Indianapolis Times, Volume 46, Number 7, Indianapolis, Marion County, 19 May 1934 — Page 14

PAGE 14

Wall Street New Exchange Governors to End ‘Private Club’ Fashion. —BY RALPH HENDERSHOT

Timn Special Financial Writer. 'T'HE recent New York Stock Ex- ■*- change election was a significant event despite the fact that Richard F. Whitney was re-elected president of the institution. Its importance lies primarily in the fact that three of the fi\e governors serving on the publicity committee, including James C. Auchincloss, its

chairman. were supplanted b y new governors. Evidently the Exchange's attitude toward the public is to be changed. For a great many years the New York Stock Exchange was run more or less ifter the fashion of a private club. The general public was taken very little into its confidence. It was argued.

K'St ~~

Hendershot

and probably rightfully so from one point of view, that the interests of members could best be served if little or no outside interference was permitted. The governors, it was pointed out. were better informed on the Exchanges problems and needs than any outsider possibly could be, and since they were selected because of their responsibility and integrity, no one should criticise the manner in which they administered its affairs. From time to time In the past efforts were made to place some kind of public regulation over the Exchange. Many people felt that, to a very large degree, it was a public utility, inasmuch as its duties were primarily those of public service and that it derived its support entirely from public transactions. Moreover, it was argued that the Exchange's activities had a direct bearing on the business life of the country and, consequently, such activities should be supervised. u n * BUT such efforts never proved very fruitful until recent months, when the depression, brought on party at least by speculation excesses on the exchange, fostered the idea of supervision. President Roosevelt called for regulation early in his administration, the senate investigation gave him the basis upon which to make his wish a command, and now congress is about to enact such a measure into law. Passage of this legislation j will mark the end of the “club idea for the exchange. One can only surmise the devel- * opments which led up to the re- ; placement of the three governors serving on the exchange’s publicity j committee. Perhaps they resigned of their own accord. Maybe they were asked to step down for the good of the cause. At any rate, there are those among the exchanges membership who feel that had the proper relations been established between the institution and the public the regulation which is now about to go into effect never would have become a reality. a b a IT is rather doubtful that such a broad statement is warranted. That the exchange left its guard down by taking the position that its business was none of the public’s business is obvious. And it Is reasonable to assume that had it not maintained its “high hat” attitude the regulations about to be imposed would have been much less severe. But in recent years even many exchange people, including Mr. Whitney himself, have declared themselves in favor of some kind of reasonable federal regulation, and. with the tide moving in that direction. it probably was but a matter of time before restrictions were placed on its operations. In shaping the exchange’s new policy toward the public—assuming such a policy is to be framed— Maurice L. Farrell, senior partner in F. S. Smithers <fc Cos. and one of the newly elected governors, is likely to play an important part. His experience some years ago as managing editor of the Wall Street Journal should be invaluable to the exchange in that work N. Y. Coffee. Sugar Futures COFFEE —May 16— H;*;h. Low. Close. —Santos— March 1141 113* 1141 May 10.75 Juiv 10 85 10 81 10 85 September 11 25 11.17 11 23 December 11 35 11 27 11 33 —Rio— January 8 34 March 8 60 Mav 8 20 July . 8 35 Sepiember 8.45 8 44 8.45 December 8 54 6.50 8 53 —Surar — January • 1 69 1 68 1.69 March 1.74 1 73 1 74 Julv 1 53 1 52 1.53 Srp’eir.sor 1.60 1.59 1 60 December 1 68 1 67 1.67 FARM BANK LENDING AT RATE OF $75,000 A DAY Springfield Intermediate Credit Rank Aids Rural Districts. By T Mtf Special WASHINGTON. May 19. Short term loans of production credit associations in New York. New Jersey and the New England states were discounted with the Federal Intermediate Credit Bank of Springfield. Mass., at the rate of more than $75,000 a day in the first nine working day s of this month, the farm credit association reported. Approximately five hundred loans were closed during the week ended May 5. by the newly organized production credit associations against 400 in the previous week. The loans are for financing, harvesting and marketing of farm crops and for breeding, fattening and marketing livestock and poultry. Many farmers are using the proceeds of the loans to pay cash for purchases, rather than obtaining credit from merchants and storekeepers. Store Lease Obtained B‘i 7’iffli * special TERRE HAUTE. May 19.—Negotiations for a long term .egrj .or the erection of a store by the Montgomery Ward fc C\. costing more than SBO COO, * 2 ccmplr ed here th's week The store will open early m the tail.

STOCK SHARES EASE 2 POINTS IN LIGHT TRADE Average of Ten High-Grade Railroad Issues Best Since 1915. BY ELMER C. WALZER I nited Prys Financial Editor NEW YORK. May 19. Stocks eased off near the close yesterday after moving in a narrow range most of the session. Trading continued light. Losses at the end of the day I ranged upward to more than 2 points. Silver and silk made small gains, while rubber and cotton eased. Activity in stocks centered on General Motors and Chrysler, which eased fractions to more than a point. United States Steel lost more than a point, as did American Can, American Commercial Alcohol, Bethlehem Steel, General Electric, Western Union, American Telephone. Westinghouse Electric, Ow-ens-Illinois Glass and Loew's. Silver issues reacted downward, with United States Smelting off 2 points. Rails dipped on a decline i in car loadings. Utilities were easier. Mail order shares and farm equipments declined with grains. Coppers dipped. Operators Withdraw Narrowness of the list is seen in the fluctuation of leading issues. In United States Steel the range was a little more than a point, while the high-priced Allied Chemical moved over a 2-point arc. Woolworth ! moved between a high of 51 and a j low of 50%. Montgomery Ward had a %-point fluctuation. Many operators had withdrawn from the market and dealings were mostly of routine. Late in the day aviation shares appeared somewhat steadier than the others. Word from Washington told of discussion of the air mail bill, with main points of difference holdnig companies, interlocking directorates and granting interstate commerce commission jurisdiction over rates and routes. U. S. Dollar Dull The American dollar lapsed into dullness and leading currencies were little changed. Wall Street interpreted this as evidence the Europeans had concluded the proposed | silver legislation did nto involve ! sufficient inflationary power to influence dollar quotations in terms of foreign currencies. The bond market did better than other markets. The Dow-Jones average of ten high-grade railroad issues made anew high since 1915. United States governments made small gains. Stock sales yesterday approximated 910,000 shares. against 1.290.000 j shares Thursday. Curb sales were ! 248.000 shares, against 198,000 shares ; Thursday. Dow-Jones preliminary averages j showed industrial 95.17. off .81 point; railroad 43.64. up .01 point, and utility 23.30, off .23 point. Money and Exchange INDIANAPOLIS BANK CLEARING 8 —May 18— Clparinqs $2,149,000.00 Debits 5,227,000.00 FOREIGN EXCHANGE (By Abbot*. Hoppin & Co.I —May lA - Close. Sterlinß. England $5.11 >* Franc. France 0661% Lira. Italy 0852 Bolgies, Belgium 2344 Mark. Germany 39 50 Guilder. Holland , 6797 ' Peseta. Spain 1373 Krone. Norwav 2571 Krone, Denmark 2284 Treasury Statement ißy United Press) WASHINGTON. Mav 18.—Government expenses and receipts of the current fiscal year to May 16. compared with the corresponding period of the previous fiscal year: This Year Last Year. Fxpenses $8,161,555,661.30 $4,539,278,215.50 Receipts $2,643,889,051.59 $2,732,124,686.24 Deficit $3,517,675,609.71 $2,807,153,529.26 Cash Bal $2,130,848,807.39 Investment Trust Shares (By Abbott. Hoppin & Cos.) —May 18Bid. Ask American Bank Stocks Corp.. 1.10 1.13 American General Sec A .. 4 00 5.00 American & Inv Tr Sh 1.75 Basic Industry Shares 315 3.25 British Type Inv. Tr Sh 45 .50 Collateral Trustee Shares A.. 4.55 465 I Corporate Trust Shares <old>.. 2.02 2.06 i Corporate Trust Shares (new).. 2.25 2.28 ; Cumulative Trust Shares .... 383 3.90 j Diversified Trust Shares A .. 6.25 Diversified Trust Shares B .. 730 7.40 Diversified Trust Shares C 2.99 3.02 I Diversified Trust Shares D ... 448 4.54 First Insurance Stock Corp ... 1.22 1.27 ; First Common Stock Corp ... .79 85 5 Fixed Trust Oil Shares A 7.75 8.00 i Fixed Trust Oil Shares B .... 6.62 6.87 Incorporators Investments ...16 62 17.87 j Land Bank Bond Shares 1.17 1.30 Low Priced Trust Shares 5.78 .88 Mass. In' Trust Shares 18.31 19 80 Nation Wide Securities 3 25 3 30 1 North Am. Trust Shares 153( 1.82 1.88 j North Am. Trust Shares (55-56) 227 2.32 North Am Trust Shares (58) .. 2 34 228 Selected American Shares ... 242 Selected American Shares Inc . 1.10 1.19 Selected Cumulative Shares ... 6 24 Selected Income Shares .. 3.25 3.75 i tri American Trust Shares A . 2.82 2.90 Trust Shares of America 2.57 2.62 Trustee S*d. Oil A 5.50 5.75 Trustee Std. Oil B. .... 485 495 U. S Electric Lt. & Pwr A ..12.50 12.75 Universal Trust Shares 2.92 2.97 New York Bank Stocks ißv Abbott. Honpin & Company) —May 18— Bid. Ask. Bankers 61 61% Broklvn Trust 110 114 Central Hanover 128% 129% Chase National 27'* 28® Chemical 41 1 * 41% National Citv 27% 27% Corn Exchange 52% 53_ Continental 13% 13'* Empire . 13% 13% First National 1.643 1.655 Guaranty 354 357 ; Irving n% 17% Manhattan * Cos 78% 2.% Manufacturers 21% Jb New York Trust 100 101% Public 32% 33 Daily Price Index (By United Press) NEW' YORK. May 18.—Dun & Bradstreet daily weighted price index of thirty basic commodities compiled for the United Press: ■ 1930-1932 average. 100' Todav 109.40 Yesterday 109 23 I Week ago 109.37 Month ago 105.38 Year ago (May 19) 88 63 1934 high (March 12> ... 110 24 1934 low .Jan. 3> k 101.05 iCopyright. 1934, Dun & CREDIT SALESI NCR EASE Retail Trade Volume Shows First Advance in Four Years. By Timi . special WASHINGTON. May 19.—Credit sales during 1933 amounted to 53 per cent of the total retail sales, according to the department of commerce. In 1932 credit sales amounted to 51.4 per cent of the total sales. Sales volume gained during the year, marking the first rise in four years, and coinciding with the growing retail credit conditions, bad debt losses showed a marked decline, the department reports. Food Price Index Down /;■< 7 imi s special CHICAGO. May 19—The weekly food price index of Dun A: Bradstreet stood at $2.09 for the week ended May 15. compared with $2 10 in the previous week, and $1.86 for i the styne week last year.

