Indianapolis Times, Volume 45, Number 297, Indianapolis, Marion County, 23 April 1934 — Page 11

APRIL 23, 1934

UNEVEN SALES MARK TRADING IN HOG MARKET * Underweights Steady to 5 Cents Higher: Others Lower. Two-way trading range developed in the hog market at the Union Stockyards this morning. Majority of classes were mostly 5 to 10 cents lower, while underweights held steady to around 5 cents higher than Saturday’s average. Initial demand was slightly weaker and receipts were heavy. Bulk of 160 to 325 pounds, sold at $3 90 to $4. Several better grade porkers were reported selling at $4 05. Small slaughter kinds, weighing from 130 to 160 pounds, brought $3.20 to $3 70, while lighter grades scaling 100 to 130 pounds, cashed in at $2.25 to $3. Receipts were estimated at 8.000; holdovers. 233. With nothing on hand to test top prices in the cattle market, practi- 1 cally all classes continued stationary at the previous figures. Early trading was scarce. Receipts numbered 600. Veal market showed little change, salable at $6.50 down. Receipts were 600. Early lamb sales were scarce and mostly unchanged, with supply consisting of shorn grades salable at $8.50 down. Receipts were 500. Asking on hogs at Chicago was fully steady at Friday s average. ; Few initial bids were weak to around 10 cents lower at $3.90 down. Receipts were estimated at 35.000, including 13,000 directs; holdovers, 1.000. Cattle receipts, 16.000; calves, 2000; market weak. Sheep receipts, 8.000; market strong. HOGS April. Bulk. Top. j 17 $3 R 5 $3.90 8.000 I 1R 3 9.S 4 00 7.000 i lo! 4 004/ 4.05 4.10 6 000 20 4 004/ 4 05 4.05 8.000 ; 21 4 054/ 4.10 4 10 2.000 1 23. 3 904/ 4 00 4 05 8.090 Market, hish/T. 1140-1601 Good and rhoicr $ 3.454/; 3.70 Lieht Weights—-<l6o-1801 Good and choice ... 305 • 180-200) Good and choice 3.05 Medium Weights—- • 200-2201 Good and choice 4.004/ 4.05 ■ 200-250/ Good and choice 4 10 Heavy Weißhts — • 250-200) Good and choice 4 054/ 4 10 )290-350i Good and choice 380" t 4.00 Packing 8018 - )350 down! Good 3 154? 340 j 1250 up) Good 3.004/ 3.-5 tAll weißhtsi Medium 2 854/ 3.15 Slaiißhter PiR" • 100-130) Good and choice 2 254/ 3.00 CATTLE Receipts, OOP; market, steady. (1.050-1.100) Good and choice $ 6.504? 7.75 Common and medium 4.504/ 6.50 (1.100-1.500)- / Good and choire 6.504/ 800 Common and medium 4 754/. 6.50 (675.750• - Good and choice ... 5.254/ 6.50 Common and medium 3 004/ 5.25 1750-900• Good and medium 4.754/ 600 Common and medium 2.754/ 4.75 —Cows— Good 3.504? 4.50 Common and medium 2.754/ 3.50 Low cutler and medium 1.754/ 2 75 Bolls • yearlings excluded' Good ibeef steers' 3 004/ 3 75 Cutter, common and medium . 1.754/ 3.00 VEALERS Receipts, 600; market, lower. Good Rnd choice $ 6.004? 6.50 i Medium 4 004/ 6.00 ; Cull a id common 2.504/ 4.00 , Calves— Good and choice ... 3 504/ 5.00 | Common and medium 2.004/ 350 i Feeder and S’ocker CattleGood and choice 4.254/ 5.75 | Common and medium 3.004 c 4.25 i (ROO-I.SOOi Good and choice . 4.254/ 5.75 I Common and medium 3.004/ 426 SHEEP AND LAMPS Receipts. 500; market, steady; shorn basis. 100 lb down* Good and choice $ 8 004/ 8.50 • 00-110 lb i Good and rhoice 7.754/ 8.25 • 500 lbs. downt Com. and med. 7.004/. 8.00 —Ewes— Good and choice .. . 3.00"> 4.00 Common and medium . 1.754? 3.00 Other Livestock lßy United Press i CHICAGO. April 23—Hors—Receipts. 33.000 including 15.000 directs; active 5 to ldcents lower (hail Friday: 170-280 lbs., $3,804/3.90; top. $3 95; 290-325 lbs.. $3,654/ 3 80: lißht lights. $3,404/3.80; good pigs. $2.254i.3; packing sows $34/3 15; light lights. 140-160 lbs . good and choir.'. $3 40 n 3.80: lightweight. 160-200 lbs., good and choice, 93.65 3.95. medium weights. 200250 lbs., good and choice. $3.754i3.95: heavyweights. 250-350 lbs.. good and choice. $3,604/3.90: packing sows. 275-550 lbs., medium and choice, $2,854/3.35: slaughter pigs. 100-130 lbs . Rood and rhoice, $2,254/3.40. Cal tie—Receipts. 16.000. Calves— Receipts. 200. Two-way market on steers: medium and weighty steers, t'rong to shade higher in active market with light offerings weak to 25 cents, mostly 10 to 15 cents liwer; light steers and vearlings. medium and pood, predominating in run: early top weighty steers. $8 10: some held higher: several loads. S7 •• 8. mostly light cattle. $5 254/ 6 50; other killers, uneven: cows and heifers. steadv to 15 cents lower. Slaughter cattle and vealers: Steers. 5.50-90 lbs., good and choice. $5.75u 7.75; 900-1 100 lbs., good and choice. $5,754/7.75: 1.100-1.300 lbs. Rood and choice. $6 504/8 15: 1.3001.500 lbs., good and choice, $74/8 25: 5501 300 lbs . common and medium. $4 50"/ 675 heifers. 550-750 lbs . good and choice. *5.254/6.35; common and medium. $3 50'/ 5 25. cows. good. $3,754/ 4.75; common and medium. $2 854/3.75: low cutters and cutter. $24/2 85: bulls nearlings excluded', good beef. *3 354/3.75; cutters, common and medium. *3 •/ 3 60: vealers. good and choice $56.75; medium. $44/5: cull and common. S3 •/4 Stocker and feeder cattle: Steers. 550-1.050 lbs . good and choice. $4,754/6: common and med.uin. *3.504/5. Sheep Receipts. 8.000: fat lambs in broad demand: indications 15 to 25 cents and more higher: asking prices abore slo' few merely good lambs sold errlv • $0 85 first California's on sale; sheep iteadv. Slaughter sheep nnd lambs: Limbs. 90 lbs. down, good and choice. *9.854/10.10: common and medium. $7.25// 9 85: 90-98 'bs . good and choice. $9,754/ 10: ewes. 90-150 lbs. good and choice. $3.75 ft 5 50: all weights common and medium. *34? 4 50. LAFAYETTE. April 23 - Hogs Market S'eariv to 10c lower. 250 'o 300 lbs.. $3.85: 300 to 325 lbs . $3 60 : 200-250 lbs., $3 80; 170-200 lbs . $3 70; 160 to 170 lbs . S3 60; 150 to 160 lbs *3 40; 140 to 150 lbs. *3.15. 130-140 lbs.. $2 90; 100-130 lbs . *1.904/2.65. rnuphs, $3 down; tep calves. $5; top lambs, *B. FT WAYNE. April 23 —Hogs—loc to 15c lewer; 250 to 300 lbs.. *3.95: 200 to 250 ibs.. *3 85. 180 :o 200 lbs.. $3.80; 160-180 lbs . *2 80 : 300-3.55, 150-160 lbs. *3 35: 140fSO lbs. $3 10; 130-140 lbs. *2 85: 120-130 lbs *2 3s: 100-120 lbs.. $2; roughs, *2.75 stags. $1.50; calves, $6; lambs. $9.50 down CINCINNATI. April 2.7.-~ Hogs—Receipts. 5.000. including 1.367 direct and through: holdover, none, butchers scaling from 160 lbs. up 5c higher than Friday; Saturday top and hulk; 160-180 lbs., $4 15. lighter weight* and packing sows, steadv: better 140-160 ibs $3 25 /3 75, 100-130 lbs. $2 25 4/3: good packing rows. $2 50'-/ 275 Cattle Receipts. 1.350: calves, receipts. 550: compared with Friday steers from around 900 lbs up. cows and bulls steady: handyweight butcher cattle w. ak to 25c off: most hetlers fiat. 25c lower, bulk slaughter steers and heifers. *54r6: odd lots steers to $6 50 and small lots he’d above $6.65. fat cows $3,254/ 4 50: low cutter and cutters. $1.75 / 3.25. bulk sausage bulls. $3.; 3 85: calves, weak to 50c lower; bulk good and choice. $5 504/6 50; others down from $5. Sheep—Receipts. 550; direct and through 400: generally steady with Friday on meager supply offered early: few lQts spring lambs. $lO 50*i 12: odd lots shorn old crop lamb; from $7 50 down; choice light weights quotable to $8 and in the wool to $9 or above; few shorn fat ewes, from $3.50 down. B •/ 73mi* Special LOUISVILLE. April 23 —Cattle— Receipts. 700: quality not so desirable as last Monday; market, active, strong to 25c higher on slaughter classes with rows, bulls and medium and lower grade steers and heifers showing most upturn: bulk, common to medium, steers and heifers. *4 254/5.50; better finished kinds to $6 and above: bulk beef cows nnd bulls. *3 25 4/4: good smooth heifer type cows to *4.50. bulk low cutters and cutters. $1 504/2 75: Stockers slow, mostly steady; bulk better light Hereford*. *4 754/5 25; common to mrditim grade natives. *3-/4 Calves—Receipts. 600: steady; bulk better vealers. 55 4/5 50; strictly choice $6: medium and lower trades. *4 down. Hogs-- Rece:pts. 1 600: market. 5c lower than Saturday, t/r steadv with last Friday: 170-240 lbs., at a top and bulk of *3 90 : 213-270 lbs.. $3 55; 275 ibs UP. $3 20 145-165 lbs., *3 20: 120j 0 lbs, *195: sows, *195. Sheep—Receipts Iso steadv. bulk better spring lambs: lambs *lO4/ 10 50: few choice lightweights. quotable higher: medium to good wooled lambs. *74/8; bulk fat wooled ewes. s3#r 4; clipped sheep subject to $1 or more discount.

