Indianapolis Times, Volume 45, Number 290, Indianapolis, Marion County, 14 April 1934 — Page 14

PAGE 14

Wall Street Hearings Before Referees on Proxy Fights Would • Aid Stockholders. BY RALPH HENDERSHOI Tim** Special Financial Writer WHEN the “insiders" in a corporation have a “falling out" the result is usually a messy affair. All sorts of charges and countercharges invariably are made, with the result that the stockholders, who are a-ked to decide which faction is right, are left, in total .confusion and with no way of bringing the facts to the surface. The present fight over who will or

will not run the Reo Motor Car Company furnishes an excpl1e n t example. Veiled charges and charges not quite so veiled of incompetence and crookedness have been made by the opposing factions with the idea of influencing votes, and stockholders, with no way of telling which side to believe, probably feels as if

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they would like to throw both sides out on their ears. But, unfortunately, they are un- j able to express their actual opinions. They must choose between two sac- j tions, both of which are under fire. Under the circumstances it might not be a bad idea if the state or federal government were to set up machinery to hold hearings before a referee in such instances, with the idea of bringing out the facts. Transcripts of the testimony taken could then be sent to stockholders, along with proxies, and they could then vote with some degree of intelligence. a a a The Clearing House Suit 'TT'HE suit against the New York -A- Clearing House member banks brought in behalf of depositors and other creditors of the defunct Harriinan National bank is expected to go to trial within the next few weeks. The banks are being asked to make good on the losses suffered by reason of the Harriman failure on the ground that executives of the Clearing House Association had agreed with the banking authorities in Washington that they would see the Harriman through if it was allowed to remain open after examiners had discovered irregularities. Several of the member institutions have refused to be bound by this agreement, because, they claim, the committee had no authority to make such a contract. It is reasonable to suppose, of course, that the committee was between the devil and the deep blue sea when it sought to come to the aid of the Harriman. They undoubtedly felt that if the bank w'as closed at the critical time, when the irregularities were discovered, other banks and the country at large would suffer. Probably they also were unaware of how serious conditions were with the bank and were betting on the new official they selected being able to pull it out of its difficulties. ana Ruling Will Be Interesting T>UT irrespective of the compli- •“-* cated conditions which gave rise to the suit, it will be interesting to see how- the court rules. It will be particularly interesting to see if it will require stockholders of the member institutions, who already have been obliged to take heavy stock market losses on their shares, to make good on the losses of creditors of an institution which is generally credited with having catered primarily to wealthy depositors and clients. Marriage Licenses Mike Andre. 23. of 338 West Maryland street, sawmaker. and Madonna Marie Young. 19. of 446 West Washington street, waitress. Paul Swan. 25, Sandborn. truck driver, and Evelyn Irene Page. 20. of 344 West Thirtieth street, maid. Robert McMorris. 37. of .*56 Darnell street plumber, and Rosemary Elizabeth Jarksfm. 24. of 1129 Maple street. Price E. Graves, 38. of 806 North Delaware street, truck driver, and Minnie A. Hendricks. 42. of 806 Delaware street, dressmaker. Matthew T. Conlev. 22. of 1501 Central avenue, theater employe, and Rosemary Wood. 19. of 1518 Leonard street. Births Bovs Marvin and Anna Johnson. 720 South Missouri. Otis and Gertrude Hendershott. 5208 South State. James and Sylvia McGlaughlin. 24 East Raymond. Frank and Lola Hamilton. 1024 South Illinois. Irvin and Mildred Edwards. 2429 South Meridian. John and Opal Davis. 1416 Bates. William and Idabelle Lime. 1334 East Market. Charles and Leah- McCullough, 1526 Hovt. Girl* Ti’rten and Rosamond Ratliff 1529 Cruft. Manard Rnd Lottie Wright. 705% South Meridian. Leo and Emma Magendanz. 210 National avenue. Deaths Clarice Click. 33. St. Vincent hospital, acute mastoiditis. Dotty Jean Baker. 8. Methodist hospital, broncho pneumonia Harry F. Moore. 62. Methodist hospital, carcinoma Joseph G. Halev. 79. 1427 North Delaware. lobar pneumonia Charlotte Marie Frazee. 7 months. 1229 Naomi, broncho pneumonia. Lawrence Gauck. 64. Cltv hospital, uremia. Marv Anderson. 60. 764 West Twentvflfth. mitral stenosis. Fred W Hillman. 69. Methodist hospital. myocarditis. Fire Reports Friday 6 33 a m.. 322 West Washington, store room, small loss. 7 32 am., 4209 West Morris, residence. small loss. 753 a. m.. 1350 West Twentv-eighth. residence, no less 932 a. m , 2519 Guilford, residence, small loss. 10 47 am., 1420 Fast Twentieth, machine shop, small loss. 12 14 p m., 1932 Ralston, residence. smajl loss. 22 p m.. 1443 North Pennsylvania, rubbish fire 3 39 p. m . 42 West Fortv-third. rubbish fire 4 24 p. m., 4815 Wmthrop. residence. small loss. 4 46 p. ra . 960 Locke, citv hospital, no loss. 5T2 p m . 1204 North Tibbs, residence. small loss. Saturday 423 a. m, 533 North Parker, garage. *2OO 428 a m.. Fif tv-fifth and Keystone, enic&en house, considerable loss. NEW YORK COFFFF FI TI RES —Anri! 14— •ANTOS High. Low. Close Marcfc . v ll tn julv 10.01 10.87 10.91 S“Dte-nbar 1! 22 11.15 11.22 Decembat 11 32 11 27 11 32 . RIO Jaruaf* 8.74 March 8 77 M* v 8.37 . 8.54 September 8 63 8 62 8 63 December ... 3.79

