Indianapolis Times, Volume 45, Number 217, Indianapolis, Marion County, 19 January 1934 — Page 28

PAGE 28

Currency War Between England and United States Not to Be Expected or Desired. BY RALPH HENDLRSHOT Timn Special Financial Writer

England has an equalization fund of about $1,750,000,000 at the current rate of exchange set aside for the express purpose of managing her currency in the foreign exchange market. The United States will have a fund of $2,000,000,000. part or all of which may be used for the same purpose if President Roosevelt's suggestions to congress are enacted into law. While the two great nations have girded themselves for a foreign exchange war. it is hardly reasonable to

expect that they will actually go into conflict. Such a conflict would achieve relatively little from an international currency point of view. Itmight even aggravate the stiuation so that hope of final adjustment would be out of the question for years. And in the meantime France probably would be drained of all of her gold, and she, too, as well as the other nations of the world, would be obliged to join the race. And after the most powerful nations got the gold they would be obliged to figure out some way to redistribute it if it were to continue to serve as a basis for currency or as a means of balancing international trade. It would be like a poker game in which all of the participants were broke but two or three and the play would have to stop. England has had her equalization fund for quite some time. She has been able to depreciate her currency in terms of French francs about 35 per cent. We have had no equalization fund, but have been able

I * \

Ralph Hrndershot

to depreciate our currency more than 38 ‘2 per cent in terms of French francs. England has used money, and we have used talk. One has been about as effective as the other. a a a a a a Job Not Yet Completed But, of course, neither country has completed its Job, although England is in a more favorable position than the United States. Our chief difficulty will come when we finally stabilize officially at some definite spot. The capital which has been sent out of this country for safe keeping, and probably a considerable amount of speculative world capital, will seek admittance into the United States. And since the ability of a country to maintain its currency on a gold basis at a fixed price is determined by the amount of gold it has, and since the United States and England would secure the bulk of the world's gold if they got into a real currency conflict, the two countries would have difficulty in keeping other capital out. In the first place .they would not want thus outside capital, and, in the second place, to permit its entry they would have to accept the currency of other countries in exchange for dollars and pounds. The whole thing would be in such a mess before they finished that they would have difficulty in ever getting it unravelled. It might even cause gold to be thrown out perm. nently as a currency base. a a a a a a Home Loan Bonds The New York Produce Exchange listed Home Owners’ Loan Corporation 4 per cent bonds last Saturday. Since then $49,650 of the bonds have changed hands in that market. While this is not an imposing total, it represents a substantial improvement over the markets previously available for the issue. A good market for the bonds is essential if mortgage holders are to.be expected to take them in exchange for their mortgages.

New York Stocks "" " " 'By Abbott, Hoppin £ Cos. I

—Jan. 19Prev. Oil*— High. Low. 10 30. close. Amerada ....... .. ... ... <5 Atl Rfg 30 1 4 30‘, Barn dall ... B'a B*2 Consol Oil 10’, 10’, Cent of Del 17’w 17* Houston tnewi 4t Houston iold(.. .. ... 24 23}* Indian Rfg ... 3 Mid Cont Pet .. 12'a 12* 12'a 12*, Ohio Oil 13 s , 14 Pet Corp 16', 16', 10*4 16 Pure Oil 11'* 11* 11’* 11*, Roval Dutch 36*2 Sbd Oil 29 * 29*4 Shell Un B’, Simms Pet 9 J * Soc Vac ....... .. ... 16'-* 16*2 SO of Cal 38* 39 S O of N J 44*2 Sun Oil 35 Texas Corp 25 25 s . Ttdewater Assn 9 7 9 s a Un Oil of Cal 18’ a Steels— 1 Am Roll Mills 21** 20 , Beth Steel 43 42'a 42*. 42'a Byers AM 27'* Col Fuel & Iron 6V* Cruc Steel 25 Inland Steel ... . 46 Ludlum Steel .... 16' i McKeesport Tin 87' 4 Natl Steel 56\ 56 Rep Iron A Steel .. .. 18’, 18*4 Rep Ir & Stl pfd 48 47’, 42 47 s , U S Smelt 100** 99 100*, 99 Vanadium 24‘ Mid Steel 14* 2 U 8 Pipe A Fdv 23’, 24*4 U S Steel N 53’, 53> V S Steel pfd 94’, 94’* Youngstn S & T .. ... 25 25 Rail*— Atchison ... 67’, 66*4 Atl Cst Line ... 47 46* 4 47 46** B & O 27', 27*. Can Pac 15’, 16 Ch A Ohio 43’, 43’2 chi & at w 4 3% 4 3’, C M A St P 6 6‘, C M A St P p . 9*2 9'4 9‘* 9*s Chi N W 9' 9’, 9'a 9*2 Chi R Isl 4>. 4*, Del* A Hud ... .. 63', 63 Erie 19*4 19 19* 18 s * Ort North pfd 25 24 r * 111 Central 34> 34' K C Sou 17*, Lou A Nash.. 55'4 M K A T 12'. Mo Pac 4'* 4*2 Mo Pac pfd 6*4 6'2 N Y Cent 37’, 37*, 37’, 37', N Y Chi A St L 18 N Y Ch A St L p .. 23 22 , N Y N Haven. 19 18’e 19 18 s , N Y Ont A West 10 10 Norfolk A Wes 173 Nor Pac 27 26 s , Penn R R 35S 35'* 35** 34*, Reading 54 Sou Pac 25*4 25*2 25*4 24' 2 Sou R R 29*4 29 29*. 29 Sou R R pfd 35> Union Pac 123 Waash 3 s * 3*2 West Marvl 10*. 10'a Motors— Auburn 52'* 52 52'j 52*. Chrysler 55 54> 54’, 54*. Gen Motors 37 36*, Graham Mot ... ... 3*, Hudson 16 s . 16*. Hupp 5*2 Mack Truck 36 s , 36 Mash 29*4 29 Packard 4*. 4 4* 4* Reo 3*4 autdebaker 7 7 Yellow Truck s'. Motor Acceao— Bendix 19*, 18*. Bohn Alum 62 Borg Warner 24' 24 Briggs 13*, 13‘, Bud a Wheel 3’, Eaton Mfg . 15*. 15S Elec Autp Ut. 27-t 22*. 22’, 22*2 Band K 4* Mullins Mfg 17*4 Murrav Body ... 7* 7*2 Stew Warner 7*. Timken Rol ... 33’, 33‘, Mining— Alaska Jun _ ... 32*, Am Smelt 44*2 44** 44'* 44'* Anaconda 16', 16 16*, 15*, Cal A Her la . s*. s*, s*. 5 Cerro De Pasco 35*, 35 Granbv 9'* 9 s * Ot Nor Ore ... 12** Homestake Min 324 Howe Sound 3.** Ins Cooper • s'* Int Nickel 22*4 22*4 Kocr.ecott Cop. 21’, 21*, 21 s , 21'* Noranda Cop .... .. 34', 33*. Phe.ps Dodge .. 17** 17** 17'* 17** Pitts Coal 4 Tobacco*— Am Snufl 50 * Am Sum T0b,... .. Am Tob A ..*. 69*4 Am Tob B 72* 72 72* 71 * Oen Cigar 29'* Ligg A Myers B S3** >3 Lornliard 17 Reynolds Tob B 40 s , 41 Fauipmento— Allis Chalmers.. .. ... 19’* 19’a Am Car A Fdy 28** 28 Am Loco 31** Am Mach A Fdv 15'* Am Steel Fdv 23 s * Bald Loco 13** 13 Burroughs 16’, 16* Case J I 76* 76'a 76', 75’, Cater Tract 26*2 Colas • Palm Pcet 13* 13*4 Congoleum ... 26** 26** 26'4 26 Elec Stor Bat 50 51 Potter Whoe'er 15'* 15*4 Gen Am Tank C .. ... 38 <7*n Bee 21*4 21 s * 21 21 s * "ten R R S.g .. 39' 2 39 igsc- Rand 67'* 67', 67’, 67 nt Bus Mach 146'* Int ' Harvester 42’, 41** Kelvinator 12’, ... Natl Cosh Reg 20 19’, Proc A Gamble 39** Pullman Inc ... 57*, 57*, Simmons Bed 20*. 20*, M Elliot 49*4 West Atr B 33*4 S3', Westsngh Elec 41’, 41** Worthington P.. 26 UMUtieo— Am A Ftr Par.. .. ... 9 g*. Am Power A L 8 7', A T J* T ANARUS„.„ H7‘o 1” Am Bat Wk, It, Brook Un Gas.. 70', CM Gas A E 1... ” TI. 14 13’I Col G A E pfd. I: 67 Com A Sou 2*4 2>, Cmuol Oas .... .. ... 49 1 3 Bee Par ALB .. ... ... 6*^ {** TA! T. I*’, 15*4 Liu O A E <AI 16', i*t pwr a ut..:: n Am+r ... ... ITS ITS £•jJfß-... U'% lIS Pb Serv N J 39 SO Ca! Edison 19H 19S Qpo ... On* pf and S OBltod Coro s 6* 1 U (Hi Imp 17 17 WBr A L lAt J*, 34* 34, 3* 1 Bfcaurn Union.. 60 M’ 59’* s**

