Indianapolis Times, Volume 45, Number 258, Indianapolis, Marion County, 8 March 1934 — Page 24

PAGE 24

Wall Street President Strikes at Important Weakness in Economic Structure in His NRA Address. BY RALPH HENDERSHOT Timet Special Financial Writer "If the banks come along, my friends," President Roosevelt said Monday in his address to the NRA critics, “well have the three great elements in Amercan life working together—industry, agriculture and banks—and then we can't stop.” Those words of the President contain a wealth of importance. Apparently he had not intended to utter them, having departed from his prepared text to do so Just what prompted the change can only be guessed at but the statement was a highly pertinent one and pointed to an important weakness in the present economic situation. The banks are not lending enough money to oil the wheels of

progress. That much is obvious to almost every business man. They have the money, and they maintain they are only too anxious to put it to work, j They would materially increase their earnings if they did. and they would also help in an important way to speed the recovery. Several factors probably play an important part in the maintenance of their present policy of keeping fundi liquid or invested chiefly in United States government bonds. Foremost among them, perhaps, is a lack of confidence in the business outlook. They have just been through a trying period, and they haven't' been able to collect on many of their old loans. They are in about the same position as those who would like to buy stocks but are afraid to do so. a a a Dealing With Money of Others In fact, they are likely to be even more careful than are investors, for they are dealing with other people's money. And they have heard tales of many bank directors being stripped of their personal wealth

Ralph llendershot

entirely to make good on loans made when money was running free j and easy. Some bankers no doubt, also, are a little piqued at the strong words which have been used in recent months to describe them and their ac- i tivities. They have been charged with withholding loans on that account, ' but it is rather doubtful that these charges have much basis in the j great majority of instances. Their reactions have been many and varied, j but they are still business men. Another very important factor holding back the granting of loans ; in the securities act of 1933 and its rigid requirements in connection with ; the sale of new securities. It may not be generally appreciated, but it is ' nevertheless true that many short-term loans are granted on the basis that they will be retired before maturity through the sale of stocks or ■ bonds. With the underwriters refusing to risk the sale of securities banks are unwilling to loan in many instances and corporations are unwilling to borrow funds. a a a a a a Exchange Bill Would Hurt The new Stock Exchange regulation bill, if enacted as it stands, would be likely to cramp loans still further. The banks would be unable to loan as freely on security collateral, and they would be obliged to call in a large volume of the loans already outstanding. Still another factor in the loan situation is the fact that a great many business men have suffered such large losses through the depression and the slump in security values that they have little or nothing tangible to put up as collateral for loans. And such collateral as they have not infrequently is not sufficiently liquid to form the basis for sound loans.

New York Stocks ißv Abbott. Hoopin & Cos.)

—March 8 Prev. Oils— High. Low. 10 30. close. Amerada . 'l'? 3 * 47 3 Atl Reg 30 3 * 30S 30*4 30> 2 Barnsdall B*4 8 3 a Consol Oil }2*s J2 3 4 Cont of Del .... ... 18*4 18U Houston mew i Houston (oldi Indiana Rfg 3 Mid Cont Pet 124 Ohio OH 13 3 4 13 3 4 Pet Cotd ... ... l* Phillips Pet n 3 17V 17 3 s 17's Pure OH 12, 12 2 Sbd Oil fi>4 Simms Pet } Soc Vac 16% 16 a SOof Ca 1.333. 3 3* 3 a SOof N J 45*2 4a*g Sun Oil „ 52‘ 3 Texas Corp 25*4 2a 3 25 .6a Tidewater Assn ... ... *l** ** ,* Un Oil of Cal 17 3 4 Am*Ron”Mills .. 24’ 4 24’ 24’ 24 Beth Steel 43". 43*. 43 5 e 43_a Bvers AM .■• 26 4 Col Fuel A Iron ?V Cruc Steel ... *• • 33 Inland Steel 47 imiTiim Steel ••• J 2 • McKeesport Tin . ... §l*2 88 Natl Steel . .... ... 49 2 49 Rep I A Stl 22’ 2 22’a 22** 21 3 * Rep I A- Stl pfd ... 61 U S Smelt . 123 122 123 121 Vanadium 26 3 * 26_a Mid Steel Shell Un Ig’a 10’ 2 U S Pipe & Fdy ... 27 26 3 a U S Steel 53 ’4 52 3 4 o3 53*4 U S Steel pfd ... ... 91,2 Youngstn S& T ... 28*4 2i 4 *ai‘ s — „ Atchison 65 6b Atl Cst. Line • , 47 •* B A O 29*4 29 29’ 4 28*. Can Pac ... 16 16’a Ch & Ohio 43 42 \ 43 43 Chi A Gt W C M At St P . 6 4 6 3 4 CMA St P pfd ... 10** 10>4 Chi N tv 12' 2 12’a 12 1 2 12 3 * Chi R Is! 5 Chi R I 1% pfd 8 Dela A- Hud . ... ... 62*4 Erie ... ... ... 21 Ort North pfd 27 , a 27 111 Central 31'j Lou & Nash ... 55 M K A- T 12 11 3 4 12 12*a Mo Pac .. ... 4 3 4 4 a Mo Pac pfd • < 2 N Y Cent 37 36*. 37 36N NY C A- St L 20-2 NY C A St L pfd . . .. 29 3 4 N Y New Haven 18* 18*4 18*4 18 3 a N Y Ont A- Wes. ... ... 10 3 * Nor Pac 29S 29 Penn R R ■ • 34'* 34Ja 101 l iTr 30'* 30 30*2 30’2 Sou R R pfd Union Pac 126*4 127 Wabash 4 4 West Mary 14** Motors — Auburn 53. 5-4 Chrysler 53’a 52-4 Graham Mot • ■ 3.4 Hudson ... !8 3 4 18_n Mac| Truck .! ... .33 3 Nash 26 Packard ... 5 2 5a Studebaker 7*4 7* Yellow Truck 5 Motor Access— Bendix 19 J® 2 Bohn Alum Borg Warner 24 34 aWi :::: :: ::: $ UM* Lite 28’a -28*4 %'l Hond A ** Mullins Mfg 12 4 Murray Body 9 Stew Warner ? Timken Rol ... ••• 33 Alaska Jun 20 2 .0 Am Smelt 43 > 3 43*2 Anaconda 14*2 14 a Cal A- Hecla 5 5 Cerro De Pasco 34*. 3-*; 2 Granby Ot Nor Ore 13*4 Homestake Min 34 < Howe Sound ... 46*4 Ins Copper •• ■■■ 3 * In* Nickel 2i a 25*4 25 a .4’s Kennecctt Cop . 19*2 19 l 4 19*2 19* Noranda Cop 36 4 Phelps Dodge 16*4 16> Tobaccos — Am Snuff ... ... 55 Am Sum Tob .... 19*4 Am Tobacco 68* a Am Tobacco 8.. .. ... 70*4 70 Gen Cigar 31*4 Ligg A Mvers B .. ... 84*4 85 Lorrillard • • 17 Reynolds Tob B. .. ... 40*2 40*2 Equipments — Allis Chalmers 19 Am Car A Fdy ... ... ... 28 Am Loco 34 Am Mach A Fdy 16 3 Am Steel Fdy 20‘a Bald Loco ... 13*. 13 Burroughs . • ... 16*4 16*2 Case J 1 TJ 3 . 72>a 72’a 71’j Cater Tract .. ... ... 28*4 Colgat Palm Peet 16 Congoleum 28' Elec Stor Bat 47 Foster Wheeler 18*. Gen Am Tnk Cr 40' 2 Oen Elec 21*4 21 >4 Gen R R Sig 43 43 3 Ingsol Rand 65*2 Int Bus Mach . . 141 Int Harvester 40 s . 40*. 40*. 40-' Kelvinator 18". 18 1 . 18’. 18'a Natl Cash Reg . ... 19*4 19 3 Proc A Gamble 3~'i Pullman Inc 54*2 Simmons Bed 19 3 West Air B 30*2 30’a Westingh Elec 38‘a Worthingtn Pm 24 Utilities— Am A For Pwr ... 9* 9 3 4 Am Pow A Lit. 119*4 119*4 119 3 119*. Am Wat Wks . 20* 20> Col Gas A Elec 15** 15 15** 15* 4 Col G A E pfd ?04 Cost A Sou 2*. 2 3 Con.*l Gas 38 ‘2 38 ’2 Gee Pwr A Lit 7 3 a P L pfd 14 i Int T A T 13 3 4 I3 3 i I LOU O A E A 17 3 4 , Nat Pw A Lit ... 11*, 11*2 North Amer 18* is s . 1 Pac O A E 19 1 Pub Serv N J ... 37*,3337 3 So Cal Edison ... ... 18*2 Bid Gas 12** United Corp 6*4 6' 3 Un Gas Imp 17 16*. Ct Pw A Lit A 3*4 Western Union 54*4 53 S Rubbers— Firestone ... 21*4 21*4 Ooodrcm 15=4 15H 15*2 15*. radyear 36 S B Rubber 18*4 18 Vt

