Indianapolis Times, Volume 45, Number 208, Indianapolis, Marion County, 9 January 1934 — Page 11

JAN. 9, 1934

Heavy Government Financing Has Two-Sided Bearing on Nation's Future Monetary Policy. BY RALPH HENDERSHOT Times Special Financial Writer

President Roosevelt's statement in his budget message to congress that the government must borrow $10,000,000,000 in the next six months—s6,ooo,ooo,ooo for new requirements and $4,000,000,000 to pay off maturing obligations—has a rather two-sided bearing on his monetary policy. The bankers, on one hand, are likely to demand that he pursue a “sound money ’ course to enable them to sell the securities, and the “inflationary” group in Washington may be counted upon to insist that he get at least part of the new money by “tampering” with the old. The bankers, of course, want stabilization of the dollar. They don’t like to be put in the position of suggesting to clients that they buy dollar bonds payable at some future date without knowing or having a reason-

able idea of what the dollar is going to be worth on that date. The people in a position to buy government bonds at this time constitute the banks’ or dealers’ best clients, and it is one thing to sell a pig in a poke to the general public and quite another to sell it to such clients. Many senators and representatives are likely to look at the potential increased taxes involved in the sale of so many new bonds and probably will ask that some of the cost of reconstruction be met by a deep revaluation of the dollar in terms of gold. And, perhaps, instead of putting out interest-bearing securities they will suggest that the treasury’ issue currency direct. n tx a President in Tough Spot The President is hardly in a position to say definitely what his monetary policy is to be. International as well as domestic factors must be consid-

Ralph Hendershot

ered. The war debts and the monetary policies of European countries, especially Great Britain, must be given weight. Moreover, it would be extremely difficult at this time to say where to fix the dollar value. Additional time—probably several months—must elapse before those factors are cleared sufficiently to take some definite step. Moreover, it might be dangerous to bring the issue too much into the foreground so soon after the opening of congress. The legislative body seems to be working in fairly close harmony, but a definite stand one way or another on the part of the Chief Executive might cause such a wide divergence of opinion and bring about so much bitterness that very htUe could be accomplished during the remainder of the session. - r * 01n g his best to tie in all factions he stands a better chance, perhaps of continuing or even extending his powers to deal with the situation in his own way. a a b 8 ts o Administration Wins Skirmish The administration won its skirmish with Wall Street speculators m government bonds following publication of the President's budget message. The speculators sold short in heavy volume, and prices broke sharply. Through the Federal Reserve Bank of New York, however immediate support was given, and the shorts ran to cover in short order’. > o ong as this support is kept available government bonds mav be th<,|r °" n '” irly we “- but ‘ f “ => be withdraw^ mgs might not go so well and some difficulty might be experienced in sealing the new federal securities.

New York Stocks " " lßy Abbott. Hoppln Ac Cos.)

—Jan. 9 Oils— p rev . High. Low. 10:30. close. Amerada ... ... 42'2 Atl Rig 28% 28>/2 28% 28% Barnsdall ... ... 7% Consol Oil 9% 10 Cont of Del 16% 16% Houston inewi.. .. ... ... 3*2 Indian Rfg ... 2% ... Mid Cont Pet ... ... 11% Ohio Oil 12% 13 Pet Corp ... ... 9 Phillips Pet ... 15Vi 15% 15Vs 15% Pure Oil lOV4 Royal Dutch ... ... 37 Sbd Oil 26 25% Shell Un 8% S% Skelley Oil ... 8 8% Soc Vac 15% 15% 15% 15% S O of Cal 38% 38% S O ol N J 44% 44Vi 44% 44% Sun Oil 52 Texas Corp 23% 23% 23% 23% Tidewater Assn. .. ... ... 9 Un Oil of Cal 18% 18% Steels— Am Roll Mills 18% 18 Beth Steel 35% 35% Byers AM ... ... 22 Col Fuel & Iron .. ... . 4 Gulf Sts Steel.. 29 28 28 Inland Steel ... ... 42% Ludlum Steel ... ... 15 McKeesport Tin .. ... 85% Natl Steel 12% Rep Iron & St.. .. ... 16% 16% Rep Ir * Stl pf 40 U S Smelt 99 3 i 99% 99% 100% Vanadium ... ... 21% Mid Steel 12*4 U S Pipe & Fdv. .. ... .. 18% U S Steel 47% 46% U S Steel pfd. 88% 88 88 88% Youngst'n S&T .. ... 21% 21% Rails— Atchison ... 55 55 Atl Cst Line ... 40 39% B & O 22% Can Pac 14% 14% 14% 14% Ch & Ohio 39% Chi & Gt W 3 C M & St P 4% C M & St P pfd 7 Chi N W 7 7 Chi R Isl 3% Dela & Hud 53% Grt Northern pfd .. ... 19 18% 111 Central ... 28% K C Sou 12 11 12 11 Lou <fc Nash ... ■ • 49 MK& T , 8 Mo Pac • 3% 3Vs Mo Pac pfd 32% 32% 32% 32 N V Cent 32% 32% 32% 32 N Y Nexv Haven .. . . 14% 14% N Y Out & Wes 8 Nor Pac ....... 21% 21% 21% 21% Penn R R 29% 29% Sou Pac ••• 18% 19 Sou R R 24% 24% 24% 24% Sou R R pfd. 28% Union Pac Motors— Auburn 49*4 49 l e 49*4 49*4 Chrysler 53*2 53 53*2 52 3 s Gen Motors ....33 3 34 l 4 34 3 8 33*8 Graham Mot ... 3 2’* Hudson 15 * Hupp 4 3 4 4*2 Mack Truck. ... ..• 34*2 Nash 23 3 4 24* 2 24 3 4 24 Packard 3 7 a 3 7 Heo 3*4 Studebaker ... 5 5 Yellow Truck 4 3 s Motor Accessories — Bendix - .. ... 16*2 16*4 Bohn Alum 56 Borg Warner 20^4 Briggs 12% Eaton Mfg ... ... 13% Elec Auto Lite .. .. . 18% 18% Murray Body .. .. ... 6% 6% Stew Warner 6% Timken Rol 30 29% Mining— Alaska Jun 21% Am Smelt . . . 42% 42 Anaconda ... 13% 13*2 13% 13% Cal & Hecla 4 4 Cerro De Pasco. .. ... 33% 33% Gt Nor Ore ... ■ ■ 12_ Howe Sound ... 35% 35% Ins Copper ... 4% 4*2 Int NicKel .. 21% 21% Kennecott Cop.. 19% 19% 19% 19% Noranda Cop 34% 34 Phelps Dodge ... 16% 16% Pitts Coal 10 Tobaccos Am Snuff 48% Am Tob A 69 % 69 69 % 65 % Am Tob B 72 71 71% 67% Gen Cigar 29% 29 Ligg & Myers 882 81 81% 76% Lorrillard .... 17% 17% 17% 16% Reynolds Tob B 45% 45 45% 43% Equipments— Allis Chalmers.. .. 16% Am Car & Fdy ... ... ... S3 3 * Am Loco ... ... 27V* Am Mach & Fdv 13% 13% 13% 13 Am Steel Fdv 19% 20 Bald Loco 11 11 Burroughs ... 15% 15% Case J I 65% Cater Tract ... 24% 24 24 24 Colgat Palm P. .. ... 10 10 Congoleum ... .. 23% Ecc Stor Bat.. .. ... 44% Gen Am Tank C . . 34 34% C.en Elec . . 19% 19 19% 18% Gen R R Sig ... ... 33% Inßsol Rand 59% Int Bus Mach.. .. ... ... 140 Int Harvester 38% 38% Kelvinator ... ... 12 Natl Cash Reg 16% Proc & Gamble 36% 36% Pullman Inc 50% Simmons Bed 17 17% Und Elliot 36 West Air B 27 Elec 36% Am A For Pwr 7% Am Power A- Lit 5% A T A- T 110% 109% 110% 109% Am Wat Wks 17 17% Col Gas & Elec 11% 11% Col G A E pfd 52 Com ii Sou 2 2 Consol Gas 36% 36V 36% 36% Elec Pwr A- Lit 4% 4% E P A L pfd 8 Int TA- T 14% 14% 14% 14% Nat Pwr A Lit 8% 8% North Amer . 13% 13% 13% 13 s . Pac G A E 75% Pub Serv N J 34% 34% So Cal Edison ... .. 15% Std Gas . ... 8% 7 Btd Gas pfd ... ... 7% United Corp 43. 4% Un Gas Imp ... 141- 143,. Ut Pwr A Lit A.. ... ?% Western Union. 54 Rubbers— Firestone 18% Goodrich ... 12% Goodyear . * *" 34 U S Rubber 15 E S Rubber pfd 24% Amusements— Crosley Radio g Loews Inc 27 26\ 26% 26% Cor P 6% 6% Warner Bro 4%1 Foods— Am Sugar ....... ... . 47% Anaour A 4% 4% i* 4%

