Indianapolis Times, Volume 45, Number 171, Indianapolis, Marion County, 27 November 1933 — Page 13

NOV. 27, 1933

Wall Street Fight Between Bankers and Administration Over Money Policy Reaches Serious Proportions. ~ By RALPH HENDERSHOT Tim** Special Financial Writer

Any one who has been following developments carefully realizes by this time that one of the most severe fights In history has begun over the country's monetary policy. The leading bankers of the United State* have lined up in opposition to President Roosevelt and his monetary advisers, and, while several skirmishes already have taken place, it is reasonable to assume that the real important engagements are yet to be seen. Stripped to its barest essentials, the fight revolves around the question of whether creditors or debtors are going to be favored in meeting the cost of business recovery. President Roosevelt has taken the stand,

in effect, that creditors, which include primarily those of greatest wealth, should stand the greater part of it. The bankers and others, who would be the hardest hit, want all depts paid so far as possible. They apparently also desire the government indirectly to make good on some of the debts and pass the cost along to everybody in the form of taxes. The President is attempting to deflate the buying power of the dollar. But apparently the only way that can be done at a time like the present is to reduce its gold content. This reduction is, in effect, an indirect tax, nan Fight Not Surprising It is not surprising that most of those with large amounts of wealth should fight the President’s action. This wealth and thp returns from it when prices were at their lowest would buy twice as much in the way of commodities as it did in 1926. It will still buy one and one-half times as much as it did

■■ SSMnjfc 4 ' t ■ * ■ 2-lk

Ralph Hendershot

in 1926, despite the fact that the government’s monetary policy against which they are making the fight has reduced the good value of the dollar to around sixty cents. Os course, there is no special reason why 1926 prices, which were 1 admittedly high, should be re-established, except that a large percentage of the debts which are now outstanding were contracted when prices i were in the 1926 area. The idea of the scheme is to balance debts with ability to pay as nearly as possible. We had reached a point where the debts of the people could not be paid, and the attempts to collect them had wrought havoc with the entire economic structure. People who had nothing to do with contracting the debts were being thrown out of work, and they, in turn, were being rendered unable to meet their obligations, even when such obligations were reasonable and conservative when assumed People were not only obliged to go hungry, but they were losing the results of their savings, which had been accumulated over many years of real, honest, hard work. a a a Step Believed Necessary Few people would take the stand that it is right for the government to show any partiality between people, no matter what their financial position might be, if it were possible to avoid it'. But there are those who feel that an emergency exists at this time—that the entire economic and social fabric of the nation is threatened—and that some means must be devised by which those who have must be forced to give to those who have not. Many disagree honestly over the method by which this can be accomplished, w'hile some disagree on the basis of the principle itself.

New York Stocks (Bv Abbott. Hoppln & Cos.)

—Nov. 27 l Oils— Prev. ! High. Low. 10 30. close, i Au f Rf d g a ::::::: so% 30% 36% 3<j% | Burnsdßll • ~ Consol Oil " J* 2 Con*- of Del • - • i® Houston ioldi. •• • „„ Mid COnt Pet ... 14 13*4 }3 * {'],' 4 Ohio Oil }’. 4 }?, 2 Pet Corp “ 4 “ 3 4 PhfiUps'VeV 16% 16% 16% 16’* Pure Oil 11*. 11 “ 8 Sbd Oil 32 ■’? Simms Pet ■■ • u Soc Vac 15% 15*. 15 4 15 s: SO of Cal 42'* 42 42'* 4. , S O of N J ”, ! Texas Corp 2t> rx,‘ i Tidewater Assn f|j t 2 Un Oil of Cal 20 2 Am‘Ron"Mills 18'a 18% 18% 1J 5 * Beth Steel . 34% 34 34 a 34 Bvers AM . . 2534 23 8 Col Fuel & Iron .. Cruc Steel -- • •.. 43 " 7, 2 Ludlum Steel .13 12 2 13 * 3 Natl Steel ” I McKeesport Tin. .. Rep Iron & Steel 6 ... 15 l U S Smelt .. .. 93% 92'a 93 93 Vanadium 21'4 21 21 21 Mid Steel • if,, V S Pipe .V Fdv 19 1 -* 18*2 J 9 8 1| 4 U S steel 45’* 45'* 45 8 45 U S Steel pfd “I .2 1 Youngstn S& T 22’4 21% 21% 21'a Rails— , al/ 4 qi; Atchison ■ 24'* it .. O 24% 24'2 24% *% 4 Can Pac 13' 13 13 13 Ch A- Ohio . ... 40U 4040 40 * C M A- St P pfd ... • 5, 2 Chi N W . .. ® 3 4 ; Chi R ISI • 34 C R I 7% pfd.. 5 4% a••• Dela Jk Hud ••• ??, Erie {2, 2 Ort Northern o 111 Central 28% 28'* 28'* 28 2 K C Sou ••• .., Lou A- Nash - 44 8 44 s Mo Pac ••• 7j 4 Mo Pac pfd ’ 4 N Y Cent 3 ® 4 -’714 N Y New Haven .. ••• 11 *‘, 3 N Y Ont & Wes $ 2 Norfolk A- Des ■■ 3 Nor Pac •• xS," 27'T Penn HR 2 ‘ '2 2,’. 2D* 2,* SOU PaC ■ * ‘ nn, MS Sou R R , 22 , 2 .ft 8 Union Pac 110 a m Motors— , 4 , Auburn ••2, -.A, ,c-‘ Chrysler 49 8 48% 49 * 48 s Oen Motors 33 32- 32 * 3 5, 4 . Graham Mot, . ... •• 22 . f, 2 ! Hudson 11% 11 4 11 2 11 4 j Marie Truck 36 35% 35% 35f j Nash 23% 23% 23% 23% Packard 4% 4 s 4 * 4 | Reo . 2 4 j Studebaker ...... ••• “ Yellow Truck 4 % Motor Access— ‘ Bendlx ... . 14 4 14a Bohn Alum, f / 4 Borg Warner ... ... tjj 2 zir Wheel . . • • 3 1 2 Eaton Mfg 11% .... Elec Auto Lite ... ... 16% 16_* Murray Body .. ... 5% 5% Stew Warner . .. . 0% ; Timken Rol 19% Alining Alaska Jun 21* Am Smell 43'* 42% 42% 43 Anaconda 15 14% 14% 15'* Cal A- Hecla 4% 4% 4% Cerro De Pasco.. 32% 32% 32% 32% Granby . . 9 Gt Nor Ore ... 10% Ins Copper . . 5 % Int Nickel . , .. 21% 21% 21% 22 I Isl Creek Coal . .. . . 27 | Kennecott Cop 20% 20% 20% 20% i Phelps Dodge . . . 16% 16% ; Am Tobac B ... 75% 75 Gen Cigar ... ... 28% : Lige A- Myers B 86'* 86' j j Lorrillard ... 17% 17% Reynolds Tob B. 47% 46% 47% 47 Equipments— Allis Chalmers .... ... 19 19% Am Car A Fdy. .. ... ... 23 Am Mach A Fdv . . ... .. 14 Am Steel Fdv 19% 19% Bald Loco 11% 11% Burroughs . ... 16% Case J I .72 71% 71% 72% Cater Tract . . . . 23 C-olgat Palm Peet 12% 12'* Foster Wheeler 15% Oen Am Tank C . 29% 29% Oen Elec 21% 21 21% 21 lngs.il Rand . 62% Int Harvester 41 40% 40% 41% Kehinator 11% Nat! Cash Reg. . . . 15% Proc A Gamble. 42% Simmons Bed ... 17% Und Elliot 33% West Air B 27% 27% Westingh Elec . . . 39 39% Utilities— Am A For P r 10% 10% 10 s * 10% Am Power A Lit 7% 7% 7% 7 s * A T A T . . 120% | Am Wat Wks 19% 19% 19% 19% Col Glas A Elec 12% 12% 12% 12% Col G A E pfd 54 Com A Sou . . 2 2% Consol Gas . . 39% 39% 39% 39% Elec Pw A Lit 5 5% * E P A L pfd 10% 10% j Int T & T 14 13% Lou GAEA' 17% 17% Nat Pwr A Lit. . . ... 11% 11 North Amer .... 16% .16% 16% 16% Pac G A E 17% 17% Pub Serv N J 36% 36% So Cal Edison 16% 16% Std Gas 10 10% Std Gas pfd 10% United Corp .6 5% 6 6 Un Gas Imp 16% 16% Ut Pwr A Lit A ... 33% Western Union 56’, ! Rubbers — Firestone ... 21% Goodrich .... ... 14% 14% Goodtear 37% 37% U S Rubber 17% 18 Amusements — rosiey Radio .... ... . . 9% ews Inc .. .. 29% Radio Corp .... 7 6’* 6% % RKO 2% Warner Bros ... 6% 6% Foods— Am Sugar . 55% i Armour A 3% 3% Borden Prod 21 20% 21 21 Cal Packing . . .. ... 21% 21% Can Dry O Ait 26% Coca Cola .. 97% Cent Bak A ... . . 8% Corn Prod ... 69% 69% Oen Foods 35% 35% 35 s * 35% Gold Dust 18% 18% G w Sugar 37 36% i Hershey 50% Loose wiles 42 j Natl Biscuit 48% Natl D Prod.... 14% 14% 14% 14% PurlW Bak ...* „ >.. *.* 14 1