Business Activity Hits Best Level Since 1932

Steel Mill Operations Rise to 52 Per Cent of Capacity. BY RICHARD L. C,RIDLEY United Press Financial Editor WASHINGTON. April 23. Mounting bank deposits and loans, growing employment and further advances in industrial barometers indicated last week continuance of the business upswing that started early this year. Practically all major trade indices showed business activity at its highest levels in two years except for the short-lived speculative bulge a year ago. Steel mill operations last week rose to 52 per cent of capacity, the highest rate since mid-August; store sales ranged from 10 to 100 per eent above a year ago; automobile sales were more than double and business in general was estimated at 22 per cent better than last year. Although administration officials refuse to discuss the economic situation publicly, they are privately more optimistic than since the start of the Roosevelt term. Many see further improvement ahead. Electrical equipments were higher on improved business and better earnings. American Telephone rose on a favorable earnings report. It was one of the leaders of the week. Farm equipments fell off when wheat broke but later recovered nearly all the losses. Copper shares firmed on belief the price would be boosted to 9 cents a pound for the metal after the code was accepted. Rubber shares made a creditable showing, featured by United States Rubber which made anew high for the year. Wet stocks rose on improved business for the leading companies. United States Industrial Alcohol reported business running 75 per cent ahead of 1933. Dairy issues strengthened on prospects of a rise in milk in New York.

