Indianapolis Times, Volume 45, Number 254, Indianapolis, Marion County, 3 March 1934 — Page 12

PAGE 12

Senate Boes to Bat for Stockholders —Proposes Big Income Tax on Salaries Over $75,000. BY RALPH HENDERSHOI

Timet Special Financial Writer The salaries and bonuses just revealed by the federal trade commission as having been paid to corporate executives during even the worst of the depression are likely to give stockholders of those corporations something to think about. They are likely to wonder whether the directors they have been voting for all these years have been interested in their own or the shareholders’ interests. No one will question the right of officials of large corporations to receive salaries commensurate with their ability and responsibility, but why excessive salaries and bonuses should be paid in times of business depressions, when stockholders are getting little or nothing on their

investments, is difficult to understand. And even stranger is the fact that in almost every instance 'tockholders had not heretofore been appraised of the amounts being paid to those running their companies. These revelations constitute further evidence that too many corporations are run for the benefit of inside groups in control. Directors vote large salaries for key men in the management, and these men. in turn, do pedal favors for directors, such as handing over to them favorable agreements for the underwriting of securities. nan May Get Help From Senate Unfortunately stockholders have been unable to exert any influence over the companies they own. This is because they are scattered all over the country and have no way of establishing communication with one another. They are given proxies to fill out for the elec'ion of directors and other important matters, but they have little or no knowledge of the people or things for which they vote. They are in the same

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Ralph Hendershot

position as the owners of guaranteed mortgage certificates in that respect. A bill was introduced into the senate recently which may help indirect lv. It provides for a tax of SO per cent on all salaries in excess of $75,000. It constitutes a roundabout way of handling the situation, but it probably will be effective in stopping excessive salary payments, even though it fails to yield much in the way of taxes. a a a ana Stock Market Regulation Richard Whitney, president of the New York Stock Exchange, made the statement recently before the senate banking committee that any attempt to regulate by statute and in minute detail the operation of security markets is impossible of accomplishment.’ Mr. Whitney has advanced many important and telling arguments against the FletcherRayburn bill to regulate stock exchanges, but it is questionable whether the foregoing should be listed as one of them. From all indications, the provisions of the bill tend to regulate the exchanges all too well. In fact, it might be compared to a strait jacket in effectiveness. Perhaps Mr. Whitney has a different interpretation foi the word •’regulate" than the framers of the measure, however. He has made the point that the bill seeks to turn over to the federal trade commission the job of operating and managing the exchanges rather than regulating them. At any rate, the exchange head is putting up a real fight to defeat the bill, and it may be said that consequently he is more popular in Wall Street today than he has been for a long time.

New York Stocks

—March 3 Oils— Prev - High. Low. Close, close. Amerada o *-j' 4 *:)’ a All Rfg 32*2 32 32 32 Bamsdall *> 8 t 84 8 Consol Oil .... 13'4 13 13 4 1 ' Cont of Del .... 19't 18 4 18 l3 Houston 1 newt -A, 4 Houston toldt.. • f” fr 2 Mid Cont Pet 13 12 t 12 4 13 Ohio Oil H' <> J*! 2 }* 2 Pet Corp 12 7 h 12‘ Phillips Pet IT4 I*. J 4, 4 Pure Oil 13 j 8 12 2 4 1- t 13 4 Sbd OH 36 3 4 36 36% 36 a Skellev Oil 10% 10 JO. 4 J? 4 Soc Vac I" 3 - 4 1' 4 *’, 4 ” 2 SO of Cal 39’ s 39 % SO of Kan • 33 a ... SOof N J 4"*4 46% 46’" 4. Texas Corp 27% 27% 27_* 27 Tidewater Assn., 11** H 4 JJ 2 J*, 2 Un Oil of Cal .. 18 3 18'4 18'i 18V* Am* RcdT”Mills... 26'8 25% 25'’ 25’* Beth Steel 46 1 .. 45% 46 * 46 Bvers A M 29 28% 28'4 29 Col Fuel A Iron. 7 7 * 7'4 7'4 8% Cruc Steel 35’* 33' 2 35'2 353a Gulf Sts Steel .. 41 40', 40'4 40' 2 Inland Steel .... 47 46'* 46' 2 46 Ludlum Steel .. 18% 18 18' 4 18'2 McKeesport Tin. . 90 89’ 8 Natl Steel . . 52' 2 Si's 51'2 52 Rep Iron & Steel 24'2 23% 24'a 24'a Rep Ir A- Stl pf 66'2 65 65' 2 66% U S Smelt 124-4 121 123>2 122' 2 Vanadium 29% 28-2 28’2 29' 4 Mid Steel 20 19% 19% 19\ Shell Un 11 10% 11 10% U S Pipe & Fdy. 29’ 8 29' 29'a 29% U S Steel 56'2 55'* 55% 56 U S Steel pfd. 94 93>2 93-2 93% Youngstn S & T 31' 4 30' 4 30% 30 e Rails— Atchison 68 67' 2 67% 67’4 Atl Cst Line . 50 49 % BA O 31% 31 31 31 Can Pac 16% 16 16% 16% Ch & Ohio 44’s 44’* 44’s 44' 4 Chi & Gt W 4% 4' 2 C M * St P ... 7-s 7 7> 6 3 4 CMA St P pfd ll 1 * 11 11'* IP* Chi N W 14 13 1 * 13*2 13’* Chi R Isl s's 5 Chi R I 7', pfd. . . ... B*4 7’ a Dela A Hud ... 66% 65’* 66 66 Erie 22 >2 22 22 3 * 22 Grt Northern pf 29'* 28% 28 s * 28 s * 111 Central 35 34 34 3 * 34' 4 K C Sou 16’ 4 . Lou A: Nash ... ... 56 M K & T 12 3 4 12’ 4 12* 4 12' 2 Mo Pac . Mo Pac pfd 8 7’a 8 7 3 4 N Y Cent 39 3 4 39 39 39's N Y Chi A St L 21'2 N Y C A St I, pf . . 31 3 4 31'2 N Y New Haven. 20 19 5 s 19’a 19’a N Y Ont A Wes 10 4 10' 8 Norfolk A Wes. ... 173 172 Nor Pac 31’ 31 31'2 31% Penn R R 35% 35' 4 35% 35 s * Reading 53 Sou Pac 29’a 29'* 29'a 29’j Sou R R 32 3 4 32'4 32 s * 32' 4 Sou R R pfd ...33 3 4 36'2 36% 36% Union Pac ... 129 129'4 Wabash ... 4'a .. ■ West Maryl .... 15’* 15'4 15'2 15% Motors — Auburn 54' 4 53 4 53'4 54% Chrysler 57' 4 56'2 56 s * 56’a Gen Motors 39’a 39 3 * 39'2 39’* Graham Mot . . 4'* 4'* 4% 4'a Hudson .21'* 20’, 20’* 20’* Hupp 6', 6'a 6' 4 6', Mack Truck .... ... 36 35’* Nash 28 37% 27% 27’, Packard 6‘* s’* s’* 5 3 4 Reo s', 5 5 5 Studebaker B', 8 8 8 Yellow Truck .. 6>2 6 3 6’* 6% Motor Access— Bendix 20' 19*4 19’, 20 Bohn Alum .... 62’, 62 62 62'* Borg Warner .. 26'4 26 26 26 Briggs 16% 16', 16-’a 16'2 Budd Wheel . 4'a 4'2 4'* 4' 2 Eaton Mfg Il'a 21 21’* 21', Elect Auto Lite 30'2 30 30' a 30' 2 Kels Haves Whl 6', 6' 6' 6’a Mullins Mfg .. 13’a 12’a 12’s 12’, Murray Body ... 10 4 10', 10% 10'* Stew Warner .. 10 9’, 10 10 Timken Rol .... 37 3 4 37 37'g 38 Minins— Alaska Jun 20 5 20 20'* 20' 2 Am Smelt 46'* 45'* 46'* 40'2 Ar.aconda .. 15*, 15', 15'4 15% Cal A Hecla ... 5'2 5 3 5% s', Cerro De Pasco 36', 35 35', 36 Granby 11% ll 3 * ll's ll 3 * Grt Nor Ore ... 13* 13 3 , Homestake Min. . ... ... 330 Howe Sound 48', 46'* 48', 46 Ins Copper ... . .. 5% 5 3, 4 Int Nickel .... 24 23’* 24 23’* Isl Creek Coal .. 27 Kennecc:; Cep... 20 3 * 19’* 20', 19’* Noranda Cop 37% 36’* 37'* 37 Phelps Dodge.... 17', 17 17'* 17 Tobaceos — Am Snuff ... 54-2 54'* 54'2 54 Am Sum Tcb ... 19 19'* Am Tob A . ... 71 3 ,7 P, 71% TP, Am Tob B 73'i 73'* 73', 73', Lig A Mvr B> 87 S6'2 86'2 87 Lorrillard . 17 3 , 17', 17% 17' 2 Reynolds 7 Bi 41 3 4 41 ’ * 41'2 41'4

