Indianapolis Times, Volume 45, Number 287, Indianapolis, Marion County, 11 April 1934 — Page 13

APRIL 11,193<_

Wall Street Sugar Industry Unsettled: Cuba Unable to Bid for U. S. Trade. RY RALPH HENDERSHOT

Time* Snrrial Financial Writer r T''HE sugar business, described by -*• President Roosevelt in a message to congress early last February as ‘highly disorganized and operating in a manner prejudicial to virtually every one interested," seems to be rapidly getting no better. The reorganization plan of the adminis-

tration is still waiting upon legislative authority, and the CorriganJones bill, granting that authority, passed the house but still lacks senate sanction. Cuba, which was to become an important beneficiary o f the reorganization plan, has been maneuvered during the last two months

Hcndershot

into a position vastly worse than it occupied before the new deal went to its rescue. Thus situation has been brought about by the swift manner in which the American insular possessions— Philippines. Puerto Rico and Hawaii —lapsed to the temporary advantage afforded by congressional delay. Un- , hampered by tariff duties, these competitors of Cuba have been rushing raw sugar into United States at a rate never before equalled and the heavy inflow has depressed spot sugar prices until Cuba's product would have to sell around half a cent a pound, gold basis, to get a share of the business.

Prires at New Low’s T'vUTY frees from insular possessions sold in New’ York City at 2.83 cents a pound last week, the ■ lowest level since March 5,1933. Mav : Cuba futures were around 1.40 cents j a pound, w’hich means a spot price j of about 3.38 cents a pound, more ; than half a cent above the duty frees. Naturally. American refiners have not been taking any Cuban raw sugar. Some shipments have come into the country but they have gone | at once to bonded warehouses. The New York CofTee and Sugar F.xchange reports that 125,000 long tons of Cuban raws have been accumulated in warehouses against the time when and if the Cuban tariff is lowered. Puerto Rico has shipped so far this season—which started Nov. 1, 1933—about 35 per cent of its sugar available for export and the Philippines have shipped over 50 per cent. The two insular producers together had put 864,329 long tons of raw into United States up to March 15, against less than 600,000 tons to that date last year. a a a Further Delay Indicated ADVICES from Washington now indicate that legislative delays coupled with legal machinery will hold off a Cuban tariff reduction until next July. By that time Cuba may be "sold out" for the season with enough duty free sugar and American cane and American beet sugar to see refiners through the bulk of the heavy-consumption summer period. Americans will consume about 6,400.000 short tons of sugar this season. All availables of raw total 7.500.000 tons, or 1.100.000 tons too much. The question is who is going to take a cut in quota? The administration's held-up reorganization plan would have distributed the cut and thus given Cuba a break. So far the plan has worked only in reverse. Retail Coal Prices Th# following prices renresent Quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES Anthracite *4.25 Coke, put sire 8 75 Coke, eg* size 8 5 Indiana, forked lump 5 50 Indiana, egg 5 00 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 8.25 Pocahontas egg 825 Pocahontas forked lump 9.25 Pocahontas mine run 7 25 New River smokeless 8 25 West Virginia lump 6.75 West Virginia egg 6 50 Island Creek 7 00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bia. In the Cotton Markets —Anril 10— CHICAGO Hah. Low. Close. January 12 54 134s 12.54 March 12 64 12.55 12 64 Mav 12.18 1? 08 12 14 Julv 12 28 12 20 12.24 October 12 42 12.32 12.39 December 12.54 12.46 12 49 NEW YORK January 12 47 12 40 12.47 March 12 58 12 47 12 55 Mav 12 09 11 99 12 04 July ... 12 18 12 11 12 16 October 12 32 12 24 12 29 December .. 12 42 12 32 12.40 NEW ORLEANS January 12 43 12.37 12 43 March 12.53 Mav 12 06 12 01 12 05 July 12 15 12.10 12.13 October 12 29 12 23 12 28 December . . 12 39 12 38 12 38 NEW YORK COFFEE FUTURES —April 10— SANTOS High. Low Close March 1123 11 15 11.18 Mav 1055 Julv 10 70 10 67 10 67 September 11.00 10.97 10 98 December 11.08 RIO January 8 57 March 8 60 Mav 8 50 July 8 36 September 8 44 December 8.52 CHICAGO FRI'IT MARKET CHICAGO. April 11—Apples—Michigan Baldwins. *1.40(,i1.50 bushel. Carrots— Illinois 40® 50c bushel. Spinach—Texas. *14:125 bushel. Beans—Southern green. S3® 2.50; wax. *2® 3 Cucumbers—Central western hothouse. *2412.50. 2 dozen to box. Tomatoes —Florida. sl 4l 2.75 box. Sweet potatoes—Tennessee $1.50': 1.65: Indiana. 824:2.15. Mushrooms- Illinois. 13%®27'.-c. pound cartons. Asparagus—California. $1 254:3. dozen bunches. Leaf lettuce— Illinois hothouse, 40c. 10 pound baskets. Onion market (50-lb. sacksi—Western Valencias. 75c®*1.10. western whites. *1 50: Michigan yellows. 9flc Oregon fellows. 754:90c; central western yellows. 104:80c. NEW YORK RAW SUGAR FUTURES —April 10High. Low Close. January 1.54 1.22 1.54 March 1 59 1 57 1 59 Mav 1 36 1 33 1.36 July 1 43 1 40 1.42 September 1 47 1 45 1 47 December 1.53 1 51 1 53 Special Meeting Called Bn Tim>* Special NEW YORK, April 11—Special meeting of directors of the Missouri-Kansas-Texas railroad will be held today. Previous meetings of the board have been held near the end of each month. Reasons were not given for advancing the session this month.

STOCK SHARES RISE FRACTIONS, TRADING ACTIVE Bonds, Commodities Make Small Advances: U. S. Dollar Uneven. Average Stock Prices Average of thirty Industrials for Tuesday High 105 51. lew 103 95. clo<e 105 05 up 1.51 Average of twenty rails. 49.93. 43 08 49 81. up 81 Average of twenty utilities 26.01. 25 60 . 25 8 5 up 13 Average of fort” bonds: 9434, up 13 Average of fen first, rails: 99.89 up .14 Average of ten second rails 83 72 up 20 Average of ten utilities 97 21. off 01 Average of ten industrials: 95.54. up .19. BY ELMER C. WALZER United Preas Financial Editor NEW YORK, April 11. Stocks ! opened firm and fairly active today; bonds gained; commodities I made small advances, and the dollar was mixed in a narrow range. A long list of stocks made frac- ! tional gains. Blocks of 1.000 to! 5,700 shares appeared at the open- i ing and trading continued active in I the early trading. The first sale of Armour B was a block of 5,700 shares at 3%, up %, j and equal to the high of the year. | General Electric opened 2,500 shares ! at 22%, up -J*; Chrysler 2.000 at 55V up %; Anaconda 2.000 at 17V I up Transamerica 2,000 at 7V unchanged; Seaboard Oil, 1.200 at 38 up \; Schenley, 1.000 at 38 V up "•; Nash Motors 1.000 at 24. off 1 1 ; American Power & Light 1.000 at 8V off %; National Distillers 2.500 at 30V up V Continental Oil 2.000 at 21. unchanged; and General Motors 1.000 at 39. unchanged. American Can gained a point to 105 on the first sale, wjgile American Commercial Alcohol was up % at 52V Smaller gains were noted in the steels, rails, chemicals, farm equipments, and some of the utilities. During the early trading prices firmed from the openings. Steel common held around its initial price of 53 V up V American Telephone also was steady at its opening of 120. up V Du Pont opened at 98V up V and then rose to 99. Consolidated Gas eased from its opening. Bank Clearings INDIANAPOLIS STATEMENT —April 10— Clearings $1,952,000.00 Debits 4.788.000.00 TREASURY STATEMENT ; /J,/ J nilrit Pres* WASHINGTON. April 11.—Government expenses and receipts of the current fiscal year to April 9. compared with the ! coresponding period of the previous fiscal year: This Year. Last Year. Expenses $5,097,578,081.11 $3,878,202,109.17 Receipts $2,385,485.348 96 $1.563.738.423.89 Deficit $2,712,092,732.15 $2,314,463,685.28 Cash Bal $4,666,808,531.89 New York Curb (By Abbott. Hoppin & Cos.) * —April 10— Close Close Allied Mills 8% Glen Alften Coal 17 Alum Cos of Am 78 Gulf Oil of Pa 67% Am Beverage 2% Hiram Walker 43' 2 Am Syanide B 21 |Hud Bav Min . 14% Am A For P W 6% Humble Oil 45>, Am Gas & El 25'a Imperial Oil Lt 14% Am Superpower. 3%lnt Petrol 25 Ass Gas A El 1% Lake Shore Min 54% Atlas Corp 12% Libby McN Lib 6 % British Celane 3% Lone Star Gas 6% Can Indus A1 A lkL Natl Bellas H 3% Can Marc .. 3 iNewmont Min . 56 Carrier Corp B'VNia Hud Pwr . 6** Cities Serv . 2% Novadel Agene 65% Com'wealth Ed 56 1 2 Pan Ant Airways 40% Consol Gas of 859 Park Davis ... 24% Cord Corp .. 7 Penn Road ... 3'4 Creole Petrol 11% St Regis Paper 3% Crown Cork Inti 7% Sal Creek Prod 7% Deere A Cos .. 30% Sherwin Wms . 65 Distillers Lim . 24%!Std of Ind .. 27% Distillers Corp 18% Std of Ky . 17 Dow Chem . 81% Teck Hugnes G 7% ! El Bond A Sh . 16% Un Gas 3 Fisk Rubber 18 |Un Pwr Ait A 3% Ford of Can A 23% Wright Harg's M 10

