Indianapolis Times, Volume 45, Number 303, Indianapolis, Marion County, 30 April 1934 — Page 8

PAGE 8

Wall Street Sloan Provides Partial Answer to Questions From Street. —BY RALPH HENDERSHOT—

Times Special Financial Writer. SPEAKING in Boston last week, Alfred P. Sloan Jr., president of the General Motors Corporation, made the statement that the problem of industry is not overproduction, but “a grave maladjustment.” He said also that as recovery progresses industry must demand “the greatest possible freedom of action

to exercise our initi ati v e to capitalize to the fullest degree our opportunity and the resources of our country, with a minimum of esse n tial restrictions.” Assuring these two statements to be soundly con ceived —and there are a great many who will agree that they a r e—an impor-

Hendershot

tant question arises, viz., given the greatest possible freedom of action, is industry prepared to furnish reasonable assurance that none of its actions will continue toward another “grave maladjustment" a few years hence? The man in the street, and consequently the government, is interested in preventing, if possible, another collapse of our economic structure. Mr. Sloan, apparently taking cognizance of this question, called upon industry for more intelligent direction and more openmindedness with respect to its social responsibilities. Thus would appear to be a reasonable answer as far as its goes. But the public probably would like to know whether it can count on any follow through on an appeal. Will the leaders of industry, such as Mr. Sloan, make an attempt to secure more intelligent direction and more openmindedness? A United Press dispatch from Washington last week on the silver developments there carried the following statement: “The treasury pointed out that the presence of a name on the list (names of people and concerns owning silver) carried no implication of wrongdoing; nor did it indicate that the person or firm named necessarily was speculating.” Any one at all curious might w T ell ask why the names were made public. Why run the risk of creating the wrong impression? tt tt tt SETTLEMENT of the railroadwage question eliminates an important dangers of strikes in industry and should make every one feel a little more confident of a continued improvement in business. A tieup of the transportation system at this time w-ould seriously interfere with the recovery program, because not only would the railroad men themselves be affected but other branches of trade would be materially handicaped as well. It is expected that the increase in pay granted will add to the pay rolls of the carriers about $15,000,00 this year, but that would be a relatively small item, if business continues to gain ground.

Produce Markets Delivered in Indianapolis Prices—Hens, 11c. Leghorn hens. Bc. Leghorn spring-er-stags. 6c; large springer-stags. 9c; cocks 5 lbs. and over 6c; under 5 lbs., 4c; ducks, lull leathered and lat. 4% lbs. and over 7e: geese. sc; young guineas. 1% to 3 lbs.. 30c; old guineas. 20c. No. 1 strictly Iresh country run eggs, loss off 13c each lull case must weigh 5 lbs. gross; a deduction ol 10c a opund lor each pound under 55 lbs. will be made. Butter —No. 1, 2526 c. No. 2 23®24c; butterlat. 21c.— Quoted bv Wadley. ißy United Press) NEW YORK. April 30— Potatoes— Firmer: Long Island. 51.500 325 barrel: - southern. $2 75 ■ 5 barrel. Maine. sl.lo® 3 50 barrel; Idaho. $202.10 sack;; Canada. $1.90 /3.25 barrel Sweet potatoes—Firm: Jersev basket. 50c /$: southern basket. $1 25,. 1 60. Flour -Higher; spring patents. $6.25® 6.55 barrel. Pork—Firm: mess. S2O 25 barrel Lard—Firm; middle west spot. $4.10 'i 420 per 100 lbs. Dressed poultry—Steady; turkeys. 14'25%c: chickens. 10' - '2Bc. broilers. 20'i28c. capons. 21® 33c. fowls. 16 a 21c: Long Island ducks. 15%®16c Live poultry— Steady: geese. 6 (B 7c; turkevs. 10'-i22c; roosters. 8c; ducks. 8 i 12c; fowls. 17'.119c; chickens. 94711 c; capons. 22c. broilers. 12//24c. Cheese— Steady; state whole mil - :, fancy to specials, 1 B'i 19c. voung Americas. 12%®13c Eggs Receipts. 24 941 cases; market irregular: special packs, including unusual hennery selections. 18%'/20%c: standards. 17%0 18%c; firsts, lo%c: seconds. 16c; mediums. ISLc: dirties. 15%c: checks. 14%015c: storage packs. 17017%c. Butter —Receipts. 7.702 packages; market firmer; creamerv. higher than extras. 25%®26%e; extra. 92 score. 25'vC; firsts. 90-91 score. 24% ii 25%c; firsts. 89 score. 24% ® 24‘ ac: centralized 90 score. 24%ff25c; centralized. 89 score. 24%®24%c. CLEVELAND. April 30.—Butter market steady Extras 28c. standards. 27%c. Eggs Market steadv. Extra white 15c; current receipts 14%e. Poultry, market steady. Colored fowl. 5 lbs . and up. 15c; leghorn fowl light. 14c: broilers colored ordinary. 20 ,i 23c: old roosters. 10c: ducks, w hite, o lbs and up. 19c: broilers, fancy rock. 25 26c. broilers leghorn. 2147 22c: stags. 13c. Potatoes. Maine best. $2472.15 per 100 lb. sack: Idaho. $18502; Ohio and New York. $164.

MARCH AUTO OUTPUT CLIMBS 43 PER CENT Truck Production Shows Best Gain in First Quarter. By Times Special ■ NEW YORK. April 30.—Automobile production in March in the , United States reached 335.993 cars, which was more than had been expected. according to a report made by the Business Week. This was an increase of 43 per cent over February, and brings the first quarter 106 per cent above the first quarter of bath 1933 and 1932. Truck output made a better gain than passenger cars in the first three months showing 167 per cent increase against 96 per cent. Some dealers report that their first quarter sales were equal to the entire 1933 totals. majofTrUbber firms TO BOOST TIRE PRICES Sharp Increase May Follow New Agreement Effective. June 1. By United Press AKRON, 0., April 30—Increases In t:re prices were envisioned by officials of major rubber companies tedav as a result of a rubber production restriction agreement signed by nine producing countries. Harvey S- Firestone, chairman of Firestone Tire and Rubber Company. said he believed tire prices would increase sharply soon after the agreement goes into effect June 1. Officials of B- F. Goodrich Rubber Company viewed the restriction act as being safeguarded against unduly sharp increases in crude rubber prices. Such as those which sent prices above $1.20 per pound in 1925. All major companies are reported carrying long crude rubber inventories. i

