Indianapolis Times, Volume 45, Number 154, Indianapolis, Marion County, 7 November 1933 — Page 11

NOV. 7, 1933.

Wall Street

Chamber of Commerce Resolution Bears a Wall Street Stamp—Meetings Hastily Called. By RALPn HENDERSHOT lime* Sgtcial Financial Writer

The adoption by the Chamber of Commerce of New York of a resolution asking that the United States return to a gold standard as soon as possible represents the expression of the strongest opposition yet encountered by President Roosevelt in connection with his monetary policy. It probably constitutes the opening gun in an organized effort to oppose the President in his entire recovery program. It haji been no secret that by and large Wall Street has opposed Mr. Roosevelt in almost every step of hfs program for economic rehabilitation.

Heretofore, it has found it inconvenient to show its distaste openly, however, feeling perhaps that its opinions would carry little weight. The President has made it plain that he is not especially impressed with its record, and the recent Washington investigation has not improved its standing throughout the country’. While the Chamber of Commerce can not be regarded as a Wall Street institution, it is reasonable to assume that last weeks resolution was a Wall Street product. All of the members of the committee which drew up the resolution and which presented a printed argument in favor of its adoption are interested in either commercial or investment banking, and, as such, may be classified as being affiliated if not directly identified with Wall Street. non Meeting Called Suddenly From all indications passage of the resolution savored of steam-roller tactics. The meeting was a

Ralph Ilendershot

special one. and apparently very few people knew it was to be held until a few hours before it was called to order. Some people thought it rather unusual that the chamber, which is state-wide in scope, would be put on record on such an important subject after so little deliberation. A full membership, it was suggested, might not have cared to express a lack of confidence in the President. Earl Harding, economist for the committee for the nation and a guest of the chamber at the meeting, asked that action be postponed. He suggested also that the chamber and the committee study the money question together. His recommendations were voted down. The committee, it will be recalled, is strongly behind the President in his monetary program, and probably is more truly representative of industry than is the chamber, having among its members such men as Frederic H. Frazier, chairman of the General Banking Cos.; Lessing J. Rosenwald, chairman of Sears-Rocbuck & Cos., and J. H. Rand Jr., president of Remington Rand, Inc. an n Open Discussion Healthy Sign Most people regard it as a healthy sign to have the monetary policy of the nation openly discussed. Such discussion, it is thought, may be expected to bring out some of the weakness, if any, in the program and make the change less of an experiment, it is also agreed in unbiased quarters that Wall Street should have its say in the matter, being better versed on the subject perhaps than any other section of the country. Consequently, any criticism of last week’s action by the chamber is likely to be directed at the manner in which it came about rather than at the opposition it expressed. In ell fairness it must be said that few of the so-called Wall Street remamed away for the “good of the cause.’’ Their firms were well repreleaders were in attendance at the meeting. They may or mav not have sen.ed, however, and their votes, which were by acclaim, helped in a big way to put over the resolution. 6

51 Students Initiated bv w . Butler Honorary Groups

Eighteen Others Pledged; Three Societies Hold Ceremonies. Butler university honorary organizations have been busy during the open six weeks of school with initiation and pledging ceremonies. A total of fifty-one students have been initiated into various honorary groups and eighteen persons have received pledge ribbons for the 193334 school year. Ceremonies of initiation have been held by Sphinx Club, junior men's honorary; Chimes Club, junior women's honorary, and Spurs, honorary society for freshman and sophomore co-eds. Groups which have announced pledge lists include Blue Key, upperclassmen’s honorary; Phi Eta Sigma, scholastic society for freshmen, and Theta Sigma Phi, professional journalism sorority. Initiates are; Sphinx—Edgar Baum, James Robinson. Karl Stipher, Addison Coddington, Cecil Marion, Frank Bridges. Robert. Johnson, Edwin Davis. Thomas Johnson. Newell Boles, Russell Errett. Wright Cotton, William Davis, Morris King, Dale Gilson. Ora Hartman, Fred Clifton, Ferry Zalin, Howard Campbell. Harry Koss and Kermit Bunnell. Chimes—June Wilcutts, Olive Steinle, Frances Messick, Ruth Hallstein, Mildred Grayson. Lucy Beasley, Laura Duffy, Ann Doudican and Edna Calbalzer. Spurs—Rebecca Blackley. Roseman,- Martin, Mary Jean Clark, Jane Crawford. Martha Coddington, Dorothy Aldag. Martha Alice Smith. Jean Southard, Mary Katherine Mangus, Ilene Rocap. Evelyn Wright, Alice Pottfus. Hazel Guio, Margaret Schoen, Betty Kallenn. Ruth RepschLager, Betty Humphries. Gale Thornbrough. Esther Hoover. Jeanne Helt and Virginia Wells. Students who recently have been pledged include the following; Blue Key—Cecil Ray, Karl Stipher. Fred Cretors, Howard Campbell. Karl Sutphin. William Thomas. Fred Clifton, Kermit Bunnell and Robert Stewart. Phi Eta Sigma—John Hutchens, Joseph Eastman and Oswald Phillipy. Theta Sigma Phi—Martha Banta. Ruth, Mary Morton, Marie George. Laura Duffy. Dorothy Campbell and Frances Brumit.