STOCKS DISPLAY STRONG TONE IN SHORT SESSION Few Preferred and Special Issues Up Sharply; Trading Light. Average Stock Prices Average of thirty industrials for Friday: I High 105.72. low 104 42, close 104 98. up ; .18 Average of twenty rails: 49.83, 49 49. ! 49.55, off .41 Average of twenty utilities: 1 26 SI, 25 09. 26 22. up .07. Average of forty bonds: 49.70. up .04. Average of ten first rails: 99 85. up .06. Average of ten second rails: 84 39. up .04 Average of ten industrials: 97.26. up .10. Average of ten utilities: 97.30. off .05. BY ELMER C. WALZER United Press Financial Editor NEW YORK. April 14 stocks advanced in light trading in today's short session. With few exceptions the main list was up fractions to a point near the close. Several >pe- - cial issues and preferred stocks gained as much as 16 points. Island Creek Coal preferred sold at 105. up 16 Milwaukee Electric j Railway preferred jumped 14 points i to 70 on a single transaction. Loose j Wiles preferred on an odd lot trans- 1 action sold 128. up x h and Hamilton; Watch preferred 45%, up 5%. .tynong the few issues to decline wefe Western Union which lost more than a point and a few of the rails which made fractional recessions. Utilities, Steels Gain Amusements were strong and ac- 1 tive as a group. Utilities made small gains as did steels. Motors held around the previous close* I Small advances were noted in American Can, American Telephone, Consolidated Gas, Chrysler, Du Pont, United States Steel, Woolworths Sears-Roebuck, and General Electric. • Liggett & Myers B rose a point to 93 :i i to feature the tobaccos. Mining issues were inconspicuous on the tape, but their prices held firm, notably the silver issues which had gains ranging to a point. Steel common picked up and other steels followed when the Youngstown operating rate was announced at an advance of 3 points for the beginning of next week. Bonds made a better showing than stocks. Prices rose for the twelfth consecutive day. Commodities Are Weak Successful conversion of part of the fourth Liberty 4% per cent loan to bonds bearing 3 ! * per cent in- I terest and calling of an additional I $1,200,000,000 of the issue for re- i demption Oct. 15 lent confidence ! and aided the market for govern- j ment bonds. Amusement bonds were | strong along with their*stocks. Commodities were mostly lower, j Grains eased fractionally; cotton' was down slightly; small losses were ! sustained by silver and rubber. The dollar moved fractionally in terms of foreign exchange. Stock sales tocLiy approximated 500,000 shares against 550,000 shares last Saturday. Curb sales were 153.C00 shares against 156,000 shares last Saturday. Dow Jones preliminary averages showed industrial. 105.04 up 0.06; railroad. 49.57. up 0.02; utility, 26.21, off 0.01. Bank Clearings INDIANAPOLIS STATEMENT —April 14— Clearings $ 2.093 000.00 • - 5 12L000.00 | Clearings for the week 11.363.000.00 Debits lor the week 27,637.000.00 treasury statement. By L iiited Pri xs WASHINGTON. April 14.—Government expenses and receipts of the current fiscal year to April 12, compared with the corresponding period of the previous fiscal year: This Year Last Year Expenses $5,143,406,278 31 $3,919,564 189.00 Receipts $2,403,918,791.87 51.579.473.759 82 j Deficit $2 739 487.486.1 t $2,340,090,429.1° ' Cash Bal 84.660.051.620.32 New York Curb <Bv Abbott. Hopnin & Cos. I —April 14— Close. Close. Allied Mills 9% Hud Bav Min 14% Am Cvanide B . 20 * Humble Oil 45% Am Gas & El 27 Imperial Oil Ltd 15 Am Superpower 3'* Int Petrol 26% Ass G & El I's Lake Shore Min 52-4 Atlas Coro 13% Lib McN Lib 7 Axton Fish Tob 62% Lone Star Gas . 6% Cen Marc . ... 2% Natl Bellas Hess 37 Cities Serv 2% Newmont Min . 56 Cord Corn . 6% Nia Hud Pwr . 6% Creole Petrol ll%Novadel Agene . 67% Crown Cork Inti 7 s * Park Davis 24% Deere & Cos 29% Penn Road . . 3% Distillers Corn . 21 i3t Regis Paper. 3% Dow Chem 81 Sherwin Wms . 66 El Bd & Shar 17'* Std of Ind 27'i Fisk Rubber 18' ■> Std of Kv 17 Fd of Can A . 23% Technicolor Ind 10 3 * Ford of Eur 7% Peek Hughes Gd 7’* Glen Alden Coal 17% Un Gas 3 Gulf Oil of Pa 66 7 * On Pw A- Lt A 3 3 Hiram Walker . 43% Wr Harg Min 10 Investment Trust Shares ißy Abbott. Hoppin & Cos.! —April 14 — Bid. Ask. American Bank Stocks Corp . 1.18 1.22 American A General Sec A 4 87 6.87 American A- Inv Tr Sh . 1.50 I Basic Industry Shares .... 3.59 3.67 ! British Type Inv Tr Sh ... .55 .60 I Collateral Trustee Shares A 4.90 5.00 ; Corporate Trust Shares iold 2.18 2.21 Corporate Trust Shares inewi 2.46 2.50 Cumulative Trust Shares . 412 4.25 Diversified Trust Shares A . 6.12 Diversified Trust Shares B . . 8.12 8.25 Diversified Trust Shares C ... 3.29 3.33 Diversified Trust Shares D . 4.87 5.00 First Insurance Stock Corp . 1.29 1.34 First Common Stock Corp ... 83 .86 Fixed Trust Oil Shares A ... 875 . . Fixed Trust Oil Shares B . 7.75 Incorporators Investments .. . 18.87 19.12 Land Bank Bond Shares 1.10 1.23 Low Priced Trust Shares .... 660 6.75 Mass Inv Trust Shares 19.59 21.29 Nation Wide Securities ... 3.50 3.55 ! North Am Trust Shares • S3>.. 1.90 1.95 No Am Trust Shares 155-56! . 2.48 2.51 North Am Trust Shares <5Bl . 255 2.60 Selected American Shares 2.70 Selected American Shares Inc 1.23 1.28 Selected Cumulative Shares .. 6.85 Selected Income Shares 3.50 4.00 Std Amrican Trust Shars A . 306 3.15 Trust Shars of Amrica 2.96 3.00 Trustee Std Oil A 5 75 5.85 Trustee Std Oil B 5.25 5.35 U S Electric Lt & Pwr A 12.50 12.87 Universal Trust Shares 3.17 3.23 New York Bank Stocks (By Abbott. Hoppin & Cos.) v April 14. Bid. Ask. Bankers . 65 65 3 4 Brooklyn Trust 98 100 Central Hanover 134% 135 3 4 Chase National 35', 30% Chemical 41 3 * 41% I National Citv 30 J * 30-% Corn Exchange 56 1 4 57 Continental 14 14% Empire 18% 19 First National 1670 1685 Guaranty 58% 60% Irving 18% 18 s * Manhatten A Cos 32% 32% j Manufacturers 22% 22% New York Trust 101% 102% Public 32% 33% Foreign Exchange IBv Abbott. Hoppin & Co.* —April 14— Close. Sterling. England $5.15% Franc. France 0660% Lira. Italy .. .0852 Belgias. Belgium 2340 Mark. Germany 3953 Guilder. Holland 6773 Peseta. Spain 1368% Krone. Norway 2592 j Krone. Denmark 2305 Yen. Japan 3040 NEW YORK RAW SUGAR FUTURES —April 14— High. Low. Close. January /.. . 1.61 March ... 1.65 May 1.41 July 1.48 1.47 1.48 September ...1 1.53 December .... ....

New York Stocks 1 Bt Abbott. Hoppin A Cos.)

