Indianapolis Times, Volume 46, Number 3, Indianapolis, Marion County, 15 May 1934 — Page 13

MAY 15, 1934.

SWINE MARKET DIPS 20 CENTS AT STOCKYARDS Cattle, Lamb Prices Weak: Vealers Steady at $6 Down. Extremely heavy receipts on hand in early trading at the Union Stockyards this morning sent porker prices sharply 20 cents lower than yesterday’s average. • Following the sharp decline practically all classes of hogs were at new' low prices for the year. The bulk of 160 to 350 pounds was salable from $3.45 to $3.55, while better kinds sold at $3.60. Demand continued irregular with only a few buyers making early purchases. Light slaughter pigs, weighing from 130 to 160 pounds, brought $2.65 to $3.15, while smallest weights, ranging 100 to 130 pounds, were selling at $2 to $2.40. Receipts were estimated at 10,000; holdovers, 654. Trading developed slow- in the steer market with only little action evident. Initial bidding was around 15 to 25 cents lower than the previous close. She stock continued unchanged. Receipts w ere 1.500. Veal prices displayed only a slight change, selling at $6 down. Receipts numbered 900. Uneven trading range featured the lamb market, with shorn grades mostly 25 cents lower and other kinds stationary. Shorn lambs were salable at $8.35, and springers ranged from $9 to $lO. Sheep held at $3 down. Receipts were 1.000. Initial asking on hogs at Chicago was strong and bids w'ere scarce. Receipts were estimated at 22.000. including 9,000 directs; holdovers, I. Cattle receipts were 6,000; calves, 3.000; market steady to strong. Sheep receipts numbered 5.000; market unchanged. HOGS May. Bulk. Top. Receipts. 8 *3.65*! 3.75 $3.80 5.500 3. 3.55*1 3.70 3.75 5.000 10. 3 50*; 3 65 3.70 6.000 11. 3 55*1 3,70 3 75 5,500 12. 3.85*1 3.75 3.75 1.500 14 3.65*; 3.75 3 85 7,000 15. 3.45*1 3 55 3.60 10,000 Market, Lower * 140-160 Good and choice $ 2.9o'S' 3.15 —Light Weights—- • 1 60-1 80 Good and choice.... 345 (180-2001 Good and choice ... 3.50 Medium Weißhts — i2OO-220i Good and choice ... 3.55*; 360 (220-250) Good and choice ... 3.75© 3.85 —Heavy Weights—-(2sO-290i Good and choice ... 3 75® 3.80 (290-350; Good and choice ... 3.45®. 3.55 —Packing Sows—(3so down' Good 2.85*7 .3.10 1 250 lbs. I Good 2.75*; 3 00 (All weights) Medium 2.50® 2.75 —Slaughter Pigs)— (100-130) Good and choice CATTLE Receipts, 1,500; market, Lower. 11.050-1,1001 Good and choice $ 6.75 ft? 8.25 Common and choice 4.SO'!! 6.75 (1,100-1,5001-Good and choice 7 00*7 9.00 Common and medium 5.50© 7.00 (675-750) Good and choice '. 5 25*7! 6.50 Common and medium 3 00*4 5.25 (750-9001 Good and medium 4.75*7 6.25 Common and medium 3.75© 4.75 —Cows— Good 3 50*7 4.50 Common and medium ..... 2.75*; 3.50 Low cutter and medium 1.75*4 2.75 - Bulls )yearlings excluded) Good (beef steers! 3.00*7 3.75 Cutter, common and medium.. 1.75*i 3.00 VEALERS Rercipts. 900; market, steady. Good and choice 5 5.50*7 6.00 Medium 3.50*;. 5.50 Cull and common 2.00*4 3.50 —Calves— Good and choice 3.50*7 5.00 Common and medium 2.00*;, 3.50 —Feeder and Stocker Cattle— Good and choice 4.50*7 6.00 Common and medium 3.00*4 4.50 (800-1.500) Good and choice 4.50*7 6.00 Common and medium • 3.00*/ 4.50 SHEEP AND LAMBS Receipts, 1.0(11); market. Lower. iShorn basis) Spring lambs $ 8 50*710 00 i9O-lb. down' Good and choice 8.25*; 8.00 (90-100-lb i Good and choice . B.uo® 8.25 (500-lb. downi Com. and med. 6.50*4 8-00 —Ewes— Good and choice 2.50*7 3.50 Common and medium 1.50*4 2.50 Other Livestock ißy United Press; CHICAGO. May 15—Hogs—Receipts. 22.000. including 9.000 directs; moderately active; steadv to 5c lower than yesterday; 160-340 lbs.. $3.40*13.70; top $3.70 for best 200-240 tbs.; most pige. 52.50 down; packing sows. $2.75*i 3: light lights, 140-160 lbs., good and choice. S3.lo'<; 3.60; light weight 160-200 lbs., good and choice. $3.40 *; 3 70; medium weights, 200-250 lbs., good and choice, $3.55*; 3.70; heavy weights, 250-350 lbs., good and choice. S3 35*; 3 70: packing sows. 275-550 lbs., medium and choice. $2 50*i 3.20: slaughter pigs, 100-130 lbs. good and choice, $2*i3.10. Cattle —- Receipts. 6.000: calves. Receipts. 3.000; medium weight and weighty steers in moderate supply; steadv but more active; vearlings and light steers, strong to 25c higher with lower grade light steers and yearling showing most upturn: best weighty bullocks. $8.50, these comparable with $9 50 kinds at recent high time: most hpavies. s7*; 8.25: extreme lop. 58.60 for 1.262-lb averages; other killers steady: hest heifers $7; slaughter cattle and vealers: steers 550-900 lbs., good and choice. $5.75*i 7.75: 900-1.100 lbs., good and choice. *6"; 8.50: 1.100-1.300 lbs., good and choice. $6.50®9; 1.300-1.500 lbs., good and choice. $6 75*t9: 550-1.300 lbs., common and medium. 54.50'-; 6.75; heifers. 550-7. r .O lbs., good and choice. $5.25*/6.75: common and medium. s3.so*t 5.25: cows. good. $3.75*; 5; common and medium. $2.65*; 4; low cutter and cutter. 51.50*1,2.65: bulls, yearlings excluded, good beef. Si 25*; 3.75; cutter, common and medium. *2.50*; 3.35: vealers. good and choice. Ss*i6 50; medium. $3.75*; 5 50. cull and common. s3© 3.75; Stocker and feeder cattle: steers 550-1,050 lbs., good and choice. $4.75*; 6; common and medium. $3.50*; 5. Sheep- Receipts. 3.000: generally steady on slaughter classes: practical top native springers. $lO 25: bulk $lO downward, all bucks at $1 discount; top wooled lambs. $9.15. medium to near choice clipped lambs. s7*, 7.75: lightweight shorn ewes. $3.25*; 3 50: slaughter sheep and lambs: spring lambs, good and choice. s9*; 10.25: medium. $8.25-19; lambs 90 lbs. down, good and choice. $7.50 .; 8.10; common and medium. $5.75*; 7.60: 90-98 lbs. good and choice, $7 65*; 8 ewes. 90-150 lbs . good and choice. $2.50*; 3.50: all weights, common and medium. $1.25*; 3. FT WAYNE. Mav 15—Hogs, steadv to 20c lower: 250-300 lbs . $3:60: 200-250 lbs . $3 50 140-150 lbs . $2 75. 160-200 lbs . $3 40; 300-350 lbs.. $3.25: 150-160 lbs. $3: 130140 lbs.. $2.50: 120-130 lbs. $2: 100-120 lbs $1.75: roughs $2 50; stags $1.25. Calves $5.50: lambs $9 down. LAPAYETTE, Mav 15.—Hogs—Market. 10*; 20c lower. 200-300 lbs* $3.40; 160-200 lbs $3.25*; 3.30: 140-160 lbs . $2.65*; 2 90; 120-140 lbs.. $2.154;2.40: 100-120 lbs . $165 hi 1.90: roughs. $2 75 down. Top calves. $5 Top lambs, $8.50; spring lambs. $9 © 10. CINCINNATI, May 15.—Hogs—Receipts. 3 700 including 127 direct and through. 85 holdover; early sales. 180-300 lbs.. S3 80 or 10c lower than yesterday; lighter weights unevenly steady to mostly 15c oft: better 150-180 lbs.. $3.25*;3.60; 130-150 lbs $2.50*; 3: bulk good packing sows, *2 25*; 2.50 Cattle—Receipts. 450: calves, receipts. 750: most classes around steadv with Monday; grassy off*rings slow and weak: bulls shade lower: fat steers and heifers mainly $5.50'-; 6.25; small lot handvweight heifers. $6 35: fat cows. s3<; 4- low cutters and cutters, $1.50*; 2.75; bulk sausage bulls. $2 75*;3.65: odd head. $3.75: opening calf trade steady with god to cnoice vealers. ss*; 6: later mostly from $5.75 down. Sheep—Receipts. 700: generally 25*t50c lower than yesterday: earlv sales better spring lambs around slo,'few $lO 25: few shorn lambs. SB, and odd head fat cliped ewes. $2*t2.50. (By Times Special LOUISVILLE. May 15—Cattle—Receipts. 175: market, slow; mostly steadv: bulk, common to medium, steers and heifers. s4'.; 5; good drvfeds quotable to $6 25: bulk beef #ow*. $2.(5*;3.50: good smooth offerings. eligible. $3.75 or better: low cutlers and cutters, $1.25*; 2 50: sausage bulls. $3 25 down: most well bred light Hereford and Shorthorn stockers. $4.50*; 5; common to medium grade natives. $2.75*; 3 75. Calves —Receipts. 350: mostly 50c lower on *ealers at $4.50 down: few strictly choioa, $5 Hogs—Receipt?. 900: market, mostly 5c lower: weights from 120-140 lbs . 40c higher: top and bulk. 185-275 lbs . $3 70fjSG lb. up. $2 90 1 60-180 lbs . $3 40: 145-lH ,b#.. $3 IS: 120-140 lbs.. $2 25 100115 lb.. $150; sows. $1 70 Sheep— Receipts— run curtailed because of rainy w ratter: market not established: most bids on spring lambs. 25c lower, with sellers generally holding for steady prices, and Asking $lO 25 for bulk better trucked In ewe and wether springers: other classes unchanged, medium to good clipped lambs, $6&7. fat ewes. $2&3.