DOMESTIC CORN GRIND AT 14.528.135 BUSHELS Low Prices of Foreign Starches Affect U. S. Movements. lit / Tinu s Special New York. April 23.—A total domestic corn grind of 14,528.135 bushels for the first quarter of 1034 is reported by eleven corn refiners, which compares with 15.860.279 bushels for the same period in 1933 and 14.733.054 bushels in 1932. As the grind for the preceding quarter was 18.378.912 bushels, an all-time record for the industry. April grind, according to the Corn Industries Research Foundation, is on a more satisfactory basis, although movements of products of corn into consumption are being somewhat unfavorably affected by the current low prices of cane sugar as well as by heavy importations of tapioca and other foreign starches which sell in competition with some of the products of the industry. Produce Markets Dellverrd in Indianapolis Prices-Hens, lie. Leghorn hens. Bc. Leghorn spring-pr-stags. 6c; large springer-stags. 9c; cocks 5 lbs. and over 6c: under 5 lbs.. 4c; ducks. lull feathered and fat. 4*/a lbs. and over 7c: geese. sc; voung guineas. to 3 lbs. 30c: old guineas. 20c. No. 1 strictlv fresh country run eggs, loss off 13c each full rase must weigh 5 lbs. gross; a deduction of 10c a opund for each pound under 55 lbs. will be made. Butter—No. l. 2555 26c. No. 2 234i24c; butterfat. 21c.— Quoted bv Wadlev. (By United Press* NEW YORK. April 23.—Potatoes—Easier; Long Island. $1,904/3.25 barrel: southern, 53.1045 5.25 barrel; Maine $1.1045 3.50 barrel; Idaho. $2,104/2.20 sack: Bermuda. s4'u 4.50 barrel: Canada. $1.9545 2 barrel. Sweet potatoes—Quiet; Jersev baskets. 50c4;51.75: southern baskets. 40c4j$l.fi0. Flour—Firm: springs, patent. $6.054/6.30 barrel. Pork -Steady; mess. $20.25 barrel . Lard—Firm; middle west spot. $4.50454.60 per 100 lbs. Dressed poultrv—Firm: turkevs. 154/25'2c: chickens. 84/ 28c: broilers. 204/28c: capons. 204/32c: fowls. 164/20c; Long Island ducks. 15'24/16c. Live poultry—Quiet: geese. 645 7c: turkeys. 144/20c: roosters. 9c; ducks. Bul2c; fowls. 154/18c; chickens. 94/11c: capons. 22c: broiler. 124/23c. Cheese Quiet: state whole milk, fancy to specials, 184/19c; young Americas, 12 3 4 4/ 13c. CLEVELAND. April 23.—Butter—Market, firm: extras. 26'-c: standards. 26c. Eggs— Market, weak: extras. 15c: current receipts. 14' 2C. Poultry—Market barely steady: colored fowls. 4' 2 lbs. and up. 17c: colored fowls, medium. 16c: Leghorn fowls. 13c: broilers, colored. 25c: old roosters. 10c: ducks, white. 5'2 lbs. and up. 12c; broilers, fancy Rock, 27c: broilers. Leghorn. 23c; stags. 14c. Potatoes—Maine, mostly $2.15 4/2.25 per 100-lb. sack: Idaho. $1,804/1.90; New York and Ohio best. $1.75. CHICAGO. April 21.—Eggs Market steady; receipts. 37.168 cases: extra firsts. 16 3 .ic: fresh graded firsts. 16'e: current receipts. 15c: dirties. 13 3 <c: checks. 13'<c. Butter- Market seadv: receipts. 7.165 tubs: extra firsts 190-91 1 score/, 21' 1 44/ 22c: firsts (88-80'2 scorei. 21'Uu 21 1 2 c; seconds. iB6-87’2 score'. extras, 192 score!. 22'<c; specials. 22 ; '4/23'40; standards. 22' 4 c. Poultry—Market steady: receipts. 1 car. 5 trucks: lieavv hens. H'/C: old roosters. S'.-c; springers 24e: geese. 8c; broilers. 22c: capons. 22c: turkevs. 20c: frvers. 24c: leghorns. 14'2c: old ducks, 114514 c. Cheese Twins. ll 3 44/12c: longhorns. 12'* 512'2c: daisies. 12'.,4/12'2C. Potatoes Old stock, supply liberal: demand and trading slow, market steady; Idaho russets. 3 care, sl.s2'j; Oregon russets. 3 cars. $1.45: Colorado McClures. 2 cars, si.4o: 2 cars. SI 42 ! 2: 1 car. $1.45; 1 car. $1.52'2: Nebraska triumphs, partly graded. 1 car. SI.IP. Minnesota and North Dakota earlv Ohio's. 1 car. $1.10: 1 car. $1.15; certified seed. 1 ear. $1.30; 1 ear. 51.35. New Stork -Supply moderate: demand and trading light: market steady: sales to jobbers. sacks per hundredweight. Texas bliss triumphs. $3. Shipments. 774; arrivals. 8; on track. 354 On Commission Row April 23 —Fruits— Apples—New York Baldwins, fancy. $1.65 up: fancy Staymans. $2.25: fancy Winesaps, $2.50. Oranges California Sunkist. $3 2545 4.25: Floridas, $3.75'./4 Lemgns—Sunkist. $5.50. Grapefruit—Arizona seedless. 645-70s. $3 473 50; Florida. $3 5045 4. Strawberries Louisiana. 24-pt. crate. $2 75: Alabama, 24-qt. crate. $4.50. Melons—Argentina Honevdews. $2.25. Pears—Calavos. $3.50 per box Bananas—Per pound. 5 cents. —Vegetables— Cabbage- New Texas. $1.35 per halfcrate. Florida red. $3 per hamper. Celery-Florida. $3 a crate: mammoth bunch. 85c; medium bunch. 45c: hearts, dozen bunch, $1.35 Onions $125 red. *1.15: Idaho. Spanish. $135. Potatoes—Northern round white. 100-lb. bag. $1 85. Red River Ohios. $1.90: Maine Green Mountain. $2 25; Colorado McClures. $2.10: Idaho Russets. $2: Wyoming Triumphs. 50-lb. bag. *1; New Texas Triumphs *1.75. | Sweet Potatoes—lndiana Jerseys, per ! bushel. $2: Porto Ricans. $1 90 1 —California select, crate. $3 45 1 3.15. Beans—Round, strir.gless. *3' lima. $4 50. Beets—New Texas. 3-dozen crate. $2: 1 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. *1 10 lettuce—Hot house. 15-lb. basket. $1 50; Iceberg best $4 501i4.75 a crate. Peas—2 B-lb. hamper. $2 25 Radishes—Hot house buttons. 60c a do-en. Rhubarb—California. 20-!b. box. *1 75. Spinach—New Texas. 75c per bushel. Tomatoes Repacked. 10-lb. carton. $1 50 selected cellophane wrapped, *1.75. original Mexican. 30-lb. lug. *3 50. CHICAGO FRI IT MARKET •Bv Or and Press 1 CHICAGO April Jl. Apples—Michigan Baldwins. $1 50 bu. Carrots—lllinois. 50*/ 55c bu. Spinach—Texas. $ 504i 1 bu. Beans Southern green. *24/ 2 50; wax. S2 50<</3. Cucumbers— Central western hothouse. *1 75 <1 2.25 <2 doi>. Tomatoes Florida. *L75s/3 lug box Sweet Potatoes— Tennessee. *1654/175. Mushrooms inois. 20 /1 23' -c. Asparagus Caliiornia, $2 5045 4. Leal Lettuce —Illinois hothouse. 604r75c (10 lbL Onion Market ilO lb. sacks I— Western Valencias. sl4/1.35; Michigan yellows. 90c; Texas yellows. $191.25; Te|** whites. *1.5091.60.

INDUSTRIAL OUTPUT RISES 34 PER CENT North Central Area Shows Largest Production. By Timrn Special NEW YORK. April 23.—Industrial plants of virtually every’ kind are producing more goods and are using much more energy than at this time a year ago. Electrical World says in its issue today. Reports received by that paper from approximately 3.800 large- manufacturing plants in various industries and scattered throughout the country, show an increase of 34 per cent in March of this year over 1933. This statement is based on returns accounting for more than a billion and a quarter kiiowatt-hours, equivalent to half the total energy sold by public utilities to wholesale consumers. The year's increase is coasiderably greater than in other recent months, contrasting with 20 per cent in December, 19 in January, and 29 in February. The increase over March, 1932, was 15 per cent. “The gains over the month in 1933 run through all branches of manufacturing except food products, and that industry maintained a relatively high level throughout the depression. Improvements are indicated in capital goods industries by higher figures in iron, metal-work-ing and stone, not only far above last year's March, but also over January of this year. Noteworthy advances over the shorter as well as the longer interval in automobiles, rubber and leather products and textiles are evidence of continued expansion in consumer goods. Hit most severely a year ago. the north central region shows the highest rate of gain, 48 per cent, and a loss, after adjustment, of only 9 per cent from February, while the unadjusted total shows a gain 'of 7 per cent over February. Automobiles and rubber gained even more in this region than nationally, compared with 1933; iron and steel increased 64 per cent and metal working almost 90 per cent. Among consumer goods leather advanced 39 and textiles 40 per cent. Foods were virtually at last year's levels.