U. S. Government Bonds Bn I niled Press NEW YORK. April 10.—Closing Libortios: (Decimals represent thirty-seconds) LIBERTY 3' is (32-47) 103.27 First 4%s (32-47) 103.24 Fourth 4%s (33-38i 103.15 TREASURY 4%5. 3%s (45) 102.1 4%s (47-52) 110.27 3%s (43-47) 102.26 3%s (42-43) March 102.30 3%s (40-43) June 103.3 4i, s i 411 t 102.25 3%S (64-49) 100.23 3s (51-55) 99 16 Federal Farm Loan Bonds tßy Blyth <fc Cos., Inc.) —April 10— Bid. Ask. 4s Nov. 1. 1957—37 98% 99% 4s Mav 1. 1958—38 98% 99% 4%s July 1, 1956—36 99% 101 4%s Jan. 1. 1957—37 99% 101 4%s Mav 1, 1957—37 99% 101 4%s Nov. 1, 1958—38 99% 101 4%s Mav 1. 1942—32 100 101 4%s Jan. 1. 1945—33 100 101 4%s Jan 1, 1953—33 100 101 4%s Julv 1, 1953—33 100 101 4%s Jari. 1. 1955—35 100 101 4%s Jan. 1. 1936—36 100 101 4%s July 1. 1955—35 100 101 4%s July 1. 1953—33 100% 101% 4%s Jari. 1, 1954—34 100% 101% 4%s Julv 1. 1954—34 100% 101% is May 1. 1941—31 101% 102% 5s Nov. 1. 1941—31 101% 102% Home Loan 4s. July 1. 1951 99% 100% Federal Farm Mortgage Corporation 3%s March 15. 1964 -44 . ... 100% 101% Foreign Exchange (By Abbott. Hoppin & Cos.) —April 10— Close. Sterling. England $5.16%„ Franc. France 0660 Lira. Italv 0854% Belgias. Belgium 2342 Mark Germany 3953 Guildfr. Holland 6767 Peseta. Spain 1368 Krone Norway 2593 Krone. Denmark 2310 Daily Price Index Bn United Press NEW YORK. April 10.—Dun A* Bradstreet’s dailv weighted price index of thirtv basic commodities compiled for the United Press: (1930-1932 Average. 100) Tndav 108.04 Yesterday 107.60 Week ago 107.26 Month ago 109.22 Year ago (April 10i 75 25 1934 High (March 121 110.24 1934 Low iJan. 3t . 10105 Copyright. 1334. bv Dun & Bradstreet. Inc. Investment Trust Shares —April 10— Bid. -Ask. American Bank Stocks Corp ... 1.19 622 Amr A Gen Sec <A> 5.00 7.00 Amer & Inv Tr Sh 1.50 Basic Industry Shares 3 58 3.65 British Type Inv Tr Sh 55 .60 Collateral Trustee Sh iA>! ... -1.95 5.05 Corporate Trust Sh (oldi ... 2.20 2.23 Corporate Trust Sh (new) ... 247 2.50 Cumulative Trust Sh .4 25 . .. Diversified Trust Shares (A).. 625 Diversified Trust Sh <B> 8.12 8.37 Diversified Trust Sh tCi .. 330 3.35 Diversified Trust Shares (D).. 5.00 5.12 First Insurance Stock Corp . 130 6.35 First Common Stock Corp ... .84 .87 Fixed Trust Oil Shares iAi.... 8 75 .... Fixed Trust Oil Shares |8|.... 7.75 ... Incorporators Investments 18 87 19.12 Land Bank Bond Shares 1.19 1.23 Low Priced Trust Shares 6.60 6 75 Mass Inv Trust Sh 19.28 20.96 Nation Wide Securities .. ... 3.57 3.62 North Am Trust Shares <S3 ■.. 1.93 196 No Am Tr Sh < 55-56 1 2.48 2.50 No Am Trust Shares (58i 258 2.64 Selected Amer Shares 275 Selected Amer Shares Inc ... 129 1.34 Selected Cumulative Shares . 6.90 Selected Income Shares ... 3 60 400 Std Amer Trust Shares (A)... 3.09 3 12 Trust Shares of America 2 95 3 05 Trustee Std oil 'A, 5 75 6.00 Trustee Std Oil B 5 39 5.45 U S Electric Lt & Pwr (At .. 13.62 13 00 Universal Trust Shares 3.16 3.20 Wages Rise 10 Per Cent Bp Times Special KENOSTA. Wis.. April 11.—Approximately 200 employes of the MacWhyte Company, makers of rope and cable, wil receive wage increases of 10 per cent, according to George S. Whyte, president.

