Indianapolis Times, Volume 45, Number 150, Indianapolis, Marion County, 2 November 1933 — Page 17

NOV. 2, 1933.

Wall Street.

Investment Bankers Urge Securities Act’s Revision: Liability Under Statute Conceded. By RALPH HENDERSHOT Times Special Financial Writer

HOT BPRINGS, Va.. Nov. 2 —lt is beginning to look as though Investment bankers may secure a reasonable revision of the securities act in the next session of congress. Investment bankers from all over the United States, meeting in convention here, nave sufficiently revised their attitude toward the law as to provide a common meeting ground with the administration to work cut the problem. Not only do the bankers now desire a law to regulate the sale of securities but, in meeting here this week, they went on record in a resolution saying that the association believes that every seller of securities 'should be liable to the buyer for any damage caused by negligence or

bad faith on his part.” In other words, they now favor for the first time the principle laid down by President Roosevelt that the time has come for the sellers of securities to beware. They are still critical of certain provisions of the act—and most of those who have made a study of it believe rightfully so—if the administration wishes long-term capital to flow into industry through the normal channels of finance. Os course, if as some people have suggested, the President desires to have that branch taken over by the government all of their arguments may prove futile. Few, however, believe that to be the case. o a a Gordon Cites Apathetic Capital The bankers also have begun to present some real arguments for revision. Frank Gordon, president of the association, supplemented his set speech to the extent of saying. 'A reservoir of money that can be translated into jobs for millions of people is being

Ralph Hendershot

held back by the need for clarification of the liability sections.” Incidentally, Mr. Gordon seemed to be following suggestions made to the bankers by newspaper men covering the convention in a forum on Sundav. The bankers were told that the newspapers and the general public were not concerned over the selfish intersts in the situation, but that they were irtterested in the public's stake in the matter, viz., the need by industry of long-term capital and the part such capital or lack of it will play in the return of normal business conditions. ana Law Held Revival Impediment “It is time for plain speaking.” Mr. Gordon said at another point. "The law is a hindrance to national recovery. Personally I do not believe than any one ever intended to pass a law which makes a countrydealer who handles SIO,OOO of a ten-million-dollar issue liable for the entire ten million.” It may be said in passing that the association always has stood officially for sound investment banking practices. The trouble has been that it never did anything to enforce the principles for which it stood. Had it done so the new securities act might never have come into existence. It would not have been needed. Now the government has taken over thejob of policing the industry. The results in the end are likely to be for the good of everybody concerned, but initially all probably will haye to suffer to some extent.

New York Stocks ■ ■ ■ ■ " ( By Abbott. Hoppin M Cos.) " 1 " "

-Nov. 2 - Prev. OIK— High. Lcrw. 10:30. close. Amerada ... • • 42Vi All Rfg 29% 28% Barnsdail .8 7% Consol Oil ... 11% 18% Cont of Del 17 16% Houston i old * .... ... ... 21‘2 Mid Cont Pet 11% 11% Ohio OH 13% Pet Corp . I°, Phillips Pet 14% 14% 14% 14% Pure Oil 11% 10% Sbd OU 33% 32 k Shell Un 8% 8% 8% 7% Simms Pet 10 Skellev Oil BVs 8 8 7% Soc Vac ... 11% % S O of Cal 40 39% S O of Kan 34 S O of N J 41 % 40% Texas Corp .24% 23% Tidewater Assn . .. ... 9% 9% Un Oil of Cal 19'* SteeK— Am Roll Mills 15% 14% Belh Steel 28% 28% Bvers AM 21% 20 Col Fuel A Iron .. ... 4% 4% Cruc Steel ... . . 15 Gulf Sts Steel 17 Inland Steel 31 30' 2 Ludlum Steel ... . . 10% McKeesport Tin... . 77 Natl Steel ... .. . 38 Rep Iron A Steel .. ... 12 11 % Rep I A Btl pfd 23 U S Smefi .100*4 99 % 99% 100 Vanadium ... ... 17 Mid Steel 10% U S Steel 38'4 38 38 47% U S Steel pfd . 76 Youngstn S A T . ... ... 16 Rails— Atchison ...... ... ... 46 Atl Cst Line . . ... . 29 B A O 21 % 21% 21% 21% Can Pac 13% 12*8 Ch A Ohio 38', 37% 38 38 C M A- St P pfd 7*B 7 7*4. 7% Chi N W • 6% Chi R Isl 3% Dela & Hud 46% 45% 46% 44% Erie 13 Grt Northern ... 16% 16*4 111 Central 24* 4 23% K C 3mi iO% Lou At Nash ... ... 40*4 M K *• T 7*4 Mo Pac ... . 3% Mo Pac pfd . 4% 4% N Y CeriS . 30% 30% 30'2 .. N Y Chi A St L 13% N Y C A- St L pf 15% N Y New Haven. .. 15*4 14% N Y Ont A Wes 8 Norfolk A- Wes.. 147' 2 Nor Pac 19% 19*4 19% 17% Penn R R ... 25*4 25 Sou Pac ... 18% 18% Sou R R 20*2 20'4 Sou R R pfd . . ... 22*2 Union Pac . 105 West Mary 8 Motors — Auburn • . 36% Chrysler 39% 39% 39% 39% Gen Motors ... 27*2 27% 27% 27*8 Graham Mot ... 2% 2% Hudson ... . 9% Hupp 3% 3% Mack Truck 26% Nash ... 17% 17% Packard ... 3*B 3*2 Reo ... . • 3 Studebaker .... 4% 4% 4% 4 Yellow Truck .... 4% Motor Accessories— Bendix ... 12% 11% Bohn Alum 42 4 Borg Warner 15 14 Briggs 8 7% Blind Wheel ... 3*4 3*4 Eaton Mfg 14 Elec Auto Lite 14 Houd A 2% Mullins Mfg 4% Murray Body .. 4*2 Stew Warner 5% 5% Timken Rol ... 25% 24% Mining— Alaska Jun .... 2-7% 27 27 27 Am Smelt 46% 45% 46% 46% Anaconda ...,. 14% 14% 14*4 14% Cal A- Hecla 5 4% Cerro de Pasco . 37% 36*4 37% 36*4 Granbv 9*4 9*2 9*2 9% Gt Nor Ore 9*2 Homestake M .. . 340 Howe Sound .... 31% 31*2 31% 31% Ins Copper . . 5*2 Int Nickel 17% 19% 19% 19% Kennecott Cop .21 20% 21 20% Noranda Cop 35% 34-e Phelps Dodge .. 15*4 15% 15*4 15% Tobaccos — Am Snuff 49 Am Sum Tob 13_ Am Tobacco A ... 69*4 69-8 Am Tobacco B . 72*4 72 72 72 Gen Cigar 29 Ligg A- Myers B 82% 81% 82% 81’ 2 Lorrillard 16% 16% 16*4 16*8 Reynolds Tob B. 43*2 43% 13*2 43*8 Equipments — Allis Chalmers 15*4 Am Mach A- Fdv 14 13% 14 14 Am Steel Fdv 16*2 Bald Loco 10' 10% Burroughs 13*4 12% 13 12% Case J I 65*4 64% 64*2 63% Cater Tract .... 18*2 Colg Palm Peet. . ... 13'4 Congoleum ... 22 21% Elec Stor Bat 39*2 ■ Foster Wheeler 13*a Gen Am Tk Car ... 28 Gen Elec 19*4 19 19 18% Gen R R Sig 28 Ingsol Rand 51% 50 Int Bus Mach .. . 130*4 Int Harvester .. 37% 37 37 35% Kelvins tor . 9% Natl Cash Reg 14 13% Proc A Gamble 37% Pullman Inc 42 Simmons Bed ... 15 s Und Elliot 23*8 West Air B 24 2*% 23% 23 Westingh Elec . . 33 32% Worthingtn Pmp 18*2 18 Utilities Am & For Pwr 8% 8% Am Pwr A Lit 7*4 AT&T 111 5 . 110% Am Wat Wks . 18*2 18 18*2 18% Brook Un Gss.. . 61 Col Gas A Elec . 12% 12*. 12% 12 Com A Sou . 2 Consol c.as 38% 38% 38*2 38% Elec Pwr & Lit.. .. .. 5% E P & L pfd. 9% Int T A T . 12% 12 12% 11% Lou G A E 'A' 14*2 Nat Pwr A Lit 10% 10% North Amer 16 15% Pac OAE 17*8 Pub s*rv N J 34*8 34% So Cal Edison 15', Std Gas 8% Std Gas pfd,. 5% United Corp 51 2 5% Un Gas Imp 16 % 16*8 Ut Pwr A Lit A' 3 Western Union 47*2 46% Rubbers — Firestone 17’, Goodrich 13 12% Goodyear 32 31% U S Rubbar. 15% 15% 15% 15% U 8 Rubber pfd 22*, Kef Spring 2% Amusement*— Fox Thea ... 14', Lpetrs Inr 1 26% 27 25*, Radio Corp 7 6% Warner Bros .... 6S 6% 6% 6% Armour A *H 3% 3% 3% Borden Prod 22% 21% Cal Packing 18%