Bright Spots

Texas Gulf Sulphur in March quarter •earned 56 cents a share against 38 cents a share for the first quarter in 1933. V. S. Hoffman Machinery and subsidiaries report earnings of 5 cents a share for the first quarter of the year against a net loss of $158,972 in first quarter of 1933. Loose Wiles Biscuit and subsidiaries first quarter ending Marrh shows earnings of 67 cents a share after charges and preferred dividend were paid, against profit of 58 cents a share for first quarter of last year. John Thompson Company March quarter reports net loss of $114,240 after all charges against net loss of $288,547 in first quarter in 1933. General Refaetories for the last twelve months ending March 31 report earnings of $1.58 a share. President Roosevelt has requested Railroad Co-ordinator Eastman to arrange settlement of the railway labor dispute to provide for a six months' extension of the 10 per cent w'age reduction and allocation of increased rail earnings to maintenance work for re-employment of rail workers. PAY RISE ANNOUNCED 1 Illinois Bell Telephone Resumes Progressive Wage Increases. By Times Special CHICAGO. April 23.—The Illinois Bell' Telephone Company has announced it will resume progressive pay increases dropped in 1931. The increases will affect 14,000 employes and add approximately $1,000,000 a year to the pay roll. Several other companies of the Bell system throughout the country are working on salary increases, it is reported. Upper management and supervisory groups in the Illinois j company will not be affected by the I rise, but upward revisions are being made for certain of these classes. Ward Flans New Store By Times Special SIOUX CITY, la.. April 23.—Construction of anew SIOO,OOO store here by Montgomery Ward and Company will begin next month, it has been announced. Opening will be held sometime during the latter part of the year. Cadillac Demand Strong By Times Special DETROIT. Mich.. April 23.—Sales orders for 4.000 cars are on file at the factory of the Cadillac Motor Car Company, and production schedules are being constantly re- ; vised to meet the demand, according to announcement of J. C. Chick. , sales manager. S2OO CASH. $155 IN CLOTHING IS STOLEN Tourists’ Car Is Looted; Other Tarked Autos Are Raided. A suitcase, containing S2OO in cash and clothing valued at $155, was reported stolen last night from the parked car of W. P. Manson. Salt Lake City, and A. R. Taylor. Washington in the 400 block, north Senate avenue. Other autoists robbed over the week-end and the amount of loot ! taken follow: John E. McManamon, 2922 North Talbott street, $75; Y. L. Johns, 719 West drive. Woodruff Place, ssl; Charles McNarny, Wabash, Ind„ $100; Paul P. Baus, | 26 North DeQviincy street. $75; Dave Payton, 106 Green street, sls; Robert J. Porterfield, 5420 College avenue, $25.50. In the Air Weather conditions at 9 a. m.: South southwest wind, 21 miles an hour; temperature. 61; barometric pressure, 29.87 at sea level; general conditions, clear; ceiling, unlimited; visibility, ten miles. Funeral for Wartime Flier / ■ I niled Press T TTSBURGH. April 23 —Funeral '•s.j't's will be held at 4 p. m„ today for Colonel William Thaw 11, 40, wartime commander of the Lafayette Escadrille and son of the late Benjamin Thaw Sr.. Pittsburgh railway and coke magnate. %

THE INDIANAPOLIS TIMES

RAGGED SELLING WAVE WEAKENS GRAIN FUTURES Wheat, Rye Drop Sharply; Cotton Values Show Decline. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. April 23.—Scattered liquidation was resumed by the general at the opening of the Board of Trade today and prices receded. Wheat was ’i to % cent lower, corn was off to -It cent. Oats were % to cent lower, and rye fell % to l' cents. Weakness in cotton also was depressing to the trade while stocks were irregular. Liverpool wheat was sharply lower, due mainly to a break in sterling. Saturday's silver conference at Washington failed to clear the atmosphere as' far as the grain trade was concerned and the nervousness which has characterized the market for the past fortnight continued. Chicago Futures Range ' —April 23 Wheat— Prev. High. Low. 10:60. close. Mav 76’/ 2 .75*4 .76'., .77', July 76'2 .75*4 .:76’a .77 Sept 78 .76*4 77% .78' 8 Corn— Mav 45 .44*8 .44*i .45 s * July 47*8 .47 .47*4 .47*8 Sept .49*8 .48V* .49'a .49*4 Oats— May 27 7 a .27'/a .27*?, .28% July 28*8 .28 .28*4 .28% Sept 29'4 .29 .29 ,29* 8 RyeMay 52*i .52'4 .52*4 .53*s July 53 7 * .53Vi .53*4 .53*4 Sept 55% .55% .55V4 .56* 8 Barley— May .. .37*; July .. .39',4 .39' 4 Sept .. .40’ 2

Cash Grain

Local IVaßon Wheat City grain elevators are. paying 66 cents tor No. 2 soft red wneat utner grade? on their merits. (By United Press) CHICAGO. April 21.—Wheat—None. Corn - No. 2, yellow. 48',2C: No. 2 yelio/y. oM, 48:*c: No. 3 yellow. 48@48%c. Oats—No. 2 white. 31 %c for 33% lbs.: No. 3 white. 30%c; No. 4 white. 10 J 4 ®3oc. Bye—None. Barley— 62'5 75c; quotable. 40<@80c! Timothy —56,254/6.50. Clover Seed —$114/1125 Cash Provisions: Lard—s 6; loose. $6; leaf. $6: S. belies. $7.87. TOLEDO. April 21.—Grain close: (Grain in elevators, transit billingi: WheatNo. 2 red. 80"/81c. Corn—No. 2 yellow. 51%®52%c. Oats—No. 2 white. 34% 4/ 35%c. Rye—No. 2. 594/60C. (Track prices 28%c rate). Wheat—No. 1 red, 76@76%c; No. 2 red. 754?76c. Corn—No. 2 yellow. 474?48c; No. 3 yellow. 464747 c; No. 4 yellow 4547 46c. Oats—No. 2 white. 314733 c: No 3 white. 30%@32%c. Seed close: Clover —Cash. $8.25. Alsike—Cash. 58.50. CHICAGO PRIMARY RECEIPTS —April 21— —Bushels— Todav. Last week. Wheat. 320.000 345,000 Corn 276.000 400.000 Oats 86,000 125.000 LOADINGS OF REVENUE FREIGHT AROVE 1933 Week’s Total 20,950 Cars Above Previous Seven Days. Bp Times Special CHICAGO. April 23.—Loadings of revenue freight in the week ended April 14 totaled 578.837 cars, an increase of 20,950 cars over the previous week and 80.655 cars above the like 1933 week, according to the American Railway Association. Less-than-carlot merchandise decreased 1,333 cars during the week to 165,707 cars. The figure was 4.918 cars above the like 1933 week, however. Coal loadings totaled 36.349 cars, an increase of 7,409 over thepreceding week, and 15,890 cars above the like 1933 week. Total loadings from January 1 through April 14 were 8,682.372 against 7,239,538 cars in the like 1933 period. MARCH PROFIT SHOWN Budd Manufacturing Firm Reports Huge Sales Increase. Bp Times Special NEW YORK. April 23.—The Edward G. Budd Manufacturing Company reports a net loss for the first quarter of 1934 of $15,457.51 after deducting all charges, including depreciation, interest and taxes. This compares with a loss of $397,488.20 for the first quarter of the previous year. Sales for the month of April are running 40 per cent in excess of the average monthly shipments for the first quarter of this year. A profit was earned on operations for the month of March and the company’s current operations are on a profitable basis. N. Y. Coffee. Sugar Futures COFFEE —April 21— . Close. Santos March n.47 May m. 79 July 10.94 September 11.29 December 11.40 Rio January 8.65 March 8.70 May 8.2a July 8.47 September 8.57 December 8.64 SUGAR High. Low. Close January 160 March 1.65 1.64 1.64 Mav 1.40 1.39 1.40 July 1.47 1.46 1.47 September 1.53 1.52 1.53 December 1.59 1.58 1.58 In the Cotton Markets —April 21— CHICAGO High. Low. Close. January 12.10 12.08 12.08 March 12.22 12.15 12.15 Mav 11.71 11.68 11.71 July 11 83 11.78 11.79 October 11.37 11.31 11.32 December 12.05 12.02 12.02 NEW YORK January 12.04 11.87 11.99 March 12.10 11.58 11.59 Julv 11.74 11.67 11.67 October 11.88 11.83 11.83 December 11.38 11.32 11.35 NEW ORLEANS January 11.99 11.35 11.98 Mav 11.65 11.61 11.61 Juiv 11.73 11.68 11.68 October 11.85 11.81 1182 December 11.35 11.31 11.31 Retail Coal Prices The following prices represent quotations from ieadmz Indianapolis coal dealers. A cash discount of 2a cents per ton is allowed Domestic Retail Priees 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 8.25 Focahontas forked lump 9.25 Pocahontas mine run 7.76 New River smokeless 8 7' West Virginia lump ... - . West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and tl a ton for coal carried to

New York Stocks )Bv Abbott Hoppin & Cos.)

