Indianapolis Times, Volume 45, Number 102, Indianapolis, Marion County, 7 September 1933 — Page 13

Sept. 7, 1933

•Social Credit’ Theory Coming to Fore: Provides f or Issuance of $20,000,000,000 Greenbacks. *Bv RALPH HENDERSHOT

i inn Special Financial Writer Hundreds of economic theories have been propounded during the past two or three years. Few of them ever attracted wide attention, however. Technocracy had quite a run. and now Social Credit" seems to be coming to the fore rather rapidly. Major C H. Douglas, an English engineer economist, is credited with having first worked out the new theory, which is receiving international discussion and which Is being fathered in this country largely by the socalled New Detrfbcracy Group. It us said also that it is being given serious consideration by people close to the administration in

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Washington. Like most economic theories Social Credit is a rather complicated proposition. Essentially, however, it seeks to adjust production and consumption—supply and demand by creating a fluctuating series of discounts in prices. Manufacturers, producers and middlemen would pay and leceive prices sufficient to yield them a reasonable profit. Consumers would receive a discount on all goods purchased at retail, and the government would make up the difference through the issuance of greenbacks. nan Would Balance Supply and Demand Industry, its authors hold, could produce twice as much goods as was manufactured in 1929. Consumption they contend, could be expanded without any difficulty to a point 50 per cent above the 1929 level. The mark at which they propose to shoot is a balance between maximum consumption and production

Ralph llendershot

sufficient to meet such requirements. Production capacity above such requirements would be written off the books of the companies and individuals affected. The government would provide the capital, also through the issuance of greenbacks, to bring consumption to peak proportions. Research conducted by the sponsors of the theory indicates that to bring about the proper balance working hours for labor would have to be reduced to about four hours a day. Machinery and plants would be worked sixteen hours a day. however. The immediate cost of the government to put the theory into operation is estimated at $-20,000,000,000. Os this. $10,000,000,000 would be distributed to all people throughout the United States and the other $lO,000,000.000 would be used to meet price discount costs. It is assumed that after the machinery was properly set up to carry out the idea, the practice would be more or less self-supporting. nun Benefits Have Been Wasted It Is obvious, of course, that the greater part of the benefits to be had from science and invention has been wasted in recent years through the inefficient operation of our economic system. Labor has been idle, plants have been gathering rust and people have gone hungry and poorly clothed and housed. Application of the Social Credit theory might or might not correct this situation, but it is encouraging 10 know that intense concentration is being appli'Mi to the problem. It is equally encouraging to note that the old idea of letting nature take its course is rapidly passing. However, we already have the NRA, and it has not been given a sufficient long trial to determine its effectiveness. It would seem that other theories might well be kept under cover for the next few- months at least.

New York Stocks ““ ““”.B Abbott. Hoppln At Co.I ———————

—Sept. 7. 10 30 Prev. Oils— High. Low E. D. T. Close. Amerada 44 i 44* 44% 44 All Rfg 29 , Consol Oil J 4% }4 ‘2 Barnrrta.l ... 10% 10*2 Coat of Del IS 1 * 18 n 18 8 18% Houston 1 new 1 .... ... 6% Jit Houston 1 old* .... ••33 3 4 30'* Mid Coat Pet ... 14% 14% Ohio Oil 16 15% 15's 15% Pet Corp . .. ... 13% 13% Phillips Pet 17% }7 Pure Oil 11% 11% 11% 11% Roval Dutch .. .. • 34% Sbd Oil 31% 30% 31% 30% Shell Un 9% 9% 9% 9% Simms Pet 11'8 10 8 Skellev Oil ... 9% 9% 9% 9 Sor Vac 13% 13% 13% 13 b S O of Cal 40% 40% 40% 40 S O of Kan ?7 SOof N J 41 40% 40* 40 . Texas Corp ... 27% 27% 27% 27% Tide.voter Assn .... 10 ? b Un Oil of Cal.. .. ... 21 21 Am Roll Mills .. ... 2. 2 22 2 Beth Steel 38% 38% 38% 38 % Bvers AM 32% 33 8 Col Fuel & Iron ••• * Cruc Steel ••• 25 2 Oulf Sts Steely Inland Steel ••• ••• 3 ® Ludium Steel 1* MrKeeeport Tin 90 9. 2 Natl Steel 45 44 b Rep IA- Stl . 17% *7% Rep I A Sll pfd ... ■■■ 37 * V S Smelt 88% 87 81 8a * Vanadium 3 ® f,. Mid Steel ••• **L 2 U S Pipe A- Fdv .. J®, 8 U S Steel. 5*% 52% 52 s 52 b U S Steel Dfd ,* Youngstn S & T .. 24 4 Rails | ee] Atchison ®2 2 Yr Atl Cst Lin*- ”, rj s. fi .. . JJ 8 *.* Can Pac ..... * 16** 16’s lg 1 * Ch A- Ohio 46% 46% 46% 46 2 Chi A- Gt w ;, 2 CUtStP... * ,§3* CM&St Ppd 13 2 13 8 Chi N W “, 8 %,* Chi R Isl 68 ,S 1 Chi R I V"' Pfd 12, Dela A Hud •• jj,. 21 ,. Ort Northern... 27% 27% 2i% -® * 111 Central ?Y 2 Lou A Nash Via. M K A Mo Pac S, 8 Mo Pac pfd -• 'i,*. 47, 2 N Y Cent 48 4.% 4.*, 4, 2 N Y Chi ASt L 23 " “J, 8 N Y Ch A St L 4 N Y New Haven *® 2 N Y Ont A Wes ,ii Norfolk A Wea ‘Si Nor Pac ... • ■ ;' 4 £l, Per.n R R 33 % 35 35 * 35 . s°!! ::: 50% 30% *sOll K K - 7V* Sou R R Pfd .S?, 4 Union Pac ,ij 4 West Marvl i J, 4 Wabash ’ 2 Motors — s „,. Chrysler .45 44% 44 2 44 Oen Motors . .. 32 • 32% 32 * 34 b Graham Mot 34 ,?, 8 Hudson i, 5 j Hupp , c , 35% Mack Truck .. 36*2 36 36 ' Packard 5% 5 5 8 , Reo R gi* Studebaker ® S,* Yellow Truck * Motor Access— Bendix ?' 8 i Bohn Alum ** • ”, Borg Warner • {2," Briggs . 11 Budd Wheel Eaton Mfg if, 2 Hoc Auto Lite 20 21 * Roud Her A I, 8 Murrav Body ‘ * ‘ 4 Stew Warner " Timken ■*" 4 Alaska Tun 30% 30 *?, 29% Am Smelt ..... 37% 3. 2 3. 3B Anaconda ....'. 16- 4 16 s 16 4 1‘ Cal A Hecla 8 Cerro De Pasco “3 4 Granby ~ Gt Nor Ore 13 ‘2 Homestake Min *2i, Home Sound _ i®, 4 Int NUkel . 20% 19 lBs .0% Kennecott Cop.. 21% 21 21% 21 s Noranda Cop ... - ••• % fj," Phe'.ps Dodge .. 15>s 15 15% 14 4 Tobaccos— Am Snuff Am Sum To b If Am Tob lAt Am Tob 9 Gen Cigar • 3 % Lifg A Mvers B ... 95% 95 Lornllfirti 2 Reynolds Tob B 52% 52 >. 52% 52% Iquipmrnts — Alils Chalmers - JJ% Am Car A Fdr 30 29% Am Loco • ■ 3 r a Am Mach A Fdy JJi* Am Steel Fdv .. • •• ••• 21 Bald Loco 13% 13% 13% 13% Burroughs .. • • 16* i®. 2 Case J I •♦% *4 74 .4 2 Cater Tract 22% Colgat Palm Peet *•% Congoleum ■ -2 E’.ec Stor Bat 46% ... Foster Wheeler . .. ... ... 16% Gen Am Tk Car .. 37% 37 Gen Elec 23 s 24 Gen R R Sig 38 Incol Rand 59 Int Bus Mach.. . . • 143% Int Harvester . 39% 39 39% 39% Keivinator 11% Natl Cash Re* 19 19% Proc A Gamble 42 Pullman Inc 51% 50% Simmons Bed 25% Und Elliot 30% 30 West Air B • ■ 30% Westingh Elec .. 44% 43% 43% 44% Worthingtn Pmp 27% Utilities— Am A For Pwr 13% 13% Xm Power A Ut 12 12 ? T £ T 126% 126% Am Wat Wkl 28% Brook Un Gas . .. <6% Cot Gas A Elec 18% 18% 18% 18% Com A Sou * 3% Consol Gas 48 4. 4B 48 Elec Pwr A Lit . 9% 9% Int TAT 16% 16% 16% 16% Nat Pwr A Lit. 14% 14% North Amer .... .. ... 23% 23% Pac GA E 23% 23 Pub Serv NJ.. .. ... 39% 40% So Cal Edison 19% 19% Std Gas 14% Std Gas pfd 16 United Corp 8 8 Un Gas Imp 19% 19% Ut Pr A Lit A' .. ... 4% 4% Western Unton . 65% 64% 64% 65 H u bb*r Firestore 28% 25% 25% 25% Goodrich Goodyear 37 M% 36% 37%

