Indianapolis Times, Volume 46, Number 5, Indianapolis, Marion County, 17 May 1934 — Page 24

PAGE 24

Wall Street Roosevelt Asks for Huge Sum to Modernize U. S. Homes. —BY RALPH HENDERSHOI— Time* Special Financial Writer.

PRESIDENT ROOSEVELT, it would seem from 'his message to congress Tuesday, is determined if possible to prevent business from slumping too much this summer. He asked the legislative body to provide a huge sum of money with which to modernize and repair homes throughout the country, giv-

ing work to tho usands of men now unemployed and adding materially to the wealth of the nation. The step, provided congress approves, heids important possibilities. Stocks rallied smartly on the news, which indicated how’ Wall Street felt about it. The speed with which the ma-

Hendershot

chinery is set up to handle the undertaking and the manner in which prospective borrowers receive the offer are likely to play an important part in its success or failure, however. It should be recognized, though, that most people today are more eager to get out of debt than they are to contract more. This is especially true where real estate is concerned. Business is likely to need some assistance this summer if it is not to lose a portion of the gain it has made during the last year. Having already turned downward from its spring peak, many people have j begun to believe that we are in for much more than a seasonal decline. The action of the security markets seemed to suggest such a development, although, as is generally known, trade prospects have not been the only important factor in their performance. u n m WHEN President Roosevelt turned down the idea of inflation via the silver route the impression was created that he was about finished with experiments and artificial treatments. Naturally this caused misgivings in some quarters, for it was feared that business was not yet ready to stand on its own feet. That he recognized the need of more help is one of the important features of his message, and it will be interesting to see whether the general public has as much confidence in his ability to turn the tide of trade as it had a few months ago. o a a PASSAGE of a compromise Flet- ; cher-Rayburn stock exchange j regulation measure, which now j seems assured, is expected to result in a number of consolidations of New York Stock Exchange brokerage houses. Trade is expected to be greatly reduced when the new' rules and regulations become effective, so the volume of business available is not likely to w'arrant the existence of so many concerns. nun BROKERS do not expect the new' law to force any of their members into bankruptcy, however, although it was admitted that some might be obliged to close shop because of unprofitable operations. Statistical and clerical forces also are expected to be greatly reduced. No doubt is held that the measure will greatly reduce speculation. N. Y. Coffee, Sugar Futures —Mav 16— COFFEE Santos High. Low. Close. March 11.22 11.11 11.22 •Mav 10.62 JUlv 10 72 10.63 10.72 September 11.08 lion 11.08 December 11.18 11.05 11.18 j Rio January - ■ • 8 47 March 8.50 Mav 8.09 Julv 8 25 8 22 8.25 September 8.35 December 8.45 8.40 8.43 SUGAR High. Low. Close. January 1.65 1.64 1.65 March • 110 1.69 l.]o Mav 1.48 Julv 1.50 1.48 1.49 September 157 ]55 156 December 1 64 1.62 1.64 In the Cotton Markets -May 16— CHICAGO High. Low Close. January 11*5 11.70 11.75 March 11 88 11.82 11.88 Mav 11 36 July 11.45 11.35 11.45 October .. 1164 11.51 11.61 December .... 11.75 11.62 11.72 NEW YORK January . 11.74 11.63 11.72 March 11 84 11.73 11.78 Mav 11 30 11 26 11.29 Julv 11.40 11 29 11.39 October 11.57 11 44 11.46 December .• 11.69 11.57 11.68 NEW’ ORLEANS January ... 1184 March • • • 11.80 Mav 11.35 11 29 11 29 Julv 11.40 11 26 11.37 October 11.55 11 40 11.52 December ... . 1167 11.52 11.64 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents per ton is allowed. _ . Domestic Retail Fnces Anthracite sl4 25 Brazil lump 5 <5 Brazil egg 5.25 Brasil mine run 500 Coke, nut stse 8 75 | Coke, egg size ,8.75 Indiana forked lump 5 50 ®5.75 Indiana, egg 5.25® 5.50 1 Indiana, mine run 5.00tt5.20 Kentucky lump 100 Pocahontas lump 8 25 Pocahontas egg 8.25 Pocahontas forked lump 9.25 Pocahontas mine run -• 7.25 New River smokies* 8 25 , West Virginia lump 6 75 West Virginia egg 6.50 Island Creek < °0 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to | bin. MEAT PACKERS SHARE U. S. RELIEF ORDERS Government Buys 225.000 Hogs From Twenty-Seven Firms. By Timer Special WASHINGTON. May IT—Contracts to twenty-seven meat packers at twenty-three market points were awarded by the federal surplus relief corporation this week for the purchase and processing of 225,000 hogs for government relief purposes during the next two weeks. The contracts were made in such volume to packers in the four regions in which the corporation divided the nation, as to distribute purchases more nearly in proportion to the geographical distribution of total hog marketings. Harry I*. Hopkins, federal relief administrator, said. Purchases in the central section of the United States will be concentrated at Chicago, with three small packing firms operating for | government account.

STOCK VALUES STRENGTHEN ON GOOD DEMAND Agreement on New Silver Program Starts Buying in Security List. BY ELMER C. WALZER United Press Financial Editor NEW YORK, May 17.—Good demand for metal stocks and a few special groups brought a strong tone into the stock market today, although trading continued light. Agreement on a silver program started buying and spyead through mining issues, save the gold mining class. United States Smelting was more than four points higher at 115, later touching 116%; American Smelting was almost three points higher at .ID" 1 ,; Cerro Dp Pasco gained 2% points at 34%; Anaconda and Kennecott gained a point each. American Metals gained three points to 24. In the special groups, packing stocks and tobacco shares showed a pick up. Armour preferred was up 3-8 at 70%. Wilson shares were good. American Tobacco was a point higher at 69 and the B stock w'as up 1 % at 7Hi. Lorillard was fractionally higher. American Woolen preferred jumped 4% points to 64 : 2 after opening unchanged at 60. Gains in the remainder of the list were smaller. United States Steel w’as a point higher at 42%. Motors were improved.

