Indianapolis Times, Volume 45, Number 249, Indianapolis, Marion County, 26 February 1934 — Page 11

ITB. 26, T 953.

Whitney Makes Proposal for Wall Street Renovation; First Offered in Financial District. BY RALPH HENDERSHOT

Tlmn Special Financial Writer For the first time since Wail Street has been in the process of being made over to conform with the “New Deal.” an important executive in the financial district has made a suggestion as to how this might be accomplished. Heretofore the tendency has been to wait for someone on the outside to make proposals and then take pot shots at them from ambush. Richard Whitney, president of the New York Stock Exchange, in his testimony last week before the house interstate commerce committee made the suggestion that the exchanges throughout the country be “regulated” by a federal board of seven members rather than “governed” by the

federal trade commission, as is proposed in the Fletcher-Rayburn bill now under consideration. It is not known, of course, how the suggestion will be received. More than likely it will be scrutinized from every point of view, but it may be tossed out the window summarily’ by the Washington authorities. It should be given the benefit of careful consideration if for no other reason than it represents the first indication of a desire to co-operate in bringing about better conditions in the financial district. nan Scrapping of Bill Implied Mr. Whitney found so many things wrong with the bill now under consideration that one might get the impression that it is not right in any particular. And the important thing about his criticisms is that the greater portion of them sounded as if they might be justified. And in making his own proposal he scrapped in its entirety rather than be sent back to the factory to be rebuilt.

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Ralph Hendershot

One important stumbling block stands in the way of complete cooperation between Mr. Whitney and the Washington legislators. The two factions have made no attempts to get together on a common ground as to what they wish to accomplish. As it stands now, it looks as though Washington were trying to “spank” Wall Street for its misdeeds of the past and Wall Street seems to be trying to get out of the way of the whip. a a tt nun Should Get Organized No satisfactory legislation can be expected under such circumstances. They should get together on the point of how much speculation, if any, is believed to be best for the good of the country, and they should establish to what extent the government wishes to assume responsibility for correcting the malpractices of the past. After that is accomplished it should be rather easy to prepare the proper legislation to do the trick. The Exchange authorities could be of material help in that respect. The point made by Mr. Whitney that the regulation of corporations and corporate executives should be done through legislation created expressly for that purpose rather than indirectly through Stock Exchange laws would appear to be well worth while. The exchanges have enough to do if they keep their own houses clean without being held accountable for those only remotely connected with their own.

New York Stocks “ (By Abbott. Hoppin & Cos.) ■ "

—Feb. 26 Prev. Oils— High. Low. 10 30. close. Amerada JT 3 * 47_* All Hfg 31 31% Barnsdall ...... .. ... B** 8 a Consol Oil a 13 Cont of Del 18% 18 a Houston (new) ... ... ... Houston told* * *5,. Mid Cont, Pet }?,• Ohio OH Pet Corp *;, 8 ui Phillips Pet J 16 a 16 * Pure Oil i“ 3 _ Royal Dutch • 5 8 Simms Pet 8 Soc Vac 16 2 77 SOOf N J .... 47'. 47 47 47V. Texas Corp “6 8 2b a Tidewater Assn 10 2 J" 8 Un Oil of Cal 18 * 18 8 Am‘*RoV Mills . 25]. 2Va 25* 25'2 Beth Steel 44-a 44% 44 2 4a 2 Bvers A M 28‘2 28% 2 9, Col Fuel <Sc Iron > * ‘ 8 Cruc Steel ,q., 8 Gulf Sts Steel ?% 8 Ludlum Steel 17 8 McKeesport Tin Natl Steel •• -2,, -~ v 2? Hep I& S 22'. 22V. 22 * 23 Rep I& S pfd. ... 61>2 60 . U S Smelt .... • -,2, Vanadium 27 8 4* 4. a * 8 Mid Steel 18 17>. 8 13 . Shell Un .. . l° 2 ii U S Pipe & Fdy r° 8 U S Steel 33 33 8 U S Steel pfd. . 93 93 2 Youngstn S & T .. ••• ••• “ u Rails eg 12 Atchison ,„, 2 Atl Cst Line ••• B & O 30'a 30 30 30 2 r., n Pac .. •.. 15 4 1- r eh & 0hi043-. 43> 43* 43*. Chi & Gt W . C M & St P CM& St P pfd . ... J®, 8 {I Chi NW . 12% 12'2 12 2 13 a Chi R Isl 2,* Chi R I T'r Pfd. .. .82 De'.a & Hud 66 63 a 65 a 66 2 Erie '* Grt Northern pfd 28 111 Central “IT* K C Sou 1? 2 Lou & Nash ??, M K & T 1‘ 2 Mo Pac 4 8 s Mo Pac pfd .. .•• 78 -22 5 . N Y Cent 38 3.’a 31 -a 39 a NY CitSt L pfd 30 3 a 30'a 30% 31 2 N Y New Haven 19'. 19 19 19^8 ISm'SV'.v.r. *. •.. ••= 8 ; : SSTK5:::::::: *>. •*. ':• Sou R R 31% 31*2 31 1 2 32'a Sou R R Pfd 3 ® 8 Union Pac fee Wabash * 8 West Marvl 16% 14 3 . Motors— Auburn " Chrysler ... 55 a 56 2 Gen Motors 38 2 Graham Mot 4" Hudson ••• ••• 6a Hupp 6 ••• Mack Truck • • 36 Nash • ••• 27'b 28* Packard 5% 5'2 5*2 a Reo 4'a 5^ Studebaker ‘ 8 78 Yellow Truck 6 1 . 6. Motor A. cess— Bendix 18 " *0 Bohn Alum 61 ab 4 Borg Warner -S a a a Briggs 15 8 I® * Budd Wheel 4 2 4a Eaton Mfe 19 . 19% Elec Auto Lite 27*. 48 Houd A 5% 6 Mullins Mfg 12 3 12 2 Murray Body 9a 9-. Stew Warner 8 |% Timken Rol ... 36 . 36 a Mining— Alaska Jun 20% 20 . Am Smelt 45'a 45_a Anaconda ... ••• 13 8 Cal A- HeUla s’ s’, Cerro De Pasco 35% 35-. Granby }0 Gt Nor Ore 14 Howe Sound ..... ... ••• Ins Copper 3 8 Int Nickel 23'* -3 * Isl Creek Coal r‘, Kennecott Cop 19* 19-. Noranda Cop 3J* 34 a Phelps Dodge ... 16% 16-a Tobaccos— Am Tob IB> 75 l . 75V* Lig A Mvers (Bi Lorriilard • !•% Reynolds T 40'2 40 5 a Equipments— Allis Chalmers •• I 9 8 Am Car A Fdy *9 8 Amcr Loco . 3a5333,a 3 , Am Mach A Fdy 1* Am Steel Fdy ■ 33 , 8 Bald Loco J*. J 3 ' 8 Burroughs •■ •, I® 8 if 8 Case J I 75’. 75<2 75% .6 Cater Tract ?9* Colgat Palm Pt .. ... 15 2 15'* Congoleum ... 28'2 28 2 Foster Wheeler }?* Gen Am Tk Car .. , 40’a 41% Gen Elec 20 . 20 3 . 20 3 21'. Gen R R S'.g 40'. ... Inesol Rand 65-* 61 Int Bus Mach 143 Int Harvester 40* 41 Kelvir.ator 18* 18 ♦ Natl Cash Reg 20'. 21 Proc A Gamble .. ... ••• 38'a Pullman Inc 56'* Simmons Bed ... 20 20'. Cnd Elliot 46 3 West Air B 31 %3331 3 Westlngh Elec .... ... 40 40 s . Worthing'n Pmp 26 Utilities— Am A For Pwr 10 10 Am Power A Lit .. ... 8 3 9' A T A T 121 120 3 . 120 3 . 121'2 Am Wat Wks 21'. 21% Col Gas A Elec 15 15% Com A Sou 2 3 . J\ Consol Gas 39'. 39%3339 3 40 Elec Pwr A Lit 7 7'. E P A L pfd 14 14'* Int TAT 14 14% Lou GAEA 19 Nat Pwr A Lit 11% 11% North Amer ... 19% 19 19% 19 T * Pac G A E 19% Pub Serv N J 39% 40 So Cal Edison 19% S:d Gas 12% 12 12 12 s . Std Gas pfd 12'. United Corp 6% 6% 6% 7 Un Gas Imp ... 18 18% Ut Pwr A Lit A. ... 3". 4 Western Union .. 57 5 . 57'. 57'. 58% Rubbers— Goodrich 16 15 s . 16 16 Goodvear ... 36% 38 U S Rubber 19% U S Rubber pfd 41% 41 s . Kel Spring 3% 3 s . Amusements— Croslev Radio ... ... 12% Fox Thea 14% 14 14 14% Loews Inc 30'. 30'. 30% 30% Radio Corp 7% 7% 7 s * 7’* RKO 3'. 3% Warner Bros ... 6% 6% Foods — Armour A ... 5% 5% Beatrice Cream 14% Borden Prod ..... 23% Can Dry G Ale 24% Coea Cola 107% Cont Bak A .... .. 12% Coin Prod ..... 72* 72 * 72 * 73 Cra ol Wheat*. *2% 22*

