Indianapolis Times, Volume 45, Number 158, Indianapolis, Marion County, 11 November 1933 — Page 9

NOV. 11, 1933.

Long-Term Capital for the Development of Depression “Children” Would Aid Trade Recovery. By RALPH HENDF.RSHOT Time* Special financial Writer

The Chemical Industries Exposition will be held early in December. Forty companies will place on view the products of their laboratories perfected since the beginning of the depression. Os these E. I. DuPont de Nemours alone will present 266 new products. It undoubtedly will rank first in the number of depression “children.” In all probability the manufacture and marketing of new products

such as will be shown at the exposition will play an important part in the next business boom. Millions of dollars have been spent in their perfection, and a favorable market plus operating capital is all that is awaited to begin their wholesale production and distribution. These operations should go a long way toward eliminating the present unemployment. Concerns like DuPont have sufficient capital to develop and market their new products. But in all probability there are a great many smaller companies not so favorably situated. The production of these new products represents national progress, and the administration might do well to encourage their sale by granting loans to these infant industries where they show reasonable promise of success. Modification of the new securities act so that they may secure long-term through the usual channels might prove a worthwhile alternative.

, | c r

Ralph Hendershot

Encouraged by Silver Rise Wall Street is greatly encouraged by the recent advance in the price of silver. Jackson Brothers, Boesel & Cos., members of the New York Stock Exchange, make the following comment in that connection: We place considerable confidence in anew influence which is just beginning to assert itself in all markets. We refer to the probable substantial rise in the price of silver, and maintain that such a development would have far more favorable effect on business than artificial juggling of the price of gold. We envisage a growing demand for American products from countries which would be directly affected by a rise in silver and believe that this would do more to reduce American surpluses than a mere domestic plan designed to accelerate purchases by American citizens only.” a a a • * * The Gold Market Control Recent developments indicate that the United States and England may engage in a tussle over which is to control the world market for gold. Recently the price of gold was lowered in London, while the price the United States government offered to pay was kept unchanged. Our policy has pushed sterling above parity in the foreign exchange market, and the chances are that England is not particularly pleased over the development. It will be mteresting to see what steps are taken in London to keep the pound from going out of sight if we continue to increase the price at which we will purchase the yellow metal. The abandonment of the tariff agreement by Great Britain was regarded m some quarters as a move in retaliation.

New York Stocks

———————— — —“(By Abbott. H . —Nov. 10— „ . Prev. Oils— High. Low. Close, close. Amerada 44 43 43 43 2 All Itgi 31 30 s 30 ,2 30 BarnsuaU 8% % 8% 8% lonsol Oil 12 Ji* " IH'" Com ol Dei .. 1# l< lB Houston i new i ** -7* HouMon iold).. 24*4 23 * *4 ** 4 Inuian Kfg •• *;a, ej. Mid font i*et .. 13’h }2 4 13 h Omo Oil IoU lav* J?; 8 Corp •• 11 4 1 * 1 Phillips Pet.’.’... 16 l s Pure Oil 12 h 12 12 12* ' R(v al Dutch. .. 3< *4 3/V* 37 2 38 6t)U Oil 3o m 34*2 3o 3d 4 Shell Un 9 ' 8 * bminis Pet 10’e 10 10 lo* Skeney oil " 4 boo vac . ... 14 13 7 a 14 13 s bO oi Cal 43 42 *, 42,2 bO ol aKn . •34 *4 34 *4 34 *u ... bOol NJ. .. 44*4 48 ’ g 43 h 43'1* bull Dll r jO iexas corp. .. 25 j b 25‘b 2o*b -j'b Tidewater Assn, lot* lots 10‘b 10 Un on of Cal... 20 19% 19 >s 20 •Steels— Am Roll Mills.. 17% 16% 16% li Be til Steel 31-2 29% 23% 31% Byers A M 24% 23% 23 „ 24% Col fuel Ac Iron 8)2 8 5 s‘. true Steel 17% 18 Guif Sts Steel.... 21 Inland steel .... 3U% 29 29 ... Luaium Steel .. .. ... ... 12 W , McKeesport Tin .. ... 82 82 •* Natl Steex 39 38% 38% 38‘2 Hep Iron Ac Steel 13% 13% 13% 13 'a Rep Iron Ac Stt p2B 2 2i% 28 2(% j C S Smejt 10U’.t 9i 98 99 Vanadium 20-2 19% 13% 13% 1 Mid Sieei 11% 11% 11% 11® L S fipe Ac Fdy . ... 18% 16 I L s Steel 42% 40% 40% 42 V S Steci pld .. 80% 80 80% 80 I Youngstn SAc T 18% 18 18 18% Kaus — Atcmsou 51 % 49% 49% 51 Atl L.SI Line 33% 32 32 33% B % O 24 b 23% 23% In Can Fac 13 12% 12 a 13-2 Ch Ac Ohio .. 41 4040% 40 a cm Ac Gt W 3% ... C 11 u Si 2 5% 5% 5% 5% C MAcSt P pld. 9 8(2 8% 8% Chi N W 8% 8% 8% 8% Chi R Isl 3 b 3% Chi R I 7 'o pid ... ... 6% ... Dela Ac Hud 55% 53 53 54% Erie 16% 15 15% 16% C.rt Northern 19 18 18 13 Hi Central 28% 26% 26% 27% K C 12 Lou Ac Nash . . . 43% 42% 43% 43% M K & T ... 8% 8% Mo Pac 4% 4 4 4% Mo Pac pfd b 5% 5% 5% N Y Cent 37% 35% 35% 36 NY Chi Ac St L 16% 16% 16% 17% N Y ChiAcSt L pid 18 ’r 16 18 % 18% N Y New Haven. 18 17% 17% 17% N Y Out Ac Wes 8% 9% Norfoli. .Sc We 5.152% 150 152% 150 Nor Pac .... ... 22% 21% 22 21 % Penn R R.. 28% 27 27 28 Sou Pac 21% 20% 20% 21 Sou R R 24 22% 22% 23% Sou R R pfd . 26 24% 24% 26 % Union Pac 111% 110 % 111% 111% Wabash ... 2-% 2% West Mary 9% 8% 8% 9% Motors — Auburn ... .... 43% 41 41 43 Shrvsler 43% 42% 42% 43% Gen Motors 31% 40% 30% 30% Giaham Mot ... 2% 2% 2% 2% Hudson 11% 10% 10% 10% Hupp 3% 3% Mack Truck. . 28% 28 28 28% Nash 20% 19% 19% 20% Packard 3% 3% 3% 3% Reo 3% 3% 3% 3% Studebaker 5 4% 4% Yellow Truck 5 4% 4% 4$

