Indianapolis Times, Volume 46, Number 25, Indianapolis, Marion County, 9 June 1934 — Page 14

PAGE 14

Wall Street • Overproduction Is World’s Greatest Problem, Believe Brokers. BY RALPH HENDEKSHOT

Times Special Financial Writer THE world's greatest problem, in the opinion of Weingarten & Cos., members oKthe New York Stock Exchange, is overproduction. Colonial development up to now, this firm pointed out in a message to clients today, has always been a reasonable solution for a nation facing the problem of obtaining

markets for their products of agriculture and industry. But, it adds, no more colonial markets remain to be ' devel oped, and production, through mechani cal improvement, has progressed beyond the point where it can be absorbed by na-

Hendershot

tions and their present colonies. This is not a pretty picture the (brokerage firm has painted, but it probably coincides with the views held by a great many people. It is quite the opposite to the picture which was being painted a few years ago by those who thought we had entered into anew era. It is to be hoped that it is just as extreme in its characterization. It seems just a little ridiculous to suppose that we have reached the end of things, as it appears to imply, and that the world is to go backward from now on. Perhaps it is true that the methods which worked out well in the past can no longer be relied upon, but must we assume that we have reached the end of our resources? Are we ready to call it quits merely because we are down for the time being and getting very much the worst of it, economically speaking?

WHAT we need today more than ever before are some real industrial and financial leaders—men who have the ability to think straight and who have the courage to act on their contusions. The old business machine has become a bit too complicated for those who were followed with the utmost faith a few years ago, and the trouble arose primarily because they were too busy minding their own business to think of industry as a whole. Things were going along so smoothly that they were not called upon to think. But irrespective of whether overproduction is the biggest problem we have to face today, there is no quarrel over the fact that we have problems. And merely because we have not been able to overcome them thus far is no reason to believe that we cannot do so. Inventive genius in this country has reached the stage where it is seriously endeavoring to force rain from the heavens to relieve the drought-stricken areas, and surely if we have the courage to tackle elements such as that, we have no reason to believe that we are willing to turn back over a problem such as overproduction. a * NECESSITY always has been the mother of invention, and, while one wonders just how much necessity must manifest itself before the financial and industrial leaders will cojne out of their shells and shake themselves, recent developments indicate that some of them at least are about to come to life. Some of them are beginning to realize that they showed neither good sportsmanship nor courage when they turned their problems over to the politicians to solve and now are anxious to redeem themselves. Moreover, new leaders are coming to the fore, and some of them appear to be made of the stuff necessary to get things done. They probably will replace a few of the strong, silent, iron men of a decade ago.

N. Y. Coffee, Sugar Markets COFFEE Santos High. Low. Close. March 11.38 11.36 11.36 May 11.47 11.43 11.43 July 10.80 10.74 10.70 6eptember 11.17 11.08 11.11 December 11.32 11.22 11.26 Ri* January 8.55 March 8.67 8.60 8.60 May . . 8.68 July 8.44 8.40 8.40 Seotember 8.42 December 8.50 Sugar January 1.73 1.72 1.72 March 1.79 1.78 1.78 May . . 1.83 July 1.57 1.54 1.57 September 1.63 1.61 1.61 December 1.72 1.71 1.71 In the Cotton Markets —June 8— , CHICAGO High. Low. Close January 12.50 12.44 12.50 March 12.65 12.55 12.61 May 12.E5 12.65 12.71 July 12.15 12.02 12.08 October 12.41 12.27 12.32 December 12.51 12.37 12.45 NEW YORK January 12.46 12.33 12.34 March 12.57 12.45 .12.49 May 12.66 12.55 17.58 July 12.07 11.33 11.38 October 12.38 12.17 12.20 December 12.42 11.28 12.32 NEW ORLEANS January 12.64 12.37 12.37 March 12.52 12.43 12.48 May 12.58 July 12.07 11.34 .12.00 October 12.31 12.15 12.21 December 12.41 12.26 12.33 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 mice run 5.00 Coke, nut size 8.75 Coke, egg size 8.75 Indiana forked lump [email protected] Indiana egg 5.25(8:5.50 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 coal, and $1 a ton for coal carried to bin. Air Traffic Increases By Timer: Special . WASHINGTON. June 9.—Passenger traffic on eighteen scheduled airlines in April amounted to 31,415 as compared with 22,605 carried by twenty-two companies in the previous month, the department ofcommerce reports. Lead Stocks Rise in April CHICAGO, June 9.—Lead stocks in the United States on May 1 totaled 299.927 short tons against 298,293 April 1 and 284,309 on May 1, 1933, the American Bureau of Metals Statistics reports.

