Indianapolis Times, Volume 46, Number 22, Indianapolis, Marion County, 6 June 1934 — Page 13

JUNE 6, 1934

Wall Street Stock Market Legislation Should Aid Brokers in Long Run. BY RALPH HENDERSHOT Times Special Financial Writer THE Stock Market regulation bill of 1934 has passed both houses of congress and is about to become a law by the signature of President Roosevelt. It brings to a close one of the hardest-fought battles ever waged in Washington by Wall Street and promises to make

most radical change in industrial financing this country ever has seen. It is still too early to determine accurately the probable results of the act. That it will effectively curb s p e c u lation in time and eventually lead to steady, uneventful markets, such as they probably the

Hendershot

have in England, is a strong probability. That it will seriously interfere with the industrial progress of this country and that it will prove harmful to brokers in the long run is doubftul American investors have been inclined to give too much thought to market profits and not enough to safety of principle. In other words, most of our investors have not been investors at all but speculators. Anything which will tend to do away -with wide price swings in the market will help to correct this situation for the betterment of all concerned, and the new market measure stands an excellent chance of doing just that. # * THE brokerage business in Wall Street always has been a fairweather business. In times such as 1928 and 1929 the brokers have waxed fat, but in times such as the last two or three years they have fed all of their profits back into the wheel of fortune. The net gain has been exceedingly small if spread over a period of years, and the attending headaches have been bothersome to say the least. The brokers themselves should welcome the opportunity to build a steady business on a sound foundation. From the standpoint of the country at large the change could not have been effected at a better time. The brokers are geared to handle but a small volume of business, and liquidation of securities is likely to be at a minimum. Stocks -which in 1928 were held in large amounts by speculators have passed since then largely into the hands of permanent investors. Underlying factors in the monetary situation may prevent the new market regulation measure from bearing its best fruit within the next few years, however. The groundwork has been laid for another and possibly more dangerous speculative movement in this country than we had in the last bull market unless extreme care is exercised in Washington. If it develops it may seem to prove the new measure to have been of little or no value. tt n WE have today an unusually broad base for credit expansion. This base has been provided by the revaluation of the dollar in terms of gold, and it will be enlarged still more if silver is used, as proposed, as a backing for currency. Easy credit invariably leads to business expansion, and the excessive use of credit constitutes speculation. We may build up another unwieldy debt structure if we are not careful, and if we do there is likely to be trouble again. Active business usually brings with it greater corporate profits, which, in turn, enhances the value of company shares. If the profits increase rapidly they invite speculation in the stock market. And people will speculate even though they are obliged to put up large

margins. N. Y. Coffee, Sugar Markets COFFEE —June 5 Santos High. Low. Close. March 11.42 May 11.50 July 10.85 10.80 10.85 September 11.25 11.21 11.22 December 11.41 11.30 11.34 Rio January 8.58 March 8.63 Mav 8.76 8.72 8.72 July 8.40 8.35 8 38 September 8.46 8.45 8.45 December 8.55 8.54 8.54 SUGAR ’ —June 5 High. Low. Close. January 1.71 1.69 1.69 March 1.76 1.74 1.74 Mav 1.81 1.78 1.78 July 1.55 1.53 1.53 September 1.61 1.58 1.59 December 1.70 1,68 1.69 In the Cotton Markets —.Tune 5 CHICAGO High. Low. Close. January 12.39 12.09 12.39 March 12.50 12.48 12.50 Mav 12.62 12.30 12.62 Julv 12.02 11.71 12.01 October 12.28 11.91 12.27 December 12.37 12.03 12.37 NEW YORK January 12.31 12.01 12.31 March 12.44 12.09 12.41 Mav 12.51 12.19 12.51 Julv 11.95 11.62 11.92 October 12.18 11.85 12.16 December 12.29 11.96 12.26 NEW ORLEANS January 12.28 March 12.39 12.11 12.39 Mav 12.50 12.45 12.48 Julv 11.92 11.61 11.90 October 12.15 11.81 12.12 December 12.27 11.92 12.24 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 6.25 Brazil mine run 5.00 Coke. nut. size 8.75 Coke, egg size 8.75 Indiana forked lump 5.50®5.75 Indiana egg 5.25®5.50 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 smokeless 8.25 West Virginia lump 6.75 West Virginia egg 6.50 Island Creek - 7.00 Extra charge of 50c a ton for wheeling toal. and $1 a ton for coal carried to bin. Sugar Consumption Declines ByT imes Special NEW YORK, June 6.—A total of 413,773 long tons of raw sugar was used in the United States during April, as compared with M 6.389 in the same month last year, B. W. Dyer, sugar brokers report. Consumption in the first four months this year was 1,707,716 tons against 1,790,032 tons last year in the same four months.