Wall Street

cK'"c„r,'° a - =”'* M ’-* 20% Cont Bak A Corn Prod 73% 72% '73% 795/f Crm of Wheat . . 4 32 or /8 G W Sugar.... . IT?* Natl Biscuit '■ 41/2 12,, 4 Natl D Prod .... ’iav, {is, 2 Purity Bak 13 /8 S Porto Rico Su .. I” ’iiu, 003■ Std Brands ! ’ 51% ona 8 United Fruit .... ’ 21 8 Iqj ß wrigiey .. ;;; i* 3 Retail Stores— Best &Cos ..... .. 26% nfti/ Gimbel pfd 26 * ft* Gr Un Tea .. % 4 Hahn Dept Sts . 5% "5% "5% 51/. Kresge £ S .. 14% 14% 14% 14 8 Kroger Groc ... * 8 Macy R H „' 4 May Dept St iiv. Mont Ward .... ! 32 8 2® 3 Safeway St 33 /8 s?;= Sebrs Roebuck J ‘40% 405 j Woolworth I;; 4 42% Aviation— Aviation Corp 734 73 Douglass Air i 6 .. 4 Curtiss Wright ... 2% Curtiss Wright A 5S 57* Nor Am Av tu United Aircraft !! 31% 30% Chemicals— Air Reduction .... Allied Chem ,4? Am Com Alco. ..55 54% - 55 54 Col Carbon ..... .. f” S° lv ' n 's 31% 3i>/ '31% 31 Dupont . 9134 Qn74. Freeport Tex 4 S 3 8 Liquid Carb 77 Math Alkali ...... 3954 Tex Gulf Sulpli. .. . 38% 38% Union Carbide 451 4 4? 4 U S Ind Alco 2 s?i' Natl Dis (new) 25% 25% '25% 25 Drugs— Coty Inc 4 Lambert " "225/. 79% Lehn & Fink .! .! 22 8 2 \ 8 Zonits Prod Financial— Adams Exp 6% Allegheny Corp "314 Tiansamerica ... ... % Tr Conti Corp ' ’'4l^ Building— Am Radiator ... 14% 14 14% 137Gen Asphalt . .16 15% 15% Johns Manvillc 57 - 56% Libby Owens Gls 357,. 355“ Otis Elev 15a 8 147 8 Miscellaneous— Am Can 95% 94% 95% 941* Anchor Cap ;g. 8 i Brk Man Tr 311 8 1 Conti Can 753? 1 East Kodak ... . 79% Owens Bottle 1 78% Gillette 9 8% 9 | Gotham Silk ... ... 7 | Indus Rayon 751/- ; Inter Rap Tr .. .. ... ... 11%

U. S. Government Bonds

NEW YORK. Jan. B.—Closing Liberty bonds ’ (Decimals represent thirty-seconds) LIBERTY 3%s (32-47) 100 9 First 4%s (32-47) " 10115 Fourth 4%s (33-38) 101.26 ! TREASURY 4%s (47-52) 106 4%s 3%s (43-45) 98 11 4s )44-54) ii 102.26 3 *s i46-561 101 3%S (43-47) 09 g 3%s 141-43) March 99^4 ! 3%s (40-43) June 99.16 ; 3%s 146-49 96 12 3s (51-55) 94 26 3 * < 4l ' 98.10

Federal Farm Loan Bonds

(By Blyth <fc Cos.. Inc.) —Jan. 9 .„ , .... Bid. Ask. 4s. Nov. 1. 1957-37 87 89% 4s. May 1. 1958-38 87 89% 4%5. Juiy 1. 1956-36 88 90% 4%5. Jan. 1. 1957-37 88 90% 4\s, May 1. 1957-37 88 90 % 4%5, Nov. 1, 1958-36 88 90% 4%5, Dec. 1. 1933-32 91% 931, 4%5, May 1. 1942-32 92% 941, 4%5, Jan 1. 1943-33 91% 931. 4%5. Jan. 1. 1953-33 91% 93% 4%5. July 1. 1933-33 91% 93% 4%5. Jan 1. 1955-35 91% 931. 4%5. July 1. 1955-35 91% 93% 4%5, Jan. 1. 1956-36 91 1 a 93% 4%5, Julv 1. 1953-33 92% 94% 4%5. Jan. 1, 1954-34 92% 94% 4%5. July 1. 1934-34 94% 94% ss. Mav 1. 1941-31 97 98% ss. Nov. 1. 1941-31 97 98% Home Loan 4s. Juiy 1. 1951 92% 93%

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Jan. 9 , Bid Ask. American Bank Stocks Corp... .75 85 American and Gen Sec (A).. 4.50 600 American & Inv Tr Sh 1.50 2.50 Basic Industry Shares 3.20 330 British Tvpe Iny Tr Sh 44 .50 Collateral Trustee Shares A 450 4.62 Corporate Trust Shares told' 1.98 202 Corporate Trust Shares i new I 222 2.25 Cumulative Trust Shares 384 Diversified Tr Shares iA> 6 25 .. . Diversified Tr Shares 'B . ... 720 735 Diversified Trust Shares .C > . 2.91 295 ! Diversified Tr Shares IDI 4.65 4.75 First Insur Stock Corp 1.28 134 First Common Stock Corp 83 .98 Fixed Trust Oil Sh iA> 8.15 8.30 Fixed Trust Oil Sh iB . . 705 720 Incorporators Investments .17.14 18 61 Land Bank Bond Shares 92 1.02 Low Priced Shares 532 Mass Inv Trust Shares 17 34 18.88 Nation Wide Securities , 3 06 3 12 North Amer Tr Shares <'s3> 175 North Amer Tr Sh i'ss) 223 2.26 North American Tr Sh <SB > 235 255 Selected Amer Shares 2 50 Selected Cumulative Sh 6 40 Selected Income Shares 330 370 Std Amer Trust Shares |A>.. 2,86 2.92 Trust Sh ot America 270 2.75 Trustee Std iOl (A) 505 5.20 Trustee Std Oil <B > 4.85 4.95 D S Elec Lt & Pwr <A) 9.82 10.00 Universal Trust Shares 2.85 2.90 t

TOBACCO ISSUES ADVANCE AFTER PRICEINCREASE Other Shares Display Firm Tone; Cotton Market Turns Weak.