SHORT SELLING DRIVE CARRIES STOCKSLOWER Few Issues Recover Part of Early Losses; Gold Shares Slump. BY ELMER C. WALZER I’nllfd Press Financial Editor NEW YORK, April 30.—A short selling drive undermined the stock market in the late morning dealings today. Prices broke Ito nearly 5 points and at one time tickers were three minutes late. The market turned dull in the third hour with prices recovering part of the early losses. The list was still down fractions to more than a point over the general market. Silver issues had losses ranging to 4\ points in United States Smelting, while the decline in the gold shares ranged to 23 points in the volatile Home-stake Mining which sold at 351, anew low on the movement. The latter stock sold as high as 382 this year. In the course of the decline new lows for the year were made by a long list of issues, including Chrysler, Celanese and Industrial Rayon. Unloading in large amounts was noted in the mail order shares, notably Montgomery Ward. Steel issues softened. Rails w T ere weak and so were utilities and chemicals. Wet issues, firm in the early dealings, eased small amounts from the previous close. Money and Exchange INDIANAPOLIS BANK CLEARINGS —April 30— Clearings $1,894,000.00 Debits 4.653.000.00 Clearings for the month 46,577.000.00 Debits tor the month 120,156,000.00 FOREIGN EXCHANGE (By Abbott, Hoppin & Cos.) —April 28— Close. Sterling, England $5.13% p-anc. Fiance 0665 Lira. Italy 0856 Belgias. Belgium 2354 Mark. Germany 3973 Guilder, Holland 6820 Peseta. Spain 1378 Krone. Norway 2590 Krone, Denmark 2300 Yen, Japan 3042 Treasury Statement ißy United Press) WASHINGTON, April 30.—Government expenses and receipts of the current fiscal year to April 27. compared with the corresponding period of the previous fiscal year: This Year. Last Yera. Expenses $5,778,439,847.76 $4,185.952 400 84 Receipts $2,474,237,354.93 $1,628,256,360.78 Deficit 53.304 202.492.83 $2,557,695,540.06 Cash Bal $2,328,526,606.60

Bond Prices By Fenner & Beane

—April 30— ... High. Low. 11:30 Alleg Corn 5s ’SO 45 44% 44% AM A: For Pwr 5s 2030 56 55 % 56 AT&T bss ’65 .. 107% 107% 107% Atchison gen 4s 95.. 102 101% 102 B&O cv4%s '6O 69% 69 69 Beth Steel 5s A 136 102% 102% 102% Can Pac 4s 81% 81 81% C&O 5s A '39 . . . 109 ChMStP&P adjss2ooo 17% 17% 17% ChMStP&Prf 5s A'7s 53 52% 53 Cons Gas NY4%s'sl 104 Denmark 5%s '55 91 Det Ed 5s E '52 107 Erie RR rs 5s '67.. 77% 77 77% French 7s '49 . 108 Goodyear 5s '57 99% 99% 99% Gt Nor 4%s D'76 .... ... 86% Gt. Nor 7s A '36 99 98% 08% Interboro RT 5s '66 70% 69% 69% Int T&T b 5s '55 65 64% 64% Lorillar 7s 44 . 120 McKess&Rob 5%5'50 84 83% 84 Nt Dairy dbs%s'4B 94% 94% 94% NY Cent 4%s O 2013 79 78% 78% PacGas&El 5s A '42 105% Para Pub 5%s 'SO 51 Penn RR 4%s D 'Bl 96% Poland 7s '47 104% Roval Dutch 4s A '45 127% 127 127 Shell Un Oil 5s '47 97 Sin Cons 6%c B '3B 104%' Texas Corp 5s '44 102% 107 102 Tob Pr NJ 6%s 2022 107 Un Pac Ist 4s '47 . 104% 104% 104% US Rubber 5s A '47 SS 87 % 87% Vanadium 5s '4l .. 87% 87 87*% Western Un 5s 'sl 95 U. S. GOVERNMENT BONDS (By United Pressl NEW YORK. April 28.—Closing liberties. (Decimals represent 32nds). LIBERTY 3%s (32-47) 103.28 First 4%s (32-47) 103.30 Fourth 4%s (33-38) 104.3 TREASURY 4%5. 3%s (45) 102.16 4%s <47-521 110.24 3%s (41-43) March 103.12 3%s (41) 103.12 3%s (46-49) 101.1 3s (51-55) 99.29 FEDERAL FARM LOAN BONDS (Bv Blvth & Cos.. Inc.) —April 28— Ttiri A cl—4s. Nov. 1. 1957-37 100 % 100% 4s. Mav 1. 1958-38 100% 100% 4% s. Julv 1. 1956-36 100 100% 4%5. Jan. 1. 1957-37 100% 100% 4%5. Mav 1. 1957-37 100% 100% 4%5. Nov. 1. 1958-38 100% 4%5. Mav 1. .942-32 100% 100% 4%5. Jan. 1. 1943-33 100% 100% 4%5. Jan. 1. 1953-33 100 100% 4%5. Julv 1. 1953-33 100 100% 4' -s. Jan. 1. 1955-35 100% 100% 4%5. Jan. 1. 1956-36 100% 100% 4%5. Julv 1. 1953-33 100% 100% 4%5. Jan. 1. 1954-34 100% 100% 4%5. Julv 1. 1954-34 100% 100% ss. Mav 1. 1941-31 101% 101% ss. Nov. i. 1941-31 101% 101% Home Loan 4s. Julv 1. 1951. 100% 100% 3%5. March 15. 1965-44 101 101%

Bright Spots ““(By Abbott. Hoppln & Co.)“~

Peoples Drug Stores Inc . in the first quarter had a net profit of $229,237 after taxes against $lO5 281 in the first quarter of 1933. American Bank Note Company in tne quarter ended March 31 had a net loss of SIBB 546 after all charges against $42,356 in the corresponding period last year. Link Belt Company and subsidiaries in three months ended March 11 had a consolidated net income of $118,077 after taxes, depreciation and other charges against a net loss of $205,672 in the corresponding three-month period of 1933. Foundation CompanvMn the vear ended Dec. 31 had a net loss of $106,049 after taxes and other charges against $35,767 in the previous year Hupp Motor Car Corporation first quarter net loss was $742,026 after all charges against $552,997 in the first quarter of 1933. Houston Oil Company in the quarter ended March 31 earned 3 cents a share on the common stock against a net loss of $355,294 in the like 1933 period. Bt. Regis Paper Company report for 1933 shows a net loss of $1,480,326 after *ll charges against $1,443,697 in 1932. West Virginia Chlorine Company declares the regular quarterly dividend of 10 cents a share on the common stock. Parker Rust Proof Company in the quarter ended March 31 had a net profit of S2BO 816 after charges against $64,796 in the like 1933 quarter. Truscon Steel Company In the first quarter of the current vear had a net less of *146.100 after charges A;nst $336.181 in the first quarter of 1933. Great Atlantic and Pacific Tea Companv declares the usual extra dividend of 45 cent* and the regular Quarterly dividend of $1.50 a share on the common stock. Hudson Motor Car Corporation in the first quarter had a net loss of $802,845 after charges against $1,491,006 m the first quarter of last year. Westinghouse Airbrake Company in the first quarter had a net loss of $271,723 after charges against a net profit of $117,290 in the first quarter of 1933. American Home Products Company declares the regular monthly dividend of 20 cents a share on the common stock. Zenith Radio Corporation in nine months ended Jan. 1 bad a net profit of $91,277 after charges but before federal taxes against a net loss of $392,563 in the same nine months a year previous. LouiavtUe St Nashville Railroad Company March net operating Income amounted to $1,635,941 against $377,013 in March, 1933. i