Can Dry G Ale.. 26% 26% 26% 25% Coca Cola . .. 96% Cont Bak A 9 8% 9 9 Corn Prod 76 75% 75% 75 Crm of Wheat.. 27% 27%, 27V 8 27% Gen Foods 33% 33% 33% 34 Gold Dust .. ... 17 G W Sugar 35 34% 35 34% Int Salt 20 Loose Wiles ... .. 36% Natl Biscuit 41% 40% Natl D Prod 14 14 S Porto Rico Sug ... 40'% 39% Std Brands 23% 23% 23% 23% United Fruit 58% Wrigley 51% Retail Stores— Asso Dry Goods 11% Gimbel Bros . . 4 Hahn Dept Sts 4% Jewel Tea ... 28 28 Krcsge S S ' 10% Kroger Groc ... ... 90% Macy R H 43% May Dept St 25 Mont Ward 19 is% Penny J C ... 41 Safeway St ... 37% 37 Scars Roebuck .... ... 37% 37 Wooiworth ... 36% 36(4 Aviation— Aviation Corp .... ... 7% 7 Douglass Air ... ... 13% Curtiss Wright 2% Curtiss Wr A . . . 4% 4 Nor Am Av ... ... 5 United Aircraft. 28% 28% 28% 27% Chemicals— Air Reduction ... .. 96% Allied Chem . 129% 128 Am Com Alcohol 53 1 2 53 53 51 Col Cai bon .. 51 % 49 Com Solvents . 33 32% 33 22% Dupont 77 76% 77 75% Freeport Tex 44 43% 44 ~2% Liquid Carb 24% 23 Math Alkali . . 37 Tex Gulf Sulph. 38’4 37% 38% 37% Union Carbide 39.% 38% U S Ind Alcohol. 66% 65® 66% 65% Natl Dist 92 9'l % 92 §O% Drugs— Cotv Inc 3% Lambert ... ... 28% Lehn & Fink 17% 17 Zonite Prod ... ... 5% Financial— Adams Exp 7% 7% 7% 7% Allegheny Corp 3% 3% Chesa Corp 30% 30% Transamerica ... ... 5% 55/, Tr Conti Corp.. .. ... 4% 4% Building— Am Radiator .. . 12% U.% L 2% 12% Gen Asphalt ... 14 133, Int Cement ... ... 29*4 Johns Manville . 49% 49 49% 48% Libby Owens Gls 28% 28-% 28% 27% Otis Elev 12% 12% 12% 12% Ulen Const 2% Miscellaneous— Am Bank Note.. . ... . 11% Am Can 89% 9 99% 89 Anchor Cap 20% Brklvn Man Tr. . . 27 26% Conti Can 63% 62% Eastman Kodak 71% 711 _ Owens Bottle 72. Gillette ... 107/. 153,1 (Hidden 14% 14% W % 741, Indus Ravon 69 68”. Inter Rapid Tr .. gj* Real Silk Hose.. .. ... 8% g.%*

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Nov. 1— 4 • „ , Bid. Ask American Bank Stocks Corp 75 87 American & General Sec A.. 525 600 Basic Industry Shares 274 British Type Inv Tr Sh 43 .44 Collateral Trustee Shares A . 4.00 Corporate Trust Shares (oldi 194 2.00 Corporate Trust Shares (new) 203 207 Cumulative Trust- Shares 3.60 3 70 Diversified Trust Shares A .. 625 Diversified Trust Shares 8.. 662 687 Diversified Trust Shares C... 268 278 Diversified Trust Shares D... 450 460 First Insurance Stock Corp.. 130 1.40 First Common Stock Corp ... 84 99 Fixed Trust Oi! Shares A 7 50 Fixed Trust Oil Shares B .. 639 Investors Inc 15.75 16 00 Low Priced Shares 485 500 Mass Inv Trust Shares 16 25 17 50 Nation-Wide Securities 2.86 2.90 North American Trust Sh (53) 1.63 North American Tr Sh t 55-56) 206 210 Petroleum Trust Shares A ... sOO 11.00 Selected American Shares.... 220 Selected Cumulative Shares.. 600 6.25 Selected Income Shares 3.00 340 Std American Trust Shares A 2.50 260 Trust Shares of America 2.65 275 Trustee Std Oil A 4.75 500 Trustee Std Oil B 428 438 U S Electric Lt A Pwr A ... 11.12 Universal Trust Shares 2 65 2.75

Federal Farm Loan Bonds

(By Blyth & Cos.. Inc.) —Nov. 1— Bid. A-%c. 4s Nov. 1. 1957-37 85% 86% 4s May 1. 1958-38 85% 86% 4'4 s Julv 1. 1956-36 86% 87% 4%s Jan 1. 1957-37 86% 87% 4%s Mav 1. 1957-37 86% 87% 4%s Nov. 1. 1958-38 86% 87% 4%s Dec. 1. 1933-32 100 100% 4%s Mav 1. 1942-32 91 >2 2% 4%s Jan. 1. 1953-33 89 90% 4%s Julv 1. 1953-33 89 90% 4%s Jan. 1. 1955-35 89 90% <!-•* JulV 1. 1955-35 89 90% 4%s Jan 1 1953-33 89 90% 4%s Julv 1. 1953-33 91% 92% 4%s Jan 1. 1934-34 91% 92% 4%s Julv 1. 1954-34 . 911 2 9?% 5s May 1. 1941-31 96% art. 5s Nov. 1. 1941-3' 96% 9714 Home Loan 4s. July 1, 1951 84% 85%

Daily Price Index

Ru l nited Preftg NEW YORK Nov 1.- Dun <fc Brad--str?ft s dailv weighted Dr.ce index of 30 b:'s:c commodities. comDiled for the United Press: (1930-1932 Average. 100) Today 98 99 Yesterday 100 28 Week ago 101 54 Month ago loi 69 Year ago 73 56 1933 High i Julv 18 ‘ 113 52 1933 Low Jan 20> 67 86 iCoovright 1933. Dun & Bradstreet. Inc.l NEW YORK COFFEE FUTURES Nov. 1— SANTOS High. Low. Close January 7 94 Mareh 8 10 7 99 7.99 Mav 8 15 8.01 8.01 Julv 8 14 8.02 8.02 September 8 22 December 3.95 7.92 7.92

STOCK SHARES MOVE UPWARD IN FAST TRADE Wall Street Accepts New Proposal for Recovery Administration.