ISSUES DISPLAY FIRM TONE AS TRADIMGAINS Heavy Consumers’ Demand Boosts Steel Output to 60 Per Cent. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 6.— A slight pickup in opening activity was noted on the Stock Exchange today. Prices firmed fractions to more than a point. Bonds were steady. Silver strengthened. Bethlehem Steel rose 1!% to 33% on the first sale, while United States Steel firmed Vs to 40 Ts. Leading issues in other sections were fractionally higher with the exception of the silvers, yesterday’s favorites. These showed small declines. American Telephone opened at 116, up Chenley 27, up %; Du Pont 85 Vs, up %; Atchison 56%, up %, and Loew's 33%, up %. Trading quited after the opening with prices steady around the initial levels. The weekly report of the Iron Age was negatively favorable. Steel operations rose a point to 60 per cent of capacity because consumers were buying to stock up in event of a strike in the industry. Electricity output for the week ended June 2 was reduced materially by the Decoration day holiday. However, the percentage showing much more poorer as compared with a year ago at 7.8 per cent up, against a rise a week ago of 10.8 per cent. The trend was sharply higher at this time in 1933, hence the poorer comparison. Chain store sales thus far reported for May are up 14.6 per cent as compared with May, 1933. Other favorable items reported today included $3.06 a share earned by Schenley in the first quarter, and a gain of 44,000 telephones in May by the Bell system. Money and Exchange INDIANAPOLIS BANK CLEARINGS , —June 6 Clearings $1,987,000.00 Debits 4,399,000.00 FOREIGN EXCHANGE (By Abbott, Hoppin & Cos.) —June 5 _. ~ _ , , Close. Sterling. England*. ..$5.05 Franc. France 0659 Lira. Italy 0863 Belgias, Belgium 2337 Mark, Germany 3773 Guilder. Holland 6771 Peseta. Spain 1367 Krone. Norway 2533 Krone. Denmark 2254 Yen, Japan 2989 Treasury Statement (By United Press! WASHINGTON, June 6. —Government expenses and receipts of the current fiscal year to June 4, compared with the corresponding period of the previous fiscal year: This Year. Last Year. Expenses $6,437,482,322.29 $4,711,511 165.03 Receipts. $2,770,292,308.28 $1,812,348:834.12 Deficit $3,667,191,014.01 $2,899 162,330.91 Cash Bal. $2,003,305,657.39 Investment Trust Shares (By Abbott. Hoppin & Cos.) —June s—■ , _ . Bid. Ask. American Bank Stocks Corp.. 1.10 115 American & General Sec A... 4.00 sioo American & Inv Tr Sh 1.75 Basic Industry Shares 3. 20 3 26 British Type Inv Tr Sh 45 .50 Collateral Trustee Shares A.. 4.37 450 Corporate Trust Shares (old). 2.02 2.06 Corporate Trust Shares (new) 2.23 2.27 Cumulative Trust Shares 3.76 3.80 Diversified Trust Shares A 6.25 Diversified Trust Shares 8.... 7.20 740 Diversified Trust Shares C.... 2.93 2.96 Diversified Trust Shares D ... 4.44 460 First Insurance Stock Corp... 1.21 1.26 First Common Stock Corp 63 .68 Fixed Trust Oil Shares A 7.75 7.95 Fixed Trust Oil Shares B 6.70 6.95 Incorporators Investments ... 16.61 17.84 Land Bank Bond Shares 1.18 1.31 Low Priced Trust Shares 5.68 5.78 Mass Inv Trust Shares 17.97 19 53 Nation Wide Securities 3.16 3.22 North Am Trust Shares (53).. 1.81 1.85 North Am Tr Shares (55-56).. 2.25 2.29 North Am Trust Shares (58).. 2.20 2.25 Selected American Shares.... 2.42 Selected Am Shares Inc 1.10 1.19 Selected Cumulative Shares... 6.27 Selected Income Shares 3.26 3.75 Std Am Trust Shares A 2.77 2.80 Trust Shares of America 2.63 2.68 Trustee Std Oil A 5.48 5.68 Trustee Std Oil B 4.90 5.05 U S Elec Lt & Pwr A 12.25 12.50 Universal Trust Shares 2.08 2.18 New York Bank Stocks (By Abbott, Hoppin & Cos.) —June 5 „ , Bid. Ask. Bankers 62 62% Brooklyn Trust 112 115 Central Hanover 128 129 Chase National 28% 29 Chemical 40 49% National City 28% 2t% Corn Exchange 5144 52% Continental 13% 13% Empire 19 19% First National 1,650 1,665 Guaranty 364% 366% Irving 17% 17% Manhatten &Cos 29% 30 Manufacturers 21% 22% New York Trust 102% 103% Public 32% 34

Bright Spots " ■“ (Bv Abbott. Hoppin & Cos.)

Pere Marquette Railroad Companv car loadings in the week, ended June 2 totaled 8.961 cars against 9.898 cars in the previous week and 7,858 in the corresponding period a year ago. Electric Power and Light Company report for twelve months ended April 30 shows a net loss of $1,211,375 after all charges against a net income of $2,162.246 in the previous twelve months. Celanese Corporation declares the regular semi-annual dividend of $3.30 a share on the participating preferred stock and the regular Quarterly dividend of $1.75 a share on the prior preferred stock. American Woolen Company declares a dividend of $1.25 a share on the 7 per cent commulative preferred stock, payable July 16. of record June 30. Phillip Morris Companv declares the regular quarterly dividend of 43% cents a share on the class “A" stock, payable July 2. of record June 18. Electric Auto Lite Company has reopened its plant which has been closed since May 23. Waukesha Motor Company declares the regular quarterly dividend of 30 cents a share on the common stock, payable June 15, of record June 15. General American Transportation Company declares a dividend of 50 cents a share on its common stock, payable July 1. of record June 15. Marine Midland Company declares an extra dividend of 15 cents a share. Johns Mansville Corporation declares a dividend of $1.75 on the preferred stock on account of accumulations, thereby clearing up back dividends, and the regular quarterly dividend of $1.75 a share on the preferred stock, both payable July 2 of record June 18. Daily average production of crude oil in the United States in the week ended June 2 totaled 2,491,539 barrels, a decrease of 35,125 barrels from the Preceding week. SALES INCREASE SHOWN Two Des Moines Insurance Firms Have Large Business Gains. By Times Special DES MOINES, la., June 6.—National Life Insurance Company of ; this city reports an increase of 68 . per cent in sales during May over , the corresponding month a year ago. The Bankers Life Insurance Comi pany, also of this city, reports a ; total gain in sales of 20 per cent for ! the first five months this year over the 'similar period last year.

New York Stocks " ' " ißv Abbott. Hoppin & Cos.) 1

AVERAGE STOCK PRICES FOR TUESDAY Net High. Low. Close, change Thirty industrials 94.94 92.74 94.66 +1.93 Twenty rails 43.30 42.35 43.14 +.90 Twenty utilities 23.32 22.78 23.22 +.52 Forty bonds .... 93.99 +.lO Ten first rails .... 101.52 —.02 Ten second rails .... 80.61 +.29 Ten utilities .... 97.75 +.04 Ten industrials .... .... 96.07 +.06 + Up. -Off.

