Indianapolis Times, Volume 45, Number 267, Indianapolis, Marion County, 19 March 1934 — Page 8

PAGE 8

Wall Street Van Sweringens Work Out Unique Plan in Attempt to Hold Railroad Empire Together. " BY RALPH HENDERSHOI Timet Special Financial Writer

The Van Sweringen brothers, of Cleveland, appear to be well cn their way toward saving the huge railroad empire they built up in recent years. They have just presented a plan to Alleghany Corporation stockholders which should ease the tension materially when anybody is concerned Moreover, the plan represents anew idea entirely in corporate financing, and it would be surprising if other concerns m financial difficulties did not work out their problems in similar fashion. If the stockho’ders approve holders of the company's 5 per cent bonds cf 1950 will be asked to exchange the coupons for the next five years on their bonds for a newly created preferred stock which will take prece-

dence over all classes of stock now outstanding. The new stock also will be convertible into common. Holders of these bonds also will be given the privilege of converting their bonds, minus the coupons, nto common stock of the company at any time up to 1944. Under the plan the company’s fixed charges are reduced during the next five years, and the danger of default cn interest payments is greatly lessened. With this danger reduced, or perhaps eliminated, the Van Swerir.gen loans with the bankers are safer, and the bankers ;ste much moe likely to continue to accept new notes in payment of interest on the loans already outstanding. a a a To Be Paid in Advance The bondholders, who apparently run the risk of receiving no interest on their holdings, will receive payment in advance on their coupons, even though ! in stock, and they are given, through the conversion

Rilph Heudershot

privilege, a call on common stock, which might become quite valuable in case business continues to improve and the railroad properties earn more money. Stockholders who are asked to assent to the plan are in a better position if the company's bcr.ds are not allowed to default, even though additional shares are created to take precedence in dividends and in every other way over those they now hold. In the light of known facts today it undoubtedly was a mistake to ever build such a complicated and delicate capital structure as the Van Sweringens created in their railroad holding companies. Had the depression not occurred when it did, however, the situation might have been entirely different. A few years more cf good business might have put them in a position to withstand such a period as we are now going through, so their mistakes probably can be attributed largely to bad judgment on the business outlook. But, then, few people foresaw the depression or realized how severe it was going to be. a a a a o No Prospectus Need Be Filed An interesting sidelight on the new Alleghany plan is the question Os whether or not the company will have to file a prospectus with the federal trade commission before making it operative. Stockholders were not advised that such a procedure was proposed, however, and the general opinion in the Street was that it would not be obliged to do so. The company is not selling the stock, but rather is presenting it to bondholders in exchange for their coupons. Consequently, it is claimed that it does not come under the provisions of the securities act of 1933.

New York Stocks (Bv Abbott. HoDDln Sc Cos.)

—March 19— Prev. Oils— High. Low. 10:30. close. Amerada 49 Atl Rig 30% 31 Barnsdall 8% Consol Oil 12 >* ,12 Cont of Del 18% 'lB% Houston inewi 4% . Houston i old 25 3 a Mid Cont Pet (12% Ohio Oil .. ... ... 13*4 Pet Corp 12% Phillips Pet 17*2 174 s Pure Oil ... 12*2 IC% Sod Oil 34% Simms Pet 10 Skeiley Oil JO Soc Vac 16% 16's S O of Cal 37% SOof N J 44% 45 Sun Oil 53 . ■ Texas Corp 2t> s 26% Tidewater Assn H*a 11% Un Oil of Cal .17 16% 16 a 16'8 Am RoVMills . 23% 23 23 23% Beth Steel 41% 41% 41% 42 % Byers A M 27 Col F <5: I 6*2 6*2 Inland Steel 43 McKeesport Tin •• Natl Steel 48 48% Rep I& S-. 21 20 s * 20% 21% Rep I& S pfd.. a9 08-2 si*2 60 U S Smelt ... 120% 119 119 120 Vanadium 26,2 2b a Mid Steel 17 IS Shell Un .... 9 I U S Pipe & Fd ... •• • 2b 26% U S Steel ... 50% 50% 50% 51% U S Steel pfd •. • • ■ “l Youngt'n &T. 27% 27 27 27 2 Raili, — - cl/ Atchison 66 ”2 8 bVo URe .:: 29*2 '29% '29% 29% Cn 11 & Pj Ohio"’’” 44% 44% 44% 44% Chi & Gt W 4% CM& St P 6% 6% CM& St P pfd 10*2 11 Chi N W 13% 13% Chi R Isl -i Chi R I 7V pfd * * Dela & Hud 5;,f JJf jg ••• ••• “*.4 &“c!SSi p “.: an ’• -iis B ifVl ii’4 ’ -.11 %.* Mo Pac • ••* ••• 1 Mo Pac pfd ... * 2 N Y Cent 36 35 35 * 3< N Y C & St L 21 a ... N Y Y C New 1 Haven 18% 18% 18% 18% Penn P ß R"" 34% l\ % ISu Pac .... 27 27*. 27 27 27% ISu R R 31% 31% 31*2 31% Sou R R P*d .. ■ • ... 1971. Union Pac 127 126 126 12, 2 West Mary 14 * 1* 8 Motors— E.3, Chrysler 51*2 51% 51 a ft. * Gen Motors 3b 4 Jb a Graham Mot .S' 8 Hudson lg 5 . *s3* mS Truck.';;: 32% '32*2 32% 33** Packard - - ••• 5 % 5% Reo Studebaker ‘ * l.' Yellow Truck ••• 3 ■* 0 8 Motor Access— Bendix ••• 18 s Bohn Alum 2? 8 Borg Warner 23 " isgp Wheel:::.:-:: ::: ” \ HAufo K Li:: 27% '27% 27% 28 Houd A 53 * .g 3B Mullins Mfg • • „ Murray 80dy... 9% 9% Stew Warner.... 8% 8% 8 a 8 4 Timken 83 Alaska' n jun 21% 21% 21% 21% Am Smelt 42% 42-4 42% 43% Ar.aconda I - * 8 1? 8 Cal & Hecla 3 , Cerro de Pasco Granbv Jih 8 Gt Nor Ore 8 Homestake Min. , “°o Howe Sound -i Ins Copper - 3 Kennwott Cop" 19*2 'l9*. ]?% Noranda Cop 38 2 3,4 Phelps Dodge... •• ••• ••• 16 Tobaccos — , Am Sum Tob ..... I°* Am Tobacco A Si, Am Tob 69% * 9 % Gen Cigar * Llgg & Myers B 88 2 88 a Lorrillard • •• J 8 * Revnolds Tob B. •• ... ■• 40% Equipments— Allis Chalmers 18 a 19 a Am Car & Fdy -84 Am Loco , 3 3 . 8 Am Steel Fdv... - - 21 21% Bald Loco 13% 12-a 12% 13 4 Burroughs 16 8 *P‘ ■* Case J I 2 Cater Tract 29% Coigat Palm Peet 16% Congoleum 2. % Elec Stor Bat 4b% Poster Wheeler 19% 19 Gen R R Slg •• ••• • 43 Gen Am Tank C 39% 39% Gen Eiec \ ••• 21% 21; a in’ Harvester .. ■ ■ • • 40% 4l* 2 Keivmator • 19% 19*2 19% 20 Natl Cash Reg . 19*4 19 19 19% Free & Gamble.. .. Pullman Inc 56 56 Simmons 8ed...... ... • - - *0 Und Elliot 44 West A:r B 30 30% Westir.gh Elec .... ... 3,% 33 Utilities — Am A’ For Pwr 10 10% Am Power & L 9% 9-* \ T <st T .... ... 118 118% Am Wat Wks 20*2 20% Brook Un Gas 73 Col Gas &El 15% lft% Com A Sou 2% 44 Cor.sol Gas •. •• ••• 3 5, 8 39 % Bee Pwr .*2 W p A- L Dfd • 14 *2 Int TA- T ... 14*2 14% 14% 14*2 Nat Pwr & Lit 11 • 11 * Pac GA- E 19% 19% Pub Serv N J 39 So Cal Edison 18 a 18 a Std Gas 12 8 J 3 Std Gas pfd 13 Utllted Corp ® * ,2 Un Gm Imp 1* l'% Ut Pwr A Lit iAi 4*a Western Union 33 % Bobbers — Ooodnch „ * Good v ear 3- f* U S Rubber . . - • • 19% U S Rubber pfd 44 43% 43% 44% Kei Spring 3% 3% Amusements— Croslev Radio 13 4 Fox Thea % • • 15% Loews Inc 31% 31 31 a 31 2 Radio Corp .... .7% 7% 7% ,% Warner Bros 6 % r*ed* ... SSsSS Prti ::.'2!9 "n 23’ 1|,4 :: ::: Coca Cola ••• ••• MS X

