Indianapolis Times, Volume 45, Number 206, Indianapolis, Marion County, 6 January 1934 — Page 14

PGAE 14

New Year Seen as Open Season for Debunking Activities: Jones Takes a Shot at Price Indexes. BY RALPH lIENDERSHOT Time* Special Financial Editor

Indications are that the r.ew year will present a full twelve months of open season for debunking' operations. President Roosevelt fired the first shot as soon as he took office last March by calling the bankers money changers, and the shooting has been going on ever since at a gradually accelerated pace While those who have been used as targets have not enjoyed themselves especially, the practice would seem to be bringing good results. The college professors were elevated to chief gunners on the early debunking parties as a result of having been selected to man t'nc President's brain trust. The still occupy a prominent position, but o f late they ha"e been drawing some return fire. It seems that some of those who were not

invited to the parties have been inclined to throw stones through the windows. president Roosevelt has been depending to an important degree on Professor Warren of Cornell to carry out his gold-buying program. The professor, it had been working for years to fit himself for just such a job. Professor Irving Fisher of Yale has been consulted a great deal, his chief contribution being nis commodity price index figures. Nicholas Murray Butler of Columbia has given his moral and vocal support to the general idea. B B B Sees Faulty Economic Foundations But now one of Mr. Butler’s associates, Bassett Jones, research associate in industrial engineering at the university, comes along and says that Professors Fisher and Warren have built their theories and contentions on economic foundations which are faulty, to say the least. He feels sc strongly on the subject that he has written a booklet—“ Horses and Apples”

Ralph Hendershot

—which seeks to tear down all figures and computations which are advanced as measuring sticks of prices and values in the aggregate. Mr. Jones has been sponsored in economic society by none other than Stuart Chase, who described his book, “Debt and Production,’ as a “greater contribution than any single individual has made to economics lor a long time.” A hurried reading of his latest offering would indicate that he might have something to sell if he w r ere to put it over properly. 11“ uses simple English, but he employs it in such a complicated fashion that the average layman is not likely to read all that he has to say. a a a a a a Can’t Add Horses and Apples The chief point made by Mr. Jones is that one can not add horses and apples or strike an average price for them. He w’ould seem to be on perfectly safe ground in making the assertion, and it may be that he has struck at a very fundamental weaknessgin the entire system of setting up price indexes. But the average mem might very well feel that things are happening far too rapidly in this country to devote much time to study such passages as the following: “Since the per cent production of horses is found by dividing one number of horses into another number of horses, and similarly for the per cent reduction of apples, the arithmetic mean of these two amounts to one-half the sum of two products of horses and apples divided by the sum of horses and apples. “However, let us assume that the value added to horses during the base year is $25,000 and apples $15,000. The total value added during the base year is the sum of these two, etc., etc.” Why wouldn’t it be a good idea to shut about fifty prominent economists into a room, as they do a jury, and leave them there until they had arrived at a commcn agreement as to what it is all about, and then let one of their number speak for the group to a competent newspaper man who would interpret their findings? The savings on the readers’ time and paper, ink and printing facilities should appeal even to the economists.

New York Stocks 'Bv Abbott. Hoppln & Cos. i ————————

—Jan. 5. Prev. l Oils— High. Low. Close, close. Amerada 43% 42' 2 42% 42 An Rig 2a 28* a 29 >2 28% Barnsdall is 7% 7% 8 Consol Cil 10'a 10 10 10% Cone ol Del .. 174s 16% 16% 17 Houston i new 1 3% 3-’e 3 s 3% Houston loldi .. .. 21% Min Lout Pet 12 1111% 11% Ohio Oil 13’* 12% 12% 13*a Pel Corp ....... 9% 9 9 9'b Phillips Pet . lb 15% 15% 15*,a Pure Oil ... 11 1 8 10 3 a 10% 11 Royal Dutch ...... 37V 3? Sod OU 27% 26% 26% 26 r, 8 Mid Steel ... 12’a 13 Snell Un 8% 8% 8% B’a Simms Pet 9% Shelley Oil . .. 8% B’* B’* ... Sic \ac 15% la% 10/2 Ib'ii S O 01 Cal .. .. 40 39% 39% 39 a S o o* Kan . .. . 37‘a 3i 1 * SOOI N J 45 44% 44% 45 Sun Oil 52% 52% * ..*) .... 24’* 23% 23% 24’a Tide a: or Assn BJ*8 J * B*a 8 3 8% - XJ.I Oli of cal . la 18-8 18 a Id a Aia-imT Mills. 18'a 17% 17% 13% Be. 1 Steei 30% 35% 35% 3b Byers A *4 23 22 a 22‘a 22% COl * uel *2 Iron . . 4 4 Cyuc Steel ... ... 22 22 Inland si ei 41 Ludium Sleel lb 3 a 16 16 lo'a McKeesport Tin. .. ... ... Bb% Natl Siecl .... 51% oO 50 51 Rep 1 dc Stl . . lb-a lb 1 a lb% ... Rep 1 & Stl ptd 40 U S Smelt 103% 99 99% 10*% Vanadium 22% 21 21 21% V S Pipe & Fdv 18% 18 18 18 U S Steel ..... 47% 4b 4b% 47% U S' Steel pfd 89 88% Youngstr. S & T 23 22 22 22% Atcnison 56 54% 54’a 55% Ail Cst Line 40% 4040 41 B& O 23% 22% 22% 23% Can Pac 14 J a 13% 14 13 •* C.i *Y Ohio 40% 39% 3 J 40 C.i esc Ut V, ••• 3 C M At St P pfd V% 7 7. ,i 3 8 Clii N W .. . 7 t> 7 a b'a t Cm R lsl 3% 3 3*a - 8 Dele, esc Hud. .. 54‘a 53 53 54 Ene 14% 14% 14% I*% Qr. Normern .. 20 18% 18% 19% 111 Central 30% 29 29 29-** K C Sou ■ • 11% Lou & Nash... 40% 40 49 48% M K & T 8 --a., Mo Pac „ •*;, •••_ J% Mo Pac ptd.... 4% 4_a 4% 4 a N Y Cent 32 * 31% 31% 33 a H Y Ch & St L p ••• 17 2 N Y New Haven 15 14% 14% 10% N Y Ont A; Wes 8 Norfolk & Wes .. ... 161 161 a Nor Pac 22% 21% 21% 22% Pmn R R ... . 30% 29% 29% 30 Sou Pac 19% 18% 18% 19% feu ft l R R ptd 28% 28% 28% 29% Dll ion Pac ...111% 110% 110% 111 Wabash 2% 2% *% 2 2 Wcst 4 Mfirv 8 4 9 Auourn 54 50% 50% 53% Chrysler 58% 55 * aa * 5. a Gen Motors . ... 35 34 3 a 34 a 34 3 Hudson 14% 13 8 13 ■! 14 a | Hupp 4% 4% 4% 4% Mack Truck . 37 36 3b 3b * Nash 24 3 23% 23% 24 Packard 4% 4 4 3 a R? 0 3% ... • ■ 3 a Siudebaker .5 4 3 * 4 5 Yeilow Truck . 4% 4 * p . ilo.or Acre,.ISfir 31% 1% 1% Brings 12% 12% 1“ l* 2 Buna W! -eel 3% 3% 3 2 3 • Eaton MIC .... ■ ■ 13% 13 a Ec: Auto Lite . 19% 18% 18% 19% Boud A 3 7 a 3% 3 3_a Muilins Mlg ••• 8* 1 Murray Boay .. 6% b% *>% 6;* Stew W'arncr ••• 6% 29 a Timken Rol ... 30% 29% 29% Alaska" a"u"n .. 23 21% 21% 23% Am Smelt 44% 42% 42 a 4a Anaconda .. 14 5 e 14 14 14 4 Cal vc Hecla 4 % 4 % Cerro De Pasco 35% 33% 33% 3b Granbv 8% 8% 8% 9 Gt Nor Ore 12% 11% 11% 11 % Homestake Min. .. ... ■ 326 Howe Sound ... 3i% 36 3b% 38 Ins Copper 4% 4% Int Nicael 21 % 21% 21% 1% Kennecott Cop 20’* 19% 19% 20% Miami Co.p 34 3 * 34 34 ... Norar.da Cop •• 33% Phelps Dodge . 17 16V, lbs* 1> Pitts Coal 10 Tobaccos — Am Sr.utl 49 48% 48% 49% Am Sum Tob . 15% 15% 15% ... Am Tob (As.-.. 67 66% 66% 61 Am Tob B* 69 68% 68% 68% Cans Cigar .... 29 28% 28% Oen Cigar ■ • 28% In: A: Myers *B* 78 76% 76% .8 Lorrillard 16% 16 16% 16% Reynolds T Bi. 43 43 44% Equipments— A '.lie Chalmers.. 17% 17 17 1.% Am Car cc Fdv 24% 24% 24% 24% Arncr Loco 27% 26% 26% 2i Am Mach & Fdv 13% 13 Am Steel Fdv.. 20 19% 19% 19% Bald Loco 11% 11% 11% 11% Burroughs 15% 15% 15% 15% Cue J 1 68 65% 65% 67% C iter Tract .... 24% 24 24% 23% C.’.gat Palm Pt . 9% 9% 9% 9% . Congoleum 24% 23% 23% 23% ; E.ec tor Bat.. .. ... 45% Fas.e: Wheeler.. 13% 13% Gen Am Tk C‘ar 35 33% 34 34% Gen Elec 19% 18% 18% 19% Gen .v R Sig 33% 33 33 33% Ingoi Rand 60 60% Ini Bus ach ...143% 142% 143% 141 Int Harvester... 39% 38% 38% 39% Kelvlnator 12% 11% 11% 12% Natl Cash Reg 17% 17 17% 17% Proc At Gamble. 38 37% 37% 3i% Pullman Inc 52% 51% 51% 52% Simmons Bed 18 3 17% 17% 17% | Und E.liot 37 36 36 Wert Air B 27 26% 27 27% VeM.rngh Elec 37 36% 36% 37% Worthingrn Pmp ... 21 22% I tiittiefr— Am & For Pwr . 8% 7% 7% 8% Am Pv.r A* Lit.. 6% 5% 6 6% AT&T .110 111 3 * 109 108% Am Wat Wks... 97% 17 17 17% Brook Un Gas . 61% Col Gas At Elec 11% 11% 11% 11% Col G E pfd. 52% 52 52 53% Com * Son 2 1% 1% 2 1 Consol Gas .. 37% 36% 36% 36% dec Pwr * Lit 4% 4% 4% 4% E P & L pfd 8% 8% Int T & T 15% 14% 14% 15% Eou a & E 'A' t 16 Nat Pwr A: Lit 9 8% 8% 8% i North Amer . . 1% 13% 13% 13% I Pac G At E 16 15% 16 15%

