Indianapolis Times, Volume 46, Number 10, Indianapolis, Marion County, 23 May 1934 — Page 15

MAY 23, 1934.

SWINE VALUES REMAIN STEADY; VEALS STRONG Lamb Market Unchanged: Cattle Prices Show Weak Trend. Only a slight change was displayed in porker prices in early trading at the Union Stockyards this morning. Despite the lightest receipts of the week, practically all grades remained unchanged with yesterday's average. The bulk of 160 to 350 pounds, sold from $3.45 to $3.55 while good to choice classes were salable up to $3.60. Light slaughter pigs, weighing from 130 to 160 pounds, brought $2.75 to $3.25. Smallest weights available, scaling 100 to 130 pounds, were selling from S2 to $2.50. Receipts were estimated at 6.500. Holdovers, 297. Early trading developed slow in the rattle market, with price trend slightly lower. Most steers were salable under $7, w hile a single load of choice heifers sold down to $6 40. Other grades ranged mostly from $6 down. Receipts were 1.000. Strong undertone featured the veal market and majority of all classes on hand sold at $6 down. Receipts numbered 800. Lamb values continued stationary with the previous session. Bulk of shorn native grades were salable from $7 50 to $8 50. Spring lambs sold at sll down, while slaughter sheep brought $3. No western kinds were reported on hand. Receipts were 500. Initial asking on hogs at Chicago held steady with yesterday's average, while talking was around 10 to 15 cents lower. No early bids tvere reported. Receipts were estimated at 34,000, including 15 000 directs; holdovers, 2.000. Cattle receipts were 12.000; calves, 2,300; market, steady. Sheep receipts. 6.000; market, unchanged. HOGS Mav Bulk. Top. Receipts. 17 *1 60'./ 3 70 $3.75 7.000 is 3 60'.r .1.70 3 75 7.000 13 3 70® 3 80 3 80 2.000 31 3 50** 3 60 3 65 11.000 3 45*8 3 55 3 60 8 000 23. *S 45*/ 3 55 3 60 6.500 Market, Steady (140-1601 Good and rhoire S3.OO'S 3.25 —Light Weights—-(l6o-180( Good and choice 3 45 (180-200 Good and choice 3 50 —Medium Weights—-(2oo-2201 Good and choice . . 3.55** 360 (220-250i Good and choice ... 3.55® 360 —Heavy Weights—-(2so-2301 Good and choice ... 3.55® 3.60 1290-350) Good and choice . . 3.4548 3.55 —Packing So wail.so downl Good 2.75*? 3.00 (250 lbs I Good 2.50*? 2.90 (AH wclKhtsi Medium 2.25*8 2.75 —Slaughter Pigs—-<loo-1301 Good and choice ... 2.00® 2.50 CATTLE Receipts, 1,000; market, steady <1.050-1,100) Good and choice $ 6.75*? 8 25 Common and choice 4.50® 6.75 <l.lOO-1.5001-Good and choice 7.00** 9.00 Common and medium 5.50® 7 00 <675-7501-Good and choice 5.25*? 650 Common and medium 3.00® 5 25 <750-9001 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 excludedi Good (beef steers) 3.00® 3.75 Cutter, common and medium . 1.75® 3.00 VEALERS Receipt*, 800; market, strong. Good and choice $ 5.50® 6.00 Medium 3.50® 5.50 Cull and common -. 2.00® 3.50 Good an dchoice 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. 500; market, steady iShorn basis) Spring lambs $ 8.00*711.00 1 3n-lb. down) Good and choice 8.50® 9.00 (90-100-lb.i Good and choice. 8.25® 8.75 (500-lb. down) Com and mcd. 7 00*? 8.25 —Ewes— Good and choice 2.00® 3.25 Common and medium I.oo® 2.00 Other Livestock ißy United Press ( CHICAGO May 23—Hogs—Receipts. 34 000. including 15.000 directs; market, slow, mostly 10c lower; 190-290 lbs.. 53.50 ®3.60: top. *3.65: 300-350 lbs. 53.40'./3.55; 140-180 lbs. s3'./ 3.50: pigs. *2.25 off; packing sows. *2.75'./2 90; light lights. 140-160 lbs. good and choice. *2.90'./3.40; light weight. 160-200 lbs., good and choice. *3.25 4/3.60: med’aUim weights, 200-250 lbs., good and choice. *lso® 3.65; heavy weights. 250-350 lbs., good and choice. *3.40'./ 3.65 packing sows. 275-550 lbs., medium and choice. *2.504/ 3.15: slaughter pigs. 100-130 lbs., good and choice. *2'./2.90. Cattle—Receipts. 12.000: calves, receipts. 2 300: medium weight and weighty steers, fully steady, active; many loads. *8.25"/9; few loads. *9.40. these scaling 1.500 lbs., strictly choice offerings held at $9.50: bulk run. however, light steers and yearlings. undertone weak to 25c lower on light steers and mostly 25c off on light heifers ■’nd mixed yearlings; cows dull and weak: no many light cattle in run: slaughter cattle and vealers: steers 550-900 lbs., good and choice. *5 75'./8. 900-1.100 lbs., good and choice. *6"/8.50: 1 1001.300 lbs., good and choice. *6 50"/9.50: 1.300-1.500 lbs . good and choice. $7,254/9.50: 550-1 300 lbs common and medium. *4'./7 heifers. 550-750 lbs., good and choice. *5 25"; 6.50: common and medium. *3.25"/5 25: cows good. *4*;s: common and medium. *2.60"/ 4 low cutter and cutter. *1.50<.r 2.60: bulls, yearlings excluded, good beef. S3"; .3 50: cu'tcr. common and medium. *2.25"; 3.15: naiers. good and choice. *5 50"; 6 50: medium $4*15.50: cull and common. *3 4: Mocker and feeder cattle: steers. 550-1.050 lbs. good and choice. *4.75"/6: common and medium. $3.25® 5 Sheep—Receipts. 6 000 lamb trade generally active, strong 'o 25c higher; springers. *10.50"/11.25- bulk recently shorn lambs. *9: shorn ewes. *1 50 •< 3: slaughter sheep and lambs: spring lambs, good and choice. $10"/11 25; medium. $9.25® 10.15; lambs. 90 lbs. down, good and choice. *8 65 /9: common and medium. $7"; 8.75; 90-98 lbs. good and choice. *8 60"/9: ew es 90-150 lbs., good and choice $3.25®3.25. ail weights, common and med urn *1 50®2 75 FT WAYNE. Mav 23 Hogs—Steady to 5 cents lower: 250-300 lbs. $3.50; 200-250 lbs *3 45: 160-200 lbs . $3.35 : 300-350 lbs . 53 15 150-160 lbs *2 90: 140-150 lbs.. *2.65 130-140 lbs.. *2 40: 120-130 lbs , *2 05: 100-120 lbs . *1 90. roughs. *2.50: stags *1 25. Calves. *6: lambs. *9.50. LAFAYETTE. Mav 23 -Hoe—Market steady: 200-300 lbs.. 53.40: 160-200 lbs S3 25 3 30; 140-160 lbs . S2 75®3. 120-140 lbs. *2 25® 2.50; 100-120 lbs. *175®2 roughs. *2 75 down; top calves. *5; top cahes. *8 50; spring lambs. *8 ■; 9. ißv Times Special) LOUISVILLE. Mav 23—Cattle—Receipts. 125 demand fairly broad; market model..telv active; fully steady; bulk common to medium grassy steers and heifers. $4.25 *25. better finished' dryfed vearhnes quotable to *6 50. bulk beef cows S3® 3 75. good kinds to *4 and above: low cutters and cutter cows. *1.50® 2.75: sausage bulls mostly $3.25 down: few better heavy kinds to *3 50 bulk desirable light Hereford and shorthorn Stockers. *4 50"/ 5: common to medium grade natives. 52.75® 375 Calves—Receipts. 350: steady bulk better vealers. *4 50*/5: strictly choice $5 50. medium and lower grades *4 down Hogs —Receipts. 1.700: including . 150 direct: market not established: most bids 10 ' 20c lower: top and bulk desirable. 185-275-lb weights vesterdav *3 75. Sheep— Receipts. 1 500; indications about steadv on lambs: bulk better trucked in ewe and wether springers vesterdav. *lO 50; most choice long haul, over night and rail lambs *lO ,5® li; clipped lambs quotable mostly *6® 7: fat clipped ewes. $2 u3.

