Indianapolis Times, Volume 45, Number 228, Indianapolis, Marion County, 1 February 1934 — Page 19
FEB. 1, 1934.
Wall Street
People In Financial Section Do Some Serious Thinking —Wonder Over the Future of Street. BY RALPH HEXDERSHOT
Time* Special Financial Writer A great many people In Wall Street are doing some very serious thinking these days about Wall Street. That a cyclone has hit New Yorks financial center is generally appreciated, and the question arises whether it is to be rebuilt on the old foundations or anew community U to be constructed from the ground up. It is generally felt, of course, that Washington will have something to say *bout the new towers and pillars of finance, but indications are that this will be largely from the standpoint of supervision. The leaders
in the Street probably will be given more or less definite restrictions, but the work of actual reconstruction will be left largely In their hands. Opinions of how this work is to be attempted are rivided rather clearly into two classifications. Those now in command would rebuild as nearly according to old specifications as Washington will permit. This command, however, is being challenged by a younger and more liberal element which would make some rather drastic alterations. This group is inclined to be rather rebellious, believing that its business has been seriously endangered by the “take-it-on-the-chln" attitude of those now at the top of the heap. a a a Exchange Members Rebel Members of the New York Stock Exchange are not all behind President Whitney, but those opposing him have been afraid to say much for fear of being thrown off the Exchange or otherwise punished. But developments are going on quietly behind the scenes
r
Ralph Hendershot
which may result in altering the Exchange’s policy in the future. Conditions are much the same on the Curb market, but that is not why the president of that institution announced recently that he would not be a candidate to succeed himself. Neither Mr. Whitney nor Mr. Sykes, who plans to resign, gets any salary for his services, and it should not be surprising that either would refuse to take the abuse hurled at them, both in and out of their own organiations, in addition to the responsibilities involved under the circumstances. The bankers in Wall Street —both investment and commercial—are concerned chiefly with regaining the confidence of the public. President Roosevelt hit them a heavy blow when he called them “money changers,” and the senate investigation went a long way toward completing the downfall of the high prestige they once held. a a a a m Bankers Lose Power They have many other troubles, too, chief among which is the loss of the power they previously exercised over the monetary policy of the country. With Washington taking command of the nation’s gold as well as direct charge of the country’s national and international monetary and credit policies, they are left with a mountain of machinery over which they have the control largely of foremen. It probably will be a long time before Wall Street is as confident and as self-contained as It was five years ago. Perhaps it will never return to Its old position. But the Street is an important part of the nation’s economic structure, and one wonders what may happen if the younger and rebellious group locks horns with an equally rebellious crowd in Washington.
New York Stocks " 1 " Bv Abbott Hopple A Cos.) —————
—Feb. 1— Prev. Huh Low 10:30 Close Ooils— Amerada ....... .. ... 49 ♦*% Atl Ik R 34% 34% 34% 33% Bransdall 9% 9% Consol Oil 12 7 * 12% Com of Del 20 1 4 20% 20% 19V Houston i new*.. 5% 5% 5% 5 Houston loldl 28 27 Mid Cont Pet 14 13% Ohio OH 15% 14% Pet Corp 13 12V2 PhUlips Pet .... .. ... 18% 18 Pure Oil ....... 14 13 T a 14 13% Royal Dutch 38% ... Sbd Oil 34 331. Shell Un J 0’ 8 Simms H SkeUey OH 9* Soc Vac 19 1£ SO of Cal 42’ 41*4 SOof N J 48% 48’ 4 48% 47Va Sun Oil 59*2 59 Texas Corp .... 28*4 28*a 28% 27*. Tidewater Assn Ilia *<>% Un Oil of Cal .. 19 7 a 19% 19*4 19 J a Am Roll Mills... 24% 19*4 19*4 19% Beth Steel 48V 48% 48% 467a Bvers AM 30*4 28 a Cot Fuel & Iron 6% 6% Cruc Si eel ■ , 28 Inland Steel —. •• ... 47% 47 Ludlum Steel ••• ••• • McKeesport Tin 91 Natl Steel ... 56*. 55*4 Rep Iron A Steel .. ... 21*. 20 a Rep Iron-Stl pfd 52* 4 52% .52*4 51 4 U S Smelt 106*a 106 106 % 101 Vanadium 28% 26 4 Mid Steel 11% 17‘a U S Pipe & Fdy 28*4 28 28% 26 U S Steel 57% 57*. 57% 56’. U S Steel pfd 96 9a% 96% 95*. Youngstn SAT 28 27 ,a Rails — .... Atchison 22 a**? Atl Cat Line 49 % B A O 33 32*4 32*4 30% Can Pac 16'* *6 Ch & Ohio 4o 44,-a Chi AOt W s*. 5 CMA sT P pfd %% 'ii* 11 Ji 10[ Chi N W 12% Chi R Isl ...... .. ... SV. 5 Chi R 1 I'm pfd 8 8 Deu A Hud .... .. ... 