S Porto Rico Sug .. ... ... 35% Std Brands 23% 23% 23% 23% United Fruit ... ... 64'% Ward Bak A 3 Wrigley ... 56 Retail Stores— Asso Dry Goods 12% Gimbel Bros . .. ... 4% Gr Ull Tea ... ... 4% Hahn Dept Sts ... ... 5% Jewel Tea ... ... 34 Kresge S S 13 Kroger Groc . 24% 24% May Dent St . .. . 27% Mont Ward 22% 22% 22% 22% Penny J C 52% 52% Safeway St . . 44 Sears Roebuck 43Vi 43 43% 43% Woolworth .. 40'* 4040% 40% Aviation— Aviation Corp . 7% 7% 7% 7% Curtiss Wright. .. 2% 2% Curtis Wright A 5% 5% Nor Am Av ... ... 5% United Aircraft , 33% 32% 32%, 33 Chemicals— Air Reduction .103% 103'* 103% 104 Allied Chem 142 142% 141% 141% Am C moAlcohol .. ... 46% 46*4 Col Carbon . . . 61 62 Com Solvents ... 30% 30 30% 92% Du Pont . . . 88% 88% 88% 88% Freeport Tex ... ... 48% Liquid Carb ... ... 25 Math Alkali 43% 44% Tex Gulf Sulph 43% 43 43 43's Union Carbide 47 46% 46% 47% U S Ind Alcohol 59 58% Drugs— Cotv Inc .. . 4' * 4% Lambert 30% 30 30 Zonlte Prod ... 7% 7% Financial— Adams Exp 8% 8% 8% 8% Allegheny Corp.. .. .. ... 3% Chesa Corp ... 34% 35 Transamerica ... 6% Tr Conti Corp.. ... ... 4% Building— Am Radiator . . 13% 13% 13% 13% Gen Asphalt 16% Int Cement 30 30% Johns Manville 57% 56% 56% 57% Libbv Owens Gls .. ... 32 32% Otis Elev 14 13% Ulen C0n5t...... .. . . ... 2% Miscellaneous— Am Bank Note .. ... 13% 13 Am Can 98% 98% 98% 99 Anchor Cap ... ... 20% Conti Can 72% 71% 72% 71 % Eastman Kodak.. .. ... ... 7914 Owens Bottle ... 79% 79 Gillette 11% 11% 11% 11% Glidden ... ... 19% Gotham Silk ... ... 8 Indus Ravon ... 7g% 7gi'. Inter Rapid Tr 10% New York Bank Stocks By Abbott. Hoppin & Cos.) —Nov. 25 _ . Bid. Ask. ! ank „ e , rs ~ 49,4 50 Brooklyn Trust 80 84 Central Hanover no 112 Chase National 19% 20% Chemical 29% 30% City National 214* 22'* Corn Exchange 453 4 gi“ Continental n% 11% Empire 16 16% First National 1,040 1,060 Guaranty 242 246 Irving 15 151 , Manhatten * Cos 23% 24 Manufacturers 151“ 151/ New York Trust 791, o'i Public 22% 23%