New York Stocks —— , Bv ABOO?t Hoppin & <~o.i

AVERAGE STOCK PRICES FOR THURSDAY Net High. Low. Close, change Thirty industrials 96.17 92.6.3 95.98 - 3.25 Twenty rails 43.72 42.21 43.63 —1.39 Twenty utilities 23.59 22.80 23.53 Forty bonds .... 93.94 Ten first rails •••• 100.22 -r .05 Ten second rails .... 81.90 - .58 Ten utilities . ..* .... 97.21 t .28 Ten industrials .... 94.46 - .13 - Up. •

—May 18— Pr<>v. Oils— High. Low. Clore. close. : Amerada 49 48 48% 48 I Atl Rfg 25% 25% 25% 25% Barnsaall 8% 8 8% 8% Consol Oil 11% 10% 10% 11 Cont of Del ... 20% 20 20 20% Houston (new*.. . 4 4 Houston told*.. 21% 20 20 20% Mid Cont Pet . 12% 12% Ohio Oil 12% 12% 12% 12% Pet Corp 11% 11% 11% 11 Phillips Pet 18% 18 18 18% Plymouth Oil .. 12% 12% 12% 12% Pure Oil .... 11% 10% 10% 11% Roval Dutch ... 35% 35% 35% 35% Sbd Oil 33% 32% 33% 33% Shell Un 9 8% 8% 8% Skellev Oil . .. 9% 9% 9% . Soc Vac 16 15% 15% 15% SO of Cal ..'... 33 32% 32% 32% S O of Kan 39% S O of N J 42% 42% 42% 42% Texas Corp . 24% 24 24% 24% Tidewater Assn. 13 12% 13 12% Un Oil of Cal .. 16% 16% 16% 16% Steels— Am Roll Mills... 19% 18% 18% 19% Beth Steel 36% 34% 35 36% Byers AM . 22% 21% 21% 22% Col Fuel <fe Iron. 5% 5 5 5% Cruc Steel ... 26 25% 25% 24% Gulf Sts Steel 28'/a Inland Steel ... 4040 Ludlum Steel ... ... . 13% McKeesport Tin. . 86% 86% Mid Steel 13% 13 13 13% Natl Steel 44% 44% 44% 44% Otis Steel . 5% 5% 5% 5% Rep Iron & Steel 18 17% 17% 18 Rep Ir <fc Stl pfd 51 49% 51 51% U S Pipe & Fdv. 23% 23 23 23% U S Steel . 43% 42% 42% 43% U S Steei pfd .. 89% 88% 88% 89 Warren Bros 10 9% 9% 9% Youngstown S&T 21% 20% 20% 21% Motor*— Auburn 36% 35% 35% 35% Chrysler 41% 39% 39% 41% Gen Motors .34% 33% 33% 34 Gen Motors pfd. 99% 99% 99% 99 Graham Mot ..3 2% 33 Hudson 14% 14 14 14% Hupp 4 3% 3% 3% Mack Truck 26% 26% 26% 27 Nash 18% 17% 17% 18 Packard 4% 4% 4% 4% Reo 3% 3% 3% 3% Studebaker .... 5% 5% 4% 5% Yellow Truck .. 4% 4% 4% 4% Motor Access— Bendix 16 15% 15% 16 Bohn Alum 56 55% 56 55% Borg Wareer ... 23% 23 23% 22% Briggs 17% 16% 16% 17% Buad Wheel .. . . 3Vi Eaton Mfg 18% 17 17 17% Elec Auto Lite.. 22% 21% 22 22% Houdaille A .... 5 4% 4% 5 Mullins Mfg ... 11% Murray Body ... 7’* 7% 7% 7% Stew Warner ... 7% 7% 7% 7% Timken Roll 29% 28% 29% 28% Timken Det Axel 7% 7 7 7% Mining— Alaska Jun 19V. 18% 18% 19 Am Metals 23% 23 23% 24% Am Smelt 41'/a 39% 40% 41% Anaconda 15% 14% 15 15% Cal % Hecla ... 5 4% 4% 5 Cerro De Pasco. 35% 34% 35% 35Vs Dome Mines 37% 37% 37 37% Granby 10% 10 10% 10% Gt Nor Ore 12V* 12 12 12 Homestake Min 360 % 355 360V* 351 Howe Sound... 50 48 50 49 % Ins Coper 5% * 5V* Int Nickel .... 27V* 27% 27** 27% Int Silver 33% 33% 33% 33 Kennecott Cop. 20% 20% 20% 20% Mclntyre Mine 44% 44 44 44% Norar.da Cop .. 41 % 40% 40% '41% Park Utah .... 4% 4% 4% 4% PHelps Dodge.. 17% 16% 17 17% St Joe Lead ... 20% 20 20% 21% U S Smelters.. 118% 115% 118% 119 Vanadium 21% 21 21V* 21% Amusements— Crosley Radio 12% 12% Fox Thea 15% 14% 14% 15 Loews Inc 31% 30% 30% 31% Radio Corp 8 7% 7% 8 RKO 32% 33 Warner 8r05... 6% 5% 6 6% Tobaccos— Am Sum Tob .. 17% 17 17% 17% Am Tob “A'’ .. 69% 69% 69Vs 69% Am Tob "B”.. 71% 70% 71% 71% Gen Cig 37 36 37 35% Ligg Myers "B'’ 95 94% 94% 94% Lorillard .. 17% 17 17% 17% Rev Ids Tob 'B ’ 43% 43% 43% 43% Rails— Atchison 56% 55 55% 56% At! Coast Lines 42% 41% 41% 39% B & O 24% 23% 23% 24% Can Pac 16% 16 16 16% Ch & Ohio ... 45% 44% 45 45 Chi &Gt W pfd 8% 8% 8% 8% C M & St P 5% 5 5 5% C M & St P pfd 8% 8% B*4 8% Chi N W ... . 10% 9% 10 10% Chi N W pfd. 18% 18 18 18 Dela & Hud .. 54% 53 53% 54 Del Lac & W .. 23% 22% 23 23% Erie 19% 18% 18% 18% Erie pfd 23 22% 22% 22% Grt North'n pfd 22% 21 21 22% 111 Central 26% 25 25 25% K C Soil 14% 14% 14% 14 Lehigh Valley .. 