Indianapolis Times, Volume 45, Number 121, Indianapolis, Marion County, 29 September 1933 — Page 30

PAGE 30

Wall Street Stoppage of Normal Flow of Long-Term Investment Funds May Necessitate Some Adjustments. Bt RALPH HENDERSHOT Times Soril riaaacial Writer

The president of one of the larger Wall Street banks said recently that if any one of the companies of which he is a director decided to float anew securities issue he would promptly resign rather than accept the responsibility thus placed upon him under the new securities act. Other prominent men have adopted a similar attitude. It should not be inferred that these men are not in sympathy with the aim of the act. which is to protect investors against the sale of questionable securities. It should not be inferred, either, that these men

are seeking to sell securities to others they would not be willing to buy themselves. It merely means that the compensation they rtrceive as directors does not justify the risk they would be called upon to take in guaranteeing, in effect, the securities sold. The problem presented by this situation is a rather important one. No doubt many corporations not interested in short-term credit from the banks could use long-term funds to advantage if they were available Undoubtedly the use of this money would go a long way toward stimulating trade and helping the NRA over the top. ana Fault Not Easily Placed It might not be fair to say that the stoppage of the normal flow of long-term investment money is due to a fault in the securities act. Likewise it might not be fair to place the blame on the bankers or other prominent people acting as directors of our corporations. Nor can the issue be dismissed oy say-

"■ ■ lUk JPr

Ralph Hendershot

ing that if present directors are unwilling to accept responsibility under the act they should make way for others. In the first place, the act would be of little use if it did not have teeth. But the banker-director could hardly be expected for the usual pay of S2O a meeting to risk his entire wealth in guaranteeing purchasers of securities against loss for some statement or omission of statement in a prospectus so long as we have ambulance-chasing attorneys. man Is Good Influence on Boards Moreover bankers ran r>e good influences on corporate directorate!, despite the manv apparent mistakes they have made in the past. If the bankers were to be replaced by people who are irresponsible financially the best interest of the corporations might not be served and the invstors might find it difficult to collect for their losses in the event the issue did not turn out right. Some modification might be advisable all around. It might be possible to temper the securities act to some extent without taking too much away from its effectiveness. It might also be possible to make directors much more responsible for their acts than they have been in the past without chasing the good as well as the bad off the boards entirely. And it might be possible to eliminate the practice of enticing uninterested bankers to boards of directors by offering them commercial accounts to place in their banks or other indirect inducements.

New York Stocks ————— By Abbott. Hoppln tc Cos. I

—Sept 29 Otis— Prev Hieh Lo 10 30 close. Air.erada 40 39% 40 38% Atl Rie 35'a 25% Barnsdall . .. 9 Consol Oil 12 \ 12% K% 12% Cont of Dei .. .. . . 16% 18 Houston meat. 5 4% Houston ioldi.. .. 26 Indian R!s Mid Cont Per . . . 12% 12% Ohio Oil . 18 15% 16 14*2 Pet Com . . 11*2 Phillips Per ... ... 15', Pure Oil 12 1 x Roval Dutch ... 35'* 34% Sfcd Oil 40 39% 40 39 % Shell Union ... . . 8% 8% Simms Pet ... . 9 J Skellev Oil 7% See Vac 11 % 11% S O of Ca! .. .. t 80% 39 S O of N J . .. ' ... 39% 39 , Sun OH * ... 47 46% Texas Cero / ... 26% 25% Tideaater Assn .. ; ... 11 Un Oil of Cal.. .. 19% Steels— Om Roll Mills ... 19 19 Beth Steel 34% 34% 34% 33% Burs A M 24% 25 00l Purl A Iron Cruc Steel ... 22 Lublum Stefl . .. ... • IJJ% McKeesport Tin *9 Natl Steel 36% Ren Iron A- Steel .. . . 14 Rep Ir A Stl pfd . 31 U S Smelt . 90% 90% 90% 88% Vanadium .... . • . ?1 Midland . .10% 10 U S Pipe & Fdy , 14 U S steel . 47% 47% 47% 46% U S Steel pfd 82 Youngstn S A T 21 Kalis— ... .. Atchison x ■“% 56. At! Cst Line ... 33* B& O 2.% 2. Can Pac 14% 14% 14% 14% Ch A Ohio 41% 41% Chi S Ct \l 3% 3% 3% 3% C M t 8t P . • • 6 C M A- St P pfd 9% 9% 9% 9% Chi N W 9% 9% Chi R Isl ,J% De’.a A Hua • • • *2 Erie 17% 17 Grt Northern pf .. ... 20% 20% 111 Central 30 * 30K C Sou . •• 13 Lou A Nash . 42% 42% 42% 42 MKA T . 9 Mo Pac 4% Mo Pac pfd .... .... .6 N Y Cent 38% 38% 38% 38 N Y New Haven .. ... 20% N Y Ont A Wrs. .. ... 10% 10% Norfolk A- Wes . .. . . . 14.'2 Nor Pac 23 23 Penn R R 30% 30% Reading 44* Sou Pac . 23% 23% Sou R R e 4 Sou R R pfd • • 46% Union Pac HQ% Wabash 3% W Maryland 9% Motors— Auburn . , Chrvsler 42% 42% 42% 41% Gen Motors 29% 29 29% 26 4 Graham Mot.. 3 Hudson 11 Hupp 3 Mack Truck • 32 Nash ... • 20. 19, Packard 3k 3* 3k 3 4 Reo - • 33 Studebaker *% * a Yellow Truck .. . • 4 4% Motor Access— Bendix 15% 15% 15% 15 Bshn Alum Bore Warner 15% 14% Briggs •- , • !,* Budd Wheel,... 4% 4% 4% 4% Eaton Mfg ... 12H Elec Auto Lite 1" If a Houd Hershev ... 3* Mullins Mfc J* Murrav Body s * ■ S'ew Warner ... * * Timken Rol ... 28 27% 28 27 5 s * 24% Am Smelt - • ft,* Anaconda 15% 15% 15 • lj * Ca! & Hec’.a J a Cerro De Pasco 34* Granbv 1" ,?% Gt Nor Ore Homestake Min 340 Howe Sound 2 ®.* 29. Ins Cooper *.♦ .5,* Int Nickel ' a Kennecott Cop . .. .21 .0 . Noranda Cpp 35 34 * Phelps Dodge If, a Pitts Coal 13 '* Tobacco.— ... Am Sum Tob .. • ... IS.* Am Tobacco A 83% 83 • 83% 62 i Am Tobacco B ••• 85 -* Cons dear .. - • fu s I.igg A Mvers B . 2%. Revnolds Tob B 50% 5® 50 49 rguiomenta— Allis Chalmers Ir 4 * Am Car A Fdv 28; 2 -8 Am Loco 32% 31* Am Mach A Fdv • ls% Am Stee' Fdv ■■ - **, * Bald loco • 13% 13 . 13 3 }* Burroughs i--Case J I a 81 * Cater Tract !J t * Cc’eat Palm Peet If,* Congoletim 7},Elec Stor Bat ,1J Foster Wheeler Gen Am Tank C 31 ♦ si Gen Flee 19% 19% 19% 18 Gen R R Sit ■ 3 * Ingsol Hard 51% Sl'* 51 4 61 lnt Bus Mach 135 Tnr Harvester 38 36 . Ke’vmator , , 2 Natl Cash TtfF ■ '••• 18 *5 Proc A Gamble Pullman Ir.e 80 49 50 .8 Stmmons Bed £,* Urd EUIK .. • S? | * West Air B 28 2.\ 28 Wcatingh Elec .. • • I* Worthington Pm ... AmTftTlPw- 9% 9% 9% 9 . AtT” * Ut 122 121% 122 131% Am Wat Wks Brook Cu Gas ?** Col Gas A Eiec. ... 14% • Col G A E pfd *• Com A Sou 2 1 . 2‘. Consol Gas .. ••• *',* Elec Pwr A Lit *.* ,S 3 * Int TAT 13% 13% 13% 12% Nat Pwr A Lit 10% 10% 10% 10 * North Ante: 18*. 18% 16% 18. Pac GA E 20 . 20% 20 s . *O% Pub Serv N J • Js>a So C 1 Edison .. ... ... }** J®, Std Gas 10% Std Gas nf! Ilf* 11* United Corp *% .* Un Gas Imp 1 8 % ls% Ut Pwr A Lit A .... 3% Western Union . 57>* 5. 5.% 56 * Rubber*— Firestone .... Goodrich 14 13% 14, 13% Goodvear . , 34 * 33 j U S Rubbe- 17 16% 1, 16% U S Rub pfd 27 26 . Ke! Spring ... 2 * \iruwmrnt8 — Radio .. .. f * Fox Film . 15,-a Uoews Inc . 91V 30% 30% 30% Radio Corp 7\ 7% 7% 1 Warner Bros 7% "7% 7% 7% Fwada— Am Sugar ... • 61

