Indianapolis Times, Volume 45, Number 291, Indianapolis, Marion County, 16 April 1934 — Page 8

PAGE 8

UNEVEN ACTION MARKS TRADE IN SECURITIES Few Issues Gain Fractions; Others Decline as Volume Dips. Average Stock Prices Average of thirty industrials for Saturday high 105 37. low 104 67. close 105 04 up .06 Average of twenty rails: 43 61, 49 43. 43 57 up 02 Average of twen’y utilities 26 35. 26 05. 26 21 off 01. Average of forty bonds 94 79. up 09. Average of ten first rails 100 02 up .17. Average of ten second rails 84 67. up 28. Average of ten utilities. 97 32. up 02 Average of ten Industrials. 97 14. off .12. BY ELMER C. WALZER United Press Financial Editor NEW YORK. April 16.—The stock market continued to fluctuate in a narrow range at the opening today. Gains and losses were about evenly distributed with no particular group in favor. Volume was small. Several of the leaders opened at the previous close. These included United States Steel, American Telephone. General Motors, Anaconda, Standard Brands and United Aircraft. Small gains were noted in Mclntyre Porcupine, Dome Mines, Sears Roebuck, Packard. Columbia Gas, United States Rubber, Commercial Solvents and Borden. Among the losers were Pennsylvania Railroad, International Nickel, American Can, Texas Corporation and Western Union. The latter was down % at 54%, but other losses were under a half point. McClellan Stores opened 1,200 shares at 3% unchanged, and another block of 3,800 shares sold at 3%, followed by one of 5,000 at 4. During the early trading dealings were light in the main list. Prices held around the opening levels with United States Steel at 52%, unchanged, American Telephone 120%, up 14, unchanged, and Montgomery Ward 31%, off %. National Distillers made up a small loss. Armour of Illinois preferred reached 74, up 1, on the first sale. Bank Clearings INDIANAPOLIS STATEMENT —April 16Clearings $1,847,000.00 Debits 5.803.000 00 TREASURY STATEMENT. By United Press 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 $1,579,473,759.82 Deficit $2,739,487,486 44 $2,340,090,429.18 Cash Bal $4,660,051,620 32

New York Curb (Bv Abbott. Hoppin & Cos.) —April 14— Close Close. Allied Mill* 9% Hud Bav Min. 14*4 Am Cvanide 8.. 20*8 Humble Oil 45% Am Gas & El ■ 27 Imperial Oil Ltd 15 Am Superpower 3% Int Petrol . 26% Ass G & El l's Lake Shore Min 52% Atlas Corp 13% Lib McN Lib .. 7 Axton Fish Tob 62% Lone Star Gas -6% Cen Marc 2% Natl Bellas Hess 3% Cities Serv 2%iNewmont Min.. 56 Cord Corp .. 6%.Nia Hud Pwr.. 6*4 Creole Petrol 11*8 Novadel Agene.. 67% CTown Cork Inti 7*, Park Davis 24% Deere & Cos .. 29% Penn Road 3% Distillers Corp . 21 3t Regis <*aper. 3% Dow Chem 81 3herwin Wms.. 66 El Bd & Shar 17% Std of Ind 27% Fisk Rubber .. 18% 3td of Kv 17 Fd of Can A.. 23% Technicolor Ind 10*4 Ford of Eur 7*2 reck Hughes Gd 7% Glen Alden Coal 17%|Un Gas .... 3 Gulf Oil of Pa 66*8 Un Pw * Lt A 3% Hiram Walker . 43% Wr Harg Min.. 10 Investment Trust Shares (By Abbott, Hoppin & Cos.) —April 14 — Bid. Ask. American Bank Stocks Corp.. i.lB 1.22 American & General Sec A.. 4.87 6.87 American & Inv Tr Sh 1.50 Basic Industry Shares 3.59 3.67 British Type Inv Tr Sh 55 .60 Collateral Trustee Shares A 4 90 5.00 Corporate Trust Shares )old) 2.18 2.21 Corporate Trust Shares (new) 2.46 2.50 Cumulative Trust Shares ... 4.12 4.25 Diversified Trust Shares A ... 612 Diversified Trusc Shares B Diversified Trust Shares C 3.29 3.33 Diversified Trust Shares D ... 487 5.00 First Insurance Stock Corp.. 1.29 1.34 First Common Stock Corp ... 83 .86 Fixed Trust Oil Shares A .... 8.75 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 —. 6.60 6.75 Mass Inv Trust Shares 19.59 21 29 Nation Wide Securities 3.50 3.55 North Am Trust Shares (53).. * 1.90 1.95 NO Am Trust Shares (55-56).. 248 251 North Am Trust Shares (58).. 255 2.60 Selected American Shares 2.70 Selected American Shares Inc 123 1.28 Selected Cumulative Shares .. 685 Selected Income Shares 3.50 400 Std Amrican Trust Shars A . 306 3.15 Trust Shars of Amrica 2.96 3.00 Trustee Std Oil A 5.75 585 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 & C 0.4 April 14. Bid. Ask. Bankers 65 65% Brooklyn Trust 98 100 Central Hanover 134% 135% Chase National 30% 30% Chemical 41% 41% National Citv 30% 30*8 Corn Exchange 56% 57 Continental 14 14% Empire 18% 19 First National 1610 168S Guaranty 58% 60% Irving 18% 18^* Manhatten & Cos 32% 32 s Manufacturers 22% 22% New York Trust 101 * 2 102 % Public 32*2 33% Foreign Exchange (By Abbott. Hoppin & Cos.) —April 14— Close. Sterling. England $5.15% Franc. France 0660% Lir*. Italy 0852 Belgias, Belgium 2340 Mark. Germany 3953 Guilder. Holland f 6773 Peseta. Spain 1368*4 Krone. Norway 2592 Krone. Denmark 2305 Yen. Japan 3040 Federal Farm Loan Bonds ißy Blyth & Cos.. Inc.) —April 14Bid. Ask. 4s Nov. 1. 1957-37 99*4 100% 4s Mav 1. 1958-38 99% 100*4 4%s July 1, 1956-36 100 101 4%s Jan. 1. 1957-37 100 101 4%s Mav 1. 1957-37 100 001 4%s Nov. 1 1958-38 100 101 4%S Mav 1. 1942-32 100 101 4'js Jari. 1. 1943-33 100 101 4%s Jan. 1 1953-33 100 101 4'aS Julv 1. 1953-33 100 101 4%s Jan. 1. 1955-35 100 101 4* as Julv 1. 1955-35 100 101 4%s Jan. 1 1956-36 100 101 4**s Julv 1. 1953-33 IPO*, 101% 4%s Jan. 1. 1954-34 100*4 101*4 4%s Julv 1, 1954-34 100*4 101% 5s Mav 1 1941-31 101*2 1C2% 5s Nov. 1. 1941-31 101*2 102*2 Home Loan 4s. Julv 1. 1951 . 100% 101 Federal Farm Mortgage Corporation 4%s March 15 1964-44 101 101% In the Cotton Markets —April 14— CHICAGO High. Low. Close. January * 12.35 12.33 March 12 45 *2 43 12 43 Mav 11 97 11 93 11 94 Jilv 12.09 12 02 12.07 October 12 20 12 14 12 18 December 12 29 12 26 12 29 NEW YORK January 12.29 12 21 12 28 March 12 38 12.31 12 38 Mav 16.88 11 81 11.87 jilv 12 00 11 92 11.97 October 12 12 12 04 12.10 December 12 23 12 16 12 23 NEW ORLEANS January 12 28 12.23 12 23 March Mav 11.91 11 85 11 90 jtfiy 11 99 11.92 11.97 October 12.13 12 04 12.12 December 12.24 12.15 12.23