—June 6 Prev. Oils — High. Low. 10:30. close. Amerada 52 51% Atl Rfg 25% 25% Barnsdall ... 744 7% Consol Oil 10% 10% 10% 10% Cont of Del 20% 20% Houston (new). 4 3% 4 Houston (old) 21 Mid Cont Pet 13% Ohio Oil 12 12 Pet Corp 10% 10% Phillips Pet 19 Plymouth Oil 12% Pure Oil 10% 10% Royal Dutch 33% Sbd Oil 32% Shell Un 8% Soc Vac 12% 15% S O of Cal . - • . • 33% SOof N J .... 43% 43% 43% 43% Sun Oil „. s . Texas Corp 24% 24 s Tidewater Assn 12% 12 2 Un Oil of Cal 15% Steels — Am Roll Mills ••• 18% 18% Beth Steel 33% 33% 33% 32% Byers AM 21% 21% Cruc Steel 24% 24 Ludlum Steel ..... •• • •• • A? Natl Steel 4 <) McKeesport Tin 84 % Rep Ir & Stl pfd 48/4 U S Pipe & Fdy • 23 U S Steel 40% 40% U S Steel pfd /4 Warren Bros ’ 5 . Youngstn S & T .. ••• ••• 20,a Motors— Auburn Chrysler 48 40 Gen Motors 31/8 “I,* Gen Motors pfd lu , 5 , Graham Mot .r- 8 Hudson 13% % 3 , Macit Truck 26 Nash I* Packard Studebaker Yellow Truck... .. ... *"• *■* Motor Access— Bendix Bohn Alum “ 4/s Borg Warner 23 23 Briggs ... 11 Elec Auto Lite 22,2 .ji Houdaille (A) 4 |? Murray Body ‘ /2 V? Stew Warner •'* Timken Roll • •• ••• 29 28, f Timken Det Axel 0% 6 A Mining— Alaska Jun..... •• ••• ••• |0 ,a Amer Metals Amer Smelt Anaconda 14 % 14 (? Cerro de Pasco 35/a 3a_a Dome Mines 4 SZ* Gt Nor Ore “ A 11/2 Howe Sound ••• 52 52 Int Nickel 26% 26 26 8 25 ,s Int Silver 28/* 27,4 Kennecott Cop-. 20% 19% 20/* 19,4 Mclntyre Mine 4 L /S 48 7 ‘ R3KL?*:::-<,4 $ BIBBS*.:::■. •* ;j ,8c U S Smelters lliVt 119 Vanadium 4U /x Amusements— Crosley Radio 13% "Pnv ThPS ••• I^/8 Loews Inc 33% 33 33% 33 Radio Corp 7% 7% RKO 2% 2% Warner Bros 6% o Tobaccos — Am Snuff 57 Am Tobacco A 69% Am Tobacco 71 Ligg & Myers B ?4 A Lorillard Reynolds Tob B. .. ... 44 % 44% Rails— Atchison 56% 56% Atl Coast Lines 41 40% B&O 23% 23% Can Pac 15% 15’A Ch & Ohio 47% 47 47 % 47 Chi & Gt W 3% Chi & Gt W pfd 8 C M & St P 5 4% C M & St P pfd 8% 8% Chi N W 9% Dela & Hud 53% 53 Dei Lac & W 23 23% Erie ■ • 187* 18 Erie pfd 2114 21 21% 22% Grt Northern p 207* 111 Central 25 K C Sou ... 13% Lehigh Valley 15% Lou & Nash 51% M K & T 9% M K & T pfd 23% Mo Pac .. 3% Mo Pac pfd o„ N Y Cent 28% 28% N Y C & St L p 36 N Y New Haven 15% 15% N Y Ont & West 7% Nor Pac 25% 2414 Penn R R 297* Reading • • • • ■ • • • 48 Sou Pac 23% 23’4 23% 23 SOU R R 25% 25% 2% 25% Sou R R pfd 31% Union Pac 12014 West Maryland 12 Equipments— Allis Chalmers-. .. ... 16 15% Am Brake Shoe 2614 Am Car & Fdy 20% Am Car & F pfd 41 Am Loco 23% Am Loco pfd 50 Am Mach & Fdy 15 Am Steel Fdy 15% Bald Loco . 11 10% Bald Loco pfd 45 45 Burroughs 13% 13 !i Case J 1 52 Cater Tract .... 26 25% 25% 25% Deere &Cos 19% 19% 19% 20 Gen Am Tk Car • 37 Gen Elec 20 19% Gen R R Sig 33 Ingsol Rand .... 57 56 57 56 Int Bus Mach 133% Int Harvester 32 Natl Cash Reg 16% 1614 Pullman Inc 50% Rem Rand 972 Und Elliot 40'% West Air B 27 Westingh Elec 347* 34% Utilities— Am & For Pwr 814 814 Am Power & Lit .. ... 7 6% AT&T 116 115% Am Wat Wks 191* Brook Un Gas 62'A Col Gas & Elec 12% Col G & E pfd 74 Com & Sou ... 2% 2V* Consol Gas 32% 32'A 32% 3274 Elec Pwr & Lit 5% 574 E P & L pfd 1374 Int Hydro Elec. .. 614 Int T & T ... 12% 12'% Lou G&EA 16% Nat Pwr & Lit.. 1014 10 1014 10 Nor Amer 17% 17'/, 17% 17% Pac G& E 17% 17 17% 17'/ 4 Peoples Gas 30 Postal Tel pfd 19% Jub Serv N J 35% 36% So Cal Edison 16'% 1774 Std Gas ... 1074 Std Gas pfd 12 12 Stone & Webster 7% United Corp 514 5% Un Gas Imp ... 15% 15% Ut Pwr & Lit ‘A’ 2% Western Union 43% 43% Rubbers— Goodrich 13’/* 13% Goodyear ... 28% 2814 U S Rubber 19 19 U S Rubber pfd 46% 46 Miscellaneous— Am Bank Note , 19% Am Can ... ... 9514 95 957* 94% Brklvn Man Tr . 397* 39 39'/* 39% Conti Can 75 Crown Cork 26 26 Curtis Pub 227* Curtis Pub pfd 80 Eastman Kodak ••• , °5 Gillette 10% iC% Glidden 26 Inter Rapid Tr 874 Owens Bottle 74'% Raybestos Mfg .. •• ••• 18'/* ... Foods — Am Sugar ... ••• 5674 Beatrice Cream 1674 1 6 Borden Prod 25% 25% Cal Packing 30'% 30% Canada D G Ale 21% Corn Prod 65% Crm of Wheat 32% Cuban Am Sug..* 6% 6% Gen Foods 3214 327* Gold Dust 20 G W Sugar 30% 30 lint Salt 29% 29 Loose Wiles 4 ®% Natl Biscuit .... -• 35'4 35% Natl D Prod ... 1774 17% 1774 17% Purity Bak • - 13% S Porto Rico Sug 31 31 Std Brands ... 20% 20% United Fruit 71 Wrigley 62 Va Retail Store*— Asso Dry Goods. .. ... ••• 12% First Natl Stores 65'/, 65% Gimbel pfd 22% Hahn Dept Sts.. ••• ,514 Kresge S S 18% 18'/* 18% 18 Kroger Groc 30 29% Macy R H 4 0% 39% Marshall Fields 15% Mav Dept St ••• • 36^4 Mont Ward .... 26% 26% 26'% 26 Natl Tea 13,, Penny J 52 * Safeway St ■ • 48 '/ Sears Roebuck 41 41 Woolworth ... 48% 4874 Aviation — Aviation Corp 7% 7 Curtiss Wright 3% 3% Curtiss Wr A 10% 10% Douglas Air 217* Nor Am 43 /$. 5 Speery Corp „?'/* United Aircraft 21% 217* Wright Aero ... 54 Chemical*— Air Reduction... .. ... ■■■ 95% Allied Chem .. ... 136 135% Am Com Alcohol .. ... 35 347* Col Carbon 66% Com Solvents 22% 22% Dupont ... 857* 857a

