Indianapolis Times, Volume 45, Number 156, Indianapolis, Marion County, 9 November 1933 — Page 17

NOV. 9, 1933

Wall Street Outright Currency Inflation Appears in Prospect; Other Experiments Are Criticised. By RALPH HEXDERSHOT Time* Special Financial Writer

Outright currency inflation would seem to be in prospect. Other plans for raising commodity prices do not appear to be working out as well as had been expected, and criticism of the administration’s experiments are becoming more widespread. Currency inflation, from which the government has kept a reasonably safe distance, is being demanded throughout the west and south, and it would appear to be the one important experiment yet to be tried. The theory that depreciation of the dollar in terms of gold would raise the price levei of tangibles does not seem to be working out well in actual practice. Recently, for instance, a further increase in the price of

gold v.as entirely ignored by commodities. Grains and cotton turned reactionary. It is charged in some quarters that the theory has not had a fair chance; that certain people in the United States and Europe have been throwing monkey wrenches into the machinery. This may or may not be true, but to date specific instances have not been cited and specific names have not been mentioned. It is true, however, that the government's new gold buying policy has not been in operation very long, and there is always the chance that, given more time, It may bring the desired results. a a a Time Precious These Days But time is rather precious these days. The farmers already have begun to get unruly, and congress will reconvene in about two months. Congress may have ideas of its own when it opens shop again, and its strength probably will depend in large measure on accomplishments in the meantime. If President

M i ***•%

Ralph Ilendershot

Roosevelt feels that experiments to date have not worked out satisfactorily he may decide on a certain amount of outright inflation in order to keep it under his control. The special session of congress authorized the issuance of $3,000,000.000 of greenbacks. These have not been issued thus far. It has been suggested that they be used in payment of treasury notes as they mature, which would have the result not only of putting more currency into circulation but of reducing payments of the government debt as well. a a a Already Have Had Inflation A great deal has been said in the past about the possibilities of controlling inflation once it was started. The picture of Germany’s inflation results is distasteful to every one, but those who would oil up the government’s printing presses at this time maintain that if the brakes on the machine are properly adjusted it can be stopped at will. Others contend that while the brakes might work well enough, the public would not permit any one to step on them. The truth of the matter is that we already have been indulging in indirect inflation. The marking up of gold prices depreciates the vaiue of the dollar, which is the same in principle as diluting the dollar value by issuing additional currency. The trouble is that the type of inflation already attempted has not "taken.” The dollar is still being held as tightly as ever. To be effective, holders of dollars must be induced to exchange them for tangibles. President Roosevelt has said he will raise commodity prices one way or another. It looks very much as though, if he is to fulfill this promise, he will be obliged to create an artificial demand for them.

New York Stocks (By Abbott. Hoppin Si Cos.) ■

—Nov. 9 Prev. Oils— High. Low. 10:30. close. Amerada 44 43% 43% 43% Atl Rfg 30% 30% 30 7 * 30% Barnsdall . B*4 8% Consol Oil ... 12'4 12 1 s Cont of Del .... 18 17% 18% 18 Houston (newl 4% 4*2 Houston (oldi 24 b Mid Cont Pet 12% 12% Ohio Oil I 5 J®* 8 Pet Corp ... ••• }lf Phillips Pet . . 15% 15% 15 s 15 i Pure Oil 12 s * 12% 12% 12% Sbd Oil 3o 35% Simms Pet . 1®: Skelley Oil Bs*8 s * B*4 Soc Vac . 13" 13“ SO of Cal 42 1 42 1 8 42% 41% S O of Kan 34 * S O of N J 43 7 b 43*2 Sun Oil •••, ’8 Texas Corp . 25% 25'a 25*4 25 Tidewater Assn.. .. ... 10 s *o s Un Oil of Cal 20*2 Alii Roll Mills 17*8 17*. 1727*• Beth Steel ... . 32*4 31 4 31 s 31 2 Bvers AM .. 24% 24*2 244. 23 4 Col Fuel <fc Iron .. s>a 4 4 Cruc Steel Ji. 4 Oulf Sts Steel 18-2 Ludlum Steel ... if Natl Steel 40>j 40 Rep I * 8 14 13 2 U S ’smelt 103*8 102% i02% 102% Vandalium 20 J". 8 Mid Steel ••• 1 z 1 2 Shell Un *% 8s V 8 P * Fdv 15*4 15*8 U S Steel 42*4 42 ; . u S Steel pfd 79 2 772 Yrs S & T 18 4 Atchison 51*8 51’4 51*8 51% Atl Cst Line 33 32 ,4 Ch & Ohio C M & S P s> 5U C M & S P pfd 9, 8 2 Chi N W B*4 B*4 Chi R I 7'V pfd ... ... 6* Del & Hud . . 1>4% 54% 54% 53*. Erie ... ... ... • - 15 3 4 Ort North ... 19 19 111 Central ?‘% K C Sou ll*a 11 Lou A Nash 44 44 M K & T 8 7 s Mo Pac 4 Mo Pac pfd s*b ... N Y Cent 36% 36 N Y C A- S L . 17*2 17*4 17% 16 NYC &SL pfd 18% 17*2 N Y New Haven .. . 16 s 16*4 N Y Ont & Wes B*4 Norfolk & West. .. ... ■ 149% Nor Pac ... •• • 22*4 Penn R R 28% 28'4 28% 27% Reading 47 Sou Pac ... 20 7 s 20*4 Sou R R 22*4 21 r, s Sou R R pfd ... Union Pac ... Wabash 2*b West Maryl 9> t Motors— Auburn 44 43 Chrysler 43 '4 Oen Motors ... ... 30% Uraham Mot ... 30’a 30% 30*8 ... Hudson 11 lO'i Hupp ... ... 3*4 Mack Truck 28'2 28*a 28** 28 Nash ... 20*8 19*4 Packard 3% 3% 3*4 3 s * Reo ... 3 Studebaker .... 5 4 7 . 4 7 a 4 7 s Motor Access— Bendix 14*4 14'* Bohn Alum 47 7 8 47 7 e Borg Warner ... 16*4 16% Briggs 9'b Buad Wheel ... ... 3% Eaton Mfg 12% 12 12% ll’s Elec Auto Lite 16*4 16 Houd A ... ... 3’ 2 Murray Body ... 5*4 s*B s*. s*a Stew tVarner 6*4 6 Timken Rol .... 28*4 28 28'4 28 Mining— Alaska Jun .. . 26*4 26 1 2 26% 26*4 Am Smelt 48% 48*s 48*8 48’s Anaconda 15 7 * 15*4 15*4 15‘2 Cal & Hecla ... 5*2 5 s * 5'2 s'b Cerro de Pasco.. 40 7 8 40*8 40 7 a 40 Granby 10’* 10 10% 9*s Gt Nor Ore 10 Homestake Min. .. ... 325 330 Howe Sound ... 33*a 32% ins Copper 5 ! 2 Int Nickel . 21 2G 7 a Kennecott Cop 22 1 2 22 Noranda Cop 34*4 34% Phelps Dodge 16’ t 16 Tobacco*— Am Sum Tob 14 Am Tobacco A 72 Am Tobacco B . .. ... 75 75 Gen Cigar 29 Ligg .V Myers B . ... 84% S4>4 Lornllard ... ... ... 17*4 Remolds Tob B. .. ... 44'2 44 Equipments— Allis Calmer* ... ... 19 7 a 19*8 Am Car & Fdy 25 24'a Am Loco 28*a Am Mach A: Fdy ... 15 14% Am Steel Fdv ... ... 18’4 Bald Loco 12*4 12 Burroughs . ... ... 14*2 Case J I . .72 71*4 72 70*a Cater Traci 21’a 21’a Col Palm Peet ... ... 13*8 13'4 CongJleum ... ... 24% 24‘s E.ec Si or Bat 40 Foster Wheeler 16 15% Gen Am Tk Car .. ... ... 31 Gen Elec 21> 2 21*4 Gen R R Sig 31 Ingso! Rand 52 7 a In: Bus Mach 13S*2 Int Harvester 39*8 39% Kelvinator 10% 10*8 Nail Cash Reg . ... 15*4 15% Proc & Gamble 41' 4 Pullman Inc 45*4 Simmons Bed 17* 4 18 end Elliot 27 7 a West Air B . . .. 26’2 26* Westingh Elec. 393378 7 39 38*a Worthing n Pmp 22 Utilities— Am A- For Pwr 9'l 9*4 Am Power & Lit 8 7* 8 A T A- T 118*4 Am Wat Wks 20*a 20'j Brook Ull Gas 62 Col Gas A- Elec 13*s 13 Col G A- E pfd 61 Com & Sou 2 l a 2*s Consol Gas 41% Elec Pwr & Lit.. 6 s** 6 5 7 a E P A- L pfd 10 Int TANARUS& T 13'2 13 13>2 13** Lou G&EA 14 s , N*t Pwr & Lit lit. North Amer 17 Pac G & F. 20H 20 Pub Serv N J 36*2 36% S5 Cal Edison 17*, Std Gas 9 7 , 9 s , 9 7 , 9S Std Gas pfd 9 7 , United Corp 5% 5% Un Gas Imp 16*, Ut Pwr A Lit A 3 ■Western Union. 52*4 SI 1 - Bobbers— Firestone 21*4 21*, Goodrich ... 14 s * life

