Indianapolis Times, Volume 45, Number 221, Indianapolis, Marion County, 24 January 1934 — Page 15

JAN. 24, 1934.

Government Continues to Extend Powers Over Business —Rugged Individualism Takes Its Bow* BY RALPH HENDERSHOT Timet Special Financial Writer

Rugged individualism appears definitely to be passing into the discard and the government is constantly reaching out either to control or at least supervise the operations of business. A great body of people welcome the change, but a smaller and more powerful group bemoan the development. The latter is weeping over a grave it dug with its own hands, however, for it is generally agreed that its misuse of Its powers has beeen the chief cause of the death of a principle held dear by the entire country up until a short time ago. Whether she change is for the best interests of the country remains to be seen. The theory that politicians are notoriously poor business men has been accepted quite generally. It is quite possible that most

people still hold to that view. But it may be argued that they could hardiy do worse than the rugged indtvidualists, no were not charged with responsibilities comparable to their powers. The latest development in the line of march is the recommendation by Joseph B. Eastman, Federal Co-ordinator of Transportation, that the government lay plans for the eventual acquisition of the carriers. He would not have the roads taken over at this time, however, but his objections to this were based on practical rather than on fundamental reasons. a a a Bankers Fight for Power Beneath the surface, but not too far beneath, a fierce struggle is going on at the present time to hold the operations of the banks and the control of the nation’s monetary policy for the ruggedly individualistic bankers. Having failed in their attempt to discredit the Roosevelt monetary program, the bankers are making a last-ditch fight to retain some

' a

Ralph Hendrrshot

vestige of power for themselves. Currency revaluation, government gold capture and virtually every other feature of the emergency legislation have been grudgingly approved, but the right to issue currency and the right to dominate the nation’s monetary policy through the Federal Reserve banks is being guarded with all the powers at their command. The Committee for the Nation has just offered a bill for the consideration of congress and the President, which would turn these rights over to a specially created governmental department to be known as the Federal Monetary Authority. It maintains that neither the Federal Reserve banks nor the treasury department should have them, the latter because it is a heavy borrower of funds and might regulate the monetary policy in a biased manner. a a a a a a Code Covers Wide Range It is obvious, of course, that the code system under the NRA places a definite limit on what individuals may or may not do in the conduct of their businesses. It affects the large and small in almost every line of endeavor. But in taking over the rights to manage business the government is assuming greater responsibilities than it ever had before. No longer will it be able to “pass the buck" to Wall Street when things go wrong. In the next depression—assuming that we have another—the people will be asking Washington for an accounting. And if the books do not balance, almost anything might happen.

New York Stocks

"• " ' "!Bt Abbott. H —Jan. 24 — Prev. High. Low. 10:30 close. Amerada .. Ati Rig .%SStik, *. 3** 33% Barn; (la 11 A*. Consol Oil ..*. X -V 12 .. Cont of Del .a—. .. x( 1914 19% Houston inewi,* „ 4X J, Houston loldi., y 3X 27% 2i% Mid Cont Pet X X* 13% 13% Ohio OH ....... X 19% J? Pft Corp ..Wa. X ** }’ 2 J* 2 Phillips Pet X X* Hl* 1< Pure Oil ....*. X • 12% 12% Royal Dutch ...... 3.% 37% Sod Oil 34 33% 34 32 * Shell Un 19 9% Simms Pet —. • 10 • 1® 2 Skeilev 011 —X X 3••• 6boc Vac .... - .w* 17% 17 SO Os Cal x 4f S O of Kan ... X. ••• 37 * SOof N J *v 47% 47% Sun Oil - X. ••• 38 Texas Corp ... . f.% 27 * Tidewater Assn. . Xe J®** J9J* Un Oil of Cal... 19% 19% 19% 19% Am Koll Mills... .. ... 22% 22% Beth Steel 46 45% 45% 45 s Bvers AM 30 30 % Col Fuel A Iron T . *> 8 ® 2 true Steel ..... X 44. ... 37 Gulf Sts Steel.. X 4% 35 % “5 Inland Steel .*.2 Xi • - f®, Ludlum Steel .. X 44 McKeesport Tin. . —> *0 . Natl Steel ~ -s- 5'% 57'* Hep Iron A Steel 21% A 21 * 28 * Kep I A Stl pfd 52' 51% U S Smelt - I®l Vanadium ...... • • 26 * Mid Steel U S Pipe & Fdy 24% 24 s U S St%l 57% 56% 5i% 56% U S Steel pfd.... .. ... 8 s Youngst'n SAT*. X. - 1 26 b Atchison T tj. ®® • Can Pac * & 16% j® •* Ch ft Ohio X X* 44% 44 Chi & Gt Vi.... —4% 4% C M St St P . _ 6% CMA St P pfa 10 9% 10 9s Chi N W 10% 10% Chi R Isl 5% 5 Deia & Hud .... Erie e. 44 •at,, *0 2 Grt Northern pf .. + 26 2 2b * 111 Central X 4X 36 * 35% K C Sou ...... x JX • I®, 8 Lou ft Nash .* X 3X 58 - 4 58 8 M K & T ...** 4. # ... 13% Mo PaC .... A. X *X 5 5 Mo Pac pfd .t... —•— 7% 7% N Y Cent N Y C A St L P ... 25% N Y New Haven 20% 20% 20% 20% N Y Ont A Wes 10% Norfolk & Wes •• I<s Penn R R X... 36% 36% 36% 36 Sou Pac .. •• 2 ‘ * 2 * 2 Soil R R . 32% 32 32 31% P f< L& •* * I=4 12 % Motors— Auburn .. ... 52 52 - Chrysler 54’* 54-* 54% 54 1 * Gen Motors v 38’ 38’4 Graham Mot 3;* Hudson X <Z 19% 18 Hupp X 3* 8 * ,9 8 Mack Truck M . X ji ... 3< Nash .. .m.i.iJ. 2 Sb 29% 28% Packard aiNf. X £ 4 * 4’* Reo -WAT. A X. ... 4 Studebaker .... I X. 6% 6% Yellow Truck ..A ss*5 s * 5% Motor Access— Bendix v —. 20% 20% Bohn Alum A A 68 s * 68 Bore Warner .*A A 25% 25% Btiggs £ 5% 14% 14% Budd Wheel .o •* 4% 4% Eaton Mfe ... .. * v l?. 8 IS, EVc Auto Lite.t A 65. 24% 23 s * Houd A X X* 5 I! 8 MpiUns Mfe .AX X. ... * Murrav Body X X 3y ... 8% Stew Varner A A B’* 8% T’.mken Rol -.5 X S* 34% 34% Minin*— Alaska Jun .. *• 22 ??1 8 Arr. Smelt 4UI -• ... 46 4a% Anaconda .. I>U 16’* 16% 16% 16 s * Cal & Hecla - r . ... 5% Cerro De Pasco. —. JD% 36% Granby X rs* " 10?* Gt Nor Ore ... A X ••• _l* * Homestake Min. 4 at 320 Howe Sound .* x # •*:, 3 I 5 j|‘ Kennecott Cop. X X* 22% 22 Noranda Cop X **- 34 3 s Phelps Dodge m X # > li 1 * 18 Tobaccos— Am Snuff ...... Am Sum Tob .. . .a. ... 18% Am Tobacco A. 71% Am Tobacco B .4% .3% Gen Cigar .. 30% 30% Lite A- Myers 8.. ... 86% 85 Lorrlllard .. 1% 1* 3 1< l*% Rcvr.o'.ds Tob B 43% 42% 42% 41 s * Equipments— Allis Chamicrs 20% 20% Am Car A- Fdy 28% 28% Am Loco 33 32% Am Mach A Fdy 17 16% 17 17 Am Steel Fdy.. .. ... 23% 24 Bald Loco 13% 13% 13% 13% Burroughs ... 17% 17% Case J 1 79 78% 79 78% Carter Tract 28% 28% Col Palm Pee:.. 13\ 13% 13% 13% Cor.goleum 28% 27% Elec Stor Bat 52 51 Foster Wheeler.. M ... 17** 17% Gen Am Tk Car . . ... 39% Gen Elec *.. 22% 22% Gen R R Sis ... .. ... 42 42% Insse! Rand ... .. 66% Int Bus Mach 146 Int Harvester .. 44% 44 44 % 43% Kelvinator ..... 14% 14 14% 14 Natl Cash Reg 21 20% Proc & Gamble 41% Pullman Inc 57% 57% Simmons Bed .. 21% 21% 21% 21% Und Elliot 50 West Air B 32 Westmgh Elec.. .. ... 43% 43% Worthington Pm 29% 29 Utilities — Am A For Pwr .. ... 10 s * lfi% Am Power A Lit .. ... 9 8% A T A T 119 118% Am Wat Wks .. .. ... 23% 22’* Brook Cn Gas. 73 Col Gas A Elec. .. ... 14% 14 s * Com A Sou .... .. ... 2% 2 s * Consol Gas . 43% 43\ 43% 43% Elec Pwr A Lit. 6% 6% 6% 6 s * E P A L pfd 13% lot T * T 16 15% Lou GAEA Nat Pwr A Lit 11 s * 11% North Amer .... 19% 19 s * 19% 19 s * Pac G A E 19 Pub Serv N J .. .. ... ... 40 s * So Cal Edison... .. ... 19 s * 19 s * Std Gas .* *. 10 9% Std Gas pfd ... v , ... 10% United Corp ... X aa* 7 6% Un Gas Imp ... . a*. 17% 17% Ut Pwr A Lit A. „ I* 3% 4 Western Union. .. X. 61% 61% Rubber*— Batrestor.e ...... .. ... 33 31%

