Wilson, 3167 North Pennsylvania street, according to a report today to police by a Negro caretaker. The Wilson family is in Europe. The caretaker said the house was entered by breaking a side window. Door of a room in which silverware and other valuables was kept had been removed from the hinges. Child Hurt in Chair Fall Falling from a chair at his home Monday, Martin Bever, 4, of 207 South Davidson street, suffered a severely cut head when he struck a baseboard along the wall. The child was sent to city hospital.

PORKER PRICES GAIN 25 TO 35 CENTSAT PENS Cattle Market Steady to Strong; Lambs Are Unchanged. Porker prices at the Union Stockyards this morning started the week's trading at 25 to 35 cents higher than Saturday's average. Few underweights were selling around 40 to 50 cents up. The bulk, 160 to 250 pounds, sold for $4.40 to $4.50, while weights ranging from 250 to 280 pounds were salable at $4.10 to $4.30. Other classes scaling from 280 to 325 pounds sold at $3.80 to $4; 130 to 160 pounds, $3.50 to $4. Light weights, weighing from 100 to 130 pounds, brought $2.75 to $3.25. Receipts were estimated at 12,000, including 5,000 pigs for government slaughter. Holdovers, 160. Slaughter steers held mostly steady to strong in the cattle market, with few loads selling from $6.60 to $6.90. Other classes remained steady. Bulk of heifers was $4.25 to $6. Cows ranged from $2.50 to $3.50. Vealers were unchanged, with good and choice calves selling from $6.50 to $7. Cattle receipts numbered 1,600; calves, 600. Steady trading featured the lamb market, with mast classes holding at $7 down. Several ewe and wether lambs sold around $7 to $7.25. Receipts were 2,500. Asking on hogs at Chicago was strong to around 10 cents .higher than Saturday’s average. Due to the holiday all receipts were extra heavy. Hogs were estimated at 70,000, including 10,000 direct; holdovers, 1,000. Porkers eligible for government buying amounted to 45,000 pigs. Cattle receipts numbered 19,000; calves, 2,000; market around'steady. Sheep receipts were 28,000; market unchanged. HOGS Aug. Bulk. Top. Receipts. 28. $4.45® 4.50 $4.50 11,000 29. 4.30® 4.35 4.35 14,000 30. 4.20® 4.25 4.25 12.000 31. 4.15® 4.25 4.25 12,000 Sept. 1. 4.15® 4.25 4.25 12,000 2. 4.10® 4.25 4.25 6,000 5. 4.40® 4.50 4.50 12,000 Market, higher. —Light Lights—-(l4o-160) Good and choice $ 3.75® 4.00 —Light Weights—-(l6o-180) Good and choice.... 4.50 (180-200) Good and choice 4 50 —Medium Weights—-(2oo-220) Good and choice.... 4.50 (220-250) Good and choice 4.40® 4.50 —Heavy Weights—-(2so-290) Good and choice 4.00® 4.30 (290-300) Good and choice.... 3.70® 3.90 —Packing Sows—(3so down) Good 3.15® 340 (350 up) Good 3.00® 3.25 (All weights) Medium 2.50® 3.00 —Slaughter Pigs—-(loo-130) Good and choice.... 