Average Stock Prices

Avecage of thirty industrials for Monday: High 97 93, low 96.26. last 96.73, off .21 Average of twenty rails: 40.41, 39 93, 40 12, up 15 Average of twenty utilities: 22 80, 2T31. 22 43. on .03. Average of forty bonds: 84.80, up .07. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Jan. 9.—Sharp gains in tobacco shares led to a generally firmer tone on the stock market today. Trading continued light. Overnight announcement that R. J. Reynolds Company would increase the price of Camel cigarets to $6.10 a thousand —the first increase since February, 1933—brought considerable trading into tobacco shares at advancing prices. American Tobacco also announced price increases. Reynolds B opened at 3,000 shares at 45, up IT's. Lorillard had an opening of 1,400 shares at 17%, up 1%. American Tobacco opened at 69, up 3 American Tobacco B opened at 71%, up 332 , and Liggett & Myers B on 2,200 shares at 82. Elsewhere the list showed narrow price changes, most of which were slightly higher. U. S. Steel gained %, to 47Vi, and American Telephone gained Vi point, to 109 Vi. Other opening gains included: Union Carbide, 45%, up %; American Smelting 42V4, up Vi; Consolidated Gas 36%, up %; International Nickel 21%, up Vi; Sears-Roebuck 40%, up %; American Commercial Alcohol 54%, up %; Du Pont 47V4, up %; Gulf States Steel opened at 29, up 5. Some of the oils and utilities eased slightly at the opening. Tobacco shares continued to advance after the opening, leading to a slightly firmer tone through the entire list. Trading continued dull. Cotton declined about 25 cents a bale at the opening while the bond market was steady.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 9 Clearings $2,412,000.00 Debits 4.415,000.00 TREASURY STATEMENT —Jan. 9 Net balance for Jan. 6 802,697,458 30 Misc. Int. Rev. Recpts 5,125 793.90 Cus repts (month to date) 5.857.338.01 New York Curb (Bv Abbott. Hoppin & Cos.) —Jan. 8— Close. Cloro Allied Mills 8% Gulf Oil of Pa. 59% Alum Cos of Am 7% Hiram Walker . 53% Am Cyanide B. . 15% Hud Bav Min.. 8% A & Fr Pw War 5% Humble Oil ... 331:, Am Gas & El.. 19%; Imperial Oil Ltd 13% Am Superpower. 2% Int Petrol 20 Ass Gas & El.. 1 2 1 Lake Shore Mi'ri 46 Atlas Corn 10% Lib McN Lib.. 3 British Celanese 3% Massev Harris.. 4% Can Ind Ale A 13%:Mt Producers 41 „ Can Marc 2% Natl Bellas Hess 2% Carrier Corn... 6% Newmont Min.. 50% Cities Serv. ... 2% Nia Hud Pwr 5 Commonw Ed.. 38% Pan Am Airw 47 Cord Corn 6% Park Davis . . 23 Creole Petrol... 10 Penn Road . 2% Deere &Cos ... 26% Sal Creek Prod.' 6% Distillers Lim.. 21% Sherwin Wms 48% Distillers Corn.. 23 Std of Ind " 313. El Bond & Sh. 11% Std of Kv ’ 15 Fisk Rubber... 9% Technicolor ind 8% Ford of Can A 15%!Teck Hughes Gld 6 Ford of Europe 5%!Un Gas .... 334 Gt Atl & Pac 123 !Un P & Lt A. '. 2% Glen Alden Coal 11 1 4iWr Harg Min. , 7

Foreign Exchange

(Bv Abbott. Hoppin & Cos.) —Jan. 8— Close. Sterling. England $5 07% Franc. France 0509% Lira, Italy 0817 Be’gias, Belgium 2164 Mark. Germany 3700 Guilder, Holland 6268 Peseta. Spain 1282 Krone. Norway 2555 Krone. Denmark 2270

Daily Price Index

By United Press NEW YORK. Jan. B.—Dun & Bradstreet’s daily commodity price index of thirty commodities compiled for the United Press: (1930-1932 average 100). Today $102.09 Saturday 102.00 Week Ago 101.50 Month Ago 100.58 Year Ago 71 02 1933-1934 high (July 18) 113.52 1933-1934 low (Jan. 20 67 86 (Copyright. 1934. Dun A- Broadstreet, Inc.) Births Girls Clarence and Hazel Montgomery. 2848 Kenwood. Stanley and Agnes Hallswortn, 1619 Lawton. Albert and Kathleen Bloemker. St. Vincent's hospital. Henry and Eleanor Brinker, St. Vincent's hospital. Otho and Madeline Deurson, 1444 Holliday. Otis and Beulah Burkett. Methodist hospital. Artie and Georgia McKern. 1514 Lee. Harold and Lydia Jones, 2150 Hovey. Herbert and Rosalie Taylor. 2340 Columbia. John and Willie Rickerson. 803 West Brook. xJgancis and Dorothy Stark. 2050 North Clinton and Mary Middleton, 703 Edgemont. Edward and Edna Clarke. 522 North liberty. Boys Bruno and Frances Zoellner. St. Vincent's hospital. Earl and Helen Thorpe. 2860 Kenwood. Oel and Beulah Thayer. 2121 Langley. James and Ina Gott. 2118 Martha. Elmer and Lela Stewart, 845 South Warman. Theodore and Evelyn Walton. 68 South La Salle. Ross and Amanda Christy. 1823 Roosevelt. William and Bessie Weeks, 710 South Keystone. Deaths Rosa M Grayson. 62. 4704 East Thirtieth, pulmonary tuberculosis. Joseph D. Cain, 70, 4402 Manlove. carcinoma. Florence Hoover Kealing. 30, 734 North Bolton. Intestinal obstruction. Jennie McDonald. 60. 1902 Highland Place, broncho pneumonia. Polly Ann Hussey, 89. 517 Eugene, acute dilatation of heart. Charles E. Boyer. 71. 863 North Oakland. lobar pneumonia. Robert H. Calvelage. 57. 2239 North Pennsylvania, coronarv occlusion. Joe Allen Tate. 6 months. 2437 East Fortieth, broncho pneumonia. James Lawrence Leslie. 5 months. 646 Birch, broncho pneumonia. Martha Covington Kellev. 18. 535 Agnes, pulmonarv tuberculosis Louis H. Bresock. 64. 3957 Southeastern. cerebral hemorrnage Minnie May Sparks. 49. 324 North Linwood. carcinoma Iden H. Cox. 37. 32 South Vine, aortic aneurism Julia Ann Thayer. 63. 1440 North Chester. carcinoma. Alonzo F Cooper. 66. 2831 Guilford, broncho pneumonia. Lota Witman. 46. 1222 Prospect, acute myocarditis. Jackie E. Purdy, 1. city hospital, broncho pneumonia. Armanda Howard. 70, 1028 Division, chronic myocarditis. Anna Findley. 18. 640 Woodward, chronic valvular heart disease. Amie McGraw, 51. 208 Detroit, skull fracture. _ B h z Abeth Johnson. 76. 977 West Twentyfifth, broncho pneumonia. Harry Banks. 51 Central Indiana hospital, general paralysis. 1