Average Stock Prices

Average of thirty it iustrials for Wednesday, high 89 92 low 88 83. last 89 62. up 146 Average of twenty rails. 36.36. 35.27, 36 16. up 22 Average of twenty utilities. 23 30. 22 38. 22.91. off .17. Average of forty bonds. 82 44 off .15. BV MAX BUCKINGHAM United Press Financial Writer NEW YORK. Nov. 2.—The stock market had a stronger tone at the opening today and trading was more active than in recent sessions. Opening blocks of stocks ranged up to 3,000 shares. Cotton prices advanced 1 to 5 points. Initial gains ranged from fractions to more than 1 point. Wall Street agreeably accepted the new proposal for the recovery administration, industrial self-gov-ernment. The dollar was a little easier in foreign exchange transactions, while the government gold price today went to $32.36, a 10cent advance and reflecting a dollar worth 63.88 cents in gold. The stronger tone in the market was general in all groups with the exception of the utilities, which eased off fractionally on initial transactions.

Bank Clearings

INDIANAPOLIS STATEMENT —Nov. 2 Clearings $2,209,000.00 Debits 5,167.000.00 TREASURY STATEMENT —Nov. 2 "IWf Bal&hfcfc for Oct. 31 $909,161.293 61 Misc. Int, Rev. Rcpts 2.182,490.11 Customs recps (mo. to dt.).. 31.937,561.84 New York Curb By Abbott, Hoppin & Cos. -Nov. 1— Close Close Allied Mi 115.... B'i Gen Aviation... 5*4 Alum Cos of Am 53'g Glen Alden Coal 12>2 Am Cyanide B. 9% Hiram Walker.. 39 Am Gas & El.. 22 Hud Bav Min... 9% Am Superpower 3%lHumble Oil ... 85 Ass Gas & El.. % Imperial Oil Ltd 12 Atlas Corp .... 9% Int Petrol . ...184 Ax ton Fisher T6O Lake Shore Min 50% Brit Am Tb A. 27% Lone Star Gas. 6 Can Indus A1 A 144 Massev Harris.. 4% Can Marc 2% Natl Av 8% Carrier Corp... 6' 2 Nat Bellas Hess 2% Cities Serv .... 2V* Newmont Min.. 49 Consol Gas Bal 52% Nia Hud Pwr. 5% Cord Corp ... 6% Novadel Agene. 44% Creole Petrol . . 10 1 2 Pan Am Airwys 42% Crown Cork Int 5% Penn Road ... 2% Deere &Cos . . 29 Sherwin Wms. . 41% Distillers Lim.. 19%'Std of Ind ... 29% Distillers Cp... 19 Std of Kv 15 Dow Chem .... 64% Technicolor Ind 9% El Bond & Sh. 15% Teck Hughes Gd 6 Fisk P.ubber . . 7 Un Pwr & Lt A 3% Ford of Can A 10% Wright Harg M 8 Ford Europe .. 5% I

Foreign Exchange

By Abbott. Hoppin & Cos. —Nov. 1— Sterling. England s4^o Franc France ; 0 602 Lira. Italy 0808 Bulges. Belgium 2140 Mark. Germany 3660 Guilder. Holland 6210 Peseta. Spain .'1289 Krone. Norway 2416 Krone. Denmark 2146

U. S. Government Bonds

By t nited Press New York. Nov. I.—Closing Liberty bonds: (Decimals represent 32nds). LIBERTY 3%s (32-47) 102 2 First 4%s (32-47) 102 14 Fourth 4%s 133-38) 103 1 Fourth 4%s called 101 21 TREASURY 4%s (47-52) 109.25 4S 144-541 105.26 %S (46-56) 130.30 3%s (43-47) 101 9 3%s (31-43) March 101.14 3%s (40-43) June 101.12 3'as '46-49) 99 12 3s (51-55) 97.16 3%6 (41) 100.18 4%S (45) 101.3 In the Air Weather conditions at 9 a. m Southwest wind, 6 miles an hour; temperature. 64; barometric pressure, 30 at sea level; general conditions, high, thin, scattered clouds, smoky; ceiling, unlimited; visibility, 5 miles. Studebaker Orders Heavy By Times Special SOUTII BEND. Nov. 2.—The Studebaker Automobile Company today announced that October orders were the best in five years. Officials said more than 7.500 orders were on hand for November. Kills Self With Rifle By Times Special MARION, Nov. 2.—Charles Shuff, 68. lifelong Grant county resident, ended his life yesterday, shooting himself through the heart with a ,22-calib‘er rifle. I .edge Sponsors Party Temple Rebekah lodge will give a card party Saturday at 241 East Ohio street, Room 403, Holliday building.

All. Chemical Am. Smelting Am. Can Am. Telephone Am. Tob. B Atchison Chrysler Con. Gas N. Y. DuPont Goodyear

Market Average nun Twenty Active Issues Listed on the N. Y. Stock Exchange.

OUSUST SEPTEMBER. OCTOBER, ~7 14 Zl 28 * U IB 2t l l6 Z3 30 i;; I ; i I r mon. dates i ; r 72 I 1 ; —7i * f?l ■ 1 -Hi —PP+-+ I —— 66 1 M -a 2\i — :: : -■■■ ■j■■ I ; j ---HI s i —| I|l ; 1 I~i T 53 ————— ——\— l ' b-53 t S* t 1 : 52 151 1 t 1 ! t 51 50 ; } i ! 50 x i —49 t4B i I : i : i ! : ’ * 48 5 "O J J 4 7 7 900 46 I ' T**oto . I i 800 f\ ! yr-A 5 5 |g - -

This daily record of the movements of twenty active stocks, aver*ged, gives a clear view of the market trend. Long pull movements and ds<ly variations are apparent at a glance.