New York Stocks — tßy Abbott. Hoppin A Co.t “■—“-

—April 11 Prev. ! Oil*— High. Low. 10 30. close Amerada 52% 52% At! Refg 30% Barnsdall ... 9% 9% Consol Oil 12% 12*e Com of Del 31 21 Houston 1 new s’s Houston 1 old 28 Indian Rfg 3% Mid Cent Pet 14 13% I Ohio 0:1 13% 13% Pet Corp 12% Phillips Pet 20% 20% : Plvmouth Oil 14% 13% Pure Oil Roval Dutch ... . . 36% Sbd Oil 38% 33 38% 37% Shell Un 10 9% I Skelley Oil 10% i Soc Vac S O of Cal 38% 38 S O of Kan 37 S O of N J 46’, 46% Sun Oil 60% ! Texas Corp ... 27% 27% Tidewater Assn 12% 12% lUn Oil of Cal. 18% Steel*— Am Roll Mills. 24% 24% Beth Steel 44% 43% Bvers AM 28% Col Fuel A Iron 6% Cruc Steel 32% Inland Steel 44 Ludlum Steel 17 McKeesport Tin . 91 Mid Steel 18 18% Natl Steel 48% Otis Steel .. ... %% 6% Rep Iron A Steel 22% 22% Rep Iron A Stl p 59% U 8 Pipe A Fdv 28% U S Steel 53% 53 U S Steel pfd 94 93% Warren Bros .. ... 11% It 1 ,4 Youngst'n SAT.. ... 29 29 Motors— Auburn ... 52% 52% Chrysler . . ■ 55% 547% Gen Motors . 39% 39 39% 39 Gen Motors pfd .. ... ... 98*4 Graham Mot - 4 Hudson 21 21 Hupp .. 5% 5% Mack Truck ... 33% 33% Nash 24 24% Packard 5% 5% Reo 4% 4 Studebaker 7% 7% Yellow Truck 6 6 Motor Access— Bendix 64 63% Born Alum ... 64 63% Borg Warner 25% 25% Briggs ... 16% 16% Budd Wheel 4 Eaton Mfg 20Vi 20% Elec Auto Lite ... ... .. 28% Houdaille “A”.. .. ... 5% 5% Mullins Mfg ... ... 14 14 Mullins Mfg pfd 33 7 i 33% Murray Body 9Vi 9% Stew Warner . 9% Timken Roll 36 25% Timken Det Axel 7% 7 1 /. Mining— Alaska Jun ... 22 21% Am Metals . 26% 26% Am Smelt 46% 45% 46V* 45% Anaconda 17% 17% 17% 17% Cal A Hecla' ... 6 6 ; Cerro De Pasco • 38% 38% 33% 38% : Dome Mines .. 39% 39% 39% 39 I Granby , 12% 12% ! Gt Nor Ore „ 13% ! Howe Sound ... 55% 55'% Ins Copper ... 6% 6 ; Int Nickel ... ••• 28% 1 Int Silver 41% Kennecott Cop . 22% 22 5 ,a 22% 22% Mclntyre Mine . 49% 49% 49% 49% Noranda Cop ... . • 44% Park Utah 5*4 5% 5% 5% Phelps Dodge .. 18% 18 18*/8 18 St Joe Lead ... 24% 24 U S Smelters 130% 129% Vanadium ... ••• 27% Amusements— Crosley Radio 13 Fox Thea ... . 15% Loew's Inc .. 33% 33% Radio Corp 8 7% 7% 7% RKO 3% Warner Bros 7% 7% Tobaccos— Am Snuff ... 55% 55 Am Sum Tob ... ... 19% Am Tobacco A . . . . 71 Am Tobacco B . 73% 73% 73% 72% Ligg A Myers B 93% 93% Lonllard .. ... 17% 17% Reynolds Tob B. .. ... ... 42% Rails— Atchison 69V 69 69 69 Atl Coast Lines 49 B A O 30% 30% Can Pac ... 17 17 Ch A Ohio 48% 48% Chi A Gt W . 4% Chi A Gt W p£ 11% C M A St P . ... 674 674 CMA St P pfd 1174 11% 11% 11% Chi N W 13% 13'% Del a A Hud 66% 66 Del Lac AW.. 29% 29 29% 28% Erie . 22% 22% Grt North pfd . 30 29% 30 30 111 Central 33% 32% K C Sou 16 .16 Lehigh Valley 20 19% Lou Nash 59% 59% M K A T 1274 12 MK A T pfd 27% 27 74 Mo Pac 5 Mo Pac pfd 774 7% N Y Cent, 37 36% NY Chi A St L 22% NY C A St L pfd 32% N Y New Haven 1974 1 974 N Y Ont A West 9% Norfolk A Wes 177 Nor Pac ... 34% 34% Penn R R 35% 35% Sou Pac 23% 287a Sou R R . S3 '-2 33% SOU R R pfd ... 39% 39% 39% 39 Union Pac ... 132% 133% Wabash 4% West Maryland.. .. ... ... 15%

Enuipmcnts— Allis Chalmers . •• ... 20 ’4 20' * Am Brake Shoe. .. ... . 32'* Am Car & Fdy 28% 28% Am Loco . 34 34 Am Mach & Fdy .. ... ... 16% Am Steel Fdy 21% Bald Loco 14% 14'2 Bald Loco pfd 58% Burroughs 16% Case J I 33'4 72% Cater Tract 32% 32% Deere & Cos ... • 30'* Foster Wheeler ... ... 19% 19% Gen Am Tk Car 41% 40% Gen Elec ... 22% 22-’* Gen R R Sig 43'2 Ingsol Rand ... 66 Int Bus Mach . 139 s a Int Harvester .. . 42% 42'/* Natl Cash Reg . 19*4 19'2 19% 19% Pullman Inc ... 57% 57** Rem Rand . 12% 12% West Air (B> ... 32% 32% 32 3 4 32% Westingh Elec.. 39 38% 39 38'* Utilities— Am & For Pwr.. . ... 19 10 Am Pwr & Lit.. B*4 8’,2 8 3 /4 8-. AT&T 120 1197* Am Wat Wks 2074 20% Brook Un Gas 68 Col Gas & Elec 15% 15Vi Col G& E pfd 74% 74 Com & Sou • • • , 27* 274 Consol Gas 37% 377* 37% 37% Elec Pwr & Lit. .. ... 7'/* 7% E P & L pfd ... . . 1374 Int Hydro Elec . 7% 774 7% 7 Int TANARUS& T ■ 15' * 15 1 574 1574 Lou G & E 1A) .. ... ... 17 7 * Nat Pwr & Lit ... ll% North Amer . - 19 18% Pac G & E 20 1974 20 19'2 Peoples Gas 3B 37 Postal Tel pfd . .. ... 2474 24'2 Pub Serv N J 37% 3774 So Cal Edison .. . 19 19% Std Gas .... 12' 2 1274 12 1 4 12% Std Gas pfd 12% 1274 Stone & Webster .. 974 9*% United Corp ... 6'* 6 6 67* Un Gas Imp 16 7 b 16 3 * Ut Pwr & Lit A 3% Western Union 56% Rubbers— Firestone 21% Goodrich 16 16% Goodyear 3674 36% Kelly Spring 37* 3*4 U S Rubber 20% 20% T 7 s Rubber pfd 47% 47% Miscellaneous— Am Bank Note . .. ... 20% Am Can 105 104 Anchor Cap 21% Brklyn Man Tr ■ • 31 Conti Can . 82 81% 82 81% Crown Cork ... . 30% Curtis Pub . 26% 26% 26% 2a% Curtis Pub pfd 71% 71% Eastman Kodak 92 89% Gillette • 10% 10% Glidden . 27% 27 2/% 19% Inter Rapid Tr . 9 7 9% 9 7 a 9% Owens Bottle .... ... ... 86 Ravbestos Mfg ... ... ••• 21 Foods— Am Sug • • •• • 55 Armour A . 7% 7% 7 * 7% Beatrice Cream 15 13% Borden Prod 23 % 23% Cal Packing ■‘7% 2/ Canada Dry G A • f7 Coca Cola ••• 111'.2 117 Cont Bak A J*. Corn Prod • <6 76 2 Crm of Wheat _ 32 * Cuban Am Sug 7% 7 * Gen Foods 34% 34 4 Gold Dust 21% 21% G W Sugar 30% Hershev 55 2 Int Salt 30 Loose Wiles ■ . • ■ 42% Natl Biscuit ... 42% 42% 42% 42% Natl D Prod ... 16% 16 16% 16% Purity Bak Jf ■* S Porto Rico Sug 35_* 35 4 Std Brands . ... 22** 22% 2*% 22 4 Un Biscuit •■ • 26 2 * United Fruit • ■ • Wrigley 62 Retail Stores— Asso Dry Goods 16% 16% Best & Cos 34% 34% First Natl Stores - 65 Gimbel Bros 5% 5% Gimbel pfd 26 Gr Un Tea . ‘ % 7 Hahn Dept Sts 7 3 * 7% Kresge S S 20 * 20% Kroger Groc 32% 32 Macv R H 50% 50 Marshall Fields. . 19% 19% May Dept St ... 42% 42 42% 42 Mont Ward .... 33 32% 32% 32 * Natl Tea 17% 17% 17% 17% Penny J C • • 67% Safewav St .. 54% 54% 54*, 54 Sears Roebuck . 50% 50% 50% 50% Woolworth ••• 52% 52% Aviation— Aviation Corp .. 9% 9 9 9 Curtiss Wricnt ... ... 4% 4% Curtis Wr A 11% 11% Douglas Air 25% Nor Am At .... 6% 6% Speery Corp 10% 10% 10% 10 s * | United Aircraft 24% 23% 24 23% Wright Aero 59 Chemicals— Atr Reduction . 99% Allied Chem 153% 153% 153% Am Com Alcohol 52'* 52 52 51 Col Carbon 70% 69% Com Solvents .. 29% 29% 29% 29% Dupont 99 98% 99 97% Freeport Tex 46% Liquid Carb ... . 31 30 Math Alkalhi 37% 36% 37% 36% Montosonta Chm 95%. Natl Dis 1 now). 30*. 30% 30% 30% Schenelev IMst . 38% 38% 38% 38% Tex Gulf Sulph. 38% 38% 38% 38 Union Carbide .46 45% 45% 45% U S Hid Alco $3%