Wall Street

Pub Serv N J... 35% 34% 35 34 So Cal Edison.. 16 15% 15*4 15V Std Gas 7 6’, 7 7 Std Gas pfd ... 7*2 7*2 United Corp .... 4% 4*2 4% 4% Un Gas Imp. .. 14% 14% 14% IL% Ut Pwr /t Lit A' 2% 2*, 2 5 , 2% Western Union 56 53% 54* 2 54% Rubbers— Firestone ...... 19 18% 18’, 18% Goodrich 13% 12% 12% 13% Goodyear 35* 4 33% 33% 35% U S Rubber 16‘, 14% 15 15% U S Rub pfd 26 25*2 25% 25*2 Kel. Spring .... 2% 2% 2% ... Amusements— Croslev Radio 8% ... Fox Thea 12*4 13% Loews Inc 27' 2 26 26 27*2 Radio Corp 6% 6% 6% 6% RKO 2% 2*2 Warner Bros ... 5*4 5 5 SV, Foods— Am Sugar ... ... 47 Armour -A' 4*, 4% 4% 4% Beatrice Creamy 11 Borden Prod ... 20*2 20% 20% 20% Cal Packing ... ... 18% Can Drv G Ale 24*2 24% 24% 25*4 Coca Cola 96 96*4 Corn Prod 74*4 74% 74V, 74 orm of Wheat.. 28'4 28 28 28% Gen Foods 34*4 34 34 34 Go.d Dust 17 s , 17*4 17% 17*4 G W Sugar.. 29 28% 28*2 28*2 Int Salt 21 Loose Wiies .... 41 40*2 41 Natl Biscuit .. 47*2 46% 47% 46% Natl D Prod 13% 13% 13% 13*a Purity Bak 13* 4 13% S Porto Rico Sug 33% 33*2 33% Std Brands ... 21% 20% 20% 21*4 United Fruit 59*2 59 59 59*2 Ward Bak 'A'... 6% 6% 6% .. Wrtgley 55% 55 55% 55 Retail Stores— Asso Drv Goods lIV2 11% Gimbel Bros ... ... 4*2 Hahn DeDt Strs 5*4 5*4 Kresge S S 14% 14 14 14% Kroger Gros 23% 24 Macy R H . . . 53*4 52 1 a 52*, 52% May Dept St 32 31 31% 30% Mont Ward . 22% 21% 21% 21 1 a Penny J C . ... 53% 52% 52% 52% Safeway St . 45 44 44 45 Sears Roebuck 42 41% 41% 41’, Woolworth ... 42% 42 42% 42% Aviation— Aviation Corp .. 8% 7*4 7’, 7% Douglass Air ... 16’, 15 15% 14% Curtiss Wright. 2% 2% 7*4 2% Curtiss Wright A 6% 5*4 5% s*, Nor Am Av . ... 5% 5 5*4 4’, United Aircraft 32 30% 31% 31% Chemicals— Air Reduction 98% 97*2 97% 98% Allied Chem . .148*2 146 146 148 Am Con A1 54*2 52*4 52% 54 Col Carbon 58% 58*4 58% 61 Com Solvents ...31% 30*2 30% 31*2 Dupont 94 91% 92 93 Freeport Tex 44*4 44 44 44*4 Liquid Carb ... 27', 27', Math Alkali 34 33 33% 33% Tex Gulf Sulph 40% 39%335,9 5 ,40 Union Carbide 46’ 2 45*2 45* 2 46% U S Ind A1 55 54', 54', 55% Natl Dist (New/ 25% 24*4 24% 25% Drues— Cotv Inc ... 4 Lambert 22*4 Lehn & Fink ... 17% Zonite Prod ... '6% Financial— Adams Exp 7 6% 6% 7 Allegheny Corp 3*4 3% Chesa Corp 34 % Transatnerica. .. 7% 6% 6*4 7 Tr Conti Corp 4% 4% 4% 4% Building— Am Radiator . 14*, 14', 14', 14% Gen Asphalt.... 16 15% 15 s , 15% Int Cement 30 29% Johns Manville.. 59*2 57% 57% 59 Libby Owens G. 36% 35% 35% 36', Otis Elev 15% 15*4 15'* 15% Ulen Const 2* 2 2% 2% Miscellaneous— Am Bank Note . 14% 14*2 14% 15% Amer Can 95% 94*, 94% 95*, Anchor Cap 19 18% 18*2 18% Brklvn Man Tr . 32*2 32 32 32% Conti Car. 76% 75*2 75% 76 Eastman Kodak 80% 80 80 80% Owens Bottle 80 Gillette 9*4 9 9 gy, Glidden 16 15% 15*4 16 Gotham Silk ... 7% indus Ravor. 77% 79% Inter .Rapid Tr. . 12*2 12 12 12 New York Curb IBv Abbott. Hoppin & Cos.) —Jan. 5 Close. Close Allied Mi 115.... 8 Gulf Oil of Pa 69% Alum Cos of Am 72% Hiram Walker. 33% Am Beverage . I*, Hud Bav Min 9 Am Cvanide B. 15% Humble Oil , . 33’, Am & Fcr Pw W 5*2 Imperial Oil Ltd 13*4 Am Gas & El 19', Ir.: Petrel 20% Am SuDerpower 2% take Shore Min 46*2 Atlas Coro 10% Libbv McNn Lib 3 Axtn Fisher Tob 63 Lone Star Gas 6 Brit Am Tb A 29 Massev Harris 4% Can Ir.d Ale A IP’s Mt Producers 4% Can Marc 2% Natl Bellas Hess 2 Carrier Corp.. 6% Newmont Min 51 Cities Sen 2', Nia Hud Pwr s', Commons- Ed 37*, Novadel Agene . 59% Consol Gos Bit 53 D an Am Airwavs 49 Cord Corn . 6% Psrk Davis .. 22% Creole Petrol I*', pnn Road 2% Crown Ck Inti 6% St Regis Pacer 2% Deere & Cos. 27 Sal Creek Prodts 6*2 Distillers Lim 21% Rherwin Wins. 48 Distillers Coro 27% std of Ind 32 El Bdl & Sh... 11 std of Kv 15', F-.sk Rubber 9', Stutz Mts 4 Ford of Car. A 15% Teck Hughes Gd 6 Ford of Europe 5% Un Gas 4% Ot Atl J- Pac 12*.-Un P * L A 2% Glen Alden Coal 11*4 Wright Harg M 7 Marriage Licenses Edmund A. Murray, 26. Sevmour. farmer, and Verna Hazard 25. of 725 North Grant street, teacher Grova Ilick. 38. of 1635 Riverside drive, machine opera'or. and Anna Sekula. 20. of 772 North Wtrman avenue, waitress. Robert Tavlor. 32. of 1274 West Twenty sixth street truck driver, and Frances Kaser 19 vo! 49 South Warman avenue housekeeper. M Lawrence Boiling. 27 of 1801 Arrowavenue laborer and Vivian Murray. 17. of 542 South Drover street, hou ekeeper. Joseph Troutman. 24. of 3S2i Wood street, cauiter. and Bernice Harvev, 17. of 1717 Ingram street, housekeeper. George Burton. 23. of 1564% Columbia avenue, laborer, and Lizzie Foden. 46 of 1564'j Columbia avenue, hair dresser Ora Hall. 25 of 1542 Shepard street, laborer, and Dorothv Anderson. 19. of 5362 North Illinois street maid William C. Coleman 25. of 631 Division street, clerk, and Margaret Steelman. 19. of 603 Holly avenue, housekeeper. l ,