FORD BUTHNG_ RADIOS Philco Company Supplying Firm With 1.00(1 Units Daily. By Ttmti Special PHILADELPHIA. Pa.. May 23. Announcement by the Philco Radio Company this week reveals that the firm is supplying the Ford Motor Car Company with approximately 1,000 radios a day. Shipments dur- ; ing tire last two weeks have aver- : aged between 5.000 and 6.000 units. The Philco company said the model being used by the Ford Company la similar to that which the firm supplies other leading automo.'nani fact urers.

Silver Program Involves Important Changes in Backing of U. S. Dollar

Administration's New Metal Bill, Now Before Congress, Is Not Expected to Affect Average Working Man’s Pocketbook. BY RICHARD L. GRIDLEY United Press Financial Correspondent WASHINGTON, May 23—For the time being the administration silver program is not expected to affect the average mans pocketbook, his silverware or his economic status. The silver program now before congress does, however, vest important new monetary powers in President Roosevelt which could lead to further action toward world business recovery.

Behind the scenes the measure j involves important changes in the j metallic backing of the Amer.can : dollar. The country’s silver money reserves, now little more than one- j tenth of the huge $7,757,000,000 gold 1 reserves, will be increased gradually until they amount to 25 per cent of the metallic monetary reserves. This would mean secret purchase through the $2,000,00.000 stabiliza- j tion fund of enough silver or 1.310.- ! 000.000 ounces on the present basis ! to bring the reserves to the desired percentage. Ultimate effects of this program on the business situation and the recovery program were in doubt today. Even Wall Street speculators were unwiling to bank on its possibilities. As far as the average citizen is concerned he will still use about the same number of silver dollars, "gold” dollars and minor coins in every day transactions. In fact he is not likely to feel any effects of the silver program unless speculators bid up silver prices and make it necessary for the government to "nationalize” silver as done when the gold resources w'ere cornered. Treasury officials doubted that new silver dollars would go into circulation. Under the new silver bill the treasury is to issue silver certificates at its discretion against all silver bought. These probably would flow' back into the banks without remaining in active circulation. Herman Oliphant, treasury gen-

Motor Company Reports 50 Per Cent Sales Gain

Foreign Plants of Hudson Running at Capacity, President Says.* By Times Special CHICAGO, May 23.—An increase in both sales and production of the Hudson Motor Car Company, which started in February after settlement of labor disputes, continued throughout the first quarter, Roy D. Chapin, president, announced at an annual meeting early this week. Present sales of the Terraplane and Hudson models are now running approximately 50 per cent ahead of last year’s sales, Mr. Chapin stated. Production of both cars up to May 13 totaled 54,110 as compared with 13.278 in the corresponding period of last year. Sales of Hudson cars, due to its introduction into the low priced field, have advanced rapidly and now equal one-third of the total output of the company. Foreign business of the company has continued on a large and profitable scale and the Canadian and British plants, where products are assembled, are now operating at full capacity, it was revealed. Sales of commercial cars have reached the highest point since the company was established. The dealer organization after being completely reorganized during the past year is now about 50 per cent greater than a year ago, Mr. Chapin said. Combined salaries of officers are only about one-third of those paid at the peak, and the total of such salaries amount to only one-fourth of 1 per cent of the current sales volume, it was reported.

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; voung 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 254126 c: butterfat. 20c.— Quoted bv Wadlev (By United Press) CHICAGO. May 23.—Eggs—Market, easy: receipts, 29.558 eases; extra firsts. 15%c: fresh graded firsts. 14%®15c: current receipts. 13®13%-c: dirties No. 1. 12%c: No. 2. 11 %c: checks No 1. 12%c: No. 2. ll%c. Butter—Market, unsettled: receipts. 15.292 tubs: extra firsts. 90-91 %• srore. 22'.."/23c: firsts. 88-89% score. 22®22%c: seconds. 86-87%- score. 21c: extras. 92 score. 23%c: specials 23%®24%c: standards. 23%: centralized. 89 score. 22%c: centralized. 88 score. 22c. Poultry—Market, easv: receipts. 41 trucks; hens. light. 12%-c: heavy. 12%-c; old roosters. 7c: geese. 6c; broilers, light Leghorn. 17c: turkeys. 18c; Leghorns. 10%c: capons, unquoted; barebacks. 16® 18'-c ducks. 9c. Cheese—Twins. 13® 13%c: Longhorns. 13%"/ 13%e: daisies. 13 ®l3%c Potatoes iold stock) —Supply moderate: demand and trading slow: market dull: Idaho Russets 2 cars SI 25 5 cars. *1 30: 3 cars. *1.32%: 2 cars *1 35: Colorado McClures. 1 car. *1,60: Minnesota Cobblers. 1 car. si; Michigan Russet Rurals. 1 cars. *1 20 New stock, supply heavy; demand and trading moderate, market, weak: Alabama Triumphs. 1 car *1 50; showing decay. 2 cars. *1 25; 2 cars. 51.35: U. S No. 2. i car. 97%c: Irish Cobblers. 1 car. *1 55; Louisiana Triumphs. 2 cars. *1 40: 4 cars. SI 45: 9 cars. 51.50; 1 car. *1 55; 1 car. *1.60: showing decav. 1 car. *125 2 cars. *135 Shipments. 922: arrivals. 121; on track. 346. NEW YORK May 23 —Potatoes— Weak: Long Island. $1.85 ••1.90 bbl.; Southern $2*t4.75 bbl. Maine. S1 i2.50 bbl.: Idaho 51.65 sack: Bermuda. *6 bbl. Sweet potatoes—Quiet: Jersev. basket. 66ci*2 15: Southern, basket. 75c o *l6O Flour—Quiet springs, patents. 56.90®715 bbl Pork— Outet mess. *2O 25 bbl Lard—Dull: middle west. spot. *4.151/4.25 per 100 lbs Dressed poultry—Steadv: turkevs 12®27cchickens. B*/28c: broilers. 15® 24c: capons. 21 .34c: fowls. 12"/ 18c. ducks. 10® 13c: Long Island. 14% •/15c. Live poultrv Dull: geese. 6®7c: turkevs. 10® 17c: roosters. 9c: ducks. S® 12c: fowls. 13® 16c chickens, 9c: capons. 22c: broilers. 15"/ 24c. Cheese —Firm: state whole milk fancy to specials. 18® 19c: voung America. 14.14%c. Butter—Receipts. 17.406 pkgs.: market, easier: cents per pound, creamery, higher than extras. 24%®25%c: extra. 92 score. 24'.®: first. 90 to 91 score 23%'®24c: first. 88 to 89 score. 22%®23%c: seconds. 21%®22%c centralized. 90 score. 23%c: centralized. 88 to 89 score 22- "/ 23%c. centralized 84 to 87 score. 21%® 22%c. Eggs—Receipts. 45.211 cases; market weak: special packs. including unusual hennerv selections. 18£ 20c: standards. 17% 17%-c: firsts 15%c: seconds. 15c: mediums. !4%|/14%c; dirties. 14%c: checks. 14c: storage packs. 174i17%c. CLEVELAND. Mav 23.—Blitter—Market steady: extra. 27%e: standards. 27 %c. Eggs—Market steadv: extra white. 14c; current receipts. 13%c. Poultrv—Market steady; colored fowl. 6 lbs and up. 14c: colored fowl, medium. 15c: Leghorn fowl. 3%- lbs and up. 13c: Leghorn fowl light. I 12c: broilers, colored, ordinary. 23® 24c 1 old roosters. 9c: ducks, white. 5 lbs., and up. 14® 15c Potatoes—California. *2 85-- i 3 per 100 lb sacks: Maine. *l4o® 150 per 100 lb sacks: Ohio. *1 35 /1 40 per 100 lb. sacks