Goodyear 35% 35 35% 34% U S Rubber .... 17 16% 17 16% U S Rubber pfd 26% 25% Kel Spring 2% Amusements— Croslev Radio 10 Fox Thea 14% Loews Inc ... 30% 30% Radio Corp 7% 7% 7% 7% RKO 2% Warner Bros 6% 6% Foods— Am Sugar ... ... 57 Armour ‘A’ ... ... 3% Beatrice Cream 13 Borden Prod 22% 22 % Cal Packing ... ... 20% Canady D G Ale 29% Coca Cola ... 97% Cont Bak ’A' 10% 10% Corn Prod ... 73% 72 Crm of Wheat 28% Gen Foods 36% 36% Gold Dust ... 17% 17% G. W. Sugar . 38% 38% 3814 37% Hershev 48% 48V* 48% Int Salt 22% Loose Wiles ... ... 40% Natl Biscuit . 43% 43% 43% 43% Natl D Prod ... 14% 14 14 14% Purity Bak 14% 14% 14% 14% S P Rico Sug 42% 40% Std Brands 25% 24% 25% 24% United Fruit ... ... 61 Ward Bak 'A' 8 Wrigley ... 55 55% Retail Stores— Ass Dry Goods.. .. ... 13 12% Best & Cos ... . . 24% Gimbel Bros ... ... 4% Gimbel pfd ... ... 16% Gr Un Tea 4% Hahn Dept Sts 5% 5% Jewel Tea ... ••• 29*2 Kresge S S ... 12% 12% Kroger Groc ... ... 22 Macy R H 48% May Dept St 25 Mont Ward ... 21 20% 21 20% Penny J C 47 46% Safeway St ... 40% 38% Sears Roebuck.. 40% 40% 40% 39% Woolworth ... 39 38% Aviation— Aviation Corp .... ... 8% 8% Douglass Air ... 14% 14% Curtiss Wright 2% 2% Curtiss Wr A ... 5% 5 5% 5% Nor Am Av ... 5% 5% United Aircraft. 34% 33% a4 33% Chemicals— Air Reduction 100% Allied Chem 136% 336 Am Com Alcohal .. ... 55% 57 Com Solvents .. 34% 34% Dupont 81 80% 81 80 'b Freeport Tex ... 45% 45% Liquid Carb 27% Math Alkali 40% 40% Tex Gulf Sulph. 40% 40% 40- 4 40% Union Carbide 42% 42% 47% 42% U S Ind Alcohal. 71 70% 71 69% Natl Distil inewi 32% 31% 32% 95% Drugs— Coty Inc 3% 3% 3% 3% Lambert ... 30% 30 Lehn & Fink 19 Zonite 7 6% Finaneial— Adams Exp 814 •% Allegheny Corp ... ... 4 4 C'hesa Corp 34% Transamerica 6 5% 6 5% Tr Conti Corp 4% 4% Building— Am Radiator ... 13% 13% 13% 13% Gen Asphalt . . 15% 15% Int Cement ... ... 33% Johns Manv ... 53% 53 53% 52% Libbv Owens G 30 29% Otis Elev ... 13% i3s /8 Ulen Const 214 Miscellaneous— Am Bank Note 13% Am Can 91 80% Anchor Cap ... ... 21% Bkivn Man Tr 30% 30% Conti Can ... 65 64% Eastman Kod .... ... ... 74% Owens Bot 77% 77% 77% 75% Gillette 11% 11% Glidden 15% 15% Gotham Silk 8% 8% Indus Ravon 74% 74 Int Rapid Tr 10 10% Real Silk H 9%

U. S. Government Bonds

By United Press NEW YORK. Nov. 8 —Closing Liberty Bonds: (Decimals represent 32nds. 1 Fourth %s called 101.19 LIBERTY 3%s 132-47* f.... 101. First 4%s i32-47) 102.10 4th 4%s '33-381 102.24 4’s '47-521 107.30 4s '44-541 104.22 3%s ' 43-471 100 5 3%s '46-561 102.26 3%s '4l-431, March 100.8 3%s i4O-43i. June 100.9 3%S '46-491 98 8 3s 151 -551 96 24 '4li 9928 4th %s called 101 19 4%s (451 100.7

Bright Spots

By Vnited Press American Telephone and Telegraph earns September net operating income of $1,472,647, against $701,850 in September last year. General Motors Corporation reports October sales of 53.054 cars, against 10,924 units in October, 1932. Wheeling & Lake Erie railroad reports September net income of $222,979, against $139,460 in September last year. American Iron and Steel Institute places October ingot output at 81.225 tons, against 41.810 tons in October, 1932. Walgreen Company reports October sales of 54.159.975, against 53.662.570 in October last year. Timken Roller Bearing Company earns third quarter net income of $970,334. against net loss of $193,013 in like 1932 period.