Money and Exchange INDIANAPOLIS BANK CLEARINGS —May 17— Clearines $2,038,000.00 Debits 6,913.000.00 FOREIGN EXCHANGE ■By Abbott. HoDPin & Cos.) —May 16Close. Sterling. Enzland $5.11 Franc. France 0660 Lira. Italv 0851 Beleias. Belgium. 2341 Mark. Germany 3959 Guilder. Holland 6788 Peseta. Spain 1370 Krone. Norway 2569 Krone. Denmark 2284 Yen. Japan 3032 New York Bank Stocks <Bv Abbott. Hoppin & Cos.) —May 16Bid. Ask. Bankers 61 1 2 62 Brooklyn Trust 112 115 Central Hanover 129 130 Chase National 27’* 28% Chemical 41V4 41** National City 277* 28% Corn Exchange 52% 53 Continental 13% 13% Empire 19 19% First National .1.645 1,655 Guaranty 360 363 Irving 17% 18’ s Manhattan & Cos 30 s * 31 Manufacturers 21% 21V '* New York Trust 101 % 102% Public 32 32*4 Bond Prices ißy Fenner & Bean? —' —May 17— High. Low. 10:30. Alleg Corp ss. ’SO . . . 37*, Am & For Pwr ss. 2030 53 3 * A T & T db ss. 65 . . 107% 107% 107% Atchison gen 4s. ’95 ... 101 ’l9l 101% B&O CV %S, ’6O . . . 64% :-4 64% Can Pac 4s 81*4 81 % 81% ChMStP&P adjSsA. 2000 14*4 14 1 2 14% ChMStP&P rs 6s A, '75 46 45% 46 Cons Gas N Y 4%5. ’sl 103 3 4 Denmark s' : ,s, ’55 . 91% 90% 90% Erie RR rs ss. ’67 . 73Va French 7s. '49 ..... ... 184 Goodyear ss. '57 . . 99 Gt Nor 4%s D. '76 .... 78% Gt Nor 7s A. ’36 95% 95 95% Interboro R T ss. 66 68 67% 68 Int T & T db ss, '55 63*4 63 63 Vi Lorillard 7s. '44 120 McKess & Rob 5%5, 50 80 79% 80 Nat Dairy db 5%5. '4B 94% 94 94% N Y Cent 4%s O. 2013 73% ?3' 2 73% Nor Am 5s '6l 88 3 4 88'* 88** Penn RR 4'js D, 81 P 6% Poland 7s. '47 lll'a 110' 2 m/ 2 Shell Un Oil ss. '47 98 Tob Pr NJ 6* 2 s. 2022 105'-2 105 105* Un Pac Ist 4s. '47 104% 104% 104v> U S Rubber 5s A '47 83 3 4 83% 83 5 * Western Un ss, 'sl 99% 98' 2 99% Ygstwn S & T 5s 8. '7O 83 3 4 l*. S. GOVERNMENT BONDS •By United Press' NEW YORK. May 16. iDecimals represent thirtv-seconds.' Liberty 3' 2 s '32-47' 103.27 Ist 4*4 S '32-47' 104.4 4th 4*,s (33-38' 104. Treasury 4*4S-3*4S '4s' 102.30 4's '47-52' 111.31 3 3 *s '4l-43' March 103.28 3%s '4O-43* June 103.28 3'* s (411 103.23 3*as (46-491 101.26 3s )51-55i 100.23 FEDERAL FARM LOAN BONDS (Bv Blvth A- Cos.. Inc. 1 —May 16Bid. Ask. 4s. Nov. 1. 1957-37 100% 101 4s. Mav 1. 1958-38 100’’* 101 Vi 4' 4 s. July 1, 1956-36 100*2 101 4* 4S. Jan'. 1. 1957-37 100% 101*i 4’ 4 s. Mav 1. 1957-37 100% 101*4 4*4S, Nov. 1. 1958-38 101'* 101** 4' 2 s. Mav 1. 1942-32 100% 101** 4v-s. Jan. 1. 1943-33 100** 101 4 1 2 s. Jan. 1. 1953-33 100% 100** 4* 2 s. July 1. 1953-33 100% 100** 4* s, Jan 1 1955-35 100' 2 101 4' 2 s. Jan. 1. 1956-36 100*4 101 *i 4%5. Julv 1. 1953-33 100*4 101*4 4%5. Jan. 1. 1954-34 100% 101 4* 4 S. Julv 1. 1954-34 100*2 101 ss. Mav 1. 1341-31 101' 2 102 ss. Nov'. 1. 1941-31 101' 2 102 —Home Loan—4s. Julv 1. 1951 100.21 100.26 —Federal Farm Morteage Corporation—--3* s. March 15. 1964-44 101.25 102.00 The two latter quotes are in thirtyseconds.

Investment Trust Shares (By Abbott. Hoppin & CO.l —Mav 16Bid. Ask. American Bank Stocks Corp . 112 1.15 American & General Sec A 4.00 5.00 American & Inv Tr Sh 1.75 Basic Industry Shares 3.05 3.10 British Type Inv Tr Sh .46 .50 Collateral Trustee Shares A 4 40 4 50 Corporate Trust Shares (Old) 197 2.01 Corporate Trust Shares inewi 2.20 2.23 Cumulative Trust Shares . 3.75 3.85 Diversified Trust Shares A . 6 25 Diversified Trust Shares B 7.25 7.50 Diversified Trust Shares C 2.90 2.95 Diversified Trust Shares D 4.30 4.50 First Insurance Stock Corp . 1.20 1.26 First Common Stock Corp ... .79 .85 Fixed Trust Oil Shares A .... 7.50 7.75 Fixed Trust Oil Shares B . . 6.40 6.50 Incorporators Investments Land Bank Bond Shares 1.17 1.30 Low Priced Trust Shares 5.60 5.70 Mass Inv Trust Shares 17.85 19.40 Nation Wide Securities 3.12 3 18 North Am Trust Shares (531 . 1.76 No Am Trust Shares <55-545• 2 22 2.26 North Am Trust Shares 'sß' . 2.15 2.20 Selected American Shares 2.41 Selected American Shares Inc 110 1.19 Selected Cumulative Shares 6 32 Selected Income Shares 3 25 3.75 Std American Trust Sh A . 271 2.78 Trust Shares of America ... 2.50 2.55 Trustee Std Oil A ■ • • 537 550 Trustee Std Oil B 4 75 500 U S Electric Lt &• Pwr A 12 12 12 37 Universal Trust Shares 2.85 2.90 Daily Price Index ■Bv United Press) NEW YORK. Mav 16 -Dun A- Bradstreet's daily weighted price index of 'hirtv basic commodities compiled for the United Press (1930-1932 average. 100): Todav 108 66 Yesterday 108.15 Week ago 108.31 Month ago 106.55 Year ago >Mav 17i 89.71 1934 high 'March I2> 110.24 1934 low (Jan. 3> 101.05 (Copyright. 1934. Dun <fc Bradstreet. Inc.) NET PROFITS REPORTED Noblitt-Sparks Earns 574,737 in First Four Months of Year. By Times Special CfiICAGO. May 17.—Net profit of the Noblitt-Sparks Industries. Inc., in the first four months of the current year amounted to $74,737 after all charges, according to Frank H. Sparks, treasurer. Net sales for the period were $1,619,236. The company had a deficit of $41.766 in the corresponding period of 1933. and sales during the period a year ago amounted to only $452,576.