Wall Street

Gen Foods 33% 33% 33% 34% Gold Dust 191/2 G W Sugar 28% Int Salt 23% Loose Wiles 39% 39 Natl Biscuit 40% 40% Natl D Prod 15 15 Purity Bak 15% S Porto Rico Sug 35 35% Std Brands 21% 21% United Fruit 63% Wrigley 58% 58% Retail Stores— Ass Dry Goods 16% 16% Best A Cos ... 31 Gimbe! Bros 5% Gr Un Tea 6% Hahn Dept Sts.. 7% 7 7'/* 7'/* Jevel Tea ... .. 451,* Kresge S S 19% 19% Kroger Groc 31 Macy R H 55% Mav Dept St 38% Mont Ward 30% 30% 30% 31 % Penny J C 62% 62% Safeway St 52% 53 Sears Roebuck 45% 46% Woolworth ... ... 51V* Aviation— Aviation Corp 7% B'i Douglass Air 23% 23'. Curtiss Wright 4% 4% Curtiss Wri (A) 10% 10% Nor Am Av 6 6'. United Aircraft 24% 25% Chemicals— Air Reduction ... ... ioo Allied Chem 154% 154% Am Com Alco 49% 49'* Cok Carbon ... . . 67 Com Solvents .. 28 27% 27'4 28% Dupont 99'* 99 99% 99% Freeport Tex 47% 47 Liquid Carb 27 27'4 Math Alkali 36% Tex Gulf Sulph 38% 38% 38% 39% Union aCrbide.. .. ... 45 45% Nat Dist i new i 25% 25% 25% 26 Drugs— Coty Inc ... 7 7 Lambert 27 1 2 27% Lehn A Fink .... ... 19% ... Zonite Prod ... 6% NFinanrial— Adams Exp 9'* 9% Allegheny Corp 4% 4% Chesa Corp ... ... 39% Transamerica .... ... 7 714 Tr Conti Corp.. 5% 5% 5% 5% Building— Am Radiator ... 15 14% 14% 15% Gen Asphalt ... 18% 18% Int Cemen t... 30% 30'? 80% 31 Johns Manville 58'* 58% 58% 58% Libby Owens Gls ... 36% 37% Otis Elev 17% 17'* 17% 16% Miscellaneous— Am Bank Note 19 Am Can 103% 103 103 102 Anchor Cap ... . 21 Brklvn Man Tr. . . ... 31% 31% Conti Can . . 77% 77% 77% 78 Eastman Kodak 88V* 88% Owens Bottle ... ... 88** Gillette 11 H'r Glidden 22% 22% Gotham Silk ... ... 9% Indus Ravon 83% 84% Inter Rapid Tr 9% New York Curb (By Abbott, Hoppin A Cos.) —Feb. 24Close, i Close. Allied Mills ... 8% Gen Aviation .. 7 Alum Cos of Am 73 Glen Alden Coal 19% Am Cyanide B. 18% Gulf Oil of Pa.. 70 Am Oas A* El.. 27% Hiram Walker.. 45 Am Superpwr.. 3% Hud Bay Min... 10 Asso Gas A El. 1% Humble Oil 40% Atlas Corp 13’ *'Imp Oil Ltd ... 13% Brit Am Tob A 30% Int Petrol 21% Brit Celanese.. 3% Natl Bellas Hess 3% Can Ind Ale A. 16% Newmont Min . 51 Can Marc 3% Nia Hud Pwr... 7 Carrier Corp .. 7 Pan Am Airwys 39 Cities Serv .... 3'4 Penn Road .... 3% Comraen Edi .. 53% St Regis Paper. 4 Cord Corp 7 !Sal Crk Prod... 7 Creole Petrol. . 11% Sherwin Wms. . 6'. Crn Cork Inti. 7'* Std of Ind 30% Deere ACo ... 31 Std of Ky 16% Distillers Lim.. 21% Tenlcolor Ind. 9% Distillers Corp. 20%Teck Hughes Gd 5% FI End A- Sh... 18 Un Gas 4% Fisk Rubber . 16% Un Pr ALt A.. 3% Ford of Car. A 22% VVr Harg Min... 7'a Ford of Europe 7 I New York Bank Stocks (Bv Abbott. Hoppin A Cos.) —Feb. 24 Bid Ask. Bankers 63'* 64 Brooklyn Trust 101 105 Central Hanover 131 % 133 Chase National 29% 29% Chemical 39 s * 40% National Citv 29% 30 Corn Exchange 54% 55% Continental 14 14% Empire 19 19% First National 1.620 1.620% Guaranty 338% 340' 2 Irving 17% 18% Manhattan A Cos 30% 31 Manufacturers 21% 21% New York Trust 95% 96% Public 30'2 31%

Federal Farm Loan Bonds

By Blyth A Cos.. Inc. Feb. 24 Bid Ask 4s Nov. 1 1957-37 92% 93% 4s Mav 1 1958-38 92' 2 93% 4 1 *5 JulV 1 1956-36 93% 94% 4%s Jari. 1 1957-37 93'* 94% 4**s Mav 1 1957-37 93% 94% 4' *s Nov. 1 1958-38 93% 94% 4%s Mav 1 1942-32 95% 97 4%s Jan. 1 1943-33 94% 95% 4%s Jan 1 1953-33 94% 95% 4%s July 1 1933-33 94% 95% 4%s Jar.. 1 1955-35 94% 95% 4%s July 1 1955-35 94% 95% 4%s Jan. 1 1956-33 94% 95% 4%s July 1 1953-33 95% 97 4%s Jan. 1 1954-34 95’* 97 5s Mav 1 1941-31 99% 100 % 5s Nov. 1 1941-31 99 s * 100% Home Loan 4s. July 1. 1951.. 95 s * 96*

In the Cotton Markets

—Feb. 24 CHICAGO High Low Close January 17 73 12.7® 12.70 March .. 12 13 Mav 12 28 12 21 12 25 Julv 12 43 12 36 12 37 October 12.58 12 53 12 53 December . 12 70 12 63 12.63 NEW YORK January 12 65 12 58 12 58 March 12 04 12.01 12.02 Mav 12 22 12 13 12.17 Julv 12.37 12 27 12.30 October 12 53 12 44 12 44 December 12 63 12.54 12.54 NEW ORLEANS January 12 57 March 12 04 11 96 12 04 Mav 12 20 12 12 12.14 July I 12 32 12.26 12.23 October .......112 48 12 42 12 43 Dec am bar 12.60 12.52 12.55

SECURITY PRICES MOVE DOWN IN HEAVYTRADING Selling Drive Reduces Auto Group; Most Shares Off Fractions.