Armour A 414 | Beatrice Cream .. ... 22% ... 1 Borden Prod ... 22% Cana Drv G Ale 30% 30% 30% 30% Coca Cola ... 86% Cont Bak A 12 Corn Prod 86% 85 % Crm of Wheat 29% Gen Foods 35 Gold Dust . 20 20 G W Sugar. . . 39 38% 39% 38% Hershev ... . 51 Int Salt 23 23 Loose Wiles . 37 Natl Biscuit .. 51 % 31% 51% 52 Natl D Prod . ... . . 14% 14% Pet Milk 12 Puritv Bak ... 16 16 S Porto Rico Bue . . 39% Std Brands 24% 24% 24% 23% United FT-uit . ... ... 58% Wriglev 51 % Retail Stores— Ass nrv Goods 14 13% Best A Cos 25' 2 Gimbfi Bros ... ... 4% Gimbel pfd ... 20 Gr Un Tea ... ... ... 5% Hahn Dept Sts . .. 4% Kresge R S 12% 12% Kroger Groc . 22% 22% Mont Ward . . 20% 20% 20% 20 Penny J C 451, 44^ Safeway St ... ... 41% 42 Sears Roebuck . 40% 39% Woolworfh 38% 38% 38% 38 Aviation— Aviation Corp 8% 8% Douglass Air 14 : Curtiss Wright . .. ... ... 2% Curtiss Wr A . .. ... ... 5 | Nor Amer Av . .. .. 5% United Aircraft. 31 30% 31 30% ' Chemicals— Air Reduction .... 106 Allied Chejn .. 137% 136% ' Am Com Alcohol 59% 57% 58% 56% Col Carbon . 53 52% 53 52 Com Solvents . 36% 35’, 36% 35’ , Dupont . 76% 75% 76% 74% : Preeport Tex . . ... 42% Liquid Carb ... . . 27% Math Alkali ... 39 38% Tex Gulf Sulph 37% 37 37 36% Union Carbide .. 42% 42% U S Ind Alcohol 66% 65% 66*4 65% Nat Distil 90% 89 90% 97% Drugs— Coty Inc 4% 4.. Lambert .... .. . . 30% 30% Lehn A Pink ... ... .. 18% Zonite Prod 6 Financial— Adams Exp .. 8% 8% 8% 8% Allegheny Corp . . . 4% 4 Chesa Corn ... ~ 38 Transamerica . . ... 6 5% Tr Conti Corn ... 5 % Building— Am Radiator . 13% 12% 13% 13% ! Gen Asphalt ... 17% 17 Int Cement 26% Johns Manville 52% 51% 52% 50% Lihbv Owens Gls 28% 27% 28% 27'2 Otis Elev 14% 14% 14% 14% Ulen Const 2% Misrelal neons— Am Bank Note .. 14% Am Can 89*, 89% 89 s * 88% Anchor Cap . 22 21 Brklvn Man Tr 32*4 32% 32 1 a 32 Conti Can . 65 64% 65 64% Eastman Kodak 80 79’, Owens Bottle.. .. 74 % Gillette 13*4 13% Glidden 15% 15% 15% 15% Go'ham Silk . .. ... ... 9 Indus Favon ... ... 68% Inter RaDid Tr .. ... ... 9% Real Silk Hose.. 12% New York Curb •By Abbotl. Hoppin A Cos.) - Sept. 28 Close Close. Alum Cos of Am 64% Lone Star Gas . 7 Am Bev 2 Mount Prod . 4% Am C P A Lt B 2% Natl Bellas Hess 2% Am Cyan B 10’, Niag Hud Pwr . 7 Am Gs A El 24% Pan Am Airways 50% Am Sup Pwr .. 3% Parker Rstprf .. 53 1 Ark Ntl Pw A 1% Pennroad 3 Atlas Ut Crp . 11% Pioneer Gld Mi 1% Braz Tr ALt 13% St Regis Paper 3% Can Marc 3 Salt Creek Prod 5% Cent Sts El I*. Segal Lock % Cities Serv . 2% std Oil of Ind 29% Comm Edison. 4% Std Oil of Kv 15% Cord . . 9% Stutz 7% Eisler Elec .1 Translux 1% El Bnd AV Sh . 17% United Founders 1% Fird of Eng 5% United Gas 3 Hudson Bav M 10 Un Lt A Pwr A 3% Imperial Oil 13% United Verde 3\ Irvir.g Airchute 4% Util Pwr A Lt 1% Inti Ptrol . . 18% Wright Hargrave 7% Lake Shore Mi 45 Investment Trust Shares (Bv Abbott. Hop Din A Cos ) - Sent. 28 - Bid. Ask American Bank Stocks Corp 90 1 00 American A General Sec A . 5.50 6.50 Basic Industry shares 3 12 3.22 British Tvne Inv Tr shares . 52 62 Collateral Trustee shares A.. 462 500 Corporate Trust shares iold> 2.11 2 19 Corporate Trust shares mew i 225 229 Cumulative Trust shares . . 392 400 Diversified Trust shares A . 6.25 Diversified Trust shares B . 762 7.75 Diversified Trust shares C. . . 298 302 Diversified Trust shares D 4 80 4 90 First Insurance Stock Corr . 130 140 First Common Stock Corn . 92 1.07 Fixed Trust Oil shares A. .. 794 Fixed Trust Oil shares B 6 92 Investors Inc 16.75 17 00 Low Priced shares 600 Mass Inv Trust shares 17 25 18 75 Nation Wide Securities 3 24 3.30 North Amer Trust shar • 53'.. 1.79 No Amer Tr shar '55-56 2.30 235 Petroleum Trust shares A 1100 14.00 Selected American shares . 256 Selected Cumulative shares 668 693 Se>ctrd Income shares 3 46 3 70 Std Amer Trust shares A . 284 290 Trust Shares of America 286 292 Trustee Std Oil A 538 550 Trustee Std Oil B .. 475 487 U S Electric Lt A Pwr A 1150 12.00 Universal Trust shares 287 297 Federal Farm Loan Bonds ■Bv Blvth A Cos. Inc 1 —Sept 29 Bid. Ask. ' 4s Nov 1. 1957-37 86 87% 4s Msv 1 1958-38 86 87% 4% 5. Julv 1. 1956-36 87 88% ! 4 %s. Jan. 1 1957-37 87 88 * 4% s Mav 1. 1957-37 87 88 ; , 4% s. Nov. I. 1958-38 87 88% 4%5. Dec 1. 1933-32 100% 101 4%5. Mav 1. 1942-32 92 93% 4%s Jan 1. 1943-33 92 93% 4%5. Jan 1. 1953-33 90 91% 4%5. Julv 1. 1933-33 90 91% I 4%5. Jan 1 1955-35 90 91% ! 4%5. Julv 1. 1955-35 90 91% i 4%5. Jan 1 1956-36 90 91 % I 4**s. Julv 1 1953-33 92 93 % i 4%5. Jan 1. 1954-34 92 93% I 4%s Julv I. 1954-34 92 93 % 5s Mas 1 1941-31 . 97% 98% I ss. Nov. 1. 1941-31 97% 98% ; , Home Loan 4s. July 1. 1951.. 86 % 88 ‘