Cont Bak A 12% Corn Prod 72 Crm of Wheat. 32% Gen Foods 33% Gold Dust 19% 20 G W Sugar 26% Loose Wiles ... 42% Natl Biscuit 42% 42% Natl D Prod 15% 15% Purity Bak 15% S Porto Rico Sug . .. 32% Std Brands .... 21% 21% 21V2 21*2 United Fruit 66% Wrigley 59 Retail Stores— Asso Dry Goods 15% Best & Cos 32 Gimbel Bros 5% Hahn Dept Sts 7*/8 7% Jewel Tea 45 Kresge S S 19% 19% Kroger Groc 30% 30% 30% 30% Macy R H 54 May Dept St. 40% 41% Mont Ward 31 30% 30% 31% Penny J C 65% Safeway St 52 Sears Roebuck 47 47% Woolworth 50% Aviation— Aviation Corp 8% 8 Douglass Air ... 26% 26 26 26% Curtiss Wright ... ... 4 4*/4 Curtiss Wri iA). . .. 10% 10% Nor Am Av...... 6% 6% 6% 6% United Aircraft.. 23% 23% 23% 23% Chemicals— Air Reduction 97% Allied Chem 148% Am Com Alcohol 50 % Col Carbon 68V2 69 Com Solvents... 27% 27% 27% 27% Dupont 95% 96 Freeport Tex 43 Liquid Carb 27% Math Alkali 34% 34% Tex Gulf Sulph.. . .. 36% 36% Union Carbide . 43% 43% 43*2 43*2 U S Indus Alco 54 54 Natl Dist inewi 28% 28% 24% 28% Drugs— Coty Inc 7% Lambert ... .. 28% Zonite Prod .... 7% 7% 7% 7% Financial— Adams Exp ... ... 954 Allegheny Corp. 32% 2% 2% Transamerica 7% 7% Tr Conti Corp 5 Building— Am Radiator 14% 14^ Int Cement 30 Johns Manville 57 57*4 Libby Owens Gls 36% 36% Otis Elev 16% ... Uien Const 414 Miscellaneous— Am Bank Note 18% 18% Am Can 97% 97*4 97% 98 Anchor Cap 20% Brklyn Man Tr 30% Conti Can ... 77% 77 Eastman Kodak 89% Owens Bottle 85 85 Gillette 10% 10% Glidden 23% 23% 23% 23% Gotham Silk 9% Indus Rayon 84*2 Inter Rapid Tr. .. 9% New York Curb (By Abbott. Hoppin & Cos.) —March 17— Close: Close Am Cyanide B 17% Hiram Walker.. 46% Am G & El . 27%!Hud Bay Min... 11% Am Superpower 3*.' Humble Oil ... 40’Ass G & El I', Imp Oil Ltd ... 13% Atlas Corp ... 13% Int Petrol . .. 22% Brit Celanese . 3% Lake Shore Min 49% Can Marc 3% Lone Star Gas 6% Carrier Corp .. B*4 Natl Bell Hess. 3% Cities Serv 3% Nia Hud Pwr . 6% Commonwth Ed 56 Novadel Agene . 67 Con G of Balt 60 PSn-Am Airwvs 39 Creole Petrol 11*4 Park Davis ... 21% Cwn Cork Int. 7% Penn Road 3% Deere A- Cos .. 29% 5t Regis Paper 4 Distill Lim ... 22% sal Ck Products 6% Distill Corp ... 20% Sherwin Wms. 63% El Bnd &8h .. 17% std of Ind 27*4 Fisk Rubber .. 18% 3rd of Kv 16% Ford of Can A 22*; reck Hugh Geld *% Ford of Europe 7 Un Gas 3% Gon Aviation 6*4! Jn P&Lt A.. 4 Glen Aiden Coal 18% Wright Har Min 9% Gulf Oil of Pa. 68% Federal Farm Loan Bonds (By Blvth & Cos.. Inc.) —March 17— Bid. Ask. 4s Nov. 1. 1957-37. 96*2 97% 4s May 1. 1958-38 96*2 97% 4 * 4 s July 1, 1956-36 96% 98 4%s Jan. 1, 1957-37. 96% 98 4%s May 1. 1957-37. 96*4 98 4%s May 1. 1942-32 98% 100 4%s Jari. 1. 1943-33 98% 99% 4%s Jar,. 1. 1953-33 98'-* 99% 4%s July 1, 1953-33 98*4 99*2 4%s Jan. 1. 1955-35 98% 99% 4%s July 1. 1953-33 4%s Jan. 1. 1954-34 99% 100% 4%s July 1. 1954-34 99*2 100% 5s May 1. 1941-31 100% 101% 5s Nov. 1. 1941-31 100*4 101*4 Home Loan 4s. July 1. 1951 . 97% 98 Fire Reports Saturday 532 a m . 2013 West Michigan, residence. $350. 600 a m.. West Minnesota and Holt road, small loss. 10:00 a. m.. Arlington and lona, grass fire. 10 43 a. m.. Thirty-ninth and Arlington. grass fire. 10 58 a. m,. Forty-sixth and Guilford, false alarm. 1133 a. m.. 4700 East Washington, grass fire. 1138 a. m.. 2027 North Talbott, residence small loss. 11:42 a. m.. Fifteenth ar.d Chester, grass fire. 12 07 p. m., 4073 Rookwood. residence, small loss. 12:12 p. m„ 466-68 West Twentv-flrst. residence. $25. 12:48 p. m.. 217-19 North Rural, grass fire. 139 p. m.. 1400 North Illinois, false alarm. 3 22 p. m.. Thirty-eighth and Sherman, grass fire. 3:25 p. m.. 700 North Concord, grass fire. 401 p. m. Sixtieth and Washington boulevard, grass fire. 4:02 p. m.. 3300 Fall creek, grass fire. 4 32 p. m . Fifty-sixth and North Meridian. grass fire. 5 33 p. m . 1915 College, residence. $lO. 625 p m.. 725 North Pennsylvania, Y. W. C. A., small loss. 643 p. m.. 1470 North Pennsylvania, residence, small loss. Sunday. 2:36 a. m.. 4133 Rockville road, residence $l5O. 821 a m. 2133 Central, residence, no loss. 9.30 a. m.. 708 West North, residence, no loss. 9:50 a. m.. 3077 North Delaware, apartment. small loss. 10:35 a. m., 254 North LaSalle, residence, no loss. 1-