AVERAGE STOCK TRICES FOR SATURDAY Net High. Low. Close, change Thirty industrials 10R.94 106.05 106.34 —.21 Twenty rails 51.05 50.47 50.68 .33 Twenty utilities 26.93 26.62 26.71 —.19 Forty bonds 95.20 .01 Ten first rails 99.84 —.03 Ten second rails 85.00 +.14 Ten utilities 97.69 —.06 Ten industrials 98.29 —.06 -Off. -Up.

—April 23 Prev. ; Oils— High. Low. 10:30. Close. ; Aremada . 53 Atl Rfg 28*8 28*4 Barnsdall . . 9’a Consol Oil 13 12 7 s 12% 12*4 Cont of Del 22*a 22* 2 Houston tnew) 5 s'a Mid Con Pet 13 7 a 13% Ohio Oil 13*8 13'2 Pet Corp 12 7 a Phillips Pet 20’s 20'2 Plymouth Oil .... ... . 13*4 Pure Oil 12* 4 12% ! Roval Dutch 35 Sbd Oil 37Vi 37*4 I Shell Un 9 7 s j Skelley Oil 11 10 % Soc Vac 17% 17'.a S O of Cal 37 1 b 36*4 I S O of Kan ... . 41 S O of N J 46'4 46's I Sun Oil 62 Texas Corp 27 1 2 27 s , Tidewater Assn 14*4 14'a | Un Oil of Cal .... ... 17% 17*s j Steels— Am Roll Mills 24'i 24', Beth Steel 43 43% Bvers AM A* • 2 ® ! Col F & Iron .. $. ... 6 1 2 . I Cruc Steel ... • ■ 31 % Gulf Sts Steel 39 j Ludlum Steel .... ... ... 16*4 ! Natl .Steel 49 Otis Steel ... • 6% 6% Rep I & Steel 22 7 , 22' 4 22'* 22*s ! Rep I fz St pfd 61 U S Pipe & Fdy 29 1 U S Steel 52’a 52'2 . U S Steel pfd 96*, I Warren Bros .. ••• ••• 11% Youngstn S & T .. ... ••• 28'2 | Motors — Auburn 41' 2 41 % 41'2 42 | Chrysler 53Va 53*s 53>s 54's Gen Motors . 38*8 38* 4 38*4 39 Gen Motors pfd ... ... • ■ 100*8 1 Graham Mot ... • 3’B 1 Hudson ... 20 20% Hupp ... 5 Mack Truck ... . . 32’ 4 Nash 23% 23’a 23*8 24 Packard 5% 5% 5% 5*4 Reo .. ... 4*a Studebaker 6*4 6*2 6% 6*4 Yellow Truck 5% s:s Motor Access — Bendix 19'4 Bohn Alum 63*2 Borg Warner.... . . 25 7 a 26 Briggs 18 17*4 17% 17*4 Budd Wheel 4% 4% Eaton Mfg 21 Vi 21* g Elec Auto Lite . .. ... 27% 27% Houdaille 'A) ... . 6 Mullins Mfg 15'/2 15% Mullins Mfg pfd 45% Murray Body 9% Stew Warner 9' 2 Timken Roll ... 35 35*8 Timken Det Axel 8',4 8% Mining— Alaska Jun 20Vi 20% 20% 20*4 Am Metals • •• 25 25 7 s Am Smelt ... 41 1 2 43* 4 Anaconda 17 16% Cal & Hecla . .. . . . 5% Cerro de Pasco . 36*, 36 36*4 36% Dome Mines ... 3814 38 38'/8 38'4 Granby 11*4 Gt Nor ore . .. ... 13% 13* 4 Homestake Min 374 Howe Sound 50' a 50*2 Ins Copper 5*4 s*B Int Nickel ..... 28 27 7 i 28 28V* Int Silver ... ... 38 Isl Creek Coal .. . . 27 7 , Kennecott Cop . 22% 22Va 22*4 22*8 Mclntyre Mine.. •• . ... . 4714 Noranda Cop 42% 42* 4 Park Utah .... 4% 4*4 4*B 4% Phelps Dodge . . . . 18 17 7 a St Joe Lead . . 23'/i U S Smelters ..124 123*2 124 124 Vanadium 27 Amusements— Crosley Radio .... ... ... 14*, Fox Thea 16' 2 Loews Inc .. 34*4 34% Radio Corp .... 8% B'4 B', 8% RKO 3% 3% | Warner Bros 7% 7% Tobaccos— Am Snuff ... . 56% Am Tob A 71 71 *2 Am Tob B ... 7314 73% Gen Cigars .. ... 36 Ligg & Myers B .. ... . 96% Lorillard .. ... 18% 18*2 Reynolds Tob B. 44% 44% Rails— Atchison 70*4 71* 8 B & O 29% 30 Can Pac ... 16% 16-’s Ch &■ .Ohio ... 47% 47*2 Chi & Gt W 4% Chi <te Gt, W pfd 11% C M & St P 6"4 CM& St P pfd 10*4 11% Chi NW ~ 13% 13% Chi N W pfd 25*4 Deia & Hud 67 Del Lac & W 29 28 % Erie 23 V 4 23 % Erie pfd . 27% Gt North pfd 29*8 111 Central 33 K C Sou 19% 19*4 19*4 19% Lehigh Valley ... 19 Lou & Nash 62% MK&T 12% 12% M K & T pfd 31*4 Mo Pac pfd ...... . • ■ . • • 8 N Y Cent 35 34 7 4 34% 35'% N Y C & St L 25 7 4 25*4 25*4 25% NVC& SL pfd 40*., 40% 40% 41 N Y New H 19*8 19*4 Norf & Wes ... . . 180% Nor Pac 35*4 34% 34% 35% Penn R R ... 35% 35% Reading . . 53 Sou Pac 28 27% 27% 28% Sou R R 33% 33*2 33% 33% Sou R R pfd ... 40% 39% 39% 39*2 Union Pac ... ... 132 West Madv 15% Equipments— Allis Chaim ... 20*4 20% Am Br Shoe ... 32% . Am Car & Fdy 28% Am Loco ... 34 34 Am Loco pfd .... ... ••• 70 Am Mach & F 17 Am Stl Fdy 20% Bald Lcco 14% 14% Bald Loco pfd .... ... . • 64% Burroighs 16 Case J I • • • • 71% Cater Tract 33*4 33% 33% 33% Deere & Cos ... . • • 29% Elec Stor Bat 40 Foster Wheeler ... 19% Gen Am Tank C . . 41*4 Gen Elec 23% 23*4 23*4 23% Ingsol Rand 66% Int Bus Mach ... Int Harvester . . . 42% 42*4 Natl Cash Reg. 19% 13*4 18*s 19% Pullman Inc 58 58 Rem Rand ... 12% 12% Und Elliot 45% West Air B . ■ 33 33 Westingh Elec . 41 40% 40% 41 Wortington Pmp 28% 28% Utilities — Am & For Pwr 10% Am Power <fe Lit 9*4 AT&T 122*2 Am Wat Wks 21 % 21% Brook Un Gas .... ... . 69 1 % Col Gas & Elec. .. 16 16% Col G & E pfd . . . . 75 Com & Sou .... 2% 2*4 2*4 2% Consol Gas . 39% 38% 38% 39% Elec Pwr & Lit 7% 7% E P & L Dfd 17% Int Hydro Elec. .. Int, TANARUS& T 14% 14% Lou G & E A 18% Nat Pwr & Lit . • 12 12 North Amer ... 20 19% 19% 19■, Pac G & E 29% Peoples Gas 38 % Postal Tel ofd 24% Pub Serv N J 39 39% So Cal Edison 19 19% •Std Gas 13 13% Std Gas pfd 14% Stone & Webster . - • • , • , 9 % United Corn •••* 6 5 s 6*2 6*2 *> l 2 Un Gas Imn ..f 16*4 16% Ut Pwr & Lit A 4 4 Western Union 54% 56 Rubbers— Firestone . ••• • 22% Goodrich 17', 17 17 17 Goodyear 37 36% 36% 36% Kelly Spring • 3*4 3% U S Rubber . 23*4 23*4 23% 23% U S Rubber pfd 59*, 59*4 59% 59% Miscellaneous— Am Bank rfote.. 23*4 23 23 23 Am Can ... . • • 104 Anchor Cap . . . . 23 * Brklvn Man Tr . 33% 38% 38% 39% Conti Can 82% 83% Crown Cork 33 33% Curtis Pub .... ... 28 28*4 Curtis Pub pfd .... ... ... 79% Eastman Kodak 95% Gillette 12 12 Glidden 28 27*4 27*4 28 Inter Rapid Tr.. .. ... 10% 10% Owens Bottle 88% Raybestos Mfg 21% Foods— Am Sugar ... ... 51 Armour (Ai ... 7 Beatrice Cream'y . . . 18V4 Borden Prod . 26 25% 25*4 26 Can Dry G Ale 28% 28*4 Coca Cola 123 Cont Bak iA> 12*4 . Corn Prod 74 75% Crm of Wheat 33% 33% Cuban Am Sugar 7% Gen Foods 34% 34% Gold Dust 22*4 22% 22% 22% G W Sugar 30% Hershev ... 60% 59% Int Salt 29% Loose Wiles ... . 42 Natl Biscuit ... . 43*4 43% i Natl D Prod ... 17*8 17% 17% 17% Purity Bak 17% 17% | S Porto R Sug . . . 33% Spencer Kellog . 22% 22 22 23% Std Brands ' 21% I United Fruit 76% Retail Stores— Asso Drv Gd.s 17% Best & Cos 33*4 j Gimbel Bros ... 5% 5% i Gimbel pfd 27% Gr Un Tea .. 7% Hahn Dept Sts 7% 7% Jewel Tea 51% Kresge S S 21 % 21% Kroger Groc ... . 32% | Marcy R H 48*4 48% 48% 48% Marshall Fields. 17% 18*2 18% 18% Mav Dept St ... . . 44% Mont Ward 31% 31*4 3f% 32 Natl Tea 17% Pennsy J C ... . 67% Safeway St ..... .. ... 56% 5$