THE INDIANAPOLIS TIMES

On Commission Row

—Nov. 2 Fruits Cranberries—Cape Cod early black*. 25lb box. $2. Grapes—California seedless, crate. $2 25; California Tokavs, crate. $1.60: Ohio Concords. 12 2-quart baskets, $1.75. Michigan Concords. 12-quart basket, 35c, New York, 17-lb. basket, 60c. Melons—California Honevdews, (8-9-12st *1.50; Persians (6s> per case. $2.50; Casabas 18s; per case $2 Pears—New York Bertletts (No. Is), per bushel. $2 25. Oregon Bar’.letts (135 150s--165s 1. $3.50; Avacos, Fla., 10s-16si, crate. $2 Bananas—Per pound. 5%c. Apples—-Wealthy, Wolf River, Grimes Golden Jonathan. Florida 146s to 80s', $5 50 a bushel; fancy Jonathans, $2 a Box. Grapefruit—sl 40®1.60. Prunes—ldaho Italian. 16-lb. lugs. *l.lO. Oranges—California Valencias. $3.50® $4 25 a box Lemons—(36os), *3 25; (4325), *5. Vegetables Cabbage—lndiana Dannish, 50-lb. bag. sl. Eastern Dannish, 50-lb. bag. *1.15. Onions—Utah Spanish. 50-lb. bag, $1 35; Western white. 50-lb. bag. *1.50; Indiana white, 50-lb. bag. $1.25; Indiana, yellow, 50-lb. bag. 85c; 10-lb. bag, 22c. Beans—Round stringless, bushel, *1 75. Beets—Home grown, dozen, 25c; bulk per bushel, 85c. Carrots—Home grown, dozen, 35c; bulk, per bushel, sl. Cauliflower—Utah, (lOs-lls-iJs) crate. *1.50. Celery—Michigan Mammoth, bunch, 60c; medium bunch. 40c; hearts, 30c; 16 bunch flat crate, 85c. Lettuce-rHomc grown. 15-lb. basket, 60c; home grown, Endice, dozen, 40c; Iceberg, best 5s crate, $3.50 hothouse, 15-lb. basket 90c. Radishes—Buttons, Ohios, dozen, 60c; per 2 dozen basket, *l. Spinach, broadleaf, per bushel, 75c. Turnips, per bushel, 75c. Tomatoes—California, $2.25, 30-lb. basket hot house, *l.lO, 8-lb. basket. Potatoes—Northern Round White. 100-lb. bag, *1.50; R. R. Ohios, 100-lb. bag, $1 60; 15-lb. bag, 33c; Wyoming triumphs, 100lb. bag, $2.10. Sweet Potatoes—lndiana Jerseys No. 1, hamper, $1.40; Nancy Halls, per bushel.

Produce Markets

Delivered In Indianapolis prices—Hens. 8c; Leghorn hen3, sc; heavy breed springers, 8c; Leghorn springers. 6c; cocks. 5 lbs. and up, sc; under 5 lbs. 4c: ducks. 4% lbs. and over, full feathered and fat, sc; under 4% lbs., 3c; geese, full feathered and fat, 3c; No. 1 strictly fresh country run eggs, 20c, 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@26c: No. 2, 22® 23c. Butterfat. 18c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Nov. 2.—Eggs—Receipts. 2.095 cases; market about steady; extra firsts, 21%c; dirties, 12@14%c; current receipts, 18@19%c. Butter—Receipts, 11,859 tubs; maTket unsettled; specials, 23% ©24c; extras. 23c; extra firsts. 20%'a 22c; firsts, 18%®19c; seconds, 17%®18c; standards, 21c. Poultry—Receipts. 40 trucks. 1 car; market unsettled; fowls, 8® 10c; Leghorn chickens, 8c; Leghorns, 7c; Rock springers, 10©10%c; ducks, 10%c: colored ducks, 9V 2 c; geese. 10c; turkeys, 1245 14c; roosters, 8c Cheesy Twins w 12%®12%c; Longhorns, 12%®13c. Potatoes —Supply heavy, demand and trading slow; market weak; Wisconsin round whites. $1.05®1.10j Minnesota and North Dakota Red River Ohios, $1.05(5 1.10; North Dakota Irish cobblers. $1.10; Idaho Russets, $1.80: 'No. 2, $1.15(51.20; combination grade. $1.30® 1.40; South Dakota round whites and Early Ohios, 90@95c; shipments. 523. arrivals, 95; on track. 417.

The City in Brief

FRIDAY'S 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, luncheon, Columbia Club. Harvard Club, luncheon. Lincoln. South Side Merchants’ NBA celebration. Fountain Square, 3 p. m. Indiana Stamp Club, meeting, Lockerbie. 8 p, m. Altrusa Club, luncheon. Columbia Club. Osteopathic Association, dinner, Washington. 6:30 p. m. Royal Arcanum- meeting, Washington, 8 and. m. Brokers’ Association, dinner, Washington, 6:30 p. m. STANFORD CAMPUS TO STAY DRY, SAYS HEAD President Wilbur Says Repeal Will Not Affect College. By United Press PALO ALTO, Cal., Nov. 2.—The remainder of the United States may be dripping wet, but Stanford university will remain “bonedry,” as far as its campus is concerned, regardless of outcome of the national prohibition repeal movement. This warning to undergraduates who might be contemplating quenching their thirst “when and if” prohibition is repealed, was contained in President Ray Lyman Wilbur’s welcoming address to students. “Our regulations regarding alcolhol were in effefet long before the eighteenth amondment was adopted,” the former Hoover cabinet member declared. “We expect to maintain them and the university wants no misconception about it.” BEER BREATH IS NO BAN, RULES OFFICIAL Members of Board May Serve Regardless of Taste. By United Press BOISE, Idaho, Nov. 2.—-Board of education members may serve in Idaho regardless- of their standing on the intoxicating ability of 3.2 per cent beer, Attorney-General Miller's office had opined. Citizens of Athol, in northern Idaho, questioned the qualifications of a board member who sold, or consumed, the beverage.

Int’l. Harvester Johns-Manvillo Nat. Biscuit Pub. S. of N. J. Sears Roebuck Stand, of N. J. Un. Aircraft U. S. Steel Union Pacific Westinghouse