LABOR DISPUTES CHECK TRADING ON NJfJOARD Most Sections Move Lower in Active Session; Rails Weak. Average Stock Prices Average of thirty industrials for Saturday: High 102.76, low 101 24. close 101.65, off' 1.07. Average of twenty rails: 48.89, 48.27. 48.40. off 37. Average of twenty uulities 26.67. 26 28. 26 33. off .24. Average of forty bonds: 53.40, up .02. Average oi ten first rails: 98.44. off .03. Average of ten second rails: 83.57, up .08. Average of ten utilities: 96.04, up .10. Average ox ten industrials: 95.55. off .07. BY ELMER C. WALZER United Press Financial Editor NEW March 19.—The stock market opened lower today in fairly active trading. Wall Street nervously watched progress of various labor disputes. Chief interest centered in the labor conference of the motor car industry in New York, the impasse between railroads and union workmen over the present 10 per cent wage reduction and the labor conferences of the American Iron and Steel institute over the Wagner labor bill. While Wall Street has never indicated a policy of “selling on strike news,” potentialities of the labor difficulties are so great as to curtail any trading. This resulted in the slow' drift of the market to lower zones. Motor shares were among the leaders downward, Packard was off 14 at 5 1 4 on 2.000 shares; Chrysler lost % of a point to 51 Vi; Auburn was off IVs at 52Vi; Studebaker lost fractionally; General Motors declined % of a point at 36 Vi while Mack Truck had a fractional decline at the opening. United States Steel dropped V 2 point to 50 %, Bethlehem Steel was 1 1 4 points lower at 41% and Republic Steel was off % of a point at. 21. Youngstown Sheet and Tube was fractionally lower around 27. Elsewhere in the list losses ran to almost 2 points. J. I. Case w r as down 2 at 68’2. Rails showed fractional declines as did utilities. American Telephone was off % at 118 and Consolidated Gas of New York off % at 38%. United States Smelting gained % to 120%. American Smelting declined 3 4 to 42Vi. Aircraft shares also were mixed. Liquor stocks showed fractional declines. Trading quieted after the opening with prices slightly lower. Bank Clearings INDIANAPOLIS STATEMENT —March 19— Clearings $1,663,000.00 Debits 4,814,000.00 TREASURY STATEMENT By United Press WASHINGTON, March 19.—Government expenses and receipts for the current fiscal year to March 16, compared with the corresponding period of the previous fiscal year: Expenses. $4,589,680,132.69 $3,595,878,178.01 Receipts.. 2.132.545.082.74 1,361.597,414.87 Deficit . 2,457.135.049.95 2,234,280,763.14 Cash bal. 4,795,444,025.50 New York Bank Stocks (By Abbott, Hoppin & Cos.) —March 17— Bid. Ask. Bankers 64 l /2 65*4 Central Hanover 128*/2 129*4 Brooklyn Trust 95 97 Chase National 1774 28*4 Chemical 40*4 40 5 4 National City 29% 3074 Corn Exchange 56 57 I Continental 1374 14% Empire 19 19% First National ~1,695 1,710 Guarantty 341*4 343*4 Irving 17 17*4 Manhatten & Cos 31*4 3174 Manufacturers 21% 22*4 New' York Trust 100*4 101*4 Public 29*4 29% Foreign Exchange (Bj t Abbott, Hopoin & Cos.) —March 17— ‘ Close. Sterling. England $5.09*4 Franc. France 0657% Lira. Italy 0857 Belgios. Belgium 2331 Mark, Germany 3969 Guilder, Holland 6735 Peseta, Spain 1363 Krone, Norway 2560 Krone, Denmark 2278

U. S. Government Bonds

Bn United Press NEW YORK, March 17.—Closcing Liberties. (Decimals represent thirty-seconds): LIBERTY 3%s (32-471 103.3 First 4%s (32-47) 103.7 Fourth 4%s 33-381 103.13 TREASURY 4%5, 3‘ 4 s (45) 10129 4%s (47-52) 110 12 3%s (41-431 March 102.14 3%s (40-43) June 102.19 3*4S < 411 102. 3%s (46-49) 100.27 3s (51-551 99.12 Investment Trust Shares (By Abbott, Hoppin & Cos.) —March 17— Bid. Ask. American Bank Stocks Corp 1.15 1.20 American & General Sec A... 5.00 7.00 American <sc Inv Tr Sh 1.50 Basic Industry Shares 3.43 3.48 British Type Inv Tr Sh 60 .64 Collateral Trustee Shares A.. 4.75 4.87 Corporate Trust Shares (oldi 2.12 2.16 Corporate Trust Shares (new) 2.40 2.43 Cumulative Trust Shares 4,10 .... Diversified Trust Shares A-- 6.25 Diversified Trust Shares 8.. 803 8.12 i Diversified Trust Shares C .. 3.23 3.27 Diversified Trust Shares D . 4.92 4.98 First Insurance Stock Corp... 1.30 1.34 First Common Stock Corp ... .83 .87 Fixed Trust Oil Shares A ... 8.62 8.87 Fixed Trust Oil Shares B 7.40 7.65 Incorporators Investments ... 6.87 19.12 Land Bank Bond Shares 1.03 1.14 Low Priced Trust Shares 6.30 6.40 Mass Inv Trust Shares 19.07 20.73 Nation Wide Securities 3.46 3.52 North Am Trust Shares (53).. 1.88 .... North Am Trust Sh (55-56 (.. 2.41 2.45 North Am Trust Shares (58). 2.53 2.57 Selected American Shares . . 1.18 1.23 Selected American Shares Inc 2.62 Selected Cumulative Shares . 7.12 .. . Selected Income Shares 3.50 7.75 Std American Tr Sh A 2.96 3.00 Trust Shares of America 2.87 2.92 Trustee Std Oil A 5.55 5.65 Trustee Std Oil B 5:15 5.20 U S Elec Lt & Pwr A 12.37 12.72 Universal Trust Shares 3.07 3.12 CHICAGO FRUIT MARKET By United Press CHICAGO. March 19.—Apples—Michigan Baldwins. $1.40(51.50 bushel. Carrots— Eiinois. 40 ■< 50c bushel. Spinach—Texas. 65 -n 90c bushels. Beans—Southern green, $2 75'-; 3.25: wax. S3 5 3.25. Cucumbers— Central western hothouse. $2 255 275 two dozen to box. Tomatoes—Florida. $2.2541 2.35 box. Sweet potatoes—Tennessee. $165: Indiana. $1.65 and 1.75. Rhubarb Michigan hothouse. 20', 1 35c. five-lb. cartons (. Rutabagas—Michigan hothouse. 75 '<i 85c five-lb sacks. Turnips—Cent-al western. 40 i7sc bushel. Mushrooms—lllinois. 17% 30c lb. carton. Asparagus California. $1 50 .-3 25. Onion market (50lb. sacks): Western Valencias. 90c551.30central western yellows. 75(g90c. „ NEW YORK COFFEE FUTURES —March 17— Santos High. Low. Close. March 10, 51 May 10.69 July 10.84 10.80 10.84 September 1115 11,11 11.14 December 14.25 11.21 11.25 , Rio January v 8.62 March 8 22 May 8.26 8.25 8.26 July 8.37 September • 8.47 December W 8.59 3.57 8.57