HEAVY DEMAND FORGES STOCKS TO NEW HIGHS Sales Volume at Largest Figure Since May 15; Trading Active. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 9.—Wall Street yesterday hoped the President would be able to prevent a walkout in the steel industry and bought stocks heavily. Asa result the stock market reached new highs since May 5 and sales were the largest since May 15, when the total was 1,681,000 shares. At times the tickers strained to keep pace with the dealings. For a few seconds they were a minute late. The contrast with recent dull sessions—the lightest since 1924 was heartening to the financial community, and it had a substantial influence in bringing new buying. Sharp Gains Made Gains in stocks ranged to 5 points, the best in Chemical shares. Automobile issues soared; oils were strong with Amerada at a record high; utilities joined the rally; store shares were in demand; communications rose easily; rubbers, - farm equipments, wet stocks and special issues gained. Allied Chemical rose more than 5 points and Du Pont 5. Case was up 4. United States Steel jumped 3 points and other steels made corresponding advances. Tobacco shares were strong on increased cigaret consumption. Schenley continued to rise on its first quarter report showing net equal to $3.06 a share. Chrysler gained 3 points and General Motors more than 2 points. Atchison and New York Central featured the rails with 3 and 2point gains, respectively. United States Smelting and R. H. Macy each gained more than 3 points. Advances of 2 to more than 3 points were noted in American Commercial Alcohol, American Can, American Telephone, Bethlehem Steel, Columbia Carbon, Eastman, Goodyear, Johns-Manville, Montgomery Ward, J. C. Penney, SearsRoebuck and Westinghouse Electric. A long list of others rose more than a point, while some of the inactive issues were as much as 6 points above the previous close. Carloadings Decrease Business news for the latest reporting week reflected the inroads of the Memorial day holiday. Car loadings were down 46,026 cars for the -week ended June 2, a slightly more than seasonal dip. Automobile production for May was 336.657 cars, against 278,983 cars in April. General Motors Corporation total sales in May were 132,837 units, against 153,954 in April. It was the best May report the company made since 1931. A favorable item came from Younystown indicatinv a rise of 25 cents a ton in steel scrap. There had been a downtrend in this quotation. Money and Exchange INDIANAPOLIS BANK CLEARINGS —June 8— Clearings $1,730,000.00 Debits 3,834,000.00 FOREIGN EXCHANGE (By Abbott. Hoppin. & Cos.) —June 8— Sterling. England $5.06% Franc. France 0 661 Lira. Italy ; ~,,, .0866 Belgas. Belgium 0866 Guilder. Holland ! '.6790 Peseta. Spain Krone. Norway 2545 Krone. Denmark 2262 Yen. Japan 3006 Treasury Statement (By United Press) WASHINGTON. June B.—Government expenses and receipts of the current fiscal year to June 6. compared with the corresponding period of the previous fiscal year: This Year. Last Year. Exp $6,482,729,663.61 $4 762.841.521.56 Recpts. .. 2,792.556.689.55 1,831.309,409.33 Deficit .. 3.690.172.974.06 2.931,532.212.23 Cash Bal.. 1.981.976 299.37 Investment Trust Shares (By Abbott, Hoppin & Cos.) —June 8— Bid. Ask. American Bank Stock Corp... 1.12 1.18 American & General Sec A... 4.50 5.50 American & Inv Tr Sh 1.75 Basic Industry Shares 3.22 3.28 British Type Inv Tr Sh 45 .50 Collateral Trustee Shares A.. 4.60 4.70 Corporate Trust Shares (old *. 2.08 2.12 Corporate Trust Shares (new) 2.28 2.34 Cumulative Trust Shares .... 3.85 3.90 Diversified Trust Shares A 6.25 Diversified Trust Shares B 7.37 7.62 Diversified Trust Shares C 3.03 3.08 Diversified Trust Shares D ... 4.62 4.75 First Insurance Stock Corp... 1.22 1.28 First Common Stock Corp 65 .69 Fixed Trust Oil Shares A.... 8.12 .... Fixed Trust Oil Shares B ... 7.12 Incorporators Investments 17.25 18.62 Land Bank Bond Shares 1.18 1.31 Low Priced Trust Shares 5.89 6.05 Mass Inv Trust Shares 18.34 19.93 Nation Wide Securities 3.25 330 North Am Trust Shares (53).. 1.85 . . No Am Trust Shares (55-56) 2.31 235 North Am Trust Shares (58).. 2.25 2.30 Selected American Shares .... 2.42 .... Selected American Shares Inc 1.10 119 Selected Cumulative Shares... 6.27 Selected Income Shares 3.26 3.75 Std American Trust Shares A. 2.85 2.92 Trust Shares of America 2.69 273 Trustee Std Oil A 5.65 5.80 Trustee Std Oil B 5.15 5.30 U S Electric Lt & Pwr A 12.50 12 75 Universal Trust Shares 2.08 2.18 Daily Price Index (By United Press) NEW YORK. June B.—Dunn & Bradstreet s daily weighted price index of thirty basic commodities compiled for the United Press: (1930-1932 average. 100.) Today 112.23 Yesterday ift.ll Week ago 112.93 Month ago 108.38 Year ago (June 9) 92.37 1934 high (June 5) 112.94 1934 low (Jan. 3) 101.05 (Copyright, 1934, by Dun & Brandstreet, Inc.)