Federal Farm Loan Bonds

ißy Blythe & Cos. Inc.) ■— ov. 2 5 4s Nov. 1 1957-37 78% 80% 4s May 1 1958-38 gn% 4%s July 1 1956-36 791. 013. 4 4%s Jan. 1 1957-37 79% 81% 4% s May 1 1957-37 79% 81% 4%s Nov. 1 1958-38 791, si/. 4%s Dec. 1 1933-32 99% 100% 4%s May 1 1942-32 85 86% 4%s Jan. 1 1943-33 82% 84% 4%s Jan 1 1956-33 82% 84% 4%s July 1 1953-33 82% 84% 4%s Jan 1 1955-35 82% 84% 4%s July 1 1955-35 82% 84% 4%s Jan. 1 1956-36 82% 84% 4\s July 1 1953-33 85 86% 4-\s Jan. 1 1954-34 85 86% 4%s July 1 1934-34 85 86% 5s Mav 1 1941-31 92% 941* 5s Nov. 1 1941-31 92% 94% Home Loan 4s. July 1. 1951... 83 84

U. S. Government Bonds

By Vnited Press NEW YORK. Nov. 25.—Closing Liberty Bonds; /Decimals represent 32nds.>. —Liberty—--3%s (32-471 100.8 First 4%s (32-471 100 24 Fourth 4%s 533-381 10115 Fourth 4%s 133-381 Called 101.15 —Treasury— 4%s (47-521 105 30 4%s /43-451 99 22 4s (44-541 102.26 3%s 146-56) 101 3%s (43-47i 994 3%s (41-43 ‘ March 99.12 3%s (40-43) June 99 16 3%s (41 ( 999 3%s (46-49) 974 3s 51-55) 95 28

Retail Coal Prices

The foliowine prices represent quotations from leading Indiar.apoiis coal dealers. A cash discount cf 25 cents per ton is allowed. DOMESTIC RETAIL TRICES Anthracite sl4 25 Coke, nut size 8 75 Coke, egg size 8 75 Indiana, forked lump 5 50® 5 75 Indiana, epg 5 25*i 550 Indiana mine run 5.00'i .^25 Kentucky lump 7 oO Pocahontas lump g 25 Pocahontas egg . g 25 Pocahontas forked lump 925 Pocahontas mine run 725 New River smokeless g 25 West Virginia jump 6 75 West Virginia egg 6.59 Island Creek 7 00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bMF

STOCK MARKET IRREGULAR IN SMALL RANGE Mining Issues Advance as U. S. Dollar Displays Firm Tone.

Average Stock Prices

! Average of thirty Industrials for Saturday; High 100.11. low 98 84, iast 99.28, off .24: average or twenty rails, 39.86, !39 41. 39 53, off .01; average of twenty utilities. 24 73, 24 10, 24 60, up .51: average of forty bonds, 79 90. up 42. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Nov. 27. Stocks opened steady to firm today with mining issues rallying from their decline of last week. Trading was fairly active. The American dollar firmed up in relation to foreign currencies, and the Reconstruction Finance Corporation retained its price of 1 $33.76 per ounce for gold. Steel stocks were in demand on improvement in the industry. United States and Bethlehem each rose point to 45 a and 347* respectively. Rails were steady to firm as were “wet” stocks. Electrical equipments were richer, mercantile shares steady, and utilities firm. A few issues, including Kennecott, American Can, Texas Corporation, Union Carbide, Chrysler and Case eased moderately. During the early trading prices moved in a narrow range around opening levels in quieter trading. Mining and smelting issues held firm with United States Smelting up %at 93 and Mclntyre porcupine up 1 2 at 39. Chrysler recovered its initial loss and crossed 49. Case, on the other hand, extended its early loss. Steel common was firm. Commodity markets were mixed with cotton off six to eight points, and sugar unchanged to off three points. Bonds were irregular with United States government loans held steady.

Bank Clearings

INDIANAPOLIS STATEMENT —Nov. 27Clearings $1,383,000.00 Debits 3,325.000.00 TREASURY STATEMENT —Nov. 27Net balance for Nov. 24. .$1,168,072,374.78 Misc. int. rev. repts 2,618,163.49 Customs repts. mo. to date 22,556,590.84 New York Curb (By Abbott, Hoppin & Cos.) —Nov. 25 .... ~ „ Close, Close Allied Mills ... 8% Hiram Walker.. 35% Alum Cos of Am 79% Hud Bay Min.. 9% Am Cyanide B. Ilia Humble Oil . . 91% Am & For P W 7 Imperial Oil L 14% Am Gas & 01. . 20% Int Petrol ... . 20% Am Superpower 2% Lake Short Min 46% Ass Gas & El.. 5 a Lone Star Gas.. 6 Brazil Tr & Lt 11% Natl Bellas Hess 2% British Celanese 3% Newmont Min.. 53 Can Indus Ale 13% Nia Hud Pwr... 6% Cities Serv 2 Novadel Agene. 48% Consol G of B 47 iPan Am Airways 50 Cord Corp 7% Park Davis ... 23 Creole Petrol... 10% Penn Road 2% Crown Cork Int 6% St Regis Paper.. 3 Deere &Cos 32 I Sal Creek Prod 6 Distillers Lim. 20% Sherwin Wms. . 43% Distillers Corp. 18% Std of Ind 32% El Bond & Sh.. 14% Std of Ky 15% Fisk Rubber ... 7%;Tech Hughes G 5% Ford of Can A 13% Un P & Lt "A” 2% Glen Alden C. 13%;Wright Harg M 7% Gulf Oil of Pa 56Va

Foreign Exchange

(By Abbott. Hoppin & Cos.) —Nov. 25Close. Sterling. England $5.20% Franc, France 0618% Lira. Italv 0834 Belgias. Belgium . 2207 Mark. Germany 3776 Guilder. Holland .6385 Peseta, Spain 1291 Krone, Norway 2620 Krone. Denmark 2330