New York Stocks (By Abbott Hoppin & Co.I ——————

AVERAGE STOCK PRICES FOR SATURDAY Net High. Low. Close, change Thirty industrials 104.01 102.75 102.90 -.75 Twenty rails 49.11 48.75 48.78 —.50 Twenty utilities 25.70 25.48 25.50 —.lO Forty bonds 94.97 +.04 Ten first rails ..... 100.04 +.04 Ten second rails 84.54 +.04 Ten utilities { ..... ..... 97.65 -.06 Ten industrials ...... ..... 97.65 same -Up. -Off.

Oils— Prev. High. Low. 10:00 close. Amerada . 51 51 Atl Rfg 28 27y 27% 27% Barnsdall B*2 Consol Oil 12% 12 % Cont of Del .... 21 20% 21 21 Houston (old* 25% Mid Cont Pet 13 13 Phillips Pet 19 18% 18% 18% Plvmout Oil ... . 13% Pure Oil 11% 12 Sbd Oil 36 36 Shell Un 9 8% 9 8% Soc Vac 16% 16% 16% 16% S O of Cal 36% 36 36 36% S O of N J .... . 45% 45% Texas Corp 26% 26 26 26% Tidewater Assn.. .. ... 13% 13% Un Oil of Cal 17% 17% Steels— Am Roll Mills .. 23% 22% 23 23% Beth Steel . 40% 40% Bvers A M 26% 26% 26% 26% Inland Steel 46 Mid Steel 15% 16% Natl Steel 49% Otis Steel 6% Rep Iron * Steel 20% 20% 20% 21 Rep Irn&Stl pfd ... 57% 58% U S Pipe & Fdy 27% 27% 27% 27% U S Steel 49% 48% 49% 49% U S Steel pfd. 94% 94% Warren Bros * ... .. 11% Youngstn S& T 26% 26% Motors— Auburn 41 40% 40% 41 Chrysler 48% 47% 47% 48% Gen Motors 36% 36'% 36% 36’a Gen Motors pfd .. 102% Graham Mot 3% Hudson 16% 16% 16% 16% Hupp 4% 4% MacK Truck 30% 30% Nash 21% 21 21% 21% Packard 4% 4% 4% ... Studebaker 6 6 Yellow Truck 5%

Motor Access— Bendix 18% 17% 17% 18 Bohn Alum ..... . ... 63 Borg Warner ... 24% 24% 24 24% Briggs 18 17% 17% 17% Budd Wheel 4% 4% Eaton Mfg - 19% 20% Elec Auto Lite.. 25% 25 25 25% Houdailie (A) 5% Mullins Mfg 14 Murray Body .. .. ... 9% 9 Stew- Warner.... 8% 8% 8% 8% Timken Roll ... . .. 32% 32% Timken Det Axel 7% 7% 7% 7% Mining— Alaska Jun .... 20 19% 19% 20 Am Metals .. .. ... 23 Amer Smelt .... 41 40% 41 41% Anaconda 16% 16 16% 16% Cal & Hecla 5% 5Vs 5% 5% Cerro de Pasco.. • . 33% 34 Dome Mines .... 37 36% 37 37 Granby 11 % Gt Nor Ore 13% 13% Howe Sound 47Vs 48% Int Nickel 28% 28% 28% 28% Isl Creek Coal.. . . ... ... 28 Kennecott Cop.. 22 21% 22 21% Mclntyre Mine.. 45% 45%_ 45% 45% Noranda Cop .. 40% 40 I 'a 40% 42 Park Utah 4% 4% 4% 4% Phelps Dodge 18 18 St Joe Lead 21% 22 US Smelt 120 vanadium 25%