2-4 g* Ort North pfd. 30 28*. 30 29% IU Central 81*4 3.u K C *6j mk a ¥ a *..:::: ::: *% fr: Mo Pac ... 5 5 N°Y P Oent 41% 41% 41-a 39% ny y c alt l pw:: ::: 2% 22 N Y New Haven 22 s 23 N Y Ont A Wes ig* p *&*?”:*% * ? 4 l b Penn RR 3(4. 3i * 3ia 36 a Reading : ■ Sou Pac 32*4 31% 32 30 Tv, R R 35*4 34*4 Sou R R pfd ... W*4 4040 39% Union Pac *** West**Maryland.. .1 ... 12% 11% Motors — • .4 eoi* chS 57*4 ‘57% 37% Oer. Motors 1 Graham Mot * Hudson Mack TnwkT/.'. 38*4 38% ‘38% 37% Nash • 31 30 Packard 5% 5% J,* Reo Studebaker f T * Yellow Truck 5 s * Motor Aceeaaories— Bendlx 23:s 22*4 Bohn Alum .. ••• % “ a Borg Warner ... 27% 2.% 2.-a 2.% |udl*Wheei' I! j*-. J Ke< >, Auto\.Ue .. 29-a 28% 29'a 27ja Mu..ms Mfg 9% 8% Murray Body 10 lO% Stew Warner lOu 9s Timken 38 s 3 1*2 Mining— , , Am Smell 45 44*4 44% 44 Anaconda *J% *0 Cal A Hecla ,s‘a 5% Cerro De Pasco . 35% 3a% 35% 34 4 Oranby U }% Gt Nor Ore ••• •• Horn estate Mix: 322 319 322 31 j Howe Sound 3*% 3 1^2 is £E? ::::: >. m •.. Isl Creek Coal 25% Kennecott Cop 22% 21 s Noranda Cop ... 34*s 34*4 34% 34 Fhelps Dodge I*% }2,* Pitta Coal I*% Tobaccos— Am Snuff 51*4 ... Am Sum Tob *8 Am Tobacco A i®% Am Tobacco 8.. .. ... 7? 77*4 Gen Cigar 35% 35 Ligc A Myers B 93 * 4 9. Lombard ~ 18% Reynolds Tob B. 43% 43 43 42-4 Lqalpmrnts— Allis Chalmers 21’a 21 Am Car A Fdy 28 Am Loco ' 33*. Am Mch A Pdy. 18% 11% 18-a 18 Am Steel Fdy... 24% 24% 24*4 24% Bald Loco 14*a 14 14% 13% Burroughs 18 s 18-2 Case J I 83% 81 Cater Tract .... 31 30*. 31 30 Colgat Plm Peet 14% 14 14*. 13% Congoleum 28*. 28 % 28% 2. Elec Stor Bat 51 Foster Wheeler 18*4 18% Gen Am Tnk Cr 38% 38% Gen Elec 23% 23% 23*a 23% Oea R R Sig 45 44 % 44% 40% Ingaol Rand ..... ... ... 73 Int Bus Mach 147 Int Harvester 3S Kelvmator 15% 15*4 15*4 14 a Natl Cash Reg 23% 22% Proc A Gamble 40% 40 Pullman Inc 56% 81m.jr.ons Bed .. 23*. 21*. 22*. 21% Und Elliot 47 West Air B 33% 33% 33% 33% Westlngh Elec 44% 43% Worthing's Pmp 29% 28% Utilities— Am A For Pwr 11 10% Am Power A Lit 9% 8 a AT A T 11?*4 119% 119% 118 Am Wat Wks 24* 23% Brook Un Gas 74% Col Gas A Elec . 15% 15% 15\ 15% Col O A E pfd 69*. Com A Sou 2*. 2*. Consol Gas 44% 43% Elec Pwr A Lit 7 6* E P A L pM 13% Int T A TV..... 1* 16*4 16% 157. Lou O A E A 18 Nat Pwr A Lit 11% 11% North Amer 20% 19% Pac G A E 19% 19 Pub Berv N J 40*. 40% So Cal Edison.. .. ... 19% 19% Btd Gas 13 11% 12 11% Btd Gas pfd 11% United Corp 7 6% Un Gss Imp 18% 17% Ut Pwr A Lit A 4% 4 % eater a Union U SOW
Rubbers— Firestone 22% 22 Goodrich 17% 17% 17% 16% Goodyear 40% 40% 40% 39% U S Rubber .... 20% 20 20 19 Vi U S Rubber pfd 36% 36 36 35 Kel Spring 4% 4 Amusements— Croslev Radio 13% Fox Thea 16% 15% Loews Inc 29% 29% 29% 28% Radio Corp 8% 8% 8% BV* RKO 33 Warner Bros 7% 6% Foods— Armour A’ .... 16% 16% 16% 15% Am Sug 55% 54 V* Borden Prod 27% 26% 26% 26 Cal Packing 27% 26 Canada D G Ale 27% Coca Cola 101 Cont Bak A’.. 13% 13% 13% 12% Corn Prod 81V Crm of Wheat.. .. ... 34% 34% Gen Foods ... 36 35% Gold Dust 20% G W Sugar 32% 33% 32% 31% Loose Wiles 42% Natl Biscuit 47 46% Natl D Prod . 17 16% 17 16% Purity Bak 18% 18% 8 Por Rico Sug 37 36% Std Brands 25V* 25 25% 24% United Frlut ... 65% 65% 65% 64% Ward Bak ‘A’ ... 9% Wrlglev 56 55% 56 56 Retail Stores— Ass Dry Goods 15 V* Best & Cos 30% Gimbel Bros 5% 5% Gimbel pfd 23% Gr Un Tea 8% 8% Hahn Dept Sts.. .. ... 6% 6% Jewel Tea 43% Kresge S S 17% 17% 17% 17 Kroger Groc 29% 28% Macy R H 61% 61 Vi 61% 60% May Dept St 38V* 38% Mont Ward 28V* 28% 28% 27% Penny J C 61 60 Va Safeway St ... 53% 52 Sears Roebuck.. 48% 48% 48% 46% Woolworth 50% 50% Aviation— Aviation Corp 10% 10% Douglass Air ... 28% 28 28 27% Curtiss Wright 5% 5Vs Curtiss Wright A ... 10% 10% Nor Am Av . .. 8% 8% 8% 8V United Aircraft. 37% 37V* 37% 36% Chemicals— Air Reduction 103% 102 Allied Chem 155 152% Am Com Alcohol 62 60 % Col Carbon 68 67 Com Solvents . 36% 36% 36% 35% Dupont 101% 101% 101% 99% Freeport Tex 46% Liquid Carb 31% 31% 31% 31 Math Alkali 39 38% 38% 38 Tex Gulf Sulph. 40% 40% 40% 39% Union Carbide 49% 48% U S Indus Alcoh! 62% 62 62% ’ 60% Natl Dist (new) 31% 28% Drugs— C'oty Inc 7% 7 7Vi 6% Lanibert 29% 29 V* Lehn & Fink 20 19 % Zonite Prod 7Vi Financial— Adams Exp 11% 11% 11% 10% Allegheny Corp 5 4% Chesa Corp 44% 43% Transamerica .... ... 7% 7% Tr Conti Corp .. 6% 6% 6% 6 Building— Am Radiator ... 17% 17% 17% 16% Gen Asphalt ... 20 19% 20 19% Int Cement ... ... 35% Johns Manville 65 64% 65 65 Libbv Owens Gls 43% 43 43 41 Vi Otis Elev 18V* 18 Ulen Const 3% 3% Miscellaneous— Am Bank Note ... 18% Am Can 101% 101% 101 s * 99 Anchop Cap 24 Brklyn Man Tr 34 s * 33% Conti Can 79% 77% East Kodak 90% 89% Owens Bottle 92% Gillette 11% 11% 11% 11% Glidaen 19% 18% Gotham Silk 11 10% Indus Ravon ... 93 92% 93 91% Inter Rap Tr ... ... 11 Real Silk Hose 13