2.75® 3.25 CATTLE Receipts, 1,600; market, steady. (1,050-1,100) Good and choice * 5.25® 7 00 Common and medium 3.50® 5.25 (1.100-1,500) 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® .300 VEALERS Receipts. 600; market, steady. Good and choioe $ 6.00® 7.00 Medium 4.50® 6.00 Cull and common * 3.00® 4.50 —Calves—-(2so-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 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, 2,500; market, steady. ■ —Lambs— ?!?*• down) Good & choice.® 6.50® 7.25 (90 lbs. down) com. and med. 3.00® 6.50 _ , —Ewes— Good and choice 1.75® 275 Common and medium I.oo® 1.75 Other Livestock BY UNITED PRESS Sept. s.—Hogs—Receipts, 45 00° government; 11 direct; holdover. 1.000; market, steady to 10c higher; 180lbs.. $4.40® 4.50; top. $4.50; 230-300 ibs., $3.65® 4.40; 140-170 is.. $4®.4.40: comdown; packing sows. $2.70®3.25; light lights. 140-160 lbs., good choice. $3.65®.4.40: light weight. 160200 lbs., good and choice. $4.20® 4.50; medium weights. 200-250 ibs.. good and choice. $4.10®4.50: heavy weights. 250-350 lbs., god and choice. $3.35®4.25; packing lbs ” medium and choice. $2.50®3.40; slaughter pigs. 100-130 lbs . good and choice, $2.50® 3.65. Cattle—Receipts. 19,000; calves. 2,000; market, steady and slow; weighty steers scarce; medium to light predominating: early top $7stcokers and feeders strong to 25c higher; 250-450 light steers and heifers slow; best, $7.50; heifers. $6.25. Slaughter cattle and vealers: Steers. 550-900 lbs., good and choice. $5.25®7; 900-1100 lbs., good and choice. $5.25® 7.15; 1100-1300 lbs., good and choice. $5.50®7.25: 1300-1500 lbs., good and choice. $5.75® 7.25: 550-1300 lbs., common and medium. $3®5.75; heifers. 550-750 lbs., good and choice, $5®6.50; common and medium. $2.50@5: cows. good. $3.50® 4 50; common and medium. $2.50® 3.50 k: low cutter and cutters. [email protected]; bulls, yearlings excluded, good beef. $3.25®4; cutter common and medium, $2.25®3.35; vealers good and choice. $6.25®7.50; medium. $5.50 ® 6.25; cull and common. s4® 5.50. Stocker and feeder cattle—Steers. 550-1050 lbs., good and choice. $4.25® 5: common and medium. [email protected]. Sheep—Receipts. 28.000; lambs, opening slow; feeders 25 cents lower; top. $7; bulk, 56.70®6.75; 25 cents lower on westerns; sheep, steadv. Slaughter sheep and lambs—Lambs 90 lbs. down, good and choice. $6.25® 7.10: common and medium. [email protected]; ewes, 90-150 lbs., good and choioe. $1.50® 2.75: all weights, common and medium. 75c® $2. Feeding lambs—so- - 75 lbs., good and choice. 55.85®6.40. LAFAYETTE, Sept. s.