PORKER PRICES STRONG TOl5 CENTS HIGHER Cattle Market Active and Steady: Lambs Hold Stationary. An increase of 15 cents featured hog trading at the local stockyards this morning. Most all grades were active and strong. The bulk, 160 to 300 pounds, sold for $4.05 to $4.15. Classes weighing 300 pounds and up were salable at $3.90 to $4; 130 to 160 pounds brought $3.65 to $4. Lightest grades scaling 100 to 130 pounds sold at $3.15 to $3.40. Receipts were estimated at 5,000; holdovers, 214. Cattle trade was active and strong on good light steers and best heifers. Few early sales held largely at $3.50 to $5.50. Other classes, especially weighty steers and low grade heifers, remained dull. Receipts numbered 500. Vealers held stationary, selling at $6.50 down. Receipts were 500. Lamb market was slow and unchanged, with ewe and wether kinds selling from $6 to $6.50. Some grades held slightly higher. Bucks sold at $5.50 down. Throwouts ranged down to $3.50. Receipts were 1,000. With practically no action evident in hog trading at Chicago, initial asking was slightly higher. Early bids scarce. Bulk prices w r ere not established. Receipts were estimated at 17,000, including 5.000 directs; holdovers, 3.000. Cattle receipts numbered 5,000; calves, 1,500; market steady. Sheep receipts were 8,000; market unchanged'. HOGS Oct. Bulk. Top. Receipts. 26. *4.35© 4.4 Q $4.40 6 000 27. 4,35® 4.40 4.40 8,000 28. 4.35(5) 4 40 4 40 3,000 30. 4.00®> 4.10 4.15 10,000 31. 3.90®. 4.00 4.05 8.000 Nov. 1. 3.90(5! 4.00 4.05 5,000 2. 4.05® 4.15 4.15 5,000 Market, higher. (140-160) Good and choice....* 3.80® 4.00 —Light Weights—-(l6o-180) Good and choice.... 4.10 (180-2001 Good and choice.... 400 —Medium Weights—-(2oo-2201 Good and choice.... 4.15 (220-250) Good and choice ... 4.10<5 4.15 —Heavy Weights—-(2so-350) Good and choice.... 4.05 (290-350) Good and choice.... 3.80® 3.90 —Packing Sows—(3so down) Good 3.50® 3.80 (350 up) Good .... 3.35(5 3.60 (All weights) medium 3.00® 3.50 —Slaughter Pigs—-(loo-130) Good and choice.... 3.15® 3.40 CATTLE Receipts, 500; market, steady. (1.050-1,1001-Good and choice $5.00® 6.25 Common and medium 3.00® 5.00 (1,100-1.500) Good and choice 5.00® 6 00 Common and medium 4.00® 5.00 (650-750) Good and choice 5.00® 6.25 Common and medium 2.75® 5.00 (750-900) — Good and choice 4.50® 6.00 Common and medium 2.50® 4.50 —Cows— Good 3.00® 3 50 Common and medium 1.85® 3.00 Low cutter and medium ... . . I.oo® 1.85 —Bulls (yearlings excluded) Good (beef) 250® 3.25 Cutter, common and medium.. 1.50® 2.50 VEALERS •> Receipts, 500; Market, steady. Good and choice $ 6.00® 6 50 Medium . 4.00® 6.00 Cull and common 2.00@4 .00 —Calves—-(2so-500) Good and choice .... 4,00® 500 Common apd medium 2.00® 4.00 —Feeder and Stocker Cattle—-(soo-800) Good and choice 4 25® 5.00 Common and medium .... 3.00# 4.25 (800-1.500) Good and choice 4.25® 5.00 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,000; market, steady. —Lamos—(9o lbs. down) Gd and choice.* 6.00® 6,50 (90 lbs. down) com. and med. 3 00® 6.00 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75 Other Livestock BY UNITED PRESS CHICAGO. Nov. 2. Hogs Receipts, 17.000, including 5,000 directs; market slow, 10 to 15c lower than yesterday s average; 180-300 lbs., $4®4.20; extreme top. $4/25; light lights held below $3.85; pigs, $3.50 down; packing sows. $3.20® 3.60; light lights, 140-160 lbs., good and choice. $3.60® 3.85; light weight. 160-200 lbs., good and choice, $3.75® 4.15; medium weignts, 200250 lbs., good and choice. $4.05® 4.25; heavy weights. 250-350 lbs., good and choice. $3.65© 4.20; packing sows, 275-550 lbs., medium and choice. s3© 3.65; slaughter pigs, 100-130 lbs., good and choice, s3® 3.65. Cattle—Receipts, 5,000; calves—Receipts, 1 500; slow; no reliable outlet again for medium or weighty steers with either local or outside accounts; yearlings and light steers not as active as recently, steady to weak; most steers over 1.000 lbs. without bids: odd lots mixed lightweight yearlings sold at $6.30; only few cattle sold, these ss© 5.65; cows steady, bulls strong. Slaughter cattle and vealers: Steers, 550-900 lbs., good and choice. $5.25® 6.50; 900-1100 lbs., good and choice. $5©6.25; 1100-1300 lbs., good and choice. $4.75©6.25: 1300-1500 lbs., good and choice. $4,254/6; 650-1300 lbs., common and medium, $2.75© 5; heifers. 550-750 lbs., good and choice, $5,504/6.40; common and meaium. $34/5.50; cows, good, $3©4.25; common and medium. $2,254/3; low cutter and cutter $1,354/ 2.25; bulls, yearlings excluded, good beef. $3.15© 3.40; cutter, common and medium. s2© 3.25: vealers. good and choice. $5®6.50; medium. s4©s; cull and common, s3© 4; stocker and feeder cattle; Steers. 550-1050 lbs., good and choice, $3.75®5; common and medium, s2© 3.75. Sheep—Receipts. 8.000: fat lambs opening fully steady; some sellers asking higher; native lamos, $6.50© 6.75; best held up to $7; sheep and feeding lambs firm. Slaughter sheep and lambs: Lambs. 90 lbs. down, good and choice. $5.75® 6.90; common and medium. $4.50® 6: 98-110 lbs good and choice. $1.50©2.75: all weights' common and medium. $1.25® 2.25: feeding lambs, 50-75 lbs., good and choice, 06®6.50. i ™L TT ? B ,H RGH ' Nov - 2 —Hogs—Receipts, 1.200; holdovers, 1,200; active, 5 to 10c higher; desirable weights hogs, top and bulk. $4.35; 170-220 ids.. $4.30© 4.35; 220250 lbs.. $4©4.35; 250 lbs. up around $4 down; 150 lbs. down. $3.50© 4; packing sows. $3.25® 3.75. Cattle Receipts, 60; nominal. Calves Receipts, 150; very slow: barely steady on good and choice vealers; generally $6.50 with selected kinds up to $7; qull and common. $2.50© 4.50. Sheep—Receipts, 1.000; early sales fat lambs steady; one load 75-lb. lambs at $6.50; others steady. LAFAYETTE. Ind., Nov. 2.—Hog market 10 to 15c higher; 200-250 lbs., $3.90© 4: 250-300 lbs.. $3.804i 3.85; 300-350 lbs., $3.75; 150-200 lbs.. $3.75® 3.90; 130-150 lbs.. $3.25 ®3.50; 130 lbs. down. *3: roughs. $3.35; top calves. $5.50: top lambs. $6. CLEVELAND. Nov. 2.—Cattle—Receipts. 225: market slow and steady; prices unchanged, with steers holding between $3.25© 6.65, according to w eights and grades; common to good heifers, S3®4 50: good cows, $2.75© 3.25; bulls, *2.25® 3.25. Calves—Receipts. 250: market steady with trading dull; choice to prime. $7©7.50; choice to good. s6.so'® 7. Sheep—Receipts. 2.000: market steady; choice wethers. *2.50 ®3.25: spring lambs, choice, $6.25®6.50; good to choice. s6® 6.25; common and dull. $2.50© 4.50. Hogs Receipts, 700; salesmen asking steady prices; no sales completed, with market at standstill. FT. WAYNE. Nov. 2.—Hogs—lo to 15c higher: 20-225 lbs., $4.05: 160-200 lbs.. $3.95; 225-300 lbs. $3.95; 300-350 lbs.. $3 80; 150-160 lbs.. $3.75; 140-150 lbs.. $3.55; 130140 lbs.. $3.30; 100-130 lbs.. $3: roughs. $3; stags. *2. Calves. s6® 6.50; lambs. $6. EAST BUFFALO. Nov. 2.—Hogs—Receipts. 1.100: holdovers. 1.069: active to all interests: 10 to 15c over yesterday's average: desirable. 200-250 lbs. 54.50: bulk 160-210 lbs.. $4.40. few. $4.45: 120-150 lbs.. $4©4,25. Cattle —Receipts. 350: little done, few grass steers and heifers weak to lower at $4.15; cutter cows. $1.25® 2. Calves— Receipts. 50: vealers unchanged; good to choice. $7: common and medium. $4.50® 5.50. Sheep—Receipts. 600; lambs slow, steady to 10c higher: good to choice ewes and wethers. $6 25® 6 60; medium kinds and mixed offerings. *5.50© 5 75: throwouts. $5 and downward to $2.50: handyweight ewes, $2.50® 2.75; mixed sheep. *1 25® 2 50. By Times Special LOUISVILLE. Nov. 2.—Cattle—Receipts, 250; slow and about steady on all classes: bulk common to medium grass steers and heifers. *2.75© 3.75: better finishea fed offerings quotable. $4.50® 5.50; bulk beef cows. $1.75©2.50: low cutters and cutters. isc© $1.25: sausage bulls mostly *2 50 down: bulk common to medium native Stockers and feeders. *2© 3; desirable Hereford heifers stock calves, mostlv $4.50. Calves—Receipts. 200; steady; bulk better grade vealers. $4.50©5: few strictly choice to $5 50; medium and lower grades. $4 down. Hogs—Receipts. 600: market, 10c higher: 180-235 lbs., $4 10: 240-275 lbs . *3.65. 280 lbs. up. $3 40: 140-175 lbs . $3 30: 100-135 lbs $2 60: 95 lbs. down. $2.10; sows. *2.25: $1 20. Sheep—Receipts. 150: mostly s.eady: bulk medium to good lambs, *5.50© 6: choice kinds to s€.so: bucks mostly {4 50©5; throwouts. *3 50: fat ewes. 1161 i head. Receipts vesterday —Cattle. 235; calves, 225: hogs. 758; sheep. 382 Shipments yesterday—Cattle, 94; calves. 105, sheep, 368. i