Motor Accessories — Bendlx .... 14V 13V 13V 14V Bohn Alum ... 48 V 47V 47V 46, Boig Warner .. 16 V 16V 16V 16V Briggs 9 9 V Budd Wheel .... 3'a 3V 3V 3 V Eaton Mfir . ... 11V 11 11 11 Elec Auto Lite .16 15V 15V 15-. Hand A 3V 3V 3V 3V Mullins Mfg .... 4V .... Murrav Bodv .. 5 V 5 V 5 V 5V Stew Warner .. 6’s 5V 6 6 • Timken Rol .... 28V 27V 28 27V Al‘asa Jun 26V 25V 25 V 25V Am Smelt 48 46V 46 s 4<V Anaconda • 16V 15V 15V 15V Cal & Hecla .... .... 5 Cerro De Pasco.. 40V 38V 39 39V Cranbv 19 9's 10 9 s Ct Nor Ore 10V 10V 10V 10V SSSrSSJP* Ik % In? ' 21V 20V 21 " 21V C°o a p l : i 22V -21 V 22V Noranao Cop -. 34V 33V 34V 34V Phelps Dodge .. 16V la’s 16 16V Tobaccos — Am Snuff 49 49 Am Sum Tob ... .. ... 14V ... Am Tob *Ai... *2 31V ‘IV .3 Am Tob (8t.... 74V 72- 72 * .3V Gen Cigar 29V 29V Lig & Myers tß> 85V 84V 84 V BaV Lorrilard 17V 17 17 17V Reynolds Tob B 45V 44V 44V 45 Tauipments— Alhs Chalmers.. 20V 19 19 19V Am Car A: Fry.. 26V 24V 24V 25V Am Loco . 29V 29V 29V 29V Am Mach A- Fdy . .. 14V 14V a Am Steel Fdv. 19 18 V 18 V IS -i Falri Loco 12V 11V 11V 12V Burroughs 14V 14V 14V 14V Case J 1 73V 69V 70 71V Cater Tract 21V 21 21V 21V Colgat Palm Peet 14 13V 13V 13V Congoieum .. 24V 23V 23V 24 Elec Stor Ba’ 42 41 s , 42 41V Foster Wheeler . 15 V 15 s , 15V 15V Gen Am Tk Car 30 1 j 29 V 29 V 30V Gen Elec 21V 20', 20S 21V Gen R R Sir 32 32 V lilgsol Rand .. 57V 57V ST 3 * 57V Int Bus Mach . .. .. 143 V Int Harvester . 40S 3SV 38V 39V Kelvinator ... 10V 10 V 10 V 10V Nat Cash Reg .. 15 V 15 15 15V Prcc A Gam . 41V 41V 41V 41V Pullman litc ... 46 45 46 46 Simmons Bed .. 18V 17V 17V 18 L’nd Elliot 28 29V West Air B ... 27V 326 V 2oV 27 Westingh Elec 39 s * 37V 37V 38V Worthing Pump. 23 22V 22V 23 l ttlities— Am A- For Pwr . 10V 10 10‘s 10V Am Pow & Lt . 8 V 7V 7 V 8 AT&T. 118 116 116 116 V Am Wat Wks 20V 20 2 0 20V Brook Cr. Gas .. 62V 62 62 V 63 Col and & E>c .. 13 V 12 s . 12V 13 V Col G A- E Pfd 60 61 Com A- Sou .... 2 V 2 2 2 Consol Gas .40 38 V 38 s * 40 V Elec Pwr & Lt 6V 6 6 6 1 . EPA- L Pfd 11V 10V 10V 11V Bit TANARUS& T . 15V 14', 14V 14V Lou O A- E A 16V 15V 15V 15V N*t Pwr A- Lt 11 10V 10V 11V North Amer 17V 17 17 17 V pac G & E 20 18V 18V 20 Pub Ser N J .35 33’. 34V 35 s . So Cal Edison 17V 17 17 17v Std Gas 9V 9V 9V 9V ltd Gas nfd . . 10V 10 10V 10V - United Coro . 5V ss,5 s , s s . s’. t?n Gas Imp 16V 15V 15V 16V Ut Pwr Lt A' .. 3 V 33 JV West Union 53V 50V 51V 53 Rubber*— Firestone 22V 21V 21V 22 Goodrich ..... 14’. 14V 14V 14V Goodyear 36V 34V 34V 36 U 8 Rubber .... 18V 16 s . 17 17 s * U S Rub pfd .... 29V 27V 27V 28V Kelly Soring ... 3 2V 2\ 3 Amusement*— Crosier Radio 10V

Wall Street.

>ppm & Cos. I Fox Thea ... 14% 14% Loews Inc 29% 28% 28% 29u Radio Corp 7% 7% 7(a < % RKO 2% 2% 2Va 2% Warner Bros ... 6% 6% 6% 6'* Foods— Am Sugar 56% 55 55 57 Armour A 5 4% 3% 3% Beatrice Cream. 13% 13% 13% 13% Borden Prod .. 23% 22 a 23 22% Cal Packing . 22 21% 21% 22% Can Dry G Ale.. 29 27% 27)a 28% Coca Cola ... ... 97% Cont 13ak A ... ... 10% Corn Prod 73% 72% 73 73 Crm of Wheat .. 28% 28 28% 28 Gen Foods 36% 36% 36% 36% Gold Dust 17% 17% 17% 18 G W Sugar 38% 37% 37% 38% Hershey ... ... 48% lilt Sait ... 24 25 Loose Wiles . 4040 Natl Biscuit .. 44% 43V 43% 43 Natl D Prod 15% 15% 15% 15% Pet Milk 11 Purity Bak ... . 14% 13% 13% 14% S Porto Rico Sug 43 42% 42% 42% Std Brands . ... 25 24% 24V* 24% United Fruit ... 61 % 61 61 62% Wrigley ... 54% Retail Stores— Asso Dry Goods. 12V* 12 Vb 12% 12% Best Ac Cos ... . .. .. 25% 25-2 Gimbei Bros 4% 4% 4% 4% Gimbel pfd . . ... 17% Or Un Tea 4% Hahn Dept Sts . 5% 5% 5% ,5% Jewel Tea ... 30 30% Kresge S S 12% 12% 12% 121* Kroger Groc .... 22% 22 22 22% Macy R H 48% May Dept St .. 26% 26% 26% 27% Mont Ward .... 21 20% 20% 20% Penny J C 49 48 48% 48% Safeway St ... 42% 41 41% 42 Sears Roeouck .41 >■* 39% 40% 41 Woolworth 39% 38% 39% 38V* Aviation— Aviation Corp .. 8% 8 8% 8% Douglass Air 14 Vs 14% Curtiss Wright . 2% 2% 2% 2% Curtiss Wright A 5% 5 5 5 Nor Am Av .... 5% 5% 5% 5% United Aircraft . 33V* 32 32 % 33% Chemicals— Air Reduction .103 101% 101% 104 Allied Chem 130% 132 132 136 Am Com Alco.. 54% 52% 52% 53% Col Carbon .... 57V* 56 56 57 Com Solvents .. 31% 33 33 33% Dupont 41% 79 79% 80 M, Freeport Tex ... 46% 45% 46 46% Liquid Carb .. 27% 27 Math Alakli .. 41% 40% 40% 39% Tex Gulf Sulph 42% 40% 40% 40% Union Carbide... 44% 42 * 42% 43 % U S Ind A1c0... 70% 68% 69% 70% Natl Dist 31% 30-% 30% 31% Drugs— Coty Inc 3% 3% 3% 3% Lambert 29% 29% 29% 30 Lenn Ac Fink .. 19 18% 19 19 Zoime Prod .... 7% 7% 7% 7% Financial— Adams Exp 8% 8% 8% 8% Allegheny Corp . 4 3% 3% 4% Ciiesa corp .... 35% 33 a 33% 34% Transr.merica.... 6% 5% 5% 6 Tr Coni Corp... 5% 5 5 4% Biulding— Am Radiator .. 13% 12% 12% 13% Gen Asphalt .. 16 15% 15% 15a* Int Cement . 33% 32% 33% 33 Johns Manville. 53% 51% 51% 53 Libby Owens Gls 30% 29% 30 29% Otis Eiev 15% 14% 14% 14% Ulen Const 2% 3 Miscellaneous— Am Bank Note 13 131a Am Can 93% 90% 91% 91% Anchor Cap . 22% Brklyn Man Tr. 28% 28% 28% 28% Conti Can 66% 65% 65% 65% Eastman Kodak. 75% 74% 75 75 Owens Bottle .. 77% 76% 76% 77% Gillette 12 11% 11% n% Glidden la’s 15 s * 15% 15% Gotham Silk ... 8% 8% 8% 8% Indus Ravon ... 74% 72% 72% 75 Inter Rapid Tr. .. 9 9 Real Silk Hose . 10% 10 10% 10

Investment Trust Shares

( By Abbott. Hoppin & Cos.) —Nov. 10— * „ , _ Bid. Ask. American Bank Stocks Corp.. .75 86 American & General Sec A.. 5.50 6 50 Basic Industry Shares 3.10 320 British Type Inv Tr Sh 45 .55 Collateral Trustee Shares A 4 50 4 62 Corporate Trust Shares told t 2.15 220 Corporate Trust Shares (new) 226 2.30 Cumulative Trust Shares 3,90 398 Diversified Trust Shares A.. . 6 12 Diversified Trust Shares B. 687 7.12 Diversified Trust Shares C 2.97 3 07 Diversified Trust Shares D. . . . 4 75 5.00 First Insurance Stock Corp... 1.36 1.42 First Common Stock Corp.... 90 1.03 Fixed Trust Oil Shares A. .. 8 30 . .. Fixed Trust Oil Shares 8... 6.90 . .. Investors Inc 17.00 17.50 Low Priced Shares 5.35 5.45 Mass Inv Trust Shares 17.12 18.50 Nation Wide Securities 3.07 3.16 N Amer Trust Shares 153 ■ ... . 180 . .. N Amer Trust Shares (55-561 2.29 2.32 Petroleum Trust Shares A. .. 800 11.00 Selected American Shares. .. 265 . .. Selected Cumulative Shares. 6.40 6.60 S:d American Trust Shares A 2.85 2 90 Trust Shares of America ... 265 2.75 Trustee Std Oil A 5 37 5 50 Trustee Std Oil B .4 80 4 90 U S Electric Light & Pwr A. 11 25 12.00 Universal Trust Shares 2.85 2.95