tquipmenis— Allis Chi hr. rs.. 21 2P' 20 7 * 20's Am Car .v Fdy.. 30 28’i 30 30 Am Loco . 36;-' 36 Am Mach A Fdv 17*2 17'* ... Am S'po. Key.. 22 • a s * 22 s * Bald Lcco H l i 13 * 14 13 s * Bur roue'is 16-'4 16 5 16 5 * 1 1 Case J 77’s 76*, 76’, 76*, Cater Tract.... 30' 2 30 30’.- 30 Colgat P..lm Pi.. 17 s * 16>, 16 s * ... Concoleum 29 >2 29'. 29-.- . E! Stor 3at 47 s * 47' 2 47 s , 48 Foster Wheeler . 19’. Gen Am Tk Car 42 42 42', 42 Gen Elec . 23 22'* 22 s * 22 s . Gen R R S.g 45 s , 44' 3 44 5 . 45 Ingsol Rand <0 6.'2 Ist Bus Mach ... . . 144 Xnt Harvester.. 42’* 42 42 s * 4*' 2 Kelvsnator .... 20 s , 20', 20 s * 20 s , Natl Cash Res . 21 20'a 20 s . 20 s * Proc & Gamble. 38', J* 1 . 38 s . 38', Pullman Inc ... 58 56 s . 56 s . 57 Simmons Bed 20’, 20' 2 20'.- 20'. Und Elliot 47 46 s . 46 s , 46 s . West Air B ... 32’a 32_ 32 313* Westingh Elec 41’* 40"* 41 41 7 , Worthington Pmp 27 s . 27 27 27 s . rtilities — Am A- For Par . 10 7 10' 2 10 s . 10'* Am Po & Lit.. 10 s * 10 10', 9 s . AT&T. 121> 2 121 121's 122 Am Wat Wks 21’i 21-S 21'; 21 s , Brook Un Gas .. . 74 Col Gas A- E'ec. 16 s , 15 s , IS-, Col G& E pfd 75 74 74 74 Com & Sou 3 . * 2 4 * Consol Gas 40„ 4040 40'. E'ec Par & Lit ”, > s , <♦ EP&Lpfd 15’. 15 15', 15 Int TANARUS& T 1" 14>* 14'a 14 s , Nat Pr A- Lit 12 . 12>. 12'* 12 North Amer 20 s , 19 , 20, *o‘* Pac G& E 20'. 20 . Pub serv N J 35'. 39 39 39'-. So Cal Edison 19's 17 s * 18 s * 19 Std Gas 14'. 13'- 13 1 j 13 7 , Std Gas pfd • 13' 2 13 s . United Corp .. • •’ < •’ Un Gas Imp ... I*N I*S I<* l s Ut Pwr & Lit A. 4', 4 4 4 1 , Western Union.. 57 7 , 56'. S6S 57 5 , Robber,— Firestone ...... 23', 22 s , 22 5 , 22'j Goodrich £*!• *** l* 1 - GoocLjear ...... 39V, 39V 36 s . 36'.,