Average Stock Prices

Average of thirty Industrials for Saturday: high 108 17. low 104.56. close 104.77, ofT 1.37. Average of twenty rails: 49:99. 49.00. 49 08. off .94. Average of twenty utilities: 27.57, 27.08, 27.13. off .47. Average of forty bonds: 91 89. off .14. Average of ten first rails: 97 45. off .12. Average of ten second rails: 82 04. off .12. Average of ten utilities 94 72. off .09. Average of ten industrials: 93.37, off .22. BY ELMER C. WALZER United Press Financial Editor NEW YORK, Feb. 26.—Prices continued to decline at the opening on the Stock Exchange today. Losses were fractional in most instances but volume was fairly heavy with blocks of 1,000 to 3,000 shares appearing. Du Pont opened at 99 off % on 1,100 shares; United Corporation 6?i, off !4 on 3,000 shares; Packard 3,000 at 5%, off V*; United Aircraft 2,400 at 244, off 1%; Montgomery Ward 2,300 at 30 %, off %; Kennecott 2,000 at 19%, off %; American Smelting 1,000 at 454, off %. Utilities were lower as were communications. In the latter group Western Union lost nearly a poin to 57%. Standard of California declined nearly a point to 394, while Phillips Petroleum gained 4 to 164 in an irregular oil division. Spread of strikes in automobile sections brought selling into the automobile shares. Chrysler lost % to 55 4, while General Motors on a block of 4,000 shares dipped % to 38. A few issues resisted pressure. Douglas Aircraft opened at 234, up 4, while Mclntyre Porcupine, International Nickel and Auburn Auto held unchanged. American Can spurted 14 to 1034. Steel common was weak, opening at 55 off 14 on 2,000 shares. Activity continued in the early trading. Automobile shares met further selling. International Nickel eased slightly. Consolidated Gas held around the opening of 394, off 4. General Electric and several other leaders dipped further, while small recoveries were noted in United States Steel, New York Central and United Aircraft.

Bank Clearings

INDIANAPOLIS STATEMENT —Feb. 26 Clearings $1,611,000.00 Debits 4.487,000.00

Treasury Statement

By United Press WASHINGTON, Feb. 26.—Government expenses and receipts of the current fiscal year to Feb. 23. compared with the corresponding period of the previous fiscal year: This Year Last Year. Expenses $4,148,421,114.34 $3,269,584,101.51 Receipts $4,665,026.910 51 $1,230,532,619.62 Surplus.. $ 516.605.796.17 x 52.039,051,481.89 Cash Bal $4,988,709,251.74 xDeficit.

Foreign Exchange

(By Abbott, Hoppin & Cos.) —Feb. 24Close. Sterling. England $5.07% Franc. France 6056 Lira. Italy 0856 Belgias. Belgium 2323 Mark. Germany 3956 Guilder. Holland 6709 Peseta. Spain 1350 Krone, Norway 2555 Krone. Denmark 2270

Investment Trust Shares

(By Abbott, Hoppin & Cos.) —Feb. 24Bid. Ask. American Bank stocks Corp.. 1.18 1.22 American & General Sec A.. 5.50 7.50 American & Inv Tr Sh 2 00 3.00 Basis Industry Shares 3.60 3 70 British Type Inv Tr Sh 70 80 Collateral Trustee Shares A.. 4.87 5.12 Corporate Trust Shares (old) 2.20 2.24 Corporate Trust Shares (new) 2.51 2.54 Cumulative Trust Shares .... 4.40 4.48 Diversified Trust Shares A.... 6.25 .... Diversified Trust Shares 8.... 8.50 8.75 Diversified Trust Shares C.... 335 3.40 Diversified Trust Shares D.... 5.10 5.20 First Insurance Stock Corp.. 128 1.32 First Common Stock Corp.... .95 1.10 Fixed Trust Oil Shares A.... 9.00 9.25 Fixed Trust Oil Shares 8.... 7.87 8.12 Incorporators Investments .... 19.37 20.75 Land Bank Bond Shares 1.06 1.17 Low Priced Shares 6.60 6.70 Mass Inv Trust Shares 19.95 21.68 Nation Wide Securities 3.60 3.70 North Amer Trust Shares (53) 1.93 1.97 North Amer Trust Shares (55l 2.53 258 North Amer Trust Shares (58) 270 2.85 Selected American Shares .. 3.35 .... Selected Cumulative Shares.. 7.20 Selected Income Shares 3.60 4.00 Std American Trust Shares A 3.14 3.18 Trust Shares of America .... 3.00 3.06 Trustee Std Oil A 5.75 5.85 Trustee Std Oil B 5.40 5.55 U S Electric Lt & Pwr A 13.00 13.75 Universal Trust Shares 3.25 3.30

U. S. Government Bonds

By United Pres* NEW YORK. Feb. 24 Closing liberties 1 Decimals represent thirty-seconds): —Liberty—--3%s i32-47i 102.2 First 4%s (32-47) 102.23 Fourth 4%s (33-38' 102.25 —Treasury—--4%s 3%s (45) 100.14 4s (47-521 109 3%s (43-47) 101 3%s '4l-43i March 101.1 3%s 140-431 June 101 3%s (41) 100 14 3%S (46-49) 98 31 3s (51-55i 97.17

Retail Coal Prices

* The following prices represent quota- : tions from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES Anthracite $4.25 Coke, nut size 8 75 Coke, egg size 8."5 Indiana, forked lump 5 50 Indiana, egg 5 00 Indiana, mine run 4.75 (Kentucky lump 7.00 Pocahontas lump 8 25 l Pocahontas egg 8.25 Pocahontas forked lump 9.25 : Pocahontas mine run 7.25 New River smokeless 8.25 I West Virginia lump 6.75 j West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin. CHICAGO FRUIT MARKET By United Pres* CHICAGO Feb. 26.—Apples—Michigan ' Jonathans. $1.75; Baldwins, bushel. $1.25. I Carrots—lllinois. 40® 60c bushel. Spinach —Texas. 65® 85c bushel. Beans—Southern, green. $2 50®2.75 bushel: wax. $2.2502.75. Cucumbers—Central western, hothouse, $2 ®2.50. two dozen. Tomatoes—Florida. Si 01.75 box. Sweet potatoes—Tennessee. $1 4001 45 bushel: Indiana. $1.65®1.75. Rhubarb—Michigan, hothouse. 20 a 40c. five pounds. Rutabagas—Central western. 70® 85c. fifty-pound sacks. Turnips—Central western. 50® 75c bushel. Onion market iSO-'.b sacks' Western Valencias, central western yellows ar.d western whites: no ! sales: market nominally unchanged. NEW YORK COFFEE FUTURES —Feb. 24 SANTOS High Low Close March 10.50 May 10.73 10 67 10.73 ! July 10 87 10.74 10 87 September 11.19 11.02 11.19 December 11.31 11.14 11.31 RIO January 8 86 March 8-45 8 35 8.45 May 851 8.40 8.51 July 8 55 8.41 8.55 September •. .• 861 8.45 8.61 December 8 M 8.47 8.68

;THE INDIANAPOLIS TIMES

Chicago Stocks Bt Abbott. Hotitiin A Cos.