Daily Price Index

By l nitfd Prrsg NEW YORK. Nov 10—Dun & Bradstreet's daily weighted price index of thirty basic commodities, compiled for the United Press 11930-1932 average. 100). Today 102 45 Yesterday 102.27 Weeg ago 99 78 Month ago ..... 98 83 Year ago 75.12 1933 high (July 181 113.52 1933 low I Jan 201 67.85 Copyright. 1933. bv Dun A: Brandstreet. Inc.)

Federal Farm Loan Bonds

—Nov. 10— Bid. Ask. 4s Nov 1. 1957-37 81% 83% 45 Mar 1. 1958-38 . . 81% 83% 4%s July 1. 1956-36 . 82% 84% 4%s Jan. 1. 1957-37 82% 84% 4%s May 1. 1957-37 82% 84% 4%s Nov. 1. 1958-38 82% 84% 4%s Dec 1, 1933-32 99% 100% 4%s Mav 1. 1942-32 86 67% 4%s Jan. 1. 1943-33 86 87% 4%a Jan 1. 1953-33 84 85% 4%s July 1. 1953-33 84 85% 4%s Jari. 1. 1955-35 84 85% 4%s July 1. 1955-35 84 65% 4%s Jan. 1. 1956-36 84 85% 4%s July 1. 1953-33 86 67% 4%s Jari 1. 1954-34 86 87% 4%s July 1. 1934-34 86 67% 5s May I, 1941-31 92% 94% 5s Nov. I. 1941-31 92% 94% Home l>dan 4s. July 1. 1051., 83 54%

STOCK SHARES CLOSE UNEVEN IN DULL TRADE Strong Buying Forces Metal Group Upward; Other Issues Weak.

Average Stock Prices

Average of thirty industrials for Thursday High 98 34. low 95 46. last 96 40. up 36'. average of twenty rails: 40.77. 39.46, 39 85, up 42. average of twenty utilities: 25.41. 24 33, 24.62. up .09; average of forty bonds: 81.54. off .20. BY MAX BUCKINGHAM United Press Financial Writer NEW YORK, Nov. 11.—The stock market drifted rather aimlessly yesterday as the dollar steadied in relation to world currencies. Toward the close prices were ragged in appearance, losses extending to more than a point and gains going to more than 2 points. Trading was dull and there was little at- ■ tempt to establishe a price trend. The dollar had a fairly wide range. Sterling opened at $5.16% dropped to $5.11 %, moved back to $5.15 and around market closing time was at $5.11*4. At this figure the dollar was a little. stronger, the French franc moved at about the same ratio. Carloadmgs Decline United States Steel reported October deliveries of finished products about two thousand tons less than September. The weekly carloadings figures showed the customary seasonal decline from last week, but cosiaerably above the coresponding week of 1932. Motor car production for October was down 33 per cent from September, but 415 per cent above October, 1932. Repeal stocks were among the chief losers today. Schenley Distillers was off 1% point, to 34%, while National Distillers was off more than a point at 92 %. United States Industrial Alcohol was off almost 2 points. The communications issues, which yesterday leaped on rumors of a new communications alignment] underwent some profit-taking today. Western Union was off a point at 52 International Telephone ranged around the previous closing level of 14%, while Radio slipped fractionally. Metal shares received a little encouragement, buying in these issues being reported at about a 4 to 1 basis as compared with other groups on the board. Few Issues Strong. Mclntyre Porcupine was up 1% points to 45%. Homestake advanced 26 points to 330. Dome mines gained 2% points to 28%. U. S. Smelting had about a point gain while American Smelting was fractionally higher. Rails were mixed, New York Central showing a fractional gain to 36%. Oils were a little easier. Utilities eased with Consolidated Gas off more than a point at 39, and Public Service of New Jersey down fractionally. U. S. Steel held close around its previous close of 42, after dipping below 41, while American Telephone showed a fractional advance at 117%.

Bank Clearings

INDIANAPOLIS STATEMENT —Nov. 10.— Clearings $2,096,000.00 Debits 4,133,000.00 Clearings for the week 10,034.000.00 Debits for the week 23,772,000.00 TREASURY STATEMENT —Nov. 10Net Balance for Nov. 8... .$1,373,487,553.59 Misc. Int. Rev. Rcpts..... 3.154.270.78 Custms rcpts. (mo. to date) 7.293.522.89 New York Curb —Nov. 10Close Close Allied Mills 9%;Grt Atl & Pac .127% Alum Cos of Am 74 j Glen Alden Coal 13 Am Beverage... 1% Gulf Oil of Pa. 52% Am Cyanide B. 10% Hiram Walker. 36% Am Gas El. ... 22 Hud Bay Min... 10 Am Superpower 3 I Humble Oil .... 88% Ass Gas & E 1... %' Imperial Oil Ltd 14% Atlas Corp 12 Int Petrol 20 Axton Fisher T 2 Lake Sh Min... 50 Brazil Tr Lt.. 12%'Libby McN Lib. 3% British Am TA 29 i Massey Harris.. 4% British Cclanese 3% Natl Bel Hess.. 2% Buckeye Pipe L 36 ,Newmont Min. 5% Can Ind Ale A. 162 Nia Hud Pwr... 5% Can Marc 2% Pan Am Airways 30% Cities Serv 2% Park Davis 22% Commonwth Ed 52 |Penn Road .... 2% Cord Corp 7% St Regis Paper. 3 Creole Petrol... 11 ISal Creek Prod. 5% Crown Corp Inti 7 Iherwin Wms... 43% Deere & C 0.... 31%!Std of Indiana. 31 ineus ..beal.. &A:A;ArStd of Ky 15% Distillers Lira.. 20%iStutz Mts 7% Distillers Corp.. 20%technicolor Ind. 10% El B <Sr Share. .16'buT Hughes Gold. 6% Fisk Rubber... 7%'U Pwr &Lt A.. 2% Ford of Can A . 11% W’ rthiHgar Ford of Europe 6 (Wright Harg M 7%

Foreign Exchange

(Bv Abbott. Hoppin & Cos.) —Nov. 10— — Close Sterling. England $5.12% Franc. France 0629 Belgias. Belgium 2242 Mark, Germany 3845 Guilder. Holland . 6485 Peseta. Spain 1340 Krone. Norway 2575 Krone. Denmark 2295

U. S. Government Bonds

By Vnitfd Press NEW YORK. Nov. 10—Closing Liberty bonds: 1 Decimals represent thirty-seconds.) LIBERTY 3%s (32-47) 99 25 First 4%s .32-47i 101.21 Fourth 4%s i33-38. 101.14 Fourth 4%s called 101 12 TREASURY 4%s (47-52) 105.31 4s 144-54. 103.8 3%s .46-56) 101.4 3%s (43-471 99 3 3%s .41-431 March 98 30 ! 3%s (40-43) June 99. 1 3%s .46-49) 95.28 1 3s (51-55. 95 1 3%s .41) 98.25 4%s (45) 98 28