THE INDIANAPOLIS TIMES

Virg Chem 6% pfd 21% Drugs— Coty Inc 7% 7% Lambert .... 27% 27% Lehn A Fink ... 20% 20 20 20 Un Drug .16% 16 16 16 Zonite Prod ... ... 7% Financial— Adams Exp . 10% 10% Allegheny Corp 3% 3% 3% 3% Am Int Corp.. .. ... 9 8% Chesa Corp .. 47% 47% Lehman Corp .. 73% 73% 73% .. Transamerica .... ... 7% 7% Tr Conti Corp ... 5% 5% Building— Ltm Radiator .. 16 15% 15% 16% Gen Asphalt ... 20 20 Int Cement 29 Johns Manville 58% 58% Libbv Owens Gis 38% 38% 38% 38% Otis Elev 16% 16% Ulen Const 3% Household— Col Pet Pet 18 17% Congeleum 28% 28 Kelviantor . 19% 19% 19% 19% ; Mohawk Carpet .. ... 17% ls% ' Proc A Gamble .. ... . 36 ' Simmons Bed 22 22 Textiles— Amer Woolen ... 14% 14 s * 14% 14% Belding Hem 14% 14% 14% 14% Celanese Corp . 37% 37% 37% 36 s 8 Collins Aikman. . . . . 21% 24 Indus Rayon ... ... 83 83% Gotham Hose ... 11% 11% Kavser Julius .... ... 17% 17% Real Silk 11 4

Chicago Stocks Bv Abbott, Hoppin A Cos.

—April 11High. Low. 10:30. Adams Mfg .. 12% Berghofl 9 8% 9 Bastian Blessing 7 Bendix Aviation 19% Borg Warner ... 25% E L Bruce Cos .. 15 Butler Bros 10% 10% 10% Cent A So West 17, 17a 1% Chicago Corp com . 2% Chicago Corp pfd 27% 27 27% Cities Service ... 2% 274 2% Commonwealth Edison. . . 5674 Cord Corp 77a 6% 7 Crane Cos 9% 9% 9% Electric Household .... . 11% Gen Household Ut . . 15% 15% 15% Great Lakes Dredge . . . 19 7 4 Libby-McNeil ... 6% 6% 6% Lynch Corp 32% 32 327a Marshall Field ... 19% 19% 19% Middle West Utilities .... . . % National Standard . ..' . 23% Noblitt-Sparks Ind Inc 15% 15% 15% Prima Cos 9% 9% 9% Quaker Oats pfd 111% Sears Roebuck . 507a Swift A Cos. 18% 18 18 Swift International ... 29 Thompson. JR ... 8% Utah Radio ... 1% Walgreen Cos., com 28% Zenith Radio ... 3%

Bond Prices

By Fenner A Beane. —April 11— High. Low. 10:30 Alleg Corp 5s ’SO 45% 44% 45% AmAFor 5s 2030 ... 52 ATAT db ’65 1017a Atchison gen 4s ’95 102 BAO cv 4%s ’6O .... 7174 7174 71% Beth Steel 5s A ’36 102% Brazil 6%s <26) ’57 ... 27% Csn Pac 4s . 1 ., CIIMStPAP ad 5s A 2000 19% ’19% 19% ChMStPAP rs 5s A ’75 56% 56 56 Cons Gas NY 4%s ’sl 103 102% 102% Det Ed 5s E ’52 105 Erie RR rs 5s ’67 75% 75% 75% French 7s ’49 17674 176 176 Goodyear 5s ’57 .... 99 9874 98% Gt Nor 4%s D ’7O ... 84% 83% 84% Gt Nor 4%s D ’76 . . . 84% 83% 84%. Gt Nor 7s A ’36 98% 98% 98% Int TAT db 5s ’55 68% 68% 68% Lorillard 7s ’44 .... ... 118 McKeesAßabb Nat Dairy db 5%s ’4B . 93% 93% 93% NY Cent 4%s O 2013.. 81 80V* 81 Nor Am 5s ’6l 89% Para Pub 5%s ’SO 51% Poland 7s ’47 98% Sin Cons 6%s B ’3B ... 104% Texas Corp 5s ’44 ... 102% Tob Pr NJ 6%s 2022 106% Un Pac Ist 4s ’47 .104% 104 104% US Rubber 5s A ’47 . 87% 86% 87% Vanatium 5s ’4l . ... 82% 82% 82% Western Un $s ’sl . . 9374 93% 93% Ygstwn SAT 5s B ’7O 87 7, 87 74 8774

AIR FIRM PRESIDENT SUGGESTS NEW BILL ‘Constructive’ Legislation Is Urged by E. R. Breech. /> .1/ Times Special CHICAGO. April 11. “The air transport industry never will be on a sound basis so long as it is subjected to the ‘political policies’ of the postoffice department.” asserts Ernest R. Breech, president of North American Aviation, Inc., in a letter to stockholders, made public today by Colonel E. V. Rickenbacker. vice-president. Mr. Breech contends that passage of the pending McKellar-Black bill will virtually destroy the value of investments in previous air mail operating companies, and urged "constructive legislation to insure continuance of the rapid advance made by aviation in the last few years.” He suggested a three-point program which included creation of a separate federal regulatory board, appointed by the President; issuance of certificates of necessity and convenience by this board, and authorization of the placing of air mail on all lines operating under these certificates. U. S. CONTRACTS SIGNED 121,019 Illinois Farmers Join CornHog Adjustment Campaign. Bfi Times Special URBAN A, 111.. April 11.—Total of 121,019 Illinois farmers have joined the governments corn-hog adjustment campaign, according to an announcement made yesterday by Professor J. C. Spitler, who is in charge of the state headquarters. With eighty-eight of the 102 counties in the state having made their final report, McLean county continues to lead with a total of 3,561 contracts signed. Births Girl* Raymond and Myrteldia Hessler, 1502 West Twenty-sixth. Samuel and Francis Tezzis, 522 Massachusetts. Oscar and Kathryn Barnhill, Coleman hospital. Carl and Una Ellis. Coleman hospital. George and Mary Fisher, Coleman hospital. Kenneth and Mary Cross. Coleman hospital. Thomas and Hazel Leary, Coleman hospital. Caurice and Dorthy- Meek, Coleman hospital. Earl and Olga Moon, Coleman hospital. Leßoy and Dorothy Rairdon, Coleman hospital. James and Mabel Roberts, Coleman hospital. Tnomas and Ruth Ross, Coleman hospital. Louise and Letha Springre, Coleman hospital. Boys. John and Grace Rose. 3286 Hovey. William and Velma Alexander, Coleman hospital. Henry and Blanche Asher. Coleman hospital. Culver and Louise Godfrey, Coleman hospital. Charles and Nadine Long, Coleman hospital. William and Mary Shaw, Coleman hospital. Arthur and Elizabeth Winters. Coleman hospital. * Deaths Frederick Edward Nester. 67. 509 North East, chronic myocarditis Weslev Cox. 56. 2132 Alfree. carcinoma. Rosalie Luther. 4. Riley hospital, acute mastoiditis. Carrie B. West, 60. 1615 North Tacoma, carcinoma. Samuel Boits, 55. Veterans hospital, mitral insufficiency Ruth W’ilson. 42, city hospital, pulmonary tuberculosis Charles Emorv. 72, 617 Nortl; Spring cerebral hemorrhage. Jeanne Carolvn Holtman. 2. 6247 Park, lobar pneumonia. Lewis Farmer. 68, Methodist hospital, fractured hip. Josephine Kiefer Maver. 70. St. Vincent's hospital, duodenal ulcer. Anna E. Hatfield 63. St. Vincent hospital. hvdronephrosis Christian Wenzler, 47. 4917 West Tenth nephritis. Anna Gibson. 34. city hospital, broncht 1 pneumonia. Fannie Keckler. 79. city hospital, hypo static pneumonia. Georgia Phillips, 71. 8576 Park, arteriosclerosis. Fhoebe J. Ditto. 76. 816 Olive, cardio vascular renal disease.

