Indianapolis Times, Volume 45, Number 288, Indianapolis, Marion County, 12 April 1934 — Page 18

PAGE 18

Wall Street Prospect of Liberalization of Securities Act Cheers Brokers. BY RALPH IIENDERSHOT

Timet Snerial Financial Writer ALL Street was greatly cheered ▼ * by Washington developments recently, indicating a much more moderate stock market regulation measure than had been feared and an easement of the provisions of the securities act of 1933. Both of these developments should be of material assistance in helping the business recovery

along. They should also constitute an important factor in avoiding inflation later on. The Street has become reconciled to both market regulation and security selling supervision. In fact, the rank and file in the financial district now believe that handled properly, they will not

Ilendcrshot

only be a good thing for business but for the banking and security marketing business as well. They have been afraid all along, however, that the market regulation measure would be as destructive of business as the securities act has been. For a time it was not entirely clear whether the securities act was actually stopping the flow of longterm capital in to business or whether the stoppage was due to a lack of a market for securities. But in recent weeks it has become evident that the act was to blame or at least that it is to blame now. That high-,grade bonds of our corporations could be disposed of without difficulty at this time is obvious to investment authorities if the underwriting bankers felt they were justified in taking the risk of making offerings. nun Investment Market Better EARLIER this year, of course, investment conditions were such that even the government found the market none too receptive to now offerings. It was obliged to call on the Federal Reserve banks to support the market on occasion. Now, however, the government bond market has been taken out of the hands of the Reserve banks by outside investors, Including banks, other institutions and individuals, and investment funds have piled up to such an extent that the supply of such bonds as well as those of the better municipal credit risks is smaller than the demand. Evidently the administration is well aware of the situation. Otherwise it is doubtful that Eugene Black, governor of the Federal Reserve board and a supporter of President Roosevelt all along, would have come out so flatfootedly for modification of the securities act. nun Rigid Restrictions Helpful THE rigid features of the act have served a food purpose, though. They have given the government a monopoly over the new issue market at a time when it needed such monopoly. It virtually forced big investors to take government bonds or let their funds lie idle. Now, with confidence rapidly returning, but with anew crisis possible by reason of the demands for inflation and for government be good business to ease the situaloans to industry, it would seem to tion somewhat. Such easement would be likely to prove of little value, however, if the stock exchanges were to be crippled with restrictions. The underwriters need the facilities of the exchanges to help distribute their securities. It is small wonder, therefore, that the Street felt a load had been lifted off its shoulders as a result of the recent developments.

Daily Price Index By United Press NEW YORK. April 11.—Dun <fc Broadatreet's daily weighted price index of thirty basic commodities compiled for the United Press. <1930-1932 Average. 100). Today 107.92 Yesterday 108 04 Week Ago 107.52 Month Ago 109.92 Year Ago (April 12) 75.56 1934 High (March 12) 110.24 1034 Low iJan 3) . 101.05 Copyright, '34. by Dun & Broadstreet. Inc. Investment Trust Shares ißv Abbott. Hoppin & Cos.) —April 11— Bid Ask. American Bank Stocks Corp . 1.18 1.22 American & Genera! Sec A. 500 7.00 American A: Inv Tr Sh 1 50 Basic Industry Shares 363 3.70 British Type Inv Tr Sh .55 .62 Collateral Trustee Shares A 495 505 Corporate Trust Shares (Old) 221 224 Corporate Trust Shares (new) 247 2.50 Cumulative Trust Shares .... 426 .... Diversified Trust Shares A ... 625 Diversified Trust Shares B ... 8.12 8.37 Diversified Trust Shares C ... 331 336 Diversified Trust Shares D ... 5.00 5.12 First Insurance Stock Corp .. 130 1.35 First Common Stock Corp ... S3 .86 Fixed Trust Oil Shares A ... 875 .... Fixed Trust Oil Shares B ... 775 ... Incorporators Investments ... 19 00 19 25 Land Bank Bond Shares 1.10 1.23 Low Priced Trust Shares ... 6.70 685 Mass Inv Trust Shares 19 50 21 20 Nation Wide Securities .. .. 3.57 362 North Am Trust Shares (53) 195 2.00 No Arner Trust Shares (55-56) 250 254 North Am Trust Shares < 58.. 2 59 2 64 Selected American Shares 2.75 ... Selected American Shares Inc 129 134 Selected Cumulative Shares .. 7.00 .... Selected Income Shares ... 360 400 Std American Trust Shares A 3.11 3.14 Trust Shares of America 2.97 3.04 Trustee Std Oil A 5.75 6 00 Trustee Std Oil B 5 37 5.50 U S Electric Lt & Pwr A 12 62 13 00 Universal Trust Shares 3.17 3.23 Foreign Exchange (By Abbott. Hoppin &. Cos.) —April 11Close. Sterling England $5 16‘z Fianc. France OOS6O 1 * Lira. Italy 0857 Belgias. Belgium 2345 Mark Germany 3955‘a Guilder. Holland 6769 Peseta. Spain 1359 Krone. Norway 2597 Krcne Denmark .2310 Yen Japan 3043 jewel Tea sales gain Increase of 26.94 Per Cent Shown During; Four Weeks. Jewel Tea Company Inc., sales in four weeks ended March 24, amounted to $1,335,685. an increase of 26.94 per cent over the total of $1,052,210 for the corresponding period in 1933, M. H. Karker. president, announced this week. Average number of units in operation during the period was 1,498 against 1,431 in 1933. Sales for the first twelve weeks this year totaled $3,826,920, an increase of 19.24 per cent over last year. Average number of units in operation during that period was 1,486 against 1,428 in 1933.

