Indianapolis Times, Volume 45, Number 220, Indianapolis, Marion County, 23 January 1934 — Page 15

JAN. 23, 1934.

Wall Street Things Looking Up for Street: Higher and More Active Markets Helpful: Some Worries Yet. BY RALPH HENDERSHOT Tines Sstdsl Financial Writer Things are looking up for Wall Street these days. Stocks and bonds have staged a nice advance, and trading has been active, making for larger commissions. Currency Inflation appears to be out, and the money sent out of the country a few months ago Is beginning to come back home. Devaluation of the dollar has become more acceptable to the Street, and the movement toward definite stabilization has struck a responsive chord. The Street still has plenty to worry about, however, but worrying doesn't come so hard so long as the boys are making money. The question of Stock Exchange regulation remains to be settled, and until that is over they will not breathe easily again. The underwriters of securities are hoping against hope that the securities act will be eased a bit, and the bankers would like to see the permanent plan to guarantee bank deposits thrown out. They would like also to have the senate investigation close up shop, but they don't mind so much so long as Mr. Pecora’s

eagle eye is not looking too directly at them. It may be said, however, that the new deal does not look as badly to the folks in the financial district now as it did when President Roosevelt first began to prove that the term was not just another catch phrase. In fact, a great many people are beginning to like it. No small number of brokers, strange as it may seem, are actually looking forward to regulation of the exchange. And the only bankers which are at all articulate have given up their reactionary tendencies and are now offering constructive suggestions to the administration. 000 Warburg Has Liberal Views James P. Warburg, president of the Bank of Manhattan, had some rather nice things to say about the President's monetary program in his statements before the committee on coinage, weights and measures in the house earlier this week. Mr. Warburg appears to be acting as the spokesman for Wall Street bankers

f [f

Ralph Hendershot

these days, and it may be said that he is more liberal and forward-looking in his views than any of those who have carried the bank flag in recent years. . . , The return of the A. W. O. L. capital probably is having a great deal more to do with the rise in market prices than is generally realized. This capital must find employment sooner or later, and the banks are not paying very high interest rates these days. Whether the capital goes into the banks, securities or directly into business, it should help the stock and bond markets. 000 Business Improvement Reflected That business is improving is indicated by the heavy repayments of loans granted by the Reconstruction Finance Corporation. Harvey Couch, a .director of the government agency, is quoted as saying that $1,059,214,273 of the $3,139,309,375 loaned has been repaid. Incidentally, these repayments and others which will be made if business continues to expand as many anticipate are likely to have an important bearing on budget requirements and the government debt over the next year or two.

New York Stocks ■,Bt Abbott. Hoppin * Cos.)

—Jan. 23 __ r Prev. Oil*— High. Low. 10:30 close. AuTtte*.:;".::::: ::: % Barns</all 9% *4 ®‘ J Consol Oil }l v }* 4 }i* 4 Cont of Del ... 19% 19 19 1| T ANARUS Houston inew 2 Houston i old) ... - ,4? Indian Rfg .:7* Mid Cont Pet 13 . 4 Ohio Oil 14 a Pet Corn 12 4 ii /8 Phillips Pet }L. Roval Dutch ii' 4 Sbd Oil SSimms Pet 4 ;27 ol Cal 41 1 * Sun Oil 22., Texas Corp Tidewater Assn 1° * J® 3 4 Un Oil of Cal 19 '• Steels— .. K .. Am Roll Mills . .. 2 L' Beth Steel 43y 43'. 43 . 43^ Bvers AM Col Fuel A Iron 6 2 ,2,* Cruc Steel iX* Ludlum Steel iX 1 McKeesport Tin 88 ’ 22 “Wca •* •* ag E'Ssf.u "“ .mh m m *£ Vanadium 25 2 ?2 8 Mid Steel *2,, Shell Un • 9 8 ->3s* U S Pipe it Pdy. ••• ij 551® U S steel 53 54 ,4 55 S3 U S Steel pfd Youngstn SAT.. . ••• 23,8 Atchison * ®2* 4 ®* lß Atl Cst Line JiZJ -ij Can Pac 16 ij' 8 Ch A Ohio Chi AGt W ‘i,, Jr 8 C M it St ®, 3 2,. CM& St P pfd .. ... 9 a 9^a Chi N W 10 9*4 9*, 10% Chi R -I, 8 £>* *. Hud .:::::: ::: ''* L Ort Northern pf jj 25? 4 11l Central 35 ” 3 4 Lou it Nash ?2, 8 M K * 13 1 J, 2 Mo Pac pfd .... 7H 2 4 22 N Y Cent v 32 ‘a 3 ‘ 37 8 f-i 8 N ' Chi & ft L 1 8 Y New Haven 19 • 20 • - YOnt * Wes 10 * 10 Nor Pac ... -ii., 27 8 :i* 8 Penn R R MW 33,4 3 | a 35 . Sou Pac 2* l * 26 26 26 Sou R R • - 29 4 SS, 4 Sou R R pfd Union Pac ,, 4 Wabash ~ West Maryl 11 Auburn”?! 52% 52 52 521. Chrysler -• “ 4 , 22 8 Oen Motors 37 3$ r 36 37 Graham Mot .2 '* Hudson •• *i Mactc Truck I!K ” .’i.’ 3H f Nash Packard 4 4 4 , 8 Reo •• 4 i^ 8 Studebaker * Yellow Truck 3 8 Motor Access— Bendix 19a 19% Bohn Alum • ® Borg Warner 24'a *4'* Briggs 13*4 13% 13'* lj^* Budd Wheel ■ ■ 4 Fa ton Mftr .... .. ••• 15 3 4 Elec Auto Lite.! 32% 22 22'* 22■ a Houd A 5 Mulllns Mfg ‘l s Murray Body S'* * Stew Warner • Timken Roi ... 33'* 33 Mining— Alaska Jun 22*. 22% Am Smelt 45 1 a 45 7* Anaconda > ... 16% 16% Cal St Hecla ... ... 1 Cerro de Pasco 36** 36% Granby 10’* Ot Nor Ore 13 M% Hptr.estake Min. .. ... ... 320 Howe Sound ... 3712 Inc Copper 5Ja Int Nickel 23' a 22i* 22% 32% Kennecott Cop 22 22% Nnranda Cop 34** 34 7 s Phelps Dodge If Pitta Coal 15 Tobaccos— Am Sum Tob 17*4 18% Am Tobacco A 70’s Am Tobacco B 72*4 73 Gen Cigar 30'* Ligg A Myers B 84 8412 Lortllard 17% Remolds Tob B. 41’# 41 8 * 41’s 41 s * Equipment*— Allis Chalmers 19*2 19 s * Am Car & Pdy 28 28 Am Loco 32 s * Am Mach A Pdy 16 s * Am Steel Pdy 24 fald Loco 13 IS urroughs 17** Case J I 77 76 s * Cater Tract 27>2 27 s * Col Palm Peet 13 13 Congoleum . 28** 28% 23'a 28% Elec Stor Bat 50% Poster Wheeler 16*2 Gen Am Tk Car 38*2 Gen Elec ... 21’* 21’* Oen R R Sig 41% ’* Ir.gso! Rand 66 65 l t Int Harvester 42’s Kelvinator 13 l * 13*a atl Cash Reg 19’s 19 Proc A Gamble . 39 Pullman Inc 571* 53 Simmons Bed 20': 20 l a Und ElUot 51 West Air B 31 >4 Westtngh Elec 41S 421* Worthington P 27 1 * Utilities— Am A For Pwr 10 s * 10 l s Am Power A Lit S'2 Bs*8 s * A T A T 118'i 118 Am Wst Wks 22*2 22 l * Brook Un Gss 72 Col Gss A Elec 14's 144 Com A Sou 2’s 2’* Consol Gss 43 l * 43a* -‘Blec Pwr A Lit 6 s * 6S E P A L pfd 14 Int T A T 15 8 Lou GAEA' 17 '2 Nst Pwr A Lit lUs North Amer 1944 Pac G A E 19 l s 19W Pub Serv N J 40H 4CH So Csl Edison 197* 20 Std Gss ... 9H 9i Btd Oss pfd 10 s * United Corp 67* ?r. Oss Imp 17** 17 ** Ut Pwr A lit A' 4 West Union 60*3 60*3 Rubbers— Firestone 21S Goodrich 15 Goodyear 3774 U S Rubber I*H 18*4. 18V* 19v 4 U S Rubber pfd 30 30t* Kel Spring 3 Amusements— Crosley Radio 10% Fox TTiea 18 Lorrs Inc 39* 28** 28% 38% Radio Corp .... t 7’, 7% 8 RKO 8 3% 9 2%