Wall Street

Rubbers— Firestone 22% 22 Goodrich 15 > 2 15 v 2 Goodyear 38% 38% 38% 37% U S Rubber ... ji. in U S Rubber pfd .. 29% 29% Kel Spring , F 3vi 3% Amusements— Crosley Radio io% Fox Thea 141 Loews Inc 27% 27% 27% 27% Radio Corp 7% 7% 7% 73, RKO ... ... j % Warner Bros • 57Foods— Am Sugar 52% Armotir A 5% 52, Beatrice Cream. .. ... 13% 131, Borden Prod ... 23 22% 23 22% Cal Packing 22% 22% Canada Dry G A 26 Coca Cola 977* 93 Cont Bak A 10% Corn Prod 78% Crm of Wheat 30 30 Gen Foods 35% 35% 35% 35% Gold s>ust ... ... 19 % G W Sugar 34 33% 34 33 Int Salt 23% Loose Wiles 43 43 Natl Biscuit ... 49 477, Natl D Prod ... 15% 15 15% 15% Purity Bak .. . 16% 15% 16% 16 S Porto Rico S 37 36% 37 36% Std Brands 22% 22% 22% 22% United Fruit 62% 62’* Ward Bak A 5 Wrigley 56% Retail Stores— Ass Drv Goods 13% Best & Cos 29% Gimbel Bros ... ... 4% Gr Un Tea 5% 5% 5% 5% Hahn Dept Sts.. .. ... ... 5% Jewel Tea ... 45% Kresge S S ... 15 Kroger Groc ... 27% 27% Macv R H 54% Mav Dept St 34 % Mont Ward 25% 25% YPenny J C 57% 57% Safeway St 48% 48% Sears Roebuck 45% 45% Woolworth 46 (a Aviation— Aviation Corp 8 8 Douglass Air ... 17% 17% Curtiss Wright 2% 2% 2’, 2 7 , Curtiss Wri iA> 6% 6% Nor Amer Av... 5% United Aircraft.. 32% 32 32% 32% Chemicals— Air Reduction 102 Allied Chcm 152 150% Am Com Alcohol 57% 56% 56% 57 Col Carbon .. ... 62% 63% Com Solvents 33% 33% 33% 33% Dupont 99 98% Freeport Tex 45% Liquid Carb ... ... 27 Math Alkali 36% 35% 35% 35% Tex Gu'.f Sulph. .. ... 39% 40 Union Carbide.. .. ... 49% 49% U S Indu Alco 57% Natl Dist I new 1 25% 25 25% 24% Drugs— Coty Inc 4% Drug Inc 2 Lambert 26% 26% Lehn & Fink .. 17% Zonite Prod 6% 6% Financials— \ Adams Exp ... .1 9% Alleghany Corp. .’. 4% Chesa Corp 39% 39% Transameyca .... ... 7% 7% Tr Conti Corp.. .. ...' 5% 5% Building— Am Radiator ... 15% 15% IS’* 15% Gen Asphalt ... 17% 17% Int Cement ... ... 34’* Johns Man vilte 63% 62% 63% 62% Libby Owens Gls 41% 40% 40% 40% Otis Elev 16% Ulen Const 3 3Vs Miscellaneous— Am Bank Note.. .. ... ... 17 Am Can 99% 99 Anchor Cap 21% Brklyn Man Tr 32 32 Conti Can 80% 80 Eastman Kodak. .. 85 80% Owens Bottle 83% 83% Gillette 10 Glidden 17% 17 17 17% Gotham Silk 8% Indus Rayon ... 85 Inter Rapid Tr 11 % Reai Silk Hose :9% New York Curb Bv Abbott. Hoppin & Cos. —Jan. IS— Close Close. Allied Mills . 9 Ort A A P .. 136 Alum Cos of Am 83 Glen Alden Coal 12% Am Beverage 2% Gulf Oil of Pa 66% Am Cvanidr B 17% Hiram W’alker . 53% Am & For P W 6% Hud Bay Min.. 9% Am Gas A El . 25% Humble Oil . 36% Am S'jperpwr 2% Imperial Oil Ltd 13 Ass Gas & El *< Int Petrol 20% Atlas Corp 12% l.ake Short Mm 4’ Axton Fish Tob 65% Libbv Me Libbq 4% Brit Am Tob A 28% Mt Producers . 4% Bnt Ce’.anese. 3% Natl Bell Hess. 2% Can Ind Ale A 18% Newmont Min . 53 Can Marc .... 2% Nia Hud Pwr 6% Ci-ies Serv 2% Novadal Agene 63% Commonwith Ed 50 Pan Am Airways 45 Con O of Bit . 59 Penn Road 3% Cord Corp . ... 7% St Reg Paper. 3% Creole Petrol . 11 Sal Creek Prod 6% Crown Cork Int 6% Sherwin Wins.. 55 Deere * C 0... 30% Std of Ind 31% Distil Lim 20 Std of Kv ... 15% Distill Corp .. 23% STutr Mts 7’* Dow Chem ... 74% Technicolor Ind 94 El Bnd A- 8h . 19% Teck Hugh Gold 6 Fish Rubber . 11% Un Pw & Lt A 4% Ford of Can A 18% Wright Har Min 7 Ford of Europe 5%