In the Cotton Markets

—Nov. 25 CHICAGO. High. Low. Close. January 10.05 10 00 10.00 March 10.23 10.17 10.18 May 10.35 10 31 10.31 July 10.49 10.44 10.44 October 10.65 December 9.95 NEW YORK January 9.98 9.92 9 95 March 10.14 10.06 10.09 May 10.29 10 21 10.24 July 10.41 10.34 10.34 October 10 62 10.52 10.55 December 9.91 9.83 9.89 NEW ORLEANS January 9.92 9.88 9.88 March ' 10.10 10.03 10.04 I May 10.24 10.18 10.19 I July 10.36 10.33 10.34 October 10.54 10.48 10.50 December 8.87 9.80 9.82 CHICAGO FRUIT MARKET i Bu I'nitrfi Pres* | CHICAGO. Nov. 27—Apples—Michigan Jonathans. $1,155/ 1.50: Spies. $1,255/ 1.50. Carrots—lllinois. 2<ff2%c bunch. Spinach j—lllinois. 40fi75c. Beans —Southern Green. ! 51.405iT.75. Mushrooms —Illinois, 15(330c. i Cucumbers —Southern. $25/ S: California I hothouse. $2.25'<T2.50. Totmaoes—Cali--1 fornia, 51.50tf2; Illinois and Ohio hot- | house, 80fd85c. Beets —Illinois. 3%c bunch. Leaf lettuce—lllinois hothouse. 20c box. Celery—Michigan, 50c 51.25. Cabbage—j Wisconsin. $1.755x2. Onion market —Washi ir.gton Valencias. 755i90c: Wisconsin yelI lows, 654/80c: Indiana yellows. 65ff?80c; Illinois yellows, 654/.80c; midwestern whites, $1.25. Births Boys Harry and Della Hulen, 929 North { Ewing. Thomas and Beatrice Marcum. 232 : Beauty. William and Mary Hopkins, 2535 Caroline. Noah and Lucille Osburns. 435 West Abbott William and Aileen Garrett. 1809 North Arsenal. Dock and Alice Britton. 2346 North Arsenal. George and Ellena Rvnard. 3736 Northwestern. I Roy and Dcllie Bucy. 2626 Wade. Wilbur and Ida Rusie, 2181 Eastern. Chester and Genevieve Brown. Coleman hospital. Earl and Kathervn Johnston, Coleman I hospital. Gerald and Phelma Swift, Coleman hospital. Lee and Mildred Rose. St. Vincent's hospital. Delbert and Gladys Bennett. St. Vincent's hospital. Girls Leslie and Agnes Catts. 511 Birch. Ralph and Grace Weddel. 915 Chase. Charles and Opha Hazelon. 903 Coffer Love and Willie Tuggle, 822 South West. John and Cleo Woolridge, 1353 West i Twenty-third. Howard and Ethel Pennington. 2320 East Raymond. Charley and Gertrude Graham, 1127% ; West New York. Otis and Ruby Johnson. 931 North East ! Frank and Nellie Ward. 3109 West Wash- 1 ington. Harold and Catherine Harris. 416 West ; McCartr. , Joseph and Cora Jack. Coleman hospital 1 ; william and Mary Stephens. Coleman , hospital. i Walter and Marjorie King. 3148 Boulej vard place. ! Kenneth and Cleo Perrr. 1270 West j Twenty-sixth. Deaths Edith Williamson. 35. 238 Blake, transverse mvelitis. Persifor Frarer Tail. 69. 3172 North Capitol. coronary thrombosis Lula Hood. 34. 432 South Alabama, gen- j eral peritonitis Frank Bridges. 30. 2522 Cornell, pul- : monarv tuberculosis. Lissetta D. West. 74. 1422 East Vermont, acute cardiac dilatation. Nick Smith. 71, 1636 Bellefontaine. cerebral hemorrhage. Sallie Luella Jones, 49. 446 West Twen-ty-fifth. acute parenchymatous nephritis. Mollie BrilL 70. 1316 Union, carcinoma. George E. Monday. 45. 1748 Linden, -eout* myocf4it-t. /*•

THE INDIANAPOLIS TIMES

Chicago Stocks Bv Abbott. Hcddld & Cos ——-

TOTAL SALES, 26,000 SHARES —Nov. 25High. Low. Close. All-American Mohawk ... ... 5* Asbestos Mfg 3% 3'a 3% Bendlx Aviation 14'a Binks Mfg 2 Borg-W'arner 16% 16*a 16% Butler Bros 4% Cent 111 Pub Serv pfd 19 % Cent <fc So West 1 Chi A North Western 8% .Chicago Corp com ... 2V* Chicago Corp pfd ... 21 A* i Chicago Flexible Shaft... 8% 8 8% Cities Service 2 1% 2 Commonwealth Edison.. 37% 37% 37% | Cord Corp 7% 7% 7% Dexter Cos ... 4% 1 Goldblatt Bros ... 18% Great Lakes Aircraft... 1 % 1 Grigsby Grunow % % % Hall Printing ... 4 Ind Pneu Tool ... 10 Kellogg Switch com .. 2 1% 2 McQuay-Norris . ~ 41% Middle West Utilities.. .. 'a Midland United % Midland United, pfd . . ’a Midland Utilities 6" P L 1% National Leather I> B 1 1% Northwest Bancorporatn 4% 4% 4% Prima Cos 12 Public Service N P 18 Quaker Oats ... 125 Southern Union Gas % Standard Dredg Cos ... i% Swift &Cos 14% 14% 14% Swift International .. . 28% 28 28% United Gas Corp 2% Utility & Ind pfd • ... 2% i Viking Pump pfd 28 26 28 1 Vortex Cup Cos 7 Walgreen Cos com 18% 18 18 Waukesha Motor 25% 25 25 Zenith Radio 1% CRAMER LEAVES CITY; RECITAL POSTPONED Local Musician Summoned by Friend’s Illness. The recital of Bomar Cramer, pianist, scheduled for tomorrow night in Caleb Mills hall under auspices of Mu Phi Epsilon and Sigma Alpha lota, has been postponed until Monday, Dec. 4, because of the artist's unexpected absence from the city, it was announced today. Mr. Cramer was called to Sherman. Tex., where his friend and teacher, Pettis Pites, head of the piano department of the Kidd-Key conservatory, was reported seriously ill. Mr. Pites sponsored Mr. Cramer’s musical career. RETIRED FIREMAN, LONG ILL, IS DEAD Patrick E. Ryan, 77, Served Thirty-Six Years. Patrick E. Ryan, 77, retired fireman of No. 13 fire station, died this morning at his home, 205 North Randolph street, after a long illness. Mr. Ryan retired from the fire department on May 18, 1927, after thirty-six years service. He is survived by the widow, Mrs. Julia Ryan. Funeral will be held, at 8:30 Wednesday morning at the home and at 9 at Holy Cross church. Burial will be in Holy Cross cemetery. RADICALS ARE GIVEN FRENCH CABINET JOBS Premier Camille Chautemps Forms New Government. By United Press PARIS, Nov. 27.—Premier Camille Chautemps announced early today that he had succeeded in forming a government dominated by his Radi-cal-Socialist party. Chautemps unexpectedly announced that his cabinet will be exclusively radical. However, he said he intends to appeal for the close collaboration of all groups. Chautemps will be minister of the interior. Joseph Paul-Boncour will serve as minister of foreign affairs, and former Premier Edouard Daladier will be war minister. Georges Bonnet will continue a finance minister, Chautemps announced.