Warner Bros 7 7% Foods— Am Sugar 54% Armour A ... ... 5% Borden Prod ... 23% 23% 23% 23% Cal Packing 27 Canada Dry G A 26% 26% Coca Cola 98% Cont Bak A 11 Corn Prod 79% 79% Crm of Wheat 30% 30 Gen Foods 36% Gold Dust 19 19 G W Sugar 33 Hershey 52% Int Salt 24*4 Natl Biscuit 47V, 46% Nat! D Prod ... 15% 15% 15% 15% Purity Bak 16% S Porto Rico S 36% 36% Std Brands 24V, 23% 23% 24 United Fruit 63 Ward Bak A 9% Retail Stores— Ass Dry Goods 13% Best & Cos 28% 30 Glmbel Bros 5% 5% Gimbel pfd 20 Gr Un Tea 6 Hahn Dept Sts 6*4 Jewel Tea 35% Kresge S S 15% Kroger Groc 28% 28*4 Macy R H 57% 57% Mav Dept St 35 Mont Ward 26'i 26% 26% 26% Penny J C 58 58% Safeway St 51% Sears Roebuck ... ... 46 46 Wool worth 48% 48*4 Aviation— ’ Aviation Corp 9% 9 Douglass Air 19 18% Curtiss Wright 33 Curtiss Wright A 7% 7% Nor Am Av 6 United Aircraft 33% 33*4 Chemicals— Air Reduction 103% AUied Chem 151% Am Com Alco. 60% Col Carbon 63% Com Solvents ... 35*4 35 35 35 Dupont 98 97% 98 98% Freeport Tex 45 45*4 Liquid Carb 30 Math Alkali 39 V, Tex Gulf Sulph . 39% 39% 39% 39% Union Carbide.. 48% 48 48% 49% U S Ind Alco 58 Natl Dist (new) 26% 26*4 Drugs— Coty Inc 5% Lambert 25% Lehn & Fink 17% Zonite Prod ... 6% 6% Financial— Adams Exp 9% 9% Alleghany Corp 4% Chesa Corp 39 % 39*2 Transamerica 7% 7% Tr Conti Corp 5V* 5% Building— Am Radiator ... 16 15% 15% 15% Gen Asphalt 18% Int Cement 34% 34 Johns Manvllle 62% 63 Libby Owens Gls 41% 41 41 41% Otis Elev 18% 18V, Ulen Const ..... .. ... ... 3'/, Miscellaneous— Am Bank Note 17% Am Can 102% 101% 102% 102% Anchor Cap 22% Brklyn Man Tr 32% Conti Can .. .• 30', Eastman Kodak 85% 86% Owens Bottle ... ... 84 Gillette 117* n% n% n% Glidden 18 17% Gotham Silk 9% 9% Indus Rayon 87 Real Silk Hose 10%

U. S. Government Bonds

By United Press NEW YORK. Jan. 22 —Closing liberties. (Decimals represent thirty-seconds.) —Liberty—--3%s (32-47) 100 29 First 4*s (32-47) 101.30 Fourth 4%s (33-38) 102.14 —Treasury—--4%s 3'is (45) 99.2 4%s (47-52) 106.2 3%s (46-56) 100 28 3*sS (43-47) 99.28 3%s (41-43) March 99.27 3%s (40-43i June 99 31 3*s (41) 992 3%5( 46-49) 97.14

Daily Price Index

By United Press NEW YORK. Jan. 22—Dun & Bradstreet's daily weighted index of thrty basic commodities compiled for the United Press: Today 104.47 Saturday 104.79 Week Ago 104.48 Month Ago 99.87 Year ago 68.85 1934 High (Jan. 19) 104.87 1934 Low (Jan 3) 101.05 (Copyright. 1934. By Dun & Bradstreet. Inc

Federal Farm Loan Bonds

<Bv Blyth Sc Cos., Inc.> -Jan. 22 Bid. Ask. ♦s Not. 1. 1957—37 90 > 91 > 2 4s Mav 1. 1958—38 90 ! * 91 s i 4‘s July 1. 1958—36 91 92 ■ 4>.s Jan. 1. 1957—37 91H 92>. 4>s Mav 1. 1957—37 91Mj 92t 4>s Nov. 1. 1958—38 91*a 92> 4> 2 s Mav 1. 1942—32 94> 2 954. 4Ws Jan. 1. 1943—33 92 93 5 . 4 l 2 s Jan. 1, 1953—33 92 93 s . 4'js July 1. 1958—33 92 93*. ! 4‘iS Jari. 1. 1955—35 92 93 5 . 4 2 s Julv 1. 1955—35 92 93 s * 4* 2 s Jari 1. 1958—36 92 93 5 . | 4 s .® July 1. 1953—33 94‘. 95>i l 4 s .s Jan. 1. 1954—34 94 95‘ 2 4 s .s July 1, 1954—3 94 1 95's ] 5s Mav 1. 1941—31 98 ! a 99> 2 5s Nov. 1. 1941—31 98 l 2 99> 2 Home Loan 4s. July 1. 1951 92 92 s . CHICAGO FRUIT MARKET By United Pres# CHICAGO. Jan 23 —Apples—Michigan Jonathans bushel. Slsoi 160. Wagners bushel. 31 35 1.40. Carrots—lllinois. 404? 60c bushel Spinach—Texas. 90c @Bl bushel Beans— Southern green. *1.854? 2.25. Mushrooms—lllinois, 15@30e pound carton. Cucumbers—Southern, *2 50 bushel: hothouse. *34. Tomatoes— Florida. *1 25*12 50- hothouse. *[email protected], 8 pound. Leal lettuce —Illinois hothouse. 1517Wc box. Celerv—Michigan. 25@75c square crate. Cabbage—Wisconsin. *1 50@ 1 75, 100 pound sacks. Parsnips—lllinois. 75%i 85c bushel. Sweet potatoes—lllinois. 8113S: Indiana. 81 [email protected]. Rhubarb— Michigan hothouse. 304? Ssc, 5 pound carton Onion market <SO pound sacks*— Western Valencias. 8115?1.35; central western vellows, [email protected]; western whites. *1,75@2.

STOCK SHARES EASE SLIGHTLY IN QUIET TRADE Governor Lehman Introduces 11-Point Utility Price Curb Program.