Proctor, Gamble Raises Prices Ky l imi t Special CINCINNATI. 0.. May 23—A price advance .on the average of 5 per cent on all its products was announced here this week by the Proctor A Gamble pompany. *

eral counsel, who aided in the drafting of the new silver legislation, said the program makes no change in the monetary system of the United States, described by Secretary of Treasury Morgenthau as a "1934 model gold standard.” In no sense, he said, is it a bimetallic monetary standard. In the final analysis the bill merely provides for an increased silver reserve behind the nation’s currency. The long range possibilities of the legislation, however, are regarded as important. President Roosevelt in urging the legislation suggested a broadening of the metallic basis of the currency presumably as a step to arrive at a yet undefined currency system which would involve the stabilization of “the purchasing and debt paying power of our money on a more equitable level.” The new' program gives the United States still another bargaining point when the time comes for leading nations of the world to negotiate an international monetary agreement. Such an agreement, according to economists, would go far toward solving economic problems of the world. With the largest stock of gold in the world and an ambitious silver buying program, it is believed the United States could largely dictate the basis for an international monetary stabilization plan. This should benefit this country.

U. S. FILES SUIT AGAINST DUPONT Government Claims Firm Owes $6,688,945.20 in Alcohol Taxes. By Vnited Press NEW YORK, May 23.—E. I. Du Pont De Nemours & Cos., was named defendant today in a $6,688,945.20 suit filed by the United States government in federal court. The government alleges the Du Pont company owes it that amount in taxes due on industrial alcohol converted and recovered for beverage purposes. The action charges that the Syrup Products Company, Inc., now in receivership, had a permit to withdraw industrial alcohol for manufacturing purposes between Dec. 1, 1928, and Jan. 15, 1930; that the company, with the R. & H. Chemical Company (acquired in 1930 by the defendants), withdrew large quantities of alcohol for use in the manufacture of a lacquer thinner. The thinner, according to the complaint, was sold to pther companies for the recovery of the alcohol, and the spirits was used for beverage purposes. The government contends it was entitled to a tax of $6.40 per gallon on approximately 1.045,000 proof gallons thus converted. The action was filed against the Du Pont group because of its ownership of all assets in the R. & H. Company.

INSURANCE BUSINESS UP 25 PER CENT IN STATE John Hancock Company Sales Force Led By W. B. Lichtenstein. An increase of approximately 25 per cent in new business during the last year was reported today by Dan W. Flickinger. general agent for the John Hancock Mutual Life Insurance Company in Indiana. Mr. Flickinger also announced that Walter B. Lichtenstein is leading the Indiana sales force for the first five months of this year. Mr. Lichtenstein will be principal speaker at a regional meeting today in Ft. Wayne, in recognition of John W. Jay. Fortville, and Nicholas Harper. Madison, sales representatives of the company more than thirty years. A special drive will be held during June in honor of the two veterans. In addition to leading the agency, Mr. Lichtenstein was the first man to qualify for the company's field club's trip to the home office at Boston. Mass., in September. NET INCOME REPORTED Cherry-Burrell Second Quarter Earnings Total 5165.045. By I utn s Special CHICAGO. May 23.—Cherrv-Bur-reli Corporation net income for the second quarter ended April 30 totaled $165,045 after all charges against $32,397 in the similar 1933 quarter, according to W. L. Cherry, president. Total income for the first six months of the current fiscal year amounted to $124,323. as compared with net loss of SI 17.941 for the corresponding period last year. Plumbing Permits C. W. •Burris, 1320 South Belmont; two fixtures. George Conrad. 820 East Georgia: three fixtures. A. J. Schmidt. 5224 East North: two fixtures. Mason-Schenck. 1102 Newman: lour fixtures. Bremer Bros.. 3030 English: five fixtures. D H. Pierce. 6021 Forrest lane; six fixtures. H McCann. North Sherman drive and Thirtieth street: two fixtures. Joe Canning. 437 Blake: one fixture. E F. Courtney. 247 Iowa: two fixtures. Pays S3 n Preferred Stock Up Times Special CHICAGO. Mav 23.—Directors of McFadden Publications, Inc., declare a dividend of $3 a share on the preferred stoefc the first payma&t since JanuaA 1932.

THE INDIANAPOLIS TIMES

FUTURE PRICES MOVE DOWN IN NERVOUSTRADE Heavy Rains Are Predicted Over Grain Belt in Next Few Days. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, May 23.—The grain trade continued nervous over the weather situation at the opening of the Chicago Board of Trade today and prices eased. Wheat opened V* to 6 cent lower, corn and oats were U to *s cent off, and rye was off % cent. Dry weather reports continued to come from the northwest and no heavy rains were predicted over the entire grain belt for the next few days, although scattered showers are expected. The trade was disappointed that the President’s silver message did not contain the expected inflationary items. Liverpool wheat opened firm. Chicago Futures Range —May 23Wheat — Frev. High. Low. 10:00 close. Mav 89® .89% .89** .89% Julv 88’ 2 .87% .88 1 a .88 1 2 Sept. 89% .83% .88% .89% Corn— Mav 48% .48% .48% .49% Julv 51% .51 .51% .51 % Sept, 52% .52% .52% .52% Oats— Mav 343, .34% .34% 34a, July 35% ,35% .35% .35% Sept .36% .35% .36% .36% Rye— Mav 55% 54% .55% .55% July 56% .56% .56% .57 Sept 58% .58% .58% .59 Barley— May 42% .42 .42 42% Julv . .. .44% Sept .. .46 .45 .45 .46 CHICAGO PRIMARY RECEIPTS May 22 —Bushels— Today. Last week. Wheat 548,000 655,000 Corn 347,000 173,000 Oats 289,000 390,000