U S Rubber pfd. .. 4974 Kel Spring I" ‘'3% 4* Amusements— Crosley Radio .... ,4 Fox Thea " ’‘ ’ {43, 8 Loews Inc 31*, 31% 31% 31 g£. Q ‘° c °rP 8 7*4 8 77. KK.O 3% 3 1 ' Warner Bros Foods— Am Sugar 51 ,- Armour (A: 5% ssf Beatrice Cream y .. . 15 Borden Prod '921/- 99 Cal Packing .W 24% 24% Can Dry G Ale. ... 24% 24% Coca Cola . .... s riei. 4 Cont Bak (A: [ ,91? Corn Prod 713. 71 *4 '7134 7TI Crm of Wheat . 33 18 33 2 Foods 32% 32% 32% 33% Gold Dust .. iqj,” Tni* G W Sugar 27% 27 % Hershev .. "* 2(8 Int Salt . 21 jf Loose Wiles ... 49 u Natl Biscuit. .... 41 403; Natl D Prod 153/. i= : 4 urity Bak . JiL 2 S Porto Rico S . . 393® UnVdYru:- 21 ’* . 21 * Ward Bak (A*. . g3% 03^ Wrigley .. ... 5 | 4 5 |„J Retail Stores— Asso Dry Good. .. Best 6c Cos ... * *32% at Gimbel Bros ... . ’ 3 iL„ Gimbel pfd " ’ 2 8 Gr Un Tea ... . ' kv. n Hahn Dept Sts .. 6 3/J g3/. Jewel Tea 4 4 Kresge S S '19% jg:, Kroger Groc 30% 301,? Macy R H . 53 c? =2, 4 May Dept St .. !! i" , 53 " 4 Mont Ward 3934 301* Penny J C 4 Safeway St. , . 33 Sears Roebuck ... " 4 5% 4fi wooiworth Aviation— Aviation Corp 8% B*/ 8% 7*4 Douglass Air 23% 23 23 20% Curtiss W’right . . 41.; 37® Curtiss Wright A i 8 Nor Am Av ... 6% s*, United Aircraft. .. ... Chemicals— Air Reduction .... .. ooi. Allied Chem .. .. ’** ,401? Am Com Alco 5214 51 u Col Carbon . . ... gj ‘ Com Solvents .97 96% ‘96% 96% Freeport Tex 411, Liquid Carb 2714 28 Math Alkali ... 4 343.. Tex Gulf Sulph . .. ...33 5 38 Union Carbide 44% 44 44% 44 C S Ind Alco 5314 531 Natl Dsst (nev.) 23** 28% ’B% 27% Drugs— Coty me ...... 7 7 Lambert 26 ** 26% 26*2 27 Lenn A- F.nk 191. 197. Zomte Prod .... . 4 g. 8 Financial— 2 Adams Exp ... . os. Allegheny Corp 35* 7s 2 Chesa Corp 38 4 g Transamerica gi. Tr Conti Corp . . . "' 2i? Building— 3/2 Am Radiator .. 14% 14% 141, 143. Int Cement 29% 29% Jqhns Manville 551“ s?i 8 Libbv Owens Gls... . . 36% 36% Otis Eiev 11 2 ig, 4 Ulen Const ... 33® Miscellaneous— Am Bank Note 10 Am Can 100 99% ioo 99*4 Anchor Cap ... ... 2 (1% Brklvn Man Tr 31 301 2 Conti Can ” 76% 77% Eastman Kodak 07% Owens Bottle S S i 4 Gillette ; ii f?* 2 Glidden 22% 921 Gotham Silk in% Tn% Indus Rayon .. 82% 83% Inter Rapid Tr 9% 91 2 New York Curb 'Bv Abbott. Hoppin Sc Cos.) —Match 7 Close. 1 Close Allied Mills. 8% Gulf Oil of Pa 70 Alum Cos of Am 69 Hiram Walker 46% Am Beverage.. 3 Hud Bav Min 11% Am Cvanide B. 17% Humble Oil " 41 Am Gas & El.. 24N Imp Oil Ltd " 13% Am Superpow.. 3% Int Petrol .. ." 21% Ass Gas A- El.. I** Lake Snore Min 47% Atlas Coro 12% Lib McN Libbv 4% British Celanese 4 Lone Star Gas. 6% Can Ind Ale A 15% Natl Bellas Hess 2% Car. Marc 3’* Newmont Min 53 Carrie.- Coro .. 6% Nla Hud Pw r :. 6% Cities Serv . 3% Nova del Aeene 65 Commonw Eo 55 Pan Am Airways 37 Consol G of Bit 57*2 Park Davis ... 24% Cord Corp 6*2 Penn Road . 3% Creole Petrol.. 11 St Regis Paper.. 3% Dere A- Cos ... 29’* Sal Creek Prod. 6** Disti.lers Lim.. 22% Sherwm Wms . 65’* Distillers Corp. 19 Std of Ind . 28% Dow Chem 71*2 Std of Kv.. . ' 16 El Bd A- Sh... 16% Technicolor Ind 9‘* F:sk Rubber. 18% Teck Hugh Gld 6*2 Ford of Can A 22% Un Gas 3 Ford of Europe 7% Un Pwr &Lt A 4% Gen Aviation. 7 Wr Harg Min... 8% Glen Alden Coal 17**