Wall Street

JDDIn Jk Oa-t ~ U S Rubber .... „ 1814, igvi U 8 Rubber pfd. X 33 ... * 30% Kel Spring X ... 3y* Amusements— Crosley Radio „ .. ... 111*, Fox Thea ..., v h 14% 15 ‘is !*• i nc •••• 29% 29% 29% 29 v Radio Corp 8 % 2 1 /m 3 Warner Bros 7*4 7 7Vg 7 Foods— A?J„o S u U r Ka A r 553/4 555 s |* 55% Beatrice Cream .. *** ,4 c£i d poking.;;; as * . 23V ’ % ?..* J £ 'H> f7 Com Prod ...... J 2 81% Crm of Wheat. 4. ft 3.1* Gen Foods 2 ft asai ?ii/ Gold Dust .. .r. i ft G w Sugar Int Salt T 2 £ ft ll * L>ose Wiles ..J, I JT *** 7, Natl Biscuit ... I S'-*" I7 Natl D Prod ... 4. JT %g Purity Bak Z. I,? 1 S Porto Rico S. .. "* Std Brands .... 24% 24% *24*4 941® Ward Bak A ... * TANARUS” 6 2 Wrl *'*y X X. *56 55 Retail Stores— U X V Co OOdS ’- T IT 14 143 8 Gimbel Bros* ’.’.*.* I ft 30 3 2a Gimbel pfd ..... Z ft *" Gr Un Tea .... j, 77 *** %% Hahn Dept Sts . J ft Jewel Tea ft /8 ,s'* Kresge S S ft 'iji/ j!L Kroger Groc ... .. ft 99% 9i Macy RH...:: ft S * May Dept St J ft §5 8 Mont Ward ft 27% 27% Penny J C .. 2 =g, B Safeway St .. - * 2 Sears Roebuck . ft ‘4714 4 fi7/ Woolworth 2 ft 49% Aviation— Aviation Corp .. .. 97, 03 . Douglass Air ... j,. 20% 20% Curtiss Wright . ... 33,® 33^ Curtiss Wright A ai. 71” Nor Am Av ... g3._ g 3 United Aircraft. 35% 35% 35% 35 Chemicals— Air Reduction 1041/. Allied Chem {54 Am Com A1c0... 01% 61% *61% 61% Col Carbon g 4% 64 Com Solvents 353 353. Dupont 46% 46% 46% 41% Freeport Tex .. 46% 46% 46% 46% Liquid Carb 30 30 Math Alkali ...... ... 39% 40 Tex Gulf Sulph ... ... 4040% Union Carbide 49n. 403. U S Ind Alco ... ... i 93 * Natl Dis (new). 37% 27 27% 26% Drugs— Coty Inc e 6 :- A 27% 27% 27% 26% Lehn <fc Firk ... ... . 17 Zonlte Prod ...... ... ’7% 71^ Financial— Adams Exp 10% 10 10% 9V Allegheny Corp 4s. 43“ Chesa Corp 40 Transamerlca 7v 71,4 Tr Conti Corp 5s 8 Building— 8 Am Radiator ... 16% 10% 16% 16% Gen Asphalt jgs* 191; Int Cement 34’g 343 Johns Manville .64 63 % 64 63% Libby Owens Gls 42% 42 Ot‘ s El pv 19 18% Ulen Const ... 33* Miscellaneous— Am Bank Note. 18’ 8 17 Am Can A ... 103 102 7 8 Anchor Cap * ... ... 22 Brklvn Man Tr 331Conti Can 80 7 s 80 3 * 80 7 * 80 3 4 Eastman Kodak 87 Owens Bottle .. ... 85% 84% Otfj* l ** * . 12 11% Ghdden A ... 18% 18% Gotham Silk ... A 10 9% Indus Rayon 2 JL 93% 93 Inter Rapid Tr. X E ... ns. Real Silk Hose .3, ... n%

U. S. Government Bonds

By United Press NEW YORK. Jan. 23—Closing liberties. 'Decimals represent thirty-seconds, i Liberty 3%s 132-47) 10026 First 4%s (32-47) 101 29 Fourth 4%s (33-381 102.11 Treasury 4%-3%s 145) 99.2 4%s (47-521 106 4s (44-54' 102 28 3%s (43-47) 99 25 3%s 41-43) March 99 24 4%s 14r-43) June 99 30 3%S <4ll 99 2 3%S (46-491 97 8 3s (51-55) 95 22

Daily Price Index

By United Press NEW YORK Jan 23—Dun & Bradstreet s daily weighted index or thirty basic commodities compiled for the United Press (1930-32 Average. 100) Today 104 59 Yesterday 104 47 Week Ago 104.27 Month Ago 100.23 Year Ago 69.74 1934 High (Jan 19* 104 87 1934 Low (Jan. 3( 101.05 Copyright. '34. bv Dun & Broadstreet. Inc.

