Indianapolis Times, Volume 45, Number 111, Indianapolis, Marion County, 18 September 1933 — Page 11

SEPT 18. 1933.

Change in Status of Iron and Steel Institute Caused Resignation of Lamont as President. By RALPH HENDERSHOT linn SKtitl Financial Writer

Robert P. Lament's resignation from the presidency of the American Iron and Steel Institute was due to two reasons, in the opinion of important steel men—first, the plans and policies of the industry had been changed by the introduction of the code and. second, the leaders in the business were not especially interested in having a real czar. The institute grew out of the so-called Gary dinners. The late Judge Elbert H. Gary, head of the United States Steel Corporation, was in the habit of inviting several important men in the industry to take dinner with him periodically. It was claimed, and substantiated at least in part,

that prices for the metal were fixed on these occasions. The idea, while practical for the steel men, did not meet with approval outside the trade. It looked too much like violation of the anti-trust laws. Judge Gary headed the institute for several years after its formation. He was able to keep the industry more or less in line. After his death, Charles M. Schwab took over the reins, and things went weil until the depression came along, when many concerns in the business began to cut prices to keep their plants operating. Conditions went from bad to worse until August, 1932, when Lamont was selected to become president and to act in the capacity of czar. a a a Was Disinterested Party No doubt his selection was due, in part at least, to the fact that the former cabinet officer was not a steel man and consequently could act from a strictly disinterested point of view. But it so happens that it

-———.

Ralph Ilcndershot

was this self-same factor which made him of little value after the steel code came into being. The government stepped in as the arbitrator, making the decisions he was formerly called upon to make and laying down the law of fair competition, as he had been supposed to do. Under the NRA program, the American Iron and Steel Institute directors became the administrators of the new code. But the government reserved the right to send three representatives to sit in at all meetings. At the last meeting Kenneth Simpson deputy NRA administrator; Alex Sachs, NRA statistical expert and member of the Brain Trust, and Donald Richberg. the NRA s fiery counsel, took their places around the conference table. BUB Was Cxar Without Country Obviously, under such conditions. Lamont became a czar without a country’. He had no more important decisions on business practice to make because the code had already laid down the rules for the game. His voice probably was not even as important as that of directors of the institute, for they knew far more about the business than he. And, besides. the work of the institute itself had been completely changed. It no longer made the laws; it was supposed to carry out laws already made. And the real powers in the work were the men sent out by the government. *

New York Stocks (By Abbott Kocsln Sc Co.l ■ '

—Sent. 18— _ OUa 10:00 Prev. High. Low. E.DT close. Aerada 44% 44% 44% 45^* Atl Kfg 30‘ t Barnsdull ••• }9,* Consol OU 14% 14% 14 ' 14 a Cont ol Del 19 I|* Houston mew).. .. ... ••• Houston iold) .. .. -► 33 31 4 Mid Cont Pet l* 7 * JJj 4 Ohio OU 17 }®i 4 Phillms Pet ... - ... iff* l?' 4 Pure Oil A••• 12,* 12a. Koval Dutch ... .4 .4* *■ * 2?i* SbO Oil * 3 £i' 3 oai Shell Union... .A < 9 s * .?* Simms Pet ... 11 Skellev OU Soc Vac ... I*4* I; v S Oof Cal 4.. 42 '. 42 . S O of Kan.... .. ••• •■a, J s a * SOOf N J .... 42% 42 3 * 42% 42 . Texas Corn. 29 . 29* Tidewater Assn _ .. 10 _2," Un Oil of Cal... -• ••• 44 4 Am RoiTmills 22% 22% Beth Steel .. 40 sa Bvers AM 33,4 33 a“ Col Fuel Sc Iron .. - ••• * Ludlum Steel ... • •! i! 3 McKeesnort Tin J 5,. Natl Steel .. 47 ,i Hen Iron & Steel .. • ••• 4 4 ReD Ir Sc Stl pfd 4 IT S S melt. . .. TJ S Pipe Sc Fdy • * • iL 4 V S Steel ..... 35 54% 55 oo u S Steel pfd... 90 90 a Youngstn S & T 26% lUils— 68*2 67 3 4 Al * 34% Can Pac I® 3 * 16 ' 4 J^a* CMA: St P ... •• ••• ,Si- • Chi K Isl ga_ Chi R X 2 r, e pfd 78 * Dela & Hud 21% 21% Erie 27 3 * Grt Northern •• •• ••• 42 t ::: ”% ’ Mo Pac oi: N°Y P cent :::: '% 4s 3 , N Y Chi & St L. • ~7 N Y C & St L pi ±L N Y New Haven , 3 Penn R R 37 ' 4 37L * 3 ‘ 4 fV Readine •• # 3 nj 30 Sou r a • 33 4 Ig.i Sou R R pW * 122’Union Pac 31* W a Maryland 111 " I" *% 12 ’* Auburn* - 2% 62% 62% M Sen v Motor.':::::: ::: - 5 ‘ 3 <; Graham Mot ,1,: Hudson 51, BST Packard 3 a Keo .. Studebaker 6 i- 6 i, Yellow Truck 0 * * Motor Access , jg*, Bendix 44 46 Borr Warner 3 ,* Briggs 4 i, 4 51, Budd Wheel ® 4 .?/ F.iton Mlg I?, 4 ij. Elec Auto Lite 4 ‘ * 4 7,. Houd 6 , 4 Mullins Mlg ir. 7^ Hurray Body ' * B i* glow Warner -2 * Timken Mining— ~ Alaska 3 43 Am Smelt ...••• •• Anaconda ‘“s 4 ‘S, 4 Cal At .27* .2 4 Cerro De Pasco. .. 4. 4 42 Granby •• ••• .31 Homestake Min 29 - Howe Sound 30 ,l S l * Ins Coupcr •:, ‘-i. , 2 % Int Nickel ... 21"* 21% 21 . 12. Isl Creek Coal ••• -a:, 5?..* Kennecott Cop 24 . * Noranda Cop 36 • ?2, 4 Phelps Dodge 41 * aJ*l?uT~ 5014 Am Si.uii 195* tS* ™ :::: '*> ®‘ 3 Am Tob* 'b' 92% 92% Gen Cigar 3 = 3 Lrgg & Mvers 99 Lornllard 5 , Reynolds Tob (B 55% 53% Equipments— , : Allis Chalmers 19 * Am Car At Fdy 3 9,* Am Loco ... -v- 33 * Fdr v :: ::: IU Ba and Loco 13% 13% 13% 13 . Burroughs 37,4 17 3 4 2 3 i5Case J 1 83 80 1 Cater Tract * Congoleum 2C. Elec St or Bat 44%, Foster wheelr 18*. 18% Oen Am Tk Car 39 Gen Elec 23% 23% inf Bus Mach 152 151% ; Int Harvester. 43 1 4 42V* Kflvmator }*)* Natl Cash Ree 30% 20% j Proc & Gamble 42% ] Pullman Inc 51 | Simmons Bed , 26' West Air B ... f 31% Westingh Elec. . 46 7 . 467. 46’* 45% Worthington P. 29% Itilitie*— Am At For Pwr _ 12% Am Power At Lit 10*y 10% A T At T 130% Am Wat Wks 27% 26% Brook Un uas . .. ... ... (I Col Gas A: Elec. .. ... i6* If 3 . Com Sc Sou 2% 2% Consol Lias.. . . ■■ ■■■ 44 x 44% Elec Pwr & Lit 8- 8 8 .•* lrn TSc T 16*. 16% I6S IS% Lou O At E A. .. . .. ... .. IS 3 * Nat Pwr A: IJt. 12% 12% 12*j 12'j North Amer 20% 20% Pic OAt E 22% 21% pub Serv N J... 36% 36% 36% 36% So Cal Edison 19 Sid Gas ........ .. ... 13% 12’. Sid Gas pfd 13% United Corp 6% 7 Un Gas Imp 17% I<% Ut Pwr & Lit A. 4% Western Union. .. 68% Rubbers— Fwestone 27 : 27% 27% 26’. Goodrich 16% 16% Goodyear ... 39% 39% 39% 38% t; s Rubber . 19% 18 . 17 S Rub pld ... 32 31% Ke’. Spring 3% 3% ‘icttr ment *— Crcslev Radio .... ... ... 11 Fox Film 18% 18% loews Inc ... 36% 25% Radio Corp • 9% 9% 9% 9% RKO * 2% 3% Wsrtser Bros ... 8% raids Am Sugar *7% 66 7 s Armour A 5% 5% Beatrice Cream 16% Borden Prod ... 26% 26% Cal Packing.... 38% .... Canada Drv O Al .. ... 84 32% Coca Cola *l% Cont Bak A 13% 13 Com Prod ..... .. ... ... 88% era of WbMt.. N SI% 21% 81% 81%