Bright Spots (Bv Abbott. Hoppin & Cos.)

Pullman Company net income during the first four months of the current year amounted to $141,783 against a deficit of $1,588,204 in the corresponding 1933 period. Reliance Manufacturing Company declares the regular auarterlv dividend of 15 cents a share on the common stock, payable Aug. 1 of record July 20. and the regular auarterlv dividend of $1.75 a share on the preferred stock, payable July 1. of record June 20.

FACTORY WAGES CLIMB 26.2 PER CENT IN YEAR Average Per Capita Pay Advanced to $19.97 a Week. By Times Special WASHINGTON, June 9.—An increase in factory wages during the past year amounted to 26.2 per cent, but the average per capita wage advanced to only $19.97 a week, according to Secretary of Labor Perkins in a report here yesterday. Due to higher average hourly earings and not to increased hours at work, pay of factory employes during April rose 2 per cent, Miss Perkins stated.

New York Stocks (By Abbott. Hoppin & Cos.)

AVERAGE STOCK PRICES FOR THURSDAY Net High. Low. Close. Change. Thirty industrials 95.24 94.04 94.72 —.05 Twenty rails 43.46 43.13 43.29 —.49 Twenty utilities 23.08 22.85 22.91 —.14 Forty bonds .... 94.15 + .09 Ten first rails .... 101.32 +.lO Ten second rails .... 80.62 +.03 Ten utilities .... 98.09 +.17 Ten industrials .... 96.57 +.05 -Off; +Cp.