New York Stocks ■“——— (By Abbott Hoppin <Ss ro.l ———————————— AVERAGE STOCK PRICES FOR WEDNESDAY Set High. Low. Close, change Thirty industrials 93.83 91.51 92.73 -.11 Twenty rails 42.56 41.70 42.24 - .17 Twenty utilities 22.96 22.50 22.66 -.07 Forty bonds .... 93.69 +.17 Ten first rails * .... 100.17 -.30 Ten second rails .... .... 81.32 -r.32 Ten utilities .... 96.9.5 —.Ol Ten industrials .... 96.32 -r.05 + Up. -Off.

I Amerada 47* 2 All Rfg 24*4 Barnsdall 7% .l*, i Consol Oil .. . . 10% 10% ! Cont of Del .. 19*4 19% 19*4 19*4 Houston tnewi 3*, Houston 'old' 19 Mid Cont Pet 12 Ohio Oil 12% 11 7 1 Phillips Pet 17*4 17** 'Plymouth Oil. 11*4 i Pure Oil . 10% 10** Royal Dutch . 35 34’ 2 35 Sbd Oil 32*. 32'* Skelley Oil ... . 9** j Soc Vav 15*4 15’* 8 O of Cal 31**337,0 7 , S O of N J 41** 41 '* j Sun Oil Texas Corp 23 * 2 Tidewater Assn 12Va 12% ; Un Oil of Cal 16 Steels— Am Roll Mills 17 7 * Beth Steel 34% 33*, Byers AM 21*, 21 Col Fuel&lrcn ... 4,4 Cruc Steel ... ... ... 23 “Gulf Sts Steel 23 Inland Steel 37 1 2 Ludlum Steel 13*4 McKeesport Tin ... ... ... £5% Mid Steel 12 7 Natl Steel 42 * 4 Otis Steel . 5 Replron&Steel ... ... 17’* lf.'i Replron&Stl pfd 47 Va U S Pipe & Fdy . ... 22 U S Steel 41*4 41% 41*4 41V4 U S Steel pfd 87 7 , Warren Bros ... ... 3% B*4 Youngstn S&. T 19* 19*4 Motors—'Auburn ... 35 34 Chrysler ... 38** 38*4 Gen Motors ... 31 *4 32 Graham Mot 2*4 Hudson 13V* 13*4 Hupp 3*4 3* 3*4 3*4 Mack Truck ... . 25*/* Nash . ... 17*4 17V4 Packard 4*4 4 Reo . ... . 3% Studebaker 5 5 Yellow Truck 4 */4 Motor Access— Bendix 15*4 15 Bohn Alum 53 Borg Warner . . 22 Briggs 16% 16*/* 16*4 16*2 Buad Wheel 3V 2 3** Eaton Mfg 16V4 Elec Auto Lite ... 21V* 21*4 Houdaille A" .... ... ... 4Va Mullins Mfg ... ... 10% Murray Body .. 7*4 Stow Warner 7'* 7*4 Timken Rill 27% 28'* Timken Det Axle .. ... ... 6% Mining— Alaska Jun ... ... 18*4 Am Metals . . 21 Am Smelt 38*4 38*4 38** 37*4 Anaconda 14’ 2 13% Cal & Heel a 4% 4' 4 Cerro De Pasco. 33*4 33Vi 33V4 31'2 Dome Mines ..... Granby 9 Gt Nor Ore ..... . .. 12 Howe Sound 46% 46*4 46% 44* 4 Ins Copper . . 4% Int Nickel 27'2 27% 27*4 27'* Kennecott Cop . 20 19% 19% 19V* Mclntyre Mine. 42-% Noranda Cop ... ... 42* 4 Noranda Cop 39V* Park Utah . 4*4 3 7 * Phelps Dodge 16% 16% 16% 15* 4 St oJe Lead ... 18*/ 2 U S Smelters. . ..115'% 114 115 111 V 2 Vanadium 19*/4 Amusements — Fox Thea ... . 14*4 Loews Inc 30 7 i 30*4 30 7 i 30 Radio Corp ... 7V 2 7V4 RKO 2% Warner Bros ... 5*4 s*/ 2 Tobaccos— Am Snug .. ... ... 56 Am Sum Tob ... ... 16Vi Am Tob <A> ... . 68 Am Tob (B) 70 70 Gen Cigars 35*4 Lig Myers (B fll* 4 91 : * 4 Lorillard 16*/* 16% Reynolds T (B) ~ ... 42V* 42Vi Rails— v Atchison ... 55*4 55 Atl Coast Lines 36 B & O 23' a 23 Can Pac 16 Va 16Vi Ch & Ohio 44*8 44Vi Chi & Gt W pfd 7*2 C M & St P 5 C M & St P pfd 7*4 Chi N W 9Vi 9% Chi N W pfd 16Vi Dela Hud 51 52 Del Lac & W 22 Erie . . 18 Vi Erie pfd . .. 22% 22 22 Vi • Grt North pfd ... ... 111 Central 24 K C Sou 13 Lehigh Valley .... ... ... 14% M K & T B*4 M K & T pfd 22% Mo Pac pfd . 6 N Y Cent 28 27% 28 27% N Y Chi & St L 17*4 NYCh & StL pfd 31 Vi 31*2 N Y New Haven 14% 14% Nor Pac . .. ... 25Va 24*4 Penn R R 30 30 Sou Pac 22 21% 21% 21% Sou R R 25 24' 2 Sou R R pfd 30% Union Pac ... 119 119'/* Wabash .. .. ... ... 3** West Maryland ... ... ... 10% Equipments— Allis Chalmers ... ... ... 15 % Am Brake Shoe. .. ... ... 27 Am Car & Fdy 20 3 8 Am Cr & Fdy pfd 40 Am Loco .. ... ••• 24'i Am Mach A- Fdy .. ... ... 14*2 Am Steel Fdy .. . 16V2 Bald Loco ... 11% 10% 11% 11 Bald Loco pfd ... ... 43 Burroughs ... 13 13 Case J I • ■ 49 Cater Tract ... 27% 26% 27% 27 Deere & Cos ... 21% 21% 21'* 20% Foster Wheeler ... ... . 14*, 2 Gen Am Tk Car 36’ 2 Gen Elec . 20% 20' 4 20% 19% Gen R R Sig 34 33* 4 Ingsol Rand ... ... 51% Int Bus Mach ... ... 135% Int Harvester ..... ... Natl Cash Reg. 15% Pullman Inc 49% Rem Rand 9-/* Und Elliot ... ... 39?* West Air iß' ... . 26Vi Westingh Elec 33 32 Vi Worthington P 20V4 Utilities— Am & For Pwr.. .. ... 8% 8 n Am Pwr & Lit.. .. ... 7% 7% AT&T 114 112% Am Wat Wks 18 18 Col Gas & Elec . . .. 12% 12 Com & Sou ... 2% 2** 2% 2% Consol Gas 32*. 32** 32% 32% Elec Pwr <fc Lit 5% 5% 5% 5% E P & L pfd .. . 13 Int Hvdro Elec 6% 6% Int T & T 12% 12% 12*2 12 Lou G&EiA' .. ... . 16% Nat Pwr <fe Lit .. ... . 10 North Amer ... 16** 16 Pac G & E 17V* 17* 2 Peoples Gas .... ... ... 31 Postal Tel pfd 17% Pub Serv N J 35% 35** So Cal Edison . .. ... 16% 16% Std Gas . 9*4 9*4 Std Gas pfd 11% 11% 11% 11 Stone & Webster 8 8 United Corp $ s'* Un Gas Imp .. ... 15% 15% Ut Pwr <fc Lt A' 3 Western Union ... ... 43% 42 Rubbers— Firestone . ■• 18% Goodrich 13% 13% 13% 13% Goodyear 29 28'2 29 28*2 Kelly Spring . 2** U S Rubber 19'* 18% 18% 18% U S Rubber pfd . . ... • 45% Miscellaneous— Am Bank Note . 20* 2 20 Am Can 93 92% 93 92 Brklvn Man Tr .. ... 35% Conti Can 72% 72V* Curtis Pub 22 Curtis Pub pfd ... ... ... 74% Eastman Kodak 93*2 Gillette ... 10% Glidden 25 25% Inter Rapid Tr 7% Owens Bottle 74% Foods— Am Sugar . . . 52% 51*4 Armour ''A" . 6 s * 6% 6% 6*2 Beatrice Cream 15% Borden Prod 24** 24% 24% 25 Cal Packing 31 31** Can Drv G Ale 21% 21% Coca Cola ... . • 118 Corn Prod 3*2 63 Crm of Wheat .. ... 32Va 32 Cuban Am Sugar 7% Gen Foods ... 32% 32% Gold Dust 20 19% G W Sugar 26% Int Salt 26% Loose Wiles .... . 39*2 Natl Biscuit ... 35*. 35% 35% 35 Natl D Prod ..17 16*2 17 16'i Puritv Bak .. ••• • 13’* S Porto Rico Sug Spencer Keliog 20 Std Brands 19-% 19% Un Biscuit 24% United Fruit 68% Wrigley 61 Retail Stores — Asso Drv Goods .. ... 12% 12% Best A- Cos 28* 4 First Natl Stores .. ... ... 59% Gimbel Bros 3% Gr Un Tea 6 5% Hahn Dept Sts. 5*2 s'* Jewel Tea - 46 Kresge S S 17% 17% Kroger Groc 29 % Macv R H 42% 41% May'Dept St . . 37% Mont Ward 25 24% 24% 24% Natl Tea 12% Penney J C . 57 % Safeway St 48% 48% 48% 48% Sears Roebuck . 42% 42 -12 42'* Woolworth 49*4 49 Aviation— Aviation Corp . .. ... 6% 6% Curtiss Wright . . . S'* 3% Curtiss W’ri (Ai 9% 9% 9% 9** Douglas Air 18% 18*2 Nor Amer Av 4% 4% Speerv Corp .. . 8% 8% Uinted Aircraft 21 20* 4 20% 20*. Wright Aero ... 47 Chemicals— Air Reduction 95’, Allied Chem 129% Am Com Alcohol 88 37 %