Wall Street-

U S Rubber 18% 18 18 18 U S Rubber pfd 29 Kel Spring ... ... 3% Amusements— Crosley Radio . . 10% Fox Thea 13 Vi 13 Loews Inc ... 31 31% Radio Corp 8% 9% RKO 3% 3% Warner Bros ... 7% 7% Foods— Am Sugar ... 6 3 Armour A ... ... 4% Beatrice Cream. .. ... ... 16% Borden Prod 27% 27% 27% 27% Cana Dry G Ale .. ... ... 29% Coca Coa ... 90 90 Cont Bak A 13 12Va Corn Prod ... 88 88 Crm of Wheat .... ... ... 30% Gen Foods 37% 37% Gold Dust 22V* 22% G W Sugar . . 35% 35% 35% 35 Loose Wiles ... 39% Natl Biscuit ... ... 55% Natl D Prod .... 18% 18 18 18% Puritv Bak 18% 19% S Porto Rico Sug . . 41% 41 Std Brands . . 27% 27% 27% 27% United Fruit ... ... 62% Wrigley 52% Retail Stores— Asso Dry- Goods. .. ... ... 15% Best A ,Cos 29% Gimbel Bros 5% Hahn Dept Sts.. .. ... 6% 6% Jewel Tpa ... . . 1 Kresge S S 14 13% Kroger Groc .. . 26% 26 Macy R H 56% 56% 56% 56% Mav Dept St 14% Mont Ward 24% 23% 23% 24% Penn J C Safeway St ... 50% 51% Sears Roebuck .41% 41 41 40% Woolworth 38% 38% 38% 38% Aviation— Aviation Corp 11% 11% Douglass Air ... 15 13 Curtiss Wright 3% 3% 3% 3% Curtiss Wright A . ... 6% 6% Nor Am Av . 7% 7% United Aircraft. 37% 36% 36% 37% Chemicals — Air Reduction , 4 Allied Chem .. *33% 133% Am Com A1c0... 64% 63% 63% 63% Col Carbon 61% 61 61 60% Com Solvents . 37% 37 37 38 Dupont ... 79% 83 Freeport Tex 43 Liquid Carb ... 32% Math Alkali , 36% Tex Gulf Sulph 30% 30% Union Carbide .... . . 46% 46- 4 U S Ind Alco 70 70 Nat Dist 94% 94 94 94% Drugs— Drug Inc 43% 43% 43% 43% Lambert 30 b 30% 30 * 31 Lehn A Fink • 13 ’ 4 Zonite Prod ••• 6 a o < Financial — _ „ ... Adams Exp 10% 10 10 10_s Allegheny Corp 3.a Chesa Corp ... 45% 46 Transamerica ... 6% 7 Tr Conti Corp 6% Building— . Am Radiator ... 16% 15% 15% 16 Gen Asphalt 21 % Int Cement .. 32% 32% Johns Manville 52% 52% 52% 53 Libbv Owens Gls 30 29% 30 29% Otis Elev 17% 18 Ulen Const ... ... 3% Miscellaneous— Am Bank Note.. .. ... .. 18% Amer Can 90% 90% 90% 91 Anchor Cap 26% 25% 25% 26% Brklvn Man Tr. .. ... .. 31% Cor.tl Can ... 65% 65% Eastman Kodak .. ... ... 81% Owens Bottle ... ... 78% Gillette 14 14 Glidden ... ... 17% Gotham Silk 11% 11% Indus Ravon 68 67 s * 67% 67% Inter Rapid Tr. . .. ... ... 6% Real Silk Hose ... ... 13

Daily Price Index

By l nil < and Vrctte NEW YORK. Sept. 6 Dun * Bradstreet's daily weighted price index of •hirty basic commoduies. compiled for the United Press (1930-1932 average. 1001 Today 100 38 Tuesday 100.60 Week Ago 101.02 Month Ago 103.58 Year Ago 83 30 1933 High (July 19 113.52 1933 Low 1 Jan 201 67.86 (Copyright. 1933. bv Dun & Bradstrcet. Inc.)