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

—April 16— Oil*— Prev High. Low. 10 30 close. Amerada 50% A’i Rfg 29% 29% Barnsdall 9% Consol OH . . 12% 12% Com of Del 21 20% 21 21 Houston <new) 4% 4% Houston (oldi 26% Mid Cont Pet 13% 13% Ohio Oil 13', 13% Pet Corp ... . 12% Phillips Pet ... 20 20 Plymouth OU .. 12% 12% 12% 12% Pure Oil 12% 12% Royal Dutch 35% 35% Bbo Oil 36% Shell Un 9% 9% Skellev Oil 10% 10% Soc Vac .• 16% 16% 5O of Cii 37% 37% 37% 37% S O of Kan 38 S O of N J 45% 45% Sun Oil 61% Texas Corp 26% 27 Tidewater Assn 13 12% steels— Am Roll Mills.- 24% Beth Seel 43% Bvers AM 27% Col Fuel & Irn 6% Mid Steel 17% O'ls S*ee! ... . 6% Rep Irn & Steel 22 22 Rep Irn & Stl pfd. 61% U S Pipe & Fdy 28% 28% U S Steel .. 52% 52% U S Steel pfd 97 96 \ 37 96% Warren Bros 10% Youngst'n & T- .. 28% Motor*— Auburn ... 52% 52 Chrysler 54% 54 54 54 Gen oMtors 38% 38% Gen oMt pfd 99% Graham Mot ... 4% 4 4 4 Hudson 29% 20% Hupp 5*4 5 Nasn 24 24% Packard 5% 5% 5% 5 Reo ... •• 4% Studebaker 7% 7*4 Yellow Truck 5% Motor Acce*a— Bendix 18% Bohn Alum 63 % . Borg Warner ... 25% Briggs .. ... ... 16% Buad Wheel 3% Eaton Mfg ... 20% 20% Elec Auto Lite 27% Houdaille 'A' 5% ... Mullins Mfg . 14% 14% Mullins Mfg pfd. .. ... 35% 34% Murray Body 9% 9% Stew Warner ... 9 Timken Roll 35% Timken Det Axel .. ... 7% 7% Mini"g— Alaska Jun 21 21 Am Metals • 25% Am Smelt .•• 44% 45 Anaconda 16% 16% 16% 16% Anaconda 16% 16% 16% 16% Cal & Hecla ■ .. 5% 5% 5% 5 Cerro De Pasco 38% 38% 38% 38 Dome Mines 38% Granby 12% Gt Nor Ore 14% 14 Howe Sound 53% Int Nickel 27% 28 Int Silver 40 Kennecott Cop. 22% 21% 22 21% Mclntyre Mine.. 48% 48% 48% 48% Noranda Cop 43% Park Utah ... 5% 5% Phelps Dodge .. .. ... 17% 17% St Joe Lead ... ... 23% U S Smelters 177 Vanadium 26% Amusements— Crosley Radio 15 Fox Thea 15% Loews Inc 34% 34% 34% 34% Radio Corp .. 8% 8% RKO 3% 3% 3% 3% Warner Bros .. 8 7% 7% 7% Tobaccos— Am Snuff ... 55% Am Sum Tob 18% Am Tobacco B 72% 72% Ligg & Myers B 93 Lorillard 17y s 17% 17% 17% Reynolds Tob 843 42% 43 42% Rails— Atchison • 69% 68% B & O 29% Can Pac 16% 16% Ch & Ohio 46% 46% 46% 46% C M & St P pfd 11 11 Chi N W 13% Dela & Hud 65% 65% Del Lac & W 28% Erie 22% Grt North pfd * 28% 28% 111 Central 32 K C South 16 16% Lehigh Valley .... ... 18% ■ Lou & Nash ... 60% M K & T 11% ... M K & T pfd 28 Mo Pac 4% Mo Pac pfd 7# 7% N Y Cent 36 36 N Y Chi & St. L 23 N YC & St L pfd 32 32% N Y New Haven 19 N Y Ont & West ... 9% Norfolk & Wes 180 180 Nor Pac . • 34 33% Penn R R 35% 35'/* 35% 35% Sou Pac 28% 28% Sou R R ... ... 32% Sou R R pfd ... . 38 Union Pac 132 ... Wabash 4 West Maryland 15'% Equipments— Allis Chalmers ... ... 19% 19% Am Brake Shoe. .. ... . 32 Am Car & Fdy .. ... 27% ... Am Mach & Fdy 17 17 Am Steel Fdv ... 21 Bald Loco 14 Bald Loco pfd ... 61 Burroughs 15% Cater Tract 31% 32 Deer & Cos. 29% Gen Am Tank C . ■ 41 40% Gen Elec 22% 22% 22% 22% Gen R R Sig 41% Int Harvester 41% 41% Natl Cash Reg. 19 Pulman Inc 57% 57 Rem Rand 12% 12% West Air B ' . ■ 32% Westingh Elec ... 38% ... Utilities — Am & For Pwr 10% 10% Am Power & Lit 9 9 AT&T 120% 120% 120% 120% Am Wat Wks 21 21 Brook Un Gas .... ... 21 21 Brook Un Gas . • • • 15% Col Gas & Elec. 15% 15% 15% .•• Com & Sou • 214 3 Consol Gas ..... 38% 38% 38% 38 Elec Pwr & Lit 7% E P & L pfd 16% Int Hs’dro Elec. . • ••• 7% Int TANARUS& T .... 14% 14% 14% 14% Lou G&EA - 18 Nat Pwr & Lit 12 12 North Amer 19% }9% Pac G & E I|% Peoples Gas -8% Pub Serv N J 37% So Cal Edison 19% Std Gas • - „ 12% 13 Std Gas pfd ... 13% 13% 13% 13% Stone & Web ... •• 9% 9% United Corp 6% 6*/a 6% 6 a Un Gas Imp 16% 16% Ut Pwr & Lit A 3% Western Union ... ••• 54% 55 4 Rubbers Firestone 22% . • Goodrich IS,? Goodyear ••• 36% Jo 4 Kelly Spring ... ••• • , 3 4 U S Rubber 20% 20% 20% 20 2 U S Rubber pfd 49% 49% Miscellaneous— _ Am Can 105% 104% 104% 104% Brklvn Man Tr. .. ... ••• 31 Conti Can 2i% Curtis Pub ••• 12/ Curtis Pub pfd 80 Eastman Kodak ?2 Gillette 10% 10% I Glidden 2.% I Inter Rapid Tr £ \ Owens Bottle ..... 88 ! Foods— Am Sugar 53 Armour A 7% 7 2 Borden Prod 231* 23 Cal Packing .. .. ... 29 29 Can Dry G Ale 26% Coca Cola 119% Corn Prod 77% i7% Crm of Wheat.. ••• • 32% Gen Foods ■■ 34% 34% 34% 34% Gold Dust 21% 21*4 C W Sugar 30 Int Salt 29 Loose Wiles . ■ 42% . Natl Biscuit .... 44 43% 44 43% Natl D Prod 15% 16 Purity Bak 16% S Por Rico Sug 32*% 32*4 32% 32% Std Brands ... 21% 21% Un Biscuit 26% United Friut *O% Ward Bak “A” 8% . _ Wriglev ... 62 Retail Stores— Ass Drv Goods 16% Best & Cos 33% First Natl Stores 65 65 , Gimbel Bros •• ■ 5 | Gr Un Tea J % i Hahn Dept Sts '% : Jewel Tea 48% i Kresge S S 20% 20% Kroger Groc ... 32*4 32 Macy R H 49 % Marshall Fields . • 18% 19 Mont Ward 31% 31% 31% 31*2 Natl Tea 16% Pennv J C ••• §7% ; Safeway St ... . 54 Sears Roebuck . 54% 50 50 49% Woolworth ... 53 52% Aviation— Aviation Corp . 8% 8% Curtiss Wright A 11*4 11% 11% 11% Curtiss Wright 4*4 4% Douglass Air 24** 24% Nor Am Av 6 Speerv Corp - 10*2 10% United Aircraft - 23 22% 22% 23 Wright Aero •••