Market Average m m m Twenty Active Issues Listed on the N. Y. Stock Exchange.

AIL Chemical Am. Smelting Am. Can Am. Telephone Am. Tob B Atchison Chrysler Con. Gats N Y DuPont Goodyear

MARCH „ APRII „ MAY I H u *♦ n * * '* N SO 7 71 _____________ Jfl 4 I * : l I 7 " =: ==zizh- 11 i ™ 1 ~— ——... I* l ;jm 1:|1 -1-.——'-- i; I ‘1: W'VV,.! , t (|t"'•>!:■-K-tSi, I ’I 1: ' | 1111 111 ", ,"| >|, ■: *o —t — 1 L.J.—;<* —— I--- —rh— i * ‘ . Iff)ug?~3RAOCO A ft , •* I-... I. ——~ . ... .ft 5 oo “frjouyif L J p - t lATuaoAv r- | In g o*oo ... ■■■ —l] i IL 1 )—I 1 E

This daily record of the movements of twenty active stocks, averaged, gives a clear view of the market trend. Long pull movements and daily variations are apparent at a glance.

ft Low Priced Car Output Far Ahead of Last Year

Three Leading Firms Report Production at 665,566 in Four Months. By Times Special CHICAGO, May 15. —Reports of makers of the three leading low priced cars, representing between 70 and 75 per cent of the entire car production, show output in the first four months of the current year is far ahead of the same period a year ago. The three, Chevrolet, Ford and Plymouth, had a total production of 655,566 passenger cars, trucks and commercial cars in the first thirty of the year. Chevrolet was the leader in the United States, disposing of 281,033 of the number against 184.138 in the corresponding 1933 period. Ford sold 278,533 against 107.699 throughout the world in the first four months last year, and Plymouth is unofficially reported to have dsiposed of 96.000 units this year as compared with 45,150 last year. The Ford Motor Car Company reports May production at present is far ahead of any of the first four months, with the plants running at the rate of 5,000 units a day. A total of 110,000 units is expected to be put on the market this month against a total of 46,448 units in May, 1933. Registration of new cars during April, in seventeen states, representing 17.97 per cent of the country, totaled 40,666 new automobiles, an increase of 88.57 per cent over the same states last year. Truck registrations in the same states amounted to 8.526 units, an increase of 121.57 per cent. The estimates are made by the R. L. Polk & Cos. The company’s estimate of total new car registrations for the United States during April was 225.000 units, and the total for trucks 37,000. LOW-PBICED TIRES RISE 20 PER CENT Boost Intended by NRA to Aid Small Dealers. By Times Special CHICAGO. May 15.—Effectiveness of the tire code in the United States yesterday caused an increase of approximately 20 per cent in the sales price of third-line tires. The boost, intended by the NRA ! to aid the smaller dealer, applies to mail order houses as well as general tire dealers. The mail order prices, however, continue to be approximately 10 per cent under the general level, the same ratio which has been maintained for some time. The small dealers, it is said, get the bulk of the third-grade business, but are expected to face greater competition in the future from dealers in first and second-grade tires, because of the narrowed price spread. Price of the latter two remained unchanged. INVESTMENT SECURITIES LOWEST SINCE JANUARY Average of Ten Leading Common Trust Stocks Down to 12.59. Bi/ Times Special NEW YORK. May 15. tment trust securities registered further declines during the past week carrying the averages to the lowest levels since early in January. The average for the common : stocks of the ten leading jnanagement trusts, influenced by the leverage factor, as compiled by Allied Distributors. Inc., stood at 12.59 as of the close May 11, compared with 14.06 on May 4. The average of the nonleverage stocks stood at 14 89 as of the close May 11, compared with 15.58 at the close May 4. The average of the mutual funds closed at 10.29 compared with 10.96 at the close of the previous week. Fur Production Rises By Times Special NEW YORK. May 15.—An increase of approximately 40 per cent in production of fur manufacturers was shown during 1933. according to Dun Bradstreet. Fur values, the firm reports, gained approximately 25 per cent. New Bonds Are Offered ; By Tim * Sp cial CHICAGO. May 15.—A new issue of $1,100,000 City of Minneapolis 3 1 - and 4 per cent bonds issued for sewage disposal system requirements. is being offered by a syndicate here headed by Phelps Fenn & Cos.

IntT Harvester Johns-ManvtUe Nat. Biscuit Pub. 8. ot N J Sears Roebuck Stand, ot N. J. Un. Aircraft TL S. Steel Union Pacific Westinghouse

Bright Spots

(By Abbott, Hoppln & Cos.)