—June 8— Prev. Oils— High. Low. Close, close. Amerada 55% 55% ao% 55% Atl Rig 27% 26Va 27% 26% Barnsdall 8% 8 8% 8 Consol Oil 11% 11% 11% 11 Cont of Del ... 21% 20% 21% 20% Houston (new).. .. . 4V 4% Houston (Old i . 23% 22% 23% 22% Mid Cont Pet... 14 13% 14 13% Ohio Oil 12% 12% 12% 12% Pet Corp 11% 11% 11% 11% Phillips Pet 20 19% 20 19% Plymouth Oil .. 13% 12% 13 12% Pure Oil 11 % 11 11% 10% Royal Dutch ... .. . • 34% 34 Sbd Oil 35% 34% 35 34% Shell Un -8% 8% 8% 8% Skelley Oil 10% 9% Soc Vac 16% 16 16Via 16% SO of Cal 37% 3614 37, 36% S O of Kan ... 38% .... SOof N J 45% 44% 45% 44% Sun Oil 63% 62% 63% 62% Texas Corp.... 25% 25 25% 24% Tidewater Assn. 13:4, 12% 13% 12% Un Oil of Cal. 17% 16% 17% 16% Steels— Am Roll Mills. 19% 18 19% 17% Bteh Steel .... 34% 23% 34% 23% Byers A M 22% 21% 22% 20% Col Fuel & Iron ... ... 4% Inland Steel... 39% 38 39% ... Lumlum SteeL. 15% 14% 15% 14 McKeesport Tin. 86% 85% 86% ... Mid Steel 13% 13 13% ... Natl Steel 42 39% 42 39% Otis Steel 5Vs 5 o .4% Rep Iron & Steel 17% 16% 17% 16% Rep Iron&Stlpf 4fc% 46-% 48% 4o U S Pipe & Fdy. 24% 23% 24 % 22-,2 U S Steel 43 39% 42% 39% U S Steel pfd... 86% 83% 83% 83 Warren Bros • • 9 Youngstn S& T 21% 20 20% 19% Motors— Auburn 36% 35 36% 35 Chrysler 43% 39% 43% 39% Gen Motors .... 33% 30% 33% 30% Gen Motors pfd. 100% 100 100% 100 Graham Mot ... 2% 2% 2% <./a Hudson 14% 12% 14% 12% Hupp 4 3% 4 3% Mack Truck 27 25% 27 25% Nash 18% 17% 18% 17-/8 Packard 4% 3% 4% 3 s R eo .. ... . . - 0 78 Studebaicer 5% 4% 5% 4% Yellow Truck .. 4% 4% 4% 4% Motor Access— Bendix 16 15% 16 15% Bohn Alum 57 54 67 53% Borg Warner ... 23% 23 23% 22% Briggs 17% 16% 17% 16% Budd Wheel ■ 3% 3% Eaton Mfg 18% 17% 18% 16 /a Elec Auto Lite... 23% 22 23% 22 Houdaille A 4% 4% 4% 4% Mullins Mfg . .. 11% 10% 11% ••• Mullins Mfg pfd. 36 32% 36 ... Murray Body ... 7% 7-a 7.'a J Stew Warner ... 7% 7% 7% 7 4 Timken Roll .... 30 28>/2 30 28,2 Timken Det Axle 7% 6% 7% 6% Mining— Alaska Jun 21 20% 21 20% Am Metals 23 t 23 23% 23 2 Am Smelt 41% 39% 41% 40 Anaconda 15% 14% 15% 14 a Cal & Hecla •••„ 4% 4% Cerro De Pasco.. 37% 35% 37 4 36 Dome Mines 43 42 43 42 Granby 10% 9,a 10 a 9/2 Gt Nor Ore 12% 11% 12% -11/a Homestake Min. ■ ••• • - •,, Howe Sound ... 54% 54 54% 54 fiS SSST• M SnSSt w'.' 264 ’soil ’;i;4 mi Mclntyre Mine. 49% 48% 49% 49 Noranda Cop... 45% 44% 45% 45 Park Utah 4% 4% 4% 4 A Phelps Dodge... 17% 16% 17% St Joe Lead 20 1 4 19% 19% 19-? U S Smelters. .126% 122 126% 122 Vanadium 21% 20% 21 /* 19,2 Amusements Croslev Radio.. 14 7 /g UV2 IjVz ••• Fox Thea 15 14% 15 ••• Loews Inc 33% 32% 33% 32 4 Radio Corp ... 7% 7% 7,4 7,a RKO 32% 2% 2. a Warner Bros ... 6% 6% 6% 6/8 Tobaccos— Am Snuff ••• 58 ... Am Sum T0b.... 18% 17% 18% ••• Am Tcb (A).... 71 70 71 69% a£ Tob (8).... 73% 72<4 73% 72 Gen Cigars... . 40 ... Lig & M (8)... 9644 94% 96% 95 Lorillard 19% 18% 19% 18% Reynolds T (B) 45% 44% 45% 44% Rails— Atchison 59 55% 59 55% Atl Coast Lines. 42 39% 42 39% B & 0 25 23 Vi 24% 23% Can Pac 15 15% 15% 15 Ch & Ohio 47% 46% 47% 46% Chi * Gt W pfd .. ... 8 7% C M & St P 5% 5 5% 4% C M & St P pfd 8% 8 8% 7Vs Chi N W 10% 9% 10Va 9% Chi N W pfd.... 18% 17% 18% ... Dela & Hud ... 55% 53% 55% 52% Del Lac & W 24% 23% 24% ... Erie 20% 19 Va 20% 18% Erie pfd 23% 23% 23% 22 Grt North pfd. 22% 20% 22% 0% 111 Central .... 6% 25 26% 24% K C Sou 14% 14% 14% ... Lehigh Valley.. 16% 14% 16% 14% Lou & Nash ... 54% 53% 54% 50% M K & T 9% 9% 9% 9 MK & T pfd.. 24% 22% 24% 22% Mo Pac 4% 3% 4% 3% Mo Pac pfd ... 6% 6 6'% 6 N Y Cent 30% 27% 30V* 277a N Y Chi &St L 21% 20 21'% 19% N Y C & St L pfd 37 35 37 N Y New Haven 16% 15 16% 15% N Y Ont & West 8% 8% 8% ... Norfolk & Wes. . . 180 ... Nor Pac 26% 24% 26% 24% Penn R R 30% 29% 30% 29% Reading . 46% . ■ Sou Pac 24% 22% 24% 22% Sou R R 27'% 247a 27% 25 Sou R R pfd ... 33% 32 33% Union Pac 123% 120 123 119% West Maryland . 13% 12% 13% 12 Eauipments— Allis Chalmers . 16% 15% 16% 15% Am Brake Shoe.. 26% 25% 26% 25% Am Car & Fdy . 21% 20% 21 Am Cr &Fy pfd 42 4178 42 Am Loco 26 25 26 ... Am Loco pfd 55 54 55 Am Mach & Fdy 15% 15% 15% ... Am Steel Fdy... 17 15% 17 15% Bald Loco ...... 11% 10% 11% 10% Bald Loco pfd.. 47% 47 47% 43% Burroughs 14 13% 14 13% Case J I 55% 51% 54% 5r Cater Tract .... 27% 25% 27% 25% Deere &Cos .... 21 19'% 21 19% Elec Stor Bat... 41% 40 41% 40 Foster Wheeler . 16% 15% 16% 1j Gen Am Tk Car 37% 36% 37% 37 Gen Elec 20% 19% 20 Va 19% Gen R R Sig ... 34 32% 32'% ... Ingsol Rand ... 61 58 61 57% Int Bus Mach .. . 137 136% Int Harvester .. 33% 31% 33% 31% Natl Cash Reg.. 17% 16% 17% 16% Pullman Inc ... 51% 50% 51% 50% Rem Rand .... 10 9% 10 9% Und Elliot 43'a 41% 43% 40 West Air B 29% 27% 29% 27*% Westingh Elec • 36% 34% 36% 34% Worthington Pm 22% 21 22'% ... Utilities— Am & For Pwr . 8% 8% 8% 8 Am Power & Lit 7% 7 7% 6% AT&T 119% 1147a 118% 114% Am Wat Wks... 19% 18% 19'% 18% Brook Un Gas . 64 63 64 62% Col Gas & Elec. 13% 12% 13% 12% Col G& E pfd 74% 74% Com & Sou .... 2% 2 2 2% Consol Gas 33% 32 33% 32 Elec Pwr & Lit.. 6 5% 6 5% E P & L pfd .. 14 ... Int Bydro Elec . 7% 6% 7% 6% Int TANARUS& T . 13*4 12*/a 13% 12 Nat Pwr & Lit. 10% 9% 10% 9% North Amer ... 18% 17*/a 18% 17 Pac G & E 17% 17% 17% 17% Peoples Gas . 32% 30*4 32 % 30% Postal Tel pfd. 20% 18% 20% 18% Pub Serv N J. 37 35% 37 36 So Cal Edison .... . 16 17 Std Gas 11 10% 11 9% Std Gas pfd ... 12% 11% 12% 11% Stone & Web.. B*4 7 % 8% 7',4 United Corp .... 5% 5 514 5 Un Gas Imp ... 16% 15% 16% 15% Ut Pwr & Lit A 3 27a 3 27a Western Union. 47 43% 47 43Ts Rubbers— Firestone 19 18% 19 Goodrich 14% 14 14% 13% Goodyear 30% 28 30% 28 Kelly Spring.... 2% 2% 2% 2% U S Rubber ... 20% 19% 20% 19% U S Rubber pfd 48% 46% 48% 46