Today and Tomorrow— Upper and Lower Limit on Devaluations of Money Expected to Be Fixed by U. S. BY WALTER LIPPMANN

THE relationship of gold and currency and credit and price are obscure. They are so obscure that one is entitled to suspect any one who pretends that money is the subject of an exact science, and that he knows that science. Mathematical equations and so-called economic laws do throw light on aspects of monetary situations, but in the'framing of a particular policy there are no exact rules. For that reason, it is best to keep continually in mind a few simple ideas. They are a protection against becoming a dogmatist or a crank. Perhaps the most important of these simple ideas is that there is

no instantaneous connection between money and the one, for example, who thinks that you can change the gold content of the dollar at 10 in the morning and produce a corresponding change in the price level by 3 in the afternoon is bound to be disappointed. The price level is a complicated average of millions of particular prices; for example, of cotton on a plantation in Texas, on a plantation in Georgia, at a warehouse in Galveston, on an exchange in New York, in Liverpool, of a shirt in Massachusetts, of a pair of shoes in Missouri, of a piece of land in Minnesota, of a tooth brush in Chicago, and so forth and so on. a a b IT is absurd to suppose that you can name a figure for the gold value of the dollar in Washington and automatically and immediately alter all the millions of prices of goods, and land, and securities. Such an instantaneous response can be produced only temporarily for a few things which are highly sensitive to speculation

On the other hand, it is almost equally absurd to argue that a change in the value of money has no effect on the price level. There is every reason to believe that it has. But the effect is produced only over a period of time. If. therefore, we recognize this factor of timje we shall be bound to conclude that.the effects of a change in the value of the dollar will be

realized only gradually, and that, for example, with the dollar depreciated 35 per cent we have still to feel the full effects on our prices. There is another important and simple idea. It is that no one can predict exactly how much the average of prices, much less how much particular prices, will rise as the result of a certain amount of devaluation. Therefore there is no point in pretending that the exact amount of devaluation can be scientifically ascertained. A dollar between 60 and 70 cents gold probably will raise most prices very considerably in the course of time. But nobody knows whether a 68-cent dollar or a 63-cent dollar or a 61-cent dollar will produce the exact amount of increase in prices that he happens to think desirable. B B B 'T'HERE are some who think there is a mathematical formula. Thus, last June, when I was at the London conference I wrote an article suggesting that a depreciation of one-third was as good a guess as any. The next day I received a tremendous cablegram from an organization of monetary enthusiasts in New York telling me to look out, and that the dollar must be devalused to 62 and a fraction cents. They had figured it out exactly. But only last week these same enthusiasts informed me that the dollar ought to be 50 cents. Again they had figured it out exactly. Well, I do not think they have figured it out exactly because I do not believe that it can be figured out exactly. The conclusion I draw from these two ideas is that the administration will obtain all the benefits that can be had from a change in the value of money by proceeding now