STOCK SHARES RECOVER AFTER EARLY SLUMP Few Issues Spurt Fractions to a Point; Trading Turns Active. Average Stock Prices ...Average o f thirty Industrials for Werinescay: High 106 23. low, 104.64. close 105.16, up .11. Average of twenty rails, 50 68, 49.83, 50 28, up 47. Average of twenty uthitles. 26.05. 25.68, 25.85, unchanged. Average of forty bonds. 94 48, up 12. Average of ten first rails. 99 92, up .03. Average of ten second rails 83 95. up 23. Average of ten utilities. 97.21, unchanged. Average of ten Industrials, 96.76. up .22. BY ELMER C. WALZER ( tilled Press Financial Editor NEW Y'ORK, April 12.—A slightly firmer tone was noted on the Stock Exchange toward noon today after an irregularly lower opening. Leading issues were up fractions to a point, while some of the inactive preferreds rose as much as 7 points. Motors as a group were down slightly on fears of further strikes. Steels held steady. Among the wider gains were American Beet Sugar preferred at 71, up 7 1 i; Curtis Publishing Company preferred 82, up 5%; Radio preferred 37, up 2%, and Industrial Rayon 86%, up 2%. Gains of a point or more were made by American Beet Sugar common, Curtis Publishing common. Neisner Brothers, Loew’s, and United States Rubber issues. Steel common held at the previous close of 52 %; American Telephone firmed to up %; Attchison 70%, up %; ' Westinghouse Electric 39%. up Seaboard Oil 38%, up %; Montgomery Ward, 32%, up %, and National Biscuit 43%, up %. Bank Clearings INDIANAPOLIS STATEMENT , —April 12— Clearings $1,872,000.00 Debits 4.495,000.00 TREASURY STATEMENT By United Press WASHINGTON, April 12—Government expenses and receipts of the current fiscal year to April 10, compared with the corresponding period of the previous fiscal year. This Year. Last Year. Expenses *5.112,123.257.03 $3.898.904 283.10 Receipts 2,392.133,767.83 1.570 185 279.52 Deficit 2,719.989.489.20 2.328.719 003 58 Cash Bal. 4,659,399.333.45 New York Curb (By Abbott Hoppin & Cos.) —April 11Close! Close Allied Mills .. 8% Gulf oil of Pa.. 68 Alum Cos of Am 80% Hiram Walker.. 48 Am Beverage . 2% Hud Bay Min.. 13% Am Cyanide B . 21 Humble Oil 45". Am & For P W 6% Imp Oil Ltd 13% Am Oas &E 1 . 26 ilnt Petrol .... 24% Am Superpower 3% Lake Sh Min... 53% Asso Gas & El I%’ Libby McN Libby 6% Atlas C'orp 13% Lone Star Gas . 6% Brazil Tra fz Lt 11% Natl Bellas Hess 3% British Celanese 3% Newmont Min . 57% Can Indu Aic A 15VNia Hud Pwr .. 6% Can Marc 2% Novadel Agene , 64% Cities Serv 2% Pan-Am Airways 40% Consol Gas of B 59 (Park Davis . 24% Cord Corp .. 6% Penn Road 3% Creole Petrol 11% St Regis Paper 3% Crown Crk Inti 7% Sal (Seek Prod 7% Deere fz Cos . . 30 Sherwin Wins... 65% Distillers Lim . 24%!Std of Ind 27% Distillers Corp.. 19%; std of Kv 17% Dow Chem 80 Technicolor Ind 8% E Bond A- Share 16% Trek Hughes Gd 7% Fisk Rubber ... 18% Un Gas 3% Ford of Can A 23% Un Pwr & Lt A 3% Ford of Europe 7% Wr Hargraves M 9% Glen Alden Coal 17 ! U. S. Government Bonds By United Press NEW YORK, April 11.—Closing liberties, iDecimals represent thirty-seconds.) Liberty 3%s (32-47) 103.27 First 4Vis (32-47) 103.21 Fourth 4Vis (33-38) 103.14 Treasury 4%5-3%s (45) 102. 4%s 147-52) 110 29 3%S 143-47) 102 24 3%s (41-43) March 103.1 3%s ) 41) 102 26 3%s ) 46-49) 100 26 3s (51-55) 09,17 Federal Farm Loan Bonds (By Blyth & Cos.. Inc.) Bid. Ask. 4s Nov. 1, 1957-37 99% 100% 4s May 1. 1958-38 99% 100% 4%s July 1. 1956-36 100 101 % 4%s Jan. 1. 1957-37 100 101% 4% s May 1. 1957-37 100 101% 4%s Nov. 1. 1958-38 100 101% 4%s May 1. 1942-32 100 101% 4%s Jan, 1. 1943-33 100 101% 4%s Jan. 1. 1953-33 100 101% 4%s July 1. 1953-33 100 101% 4%s Jan. 1. 1955-35 100 101% 4%s July 1, 1955-35 100 101 1 * 4%s Jan. 1, 1956-36 100 101 % 4%s July 1. 1953-33 100% 101% 4%S Jan. 1, 1954-34 IQO% 101% 4%S July u 1934-34 100% 101% 5s May 1. 1941-31 101% 102% 5s Nov. 1. 1941-31 101% 102% Home loan 4s, July 1. 1951 . 100% 101 Federal. Farm Mortgage Corporation 3%s March 15. 1964-44 100% 101%

Bright Spots

(By Abbott. Hoppin & Cos.) Madison Square Garden Corporatiqn in three months ended Feb. 28 earned 33 cents a share against 29 cents a share in the like period last year. General Bronze Corporation in first quarter this year earned $891) against a net loss of $49,697 in the first 1933 quarter. Libby Owens Ford Glass Company in March quarter earned 54 cents a common share against 26 cents a share in the first quarter last year. Continental Can Company reports a steadv improvement in business, with sales in the first quarter of this vear 20 per cent above the same 1933 quarter. Granbv Consolidated Mining Company in the vear ended Dec. 31 had a net profit of $79,568 against a net loss of $1,845,820 in 1932. Woolworth Stores declares the regular Quarterly dividend of 60 cents a share on the common stock. Pennsylvania Railroad Company car loadings for own lines and connections in the week ended April 7 totaled 82,977 cars against 91.696 cars in the previous week. Interstate Department Stores earned 5 cents a common share in the fiscal year ended Jan. 31. against a net loss of $094,068 in the previous year. Glidden Company March net profit amounted to $271,510 after charges against $82,120 in March of 1933. American Radiator gross sales for the first two months of the current year were 48 1 j per cent above the corresponding period in 1933. Seaboard Oil Company of Delaware for quarter ended March 31 earned between 30 and 33 cents a common share, against 21 cents a share in the first quarter last year. Cluett Peabody Company declares the regular quarteriv dividend of 25 cents a share on the common stock. Loose Wiles Biscuit Company declares the regular Quarterly dividend of 50 cents a common snare. Report of Selected Industries for the quarter ended March 31, states net assets of that date were equal to SBB 64 a share on the prior stock outstanding, against $77 S3 a share on Dec. 31. and $56 a share on March 31. 1933. McCall Corporation declares the regular quarterly dividend of 50 cents a share on tne common. Callahan Zinc Leag Company proposes a change In the authorised capital stock to 2.000,000 shares of $1 par from 1.000.000 shares of $lO par. Production of electricity by the United States Electric Light and Power Company in the week enoed April 7, totaled 1 616945.000 kilowatt hours, against 1,399.367.000 kilowatt hours in the like 1933 week. The company also report an increase of 10 6-10 per cent over the previous week. American Water Works Power Company reported an increase of 20 per cent; American Power and Light Company an Increase of 13 7-10 per cent, and the National Power and Light Company an increase of 18 1-10 per cent.