Investment Trust Shares

(By Abbott. Hoppin & Cos.) —March 7 Bid Ask American Bank Stocks Corp.. 115 1.20 American & General Sec A.. 500 7.00 American Inv Tr Sh 1 54 Basic Indus;rv Shares 345 355 Brttish Type Inv Tr Sh 65 75 Collateral Trustee Shares A.. 4.75 530 Corporate Trust Shares iold‘. 214 217 Corporate Trust Shares inewi 241 244 Cumulative Trust Shares 415 425 Diversified Trust Shares A 625 Diversified Trust Shares B 810 830 Diversified Trust Shares C 324 328 Diversified Trust Shares D... 495 505 First Insurance Sro;k Corp 13Q 1.35 First Common Stoca Corp ... 8* 88 Fixed Trust Oil Shares A 8 70 8 95 ' Fixed Trust Oil Shares B ... 7.50 765 i Incorporators Investment .. 18 75 19 00 Land Bank Bond Shares.. 106 118 Low Priced Shares 6.30 Mass Inv Trust Shares 19 40 21 07 Nation Wide Securities 3 48 3.52 North Amer Trust Shares *s3> 189 193 No Amer Trust Shares >55-56* 242 247 North Amer Trust Shares ■SB • 2.56 2.60 Selected American Shares Inc 260 Selected American Shares 1.18 1.22 Selected Cumulative Shares .. 7.00 .... Selected Income Shares 350 370 Std American Trust Shares A 303 310 Trust Shares of America 288 292 Trustee Std Oil A 5.60 5.70 Trustee Std Oil B 5.25 5.50 C S Electric Lt & Pwr A.... 12 25 12.50 Universal Trust Shares 3.10 3.15

ISSUES DISPLAY UNEVEN TREND: TRADINGACTIVE Aviation List Up Fractions to 3 Points; Motor Group Strong.

Average Stock Prices

Average of thirty Industrial yesterdav: 104 58 high. 101 12 low. 10159 last, off 225 Average of twenty rails, 48 94. 47.42. 47.60. off 1 09. Average of twenty utilities. 28 73. 25 33. 25.90. off 64. BY ELMER C. WALZER United Press Financial Editor NEW YORK, March B.—Activity and strength in aviation shares which rose fractions to 3 points featured an irregularly higher opening on the Stock Exchange today. Trading was fairly active. Douglas Aircraft opened 2.000 shares at 23 %, up 3 points. United Aircraft opened 5,000 shares at 25*4, up 1%. Wright Aero opened at 53*2, up l’j. Smaller gains were made by the Curtiss Wright issues, Bendix and North American Aviation. Buying in the aviation issues was spurred by President Roosevelt’s request the air mail business be returned to private firms under anew law. The stocks were active in the early trading, but eased from initial prices. Strength in automobile shares was a feature of the early trading. Pressure lifted in the group when strike threats failed to materialize, although the labor situation in the industry is still considered uncertain. General Motors opened 3,000 shares at 36 %, and later rose to 37. Auburn Auto gained a point to 55Vi. Chrysler opened at 53H, up %, and later sold at 53*2. Electric Autolite was at 2 3 4, up ti, in the automative equipments. United States Smelting rose 2 points to 123 in the silvers after a loss yesterday of s*i points. Case rose nearly a point in the farm shares. United States Steel opened at 53’v unchanged and then rose to 53*2. Oils were steady as were wet stocks. Rails rose small amounts. Utilities were steady. Volume lightened in the early trading.

Bank Clearings

INDIANAPOLIS STATEMENT —March 8— Clearings $1,573,000.00 Debits 4.152.000.00 TREASURY STATEMENT By United Press WASHINGTON. March B.—Government expenses and receipts of the current fiscal year to March 6. compared with the corresponding period of the previous fiscal year: This Year Last Year. Expenses $4,354,417,923.04 $3,478,282,372.08 Receipts. 1.959.289.721.20 1.286.696.679.50 Deficit. . 2.395.128.201.84 2,191.585.692.58 Cash Bal. 4.861,905,807.04

Foreign Exchange

(By Abbott. Hoppin & Cos.) March 7 _ Close. Sterling. England $5.08% Franc France 0658% Lira. Italy 0856% Belgas. Belgium 2331 Mark. Germany 3968 Guilder. Holland 6827 Peseta. Spain 7362 Krone. Norway 2555 Krone. Denmark 2271

U. S. Government Bonds

By United Press NEW YORK, March 7.—Closing liberties (Decimals represent thirty-seconds): —Liberty—--3%s 132-47) 102.16 Ist 4%s (32-47) 103 4th 4%s (33-38) 103.13 —Treasury—--4%s 3** (45) 100.26 4%s (47-52) 109.20 3%s (43-47) ; 101.4 3 3 as (41-43) March 101.8 3%s (40-43- June 101.10 3%s (41- 100.26 3*/sS (46-49- „„ 99.21 3s (51-55- 7. 97.27

Daily Price Index

By United Press NEW YORK, March 7.—Dun & Bradstreet's daily weighted price index of thirty basic commodities compiled for the United Press: (1930-1932 Averafie. 100) Today 108.69 Yesterday 108.96 Week ago 108.60 Month ago 107.66 Year ago Bank Holiday 1934 High (March 5) 109.51 1934 Low (Jan. 3) 105.05 Copyright. '34, by Dun & Bradstreet, Inc.