Average Stock Prices

Average of thirty Industrials for MonIday: high 106.92. low 104.34, close 10a 00 | off .43. Average of twenty rails: 48.41, 47 22, 47.54. off 48. Average of twenty j utilities: 27.51, 26.63 , 26.85, off .10. Average of forty bonds: 88.82, up .09. Average of ten first rails: 94 57, up .17. Average of ten second rails: 76 81, up .09. Average of ten utilities: 93 69, off .02. Average of ten industrials: 90.62, up .13. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Jan. 23.—An easier tone came into stock, bond and the cotton markets today with price changes in a narrow' range. The only overnight development of importance w r as introduction in the New York state legislature by Governor Lehman of an 11-point utility price curb program. This resulted in easiness to utility stocks at the opening today. Other major points before the market included the Roper report on stock market operations, which President Roosevelt is to receive today, and the progress of the monetary bill in the senate with its various possibilities of revisions. These uncertainties led to a curtailment of trading activities at the opening today and the gradually easing prices in most divisions, except oils. The oiK shares continued to benefit by the marketing agreement and probability of increased gasoline prices therefrom. Consolidated gained % to ll 7 /g, Standard of California advanced Y* to 41% and Texas Corporation was up % to 27 %. Declines were limited to slightly more than a point, the widest coming in Union Carbide which on 1,500 shares was off 1% at 4814. Columbia Gas declined % of a point to 14%, Consolidated Gas dropped % of a point to 43%. Motors eased fractionally. United States Steel lost % point at 54% while American Telephone moved against the trend to show % point gain to 11814. Activity continued fairly quiet after the opening with prices advancing under lead of mining shares.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 23 I Clearings $1,656,000.00 Debits 4,293,000.00

Treasury Statement

By United Press WASHINGTON. Jan. 23.—Government expenses and receipts of the current fiscal year to Jan. 20, compared with the corresponding period of the previous fiscal year: _ Year - Last Year. Expenses $3,356,336,800.09 $2,923,690 010 76 Receipts. $1,628,718,951.12 $1,107,656,669.33 Deficit. *1 727 617.848.97 $1,816,033,341.43 Cash Bal. $537,356,084.78 New York Curb (By Abbott, Hoppin & Cos.) —Jan. 22 Close I Close. Allied Mills .. 8%! Great Atl & P. 141 Alum Cos of Am 83 Vi i Glen Alden Coal 13 Am Beverage... 2% i Gulf Oil of Pa 73'/a Am Cyanide B. 17% Hiram Walker.. 53 Am &FPw W 6*B Hud Bay Min.. 9% Am Gas & El.. 27 I Humble Oil ... 39% Am Superpower 3 Imperial Oil Ltd 13% Ass Gas & El. %'lnt Petrol 21% Atlas Corp ... 13 Lake Shore M. 43% Brazil Tr &Lt 13 SLone Star Gas. 7 British Am TA 29 Massey Harris.. 6 British Celanese 3%’Mt Producers.. 4% Can Indus A1 A 19*a'Natl Bellas Hess 2% Can Marc .... 2*4lNewmont Min. .. 52 Carrier Corp.. 7 [Nia Hud Pwr 6% Cities Serv ... 3%!Pen Am Airways 46 Commonw Ed.. 51%Park Davis 25 Con Gas of B 59% Penn Road 3% Cord Corp ... 7%|St Regis Paper. 3% Creole Petrol. 12% Sal Creek Prod 6% Crown Cork In 67(s!Sherwin Wms.. 57% Deere & C 0... 31% Std of Ind ... 32'/, Distillers Lim. 20% Std of Kv 17 Distillers Corp. 23% Stutz Mts 7% El Bond & Sh 17% Technicolor Ind. 10% Fisk Rubber.. 12%'Teck Hughes G 5% Ford of Can A 15%iUn Gas 3% Ford of Europe. 6 !Un Pwr & Lt A 4% Gen Aviation.. 6%|Wright Harg Mi 6%

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —Jan. 22 Am Bank Stocks Corp 1.02 1.12 Am & Gen Sec A 5 00 6.00 Am Inv Tr Sh l.l'O 2.50 Basic Industry Shares 3.55 3.65 British Type Inv Tr Sh 74 .84 Collateral Trustee Shares A. 5.12 5.25 Corporate Trust Shares (old) 2.17 2.21 Corporate Trust Shares (new) 2.45 2.48 Cumulative Trust Shares.... 4.30 4.40 Diversified Trust Shares A... 6.25 .... Diversified Trust Shares B . . . 8,25 8.50 Diversified Trust Shares ..C.. 328 3.32 Diversified Trust Shares D. . 5.12 5.37 First Insurance Stock Corp. 1.35 1.45 First Common Stock Corp 83 .97 Fixed Trust Oil Shares A... 9.00 9.15 Fixed Trust Oil Shares 8.. 7.75 7.90 Incorporators Investments... 18.36. 19.94 Land Bank Bond Shares .. .93 1.06 Low Priced Shares 6.25 Mass Inv Trust Shares 18 82 20.45 Nation-Wide Securities 3 50 3.60 N Am Trust Shares (53) .... 1.90 N Am Trust Shares (551 .... 2.49 2.53 N Am Trust Shares (581 .... 2.75 3.00 Selected American Shares .. 3.00 .... Selected Cumulative Shares . 7.40 .... Selected Income Shares .... 3.60 4.00 Std Am Trust Shares A 3.12 3.18 Trust Shares of America ... 2.98 3.02 Trustee Std Oil A 5.30 5.50 Trustee Std Oil B 5.15 5.30 U S Elec Lt & Pwr A 12 00 12.50 Universal Trust Shares 3.17 3.23 NEW YORK RAW SUGAR FUTURES —Jan. 22 High. Low. Close. January 1.39 1.36 1.37 March 1.44 1.41 1.43 Mav 1 49 1.45 1.48 July 1.53 1.50 1.51 September 1.57 1.55 1.56 December 1.62 1.60 1.61 Fire Reports (Monday) 6:11 a. m. Sixteenth and Drexel, motor bus. small loss. 8:36 a. m.. North Harris and East New York, auto truck. $75. 10:27 a. m.. 1802 Central avenue, residence. *lO. 1:35 p. m.. 27 Maple court, residence, SIOO. 2:57 p. m„ 1832 Roosevelt, ence. no loss. 7:00 p. m.. 3722 Ruskin, residence, no loss. 7:06 p. m., 2323 Churchman, residence. no loss. 8:31 p. m., 324 West Ray, residence, no loss.