UNEVEN ACTION MARKS DEALS IN SECURITIES Majority of Issues Down 1 to 2 Points: MotorShares Active.

Average Stock Prices

Average of thirty industrials for Thursday: High 99 13, low 96.48. close 98.78. ofT .31. Average of twenty rails 40 60. 39.73. 4040. off 14 Average of twenty utilities: 22.47. 22 01. 22.58. off .10. Average of forty bonds: 84.75. off 22 Average of ten first rails: 90.92. off .64. Average of ten second rails: 70.60. up 01. Average of ten utilities: 91.61. off 06 Average of ten industrials: 85 37. off 20. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Jan. 6.—Buying in General Motors and selling in Chrysler furnished the only relief to an otherwise dull stock market session yesterday. Chrysler easily led all stocks in volume of turonver, making up about one-tenth of all business done, while General Motors was second in activity. The two motor shares and International Telephone made up 24 per cent of all the transactions on the exchange. Airplane issues, notably United States Aircraft, CurtissWright and Douglas Aircraft had a spell of activity. New York Central and Canadian Pacific were relatively active in the rails. Mining List Weak Silver issues were depressed rather sharply late in the day, with U. S. Smelting down more than 4 points and American Smelting more than 2. Cerro De Pasco also was sharply lower. Losses of 1 to 2 points were noted in such issues as U. S. Steel, American Telephone, American Can, Allied Chemical, Du J’ont, Commercial Solvents, Westinghouse Electric, Pullman, and New’ York Central. Electric Auto-Lite preferred broke 6 points to 80, while Bucyrus Erie preferred spurted 9 3 i to 64, these issues representing the extremes in the inactive shares. There were a few issues able to move up against the downtrend. National Biscuit was one of them. A few’ others included Commercial Credit and National Aviation Corporation made new tops for the year. Sales Volume Drops The feature of the day w r as the heavy selling in Chrysler. It came out in long strings at steadily declining prices. Its loss was more than 2 points. General Motors came out in large blocks holding a small gain. Stock sales yesterday were 1,050,000 shares as against 1,190,000 shares Thursday. Curb sales yesterday were 167,000 shares as against 202,000 shares Thursday. Dow Jones preliminary averages showed industrial 97.23, off 1.55; railroad 39.85, off 0.55; utility 22.48, off 0.10.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. s—Clearings $1,935,000.00 Debits 6,474.000.00 TREASURY STATEMENT —Jan. 5 Net balance for Jan. 3 $940,245,370.77 Misc. int, rev. repts 5.668.567.76 Customs repts. mo. to date.. 2,537,467.18

Foreign Exchange

ißy Abbott, Hoppin & Cos.) —Jan. 5 Close. Sterling. England *....55.10 Franc. France 0614 Lira. Italy 0825 Belgias. Belgium 2178 Mark. Germany 3730 Guilder. Holland $ 6295 Peseta. Spain 1292 Krone. Norway 2563 Krone, Denmark 2275

Investment Trust Shares

(By Abbott, Hoppin & Cos.) —Jan. o Bid. Ask. American Bank Stocks Corp.. .73 83 American & General Sec A.. 4.50 5.50 American & Inv Tr Sh 1.50 250 Basic Industry Shares 3.23 3.33 British Type Inv Tr Sh 42 .50 Collateral Trustee Shares A.. 4.50 462 Corporate Trust Shares (old) 1.98 2.02 Corporate Trust Shares (new) 2.24 2.27 Cumulative Trust Shares 3.90 .... Diversified Trust Shares A... 6.25 Diversified Trust Shares 8... 7.30 750 Diversified Trust Shares C... 2.95 299 Diversifield Trust Shares D... 4.65 4.75 First Insurance Stock Corp... 1.30 1.35 First Common Stock Corp ... .83 .98 Fixed Trust Oil Shares A 8.25 8.37 Fixed Trust Oil Shares B 7.12 7.25 Incorporators Investments.... 17.39 18.89 Land Bank Bond Shares 92 1.02 Low Priced Shares 5.50 Mass Inv Trust Shares 17.50 19.01 Nation Wide Securities 3.10 3.15 North Amer Trust Shares (53) 1.78 .... North Amer Trust Shares issi 2.25 2.30 North Amer Trust Shares (58) 2.37 2.55 Selected American Shares ... 2.50 .... Select-’d Cumulative Shares. . 6.49 .... Selected Income Shares 3.33 3.75 Std American Trust Shares A 2.82 Trust Shares of America .... 2.50 300 Trustee Std Oil A 5.22 530 Trustee Std Oil B 4.87 500 U S Electric Lt A: Pwr A 9.87 10.37 Universal Trust SharesN 2.95 3.02

Federal Farm Loan Bonds

/By Blyth & Cos.. Inc.) —J an. s—- . Bid. Ask. 4s Nov. 1. 1957-37 83 84% 4s Mar 1. ISSS-38 83 84% 4%S July 1. 1956-36 84% 85% 4%s Jan. 1. 1957-37 84*4 85% 4*4s May 1. 1957-37 84*4 85% 4%s Nov. 1. 1958-38 84% 85*2 4'2s Mav 1. 1942-32 89% 90*2 4%s Jan. 1. 1943-33 89*4 90% 4%S Jan. 1. 1953-33 87 88% 4%s Julv 1. 1933-33 87 88‘ 4 4%s Jan. 1, 1955-35 87 83*4 4%s Julv 1. 1955-35 87 88'* 4%s Jan. 1. 1956-33 87 88*4 4%s July 1. 1953-33 89'* 90% 4%s Jan. 1. 1954-34 89% 90*2 4%S Julv 1 1954-34 89*4 90% 5s Mav 1. 1941-31 9.5*2 96% 5s Nov. 1. 1941-31 95*2 96*4 Home Loan 4s. July 1. 1951... 86*2 87*2

