Indianapolis Times, Volume 45, Number 190, Indianapolis, Marion County, 19 December 1933 — Page 26

PAGE 26

Security and Commodity Exchanges Face Regulation in ' Next Session of Congress. “ 1 BY RALPH HENDERSHOT Times Special Financial Writer

It is becoming more and more apparent every day that the security and commodity exchanges of the country are to come under some sort of government supervision as a result of legislation scheduled to be passed in the coming session of congress. Wall Street realizes this, and is no little concerned. It is not afraid of regulation as such, but it is afraid the exchanges may be regulated out of business. There can be no doubt but that the various exchanges serve a useful

and valuable purpose. And it would be an unfortunate occurrence if the restrictions placed on their operations were so severe that they could not function in the best interests of industry, trade and finance. The fact that experts of both the government and of the exchanges have been working for some time over the problem indicates that such will not be the case, however. Most exchanges have been rather jealous of the privilege of governing themselves. And most of them have done excellent jobs under the circumstances. This is particularly true of the New York Stock Exchange. But even the exchanges realize there are certain practices which should be corrected. Privileges are extended to members which at times have been abused. The question arises as to whether the exchanges can best be governed by their own governing bodies or whether the strong arm of the law should be used to prevent the misuse of the privileges of these insti-

mm i

Ralph Hendershot

tutions. In the opinion of unbiased authorities there is something to be said for both sides. u a a Exchanges Public Utilities In a sense these exchanges are public utilities. They play such an important role in the nation's economic life that many feel they should be under government supervision; that at least their activities should be subject to constant federal review. Moreover, there are some things the government can accomplish easier than can a board of governors who are elctive officers of a club like body and who are accountable to the membership of that body. The other side of the argument, and the one offered most frequently in Wall Street, is that the board of governors of any exchange is in a position to detect irregularities in business practice much more easily than is the government, and that it is so constituted that speedy punishment can be meted out to offenders without the usual government red tape. The point is made, too, that there would be so many loopholes in any laws which might be enacted that the government never would be able to catch up with those who deliberately set out to defraud the public. a o a Public Representative Might Help To the outsider there would seem to be worthy features to both sides of these arguments. And it would appear also that the best results might be obtained if the government were to create a branch in the treasury department to go over the minutes of meetings of the various boards of governors and to represent the public in all matters in which the public might be affected.

New York Stocks By Abbott. Hoppin St Cos.)

Will* UCV. i>7 { IC*. High. Low. 10:30. close. Amerada ... ... 43 Atl Rig 28% 28 1 2 Barnsaall ... 8% 8% Consol Oil 10% 10*e 10% 10% Cont of Del 17 17 Houston inewt ... 3% Houston i old i. .. ... 23 22’. 2 Indian Rfg ... 3 Mid Cont Pet .... 11% Ohio Oil 13’a Pet Corp 9% Phillips Pet 15% Pure Oil 11% 11% 11% 11 ‘a Royal Dutch ... 36% ... Sbd Oil 31*2 31 1 a Shell Un 7% 7*/*’ Skelley Oil 8 3 a ... Soc Vac 15% 15*4 15 % 15% S O Os Cal 39% 39' a S O of Kan 37% S O of N J 44% 44% Texas Corp 25% 25 25‘/a 25% Tidewater Assn. ... 9% Un Oil of Cal 19‘a 19 Steels— Am Roll Mills.. 18% 18% 18*4 18*2 Beth Steel 35% 35 35 34% Byers AM ... 26 26 Col Fuel k Iron . .. 4 Cruc Steel ... ... 20% Inland Steel . . 38% Ludlum Steel .. 14% 13% Natl Steel 47% 46% 47 46% Rep Iron & Steel 16% 16% Rep I & Stl pfd 36% U S Smelt .... 91% 91% 91% 91% Vanadium ... ... 21 % Mid Steel ... 12% U S Pipe & Fdv 17% U S Steel .. . 46% 46% 46% 46% U S Steel pfd . .. 86% Youngstn S & T 22% 22 1 2 Rails— Atchison 54 53% 54 53% Atl Cs* Line 39% B & O 23 22% 22% 23% Can Pac 12% 12% Ch & Ohio 38% Chi & Gt W 3 C M & St P 4% C M & St P 4% C M & St P pfd 7% 7% Chi N W 7% 7% Chi R Isl 3% Chi R I 7 r i pfd 4% Dela & Hud 54 Erie 15% Grt Northern ... 19% 19% 111 Central 30% 29% 30% 30 K C Sou 11 % Lou k Nash 47 48% MK& T 8 Mo Pac ... 3% 3% Mo Pac pfd 4*4 4% N Y Cent 33% 32% 33% 33% N Y Chi k St L 14% NYC&St LPf 17% 17 N Y New Haven 16% 16% N Y Ont k Wes 8% Nor Pac 22% 22 Penn R R 29% 29% Reading Sou Pac 19% 19% Sou R R 24% 24*2 24*2 23% Sou R R pfd.. 28% 28% Union Pac .1 i 2 1 2 ii 2 112*2 112*4 Wabash ... ... 2% West Mary ... ... 9 Motors— Auburn 55% 55* 2 55*4 55 Chrvsler 50*2 50% 50% 50% Gen Motors ... 32% 32% 32% 32*2 Oraham Mot 2% Hudson ... 13 12% Mac It Truck. .! ... 36* t Nash ••• 23V® 23 Packard ... • ■ • 3% Reo 2 ■% Studebaker 4 >'4 4% 4% 4-s Yellow Truck • 4% 4% Motor Access— Bendix 15*4 15*2 15*2 15% Bohn Alum 51 50% 50% 51% Bora Warner ... 19 1?% Briggs 11% 11% 11% 11 Budd Wheel -3 .® Eaton Mfg ... 13% 13% Elec Auto Lite 18% 18% Houd lA* 3*2 3_® Mullins Mfg - 5 Murray Body ... 6% 6% Stew Warner... 6% 6 6% 6*4 Timken Rol ... 29 2 Mining— „ , Alaska Jun 22 21% *2 21% Am Smelt •• ?2% 41*® Anaconda 14 13’® 13® 13% Cal A- Hecla ... ... 4‘ Cerro de Pasco.. 34 33% 34 33% Granbv ■ ■ 8% Gk Nor Ore ... 10% 10% Homestake in... •••, • 310 Howe Sound .33 32% 33 30% Ins Copper ... 3% 3*2 3*2 3% tot Nickel 21% 21*2 21% 216 Isl Creek Coal 26 26 Kennecott Cop 20 19 's Noranda Cop 33% Phelps Dodge 15 14 ® Tobaccos — Am Sum Tob Am Tob IAI 70 69% 69% 69% Am Too i8i.... 71*2 "1 71 .1 tog" & C Mvers 181 83*2 82% 82% 82 Lorriitnrd 16k 16% 16_® 16;® Remolds T tBl 46% 45*4 4a ® 4a* 2 Equipments — Allis Chalmers lj Am Car & Fdy 25 Am Loco r ‘ * Am Mach A Fdy . ■■■ 14 Am Steel Fdv 20% 20% Bald Loco \\\* I s .. 69 68 % 69 68% Colgat T PiLm Pt 9% "9% "9% i 3 Congoleum r* Elec Stor Bat ,■ Foster Wheeler 14% 13% Gen Am Tk Car .. ... 33 32 Gen Elec 18*4 18 s ® 18% 18 ® Gen R R Sig ?1 32 Ingsol Rand ••• 5| * 5i% tot Bus Mach 142 tot Harvester 3a® Kelvinator }O% Natl Cash .Reg 16% Proc & Gamble ... •- ■ 39% Pullman Inc 49 49 2 Simmons Bed I6*s Una Elliot 34% West Air .B- 26*4 26% 26* 2 26% Westmgh Elec . 37 36% 3i 37*2 Utilities — Am k For Pwr .. .•• 8% 8% Am Power & Lit 6*2 6% 6% 6*2 A T A T 110% 110 110% 110% Am Wat Wks 18% Brook Un Gas. ... 64;® Col Gas A- E 1... 11*2 11% H% 11% Col GA- E pfd.. . .■. • ■ SD Com k Sou 1% 1% 1% 1% Consol Gas ... . 3.H 3j% 3.% 3.% Elec Pwr A- Lit 4% 4 ® E P A- L pfd 9 9 tot Tk T *3 - 13‘® Lou G A- E lA* 15 Nat Pwr & Lit 9% 9 North Amer 14% 14*2 Pac G&E I<% 1< Pub Serv N J 34% 34% 34% 34*2 So Cal Edison... 16 15*4 16 Std Gas pfd 9 9 United Corp 4% 4% Un Gas Imp 14 . 15 Ut Pw r A L IAI - • 2* Western Union 54% 53% 54% 54% Rubbrra— Firestone 18S 18S 18H 18't Goodrich 13 12% Goodyear 33-2 a3% U S Rubber... 15% 15*2 0 S Rubber pfd 25% Kel Spring 2% Amusements— Croslev Radio.. •• t< < 8 ... FOX Theft 444444 M ri 4 14