Northern Pipe Line Company declares the regular semi-annual dividend of 25 cents a share on the common stock. Pathe Exchange Company, Inc., and subsidiaries in thirteen weeks ended March 31 earned $1.76 a share on the X per cent cumulative preferred stock, against a net loss of $17,849 in the corresponding period of 1933. Northern States Power Company and subsidiaries February net income totaled $586,621 after all charges against $677,008 in the same month last year. Daily average production of crude oil in the United States in the week ended May 12 totaled 2,564,675 barrels, an increase of 97,305 barrels over the previous week. Reo Motor Car Company and subsidiaries in the quarter ended March 31 had a net loss of $273,881 after all charges against $459,245 in the similar 1933 quarter. Chesapeake & Ohio Railroad Company car loadings in the week ended May 12 totaled 20,413 cars, against 17,310 cars in the corresponding 1933 week. World sales of Ford passenger cars and trucks in the first four months of the current year totaled 278,553 units, against 107,699 units in the like 1933 period. Atchison, Topeka & Santa Fe Railroad Company car loadings in the week ended Mav 12 totaled 22.801 cars, against 21,677 cars in the similar 1933 week. Produce Markets Delivered in Indianapolis Prices—Hens, lie; Leghorn hens, 9c; Leghorn springerstags. 6c; large springer-stags. 9c: cocks, 5 lbs. and over, sc, under 5 lbs., 4c; ducks, full feathered and fat, 4% lbs. and over, sc: geese, 4c; young guineas, 1% to 3 lbs., 20c; old guineas, 15c; No. 1 strictly fresh country run eggs, loss off 13c each full case must weigh 5 lbs. gross: a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1, 27@28c; No. 2. 25@26c; butterfat. 20c.— Quoted by Wadley. (By United Press) CHICAGO. May 15.—Eggs—Market unsetled. Receipts. 30,662; extra firsts, 16%c; fresh graded firsts. 16 1 1 c; current receipts, 13%c® 14%c; dirties. No. 1. 13%c; No. 2, 13: checks. No. 1, 14: No. 2. 13. ButterMarket unsettled. Receipts, 10,086; extra firsts i9O-90% scorei. 22' t *; 22%r; firsts (83-89’, 2 scorei. 21%©22c; seconds 18687% score). 21c: extras. (92 score), 23c; specials. 23%@24: standards. 23c. Poultry—Market, weak; receipts, 47 trucks, 1 car due; hens, light. 14c; old roosters, 7'2c; geese. 6c: broilers leghorn, 18*; 21c; turkeys. 18c: heavy ducks, spring. 11*; 13c; leghorns, 10*; 11c; rock fryers, 25c. Cheese —Twins. 12%©12%c: daisies. 13*;13’ic: longhorns, 13%@13%. Potatoes —Old stock—Supply moderate: demand and trading moderate; market, about steady; Idaho russets slightly spotted. 2 cars, $1.25 1 car. $1.30; 1 car, $1.32’/2; 10 cars, $1.35; Washington russets, 1 car. $1.25; Colorado McClure, spongy, 1 car. 51.40; Wisconsin round whites, cotton bags, 1 car. $1.20. New stock—Supply moderate; demand and trading slow; market dull; Alabama triumphs. 1 car. $2.10;. 2 cars, $2.15: Louisiana triumphs, 1 car, fine quality. $2.40. Arrivals, 94; on track, 256; shipments, 583. CLEVELAND, May 15—Butter—Market barely steady; extras, 27c: standards. 27c. Eggs—Market, barely steady: extra white, 14%c; current receipts. 14c. Poultry—market, steady; colored fowl 6 lbs. and up. 14c; colored fowl medium, 16c; Leghorn fowl. 3’ 2 lbs. and up. 14c: fowl light, 12c; broilers colored ordinary, 23®24c; old roosters, 10c; ducks white 5 lbs. and up. 15c: ducks light old, 13c: broilers fancy rocks. 27® 28c; broilers Leghorn, 21® 22c; broilers Leghorn light. 18*; 20c. Potatoes— Florida mostly $5.50 per bbl.: Maine. $1.75 *;1.85 per 100-lb. sack; Idaho, $1.75*; 1.85 per lf.O-lb. sack; Ohio $1 50 per 100-Ib. sack, few lower; New York best $1.65 per 100-lb. sack. NEW YORK. .May 15.—Potatoes firmer. Long Island. $1.75® 1.90 bbl.; southern. 52.30*;5 bbl.: Maine, $1.25*; 2.60 bbl.; Idaho. $1.95*; 2 sack. Sweet potatoes, steady. Jersey basket, s.6o*; 2: southern baskets, $ 40® 1.90. Flour, quiet. Springs: patents. $6.65® 6.90 bbl. Pork, steady. Mess, 520.20 bbl. Lard. easy. Middle west spot, $4.15*; 4.25 per 100 lbs. Dressed poultry, steady. Turkeys. 12® 26c; chickens. 9%®27c; broilers, 18®27c: capons, 21*; 34: fowls, 12® 17c; Long Island ducks. 15® 16c. Live poultry, quiet. Geese. 6*; 7c; turkeys. 10® 17c: roosters, 9c; ducks. 8® 10c: fowls. 14*; 17c; capons, 22c: broilers. 10® 23c. Cheese, quiet. State whole milk, fancy to specials. 18*; 19c; young America. 16%®13%c. Butter —Receipts, 22.452 packages. Market, steady: creamery. higher than extras. 24%c® 25' ® extra, (92 scorei. 22%©23c: centralized. 1 90 scorei. 23 1 4® 23'2c; centralized, 188 to 89 scorei, 22%®23c. Eggs—Receipts. 42.851 cases. Market, irregular. Special packs, including unusual hennrrv selections. 19®20%c; standards. 18%c: firsts, 17c: second, 16%c; mediums, 15%©15%c: dirties. 15‘ 2® 15 3 4c; checks. 15c; storage packs, 17 ’ ® 17 3 4C. On Commission Row —May 15— —Fruits— Apples—New York Baldwins, fancy. $1.85: fancy Ben Davis. Indiana $1.75; fancy Winesaps. $2.15*; 2.50. Cherries —California, 15-lb. bag. $3.50® 4.25. Lemons—Sunkist. $6 50: Red Ball, $6 Grapes—South American, crate. S3. Grapefruit—Florida, seedless. $3.75® 4 25. Strawberries Mississippi. 24-at crate, $2.50; Tennessee 24-qt. crate, $2®2.50. Melons—Argentina Honeydews. S3. Cantaloupes Pony crate. $2.25® 2.50: jumboes. 455. $3.25: standards. $2.75® 3. Pears—Calavos. $4 per box. Pineapples—Cuba, all sizes, crate, $3 25. Bananas—Per pound. sc. Raspberries, Cal.. 12: 1 2 pts.. $2 50. —Vegetables— Cabbage—Louisiana, $2 crate; Florida led. $2.50 per hamper. Celery—Florida. $3.15 a crate, mammoth bunch. 90c; medium bunch. 45c; hearts, dozen bunches. $1.25. Onions —Indiana yellow. 50-lb. bag. 75c Potatoes—Northern round white 100-lb bag. $1.75: Red River Ohios. 51.75: Maine Green Mountain. $2.10: Colorado McClures. $1.90; Idaho Russets. $1.90; Idaho Russets. 100-lb. bag. $1.90; New Texas Triumphs. $1.90. Sweet Potatoes—Tennessee Nancy Halls, crate. $2. Asparagus—Home grown, dozen. 50® 85c Beans —Round, stringlcss. 51.75®2. Texas, 3-aozen crate, $1.75. Carrots —California. 6-dozen crate. 32.75; bulk, new, $1.60. Cauliflower—California. $1.90. Lettuce —Hot house. 15-lb. basket, sl.lO. Iceberg, best. s4® 5 50 a crate. Peas—2 B-lb. hamper, 52.25. Radishes—Home grown buttons. 40c a dozen. Rhubarb—Home crown, dozen. 30c. Spinach—Home grown, bushel. 90c. Tomatoes—Repacked. 10-lb. carton. $1.50: original Mexican. 30-ib. lug.. $3.50 CHICAGO FRUIT MARKET ■By United Press. CHICAGO. May 15.—Apples—Michigan spies. *l.6b*i 2 bushel. Carrots—lllinois. 65 *1 75c bushel. Spinach—lllinois. 50*; 75c bushel. Beans—Southern green. 75c ■; *1.50 bushel; wax. 50c® $1.50. Cucumbers— Central Western hothouse. *1 60 :2.25 <2 dozen to box. Tomatoes—Florida. $2 25® 3 lug box. Sweet Potatoes—Tennessee. *1.65® 1.70 hampers. Mushrooms—lllinois. 20*;45c (lb. cartons.. Onion Market—(so- - sacks'. Texas Yellows, 90c®51.16: Texas Whites. 90c©51.20. California whites, $1.25® 1.35.