Investment Trust Shares

<By Hoppin & Cos.) —Sept. 6 Bid. Ask American Bank Stocks Corp. 1.14 129 American & General Sec. A 575 675 Basic Industry Shares 3 44 .... British Type Inv Tr Sh 58 .68 Collateral Trustee Shares A. 487 5.25 Corporate Trust Shares iold> 223 228 Corporate Trust Shares (newi 2.40 2.45 Cumulative Trust Shares ... 420 .... Diversified Tiust Shares A... 6.25 Diversified Trust Shares B . 787 Diversified Trust Shares C... 320 326 Diversified Trust Shares D... 5.12 5.37 First Insurance Stock Corp ... 150 1.60 First Common Stock Corp .... 107 1.23 Fixed Trust Oil Shares A 8 15 .... Fixed Trust Oil Shares B ... 7.62 Investors Inc 18.21 20.00 Low Priced Shares 632 .... Mass Inv Trust Shares 18.75 20 00 Nation-Wide Securities 3.55 .... North Am Trust Shares (53' .. 186 North Am Tr Shares 155-56 250 255 Petroleum Trust Shares A. .. 1100 14.00 Selected American Shares . . 2.72 Selected Cumulative Shares... 7.05 7.25 Selected Income A- Shares... 360 3.85 Std American Trust Sh A ... 310 3.15 Trust Shares of America.. . 300 3.10 Trustee Std Oil A 5 25 5.50 Trustee Std Oil B 4 00 4.70 U S Electric Lt & Pwr A 13 50 14.00 Universal Trust Shares 300 310 —— *. CHICAGO FRUIT MARKET By l 111 ti and Pres CHICAGO. Sept. 7.—Apples—Michigan Wealthtes bushel. 75c0*1.15. Pears — Michigan bushel. $17502. Canteloupe— Michigan. 4Oco*l2J Carrots—lllinois. 2<>/2%c bunch. Egg plant—lllinois. 250 50c Spinach- Michigan. 75c. Cucumbers Michigan. 50'./85c Beans—lllinois. 400 60c. Beets—lllinois. D, l%e bunch. Cabbage—Wisconsin. sl*i 125 Peppers—lllinois. 50*i75c. Celery Michigan. 40050 c. Corn—lllinois. 20*/ 40c. Peaches—New York bushel. s2*/2.25 Tomatoes—Michigan. 25 0 40c. Onion market—California — vellqj* s bushel $101.15. Wisconsin—Yellows .bushel. 70080 c. Catfornla—White bushel *1.1501.25.

UNEVEN TREND MARKS TRADING IN STOCK MART Oils and Golf Mining Issues Continue Advance in Light Deals.

Average Stock Prices

Average of thirty Industrials for Wednesday, high 100.90. low 97.74. last 100 33. up .11. Average of twenty rails 50 47. 48 49. 49 85. oft .57. Average Os twenty utilities 29 98. 29.05. 29 80. off .08. Average of forty bonds 86.37. off .29. BY ELMER C. WALZER United Press Financial Editor NEW YORK. Sept. 7.—Oils and gold mining issues advanced at the opening on the Stock Exchange today while the remainder of the list was irregularly lower. * Trading was light, featured by one large block — 29.000 shares of Commonwealth & Southern at 3, off M. Oil shares continued under the influence of higher prices for crude oil and gasoline, but gains were small and the group was dull in the early dealings. Mail order shares held well, with Montgomery Ward unchanged at 24% and Sears-Roebuck up % at 41 1 g. Rails were mixed in a narrow range. Motors ruled steady to firm. Farm equipments held around the previous close. Chemicals were firm. Steel common opened at 52 %, oft %, and then sank to around 52. Steel news was about in line w-ith expectations. The Iron Age in reporting operations at 45 per cent, against 47 per cent a week ago, said: “Although new r business in steel is light, there has been an increase in specifications against third quarter contracts closed at pre-code prices. Chrysler has issued specifications for 10,000 tons of steel for shipment prior to Oct. 15 to cover all of its requirements during the life of its present models.”

Bank Clearings v

INDIANAPOLIS STATEMENT —Sept. 7 Clearings $2,001,000.00 Debits 4,609.000.00 TREASURY STATEMENT —Sent. 7 Net balance for Sept. 5. $1,197,714,685.21 Int. Rev. Rents, for dav.. 14.028.173.11 Customs rects. mo. to date 4.195.299.26 New York Curb. (Bv Abbott. Hoppin & Cos.) -—Sept 6 Close.) Close. Alum Cos of Am 74 Lake Shore Mine 45 Am Bev ... 2% Lone Star Gas.. 8% Am Cts P& L B 3% Mount Prod .. . 5% Am Cvan B .... 13% Natl Bellas Hess 3 Am Gs & El. . 27% Niag Hud Pwr.. 8% Am Sup Pwr. . . 4% Pan Am Airways 56 Ark Ntl Pwr A 1% Parker Rstprf.. 64% Ass Gas A 1 Pennroad 3% Atlas Ut Crp... 13% Pioneer Gld Mi 12% Braz Tr & Lt.. 13% St Regis Paper 4% Can Marc 2V Segal Lock % Cent Sts El. . ... 2% Std Oil of Ind 31% Cities Serv ... 3 Std Oil of Kv. 17V* Comm Edison... 54 Stutz 8% Cord 11% Translux 2% El Bnd & Sh.. 23% United Founders 1% Ford of Eng ... 5%' United Gas .... 4 Ford Mot Can . 14 :UnLt & Pwr A 4% Hudson Bav Mn 9% United Verde... 3% Imperial Oil .. 13% Util Pwr & Lt.. 1% Inti Ptrol.. . 18%iWright Hargrves 7% Liberty Bonds By United Press NEW YORK, Sept. 6.—Closing Liberty Bonds: (Decimals Represent 32nds.) Liberty 3%s (32-47) 102.21 Liberty first 4%s (32-47* 102.15 Liberty fourth 4%s (33-38) 102.25 Treasury 4%s (47-52) 110.25 Treasury 4s (44-541 106.24 Treasury 3%s 146-56) 104.30 Treasury 3%s (43-47) 102.5 Treasury 3%s (41 -43>, March 101.29 Treasury 3%s (40-43), June 102.1 Treasury 3%s <46-49) 100 Z Treasury 3s (51-55) 98.26 Treasury 3’4s (41) 101.5

Foreign Exchange

(Bv Abbott, Hoppin & Cos.) —Sept. 6 Close. Sterling. England $4.56% Franc. France 0567% Lira. Italy 0760 Belgas. Belgium 2205 Mark. Germany 3445 Guilder. Holland 5820 Peseta. Spain 1205 Krone. Norway 2297 Krone. Denmark 2042 NEW YORK RAW SUGAR FUTURES —Sept. 6 High. Low. Close. January I u 2 1.60 1.61 March .". 1-67 1.66 1.67 May 1.73 1.72 1.72 July 1.78 1.75 1.77 September 1.52 1.50 1.51 December 1.60 1.58 1.60

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THE INDIANAPOLIS TIMES

The ABC of the NRA B*low arc 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-I am a widow past 60 and live with my son and wife, who both work. I do the housework, no laundry. All I get is what I eat. Am without funds. Under the NRA could I demand any pay’A. H. A—ls classed as an employe, you would be classed as a domestic worker under the NRA. Domestic workers are not covered by any provisions of the NRA..