—April 14— Oils— Amerada . . 50% 50% All Rfg 29 7 29% 29% 29% Barnsdall 9x 9% 9x 9% Consol Oil 12% 12% 12% 12-z Cent of Del . . 21% 21 21 21% Houston inewi. . 4% 5 Houston (old 1 . 26% 28% 26% . ■ Indian Rfg ... . . 3% Mid Cont Pet . . 13% 13% 13% 13% Ohio Oil 13% 13% 13% 13% Pet Corn 12% 12% 12% 12% Phillips Pet . . 20% 20 20 20% Plymouth 0i1... 12% 12% 12% 13% Pure Oil ... 12% 124. 12% 13 Rova! Dutch ... . 35% 35* Sbd Oil 37 36% 36% 37 Shell Un . 9% 9% Skellev Oil .... 10% 10% 10% 10% Soc Vac 16% 16% 16% 16% SO of Cal ... 37% 37% 37% 37% S O Os Kan ... . 38 37% S Oof N J 45% 45 45 3 * 4a% Sun Oil 61 % 60% Texas Corn . 27% 26% 27 26% Tidewater Assn . 13 12% 12% 12% Un Oil of Cal 18 Steels— Am Roll Mills . 24% 24% 24% 24% Beth Steel 43% 42% 43% 42% B.'crs A M 27% 27% 21% 27% Col Fuel A Iron .. ... 6% 6V* Inland Steel 46 McKeecoort Tin 90 Mid Steel 17% 17% Natl Steel . . 48% Otis Steel 6% 6% 6% 6% Rep Ir A Steel 22% 21% 22 21% Reo Ir A Stl pfd 61 Vi 61% U Pipe A Fdy . 28% 28% 28% 28% U S Steel ... 52% 52 62% 52 U S Steel pfd 96% 96% Warren Bros . 10% 10% Youngs'n SAT 28% 28 28% 27% Motors— Auburn 52 51% 52 51% Chrysler 54 53% 54 53 * Gen Motors 38% 38 38% 38% Gen Motors pfd 100 99% 99% 99% Graham Mot. ... 4 3% 4 3% Hudson 20% 20% 20% 20% Hupp 5% 5% 5 5% Nash 24% 24% 24% 24% Packard 5% 5 5 5% Reo 4% 4 4% 4 Studebaker ... 7% 7% 7% 7% Yellow Truck 5% 5% Motors Access— Bendix 19 18% 18% 18% Bohn Alum 19 18% 18% 18% Bohn Alum ... . 63 Borg Warner ... 25'/ 24% Briggs 16% z 16% Budd Wheel 3% 3% Eaton Mfg -... 20% 20% 20% 20% Elec Auto Lite . 27% 27% 27'% 27% Houdaille A . . . 5% Mullins Mfg 14% 14% Mullins Mfg pfd • . . 34% 35% Murray Body ... 9% 9% 9% 9'% Stew Warner ... 9% 9 9 9 Timken Roll 35% 35% 35% 35 Timken Det Axel 7% 7% 7% 7% Mining— Alaska Jun 21% 21 21 21 Am Metals 25% 25% 25% 25% Am Smelt 45% 44'% 45 45 Anaconda 17 15% 16% 16% Cal A Hecla .... 5 5% Cerro de Pasco . 38% 37% 38 37 Dome Mines .. 38% 38% 38% 38% Granby 12% 11% Gt Nor Ore .... 14 14 Howe Sound .. 53% 52% 53% 53 Ins Copper . . 5% Int Nickel 28 27% 28 . 27% Int Silver .40 39% 40 39 Kennecott Cop . 21% 21% 21% 21% Mclntyre Mine . 48% 48 48% 47% Noranda Cop ... . 43% 43% Park Utah 5% s''* 5% 5% Phelps Dodge .. 17% 17% 17% 17% St Joe Lead ... 23% 23% 23% 23% U S Smelters . 127 125 177 125% Vanadium 26% 27 Amusements— Croslev Radio .. 15 14% 15 15 Fox Thea 15 s * 15% 15 s * 15% Loews Inc 34% 34% 34% 34% Radio Corp 3% 3% 3% 3% Warner Bros .. 7% 7%, 7% 7% Tobaccos— Am Snuff ... 56 55% 55% 56 Am Sum Tob 18% . Am Tob “A'’ . . . 71 Am Tob ”8”... 73% 72% 72% 73% Gen Cigars . . 35% Lig A Myers ’B' 93% 92% 93 92% Lorillard 17% 17% Reynolds Tob B' 43 42% 42% 42% Rails— Atchison 68% 68% 68% 68% B&O 29% 29% Can Pac 16% 16% 16% 16% Ch A Ohio .. 46% 46% 46% 47 Chi A Gt W 4% Chi A Gt W pfd 11 C M A St P pfd 11 11% Chi N W 13% 13% Dela A Hud .. 65% 65% Del Lac A W . 28% 28% 28% 28% Erie ....... 22% 22 22% 22% Erie Dfd ... . 27 Grt Northrn pfd .. ... 28% 28% 111 Central 32 32% K C Sou 16% 16% Lehigh Valley 19 Lou A Nash ~. 60% 6014 M K A T 11% Mo Pac • . . • 4% .. Mo Pac Pfd ... 7% 7% 7% 7% N Y Cent 36 35% 36 36 N Y Ch A S St L 23 N Y Ch A S L pf . 32% 33% N Y New Haven 19 18% 19 18% N Y ont A West 9% 9% Norfolk A Wes 180 179% 180 179 Nor Pac 341* 33% 33% 33% Penn R R 35% 351* 35% 35% Sou Pac 28% 28 28% 28% Sou R R ... 32% 32% 32% 32% Sou R R pfd 38 38% Union Pac „. .. . • 130-'* Wabash . 4 3% 4 West Maryland 15% 15% 15% 15% F.quipments— Allis Chalmers 19% 15% 19% 19% Am Brake Shoe 32 32% Am C A Fdv pfd 53% Am Loco • 3372 Am Loco pfd • 79 Am Mach A Fdv 17% 17 17 17 Ant Steel Fdy • ■ 21 21% Bald Loco .14% 14 14 14% Eald Loco Dfd . 61% 61 61 •• Burroughs 1518 15% 15'* 15% Case J I • 71V2 Cater Tract ... 32 Deere ACo • 29% 29% 29% 29% Foster Wheeler 1914 Gen Am Tk Car A 40% 41 Gen Elec 22% 22% 22% 22% Gen R R Sig .. 42 41% 41% 42 % Ingsol Rand 64% Int Bus Mach .. 142% Int Harvester ..42 41% 41% 42% Natl Cash Reg 19 19% Pullman Inc ... 57 56% Rem Rand 12% 12% 12% 12% West Air B . . 32% 32 32% 32% Westingh Elec . . . 33% Worthington Pm .. - • 26% Utilities— Am A For Pwr 10% 10% 10% 10% Am Power A Lit 9% 9 9 9 A T A T 120% 120 12(1% 170'* Am Wat Wks 21% 20% 21 20% ! Col Gas A Elec 15% 15% 15% 15 s * Com A Sou 3 2 1 * 33 Consol Gas 38% 37% 38 38 Elec Pwr A Lit 7% 7% 7% 7% EP A L pfd 1%66 16% 1% 16% Int Hydro Elec . 7% 7- ! * Int TAT 14% 14% 14 7 * 14% Lou GAEA.. . 18 17% Nat Pwr A Lit . 12 11% 12 11% North Amer .... 19% 19% 19% 19% Pac G A E 19% 19% 19% 19% Peoples Gas .... ... 38% 38% Postal Tel pfd.. . . 24% Pub Serv NJ .. 38% 37% 37 s * 38 Sol Cal Edison . 19% 19% 19% 19% Std Gas 13% 12% 13 13% Std Gas pfd 14 13% 13% 13% Stone A Webster . . 9 s * 9% United Corp ... 6% 6% 6% 6'* Un Gas Imp ... 16% 16% 16% 16% Ut Pwr A Lit A 3% 3 3% s *3% 4 Western Union 56 55 55% 56% Rubbers— Firestone 22% Goodrich . 16% 16% Goodyear 36% 36% 36% 36% I Kelly Spring .. 3% 3% 1 U S Rubber 20% 20% 20% 2<J% IU S Rubber pfd 49% 49% 49% 49% Miscellaneous—j Am Bank Note 19% iAm Can ... 104% 1(M i Anchor Cap .. ... 21% Brklyn Man Tr 31 30% Conti Can -. 81% 82 Crown Cork ... 30% Curtis Pub 28 27% 27% 28'. Curtis Pub pfd 80% 80 80 81% Eastman Kodak . 92 91 Gillette 10% 10% j Glidden 27% 27 27% 27 Inter Rapid Tr . . 9 8% Owens Bottle ... ... 88 88% Raybestos Mfg ... ••• 21 Foods— Am Sugar . ■ 53 53% Armour A 7% 7*2 7% 7■'* Borden Prod . 23% 22% 23 22% Cal Packing 29 28% 29 28% Canada Dry G A 26% Coca Cola ... 119% 119 119% 119% ! Cont Bak A ! Corn Prod . 77% 77 77% 77% Cim of Wheat . 32% 32% 32% 32% Cuban Am Sug . . . 7% Gen Foods 34% 34% 34% 34% Gold Dust 21% 21% 21% 21% G W Sugar 30 30% Int Salt 29 29% Loose Wiles ... 42% Natl Biscuit .... 44% 43 s * 43% 44% Natl D Prod .... 16 15’* 16 16 Puritv Bak . . 16% S Por Rico Sug 33 32% 32% 34% Spencer Keilog . • 24% Std Brands . . . 21 s * 21% 21% 21% Un Biscuit 26% 26% United Fruit 70% 70 70V* 70% Wrigley 62 61% 62 61's Retail Stores—--1 Ass Drv Goods - 17*4 16 7 s 17^8 ! Best A Cos. 33% 33% First Natl Stores 65 65% Gimbel Bros 5 5% Gimbel pfd ~ 27 Gr Un Tea . ■ 7% 7% i Hahn Dept Sts 7% 7% 7% 7% Jewel Tea 43% 48% ! Kresge S S 20% 20% 20% 20% ’ Kroger Groc 32 31% I Macv R H 49% 49 49% 49% Marshall Fields 19 18% 19 19% May Dept St *3 Mont Ward 31% 31% 31% 31% Natl Tea 16 s * 16% Pennv J C ■ ... 67% 67% Safewav St 54 54 % Sears Roebuck 50 49 s * 49% 49% Woolworth • 53% 52% 52% 52% Aviation— Aviation Corp . 9 8% 8% 9 Curtiss Wright 4% 4% 4% 4% Curtiss Wght 'A' 11% 11 11% 11 Douglas Air .. 24% 24 24% 24% Nor Am Av ... 6 6 Speerv Corp . 10% 10 s # 10 s * 10% United Aircraft 23% 22% 23 23% Wright Aero .. 57% 57% 57% 57% Chemicals— Allied Chem 150 150% Am Com Ales .... ... 49% 50% Col Carbon 69% Com Solvents . . 29% 29 29% 29% Dupont 97 s * 97 97 s * 97 Freeport Tex ... 45% 45% 45% 45% Liquid Carb ...... 29% Math Alkali ... 36 36 Montosonta Ch 93% Nat! Dis inewi 30% 30 30% 30% Scheneiev Dist . 36 s * 36% 36% 36 * Tex Gulf Sulph 36% 37 Union Carbide 45% 45 45% 45 U S Indu Alcohol . 52 s * 53% Virg Ch S', pfd 20% Drugs— Cotv lnc 7% 7% Lambert .... 27 26% 26% 27% Lebn A Fink ... < 20 Un Druo 16% 16 16% 16% Zotute Prod .... 7% 7% 7% 7%