In the Cotton Markets

—Nov 10— CHICAGO High. Low. Close. January 10.09 9.97 10.00 March' 10 25 10.14 10.17 Mav 10 40 10.27 10.27 Jttiy 10-53 10.42 10.44 December 10 00 9.86 9.98 NEW YORK I January 10 03 9.92 9 92 'March 10.19 10,06 10 06 Mav 10 31 10.19 10.19 July 10.44 10.33 10.33 December 9.95 9.83 9.83 NEW ORLEANS January 9.91 9.86 9 86 March 10 17 10.01 10.01 Mav 10 31 10.15 10 15 July 10.36 10 30 10.30 October 10 54 10 37 10.45 December 9.91 9.77 9.77 NEW YORK COFFEE FUTURES —Nov. 10— SANTOS High. Low. Close. I January 5.45 March' 8 62 8 55 8 62 Mav 8.67 8 58 8.67 July 8.69 8 61 8 69 ; September 8.89 8 78 8 89 December 8 44 8 35 8.43 RIO I January ... 6.05 I March 6 20 6.14 6 15 I Mav 6.27 6.24 6.24 September * 6.38 6.30 6.30 December 6.05 5.99 . 6.01

THE INDIANAPOLIS TIMES

On Commission Row-

—Nov. 10— Fruits Cranberries—Cape Cod early blacks. 25- ! lb. box.. $2.10. Orapes—California seedless, crate. $2 50: California Tokavs. crate $1.60: Ohio Concords. 12 2-quart baskets. $1.76; Michigan Concords, 12-quart basket. 35c; New York. 17-lb. basket. 60c. Melons California Honeydews, <912s> $2 50; Persians 6-8s) per case. $2; Casabas • Bs> per case $2. Pears—Washington D'Anlou <9O-165?), $2.75; Washmuon Bose. HQO-135sj. $2.75; ; Avacos. Fla.. iO-18ci. crate. $2. Bananas—Per pound. sc. Apples—Wealthy. Wolf River. Grimes Golden Jonathan. Florida (46s to 80s>. $1.25® 1.75 a bushel: fancy Jonathans, $2 a box. Grapefruit—s 33 3 25. Prunes—ldaho Italian. 16-lb. lugs, sl.lO Oranges—California Valencias. $3.5044 $4.25 a box. Lemons—(36os. 55.5056. 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. 51.50; Indiana white. 50-lb. bag. 51.40; Indiana, yellow, 50-Ib. bag, 75c, 10-ib. bag. 18c. Beans—Round strlngless, bushel. $7; limas. $5 a crate. Beets—Home grown, dozen, 25c; bulk per bushel, 85c. Carrots—California, 53.2553.50 crate. Cauliflower —Utah, (10s-lls-l2s) crate. $1.50. Celery—Michigan Mammoth, bunch, 60c: medium bunch. 40c: hearts, 30c; 18 bunch flat crate. 85c. California. s3® 3.50 crate. Lettuce—Home grown. 15-lb. basket. 60c; home grown, Endice. dozen. 40c: Iceberg, best 5s case. $4.50; hothouse, 15-lb. basket, 75c. Radishes—Hothouse button, 35c dozen. Spinach, broadleaf, per bushel, 75c. 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. ICO-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. $1.25.

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 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; sirlctly rots off; each full egg case must weigh o 5 lbs. gross; a deduction of 10c a pound for each pound under 55 pounds will be made. Butter—No. 1. 20@26c; No. 2. 22® 23c. Butterfat, 18c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Nov. 10.—Eggs—Receipts, 858: market, firm; extra firsts. 26%c; dirties, 12®14%c; current receipts, 20® 22c. Butter—Market, steady; receipts. 10,757; specials, 23'4®24c; extras, 23c; extra firsts, 20%@21 Vic; firsts. 18®19%c; seconds, 17@17%c: standards, 21c. PoultryReceipts. 50 trucks; market, steady to lc lower; fowls, 12c; light hens, 9c; Leghorn chickens. 8c; heavy Plymouth Rocks. 11c; heavy white ducks, 9%c; small ducks, B' 2 c 1 e colored ducks. 9%c: geese, Be; turkeys, 13c; roosters, Bc. Cheese —Twins, 12® 12%c: Longhorns. 12%@12%c. Potatoes —Supply liberal demand and trading slow 1; market about steady; Wisconsin round whites, $1.20® 1.30; Minnesota round whites, $1.05®. 1.15; North Dakota and Minnesota Red River Ohios. sl.l2 1 2 @1.20; Idaho Russets. $1.65®; 1.75; U. S. No. 2. $1.30® 1.35; Colorado McClures, $1.60® 1.65; South Dakota early Ohics, $1; shipments, 656; arrivals. 63; on track, 286. CINCINNATI. Nov. 10.—Butter—Packing stock No. 2,14 c; No. 3.10 c: butterfat. 17c. Eggs—Higher; (cases included) extra firsts. 35c; seconds, 25c; nearby ungraded. 32c. Live poultry (following quotations represent prices for poultry in good healthy condition. Thin and coarse stock sells only at heavy discount)—Fowls 5 lbs. and over. 10%c; 4 lbs. and over, 10c; 3 lbs. and over. 8c; Leghorns, 3 lbs. and over, 8c; colored broilers, 1 lb. and qver, 15c; 1 1 2 lbs. and over, 13c; 2 lbs. and over. 13c; colored fryers, 3 lbs. and over, 13c; roasting chickens, 4 ibs. and over, 13c; Leghorn broilers 1 lb. and over 15c; 1% lbs. and over, 13c; 2 lbs. and ever, 9c; partly feathered, 8c; ducks, under 3 lbs., sell at liberal concessions: ducks, white. 4 lbs. and over, 10c; under 4 lbs.. 9c; colored, 4 lbs. and over. 8c; under 4 lbs., 7c; guineas, old. 6c; young guineas, 1% lbs. and over, 15c; 2 lbs. and over, 15c; No. 1 turkeys, young hens. 8 lbs. and over, and young toms, 10-15 lbs., sl3c; young toms, over 15 lbs., 15c.