Bright Spots

(By Abbot. Hoppin & Cos.) Cnderwood-Elliott-Fisher Company in the quarter ended March 31 earned E 9 cents a share on the common stock against 13 cents a share in the like 1933 quarter. Ward Baking Company in twelve months ended March 24 had a net loss of $l6B 417 after charges against slOl,559 in the preceding twelve-month period. Wright Aeronaut Corporation in 1933 had a net profit of $364,606 after taxes and other charges. Western Union Companv February net loss amounted to *4.538 after charges against $44,704 in February. 1933. American International Corporation reports net assets as of March 31 of $20,574,929, indicating a liquid value of $6.70 a share on the common stock. M;nneapolis-Honevwell Regulator Companv report for the quarter ended March 31 shows net tales were *656.166 as compared as compared with $382 522 in the same quarter last year. The companv had a net loss in the quarter of $21,425, against $128,256 a year ago.

Chemical*— Allied Chem 150 Am Com A1c0... 50% 50 50% 49% Com Solvent* .. 29 % 29% 29*4 29*4 Dupont 97*4 97*4 Freeport Tex 45*4 Math Alkali 38 36 Natl Dis (new 1 . 30*4 29% 30 30% Schenelev Dist . 36% 36% 38% 36% Tex Gulf Sulph 36% 36% Union Carbide 45% U S Indus Alcoh .. ... ... 52** Drug*— Cotv Inc 7% Lambert .. 26% Un Drug 16% 16% Zonite Prod ... 7% 7% Financial— Adams Exp 9% 9*4 Allegheny Corp 3*4 Ch*sa Corp ... 46% 46% Transamerica 8% Tr Conti Corp 5*2 Building— Am Radiator .. 15% 15% 15% 15% Gen Asphalt 19% Int Cement 30*4 . Johns Manville 58 58 Libby Owens Gls 37 Ulen Const 3% Household— Col Pal Peet 17% Congoleum 27% 27% Kelvinator ... 19% 19% Mohawk Carpet. 19% 19 19% 19% Proc & Gamble 36 36 Simmons Bed 20% Textiles— Amer Woolen ..... 15 Beldmg Hem 14*4 14’* Celanese Corp 37% Collins Alkman 23% 23 Gotham Hose 10 Indus Rayon 87%

Chicago Stocks By Abbott, Hoppin & Cos.""" " 1

—April 16— High. Low. close. Asbestos Mfg 3% Berghoff 9 Bendix Aviation 18% Borg-Warner 25% 24% 24% Btler Bros 12*4 11% 11% Chicago Corp C0m.... 2% 2% 2% Chicago Corp pfd .. 27% Cities Service 2*4 2% 2% Commonwlth Edison... 57 56% 56% Cord Corp 6% 6% 6% Gen Household Util 15*% 15*4 15% Great Lakes Dredge ... 20 Iron Fireman 12% Libby-McNeil 7 6% 6% Middle West Utilities % Midland United % National-Standard 24 Noblltt-Sparks Ind Inc. .. ... 14% Public Service N P 18 Swift & Cos 17% 17% 17*2 Swift International .... 29% 29*4 29' 4 Thompson JR ... 8% Utility & Ind 4*4 4% 4% Vortex Cup Cos ... 10%