Federal Farm Loan Bonds

(By Blyth & Cos., Inc.) —March 17— Bid. Ask. 4s. Nov. 1. 1957-37 93% 94% 4s. May 1, 1958-38 93% 94% 4%5. July 1. 1956-36 94*2 95% 4**s, Jan. 1, 1957-37 94% 95% 4%5, May 1, 1957-37 94*2 95% 4%5, Nov. 1. 1958-38 94% 95% 4%5. May 1. 1942-32 96% 98 4%5, Jan. 1. 1943-33 96% 98 4%5, Jan. 1, 1953-33 95% 97 4%5, July 1, 1933-33 95% 97 4%5. Jan. 1. 1955-35 95% 97 4%5. July 1. 1955-35 95% 97 4%5. Jan. 1. 1956-36 95% 97 4%5. July 1. 1953-33 96% 98 4%5. Jan. 1, 1954-34 96% 98 4%5. July 1. 1934-34 96% 98 ss. May 1. 1941-31 99% 100% ss. Nov. 1. 1941-31 99% 100% Home Loan 4s. July 1. 1951 ... 96% 97%

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 8.75 Indiana, forked lump 5.50 Indiana, egg 500 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 825 Pocahontas egg 8.25 Pocahontas forked lump 925 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6 75 ' West Virginia egg 6.50 i 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 Press CHICAGO. March 7.—Apples—Michigan Baldwins, 51.151.5 bushel. Carrots—lllinois. 4050 c bushel. Spinach—Texar. 65 4i9oc bushel. Beans—Southern green $2 2552 5; wax. $2.50. Cucumbers—Central western hothouse. $2 52 50. two dozen. Tomatoes—Florida. $16.1.75 box. Sweet fotatoes —Tennessee. $1 6051.65 bushei; ndiana. $1.7051.75. Rhubarb—Michigan hothouse. 25 ii 35. five pounds. Rutabagas Central western. 755 80c. fifty pounds. Turnips—Central western. 405 oOc bushel. Mushrooms—lllinois. 17‘5535c-pound caron Asparagus—California crates, $3,255 5 dozen bunches. Onion market. 50-lb. acks Western Valencias. $15130; central western yellows $1(81.5; central western whites. $1.75. NEW YORK COFFEE FUTURES —March 7 SANTOS High Low. Close. March 11.05 11.00 11.02 May .. 11.29 11 22 11.22 July 11 42 11.27 11.32 September 11.73 11 65 11 65 December 11 83 11.76 11.76 RIO* January .... 9.40 March • 8 65 May 8 85 8.78 8.78 July 8.93 8.83 8.83 September 8.95 8 90 8 90 December., ..3.99 8.95 8.95

THE INDIANAPOLIS TIMES.

Chicago Stocks .... ■ g, Abbott. Boooirt It Cos. TOTAL SALES, 37.000 SHARES. —MarcA 7 High. Low. Close. Abbot Lab ... 45 % ; Adams Mfg 10*4 9 10 | Am Pub Sorv pfd 8 | Asbestos Mfg 3% 3% 3% Bastian-Blessing 7 6% 6% j Bendix Aviation 19% 18% 18% Borg-Warner 25% 24 24 i E L Bruce Cos 14% Bunte Bros 7 ! Butler Bros 11 >4 10*4 10% Cent 111 Pub Serv pfd.. 19% 19V* 19% Cent 6c So West 1*,4 Cent 6c So West pfd 7 Chi & North Western. 13% 12*4 12% Chi City 6c Con Rvs ctfs . . ... 1% Chicago Corp com ... 3*4 3% 3% Chicago Corp pfd ... 27% Cities Service 3 ! /e 33 , Commonw eaitht Edision 55 1 2 54 54 I Continental Steel 9% i Cord Corp 7Vi 6* 4 6% Crane Cos 94* 8% 8% Crane Cos. pfd 61 1 2 Curtis Lighting 2Vs Electric Household 13 Gen Household Ut 14 12*4 12% Godchaux "B'' 8 Goldblatt Bros 16% 16 16 Great Lakes Aircraft 1 Great Lakes Dredge .. 19% 19 19 Hall Printing 8% B*4 814 Harnischfeger 7 Houdaille-Hershey 8.. ... 5% Illinois Brick 5*4 Kalamazoo Stove 24*e 24 24 ; Katz Drug 31*4 S Ky. Ut Jr Cum pfd 18 Libby-McNeil s*/s 4*4 5 Lynch Corp 35*4 Manhattan-Dearborn ... I'2 Marshall Field 17% 16 7 a 16% Merchants & Mlrs A .. .. ... 3 Mickelberry s Food Prod 3 Middle West Utilities... % *4 *4 Modine 14 National Leather 2 1% 1% National-Standard 25 Noblitt-Sparks Indus I 14*4 14% 14*2 North Amer Gas & Elec .. ... % North Amer Light Sc P 3% 2% 24* I Northwest Engineering 6*2 Parker Pen 5% Perfect Circle 30 Potter Cos .. ... 5‘4 Prima Cos 9 Public Service ... 20 Public Service N P 20 i Quaker Oats 116 Quaker Oats pfd 121‘/a Reliance Mfg Cos 16*4 16*4 16*2 Sears Roebuck 47 46*4 46'2 Standard Dredg Cos pfd .. ... 3** Swift & Cos 16*4 16*4 16‘s Thompson JR 9*4 9 9 Utility & Ind pfd 4*4 Vortex Cup Cos 10 9*4 9*,* Wahl 1% Walgreen Cos com .... 23*4 23*4 23'* Ward Montgomery A.. 110*2 Zenith Radio 3*4

Bond Prices

(By Fenner Sc Beane) —March 8— High. Low'. 10:30. Alleg Corp 5s ’SO 31 29*4 29 3 * Am & For Pvr 5s 030. ... 48*4 AT & Tdb 5s ’65 107*4 107 107a Atchison gen 4s '95 ... 99*4 B & O cv 4s '6O 69*4 69V4 69** Beth Steel 5s A ’42.... 107 106*4 107 Brazil 6%s (26: ’57 .. 30*4 30*4 30% Can Pac 4s ’57 ... 78*2 C & O 4*4s (A) '39 1004 CMS P&P adj 5s A 2000 18% 18*4 18% C M St P&P rs 5s A '75 50 49*4 49-* Cons Gas N Y 44s ’sl. 98*4 98*4 98*4 Denmark 5* 2 s '55 ... 93% Erie R R rs 5s '67 70*4 70 70 Goodyear 5s ’57 95 3 4 95*4 95*4 Oi. Nor 7s (A) ’36 954 95% 95*2 Interboro R T 5s ’66 70% 70*4 70*4 Int T Sc T db 5s ’55 62*4 62 62 McKess & Robb 5%s ’SO 71 704 704 Nat Dairy db s*4s ’48.. 88 87% 87% N Y Cent 4*4s O 2013.. 79 78*4 78% Pac Gas &Elss A '42.. 104% 104*4 104 3 * Penn R R 4*.is D 'Bl 93*4 Poland 7s '47 98*4 98*4 98Vs Sin Cons 6*4s B '3B ... 104 Texas Corp 5s '44 N. 101 Tob Pr N J 6‘4s 2022 105*4 Un Pac Ist 4s '47 102*4 U S Rubber 5s A '47 79% Western Un 5s ’sl ... 89 Ygstwn S & T 5s B ’7O 87 86*4 86