Wall Street-

Gen F00d5. .... .. ... 39 38% Gold Dust .Jk 22% 22% G W Sugar 40% 40% 40% 40% Natl Biscuit 57% Natl D Prod 17% Pet Milk _ ... i Purity Bak X JK ... 19% S Porto Rico Sug a /4‘* 44% 44 Std Brands 2 *>. 28% 28 United Fruit... A Jt. ... 66 Retail Stores— Ass Dry Goods.. .. ... ... 17% Bpst & Cos ....*. .*. 32% 32 Hahn Dept Sts _ ... 6% Jewel Tea Kresge S S .... ... 13% 14% Kroger Groc ... 27 Macy R H 62% 62% 62% 60% Mav Dept St 31% Mont Ward ' 26% 25% Penny J C ... 52 51 Safeway St .... A••• 49% Sears Roebuck. A ... ... 45% Wool worth ft ll *5. 39% 38% Aviation Aviation Corp .. v ... 11% 11% Douglass Air .... a A, 16% 16% Curtiss Wright., i .t, 3% 3 Curtiss Wright A 6 Nor Am Av f% United Aircraft. A ... 39% 38% Chemicals— Air Reduction.. .. ... 107 106 Allied Chem ... .. .i. 141% 140% Am Com Alcohol 71 68% Col Carbon ... ... 64% Com Solvents 40% 40% Du Pont 83% 83 Freeport Tex ... 46 45% 46 44% Liquid Carb 34% 34% Math Alkali 41 Tex Gulf Sulph 36% 35% Union Carbide.. .. ... 49% 49 U S Ind Alcohol 74 Nat Distil 108% Drugs— Cotv Inc 5 5 Drug Inc 49 48% 49 48% Lambert ... 34% Lehn Ar Fink 20% .. . Zonite Prod ... 7 7 Financial— Adams Exp ... 10% Allegheny Corp. 5% Chesa Corp .... ... 45% Transamerica .. .. ... 7% 7% Tr Conti Corp... 2. //* 6% 6% Building— Am Radiator ... .. ... 16 15% Gen Asphalt..— 4* • ... 21% Int Cement ....<• 33 Johns Manville. .. ... 58 57 Libby Owens Ols .. .7. 32% 32% Otis Kiev .i. ... 17 Miscellaneous— Am Bank Note.. .. .... ... 18% Am Can ... 95% Brklyn Man Tr 30 Conti Can ... 67% 67 Eastman Kodak 87% 87% 87% 86% Owens Bottle ... ... 83% Gillette 15 Glidden .. ... ... 18% Gothjim Silk ... a— • ... 11% Indus Rayon ... .. —. 77 75 Intre Rapid Tr. .. 6% Real Silk Hose 14 Scientists Lecture Sponsored A free lecture on Christian Science, sponsored by the Second Church of Christ, Scientist, will be given by John Ellis Sedman, C. S„ Los Angeles, member of the board of lectureship of the mother church, at 8 p. m.. Sept. 28. in Cadle tabernacle.

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STOCKS SURGE HIGHER AS U. S, OOLLARSLUMPS Wet Issues, Mercantile Shares Lead List in Upturn.

