Indianapolis Times, Volume 45, Number 192, Indianapolis, Marion County, 21 December 1933 — Page 24

PAGE 24

Wall Street Guaranty Trust Presents Informative Booklet—Tells How Banks Decide Loan Problems. RY RALPH HENDERSHOT Time* Special Financial Writer

• The Guaranty Trust Cos. of Now York has proparod and is distributing gratis a booklet entitled 'A Banks Relations with Its Customers." Stuart H. Patterson, its vice-president, is author of the booklet, which was written largely for promotional purposes. It is one of the most Informative pieces of literature ever offered by any banking institution, •nd it is well worth reading, especially by business men. Heretofore banks have been content to devote their advertising space boa mere recital of their addresses and the length of time they have been

in business. Their relations with the public have been grossly neglected. Consequently, in time-, of stress such as we are going through and have been going through for the last few years their officials are astounded to learn that the public is not thoroughly conversant with their problems. Mr. Patterson makes a few points in his story which seem to be open to discussion, not so much because their accuracy is in question from a practical point of view but because they constitute a rather unusual stand for a banking institution to take. nan Considerations for Loans One of the considerations in granting a loan, he points out, is whether the prospective borrower has been carrying a good deposit account or has brought much business into thp bank. He explains that the reason for this is that “there is and must be a mutual relationship between the bank and its customers.”

v ... 3

Ralph Hendershot

A bank is supposed to be a public institution, and it would seem that a borrower s qualifications as a credit risk would be the only consideration in the granting of loans. The granting of loans even partially in return for bringing in business would appear to weaken rather than strengthen banking practice. The person whose account represented "new business" might, not be particularly happy if he knew it was being used as a consideration for a loan for someone else. ana nan Russian Trade Prospects Those who expected official recognition of Russia by the United States to be followed up bv an avalanche of orders from that eountry for American goods apparently were not well posted on their Russian psychology. The orders have not materialized, and from all indications they may not materialize—unless we place similar orders for Russian goods. The point taken by our officially new neighbors would not seem to be so very far out of line. They must sell to someone if they are to pay for the goods they buy here. And since every country is watching its .trade figures very carefully, there is every reason to believe that they would not care to supply Russia with the wherewithal to buy goods in the United States. There might also be a very special reason why Russia would like to sell us such things as our silk requirements. By such a move she would be promoting anew industry she has been developing and at the same time taking trade away from .Japan, an unofficial enemy. Perhaps Russia's new school system has not been working out so badly, after all.

New .York Stocks :Ey Abbott. Hoppin Sr Cos.) -

—Dec. 21— Prev. High Low 10 30 Close Oils— Amerada . . .. 41 Atl Rfg 28‘/ 4 28% 28 * * 28% Barnsdall . . . 8 Consol Oil 9 s 9% 9 *'4 10 Cont of Del . . 17 1 2 17% 17% 17% Houston ■ new* 3 '-2 Houston i old i . .. 21% Indian Rfg 3 ... M|d Cont Pet.... 11 Ohio Oil .. 13 12% Pet Corn 9*4 Phillips Pet .... 14% 14% 14 7 * 15 Pure Oil 10% 10% Roval Dutch 35 a Sbo Oil . . 29' 2 29' 4 Shell Un "'i 7% Pa 7% Simms Pet ... . 9% Skellev OH 15 14% 15 14% S O of Cal . .. 40 39% S O of N J 44 '2 43i, Sun Oil . 51 >2 Texas Corp 24 ’ 8 24' 2 Tidewater Assn. 9' 4 9% 9% 9 Ur Oil of Cal 18' 2 Steels— Am Roll Mills 17% IT 7 * Beth steel . ... 35 34', 35 34% Byers A M 24% Col Fuel Ar Iron 3% 3 Cruc Steel 19 "4 Inland Steel 38 7 4 Ludlum Steel 14 McKeesport Tin. 84% Natl Steel 44 7 Rep Iron A’ Steel 16 15’8 10 15% Rep Iron-Stl pfd 36 U S Smelt 86'4 80 ‘4 86 1 2 86'4 Vanadium 20’-a Mid Steel 12 U S Pipe & Fdv 1P 4 U S Steel ... 45 '2 45 1 * 45 ‘2 45% U S Steel pfd 86 85 7 s Yungstwn 5 & T 66 85% Rails— Atchison .... . 54 53 '2 54 54% Atl Coast Line 37% 37 37'2 37% B & O 22' 4 22 '4 Can Par . 12 J < 12% Ch & Ohio 38 1 2 38 s C M A St P 4=4 C M & S P pfd. 7‘a 7% CM K W . . . 6% 6% 6% 7 Chi R Ist 33 Dela Az Hud 52'* Erie 14% 14 3 4 Grt Northern .. 19 18% 18 18 3 4 111 Central 29 28-4 Lou Ai Nash 48-4 M K * T 7% Mo Par . 3' 4 MO Pac pfd ■. 4 1 r N Y Cent 32% 31% 32 32>4 N Y Chi A- St L 14 N Y Ch-St L pfd 17 N Y New Haven 15% 15% 15% 15% N Y Ont & Wes 8% Norfolk jk Wes. 15P 2 Nor Pac ** 21% 21% 21% 21% Pen R R 29 28'4 29 29% Sou Par ■ 18% 18 8 SOU R R 23'.- 23% SOU R R Pfd ... 26% 26'R 26% 26% Union Pacific 110 110 Wabash 2' 2 West Mary 8% 8% Motors— Auburn 50% 50 50% 49% Chrysler 49% 49% 49% 49% Gen Motors ... 32% 32 '4 Graham Mot 2% Hudson ... 12* Hupp 3% 3 7 r Mack Truck 33% Nash 22% Packard 3% Reo 2 7 8 2 s Studebaker 4% 4 Yellow- Truck 4 3■ s Moto.' Access— Bendlx 15% 15% Bohn Alum ... ... 50 Borg Warner .. .. ... 18% 19-4 Bslrns i" I '* Budd Wheel 3% Eaton Mfg , 43% Elec Auto Lite.. .. ... !•% IPa Houd A 3-s Mullins Mfe Murrav Bodv 6 6 Stew Warner 6 Timken Rol ... 28% Mining— Alaska Jun 20% 20% Am Smelt 39% 59% Anaconda 13% 13 Cal & Hecla 4 Cerro de Pasco 31 ’2 31% Granby •.* Gt Nor Ore 10% 10 * Homestake Min.. .. ... ... 300 Hcwe Sound 32 Ins Copper . •• • 4 St Nickel .... 21 20% 21 21% K ennecott Cop. 19% 19 19 19% Noranda Cop ... ••• 33 s Phelps Dodge ... ••• 15% Tobaccos — Am Snuff f?, Am Sum Tob 15% Am Tod a • •• • •• SB% Am Tob B .... 71% 71 71% 70-.. Gen Cigar ... 2. Ligg & Myers B 81% 81% Lorrillsrd . 18 J*, Reynolds Tob B. 45% 45 45 45% Equipments— Allis Chalmers 16 2 16% Am Cs; A* Fdv .3 23-2 Am LO' o .. Am Mach A- Fdv Am steel Fdv 18% 19 Bald Loco 11 11* Burroughs Case J I 85 Cater Tract ... .•■ • . 2 ?; Colgat Palm Pert 9% 9% *% 9% Ctmgoleum 22* Elec Stor Bat • 45% Foster Wheeler. 13 Gen Am Tank C 32 J 32% 3>% 32% Gen Elec 17% I<% IPs I<% Gen R R Sig 31% Ingsol Rand 58% Int Bus Mach !Jl% Hit Harvester 38% 3< Kelvmator 11 % Natl Cash Reg 16% Proc & Gamble 39 Pullman Inc 48% Simmons Bed 15% Und Elliott 34% West Air B 2<% Westinch Elec . 35% 35% 35% 35** Ctilties— Am <fc For Pwr ■ % Am Power A- Lit , * AT&T 110 109 s * Am Wat Wks 17% 17% Brook Un Gas • ■ ®2% Col Gas A- Elec 10% 10% Col G A- E pfd . 51 Com * Sou .... i* 1% 1% .1% Consol Gas 35 ■ 36 Elec Pwr & Lit 4% 4% E P * L pfd . 8 Int T* T 12% 12% Lou G As E A- 15 15 Nat Pwr A- Lit . 8■ • North Amor .....13% 13% l.v? 14% Pac G & E .... 16% 16 16% 16 Pub Serv Nj .. 33% 33% 33% 34 So Cal Edison 15% Std Gas • • • % |Std Gas pfd 8 8% plnited Corp 4 2 4% L .Pwr A- Lit ’A .. .... 2*4 2 s * Union.. 31*4 31% 51* Sl% | " tone*” 19% 17*4 l% 19 ■ übbe- 14% 14% ■9 bber pfd 23 23% I r-e: ' ■