15'* 15% 15% 15% Lou & Nash 54% 54 54 53% M K & T 9% 9% 9% 9% MK & T pfd .. 4% 24% 24% 23% Mo Pac . . 4% ... Mo Pac pfd ... 6% 6% 6% 6% N Y Cent ... 29% 28% 28V* 29% NY C&St L pfd 35% 33% 34 35% N Y New Haven 16% 15% 15%, 16 N Y Ont & West 8% 7 % Norfolk & Wes 175 Nor Pac 27% 25% 26 26 *4 Penn R R 31% 31 31 31% Sou Pac 23% 22% 22% 23>/a Sou R R 26 24% 25% 26 Sou R R pfd... 33% 32 32% 32% Union Pac 123 121% 121'% 121 % West. Maryland. 12% 11% 11% 11% Equipments— Allis Chalmers.. 17% 16% 16% 17 Am Brake Shoe 27% 26 277% .. Am Car & Fdy. 22 21% 21% 22% Am Loco 26% 20 26 26% Am Loco pfd 56 Am Mach & Fdy . • • . 15% Am Steel Fdy... 17% 17 17 17% Bald Loco . .. 11% 11% 11% 11% Bald Loco pfd . ■ . 48 47 Burroughs 13% 13% 13% 14 Case J I 52% 50% 51% 52% Cater Tract 28% 28% 28V* 28% Deere & Cos 22% 21% 21% 22 Elec Stor Bat.. . . 41% Foster Wheeler . 15% 15% 15V* 15% Gen Am Tk Car 37% 36% 36% 38 Gen Elec 20% 19% 20 20% Gen R R Sig ... 34% 33% 34% 33% Ingsol Rand .... 53% 53 53 53’% Int Bus Mach... . 135 136 Int Harvester .. 34% 32% 33% 33 s * Natl Cash Reg.. 16% 15% 16% 16% Pullman Inc ... 50% 50 50 50% Rem Rand 10% 9% 10 10 Und Elliot 40 39 39 40% West Air B 29 28% 28% 27% Westingh Elec - 34% 32% 33% 34% Worthington Pm 21% 21% 21% 20% Utilities— Am & For Pwr 3% 8% 8% 8% Am Power & Lit 7% 7% 7% 7 s * AT&T ...116% 114% 115% 115% Am Wat Wks . . 19% 18% 18% 18% Col Gas & Elec. 13% 12% 12% 12’* Col G & E pfd . . . . 72% Com & Sou 2% 2% 2% 2% Consol Gas . 34% 33*4 33% 33's Elec Pwr & Lit. 6% 6 6 6 EP & L pfd 14% 14% Int Hvdro Elec . 7 6% 6% 6% Int TANARUS& T 13% 12% 12% 13% Lou G& E "A". 17 16% 17 16% Nat Pwr & Lit • 10% 10% 10% 10% North Amer . 17% 16% 16% 17 Peoples Gas ... 30% 30 30% 32 Postal Tel pfd .. . 19% 20% Pub Serv N J .. 36% 35% 36 36 So Cal Edison... 17% 16% 16% 17 Std Gas 10’* 10% 10% 10 * Std Gas pfd 12 11% 11% 12% Stone & Webster 8% 8% 8% 8% United Corn .... 5% 5% 5% 5% Un Gas Imo 16% 16 16 16% Ut Pr Lit "A”. 3% 2% 3% 3% Western Union . 44 % 44 44 45 Rubbers— Firestone 19% 19 19 19% Goodrich 19% 19 19 19% Kell Soring .. 2% 2% 2% 3 U. S. Rubber .. 20 18% 19 20% U. S. Rubber .. 20 18% 19 20% Miscellaneous— Am Bank Note. 22% 20% 20% 22, Am Can .... 95% 94% 94% 95% Anchor CaD • 20% 20% Brklvn Man Tr 37% 36 37 37 Conti Can ... 75'* <5 (5 75% Crown Cork .. • 27 27 Curtis Pub 23% 22% 22% 22% Curtis Pb Pfd . 75 74% (5 75 Eastman Kodak 94% 93% 94% 94% Gillette 10'* 10% 10% 10% Glidden .... 26% 25% 25% 26% In Rapid Tr .. . 7% 8 Owens Bottle . 77 <5% <6 <5 Raybestos Mfg 18% 17% Foods— Am Sugar 53% 52% 52% 53% Armour A 6’* 6% 6% 6% Beatrice Cream 15’* 15% 15% la 5 * Borden Prod ■ 24% 24 24 25 Cal Packing .. 32 s * 31% 31% 32 s * Can Drv G Ale 23% 22% 22% 23 Coca Cola 123% 122% 123 119 Cont Bak A.— 9% Corn Prod 67% 66% 66% 66% Crm of Wheat . 33% 32% 33 33 Cuban Am Sug • 7% 7% 7% 7% Gen Foods 32 s * 32% 32% 32% Gold Dust 20% 20% 20% 20% G W Sugar 29% 27% 29 28 Hershev 62% 63% Int Sait Loose Wiles .... 39% . Natl Biscuit .... 36’* 36 36 36% Natl D Prod .... 17 16% 16% 16’* Furitv Bak <■ 14% 14 s * S Porto Rico Sug 31 30% 30% 30% Std Brands 20% 20 20% 20% Un Biscuit 25% 25% 25% 25% United Fruit .... 71 70% 70% 70% Wriglev ... 60% Retail Stores— As Drv Goods 13% 13% 13% 13 Best & Cos 30% 30 30 First Natl St . 62% 61 61% 60 Gimbe! Bros . Gimbel pfd ...... • ■ • ... 23 Gr Un Tea ... 6% Hahn Dept Sts s’* s s * 5% Jewel Tea 46% >reser S S 18% 18% 18% 18% Trotter Groc 39 25% 29% 29% Maev R H 42% 41% 41’, 42% Marshall Fields 15% 15% 15% 15 •%' r>nt St 37'j . ”c-t Ward 26 25% 25% 2* N'tl T-’ 13% 13 13% 11 Pennv J C ...... 60 59 59 59 Safeway St .. .. SB% 49 49 *i%