OILS FEATURE GENERAL RISE IN STOCK LIST Advance in Steel Issues Improves Rest of Market. Average Stock Prices Average of thirty industrials for Thursdav high 95 30. low 92 89, last 94 66. up 148 Average of twenty rails, 41 86. 41.02. 41 60, up 41. Average of twenty utilities. 25 81. 25J3. 25 63, up 38 Average of lorty bonds. 83 84. oft .40 Average‘of ten first rails, 86 94, up 08 Average of ten second rails 68 70. oft 87. Average of ten utilities. 92 62. up 15. Average of ten industrials, 84 11, oft 94 BY ELMER C. WALZER United Press Financial Editor NEW YORK. Sept. 29 —Oil shares featured a rise on the Stock Exchange at the opening today as dollar oil became a reality in many sections. The general list was firm and fairly active. In the oil division. Standard of California rose to 407, up 17; Texas Corporation. 264, up \ : Ohio Oil, 154. up 14; Consolidated Oil, 124, up 4, and Standard of New Jersey, 394, up 4. National Distillers opened at 894. The stock today sold exdividend $9 representing a whisky dividend of 1 case of 24 pints of Bourbon for each 5 shares of stock held. Wet stocks generally were firm. J. I. Case opened at 67 4, up -4, and these rose to 694, while International Harvester gained 1\ to 38. Chemical stocks were higher with Du Pont up more than a point. Chrysler jumped 14 to 42% on 2,500 shares and other motors were higher with it. Rails gained fractions to more than a point; mining shares were better with U. S. Smelting and American Smelting up a point each. U. S. Steel opened unchanged at 474, while Bethlehem rose 4 to 34 4. They advanced slightly in the early trading and the whole market improved.