Wall Street

Loews Inc 30% 30% 30% 31 Corp 7 67 * Warner Bros .. at,, 5% Foods— 8 Am Sugar 431. Armour A 4% 4% 41, 4.7^ Beatrice Cream 9% 9% 9% 9% Borden Prod . 20% 20% 20% 20% Canada Dry G A 25% 25% 25% 26 Coca Cola ... ... 94 Corn Prod 74 741, Crrn of Wheat.. .. 27% Gen Foods . . 341/. 343. Gold Dust 17 17 4 G W Sugar 30% 30% Hershey 501,, Int Salt . . . 213- 8 Loose Wiles . .. 43% 42% 42% Natl Biscuit ... . 46% Natl D Prod 12% 12% 12% 12% S Porto Rico Su . . .. 34% Std Brands . 21% 21% 2i% 21% United Fruit ... ..... 60% Retail Stores— Ass Dry Goods 12 Best & Cos 27 27% Gimbel Bros 5 5 Gimbel pfd IBi' 4 Gr Un Tea .. ... 4% Hahn Dept Sts 5% Kresge S S 13 Kroger Groc 23 Macy R H 56% 55% May Dept St 28% Mont Ward 22 21% 22 21% Penny J C 51 Vi 51% 51% 51% Safeway St 43 44 Sears Roebuck 41 % 41% Woolworth 40% 40% Aviation— Aviation Corp.. .• ... 7 * 7 Douglass Air 13% Curtiss Wright A 5% Curtiss Wright 5% Nor Am Av ... 4% United Aircraft 31% 31% Chemicals— Air Reduction 99% 99% Allied Chem 143% Am Com Alcohol 50 % Col Carbon ... ... 59% Com Solvents... 32 31% 32 32 Dupont 89% 89 89% 88% Freeport Tex 43% Liquid Carb ... 27% 27 27% 27% Math Alkali 36% 36 36% 36 Tex Gulf Sulph 40% 4040 39% Union Carbide 44% 44% U S Indus Alco 58 58% Nat Dist (new) 25% 25% 25% 25% Drugs— Coty Inc ... 4 4 Lambert 24% 24% 21% 24% Lehn & Fink 18% Zonite Prod 6% Financial— Adams Exp ... 7% 7% Alleghany Corp .. 3% Chesa Corp ... 33 32% Transamerica 6% 6% Tr Conti Corp.. .. ... ... 4% Build'ng— Am Radiator ... 14 13% 13% 13% Gen Asphalt 15% Int Cement ... 30 29% Johns Manville 58% Libby Owens Gls 34 33% 33% 33% Otis Elev 14 3 * 14% Ulen Const ... ... 2% Miscellaneous— Am Bank Note.. . ... ... 14% Am Can 94% 94% 94% 94% Anchor Cap . 19% 19% 19% 19% Brklvn Man Tr. 32% 31% 31% 30 Conti Can 74% 74% 74% 74% Eastman Kodak. 79 78% 79 79 Owens Bottle ... ... 79% ’ Gillette 8% 8% 8% 8% Glidden 15% Gotham Silk ... ... 7% Indus Ravon 76% 76% Inter Rapid Tr. 12% 11% 12% 10% New York Curb (By Abbott. Hoppin & Cos.) —Dec. 18Close Close Allied Mills... 8 Great Atl &P. 131% Alum Cos of Am 73% Glen Alden C 10% Am Cyanide B 13% Gulf Oil of P 55* 2 Am & For P W 5® Hiram Walker.. 46% Am Gas & El. . 20% Hud Bay Min 8% Am Superpower 1% Humble Oil .100 Ass Gas & El.. % Imperial Oil Ltd 12% Atias Corp . . 10% Int Petrol 19% Axton Fisher T 63 U Lake Shore M 43® British Am TA 29 Libby McN Lib 3 Can Indus A A 17% Lone Star Gas 5% Can Marc 2% Mt Producers.. 4 Carrier Corp.. 6 Natl Bellas Hess 2% , Cities Serv .. 1% Newmont Min. 45% Common Ed 33% Nia Hud Pwr . 5% Con Gas of B 48% Penn Road. . . 2% Cord Corp 5% St Regis Paper 2% Cirole Petrol. 10% Sal Creek Prod 5% Crown Cork Int S% Sherwin Wins. 44% Deere &Cos ... 30 Std of Ind 32% Distil! Lim... 20% Std of Kv .. 14 s * Distillers Corp 21% Stutz Mts 5% Dow Chehi. 71 Technicolor Ind 8% El Bond & Sh 12% Teck Hughes G 5% Fisk Rubber 7% Un Gas 3% Ford of Can A 13%'Un Pwr <fc Lt A 2% Ford cf Europe 5% Wright Harg M 6% Gen Aviation. . 5 1