STOCK MARKET MOVES UPWARD IN FASTTRADE Most Issues Fractionally to 2 Points Higher; Volume Gains.

Average Stock Prices

Average of thirty industrials for Wednesday: High. 96 05; low. 91.82; last. 95 54; |up 3.04. Average of twenty rails; 39.5". 34 14. 39.43, up 1.16. Average of twenty I utilities: 24.73, 23,41, 24 53, up 1.01. Aver- ] age of forty bands: 81.74. off .21. BY MAX BUCKINGHAM rnited Press Financial Editor NEW YORK, Nov. 9.—The stock market opened strong and active today as decline of the dollar, in relation to other foreign currencies, continued. There was a preponderance of inj flation psychology in Wall Street. Many traders expected something j further to be announced that would j aid inflationary plans. Already the ! dollar dropped to 62.35 cents in relation to gold here, 62.96 cents in relation to the pound sterling on basis of today’s London gold price and 63.22 cents in relation to the French franc. Meanwhile the better tone in the street was aided by announcement that bank clearings for the week ended Nov. 8 were 24.2 per cent better than the corresponding week of 1932. Cotton felt the inflationary enthusiasm and opened 20 to 50 cents a bale higher. Opening of the stock market was marked by blocks of 1,000 to 5,000 shares with prices fractionally to almost 2 points higher. Almost all groups shared with leading issues. U. S. Steel was up % at 42% on a 1.000 block sale. j. I. Case was up 1% at 71%.

Bank Clearings

INDIANAPOLIS STATEMENT —Nov. .—9 Clearings $1,674,000.00 Debits 4,465,000.00 TREASURY STATEMENT —Nov. 9 Net balance for Nov. 7 $1,380,223,459.15 Misc. Int. rev. repts 4.032.417.53 Customs rets. (mo. to date) 7.055,948.76 New York Curb (By Abbott, Hoppin & Cos.) —Nov. 8— Close; Close Allied Mills .... 9%Gulf Oil of Pa.. 51 Alum Cos of Am 74 Hiram Walker,. 39)4 Am Beverage .. 2 Hud Bav Min... 10 Am Cyanide 8.. 10% Humble Oil 88 Am Gas & El. 23 Imperial Oil Ltd 13% Am Superpower 3 % Int Petrol 20 Asso Gas & El. % Lake Sh Min... 49% Atlas Corp 12% Lone Star Gas.. 6% Brazil Tr & Lt, 12% Massev Harris.. 4% British A Tob A 28%. Natl Av 9% British Celanese 3% Natl Bellas Hess 2% Can Ind Ale A. 17% Newmont Min .. 51% Can Marc 2% Nia Hud Pwr... 5% Carrier Corp.. 6%,Pan-Am Airways 49% Cities Serv 2% Park Davis ".. 20% C'om'nwealth E. 40 Penn Road 2% Cord Corp 7% St Regis Paper.. 2% Creole Petrol... 11 Sal Creek Prod. 6 Distillers Lim.. 21 Shenvin Wms... 44% Distillers Corp. 22% Std of Ind 30% El Bond & Sh.. 16% Std of Ky 15% Fisk Rubber.... 7%Stutz Mts 7% Ford of Can A 11% Technicolor Ind 11% Ford of Europe 5% Teck Hughes G. 6% Gen Aviation.. 5% Un Pwr & L (A) 3 Glen Alden Coal 13% Wr Hargraves M 7%

Foreign Exchange

(By Abbott. Hoppin & Cos.) —Nov. 8— Close. Sterling. England $4.95% Franc, France 0614 Lira, Italy 0827 Belgias, Belgium 2190 Mark. Germany 3745 Guilder, Holland 6330 Peseta, Spain 1318 Krone. Norway 2490 Krone, Denmark 2215

Federal Farm Loan Bonds

(By Blyth & Cos., Inc.) —Nov. 8— Bid. Ask. 4s Nov. 1, 1957-37 83% 84% 4s May 1. 1958-38 83% 84% 4%s July 1, 1956-36 84% 85% 4%s Jan. 1, 1957-37.. 84% 85% 4%s May 1, 1957-37 84% 85% 4%s Nov. 1. 1958-38 84% 85% 4%s Dec. 1, 1933-32 100 100% 4%s May 1, 1942-32 89 % 90%. 4%s Jan. 1, 1943-33 89% 90). 4%s Jan. 1, 1953-33 86 87% 4%s July 1. 1933-33 86 86 4%s Jan. 1. 1955-35 86 86 4%s July 1, 1955-35 86 86 4%s Jan. 1, 1956-36 86 86 4%s July 1. 1953-33 89 90% 4%s Jan. 1. 1934-34 89 90)4 4%s July 1. 1934-34 89 90V* 5s May 1, 1941-31 94% 96 5s Nov. 1, 1941-31 94% 96 Home Loan 4s. July 1, 1951... 84 85%

Daily Price Index

/(.it United Press NEW YORK. Nov. 8. —Dun & Bradstreet's daily weighted price index of thirty basic commodities, compiled for the United Press: (1930-1932 average. 100) Today 101.06 Monday 100.08 Week ago 98.9 Month ago 98.89 Year ago 74.53 1933 High 1 Julv 18> 113 52 1933 Low 1 Jan. 20) 67.86 Copyright. 1933. bv Dun & Bradstreet. Inc.

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

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

AUGUST SEPTEMBER. OCTOBER, NOV. rV 72 ** 5 I) 18 2V Z 3 16 23 30 6 I Ii MON. DATES ! [ " ! ~ i ! 72 ij ‘ n=M44=jj !;; ,^*,-^l,-• i rrri ; : i;:l-■■; i tn —s Z ——t I ——^fin —ft—^9 1 —■ i i=m =3'z=z |, y l - ' ' ' I I—T--o—Jif K :;? I III!! 1 11?-!- !■ j ; j ! | ' ' ' .11 I ■ ' ' ' |f t 48 -| ' ! ii ig ? 5 " ;SiS - -/AT M ;! 1 5 500 I |~| E | |j]lln 1! i |‘j ll 11 If!