Bank Clearings

INDIANAPOLIS STATEMENT —Sept. 29 > Clearings *J'3SS’S2a'S2 Debits ...... ......... 3.772.000.00 TREASURY STATEMENT —Sept. 29 — Net balance for Sept. 27 $1,170,437,445.68 Int. rev rects. for day 3,073,105.54 Customs rects. mo. to date 29.507.870.70 Liberty Bonds 111/ I niirri Pre** NEW YORK, Sept. 28—Closing libertybonds : (Decimals Represent 3?nds.) Liberty 3%s . 32-47 1 102.10 Liberty First 4%s 1 32-47> 102.25 Liberty Fourth 4%s '33-38' 102 29 Treasury 4%s 1 47-52 1 110.6 Treasury 4s 1 44-541 106.8 Treasury 3%s (46-56' 104.14 Treasury 3%s 1 43-47 1 101.25 Treasury 3%s <4l-43> March ...... 101.22 Treasury 3>,s <46-49) 100 2 Treasury 3s <sl-55) 98.24 Treasury 3%s 1 41 1 101.4 Foreign Exchange By Abbott. Hoppire A Cos. —Sept. 28Close Sterling. England $4 78 Franc, France . . 0590% Lira. Italy 0793 Belgas. Belgium 2106 Mark. Germany .. 3598 Guilder. Holland 6088 Peseta. Spain 1264 Krone. Norway ... 2370 Krone. Denmark 2110 Daily Price Index By United Prcig NEW YORK Sept. 28.—Dun A Bradstreet’s dallv weighted price index of thirty basic commodities, compiled for the United Press: <1930-1932 Average. 100) Today 101.67 Wednesday 101.74 Week ago 102.76 Month ago 101.74 Year ago 78.51 1933 High 'Puly 18' 113.52 1933 Low 'Jan 20' 67 86 Copyright. 1933, bv Dun A Bradstreet. Inc. In the Cotton Markets —Sept. 28—■ CHICAGO High. Low. Close. January 10.18 10.12 10.12 March 10.35 10.29 10.29 May 10.51 10.42 10.42 October 9.80 December 10.11 10.00 10.03 NEW YORK January 10.11 10.00 10.00 March 10.29 10.17 10.17 Mav 10 43 10.34 10.34 July 10.65 10.50 10.51 October 9 79 9.66 9.66 December 10.05 9 91 9.91 NEW ORLEANS January 10.05 9.98 10.03 March 10 23 10.15 10 16 Mav 10.40 10.32 10.32 Julv 10.54 10.48 10.49 October . 9.75 9.65 9.66 December 9 99 9.89 9.93 Produce Markets Delivered in Indianapolis prices—Hens. 10c; Leghorn hens, 7c: springers, 4% lbs. and over, 11c; under 4% lbs., 9c, Leghorn spriigers. 7c: cocks 5 lbs. and up, 6c; under 5 lbs . 4c; ducks 5 lbs. and tver. full feathered - and fat. 6c; under 5 lbs., 4c: geese, full feathered and fat, 4c; No. 1 strictlv fresh country run eggs, 18c; strictly rots off; each full egg case must weigh 55 lbs. gross: a deduction of 10c a pound for each pound under 55 pounds will be made Butter —No. 1. 25'ff26c; No. 2. 22'5 23c. Butterfat. 18c. Quoted by the Wadley Company BY UNITED PRESS CHICAGO. Sept. 29 Eggs—Market, firm: receipts. 4.326 cases: extra firsts. 18c; dirties. 12%c: current receipts.: 15n5%c. Butter—Receipts 15.948 tubs: market, steady: specials, 23%'&24c; extras. 23c: extra firsts. 20%® 22c firsts. 18 ®lß%c. seconds. 16%®17c: standards. 21c. Poultry Market. steady: receipts. 32 trucks: fowls, 10®ll%c; Leghorn broilers. 9c; Leghorns. 7%c: ducks. ll%c; geese. ?c; turkeys, B®9c: roosters. 6®7%c. Cheese— Twins. 11%® 12c: Longhorns. 12%®12%c. Potatoes—Shipments. 852, arrivals 85 on track 263: supply moderate; demand and trading moderate: slightly stronger: Wis- ! consin Cobblers. *1 30® 1 45. mostly $1 40; ; Minnesota. North Dakota Cobblers. *1.40® ! 1.45. few $1.50® 1.55; Red River Ohios. | $1.35® 1.40: South Dakota. early Ohios; partly graded *llo® 120; Idaho Russets. $1.65® 1.75. combination. $1 40 NEW YORK RAW SUGAR FUTURES —Sept. 28High Low Close. January 150 147 148 March 155 152 153 Mav 160 157 158 Julv 165 162 163 September 170 168 168 December 149 145 147 HOGSTON OPENS OFFICE Former Fire Marshal Returns to Practice of Law. Alfred E. Hogston, former state fire marshal, announced today that he has entered the general practice of law with offices on the sixth fl r of the Wild building, 129 East Mr--ket street. Before serving two terms as fire marshal. Mr. Hogston practiced law at Marion 'or twelve years. Woman Hurt in Fall Falling on a crock after slipping on wet linoleum. Mrs. Virginia Lindley. 27. of 1537 Reisner street, incurred a severe cut in the left wrist at her home Thursday.