THE INDIANAPOLIS TIMES

'Sears Roebuca .. 43% 42% 43 43% Woolworth 51 50% 50 ® 50% Aviation— Aviation Corp ... 7% 7 7 7% Curtiss Wright 3% 3 1 2 3% 3% i.Curt Wright A' 1 10’ 4 9'* 9’* 10% , Douglas Air . ... 21% 19% 20% 20- 4 ; North Am Av... 5% 5% 5% o ! Speerv Corp -■ 9% 8% 9% 9% United Aircraft . 22% 21 21’* 21j* Wright Aero .... 52% 51 52 52% Chemicals — Air Reduction .. 97 96% 97 96% Allied Chem ...136 134 134 132 Am Com A1c0... 39% 38% 38'2 39% Col Carbon 66% 64% 64% 66°* Com Solvents ... 23% 22% 23 23% Dupont 85 82% 83% 85% Freeport Tex ... 39% 39% 39% 40 Liquid Carb ... 29 27% 27% 28% Math Alkali ... 31% 30 31% 31 Montos'ta Chem 45 44 45 42% Natl Dis (new) 26% 25% 25% 26% Scheqelev Dist 26% 27% 28 28% Tex Gulf Sulph 34% 34% 34% 34% Union Carbiae. 39% 38 s * 39 39% USlndusAlcohol 42% 40% 40% 42% Vir Chm6<%pfd 19 19 Drugs— Coty Inc 6% 6 Lambert 25% 25 Lehn & Fink 21% Un Drug 16 15% 15 s * 16% %onite Prod .. 5% 5% 5% 6 Financial— Adams Ep .... 8% 8% 8% 8% Allegheny Corp 32% 2’* 2% Am Int Corp .. 8% 8% 8% 8% Chesa Corp ... 44 % 4% Lehman Corp ... ... .. 67% Transamerica . 6% 6% 6% 6% Tr Conti Corp... 4% 4% 4% 4 s ,* Building— Am Radiator ... 14V* 13’* 13’* 14V* Gen Asphalt 19% 18%, 18% 19% Int Cement .. .. ' 25 24% Johns Manville . 49% 48% 43% 49 % Libbv Owens Gls 31% 31 31 31% Otis Elev 15% 15V* 15% 15% Ulen Const 2 s * 2% Household— Col Pal Peet 14% 14'% 14% 14% Congoleum 26% 25% 25% 26% Kelvinator 17 16% 16% 16% Mohawk Carpet . 18% 18 18 17% Proc & Gamble.. 34% 34% 34% 34% Simmons Bed .. 17% 16% 16% 17% Textiles — Amer Woolen ... 11% 10% 10% 11’* Belding Hem ... 13 12% 13 12% Celanese Corn .. 26% 26% 26% 27% Collins Aikman . 18% 18 18 18% Gotham Hose .. . 3% 8% Indus Rayon ... 73V* 73 73 73% Kayser Julius .... ... 16% 16 Real Silk 9 New York Curb tßy Abbott. Hoppin & Cos.) —May 18— Closel Close Allied Mills .... 71* Gulf Oil of Pa.. 61 Alum Cos of Am 68 i Hiram Walker. 34V* Am Cyanide B 18% Hud Bay Min... 13% Am & F Pow W 5%: Humble Oil 42% Am Gas & El.. 24% Imperial Oil Ttd 14% Am Superpower 2% Int Petrol .. . 26% Ass Gas & El.. 3*.Lake Shore Min 49% Atlas Corp lo’*!Libby McN Lib.. 5% Brit Celanese... 3V* Lone Star Gas . 6 Can In Ale A... 11’* Natl Bellas Hess 3% Can Marc 2 s * Newmont Min.. 49% Carrier Corp .. 8% Nia Hud Pwr... 5% Cities Serv ... 2% Parke Davis ... 23% Comonwelth Ed 51% Penn Road .... 2% Con Gas of Bal 60% St Regis Paper. 3% Cord Corp .. 5% Sal Creek Prod. 6’* Crown Corp Int 7% Sherwin Wms... 68’* Deere & Cos 21% Std of Ind 26V* Distillers Corp. 16% Std of Kv.. ... 15% El Bond & Sh.. 14V*iTechnicolor Ind. 9% Fisk Rubber.... 14 ITeck Hughss G 6 Ford of Can A 21%1Un Gas 2V* Ford of Europe. 9 lUn Pw’ &Lt A 3 Gen Aviation 4V*!Wright Harg M 9 Glen Alden Coal 16 | U. S. GOVERNMENT BONDS ißv United Pressl NEW YORK. May 18.—Closing liberties. (Decimals represent thirty-seconds). Liberty 3%5. 132-47) 103.26 First 4% s (32-47) 103.30 Fourth 4%s (33-38) 103.30 Treasury 4 % s—3 % s 145) 102.30 4%s (47-52) 111.29 3%S (43-47* 103.25 3%s *4l-43* March 103.30 3%S (40-43) June 104. 3%s 1411 103.22 3%s (46-49) 101.25 3s (51-55) 100.23 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —May 18— 4s Nov. 1. 1957-37 100% 101% 4s Mav 1, 1957-38 100 s * 101V* 4 1 1 s July 1, 1956-36 100% 101% 4%s Jan. 1, 1957-37 100% 101% 4%s May 1, 1057-37 100% 101-% 4%s Nov. 1, 1958-38 100V 4 101% 4%s May 1, 1942-32 100% 101% 4%s Jari. 1, 1943-33 100% 101 4%s Jan. 1, 1953-33 100% 100% 4%s July 1, 1953-33 100% 100% 4%s Jari. 1. 1955-35 100% 101 4%s Jan. 1, 1956-36 101 101% 4%S Julv 1, 1953-33 100% 101% 4%s Jari. 1. 1954-34 100% 101% 4%s Julv 1. 1954-34 100% 101% 5s May 1. 1941-31 100% 102% 5s Nov. 1, 1941-31 100% 102V* —Home Loan—--4s July 1, 1951 100.18 100.26 —Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 .... 101.18 101.26 The two later quotes are in thirty seconds. In the Cotton Markets —May 18— CHICAGO High. Low. Close. January 11.92 11.90 11.90 March 12.04 12.92 11t96 May • • 11.48 Julv 11.59 11.47 11.52 October 11.76 11.64 11 68 December 11.87 11.76 11.82 NEW YORK January 11.87 .73 .82 March 11 97 .86 .31 May 11.42 11.34 11.38 Julv 11 52 11.33 11.45 October 11.63 11.56 11.64 December 11.81 11.68 11.76 NEW ORLEANS January •••• 11.76 March 1185 Mav 11 42 11.34 11.34 July 11.50 11.38 11.41 October 11.65 11.63 11.58 December 11.78 11.67 11.70 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 Prices Anthracite $14.25 Brazil lump 5.75 Brazil egg 5.25 Brazil mine run 5.00 Coke, nut size 8.75 Coke, egg size 8.75 Indiana forked lump 5.50(35.75 Indiana, egg [email protected] Indiana, mine run 5.00^5.25 Kentucky lump 7.00 Pocahontas lump 8.25 Pocahontas egg 8.25 Pocahontas forked lump 9.25 Pocahontas mine run 7.25 New River smokless ?.. 8.25 West Virginia lump 6.75 West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin. AGREEMENT REACHED AT WORLD WHEAT PARLEY Delegates Believe Conference Will Save Nation’s Control Plan. By United Press LONDON. May 19.—Delegates of four great wheat producing countries. Including the United States, yesterday reached an agreement which they believe will save the world wheat control plan from failing. Canadian and Australian representatives, along with the American delegation of the advisory wheat conference, agreed to increase the Argentine export quota provided that Argentina began to restrict production. The increased quota would cover the 1934 and 1935 crop years, and end July 31. 1935. Delegates of all four nations cabled their governments recommending acceptance. Argentina would agree to an export quota of 50.000.000 bushels a year, instead of 40,000,000 for Soviet Russia. SUGAR DELIVERIES’ UP April Total 330,016 Bags Above Same Month Last Y'ear. NEW YORK. May 19.—Deliveries of domestic beet sugar during April totaled 2.679.834 bags, an increase of 330,016 bags over the figure of 2,349.818 in April, 1933. Deliveries in the first quarter of the current year also showed an increase, totaling 10.940.339 bags, against 8.709,635 bags in the first quarter last year, an increase of 2,230,704 bags.