Federal Farm Loan Bonds

-Jm It - By Biylh & Cos., Inc. Bid. Ask. 4s Nov. I, 1957-J7 89>3 91> 4 4* Mav 1. 1958-38 89' 2 91'* 4'S July 1. 1956-36 89> 90 s , 4,s Jan. 1. 1957-37 89*2 90 s , 4 ! ,s Mav 1. 1957-37 S9'2 90’* 4*s Nov. 1. 1958-38 89'* 90 s , 4'2S Mav 1. 1942-32 94 95*, 4'is Jan. 1. 1943-33 92 93', 4>,s Jan 1, 1953-33 92 93-* 4'iS Julv 1. 1953-33 92 93', 4>.-s Jan. 1. 1955-35 92 93', 4'is Julv 1. 1955-35 92 93', 4'iS Jan. 1. 1956-36 92 93' 4 s ,s July 1. 1953-33 93", 95 4 s s Jan. 1 1954-34 93 s , IS 4",s Julv 1. 1954-34 93 s , 95 5s Mav 1. 1941-31 97 s , 99 5s Nov. 1 1941-31 97 s , 99 Home Loan 4s. Julv 1. 1951 ... 92'* 93 s , NEW YOBK RAW SIC.AR FITCHES —Jan. 13— High. Low Close. January 1.30 1 26 1 23 March 1 36 1 30 1 33 May 141 137 1.33 Julv 1 47 1 42 1.44 September , 1.51 L 47 1.4 C December .. 1.58 " - 1.55

STOCKS SHOW FIRM TONE AS DOLLAR DROPS Majority of Issues Advance Fractions; Hudson at New High.

Average Stock Prices

Avers** of thirty industrials for Thursday. High 104 48. low 102 50. close. 103.30. off 20 Average of twenty rails: 47.01. 48 94. 46.34 up .05 Average of twenty utilities 26 4i, 25 70. 25 88 off 25. Average of fortv bonds 88 14 up 26 Average ot ten first rails: 94 16. up .37. Average of ten second rails: 75.81, up .76 Average of ten utilities 93 26. off 41. Average of ten industrials. 89 32, up .30. BY ELMER C. WALZER United Press financial Editor NEW YORK. Jan. 19.—Prices firmed up small amounts at the opening on the Stock Exchange today as the dollar broke sharply in terms of sterling and dipped smaller amounts in relation to other currencies. United States Steel common rose to 53 7 x on the first sale. Other steels ruled steady to firm. New York central was up % at 37% on 1000 shares in a higher railroad group. Coppers continued active, the first sale of Anaconda was 3,500 shares at 16, up Rubbers extended yesterday's gains. Cuban issues, notably the sugars, forged ahead in hopes of early United states recognition of the new Suban regime. Farm equopments advanced. Hudson made anew twoyear high in the automobile group where General Motors was up M at 37 on a block of 4.000 shares, and Chrysler held unchanged at 54 U. Wet stocks ruled steady; gold mining issues advanced; chemicals rallied under the lead of Allied Chemical which rose I V* to 152; Liggett & Myers B was up ft at 83 1 a in the tobaccos. Western Union made a small gain in a steady communications group; utilities were moderately active with prices slightly above the previous close. During the early trading prices firmed up from the opening levels. Steel common held its initial gain, while Chrysler picked up, and Radio made a small gain after opening unchanged at 734 on a block of 2,500 shares. Atchison was bid up 114 to 68. Cuban American sugar reached 6*4, up Du Pont 99, up %; American Telephone 117%, up % after opening at 117%, and American Smelting 44%, up %.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 18— SSSIL ng * *1,304.000.00 L,ebits 4,628,000.00 TREASURY STATEMENT By United Press WASHINGTON. Jan. 19.—Government expenses and receipts of the current fiscal 5^ ar j to jßt1 ' „ 17 - compared with corresponding period of the previous fiscal year; Tis year Last year Expenses *3.255.257.439.62 *2.897.954.632.16 Receipts *1,612.630.729 69 $1,098,985.958 97 Deficit .. .*1,642.626,710.02 $1,798,968,673.19 balance * 625.965.900.39