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.

THE INDIANAPOLIS TIMES

On Commission Row

—Nov. 9 Fruits i Cranberries—Cape Cod early blacks. 25lb box.. $2 10 Grapes—California seedless, crate, *2 50; j California Tokays, crate. *1.60. Ohio Concords. 12 2-quart baskets. $1.75; Michigan i Concords. 32-quart basket. 35c, New York, : 17-lb. basket. 60c. | Melons California Honeydews. (9- | 12st *2 50: Persians i6-Bsi per case. *2: Casabas ißsi per case *2. Pears—Washington DAniou (90-1655), 1 82.75: Washington Bose. 1100-1355), *2 75; ► Avacos, Fla.. 10-16ci. crate, *2. Bananas—Per pound. sc. Apples—Wealthy, Wolf River, Grimes Golden Jonathan. Florida (46s to 80s>. 51. 25® 1.75 a bushel; fancy Jonathans, $2 a box. Grapefruit—*3® 3.25. Prunes—ldaho Italian, 16-lb. lugs. *l.lO. Oranges—California Valencias, *3.50® ; *4 25 a box. Lemons—(36os) *5.5C©6, Vegetables Cabbage—lndiana Dannish, 50-lb. bag, $1; Eastern Dannish. 50-lb. bag, *1.15. Onions—Utah Spanish, 50-lb. bag. 51.75: 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; limas. $5 a crate. Beets—Home grown, dozen. 25c; bulk per bushel, 85c. Carrots—California. $3 25® 3.50 crate. | Cauliflower—Utah, tlos-lls-12si crate, $1.50. Celery—Michigan Mammoth, bunch. 60c; i medium bunch. 40c: hearts, 30c: 16 bunch flat crate, 85c. California. $303.50 crate. Lettuce—Home grown, 15-lb. basket. 60c; I home grown. Endfice. dozen. 40c; Iceberg. ! best 5s crate. $4.50; hothouse, 15-lb. j basket, 75c. Radishes—Hothouse button, 35c dozen, i Spinach, broadleaf. per bushel, 75c. I Turnips, per bushel, 75c. Tomatoes—California. $2.25, 30-lb. basket | hot house, sl, 8-lb. basket. Potatoes—Northern Round White. 100-lb | bag. $1.50; R. R. Ohios, 100-lb. bag. $1.60; i 15-lb. bag. 33c; Wyoming triumphs. 100I lb. bag. 82.10. Sweet Potatoes—lndiana Jerseys No. 1. hamper, $1.40; Nancy Halls, per bushel.

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 $14.25 Coke, nut size 8 75 Coke, egg size 875 Indiana, forked lump 5.500! 575 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 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.

Produce Markets

Delivered In Indianapolis nricos—Hens. 8c; Leghorn hens. 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, 24c; strictly {P ts °® : 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. 9.—Eggs—Receipts. 966; market firm; extra firsts. 26c; dirties 12® Market, steady; receipts, 8.186; specials, 14%c; current receipts, 20®22c. Butter—market, steady; receipts, 8,186; specials. 23%®24c; extras, 23c; extra firsts. 20%@ 21%c% firsts, 18@19%c; seconds, 17® 17%c; standards, 21c. Poultry—Market! steady; receipts, 5 trucks; fowls, 12c; light hens, 9c; Leghorn chickens, 8c; heavy Plymouth Rocks, 11c; heavy white ducks, 9%c; small ducks, B%c; colored ducks, 9%c; geese, 10c; turkeys, 13c; roosters, Bc. Cheese—Twins, 12@12%c; Longhorns, 12%@12%c. Potatoes—Supply liberal; demand and trading moderate; market firm on russets, steady on others; Wisconsin round whites. $1.25@1 30; Minup.ota and North Dakota Red River Ohios, sl.lo® 1.20; Idaho russets, $1.65®1 75combination grade, [email protected]; few select cars. $1.45® 1.55; U. S. No. 2. $1.30; Colorado McClures. $1.60® 1.65: shipments, 550; arrivals. 98; on track. 337.

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Nov. 8— Bid. Ask. American Bank Stocks Corp .76 86 American & General Sec A... 5.25 6 25 Basic Industry shares 298 British Type Inv Tr sh 45 ’52 Collateral Trustee shares A.. 4.25 462 Corporate Trust shares <old >.. 207 212 Corporate Trust shares (new) 2.18 222 Cumulative Trust shares 3.77 380 Diversified Trust shares A. .. 6.25 Diversified Trust shares 8... 6.77 697 Diversified Trust shares C 2.85 2 90 Diversified Trust shares D... 4.58 4 68 First Insurance Stock Corn.. 133 139 First Commr.n Stock Corp 84 99 Fixed Trust Oil shares A 7.95 Fixed Trust Oil shares 8... 6.70 Investors Inc 16.50 16.75 Low' Priced shares 5.15 5.25 Mass Inv Trust shares 16.62 18.00 Nation Wide Securities 2.96 3.06 North Amer Trust shares (53) 1.74 North Am Tr shar (55-56).. 2.21 2.27 Petroleum Trust shares A... 800 11.00 Selected American shares ... 2.50 Selected Cumulative shares.. 6.25 650 Selected Income shares 3.50 3.75 Std Amer Trust shares A. .. 2.75 2.80 Trust Shares of America 2.77 .82 Trustee Std Oil A 5.20 5.36 Trustee Std Oil B 4.65 4.75 U S Electric Lt & Pwr A 11.00 11.50 Universal Trust shares 2.75 2.82 NEW YORK COFFEE RANGE —Nov. 8— SANTOS High. Low. Close. January . . 8.22 March 8.34 8.32 May ; 8.35 July 8.38 8.32 8.38 September ... 8.59 December ■ ... 8.20 RIO January ... 5.38 March 5.94 5 93 5.94 May 6.03 6.02 6.03 July 6.08 September 6.16 6.15 6.16 December 5.81 5.80 5 81 NEW YORK RAW SUGAR FUTURES —Nov. 8— High. Low. Close. January 1.30 1.29 1.30 March 1.35 1.32 1.35 Mav 1.40 1.36 1.40 July 1.46 1.43 1.45 September 1.51 1.49 1.51 December 1.30 1.29 1.30 Plumbing Permits John McAra, 2247 Broadway. 3 fixtures. A. C. Backmeyer, 1005 Cha’dwick, 4 fixtures. H. Deer, 1275 Oliver, 1 fixture. Strong Bros.. 4226-27 Manlove, 2 fixtures. C A. Johnson, 107 N. Illinois, 5 fix-