Bright Spots

(By Abbott. Hoppin & Cos.) Stewart Warner Company reports sales for the first two months of 1934 totaling approximately $2,405,360, against $1,004,858 for the same period of 1933. S. S. Kresge Company reports saJes for the first two months of the year at $10,189,993, against $7,808,785 in the like period of last year. Plymouth Motors Corporation shipped 34,709 cars in February, compared with 9,291 in February of last year. Auburn Motor Car Company declared a regular quarterly dividend of 50 cents a share. Pathe Exchange, Inc., and subsidiaries report net profit for 1933 totaling $386,629 after charges, against net loss of $109,834 in 1932. U. S. Tobacco Company declared a dividend of sl.lO on common stock, payable April 3, of record March 19. The company also declared a regular antitrust dividend of $5, payable March 31, of record March 9. Pennsylvania Railroad Company reports loading for the week of March 3, totaling 91,692, against 87.991 in previous week and 74,640 in same week in 1932. United Carbon declared a regular semiannual dividend of $3.50 on preferred stock. U. S. Gypsum Company declared a regular quarterly dividend of 35 cents on common stock. Consolidated Film and subsidiaries reports net income for 1933 amounting to $909,388 after charges, against $852,228 in 1932. Electric output in week of March 3, totaled 1,658,040 kwh. against 1,422.875 in like week of 1933. Homcstake Miring Company declared the usual monthly extra dividend of $1 and regular monthly dividend of sl. Pure Oil Company for 1933 earned $2.70 a share on combined preferred stock, against $2.14 a share in 1932. American Gas & Electric and subsidiaries in twelve months ended Jan. 31, reported net profit of $9,714,600 after charges, against $11,318,583 in previous twelve months. Steel operations during the week rose 2 points to 49 per cent of capacity, according to Iron Age. American Express declared a regular quarterly dividend of 51.50. Atlas Tack in 1933 earned 85 cents a share, against a net loss of $70,673 in 1933. Marine Midland Trust Company declared an extra dividend of 15 cents and a regular quarterly dividend-of 37 cents.

Produce Markets

Delivered in Indianapolis Prices—Hens, 10%c; Leghorn hens, 10c; Leghorn spring-er-stags. 6c: large springer-stags, 9c; cocks. se; Leghorn cocks. 4c: ducks, full feathered and' fat. 4% lbs. and over. 8c; feese. 6c: young guineas. l*/ 2 to 3 lbs., sc: 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® 29c: No. 2. 24@25c: butterfat. 22c.—Quoted by Wadley Company ELECTRIC PRODUCTION SHOWS HUGE GAIN Last Week’s Output Among Best in Five Years, Figures Show. By United Press NEW YORK, March B.—The best year-to-year gain in electric power production in almost five years was recorded in the week ended March 3, the Edison Electric institute reported today. Total production was 1,658,000,000 kilowatt hours, the largest total since Sept. 16, 1933, an advance of 16.5 per cent over the corresponding week of 1933. The percentage gain over the previous year was the best since the week ended July 6, 1929. SPANISH AUTHORITIES FEAR GENERAL STRIKE Government Reinforces Police; Forbids Public Gatherings. MADRID, March 8. —Reinforcement of the Guardia civil and the auxiliary police was sought by the government today. Operating under a national state of alarm decree, it acted on the belief that Socialists planned a revolutionary general strike. Large public gatherings, political or social, were forbidden in anew decree today. The government was prepared if necessary to declare martial law.