HOG PRICES UP 10 TOl5 GENTS AT STOCKYARDS Cattle Values Strengthen: Veals, Lambs Move Higher. Initial strength de7’eloped in all ! sections of trading at the Union Stockyards this morning. Porker I values moved around 10 to 15 cents higher than yesterday's average. Bulk of 160 to 325 pounds was selling at $4 to 54.40. Few good and choice grades held salable up to $4.15. Small weights from 130 to 160 pounds sold at $3.15 to $3.65. Light slaughter pigs, 100 to 130 pounds, brought $2.15 to $2.90. Receipts were estimated at 5,000. Voldovers 700. An advance ranging from 15 to 25 cents was registered in beef steers. Two early loads held at $7.50 to $7.65. Others ranged from $4.50 to $6.25. All classes of she stock were strong. Receipts were 800. Vealers were strong to slightly higher than the previous close with good and choice kinds salable at $6 to $6.50. Receipts numbered 700. Initial trading in the lamb market was around 25 cents higher. Most grades were active and strong. Bulk of shorn lambs sold at $7.50. Receipts were 200. Asking was fully 10 cents higher on hogs at Chicago with no early bids evident. Receipts were estimated at 15,000. including 5.000 directs; holdovers. 4,000. Cattie receipts were 9,000: calves. 2.000; market unchanged. Sheep receipts numbered 7,000; market steady to strong.

HOGS April Bulk. Top. Receipts. 5. $4.10® 4.25 $4.25 4.003 6. 4 10®! 4.25 4 30 6.000 7. 4.05® 4.20 4.25 2.000 9. 3.85® 4 00 4.05 9.C00 10. 3.75® 4 00 4.00 7.000 11. 4.00® 4.10 4.15 5,000 Market. Higher (140-160) Good and choice $ 3.40® 3.65 —Light Weights—-(l6o-1801 Good and choice .. 4.00 (180-200) Good and choice .. 4.05 —Medium Weights—-<2oo-220i Good and choice .. 4.10® 4.15 (220-250) Good and choice •• 4.10® 4.15 —Heavy Weights—-(2so-2901 Good and choice ... 4.05® 4.15 (290-350) Good and choice .. 3.90® 4.05 —Packing Sows—(3so down) Good 3.15®> 3.40 (250 up' Good 3.00® 3.25 (All weights) Medium ■ 2.75® 3.10 —Slaughter Pigs—-(loo-130) Good and choice... 2.15® 2.90 CATTLE Receipts. 800; market, higher. (1,050-1,100, Good and choice $ 6.50® 7.50 Common and medium 4 50®. 6.50 (1.100-1.500) Good and choice 6.25® 7.65 Common and medium 4.75® 6.25 (675-7501 Good and choice 5.25® 6.25 Common and medium 3.00@ 5.25 (750-900) Good and choice 4.75® 6.00 Common and medium 2.75® 4.75 —Cows— Good 3.50® 4.00 Common and medium 2.75® 3.50 Low cutter and medium 1.50® 2.75 —Bulls (yearlings excludedi Good ibeef steers) 3.00® 3.75 Cutter, common and medium.. 1.75® 3.00 VEALERS Receipts. 700; market, higher. Good and choice $ 6.00® 6.50 Medium 4.00®' 6.00 Cul and common 2.50® 4.00 —Calves— Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle—-(soo-900i Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 (800-1.5001 •Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts. 200; market, higher, shorn easier (90 lbs. down) Good A choice $ 7.00® 7 50 (90-110 lbs.i Good and choice 6.75® 7.25 (500 lbs. down) Com. and med. 6.00® 7.00 —Ewes— Good and choice 4 00® 5.00 Common and medium 2.00® 4.00 Other Livestock By United Press CHICAGO. April 11.—Hogs—Receipts, 15,000, including 5.000 directs; active, sfr: 10c higher than yesterday: 170-280 lbs, 540:4.15; top. $4.15; 290-350 lbs.. 53.75',/ 4; light lights. $3.60®4; good pigs, 52.75 0:3.25; packing sows. $3,100:3.35; light lights, 140-160 lbs., good and choice, $3.60 (54.05: light weight. 160-200 lbs., good and choice, $3.90®4.15; medium weights, 200-250 lbs., good and choice, $40:4.15: heavy weights. 250-350 lbs., good and choice, 53.750:4.10; packing sows. 275-550 lbs., medium and choice, $3®3.50: slaughter pigs. 100-130 lbs., good and choice, 82.500:3.60. Cattle—Receipts. 900; calves, receipts. 2,000; active on all weighty steers and better grade light steers and yearlings; 10 loads or more at $7.65 on kinds scaling 1.050-1.400 lbs.; common and medium light killing steers, slow; mostly 55.50®7.25 market; all she stock; steady to strong; slaughter cattle and vealers: steers 550-900 lbs., good and choice. $6.25 ®7.75: 900-1.100 lbs., good and choice. $6.25(57.75; 1.100-1,300 lbs.. good and choice. $6.25®7.75: 1,300-1.500 lbs., good and choice, $6®7.65; 550-1.300 lbs., common and medium. $4(5 6.25; heifers, 550750 lbs., good and choice. 55®6.25; common and medium. $3,500:5; cows, good, $3.50(5 4.50; common and medium, $2,750: 3.75; low cutter and cutter, $1.75®2.75; bulls, yearlings excluded, good beefs, $3.15®3.75; cutter, common and medium. $2.75®3.40: vealers. good and choice. $5 <5 6.25; medium. s4®s; culls and common, s3®4; stocker and feeder cattle, steers, 550-1,050 lbs., good and choice. $4.50(5 5.75: common and medium. $3.25®4.50. Sheep—Receipts, 7,000; fat lambs, undertone steady to strong; some interests asking higher; better grade wool lambs off: some held up to $9.50 and higher; spring lambs and sheep scarce, about steady; slaughter sheep and lambs: lambs 90 lbs., down, good and choice. $8.90® 9.60; common and medium. s7®9; 90-98 lbs., good and choice, $8.75®9.50; ewes. 90-150 lbs., good and choice. $3.75® 5.25; all weights, common and medium, s3® 4.25. CLEVELAND. April 11.—Cattle Receipts. 175; market 10 to 15 cents higher in active tradign: choice steers, 750-1.100 lbs., $6.50® 7.50; 600-900 lbs., $5.50® 6.50; 900-1.200 lbs.. $5.25® .25; o lbs.. $4.50®5.50; good cows, all weights. $2.75® 3.50. Calves—Receipts. 600: market active and stronger: finest vealers sell freely at $7; prime veales. $6.50(1:7: choice, 56®6.50; medium. ss®6: common. $3®4.50. I Sheep and lambs—Receipts. 1,000: market < has stronger undertone: trading active; good to choice wool lambs, s9® 9.50; mediums to good. s7®9:: culls and cuts. ss®7: choice clipped lambs, $7®7.50; medium to good, ss®7: choice clipped lambs. s7® 7.50; medium to good ss®7; prime wether sheep, ss® 6; choice ewes. s4® 5; medium to good. s3® 4. Hogs—Receipts. 900; market active and 20 cents higher in active trading; 250-300 lbs.. $4®4.25: 220-250 lbs. $4.25®3.35; 180-220 lbs.. $4.35: 150-180 lbs., 54.35: pig§, 100-140 lbs., $2.75®3; roughs, 52.75®3; stags. $1.75. EAST ST. LOUIS. 111., April 11.—Hogs —Receipts, 7.000. " including 350 direct: market, mostly 5® 10c higher: light pigs slow; bulk 170-250 lbs.. $4.05®4.10; top $4.10: few less desirable. $4; 150-160 lbs . $3.75®4: 130-140 lbs., $2.90®3.40; 100-120 lbs . S2® 2.65: sows. 53.25® 340 mostly. Cattle—Receipts, 2.000; calves, receipts, 1.500: market, steers opened steady to 10® 15c higher; mixed yearlings and heifers active and fullv steady; cows, bulls and vealers, unchanged; top yearling steers, $6 75 with other sales. $4,504:6: mixed yearlings and heifers, largely $4.50 ® 5.50: little done on beef cows, low cutters. $1.25® 1.75: top sausage bulls. $3 25: practical top on vealers, $5.75 with a few select at $6: nominal range slaughter steers, $3.75® 7.25; slaughter heifers. 53.50 ®6.25: slaughter steers, 550-1.100 lbs. good and choice. $5.75® 7.25: common and medium. *3.75® 5.75: 1.100-1.500 lbs . choice 56.50®.7.25; good. $5 50®6.75: medium, $5 ®5.75. Sheep—Receipts. 1.000: market not yet established: few choice clipped lambs to city butchers strong to 25c higher at $0; asking higher for others; lambs. 90 lbs. down, good and choice. $3 75® 9.25; common ana medium s6® 8 75: 90-98 lbs. good and choice. $8.25®9.15: yearling wethers. 90-110 lbs., good and choice. 56.75®8.25: ewes. 90-159 lbs., good and choice. $3.75® 5.25: all weights, common and medium. *2.75®4.25. PITTSBURGH. April 11.—Hogs—Receipts. 300; holdovers. 750: good demand: mostly 5 to 15 cents higher; sows, slow steady: top. *4.50: bulk. 170-220 lbs $4 40® 4.50: 220-250 lbs . 54.25® 4.40: hea’ ier weights, steady at *4®4.25: 130-140 lbs $3.25® 340: 120 lbs., down. *2.753 3: sons 53.25 down. Cattle—Receip’s, 10 nominal Calves—Receipts. 75: steadv bulk vealers $6: selected kinds. $6.50: medium. $4.50® 5.50. Sheep—Receipts 500; •erv few woo! lambs on sale; nominal steadv better grades, auorable $9.25®9.50; shorn lambs steady. $7 50 down: medium. *6®7: rhoiee shorn wethers, quotable around $4 25®; spring lambs. *ll down. LAFAYETTE. April I!—Hog market 10 o 15 cents higher: 200-250 lbs *3 95 150-300 lbs.. *3 90 300-325 lbs . $3 75; 180100 lbs . S3 85; 170-180 lbs.. $3.75: 160-170 lbs . S3 65: 150-160 lbs . *3 40: 140-150 lbs S3 10: 130-140 lbs *2 80; 100-130 lbs.. *1 75 ®2.50: roughs. *3 down. Top calves. *5.50, top lambs, SB,