New York Stocks ' (By Abbott, Hoppin At Cos.) ———————

—April 12— Prev. Oil*— High. Low. 10 30 clow Amerada 52% Atl Rfg 30% 30% Barnsdall 9H 9% Consol Oil 12% 12% Cont of Del 21% 21% Houston i new) 5% Mid Cont Pet 13% 13% Ohio Oil 13% 13% Pet Corp ..... ... 13% 12% Plymouth Oil 13% Sbd Oil 38 She!! Un 9% 9% Skeliv Oil 10% Soc Vac 17 17, S O of Cal 38% 38% SO of Kan ... 37% 8O of N J 46 % 46% Sun Oil 81 Texas Corp 27% 27% Tidewater Assn 12% Un Oil of Cal 18% 17% Mills 24% 24% Beth Steel 43% . Byers AM , 28% Col Fuel <fc Iron 6% 8% Inland Bteei 45 McKeesport Tin 6 91% Mid Steel 18 Natl Steel ••• 49 Otis Steel 6% 6% 8% 6% Rep I & S 22% 22 Rep I tz S pfd 60 U S Pipe & Fdy 19% U S Steel 52% 52% U S Steel pfd 95 Warren Bros 11% Youngstn SAT 29 28% Motor*— Auburn . ■ • • 52% Chrysler 53% 53% 53% 54% Gen Motors 38% 38% 38% 38% Gen Motors pfd 99 99 Graham Mot ... ••• 3% Hudson ... 20 s * Hupp _5% Mack Truck 33% 33% Nash 23% 24 Packard s’/* 5% 5% 5% Reo 4 Vs 4% Studebaker 7% 7% Yellow Truck 6% Motor Access— Bendix ... 19% 19% Bohn Alum 64% Borg Warner 25 Briggs 16% Budd Wheel ... . -3% Eaton Mfg 20% 20% 20% 20* s Elec Auto Lite . 28% 28 28 28% Houdaille A 5% Mullins Mfg 14 Mullins Mfg pfd 34 Murray Body ... 9% 9% Stew Warner ... 9% 9% Timken Roll .. ... 35% 36% Timken Det Axel 7% Mining— Alaska Jun ... 21% 21% Am Metals ... 25% 25% Am Smelt 44% 44% 44% 44% Anaconda 17% 17 17% 17 Cal & Hecla .... . . 5% Cerro De Pasco 37 36% 36% 37% Dome Mines ... 38 37% Granby 11% 12% C.t Nor Ore . 14% Howe Sound... 54% 54 54 54 Ins Copper ... . 6 Int Nickel .. 28% 28% Kennecott Cop.. 21% 21% 21% 21% Mclntyre Mine.. 48% 48 48 47% Noranda C’op... . .. 43% 43’i Park Utah 5% 5% 5% 5% Phelps Dodge.... 17% 17% 17% 17% St Joe Lead .. 24% 24% U S Smelters... .125% 124% 124’% 126% Vanadium 17'A Amusements— Fox Thea ... 15% 15% Loews Inc 34% 34 34 33% Radio Corp .... 7% 7% 7% .. R K O .. 3% Warner Bros ..v 7% 7% Tobaccos— Am Snuff ... ... 56 Am Sum Tob 18% Am Tob (At ■ 72% 71% Am Tob iB). 74 73 Ligg & Myers (Bt 93% Lorillard .. 17% 17% Reynolds T (B) 43% 43% 43% 43% Rails— Atchison ... 70% 70% Atl Coast Lines 49 B & O 30 Vi 30% Can Pac ... 17 17 Ch & Ohio 47% 47% 47% 47% Chi & Gt W 4% Chi & Gt W pfd 11% C M & St P 6% 6% C M Sz St P pfd . 11% 11% Chi N W 13% 13% 13% 13% Chi N W pfd 14% Dela & Hud 66% 66% Del Lac & W 29 Erie 22% 22% Erie pfd 27% Grt Northern pfd 29% 30 111 Central 33 K C Sou 16% Lehigh Valley ... 19% Lou & Nash -60 M K & T 12% 1? MK & T pfd 28% 28 Mo Pac 5 Mo Pac pfd . • BVs N Y Cent .. . . 38% 36% 36% 36% N Y Chi & St L . . 22% NYCh& SL p 33% 33 33% 33 N Y New Haven 19% N Y Ont & West 9% Norfolk & Wes. . . 179 Nor Pac 35% 34% 34% 35% Penn R R . 35% 35% Sou Pac 29% 28% 28% 29% Sou RR ... 33% 33% Sou R R pfd 39% Union Pac 133% Wabash 4% West Maryland 15% Equipments— Allis Chalmers * 20% Am Brake Shoe. 32% Am Car & Fdy 28% Am Car & Fdy p 53 Amer Loco 34 Am Loco pfd 70% Am Mach & Fdy 16% Am Steel Fdy 22 Bald Loco 14% 14% Bald Loco pfd 59% 59 3 4 Burroughs 16 15% 15% 16V4 Case J I 72% 72 72 72% Cater Tract 32% Derre & Cos 31 Elec Stor Bat 46% Foster Wheeler.. 19% Gen A Tnk Car 41% Gen Elec 23 22% 22% 22% Gen R R Sig .. 42% 42% 42% 42% Int Bus Mach 140 Int Harvester ... ... .. 42 Vi Natl Cash Reg 19% 19% Pullman Inc 57% 57% Rem Rand 12% 12% Und Elliot 46 45% West Air B 32% 32% Westingh Elec 38V* 38% 38% 38% Worthington Pm .: ... 27 26% Utilities— Am & For Pwr 10 10 Am Pwr Sc Lit... • 8 8% 8% AT&T 11% 119% 119% 119% Am Wat Wks .. 20% 20% 20% 20% Brook Un Gas . . .■• 67% Col Gas & Elec 15% 15% 15% 15% Col G E pfd 75 Com & Sou . 2% 2% Consol Gas .... 37% 37% 37% 37% Elec Pwr & Lit. . 7% 6% EP & L pfd ... 14% 14 14% 14 Int Hydro Elec ... ... 7% 7% Int T & T 14% 14% Nat Pwr & Lit 18% 18% Pac G&E .. ••• 19% Peoples Gas 37% Postal Tel pfd 24% Pub Serv N J 37% So Cal Edison 19% 19% Std Gas 12% 12% Std Gas pfd 12% Stone & Webster . ... 9% 9% United Corp .. 6% 6% 6% 6% Un Gas Imp 16% 16% Ut Pow & L 'A' ,3% West Un 57’A Rubbers— .... Firestone 22 21% Goodrich • • • 16 7 b Goodyear 38% 36% 36% 36 Kelly Spring ... • 3% U S Rubber 20% 20 20 19% U S Rub pfd 47 46' 2 Miscellaneous— „ ... Am Bank Note ... ... 19% 19% Am Can 105 105 Anchor Cap 21% Brklyn Man Tr 31 2 Conti Can 82% Crown Cork 31 Curtis Pub 27% 27 Curtis Pub pfd . • 78 76% East Kodak 90% 90% 90% 90% Gillette 10% 10% 10% 10% Glidden 27 26% 27 26% Inter Rap Tr 9% Owens Bottle 87% Raybestos Mfg 21% Foods— Am Sugar 53% 53% 53% 54 Armour 'A' 7% 7% Bettr Creamery 15 Borden Prod 23% 23% Cal Pack 27% Can Drv G Ale 27% Coca Cola 119 118% 118% 118 Corn Prod 77% 76 s * 76% 76% Crm of Wh 32% 32% Cub Am Sug 7% Gen Foods 34% 34% Gold Dust 21% 21% G W Sugar 30% 30 30‘A 30 Hershev 56% Int Salt 30 % Xoose Wiles .... 43% 43 43% 42% Natl Biscuit 43% Natl D Prod 16 16 Purity Bak 16% S Porto Rico S 35% 35 Spencer Kellog 22% Std Brands 22% 22% 22% 22% Un Biscuit 26% United Fruit 71 71V* Retail Stores— Asso Dry Goods 16% 16' j Best & Cos 34 ! 8 'First Natl Stores 65'*' Gimbel Bros 5% 5% Gimbel pfd 26 Gr Un Tea 6% 7 Hahn Dept Sts 7% Jewel Tea 47 Kresge S S 20% Kroger Groc 32 Macv R H 50 Marshall Fields. .. ... 19% 19% May Dept St ... ■ ... '. 42% Mont Ward 32% 32% 32% 32% Natl Tea .■ • 17% Penny J C 67% 66% 66% 67% Safeway St . • 64% Sears-Roebuck.. 50% 50% 50% 50% Wcolworth 52% 52% Aviation — Aviation Corp .. 9% 9 9% 9% Curtiss Wright . 4% 4V* 4% 4% Curtiss Wr (A) 11% Douglas Air 24% Nor Am Av • 6% 6% Speerv Corp ... 10% 10% 10% 10% United Aircraft. 23% 23% 23% 23% Wright Aero 60% Chemicals — Air Reduction. 100% ; Allied Chem ... .• 152% Am Com Alcohol Cos! Carbon ... . 70 )0% 'Com Solvents.... 30 29% 29% 30 i Dupont • • 98% 98% Freport Tex . 45% 45'2 Liauid Carb .... 30% 30 s * 30 s * 30% Math Alkali 36% Monto Chem ... 95 96 s * Natl Dis tnew).. 31% 30% 31 31 Schenelev Dis .. 38% 38 38% 38% Tex Gul Sulp 37% Un Carbide 45% 45% U S Ind Alco 54 Drug* Coty Inc 7% Lambert ... 27 27% Lebn & Fink 20 Un Drug 11% 18% ZoLite Prod .... .. ... ... 7%