THE INDIANAPOLIS TIMES

WHEAT PRICES RISE SHARPLY ON CROP NEWS Major Grains Advance Cent; Corn, Oats Move Up Fractions. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, May 15.—Crop news throughout agricultural America continued unfavorable and wheat prices on the Chicago Board of Trade advanced sharply at the opening today. Wheat was \ to a cent higher, corn was up hk to % cent, oats were ’a to U cent higher, and rye was up *8 to Tz cent. No moisture was indicated overnight in the northwest and Canada and complaints poured in anew from the southwest. The trade, however, was inclined to caution with the announcement the commodity bill had been placed in the “must” legislation list in Washington. Liverpool opened firm. Chicago Futures Range —May 15— Wheat— Prev. High. Low. 10:00. close. May 88 .87% .88 .86% July 86% .85 3 8 -86' 4 .84 7 Sept 87', 4 .86' 8 .87 .85% Corn— May .46' 2 .46* 4 .46' 4 .46 July 43 it .48% .48% .49*4 Sept 50*4 .4918 ,50'/4 ,49'z Oats — May 34 ’2 .33*4 .34’, .33 7 8 Julv 33 '4 .32*4 .33*4 .32 1 2 I Sept 33 1 4 .32% .33% .32% j Rye— Mav 56% .55 3 4 .56% .55% July 57*2 .56% .57% .56% Sept 58% .58 .58% .57% Barley— May .. •• .40', 2 July •• 43 .42% j Sept 43% .43% 43% .43% CHICAGO PRIMARY RECEIPTS —May 14 — —Bushels— Today. Last week. Wheat 640,000 394,000 Corn 378.000 462,000 Oats 368,000 140,000

Cash Grain

INDIANAPOLIS —May 14— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b. shipping point, basis 41 % New York rate, were: WHEAT—Weak; No. 1 red, 78%®80%c; No. 2 red, 77%@79%c; No. 2 hard, 77% ®79%c. CORN—Weak: No. 2 white. 44%@46%c; No. 3 white, 43„%@45%c; No. 2 yellow, 42 Oi 44c; No. 3 yellow. 41® 43c: No. 2 mixed, 41® 43c; No. 3 mixed, 40® 42c. OATS—Weak; No. 2 white, 30%@31'%c; No. 3 white, 29%@30%c. —lnspections WHEAT—No. 1 red, 2 cars; sample, 1 car: total, 3 cars. CORN —No. 2 white, 5 carsr No. 3 white, 3 cars; No. 4 white, 1 car; No. 2 yellow, 24 cars; No. 3 yellow, 10 cars; No. 4 yellow, 5 cars; No. 5 yellow, 3 cars: sample yellow, 1 car; No. 3 mixed, 1 car; total, 53 cars. OATS—No 2 white, 21 cars; No 3 white, 5 cars; No. 4 white, 3 cars; sample white, 2 cars; total, 31 cars. Local Wagon Wheat City grain elevators are paying 74 cents for No. 2 soft red wheat. Otner grades on their merits. (By United Press) CHICAGO, May 14.—Cash grain: Wheat —No. 2 hard, 86%c: No. 5 hard, 83%c; sample grade hard. 81%c; No. 5 northern, 2 yellow old, 49%c; No. 2 yellow lake. 84c; No. 2 mixed, 87%c. Corn —No. 2 48%c: No. 3 yellow, 48c; No. 2 white, 54c. mixed, 47'%©48c; No. 2 yellow, 49c; No. Oats—No. 2 white, 34@34’_.c: No. 3 white, 33@33'4c; No. 4 white, 31%c, Rye—No. 2, 60%@ 61c. Barley—Sale, 78c; qoutable, 44 ® 82c. Timothy—s6.so® 8.75. Clover seed—slo® 13.50. Cash provisions—Lard, $6.05; loose, $5.62: leaf, $5.62; bellies. $7.87. ST. LOUIS. May 14.—Cash grain: Wheat —ln fair demand, lc lower on red and %c low’er on hard: No. 2 red, 84c, nominal; No. 3 red, 83©83%c; No. 4 red, 83'%c; No. 5 red, 81c: No. 4 red garlicky. 81%c; No. 2 hard. 85c. nominal. Corn—ln slow demand, l%c lower; No. 1 yellow, 50c; No. 2 yellow. 50c; No. 3 yellow, 49%c; No. 1 white.' 53c; No. 2 white. 53c. Oats—ln slow' demand, lc low'er: No. 3 white. 34c. TOLEDO, May 14.—Grain close: (Grain in elevators, transit billing): Wheat—No. 2 red. 88® 89c. Corn—No. 2 yellow, 53@ 54c. Oats—No. 2 W’hite. 39®40c. Ryo— No. 2, 61 %®;62%c. (Tr. prices, 28%c rate): Wheat—No. 1 red. 84@85c; No. 2, 83® 84c. Corn —No. 2 yellow, 48%®49%c: No. 3 yellow, 4?%® 48%c: No. 4 yellow, 46 ®47%c. Seed close: Clover—Cash, $8.25. Alsike—Cash, $8.50. NEW YORK. Mav 14.—Cash grain: Wheat—No. 2 red. $1.03%: No. 2 hard winter, $1.04%. Corn—No. 2 mixed, 54%c. Oats—No. 3 white, 41 %c. E. R. SQUIBB AND SONS’ NET EARNINGS HIGHER Income Amounts to 51,124,455 After All Charges in 1933. By Times Special NEW YORK. May 15.—E. R. Squibb & Sons, manufacturing chemists, report for the year ending Dec. 31, 1933, net earnings of sl,124,455 after all charges, including depreciation and all forms of taxation and profit-sharing distribution to Sqifibb plan shareholders. These earnings were equivalent to approximately three and one-half times the preferred dividend requirements and represent $1.77 a share on the 450,949 shares of common stock outstanding after payment of the $6 preferred dividend on 56.303 shares. In 1932 net earnings of the cornpan ywere $1,236,457. The decline, it was pointed out. was due to somewhat lower sales because of the credit situation and the refusal of E. R. Squibb & Sons to sell to dealers who demoralized the market. Cash on hand was $1,757,764 which amount remained after the investment of $908,427 in the bonds and controlling stock of the Jones Estate Corporation and the expenditure of $109,677 incidental to taking control of that company. The cash on hand of $1,757,764 compared with $2,031,769 for 1932. BETTER BUSINESS SEEN FOR HAWAII. ALASKA Tourist Travel Reported Nearing Monthly Totals of 1929. By Times Special CHICAGO. May 15.—Hawaii and Alaska report an encouraging business outlook for this year, based on the largest seen in two years and improvement in certain basic industries, according to a weekly comment on far western business by the Bank of America, Pacific Coast branch banking institution. Tourist travel, one of the principal sources of revenue in the Hawaiian Islands, is said to be approaching monthly totals not seen since 1929. The decline in the. value of the American dollar on foreign exchange and improved business conditions in the United States are said to be responsible for the sharp increase. The current pick-up, Hawaiian business men predict, indicates a doubling of last year's traffic when approximately 10.000 visitors spent an estimated $5,000,000 in the territory. Transit Firm's Earning* Rise NEW YORK. May 15.—Net earnings of the Brooklyn-Manhattan Transit Company for the March quarter amounted to $1.91 a share as compared with $1.76 in the first quarter of 1933.