Bond Prices

(By Fenner & Beane) —April 16— High. Low. 10:30. AUeg Corp 5s ’SO 43% 43*4 43% Am&For Pwr 5s 2030 ... 56% AT&T db 5s ’65 .. 107 Atchison gen 4s '95 96% B&O cv 4%s ’6O 72 71'% 71% Beth Steel 5s A 36 102% Brazil 6%s (26) ’57 27% 27 27 ChMStP&P adj 5s A 2000 . 19*4 ChMStP&Prfss A ’75. 56 55% 55% Cons Gas NY 4%s ’5 103*4 Denmark 5%s '55 ... 92% Erie RR rs 5s ’67 78 77% 77% Goodyear 5s ’57 99% 99% 99*4 Gt Nor 4%s D ’76 86 Gt Nor 7s A '36 ... 99*4 Interboro RT 5s ’66 ... 71*% 71% 71% Int T&T db 5s ’55 68 67% 67% Lorillard 7s ’44 120% McKess&Robb 5%s 'SO. 84 83 83 Nat Dafry db 5%s ’48... 94% 94 94 NY Cent 4%s 2013 81 80% 80% Nor Am 5s ’6l • 90 Para Pub 5%s ’SO .... 55 54% 54% Penn RR 4%s D ’Bl- 96% Poland 7s ’47 97% Royal Dutch 4s 4 ’45 138% Sin Cons 6%s B ’3B 104% Texas Corp 5s ’44 ■ 102% Un Pac Ist 4s ’47 .....105 104% 104% US Rubber 5s A 47 87% Western Un 5s ’sl ... .. ... 92*4 Ygstwn S&T 5s B 70 87*% Produce Markets Delivered in Indianapolis Price*—Hens. He. 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 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<2?4c; butterfat, 21c. — Quoted by Wadley. By United Pres* CHICAGO. April 16.—Eggs-MarketT firmer; receipts 52.088 cases: extra firsts, 17c; fresh graded firsts. 16%c; current receipts, 15%c; dirties, 14%c; checks 13%C. Butter—Market about steady; receipts. 10,466: extra firsts (90-91 % score) 22®22%c; firsts iBB-89% score). 21%<321%c: seconds <B6-87% score). 21c: extras (92 score), 22%c; specials 23@23%c; standards, 22%c. Poultry—Market, steady; receipts, 20 trucks, 1 car. 1 car due; heavy hens 14c; ducks. 16c; old roosters. 9%c; spring's, 25c; geese. 8c; broilers 24® 25c: capons, 22c; turkeys, 20c; fryers. 25c. Cheese—Twins, 11*%®ll%c; Longhorns 12®12%c; Daiies, 12®12%c. Potatoes—Old stock, supply liberal: demand and trading slow: market barely steady; Idaho russets 9 cars, $1.65; Washington russets combination grade 2 cars. $1.32*2; Colorado McClure’s. 3 cars, $1 55: 1 car. $1.60; Minnesota and North Dakota Red river section Red river Ohios, 1 car. $1.40; Minnesota cobblers. 100-lb. sacks. 2 cars, $1; Wisconsin round whites 2 cars, $1.50; Nebraska triumphs. 1 car $1.45. New stock —Supply moderate; demand and trading moderate; market barely steady; sales to lobbers Texas. 50-lb. sacks Bliss Triumphs. $1.65(31.70. Shipment. 972; arrivals, 206; on track, 422. CINCINNATI, April 16.—Butter—Packing stock. No. 2. 15c; butter fat. 19c. Eggs —Steady; extra white. 15%c: seconds, 13%c; nearby ungraded, 14%c. Live poultry —Fowls, 5 lbs., and over, 13c; 4 lbs. and over, 14c: 3 lbs. and over, 14c; Leghorns, 3 lbs. and over. 12c; roosters. 9c; 1934 colored broilers. 1% lbs. and over, 25c; 2 lbs. and over, 25c; 1934 Leghorn 'broilers, 1% lbs. and over, 23c; 2 lbs. and over. 22c; partly feathered broilers, 18® 20c: capons. 8 lbs. and over, 25c; under 8 lbs., 20c; ducks, white. 4 lbs. and over. 12c; under 4 lbs.. 11c: colored. 4 lbs. and over. 11c; under 4 lbs.. $10; guineas, old, 13c; No. 1 turkevs, young hens, 8 lbs. and over and young Toms. 10-15 lbs., 15c: No. 1 old toms. 15c. CLEVELAND. April 16.—Butter market firm; extras. 26%c: standards, 26%c. Eggs —Market, firm: extra white. 15%c; current receipts. 15c. Poultry—Market, weak; colored fowl, 4*2 lbs. and up, 17c: colored fowl, medium, 16c; Leghorn fowl, 3*2 lbs. and up. 15c; Leghorn fow'l, 13c; broilers, colored. 25c; old roosters, 10c; ducks, white. 5% lbs. and up. 20c; ducks, liight, old. 17c; geese, ordinary. 12c; broilers. fancy Rock. 29c: broilers. Leghorn, 23c; stags. 14® 15c. Potatoes—Maine, mostly 52.25 per 100 lb. sack; Idaho, mostly $1.90®2; Ohio and New York. $1.85® 1-90. NEW YORK. April 16.—Potatoes-Steady; Long Island. [email protected] bbl.: Southern, $3.10® 6 bbl.; Maine, 90c%53.75 bbl.; Idaho, $2®2.20 sack: Bermuda. $4®4.50 bbl.; Canada, sl.Bo® 1.90 bbl. Sweet potatoes —Steady; Jersey, basket. 50c®51.75; southern, basket. 50c®$$.50. Flour—Dull; springs, patents. 56.15®6 bbl. PorkSteady; mess. S2O 25 bbl. Lard—Steady; middle west spot, $4.50®4.60 per 100 lbs. Dressed poultry—Firm** turkeys, 18@ 25%cc; chickens. 9®29c; broilers. 16®29c; capons, 20® 32c: fowls, 14® 19c; Long Island ducks. 15%®Y7c. Live poultry— Firm; geese. 7®9c: turkeys. 18®22c; roosters. 10c; ducks, B@l2c; fowls, 17@18c; chickens. 10® 12c: capons. 22c; broilers, 12®24c. Cheese—Easy; state whole milk fancy to specials, 18® 19c. NEW YORK COFFEE FUTURES —April 14— SANTOS High. Low. Close. March 11.40 Mav 10.78 July 10.91 10.87 10.91 September 11.22 11.15 11.22 December 11.32 11.27 11.32 RIO January ... 8.74 March Mav 8.37 Julv 8.54 September 8 63 8.62 8 63 December ... 8.70 BUTLER MANUSCRIPT PLANS SECOND ISSUE Literary Magazine to Print Themes of English Students. The second issue of Manuscript, anew literary magazine recently founded at Butler university, will appear Wednesday, according to an announcement by John Thompson, editor. Contents of the spring issue will be themes writen by students under the direction of Dr. Allegra Stewart and Don Sparks, instructors. Contributions will be Jane 6olsher. Mary Louise Colven, Aliceruth Johnson, Stephen Bailey, Margaret Foster. Maxine Peters, Betty Davenport and Nelson Collins. Odd Fellows to Gather Samaritan Encampment, Independent Order of Odd Fellows, will hold a social meeting Friday night at the hall, Blaine avenue and Howard street. Sr