—Hog market, 25® 50c higher; 200-240 lbs.. $4.30®4.35; 240260 lbs.. $4.10® 4.20: 260-280 lbs.. $3.90® 4; 280-300 lbs., $3.70®3.80: 300-325 lbs.. $3.60; 150-200 lbs.. 53.75®4.3: 130-150 lbs.. $3.25® 3.50: 100-130 lbs., 52.50®3: roughs. $2.75 down: top calves. $6: top lambs. $6. CLEVELAND. Sept. s.—Cattle—Receipts, 150; market, slow but steadv: choice steers. 750-1,100 lbs.. $6.50® 7.50: good 550-900 lbs., [email protected]: common. $3.75®4.75; top on good. 90-1.200 lbs., weights. 25c lower; good heifers. ss® 5.50: common heifers. $3.25®4. Calves—Receipts, market, strong: all sold earlv with libera! top of $8 50; choice to prime. sß® 8.50. Sheep—Receipts. 2.000; market, slow and 25c lower; all sold; choice wethers. $2.50®3.25; choice spring lambs. $7®7.25: common and culls. s3®s. Hogs—Receipts. 5.000: receipts, include. 3.900; government pigs: market, active and 10c bitcher: heavies. $4.25: choice butchers. 220-250 lbs.. $4.25®4.60: thin and common hogs. 100 lbs. up. $4.35; stags. 51.75: roughs. $2.75: pigs. $3®3.50. PITTSBURGH. Sept. s—Cattle—Receipts. 25: market, steadv. Hogs—Receipts, 500: market, higher: prime heavies. 240-300 lbs.. 54®4.25: heavy mixed. 210-240 lbs.. 54.50® 4.75: mediums. 180-210 lbs.. $4.75® 4.85; heavv vorkers. $4 75® 4.85: light york<*rs. 120-145 lbs., $3.7504: Digs. 90-115 lbs.. I $3®3.25; roughs. $3®3.25. Sheep and lambs —Receipts. 1.000: market, steadv: lambs, good to choice. 90 lbs. down. $7.25® 7.50: medium. 90 lbs. down. s3® 5: medium. 91 lbs. up $5.50® 6.50: sheep, wethers, prime. $3.15®3.25; fair to good $1.75®2.25: ewes, medium to choice. $1®2.50. Calves—Receipts. 100: market, steadv: vealers. good. $7.50®8: medium. $4.50@6: heavy and thin. $2.50® 5.50. By Times Special LOUISVILLE. Ky., Sept. s.—Cattle—Receipts. 175; mostly steady: bulk grass steers and heifers saleable. s3® 4: few better qualities. *4.50: best finished fed offerings saleable. $5.50 or better bulk beef cows. *2® 7 50: low cutters and cutters mostly $1 ® 1.75: sausage bulls mostly $2 50 down- bulk native Stockers and feeders. $2 50 ®4 Calves—Receipts, 200: steady: better grades. $4.50® 5.50; medium ar.d lower grades $4 down: heavy grass calves discounted. Hogs—Reecipts, 1.800: Including around 1 200 pigs on government order: hoes market. 10c higher; 180-2350 lbs.. $4 35: 240-275 lbs.. $2 90: 280 lbs nn. $3.65; 140-175 lbs.. $3 50; 100-135 lbs . $1 80; sows. $2.50: stags, $1.45. Sheep—Receipts. 500: steadv; bulk medium to good truck lambs. s6® 6 50: some choice to $6.75 or better: bucks mostly, ss®s 50: immature light lambs, $2 50®’3.50: fat ewes, sl®2 stock ewes mostly. *6® 7; choice Idaho yearlings. *7.50; plainer ewes down to $4.50. Receipts Monday: cattle, 496; calves. 382: hogs, 2,146; sheep. 1.147. Shipments Monday, cattle. 81; calves, 371: hogs, 142; sheep, 145; pigs and sows on government order Included in hogs receipts, 1,854.