New York Stocks

AVERAGE STOCK PRICES FOR MONDAY Net High. Low. Close, change Thirty industrials 92.95 89.10 91.81 -.41 Twenty rails 41.83 40.35 41.40 r. 29 Twenty utilities 22.58 21.72 22.30 +.19 Forty bonds .... 93.23 —.35 Ten first rails .... 99.80 —.27 Ten second rails .... 80.47 —.64 Ten utilities •••• 96.79 —.05 Ten industrials .... 95.87 —.42 + Up. -Off.

—May 15— * Prev. Oils— High. Low. 10:30. close. Amerada 48 Atl Rig 22% 22% Barnsaall ... . 7% Consol Gil •• 10% 9% Cont of Del ... 18% 18 18 18% Houston (.new) 3% Houston (oidj.. .. ... ... 18% Mid Cont Pet 11% Ohio Oil 11% 11 Pet Corp • • 10% 10% Phillips Pet 17% 17% 17% 17% Plymouth Oil 10% H, Pure Oil 10 lu% Royal Dutch 34% Sbd Oil ••• 33 32% Shell Un ... 8% 8% Skelley Oil , „ 9 % Soc Vac 14% 14% 14% His S O of Cal 31% SO of Kan , 39% SOof N J 41% 42% Texas Corp 22% Tidewater Assn 11% 11% Un Oil of Cal.. 15% 15% 15% 10% Steels— Am Roll Mills 17% 17% Beth Steel ; 34‘/a 33^/s Byers AM 20% Col Fuel & Iron 4 Cruc Steel 21% McKeesport Tin 84% Mid Steel Natl Steel 41% Otis Steel 4% Rep iron & Stl 16% !*>./* R L & Stl pfd 45% U S Pipe & Fdy 21% 21% U S Stei 41% 41 U S Steel pfd.- 86 Warren Bros 8% 7% Youngstwn S&T * 9 Motors— Auburn ••• 34% 34 Chrysler 39 38% 39 ~? l/ * Gen Motors ••• 31% 31% Gen Motors pfd 99 Graham Mot 2% Hudson ... *3% 13 2 Hupp 3% Macs Truck 24/4 Nash .... 16 3 * 16V2 Packard 4 3% 4 4 Reo ?% 3% Studebaker 4% 4% Yellow Truck *% Motor Access— Bendix JJV4 HU Bohn Alum 52 52* 2 Borg Warner 21 Va Briggs ••• ••• I®/a Buna Wheel 3% 3*4 Eaton Mfg , 16% Elec Auto Lite 21*4 20% Hotldaille “A” 4 4 Mullins Mfg 10 Murray Boay 6% Stew Warner • 6% Timken Roll ... 28% 28 28 28% Timken DetAxel 6*2 6% Mining— Alaska Jun , 20% Am Metals .... 18 18 7 4 18 17% Am Smelt 38 38% Anaconda *3% 13% Cal ■s-- Hecla n 4 Cerro De Pasco ... ... 32% 32% Dome Mines 36% Granby 8% Gt Nor Ore „*4 Homestake Min. .. 336 Howe Sound 45% Ins Copper _ 4 Int Nickel 26% 26% 26% 26 Int Silver 31 Isl Creek Coal . 25% Kennecott Cop.. 19% 19 19% 18% Mclntyre Mine 41% Noranda Cop 39% Park Utah 3% 3% Phelps Dodge 15% *5% St Joe Lead ,}® /8 U S Smelters ... 118 117 Vanadium ... ••• 19% Amusements— Crosley Radio... .• ... ••• 12 Fox Thea 14 14% Loews Inc ... 29% 30% Radio Corp 7'% 7% RKO 2% Warner Bros 5% 0% Tobaccos — Am Snuff 53% Am Sum Tob 15'% Am Tobacco A.. .. ... ... 66V2 Am Tobacco B . .. ... ... 68% Gen Cigars * 34% Lig & Myers B 91% 91% 91% 90 Lorillard 16% 16% Reynolds Tob B 42 42% Rails— Atchison . - • . • • 54% Atl Coast Lines. 36 35% 36 35% B&O 21% Can Pac . 15% 15% Ch & Ohio 43% 43% 43% 42% Chi & Gt W 2% Chi & Gt W pfd 7'% C M & St P 4% C M & St P pfd 7V 8 Chi N W 9 8% Chi N W pfd 15% Dela & Hud 50% 50% Del Lac & W 21% Erie 18% Erie pfd 20% Grt Northrnpfd 20 18 111 Central 23% 22'% Lehigh Valley.. ... ... 14 14 Lou & Nash 49% M K & T 8% M K T pfd 21 Mo Pac - •• • 3% Mo Pac pfd ... 5% 5% 5% 5% N Y Cent ... 27 26% 28% 26% N Y Chi & St L ... 17% NY Chi&StLpfd 31 NY New Haven ... ... 14*2 14% NY Ont&West 7% Nor Pac • 24% 24'% Penn R R 29 7 / a 29% 29% 28% Sou Pac 21% 21% Sou R R 23% 23% Sou R R pfd 29% 29 Union Pac 117% Wabash 3 West Maryland 10 Equipments— Allis Chalmers . 15% 15'4 15% 14% Am Brake Shoe 23% Am Car & Fdy 20 19% Am Car&Fdy pfd 39 Am Loco 24 23% Am Loco pfd 55 AmMach & Fdy *4% Am Steel Fdy *5;% Bald Loco Is% Burroughs .... 13 12 % 13 12% Case J I 48% Cater Tract 26% Deer &Cos 20% 20% Foster Wheeler 14 13% Gen Am Tank C *5% Gen Elec 19% 19-% Gen R R Sig 31% Ingsol Rand 30 Int Bus Mach If 2 Int Harvester 31% 31% Natl Cash Reg 15 15 Pullman Inc 48/ Rem Rand 8% Und Elliot 39 West Air B 20% 25 ■ Westingh Elec ..• ... 32% 32% Worth’ton Pmp *8 Utilities — Am & For Pwr 7% 7% Am Power & Lit • • • • -• AT&T .....113% 113% 113', 4 112% Am Wat Wks... 17% 17% 17% 17% Brook Un Gas % Col Gas & Elec 12 11% Consol Gas 32 -4 32^2 Elec Pwr & Lit o% 5% E P & L pfd *3% Int Hydro Elec ••• g / Int TANARUS& T 12% 12% 12% 12 Lou G & E A I.• 15% Nat. Pwr & Lit JO 9% North Amer *’ * *2/ 8 Peoples Gas , “8 2 Postal Tel pfd 17% *g 8 Pub Serv N J f3 2 So Cal Edison 16 % *6 4 Std Gas Std Gas pfd , 8 Stone & Webster .• ]% 7% United Corp 4% 4% 4 s 4. Un Gas Imp * 6 la.s Ut Pwr & L (A) J 8 Western Union. 43*2 43 Rubbers— Firestone 12 Goodrich 13 8 13 Goodyear 28 ■* 28% Kelly Spring 2% U S Rubber ... --18% 1?% U S Rubber pfd 4a % 4d 3 < Miscellaneous— Am Bank Note - If Amer Can 9 ?% 94 Brkiyn Man Tr 30% 35% Conti Can 'O% 70 Crown Cork 2o 2 Curtis Pub 21 ,2 Curtis Pub pfd n 72 Eastman Kodak 90 90 4 Gillette • 10% 10 Glidden 25% 25% 25% 24% Inter Rapid Tr *2 Owens Bottle *4 4 Raybesto Mfg • - •• ••• ••• 16 4 Foods — Armour (Ai •••■ 6% 6 6% 5% Beatrice Cream'y DUf Borden Prod 23 22 vs Cal Packing 31% 31% Can Dry G Ale 21% Coca Cola , ••• H® Cont Bak (A; 8% Corn Prod ■ - -gs 2 Crm of Wheat 31% Cuban Am Sugar -- 7 Gen Foods 32% 32 Gold Dust 19% 19% G W Sugar 25% Hershev 62 :Int Salt 25 1 Natl Biscuit . . 37% Natl D Prod ... 16% 16 16% 16% Purity Bak 13% S Porto Rico Sug 29% ! Spencer Kellog . - • 18 Std Brands . • 19% 19% 19% 18% Un Biscuit 24% 24% United Fruit 68 6. Wriglev ••• ••• 60*4 Retail Stores — / Asso Dry Goods .. ••• ... 12 Best & Cos 29% First Natl Stores 61 Gimbel Bros 3% Gr Un Tea 5% Hahn Dept Sts 5 Jewel Tea ... . 46% Kresge S S .... 17 18% 16% 17 Kroger Groc ... . 28% Macv R H 40 39% Marshall Fields 13% • 13% Mav Dept St . . 36% Mont Ward 34% 23% 34 23% Natl Tea 12 Penny JC ... . 56 Safeway St ..... .. ... 43 47%