U. S. Government Bonds

Bn United Prt ss NEW YORK. Jan. s.—Closing Liberty bonds: /Decimals represent thirty-seconds.) —Liberty—--3%s (32-47) 100.14 First 4%S (32-47/ 101.15 Fourth 4%s 33-38 ■ 101.26 Fourth 4%s (33-34' called 101.26 —Treasury—--4%S /47-52 1 . . . 106 27 4%s 3%s (43-45' 99 4 4s '44-54' 103 23 3%S (46-56( 101.28 3%s 43-47' % 99 19 3%s 41-43> March 99.18 3%s -40-43) June 99 22 3%s 11 / 98 31 3',;. • 46-49' 96 23 3s 'sl-55' 95.8 NEW YORK RAW SUGAR FUTURES —Jan. 5 High. Low. Close January 1.18 1.15 1.15 March 1.28 1 24 1.24 May 1.34 1.30 1.31 Julv 1.38 1.35 1,36 September 1.44 1.40 1.40 December ... 1 45

THE INDIANAPOLIS TIMES

Bright Spots

Bv United Press F. W Woolworth Company reports December sales of $36,995,608. up 11.7 per cent from December last year. Plymouth Cordage Company increased its quarterly dividend payment from sl.lß to 51.25 a share. Pitney-Bowes Postage Meter Company declares dividend of 5 cents a share, first payment since October, 1932. Collins and Aikman Corporation earns net-profit for nine months ended Nov. 25 of 5847.159, against net loss of §579,240 in like 1932 period. Creamery Package Manufacturing Company declares special dividend of 25 cents a share on common stock.

Produce Markets

Delivered in Indianapolis prices—Hens. lOVac: Leghorn hens. 7%c; heavy springers over 5 lbs., 11c; under 5 lbs., 9c; Leghorn springers. 7c: cocks. 5 lbs. and up. sc; under o lbs., 4c; ducks. 4% libs, 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, lie: No. 1 young toms. 12 to 20 lbs., 13c; No. 1 young toms over 20 lbs., 13c; old toms. 10c; No. 2 thin crooked breasted. 6c; young guineas. 1% to 3 lbs.. 3oc; old guineas. 25c; No. 1 strictly fresh country run eggs loss off. 18c: each full egg case must weigh 55 lbs. gross; a deducction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1. 20®26c; No. 2. 22@23c. Butterfat—llc. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Jan. s.—Eggs—Market firm; receipts. 4,411; extra firsts. 22c; fresh graded firsts, 21c; dirties. 12@ 15c; current receipts, 19*/ 2 c; checks, 12015 c. But-ter-Market steady; receipts, 7,478; storage extras (92 score), 17'/<c; storage standards (90 score), 17 %c; extra firsts (90-9>/ 2 score), 16 3 4C; extras (92 score), 17%c; firsts (88-89 1 i score), 16*4®16%c; seconds ('B6-87*2 score), 15%c; standards <9O score), 17%c; specials. 17*2(318*40. Poultry —Market firm; receipts, 28 trucks and 1 car; turkeys, 15c; hens, lie; Leghorn chicks, 10c; colored springs, 13c; colored Rocks, 14c; roosters, 8c; ducks, 9@lic; geese. l(U' 2 c; black chicks. 8c; Plymouth Rocks, re%ol3c; white Rocks, 12%c. Cheese—Twins, 9*/ 2 @loc; Longhorns, 10® 10'ic; S. Daisies. 10010'ic. Potatoes— Supplies moderate; demand and trading fairly good; market slightly stronger; Wisconsin whites U. S. No. 1. $1.55®1.65; mostly around 51.00(771.65; Minnesota Red River Ohios, U. S. No. 1, 1 car. $1.75; partly graded. $1.30® 1.33; Idaho Russets, u. S. No. 1. open mug pack. $1.77%® 1.85; closed mug pack. $1.72(771.77* 2 ; Colorado McClures U. S. No. 1. sl.Bo® 1.85. NEW YORK, Jan. 5. —Potatoes—Firm; Long Island, $1.3001.15 per bbl.; southern bag, $1.45® 1.50 per bbl.; Maine, s3® 3.75 per bbl.; Idaho. $1.9002.20 per sack; Bermuda, $6.5007.50 per bbl.; Canada, $202.15 per bbl. Sweet potatoes—Firm; Jersey basket, 40c®51.50; southern basket, 85c@$l. Flour—Dull but firm; springs: patents, $6.40® 6.55 per sack. Pork— Steady; mess, sl7 per bbl. Lard—Dull; middle west spot, $5.3505.45 per 100 lbs. Dressed poultry—Steady; turkeys. 15®25c; chickens. 9@23c; broilers. 13®25c; cations, 17@31c; fowls, 9® 13c: ducks. ll@14c; Long Island ducks, 15' i @ 16c. Live poultry —Dull; gee>e, 9®l4c; turkeys. 17022 c: roosters. 9® 10c: ducks. 9@l4c; fowls, 12® 16c; chickens. 12®16c; capons, 16®24c; broilers, 22c. Cheese—Dull; state whole milk flats. 1933, 15017%c; Young America, 11®11*2C. Butter—Receipts, 9.297 packages; market, barely steady; creamery higher than extras. 18%@19' 4 c; extra, 92 score, 18®18* 4 c; first, 90 to 91 score, 17%0,18c; first, 88 to 89 score. 16%@17>/4C; seconds, 15® 16c; centralized, 90 score, 17 3 4C; centralized 88 to 89 score, 16%® 17*40; centralized, 84 to 87 score. 15® 16c; ladles current make, extras, 14* 2 c; firsts, 13®13* 2 c. Eggs—Receipts. 11.526 cases; market, firm; special packs, including unusual hennery selections. 24®25c; standards, 23c; firsts, 21c; mediums, 18c; dirties, 18%c; checks, 15015%c. CLEVELAND, Jan. s.—Butter market— Steady; extras 21c; standards 21c per lb. in tubs. Eggs—Market steady; extra white, 21c s current receipts, 18c; fresh pullets. 15c. Poultry market—Firm; colored fowl. 4* 2 lbs. and up. 16c; colored fowl, medium, 14@15c;.Leghorn fowl, light, 10c: springers. Rock, 5 lbs. and up. 16c; Springers, colored, 4 lbs. and up. 14c; springers, Leghorn. 12c; ducks, white. 5 lbs. and up. 15@16c; ducks, light. 12c; Geese, heavy, fat. 15c; ordinary, 13c; old roosters. 