.THE INDIANAPOLIS TIMES

i— i- - Stocks | 11 '""By Abbott. Hoppin & Co.i " l_ " TOTAL SALES. 30.000 SHARES —■ JBfi. 3 High. Low. Close. i Altorfer Bros 10% 10 10 Asbestos Mfg ... 3* Automatic washer 1% Bendix Aviation 16% 16% 16% Borg Warner 21% 20% 20% Butler Bros 4% 4% 4% Cent 111 Pub Serv pfd 14 13 14 Cent & So West P L pf .. ... 6% Chi & North Western.. ... 6% Chi City & Con Rys ‘a Chicago Corp com 2% 1% 1% Chicago Corp pfd 22% 22% 22% Cities Service 2 ! s 2 2% Commonwealth Edison.33l8 1 37% 38 ; 4 Cord Corp 6% 6% 6% Crane Cos 7*4 Crane Cos pfd 47 45% 45% Decker & Cohn 1% Goldblatt Bros .. 23 Great Lakes Aircraft... 1% % 1% Great Lakes Dredge. . 21% 20% 20% Grigsbv-Grunow % % '2 Houdaille-Hershev A IPs 11 11 Kat 2 Drug 21 Libbv-McNeil 3 Lvnch Corn 31% 30 30 Marshall Field ... 12% McGraw Electric ... 3% McWilliams Dredging Cos 15% 15 15% Noblitt-Sparks Ind.. Inc 12' 2 North Am Light & Pow .. ... 5 Northwest Bancorpora.. 4% 4% 4% Perfect Circle 23 Potter Cos ... 3 Prima Cos 77a 7% 7% Public Service ... 14 Public Service N P 13% Public Service 6% pfd.. 38 37 37% Quaker Oats 120% 120 120 Quaker Oats, pfd 116 Signode St Strapp’g, pfd 7 Stand Dredging Cos., pfd .. ... 4 Storkline Furniture ... 4% Swift & Cos 14% 14 14% Swift Xnternacional .... 26% 25% 25% Thompson, JR 7 5 /a 7% 7% Transformer Cor of Am .. ... % Utility & Ind 5 s Vortex Cup Cos 8% 8% 8% Vortex Cup Cos (A) 26 Walgreen Cos com 19 18% 19 Ward, Montgomery (A) 89 Wayne Pump, pfd 1% Wisconsin Bankshares .. ... 2% Zentih Radio 3% . 3Vi 3%

On Commission Row

—Jan. 9 Fruits Cranberries—Cape Cod early blacks, 23lb. box. $2.60. Grapes—Semi sawdust, 24-lb. lug. $3 Pears Washington A'Ajou, 90-1655, $2.50: Avascados, Fla.. 16-16s, crate, $1.75. Strawberries—Florida, 21c per pint. Bananas—Per pound. s'/ 2 c. Apples—Wealthy. Wolf River, Grimes Golden, Jonathan. Florida. $1.3532 a bu., fancy Staymans. $2.25 a box. Grapefruit—s3® 3.75. Oranges—California Navels, [email protected] a box. Lemons—36os. Vegetables Cabbage—Eastern Danish, 50-lb. bag, $1.75: new Texas, 50-lb. crate. $3.80. Onions —Indiana white. 50-lb. bag. $1.35; Indiana yellow. 50-lb. bag, $1.40431.50. Beans—Round stringless, hamper, $2.50; best, $3. Beets—Bulk per bu.. $1.15; Texas, new, $1.75 a crate. Peas—3o-lb. hampers. s3@4. Carrots—California, $3 a crate; per doz., 60c; Micnigan, $2.50 per crate, doz„ 60c; bulk, per bushel, $1.15. Cauliflower—California (11-12s). crate $1.75. Celery—Michigan Mammonth, dozen, 65c: medium bunch, 45c: hearts, $1.25; 18bunch per crate, $1.50: California, $3 crate. Cuchmbers—Florida, $4.50 bushel; hothouse. $1.50 per dozen. Lettuce—lceberg best f4-ss) crate, $3; hothouse. 15-lb. basket, sl. Radishes—Hothouse button, 75c dozen. Spinach—New Texas, $1 per bu. Turnips—Per bu„ 85c. Tomatoes—Hothouse. $1.50. Potatoes—Northern round whites. 100-lb. bag. $2.10; R. R. Ohios. 100-lb. bag. $2.10; 15-lb. bag. 35c; Idaho Russets. 100-lb. bag, $2.25; Texas Triumphs, new. $2 50-lb. bag. Sweet Potatoes—Nancy Halls, per bu., $1.65.

Produce Markets

Delivered In Indianapolis prices—Hens. 10%c; Leghorn hens. 7%c; heavy springers over 5 lbs., lie; under 5 lbs., 9c; Leghorn springers, 7c; cocks. 5 lbs. and up. sc: under 5 lbs.. 4c: ducks. 4% libs, and over, full feathered and fat, 6c: under 4*/2 lbs.. 4c; geese, full feathered and fat. 6c. Turkeys—No. 1 young hens. 8 lbs. and over. 11c; No. 1 young toms. 12 to 20 lbs., 13c; No. 1 young toms over 20 lbs., 13c; old toms. 10c; Nu. 2 thin crooked breasted. 6c; young guineas. 1% to 3 lbs.. 35c; 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. 25®26c; No. 2. 22®23c. Butterfat—llc. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO. Jan. 9.—Eggs—Market steady; receipts, 3,953 cases; extra firsts. 21c; fresh graded firsts, 20c; dirties. 12® 15c; current receipts, 18c: checks. 12®14%c. Butter—Receipts, 8,831 tubs; market steady; storage extras (92 score). 17%c; storage standards (90 score), 17%c; extra firsts (90®91% score). 17%®)17%c; extras (92 score), 19c; firsts (88-89% score, 16 3 ,4® 17c; seconds (86®87% score), 16c; stan3ards (90 score). 18c: specials. Poultry—Market steady; receipts 47 trucks, no cars, two cars due; turkeys, 12®: 14c; hens, 12%c; Leghorns, 9@loc; colored springs, 14c; roosters. 8c: chicks. 11c; ducks. 9® 11c; geese. 10c; black chicks, 8c: Plymouth Rocks. 14%c. Rocks. 15c. Cheese —Twins, 10%® 10%c; longhorns, ll@ll%c; S. daisies. 11%@11%c. Potatoes—Supply moderate; demand and trading good; market firm; Wisconsin round whites, few sales. $1.65®1.70; Idaho russets, open mugs. $1.95®2. closed mugs, 51.87%® 1.92%; Colorado McClures. 51.85®1.92%; Minnesota and North Dakota Red River Ohios. $1.60; Minnesota round whites. $1.60® 1.62%. CLEVELAND. Jan. 9.—Butter—Market firm; extras. 22c; standards. 22c a pound in tubs. Eggs—Market barely steady; extra white, 21c: current receipts. 18c; fresh pullets, 15c; Poultrj’—Market steady; colored fowl, 4% lbs. and up. 15c; colored fowls, medium, 13c; Leghorn fowl, 3% lbs. and up. 12c; Leghorn fowl, light, 10c; springers. Rock, 5 lbs. and up, 15c; springers. colored. 4 lbs. and up. 13c; colored broilers, 18c; capons, 8 lbs. and up, 22c; ducks, white. 5 lbs. and up. 15c; ducks, light. 12c; geese, heavy, fat, 13®14c; ordinary. 12c; old roosters. Bc. Potatoes (quotations based on United States No. 1 and 100-lb. sacks unless otherwise stated); Maine cobblers and green Mountain best, $2.25; fair stock, [email protected]; Idaho Burbanks. $2®2.15; partly graded, $1.90; Ohio, $1.50 ® 1.75 according to quality; partly graded lower; New York best, $1®1.05 bushel; Michigan, $1.80®1.85; Louisiana Bliss triumphs, $1.60 a 50-lb. sack; Colorado brown beauties, [email protected].