Wall Street

U S Rubber 20% 19', 20'* 19*, U S Rubber pfd. 45% 44% 45> 44', Kel Spring . .. 3’, 3% 3*a 3’, Amusements— Croslev Radio .. 12’* 12’ 4 12’a 12’ 4 Fox Thea 15*, 15% 15'.-a 15'a Loews Inc 32’* 32'* 32'* 32% Radio Corp .... B'2 B', 8% B'2 RKO 4 3’* 3’a 3% Warner Bros .. .. ... 7V* 7% Foods— Am Sugar 54'a 54 Armour (Ai ... 6'a 6'* Beatrice Cream y . . . . 15’* 15*4 Borden Prod .. 24 23 3 , 23’, 23 * Cal Packing . .. 26% 26 26 25% Canada Dry G A 25% 25% 25'2 25 1 Coca Cola 107"a 106% 106’* ... Cont Bak IAI.. .. ... ... 12 1 2 Corn Prod 74 73% Crm of Wheat... 33'2 33'2 Gen Foods ... 33% 33% 39' 2 33 3 , Gold Dust 20' R 20 20 19 3 * G W Sugar. 29'2 29', 29', 29 Hershev ... 53 52 3 , Int Salt 24 1 2 24’* 24V* 24 Loose Wiles ... 41' 2 42 Natl Biscuit 41 ’* 41 4P, 41% Natl D Prod 16’* 16 16% 16 Purity Bak 1614 S Porto Rico S . ... 33*4 34 Std Brands 22 3 4 22'* 22’ = 22'b United Fruit 65 64'2 Wrigley 59% 58 3 , Retail Stores— Asso Dry Goods 17' 2 17 17 17 Best A Cos 31'2 31'/* 31'a 31 Gimbel Bros 51* 5*4 Gimbel pfd 28'a Gr Un Tea 7', 7% Hahn Dept Sts.. 7% 7 3 4 7% 71* Jewel Tea ... 45 ... Kresge S 8 20> 2 20'* 20', 20'2 Kroger Groc ... 31 30’a 30’* 30% Macy R H 55', 54', 54' 4 55 May Dept St . 40 39% Mont Ward .... 32‘4 32'* 32% 32'2 Penny J C 67’, 66’* 67 66 Safeway St .... 53% 53 53 53** Sears Roebuck.. 48’, 48 48'* 47% Woolworth 52 7 a 51 51 52 Aviation— Aviation Corp .. 8' 2 B', B', 8 3 * Douglass Air ... 24'a 23 23 1 * 23 3 8 Curtiss Wright.. 4' 4 4'* 4', 4'a Curtiss Wr A... 10', 9’ s 10 10’* Nor Am Av 6'a 5% 6 6'/* United Aircraft. 25% 25 3 * 25 3 * 25' 2 Chemicals— Air Reduction 100 Allied Chem ... 154 154 Am Com Alcohol 53', 52 * i 52 s .* 52'2 Col Carbon 63 3 , 68 68 *■* 67’, Com Solvents .. 28'* 28', 28', 28% Dupont 101 100 100 100% Freeport Tex 47 46’a Liquid Carb 28 3 a 28 Math Alali 36’, 3633 3 , 36'* Tex Gulf Sulph. 39'a 39 39 38% Union Carbide.. 46’a 45’2 45’a 46’, U S Ind Alcohol ... 54' a 54*4 Natl Dist tnew 1 27’a 27% 27' 4 27's Drugs— Cory Inc 7’, 7* 7’, 7', Lambert 28', 27 7 9 28 27% Lehn A Fink .. ... 19 3 ,, Zonite Prod 7' s 7 7 7 Financial— Adams Exp .. . 10’a 9’a 9’* 10 Allegheny Corp. 4'2 4'a 4** 4'a Chesa Corp ... 41'2 41V, 41‘4 41'2 Transamerica ..7', 7 7 7', Tr Conti Corp... s*a 5' 2 s*a s’* Building— Am Radiator ... 15*b 15’* 15% 15'a Gen Asphalt ... 19'2 19*4 19' 2 19' 8 Int Cement .... 31*, 31 31' a 31 Johns Manville . 58’* 58 58'a 58k Libbv Owens Gls 39 38'2 38'2 38'* Otis Elev 17' 2 Ulen Const ... ... 3 Miscellaneous— Am Bank Note .. ... 10'2 Am Can 103' a 102’, 103'2 103’r Anchor Cap ... ... 21*4 Brklvn Man Tr . . 32% 32', Conti Can 79', 79 79 79 Eastman Kodak 91', Owens Bottle .. 88 Gillette IP, 11% 11*4 ll*a Glidden 23% 23 23'a 23'., Gotham Silk IP, 10’* 10’ 4 9’a Indtis Ravon 85’, 85'. 85’, 84’, Inter Rapid Tr 9’a 9% 9 9’* New York Curb Bv Abbott. Hoppin A Cos. —March 3 Close Close. Allied Mills 3- Ford of Can A 29% Alum Cos of Am "P, Glen Alden Coal 19'* Am Cyanide B. 18% Gulf Oil of Pa 72 Am AFP War 7 Hiram Walker . 49 Am C. A E 1... 26% Hud Bay Min.. IP, Am iiperpowcr. 3% Humble Oil .. 42 Ass G A El .. P, Imp Oil Ltd .. 14 Atlas Corn 13', Int Petrol ... 22', Ax Fisher Tob. 65' ■ Lake Sh Min . 46'2 Can Ind Me A lfi'< Lone Star Gas. 7', Can Marc . 3-’, Natl Bp!1 Hess. 3'* Carrier Corp 7'* Newmont Min . 53'2 Cities Serv . . 3' 4 Nia Hud Pwr.. 7’* Con G of Balt 61 3 4Novadel Agene.. 67 Cord Corp . 7 Park Davis .... 24’* Creole Petrol ll 3 * Penn Road 3* e Crown Cork Int 6k St Regis Paper 4 Deere A Cos .. 31'2 Sherwin Wms . 61'4 Distillers Lim . 22’* Std of Ind . . 28% Distillers Corp 20 Std of Kv 16'a Dow Chem ..72 Teck Hugh Gold 6> a El Bnd A Sh.. 18’, Un Pwr A Lt A 4 Fish Rubber .. 19 3 * Wrght Har Min B'-

Investment Trust Shares

IBv Abbott. Hoppm & Cos * - March 3 Bid Ask. American Bank Stocks Corp. .. 118 120 Amer & Gen Sec <AI 500 700 Amer & Inv Tr Sh . 1,75 2 50 Basic Industry Shares 3 68 Britich Type Inv Tr Sh . 65 75 Collateral Trustee Sh tAi 487 500 Corporate Trust Sh ioldi ... 220 223 Corporate Trust Sh mew> 250 253 Cumulative Tr Shares ... 428 432 Diversified Trust Sh IAI 625 Diversified Trust Sh iß> 8 35 8 60 Diversified Trust Sh iC> 331 336 Diversified Trust Sh ID' 5 0 5.10 First Insurance Stock Corp 130 135 First Common Stock Corp ... 90 107 Fixed Trust Oil Shares <AI... 9 12 937 Fixed Trust Oil Sh iß' 8 00 225 Inc Investors 19.00 20.25 Low Priced Shares 650 662 Mass Inv Trust Sh 19.37 20 00 Nation Wide Securities 3 55 360 No Amer Trust Sh 51- .. .194 i9B No Am Trust Sh 155-56 1 ... 2 50 2 54 Selected Cumulative Income.. 125 130 Selected Amer Shares 325 Selected Cumulative Shares 7.12 Selected Income Share* 350 375 Std Amer Tr Shares iA>... . 312 318 Trust Shares of Amer 2 96 3 00 Trustee Std Oil iA> 587 600 tee Std O' B • ... 550 575 U S Flee Lt & Par. .12 2 13 00 Universal Trust Shares 320 3 26 Fire Reports Friday 448 p. m 1626 East Washington, residence. no loss 5 06 p. m . 218 West Eleventh, residence, no loss 520 p m.. 724 North Gladstone, residence. no loss. 6:54 p. m . 649 Rochester, residence. *l5O. 10 34 p. m.. 933 West New York, poolroom, tpO.

PROFIT-TAKING TURNS SECURITY LIST IRREGULAR Most Groups Dip From Highs After Early Advance: News Ignored.

Average Stock Prices

Average of thirty industrials ior yesterday were 103.81 high, 101.93 low. 103.18 last, up 28. Average of twenty rails. 47 79 48 86 47.57. off 23. Average of twenty utilities 26.59. 25 88. 26 32 off 13 Average of forty bonds 91.52, off 09. Average of ten first rails 97.50, up 16. Average of ten second rails 81.14. off 32 Average of t<>n utilities 94 82. up 09. Average of ten industrials 92 61. off 14. BY ELMER C. WALZKR United Press financial Editor NEW YORK, March 3.—Stocks were irregular in a narrow range in the short session on the Stock Exchange today. The list opened firm and later all groups extended yesterday's gains. Profit-taking near the close brought leaders down from the highs and many dipped below the previous close. Mercantile shares were strong on improvement reported from both retail and wholesale sectors. J. C. Penney made its customary daily high at 67 7 s up 2', points. Sears Roebuck firmed more than a point and Montgomery Ward was steady. Sears Roebuck for the year ended Jan. 29 earned net profit of $11,249.295. against a net loss of $2,543,651 in the preceding year. Silver Issues Firm A feature of the news was increased demand for locomotives. Delaware, Lackawanna was reported in the market for twenty to thirty, and many other lines were said to be ready to order in the near future. The rail equipments firmed with General Railway Signal common making a new' high for the year. The preferred, however. broke 5 points. Silver issues firmed near the close on word from Washington the house subcommittee on silver plans to report to the full committee a bill providing government purchase of up to $1,500,000,000 of foreign silver which will be exchanged for American agricultural surplus products. Automobile issues were active, especially Packard which' held around the previous close. Graham Page was bid up a point. General Motors closed at 394, up while Chrysler closed at 56 r, fe, off 4 from the previous close. Other steel issues were around the previous close. Sales Volume Light American Telephone closed at 1214, off 4 point from the previous close, but up a point from the day's low. Western Union dipped from 574 to 564 and closed at 5645, off 1 point for the day. Stock sales today approximated 800.000 shares against 1.223,000 shares last Saturday. Curb sales were 233,000 shares against 220,000 shares Saturday. Dow Jones preliminary averages showed industrial, 105.56, off 0.23; railroad 49.22, up 0.03; utility 26.93. off 0.15.