SWINE MARKET RISES 10 TO 25 CENTSAT PENS Cattle, Vealers Unchanged; Lamb Prices Steady $9.50 Down. Porker prices advanced sharply in early trading at the local stockyards this morning. Light receipts and a strong demand sent values soaring from 10 to 25 cents above yesterday's average. General run was mostly 15 cents higher, while underweights displayed the major increase. The bulk, 160 to 300 pounds, sold for $4.65 to $4.80. Heaviest weights, scaling 300 ponds ahd upward, were salable at $4.40 to $4.70. Lighter classes, weighing 130 to 160 pounds, brought $3.25 to $4, while light slaughter pigs, ICO to 130 pounds, were available at $2.25 to $3.25. Receipts were estimated at 4,000; holdovers, 309. Slaughter steers continued mostly steady with yesterday's average, but slightly lower compared with last week's figures. Practically all classes were scarce and slow. Receipts were 800. Vealers resumed a steady trading range, selling at $6.50 down. Receipts, 600. With only light action evident, all lamb sales remained stationary. Common grades sold at $9 down, while few choice kinds were selling at $9.50. Receipts numbered 500. Early asking on hogs at Chicago was around 10 cents higher. Initial bids were scarce. Receipts were estimated at 5,000, including 4,000 directs holdovers, 3.000. Cattle receipts numbered 5.000; calves. 2,500; market steady to strong. Sheep receipts were 10,000; market unchanged. HOGS Mar. 2. $4.60® 4.85 $4.85 4 000 3- f 75 4.75 1.500 5. 4.75® 4.90 -5 00 4 000 6. 4.50® 4.65 4.75 8,000 7. 4.50® 4.65 4.75 5 000 8. 4.65® 4.80 4.80 5,000 Market, Higher. (140-160) Good and choice $ 3.75@ 4.00 —Light Weights—-(l6o-180) Good and choice.... 4.65 (180-200) Goo dand choice.... 4.75 —Medium Weights—-(2oo-220) Good and choice..., 4.80 (220-250) Good and choice. .. 4.80 —Heavy Weights—-(lso-290) Good and choice.... 4.75@ 4.80 (300-350) Good and choice . . 4.6C@ 4.75 —Packing Sows — (350 down) Good 3.75® 4 00 (350 up) Good 3 50® 3.85 (All weights) Medium 3.25® 3.60 —Slaughter Pogs—-(100-130) Good and choice ... 2.25@ 3.25 CATTLE Receipts, 800: market, steady. (1.050-1,100) Good and choice $6.00@ 7 00 Common and medium 4.00® 6 00 (1.100-1.500) Good and choice 5.50® 7 00 Common and medium 4.00® 5.50 (675-750) — Good and choice 5.25@ 6 50 Common and medium 3 00® 5.25 (750-900)- w Good and choice 4.75® 6.25 Common and medium 2.15@ 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, 600; market, steady. Good and choice $ 6.00® 3.50 Medium 8.50® 6.00 Cull and common 2.00® 3.50 —Calves—• (250-500) Good and choice 7.00® 7.50 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 medium 2.75® 4.00 SHEEP AND LAMBS Receipts, 500; market, steady. (90 lbs. down) Good & choice.? 9 00® 9.50 (90110 lbs.) Good & choice.. 8.75® 9.25 (90 lbs. down) Com. & med... 7.00® 8.75 —Ewes— Good and choice 4.50® 5.50 Common and medium 2.50® 4.50 Other Livestock By United Press CHICAGO. March B.—Hogs—Receipts, 15,000, including 4.000 directs; active, fully 10c higher; 180-290 lbs., [email protected]; top. $4.75: pigs; [email protected]; packing sows, $3.65@4: light lights. 140-160 lbs., good and choice. [email protected]: light weights, 160-200 lbs., good and choice. $4.10®4.70; medium weights. 200-250 lbs., good and choice, [email protected]; heavy weights, 250-350 lbs., food and choice. $4.25®4.70; packing sows, 75-550 lbs., medium and choice, $3.50® 4.10; slaughter pigs, 100-130 lbs., good and choice, $2.50®3.50. Cattle—Receipts. 5.000; calves, 2,500; fed steers and yearlings rather slow but strong to 15c higher; medium and weighty steers showing advance; all cows and heifers better action as strong to unevenly higher prices; strictly choice yearlings absent, best $7.15; mostly $5®6.50 market; prime, 1,600 lb. kinds, $6; slaughter cattle and vealers. steers. 550-900 lbs., good and choice. s6® 7.65; 900-1.100 lbs., good and choice. s6® 7.65; 1.100-1,300 lbs., good and choice, [email protected]; 1.300-1,500 lbs., good and choice. 54.75®7.25; 550-1.300 lbs., common and medium, $3.75®6; heifers. 550750 lbs., good and choice. [email protected]; common and medium, $3.50®5; cows, good, [email protected]; common and medium, $2.75® 3.50; low cutter and cutter, [email protected]; bulls (yearlings excluded: good (beef), S3 25® 3.75; cutter, common and medium, 52.50®3.35; vealers. good and choice. $5.50 @6.25: medium, $4.75®5.50; cull and common. $3.50®4.75; stocker and feeder cattle, steers. 500-1.050 lbs., good and choice, $4.50®5.75; common and medium. $3.25® 4.75. Sheep—Receipts, 10.000; fat lambs opening slow about steady in uneven trade; opening bids down to $9 and below: sheep steady; few native ewes up to $5 and $5.50; slaughter sheep and lambs, lambs, 90 lbs. down, good and choice. $8.50®9.35; common and medium. $7®8.65; 90-98 lbs., good and choice. [email protected]; ewes, / 90-150 lbs., good and choice. [email protected]: all weights, common and medium ( $3(5.4.50. PITTSBURGH. March B.—Hogs Receipts. 1.000; holdovers. 1.000: slow; 170210 lbs.. 5c lower at $4.85® 4.90; top. $4.90: 210-250 lbs., $4.75®4.85: 250 lbs. up. $4.50® 4.75; hogs below 160 lbs., dull: practically no demand: one load westerns averaging 158 lbs., $4.25; 110-135 lbs., quotable, s3® 3.25; lighter weight pigs. s2.eo down; packing sows, [email protected]. Cattle—Receipts, 65; steady. Calves—Receipts. 100; unchanged; good and choice veal calves, $7.50; medium. $5.50® 6.50. Sheep—Receipts, 500; 25c lower: sorted wool lambs, $9.75: common to medium. s6®9; shorn lambs. $7.75 down; good sheep, steady. CLEVELAND. March 8 —Cattle—Receipts. 200: market slow and dull and about steady; choice steers. 750-1.100 lbs., $6.25® 7; 550-1 200 lbs.. ss®6; heifers, 600-1.000 lbs.. [email protected]; good cows all weights. 52.50® 3.25. Calves—Receipts, 400; market. 50 cents lower; choice to prime. $6.50 @7: choice to good $6®6.50: fair to good. ss® 6; common. s3® 5. Sheep—Receipts. 1.500; market. 10 to 25 cents lower: choice wethers. ss@6; medium to good. $3.50® 4: choice spring lambs. s9® 9.75: good to choice. SB®9. Hogs—Receipts, 1.100: market 10 cents higher; 250-300 lbs.. $4.25@ 4.50: 220-250 lbs,. 54.50@4 65; 180-210 lbs., $4.85; stags. s'-*.75; pigs. $3; roughs. $2.75.

In the Cotton Markets

CHICAGO High. Low. Close. January 12.60 12 46 12.46 March 12.05 May 12 32 12.10 12.13 July 12.31 12.22 12 25 October 12 52 12.33 12.35 | December 12 58 12.41 12.42 NEW YORK January 12 57 12.40 12 40 March 12.10 1197 11.98 May 12.22 12 05 12.09 July 12.33 12 16 12.20 October 12 44 12 26 12 28 December 12.54 12.34 12 36 NEW ORLEANS Januarr 12.52 12 50 12 50 March 12 07 12.05 12 07 May 12.19 12.03 12 07! July 12.31 12.13 12.18 | October 12.41 12 23 12 27 December . . .. 12.48 12 31 12 34 In the Air Weather conditions at 9 a. m.: Northwest wind, 14 miles an hour; temperature, 25; barometric pressure, 30.30 at sea level; general conditions, overcast; ceiling, estimated at 2,800 feet;

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

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

JANUARY YCkAUAfty MARCH ,|i& 1 • 11 l* n 1* 5 n * J 1 1 I ! -|.: t j j ,II is ! i.A>l 1 <=" rji |j'|„ ||ll, | | : 1 ! i * Jil 1 w 1 *■ I 9 r __mzLz_j 19 A I ... t 1 S 7. L , ! T 5 _. :~ : * * tl J) “ 1 j i_. . m_ * I, —.—! ! 1 jU/UCJ HADED I I j jrm : 1 *" fcnft V\ / ’ VOL, liounfel | ) | 1 O W \ f I /ATUftOAY./ -j ~7f | | , | tooj~z^_\L_[izzrr ij o*9o | , i4- 4- —-4- II- —- ■ : i a ill. 1 E c 700 _ I . jll - - t)00. . L J §

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.