THE INDIANAPOLIS TIMES

Financial— Adams Exp 10% 10 Aileg Corp 3% 3% Am Int Corp 8% 9 Chesa Corp 48% 48 % Lehman Corp 7<% Transamerlca .. 7% 7 7% 7% Tr Conti Corp ... 5% Building— Am Radiator ... 16 15% 15% 16 Gen Asphalt ... 20% 20 20 20% Int Cement 30 1 2 20% 30% 29% Johns Manv ... 58 Libby Ow Gls 38Vi 38 Otis Elev ... IS Household— Col Pal Peet ... 18 17% 18 17% Congoleum 28 Kelvinator . . 19% Mohawk Carpet 17% 17% 17% 17% Proc & Gam 35% 36 Sim Bed 21% 21% Textl'es— Amer Woolen ... .. 14% 14% Beld Hem 14% 14% 14% 14*2 Collins Aik ... . 23% Celanese Corp 38 38 % Gotham Hose . 10% Indus Rayon ... 88 85 85% 85% Kayser Julius 17% 17 s *

Chicago Stocks By Abbott. Hoppin Si Cos.

—April 12— High. Low. 11:30. Allied Products ... 13 Asbestos Mfg ... 3 Berghoff 8% Bendix Aviation . 19 v Borg Warner 25% 25% 25%' Butler Bros 12 11 11% Cent 111 Securities com. . .. % Chicago Corp com 2% 2% 2 s * Chicago Corp pfd 27% 27% 27% Cities Service . 2% 2% 2% Commonwealth Edison. 56% 55% 56% Cord Corp 7 6% 6% Electric Household 11% Gen Household Ut 16% 15% 16', Godchaux "B'’ . ... 8% Great Lakes Aircraft % Iron Fireman .. 12 Libby-McNeil 6% 6V4 6% Lynch Corp ... 33 Mid West Util % Mid W Util 6% pfd A % Nob-Sparks Indus Inc. 15 Potter Cos 7 Pub Serv N P 18 Swift & Cos 18 17% 18 Utility & Ind pfd 4 3% 4

Bond Prices

(By Fenner & Beane) —April 12 — High. Low. 10:30. Aileg Corp 5s *SO 45'/* 44% 45'/* Am & For Pwr 5s 2030 52% 52% 52% A T & T db 5s ’65 107% 107% 107'/* Atchison Gen 4s '95 102'/* 101% 102 B&O cv 4%s 60 71% 71V* 71% Beth Steel 5s A 36 102% Brazil 6V2S (26) '57 27% Can Pac 4s 79'/* 78% 79 CMStP&P adj 5s A 2000 19% 19% 19% CM St P & P rs 55 A '75 56% 55% 55% Cons Gas N Y 4%s ’57 103 Det Ed 5s '52 105 Erie R R rs 5s '67 77 76% 77 Goodyear 5s '57 99 98% 99 Gt Nor 4%s D '76 . 85 Gt Nor 7s A ’36 99 98% 99 Interboro R T 5s ‘66... •• 71 Int T & T db 5s '55 68% 68% 68% McKess & Robb 5%s 'SO 86% 86% 86% Nat Dairy db 5%s ’4B . 93% 93% 93% N Y Cent 4%s O 2013 81% Nor Am 5s '6l 89 Para Pub 5%S ’SO .... 53 52% 53 Penn R R 4%s D ’Bl 96V's Poland 7s ‘47 99% Royal Dutch 4s A ’45 139 Shell Un Oil 5s ’47 99% Texas Corp 5s ’44 .102% 102% 102% Tob Pr N J 6%s 2022 106% Un Pac Ist 4s '47 104% 104% 104'% U S Rubber 5s A '47 ... 87% 87% 87% Vanadium 5s ’4l . 83 Ygnstwn S& T B ’70.. 85% 85% 85%