Indianapolis Cash Grain

—Nov. 10— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. 0. b.. shipping point, basis 41'% New York rate, were: Wheat—Weak: No. 1 red, 81%@84%c; No. 2 red. 80%®81%c; No. 2 hard. 80%®. 81 %c. Corn—Weak: No. 2 white, 40®41c: No. 3 white, 39® 40c; No. 2 yellow. 38%®39%c: No. 3 yellow. 37%®38%c; No. 2 mixed. 37%®38%c; No. 3 mixed. 36%®37%c. Oats —Weak: No. 2 white. 32@33c; No. 3 white. 31®32c. Hay—Steady: (f. o. b. country points taking 23V2C or less rates to Cincinnati or Louisville) No. 1 timothy, $6®,6.50; No. 2 timothy, 55.50®6. —lnspections Wheat—No. 1 red. 3 cars; No. 2 red. 4 cars. Total. 7 cars. Corn —No. 2 white, 3 cars: No. 3 white, 2 cars; No. 4 white. 1 car; No. 2 yellow. 12 cars; No. 3 yellow, 6 cars; No. 4 yellow, 10 cars; No. 5 yellow, 1 car; No. 6 yellow, 3 cars; No. 2 mixed, 2 cars; sample mixed. 1 car. Total. 41 cars. Oats—No. 2 white. 1 car; No. 3 white, 6 cars; No 4 white, 2 cars; sample white, 2 cars. Total. 11 cars. Chicago Primary Receipts —Nov. 10.— Bushels Todav Last Week Wheat 346.000 503,000 Corn 551.000 784.000 Oats 112.000 165.000 Chicago Futures Range —Nov. 10WHEAT— Prev. Open. High. Low. Close, close. Dec... .90% .91V* .89>/s .89% .91% May... .93% .94% .92% ,93Vs .94% July... 91% .92 .90'% .90% .92% CORN— Dec... .48% .48% .47% .47% .48% May... .54% .55 .53% .54% .55% July... 56% .56% .55% .56% .57 OATS— Dec... .36% .37 .35% .35% .36% May... .39% .40 .38% .38% .39% July... .38% .38% ,37V* .37% .38'* RYE— Dec... .62% .62% .59% .60% .62% May... .69 .69 ,66V* .67% .68% July... 68% 68% .65% 66% .68'* BARLEY— Dec .. .. .48% .50% May... .55% .55% .53% .53% .55% July... . .. .. .54% .56% LARD (Old) Nov 5.55 5.57 Dec.. 5.55 5.55 5.50 5.55 5.57 Jan . 6.15 6.15 6.15 6.15 6.17 May 6.57 6.57 BELLIES (Old.— Dec.. 5.00 5.15 5.00 5.10 5.12 Jan ... ... 5.60 5.60 May 6.20 6.20 BELLIES 1 new.— Dec 5.75 5.75 Jan 6.15 6.12 May 6.80 6.75 LARD (new) Nov 6.10 6.12 Dec 6.10 6 12 t Jan 6.70 6.72 May.. 7.05 7.05 7.05 7.05 7.10 INDIANAPOLIS WAGON WHEAT City grain elevators are paving 82 cents for No 2 sort red wneat. Otner grades on their merits. CHICAGO CASH GRAIN By United Press CHICAGO. Nov. 10.—Grain close: Wheat —No. 2 red. 91 ®9l V*c; No. 3 red, 91%c; No. 1 hard. 91%c: No. 2 hard. 90%c. Corn : 47 s *® 48’ic; No. 3 yellow. 47® 47%c. No. 5 yellow. 45% ! @46c: No. 2 white, 47 s *tfl 48%c; (new. No. 2 yellow. 46%c: No. 3 I yellow, 44®46c: No. 4 yellow, 42%'g44e: ! No. 3 white. 44%®.44%c; No. 4 white. 44c. Oats—No. 2 white. 36'-; t r 3Bc: No. 3 white, i 35%® 46’*c: No. 4 white. 34’ 2C. Bariev—--45® 73c. Timothy—SS.SO'ife. Clover Seed — SlO 50® 12.75. Rve —No sale. Cash pro- ■ visions; Lard—s6.lo: loose. $5.90; leaf, S6: D. S. bellies. $5.75. TOLEDO CASH GRAIN I By United Press TOLEDO. Nov.- 10.—Grain close: (grain lin elevators, transit billing): Wheat—No. 2 red. 92® 93c. Corn—No. 2 yellow. 51@ 52c. Oats—No. 2 white. 39%®40%c. P.ve i—No. 2. 74®75c. 'Track prices. 28%c rate 1 : Wheat—No. 1 red. 88®89%c; No. 2 red. 88® 89c. Corn—No. 2 vellow. 46%@ 47c. No. 3 vellow, 43%®46%c: No. 4 vel- ; low. 40%®45’-<: No. 5 vellow. 37%3 44%c. Oats—No 2 white. 36% ;. 38c; Nd. 3 'white, 35%<g37c. Toledo seed close: Clover—Dec . $7.40A; Mar . 87.65A. Alsike —Cash. $8 50: Dec.. $8.70 CHICAGO FRUIT MARKET By United Press CHICAGO. Nov. 10—Apples—Michigan Jonathans. $1.15®1.25; Baldwins. 90c® SI. Pears—lllinois and New York. $1 bushel. Carrots—lllinois. 2® 3c bunch Spinach— Illinois. 50® 65c Beans—Southern wax and green. 50c®$l 25 bushel hampers. -Cabbage—Wisconsin. $16125 crate. Grapes —New York. 40® 43c. 12 quarts. Celery I —Michigan. 50® 60c crate. Mushrooms—- . Illinois. 20® 35c. Cucumbers—Southern. sl®2: central western hothouse, 5150®2. Tomatoes—California. sl6 150; Illinois and Ohio hothouse. 65® 75c. Beets —Illinois. 1%62c bunch. Leaf lettuce—llliinois. 10® 15c box. hothouse. Onion market—ldaho. Washington Valencias. 75®85c; Wisconsin yellows. 62%@J5c: Indiana yellows. 62%@75c: Illinois Yellows, (3%@ Midwestern whites, sl. ♦

PORK MARKET STEADY TO 10 CENTSLOWER Cattle, Lambs Stationary; Veais Unchanged at $7 Down. Swine prices at the local stockyards yesterday remained steady to around 10 cents higher than Thursday's average on weights scaling 160 to 260 pounds. Early trading was fairly active on all classes. The bulk, 160 to 300 pounds, sold at $4.20 to $4.25. Heaviest weights ranging from 300 pounds up were selling at $4.05 to $4.15, while 130 to 160 pounds sold at $3.65 to $4.15. Lightest ggrades from 100 to 130 pounds brought $3.35 to $3.50. Receipts were estimated at 6,000; holdovers, 415. Cattle trading was scarce and mostly steady, with several odd heads selling at $3.50 to $5.25. She stock was slow and steady in a satisfactory week-end clean-up trade. Vealers continued to display a steady trading range, selling at $7 dow r n. Catttle receipts numbered 400; calves, 400. Lamb market was slow in developing, with all interest talking lower. Few initial bids ranged from $7 down. Early supply included mostly yearlings valued at around $5. Receipts were 2,000. Asking on hogs at Chicago held stationary at the previous average at $4.50 down. No initial bids were evident. Receipts were estimated at 27,000, including 17,000 directs; holdovers, 17,000. Cattle receipts were 2.000; calve, 600; market slow and unchanged. Sheep receipts numbered 5,000; market stationary. HOGS Nov. 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 10. 4.20® 4.25 4.30 6.000 Market, higher. (140-160) Good and choice... $ 3.85® 4.00 —Light Weights—-(l6o-180) Good and choice.... 4.25 (180-200) Good and choice. .. 4.25 —Medium Weights—-(2oo-220) Good and choice 4.25 (220-250) Good and choice.... 4.25® 4.30 —Heavy Weights—-(2so-350) Good and choice.... 4.20® 4.30 (290-350) Good and choice.... 4.10® 4.20 —Packing Sows—(3so down) Good 3.60® 3.85 (350 up) Good 3.50 e, 3.75 (All weights) Medium 3.25® 3.60 —Slaughter Pigs—-(loo-130) Good and choice.... 3.35® 3.50 CATTLE Receipts, 400; market, steady. (1.050-1,100) Good and choice $ 5.00® 6.25 Common and medium 3.00® 5.00 (1,100-1,5001-Good and choice 4.75® 6.00 Common and medium 3.25® 4.75 (650-7501 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, 400; 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-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. 2,000; market, steady. —Lambs—(9o lbs. down) Gd. and choice.® 6.00® 7.25' (90 lbs. down) Com and med. 3.50® 6.00 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75