THE INDIANAPOLIS TIMES

Col Carbon ..... . . . 63 Com Solvents 22% 22% 22% 22’* Dupont ....... . 82 81 % Freeport Tex .. 37% 37' 2 47*2 37% Liquid Carb ... 27% 27*2 Math Alkali 29** Monto Chem . . .. 42'* Natl Dis inew). 25*2 25*, 25% 25 Schenelev Dist . . 27 % 27 % Tex Gulf Sulph 33 32% 33 32% Union Carbide 38 37% U S Ind Ale 40*2 40 Drugs— Cot.v Inc 6 6 Lambert ... 25 Lehn & Fink . . 20* 4 Un Drug 15% 15% 15% 15*, Zonite Prod 5% Financial— Adams Exp B'* Allegheny Corp 2*4 Am Int Corp ... —B% 8 Chesa Corp .. .. 42 Transamerica .. 8% 8 6% 6 Tr Conti Corp ... ... 4** 4% Building— Am Radiator ... 13% 13% 13% 13% Gen Asphalt ... ... 13 Irrt Cement . 24 Johns Manville 48% 48 48 48% Libby Owens Gls 30*i 30% Otis Elev 15 Ulen Const 214 Household— Col Pal Peet ... 14 13% 14 14 Congoleum . . 75 Kelvinator . .. 16% 16 16 16 Proc & Gamble 34 34 Simmons Bed .... ... ... 16 Textiles— Amer Woollen .. 1114 10% 11% 10 7 -* Belding Hem 11% Celanese Corp 27% 26% Collins Aikman 17*4 17 Indus Rayon Kayser Julius 16 New York Curb (By Abbott. Hoppin & Cos.) —May 16— Close1 Close Allied Mills . ... 7%|Humble Oil .. 407* Alum Cos of Am 67%ilmperial iOl Ltd 14% Am Cyanide B 18'/*[lnt Petrol . . 26 Am Gas & El 23 % Lake Shore Min 48*8 Am Superpower 2%(Libby McN Libby 5 Asso Gas & El %|Lone Star Gas.. 6 Atlas Corp ... 10%iMt Producers .. Vi Can Marc 2%'Natl Bellas Hess 3% Cities Serv .... 2%!Newmont Min... 48 Cord Corp ... 5 iNia Hud Pwr .. 5% Creole Petrol . 12%iNovadel Agene. . 21 Crown Ck Inti.. 7 Park Davis .... 23% Deere &Cos ... 20%jPenn Road . 2% Distillers Corp. 15%'St Regis Paper 3% El Bond & Sh . 14 iSherwin Wms.. 67% Fisk Rubber - 13%jStd of Ind 26 Ford of Europe 9 'Std of Ky 15% Gen Aviation 4% I reck Hughes G.. 5% Glen Alden Coal 15% Un aGs 2% Gulf Oil of Pa. 39%! Un Pwr & Lt A 3 Hud Bay Min . 12%!Wri Harg Min... 8% Hiram Walker.. 33%j Treasury Statement (By United Press I WASHINGTON. May 17.—Government expenses and receipts of the current fiscal year to May 15. compared with the corresponding period of the previous fiscal year; This Year. Last Year. Expenses $6,145,836,661.22 $4,527,245,337.99 Receipts . 2,639.127,437.69 1.728,701.053.79 Deficit .. 3,506.709,223.53 2,798.544,284.20 Cash Bal. 2.110,747.448.06 Produce Markets Delivered In Indianapolis Prices—Hens, 11c; 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 tinder 55 lbs. will be made. Butter—No. 1, 27®28c; No. 2. 25@26c; butterfat. 20c.— Quoted by Wadley. 0 (By United Press) CHICAGO. May 17.—Eggs—Market, weak; receipts. 21,651 cases; extra firsts. 16 %c; fresh graded firsts. 15%c; current receipts. 14%®14%c; dirties, No. 1, 13%rS 13%c: No. 2,13 c; checks. No. 1. 13%c; No. 2,13 c. Butter—Market, weak; receipts. 11,746 tubs; extra firsts (90-91% score', 22(8 22%c; firsts iBB@B9' 2 score', 21 %c: firsts <BB-89% score'. 21%@21%c: seconds 'B6-87% score), 21c; extras (92 score), 22%c: specials. 23®23*2c; standards. 22%c. Poultry—Market, steady; receipts. 29 trucks, 1 car due; hens, light, 14c; old roosters. 7%c; geese. 6c; broilers, colored and White Rocks, 22c: turkeys, 18c; heavy ducks, springers. ll@13c; Leghorns. lOiasilc; capons unquoted: Rock fryers. 25c. Cheese—Twins, 12%(ff 12%c; Daisies, 13®13’/ 4 c; Longhorns. 1-3(8 13' .c. Potatoes—Old stock, supply moderate; demand and trading moderate; market steady: Idaho russets, 10 cars, $1.40: 3 cars. $1.42%: Colorado McClures, 2 cars, $1.55; North Dakota cobblers. 1 car, $1.10: Minnesota cobblers. 1 car. $1: 1 car mixed red and white. sl.lO. New Stock—Supply moderate; demand and trading moderate; market about steady; Louisiana Triumphs, 1 car. $1.95*4: 3 cars, $2; 2 cars. $2.15; Alabama Triumphs. 2 cars, $2; 5 cars, $2.05; 3 cars, $2.10. Arrivals—loß; cn track, 194: shipments. 796. NEW YORK. May 17—Potatoes—Steady; Long Island. $1.75<8T.90 barrel; southern. $2.50® 5 barrel: Maine, $1®2.60 barrel; Bermuda. $6 barrel. Sweet 'Potatoes— Steady: Jersey, basket. $1.40® 1.60. Flour—Strong: Springs, patents. $6.75® 7 barrel. Pork—Steady: mess, $20.25 barrel. Lard—Firm; middle west spot. $4.15® 4.25 a 100 lbs. Dressed Poultry—Steady: turkeys. 12®27c; chickens. 9%@28c; broilers. 18®28c: capons. 21® 34c; fowls. 12® 17c: Long Island ducks, 15® 16c. Live Poultry—Steady; geese, 6®;7c: turkeys. 10®17c; roosters. 9c: ducks. 8® 12c; fowls, 14® 17c; chickens, 9®!l0c; capons. 22c; broilers, 12®23c. Cheese—Firm: state whole milk, fancy to specials. 18®19c; Young America, 13%c. CLEVELAND, May 17.—Butter—Market barely steady; extras. 26* 2 c: standards. 26%c. Eggs—Market steady; extra white, 14%c; curent receipts. 14c. PoultryMarket steady; colored fowl. 6 lbs. and up. 15c: light fowl, 13c; broilers, colored ordinary. 23®24c; old roosters. 10c; ducks, white. 5 lbs. and up. 14®15c; light old. 10® 12c: broilers, fancy Rocks. 26®27c; Leghorn, 20® 22c; Leghorn light, 18® 20c. Potatoes—Florida best mostly ss® 5.75 a barrel: Texas. $1.25 50-lb. sack; Alabama. $2 25® 2.40 100-lb. sack: Maine. $1.65® 1.75 100-lb. sack; Ohio, $1.50®T.60 100-lb. sack.