Bank Clearings

TREASURY STATEMENT By United Press WASHINGTON, March 3.—Government expenses and receipts of the current fiscal year to March 1, compared with the corresponding period of the previous fiscal year: . This Year. Last Year. Expenses $4,255,974,395.13 $3,373,645,754.25 Receipts. 1.894.137.036.63 7.254.201,786.65 Deficit... 2 361.837.358.50 2,119,443,967.60 Cash bal. 4,896,767.194.78 MRS. KESTER SUCCUMBS Widely Known City Pianist Dies at Rockville Road Home. Funeral services for Mrs. Minnie Kester, 77, who died yesterday at her home on the Rockville road, will be held in the Conkle funeral home at 1:30 Monday. Burial will be in Washington Park cemetery. Mrs. Kester had been known as a pianist in Indianapolis a number of years. She was a member of the German Luthern church. Surviving her are the widower, George J. Kester: a son. William Rae Kester. and a sister, Mrs. Bertha Rossfelt, Middletown, O

Indiana News in Brief a a a a a a ana Interesting Stories About Events in Lives of Hoosiers Written and Assembled for Quick and Easy Reading-.

By Times Special Bloomington. March 3.—william F. McGee, former Bloomington man and son of a former Monroe county school superintendent. who died Monday in obscurity, in New York, made his last visit here in 1924. With his actress wife, Louise Groody. now divorced, he was traveling in a special car on the Monon railroad. Asked to provide funds for burial of the body. Miss Groody. now in Chicago, declared: “I haven't seen him for eight j years. His family has plenty of money. Let them bury him." McGee, who recently had been using an assumed name, was identified following his death, by fingerprints, memento of his criminal record. Asa result of a "bucket shop” prosecution in New York. McGee and his partner. Edward M. Fuller, were given prison terms in 1927. a a a Gas Well Completed A gas well with a daily output of 6.000.000 cubic feet and two oil wells with a daily production total of thirty barrels were completed in Indiana during February, according to a report of drilling operations by J. P. Kerr, state gas supervisor. Drilling of the gas well, which in Pike county, was completed at 1,037 feet. Both oil wells are in Vanderburgh county, one of twenty-five barrels output, the other five. tr no Club to Aid Children By Timet special SHELBYVILLE. March 3.—Following information that during recent cold weather many children were absent from school because of and coats, the -Shelbyviile Kiwams

THE INDIANAPOLIS TIMES

Chicago Stocks " 1 " Bv Abbott Hoonir Si Cos

TOTAL SALES. 2 non SHARES March 3 High. Low Close Acme Steel Cos 40 Allied Products .. 184 Am Pub Serv pfd 9% 9 94 Associated T <4: Tel <Ai .. ... 9 3 Assoc Tel Util iAt pfd Bastaln-Blessing 7 s * Bendix Aviation . ... 20' 20 20 Borg-Warner .. 264 25' 26' Borg-Warner. pfd ... 194 Bright Star Elec ißi 4 Brown Fence & W ißi .. ... 44 E L Bruce Cos ... 15 Bucyrus-Monighan Cos.. ... 13 Butler Bros 114 114 114 Central Cold Storage .7 5 7 Cent 111 Pub Serv pfd 184 184 134 Chi & Northwestern .. 134 Chicago Corp com . 3 4 3 4 34 Chicago Flexible Shaft.. . ... 10 Cities Service 34 34 34 Club Aluminum 4 Commonwealth Ed ... 55 Cord Corp 7 64 64 Crane Cos 94 94 94 Dexter Cos ... 5 Electric Household 13 General Candy Corp... . ... 4 4 Godchaux )B> 9 4 9 9 4 Goldblatt Bros ... 164 Great Lakes Aircraft 1 Houdaille-Hershey ■B■ . . 64 64 6 Interstate Power V... ... 154 Iron Fireman 12 114 12 Libbv-McNeil 54 Lincoln Printing ... 4 Loudon acking ... 20 Marshall Field 174 174 174 Middle West Utilities .. 4 4 4 Midland Util 7', iAi p .. .. 14 No Amer Light & Pwr.. 34 3 34 Oshkosh Overall 54 5 54 Parker Pen ... 6 Pines Winterfront 14 Potter Cos 5 4 5>4 54 Public Service N P. .. 20 4 20 20 4 Public Service 74 pfd.... ... 70 Quaker Oats ... 1164 Quaker Oats, pfd ... 121 Reliance Mfg Cos ... 164 Sears Roebunck ... 484 Swift & Cos 174 Swift Internacional .... 274 27 274 Thompson. JR ... 94 U S Gypsum. com ... 434 Utah Radio 2 14 2 Utility & Ind 14 Utility & Ind pfd .... 44 4V4 44 Wahl 2 Walgreen Cos com .. ... 24 Zenith Radio ... 34

Bond Prices

((By Fenner & Beanei —March 3 High. Low. Close. Alleg Corp 5s 'SO 36'/., 354 354 Am & Fo Pwr 5s 2030. . 504 504 504 A T & T db 5s '65 107 Atchison Gen 4s '95 ... 99 4 98 4 99 4 B&O cv 44s ’6O . . . 704 70 704 Beth Steel 5s A '42 1064 Brazil 64s c 26 1 ’57 304 Can Pac 4s ’57 774 774 774 C M St P & P 5s A 2000 204 194 194 C M St P & P rs 5s A'7s 514 514 514 Cons Gas N Y 44s 51 984 Denmark 54s ’55 ... 934 Erie R R. rs 5s ’67 71 4 714 71 4 French 7s ’49 1704 170 170' 4 Goodyear 5s 57 95 4 94 4 944 Gt Nor 4' 2 s D '76 44 Gt Nor 7s A '36 954 944 954 Interboro R T 5s 66 . 70 4 70 4 70 4 Int T & T db 5s ’53 ... 62 614 62 Lorillard 7s 44 . 1154 McKess & Robb 54s 'SO 704 70 704 Nat Dairy db 54s ’4B .. 884 88 884 N Y Cent 5s O 2013.... 73 4 73 4 734 Nor Am 5s '6l ... 80 Pac Gas & El 5s A '42.105 1044 105 Para Pub 54s ’SO 484 48 48 Penn R R ... 93 Poland 7s '47 974 974 974 Royal Dutch 4s A 43 ... 139 Shell Un Oil 5s '47 98 Sin Cons 64s B '3B .1034 1034 1034 Texas Corp 5s '44 1004 100 100 4 Tob Pr N J 64s 202 : 105 Un Pac Ist 4s '47 102 4 102 102 U S Rubber 5s A '47 ... 80 79 794 Vanadium 5s '4l ... 81 Ystw’n SAcT 5s B 70. RS4 86 4 86 4