Average Stock Prices

Average of thirty Industrials for Saturday, hign 105.58. low 102.76. last 105.32. up 2.69. Average of twenty rails. 50.41. 49 43. 50 38. up 1.10. Average of twenty utilities 28 45 27.51. 28.38, up .63. Average of forty bonds 86.35. off .12. BY ELMER C. WALZER United Press Financial Editor NEW YORK. Sept. 18—Stocks and commodities continued to advance in their respective markets today while the American dollar dropped to 65.66 cents in terms of gold. Stocks rose fractions to more than 2 points, featured by wet issues and mercantile shares. Sugar and silver advanced. Cotton futures ?+- vanced $1 a bale. Gold in the LCndon market hit a recrod high at 131 shillings 9 pence, equivalent to $31.48 in U. S. funds on the basis of sterling at $4.78, the 2:20 p. m. London quotation. At $31.48 per ounce, gold was up $10.48 per ounce over the former treasury price of $20.67, a rise of 52.30 per cent. The gold spurt stimulated further buying in the mining and smelting company shares. In the latter U. S. Smelting made anew top at 102, up 2 points, and American Smelting at 4714, up 1%, and also anew high. Copper shares were in better demand at higher prices. Large blocks of the mining issues appeared on the tickers. Homestake Mining made a record high at 355, up 4. In the wet group, National Distilleries reached 11014, up 2; American Commercial Alcohol 71, up 214; and U. S. Industrial Alcohol 7814; up 114. Buying developed in the mercantile division, where J. C. Penney made anew 1933 top at 52, up 1. R. H. Macy rose to 62, up 114; Sears Roebuck 4614, up 1; Marshall Field 18, up 214 points, and Montgomery Ward 2614, up

Bank Clearings

INDIANAPOLIS STATEMENT —Sept. 18— Clearings $1,794,000.00 Debits 4.494,000.00 TREASURY STATEMENT —Sept. 18 — Net balance for Sept. 15.. .$1,155,051,760.66 Misc. int. rev. rects 3,102.352.82 Customs rects., mo. to dat® 16,175,887.67 New York Curb (By Abbott. Hoppin & Cos.) —Sept. 16Close | Close Alum Cos of Am. 73%|1ntl Petrol 19 Am Cyan (8i... 14 Lake Sh Mines.. 45% Am Gas & El.. 27 1 4IMount Prod 5% Am Sup Pwr... 3%iNatl Bellas Hess 2% Ark Ntl Pr (A) 1% Niag Hud Pwr.. 7% Asso Gas (A).. 1% Pennroad 3% Atlas Ut Coro.. 14 Pioneer G Mines 12% Can Marc 3%!St Regis Paper. 4% Cent Sts El 2 iSt-d Oil of Ind... 33% Cities Serv 2 7 /B'Std Oil of Ky... 17% Com Edison .... 51 Stutz 7% Cord 12 Translux 2% El Bnd & Sh... 12%iUnited Founders 1% Ford of Eng. ... '% ULn Lt & Pwr A 4% Ford Mot Can.. 14%iUnited Verde .. 4 Hudson Bay M 10%iWri Hargraves.. 7 7 / g Imperial Oil 13%] FINNISH CELLIST JOINS I. U. MUSIC FACULTY * Professor Lennart Von Zweyberg on Staff at Extension Center. An added feature of the Indiana university extension division is the addition to the staff of Professor Lennart Von Zweyberg, eminent Finnish cellist of the Indiana university music faculty. He will come to the Indianapolis office, 122 East Michigan street, each Saturday to give private lessons in cello and to conduct an ensemble class. Work under Professor Von Zweyberg will count either as undergraduate or graduate resident credit at the university. He has been a member of the Indiana school of music staff as teacher of cello since 1928. Professor Von Zweyberg, at the completion of a musical education in Europe, did concert work as a soloist with the orchestras of Helsingfors and Riga and taught in the conservatory of Crefeld.

THE INDIANAPOLIS TIMES

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. Sept. 16— Bid. Ask. Beit Ra!! k Stock Yards, com 28 33 Belt Rail & Stock Yards, pfd 45 50 Cent Ind Pwr pfd 7% 8 12 Citizens Gas Cos pfd S7e 63 67 Citizens Gas com 15 18 Home T & T Ft W’ayne pfd 7% 36 40 Ind <fc Mich Elec Cos pfd 1%.. 68 72 Ind Gen Service Cos pfd 699.. 64 68 Ind Hydro Elec Cos 779 24 28 Indpls Gas Cos com 40 44 Indpis Pwr Lt pfd 6% 59 63 Indpls Pwr Lit pfd 6%%.. 61 85 No Ind Pub Serv Cos pfd 6%.. 32 36 No Ind Pub Serv Cos pfd 5%% 29 33 No Ind Pub Serv Cos pfd 774.• 33 37 Indpls Water Cos pfd 5% 89 93 Ind Pub Serv Cos 674 35% 39*.a Public Serv Cos of Ind pfd 794 32 36 South Ind Gas El pfd 6%.. 57 SI Terre Haute Elec pfd 674..,.. 25 29 BONDS Citizens Gas Cos 5s 1942 86 90 Home T & W 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!4 101% Indpls Water Cos 5s 1960 95 99 Indpls Water Cos 5s 1970... 94 98 Indpls Water Cos s*is 1953 100 103 Indpls Water Cos s‘is 1954...100 103 Kokomo Wat Works 5s 1956... 79 83 Lafavette Tel Cos 5s 1957 83 87 Muncle 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

Chicago Stocks ' ' "“By Abbott. Hoppin <fe Cos. 1

TOTAL SALES, 13,000 SHARES —Sept. 16High. Low. Close. Am Pub Serv pfd 5 Asbestos Mfg 4 Assoc Telephone Util Vi Bendix Aviation 18% 18% 18V* Berghoff Brew Cos 13 Borg-Warner 19*4 19 19V* Butler Bros 4Vi Cent Hi Pub Serv pfd.. .. ... 20 Cent Pub Util V T C Vi Cent &So West P L pfd 15 V 4 15 15 Chi & North Western.. 12 11% 12 Chi City & Con Rys % Chicago Corp com < 3 3 A 3% 3% Cities Service 2 7 / 2 3 /* 2% Commonwealth Edison.. 51 50% 51 Cord Corp 12 11% 12 Electric Household 12% Gardner-Denver Cos .... 20 18% 18% General House Util 20% 20 20% Godchaux B 7% Kingsbury Brew Cos ... 11% 11% 11% Lion OH Refining Cos 7% 6% 7% Lynch Corp 44 40Vi 43% Material Service 5Vi 4% 5Vi McQuay-Norris ... 44 Middle West Utilities ... % % % Middle West Util 679 pfd 1% National-Standard 24% Noblitt-Sparks Ind Inc 25% Potter Cos 4% Prima Cos 24 Quaker Oats 136 Sears Roebuck 45% 44% 45% Swift & Cos 18 17% 18 Swift Internacional 26% Thompson JR ...> 8 Utah Radio 2% Walgreen Cos Com 16% 16% 16%

I Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Sept. 16Bid. Ask. American. Bank Stocks Corp.. 1.00 1.10 American & General Sec A ... 5.75 6.75 Basic Industry Shares 3.50 3.58 British Type Inv Tr Sh 55 .65 Collateral Tr Shares (A) 5.00 5.37 Corporate Trust Sh (old) -2.35 2.40 Corporate Trust Shares (new).. 2.50 2.54 Cumulative Tr Shares 4.35 4.40 Diversified Tr Shares (A) 6.25 .... Diversified Trust Shares 81.. 8.12 8.37 Diversified Trust Shares (C).. 3.30 3.35 Diversified Tr Shares (D) 5.25 5.35 First Insurance Stock Corp 1.58 1.68 First Common Stock C’orp.i... 1.07 1.23 Fixed Trust Oil Shares (A)... 8.90 .... Fixed Tr Oil Shares (B) 7.90 Investors Inc 18.95 20.50 Low Priced Shares 6.38 6.48 Mass Inv Trust Shares 19.00 20.62 Nation Wide Securities 355 365 North American Tr Sh (53).. 191 North Amer Tr Sh (55-56) 2.57 2.62 Petroleum Trust Shares (A)...11.00 14.00 Selected American Shares 2.75 Selected Cumulative Shares... 7.00 725 Selected Income Shares 3.75 400 Std American Tr Shares (A)... 3.17 3.23 Trust Shares of America 3.12 318 Trustee Std Oil (A) 5.45 5.60 Trustee Std Oil (B) 4.90 5.10 U S Elec Lt & Pwr (A) 12.25 13.25 Universal Trust Shares 3.12 3.20

In the Cotton Markets

—Sept. 16— CHICAGO To „, High. Low. Close. January 10.10 9.50 10.10 March 10.28 9.95 10.28 May 10.45 10.11 10.45 October 9.80 9.44 9.30 December 10.03 9.68 10.03 NEW YORK •TaHuarv 9.88 9.70 9.88 March 10.05 S.BB 10.05 May 10.21 10.05 10.21 July 10.38 10.26 10.38 October 9.56 9.41 9.56 December 9.79 9.61 9.78 NEW ORLEANS January 9.85 9.73 9.84 March 10.02 9.85 10.02 May 10.17 10.04 10.16 July 10.35 10.22 10.35 October 9.53 9.38 9.40

Retail Coal Prices

The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed. Domestic Prices Indiana No. 4 and No. 6 lump, $5.25; egg. $5; mine run, $4.75, Coke (carload lots)—Egg. nut. $7; pea sizes. $5.25. Semi-Smokeless—Lump. $7.25. Retail Steam Prices Indiana No. s—Lump, $4.50: egg, $4; nut. $3.85: pea, $4.25; mine run. $3.75. West Virginia—Lump. $5.50; egg. $5.25. Kentucky—Egg. $5.25.

Daily Price Index

By United Press NEW YORK. Sept. 16.—Dun & Bradstreet’s dally weighted price index of thirty basic commodities, compiled for the United Press: (1930-1932 average, 190). Today 102.99 Friday 102.26 ; Week ago 93.95 I Month ago 98.69 Year ago ■ 77.99 1933 high (July 18) 113 52 j 1933 low (Jan. 20) 67.86 (Copyrigt, 1933, Dun & Bradstreet, Inc.) Liberty Bonds i NEW YORK. Sept. 16.—Closing Liberty ! Bonds: (Decimals represent 32nds.) [Liberty 3%s < 32-471 102 22 j Liberty first 4%s (32-471 102.30 i Liberty fourth 4%s (33-38) 103 4 Treasury 4%s (47-52) 110 27 | Treasury 4s (44-54) 106.23 Treasury 3%s *46-56) 104.24 Treasury 3%s (43-47) 102.3 | Treasury 3%s <4l-43 • March 101.30 ! Treasury 3%s (40-43) June 102. ; Treasury 3%s 14-6-49> 100.9 I Treasury 3s (51-55) 98.29 Treasury 3Vs (41) 101.14 New York Bank Stocks By Abbott, Hoppin & Cos. Sept. 16— Bid. Ask. Bankers 56% 57% , Brooklyn Trust 105 109 Central Hanover 122% 124% Chase National 25 25% ■ Chemical 36 % 37 I National City 27% • 27% Corn Exchange 49% 50% Continental 14% 15% Empir 19 19% First National 1,320 1,340 Guaranty 289 292 Irving 17% 17% Manhattn & Cos 27% 28 Manufacrurrs 147 148 Nw York Trust 906 92 Public 34% 35% TOWNSEND IN ACCIDENT - - .. • Lieutenant-Governor Escapes Unhurt in Auto Collision. Lieutenant-Governor Clifford Townsend escaped injury, but his car was damaged when it was struck following a collision between two cars at a street intersection at Marion Sunday. Townsend's car was struck by an automobile driven by Mike Salay of South Bend after hitting a car driven by Harry Letsinger of Kokomo. Neither was injured. Smoke Causes Fire Run Fire apparatus was called to the Japanese art store, 27 East Ohio street, Sunday when smoke from an overheated motor was noticed in the street. No loss was reportML