On Commission Row —May 17— —Fruits— Apples—New York Baldwins, fancy, $1.85: fancy Ben Davis. Indiana $1.75;' fancy Winesaps, $2,150/2.50. Cherries—California, 15-lb. bag, $3.50® 4.25. Lemons—Sunkist, $6.50; Red Ball, $6 Grapes—South American, crate, $3. Grapefruit—Florida, seedless. $3.75®4.25. Strawberries Mississippi, 24-at. crate, $2 50: Tennessee 24-qt. crate, $2®2.50. Melon? —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: % pts., $2.50. —Vegetables— Cabbage—Louisiana, $2 crate; Florida red, $2.50 per hamper. Celery—Florida. $3.15 a crate, mammoth bunch. 90c: medium bunch. 45c; hearts, dozen bunches, $1.25. Or.ions—lndiana 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, cr&tc $2 Asparagus—Home grown, dozen. 50@85c. Beans—Round, stringless. 31.253 2. Beets —New Texas. 3-dozen crate. $1.75. Carrots—California, 6-dozen crate. $2.75; bulk. new. $1.60. Cauliflower—California, $1.90. Lettuce —Hot house. 15-lb. basket. sl.lO. Iceberg, best, s4®s 50 a crate. Peas—2 B-lb. hamper. $2.50® 2 75. Radishes—Home grown buttons. 40c a dozen. Rhubarb—Home grown, dozen. 30c. Spinach—Home grown, bushel. 90c. Tomatoes—Repacked. 10-lb. carton. $1.50; original Mexican. 30-lb. lug.. $3.50 CHICAGO FRUIT MARKET (Bv United Press) CHICAGO. May 17.—Apples—Michigan Spies. $1.50® 1.85 a bushel. Carrots — $1.15® 1.20 (50-lb. sacks'. Spinach—lllinois. 25®60c a bushel. Beans—Southern green and wax. 75c®51.25 bushel hampers. Cucumbers—Central western hothouse. $1.50®2.25 (2 dozen to box'. Tomatoes — Florida. $2.25® 3.25 lug box. Sweet Potatoes —Tennessee. $1.65® 1.75. Mushrooms. 17%c. 'SO-lb. cartons'. Asparagus—lllinois. 50<fc60c flat crates. Strawberries— Illinois. $1.75® 2.50 124-quart crates'. Onion Market—(so-lb. sacks'; Texas yellows. 85c® *1.10: Texas whites. 90c® $1.20: California whites. $1.25® 1.35. DOLLAR VALUE STRONG Sterling Rate Advanees Cent as Gold Price Drops. By Vuitcd Press LONDON, Mav 17.—The dollar was strong today, with the pound $5.10%. Gold was 534.76. down 2 cents, with the sterling rate at 136 shillings 1 penny, up 1 penny. Yesterday's rate was fixed with the pound at $5.11%. By T ni'erl Pri > PARIS. May 17.—The dollar was slightly stronger today with francs at 15.13 to the dollar (6.609 cents a franc).