Amusements— Croslev Radio.. .. ... ... 1414 Fox Thea 1614 16% 16*4 16la Loews Inc 32*4 32 32‘4 32% Radio Corp .... BVg 8 8% 8% RKO ... 3!4 - 3% Warner Bros ... 7*/s 7 7 7% Tobaccos — Am Snuff 58 .•. • Am Sum Tob ... 18 18 Am Tob A 70 3 4 Am Tob B 71*/i 1 7114 7114 711a Gen Cigars ... ... 36*/2 Ligg & Myers B 94 Lorillard 18’4' 18 18% 18 Reynolds Tob B 42% 42% 42% 43 Rails— Atchison 67 5 8 66V4 67% 67% Atl Coast Lines. • 45 46 B& O 28% 28 1 4 28*4 28% Can Pac 16% 16% 16% 1614 Ch & Ohio .... 4614 4614 4614 46% Chi & Gt W pfd 10% ... C M & St P 614 ... CM& St P pfd 1014 101 s Cht N W 1214 1214 1214 12 3 a Chi N W pfd 2314 Dela & Hud 64 ... Del Lac & W... • ■ ... 27 27% Erie 2114 21 21 21% Erie pfd .■ • 26% 25% Grt Northern pfd 7714 2614 27 27 >2 111 Central .... 3114 301 4 31 31% K C Sou ' • 16*4 Lehigh Valley 1814 1814 MK & T pfd 28’ 2 AN Y Cent . ... 3114 30 3 4 3114 33% N Y Chi & St L 22 5-8 NYC&StLp 3714 37% N Y New - Haven 18% 18 18 1814 N Y O & West 9 Norfolk & Wes.. ••• 180 Nor Pac 3314 33% 33 3 4 3314 Penn R R 3314 3314 Readme • • • 52 52 Sou Pac 2614 2614 26*4 2614 Sou R R 3114 30% 31 32 Sou R R pfd 39 Union Pac ••• • •• I-* 9 West Maryland.. .. ... 14% ... Equipments— Allis Chalmers . 1914 19 19 1914 Am Car & Fdy 27 Amer Loco ••• "is Am Steel Fdy 19% 19 19% 1914 Bald Loco 1314 13% Bald Loco pfd 58 Cater Tract .... ••• 31% 31% Deere &Cos 28% 2814 28% 3814 Elec Stor Bat ’5 Foster Wheeler 19 Gen Am Tk Car . „ ••• 40 s Gen Elec 28*4 21% 22 22/a Gen R R Sig 39% ••• Ingsol Rand Int Bus Mach ... Int Harvester 40 2 40 * Natl Cash Reg 18% 18% Pullman Inc .. ... 56% 56 Rem Rand .... 11% ll'i 11 * |1 4 West Air B • • 31 Westingh Elec . 39% 39 39 39 Worthington Fmp 27 Utilities— Am&For Pwr 9% Am Pwr & Lit •••„, ,814 8% AT&T 120 119% 119% 120 Am Wat Wks .. 20% 20% 2014 20% Brook Un Gas ••• ••• ®f /2 Col Gas & Elec .15 14% 15 15 Com & Sou .. 2% 2% 2% 2% Consol Gas •••. 36 35 3 4 36 36 Elec Pwr & Lit 6% 6 % E P & L pfd 15% Int Hydro Elec 7T4 7% 7% 8 Int TANARUS& T ..14 13% 13 14 Nat Pwr & .Lit ll 3 s 11% North Amer }8 4 18 4 Pac G& E 18% 18% Peoples Gas -• 36 • sri£ , *“i.V*W '3B'. '3.., sk So Cal Edison.. . • • •,, H,® Srd Gas ... 12% 12% 12% 12% Std Gas pfd .. 13% 14% 12-4 14 Stone & Webst’r 9 -3 United Corp 6 .S s/ Un Gas Imp 16% 16% Ut Pwr & Lit A 3 a Western Union.. .. ••• 52 4 52 s Rubbers — Firestone 21% 21 21% 21% Goodyear 35% 35 35% 34 j Goodrich If. ? ~, Kelly Spring ... „ ••• 3% 3% U S Rubber 22% 21% 21% 22 U S Ruboer pfd 56*2 55 56 55 Miscellaneous — Am Bank Note.. 21% 21 21 22% Am Can 101% 101 101% 101% Anchor Cap . .. 21% Brklyn Man Tr. 37 36% 37 37 Conti Can . • • • • 81 3 4 Curtis Pub 26% 26% 26% 26% Curtis Pub pfd . . . • ‘9% Eastman Kodak 94*2 94% 94*2 9s Gillette 11% 11% 11% IJ% Glidden ... 27% 27*4 27*2 27% Inter Rapid Tr ?% Owens Bottle 8s Raybestos Mfg 20*8 20% Foods— Am Sugar 49* 2 49 49 49 Armour A 6% 6% 6% 6% Borden Prod 24*2 24% Beatrice Cream 16% I<% Cal Packing ... 34 33% 33*2 32 3 4 Can Drv G Ale 27*2 27% Coca Cola 122 122% Cont Bak A 11 11% Corn Prod 72 73 % Crm of Wheat 33% 33*4 33% 33% Cuban Am Sugar Gen Foods ... 35% 36 Gold Dust 21 % 21*2 G W Sugar 28% Int Salt 28 Loose Wiles 42 Natl Biscuit ... 41*2 41% 41*2 41% Natl D Prod .... 16% 16% 16% 16% Puritv Bak .... . 16% 16% Std Brands 21% 21% 21% 21% Un Biscuit .... . . . 28% United Fruit ... 73*2 73 73% 74% Retail Stores— Best & Cos 33 32*2 33 First Natl Stores 66 Gimbel Bros 5 Gr Un Tea Hahn Dept Sts 6% Kresge S S 20*. 20% Kroger Groc 31% Macv R H 46% 46 46 46 Marshall Fields.. 17% 17% 17*4 17% May Dept St . . 42 Mont Ward 30% 30% 30>s 30% Natl Tea 16*8 Penny JC ... 67% Safeway St .... 54% 54% 54% 54% Sears Roebuck . . 48% 48% Woolwortb 52 51% 51% 52% Ariation— Aviation Corp 7% Curtiss Wright 4 4% Curtiss Wright A 10% 10% Douglas Air 22% 22% Speebv Corp .- 7% 10 United Aircraft. 23 22% 23 23% Wright Aero ... 55% Chemicals—- . Air Reduction 99*2 100% Allied Chem 145% 146 Am Com Alcohol 48*2 48% Col Carbon 72% 72 72 72*2 Com Solvent*... 26% 26*4 26% 26*2 Dupont . 94 93*2 94 94 Freeport Tex ... 44% Liquid Carb .... 32% 31% 32% 32% Math Alkali 34% 34% Moatco&M Chem ... 93

THE INDIANAPOLIS TIMES

Natl Dis (new). 30 29% 30 29% Scheneley Dist . 35% 34% 35 34% Tex Gulg Sulph. . 35% 35% Union Carbide 43 43% 42% 43% U S Ind Alcohol 51% Virg Chm67e pfd 21% Drugs— Coty Inc 6 6% Lambert 26% 27 Lehn & Fink 22% 22 % Un Drug 18 17% 18 17% Zonite Prod 6% 7 Financial — Adams Exp 9% 9% 9% 9% Allegheny Corp. 3% 3% Am Int Corp 8% Chesa Corp 46 46% Lehman Corp 773 Transamerica 6 Vs 6% Tr Conti Corp 5 5 Building—■ Am Radiator ... 15% 15 15% 15% Gen Asphalt 20% 20% 20% 21% Int Cement .... . 28% 28% Johns Manville 56% 56% 56% 56% Libby Owens Gls 35% 35% 35% 35% Otis Elev 15% 15Ya 15% 16 Household— Col Pal Peet 16% 17 Congoleum 28 Kelvinator 18% 18 Vs 18% 18% Mohawk Carpet 20% 20 Proc & Gamble 35’% 35% Simmons Bed 19 19% Textiles— Amer Woolen 13% 13% Belding Hem 14% 14% Celanese Corp .. 29% 29% 29% 30% Collins Aikman. 22 22% Gotham Hose 9% 10 Indus Ravon .. ... 74 Kayser Julius .. 17 let's... 17% New York Curb (By Abbott, Hoppin & Cos.) —April 28— Close! Close. Am Cyanide •• 21%'Hiram Walker.. 40% Am Gas & El 26%:Hud Bav Min. 13% Am Superpower 3 Humble Oil . .. 44% Ass Gas & El..* %!lmperial Oil Ltd 14% Atlas Corp ... 12% Int Petrol .... 26% Can Ind Ale A'l3% Lake Shore Min 51 Can Marc 2% Libbv McN Libb 6% Cities Serv ... 3% Lone Star Gas.. 7% Common’th Ed 57% Natl Bellas Hess 3% Cord Corp .... 6%fNewmont Min.. 54 Creole Petrol... 12%lNia Hud Pw r r .. 6 V* Seere & Cos ... 28%!Pan Am Airways 40 istillers Lim. 23% Penn Road 3Vs Distillers Corp. 19% St Regis Paper 3% Dow Chem . • 86 (Sal Creek Prod 7 El Bond & Sh 16%;Sherwin Wms .. 67% Fisk Rubber.. 15 Std of Ind .... 27% Ford of Can A 23 I Technicolor Ind 9% Ford of Europe. 7%lTeck Hughes G 6% Gen Aviation.. 6 lUn Gas 3% Glen Alden C . 16%(Un Pwr & Lt A 3% Gulf Oil of Pa 60%(Wright Harg's M 9%

Chicago Stocks By Abbott, Hoppin & Cos.