MARCH AUTO OUTPUT REACHESNEW PEAK Production Up 208 Per Cent Over 1933'Period. By Times Special CHICAGO, April 12. March automoblie production among members of the National Automobile Chamber of Commerce reached the highest level since September, 1929. Total output for the month was 262,156 units, an increase of 208 per cent above the corresponding month last year, and 49 per cent greater than the February output. Production in the first quarter of this year totaled 539,128 units, an increase of 84 per cent over the first 1933 quarter. The report also states that the number of workers employed by Chamber members likewise surpassed all monthly figures since the high month in 1929. NEW BONDS FAVORED BY FARMERS, BANKERS Payment Pledge by Government Commends Securities. Reaction of farmers and bankers of Indiana, Ohio and Kentucky to the new Federal Farm Mortgage Corporation bonds, now being used in lieu of cash in making federal land bank and land bank commissioner’s loans on land, is exceedingly favorable, Colonel Frank D. Rash, president of the Federal Land bank of Louisville, stated recently. The guarantee appearing on the face of the bonds, Colonel Rash pointed out.' unconditionally pledging against payment both of principal and interest by the government, immediately commends these bonds to bankers and other farm creditors. From the holders’ standpoint, the new farm land securities are the equivalent of United States government bonds. MOTOR FIRM PROFITS UP DURING RECEIVERSHIP Studebaker Earns $54,619 After * Huge Early Loss. By Urifted Press SOUTH BEND, Ind.. April 12. The Studebaker Corporation and its subsidiaries showed a net profit of $54,619 during the time it was under receivership in 1933, the annual financial statement showed today. The loss in 1933 before the receivers were appointed March 19, was $4,930,926, leaving a net loss for the year of $4,876,307. The balance sheet showed that stock of the White Motor Company was reduced from book value to cost, indicating that the receivers do not contemplate completing the merger with White, which was proposed before Studebaker went into receivership. STORE SALES REVEAL GAIN OF 44 PER CENT Emporiums Enjoying Best Business Since 1932. By United Press WASHINGTON, April 12.—A record breaking 44 per cent gain in sales of the country’s department stores during March gave government officials today concrete evidence of the extent of this spring’s business upturn. Department store sales, compiled by the federal reserve board, showed that more money was passing over the nations counters than at any time since April, 1932. Net Asset Value Rises Net asset value per share capital stock of International Carriers, Ltd., March 31, 1934, was $9.58, according to the quarterly report for the first three months of 1934, made public today. This compares with net asset value of SB.IO per share on Dec. 31, 1933.

SWINE MARKET OIPS 10 CENTS; CATTLESTEAOY Lambs Continue Unchanged —Vealers Strong at $6.50 Down. Slight reaction in hog trading at the union stockyards this morning sent prices around 10 cents lower than yesterday’s average. The strong undertone of the previous session disappeared as practically all classes participated in the initial decrease. General bulk of 160 to 300 pounds sold at $4, while few better grade porkers were selling from $4.05 to $4.10. Smaller weights scaling 130 to 160 pounds, brought, $3.15 to $3.65. Exceptionally light slaughter pigs ranging from 100 to 130 pounds were saleable around $2.15 to $2.10. Receipts were estimated at 6,000. Holdovers, 332. All slaughter classes of steers In the cattle market remained unchanged. Five loads of heavy steers averaging around 1,657 pounds, sold at $6, while a single of other kinds was valued at $7. Most heifers held under $5.50. Receipts numbered 800. Strong undertone prevailed in early veal trading, with most classes around 50 cents higher than the previous close. Bulk ranged from $6.50 down. Few choice grades were reported saleable up to $7. Receipts were 700. With only little change evident in the lamb market, practically all prices continued stationary. Early bulk of clipped grades brought $7.50. Wooled offering held at $9.15 to $9.25. Receipts were 400. Asking on hogs at Chicago was strong to slightly higher than yesterday's average with initial bids scarce. Receipts were estimated at 17,000, including 3.000 directs; holdovers, 3,000. Cattle receipts numbered 6,000; calves, 2,000; market, unchanged. Sheep receipts 12,000; marnet steady to weak.

HOGS April Bulk. Top. Receipts. i $4.10(5; 4 25 $4.50 6 000 7. 4.05® 4.20 4.25 2.000 9. 3.85® 4 00 4.05 9 000 10. 3.75® 4.00 4.00 7.000 12. 4 00 4.15 6.000 11. 4.00® 4.10 4.15 5.000 Market, lower (140-160) Good and choice S 3.40® 3.65 . —Light Weights—-(l6o-180) Good and choice... 4.00 (180-200) Good and choice .. 4.00 —Medium Weights—-(2oo-220) Good and choice .. 4.00® 4.10 (220-250) Good and choice .. 4.00@ 4.10 —Heavy Weights—-(2so-290) Good and choice .. 4.00® 4.10 (290-350) Good and choice... 3.80@ 4.00 . —Packing Sows—(3*o 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. Steady (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 (675-750) 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 excluded)— Good (beef steers) 3.00® 3.75 Cutter, common and medium.. 1.75® 3.00 VEALERS Receipts. 700; market, higher Good and choice $ 6.50® 7.00 Medium 4.00® 6.50 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 — (500-900) Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 (800-1.500) Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts, 400; market, steady shorn basis (90 lbs. down) Good & choice $ 7.00® 7.50 (90-110 lbs.) 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 12.—Hogs—Receipts, 17.000, including 3,000 directs; slow, mostly 5c lower than yesterday; 170-260 lbs.. $404.10; top $4.10; 270-345 lbs., $3.75® 4; light lights, $3.50 04; good pigs. $2.75® 3.25; packing sows, $3.1003.35; light lights. 140-160 lbs., good and choice, $3.50 ®4; light weights 160-200 lbs., Good and choice, [email protected]; medium weights, 200250 lbs., pood and choice, [email protected]: heavy weights. 250-350 lbs., good and choice, $3.7504.05; packing sows, 275-550 lbs., medium and choice. $303.50; slaughter pies. 100-130 lbs., good and choice, $2.5003.50. Cattle—Receipts, 6 000; calves, receipts, 2,000; fed steers and yearlings, strong to 25c higher; Weighty steers up most with inbetween grades snaring most advance; few well-finished light cattle in crop; bulk light steers and yearlings. $5.25 (5 6.50; weighty steers, 56.25® 7.25; choice 1,500 pound averages $7.65; other killers stronger; yearling heifers up to $6.35; slaughter cattle and vealers: steers, 550900 lbs., good and choice. $6.35®7.75; 9001.100 lbs., good and choice, $6.35® 7.75; 1.100-1300 lbs., good and choice. $6.50® 7.75; 1,300-1,500 lbs., goo dand choice. $6 2507.75: 55-1.300 lbs., common and medium, $4.25® 6.50; heifers. 550-750 lbs., gefod and choice, $506.35; common and medium. $3.5005: cows, good, $3.75®4.50; common and medium, $2.8503.75; low cutter and cutter, $1.9002.85; bulls yearlings excluded, good beef, $3.15 5? 3.75; cutter, common and medium, $2.7503.35; vealers, good and choice, $5 0 8.50; medium. s4®s; cull and common, s3®4; stocker and feeder cattle: steers. 550-1.050 lbs., good and choice. $4.75®5.75; common and medium, $3 2504.75. Sheep—Receipts, 12,000: fat lambs, opening slow; talking steady to easier; choice woll lambs above $9.50; early bids. $9.25 and lower; few good clip lambs, $7.50; sheep steady; slaughter sheep and lambs; lambs, 90 lbs. down, good and choice, 58.90®9.60; common and medium, s7®9; 90-98 lbs., good and choice, $8.75® 9.50: ewes, 90-150 lbs., good and choice. $3.7505.25: all weights, common and medium, $304.25. LAFAYETTE, April 12—Hogs—Market steady to 10c lower; 200-325 lbs., $3.60® 3.85: 160-200 lbs. S3 65®3.75: 140-160 lbs, S3 10®3.40: 125-140 lbs., $2.5002.80; 100125 lbs., $1.75® 2 25; roughs. $3 down. Top calves. $5.50. Top lambs, SB. PITTSBURGH, April 12.—Hogs—Receipts. 1,000: holdovers, none; fully steadv; top and bulk, $4.50 on 170-220 lbs.; 220250 lbs.. $4.25®4 40; heavier weights. $4 25 down; 130-140 lbs.. $3.250 3.50; 120 lbs., down. 52.7503; sows, largely $3.25. Cattle —Receipts, 10: nominal. Calves—Receipts, 75: unchanged: good and choice vealers. $606.50. Sheep—Receipts, 1,000; steady, to 25 cents higher: woo! lambs, absent, quotable up to $9.75. for best kinds: clipped wethers, around $4 25 down; few spring lambs. $11.50. CLEVELAND. April 12—Cattle—Receipts, 175: market, steadv; choice steers, 750-1.100 lbs.. 56.i00 7.5d: 550-950 lbs.. $5.5006 50: 900-1.200 lbs., $5.500 6.50: heifers. 600-850 lbs.. $4 50® 5.50: good cows all weights. $3.5004.25. Calves—Receipts. 400- market, active and steady; prime veals. $6 50® 7; choice veals, s6® 6.50; medium. ss® 6: common. S3O 4.50. Sheep and lambs—Receipts. 1.000; market, steadv. good to choice wool lambs, *9® 9 50: medium to good. s7®9: culls and cuts. ss® 7: choice clipped lambs. $7®7.50; medium to good, ss®7; prime wether sheep. ss®6: choice ewes. s4®s: medium to good. S3 04. Hogs—Receipts. 1,000: market, 10 cents lower; all sold: 250-300 lbs s4® 4.15: 220-250 lbs . $4.1504.25; 180-220 lbs.. $4.25: 150-180 lbs., *4 25; p‘cs, 100-'4O lbs., $2.75 03; roughs. $2.75; stags. $1.75. By Times Special LOUISVILLE. April 12.—Cattle—Receipts. 150: supply, light; demand, fairly broad; market, fully steady; bulk common to medium steers and heifers. s4®s; most better finished offerings. $5 250 5.75; strictly good babv beef type eligible higher: bulk beef cows. 12 50 ©3.50; good smooth heifers types, quotable higher: low cutter and cutters, mostly $1 255 2 25: sausage bulls, $3 75 down: common to medium native Stockers and feeders, mostly S3® 4: well bred light Hereford and Shorthorn Stockers. ss® S5 50. Calves—Receipts. 350: steadv; bulk better vealers. $4.500 5; strictly choice kinds. $5.50; medium and lower grades. $3.50 down. Hogs—Receipts, 1.000; market, 10 cents lower; 170-240 lbs, $4: 245270 lbs, $3.65; 275 lbs. up, $3.30: 145-165 lbs.. $3.15: 120-140 lbs.. $L80; sows, $2.05. Sheep—Receipts. 50; mostly steady; medium to good wooIM lambs, s7@g; choice, absent, quotable higher: common light throwouts. $5; fai wooled ewes. $2.500 3; spring lambs considered salable, mostly at $lO g H.