Inti. Harvester Johns-Man villa Nat. Biscuit Pub. S. of N. J. Sears Roebuck Stand, of N. J. Un. Aircraft U. S. Steel

Union Pacific Westinghouse

SWINE VALUES DROP 20 CENTS AT STOCKYARDS Cattle Prices Unchanged; Veals, Lambs Mostly Stationary. A decline of around 20 cents under yesterday’s average was evident in hog trading at the Union Stockyards this morning. Action was shown in practically all grades. The bulk, 160 to 325 pounds, sold for $4.15 to $4.20. Large receipts with a small demand was believed responsible for the decrease. Other weights scaling 325 pounds and up were salable at $4.05 to $4.10, while 130 to 160 pounds brought $3.65 to $4. Lightest | classes weighing 100 to 130 pounds | sold at $3.35 to $3.50. Receipts were I estimated at 12,000; holdovers, 185. Only slight interest was displayed in beef steers, with indications j holding around steady. One load of ! choice grades held at $5.50. Others mostly common and medium grades. She stock showed little change. Vealers displayed a strong trading range, selling at $7 down. Cattle receipts numbered 1,000; calves, 600. Initial trade in the lamb market was around stationary at the previous session, with the undertone weak. Most grades oi lambs sold at $7.25, while some choice ewe and wether classes held at $7.50 down. Receipts were 3,000. Asking remained steady at yesterday’s average on hogs at Chicago. Early action was light with no bids evident. Bulk prices were undetermined. Receipts were estimated at 30,000, including 10.000 directs. Holdovers, 2,000. Cattle receipts numbered 7.500; calves, 1,500; market, weak. Sheep receipts were 1,000; market, unchanged. HOGS Nov. 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 8. 4.35® 4.40 4.50 9.000 9. 4.15® 4.20 4.20 1,200 * Market, lower. (140-160) Good and choice S 3.85® 4.00 —Light Weights—-(l6o-180) Good and choice ... 4.15 (180-200) Good and choice... 4.15 —Medium Weights—-(2oo-220) Good and choice.... 4.20 1220-250) Good and choice.... 4.20 —Heavy Weights—-(2so-350) Good and choice.... 4.20 1290-350) Good and choice.... 4.10® 4.20 —Packing Sows—--1350 down) Good 3.60® 3.85 (350 up) Good 3.50® 3.75 (All weights) Medium 3.25® 3.60 —Slaughter Pigs—-(loo-130) Good and choice.... 3.35® 3.50 CATTLE Receipts, 1,000; 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) — 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 excluded) Good (beef) 2.50® 3.25 Cutter, common and medium.. 1.50@ 2.50 VEALERS Receipts, 600; market, steady. Good and choice $ 6.00® 7.00 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-800) 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, 3,000; 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, Nov. 9.—Hogs—Receipts. 10,000: market, slow; opened 10® 15c lower: 160-2 SO lbs., [email protected]; top $4.25 for several lots heavies scarce' a few 150-160 lbs , s4® 4.10; 100-110 lb. pigs, $3®3.25: sows mostly $3®3.35 with a few at $3.50. Cattle—Receipts. 3,200; calves, receipts, 1.500: market, not established on steers; indications about steady on light supply; mixed yearlings and heifers steady; largely $4®5.50; cows unchanged at $2.50®3; low' cutters. $1.25® 1.75; top sausage bulls, $2.90; vealers, 25c higher with top $7; slaughter steers, 550-1,100 lbs., good and choice, $5®6.25; common and medium, [email protected]; 1,100-1,500 lbs., choice. ss@6: good $4.25®5.75; medium, [email protected]. Sheep—Receipts, 2,500; market. not established; packers talking lower; small lots of city butchers strong at $7; a few at $7.25; indications steady on throwouts and sheep; lambs 90 lbs. down, good and choice. $6.50®7.25; common and medium. $3.50® 6.50; yearling wethers, 90-110 lbs., good and choice, $4.25%5.65; ew’es, 90-150 lbs., good and choice, $1.50® 2.75; all weights, common and medium. sl@2. PITTSBURGH. Nov. 9. Hogs—Receipts, 3.600; holdovers. 450; early sales, mostly 20 cents low'er: top and bulk, $4.60; 170-230 lbs.. $4.50® 4.60: 230-260 lbs.. $4.25; 260-300 lbs., [email protected]; iOO lbs., down. s4® 4.25: bulk packing sows, $3.75. Cattle— Receipts, 50; nominal. Calves—Receipts, 150: slow' and steady; good and choice vealers. $6®6.50; heavy calves, $5 down. Sheep—Receipts, 3.000; nothing done early sales; when packing. 50c low'er or $7.25 down for lambs: few sales mixed at $6.25 and $6.50; aged wethers, quotable, $3.25 down. CLEVELAND. Nov. 9.—Cattle—Receipts. 200; market slow and steady, choice steers. s6® 6.25: others. $3.25® 5.50. according to weights and grades; common to good heifers. s3® 4.50: good cow's. $2.75 ®3.25. Calves—Receipts, 350; market 25 cents lower in dull trading: choice to prime. s7® 7.50; common. s3® 5. Sheep— Receipts, 4.000; market, 25 to 40 cents low-