NAMED BISHOP

1 *. ••wax*' \ - < .ft ' V iff i m Wl ' ijfw

Archbishop Edward A. Mooney (above), for the last two years apostolic delegate to Japan, has been named bishop of the Rochester (N. Y.) diocese. He is to assume his new post in the near future. STATEBOSiIffiSS SHOWSUPTURN Value of Imports Rise 65 Per Cent During Last Three Months. Business in Indiana has been decidedly on the upgrade during the last three months, insofar as the consumption of imported goods has been concerned, it was revealed today in a report compiled by the district customs office here. Issued by Wray E. Fleming, collector of customs, the report shows a 65 per cent increase in the value of goods imported into the state during June, July, and August, as compared to the valuation on imports during the same period last year. At the same time, duty collected on the imports during the three months reveals an increase of more than 100 per cent over duties collected last year. Business during the three months brought in duty collections of $31,952.20, compared to $15,359.74 for the same period last year. The value of goods received this year was $132,281 and in 1932 it was $86,055, an increase of $56,226. Foreign shipments to state firms during the three months covered a long list of necessities and luxuries. Included were linens, gloves, china, glassware, porcelain, toys, rugs, machinery, drugs, seedlings, fish, logs, veneer, and fabrics.

The City in Brief

WEDNESDAY EVENTS Kiwani* Club, luncheon. Columbia Club. ~ Purdue Alumni Association, luncheon. .Severin. Lions O'.ub. luncheon. Washington. League for the Hard of Hearing, meeting. 7:30 n. m., Stokes building. American Legion, Twelfth District luncheon. Board of Trade. ■Weekly luncheons of the Indianapolis Lions Club will be resumed Wednesday at the Washington, with this week's program in charge of R. G. Hesseldenz. Mrs. John Downing Johnson opened a short course in parliamentary procedure this morning at the Central Y. W. C. A. A general course in parliamentary law will be offered at the Y. W. starting Sept. 26. A. E. Rust, supervisor in the local offices of the Aetna Life Insurance Company, will be a speaker on the program of the annual Aetna agents convention, which v/ill be in session three days, beginning next Monday, at the Edgewater Beach hotel, Chicago. Criminal Judge Frank P. Baker will be the speaker at the September meeting of the men’s club of Our Lady of Lourdes parish in Irvington Friday night. Dinner will be served at noon Friday at 512 North Illinois street by Alvin P. Hovey W. R. C., followed by drill practice and initiation. SURVEY TO BE MADE ON TRAFFIC LIGHTS Morrissey Assents to Experiment on North Meridian. The safety board today agreed to a suggestion of Chief Mike Morrissey for experimentation this afternoon with the traffic signal lights on North Meridian street from Ohio to St. Clair streets. Traffic surveys are to be made as the lights all the way down the street are turned green at the same time, later turning green for eastwest traffic for a shorter period. The system, Morrissey hopes, will speed up traffic on North Meridian street. Should the results prove unsatisfactory, the lights will be changed back. The beard also asked bids on 100 stop light control boxes, which automatically will turn off stop lights at midnight and restart them at 6 a. m. The improvement, it is estimated, will save the city $l5O a month on its electrical bill. FACES LARCENY CHARGE Russell Vorhies Seized, Held for Cops at Apartment, Held on charges of petit larceny and intoxication, Russell Vorhies, 422 Irvin place, was arrested Monday night at an apartment at 51G North New Jersey street. Vorhies was seized by the janitor’s son. and on his person, police charge, they found property owned by Miss Fay Miller, who lives in the apartment house. In the Air Weather conditions at 9 a. m.: Northeast wind, 2 miles an hour; temperature, 79; barometric pressure, 30.11 at sea level; general conditions, clear, light haze; ceiling, unlimited; visibility, 5 miles.