Foreign Exchange
ißv Abbott. Hoppln Sc Cos.) —Jan. 31— else. Sterling. England $4 97% Franc. France 0625 Lira. Italy 0836% Belgias. Belgium 2217 Mark. Germany 3778 Guilder. Holland 6386 Peseta. Spain 1286 Krone. Norway 2505 Krone. Denmark 2225
Investment Trust Shares
(Bv Abbott, Hoppln & Cos.) —Jn. 31Bid. Ask. American Bank Stocks Corp.. 1.11 1.15 American and General Sec A 4 50 6.00 American Inv Tr Sh 2.00 3.00 Basic Industry Shares 3 66 3.72 British Tvpe Inv Tr Sh 75 .82 Collateral Trustee Shares A. 5.08 5.18 Corporate Trust Shares Yold, 224 2.27 Corporate Trust Shares (new) 2.53 2.62 Cumulative Trust Shares 4.35 4 43 Diversified Trust Shares A.... 6.25 Diversified Trust Shares B . 8 50 8.75 Diversified Trust Shares C.... 3.36 3.40 Dlverslfi.-d Trust Shares D 5.25 5.37 First In.mrance Stock Corp... 1.36 1.42 First Ccinmon Stock Corp 83 .98 Fixed Trust Oil Shares A 9.25 950 Fixed Trust Oil Shares B ... 800 8.25 Incorporators Investment .... 19.25 20.50 Land Bank Bond Shares 94 1.04 Low Priced Shares 6.90 6.80 Mass Inv Trust Shares 19.50 21.18 Nation Wide Securities 358 362 North Amer Trust Shares (53) 1.95 North Amer Trust Shares 55) 253 2.56 North Amer Trust Shares isß> 275 3.00 Selected American Shares .... 3.20 .... Selected Cumulative Shares... 7.75 .... Selected Income Shares 3.75 4.50 Std American Trust Shares A 318 322 Trust Shares of America .... 3.07 3.15 Trustee Std Oil A 5 65 5.75 Trustee Std Oil B 5.50 5 62 U S Electric Lt A- Pwr A ... 12.75 13 00 Universal Trust Shares 329 332
Daily Price Index
Bv United Pre** NEW YORK Jan SI —Dun & Bradstreet’s daily weighted index tot thirty basic commodities compiled ter the United Press: (1950-1932 Average. IOOi Today 105.92 Yesterday 100 22 Week Ago 104 95 Month Ago 101.50 Year Ago 69.48 1994 High iJan. 30) 109.33 1034 %>w i Jan. 3) 101.05 CeurafcUk Ittt by Dun * BrandMrwk lac.
SETTING OF NEW DOLLAR VALUE BOOSTSJSSUES Tickers Run Six Minutes Late as Volume Increases in Heavy Trade.
Average Stock Prices
Average of thirty industrial* lor Wednes-day-High 109.17. low 108 81, close 107.22, off 1.77. Average ol twenty rails—so. 79. 48 82, 49.77, off 78. Average ol twenty Utilities— 27,7l. 26 90. 27.05, off .05 Average ol lorty bonds—B9.7s, up .13 Average of ten firs' rails —94.46, up. 08. Average ol ten second rails —7B.ol, off .08. Average ol ten utilities —94 49. up 29. Average of ten industrial*—9l.46, up .25. BY ELMER C. WALZER, United Pres* Financial Editor NEW YORK, Feb. I.—The stock market took the new dollar parity in its stride today and initial prices were fractions to more than 2 points higher. Fairly large blocks appeared on the tape, but trading was orderly in contrast with the wild trading on coast markets late yesterday. Mining issues were outstanding following a sharp rise in those Issues on the London market before the New York opening. United States Smelting opened 1,000 shares at 106, up 3 points, and International Nickel, 3,000 shares at 23%, up Rail Issues Strong Alaska Juneau, 4,000 shares at 23, up y*, \ Dome Mines, 2,400 at 34%, up 1%; Cerro De Pasco, 1,500 at 35%, up %, and Anaconda, 2,000 at 16%, up %. Railroad shares were strong. New York Central opened 4,000 shares at 41%, up 2; Baltimore & Ohio, 4,000 at 33, up 2%; Pennsylvania, 1,600 at 37%, up 1; Atchison, 1,000 at 72, up 1%, and Southern Pacific 2,500 at 32, up 2. J. I. Case spurted 2% points to 83% on 1,000 shares to feature the farm equipments. American Can rose to 101%, up 2%, on 1,500 shares; Western Union 63, up 2%; American Telephone, 119%, up 1%; United States Steel, 57%, up 1% on 3.000 shares, and Chrysler 57%, up 1% on 1,500 shares. General Motors opened at 40% up a point on a block of 8,000 shares. Utilities were strong with Consolidated Gas at 44%, ex-dividend, up 2% points. Demand continued for the aviation shares where Douglas rose to 28%, up %; Curtiss Wright 8,000 shares at 5%, up %, and Bendix 2,100 at 23%, up 1%. Wet Group Active Volume increased after the opening and it was necessary to abbreviate quotations to the limit. Even then tickers were six minutes late. Price fluctuations in the early trading were around the opening. American Telephone continued to gain, however, while Anaconda eased from its high a sdid New York Central and Sears Roebuck. United States Smelting firmed from its initial price. National Distillers, the most active issue yesterday, opened on a block of 10 000 shares at 31%, up 2%. It took the specialist in this issue fifteen minutes to arrive at a price for the issue because of the large number of orders bunched in the 10,000 block. '