CrofUey Radio 73, RKO° C ° rP ' fiT * ®' /2 "*\f | Warner Bros".! '5% '4% 5 * 4% Foods— Am Sugar ..... 4R . Armour A 4: 2 4 Borden Prod . 20% '20% 2 0' 4 20% C3l Ps.cKini? . iQi Can Drv G Ale. .. ' ’ 04 Coca Cola q?, Cont Bak A . . Corn Prod '7? 14 2 Crm of Wheat .... . 27 s * 27 1 * roM *3% ”‘4 33% 32% Gold Dust . 17 17 G W Suear '" 00. Hershev ' ' 4Ri‘ Int Sail ; "• 2? * Natl Biscuit 47 4 Natl n Prod . . 12% 12 12% 12% Purity Bak . i?i. n S Porto R Sue . . . 33, Sid Brands . 21 20% 'jj 21% United Fruit ... sni, cq Ward Bak A * 71,, Wrißley ];' 54 Retail Stores— Asso Drv Gds 111, Best <fc Cos 27 2 Gimbe! Bros ..' ' 4% Hahn Depi Sts.. .. ' 5 Ki'P.'-ae s S ! 12% Kroser Groc. . 23% 23 23% 22% Macy R H . 431. May Dept S'. 27% Mon' Ward 20% 20% 20% 20% Penny J C 511 Safeway St '44 433* Sea's Roebuck.. 40 39% 4040% Woolvvorth 391-2 38% Aviation— Aviation Corp gv Douglass Air. . .. ... ij% 131. Curtiss Wri 2% 2% Curtiss Wri IAI . .. . . 5% 5 Nor Am Av ... 45,. United Aircraft.. .. ... *30% 30% Chemicals— Air Reduction. ... ... , 99 Am Com Alcohol ... 46% Col Carbon ’ ’ ’ ggi,. Com Solvents.. 30% r. 6% .30% 31 Dupont .... 87% 87% 87% 87% Freeport Tex 433“ Liquid Carb %a 26% Math Alkali . sSif Tex Gulf Sulph 40 1 2 40 46 39 4 Union Carbide , 43% 43% 43% 43% U S Indus Alco 52% 53% Natl Dist inewi 23■ 23 23% 23% Drugs— Cotv Inc .. .. 4 4 I . nc „ , ?2 ' 2 223 Lehn <fe Fink ... . 173. Zonite Prod ... ’’’ g Financia'— Adams Exp .. 7% cAlieghenv Corp 31 31* Chesa Corp , 331 Transamerioa ’ ' gv g>‘ Tr Conti Corp 41. Building— Am Radiator 131. %i Gen Asphalt 4 ils 4 Int Cement ...... ... ’ 29'Johns Manville . 55% 55 55% sail Libby Owens Gls . . 323, oqi,” Otis Elev 4 4 77 8 Lien Const ] ?% Misce latieous— Am Bank Note , . ,3, Am Can 93 '92 '93 03 2 Anchor Cap ... 7,7 Brkl.vn Man Tr . .. La 8 Conti Can '72% 78 Eastman Kodak .. .' 73% 70 Owens Bottle. ... 18 4 i* Gillette s 7% ”77 b p 2 Giiddcn 8 Gotham Silk ... 7 '7 "7 2 ; . Indus Ravon ... 7734 7,7 4 Inter Rapid Tr. .. '.'.. jji 8 investment Trust Shares j lßy Abbott, Hoppin & Cos.) Bid. Ask. American Bank Stocks Corp. 70 80 American & General Sec A.. 3 00 5 00 American * lnv Tr Sh 1.50 2 50 Basic Industry Shares .... 310 795 British Type Inv Tr Sh ..s .. 40 46 collateral Trustee Shares A . 4 37 4 go Corporate Trust Shares • old 1 2J4 2 17 Corporate Trust Share' inewi 2 21 2 24 Cumulative Trust Shares ... 382 Diversified Trust Shares A. .. 625 Diversified Trust Shares B .. 6 87 7.12 Diversified Trust Shares C... 2 84 2 90 Diversified Trust Shares D .. 4.37 4g2 First Insurance Stock Corp.. 123 127 First Common Stock Corp... .83 or Fixed Trust. Oil Shares A ... 8 00 8 25 Fixed Trust Oil Shares B ... 6 50 6 75 Investors Inc 17.00 1725 Land Bank Bono Shares 93 1 03 Low Priced Shares 5.25 Mass Inv Trust Shares 17 00 17 95 ation Wide Secnri ies 2 08 7 04 North Am.” Trust Sh .53'.. 178 Nor-ii AmdTr Shares 'sß' .. 2.30 259 Seleced Amer Shares 2 25 Seler.cd Cumulative Sh .... 625 gSO Selected Income Shaies 337 ,7 62 Std Amer Tr Sharpy A 275 279 Trust Shares of America .. . 26S 269 Trustee Std Oil A 510 5 25 Trustee Std Oil B 4 78 4 98 U S Elec L Sr F A p 87 10 37 Universal Trust Shares . ... 283 287 Bright Spots Bt I’nited Prfw American Power and Light Company reports power output for week ended Dec. 14. was 77.309.000 kilowatt hours, up % per cent from similar 1932 week. Phelps-Dodge Corporation declares special dividend of 25 cents a share. Iron Age estimates steel production at 36 per cent of capacity, up 5% per cent from last week's level. Edison Electric Institute reports power output in U. S. for week of Dec. 16 was 1.644.018.000 kilowatt hours, up 6.6 per cent from previous week. Independent Penumatic Tool Company declares extra dividend of 25 cents a share in addition to regular quarterly dividend. Chesa neake and Ohio Railway earns November surplus of $2,569.832, against $2,041,183 in Novemoer last year.