On Commission Row

—Nov. 27Fruits Cranberries—Cape Cod early blacks. 25lb. box. $2@>2.15. Grapes California emperors, crate, $1.65. Melons—California Honeydews 69-12s), $2.50; (13-15S), $1.75. Pears—Washington D’Anjou (90- 1655), $2.75: Washington Bose (100-1355). $2.75; Avacos, Fla. (10-16s), crate, $2. Bananas—Per pound, 5%c. Apples—Wealthy. Wolf River. Grimes Golden. Jonathan, Florida, [email protected] a bushel; fancy Jonathans. $2 a box. Grapefruit—s3(o 4. Prunes—ldaho Italian. 16-lb. lugs, sl.lO. Oranges—California Valencias, $3.50@4 a box. Lemons—(36os). [email protected]. Vegetables Cabbage—Eastern Danish, 50-lb. bag, $1.35. Onions —Utah Spanish. 50-lb. bag. $1.25: western white, 50-lb. bag, $1.40; Indiana white, 50-lb. bag. $1.25; Indiana, yellow, 50-lb. bag. 85c; 10-lb. bag, 18c. Beans—Round stringless, hamper, $1.75 @2; flat stringless. $1.25. Beets—Bulk per bushel. 85; California, 85c per dozen. Peas—loo-lb.. $4. Carrots—-California, $3 crate. Cauliflower—California (11-12s). crate $1.50. Celery—Michigan Mammoth, bunch, 65c; medium bunch, 45c; hearts. $1; 15-bunch flat crate, $1; California. $3 crate. Cucumbers—Florida, $3.50 bushel; hothouse. $1.15 per dozen. Lettuce—lceberg best (4-ss) crate, $4.50; hothouse. 15-lb. casket, $1; Michigan endive, $1.50 per bushel. Radishes—Hothouse button. 40c dozen. Spinach—Broadleaf, per bushel, 75c. Turnips—Per bushel, 75c. Tomatoes—Hothouse. $1 8-lb. basket. Potatoes—Northern Round Whites. 100-Ib, Ib, bag. $1.5001.65; R. R. Ohios. 100-lb. bag. [email protected]: 15-lb. bag. 33c; Wyoming triumphs. 100-!b. bag. $2.10. Sweet Potatoes—lndiana Jerseys, No. 1 bushel. $1.60. Nancy Halls, per bushel $1.25.

Produce Markets

Delivered in Indianapolis prices—Hens, 9c: Leghorn hens, 6c; heavy breed springers, 8c; Leghorn springers. sc; cocks. 5 lbs. and up, 6c; under 5 lbs., 4c; ducks, 4% lbs. and over, full feathered and fat. 6c; under 4% lbs., 4c: geese, full feathered and fat, sc. Turkevs—No. 1 young hens, 8 lbs. and over. 11c; young toms, 12 to 20 lbs.. 11c; No. 1 young toms over 20 lbs., 9c: old toms. 7c; No. 2 thin crooked ; breasted, sc: No. 1 strictly fresh country 1 run eggs, 24c: strictly rots off; each full ; egg case must weigh 55 lbs. gross; a de--1 ducticn of 10c a pound for each pound ] under 55 lbs. will be made. Butter—No. 1, 25026 c: No. 2. 22023 c. Butter—No. 1. 25®26c; No. 2. 22023 c. Butterfat— 18c. ; Quoted by the Wadley Company. BY UNITED PRESS. CHICAGO. Nov. 27.—Eggs—Market, steady; receipts. 693- extra firsts. 24c: fresh graded first. 22c; dirties, 11013 c; checks. 100 11c; current receipts. 170 19c Butter—Market, steady; receipts. 13.278: I specials. 22% 0 23%e: extras, 22%c; extra .firsts. 20%021c: firsts, 17%020c: seconds, i 16%017c; standards, 21**c; centralized. 19 0 20c; centralized. 8® 17c. Poultry— Market, strong; receipts. 37 trucks 2 cars: heavy hens. 10%c; Leghorns. 7c; Plymouth Rocks (light). 10c: white Rocks, 100 11c; ducks, heavy. 9® 10c: ducks, light, 7c: geese. 9c: turkevs. young toms and hens. 15016 c: turkeys, old No 2 grades. 10012 c: roosters, 6%c. Cheese— Twins, 11%@12c: Longhorns. 12%®12%c: flats, non; Americas none. Potatoes— Supply liberal; demand and trading moderate, weak on McClures, steadv on others; Wisconsin Round W’hite, $1,250 1:30; combination grade. $1.17%@1.20: Minnesota and North Dakota Red River Ohios, $1.2001.25: Idaho Russets. $1.65%0 1.70. mostly $1.6501.67%: Colorado McClures, $1.60; shipments Saturday, 599; #; arrivals, 1-94: on track, 358.