Other Livestock BY UNITED PRESS EAST ST. LOUIS, HI.. Nov. 10.—Hogs— Receipts. 7,500; market, steady to strong; few pigs and light lights, strong to 10c higher; top, $4.25, sparingly; bulk. 160250 lbs., [email protected]; heavies scarce; 140150 lbs.. $3.85®4.10; 100 to 130 lbs.. s3® 3.75; sows mostly $3.10®3.40. Cattle—Receipts, 1,000; calves. 800; market, mostly steady in clean-up trade with hardily enough on sale to test quotations; vealers opening 25c lower, top $6.75, with bulk of run unsold. Nominal range slaughter steers, $2.75®6.25; slaughter heifers, $2.50 @6.25; slaughter steers. 550-1,100 lbs., good and choice, sss®6 25; common and medium. [email protected]; 1.100-1,500 lbs., choice ss@6; good, $4.25®5.75; medium, $3.75® 5.25. Sheep—Receipts. 1.000; market, not established; asking steady; packers talking lower on lambs; indications steady on sheep: lambs, 90 lbs ~ down, good and choice. $6.25®7; common and medium, $3.50 u 6.50; yearling wethers. 90-110 lbs., good and choice, $4 25®5.50: ew'es. 90150 lbs., good and choice. $1.50® 2.75; all weights common and medium. sl@2. FT. WAYNE. Nov. 10.—Hogs—15c higher; 200-225 lbs., $4.15; 225-300 lbs.. $4.05; 300350 lbs., $3.95; 160-200 lbs.. $4.05; 150150 lbs., $3.85: 140-150 lbs.. $3.65; 130-140 lbs., $3.40; 100-130 lbs., $3; roughs. $3.25; stage. $2. Calves—s 7. Lambs—s6.7s. PITTSBURGH, Nov. 10.—Hogs—Receipts, 4,000; holdovers, 1,050; nothing done early; asking $4.50 or 10c lower fop 170-230 lb. averages: asking up to S3.TO for cough sows. Cattle—Receipts, none; nominal. Calves—Receipts, 100; slow and steady; good and choice vealers, [email protected]. Sheep— Receipts, 1.300: 25® 40c lower; mostly 25c off; bulk sorted around 75-lb. lambs, $7; mediums. $465.50; one load early at latter figure; cull and common. $2.50®4. CLEVELAND. Nov. 10.—Cattle—Receipts, 200; demand active; market steady; good cleanup predicted; prices for the week steady; choice 750-1,00 lb. steers. [email protected]; good 550-900 lb. steers. $5 6 5.50; ' good heifers 600-1.000 lbs., $4.25® 4.50; good cows, $2.7563.25. Calves—Receipts. 250; market active, steady; prices for the week mostly unchanged: choice to prime. s7®, 7.50; good to choic* lower. $6.50 6 7.50. Sheej)—Receipts, 2.000: market, opening 25®50c lower; trading closing quiet; prices for the week 25® 50c Tower; choice wethers, $2.50® 3.25; medium to good. $1.50® 2; choice spring lambs, $6.756 7; good to choice, $6.25® 6.75; medium to good. 35® 6; common and cull. S3®s. Hogs—Receipts. 1,000; market opening slow; first bids steady, asking 10c higher; heavies. $4.40; choice butchers 220-250 lbs.. 54.40: other grades unchanged from yesterday's prices. KANSAS CITY, Nov. 10.—Hogs—Receipts. 3.500; including 280 directs active, steady to 5c higher than Thursday's average; top s4.od on choice 180-250 lbs • light lights 140-160 lbs.. 53 40® 3.85; light weights 160-200 lbs., $3.75® 4.05; medium weights 200-250 Ibs., $3 956 4.05; heavy weights 250-350 lbs., $3.60® 4,05; packing sows $2.60® 3.25; feeder and Stocker pigs. $2.5063. Cattle—Receipts. 1.000; carves, receipts. 300; killing classes generally steady in a cleanup trade; stockers and feeders scarce, part load choice around 1.050 lb. steers. $5.65; steers, good and choice 550-1,500 lbs., $3.756 6.25: steers common and medium. $2.75® 5: heifers, good and choice 550-900 lbs.. $4 50® 6; cows, $2 15® 340; vealers. s3®6; stockers and feeders. $3.356 5 Sheep—Receipts. 2.000; including 1,500 direct and through: lambs weak to 10c lower, best fed lambs offered $6.85. LAFAYETTE. Nov. 10.—Hogs—Market, steady to 10c higher: 200-300 lbs., s4® 4.05; 300-325 lbs . $3 95; 150-200 lbs S3 15'.; 4 130-150 lbs., $3.406 3.60; 100-130 ibs.. 53.15; roughs, $3.50 down; top calves. $6; top iamos, $6. By Times Special LOUISVILLE, Nov. 10.—Cattle—Receipts, 175; market quotable steady; salable supply slaughter classes, meager; interest centering largely on sale of show cattle; common, to medium steers and heifers quotable mostly $33 4; best fed lightweights eligible to $5 50; bulk beef cows, s2® 2.50; best to $2 75 and above; low cutters and cutters. sl6 1.75; sausage bulls mostly $2.50 down; stockers and feeders nominally steady. Calves—Receipts. 225; steady: bulk better grades. $5®5.50: strictly choice handy weights to $6; medium and lower grades. 04 50 down. Hogs—Receipts, 700; steady: 180-275 lbs., $4 20; 280 lbs. up. $3.50: 140-175 lbs, $3.60; 130 lbs. down. $2.75: sows. $2.75: stags. *1.50. Sheep—Receipts. 150; steady; bulk medium to good lambs. $5 50®6; choice eligible to *6.50; bucks mostly $4.5055; throwouts. $3.50; fat ewes, *l@2. Receipts yesterdav: Cattle. 335; calves. 114; hogs, 1.036; sheep. 77. Shipments yesterday; Cattle. 61; calves. 105: hogs. 435.

Today and Tomorrow-

If We Are to Have Managed Currency, We Must Have Real Management. BY WALTER LIPPMANN

THE one clearest aspect of the administration's monetary policy is its intention. In general terms we know what it is meant to accomplish. It is designed to raise the prices of those goods which have fallen the most, so that those who produce those goods may have incomes to buy other goods and to pay their debts. The evil of a deflation ltes in the fact that some prices fall more than others; if in good times it took one bushel of wheat to buy a pair of overalls, there

is trouble if it suddenly takes two bushels of wheat to buy the overalls. This trouble is called the disparity of prices. To correct the evil of disparity the price of wheat in dollars must rise or the price of overalls mm fall, that is to say, the two prices must come together until one bushel of wheat again buys one pair of overalls. This correction of disparity in prices is now generally called reflation. It is very necessary in managing a reflation to keep continually in mind that the evil to be corrected is disparity in prices. For example, if wheat at $2 will buy a pair of overalls at $2, and then if wheat falls to $1 while overalls stay at $2. you have disparity. The farmer can not buy overalls; the maker of overalls is thrown out of work. That is the kind of evil we have been suffering from. But now supposing that by some monetary stunt you

doubled all prices, wheat would then t>e $2 and overalls S4. Would you have gained anything? You would not. What you want is to have the price of overalls stand still, or even to fall, while the price of wheat rises. Now this is, of course, a great simplification of our real situation,

but it may help to fix in mind the principle of a sound price reflation. a a o TT is interesting to examine what has happened to American price relationships since President Roosevelt took office. Fortunately there is now available an expert study of this subject covering the period up through September. The study has been made for the National Bureau of Economic Research by Frederick C. Mills. There is no more authoritative student of the subject than Mr. Mills. To put his results briefly, and without using too many figures, Mr. Mills finds that from March to July the reflation worked almost exactly as one would have desired in order to correct disparities of prices and bring the economic system into balance.

But he finds also that from July to September the tendency has been to increase the disparities and so to make it more difficult for goods to be exchanged. His findings, which are supported by closely analyzed statistics, correspond with the general sense of the country. Up to July it was generally believed that recovery was proceeding rapidly; since July there has been disappointment and a sense that recovery was halted. What was the evidence of a reflation between March and July? Ignore prices stated in dollars and measure w r hat certain classes of commodities will exchange for, that is, buy in terms of other classes of commodities. In February, 1933, the raw products of American farms could buy, at wholesale, only 64 per cent of what they bought in July, 1929. On the other hand, manufactured goods could buy 111 per cent. These are examples of what is meant by disparity. Either farm prices were too low or manufactured goods Loo high. Until the gap was closed farm products and manufactured goods could not be exchanged successfully.

Now what happened between February and July? The purchasing power of raw farm products rose from 64 to 82 per cent; the purchasing power of manufactured goods fell from 111 per cent to 106 per cent. The gap had not been closed. But it was closing. Trade was reviving. Recovery was under way. Now look at what happened between July and September; Farm prices fell from 82 to 78; manufactured goods rose from 106 to 107. The gap was opening again. The tendency was in the wrong direction. The country felt it instantly and the doubt and discontent of the last three months have reflected it. tt a THESE figures are, I repeat, merely samples. But they illustrate the problem of the administration. It is not simply a problem of how to raise prices. It is a problem of how to raise some prices and how to hold down, even to depress, other prices. For what is needed is to close the gaps which the depression has opened, and that means not only raising farm and raw material prices, but holding down retail prices and pushing down prices entering into capital equipment. For the prices of capital goods are still inordinately high as compared with other goods. The administration has recognized this fact, in forcing the steel companies to lower the price of steel rails. But it has not recognized the principle widely enough in its general policy. Under the AAA it has struggled valiantly to raise farm prices. It is also doing its utmost to raise them by depreciating the dollar. But under the NRA it has permitted, and even occasionally encouraged, a rise in the prices of manufactured goods. Yet such a rise defeats and counteracts its efforts to raise farm prices. a tt a IF we are to have a managed inflation, there must be real management. That means that the administration must be just as active in holding down prices that are relatively too high as it is in trying to raise prices that are relatively too low. Its objects must be, not to jack up everything, but to restore the balance by closing the gaps. For it is the gaps between different kinds of prices that stop the exchange of goods. (Copyright. 1933)

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 8.75 Indiana, forked lump 550 ® 5.75 Indiana, egg 5,25*2 5.50 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 8.25 Pocahontas egg 825 Pocahontas forked lump 925 Pocahontas mine run 7 25 New River smokeless 8 25 West Virginia lump 6 75 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. ST. LOUIS CASH GRAIN By United Prett ST LOUIS. Nov. 10—Cash Grain: Wheat —ln fair demand. lV®.2c lower on red and Vc lower on hard: No. 2. red 92V2 93Vc: No. 3 red 92®93c: No. 5 red 82c: No. 1. hard 91Q91Vc: No. 2. hard 90Vc nominal; No. 1. mixed 91c. Corn—ln good demand, unchanged to Vc higher; No. 1. yellow 48c; No. 2. yellow 48c; No. 3. yellow 44®47Vc: No. 4. vellotfe 42c: No. 2. white 49 Vc. Oats—ln fair tSemand. Vc lower; .No. 1. mixed 37c.