THE INDIANAPOLIS TIMES

Freeport Tex 3974 39'% Liquid Carb .. 28 Math Alkali 30 Montosonta Chm ... 41'% Natl Dis (new). 2574 25 25% 25% Scheneley Dist . 27% 27 27% 2674 Tex Gulf Sulph 34 34 Union Carbide 3974 40 U S Indus Alco 40% Drugs— Cotv Inc 5'% 5% Lambert 27'% 27 27'% 26% Lehn & Fink 21 Un Drug 1574 15% Zonite Prod 5% 5>% Financial— Adams Exp 874 B'/* Allegheny Corp 274 2% Am Int Corp B'% Chesa Corp 45 44'% Lehman Corp 6'% ... Tr Conti Corp.. 4% 4'% 4% 474 Building— Am. Radiator 1374 13% Gen Asphalt 1874 Int Cement 22'% Johns Manville .. ... 49% 4974 Libby Owens Gls .. ... 30% 30% Otis Elev 15% Household— Col Pal 14 Congoleum , .• ■ . • 25'% Kelvinator 1874 1874 18% 18'/* Mohawk Carpet 1774 Proc & Gamble 3374 Simmons Bed .. 16% Textiles— Amer Woolen 11'% 1174 Belding Hem . 11'% Celanese Corp. 25'% 25 74 25'% 25% Collins Aikman 1774 3 7'% Gotham Hose 7 s * Indus Rayon £4% Kayser Julius 17 New York Curb (By Abbott. Hoppin & C^.) —June 5 Close Close Alum Cos of Am 64 Hud Bay Min.. 12% A Cyanide (Bi 17% Humble Oil 44 A & For Pr W 5% Imperial Oil Ltd 1474 Am Gas &El - 26 Int Petrol 26% Am Superpower 2% Lake Shore Min 5274 Asso Gas & El. %'Lib McN Libby 5 Atlas Corp .... 10 74 Natl Bellas Hess 3'% Brazil Tr & Lt 8% Newmont Min.. 48 Can Marc .... 2% Nia Hud Pwr.. 5% Cities Serv .... ,2'%Novadel Agene.. 20'/* Cord Corp .... 5 Park Davis 2474 Creole Petrol.. 12'% Penn Road 2% Deere & Cos ... 20 St Regis Paper. 374 Distillers Corp.. 16 Sherwin Wms... 65% El Bd & Share 15 |Std of Ind .... 26% Ford of Can A 2174)Std of Ky 1574 Ford of Europe 87*ITechnicolor Ind 10'% Gen Aviation . 4'%|Teck Hughes G 674 G 1 Alden Coal 1674 Un Gas 2% Gulf Oil of Pa 597* lUn Pwr & L A 274 Hiram Walker. 36%!W Hargraves M 9%

Chicago Stocks (By Abbott. Hoppin & Cos.)

—June 6 High. Low. 11:30. Berghoff 7'% Bendix Aviation 15 Borg Warner 23% 22% 23 Butler Bros 9% 9*4 9% Chicago Corp com . 2'% Chicago Corp pfd 26 25% 26 Cities Service 2% 2% 2% Commonwealth Edison. 47% 47% 47% Cord Corp 5 4% 4% Crane Cos 8% 8% 8% Electric Household ... 15'% 15% 15% Gen Household Util 12% Godchaux (B) 8% Great Lakes Aircraft % Iron Fireman ... 15 Kingsbury .. 6 Libby-McNeil 5% 5% 5% Loudon Packing 35 34'% 35 Marshall Field 15% Middle West Utilities ’/* National-Standard 25% 25 25% Prima Cos 8 Public Service N. P . • 16% Swift & Cos 16 15'% 16 Swift International .... 31 30% 30% Walgreen Cos., com 26%

Bond Prices 1 "(By Fenner & Beane)

—June 6 High. Low. 10:30. Alleg Corp 5s ‘SO 39 AM&For Pwr 5s 2030... 53% 53'% 39 AT&T db 5s ’65 107% Atchison gen 4s ’95.... 102% 102% 102% B&O cv 4'%s ’6O . . . 65'% Can Pac 4s 8314 83 83 ChMStP&P adj 5s A 2000 42'% 42 42% CHMStP&P rs 5s A ’75. 13% 13'% 13% Denmark s'%s ’55 . .. 89% Erie RR rs 5s ’67 72 71'% 71% Goodyear 5s ’57 99 98% 99 Gt N or 4%s D ’76 . . . . 74% Gt Nor 7s A ’36 93% 92% 93 Interboro RT 5s ’66 68% 67% 68'i Int T&Tdb 5s ’55 64 63% 63% McKess&Robb 5%s ’50.. . . 81'% Nat Dairy db 5%s ’48.. 95% 95'4 95% NY Cent 4'%s O 2013 .. 75'% 75% 75% Pac Gas & El 5s A ’42. . 106% Para Pub s'%s ’SO 50% 49% 50 Penn RR 4'4s D ’Bl 97% Poland 7s ’47 112'% Shell Un Oil 5s ’47 98'/* Sin Cons 6%s B ’3B 104'% Texas Corp 5s ’44 ....102% 102'4 102'% Tob Pr NJ 6’%S 2022 105 4 Un Pac Ist 5s ’47 106% U S Rubber 5s A ’47... 85'% 85 85 Vanadium 5s ’4l 78*4 We.stern Un 5s ’sl , 87 Yg’stwn S & T 5s B ’7O 83 U. S. GOVERNMENT BONDS (By United Press) NEW YORK, June s.—Closing Liberties (Decimals represent thirty-seconds); —Liberty—3'%s (32-47) 103.25 First 4'/*s (32-47) 103.25 Fourth 4*%s (33-38) 103.31 —Treasury—4'4s, 3'/*s (45) 103.11 4'/*s (47-52) 112.10 3%s (43-47) 104.7 3%s (41-43). March 104.15 3%s (40-43), June 104.16 3'4s (43) 104.16 3%s (46-49) 101.25 3s (51-55) 100.17 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —June 5 Bid. Ask. 4s Nov. 1, 1957-37 101 101% 4s May 1, 1958-38 101% 101% 4'/*s JuJy 1, 1956-36 101 101% 4'/*s Jan. 1, 1957-37 101'/* 101'% 4'/*s May 1, 1957-37 101'/* 101!% 4'/*s Nov. 1, 1958-38 101% 102% 4'%s May 1, 1942-32 101 101% 4%s Jan. 1, 1953-33 101 101% 4’%s July 1. 1953-33 101 101% 4'%s Jan. 1, 1955-35 101'/* 101% 4*%s Jan. 1. 1956-36 101% 102'/* 4%s July 1, 1953-33 101'/* 101'% o%s Jan. 1, 1954-34 101'/* 101'% 4%s July 1, 1954-34 101'/* 101'% 5s May 1, 1941-31 101% 102'/* 5s Nov. 1. 1941-31 101% 102'A —Home Loan—--4s July 1, 1951 101.19 101.22 —Federal Farm Mortgage Corporation—3'As March 15, 1964-44..*... 101.28 102.00 The latter two quotations are in thirtyseconds. Daily Price Index (Bv Un.ied Press) NEW YORK, June s.—Dun & Bradstreet’s daily weighted price index of thirty basic commodities compiled for the United Press: (1929-1932 average,- 100 Today 112.94 Yesterday 111.59 Week ago 111.15 Month ago 107.28 Year ago (June 6) 9.149 1934 High (June 5) 112.94 1934 Low (Jan. 3) 101.05 (Copyright. 1934. by Dun & Bradstreet. Inc.) SLIGHT GAIN REPORTED IN U. S. SHIPBUILDING Sixty Boats With 47,753 Aggregate Tonnage Ordered in April. By Times Special WASHINGTON, June 6. —The United States commerce department reports a slight gain in shipbuilding during the month ended May 1. American shipyards on that day were building or had contracts to build sixty vessels for private owners, with aggregate tonnage of 47,753 tons, as compared with fortynine vessels of 42,008 tons on April 1. Os the entire number, seven seagoing vessels had been ordered, and the other fifty-one were ships of 100 gross tons or over with a total displacement of 22,238 tons. The seagoing ships were being built by Bethlehem Shipbuilding Company, Bethlehem, Pa.; Lake Washington Shipyards, Houghton, Wash.; New York Shipbuilding Company, Camden, N. J., and United Drydocks, Inc., New York.