PORKER PRICES STEADY TOIO CENTS HIGHER Lamb Values Rise Sharply; Cattle, Veals Show Little Change. Porker prices were generally steady to around 10 cents higher than Thursday's close in early trading at the Union Stockyards yesterday. The advance was noticed mostly in lightweight classes. Bulk of 160 to' 350 pounds was selling from $3.60 to $3.70. Several better grade hogs were salable up to $3.75. Lightweight kinds, weighing 130 to 160 pounds, brought $2.75 to $3.25, while 100 to 130 pounds sold at $2 to $2.50. Receipts were estimated at 8,000; holdovers. 313. Trading on slaughter steers in the cattle market was fairly active and steady with the previous session. Majority of cattle were inactive. Receipts numbered 400. Vealersheld stationary, selling at $6 down. Receipts were 400. Initial sales were strong in the lamb market with shorn grades moving around 50 cents higher. Other classes remained unchanged. Bulk of shorn kinds sold at $9. Springers ranged from $10.50 down, while slaughter sheep held at $3 down. Receipts were 900. Hog market at Chicago held about steady with Thursday’s average. The bulk of 260 to 290 pounds was bid in at $3.60 to $3.70. Receipts were estimated at 18,000, including 11,000 directs; holdovers, 3.000. Cattle receipts numbered 2.200; calves. 800; market unchanged. Sheep receipts were 7,000; market unchanged. HOGS May. Bulk. Top. Receipts. 11. $3.55@ 3.70 $3.75 5.500 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 18. 3.60® 3.70 3.75 8,000 Market, uneven. (140-160) Good and choice... .$3.00® 3.35 —Light Weights—-(l6o-180) Good an dchoice.... 3,80 (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® 2.85 —Slaughter Pigs)— (100-130 Good and choice.... 2.00® 2.50 CATTLE Receipts, 400; market, steady. (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 steers) 3.00® 3.75 Cutter, common and medium.. 1.75® 3.00 VEALERS Receipts, 400; 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 (.800-1.500) Good and choice 4.50® 6.00 Common and medium 3.00® 4.50 SHEEP AND LAMBS Receipts, 900; market, higher. (Shorn basis) Spring lambs $ 8.50®10.00 (90-lb down) Good and choice 8.50® 9.00 (90-100-lbi Goon and choice 8.25® 8.75 (500-lb. down) Com. and med. 7.00# 8.25 —Ewes— Good and choice 2.00® 3.25 Common and medium I.oo® 2.00 Other Livestock (By United Press) CHICAGO. Mav 18.—Hogs—Receipts. 18.000 including 11.000 directs; moderately active; about steady: 150-350 lbs., $3.50® 3.70; top $3.75 for best 210-240 lbs.; most pigs, $2.50 down: packing sows, $2.75®3; light lights. 140-160 lbs., good and choice. $3®3.60; light weight, 160-200 lbs., good and choice, $3.40'5 3.75; medium weights, 200-250 lbs good and choice, $3.60®3.75; heavy weights 250-350 lbs., good and choice. [email protected]; packing sows. 275-550 lbs., medium and choice, [email protected]: slaughter pigs, 100-130 lbs., good and -choice, s2® 3. Cattle—Receipts. 2.200; calves. 800; fully steady on all grade and classes; little beef in run and supply weighty steers too small to make a market; bulk light cattle. $5.50® 7; sprinkling, $7.35@8 paid for long yearlings and part loads weighty steers; all yearlings and light heifers and mixed yearlings meeting active clearing; bulk better grade heifers, [email protected]; good cows up to $5; slaughter cattle and yearlings: steers 550-900 lbs., good and choice, $6(5; 900-1.100 lbs., good and choice, [email protected]; 1.100-1,300 lbs., good and choice. $6.75(39.25; 1,300-1,500 lbs., good and choice, $7.25®9.25; 550-1.300 lbs.. common and medium. $4.50@7; heifers 550-750 lbs., good and choice, $5.50 @7; common and medium, $3.50®5.25; cows good. $4.25®5.25; common and medium. $2.905 4 25; low cutter and cutter. 51.65®2.90: bulls yearlings excluded, good beef. 53.25®3.75; cutter common and medium, $2.56(53.25; yearlings good and choice, $556.50: medium. $3.75®5.50; cull and common, $353.75; Stocker and feeder cattle: steers. 550-1.050 lbs.. good and choice, $4.755 6; common and medium, 53.50®5. Sheep—Receipts. 9.000: lambs active and opening 10c to 25c higher, some asking more; spring lam's strong to 25c higher but aged sheep 25c to 50c lower; early bulk clipped lambs $8.60 down, top $8.70: native springers $10#10.75; lightweight ewes $3; slaughter sheep and lambs: spring lambs good and choice. $9.50510.75; medium, $8.755 9.50: lambs 90 lbs. down, good afid choice, $8 155 8.70; common and medium, $6.505 8.25: 90-98 lbs., good and choice, SBS 8.70: ewes, 90150 lbs., goo dand choice. $25 3.25: all weights common and medium, $1 505 2.75. FT. WAYNE. Mav 18.—Hogs—Steadv; 250-300 lbs., $3.65: 200-250 lbs.. $3 60; 160200 lbs . $3.50: 300-350 lbs.. $3.35:' 150-160 lbs.. $3 1: 140-150 lbs.. $2 85: 130-140 lbs.. $2.60: 120-130 lbs.. S2 10: 100-120 lbs.. $1.85; roughs. $2.75; stags. $1.25; calves. $6: lambs $9 down. LAFAYETTE, May 18—Hogs—Market, steady to 10c higher: 200-300 lbs., $3.55: 160-200 lbs.. 53.355 3.45: 140-160 lbs. $2.75 53: 120-140 lbs.. $2 25 5 2.50: 100-120 lbs.. 51.75 52: roughs $2.75 down; top calves, $5; top lambs, $8.50; spring lambs. SBS 9. (By Times Speciali LOUISVILLE, May 18—Cattle—Receipts. 150, including 68 directs: salable supply very light: market, moderately active, fully steadv: bulk common to medium steers and heifers. $455: cutter grades, down to $3.50; best dryfeds quotable to $6.25: bulk beef cows. $2.755 3.50; most low cutters and cutters, $1.255 2.50; sausage bulls. $3.25 down; bulk desirable light Hereford and shorthorn stockers. $4,505 5; common to medium grade native and southerns. $2.755 3.75. Calves—Receipts, 500; market, steady: bulk better grades vealers. $4.50® 5; strictly choice handvweights. $5.50; medium and lower grades. $4 down. Hogs—Receipts. 1.800: market, steady to 5c higher; advance on weights from 180-275 lbs.; bulk such kinds. $3.85; 275 lbs., up $3; 160-180 lbs.. $3.60; 140160 lbs.. $3.35: 120-140 lbs.. $2.50; 100120 lbs.. $2: sows $1.70. Sheep—Receipts, 1.900: market not established: early indications fully steadv; run includes liberal ouota longhaul overnight and rail lambs: holding these up to $10.50 or better: most b:ds on better trucked in ewe and wether springers. S10: old crop sheep and lambs, steadv: medium to good clipped lambs $6 ®7; clipped ewes, $25 3. RUBBER DEMAND DROPS April Consumption by Manufacturers Total 25,928 Tons. By Times Special CHICAGO, May 19. April consumption of crude rubber in the United States by manufacturers totaled 44.947 long tons, against 47.059 tons in March and 25.928 tons in April of the previous year, according to the Rubber Manufacturing Association. Total domestic stock of crude rubber on hand April 30 were estimated at 351.981 tons, compared i with 353,<U2 tons as of March 31.