Bright Spots

By I'nited rrcs General Motors Corporation votes confidence in business by declaring extra dividend of 25 cents a share on common stock in addition to regular quarterly 25 cent dividend. Hudson Motor Car Company reports third quarter net profit of $19,043 against net loss of $1,597.760 in corresponding 1932 period. Superior Steel Corporation earns September quarter net profit of 523.387, against net loss of $174,977 in third quarter of 1932. Melville Shoe Corporation reports October sales of $1,829,453 up 21.5 per cent from October last year. G. C. Murphy Company reports October sales of $1,993,644, up 713 per cent from like 1932 month. Midland Steel Products Company earns third quarter net profit of $341,632, against a net loss of $159,052 in similar 1932 period. In the Air Weather conditions at 9 a. m.: West wind. 16 miles an hour; temperature. 40; barometric pressure, 30 04 at sea level: general conditions. high. thin, broken clouds and lower scattered clouds; ceiling, unlimited; visibility, 5 miles, hazy. Excavations near Laramie, Wyo.. have unearthed fossilized bones of a four-toed horse and a coryphodon, an animal which resembles a hippopotamus.

The City in Brief

WEDNESDAY EVENTS Kiwanis Club, luncheon, Columbia Club. Lions Club, luncheon, Washington. Purdue Alumni Association, luncheon, Severin. American Legion. Twelfth district, luncheon. Board of Trade. League for the hard of Hearing, meeting, Stokes building, 7:30 p. m. Home Builders, meeting, Washingto, 8 p. m. Associated Employers, dinner, Washington, 6:30 p. m. Associated Stenotvpists of America, dinner, Y. \\. C. A., 6 p. m. Thomas Marshall Colored Democratic Club will celebrate the return of beer Nov. 14 at Trinity hall. Twenty first street and Boulevard place, at Bp. m. The public is invited.

rim aW BY BRUCE CATTON

THE MERE LIVING," by B. Bergson Spiro, is one of those novels that excite the high-brows to spasms of praise, but that make pretty dull reading for the ultimate consumer. It may be, as sundry critics have said, that it is a fine artistic achievement. I wouldn’t know about that. I can only report that it just isn’t very interesting. In this book we meet four members of an ordinary middle-class English family—father, mother, son and daughter. We follow them through one day, watching their actiens, reading their thoughts and seeing life, by turns, through their four pairs of eyes. The father is a rather ineffectual business man. lord in his own castle, but something of a dub in the marts of trade. The mother, yearning over her children and suffering from the first pangs of an incurable disease, is a pathetic figure, never quite taking tanglible form, but hovering over the story like a ghost. The two children are more clearly drawn. The boy is a dreamy adolescent, intensely aware of life, not yet sure of himself, ecstatic and somewhat clumsy, eagerly savoring every minuto of his day. The girl is more sure of herself or thinks she is; we follow her to her boy friend's apartment, where she starts to have an adventure and then backs out, and then we listen in while she argues with her suspicious father about it. Finally, having told us all Df this, the book simply ends. And while it is a sincere and thoughtful attempt to give us a "slice of life,” I doubt if many readers will find it as absorbing as it might be. Stokes is offering it for sl.

Easy Money I. U. Professor Rewarded for Catching Thief. By United Press BLOOMINGTON. Ind.. Nov. 7. Professor E. A. Teter, Indiana university, has received a SSO reward for capturing a bank bandit. The capture was accomplished without firearms. The bandit was Rollie Spice, Bloomfield farmer, who held up the Bloomington National bank July 21 and escaped with $574. Teter witnessed the robbery, caught up with the bandit and talked him into returning the money. Spice was sentenced to serve ten years in the state reformatory at Pendleton. Officials of the bank paid the reward to Professor Teter, a biology instructor.

LESS CRITICISM SEEN IMPENDING FOR STOCK LAW Exemption of Small Issues Clears Way for Much Needed Financing. By Seripps-Hotcard Xetcspaper Alliance WASHINGTON, Nov. 7. The federal trade commission today I washed its hands of small-scale seI curities transactions by promulgat- ; ing a rule exempting from registra- | tion, under certain conditions, all I issues aggregating not more than SIOO,OOO. Coming as it does in the middle , of a campaign of criticism of the I “truth-in-securities'’ law, the exemption is calculated to allay some : of the protest to the effect that the enforcement of the law is interfering with orderly financing. The new rule gives a “green light’’ to all issues, not in excess of $15,000, secured by a first mortgage on the home of the issuer. Exceptions Cited And it gives the “go ahead" signal to all types of securities, real estate or otherwise, of no more than SIOO,000 aggregate, subject to the following, conditions: That the issue be sold for cash: That the-issuer's aggregate offerings, including the new issue, for the year preceding be not more than $100,000; That no other 'securities of the same class shall have been issued within the year preceding for any other consideration than cash; That the underwriter’s commission shall not exceed 10 per cent; SIOO Units Necessary That the issue, if stocks, be not divided into units less than SIOO, and if bonds or any other type of security, into unitsh less than s£(}o, except in the case of first mortgage real estate securities, where smaller units are permitted, providing the purchaser is furnished with a prospectus containing detailed information. Exemption from registration is also granted to less than SIOO,OOO issues exchanged for other outstanding securities, providing a prospectus explaining the exchange is furnished to each purchaser. Intrastate Issues Exempt The ruling, of course, applies only to securities sold in interstate commerce, or in the District of Columbia, since the commission has no jurisdiction over intrastate transactions. The net effect of the ruling is to remove from the purview of the commission the bulk of real estate mortgage deals and thousands of routine financing transactions, such as are necessary in the operation of all types of corporations.