U. S. Government Bonds

?/ United Press NEW YORK. March 3.—Closing liberties. (Decimals represent, thirty-secondsi Liberty 3' 2 s (32-47) 102.1 First 4Us (32-47) 102.19 Fourth 4 1 1 s (33-38) 103.1 Treasury 4 1 I s, 3Us (45) 100.5 4/4s (47-52) 108.15 3 3 n s 143-471 100.21 3 3 as (41-43) March 100.23 3’,.s (40-431 June 100.24 3'is (41) 100.8 3Us (46-49) 98.26 3s (51-55) 97.2

Federal Farm Loan Bonds

(By Blyth & Cos., Inc.i —March 3 Bid. Ask. 4s Nov. 1. 1957—37 93 94', 4* 4 s July 1, 1956—36 94 95U 4Us Jan. 1, 1957—37 94 95U 4Us May 1, 1957—37 94 95U 4 1 is Nov. 1, 1958—38 94 95U 4Us May 1. 1942—32 96U 97U 4Us Jan. 1, 1943—33 96% 97U 4Us Jan. 1, 1953—33 95 96U 4Us July 1, 1953—33 95 9SU 4Us Jan. 1, 1955—35 95 96U 4Us July 1, 1955—35 95 96U 4Us Jan. 1, 1956—36 95 96U 4 3 <4S July 1, 1953—33 96', 97U 4 3 „s Jan. 1, 1954—34 96U 97U 4%s July 1, 1954—34 96U 97U 5s May 1, 1941—31 99U 100 s , 5s Nov. 1, 1941—31 9958 100% Home Loan 4s. July 1, 1951.. . 97U 97U

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 $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 Pocahontas egg 8.25 Pocahontas forked lump 9.25 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 50c a ton for wheeling coal, and $1 a ton for coal carried to bin.

j lack of clothing, principally shoes j Club in co-operation with Mrs. A. 1 M. White, school attendance officer, jhas started a campaign for donation of clothing. School pupils will compete by classrooms in collecting clothing, and the winning room will receive a prize from the club. n ft Make NRA Suggestion | By Times Special BLOOMINGTON. March 3.—' We I urge you to endeavor to harmonize j the various codes with the teachings and spirit of Jesus Christ,” is among suggestions made to General Hugh | S. Johnson, head of the NRA, by j three members of the Reformed Presbyterian Church of Bloomingj ton. The members. Paul D. White. R. S. McElhinney and G. R. Steele, wrote to General Johnson following his recent request for criticism of the NRA. a a a Egg Goes Big By Times Special CRAWFORDSVILLE. March 3. A hen owned by Mrs. Frank Courtney has laid an egg which has an end cricumference of seven inches and is six inches in circumference at the middle. BUB Woman Given Position By 7 imes Special BLOOMINGTON. March 3.—Miss Dorothy Spencer is new attendance officer of the Bloomington schools, succeeding Mrs. Robert Huncilman who resigned. B B B Lifelong Resident Dies By Times Special LEBANON, March 3. Funerai services were held Friday for Mrsi

GRAIN FUTURES STRENGTHEN IN NARROWRANGE Scattered Selling Checks Advance: All Months Close Higher. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. March 3. Grai> prices swung erratically in a narrow range on the Board of Trade today and much of yesterday's activity was lacking. An early fractional upturn in wheat was lost when scattered selling set in. The general attitude of the professional trade was to assume a waiting attitude pending further developments at Washington. At the close wheat was unchanged to 4 cent higher, corn was 4 to 4 cent higher, and oats were 4 to 4 cent higher. The shipping demand for cash corn was much less active than earlier in the week and only fair amounts were disposed of. Oats and rye held to thin limits with trade mainly of a local character. Provisions averaged firmer on scattered buying. Chicago Futures Range —March 3 WHEAT- Prev. Open. High. Low. Close, close May... .87 4 .88 4 .874 .87'h .874 July... .87 4 .87 4 .364 .87 4 .87 Sept... .884 .884 .874 .884 .884 CORN— May... .514 .52 .514 .514 .514 July... .534 .54 534 .534 .534 Sept... .554 .554 .554 .554 .554 OATS— May... .354 .354 .354 .354 .354 July... .35 4 .35 4 .354 .354 .354 Sept... .344 .35 .344 .35 .344 RYE— May... .604 604 .604 .604 .604 July... .614 .614 .614 .614 .614 Sept... .624 .634 .62% .634 .634 BARLEY— May... .474 .48 .47 4 .48 . 474 July... .494 .494 .494 .494 .484 LARD < old! — May. . 6.40 6.40 6.35 6.35 6.35 BELLIES l old I May 7.67 7.67 BELLIES i new i May 8.35 8.35 July 8.62 8.62 Sept.. 8.85 8.85 880 8.80 8.75 LARD (new i May.. 6.87 6.92 6.37 6.90 6.85 July.. 6.95 6.97 6.92 6.95 6.90 Sept.. 7.15 7.17 7.15 7.17 7.12 CHICAGO CASH GRAIN IS if T iiitt 'I I’rriss CHICAGO, March 3.—Cash grain: Wheat—No. 5 hard. 85c: No. 5 northern. 834 c. Corn—No. 2 mixed 494 c: No. 4 mixed. 48 4c; No. 2 yellow. 444tf/50c; No. 3 yellow, 494<i< 494 c; No. 2 white. 49c. Oats—No. 2 white. 364/ 37 4c. Rye —No sales. Bariev—72c quotable; 304/ 80c. Timothy—s7,2s4/7.50. Clover Seed—sll4/ 13.65. Cash Provisions—Lard. $6.70; loose, $6.45; leaf. $6.50; S. Bellies. $8.25. TOLEDO CASH GRAIN Hu Timex Special TOLEDO, March 3.—Grain close: (Grain in elevators, transit billing;t—Wheat—No. 2 red. 924/93c. Corn—No. 2 yellow. 554/ 56c. Oats—No. 2 white, 404? 41c. Rye—No. 2. 674/68c. Track prices 284 c ratei Wheat—No. 1 red. 8844/89c; No. 2 red. 87’ 24/ 88c. Corn—No. 2 yellow, 5141514 c; No. 3 yellow. 4944 50c: No. 4 yellow, 48 4 4/49c. Oats—No. 2 white, 374/384c: No. 3 white. 364/374c. Seed Close—Clover — March. $8.25. Alsike—Cash, $8.50. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 80 cents for No. 2 soft red wheat, utner grades on their merits

CENTER TOWNSHIP IS SUED FOR $150,000 Complaint Alleges Defendant Failed to Pay Obligations. Suit against Center township demanding judgment of $150,000 was filed in superior court three yesterday by Arthur Gisler, Indianapodis. The suit is brought on behalf of more than 200 Center township resident who have provided coal, groceries and clothing amounting to $69,308.21. Mr. Gisler was assigned the claims and brings action against Center township, which, the complaint alleges, has failed to discharge its obligations. ASKS SIO,OOO DAMAGES Sues Big Four Over Railroad Crossing Death. Asking damages for the death of John Boyd, fatally injured Nov. 14, 1933. when his automobile was struck by a train at a Fowler crossing of the Big Four railroad. Ella Boyd, administratrix of his estate filed a SIO,OOO suit against the railroad company yesterday in cireuit court.