Federal Farm Loan Bonds

Bv Blyth & Cos.. Inc.) —Jan. 24 Bid. Ask. 4s. Nov. 1. 1957-37 90% 92 4s Mav 1. 1958-38 90% 92 4%5. July 1. 1956-36 91 92% 4%5. Jan. 1. 1957-37 91 92% 4%5, Mav 1. 1957-37 91 93% 4%5, Nov. 1. 1958-38 91 92% 4%5. Mav 1. 1942-32 95 96% 4%5. Jan. 1. 1043-33 92% 93% 4%5. Jan. 1. 1953-33 92 % 93% 4%5. July 1. 1933-33 .......... 92% 935, 4 .'S, Jan. 1. 1955-3592% 93*. 4%5. July 1, 1955-35..... 92% 93% 4%5. Jan. 1, 1956-30 -a- : 92% 93% 4Vs. July 1. 1953-33 94’. 96 4%5, Jan. 1. 1954-34 -Y- 94% 90. 4%5. July 1. 1934-34 94* 96 5s May 1. 1941-31 98% 100 te. Nov. 1. 1941-31 98% 100 Home Loan 4a, July 1. 1981... 98% 88

ISSUES DISPLAY SMALL GAINS IN ACTIVETRADING American Dollar Eases as Commodity Prices Advance.

Average Stock Prices

Average of thirty industrials for Tuesday: High 107, low 104 47. close 106.62. up 1.53. Average of twenty rails: 48.19, 47 02. 48 11 up .57. Average of twenty utilities: 27.08 26 48, 26 96, up .11. Average of forty bonds: 88 60, off .22 Average of ten first rails: 94 29, off .28. Average of ten second rails: 76 55. off .26. Average of ten utilities: 93.71, up .02. Average of ten industrials: 89.87. off .35. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Jan. 24—Stocks made small gains at an active opening today. The dollar eased slightly, and commodities made moderate advances. Automobile issues were in demand despite reports showing a slowing down in the industry. The Iron Age today reported that the automobile makers w'ere expected to release large steel tonnage orders within the next fortnight, although this week the industry w’as responsible for a reduction in the country’s steel operating rate. Several issues in various sections made new highs for the past two years, including Douglas Aircraft at 20%, up % on 3,000 shares; and Hudson Motors 1914, up \ on 3,000 shares. Du Pont equaled its high at 101 V*, up % on 1,000 shares. New r York Central was up nearly a point at 38%. Smaller gains were noted in Atchison, Pennsylvania and Chesapeake & Ohio. Utilities advanced fractionally in fairly active turnover. Steel issues continued to move ahead in anticipation of higher operations. Steel common opened at 56 T 4 up % on a block of 1,000 shares, while Republic firmed up % to 21 on 2,000 shares, and Bethlehem up % to 46 on 1,200 shares. Wet stocks were firm as were farm equipments, electrical equipments, mercantile issues and coppers. x During the early trading, volume increased so rapidly tickers fell behind. Prices continued to advance. Steel common made a new' high on the movement, while General Motors made a new' high since 1931. Du Pont broke through its former 1933-34 high. Rails bettered their initial gains.

Bank Clearings

INDIANAPOLIS STATEMENT —Jan. 24 Clearings $1,802,000.00 Debits 4,226,000.00

Treasury Statement

By United Press WASHINGTON, Jan. 24.—Government expenses and receipts of the current fiscal year to Jan. 22. compared with the corresponding period of the previous fiscal year: This Year. Last Year. Expenses $3,384,740,464.26 $2,943,923,869.81 Receipts $1,634,726,047.67 $1,112,242,536.22 Deficit... $1,750,014,416.59 $1,831,681,333.5? Cash Bal. .$ 509,842,210.20 New York Curb (By Abbott, Hoppin & Cos.) —Jan. 23 Close Close Allied Mills 8% Gulf Oil of Pa.. 75 Alum Cos of Am 85 Hiram Walker.. 52% Am Beverage... 2VHud Bay Min.. 9% Am Cyanide 8.. 18% Humble Oli 39% Am Gas & El.. 27%'lmp Oil Ltd 13% Am Superpower 3% Int Petrol 21% Atlas Corp 13% Lake Sh Min 44 British Celanese 3% Lib McN Libby. 4% Can Indu Ale A 19% Massey Harris.. 6% Can Marc 2%Mt Producers... 4% Carrier Corp... 7% Natl Bellas Hess 2% Cities Serv 3% Newmont Min.. 53 Commonwlth E 53% Nia Hud Pwr.. 6’© Consol G of Bal 58% STovadel Agene.. 62 Cord Corp .... 7% Pan-Am Airways 47 Creole Petrol. 12 Penn Road 3% Crown Cork Int 6% 3t Regis Paper.. 3% Deere & C 0... 31% Sal Ck Products 6% Distillers Lim... 20%Sherwin Wms.. 57 Distillers Corp 23% Std of Ind 32 Dow Chem 75% Std of Kv 16% El Bond & Sh. 18 Stutz Mts' 8% Fisk Rubber ./. 13% Technicolor Ind 10% Ford of Can A 19% Teck Hughes G. 6 Ford of Europe 6 Un Pwr &Lt A 4% Gen Aviation.. 6% Wr Hargraves M 7 Glen Alden Cl. 13%1

Investment Trust Shares

(By Abbott, Hoppin & Cos.) —Jan. 23 Bid. Ask. American Bank Stocks Corp.. 1.05 110 American & General Sec A... 500 6.00 American Inv Tr Sh.>. 1.60 2.50 Basic Industry Shares 3.53 .3.63 British Type Inv Tr Sh 72 7f, Collateral Trustee Shares A.. 5.12 5.25 Corporate Trust Shares (old) 2.66 2.20 Corporate Trust Shares (newl 2.45 2.49 Cumulative Trust Shares 4.28 4.35 Diversified Tf-ust Shares A ... 6.25 .... Diversified Trust Shares B ... 8.25 8.50 Diversified Trust Shares C 3.28 3.32 Diversified Trust Shares D.... 510 5.20 First Insurance Stock Corp .. 1.34 1.40 First Common Stock Corp 83 .98 Fixed Trust Oil Shares A 9.00 9.15 Fixed Trust Oil Shares B 7.75 7.87 Incorporators Investments ... 18.75 19.25 Land Bank Bond Shares 93 1.03 Low Priced Shares 625 .:.. Mass Inv Trust Shares 18 82 20.40 Nation Wide Securities 3.50 3.60 North American Tr Sh (53)... 1.90 .... North American Tr Sh (55)... 248 252 North American Tr Sh (58)... 2.75 3.00 Selected American Shares .... 3.02 .... Selected Cumulative Shares .. 750 .... Selected Income Shares 3.60 4.00 Std American Trust SharesA.. 3.12 318 Trust Shares of America .... 2.98 3.02 Trustee Std Oil A 5.50 5.62 Trustee Std Oil B 5.25 5.37 U S Electric Lt & Pwr A.... 12.00 12.50 Universal Trust Shares 3.16 3.22

Foreign Exchange

(By Abbott. Hoppin & Cos.) —Jan. 23Close. Sterling. England $5 00% Franc. France 0627 Lira. Italy .0838 Belgias. Belgium 2231 Mark. Germany 3785 Guilder. Holland 6430 Peseta. Spain 1299 Krone. Norway 2515 Krone. Denmark 2235

Bright Spots

By Abbott, Hoppin & Cos. Atchison railroad loadings for own lines and connections in week ended Jan. 20 totaled 21.499 cars against 21.033 in the previous week and 21,480 in the like 1933 week. Norfolk & Western Railroad Company December net income was $2,069,321 after payment of taxes and all charges against 52,050,901 in December. Income for the year totaled $22,301,140 after payment of all charges and taxes against 516.811.918 in 1932. American Iron and Steel Institute reports that steel operations for the week beginning Jan. 22 are indicated at 324 per cent of capacity against 34 1-5 per cent in the previous week. Auburn Automobile Company and subsidiaries report for year ended Nov. 30, shows a net loss of 82.307.973 after payment of all charges against a net loss of in the previous pear.