Q —The code for barbers is forty-eight hours a week at the most, and $14.50 salary minimum. Will that mean in order to display the NRA sien in a one-chair shop which at present does not return the owner and operator $14.50 after expenses are paid, that the owner will have to work only fortv-eight hours and_ take on a helper at a guarantee of $14.50. regardless of the fact that it would make the owner close the shop in a week or two? B. N. A—The code specifies that the owner-operator shall work not more than forty-eight hours a week, but he is not obliged to hire another helper unless this is necessary. If he finds that to take care of his trade he must have a helper he is

Chicago Stocks Bv Abbott. Hoppln & Cos.

TOTAL SALES 36.000 SHARES -—Sept. 6 High. Low. Close. Abbott Lab ■ ■ ■i- 2? 5e Acme Steel Cos 30 30 30 Allied Products 1 ? /a Asbestos Mfg ••• 2 S Bastian-Blessing ••• Bendix Aviation U% 17 17 2 Berghoff Brew Cos 12Vi 12 12V* Sinks Mfg •;ai/„ iq E L Bruce Cos 18 % 18 Butier Bros ■ * ,2 2 2 | 8 Cent 111 Pub Serv pfd.. 24 23 Cent 111 Securities com Cent 111 Securities Dfd •>'? Cent Pub Serv Class A Cent Pub Util Cent & So We5t....... ■ • . -.i,, Cent & So West Dfd . 12‘a 12'at 12 ,a Cent &So West P L pfd . ... Chi & North Western.. 11% 11/* Chi City & Con Rvs.. 3% 4 % g * Chicago Corp pfd..... 25% 25 2 25 8 Chicago Flexible Shaft Chicago Yellow Cab ... .. ••• 4 /4 Cities Service 3 * Club Aluminum ••• 8 Z Coleman Lamp & S. .. ••• .2 Commonwealth Edison.. 55 53 Cord Corp 12 11/8 Electric Household 11 s 11 4 General House Util .... 19% 18/* i Great Lakes Aircraft .. .. ••• 8 Great Lakes Dredge ... 16 ls/ * 10 S/ . Greyhound Corp • ■ x 3/ ,3? Grigsby-Grunow 2 % 2/ 2,* 111 Northern Util Iron Fireman ,2 /z Kalamazoo Stove -• ••• f~ 3 . Keystone Steel 12% 12% 12% Kingsbury Brew Cos .... 11% 11% n .< La Salle Extension Univ . . ... * Lynch Corn Marshall Field 14% 14% 14 4 Mickelberry’s Food Prod 414 3/ * * Middle West Utilities * M West Util 6% pfd A f' 8 Midland United ••• r,, Midland United pfd J,? Muskegon Motor Spec A ... ®, 8 Noblitt-Sparks Ind Inc. 24% 24 2 j, 4 Oshkosh Overall pfd... .. ••• l 1 Prima Cos 24% 23% 24 Public Service N P 31 30/s 30 a Public Service 6% pfd Quaker Oats ••• 144 7 ' 2 Railroad Shares , 8 Reliance International j f Reliance Mfg Cos •• ••• A ’ 2 Signode Stl Strapping pfd 8% Sivver Steel Cast Southern Union Gas.... .. ••• '* So West G& El pfd . . 50% 50 50 Standard Dredging Cos.. .. ... 2 Studebaker Mail (A) ... % % a Sutherland Paper C’o... .. ... 8 Swift &Cos 8 17% 17% Swift Internacional.... 26% 26 26 Thompson JR 8 Utility & Ind 1% Utility & Ind pfd ... 4% Vortex Cup Cos ... 6% Vortex Cup Cos (A) ... 25% Walgreen Cos com 16% Ward Montgomery fA> 75 Wisconsin Bankshares.. .. ... 4% Zenith Radio ... 2%

In the Cotton Markets

—Sept. 6 CHICAGO High Low Close January 9.52 9.30 9.50 March 9.71 9.45 9.71 May 9.90 9.65 9.89 October 9.22 9.00 9.20 December 9.46 9.17 9.42 NEW YORK January 9.44 9.20 9.44 March 9.65 9.38 9.61 Mav 9.82 9.56 9.80 July 9.94 9.69 9.94 October 9.39 9.13 9.35 NEW ORLEANS January 9.40 9.18 9.40 March 9.57 9.36 9.56 Mav 9.80 9.55 9.78 July 9.93 9.78 9.93 October 9.12 8.85 9.12 December 9.35 9.08 9.32

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.

at liberty to hire one part-time if he wishes. He should pay a parttime helper not less than 30.2 cents an hour for each working hour. He is not obliged to pay the full minimum weekly salary for part-time help. He would need to employ such part-time worker only four hours a week. Q —Do the railroads come under the NRA? S. D. H. A—The railroads are not included in the NRA program. Railroad problems are being studied by the office of the federal railroad co-ordinator, Joseph B. Eastman. Q —An employer having signed NRA and endeavoring to live up to it has almost too much business to keep an eight-hour day schedule, although he has hired two extra men. Is an employer in that case guilty and responsible to NRA enforcement bv working nine or ten hours a day five days a week? H. J. H. A—ls you will tell us the nature of this business, we will give you the maximum hour provisions govering it. Employers are allowed to employ workers over the maximum number of hours only in case of emergency. If this rush of business is fairly steady it can hardly be termed an emergency and more men should be hired to take care of it. Q —My son, 18 years old. is employed in a drug store eleven hours a day, seven days a week, at a salary of $7 weekly. The drug store is supposed to be operating under the NRA. and about two weeks' ago. the management forced my son to sign apprenticeship papers, saying that if he did not sign, he would be discharged, since it would be impossible to pay $14.50 a week. Is this correct procedure? H. G. A—Apprentice contracts must have been in operation Aug. 1 to have any status under the NRA. In the above case the drug store obviously is trying to evade provisions of the agreement. This is a violation of the code under Sec. 8 of the NRA regarding evasions and subterfuges. Report violations to the Indianapolis NRA campaign committee. Q —What Is the code for bowling alleys price per game, wages for pin boys, also manager's salary for bowling alleys? A. X. Y. Z. A—No separate code has been approved for bowling alleys, although one has been submitted. Until such time as a code for this industry is approved, bowling alleys displaying the Blue IJagle will operate under the provisions of the NRA. a copy of which may be obtained from the postoffice. Q —What provisions have been' made for unemployed pharmacists? Was a pharmacist's code rejected bv the NRA board? To whom was the pharmacist’s code sent? Why was the pharmacist's code rejected? S. C. A—No employment agency machinery is contemplated under the NRA program. The NRA will consider only codes regulating industries, not classes of employments. Pharmacists are as a rule not engaged in any industrial operation, but are employes of various industries. They will be governed by the codes for the industries by whom they are employed. Q —What is the code for night ■watchmen? J. A. A —See answer to above question. Watchmen are governed by provisions of the codes approved for the industries by whom they are employed. Q —What provision has the NRA made for small home laundries which hire no help and do work at reduced prices? E. M. A. A—There is no provision of the NRA program regarding these establishments, except that if and when they employ any help they are expected to abide by the wage and hour provisions of the laundry code. Q —l am working in a laundry on a steam press as operator, and iron coats and aprons. The laundry sent in Its code as just a linen and towel supply laundry. But it does the same washing as other laundries do. I work twenty-five hours a w'eek and get 28 cents an hour. What should my wages be? I worked three years. G. M. C. A—Your hourly rate already is above the minimum rate specified in the temporary laundry code and you are working fewer than the maximum number of hours specified.