. THE INDIANAPOLIS TIMES

INDIANA STOCKS AND BONDS

The follownlg Quotations do not r*preent actual bids or offerings, but merely indicate the anproximate market level based on buving and eellina mauiries or recent transactions. -Sept. 28— Bid. Ask. Belt Rail * Stock Yards com 28 33 Belt Rail & Stock Yards, pfd 45 50 Cent Ind Pwr pfd 79, 8 11 Citizens Gas Cos ofd 5'" e 63 67 Citizens Gas com 16 19 Home T A- T Ft Wavne pfd 772 36 40 Ind A- Mich Elec Cos pfd... 67 71 Ind Gen Service Cos Dfd 6'-.. 64 68 Ind Hvdro Elec Cos 7 r , 22 26 Icdpls Gas Cos com 40 44 Indpls Pwr Lt Dfd 67 50 54 Ir.dpis Pwr & Lit pfd 644.. 54 58 Indpls Water S':, Dfd 89 93 No Ind Pub Serv Cos pfd 6% 22 26 No Ind Pub Serv Cos ofd 5’24 21 25 No Ind Pub Ser Cos Dfd 7'“-.... 25 29 Public Serv Cos of Ind Dfd 74 21 25 South Ind Gas & El Dfd 64.. 56 60 Terre Haute Elec Dfd 67... 21 25 BONDS Citizens Gas Cos 5s 1942 88 90 Home T & W 54s 1955 97 100 Home T A T W 6s 1943... 98 IC2 Indpls Gas Cos 5s 1952 74 77 Indpls Rvs Inc 1967 30 33 IndDls Water Cos 54s 1940.. 98 101 Ir.dpls Water Cos 5s 1960... 95 99 IndDls Water Cos 5s 1970 94 98 Irdpls Water Cos 54s 1953.. 100 103 inriols Water Cos 54s 1954.. 100 103 Kokomo Wat Works 5s 1958.. 78 82 Lafavette Tel Cos 5s 1957. .. 83 87 Muncie Water Works 5s 1939.. 94 98 Richmond Water Works 1957.. 85 89 Terre Haute Wat W'ks 5s 1956 83 87 Terre Haute Wat Wk 6s 1940 . 95 39 Traction Terminal Cos 5s 1957. 45 49 Other Livestock BY UNITED PRESS CHICAGO. Sept. 29.—Hogs—Receipts. 50.000; including 25.000 government; directs 12,000: slow fullv 10c lower than Thursdav: 180-220 lbs. $4.90®5; extreme top. $5.10; 230-300 lbs.. 54.10® 4.90: light lights, $4 75® 5: commercial pigs. $4.50 down; bulk packing sows. S3® 3.60: light lights. 140-160 lbs., good and choice. $4.50 ■a 5: light weight. 160-200 lbs., good and choice. $4.75®5.10; medium weights. 200250 lbs . good and choice. $4,504(5: heavyweights. 250-350 lbs., good and choice. 53.65® 4.65: packing sows. 275r500 lbs., medium and Choice. $3,754/3.65; slaughter pigs. 100-130 lbs . good and choice. 53.50® 4 50. Cattle—Receipts. 2.000. calves. 800: steers and heifers, steady to strong on cateh-as-catch-can basis: all classes 25 or more lower than week ago: good to choice kinds largely $4.50® 5.50: most western steers down to S3: few held above $6. little above 55.50: 753-lb. yearling heifers held around $6; cows and heavy heifers, weak and lower. Slaughter cattle and vealers — Steers. 550-900 lbs., good and choice. $5.50 ® 6.75: 900-1100 lbs., good and choice. ss.so<h 7; 1100-1300 lbs., good and choice. $5.50® 7: 1300-1500 lbs., good and choice. $5 50® 7: 500-1300 lbs., common and medium. s3® 5.75: heifers. 550-750 lbs., good and choice. $4.50®6.40; common and medium. $2.75® 5; cows. good. $3.25® 4.50; common and medium. $2.15® 3.25; low cutter and cutters. $1,25®2.15: bulls, vearlings excluded, good. beef. $3.15®4: cutter common and medium $2.25’® 3.15: vealers. good and choice. s6® 7.50: medium. sn®6. cull and common. s4® 5. Stocker and feeder cattle—Sters. 550-1050 lbs.. good and choice. $4.25G5. common and medium. $2.75®4.25. Sheep—Receipts. i5.000: light supply: natives steady to weak; top. $7.25: bulk. $6.75®.7; indications on rangers W’eak to unevenly lower; sheep steady. Slaughter sheep and lambs—Lambs. 90 lbs. down, good and choice. $6.50®7.25; common and medium. s4® 8.75: ewes, 90-150 lbs., good and choice. 51.50®.2.75: all weights, common and medium. 75c®$2; feeding lambs. 50-75 lbs . good and choice. $6®,6.50. PITTSBURGH. Sept 29.—Hogs—Receipts, 4,800; including 2,500 government pigs and 750 holdovers; 15 to 2o cents lower on 160-220 pounds: top. $5.60; bulk $5.50® 5.60; other weights slow: 250-300 lbs $4.75® 5; 375 pounders, $4.25: 220-250 lbs.. ss® 5.50; light weights, 125-laO lbs., $4.50® 5: pigs. s4® 4.24: packing sows, steady at $3.50® 4. Cattle—Receipts, 40quotable steady with Monday. Good beef steers eligible at $4.50® 5.25. Calves Receipts. 100: steady; good and choice vealers. $7.50®8; others steady. SheepReceipts. 1,000: better grade closely sorted lambs, seadv at $7.25® 7.50: lower grades weak to lower: aged wethers weak, medium lambs, s4® 5.25: culls down to $3 and lower; aged wethers, $3 down; ewes steady. EAST ST. LOUIS, 111.. Sept. 29 Hogs— Receipts, 14,000. 5 000 government pigs: market, slow, uneven, mostly steady to 10c lower than Thursdays average; top $5 10, paid very sparingly; bulk 170-230 lbs.. $4 85® 5; weightier kinds not established. a few 140-160 lbs., $4.50® 4.90: 110130 lbs. $3.85® 4.35; bulk sows, $3.15® 3.50. Cattle—Receipts. l.. r >off; calves, receipts, 800; market, hardly enough cattle on sale to make a market; most classes about steady in cleanup trade; one load native steers, $5.50: three cars Kasans grass steers unsold; mixed vearlings and heifers, $4.50®, 6; cows. $2.25®3: low cutters. $1.25®.1.60; top sausage bulls, $2.75; practical top vealers. $6.75 with a few on butcher accounts. $7; slaughter steers, 550-1,100 lbs., good and choice. $5.50®6.75: common and medium $3®5.50: 1.100-1.500 lbs., choice, s6® 6.75; good, $8.25®.6.28: mediums. s4® 5.25. Sheep—Receipts. 1,000: market, uneven: fat lambs, opened steady to 25c higher to city butchers; better kinds, $6 75® 7; packer purchases, steady to shade lower, mostly at $6®6.25: medium lambs, $4.50® 5: common throwouts, $3.60® 4: better slaughter ewes, s2® 2.75; lambs, 90 lbs. down, good and choice. s6® 7;: common and medium, $3.50® 6; yearling wethers, 90-110 lbs., good and choice, s4®s; ewes, 90-150 lbs., good and choice, $1.50®. 2 75- all weights, common and medium. sl® 2. LAFAYETTE. Sept 29.— Hog market. 10 to 50c lower; 200-250 lbs.. $4.70® 4.85: 250270 lbs.. $4.50® 4.60: 270-290 lbs.. $4.30@ 4 40- 290-325 lbs. $4®,4.20; 150-200 lbs.. $4.45®4.75; 130-150 lbs. $4®4.20; 100-130 lbs.. [email protected]: roughs, S3 down. Top calves —$6. Top lambs—s 6. EAST BUFFALO. Sept. 29.—Hogs—On sale. 5.600; including 3.400 on government order: all weights, 25c under Thursdays average: desirable 170 to 220 lbs., $5.50: 160-180 lbs.. $5.40®5.45: 150-160 lbs.. $5.25, pigs, downward to $4.50. Cattle—Receipts. 150: market draggy: grass steers and heifers, about steady at week s decline: common kinds. $3.75® 4.25: cutter grade cows. $1.60® 2.35. Calves—Receipts, 450 vealers. unchanged: good to choice, mainly $8 few $8.50: common and medium. $5.75® 6.75. Sheep—Receipts. 1.000: lambs active. 25c higher: better grades up most: bulk good to choice ewe and wethers $7.60® 7.75: medium kinds and fat bucks $6.50® 6.75; throwouts. $5.50® 5.75. FT. WAYNE. Sept. 29.—Hogs—30c off: 200-225 lbs.. $4.90: 225-250 lbs.. 64.75; 250275 lbs $4.65: 275-300 lbs.. $4.50; 300-350 lbs $4.25: 160-200 lbs.. $4.80: 150-160 lbs., $4.40: 140-150 lbs.. 54.15: 130-140 lbs. $3.90: 100-130 lbs., $3.50; roughs. 25c, off at $3-25, stags, 25c off at $2. Calves, 50c off at $6.50; lambs, 25c off at $6.50. Bit Timm Special LOUISVILLE, Sept. 29.—Cattle—Receipts, 125; draggy at weeks decline; bulk common to medium grass steers and heifers, $2 75® 3.75; common down to $2.50 and best fed offerings quotable around $5.50; bulk all cows, $1.25®2.50; most sausage bulls $2.50 down; best heavy kinds to $2.70; Stocker and feeder range mostly. [email protected]. Calves—Receipts 275, steady; bulk better grades $5.50®6; strictly choice handyweights eligible higher medium and lower grades. $4.50 down. Hogs—Receipts. 1 100. 15 cents lower: 180-235 lbs., $5.10; 240-275 lbs.. $4.65; 280 lbs. up, $4.40; 140-175 lbs.. $4.30; 135 lbs. down, $2.60; sows. $3.25; stags. $2.20. Sheep—Receipts, 250. steady: bulk better lambs, $6®6.50: choice eligible higher; bucks mostly s3® 5.50; throwouts. $3.50®4; fat ewes. sl®2 per cwt ; most better stock ewes, s6® 7 per head: choice eligible higher. Receipts Thursday: Cattle, 154; calves, 147: hogs 1.367, and sheep 272. Shipments Thursdav: Cattle. 67: hogs. 434; sheep, 262. Hogs receipts included 767 pigs on government order.