THE INDIANAPOLIS TIMES

Chicago Stocks " 'By Abbott. Hoppin Ac Cos.) TOTAL SALES 93.000 SHAKES —Jco. 23 High. Low. Close. Abbot Lab .., , 42% 42% 42% Acme tSteel Cos ... 37 Advance Aluminum..,. 3% 3% 3% Allied Products 15 12 15 Asbestos Mfz 3% 3% |<4 Associate Inv Cos So Bastlan-Biesslng ....... 7 6% 7 BendlX Aviation... 20% 19% 20% Binks life 2 Borg-W'arner 26% 24 25** Brbwn Fence Ar Wire A ... 6% Brown Pence A; Wire B .. .. 1% Butler Bros 7% 5% <% Cent 111 Pub Serv Dfd. 16 15% 16 Cent Pub Serv Class A % Cent Pub Util . % Cent & So W’est 174 IS 1% Cent & So West Dfd ? a Cent &SW' P L Dfd ~ 11% Chi & North Western... 10*4 10% 10% Chicago Coro Com . . 2% 2% 2*4 Chicago CorD Dfd .... 26% 25% 26 Cities Service 3% 33% Club Aluminum % ,_% Commonwealth Edison. 54 53 53 /2 Construct Materials Dfd J 4 Consumers % Consumers 77c Dfd 3% Continental Steel ••• ‘ Cord CorD 774 7% 7% Crane Cos B% 9 Crane Cos pfd J* Electric Household lu^J Godchaux B • Goldblatt Bros 30 29% 30 Great Lakes Dredge ••• -*% Grigsby Grunow % 74 '• Houdallle Hershey A... .. ... I*% Houdaille Hershey 8... .. ... f Illinois Brick ••• 5/4 111 Northern Util . Ind Pneu Tool - ... . I?,* Ken Rad Tube & Lamp 344 3% 3% Kentucky Ut Jr Cum pf }?% Keystone Steel —•„ If. 2 Libby McNeil 474 4V4 4% Lincoln Printing % Lindsay Light Vs Marsh aH° Field.'.'.'..'... 16% i5% 16 js McGraw Electric #% McWilliams Dredge Cos. 20 19 19% Nachmann Springfield 5 National Standard 23% 23 23 Noblitt-Sparks Ind Inc 13*2 13% 13% North American Car 2% Northwest Bancorpora 6% Perfect Circle 28 2774 28 Primi Cos 8 7% 8 Process Corp 374 3% 3% Public Service N P ... 18% Public Service 67- pfd.. 56 54% 54% Public Serv 7% pfd 61 Quaker Oats 119 Quaker Oats pfd 120 Raytheon V T C 274 Reliance Mfg Cos 1674 1674 16% Ryerson & Son 1774 Standard Dredging Cos 1 3 4 Standard Dredging Cos p 3% Stutz Motor Car C of A 874 774 8% Swift &Cos 17 167-4 17 Swift Internacional ... 29*4 2874 2974 Thompson. JR. 8% Transformer Corp of A .. ... 7-4 Twelfth St Store A 2 United Printers & Pubs % U S Gypsum com 49 Utah Radio 2 174 2 Utility & Ind pfd 32% 274 Viking Pump 474 Wahl 1% 174 174 Walgreen Cos com 2074 1974 2074 Ward. Montgomery A ..10374 10074 10374 Waukesha Motor ... 23% Zenith Radio ... 37-4

In the Cotton Markets

—Jan. 23 CHICAGO. High. Low. Close. January 11.15 March 11.22 11.05 11.22 Mav 11.40 11.22 11.33 July 11.52 11.37 11.52 October 11.69 11.52 11.69 NEW YORK. January 11.10 10 93 11.10 March 11.15 10.97 11.14 May 11.30 11,13 1128 July 11.44 11.29 11.44 October 11.60 11.44 11.59 December 11.71 11.57 11.71 NEW ORLEANS January 11.08 March 11.14 10 96 11.14 May 11.29 11.12 11.28 July 11.44 11.27 11.43 October 11.57 11.43 11.57 December 11.70 11.56 11.70 Other Livestock BY UNITED PRESS LAFAYETTE. Jan. 24.—Hogs—Market, 5c to 10c lower; 170-225 lbs.. $3.4003.50; 229275 lbs., $3.300 3.35; 275-325 lbs., $3,200 3.25; 140-170 lbs., [email protected]; 120-140 lbs., $2.50 0 2.75; 110-120 lbs,, [email protected]; 110 lbs. down, $1.75: roughs, $2.75 down; top calves, $6.50; top lambs, SB. TOLEDO, Jan. 24.—Hogs—Receipts, 200; market, steady. Calves—Receipts, light; market, strong. Cattle—Receipts, 300; market strong. Sheep and lambs —Receipts light: market, strong. By Times Special LOUISVILLE, Jan. 24.—Cattle—Receipts, 300; slaughter classes in light supply; demand dependable; market generally steady: bulk common to medium, steers and heifers, $3.7504.50; cutter grades down to $3; well finished fed steers and heifers, mostly $4,750)5.75; bulk beef cow r s, $2.50W3.25; practical top, $3.50; most low cutters and cutters, $f.25©2.25; sausage bulls, quotable mostly $3 down; run includes two loads desirable light Stockers, considered salable mostly $4.50@5‘ common to medium natives largely $2.75 0 3.75. Calves—Receipts, 200; vealers mostly 50c higher; bulk better grades, $5.50®6; few strictly choice, $6.50; medium and lower grades. $5 down. Hogs—Receipts, 1,000: market, unevenly s©2oc lower, due partly to change of sort; 170-210 lbs., $3.70; 215240 lbs., $3.50; 245-270 lbs., $3.30; 275 lbs. up, $3.20; 140-165 lbs., $3.20; 110-135 lbs., $2.95: no market on light pigs; sows, $2.30; stags, sl. Sheep—Receipts; market, steady; mostly $6.500.7.50 for medium to good lambs; choice kinds eligible $8; bucks subject to $1 discount: throwouts. $4.50; fat ewes, $202.50. Births Boys Carlos and Nellie Carroll, Methodist hospital. Dwight and Irene Warnock. Methodist hospital. Harvard and Virginia Finke, Methodist hospital. William and Gwendolla Cox. Methodist hospital. Carroll and Alice Wells, Methodist hospital. Oral and Agnes Bridgford, Methodist hospital. Denzil and Jennivive Oldham, 912 St. Peter. John and Wlima Lemmon, 4226 Manlove. Allen and Margaret Clark, 2604 West Riverside drive. Rawlans and Elizabeth Brown, Coleman hospital. Harold and Helen Brunson, Coleman hospital. Edward and Ruth Herndon, Coleman hospital. Roy and Margaret Schmaltz, Coleman hospital. Hugh and Margaret Thorpe, Coleman hospital. Girls George and Thelma Kiefer. Methodist hospital. Joseph and Frances Arbuckle, Methodist hospital. Fred and Hazel Wehmeier, Methodist hospital. Harold and Edna Mcßnight, Methodist hospital. Charles and Thelma Buchanan. Methodist hospital, Edward and Ethel Poska, Methodist hospital. Arthur and Mary Jones, Methodist hospital. Max and Mildred Recker, Methodist hospital. Clifford and Jane Plake, Methodist hospital. Walter and Mary Berg, Methodist hospital. Aubrey and Vera Brown, 3925 Hoyt. Edward and Mary Rosebrock, 1816 South Delaware. Kenneth and Naomi Arnold, Coleman hospital. Thomas and Ruth Bramlett, Coleman hospital. Walter and Madge Klley, Coleman hospital. Ernest and Gladys Swallers, Coleman hospital. Oather and Martha Tate, Coleman hospital. Edward and Sarah Berger. Long hospital. Deaths Johnna Sullivan. 61. 2459 North New Jersey, acute dilatation of heart. Eva Henderson. 44, Long hospital, broncho pneumonia. Margaret Specht. 33, Methodist hospital, carcinoma. Frances Oscaretta Benz. 70. 515 West Chesapeake, pulmonary tuberculosis. Hulah Lowenstein Lesem 64, 415 East Firtieth. coronary occlusion. Arta A Britton. 59, cty hospital, coronary occlusion. Mattie Lee Whitehead. 30, 1115 North Pershing, lobar pneumonia. Irene aßiley Tanner, 40. 1250 West Twenty-sixth, influenza. Hattie Treon, 87. 1936 Ludlow, chronic myocarditis. Walter Fisher. 37, St. Vincent's hospital. cerebral hemorrhage Harry Paul Kellar. 23. 4705 East Nineteenth. pumonary tuberculosis. John Koontz. 1. Methodist hospital, streptococcic laryngitis. Esther Howard. 31. city hospital, pulmonary hemorrhage. Harry S. Colt, 78, 6144 Cornell, arterio sclerosis. Mary J. Means. 85. 230 West Forty-sixth, arterio sclerosis. . William Joseph Edwards. 15, city hospital, general peritonitis. Harvey William Coy. 57. 2803% Cornell, chronic myocarditis. learner Kimberlin, 54. 916 Ewing, aortic aneurism. Robert Lee Hubbell, 2. 205 North Arsenal, endocarditis. TORTURERS STEmT"S4OO 70-Year-Old Man Burned with Pokers; Loses Life Savings. Bp United Press LONDON, Ont„ Jan. 24.—Three robbers today tortured Charles McNeil, 70, painter, with red-hot pokers until he revealed where he had hidden his ike savings of (400.