THE INDIANAPOLIS TIMES

Chicago Stocks “* Bv Abbott Honnir Si Cos. TOTAL SALES. 2.V009 SHARES. —March 17— American Yvette 3*4 3*4 3*4 Bast;an-Bl£ss;r.g . 7 I Bendix Aviation 19% 18% 18% ! Binks Mfg . 2 Borg-Warner 25*2 25 25 Bitler Bros 10% 10*4 10*2 Cent 111 Pub Serv pfd . . 18% Cent Xnd Power pfd .. 11*4 11*4 11*2 Cent & Cos West pfd 5% Chi & North Western 13% Chi Ctv Sc Con Rvs Ctfs % Chicago Corp Com 2% Chicago Corp pfd 23 Cities Service 3 Commonwealth Edison 56 55% 56 Consumers .. 58 Cord Corp 6% 6% 6% Gen Household Ut 13% 13 13% | Genera! Candv Corp .. 6% 6*4 6% i Godchaux ‘‘B” 10% 9 9% I Goldblatt Bros .. 17% 17% 17% i Great Lakes Dredge .. 18 17% 17% ! Hart-Carter pfd . . ... ... 7% Houdaille-Hershev "B” 6 Kntuckv Ut Jr Cum pfd . .. 18 Llbbv-M'-Neil 5% 5*4 5*4 Lvnch C>rp .. 33*4 Marshall Field 13 17% 17% Middle West Utilities . % Monroe Chemical pfd 33% National Leather 2 National-Standard 23% National Union Radio % Northwest Bancorportn. •• ... 5 Oshkosh Overall 574 5 5% Pines Winterfront J% Potter Cos 5% Prima Cos 9% 9% J% Public Service N P .. . 19% Public Service 7% pffi . 65 64 65 Quaker Oats / IJ<*% Reliance Mfg Cos 18% 17% 17% Southern Union Gas ... 2 174 2 So West L & P Pfd .. 31 Storkline Furniture ... 6 5% 6 Swift &Cos 16% 16*4 1674 Swift International .... 28 27% 27% Thompson JR , •.•■ ?% Utilitv & Ind pfd 47* 4 4 Vortex Cup Cos “A” 26% y/ahl ... It* Waukesha Motor HO Zenith Radio -V 374 - Bond Prices (By Fenner & Beanei —March 19— High. Low. 10:30 Alleg Corp 5s ’SO .. 34% 34 74 34% Am & For Pw 5s 2030 50 Atchison Gen 4s ’95 ..100*4 10074 100*/* B & O cv 474s ’6O . 69% 69 69 Beth Steel 5s A ’42 92 C an Pac 4c ’7 .. . ... ... 8J ChMStP&P ad 5s A 2000 18% 18% 18% ChMStP&P rs 5s A ’75 52 51 51% Erie RR rs 5s ’67 73 7274 <2% Goodvear 5s 57 97 4 fn\ TANARUS&T 4 db s 5s 66% ' 66 % g% McKees & Robb s*4s ’0 .. ••• ** Nat Dairv lb 574s '4B . - 91% N Y Cent 4%s O 2013 8074 80 80 Para Pub 574s ’SO . 50 Penn R R 474s D 'Bl 95% Sin Cons 574s B ’3B JSfs 2 Texas Corp 5s '44 10* Un Pac Ist 4s ’47 • 99 * Youngstn S&T 5s B 70 .. ... 87 On Commission Row —March 17— Fruits Apples—New York Baldwins, fancy, $1.60; fancy Staymans $2.25; fancy Winesaps, $2.60. Oranges Caliofrnia Sunkist, s3©4, Floridas, [email protected]. Lemons —Sunkist, $6; Red Ball, so.oo. Grapefruit—Arizona seedless 80s, Florida, $3.25. _. Strawberries —Florida,' pint, 17c, 36-pt. crate, $5.50@6. „ _ , Cranberries —C. C. Howes. Eatmore, 25lb. box, $2.50. Melons —Argentina Honeydews, *2.75. p ears —Florida. Avacados, $2.50; Calavos $3.50 per box. Bananas —Per pound. 5 cents. Vegetables^ Cabbage—New Texas. $1.25 per halfcrate: Florida red, $3.50 per hamper. Celery—Florida, $2.50©3.25 a crate, mammoth bunch 75c; medium bunch, 45c; hearts, dozen bunch. $1.35. Onions —Indiana yellow. 50-lb. bag, sl.Jo, red. $1.35; lowa white. $3. Potatoes—Northern round white. 100-lb. bag $2.10; Red River Ohios, 52.30; Maine Green Mountain $2.50; Coloraao McClures. $2.35; Idaho Russets, 52_35; Wyoming Triumphs. 50-lb. bag. $1.20, New Florida Triumphs, $1.90. Sweet Potatoes—lndiana Jerseys per bushel. $2; Porto Ricans, $1.85. Asparagus—California select, crate, $4. Beans—Round, stringless, [email protected], new lima, $3. , .. ... Beets—New Texas. 3 dozen crate. $1.50, bulk per bushel $1.50. Carrots—California 6 dozen crate, $3.25, bulk new, $2; bulk old. $1.15. Cauliflower—California, $1.60. Cucumbers —Hot house per dozen, sl-25. Lettuce—Hot house. 10-lb. basket. iOc; Iceberg best. $2.75®3.25 a crate. Peas—3o-lb. hamper, $2.75. . Radishes—Hot house buttons. 45c a dozen; long white, 40c per dozen. Rhubarb —Hot house, 45c a bunch. Spinach—New Texas. $1 per bushel. Tomatoes —Repacked, 10-lb. carton, si; selected, cellophane wrapped $1.20; original Florida, 20-lb. lug. $2.