The City in Brief

TOMORROW'S EVENTS Xiwanls Club, luncheon, Columbia Club. Lions Club, luncheon, Washington. Purdue Alumni Association, luncheon, Severin. Twelfth District Lerion, luncheon. Board ot Trade. Mutual Insurance Association, luncheon, Columbia Club. League for Hard of Bearlnr, 7:30 p. ■„ Stokes building. United Mine Workers, convention, Tomlinson hall. Old Hickory Democratic Club, banquet, Tomlinson hall Indianapolis Athletic Club, anniversary dinner. Cost Accountants, luncheon, Washington. Home Builders, dinner, Washington. Apartment Owners, luncheon, Wash-

THE INDIANAPOLIS TIMES

[Chicago Stocks | L ""'——(By Abbott. Hoppin & Co.i TOTAL SALES. 76.090 SHARES —Jan. 23High. Low. Clow. Acme Steel Cos 37’, 37*, 37% ! Advance Aluminum 3% 3* 3% j Allied Products 12% 12 12 I Asbestos Mfg 3V, ] Btstian-Blessing 7% Bendlx Aviation 19% 19 19Va Borg-Warner 24% 24V* 24*, Brach & Bons BV4 i Brown Fence ft W iai 6 1 Brown Fence & W tB 1% E L Bruce Cos 12*, Butler Bros 6 5*4 5% Canal Construction 2% Cent HI Pub Serv pfd . 15% 15% 15% Cent HI Securities pfd.. .. ... 6% Cent &8 o West I*4 1% 1% Cent & So West pfd. ... 8’ 8% 8% Cent <st So West PLp 12 10% 11% Chi & Northwestern... 11 10% 10% I Chicago Corp com .... 2% 2% 2% I Chicago Corp pfd 26% 25% 25% ! Chicago Towel pfd 65 Cities Service 3% 33 Coleman Lamp & S ... 25 Commonwealth Ed 53% 51*, 52 Consumers 6% Pr pfd 2 Cord Corp 2*4 7V4 7% Crane Cos 9 8% B*4 Crane Cos Dfd 60 58 58 Deep Rock OH 7% Dexter Cos 4% Electric Household ... 10 Goldblatt Bros 29% 28% 29 Great Lakes Aircraft... % *4 *4 Great Lakes Dredge... 21% 21 21 Grlgsbv-Grunow ... % Houdaille-Hershev A.. 14% 14% 14% Houdaille-Hershev 8... 5 4*4 4% 111 Northern Util 44 43% 44 Iron Fireman 10*4 10% 10% Katz Drug 22 Ken-Rad Tube & Lamp 3% 3% 3% Kentucky UJr Cu pfd. 17 16% 17 Leath Com ... V 4 Libbv-McNeil 4% ’ 4 4% Lincoln Printing ... % Lindsay Light ... 3V* Lindsav Nunn Pub 1% Lion Oil Refining Cos.. .. ... 4% Lvnch Corp 34 % 33 83 Marshall Field 15% 15% 15% McGraw Electric 5 McQuay-Norris ... 43 McWilliams Dredging o. 19 18*4 19 Merchants & Mfrs ‘'A”. .. ... J Mickelberry's Food Prod 3 Middle West Utilities... V* % Vi Midland United % Mosser Leather ... I}% National Leather 1% National Repub Inv .... ... 1% Noblitt-Sparks Ind. Inc 13% 13 13 N Amer Light & Power . 2*4 2% 2% N W Bancorporation 6% Oshkosh Overall , ... 3*4 Perfect Circle 27% 27 27 Prima Cos 8 7% 7% Public Service ~ •••,. Public Service N P ... 18*/2 17Vi - 18 Public Service 6% pfd 55 Public Service 1% pfd 61 Quaker Oats pfd .. ... I}B Reliance Mfg Cos 16% 16% 16% Sears Roebuck 45% Signode Steel Strapping .. ... 1% Signode Stl Strap pfd.. 8% 7% 8% Sivyer Steel Cast • g% Stutz Mot Car Cos of Am 8 7% 7% Suift &Cos 17'4 16*4 16% Swift International ... 28% 28 28 Thompson J R 8% 8 8 U S Gypsum com 49% Utility & Ind pfd Vortex Cup Cos , ... 9 Vortex Cup Cos A 26V4 26 26*4 Walgreen Cos com 20*4 19% 19% Ward Mont A 100% 100 100% Wisconsin Bankshares 3% Zenith Radio 3% 33 Other Livestock BY UNITED PRESS LAFAYETTE, Jan. 23.—Hogs—Market, 10® 20c higher; 170-225 lbs., $3.45®3.60; 225-275 lbs.. $3.35®3.40; 215-325 lbs.. $3.2563.30; 140-170 lbs., $363.20; 120-140 lbs.. $2.5062.75; 110-120 lbs.. [email protected]; 110 lbs. down. $1.75; roughs. $2.15 down. Top calves, $6. Top lambs. SB. By Times Special LOUISVILLE, Jan. 23.—Cattle— Receipts, 200; supply very light; quality generally plain; market fully stead: bulk, common to medium steers and heifers. $3.7564.50; cutter grades down to $3; well finished fed kinds mostly $0.75 6 5.75; bulk beef cows. $2.50®3.25; top. $3.50; low cutters and cutters mostly $1.25 6 2.25; sausage bulls weak, mostly $3 down; bulk, common to medium native Stockers and feeders, $2.7563.75; calves, receipts, 200; steady; bulk better grade vealers. $565-50; strictly choice kinds, $6; medium and lower grades, 54.50 down. Hogs—Receipts. 1,300; steady: 160210 lbs.. $3.75; 215-250 lbs.. $3.65; 255 lbs. up. $3.50: 130-155 lbs., $3.40; 110-125 lbs., $3.15; 105 lbs. down. $1.60; sows, $2.40; stags, sl.lO Sheep—Receipts. 25; steady; bulk, medium to good lambs. $6.5067.50; choice, quotable to $8; bucks, subject to $1 discount: most throv/out lambs. $4.50; fat ewes, $262.50. Births Boys Joseph and Edna Staab, St. Vincent’s hospital. William and Letha Bolles, St. Vincent’s hospital. Edgar and Mary Densford, St. Vincent s hospital. Albert and Helen Rucker, St. Vincent s hospital. Rolla and Grace Willey, St. Vincent s hospital. George and Helen Kersey, St. Vincent t hospital. Albert and Myrtle Bruce, St. Vincent’s hospital. Leo and Betha Huth. 1741 South Tablot. Emory and Hazel Wlnings, St. Vincent’s hospital. Walter and Irene Miller, 1028 Tabor. Girls John and Jane Miller, St. Vincent’s hospital. Nathan and Rae Resnick, St. Vincent's hospital. Floyd and Vincena Hughett, 901 South New Jersey. Twins John and Zoe Taylor, city hospital. Deaths Margery Hall, 26, Methodist hospital, pulmonary tuberculosis. Patrick Reidy, 64. Big Four Railway, coronary occlusion. Mary Sophia Akin. 74. 3360 North Meridian, acute gastric dilatation. Nancy Foster, 84. 1450 Oliver, chronic nephritis. Sarah F. Johnson. 68. 42 South La Salle, cholelithiasis. Julia Cox, 69, 446 Douglas, chronic interstitial nephritis. Paul Johnigans, 41, 415% West Ninth, lobar pneumonia. Harry A. Rothert, 67, 2435 Ashland, chronic Interstitial nephritis. Walter Thompson. 53. Methodist hospital, lobar pneumonia. Nelson Turner. 37, 2437 Ethel ( pulmonary tuberculosis. Henry Phillips, 55, 537 West 28th, cerebral hemorrhage. Plumbing Permits Portor Pate, 620 North Bancroft; two fixtures. Strong Bros., 600 West Ray; thirtyeight fixtures. Wm. Curtis, 232 North Jefferson: three fixtures. Wm. F. Steck, 5440 Kenwood; six fixtures. Wm. F. Steck. 5609 North Pennsylvania; ten fixtures. Wm. F. Steck, 3914 Spann; two fixtures. Wm. F. Steck, 5130 North Illinois; nine fixtures. J. S. Stone, 5174 Sangster; one fixture. Tom Mulney, 928 West New York; two fixtures. In the Air Weather conditions at 9 a. m.: West wind, 18 miles an hour; temperature, 33; barometric pressure, 30.21 at sea level; general conditions, clear; ceiling, unlimited; visibility, 35 miles. CWA BUILDING PROPER ANIMAL ENVIRONMENT Detroit Zoo Endeavors to Make Residents at Home. By Z'nited Press DETROIT, Jan. 23.—The Civil Works Administration, reaching as it does into all phases of American life, has found one of its most unusual and interesting projects in Detroit. One thousand, two hundred CWA workers are busy here creating a reproduction of the South American pampas and a replica of a Mongolian temple at the Detroit Zoological park. A dozen rare South American animals will romp on the “pampas” when it is completed and Siberian tigers will prowl among the shadows around the finished temple. Joseph Pellenberg, German sculptor and zoologist, is supervising the project, which is costing $200,000. CWA ELIMINATES RATS Campaign Requested by Public Safety Commission. By United Press LINCOLN. Neb., Jan. 23.—Lincoln CWA workers now are cast in a role similar to that in Hamlin town's Pied Piper. Armed with copious supplies of cyanide gas. civil works employes have initiated a rat extermination campaign. The workers were assigned to the campaign at the request ot Commissioner B. F. Harm, public safety head.