Nancy A. Storm, 71. lifelong resident of Boone county, who died of heart disease. Her husband, Samuel M. Storm, died in 1931. Mrs. Storm was a member of the Pythian Sisters, Rebekah and Royal Neighbors lodges and of the Nonpariel Club. a a a Gives 233 Pennies By Times Special GREENSBURG. March 3.—One of the donors to a fund for the aid of Carl Demaree, who lost the use of his legs in an accident more than a year ago while working on a truck, was Wallace Hyatt, who contributed 233 pennies. The coins had been saved by Mr. Hyatt during a period of several months. BBS Veteran Printer Dies By Times Special LOGANSPORT. March 3.—Funeral services were held today for Demarest Smith, 84. associated for thirty-seven years with the Smith Printing Company. He died Thursday after collapsing while at his duties a week previously. a a a Suit Asks $35,000 By United Press LAFAYETTE. March 3. Two personal injury damage suits, one for $25.000 and the other for SIO,OOO. has been filed in superior court here by Harry O. Connell and Raymond G. Hotchkiss, both of Hammond, naming as defendants the Monon. Big Four. Nickel Plate and New York Central railroads. The suit grew out of a Monon train wreck in Indianapolis March 2, 1932. Connell asks SIO,OOO and Hotchkiss. $25,000. The plaintiffs allege they were injured in a derailment of the Monon jiaain and charge that the accident ijfc jcaused by negligence of a tower Cl gnan.

Today and Tomorrow

General Johnson Proposes to Create a Scheme of Industrial Government. BY WALTER LIPFMANN

Even at the risk of qualifying as one of those critics of the NRA, who. according to General Johnson, "stand as far removed in practice" from what is going on in Washington "as a mail order and correspondence school cowboy from the sweat and effort of a Wyoming roundup.” I venture to express an opinion. It is no doubt that the blue eagle campaign last summer and the formulation of several hundred codes bear a remarkable resemblance both in the sweat and effort expended and in the general result to a Wyoming roundup. But. on the whole, it seems to me that the sweat and effort have been worth while and that the roundup of industries and the promotion of new ideals of business conduct has been a prodigious achievement. In a remarkably short time General

Johnson has organized the most individualistic business community in the world, has created instrumentalities of co-operation and control, and has won assent to the principle that industrial management is affected with the public interest. But it is one thing to organize, to create a scheme of industrial government and to obtain assent to a general principle. It is another thing to apply the principle effectively and to govern well. This can not be done, I believe, until a fundamental question of public policy has been answered clearly. ann General johnson posed the problem in his statement of Feb. 17. when he spoke of "protection against the ruinous effects of destructive competition on the one hand and against excessive prices and

discouraged efficiencies on the other.” Insofar as I have been able to observe the operation of national recovery administration, it has gone a good way toward dealing with destructive competition, but it has not yet begun seriously to deal with excessive prices and discouraged efficiencies. The effective parts of the codes are those which fix minimum conditions of labor in order to limit destructive competition in labor costs, and the rules of fair practice, which

limit cutthroat selling methods. But on the side of excessive prices the problem has not, so far as I know, been squarely stated by the official spokesman of the national recovery administration. Yet this may well prove to be the Achilles heel of the whole experiment. . Essentially the national recovery administration confronts the old “trust problem” in anew form. It invited, and in fact compels them to limit many kinds of competition and to outlaw others. The question then is how the national recovery administration is going to prevent business men from limiting all competition, from allocating production and establishing monopoly or quasi monopoly prices. This is a very serious problem and it would be trifling with realities to dismiss it on the theory that the Sherman act is still more or less in force or that General Johnson's organization can keep an eye on several hundred trade associations and prevent them from combining in restraint of trade. tt b a IN order to obtain a just view of the matter it must be recognized at the outset that NRA merely tends to accentuate a condition which existed before the NRA was created. The Sherman act did not effectively enforce competition. During the ’2os many prices of industrial goods, which should have fallen because of increased efficiency and great volume, were maintained. That resulted in a profit inflation and an insufficient distribution of purchasing power. Even during the depression many basic industries have maintained high controlled prices, and this policy undoubtedly deepened the depression. It increased the disparity between agricultural prices and manufacturing prices; by choosing to shut down rather than to reduce prices these trustified industries have forced the unemployed to bear the brunt of the readjustment. ’lt seems to me that the tendency of NRA as now conducted is to make prices more rigid. In theory is discourages only “cutthroat” competition. But in practice the distinction between cutthroat and desirable competition is difficult to make, and under NRA the distinction will be made by code authorities selected by or drawn from men whose interest it is to limit all competition. So the question is: What does the NRA propose to do to make prices fall from a monopoly level to a competitive level? Will it set up anew and much more effective machinery for enforcing the Sherman act or will it embark on the immensely difficult and dangerous experiment of attempting to regulate prices?

r T''HIS is, I believe, the heart of the problem. It is, for example the heart of the problem of a better distribution of purchasing power about which the administration is quite justifiably so much concerned. The most effective and the soundest way to distribute purchasing power evenly throughout the nation is to let prices fall to a point where profits are competitive rather than monopolistic. For obviously when you have lowered the price you have raised the real income of the purchaser. It is a fallacy to think that the only way to distribute purchasing power is through money wages. If high money wages mean high prices as they do. for example, on the railroads and in the bui’ding industry, they limit consumption and promote unemployment. Moreover, high money wages plus high prices are possibly only in quasi monopolistic trades, and that means that they are maintained at the expense of the farmers, the unorganized workers, and the workers in industries which are not sheltered from competition. Until the NRA makes effective inroads upon monopolistic and quasi monopolistic prices it will be working at cross purposes with the other activities of the administration. How, for example, is the parity of farm purchasing power to be achieved if industrial prices are not effectively controlled either by competition or by some other method? The greatest difficulty, however, is in the conflict with the monetary policy. Here the administration has set itself the objective of maintaining stability in the average purpower of the dollar. a a u BUT if the average is to be stable, individual prices must rise and fall in accordance with the law of supply and demand. Otherwise the effect of stabilizing the dollar will be to produce enormous profits in monopolistic industries at the expense of all the others. This was demonstrated in the boom when the average of commodity prices was stable for some years, but owing to the failure of monopolistic prices to fall, purchasing power was very badly distributed. It may be said. I think, that the ideal of a stable dollar will work very badly unless individual prices including, I believe, railroad and utility rates, wage rates in highly organized ind ''.tries and monopolistic industries are made flexible again. To make Lae dollar stable

'PH

and leave basic prices rigid is to invite profit inflation, misinvestment of surplus profits, and insufficiency of consumer purchasing power. I must confess that it is easier to state the problem than to solve it. I do not know how monopolistic prices can best be broken down. Forty years' experience under the Sherman act does not indicate that the prospect is encouraging. On the other hand regulation looks like a hopeless undertaking, to be considered only as a last resort. Possibly the solution may lie in greater publicity of corporate accounts combined with a rewriting of the Sherman act and some new method of enforcement, conceivably through the use of the taxing power on excess profits. But while the solution is to my mind, at least, very unclear, the existence of the problem of monopolistic prices is indubitable. It is the master problem of NRA and the answer which is given will. I believe, make NRA or break it. (Copyright, 1934 1