In the Air Weather conditions at 9 a. m.: East-northeast wind. 9 miles an hour; temperature. 63; barometric pressure, 30.02 at sea level; general conditions, high scattered clouds, smoky; ceiling, unlimited; visibility, 6 miles. , BE SAFE Your Cxr Taday Automobile Insurance Ass’n. LI. 8371. 7th Floor, Occidental Dldg. r WJ COLLATERAL * / VU LOANS * No Co-Maker* Repaid Over a Whole Year The Indianapolis Morris Plan Cos. S. E. Corner Delaware and Ohio Sts. HI. 1536. V* 1 Orders executed * At the Market Allied Brewing and Distilling Cos., Inc. Wm. E. Shumaker & Company, Inc. WE OFFER Richard I.ieher Bre-.vlne Cos. Stock Trices at Market Raymond D. Jackson & Cos. Investment Securities Fletcher Trust Buildiii* Tel. Lincoln 3050 Indianapolis

PORKERS SHOW LOWER TREND AT CITY YARDS: Not Enough Steers on Hand to Make a Market in Cattle. Easing up in demand let hog prices down 20 to 50 cents this morning at the city yards. Butch- , ers were off most. Underweights were mostly 10 to 15 cents below Thursday's average. The bulk. 160 to 260 pounds, sold for $4.80 to $4.95; 260 to 300 pounds, $4.40 to $4.70; 300 pounds up, $4.10 to $4.30; 130 to 160 pounds. $4.20 to $4.70; 100 to 130 pounds. $3.50 to $4. Receipts were estimated at 11,000, including 4.000 pigs. Holdovers were 447. Not enough steers were on hand to make a market in cattle. The trend in she stock was slow am' lower on plain quality offered. Receipts were 400. Vealers were steady at $7 dowru. Calves receipts were 600. Lambs lost 25 cents in the sheep market, bulk of ewe and wethers selling for $7 to $7.25. Bucks brought from $6.25 down. Culls and throwouts were to be had down to $3.15 and below. Receipts were 1,500. Initial bids on hogs at Chicago were weak to around 10 cents lower than Thursday's average. Bulk sold at $5 down. Early action was slow and draggy. Receipts were estimated at 50.000, including 25.000 government pigs. Directs numbered 12,000 and holdovers 8.000. Cattle receipts were 2,000; calves. 800: market mostly steady. Sheep receipts, 16,000; market lower. HOGS Sept. Bulk. Top. Receipts. 22 $5.40® 5.45 $5,50 14.000 23. 5.35® 5.45 5.50 9.000 25. 5 20® 5 25 5.30 12.000 26. 5.15@ 5.20 5.25 12.000 27. 5 25® 5 30 5.35 9.000 28 5.15® 5 20 5.25 12.000 29. 4.80® 4.95 5 05 11.000 Market lower. (140-1601 Good and choice $ 4.45® 4.70 —Light Weights—-(lßo-2001 Good and choice... 4.95 (160-1801 Good and choice . 4.95 —Medium Weights—-(2oo-2201 God and choice... 500 ® 505 (220-250' Good and choice . 4.90® 500 —Heavy Weights—-(2so-2901 Good and choice... 4.50® 4.80 (290-3501 Good and choice.... 4.20®, 4.40 —Packing Sows—(3so down! Good 3.40® 3.65 (350 up i Good 3.25®. 350 iAll weightsi medium .. 3.00® 3.25 —Slaughter Pigs . (100-1301 Good and choice... 3.50® 4.00 CATTLE Receipts. 400; market, steady. (1.050-1,100 l „ „ = Good and choice.y $ 5.25® 6.85 Common and medium 3.20@ 5.25 <l.lOO-1,5001 . „„„ Good and choice 5.25® 7.00 Common and medium 4.00® 5.25 —Heifers — (550-750) Good and choice 5.25® 6.25 Common and medium 3.00® 5.25 (750-900) — Good and choice 4.50® 6.00 Common and medium 2.75® 4.50 —Cows— Good 3.00® 3.50 Common and medium 2.25®/ 3.00 Low cutter and medium I.oo® 2.25 —Bulls (yearlings excluded i Good (beef) 3.00® 3.50 Cutter, common and medium.. 2.00® 3.00 VEALERS Receipts. 600; market, steady. Good and choice $ 6.50® 7.00 Medium 4.50® 6.50 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® 5.25 Common and medium 3.00# 4,25 (800-1.5001-Good and choice 4.25® 5.25 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1.500; market, lower. —Lambs—'9o lbs. down) good A choice $ 6.50® 7.25 (90 lbs. down) com and med. 3.50® 6.50 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75 Other Livestock BY UNITED PRESS CLEVELAND, Sept. 29.—Cattle—Receipts 150; market slow and dull; steers ranging at Thursday's prices from $3.75® 7, according to weights and grades; heifers, unchanged; medium to good, $4 25® 5.50; good cows, $3.25®3.75; bulls, $2.25® 3.75. Calves Receipts, 200; market steady: choice to prime. $8®8.50: choice to good. s7® 8: common. s3® 3.50. Sheep —Receipts. 1.200; market steady; choice wethers, $2.50®,3.25; spring lambs, choice, s7®B: good to choice, s6®7; common and dull, s3®s. Hogs—Receipts, 15.000: receipts include 800 good hogs; market. 15® 25c lower; heavies downward to $4.75: choice j butohers, $5®5.25: light butchers and I choice Yorkers, $5.25; roughs s3®3 25; j pigs, $4. w I

An URGENT WARNING to Trustees and Guardians You men and women who have on your minds the responsibility of conserving the means and guiding wisely the purchases of minors and others left under your charge— May we suggest that at this time you study carefully the probable future needs of your wards—for this Fall and Winter—and investigate our claim that purchases of apparel and staple goods made from our 61st Anniversary Sale assortments will save important sums of money. You may rely on Ayres’ salespeoples’ and department managers’ statements as to comparative value; or if you prefer, our Comparison Office Records may be made available to assist you in determining the wisdom of “stocking up” purchases. We know many of you have seen the wisdom of choosing a QUALITY background for the purchases you permit. It is hardly necessary to add that Sale alues, in Ayres’ Anniversary, are of standard quality, in good fashion, at the year’s lowest prices. L. S. AYRES & CO.