PORKERS SHOW GOOD GAINS IN ACTIVETRADE All Cattle Classes Display Improvement in Price Trend. Hogs advanced 25 cents in active trading at the Union Stockyards this morning. The bulk of sales, on 160 to 270-pound weights, were made at $4.90 to $5. A small lot or two made ,the market at $5.05. Other weights and prices were: 270 to 300 pounds, $4.60 to $4.80; 300 pounds up, $4.30 to $4.50; 130 to 160 pounds. $4.10 to $4.60; 100 to 130 pounds, $3.35 to $3.85. Receipts were estimated at 11,000, including 5,000 pigs for government sale. Holdovers were 71. Improved action was noted in all cattle classes. Beef and heifers sold 15 to 25 cents higher all around. Early stfeer sales were made at $4.50 to $5.75. A few loads of choice heifers brought $6.25. Cows made the market at $2.50 to $3.25. Receipts were 800. Vealers were $1.50 lower at $7.50 down. Calf receipts numbered 600. Sheep showed no change, ewe and wethers selling for $7 to $7.50. Bucks moved at the usual $1 discount. Culls and throwouts sold down to $3.50. Receipts were 1,500. Asking on hogs at Chicago held steady with Saturday’s average. Receipts were estimated at 60,000, including 30,000 government pigs. Holdovers were 2,000. Cattle receipts numbered 12,600; calves, 2,000; market strong to around 25 cents higher. Sheep receipts were 25,000; market unchanged. HOGS Sept. Bulk. Top. Receipts. 11. $4.55® 4.65 $4.70 9,000 12. 4.40%: 4.50 4.50 12,000 13. 4.40® 4.50 4.50 11,000 14. 4.55® 4.65 4.70 11,000 15. 4.80® 4.90 5.00 12,000 16. 4.65® 4.75 4.75 9,000 18. 4.90® 5.00 5.05 11,000 Market, higher. —Light Lights—-(l4o-160) Good and choice..., $4.35® 4.60 —Light Weights—-(l6o-180) Good and choice.... 4.90 (180-200) Good and choice.... 5.00 —Medium Weights—-(2oo-2201 Good and choice 5.00® 5.05 (220-250) Good a.id choice 5.00® 5.05 —Heavy Weights—-(2so-300) Good and choice..., 4.70® 4.95 (290-300) Good and choice.... 4.30® 4.60 —Pecking Sows—(3so down) Good 3-6C® 122 (350 up) Good 3.40® 3.75 (Ail weights) Medium —Slaughter Pigs—-(loo-130) Good and choice.... 3.35@ 3.60 CATTLE Receipts, 800; market, higher. (1,050-1,100) . ... Good and choice $ 5-25® 6.85 Common and medium 3.25® 5.25 (1,100-1,5001 Good and choice - 5.25® aOO Common and medium 4.00® 5.25 —Heiters—-(sso-750) . Good and choice 5.25® 6.25 Common and medium 3.00® 5.25 (750-900) , Good and choice 4.50® ? 92 Common and medium 2.75® 4.50 —Cows— _ Good 3.00® 3.50 Common and medium 122 Low cutter and medium l.OO'fi 2.25 —Bulls (yearlings excluded)— Good (beef) 3.00® 3.50 Cutter, common and medium.. 2.00@ 3.00 VEALERS Receipts. 600; market, steady. Good and choice $ Loo® 7.50 Medium Cull and common 3.00® 5,00 —Calves—-(2so-500) , „ _ . Good and choice 400® Common and medium 2.00® 4.00 —Feeder and Stocker Cattle—-(soo-800) . _ _ .. Good and choice 4.-5® 5.50 Common and medium ..... 3.00@ 4.25 (800-1.500) . „„ . „ Good and choice f.25® 5.50 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,500; market, steady. .—Lambs — _ _ (90 lbs. down) Good & choice.s 6.75® 7.50 (90 lbs. down) Com. and med.. 3.50® 6.75 Good and choice ? Common and medium I.oo® 1.(5 Other Livestock BY UNITED PRES^f PITTSBURGH, Sept. 18.—Hogs—Receipts, 5,000, including 2.000 government pigs, market active and mostly 15c higher, 160210 lbs.. $5.30®5.35; 220-250 lbs. $4.75® 5.25: 250-300 lbs.. $4.50®4 75; 125-1 M lbs.. $4.25© 4.50; pigs. $3.50®3.75: sows. $3®8.50. Cattle —Receipts. 800; slow and lower, bulk good steers. $4,254.75; top lots lightweight steers. $5.15; medium to good heifers. $3.25 ®4 25; cows. $3 downward; bull tops, $160; low cutter cotvs. [email protected]. Calves — Receipts 750; steady; good and choice vealers. 57.50@8: common to medium calves. ss® 7. Sheep—Receipts. 5 000; 25c lower on choice 70-80-lb. lambs; bulk better grades. [email protected]; top, $7.40; medium grades, $4®5.50: cull and common, s3®4; old wethers, $3 downward; ewes, $1®2.50. CLEVELAND. Sept. 18 —Cattle—Receipts, 1 000; market strong and 25c higher in active trading; liberal top of s6.ao: steers, 750-1,100 lbs.. $6.25®7; heifers, $5®5.50; cow's $3.25®3.75; bulls, $2.25® 3.15. Calves —Receipts, 700; market steady and active: choice to prime, sß®9; choice to good. s7® 8- common, s4®6. Sheep—Receipts, 3,300; market slow with weaker undertone; price decline after few steady sales at opening; choice wthrs [email protected]; choice ewes, s2® 3- choice spring lambs, [email protected]; common and cull. s3®s. Hogs—Receipts, 8,500; including 7.000 pigs, and 1,500 good hogs; market steady and string; all sold early; heavies, $4.75; choice butchers, 220-250 lbs., $4.75®5.15; light butchers. 180-210 lbs.. $5.15; stags. $1.75@2; roughs. $2.75®3; pigs. $3.75. LAFAYETTE. Sept. 18.—Hogs—Market, 25c higher; 200-250 lbs.. $4.80®4.85; 250270 lbs.. $4.70®4.75; 270-290 lbs.. $4.50® 4 60' 290-325 lbs.. $4.25'?/ 4.40: 150-200 lbs $4.35®4.75: 130-150 lbs., $3.85®4.10: 100-130 lbs., [email protected]; roughs, $3.25 down; top calves. $6.50; top lams. $6.