SWINE MARKET STEADY TO 5 CENTSLOWER Cattle Mostly Unchanged: Vealers Strong at $8 Down. Despite a strong demand for hogs at the Union stockyards this morning, most classes were around 5 cents lower than yesterday’s average. Several underweights remained unchanged. Receipts were extremely heavy and initial trade active. The bulk. 160 to 250 pounds, was selling at $3.50 to $3.65, while 250 pounds and upward sold at $3.25 to $3.45. Early top held at $3.70. Lighter weights scaling 130 to 160 pounds were salable at $3 to $3.40, while small slaughter pigs, 100 to 130 pounds, brought $2 to $2.75. Receipts were estimated at 10,000. Holdovers, 175. Activity in the cattle market was slow, with most bids slightly lower than the previous session. Several loads w'ere valued at $5 to $6.50. She stock ruled firm. Receipts were 1,300. Strong tone prevailed in veals and most kinds advanced 50 cents to $1 over yesterday’s close, selling at $8 down. Receipts numbered 700. Lamb prices were weak to around 25 cents lower, with native grades selling mostly at $9 down. Fed held around $9.25. Receipts were 1,000. Asking on hogs at Chicago remained steady with yesterday’s average. Few early bids ranged 15 cents low'er at $3.50. Receipts were estimated at 35,000. including 8,000 directs. Cattle receipts were 13,000; calves, 2,000. market weak. Sheep receipts numbered 11,000; market strong. HOGS Jan. Bulk. Top. Receipts. 18. $3.50(5; 3.60 $3.65 8,000 19. 3.50'S 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 24. 3.50@ 3.65 3.70 10,000 Market, lower. (140-160) Good and choice....s 3.25® .40 —Light Weights—-(l6o-180) Good and choice..., 3.65 (180-200) Good and choice.... 3.65 —Medium Weights—-(2oo-220) Good and choice.... 3.55® 3.65 (220-250) Good and choice.... 3.50® 3.55 —Heavy Weights—-(2so-290) Good and choice.... 3.40® 3.45 (290-350) Good and choice.... 3.30® 3.40 —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® 2.75 CATTLE Receipts, 1,300; market, steady. (1,050-1,100) Good and choice $ 5.75® 7.00 Common and medium 4.00® 5.75 (1,100-1,500) Good and choice 5.25® 7.00 Common and medium 4.00® 5.25 (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 excluded) Good (beef steers) 2.50® 3.25 Cutter, common and medium.. 1.50® 2.50 VEALERS Receipts, 700; market, higher. Good and choice $ 7.50® 8 00 Medium 5.00® 7.50 Cull and common 3.00® 5.00 —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, 1,000; market, lower. 90 lbs. down) Good & choice..s 8.75® 9.25 (90-110 lbs.) Good and choice. 8.50® 9.00 (90 lbs. down) Com. and med. 6.00® 800 —Ewes— Good and choice 2.75® 3.75 Common and medium 1.50® 2.75 Other Livestock By United Press CHICAGO, Jan. 24.—Hogs—Receipts. 35,000 including 8.000 directs: fairly active mostly 10c lower than yesterday;' 160-310 lbs., $3.2503.60; top $3.60 on 180-200 lbs., pigs mostly $2.25 0 2.60; packing sows. $2.75 (93; light lights 140-160 lbs., good and choice, $2.75©3.60; light weight. 160-200 lbs., good and choice, $3.20 0 3.60; medium weights, 200-250 lbs., good and choice, $3.4003.60; heavy weights, 250-350 lbs., good and choice, $3.1503.50; packing sows. 275-550 lbs., medium and choice, $2.60® 3.10; slaughter pigs 100-130 lbs., good and choice, *203. Cattle—Receipts. 13,000; calves, 2,000; choice light yearlings about steady; other steers weak to 25c lower, slow; lower grade heifers weak; most cows fuliy steady; bulls 10c to 15c lower: vealers tending lower; early top 1.037 lb. yearlings $7.35: slaughter cattle and vealers: steers, 550-900 lbs., good and choice, $6®7.50; 9001.100 lbs., good and choice, $607.50; 1,1001,300 lbs., good and choice. $507.25: 1,3001.500 lbs., good and choice. $4.25©6.25; 5501,300 lbs., common and medium. $3.25© 5.25; heifers 550-150 lbs., good and choice. $5 ©7; common and medium. s3®s: cows good, s3®4: common and medium. $2.50® ;3: low cutter and cutter. $1.50®2.65: bulls yearlings excluded good beef. s3® 3.40; cutter common and medium. $2.25© 3.10; vealers, good and choice. $607.50; medium. 5506: cull and common. s4® 5: stocker and feeder cattle; steers 550-1.050 lbs., good and choice. $3.50®5; common and medium. $2.50 0 3.50. Sheep—Receipts, 11.000: fat lambs opening slow, undertone weak to 25c lower: talking, $909.25 on good to choice: indications around steady on Increase supply aged sheep: slaughter sheep and lambs: lambs 90 lbs. down, good and choice. $8 50©9.35; common and medium. $6®8.65: 90-98 lbs., good and choice, $7.50 ©9.25: ewes. 90-150 lbs., good and choice, $2.25®4.10: all weights common and medium. $1.5002.75. EAST ST. LOUIS. HI,. Jan. 24.—Hogs— Receipts. 9,500; market, fairly active: lighter weights steady to 5c lower: weights, 210 lbs. and up, weak to 10c lower; sows, steady; pigs, 10®25c higher; bulk. 150-210 lbs.. $3 65 ®3.70; top. $3.70; 220-250 lbs.. $3.50© 3 60; 130-140 lbs.. s3® 3.40; 100-120 lbs., $2.2502.75; sows. $2 6502 85. mostly; few at $3. Cattle —Receipts. 3.200; calves, 1.500: market, not established on steers: receipts of this class liberal and indica*:ons weak to lower; mixed, yearlings and heifers, very low and bids lower w r ith a very few early sales steady: bidd ng Sower on cows and bulls: vealers. 50c higher with top kind. $7; slaughter steers. 5501.100 lbs., good and choice. $6.250 6.75; | common and medium. $3.25®.5.75: 1.100- i 1.500 ibs.. choice. ss® 6.60: good. s4® 6.25: j ' medium. $3.50©5.25. Sheep—Receipts. 1500: market, few lambs to city butchers. 10 : I © 15c higher: asking higher for others; $9.50 paid for few choice wooled lambs and $8.35 for a few fall clipped lambs; lambs. 90 lbs., down, good and choice. $8.50©9.50; common ana medium, $5.25© 8.75: 90-98 lbs., good and choice. $8 25© 9.35: yearling wethers. 90-110 lbs., good and choice. $5.5007.50: ewes. 90-175 lbs., good and choice. $2.50© 4: all weights common and medium, $1.5003. PITTSBURGH. Jan. 24—Hogs—Receipts. 600: holdovers. 600; 15©25c higher: 160210 lbs.. $4 10; 220-250 lbs., $3.90© 4: 250 lbs. up. $3.75® 3.90: 120-140 lbs.. s3© 3.25: 120 lbs. down. $2.50©3: packing sows. $3 down. Cattle—Receipts. 15; nominal. Calves—Receipts, 50; steady to 50c higher: bulk, good and choice vealers. $7.50; top. SB. Sneep—Receipts. 200; top lambs, 35c higher at $9.60: common to medium. ss® 8.50: yearling wethers, quotable up to $7; aged wethers, $5 down; fat ewes, $4.25. CLEVELAND. Jan. 24.—Cattle—Receipts, 225: mostly cow and bull market: trade slow but steady; choice. 750-1.100 lb. steers. $6 25© 6 *5: 550-900 lb. ss© 6 : 900- ' 1.200 lb.. ss®6: heifers. 600-1.000 lb.. $4 25 ©5 50; good cows, all weights. $2.500 3 25: ! bulls, $2.50 0 3.25. Calves—Receipts 400: market, steady with packers paving top i prices freelv: choice to prime. s7® 8: choice •o good. $6 50 ©7: fair to good. SSO 6.50. Sheep—Receipts. 1 200: market continues active and strong at highest level in two ! vears: bulk of finest lambs bring $9 with top of $9 50; choice wethers. s*©s; med- ; ium to good. $2.50© 4: choice spring lambs. s9©9 50: good to choice. *BO 9: medium to good. *6© 6 Hogs—Receipts. 1.200: market j not definitely established due to announce- ! ment that government had re-entered market to purchase about 16.000 light I hogs of 100-200 ibs. for purpose of cutting ' down pork surplus; lightweights. 5 cents lower: 250-300 Ibs.. $2 50 : 300 ibs.. $3 50© 3 60 : 220-250 lbs.. $3.60; 180-210 lbs., t? 85; 150-180 lbs, $3.85; pigs, $2 50©2.75. FT. WAYNE, Jan. 24.—Hogs—Steady to 50 cents lower; 160-200 lbs.. *3.55 : 200-250 lbs.. $3.45; 250-300 lbs., *3.35; 300-350 lbs , $3.20; 150-160 lbs., $3 25: 140-150 lbs.. $3; 130-140 lbs., $2.75; 100-130 lbs., *2.35; roughs, *2.76; stags, $2. Calves—Receipts, *7 50; Western lambs. $5.75; native lambs, ls2k