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Dec. 18— Bid Ask American Bank Stocks Corp . .70 .30 American and General Sec A 3.00 5.00 American and Inv Tr Sh 1 50 2.50 Basic Industry Shares . 3.25 330 British Type Inv Tr Sh 44 .50 Collateral Trustee Shares A 425 4.50 Corporate Trust Shares <old> 2 14 217 : Corporate Trust Shares <newi 2.24 2.27 Cumulative Trust Shares 330 Diversified Trust Shares A... 625 Diversified Trust Shares B . . 687 712 Diversified Trust Shares C. 290 2.96 Diversified Trust Shares D. . 437 4.62 First Insurance Siock Corp . 127 131 First Common Stock Corp 83 98 Fixed Trust Oil Shares A. 8.25 8.50 Fixed Trust Oil Shares B 700 725 Investors Inc 17 25 17 50 Land Bank Bond shares 92 1.03 Low Priced Shares 530 540 Mass Inv Trust Shares 17.25 17.50 Nation Wide Securities .. 304 310 North Amer Trust Shares 1 53> 181 North Amer Trust Shares .55 > 226 230 North Amer Trust Shares .58• 2.35 2.55 Selected American Shares 240 Selected Cumulative Shares 6.50 675 Selected Income Shares 350 362 Std AmericanT rust Shares A 2.76 280 Trust Shares of America 271 275 , Trustee Std Oil A .5 25 550 Trustee Std Oil B 4 90 500 U S Electric Lt Sc Pwr A 10 00 10.50 Universal Trust Shares 2 88 2.92 NEW YORK COFFEE FUTURES —Dec 18— SANTOS High. Low. Close. January 8 68 March 8 83 8 73 8 81 M- 8 94 8 87 8 94 Julv 9 04 8.97 9 03 September 9 41 9 34 9 41 December . . 8 70 8.65 8 65 Rl ° January - ■ • 6.17 March 6.28 6 25 6 25 May 6.42 6 34 6 40 Julv 6 47 , September 6 58 December .... ... 6.07

STOCKS TURN IRREGULAR IN CLOSERANGE Traction, Rail Issues Show Strong Tone; Sales Volume Small.

Average Stock Prices

Average price of thirty industrials for Monday: Hieh 98 42. low 95.77. last 97.20. off .86 Average of twenty rails: 40.51. 39 61 40.15 off 39. Averaee of twenty utlities 23 36. 22.69. 23.01. off 22 Averaee of forty bonds: 82.94. off 09. BY ELMER C. YVALZER United Press Financial Editor NEW YORK, Dec. 19. —Trading was dull on the Stock Exchange at the opening today, with prices irregular in a narrow range. Tractions were strong on further unification talk, and rails made smalt gains. Gold was unchanged at $34.06; bonds were steady; cotton rose 2 to 5 points. Interborough Rapid Transit opened at its high of ll 7/ g, up 1%, and later moved into new high ground. Brooklyn-Manhattan Transit rose 2 points to 32 in active turnover. Aside from the tractions, the utility group was quiet, with prices about steady. Oils Slip Lower Oil shares slipped back fractionally with Standard of New Jersey, Texas Corporation and SoconyVacuum among the losers. Automobile issues were up small amounts on pickup in operations. General Motors opened 2.000 shares at 32%, up 3 4. Wet stocks were down fractionally; coppers gained; mercantile issues were better. Communications were easier with American Telephone at 110, off and Western Union 53 74. Du Pont rose % to 89 in the chemicals; U. S. Steel and Bethelhem were up fractionally at 45 v; and 3514, respectfully. During the early trading volume contiued small. Prices held around the openings. Tractions were bid up to new highs on the movement. Leading industrials were dull. American Telephone rallied, as did U. S. Steel. Investigations Started Atlas Tack, which lost TVs points yesterday and 11% points Saturday, opened at 14%, off %, and later made up its loss in light turnover in contrast with recent activity. Three investigations are under way in the issue to determine if the stock was fraudulently manipulated in its recent rise from 1% to 34-14 and its subsequent crash. They are under direction of the New York Stock Exchange, the New York state attorney general’s office, and the Better Business Bureau.

Bank Clearings

INDIANAPOLIS STATEMENT —Dec. 18.— &LwTi ngs $1,811,000.00 Deblts 4,591.000.00 TREASURY STATEMENT / —Dec. 19— Net balance for Dec. 16. $1,265,446,294.60 Misc. Int. Rev. Rents 1,446 064 57 Customs rets. (mo. to date) 15.267,869 46

Foreign Exchange

ißy Abbott. Hoppin <fc Cos.) —Dec. 18— „ , Close. Sterling, England $5.15 Franc. France 0619 Lira. Italy '.1)330 Lelgios, Belgium 2195 Mark, Germany 3759 Guilder, Holland .6350 Peseta. Spain 1290 "Krone, Norway 2592 Krone, Dentfldrtc .. 2300

U. S. Government Bonds

By United Press NEW YORK. Dec. 18.— (Decimals represent thirty-seconds. 1 Liberty 3%s (32-47) 100.5 First 4%s (32-47( 101.7 Fourth 4 1 1 s (33-38) 101.18 Fourth 4%s (33-38) called 101.1 Treasury 4%s (47-52) 106.14 4%5-3%s (43-45) 99.28 4s. 144-54) 103.5 3%s (46-50) 101.15 3%s 143-47) 99.4 3%s (41-43) March 99.4 3%s (40-43) June 99.7 3%s (41-) 98.24 3%s (46-49) 95.20 3s (51-55) 94.13

Federal Farm Loan Bonds

(Bv B'.yth & Cos.. Inc.) —Dec. 18Bid. Ask. 4s, Nov. 1. 1957-37 79 80% 4s. Mav 1, 1958-38 79 80 V* 4% s. July 1, 1955-36 79% 81 4% s, Jan. 1, 1957-37 79% 81 4‘.<s, May 1. 1957-37 79% 81 4175, Nov. 1, 1958-38 79% 81 4%5. Mav 1. 1942-32 86% 87% 4%5, Jah. 1, 1943-33 86% 87% 4%5. Jan. 1. 1953-33 82% 84 4%5. July 1, 1933-33 82% 84 4%5, Jan. 1. 1955-35 82% 34 4%5, July 1, 1955-35 82% 84 4%5, Jan. 1. 1956-36 82% 84 4iiS. July 1. 1-953-33 86 87% 4%5, Jan. 1. 1934-34 86 87% 4%5. July 1. 1934-34 86 87% ss, May 1. 1941-31 93% 94% ss. No'v. 1. 1941-31 93% 94% Home Loan 4s, July 1, 1951. 83% 85