9c. Potatoes (all quotes based on U. S. No. 1 and 100 lb. sacks)—Maine cobblers and Green Mountains, best, $2.25; very few $2.35; fair stock low r er; Idaho russet Burbanks. $202.15; partly graded $1.90; New York best, sl.lO a bushel; Michigan. $1.65® 1.75; Louisiana bliss triumphs. 51.65(7? 1.75 a 50-ib. sack; Texas. [email protected] a 50-lb. sack; Colorado brown beauties. [email protected]; Indiana. $1.75®1.85. Other Livestock BY UNITED PRESS CHICAGO, Jan. s.—Hogs Receiflts, 28.000, including 16,000 direct; holdwer, 3,000; active, generally 10®25c higher than yesterday's averages; bulk 170-300 lbs., $3.5003.75; top. $3.75; most light lights, $3.25®3.50; pigs, $2.50®3; packing sows. $2.60®2.90. Light lights, 140-160 lbs., good and choice, [email protected]; light weight. 160200 lbs., good and choice, $3.4503.75; medium weights, 200-250 lbs., good and choice, $3.5003.75; heavy weights, 250-350 lbs., good and choice, [email protected]; packing sows, 275-550 lbs., medium and choice. $2.50@3; slaughter pigs. 100-130 lbs., good and choice. $2.5003.15. Cattle—Receipts. 1,000; calves, 1,000; fully steady market on all grades and classes; very little beef in run; hardly enough good and choice steers here to make a market; top $6.25 on choice approximately 1,200 lb. averages; bulk common to medium steers selling at $3.25® 5; active trade on cutter cows at $2.50 downward to $1.75; mostly $202.50; vealers $4,500)5.50; Stocker trade nominal. Slaughter cattle and vealers— Steers. 550-900 lbs., good and choice. $5.50®7; 900-1,100 lbs., good and choice. $5,250:7; 1.100-1,300 lbs., good and choice. $506.75: 1,300-1.500 lbs., good and choice. $406.25; 550-1.300 lbs.. common and medium, s3® 5.25: heifers. 550-750 lbs., good and choice, $4.5006.50; common and medium, $3®4.50; cows, good, $2.75@4; common and medium, $2.50 0 2.75; low cutter and cutter, $1.5002.50; bulls yearlings excluded, good, beef, [email protected]; cutter common and medium, $2.5003 25; vealers. good and choice. $4.5006; medium $3.5004.50; cull and common, $2.50®3.50; Stocker and feeder cattle, steers. 550-1,050 lbs., good and choice. $3.7505; common and medium. $2.5003.75. Sheep—Receipts. 10.000; undertone strong to around 15c higher; bidding upward to $8 rather freely; best held about $8.25: sheep and clipped lambs also held unevenly higher; feeding lambs absent. Slaughter sheep and lambs—Lambs, 90 lbs. down, good and choice, $7.2508.15; common and medium, $5.250 5.50; 90-98 lbs., good and chaice, s7®B; ewes. 90-150 lbs., good and choice. $2 2503.85: all weights, common and_ medium, $1.5002.75; feeding lambs. 50-id lbs., good and choice. $6 0 6.65. LAFAYETTE. Jan. s.—Hog market. 5 to 25c higher: 170-225 lbs.. $3 5003.55; 225275 lbs.. $3.4003.45: 275-325 lbs., $3.25® 3-35; 140-170 lbs., $3 1003.35; 120-140 lbs.. $2 60g2.80; 100-120 lbs.. $1.9002 40’ roughs. 52.75 down. Top calves—ss.so; top lambs. $6.50. _ Ho N ? INNATI - Jan - 3-—Hogs—Receipts. 3 500 head, including 540 head direct and through; holdover. 310 head; market opened slow, now active, unevenly- 5® 15c higher; top and bulk 160-300 lbs.. $4; 230250 lbs.. $3.90: 250-275 lbs.. $3.80- 275-300 lbs., $3.70; 130-160 lbs., $3.2503.75; few A 2 ? 3: packing sows 25c higher at 52.d00 2.75. Cattle —Receipts. 400; calves, receipts. 250; mostly around steady; steers ana heifers, mainly at s4®s; few odd lots good handvweights upward to $5.50: low CMtters and cutters. $1.25®2.25; bulls, $2.5003.50- calves. 50c lower; good to choice, ss@6: plainer grades from $4.50 downward. Sheep—Receipts. 200: fully steady; some plainer frades of lambs strong; most fat lambs. $7.8508: throwouts mainlv 56.50 0 7.505 , 5 ,%6: at ewes. 5304; most fat lambs. 57.7508. TOLEDO. Jan. 6.—Hogs—Receipts. 175: ma 10c higher- heavy vorkers 53.8,i: mixed and bulk of sales. $3.50® 3.8a: pigs and lights. $2.250 3; medium and heavies. $3 0 3.60: roughs. $202.50 Ca.tle—Receipts, 100: market, strong: good $ 5 5006: fair to good S3 1? 3 2d. good to choice Stockers. $5i70.25. Calves—Receipts, light: market, strong and active. Sheep and lambs— Receipts, light; market, strong; lambs. o Jan - s —Hogs 2-PS?- no directs: uneven, steady to 10c higher, mostly steady with vesterdav's average: top. 53.43 on 170-210 'lbs • light lights. 140-160 lbs.. $2.75 0 3.40; ligntwelghts- 160-200 lbs., $3.1503.45: medium m-' Sh ta'inV 3 - ?°->- 3 4o: heavyweights. 250-350 * bs '. 53.1003.30: packing sows. $2.4002 90: I feeder and Stocker pigs. $1.500 2 25. catt.p Receipts. 500; calves. 100; srenerallv steady in a cleanup trade: killing quality Pu n -,-> s i£°- r i -„ gcoci and choice. 550-1 500 ■■506.50: common and. medium. $2 ,5 uo. heifers, good and choice. 550-900 lbs.. $4.500 6; cows. $2.15®3.25: vealers $3 36: Stockers and feeders. $4 50® 5. Sheep —Receipts 2.000: including 800 direct and through; iambs fully 10c higher: odd lots sheep sterdv; top fed lambs. $7.60