Chicago Stocks “BT Abbott. Hoooin A Cos.

TOTAL SALES 36.000 SHARES i —Sept. 28— High. Low. Close Abbot Lab ... 387 1 Ainsworth Mfg 97 9’z -7 8 Bendlx Aviation 15‘ }4 }s * Berehoff Brew Cos .... 11 10** 11 Bore-Warner 157 147 15 * E L Bruce Cos j* 4 Bucvrus-Momghan C 0.... . ... 14 Butler Bros 3’z 3 * 3 Canal Construction ..3 27 a Cent 111 Pub Serv pfd 20 Cent Ind Power pfd Cent A So West . .. I 3 * Chi A North Western.. 9' B.* 9 Chicago Com com 2 „*, 4 Chicago Coro pfd . 25 24 .4 z Chicago Elec Mfg A 3 ;* Chicago Mail Order ... 4 - 2 Chicago Yellow Cab .. 12 11* Cities Service 27 27 Commonwealth Edsion . 45 42 4a Cord Com 97 9 9’* Crane Cos 67 6 z ° * Crane Cos pfd •• • • ••• * Curtis Lighting J* Curtis Mfg Cos ■_ */ DeMets. Inc., pfnee .... 157 15 u.i Dexter Cos •• Electric Household ... 107 10 w 10 z General House Util ... 17*4 1< 4 Godchaux B” 5 4 4 < Goldblatt Bros ••• 21 4 Great Lakes Aircraft .... .•• * Great Lakes Dredge ... 15 147 ij> Grigsbv-Grunow • •• ••• *, Hall Printing Harnischfeger Hormci At Cos Houdaille-Hershey B 3 8 Iron Fireman ”; 2 Kingsbury Brew Cos ••• 7, 4 Libby McNeil 47 4 7* Lincoln Printing * 3 S Loudon Packing ••. ' Lynch Corp 337 32 4 32 . Marshall Field ••• McWilliams Dredging Cos 1 Middle West Utilities 4 Modine *i,. Monroe Chemical ... 2 Muskegon Motr Spec A”. 8 Nachmann Springfield National Leather ••• } 4 National Union Radio . ... ... 4 Noblitt-Sparks Indus Inc 2 J 4 North Amer Light A P .. ••• 3 Potter Cos 4 s 3 s 3 s Prima Cos 17 16 4 „ Public Service N P 277 26 2; a Quaker Oats Quaker Oats pfd. Ravtheon VTC Raytheon pfd. ••• ••• ,i, Reliance Mfg Cos 127 12 s 4 Sutherland Piwpgv C 0... ... ••• * Swift and Cos 16;s 16'z 16 2 Swift Lnternacional ... 25 3 4 25 za 2 Retail Coal Prices The followipe prices represent quotations from leading Indianapolis coal dealers. A cash discount; of 25 cents per ton is allowed. DomMiio Prices Indiana No. 4 and No. 6 lump. $5.25; egg, $5; mine run. $4.79. Coke (carload lots) —Egg. nut. s<; pea sizes. $5.25. Semi-Smokeless—Lump. $. 25. Retail Steam P'rfces Indiana No.,s—Lyrnp. $4.50: egg, $4; nut $3.85; pea, $1.25; mine run. $3.75. West Virginia—Lump. $5.50; egg. $0.25. Kentucky—Egg. $5.25. CHICAGO FRUIT MARKET By United PrQs . CHICAGO. Sspt. 29—Apples—Michigan wealthies busbpl. 75c® $1: Jonathans, bushel. sl® 1.15 Pears— Michigan Keifers 75c. Cawots-Illinois. 2®2‘zC. Ohio. 3140 Eggplant—lllinois bushel. 3a® 50c. Spinach—Michigan, bushel. 50® 85c. Beans ! —lllinois, green. $1®1.25. Cabbage—Wis- | consin crate. • *l® 125 Peooers—lllinois, bushel, 40® 50c Celery—Michigan crate. I 20® 40c: flats.- 36® 40c. Corn—lllinois. 25® 40c Corn —Wisconsin. 75c®$1. Tomatoes —Michigan. 80®.260 Grapes—Michigan. 12 ouarts. 20® 22c: four Quarts 12@12>zC. Onion market: California—Valencias, bushel. sl®l 15: Wisconsin, yellows bushel. 65®70c; Indiana, yellows. 35®70c: Illinois, yellows, bushel. 65® 70c: Minnesota and Indiana, whites, bushel. $1.15. NEW YORK COFFEE FUTURES , r-i Sent. 38; — SANTOS . • High. Low. Close. March 843 842 8.43 !luv |.w i September .. •• ;i ‘ •••• ° December B RIO March 397 4 95 5.95 December !! 77, _.. 382 _sja SQA.3 0 PER OU= MONTH Compare This 16 Months Finance S4OO Balance New Fords, Chevrolet, Plymouth THIS INCLUDES Liability, Property Damage, Fire. Theft, Tornado and $50.00 Deductible Collision INSURANCE GREGORY & APPEL INCORPORATED 247 N. Penn. ft. Lincoln 7491