Cash Grain

INDIANAPOLIS —May 22 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—Steady; No. 1 red, 81%@83%c; No. 2 red. 80%®82%c; No. 2 hard. 80%@ 82'L’C. CORN—Steady: No. 2 white. 48@50c; No. 3 white. 47%<®49c; No. 2 yellow. 45% ®47%c: No. 3 yellow. 44%@46%c; No. 2 mixed. 44%@46%c; No. 3 mixed. 43%@ 45%c. OATS—Steadv; No. 2 white, 32%@33%c; No. 3 white, 31%@32%c. —lnspections WHEAT—No. 2 red. 2 cars; No. 3 red 1 car. Total. 3 cars. CORN—No. 2 white. 1 car; No. 3 white. 1 car; No. 2 yellow. 3 cars; No. 3 yellow. 5 cars. Total, 10 cars. OATS—No. 2 white, 1 car; No. 3 white. 2 cars; No. 4 white. 1 car. Total. 4 cars Local Wagon Wheat City grain elevators are paying 78 cents tor No. 2 soft red wneat. Otner grades on their merits. )Bv United Press) CHICAGO. Mav 22—Cash grain: Wheat —No. 2 hard, 91 %c. Corn —No. 2 yellow, old and new. 53c; No. 3 yellow, 52%@ 52%c: No. 2 white white. 57%c; No. 3 white 57c Oats—No. 2 white, 37c; No. 3 white. 36%@37c; No. 4 white. 35®35%c. Rye—No. 2,60 c. Barley—Boc; quotable, 45 @B2c. Timothy—s6.7s®7. Clover seed—[email protected]. Cash provisions: Lard, *6.15: loose. $5.65; leaf, $5.62; bellies. $8.50. TOLEDO. Mav 22—Grain close: (Grain in elevators. transit billing.) Wheat— No. 2 red. 91%@92%c. Corn—No. 2 yellow. 55%*/56'jc. Oats—No. 2 white. 40%®) 41 %c. Rye—No. 2. 62@63c. (Track prices. 28%c rate.) Wheat—No. 1 red, 87%®88c; No. 2 red, 86%®87%c. CornNo 2 yellow, 51% S 52c; No. 3 yellow, 50% ® 51c; No. 4 yellow. 49%@50c. Oats—No. 2 white. 37%®38%c; No. 3 white. 37®38c. Seed close: Clover—Cash. $8.25. Alsike— Cash. $8.50. ST. LOUIS. May 22.—Wheat—In fair demand, %®%c lower on red and %c lower on hard wheat; No. 2 red, 88c; No 3 red garlicky. 86%c; No. 4 red garlicky, 82%c; No. 2 hard, 88%c, nominal. Corn —ln slow demand, unchanged; No. 2 yellow, 53%@54c: No. 3 yellow. 53%c. Oats —ln slow demand. %c lower; No. 2 red. 37c.

SROSS DEPOSITS OF MEMBER BANKS RISE Ninety-One Leading Cities Show Huge Gains. By Times Special CHICAGO. May 23.—Expansion of gross deposits of member banks of the federal reserve system continued during the last week and reports from ninety-one leading cities, excepting New York showed large gains. A gain of $25,000,000 was reported by cities other than New York and Chicago. New York gross deposits dropped $28,000,000. but gained a similar amount here, leaving the total gain for the week at $25,000,000. Individual deposits gained $48,000.000. rising $17,000,000 here, $46.000.000 in other cities, and dropping i $15,000,000 in New York. Government loans sagged $14,000,000. Deposits of other banks with member firms rose $7,000,000. Commercial credit declined $4,000.000. rising $3,000,000 at both New York and here, but declining $lO.000.000 elsewhere. Total loans and investments dropped $40,000,000 and collateral loans slumped $49,000,000. NET LOSS IS REDUCED International Mercantile Marine Reports Gain in Business. By Times Special CHICAGO. May 23.—Net loss of $1,411,441 after all charges including depreciation is reported by the International Mercantile Marine Company and its American subsidiaries for 1933, comparing with $1,507,187 in 1932. The firm's business, according to P. A. S. Franklin, president, has improved greatly in the first four months of the current year, but little hope is seen for a profit this year. On Dec. 31 the company had a deficit of $17,509,418, according to the company’s balance sheet, as compared with a surplus of $212,762 in the previous year. Business Failures Decline By Times Special NEW YORK, May 23.—Business failures in the week ended May 17 totaled 212, as compared with 222 in the previous week and 429 in the corresponding 1933 week. Dun & Bradstreet reports. Scrap Steel Prices Drop By Times Special CHICAGO. May 23.—Heavy melting steel was quoted here at $10.25@ 11.00 a ton this week after a nip in price of 25 cents on each 2,000 pounds of scrap steel.