On Commission Row

—March 3 1 runs Cranberries—Cape Cod early blacks. 25lb. box. $2.50. Pears—Calavos (12-16-20-24s> S3 50 Strawberries—Florida, 144/ 15c per pint. Bananas—Per pound, ac Apples—Wealthy, Wolf River, Grimes Golden, Jonathan. Florida. $1.35®2.15 a bu.. fancy Stavmans, $2.25 a box. Grapefruit—Texas. $3,254/ 3.75. Oranges—California Navels. $3.50. Pineapples $3 a U crate. Vegetables Cabbage—New Texas, half crate. $1.35. Onions—lndiana red, 50-lb. bag. $1.35. Inr iana yellow. 50-lb. bag, $1.35. Beans—Round stringless, hamper, $3.25 <ll .1.50. Beets—Bulk per bu.. $1.25: Texas, new' $1.50 a crate. Peas—3oc lb. crate. $3.25 Carrots—California. $3.25 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 <4-ss> crate $3.25; hothouse. 10-lb. basket, 75c. Radishes—Hothouse button. 55c dozen. Spinach—New Texas. $1 bu. Turnips—Per bu . 90c Tomatoes—3o lbs.. $2. Potatoes—Northern round whites. 100-lb bag. $2.25; R. R. Chios. 100-lb. bag. $2.30; 15-lb. bag. 40ct Idaho Russets 100-lb bag $2.25. Sweet Potatoes—Nancy Halls, per bu. $1.85.

j Delivered in Indianapolis Prices—Hens, I lO’/ic; Leghorn hens. 10c: Leghorn spring-er-stags, 6c; large springer-stags, 9c: I rocks. sc: Leghorn cocks, 4c; ducks, full ! feathered and fat. 4>,2 lbs and over 8c: I geese. 6c: voung guineas. Wi 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 deduc- ■ tion of 10c a pound for each pound under 55 lbs. will be made. Butter—No 1. 2705; 29c: No. 2. 24(0'25c; butterfat. 22c.—Quoted by Wadley Company By United Press CHICAGO. March 3.—Eggs—Market, firmer; receipts. 18.559 cases; extra firsts, 15 3 4 c; fresh graded firsts, 15c; dirties. 15c: current receipts. 14' 2 c: checks. 13c. Butter—Market, firm; receipts, 8,025: storage extras t92i, 24’,c: storage standards i9o'. 24’4C; extra firsts <9O-91' t. 25 'n 25' 2 c; firsts (88-89 '2 >. 23' ?<<i 24'/ 2 c; seconds 1 86-87 Vi 1, 23 c: extras 92 ) c ; specials, 26'i4/27c; standards. 25 3 4 c. Poultry Market, .steady; receipts. 11 trucks: turkey hens, 17c: hens. 144i 15c; Leghorns. 12c; ducks. 12*015c; geese. 10c; old roosters, 9c: broilers, colored. 224/ 22c colored springers. 17c; Plymouth Roek broilers. 19c. Cheese—Twins, 14'.2#t15c: Longhorns. 15W15 I 4C; Daisies. 1 5 15 '4 c Potatoes—Supply moderate; demand and trading slow; market dull: Wisconsin round whites. $1.80: Colorado McClures, burlap bags. $2,104/2.15; cotton bags, $2,204/2.25; Idaho russets, $2,104/2.20: mostly S.l2'i4z 2.15: combination grade. $1,804/ 1.90. New stock—Supply moderate; demand and trading slow: market steady: to jobbers, Florida bushel crates. Bliss Triumphs. $1,604/ 1.70; shipments. 1,080. arrivals. 73; on track. 68. NEW YORK. March 3.—Potatoes—Easy; Long Island. $2,254/2.90 barrel: southern. S3H 3.25 barrel: Maine. $1,604/4.75 barrel: Idaho. 52.504/ 2.60 sack: Bermuda, $64/7 barrel: Canada, $2.34/ 2.45 barrel. Sweet potatoes—Firm: Jersev baskets. 5C4/51.75; southern baskets, 75c4/$1.85. Flour—Firm springs, patents. $6,504(6.75 sack. Pork — Firm: mess, $21.50 barrel. Lard—Firmer; middle west spot, $6.954/.7.05 per 100 lbs. Dressed poultry—Steady; turkeys. 154/25c: chickens. 14/21c; broilers, 144/ 30c; capons. 104/32c; fow’ls. 114/JBc: ducks. 114/14c; Long Island ducks, 154/15 ! 2C. Live poultry—Steady; geese. 84/12c: turkeys. 204/ 23c: roosters. 10c; ducks. 84/12c; fowls. 17 4/ 19c; chickens. 134/ 15c; capons, 22c: broilers. 214/24c. Cheese—Dull; state whole milk specials, 19® 20c; young Americas, 16c.

TRUCKING OFFICIALS WILL DISCUSS CODE Indiana Group Representatives Leave for St. Louis. Members of the Indiana Trucking Association left for St. Louis yesterday to attend a regional code conference today with representatives of nineteen midwestern and southern states and members of the national code authority. Maurice Tucker, South Bend, president of the state organization, and George Person. Dan Moran, Sam Ziffrin and C. W. Clever, Indianapolis. were in the delegation from Indiana. Mr. Tucker said that late advices from Washington indicate that there will be further delay before the trucking code registration will start here and in other states. SEEKS COUNCIL POST John C. Schaler Announces His Candidacy for Nomination. John C. Schaler, 2289 South Harlan street, today announced his candidacy for Democratic nomination as city councilman in the May prii mary. Mr. Schaler is a member of | the Brotherhood of Railroad Trainmen and the Democratic Ctyb.