SWINE MARKET IRREGULAR IN SMALLRANGE General Run Steady to 5 Cents Higher; Light Grades Lower. Two-way action featured the hog market in early trading at the local stockyards this morning. The general run held mostly steady to 5 cents higher than yesterday’s average, while several underweights were 10 cents lower. The bulk, 160 to 200 pounds, was selling at $3.15 to $3.35. Other weights, from 200 to 300 pounds, sold at $3.45 to $3.55. while few better grades brought $3.60. Extremely heavy classes, scaling 300 to 330 pounds, were salable at $3.45 to $3.50. Light slaughter kinds, weighing 130 to 160 pounds, sold at $2.15 to $2.65, while light lights, from 100 to 130 pounds, cashed in at $1.40 to $2.15. Packing sows held at $2.25 to $2.85. Receipts were estimated at 8,000; holdovers, 337. Cattle prices remained generally steady with the previous close. Best steers on hand were salable at $7. Others were scarce and inactive. Receipts numbered 800. Vealers were weak to 50 cents lower, selling at $4.50 down, anew low for the current year. Receipts were 600. With only slight action evident, iamb prices remained steady to lower. Better grade classes continued unchanged, while throwouts moved slightly lower. Receipts were 1,000. Initial asking on hogs at Chicago was strong to slightly higher on better grade heavyweights, and around steady on other kinds. Receipts were estimated at 25,000, including 7,000 directs; holdovers, 6,000. Cattle receipts numbered 10,000; calves, 2,500; market steady. Sheep receipts were 7,000; market unchanged. Bulk. Top. Receipts. May 31. $3.35@ 3.50 $3.55 11 000 June 1. 3.400 3.65 3.70 10,000 2. 3.4055) 3.60 3.60 4,500 4. 3.35® 3.60 3.65 9.000 5. 3.25@ 3.50 3.60 11.000 6. 3.15@ 3.35 3.60 8,000 Market Uneven (140-160) Good and choice....s 2.40@ 2.65 —Light Weights—-(l6o-180) Good and choice.... 3.15® 3.25 (180-200) Good and choice.... 3.30® 3.35 Medium Weights—-(2oo-220) Good and choice.... 3.45® 3.50 (220-250) Good and choice.... 3.50® 3.55 —Heavy Weights—-(2so-290) Good and choice 3.55® 3.60 (290-350) Good and choice.... 3.45® 3.55 —Packing Sows—(3so down) Good 2.75® 3.00 (250 lbs.) Good 2.50® 2.85 (All weights) Medium 2.25® 2.75 —Slaughter Pigs—-(loo-130) Good and choice.... 1.40® 1.90 CATTLE Receipts, 800; market, steady. Good and choice $ 6.75® 8.25 Common and medium 4.25® 6.75 (1,100-1.500) Good and choice 7.00® 9.00 Common and medium 5.25® 7.00 (673-750) Good and choice 5.00® 6.25 Common and medium 3.00® 5.00 (750-900) Good and medium ......... 4.50® 6.00 Common and medium 3.25® 4 50 —Cows— Good 2.75® 3.50 Common and medium 2.00® 2.75 Low cutter and medium I.oo® 2.00 Bulls (yearlings excluded) Good (beef steers) 2.50® 3.50 Cutter, common and medium. 1.50® 2.30 VEALERS Receipts, 600; market, lower. Good and choice .' $ 4.50® 5.00 Medium 3.00® 4.50 Cull and common 2.00® 3.00 —Calves— Good and choice 3.50® 5.00 Common and medium 2.00® 3.50 —Feeder and Stocker Cattle— Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 (800-1.500) Good and choice" 4 25® 5.75 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,009; market, steady. (Shorn basis) Spring lambs $ 7.00® 9.00 (90-lb. down) Good and choice 7.50® 8.90 90-100-lb.) Good and choice. 7.00® 7.50 (500-’b. down) Com. and med. 5.70® 7.00 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.00 Other Livestock (By United Press) CHICAGO, June 6.—Hogs—Receipts, 25,000, including 7.000 directs; active, strong to 10c higher than yesterday; 220350 lbs.. [email protected]; top, $3.75 for best 260-290 lbs.; 170-210 lbs.. $2.90®3.50; pigs, $2 down; packing sows largely [email protected]; light lights, 140-160 lbs., good and choice. [email protected]; lightweights, 160-200 lbs. good and choice, $2.65®3.40; medium weights, 200-250 lbs., good and choice, $3.25®3.75; heavyweights, 250-30 lbs., good and choice, $3.50®3.75; packing sows, 275-550 lbs., medium and choice, $2.25®3.20; slaughter pigs. 100-130 lbs., good and choice, $1.25 @2.25. Cattle—Receipts, 10,000; calves, 2,500; fed steers and yearlings strong; fed steers and yearlings predominating m run: lower grade killers and Stockers and feeders, consequently, getting best action; several loads good to choice steers, s9® 9.75. with $lO in prospect; lower grades, $7 down to $4.25 and below; Stockers and feeders active at $2.50@4; all she-stock 25c up: slaughter cattle and vealers: Steers, 550-900 lbs., good and choice, $5.50 @8,25; 900-1,100 lbs., good and choice, $6 @9.40; 1,100-1,300 lbs., good and choice, $6.50®10; 1,300-1,500 lbs., good and choice, $7.75@10; 550-1,300 lbs., good and medium, $3.25@7; heifers, 550-750 lbs., good and choice, [email protected]; common and medium, [email protected]; cows, good, [email protected]; common and medium, [email protected]; low cutter and cutter cows, [email protected] bulls, yearlings excluded, good beef, [email protected]; cutter. common to medium, [email protected]; vealers, good and choice, s4®s: medium. $3.50@4: culls and common, [email protected]; Stocker and feeder cattle: Steers, 550@1,050 lbs., good and choice, [email protected]: common and medium, $2.25@4. Sheep—Receipts. 7.000; fat springers fairly active around steady; best handiweights, $9®9.25; thrwouts largely $5.50®6.50; yearlings slow, weak; ewes steady, best lightweights, $2; slaughter sheep and lambs: Spring lambs, good and choice, $7.85®9.25; lambs. 90 lbs. down, good and choice. $6.75®7.85: ewes, 90-150 lbs., good and choice. $1.50@2; all weights, common and medium, [email protected]. FT. WAYNE, June 6.—Hogs—Steady: 250-300 lbs., $3.45: 200-250 lbs., $3.35; 180200 lbs.. $3.25; 160-180 lbs., $3.15; 150160 lbs., $2.50; 140-150 lbs.. $2.25; 130-140 lbs., $2; 120-130 lbs., $1,75; 100-120 lbs.. $1.50; roughs, $2.50; stags, sl. Calves—s4.so; lambs. SB. LAFAYETTE. June 6 Hogs—Market uneven; 250-300 lbs., $3.40; 200-250 lbs., [email protected]: 180-200 lbs.. $3.10®3.20; 160180 lbs., $2.90@3: 140-160 lbs.. [email protected]: 120-140 lbs.. [email protected]; 100-120 lbs., $1.15 @1.40; roughs. $2.50 down; top calves. $4; spring lambs. $7.50@8. (By Times Special) LOUISVILLE, June 6.—Cattle—Receipts, 250, including 134 direct; demand for slaughter classes from local killers very limited; market, draggy, about steady with yesterday; bulk common to medium grassy steers and heifers, [email protected]; cutter grades down to $3 and less; very little included of value to sell above $5.25; strictly good dryfed yearlings quotable around $6; bulk beef cows, $2.25@3; practical top dryfeds, $3.50; sausage bulls, $2.75 down; most light Hereford stockers quotable, [email protected]: best kind eligible higher. Calves, 300; steady: under strict sort bulk $4 down; very little eligible above. Hogs—receipts, 1,100; market 10c lower; 185-275 lbs., $3.50: 275 lbs. up. $2.80; 160-185 lbs., $2.90; 145-160 lbs., $2.65; 120-145 lbs., $1.75; 100-120 lbs., $1.45; sows, $1.35. Sheep —Receipts, 1,500; supply light; market generally steady with yesterday’s sharp ecline; bulk better ewe and wether trucked in springers, $8.25; most choice long haul overnight and rail lambs, salable [email protected]; buck lambs out at $1 discount; medium and lower grade springers and yearlings mostly $6 down; bulk fat ewes, sl@2; choice lightweights higher. Rubber Sales Increase Bv Times Special NEW YORK, June 6.—Dun & Bradstreet reports rubber goods plant activity throughout the industry is holding at a level almost 50 per cent higher than for the first five months last year, due mostly to a large gain in the tire manufacturing business.