Bank Clearings

INDIANAPOLIS STATEMENT —Nov. 7 Clearings $1,843,000.00 Debits 6.106.000.00 TREASURY STATEMENT —Nov. 7 Net Balance for Nov. 4. .$1,389,286,594.44 Misc. Int. Rev. Rcpts 6,104,962.44 Customs repts. (mo. to date 5,452,023.89 Births Boy? Clayton and Ruth Taylor, 717 East Nineteenth. Herbert and Violet Lyke, 1736 West Twenty-first. Thomas and June Durbin, city hospital. George and Erma Ferguson, city hospital. Clarence and Elizabeth Hull, city hospital. Howard and Evelyn Carpenter. 1603 East Michigan. , Girls William and Flo Matthias, 1419 North Haugh. Joseph and Nancy Snyder, 1343 East Minnesota. Garland and Nellie Froman, 3110 Jackson. Clarence and Anna Carter, city hospital. Clarence and Nellie Hedges, city hospital. Benjamin and Ruby Woods, city hospital. Hubert and Edith Raines, city hospital. Millard and Ada Smith, city hospital. Perry and Mildred Antrobus, city hospital. Henry and Violet Smith, city hospital. Julian and Jennie Butts, city hospital. Ralph and Juanita Morell, 1339 Fletcher. Howard and Frances Neimeyer, Methodist hospital. Deaths Eugene A. Sacks. 49, 4749 East Washington, acute dilatation of heart. Doan Laura, 40, Long hospital, lobar pneumonia. Charles Nelson. 86, 1132 Eugene, chronic mvocarditis. George R. Wilkins. 56. city hospital, pulmonary hemorrhage. Robert W. Duckett, 49, St. Vincent hospital, coronary occlusion. Annie Arford, 53, 1834 Milburn. carcinoma. William Shull. 49, Long hospital, accidental. Annie M. KSnkaid. 80. 5018 East Eleventh, chronic mvocarditis. Vernon Peters. 45. Traction Terminal ) building, coronary occlusion. Alma Young. 26, Long hospital, lung abscess. E. Compton White. 83. 614 East St. Ciair. chronic myocarditis. Marv E. Griggsby. 50. 559 West Twentyseventh, diabetes mellitus. ePter N. Roder. 58, 942 South East, chornic mvocarditis. Harrington D. Fogg, 67. 3608 Orchard, diabetes mellitus. Beile Leech, 75 Christian hospital, hypostatic pneumonia. Thomas Wayne Campbell. 3 months, 908 Bursdal parkway, lobar pneumonia. I Mary E. Runyon, 74, 2056 Livingston, : acute mvocarditis. ; Harold Lee. 2 months, Riley hospital, ! malnutrition. : Isabella Cash. 61, 3025 North Arsenal, I lobar pneumonia. Elizabeth Cooke. 53. 824 West Ninth, 1 cardiac asthma. Robert L. Watson. 45, Long hospital, diabetes mellitus. Nellie Marie Bond. 35. 2322 North UUj nois. pulmonary tuberculosis.

Congress May Act to Regulate Bank Practice

Agreement Satisfactory to NRA Must Be Reached Before January. By Scripps-Hoicard Xetcspaper Alliance WASHINGTON. Nov. 7.—Failure of investment bankers to submit a code of fair competition satisfactory to NRA has greatly increased the possibility that congress will pass legislation this winter regulating them. Hearings on a code submitted h y the investment Bankers’ Association were abruptly halted yesterday when division administrator A. D. Whiteside told the bankers he believed they had not ’taken the matter seriously.” Their code contained no trade practice rules, though NRA officials had expected that rules would be submitted correcting at least part of the practices disclosed in recent senate objections. .The bankers first asked that they

* THE INDIANAPOLIS TIMES

On Commission Row

—Nov. 7 Fruit* Cranberries—-Cape Cod early blacks, 25Ib. box.. $2.10. Grapes—California seedless, crate. $2.50; Caurornia Tokays, crate. $1 60: Ohio Concords. 12 2-quart baskets. $1.75; Michigan Concords. 12-quart basket, 35c; New York, li-lb. basket, 60c. Melons California Honevdewg. <912si $2.75: Persians iO-8s) per case, $2; Casabas iß?> per case $2 Pears—Washington D'Anjou '9O-185?). $2.75; Washington Bose. 'IOO-1355:. $2.75; Avacos, Fla., 10-16ci, crate, $2. Bananas—Per pound, sc. Apples—Wealthy, Wolf River, Grimes Golden Jonathan. Florida : 46s to 80s). $l.2O'S 1.75 a bushel; fancy Jonathans, $2 a box. Grapefruit—s3® 3.25. Prunes—ldaho Italian, 16-lb, lug3, sl.lO. Oranges—California Valencias, $3.50® $4.25 a box. Lemons—(36os) $5.50®6. Vegetables Cabbage—lndiana Dannish. 50-lb. bag, $1; Eastern Dannish. 50-lb. bag, $1.15. Onions—Utah Spanish, 50-lb. bag. $1.75; Western white, 50-lb. bag, $1.50; Indiana white, 50-lb. bag. $1.40: Indiana, yellow, 50-lb. bag, 75c, 10-lb. bag. 18c. Beans—Round stringless, bushel, $7. Beets—Home grown, dozen, 25c; bulk per bushel, 85c. Carrots—Home growm, dozen, 35c; bulk, per bushel, sl. Cauliflower—Utah, (10s-lls-12s) crate. $1.50. Celery—Michigan Mammoth, bunch. 60c; medfum bunch. 40c; hearts, 30c; IS bunch flat crate, 85c. Lettuce—Home grown, 15-Ib. basket. 60c; home grown, Endice. dozen. 40c: Iceberg, best 5s crate, $3.59®3.75; hothouse, 15-lb. basket, 75c. Radishes—Hothouse button, 35c dozen. Spinach, broadleaf, per bushel, 75c. Turnips, per bushel, 75c. Tomatoes—California, $2.25. 30-Ib. basket hot hduse, sl.lO, S-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, 52.10. Sweet Potatoes—lndiana Jerseys No. 1. hamper, $1.40; Nancy Halls, per bushel. $1.25.

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 g. 75 Indiana, forked lump 5.50® 5.75 Indiana, egg 5.25® 5.50 Indiana, mine run 4.75 Kentucky lump 700 Pocahontas lump 8 25 Pocahontas egg 8.25 Pocahontas forked lump 9.25 /Pocahontas mine run 7 25 New River smokeless 8 25 West Virginia lump 6'75 West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin.