SWINE VALUES RISE 15 CENTS AT STOCKYARDS Lamb Mart Moves Higher; Cattle Strong and Undeveloped. An advance of 15 cents over yesterday’s average was displayed in hog trading at the Union Stockyards this morning. Strength appeared in practically all classes, with initial demand strong. An increase also was evident in receipts compared with the previous figure. The bulk, 160 to 250 pounds, sold at $3.55 to $3.70, while 250 pounds and upward were salable at $3.30 to $3.50. Lighter weights, 130 to 160 pounds, brought $3 to $3.40. Small slaughter pigs weighing 100 to 130 pounds were available at $2 to $2.75. Receipts were estimated at 9,000. Holdovers, 202. With a definite trend not established in the steer market, indications were steady to slightly stronger than yesterday. Several early loads held at $5.25 to $6.50 and above. She stock showed little change. Receipts numbered 1,800. Vealers continued stationary, selling at $7 down. Receipts were 600. Lamb market' was slow and not fully developed, with indications pointing around 25 cents higher than yesterday. Few small lots held at $9 down. Bulk of choice kinds were salable at $9 25 and above. Receipts were 2,000. Trading was active on hogs at Chicago, with most grades selling around 5 to 10 cents higher than yesterday’s average. Initial top held at $3.65. Receipts were estimated at 29,000, including 9,000 directs; holdovers, 3,000. Cattle receipts were 7,500; calves, 2,000; market strong. Sheep receipts, 11,000; market strong. HOGS Jan. Bulk. Top. Receipts. 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 20. 3.40® 3.55 3.60 5.000 22. 3.40® 3.55 3.60 8.000 23. 3.55® 3.70 3.70 9,000 Market, higher. (140-160) Good and choice....s 3.15® 3.40 —Light Weights—-(l6o-180) Good and choice.... 3.70 (180-200) Good and choice.... 3.70 —Medium Weights—-(2oo-220) Good and choice.... 3.60© 3.65 (220-250) Good and choice.... 3.55® 3.60 —Heavy Weights—-(2so-290) Good and choice.... 3.45® 3.50 (290-350) Good and choice.... 3.35® 3.45 —Packing Sows—(3so down) Good i 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® 2.75 CATTLE Receipts, 1,800; market, steady. (1.050-1.100) Good arid choice $ 5.75® 7.00 Common and medium 4.00@ 5.75 (1.100-1,500) Good and choice 5.25© 7. 1 Common and medium 4.00® 5.*5 (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® 2.50 Low cutter and medium 1.25® 2.25 —Bulls (yearlings exclude!) Good (beef steers) 2.50® 3.25 Cutter, common and medium.. 1.50® 2.50 VEALERS Receipts, 00; market, steady. Good and choice $ 6.50® 7.00 Medium 4.00© 6.00 Cull and common 2.00® 4.00 —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 (800-1,500) Good and choice 3.75® 4.75 Common and medium 2.50® 3.75 SHEEP AND LAMBS Receipts, 2,000; market, higher. 90 lbs. down) Good & choice..s 8.75® 9.25 (90-110 lbs.) Good and chofce. 8.50® 9.00 (90 lbs. down) Com. and med. 6.00® 8.00 —Ewes— Good and choice 2.75® 3.75 Common and medium 1.50® 2.75 Other Livestock BY UNITED PRESS By United Press CHICAGO, Jan. 23.—Hogs—Receipts, 29,000, including 9,000 directs; active to 10c higher than yesterday; 160-300 lbs., [email protected]; top, $3.70; pigs, [email protected]; packing sows, [email protected]; light lights, 140160 lbs., good and choice, [email protected]; light weight, 160-200 lbs., good and choice. $3.35 @3.70: medium weights, 200-250 lbs,, good and choice, $3.50@3".70; heavy weights. 250350 lbs., good and choice, [email protected]; packing sows 275-550 lbs., medium and choice, [email protected]; slaughter pigs, 100-130 lbs., good and choice, s2@3. Cattle—Receipts, 7,500; calves, 2,000; yearlings and light steers steady to strong; heavies slow, about steady; she-stock strong to shade higher; bulls easy; vealers 25c to 50c up; early top long yearlings $7.25; selected vealers $7.50 and higher; slaughter cattle and vealers: steers, 550-900 lbs., good and choice, [email protected]; 900-1,100 lbs., good and choice, $6©7.40; 1.100-1,300 lbs., good and choice, ss© 7.25: 1,300-1.500 lbs., good and choice, [email protected]: 550-1.300 lbs., common and medium, [email protected]: heifers, 550-750 lbs., good and choice. ss@7; common and medium, s3@s; cows good. [email protected]; common and medium, $2.50®2.90; low cutter and cutter, [email protected]; bulls vearlings excluded, good beef. $3®3.40; cutter common and medium, $2.50® 3.15; vealers. ?ood and choice. s6® 7.50; medium, ss® eeder cattle: steers, 550-1,050 lbs., good 6; cull and common, s4®s; stocker and and choice, $3.50®5; common and medium, $2.50©3.50. Sheep—Receipts, 11,000; fat lambs slow, indications around steady; best medium weights held above $9.50: sheep little changed: around $2.50®4 on common to choice native ewes; slaughter sheep and lambs: Lambs 90 lbs. down, good and choice, $8.50©9.50; common and medium, [email protected]; 90-98 lbs*, good and choice. $7.50 @9.35: qwes, 90-150 lbs., good and choice, [email protected]: all weights, common and medium, $1.50@2. (5. CLEVELAND, Jan. 23.—Cattle—Receipts, 200: market, steady: choice steers, 750MOO lbs., $5.25©6.15: 550-900 lbs., ss© 6; 900-1.200 lbs., ss@6; heifers, 600-1.000 lbs.. [email protected]; good cows, all weights. $2.50® 3.25; calves, receipts, 400: market active and steady; choice to prime. s7®B: choice to good. $6.50®7: fair to good, ss® 6 50. Sheep—Receipts. 1.000; market active and 25c higher; new tcp for year: choice wethers. s4®s; medium to good, $2.50® 4; choice ewes. $3.50®4.50: common, $2.50 @3 50; choice spring lambs. $8 [email protected]; medium to good, [email protected]. Hogs—Receipts. 800: market, steady; 250-300 lbs.. $3.40® 3 60: choice mediums. 220-250 lbs., $3.60® 3 90; 180-210 lbs.. $3.90; 150-180 lbs., $3.90; pigs. [email protected]. EAST ST. LOUIS. Mo„ Jan. 23.—Hogs— Receipts. 10.000; market, active. 15 to 25c higher than yesterday's average; pigs opened steady to strong; bulk unsold, sows 10 to 15c higher: bulk. S6O-230 lbs . $3 60® 3.70; top. $3.70 : 240-260 lbs., $3 50®3.55; few. 130-140 lbs., [email protected]; 80-120 lbs., $2.©2.60; sows. $2.40®2.85. Cattle—Receipts, 3,000: calves, 1,200; market opened strong to 25c higher on steers; mixed yearlings, heifers and cows steady to strong; bulls and vealers unchanged with top vealers $6.50; top, 1,116 lbs. steers. $6.60: other steer sales. $4.75®6.50: mixed yearlings and heifers, [email protected]; cows. $2 35 @2.75; low cutters. sl2s© 1.50; top sausage bulls, $3; slaughter steers. 550-1.100 lbs., good and choice $5.25® 6.75: common and medium. $3.25© 5.75; 1.100-1.500 lbs., choice, [email protected]: medium. $3 5005 25. Sheep—Receipts. 2.500; market opened fully 25c higher: better wooled lambs, to all interest. $9.25; fall clipped lambs to packers. $8 25; throwout lambs. ss® 6.50: fat ewes, quotable $4 down; lambs. 90 lbs. down, good and choice. $8.50® 9 25: common and medium, $5.2508 65: 90-98 lbs., good and choice. $8 25® 9 25: yearling wethers, 90-110 lbs., good and choice. $5 75 @1.50: ewes. 90-150 lbs . good and choice. $2 50©4; all weights, common and medium. $1.5003. PITTSBURGH. Jan. 23 —Hogs—Receipts. 500; holdovers. 600: open slow, early sales, 170-210 lb. weights, $3.90: 220 lbs. up. $3.50®53.75: 140 lbs. down. s2©3. according to weight and quality: packing sows, quotable steady. $2.85 down. Cattle—Receipts. 15: nominal. Calves—Receipts. 50; steady to 50c higher; bulk, good and choice vealers. $7®7.50: selected kinds at the latter figure, medium, ss@6. Sheep— Receipts. 100; top lot fat lambs. $9.25; quality absent; sorted fat lambs, eligible to bring higher prices. FT. WAYNE. Jan. 23—Hogs—10®20c higher: 160-200 lbs., $3.60; 2M-250 lbs., $3.50; 250-300 lbs., $3.40 , 300-350 lbs. $3 25; 150-160 lbs.. $3 25: 140-150 lbs.. $3; 100-130 lbs.. $2.35; roughs, $2.75; stags, $2. Salves. $7; western lambs. $8.75; native iambs, $8.25.