—Feb. 24High. Low. Close. Acme Steel Cos 40 Adams Mfg 8 Advance Aluminum .... 34 34 34 Altorfer Bros ,4. 23 Am Pub Serv pfd...,4 9 74 74 Asbestos Mfg ..X 34 34 34 Bsstian-Biessing ...... 74 64 7 Bendix Aviation 204 20 20 Borg Warner 26 4 25 4 25 4 Butler Bros 114 104 11 Cent 111 Pub Serv pfd 20 Cent 111 Securities com. ... 4 Cent II Securities pfd. .. ..> 84 Cent <fc So West 14 Cent & So West jpfd 64 Cent &So West PLpf 13 12% 124 Chi & North Western.. 134 13 13 Chicago Corp com 34 33 Chicago Corp pfd 28 Chicago Flexible Shaft 104 Cities Service 34 34 34 Commonwealth Edison. 544 54 544 Consumers ... % Cord Corp 74 7 7 Crane Cos 94 94 94 Dexter Cos .. ... 44 Gen Hhsehold Ut 134 13 13 Goldblatt Bros 164 164 164 Great Lakes Aircraft Hall Printing 7Vi Hormel & Cos X ... 20 Houdaille Hershey A 6 Illinois Brick 64 Kalamazoo Stove 254 25 25 Kellogg Switch com 3 Libby McNeil 54 5 5 Lincoln Printing 14 Lynch Corp ... 37 Marshall Field 164 164 164 McWilliams Dredg Cos.. .. ... 22 Meadows Mfg Cos com 4 Middle west Utilities .. 4 4 4 Mid and United pfd 14 Midland Util 6% PL... 2 14 2 Mosser Leather 14 National Leather ...... 24 2 24 National Standard ... 264 Noblitt Sparks Ind Inc. 154 144 144 North American Car 54 North Amer Lt & Pwr.. 24 2V4 24 Northwestern Engineer. .. ... 6 No West Util pr lien ... . 74 Oshkosh Overall .A ,v. 54 Penn Gas & Elec ...... 4, 114 Pines Winterfront ...A A JK 14 Quaker Oats A i Ia 1174 Quaker Oats pfd 7. ... 120 Reliance Mfg Cos 17 Reliance Mfg pfd 97 Ryerson & Son 18 Southern Union Gas 14 Standard Dredg Cos 2 Standard Dredg Cos pfd 4 Swift & Cos 174 17 17 Swift Internationa ... 26 United Printers & Pubs 14 Utah Radio 24 2 2 Utility & Ind 14 Utility & Ind pfd 4 - Wahl 2 Wayne Pump com 14 Yates Machine 4 Zenith Radio 34

Bond Prices

(By Fenner & Beane) High. Low. 10:30. Alleg Corp 5s ’SO 344 33% 34 Am & For Pwr 5s 2030 50% 50 50 7 /a A T & Tdb 5s ’65 107 4 107 107 Atchison gen 4s '95 994 B&Ocv 4s '6O 69 4 68 4 68 4 Can Pac 4s '57 734 ChMStP&P adj 5s A 2000 194 19 19 CHMStP&P rs 5s A '75 494 49 49 Cons Gas NY 44s ’sl 98T4 ... 98% Denmark 54s ’55 934 Erie RR rs 5s ’67 72 4 714 72 Goodyear 5s '57 95 944 944 Gt Nor 44s D '76 77% 77 77% Gt Nor 7s A '36 94% 944 94% Int T <fc T db 5s ’55... 65% 65% 65% McKess & Robb 54s ’SO 71 70 4 70% Nat Dairy db 54s ’48.. 87 4 87 87 4 NY Cent 44s 2013 87 Nor Am 5s ’6l 80% PacGas&El 5 S A '42...105 10474 104% Shell Un Oil 5s '47 95 Sin Cons 64s B 38 103 4 103% 103',•> Texas Corp 5s ’44 1004 Tob Pr NJ 64s 2022...105 1044 1044 Un Pac Ist 4s ’47 101% 1014 1014 US Rubber 5s A ’47 77 764 77 Western Un 5s 'sl 884 Ygstwn S&T 5s B '70... 87 86 4 86%

On Commission Row

—Feb. 26 Erults Cranberries—Cape Cod early blacks. 25lb. box. $2.25. Pears—Calavos (12-16-20-245), $3.50. Strawberries—Florida. 14c per pint. Bananas—Per pound. sc. Apples—Wealthy, Wolf River, Grimes Golden, Jonathan. Florida, [email protected] a bu.. fancy Staymans. $2.25 a box. Grapefruit—s3.2s® 3.75. Oranges—California Navels. $3.50. Vegetables Cabbage—New Texas, half crate, $1.25. Onions—lndiana red. 50-lb. bag. $1.40: Indiana yellow. 50-lb. bag. $1.40. Beans—Round stringless, hamper. $3. Beets—Bulk per bu., $1.15; Texas, new $1.50 a crate. Peas—3oc lb. crate. $3.25. Carrots—California. $3 a crate; per doz., 60c; bulk per bushel. $1.15. Cauliflower—California (10-11-12s). crate $1.60. Celery—Michigan Mammoth. dozen, 85c; medium bunch, 45c; hearts. 35c. California. $2.40 a crate. Cucumbers—Hothouse. $1.15 per dozen. Lettuce—lceberg. best i4-ss), crate, $3.50; hothouse. 10-lb. basket. 75c. Radishes —Hothouse button, 45c dozen. Spinach—New Texas. 90c bu. Turnips—Per bu.. 90c. Tomatoes—3o-lb. carton, $2.25. Potatoes—Northern round whites. 100-lb. bag. $2.25; R. R. Ohios. 100-lb. bag, 52.30; 15-lb. bag, 40c; Idaho Russets. 100-lb bag. $2.60. Sweet Potatoes—Nancy Halls, per bu.. $1.65.