In the Cotton Market

—Dec. 18— CHICAGO High. Low. Close. January 10.02 9.96 9.97 March 10.22 10.15 10.15 Mav 10.32 10.27 10.27 July 10.47 10.42 10.42 October 10.68 10.59 10.59 December 9.97 NEW YORK January 9.99 9,86 9.86 March 10.17 10.05 10.05 Mav 10.31 10.18 10.18 July 10.44 10 33 10.33 October 10.62 10.48 10.48 December 9.96 9.86 9.86 NEW ORLEANS January 9.92 9.85 9.85 March 10.13 10.03 10.03 Mav 10.27 10.16 10.17 July 10.40 10.31 10.31 October 10.55 10.48 10.48 December 9.92 9.85 9 86

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 5.50 Indiana, egg 5.00 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 825 Pocahontas egg 8.25 Pocahontas forked lump 525 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. CHICAGO FRUIT MARKET By United Prtu* CHICAGO. Dec 18.—Apples—Michigan Jonathans. 51.304i 1.50: Mclntosh. $12501 175 Carrots—lllinois. bushel. Spinach—lllinois. 40<i75c bushel. Beans— Southern green. wax. SI 50 ft 2.75 Mushrooms—lllinois. 20Q30c lb. cartons Cucumbers—Southern. S2'd2 85. hothouse. s2' ; 2 50. Tomatoes—California. $2 25irf2.50; Illinois and Ohio hothouse. Sli2 25. L?af lettuce—lllinois hothouse. 15'dl7‘ 2 c box. Celerv—Michigan. 300i85c. Cabbage—Wisconsin. $2.50 100-lb sacks. Sweet potatoes—lllinois. SI'S 135; Indiana. 51.60. Onion market—Western Valencias. S1&1.10; central western yellows, 51&1.10.

THE INDIANAPOLIS TIMES

Chicago Stocks By Abbott. Hoppin St Cos.) “" Total Sales. 38.000 Shares —Dec. 18 High. Lew. Close. Asbestos Mfg 3% Associated Tel St Tel A 3% Associated T A: T 7*3- 11% Assoc Tele Ctil % Assoc Tel Util pfd 318 Backstay-Welt ... 5% Bastian-Blessing ... 7 Bendix Aviation 15% 15% 15% Sinks Mfg ... IS Borz-Warner 19% 18% 19 Butler Bros 4 3% 3% Canal Construction ... 2% Cent 111 Pub Serv pfd. 15 14 14 Cent 111 Sec. pfd 6 Cent Pub Serv Class A .. ... 1% Cent Pub Util ‘a Cent Pub Util VTC ... % Vs % Cent & S West P L pfd 5% 5 5% Chain Belt 14 Chi & N West 7 s a 7% 74* Chi Corp Com 2% 2 2% Ohi Corp pfd 22 21% 22 Chi Yellow Cab 11% 11% 11*4 Cities Service 1% 1% 1 3 Commonwealth Edison. . 35 33 33‘a Construct Materials, pfd .. ... 1% Cord Corp 5% 5% 5 Crane Cos ... 7% Dexter Cos 4% 4 4 Gardner-Denver Cos ... 16V2 16 16% Great Lakes Aircraft.. 1% 1 IVe Great Lakes Dredge ... 19*4 19 19 Grigsby-Grunow % Hall Priming 3% 3 5 a 3% Hart-Carter pfd ... 5 Hart S & M 10% Houdaille-Hershey A... 11% 11 11% Ind Pneu Tool 13 % 13 13 Katz Drug 21 20Vi 20% Ken-Rad Tube & Lam .*. ... I'a Kentucky Ut J C pfd 10% Keystone Steel ... 9 3 4 Libby-McNeil 32% 2% Lion Oil Refining Cos 5% Lynch Corp 32% 31 31 Marshall Field ... 13% Material Service ... 3 MeQuav-Norris 40% Mickelberrvs Food Prod 3 Middle West Utilities.. .. ... % Middle West Ut 6% p A % % % Midland United ... % Midland Util 7'® A pfd .. ... Va Miller & Hart pfd 7 Muskegon Motor Spec A .. ... 10 Nat Elec Power (A) Ve National Repub Inv ... 1% Noblitt-Sparks Indu Inc 24% 23% 24V* Oshkosh Overall ... 4 Potter Cos 3% Prima C’o 9 7% 7% Process Corp 3 Public Service N P .. 1 15 Public Service 6% pfd.. 43% 43% 43% Public Service 7% pfd.. .. ... 43 Raytreon VTC ... 2% Sears Roebuck ... 40% Standard Dredging Cos % Standard Dredg Cos pfd 2% Swift & Cos 14% 13% 14% Swift International .... ... 27 Twelfth St Store A ... 1% Utah Radio 1% 1% 1% Utility & Ind ... % Utility & Ind pfd 2 1% 1% Viking Pump .. 1% Walgreen Cos Com 17% 17 17% Warchell . ■ • .Vs Ward Montgomery A ... 86 Wisconsin Bankshares.. .. ... 2% Yates Machine % Zenith Radio 3%

On Commission Row

—Dec. 19— Fruits Cranberries—Cape Cod early blacks. 25lb. box, $2.50. Grapes California emperors, crate, [email protected]. Pears Washington D’Ajou 90-1655), $2.50; Washington Bose (100-1355). $2.75; Avacos, Fla. (16-160, crate. $1.75. Strawberries —California. $2 a crate. Bananas—Per pound. 6c. Apples—Wealthy, Waif River. Grimes Golden, Jonathan, Florida. $1.25@2 a bu.; fancy Jonathans. $2 a box. Grapefruit—s3(33.7s. Oranges—California Navels, $4 a box. Lemons —(360 c), $5.50. Vegetables Cabbage—Eastern Danish, 50-lb. bag. $1.65; new Texas, 70-lb. crate. $5. Onions —Indiana white, 50-lb. bag, $1.25; Indiana yellow, 50-lb. bag, $1.25; green, $6.50 a barrel. Beans—Round stringless, hamper. $2. Beets—Bulk per bu., $1.15; Texas, new. $2 a crate. Peas—3o- lb. hampers. $3. Carrots —California. $2.75 a crate; per doz., 60c; Michigan $2.50 per crate, doz., 60c; bulk, per bushel, sl. Cauliflower—California (11-12s). crate $2 25 Celery—Michigan Mammoth, bunch, 85c; bedium bunch, 45c; hearts, $1.15; 15-bunch per crate. $1.15; California. $2.75 crate. Cucumbers Florida. $3.75 bushel; hothouse. 85c per dozen. Lettuce —Iceberg best (4-ss) crate. $3.75; hothouse, 15-lb. basket, 90c. Radishes—Hothouse button, 40c dozen. Spinach—New Texas. $1.15 per bu. Turnips—per bu„ 75c. . ... Tomatoes —Hothouse, $1.25 8-lb. basket. Potatoes —Northern Round white. 100lb. bag. $1.80; R. R. Ohios. 100-lb. bag. $1.85; 15-lb. bag( 93c; Idaho Russets, 100lb. bag, $2.25; Texas Triumphs, new. $2 50-lb. bag. Sweet Potatoes—Nancy Halls, per bu., $1.40.