DELAK DEATH HEARING Youthful Driver Held in Traffic Tragedy Given Continuance. Clifford Hanning, 16. of 909 East Thirty-eighth street, charged with manslaughter as the result of a fatal automobile collision Aug. 27, will be given a hearing Sept. 20 in municipal court. Continuance was granted Wednesday afternoon. Hanning was the driver of an automobile which .collided at Fiftysixth and Pennsylvania streets with one in which Mrs. Virginia Fitch of Paoli, Ind., was a passenger. She was killed almost instantly. Births Boys Carl and Ethel Solladine. 723 East Minnesota. ... Charles and Catherine Spurgeon. 813 Udell. Girls Dean and Helen Berry. 218 North Addison. Henry and Esta Bless. 2525 Bellefontame. Deaths William Johnson 42. city hospital, pulmonary tuberculosis. , Emma Wright Martin, 72. 2111 East Michigan, carcinoma ... Florence A. Geedtng 78. 645 North Beville. h.yperthyroiidism. Richard Davis. 31, Long hospital, peritonitis. John Kindrick. 5. Riley hospital broncho pneumonia. Isaac Thompson, 51 city hospital; cerebral hemorrhage. Emma V. Attkisson 58. 309 East Fall Creek boulevard, south drive, acute cardiac dilatation. William Dowell. 74. city hospital, chronic myocarditis. Llovd Houchins 12. city hospital, accidental. William Gansberg 67. 2468 North Meridian. coronary disease. Wiillam Freeman Herron. 4 months Rilev hospital. JntarsseQtion. William Fulton, 73. 1502 Saulcy chronic mvocarditis. Nellie Hughes. 40 city hospital, toxic tsychosls. In the Air Weather conditions at 9 a. m.: West, northwest wind, 3 miles an hour; ceiling, unlimited; visibility, 7 miles; temperature, 81; barometric pressure, 29.97 at sea level; general conditions, scattered clouds.

PORKERS SHOW 15-CENT GAIN AT STOCKYARDS Cattle Market Steady With Indications Lower; Veals Strong. An increase of 15 cents over Wednesday's average was evident in porker prices at the Union Stockyards this morning. The bulk 160 to 250 pounds, sold for $4.50 to $4.60. Heavier classes scaling from 250 to 280 pounds, sold at $4.20 to $4.40. while weights ranging from 280 to 325 pounds were salable at $3.90 to $4.10. Bulk of lighter weights weighing 130 to 150 pounds, sold at $3.65 to $4.13. Other grades from 100 to 130 pounds, sold for $2.90 to $3.40. Receipts were estimated at 6.000, including 1.000 pigs for government use. Holdovers, 161. General trade in the cattle market was slow and draggy. with indications pointing to a lower price trend. Some initial bids ranged from around 15 to 25 cents lower than the previous figures. Bulk of steers was $4.25 to $6.25; heifers, $4 to $5.50, and cows, $2.50 to $3.25. Receipts numbered 1.000. Vealers were strong to 50 cents higher than Wednesday’s advance. Most classes held at $7.50. Top was SB. Lambs ewer strong to around 25 cents higher than the previous session, with ewe and wether lambs selling from $7 to $7.25. Bucks were $1 less. Throwouts sold down to $3.50 and below. Receipts were 1.800. Asking on hogs at Chicago was mostly 10 cents higher lhan Wednesday's average. Early bulk ranged from $4.50 downward. Several classes remained steady. Receipts were estimated at 70,0000, including 8,000 direct. Pigs eligible for government buying amounted to 45,000. Holdovers were 40,000, of which 38,000 were government pigs.

HOGS Aug. Bulk. Top. Receipts. 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 6. 4.35® 4.45 4.50 12.000 7. 4.50® 4.60 4.60 6,000 Market, higher. —Light Lights—-(l4o-160) Good and choice....* 3.90® 4.15 —Light Weights—-(l6o-180) Good and choice.... 4.55 (180-200) Good and choice.... 4.60 —Medium Weights—--1200-220) Good and choice.... 460 (220-250) Good and choice.... 4.50® 4.60 —Heavy Weights—-(2so-290) Good and choice ... 4.10® 4.40 • 290-300) Good and choice.... 3.80® 4.00 —Packing Sows—(3so down) Good 3.25® 3.50 1350 up I Good 3.15® 3.40 (All weights) Medium 2.65®. 3.15 —Slaughter Pigs—-(loo-130) Good and choice.... 2.90® 3.40 CATTLE Receipts, 1,000; 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-7501 Good and choice 5.00® 6.25 Common and medium 3.00® 5.00 (750-9001 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, higher. Good and choice $ 7.00® 8.00 Medium 5.00® 7.00 Cull and. common 3.50® 5.00 —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 Common and medium 3.00® 4.25 (800-1,5001-Good and choice 4.25® 5.50 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,800; market, higher. —Lambs—(9o lbs. down) Good & choice. $ 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 1.000 1.75