Produce Markets

Delivered in Indianapolis Prices—Hens, 10'ic; Leghorn hens. 10c: Leghorn spring-er-stags. 6c; large springer-stags, 9c; cocks. sc; Leghorn cocks. 4c:' ducks, full feathered and fat. 4% lbs. and over. 8c: geese. 6c: young guineas. 1% to 3 lbs.. 35c: old guineas. 25c. No 1 strictly fresh country run eggs, loss off 13c: each full case must weigh 55 lbs. gross: a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1. 27® 1 29c; No. 2, 24®25c: butterfat, 22c.—Quoted by Wadley Company. Bv United Press CHICAGO. Feb. 26. Eggs Market steady: receipts. 13.387 cases: extra firsts, 16%c; fresh graded firsts, 16' 2c: dirties, 14c; current receipts. 15%c: checks. 13%c. Butter—Market steady; receipts. 8.207 tubs; storage extras (92 scorei, 23%c; storage standards (90 score). 23%c; extra firsts <9O-91% scorei. 24®24%c% firsts * 8889% scorei, 23®23%c: seconds (86-87% score). 22%c: extras 192 scorei, 25c; specials, 25'4 ®26c: standards. 24%c. Poultry —Market steady; receipts. 23 trucks, 4 cars due: turkeys (young), 17® 18c; hens, 13® 14c; Leghorns (No. 21. ,9c; ducks. 12® 15c: geese. 10c; old roosters. 9c: White Rock broilers. 21c; springers, 15®16c; Plymouth Rock. 17c. Cheese—Twins. 14%® 14%c: Longhorns. 14%®15c; daisies. 14%® 15c. Potatoes—Supply liberal; no trading on account of cold weather; operators not opening cars: shipments, 656. arrivals 173. on track 406. CLEVELAND. Feb. 26—Butter—Market firm: extras. 29c; standards, 28%c. Eggs —Market, firm: extra whites. 16%c: current receipts, 16c Poultry—Market, weak; colored fowl, medium, 15c: colored fowl, heavy, 14c; Leghorn fowl, light. 11c: Leghorn fowl, 3% lbs. and up. 13c; springers, smooth, 16c: capons. 8 lbs. and up, 22c; colored broilers. 20-22 c: stags, 12c; roosters. 9c; ducks, white. 5 lbs. and up. 18c; ducks, light. 16c: geese. 12c. Potatoes — Maine, best. $2 25'b2.35; Idaho Russet Burbanks. S2 25''a2.40; Ohio, best, $2®2.10; Florida. $1.75 per bushel crate. NEW YORK. Feb. 26.—Potatoes—Firm: Long Island, $1.50® 2.70 bbl.; southern, $2 75® 5 bbl; Maine, $1.40® 4.25 bbl; Idaho. $2.50® 2.65 sack: Bermuda. $1.50®1.75 crate; Canada, $2 10® 2.25 bbl. Sweet potatoes. steady; Jersey, basket, 50c®51.50; southern, barrel. $1.50®2; southern, basket, 40c® 1.25 Flour —Steady; springs, patents, $6 40®6.65 bbl. Pork—Steady; mess, $21.50 bbl. Lard —Dull: middle west spot, $6.80® 690 per 100 lbs. Dressed poultry—Quiet; turkeys. 15®25c; chickens, 10®21c: broilers. 14®35c: capons. 19®32c; fowls. 11® 17c: ucks. ll®15c: Long Island ducks. 15 ® 15%c. Live poultry—Quiet: geese, B®l2c; turkeys, 15®20c; roosters, 10c: ducks, 8® 12c: fowls. 14® 15c: chickens. 12® 16c; capons. 16®24c; broilers. 10®26c. Cheese — Dull; state whole milk flats to specials 1933. 19®20c; young America. 16c. But-ter-Receipts. 7.603 pkgs.; market, firm; creamery, higher than extras. 26% ® 27c; extra <92 scorei. 26c; first (90-91 score), 25%c; first (88-89 score), 25®25%c; centralized (90 scorei, 25%c: centralized <BB- - scorei. 25®25%c. Eggs—Receipts. 2.034 cases: market, firm; special packs, including unusual hennery selections. 19®20%c; standards. 18%®18%c: firsts. 17%@18c; seconds. 17c; mediums, 17c; dirties. 17c; checks. 16c. Other Livestock Bv United Press PITTSBURGH. Feb. 26 —Hogs—Receipts. 3.000; holdovers, none; active. 20c to 25c higher; top and bulk. $5.35 on 150 to 210 lbs., butchers over 250 lbs., quotable. $5 down; 120 to 135 lbs.. $3.50® 4; packing sows, largely $4. Cattle—Receipts. 300; fairly active: generally steady, quality considered; bulk steers and yearlings. ss® 5.75; top, $5.75; better grade steers absent, eligible to sell up to $6 and betters common, down to $4 and below; medium to good heifers $45 5; choice kinds, absent: cows and bulls, steady: good cows, $3.25® 3.75; low cutters and cutters. $1.50®2.75; bulls. $3 75 down. Calves—Receipts. 400; steady; good cows. $3.25® 3.75; low cutters, ani cutters. $1.50®2.75; bulls. $3.75 down. Calves—Receipts. 400; steady: good and choice vealers, mostly $7.50; medium, $5.50 0 6.50. Sheep—Receipts. 600; steady: better grade fat lambs, mostly $10.25; common to medium. S6®9 25; aged wethers. $6 down; ewes, up to $5.50; good and choice lambs. $7.50® 8 25 CLEVELAND, Feb. 26.—Cattle—Receipts, 800: market, steady; all sold: choice steers. 750-1.100 lbs. $6.25® 6.75; 550-1.200 lbs., ss® 6: heifers. 600-1.000 lbs . $4 25® 5.50: good cows all weights. $2.50® 3.25. Calves —Receipts. 400; market, active and 50higher choice to prime. s*®B.so: choice to good. $6.50®7.50: fair to good. $5.50® 6 50. Sheep—Receipts. 1,000: market, activp and strong; choice wethers, s4®s: medium to good. s3®4: choice ewes, $3 50 ®4.50: choice spring iambs. s9® 10; good to choice. sß®9. Hogs—Receipts. 1.400; market, 30®50c higher as storm conditions hold; receipts light; lightweights regain $5 level: 250-300 lbs, $4.50®4.75: 220-250 lbs., $4.75®5: 180-210 lbs,. $4.90®4; 150180 lbs., S4 90®i stags, $2; roughs, $3; pigs, $3.2553:5Q,

SWINE VALUES RISE 25 TU 35 CENTSAT PENS Cattle Market Slow and Irregular; Vealers Strengthen. Swine values were strong to largely 25 to 35 cents higher than Saturday's average at the Union Stockyards this morning. Underweights registered a smaller advance at 15 cents up. Receipts were extremely light for a Monday session and demand was fairly heavy. The bulk, 160 to 325 pounds, was selling at $5. Lighter grades, weighing 130 to 160 pounds, sold at $4 to $4.50. Small slaughter pigs, 100 to 130 pounds, brought $2.50 to $3.75. Receipts were estimated at 3,000. Holdovers, 120. General trade developed slow in the cattle market, with asking sharply higher than the previous close. Early bids remained unchanged. Receipts numbered 300. Vealers moved around 50 cents higher than Friday’s average, selling at $7.50 down. Odd head reached SB. Receipts were 200. With hardly enough stock on hand to test the market, lamb prices held quotably steady, or $9.75 down. Early trading was scarce and bulk prices were undetermined. Receipts were 100. Renewed demand at Chicago sent porker prices sharply 15 to 25 cents higher than Saturday's average. Choice grades, weighing 180 to 280 pounds, sold at $4.70 to $4.90. Initial top held at $4.90. Receipts were estimated at 38,000, including 13.000 direct; holdovers, 1,000. Cattle receipts numbered 15,000; calves, 2.000; market steady to weak. Sheep receipts 15,000; market, unchanged.