—April 30High. Low. 11:30. Allied Products 17 Asbestos Mfg 3 Berghofl 8% 8 8% Bastian-Blessing ... 6% Bendix Aviation 18% 17% 17% Borg-Warner 24% 23% 23% Butter Bros 11% 10% 11 Castle, A M 154/s Cent 111 Securities pfd.. 8% 8 8 Cent & So West pfd 6 Chicago Corp com ... 2% Cities Service .. 32% 2% Commonwealth Edison.. .. ... 56 Cord Corp 6 5% 5% Gen Household Ut 13% 13% 13% Great Lakes Aircraft.. .. ... 7% Kingsbury .. 6% Libby-McNeil 6% 6% 6% Lynch Corp 32 31% 31% Marshall Field 17% Middle West Utilities % Vs Vs Mid West Util 6%pfdA % National-Standard 25% Noblitt-Sparks Ind. Inc 14% Public Service. N P ... 18 Quaker Oats 112% 112 112 Swift & Cos 17% 16% 16% Swift International.... 30% 29% 29% Utility & Ind pfd 4% Vortex Cup Cos 11% Zenith Radio 3% Investment Trust Shares (By Abbott. Hoppin & CO;) —April 28— Bid. Ask. American Bank Stock Corp .. 1.23 1.26 American & General Sec A ... 5.00 7.00 American & Inc Tr shares.. 1.75 Basic Industry shares 3.55 British Type Inv Tr shares 52 .60 Coollateral Trustee shares A.. 4.87 5.00 Corporate Trust shares (old).. 2.15 2.19 Corporate Trust shares (new) 2.42 2.46 Cumulative Trust shares 4.14 Diversified Trust shares A ... 6.25 Diversified Trust shares 8... 8.12 8.25 Diversified Trust shares C ... 3.25 3.30 Diversified Trust shares D .. 4.87 5.00 First Insurance Stock Corp.. 1.31 1.36 First Common Stock Corp... .82 .86 Fixed Trust Oil shares B ... 7.50 7.62 Incorporators Investments.. 18.62 18.87 Land Bank Bond shares 1.16 1.29 Low Priced Trust shares 6.60 Mass Inv Trust shares 19.42 21.11 Nation Wide Securities 3.48 3.54 North Am Trust shares (53) . 1.91 North Am Trust shares (55-56) 2.46 2.49 North Am Trust shares (58).. 2.50 2.55 Selected American shares 2.72 Selected American shares Inc 1.26 1.35 Selected Cumulative shares . 6.97 Selected Income shares 3.62 4.12 Std American Trust shares A 3.00 3.10 Trust Shares of America 2.90 2.95 Trustee Std Oil A 5.80 5.90 Trustee Std Oil B 5.25 5.35 U S Electric Lt &Pw A 13.12 13.37 Universal Trust shares 3.13 3.18 New York Bank Stocks (By Abbott. Hoppin & Cos.) —April 28— Bid. Ask. Bankers 66% 67% Brooklyn Trust 112 115 Central Hanover 136% 137% Chase National 30% 31% Chemical 41% 42% National City 31% 31% Corn Exchange 54% 55% Continental 14% 15 Empire 20 20% First National .....1,720 1,730 Guaranty 377 380 Irving 19 Vs 19% Manhatten & Cos 33 33% Manufacturers 23 23% New York Trust 106% 107% Public 34 34%

LIGHT, POWER COMPANY INCOME AT $1,707,450 Consolidated Gas Electric Shows Earnings at 51.21 a Share. By Times Special NEW YORK, April 30.—Consolidated Gas Electric Light and Power Company of Baltimore in its report for the quarter ended March 31, shows gross operating revenue of $7,840,169.35, against $7,298,080.26 for the same period last year. Net operating revenue amounted to $2,424,808.38 against $2,250,824.01 last year. After crediting other income, and deducting fixed charges for the three months, net income available iof dividends and general corporate uses amounted to $1,707,450.81, against $1,510,765.02 for the same period last year. The net income, after deducting preferred dividends, was equal to $1.21 per share on the 1.167,398 common share outstanding, against $1.05 a share in 1933. RETAIL SALES INCREASE 5 PER CENT IN WEEK • Revival of Luxury Buying Indicated by Novelty Purchases. By Times Special NEW YORK. April 30.—Retail sales last week averaged 5 to 8 per cent higher than in the previous week and 15 to 53 per cent higher than for the corresponding week of 1933, according to Dun & Bradstreet. Inc. Wholesale trade, according to the report, has turned quieter, despite a fair volume of fill-in orders and the more satisfactory total which road sales reached during the week. Hardware, leather goods, summer furniture, electrical supplies and groceries led in the retail sales group during the week, according to the report. Orders for novelties, musical instruments and jewelry indicate the revival of luxury buying.

SWINE MARKET RISES 10 CENTS; STEERSSTRONG Veal Prices Weak at $6.50 Down; Lamb Sales Unchanged. Porker values advance 10 cents from Saturday’s average in the initial sension of the week at the Union Stockyards this morning. Practically all grades on hand were active and receipts remained at a normal figure. General bulk of 160 to 325 pounds, was selling at $3.80 to $3.85, while several kinds were salable at $3.95, Small classes, weighing from 130 to 160 pounds, brought $3.10 to $3.60. Light slaughter pigs, scaling 100 to 130 pounds, sold at $2.15 to $2.90. Receipts were estimated at 7,000. Holdovers, 131. Early sales on beef steers in the cattle market were active and around 15 to 25 cents higher than the previous close. Bulk ranged from $5.75 to $7. She stock displayed little change. Other classes were dull and inactive. Receipts were 800. Weak undertone prevailed in the veal market, with the majority of classes mostly 50 cents lower. General run sold at $6.50 down. Receipts numbered 600. With the early supply consisting mostly of shorn western lambs, prices continued unchanged at around $9 down. Several kinds were inactive. Receipts were 800. Asking was strong on hogs at Chicago with no early bids or sales evident. Price range was undetermined. Receipts were estimated at 28.000, including 14,000 directs; holdovers, 2,000. Cattle—Receipts were 12,500; calves, 2,000; market, strong. Sheep receipts, 15,000; market unchanged.