STOCK SHARES SHOW UNEVEN TRADING RANGE Several Groups Advance Fractions: Volume Light. Average Stock Prices Average price of thirt indus’riais for Wednesdav high 97 96. low 93.70. last 95 26. off 1.97 Average of twentv rails 40 47. 38 39 .39.33. off .63. Average of , twenty utilities 22 88 21 89 22 15. off .57. Average of forty bonds 82 78, off .01. A-erage of ten first rails: 89 21. up 22. Average of ten second rails: 68 89. up 10, Average of ten utilities 91 12. off 23 Average of ten industrials: 83 91. off .14. BY ELMER C. WALZER foiled Press Financial Editor NEW YORK. Dec. 21.—Price movements were narrow and irregular at the opening on the Stock Exchange today. Trading was moderately active. Issues under pressure yesterday were steadier. Atlas Tack opened at 14 unchanged, while Ceianese rose to 35, off *2 from the previous close after opening at 34’;:. Wet stocks were around the previous close. U. S. Steel Weak Industrial leaders were mixed. U. S. Steel declined % to 45 **, while American Can lost *4 to 92 , General Motors rose % to 32%, and Chrysler held unchanged at 49%. Changes throughout the lust were fractional in the early trading and volume fell off sharply with tickers barely moving. Fractional gains were noted in Western Union. Dome Mines, McIntyre Porcupine, Northern Pacific, Schenley, Auburn Auto. Bethlehem Steel, and Westinghouse Electric. Small declines were made by Sears Roebuck. New York Central, General Electric, Standard Oil of New Jersey, Alaska Juneau, and International Nickel. Rail Issues Firm American Tobacco B rose to 7114, up 1 point, and gains of’ nearly a point were noted in American Telephone at 110 and Texas Gulf Sulphur at 40M>. Prices were steady to firm in the early trading. Steel common made up nearly all of its initial loss. Chrysler firmed up fractionally. Union Bag and Paper was quiet at 41, up '4 point. Oils were relatively active. Rails ruled firm. Utilities were about steady. Bank Clearings INDIANAPOLIS STATEMENT —Dec. 21— Clearings $1,606,000.00 Deblts 5,067,000.00 TREASURY STATEMENT . - Dec. 21— Net Balance for Dec... 19 $1,233,009,104 11 Misc Int Rev Rcpts. ...... . 2.023.944.90 Customs repts imo. to da.) 17.268.261.32 New York Curb (By Abbott, Hoppin & Cos.) —Dec. 20— Close Close Allied Mills . 7% Ford of Can A. 13% Alum Cos of Am 70 Ford of Europe q'ti Am Beverage 1% Great At. & Pae.l2B Am Cyanide B. 14% Glen Alden Coal 10% Am Gas & El. 2V, Gulf Oil of Pa . 541, Am Superpower 1% Hiram Walker. 47% Ass Gas Ac El.. % Hud Bar Min... 9% Atlas Corp .... 10% Humble Oil S8 Axton Fisher T 63% Imperial Oil Ltd 12% Brazil Tract AcL 11 int Petrol 19 3 4 British Am T A 28% Lake Shore Min 43% British Ceianese 3% Lone Star Gas.. 5% Can Xnd A "A” 19 Mt Producers .. 3% Can Marc ... 2 Natl Bellas Hess 2 Carrier Corp... 5% Nevvmcnt Min.. 45% Cities Serv l%Nia Hud Put... 5 Common th Ed 34% Pan Am Airways 45 Con Gas of B 50% Penn Road ... 2% Cord Corp ... 5% st. Regis Paper 1% Creole Petrol 10 Sal Creek Prod. 5% Crown Cork Int 6% Sherwin Wms.. 45% Deere Ac C 0.... 27’, Std of 1nd.... 32 : 4 Distillers Lira.. 20% Std of Ky . . 14% Distillers Corp 22 Stutz Mts 5 Dow Chem . ... 69'2, Technicolor Ind 8% El Bond Ac Sh. 10% Teck Hughes G 5% Fisk Rubber... 7% Un Pwr &Lt A. 1% Wright Har Min 6% Daily Price Index By United Prmg NEW YORK. Dec. 20.—Dun Ac Bradstreet s daily weiehted price index of thirty commodities, compiled for the United Press: (1930-1932 average. 100) Today 98 08 Yesterday 98 83 •Week ago 100 30 Month ago 101.03 Year ago Tt 72.49 1933 High 1 July 18) 113.52 1933 Low (Jan. 20' 67.86 Copyright. 1933. bv Dun Ac Bradstreet. Inc.

U. S. Government Bonds

By United Prrieg NEW’ YORK, Dec. 20.—Closing Liberty bonds 'Decimals represent thirty-seconds) LIBERTY 3%s (32-47) 100.6 •First 4%s '32-471 101 10 Fourth 4%s '33-38) 101.2i Fourth 4%s (33-38i called 101.2 TREASURY 4%s (47-52) 106.4 4%5. 3%s (43-45) 98.24 4s '44-54) 102.26 3%s (46-561 101.5 3%s (43-47) 99.5 3%s (41-43) March 99 4 3%s (40-431 June 99 12 3%s (41' 98.17 3%S 146-49) 95.17 3s (51-55i 94.3 NEW YORK COFFEE FUTURES SANTOS High Low Close January 8 gj March 8.79 8.73 8 79 May 892 886 8.92 July 8.97 891 8.97 September 9.39 9 32 9 34 December 8.55 RIO January 6 19 March 628 6.20 628 May 643 635 6.43 Julv 6.48 September 6 59 December 6.10 CHICAGO FRUIT MARKET By T nitrd Prett* CHICAGO. Dec 21.—Apples—Michigan Jonathans. *l4o® 1.50: Mclntosh. SI. 50® 1.85; Carrots- Illinois, 50c bushel. Spinach Illinois. 40® 60c bushel. Brans— Southern green, $1.25® 2.00. Mushrooms— Illinois. 15'n75c lb carton. Cucumbers— Southern. $2.25®2.85: hothouse. $2 25® 2.50. Tomatoes—California. s2® 2.50: Illinois and Ohio hothouse. $1.15® 1.25. Leaf lettuce-—lllinois hothouse. 15c box Celerv —Michigan. 40® 90c. Cabbage—Wisconsin, s2® 2.25, 100-lb sack. Sweet potatoes— Illinois. $1.15® 1.35: Indiana. slso® 1.60. Onion Market Western Valentias. 90c® I $1.10; Central western yellows. 95c® 1.0a; I western lowas. $1 50®! 60 NEW YORK RAW SUGAR FUTURES —Dec. 20— Hieh. Low. Close. ! January 1.12 1 11 1.12 March 1.18 1.16 1.18 Mav 1 25 1 22 1.25 Julv 1 30 1.28 1 29 Seotember 1.34 1.33 1 34 December . 1.12 MEETING TO CHOOSE RFC LOAN COMMITTEE Fifteen Will Seek Funds for Indianapolis Industry. About fifty persons are expected to attend a meeting tonight in the | Washington to form a committee of fifteen to obtain loans for Indianapolis industries and firms under regulations of the RFC. Plans for the meeting were made j by Mark R. Gray. Commercial editor. and Ward B. Hiner, truck line operator, who explained committees of fifteen must be set up to obtain direct loans to industries from the i RFC. I