THE INDIANAPOLIS TIMES

SWINE PRICES STEADY TO 10 CENTSLOWER Lamb Market Strong at $8 Down; Vealers Unchanged. Hog values remained steady to around 10 cents lower than Saturdays average in early trading at the Union Stockyards this morning. Underweights displayed only little change. The bulk, 160 to 300 pounds, was selling at $4. while few good and choice grades were reported salable at $4.05. Small slaughter pigs, weighing 130 to 160 pounds, brought $3.25 to 53.75. Lightest classes scaling 100 to 130 pounds, were salable at $2.25 to $3. Receipts were estimated at 7,000. Holdovers, 242. Initial sales of steers in the cattle market were light and steady with the previous session. Unusual run of steers averaging around 2,200 pounds were on hand at the opening. The outstanding lot, consisting of sixty-one head, were valued to sell at 5 cents a pound. Receipts numbered 600. With only small interest evident in the veal market, practically all classes continued unchanged, selling at $6.50 down. Receipts were 600. An early advance of 25 cents featured lamb trading, with three loads of shorn western kinds salable at SB. Other classes were inactive. Receipts were 800. Few scattered bids on hogs at Chicago remained unchanged with Friday’s average at $4.10 downward. Receipts were estimated at 28,000, irltluding 15,000 directs; holdovers, I. Cattle receipts were 15,000; calves, 2,000; market weak. Sheep receipts numbered 10,000; market strong. HOGS April. Bulk. Top. Receipts. 10. $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 16. 4.00 4.05 7,000 Market Lower. (140-160) Good and choice..s 3.50® 3.75 —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# 4.05 1220-250) Good and choice .. 4.00® 4.05 —Heavy Weights—-(2so-290) Good and choice ... 4.00® 4.05 (290-350) Good and choice ... 3.80® 4.00 —Packing Sows—■ (350 down) Good 3.15® 3.40 (250 up) Good 3.15® 3.25 (All weights) Medium 2.85® 3.15 —Slaughter Pigs—-(loo-130) Good and choice ... 2.25# 3.00 CATTLE Receipts, 600; market, steady (1.050-1,1001-Good and choice $ 6.50® 7.50 Common and medium .... 4.50®. 6.50 (1.100-1,5001-Good and choice 6.25® 7.65 Common and medium .... 4.75® 6.25 (675-750) Good and choice i 5.25® 8.25 Common and medium .... [email protected] (750-900) — Good and medium 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# 7.25 • —Bulls (yearlings excluded)— Good (beef steers) 3.00® 3.75 Cutter, common and medium. 1.75® 3.00 VEALERS Receipts, 600; market, steady. Good and choice $ 6.00® 6.50 Medium 4.00® 6.00 Cul and common 2.50® 4.00 —Calves— Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle — Good and choice 4.00® 5.50 Common and medium 2.755% 4.00 (800-1,500) Good and choice 4.00® 5.50 Common and medium 2.75# 4.00 SHEEP AND LAMBS Receipts, 800; market, higher shorn basis. (90 lbs. down) Good & choice $7 7.50® 8 00 (90-110 lbs.) Good and choice 7.25® 7.75 (500 lbs. dow'n) Com. and med 6.50® 7.50 —Ewes— Good and choice 3.50® 4.00 Common and medium .... 1.75# 3.50 Other Livestock By United Press CHICAGO, April 16.—Hogs—Receipts, 28 000; including 15 000 directs; slow, W’eak to 10c lower; 170-270 lbs.. $3.90®4.05; top, $4.10 sparingly; 280-325 lbs.. $3.75®3.90; light lights, $3.90 down: pigs. $3.25: packing sow's $3.10®3.25; light lights. 140-160 lbs., good and choice, $3.50®4; lightweights, 160-200 lbs., good and choice, $3.85 ®4.10: medium weights 200-250 lbs. good and choice, $3.90#4.10; heavyweights, 250350 lbs., good and choice $3.70®4: packing sows, 275-550 lbs., medium and choice, [email protected]; slaughter pigs 100-130 lbs., good and choice, 52.50® 3.50. Cattle—Receipts. 15.000; calves, 2 000; fed steers and yearlings strong and very active; in-be-tween kinds largely good to choice, scaling 1,200 lbs. up in broadest demand; shippers hungry for all grades weighty steers and choice light offerings: kinds scaling 1 150-1.551 lbs.. $7.75; heavies, $7 ®7.50: other killers fully steady. Slaughter cattle and vealers —Steers, 550-900 lbs., good and choice $6.25® 7.75: 900-1,100 lbs. good and choice. $6.25® 7.90; 1.100-1.300 lbs., good and choice $6.50®7.90; 1,3001,500 lbs.; good and choice. $6.257.90; 5051.300 lbs., common and medium. $4.25® 6.50: heifers 550-750 lbs., good and choice $5.25 ®6 35; common and medium. $3.50®5.25; cow’s, good. $3.75®4.50; common and medium. $2.85® 3.75; low cutter and cutter cows $1.90®2 85: bulls, yearlings excluded, good, beef, $3.25®3.75; cutter, common and medium. [email protected]; vealers good and choice $5.25®7; medium, $4®5.25; cull and common s3®4: stocker and feeder cattle: Steers, 550-1,050 lbs., good and choice. $4.75 ® 5.75; common and medium. $3.25® 4.75. Sheep—Receipts, 10 000; generally asking 25 and more higher on desirable fat lambs: little buyer interest: medium weight wooi skins, $9.75 up: large interests talking $9.50 and below early; sheep steady; slaughter sheep and lambs: Lambs. 90 lbs. down, good and choice [email protected]; common and medium. 57®9.25: 90-98 lbs., good and choice [email protected]; ewes 90-150 lbs., good and choice. $3.75® 5 25; all weights, common and medium, $3#4.25. CINCINNATI, April 16.—Hogs Receipts. 5,000 head, including 849 direct and through; market, active; 10 cents higher than Friday: top and bulk, 170300 lbs.. $4.25: 160-170 lbs.. $3.75®4; 140160 lbs., light lights. $3.25® 3.50; lighter weights from $3 dow: good packing sows, $2.7503. Cattle—Receipts, 1,500; calves, 500; steers, cows and bulls steady to shade lower than Friday; bulk medium to good steers and heifers. ss® 6; few upward to $6.40; most beef cows. 53.2504; individual head to $4 50; bulk low cutters and cutters, 51.75<53; sausage bulls, $3474; calves, steady; good to choice vealers. $5.50®,6.50. Sheep—Receipts, 100; new crop lambs predominating; moderate supplv on hand early; good to choice springers steady at sll® 1$; not enough other classes to merit mention, FT. WAYNE. April 16.—Hogs, 5 to 10 cents lower; 250-300 lbs., $4.05: 200-250 lbs.. $3.90: 180-200 lbs.. $3 80. ICO-180 lbs., 53.70: 300-250 lbs.. $3.65; 150-160 lbs.. $2.10; 140-150 lbs., $3.15: 130-140 lbs.. $2.90; 120130 lbs.. $2.40: 100-120 lbs., $2.10: roughs, $2 75: stags. $1.50. Calves—s6.so; lambs, $9 down. LAFAYETTE, April 16—Hog market steadv to 10 cents lower; 200-325 lbs., S3 60® 3.85! 160-200 lbs.. 53.65® 3.75; 140160 lbs., S3 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 16.—Cattle—Receipts 800; demand broad from all interest: quality fairly desirable; market active: sausage bulls steady; other slaughter classes unevenly 25® 50c higher; most advance on medium steers and heifers and beef cows: bulk common to medium steers and heifers, $4. 25® 5.25: most better finished kinds. $5.50®6: bulk beef cows, s3® 3.75; smooth heifer types to $4 and better: most low cuttesr and cutter cows $1.50® 2.50; sausage bulls. $3.75 down; stockers and feeders fullv steady; common to medium natives mostly S3®4; well bred light Hereford stockers mainly ss® 5.25: few held higher. Calves—Receipts. 600: steady; bulk befer vealers, $4.50® a; strictly choice kinds eligible. 55.50: medium and lower grades $3.50 down. Hogs—Receipts 1.600; steadv: 170-240 lbs.. $4.10; 24a-270 lbs.. $3.75: 275 lbs. up. $3.40, 145-165 lbs. $3.25; 120-140 lbs.. $1.90: sows. $2.15. Sheep—Receipts. 75: generally steadv: medium to good wooled lambs salable s7®B: choice kinds quotable higher: common light throwouts $5: bulk fat wooied ewes. $2 50 ®3: few spring lambs. $10.50: choice kinds weighing around 65 ibs. considered eligible to around sll. 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 i September 1.53 December