—New York Stocks —

—Mav 23 Prev. Oils— High. Low. 10:00. close. Amerada !?,• Atl Rig 24% 24% Barnsdall * • Consol Oil Corn of Del - Houston (new) 3% 3 a Houston (old) Indian Rfg * Mid Cont Pet .... ... • Jf% Ohio Oil 11% }}: Pet Corp , 11% Phillips Pet 17% 1‘; * Plymouth Oil % a Pure Oil 10% 10% Royal Dutch • Sbd Oil 32 Shell Un g% Skelley Oil - ,?% Soc Vac 15% 15% 15% 15% S O of Cal 32% S O of Kan 39 •• • SOOf N J 42% 42% 42% 42% Texas Corp 24 23% 24 23% Tidewater Assn 12% 12% Un Oil of Cal 16% 16% Steels— Am Roll Mills 17% Beth Steel 33% 33% Byers AM 20% Col Fuel & Iron 5 Cruc Steel 24Vi Inland Steel 39 Ludlum Steel 13% 14 McKeesport Tin. 86% 86% Mid Steel ... ... 13 Natl Steel 41% Otis Steel ........ ... 5% 5% Rep Iron & Steel .. ... ... 16% Rep Ir & Stl pfd .. ... ... 48 U S Pipe & Fdv . 22 Vi 22Vi U S Steel . 40% 40% 42% 40% U S Steel pfd 87 % Warren Bros 8% Youngstn S & T .. ... ... 18% Motors— Auburn 33% Chrysler 38% 38% Gen Motors 31% 32% Gen Motors pfd. .. 99% Graham Mot 2% 2% Hudson 13% Hupp 3% Mack Truck 25 Nash 16% 16% Packard 4% 4 4% 4 Reo ••• ... 3 V i Studebaker ... ... 5% Yellow Truck 4% Motor Access — Bendix ... 15 15 Bohn Alum .. . 54 Vi Borg Warner ... 22% 22 22 22% Briggs 16% 16% Eaton Mfg 16% 17 El Auto Lite 21 21% Houdaille (A) 4% 4% Mullins Mfg ... 11% Mullins Mfg pfd 37 Murray Body 7‘/a 7% Stew Warner . 7% Timken Roll 28Vi 28% Timken Det Axel ... 6% Mining— Alaska Jun ... 13% 19 Am Metals 23 Amer Smelt ... 39 38% 38% 39 Anaconda ... 14% 14% Cal & Hecla 4% 4% Cerro de Pasco. .. ... 34% 34% Dome Mines 37 Granby 9% Gt Nor Ore 12 Homestake Min ... 370 Howe Sound 49Vi 49% Ins Copper 41 Int Nickel 26 Vi 26% Isl Creek Coal 25% Kennecott Cop . 19V4 19% 19Vi 19% Mclntyre Mine . . . 44 Noranda Cop .. 43% 43% 43Vi 43% Park Utah 4% 4Vi Phelps Dodge 16% St. Joe Lead 19 19 U S Smelters ...115% 115 115 116 .Vanadium 19% Amusements— Croslev Radio .... ... ... 12% Loews Inc 30% Radio Corp 7Vi 7% RKO 2% Warner Bros 2% Tobaccos— Am Tobocca ‘A’ 68% Am Tobacco B’ 70 % Gen Cigars . 38 Ligg & Myers 'B' 93% Lorillard 17 16% Reynolds Tob B’ .. ... 43 Vi 43 Vi Rails— Atchison 53 Vi Atl Coast Lines 41 Vi B & O 23 23% Can Pac 15% Ch & Ohio 45% 45 Chi & Gt W pfd 7% 8 C M & St P 5Vi CM & St P pfd 7% Chi N W 9Vi Chi N W pfd 17% Dela & Hud 51 Del Lac & W 21% 22 Erie ... ... 18% Erie pfd . • • 23 Vi Grt North’n psi 20% 20% 20Va 20% 111 Central ... . • 24Vi Lehigh Valley 14% 15 Lou & Nash ••• 53Vi MK& T 9 M K & T pfd 23% Mo Pac ••• 4% Mo Pac pfd BVi N Y Cent 27% 27% N Y Chi & St L 17% NY C & St L pfd . • • ... 34% N Y New Havn 14% 14% 14% 15% N Y Ont & West 7% Nor Pac 25 25 Penn R R , 30% 30% Sou Pac 21 Vi 21V* 21% 21% Sou R R 23% 23% Sou R R pfd •••, 31 Vi Union Pac 121 % 122 West Maryland 11% Equipments— Allis Chalmers- 16 Am Brake Shoe 26% Am Car & Fdy 21% Am Loco 24% Am Mach & Fdy 15 Am Steel Fdy 16% Bold Loco ••• 10% 10% Bald Loco pfd 46% Case J I 48% Cater Tract 28 % Deere & Cos 20 Foster Wheeler 15% Gen Am Tk Car , 36 Gen Elec 19% 19% Ingsol Rand 54 Int Bus Mach 137 Int Harvester 32% Natl Cash Reg 16 Pullman Inc 49 49% Rem Rand 9% 9% West Air B 28% Westingh Elec 31% 32% Worthington Pm 20% Utilities— Am & For Pwr . 71* 7% 7% 8 Am Power & Lit >% 7 AT&T 115V* 115'/* Am Wat Wks 18 Brook Un Gas . . - 63 Vi Col Gas & Elec. 12% 12% 12% 13 Col G & E pfd 73 Com & Sou 2Vs 2% Consol Gas ... 33% 33 Elec Pwr & Lit 5% 5% E P & L pfd 13% Int Hydro Elec 6% Int TANARUS& T 12 Vi 12% Lou O&EA ... .. ... •• 17 Nat Pwr & Lit 9% 9% North Amer 16% 16% Pac G & E 17 Peoples Gas 31 Postal Tel pfd... ... . 19% Pub Serv N J 35% 35 % So Cal Edison 16% Std Gas 10% 10% Std Gas pfd ... 11 Stone & Webster 7% United Corp 5Vs 5% Un Gas Imp ... 15% 15% Ut Pwr & Lit A 3 Western Union.. .. ... 42% 42% Rubbers— Firestone 18% Goodrich Goodyear ... 27% 27% Kelly Spring 2% U S Rubber 18% U S Rubber pfd 45 Miscellaneous— Am Bank Note 19 19% Am Can ... 92>/* 92% Anchor Cap ... . 20 Brklyn Man Tr 38% 38% 38% 39 Conti Can 74% 74 74 75 Crown Cork .... ... ... 26% Curtis Pub pfd 77% Eastman Kodak 93% Gillette 10% Glidden 24% 24% Inter Rapid Tr. 7% Owens Bottle 76% Raybestos Mfg 17% Foods— Am Sugar ... 53% Armour A 6% 6% Beatrice Cream 15% 15% Borden Prod ... 24% 24% Cal Pacing 30% 31 Can Dry G Ale 22Vs Coca Cola 123 % Corn Prod ... ... 65% Crm of Wheat 32 Cuban Am Sugar 7% 7% Gen Foods 32 31% 31% 32 Gold Dust 19V* 19Vi G W Sugar 28 28V* Loose Wiles 39 Vi Natl Biscuit 33% 34 Natl D Prod 16% 17 Purity Bak . .. .. ... 13% 13% S Por Rico Sug 31 Std Brands ... 19% 19% 19% 19% Un Biscuit ... 25% 25% 25% 25% United Fruit ... ... ... 69 Retail Stores— Ass Dry Goods 12% Best & Cos 30 First Natl Stores 63Vi Gimbel Bros 4 Gr Un Tea 6 Hahn Dept Sts 5% 5Vi Jewel Tea ... 46 46 Kresge 58.... . 18% 17% Kroger Groc . 29% 29% 29 V a 29% Macy R H 39 38% Marshall Fields .. Mav Dept St - 37 Mont Ward 24V* 23% 23% 24% Natl Tea 13 Penny J. C. 58 Safeway St. • - ■ . • 47% Sears Roebuck . 41% 41% 41% 41% Woolworth 49 45% AviationAviation Corp 6% Curtiss Wright 3Vi 3% Curtiss Wright AlO 9% 10 10 Douglas Air 19% Nor Am Av 5 SDeerv Coro 8% 'United Aircraft. . 20% Wright Aero 53% 51 51 51 Chemicals Air Reduction 95% Allied Chem 13. Am Com Alcohol 34 33 Col Carbon 63% 64 % Com Solvents 21% 22% Dupont 83 82% Freeport Tex 39% Liquid Carb ... 27% Math Alkali 27V* Montosonta Ch 45% 45 Natl Dis inewi 24% 24% Schenelev Dist .. ... 26 25% Tex Gulf Sulpb .g ... 33% 33V*

AVERAGE STOCK PRICES FOR TUESDAY N>t Hijfh. Low. Close, change Thirty industrials 96.29 9.3.26 93.61 —2.15 Twenty rails 43.79 42.62 42.84 —.93 Twenty utilities 23.66 22.91 23. W) —.31 Forty bonds .... 94.12 -.04 Ten first rails .... 100.64 -.09 Ten second rails .... .... 81.77 —.03 Ten utilities .... 97.42 —.02 Ten industrials .... 96.66 -.14 -Off. +Up.