THE INDIANAPOLIS TIMES

Chicago Stocks — Bt Abbott. Hoppin St Cos TOTAL SALES. 57.n0n SHARES Dec. 20— High. Low. Close Abbot Lab ... 42% Acme Steel Cos ... ... 27 Amo Telephone Util 1, As;o Tel Util A pfd i 4 Bastian Blessing . *l, Bendix Avia’ion 15% 14% 15% Btnks Mfg ... 1% Brach Ac Sons . 8 E L Bruce Cos 11% 10% 10% Butler Bros 3% 3% 3% Cent 111 Pub S*rv pfd. 14 13 13 Cent 111 Securities com. .. . . % Cent 111 Securities pfd. . . 6 Cent Ind Power pfd . 1% Cent Puo Serv Cl A 1, Cent Pub Util 1, Cent Pub Util V T C 1, Cent Ac So West % % % Chi Ac North Western. 7 6% 7 Chicago Corp com. 2% 2% 2% Chicago Corp pfd 22 21% 22 C No Sh A- Mil R R pf . . i„ Cities Service . . is, Commonwealth Edison. 34% 33% 34 Construct Materials . . 1 % % Cord Corp 5% 5% 5% Crane Cos 7% 7 7 Crane Cos pfd 44 40% 40% General Parts . % Godchaux B ..5 Great Lakes Aircraft.. 1% i 1% Great Lakes Dredge . 19% 18% 18% Grigsbv-Grunow % % % Hall Printing 3% Houdaille-Hershev A . 10% 10% 10% Houdaille-Hershev B 3% Illinois Brick . . 4 Kalamazoo Stove 20 Kentucky Ut Jr Cu pfd .. 10 Libbv-McNeil . . 2% Lincoln Printing . . % Lynch Coro 31 29% 297, Marshall Field 13% 12% 12% Middle West utiKies . % Middle WUt 6'' pfd A % % % Midland United % % a* Midland United pfd .... .. % Monroe Chemical . . 2% Monroe Cehmical pfd.. .. . . 20% Messer Leather .. 8 Muskegon Mot Spec A .. . . 10 National Elec Pow A. .. ... % NaMoel leather .. . 1 National Republ Inv... 1 % 1% 1 : 4 National Union Radio .. ... % Noblitt Sparks Ind Inc. 24% 23 24% No Amer Light A; Pwr. . . ... 1% Northwestern Bancorp. . 3% 3% 3% No West Util pr lien .... . . -214 Parker Pen ... 4 Potter Cos 3% 33 Prim a Cos 8 7% 8 Public Service 14% Public Service N P . 15 14% 15 Public Service 6% pfd .. ... 38 Raytheon VTC ... 2 Ryerson & Son 13% St Louis Nat Stock Yds .. ... 51 Sivyer Steel Cast 6% Standard Dredg Cos pf .. ... 2% Storyline Furniture .... ... 4% Swift & Cos 14% 13% 13% Swift International .... 27% 26% 27% United Gas Corp ... 2 Utah Radio ... 1% Utility At Ind ... % Utility At Ind pfd 1% Viking Pump pfd ... 24% Vortex Cup Cos . . 8 Walgreen Cos com 17 16% 16% Ward Montgom A 85 83 83 Wieboldt Stores ... 9% Wisconsin Bankshares 2% 2% 2% Zenith Radio ... 2% Foreign Exchange By Abbott. Hoppin At Cos. —Dec. 20— * Close. Sterling. England $5.09% Franc. France 0609 Lira. Italy 0816 Belgios, Belgium 2156 Mark, Germany 3710 Guilder. Holland 6245 Peseta. Spain 1276 Krone. Norwav 2565 Krone. Denmark 2280

On Commission Row

—Dec. 21 Fruits Cranberries—Cape Cod early blacks. 25- I lb. box. $2.50. Grapes California emperors, crate. $2.15® 2.25. Pears Washington D'Ajou 90-165s>. $2.50; Washington Bose i!00-135s*. $2.75; Avacos, Fla. <l6-16ci, 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® 3.75. Oranges—California Navels, $4 a box. Lemons—(36oc), $5.50. Vegetables Cabbage—Eastern Danish. 50-lb. bag ! $1.65; new Texas. 70-lb. crate. $5. Onions—lndiana white, 50-lb. bag, $1.25; j Indiana yellow. 50-lb. bag, 51.25; green. ! $6.50 a barrel. Beans—Florida stringless, hamper, $2.50 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 $2.50. Celery—Michigan Mammoth, bunch, 85c: bedium bunch, 45c; hearts, $1.15; 15-bunch per crate, $1.15; California. $2.75 crate. Cucumbers Florida. 53.75 bushel; hothouse. 85c per dozen. Lettuce —Iceberg best (4-ss) crate. $3.75; hothouse. 15-lb. basket. 90c. Radishes —Hothouse button, 40c dozen. I 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. Stv'eet Potatoes—Nancy Halls, per bu., $1.40.

Produce Markets

Delivered in Indianapolis prices—Hens, | 9c; Leghorn hel. 6c; neavy breed spring- | ers, 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. Turkeys—No. 1 young hens, 8 lbs. and over, 10c; young ioms, 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. ■ 20®21c; No. 2. 17®18r. Butter—No. 1. 25®26c; Ho. 2. 22® 23c. Butterfat —11c. Quoted by the Wadle.v Company. ■< BY UNITED PRESS CHICAGO. Dec. 21.—Eggs—Market, easy; receipts. 4,991 cases; extra firsts. 18%c; fresh graded firsts. 16%c; dirties, 10® 12c: current receipts. 15%c: checks. 10® 12c. Butter- Market. steadv; receipts 8.902 tubs; extras (92 score). 18c; storage extras >9O score'. 15%c: storage standards '9O scorei. 15 %c: extra firsts 190-91 1 score'. 15%®15%c: firsts <BB-89% scorel7 14%®15c; seconds < 86-87' a score'. 14c: standards (90 score). 15%c: specials, 16% ®l7c. Poultry-—Market, weak; receipts. 56 trucks. 3 cars due: tutrkevs. 12®17c: hens, 8%®10c: Leghorn chicks. 7%c: colored snrings. 10'2c: old roosters. 6c; ducks. 7%®8%c; geese. 10c: rock springs. 10® 10%c. Cheese—Twins. 9%® 10c; longhorns. 10@10%c; southern daisies. 10® lO'ic. Potatoes—Sudplv moderate: det mand and trading slow: market about steady: Wisconsin round whites. $1,25® 1 1.35. mostly $1.30® 1.35: Idaho Russets. $1.60® 1.62%. mostly $1.60. combination grade. $1.40; U. S. No. 2. $1.35. Shipments. 476; arrivals. 53: on track. 214. Other Livestock BY UNITED PRESS LAFAYETTE. Dec. 21.—Hog market steadv to 15 cents higher; 170-225 lbs.. 53.05® 3.15: 225-275 lbs.. $2.95® 3: 275-325 lbs.. $2.85® 2 90; 140-170 lbs. 52.75®3: 120140 lbs.. *2.25® 2 50: 100-120 lbs.. *1.50® 1 1.75: roughs. $3.25 down. Top calves, $5. 1 Top lambs. $6. PITTSBURGH. Dec. 21. Hogs- Receipts. 2.300; holdovers. 2,100; demand improved over yesterday at steadv prices. Top. 53.25: most 170-220-!b. weights. 53.25%3.30: 230 lbs. up. $3.15® 3.25: 120-150 lbs.. $2.75 ®3: 90-120 lbs.. 52.50® 2.75: packing sows. $2.50 down. Cattle —Receipts. 10; nominal. Top steers best Monday. *6.10. Calves— Receipts. 100: steady: better grade vealers. mostly S6: heavy calves. $5 down. Sheep— Receipts. 500; strong and steadv prices; bulk desirable fat iambs. $7.50; common. $3®,4.50: aged wethers, .$3.50 down. Births Girls Frank and Rose Conway. 1733 South Delaware. Ralph and Frieda Snyder. 264 South Rural. Lee and Eva Kroencke. 57 South Tuxedo. Charles and B'idget O’Connell, 560 North Eastern. Bovs Thomas and Leu... v.a Fave. St. Vincent's hospital. Meade and Virginia Ruddick. 925 South West. Deaths George R. Aitken. 51. 2418 Ashland, chronic endocarditis. William Malone. 63. city hospital, arteriosclerosis. Emma Bell Dixon. 83. 2251 College, arteriosclerosis. Ora Durst. 59. city hospital, cerebral apoplexy Catherine F MeAloon. 74. 5560 Washir.g'.on boulevard, hvpostatic pneumonia Frank E. Nagle. 61. 1528 East Ohio, carcinoma. Eli A. Abbott, 72. 5054 East Michigan, acme nephritis. Cleo Kossmann, 42. Methodist hospital. : pelvic abscess. Marv A. Fflslerer, 58. 237 Richland. | diabetes. Hal Maholmes. 53. 2517 Northwestern, pulmonary tuberculosis. Catherine Rothert. 93. 1421 Leonard, cronic myocarditis. Pearl Brose 20. city hospital, anemia. Frank A White. 54. 1105 East Ninth, arteriosclerosis. Plumbing Permits Harry McCann. N. W. corner Madison j and McCarty St 2 fixtures. B“ c l P umbine Company. 5856 Guilford. 1 fixture. A. C Ember. 1021 Virginia Ave.. 3 fixtures Bob Liefenderfr, 1911-13 West Washington. 6 fixtures.