In the Cotton Markets

—March 17— CHICAGO High. Low. Close. January 12.69 12.63 12 - 63 March •••••••••••••• • . - • 12.14 May 12.29 12.18 12.22 July 12.40 12.30 12.32 October 12.52 12.44 12.47 December 12.84 12.56 12.58 NEW YORK January 12.62 12.50 12.52 March 12.05 12.04 12.04 Mav 12.21 12.10 12.13 July 12.33 12.21 12.24 October 12.47 12.35 12.36 December 12.57 12.47 12.47 NEW ORLEANS March ■ 12.10 Mav 12.21 12.12 12.14 July 12.31 12.22 12.33 October 12.44 J 2.34 12.35 December 12.54 12.43 12.44 Retail Coal Prices The following prices rerpresent 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 § 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 8.2§ 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. Produce Markets Delivered in Indianapolis Prices—Hens, lie, Leghorn hens. Bc. Leghorn spring-er-stags. 6c; large springer-stags, 9c; cocks. scg Leghorn cocks. 4c: ducks, full feathered and fat. 4*2 lbs. and over 7c. geese. 6c: voung guineas, 1% to 3 lbs.. 30c; old guineas. 20c. No. 1 strictly fresh country run eggs, loss off 14c each full case must weigh 55 lbs. gross; a deduction of 10c a pound for each pound ufider 55 lbs. wil lbe made. Butter—No. 1. 30@ 31c: No. 2. 27@28c; butterfat. 23c. —Quoted by Wadley. Bv United Press NEW YORK. March 19.—Potatoes Steady; Long Island. $2412.50 barrel; southern, $4.50 barrel; Maine, $1.35414 barrel; Idaho. $2.2515 2.30 sack: Bermuda, $545 7.60 barrel: Canada. $2.15(52.25 barrel. Sweet potatoes—Quiet: Jersey basket, 40c®51.75; southern basket, $3.40451.25. Flour— Steady: springs, patents, $6.50156.75 sack. Pork—Dull: mess, $20.25 barrel. Lard— Quiet; middle west spot, $5.15455.25 per 10 lbs. Dressed poultry—Quiet; turkeys, 18%4i25c; chickens, 94;28c; broilers, 144i 30c; capons. 19©33c; fowls. 134i18c: Long Island ducks, 14%4j15%c. Live poultry— Quiet: geese, 7© 9c: turkeys. 2545 2'Bc; roosters, 10c; ducks. 8f512c: fowls, 134(16c; chickens. 154518 c; capons, 27c; broilers, 10 (525 c. Cheese —Quiet: state whole milk, fancy to specials, 194520 c; young Americas. 15%4515%c. CHICAGO. March 19.—Eggs—Market, steady: receipts, 24.825 cases; extra firsts, 17%c; fresh graded firsts. 17%c: current receipts. 16%c; dirties, 15%c; checks, 14.%c. Butter—Market, steady: receipts, 9.081 tubs; storage standards (90 score), 23%c: extra firsts. (90-91*2 scorei. 23*245 24c; firsts (88-89*2 scorei. 22%®23c: seconds 1861587% score). 22c: extras (92 score), 24%c; specials, 24%4525%e; standards. 24 %c. Poultry—Market firm; receipts eight trucks. 3 cars due: turkeys t young toms and hensi, 205 21c: old turkey toms. 14c; Leghorns. 12c; ducks, 155 18c: roosters. 10c; colored springers, 17c; Plymouth Rock broilers, 26c; geese 12c: heavy hen chickens. 13%c. Cheese— Twins. 14* 2 4i 14%c: Longhorns. 1545 15%c; daisies. 1545 15%e. Potatoes—Old stock—supply heavy; demand and trading moderate: market slightly weaker; Wisconsin Round Whites and Michigan rural Russets Sl.SOa 1.55 Minnesota Cobblers. $1.80; Minnesota Red River Ohios, $1.70: Washington Russets, combination grade. SI 75: Idaho Russets 51.754? 1.85. mostly $1.8045 1.85. commercial grade $1.6051.65 New stock—Supply moderate: demand and trading moderate: market strong; sales to jobbers Florida bushel crates. Bliss Triumphs. $1.5551.70. CLEVELAND. March 19.—Butter—Market, steady: extras. 28%c: standards, 28%c. Eggs—Market, steady, extra white. 17%c: current receipts, 17c. Poultry—Market barely steady colored fowl medium, 16c: Leghorn fowl 3*2 ibs. and up. 134514 c; Leghorn fowl light, I2e; springers smooth. 16c: capons 8 lbs. and up. 22c: colored broilers. 27528 c; stags, !2c; roosters. 9c; ducks white 5 lbs. and up, 17518 c; ducks light, 16c; geese, 124513 c. Potatoes— Maine, [email protected]: Idaho. $2<52.10: lew $2.25, Ohio a&h New York best, $2.

SWINE VALUES RISE 10 CENTS; VEALSSTRONG Cattle Prices Unchanged: Lambs Stationary at $9 Down. Pork values advanced 10 cents over Saturday's average in initial trading at the Union Stockyards this morning. Receipts were extremely light for a Monday session, and demand continued strong. Bulk of all weights was selling at $4.40 to $4.65, while few good butcher classes were reported salable at $4.75. Lighter kinds, weighing 130 to 160 pounds, sold at $3.50 to $4. Small slaughter pigs, 100 to 130 pounds, were selling at $2 to $3.25. Receipts were estimated at 4.000. Holdovers, 151. Early sales were light in the cattle market, with most grades unchanged at the previous close. Quality consisted mostly of common and medium classes. Few steers were salable under $6. Receipts numbered 500. Veal prices displayed an increase of 50 cents, with most all grades selling around $7.50 down. Few choice kinds were reported at $1 higher. Initial top was SB. Receipts were 300. Only slight change was evident hi the lamb market with early quality being considered. Several grades remained inactive. Few classes were salable at $9 down. Receipts were 400. Asking on hogs at Chicago was strong to around 10 cents higher than Friday’s average. Better grades scaling 200 to 230 pounds were bid in at $4.50 to $4.55. Receipts were estimated at 22,000, including 7,000 directs; holdovers, 2.000. Cattle receipts were 13,000; calves, 2,000; market, strong. Sheep receipts numbered 14,000; market, unchanged. M arctl -. ..Bulk. Top. Receipts. }3- $4.40® 455 $4.60 6.000 4 83 4 .500 15. 4.504/ 4.7a 4.90 4 500 16. 4.40© 4.65 4.75 6.000 17. 4.30© 4.55 4.60 2,000 19. 4.40© 4.65 4.75 4,000 Market. Higher (140-160) Good and choice .. $3.75® 4.00 —Light Weights—--1160-180) Good and choice... 4.40® 4.50 (180-200) Good and choice ... 4.60 " —Medium Weights—-(2oo-220) Good and choice ... 4.65 (220-250) Good and choice ... 4.65® 4.70 „ —Heavy Weights—--1250-290) Good and choice ... 4.65® 4.75 (290-350) Good and choice ... 4.50© 4.65 —Packing Sows—(3so down) Good 3.50® 375 '250 up) Good 3.23© 3.50 (All weights) Medium 3.00® 3.50 —Slaughter Pigs) (100-130 Good and choice .... 2.10® 3.25 CATTLE Receipts, 500; market, steady (1,050-1,100) Good and choice $6 25® 725 Common and medium 4.25® 6.25 (1,100-1,500) Good and choice 6.00© 7 50 Common and medium 4.50© 6.00 (675-750) Good and choice 5.25© 6.50 Common and medium 3.00® 5.25 (750-900) — Good and choice 4.75® 6.25 Common and medium 2.15® 4.75 —C o ws— Good 3.25® 3.75 Common and medium 2.75® 3.25 Low cutter and medium .... 1.50® 2.75 —Bulls (yearling's excluded) Good (beef steers) 2.75© 3.50 Cutter, common and madium .. 1.50® 2.75 VEALERS Receipts, 300; market, higher. Good and choice $7.00® 800 Medium 4.50© 7.00 Cull and common 3.00® 4.50 —Calves—-(2so-500) Good and choice 7.00® 7.50 Common and medium 2.00© 3.50 —Feeder and Stocker Cattle—-(soo-900) Good and choice 4.00© 5.25 Common and medium 2.75© 4.00 (800-1.500) Good and choice 4.00® 5.25 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts, 400; market, steady. (90 lb. down) Good & choice $8.75® 9.25 (90-110 lbs.) Good and choice 8.50® 9.00 (50 lbs. down) Com and med.. 6.50®8.50 —Ewes— Good and choice 4.50® 5.50 Common*and medium 2.50® 4.50