Government Wheat Crop Estimate Exceeds 1933

Condition of Major Grains in Indiana Placed at 78 Per Cent. By Times Special CHICAGO, April 12.—Suggestion cf a 491.000,000 bushel wheat crop was made by the government in the April report issued recently. The report was 15,000X00 busheis below private estimates, but 140.000.000 bushels in excess of the 1933 crop. The wheat crop was placed on a 743 per cent basis, the same as on Dec. 1, 1933. Average for the last ten years is 79.2, and the all time lew is 59.4 per cent, made in 1933. Average yield during the period from 1927 to 1931 inclusive was 632,000,000 bushels. The United States department of agriculture in commenting on the statement said that- present indications are that 14 per cent of the estimated 41,002,000 , acres seeded last fall wound be abandoned. Last year 33.4 per cent was abandoned. The average for the last ten years is 12 2 per cent. No estimate was made on the rye crop, with the condition placed at 63.8 per cent, the lowest on record for the season. Chicago statisticians construes the report as suggesting around 27,000.009 bushels, or 6.009,000 bushels more than the limited harvest. of 1933. Farm reserves esntimate of wheat, corn and oats were somewhat above trade expectations, although supplies of wheat and oats were the smallest in the last four years, and of corn the smallest since 1931. Condition of wheat in Indiana was placed at 78 per cent. Production in Indiana to April 1, was 25.392.000 bushels, against 23,152,000 bushels in the like 1933 period, and 22.976 bushels in the corresponding 1932 period.