SWINE MARKET GAINS 15 GENTS AT STOCKYARDS Cattle, Lambs Unchanged: Vealers Strong at $6 Down. Strong tone developed in hog prices at the city stockyards this morning, with most classes displaying a 10-cent advance over yesterday's average. The bulk, 160 to 275 ' pounds, sold for $3.15 to $3.30. Few small lot sales were reported at $3.35, while heaviest grades weighing 275 to 350 pounds were selling at $3 to $3.10. Lighter porki ers scaling from 130 to 160 pounds sold at $2.85 to $3.15, and light pigs weighing 100 to 130 pounds brought $2 to $2.60. Receipts were estimated at 6.000. Holdovers. 349. Cattle market held mostly steady with the previous session. Beef steers and cows showed slight action, while heifers were almost unsalable. Bulk steers sold at $4.50 to $5.75. Cows held at $2 to $3. Receipts numbered 500. Vealers were 50 cents higher, salable at $6 down. Receipts sere 400. Steady sales featured lamb trading. Ewe and wether grades were available at $7 to $7.25. Bucks discounted at sl. while throwouts ranged down to $4. Receipts were 500. Initial bids on hogs at Chicago were strong to around 5 to 10 cents higher than Wednesday’s average at $3.30 to $3.35 for choice kinds weighing 200 to 230 pounds. Receipts were estimated at 28.000. including 7.000 directs; holdovers. 2.000. Cattle receipts were 4.000. calves. 2.000; market strong. Sheep receipts, 10,000; lambs around 25 cents higher. _ HOGS Pj o - t _ - Sulk. Top. Receipts. 15. $3.20® 330 $3.25 12 900 16. 3.10@ 3.20 3 25 3 000 18. 3.20® 3.35 3.35 9 000 in' 3 00® 3.15 8 15 14 000 20- 3.00(5 3.15 3 20 6,000 21* 3.15(5. 3.30 3.35 6,000 Market, higher. (140-160) Good and choice . $ 3.00® 3.15 —Light Weights—-'l6o-180) Good and choice. .. 330 (180-2001 Good and choice. .. 330 —Medium Weights—-'2oo-2201 Good and choice . 325 '220-250) Good and choice 3.20® 3 25 Heavy Weights—-'2so-2901 Good and choice.. . 3.10(5 3.15 '290-350) Good and choice . . 3.00(5 310 —Packing Sows—'3so dowm Good 2.35(5 265 '350 up ( Good 2 25(5 2.50 'All weights) Medium 2.00®, 2.35 —Slaughter Pigs—-(llo-130) Good and choice.... 2.00@ 2.60 CATTLE Receipts. 500; market, steady. (1.050-1,100) Good and choice $ 5.00® 6 25 Common and medium 3.00@ 5.00 (1.100-1,300 ( 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 (750-900) Good and choice 4.25® 6 00 Common and medium 2,50® 4.25 —Cows— £ ood 2.50® 3.00 Common and medium 1 75(5 2.50 Low cutter and medium LOO® 1.75 —Bulls (yearlings excluded 1 Good (beef steers) 2 00® 2 75 Cutter, common and medium.. I.oo® 2.00 VEALERS Receipts, 400; market, higher. Good and choice $ 5.50® 6.00 Medium 3.00® 5.00 Cull and common 1.50® 3.00 —Calves—-(2so-5001 Good and choice 3.50 Common and medium 2.00® 3.50 „ —Feeder and Stocker Cattle—-(soo-8001 Good and choice 3 50® 4 50 and medium 2.00® 3.50 Good and choic 3.50® 4.50 Common and medium 2.00® 3,50 SHEEP AND LAMBS Receipts, 500; market, steady. (90 lbs. down) Good At choice.* 6.75® 7.25 '9O-110 lbs. 1 Good and choice. 6.255 7.00 '9O lbs. down) Com. and med. 4.00® 6.25 —Ewes— Good and choice 1.75® 2.75 Common and medium I.oo® 1.75 (90-110 lbs.) Good and choice 6.00® 7.00