SWINE PRICES STEADY TU 10 CENTS LOWER Cattle, Lambs Scarce and Unchanged: Vealers Strong. Porker prices closed the week's trading steady to around 10 rents lower than yesterday’s average at the Union Stockyards this morning. The bulk. 160 >o 300 pounds, sold for 54.60 to $4.75. Heaviest kinds, weighing 300 pounds and upward, were salable at $4.35 to $4.65, while 'mailer classes. 130 to 160 pounds, brought $3.50 to $4. Light slaughter grades, scaling 100 to 130 pounds, were selling at S2 to $3. Receipts were estimated at 1.500. With hardly enough stock on hand to establish a market, few "initial sales of cattle remained fully steady with the previous close. Receipts were 100. Vealers were , strong, selling at $7.50 down. Re- ! ceipts numbered 100. Early trading was scarce in the lamb market, with only a few lambs held over from the previous day. on hand. All classes were quotable steady at $lO. Receipts, none. With hardly enough sales to test the market, porker values at Chicago continued steady with yesterday's average. Top held at $4.90. Compared with close la-st week prices were 10 to 20 cents higher on weights below 240 pounds. Other grades and packing sows 25 to 50 cents lower. Receipts were estimated at 2.000. including 1.200 directs; holdovers, 2.000. Cattle receipts were 400; market steady to higher. Sheep receipts numbered 6,000; market uneven to higher. HOGS Feb Bulk. Top Receipts. 26. $5 00 $5.00 3.000 27. 4.9045) 5.00 5 00 8.000 28 4.65® 4 70 4 75 7,500 Mar. 1. 4.654? 4.70 4 70 4 300 2. 4.604/ 4.83 4.83 4 000 3 4.604/ 4.75 4 75 1,500 Market Uneven (140-160' Good and choice.. .$3.75® 4.00 —Light Weights—-<l6o-1801 Good and choice ... 4 60 (180-200) Good and choice.... 465 Medium Weights—-(2oo-2201 Good and choice.... 475 (200-250i Good and choice.... 4.75 —Heavv Weights—-(2so-2901 Good and choice.... 4 704/ 4.75 (300-3501 Good and choice.. . 4.554/ 4.70 —Packing Sows—(3so down) Good 3.754? 4.00 (350 upi Good 3.5045' 385 (All wcightsi Medium 3.254 c 3.65 —Slaughter Pigs—-(loo-130) Good and choice ... 2.00® 3.00 CATTLF. Reeeipts, 100; market, steady. (1.050-I.looi y . , Good and choice sfi 00® 7 00 Common aid medium 4.00® 600 (1.100-1,5001-Good and choice 5.5045! 700 Common and medium 4.00® 5.50 (675-7501 Good and choice 5.2545) 6 50 Common and medium 3.00@ 5.25 (750-900) Good and choice 4.754? 6 25 Common and medium 2.75® 4.75 —Cows— Good 3 254? 3,75 Common and medium 2.754/i 3 25 Low cutter and medium 1.50® 2.75 Bulls (yearlings excluded) Good (beet steers I 2.754? 350 Cutter, common and medium.. 1.504? 2.75 VEALERS Receipts, 100; market, steady. Good and choice $7,004? 8.00 Medium 4.504?) 7.00 Cull and common 2.504? 4.50 —Calves—-(2so-500) Good and choice $7,004? 7.50 Common and medium 2.004? 3.50 —Feeder and Stocker Cattle) 1500-9001 Good and choice . 4.004? 5.25 Common and medium 2.754/j 4.00 (800-1,500) Good and choice 4.00® 5.25 Common and medium 2.754? 4.00 SHLEP AND LAMBS Receipts, none; market, steady. (90 lbs. down i Good & choice. $9,754/ 10.25 (90-110 lbs.> Good and choice. 9.254/10.00 (90 lbs. downi com. and med. 7.504? 9.25 —Ewes— Good and choice 4.50® 5.50 Common and medium 2.50® 4.50

Lippmann

Other Livestock „ By United Press | LAFAYETTE, March 3. —Hogs—Market, steady to 10c lower; 250-325 lbs., $4 404/ 1 4.60; 170-250 lbs., $4,404/ 4.55; 140-170 lbs., $3,504/3.75; 120-140 lbs., $2,754/3.25; 100120 lbs.. $1,754/2.25; roughs, $3.75 dowm. Top calves. $6.50 Top lambs, $8 50. By Times Syi i iul LOUISVILLE. March 3. Cattle Receipts. 75: Saturdays market nominal market compared last Saturday; all grades cows, weak to 25c tower; other classes generally steady; closing bulk common to meaium steers and heifers $44/5; better finished kinds mostly $5,254/6; week's top, $6.35: bulk beef cows, $2 5u4/. 3.25; practical lop. $3.50. low cutters and cutters, $1,254/2.25; sausage bulls, mostly $34/3.50; stocker.s weak most desirable Hereford stock calves. $54/5.25- common to medium grade native, $2 /54/3.75. Calves —Receipts. 250: Saturday's market, quoted steady; but undertone weak; bulk better vealers, $5,504/6.50: medium and lower grades, $5 dow-n; market, mostly steady with last Saturday. Hogs—Receipts, 300; Saturday's market, steady, 170-240 lbs., $5; 245-270 lbs.. $4.65 275 lbs. up. $4.30; 145-165 lbs.. $4.05; 120-140 lbs. $3.15; •sows. $3.05: stags, $1.75; market, compared lsat Saturday, weights from 120-140 lbs., 10c lower; other 5c higher. Sheep—Receipts. 25; nominally steady and unchanged for week; bulk medium to good lambs. $7,504/8.50; choice kinds to $9 or better: throwouts mostly $5.50; fat ewes. $2,504/3. Receipts Friday—Cattle, 120; calves, 441: hogs, 632; sheep, 9. Births Boys George and Katherine Russell, 2649 Brookside. Paul and Freda Mundv. citv hospital. Edwin and Ida Bare, city hospital. Central and Lucille Shaw, city hospital. Samuel and Georgia Woods, citv hospital. William and Daisy Moran. 910 Carrollton. Girls Earl and Marv Forehand, citv hospital Chester and Marv Inlow. citv hospital. Harold and Ruth Savage, citv hospital. Robert and Marie DeWitt. city hospital. Leslie and Gaynell Sanders. lio3'/a West Eighteenth. Deaths Frank Tucker. 46, 1601 West Market, lobar pneumonia. Harold Stewart. 33. St. Vincent's hospital. broncho pneumonia. Edwin Bakes North. 22. St. Vincent hos--pital, septicemia. Elizabeth Lang, 82, 520 East Vermont, chronic myocarditis. Pearl Cook. 29, 52 Whittier Place, cerebral hemorrhage. Mary E. Coleman. 93, 2641 Brookside, 1 lobar pneumonia. Amanda Pringle, 76, 1971 Madison, lobar pneumonia. William Trusty, 64. city hospital, hypo- ; static pneumonia. Charles Madison, 2 mo., city hospital, broncho pneumonia Infant Settles, 2 days, city hospital, congenital heart disease. Mary Hugg. 65. 520 East Vermont, chronic interstitial nephritis. Catherne Newman Kalb, 70, 633 East Maple Road, carcinoma Ella Millspaugh. 72, 1511 North Tuxedo, cerebral hemorrhage. Susie L. Fellows. 67, 106 South Ritter, i chronic myocarditis. Andrew C. Sattele, 37. Veterans’ hospital. pulmonary tuberculosis. Sallie Pavne. 74. 1606 Ringgold, uremia. Eliza Fedder, 69, 1343 Deloss. myo--1 carditis. Frank Ryan, 72. 17 South Colurdo, ari terio sclerosis I*ois Ann Binkley. 6. 1449 Madison, I broncho pneumonia Phillip Udevich, 36, 949 Haugh. lobar ! pneumonia. 1 Squire Roberts. 72. 609 Ogden, lobar I pneumonia Fred B B Alexander. 37, 1011 South ! Dawson, brain tumor. Emma C. Baker. 48. 1124 Lexington, ! pulmonary tuberculosis. Edward Best. 52 906 South Capitol, actue cardiac dilatation. Emma E Pinnell. 68. 3630 Rockville road, apoplexy. Emma Stutsman. 58. Long hosiptal, acut“ cardiac dilatation. Elizabeth P Marts. 55. 3328 North Sherman drive, cerebral hemorrhage. ' In the Air Weather conditions at 9 a. m.: Southeast wind. 6 miles an hour; j temperature, 39; barometric presjsure, 29.84 at sea level; general conjditions, dense fog; ceiling, zero; visibility, zero.

.MARCH 3, 1934