Bank Clearings
INDIANAPOLIS STATEMENT —Feb. 1— Clearings $1,537,000.00 Debits 3,938,000.00
Treasury Statement
By United Press WASHINGTON, Feb. I.—Government expenses and receipts of the current fiscal year to Jan. 30. compared with the corresponding period of the previous fiscal year; Expenses $2.999, Receipts. 1.676,732,187.28 1,138.505.910.67 Deficit.. 1,914.393,658.73 1,860.578,475.09 Cash Bal 1,454,638,380.45 New York Curb (By Abbott. Hoppin & Cos.) —Jan. 31— Close. Close. Allied Mills 9% Gulf Oil of Pa. 73 Alum Cos of Am 78 Hiram Walker.. 52 Am Cyanide B. 19 Hud Bav Min.. 9% Am & F Pwr W 7 Humble Oil ... 39% Am G & El 27% Imperial Oil Ltd 14% Am Superpwr. . 3% Int Petrol 23 Ass Gas & El.. 1% Lake Shore Min 42% Atlas Corp 14% Lib McN Lib... 5 Brazil Tr & Lt 13% Lone Star Gas. 6% British Cclanese 3% Massey Harris.. 6% Can Indus A1 Al 7 Mt Producers... 4% Can Marc ... 2% Natl Bellas Hess 2% Carrier Corp... 8% Newmont Min.. 53% Cities Serv 3% Nia Hud Pwr... 7 Commonw Ed.. 55% Novadel Agene. 64% Cord Corp 8 Pan Am Airways 50% Creole Petrol.. 12% Park Davis .... 24% Crown Cork Inti 6% Penn Road 4 Deere & Cos 32% St Regis Paper. 4% Distillers Lim. . 21 Sal Creek Prodts 6% Distillers Corn 23% Sherwin Wms.. 52% El Bd & Share 18% Std of Ind 31% Fisk Rubber .. 14% Std of Kv 17% Ford of Can A. 22% Tech Hughes Gd 5% Ford of Europe. 6 ;Un Gas 4% 3en Aviation.. 9 'Un Pw & Lt A 3% Gt Atl & Pac. 148 Wright Hargr Mi 6% Glen Alden Coal 13%'
U. S. Government Bonds
By United Press NEW YORK. Jan. 31.—Closing Liberties. (Decimals represent thirty-seconds.) LIBERTY 3%S (32-47) 101.10 First 4%s (32-47) 102.4 Fourth 4%s 133-38) 102.19 TREASURY 4%5-3%S (45) 100.2 4%s (47-52) 107. 3%s 43-47( 100.14 3%s (41-43) March 100.14 3%s (40-43 V June 100.18 3%S (411 99 31 3s (51-55) 96.22 3%S (46-49) 98.4
Federal Farm Loan Bonds
By Blythe & Cos., Inc. Bid Ask 4s Nov. 1 1957-37 92% 93*4 4s Mav 1 1958-38 92% 93*4 4%s July 1 1956-36 94 95% 4%s Jan. 1 1957-37 94 95% 4%s Mav 1 1957-37 94 95% 4%s Nov. 1 1958-38 94 95% 4%s Mav 1 1942-32 97 98% 4%s Jan. 1 1943-33 95 96% 4%s Jan. 1 1955-33 95 96% 4%s Julv 1 1933-33 95 96% 4%s Jan. 1 1955-35 95 96% 4%s July 1 1955-35 95 96% 4%S Jan. 1 1956-33 95 96% 4*4s Julv 1 1953-33 97*4 98% 4%s Jan. 1 1954-34 97% 98% 4*s Julv 1 1934-34 97*4 98% 5s May 1 1941-31 99% 100% 5s Nov. 1 1941-31 99*2 100*4 Home Loan 4s. July 1, 1951... 96% 96%
In the Cotton Markets
—Jan. 31— CHICAGO High. Low Close. March 11 40 11 34 11.40 May 11.60 11.48 11.60 July 11.76 11.67 11.76 October 11.95 11.82 11.94 December 1204 11.93 12.04 NEW YORK March . 11.38 11 26 11.37 May 11.55 11.42 11.53 July 11.70 11 57 li 69 October 11.89 11.75 11 86 December 11.97 NEW ORLEANS March 11.37 11.22 1137 May , 11.54 11.38 11.53 July 11.69 11.53 11.69 October 1187 11.71 11.86 December 11.J6 ILB7' Uit
THE INDIANAPOLIS TIMES
Bright Spots
Bv Abbott. Hoonin & Cos. Borden Company has declared the regular quarterly dividend to 40 i cents a share on the common stock, payable March 1 to holders of record Feb. 15. General Cigar Company, Inc., in year ended Dec. 31, earned 78 cents a common share against 53.61 in 1932. Savage Arms Company preliminary’ statement for 1933 shows a net loss of $236,325 after payment of all charges against net loss of $349,373 in 1932. Southern Pipe Line Company has declared a dividend of 10 cents, the Same as paid on Sept. 1, 1933. The new dividend will be payable March 1 to holders of record Feb. 15. Deer & Company declares the extra dividend of 5 cents on the 7 per cent cumulative S2O par preferred stock, payable March 1 to holders of record Feb. 15. Air Reduction Company in December quarter earned $1.25 a share against $1.23 in the previous quarter and 74 cents in the December (1932) quarter; for year ended Dec. 31 earnings were 53.79 a share against $2.72 in 1932. Net income of Coca-Cola International Corporation for quarter ended Dec. 31 was $954,022 after expenses against $1,070,377 in the final 1932 quarter. Dome Mines, Ltd., preliminary statement for 1933 shows a profit of $3,762,657 after payment of taxes and expenses but before depreciation, depletion and other surplus adjustments against $2,196,267 in 1932. National Distillers December quarter had a net profit of $4,173,215 against $1,477,925 in the preceding quarter; year’s net profit totaled $6,127,488 against $522,179 in 1932. International Business Machine Corporation has declared the regular quarterly dividend of $1.50 per share on the capital stock, payable April 10 to holders of record March 22. Iron Age states steel operation in the United States during the past week increased 3 per cent to 35 per cent of capacity, the highest rate to date this year.