I —Today and Tomorrow — Japanese Militarist Propaganda May Have Serious Implications for the Future. BY WALTER LIPPMANN

THE most seasoned American observers of far eastern affairs have been disposed to make large allowances for the Japanese militarist propaganda on the ground that its immediate purpose is to justify large military appropriations in the budget now under consideration. Nevertheless, this propaganda is taking a form which may have serious implications for the future, and it would be a mistake not to call attention to them. What is to be feared is that the propagandists will commit Japanese opinion and Japanese public men to projects that are impossible to realize, that bridges will be burned, the Japanese national honor engaged.

This propaganda seems to be bent upon establishing two principles. One is that, all treaties to the contrary notwithstanding, no one must question the Japanese advance in Asia. Indeed, last week there was expressions of pained astonishment in Japan because the United States, though offering no active opposition, does not by recognizing Manchukuo give its approval to the treaty breaking. 000 THE other is that in the naval conference scheduled for 1935-36, Japan must have a navy equal to Britain’s and America's. These two principles combined are formidable. If they were accepted, they would destroy the whole basis of the treaty relationship set up in the Washington conference. Let us recall what those relationships were. The United States came to the Washington conference with

a naval building program under way which, if completed, would have made us the first naval power. The British had an alliance with Japan. The Japanese had taken a big bite out of China. The Washington conference was a compromise in the interests of general peace. The United States gave up naval supremacy and accepted equality in capital ships with Great Britain. The British gave up their Japanese alliance. Japan and the United States agreed upon a

ratio of three to five. In return the United States agreed not to fortify islands in the western Pacific, thus making it impossible for the American navy to give battle on the Asiatic side of the ocean. Japan in return gave up Shantung and signed the nine-power treaty recognizing the integrity of China. 000 NOW, as Secretary Stimson pointed out in 1932, all these agreements were inter-related. We, for example, did not build a navy which outclasses Japan two to one because Japan pledged herself to a non-aggressive policy as respects the Asiatic mainland and the Asiatic Islands. We did not fortify our j own outposts because we have no ambitions of our own in Asia and were willing to renounce the possibility of the use of force in. that part of the world. But if Japan is now going to claim the right to override all her treaties and at the same time to possess a navy equal to ours, the^, whole basic settlement of twelve years ago will be undermined. This has one very important practical consequence. The time is already at hand when it is necessary to discuss the renewal, the improvement or the abrogation of the naval treaty. The Japanese should not deceive themselves. No American congress would ratify a treaty giving naval equality to Japan, most especially after the demonstration since September, 1931, of how aggressively the present rulers of Japan employ armaments. THEREFORE, the Japanese should know that if they commit themselves to the doctrine of a free hand in Asia plus naval parity, they had just as well be frank about it and admit that the naval treaty is to lapse and the naval conference is not worth calling together. Asa matter of fact, if Japan is to demand naval equality, it would be dangerous to the peace of the world to hold a conference. For a conference under such conditions would simply advertise and exacerbate the irreconcilable positions. This is not the view of American jingoes or professional anti-Japa-nese. It is, I believe, the view of men who, looking at the matter without passion or prejudice, realize that propaganda such as is now b#ing put forth in Japan may, if it is not checked, put Japan in a position of isolation in the world from which it would be extremely difficult for her to retreat. (Copyright, 1934)

Bright Spots

By Abbott. Hoppin Sc Cos. Report of the Detroit Edison Company for the year ended Dec. 31, shows earnings of $4.83 a share, against $5.21 in 1932. Manhattan Shirt Company has declared two quarterly dividends of 15 cents each, payable March 1 and June - 1. This is the first payment since March 1, 1933, wfien a 15-cent quarterly payment was disbursed. Stockholders at the annual meeting recently approved reduction in stock from 300,000 shares to 230,000 shares. Chesapeake & Ohio Railroad Company total loadings for the week ended Jan. 20 amounted to 25,630 cars, against 26,974 in the previous week and 23,779 in the like week of 1933. California crude oil output during the week ended Jan. 20 averaged 458,400 barrels daily, off 16,450 from the previous week. Proctor & Gamble Company and subsidiaries in quarter ended Dec. 31 earned 39 cents a share on the common stock, against 64 cents in the previous quarter. Last six months’ earnings totaled $1.03 a share, against 64 cents in the same 1932 period. Factory sales of automobiles in December totaled 84,045 units, against 63,904 in November and 107,353 in December. 1932. Sales for the year totaled 1,959,201, against 1,370,678 in 1932. Blue Ridge Corporation declares the regular quarterly dividned 1-32 of a share of common stock, or 75 cents on the $3 convertible preferred stock, payable March 1, for holders of record Feb. 5. In the Cotton Markets —Jan. 22 CHICAGO High. Low. Close. January 11.10 March 11.26 11.17 11.17 : May 11.42 11.30 11.33 July 11.57 11.45 11.47 October 11.74 11.62 11.64 NEW YORK January 11.19 11.08 11.14 March 11.24 11 09 11.12 May 11.38 11.24 11.25 July 11.53 11.40 11.41 October 11 68 11.54 11 55 December 11.81 11.67 11.67 NEW ORLEANS January 11 09 11.03 11.03 March 11.17 11.07 11.10 May 11 34 11 20 11 22 July 11.49 11 36 11.38 October 11 63 11.52 11.54 December 11.77 11.68 11.68 The Seri Indians live on Tiburon island, only two miles out into the Pacific from the mainland of Mexico, yet are little more advanced 1 than ancient (sve men.