er on restricted demand; choice wethers. spring lambs: choice. $6.50 I'd 7; good to choice. $6.50@7; medium to good. $5. common and cull. s3f 4.50. Hogs—Receipts. 2,500: market 30 cents lower; heavies, $4.35; choice and light butchers and choice Yorkers, $4.35; pigs, $3.75. LAFAYETTE, Nov. 9.—Hogs—Market, 10c to 25c lower; 225-325 lbs., $3.95f7 4; 170225 lbs.. S3.9oft 3.95; 140-170 lbs., $3.60® 3.75; 100-140 lbs . S3.lsft 3.40; roughs, $3.50 down; top calves, $5.50ft6; top lambs, $5.50. EAST BUFFALO. Nov. 9.—Hogs—Receipts. 900; holdovers. 110; fairly active, largely to shippers; sft 10c under yesterdays average; bulk desirable 150-210 lbs., $4.75ft 4.80; few decks 200-350 lbs.. $4.85; pigs and underweights. $4.35ft 4.60. Cattle —Receipts, 400; reactive cows predominating; market draggy. weak to 25c lower; cutter cows largely $1ft1.75. Calves—Receipts, 50; vealers unchanged. $7.50 dewn. Sheep—Receipts, 300; lambs dull, weag to 25c under yesterdav's high; good to choice ewes and wethers. $7.35ft7.60; with truck lambs down from $7.50; medium kinds and fat bucks, s6.soft 6.75; throwouts, $5.25ft 5.75. FT. WAYNE Nov. 9.—Hogs—4oe lower; 200-225 lbs.. $4; 225-300 lbs.. $3.90; 300350 lbs., $3 80: 160-200 lbs . $4.90 150-160 lbs.. $3 70; 140-150 lbs., *3.50; 130-140 lbs., $3.25: 100-130 lbs., $3: roughs, $3.25; stags, $2.25; calves. *7; lambs, $7. By Times Special LOUISVILLE. Nov. 9—Cattle—Receipts, 350; salable supaly light: market fully steady; bulk common to medium steers and heifers. s3ft4: best fed lightweights eligible to $5.50; bulk beef cows. s2ft2 50; low cutters and cutters. *1ft1.75; bulk sausage bulls, $2.50 down; Stockers and feeders nominally steady. Calves—Receipts. 150; steady; bulk better vealers. $5ft5.50: strictly choice handvweights eligible. $6: medium and lower grades. $4.50 down. Hogs—Receipts. 900: 30c lower; 180 to 275 lbs . $4 20; 280 lbs. up. $3.50. 140-175 lbs.. $3 60: 135 lbs., down. $2.75; sows. $2.75: stags. $1.50. Sheep—Receipts. 150: mostly steady; medium to good lambs. $5.50ft6; choice kinds higher bucks mostly, $4.50® 5; fat ewes. sl®2. Receipts yesterdav: Cattle. 1 603: calves. 104: hogs. sheep. 261. Poison ivy and poison oak are not the same, although they often are confused; the former is prevalent in Canada and the eastern states, while the latter is rare except in the southern states.

—Today and Tomorrow-

Upper and Lower Limit on Devaluations of Money Expected to Be Fixed by U. S. BY WALTER LIP PM ANN

FUSION has done very- well, but its victory is by no means complete. New York City has a federal form of government; by electing the mayor and controller and the president of the board of aldermen, fusion has captured the central government. It has also captured three out of the five boroughs. But it has lost in Manhattan and in the Bronx and in the county elections, involving the important office of district attorney. This means that on all questions of general policy fusion is in control. There is here, of course, a great gain. Fusion will make the budgets and take charge of transit policy, franchises, contracts.

the social services, education, the police. But, having failed to elect its district attorneys it will not control the whole machinery of law enforcement. This may prove to be a serious handicap when fusion goes to war against racketeering. This election turned out to be a crushing defeat for Tammany Hall as the leader of the Democratic party in New' York City. But the Tammany organization as such, in its own domain on Manhattan island, did astonishingly well. It failed to cam- Manhattan for Mayor O'Brien, but it gave the mayor 37 per cent of the vote. He polled only 26 per cent in Brooklyn and Richmond. 24 per cent in the Bronx, 23 per cent in Queens. Tammany elected its borough president in Manhattan, its district attorney and other minor officials. It was in Brooklyn, above all, that the regular Democratic organization was overwhelmed; in other words, it w-as

Tammany’s ally, the McCooey organization, rather than Tammany itself, that cracked up seriously. It has been by means of the alliance with McCooey in Brooklyn that Tammany in Manhattan has dominated the city. The empire of Tammany has been destroyed, but the basic Tammany organization has not been.

ON the other hand, the attempt by Mr. Farley and by Mr. Flynn of the Bronx to seize the control of the city-wide organization failed completely. The McKee candidates made a poor showing, though the local Flynn candidates in the Bronx were successful. The upshot seems to be something like this: New York City still is an overwhelmingly Democratic city. Sixty per cent of the vote went to Democratic organization candidates. Fusion, made up of Republicans and Independents, has only 40 per cent of the electorate. There is, however, a civil war within the Democratic organization. In this war Messrs. Flynn, Farley and McKee are strongly intrenched in the Bronx. Tammany is strongly intrenched in Manhattan, the other boroughs represent the territory' that neither controls if he is to reorganize the democracy in New York. . a a a THE distribution of the vote indicates rather strongly that the

Chicago Stocks 1 Bv Abbott. HoDDin & Cos. "

—Nov. 8— Total sales, 46,000 shares. High. Low. Close. Abbott Lab 8% Acme Steel Cos 26 25 26 Asbestos Mfg ... 3*4 Assoc Telephone Util ... % Bastian-Blessing B*/ 7 S'/s Bendix Aviation 14% 13*/8 14*8 Eerghoff Brew Cos 8% 8% 8% Binks Mfg 1% Borg-Warner 16% 15% 16% Borg-Warner pfd 88 E L Bruce Cos 14% Butler Bros 4% 3% 4% Cent 111 Pub Serv pfd.. 19 18% 18% Cent 111 Securities com V* Cent Ind Pow'er pfd ... 6 Cent Pub Serv Class A % Cent & So West ... lVa Chi & North Western... 8% 7% 8% Chi City & Con Rys ... % Chicago Corp com 2% 2% 2% Chicago Corp pfd 22 *4 21% 22% Chicago Mail Order ... 14% Cities Service 2*4 2 2*4 Coleman Lamp & S ... 6 7 a Commonwealth Edison . 40 33% 39% Cord Corp 8 7% 7% Crane Cos ... 5% Crane Cos pfd 37 36 37 Dexter Cos 4% Electric Household ... 10 Gardner-Denver Cos ... 19 General House Util 14% 13% 14 Godchaux ‘'B’’ 6 5% 6 Goldblatt Bros 20 % Great Lakes Dredge 20 19 20 Greyhound Corp 6% 6 6 Births Girls Alfred and Helen Lukens, Methodist hospita 1 . Harmon and Thelma Pritchard, Methodist hospital. Daniel and Nina Lilley, Methodist hospital. Lester and Hazel Bedford. Methodist hospital. Crawford and Edna McDonald, 605 Lord. Archie and Cecil Paulson. 1227 Bates. Charles and Opal McFall, 1221 North Tremont. Peter and Gladys Ransdell, 1906 Duke. Izra and Pearl Carrico, 2018 Mabel. Henry and Janie Wilson, 648 Patterson. Bernard and Ruth Long, 1930 Kentucky. Loving and Mary Rose. 1633 Cornell. Guy and Julia Chapman. 621 East Maryland. Cecil and Dorothy Buskner. 2322 North Arsenal. Arthur and Helen Brandt. 2836 Brookside. Oval and Cora Witty, Coleman hospital. Myron and Geneva Bentley, Colemand hospital. Chauncey and Dorothy Marks. Coleman hospital. Boys Charles and Ethel Carll. 2911 Pennsylvania. St. Vincent’s hospital. Joseph and Helen White, Methodist hospital. Louis and Mayme Sentir, Methodist hospital. Robert and Mary Sullivan. Methodist hospital. Maurice and Etheline Elliott, Methodist hospital. John and Eva Reynolds. 1240 Beecher. Richard and Nellie Roach, 407 West j Norwood. Floyd and Edna Lovell, 402 South Warman. 1 Robert and Elsa Marlin, 349 East Merrill. Ira and Hazel Gumerson. 1213 Calhoun. Alvia and Hazel Deßee, 820 Bates. William and Sally Austin. 1604 North Sheldon. Cahrlie and Christina White. 2284 Indianapolis. William and Catherine Rountree, Christian hospital. Raymond and Sarah Ashby, Coleman hospital. Frank and EEileen Chambers, Coleman hospital. Garland Mary Satterthwaite. Coleman hospital. < Irwin and Eva Shank. Coleman hospital.