Other Livestock BY UNITED PRESS m 4 Si ICAGO ) , Dec - 21.—Hogs—Receipts. ! 28,000; including 7,000 directs; fairly active, strong to 10c higher than yesterday; bulk. 160-320 lbs.. s3® 3.35; top $3.35; lignt lights. $2.60® 3: pigs. s2® 2.50: packi ing sows. $2.35® 2.65: light lights. 140160 lbs., good and choice. $2.60®3.10: lignt weights. 160-200 lbs., good and choice. ; $2.90® 3.35; medium weights. 200-250 lbs., good and choice. $3.25® 3.35; heavy weights 250-350 lbs., gcod and choice. $2.90® 3.30: 1 packing sows. 275-550 lbs., medium and ' cnoice. $2.25® 2.75; slaughter pigs. 100130 lbs., good and choice. $2®2.60. Cat- ! tie—Receipts. 4.000: calves. 2.000; native steers strong to 25c higher: 50c higher for i week on all kinds scaling 1.200 lbs. and ! up: long yearlings, also firm to higher. ' but rank and file of light, heifers and mixed yearlings weak to 25c lower: all she-stock firm, higher; generally active ; market on all except light heifers and mixed yearlings which recently sold at $6 down to $4. now selling at $5.50 down ! to S3; best long yearling. $6.25: big weight j steers. ss® 5.35. Slaughter cattle aand ! vealers—Steers. 550-900 lbs., good and I choice. $5®6.50; 900-1100 lbs., good and choice, $5®;6.50: 1.100-1.300 lbs., good and ; choice. $4.75® 6.25; 1,300-1.500 lbs., good and choice. S4®6: 550-1.300 lbs., common and medium. $2.75® 5.25; heifers. 550-750 j lbs., good and choice. $4.25®6.50: com--1 mon and medium, $2.50®4.25: cows. good. 52.75® 3.50; common 1 and medium. s2® 2.75; ! low cutter and cutters. $1.35® 2; bulls, ! yearlings excluded, good beef. 52.75®3.25: 1 cutter, common and medium. s2® 2.85; : vealers. good and choice. $4.25®5.75: me--1 dium. s3® 4.25: cull and common, $2.50® 3. Stocker and feeder cattle—Steers. 550-1.050 jibs., good and choice. $3.75® 5; common and medium. $2.50®3.75. Sheep—Receipts. 10.000: fat lambs active, undertone. 25c higher: best, held toward. $7.75: bids and few sales, $7.25®7.50; sheep firm, feeding iambs, scarce. Slaughter sheep and lambs —Lambs. 90 lbs. down, good and choice. s7® 7.65: common and medium. $5 i ®7: ewes. 90-150 lbs., good and choice. $2.25® 3.50: all weights, common and nc---1 dium. $1.50® 2.75. Feeding lambs—so-75 I lbs., good and choice. $5.75® 6.35. I CLEVELAND. Dec. 21.—Cattle—Receipts. 150; slow and dull; prices unchanged from j yesterday at $6.50 top: choice 750-1.100-lb. steers. $6®6.50: good 600-1.000-lb. heifers, i X4.25®4.75; good cow's, all weights. $2.50® 3. Calves—Receipts. 250; market 50 cents lower: bulk of selling at $5.50: choice to prime. $5.50®6; choice to good. $5.00® 5.50: fair to good. s4® 5. Sheep—Receipts. 1.000: market fairly active and fully j steady; choice wethers. $2.50®3.25: medi--1 um to good. $1.50® 2: choice spring lambs. 1 s7® 7.50: good to choice. S6® 7. Hogs—Rei ceipts, 850: market 5c to 15c higher with j trading slow on the advance: heavies, I $3.40® 3.50: choice butchers, 150-250 lbs.. I $3.50; pigs, $2.75. I EAST ST. LOUIS. 111.. Dec. 21.—Hogs— Receipts. 10.500. including 3.000 direct: market around 5c higher: pig' and light ! ligrts opened steadv to strong: top. $3.35: 1 many held at that price: early bulk. 160300 lbs.. $3 30: 140-150 lbs.. s3® 3 20; 100- ' 130 lbs.. $2®2.85: sows mair.lv $2.25®2 40. , Cattle —Receipts, 2.000; calves. 1.000; marj ket. slow on steers, with a few early sales about steadv at the week's decline at $3.75 ®5: vry narrow demand for mixed yearlings. heifers, cows and bulls with early bids lower; vealers 25c higher; top $5 75 Slaughter steers. 550-1.100 lbs., good and ■ choice. ss® 6.25; common and medium. ! $2.75® 5; 1,100-1,500 lbs., choice. $4.50® 5.75: good. $3 75® 5.50: medium. $3.25® j. Sheep—Receipts. 1.500: market not yet established; asking fullv steadv or $7®.7.25 for desirable lambs; packers talking lower: 1 indications steadv on sheep: lambs. 90 lbs. down, good and choice. $6.50®7.25: com- j mon and medium. S3 50® 6.75; yearling wethers. 90-110 lbs . good and choice. $4.50 ®5.75: wes. 90-150 lbs . good and choice. 51.75® 3: all weights, common and medium. sl® 2.25: FT. WAYNE. Dec. 21—Hogs—Receipts. 15c higher: 160-200 lbs $3 25: 200-250 ibs ;3 15: 250-300 lbs . $3 05: 300-350 ,bs.. $2 50: 15-16 lbs.. $3: 140-150 lbs . $2.90. 130-140 lbs.. $2 80; 100-130 lbs. *2.35 roughs. $2.25: stags. $1.50; calves. $5.50; iambs. $7. By Timm Sprrinl LOUISVILLE. Dec. 21 —Cattle—l7s: slow and generally steady on all classes; bulk common to medium steers and heifers. *3 ® 4.25: better finished offerings eligible to $5 and above: bulk beef cows. *1.75® 2.25; low cutters and cutters mostly Sl® 1.50; , sausage bulls *2 75 down: native stockers and feeders mostly $2 50 ®3.50; desirable Hereford heifer stock calves $4.50. Calves — 175: steady: bulk better grade vealers s4® 4.50: medium and lower grades. $3 down Hogs —1,000: stead’. : 180-250 lbs $3 35: 255 Ibsi up. *3.5: 140-175 lbs. *3: 110-135 lbs. $2 20: 105 lbs , down. *1.55 sows $2 05; stags 80c Sheep—so. steadv bulk medium to good iambs. *5 50®6 choice kinds *6 50. bucks discontinued. *1; throwouts, $3.50: desirable fat ewes. *2. >

—Today and Tomorrow — Nation Must Shake Off Depression Melancholy Before Recovery Succeeds. BY WALTER LIPPMANN

IN a series of interesting dispatches Mark Sullivan recently has been asking whether the new deal marks "a fundamental departure from the American system" of "permitted profit and private ownership of property.” The question is prompted by the great extension of government power over agriculture and industry. By 'fundamental departure." Mr. Sullivan means. I take it, an adoption of collectivism under which the control of production would be planned by. and the distribution of the income from it would be managed by, public officials.

To deterrrfine whether this is the intention of the administration Mr. Sullivan has been subjecting the speeches and writings of its members to a species of higher criticism in the hop? of reading between the lines what the future promises. This is an interesting thing to do and useful in that it may lead to a clarification of ideas. So I am venturing to make a suggestion to Mr. Sullivan which possibly may help him in his researches. It seems to me that one can not begin to distinguish between the permanent and the temporary in Washington until one has isolated and discounted the effects of what might be called the typical hypochondria. the low spirits or melancholy, which attends every great and prolonged trade depression. This is the feeling that the great days of enterprises are over and that the country is hopelessly-

choked by an unmanageable overproduction. It is this feeling as I attempted to show the other day. which has inspired precisely those measures under NRA and AAA that call for the largest amount of collective control. Without this feeling we should not have either of these experiments in anything like their present mag-