Daily Price Index

By United Press NEW YORK. Jan s.—Dun & Brads'r n et s dailv commodity price index of thirty commodities compiled for the Lr.ited Press (1930-1932 Average. 100) Todav 101.74 Yesterdav 101 49 Week ago 100 59 Month ago 100.33 Year ago 70 92 1933-1934 high Julv 18' 113 52 1933-1934 Low ijan. 18' 67.86 Copyright. 1934. by Dun & Bradstreet. Inc.

PORKER PRICES RISE 10 CENTS AT CITY YARDS Cattle Scarce and Steady; Veals Unchanged at $6.50 Down. An advance of 10 cents over Thursday's average featured hog ! trading at the local stockyards yesi terday. Early demand showed j strength and receipts held around ! normal. Action was displayed in practically all classes. The bulk, 160 to 275 pounds, sold for $3.60 to $3.75, while heaviest j grades scaling 275 pounds and up ' were salable at $3.40 to $3.55. Choice 1 weights from 130 to 160 pounds brought $3.10 to $3.50. Light j slaughter pigs weighing 100 to 130 pounds sold at $2 to $2.65. Receipts were estimated at 6,000. Holdovers numbered 1,477. With hardly enough steers on hand to test market conditions, practically all classes of cattle showed little change from the previous session. An odd head of steers held up to $5.50. She stock were mostly unchanged. Receipts were 500. Vealers resumed a steady trading range, salable at $6.50 down. Receipts were 600. With only slight action evident during the early session, lambs remained fully stationary. Few initial sales were quoted at $8 down. Some choice grades held fractionally higher. Receipts 2.000. Sales on hogs at Chicago were mostly 10 cents higher than Thursday’s average. Initial trade was active and undertone strong. The bulk of good to choice kinds weighing 170 to 180 pounds, sold at $3.50 to $3.60. Early top held at $3.60. Receipts were estimated at 28,000; including 13,000 direct; holdovers, 3,000. Cattle receipts numbered 1,000; calves, 1.000; market, steady to strong. Sheep receipts were 10,000; market, fully steady. HOGS Dec- n ßulk Top Receipts 29. $3.20® 3.35 $3.35 9 000 30. 3.350 3.50 3.60 12.000 Jan. 2. 3.350 3.60 3.60 12 000 1 3. 3.50® 3.65 3.65 9 000 4. 3.500 3 65 3.65 9 000 5. 3.60® 3.75 3.75 6,000 Market, higher. (140-160) Good and choice.. .$ 3.350 3.50 —Light Weights—-(l6o-180) Good and choice... 3.75 (180-200) Good and choice... 3.75 —Medium Weights—-(2oo-220) Good and choice.... 3.70 (220-250) Good and choice..,, 3.65® 3.70 —Heavy Weights—-(2so-290) Good and choice 3.55® 3 60 (290-350) Good and choice. ... 3.45® 3.55 —Packing Sows—(3so down - ) Good 2.75® 300 (350 up) Good 2.60® 285 (All *weights) medium 2.25® 2.60 —Slaughter Pigs—-(loo-130) Good and choice.... 2.00® 2.90 CATTLE Receipts, 500; market, steady. (1.050-1,100) Good and choice $ 5.25® 6 50 Common and medium 3.50® 5 25 (1.100-1.500> Good and choice 5.00® 6.50 Common and medium 3.750 5.00 (675-750) Good and choice 5.00® 625 Common and medium 3.00® 5.00 (750-900) Good and choice 4.500 6.00 I Common and medium 2.75® 4.50 —Cows— Good 2.50® 3.25 Common and medium 2.00® 2.50 Low cutter and medium I.oo® 2.00 —Bulls (yearlings excluded) Good (beef steers) 2 00® 2.75 Cutter, common and medium.. I.oo® 2.00 VEALERS Receipts, 600; market, steady. Good and choice $ 6.00® 6 50 Medium 3.500 6.00 Cull and common 1,50® 3.50 —Calves—-(2so-500) Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 , —Feeder and Stocker Cattle—' (500-800) Good and choice 5.75® 4.75 Common and medium 2.50® 3.75 (800-1,500) Good and choice 3.75® 4.75 Common and medium 2.50 0 3.75 SHEEP AND LAMBS Receipts, 2,000: market, steady. (90 lbs. down) Good & Choice $7.50® 8.00 (90-110 lbs.) Good and choice. 7.0007.75 (90 lbs. down) Com. and med.. 4.50® 7.00 —Ewes — Good and choice 2.00 0 3.00 Common and medium 1.00 0 2.00 Other Livestock BY UNITED PRESS EAST ST. LOUIS. 111.. Jan. s.—Hogs Receipts. 7.000; market fairly active: mostly 10c above yesterday's average; top. $3.85: bulk. 150-210 lbs.. [email protected]; 220280 lbs.. $3.60 0 3.75; 130-140 lbs.. s3® 3.25; 100-120 lbs.. $2.1502.75; sows mostly $2.5002.75. Cattle—Receipts, 800; calves, 800; market active and generally steady; vealers, 27c lower with top $5.75; steer sales largely $4.5005.50: top for load lot steers, $6. and one small lot choice yearlings, $6.25; mixed yearlings and heifers, $3.7505.25; cows, $2.2502.75; low cutters, $1.25® 1.50; top sausage bulls, $3 slaughter steers. 550-1.100 lbs., good and choice, $5.25 @6.50; common ana medium. [email protected]; 1.100-1,500 lbs., choice, $5.2506.25; good, $4.50@6; medium. $3.750 5.25. Sheep—Receipts. 800; market, hardly enough here to make a market; asking strong prices for the few offered; packers talking lower; indications steady on throwouts and sheep; lambs, 90 lbs. down, good and choice. s7@ 8; common and medium, [email protected]: lambs' 90-98 lbs., good and choice. $708: yearling wethers. 90-110 lbs., good and choice. $4.75 0 6.50; ewes. 90-150 lbs., good and choice. $1.750 3; all weights common and ! medium. $102.25. CLEVELAND. Jan. s.—Cattle—Receipts, 200; satisfactory market and prices, steady j at week's best prices; slightly higher for ! week; choice steers, sß® 6.50"; good 6001,000 lb. heifers. $4.2504.75; good cows, all weights, $2.50 03. Calves—Receipts, 300; trade active at unchanged prices; $1 lower for week; all of decline occurring I early in week; choice to prime, $6.5007; j choice to good, $606.50 Sheep—Receipts, ! 1.000; market, active and strong and up i 100 20c for week; choice wethers, $2.50® I 3.25: medium to good, $1.5002; choice 1 spring lambs. $7,508.10. Hogs—Receipts, 1.000; market, active and light, butchers and choice yorkers sold above $4 mark j for first time in recent weeks; heavy hogs 1 also active as result of higher provisions I 'market; prices up 20c on government grades and 25®40c higher on others; heavies, $3.50; light butchers. $4.10- choice yorkers, $4.10; pigs, $2.75. PITTSBURGH. Jan. 5 —Hogs—Receipts. 3.800; active on 160-220 lb. weights at $4.10 mainly, or 15c lower; other weights 25c off: sows, mostlv 10c lower: 260 lbs. up. $3.6503.75: 130-150 lbs., $3.50; 90-130 lbs., pigs. S3® 3.25; sows, largely $2 75® 2.85. Cattle —Receipts. 25; nominal. Calves—Receipts. 200: 25®75c lower- bulk vealers, $7 0 7.50; heavy calves, $6 down. Sheep—Receipts. 800: early sales fat lambs, j $8.2508.40; top, 15c higher than yester- ! day; medium kinds. s6®7; culls down to I $3; aged wethers, quotable up to 54.25; j choice shorn lambs. $6 50 07. FT. WAYNE. Jan. s.—Hogs—loc higher--160-200 lbs.. $3 60 : 200-250 lbs.. 53.50;' 250300 lbs.. $3.40: 300-350 lbs., $3 25; 150-160 lbs.. $3.20: 140-150 lbs.. $3.10: 130-140 lbs.. $3; 100-130 lbs.. $2.60; roughs. $2.50; stags. 51.50. Calves. $6; lambs. $7.50. By Times Special LOUISVILLE. Jan. s.—Cattle—Receipts. 150: mostly steady: bulk and common to medium steers and hetfers, $3.5014.50: better finished fed offerings eligible to $5.50 or better: bulk beef cows. s2® 2 50; practical top, 52.75; low cutters and cutters. $1.250 1.75: sausage buils, $3 down: common to medium native stockers and feeders, $2.500 3.50: well bred Hereford heifer Stock calves quotable $4.50. Calves i —Receipts. 250: calves. 250: steadv; bulk better vealers. $4.5005; medium and lower grades. $4 down. Hogs—Receipts. 800; weights from 130 lbs. down; steadv; ail others 5c higher: 160-250 lbs.. $3.90: 255 i lbs. up. $3 60: 130-155 lbs.. 53.55; 110-125 > lbs,. $2.75; 105 lbs. down, $2 sows. $2 60: i stags, SI SO Sheep—Receipts. 25. lambs fully 50c higher: bulk medium to good kinds, S6@6 50: choice eligible. $7 or better: bucks discounted $1: throwouts most- : ly $4; bulk desirable slaughter'ewes. $2. NEW YORK COFFEE FUTURES —Jan. 5 SANTOS High. Low. Close. January 8 89 March 9.19 9.10 9 10 May 9 32 9 26 9 27 •filly 9 46 9.40 9.40 September 9.79 9.73 9 73 December 9 95 9.84 9.84 RIO January ... 6 42 March 6 65 6 56 6 56 May 6 80 6.71 6.71 July 6 93 6 86 6.86 September 7.08 7.00 7.00 December 7.25 7.11 7.11

IMMUNIZATION HOLDS NO FEARS FOR HIM

5~.,< v-vs / W ■V- Jo* WmL W JaP" - ' : ip . n ' r J •fgj nxfi? I M JB'" '•' - "" |||i|i --.x. $ ... Hfl| -1 *i I-