On Commission Row
—Feb. 1— Fruits Cranberries—Cape Cod early blacks. 25lb. box. s2@2 25. Pears Washington A’Ajou. 90-1655. $2.50: Avacados. Fla.. 16-16s. crate $1.50. Strawberries—Florida, 12V2C per pint. Bananas—Per pound. sc. Apples Wealthy. Wolf River. Grimes Golden. Jonathan. Florida, $1.35®2 a bu.: fancy Stavmans. $2.25 a box. Grapefruit—s3 50® 3.75. Oranges—California Navels. $4®4.50 a box. Vegetables Cabbage Eastern Danish. 50-lb. bag $1.50: new Texas, 50-lb. crate. S3. Onions—lndiana white. 50-lb. bag. $1.40: Indiana vellow. 50-lb. bag. $1.50. Beans—Round stringless, hamper. $2.50. Beets—Bulk per bu.. $1.15; Texas, new. $1.75 a crate. Peas—2 B-lb. hampers. $4. Carrots—California. $3.25 a crate: per doz.. 60c: Michigan, doz.. 60c: bulk per bushel. $1.15. Cauliflower—California (11-12 c). crate. $1.60. Celerv Michigan Mammoth, dozen. 75c: medium bunch. 40c: hearts. $1.25: 18bunch per crate. $1.25: California. $2.50@ 2.75 a crate. Cucumbers—Hothouse. $1.75 per dozen. Lettuce—lceberg, best (4-ss) .crate. $3.25 @3.75; hothouse. 15-lb. basket. $1.50. Radishes—Hothouse button. 65c 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; U. R. Ohios. 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.. $1.60® 1.65.
Produce Markets
Delivered In Indianapolis prices—Hens, lOlic; Leghorn hens, 7‘/2C; heavy springers over 5 lbs., 11c; under 5 lbs., 9c; Leghorn springers, 7c; stags, 8c; Leghorn stags. 6c; cocks, 5 lbs. and up sc; under 5 lbs., 4c: ducks. 4% lbs. and over, full feathered and fat, 6c; under 4-/2 lbs., 4c; geese, full feathered and fat, 6c. Turkeys—No. 1 young hens, 8 lbs. and over, lie; No. 1 young toms, 12 to 20 lbs., 13c; No. 1 young toms over 20 lbs., 13c; old toms. 10c; No. 2 thin crooked breasted, 6c; young guineas, lVa to 3 lbs., 35c; old guineas. 25c; No. 1 strictly fresh country run eggs loss off 16c, each full eggs case must weigh 55 lbs. gross; a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1 24© 25c; No 2 21(f?22c. Butterfat— 17c. Quoted by the Wadley Company. CHICAGO FRUIT MARKET By United Press CHICAGO, Jan. 31.—Apples—Michigan Jonathans, bushel, $1.25©1.50; Baldwins, bushel $1.35ft1.40. Carrots —Illinois, 45@ 50c bushel Spinaoh—Texas, 75@>90c bushel. Beans—Southern, green, $1,656 2.25; wax, $202.25. Mushrooms—lllinois, 15@27%c-lb. cartoon. Cucumbers—Cuba, bushel, [email protected]; hothouse. 2 dozen, $2.75 @3. Tomatoes—Florida. [email protected]; hothouse, 8 lbs.. [email protected]. Leaf lettuce—lllinois hothouse. 20c box. Celery—Michigan 50c© sl. Cabbage—Wisconsin, $1.5002 100 lbs. Parsnips—lllinois, ,80©90c bushel. Sweet potatoes—lllinois, [email protected] bushel; Indiana, $1.6561.75. Rhubarb—Michigan hothouse, 25©45c flve-lb. cartons. Onion market (50-lb. sacksl: Western Valencias asking $1.25©1.50; Central Western yellows. $1.1501.25. HEALTH INSTRUCTION BROUGHT TO SCHOOLS Tuberculosis Association Engaged in Campaign Outside City. Correlation of modern health teaching with the curricula of Marion county grade and high schools, outside Indianapolis, is being stressed by the Marion County Tuberculosis Association in its campaign against tuberculosis and kindred diseases. Educational material has been distributed by the health education department under Miss Flora Dutcher Throughout February meetings will be held with teachers. LIQUOR SUPPLY TAKEN FROM CITY DRUG STORE Cigarets and Narcotics Also Removed, Police Are Told. Thieves who broke into the Joseph Roesner Jr. drug store, 2612 West Sixteenth street, last night carted away 132 bottles of assorted liquors, valued at sl4l, thirty-five cartons of cigarets worth S4O, narcotics valued at $35, and other articles. The loot, police were told, included ninety-six pints of bonded and blended whiskies, twelve pints of alcohol, twenty pints of gin, two pints of brandy, two pints of rum and six billfolds. MONEY MARKET HIGHER British Pound Is Only Currency to Drop on Foreign Exchange. By United Press NEW YORK. Feb. I.—Foreign exchange rates except the pound sterling advanced today at the opening. The franc was at 6.41 *i cents, up points from the previous close. At the old parity the dollar would be valued at 61.02 ceats. At the | new parity it would be%t 31.03. 1