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Florida Reports First Prosperity in 8 Years

Bank Clearings and Building Constructions Show Sharp Increase. By Times Special MIAMI, Fla., June 6.—Aspects of Florida’s improved conditions are reported in a survey just completed by the all-Florida pioneers’ committee, created by Florida newspaper publishers to probe the extent of the first substantial prosperity which has come to the state in eight years. Focusing attention on the upswing resulting from a tourist season estimated by J. B. Sullivan, state hotel commissioner, to have brought $300,000,000 in new cash into the state, the report provides statistical background for the recent state-wide prosperity celebration honoring Henry L. Doherty of New York for the lead he is taking in developing Forida. Doherty Paid Tribute Doherty, who entered the Florida resort field three years ago with the acquisition of extensive hotel and club properties, has so rallied interests throughout the state that Florida for the second consecutive year has paid him tribute in public celebrations. The Florida report shows that private building construction for the first four months of 1934 is three times greater than during the same period in 1933. Contracts totaling $5,509,900 have been let in the first four months of 1934, a gain of 198.2 per cent over the $1,846,700 reported for the same period of 1933. Figures of the F. W. Dodge building survey show that volume of all classes of construction in Florida has increased 607.1 per cent for the same four-month periods, from $3,373,000 last year to $23,851,200 this year. Bank clearings, according to the committee’s survey, averaged a 38.8 per cent increase in four leading cities of the state for the first quarter of 1934 over the initial quarter of 1933. In Mian.., the gain was 65 per cent from $8,512,000 to $14,025.000. In Jacksonville, clearing point for a large portion of the state, the figures jumped from $96,302,005 to $129,588,465, a gain of 34.6 per cent. Postal Receipts Rise Tampa’s figures were $10,896,598.04 last year and $13,831,800.41 this year, indicating a gain of 26.9 per cent. And Pensacola reported a 29 per Produce Markets Delivered in Indianapolis prices: Heavy hens. B'/2@9c: Leghorn hens, 6c; 1934 boilers l'/a lbs. and over 16c; Leghorn boilers lVi ibs. and over, 14c; bareback boilers 11c old roosters, 3c; ducks and geese, 3c; young guineas, IV2 to 3 lbs., 20c; old guineas. isc; No. 1 strictly iresh country run eggs, loss off 10c. Each lull case must weigh 5 lbs. gross; a deduction ol 10 cents a pound lor each pound under 55 lbs. will be qjade. Butter—No. 1. 27(3! 28c; No. 2, 25@26c. Butterfat. 20c. Quoted by Wadley Company. (By United Press) CHICAGO. June 6.—Eggs Market steady; receipts 18.117 cases; extra firsts. 15Vic; Iresh graded firsts. 15c; current receipts. 13@14c; dirties. No. 1. 12V2C; No. 2. 116 c; checks, No. 1. 12Vic; No. 2. 11c. Butter—Market steady; receipts. 14.307 tubs; extra firsts (90-91 Vi score), 23'2(3) 24c; firsts (88-89V2 score), 22V2@23c; seconds 1 86-87 Vi score). 21@2V/ac\ extra (92 score), 24*/2c: specials. 25<®25y2C; standards, 24Vic. Poultry—Market unsettled; receipts, 38 trucks. 1 car; hen.s live, 12V-C; geese. 6c; broilers. 16@20c: turkeys. 15c; Leghorns. B@9c: barebacks, 16®18'2C; ducks, spring, ll@l3Vic; fryers, 16@18c; Leghorn broilers. 14(3)16c; springers. 23® 24c; old roosters. 7 Vic. Cheese—Twins. 13Vi@13’/2C; Longhorns. 13 3 /4@l4c. Potatoes—Old stock, supply moderate; demand and trading slow; market steady; Idaho Russets, $1.55 3 /i1.70; combination grade. $1.25; Wisconsin round whites, $1.15; Minnesota early Ohios, sl. New stock— Supply liberal: demand and trading good; market steady; Alabama triumphs. $1.55® 1.70; slightly decayed. $1.45: Louisiana U. S. No. 1, [email protected]; slightly decayed. $1.35(31.45; Mississippi U. S. No. 1. $1.55 #1.60; Louisiana burbanks No. 1. $1.60. Arrivals, 113; on track, 310; shipments. 779. NEW YORK. June 6.—Potatoes, steady; southern, sl@3 bbl.; Maine. $1.35(32.75 bbl. Sweet potatoes—Steady; Jersey, basket. [email protected]. Flour—Firm; springs: patents, $7.75 8 bbl. Pork—Steady, mess, $20.25 bbl. Lard—Steady: middle v;est spot, $4.10(34.10 per 100 lbs. Dressed poultrysteady; turkeys, 13®23'/2c; chickens. 8@ 30c; broilers. 19@30c; capons, 24<®34c; ducks, ll@14c; Long Island ducks. 14Vi® 15c. Live poultry, firm; geese, 6<3>7c; turkeys. ll@17c; roosters, 9c; ducks, B®l2c: fowls. 14@19c; capons. 22c; broilers. 15® 26c. Cheese—Quiet; state whole milk fancy to specials, 18@19c; young America. 14%c. Butter—Receipts. 17.751 packages; market firmer; creamery, higher than extra, 25'/4 @>26c: extra (92 score), 25c: first (90-91 score). 24Vi©24 3 /ic; first (88-89 score). 23Vi(3 24c; seconds. 22V2@23c; centralized (90 score), 24Vic; centralized (88-89 score), 23Vi<324c: centralized (84-87 score). 22>.@ 23c.23c. Eggs—Receipts. 43.507 cases; market irregular; special packs, including unusual hennery selections, 18Vi(3 2IV2C: standards. 18@18Vic: firsts. 16c; seconds. 15c: mediums. 14<3T4'2C: dirties. HSill’sc; checks, 13'/2c: storage packs. 16V2®1<%C. Business Failures Drop By Times Special NEW YORK, June 6.—Business failures in the United States in the week ended May 31 totaled 216 against 225 in the previous week and 378 in the similar 1933 week according to Dun & Bradstreet.