CITIZEN-OWNED UTILITY PLANTS SHOW PROFIT Municipal Light and Power Plants in ’32 Made $212,542.10. Municipally owned utilities returned a net profit of $212,542.10 to Indiana towns where they operate and thus aided in keeping them from borrowing from working balances in 1932. This fact is set out in a report on town finances for that year made public by William P. Cosgrove, state examiner. It was prepared in his office by Albert E. Dickens, statistician. One hundred and forty-two civil towns operate waterworks, fiftythree electric plants and thirty both water and electric utilities, the report shows. In 1932, these utilities received $1,023,607.50 in operating revenues and disbursed $811,065.40 for operating and maintenance. Expenses Decrease In the total of 423 Indiana towns, the governmental cost for 1932 was $3,461,003.47, the report shows. This was $593,623.52 or 14.6 per cent less than was expended in 1931. Tax receipts were 26.4 per cent less, however, being the lowest since 1922. They decreased 21.4 per cent from the previous year and were $253,006.39 less than disbursements, necessitating inroads on working balances to make up the deficiency in revenue. School functions were maintained in but eighty of the incorporated towns at a cost of $2,104,915, which was a decrease of 21.9 per cent from the previous year. Total for both civil and school purposes was $5,656,918.54, making the cost for the 423 towns about onehalf the Indianapolis civil city expenditures for 1932. Population of the towns is 295,576, and that of Indianapolis, 364,161. Costs Compared Compilers of the data offered this comment: “These relative expenditures illustrate graphically the direct correlation existing between urbanization and governmsiital costs. With the concentration of a large population into a small area, governmental functions of necessity become complex and multitudinous, and hence public expenditures in large cities are many times as great as if the same population were diffused into smail nucleated groups. ‘iThat the towns, both civil and school, do not constitute an appreciable factor in the tax burden, may further be understood from the fact that the total tax receipts cf these towns for 1932-33 amounted only to 2.07 per. cent of the total taxes levied for all purposes for 1932.” GIRLS' FEDERATION TO SEAT OFFICERS Third Christian Church Ceremony Arranged. Candle light installation services will be held at 9:30 Sunday morning at the Third Christian church for new officers of the Girls Federation. Mrs. Ruth Book will sing. Officers to be installed are Miss Isabelle Small, president; Mrs. Constance Stuckey, Miss Vera Kepple. Mrs. Elizabeth Thornburg. Miss Hallie Racuglen, vice-presidents; Miss Geneva Roberts, treasurer; Miss Josephine Combs, assistanttreaurer; Miss Ruth Randolph, corresponding secretary; Miss Frieda Patton, recording secretary, and Misses Mary Alice Randolph, Olive Magruder. Ruth Shobe and Pauline Netherland, secretaries. Associate teachers are Mrs. Leila Rothenburger and Mrs. Curtis Hodges. Miss Minnie Lloyd is assistant teacher. Members of the new council of the federation will be entertained by the executive council at a dinner party Friday night at the Silver Cup. CHICAGO FRUIT MARKET Bp United Press CHICAGO. Jan s.—Apples—Michigan Jonathans, bushel $101.50. Carrots Illinois. 500 75c. Spinach—7sc®ssl 15 Beans —Southern green. $1.60®2.25 Mushrooms —ls 0 30c Cucumbers—Southern. *2.2503; hothouse. $2 50® 3. Tomatoes—Florida. $2 250 2.75; Illinois and Ohio hothouse. $lO 1.25 Leaf lettuce—lllinois hathouse. 12* 2 015 c. Celery—Michigan. 60c @sl. Cabbage—Wisconsin. $2 250/2 50 Sweet potatoes—lllinois. *1 2501 35- Indiana. $1.6001.65. Onion market—Western Valencias. bushel. *1.050125; central, western yellows, bushel $1.0501.25; western, whites, bushel $1.5001.75.

I m munlzation against dipthena holds no terrors for Bobby Stoneburner, 6. of 1745 Olive street, as witness the trustful smile with which he regards Dr. W. L. Dorman. 501 1 2 North Emerson avenue. Bobby was one of the first of pre -school age children to be vaccinated in the city - wide drive for immunization against diptheria and smallpox, in which neighborho 0 and physicians are lending their aid.

Chicago Stocks

By Abbott. Hoppln & Cos. TOTAL SALES, 21.000 SHARES —Jan. 5 High. Low. Close. Acme Steel Cos 27 5 8 Asbestos Mfg 3*2 3*i 3' 4 Bastian Blessing .. 5® Bendix Aviation 17*4 16 5 8 16 3 4 Borg Warner 22 21 * 4 21 > 4 Bunte Bros 3 Butler Bros 4'i 4i ß 4® Cent 111 Pub Serv pld. 14 13*2 14 Cent Pub Util VTC >„ Cent & So West d 4 Cent & So West P L pf 5*2 Chi & North Western . 7' 8 6 3 * 6 3 4 Chicago Corp com 2*a 2' 8 2* 8 Chicago Yellow Cab 11*2 Cities Service 2* 8 2 2 Commonwealth Edison.. 37** 36 37 1 s Cord Corp 7 6 3 4 6 7 8 Crane Cos. pfd 45'2 45 45 > 4 Great Lakes Aircraft l* 8 i<- 8 Great Lakes Dredge... 21*a 21 21*g Grigsbv-Grunow */ 2 % i 2 Hall Printing 33., Houdaille-Hershev B‘ 3 3 4 Ind Pneu Tool 17 Iron Fireman ... B* a Kellogg Switch, com 2*- 2 Keystone Steel 11 v Lynch Corp 30*4 30 3 8 30 3 8 Mapes Cons Mfg Cos 32 Marshall Field ... 13 Meadows Mfg Cos com.. .. ... -r Muskegon Mo Spec A 91/, Noblitt-Sparks Ind Inc 12 3 4 12‘i 12* 2 Northwest Bar.corporat 4*2 4*i 4*4 Prima Cos 7% 7 3 4 7 3 4 Process Corp 2 3 % 2 2 3 4 Fublic Service N P ... 14 Public Service 6% pfd . .. ... 40 Quaker Oats .. ... 122 Standard Dredging Cos.. 1 5 8 l*/ 2 1 5 8 Swift & Cos 14 3 8 14 14> 8 Swift International ... 26 3 4 26*4 26> 4 Thompson. J R 7*2 7% 7\x Utah Radio I*4 I*4 1? 8 Utility & Ind ... 5 4 Walgreen Cos com 18 17*4 17 7 8 Wart, Mont ‘A' 90 88 88 Zenith Radio ... 304

Indianapolis Cash Grain

—Jan. 5 The bids for car Jots of grain at the call cf the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41% New York rate, were: Wheat—Easv: No. 1 red. 81%®82%c: No. 2 red. 80*2081 %c: No. 2 hard. 80'% @Bl Vic. Corn—Steadv: No 3 white. 42%@43%c: No. 4 white. 41%@42%c: No. 3 yellow, 42 ®43c: No. 4 yellow. 41®42c; No. 3 mixed. 4i@42c; No. 4 mixed. 40@41c. Oats—Steadv: No. 2 white. 33V2®34%C; No. 3 white, 32%@33%c. Hay—Steadv: 'F. o. b. country points taking 23%c or less rates to Cincinnati or Louisville). No. 1 timothy. $7.50®8: No. 2 timothy. $7®7.50. —lnspections Wheat—No. 1 red. 1 car: No. 2 red. 2 cars; No. 5 red. 1 car: No. 1 mixed. 1 car. Total. 5 cars. Corn—No. 3 white. 2 cars: No 5 white. 1 car; No. 2 yellow. 3 cars; No. 3 yellow. 4 cars: No. 4 vellow. 11 cars: No, 5 vellcw. 2 cars: No. 6 vellow. 1 car: No. 4 mixed. 2 cars. Total. 26 cars. Oats —No. 2 white. 5 cars: No. 3 white. 6 cars: sample white. 1 car. Total. 12 cars.

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 8.25 Pocahontas egg 825 Pocahontas forked lump 925 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6.75 West Virginia egg 650 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin.

In the Cotton Markets

—Jan. 5 CHICAGO High. Low. Close. January 10.55 10.45 10.45 March 10.70 10.56 10.56 May 10 83 10.70 10.72 Julv 10 38 10.86 10 86 October 11.14 11.07 11.07 NEW YORK January 13 47 10 35 10 35 March 10.60 10.48 10.49 Mav 10.76 10 63 10.65 Julv 10.92 10.77 10.80 October 11 10 10 98 10.99 December 11 24 1110 11.12 NEW ORLEANS January 10 35 March 10.55 10.44 10 45 Mav 10 73 10 60 10 62 July 10 89 10 73 10.77 October 11.04 10.92 10.93 December 11.15 11 09 11.09 BYRD DISPROVES OLD IDEAS MSS SEA Admiral Learns Supposed Land Is Merely Ice. By United Press ON BOARD SS. JACOB RUPPERT EN ROUTE TO ANTARCTIC (Via Mackay Radio), Jan. o. Rear Admiral Richard E. Byrd expressed the opinion today tnat the geographer's conception of Ross sea, haven of South polar expeditions, as inclosed on three sides must be abandoned. Admiral Byrd’s flight yesterday over the southern ice pack showed many thousands of square miles mapped as ice covered land really was ice. “It would now* appear,” the explorer said, “that the bulge of white unkown space on the map. which seemingly incloses the Ross sea on the east, is just water borne ice and that no land exists hereabouts.”