(By Abbott Hopple A Cos.)

Sears Roebuck ... 42% Wool worth 48*4 48% 48% 48% Aviation— Aviation Corp 6*4 6% Curtiss Wright . 3% 3% 3% 3% Curtiss Wr A ... 9 8% Douglas Air 18', 17% Nor Am Av ... ~ 4% Speery Corp . 8% 8 8 8% United Aircraft 20% 19% Wright Aero 43% Chemicals— Air Reduction . 96% Allied Chem . 131 130 131 130% Am Com Alcohol 38 36% Col Carbon . 63 63 Com Solvents .. 21% 21% 21% 20% Dupont 82% 82% 82% 82% Freeport Tex 36% Liquid Carb 27% 26% Math Alkali 28% Montosonta Ch.. . . 39% Natl Dis (new).. 25 24% 24% 24% Schenelev Dist . 21% 26 s . 26% 26% Tex Gulf Sulph 32 31% Union Carbide 38% 38 38 37% U S Indus Alco 39% 37% Drugs— Coty Inc 5% 5% Lambert 25 % 24% Lehn & Fink 20 Un Drug 15*4 15% Zonite Prod 5 % Financial — Adams Exp .... 8 7% 8 7% Allegheny Corp 2% Am Int Corp ... . 7% 6% Chess Corp ... 41 40% 41 41 Lehman Corp.. .. ... 66 65 Transamerica .. .. ... ... 6 Tr Conti Corp. 4 Building— Am Radiator.... 13% 13 13% 12*4 Gen Asphalt 17% Int Cement . 23 23 Johns Manville . 49 48 48 47 Libby Owens Gls 28% Otis Elev ... .. 14*4 Ulen Const 2% 2% Household— * , Col Pal Peet... 13% 13'% 13% 13% Congoleum 24% Kelvinator 15% 15% Mohawk Carpet . .■ - 17 17 Proc & Gamble 34 33% 34 34 Simmons Bed 15% 15% Textiles— Amer Woolen 10% 9% Belding Hem 11% 10% Celanese C’orp 26% 25% Collins Aikman 16% Gotham Hose . 7% Indus Rayon ... 74 73% 74 73 Kayser Julius 15% Real Silk 7% 7% New York Curb By Abbott, Hoppin & Cos. —May 14Close. | Close. Allied Mills ... 7%|Ford of Europe 9 Alum Cos of Am 65 iGen Aviation ..4% Am Beverage .. 2 I Glen Alden Coal 15 Am Cyan “B’’.. 17%|Gulf Oil of Pa. 59 A & F Pwr War 4%|Hiram Walker . 32% Am G|as & El.. 23 |Hud Bay Min.. 12% Am Superpower 2%|Humble Oil .... 41 Asso Gas & El %|lmp Oil Ltd.... 13% Atlas Corp . ... 10%|Int Petrol 25% Brazil Tr & Lt 10 ILake Shore Min 48% Brit Celanese 3'/giNatl Bellas Hess 3 Can In Ale “A” ll'/a Newmont Min.. 47% Can Marc 2% Nia Hud Pwr... 5% Carrier Corp .. 6 jNovadel Agene 19% Cities Serv 2%lPan Am Airways 35 Con Gas of Bal 59 IPark Davis .... 23*4 Cord Corp 4%jPenn Road .... 2% Creole Perol .. 12%(st Regis Paper. 3% Crown Ck Inti. 6% jsherwfn Wms .. 62 Deere & Cos 20'/4lStd of Ind 25% Distill Lim ... 22%|Std of Ky 15% Distill Corp .. 15% Technicolor Ind 7% Dow Chem 80 STeck Huges Gd 6 El Bd & Share 13%|Un Gas 2% Fisk Rubber .. ll%jUn Pwr &Lt A 2% Ford of Can A 20% I Wright Har Min 8% Chicago Stocks —By Abbott. Hoppln & Cos. —— —May 15High. Low. 11:30. Asbestos Mfg 3*4 33 Berghoff 7% 7 7% Bendix Aviation 14% 14% 14% Borg Warner 22% 21% 22% Brown Fence & Wire A 11% 11 11% Butler Bros 9 8% 9 Cent 111 Securities pfd... .. 8 Chicago Corp com 2% 2% 2% Cities Service 2% 2% 2% Commonwealth Edison. 52 51% 52 Cord Corp 5% 5 5% Crane Cos 9% Gen Household Ut 124 Great Lakes Dredgs Kingsbury ... 5 Libbv-McNeil 5% 5 5 Marshall Field 14 13% 14 Middle West Utilities . % % Vi Midland United % National-Standard 23% Noblitt-Sparks Inand Inc Public Service N P .. . . 17% Swift & Cos 15% 15% 15% Swift International .. 30 23% 30 Utah Radio . 1% Walgreen Cos Com . ..I. 25% 25 25% Zenith Radio 3% 33 New York Bank Stocks IBy Abbott. Hoppin & Cos.) —May 14— Bid. Ask. Bankers 60% 61 % Brooklyn Trust 102 105 Central Hanover 128% 129% Chcse National 25% 28 % Chemical 4040% National City 28% 28'% Corn Exchange 51% 52% Continental 13 13'% Empire 19 19% First National 16.45 16.60 Guaranty 356*% 358'% Irving 17% 18 Manhatten &Cos 29% 29% Manufacturers 20% 20% New York Trust 101% 102% Public 31% 32'% Investment Trust Shares (By Abbott. Hoppin & Cos.) —May 14Bid. Ask. American Bank Stocks Corp 1.08 1.12 American & General Sec A ... 4.00 5 00 American & Inv Tr Sh 1.75 Basic Industry Shares 2.98 3.06 British Type Inv Tr Sh 46 .50 Collateral Trustee Shares A 4.25 4.50 Corporate Trust Shares toldi. 1.94 1.97 Corporate Trust Shares (new) 2.13 2.16 Cumulative Trust Shares 3.62 3.70 Diversified Trust Shares A... 6.25 Diversified Trust Shares B ... 6.75, 7.00 Diversified Trust Shares C 2.85 2.90 Diversified Trust Shares D ... 4.00 4.25 First Insurance Stock Corp ... 1.20 1.25 First Common Stock Corp 79 85 Fixed Trust Oil Shares A 7.25 7 50 Fixed Trust Oil Shares B .... 6.00 6.25 Incorporators Investments ... 16.63 17.88 Land Bank Bond Shares 1.19 1.30 Low Priced Trust Shares 5.40 5.60 Mass Inv Trust Shares .17.70 19.24 Nation-Wide Securities 3.08 3 12 North Am Trust Shares < 53) 1.72 North Am Tr Shares (55-56) 2.14 2.17 North Am Trust Shares (58) .. 2.10 2.15 Selected American Shares . 241 Selected American Shares Inc 1.10 1.19 Selected Cumulative snares . 6.32 Selected Income Shares 3.25 3.75 Std Am Tr Shares A 2.68 2.72 Trust Shares of America 2.50 2.55 Trustee Std Oil A 5.25 5.30 Trustee Std Oil B 4.68 4.78 U S Electric Lt & Pwr A ... 11.87 12.12 Universal Trust Shares 2.78 2.82 Daily Price Index (By United Press) NEW YORK. Mav 14.—Dun & Bradstreet’s daily weighted price index of thirty basic commodities compiled for the United Press: (1930-1932 Average. 100), Todav - 108.05 Saturday 1 2 8 -90 Week ago 122-?? Month ago Year ago (Mav 15) • • 88.59 (Copyright 1934 Bv Dun & Bradstreet. 1934 low .Jan. 3) }?i-55 1934 high (March 1°) 110.24 Inc.) U. S. DOLLAR STRONG London Gold Price Drops 3 Cents; Sterling Rate Climbs. By United Press LONDON, May 15.—The dollar was stronger today. The pound was $51.10%. Gold was $34.73, down 3 cents, with the sterling rate at 136 shillings % penny, up one penny. Yesterday’s rate was fixed with the pound at $5.11%. By United Press PARIS. May 15.—The dollar remained unchanged today with Fiance at 15.13 to the dollar (6.609 cents a franc). Two Dividends Declared By Times Special CLEVELAND. 0.. May 15.—Directors of City Ice and Fuel Company have declared regular dividends of $1.62% per share on the company’s preferred stock, payable June 1, to stockholders of record May 19, and 50 cents per share on the common stock, payable June 30, to stockholders of record June 15.