THE INDIANAPOLIS TIMES

Financial— Adams Exp ... 9 s * 9% Allegheny Corp . 3 s * 3% 3% 3% Am Int Corp ... .. .. Bs*8 s * Chesa Corp 46 s * 46% 46% 46% Lehman Corp .... .. .. 73 Transamerica ... 7% 6% 6% 7 Tr Conti Corp . 5% 5% 5% 5% Building— Am Radiator... 16 15 s * 15% 15' Gen Asphait 19 s * 19-% Int Cement .. .. . . 30 Johns Manville. 58 s * 57 s * 58 58% Li by Owens Gls 37% 37 37 37% Otis Kiev 1,5% TTlen Const 3% ••• Household— Col Pal Peet 17% 17% 17% 17 s * Congoleum 27 s * 27 s * Kelvinator 19% 19 > 2 Mohawk (Carpet 19% 19 19% 19% Proc A Gamble 36 35% 36 35% Simmons Bed ... 20% 20% 20% 20 s * Textiles— Amer Woolen ... 15 15% Beiding Hem .. 14% 14% 14% 14% Celanese Corp . 37 s * 37% 37% 37% Collins Aikman.. 23% 23 23 23% Gotham Hose ... 10% 10 10 10% Indus Ravan ... 89V* 87% 87% 89% Ka.vser Julius 17%

Chicago Stocks " By Abbott. Hoppin & Cos. ■

—April 14— TOTAL SALES. 18.000 SHARES High. Low. Close. Acme Steel Cos 40 39% 40 Advance Aluminum ... 3% Am Pub Serv pfd .. 7% Asbestos Mfg 3% 3% 3% Berghoff 8% Bendix Aviation 19 Borg-Warner 25 Butler Bros ... 12 12% 12 Cent 111 Pub Serv pfd.. . 17 Chi A Northwestern .. 13% 13% 13% Chicago Corp com .. 2% 2% 2% Chicago Elec Mfg (A!.. . .. 8% Chicago Yellow Cab ... 11% 11% 11% Cities Service 2 s * 2% 2% Coleman Lamp AS .. 15 Cord C'orp 6% 6% 6% Fitzsimmons A Connell. . .. 16 Gen Household Ut 15% 15% 15% Godchaux B .. . 8% Goldblatt Bros. 18'/2 18% 18% Great Lakes Dredge... 20 19% 20 Houdaille-Hershey B . 5% 5% 5% Iron Fireman ... 12% Katz Drug ... 36 Keystone Steel pfd..' ... 75 Kingsbury .. 7% Libby-McNeil 7% 6% 7 Lynch Corp 32% Marshall Field 19 Material Service ... 4% McGraw Electric 9Vi 9 9% Merchants A Mfg A ... 3% Mickelberry's Food Prod .. ... 1% Middle West Util ... % Mid Util 6% A pfd 1 Mid Util 7Vr A pfd 1 Nob-Sparks Ind, Inc 14% N Amer Light A Pow 2% Potter Cos 7% Prima Cos 9% Public Service N P . . ... 18 Raytheon V T C ... 3V* 33 V*. Reliance Mfg Cos .. 17% Swift ACo 18 17% 17% Swift Internacional 29 Vi Thompson JR 8% Vortex Cud Cos 10% Walereen Cos com ... 26% Zenith Radio 3%