Foreign Exchange

Abbott, Hoppin <fc Cos. —Jan. 18— , Close Sterling. England *4 97 Franc. France 0626 Lira. Italy 0837 Belgios, Belgium 2220 Mark. Germany 37n Guilder, Holland 6410 Peseta. Spain !1320 Krone, Norway 2505 Krone. Denmark '2225

Investment Trust Shares

(By Abbott, Hoppin <fe Cos.) ■ —Jan. 18—■ Bid. Ask. American Bk Stocks Corp ... 1.05 110 American & Gen Sec A .... 5.00 600 American <fc Inv Tr Sh 1.50 2.50 Basic Industry Shares 3.48 3 60 British Ifc-pe Inv Tr Sh 60 .70 Collateral Trustee Sh A .... 4.75 500 Corp Trust Shares loldl .... 212 216 Corp Trust Sh mewi 240 245 Cumulative Trust Sh 420 Diversified Trust Sh A 6.12 Diversified Trust Sh B 8.00 825 Diversified Trust Sh C .... 320 330 Diversified Trust Sh D 5.00 515 First Insur Stock Corp 1 35 1 40 First Com Stock Corp 83 98 Fixed Trust Oil Sh B 8 80 8 90 Fixed Trust Oil Sh B 7.65 7 85 Incorporators Invest 18 39 19 97 Land Bank Bond Shares .. .93 103 Low Priced Shares 605 615 Mass Inv Trust Shares 18.63 20 24 Nation Wide Securities 3.30 340 North Amer Trust Sh is3t .. 185 North Amer Trust Sh <SB > .. 2.65 2.90 Selected Amer Shares 287 Selected Cumulative Sh .... 7.10 Selected Income Shares 3 60- 400 Std American Tr Sh A 3 00 3 15 Trust Sh of America 2.90 3 00 Trustee Std Oil A 5.25 5.35 Trustee Std Oil B 5.00 5.10 U S Elec L & Pwr A 11.50 11.75 Universal Trust Sh 3.05 3.15

U. S. Government Bonds

By United Press NEW YORK Jan. 18.—Closing liberties. 1 Decimals represent thirty-seconds.) Liberty 3%s (32-47) 101. First 4%s (32-47i 101 27 Fourth 4V*s 133-38> 102.11 Treasury 4%5-3%s (45) 99.5 4%s 147-52) 105.30 3%s .43-471 99.30 3%s .41-431 March 99.28 3%s .40-43. June 99.27 2%s .41. 99 50 3%s .46-491 97.14 3s (51-55. 96 2

Daily Price Index

By United Press NEW YORK/ Jan 18.—Dun & Bradstreat's commodity index of thirty commodities compiled for the United Press .1930-1932 average. 100': Todav 104.01 Yesterday 104.18 Week ago t 102.48 Month ago 98.92 Year ago 68 83 1933-1934 high .July 18. 113.52 1933-1934 low (Jan 20l 67.86

Retail Coal Prices

The following pnces represent Quotations from leading Indianapolis coal dealers A cash discount of 2s cents tier ton is allowed. DOMESTIC RETAIL PRICES Anthracite 814.25 Coke nut sire 875 Coke, egg size 8.7a Indiana, forked lump 5.0 Indiana, egg 508 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 825 Pocahontas egg 8.25 Pocahontas forked lump 925 Pocahontas mine run <.25 New Rher smokeless 8.25 West Virginia tump 6.7$ West Virginia egg *.se Island Creek 7.00 Extra charge of 80c a ton for wheeling coal, and 51 a ton for coal carried to DIR. NEW YORK COFFEE FITCHES —Jan. 18— High. Low. Close. January ... 9.41 March 9 59 9 54 9.57 Mav 9 85 9.72 9 75 Julv 10 01 9 85 9 87 September 10 22 10 16 10.21 December 10 33 10.26 10.33 RIO January ... 6.78 March 7 01 6 91 6 94 Mav 7 25 7.12 7 12 i u y 7.24 September 7.41 7.38 7.38 , December 7.C3 7.53 7.53 1

THE INDIANAPOLIS TIMES

Bright Spots

By Abbott. Hopnin A Cos. Louisville & Nashville Railroad Company November net incoma after payment of all charges totaled $6,369, against $78,923 in November of 1932. United States Pipe and Foundry preliminary report* for the year ended Dec. 31 shows a loss of $24,443 after depreciation, interest and taxes, to which has been added $47,010 for dividends on shares of the company’s preferred stock, making a net loss of $71,453, which compares with a net loss of $1,273,054 in 1932. The company, during the last year, declared four regular quarterly dividends of 12% cents each on the common and 30 cents on the preferred stocks. Electric output of the United Gas and Improvement system companies for the week ended Jan. 13, totaled 70,901,003 kilowatt hours, against 63,224,895 in the same week in 1933, an increase of 71-10 per cent. Canadian Pacific Railroad Company gross for the second week of January totaled $1,995,000, against $1,551,000 in the like 1933 week. Gross income of the company from Jan. 1 to Jan. 14, inclusive, totaled $3,893,000, against $3,149,000 in the same 1933 period. Directors of the Electric Auto Light Company have voted to issue approximately 300,000 shares of common stock to be used to acquire the assets and business of the Moto-Meter Gauge and Equipment Company, on the basis of one share of Auto Light stock for two and one-half shares of MotoMeter stock. United Gas Corporation and subsidiaries in twelve months ended Nov. 30, earned $5.10 a share on the no par $7 first preferred stock, against $3.13 a share on the $7 second preferred, after payment of the $7 first preferred stock dividends in the previous twelve months.