- THIS CURIOUS WORLD -

THERE ARE FOOTBALL LEAGUES IN WHICH / / THE PLAYERS WEAR NO SHOES/ THEY ) l DEVELOP GREAT KICKING ACCURACY ( *) and Punt 50 yards w/th ease/ f / M were not painted jn ' ' CURIOUS DESIGNS DURING //A V ” THE WORLD WAR FOR. / r; THE PURPOSE. OF // MAKING THEM LESS ■ / /4H / A VISIBLE, But to fid {BjtwOf 1 jTj \ MAKE IT MORE DIFFICULT B \SA FOR TORPEDO BOATS Y' TO ESTIMATE THE SHIP'S f SP£EO AA/D COOS£. '*** * r "** sD ' vlct *e. THE WORD “camouifage’ ’is incorrectly used in speaking of the weird painting used on ships during the war. Officially, the practice was called “dazzle painting,” and its purpose was to cause miscalculations when enemy gunners attempted to torpedo the ship. Large bow waves sometimes were painted on the hull to give the appearance of terrific speed. -NEXT: Can a snake .poison itself with its own venof%*

NRA 'Chiseling 9 Hearing to Open Here Late Today

Complaints Board to Go Into Session; Four ‘Serious Charges Made. (Continued From Page One)

NRA would be concealed in a velvet glove" in the policy of the national NRA in handling complaints on violations. Wells announced the following order from Johnson: 1. The local compliance board is to assume an attitude that the employer is complying in all notifications of complaints, and that the complaint is due to misunderstanding. , 2. In no event should the fact that a complaint has been filed be made public. 3. Compliance board members should make every effort to effect compliance by conciliation. 4. Employer is not forced to appear at the hearings. The inquiry is not to take on the nature of litigation or inquisition. 5. The board has no power to compel attendance or examination of an employer. The board should keep in mind at all times that the employer is there voluntarily and should govern its attitude toward him accordingly. If the employer takes the attitude of “standing on his constitutional rights, “or refusing to answer questions because they might tend to incriminate him,” the legal representative is to explain to the employer that the NRA is not a statute to be enforced by law, but a voluntary individual covenant. 6. The board has no power to compel a submission of books or papers of a business firm. 7. All decisions of the board must be arrived at by a majority vote. All members of the board should approve or disapprove all decisions individually. 8. If boards finds the employer complained against has been complying, the case should be dropped and a letter of compliance given to the employer to be displayed next to the blue eagle. 9. If the employer refuses to comply after being given a chance, he should be told that the board is forced to recommend removal of the blue eagle. The legal member of the board is to act as secretary, according to Johnson’s instructions. The local board will meet today without announcing the name of the Indianapolis woman to act as a seventh member of the compliance board. Births Boys Robert and Virginia Russell. 1240 Yandes. La Verne and Louise Evans. 1650 North and Irene Harrell. 1002 South Holmes. _ „ . Robert and Mae Robinson, 1621 Holliday. Wesley and Estelle Sinks, 537 South West Wiiliam and Stella Whitloe, 552 Vinton. Beuford and Ruth Hall, Methodist hosPi Jacob and Bertha Goldfarb. Methodtst hospital. Norman and Elaine Jenkins. Methodist hospital. Michael and Mary Worthall, Methodist hospital. „ Earl and Minnie Sigmon. Methodist hospital. Clissold and Carolyn Pierce. Methodist h °Cari a and Daisy Windisch, Methodist h °Emcrson and Georgia Harris. Methodist hospital. Carl and Lucille White. 3632 Crescent. Charles and iylazie Pierson. 1902 North Illinois. Girls * Heriey and Mattie Brinkley, 1617 Columbia. John and Charity Scott. 426 West Sixteenth place. Eliza and Pearl McDade. 1650 Cornell. Robert and Dorothy Lindley. Methodist hospital. William and Margaret Moeller. Methodist hospital. Herald and Inez Setters. Methodist hospital. George and Ruth Herrmann, Methodist hospital. Norman and Vera Quick. 1814 West Forty-sixth. Shelton and Paluine Kent. 1042 North Holmes. Thomas and Sadie Hider, 801 Udell. George and Celia Sherman, 3222 English. Anton and Rose Dugar. 771 North Warman. Deaths Leonard L. Ferris. 88. 4711 Winthrop, pernicious anemia. Elisha M. Hobbs. 74. 2432 Park avenue, chronic interstitial nephritis. Hannah Baker, 82. 2017 Jones, hypostatic pneumonia. Adonis Duckworth. 65, city hospital, broncho pneumonia. Robert L. Mesalam, 3, Methodist hospital, gastro enteritis. Lear Bvers. 63, 429 East Court, cerebral hemorrhage. Joe Green. 66, 1232 North Missouri, chronic myocarditis. Maud Penn Anderson, 51. 1410 Mill, carcinoma. Russell Harrison Mills, 44. 928 North Tuxedo, coronary occlusion. Grace Lena Vittorio. 4 months, 951 South New Jersey, acute gastro entercolit’s. Hyman C'ohen. 55. 1207 Ashland, c.rrhosis of liver. Bertha E. Wetzel. 53, Central Indiana hospital, general paralysis. Sarah Walter. 88, 39 North Euclid, arteriosclerosis. Emory E. Hobbs. 73. 1627 Fletcher, chronic myocarditis.

The City in Brief

Rotary Club, luncheon. Claypool. Gyro Club, luncheon. Spink-Arm*. Architeclural Club, luncheon. Architects and Builders building. American Chemical Society, luncheon. Severin. Universal Club, luncheon. Columbia club. Lawyers' Association, luncheon. Washington. Theta Chi, luncheon. Washington. Young Dentists' Discussion Club, Washington. 8 p. m. Ohio Valley Shippers’ Advisory board. Claypool. all day. Sons of American Revolution luncheon. Spink-Arms. v Major Robert Anderson Relief Corps 44 will meet at 1 Tuesday at 512 North Illinois street. The meeting will be followed by a card party given by the aides. Past Pocahontas Association of Marion county will hold a meeting at 8 tonight in the Denison. All members have been requested to attend, as a drill session will be held. Hoosier Dairy, No. l will hold a meeting Tuesday night at 8 in the hall, 29% North Delaware street. Dr. E. F. Kiser will be the principal speaker at the Gyro Club luncheon Tuesday at the SpinkArms. He will discuss “The Business Man's Heart.” Music will be provided by the quartet from the play, “Heaven Bound,” to be presented at the Murat theater Oct. 21 to 23.

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. sc. 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 iresh country run eggs. 16c. 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.