SWINE MARKET SHOWS STEADY TRADING RANGE Cattle Strong and Active; Lambs Move 25 to 50 Cents Higher. Porker prices continued unchanged for the second consecutive day at the Union Stock Yards this morning. Despite a large decrease in receipts, all prices fluctuated in practically the same range as in the previous session, showing less activity. Demand was slightly weaker while several traders seemed suspicions of future developments. The bulk, 160 to 250 pounds, sold at $3.60 to $3.80. Few choice kinds were salable at $3.85. Heaviest classes, weighing 250 pounds and upward, were selling at $3.35 to $3.55. Light slaughter grades, scaling 130 to 160 pounds, brought $3.10 to $3.50, while 100 to 130-pounders were salable at $2.10 to $2.85. Receipts were estimated at 4,000. Holdovers, 218. Strong undertone prevailed in the cattle market, with the majority of all classes active. Initial steer sales were reported at $4.50 to $5.35, while some held above $5.50. Receipts numbered 800. Vealers were strong, selling around $7.50. Receipts were 500. Advance of around 25 to 50 cents above the previous close was evident in lamb trading. Good and choice native lambs were salable at $9.35. Few small lots held available at $9 to $9.25. Fed westerns were strong to slightly higher. Receipts were 1,500. Early bids on hogs at Chicago held steady to slightly higher than yesterday’s average. Few choice kinds weighing 180 to 210 pounds was bid in at $3.85 to $3.90. Receipts were estimated at 28,000, including 17,000 directs; holdovers, 5,000. Cattle receipts numbered 6,000; calves, 2,000; market steady to strong. Sheep receipts were 11,000; market stationary. HOGS Jan. Bulk. Top. Receipt*. 26. $3.55® 3.75 $3.75 8,000 27. 3.55® 5.75 3.75 4,000 29. 3.70® 3.90 3.95 6.000 30. 3.60® 3.80 3.85 9.000 31. 3.60® 3.80 3.85 8,000 Feb. 1. 3.60® 3.80 3.85 4,000 Market, steady. U4O-160) Good and choice....s 3.30® 3.50 —Light Weights—-(l6o-180) Good and choice.... 3.80 (180-200) Good and choice..,. 3.80 —Medium Weights—-(2oo-220) Good and choice..., 3.70® 3.75 (220-250) Good and choice.... 3.60® 3.70 —Heavy Weights—-(2so-290) Good and choice.... 3.50® 3.55 (290-3501 Good and choice.... 3.40® 3.50 —Packing Sows — (350 down) Good 2.85® 3.25 (350 up) Good 2.75® 3.00 tAll weights) Medium 2.50@ 2.75 —Slaughter Pigs—-(loo-130) Good and choice.... 2.15® 2.90 CATTLE Receipts, 800; market, steady. (1.050-1,100) _ „ Good and choice $ 5.75® 7.00 Common and medium 4.00® 5.75 (1,100-1,5001-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® 3.25 Common and medium 2.25® 2.75 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, 509; market, steady. Good and choice $ 7.00® 7.50 Medium 4.50® 7.00 Cull and common 2.50® 4.50 —Calves — (250-500) Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —eeder 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, 1,500; market, higher. (90 lbs. down) Good & choice.* 9.00® 9.50 (90-110 lbs.) Good and choice. 8.75® 9.25 (90 lbs. down) Com. and med. 6.00® 8.50 —Ewes— Good and choice 2.75® 4.00 Common and medium 1.50® 2.75 Other Livestock BY UNITED PRESS FT WAYNE. Feb. I.—Hogs—sc higher: 150-200 lbs.. $3 80; 200-250 lbs.. $3.75; 250300 lbs.. $3.60; 300-350 lbs.. $3.45: 150160 lbs.. $3.40; 14015 lbs.. $3.15: 130-140 lbs., $2.9j5; 100-130 lbs.. $2.45: roughs. $2.75; stags, $1.75. Calves, $7; western lambs, $9: native lambs. $8.50. EAST ST. LOUIS, 111.. Feb. I.—Hoes Receipts, including 1.000 direct; market, opened 15 to 25c higher; top. $3.75; most 160-210 lbs., $3.65@ 3 75; heavier weights, not established; 140-150 lbs., [email protected]; few 100 lbs., pigs, $2; sows, $2.50®2.75; bulk unsold. Cattle —Receipts. 1,800; calves. 900; market, opened moderately active and fenerally steady with Wednesday; vealers, 5c higher; top. $7.25; cows, $2.50©3.25; low cutters, [email protected]; top sausage bulls, $2.75; slaughter steers. 550-1,100 lbs., good and choice, [email protected]; common and medium. $3.25®5.75; 1,100-1,500 lbs., choice. $5 <g>6.6o; good. [email protected]; medium, $3.50®5.25. Sheep—Receipts, 1.000; market, opened strong to 15c higher; better wooled lambs to shippers and small killers. $9®9.40; throwouts, ss®6; fat ewes, $33 4; lambs, 90 lbs., down, good and choice. $8.50® 9.40; common and medium. $5®8.75; 90-98 lbs., good and choice, [email protected]; yearling wethers. 90-110 lbs., good and choice, s6® 8; ewes, 90-150 lbs., good and choice, $2.50®4; all weights common and medium, $1.50@3. By Times Special LOUISVILLE. Feb. I.—Cattle—Receipts. 150; market very slow, quotable around steady at yesterday’s loss; bulk common to medium steers and heifers, [email protected]; cutter grades down to $3 or less- well finished fed kinds, mostly. $4.50®5.50; bulk beef cows, $2.25®2.75; practical top. $3; low cutters and cutters mostly sl@2; sausage bulls, $3 down; common to medium native Stockers and feeders, $2.50® 3.50: most well-bred Hereford Stockers around $4.50. Calves—Receipts, 200; steady; bulk better vealers $5.50® 6.50; strictly choice eligible, higher; medium and lower grades $5 down. Hogs Receipts—l.4oo; market not fully established: opening sales 10c lower; 170-210 lbs. $3.90; 215-24(1 lbs.. $3.70: 245-270 lbs.. S3 50; 275 lbs., up. $3.40; 140-165 lbs.. $3.40; 110-135 lbs.. $3.15; sows, $2.50: stags. $1.20; some hogs held for steady prices. Sheep—Receipts, 25; market quotable fullv steady: medium to good lambs, $6.50® 7.50: choice grades quotable to $8; throwouts mostly 34.50; desirable fat ewes, 52(g2.50.