Bond Prices

(By Fenner & Beane.) —April 14High. Low. Close. Alleg Corp 5s 'SO . . 44 43% 43% Am&For Pwr 5s 2030 . 56 55% 55% AT&T db 5s '65 107 106% 106% Atchison gen 4s ’95 ... 102 101*2 101% B&O cv 4%s ’6O 72% 72 72% Beth Steel 5s A ’36 102% Brazil 6% s (26i '57... 27% Can Pac 4s 79% 79% 79*2 ChMStP&P adj 55A2000 19% 18% 18% ChMStP&PrfssA’7s . 56 55% 55% Cons Gas NY 4%s ’sl 103% 11/J*/ 4 103*. Det Ed 5s E '52 105*2 Erie RR rs 5s ’67 78 77% 78 Goodyear 5s ’57 .99% 99% 99% Gt Nor 7s A ’36 99** 99** 99’* Interboro RT 5s '66... 71% 71'* 71% Int T&T db 5s ’55 68% 67% 67% McKess & Robb 5%s ’SO 83% 83 83 Nat Dairy db 5%s '4B 94 93% 94 NY Cent 4%s O 2013 .. 81 80*2 80% Nor Am 5s ’6l 90% 89% 90% Pac Gas&El 5s A ’42 .. . 106 Para Pub 5%s 'SO ... 55 54% 55 Penn RR 4’is D '81... 96% 96 96 Poland 7s ’47 97% 97% 97% Royal Dutch 4s A '45., .. ... 139% Shell Un Oil 5s ’47 99% Texas Corp 5s ’44 ... 102% 102’* 102'* Tob Pr NJ 6%s 2022... 107 106 s * 107 Un Pac Ist 4s ’47 ... 105 104% 105 US Rubber 5s A ’47 .. v 89 87% 87% Vanadium 5s ’4l • .... 84% 84 84% Western Un 5s ’sl • .. ... 93% Ygstwn S&T 5s B’7o .. ... 87% Federal Farm Loan Bonds (By Blyth & Cos., Inc.) # • —April 14— Bid. Ask. 4s Nov. 1. 1957-37 99% 100% 4s Mav 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, 1957-37 100 001 4'is Nov. 1 1958-38 100 101 4%s May I,' 1942-32 100 101 4%s Jan. 1, 1943-33 100 101 4%s Jan. 1 1953-33 100 101 4'/is July I,' 1953-33 100 101 4%s Jari. 1, 1955-35 100 101 4’/is Julv 1, 1955-35 100 101 4%s Jari. 1 1956-36 100 101 4%s July i; 1953-33 100% 101% 4%s Jan. 1, 1954-34 100% 101'/* 4%s July 1, 1954-34. 100% 101% 5s Mav 1 1941-31 101% 102% 5s Nov. 1, 1941-31 101% 102% Home Loan 4s, July 1. 1951.. 100% 101 Fedpral Farm Mortgage Corporation 4’*s March 15 1964-44 101 101% On Commission Row —April 14 — Fruits Apples—New York Baldwins, fancy. $1.65 up: fancy Staymans. $2.25; fancy Winesaps, $2.50. Oranges—California Sunkist, $3.25(5.3.75; Floridas, s3® 3.75. Lemons—Sunkist. $5.50. Grapefruit—Arizona seedless, 645-70s, $3 ®3.25; Florida, $3.25(53.50. Strawberries—Louisiana. 24-pt. crate, $3. Melons—Argentina Honeydews, $2.25. Pears—Calavos, $3.50 per box. Bananas—Per pound. 5 cents. Vegetables Cabbage—New Texas. $1.35 per halfcrate: Florida red, S3 per hamper. Celery—Florida. $2.85 a crate; mammoth bunch, 85c; medium bunch. 45c: hearts, dozen bunch. $1.35. Onions—lndiana yellow, 50-lb. bag. $1.25; red. $1.15: Idaho. Spanish. $1.35. Potatoes—Northern round white. 100-lb. bag. $1.90; Red River Ohios. $2.10: Maine Green Mountain. $2.40: Colorado McClures, $2.15: Idaho Russets. $2.15: Wyoming Triumphs. 50-lb. bag, $1.15; New Texas Triumphs. $1.90. Sweet Potatoes—lndiana Jerseys, per bushel. $2; Porto Ricans. $1.90. Asparagus—California select, crate. $2.25 @3.50. % 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: bulk old. $1.75. Cauliflower—California. $2.50. Cucumbers—Hot house, per dozen. sl.lO. Lettuce—Hot house. 10-lb. basket, 70c; Iceberg best. [email protected] a crate. Peas—2 B-lb. hamper. $2.25. Radishes —Hot house buttons, 60c a dozen. Rhubarb—California, 20-lb. box. $1.75. Spinach—New Texas. sl.lO per busne,. Tomatoes Repacked. 10-lb. carton $1.50; selected, cellophane wrapped. $1.75; original Mexican. 30-lb. lug. $3.50. Produce Markets Delivered in Indianapolis Prices —Hens, lie, Leghorn hens, Bc. Leghorn spring-er-stags, 6c; large 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 ibs., 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. Bt United Press CHICAGO. April 14.—Eggs—Market, firm, receipts 33.595 cases, extra firsts 16 %c. fresh graded firsts, 16c. current receipts 15%c. dirties 14c. checks. 13%c. Butter —MarkfT firm, receipts 9.332 tubs, extra firsts (90-91% scorei. 22®22%c, firsts <BB- - scorei. 21%@21%c: seconds 186-87% score). 21c: extra (92 score) 22%c. specials 23®23%c: standards 22%c. Poultry—Market steady, receipts 5 trucks 1 car due. heavy hens 14c: ducks. l8c; old roosters. 9%c. springs (colored and White Rocks, over 3 lbs i. 25c. geese Bc. broilers. 24 h 25c. capons 22c. fryers 25c: turkeys. 20c. Cheese—Twins. 12®12%c: Longhorns 12% @l2 s *c: daisies. 12%® 12 s * c. PotatoesOld stock supply liberal: demand and trading slow; market about steady: Idaho Russets 1 car $1.62%; 5 cars $1.65. 3 cars $1.67%: Washington Russets combination grade 2 cars $1.45: Colorado McClures 2 cars $1.65. 2 cars $1.70. 1 car poor color. $1.50; Minnesota Red River Ohios 1 car $1.45. U. S. No. 2, $1.10; Nebraska Triumphs 2 cars $1.45. New Stock—Supply light: demand and trading moderate; market strongy: Texas 50-lb. sacks Bliss Triumphs 2 cars. $1.75. Shipments 808. arrivals 113. on track 336. NEW YORK. April 14.-Potatoes-steady; Long Island. $1.10®2.20 bbi.: southern. $3.505 6 bb!.: Maine. sl® 3-75 bbl.; Idaho. s2® 2.25 sack: Bermuda. s4® 4.50 bbl.; Canada, [email protected] bbi Sweet Potatoes—Steady; Jersey, bskt. 50c%51.75: southern, bskt .. 90c® $1.65. Flour—Dull* springs, patents. $6.15® 640 bbl. Pork — Quiet; mess. S2O 25 bbl Lard—Easy; middle west spot. $4.50 \ 4.60 per. 100 ibs. Dressed poultry—Quiet: turkeys, 18®25'.c: chickens. 9® 29c; broilers. 18® 29c; capons. 20® 32c; fowls. 14® 19c: Long Island ducks, 15%®17c. Live poultry—Firm; geese. 7® 9c: turkeys, 18® 22c; roosters. 10c; ducks, B@l2e; fowls. 17® 18c: chickens. 10 @ 12c; capons. 22c: broilers, 13@25c. Cheese —Dull: state whole milk fancy to specials, la&isc.