HOGS Feb. Bulk. Top. Receipts. 20. s4.6o'® 4.70 $4.75 7,000 21. 4.50'® 4.55 4.60 6,000 22. 4.55® 4.65 4:65 5.000 23. 4.80® 4 90 4.90 5.000 24. 4.65® 4.75 4.75 1,500 26. 5.00 5.00 3,000 Market Higher. (140-160) Good and choice. .$4.25@ 4.50 —Light Weights—-(l6o-1801 Good and choice.... 5.00 (180-200) Good and choice.... 5.00 —Medium Weights—-(2oo-2201 Good and choice.... $5.00 (220-250) Good and choice.... 5.00 —Heavy Weights—-(2so-290) Good and choice.... 5.00 (290-350 Good and choice.... 4.80® 5.C0 —Packing Sows—(3so down) Good 3 85® 4.25 (350 up) Good 3.60® 4.10 (All weights) Medium 3.50® 4.00 —Slaughter Pigs—-(loo-130) Good and choice.... 2.50® 3.75 CATTLE Receipts, 300; market, steady. 0.050-1.100) Good and choice $6.00® 7.00 Common aid medium 4.00@ 6.00 (1.100-1,5001 Good and choice 5.50® 7.00 Common and medium 4.00® 5.50 (675-7501 Good and- choice 5.25® 6.50 Common and medium 3.00® 5.25 (750-900) Good and choice 4.75® 6.25 Common and medium 2.75® 4.75 —Cows— Good 3.25® 3.75 Common and medium 2.75® 3.25 Low cutter and medium 1.50® 2.75 —Bulls (yearlings excluded)— Good (beef steers) 2.75® 3.50 Cutter, common and medium.. 1.50® 2.75 VEALERS Receipts. 200; market, steady. Good and choice $7.00® 8.00 Medium 4.50® 7.00 Cull and common 2.50® 4.50 —Calves—-(2so-500) Good and choice 9 50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle) — (500-900) Good and choice 4.00® 5.25 Common and medium 2.75® 4.00 (800-1.5001-Good and choice 4.00® 5.25 Common and medipm 2.75® 4.00 SHEEP AND LAMBS Receipts. 100; market, steady. (90 lbs. down) Good & choice.s9.2s® 9.75 (90-110 lbs.) Good and choice. 9.00® 9.50 (90 lbs. down) com. and med. 7.00® 9.00 —Ewes— Good and choice 4.00® 5.00 Common and medium 2.00® 4.00

Other Livestock

By United Press CHICAGO, Feb. 26.—Hogs—Receipts, 38,000, including 17,000 directs; active 20 ®3oc higher; 180-300 lbs.. $4.75®4.90; top, $4,95: 140-170 lbs., $4.25®4.75; good pigs, s3® 3.50; bulk best packing sows, $4.10® 4.25: light lights, 140-160 lbs., good and choice, $4®4.65; light weight, 160-200 lbs., good and choice, $4.50® 4.90; medium weights. 200-250 lbs., good and choice, $4.80474.95; heavy weights, 250-350 lbs., food and choice. $4,604/4.90; nacking sows, 75-550 lbs , medium and choice. $3.90® 4.50; slaughter pigs, 100-130 lbs., good and choice, s3® 4. Cattle —Receipts, 15.000: calves, receipts, 2.000; lower grade light steers and all yearlings, steady; strictly good and choice, all weights, steady, but ls-between grades predominating and undertone weak, especially on kinds scaling 1.100 lbs. and up; early top yearlings. $6.90; cutter cows, steady to weak: fat cows and bulls, fully steady: slaughter cattle and vealers: steers 550-900 lbs., good and choice, $6,254/ 7.50; 900-1.100 lbs., good and choice, $5.75®7.35: 1,100-1.300 lbs . good and choice, $5.25®7 25; 1.3001.500 lbs., good and choice. $4.50®6.75: 5501,300 lbs., common and mediem, s4®, 5.50; heifers. 550-750 lbs . good and choice. $5.25®6.75; common and medium. $3.50® 5.25: cows, good, $3.50® 4; common and medium. s3® 3.50; low cutter and cutter. $1.50®3: bulls, yearlings excluded, good beef. $3.10® 3.65: cutter, common and medium. $2.75® 3.50 vealers. good and choice. $5.75® 7.25; medium. ss® 5.75; cull and common. s4®s: stocker and feeder cattle: steers. 550-1,050 lbs., good and choice. $4.50®5.75; common and medium, $3.25® 4.75. Sheep—Receipts. 15.000; opening slow, asking 15® 25c and more higher for wooled lambs; buyers talking weak to lower early; best handiweights about $10; most early bids under $9.75; sheep steady slaughter sheep and lambs: lambs 90 lbs. down, good and choice. s9® 10; common and medium, $7 25® 9 25; 90-98 lbs., good and choice. $8.50® 9.85: ewes. 90-150 lbs., good and choice, $4®5.75; all weights, common and medium. $3®4.50. EAST ST. LOUIS. II!.. Feb. 26.—Hogs— Receipts. 8.000: including 150 through and 3.200 direct; market 25® 30c higher; a few pigs strong to 25c higher; top. $5; bulk. 170-240 lbs., $5: few 260-280 lbs., $4.65® 4.80: 350-lb. weights. $4.50; 140-160 lbs., $4 ®4.75; 100-130 lbs., $2.75®3.50; sows, largelly $3.90®4.10. Cattle—Receipts. 1.800: calves, 1.000: market, active on all classes: steers, 15®25c higher; mixed yearlings and heifers, 25c or more up; cows, 15®25c higher; bulls, 10015 c higher; vealers 50c higher: early steer sales. $4.40 06; mixed yearlings and heifers. $4.35®5.25; cows. $3®3.50: low’ cutters, sl2s® 2: top sausage bulls. $3.25; top vealers, $7.25. Slaughter steers. 550-1,100 lbs., good and choice, $5.75®6.85: common and medium. $3.75® 6: 1.100-1 500 lbs., choice. *5.2506.75; good. $4 250 6.50: medium. s4® 5.75. Sheep—Receipts, 1,500; market, few choice wooled lambs to citv butchers, 25c higher at $lO 010.25; no other sales or bids. Lambs, 90 lbs. down, good and choice. $9.25010.25: common and medium, $6.2509 50: 90-98 lbs, good and choice. $9®10.25: yearling wethers. 90-110 lbs., good and choice. $6.75 ®8.50: ewes. 90-150 lbs., good and choice. $3.7505.50: all weights, common and medium. $2.7504.25. FT WAYNE. Feb. 26—Hogs—Market. 25c higher: 200-250 ibs.. $4.80: 160-200 lbs., $4 80: 250-300 lbs., $5: 300-350 lbs.. $4.60: 150-160 lbs.. $4.25: 140-150 lbs., $4; 130-140 lbs . $3.75; 120-130 lbs.. $3.25; 100-120 lbs.. $2 75; roughs, $3.75 down; stags. $2.25. Calves. $7.50 down; lambs, $9. Lafayette. Feb. 26.—Hogs—Market. 150 25c higher; 250-325 lbs.. $4.6004 85: 170250 lbs.. $4 7504.80: 140-170 lbs., $404.25; 120-140 lbs.. $3.2503.75: 100-120 lbs.. $2 2503; roughs, $4 down: top calves. $6.50; top lambs, $8.50. By Time* Special LOUISVILLE, Feb. 26.—Cattle—Receipts, 600; largely a weather market: very uneven: few sales steers and heifers uneveniv higher but, general market on these mostly 25c higher than close last week, or about steady with last Monday: other killing classes unchanged: bulk common to medium steers and heifers. s4® 5; better finished kinds. $5 25®6: latter for 590-lb. yearlings; load 981-lb. steers, $5.75; bulk j beef cows. $2.75 0 3.50; low cutters and I cutters. $1.5002 50; sausage bulls mostly $3.50 down: practically nothing done on Stockers and feeders; run includes liberal quota Hereford stock calves: these considered eligible mostly, ss® 5.50. Calves—--550: including several loads stock calves; vealers fully 50c higher than Saturday or 50c ® $1 higher than last Friday; bulk better vealers, s6® 7: medium grades. SSO 5.50; plainer sorts $4.50 down. Hogs—Receipts. 1.500; including 208 direct; weights from 120-140 lbs., steady all others 15c higher: 170-240 lbs.. $5.05; 245-270 ibs.. $4.75; 275 lbs. up. $4 40; 145-165 lbs . $4 15: 120-140 lbs„ $3 25: sows, $3.15; stags, $1.85. Sheep —Receipts, 50; fully steady: medium to good lambs mostly $7.5008.50; choice grades quotable, *9; most thxowouM, $5.50; -lav ew<ts quoted* *2.5003.