Produce Markets

Delivered in Indianapolis prices—Hens. 9c; Leghorn hens, oc: neavy 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, 6c. Turkevs—No. 1 young hens, 8 lbs. and over. 10c; young toms. 12 to 20 lbs., 10C; No. 1 young toms over 20 lbs., 8c; old toms. 6c; No. 2 trin crooked breasted, 4c: No. 1 strictly fresh country run eggs, 15c; strictly rots off; each full egg case must weigh 55 lbs. gross: a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1. 20dv 21c; No. 2, 174? 18c. Butter—No. 1, 254?26c; No. 2. 22’@23c. Butterfat—llc. Quoted by the Wadley Company. LEGION GETS $50,000; RETURNS IT TO STATE Illinois Veterans Make SIO.OOO on Convention. By United Press * CHICAGO, Dec. 19.—For the first time in the history of Illinois, money voted by the general assembly was returned to the state when the American Legion handed over $50,000 that had been appropriated for the convention a year ago. Phil Collins, executive vice-presi-dent of the Legion’s convention committee, in sending the check to State Auditor Edward J. Barrett, said: “A year ago, when the Legionnaires of Illinois were seeking to bring their national convention to Chicago, the general assembly was good enough to vote a special appropriation of $50,000 to aid in the promotion of this big national event. “Now that the convention is over and has passed into history, the American Legion of Cook county is happy to repay this underwriting in full.” The Legion made a profit of SIO,OOO on the convention, after repaying this sum to the state. TREES IN NEW ORLEANS CALLED NATION’S BEST California Woman Praises Beauty of Live Oaks. By United Press NEW ORLEANS, Dec. 19.—Louisiana trees in and around New Orleans were designated as the most beautiful in the United States by Mrs. Louis Fleckenstein, Long Beach, Cal., president of the National Tree Protective Association. “The great spreading live oaks of New Orleans are the most beautiful trees I ever have seen anywhere in America,” Mrs. Fleckenstein said while visiting here. HORSES PUT TO WORK Relief Work Commandeers Draft Animals and Wagons. By United Press SOUTH BEND. Ind., Dec. 19. Horses as well as humans are being put to work under the civil works program here. A shortage of trucks to handle the city’s program resulted in a call for draft horses and wagons. POLL TAX IS REQUIRED Necessary to Obtain Drivers’ License Under Vermont Law. By United Press MONTPELIER, Vt., Dec. 19.—T0 facilitate collection of poll taxes, the Vermont legislature has passed a law providing that a driving license can be issued only to those persons who have paid the tax.