HOGS April. Bulk. Top. Receipts. 24. $3.75® 3.85 $3.90 9,000 25. 3.90 C/ 4.00 4.00 7.000 26. 3.80® 3.90 3.90 7,000 27. 3.80® 3.90 4.00 6,000 28. 3.75® 3.80 3.90 2.000 30. 3.75® 3.80 3.90 2,000 30. 3.80® 3.85 3.95 7,000 Market, Higher. (140-160) Good and choice...? 3.30® 3.60 —Light Weights—-(l6o-180) Good and choice ... 3.85 (180-200) Good and choice ... 3.85 —Medium Weights—-(2oo-220) Good and choice.... 3.90® 3.95 (220-250) Good and choice.... 3.90® 3.95 —Heavy Weights—-(2so-290) Good and choice ... 3.90® 3.95 (290-350) Good and choice ... 3.70® 3.£0 —Packing Sows—(3so down) Good 3.00® 3.25 (250 lb.) Good 2.85® 3.15 (All weights) Medium 2.75® 3.00 —Slaughter Pigs—-(loo-130) Good and choice... 2.15® 2.90 CATTLE Receipts, 800; market, higher. (1.050-1,100) Good and choice $ 6.50® 8.00 Common and medium 4.50® 6.50 fl,loo-1,500) Good and choice 6.75@ 8.25 Common and medium 5.00® 6.75 (675-750)— Good and choice 5.25® 6.50 Common and medium 3.00® 5.25 <750-900) — Good and medium 4.75® 6.25 Common and medium 3.75® 4.75

—Cows— Good 3.50® 4.50 Common and medium 2.75® 3.50 Low cutter and medium 1.75® 2.75 —Bulls (yearlings excluded)— Good (beef steers) 3.00® 3.75 Cutter, common and medium. 1.75® 3.00 VEALERS Receipts, 600; market, lower. Good and choice $ 6.00® 6.50 Medium 4.00® 6.00 Cull and common f.so@ 4.00 —Calves — Good and choice 3.50@ 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle — Good and choice 4.250 5.75 Common and medium 3.00® 4.25 (800-1.5001-Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 800; market, steady, shorn basis. (90-lb. down) Good and choice $8.50® 9.00 (90-110 lb.) Good and choice . 8.50® 8.75 (.500 lbs. down) com and med. 7.00® 8.25 —Ewes— Good and choice 3.00® 4.00 Common and medium 2.00® 3.00 Other Livestock (By United Press) CHICAGO, April 30. —Hogs—Receipts, 28.000, including 14.000 direct; 5c lower than Friday; 180-250 lbs., $3.70®3.85: top, $3.90; 260-340 lbs.. 53.50® 3.75; 140-170 lbs., $3.2503.75: good pigs. 52.25®2.75; packing sows, $2.85® 3.10; light lights, 140160 lbs., good and choice. $3.2503.75; lightweights, 160-200 lbs , good and choice. $3.50 ® 3.90: medium w eights. 200-250 lbs., good and choice. $3.70®3.90; heavyweights. 250350 lbs., good and choice, $3.40® 3.85; packing sows. 275-550 lbs., medium and choice, $2.75® 3.30; slaughter pigs, 100-130 lbs., good and choice, s2®3 25. Cattle—Receipts, 12.500; calves. 2,000; medium and weighty steers, 25c higher; top. $9 paid for 1,427-lb. averages; inbetween grades predominating in run, most such kinds, with weight, seling at sß® 8.50; 2,016-lb. steers, 57.50; best yearlings. $8.30: all other killing clases unevenly firm to 25c higher; vealers about steady; slaughter cattle and realers: Steers. 550-900 lbs., good and choice, $6®7.75; 900-1.100 lbs., good and choice, $6®8.25: 1,100-1,300 lbs., good and choice, $7.25®8.75; 1,300-1,500 lbs., good and choice, $7.50®9; 550-1.300 lbs., common and medium. $.50®7.50; heifers, 550750 lbs., good and choice. $5.25®6.35; common and medium. $3.500 5.25; cows and good. $3,850.75; common and medium. $2.8504; low cutter and cutter cows, S2O 3; bulls, yearlings excluded, good beef, $3.50 ®3.85; cutter, common and medium. s3® 3.75: vealers. good and choice. $5.50 07; medium. s4® 5.50: cull and common. s3® 4: Stocker and feeder cattle: Steers, 550-1,050 lbs., good and choice, $4.75 06: common and medium, $3.500 5. Sheep—Receipts, 15,000: lambs slow; bulk wool lambs and clipped offerings around steady; buyers talking lower; wool lamb quality plain; bulk around $10; asking $9 for clipped offerings; sheep fully sieaoy to strong: shorn ewes up to $4; slaughter sheep and lambs: Shorn basis, lambs. 90 lbs. down, good and choice, $8.50®9: common and medium. $6®8.50: 90-98 lbs . good and choice. $8.25® 8.85; ewes, 90-150 lbs., good and choice. s3® 4; all weights, common and medium, [email protected].

FT. WAYNE. April 30—Hogs. 5 to 10 censt higher: 250-300 lbs.. $3.85: 200-250 lbs.. $3 80: 180-200 lbs.. 53.70; 160-180 lbs.. S3 70: 300-350 lbs,. $3.50: 150-160 lbs.. 53.35; 140-150 lbs., 53.10: 130-140 lbs.. $2.85; 12013 lbs.. 52.35; 10-120 lbs.. 52.10; roughs, $2.75: stags. $1.50. Calves, $6; lambs, $9.75 down. LAFAYETTE. April 30.—Hog market, 5 to 15c higher: 200-325 lbs.. $3.500 3.75: 160200 lbs.. $3.550 3.65: 140-160 lbs.. $3.10® 3.35: 125-140 lbs., $2.600 2.85; 100-125 lbs.. $l.B5 5 82.35; roughs. $2.75 down. Top calves. $5.50; top lambs. $8.50; spring lambs. $lO. (By Times Special) LOUISVILLE. April 30.—Cattle—Receipts 700: market active, fully steady to strong with last Monday on steers, heifers and beef cows or 25c and more higher than close la sk week; sausage bulls 25c lower than bulk common to medium grade steers and heifers, $4.25®. 5.50; most better finished kinds, $5.75® 6.10; latter for load 601-lb. weights: good 126-lb. steers. $7 with weight good, 1.269 lb. steers. S': 1.414-lb. average. S6; bulk beef cows. $3.250 4.25; good kinds to $4.50: low cutters and cutters mostly 51.50®2.75: sausage bulls. $3.75 down: stockers and feeders slow: better light herefords mostIv. $4 750 5.25; common to medium grade natives. S3O 4. Calves 650: steady to weak: bulk better vealers. SSO 5.50; strictly choice eligible. $6; medium and lower grades $4.50 down. Hogs—Receipts. 1.700: 10c higher than Saturday or steady with last Fridav: 170-240 lbs. $3 90: 245-270 lbs. 355: 275 lbs. up. $3 20: 145 -165 lbs.. $3 40; 120-140 lbs.. $2.05; sows. $1.95. Sheep—Receipts. 200; run mostly spring lambs: market generally steady: bulk better springers. $lO 500 11: medium and lower grades. $lO down to around $7 for common kind: better wooled lambs salable mostly SBO 9: cull to medium kinds. s4® 7; bulk better fat wooled ewes. s3®4. ARMS PARLEY DELAYED Geneva Steering Committee Postpones Session Until May 29. By United Press GENEVA, April 30.—The disarmament steering committee today decided formally to postpone the meeting of the committee itself and of the full disarmament conference until May 39.