—Today and Tomorrow — Why Do Administration Supporters Object to Amendment of Gold Bill? It's a Difficult Question. BY WAITER LIPPMANN

It is very difficult to understand why supporters of the administration should object to an amendment of the gold bill which distinguishes between, a temporary method of managing the currency and a permanent method. The question at issue is not whether we are to devalue, or to reflate, or to attempt to control the purchasing power of the dollar, or to have the treasury capture the gold profit, or to vest “title" to the gold in the government, or to have a stabilization fund, or do any of the other things that are authorized in this bill. The question is whether it is desirable, without any full consideration of the

problem, to vest these powers permanently in the executive. None of the other great Roosevelt measures which involve the exercise of powers comparable with these is set up permanently in its present form. The A. A. A, is to terminate with a proclamation by the President, that “the national economic emergency in relation to agriculture has been ended.” The NRA is set up for two years. In both instances it was recognized that at the end of the emergency there should be an orderly reconsideration of the results before these reforms are made permanent. Why should the procedure be different in providing for the management of money? Is there any good reason why the immense problem of where to vest the permanent power of currency management should be settled in two weeks, without adequate debate, and under the pressure of an emergency?

I realize that to raise this question is to seem to oppose the purposes of she bill. I am In favor of vesting its powers in the executive for a reasonable period of time. But it seems to me most unwise to vest these powers permanently in the .

tnese powers permanently in the executive without decent considera- I tion of what that means. It is wrong in principle to decide such a question in the excitement of a moment. It is politically bad to do so because it means that at some later date there will be precipitated a political struggle, based not on the merits of a managed currency, but on the cry that the dollar has fallen into partisan hands. Why the Democrats should wish to make themselves vulnerable to such an attack, when they can deflect it now by a simple amendment, I can not imagine. The whole problem of where to place the power to manage the currency is not very well understood by any one. It has not been dis- j cussed in the United States for j twenty years, that is to say, not since the federal reserve system was created. It is inconceivable that it has been adequately considered by the President’s technical advisers; if it has been, their views on the question are not publicly known. Yet it is a problem of the first magnitude. For only by a correct decision as to whom to intrust with the power to manage the dollar can there be any assurance that the experiment of. managing the dollar will be successful. There is little likelihood that the decision can be made correctly by Saturday night. a a a TT is not only the administration which is unprepared to settle this question permanently. The opposi- j tion has not had time to study it. i either. For example, there is an opinion widely held in some quarters that central banking and currency management can be completely divorced from the government. Recently, for example, the HeraldTribune stated that ‘it is interesting to note that England, with its acknowledged fine tradition of central banking, has a central bank over w'hich the government has no control whatsoever.” Even technically this has not been true since the currency and bank notes act of 1928. Actually it is not true at all, as one can learn from Kisch and Elkins’ book on “Central Banks” to which Mr. Montague Norman contributes a foreword. “There can be little doubt that in practice there is at all times close and continuous co-operation between the bank and the government when important issues are involved, and in exceptional periods of the gold standard and at ether times “had there been a variance of opinion between the two authorities, the government, with its exceptional responsibilities, must in the last resort have been empowered to enforce its will.” a a a ALLjthis goes to show that the task of setting up the supreme monetary authority is an immensely complicated problem. It ought to be examined, studied, and debated for a considerable time before a final decision is reached. The gold bill as it now stands does not provide for any period of waiting before a final decision. Yet the measure will, nevertheless, be examined, studied and debated since it raises issues of transcendent importance. But once the measure is passed in its present form, any attempt to change the location of these powers will almost surely turn into a partisan battle to deprive the resident of powers. If, on the other hand, his powers lapse by law, the question of where to 1 place them permanently will be far less embittered and dangerous. It will not then be a question of taking away his powers, and appearing to give him a vote of no confidence, but of settling a question acknowledged to be open. The unamended bill invites confusion. All that can be accomplished by rushing it through unamended is to make it difficult for constructive criticism to do its work in perfecting the policy and to make it very easy for destructive criticism to attack the foundations of the policy. (Copyright. 1934.)