On Commission Row

—Jan. 19. Fruits r Cranberries—Cape Cod early blacks. 25lb. box. $2.80. Grapes—Semi sawdust. 28-lb. lug. $3.25. Pears Washington A'Ajou, 90—165s $2.50; Avascados, Fla., 16-16s, crate, $1.75. Strawberries—Florida. 20c per pint. Bananas—Per pound. 5%c. Apples—Wealthy, Wolf River. Grimes Golden. Jonathan. Florida. $i,35@2 a bu.. fancy Staymans. $2 25 a eSt. Grapefruit—s3® 3.75. Oranges—California Navels. $4.50 a box. Vegetables Cabbage—Eastern Danish. 60-lb. bag, $1.65; new Texas, 50-lb. crate. $3. Onions—lndiana white, 59-lb. bag. $1.40Indiana yellow-, 50-lb. bag, $1.50. Beans—Round stringless, hamper. $2.50; best, $2.75. Beets—Bulk per bu., 51.15; Texas, new, $1.50 a crate. Peas—3o-lb. hampers. *2.7503. Carrots—California, $3 a crate; per doz., 60c: Michigan, $2.50 per crate, doz., 60c; bulk per bushel, $1.15. Cauliflower—California (11-12s), crate $1.60. Celery—Michigan Mammonth, dozen, 65c; medium bunch. 45c; hearts. $1.25; 18bunch per crate, $1.25; California. $2.75 crate. Cucumbers—Florida. $5 bushel; hothouse. $1 per dozen. Lettuce—lceberg best (4-ss) crate, $3.750 4; hothouse. 15-lb. basket $1.25. Radishes—Hothouse buttn, 75c down. Spinach—New Texas. $1 per bu. Turnips—Per bu., 85c. Tomatoes—Hothouse, $1.50. Potatoes—Northern round whites, 100-lb. bag, $2.15; R. R. Ohios. 100-lb. bag., $2.15; 15-lb. bag. 35c: Idaho Russets, 100-lb. bag. $2.25; Texas Triumphs, new. SI.BO. 50-lb. bag. Sweet Potatoes—Nancy Halls, per bu., [email protected].

Produce Markets

Delivered in Indianapolis prices—Hens. 10%c; Leghorn hens, 7%c; heavy springers over 5 lbs.. 11c; under 5 lbs., 9c; Leghorn springers, 7c; stags, 8c; Leghorn stags. 6c; cocks, 5 lbs. and up sc; under 5 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. 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. 16c, each full egg case must weigh 55 lbs. gross: a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1. 25@26c; No. 2. 220 23c. Butterfat—l6c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO. Jan. 19.—Eggs—Market, firm; receipts, 4.992 cases; extra firsts. 22%c; fresh graded firsts. 22c; dirties. 16@19c; current receipts, 21c; checks, 15018 c. Butter—Market about steady; receipts, 8.180 tubs; storage extras (92 score), 19c; storage standards (90 score), 19c; extra rsts (90 to 91% score). 19%@19' 5 4c; extras .92 score. 20c; firsts (88-89% score.. 18%@ 19c: seconds (86-87% score). 17%@18c; standards (90 score*. 19%c: specials. 20% 0 21c. Poultry—Market about steady; receipts 22 trucks, no cars; one car due; turkeys, 12%c; hens. ll%c; Leghorns. 8c; Leghorn chicks, B%c; colored springs. 13c; roosters. 8c; chicks. 11c; duks, 9@llc; geese, 9c; black chicks. 8c; Plymouth Rocks, 12c. Cheese—Twins, 11011 %c; Longhorns. 11%@12c; daisies, 11%012%c. Potatoes—Supply moderate; demand and trading good; markdt strong; Wisconsin Round Whiter. $1.72%® 180, mostly around $1.75; Minnesota, Red River Ohios. $1.70; Idaho Russets. *2.100 2 15. combination grade, $1.8501.90; Colorado McClures, few sales. $2.150 2.20; shipments. 720; arivals, 59; on track 221.

In the Cotton Markets

—Jan. 18— CHICAGO . High. Low. Close. January . . 11 11 March 11.23 11.10 ILIB Mav 11.43 11.28 11.35 July 11.56 11.45 11.48 October 11.74 11.63 11.65 NEW YORK January 11.08 10.99 11.02 March 11.17 11.03 11,16 Mav 11.33 11.18 11.29 Julv 11.48 11.33 11.41 Octboer 11.65 11.52 11.62 j December 11.80 11.68 11.73 .NEW ORLEANS .Tanuart 11.12 11.02 11.06 March 11.15 11.00 11.12 Mav 11.31 11.16 11.29 Julv 11.47 11.32 11.45 October 11.62 11.51 11.62 December 11.78 11.70 11.76 CHICAGO FRUIT MARKET By United Press CHICAGO. Jan. 19 —Apples—Michigan Jonathans. *1.2501 65: Baldwin and Wagner. $1.2501.50. Carrots—lllinois, 400,50 c bushel. Spinach—Texas. 75c@$l bushel. Beans—Southern. *2O 2.25: wax. *[email protected]. Mushrooms—lllinois. 17%@ 32%c < lb. carton. Cucumbers—Southern, S2O 2.25: hothouse. *3.2503.75. Tomatoes Florida. SI. 50 0 2.50; hothouse. *1.2501.35 (8-lb. fasketi. Leaf Lettuce—lllinois hothouse. 7%@ 20c box. Celery—Michigan. 25 0 75c square crate. Cabbage—Wisconsin, *1.75® 2 (100-lb sacks'. Parsnips—lllinois. 75c0 SI bushel. Sweet Potatoes—lllinois. *l® 1.35: Indiana *1 500 1.75 bushel. Radishes —lllinois hothouse. 35® 75c dozen bunches. Rhubarb—Michigan hothouse. 45@55c 15-lb. carton.). Onion Market— < 50-lb. sacks c Western Valentias, SI 250 1 40; Central Western Yellows, $1 1501.25. Western Whites, *1.750 2. Fire Reports (Thursday) 548 am., 848 North Pennsylvania, hotel. SSO. 6:04 a. m.. 564 W'est Morris, residence, *lO 6 22 a. m . 232 Lincoln, residence. *ls. 7:15 a. m., 2701 North Illinois, residence. $lO 7 50 am., 721 North Pershing, residence $lO. 8 54 a. m., 44 South Senate, automobile, small loss. 9:14 a. m,. 730 East Fifteenth, residence, no loss. 1:35 p. m.. 1934 North Talbot, apartment, small loss. 5 03 p. m.. 337 North Holmes, residence, no loss 5:47 p. m , 1618-20 Bundy, shed. $25. 8:36 p. m . Thirty-fourth and Ruckle, automobile, small loss. 9:45 p. m., 12 South New Jersey, office rooms. S2O. 10:41 p. m.. 425 North Senate, laundry, small loss. 10:41 p. m.. 126 West Washington. Indiana roof garden, small loss. 10 55 p./ m , 2515 Northwestern, resi-