SWINE MARKET OFF 20 GENTS AT CjTYYARDS Cattle Prices Stationary; Lamb Sales Strong at $7.25 Down. Moving within a 5-cent range of the year's low registered last January 7, porker prices dropped 20 cents from yesterday’s average at the local stockyards this morning. Extreme weakness was evident in practically all classes. The bulk, 160 to 275 pounds, sold for $3 to $3.15, while heavier grades weighing 275 pounds and upward were available at $2.80 to 52.95. Lighter kinds scaling 130 to 160 pounds were selling at $2.75 to S3. Light lights from 100 to 130 pounds brought $2 to $2.50. Receipts were estimated at 14,000. Holdovers. 208. Better grade steers and best heifers in the cattle market held stationary. All other classes were dull. Tendency was weak to slightly lower than the previous session. Bulk steers were available at $4.60 to $6. Receipts numbered 1,500. Vealers displayed a weak trading range, selling around $1 lower than yesterday's best prices at $5.50 down. Trade was slow and receipts were 700. Lambs moved mostly 25 cents higher, considering wet classes on hand. Initial sales held largely at $6.50 to $7. Few were equivalent to $7.25 for choice dry lambs. Receipts were 600. No early action was evident in hog trading at Chicago, and undertone was weak to 15 cents or more lower than yesterday’s average. Receipts were estimated at 47,000, including 15,000 directs; holdovers, 4,000. Cattle receipts were 7.500; calves, 2,500; market weak. Sheep receipts were 12,000; market steady to strong. _ HOGS Top. Receipts. 13. $3.15®) 3.20 $3 25 12 000 14. 3.20® 3.30 3.35 ITOOO 15. 3.20® 3.30 3.25 12 000 16. 3.10® 3.20 3 25 3 000 18. 3.20® 3.35 3.35 9 000 19 3.00® 3.15 3.15 14.000 Market, lower. (140-160) Good and choice $ 2.90@ 3.00 —Light Weights—-(l6o-180) Goqd and choice.... 3.15 (180-200) Good and choice... 3.15 —Medium Weights—-(2oo-220) Good and choice.... 3.10 (220-250) Good and choice. . 3.05® 3.10 —Heavy Weights—-(2so-290i Good and choice. .. 2.95® 300 1290-350) Good and choice.... 2.85® 2.90 —Packing Sows—(3so down) Good 2 25® 2 50 '350 up) Good 2 15® 2.35 (All weights) Medium 2.00® 2.25 —Slaughter Pigs—-(llo-130) Good and choice ... 2.00® 2.50 CATTLE Receipts, 1,500; market, steady: (1,050-I,HKD-Good and choice $ 5.00® 6 25 Common and medium 3.00@ 5.00 (1,100-1,500) Good and choice 4.50® 6 15 Common and medium 3.25® 4 50 (675-7501 Good and choice 5.00® 6 25 Common and medium 3.00® 5.00 (750-9001 Good and choice 4.25® 6 00 Common and medium 2.50® 4.25 —Cows— Good 2.50® 3.00 Common and medium 1.75® 2.50 Low cutter and medium I.oo® 1.75 —Bulls (yearlings excluded) Good (beef steers) 2.00® 275 Cutter, common and medium.. I.oo® 2.00 VEALERS Receipts, 700; market, lower. , Good and choice $ 5.00® 5 50’ Medium 3.00® 4.50 Cull and commos 1.50® 3.00 —Calves—-(2so-500) Good and choice 3 50 Common and medium 2.00® 3.50 j —Feeder and Stocker Cattle—-(soo-800) Good and choice 3.50® 4 50 Common and medium 2.00® 3.50 (800-1.500) Good and choic 3.50® 4.50 Common and medium 2.00® 3.50 SHEEP AND LAMBS Receipts, 600; market, higher. <? own > Go od & choice.s 6.75® 7.25 lbs -' Good and choice. 6.25® 7.00 I (90 lbs. down) Com. and med. 4.00® 6.25 ] _ , —Ewes— Good and choice 1.75® 2 75 Common and medium I.oo® H 75 (90-110 lbs.) Good and choice 6.00® 7.00 j Other Livestock BY UNITED PRESS EAST ST. LOUIS. 111.. Dec. 19.—Hogs— I Receipts, 12.000: market, slow; 10c to ij( osti^o l , sc^loWer: t - *3.20: bulk. 160-200 I ian',s?, 3 ',\^ 3 £ 0 \, most blds - 53.15 down; ! 140-150 lbs., $2.90®3.10; 100-130 lbs., pigs. 52®2.75: buik sows. $2.15® 2.25; a few smooth light weights higher. CattleReceipts. 3.000; calves. 1.500: market, i steers moderately active and prices strongi? p V c M°c,: lb -, yearlinßS - other steers’. $5.15 a 5.50; bulls, strong to 10c higher; j other classes opened steady; mixed year- i lings and heifers. s4®s: cows. $2.25®2.75; I low. cutters. $1®1.50; top sausage bulls! i A° D , vea * ers ’ 5 5 -00. Slaughter steers—--550-1.100 lbs., good and choice, $5®6.25- I common and medium. $2.75®5.25; 1 100- I LSOO lbs.. choice. $4.50®5.75: good. $3.75 @5-s°: medium. $3.25®5. Sheep—Receipts. 2.000: market, no early action: asking strong: 3 holding better lambs around S( and above: packers talking lower: indications steady on throwouts and sheep. Lambs. 90 lbs. down, good and choice. $6.50(7.25: common and medium. $3.50® 6.(5; yearling wethers. 90-110 lbs., good and cnoice, [email protected]: ewes. 90-150 lbs good and choice. $1.5032.75: all weights common and medium. $132. , FT. WAYNE. Dec. 19.—Hogs—20c lower; 160-200 lbs.. $3.05; 200-250 lbs.. $2.95; 250-300 lbs., $2.85; 300-350 lbs.. $2.70: 150160 lbs.. $2.80: 140-150 lbs.. $2.70; 130140 lbs.. $2.60; 100-130 lbs.. $2.15; roughs $2.25; stags. 51.50. Calves—ss.so. Lambs LAFAYETTE, Dec. 19—Hog market, 20®25c I lower; 170-225 lbs.. $2.90(0 3; 225-275 lbs.. ! $2.80®2.85; 275-325 lbs.. $2.7032.75; 140- ! 170 lbs.. 52.7032.85; 120-140 lbs.. $2,253 ! 2.50: 100-120 lbs.. 51.5031.75; roughs $2.35 down. Top calves* $43 4.50. Top lambs. $6. i PITTSBURGH. Dec. 19.—Hogs—Re- , ceipts, 800: holdovers. 2.100: slow. 10 to j 20c lower; sows, steadv; 170-260 lbs.. $3.40 ®3.50: 260 lbs. up. $3.2533.40; 130-145 lbs.. ’ around $3.15; 130 lbs. down, including pigs. , S3 down; packing sows, mostly $2.75 Cattle—Receipts. 20; nominal: top load best yearling steers, yesterday. $6.10. Calves— Receipts. 25: steady; top vealers. $6. Sheep —Receipts, 600; steady, top fat lambs. | $7.50; medium kinds. 54.50®6: sheep, steady at $3.50 down. CLEVELAND. Dec. 19.—Cattle—Receipts. 250: market slow and dull: prices unchanged from yesterday's close; choice ! steers. $63 6.50: good. 60-100-lb. heifers. 54.253 4.75: good cows all weights. $2.50® 3. Calves—Receipts. 400: market, steadv with 1 ■weaker tmdertone: choice to prime. $63 ; 6.50; choice-to good $53 6. She^n —Re- ! ceipts. 2.000: market, steadv with demand limited; choice wethers. $2.503 3.23: choice spring lambs. $737.50. Hogs—Receipts. 1.600; market, sets all-time low at j 53.30 top. mostlv 20 cents lower for the ; dav; heavies. 53.2533.30: butchers. 159250 lbs.. $3.30; stags. 51: roughs. $2: pigs. ; $2.25. By J imes Special LOUISVILLE. Dec. 19—Cattle—Receipts. 150: mostly steady: bulk sommon to me- j dium steers and heifers. $33 4.25: one lot ' desirable 701-lb. yearlings. $5: best kinds considered salable higher: bulk beef cows, ’ $1.7532 25: low cutters and cutters. sl® 1.50: sausage bulls. $2.75 down; common to medium native Stockers and feeders S mostlv $2.503 3.50: desirable Hereford heif- j er stock calves mostlv $4.50: few choice. $4.75: best steer calves eligible to $3. Calves —Receipts. 100: steadv; bulk better | vealers, $4.503 5: medium and lower’ grades. $3.50 down. Hogs—Receipts. 900; j 15c lower; 180-250 lbs.. $3.35: 255 lbs., up $3.05: 140-175 lbs.. $3: 110-135 lbs.. $2.20: 105 lbs down. $1 55; sows. $2.05: stags. 80c. Sheen—Receipts. 100: steadv: : bulk medium to good lambs, $5.503 6: choice kinds. $6 50: bucks discounted $1; throwouts. $3.50: desirable ewes. $2. NEW YORK SUGAR FUTURES —Dec. 18High. Low. Close. ! January 1.14 1.12 1.13 March : 120 1.18 1.19' May 1.28 1 23 1.25 July 1 30 1.29 1.30 September 1.36 1.34 1.35 December 1-13 Benefit Parties Arranged Shambah Temple No. 139. Dramatic Order of Knights of Khorassan. will, beginning on Wednesday l night, sponsor a series of benefit card parties to be held on the first and third Wednesdays of each month at 8; 15 in Castle Hall. 230 East Ohio streeet. The public is invited to attend. Roscoe L. Ruffin is chairman of the committee which" is planning the entertainments.