Other Livestock BY UNITED PRESS

CHICAGO. Sept. 18.—Hogs—Receipts. 60,000, including 30,000 government pigs; directs 15.000, holdovers 2,000; market active and fully steady; 180-230 lbs.. $4.85@5: 240-290 lbs.. $4.25® 4.85; 140-170 lbs. $4.50 @4.85; packing sows, s3.lotr/3.74; light lights. $3.85; light lights. 140-160 lbs., good and choice, [email protected]; lightweights. 160200 lbs., good and choice, $4.50@>5: medium weights, 200-250 lbs., good and choice. $4.60 @o; heavyweights. 250-350 lbs., good and choice. [email protected]; packing sows, 275-550 lbs., medium and choice. $3<@3.85; slaughter pigs. 100-130 lbs., good ana choice, $3.25 @4 25. Cattle—Receipts, 16,000; calves, 2,000; better fed steers and yearlings predominating in run; shipper demands for such kinds narrow; slow and barely steady to weak; steers fully steady; all grades of fed heifers 10® 15c higher; cows strong to 15c higher; bulls and vealers steady; best fed steers, $6.75; weighty steers $6.60; bulk ft tog: slaughter cattle and vealers: Steers. 550-900 lbs., good and choice. [email protected]; ?w)-l.}op ibs . good and choice, [email protected]; 1 ss-5 s -- Kood and choice, $3.75@7; ikT, , iiS, w lbs- good and choice, $5.75@;7; “ s ®' 4 - 30 y. lbs., common and medium, s3@< tk 7 oi;r h l i :s rs - 550 ' 750 lbs. good and choice, $5 25® 6.40; common and medium. $2.75@ 5.25: cows good, [email protected]; common and t e ane' l 9%R 2 @3.75; low cutter and cutter. hL s f° A' 3 o s v5 uTls - ?: eariinas excluded, good beei, $3.25(aA : cutters, common and [email protected], medium, $5.50® 7; culi and com-1 m°n. 44® 5.50; stocker and feeder catt”. steers. 550-1.050 lbs., good and choice $4 25 1; - common and medium $2.50@ 425 Sheep—Reedpts. 25.000; market slow asking steady; no action on lower bids- native lambs heid above- S7.SO. others lower ?ia„ $ Jh)i‘ Ct k ll stead >' oil liberal supply; slaughter sheep and lambs: Lambs 90 lbs down, good and choice. $6.75®"65: con,: mon and medium. s4®7: ewes, 90-150 lbs good and choice. [email protected]: all weights' fnmh 1011 a i ld ‘tedium, 75c® $2; feeding la ™ ds - Jtood and choice, s6® 6.50. * voo YN ?k 18—Hogs—25c up; 97a‘fe-V- 35 --? 25 ' 2 ' 30 lbs. $4.85; 250-27a-300 lbs., $4 55 300-350 $4 50 * 150 lbs i. s4 ; 9o; 15011 0 lbs.° IH2: IS®-}*® lbs., $4.45; 140-150 lbs. $4.25. 130-140 lbs., $3.90; 100-130 lbs 7?: 35 Lambs gh $ S 6.7 $ 5 3 ' 25: Staf?S ' s2 ’ Calves - EAST BUFFALO, Sept. 18 —Hogs Remem S 'ord^ Co, lnc J u , dln(? 8 - 800 governsn L d f ; market active, weights above 160 lbs,, strong to 10c above Friday's average, soijie light weights up more: bulk dewlfJhf 1 <O-250 lbs., $5.25® 5.35; mixed Pl ainer quantity $5.15; 140-150 nSf) Celpts ' ,V 400: steer and yearling trade ” 0S ly Str J )ng t 0 25c higher; better s scoring adiance; bulk good steers and yearlings. [email protected]; fleshy grassers ond shortfeds, ss® 5.85; common steers and heifers, $4.25®4.85; fat cows, [email protected]; 7^| r 7s gra^c 1 31 65® 2.40; medium “bulls, S3 (7-3.25. Calves—Receipts, 600; vealers generally 50c lower; good to choice $8 50; sparingly sg : common and medium. $6.50® 7.50 Sheep—Receipts. 3,500; lambs active steady; good to choice ewes and wethers' SB, medium kinds and fat bucks, $6.75®7throwouts. $5.50@6. * EAST _ST. LOUIS, Sept. 18.—Hogs RerHrert’ 27 d° 0 ?- iv?^ !, i dirig 1 - 700 throu gh and direct and 10.000 for government; market mostly steady; top. $4.85. bulk 170-203 lbs. ?■! 140-160 lbs., $4.15® 4.65- £*!!•, sows mostly I 2 ; 7 ®® 3 - I ®-. Cattle—Receipts, 5,500; calves, 3,G00. market, steady to strong on native and western steers, mixed yearlings and heifers; cows were barly steady; bulls un'hanged; vealers $1 lower; native steers 55.50® 6.15; a few western steers. $4 25 down; mixed yearlings and he.fers, $4 50® 5.75; several cars Oklahoma heifers $3 <0 @3.55; cows, 52.25@3; low cutters, $1 25® choice vealers, $6.50; slaughter steers 5501.65; top sausage bulls. $2.85; good and 1,100 lbs., good and choice. $5.25® 6 50common ana medium, $3®,5.25; 1.100-1 500 lbs., choice. $5.75© 6.50; good. ss© 6; medium, $3.75®5.25. Sheep—Receipts 2 500market few choice lambs to city butchers' $7®7.25: steady to 25c lower; packers talking 25@50c lower; indications steady on throwouts and sheep: lambs, 90 lbs., down, good and choice, [email protected]; common and medium, $3.50®6.50: yearling wethers, 90110 lbs., good and choice, s4®s: ewes, 90150 lbs., good and choice. $1.50© 2.75; all weights common and medium, $lO2. By Timm Special LOUISVILLE. Sept. 18.— Cattle—Receipts, 700; slow and generally steady; trade on most classes sausage bulls, 15@ 25c higher; bulk common to medium grass steer and heifer, s3®4; few $4.25; load 1,155-lb. steers, $4.50; best fed lightweights. ss® 5.50: bulk beef cows, $2®.2.50; few $2.75 and above; low cutters and cutters, $1®1.75; sausage bulls. $2.90 down; common and medium native Stockers and feeders, [email protected]; part load western beef bred stock calves, $4 10; calves, receipts 750. including load or so stock calves: vealers. market not established; earlv Indications unevenly lower than last Friday: most buyers talking $5.50 down, and sellers generally holding for around $6 top. Hogs—Receipts, 2.600. including around 900 pigs on government order; 15c higher: 180-235 lbs.: $4 80; 240-275 lbs. $4.35; 280 lbs. up. $4.10; 140-175 lbs., $3.95; 80-135 lbs.. $2 25; sows. $2.95; stags. $1.90. Shee—Receipts. 1,500, including around 900 stock ewes: generally'steady on all classes; bulk medium to good lambs. 56®3.50; choice eligible $7; bucks mostly ss® 5 50: throwouts. $3.59®4; fat ewes. sl®2; stock ewes, moderatelv active: better kinds mostly so®7. Receipts Saturday—Cattle, 233; cp.lves, 718; hogs. 1.368, and sheep, 151. Shipments Saturday—Cattle. 28; calves. 753: hogs. 142. and sheep. 192. Hog receipts Saturday included 893 pigs on government order.