SECURITY LIST UP FRACTIONS; VOLUME LIGHT Steel Shares Firm Despite Slight Reduction in Operations. BY ELMER C. WALZER l ulled Press Financial Editor NEW YORK. May 15.—Prices gained fractionally at a quiet opening on the New York Stock Exchange today. Bonds, silver, cotton and the dollar were steady. Steel shares firmed in the face of a slight reduction in output, breaking a six-week rise. Bethlehem opened at 34%. up %. United States Steel was at 41%, up %. American Telephone opened at 113%, up %; Commercial Solvents, 21%, up %; National Distilleries, 24%, up %; United Aircraft, 20%, up %; Westinghouse Electric. 32%, up %; Auburn Auto. 34%, up ■%; Chrysler, 38%, up %; and General Motors 31%, up %. Pennsylvania led the railroads into higher ground, rising 1 point to 29%. Small gains were noted in New York Central and Chesapeake & Ohio. Utilities made small gains. United States Smelting rose a point to 118 in a firmer silver division. Wet stocks made good recoveries with American Commercial Alcohol up 1% at 38. Oils were fractionally higher. During early trading volume continued small with prices around opening levels. Money and Exchange INDIANAPOLIS BANK CLEARINGS —May 15Clearings $2,157,000 00 Debits 5.687,000 00 FOREIGN EXCHANGE (By Abbott.Hoppin & Cos.) —May 14— Close. Sterling. England $5.10% Franc, France 0660% Lira. Italy 8050 Belgias, Belgium 2340 Mark, Germany 3958 Guilder. Holland 6780 Peseta. Spain 1370 Krone, Norway 2568 Krone. Denmark 2283 Yen, Japan *. 3036 Treasury Statement (By United Press) WASHINGTON. May 15.—Government expenses and receipts of the current fiscal year to May 12, compared with the corresponding period of the previous fiscal year: This Year Last Year Expenses *6.113.207,840.94 $4,484,136,565.40 Receipts 2.626.153,705.62 1.720,618.955.26 Deficit 3.487.054,135.32 2,763,517.610.14 Cash Bal. 2,134,363,193.92 MICHIGAN EMPLOYMENT NEARS 'NORMAL’ MARK Increase of 110.4 Per Cent Reported in March Over 1933. By Times Special LANSING, Mich.. May 15.—Department of labor and industry reports employment in Michigan industries was close to “normal” in the thirty days ended April 15. "Normal” is established by the department of the average of the years from 1923 to 1926, inclusive. For the period reported, employment was at the rate of 98.4 per cent. Employment during the month was 110.4 per cent above the corresponding period a year ago. and the total weekly pay rolls averaged 173.1 per cent higher.