U. S. Business Activity Nearing Peak of 1930

1,111.160 FARMERS SIGN CORN-HOG CONTRACTS Production Campaign Closed in All Leading States. By United Press WASHINGTON. April 30.—Approximately 1.111.160 farmers have signed contracts to reduce corn and hog production this year, the agriculture adjustment administration reported today. The production campaign has closed in all leading corn-hog states and will be terminated shortly in virtually all others, officials said. Indiana corn-hog raisers signed 30,000 contracts. Total payments will approximate $365,000,000, it was estimated.

RESERVE BANKS SET MEW HIGH RECORD $1,700,000,000 in Surplus Cash Is Reported. By Times Special CHICAGO. April 30.—A new record high of $1,700,000,000 in surplus cash in member banks of the Federal Reserve system was reached during the week ended April 25, the federal reserve board announced late last week. Gold stock also reached anew record high during the week, increasing $9,000,000 to $7,755,000,000. In addition, the treasury deposited $13,400,000 in gold certificates, bringing their holdings up to $4,490,000,000. At the same time, while deposits were piling up, reserve bank credit in use declined $7,000,000 and money in circulation dropped $23,000,000. The board, just prior to announcing the figures, made a public statement that “conditions may develop when, in order to prevent a recurrence of speculation excesses, it will become important for the central system to be in a position to rapidly absorb the excess reserves.”

NEW FIVE-YEAR RUBBER PLAN BOOSTS PRICES Broad Rises Made in London, Paris, Singapore and New York. Bis United Press NEW YORK, April 30. Announcement of an international five-year plan to regulate output of rubber in producing countries and to control rubber exports brought excited trading in various centers today. ' Rubber futures were up sharply in London at the best prices since June 3, 1930. Singapore rubber market had a broad rise. Rubber shares on the London Stock Exchange were moderately higher. They soared on the Paris Bourse. Excited trading on the commodity exchange in New York sent rubber futures up more than a cent a pound to new highs for four years. Rubber issues were up fractions to more than a point on the New York Stock Exchange. Goodyear reached 35%, up I*4. U. S. POWER BOARD READY FOR SURVEY Report Follows Parleys With Utilities on Data to Be Furnished. By United Press WASHINGTON, April 30. The federal power commission reported today that the groundwork for* its recently authorized electric rate survey had been laid after conferences with various public utilities concerning the data to be made available. The commission to study the situation both as regards publicity owned utilities and those privately owned Books and records of private companies must be scanned if the survey is to be of value, the commission reported. INCOME GAIN REPORTED Catalin Corporation First Quarter Earnings Total 849,242.62. By Times Special NEW YORK, April 30.—Catalin Corporation of America in the quarter ended March 31 had earnings of $49,242.62 after depreciation, interest and other charges, but before taxes. This compares with a profit of $2,230.24 in the first quarter of 1933. Present increase of the plant, ac- 1 cording to William Theile, president, will double the 1933 production capacity, to be completed by June. This increase is reflected only to a small extent in the first quarter earnings. On Commission Row —April 30 — —Fruits— Apples—New York Baldwins, fancy. $1.65 up: fanev Staymans, $2.25; fancy Winesaps, $2.50. South American Cherries—Crate. $3.50. Oranges—California Sunkist. $3®4.50; Floridas, $3.500 4. Lemons—Sunkist. $5.50. Grapes—South American, crate. $2.50. Grapefruit—Florida, seedless. 53.5004.25. Strawberries —Louisiana, 24-pt. crate, $2.50: Alabama, 24-qt. crate. $4.25. Melons—Argentina Honeydews, $3.25. Cantaloups—Pony crate, $4.50; standard (45i. $5. Pears—Calavos, $3.50 per box. Bananas—Per pound. 5%c. —Vegetables— Cabbage—New Texas, $1.35 per half crate; Florida red. S3 per hamper. Celery—Florida. $3 a crate, mammoth bunch. "85c; medium bunch, 45c; hearts, dozen bunches. 51.25. Onions—lndiana yellow. 50-lb. bag. $1 25. Potatoes—Northern round white. 100-lb. bag. $1.85: Red River Ohios, $1.85: Maine Green Mountain, $2.10: Colorado McClures. $2; Idaho Russets. $2 20: Wyoming Triumphs. 50-lb. bag. 90c; New Texas Triumphs. $1.85. Sweet Potatoes —Tennessee Nancy Halls, crate. $2. Asparagus—California fancy, crate. $3.75. Beans—Round, stringiest. $3; lima. $4.50. Beets—New Texas. 3-dozen crate. $1.75. Carrots—California. 6-dozen crate. $3.25; bulk new - . $1.50. Cauliflower—California. $2 25. Cucumbers—Hot house, per dozen, sl® 1.25. Lettuce—Hot house. 15-lb. basket. $1.50; Iceberg, best, $5 a crate. Peas—2 B-lb. hamper. $2.25. Radishes—Hot house buttons. 60c dozen. Rhubarb—Home-grown, dozen. 35c. Spinach—New Texas. 90c per bushel. Tomatoes —Repacked. 10-lb carton. $1.50; original Mexican. 30-lb. lug. $3 50.

CHICAGO FRUIT MARKET (Bv United Pressi CHICAGO April 3(.—Apples. Michigan spies. $1 7502: carrots. Illinois. 60 07 5c bushel; spinach. Texas. 40®75c bushel; Arkansas. $ 750 1: beans, southern green. $2.2503-10 bushel: wax, *3 2504 cucumbers, central western hothouse. $1.75® 2.25 >2 doz.); tomatoes, Florida. $2.50 ® 3 long box; sweet potatoes. Tennessee. $1.650 1.70; mushrooms, Illinois. 15® 35c Üb. cartons); asparagus, California. S2O 3 idoz. bunchi: Illinois flat crates. $lO 150; leaf lettuce, Illinois hothouse. 60® 75c GO lb). Onion Market (50 lb. sacksi: Western valencias. $i.106150; Michigan yellows. *9001.; Texas, yellows. *l3l*; Texas White*.