Relief Expenditures of U. S. Cut to 50 Per Cent

Administration Estimates Emergency Needs at $7,523,486,700. BY RICHARD L. GRIDLEY United Press Financial Correspondent WASHINGTON, April 16.—A sharp decline in federal relief expenditures with expansion of business and termination of the CWA program was shown by treasury department figures today. Emergency expenditures of the government have dropped nearly 50 per cent after reaching the depression peak of $808,000,000 during January. Because of lower relief needs and slower government relief spending emergency expenditures total just half the amount provided in the budget. Store Sales Climb For the present fiscal year the administration estimated emergency needs at $7,523,486,700. For the first nine months of the current fiscal year to March 31, 1933, emergency expenditures amounted to only $2,900,000.000. They are currently running slightly above this rate, but at about half that of January. The less than anticipated government aid for business and relief was believed to indicate a greater than expected expansion in business. Os the various government departments the Reconstruction Finance Corporation is believed to have shown greatest reduction in emergency expenditures. This unit, Jesse H. Jones, chairman, estimated will spend $500,000,000 less this fiscal year than provided for in the budget. Important business indices showed further gains in business activity this week. Department store sales in March showed the greatest climb since the depression, registering a gain of 44 per cent over last year. Pay Rolls Show Gain The gain was believed to reflect the nation’s growing pay rolls and employment and marked a rapid flow of goods into the hands of consumers. Another important consumer buying index, automobile production, last week reached another ne whigh when 89,722 units were turned out. Both production and employment records in the automobile industry since September, 1929, were reported broken by the upturn during March. The steel industry stepped up ingot output to the highest level of the current year at 49% per cent of capacity. Electric power output last week was 15.5 per cent above a year ago. A. T. & T. ANNOUNCES BUSINESS INCREASE Earnings in First Quarter Equal $1.77 a Share. By Times Special NEW YORK, April 16.—The American Telephone and Telegraph Company in its statement for the first quarter of this year reports a gain of 108,000 in the number of Bell System telephones. This compares with a gain of 32,000 telephones in the preceding quarter, and a net loss of 340,000 in the like 1933 quarter. Toll and long distance calls in the three months ended March 31 were approximately 8 per cent greater than in the corresponding period of 1933, but were about 14 per cent under the 1932 first quarter. Earnings in the first quarter of the company and its associated companies, including the Western Electric Company which is still operating at less than 20 per cent of capacity, amounted to $1.53 a share, or at the annual rate of $6.12 a share,.compared with $5.38 in 1933. Earnings of the company alone in the first quarter amounted to $1.77 a share. 200 BOYS FLY KITES IN CITY TOURNAMENT Lawrence Kohlmeyer Wins Tabernacle Church Honors. Two hundred boys took part Saturday in the tenth annual kite tournament of the Tabernacle Presbyterian church. Eighty-two kites were flown. The grand prize was won by Lawrence Kohlmeyer, son of Mr. and Mrs. L. D. Kohlmeyer, 3427 Broadway. James B. Martin, church recreation director, was in charge. PROPOSE NEW SLATE Ward Stockholders Association Seeks “Balanced Board.” By Times Special CHICAGO, April 16. Mont-gomery-Ward Stockholders Association, an insurgent group, is proposing anew -directors’ slate for Montgomery Ward & Cos., Joseph Zook, head of the group has revealed. The slate calls for a “balanced board,” one a present Ward officer, and the other “an expert in retail fields.” Mr. Zook is the first of the proposed board of directors to be voted on at the annual meeting to be held here April 27. MARION CAMP WINNER Modern Woodmen Unit to Get Cup on Tuesday. Marion camp, Modern Woodmen of America, will receive the cup which is awarded annually to that camp initiating the most new members during the year, Tuesday night ; at the Woodmen hall, 322 East New York street. Presentation will be made by Director John D. Volz. Railroad Attorney Dead By United Press NEW YORK, April 16.—George F. Brownwell, 72, who for half a century was legal counsel for the Erie Railroad and a director in numerous subsidiaries, died at his home here of pneumonia. Famous Golf Pro Passes By United Press ST. ANDREWS, Scotland, April 16.—Andrew Kirkaldy, 74, famous professional of the Royal and Ancient Golf Club, died today after a week’s-illness.