PORKER SALES REMAIN STEADY AT CITY YARDS Cattle, Lambs Stationary; Vealers Strong to $1 Higher. With exception of an advance of 5 cents on choice weights in the previous session, porker prices remained steady for the third consecutive day at the Union stock- | yards this morning. Initial trade was slow and slightly less active than yesterday. Receipts continued strong, increasing around 300 over the last session. The bulk, 160 to 250 pounds, sold for $3.50 to $3.40, while heavy classes weighing 250 pounds and upward were salable at $3.25 to I $3.40. Smaller grades, 130 to 160 pounds, sold for $3 to $3.35. Light | slaughter pips, scaling 100 to 130 i pounds, brought $2 to $2.75. Re- ! ceipts were estimated at 11,000. Holdovers, 207. Practically all slaughter classes of j steers in the cattle market showed | little change, with nothing on hand ! to demand top prices. Initial bulk j prices were not established. Receipts were 300. Strength appeared in veals with most grades advancing $1 over yesterday's average, selling at $7.50 down. Receipts numbered 600. Early sales on lambs held stationary at $8.50 down. Undertone was strong and some grades held slightly higher. Receipts were 2.000. on hogs at Chicago were weak to around 10 cents lower than yesterday at $3.55 down. Receipts were estimated at 35,000, including 11,000 directs; holdovers, 2,000. Cattle receipts were 2,500; calves, 1,000; market steady. Sheep receipts numbered 8,000; market strong. HOGS Jan. Bulk Top Receipts 13. $3.55® 3.75 $3.75 4,000 15. 3.40® 3.50 3.50 11,000 16. 3.50®- 3.60 3.65 8,000 17. 3.50® 3.60 3.65 9.000 18. 3.50® 3.60 3.65 8.000 19. 3.50® 3.60 3.65 11,000 Market, Steady (140-160) Good and choice. .$ 3.15® 3.35 —Light Weights—-(l6o-180* Good and choice ... 365 (180-200; Good and choice ... 3.65 —Medium Weights—-(2oo-220) Good and choice ... 3.55® 3.60 (220-250) Good and Choice ... 3.50® 3.55 —Heavy Weights—-(2so-290) Good and choice ... 3.40® 3.45 (290-3501 Good and choice ... 3.30® 3.40 —Packing Sows—(3so down! Good 2.60® 2.85 (350 up. Good 2.50® 2.75 (All weights! medium 2.15® 2.50 —Slaughter Pigs—-(loo-130) Good and choice.... 2.00® 2.75 CATTLE Receipts, 300; market, steady. (1,050-1,1001-Good and choice $ 5.75® 7.00 Common and medium .... 4.00® 5.75 (1,100-1,5001-Good and choice 5.00® 6.75 Common and medium 4.00® 5.00 (675-750) Good and choice ...1 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 1.25® 2.25 ) — Good (£eef steers) 2.50® 3.25 Cutter, common and medium. 1.50® 2.50 VEALERS Receipts. 600; market, higher. Good and choice ..$ 7.00® 7.50 Medium 4.50® 7.00 Cull and common 2.50® 4.50 —Calves—-(2so-500) Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-900) Good and choice 3.75® 4.75 Common and medium 2.50® 3.75 (800-1,5001-Good and choice 3.75® 4.75 Common and medium 2.50® 3.75 SHEEP AND LAMBS Receipts, 2,000; market, steady. (90 lbs. down) Good & Choice sß.oo® 8.50 (90-110 ibs.) Good and choice. 7.50® 8.25 (90 lbs. down) Com. and med. 5.00® 7.50 —Ewes— Good and choice 2.50® 3.50 Common and medium 1.25® 2.50., Other Livestock BY UNITED PRESS FT. WAYNE. Jan. 19.—Hogs—Steady; 160-200 lbs.. $3.55; 200-250 lbs.. $3.45: 256300 lbs.. $3.35: 300-350 lbs., $3.20; 150-160 lbs.. $3: 140-150 lbs., $2.9; 130-140 lbs.. $2.70; 100-130 lbs., $2.40; roughs, $2.50; stags, $1.75. Calves, $7; western lambs, $8; native lambs. $7.75. EAST ST. LOUIS. 111., Jan. 19.—Hogs— Receipts. 12,500: market, mostly 10c lower: top. $3.55; bulk, 150-240 ibs . early, $3.45 @3.55; heavies not established; 120-140 lbs., $2.60® 3.10; 90-110 lbs., [email protected]: sows. [email protected], with a few at $2.75. Cattle —Receipts, 800; calves., 700; market, generally steady in cleanup trade with receipts of all classes light: one load medium weight steers in choice flesh, $6: other offerings of a kind to sell mainly at $4; mixed yearlings and heifers, $3.50® 5: cows, $2.3502.75; low cutters, $1.25® 1.75: sausage bulls. $2.50®3; top vealers, $6.50. Slaughter steers, 550-1.100 lbs., good and choice, [email protected]; common and medium. $3 0 5.50; 1,100-1.500 lbs., choice, $4.75®6.25; good, $3.75@6; medium, $3.50 5. Sheep—Receipts. 1,200; market, choice wooled lambs to city butchers steady at $8.50® 8.65; no sales to other interests; indications steady on throwouts and sheep. Lambs. 90 lbs. down, good and choice, $7.75 @8.65; comon and medium, $4.50@8; 9098 lbs, good and choice, $7.7508.50; yearI ling wethers, 90-110 lbs, good and choice, ! ss®7: ewes, 90-150 lbs, good and choice, 52.2503.75: all weights, comon and me- : dium, $1.5002.75. PITTSBURGH. Jan. 19.—Hogs—Receipts. 3,500; good demand; steady to 5c lower; top. $4.15; bulk, 160-210 lbs, $404.15; closely sorted k.nds for weight and quality on government account. $4.15; 210-240 lbs, $3.70@4; 240 lbs. up. *3.75®3.85; 130 lbs. down. $2.75® 3.75; packing sows. $2.75 down. Cattle —Receipts, 50; nominal; good beef steers, eligible up to $6 and better. [ Calves—Receipts. 75: steady; top and bulk ' valers, $7; medium. $5 @6. Sheep—Receipts. 500; steady to 15c higher: mostly $8.60 for local lambs, with one load westerns up to $8.75; shorn lambs absent! aged wethers, quotable $4.50 down. CLEVELAND. Jan. 19. —Cattle—Receipts. 175; market today with some of the week's decline regained, but off 15®25c for the week; choice steers, 750-1.100 lbs, $606.25; 550-900 lbs, ss® 5.50: 900-1.200 lbs, $5.50 ®6: good heifers, 600-1.000 lbs, $4 25® 4.75; good cows, all weights. $2.50® 3. Calves—Receipts. 200: market steady today and closing prices unchanged from week ago; choice to prime. [email protected]: choice to good. $6.5007: fair to good, $5®6.50. Sheep—Receipts. 600: receipts unusually light and market steady and unchanged from week ago; choice wethers. $2.500 3)25; medium to good. $1.500 2; choice spring lambs. sß® 8.50; good to choice. $7.50 08. Hogs—Receipts. 1.300: steady today and prices 25c lower for week; heavies. - $3.25® 3.40; choice mediums. $3.40 0 3.50; light butchers. $3.85: choice Yorkers, $3.85: stags. $1.25; roughs. $2.25; pigs. $2 500 2.75. LAFAYETTE. Jan. 19 Hogs—Market steady: 170-225 lbs, $3.50 0 3.60 : 225-275 lbs, $3.400 3.45: 275-325 lbs, $3.250 3.35: 140-17 C lbs, $303 20: 120-140 lbs . $2.50® 2.75: 110-120 lbs, S2O 2.25; 110 lbs down. $1.75: doughs. $.75 down. Top calves, $6. Top lambs, $7.50. By Timri Special* LOUISVILLE. Jan. 19.—Cattle —Receipts. 125; supplv light; demand still dependable for cows and bulls, but slaughte. steers and heifers slow; market, generally steady, with steers and heifers mostly 25c under Monday; bulk common to medium steers and heifers. $3.750 4.50; cutter grades down to $3; well finished fed offerings quotable mostly $4.750.5.75; bulk beef cows, $2.50 03; top $3.50: most low cutters and cutters. $1.2502.25: sausage bulls. $3.25. down; common to medium grade native Stockers and feeders. $2 50 0 3.50: well bred beef types eligible around $4.50. Calves—Receipts, 200; market, fully steady to strong: bulk better vealers. $5 0 5.50: few strictly choice higher medium and lower grades, $4 down. Bogs—Receipts. 800: market mostly 10c lower: weights from 105 lbs down. 25c off: bulk 160-210 lbs . $3.75 215-250 lbs S3 65: 255 lbs up. $3.50: 130-155 lbs . $3.40; 100-125 lbs, $315; 105 Jbs- down. $1 60: sows. $2 40: stags. sl.lO . Sheep—Receipts. 25; market, quotable unevenly. sitc@Sl higher on better grade lambs: medium to good lambs, mostly $6 5007 50: choice fed lambs eligible higher: bulk throw-out lambss $4; desirable fat ewes. $2. NEW YORK CASH GRAIN By United Pre* NEW YORK. Jan. 18—Cash grain: Wheat—No. 2 red. 81.06%; No. 2 hard winter. 11.08%. Qprn—No. 2 mixed. 60%c. *S ill/a