Bond Prices ".'By Fenner & Beanej

By Fenner & Beane —May 15— High. Low. 10:30 Alleg Corp 5s 'SO 38 Am&For Pwr 5s 2030.. 52% 51 52'4 Atchison gen 4s '95 . 100% 100 100% B&O CV 4%s ’6O 63% 63 63% Beth Steel 5s A '36 102® Can Pac 4s 81% 81% 81% C & O 5s A '39 109% ChMSP&P adi 5s A 2000 14 13% 13% ChMStP&P rs 5s A '75 44 43'% 43% Cons Gas NY 4%s ’57 103% Denmark 5%s ’55 91'% Det Ed 5s E ’53 107 106% 107 Erie RR rs 5s ’67 71 70 71 French 7s '49 . 184 Goodyear 5s ’57 98% 98%.. 98% Gt Nor 4%S D ’76 .... 75% 74 75 Gt Nor 7s A '36 . 94 Vi Interboro RT 5s '66 .. 57 66% 66*/! Int T&T db 5s ’55 60% Lorillard 7s '44 . 120'% McKess&Robb 5%s ’SO 78' 2 78 78% Nat Dairy db 5%s '4B 93% 93*4 93% NY Cent 4%s O 2013.. . . 71% Nor Am 5s '6l 88 87% 88 Pac Gas & El 5s A '42 105% Penn RR 4',4 s D 'Bl Royal Dutch 4s A ’45.. . . 134 Sin Cons 6%s B '3B . 104% 104% 104% Texas Corp 5s '44 . 102*4 102*n 102% Tob Pr NJ 6%s 2022 . 106% 106% 106% Un Pac Ist 4s ’47 .. 104% 104% 104% US Rubber 5s A ’47 . 82 % 81 82% Ygstwn S&T 5s B ’7O 83% U. S. GOVERNMENT BONDS (By United Pressi NEW YORK. May 14. (Decimals represent thirty-seconds): Liberty 3%s (32-47) 103.26 Ist 4'/4s (32-47) 104.5 4th 4%s (33-38) 104.2 Treasury 4(4s 3'/4s (45) 102.28 4%s (47-52) 111.29 3%s (43-47) 103.23 3%s (41-43) March 103.26 3%s (40-43) June 103.27 3'4 s (41) 103.19 3'/8S (46-49) 101.26 3s (51-55) 100.20 FEDERAL FARM LOAN RONDS By Blyth & Cos.. Inc) —Mav 14— Bid.. Ask. 4 s Nov. 1. 1957-37 100% 101 4 s Mav 1. 1958 38 100% 101% 4's Julv 1. 1956-36 100% 101% 4*4s Mav 1. 1957-37 100% 101' 4%s Nov. 1, 1958-38 101** 101 s * 4 1 2 S May 1. 1942-32 100% 101% 4%s Jan. 1, 1943-33 100% 101 4%s Jan. 1. 1953-33 100% 100% 4%s Julv 1. 1953-33. 100% 100** 4%s Jan. 1. 1955-35 100** 101% 4%s Jan. 1, 1956-36 100% 101% 4-%S July 1, 1953-33 100% 101% 4%s Jan! 1. 1954-34 100% 101% 4%S Julv 1. 1954-34 100% 101% 5s Mav 1, 1941-31 101% 102 5s Nov. 1. 1941-31 lOl'/j 102 —Home Loan—--4s July 1 1951 100.23 1 00.28 —Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 102% 102% PROFIT REPLACES LOSS Square D Company Income Totals $82,652 in First Quarter. By Times Special CHICAGO, May Net profit of $82,652 after all charges, is shown in the report of the Square D Company for the first quarter of the current year. In the first quarter last year the company had a net loss of $90,165. The earnings this year are equivalent to 82 cents a share on 100,228 outstanding shares of the company’s class ‘A’ stock, whicl are entitled to preferential yearly dividtnds of $2.20. and to 36 cents a share on 71.664 shares of class ‘B’ stock. Sugar Melt Decreases By Times Special CHICAGO. May 15. Thirteen United States refiners report sugar melt in the period from Jan 1 to May 5 totaled 1,125.000 long tons, a decrease of 100,000 long tons in the corresopnding period of 1933. Deliveries during the period totaled 965,000 long tons against 1,095,000 in the 1933 period.

PAGE 13

Wall Street Brokers Ready to Catch New List of Suckers in Mining Stocks. BY RALPH HENDERSHOT Time. Special Financial Writer. BY RALPH HENDFRSHOT Time* Special Financial Writer. IN a year or so from now. no doubt, a storm of protest will sweep over the country in connection with what is likely to be called a mining stock swindle. The stage is all set at the present time for Just such a development. Brokers throughout the country are quietly setting their lines to catch a fresh crop of suckers. Conditions favor it, and no

one seems to be paying any particular attention to them. It seems that is the way things are done in this country. We are always so concerned over what has happened in the past that we do not have time to consider what is going on at present. Asa result we never catch up with ourselves. We are

Hendershot

always locking the doors after the horses have been stolen. And the unfortunte and unusual part of it all is that many of those who are supposed to be on the lookout really know the thefts art* being committed. There is nothing especially wrong v ith many mining companies and their shares, and there is no particular reason why they should not be financed by the investing public. But there is something wrong when any hole in the ground can be called a legitimate mine, and when such mines can be financed indiscriminately. the United States went off the gold standard and Uie dollar was subsequently revalued. newly mined gold was placed at a premium and gold mining companics were placed in a position to collect. Profits immediately began to jump, and many mines which had been closed previously because of the high cost of operation were able to reopen on a profitable basis. The improved position of the industry was immedately reflected also in the price of these company shares. The public made profits in these shares, and everybody was happy. Speculation, especially on i the Canadian exchanges, grew at a rapid pace. Having gained confidence by speculating in legitimate securities, the public is now ready to go further and put their money into prospective mines irrespective of their location or prospects. The securities act of 1933 and the stricter regulation of the recognized exchanges have resulted in the piling up of a huge amount of investment funds. Brokers and others with an eye to business recognize the situation and are moving rapidly to take advantage of it. Options and outright purchases are being made of anything and everything that looks like a mine, and these are being recapitalized and their shares offered at fancy prices. a a THE federal trade commission has let down the bars on small recurity flotations, which is another helpful factor. This, so it was said at the time, was done to help the mining industry. From present indications it would seem that the action may prove a boomerang. So that the record may be kept reasonably straight, it may be said that relatively little in the line of selling mining stocks has been done or is being contemplated by broker members of the New York Stock Exchange or the New York Curb Market. Most of the hustling in that direction is being done by the smaller hangers-on of the “boiler room" type. Maiy are out-of-towners. N. Y. Coffee, Sugar Futures COFFEE —May 14—• —Santo*— ~ . High, Low. Closp. March 11.19 11.15 11.19 Mav 10.60 10.56 10.59 J ulv , • 10.63 September 11.05 10.95 11.00 December Il ls 11.07 11.11 —Rio— January jj 42 March 8 45 8 40 Mav 8.07! £ulv 8.25 8-21 8.25 September 8.34 8.32 8.32 December ... 8.39 SUGAR . Hieh. Low. Clone. January 1.66 1.65 1.66 March 1.71 1.68 1.71 Mav i.48 Julv • 1.50 1 47 1.50 September 1.57 1.53 1.57 December 1.65 1.61 1.64 In the Cotton Markets —May 14— . High. Low. Close. January n.67 11.55 11 67 March 11.78 11.67 11.78 May . 11.24 July 11.33 11 18 11.33 October 11.51 11.35 11.50 December 1.62 11.47 11.59 NEW YORK January 11 60 11 48 11.57 March 11.70 11 57 11 68 Mav . n.u July 11.27 11.14 11.24 . October 11 42 11 28 11.39 , December 11.54 11.41 11.52 NEW ORLEANS January 11.53 March 11 66 11.63 11.63 Mav . 11.05 Julv 1126 1110 11.21 October 11 40 11 26 11.34 December 11 53 11.38 11 47 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 2a cents per ton is allowed. Domestic Retail Price* | Anthracite sl4 25 I Brazil lump 5.75 . Brazil egg 5.25 Biazil mine run 5 00 I Coke, nut size 8 75 i Coke, egg size 8 75 i Indiana forked lump 5,50® 5.75 Indiana, egg 5.25® 550 Indiana, mine run 5 00®525 Kentucky lump 700 Pocahontas lump 8 25 Pocahontas egg 8 25 Pocahontas forked lump 9 25 Pocahontas mine run 7.25 i New River smokless 8.25 ! West Virginia lump 6 75 West Virginia egg 6.50 Island Creek 700 Extra charge of 50c a ton for wheeling I coal, and $1 a ton for coal earned to | bin. NAME NEW PRESIDENT F. L. Burke Succeeds F. H. Prescott at Anderson G. M. C. Plant. By Times Special DETROIT. Mich., May 15.—F. H. Prescott, president and general manager of the Guide Lamp dii vision of the General Motors Company at Anderson, has been made president and general manager of the Declo Products division at Dayton. 0., Alfred P. Sloan Jr., General Motors Company president, announced. F. L. Burke, factory manager of the Anderson company, will succeed Mr. Prescott.