Miscellaneous— Am Bank Note.. 21% 19% 21% 19% Am Can 98% 95 V 4 98% 94% Anchor Cap 21 20% 21 20 Brklyn Man Tr. 40 39 39% • Conti Can .... 77% 76% 77% 75 Crown Corn .... 26% 25% 26% 25% Curtis Pub .... 23% 22% 22% 22% Curtis Pub pfd. 81 80% 81 80% Eastman Kodak. 97% 95% 97% 9a Gillette 11 10% 11 10% Glidyden 26% 26 26% 26V4 7%B'ißh shrd shrdl shrdlu luupup up Inter Rapid Tr.. 9 8% 8% ... Owens Bottle ... - 76 74 75% 74% Raybestos Mfg. 19 178% 19 Foods— Am Sugar 60% 59% 60% 59% Armour (A> 6% 6% 6% 6% Beatrice Cream’y 17 15% 17 15% Borden Prod 26% 25% 26% 25% Cal Packing .. 31% 30 31% 30% Can Dry G Ale.. 23 21% 23 21% Coca Cola 125 124 125 ... Cont Bak (A).. 10 9% 10 ... Corn Prod 68% 65% 68% 65% Crm of Wheat . 33 32% 33 32% Cuban Am Sugar 7% 7% 7% 7% Gen Foods .... 32% 32% 32% 23% Gold Dusts 20% 19% 20% 19% G W Sugar 31% 30 31% 29% Hershev ... ■ 59% Int Salt 29% 29 % Loose Wiles .... .. 40% 40% Natl Biscuit 36% 35% 36% 35% Natl D Prod 18% 17% 18% 17% Purity Bak 13% 12% 13% 13 S Porto Rico S 34% 32% 34% 32 Vi Spencer Kellog 21 20V4 21 Std Brands 20% 20 20% 20 Un Biscuit .... 25% 25% 25% . United Fruit ... 76 74% 76 74 Wrigley ... 63 62% 63 Retail Stores— Ass Dry Goods. . ■ 12% ... Best &Cos -■ 31 % 31 31% 30% First Natl Stores 63% 62% 63% 62% Gimbei Bros 4'% ... Gimbel pfd .. 23 Gr Un Tea . 6% 6 6% .. Hahn Dept Sts. 5% 5% 5% 5% Kresge S S 18% 18 18% 18% Kroger Groc ... 31 30% 31 30 Macy R H 43% 41 43% 40% Marshall Fields. 16% 15% 16% 15 May Dept St. .. .. 86%