—Today and Tomorrow — Many Reforms to Aid Middleman Have Been Advanced Speedily Under Recovery. BY WALTER LIPPMANN

MANY observers, contemplating the enormous extension of government control over American economic life, have come to the conclusion that we are on the road to a planned economy in the Russian style. Looked at superficially, the immense regimentation under the national recovery act and agricultural adjustment administration does have some such appearance. The resemblance is increased by what some of the active workers in these two establishments have said. Nevertheless, I believe that the appearances are misleading, and that there is a difference between Russian collectivism and what is being set

up in Washington, which is so fundamental that to Ignore it is to misunderstand both. The difference is that the Russian planning is a gigantic collective effort to increase production in a country which does not have enough of anything, whereas the American regimentation is a collective effort to curtail production in a country which believes it has tco much of everything. Stalin is concerned with five-year plans to grow larger crops and build more factories and turn out more goods. Secretary Wallace and General Johnson make their plans with the conviction that we must grow smaller crops and discourage the buildiug of new factories and turn out less goods. Russia is attempting to solve the problem of scarcity; America, at the moment, is attempting to solve the problem of a temporary glut. a a tt

IN studying NRA and AAA with a view to forecasting their future, it is important to fix clearly in mind that both have been set up, and both have received the support of American producers, because of the general impression that prices have collapsed owing to an overproduction of goods.

But for this belief we should have them in anything like their present form. The long-term social reforms have been grafted upon this basic conviction among producers that there must be a collective restriction of production. Therefore, important and desirable as they are, they are incidental. The limitation of child labor and of sweating, the encouragement of collective bargaining, the codes of fair practice to reduce commercial corruption, the effort of the AAA to do something about the old problem of the middeman—all of these socially desirable measures have been advenced so quickly by by the slow process of legislation, voluntary agreement, rather than because farmers ana business men believe they have to produce less in order to earn more. Thus the AAA derives its vital force from the fact that it offers to raise farm prices by paying farmers to reduce their crops; the NRA derives its vital force from the fjesire of established industries to “stabilize” themselves. Its method is to encourage co-operation by relaxing the anti-trust laws and the purpose is to keep production down to the effective demand. If you remove from both experiments the idea that production has to be curtailed, you remove from them their major principle. Take out of AAA the subsidies to reduce crops, and little would be left. Take out of NRA the right to combine for what used to be called restraint of trade, the right directly or indirectly to fix prices at the highest net return, rather than by the law of supply and demand, and little would be left of the business man’s enthusiasm for the experiment. Take out of the public mind, or the mind of congress and the administration, the idea that we are overwhelmed by cur productivity, and you would have the greatest difficulty in obtaining assent to the toll of the processing taxes or to the relaxation of the anti-trust laws. a a THUS, while there are many who would in theory like to see a planned economy, that is not why we have all this planning at the moment. We do not have it because of Professor Tugwell’s doctrines, assuming he holds the doctrines imputed to him. We have it because the great majority of the people, seeing the surplus stocks, the empty factories, the idle cars and ships, think there is over-pro-duction and that we can not recover without curing it. To any one who believes, in a mood of hope or of fear (it makes no difference), that AAA and NRA are revolutionary changes in the organization of capitalism, the question may be put, What do you think would happen to them if we recovered? Suppose AAA and NRA brought production into balance with consumption so the prices rose because demand was greater than supply. Or suppose some other thing, the natural forces of recovery, or the monetary policy, brought about a great demand for goods. Under these conditions, how long would farmers let Washington tell them how much they may produce? How long would the people pay taxes to pay farmers to produce less? How long would business men stand for those cedes which limit the entrance of new producers? How long would the people allow combinations in restraint of trade? The moment the recovery comes, and prices rise through scarcity of supply, a revolution in public opinion is bound to take place. The producer, farmer and business man will rebel against restrictions which prevent him from taking advantage of the market. He will attack the established industries, which have a semimonopolistic position under the codes, and he will be joined by the consumer and we shall have what we always had in time cf rising prices, an outcry against the high cost of living, an anti-trust agitation, and an attack on the tariff, a a a THERE will remain the incidental long-term social reforms which it may be possible to consolidate and maintain by educating public opinion and by the pressure of labor organization. But if that is to be done, those who are administering these experiments should realize that or .he glutted markets are fr *neir powers of compulsion ovur producers will vanish. If they have not won their confidence. if they have overreached themselves in the use of their powers, if they are the dupes of the fallacy that "overproduction” is a permanent condition, they will provoke a sentimental reaction which will sweep away not only the restrictions on production, but the social reforms as well.

Daily Price Index

By United Preen NEW YORK. Dec 18—Dun Sc Brad-str-'ets daiiv weighted price index of thirtv basic commodities, compiled tor the United Press: (1930-1932 Average, 100) Todav 98.92 Saturday 98.76 Week ago 101 38 Month ago 101 23 Year ago 72 43 1933 High (July 18) 113.52 1933 Low iJan. 20> 67.86 Copyngnt. 1933. by Dun & Braastreet. Inc.