PORKER PRICES MOVE 10 TO 15 CENTS LOWER Cattle Market Active and Strong: Lambs, Veals Unchanged. Porker prices moved into lower \ levels at the Union Stockyards this ! morning, with most all classes | around 15 cents under Saturday's ; average. Underweights were 10 cents lower. The bulk, 160 to 275 pounds, sold for $3.55 to $3.65. Heavier grades scaling 275 pounds and up were selling at $3.35 to $3.50, while smaller kinds weighing 130 to 160 pounds sold at $3.40 to $3.60. Light grade pigs brought $2.00 to $3.20. Receipts were estimated at 12,000; holdovers, 152. Practically all classes of cattle were active and round 25 cents higher. Bulk steers were salable at $4.75 to $5.75. Few heifers sold at $5 down. Receipts numbered 500. Vealers were unchanged with Friday’s average selling at $6 down. Receipts were 400. Lamb market remained steady at the previous session, with ewe and wether grades selling at $6.50 to $7. Bucks were discounted sl, while throwouts ranged down to $4. Receipts were 700. With yard officials absent to weigh and register livestock at Chicago, early trading was eliminated. All stock, handlers were on a strike. Receipts were estimated at 40,000, including 15,000 direct. Holdovers, 1,000. Cattle receipts numbered 16,000; calves, 2,000. Sheep receipts were 17,000. HOGS Nov. Bulk. Top. Receipts. 21. $3.75® 4.00 $4.00 12,000 22. 3.53® 3.80 3.80 8.000 23. 3.55® 3.80 3.80 5,000 24. 3.75® 3.90 3.90 6,000 25. 3.70© 3.80 3.80 6,000 27. 3.55® 3 65 3.65 12,000 Market, lower. (140-160) Good and choice...s 3.50® 360 —Light Weights—-(l6o-180) Good and choice.... 3.65 (180-200) Good and choice.... 3.65 —Medium Weights—-(2oo-220) Good and choice.... 3.65 (220-250) Good and choice.... 3.60© 3.65 —Heavy Weights—-<2so-390) Good and choice. . . 3.50® 3.55 (290-350) Good and choice. .. 3.40® 3.50 —Packing Sows—(3so down) Good 2.75® 3.00 (350 upl Good 2.60® 2.90 (All weights) Medium 2.35® 2.75 —Slaughter Pigs—-(loo-130) Good and choice.... 2.50® 3.20 CATTLE Receipts, 500; market, higher. (1.050-I,loo* Good and choice $ 4.50® 6.00 Common and medium 2.50® 4.50 (1.100-1,500) Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 (650-750) Good and choice 4.75® 6.25 Common and medium 2.50® 4.75 (750-900) Good and choice 4.25® 6.00 Common and medium 2.00® 4.25 —Cows— Good 2.85® 3.25 Common and medium 2.00® 2.85 Low cutter and medium I.oo© 2.00 _ , —Bulls (yearlings excluded* Good (beef) 2.00® 2.75 Cutter, common and medium.. I.oo© 2.00 VEALERS Receipts. 400; market, steady. Good and choice $5.50® 6.00 Medium 3.00® 5.00 Cull and common I.oo© 3.00 s(2so-500) Good and choice 3.50® 4.50 Common and medium 1.50® 3 50 <SOO-800~,- eder Snd St ° Cker C3ttle - Good and choice 3.50® 4 50 (800-Tsoo*)" and medium 2.00@ 3.50 Good and choice 3.50© 4.50 Common and medium 2.00© 3.50 SHEEP AND LAMBS Receipts, 700; market, steady. !n2 }S s> 5 0Wn) Good & choice.s 6.50® 700 ,5 OWn JI C ° m - and med,. 4.00® 6.50 lau-iio lbs.) Good and choice.. 6.25® 7.00 —Ewes— Good and choice l 75® 2 7s Common and medium I.oo® L 75

Other Livestock BY UNITED PRESS EAST ST. LOUIS. 111., Nov. 27.—Hogs— Receipts 12,500; market, slow; early sales 10 o 15c lower than Saturday on a few $3 7s!,°? n |n °h rfi- 50 " 2 ? 0 lb ' averages, at firZvS, 3 ' 80 '/-. b **1 dm i. lower P‘? s and sows, uneyen. Cattle—Receipts, 4,300; calves JSSfjPt*. LI 00 : market, steers on fairly su PPly; quality below the average; on 4 °, wer on most steers with vealers 25c lower at $5.50. and other full X. steady: no eariy steer rales; ? y f a *i nK w and heifers, $3,504/5.50; at *6; b ?ef cows. $2,254/2.75; low cutters, $ 1-25 01.50; top sausage bulls, steers, 550-1.100 lbs., good and choice, ssi(/6.25; common and medum $2 7505.25; 1.100-1,500 lbs , ch”ce $4.75 0 5.75; good $44(5.50; medium, $3,254/ 1 s heep—Receipts, 1,800; market, no ?amL Sa on S sith5 ith indications about steady; tfi 504,'7 9s- lb „ S ' down ' ° od and choice Sb 5007.25 common and medium, $44? yeaning wethers, 90-110 lbs., good cnoiee. $4,504/ 5.75; ewes. 90-150 lbs ?Sm d m^ nd choice $1.50 0 2.75; all weights', common and medium, sl<g,2. 2 i 7RGH ■ Nov. 27 Hogs—Receipts, hkfw h° ldov ers. 750; active, generally 15c higher, top and bulk, $4.15 on 170-200 lb. ' v ' el 7 Shts: 220-240 lbs.. $404.15; 240-300 lbs., 40 S ' down - including pigs, packing sows, $303.50. Cattle —Receipts, 350; good demand 25c and more higher; one load dry fed yearling steers $5.50: bulk good grass steers quotl b i2., $4 l'o 4 4* 0 A„ common, $2.5003.50; cows mostly $2.5003; bulls, $3. 0 down. Calves 54%00p.50; culls and common. $204 Sheep Receipts, 2.000; steady with Saturdav; top, 57.25; bulk, good and choice. 66-90 lbs. fat lambs 56.7507.25: weight and considered common to medium, 53@5: aged wethers. $3.25 down. CLEVELAND, Nov. 27.—Cattle—Receipts. J steady in dull trade; choice steers. 55./54/6.25; others, 53.250 5.50 according to weights and grades; common to good heifers, $304.75; medium to good cows $2 03. Calves—Receipts. 300; market, 50c higher on extremely light run; all sold early; choice to prime, S6O 6.50; choice to good, $5.500 6: fair to good, $405; common, $203.50. Sheep—Receipts, 3 000' market, 10c higher in active trading; all sold early: choice spring lambs $707.35; good to choice, $607; common and cull, $34/4.50. Hogs—Receipts, 2,200; packers, bidding 10c lower with salesmen asking steady prices: heavies, $3.7503.90; choice and light butchers and choice Yorkers, $3.9004: stags, $2; roughs, $3; pigs. $3.25. LAFAYETTE. Nov. 27.—Hogs—Market, 10015 c lower: 170-225 lbs., 53.4502.50: 23527a lbs . $3,354/ 3.40: 275-325 lbs.. $3 25® 3.30: 140-170 lbs., S3 150 3.40; 100-140 lbsT, $2.5002.90; roughs. $3 down. Top calves’ $5; top lambs, $6. FT. WAYNE. Nov. 27.—Hoes—Market, lower: 160-200 lbs . S3 45: 250-300 lbs.. $3 35; 30-350 lbs.. 53.20: 150-160 lbs.. $3.40: 140150 lbs $3.30; 130-140 lbs., $3.15; 100-130 lbs.. $2.75: roughs. $3: stags, $1.75. Calves, $6. Lambs, $6.50. By Times Special .LOUISVILLE. Nov. 27.—Cattle—Receipts, 500 supply very light; market active; quality considered 25c to mostly 50c higher: most advance on steers and heifers; bulk common to medium steers and heifers. $304; several lots. $4.50; best lightstockers and feeders more active; best cows S2O 2.50: low cutters and cutters. $1 01.,5: sausage bulls quotable, $2.75 down: stockers and feeders more active; best demand for Hereford stock calves, bulk around $4.50: common to medium natives, mostly S2O 3. Calves Receipts. 400; steady; bulk better vealers. $4.500 5: medium and lower grades. $3.50 down. Hogs—- ?£ ce A? ts ' 1 ' 300: stead'’- 180-275 lbs. $3 80: 140-175 lbs.. $3.80; 110i2 a *J bs "* f®-* lbs- down. $2 30: sows. k 52.50: stags. $1.25. Sheep—Receipts. 100: steady: mostly $5.500 6 for medium to good lambs; choice kinds to $6.50: bucks mainly $4.500 5: throwouts. $3,50: fat ewes. $lO2. Receipts Saturday, cattle. 75; calves. 2%; hogs. 458; sheep, 3 shipments Saturday; cattle 37: calves. 269. In the Air Weather conditions at 9 a. m.: South wind. 17 miles an hour; temperature, 30; barometric pressure. 29.96 at sea level; generan conditions, clear; ceiling unlimited; visibility, 6 miles, hazy. Fire Causes SI,OOO Loss Loss estimated at SI,OOO resulted from a fire which damaged an unoccupied two-story frame house at 712-14 East Twenty-second street yesterday. The house was owned by Gregory & Appel Inc.