Chicago Stocks Pv Abbott. Hoopla St Cos. ————

TOTAL SALES 35 000 SHARES Mav 18— High. Low. Close. Abbot Lab 51% 49 2 51 a Adams Rovaltv ■J.* Allied Products • ‘J.* Am Pub Serv. pfd 10 9 * Asbestos Mfg •• * * Berghoff 6% ® * ” * Backstay-Welt ?, Bastian-Blcssmg •• • Bendix Aviation 16% 15 2 JJ • Borg-Warner 23 22 23 4 Brach & Sons • Brown Fee & Wire "A 11% 10% 1" a Brown Fee & Wire "B ’ . • ButleV Bros 9% 9% *,9% Cent 111 Pub Serv. pfd . . •• s,* Cent & So West pfd ... 7% 7 < Chi & North Western.. 10 s * 10 * Chicago Corp Com 2 s * 2% 2 4 Chicago Corp pfd • 26% 26% .6 4 Chi. No Sh&MU RR. pfd . ’ Chicago Yellow Cab 16% 16% 16-•* Cities Service ... 2% 2% 1 1 Commonwealth Edison.. 52 51% 51 a Continental Steel • 7 Cord Corp 5% 5% 5. Crane Cos 9% 9% 0% Curtis Mfg Cos 6% 6% 6 s Chicago Ribbon 15% 14% 15 4 Deep Rock Oil • 6% Gen Household Ut ... 14’ 13% 14 Houdaille-Hershey B . 5% 4% 4- 4 Iron Fireman JJ Jefferson Elec 11% Kentucky UtJr Cumpfd • 1* Kevstone Steel 20% 20 20 2 Kirsch Mfg pfd •• ’■ Kingsbury 5 4% 5 Libby-McNeil 5% 5% 5% Lynch Corn 29'* Marshall Field .... . -• lj * Mtckelberrv's Food Prod 1% 1* 1 2 Middle West Utilities % Middle W Ut 6% pfd f s * Midland United % Monroe Chemical 5

Bright Spots (By Abbott. Hoppin <st Co.)—"

Abraham & Straus Cos. declares an extra dividend of 15 cents a share on the common stock, in addition to the regular quarterly dividend of 30 cents a common shares. Anaconda Copper Mining Company and subsidiar’es in the quarter ended March 31 had a net income of $1,636,468 after all charges, rqual to 19 cents a share on the common stock. International Nickel Company and subsidiaries in the first quarter of the current year had a net profit of $5,049,276 after ' all charges, equal after preferred dividend to 31 cents a share on the common stock. In the first quarter last year the company had a net loss of $80,158. Southern Railway Company March net income totaled $368,616 after all charges, against a net loss of $734,469 in the same month last year. Seaboard Oil Company declare* the, usual extra dividend of 10 cents in addition to the regular quarterly dividend of 15 cents a common share. Noranda Mines in the quarter ended March 31 earned 73 cents a share on the common stock against 30 cents a share in the first quarter last year. f Caterpillar Tractor Company In the four months ended April 30 earned 61 cents a share on the common stock against a net loss of $391,780 in the first four months last year. Beechnut Packing Company declares the regular quarterly dividend of 75 cents a share on the common stock. Texas Gulf Sulphur Company declares the regular quarterly dividend of 50 cents a common snare. Montgomery Ward Stores net income in three months eneded April 30 amounted to $2,261,097 against a net loss of $2,196,099 in. the corresponding 1933 period. Evans Product Company in four months ended April 30 had a net profit of $750,916. equivalent to $3.08 a common share. Pennsylvania Railroad Company net income in the quarter ended March 31 amounted to $3,808,011 against a net loss of $1,793,554 in the similar 1933 period. Norfolk and Western Railroad Company car loadings in the w r eek ended May 12 totaled 18,520 cars against 14,034 cars in the like 1033 week. 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 under 55 lbs. will be made. Butter—No. 1, 27@28c: No. 2, 25@26c; butterfat. 20c.— Quoted by Wadley. (By United Press' CHICAGO. Mav 18.—Eggs—Market, unsettled; receipts. 29.178; extra firsts, 16%c; fresh graded firsts. 15%c: current receipts, 14®14%c; dirties No. 1, 13%c; No. 2. 12c; checks No. 1. 13’ic; No. 2. 12c. ButterMarket. steady; receipts. 13.490 tubs: extra firsts, 90-91% score, 22@22%c; firsts. 8889% score. 21V 4 ®21*/ 4 c; extras, 92 store. 22%c: specials. 23®23%c; standards, 23c. Poultry—Market, easy: receipts 36 trucks, 1 car; hens, light. 12%c: heavy hens, 12c; old roosters. 7%c; geese. 6c; broilers, colored and w'hite rock. 22c; turkeys. 18c; heavy spring ducks. 11® 13c; Leghorns, No. 2,9 c; capons unquoted; rock fryers, 26c. Cheese—Twins, 18%@12%c; daisies. 13®' 13’ 4 c; Longhorns, 13®13!' 4 c. Potatoes old stock —Supply moderate; demand and trading slow'; market, about steady; Idaho Russets. $1.30® 1.45: U. S. No. 2, $1.15; Wisconsin Round Whites, $1.20; unclassified. 85c; Minnesota Cobblers. 1 car $1.05. Arrivals—76; on track. 189; shipments, 810. CINCINNATI. May 18. Butter—Packing stock No. 2. 15c: butter fat. 20c. Eggs —Steady. Extra firsts. 14%c; seconds, 13c; nearby ‘ ungraded, 13%c. Live poultry— Fowls, 5 lbs and over. 12’ic; 4 lbs. and over. 12%c: 3 lbs. and over. 12%c: Leghorns. 3 lbs. and over, lie; roosters. 7c: 1934 colored broilers. 1 lb. and over. 21c; 1% lbs. and over. 23c; 2 lbs. and over. 25c: partly feathered broilers. 18c: 1934 leghorn broilers, 1 lb. and over, 18c; 1% lbs. and over, 22c; 2 lbs. and over. 22c. Ducks, white. 4 lbs. and over. 8c: under 4 lbs.. 6c; colored. 4 lbs. and over. 6c: under 4 lbs.. 6c: guineas, old. 13c; No. 1 turkeys, young hens. 8 lbs. and over, and young toms, 10-15 lbs., 13c; young toms, over 15 lbs.. 13c; No. 1 old toms. 13c. NEW YORK. Mav 18.—Potatoes, steady; Long Island, $1.75® 1.90 barrel: southern, $1 15® 1.75 barrel; Main. $1®2.75 barrel; Idaho' $1.75 sack: Bermuda. $6 barrel. Sweet potatoes, steady: Jersey basket. $1.60®2; southern. 51.40W1.75. Flour, firm: springs: patents, $6.85®,7.10 barrel. Pork firm; mess, 520.25 barrel. Lard, firm: middle west spot, $4.15%4.25 per 100 lbs. Dressed poultry, steady; turkeys. 12®37c; chickens. 9® 28c; broilers. 18® 28c: capons, 21®24c: fowls. 12®17c; Long Island ducks, 15® 16c. Live poultry, quiet; geese, 6® 7c; turkeys, 10® 17c; rosers, 10c: ducks, 8® 12c; fowls. 14® 17c: chickens. 10c; capons. 22c; broilers. 10®23c. Cheese, quiet, state whole milk; fancy to special 18® 19c; voung America, 13%@14c. Butter —Receipts, 9,195 packages; market, unsettled. Creamery, higher than extras. 24%@25%c; extra (92 score) 24%c: first. 190 to 91 score). 23’.®23%c: first (88 to 89 score 1, 22%® 22%c; seconds. 22c: centralized ( 90 scorei, 23Uc; centralized (88 to 89 score), 22%®22%c; centralized (84 to 87 score). 22c. Eggs—Receipts, 28.608 cases; market. weak; special packs, including unusual hennery selections. 18%®20%c; standards. 18c: firsts. 16® 16%c: seconds, 15%c; mediums. 15®15’ 4 c: dirties. 15® 15’ic; checks, 14%c; storage packs, 17%® 17%c. On Commission Row —May 18— —Fruits— Apples—New York Baldwins, fancy. $1.85; fancy Ben Davis. Indiana $1.75; fancy Winesaps, $2.15®2.50. I 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. Melons —Argentina Honevdews. $3. 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. Onions—lndiana yellow. 50-lb. bag. 75c. Potatoes—Northern round white 100-lb bag. $1.75; Red River Ohios. $1.75: Maine Green Mountain. $2.10; Colorado McClures, $1.90; Idaho Russets. $1.90: Idaho Russets. 100-ib. bag. $1.90; New Texas Triumphs. $1.90. Sweet Potatoes—Tennessee Nancy Halls, crate, $2. Asparagus—Home grown, dozen. 50®85c. Beans—Round, stringless. $1.250 2. Beets—New Texas, 3-dozen crate, $1.75. Carrots —Ctlifornia, S-dozen crate. $2.75; bulk, new, Sl.oO. Cauliflower—California. $1.90. Lettuce —Hot house. 15-lb. basket. sl.lO. Iceberg, best. s4® 5 50 a crate. Peas—2 B-lb. hair per. $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-ib. lug.. $3.50 CHICAGO FRUIT MARKET ißv United Press) CHICAGO. Mav 18.—Apples—Michigan spies. $1.75®2 bushel Carrots—Southern. 60® 65c bushel. Beans—Southern green. 5 75® 1.25; wax. f.7o® 1.25. Cucumbers Central western hothouse. $150®2 25 *2 doz to boxi. Tomatoes—Florida. $2 25® 3; lugs box. Sweet potatoes—Tennessee. $1 65® 1.75. Mushrooms—lllinois. 17%®50c db. cartons*. Asparagus—lllinois 40®50c flat crates. Strawberries—lllinois. $1.75® 2.50 <24 boxes*. Onion market )50 lb. sacks*: Texas yellows s7s® 1; Texas aiutes. $.7561; California whites, $1.25.