SWINE MARKET MOVES 5 TO IO CENTS LOWER Cattle Active and Strong; Shorn Lambs Higher at $8.50 Down. A decline of from 5 to 10 cents under yesterday's average marked early trading in the pork market at the Union Stockyards this morning. Lightweights displayed the major decrease. Initial action developed slow with the demand dull as in the previous session. Receipts held at a normal figure numbering 7.000. while holdovers were extremely heavy at I, The general bulk of 160 to 350 pounds was selling from 53.60 to $3.70. Few better grades were reported salable at $3.75. Usual run of lightweights scaling 130 to 160 pounds brought $2.65 to $3.15, while smallest grades on hand, weighing from 100 to 130 pounds, sold at $2 to $2.40. Practically all class of cattle were active and strong to slightly higher, especially steers and heifers. Early bulk of steers ranged from $5.50 to $6.50. Receipts numbered 800. Veal prices continued unchanged, salable at $6 down. Receipts were 800. Strong undertone prevailed in the lamb market, with shorn grades mostly 15 cents higher. Bulk sold at $8.50. Springers were valued at $10.50 down, while slaughter sheep cashed in at $3 down. Receipts were 500. With only little action evident, early sales ou hogs at Chicago remained steady at yesterday's average. Initial top held at $3.80. Receipts were estimated at 23.000, including 9.000 directs; holdovers 2.000. Cattle receipts 6.000; calves 3.000; market stationary to strong. Sheep receipts were 6,000; market unchanged. HOGS Mav. Bulk. Top. Receipts. 10. $3.50® 3.65 $3.70 6,000 11. 3.55®! 3.70 3.75 5.000 12. 3.65® 3.75 3.75 1.500 14. 3.65® 3.75 3.85 7,000 15. 3.45® 3.55 3.60 10.000 16. 3.65®' 3.75 3.80 6.000 17. 3.60® 3.70 3.75 7,000 Market, lower. (140-160) Good and choice.-.. $2.90® 3.15 —Light Weights—--IT6O-I8O) Good an dchoice 3.60 (180-200) Goo dand choice 3.65 —Medium Weights—-(2oo-220) Good and choice 3.70® 3.75 (220-250) Good and choice 3.70® 3.75 —Heavy Weights—-(2so-290) Good and choice 3.70® 3.75 (290-350) Good and choice 3.60® 3.70 —Packing Sows—(3so down) Good 3.00® 3 25 (250 lbs.) Good 2.85® 3.15 (All weights) Medium • 2.50® 2.8$ —Slaughter Pigs)— (100-130) Good and choice.... 2.00® 2.40 CATTLE Receipts, 800; market, strong. (1.050-1,100) Good and choice $ 6.75® 8.25 Common and choice 4.50® 6.75 (1.100-1,500) Good and choice 7.00® 9.00 Common and medium 5.50® 7.00 (675-750) — Good and choice 5.25® 6.50 Common ana 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 steersi 3.00® 3.75 Cutter, common and medium.. 1.75® 3.00 VEALERS Receipts, 800; market, steady. Good and choice $ 5.50® 6.00 Medium 3.50® 5.50 Cull and common 2.00® 3.50 —Calves — Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker, Cattle— Good and choice 4.50® 6.00 Common and medium 3.00® 4.50 (800-1.5001-Good and choice 4.50®) 6.00 Common and medium 3.00® 4.50

SHEEP AND LAMBS Receipts, 50ft; market, higher. (Shorn basis) Spring lambs $ 8 50® lft.oo 190-lb down' Good and choice 8.25® 8.50 (90-100-lb ' Good and choice . 8 00®! 8.25 (500-lb. down/ Com. and med. 6.50® 8.00 —Ewes— Good and choice 2.50® 3.50 Common and medium 1.50® 2.50 Other Livestock (By United Press' CHICAGO. May 17.—Hogs—Receipts. 23,000; including 9.000 directs; slow steady to 10c lower: 150-340 lbs., [email protected]; top, 53.80 paid for few 210-235 lbs.; pigs. s2.ao down: packing sows. $2.75®3: light lights. 140-160 lbs., good and choice, $3®3.60; lightweights, 160-200 lbs., good and choice. $3.40®3.75: medium weights, 200-250 lbs., good and choice. $3.60®3.80: heavyweights. 250-350 lbs., good and choice. ,[email protected]; packing sows, 275-550 lbs., medium and good, $2.50® 3.20; slaughter pigs. 100-130 lbs., good and choice. s2®3. Cattle—Receipts. 6,000; calves. 3.000; active on yearlings and light steers: firm: medium grade shade higher to highest point of week; well-finished weighty bullocks steady: inbetween grades slow; best heavy steers. $9.10; haevy heifers, $7.75; light heifers, $6.50; light steers and yearlings. $5.50® 7 25; heavies. 57.254/8.50; slaughter cattle and vealers: Steers. 550-590 lbs., good and choice. s6® 8: 900-1,100 lbs., good and choice. $6.25®8.75: 1,100.-1.300 Tbs., good and choice. 56.75®9.25; 1,300-1.500 lbs., good and choice. s7® 9.25 550-1,300 lbs., common and medium. $4.50® 6.75; heifers. 550-750 lbs., good and choice. $5.50® 7; common and medium. $3.5035.25: cows, good. $4.25® 5.25: common and medium. $2.85® 4.25: low cutter and cutter cows. $1.65®2.85: bulls, vearlings excluded, good beef $3.25® 3.75: cutter, common and medium. $2.5033.25: vealers. good and choice. $5®6.50: medium. $3.75®5.50: cull and common. $3®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. 6.000: lambs in relatively broad demand: strong to 25c and more higher; best wooled skins. $9.50; $8 25 and up for best recently shorn offerings: springers. sheep strong: shorn ewes. s2® 3; some quoted higher; slaughter sheep and lambs: Spring lambs, good and choice. $9.25® 10.75; medium. 58.50® 9.25: lambs. 90 lbs. down, good and choice. $7.85®8.35: common and medium. s6®7: 90-98 lbs., good and choice. $7.75® 8.25; ewes. 90-130 lbs., good and choice. $2.50® 3.50; all weights, common and medium. $1.50®3. LAFAYETTE. May 17.—Market. 5® 10c lower: 200-300 lbs., $3.55; 160-200 lbs., $3.35® 3.45; 140-160 lbs.. $2.65® 2.90: 120140 lbs.. $2.1532.40: 100-12 lbs.. SI. 75® 1 90; roughs. 52.73 down. Top calves. $5. Top lambs. 58.50: spring lambs. S9®lo. FT WAYNE. May 17.—Hogs—Market 5c lower: 250-300 lbs., $3.70; 200-250 lbs.. 53.60; 160 200 lbs. *3 50: 300 350 lbs.. $3.30: 150-160 lbs . S3 10: 140-150 lbs.. $2 85: 130-140 lbs . 52.60: 120-130 lbs., $2.10: 100-120 lbs.. $1 90: roughs. $2.75: stags, $1.25. Calves. 55.50®6; lambs. $9 down. 'By Times Special LOUISVILLE Mav 17.—Cattle—Receipts. 150: demand slightly improved for most slaughter classes: market moderately active and fully steady: bulk common to medium steers and heifers. s4®s; very few included of quality to sell above *5.50. but strictly good dryfed yearlings quotable to $6.25: bulk beef cows. $2.75® 3 50: good kinds to $3.75 and above for heifr tvpes; low cutters and cutters mostly .>1.25® 2.50: sausage bulls. 53.25 down: bulk desirable light Hereford and Shorthorn stockers. $4 50® 5: common to medium grade native and southern stockers. $2.75® 3.75. Calves—Receipts. 300: steady; bulk better vealers. $4.50® 5; strictly choice handvweights eligible higher: medium and lower grades. S4 down. Hogs—Receipts. 1.200: pigs weighing from 100-120 lbs.. 50c higher :other weights and classes steady: 180-275 lbs.. $3.80: 275 lbs. up. $3: 160-180 lbs.. *3.60: 140-160 lbs.. $3.35; 120-140 lbs.. $2.50: 100-120 lbs.. $2: sows. $1.70. Sheep—Receipts, 1.500: run late in arriving; quality of early arrivals fairly desirable; demand dependable: market steady: bulk better trucked in ewe and wether spring lambs. *10; choice longhaul overnight and rail lambs quotable to *10.25 or better; bucks discounted SI; bulk. $9; medium and lower grade springers. *6® 8: medium to good clipped lambs mostly *6® 7; fat clipped ewes. *2® 3. Common Dividend Boosted By T n'trd Press CHICAGO. May 17. Common stock dividend rate of Spencer Kellogg <fc Sons was increased recently after a quarterly payment of SO cents a share was declared by directors.