nitude or intensity. Their vital | principle, that is to say, the principle which causes the majority of farmers and business men to adopt them, is that they may make* possible an increase of production. Now, the sense of being choked by overproduction invariably accompanies a depression. It is natural enough that it should. There is more wheat, cotton, metal than can be sold, there are factories working ; at. a small fraction of capacity, there are railroads, ships, apartment houses, hotels, partially empty and idle, there are great numbers of j unemployed men, great funds of idle capital. It looks as if there were too much of everything. In every great depression the public generally, and even some economists of high standI ing, contemplate these things and conclude that the obvious results of the depression, namely, an unsalable excess of everything, are really the causes of depression. This is so persistent an optical illusion that in the depths of a depression it is almost impossible to shake it off. Now, it is very important to shake it off if we are to deal intelligently with recovery and with the more permanent reconstruction. The best ■way I know of to get rid of this illusion is to read economic history. a a a TT'OR example. In 1886, Dr. Car- -*■ rol D. Wright, the commissioner of labor, wrote a report. There had then been a world depression lasting about thirteen years, interrupted by a small and temporary rej covery around 1880. This is what Wright said forty-seven years ago: "The family of manufacturing ; states, Great Britain. France, Belgium and the United States, if not Austria, Russia and Italy, are suffering from an industrial depression novel in its kind, and yet having j characteristic features of similarity j throughout the whole range of states . . . overproduction seems to prevail in all alike ... In England, I Belgium and France the railroads i and canals that are really needed | have been built ... In Holland the I great works are completed . . . This j full supply of economic tools to meet the wants of nearly all branches of I commerce and industry is the most i important factor in the present in- ; dustrial depression. It is true that the discovery of new processes of manufacture will undoubtedly continue, and this will act as an ameliorating influence, but it will not leave room for a marked extension, such as has been witnessed during the last fifty years, or afford a remunerative employment of the vast amount of capital which has been created during that period.” Yet when Carrol D. Wright wrote these words the physical volume of production in the United States was not one-third of what it was in 1926, and per capita it was about 56 per cent. Forty years after Wright thought that we were over producing we were producing and selling nearly twice the amount of goods per person. ana Wright was the victim of an optical illusion. But he was not the first nor the last among able and enlightened men who have been the victims of it during a depression. Any one now liivng must be astonished to learn that in 1819 there were economists who thought the world then was producing more than it could consume, and yet we find Sismondi, the well-known Swiss economist, writing more than a century and that “overproduction is a fatal effect of contemporaneous economic organization.” We are justified, therefore, in describing the doctrine of overproduction as a kind of melancholy, which accompanies a prolonged economic breakdown. It is not at all unlike the state of mind of the bedridden \ patient during a long and slow convalescence. He does not think he is ever going to get up again and walk, and secretly he hardly wishes to. He is half afraid to leave the controlled environment of the sickroom, the managed existence of the invalid, j and often you have to push him out of bed to make him well. Perhaps the time has come -to push ourselves out of bed and throw off our own well-developed case of hypochondria. At any rate, until we have done this, we shall not see clearly how many of these cushions, crutches, tobies, diets we need permanently. Nor shall we see clearly just what reforms of our habits we mean to make in order not to lay ourselves up again in quite such a desperate illness. Ccopvrigrt. 1933) In the Cotton Market —Dec. 20— CHICAGO H.gh. Low. Close, j January 9 98 9.91 9 95 i March 10.20 10 05 10 10! Mav 10.32 10.17 10.25 i July 10.44 10 34 10 38 December 10.10 NEW YORK January 9 93 9 80 9 86 , March 10 11 997 10 02 ! Mav 10.25 10.11 10.19 July 10.39 10 .27 10 30 October 10 58 10.45 10 59 I December 9 91 9.76 9.88 NEW ORLEANS January 9 38 9 80 9 85 •March 10 07 9 95 10 03 Mav 10 23 10 10 10 18 July 10.37 10.25 10 33 October 10.52 10 42 10 48 December 9.91 9.80 9 84

'"J* " * ■ F .. . i-, '.*,<.7.'” ... 0*

Retail Coal Prices

The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed. DOMESTIC RETAIL PRICES Anthracite sl4 25 Coke, nut size 8 75 Coke, egg size 8 75 Indiana, forked lump 5 50 | Indiana, egg 5 go : Indiana, mine run 4.75 Kentucky lump 7 oi> : Pocahontas lump g 25 ! Pocahontas egg g 25 Pocahontas forked lump 9 25 Pocahontas mine run 725 New River smokeless 825 West Virginia lump 6.75 West Virginia egg 650 j Island Creek 7,00 Extra charge of 50c a ton for wheeling j coal, and $1 a ton for coal carried to bin. SCIENCE CHURCH CLUB WILL SPONSOR PARTY I’ming Peoples’ Group to Give Holiday Entertainment. The Young Peoples’ Club of the Super-Mind Science church will sponsor a Christmas party and bazar at 8 tonight in the church building, 22 1 a North Pennsylvania ! street. Following a short address by Dr. Austin Love, pastor, a feature program will be presented, under the direction of Mrs. Alice Haines, which will include a special dance interpretation of Beethoven's Minuet in G. Taking part in the dance are Mrs. Natty Joe Hackley, Mrs. Martha Wyon, Hiram Lackey, Dr. M. C. | Hammer. Mrs. Clara Rooney, Miss ; Evelyn Delton and Mrs. F. M. Kirkpatrick. Forrest L. Hackley is masj ter of ceremonies. Y. M. C. A. JUNIORS TO HOLD ANNUAL PARTY Boys of Business Section Will Be Guests of Honor. The junior department of the Y. M. C. A. will hold its twenty-first annual Christmas party tonight in the junior lobby of the Y. M. C. A. building. Guests of honor will be boys of the business section. E. O. Snethen, attorney, will be host. After a brief address by Harry W. White, general secretary of the local Y. M. C. A.. Christmas carols will be sung, followed by trumpet, accordion and guitar solos. Christmas decorations will prevail. ELM LOGS TREATED FOR DISEASE HERE Shipment From France Boiled To Kill Insects. A shipment of burl elm logs from France, received by a local veneer company, were treated for Dutch elm disease by Frank N. Wallace, state entomologist, according to latest rules from the federal department of agriculture. The logs were placed in tanks of water and kept at a temperature of 180 degrees for over six hours. This kills any disease carrying insects which may have burrowed into the wood. Mr. Wallace said. No Dutch elm disease has been reported in Indiana, but there have been reports from other states. DECLARES ACCOUNTANTS NEEDED IN COSTS WORK Retail Harware Research Director Addresses City Group. Need of business men for services of accountants in preparing costs data, was discussed by Paul J. Stokes. National Retail Hardware 1 Association research director, before ; the Indianapolis chapter. National Association of Cost Accountants, last night. Mr. Stokes said business reorganization under federal supervision has created a paradise for accountants. He said ‘ opportunity is knocking with a sledge hammer on the door of the accountant who can interpret logically the data he assembles.” DAMAGED AUTO LEFT Abandoned After Striking Truck on East Side Street. Shortly after 2 a, m. today Barney I Rappold. 1119 Villa avenue, reported to police that his truck parked in front of his home had been struck by a car. The truck was only slightly damaged, but the car was wrecked. Police were unable to find the driver of the car. License plates on the car were issued to Robert Stuck of 444 Trowbridge street. In the Air Weather conditions at 9 a. m.: West wind. 10 miles an hour; temperature. 30; barometric pressure. 30.06 at sea level; general conditions, overcast; ceiling, estimated 5.000 , feet; visibility, twelve miles. Struck by Car: Unhurt Mitred Johnson, 20. of 817 North Denny street, was struck by a car driirn by Neal Arganbright. 23, of Gosport, at Meridian and 'Wisconsin streets last night. The girl was not injured. . j