Average Stock Prices

Average of thirty industrials Monday, high 93.14, low 91.67, last 92.50, off .59; average of twenty rai+s: 38.60. 38.06, 38,27, off .55; average of twenty utilities: 23.75, 23.25, 23.52, off .24; average of forty bonds: 81.95, off .20; average of ten first rails: 88.69, off .35; average of ten second rails: 65:00, off .25: average of ten utilities: 91.64. off .12; average of ten industrials: 82.47, off .10.

Produce Markets

Delivered In Indianapolis prices—Hens, 8c; Leghorn hens, sc; heavy breed springers, 8c; Leghorn springers, 6c; cocks, 5 lbs. and up, sc; under o i bs -;. 4 c: ducks, 4% lbs. and over, full feathered and fat, sc; under 4% lbs., 3c; geese, full feathered and fat, 3c; No. f strictly fresh country run eggs, 24c; scrictly rots off; each full egg case must weigh a5 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. 7.—Eggs—Receipts, 1,987 cases; market, firm: extra firsts, 22%c; dirties, 12%@14%c; current receipts, 18® 2° %c. Butter—Market, steady; receipts, 8.333 tubs; specials, 23%@24c; extras. 23c; extra firsts, 20%®2!%c; firsts, 18®19%c; seconds, 17%®18c; standards, 21c. ' Poul-try-Market. steady to firm; receipts. 42 trucks; fowls, £%®lo'2C: Leghorn chickens, 8c; Leghorns, 7c; heavy white rocks. 11c; Ducks. 8® 10c; small ducks. B%c: colored ducks, 9%c; .geese, 9c; turkeys, 13c; roosters, Bc. Cheee—'Twins. 12®12%cLonghorns, 12%@12%c. Potatoes—Supply liberal, demand and trading moderatemarket, firm; Wisconsin Round Whites’, $1.30® 1.35, partly graded $1.20; Minnesota and North Dakota Red River Ohios. $1.12%®1.20; North Dakota Red River Cobblers, 51.15® 1.22%, slightly frozen, $1.10; Idaho Russets. $1.60®1.70; shipments, 485, arrivals, 59. on track, 348. CLEVELAND. Nov. 7.—No butter eggs or poultry market today. Potatoes i all quotations based on U. S. No. 1 and 100lb. sacks) —Maine Green Mountain and Cobblers. [email protected]: best mostly $1.85; Idaho Russet Burbanks, $1.90®2; few fine quality higher; Red River Valley Cobblers $1.35® 1.50; Michigan Cobblers, $1.50® 1.60partly graded. $1.35® 1.40; New York mostly graded. $1.25®>1.30: Ohio best, $1.40® 1.50; partly graded, $1.251.30.

Fur Bearing ‘Boone-Type Benny’ Is Stolen: Found by Police. Lewis geckler, 65 ; of 1214 East Washington street, got his fur cap back this morning, but the $8 that was taken with it, still is missing. Geckler, a huckster, reported to police early this morning that he was attacked by a Negro, who leaped into the rear of the huckster wagon while Geckler was driving near Alabama and South streets. Throwing his arms around Geckler's neck, the Negro nearly strangled him while taking the $8 from the huckster's money pouch. In the struggle, the Negro’s cap fell from the wagon, and the assailant seized Geckler’s fur cap, which is of the Daniel Boone type. A few minutes’ later, James Adams,, Negro. 34. of 654 West Twenty-ninth street, was arrested by railroad detectives. When Geckler was taken to police headquarters, he identified Adams and the cap, but a search of the prisoner failed to reveal the SB. 26 Remain in Walkies With 1,160 hours completed ;wenty-six contestants remained ir :he Walkathon at the state fairground today. The managemen) estimated attendance of approxinately 5,000 persons last night.

be given four months in which to prepare regulations for self-govern-ment. Later * Alden H. Little, executive vice-president of the Investment Bankers' Association, indicated that work would be started at once. Two months remain in which investment bankers might draft a code acceptable to the government. However, if nothing has been done by January, when congress convenes, legislation is certain to be proposed. The consumers’ advisory board of NRA has three provision to propose. The first would eliminate doorbell-ringing sale of securities. The second would prevent employment of salesmen on a commission basis only, since this, they claim, increases the efforts of salesmen to sell securities regardless of their merit. Finally, the board wants a securities expert appointed to sit on the code authority with other government representatives.