Chicago Stocks By Abbott. Bodolb <k Cos. 1 1

—Mav 17High. Low. Close. Asbestos Mfg • 3 Berghoff 7 6% 6* Bendix Aviation 15% 15% 1% Borg-Warner 22% 22 22% Buffer Bros . .. . 9% 9 9 t Cent 111 Securities pfd ... . " Cent & So West 1 Chicago Corp com * Cities Service .. * 2 Commonwealth Edison . 51 % 51 *1 C'ord Corp • •*; Crane Cos 9*4 9% 9% Gen Household Ut 13*3 13 13% Iron Fireman • . 1? Libbv-McNeil 5% S% 5% Marshall Field 15 14% 15 Noblitt-Sparks Ind. Inc .. ... 13;> Prima Cos ....? Sears Roebuck 42 *

GAIN IN GOVERNMENT EMPLOYMENT SHOWN Increase of 19.3 Per Cent Is Made Since 1922. fti/ Timer Special NEW YORK. May 17.—The total number of employes of the federal, stato and local governments increased from 2.618.000 in 1922 to 3.122.000 in 1932, or 19.3 per cent, according to the national industrial conference board report. During the same period the total population of the country increased 13.6 per cent. The percentage increase in government employes was about one and one-half times as great as the increase in population. In 1932 there were 49,600,000 persons available for gainful employment, including the unemployed. In the same year there was enough work of various types available to provide employment on a full time basis for 34.131,000 persons Government employes, therefore, accounted for 9.1 per cent of the full time jobs available in 1932. In 1932 employes of the federal government numbered 952.419. or 30.5 per cent of the total. This number includes 274.852 persons belonging to the army, navy and the marine corps. The postal service gave employment to 369,866 persons, or 38.8 per cent of all federal employes. Civil service employes totaled 307.701, or 32.3 per cent of the total.

Bright Spots “(By Abbott. Hoppin &J2o.)*“

Lake Shore Company declares the regular quarterly dividend of 50 cents and an extra dividend of 50 cents a share on the common stock. Chesapeake & Ohio Railroad Company in the first four months of the current year earned $1.19 a share on the common stock against 78 cents a share in the first four months last year. The company declares the regular quarterly dividend of 70 rents a share on the common stock. New York Central Railroad Company car loadings in the week ended May 12 totaled 42,808 cars against 37.737 cars in the corresponding week last year. Seaboard Oil Company declares an extra dividend of 10 cents a share in addition to the regular quarterly dividend of 15 cents a common share. Allegheny Corporation in fhp quarter ended March 31 has a net loss of $232.315 after all charges against $344,161 in the similar 1933 quarter. National Biscuit Company declares a quarterly dividend of 50 cents a share on the common stock. Previously the company paid 70 cents a common share quarterly. Chesapeake Corporation declares the regular quarterly dividend of 63 cents a share on the common stock. Public Service Corporation of New Jersey declares the regular quarterly dividend of 70 cents a common share. Consolidated operating income of tlje Associated Gas and Electric Company in the twelve-month period ended March 31 amounted to $24,738,246 after taxes, but before fixed charges and other deductions against $28,871,527 in the previous twelve months.

MERGER PROPOSAL OF C., R. I. & P. DISMISSED Consolidation of Eleven Subsidiaries Turned Down by I. C. C. By T'nileel Press WASHINGTON. May 17.—The interstate commerce commisison yesterday dismissed the proposal of the Chicago, Rock Island & Pacifiic railway to consolidate its eleven subsidiary companies. The Rock Island agreed to drop proceedings after the commission had sanctioned the consolidation, but insisted that the Rock Island purchase and operate the Wichita &c, Northwestern Railway if public interest demanded it. The railroad said this condition was unsatisfactory and consented to abandoning the plan. BANK DEBITS DECLINE FOR WEEK OF MAY 9 Figure Tops Those for Last Year, However, by 24 Per Cent, By Times Special WASHINGTON. May 17.—Debits to individual accounts, as reported to the Federal Reserve Board by banks in leading cities for the week ending May 9. aggregated $7,373,000 or 13 per cent below the total reported for the preceding week and 24 per cent above the total for the corresponding week of last year. Indiana cities reported as follows: Indianapolis. $28,515,000; Evansville, $3,648,000; Ft. Wayne. $5,364,000; Gary, $2,678, and Hammond. $577,000. ELECTRIC OUTPUT GAINS Increase of 11.9 Per Cent Reported Over Previous Year. By T ailed Press NEW YORK. May 17.—Production of electricity in the United States for the week ended May 12 totaled 1.643.433.000 kilowatt hours, a gain of 10.667.000 kilowatt hours over the preceding week and of 11.9 per cent over the corresponding 1933 period when output was 1.468,035.000 kilowatt hours, the Edison Electric Institute reported today. Silk Prices Advance By Tfines Special NEW YORK. May 17.—An advance of from 1 to 2 cents a yard in silk and rayon greige prices has resulted from the shutdown of mills and the start of summer buying activities, it was reported here yesterday. Reorganization Plan Approved By I'nited Press CHICAGO. May 17.—Directors of the United Aircraft and Transport Corporation have approved the proposed plan for reorganization of the company and stockholders will vote on the readjustment June 30.