THE INDIANAPOLIS TIMES

Mont Ward ... 28% 25% 28% 257a Natl Tea 13% 13% 13% ... Penny J C ... 57% 54% 57*% 54% Safeway St. ... 49*% 48% 497a 48% Sears Roebuck .. 43% 40% 4378 40% Woolworth 50% 49% 50% 49% Aviation— Aviation Corp .. 7% 7 7*/ 4 7 Curtiss Wright . 3% 3% 3% 3% Curtiss Wght A 11% 10% 11% 10% Douglas Air .... 22*4 227a 22 20% Nor Am Av .. 47a 4% 4% 4% Speery Corp ... 9% 9 9% 9 United Aircraft 22 21 22 20'% Wright Aero ~ 53% 53 53% 51 Chemicals— Air Reduction .. 97'% P4’% 96'% 04% Allied Chem ...138% 133% 138% 133** Am Com Alco. 37% 35*4 37% 34% Col Carbon 707a 16% 70% 66% Com Solvents .. 24'% 22% 24% 22% Dupont 90% 85 90 85 Freeport Tex ... 41'% 39'% 41’% 40 Liauid Carb .... 30 28 297 s 27'% Math Alkali .... 31% 30 31% 30% Mcntosonta Chm 44'% 44 44 44 Natl Dis (new). 27 25% 27 25% Schenelev Dist. . 31% 29 30 28% Tex Gulf Sulph. 35% 34 35% 337a Union Carbide .. 41% 40% 41% 39'% U S Ind A1c0.... 42% 40% 42% 417a Drugs— Cotv Inc 5% 5% 5% 5'% Lambert 28 27% 28 27 % Lehn Fink .. 21% Un Drug 16% 16% 16% 16 Zonite Prod .... 5% 5% 5% 5% Financial— Adams Exp ..... 9'/a 8% 9 8% Allegheny Corp . 278 2% 27a 2% Am Int Corp.... 87a 8% 87a B’% Chesa Corp .... 45% 44'% 45% ... Lehman Corp ... 68% 67% 68% ... Transamerica... 6% 6% 3% 6'A Tr Conti Corp.. 4'% 4% 4% 4'% Building— Am Radiator.... 14'A 13'% 14% 13% Gen Asphalt ... 19% 19'/a 19% 18% Int Cement .... 25 23% 25 23 Johns Ma'nville 51% 48% 48% 487a Libyb Owens Gls 31% 29% 31% 29% Otis Elev 16'/a 15'% 16% 15% Ulen Const 2'% ... Household— Col Pal Peet... 147a 13% 147a 13% Congoleum .... 27'% 26'% 27'A 26% Kelvinator 19'% 18% 19 18% Mohawk Carpet. 19% 18 19% ... Proc & Gamble. 34% 33'% 34% 3.1% Simmons Bed.. 17'% 16*% 17’% 16% Textiles— Amer Woolen... 117a 11% 11% ... Belding Hem .. 13 12% 13 Celanese Corp.. 26% 24'A 261% 24% Collins Aikman 18'% 18 18'% 17% Gotham Hose .. 8% B'/a 8% 7% Indus Rayon ... 25% 24% 25'A 24% Kayser Julius .17 Real Silk 10 97e 10