SWINE MARKET ENDS WEEK AT STEADTPRICES Veals Weak to 50 Cents Lower; Cattle, Lambs Unchanged. Only slight action was displayed j in hog trading at the Union Stock- | yards this morning, with practical- j ly all prices ending the week around i steady at the previous close. Receipts were extremely light as usual for a week-end session and several buyers inactive. Bulk of 160 to 300 pounds, sold at $4.10. Few choice grades were reported salable up to $4.15. Initial sales on light slaughter pigs weighing from 130 to 160 pounds ranged at $3.25 to $3.75, while other kinds scaling 100 to 130 pounds, brought $2.25 to $3. Receipts were estimated at 2,500. Holdovers, 340. Early trading in the cattle market was scarce and unchanged at yesterday's average, with no sales evident. Receipts numbered 50. Vealers held stationary to around 50 cents lower, selling at $0.50 down. Receipts were 150. Usual Saturday cleanup trade prevailed in the lamb market. One load of wooled grades sold at $9.35. while shorn classes were salable at $7.75. Receipts were 500. Prices on hogs at Chicago continued steady with yesterday’s average. Occasional sales on heavies and plain lightweights held at $4.90 down. Odd packing sows were selling at $3.15 to $3.25. Receipts were estimated at 10,000, including 9,500 directs; holdovers. 2,000. Cattle receipts were 400; calves, 400; market steady to lower. Sheep receipts numbered 7,000; market steady to higher. HOGS April Bulk. Top. Receipts. I 9. 53.850. 4.00 54.05 9 000 10. 3.75® 4.00 4.00 7.000 12. 4.00 • 4.00 7.000 11. 4.00 4.15 6 000 12. 4.00® 4.10 4.15 5.000 13. 4.10 4 20 7.000 14. 4.10 4.15 2,500 Market Steady (140-160) Good and choice .. $ 3.50@ 3.75 —Light Weights—-(l6o-180) Good and choice.. 4.10 (180-200 Good and choice .. 4.10 —Medium Weights—-(2oo-220) Good and choice.. 4.10® 4.15 (220-250) Good and choice . . 4.10® 4.15 —Heavy Weights—-(2so-290! Good and choice .. 4.10® 4.15 (290-350) Good and choice .. 3.90® 4.10 —Packing Sows—(3so down! Good 3.25® 3.50 (250 up! Good 3.10®) 3.35 (All W'eightS) Medium 3.00@ 3.25 —Slaughter Pigs—-(loo-130) Good and choice .. 2.25® 3.00 CATTLE Receipts, 50; market, steady. (1.050-1,100) Good and choice $ 6.50® 7.50 Comiflon 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 Reeeipls. 150; market, lower. 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 Stocxer 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, 500; market, steady, shorn basis (90 lbs. down) Good A choice $ 7.00® 7.75 (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 14.—Hogs—Receipts. 10.000: including 9.500 directs: market, nominally steady: occasional sales heavies and plain lightweights. $3.90 down, about m line with late Friday: odd packing sows. 53.15®3.35: shippers took 200: holdovers. 2,000. Cattle—Receipts. 400: calves. 400: comparpd last Friday medium and weighty steers. 50c or more higher in active, almost runawav market: 1 300-10. kinds topped at $7.75, anew high in sixteen months: '533 lb. averages. $7.65 at close: yearlings and light steers strong to 25c higher on all grades: few long yearlings above $7.50: 1,163-lb. averages. $7.75: heifer vearlings generally 25c higher: all heavy heifers. 25 to 40c up: cows, fully 25c higher, instances more: cutter cows. 15 to 25c higher: little change in bulls and vealers: Stockers and feeders more active, strong to 25c up: thin kinds. $4.75 down: fat kinds, $5.25® 6. Sheep—Receipts. 7.000: for week ended Friday 29 doubles from feeding stations: 6.100 directs: compared with Friday last w<eek fed wool lambs, steady to 15c higher: clipped lambs. 25 to 35c higher: sheen steady to W'eak: light weight native soring lambs. S3®s higher: week’s top wool lambs. $9.50. bulk SP.25® 9.35: clipped lambs. $7.25®7.75; bulk. $7.40® 7.65: native springers. s7® 10.50: according to aualit.v and weight: desirable wool ewes. $4.75®5; clipped ewes. 53®3.50. largely. FT. WAYNE. April 14—Hogs—15c higher: 250-300 lbs.. $4 10: 200-250 lbs.. $4: 180200 lbs.. $3.95: 160-180 lbs., $3.90; 300-350 lbs.. 53.75; 150-160 lbs.. $3.50: 140-150 lbs.. $3.25: 130-140 lbs.. $3: 120-130 lbs., $2.50; 100-120 lbs.. $2.15: roughs. $2.75: stags. 51.50. Calves, $6.50: lambs. $9 down. LAFAYETTE. April 14.—Hogs—Market, steady; 200-325 lbs., $3.70® 3.95: 160-200 lbs.. $3.75® 3.85: 140-160 lbs.. $3.25® 3.50; 125-140 lbs.. $2.75® 3: 100-125 lbs.. s2® 2.50: roughs. $3 down; top calves, $5.50; ! top lambs, SB. Bn Times Special LOUISVILLE. April 14.—Cattle—Receipts. 75: market nominal: compared wuth close last week, fully steady to strong with sausage bulls mostly 25c higher: closing bulk common to medium steers and heifers. s4® 5: better finished fed kinds. $5.25®5.75: strictly good baby beef type yearlings. $6: bulk beef cows. $2.50® 3.50; smooth heifer types, $3.75 and above: low cutters and cutters. $1.25®2.25: bulk sausage bulls. $3.2ir®3.75; common to medium grade native Stockers and feeders. s3® 4; well bred light Hereford and Shorthorn Stockers, mostly ss® 5.25. Calves —Receipts, 350; market steady: bulk better vealers. $4.50® 5; strictly choice. $5.50: medium and low : er grades. $3.50 down; market fully steady to strong as compared with last Saturday. Hogs—Receipts. 325; market, 10c higher: 170-240 lbs.. $4.10: 245-270 lbs.. $3.75; 275 lbs. up. $3.40; 145 165 lbs.. $3.25: 120-140 lbs.. $1.90: sows. $2.15; market, closing mostly 5 cents lower than last Saturday. Sheep, none: market compared week ago mostly steady: bulk medium to good wooled lambs. s7® 8: choice, quotable higher: common light throw-outs. $5: bulk fat w’ooled ewes. $2.50 ®3: closing bulk better spring lambs, $lO 611. NORTHERN STATES CO. APPOINTS NEW HEAD W. F. Hall to Manage Mortgage Loan Department. By Time* Special FT. WAYNE. April 14.—William B. F. Hall of the investment department of the Lincoln National Life Insurance Company, has been selected as manager of the Northern States Mortgage Loan department to be established at Hammond. May 1, the Lincoln National announced yesterday. Purpose of the new department is to liquidate and conserve the assets of the former Northern States Insurance Company of Hammond whose business the Lincoln National reinsured in 1933. Mr. Hall, who will act as administrator for the trusteed assets set up as a separate fund, will co-operate with John W. Morthland, trustee, appointed by court to represent the interests of the Northern States policyholders.