kb—

I.ippmann

Indianapolis Cash Grain

—Dec. 18— The bids lor car lots of grain at the call of the Indianapolis Board of Trade, f. o. b. shipping point, basis 41% New York rate were: Wheat—Easy; No. 1 red. 78 1 79c; No. 2 red. 773 78c; No. 2 hard. 77®78c;. Corn—Weak; No. 3 white. 38®39c, No. 4 white, 373 38c: No 3 yellow. 373 38c; No. 4 yellow. 36 a 37c: No. 3 mixed. 36®37c; No. 4 mixed. 354; 36c. Oats—Easy; No. 2 white, 31%®32%c; No. 3 white, 30%331%c. Hay—if. o. b. country points taking 23%c or less rates to Cincinnati or Loulsvillei— Steady; No. 1 timothy. $7.50®8: No. 2 timothy, [email protected]. —lnspections Whaet—No. 1 red, 1 car; No. 2 red, 3 cars; No. 1 hard, 3 cars; No. 2 hard, 2 cars: total. 9 cars. Corn—No. 2 white. 1 car; No. 3 white. 1 car; No. 4 white. 2 cars; No. 5 white. 1 car; No. 2 yellow. 2 cars; No. 3 yellow. 18 cars; No. 4 yellow, 22 cars; No. 5 yellow, 4 cars; No. 6 yellow. 2 cars; No. 4 mixed. 2 cars; total, 55 cars. Oats—No. 2 white, 6 cars: No. 3 white, 5 cars; No 4 white, 2 cars: sample white, 1 car; total, 14 cars. TOLEDO CASH GRAIN Bu United Press TOLEDO. Dec. 18.—Grain close. Grain in elevators, transit billing: Wheat—No. 2 red, 87% 3 88%c. Corn—No. 2 yellow. 51%3 52%c. Oats—No. 2 White. 39 340 c. Rye—No. 2. 66%3 67%c. Track prices. 28%c rate: Wheat—No. 1 red. 83%®84c; No. 2 red. 82% 383 c. Corn—No. 2 yellow. 46%348%c: No. 3 yellow, 453 46%c: No. 4 yellow. 43% 3 44%c; No. 5 yellow. 42%3 43%c. Oats —No. 2 white. 36337 c; No. 3 white. 353 36c. Toledo seed close: Clover —Dec., $8: March, $8.25. Alsike—Cash. $8 50. ST. LOUIS CASH GRAIN Bu United Press ST. LOUIS. Dec. 18.—Cash grain: Wheat —ln slow demand, steadv: No. 2 red. new. 86%c: No. 3 red. 86c: No. 4 red. 85c: No. 5 red. 84c; sample red. 74c; No. 2 garlicky. 843 85%c: No. 2 new. 85%c: No. 1 dark hard, 86c; No. 2 mixed. 84c: No. 3 mixed. 84%c. Corn—ln fair demand, unchanged to 1 cent lower; No. 2 yellow, new. 46c: No. 2 yellow, old. 46%c: No. 3 yellow, new. 44 %c: No. 3 yellow, old. 46c: No. 6 yellow, new. 40c; No. 2 white, new. 46c. Oats— In good demand, unchanged: No. 3 white. 35%c: No. 1 mixed. 36c: No. 2 mixed. 36%c: No. 1 red. 37%c: No. 2 red. 36c. TWO ARMY PILOTS DIE IN SMASHUP 35th Division Airmen Are Killed in Night Crash. By United Press HIGH HILL. Mo„ Dec. 19.—Bodies of Captain Milton M. Briney and Lieutenant Graham St. John, both of the Thirty-fifth division air corps, Kansas City, were found early today after the plane which they were flying crashed last night ten miles south of here. Lieutenant St. John was making the flight from Kansas City to St. Louis to fill army requirements of ten hours night flying. Captain Briney accompanied him to further familiairize himself with handling a plane in the darkness. The crash occurred at 8 p. m., according to Wayne Williams, TWA mail pilot, who was flying just ahead of the army ship and saw it dive into the heavy woods. Williams radioed the location to Lambert Field, St. Louis, and continued his eastward flight. Early today a searching party found the plane. It was upside down and both men were dead, hanging head down from their safety belts. In the Air Northeast wind, 9 miles an hour; temperature, 41; barometric pressure, 30.20 at sea level; general conditions, overcast, light rain, moderate fog; ceiling, estimated 2,000 feet; visibility, one-fourth mile.

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_DEC. 19, 1933

UNEVEN SALES FORCE FUTURE PRICESLOWER Traders Await Government Report: Wheat Down Fractions. BY HARMAN YV. NICHOLS l nitrd Press StafT Correspondent CHICAGO. Dec. 19. There was scattered selling at the opening of the Board of Trade today and wheat prices were fractionally lower. A better tone in opening stocks had no effect. Wheat futures fell % to ’•* cent, corn was off % cent and oats ranged from % cent lower to % cent higher. Brokers looked for a quiet market during the holiday lull. Figures on the area of fall sown wheat and condition of the crop to date will be released by the government tomorrow and late today the official crop estimates are due. Few 7 operators will extend market operations until these figures are published. as there is always a possibility of surprise in such releases. Chicago Primary Receipts —Dec. 18— —Bushels— Today Last week Wheat 872 001 384 000 Corn 1.066 000 1.141.000 Oats ... 301.000 205,000 Chicago Futures Range —Dec 18WHEAT— Prey. Open High. Low. Close, close. Dec... .82% .83% .82% 82’* .83% May... .85 .85% .84 .84% .85 July. CC% .84% .82% 83% .83% CORN— Dec... .45% .43% .42% .43% .43% May... 50% 50% .49% 50% .50% July... .52% .52% 5-% 52% .51% OATS— Dec... .34% .34% .33% .33% 34% Mav... .36% .37% .36% .36% .36% July... .34% 35% .34% 34% .35 RYE— Dec .53% 54 53 53 52% Mav... .573* .58% .57% .57% .57% July... .59% .60% .59% .59% .59% BARLEY— Dec... .42% .53 .42% .42% .42 May... .47% .48 .47% 47% 47% July... .. .. .47% .47% LARD (old) Dec 4 30 4 30 Jail.. 4.65 465 460 460 465 May.. 5.05 5.05 4.97 4.97 505 BELLIES (old) Dec 4 50 4.50 Jan 5 00 5.00 May.. 5.62 5.62 5.62 5.62 5.62 BELLIES inew) Dec 5.00 5 12 May .y ... 6 25 6 30 Jan 5.62 5 62 LARD mew) Dec 4 45 4 60 Jan 5 10 5 15 May.. 5.50 5.50 5.40 5.42 5 50 July ... 5 42 5.42 Sept 5.60 5 60 NEW YORK CASH GRAIN Bu Times Special NEW YORK. Dec. 18.—Wheat—No. 2 red. $1.01%: No. 2 hard winter. $1.01%. Corn —No. 2 mixed. 58'*C. Oats—No. 3 white. 45’*c. CHICAGO CASH GRAIN By United Press CHICAGO. Dec. 18.—Cash grain: Whtat, —No. 5 hard, 81%c. Corn (oldi—No, 2 mixed, 47c: No. 1 yellow, 47%c: No. 2 yellow. 47@47%c; No. 3 yellow. 46®46%c; No 5 yellow. 45%c; No. 6 yellow. 44 %c: No. 2 white. 47®47%e; (new) No. 2 mixed. 45®45 3 *c: No. 3 mixed. 44%'<;45%c: No, 4 mixed, 43®44%c; No. 2 yellow. 45%'./ 46%c: No. 3 yellow. 43%(0 46%c; No. 4 yellow, 43%'./ 44%c; No. 5 yellow, 42c; No 2 white, 46%®47c: No. 3 white. 45%®46c; No. 4 whit\ 44%'</44%c; sample grade white, 23® 30c. Oats —No. 2 white. 35%® 35%c: No. 3 white, 34®35%c; No 4 white. 33%®33%C. Rye—No sales. Barley—Sale* 62® 66c: quotable. 4367 70c. Timothy—ss,so4/6. Clover seed—sll4/ 13 85 Cash provisions—Lard. $4.52: loose. $4.32; leaf. $4 37; bellies. $5.50. INDIANAPOLIS WAGON WHEAT City grain elevators are paving 76 cents for No. 2 soft red wheat. Other grades on their merits.

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