Chicago Stocks By Abbott. Hoddld & Cos “ TOTAL SALES. 22,060 SHARES —Nov. 1— High. Low. Close. Altorfer Bros 12 Asbestos Mfg 3% 3% 3% Associated T & T 6%.. 8% 7% 8% Automatic Washer ... 2 Bendix Aviation 11% 11% 11% Berghoff Brew Cos 8 7% 8 Borg Warner 14% 13% 14% Brown Fence & Wire A .. 5% E L Bruce Cos ... 14 Butler Bros 3% 3% 3% Cent & So West 1% Chi Ar North Western.. .. ... 7 Chicago Corp com .... 2% 2% 2% Chicago Corp pfd 22 21% 22 Chicago Mail Order ... 14 13% 14 Chicago Yellow Cab .... ... 12 Cities Service 2% 2 2% Coleman Lamp & S ... 6% Commonwealth Edison. 40 39 39 Cord Corp 6 7/ a 6% 6% Crane Cos ... 5 Dexter Cos ... 5 Eddy Paper 6 Electric Household ... 9% Fitzsimmons & Connell 14% 14 14 General House Util ... 13 Godchaux <B) ... 5% Great Lakes Dredg . 18% 17% 18% Grigsby-Grunow 1 % Illinois Brick 4 Kalamazoo Stove ... 16 Kellogg Switch pfd 25 iKngsbury Brew Cos. .. . 7% 7% 7% La Salle Extension Univ .. ... % Libby-McNeil ... 3% Lynch Corp 30 29V g 29% Marshall Field 12% 12 12% Middle West Utilities ... 11% Miller <ft Hart pfd ... 7% Monroe Chemical pfd 25% Muskegon Mot Spec A.. .. ... 7 Noblitt-Sparks Ind Inc. .. ... 23 Prima Cos 9% 8 9% Raytheon V T C 2% Raytheon pfd % % % Sears Roebuck 36 Swift & Cos 13% 12% 13 Swift Internacional .... 22% 22 22 Thompson JR 17 U S Gypsum com 45 Utility & Ind 1 Utility & Ind pfd 3 Walgreen Cos com 17 Ward. Montgomery A. 60% 60 60 Zenith Radio ... 1% Other Livestock BY UNITED PRESS E£ST ST. LOUIS. 111., Nov 2.—Hogs— Rece *s, 5.500, including 300 through; marku. steady and strong; top. $4.15: bulk 160-250 lbs., *4,10®4.15: heavies scarce: few 140-150 lbs.. *3.80® 4; 100-130 lbs., $3.25© 3.65: sows mostly $3.15® 340. Cattle Receipts, 2.800; calves. 1,000; market, opened generally steady with very little done on steers: a few natives $5 down; two cars Oklahoma grass steers unsold; mixed yearlings and heifers. *4© 5.85: cows. $2.25®2.75: top. $3.50. low cutters were $1.25®1.50: top. sausage bulls. $2.60; top vealers. $6; slaughter steers. 550-1,100 lbs., good and choice. $5.25® 6.25: common and medium. $2.75© 5.50: 1 ICO-1.500 lbs..’ choice. ss© 6; good. $4.50 © 5.75; medium. $3 75® 5.25. Sheep—Receipts. 1.500: market, no early sales; few bids steady at s6© 6.25 for desirable lambs: asking up to $6.50 or above: indications steady on throwouts and sheep: lambs. 90 lbs. down, good and choice. s6© 6.50; common and medium. $3 50® 6; yearling wethers. 90-110 lbs good and choice $4 ®5: ewes. 90-150 lbs., good and choice. *1.50® 2 75: all weights, common and medium, sl®2. CINCINNATI. Nov. 2. - Hogs—Receipts. 3.500 head, including 443 direct and through; holdover. 420: mostly 5 to 10c higher on 170 lbs. up: lighter weights and packing sows fully steady; top and bulk good to choice. 170-250 lbs.. $4 20, few 250300 lbs. butchers. $4®4.10: better 150-170 lbs. $3.60® 3.85: desirable 130-150 lbs., $3.35® 3.60: bplk good packing sows. *2.75® 3: be't light weights. $3 25 Cattle—Receipts. 700 head: calves. 350 head; slow on best offerings: generally steady, demand fairly active for low cutters and cutter cows; most fed steers and heifers. $4.25® 5; one sizeable consignment very good handy weights held above $6.25: numerous plainer kinds from *3 50 down to *2.50 and below; bulk beef cows. $2 25© 3; low cutters and cutters. sl©2; mostly $1.25© 2; bulk bulls. s2®3: calves 25c lower; good to choice vealers. 55.50© 6.50; plainer offerings from $5 downward. Sheep—Receipts. 500 head: demand for fat lambs: mostly 25c lower. Quality offerings considered: bulk be/ter offerings. sß© 6.50; throwouts mainly from *5 downward; culls around $3; fat aged ewes at unchanged rates, mostly tl®2. HURT IN KICKING ERROR Motorist Dreaming of Robbers Puts Hole in Windshield. By United Press NEW MARTINSVILLE, W. Va., Nov. 2.—Odis Workman, 20. fell asleep in his parked automobile. He dreamed he was being attacked by robbers, and lashed out with a mighty kick at the nearest one. He woke up to find his right leg through the windshield, a tendon severed.

price level. Any

Lippmann

to fix an upper and lower limit of devaluation. The benefits of devaluation will develop only over a period of time; the exact amount of benefit can not be calculated in advance. In short, a de facto stabilization in relation to gold and to sterling within a fairly wide range will produce in the course of time and in an unpredictable amount about all the rise of prices that can be induced by manipulating the value of the dollar. There are technical reasons why final stabilization is probably undesirable now 7, but fixing the limits within which stabilization eventually will take place will not deprive us of any of the advantages of devaluation and will, of course, contribute greatly to the feeling of certainty and confidence upon which an economic recovery unquestionably depends. (Copyright, 1933) STRUCK BY STREET CAR, MAN, 82, DIES Tragedy Brings Traffic Toll in County to 103. An 82-year-old Negro, Peter DeHoney, whose adres sis unknown, died this morning at city hospital after being struck by a trackless trolley yesterday at Indiana ave-

nue and Vermont street. His death raised the total of traffic fatalities in Marion county

103

since the first of the year to 103. Witnesses said DeHoney evidently became confused and stepped into the path of the car, operated by E. L. Slinger, 32, of 1314 Ringgold street. NUPTIAL CONSENT IS GRANTED TO GIRL, 13 Prospective Bridegroom Is Only 17; Parents Give Sanction. By United Press FALL RIVER. Mass., Nov. 2.—A girl of 13 and a youth of 17 have received the permission of the probate court to marry here. They are Josephine Vasconcellos and Henry Carvalho. Both received the consent of their parents. M'GILL OPENS LIBRARY Students’ Reading Section to Have 5,000 Volumes. By United Press MONTREAL, Nov. 2.— A huge new library, designed to extend the scope of students’ reading in general cultural directions, has been opened in the arts building of McGill university, here. The library, made possible through the generosity of the Carnegie Corporation of New York, will contain nearly 5,000 volumes. Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES Anthracite sl4 25 Coke, nut size 8 75 Coke, egg size 875 Indiana, forked lump 5 50® 5 75 Indiana, egg 5 25® 550 Indiana, mine run 4 75 Kentucky lump 7.00 Pocahontas lump 8 25 Pocahontas egg 8 25 Pocahontas forked lump 925 Pocahontas mine run 7.25 New River smokeless 8 25 West Virginia lump 675 West Virginia egg 650 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin. Births Girls George and Lorene Fowler. Methodi3t hospital. Bob and Perna Mahoney. 528 Warren. Bovs Harry and Juanita Federspill. 1648 N. Medford. Deaths Nathan Jines. 70. 4200 West Vermont angina pectoris. Jimmi? Wyant. 5 months. Riley hospital. chronic mastoiditis. Elizabeth Smither. 81. Golden Hill, broncho pneumonia. John T Fonner. 60. Methodist hospital appendicitis. William Henry Lewis. 64, Methodist hospital, renal calculus. Amanda Worley. 69. 131 Dickson chronic interstlMal nephritis Frank R. Harding. 77. Sine sanitarium chronic myocarditis. Georgia Smith. 67. 3999 Sutherland chronic myocarditis. Elizabeth Garner. 75. St Vincent hospital hypostatic pneumonia. Esther M Garrity. 64. 5850 East Washingtoß. chronic myocarditis Wesley Young. 42 City hospital, pulmonary tuberculosis.

Joint Stock Land Banks Recent analyses of the general Joint Stock Land Bank situation together with opinions as to the proper policy in connection with these bonds, aa prepared by leading statistical organizations, are avaii-ble upon reqnest. office Rlvth & C* o Inr N>w York ’ chi “** Continental VA I I IV..Boston, lu FranBnlldinc Phone LI. 6583