—Today and Tomorrow— U. S. Monetary Policy Must Be Decided Without Panic: Alarmists Are Attacked. BY WALTER LIPPMANN

THE monetary policy of the United States is not likely to be settled by losing our tempers. In a crisis it is best to be cool, and they last the longest who become very calm, very quiet and very steady when conditions are critical. As for the alarmist, the despairing, the melodramatic or the excited mood, that should be reserved for those affairs which do not involve the security of great bodies of men. And, therefore, it does not seem to me that a riproaring fight about the currency will help us.

So. having pointed out yesterday what I believe tobe the greatest defect in the execution of the gold policy—that it has been launched without adequate recognition of the skeptics and critics—l should like to point out a few things which, it seems to me, the opposition is inclined to overlook. The opposition is leading the country to believe that changing the price of gold or changing the gold content of the dollar, that is to say, depreciating the currency in terms of gold, is a fantastically novel experiment. It really is not. There are just two countries in the whole world which have not raised the price of gold since the war. Those countries are Switzerland and the Netherlands. The latest figures which I happen to have are for Nov. 6. On that day the price of gold in the United States had risen 56 per cent. In Canada it had risen

<57 per cent; in England, 55 per cent; in South Africa, 54 per cent; in Argentine, 67 per cent; in Sweden. 66 per cent; in Norway, 70 per cent; in Australia, 94 per cent; in New Zealand, 90 per cent; in Denmark. 91 per cent; in Japan, 165 per cent. In France, Belgium and Italy, the countries of the so-called gold bloc, the price of gold is, of course, several

hundred per cent above pre-war. I am. therefore, unable to believe that raising the price of gold in America to a price not unlike that which prevails in most other countries is inherently damnable and absurd. It may be that there is no advantage in raising the price of gold, in lowering the gold content of the currency, but all other nations, except two very small ones, have done it. I am not aware of any agitation in any of these countries to reduce the price of gold and return to the prewar gold value of the currency. nan THE opposition is calling upon the President not to inflate the currency and to return to the gold standard. Now, I do not pretend to have a thorough understanding of | the Warren theory, but I under- | stand it enough to know that it is in no sense of the term a theory of paper or fiat or greenback inflation, and also that it is based wholly on a determination to return to a dollar convertible into gold. Every calculation in the Warren doctrine assumes a gold currency; in fact, Professor Warren can more justly be charged with minimizing the effect of deposit currency than with failure to realize the importance of gold. Indeed I believe it to be accurate to say that the only point on which Professor Warren differs from those who wish to stabilize immediately on gold is this: Those who want immediate stabilization do not seem to care whether the price of gold is $25 an ounce or $33; they want stablization at any price. Professor Warren, on the other hand, believes that the price is very important, and, presumably, that the right price lies somewhere between $36 and S4O. His calculations seem to have persuaded him that in relation to our debts, wages and other fixed charges, we need a currency rather nearer the present value of the Australian, Danish and New Zealand currencies than the present value of the English pound. He may be wrong. But in seeking a level appropriate to American conditions he is doing exactly what practically every one else has done who has managed a currency anywhere in the world. So it would seem that the intelligent thing to do is to examine his data and find out whether his judgment as to how the dollar should be valued is or is not reasonable. It may be that Professor Warren overestimates his ability to calculate exactly the value of the dollar. It has been my impression that he does. But the road to stabilization can only be taken by coming to a conclusion as to what is the

Carriers Fail to Receive PWA Loans for Repairs

Billion Dollars Needed for Modern Improvements on Railroads. By Scripps-Howard, newspaper Alliance WASHINGTON, Nov. 27.—American railroads have 228,277 freight cars awaiting heavy repairs. The Class I roads have only 5,522 serviceable locomotives in storage, and 10,735 engines are awaiting repairs. There are rails to be replaced, rights-of-way to improve, bridges and trestles to maintain, shop and roundhouse equipment to bring up to date. The inability of the railroads to keep up their maintenance of ways and structures during the last few years has made shop towns black spots on the unemployment map. These facts have just been reported to Public works Administrator Ickes by Frank C. Wright, whom he recently made director of the transportation loan division of PWA. | And at the same time Director! Wright reported that his plan for! lending more money to railroads for maintenance work was progressing. For more than a year now, experts have claimed that the railroads could spend a billion dollars bringing their maintenance up to date. Provision for making PWA j loans to the carriers was inserted in! NIRA, passed last June. Thus far $135,000,000 has been loaned for this purpose. I t is Director Wright’s job to see that more jobs are provided in the railroad industry by promoting more loans. It was in the pushing of his program that he made his report to the administrator. Excerpts from it follow: ' By loaning money on security to railroads to be used in repairing locomotives and freight cars that have long been out of commission and awaiting repairs, many men j can be moved off of relief rolls and jon to pay rolls immediately, and full time employment can be provided on justified work for many other men who have had only intermittent work for many months. “Many railroad shop towns have been black spots on the unemployment map, for all roads have been forced to cut repair work on motive power and rolling stock to the bone for the last three years. Many