Lippmann

Chicago Stocks By Abbott. Hoppin & Cos.

TOTAL SALES, 36,000 SHARES —Nov. 10— High. Low. Clossl Acme Steel Cos 29 Asbestos Mfg ... 3% Associated Tel & Tel lA) .. ... 4% Bastian-Blesslng 8% 8% B'2 Bendix Aviation 14 s , 13% 13% Berghoff Brew Cos 9 V 9 9% Borg-Warner 16% 16 14 E L Bruce Cos 15 Cent 111 Securities com .. . . % Cent & So West T Cent & So West pfd... 4 3% 4 Chi & North Western.. 8% B'4 8V Chicago Corp com .... 2% 2% 2% Chicago Corp pfd 22% 22% 22V Chicago Elec Mfg (A).. . . 3 C’nicago Towel pfd 60V 60 60 Cities Service 2% 2 2 Commonwealth Edison.. 39% 38% 39 Cord Corp 8 7% 7% Crane Cos 6% 5% 53. De Met Inc pfe ig% Dexter Cos 41, Elec Household ”. 9% odchaux B 5% Gt Lakes Aircraft % '% % Gt Lakes Dredge 19 V Greyhound Corp 6 V 5% 5 V Griesbv-Grunow 1% 1% is, B Kalamazoo Stove 18 Kingsbury Brew Cos ... 8% 7% 8 Lindsav Light 2% Lion Oil Resin Cos 6 Lvnch Corp 33 V Mapes Cons Mfg C 0... 33% 33% 33% Marshall Field 13% 13% 13% Mickelberry's Fd Prod. .. ... 2% Muskegon Mot Spec A 10 National Repub Inv 1% Noblitt Sparks Ind Inc 24% Northwest Bancorp 4% Parker Pen 5% Perfect Circle ... 22 Prima Cos 12% 1i.% 11% Public Service N P 17% Public Service 7% pfd 52% Quaker Oats 119 118 119 Quaker Oats pfd ... 119 Raytheon V T C 1% Reliance Mfg Cos .. ... 12 Sears Roebuck 41 4040 Standard Dredging Cos 1 Storkline Furniture 4% Swift & Cos 14 13% 13V Swift International ... 28 27 27 Thompson, J. R 8% 8% 8% United Gas Corp 3 Utility & Ind 1 Walgreen Cos.. Com ... 18 17V 17V Ward. Montgomery A . 68% 67 67 Zenith Radio 1% Other Livestock BY UNITED PRESS CHICAGO, Nov. 10.—Hogs—Receipts. 27,000, including 17.000 directs; market, not established; occasional sale 10c higher; top $4.50: most intrests bidding $4.35 down; light lights 140-160 lbs., good and choice, 54®4.25; light weight 160-200 lbs., good and choice, $4.10 6 4.40; medium weights, 200-250 lbs., good and cnoice, $4.30® 4.50; heavy weights 250-350 lbs., food and choice. $4.40; packing sows 27550 lbs., medium and choice, $3.1063.90; slaughter pigs 100-130 1'#.,., good and choice, $3.50® 4. Cattle—Receipts, 2,000; calves, receipts. 600; light cattle still in broadest demand, lully steady; light heifers up to $6; 900 lb. yearling steers up to $5.85, largely [email protected] market: few loads well conditioned medium weight steers, ss® 5.40; most fat cows slow, steady at $2.75®3.50; bulls and vealers scarce and steady; slaughter cattle and vealers: steers 550-900 ibs., good and choice, $5.25® 6.50; 900-1,100 lbs., good and choice, ss® 6.25; 1,100-1.300 lbs., good and choice, $4.75®6; 1,300-1.500 lbs., good and choice. $4.25® 5.85; 550-1.300 lbs., common and medium, $36.5; heifers 550-750 lbs., good and choice. $5.25®6.50: common and medium, s3® 5.50: cows, good, $3.35® 4.50; common and medium. $2.50® 3.35; low cutter and cutter, $1.65® 2.50; bulls, yearlings excluded, good beef, s3® 3.40; cutter, common and medium, $2®3.25; vealers, good and choice, s6® 7.50; medium, ss® 6; cull and common, s3® 5; Stocker and feeder cattle: steers 500-1,050 lbs., good and choice, $3.2565; common and medium, $2.25® 3.50. Sheep—Receipts, 5,000; fat lambs slow; most bids 154; 25c lower at $7.15 down; asking $7.25 and higher; few' plainer kinds, ss®6; sheep steady; bulk fat lambs. $1.50® 2.50; feeders scarce; slaughter sheep and lambs: lambs 90 lbs. down, good and choice. $6.50® 7.25; common and medium. $5®6.50; ewes 90-150 lbs., good and choice. $1.75® 3: all weights, common and medium. $1.25® 2 25; feeding iambs, 50-75 lbs., good and choice, $6®6.60. EAST BUFFALO, Nov. 10.—Hogs-Re-ceipts. 3,500; holdovers, 330; rather slow; 15®20c under yesterday's average; desirable 150-240 lbs., $4.60® 4.65. only weights above 190 lbs., at outside figure; pigs and underweights. s4® 4.25. Cattle-Receipts. 250; mostly steady: short fed steers. $5.25: fleshy grassers, $4 6 4.50; plainer kinds, $3.75 and below; cutter cows, $1®175. Calves, receipts, 350; vealers, strong to mainly 50c higher; good to choice. $7 to mainly $7.50; common and medium, ss® 6. Sheep—Receipts, 3.500; little done on lambs, mostly bids 50c under yesterday; sellers resisting downturn; few good to near choice, $6.75®7; others firmly held above $7.25; medium kinds and fat bucks, s6® 6.26; throwouts. $4.75® 5.25. CINCINNATI. Nov. 10.—Hogs—Receipts, 3.000; 472 direct and through: 845 held over; active mostly, 10c higher; good clearance in prospect: top and bulk, 180250 lbs.. $4.25: 250-300 ibs.. $4 1064 20; 150-180 Ibs . $3.75® 4.10; 130-150 lbs.. $3 50 '5 3.65; packing sows unchanged, good kinds. $35 3.25. Cattle--Receipts, 900; calves, receipts, 450; fully steady; cows in good demand; bulk fed steers and heifers, $4.25® 5; few odd lots upward to $5.75; common kinds, $2.5053 50; bulk beef cows $2.50® 3.25; low cutters and cutters. $1.25® 2.25; bulls. $2.2553; calves, strong: good to choice, $6 505 7; plainer from $6 downward. Sheep—Receipts, 800 fully steady; most fat lambs. $6 50 57; common and medium kinds. $45 5. culls s3® 4: few' yearlings. $353.50; fat aged ewes. Sl®2. Births Boys William and Rose Myers. Methodist hospital. Sevel and Phyllis Hamble, Coleman hosier al. John and Ona Mills. Coleman hospital. Carroll and Mabel Owens, Coleman hospital. Glenn and Irene Woodward, 3921 North Tacoma. Orville and Leona Smith. 431 South Oakland. Robert and Sue Archer, 55 West Fall Creek boulevard. George and Helen Worley, 41 South Sherman drive. Ernest and Henrietta Ellig, 1605 East Raymond. Girls Lindsey and Iva Myers. Coleman hospital. Dalton and Ruthella Weaver. Coleman hosoital. Werner and Elsie Susemichel, 706 Sanders. Earl and Esther Myers, 54 RegeoU Albert and Nadene Lockwood. St Francis hospital. Everett and Gertrude Hoffman. St. Francis. Deaths James W Sturgis, 7s. 542 Powell Place carcinoma. Maude E'hel Ford. 51. 410 North Linwood. ruptured bowel. Eleanor Smith. 51. 216 Hendricks place, chronic nephritis. Himan Barrett. 85, St. Vincent hospital peritonitis. John C. Bnyder. 70. 4043 Eastern, arterio sclerosis. Margaret Daily Wav. 67 3346 Park arteriosclerosis Margaret O Jesse, 66 , 3130 North Capitol. angina pectoris Andrew Taylor Turney. 82. 725 Parkway. ! teriosclerosis Kenneth R McKinney. 41. 28 West , North, cerebral apoplexy. Laura Lee. 75. 2517 North Delaware. I coronary thrombosis. S R Stafford. 45. 1318 Spann, chronic mvocarditis. Stella Lewis Bettman. 43. City hospital, chronic nephritis. James Andrew Farrow. 84 1125 Linden carcinoma. Andrew Missick. 74. 1340 Linden, arterloi sclerosis. Willie May Sexton, 43. 473 South Webster, carcinoma. NEW YORK RAW SUGAR FUTURES —Nov. 10— High. Low. Close (January 1.32 1 25 1 26 March 1.36 1 29 1.30 May 1.40 1 34 1 34 | July L* 1 39 1.39 j September 1.51 145 1.45 December 1.31 1.2 k 1.28