Sears Roebuck 51% 50% SO 5 , 50% Woolworth 54*8 54% Aviation— Aviation Corp .. 8% 8% 8% B*, Curt Wright . 4** 4% Curt Wright ‘ A" 10% 10% 10% 10% Douglas Air 34*8 25% Nor Am Av 6% 6*e Speery Corp ... 10% 10% Unit Aircraft . 25 24% 24% 25% Wright Aero ... * 48 Chemicals— Air Reduc ... 99*, Allied Chem .... . 151 151 Am Com Alco .. 48 47% 48 * 48*4 Col Carbon ... • 76 76% Com Solvents ... 28% 27% 27% 28% Dupont ■ , 98 Freeport Tex ••• 45% 45% Liouid Carb '. ... • 33% Math Alkali .. • . • 37*8 37% Montosonta Chm 93% 92% 93% 92'.. Natl Dis • newi 30 29% 29** 30*, Schenelev Dist . 33% 33% 33*4 34% Tex Gulf Sulph . 37% 37 5 , Union Carbide 45% 45% 45% 45% U S Indus Alco . . .- . 52 V Chem 6% pfd 25% Drugs— Coty Inc 7 Lambert 37 Lehn & Fink • 22% Un Drug 17% 17% 17% 17* s Zonite Prod 7 Financial— Adams Exp .. 10 10% Allegheny Cotp . 3% 3% 3% 3% Am Int Corp 9*a 9% Chesa Corp ... 47** 48% Lehman Corp ... 74% 74% Transamerica 7% 7*2 Tr Conti Corp 5% 5% Building— A.m Radiator .. 16 15% 15% 16 Gen Asphalt ... 22% 21% 21% 22 Int Cement . . 29*4 30 Johns Manville 57 56% 56% 57% Libby Owens Gls .. ... 37% 37 Otis Elev 15% 16 Ulen Const ... ... 3% Household — Col Pal Peet 17% 17*, Congoleum . 28% 28% Kelvinator 19% 19% 19** 19% Mohawk Carpet 21% 21% 21% 21% Proc & Gamble 36% 36*2 36% 36'* Simmons Bed ... ... 21 Textiles — Amer Woolen .... ... 15% 14** Be’ding Hem ... 14% 14% 14% 14% Celanese Corp . . 36% 37 Collins Aikman ..425% 25 25 25% Indus Rnvon ... 87 86% 87 86% Kavser Julius 17% Real Silk 11% New York Curb (By Abbott. Hoppin & Cos.) —April 21— CloseJ Close Allied Mills 9 IGulf oil of Pa.. 67% Alum C'o of Am 79 fHiram Walker.. 44% Am Cyanide B 2%iHud Bay Min... 14 Am Gas & El 29 iHumble Oil ... 45*4 Am Superpower 3% Imp Oil Ltd 14% Asso Gas & El. 1 ilnt Petrol 27 Atlas Corp.... 13%iLake Shore Min 51*4 Can Marc .. 2%lLibbv McN Libby 6** Carrier Corp . BVslLone Star Gas 6% Cities Serv 3 Natl Bellas Hess 3% Com'nwealth E 57%jNia Hud Pwr . 6% Consol Gas of B 59% Novadel Agene . 68*2 Cord Corp .. 6%'Park Davis ... 24% Creole Petrol .. 13 Penn Road .. 3*4 Deere & C'o .. 29%'St Regis Paper 4% Distillers Lim . 23' 4 jSal Crk Products 7% Distillers Corp . 20%iSherwin Wms . 68% El Bond & Sh . 17% Std of Ind 27% Fisk Rubber 18 Vi I Std of Kv . .. 16** Ford of Can A 24 ,Teck Hughes G 7 Ford of Europe 8 JUn Gas 3 % Gen Aviation 6% Un Pwr & L (A) 4% Glen Alden Coal 18 IWri Harg Min . 9%