PAGE 11

GRAIN FUTURES SHOW ADVANCE IN QUIET TRADE Sharp Gain in Sterling Is Strengthening Factor in Early Deals. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Sept. s.—Wheat opened % to % cent higher on the Board of Trade today after the triple holiday. December and May wheat were up % and September was up % cent. Corn followed wheat upward. % to -v coni higher. May corn jumped to % cent higher; September, % and December. % cent. December oats were up % cent and May rose % cent. Provisions were higher. Liverpool Moves Higher While the American markets were closed, the Liverpool wheat market was advancing about 2 cents. There was no special news except reports of a sharp advance in sterling, up 8 cents this morning. This, with the news of decreased world acreage, was thought to have a stimulating interest on the American market. Canada received its first killing frost last night with material damage, according to reports. Frost Hits We tern Area The middle-western states received a moderate amount of moisture over the week-end. but not enough to alter the crop estimates. The corn crop needs plenty of forcing if it is to produce a good yield. The oats market was supported by a shortage. The total estimate was 997.000,000 bushels, as compared with 1,661,000.000 last year. Chicago Futures Range —Sent. 5 WHEAT— Prev. High. Low. 10 30 close. December ... .90% .88% .89 .89% Mav 94% .92% .93 .94 CORN— December ... .547* .53% .53% .53% Mav 60% .59% .59% .60% OATS— December ... .40% .39% .40.40% Mav 43% .42% .43 .43% RYE— December ... .77% .75% .75% .76% Mav 83 .81% .81%- .33 BARLEY— December 57 .55% .56 .57 May ... .62 .62 INDIANAPOLIS WAGON WHEAT City grain elevators are paying 77 cents for No. 2 soft red wneat. Other grades on their merits. Births Boys Glen and Mary Bixler, 2174 Station Fred and Lena Chenuult, 2442 South Dakota. Wayne and Ruth Dayhofl, 3042 Graceland. Delbert and Jennie Sanford, 1809 Wood-, lawn. William and Neva Jordan. 1917 Holloway. Clarence and Marie Mahoney, St. Vincent’s hospital. Richard and Mildred Fooie, St. Vincent’s hospital. Luther and Stella Shrum, 608 Lexington. Muriel and Nettie Backus. 1415% East Washington. George and Mildred O’Haver, 1102 Perry. Charles and Mary Pence, 1238 H.ache. Joseph and Pauline Hooks, 1145 Roache. James and Tempi;, Mays, 2136 Pleasant. John and Eugenia Hayes, 1034 West Twenty-seventh. James and Ruth Caine, 1801 Wade Theodore and Dorothy Nott, 509 Cincinnati. Virgil and Charlolt Willoughby, 17 North California. Girls Clarence and Rose Chambers. 2849 North Keystone. Lyman and Haze! Wmkloy. 47 Berwick. William and Edith GibSoh, 2966 North Denny. Walter and Eva Brown, 1527 Steele. William and Margaret Campbell, 1007 Harlan. Brownie and Mary Wassel, St. Vincent's hospital. Dominick and Margaret Moran. St. Vincent's hospital. Thomas and Marie Leonard, St. Vincent’s hospital. Keith and Catharine Kernodle, 1423 South Illinois. Milton and Jessie Carpenter, 2012 South State. Frank and Ethel Castle. 223 South Noble. James and Lilly Sams, 2019 Columbia. John and Hattie Matthews, 934 Host Seventeenth. Lovell and Artilean Buriss, 949 North Traub. Paul and Della Richmond, 4506 Schofield. Charles and Rosalie Mitchell. 1718 West Minnesota. James and Amy Gamorall, 1236 Richland. Reginald and Letitia Dunlop. 1951 Alvord. Robert and Eula Mclntyre. 2652 Burton. Leslie and Florence Todd, 1162 West Twenty-ninth. Roy and Margaret Von Spreckelson, 2001 Valley. Twins Adolph and Elsie Riesenbeck, St. Vincent’s hospital. Deaths Johanna Sullivan, 73. 1733 Central arterio.sclerosis. David Moifat Kautz. 20. Methodist hosDital. acute cholecystitis. Herman Johnson. 32. city hospital, accidental. Oran Postlewait. 57. 1022 Sterling, cerebral hemorrhage. Fredrick H. Boeldt, 76. 1150 Laurel, cereral hemorrhage. Jack Francis Wallace. 1 year, city hospital. gastro enteritis. Emma K. Tipton. 74. 410 North Beville. chronic myocarditis. Marv Anne Jones. 11 months. 1526 East Nineteenth, acute gastro enteritis. Henrv A. Rippin. 77. 1802 East Washington. acute dilatation of heart. Lottie Burl Sears. 40. 2317 North’Adams, cerebral hemorrhage. Charles A Goldsborough. 73. 610 South Roena, myocarditis. Anna Faber. 83. 558 We*t Wilkins.’ senility. Fredrick J. Harris. 52. 2162 Webb, cardio vascular renal disease. Emma M. Grailtev. 74. 4240 Roland road, pernicious anemia. Charles T. R> ber. 76. 28 North Randolph, uremia. Styles M. Mattingly. 49. St. Vincent’s hos. pital. septicemia. Wiley Russel Allen. 42. city hospital, malaria. Dona Bover King. 39. Methodist hospital, tuberculosis. S. Donovan Randall. 26. 1054 West Thirtieth. acute cardiac dilatation. Margaret Emaline Marlatt 82. *217 East Washington, chronic myocarditis. Helen L. Pars'.ev. 9 months, city hospital, puimonarv infection. John Alimeroth. 59. 626 DeQuinev. cardio vascular renal disease.

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