Other Livestock BY UNITED PRESS CLEVELAND. Sept. 7. —Cattle—Receipts. 200: market, active and strong with heavy local demand: all sold early; steers and heifers unchanged over yesterday's best prices, with choice steers bringing $7.50 top and good heifers ranging between $5 ifts.so; cows, medium to ood. 52.50f7i3.75: bulls. $2.257,/3.25. Calves—Receipts. 200; market, active and strong: few best vealers bringing $9; too with bulk of receipts selling at $8.50. Sheep—Receipts. 1.800: market, active and strong; best springers sold at $7.50 top: choice spring iambs. s7(l/7.50: common and culls. s3',/5. Hogs—Receipts. 7.000; receipts include 800: good hogs and 6.200 government pigs: few hogs held over as salesmen were asking $4.75: market, active: heavies. $4.2504.30; choice. 220-250 lbs., butchers. $4.65; thin and common hogs. 100 lbs. up. $4.3004.40: pigs. $303.75. PITTSBURGH, Sept. 7.—Cattle—Receipts. 50: market, steady. Hogs—Receipts. 1,800: market, steady to lower: prime heavies. 240-300 ibs.. $404.50: heavy mixed. 210-240 lbs.. $4.750 4.90: mediums. 180-210 lbs.. $4.9005: heavy vorkers. $4.90 05: light vorkers. 120-145 lbs.. $4704.25; pigs. 90-115 lbs.. $303.25; roughs. S3O 3.25. Sheep and lambs—Receipts, 2.000; market, active, steady; lambs, good to choice. 90 lbs. down. $7.2507.50: medium. 90 lbs. down. $305: medium. 91 lbs. up. $5.5006.50; sheep, wethers, prime. $3.15® 3.25: fair to good. $1.7502.25: ewes, medium to choice. $102.50. Calves—Receipts. 200- market, active, steadv: vealers. good. $7,507,7 8; medium. $4.5006; heavy and thin. $2.507,/5 50. EAST ST. LOUIS. 111., Sept. 7.—Hogs— Receipts, 18,000, including 900 through and 100 direct and approximately 10.000 for government. Market, 10015 cents above Wednesday's average; sows strong to 10 cents higher. Bulk 170-220 lbs., $4,350 4.45; top $4.45: 230-250 lbs.. $4.157,, 4.30; 260-300 lbs., $3.8504.10; 140-160 lbs., $3.8504.35; 110-130 lbs., S3O 3.65; sows. $2.500 2.85. Cattle—Receipts, 3,500. Calves —Receipts. 1,200. Market, slow on native and western steers with few early sales light weight natives steady; bidding lower on westerns; vealers 50 cents higher; other classes unchanged; odd lots of native steers. SSO 5.85; mixed yearlings and .heifers, $4 5005.40; cows. $2.500 3; low 'cutters, $1.250 1.50; top sausage bulls, $2 85: good and choice vealers. $7. Slaughter steers. 550-1,100 lbs., good and choice. $5.250 6.75; common and medium. S3O 5.25; 1.100-1.500 lbs., choice. $6.25 0 6.75; good, $5.2506.25; medium. $3.7565 25. SheepReceipts, 1,500. Market, opened active; steadv to strong shippers and small killers; better lambs. $6.750 7; packers not vet buying; indications steady on throwouts and sheep. Lambs. 90 lbs., down, good and choice. $607; common and medium. $3.500 6; yearling wethers. 90-110 lbs., good and choice. s4@s; ewes. 90-150 lbs., good and choice. $1.500 2.75; all weights common and medium. sl®2. EAST BUFFALO N. Y.. Sept. 7.—Hogs— On sale. 9,900, including 8.700 on government order; market rather slow; strong to 10 cents higher; desirable 170 to 220 lbs:, $5; 230 to 260 lbs., $4 507,/4.75; weights below 150 lbs . draggy; 110 to 150 lbs., quoted at $3.6004.2a Cattle—Receipts. 50; market unchanged; cutter cows. $1 60 0 2.35; medium bulls. $2.8503.25. Calves—Receipts. 150; vealers steady; good to choice mostly $8: sparingly, $8.50. Sheep— Receipts. 600; better grade lambs active; strong to 25 cents higher; good to choice ewes and wethers. $1.75; medium kinds and handiweight bucks. *6.500 6.75; tlyowouts dull, mostly $505.50. Bit Timm Sptcinl LOUISVILLE. Ky„ Sept. 7 —Cattle— Receipts. 200. including 40 direct: salable supply light, demand limited: market around steady; bulk common to medium grass steers and hefers. *37,44; very ittle eligible above best dryfeds quotable to around $5.50: bulk beef cows. S2O 2 50: low cutters and cutters. $17,/175: sausage bulls, mostly $2 50 down: bulk native Stockers and feeders. *2.500 3 75: calves, receipts. 200. steady; better grades. $57,/6; medium and lower grades. $4.50 down. Hogs—Receipts. 1.700; including around 1.000 pigs on government order market. 10c higher: 180-235 lbs. $4 45; 240-275 lbs. *4: 280 bs. up. $3.75. 140-175 lbs.. $3.60; 100-135 lbs.. si.9o; sows. $2 60: stags. $1.55 Sheep—Receipts. 500: steady on all classes; bulk better lambs. $67,/6.50; choice eligible. $6 75 or better: bucks mostly SSO 5 50; throwouts. mostly $3.50: light culls. $2 50: fat ewes. *lO 2; stock ewes, mostly *6O 7 a head; choice Idaho yparlings up to *7.50. Receipts Wednesday—Qattle. 246; calves. 213; hogs. 1.794; sheep. 682. Shipments Wednesday—Cattle, 62; calves. 107; hogs, 507: sheep. 524; nog receipts Wednesday include 1,194 pigs on government order.

INDIANA STOCKS AND BONDS

The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying ,*nd selling inquiries or recent transactions. —Sept. 7 Bid. Ask. Beit Rail * Stock Yards com 28 33 Belt Rail fi Stock Yards, pfd 45 50 Cent Ind Pwr pfd 7% 8 12 Citizens Gas Cos pfd 5%> 63 67 Citizens Gas com 15 18 Home T&T Ft Wayne pfd 7 36 40 Ind & Mich Elec Cos pfd 7'-.. 68 7 Ind Gen Service Cos pfd 67.. 64 68 Ind Hydro F.lec Cos 77 24 28 Indpls Gas Cos com 40 44 Indpls Pwr Lt pfd 6% 59 63 IndD'.s Pwr & Lit Dfd 6% r >.. 61 65 No Ind Pub Serv Cos pfd 6',.. 32 36 No Ipd Pub Serv Cos pfd s%*> 29 33 No Ind Pub Serv Cos pfd 7%.. 33 37 Indpls Water Cos pfd 5% 89 93 Ind Pub Serv Cos 6% 35% 39% Public Serv Cos of Ind pfd 7T> 32 36 South Ind Gas El pfd 6%.. 57 61 Terre Haute Elec pfd 6% 25 29 BONDS Citizens Gas Cos 5s 1942 86 90 Home TAW 5%s 1955 97 100 Home T & T W 6s 1943 98 102 Indpls Gas Cos 5s 1952 76 79 Indpls Rvs Inc 1967 30 33 Indpls Water Cos 4%s 1940 ... 98% 101% Indpls Water Cos 4s 1960 ... 95 99 Indpls Water Cos 5s 1970... 94 98 Indpls Water Cos 5%s 1953 100 103 Indpls Water Cos 5%s 1954... 100 103 Kokomo Wat Works 5s 1956... 79 83 Lafayette Tel Cos 5s 1957 83 87 Muncie Water Works 5s 1939 . 85 89 Richmond Water Works 1957. 84 89 Terre Haute Wat Wks 5s 1956. 89 89 Terre Haute Wat Wk 6s 1940 94 99 Traction Terminal Cos 5s 1957. 45 49