In the Cotton Markets

—J an. 8— CHICAGO High. Low. Close. January 10.72 March 10.79 10.71 10,76 May 10.98 10.87 10.92 July 11.14 11.01 11.09 October 1.28 11.2 11.26 NEW YORK January 10.67 10.60 10.65 March 10.74 10.65 10.72 May 10.90 10.82 10.88 July 11.05 10.95 11.03 October 11.24 11.14 11.20 December 11.37 11.30 11.36 NEW ORLEANS January 10.60 10.55 10.60 March 10.69 10.59 10.67 May 10.86 10.77 10.86 July 11.07 10.91 11.00 October 1.10 11.08 11.17 December 11.31 11.25 11.30

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 8.25 Pocahontas forked lump 9.25 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6.75 West Virginia egg 6.50 Island Creek 7.00 Extra charge of 60c a ton for wheeling coal, and $1 a ton for coal carried to bin. Marriage Licenses Harold H. Siehels. 34, Rockford, HI., musician, and Ruth Jones. 34, of 1624 North Pennsylvania, saleswoman. Austin E. Harlan. 23. of 442 North Concord street, salesman, and Ruth Hammond. 21. of 730 North King avenue, housekeeper. John Brennan. 25. of 2827 East Eighteenth street, tire builder, and Margaret Eaton, 26, of 6112 Primrose avenue. Eli Lilly Company employe. Henry Wilkes. 28. oi 917 Fayette street, barber, and Grace Bassett. 20. of 211 West Ninth street, housekeeper. Raymond David. 41. of 427 Indiana avenue, musician, and Louise Hir.ton. 27. of 323 West Nineteenth street, house- : keeper. Hubert E. Banks. 25, of 335 North Tacoma avenue, stock worker, and Margaret Greeson. 20 of 136 Human street, cashier. William W. Webb. 21. of 1207 St. Peter street, packer and La Nettia Miesel. 21. of 622 North Alabama street, housekeeper. Robert O. Johnson. 22. R. R. 11. Box 475, truck driver, and Lilly Mae Kre.r.iller, 17. of 2172 De Quincy street, housekeeper. NEW YORK RAW SUGAR FUTURES —Jan. 8— High. Low. Close. January 1.14 March 1 26 1.22 1.24 May 1.31 1.38 1.30 July 1.36 1.32 1.34 j September 1.40 138 1.39 1 December 1.46 1.43 1.45

PORKER PRICES DROP 10 CENTS AT CITYYARDS Beef Steers Strong and Active; Lambs, Veals Unchanged. A decline of 10 cents under yesterday’s average was registered in hog trading at the local stockyards this morning. Following a slight advance in the previous session most sellers felt confident of a S4 hog market and were disappointed over today’s action. The bulk, 160 to 275 pounds, sold for $3.60 to $3.75, while 275 pounds and up were salable at $3.40 to $3.55. Lighter grades weighing 130 to 160 pounds brought $3.15 to $3.50. Small slaughter pigs scaling 100 to 130 pounds were available at $2.15 to $2.80. Receipts were estimated at 9,000; holdovers, 190. Beef steers in the cattle market ruled active and strong to slightly higher than yesterday’s close. Early top was $6.60. She stock remained unchanged. Practically all other classes were slow and steady. Receipts numbered 2,200. Vealers continued stationary, selling at $6.50 down. Receipts were 600. Initial lamb sales held strong to steady. Bulk of lambs were salable at $7.50 to SB, while few grades held higher. Receipts were 1,800. Initial asking on hogs at Chicago was steady to higher than yesterday’s average, with no early bids evident. Bulk prices were not established. Receipts were estimated at 35,000, including 10.000 directs; holdovers, 2,000. Cattle receipts numbered 10,00; calves, 1,500; market weak to lower. Sheep receipts were 13,000; market strong. HOGS Jan. Bulk Top Receipts 3. $3,503 3.65 $3.65 9,000 4. 3.50& 3.65 3.65 9,000 5. 3.6043 3.75 3.75 6,000 6. 3.70(8 3.85 3.85 3.000 8. 3,75# 3.85 3.90 8,000 9. 3.60® 3.75 3.75 9,000 Market, Lower (140-160) Good and choice....s 3.35® 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® 3.75 (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® 3.00 (350 up) Good 2.60® 2.85 (All weights) medium 2.25® 2.60 —Slaughter Pigs—-(loo-130) Good and choice.. 2.00@ 2.90 CATTLE Receipts, 2,200; market, higher. (1, 050-1,1001-Good and choice $ 5.50® 6.75 Common and medium 3.75@ 5.50 (1,100-1,500) Good and choice 5.00® 6.65 Common and medium 4.00® 5.00 (675-750) Good and choice 5.00® 6.25 Common and medium 3.00® 5.00 (750-900) — Good and choice 4.50® 6.00 Common and medium 2.75® 4.50 —Cows— Good $ 2.75® 3.50 Common and medium 2.25® 2.75 Low cutter and medium 1.253 2.25 —Bulls (yearlings excluded)— Good (beef steers) 2.50® 3.25 Cutter, common and medium 1.50® 2.50 VEALERS Receipts, 600; market, steady. Good and choice $ 6.00® 6.50 Medium 3.50® 6.00 Cull and common 1.50® 3.50 —Calves—-(2so-5001 Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder ana Stocker Cattle—-(soo-900) Good and choice 3.75® 4.75 Common and medium 2.50® 3.75 (800-1,500) — Good and choice 3.75® 4.75 Common and medium 2.50® 3.75 SHEEP AND LAMBS Receipts, 1,800; market, steady. (90 lbs. down) Good & choice $7.50® 8.00 (90-110 lbs.) Good and choice. 7.00# 7.75 (90 lbs. down) Com. and med.. 4.50® 7.00 —Ewes —