Other Livestock By United Press EAST ST. LGUIS, March 19.-‘-Hogs—Re-ceipts, 7,500, including 200 direct; market, opened around 5c higher than Saturday; pigs and light lights slow; few sales steady to 25c higner; sows were strong to 10c higher; bulk. 190-250 lbs., $4,604/4.65; top. s4.t>s; few 280-325 lbs., $4.2554.50; 150-1/0 lbs,, $3,754/4.40; some higher; 100-140 lbs., $2.5053.50; sows mainly $3.505 3.65. Catttle—Receipts, 3,000; cailves, 2,000; market, steers slow with a few early sales about steady at $4455; quality mostly common and medium; other classes generally steady with close last week; mixed yearlings and heifers, 54.254/5.25; cows, $3453.75; low cutters, $1.2551.75; top sausage bulls, $3.25; top vealers, $6.75; nominal range slaughter steers. $3.75 57; slaughter heifers, $3.2556.5. Slaughter steers, 550-1,100 lbs., good and choice, $5,754/7; common and medium, $3.7555.75; 1,100-1,500 ibs., choice, $5.7557; good, $54/6.50; medium, 4.504/5.75. Sheep—Receipts, 3,000; market, no early sales or bids; packing talking lower on lambs; asking fully steady to strong; lambs, 90 lbs. down, good and choice, $8.75 5 9.60; common and medium, $65 9 5 : 90-98 lbs., good and choice, $8,504/ 9.50; yearling wetners, 90-110 lbs., good and cnoice, $6.755 8.50; ewes, 90-150 ibs.. good and choice, $3.755 5.50; all weights, common and medium. [email protected]. CLEVELAND. March 19.—Cattle—Receipts, 100; market slow and steady; steers, 750-1,100 lbs., $6.5057; 650-950 lbs., $5,504/6.50; 900-1,2C0 lbs.. $5.505 6.50; heifers, 600-850 lbs., $4.5055-50; medium, $24(2.50; good cows, all weights, $2,755 3.25. Calves-—Receipts 550; market, strong and 50 cents higher in spots; prime vealers, $7.5058; cnoice veals, $6.5057.50; medium, $0.50©6.50; common, $34/5. Sheep and lambs—Receipts, 2,000; market strong on good active demand; good to choice wool lambs, $9510; medium to good. SBS 9; culls and cuts, $54/7; choice clipped lambs, $7.50 58; medium to good, $64/7; prime wether sheep, $556; choice ewes, $4.5055 50; medium to good, $354.50. Hogs—Receipts. 1 500; market steady to 10 cents higryr in moderate trade; 250-300 lbs., $4.2554.50: 220-250 ibs.. $4.5054.85; 180-220 lbs.. $4.85; 150-180 lbs.. $4 85; pigs. 1004/140 lbs., $353.25; stags, $1.7552; rougns, $2.755 3. PITTSBURGH, March 19.—Hogs Receipts, 3,800; holdovers, none; active: 170 lbs. up. steady to 10c lower; top. $5.10 on one load closely sorted hogs; generally $5 55.05 on 170-230 lbs.; 240 Ids. up quotable, 64.75 55; $4.90 bid early on 250-lb. weights: 160 lbs. down, 255 35c higher; 120-140 lbs., $3.25 5 3.60; 120 lbs. down. 52.754/ 3.25; sows scarce, $3.75 down. Cat-tle-Receipts. 350; good demand; steers and yearlings generally 25c and more higher; top load steers averaging 1.273 lbs., $6.40; good steers quotable, $5.50 5 5.40; medium, $4.75 5 5.50; common. $4 5 4.75; cows and bulls, about steady; good cows, $3.2554; common to medium. 62.75 5 3.50; low cutters and cutter cows, $1.7552.75; heifers, eligible to sell up to $6.50 for best kinds, bulk, medium to good heifers, $4.50 (g 5.30; bulls. $3.75 down. ‘ Calves—Receiots. 50: active, steady; good and choice vealers mostly $7; medium, ss© 6. Sheep —Receipts. 1,000; wool lambs, strong; quality absent; indications up to $9.85, or 10c higher on best here; best kinds eligible to sell up to $10; one load wool lambs, unsorted, $9.65; common to medium, $64/ 9; shorn lambs, steady to strong. $7.75 down; choice clipped wether, quotable around, $5. LAFAYETTE. March 19—Hogs—Market, 10c higher; 225-325 lbs., $4 355 4.50; ISO--225 *lbs.. $4.40© 4.45; 160-180 ibs , $4,105 4.30: 140-160 lbs . 53.50"</3.75; 125-140 lbs.. $35 3.25; 115-125 lbs., $2,254/2.75; 100-Il£ lbs., $1.755 2; roughs, 53.75 down. Top calves. $6.50. Top lambs, $8.50. By Times Special LOUISVILLE, March 19.—Cattle—Receipts, 700; desirable light steers and heifers scarce; run includes several loads and lots of steers with weight demand only fair: market slow, steady on all classes except heavy steers; these weak to 25c lower; bulk common to medium grades steers and heifers. $45 5; medium to good fed offerings mostly $5,254/6; early top. $6.25 for one lot 600 lb yearlings; 1,020 ib steers $5,50: bulk beef cows, 52.504/3.50: good handvweight heifer types. $3.75; low cutters ana cutters. Stockers and feeder unchanged; bulk $1.25452.25; sausage bulls. $3.75 down; common to medium grade natives. $2,75 5 3.75. Calves—Receipts. 900; steady; bulk better vealers. $545 6; strictly choice handyweikhts eligible. $6.50; medium and lower grades. $4 50 down. Hogs—Receipts 1,200; 15 to 20 cents higher than Friday and Saturday; 170-240 ids.. $4 8': 245-270 lbs. $4 50; 275 lbs, $4.15: 145-165 lbs., 53.85: 120-140 lbs. $2.50; sows. $2.90. Sheep—Receipts. 350. including 276 ewes and lambs: slaughter classes steady: medium to good lambs, $7.50i©8.50; choice eligible, $9 or better; light thxowouts, $5.50; iat ewe*. $2.50© 3.

746,476 Farmers Receive Huge Benefit Payments

First Installment Amounts to 20 Cents a Bushel on U. S. Contracts.

By United Press WASHINGTON, March 19.—Benefit payments of $61,771,453 have been distributed to 746,476 farmers co-operating in the government wheat reduction program, the AAA announced today. The first payment of 20 cents a bushel on the farm allotment of j contracting farmers in thirty-seven ! states is practically completed. Officials estimated that the final total of the first payment would be $66,000,000. A second payment of 8 cents a bushel will be made when growers have proved their compliance. Benefits eventually will reaclvmore than $102,000,000, it is estimated. Reopening of the adjustment campaign to permit additional participation and other steps by the farm [ administration to bring the United ; States in line with international I agreement commitments may raise i the total. Payments Are Distributed Payments by states as of March 10 were: Kansas, $16,057,633; North Dakota, $7,192,403; Oklahoma, $4,■451,072; Nebraska, $3,752,006; Washington, $3,721,544; South Dakota, ; $3,280,774; Montana, $3,211,193; Idaho, $2,098,833; Arizona, $13,746; Arkansas, $1,728; California, $604,701; Colorado, $1,387,016; Delaware, $63,386; Georgia, $4,267; Illinois, $1,594,146; Indiana, $1,217,903; lowa, $273,373; Kentucky, $164,212; Maryland, $539,777; Michigan, $496,517; Minnesota, $1,200,341; Missouri, $1,008,262; Nevada, $19,991; New Jersey, $7,745; New York, $29,406; New Mexico, $334,755; North Carolina. S3B 082; Ohio, $1,150,947; Oregon, $1,730,807; Pennsylvania, $106,561; Tennessee, $81,618; Texas, $3,422,097; Utah, $439,618; Virginia, $365,128; West Virginia, $4,683 Wisconsin, $49,370, and Wyoming, $214,046. Distribution of the first cotton payments has begun also. Initial checks totaling $1,609 were mailed to thirty-eight farmers in Taliafero county, Georgia. Contracts of these growers call for eventual payment of $4,137. Farmers Sign Contracts Rental payments, which are the first to go out, will total about $100,000,000, AAA officials estimate, in addition $25,000,000 or $30,000,000 in parity payments will be distributed next December. Distribution of the former was expected to be completed by April 30 and of the latter by Sept. 30. Cully A. Cobb, chief of the cotton section, announced that 945,030 growers had pledged to remove 15,152,653 acres from production this year. He said the abandonment would leave 24,276,725 acres in cultivation. It was reported that more than 750,000 farmers had signed contracts to reduce corn acreage and hog production. lowa leads the sign-up campaign, reporting 155,000 signers. First benefits probably will be distributed before April 1.