WARN COTTON GROWERS OF HOLDING CONTRACTS Profit of S2O a Bale Available to Producers. By United Press WASHINGTON. April 16.—The AAA today warned cotton growers holding approximately 12.000 option contracts that these options must be exercised, either directly or by placing the baleage represented in the AAA pool, before May 1. If these outstanding options are not exercised or extended, officials explained, holders would stand to lose their share of the $1,560,000 benefits involved. “The profit of approximately S2O per bale, available to producers who hold these outstanding options, involving about 78,000 bales, is compensation due them from the 1933 acreage reduction program,” said J. O. Lamkin, assistant manager of the pool, “The administration is anxious that every one of the holders of these options get their money.” ARMOUR & COMPANY STUDIES NEW PLAN Recapitalization Program Near Completion. By Times Special CHICAGO, April 16.—A recapitalization plan for Armour & Cos. is expected to be completed some time this week in time to be submitted at the regular meeting of directors here Friday. Plans for the new program were discussed in New York last week by T. G. Lee, president, and Philip A. Reed, first vice-president and treasurer with Frederick H. Prince, chairman of the executive committeee. All three have refused to comment on the new plan, but indications are that something has become known, for from comparative lethargy, the preferred and A and B stock leaped into the group of the ten most active stocks in the New York Stock Exchange last week. Details of the plan vary widely, but authoritative sources reveal that an earlier plan quoted in many quarters that one class of the common would be established in exchange for the present pereferred and common issues would not be followed. Officials and directors have declared that any plan that is worked out will permit an earlier dividend resumption than the present setup permits. The company attempted a recapitalization program last year, but failed. Directors are determined that the present scheme shall be acceptable before submission to stockholders. MARCH CONSTRUCTION AWARDS SHOW GAIN Contracts Double the Amount Issued In February. By United Press NEW YORK. April 16.—Construction contracts awarded in the twen-ty-seven eastern states in March aggregated $179,161,500, almost twice the total reported in February and about three times as large as the volume in March, 1933, the F. W. Dodge Corporation reported today. Awards in the first quarter of 1934 totaled $462,341,500, compared with $196,026,800 in the corresponding period last year. Residential building so far in 1934 has gained about 46 per cent over a year age and nonresidential building advanced almost 85 per cent. Public works construction in the first quarter 1934 exceeded the volume for the 1933 quarter by 3% times, while public utilities construction was 2*% times greater. WAGE RISE ANNOUNCED BY FOUR COMPANIES Selby Shoe Firm to Make SIOO,OOO Bonus Distribution. An increase in wages was announced by four concerns in the United States last week. Another disclosed a SIOO,OOO bonus to be distributed. Corning Glass Works, Corning, N. Y., announced increases on a sliding scale, effective today. Ingersoll Rand Company, Painted Post, N. Y., announced a similar plan. Increases of 10 per cent will be made by the Dewey Portland Cement Company, Bartlesville, Okla., and the R. Wallace & Cos., silver manufacturers. Selby Shoe Company has set aside SIOO,OOO out of earnings to be distributed to employes in proportion to their earnings in the last six months. BURK MEETINGS LISTED G. O. P. Candidate for Mayor Announces Engagements. J. Ed Burk, candidate for the Republican nomination for mayor, today announced several campaign meetings for this week. They inj elude: Tonight, 1206 South State avenue; l tomorrow, McClainsville hall, Troy and Carson avenues; Wednesday, McKinley Club, 2217 East Michigan | street; Thursday, 1135 Garfield place; Friday, 4420 Baltimore avenue. All will start at 8 p. m. Coal Production Mark Set Indiana coal production reached 399.000 tons during the week ended March 31, the highest mark in more than a year, a report from the United States Bureau of Mines showed today. Cornell Alumni Elect New officers of the Cornell Alumni Association elected at a meeting at the Indianapolis Athletic Club are Harry V. Wade, president; Thomas Hood, secretary', and Ralston Jones, treasurer. Young Democrats to Meet Seventh Ward Young Democratic Club will meet at 7:30 tonight in the home of Miss Lucille Kruger, 2249 North Illinois street. All candidates are invited.

GRAIN VALUES UNCHANGED IN DULL SESSION . Wheat, Corn Moves Uneven in Small Range; Oats Are Weak. BY HARMAN W. NICHOLS United Pres* Staff Correspondent CHICAGO. April 16.—Routine developments over the week-end had little effect on the gram trade and prices held steady at the opening of the Board of Trade today. Wheat and corn ranged from %c lower to % cent higher, oats was unchanged to % cent lower, and rye was up % cent. Advices from the Rome conference that the members favor increased consumption of surpluses cheered Liverpool and prices firmed in that market. Stocks and cotton were about steady. Chicago Primary Receipts —April 14— —Bushel— Today. Last tveek. Wheat 345 000 248.000 Corn 400 000 172.000 lOats 125.000 98.000 Chicago Futures Range —April 16WHEAT— Prev. High. Low, 10:00 close. Mav 85 .84% .84% .84% Julv 85 * s -84% .84% .84*4 Sept 86*4 .85% .85% .85% CORNMay 47 .45% .45*4 .46% July 49% .49 .49 .49% Sept 52 .51% .51% .51% OATS— Mav 29% 28% .28*4 .28% Julv 30% .29% .29*2 .30% Sejin E - 30% .30** .30% .30% Mav 58% .57% .57% .57*4 Julv 59% .59% .59 % .59% Sept 61% .61% BARLEY— Mav 39% .40% July 41% .41% Sept 43 % .43% CHICAGO CASH GRAIN By United Press CHICAGO, April 14 —Wheat—No. 2 red, 85%c; No. 2 hard. 86%c. Corn—No. 3 mixed, 46*2047c; No. 2 yellow. 47%®48c; No. 3 yellow. 46%®47c; No. 2 white. 50*4c: sample grade white, 41c; (old corni No. 2 yellow, 48c; No. 3 yellow, 48*4C. Oats— No. 2 white. 31%®32c; No. 3 white, 30%c; No. 4 white. 27* ic. Rye—No sales. Barley —Sales. 66®74c; quotable. 48®80c. Timothy—s6.so®6.9o. Clover seed—ll®l2 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 grades on their merlta. 0n Commission Row —April 16Fruits Apples—New York Baldwins, fancy, $1.65 up; fancy Staymans. $2.25; fancy Winesaps, $2.5’). Oranges—California Sunkist, [email protected]; Floridas, $3®3.75. Lemons—Sunkist. $5 50. Grapefruit—Arizona seedless. 645-70s. $3 @3.25; Florida. [email protected]. Strawberries—Louisiana. 24-pt. crate. $3. Melons—Argentina Hcneydews. $2.25. Pears—Calavos, $3.50 per box. Bananas —Per pound. 5 cents. Vegetab'es Cabbage—New Texas, $1.35 per halfcrate; Florida red, $3 per hamper. Celery—Florida. $2.85 a crate; mammoth bunch, 85c; medium bunch. 45c: hearts, dozen bunch. $1.35. Onions —Indiana 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, [email protected]. 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. $3.75® 4.50 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 ner bushei Tomatoes Repacked. 10-lb. carton. $1.50: selected, cellophane wrapped, $1.75; original Mexican, 30-lb. lug. $7.50. Retail Coal Prices The following prices represent quotations from leading Indianapolis coa! dealers. A cash discount of 25 cents per ton is allowed DOMESTIC RETAIL TRICES Anthracite $4.25 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 825 Pocahontas forked lump 9.25 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6.75 West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to ain. KY. COAL OPERATORS AGAINST WAGE JUMP Protests to Be Checked This Week by Administrator Johnson. By United Press WASHINGTON, April 16.—Protests of western Kentucky operators against increase from $4 to $4.60 in basic dei’ly wage under the bituminous . -al code are bing checked against NF.\ statistical data pending decision by Administrator Hugh S. Johnson expected this week. Complaints in public hearing were met by charges of union labor that miners were being discharged for union affiliation and evicted from company houses, particularly by the Western Kentucky Coal Company. W. F. Richardson, company president, denied the charges and said elimination of existing differentials placed the mines in an unfair competitive position because of freight rates. Wheat Committee Acts By United Press ROME, April 16.—The international wheat advisory committee has decided to make recommendations to governments regarding a plan to effect system of minimum prices for the world wheat trade. The United States and Canada are represented on the committee.