Produce Markets Delivered In Indianapolis Prices—Hens, 11c, Leghorn hens. Bc. Leghorn spring-er-stags. 6c; large springer-stags. 9c; cocks 5 lbs. and over 6c; under 5 Tbs., 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 weigh 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@24c; butterfat, 21c.— Quoted by Wadley. By United Press CHICAGO. April 12.—Eggs—Market, steady; receipts, 27,740 cases; extra firsts, 16%c; fresh graded firsts, 16c; current receipts, 15c; dirties. 14c; checks, 13%c. Butter—Market, firm: receipts, 7.075 tubs; extra firsts, 90-91 score. 20%@21c; firsts, 88-89% score. 20%<<j20%c; seconds. 8687% score. 19%c; extras, 92 score, 21 Vic; specials, 22@22%c: standards. 21c. Poul-try-Market, steady; receipts 31 trucks, 2 cars, 2 due; heavy hens, 13%c; ducks. 12®15c; old roosters, 9%c: springs, colored and white rocks, over 3 lbs., 23c; colored and white rock broilers. 1-2 lbs.. 26c; geese, 8c; Plymouth rock fryers, 26c; Leghorn broilers. 22c; barebaeks, 19c; capons, 20c; colored and white rock fryers, over 2 ibs., 25c, Cheese —Twins. 12@12%c: Longhorns, 12%®12%c; Daisies, 12% Cn 12%c. Potatoes, old stock—Supply liberal; demand and trading slow; market, steady, dull; Idaho Russets 6 cars, $1.65, two cars fine quality $1.72%; Washington Russets combination grade 1 car $1.47. 3 cars $1.50. U. S. No. 2 1 car $1.40; Red River section. North Dakota Red River Ohios, mostly around $1.50. 1 car $1.55. 1 car $1.57%; Nebraska Triumphs i car $1.55; Wisconsin Round Whites 1 car $1.55; North Dakota Russets red and white, partly graded, $1.15. New stock; supply moderate; demand and trading moderate; market, steady; 100 lb. sacks Texas Bliss Triumphs, $3.10®3.20; to Jobbers, Florida bushel crates Bliss Triumphs few sales. [email protected]%. Shipments, 711; arrivals, 108; on track, 355. CLEVELAND. April 12.—Butter—Market, firm; extras, 25%c; standards. 25c. Eggs —Market, weak; extra white. 15%c: current receipts, 15c. Poultry—Market, steady; colored fowls, 4% lbs. and up. 17c; colored fowl, medium, 16c; Leghorn fowl, 3% lbs. and up, 15c; Leghorn fowl, 13c; broilers, colored, 25c; old roosters, 10c; ducks, white, 5% lbs. and up. 20c. Potatoes —Maine, mostly $2.25 per 100-lb. sack; Idaho, mostly $2; New York and Ohio, $1.85®.1.90; Michigan, [email protected]. NEW YORK. April 12.—PotatoesSteady; Long Island, [email protected] barrel; southern, s2.soff/5.75 barrel; Maine, sl® 3.75: barrel: Idaho, $2®2.20 sack: Bermuda. ss® 6 barrel: Canada, sl.Bo® 1.90 barrel. Sweet potatoes—Quiet: Jersey basket, 50c®51.60; southern basket, sl® 1.60. Flour—Dull; springs: patents, $6.25 ® 6.50 barrel. Pork quiet: mess. $20.25 barrel. Lard—Easy; Middle west spot. $4.60® 4.70 per 100 pounds. Dressed poultry. firm: turkeys. 18®25%c; chickens. 9®, 29c: broilers, 16®29c; capons. 20®32c; fowls, 14® 18c; Long Island ducks, 15® 17c. Live poultry—Steady; geese, 7®9c; turkeys, 18@25c: roosters. 10c: ducks. 8® 12c; fowls, 14®18c; chickens, 10@12c; capons, 22c; broilers. 14® 27c. Cheese— Quiet: state whole milk, fancy to specials, 18® 19c. Butter—Receipts, 15.324 packages; market, firmer: creamery, higher than extras. 23%®24c; extra, 92 score. 23c; firsts. 90-91 score. 22%®22%c: firsts, 89 score. 22®22%c; centralized. 90 score, 22%c: centralized. 89 score. 22®22%c. Eggs—Receipts. 20.768 cases: market, steady; special packs, including unusual hennery selections. 18%ff20%c; standards, 18®18%c: firsts, 16%®16%c; seconds. 15% ®l6c: mediums. 15%®15 a c; dirties. 15%c; checks, 15c; storage packs, 17'/*® 17%c.

CHICAGO FRUIT MARKET By United Press CHICAGO. April 12.—Apples—Michigan Baldwins, $1.50 bushel. Carrots —Illinois. 50c bushel. Spinach Texas. $1®1.40 bushel. Beans—Southern. green. $1.75® 2.50: wax, $1.25®1.50. Cucumbers—Central western hothouse, s2® 2.50 (2 doz. to boxi. Tomatoes—Florida, $1.25® 2 75 box. Sweet Potatoes—Tennessee, $1.50®1.65: Indiana, s2® 2.10. Mushrooms —Illinois. 17%®32%c (lb. cartons). Asparagus—California, $2,25 ®3.25 (doz. bunches). Leaf Lettuce—llll- - hothouse. 12%c (box). Union market (50-lb. sacks): Western Valencias. 75c @$1.10; western whites, $1.50: Michigan yellows. 65® 85c; Oregon, yellows, 65® 75c; central western, yellows. 50®80c: Texas, yellows, $1.85. WEATHER FAVORABLE FOR INDIANA CROPS State Temperatures 10 Per Cent Above Season’s Normal. Weather conditions throughout the state during the last week have been exceptionally favorable for crop growth and greening, J. H. Armington, local weather bureau head, announced today. Temperatures have been averaging 10 per cent above the seasonal normal for the state, and good rains have aided state farming, especially in the central and southern counties. The main farm work now in progress is plow’ing and oats sowing, with sowing finished in some extreme southern localities. Some fields already are up. Clover seeding also is reported from many sections, and potato planting and truck crop work is well advanced in the south. Fruit buds are swelling in most orchards, with many trees in the southern part of the state already in bloom.

C. OF C. OFFERS LOAN AID TO BUSINESS Plan Worked Out Recently Gets Nationwide Notice. Inquiries from business men throughout the state and even from other states have been received by the Indianapolis Chamber of Commerce on its offer to co-operate in obtaining loans for firms. The chamber industrial commission several days ago offered its services in assisting business men in preparing applications for loans which may be available through the reconstruction finance corporation, or the proposed new credit banks for industry. Curtis H. Rottger, commission chairman, said the loans may be made on unencumbered fixed assets.

CURTIS WRIGHT REPORTS SUBSTANTIAL INCREASE Net Operating Profit Amounted to 5136.787.45 in 1933. Net operating profit of the Curtis Wright Corporation in 1933. after deductions for depreciation and amortization, totaled $136,787.45 of which amount $135,896.27 is applicable to shareholders, it was revealed in the annual report of the company. The report showed a substantial improvement over 1932 when a loss of $606,182.51 was made. Gross sales, however, decreased last year from $12,406,720.84 to $10,450,728.59. CITY LIGHT CO. INCOME DROPS ‘Book’ Deficit of $103,770 Is Shown in Report for 1933. The Indianapolis Power and Light Company failed to pay dividends on its common stock for the second successive year and showed a “book" deficit of 5103.770.27 for 1933 in the annual report filed by the company with the public service commission. Despite the fact that the light company failed to pay dividends on its common stock, the omission was regarded more as a matter of policy than necessity. The annual report revealed that the light company had a surplus of $672,145.08 available on Jan. 1' which could have been used to pay the common stock dividends. The light company, according to the report, did dip into its surplus fund, however, to make up $103,770.27 of the $900,634.47 necessary to pay dividends to the preferred stockholders. A number of Items, which included a loss in the gross revenues and an increase in taxes, were blamed for the drop in the income of the company. On the other hand, the report showed an increase of more than 700 consumers for 1933 over 1932, Total expenses of the company also were decreased in 1933, along with a decrease of more than $14,000 in preferred stock dividends. The annual report showed that energy sales declined more than 7,000,000 kilowatt hours in 1933 which, it is claimed, indicates that there has been little gain in industral power load since last year.