SWINE MARKET SHOWS STRONG TRADINGRANGE Sheep and Cattle Prices Also Higher: Vealers Make Big Gain. Hog prices at the Indianapolis | stockyards this morning were 15 to i 20 cents higher than yesterday’s average. Underweights held steady to 15 cents higher. Receipts numbered 6,000, including 145 holdovers. Bulk medium weights were being sold at $4.35 to $4.40. Selected ! butchers ranged from $4.45 to $4.50. Light weights ranged from $3.85 to $4.15. Light lights sold at $3.50 to $3.65. Cattle receipts were 1,800, and calves receipts 500. The steer trade was undeveloped, with a few offerings being made at firm prices. The bulk held at $5.25 to $6. The heif,er was strong, and the cow trade steady. Vealers were 50 cents higher at $6.50 down. Sheep receipts numbered 1,500. Lambs were 25 to 50 cents higher. Ewe and wether lambs sold at $7 to $7.50. Buck lambs ranged from $6.50 down. Throwouts were being sold as low as $4. Receipts of hogs at Chicago numj bered 15,000, including 5,000 direct. A few early bids ranged from 10 to 15 cents higher than yesterday’s average at $4.45 downward. Cattle receipts were 7,000, and calves receipts 2,000. The market was steady to strong. Sheep receipts numbered 10,000 on a strong market. HOGS 31. $3.90® 4.00 $4.05 8.000 Nov. 1. $3.90® 4.00 $4.05 5,000 2. 4.05® 4.15 4,t5 5,000 3. 4.00® 4.05 4.10 6.000 4. 4.05# 4.10 4.15 2,500 6. 4.20® 4.25 4.30 3,000 7. 4.35® 4.40 4.50 6,000 Market, higher. (140-160) Good and choice.. .$ 4.00® 4.15 —Light Weights—-(l6o-180) Good and choice.... 4.35 (180-200) Good and choice..,. 4.35 —Medium Weights—-(2oo-220) Good and choice 4.40 (220-250) Good and choice.... 4.40@ 4.50 —Heavy Weights—-(2so-350) Good and choice.... 4.40@ 4.50 (290-350) Good and choice. .. 4.25® 4.40 —Packing Sows—(3so down) Good 3.75® 4.00 1350 up) Good 3.50® 3.85 (All weights/ Medium 3.25® 3.75 —Slaughter Pigs—-(loo-130 Good ana choice.... 3.50® 3.65 CATTLE Receipts, 1,800; market, steady. (1,050-1.100) Good and choice $ 5,00® 6,25 Common and medium. 3,00® 5.00 (1,100-1,500) Good and choice 4.75@ 6.00 Common and medium 3.25® 4.75 (650-750 — Good and choice 5.25® 6.50 Common and medium 3,00® 5.25 (750-900) —r Good and choice 4.50® 6.25 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 excludedi Good (beef) 2.50@ 3.25 Cutter, common and medium.. 1.50® 2.50 VEALERS Receipts, 500; market, lower. 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@ 5.00 Common and medium 2.00® 4.00 —Feeder and Stocker Cattle—-(soo-8001 God and choice 4.00® 5.00 Common and medium 2.75® 4.00 (800-1,500) Good and choice 4.00® 5.00 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts, 1,500; market, steady. —Lambs—(9o lbs. down) Gd. and choice.s 6.50@ 7.50 (90 lbs. down) com and med. 4.00@ 6.50 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75 Other Livestock BY UNITED PRESS EAST ST. LOUIS, 111., Nov. ' 7.—Hogs— Receipts, 8,000, including 500 through and direct; market, steady to 10c nigher; later trade active; top $4.35 with some higher; bulk 170-250 lbs., $4.25®4.50; heavies scarce; 140-160 lbs., s4® 4.25- 100130 lbs., $3.10@3 75: sows. [email protected]. Cattle—Receipts, 5,000; caives, receipts, 1,800; market, not established on native steers; several Oklahoma grass steers, steady with Monday at $2.90®3.10; mixed yearlings and heifers and cows fully steady: bulls 10c higher; vealers 50c higher with top $6.50; a few’ native steers, $4.25® 5; mixed yearlings and heifers. s4®; 6.25; cows, $2.25®'2.75; low cutters, $1.25® 1.50; top sausage bulls, $2.75; slaughter steers. 550-1.100 lbs., good and choice, $5.25® 6.25; common and medium, $2.75® 5.50; 1,100-1,500 lbs. choice. ss®6: good 54.50® 5.75; medium, $3.75® 5.25. Sheep— Receipts, 2,000; market, opened steady to strong; top lambs to city butchers. $7; packers talking $6.75 down; indications steady on throwouts and sheep; lambs, 90 lbs. down, good and choice, $6.25®7; common and medium, $3.50®6.50; yearling wethers, 90-110 lbs., good and choice, s4®s; ewes, 90-150 lbs., good and choice, [email protected]: all w’eights common and medium, sl@2. PITTSBURGH. Nov. 7.—Hogs—Receipts, 300, holdovers. 300; sharply, mostly 25® 35c higher on few loads here; one load 200225 lbs early, at $4.50; bid $4.75 on one load of 200 pounders; 150 lbs.. $4.35; 140 lbs. dotvn quotable $4®4.25; 275 lb. weights, $4.15; smooth sows up to $4.15. Cattle—Receipts, 25: about same yesterday; medium to good grass steers. $3.50® 4.50. Calves—Receipts. 50; slow and steady: good and choice vealers, $6®6.50. Sheep—Receipts, 500; good and choice sorted around 75 lb. fat lambs, $7.25 or 25c higher; medium. 54®5.25; culls. $2.50®. 4; aged stock, steady. FT. WAYNE. Nov. 7.—Hogs—loc higher; 200-225 lbs., $4.35; 225-300 lbs.. $4.25; 300350 lbs., $4.15: 160-200 lbs., $4.20; 150-160 lbs., $4.05; 140-150 lbs., $3 85; 130-140 lbs., 53.60; 100-130 lbs., $3.25;' roughs. $3.25; stags, $2.25; calves, $6.50; lambs, $6.50. CLEVELAND. Nov. 7.—Cattle—Receipts, 250; market, active and steady in cleanup trade; prices unchanged from yesterday with steers between $3.25® 6.50 according to weights and grades; common to good heifers. s3® 4 50; medium to good cow’s, s2® 3.25. Calves—Receipts. 250; market, fully steady; choice to prime s7® 7.50; choice to good s6@7: fair to good ss®6; common $34/ 5. Sheep—Receipts, 2.000: market, active and strong with finest lambs bringing $7 top: choice wethers, j $2.50®3.25; choice ewes, S2@3; choice spring lambs, $6,254/ 7; good to choice, $6®56.50: common and cull, $3®.5. Hogs —Receipts, 1.200; market, active and 15c higher on strong demand; bulk of receipts brine $4.65 top: heavies, $4.50® 4.65; choice and lights butchers and choice yorkers, $4.65; stags $2.25; roughs, $3.25; pigs, $3.75®;4. TOLEDO. Nov. 7.—Hogs—Receipts. 150; market 25c higher; heavy Yorkers. $4.25: mixed and bulk of sales, $4.25: pigs and lights. $3.25®4: medium and heavies. $3.50 ®4.25; roughs. $3®3.50. Cattle—Receipts, light; market steady. Calves—Receipts, light: market steady. Sheep and lambs— Receipts, light: market steady. LAFAYETTE, Nov. 7.—Hogs—Market. 15 ®2oc higher: 200-300 lbs., $1.20®4.25; 300325 lbs., $4.10; 150-200 lbs.. s4® 4.15; 130150 lbs.. $3.50®3.75; 100-130 lbs., $3.25; roughs. $3.75 down. Top calves—ss.so. Top lambs—ss.so. EAST BUFFALO, Nov. 7.—Hogs—Receipts. 200; holdovers, 230: market active, steadv to 10c over Monday's average: 200250 lbs.. $4.75: 150-210 lbs.. $4.65: others nominally firm. Cattle—Receipts, 50; steady at recent decline; low good 1.110lb. steers, $5: very common grassers. $3: cutter cows, sl®2. Calves—Receipts. 25; vealers unchanged, $7 down. Sheep—Receipts. 300; lambs firm at yesterday’s full advance: good to choice ewe and wethef lambs. s7® 7.35: mixed offering and fat bucks, $6.25® 6.75; throwouts, $5.25 down. By Times Special Louisville. Nov. 7.—Cattle—Receipts, 1.200: mostly fat cattle entered in twelfth annual livestock show; market, very light; mostly steady except on heavy steers; weak to lower: bulk common to‘ medium steers and heifers. S3® 4; best fed lightweights quotable to *5.50; bulk beef cows, $2®2.50; low cutters and cutters. $1®1.75; bulls mostly $2.50 down: stockers and feeders quotable mostly s2® 3 for common to medium natives; desirable Hereford heifers stock calves mostly 54.50. Calves —Receipts. 200: market not established: early Indications strong on better grades: generally asking $4.50® 5 for bulk such kinds. Hogs—Receipts. 600: unevenly 10® 65c higher, due to a change of sort: ISO--275 lbs . $4.45: 280 lbs. up, 53.75: 140-175 i lbs., $3.85: 135 lbs. down. S3: sows, S3; stags *1.75. Sheep—Receipts, 100; mostly steady on light supply; medium to good lambs mostly ■ $5 50® 6; choice eligible to S6 50; bucks. *4.50® 5: throwouts. S3 53; fat ewes, Sl®2. Receipts vesterday—Cattle. 964: calves. 283: hogs. '564: sheep. 80. Shipments yesterday—Cattle. 185- hogs, 139. Plumbing Permits William Maher. 408 East Washington, two fixtures R. W. Liebenderfer, 419 Alton, fixe fixtures. U. H. Raise, 1157 Ha ugh, two fixtures.