Cord Corporation Forms New Operating Company

Reorganization Makes Firm Eligible for U. S. Air Mail Contract. B'j Time* Special CHICAGO, April 11. —American Airways, Inc., today issued the following statement: "Now that Postmaster-General Farley has announced air mail routes from Chicago to New York via Detroit and Buffalo, and from Ft. Worth. Texas, to Los Angeles, Cal., are shortly to be advertised for bidding, it has become certain that all of the air mail routes formerly controlled by American Airways. Inc., soon will be restored to private operators. "Other American Airways’ routes were advertised for bidding last week, and under the terms and conditions announced American Airways, Inc., is deemed ineligible to bid. "These conditions make it necessary for the Cord management, which controls American Airways, Inc., and its parent company, the Aviation corporation, to announce what its future policies will be, not only with respect to the carriage of the air mail, but also as to affiliation with holding companies and airplane parts and accessory manufacturers, which connections have been the subject of considerable criticism. "The Cord corporation did net directly or through any of its affiliates or subsidiaries obtain any air mail contracts at any time either from this or any preceding administration, but with confidence in aviation invested during the period of years since 1929 $10,000,000 of its own money in aircraft and aircraft engines, parts anr accessory manufacturing plants and airplane developments. "This investment was a permanent one which has not been liquidated and now that the policies of the government have been fully disclosed, the Cord corporation will continue this business, adapting itself to the Roosevelt program and meeting to the best of its ability and in good faith all conditions which may be imposed upon those companies which carry the air mail. "Asa first step there will be organized anew operating company amply financed and with personnel and equipment rendering it eligible j to bid for air mail contracts under the postmaster-general's announcement. "The stock; of this new operating company so received by the Cord Corporation will in turn be distributed to its 8.000 or more stockholders and thereby the operating company will be completely divorced from holding companies and manufacturing companies and will he directly owned by the individual investors who now hold the Cord and the Aviation corporation stock. "The officers and directors of the new operating company will be selected from among the operating personnel and will be entirely distinct from the officers and directors of the present holding or manufacturing companies and will be composed of individuals qualified in every way by experience to manage an air transport company and eligible under all of the terms and con- | ditions of the postmaster-general's i proclamation.’’