New York Curb (By Abbott, Hoppin & Cos.) —June 8— Close. Close. Allied Mills B%!Dow Chem .... 92 Alum Cos of Am 7% El Bond & Sh.. 16 Am Beverage... 1% Fisk Rubber ... 13% Am Cyan B ... 18% Ford of Can A.. 21% A& F Pwr War 5% Ford of Europe. 8 Am Gas & E 1... 26% Gen Aviation .. 4% Am Superpwr.. 2% Glen Alden Coal 17 Ass Gas & El.. % Gulf Oil of Pa.. 68% Atlas Corp ... 11% Lone Star Gas.. 6 Axt Fish Tob .. 59% Newmont Min .. 51% Brazil Tr & Lt. 9% Nia Hud Pwr... 5% Can In Ale A.. 12 Novadel Agene . 21% Can Marc 2% Penn Road ..... 2% Carrier Corp ..8 3t. Regis Paper. 3% Cities Serv .... 2'% Sal Crk Prod... 6% Comm Ed 49 Sherwin Wms .. 67 Cons G of Balt 64 Std of Ind 27% Cord Corp 5 Std of Ky 16% Creole Petrol .. 13 Technicolor Ind 11 Deere & C 0.... 13 Teck Hughes Gd 6% Distil Lim .... 22',i Un Pwr & Lt A 3 Distillers Corp. 17 Wrght Harg Min 10 U. S. GOVERNMENT BONDS (By United Press) / NEW YORK, June B.—Closing Liberitles (Decimals represent thirty-seconds); —Liberty—3'/is (32-47) 103.28 Ist 4Vis (32-47) 103.28 4th 4Vif (33-38) 103.28 —Treasury—--4%s 3'/ 4 s (45) 103.15 4Vi s (47-52) 112.12 3%s (43-47) 104.15 3%s (41-43) March 104.27 3 3 4s (40-43) June 104.31 3 (is (43) 104.29 3%S (46-49) 101.28 3s (51-55) 100.21 FEDERAL FARM LOAN BONDS (By Blvth & Cos.. Inc.) —June 8— 4s Nov. 1. 1957-37 100 V*' 101 4s Mav 1. 1058-38 100 U 101 4'is July 1. 1956-36 100'i 101 4Vis Jan. 1. 1957-37 100% 101 4'is May 1. 1957-37 100% 101 4'is Nov. 1. 1958-38 101 4%s Mav 1. 1942-32 100'A 101 4%s Jan. 1. 1943-33 100‘A 101 4Vis Jan. 1. 1953-33 100’A 101 4%s July 1. 1953-33 100 Vi 101 4Vis Jan. 1. 1955-35 100'/* 101 4%s Jan. 1. 1956-36 101 4%s July 1 1953-33 100 *A 101 4%s Jan. 1. 1954-34., 100'A 101 4Vis July 1. 1954-34 100'A 101 5s Mav 1. 1941-31 101 103 5 s Nov. 1. 1941-31 101 102 —Home Loan—--4S July 1. 1951 101.13 101.17 —Federal Farm Mortgage Corporation—3'As March 15. 1964-44 101.28 101.32 The two latter quotations are in thirtyseconds.

New York Bank Stocks (By Abbott. Hoppin & Cos.) —June 8 — Bid. Ask. Bankers 63 Vi 64 Brooklyn Trust 112 115 Central Hanover 130 131 Chase National 29Vi 30 Chemical 41 41*4 National City 28 Vi 29 Corn Exchange 52 Va 53 Continental 13% 14 Empire 19 _ 19 Vi First National 1.685 1,700 Guaranty 367 390 Irvi.ig 17Vi 17% Manhatten & Cos 31Vi 31% Manufacturers 22% 23 New York Trust 104 Vi 105 Vi Public 34 Vi 35 Vi REPORT MANUFACTURED GOODS NOT EXCESSIVE Survey Shows Consumption Running Slightly Ahead of Production. By Times Special WINCHESTER, Mass., June 9. The quantity of manufactured goods on hand at the present time is not excessive, according to a recent study by the Winchester Institute of Finance. Figures indicate that goods are being consumed slightly faster than they are produced. There has been a steady improvement in this respect since September of last year. On the other hand, there is no danger of a shortage of manufactured goods, at least not until our national purchasing power is further increased. This same study shows a different story on raw materials stocks on hand, for they are larger than they normally should be. The partial control of crude oil production has resulted in limiting oil supplies, but there are large stocks on hand of most all other raw materials. That is one reason the Washington administration is so insistent in its efforts to reduce agricultural production. Births Girls Raymond and Catherine Grady. 427 N. Warman. Truman and Ora Cron. 510 Buchanan. Gus and Mary Ford, city hospital. Frederick and Dassie Esch, city hospital. Eugene and Viola Padgett, city hospital. Charles and MKdred McDonald, city hospital. James and Mable Connor, city hospital. John and Marie White, city hospital. Walter and Ethel Arthur, city hospital. Jesse and Marv Fink, city hospital. William and Lillie Groce city hospital. Thurman and Anna Carbon, city hospital. Richard and Dorothy Berkley, city hospital. Boys John and Elvera Coleman, 1647 S. Dela- " Walter and Ruth Wright city hospital. John and Ruby Linkhart. city hospital. Frank and Lelia Watkins, city hospital. Clifford and Pearl Lyle, city hospital. Deaths Dorothy Gene Moore. 2 days. Riley hospital. intra cranial hemorrhage. Louise Taylor. 21. Long hospital, acute myocarditis. . . , Joseph Reeves. 58. Central Ind. hospital, hypostatic pneumonia. . , William F. Mincer 50. Methodist hospital. ruptured appendix. Matilda Hermanni. 60. St. Vincent hospital. cirrhosis of liver. Frank Crandall. 70. 624 S. Missouri chronic myocarditis. James Edward Bonnell. 64. 314 N. Keystone. cerebral hemorrhage. John F. Johnson, 75. 2622 West 16th. angina pectoris.