Good and choice 2.25 g 3.25 Common and medium 1.00& 2.25 Other Livestock BY UNITED PRESS CHICAGO, Jan. 9—Hogs—Receipts. 35,000, including 10,000 directs; active, strong to 10c higher; 180-210 lbs., $3.60®3.70; top, $3.70; 220-310 lbs., $3.40® 3.60; 140-170 lbs., $3.25®3.65; pigs. $2.50®3; packing sows, $2.60® 2.90; lignt lights, 140-160 lbs., good and choice, $3.25® 3.65; lightweights, 160200 lbs., good and choice, $3.40®3.70; medium weights, 200-250 lbs., good and choice, $3.50® 3.70; heavyweights. 250-350 lbs., good and choice, $3.15®i.60; packing sows, 275-550 lbs., medium and choice, $2.40@3; slaughter pigs, 100-130 lbs., good and choice, $2.50®3.25. Cattle —Receipts, 10,000; calves, 1,500; better grade yearlings and light steers, strong to 25c higher,, active at advance; lower and better grade weighty steers, steady to strong; $7 paid for 1,003-pound yearling steers; yearling heifers up to $6.50; marked shortage better grade steers and yearlings scaling 1,100 pounds down; she stock strong; bulls, higher. Slaughter cattle and vealers: steers. 550-900 lbs., good and choice, $5.50®7.25; 900-1,100 lbs., good and choice, $5.501,7.10; 1,100-1,300 lbs., good and choice. ss®7- 1,300-1,500 lbs., good and choice, $4(6.25; 550-1,300 lbs., common and medium. $3®.5.25; heifers, 550750 lbs., good and choice, $4.50®6.50; common and medium, $3®4.50; cows, good, $3.25®4.25; common and medium, $2.75® 3.25; low cutter an dcutter, $1.50®2.75; bulls (yearlings excluded), good (beef), $3.25®3.65; cutter, common and medium, $2.85®3.60; vealers, good and choice, $4.75 ®6.25* medium, $3.50® 4.50; cull and common. $2.50®3.50. Stocker and feeder cattle: steers, 550-1,050 lbs., goo dand choice, $3.75®5; common and medium, $2.50® l 3.75. Sheep—Receipts, 13,000; active interest from buyers at start on desirable lambs, indications steady to strong, best holding above $8.25; early bids $8 and down; sheep, steady. Slaughter sheep and lambs: lambs. 90 lbs. dow’n, good and choice, $7.50®8.25; common and medium, $5.25® 7.50; 90-98 lbs., good and choice, s7® 8.10; ewes, 90-150 lbs., good and choice, $2.25®4; all weights, common and medium, $1.50®2.75; feeding lambs, 50-75 lbs., good and cnoice, [email protected]. TOLEDO, Jan. 9.—Hogs—Receipts, 150; market 10®20c lower; heavy Yorkers, $3.70 ®3.80; mixed and bulk of sales, $3.50® 2.80; pigs and lights, $2.25®3; medium and heavies. $3.25®3.60; roughs, $2®2.50. Cattle —Receipts, 250; market steady. Calves —Receipts, light; market steady. Sheep and lambs—Receipts, light; market steady. EAST ST. LOUIS, 111.. Jan. 9.—Hogs— Receipts, 13.000; including 800 direct: market, 15c to 25c lower; pigs not established; practical top. $3.65; few lots $3.75; bulk 150 to 230 Ids.. $3.60®3.65; bulk unsold; few packing sows. $2.40® 2.65. Cattle —Receipts, 4,000: calves. 2,000; market, steers opened fully steady; mixed yearlings, heifers, and cows active and strong: bulls 10c to 15c higher; some up more; vealers steady, top $6.25; a few yearling steers 56®6.25; others downward to $6.40; cows, $2.50®3; low cutters. $1.50# 1.75; practical top sausage bulls. $3.15; slaughter steers, 550 to 1,100 lbs., good and choice $5.25® 6.50: common and medium. S3 ® 5.50; 1,100 to 1.500 lbs., choice, $5®6.25; good, $4.25 ®5.25; medium, $3.75® 5.25. Sheep—Receipts. 2,000; market, not established; few choice wooled lambs to city butchers strong at 58&8.25; packers talking lower; indications steady on throwouts and sheep; lambs. 90 lbs., down, good and choice, $7.25® 8.25: common and medium, $4®7.50; 90 to 98 lbs., good and choice. 57.25®8; yearling wethers, 90 to 110 lbs., good and choice, $4.75®6.50; ewes, 90 to 150 lbs., good and choice. $2.25® 3.50: all weights common and medium. $1.50® 2.75. FT. WAYNE. Jan. 9.—Hogs—loc lower; 160-200 lbs.. $3.70; 200-250 lbs., $3.60; 250300 lbs., 53.50; 300-350 lbs., 53.35; 150-160 lbs., $3.25: 140-150 lbs., $3.15; 130-140 lbs., S3; 100-130 lbs.. $2.60; roughs. $2.50; stags, $1.75: calves. $6.50; lambs. $7.50. PITTSBURGH. Jan. 9.—Hogs—Receipts. 1.500; holdovers. 1.050: steady on closely i sorted 160-220 lb. averages; one load of i 220 lbs.. $4.10; nothing done on other weights; packing sows quotable around $2.75 down. Cattle—Receipts. 10: nominal. Calves—Receipts. 100; steady; top vealers. $6.50; heavy calves. $5.50 down. Sheep— Receipts. 1,000: steady: desirable fat lambs, mostly $8 40: clipDed lambs, around $6 50; aged wethers. $4.25 down. CLEVELAND. Jan. 9.—Cattle—Receipts, 250: market, active and steady; choice steers $6®6.50 good 600-1.000-lb. heifers. $4.25#4.75: good cows all weights. 52.50# 3 Calves—Receipts. 400: market, stronger; trade active; choice to prime. $73 7 50; choke to good. $6 50 ®7. Sheep—Receipts. 1.500; market active around top levels: few best springers selling above M 1 .35 top: choice wethers. $2.50® 3.2a; choice spring lambs. *7.75<g8.35; good to choice. *7®7.75. Hogs—Receipts. 1,500; market active and fully steady medium and heavies, $3.70; choice butchers. $3.85; light butchers. $4.25; choice yorkers, $4.25; pigs, $3 #3.25. *—•

—Today and Tomorrow — Future of Recovery After 1935 Is Problem Now Facing United States. BY WALTER LIPPMANN

THE federal government keeps its accounts on a yearly basis, but the fiscal, or bookkeeping year, is not the same as the calendar vear. When, for example, the President speaks of the budget of ”1934.'’ he does not mean the income and expenditure between Jan 1. 1934. and Dec. 31. 1934. He means the income and expenditure which began July 1 of last year, that is 1933. and end June 30 of this year. Thus six months from now, though the calendar will still say that it is the year 1934. the government will be operating under the budget of ”1935.” A year from this July, namely July, 1935, it will be operating under the budget of “1936.”

Unless this distinction is fixed clearly in mind, it is impossible to obtain a clear picture of the situation. It follows that the budget message is delivered at the beginning of the calendar year 1934. but in the middle of the fiscal year 1934. So it tells us first of all what has been spent and taken in during the past six months and what is almost sure to be spent and taken during the next six months. BBS NOW it is this “1934" budget which shows the enormous expenditure of 10.5 billions of dollars, of which 7.5 billions are not covered by income, 'nave to be borrowed, and are therefore a deficit. Let us fix in mind, then, that we are half way through the fiscal year in which the great expenditures are planned and the great deficit is being incurred.

It is the “1934" budget, which ends next June, that is to raise the national debt from 22.5 billions to 29.8 billions, the largest increase in so short a time ever recorded in time of peace. This deficit, it must be understood, is, so to speak, over the dam. Except for an additional 1.1 billions which the President js going to ask this congress to appropriate, the deficit was authorized last winter and spring. Bad or good, 90 per cent of the expenditures, and about 85 per cent of the deficit, were decided upon many months ago.