Deaths John E. Lagle. 53, city hospital, fractured skull. John Washington Page. 80, 1501 West Twenty-third, chronic myocarditis. Conrad John Kindler, 57, 1223 South Highland Road, lobar pneumonia. Anna S. Schulte, 58, Long hospital, obstructive jaundice. William H. Goens. 85. 2628 Boulevard place, cerebral hemorrhage. Joseph Maibucher, 68, Methodist hospital. encephalitis. Virginia Mae Wolfe, 10 months, Riley hospital, broncho pneumonia. Walter Hill, 55, city hospital, miliary tuberculosis. Louise C. Jacks. 54. Central Indiana hospital. cerebral apoplexy. Jessie M. Moore. 53, 1655 East Tabor, carcinoma Richard Leon Beck. 50, Methodist hospital, acute nephritis. blinFman LOSES JOB AS TOLL OF PROGRESS Connecticut Lamplighter Made Idle by Electricity. By United Press SOUTH GLASTONBURY, Conn., Nov. 9. Modem electric lights have put an end to the job which Walter B. Kellam, blind lamplighter of this town, has held for twentyfive years. Kellam has attended to the lighting off the range lamps along the Connecticut river which guide the boats past this town at night. Regardless of the weather, Kellam has done the job each evening for twenty-five years, trimming the wicks of the old oil burning lamps, and filling the tanks when necessary. The old style lamps were in use about fifty years. ■i

Lippmann

fusion victory was due in the main to a revolt of the small home owners and the small taxpayers. In spite of Major La Guardia's reputation as a ‘‘radical,'’ it does not appear that he obtained any special support among wage earners. The figures seem to show that there has been typical uprising of the so-called "average man” against bad government, high taxes and favoritism, rather than an expression of deeper social discontent. It remains to be seen whether fusion can turn w'hat is in appearance an ordinary victory for "reform” and "good government.” into something more lasting and significant. Honest government is badly needed in New York, but honest government is not enough. The city will tire of merely honest government as it has in the past if along w'ith the honesty there is not a persistent and successful effort to prove to the people that a really good municipal government is able to raise the general standard of life.

Grigsby Grunow 1% 1% 1% Houdaille-Hershev A 10% Houdaille-Hershev B . 3% 3% 3% Kalamazoo Stove 20 18 20 Katz Drug ... 21 Kingsbury Brew Cos ... 8% 8% 8% Lion Oil Refining Cos ... 6 Lynch Corp 34 32% 33 Vs Maples Cons Mfg Co.-.. .. ... 33 Marshall Field 13% 12% 13% Meadows Mfg Cos com 13 Middle West Util % % % Midland Util 6% A pfd % Muskegon Motor Sp (A) 9% 8% 9% National Repub Inv 1% National-Standard 20 Noblitt-Sparks Indu Inc 24 North American Car 4 No West Util Pr Lien.. .. ... 2 Pines Winterfront ... 1% Prima Cos \\' Public Service N P . 17% 17% 17% Quaker Oats 115% 113 115% Raytheon V T C 2 1% 2 Reliance Mfg C’o nr. Sangamo Elect com . 5 Sears Roebuck 40 % 38% 40 Swift &Cos 14% 14 14% Sw'ift International ... 24% 23 24% Thompson J R ... 734 U S Gypsum com 45 44% 4534 Viking Pump 2% Vortex Cup Cos 6% 6 6% Walgreen Cos com 18% 18% 18% Ward Montgomery A 64 Waukesha Motor ... 29% Wayne Pump com ’ % West P L & Tel A i,~ Wieboldt Stores 10% Zenith Radio 1%

Iri the Cotton Markets

Nov. B. CHICAGO High. Low. Close. January 9.86 9.50 9.86 March 10.02 9.69 9.99 July 10.30 9.95 10.27 October 10.45 10.15 10 45 December 9.79 9.41 9.77 ‘ NEW YORK January 9.79 944 977 March 9.96 9.57 991 May 10 09 9.77 10.05 July 10.33 9.86 10.18 October 10.39 10 09 10.38 December 9.72 9.37 9.68 NEW ORLEANS January 9.76 942 9.73 March 9.94 9.55 9.88 May 10 08 969 10.04 July . 10.20 9.84 10.19 October 10 32 December 9.69 9.32 9.64 CHICAGO FRUIT MARKET By United Press CHICAGO, Nov. 8. Apples—Michigan Jonathans bushels, $1.15®1.25; Baldwins bushel, 90c® sl. Carrots—lllinois bunch. !%®2%c bunch. Spinach—lllinois, 50® 65c bushel. Beans—Southern wax 75c® $1.50 bushel hampers. Cabbage—Wisconsin, [email protected] crate. Grapes—New York, 40®45c: 12-quart. Celery—Michigan. 30® 60c crate; 35®75c square crate. Mushrooms—lllinois, 17%® 30c. Cucumbers— Southern, sl®2; Central Western hothouse, $1.50® 2.25. Tomatoes—California, $1.25®; 1.50; Illinois and Ohio hot house, 65® 7Cc. Onion Market: Idaho—Washington Valentias bushel. 70®85c. Wisconsin yellows bushel, 65® 70c. Indiana yellows bushel, 65® 70c. Illinois—Yellows bushel, 65® 70c. Midwestern whites bushel, sl® 1.10. In the Air Weather conditions at 9 a. m.: West northwest wind, 27 miles an hour, gusty; temperature, 28; barometric pressure, 30.05 at sea level; general conditions, broken clouds; ceiling 2,000 feet; visibility, 15 miles.