PAGE 17

GRAIN FUTURES STRENGTHEN IN ACTIVE SESSION Stronger Security List Is Factor: All Months Show Gain. BY HERMAN W. NICHOLS United Press Staff Correspondent CHICAGO. Nov. 2.—A1l grains advanced sharply at the opening of the Board of Trade today. A stronger stock market was a factor. Wheat futures climbed Hi to 2 cents. Corn was up \ cents and oats were % to 1% cents higher. Brokers still felt the market varied with news from Washington. Some encouragement was found in the current light country offerings and in the threat, of another heavy abandonment of acreage in the southwest as a Yesult of moisture deficiency. Corn and oats, though the latter has been experiencing especially featureless and dull sessions, have been materially stronger than the principal grain. Chicago Primary Receipts —Nov. 1— Bushels Today Last Week Wheat 535 000 408.000 Corn 1.142.000 701 000 Oats 205.000 72,000 Chicago Futures Range —Nov. 2 Prev. High. Low. 10:00 Close. WHEAT— Dec .85% 83% 84 .83 May 88% .86% 86% .85% July 85% .84% .84% .83% CORN— H** 0 .42% .42 .42% .41% May A*. -49 .48% .48% .47% July .50% .49% .49% .49% OATS— Dec. .32% ,32% .32% .31% May "*s*& 35% -35% -34>^ JU RYEL** **”• 34 • 33 ’' .33% .32% Dec. ........ .55% .54% .54% .53% May .61% .60% .60% .60 July ■ 60% .59% .59% .59% BARLEY— Dec ... ... ... .44 May 49 48% ’.48% 48% July CHICAGO CASH GRAIN By L nited Press ..CHICAGO. Nov. I.—Cash grain close: Wheat—No. 1 hard. 87c: No. 3 mixed. 83%c; No. 5. mixed. 83c. Corn—(old) No. 2 mixed. 38%®40c; No. 3 mixed. 38%® 39%c: No. 4 mixed. 38c: No. 6 mixed. 35%c; No. 2 yellow. 40%©42c: No. 3 yellow. 40® 41c: No. 4 yellow 39%®40%c; No. 6 yellow, 37%®39c: No. 2 white. 41% ©.41%e: No. 3 white. 40%©41c: (new) No. 3 yellow. 37®39%c: No 4 yellow 34%® 36c: No. 5 yellow. 30%®36e; No 5 white. 35 %c. Oats—No 2 white, 33%©33%c: No 2 white, weevilv 32%c: No 3 white. 32® 33c. Rve—No sales Clover seed—sll©l4. Timothy—ss.so%6. Cash provisions—Lard. $5 07; loose. $4.95: leaf. *5.12; D. S. Bellies , TOLEDO CASH GRAIN By T'nited Press TOLEDO. NoNv. I—Grain close; (grain in elevators, transit billing i Wheat,—No. 2 red. 86®87c: Corn—No. 2 yellow 45%®) 46 %c. Oats—No. 2 white. 36©37c; Rv. No. 2. 684/69c, (Track prices, 28%c rate). Wheat—No. 1 red. 82%©83%c; No. 2 red. 81%®82%c Corn NNo 2 yellow. 41© 42c: No 3 yellow 46© 41c Oats- No. 2 white. 33©34%c: No 3 white. 32©33%C. 'Toledo seed close i Clover—December. 57.50: March. $7 75 Alsike— Cash. $8 50: December. $8.70. ST. LOUIS CASH GRAIN By United Press ST LOUIS, Nov. 1 Cash Grain Wheat —ln fair demand 3i~c lower; No 2 red, 86©87c; No 3 red. 86%c; No 2 red garlicky. 84c; No. 2 red smutty. 80c: No 1 hard. 85c; No. 2 mixed. 85c. Corn—ln fair demand. 2 to 3c lower. No. 6 mixed. 38c; No. 2 yellow. 41 ©42c; No. 3 yellow, 40%® 41%c; No. 2 white, 44©44%c; No 3 white, 42%c. Oats—ln fair demand. 2c lower; No 2 white. 34c: No. 1 mixed 32%c: No. 3 mixed, 32©32%c; No. 4 mixed. 30%c; No. 2 red. 35c. NEW YORK CASH GRAIN By United Press NEW YORK. Nov 1 Cash grain: Wheat-No 2 red. 98%c; No 2 hard winter 98%c. Corn—No 2. mixed. 43%c. Oats —No. 3 white. 31 %c. All quotes C. I. F. New York. Indianapolis Cash Grain —Nov. 1— The bids for car lots of grain at the call of Indianapolis Board of Trade, f. o. b , shipping point, basis 41% New York rate, were: Wheat-Weak; No, 1 red. 79® 80c; No. 2 red. 78© 79c; No *2 hard. 78© 79c Corn—Weak No 2 white 36%©37%c; No. 3 white. 35%©-36%c; No. 2 vellow. 33% ®34%c; No 3 vellow. 32%©33%c; No. 2 mixed. 32%®33%c; No 3 mixed. 31%® 32%c. Oats—Weak: No. 2 white 30® 31c: No. 2 white, 29© 30c. Hay—Steady. (F. o. b. country points taking' 23 %c or less rates to Cincinnati or Louisville). Timothy—No. 1. $6®6.50; No. 2 timothy. $5.50®6. —lnspections Wheat—No. 1 red. 2 cars: No, 2 red. 9 cars: No. 3 red. 1 car No 5 red. 1 car: No. 1 hard 1 car. Total. 14 cars. Qprn—. o. 2 white. 4 cars; No. 3 white. 3 cars: No. 2 vellow, 3 cars; No 3 vellow. 8 cars; No. 4 vellow. 7 cars; No. 5 vellow 5 cars; No. 6 yellow. 6 cars. Total 36 cars. Oats—No. 2 white, 2 cars; No. 3 white. 6 cars; No. 4 white. 1 car. Total. 9 cars. INDIANAPOLIS WAGON WHEAT City grain elevators arc paying 73 cent* for No 2 sort rea wneal. utner grade* on their merits. In the Cotton Market | Nov. 1 CHICAGO High. Low Close. January . 9.65 9.56 9.65 March 9.80 9 68 9.80 May 9 99 9 80 9 99 Julv 10 09 9 96 10 09 October 10 25 10 20 10.25 December 9 62 9 45 9 61 NEW YORK January 9 62 9 47 9 61 March 9 76 9 62 9 76 May 9 90 9.75 9.89 July 10.04 9 89 10 03 December 9.56 9 40 9.55 NEW ORLEANS January 9 58 * 47 9 58 March 9.73 9.57 9.72 May 9 86 9 68 9.86 July 9 98 9 85 9 98 December 9 50 9 33 9 48 CHICAGO FRUIT MARKET By t nited Press CHICAGO. Nov 2 Apples Michigan Jonathans. $1©125. Baldwin. 85c©*l. Pears—Michigan Kiefers and Illinois, COc® $1 bushel Carrots—lllinois. l%c a bunch. Spinach -Illinois and Missouri. 60® 65c a bushel. Beans—Southern green. sl® 1 75; Illinois green. 75c® $125 Cabbage—Wisconsin. 75c®*1. Grapes New York. 41® 42c, 12 quarts. Celery New York, 18© 19c Mushrooms Illinois. 15© 25c. Cucumbers— Southern. sl©2: centra! western, $1.50®2 25. Tomatoes—California' $1 50. Onion market—ldaho, Washington Valentias. 70® 85c Wusiconsin yellows. 65® 70c Indiana yellows. 65® 70c; Illinois t ellows. 65© 70c. midwestern whites. *1 NEW YORK RAW SUGAR FUTURES —Nov. 1— High. Low Close. January 1.29 126 1.28 March 1,35 1.30 1 32 May 1 40 1 35 1 38 July 1 46 1 41 1 43 September 1 49 1 46 1 49 December 1 31 1 26 1 28

Our Statistical Department Is equipped to offer complete analysis of all security holdings. T. P. Burke & Cos. Incorporated 217-221 II RULE TOWER PHONE Riley 8538 Ft. Wayne—LINCOLN HANK TOWER