Births Girls Donald Gertrude Smith, 1038 West New York. Kenneth and Ruth McClelland, city hospital. Glen and Madeline Hendrickson, city hospital. Frank and Arlene Montgomery, city hospital. William and Irene Buford, city hospital. Ira and Rosa Thompson, city hospital. Cloyce and Myrtle Anderson, city hospital. Chester and Virginia Leesman, 2127 Sugar Grove. Beaman and Effie Suddith, 5009 Schofield. Lewis and Ruby Quinn. 1138 East aßtes. Ervin and Lucille Wilkinson. 609 Willin gt on. Lawrence and Reba Dokes, 6571 Ashland. Arthur and Eva Fowlkes 919 South Illinois. Henry and Anna Purkey, 2710 Stuart. Dale and Ellen Spahr. Methodist hospital. Boys William and Nannie Carver, city hospital. Donald and Edna Overfield, city hospital. Paul and Mary Nicholls, city hospital. Henry and Vivian Carlyle, city hospital. George and Rosa Wilcox, city hospital. Thomas and Lua Willis, city hospital. Wesley and Thelma Landon, city hospital. Roy and Bessie Matlock, city hospital. Russell and Elsie Vohies. city hospital. John and Zella Check, city hospital. Luke and Marie Petty, city hospital. Ben and Amy Page, 225 North Richland. Charles and Henrietta Riggins 1212 East Washington. Deaths * Alla Tallentire, 80, Central Indiana hospital, arteriosclerosis. Clarence Cooksey. 43, Long hospital, acute cardiac dilatation. Nora Alice Wegener, 45, 1810 North Rural, hypostatic pneumonia. Grizzel Brower, 86, 2145 North Delaware, arteriosclerosis. Maude M. Cochrane, 58, 221 West Thirtieth, apoplexy. George Henry Garderwine, 85. 2362 Le Grande, chronic myocarditis. Elsie M. Thompson. 68. Central Indiana ! hospital, pulmonary tuberculosis. Maria Susanna Griffin. 85. 661 East Twent-fifth, coronary occlusion. Alonzo Isaac Campton, 54. 2421 Massachusetts. cardio vascular renal disease. Alexander Stevens. 76. 1516 West Twenty-fifth, acute bronchitis. James T. Brading. 70. 118 West Fortieith. cerebral hemorrhage. Charles C. Leak, 64, 1044 Reisner, cirrhosis of liver. Marv L. Young. 76, 2202 Broadway, arteriosclerosis. Georgia Hulman, 22. city hospital, miliary tuberculosis. William T. Proctor. 67. Methodist hospital. pulmonary edema. Roy Childers, 39. city hospital, acute myocarditis. Sarah J. Murray. 73. 19 North Oriental, cerebral hemorrhage. Erma Robinson, 57. Central Indiana hospital. arteriosclerosis. Edwin McMillan. 71, Methodist hospital, hypostatic pneumonia. Laura B. Killie, 65, 69 Layman, coronary thrombosis. Laura Belle Usselman. 71. 2932 Central, acute cardiac dilatation. Harriet Francis, 62. 557 Fletcher, coronary occlusion. In the Air . Weather conditions at 9 a. m.: East northeast wind, 7 miles an hour; temperature, 18; barometric pressure, 30.11 at sea level; general conditions, high, thin, scattered clouds; ceiling, unlimited; visibility, 1% miles, smoky. Motorist Loses Life By United Press STILESVILLE. Ind.. March 19. Morton McLoughlin, 65, Flora, 111., was killed instantly yesterday when his car skidded on ice-covered road No. 40 and overturned into a ditch. NEW YORK RAW SUGAR FUTURES —March 17— High. Low, Close. January 1/3 1.72 1.73 March 1 45 1.42 1.45 May 1 55 1.53 1.55 July 1 62 1.59 1.62 September 1 67 1.65 1.67 December 1.72 1.70 1.72 Chicken Supper Scheduled Capitol City council No. 53 will hold a chicken supper and card party at Eleventh street and College avenue, starting at 5:30 tomorrow.

Bright Spots

ißy Abbott, yoppin Sc Cos.) Tide Water Associated Oil Company declares a dividend of $2 50 a share on the preferred stock on aceaunt of accumulated dividends; Preliminary report of the company for 1933 shows profits of approximately 61 cents a share on the common stock against 13 cents in 1932. The company also declares a dividend of 50 cents a share on the common. Baltimore &■ Ohio Railroad Company January net loss was 51.088,143 after charges against $31,881 in January. 1933. Caterpillar Tractor Company February net profit totaled $277.810 after all charges against a net loss of $167,430 in February. 1933. Delaware and Hudson Railroad Company January net loss was $159,129 after charges against $588,811 in the same month last year. American Heme Products Company in 1933 earned $3.97 a common share against $3.9.3 in 1932. Domestic and Foreign crude oil stocks declined 625,000 barrels m the week ended March 10. General Foods Corporation and subsidiaries in year ended Dec. 31 had net earnings totaling $11,032,948 after all charges and expenses, and provisions for income taxes, equal to $2.10 a share on $5,251 468 shares of common stock against $10,343,882 or $1.97 a share on $5,251,501 shares in 1932. International Business Machines Corporation and subsidiaries in 1933 had a net income of $5,736,434 after all charges and federal taxes, equivalent to $8.15 a share on 703,345 shares on nopar capital shares against $6,407,757 or sß.ll a share in 1932. Greyhound Bus Corporation and ' its fourteen associated bus companies comprising the national system of Greyhound Lines operated 106.386,939 bus miles and took in total revenues of $27,172,856 in 1933, against 106.988,868 bus miles and $26,980,825 in revenues in 1932.