Bank Consultation Department This Department is prepared to furnish complete analysis of securities holdings and acts in an advisory capacity to Banking Institutions. Inquiries Invited T. P. BURKE & COMPANY INCORPORATED INVESTMENT .SECURITIES 217-224 Circle Tower Telephone Riley 8535 FORT WAXNE—LINCOLN BANK TOWER

TRAVEL OPPORTUNITIES THIS WINTER Here are seven suggestions for delightful winter voyages, each extravagant in enjoyment and highly thrifty in cost! Hawaii $220 Australia $616 New Zealand $495 Hawaii (17 days I $326.50 New Zealand (46 days). .5615.75 Australia (46 days) $655.20 v_ South Seas and Oriental Cruise, SI,OOO. For Details on These Winter Cruises Consult Richard A. Kurtz, Manager Travel Bureau The Leading Travel Bureau of Indianapolis 6UNION TRUSTS 120 E. Market St. , RI ley 5341

PAGE 17

BULLISH NEWS SENDS FUTURE PRICES HIGHER Inflation and Decline in U. S. Dollar Are Early Factors. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. Nov. 9—Strength in 1 stocks and sterling and a declin- : ing American dollar sent grains ! higher at the opening of the Board of Trade today. Wheat futures were % to IV4 cents higher; corn was % to % cent I higher; and oats were up % cent, j Rye was as much as 1% cents higher. j Brokers believed the bullish unj deriving influences were beginning to be appreciated. Inflation is again a factor and , news from Washington suggests to many that more constructive conditions are developing. Movement | of wheat to market has been very | light and there has been enough i lull in flour demand to expect action i from that source shortly. Many corn dealers expect a widj ening of the December and May spread. In view of the largp stock of corn here, the suggestion is that December longs will be anxious to sell out and replace in a deferred contract. With short crops of j feeding grains and government 1 effects to increase prices, owners of cash corn probably will be willing to switch hedges from December to May. - 9 Chicago Primary Receipts —Nov. 8— Bushels Las' . Today week. Wheat 312,000 535.000 Corn 645 000 1.142,000 Oats 159,000 205.000 Chicago Futures Range WHEAT— ~ No '- ®— prev High. Low. 10 00. close. Dec SO 3 * .89% 90 .88% May 93V* .92% .92% .91 July 90% .90% .90% .88% CORN— Dec. .48% .47% .48% .47% May 54% .53% .54% .53% July 56 .55% .55% .55 OATS— Dec .36% .35% .36% .35 May 39% 38% .39% .38 July 38% .37% .38% .36% RYE— Dec .61% .61 .81% .59% May 67% ,67 ,87% .GSN July 67% .67 .67% .65% BARLEY— Dec .. .. .48% May 54% .53% July .. .. .54% CHICAGO CASH GRAIN By Times Special CHICAGO, Nov. 8-—Cash grain close: Wheat—No. 2 red. 88%c; No 5 red. weevIly. 85c; No. 2. mixed. 86%c. orn—(Old) No. 2 mixed. 45®46%c; No. 1 yellow. 46c; No. 2 yellow. 45).,®46%c; No. 3 yellow, 44%®44%c: No. 4 yellow. 43%®44c; No. 5 yellow, 42%c; No. 1 white. 45®46c; No. 2 w’hite. 46%c; sample grade white. 36c; (new) No. 5 mixed. 39%c: No. 3 yellow, 41%®44c; No. 4 yellow 40®42c; No 5 yellow. 42c; No. 2 white. 42®43c; No. 3 white. 40®41c: No. 6 white. 39c. Oats—No. 2 white. 35c: No. 3 white. 34®34%c. Barley—--43®74c. Rye—No sales. Timothy—ss 50® 6. Clover Seed —$10.50®: 12.75. Cash provisions —Lard. $4.95; loose. $4.80; leaf. $5.87; D. S. bellies, $5.62. Toi.r.no cash grain Bp United Press TOLEDO. Nov. B.—Grain close: Grain In elevators, transit billing. Wheat—No. 2 red. 90%®. 91 %c. Corn—No 2 < ellow, 50%®51%c. Oats—No. 2 white, 394/40c. Rye—No. 2. 73® 74c. Track prices. 28%c rate: Wheat No. 1 red. 87%®88c; No. 2 red, 86%®87%c. Corn—No. 2 yellow, 46® 47c: No. 3 yellow. 43®46c; No. 4 yellow, 40®45c. Oats—No. 2 white. 36®37%c; No. 3 white. 35® 36Vic. Clover- Dec., $7.40A: March. $7.55A. Alsika—Cash, $8.50; Dec., $8.70. KT. LOUIS CASH GRAIN By United Press ST. LOUIS. Nov. B.—Cash grain: Wheat —ln fair demand. 1% to 3%c higher: No. 2 red. 90® 92c; No 3 red 89®90 >4 c: No. 3 red garlicky. 86®88%c: No. 2 hard. 88% ®B9%c. Corn—ln good demand. % to l%c higher: No. 2 vellow, 45%®46c: No. 3 yellow. 42® 45c; No. 4 vellow. 39%®39%C. Oats—ln fair demand, unchanged to %c hieher; No 2 white. 36c: No. 3 white. 35%c; No. 2 mixed, 35%c. NEW' YORK CASH GRAIN By United Press NEW YORK. Nov. B—Cash grain--Wheat—No. 2 red. $1.04%: No 2 hard winter. $104%. Corn—No. 2 mixed. 49%c. Oats—No 3 white, 35;c. All quotes C. I. F. New York.

Indianapolis Cash Grain

—Nov. 8— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41 % New York rate, were: Wheat—Strong: No. 1 red. 80%®81%c: No. 2 red, 79%®80%c: No. 2 hard. 79%® 80 %c. Corn—Strong: No. 2 white. 39®40c: No. 3 white. 38® 39c; No. 2 vellow 37%®38%c; No. 3 vellow 36%®37%c: No. 2 mixed. 36%®37%c: No. 3 mixed. 35%®36%c Oats—Strong: No. 2 white. 31%@32%e: No. 3 white. 30®>31 %c. Hay—Steady; (F o. b. country points taking 23%c or less rates to Cincinnati or Louisville). No 1 timothy. s6®6 50: No. 2 timothy. $5 50® 6. —lnspections Wheat—No. 1 red. 3 cars: No. 2 red. 6 cars; No. 2 mixed. 1 car Total. 9 cars. Corn—No. 2 white. 3 cars; No. 3 white. 1 car; No. 4 white. 1 car: No. 2 vellow. 14 cars; No. 3 vellow. 14 cars: No. 4 vellow. 7 cars: No. 6 vellow. 1 car. Total. 41 cars. Oats—No ? white. 3 cars: No. 3 white. 3 cars. Total. 6 cars. INDIANAPOLIS WAGON WHEAT Citv grain elevators are paving 79 cent* for No. 2 sort red wneat. utner grades on their merits.