American Stockholders Own 225 Corporations, Business Sui’vey Shows

General Motors Shares Are Registered in 351,761 Various Names. By Times Sprriol NEW YORK, April 14 —Present ownership of 225 American corporations rests with more than 10,275.000 shareholders of record, according to an investment survey made by Frazier. Jelke & Cos. Eliminating duplications, there probably are as many individual owners of stocks in the United States as there are residents in Canada, the survey stated. General Motors shares are registered in 351.761 names, equivalent to almost a quarter of the population of Detroit. Radio Corporation has 287,813 stockholders; United States Steel, 251.025; Pennsylvania railroad, 238.876, and Transamerica, 222,590. Twenty-five corporations for which statistics are available report stockholders’ lists in excess of 100,000 names. Including owners of banks, building and loan associations and local enterprises, it is estimated that, without clinminating duplications, there are about 26.000.000 stockholders of record in the United States. Careful studies have indicated that between 10.00.000 and 11,000.000 individual men and women maintain ownership in one or more stock issues. This means that every tenth or eleventh man, woman and child

TAX COLLECTIONS IN U,S. COST $1,290,751 Administration Spends Huge Sum for Supplies. By Times Special WASHINGTON. April 14. Administrative expenses for collection of more than $216,000,000 processing and floor stock taxes through Feb. 28, totaled $1.90.751, a report of the Bureau of Internal Revenue to the agricultural adjustment administration shows. Administrative costs were less than 60 ceim on each SIOO collected. The figure which represents the administrative costs included sllO,622 expended for supplies and equipment Expenditures for office machines and devices totaled $99,22.9; for furniture and fixtures. sll.3£2. These two items comprised about 9 per cent of the total administrative cost. In the bureau at Washington, 197 employes were engaged on processing tax work as of March 31. In the field service, 511 permanent and 960 temporary employes were engaged in this work as of Feb. 28. The disbursements cover a period of eight months in the case of field service salaries. For other allotments the period varies from seven to seven and a half months. BUSINESS CORPORATION WINS SAFETY TROPHY Bronze Plaque Awarded in Accident Prevention Campaign. By le* Special ENDICOTT, N. Y„ April 14.—The International Business Machines Corporation recently was awarded a bronze trophy by the Associated Industries of New York State, Inc., for winning the Ninth Annual State-Wide Accident Prevention Campaign, sponsored by the Binghamton Chamber of Commerce. Approximately 3.300 employes of the company at its main plant here co-cperated in the completion of 1.480.351 hours of industrial work without a single accident. The plaque, presented by J. L. Gregory, president of the Binghamton Chamber of Commerce, to F. C. Venner, resident manager of the plant, will be displayed in the office of the company here. DIVIDEND IS DECLARED Continental Can Places Shares on $3 Annual Basis. By Times Special NEW YORK. April 14.—Directors of Continental Can Company, Inc., declared a quarterly dividend of 75 cents a share on the common stock, payable May 15 to holders of record April 25, thereby placing the shares on a $3 annual dividend basis. In October, 1933, the driectors restored the dividend to the rate in effect prior to August. 1932. by increasing the annual dividend from $2 to $2.50 a share. The steady improvement in the company’s 1/usiness which started in April of last year continued during the first quarter of 1934. with sales 20 per cent above those of the same period in 1933, according to the company. CAR FIRM SETS RECORD Graham-Paige Single rfay’s Order Highest Since 1930. By Times Special DETROIT, Mich., April 14. —For the second time since the new Graham cars for 1934 were announced, anew record for a single day’s order has been broken at the Graham-Paige Motors Corporation plant, A. I. Philp, vice-president and general sales manager, announced today. Mr. Philp also revealed that the Graham manufacturing schedule has been increased during April, for the fourth* consecutive time since the new product Vent on the market. Orders received for the new cars on Monday, Mr. Philp said, set a new high record since 1930, surpassing the previous 1934 mark set during January. Lawyer to Address Lions Speaker at the Lion’s Club meeting Wednesday noon in the Washington will be Carl A. Wilde, attorney. whose subject will be “The Lawyer on the stage of History.” Riley Corps Meets Tuesday Major Robert Anderson Woman's Relief Corps will meet at Ft. Friendly, 512 North Illinois street, at 1:30 Tuesday. Mrs. Evelyn Kosaveach will preside.

in the United States, or about one family out of three, is interested in the efficient functioning of the securities markets. Several companies have more stockholders than employes. The Bell System, including Western Electric and the Bell Telephone laboratories, at the end of 1933. had 270.000 employes against 680.939 stockholders. Tabulation shows that thirty-six published stockholders' lists totaled 3.932.797 names in 1933. compared with 1.573,794 in 1928. an increase of 150 per cent during the five years.

CAR PRODUCTION AT HIGH MARK Sales Are Best in 4 Years; White Cos. Announces Price Increase. Improvement in general conditions has brought about the best motor car business in four years, according to reports of several leading producers. Chevrolet retail deliveries during March totaled 97.194 units, the largest monthly total since March of 1930, William E. Holler, general sales manager stated recently. In March of 1933 only 41,093 units were produced.*Mr. Holler stated. Total deliveries of the firm in the first quarter of this year amounted to 177.271 units, against 124,674 units in the like period of last year. Retail deliveries of Chevrolet commercial cars and trucks in March totaled 25.974 units. Total for the first quarter was 59.312. First quarter sales more than doubled those of the first 1933 quarter. Chrysler Motor Car Company also has announced a large increase in production of Chrysler and Plymouth cars, setting anew high for ■the year. Production in the week ended April 7 was 11.8 per cent above the previous week and 176.7 per cent above the like 1933 weeks. Hudson and Terraplane cars are reported being produced at a higher rate of speed than at any time since early in 1930. The White Motor Company announced it will increase the price of its light duty truck slightly more than 9 per cent, effective Monday.

Bright Spots

(By Abbott. Hoppin & Cos.) Minneapolis Honeywell Company declare a dividend of 50 cents a share on the common stock. New York Central Railroad Company February net loss totaled SI. 1X8,9k!) after all charges against $2,150,319 in February, 1933. Loss, in the first two months of the current year totaled $2,548,33% against $3,375,811 in the like 1933 period. California Packing Company declares a dividend of 37% cents a share on the common stock. Tobacco Securities Trust Company declares an interim dividend of 56 cents a share less tax. Net inrome of the United States and International Securities Corporation in the quarter ended March 31 amounted to $48,685 after taking into account a net realized loss of SI 13.437 on investments, taxes and other expenses. Net assets of the company on March 31 totaled approximately $24,666,(88) or $lO3 a share on the preferred stock, against $21,916,000 on Dec. 31, equivalent to SB7 a preferred share. New York Airbrake Company in the quarter ended Karch 31 had a net loss of slls 567 after taxes and other charges against $125,835 in the first quarter of 1933. Pittsburgh and Lake Erie Company in the first two months of this year earned 33 cents a share acrainst 14 cents a share in the like 1933 period. United Slates and Foreign Securities Corporation in first quarter of this year had a net income of $185,473 after taking into aeeount a net realized toss on investments of $59,562. .taxes and other expenses. Assets of the company on March 31 were approximately $28,871,000, equivalent to 5137 a share on the first preferred stock and to 51.91 a share on the common stock. Net assets as of Dee. 31 were $26,038,0(8). equivalent to $123 a share on the preferred stock. Stocks of domestic and foreign crude petroleum on April 7 totaled $341,966,000 barrels against 341 363,000 barrels a week ago. Brokers loans in the week ended April 11 increased $47,000,000 to $1,002,000,000. Non-brokers loans fell off $8,000,000.