AIL Chemical Am. Smelting Am. Can Am. Telephone Am. Tob. B Atchison Chrysler Con. Gas N. Y. DuPont Goodyear

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This daily record of the movements of twenty active stocks, averaged, gives a clear view of the market trend. Long pull movements and daily variations are apparent at a glance.

Administration Optimistic Over Business Outlook

Bank Heads Report Steady Increase in Deposits; Output Gains. BY RICHARD L. GRIDLEY United Press Financial Correspondent WASHINGTON. Feb. 26.—Rising optimism over the business outlook became increasingly apparent in administration circles today with trade reports of a further expansion of industrial activity. Most signs indicated today that the business curve which turned upward some time in December has been moving ahead at an increasing pace. Administration officials studied means of augmenting the upswing. The latest plan was to reopen the long-term capital market so that the small heavy industries could be refinanced. Some of the heavy industries already are stepping up output with the approach of spring. Steel ingot output last week rose to 44 1 2 per cent of capacity from 41 per cent in the previous week and 25 hz per cent at that time last year. Electric power output in the previous week was 11.6 per cent above the corresponding period of last year, compared with a gain of 11.4 per cent in the preceding week. Automobile output rose to 63,794 units from 24,827 a year ago and bituminous coal production amounted to 8,015,000 tons from 7,520,000 tons a year ago. Banking leaders reported a steady increase in deposits, in marked contrast to conditions a year ago when heavy withdrawals preceded the March banking crisis. According to Leo T. Crowley, new chairman of the federal deposit insurance corporation, rising bank deposits are attributable to the effects of the government’s bank deposit insurance plan. Improved financial conditions have helped strengthen federal government credit. Through the building up of a cash balance of approximately $5,000,000,000, the largest assembling of cash in history, the treasury has placed itself in an impregnable position to finance the next stage of the recovery program which calls for the outpouring of billions of dollars into commercial channels.

NORTHWESTERN ALUMNI HOLD MEETING HERE Prominent Officials Address Session at Columbia Club. Speakers at the regional conference dinner of Northwestern university, held at the Columbia Club last night, included Thomas A. Harwood, president of the national alumni association; Robert E. Day, executive secretary of the association; Thomas A. Gonser, --- sistant to Dr. Walter Dill Scott, president of the university and Guy Goodman, director of new students. More than fifty alumni of the university attended the dinner. Arrangements were in charge of Walter Jackson. Musical entertainment was furnished by pupils of the Irvington School of Music. Births Girls John and Doris Cowherd, city hospital. Fredrick and Frances Thomas, city hospital. Herman and Martha Jones, city hospital. Henry and Beatrice Goebel, city hospital. Elbert and Nora Young. 1412 Gross. Harold and Ellen Wilknew, St. Vincent’s hospital. Boys W'alter and Nellie Johnson, citv hospital. John and Thelma McDougal, city hospital. Oscar and Ida Yates, city hospital. William and Eula Coleman. 29)5 Shriver. Earl and Dorothy Booth, 3408 Madison. Deaths Lydia Margaret Hamrick. 60. 1057 South Pershing, angina pectoris. Noble Geary. 38, Veterans' hospital, pulI monary tuberculosis. Mary E. Hungerford. 63. city hospital, broncho pneumonia. Marie Marshall. 51. 924 Park, caicinoma. Asa McCorkle. 59. city hospital, coronary thrombosis. Harmon Willson Marsh. 72, 3258 Park, cardio vasscular renal disease. Effie May Davenport, 67. 4710 Hinesley, cerebral apoplexy. Robert Taylor Clark, 33, 441 North Drexel. pneumonia. James Price Warrick, 73. 5222 Graceland, coronary thrombosis. Jesse J. Davis. 68. 4052 Broadway, cerebral hemorrhage. Thomas H. Boswell, 66. 1528 Central, Influenza. Maud Zink. 50, 1118 West Twenty-ninth, myocarditis. Louise Cameron Armlstead, 51, 1116 Cornell, apoplexy. Henry Joseph Hay. 62, city hospital, cerebral hemorrhage. Ophelia Pinkston, 30. city hospital, peritonitis. Viola Fagin. 34, city hospital, cerebral embolism. Olive Lawrence, 10. city hospital, lobar pneumonia. Bernice Williams. 41. 1717 North Pennsylvania. angina pectoris Helen E. Linn. 55. 1034 North Keystone, coronary thrombosis. Ruby D. Sawyer. 69, 2521 Brookside Parkway, coronary thrombosis. Louise Thomas. 57. 15 Karcher. cerebral hemorrhage. Fred Barnes. 43. Central hospital, pulmonary tuberculosis. Cecil Corder. 8, Twenty-fourth and Fall Creek, drowning. Plumbing Permits Kirkhoff-Wolflng, 28 West Washington, four fixtures. P A. Jones. 5544 East Washington, five fixtures. C. Van Meter, 5320 North Meridian, twenty-five fixtures. Ray BUuaeet, 1005 South Meridian, three datum,

Market Average mam Twenty Active Issues Listed on the N. Y. Stock Exchange.

Bright Spots

(By Abbott, Hoppin <fc Cos.) American Commercial Alcohol Company in December quarter earned $3.72 a common share against 93 cents in the like period a year ago. Factory sales of automobiles during January totaled 161,006 units against 84,152 in December and 130,087 in January, 1933. Swift & Cos. declared the regular quarterly dividend of 12% cents a share on tlie common stock. Domestic and foreign crude oil output in week ended Feb. 17 was 341,157.000 barrels, an increase of 526,000 barrels over the previous week. Canadian car loadings in week ended Feb 23 were 40,952, against 35,897 in the like 1933 week. Midland Steel Products Company In 1933 earned $.!)4 a share on the 6 per cent cumulative first preferred stock against a net loss of $221,295 in 1932. American Home Products Corporation declared the regular monthly dividend of 20 cents a common share. Reading Company. January net operating income totaled $1,426,700, against $602,008 in January of 1933. Brokers’ loans in week ended Feb. 21 increased $97,000,000; nonbrokers’ loans decreased $2,000,000. Radio Corporation December quarter net profit was $1,211,277 after charges, against net loss ot $540,863 in the like quarter a year ago; net loss in 1933 was $582,093, against $1,133,585 in 1932. Servel and subsidiaries report for quarter ended Jan 31 shows a net loss of $160,888 after charges against $140,799 in like period last year.