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GRAIN FUTURES DIP SHARPLY IN LIGHTjESSION Change in Government Loan Plan Fails to Aid Prices. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Nov. 11.—With North American markets to close for the Armistice holiday tomorrow, fairly general evening up developed on the Board of Trade yesterday and prices dipped rather sharply. Wheat futures closed 1% to 2 cents lower, com was down % to 1 cent and oats were off % to 1 cent. There was nothing in the general run of news other than the approaching Two-dav holiday to account for the decline in prices. The aggressive buying, so noticeable in wheat and other grains Thursday, was lacking. Declines, however, were orderly and the bulk of the business continued to be in comparatively small amounts. Profit-taking by Thursday's buyers sent wheat off fractionally at the start. The erratic tendency of sterling offered no further incentive for an improved market. Traders turned suddenly cautious and preferred to wait for a more stable market. Trading was not active.

BUSINESS SERVICE THESE. ADVERTISERS GUARANTEE PROMPT. EFFICIENT 6ERVICE.

Automoile Services O. F PERRY GARAGE—General automobile repairing 618 Pierson Ave. LI-8686. RELIABLE SERVICE GARAGE. General Automobile Repairing. 1001 S. Delaware. DR-4232. Auto Heaters HEATERS (Red Head), $9 50 installed. LIBERTY MOTOR SERVICE. 744 Massachusetts. LI-1788 Battery Service REMARKABLE values in batteries. ROYAL BATTERY CO.. 912 Pierson Ave. LI-5634. Boiler Dealers NEW and used steam, hot water boilers, radiation and pipe. GOLDSMITH PIPE & SUPPLY CO.. 535 S. Illinois St. U--1612. Boiler Furnace Repair W. H, EDWARDS CO . INC , 2240 Alvord St. Comp, line of Refractories. HE-2565. Brake Service WE specialize In brake service. TEMPLE GARAGE, 924 N. Illinois. RI-0264. Floor Covering Linoleum, all grades, congoleum. Low prices. BERGES S. 903 N. 111. RI-5851. Fur Cleaning FUR COATS—Cleaned, relined; quality work. ALVIS CLEANERS. HE-2166 Furnace Repairing FURNACE REPAIRING —Hand cleaning. Tinning. BINKLEY. 1449 Madison Ave. DR-2386. SANITARY HEATING AND VENTILATING CO., FARQUAR Sanitary Heating System. Repair all makes. DR-4112. ARNOLD FURNACE CO. We clean and repair any make; estimates free. HU-4560. FURNACE COILS furnished and installed. $2 75; furnace repairing. CH-5158. SUNBEAM FURNACES—We finance, repair and clean all makes. IR-1658 FURNACE REPAIRS—AII makes. Experienced men. Estimates free. F. M. HOBACK. DR-3653, FIT anv make. CAPITOL FURNACE & STOVE REPAIR CO., 229 S. Meridian. LI-3451. Garages BOWERS & WEDDLE GARAGE. General Automobile Repairing. 5167 College Ave WA-5167. Landscape Service TREES, shrubs and plants planted, reset, bulbs removed, stored. JASPER. RI-0120. Mattresses, Made Over OLD MATTRESSES made new, $3. Including feather mattresses' Inner springs, $7; also upholstering. CH-2856, Millinery MILLINERY and remodeling; very reasonable. ROSE REMY, 811 Occidental Bldg. Moving, Transfer, Storage FIREPROOF STORAGB Store now, pay six months later, free hauling to storage Moving $4 per load and up. PARTLOW JENKINS MOTOR CAR CO RI-7750. 41$ E Market St. MOVE YOU—Take your discarded furniture: personal service; free estimates. HE-5038. MOVING $1 UP—Local overland equip. covrd. trucks: white men. Pete's. CH-2878. DAVIS TRUCKING & BTORAGE CO.—Experienced furniture, piano moving: local & overland hauligg, 315 E. Mich, LI-2655. MOVING, $1.50 up: overland service. 25c per mile; large vans; free est._LU94o4. MOVE YOU—Take in your discarded furniture: work guaranteed; free estimates. BE-4832-W. MOVE U for votir discarded furniture: insurance; white men; estimate. RI-7894. STORAGE—LocaI, long distance hauling, return loads wanted. Part loads service. OTTO J. SUESZ, RI-3628. RI-6561. CH--0699-W. Paper Hanging and Painting ONE WEEK ONLY—Paper hung. $l4B room 13x13; with 5c paper furnished, >2.95, MR. LEWIS, DR-1024. 2137 Barth. Radio Repairing RADIO SERVICE—Ca 11s free. ELEC CONSTRUCTION CO.. 1030 College. RI-4966. Taxicab Business RILEY CAB CO.—PASSENGERS INSURED. RI-8686. ANYTIME. Typing TYPING—Of any kind. Call for and dellver. MR. YATES. CH-7550. Weatherstrip FREE ESTIMATE CHAMBERLIN WEATHERSTRIP CO. 11l W 21st Bt, TA-1511. Weaving WEAVING—AII kinds. Have your rags woven into rugs. 3325 Kenwood. Window Shades KEITH SHADE CO —1343 N. Illinois. RI--4995 Dealers Brenlln Shades. Cleaning. ANNOUNCEMENTS 1 Death Notice* WEBER. JOHN Os New Palestine, fa her of Harry Weber of Indianapolis and Benjamin F Weber of Greenfield. Ind., passed awav Thursday morning, age 88 years. Funeral Saturday. 2 p. m., at THE MAX HERRLICH & SON FUNERAL HOME. Interment New Palestine cemetery. ______ WIMJS. I.UCIOUB COMECYS Beloved husband of Loucinda A Willis, and father of Mary Ellen Willis, passed away Thursdav. Funeral at the residence. 4430 N. Meridian St.. Saturday, 2 p m. Friends Invited. Burial Crown Hill. Friends mar call at the residence af’er spm Friday SHIR LEY SERVICE 2 Cards, In Memoriams DANNER—We wish to extend our heartfelt thanks and appreciation for the acts of kindness, messages of sympathty and beautiful floral offerings received from our many friends and relatives in Indianapolis and in other cities, during the illness and our sad bereavemer.’ in ’he death of our beloved wife, mother and grandmother, MILDRED G DANNER. We also wish to thank the Rev. A. L. Kendell. the singers Mrs. Clvde Bowers and Mrs Leon Lockwood the florist. Robert P Kiefer, and the funerai directors Rovster & Askin, MR ERNEST F DANNER MR AND MRS L. P. MORGAN AND SON. PAUL ALLEN 3 Funeral Directors, Florist* ~~w7t. blasengym ’ 2226-28 Shelby (V FINN BROS. Funeral Home m W Meridian St TA-18M-

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