v.iv„ A j JHI V #1 j

Lippmann

Produce Markets

Delivered in Indianapolis prices—Hens. 10%c; Leghorn hens. 7*/ac; heavy springers over 5 lbs., 11c: unde. 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 leathered 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; No. 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 fuli 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—l6c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Jan. 23 —Eggs—Market, easy: receipts. 6,750 cases; extra firsts. 21%c: fresh graded firsts. 20*4c; dirities. 16® 18*ac; current receipts, 19%c: checks, 15© 18c Butter—Market, easy; receipts, 8,857 tubs; storage extras, 92 score. 18%c: storage standards. 90 score, 18%c: extra firsts, 90-91% score, 19'4®19%c; extras. 92 score. 19%c; firsts. 88-89% score, 18%©19c; seconds, 86-87*2 score, 17%©18c: standards, 90 score. 19*4c; specials, 20%©20*4C. Poultry—Market, unsettled; receipts, 49 trucks, no cars, 1 car due; turkeys. 10® 14c: hens. 12c: Leghorn chicks. B%c; colored springs. 13%c; old roosters. 7%c: ducks, 10®13c; geese. 11c; rocks, 14c. Cheese—Twins. 11*2© 12c; Longhorns. 12® 12%c: S. Dairies. 12%®12%c. Potatoes— Supply moderate; demand and trading slow; market, about steady. Idaho Russets, $2.15© 2.20; Colorado McClures. $2.45©2.50: Wisconsin Round White. $1.85; Minnesota, Northern Dakota Red River Ohios, $1.80®T.82%; shipments, 728; arrivals. 96: on track. 269. NEW YORK. Jan.—Potatoes—Dull; Long Island. $1.15© 2.25 per bbl.; state. $1.70©3; per bbl.; Maine. $1.15®3.50 per bbl.: Idaho, $1.90@235 per sack; Bermuda, ss© 6 per bbl.; Canada, $215©2.25 per bbl. Sweet Potatoes—Steady and firm: Jersey basket, 50c©51.50: southern basket, 90c© $1.15. Flour—Quiet and easy: springs: patents, $6.65©6.80 per sack. Pork—Quiet; mess, sl7 per bbl. Lard—Dull; middle west spot, [email protected] per 100 lbs. Dressed poultry— Firm; turkeys. 17©26c; chickens, 84/25c; broilers, 13© 23c; capbns. 18© 31c: fowls, 11© 17c; ducks. 11© 14c; Long Island ducks. 15%®16c. Live poultry—Easy; geese. 1 Tin 14c: turkeys, 15© 18c; roosters, 8c; ducks. B©2lc; fowls, 10© 14c; chickens, 104/12c; capons, 18c; broilers, 124/22c. Cheese— Firms; state whole milk flets. 1933. 174/ 19c. Butter- Receipts, 18.856 packages; market, steady at the decline; creamery, higher than extras. 19%©20%c; extra. 92 score, 19*/ac; first, 90 to 91 score, 194/ 19%c; first, 88 to 89 score, 17%@18%C; seconds, 16%4/ 17%c; centralized, 90 score, 19®19%c; centralized. 88 to 89 score. 17%4/ 18%c; centralized. 84 87 score, 16%© ;17%c. Eggs— Receipts, 16,079 cases; market, firmer; special packs, 24'/2@25%e; standards, 24c: firsts. 23c: mediums, 22c; dirities, 22c; checks, 20© 21c. CLEVELAND, Jan. 23.—Butter—Market, weak; extras, 24c; standards, 23%c per lb. in tubs. Eggs—Market, weak: extra whites, 20%c; current receipts, 20c. Poultry— Market, steady; colored fowl. 4% lbs. and up. 13@14c; medium colored fowls. 12c; Leghorn Leghorn fowl light. 9c; springers rock. 5 lbs. and up, 13®14c; springers colored, 4 lbs. and up, 12c; colored broilers, 18c; capons. 8 lbs. and up. 20©21c: ducks white, 5 lbs. and up. 15c; ducks light. 12c: geese heavy fat. 13c; ordinary, 11c: old roosters. 9c. Potatoes < all quotations based on U. S. No. 1 and 100 lb. sacks unless otherwise stated)—Maine Cobblers and Green Mountains best, $2.15©2.20: few $2.25; Idaho Russet Burbanks. $2.15© 2.25; few higher: bakers. $2.15 per 50 lb. box; Ohio. $1.50© 1.75 according to quality and condition: partly graded lower; New York best, $1®1.50 per bushel sack; Louisiana Bliss Triumphs. $1.50© 1.60; Colorado Brown Beauties. [email protected]; ' Florida, $2.25 bushel crate.

On Commission Row

—Jan. 23. Fruits Cranberries—Cape Cod early blacks, 25 lb. box, $2.40. Grapes—Semi-sawdust. 28-lb. lug, $3.25. *„^?, ars ~ Washington A'Ajou. 90-1655, $2.50: Anacandos. Fla., 16-16s. crate. $1.50. Strawberries—Florida. 18c per pint. Bananas—Per pound. sc. Apples—Wealthy, Wolf River, Grimes Golden. oJnathan, Florida, *1.35@2 a bu . fancy Staymans. $2.25 a box. Grapefruit— $2.50© 3.75. Oranges—California Navels. [email protected] a box. Vegetables Cabbage—Eastern Danish, 50-lb. bag. $1.60; new Texas. 50-lb. crate. $3.25 Onions—lndiana white. 50-lb. bag,, $1.40; Indiana yellow. 50-lb. bag, 61.50. Beans—Round stringless, hamper. $2.25; best, $2.75. Beets—Bulk per bu., $1.25; Texas, new. sl.6a a crate. Peas—2 B-lb. hampers. $3.50©4. Carrots—California. $3 a crate: per doz.. 60c; Michigan, doz., 60c; bulk per bushel, $1.15. Cauliflower—California (11-120, crate, $1.60. Celery Michigan Mammonth. dozen, 75c; 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, $3.25 @3.75; hothouse. 15-lb. basket. $1.65. Radishes—Hothouse button, 75c down. Spinach—New Texas. $1 per bu. Turnips—Per bu.. 85c. Tomatoes—Florida. 30-lb. bag. $3. Potatoes—Northern round whites. 100-lb. bag $2.35: R. R. Ohios. 100-lb. bag. $2.35; 15-lb. bag. 38c: Idaho Russets. 100-lb. bag, $2.60; Texas Triumphs, new. $2. 50-lb. bag. Sweet Potatoes —Nancy Halls, per bu.. [email protected]. NEW YORK COFFEE FUTURES —Jan. 22 SANTOS . High. Low. Close. January 9.43 March 9 62 9.45 9.59 May 9.82 9 60 9.79 July 9.95 9.75 9.92 September 10.28 -0.08 10.23 December ... 10 33 RIO January 6 .88 March 7.02 7.01 7.01 May 7.21 7 20 7.21 July ••• 7.37 7.34 7.34 September 7.42 7 36 7.36 December 7.59 7.45 7.59