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

Market Average u m * Twenty Active Issues Listed on the *\\ I\ Stock Exchange.

AUSUST SEPTEMBER. OCTOBER. NOV r 7 2 2' 18 S II IB 1S Z *l* ZS JB 6 i. i MON. OATES 7 _ Z m 69- (■ I r—o 68 * a 6 7 + j r-ftT 1 ~7 1 67 stl ' I( fl h„ CT. : ; -■= _ ia ,|tF| friJ-Tpiti.! +-■ (n —~ i “ • “ :> ; : .-itH r i—fiM— 1 w 59^ ———i -u 1 b —; —Hr — irr—n — 59 S s 2 — 1 58 % 56 . . ; HU rr 56 • S2 ; L 52 l si ——i ■*=— —i —si Jjj 50 : ; 4 : ! ! 1 ) 50 X ng J— ; L_—_! —l } ——-—i 49 £4B 1 1 | i ! : 1 I 48 ? g OO _J _| I ! 46 s' too :——•• JY-'N • —I - 'pcAt — 5 2 o : = : rv_. /y_\ A —l 1 .jN/.1;..-- s o o 700 —i fy\ 4—/-V—W- A 4 \/-V •; ■ —• 7 5 ? !! | sop ; | ; | ; U—^

This daily record of the movements of twenty active stocks, averaged, gives a clear view of the market trend. Long pull movements and daily variations are apparent at a glance.

Federal Loan Expected to Aid Steel Industry

Pennsylvania Railroad Will Build New Cars With Borrowed Money. By United Press PITTSBURGH. Nov. 7. The $135,000,000 federal loan to the Pennsylvania Railroad to purchase rails and equipment was regarded here today as promising to revive benefits to city from NRA program, the steel industry and give quick At least $30,000,000 of loan was expected to find way into Pittsburgh through steel workers’ pockets as pay; coal mines and miners for coal coke; distant iron mines /or ore, and back to railways and barge lines for transportation. At least 5,000 men will be added to pay rolls of steel mills alone in this district. Under steel code, that number would give more than SBO,000 weekly in additional wages. Even if only 200,000 of the 1,000,00-ton order were placed in Pittsburgh district, steel men said that the United States Steel Corporation’s Carnegie plant at Braddock would be kept opening six months to produce its share. In addition, local electric manufacturing plants expected a good portion of the 132 new electric locomotives to be built for the Pennsylvania railroad, although they would be assembled elsewhere. And local car companies undoubtedly will share in the order for 7,000 steel freight cars Steel workers already have bene-