Statistics .... Investors in this section have access to the statistical facilities of the firm in New York. These facilities are of real help in the advantageous placing of funds, or the development of an investment program. © Fenner & Beane 612-514 Circle Tower Bldg. Telephone Riley 3305. woreEU NFV YOU rroex EXCKAIKB
Chicago Stocks —By Abbott. Boppln & Cos. —————
TOTAL SALES 03.000 SHARES —Jan. 31— High. Low Close. Acme Steel Cos 40% 39% 40% Adams Rovaltv ... 2% Advance Aluminum .... 4% 4 4 Allied Products 18 17 18 Altorfer Bros 13 10% 13 Am Pub Serv pfd _ ... 8% Asbestos Mfg 37* 3% 3% Associated Tel ds Tel A 5% 5 5% Bastlan-Blessing 8 7% 7% Bendix Aviation 23% 22% 22% Binks Mfg 2> 2% 2% Borg-Warner 27% 26% 26% Borg-Warner pfd 97 Brown Fence & Wire A .. ... i Brown F & Wire B .... 2% 2% 2% Butler Bros ... 8% 8 8% Campbell WA- C Fdrv 12% 12% 12% Canal Construction 2% Castle AM ••.••• ••• }5 Cent 111 Pub Serv pfd.. 19 18 18 Cent 111 Securities com 1 Cent 111 Securities pfd.. .. ... < Cent Ind Power pfd -. 7 % 6% 6% Cent Pub Serv Class A .. ... % Cent & So We5t........ 1% 1% 1% Cent & So West pfd... 8% 7% 7% Cent & So W P L pfd.. .. ... 13% Chi A: North Western.. 11% 11 I{S Chicago Coro com 3% 3% 3% Chicago Corp pfd 29 23.a 28 s Chicago Yellow Cab... .. ... 11% Cities Service . .. ... 3% 3 _•>% Commonwealth Edison. 5674 55V* 55 . Crane Cos I°% 19 Curtis Mfg Cos S,, Dexter Cos ® • E?e d ctric Pa £ousehoTd '!! .12% ii% 12 Fitzsimmons & Connell. .. ... ** 2 Gen Household Ut 9 8% 9 Godchaux “B” 8 6 a 8 Goldbiatt Bros ........ 80% 30 30% Great Lakes Aircraft . 1% 1% 1% Great Lakes Dredge ... 30% Grigsby-Grunow % % % Hall Printing 6% 6% Hart-Carter, pfd 8% 8 8 Hormel & Cos •• 19 * Houdaille-Hershey ’B . 6% 6,6% Illinois Brick .......... .. ... ®% 111 Northern Util '. 48 45 48 Ind Pneu Tool 23Va 23 23 Jefferson Elec £8 £5 s £6 Katz Drug 27 26 27 en-Rad Tube & Lamp.. 5% 5% 5% Kevstone Steel £7 16 17 Libby-McNeil 5% 5 5 Lion Oil Refining .Cos.. 5% 5 5% Lvnch Corp 3* 33 34 Marshall Fieid 17 16,a 16% Middle West Utilities... .. ... % National Standard .... 26% 15 25 Noblitt Sparks Ind Inc. 14% 14% 14% North Amer Lt & Pwr.. .. ... 3Va Northwest Bancorp 6 5% b Northwest Engineering., 6% 6Vs 6% Ontario Mfg Oshkosh Overall ....... , “ Oshkosh Overall pfd }*},. Penn Gas & Elec £O% Perfect Circle •• ••• 32% Prlma Cos 11% 11% I£% Public Service • • ••• }° Public Service N P 18% 18 18 Public Service 6% pfd.. .. ... 53% Quaker Oats 119 118% 119 Quaker Oats pfd 117% 117 11 Z, / Raytheon VT C 3% 3% 3% Reliance Mfg Cos 16% 16 16 Signode Steel Strapping £7a Signode Stl Strapping p 10 So West G & El pfd 47% Storkline Furniture .... * Stutz Motor C Cos of A 9% 97a 9%
Retail Coal Prices
The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES Anthracite $14.25 Coke, nut size > 75 Coke, egg size Indiana, forked lump S.oO Indiana, egg *OO Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 825 Pocahontas egg 8.25 Pocahontas forked 1ump....... 0 25 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6.75 West Virginia egg 6-50 Island Creek 7.00 Extra charge of 60c a ton for wheeling coal, and $1 a ton for coal carried to bln.
THE STATE LIFE INSURANCE . COMPANY INDIANAPOLIS Thirty-Ninth Annual Statement December 31, 1933 sms RESOURCES First Mortgage Loans $24,260,567.80 Policy Loans Secured by Reserve 17,193,702.77 Real Estate including site purchased for Home Office Building 6,432,746.65 Government and Municipal Bonds 399,485.31 Cash in Banks and Office 456,927.89 Net Uncollected and Deferred Premiums (Secured by Reserve) 1,177,582.45, Interest Due and Accrued (Well Secured) 1,806,366.21 Other Admitted Assets 16,085.51 Total $51,743,464.59 LIABILITIES Reserve on Life and Endowment Policies $43,281,564.21 Reserve for Disability and Double Indemnity Benefits 2,626,395.76 Reserve for Installment Payments, Policy Proceeds left with the Company, and Annuities 1,198,282.00 Policy Claims Reported and in Process of Settlement r.-.-r 352,278.47 Dividends Apportioned ' 800,483.75 Reserve for Federal, State and Other Taxes Payable in 1934 155,227.78 Current Commissions and Accounts Accrued . 101,316.66 Premiums and Interest Paid in Advance 415,307.58 Other Liabilities 1,068,775.60 SURPLUS . ... .r. 4>rc. . . .-.KOT-ir 1,743,832.78 Total T... .$51,743,464.59 The Company operations for the year 1933, after making • ample provision for all policy reserves and other known liabilities, resulted in AN INCREASE IN SURPLUS OF MORE THAN $430,000.00. In 1934, dividends to policyholders will be slightly increased over 1933. Since organization the Company paid to Beneficiaries of deceased Policyholders $37,277,361.70 To Living Policyholders 56,454,146.31 These payments are in addition to the sum of $51,743,464.59 saved for policyholders as set forth in the annual statement above. THE STATE LIFE IS A GOOD COMPANY IN WHICH TO CARRY YOUR LIFE INSURANCE