Muskegon Mo Spc A .. 10 Noblm-Spar.cs Ind Inc 13% 13’, 13’. Penn Gas & Elec .. 15% Prima Cos 8 7’* 7’. Public. Service N P 18% 18 18 . Quaker Oats 110 Sou Un Gas 1 Swift & Cos 15’* 15% 15% Swift Ir.temacionai .. 30% 30', 30% Vortex Cup Cos 11% Wahl . 71, Walgreen Cos Com .. 26% 26% 26% Ward. Montgomery A" 106% 105 106

Cash Grain

—May 17— INDIANAPOLIS 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. 80%82%c No. 2 red. 79%#80%c; No. 2 hard. 79%® 90 %c. Corn—Firm: No. 2 white 47%®49%c 3 w hite. 46%®48%c: No. 2 vellow, 45 ■: 47c; No. 3 vellow. 44046 c. No. 2 mixed 44 ® 46c. No 3 mixed. 43 <5 45c. Oats—Weak. No. 2 white, 32®33c; No 3 white. 31®32c ■—lnspections— Wheat —No. 1 red, 1 car; No. 2 red, 2 cars. Total. 3 cars. Corn—No. 2 white. 1 car; No. 3 white. 4 cars: No. 2 yellow. 16 cars No 3 vellow 6 cars; No. 4 yellow. 2 cars. No 5 vellow, 1 car: No 6 mixed. 1 car. Total. 31 cars Oats—No. 2 white. 9 cars; No. 3 white 7 cars; sample white, 2 cars. Total. 18 cars. Local Wagon Wheat City grain elevators are paying 79 cents for No. 2 soft red wheat. Other grades on their merits. (By United Press) CHICAGO. May 18, —Cash grain: Wheat No. 2 hard. 92c: No. 3 hard. 89%c; sample grade hard. 82%c; No. 2 hard weevily, 89c. Corn—No. 3 mixed. 49c; No. 2 yellow, 51® 51%c; Lake Billing: No 2 velow old. 51%® 51 %c; No 4 yellow. 50'2c: No. 6 vellow , 49%c; No 2 white. 57®57%c. Oats —No. 2 white. 36®37Vic; No. 3 white. 35%®36c; No 4 white. 34%®35c; sample grade. 31%c. Rve—No sale. Barle-v—s7@79e: quotable. 45®80c. Timothy— $6.75® 7. Clover Seed —sloo 14 25. Cash provisions; Lard, $6.12; leaf. $5.75: Bellies $8.37. TOLEDO. Mav 18.—Grain close: (Grain in elevators, transit billing). Wheat—No. 2 red, 90%®91%c. Corn—No 2 vellow, 55056 c. Oats—No 2 white. 40®41c. Rye —No 2. 62%®63%c. (Track prices. 28%c rate). Wheat—No. 1. red 87®87%c; No. 2 red. 86®86%c. Corn—No. 2 vellow. 50% ®sl%c; No. 3 yellow. 49%®50%c: No 4. yellow. 48%® 49%c. Oats—No 2 white, 36%®38c: No. 3 white. 36®37%c. (Toledo seed close). Clover—Cash. $8.25. ST LOUIS. May 18.—Cash grain closed: Wheat—ln fair demand, l%c to 2%c lower and 2%c lower on hard: No. 2 red. 86%c; No. 3 red garlicky. 85c: No. 2 hard. 87%c nominal. Corn—ln fair demand, unchanged to lc higher; No. 2 mixed. 53c: No 6 mixed. 49c: No 2 yellow, 52%c to 53c: sarmfle grade yellow, 49 %c. Oats— In fair demand, %c to lc higher; No. 2 white, 37%c; No. 2 mixed, 37%c. SALE GRANT APPEALED BY CITIES SERVICE CO. Firm Contends Standard Offer for Rtehfield Oil “Inadequate.” By Times Special LOS ANGELES. May 19. _ The Cities Service Company was granted permission here this week by Federal Judge W. P. James to appeal from the recent court order authorizing the reorganizing committee of the Richfield Oil Company of California to proceed with a plan involving sale of Richfield properties to Standard Oil of California. Cities Service officials contend that an internal reorganization of the company would provide a greater return to bondholders than an outright sale, and stated that the price of $23,500,000 offered by Standard two years ago is “grossly inadequate'’ under present improved conditions. Marriage Licenses Clarence York. 23, of 308 North New' Jersey street, laborer, and Dessie Adams, 18. of 635 North Noble street, housekeeper. Mack O’Bannon. 60. of 500 West Twelfth street, laborer, and Josephine Hall. 50, of 500 West Twelfth street, housekeeper. Carl Logan. 47, Amo. Ind.. Hendricks county surveyor, and Edna New, 48. of 1350 Parker avenue, nurse. Donald Goens. 24. Richmond, Ind., musician, and Cupid Reeder, 19. of 715 North Capitol avenue, clerk. Glen Thompson. 21. of 1803 Mansfield street, clerk, and Mildred Litteli, 18, of 3118 East St. Clair street, housekeeper. Charles Shulhafer. 22. of 3859 Winthrop avenue, salesman, and Lucia Haston, 21, of 3859 Winthrop avenue, housekeeper. Clifton Rousch. 26. of 1516 North Olney street, barber, and Edythe Eaton. 22. of 1020 North Parker avenue, stenographer. Marion Roberts, 33. of 744 West drive. Woodruff place, auditor, and Mary Bowman. 31. of 26 East Fourteenth street, John L. Price. 43. of 1619 Villa avenue, clerk, and Esther Baker. 31. of 1222 North Temple avenue, housekeeper. Births Girl* Thomas and Ida Layden, 326 Parkway. Albert and Reba Rogers, 254 West Raymond. Frank and Leota Batton. 367 Albany. Athol and Madge Hon, 4630 East Tw'en-ty-flrst. Boys James and Louise Sullivan. 1735 Union. Glen and Ella Cox. 1539 North Oxford. Glover and Dorothy Farmer, 3920 East Thirtieth. Deaths Emmett Layman. 55. Methodist hospital, pneumonia. Anna Shup. 89, 2835 East New York, hypostatic pneumonia. Mary Shouse Pine. 74. 1310 East Tenth, cardio vascular renal disease. Rufus Davis. 75. city hospital, carcinoma. Daniel M. Forsyth, 73, Long hospital, carcinoma Robert Cherer, 89. 2941 North Caroline, cardio vascular renal disease. Sarah A. Coinforth. 50, St. Vincent's hospital, general peritonitis. Norma Lewis, 11, 5229 Mathews, cerebral hemorrhage. Lee Adolphus Ross. 32, Methodist hospital. toxic myocarditis. Edith Margaret Smoot, 1. 2252 Holt road, brancho pneumonia Mary B. Echols. 70, 1036 North Orford, chronic myocarditis. Curtis 6. Herndon. 42, city hospital, lobar pneumonia. Justine Benton. 78. city hospital, arteriosclerosis. Margaretha Greiner. 87. 3350 Carrollton, coronary sclerosis. Joe A. Bookwalter. 34. Veteran's hospital, intestinal obstruction. Cassius M. Long, 73, Long hospital, pulmonary embolism. Virginia Mann. 80. 1468 North New Jersey, acute cardiac dilatation. Elvis Cork, 44. city hospital, acute appendicitis. Noah Curby. 69. Central Indiana hospital, hypostatic pneumonia. David Underwood, 67, 742 South Noble, broncho pneumonia. Plumbing Permits Wm. F. Steck. 4825 Sangster, two fix- ; tures. Bremer Bros.. 2314 Prospect, two fixtures. R M. Cotton. 219 Uorth Capitol, one fixture. Best Plumbing Cos.. 145 Berkley, two fixtures. Hawkins Bros.. 17 North Pennsylvania, one fixture Annex Plumbing. 1301 East Thirtyeighth. eight fixtures Geo. E. Conrod, 1201 Cornell, two fixtures. C L. Wilkinson, 1054 South Pershing, nine fixtures. B A. Wilson. 1572 Wade, three fixtures. Andy Owens. 273 Minkner. two fixtures. John Florence. 330 Indiana, two fixtures. Ed Bell. 1638 Gimber. two fixtures. Hawkins Bros., 451 West North, one fixtU paul Linn. 301 South Warman. three fixtures. John McAra. 3109 Jackson, five fixtures. Havs Bros . Massachusetts and East, six fixtures.