Union Carbide .. ... ... 18 U S Indus Alco .. ... ... 38% Virg Ch 6% pfd. 18% Drugs— Coty Inc 6 Lambert 25% Un Drug 15% Zonite Prod 5% 5 s * Financial— Adams Exp .... 7% 7% 7% 8 Ailgheny Corp 2% 2% Am Int Corp 8% 8% Chesa Corp 42% Lehman Corp 6 Transamerica 6 Tr Conti Corp 4% 4Vi Building— Am Radiator ... 13% 13% 13% 13% Gen Asphalt ... ... 18% Int Cement ... 24% John Manville 47 47% Libby Owens Gls 29% 30 Otis Elev 15% 15% Household— Col Pal Pet 13% 13% Congoieum ... . 25V* Kelvinator 16% 16% 16% 16% Mohawk Carpet .. ... Proc & Gamble. .. • 34% Simmons Bed 16% Textiles— Amer Woolen .... ... • 11% Belding Hem 12 12% Clanes Corp 24% 25% Collins Aikman 17 Gotham Hose 8 Indus Rayon 72% Kayser Julius 16% 16% New York Curb (By Abbott. Hoppin & Cos.) —May 22 Closei Close. Allied Mills . 7% Glen Alden Coal 15% Alum Cos of Am 65 Gulf Oil of Pa 60% Am Cyanide B 18V*iHiram Walker . 31 % Am Gas & El 22% Hud Bay Min . 13 Am Superpower 2%,Humble Oil .43 Atlas Corp . 10%imperial Oil Ltd 14% Brazil Tract & L lOilnt Petrol 26% Can Ind Ale 9 . ll%!Lake Shore M 49% Can Marc 2%.Libby McN Lib 5V* Carrier Corp .. 8 tLone Star Gas 6 Cities Serv .. . 2*4;Natl Av 3Vi Cons Gas of B 60%iNewmont Min.. 47 Cord Corp s%tNia Hud Pwr .. 5% Creole Petrol . 12 iNovadel Agene.. 20% Crown C Inti . 7%jPenn Road .... 2% Deere & Cos .. 20 ISt Regis Paper. 3% Distillers Lim. %iSherwin Wms .. 68 Distillers Corp . 15%|Std of Ind 26% Dow Shem ... 85%iStd of Ky .. .. 15% El Bond & Sh.. 14%|Technicolor Ind 10 Fisk Rubber ... 13%!Teck Hughes G 6% Ford of Can A- 21%|Un Gas 2% Ford of Europe 9 !>Un Pwr & Lt A 3 Gen Aviation 4%|Wright Harg M 9

On Commission Row —May 23 —F'ruits— Apples—Fancy Ben Davis, Indiana. $1.75; fancy Winesaps. *[email protected]. Cherries —California. 16-lb. lug. $2.50. * Oranges—California. Sunkist. s4® 4.50; Red Ball. [email protected]. Lemons—Sunkist. $6.75; Red Ball. $6.25. Grapes—South American, crate. $3. Grapefruit—Florida. Seedless, $3.75®4.25. Stawbeies—retaoin shrdlu cmfwy vbg Strawberries —Aromas, 24-qt. crate, $3 2a; Blakemires and Premiers, *2.50; Klondykes $2.25 Melons—Argentina Honeydews, $3. Cantaloupes Pony crate, [email protected]: (umbos, 455, $3.25; standards, s2@3. Pears—Calavos, $4 per box. Pineapples—Cuba, all sizes, crate. $3.25. Bananas—Per pound, c Raspberries. Cai.. 12; % pts.. $2.0. —Vegetables— Cabbage—Mississippi, 50-lb bag. $1.35. Florida red, $2.50 per hamper. Celery—Florida, $4.50 a crate, mammoth bunch. 90c; medium bunch. 60c hearts, dozen bunches, $1.25. Onions —Indiana yellow. 50-lb. bag, 75c. Potatoes—Northern round white, 100-lb bag, $1.65; Red River Ohios, $1.65; Maine Green Mountain, $2; Colorado McClures. *1.80; Idaho Russets. $1.80; Idaho Rusests, 100-lb. bag. $1.90; New Texas Triumphs. $2 10. Sweet Potatoes—Tennessee Nancy Halls. Asparagus—Home grown, dozen. 60c® $1.25 Beans—Round, stringless. sl@l 25. Beets—New, 65c a dozen. Carrots—California. 6-d3zen crate. $2.50; bulk, new, $1 60. , Cauliflower —California, $1.90. Lettuce —Hot house, 15-ylb. basket. sl.lO. Iceberg best $4.25 @5.75 a crate. Peas—2 B-lb. hamper. $3. Radishes—Home grown buttons, 300 a dozen. Rhubarb—Home grown, dozen. 30c. Spinach—Home grown, bushel, 65c. Tomatoes—Repacked. 10-lb. carton, $1.50; original Mexican, 30-lb. lub.. $3.50. CHICAGO FRUIT MARKET - (By United Press) CHICAGO, May 23.—Fruits and vegetables: Apples—Michigan Spies, $2 bushel. Carrots —Illinois. 65c bushel. Beans— Southern green and wax, [email protected] bushel hampers. Cucumbers—Central western hothouse, sl@2, 2 dozen. Tomatoes— Florida, [email protected] lugs. Sweet Potatoes— Tennessee, $1.85® 1.90 bushel hampers. Mushrooms—lllinois. 10®, 40c, pound cartons. Asparagus—lllinois, 25®30c, flat crates. Strawberries—lllinois. $1.75®2.50, 24 quarts. Onion market (50-lb. sacks) — Texas yellows, 65c®51.20; Texas whites, 65c@$l; California whites, $1.15. N. Y. Coffee, Sugar Futures COFF'EE —Mav 22 Santos High. Low. Close. March 11.45 11.42 11.45 Mav 10.73 Julv 11.88 11.82 11.87 September 11.26 11.21 11.24 December 11.34 11.31 11.34 Rio January ... 8.55 March ... 8.60 Mav 8.17 July 8.31 September 8.43 8.37 8.41 December 8.52 8.47 8.50 SUGAR —May 22High. Low. Close. January ... 1.68 March 1.73 Mav 1.53 1.52 1.52 September 1.59 1.58 1.59 December ... 1.67 In the Cotton Markets —May 22 CHICAGO High. Low. Close. January 11.83 11.75 11.75 March 11.95 11.85 11.85 Mav 11.35 Julv 1151 11.39 11.39 October 11.73 11.53 11.59 December 11.84 11.67 11.71 NEW YORK January 11.82 11.68 11.71 March 11.94 11.78 11.81 Mav 11.37 11.21 11.27 July 11.49 11.31 11.35 October 11.67 11.50 11.54 December 11.80 11.63 11.66 NEW ORLEANS January 11.76 11.69 11.71 March 11.88 11.71 11.81 Mav 11.39 11.25 11.30 July 11.46 11.29 11.35 October 11.65 11.45 11.53 December 11.77 11.59 11.66 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 £.75 Coke, egg size 8.75 Indiana forked lump [email protected] 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. SUGAR CONSUMPTION UP European Countries Use 4.K7.845 Tons in Seven Months. By Times Special NEW YORK, May 23.—Sugar consumtpion in principal European countries during the first seven months of the current crop year totaled 4.147,845 lone tons against 4.045,394 long tons during the corresponding period a year ago. Lamborn & Cos., sugar dealers reports. Shipments of raw sugar to the United States from Porto Rico during the first four and one-half months of this year totaled 406.367 short tons against 369.571 last year, according to the New York Coffee and Sugar Exchange. Refined shipments duimg the period amounted to 53,328 tons against 32,301 in 1933.