Abbott, Hoppin & Company 203 Continental Bank Building RI ley 5491 1 P& MEMBERS; New York Stock Exchange Chicago Board of Trade New York Curb Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Curb Exchange New York Produce Exchange Commodity Exchange. Inc New York Coffee and Sugar Exchange. Inc. Chicago Mercantile Exchange Co>Managers James T. Hamill Kenneth K. Woolling

APRIL 16,1934’

Wall Street Brokers Anxiously Await President’s Action on Exchange Bill. BY RALPH HEVDERSHOT

limes Special Financial Writer STREET was anxiously * * awaiting President Roosevelts return to the White House. Things were going along fairly smoothly, legislatively speaking, when the chief executive left for his vacation, but no sooner had he gone than all sorts of complications began to crop up.

The Street, of course, does not see eye to eye with the President on a great many subjects, but it would like to know where it stands, and also where Mr. R o o sevelfc stands. They will be interested to know whether he still swings as big a stick as he did, and whether he still holds the same ideas, particularly about

Hendershot

the stock market regulation measure. The boys in the financial district have sawed a lot of wood since Mr. Roosevelt went away. It looks as though they have cut the market regulation bill down to where it is not too severe, and it looks also as though they have sold some of the President's representatives on the notion that the Securities Act of 1933 should be amended. Their accomplishments, in fact, have seemed almost too good to be true. Therefore, they await Mr. Roosevelt’s return with fear and trembling, but also with the feeling that they should know the worst as soon as possible. u n tt Would Make Friends THAT they helped all they could to throw the President into reverse a short time ago when his veto was overridden is generally accepted. That they would repeat the operation is conceded. But at the same time they have been trying to make friends with him, as was indicated the other day when the big banks bought space in many of the newspapers to help the treasury department W’ith its financing plans. In several ways the Street also has indirectly expressed its willingness to be good. The New* York Stock Exchange's investigation of stock manipulation a few days ago was an example. If Mr. Roosevelt and congress will only call off its campaign. Wall Street is prepared to do any thing within reason. It is all set, for instance, to furnish plenty of long-term credit to industry if the Securities Act is modified. and the banks w’ould loosen up on credit also if that were done. ana Will Fight If Necessary BUT the Street also has made up its mind to fight if things in Washington go too much against it. if realizes that its business is at stake, and it has no idea of giving up without a battle. And it is not without considerable influence. Its political tactics in the past have been very bad, but it seems to be learning a few of the tricks. Moreover, it has had a taste of blood, and its courage and determination j have been materially improved. Whether there is to be peace or war depends entirely upon the President. Another matter in which Wall Street is vitally interested is the silver issue and its inflationary possibilities. Mr. Roosevelt is reputed to be opposed to the Dies bill, to which the silver wagon has been attached, but many of those in the financial district believe it might be passed even over a veto. The fact that the inflation issue has been tied to an agaricultural measure is thought to place the chief executive in a tough spot. CHICAGO FRUIT MARKET By United Press CHICAGO, April 16.—Applrs Mich:sran Baldwins. $1.50 bushel. Carrots- Ilhnojs. 50c bushel. Spinach—Texas [email protected] bushel; Illinois. 50® 85c. Beans —Southern green, $1.75® 2.75; wax s2® 3. Cucumbers—-Cen-tral western hothouse. $2®2.50. Tomatoes —Florida, $1.50® 275 lug box. Sweet po'atoes—Tennessee. $1.60® 1.75; Indiana. s2®> 2.15. Mushrooms—lllinois, 17%®30c lb. cartons. Asparagus—California $2.25®) 3.25. Leaf lettuce —Illinois hothouse 40c ten-lb. basket. Onion market 'SO-lb. sacks): Western Valencias, 90c® $1.15. Michigan yellows. 70® 75c; Orgeno yellows. 90c® $1; central western yellows, 50® 70c, Texas yellow $1.50® 1.55; Texas whites. $3 (it 2.10.

Safe Water delivered day and night costs less than anything else you buy Indianapolis Water Cos

ARE YOUR “4TH” LIBERTY BONDS CALLED? Invest the proceeds of your called 4th Liberty Bonds in shares whuh have paid dividends regularly for 43 years. Fletcher Avenue Saving & Loan Association shares offer a sound, long time investment secured by first mortgage* on real estate only. FLETCHER AVENUE SAVING & LOAN ASSN. 10 E. Market St. I nrfianapnlift Indians