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No Crowing Hasty Shot Spoils Hopes of Nimrod Army. CREEPING stealthily, in single file, through the fields on the Merritt Green farm, near Greenwood Wednesday night, 210 bold crow shooters advanced warily on their quarry, lodged in a woods. Every ear was cocked, and so were shotguns. One huntsman, grown excited at the sight of fifty crows calmly perched on a tree, fifty yards from the woods, where approximately 15,000 cawing birds had made their habitat, fired too soon. Immediately 210 w-eapons echoed with a deafening blast that shook the countryside. Smoke flooded the darkened crow battlefiled. Mingled with the blast echoes were the hoarse screaming of crows and the flap of wings. When the smoke cleared, fifty crows had died in action and the remaining thousands were winging down the horizon. The bold huntsmen had been too far away from the field of action when the first shot was fired. The over-excited crowshooter has given the Marion County Fish and Game Association, which sponsored the shoot, anew lesson—“ Don’t fire until you can see the whites of their eyes.” One hundred and twenty-five men from Indianapolis participated in the shoot, the largest ever staged in the state. Those in charge were Gary Winders, Howard Myer and Harry. B. Shepard. The shoot was staged in connection with the state-wide crow killing contest. The association plans to continue its hunts every week.

STATE ROAD BOARD SHIFTS HEARING DATE Delegations to Be Heard Tuesdays, Starting Jan. 23. State highway commission hearing dates for road delegations have been shifted from the second and fourth Wednesday of each month to Tuesday, it was announced today by Chairman James D. Adams. Next session will be Jan. 23.