Retail Coal Prices

, The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed. DOMESTIC RETAIL PRICES Anthracite sl4 25 Coke, nut size r'7s Coke, egg size g. 75 Indiana, forked lump 5 50 I Indiana, egg B OC 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 8.7$ West Virginia egg .56 Island Creek 7.00 Extra charge of 80c a ton for wheeling coal, and $1 a ton for coal carried to I NEW YORK COFFEE FUTURES —Jan. 23 SANTOS High. Low. Close. January 9 45 March 9.64 9 59 9 59 Mav 9 82 9.78 9.78 Julv 9.95 9 90 9.90 September .. 10 28 10 22 10 23 December 10.38 10 32 10 32 RIO January g 88 March 7.03 7.00 7.03 Mav 7.23 7.19 7.22 Julv . . 7 34 September 7 46 7.43 7.46 December ... 7.60 NEW YORK RAW SUGAR FUTURES —Jan. 23 High, Low, Close. January 1.40 1.37 1.37 March 1.46 1 42 1.43 May 1 50 1 46 1.47 July W> 1.55 1 50 1.51 September .* ~. 1.58 1.53 154

■W X

Llppmann

Produce Markets

Deliyered in Indianapolis prices—Hens. 10 2c; 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 °c: under 5 lbs., 4c; ducks. 4% libs, and over, iuj! 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. 22© 23c; No. 2, 19© 20c. Butterfat—l6c. Quoted by the Wadley Company. BY UNITED PRESS CHICAGO, Jan. 24.—Eggs—Market easy; receipts. 5.034 cases; extra firsts. 21c; fresh graded firsts, 20%c; diritles. 16© 18c; current receipts, 19c; checks. 15® 18c. Butter—Market, steady; receipts. 4.652 tubs: storage extras. 92 score. 18%c storage standards, 90 score. 18%c; extra nrst-s, 90-91’ 2 score, 19fa 19’.iC; extras, 92 score, 19%c; firsts. 88-89% score. 18%© 18%c; seconds, 86-87%c, 17%©18c: standards. 90 score. 19%c: specials. 20©20%c. Poultry—Market, firm; receipts, 39 trucks no cars one car due; turkeys, 10© 14c; hens, 12c; Leghorn chicks. B%c; colored springs. 13%c; old roosters. 7%c; ducks, 11© 14c; geese. 12c; rocks, 11c. CheeseTwins, 11 %® 12c: Longhorns. 12©12%c: S. daisies. 12 1 4© i2%c. Potatoes—Supply moderate, demand and trading rather slow; market, slightly weaker: Wisconsin $1.8001.85; commercials, $1.70; Idaho Russets, $2.10© 2 15. few higher; combination Rrade. $1.85© 1.90: Colorado McClures, $2.40© 2.45; shipments. 915; arrivals. 86; on track. 259. CLEVELAND, Jan. 24.—Butter market weak; extras. 23%c; standards. 23%c per - ln market, weak; extras white. 20%c: current receipts, 20c. Poultry market, steady; colored fowl, 4% lbs. and up. 13@14c; colored fowl, medium 12c; Leghorn fowl, 3% lbs. and up. 10®llc; Leghorn fowl, light, ,9c; springers. Rock, j and up - 14c; springers, colored, 4 lbs. and up, 12c; colored broilers. 18c: capons. 8 lbs. and up, 20©21c; ducks white. 5 Ibs. 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, $2.1502 25; mostly $2.20©2.25; few higher; Ohio. $1.50 © 1.75. according to quality and condition; partly graded lower; New York best. sl© 1.50 per bushel; Louisiana Bliss triumphs. $1.50©.1.60; Colorado brown beauties, $2.25; Florida. $2.25 per bushel. INSURANCE ASSETS RISE TEN MILLIONS New England Mutual Life Shows Business Gain. Despite the banking and insurance moratoria, the New England Mutual Life Insurance Company increased its assets by more than "a0,000,000 to a total of $288,335,000 during 1933, according to a report today by George W. Smith, president of the company. Premiums received, exclusive of annuities, were 13 per cent greater than those in 1932. Interest actually received from investments, amounted to $12,882,000, within 1 per cent of the investment returns in 1932. New policy loans were $8,000,000 less than in the preceding year, while borrowers repaid more than $2,000,000, an amount practically equal to repayments in 1932 when their was no banking holiday, the report stated. It was announced the company will continue its dividend scale without reduction during the present year, and that it has voted $11,100,000 for distribution in 1934. For a period of five years the company has paid $167,000,000 to policyholders, of which $110,000,000 went to the living and the remainder to widows, orphans and other dependents.

On Commission Row

J&n. 24 Fruits Cranberries—Cape Cod early blacks, 25 lb. box, $2.40. Grapes—Semi-sawdust, 28-lb. lug, $3 25. Pears Washington A'AJou. 90-1655, $2 50; Anacandos. Fla., 16-16s. crate. $1.50. Strawberries—Florida. 18c p*r 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—s 2 Oranges—California Navels. *4414,50 a box. Vegetables Cabbage—Eastern Danish. 50-lb. bag. $1 50; new Texas. 50-lb crate, $3.25. Onions—lndiana white, 50-lb. bag., $1.40; Indiana yellow, 50-lb. bag. $1.50 Beans—Round stringless, hamper. $2.25; best. $2.75. Beets—Bulk per bu., $1 25; Texas, new. $1 65 a crate. Peas—2 B-lb. hampers. $3 50414. Carrots—California. $3 a crate; per doz., 60c: Michigan, doz.. 60c; bulk per bushel, $1.15. Cauliflower—California (11-12 C). 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 t4-ssl crate. $3.25 S3 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. Ohio*. 100-lb. bag $2.35; 15-lb. bag. 38c: Idaho Russets. 100-lb. bag $2 75: Texas Triumphs, new $2 50-lb. bag. Sweet Potatoes —Nancy Halls, per bu.. $l.6O'S 1 65. CHICAGO FRUIT MARKET By T nited Preaa CHICAGO. Jan. 24 Apples—Michigan Jona*‘ans. bushel. 51.354ii.50: Wagners and Baldwins, bushel. $1.2545 140 Carrots—lllinois, 404i 50c bushel Spinach— Texas. 90c'a*l bushel. Beans--Southern, green. $1854/2 35 wax. $2 254/2 65. Mushrooms—lllinois. 154/27'jc pound cartons. Cucumbers—Hothouse, $3 4/4 Toma'oes--Florida. >1.25412.25: hothouse. $1,104/1.25, 8 pounds. Leaf Lettuce—lllinois hothouse. 154/ 17’2C box. Celery—Michigan. 254/75c square crate. Cabbage—Wisconsin. $1.304z 2. 100-pound sack. Parsnips—lllinois. 754/ 90c bushel. Sweet potatoes—lllinois. sl6 135 bushel: Indiana. $1 504/1.75 bushel. Rhubarb—Michigan, hothouse, 25@55c, 5pound cartons. Onion market 15? 1*7., sackst: Western—Valencias. *1.1541135 Central Western yellows. $1.159120. Western—Whites, $1,754(2. By auto road, it is 3,265 miles to San Francisco from New York; over the air route it is duly 2,568 miles.