INSURANCE WEEK IS OBSERVED HERE Financial Independence Is Goal of Drive. Financial Independence week, sponsored by the life insurance representatives of the state, will be observed this week with a series of addresses, meetings, radio talks and educational features. More than one thousand representatives throughout the state will take part in the celebration. Governor Paul V. McNutt has indorsed the activities by proclaiming the week in Indiana. Harry E. McClain, insurance commissioner of Indiana, was to greet members today in an address of welcome on behalf of the state insurance department. At a luncheon of the Service Club at the Indianapolis Athletic club, C. C. Robinson, editor of the Insurance Salesman, was to speak. A number of business establishments are joining in the window display contest featuring ‘‘Financial Independence Through Life Insurance.” Awards for the best display will be made Saturday at a luncheon at the Lincoln. ST. LOUIS DIVINE TO SPEAK AT_SERVICES The Rev. Sidney E. Sweet Will Address Church Here. The Rev. Sidney E. Sweet, dean of Christ church cathedral, St. Louis, Mo., will be the speaker at the noon Lenten services held Tuesday. Wednesday, Thursday and Friday at Christ church, Indianapolis. Dean Sweet is widely known for his liberal application of the Gospel. His social work in St. Louis has attracted nation-wide attention. CHEMISTS WILL MEET Five City Men to Attend Society Gathering in Florida. Five Indianapolis men will represent the Indiana section of the American Chemical Society at the eighty-seventh annual meeting to be held in St. Petersburg, Fla., March 25 to 30. They are H. W Rhodehamel, Dr. Horace A. Shonle, John H. Waldo and E. J. Hughes of Eli Lilly & Cos., and Dr. H. E. Barnard, director of the Corn Industries Research Foundation. Marriage Licenses John Lewis, 21, of 805 South Pershing street, butcher, and Fanny Holmes, 18. of 846 South Belleview place, housekeeper. Ja4mes Handy. 40, of 31 West Fall creek boulevard, salesman, and Conchfta Gheen, 35, of 31 West Fall Creek boulevard, housekeeper. Paul Ferrell 40. of 940 Broadway, toolmaker, and Margaret Noyes, 29. of 614 i North East street, clerk. Lebert Garrett. 22. of 1715 Perkins ave-, nue, laborer, and Ludell Eberhardt, 19, of 732 East Georgia street, housekeeper. Ernest McPhetridge. 48, Connersville, Ind , mechanic, and Anna Braun 36, of 2242 North Illinois, waitress. James Parker, 22 of 432 North East street, knitter, and Alice Kenyoun. 17, of 541 East New’ York street, waitress. Carl Pritchett. 25. Danville, Ind., farmer, and Hilda Kersev, 22 of 109 North Euclid street, clerk. Raymond Gardner. 26. Troy. 0.. toolmaker, and Lula Sutton, 28, Washington hotel, housekeeper. William Thomson, 51. of 2009 Draper street, drop-forger, and Nellie Ranson. 42 of 2014 Draper street, garment worker. Howard Wheeler. 22. of 1801 Jones street, laborer, and Dorothy Taylor, 18. of 828% South Meridian street. Alvin Millspaugh, 26, of 1318 East Washington street, baker, and Velma Freeman, 22. of 3846 Fletcher avenue. houseK“eper Harry Percifield, 40. of R. R. 3, Box 958-X. laborer, and Helen Smith. 37, of 3122 Ruckel street housekeeper. Gilbert Engle, 42, of 318 East Walnut street, truck driver, and Mary Wagner, R. R. 7, Box 22. stenographer. Mansfield Finch. 29. cf 2121 Pleasant street, laborer, and Clara Greene, 26 of 545 Senate avenue, clerk Frederick Oliver, 28. of 2401 Park avenue, accountant, and Janet Giffin. 23, of 327 East Fifty-first street, housekeeper. E. Melvin Moore, 32. of 320 Vermont street, toolmaker, and Luella Winterfield. 24. of 322 Vermont street, housekeeper. Eugene Daache. 23, of 5215 West Fifteenth street,-factory worker, and Ruth j Heacock. 18. of 2089 South Emerson ave- i nue, housekeeper. Ronald Hillman, 22. of 1812 South Pershing avenue, laborer and Elizabeth Van j Buskirk, 19, of 533 Chase street, house- | keeper. Russell Graves, 22 of 345 East Norwood street, laborer, and Sara Suelson, 19, of I 422 Norwood street, housekeeper. Raymond Nellans. 46, of 517 North Ala- | bama street, timekeeper, and Jeanne Pad- | gett, 34, Woodruff Place, housekeeper.

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

.MARCH 19, 1934

SELLING DRIVE CARRIES GRAIN FUTURES DOWN Wheat Values Drop Major Fractions: Corn, Oats Slightly Lower. BY HARMAN W. NICHOLS L’nited Press Staff Correspondent CHICAGO, . March 19.—Stocks and cotton set the example today and grain opened sharply lower on the Board of Trade. ■Wheat deliveries were 4 to I cent lower; corn was off % to ** j cent, and oats was % to % cent lower. There was nothing of a constructive nature in the week-end news to attract the attention of the trade 1 and pressure early brought a brisk ! selling movement into the market. Traders watched Washington for an announcement concerning silver legislation. Liverpool was about unchanged, as expected. Chicago Primary Receipts —March 17— Bushels Todav Last Wk. Wheat 400.000 315.000 Corn 663.000 48' 000 Oats 137.000 7* 000 Chicago Futures Range _ —March 19WHEAT— p rev ~ High. Low 10:00 close. May 8, .86% .86% 87% JulV 87 .86% .86% .87% £orn-"‘ ' BB,/< 8738 ' B7l< 88 '® May 51 .50% .50% .51 July 52% .52*2 .52% .52% Sept 541“ 547® OATS— 8 May 33% .33% .33% .33% July 34** .34% .34** .34% 7 ® May .... .58% .59% July 60% .59% .60% .60% r&RLEY- 62 61 " ’ 6l7 ® 62 '® May 46% .46% July .48 CHICAGO CASH GRAIN By United Press CHICAGO March 17.—Wheat No 2 hard. 88 %c. Corn—(lake billingi. No 2 yellow. 49c; No. 3 yellow. 49c; No. 4 yellow. 48%c: No. 2 white, (old and newt 52%c; (regular rum. No. 2 mixed. 49%c; No. 3 mixed. 49c; No. 2 vellow. 49%©50c; No. 2 white. 52c; (old cotm. No. 6 mixed 47%c; No. 2 vellow. 50%50%c; No 2 white. 52%c. Oats—No. 2 white. 34%c. Rye —No sales. Bariev—Sales. 71© 76c. Timothy—s7.2s© 7.50. Clover Seed—sll® 14.25. Cash provisions—Lard. 6 35; loose. $6.35: leaf. $6.50: S. bellies. $8.12. Toledo cash grain By United Press TOLEDO. March 17. (Grain in elevators. transit billing). Wheat—No. 2 red. 92®93c. Corn —No 2 vellow. 54%®55%c. Oats—No. 2 white. 38* 2© 39* 2 c. Rve—No 2. 6f %® 66%c. (Track prices. 28%c rate/. Wheat—No. 1 red. 888©89c: No, 2 red. 87%®88c. Corn—No 2 vellow. 50%©51c; No. 3 vellow. 49©50c. No. 4 vellow. 48© 49c. Oats—No. 2 white. 35©37c; No. 3 white. 34%©36’ic. Seed Clcse Clover. March. $8.25. Alsike—-Cash. $8 50. Indianapolis Cash Grain —March 17— The bids for car lots or grain at the call of the Indianapolis Board of Trade, f. 0. b. shipping point, basis 41 % New York rate, were—Wheat—Strong: No. 1 red. 82 %© 83%c: No. 2 red. 81%©82%c: No. 2 hard. 81 %©B2>2c. Corn—Strong: No. 3 white. 44 ©4sc; No. 4 white. 43© 44c: No. 3 vellow. 43© 44c: No. 4 yellow. 42@43c: No. 3 mixed, 42® 43c: No. 4 mixed. 41 ©42c Oats Strong: No. 2 white. 31%©32%c; No. 3 white. 30%®31%c. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 80 cents for ;10. 2 sort red wneat. otner grades Jon their merits METHODIST HOSPITAL OPENS NEW LIBRARY, Celebration Marks Inaugural of Patients’ Unit. Open house was field yesterday afternoon at the Methodist hospital in celebration of the new patient library. The library has been moved to new quarters, enlarged, and reopened under the supervision of Mrs. Chauncey D. Meier, president of the Second Presbyterian church White Cross Library guild, a branch of the White Cross center of the hospital. Miss Minnette L. Yeomans, formerly of Danville, #ll., who will be the iibrarian, will be assisted each afternoon by a member of the library guild. Miss Yeomans will visit patients’ rooms in the afternoons. Almost 1,500 books a month are distributed from the library to patients, guests, nurses, and members of the hospital personnel. A silver offering taken at the open house yesterday will be used for a new book fund. LECTURER WILL SPEAK League of Nations Official to Appear at Columbia Club. “Europe Looks at the New America” will be the subject of a talk by Pierre de Lanux, for nine years director of the Paris office of the League of Nations, at the monthly luncheon of the Indiana Council on International Relations at the Columbia Club Tuesday. A well known lecturer in European countries ond often a visitor to the United States, M. de Lanux is noted as a student of world affairs and is familiar with the European situation and American history. Reservations for his address are being accepted at the council’s office, 416 Insurance building. Irvington Chapter to Meet livington Chapter, Order of Eastern Star, will hold a stated meeting at 8 tonight in Irvington Masonic temple. Obligation services will be held.

Edward Boren Insurance Wine & Beer Bonds 408 Continental Bldg. LI-1508