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Indianapolis Cash Grain

—Jan. 18— 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—Firm: No. 1 red. 87®88c; No. 2 red. 86® 87c: No. 2 hard. 86® 87c. Corn—Easy; No. 3 white. 44®45c: No 4 white, 43@44r; No. 3 yellow. 43®44c: No. 4 yellow. 42q43r: No. 3 mixed, 42@43c; No. 4 mixed. 41@42c. Oats—Steady: No. 2 white, 35@36c; No. 3 white. 34@35c. Hav iF. o. b. country points taking 23%c or less rates to Cincinnati or Louisville) Steady; No. 1 timothy, $7.5098; No. 2 timothy, $707.50. —lnspections Wheat—No. 1 red. 4 cars; No. 2 red. 5 cars: No. 5 red. 1 car; No. 2 hard. 1 car; No. 2 mixed. 1 car. Total. 12 cars. Corn—No. 2 white, 1 car; No. 3 white, 3 cars: No. 2 yellow. 3 rars; No. 3 yellow. 9 cars; No. 4 yellow, 22 cars; No. 5 yellow. 9 cars; No 6 yellow. 1 car; No. 3 mixed. 1 car. Total. 49 cars. Oats —No. 2 white, 19 cars; No. 3 white. 3 cars; No. 4 white. 3 cars; sample white, 1 car. Total, 26 cars. INDIANAPOLIS WAGON WHEAT Citv grain elevation are paving 82 cents lor No. 2 soft red wheat. Other grades on their merits. TOLEDO CASH GRAIN By United Press TOLEDO. Jan. 18 —Grain close (grain In elevators, transit billingi: Wheat—No. 2 red. 92%@93%c. Corn —No. 2 yellow. 55 @ 56c. Oats—No. 2, 69®70c. Track prices. 28%c rate: Wheat—No. 1 red. 89®89%c; No. 2 red, 88@88%c. Corn -No. 2 yellow, 50%@52%c: No. 3 vellow, 49%@51%c No. 4 vellow. 480 49c: No. 5 yellow, 46%@48c. Oats—No. 2 white. 39@40%c; No. 3 white, 38%@40c Toledo seed close: Clover — March, $8.50. Alsike—Cash. $8.75.

DINNER HELD BY SIGMA CHI Indianapolis Alumni Meet at I. A. C.; Johnson Is Toastmaster. Members of the Indianapolis Alumni Association of Sigma Chi fraternity held a beefsteak dinner last night in the Indianapolis Athletic Club. Speakers included Probate Judge Smiley N. Chambers, Ray Mead, Colonel John T. Barnett, Telford B. Orbison, Frank C. McHale, Thomas C. Ruckelshaus, Russell Willson and Reginald Garstang. Fred Bates Johnson was toastmaster. FAY WEBB ELUDES PROCESS SERVERS Crooner's Wife in Seclusion Pending Hearings, Father Says. By United Press LOS ANGELES, Jan. 19. Fay Webb Vallee was the target today of process servers who sought to serve her with a summons to give a deposition next Monday in connection with her separate maintenance suit against her estranged husband, Rudy Vallee, the crooner. Her father, Police Chief C. E. Webb, of Santa Monica, said she has gone into seclusion to rest until the hearing of her demand for temporary alimony is called next Wednesday. She is asking $7,400 a month, pending settlement of her separate maintenance suit. Vallee’s local attorneys wanted her to give the deposition at their office.

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_3AN. 19, lffll

FAIR DEMAND SENDS FUTURE PRICESHIGHER Strength in Securities and Cotton Boosts Grain Values. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Jan. 19.—Buying on the strength of firmness in cotton and stocks sent grain prices up fractions to a cent at the opening of the Board of Trade today. Wheat futures advanced •>* to 1 cent, corn leas up % to % cent, and oats were % to % cent higher. Stocks and „cotton were encouraged by a sharp drop in the dollar in terms of sterling, and this feeling drifted into tohe grain pits. Brokers were confident wheat had ample stamina to resist further profit-taking. Reports from milling centers were that a good flour business was being done, and this was encouraging to grain traders. Talk of improvement came from so many sources that assumption was that increased demand for flour was quite general. Dry weather persisted in the southwest and weather forecasts predicted no relief for (the immeditae future. Chicago Primary Receipts —Jan. 18— Bushels. Last. Today. Week. Wheat 316,000 226.000 Com 586.000 406,000 Oats 126,000 125,000 Chicago Futures Range —Jan. 19WHEAT— Prey. High. Low. 10:00. close. May 91 .90% .90% .89% July .88% .88% .88% .87% Seiit 89% .89 % .89% .88% CORN— May 52% .52% .52% .52% July 54% .54% .54% .54% Sept. ..•••*••• .56 .55% .55% .55% OATS— May 39 .38% .38% .38% July 37% .37% .37% .37% Sept .. .37 .36% RYE— May 64% .63% .64% .65% July 65 .64% .61% .63% BARLEY— May .52% .52 .52% .52'/* July .. .. .52% CHICAGO CASH GRAIN By United Press CHICAGO, Jan. 18.—Cash grain; Wheat —No. 2 hard. 90%c; No. 2 mixed, 89%c. Corn (new) —No. 2 mixed. 49%c; No. 3 mixed, 49@49%c; No. 4 mixed, 49c: No. 2 yellow, 50%@51c; No. 3 vellow, 49@50%c; No. 4 yellow, 48@49c; No. 5 yellow 48® 48'ic; No. 2 white. 51@51%c; No. 3 while, 49%®50%c; sample grade white. 45%c. Corn (old)—No. 2 yellow. 51%c. Oats— No. 2 white, 34'4®39r: No. 3 white. 38tic; No. 4 w-hite, 37%c. Jiye—No sales. Barley Sales, 750 77c ; quotable. 48@80c. Clover seed, $10.50® 11.75. Timothy—s 625 0’6.50. Cash provisions Lard, $5 50: loose. $4.77; leaf. $4.73; S. bellies. $6.50.

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