Chicago Stocks By Abbott Hoppin & Cos. ———

—Mav 23 High. Low. 11:30. Asbestos Mfg ... 2% 2 ■ 2% Borg-Warner 22 21 3 . 22 Butler Bros 9 8% 9 Chicago Corp Com 2% 2% 2% Chicago Corp pfd 26 Commonwealth Edison 51 Cord Corp .. 5 Crane Cos. . 9% 9% 9% Great Lakes Dredge .. . 18 Gen Household Util .. 13% 13 13 Libby-McNeil . 5% Lynch Corp 32% 32 32% Marshall Field 14% Middle West Utilities % Prima Cos 8 Quaker Oats 108% Swift &Cos 15% 15 15% Swift Internacional .. 30% 29% 29% Thompson JR 7% Zenite Radio 2%

Bond Prices By Fenner & Beane

—May 23 . High. Low-. Close. Alleg Corp 5s j 0 39 Am&For Pwr 5s 2030 . 54% 54 54 AT&T db 5s ’65 ...108% 108 108 Atchison gen 4s '95...101% 101% 101% B&O CV 4%S '6O .... 65 64 64 Beth Steel 5s A ’76 102% Can Pac 4s '57 .. . 81 ChMStP&P ad 5s A 2000 13% 13% 13% ChMStP&P rs 5s A '75 44% 43% 43% Cons Gas NY 4%s ’sl 104 Denmark 5%s ’55 ... 90% Erie RR rs 5s ’67 ... 72% 71% 71V, French 7s ’49 185 Goodyear 5s '57 99% 99% 99% Gt Nor 7s A '36 . . . 96 95% 95% Interboro RT ssc '66 . 68% 68% 68% Int T&T db 5s '55 63 McKess & Robb 5%s 'SO 80% Nat Dairy db 5%s 48 . 94% 94% 94% NY Cent 4%s O 2013 .. 75 74% 74% Nor Am 5s '6l ... 88% PacGas&El 5s A '42.. .. ... 106% Para Pub 5%s 'SO 49% Penn RR 4>as D 'Bl 96% Poland 7s '47 110 Shell Un Oil 5s '47 98% Texas Corp 5s '44 102% Tob Pr NJ 5%s 2022 104% Un Pac Ist 4s '47 .105% 105% 105V* US Rubber 5s A '47.. 85V* 85 85 Ygstwn S&T 5s B ’7O 83% U. S. GOVERNMENT BONDS (By United Press) NEW YORK. May 22. (Decimals represent thirty-seconds.) Liberty 3%s (32-47) 103.25 First 4%s (32-47) 103.26 Fourth 4Vis (33-38) 103.30 Treasury 4%s —3 Vis (45) 102.27 4%s (47-52) 111.25 3%S (43-47 103.16 3%s (41-43) March 103.24 3%s (40-43) June 103.28 3V4 S (41) 103.22 3%S (46-49) 101.20 3s (51-55) 100.21 FEDERAL FARM LOAN BONDS —May 22 (By Blyth & Cos., Inc.) Bid Ask 4s Nov 1, 1957-37 100% 101 4s May 1, 1958-38 100% 101 4%S July 1. 1956-36 100% 101 4Vis Jan. 1, 1957-37 100% 101 % 4 Vis May 1. 1957-37 100% 101V* 4Vis Nov. 1, 1958-38 101% 4%s May 1. 1942-32 100% 101 Vi 4 Vis Jan. 1. 1934-33 100% 101V* 4%s Jan. 1. 1953-33 100% 101 4Vis July 1. 1953-33 100% 101 4%s Jan. 1. 1955-35 100% 101% 4Vis Jan. 1. 1956-36 101 Vi 4%s Julv 1, 1954-34 100% 101 Vi 4%s Jan. 1. 1954-34 100% 101% 4%s July 1, 1954-34 100% 101% 5s Mav 1. 1941-31 101% 102% 5s NOV. 1. 1941-31 101% 102 >4 Home Loan 4s July 1. 1951 100.22 100.26 Federal Farm Mortgage Corporation 3Vis March 15. 1964-44 101.14 101.20 The two later quotes are in thirty seconds.

Bright Spots ~(By Abbott. HopplD & Cos.) “

Timken Roller Bearing Company has received an order from the Chicago, Milwaukee & St. Paul for barings and boxes for 50 de luxe passenger coaches. Amrican Power and Light Company and subsidiaries for twelve months ending Feb. 28 report a net income of *3,624,442 after all charges, equal to $2.04 a share. Adams Express Company declares regular quarterly dividend of $1.25 on preferred stock. Murray Corporation of America and subsidiaries report for quarter ended March 31, a net profit of $228,610 after taxes. First National Stores declare regular quarterly dividend of 62% cents on common stock payable July 2 to stockholders of record June 9. International Business Machine Corporation declares regular dividend of $1.50. Regular dividend of 25 cents a share was declared bv Standard Brands. Wabash Railway announce that ear loadings in the week ended My 10, were 12.3 per cent against 5.3 per cent for previous week. Commonwealth and Southern Corporation for twelve months ended April 30. earned about 1 cent a share as compared to 2 cents a share for the previous twelve months.

Births Boys Floyd and Lucille Miller, 410 North Exeter. Hollia and iVola Mershon, 1027 North Tibbs. Clarence and Irene Mathews, 425 North Haugh. Adolph and Jennie Stanfield. 764 North Warman. Richard and Ruth Richards, St. Vincent’s hospital. John and Mary Smithmeyer, St. Vincent’s hospital. William and Helen Lyons. St. Vincent’s hospital. Theodore and Anna Watson. St. Vincent’s hospital. William and Margaret Boles. St. Vincent’s hospital. George and Edna Williams, Fifty-sixth and Erie railroad. Raymona and Helen ORear, 3522 West Michigan. John and Ressie Welsh. 1903 Lexington. Leo and Dorothy Reason. 1332 North Capitol. Claude and Mary Smith. 1306 Fletcher. Jesse and Irene Minton, 788 West Twenty-fifth. Rowland and Rowena Schad. 443 North Colorado. Ray and Luella Osting, 501 South Harris. Tom and Minnie Williams. 1626 North Minocqua. Jordan and Anna Crawford. 1510 Laurel. Leon and Dorothy Pettis. 2423 Caroline. Chelcia and Frieda Bemis. 602 Beecher. Ernest and Gladys Thompson, city hospital. Marion and Edith Nowling. city hospital. Earl and Bessie Embry, city hospital. John and Elsie Aikman, city hospital. Girls— Leonard and Margaret Bates, St. Vincent’s hospital. John and Theresa Perry. 1626 Holliday. Herman and Thelma Skelton, 208 South Summitt. Robert and Elizabeth Gilliam. 443 West Sixteenth place. Arthur and Emma Carter. 308 West Smith. Gerald and Edna Myers, 3345 East Michigan. Lawrence and Dorothy Roe. 407 South Alabama. Alva and Anna Wyant, 25 Bloomington. Orvie and Mvrtle Bart, city hospital Kermit and Elizabeth McKay, city hospital. 1 Homer and Roxie Wire, citv hospital. Walter and Lourvania Martin, citv hospital. Deaths George Hofmann, 65, 101 West Arizona chronjc nephritic Edward DaufeT, 45, St. Vincent s hospital, carcinoma. Ida Bell E.-ephard, 69 801 Arbor, carcinoma. David Bowman, 5 months, Riley hospital pneumonia. Laura A Smith, 75. 1830 Arrow, chronic myocarditis. Leo Schultz, 50. city hospital, chronic nephritis. Rebecca Jane Johnson, 87. Methodist hospital, carcinoma. Mary Lucy Sutton. 81. 16 North Bosart, chronic myocarditis. Elizabeth McCleary. 75. 136 North East, chronic myocarditis. John W Walls, 64. 1302 North Warman. carcinoma. Darville Baxter. 5 months. Methodist hospital, congenital heart disease. Ivan Kenneth DeMoss. 15. Methodist hospital. fractured skull Elmer B. Winsted. 59. Methodist hospital. otitis media. Will Tolbert. 53. 1927 Highland Place, coronary thrombosis. Sarah N. Phiilipi. 52. 6421 Parker, lobar pneumonia. Elndge Kimbrough. 3 months, 1909 Columbia. lobar pneumonia.