Thompson. JR * U S Gvpsum. com Util Power * Light N V UtUitv A Ind. pfd 5 S’-4 4 Walgreen Cos. Com 18 l.’z 18 Ward Montgomery 'A ' Waukesha Motor 255525'3 Zenith Radio 2 1 , 2 2>. Indianapolis Cash Grain - Sept. 26 The bids for car lots of grain at the call of the Indianapolis Board of Trade f 0. b. shipping point, basis 41 1 z New York rate, were Wheat Easv No 1 red 77® 78c : No 2 red, 76® 77c: No 2 hard. 76® 77c. Corn Easv No 2 white. 42®43r No 3 w hite 41® 42c: No 2 yellow . 39® 40c No 3 yellow,'3B4t39c; No. 2 mixed, 38<13e; No 3 mixed. 37® 38c Oats- Easv; No. 2 white, 31®32c; No. 3 w hite 30® 31c Hav—Steady: ■ f 0 b country points taking 23';C or less rates to Cincinnati or Louisville : No 1 timothy. r 6®6 50: No. 2 timothv, $5 50® 6 —lnspections Wheat —No. 1 red, 1 car. No. 2 red. 2 cars: total. 3 cars Corn—No. 2 white. 2 cars; No 3 white. 1 car; No. 2 yellow ’.4 cars; No 3 yellow, 9 cars; No 4 yellow. 7 cars. No 6 >elloss-. 1 car: total 34 cars Oats—No. 2 white. 1 car; No. 3 white. 4 cars; total. 5 cars INDIANAPOLIS WAGON WHEAT City grain elevators are paving 77 cents for No 2 sort rea wneat. Otner grades on their merits. TOLEDO CASH GRAIN By United Prmg TOLEDO Sept 28—Cash grain close Grain in elevators transit billing Wheat —No. 2 red. 88 , z®89 , zC. Corn—No. 2 yellow. 51®52c. Oats —No 2 white. 40® 41c. Rve —No 2. 74® 75c. Track prices (28'2C rate Wheat—No 1 red. 84’z®85 I 2C; No. 2 red. 83 , 2@84 1 2C Corn —No 2 yellow. 46 l :®47' 2 c; No 3 yellow. 45 I 2®46'zC. Oats —No. 2 white. 37®38c; No. 3 white. 35'2® 37c Toledo seed close: Clover— Cash. $6.80: October. $6 90b: December. s7b. ST. LOUIS CASH GRAIN Bit Unit'd Press ST LOUIS. Sept. 28 Cash grain— Wheat—ln slow demand. ' 2 c higher; No 2 red. 90'2e; No. 2 red garlicky. 88' 2 c. Corn—ln fair demand; unchanged to higher; No. 6 mixed. 42c; No. 2 yellow l . 47 'ic: yellow. 46'z®46 4 ir: No. 6 yellow, 42c; No'. 2 white. 48'2C; No. 6 white 48c Oats —In good demand. '2C higher; No. 4 white. 34' 4 ® 35’2C: No. 2 mixed. 36c; No. 4 mixed. 33'2®34'2C. Bright Spots By United Pres* Commercial Credit Company reports August net income of $300,241, against $265,712 in July. S. H. Kress & Cos. declares extra dividend of 50 cents on common. Louisville & Nashville railroad earns August net income of sl,608,991, against $853,253 in August 1932. Eaton Manufacturing Company resumes dividends on common stock with declaration of payment of 20 cents a share. Mobile & Ohio railway earns August net income of $32,300, against deficit of $69,592 in August last year. American Water Works and Electric Company reports power output last week inereased 17 per cent over like 1932 period. Alaska Juneau Gold Mining Company declares extra dividend of 15 cents a share. Active Trading In U. S. Government Securities Municipal Bonds Land Bank Bonds Gravel Road Bonds General Market Securities Pfaff & Hughel INCORPORATED Chicago INDIANAPOLIS Ft. Wayne Illinois Bldg, X.lncoln 2585

Abbott, Hoppin & Company 203 Continental Bank Building Riley 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, I-nc„ N. Y. New York Coffee and Sugar Exchange i \ Co-Managers James T. Hamill Kenneth K. Woolling

Repeal! . How will repeal affect . :.■# Common Stock of the Allied Brewing & Distilling Cos. of Brooklyn and New York Sole Owners of the Following Companies: A. HUPFEL & SONS BREWERY, New York City Manufacturers of the famous Pilsner Beer JULIUS MARCUS Laboratories, Brooklyn, >T. Y. Manufacturers of well known JULIUS MARCUS Cordials and Liqueurs and the famous old HERMITAGE DISTILLERY, of Frankfort, Kentucky Stock actively traded on Chicago Curb Exchange and New York Produce Exchange. Application has been made to ]ist on New York Curb Exchange. Prospectus mailed on request. We execute orders at the market. I.G. KAHN & COMPANY, INC. Suite 445 Illinois Building Lincoln 6787

SEPT. 29, 1933

GOOD DEMAND j SENDS WHEAT 1 PRICES HIGHER Sentiment Turning Bullish on Cash Situation; Corn Firm. BY HARMAN W. NICHOLS I nited Pres* Staff Cnrre*nndfnt CHICAGO, Sept. 29,—The wheat market showed more strength today and at the opening of the Board cf Trade was up ’g to 1 cent. Corn was up 'g to N cent and oats up '* to ,17 cents. Rye was up ’-j cent. Brokers believed that the domestic cash situation gradually is hardening and that if nothing develops to start speculative liquidation, conditions will gradually favor the bull side as hedging pressure relaxes and primary arrivals dimish. Rumors that the government might finance wheat and corn farmers added to the confusion in the market pits. The failure of Russia to take part in the world acreage curtailment of wheat had been anticipated and it is not expected to influence the market. Liverpool today was fractionally lower than expected. ■With assurance that a good crop is in the offing, corn was being offered freely. Hedging on bookings, however. was a depressing factor as far as the futures are concerned. Oats continues to display a fair degree of independence. Chicago Primary Receipts —Sept. 28 - Bushels Today Last Week Wheat 665 000 748,000 Corn 4 626,000 .901,000 Oats 379,000 373.000 Chicago Futures Range j • —Sept, 29 Wheat— High. Low 10:30. close! Dec 9P* 907 .91*4 .90 May .957 .95 .95*4 ,94</ CORN— Dec 507 .507 .507 .50V, May 57 7 .56 7 .57 .597 OATS— Dec. .397 .397 .397 .397 May 437 .43'/, .437 .43 RYE— Dec 71 .707 .71 .697 May * .777 .777 .777 .787 BARLEY— Dec. 58 7 .58 .58 7 .577 May 637 .637 CHICAGO CASH GRAIN Bp United Press CHICAGO, Sept 28 —Cash grain close: Wheat—No 1 hard. 877®88c. Corn—No. 2 mixed. 46''4C; No. 3 mixed. 45‘4c: No. 6 mixed. 407 c; No 1 vellow. 46’4®467c; No. 2 yellow. 46 L® 467 c; No. 3 yellow. 45>4®467c; No. 4 yellow, 44®44 , 4c; No. 6 vellow. 41’,zc: No. 2 white. 47 I<c: 1 < c: No. 3 white. 457 c: sample grade. 31®37c. Oat* —No. 2 white. 36’,® 377 c; No. 3 white. 35® 367 c Rve-- No sales. Bariev—so® 80c Olove-rseed—sß® 10.50. Cash provisions- Lard. $5.55: loose. $4.90; leaf, $4 87: D. S. bellies. $5.62. Conservative Business ; ii Invited American national jsank AT INDIANAPOLIS

BUY YOUR 30TH & CENTRAL SALES TA. 5550