Produce Markets Delivered in Indianapolis Prices—Hens. 11c, Leghorn hens. 8c Leghorn sprine-er-stags, 6c; targe springer-stags. 9c; cocks 5 lbs. and over 6c; under 5 lbs.. 4c; ducks, full feathered and fat. 4% lbs. and over 7c; geese. sc; young guineas. 1% to 3 lbs.. 30c; old guineas, 20c. No. 1 strictly fresh country run eggs, loss off 13c each full case must w r eigh 5 lbs. gross; a deduction of 10c a opund for each pound under 55 lbs. will be made. Butter—No. 1, 25 @ 26c. No. 2 23(g.24c; butterfat, 2ic.— Quoted by Wadley. By United Press CHICAGO, April 11.—Eggs-Market, unsettled; receipts, 21.212 cases; extra firsts. 16%c; fresh graded firsts, 15%<a16c; current receipts, 15c; dirties, 14c; checks, 13%c. Butter—Market, steady: receipts, 7,537 tubs; extra firsts (90-91% score), 20 3 4 c; firsts 188-89% scorei, 207?.20%c: seconds 186-87% scored, 19%c; extras (92 score), 21c: specials. 21' 4 ®22c; standards, 20%c. Poultry—Market, stady; receipts, 32 trucks, two cars; one car due; heavy hens. 13', 4 c hens. 15%c; ducks. 12@15c; old roosters. 9c; springs (colored and white rocks over 3 lbs.). 23c; colored and White Rock broilers, 1 to 2 lbs., 26c; geese, 3c; Plymouth Rock fryers. 1 to 2 lbs., 26c; Leghorn broilers. 22c; barebacks, 19c; capons. 20c; coolred and White Rock fryers, over 2 lbs.. 25c. Cheese —Twins. 12@12Uc: Longhorns. 12%@12%c; daisies, 12%@12 3 4c. Potatoes—Old stock, supply liberal; demand and trading moderate; market slightly weaker on McClures; about steady on others; Idaho Russets 3 cars. $1.62%, 8 cars $1.65, U. S. No. 2, two cars, $1.40; Washington Russets, combination grade, two cars $1.45, one car. $1.47%. one car, $1.50: Colorado McClures, one car $1.62%. one car, 51.67%. two cars. $1.70, one car $1.72’,i. three cars $1.75. one car $1.77%, one car, fair quality, $1.45: Minnesota Cobblers, one car, $1.55: Early Ohios, one car $1.50, partly graded, one graded, one car $1.30. two cars. $1.40. one car. $1.45; North Dakota Cobblers, one car. $1.57%: Montana Bliss Triumphs, one car, $1.50; Colorado people's Russets, one car, $1.40; Wisconsin Round Whites, one car, $1.55, ane car. $1.60; new stock—supply moderate; demand and trading slow; market about steady; coriot sales Texas Bliss Triumphs to jobbers $1,704? 1.75. Shipments, 700. arirvals. 119. on track 358. NEW YORK. April 11.—Potatoes, easy: Long Island, $1,107/2.20 bbl.; Southern, $3,507? 6 bbl.: Maine $1,207/3.75 bbl.: Idaho. $24/2.20 sack: Bermuda, $54/5.50 bbl.; Canada. $1,804/ 1.90 bbl. Sweet potatoes, steady; Jersey, basket. 50c4?;i.85; Southern. basket. $1.15. Four, dull: springs, patents. $6,257/6.50 bbl. Pork, steady; mess. $20.25 bbl. Dressed poultry—Firm: turkeys. 13(H25%c: chickens. 97/ 29c; broilers. 144/ 29c: capons. 204? 32c; fowls. 144? 18c; Long Island ducks, 154? 17c; live poultry, dull; geese. 745 9c; turkeys. . 184? 25c: roosters. 10c; ducks. 87r14c; fowls. 167i17c; chickens. 154? 12c: capons. 22c, Cheese—Dull; state whole milk fancy to specials, 184? 19c. CLEVELAND. April 11.—Butter—Market weak; extras, 25c: standards. 24%c. Eggs— Market weak; extra white, 15%c; current receipts. 15c. Poultry—Market firm: colored fowl. 4% lbs. and up. 17c: colored fowl, medium. 16c% Leghorn fowl, 13c; broilers, colored, 25c; old roosters, 10c; ducksfi white. 5 ibs. and up. 20c: ducks, light, old. 17c % geese, ordinary. 12c: broilers. fancy rock. 29c; broilers. Leghorn. 23c: stogs. 1445 15c. Potatoes—Maine mostly $2.25 per 100 lb. sack; Idaho mostly s24i 2 10: Ohio and New York, $1,857? 1.90 per 100 lb. sacks. Other Livestock Bt United Pres* FT WAYNE. April 11—Hogs—10® 20c higher: 250-300 lbs. $4 05: 200-250 lbs., $3.95: 180-200 lbs.. *3 80: 160-180 ibs.. $3.70; 300-350 lbs . $3.35: 150-160 lbs.. $3 35; 140150 lbs.. $3.10: 130-140 lbs . $2.85; 120-130 lbs , $2,35: 100-120 lbs.. $2: roughs. $2.75; stags, $1.50. Calves, $6 lambs, $3.75 down. Bn Timet Special LOUISVILLE. April 11—Cattle Receipts. 175; supply very light; demand fairly broad; market fully steaav at week's levels: bulk common to medium steers and heifers. $4?4.75; well finished fed kinds mostly. $54? 5.75 and above for strictly good lightweights of the baby beef type; bulk beef cows. $2.50®3.25; practical top. $3.50: low cutters and cutters mostly $1,254/2 25; sausage bulls. 53.5 C down: common to medium native stickers and feeders mostly. s3® 4: well herd light hereford and shorthorn Stockers salable. $54? 525 Calve*—Receipts. 300vealers generally steady; better grades mostly. $4 yeS: strictly choice eligible. $5.50: medium and lower grades. $3.50 down Hags—Receipts. 900; market not established: few bids. STilSc higher at $4 on cood to choice 170-240 lb. weights: other interests not bidding, some seller: asking $4.05 for such kinds. Sheep—Receipts. 50; generally steady, except few spring lambs, unevenly higher; bulk medium to good wooled lambs. $74? 8 choice absent quotable higher: bulk light throwout lambs. $5; most fat wioied ewes $2 50 4?3; few sales spring lambs. 5107? 11 latter lor tome choice 67-lb. weights.

Bright Spots

<Bv Abbott, Hoppin * Cos i Delaware Power and Light Company controlled by the United Ga* and Improvement Company in 1933 had a ne' inrome of 51. 325.429 after charges against *1 504 - 129 in 1932. Western Pacific Railroad Company February net los> amounted to *251 049 after charges against *373.402 in February. 1933 Niagara Hudson Tower Corporation in first two months of this year earned $1,593,000. against $1,311,000 in the same 1933 period. Illinois Central Railroad car loadings in the week ended April 7 totaled 24 687 cars against 21,536 cars in the like 1933 week. Marine Midland Corporation March quarter combined net earnings amounted to $991,500. Chicago & Northwestern Railway system in the year ended Dec. 31 had a net 10.-s of $7,790,452 after taxes and charges against $14,081,054 In 1932. Erie Railroad officials estimate net income for first quarter of this year at $592,698, against a deficit of *1,677,792 in the first three months of 1933. Nickel Plate Railroad car loadings for own lines and connections in the week ended April 7 totaled 12 383 cars against 13 581 cars in the previous week. Grand Union Tea Company sales for four weeks ended March 13. totaled $2,122.297. aganist $1,893,121 in the like 1933 period. Interstate Department Stores March sales amounted to $1 337.283, against $1,127 857 in March of 1933. Orders received by General Electric Company during first quarter of this year amounted to $38.148.634, against 525,511,644 in the first quarter of last year. United Fruit Company, March quarter profit has been estimated al $1,604,000 before federal taxes, against $1,033,000 in the first quarter of 1933. Hahn Department Stores and subsidiaries in twelve months ended Jan. 31. had earning of 11 cents a share on the 6% per eent preferred stock against a net loss of $3,747,255 in the previous twelve months. Anaconda Wire and Cable Company and subsidiaries in 1933 had a net loss of $213,872 after all charges against $1,045.110 in 1932. ,T. C. Tenney Stores March sales amounted to $16,196,808 against $lO,231,073 in March. 1933. Chesapeake A- Ohio Railroad Company ear loadings in week ended April 7. totaled 23.649 cars against 31.190 in the previous w’eek.

OHIO STEEL OUTPUT SHOWS POINT GAIN General Mills Expected to Reach Full Capacity. Bp Times Special YOUNGSTOWN. April 11.—Prospects of a broad rise in steel production within the next few weeks caused operations in mills here to start the week at 56 per cent of capacity, a gain of one point over last week. Preparations for a 100 per cent operation in some mills is being made by district producers, who predict that ingot production will reach 70 per cent next month. The most active plant of *he district is the Carnegie Steel Company which began operations this week at 58 per cent of capacity, the same as last week. CREAMERY REPORTS INCREASE IN EARNINGS Beatrice Company Shows Gain of $58,763 for 1D33. Beatrice Creamery Company earnings in 1933 totaled $501,928 against $443,165 in 1932, an increase of $58,763. C. H. Haskell, president, announced in the annual report to stockholders this week. Total sales during the year amounted to $44,863,398, against $46,234,021 in 1932, a decrease of 3.02 per cent. Current assets of the companv, according to Mr. Haskell's report amount to $9,739,797 against $9,410,715 in the previous year, anc current liabilities total $825,483 against $748,539. On Commission Row —April 11— Fruits Apples—New York Baldwins, fancy. $1.75 up: fancy Staymans. $2.25; fancy Winesaps. $2.50. Oranges—California Sunklst. 13.2554 Florida.® s3®.® 3.25. Lemons—Sunkist, $5.50. Grapefruit—Arizona seedless 80s, $2.75® 3: Florida. $3.25. S^SD-awberrles —Louisiana. 21-pt. crate. Melons—Argentina Honeydews. $2.50. Pears—Calavos, $3.50 per bo:;. Bananas—Per pound. 5 cents. Vegetables Cabbage—New Texas. $1.25 per halfcrate; Florida red, $3.25 per hamper. Celery—Florida. $2.85 a crate: mammoth bunch, 85c: medium bunch, 45c hearts, dozen bunch. $1.35. Onions—lndiana vellow. 50-lb bag $1 35red. $1.15; Idaho. Spanish. $1.35. Potatoes—Northern round white 100-lb hag. $2: Red River Ohios. $2 20: Maine Green Mountain. $2 50: Colorado McClures $2.25. Idaho Russets. $2.25; Wyoming Triumphs. 50-lb, bag. $1.15: New Florida Triumphs. $2. Sweet Potatoes—lndiana Jersevs. per bushel. $2.25; Porto Ricans. $2. Asparagus—California select, crate. *2 25 ®. 3.50. Beans—Round, stringless. $3 50: lima, *4 Beets—New Texas. 3-dozen crate. $2. bulk per bushel. $1.50. Carrots—California. 6-dozen crate *2 75 bulk new. $1.40: bulk old. 51.75 Cauliflower—California. $2.35. Cucumbers—Hot house, per dozen. $1.25 Lettuce—Hot house. 10-lb. basket. 50c Iceberg best. $3.25® 3.75 a crate. Peas—2 B-lb. hamper. *2.35. Radishes —Hot house buttons, 60c a dozen. Rhubarb—Hot house, 50c a bunch. Spinach—New Texas. sl.lO ner bushel Tomatoes Repacked. 10-lb. carton. $1.25: selected, cellophane wrapped. *1.50 original Florida. 20-lb, lug. J2.ao.