FUTURE PRICES OFF FRACTIONS j IN LIGHT TRADE Scattered Selling Weakens Grains: Government News Ignored. BY HARMAN \\. NICHOLS I mled Press Staff Correspondent CHICAGO. Dec. 21—Wheat ignored the bullish news of the government wheat and rye estimates, and opened fractionally lower cn the Board of Trad? today. Wheat futures were * to % cent lower on scattered selling. There was some buying of May and July corn, however, and the yellow ;ercal ad\ p.nced * to >, cent from yesterday's last figures. Oats followed wheat, off % to % cent. Brokers expected a dull market : during the holiday season with in--1 favorable weather conditions pre- ! vailing over a large area of the 1 wheat belt a decline in condition my be expected by next spring. 1 The situation gains importance from the prospective reduction in spring acreage and unfavorable j crop reports from Europe. Chicago Primary Receipts —Dec. 20— —Bushels Today. Last week (Wheat 682 000 446 000 I Corn 804 000 952 000 Oats 118.000 140.000 Chicago Futures Range WHEAT- L ° W 1000 C *°'" May 81% 81 81% 81% July 80% 79% 79% 80% CORN— May 48% 48 48% 47 4 July . 50 3 4 49% 50% 49% OATS—i May 35' 4 34% 35 35 (July 33% 32% 33% 33 RYE - ““f 56% 55% 56 55% I July 58 57% BARLEY— May 46% 46% 46% 46 : Jul y 46% CHICAGO CASH GRAIN ! By T nitni p r , * I 20 Cash grain: Wheat r“ No - hard. 84r Corn 'olcfi No. 3 vel•ow. 44 yVj46%c: No. 6 yellow. 43c, newt No. .mixed, 44'>/44%c: No 4 mixed, 41 ! -rI*"- fi mixed. 39',r; No 2 yellow, 44%®' 45 4 c: No. 3 yellow, 44%®45%c; No’ 4 yenow. 42%® 44 c : No 5 yellow 41'-, 43%c; No. 2 white. 44%e; No. 3 white 44,, 44 J 2 . c '--a,?P a,? No 2 white. 33 %r. No 3 white. 32c; No. 4 white. 32®32%c: samp® grade white. 28%r; No. 2 mixed. 31' , E sn, n / a o' Bariev 43® 73c. Timothy —85.50*6. Clover seed sll® 13.85 p r dM S iS?WuIS?'S%“ : IOOSe * s4lsi lEaf ’ TOLEDO CASH GRAIN By J nitre Prrsn TOLEDO. Deo 20 Grain c!o*e (Gran in elevators transit hillinn . Wheat No r°' r ‘ V,n - 2 t'ellou . 49 r ifn 2 white. 37 (. 38c. Rve - whef, m T ra r„ k , nriers. ?B%c rat When' No. 1 red. 80' ®Ble No 2 red (9 2®Boc. Corn No. 2 vellovt 441 No. 3 yellow. 42%® 4r; No. 4 vellov 41® 42c: No 5 vellow. 40®41r Oa' No • ivhite. 34® 36c; No. 3 while. 33 /, 34 c Seed c.nse: Clover December. S3; March. $3 25. Alsike—Cash. $8.50 ‘ . NEW YORK CASH GRAIN Bit 1 nitre Prrtts YORK. Dec 20 Cash qrain: Wheal No. 2 red 98%c: No 2 hard win--1 ter 98' 4 c Corn—No. 2 mixed. 55%c. Oa * —No. 3 white. 43 a 4 c. ST. EOITS C ASH GRAIN Bit T'nihe Prritit i ST. LOUIS. Dec 20 Cash era in: Wheat 1 ~l n lV r demand. 1% to 3c lower: No 1 we* B ai *£• 3 , red. 83c nominal No. I red - 84r ; N “ 1 hard 83c No 2 hard. 33c: sample hard. 7!%r Corn In far i ?2 rna nri. % to %r. lowei, No. 4 mixed new | 43c: No. 2 yellow. 46%e; No. 3 vellow. : new. 45%c; No. 4 vellow new- 43%v No 5 yellow, new 41c; No 1 white. 47% % 48%c: No. 2 white, new 46c Oats jrr ! fair demand, tone steadv: No. 2 white j 36c: No. 3 white. 34’or; No. 4 white 34c! Indianapolis Cash Grain Drc. 20— The bids for car lets of train at the ; call of the Indianapolis Board of Trade. f. 0. b.. shipping point, basis 41% New ; York rate, were; 1 Wheat- Weak; No. 1 red. 75®76c; No. j 2 red. 74'n75r: No. 2 hard. 74® 75c I Corn Weak: No. 3 white. 37®38c; No. ; 4 white. 36® 37c: No. 3 vellow 36® 37c; No 4 yellow, 35®36c: No. 3 mixed. 35®) 36c: No. 4 mixed. 34® 35c Oats Weak; No. 2 white. 29%®30%c: No. 3 white. 28 1 .®29%c. Hay—Stead”: (P. o. b. country poin% ’aking 236 c or less rates to Cincinnati or Louisville.) No. 1 timothv. $2.50® 8; No. j 2 timothv. $71,7.50. —lnspections—- ; Wheat No. 2 red. 3 errs: No 3 hard. 1 car; No 2 mixen. 1 err Tn‘e.l. Corn No. 3 white. 1 car: No. 4 white. 1 car: No. 2 vellov. 1 car: No. 3 vellow. 7 cars: No 4 vellov. 8 cars; No. 5 vello ’. 1 car; No. 3 mixed. 2 cars: No. 5 mixed. 2 rars. Total. 23 cars. Oats No. 2 white. 3 cars: No 3 white. 4 cars. No. 4 white. 2 car'. Total. 9 cars. INDIANAPOLIS WAGON WHEAT City erain eleva'ors are paving 73 cer s for No. 2 soft red wheat. Other grades on their merits. STORE CAROLERS GIVE CHRISTMAS PROGRAMS Ayres Singers Open Series; to Be Heard Daily. The L. S. Ayres & Cos. caroleri, an employes' organization of thirtytwo mixed voices, opened their tenth season yesterday afternoon on the mezzanine floor of the store. Programs will be given daily at 4 p. m. through Saturday. Members of the chorus are Marjorie Alexander. Ada Bradley, Lo!;i Malley, Dixie Tooie. Louise White, Daisy Saunders, Rose Schwimmer, Vera Sudbrock, Ruth Robinson, Georgia Tracey, Adria Trotter, Lro Priest Miller, Theresa La Master, Aliys Foster, Alberta Faulstick, Margaret Hamilton, Esther Beatty, Marjorie Murphy, Clara Otting, Ruth Bragg, Betty Williamson, Mary Morse, Ruth Ort’.e, Smith, Delta Sayers, Amv C. Hoffman. Blanche Owens, Margaret Hawn, Mildred White, Bertha Faulstick' Betty Mills and Josephine Richey. SPEEDY ACTION URGED IN MINE STRIKE CASE Committee Tells National Labor Board Thorough Inquiry Needed. By United Per** WASHINGTON, Dec. 21.—Immediate action to settle the status of miners who went cn strike, and a mere thorough investigation of aleged labor abuses in the anthracite fields, were recommended to the national labor board by a committee assigned to collect information regarding anthracite strike disturbances of reqent months. The report of the fact finding committee, released for publication today, presented a picture of wk% distress in the anthracite region and the possibility of turbulent times ahead unless some degree of stability is restored to present chaotic conditions. ★ ★ ★ ★ ★ INTEREST PAID on Savings Accounts Bankers Trust Cos.

Llppmann

_DEC. 21, 1933