PAGE 15

STOCK VALUES WEAKEN:SALES LIGHT U. S. Steel Breaks to New Low for Year; News Is Bearish. RV ELMER C. WALZER l nited Press Financial Editor NEW YORK. May 23.—Initial prices on the New York Stocic Exchange today were down fractions to more than a point with volume light. Cotton dipped 1 to 5 points, and silver futures continued to decline. Bonds were dull and irregular. United States Steel common stock broke to anew low for the vear at 39%, off 1% points from the previous close and off 20% points from the year’s high. Johns Manville opened at 47, off %; American Telephone 115%, unchanged; Westinghouse Electric 31%, off •%>; New Haven 14%, off •“%, and United States Smelting 115%, off %. Small declines were noted in Western Union, Radio, Ame-rican Can, Bethlehem Steel, General Motors, Public Service of New Jersey, Alaska Juneau, Woolworth. and Montgomery Ward. A few stocks moved up. including the recently weak American Commercial Alcohol, which rose a point to 34 o nthe first sale. American Smelting, Sears-Roebuck and Standard Oil of New Jersey were unchanged. During early trading the market went dead. Silver issues dipped after their sharp break yesterday. News from the steel industry was bearish. Iron Age reported production down 3 points at 58 per cent of capacity and noted strike fever pervading labor. Then, too, Scrap, “the most sensitive barometer of the steel trade,” has undergone further price declines in virtually all centers. Railroad news was more cheerful. Car loadings for the week ended last Saturday are expected to show a better than seasonal gain over the preceding week. Net operating income for the first eight railroads to report 'or April was 60.8 per cent above April, 1933. Electricity output for the week ended May 19 was 1.649,770,000 kilowatt hours, against 1,643.433,000 in the preceding week. Comparison with a year ago was not as good as the latter week, however, beir.£ up 11.2 per cent, against 11.9 p • cent higher the week before.

Money and Exchange INDIANAPOLIS BANK CLARINGS —May 23Clearings ... $1,862,000.00 Debits 4,572,000.00 FOREIGN EXCHANGE (By Abbott. Hoppin & Cos. —May 22Close. Sterling. England $5.10% Franc, France 0662% Lira. Italy 0853 Va Belgias. Belgium 2345 Mark. Germany 3955 Guilder, Holland 8810 Peseta. Spain .1373 Vi Krone, Norway 2569 Krone. Denmark 2283 Yen, Japan 3031 Treasury Statement ißy United Press) WASHINGTON, May 23.—Government expenses and receipts of the current fiscal year to May 21. compared with the corresponding period of the previous fiscal year: This Year Last Year. Expenses $2,266,790,111.37 $4,582,903,399.40 Receipts $2,673,989,414.55 $1,753,998,213.00 Deficit $3,592,800,696.82 $2,828,905,186.40 Cash Bal. $2,051,098,425.90 Investment Trust Shares (By Abbott. Hoppin & Cos.) —May 22 Bid. Ask. Amer Bank Stocks Corp 1.13 1.16 Amer & Gen Sec A 4.00 5.00 Amer & Inv Tr shares 1.75 Basic Industry shares 3.22 3.30 British Type Inv Tr sh 46 .52 Collateral Trustee shares A., i.oii 4.62 Corporate Trust shares (old).. 2.01 2.05 Corporate Trust shares (new). 2.23 2.26 Cumulative Trust shares ... 3.82 Diversified Trust shares A ... 6.25 . . Diversified Trust shares B ... 7.40 7.60 Diversified Trust shares C... 2.98 302 Diversified Trust shares D .. 4.55 4.65 First Insurance Stock Corp.. 1.21 1.26 First Comomn Stock Corp ... .79 .85 Fixed Trust Oil shares A .... 7.95 8.20 Fixed Trust Oil shares B ... 6.90 7.10 Incorporators Investments 17.09 18.37 Land Bank Bond shares .... 1.17 1.30 Low Priced Trust shares.... 5.90 6.05 Mass Inv Trust shares 18.34 19.33 Nation Wide Securities 3.22 3.30 North Am Trust shares (53) . 1.81 North Am Trust shares (55-56) 2.27 2.30 North Am Trust shares (58). - 2.25 2.30 Selected American shares . . 2.42 Selected American shares Inc.. 1.10 1.19 Selected Cumulative shares . 6.24 Selected Income shares 3.25 3.75 Std American Trust shares A . 2.76 2.80 Trust Shares of America ... 2.55 2.65 Trustee Std Oil A .. . 5.48 5.62 Trustee Std Oil B 4.92 5.02 U S Electric Lt & P A 12.50 12.75 Universal Trust shares 2.87 2.94 New York Bank Stocks (Bv Abbott. Hoppin & Cos.) —Mav 22Bid. Ask. Bankers 62 62’,# Brooklyn Trust 11l 114 Central Hanover 128 129 Chase National 28 28’4 Chemical 40Va 41 National Citv 27’i 27% Corn Exchange 52 1 i 53 Continental 13’/2 14 Empire 19 Vi 20 First National 1,645 1.660 Guaranty 357 359 Irving 18 18 14 Manhattan & Cos 29% .30 Manufacturers 21 1 2 22 New York Trust 101 102 Public 32 33% Daily Price Index (Bv United Press) NEW YORK. Mav 22.—Dun fz Bradsi reet’s daily weighted price index of thirty basic commodities compiled for the United Press 1 (1930-1932 Average. 100) Today 109.33 Ysterday 109.5# Week ago 108 15 Month ago 105.59 Year ago (Mav 23) 88.39 1934 hieh 'March 12) 110.24 1924 Low 1 Jan. 3i 101 05 Copyright. 1934. by Dun & Bradstreet. nc. DIVIDEND DISTRIBUTIONS AMOUNT TO $4,390,217 First of Boston Corporation Net Earnings Total $8,366,036. By Times Special NEW YORK, May 23.—First of Boston Corporation of Massachusetts has made dividend distributions of $4,390,217 out of the total income of the company incorporation on June 27, 1932, to April 21 this year. The earnings during the period amounted to $8,366,036, derived from trading, commissions and other sources of income. A report of the company states that the firm ast well as other investment houses has been deprived of their normal income from financial underwritnigs since the securities act of 1933 became effective.

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