Swift &Cos 17% ITS 17% Swift Ir.terr.actonal .... 30 29’-% 29% Thompson. JR io 9 10 Tr Corp o Amer % U S Gypsum com 48 Utah Radio 2% 2% 2% Utility * Ind 1% Utility * Ind pfd 1% 33% Vortex Cup Cos 9% 9% 9% Walgreen Cos. com 22% 21 % 22 Wayne Pump, pfd 4 Yates Machine l% Zenith Radio 4 3% 37a
Indianapolis Cash Grain
•~*Jan. 31— 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-Weak: No 1 red. 88389 c; No. hard. 87® 88c. CORN—Easy: No. 3 white. 43®44c; No. 4 white. 42© 43c; No. 3 vellow. 42 ft 43c. No 4 yellow. 41 ft 42c: No. 3 mixed. 41342 c. No. 4 mixed. 40©41c. Oats—Easy; No. 2 white. 34®35c: No. 3 white. 33© 34c. HAY—Steady; (F. o. b. country points taking 23%c or less rates to Cincinnati or Louisville), No 1 timothy. 52.5058; No. 2 imothy. [email protected]. —lnspecions WHEAT—No. 1 red. 2 cars: No 2 red, 3 cars; No. 1 hard. 1 car; No. 1 mixed. 3 cars; No. 2 mixed, 2 cars; total, 11 cars. CORN—No. 3 white. 2 cars. No. 2 vellow. 5 cars; No. 3 vellow. 2 cars; No. 4 yellow. 5 cars: total. 14 cars OATS—No. 2 white. 2 cars; No. 3 white. 1 car; total. 3 cars. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 84 cents for No. 2 soft red wheat. Other grader on their merits. Chicago Futures Range —Feb. I. Prev. WHEAT— High. Low. 10:00. close May 92% .91% .91% .91% Julv 91% .90% .90% .90% Sept 92% .01% .91% .91% CORN— Mav 53 .52% .52% .52% Julv 54% .54% .54% .54% Sept 56% .56 .56 .55% OATS— May 38% .37% .37% .377* July 37% .37% .37% .37 Sept 36% .36% .36% .36% RYE— May 63% 62 .62% .62'/* July 63% .62% .62% .62% Sept. 64 BARLEY— Mav 52% .52 July 52 NEW YORK CASH GRAIN By United Press NEW YORK, Jan. 31.—Cash grain: Wheat—No. 2 red. $1.08%: No. 2 hard winter. $1.08%. Corn—No 2 mixed. 60%c. Oats—No. 3 white, 48 %c. NEW YORK COFFEE FUTURES —J an. 31— SANTOS High. Low. Close. March ■ ■ ■ 9.77 Mav 9 96 9 87 9.96 July 10.05 9.98 10.05 September 10.39 10.28 10.39 December 10.51 10.39 10 59 RIO March ... 7.28 May 7.43 7.33 7.43 July 7.58 7.48 7.57 September 6.67 7.57 7.67 December 7.82 7.70 7.82 NEW YORK RAW SUGAR FUTURES —Jan. 31— High. Low. Close. January 1.87 1 66 1.67 March 1.46 1.43 1.46 Mav 1.51 1.47 1.51 July 1 56 1.52 1.56 September 1.60 1.56 1.60 December 1.65 1.62 1.65 Inland Steel in final 1933 quarter earned 44 cents a share against 52 cents in the previous quarter.
PAGE 19
GRAIN FUTURES FOLLOW STOCK SHARESHIGHER Traders Predict Liquidation and Further Easing of Prices. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. Feb. I—Grains followed the strength in cotton and stocks at the opening of tfie Board of Trade today and were higher in active trading. Wheat deliveries were l a to % cent higher, com was up to \ cent, and oats were ** cent higher. Commodities prices shot up with the announcement late yesterday of the new dollar. A few leading wheat traders expected further long liquidation and further easing of prices. Others believed the fact that the market rallied and closed above 91 s * cents was indicative of underlying strength. There has been considerable change of ownership of long wheat and the market’s technical position, weakened by four day’s advance must be regarded as improved. Complaints of dust storms came from a wider a pea of the southwest. Chicago Primary Receipts —Jan. 31— —Bushels— Todav. Last week. Wheat 386,000 414,000 Corn 376.000 486.000 Oats 138.000 116.000 CHICAGO CASH GRAIN By United Press CHICAGO, Jan. 31.—Cash grain: Wheat —No. 2 hard, 92c. Corn—No. 3 mixed. 48@49c; No. 4 mixed. 47%®48c, No. 2 yellow, 50©50%c; No. 3 yellow, 48%® 49 %c; No. 4 yellow. 48®48%c; No. 2 white. 50%c; No. 3 white, 49©49%c; (old) No. 2 yellow, 51%c; No. 3 vellow, 50%c. Oats— No. 2 white, 38c: No. 3 white. 36%®37%c. Rve—No sales. Bariev—6B®7Bc: quotable 50® 82c. Timothy—s6.7s® 7. Clover Seed —sllol4. Cash provisions; Lard—ss.72; loose, $5; leaf. $5; S bellies, $7 TOLEDO CASH GRAIN By United Press TOLEDO. Jan, 31.—Toledo grain close: Grain in elevators, transit bilTing: Wheat —No 2 red, 94%©95%c; No. 1 red. l%c premium. Corn—No. 2 yellow, 55® 56c. Oats —No. 2 white 41%®42%c. Rye—No. 2. 68®69c. Track prices. 28%c rate: Wheat—No. 1 red 91®.91%c: No. 2 red. 90®90Vic. Corn—No. 2 yellow. 50%©52c; No 3 yellow. 49®51c; No 4 vellow. 47%© 48%c; No. Syellow. 49®47c. Oats—No 2 white. 38%®40c: No. 3 white. 38©39%c. Toledo seed close: Clover—March. $8.25. Alsike—Cash. $8.50. ST. LOUIS CASH GRAIN By United Press ST. LOUIS, Jan. 31 —Cash grain—Wheat in fair demand, 1 to l%c lower on red and 1 to I%c lower on hard: No. 2 red, 93® 93%c; No. 3 red. 92c; No. 2 hard. 92%® 92%c nominal. Corn—ln fair demand, % to lc lower Oats—ln fair demand, tone unchanged; No 2 white. 39%c.