The City in Brief

FRIDAY EVENTS Exchange Club, luncheon, Washington. Optimist Club, luncheon. Columbia Club. Sahara Grotto, luncheon. Grotto Club. Reserve Officers Association, luncheon. Board of Trade. Phi Delta Theta, luncheon. Columbia Club. Delta Tau Delta alumni, luncheon. Columbia Club. Kappa Sigma Alumni, luncheon. Washington. Harvard Club, luncheon. Lincoln. Collapsing at East and Pearl streets early Wednesday night, Danny Judd, 52, of 19 North Euclid avenue, was removed to city hospital in an unconscious condition. The 1934 national convention of the International Photo Engravers’ Union of North America, will be held in Indianapolis, according to word received by Henry T. Davis, secretary-manager of the Indianapolis convention bureau. Business meeting of the Tenth Ward Republican Club will be held at 8 Saturday night at the home of Mr. and Mrs. Clyde Jordan, 1215 Pleasant street. A card party will follow. ‘ Indianapolis Theosophical Society will open its season Monday night in the Theosophical rooms, D. A. R. chapter house, 824 North Pennsylvania street. The public is invited. Billy Thom, assistant football coach and wrestling instructor at Indiana university, will be the speaker at the luncheon of the Exchange Club Friday at the Washington. Country store and fish fry sponsored by the Hill Crest Baptist church will be held Friday and Saturday nights at Villa avenue and Pleasant Run boulevard. Knitters of the Real Silk Hosiery Mills will sponsor a dance at 9:30 Saturday night in K. of C. hall, Thirteenth and Delaware Streets. Connie and his band will play.

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; 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 resh 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 CHICAGO. Sept. 7.—Eggs—Market, unsettled. Receipts. 8,417 cases; extra firsts, 17c; firsts, 15%c; current receipts. 12%fa 13%c; dirties, 12c. Butter—Market, unsettled; receipts. 14,333 tubs; specials, 22/f/23%c; extras. 22%c; extra firsts, 21® 21%c; firsts. 18%® 19c: seconds, 17®)7%c: standards, 21c. Poultry—Market, steady and unchanged; receipts. 37 trucks; fowls. 10®ll%c; Leghorn Broilers, 10c; Leghorns, 8c; ducks. 10%c; geese, 8/</9c; turkeys, lOfallc; roosters. 11 <?> 13c: broilers. 11c. Cheese—Twins, 11 ® 12c; Longhorns, 12%/f/12%c. Potatoes—Arrivals, 110; on track. 295; shipments, 530; trading light, market, w’eak; supply heavy; Minnesota and Wisconsin Round White, $1.70' 1.90; unclassified, $1.50/31.65; North Dakota Triumphs. $1.85; Round Whites, partly graded. $1,604/1.65; Idaho Russets. $2.20/3 2.35; Washington Russets, $2.20®2 30; Utah Triumphs. $2®2.10; Colorado Triumphs. $2 05® 2.10.

Other Livestock

BY UNITED PRESS CHICAGO, Sept. 7. Hogs—Receipts, 70,000. including 40,000 government pigs; 8,000 directs; holdovers, 40.000, including 38,000 government pigs; market slow, s mostly steady; 230 lbs., $4.404; 4.50; prac- ! tical top, 54.55; 240-350 lbs., 53.55® 4.40; j 140-170 lbs . $44; 4.40; commercial pigs, ! $3.50 down; packers, $2.75® 3.25. Light ; lights, 140-ISCj? lbs., good and choice, I $3.75® 4.40; light weight. 160-200 lbs., good and choice, $4.25® 4.55; medium weights. 200-250 lbs., good and choice, $4.15®4.60; j heavy weights, 250-350 lbs., good and | choice, $3.35® 4.30. packing sows, 275-550 lbs., good and choice. $2.50®3.40. slaughter pigs, 100-130 lbs., good and choice. 1 $2.50® 3.75. Cattle Receipts, 10,000; calves, 1,500; mostly fed steers in run; early trading limited and undertone steady to weak on shippers and local accounts. Yearly heifers about steady; bulls fully steady; vealers 25 to 50 cents higher than Wednesday: graded steers top, $6.60; mostly $5.25® 6.25. Slaughter cattle and I vealers, steers, 550-900 lbs., good and choice, $5.25®8 85; 900-1100 lbs., good and choice, $5.25® 7; 1100-1300 lbs., good and choice $5.50® 7; 1300-1500 lbs., good and choice, $5.75®.7: 550-1300 lbs., common and medium. s3® 5.75; heifers. 550-750 lbs., good and choice. $5®6.25; common and medium, $2.50®;5; cows, good, $3.35® 4.50; common and medium. $2 40® 3 35: | low cutter and cutter, $1.50®2.40; bulls | lytttrlings excludedl, good ibeeft, $3 25# 4: cutting common and medium, $2 25® 3.35; vealers, good and choice. ; $6.50®8; medium, $5 50®6.50. cull and common. $4®5.50: stocker and feeder cat- | tie, steers, 550-1050 lbs., good and choice. ■ $4 25® 5; common and medium. $3.75® 4.25. Sheep—Receipts. 15.000; lambs active to i25 cents higher; choice. s7® 7.50; native j throw-outs, s4® 5 50; ranging ewes up to | $2.75: 115 lb. bulk. $2 35. Slaughter Sheer 1 and Lambs —Lambs 90 lbs. down, good anl choice. $6.75®7.50. common and medium, ! s4® 6.75; ewes, 90-150 lbs., good and choice, $1.50®3; all weights, common and medium. $.75® 2; feeding lambs, 50-75 lbs., good and choice, $5.85® 6.40. 1 FT WAYNE. Ind. Sept. B—Hogs—loc up; 200-225 lbs.. $4 55: 225-250 lbs. $4.35. 250-375 lbs.. $4.20: 275-300 lbs . $4 10: 300350 lbs.. $3.85. 160-200 lbs.. $4.45; 150-160 lbs.. $3.90: 140-150 lbs.. $3.70: 130-140 lbs. $3 45; 100-130 lbs.. $3; roughs. $2.75: stags. $1.75. Calves—soc up at $7.50; lambs. $6.75 LAFAYETTE. Ind . Sept. 7.—Hog market. 10 to 15c higher. 200-230 lbs . $4 45 230240 lbs.. $4.40; 240-250 lbs.. $4 30; 250-260 lbs.. $4 20 : 280-170 lbs.. $4 10; 270-280 lbs . $4 280-290 lbs.. $3.90 290-300 lbs $3 80: 300-325 lbs $3.70: 170-200 lbs $4 40; 150170 lbs . $3 90; 140-150 lbs. $3 65: 130-140 lbs.. $3 40: 120-130 lbs $3 15: 110-120 lbs . $2.90: 100-110 lbs $2 65; roughs. $2 75 down: calf market strong, too $6.50: lambs steady, too $6 NEW YORK COFFEE FUTURES -—Sept. 6 ' SANTOS High. Low. Close. January -••• March 8.58 8 48 8.18 September • f-*® December 8 93 8 37 8.37 RIO High. Low. Close January 6.03 March 6.02 6 05 6.12 May 6 30 July 6 3* September - ■■■. J*o December 6.00 5.99 5.99