BUT the message does not merely tell us what is to be spent before June. It tells us also what is to be spent in “1935,” that is between July 1 next and the following June. This is a forecast, of course, based on estimates- But it is the most important part of the message, because it covers not what has been decided upon in the past, but what has been decided upon for the future. It is here that the financial program of the administration reveals its fundamental policy. The disclosure is of transcendant importance. We learn here in definitive form that the gigantic expenditures of this year are being made to stimulate a business recovery based upon private enterprise for reasonable profit. The proof of this is contained in two major decisions which the “1935” budget announces. One is that the public works program is to be completed, but not in any important sense expanded. This can mean only that the President looks forward confidently to the revival, with eighteen months, of the heavy industries through the resumption of private investment. The other, which is even more significant, is that the great banking operation performed by the RFC are to be completed, but not in any important sense expanded in 193435. This can mean only that the President looks forward confidently to a restoration of the functions of the banking system as the provider of capital and that he has no plans or intentions for setting up in Washington a permanent management of the capital market. a a tt THIS budget proves, as no amount of theoretical speculation could prove, that the President’s conception of social reconstruction looks toward a growth of self-government and co-operation and a reform and policing of the abuses of individualism rather than toward a planned collectivism from Washington. Were he working toward any such revolutionary idea, he would not bring forward a budget for 1935 which is based on the principle that the government is to retire rapidly within a few months from the field of contruction and financing of capital goods. This is a binding commitment. For when this congress votes the appropriations asked for in this message, it will be the law of the land- Nor would he commit himself, as he has done, to the specific promise that six months before he next faces the electorate in the campaign of 1936 the budget will be balanced because emergency expenditures have ended. In appraising the size of the debt which the President intends to create in the course of the next eighteen months, we start, then, with the basic fact that what the President intends, and has commited himself to, is the rapid decrease of government expenditure and a concurrent rapid increase of ex-; penditure through private investment. The question then is: Can he do what he hopes to do? nan IT is the fashion to say that the deficit is being incurred in a war against depression. That is its unmistakable purpose. But war deficits always have had serious consequences. They create a tremendous demand for goods, raise prices and create new prosperity; when the government stops spending there is after every war a big slump. War deficits, also., are incurred in such a way as to create obligations, chiefly to veterans, which in our history tend to grow rather than diminish, so that they leave behind a heritage of expanding expenditures. We have, therefore, to ask ourselves whether we are creating an i artificial prosperity by government spending and whether under AAA and CWA and other establishments j we are creating vested interests which will tend to become permanent. Before any one can be assured about the soundness of the financial program he must make up his mind on these two points: Are we getting a recovery which after 1935 will be maintained, as the President promises, without emergency expenditures. And, are we fastening upon the treasury large bodies of influential voters who will claim they have established rights for all time to come? If we could answer those two questions conclusively we could really appraise the financial future. (Copyright. 19341 CHICAGO FRI'IT MARKET By Cnited Press CHICAGO. Jan. 9—Apple*—Michigan Jonathans. Sl# 150: Mclntosh. $1 50 31.85. Carrots—lllinois, 506 60c bushel. Spinach —Texas. 50c®51.15 bushel Beans—Southern green. $1.75# 2.15; wax. $2 2532 75. Mashrooms—lllinois. 15®25c-lb cartons. Cucumbers—Southern. $2.753 3 85: hothouse. s3® 4. Tomatoes—Floradio, s2® 2 75; niinois and Ohio hothouse. 90c® $1 25. Leaf Lettuce —Illinois hothouse. 12%c box: Ohio. 40c (10-lb.). Celery— Michigan. 35®85c square crate. Cabbage— Wisconsin. $2.35 (100-lb. i. Sweet Potatoes — HUnois, $1.2531.50; Indiana, $1.50® 1.90. Onion Market—Western Valentiae. $1.25® 1.50. Central Western Yellows, $1,20® 1.35; Western Whites, $1.6561.75,

; v /T -V '.,.-/"' j

The City in Brief

TOMORROWS EVENTS Kiwanls Club, luncheon, Columbia Club. Lions Club, luncheon, Washington. Purdue Alumni Assoriation, luncheon, Severln. Twelfth District Legion, luncheon. Board of Trade. Mutual Insurance Association, luncheon, Columbia Club. Associated Employes, 6:30 p. m., Washington. Gone, but Not Forgotten

Automobiles reported to police as being stolen belong to: J. W. Farlow, 624 Exeter avenue. Dodge sedan, 24-188 (34), from Michigan and Pennsylvania streets. H. Rhodes, 802 West North street, Chrysler half-ton truck, from West and Ninth streets. Harry Glass. 719 East Southern avenue. Essex sedan, 112-683 (34). from the rear of 719 East Southern avenue. Jesse Floyd, 312 East Walnut street, Ford coach, 12-790 (34), from In front of 1011 East St. Clair street. Edwin Bowden, 1451 Central avenue, DeSoto sedan. 82-760 (34), from Pershing avenue and Howard street. Harry S. Campbell, 1027 South New Jersey street, Chevrolet coupe. 126-590 (33), from in front of 1027 South New Jersey street. M. A. King, Brownsburg. Ind.. Ford sedan, 13-766 (34), from Brownsburg. Ind. Anna Murphy. 330 Lincoln street. Essex coach, 19-707 (34), from New York and Agnes streets. Howard Lang. 430 North Temple avenue. Ford coupe, from Fountain Square.

BACK HOME AGAIN

Stolen automobiles recovered by police belong to: Terry Wooden. 345 West Twelfth street, Nash Sedan, found in front of 612 West Ninth street. Auburn sedan, Ohio license B-19686 (34). found in front of 625 Eddy street. R. T. Ulmer, North Vernon, Ind., Ford coach, found in dumps at the south end of West street. George Marfenbacher, 972 Dorman street, Chevrolet coach, found at Twentysecond and Montcalm streets, stripped of two front tires and other parts. M. McHaffey, 3228 East New York street. Chevrolet coach, found at 15 South Sherman drive. Wesley Link. 528 Fleming street, Chevrolet coupe, found in front of 227 Minerva street. Dr. Christian Olsen, 805 Hume-Mansur building, Hudson coach, found in front of 20 Massachusetts avenue. Ford coupe. 93-396, found at Thirtieth street and Macpherson avenue. STATEHOUSE PAY ROLL DUPLICATIONS SCORED Representative Calls Actions Constitution Violation. Indiana legislators who have “cashed in” on their positions by obtaining appointments to statehouse jobs were assailed yesterday by H. H. Evans, Newcastle, Republican representative from Henry county, in a talk to the Perry Township Council of Republican Women. Speaking at the home of Mrs. Charles Mann, Bluff road, Mr. Evans asserted that such a practice as drawing two state salaries is in violation of the state Constitution. He named thirteen state senators and twenty-four representatives who have received appointments and still are members of the general assembly. Mrs. Louis Markun, Marion County Council of Republican Women, president, also spoke. OVERWORK IS FATAL TO NEW YORK CWA CHIEF Travis H. Whitney Dies in Hospital After Collapse at Desk. By United Press NEW YORK. Jan. 9.—Travis H. Whitney, 58, civil works administrator, died last night in the Post- j Graduate hospital where he was taken Saturday after collapsing at j his desk from overwork. He became head of the New York administration Dec. 5 and had been constantly at w r ork, even nights and I holidays. REPAIR GERMANIA HALL Much Social Activity to Follow Alterations; Bar Goes In. Old Germania hall, 39% South' Delaware street, long a landmark in the city, is undergoing a renovation and redecoration. An echo of the past, a bar is being installed. Oldfashioned dances and card parties will be featured every Saturday night. In the Air Weather conditions at 9 a. m.: West wind. 11 miles an hour; temperature, 24; barometric pressure, 30.20 at sea level; general conditions, overcast, occasional light snow; ceiling, estimated 1,200 feet; visibility, 7 miles. Rate Reduction Is Sought Petition for reduction in telephone rates charged in the city of Huntington by the Indiana Bell Telephone Company was filed yesterday! with the public sendee commission.! It was signed by about 600 persons, j Reports s9l Robbery Police today were investigating report of Frank Martin. 42. Lebanon, that he was robbed of s9l by a Negro girl at 319 North West street. The house was found to be vacant. Woman Threatens Suicide Indianapolis police today were asked to warn hotels here to be on the lookout for a woman, about 40, who left a note threatening suicide last night at a hotel in Noblesville.