Industrial Output Carried to 90 Per Cent of 1923-25 Average. BY RICHARD L, GRIDLEY United Press Staff Correspondent WASHINGTON. April 30.—American business activity today neared the peak reached in the speculative boom last summer when activity at one time touched best levels since early 1930. Further expansion in business this week was believed to have carried the country's industrial output to at least 90 per cent of the 192325 average levels and within striking distance of the 100 per cent -level of last July. Activity in March, according to federal reserve board figures, reached 84 per cent of the 1923-25 average, the highest rate since last September. Foreign Trade Gains Further gains in both industrial activity and employment occurred in April and administration officials today predicted continued advance before the usual early summer contracting influences are felt. Growth in business during March was accompanied by a corresponding drop in unemployment. The American Federation of Labor reported unemployment in March fell to 10.905.000, a decline of 560,000 from February. Government officials refused to hazard opinions as to the long-term business outlook. New government steps to promote economic activity, they indicated, would be forthcoming should any substantial setback occur. Failure of commodity prices to respond to recent monetary steps was believed the greatest economic problem at the present time but there were no indications as to immediate steps in this connection. Greater than seasonal gains are occurring in practically all lines of business. Foreign trade in March reached the highest level in three years. Steel Output Soars Steel ingot output this week rose from 52 to 56 per cent of capacity. Steel circles expected output next week to exceed last year’s peak of 59 per cent. Auto output last week reached another weekly high at 91,664 units, against 49,653 a year ago. Bituminous coal output last week rose to 5,887,000 tons from 4,634.000 tons a year ago. Anthracite production was 1,273,000 tons, compared with 569.000 tons a year ago. Carloadings last week were 589.453 cars, a gain of 10,616 cars over the preceding week and 92.941 cars over the corresponding week of last year. N. Y. Coffee, Sugar Futures COFFEE —April 28— Santos High Low Close March 11.40 Mav 10.72 July ... 10.35 September 11.25 11.23 11.23 December 11.35 11.33 i1.33 Rio High Low Close Mav . 8.20 Julv 8.43 8.33 8.33 September 8.51 8.40 8.40 December 8.58 8.49 8.49 Sugar High Low Close January 1.61 March . 1.67 Mav .. 1.46 1.45 1.45 Julv 1.48 1.47 1.47 September 1.55 1.54 1.54 December 1.62 1.60 1.60 In the Cotton Markets —April 28— CHICAGO. High. Low. Close. January 11.58 11.53 11.53 March 11 68 11.62 11.62 Mav 11.12 Julv 11.29 11.19 11.19 October 11.43 11.29 11.31 December 11.55 11.43 11.44 NEW YORK January 11.54 11 44 11.46 March 11 65 11.52 11.52 May 1109 11.01 11.01 July 11.21 11.14 11.14 October 11.37 11.25 11.25 December 11.48 11.34 11.34 NEW ORLEANS January 11.46 11.41T* 11.45 March 11.60 11.51 11.51 Mav 11.01 10.97 10.94 July 11.19 11.07 11.10 October 11.34 11.22 11.23 December 11.46 11.33 11.36 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 2o cents per ton is allowed. Domestic Retail Prices 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 Pocahontas forked lump 925 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 •in.

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

Money to Lend on Real Estrte First Mortgage Loans on Indianapolis Property A. J. Wichmann & Cos., Inc. 712 Circle Tower

Abbott, Hoppin & Company 203 Continental Bank Bldg. Riley 5491 1 lndianapo,is eS& 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. YVoolling

APRIL 30,1924

GRAIN FUTURES SHOW STRENGTH ON CROP NEWS Wheat, Corn and Oats Gain Fractions: Rye Works Against Trend. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. April 30.—Unfavorable crop news tempered the influence of a lower stock market today and grains opened higher on the Chicago Board of Trade. Wheat was unchanged to *% cent higher; corn was unchanged to % cent higher, and oats was up Vi to % cent. Rye worked against the trend, off % to % cent. Cotton deliveries held about steady, while stocks opened irregularly lower. Chicago Futures Range —April 30— Wheat— Prev. High. Low. 10:00. close. May 80% .78% .79% .78% July 79% .78% .79% .78% Sept 80% .79% .80% .79% Corn— Mav .44% .44 .44% .44 Julv 41% .47 .47% .47% Sept 49% .48% .49 .48% Oats— Mav 28% .28% .28% .28% Julv 29% .28% .29 .28% Sept 29% .29% .29% .29 RyeMay 54% .53% .54% .54% July 55% .54% .54% .55% Sept 57% .56% .56% .57 Barley— May 38% .38% .38% .38 July .. .40 .39% Sept .. .41% .41

Cash Grain

Local Wagon Wheat City grain elevators are playing 67 cents for No 2 soft red wheat. Other grades on their merits. ■ (By United Press) CHICAGO, April 28.—Cash grain: Wheat —No. 2 red. 81 %c. Corn—No. 2 yellow. 46%c: No. 3 yellow. 46Uc: No. 5 yellow. 45c: sample. 38c. Old Corn—No. 2 yellow. 47c: No. 6 vellow. 44®44%c: lake No. 2 yellow. 46c. Oats —No. 2 white. 31 % 'a 32c: No. 3 white. 30’>® 30%c: No. 4 white. 28%c." Rve—No sales. Bariev —70® 77c: Quotable. 40'</80c. Timothy—s64(6.so. Clover seed—slo''/ 11. Cash provisions— Lard, $5.82: loose. $5.40: leaf. $5.50; bellies. $7.75. TOLEDO. April 28.—Grain close. (Grain in elevators, transit billing.) Wheat—No. 2 red. 81 1 ■'7 82%c. Corn—No. 2 yellow, 514/ 52c. Oats —No. 2 white. 34%® 35%c. Rve—No. 2. 59% 4160 %c. Track prices. 28%c rate. Wheat—No. 1 red. 77%4/78c; No. 2 red. 76%4/77c. Corn —No. 2 vellow. 46 I >4/47%c; No. 3 vellow. 45%®46%c: No. 4 vellow. 44%4/ 45%c. Oats—No. 2 white. 30%'// 32%c: No. 3 white 30®32%c. Seed close: Clover—Cash. $8.25. Alsike—Cash. S8 50. CHICAGO PRIMARY RECEIPTS —April 28— —Bushels— Today. Last week Wheat 242.000 320.000 Corn 278.000 276.000 Oats 92.000 86 000 Interest Rate Reduced By Times Special CHICAGO. April 30.—Reduction of interest rates on savings deposits was approved by member banks of the Chicago Clearing House Association at a meeting held here ’ate last week. Steel Earnings Climb By United Press CHICAGO. April 30.—Net earnings of the National Steel Corporation in the first quarter of the current year amounted to $1,642,327 after charges, against $280,844 in the corresponding period last year.

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