PAGE 13

WHEAT PRICES ARE STEADY IH NARROW RANGE Corn and Oats Fractionally Lower: Initial News Favorable. BY HARMAN W. NICHOLS, United Pres* Staff Correspondent CHICAGO. Sept. 7. Wheat opened on the Board of Trade today off '* to up % cent. September wheat was off '* to 84% cents, December was down % cent to 88 * and May was up % to 92% cents. Corn was off % to % cent. September dropped '* to 47 % cents, December was unchanged at 53 cents, and May dropped % to 59 cents. Soaring Prices Expected Oats were from unchanged to off % cent and May was unchanged. Provisions were up slightly. It is the belief that once businesses are acclimated to the new trend of affairs, wheat prices will soar in harmony with other commodities which already have begun to pursue an upward course. Liverpool Opens Down Liverpool apparently is not taking the situation here seriously, though, for that market opened lower today. Dry and hot weather in certain sections of the country was said by experts to have matured most cf the corn crop to the state where it will resist the first frost, expected around Oct. 5. A shortage of feed grain is expected eventually to send corn up. Oats held firm with Wednesday's stable trend.

Chicago Primary Receipts —Sept. 6 - Bushels Todav Last week Wheat 762.000 1 031 000 Corn 701.000 795.000 Oats *. 370.000 437.000 Chicago Futures Range Sept. 7 10:30. Prev, WHEAT— High. Low. EOT. close. Dec 88% .87% .88% .88% May .92% .97% .92% .92% CORN— Dec 53 .52% .52% .53 May .59 .58% .58% .58% OATS - Dec 39% .39% 39% .39% Mav 42% 42% 42% .42% YE Dec. .* 83% .73 .73 .73% Mav 79% .79% .79% 78% BARLEY— Dec .. .55 .55 CHICAGO CASH GRAIN /?;/ United Press CHICAGO. Sept. 6—Wheat: No. 2 red. 83c; No. 1 hard. 84%c; No. 2 hard. 83%® 84c. Corn —No. 2 mixed. 48%®49c: No. 2 yellow. 48%49‘4c; No 3 yellow. 47%®' 48%c: No. 4 yellow. 47% 'ii 48%c; No. 6 yellow. 44/u 46c; No. 2 white. 49/350%c: No. 6 white. 47’ be; sample grade. 29®32c. Oats—No. 1 white. 37c; No. 2 white. 35% (Tv 36%c: No. 3 white, 33%®35c: No. 4 white. 32%@33%c. Rve—No sales. Timothy—s4.so® 4.75. Bariev—4Bo7 76c. Clover—s 950 11 25. Cash provisions—Lard. $5.45: lose. $4.80; leaf. $4.75; D. S. bellies. $5.87. TOLEDO CASH GRAIN B j/ United /’res* TOLEDO Sept. 6—Grain In elevators, transit billing.! Wheat—No. 2 red. 88(/$ 89c; No. 1 red. I(ZU%c premium. Corn— No 2 yellow. 53%®54%c. Oats—No. 2 white. 39® 40c. Rve—No. 2. 77%®78%C. Track prices. 28%c rate. Wheat—No. t red. 84®85c: No. 2 red 83®84c CornNo 2 yellow. 49® 50c; No. 3 yellow. 48®> 49c. Oats—No. 2 white. 3637 c; No. 3 white 34®36c. Toledo seed close; Clover —Cash. $6.60; October. $6 80; December. $7. Alsike—Cash. $8.50: December. $8.75. ST. LOUIS CASH GRAIN By United I’rc ss ST. LOUIS. Sept. 6.—Wheat—ln fair demand, steady on red and %c lower on hard grades; No. 2 red, 88c; No. 3 red, 86%®87%c; No. 5 red. 84%c; No. 1 hard, 87%c; No 2 mixed, 87®87%c. Corn—ln fair demand, unchanged to lc lower; No. 1 mixed, 80 %c: No. 4 mixed. 48c; No. I yellow, 49c; No. 2 yellow. 49c; No. 3 yellow. 48%c No 4 yellow. 47c; No. 6 yellow, 45c No 2 white 51c: No. 3 white. 50%c. Oats —ln fair demand, unchanged to %c lower: No. 3 white, 36c; sample white. 34c; No. 1 red. 37c; No. 2 red, 36%c: No. 2 red 36®37c: No. 4 cereal white, 32%c. No. 2 rye. 74c. NEW YORK CASH GRAIN By United Pre ss NEW YORK. Sept. B.—No. 2 red wheat, new 11% cents over Chicago December. C I. F. No. 2 hard winter wheat. 13% cents over Chicago December No. 1 hard, nominal. No 1. F. O. B. Galveston, nominal: No. 2 hard, nominal, durums nominal.

Indianapolis Cash Grain

—Sept. 6—■ 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—Firm; No. 1 red. 79080 c; No. J red. 78079 c; No. 2 hard. 78579 c. Corn—Steadv; No. 2 white. 440 46c;|No. 3 white, 43044 c: No. 2 yellow, 41 0 42c; No. 3 yellow, 40 0 41c; No. 2 mixed. 40041 c; No. 3 mixed. 39040 c. Oats —Steady; No. 2 white. 31%®32%c. Hay—Steadv. IF. o. b. country points taking 23%c or less rates to Cincinnati or Louisville). No. 2 timothy. $5.50®6. —lnspections Wheat—No. 1 red. 1 car: No. 2 red. 5 cars; No. 2 mixed. 1 car. Totdl, 7 cars. Corn—No. 2 white, 12 cars; No. 3 white, 9 cars; No. 4 white. 2 cars; No. 6 white. 1 car: No. 2 yellow, 22 cars: No. 3 yellow, 32 cars; No 4 yellow. 7 cars; No. 5 yellow, 2 cars; No 3 mixed, 1 car. Total. 88 cars. Oats- No 2 white, 2 cars; No. 3 white, 3 cars; Sample white, 1 car. Total 8 cars. Rye—No 1. 1 car. Total 1 car. INDIANAPOLIS WAGON WHEAT Citv grain elevators are paying 75 cents for No 2 soft red wheat. Other grades on their merits. JAPAN RECALLS TROOPS Emperor Sanctions Withdrawal of Division From Manchuria. Bit United Bren* TOKIO, Sept. 7.—Emperor Hirohito today sanctioned withdrawal ot the Sixth division of the imperial army from Manchuria, it was announced officially. The Sixth division will return to Japan and will not be replaced. The Sixth participated in the Jehoi province campaign. Announcement of the recall was made after the emperor received Prince Kanin, chief of the general staff, and was taken to indicate that present peace in Manchuria is expected to continue.

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