Called 4th 4Y 4 % LIBERTY LOAN BONDS + + + Bonds Bearing Letters A, J and K, Final Digits 1, 9 and 0, Will Be Redeemed APRIL 15, 1934 by The United States Government + + + Holders Have the Privilege Until THURSDAY, APRIL 12th, of Exchanging the Called Bonds for New Treasury 334%y 4 % Bonds of 1944-46 (Quoted today above 101) + + + Our Services are Available for Either the Redemption or Exchange of the Called Bonds. THE INDIANA NATIONAL BANK 3 Virginia Ave. LI. 2331 The UNION TRUST CO. of Indianapolis 120 E. Market St. RI. 5341

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FUTURE VALUES MOVE UPWARD; VOLUME LIGHT Strong Tone in Securities and Cotton Aids All Deliveries. BY HARMAN W. NICHOLS United Tress Staff Correspondent CHICAGO, April 11.—A better feeling in stocks and cotton was transferred into the wheat pit today and prices firmed small fractions at the opening of the Board of Trade. Wheat deliveries held unchanged to % cent higher, corn was unchanged to % cent up. oats were unchanged to % cent off, and rye held unchanged to % cent lower. Weather reports over much of the wheat belts indicated unsettled and cloudy conditions. Liverpool wheat opened higher, but later slumped. Chicago Primary Receipts April 10— —Bushfls— Todav. Last w?fk. Whfat 280.000 200.000 Corn 264.000 $67,000 Oats 128,00 121,000 Chicago Futures Range —April 11— WHEAT— Prev. High. Low 10 00. close. May 8? .86% 87 .86-% July 87' .86% .87 .86% Sept 83% .87% 88 .87*4 CORN— May 49 % .49% .49% .49% i July 51 % .51% 51 % .51 % Sept. 54’. .53% .54 .53% OATS— Mav 32% .32% .32*4 .32’* Julv 33% .33% .33% .33% Mav 60% .60 ,60% .61% •Julv 62% .61 % .62% .62% * Sept . .63*4 .63 s a .63% .64% BARLEY— Mav 43'. .42% .42% .43 Julv 44% .44% ,44 s . .44% Sept 46% .46% CHICAGO CASH GRAIN Bt / J tiitcd Pres* CHICAGO. April 10.—Cash grain: Wheat, —No 2 red. 89c: sample grade red, 81e: ! No. 2 hard. 88%c: No. .3 hard. 85c. Corn i —No. 3 mixed. 49c: No. 2 yellow. 50%c; lake. 49%c: No. 2 white. 52c; lake. 51%c Oats—No. 2 white. 34%®34%c: No. 3 white. 33%c: lake. 33%c. Rye—No sales. Barley—4o® 60c; ouotable. 40%®80c. Timothy—s6.so® 7. Clover sed—sll® 13. Cash provisions: Lard. $6.05; loose. $4.87; leaf. $5.87; S. bellies, $8 TOLEDO CASH GRAIN Bit L tiiled Press TOLEDO. April 10.— Grain close: (Grain in elevators, transit billing)—Wheat—No. 2 red. 91® 92c. Corn—No.2 vellow, 53® 54c. Oats—No. 2 white. 37%® 38%c. Rve —No. 2. 66® G7c. (Track prices. 28',* ratei —Wheat —No. 1 red. 87®87%c: No. 2 red. 86W87C. Corn—No. 2 vellow. 49® 50c: No 3 vellow. 48® ® 49c: No. 4 vellow. 47® 48c Oats — No. 2 white, 34%® 36’ -c: No. 3 white. 34<8# 36c. Seed close: Clover —Cash, $8.25. Alsike —Cash, $8.50. ST. LOUIS CASH GRAIN B;i United Press ST. LOUIS. April 10 —Cash grain: Wheat—ln fair demand. %c higher; No. 1 red. 89c: No. 2 red. 86®88c; No. 3 red. 860/87c: No. 5 red. 84%: No. 3 red garlicky, 82%®87c: hard wheat, steady; No. 2 hard, 87c. Corn—ln fair demand, unchanged to %c higher; No. 2 yellow. 49'-c; No. 3 yellow. 49c; No 2 white, 51%c. Oats —ln fair demand, unchanged: No. 2 white. | 35%c; No. 3 white, 34%c!a35c; sample : grade white, 33%c. Indianapolis Cash Grain —April 10— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o b. shipping point, basis 41% New York rate, were: Wheat—Firm; No. 1 red. 82%®83%c: No 2 red. 81%®82%-c; No. 2 hard, 81%®1 82%c. i Corn-Firm, No. 3 white, 42%®43%c: No. j 4 white. 41%®42%c; No 3 yellow. 41%®> ! !2%c: No. 4 vellow. 40%®41%c; No. 3 mixed 40%®41%c; No. 4 mixed, 39%®' 40 %c. M I Oats—Stead'-: No. 2 white, 30@31c; 3 white. 29®„30c. % /Mr —lnspections ’ Wheat—No 1 red. 3 cars: No. 2 redß|j|i cars; No, 3 red. 1 car. Total. 6 cars. Mys#: Corn—No. 2 white. 2 cars; No. 3 vhltjgflii car: No. 2 vellow. 1 ear; No. 3 yellow. Total. 5 cars. Oats—No. 2 white. 2 cars: No. 3 wfjH 1 car; No. 4 white. 1 car. Total. 4 ca**!§! INDIANAPOLIS WAGON WHEAT Citv grain elevators are paving 78 cents tor No 2 soft red wnsat. utner grades on then merits 44 LOANS APPROVED $13,447,625 extended by Form Credit Administration. Approval of forty-four loans ag? gregating $43,848,865, to farmers\ co-operative associations was made between Jan. l and March 31 by the Central Bank Co-Operatives, farm credit administration, according to announcement today. According to the statement, $43,447,625 of the amount was to provide working capital to aid associations in marketing the products of fheir members, while the remaining $401,240 was to finance physical : facilities necessary for the co-opera-tives to carry on their business. Advertising Club to Meet Members of the Advertising Club of Indianapolis will hear Maxwell Droke, head of the Maxwell Droke Service of Indianapolis, speak tomorrow at the luncheon meeting. Mr. Droke will have as his subject, "Building Good Will.” -v

ARE YOUR “4TH” LIBERTY BONDS CALLED? Invest the proceeds of your called 4th Liberty Bond* in share* whieh have paid dividend- regularly for 4:i years. Fletcher Avenue Saving te Loan Association sharp* offer a sound, long time Investment secured by first mortgages on real estate FLETCHER AVENUE SAVING & LOAN ASSN. 10 E. Market St. Indianapolis Indiana