NATIONAL BELLAS HESS RECEIPTS HIT NEW HIGH March Sales of Mail Order House Rise 100.24 Per Cent. By Times Special NEW YORK, April 12.—Gross receipts of National Bellas Hess, Inc., Kansas City and New York mail order house, amounted to $1,167,911, the largest total in the history of the present company, and an increase of 100.24 per cent compared with sales of $580,912 reported for March, 1933, Carl D. Berry, president, announced in a statement issued today. For the eight months of the current fiscal year to March 31, 1934, total sales were $5,436,040. Comparison with last, year is unavilable as the company only s s arted operations on Oct. 1, 1932. Total sales for the six months from Oct. 1, 1932, to March 31, 1933, however, were $2,794,043. On Commission Row —April 12— Fruits Apples—New York Baldwins, fancy. *1.75 up; fancy Stayraans. $2.25; fancy Winesaps. $2.50. Oranges—California Sunkist, $3.2504Floridas, s3@@3.2S. Lemons—Sunkist. $5.50. Grapefruit—Arizona seedless 80s. $2,750 3; Florida. $3.25 Strawberries—Louisiana, 24-pt. crate $3.25®3.50. Melons—Argentina Honeydews, $2.50. Pears—Calavos, $3.50 per box. 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 35; red. $1.15; Idaho. Spanish. $1.35. Potatoes—Northern round white. 100-lb bag. $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. California select, crake. $2.25 Beans—Round, stringless. (3 50; lima $3 25® 3.50. Beets—New Texas, 3-dozen crate, *2: bulk per bushel. $1.50. Carrots—California. 6-dozen crate $2 75: bulk new. *1.40: bu’k old. *1.75. Cauliflower—California. $2 35. Cucumbers—Hot house, per dozen, *1.25. Lettuce—Hot house 10-lb. basket. 60c; Iceberg best. *[email protected]$ a crate. Peas—2B-Ib hamper. $2.25. Radishes—Hot house buttons. 60c a dozen. Rhubarb—Hot house. 50c a bunch. Spinach—New Texas. sl.lO per bushel. Tomatoes Repacked. 10-lb. carton. $1.25: selected, cellophane wrapped. $1,50; original Florida. 20-lb. lug. $2.50 NEW YORK COFFEE FUTURES —April 11— SANTOS High. Low. Close. March 11.26 11.21 11.26 May . i0.5l July 10 83 10 73 10.75 September 11.12 11.04 11.10 December li 19 RIO January 8 63 March 8.65 May 8 32 8 30 8 30 Julv 8 48 8.44 8 44 September 8,51 December 8 58 NEW YORK RAW SUGAR FUTURES —April 11— High. Low. Close January 1.60 1.56 1 60 March 1.65 1 60 1 65 Mav 1.42 1.36 1 41 July 1 48 1 42 1 47 September 1.54 1 48 1 52 December 1.59 1.53 1 59

WEEK-END EXCURSION RATES Round Trip to CINCINNATI ... $3.00 MADISON $3.00 MILAN $2.50 Comparative low rates to all intermediate points. Leave Traction Terminal Station 7:30. 10:00 a. m.. 1:30. 3:30, 4:30, 5:45. 8:00, 11:15 p. m. Tickets Good on all Coaches. New Route now open through Osgood, Milan, Moores Hill to Cincinnati. For Details Cali Riley 4501 Indianapolis & Southeastern Lines

APRIL 12,1934

CRAINS FOLLOW SECURITIES TO LOWER LEVELS Liverpool Strength Ignored: Traders Await News From Capital. BY HARMON W. NICHOLS United Pres* Stiff Correspondent CHICAGO, April 12— Grain followed stocks lower at the opening of the Board of Trade today in continued dull turnover. Wheat was % to ’* cent lower, corn was % to s s cent off. oats were unchanged to % cent lower, and rye was % to % cent lower. Fractional strength in the Liverpool wheat pits virtually was ignored while the trade turned to Washington to await settlement of political and economic problems. Dust storms over parts of the wheat area and news of bright possibilities from the Rome conference did not affect early dealings. Chicago Primary Receipts —April 11— —Bushels— Tod a v. Last wee k . Wheat 341.000 384.000 Corn 244 000 208 000 Opts 82.000 82.000 Chicago Futures Range —April 12— Prev. WHEAT— High. Low. 10 00 close. May .86% .86% 86% .86% Julv 86% 86% .86% .86% Sept 87% .87% .87% .87% CORN— May 49 .48% .48% .49 Jjlv 51 % .51% .51% .51S 3ept 53% .53% .53% .54% OATS— May 32% .31% .31% .32% Julv 32% .32% .32% 32% Sept 32% ,32 s * .32% .33 RYE— May 59% .59% .59%- .59% Julv 61 .60% 60% .61% Sept 63 .62’* .62% .63% BARLEY— May 42% Julv 44' 3 Sept 45% ST. LOUIS CASH GRAIN* By United Press ST. LOUIS. April 11—Cash grain: Wheat —In lair demand, steady to %c lower: No. 1 red. 86%c; No. 2 red, 86® 88c: sample red, 83%c; hard grades, steady; No. 2 hard. 87c. Corn—ln Quiet demand. %c higher; No. 2 vellow, 50c; No. 2 white. si%c. Oats—ln good demand, unchaneed to %c higher: No. 2 white, 35%®35%c; No. 3 white, 35c. Indianapolis Cash Grain —April 11— 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—Easy; No. 1 red, 82® 83c; No. 2 red, 81@82c; No 2 hard. 81®82c. CORN—Steady; No. 3 white. 42%'a 43'ic; No 4 white. 41%@42%c; No. 3 yellow. 21% ®4S%c: No 4 vellow. 40%®41%c; No 3 mixed. 40%@41%c; No. 4 fitrxed. 39%$ 40%c. OATS—Easy; No. 2 white. 30931 c: No. 3 white, 29® 30c. —lnspections WHEAT—No. 1 red. 2 cars; No. 2 red, 5 cars: Total, 7 cars. CORN —No. 2 white 1 car; No. 3 white, 1 car; No. 4 white. 1 car; No. 2 yellow, 4 cars: No. 3 yellow, 8 cars; No 3 mixed, 2 cars: No 6 mixed. 1 cars; total. 19 cars. I OATS—No. 2 white. 7 cars: No. 3 white. 4 cars; No. 4 white, 1 car; total. 12 cars. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 78 cents for No. 2 soft red wheat. (Jtner grades on their merits. Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES Anthracite $4.29 Coke, nut size 8.75 Coke, egg size 8.75 Indiana, forked lump 5 50 Indiana, egg. 5.00 Indiana, mine run 4.75 Kentucky lump 7.00 Pocahontas lump 8 25 Pocahontas egg 8.25 Pocahontas forked lump 9 25 Pocahontas mine run 7 25 New River smokeless 8 25 West Virginia lump 6 75 West Virginia egg 6 50 Island Creek 7 00 Extra charge of 50c a ton for wheeling coal, and *1 a ton for coal carried to oin. In the Cotton Markets —April 11— CHICAGO High. Low Close. January 12.55 12.43 12 43 May 12 16 12.05 12 05 Julv 12 27 12 16 12 18 October 12.41 12.25 12 25 December 12.51 12 37 12 37 NEW YORK January 12 49 12.34 12 34 March 12 56 12.45 12 45 May 12.03 11.94 11 94 July 12.17 12 05 12.05 October 12.31 12 18 12.18 December 12.41 12 29 12 29 NEW ORLEAN3 January 12 33 March 12 45 May 12 09 12 00 12 01 July 12.16 12 08 12 07 October 12.30 12.19 12 20 December 12.37 12,29 12 29

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