J 3-Pc. BED OUTFIT Hamlnnm* wood- 6* >■ Q C ')■ ton*- bed. Comfort- T I * *pi(ncs find | V-.a cotton niattre**. , a „. Term* WHITE FURNITURE CO.

Government Home Owners’ Loan Corporation and ' Municipal Bonds The Union Trust Cos. of Indianapolis BOND DEPARTMENT 120 E. Market Riley 5341

MAY 19, 1934

GRAINS SLUMP AFTER ERRATIC PRICE CHANGES Forecast of Showers Over Drought Area Starts Selling Wave. BY HARMAN W. NICHOLS United Pres* Staff Correspondent CHICAGO. May 19. Cross currents of influence factors induced an unsettled tendency over grain prices on the Board of Trade yesterday. Wheat closed l l * to IT*1 T * cents lower, corn was up to % to cent, and oats were \ to 1 cent lower. Drought continued throughout the spring wheat belt with only scattered rains reported in Alberta and southwestern Saskatchewan and in parts of Montana. Forecast for showers brought sellers into the market early and at the extreme wheat sold off about two cents from yesterday's close. Aggregate trade, however, was not large and the market was easily influenced. Price changes throughout the day were erratic with the trade paying attention to the action of stocks and the Winnipeg market. Part of the rapid price changes was regarded as due to the lack of a balance wheel in the way of broad j outside interest in the market. The shower report from Alberta had a depressing effect on the Canadian market and wheat prices there averaged lower for the day. Liverpool closed early today, % to \ cent lower, and will not open again until Tuesday morning, observing the Whitsuntide holidays. Corn showed more strength than other grains and averaged higher with buying headed by local operators. Complaints of serious chinch bug damage came from points in Illinois and lowa. Trade in oats was moderate and prices held to thin limits. Provisions were dull with prices showing little change. Chicago Futures Range ißy United Pres) —May 18— Wheat— Prev. May... .91 .91% .89% .89% .91% July... .89% .90% .87% .87% .89% I Sept -- .89 .90% .88% .88% .90% | Corn— Mav... .48 .49% .37% .48% .90% July .. .50% .51% .50 .50% .50% Sept... .51% .53% .51% .52 .51% Oats— Mav... .35 .35% .34 .34% .35% Julv... .34% .35% .34% .34% .34% Sept... .35 .35% .34% .34% .34% Rye— Mav... .55% .55% .54 .54% .56 July... .57% 57% .55% .56% .57% Sept... .59 .59% .57% .57% .59% Barley— Mav 43% .43% Julv .. .44 44', 4 .43% .44 .44% j Sept . .45 .45% .45 .45% .44% I Lard—- | May . 610 6.15 I Julv.. 6.20 6.20 617 6 17 6.22 Sept - 6.45 6.45 6.40 6.40 6.45 Oct 6 47 6 52 Dec . ... ... ... 6.62 6.65 Bellies— Mav 8 12 8 05 July 8 27 8 25 Sept ... ... 8.52 8 50 CHICAGO PRIMARY RECEIPTS —May 18— Bushels Todav. Last Week Wheat 659.000 376.000 Corn 292,000 277.000 Oats 177,000 171,000 PRINCIPAL 0N FEDERAL FARM LOANS REDUCED Credit Administration Announces New Refinancing Plan. By Times Special CHICAGO. May 19. The farm credit administration has announced the refinancing of farm mortgages by federal farm loan corporations from June 1, 1933, to Feb. 18, 1934. in Illinois, Missouri and Arkansas. The program, according to the administration, involves scaling down of principal on 15% per cent of the loans. The scaling down averaged 24.7 per cent of the principal of 19 per cent of the mortgages refinanced by the land bank commissioner, and 20.4 per cent on 12 per cent of the mortgages closed by the federal land bank. RETAIL FAILURES DIP # Total of 1.32 Compares with 143 in Previous Week. By United Press NEW YORK, May 19. Failure among retailers and manufacturers in the United States decreased last week, but increased slightly among wholesalers and other commercial concerns, Dun and Bradstreet, Inc. reported. Retail failure numbered 132, compared with 143 in the previous week and 261 in the corresponding 1933 week, while failures among manufacturers totaled 50, against 69 a week ago and 98 in the corresponding 1933 period. Stinson Names New Head By Times Special •WAYNE, Mich., May 19. The Stinson Aircraft Corporation here this week appointed B. D. DeWeese, as company president, to succeed L. B. Manning who has resigned. Mr. DeWeese has been vice-presi-dent and general manager of the firm since 1930.

Course ROAST Chicken Dinner 75 c con,riete Hot Weather LUNCHEON 30c omplete WINE SERVED By Bottle or Drink Prime Kosher Restaurant 53 \2 South Illinois St. LI. 0658