World’s Ills Blamed on Race Supremacy Efforts

Illustrated Talk Given by Baptist Official at Church Session. The struggle for race supremacy is responsible for many of the world’s ills today, Dr. Charles A. Wells, New York, member of the board of missionary co-operation of the Northern Baptist Convention, said last night in an illustrated address at the Indianapolis Athletic Club. Dr. Wells, who also is a cartoonist and former newspaper correspondent, spoke before a combined dinner meeting of the Brotherhood of the First Baptist church and the Ladies’ Social Circle. He was introduced by Chris A. W T agner, president of the Brotherhood. The problems of the world can be brought to a successful solution only through the path made by Christ, Dr. Wells said. Christian missionaries in foreign lands are trying to erase all racial supremacies by

Three Stage Plays on Indiana Central Program

One-Act Production to Be Presented Tonight at School. A one-act play, ‘'The Eldest,” will be presented in New hall at Indiana Central college at 7 tonight, under the direction of Miss Othella Dennis and sponsored by Alpha Psi Omega, college dramatic society. The cast includes Elaine Post, Mildred Walker, Robert Carter, Wayne Babler. Yomoda McCockiin, Nora Probst and Harold Davis. Three dramatic readings, two musical numbers and a one-act playlet will be features of the Speech night program, to be observed in Kephart Memorial auditorium. Nov. 17. The following are in the cast of the playlet. ‘‘Sauce for the Gosling:” Othella Dennis, Clarence Jones, Mildred Schurtter, Manly Price, Mary Margaret Cox, Allan Breedlove and Mary Lou French. “Wind in the South,” first major production by Alpha Psi Omega, will be presented Dec. 18. under the direction of Miss Lucille A. Richards of the department of speech. The cast includes Charles Martin, Mrs. Charles Martin, Dorothy Cooper, ’James Eaton, Yomoda McCockiin, Arnold Elzev, Nora Probst, Esther Bower and Wilma Kraemer. JUDGE, 90, STILL BUSY Massachusetts Jurist Has Been on Bench Thirty Years. By United Brets WARE, Mass.. Nov. 7.—District Judge Henry C. Davis. 90. still occupies the bench to which he was appointed in 1903.

Inti. Harvester Johns-Manviila Nat. Biscuit Pub. S. cf N. J. Sears Roebuck Stand, of N. J. Un. Aircraft U. S. Steel Union Pacific Westinghouse

sited from the NRA program. Since adoption, the steel code has given them a 15 per cent wage increase, guaranteed them collective bergaining and steel production has shot up to more than 50 per cent of capacity in the few weeks after the recovery program began. The federal loan to the Pennsylvania railroad was well timed for the steel industry, however. Production has dwindled in recent weeks until this week it was forecast that it would run only 26 per cent of capacity. The new large order, therefore, was regarded here as certain to tide the industry over sufficient time for normal flow of orders. That spurt in the industry of few weeks ago now is admitted in informed steel quarters here as largely unwarranted. It was unseasonable, for one thing, and although there were orders on hand to absorb the production at the time, prospects of additional orders did not justify the speeded-up production that was put in effect. Consequently, when the orders on hand were filled, output lagged again. The $138,000,000 loan, however, will provide sufficient orders here to keep industry moving steadily so that, unless speeded-up production again is demanded, steel leaders expect a sharp slackening will not be necessary. Other, if smaller, orders will arrive to keep the business moving normally when the Pennsylvania railrad’s demands are filled, they believe.

teaching mankind that love alone can rule the world, he asserted. Asa newspaper writer and missionary, Dr. Wells has traveled extensively in Soviet Russia, the far east and European countries, and has observed developments there. In order to emphasize many of his observations, he drew sketches in colors. The world, Dr. Wells said, has lots of headaches and heartaches caused by nationalities striving for supremacy. After fifteen years of trying to disarm, the world today is better prepared for war than it was in 1914, he added. During the dinner, a program of popular airs was played by a division of the Boy Scout band under the direction of Ray Oster. Mrs. Raymond Ridge, soloist, sang a group of songs, accompanied by Miss Georgia Baumann, violinist; Miss Virginia Lyneberger, cello, and Mrs. F. L. Warmer, pianist. Group singing was led by Charles A. Alwes of the Meridian Heights Presbyterian church.

An Old Meany Sewing Machines Stolen From 'Unemployed Club.’ TWO portable sewing machines, valued at SIOO, were stolen from an “unemployed club" operated in the old Brightwood Y. M. C. A. building, Roosevelt avenue and Station street, the manager, John McDonald, 2425 Stewart street, reported to police this morning.

MASTODON TUSK FOUND Gravel Pit in lowa Yields 12-Foot Long Prehistoric Relic. By I'nited Press HAMPTON, la.. Nov. 7.—The twelve-foot tusk of a mastodon discovered on the W. S. Huerman farm near here has been the cause of renewed interest in geology. Workers in a gravel pit, who discovered the giant tusk, at first believed it to be part of a petrified tree trunk. It finally was identified as the tusk of a pre-historic animal by Professor E. J. Cable of the science department of lowa State Teachers college. LIMIT SET FOR DOGS By United Brest CONCORD, N. H., Nov. 7.—A recent ruling by the state fish and game department provides that the same dog can not be used to bag more than ten raccoons in a season.