PAGE 15

GRAINS IGNORE BULLISH NEWS, PRICESUNEVEN Local Wheat Supply Small; High Winds Reported in Southwest. BY HARMAN IV. NICHOLS Unitrd Press Staff Correspondent CHICAGO. Jan. 24.—Bullish news t from the stock and cotton exchanges virtually was ignored by the grain trade today and prices were were unsettled at the opening of the Board of Trade. Wheat futures ranged from % lower to % cent higher, corn was unchanged to % cent lower, and oats were* % cent higher. High winds are aggravating moisture deficiency in the southwest. and while the trade realizes it is still too early to have a crop scare, the memory of what occurred last year still lingers. Primary receipts of wheat have been small lately and a steady reduction in the visible supply is expected. The local stock of wheat is small which, in ' view of the light farm holdings, is something for the May shorts to think about. Chicago Primary Receipts —Jan. 23 —Bushels— Today. Last week. Wheat 210 00 277.000 Corn 673.000 688 000 Oats 153.000 167 000 Chicago Futures Range —Jan. 24 WHEAT— Prev. High. Low. 10 00. close. May 90% ,90 .90% .90% July 88% .88% ,88% .88*4 Sept 90% .89% .89% .89% CORN— May 52% .52% .52’ * .52% July 54% 54% .54% 54% Sept 56 .55% .55% .56 OATS— May .38% .33% .38% .38% July 37% .37% .37% .37% Sept .. .. .36% RYE— May 61% .61 % .61% .62 July 62% .62 ,62% .62% BARLEY— May .. 52 .51% July .. .. .52 CHICAGO CASH GRAIN By United I’rrs* CHICAGO, Jan. 23.—Cash grain: Wheat No. 2 red, 90%c; No. 3 red, 89c; No. 2 hard, 90©90%c; No. 3 hard, 85%c weevilv. Corn—No. 3 mixed, 49%c; No. 4 mixed, 47%©48%c: No 5 mixed. 47%c; No 2 yellow, 50%c; No. 2 yellow old, si®sl%c; No. 3 yellow new 48%©49%c; No. 4 yellow. 48©48%C: No. 5 yellow. 47%®47%c; No. 2 white. 50%e; No. 3 white. 50c; No. 4 white, 49c. Oats—No. 2 white. 38©38%c; No. 3 white. 37%©38c: No. 4 white. 36%@ 37%c. Barley—Sales, 66®75c. Timothv $6.4006.65. Clover seed—slo 50013 75. Cash provisions—Lard. $5.52; loose. $4 72; leaf, $4.75; S. bellies. $650. a ST. LOUIS CASH GRAIN By United Press ST. LOUIS. Jan. 23.—Cash grain: ■Wheat—ln fair demand, steady to %c lower: No. 2 red. 01%©92%c: No. 3 red, 91c; No. 2 red garlicky. 90%c: No. 3 red smutty. 90%c: hard wheat. %c lower; No. 2 hard. 90%c. Corn—ln fair demand %c lower: No. 2 yellow. 50©50%c: No. 4 yellow. 48%c: sample yellow. 43® 44c; No. 2 white. 50%©'50%c: No. 3 white. 50c. Oats—ln fair demand, unchanged: No. 3 white. 38c; No. 2 mixed. 38%®39c. TOLEDO CASH GRAIN By United Press TOLEDO. Jan. 23 Grain close: Grain in elevators, transit billing: Wheat—No. 2 red, 93© 94c. Corn—No. 2 yellow. 56® 57c. Oats —No. 8 white. 41%©42%c. R.ve —No. 2. 67%ft 68%c. Track prices. 28%c rate: Wheat—No. 1 red, 89%©,90c; No. 2 red. 88% ©B9c. Corn —No. 2 yellow, 51® 53c; No. 3 yellow, 50© 52c: No. 4 yellow, 48%©;49c; No. 5 yellow. 47®48c. Oats—• No. 2 white. 38%©40c; No. 3 white, 38® 39%c. Seed close: Clover—March. $8.50. Alsike—Cash, $8.50.

Indianapolis Cash Grain

—Jan. 23 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. 87088 c; No. 2 red, 86© 87c; No. 2 hard. 86© 87c. CORN—Steady; No. 3 white, 43© 44c; No. 4 white, 42043 c; No. 3 yellow, 42043 c; No. 4 yellow, 41©42c; No. 3 mixed. 41042 c; No 4 mixed. 40© 41c. OATS—No 2 white. 34%©35%c: No 3 white. 33%®34%c HAY —Steady (Fob country points taking 23'2C or less rates to Cincinnati or Louisville). No. 1 timothy. $7.50®8; No. 2 timothy, S7O 7.50. —lnspections WHEAT—No. 1 red, 1 car; No. 2 red, 1 car; No. 3 red, 1 car; No. 5 red. 1 car; No. 1 hard. 1 car: tottd, 5 cars. CORN—No 2 white, * cars; No. 3 white, 8 cars; No 4 white, 4 cars; No. 5 white, 1 car; No. 2 yellow, 4 cars; No. 3 yellow, 8 cars; No 4 yellow, 14 cars; No. 5 yellow, 2 cars. No. 5 mixed, 1 car; total. 53 cars. OATS —No. 2 white. 5 cars; Sample white, 2 cars; total. 7 cars. INDIANAPOLIS WAGON WHEAT City grain elevation are paying 83 cents for No. 2 soft red wneat. Other grade* on their merits. AUTO FORCES TRUCK INTO WINDOW; 2 HURT Youthfdl Driver, One of Injured, L’eld After Collision. Two men were injured yesterday when a coal truck, struck by a roadster, jumped the curb and crashed into the front of the Chaplin drug store, Fairfield and College avenues. Injured were Fletcher Cotton, 13, of 6208 Broadway, car driver, shoulder injuries, and Lowell Harman, 20, of 6332 Broadway, passenger who was thrown from the car,, receiving back and hand injuries* George Gary, 21, of 621 East Thirteenth street, truck driver, was uninjured. Young Cotton was arrested for failure to have a driver’s license. KOKOMO TO BE SCENE OF STATE ‘Y’ MEETING 400 Delegates Expected to Attend Sixty-Third Annual Session. By United Press KOKOMO, Ind., Jan. 24.—More than 400 delegates and visitors are expected to attend the sixty-third annual convention of the Indiana Y. M. C. A. here Thursday. Consideration of the convention theme, “What Is the Job of the Y. M. C. A. Now?” will be featured in group discussions and by speakers. Dr. G. Bromley Oxnam, president of De Pauw university, will speak on “Timing in Social Reform,” and Dr. Earl Harper, president of Evansville college, will discuss social developments in Russia. Fire Reports Tuesday 8 07 A. M.—3958 Kenwood avenue, automobile small loss. 10:36 A. M .—319 North Illlnoia street, hotel, small loss. 1:09 P. M —3922 North Ulinoia street, residence, no loss. 2 24 P. M —833 North California street, residence, S4OO 3 18 P. M—2109 South Meridian street, residence. *ls 3:56 P M -430 Kentucky avenue, freight house, no loss 4 .36 P M —I4OO Madison avenue, factory, false alarm. 5:15 P M —2028 Olive street, residence, small loss. • 655 P. M. 255 West Morris street, residence, small loss. 7 38 P M. —27 Johnson avenue, residence small loss. 839 P. M —737 North Denny street, residence, S3OO 10 10 P. M —6106 North Delaware street, residence, SIOO. American Type Founders Company in year ended Aug. 31. had a net loss of (5,844,331 after all charges, against net loss of 16,055,471 in previous jeaa. J