TWO QUESTIONED IN SHOOTING AFFRAY Victim Reported in Critical Condition. Police today were probing the shooting of Basil Longest, 38, of 3807 East Fourteenth street, in a quarrel yesterday in the Ripple Club, alleged gambling resort, 102 1 2 South Illinois street. Charles Burke, 39, of 2322 West Walnut, street, is held on a charge of assault and battery with intent to kill, Miss Marie Moore, 29, of 2207 East New York streer, also is held on a vagrancy charge in connection with the shooting. Longest is in the city hospital in critical condition. Fire Reports Saturday, Feb. 21 7:22 a. m., 1726 Carrollton avenue, residence. SSO. 8:18 a. m., 1845 South Keystone avenue, residence, small loss. 8;43 a. m.. 430 South Harding street, coal office, small loss. 9:23 a. m., 1431 West Twnty-second street, residence. S6OO. 9:57 a. m., 2535 Shriver avenue, automobile. small loss. 10:35 a. m.. 909 West ’.'wentv-ninth street, residence, small loss. 10:42 a. m., 1072 River Avenue, residence, small loss. 10:55 a. m., 5961 Oak avenue, residence. SIOO. 12:03 p. m , 2528 Central avenue, residence. SI,OOO. 12:42 p. m., 209 North Keystone avenue, residence, no loss. 1:47 p. m.. West Forty-sixth street and High School road, residence. $3,500. 2 00 p. m.. 1157 Shelby street, apartment, small loss. 2:17 p m.. 1100 South Pennsylvania street. faLse alarm. 2:45 p. m.. 1252 Madisjn avenue residence. SSOO. 2:50 p. m.. 4040 College avenue, residence, small loss. 4:15 p. m., 540 Stevens street, residence, small loss. 4:23 p. m., 624 Allegheny street, residence, small loss. 6:01 p. m., R. R. 28. Box 11, residence, small loss. 6:21 p. m., 912 Ft. Wayne avenue, lunch car. small loss. 8:10 p. m., 1402 North Alabama street, false alarm. 11:21 p. m., 500 West Tenth street, automobile, small loss. Sunday, Feb. 25 1:26 a. m.. Garstang avenue and Big Four railroad, office building. 52.000. 2:24 a. m.. West Thirtieth and Ethel streets, accident. 9:04 a. m.. 621 South New Jersey street, residence, small loss. 10:20 a. m . 5:37 Douglass street, residence, SIOO. 10:26 a. m.. 337 West McCarty street, automobile, small loss. 12:44 p. m., 401 East Michigan street, club house, smal loss. 1:34 p. m. 1134 Beacon street, residence small loss. 3:55 p. m., 200 West Forty-first street, false alarm. The female hornbill moults her feathers while sealed inside a hollow j tree.

Abbott, Hoppin & Company 203 Continental Bank Building Riley 5491 Indianapolis pS2g£ h MEMBERS: New York Stock Exchange Chicago Board of Trade New York Curb Excnange Chicago Stock Exchange New York Cotton Exchange Chicago Curb Exchange New York Produce Exchange Commodity Exchange. Inc. New York Coffee and Sugar Excnange, Inc. Chicago Mercantile Exchange Co-Managers James T. Hamill Kenneth K. Woolling

GRAIN FUTURES TURN WEAK IN LIGHTSESSION Cotton and Stocks Create Further Selling; All Months Lower. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Feb. 26—General precipitation over the western and southern portions of the wheat belt encouraged sellers at the opening of the Board of Trade today and wheat futures were lower, off % to % cent. Corn followed the example of wheat and sold off % cent, while oats were % to % cent lower. Cotton and stocks were lower and provided further selling impetus. Chicago Primary Receipts —Feb. 24 —Bushels—- .... . Today. Last week. Wheat 323 000 433.000 Corn 557.000 631,000 Oats 224,000 202,000 Chicago Futures Range WHEAT— ~ Feb ' prpv High. Low. 10 00. close. May 87'. .86% ,87'. .87% July .85% .85% .85% .85% Sept 86% .86% .86% .86% CORN— May 50% .50% .50% .50% July 52% .52% .52% .52% Sept 54% .54% .54% .54% OATS— May 34% .34% .34% .34% July 34% .34% .34% .34% Sept 34 .33% .33% .34% RYE— May .60% .60% .60' 2 .60% July 62 .61% .61% .61% Sept ..... 63 •BARLEY— May —... .47% July ......X ..... ..... 48% CHICAGO CASH GRAIN By United Press CHICAGO. Feb. 24.—Wheat—No. 5 red. 82%c. Corn—No. 2 mixed, 49%c (old): No. 2. mixed new. 47c: No. 2 yellow, 48%®49c; No. 3 yellow. 47%®48%c; No. 4 yellow. 47%c: No. 2 white, new 49%c: No. 2 old. white 51c: No. 3 white. 49c; white old 50c; No. 4 white. 48®48%c; No. 5 white, 47%c: sample grade white. 40c. Oats—No. 2 white. 35%®36%c; No. 3 white. 35c. Rye —No Sales. Barley—43®7Bc; Quotable. 43 ®Boc. Clover Seed—sll® 14. Timothy—s7.2s®7.so. Cash Provisions—Lard. $6.50; loose. $6; leaf. $6.25; S. Bellies. SB. TOLEDO CASH GRAIN By United Press TOLEDO. Feb. 24.—(Grain in elevators transit billing)—Wheat No. 2 red. 91 %® 92%c. Corn—No. 2 yellow. 54®55c. Oats —No. 2 white. 39%®40%c. Rye—No. 2, 67%®68%c. (Track prices. 28%c rate). Wheat—No. 1 red. 88®88%c: No. 2 red. 87 ®B7%c. Corn—No. 2 velfow. 49%'®50%c; No. 3 yellow. 48®49c; No. 4 yellow. 46%® 3 white. 35%®37%c. Toledo seed close: 47%c. Oats—No 2 white. 36%®38%c: No. Clover—March. $8.25. Alsice—Cash. $8.50. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 79 cents for No. 2 soft red wheat, other grades on their merits. NEW YORK RAW SUGAR FUTURES —Feb. 24 High Low Close January 1.76 March 1 60 1.58 1 60 May 1.62 1.60 1.62 July 1.66 1 64 1 66 September 1.70 1.67 1.70 December 1.75 1.73 1.74 UNITED STATES AUTO SALES GAIN FOR 1934 Factory Purchased Vehicles Total 161,006 for January. By United Press WASHINGTON. Feb. 26.—January factory sales of automobiles manufactured in the United States were reported today by the census bureau as 161.006 vehicles compared with 84,152 vehicles in December, 130,087 in January, 1933, and 119,344 in January, 1932. Os the sales, 115,956 were passenger cars, 44,729 trucks and 321 taxicabs. Os the 120 manufacturers shown in previous reports, seven discontinued business in 1933 while six manufacturers have been added to the list. KE R VAN ENTERS RACE Former C ommissioner Seeks Second District Nomination. Announcement of his candidacy for county commissioner from the Second district has been made by James Kervan, 3240 Ruckle street, employe of the city park board. Mr. Kervan served as a commissioner from 1910 to 1916, and was custodian of the public library from 1921 to 1925. PLAN STAMP AUCTION Sale WII Be Held at Lockerbie Meeting Friday. A stamp auction will be held at the meeting of the Indiana Stamp Club in the Lockerbie at 8 Friday, it was announced today by Dr. F. Tulley Hallam, secretary. Alleged Sluggers Arrested Traced by footsteps in the snow, two Negroes accused of slugging Charles Troy, 30, of 541 West Merrill street, with a brick, were arrested last night. They gave their names as George Hodges, 34, and James Copeland, 20, living in a shack on White river banks.

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