_JAN. 6, 1934

GRAIN MARKET TURNS LOWER | IN DULL TRADE All Months Drop Fractions to a Cent: Routine News Ignored. BY HARMAN \\. NICHOLS United Press Staff torrespo adent CHICAGO, Jan. 6.—Grain prices moved through comparatively narrow limits yesterday in a dull session on the Chicago Board of Trade. Bulges ran into selling orders and fair support met the minor breaks. Prices finished near the bottom, with wheat off to -S cent, corn * 2 to 1 cent lower, and oats unchanged to *2 cent lower. The Larger shares of yesterdays trading was of professional character with the market paving little 'attention to routine news and awaiting developments from Washington. No rain of consequence was reported in the southwest overnight. Winnipeg Remains Quiet Export sales of around 300.000 I bushels of Manitobas were reported at the seaboard. Winnipeg also was ! quiet, with fair support meeting declines, while Liverpool closed equal jto s 4 to I*4. cents per bushel higher. A fairly good domestic demand, ! with local handlers reporting sales ■ of over 100,000 bushels, aided the corn trade. Country offerings again were extremely smail. There was considerable talk about inflation in the pits today in view of the government’s huge budget figure. The cash price for wheat was 1 to *2 cents higher, Receipis were eight cars. Winnipeg was featureless early, I with only moderate business reported. The pit there was inclined j to take profits on long wheat and j await some incentive from the Chi- | cago market. Corn Holds Firm Corn showed a slightly firm-r I tone, with some buying regarded as removing hedges against shipping : sales, the latter aggregating 115.000 bushels. Five thousand bushels | were booked to arrive. Cash prices were 1 to 14 cent higher, receipts ■ thirty cars. Oats moved upward in a small ; market, the buying regarded by | some traders as for investment pur- | poses. Twenty thousand bushels were sold to move out. The cash | price was unchanged to *- 2 cent I higher. Receipts were twenty-seven [ cars in oats, rye none, and barley twenty-six. Chicago Primary Receipts —Jan. 5. Bushels. I .... , Tuesday, Last Week I Wheat 187 000 310.000 Corn 482.000 311.000 I Oats 112.000 69.000 Chicago Futures Range —Jan. 5 WHEAT— Prev . Open. High. Low. Close, close! Mav 84 3 4 .85*2 .83 3 4 .84 .84’, 3 3 4 82 .82% .82’, Sept 84 >4 .84*4 .83*4 .63*, 84 CORN— May 51 3 4 .52*4 .51 *4 .51 % .51’, July 53 3 4 .53’, 52’, .52% .53’-, Sept 54’, .54’-, 53 3 .53% .54’, OATS— May .37*2333,7 3 , .37 .37 .37% July 35 3 -4 .35% 35*4 35% .35*4 Sept 34’/, .34*4 .34 .34 34 RYE— May 58*4 .58*2 .57>' 4 .57*4 .58 July 60 .60 .59 .59 .59*4 BARLEY— May 52*4 .52*2 .52 .52 .52*4 July 52 .52*4 LARD (old) Jan 5.00 5.00 492 May 5.30 5.32 5.30 5.32 527 BELLIES (old) Jan 512 5.12 May 5.80 5.77 BELLIES (new) Jan .... 5.72 5.77 5.72 5.77 5.67 May 6.37 640 637 6.40 632 July 6.52 6.52 LARD (new) Jan 5 37 5 37 May 5.75 580 5.72 572 5.72 July 5.70 575 5.70 5.70 5.70 Sept 5.85 5.85 5.82 582 5.82 CHICAGO CASH GRAIN By United Press CHICAGO, Jan. s.—Cash Grain, Wheat No. 2, red 85*4; No. 3, yellow, 50*4050*2. 1 New i No. 3, mixed, 480 48%; No 2, yellow, 50, No. 3. yellow. 48*2049*4; No' 4, yellow. 49; o. 2. white. 50; No. 3 white. 43 , 2@49 i 4; No. 4. white. 47*2. sample grade white. 44. Oats: No. 1, mixed, 34%; No. 2. white. 37®37V 2 : No. 3. white, 36® 37; No. 4, white. 35%®36. Rve- No sales. Barley: 480 82. Timothy: $5 50 0 6 00: Clover seed. $10.00014 25 Cash provisions: Lard. $5.40; loose. *4 65; leaf, $4.92, S. bellies. $5.8. TOLEDO CASH GRAIN By United Press TOLEDO. Jan. s.—Grain close: (Grain in elevators transit billing). Wheat: No. 2 red 87%®88%. Corn. No. 2. yellow. 53*20 54*2. Oats, No 2. white. 40 0 41. Rye, No. 2, 66 0 17. /Track prices, 28%c. rate). rate/. Wheat, No 1. Red. 83*2 0 84; No. 2- r* d - 82*2 0 83%. Corn, No. 2, yellow. 49 0 50%; No 3, yellow, 47 1 0/ 43 No 4 yellow, 46*2047*2: No. 5, yellow; 45%®’ 46%. Oats. No. 2, white 37® 38 . No 3. white 36 % ® 37 1 2 /Toledo seed close' Clover, March, $8.25. Alsike. cash, *8 50. NEW YORK CASH GRAIN By United Press NEW YORK, Jan. 5 Cash grain' Wheat, No. 2. red, $1000: No. 2. hard winter. $1.00%. Corn, No 2, mixed. 59% Oats—No. 3 white. 45* 2 c. ST. LOUIS CASH GRAIN’ ST LOUIS. Jan s.—Cash grain: Wheat —ln good derrand. % cent higher on red and 1 cent lower on hard No. 1 red 89cNo. 2 red 88089 c. No 3 red. 88c No. 1 red earlickv. 88’ 2 c No. 2 rpd garlicky. 83c: No. 2 hard. 85c. nominal. Corn— In good demand steady to 1 cent higher: No. 2 v-llow. 49%@ 50c: No. 3 yellow. 48*2 ®49c: No 4 yellow, 48r Oats—ln good demand % to 1 cent higher: No 2 white 38*2039-- No. 1 mixed. 39®39‘2c: No. 2 red 39c No. 4 red 38c INDIANAPOLIS WAGON WHEAT City grain elevators are paying 77 cent* for No 2 soft red wheat. Other grades on their merits.

On Commission Row

---Jan. 5 Fruit* Cranberries—Cape Cod early blacks. 25lb box. $2.60. Grapes—Semi sawdust. 24-lb. lug. $2 75. Pears— Washington A’AJou. 90-!655. $2 50; Avascados. Fla 16-16s. crate. $1.75. Strawberries—Florida, 20c per pint. Bananas—Per pound. 5%c. Apples—Wealthy. Wolf River Grime* Golden. Jonathan. Florida. $1.2501.85 a bu . fancy Stavmar.s. $2 25 a box. Grapefrui’—s2 750 3 75. Oranges—California Navel*. $4 25 oox. Lemons—36os. $6.25. Vegetable* Cabbage—Eastern Danish. 55-lb. bag. $1 60: new Texas. 50-lb. crate $/ <>s. Onions—lndiana white, 50-lb. bag. $1.35t Indiana vellow. 50-lb, beg. $1 35 1 Beans—Round string*ss, hamper. $2: best. 5Z.75. Beets—Bulk per bu.. $1.15; Texas, new. $1 75 a crate. Peas—3o-lb. hampers. $2 5002 75. Carrots—California. *2 50 a crate: per doz.. 50c: Michigan. $2 50 per crate, doz.. 60c: bulk, per bushel. sl. Cauliower California <ll-12ci. crat $1 85. Celery—Michigan Mammoth, bushel. 65c; medium bunch. 45c: hearts. slls. 15-bunch per crate. $2 25: California. $3 crate. Cucumbers—Florida. $4 bushel: hothouse. 90c per dozen. Lettuce—iceberg best (4-ss) crate. S3 50; hothouse. 15-lb basket. 75c. Radishes—Hothouse button. 75c dozen. Spinach—New Texas. $1 per bu. Turnips—Per bu, 85c Tomatoes—Hothouse. $l5O Potatoes—Northern round white. 100-lb. bag. $202 25; R R Ohios. 100-lb. bag. s2® 2 25. 15-lb. bag. 35c; Idahq Russets. 100lb. bag. $2 2i; Texas Triumphs, new. $2 50-lb. bag. ...Sweet Potatoes—Nancy Halls, per bu.. 51.60.