i right American price at which to stabilize. nan 'T'O denounce “inflation” is a very | good thing, but it is not relevant | to this crucial question. Another poiiit of some collateral j interest which is overlooked by the opposition is the social philosophy of the Warren school. Because his theories fall within the general classification of a “managed currency,” it is generally assumed that he is an exponent of a "managed economy.” The contrary is true. Here, for example, is what his colleague, Professor Pearson, had to say a few weeks ago: "Recovery calls for such an extension of government activities as to endanger our type of economic and political system, or else requires a rapid rise in prices so that an economic system based on profits from individual enterprise can function.” It is no secret that the Cornell economists have had very little sympathy for, and are in fact profoundly critical of, most of the NRA, of the A. A. A. of the public works program, of the large debt program, in a word, of the collectivist tendencies of the Columbia branch of the brain trust. And it is evident enough that the present ascendancy of these Cornell economists dates from the demonstration that the NRA and A. A. A„ however valuable they may be as measures of permanent reconstruction, were not able to promote recovery. All these considerations do not prove that the Warren gold policy is sound. I do not know whether it is sound. But they do show that it is entitled to sympathetic exposition and study, and they suggest that before a campaign of denunciation is organized it would be useful to have a campaign of education. I do not see why the President does not do' something to help the people to understand his policy. It would be ever so much better than calling them Tories. (Copyright, 1933, by The Times) NEW YORK COFFEE FUTURES —Nov. 25 SANTOS High. Low. Close. January g 22 March 8 49 8,39 8 40 May 8.62 8.53 8.53 July • 8.66 8.60 8.66 September 8 89 December 8.25 8.20 8.20 RIO January 5.89 March 6 05 May 6.18 July . 6.28 September . . 6 37 December . j, 5 so NEW' YORK RAW SUGAR FUTURES —Nov. 25 _ High. Low. Close. January ... 1.20 March 1 27 1.25 1 27 May 1.33 1.31 1.33 1 July 1.38 1.37 1.38 I September 1.43 1 42 1 43 December 1.16 1.13 1.16

shops have been closed down en-! tirely for long periods, while others have operated on part-time basis. This has been the cause for ! deep concern on the part of rail managers who have given their shop men all the employment possible with the funds at their command. “By deferring repairs that should have been made, the railroads have built up a large backlong of employment. Its size is indicated by the fact that on Jan. 1, 1932, the Class I carriers had only 6,990 locomotives out of service awaiting repairs, while by July 1 of this year the number had increased to 11,203, or more than 22 per cent of all locomotives owned by Class I roads. “Monthly reports of the American Railway Association on the condition of locomotives and freight cars indicate that while current repair requirements are now being met, little has as yet been done to reduce the amount of equipment that has been stored for repair. Between Aug. 1 and Oct. 1 the number of freight cars awaiting heavy repairs was cut only 3,491, from 231,768 to 228,277.’’

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FUTURES SHOW WEAK TONE IN DULL TRADING All Months Drop Fractions to More Than a Point: Sterling Down. BY HARMAN W. NICHOLS I'nitfd P.ess Staff Correspondent CHICAGO. Nov. 27. There was no encouraging week-end news and grains continued to fall at the opening of the Board of Trade today. Sterling was quoted sharply lower. Wheat futures were H to 1% cents lower, corn was % to % cents lower and oats were •% to 1% cents lower. Brokers felt the wheat market looked two-sided. Since the domestic demand for flour had been poor for such a long period the trade looked for a revival of interest soon. The recent break in the market, which carried prices 11 cents from the preceding week's high levels, tends to give weight to the argument, fo* millers are inclined to stock up on severe declines. Commercial demand for corn has been good for some time because buyers desire to build up stocks before the higher processing tax becomes effective. Dec. 1. Chicago Primary Receipts —Nov. 25 —Bushels— Today Last week. Wheat 437,000 804,000 Corn 982 000 441 000 Oats 182.000 605,000 Chicago Futures Range i —Nov. 27 Prev. WHEAT— High. Low. 10 00. close. Dec .81% 80% .81 % .82% May 83 .84% .84% .86 July .85% .83% .84% .85% CORN— Dec 43% .43% .43% .43% May 50% .50 50% .50% July 52% .52 .52% .52% OATS— P/C 31% .31 31% .32% May 35% .34% .35 .36 July 35 .34% .34% .35% RYE— Dec 55 .54 .54% .56 May . .63 .61% .61% .63% July 62% .62% .62% .64 BARLEY—--s?c 38'i .38% July .. .. %6% TOLEDO CASH GRAIN By United Press TOLEDO, Nov. 25—(Grain in elevators, transit billing): Wheat—No. 2 red, 85® 86c. Corn—No. 2 vellow, 49®50c. Oats— No. 2 white, 37%©38%c. Rye—No. 2 white. 37%©38%c; No 2. 71W72c. (Track prices, 28%c rate) Wheat—No. 1 red. 82®82%c: No. 2 red. 81 ©B2c. Corn—No. 2 yellow, 43% ©46c: No. 3 vellow. 42© 45c; No 4 yellow, 40%©42c: No. 5 yellow. 39®40%c Oats—No 2 white. 34%©35%c (Toledo seed close). Clover—December, $7 90: March. $8.15. Alsike—Cash. $8 50; December, $8.70. CHICAGO CASH GRAIN By United Press CHICAGO, Nov. 25.—Wheat—No. 2 red. 82% ©B3 %c (quoted); sample red, 78c (sold); No. 2 hard. 82%©83%c (quoted). Corn—No. 2, mixed, 44©44%c; No. 2. old. 45% ® 46c: No. 3 yellow, old. 42%©44c: No. 3 yellow, old, 45%© 46c; No. 4 yellow, old. 41%®.41%c; No 4 vellow. old. 45%© 46c; No. 3 white. 43%c; No 4 white. 41® 43c. Oafs—No. 2 white. 33®35c; No. 3 white. 32%©33%c: No. 4 white. 31c: sample grade white. 25c. Rye—No sales. Timothv—ss.so© 6. Cloverseed 13.40. Bariev—4o® 68c. Cash • provisions— Lard. $5.05: loose, $4.80; leaf. $4.87, D. S. Btllies, $5.50. INDIANAPOLIS WAGON WHEAT City grain elevators are paving 73 cent* for No. 2 son rea wneat. utner grades on their merits. DOLLAR OPENS STRONG Franc Is Erratic Causing Delay in Gold Rate Fixing. By United Press LONDON, Nov. 27.—Erratic movement of the gold based French franc caused a delay in the fixing of today's gold rate. The American dollar showed strength against the pound. The pound opened at $5.24 up 4 1 2 cents from Saturday’s close. Saturday the pound opened at $5.19 % and closed at $5.20.

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