WHEAT VALUES RISE FRACTIONS IN LIGHTSALES Longs Expect Improvement in Flour Trade; Corn, Oats Higher. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. Jan. 9—Grain values followed the pace set by opening stocks today and advanced frac- ; tionally as operations began on the Board of Trade. Wheat futures were % too % cent higher: corn was up % to % ! cent, and oats was % cent higher. Stocks were strengthened by an 1 upturn in tobacco issues. Leading grain brokers were of the opinion, however, that the market would be quiet until some definite monetary announcement comes from Washjington. Opinion prevails that most longs were holding on in expectation that the looked-for improvement in the flour trade will help their position, j as will a continuation of present unfavorable crop conditions in the southwest. Chicago Primary Receipts —Jan. 8 — Bushels . Today Last Wpels "neat 342.060 Holiday Corn 519.000 Holiday j Oats 192.000 Holiday Chicago Futures Range —Jan. 9 W’heat— Prey. High. Low. 10.00 Closa. May 85 .84% .84% .84% July 83% .83% .83% .82% Sept .84% .84% .84% 84 CORN— May 52% .52 .52% .51% July 54 .53% .54 .53% Sept 55% .55 .55 .54% OATS— May 37% .37% .37% .37% July 36 35% .35% .35% Sept .. .. .34% RYE—- ! May 58% 58 58% .57% July 59% 59% .59% 59% Sept 58% j BARLEY— May 92 .91% .92 .91% July ... .. .51% CHICAGO CASH GRAIN By United Press CHICAGO. Jan. B. —Cash grain: Wheat —No. 2 hard. 84%c. Corn (old) —No. 2 yellow, 50%® 51c; (new) No 2 mixed, 50%c; No 3 mixed. 49%c; No 2 yellow. 50%c: No 3 yellow. 48%®49%c; No. 4 yellow. 48%®49c; No. 3 white 49%®49%c. Oats—No. 2 white. 37%37%c; No. 3 white. 36®36%c: No. 4 white. 35%c. Rye —No sales. Barley—so® 78c: quotable. 48® 80c Timothy—ss 50® G Clovarseed —51®14.25. Cash provisions—Lard, $5.35; loose. $4.62. leaf. $4.62: S. bellies. $6.12. ST. LOUIS CASH GRAIN By United Press ST. LOUIS. Jan. B. —Cash Grain: Wheat —ln good demand, steady; No. 2. red, 89® 89%c; No. 3. red, 89c; No. 2, garlicky. 85® 89c; No. 3, red garlicky. 85#86; hard wheat nominally lc lower: No. 2. hard, 84c bid and 85 asked. Corn—ln good demand, steady; No. 2. yellow. 50®51c; No. 3, vellow. 49®50%c: No 4. yellow, new. 47c: No. 4. yellow, old 49%c: No. 5. yellow, old. 49c: No 6. yellow, old. 48; No. 2. white. 50c: No. 3. white. 49%c. Oats—ln good demand. %c higher; No. 2, white. 39c; No. 4. white. 37%; No. 2. red, 39; No. 2, burt, 39c. TOLEDO CASH GRAIN By United Press TOLEDO. Jan. B. —Grain close: Grain in elevators, transit, billing: Wheat—No. 2 red, 87%®88%c; No. 1 red, ll%c premium. Corn—No. 2 yellow. 53%®54%c. Oats—4o®4lc. Track prices. 28%c rate; Wheat—No. 1 red. 84®84%c; No. 2 red, 83®84c. Corn-No. 2 yellow. 49®51c; No. 3 yellow. 48®50%c; No. 4 yellow. 47® 47%c: No. 5 yellow. 46®46%c. Oats—No. 2 white. 37®38%c; No. 3 white. 36%®38c. Seed close: Clover—March, $8.25. Alsike— Cash, $8.50. NEW YORK CASH GRAIN By Unitch Press NEW YORK. Jan. B. —Cash grain: Wheat—No. 2 red, $1.00%: No. 2 hard winter. $1.00%. Corn—No. 2 mixed. 59%ci Oats —No. 3 white. 46%c. Indianapolis Cash Grain —Jan. 8 — The bids for car lots of grain at the call of the Indianapolis Board of Trade f. o. b.. shipping point, basis 41% New York rate, were: Wheat—Steady. No. 1 red. 81%®82%c; No. 2 red. 80%®81%c; No. 2 hard. 80% ® 81%e. Corn—Steady; No 3 white. 42%®43%c: No. 4 white. 41%#42%c; No. 3 yellow, 42 ® 43c: No. 4 yellow. 416 42c; No. 3 mixed. 41# 42c; No. 4 mixed. 40® 41c. Oats—Steady: No. 2 white. 33%®34%c: No 3 white. 32% 4/ 33 %c. Hay—Steady. (F. o. b. country points taking 23 %c or less rates to Cincinnati or Louisville 1 . s7@7so hr N °' *’ * 7 ' 50,K8: No * 2 timothy. —lnspections Wheat—No. 1 red, 3 cars: No. 2 red. 2 cars; No. 2 mixed, 1 car. Total. 6 cars. Corn—No. 4 white. 2 cars: No. 2 vellow 3 cars; No. 3 yellow, 4 cars; No 4 vellow 13 cars: No. 5 yellow. 1 car; Sample yellow, 1 car; No. 6 mixed, 1 car Total 25 cars. Oats—No. 2 white. 10 cars; No. 3 white. 7 cars. Total. 17 cars. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 76 cents for No. 2 soft red wheat. Other grade* on their merits. NEW YORK COFFEE FUTURES —Jan. 8 — SANTOS , _ High. Low. Close. March 9 28 9 18 9.28 May 9 41 9.34 9 41 July 9 52 9 40 9.52 September 9 83 9.74 9 83 December 9 94 9.87 9.91 RIO January g 55 March 669 6’ 57 669 May 6 85 6 78 6 84 July 6 98 6.87 6.97 September 7 10 December 7,22 7ii i.22 PRESBYTERIAN CHURCH TO HOLD FORUM SERIES Responsibility Toward Movies Topic for Fourth Discussion. A series of open forum meetings, preceded by dinners, will be held in the First Presbyterian church four Thursday nights, beginning Jan. 11. Speakers scheduled are Dr. E. G. Homrighausen. professor of modern Christianity at Butler university, Jan. 11; Dr. Tolbert F. Reavis, professor of sociology at Butler, Jan. 18, and Ray D. Everson, managing editor of the Indianapolis News, Jan. 25. The final meeting will deal with the responsibility of the church for the charactqt of moving pictures. No leader for this meeting has been announced. The church nursery will be open to receive and care for small children during the meetings. Stonecutters Seek More Pay By United Press BLOOMINGTON, Ind., Jan. 9. Demands for higher wages when their contract expires April 1 will be made by limestone workers, officers of the Journeyman Stone Cutters’ Association, have announced here.

Lippmann

COLLATERAL / Y/n LOANS * / No Co- Makers Repaid Over a H hoi* Veer The Indianapolis Morris Plan Cos. 8. E. Corner Delaware and Oft in Ma Rl. 1538. Van i V

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