Chicago Stocks — ——■ (By Abbott Hoppin & Cos.) ——— —April 23High. Low. 10:00. Allied Products 19 18% 19 Bendix Aviation ... 19 Blum's Inc ... 5 Borg Warner . 25% Butler Bros 12 11% 12 Berghoff . 8% B*2 8% Cent 111 Securities com . .. 8 Chicago Corp com 2% 2% 2% Chicago Corp pfd .. 27% Cities Service 32% 3 Commonwealth Edison 57% Cord Corp .. 6% Crane Cos 10% 9% 10% Electric Household .... 13 12% 13 Great Lakes Dredge ... . 20% Gen Household Utl 15% 15 15 Kingsbury . 7 Libby McNeil 6% 6% 6% Lion Oil Refining Cos . . . 4 % Marshall Field 18% 18 18 Mid West Utilities % Noblitt-Sparks Ind Inc 14% 14% 14% Prima Cos 9% Quaker Oats 110*2 Swift <fe Cos 18% 18 18% Swift, International ... 32% 32 32% Utah Radio . . 1% Utility & Ind 1% Vortex Cup Cos . 11 *2 Walgreen Cos com 27% 27% 27% Zenith Radio 4% 4 4

Bond Prices " IBy Fenner & Beane; —' —April 23 High. Low. 10:30. Alleg Corp ss. ’SO . . 45% 45% 45% Am & For Pwr ss. 2030 58 i A T & T db ss. ’65 . 108 107% 108 Atch gen 4s, ’95 101'2 ! B&O cv 4%5. '6O 71% 71% 71*4 I Can Pac 4s. '39 . 80% 80% 80% CMSP&P ad.l ss. A 2000 19% 19 19% CHSP&P rs ss. A '75 55% 55% 55% Con Gas N Y 4'.is. 'sl 104 103'% 104 Denmark 5%5. '55 ... 92% Det Ed ss. E '52 106 Erie R R rs ss. '67 79 78% 79 Goodyear ss, ’57 100% 100 100% Gt Nor 7s. A '36 99% 99 99 Interboro R T ss. ’66 .. 71* 4 71% 71% Int T & T db ss. '55 .. 69'/a 68% 68% McK & Robb 5%5, ’SO 85 84% 84** Nat Dairv db 4%5. '4B 96 95% 95% N Y Cent 4%5, 2013 .. 80% 80 80 Nor Am ss. '6l .. ... 90% Pac Gas & El ss. A '42 . 105% Penn R R 4%5, D 'Bl . . 96% 96 96% Poland 7s, '47 99% 99% 99% Shell Un 011 ss. '44 .. 99 Sin Cons 6%5. B '3B . 104*, 104% 104% Texas Corp ss. '44 102% 102% 102% Un Pac Ist 4s. ’47 104% 104 104 U S Rubber ss. A '47 91 89% 90% Vanadium ss. '4l . 89 Western Un ss. 'sl 93% 93% 93 % Ygstwn S& T ss, B '7O 87% 87', 87% U. S. GOVERNMENT BONDS (Bv United Press) NEW YORK. April 21.—Closing liberties (decimals represent 32nds.). —LIBERTY—--3%s (3247) 103.22 Fist 4% s • 3247) 103.20 Fourth 4* 4 s (33381 103.30 —TREASURY—--4%s 3%s (451 : 101.28 4%s (47521 110.13! 3%s (4347) 102.11 3%s (41431, March 102.17 3%s (40431, June 102.22 3% s 1411 102.20 3%s (4649) 100.22 3s (51-55) 99.19 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —April 21— Bid Ask 4s Nov. 1 1957-37 100 100% 4s Mav 1 1958-38 100 100*,* 4% s July 1 1956-36 100% 101 4%s Jan. 1 1957-37 100V* 101 4%s May 1 1957-37 100% 101 4%s Nov. 1 1958-38 100% 101 4%s Mav 1 1942-32 99% 100% 4%s Jan. 1 1943-33 99% 100% 4%s Jan. 1 1953-33. 99% 100% 4%s Julv 1 1953-33 100 100% 4%s Jan. 1 1955-35 100% 100% 4%s July 1 1955-35 100*, 100% i 4%s Jan. 1 1956-36 100% 101% , 4%s Julv 1 1953-33 100*8 101% i 4%s Jan. 1 1954-34 100*, 101%j 4%s Julv 1 1934-34 100*8 101'/a I 5s May 1 1941-31 101% 102 | 5s Nov. 1 1941-31 101'/ 102 I —Home Loan—--4s July 1 1951 100 100% —Federal farm Mortgage Corporation—--3%s March 15 1964-44 101 101% " y* ' FLORIDA MAN SLUGGED, ROBBED BY HIS GUEST Transient Attacked by Acquaintance in Hotel Room, Police Told. - It doesn't pay to play the Good Samaritan, Richard Geary, 24, Stark. Fla., decided yesterday, after he was slugged, bound and robbed by a man he had permitted to sleep < in his room at a downtown hotel. ! Mr. Geary told police he met the man on a bus. Yesterday, he awoke to find his guest dressing. The , man drew a revolver, bound and gagged Mr. Geary, and fled with $2. a watch and ring.. Police were informed by Jack Morris, 3600 East Thirty-ninth street, that two men he met in a beer parlor took him for a ride. He went to sleep, and when he awoke, the men and his car, as well as his purse containing* S4O were, gone.