PAGE 11

WHEAT FUTURES OFF FRACTIONS IN DULL DAY Strong Undertone Is Noted in Oats: Corn Is Off Half Cent. BY HARMAN W. NICHOLS ' United Press Staff Correspondent CHICAGO, Nov. 7—Grains were easier at the openine of the board of trade today. Wheat futures dropped to V* cent, corn was down % to cent, and oats was unchanged. There was a lack of stimulant. Expansion of outside interest seems imperative if present levels are to be maintained or advanced, brokers believed. Lack of interest in the wheat market nullified factors which ordinarily would have stimulated prices. The trade sees nothing but a trading market in sight, pending developments that will end existing uncertainty. Tne government is believed to have returned to the corn market and as a consequence this grain has developed a stronger undertone. Oats and rye are inclined to follow’ in the footsteps of corn. Chicago Primary Receipts —Nov. 6 Bushels Today Last Wee Sc Wheat 518.000 512,000 Corn 817,000 1.133,000 Oats 288,000 287,000 Chicago Futures Range —Nov. 7 Prev. WHEAT— High- Lon - . 10:00 close. Dec .85 1 . .84% .85'* .85% May 88% 87% .87% .88'* July 86 .85% .85 .85% Corn— Dec .46% .45% .45% .46% May 52V* .50% .51 .52% July 53% .52% .52% .53% OATS— Dec 33% .33% .33% .33% May 36% .36% .36% .36% JU RYELI 35% .35% .35% .35% Dec, 55% .55 .55% .55% May 62% .61% .61% .62 July 61 .61 BARLEY— Dec 47 May 50% .51% July 52% CHICAGO CASH GRAIN By United Press CHICAGO. Nov. 6.—Grain close: Wheat —No. 2 hard. 87c; mixed No. 2. 86%c. Corn (old) —Mixed No 2. 44c: No. 3. 43%c; No. 4. 43%c; yellow No. 2, 45@45%c: No. 3. 44@45c; No. 4. 43%®43%c;' No. 5, 42 ®42 %c; No. 6. 41@41%c; white No. 1, 45%c; No. 2. 45%c; sample, 30c. Corn—(New) mixed No. 2. 44%e; No. 3. 41%®42C; yellow No. 2. 44%c; No 3. 42®42%c; No. 4, 38®40c; No. 5, 37%@38%c; white No. 2,44 c: No. 3. 42®42%c: sample, 36c; new and old white No. 2, 44 %c. TOLEDO CASH GRAIN By United Press TOLEDO. Nov. 6.—Grain close: (Grain in elevators, transit billing: Wheat—No. 2 red. 83®89c. Corn—No. 2 yellow, 50® 51c. Oats —No. 2 white, 38®39c. RyeNo. 2, 69%@70%c. (Track prices 28% cent rate:. Wheat—No. 1 red. 85®85%c; No. 2 red, 84@85c. Corn—No. 2 yellow. 45%@46%c: No. 3 yellow. 43%®45%c. Oats —No. 2 white, 35®36%c; No. 3 white. 34 ®35%c. Seed close: Clover—December, $7.50A; March. $7.75A. Alslke—Cash. $8.50; December, $8.70. ST. LOUIS CASH GRAIN By United Press ST. LOUIS, Nov. 6 —Cash grain—Wheat in fair demand, steady to lower on red and % cent higher on hard wheat No. 2 red, 88%@91c: No. 3 red, 89®;90c; hard. 87® 88c; No. 1 mixed, 89c. Corn in good demand, unchanged, to 1% cent higner; No. 4 mixed, 42%c; No. 5 mixed, 41%c; No. 1 yellow, 45%c; No. 2 yellow, 44%®' 45%c; No. 3 yellow, 44®44%c; No. 2 white, 46%c; No. 3 white, 46c; sample grade weight, 38c. Oats in good demand, steady: No. 2 white, 36c; No. 4 white, 34c; No. 2 mixed, 34%c. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 77 cent* for No. 2 sort, rea wneat. otner grades on their merits. CHICAGO FRUIT MARKET By United Press CHICAGO, Nov. 7.—Fruit and vegetables: Apples—Michigan Jonathans bushel, sl® 1.25; Baldwins bushel, 90c® sl. Pears —lllinois Keifers and New York bushel, 90c®$l. Carrots—lllinois, 1 %® 2%c bunch. Spinach—lllinois. 60®65c oushel. Beans—Southern was, $1®1.75. Cabbage —Wisconsin. $1®1.25 crate. Grapes—New York. 42®43c 12-quart. Celery Michigan, 40® 60c crate. Mushrooms—lllinois, ,20®' 35c. Cucumbers —Southern. sl®2; central western. $1.50® 2.25. Tomatoes- California, $1.25® 1.50; Illinois and Ohio. 70® 75c 'hothouse). Onion market—ldaho and Washington, valentias bushel. 70® 85c; Wisconsin, yellows. 65®70c; Indiana, yellow bushel, 65® 70c Illinois, yellows bushel, 65® 70c. Midwestern whites bushel. slo/ l.io.

FEAR OF GAS POISON FROM AIR DISCOUNTED Tests Declared Almost Negative Made in Philadelphia. By United Press PHILADELPHIA, Nov 7. Too much emphasis has been placed on the risk of carbon monoxide poisoning in city streets as a result of heavy automobile traffic believes Dr. Hubley R. Owen, police surgeon here. “It is true that carbon monoxide gas is present in the air in our city streets, but its quantity is of no danger to pedestrians," he stated, disagreeing with assertions made before the British Medical Association that city dwellers will need to wear gas masks soon to save themselves from fumes of automobile exhausts. “That's rather far fetched,” Dr. Owen said. He described tests made on three policemen who worked long hours on heavily traveled intersections. “We found so little carbon monoxide poisoning in their blood as to render our tests virtually negative.”

PTxv/ COLLATERAL / LOANS * Xo Co-Makers Kepaiil Over a Whole Year The Indianapolis Morris Plan Cos. S. E. Corner Delaware and Ohio Sts. RI. 1538.

We Buy and Sell U. S. Government Bonds Federal Land Bank Bonds Indiana Municipal Bonds T. P.BURKE & COMPANY INCORPORATED Investment Securities Circle Tower RI-8535 Ft. Wayne Lincoln Bank Tower

Annuity An annuity i the heft elixir of life. The secret is that financial worry ages and kills more people than all of the deadly disease? combined. An annuity will throw off worry and add years of life. Ward H.tiackleman And Associates Massachusetts Mutual Life Ins. Cos. 300 Continental Bank Bldg.