In the Cotton Markets —April 14— CHICAGO . High. Low Close. January 1285 12.23 12 33 March 12 45 .2 43 12 43 May 11.97 11.93 11.94 July 12.09 12.02 12.07 October 12.20 12.14 12.13 December . . 12.29 12 25 12.29 NEW YORK January 12.29 12.21 12.28 March 12.38 12.31 12.38 May 16.88 11.81 11.87 July 12.00 11 92 11.97 i October 12 12 12.04 12.10 I December .. 12.23 12.16 12.23 NEW ORLEANS 1 January 12.28 12.23 12.23 : March May 11.91 11.85 11.90 July 11.99 11.92 11.97 October 12 13 12 04 12.12 December 12.24 12.15 12.22 CHICAGO FRUIT MARKET By United Press CHICAGO. April 14.—Apples—Michigan Baldwins. $1.50 bushel. Carrots—lllinois. 50c bushel. Spinach—Texas. 75c® 1.35 bushel. Beans—Southern green. s2® 3, wax. 3. Cucumbers—Central western hoti house. s2® 2.50; 2 dozen to box. Tomatoes —Florida, $1.50® 2.75. lug box Sweet Potatoes—Tennessee, $1.60® 1.70; Indiana. s2® 2.10. Mushrooms —Illinois. 20®32%c, pound cartons. Asparagus—California, $2.25® 3.25. dozen bunches. Leaf Lettuce— Illinois hothouse. 35® 40c. 10 pounds. Onion Market 150-lb. sacks i—Western Valencias. 75c® $1.15; w estern whites. $1.50; Michigan yellows. 75® 85c; Oregon yellows, 75® 85c.- central western yellows. 50® 80c; Texas s’ellows, $1.75; Texas whites, $2.10. FOURTH LIBERTY LOAN 4% PERCENT BONDS OF 1933-38. Notice of second call ‘for partial redemption before maturity. To holders of Fourth Liberty Loan 4% percent bonds of 1933-38 and others concerned : Public notice is hereby given: 1. All outstanding Fourth Liberty Loan 4% percent bonds of 1933-38 (hereinafter referred to as fourth 4 1 e i bearing serial j numbers the final digit of which is 8, or 2 (such serial numbers in the case of permanent coupon bond? being prefixed bv the corresponding distinguishing letter H or B respectively, are hereby called for redemption on October 15 1934 on which date interest on such bonds called for redemption will cease. 2. This second call for partial redemption is made pursuant to the provision for redemption contained in the bonds and in treasury department circular No. 121. dated September 28. 1918. under which the bonds were originally issu'd, the bonds to be redeemed having been determined bv lot in the manner prescribed bv the secretary of the treasury. 3. Outstanding Fourth 4%s bearing serial numbers (and prefix letters>. other than those designated are not included in. or affected bv this second call for partial redemption. Holders of Fourth 4%s now called for redemption on October 15. 1934 may. in advance of that date, be offered the privilege of exchanging *heir called bonds i for other interest-bearing obligations of the United S r ates. in which event public .notice will hereafter be given. Full information regarding the presentation and surrender of Fourth 4%s under this call is given in depa-tment circular No. 509 dated April 13 1934 HENRY MORGENTHAU JR.. Secretary of the Treasury, Treasury Department. Washington, April 13. 1934. Fourth 4’s bearing serial numners ending in 9, 0. or 1, nave heretofore been called for redemption on April 15, 1934. on which date interest on such bonds will cease. .

-'APRIL 14,1934

SELLING DRIVE FORCES FUTURE VALUES LOWER September and May Oats at New Low Levels: Others Weak. BY HARMAN XV. NICHOLS l nited Tress Staff Correspondent CHICAGO. April 14.—Holders of May contracts for grain on the Chicago Board of Tradp continued *odav to switch to deferred deliveries and the selling shifted into other futures. May oats led the decline early and at the inside were less than 30 cents, the lowest since October. September oats sold off to the lowest level since trading began in that future. Wheat finished % to % cent lower, corn was •% cent off. and oats were % to 1% cents lower. Wheat and corn received fair support on the breaks and were inclined to rally rather quickly when soling subsidede. The general runof news had little effect on the market at any time and there was a lack of the aggressive buying in the major grains. Aggregate trade was small of the bulk of the business consisted of liquidation and spreading with cash houses taking May corn and oats and disposing of the distant deliveries. Winnipeg wheat held within narrow margins, averaging lower, while Liverpool lost •% to % cent for the day. Trade in corn was limited and the market declined on liquidation in May. The latter delivery was taken by cash interests and commission houses at 2% to 2% cents under July. Country offerings to arrive remained small. Provisions declined with grains. Chicago Primary. Receipts —April 14— Biishel Todav. Last tv■>*'<. Wheat 345 000 248.000 Corn 400 000 172 000 Oats 125.000 82.000 Chicago Futures Range —April 14— WHEAT— Pre", Open. High. t/nr. C Ins®, close Mav .. .84% .85 .85% ,R4n 85% July .. .35 .85% .84% .84% .85% Sept. .86 .86% .85’i .85% .36% CORN— Mav .. .47 .47'* .46' • .46% .47", July . .49% .50 .49% .59% 50% Sept. .52 .52% .51% .51% ,52 s * OATSMav .30% .30% .29% .29% 30% Julv . .31 .31 .30 .30 .31% Sept .31% .31% .30% .30% .31% RYE— May .58% .58% .57% .57% .58%> LARD 'Oidi— r Julv ..60'- .60% .59% .59% ,60 s * Sep'. .62% .62% .61% .61% .62% BARLEY Mav .40% .40% .40.40% .40 % July . .41% .42% .41% .41% .42% Sept. . .43% .43% .43% .43% .43% Mav . 5.47 5.47 5.40 5.45 5.43 BELLIES (Old' Mav 7.40 7.40 7 40 7 40 7 42 BELLIES (Nejvi— May . 8.00 8.00 800 8.00 800 Jtllv 8.30 8 30 8 30 8 30 8.30 Sept. 8.57 8.57 8.57 8.57 8.57 LARD i New! Mav 6.02 6.02 5.92 5.97 6 00 Ju’v . 6.00 6.05 6 00 605 605 Sent. . 6 27 6 27 6.20 6 25 6.27 CHICAGO CASH GRAIN By T nited Press CHICAGO, April 14.—Wheat—No. 2 red. 85%c: No. 2 hard. 86%c. Corn—No. 3 mixed. 46%® 47c; No. 2 yellow. 47%® 48c: No. 3 yellow, 46%® 47c: No. 2 white. 50%c: sample grade white. 41c: told cornt No. 2 yellow. 48c: No. 3 yellow, 48%e. Oats— No. 2 white. 31 %®32c: No. 3 white. 30% c: No. 4 white, 27%c. Rve—No sales. Barley Sales. 66® 74c: quotable, 48® 80c. Timothy—s6.so® 6.90. Clover seed—ll® 12.25. Cash provisions—Lard. $5.92; loose, $5.87; Leaf. $5.87; S. bellies, SB. INDIANAPOLIS WAGON WHEAT City grain elevators are paying 75 cents for No. 2 soft red wneat. utner graaes on their merits. Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL PRICES % Anthtaclta *4 25 Coke, nut size 8.75 Coke, egg size *%5 Indiana, forked lump 5.50 Indiana, ege 5.00 Indiana, mine run 4.75 Kentucky lump 700 Pocalontas lump 8 25 Pocanontas egg 82$ Pocahontas forked lump 925 Pocah.inL?s 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 sin. BROKERS ACT AGAINST STOCK LEGISLATION Seven Local Houses Ask for Aid of Indiana Congressmen. Protests against drastic regulation legislation proposed for securities exchanges is being made by seven Indianapolis brokerage houses through messages to Indiana members of congress, according to James T. Hamill, chairman of a local organized employes committee. The message requests “that no hasty and drastic legislation be enacted, but that careful consideration be given to the subject of Stock Exchange regulatioas because of i*s many ramifications in the field of American business and finance.” If enacted into law in its present form, the proposed stock regulatory measure would affect approximately 300,000 persons, including employes of Stock Exchange firms and their dependents. Similar action to that taken here is being taken by brokerage employes in 140 other cities in the United States, Mr. Hamill said.

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