U. S. Uses New Policy to Reduce Floating Debt

Government to Refund Huge Sum of Short-Term Certificates. By United Press WASHINGTON. March B—The federal government sought today to refund $460,099,000 of maturing % per cent short term certificates of indebtedness with longer term fouryear 3 per cent notes as a part of Secretary of Treasury Henry Morgenthau’s policy of reducing the heavy floating government debt. Maturing on March 15 are $460,099,000 of 94 per cent nine-month certificates. These securities will be accepted for subscription to the new securities. The relatively high interest rate on the refunding issue is accounted for by their longer maturity and the issue was considered in some quarters as a “test” of the ability of the government to borrow large additional sums at relatively long maturities. The March financing did not provide for the borrowing of any “new money” as had been rumored. Despite the huge $5,000,000,000 cash treasury balance, it had been expected that still more money would be borrowed, EARLY STOCKYARDS’ CODE HELD REMOTE Experts Will Not End Research for Several Months. By United Press WASHINGTON, March B.—Possibility of bringing stockyards under a code before mid-summer is remote, an AAA official indicated today. Hearings on a code submitted by the American Stockyards Association were concluded Tuesday. Proponents said it would prevent abuses of the so-called direct purchase practice. The official pointed out that special research experts of the bureau of agricultural economics are investigating direct livestock buying and its effects on producers. The research was started only a month ago and probably will not be completed for several months, it was understood. WORLD COURT REVIVED AS ISSUE; HEARING SET Proponents to Argue for U. S. Adherence March 23. By United Press WASHINGTON, March B.—The controversial world court issue was revived today with announcement that the senate foreign relations committee would hold brief hearings on the question. Chairman Key Pittman (Dem., Nev.), said a two-hour hearing would be given proponents of American adherence on March 23, with opponents to be heard at a similar meeting later. The hearings will be restricted to arguments on the Root protocol formula for American participation. COAST PASTOR MAY BE ELECTED MODERATOR Dr. Herbert Smith of Los Angeles Favored by Presbyterians. By United Press ATLANTIC CITY, N. J„ March B.—Dr. Herbert Booth Smith, pastor of the Immanuel Presbyterian church of Los Angeles, was mentioned today as a leading candidate for moderator of the church to succeed Dr. John McDowell of New’ York. The election will be held in Cleveland May 24 at the general assembly of the church. Dr. Smith’s name mentioned here at the concluding session of the general council of the general assembly. SUE CENTER TOWNSHIP FOR $11,051.40 CLAIM Grocery Alleges Non-Payment of Relief Food Bill. Settlement of claims totaling $11,051.40 is sought in a suit brought by the Standard Grocery’ Company against Center township yesterday. The suit, filed in superior court four, alleges that groceries totaling this amount were supplied to the township for poor relief during 1933. EXCHANGE CLUB MEETS Closed Tighter Than Crown Point Jail, Says Bulletin. “Closed tighter than the Crown Point jail” will be the meeting of the Exchange Club tomorrow noon in the Washington, according to the club's bulletin, the Lame Bull. “Guests would be bored to tears,” further describes the bulletin.

IntT Harvester Johns-Man villa Nat. Biscuit Pub. S. of N J Sears Roebuck Stand, of N J. Un. Aircraft U. S Steel Union Pacific Westinghouse

HUGE MULE STRIKES. IMPEDES STREET CAR AND BATTLES POLICE

By United Press CHICAGO. March B.—Sooky, the largest mule in the William P. Sheppard Cartage Company barn, conducted a passive resistance strike on the street car tracks. The strike remained passive while four street car crews and half a dozen police strove to move Sooky. Then the street car was run up against one hind leg. A police automobile was backed against the other. Polcemen pulled at Sooky's halter. At a signal all forces went into action at once, including Sooky. When the dust cleared, the street -car bore broken windows, the police car shattered headlights, and the police had torn uniforms. Sooky had not budged off of the tracks. Police then threw a noose over the mule. Dozens of men took firm holds on the rope, but Sooky calmly walked off the tracks before they could start to pull.

$6,000-A-YEAR NRA HEAD SAYS HE WILL MAKE SIOO,OOO AGAIN

By United Press WASHINGTON, March B.—Recovery Administrator Hugh S. Johnson, who is working for the government for $6,000 a year, used to be a SIOO,OOO-a-year man, and what’s more, he is willing to bet he will make that again. Addressing the NRA industrialists’ meeting. General Johnson said: “A man may be entitled to SIOO,OOO salary from a corporation in which labor, consumers and stockholders all are interested. But he ought not to object to having everybody know it. That is the only bitter pill to swallow. As far as I am concerned, I am willing to swallow* it. I have made more than that in my time and w’ith my abundant faith in w’hat is being done here, I’ll bet I w’ill make it again.” TWO SUSPECTS HELD IN MISSOURI SLAYING Murder Warrants Sought in Brutal Killing of Capitalist. By United Press CARTHAGE, Mo., March B.—Warrants charging murder w’ere to be asked today by Ray E. Watson, Jasper county prosecutor, for the alleged slayers of Brooks L. Van Hoose, Ozark capitalist, w’ho was killed Saturday night resisting whac was either a robbery or a kidnaping attempt. Sheriff Oil Rogers held two suspects, Lew B. Harmon and Charles Napper, an ex-convict. Both, he said, had made statements which implicated themselves and four other men. LABOR OFFICIAL TO TALK Detroit Federation Attorney to Speak on Russia. “Recognition of Russia” will be the subject of a talk by Maurice Sugar, Detroit Federation of Labor attorney, at 8 Monday night before the John Reed Club, 143 East Ohio street. Mr. Sugar recently returned from the Soviet Union, where he studied labor laws operating there. The public is invited.

On Commission Row

—March 8— trims Cranberries—Cape Cod early blacks. 25lb. box. $2.50. Pears—Calavo3 a2-16-20-24si. *3 50 Strawberries—Florida. 14815 c per pint. Bananas —Per pound, oc. Apples—Wealthy. Wolf River, Grimes Golden. Jonathan, Florida. *1.353 2.15 a bu.. fancy Stavmans. *2.25 a box. Grapefruit—Texas. *3.2583.75. Oranges—California Navels. *3 50. Pineapples *3 a ta crate. Vegetables Cabbage—New Texas, half crate. *1.35. Onions —Indiana red. 50-lb. bag. $1.35 Indiana yellow, 50-lb. bag. $1.35. Beans —Round stringless, hamper. S3B Beets—Bulk per bu., $1.25; Texas, new 11.00 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-U-12sl. 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 i4-5s 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., $1.758 2. Potatoes—Northern rouna whites. 100-lb. bag. $2.25: R. R. Ohlos. 100-lb. bag. $2.30; 15-lb. bag. 40c; Idaho Russets. 100-lb bag $2.25. Sweet Potatoes—Nancy Sails, per bu.. 0