Tills Is a Delightful Time to Visit BERMUDA In all the world there is no place more ideal than Bermuda for a > happy voyage abroad. There are coveted sights to see; unusual things to do; world famous places to visit. Just the kind of a pleasure trip you’ve probably been wanting, and the way you wanted it—economical—rates are astoundingly low yet with no sacrifice of luxury, convenience or comfort. Details on Various Bermuda Cruises May Be Obtained From RICHARD A. KURTZ, Manager Travel Bureau The Leading Travel Bureau of Indianapolis S UNION TRUSTS 120 East Market St. RI ley 5341

PAGE 15

MILD SELLIN6 WAVE REDUCES GRAIN PRICES All Months Drop Fractions After Traders Are Discouraged. BY HARMAN W. NICHOLS, United Pres, Staff Correspondent CHICAGO. Jan. 23.—Grain traders were discouraged by an easiness in stocks and cotton and started a mild wave of selling which sent valuer off fracticnally at the opening of the Board of Trade today. Wheat deliveries were unchanged to % cent lower, corn was off % cent, and oats were % cent lower. With money matters less of a factor in the market, the trade looked to the arid southwest for Incentive. Diminished interest in the wheat market seems to be a consolidation of ideas that the market is not yet ready for an advance, this ordinarily being a period of the year when prices are inclined to lag. Traders are conscious of the fact that crop conditions in the southwest are unfavorable, but realize that good moisture within the next month could easily change the entire picture. Chicago Primary Receipts —Jan. 22 —Bushels— Today. Last week. Wheat 617.000 433.000 Corn 1.106.00 1.056.000 Oats 237.000 224.000 Chicago Futures Range —Jsn. 23 WHEAT— Prev. High. Low. 10 00. close. May 89% .89 .89% .89% July 87% 87% .87% .87% Sept 89 .88 % .88% .89 CORN— May - 52 .51% .51% .51% July ..... .. .36*4 36% .36% .37% Sept 55*4 .55 .55 .55% OATS— May 38% .37% .37*4 .38% July 53*, .53% 53% .53% Sept 36*4 .35% .35% .38% ' RYE— May 61% .60% .60% .61% July 61 ’4 .61 .61 .62 BARLEY— May 50% .51 July 51 CHICAGO CASH GRAIN By United Press CHICAGO. Jan. 22 —Wheat—No. 3 hard. 90c: sample grade hard. 82c: No. 2 mixed. 89%c. Corn—No. 3 mixed. 49@49%c; No. 4, mixed. 48'4C; No. 6 mixed. 47%c; No. 2 yellow. 50@50*ic; No. 3 yellow. 48%@ 49*4c; No. 4 yellow, 47@48%c; No. 5 yellow, 47©47%c; No. 6 yellow, 46c; No. 2 white. 50%@50%c; No. 3 white. 49%@50c; No. 4 white. 48% ©49c. (Old) No. 6 mixed, 47c; No. 2 yellow. 51©51*4c; No. 3 yellow. 40%c; sample grade yellow, 49%c. Oats— No. 2 white. 38@38%c: No. 3 white, 37%® 38%c: No. 4 white. 37%c. Rye—No sales. Barley—Sales, 71®'72c; quotable. 48©76c Timothy—s6.4o©6 65. Cloverseed—slo.so® 13.75. Cash Provisions—Lard. $5.52; loose. $4.77; leaf, $4.75; S. Bellies. $6.50. TOLEDO CASH GRAIN By United Press TOLEDO. Jan. 22.—Grain close: (Grain in elevators, transit billing i Wheat—No. 2 red, 92%©93%c. Corn—No. 2 vellow, 55© 56c. Oats—No. 2 white. 41%©42%c. Rye —No. 2. 67*2@68 1 zzC. (Track prices. 28%C rate). Wheat—Nn. 1 red. 89©89%c; No 2 red. 88088 1 jc. Corn-No. 2 yellow. 50® 52c: No. 3 yellow, 49©51c: No. 4 veliow. 47%©38%c: No. 5 yellow. 46©47%c. Oats— No. 2 white, 38'->4/'4oc; No. 3 white. 38® 39%c. Toledo seed close). Clover—March. $8.50. Alsike Cash—B.so. „ ST. LOUIS CASH GRAIN By United Press ST. LOUIS. Jan. 22 —Cash grain: Wheat —ln fair demand: V* to lc lower on rod, and %c lower on hard: No. 2 red. 92c; No. 3 red. 91®91*4c: No. 4 red. 90%c: No. 1 red garlicky. 89c: No. 2 red garlicky. 91c: No. 3 red garlicky. 90c: No. 1 hard. 91'4c: sample hard. 81c: No. 1 dark hard. 91 %c. Corn—ln fair demand, unchanged: o. 3 mixed. 49c: No. 2 yellow. 50'4®50%c: No. 3 vellow. 50c: sample yellow. 45*4c. Oats—ln fair demand, unchanged: No. 4 white. 38c: sample white. 37%c: No. 2 mixed. 38%c. Nn, 4 red. 38%c; No. I burt. 39%c: No. 2 hurt. 39%c.

Indianapolis Cash Grain

—Jan. 22 The bids for car Jots of grain at the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41% New York rate, were: WHEAT-Easy. No. 1 red. 87fl88c; No. 2 red. 86®87c; No. 2 hard. 86^(87c. CORN—Steady: No. 3 white. 43'fi 44c; No. 4 white, 42ft43c; No. 3 yellow. 42R43c No. 4 yellow. 414142 c: No. 3 mixed. 41®42c: No. mixed. o@4lc. OATS—Easy; No. 2 white. 25®36e; No. 3 white. 34®£35c. HAY—Steady. <F. o. b. country points taking 23*'2C or less rates to Cincinnati or Louisville 1 . No. 1 timothy. *7.504i8; No. * 2 timothy, $7®7.50. —lnspectons WHEAT—No. 1 red. 3 cars; No. 2 red, 9 cars; No. 1 hard. 4 cars: No. 2 hard. 9 cars; No. 1 mixed. 1 car; No. 2 mixed, 2 cars: total. 28 cars. CORN—No. 3 white, 7 cars; No. 4 white, 3 cars; No. 2 yellow. 3 cars; No. 3 yellow. 9 cars; No. 4 yellow. 32 cars: No. 5 ellow. 2 cars; sample yellow. 1 car; No 1 mixed. 1 cars: No. 4 mixed. 1 cars: No. 6 mixed. 1 car: total, 60 cars. OATS—No. 2 white. 22 cars: No. 3 white. 3 cars: No 4 white, 1 car; total, 26 cars. INDIANAPOLIS WAGON WHEAT City grain elevation are paving 82 cents for No. 2 soft red wneat. Other grades on their merits. 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 fl 4 23 Coke, nut size (.75 Coke, egg size 8.75 Indiana, forked lump 6.50 Indiana, egg (04 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 8.25 Pocahontas egg 8.25 Pocahontas forked lump 8 25 Pocahontas mine run 7.25 New River smokeless 825 West Virginia lump 6.75 West Virginia egg 850 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and tl a ton for coal carried to bln. ,

W 9 xw COLLATERAL / U7 n LOANS ■ i\J No Co-Maker* Repaid Over a Whole Year The Indianapolis Morris Plan Cos. 8. E. Corner Delaware and Ohio 6t*. RI. 1538.