Stutz Mot Cr Cos of Am . 4*, Swift * Cos 15*. 15* j 15*4 Swift Intrrn*cionl .... 30' 2 30', 30* 2 Thompson. JR 7% Utahßadio.. . . 1% Walgreen Cos.. Com .... 25% 2S>- 25% Cash Grain INDIANAPOLIS Mav 16 — 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—Strong; No 1 red. 81%fiiR.V.r I No. 2 red. 80%®81%c; No. 2 hard. 80'.© ! 81' 2 c. i CORN—Strong: No 2 white 46*-4748*20 i No. 3 wihte. 45%<i47%c: No. 2 yellow. 44 (<j46c; No. 3 yellow. 43 a 45c; No. 2 mixed. I 43 /45c: No. 3 mixed. 42 v 44c. OATS—Strong". No 2 white. 42' 4/ 33 2 C' No. 3 white, 31%w32%c:. —lnspections WHEAT—No. 1 red. 1 car: total. ! car CORN—No. 2 white. 1 car; No. 3 white ! 5 cars: sample white. 1 car; No 2 ve'low | 1 car: No. 3 yellow, 1 car: No 4 vellow 1 1 car: No. 5 yellow 1 car: total 11 cars OATS —No 2 white. 7 cars: No 3 white, | 2 cars; No. 4 white. 1 car; total. 10 cars. laical Wagon Wheat Citv erain eleva ors are paving 77 rents for No. 2 soft, red wheat. Other grades ; on thesr merits. •Bv United Press) CHICAGO. May 16.—Cash grain- Wh*at —No 2 hard. 88'jC. No. 3 hard. R6*.,r. No. 2 mixed. 87* 4 Corn —No. 2 yellow. 49%c; No. 2 yellow old. 50%c; No. 2 yellow. lake billing. 50c. No. 2 white. 55c: No 2 white, lake billing old. 55c; No 4 white new 53c: sample grade white. 47c. Oats—No. 2 white. 304135*40; No 3 white. 34* 4 4(34* 2 c: No. 4 white, 33%4|34'.,C; sample grade white. 31%c. Rye—No. 2. 61 %c. Barley—Sales. 504) 78c; quotable. 454/ 80c Timothy—s6,so4/ 6 75. Clover seed—slo4/ 13.75. Cash provisions—Lard. $6.15; loose, $5.70; leaf. $5.75; bellies. $8 TOLEDO. May 16—Grain close' Grain in elevators, transit billing: Wheat—No. 2 red. 914/ 92c. Corn—No. 2 vellow, 544/; 55c. Oats—No. 2 white, 404/ 41c RyeNo. 2. 62%4/ 63' 2 c Track prices, 28%c rate: Wheat—No. 1 red. 87%4/88c. No 2 red. 86%4/87%c. Corn—No. 2 vellow. 49% 4/50* 2 c; No. 3 yellow. 48%4/49%c: No 4 yellow. 464/ 48%c. Oats—No 2 white. 374/ 38c: No. 3 white. 36%©37%c. Seed close; Clover—Cash. $8.25. Alsike—Cash. $8 50. ST LOUIS. May 16.—Wheat—In fair demand: 2%c higher on red. 2%c higher on hard No. 2 red. 83%c. No. 1 ied garlicky 86c: No. 2 hard 88*.c nominal. Corn—ln fair demand. % to 2c higher; No 2 vellow 51 %c; No. 3 white. 52* 2 c. Oats—ln fan demand, unchanged; No. 2 white. 35%c. FIRST BULK SHIPMENT OF LARD TO BE MADE Cargo Totaling 2.700,000 Pounds Will Leave Chicago in June. By 'l ime* Special CHICAGO. May 17.—The William Davies and Company, pork packers, has chartered the German tank steamer Wilhelmina, for the purpose of clearing the first cargo of lard ever to leave Chicago in bulk. The shipment will total 2.700.000 pounds, and will clear from the East Chicago docks early next month. If the shipment proves satisfactory other shipments are expected to be arranged. Railroad companies and ocean steamship lines which recently announced special rail-ship rates for moving of lard from Chicago consider the innovation as a challenge to the railroads. HOME MORTGAGES DROP Illinois, Wisconsin Owners Reduce Loans by 23 Per Cent. By Timex Special CHICAGO. May 17.—A total of 6,700 small home owners in Illinois and Wisconsin, deriving credit from the Federal Home Loan bank of Chicago, have paid down their original mortgages by 23 per cent of the principal, A. R. Gardner, president of the bank, announced here this week. Mr. Gardner announced the bank has established credit lines through building and loan associations totaling $40,000,000.

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-MAY 17, 1934

FUTURE PRICES CLIMB DESPITE RAIN FORECAST Apparent Victory of Silver Bloc in Washington Strong Factor. BY HARMAN W. NICHOLS I nitrd Prr„ Staff Corrrtpondrnl CHICAGO. Mav 17.—Apparent victory of the silver bloc in Washington gave vent to inflation hopes and the bullish enthusiasm resulted in a higher opening for grains on the Chicago Board of Trade today. Wheat prices opened unchanged to a cent higher; corn and oats wprr up % to % cent, and rye was % cent higher. The advance in prices come in the face of forecast for rains over *hp arid areas of the spring wheat sections. The upturn was further boosted by higher stocks and cotton. Lievrpool wheat opening higher, but failed fully to reflect the strong finish here yesterday. Chicago Futures Range —May 17— Wheat— Prev. High. Low. 10 00. close. Mav 90% .90% .90% .90% Julv 89*4 .88% .88% .88% Sept 90 .89', .89 '4 .89% Corn— May .47% .47% Julv 50' 2 .49% .50 .49*4 Sept 51% .51* j .51% .51*4 Oat,— Mav 36% .36 .36 .35% Julv 35*. .34% .35 .34*4 Sept 35% .34% ,34% .34% Rye— Mav 56* 2 .56% .56*. .56% Julv 58 .57% .57% .57% Sept 59% .58% .59 .59 Barley— Mav 42 July 43% .02*4 .02% .03% Sept 04* 2 .03*4 ••• .04*, CHICAGO PRIMARY RECEIPTS —May 16 - ■ Bushels - Today. Las) week. Wheat 645 000 251.000 Corn 179.000 286.000 Oats 154.000 88.000 C. & G. W. PURCHASES 500 NEW BOX CARS Railroad Acquires FWA Loan to Pay for Equipment. By Timex Special CHICAGO. May 17.—The Chicago <fe Great Western Railroad Company this week announced the purchase of 500 of the latest, type steel box cars to replace obsolete “arch bar - ’ cars. The new cars, which will be approximately 4.000 pounds I*#> in weight than the old cars, will be built by the Pullman Car and Manufacturing Company at a cast of $1,200,000. The railroad company has acquired a loan of that amount from the PWA to pay for the equipment. GLASS PRICES “SLICED Two Reductions Miffle Within Period of Last Ten Days. By Timex Special PITTSBURGH. May 17.—During the last ten days window and plate glass prices have been reduced two different times. The first cut, a 12' £ per cent, was quickly followed by a 5 per cent reduction. Price of plate glass during the period have been reduced 15 per cent for the large size, with other sizes showing minor slices.