Abbott, Hoppin & Company 203 Continental Bank Building • RI ley 5491 ' Indianapolis New York Pittsburgh Chicago MEMBERS: New York Stock Exchange New York Cotton Exchange Chicago Curb Exchange New York Curb Exchange Chicago Board of Trade New York Produce Exchange Chicago Stock Exchange Commodity Exchange, Inc., N. Y. New York Coffee and Sugar Exchange Co-Managers James T. Hamill Kenneth K. Woolling

PAGE 11

WHEAT TOPS $1 FOR FIRST TIME IN SIXWEEKS Inflation Talk Is Prime Factor in Buying Movement. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. Sept. 18— May wheat reached the dollar goal today, the first time in more than half a dozen weeks. May wheat, at the opening, stood at sl.Ol to sl.Ol up l a s cents from Saturday’s finish. September was up l’i cents and December up 1 cent, j Inflation talk, brokers and oper- | ators believed, had ceased to be just I talk and had become a reality. This I inflation also was expected to offset increased hedging pressure. Corn was unchanged to % cent higher and oats was up % cent. The week opened with inflation talk the paramount factor iri the markets. The trade has made up its mind that inflation, if not already here, soon will be here. Sterling was higher, though the Liverpool wheat market failed to follow the local rise in prices Saturday. The corn crop is less than it was a year ago and a killing frost early could do much damage, although warmer weather is predicted for tha present. Oats is nearest to a failure in recent years, and therefore has a strong undertone. Winnipeg’s crop of this grain also is small. Chicago Primary Receipts —Sept. 16Bushels. . Today. Last week. Wheat .*,,,** 1,091,000 841,009 Com 719.000 600,000 Oats 330,000 432,000 Chicago Futures Range —Sept. 18— WHEAT— prey. „ , High. Low. 10:30 close. Deccber 96% .95% .96% 95% May 1.01% 1.00 1.00% .99% CORN— December ... .56% .55% .55% .55% May 63 .61% .62 .62% OATS— December .42% .41% .42% .42 Mav .46 .45% .45% .45% RYE— December ... .78% .77% .78% .77% Mav 84% .83% .84% .83% BARLEY— December ... .59 .58% .59 .58 May 64% .64% .64% .63% TOLEDO CASH GRAIN By United Press TOLEDO. Sept. 16.—Grain closer (grain in elevators transit billingi. Wheat—No. 2 red, 934/94c; No. i red, l®l%c premium. Corn—No. 2 yellow, 56®57c. Oats —No. 2 white. 41®42c. Rye—No. 2. 80%® 81%c. Track prices. 28%c rate. WheatNo. 1 red. 89%®90%c; No. 2 red, 88%® 89%c. Corn—No. 2 yellow, 51%@52%c: No. 3 yellow, 50%®51%c. Oats—No. 2 white, 384/39c; No. 3 white, 36%®38%c. Seed close: Clover —Cash. $6.358; Oct., 56.458; Dec.. $6.608. Alsike—Cash. $8; Dec., $8.25.

Indianapolis Cash Grain

—Sept. 16— The bids for car lots of grain at tha call of the Indianapolis Board of Trade, f. o. b„ shipping point, basis 41% New York rate, were: Wheat—Strong, No. I red, 85%(<i86%c; No. 2 red, 84%@85%c; No. 2 hard. 84%®85%c. Corn—Strong; No. 2 white, 46%@47c: No. 3 white, 44%©! 45c; No. 2 yellow, 43%<®44%c; No. 3 yellow, 42%@43%c: No. 2 mixed, 42%@43%c; No. 3 mixed. 41 %®42c. Oats—Strong; No, 2 white. 33%@34%c; No. 3 white, 33 %C. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 82 cent* for No. 2 soft red wheat. Other grade* on their merits. CHICAGO FRUIT MARKET By United Press CHICAGO. Sept. 18.—Apples—Michigan Wealthies. bushel, 90c@$l. Pears—Mich* igan. bushel. [email protected]. Cantaloupe Michigan. 50c®$1. Carrots—lllinois, 2%@>3c. Eggplant—lllinois, 40@50c. Spinach— Ohio. 50® 60c. Cucumbers—Michigan, 500 ®.s 1. Beans—lllinois green, 75*© $1.25. Cabage—Wisconsin. $1®1.40. Peppers—lllinois, 35®.75c. Celery—Michigan, 25© 50c. Corn—lllinois, 20® 50c. Peaches—New York, bushel. $1.75@2. Tomatoes—Michigan, 25©35c. Onion market: California, yellows, bushel, 855 c; Wisconsin, yellows, bushel. 65®70c; Indiana, yellows, bushel, 65@70c; Minnesota, whites, bushel. 90c <Bl. NEW MANAGER NAMED William M. Bannon to Direct Indianapolis Plant. Announcement was made today by the National Terminals Corporation, 240 South Pennsylvania street, of the promotion of William M. Bannon, Chicago, to manager of the Indiana Terminal and Refrigerator Company here. Bannon formerly was assistant manager of the North Pier Terminal* warehouse- in Chicago. Both plants are subsidiaries of the National Terminals Corporation, with headquarters in Indianapolis. The dull red tint of the Red sea arises from millions of microscopic plants called algae.

LOST Power and Speed if your carbu retor need attention— SeriTce by Experts Costs No More CARBURETOR SALES AND SERVICE 214 E. Ohio St. LI-4950.

U. S. Government Bonds Federal Land Bank Bonds Indiana Municipal Bonds T. P. Burke & Cos. Incorporated SUITE 217-224 CIRCLE TOWER PHONE RI LEY 8536

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