MARCH 8, 1934

WHEAT PRICES SLIP LOWER IN DULLSESSION Corn, Oats Turn Irregular; Strength in Stocks Is Ignored. BY HARMAN \V. NICHOLS I'nitrd Frrss Staff Correspondfnt CHICAGO, March B.—lmprovement in stocks and cotton failed to check wheat in its downward trend today and prices slipped further at the opening of the Board of Trade. ! s to 'i cent lower. Corn was irregular and held cent lower to *s cent higher. The market continued dull with sentiment unsettled. Many still pm hopes on inflation moves, but general opinion is that the market will lack a definite trend until crop developments furnish incentive for action one way or the other. Chicago Primary Receipts —March 7 Bushels. Today. Last Week. Wheat 257.900 321 000 Corn 23J.0U0 312,000 Oats 113.000 79.000 Chicago Futures Range —March 8— Prev. WHEAT— High. Low. 10:00 close. May .86% ,85 7 S .86>, .86% July 85 7 8 85*s ,85 3 8 .85*4 Sept 86*4 .86* 8 ,86> 2 .86% CORN— May 50* 8 .50*8 .50*2 .50% July 52 1 2 ,52*8 .52*2 .52> 2 Sept 54*8 .54*4 .54*8 .54% OATS— May 33% .33 ‘i .33% .33% July 34 .33% .33*4 .33% Se J?YE— 34 ' 33 '’ 4 ' 333 '' ' 333 * May 59*2 .59% .59% .59% July 60 60% .60% Parley-" • 62 ‘ a - 62 ’ 4 ' 62 ‘ 2 ' 62 ’* May 46*4 July CHICAGO CASH GRAIN By Lnit(d Press CHICAGO March 7.—Cash grain: Wheat —No. 1 dark. hard. 89c: No. 2 hard. 88c. ro° 3 rn ~,?? 2 mixed. 49%c: No. 3 mlxedj 48%@49%c: No. 4 mixed. 48%c: No. 2 yellow. 49 , 2 C; No. 2 yellow, old 50*20; No, 2 ''ellow. 48%®49%c: No. 3 yellow, old. 50c; No 4 yellow. 48 %r; No. 6 yellow. -1 2 mixed. 51' c: No. 3 mixed, 50% ®SO %c; No. 4 mixed. 49%c; sample ?I? d^oK ixed - 46 ’- ,c - Oats—No. 2 white. 34% @ 34* 4 c: No. 2 white fancy. 38c; No. 3 white. 34@34%c; No. 4 white. 32%®33c. 5T e —No sales. Barley—Sales. 733 81c. Tlmothv—S7.2s®7.so. Clover seed—sll® 18.6a. Cash provisions—Lard. $6.45: loos© $6.20; leaf. $6.50: S. Bellies. $8.12. ST. LOUIS CASH GRAIN By Times Special ST. LOUIS, March 7.—Cash grain: Wheat—ln fair demand, lc lower on red and %c lower on hard; No. 2 red, 89%c; nominal; No. 3 red. 88c; No. 2 hard. 87c: nominal. Corn—ln fair demand. unchanged; No. 2 yellow, 49%®50c;; No. 3 yellow, 49%c. Oats—ln fair demand. Ito 2c lower: No. 3 white. 34c: No. 4 white. 33%c; No. 1 mixed, 34c; No. 2 red, 36c. TOLEDO CASH GRAIN By Z nited Press TOLEDO, O. March 6.—Grain close: (Grain in elevators transit billingi. Wheat—No. 2 red. 91® 92c. Corn—No. 2 yellow. 54®55c. Oats—No. 2 white. 383 39c. Rye—No. 2 white. 38®39c; No 2. 66® 67c. (Track prices. 28%c rate). Wheat—No 1 red. 87%@88c. Corn—No. 2 yellow, 50® 50%c; No. 3 yellow. 48%@49c; No. 4 yellow. 47% @ 48c. Oats--No 2 white. 34%®' 36%c; No 5 white, 34®36c. (Toledo seed close). Clover —March, $8.25. Alsike—Cash. $8.50. NEW YORK CASH GRAIN By Times special NEW YORK. March 7.—Cash grain: Wheat—No. 2 red. $1.03%: No. 2 hard winter, $1.03%. Corn—No. 2 mixed, 58%c. Oats —No. 3 white, 4c%c.

Indianapolis Cash Grain

—March 7 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41 %c New York rate, were: Wheat.—W’eak; No. 1 red. 81@82c: No. 2 red. 80® 81c: No. 2 hard. 80® 81c. Corn—Weak: No. 3 white, 41®42c; No. 4 white. 40®41c: No. 3 yellow. 40®41c: No. 4 yellow. 39@40c: No. 3 mixed. 39@40c: No. 4 mixed. 38@39c. Oats—Weak: No. 2 white 30®31c; No. 3 white. 29@30e —lnspections Wheat—No. 1 red. 1 car: No. 2 red. 1 car: No. 2 hard. 3 cars. Total. 5 cars. Corn —No. 2 white. 2 cars: No. 3 whit©. 1 car: No. 2 yellow. 5 cars: No. 3 yellow, 3 cars; No. 4 yellow’. 1 car. Total. 12 cars. Oats—No. 2 white. 3 cars: No. 3 white, 2 cars; No. 2 mixed. 1 car. Total. 6 cars INDIANAPOLIS WAGON WHEAT City grain elevators are paying 77 cents for No. 2 soft red wheat, utner grades on their merits. NEW YORK RAW SUGAR FUTURES —March 7 High. Low. Close. January 1.70 March 1.53 151 1.51 May 1.57 1 54 1.56 July 161 1.58 1.60 September 1.64 1.62 1.64 December 1.69 1.67 1 69 Report of the condition of the Standard Savings and Loan Association of Indianapolis, Marion County, Indiana, at the close of business on Dec. 31, 1933. RESOURCES Cash on hand and due from banks $ 716.27 Insurance and taxes advanced. 88 56 Mortgage loans 243.590.00 Stock or pass book loans 200.00 Other real estate —book value. . 36.573.35 Real estate sold on contract .. 1,061 19 Furniture and fixtures 160.00 Total $282,389.37 LIABILITIES Book value of Installment shares $214,077.91 Book value of loan shares 46.275.30 Borrowed monev (individuals).. 5.000.00 Contingent fund 10 000.00 Undivided profits 6,633.07 Deferred profits on sale real estate 403 09 Total $282,389 37 State of Indiana. County of Marion, ss: We, the undersigned officers and directors of the Standard Savings and Loan Association, of Indianapolis. Indiana, do solemnly swear that the above statement Is true. [SEALI MOSES WOLF, President. GEO C. SCHAUR. Secretary, WILLIAM J NEU. Director. JOSEPH H. SCHAUB, Director. ANDREW J. WEISS, Director. Subscribed to and sworn before me this 6th day of March, 1934. My commission expires Jan. 18. 1935. CECIL P. HUDSON. Notary Public.

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