cent increase, from $10,971,586 to $14,170,672. Seven of Florida’s leading cities showed an increase in total postal receipts from $815,245.49 in the first quarter of 1933, to $970,704.97 for the corresponding quarter of 1934, an increase of 19 per cent. Newspaper advertising lineage has increased throughout the state, averaging 26.6 per cent in leading cities, or 5 per cent more than the general average increase throughout the country, the report said. STEEL INDUSTRY PAY ROLLS RISE Wages, Salaries Increase $45,471,878 in April; Operations Gain. By Times Special NEW YORK, June 6.—Pay rolls in the steel industry were larger by $4,208,508 during April than they were in the preceding month, and employment increased by 11,809, according to the latest figures on hours and wages just announced by the American Iron and Steel Institute. Wages and salaries increased during the month to $45,471,878, of which $36,778,026 went to wage earners. Those figures reflect the general 10 per cent increase which was granted to wage earners in the steel industry April 1. While the hourly wage rates increased 10 per cent during the month, employment rose to a total of 431,086. Os this number, 392,069 are wage earners. This is approximately 93 per cent as many wage earners as were employed in the industry at the high point of 1929. The average hourly earnings among the wage earners was 64.8 in April as compared to 58.9 in the preceding month. The current wage rate is approximately 7 per cent above the 1929 wage level. In the ten months since last June, the steel industry has increased its operating rate from 45.96 per cent of capacity to 54.19, a gain of 3.23 points or 17 per cent. At the same time, the total monthly wages have increased 50 per cent; the number of wage earners has increased 28 per cent and hourly wage rate have risen 37 per cent while the average number of hours worked per week has dclined 14 per cent. On Commission Row —June 6 —Fruits— Apples—Fancy Ben Davis. Indiana. $1.75; fancy Winesaps. [email protected]. Cherries—Home grown, 24-qt. crate. s2® 2.50. Oranges—California. Sunkist. $4.75®5; Red Ball. [email protected]. Lemons—Sunkist, $7; Red Ball. $6.50. Grapefruit—Florida Seedless. $3.75®4. Strawberries —Aromas, 24-qt. crate, s2® 2.50; Premiers. [email protected]. Cantaloupes—California. Pony crate, $2.50; jumbos. 455. $3.75; standards, $3.25; Honeydews, $2.50. Pears—Calavos, $4 per box. Pineapples—Cuba, $3.25®3.75. Bananas—Per pound. sc. —Vegetables— Cabbage—Tennessee, pony crate. $1.25. Celery—Florida. $4.25 a crate: mammoth bunch, 90c: medium bunch. 60c. Onions —Indiana yellow. 50-lb. bag. 75c. Potatoes—Northern round white. 100-lb. bag. $1.75; Red River Ohios. $1.50: Maine Green Mountain. $1.90; Colorado McClures. $2; Idaho Russets. 100-lb. bag. $2; New Texas Triumphs. $2.10. Sweet Potatoes—Tennessee Nancy Hans, crate. $2.40. , Asparagus—Home grown, dozen. 60c @ $1.25. Beans—Round, stringless. .11.25. Beets—New. 65c a dozen. Carrots—California. 6-dozen crate. $3.25; bulk new. $1.60. Cauliflower—California, $2.75. Lettuce—Hot house. 15-lb. basket. 90c; Iceberg best. s4®s a crate. Peas—2 B-lb. hampers, $2.50. Radishes—Home grown buttons. 35c a dozen. . Rhubarb—Home grown, dozen. 30c. Spinach—Home grown, bushel. 75c. Tomatoes— Repacked, 10-lb. carton. $1.25; original Texas. 30-lb. lug. $2.25.CHICAGO FRUIT MARKET (By United Press) ’CHICAGO, June s.—Apples—Michigan Spies [email protected]. Carrots—Southern. <s® 85c bushel. Spinach—lllinois. 25@60c bushel. Beans—Southern green, 25c®*l; wax, 40c®51.25 bushel hampers. Cucumbers —Central western hothouse. [email protected] (2 dozen) Tomatoes—Texas, [email protected] lug box. fcweet Potatoes—Tennessee. $1.90 bushel hampers. Mushrooms—lllinois, 15 @j 25c (lb. cartons). Asparagus—lllinois. 50@ 65c (box). Strawberries —Indiana. [email protected] (24 quarts). Onion market; (50-lb. sacks): Texas—White, $1.25; Yellows, $1.25. California—Whites. $1.25. Preferred Stock Retired By Times Special CHICAGO, June 6.—Announcement has been made by the Chase Brass and Copper Company of the retirement of its outstanding 6 per cent cumulative preferred stock, series “A,” at $lO5 ancUaccrued dividends as of Jun^^#