STOCK SHARES 1 RECOVER AFTER INITIAL DECLINE Several Special Issues at New 1934 Highs; Silver Rallies. BY ELMER C- WALZER United Press Financial Editor NEW YORK. April 23.—Stocks and commodities declined in early trading today and then rallied. Around noon the list was irregular in a narrow range with trading quiet. Several issues in isolated sections jcf the list made good gains. Sevj eral new highs for the year. Among : the wider nfit changes around noon were Pere Marquette at 35. up 2. and the preferred 42, up 3% and a new high for the year; American [Writing Paper preferred 17%, up 1% i and anew 1934 top; Case 70’,, I off l’s-; Auburn Auto 41. off 1 but up from the day's low of 40%; Chrysler 53%. off 1 but up % from the low of 52%. Silver issues rallied for gains of fractions to nearly a point. Coppers were strong with International Nickel at 28%, up % and anew 1934 high. Small gains were noted in American Can, Amerada, and Radio preferred B. Goodyear was up nearly a point in the rubber section. United States Steel was at. 52%. off %; New York Central 35%, off %; Standard of New Jersey 46%. unchanged; and Sears Roebuck 51. up %. Money and Exchange INDIANAPOLIS BANK CLEARINGS —April 23 Clearings $1,579,000.00 Debits 4.081.000.00 FOREIGN EXCHANGE (By Abbott. Hoppin & Cos.) \-April 21— Close. Sterling. England $517 Franc. France 0699 Lira. Italy 0862 Belgias. Belgium .2364 Mark, Germany 3075 Guilder. Holland 6870 Peseta. Spain 1387 Krone. Norway 2700 Krone. Denmark 2312 Yen, Japan 3051 Treasury Statement •By United Press) ->• WASHINGTON. April 23.—Government expenses and receipts of the current fiscal year to April 20. compared with the corresponding period of the previous fiscal year: This year Last year Expenses. $5,657,035,686.70 $4,095,007,601.50 Receipts $2,441,392,607.62 $1,605,394,139.85 Deficit. . $3,215,743,079.08 $2,480,613,461.65 Cash balance $4 416.506.733.53 BRIDGE CONSTRUCTIONS TO GIVE EMPLOYMENT ' Two San Francisco Structures Will Provide Work for 4,40 b. B’l Timex Fpccinl San Francisco, April 23.—Construction work on the two great bridges here will give employment during the year to an average of 4,400 men directly at work on the projects and to 8,000 in various national industries supplying materials, according to the Bank of America, Pacific Coast branch banking institution. Expenditures under the 1934 schedules for the two projects will total $26,800,000. By the end of 1934 it is expected that the bridges,' to cost ultimately approximately $110,000,000, will be from 30 to 40 per cent completed, the bank states. On the San Francisco-Oakland structure, a California state project to connect San Francisco with the mainland to the east, the submarine work is practically finished after more than a year’s time. Steel work, which ultimately will rise to a height of a forty story building, is now being erected on port the main spans acrcss the bay. one of the four piers which will supWhen completed the bridge will be the world's largest and longest, measuring eight and one-quarter miles in length overall. $1,539,287 Benefits Paid By Times fipreial NEW YORK. April 23.—T. *W. Carroll, chairman of the Employes’ Benefit Fund Committee of the Western Union Telegraph Company has announced that $1,539,287 was paid from the fund in 1933 for pensions. accident and sickness disability and death benefits. Investment Trust Shares (By Abbott, Hoppin & Cos.) —April 21— Bid. Ask. American Bank Stocks Corn .. 127 1.27 American & Gen Sec A 5.00 7.00 American & Inv Tr Sh 1.75 Basic Industry Shares 3.66 3.76 British Type Inv Tr Sh 54 .60 Collateral Trustee Shares A .. 5.00 5.12 Corporate Trust Shares • old ( . 2.23 2.27 Corporate Trust Shares (new). 252 2.56 Cumulative Trust Shares 4.32 Diversified Trust Shares A . 6.25 Diversified Trust Shares B .. 8.20 841 Diversified Trust Shares C .. 335 3.40 Diversified Trust Shares D .. 505 5.15 First Insurance Stock Corn .. 1.33 1.39 First Common Stock Corp ... 85 .83 Fixed Trust Oil Shares A <.... 9.00 Fixed Trust Oil Shares B .... 7.87 Incorporator? Investments ... 19.25 19.50 . Land Bank Bond Shares 1 26 1.33 Low Priced Trust Shares 6.80 7.00 Mass Inv Trust Shares 19.92 21.63 j Nation Wide Securities 3 60 3.70 : North Am Trust Shares (531.. 2,80 265 North Am Trust Shs (55-56).. 2.64 2.70 Selected American Shares 2.89 Selected American Shares Inc. 1.32 1.37 i Selected Cumulative Shares . 7.00 l Selected Income Shares ... 3.70 4.20 Std American Trust Shs A•.. 3.16 3.22 i Trust. Shares of America 3 03 3.07 Trustee Std Oil A 5.87 5.45 U S Electric Lt & Po A 13.25 14.00 j Universal Trust Shares 3.22 3.27 ! ADDING MACHINE AND CHECK-WRITER STOLEN: Thieves Break Into Garage on East Washington Street. Breaking into a garage operated by David Robertson at 2705 East Washington street, thieves stole a check writer and adding machine i valued at more than S2OO yester- | day, according to police reports.

Abbott, Hoppin & Company 20.3 Continental Bank Bldg. RI ley 5491 New York Indianapolis Montreal Pittsburgh MEMBERS: New York Stock Exchange Chicago Board of rrade 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

PAGE 11

Wall Street Wall Street Disturbed by Slump in Wheat Prices. BY RALPH HENDERSfyOT Timr* Special Financial Writer. WHEAT prices have been subjected to no little kicking around during the past few days, new low levels for the season having been established. The Street has been rather disturbed by the development, and all sorts of reasons have been ascribed for the slump. Some people blame Secretary Wallace, main-

taining that a statement be made about the American and world markets getting together pricewise had caused the break. Others contended that the technical position of the market had been weakened by the big traders getting out. while still others are inclined to place the blame on the

Hendershot

I renewed demands for commodity | market regulation. In all probability some or all of I these developments have been contributing factors, but it would seem : that the fundamental cause of tiie weakness is the fact that wc have tinkered with the market so much that it has become more or less artificial and consequently subject to strange turns and twists. B B tt Exports Have Vanished NORMALLY the United States exports from 10 to about 15 per cent of her wheat crop. But in recent years conditions have not been normal and exports have been declining. Os late we have been ex- ; porting virtually no wheat. A relatively large surplus of the cereal has piled up and it has been next to impossible to work it off. Last year the crop was abnormally small, so a slight reduction was effected, but there is grave danger that a further increase in stocks may take place in the current year if even an average crop is harvested. Assuming the United States could hold down the size of its crop to domestic requirements, it is fair to assume that it could come close to controlling prices. It can always adjust its tariff so as to exclude importations. But the size of crops is something even the government can not regulate, because the weather j man in a stranger to Uncle Sam. 808 Control a Big Problem WE can hardly expect to control wheat prices, however, so long' as we desire or hope to compete in the world markets with our output. And to drop out of the world markets is not good business if we wish to protect the markets at home, if we do not offer our goods abroad, someone else will, and by permitting others to get our trade, we stand the chance of not regaining it when we regard the time as opportune. If other countries build up their wheat-growing powers to supply an existing market they are not likely to back out gracefully to please us. It would seem that this country must make up its mind one way or another whether it wishes to continue growing wheat for export. If it does, it might well take another look at the idea of controlling prices.. And if it does not, it would appear to be the part of wisdom to develop some other market to offer to farmers. It is possible to buy off the farmers in the matter of growing wheat, or any other crop, for that matter, but it is a rather costly proposition. But a year or two of good wheat crops and we either will re-enter the world market or we will take what we can get at home. To buy up or control the surplus would be almost out of the question in such an event. EMPLOYMENT AT PEAK Detroit Total Highest Since May, 1830, City Reorts. Bp Times Special DETROIT, Mich., April 23.—The highest peak in industrial employment in the motor capital since May. 1930, was reached here April 15, according to the Detroit board of commerce. The board estimated the total number employed at 348,000. The index of employment kept by the board stood at 111.2 on April 15, just .3 of a point under the 1930 figure. Employment in the last month has gained 9 per cent, according to the index, and 41.6 per cent since last November. Stock Issuance Approved Bp Times Special WASHINGTON. April 23.—Approval of* issuance by the Boston and Maine Railroad Company of 516,346,000 of 7 per cent prior preferred stock of SIOO par value to be exchanged for the road’s mortgage bonds at the rate of five shares of stock for each SSOO principal amount of bonds has been made here by the Interstate Commerce Commission.

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