PAGE 13

WHEAT PRICES SLUMP AFTER UNEVENSTART Scattered Rains Over Belt Forces All Months Sharply Lower. By Time* Special CHICAGO, June 6.—Following an uneven opening on the Chicago Board of Trade today, wheat prices turned dull, ranging from 1% to 1% cents lower than yesterday’s close. Scattered rains in the belt overnight were a weak factor after the September delivery spurted 1% cents in initial trading. CHICAGO, June 6. —Weather reports varied today and grain prices were unsettled at the opening of the Chicago Board of Trade. Wheat held V± cent lower to 1% cents higher, corn was unchanged to off H cent, oats were unchanged to up cent, and rye wa* unchange to % cent improved. Nearly all sections reported scattered rains and cooler temperatures, although rainfall was not heavy. Liverpool wheat, influenced by the strong clopp here yesterday, was sharply higher. Stocks and cotton were firm.

Cash Grain

INDIANAPOLIS —June 5 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b. shipping point basis 41% New York rate, were; Wheat—Strong: No. 1 red. 93@94c; No. 2 red. 91®92c: No. 2 hard, 91@92c. Corn—Strong: No. 2 white, 54@56c; No. 3 white, 53@54c: No. 2 yellow. 50%@51%c; No. 3 yellow. 49%@50%c; No. 2 mixed, 49%@50%c: No. 3 mixed. 48%@49'%c. Oats —Strong: No. 2 white, 40@41c; No. 3 white, 39® 40c. —lnspections Wheat—No. 2 red, 1 car; No. X mixed, X car; total. 2 cars. Corn—No. 2 white. 1 car; No. 3 white. 3 cars; No. 2 yellow. 3 cars: No. 3 yellow. 3 cars; No. 4 yellow. 2 cars; No. 5 yellow. X car; sample yellow-, 1 car; No. 3 mixed. X car; total, 14 cars. Oats —No. 2 white. 1 car; No. 4 white. 2 cars; total, 3 cars. Local Wagon Wheat City grain elevators are paying 90 cents for No. 2 soft red wneat. Other grades on their merits. (By United Press) CHICAGO. June 5. —Cash grain: WheatYellow hard. 96c. Corn —No. 2 mixed, 60%c: No. 2 yellow, 57@58c: No. 3 yellow. 56%@ 57c; No. 4 yellow. 56%c; No. 2 white. 61@ 62%c: No. 3 white. 60%c; No. 2 yellow lake billing. 57c. Oats—No. 2 white, 42%® 44%c; No. 3 white. 42%c; No. 4 white. 41 %c. Rye—No. 2. 62%c. Barley—No sales: quotable. 55c@$l. Timothy—s7.so® 8 Clover Seed—slo.2s@4. Cash provisions; Lard $6.37; loose, $5.75; leaf, $5.75; bellies. $8.75. TOLEDO, June s.—Grain close: Grain in elevators, transit billing—Wheat—No. 2 red. 51.03'%@>1.04'%. Corn—No. 2 yellow, 60@61c. Oats—No. 2 white. 48@49c. Rye—No. 2. 68'%@69'%c. (Track prices 28%c rate.) Wheat—No. 1 red. [email protected]%c; No. 2 red. 99@99'%c. Corn—No. 2 yellow, 56@57c; No. 3 yellow. 55@56c: No. 4 yellow. 54@55c. Oats —No. 2 white, 44'%® 46c: No. 3 white. 44@45%c. Seed close: Clover —Cash. $8.25. Alsike—Cash, $8.50. ST. LOUIS. Mo., June s.—Cash grain close: Wheat—ln good demand, steady to % cent higher on red. and hard grades 3c higher; No. 2 red. 98'/*@9B'%c:; No. 2 red, sl.Ol, nominal; No. 2 hard. $1.02, nominal. Corn—ln good demand, tone steady; No. 2 yellow, sc; No. 3 yellow, 57%c: No. 4 yellow, 57c. Oats—ln fair demand. 2c higher; No. 2 white, 44'%c; No. 2 red. 42c. NEW YORK. June s.—Wheat—No. 2 red, $1.17%: No. 2 hard* winter. $119%. Corn —No. 2 mixed. 63 %c. Oats—No. 3 white, 53%c. Chicago Futures Range Prev, Wheat— High. Low. 10:00.. close. Julv 1.01 .99% 1.00% 1.00% Sept 1.03 1.00% 1.01% 1.01% Dec 1.03% 1.02’/* 1.02% 1.03 Corn— July 56% .55% .56% .56% Sept 58% .58 .58% .58% Dec 59"* .59 .59 .60 Oats— Julv 44% .43% .44% .44'* Sept 45 .43% .44'* .44% Dec 46 .44% .45',* .45% Rye— July 63% .62 .63% .63% Sept 65 .64 .64% .54% Barley— July 54 '4 Sept 54% ~54 .54 .55 CHICAGO PRIMARY RECEIPTS —June 5 Bushels • Today. Last Week. Wheat 300,000 643,000 Corn 359.000 355,000 Oats 133.000 168,000 Wool Business at Low Point By Times Special CHICAGO, June 6. Federal bureau of agricultural economics reports domestic mill consumption of combing and clothing wool on a grease basis in the first quarter this year was the smallest for any corresponding period in the last ten years.

WE WILL BUY Allegheny Realty Corp. 6% Pfd. Stock Bronx Realty Cos. 6% Pfd* Stock Hoffnann Realty Cos. 6% Pfd. Stock Indianapolis Natl. Corp. 6% Pfd. Stock J. W. Jackson & Sons Realty 6% Pfd. Stock Marleigh Realty Cos. 6% Pfd. Stock Muncie Theatre Realty 6% Pfd. Stock Newcastle Rosalie Realty 6% Pfd* Stock Pilgrim Properties, Inc. Common Stock Seifer Realty Curp. Common Stock Tippecanoe & Illinois Realty Cos. 6% Pfd* Stock Van Courtland Realty Cos. ‘ 6i/ 2 % Pfd. Stock Kiser, Cohn and Shumaker, Inc. 130 E. Washington St. • Phone Lincoln 2481