SWINE PRICES ADVANCE DIME AT STOCKYARDS Lamb Market 25 to 50 Cents Lower; Cattle, Veals Steady. Strong undertone of the last two days was carried over in the hog market at the Union Stockyards yesterday and prices were generally 10 cents higher than Thursday’s. Receipts were estimated at 8,000, the lowest number for the last several days. Initial trading developed slow and demand was fairly active. The bulk, I£D to 200 pounds, was selling at $3.35 to $3.65. Porkers weighing from 200 to 250 pounds were salable at $3.75 to $3.80, while 250 to 300-pounders sold at mostly $3.85. Several better grade weights sold up to $3.90. Heavy weights from 300 to 350 pounds brought $3.70 to $3.75, while 250 to 300-pounders sold at mostly $3.85. Several better grade weights

sold up to $3.90. Heavy weights from 300 to 350 pounds brought $3.70 to $3.75, while light kinds, scaling 130 to 160 pounds, cashed in at $2.35 to $2.85. Extremely small classes weighing 100 to 130 pounds brought $1.60 to $2.10. Packing sows sold at $2.25 to $3. Holdovers, 347. Cattle prices continued mostly unchanged in a week-end cleanup trade. Only few odd lots were salable. Receipts numbered 300. Veal market remained steady, selling mostly at $4.50 down. Tfcp held at $5. Receipts were 700. A sharp decline featured trading in the lamb market, with the general run around 50 cents lower and yearling grades mostly 25 cents under yesterday’s close. Bulk of lambs sold at $8 to $8.50, while few yearlings held at $7.25. Fat sheep sold at $1 to $2. Receipts were 800. Asking on hogs at Chicago was strony to slightly higher than Thursday’s average, with no early bids on heavyweights evident. Receipts were estimated at 20,000, including 8,000 directs; holdovers, 4,000. Cattle receipts were 2,000; calves, 1,000; market unchanged. Sheep receipts numbered 5,000; market unchanged. Bulk. Top. Receipts. June 1. $3.40@) 3.65 $3.70 10,000 2. 3.40(5! 3.60 3.60 4,500 4. 3.35®) 3.60 3.65 9.000 5. 3.25®) 3.50 3.60 11.000 6. 3.15(5) 3.35 3.60 8.000 7. 3.25® 3.55 3.80 7.500 8. 3.35@ 3.65 3.90 8,000 Market Higher (140-160) Good and choice ..$ 2.60® 2.85 —Light Weights—-(l6o-1801 Good and choice.. 3.35® 3.45 (18C-200) Good and choice.. 3.35® 3.65 —Medium Weights—-(2oo-220) Good and choice.. 3.70® 3.75 (220-250) Good and choice.. 3.75® 3,85 —Heavy Weights—-(2so-290i Good and choice.. 3.85® 3.90 (290-350) Good and choice.. 3.70®) 3.85 —Packing Sows—(2so down) Good 2.85® 3.15 (250 lbs.) Good 2.50® 3.00 (Ali weights) Medium 2.25® 2.85 —Slaughter Pigs—-(loo-130) Good and choice .. 1.60® 2.10 CATTLE Receipts, 300; 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 (675-750) 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® 2.50 VEALERS Receipts, 700; market, steady Good and choice $ 4.00® 5.00 Medium 3.00® 4.00 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 CattleGood 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, 800; market, lower. (Shorn basis) Spring lambs $ 6.50® 8.50 (90-lb. down) Good and choice 7.50® 8.00 90-100-lb.) Good and choice. 7.00® 7.50 (500-lb. down) Com. and med. 5.70® 7.00 —Ewes— Good and choice 1.50® 2.75 Common and medium .75® 2.00

Other Livestock (By United Press i CHICAGO, June B.—Hogs—Receipts, 20,000; including 10,000 directs; market active, fully steady, with yesterday; 250-310 lbs.. [email protected]; top, $3.85; 200-240 ibs., $3.50(83.75: 170-190 lbs., $3.15-3.50; light lights, $2.75(83.15; pigs, $3.25 down; bulk packing, [email protected]; light lights, 140-160 lbs., good and choice, [email protected]; lightweights. 160-200 lbs., good and choice, s3@ 3.60; medium weights. 200-250 lbs., good and choice, $3.40(83.85; heavyweights. 250350 lbs., good and choice, [email protected]: packing sows, 275-550 lbs., medium and choice, $2.60(83.25; slaughter pigs, 100-130 lbs., good and choice, $1.50(82.50. Cattle —Receipts, 2,000; calves, 1,009; no reliable outlet here for strictly good to medium weighty and weighty steers due to lack cf shipper outlet' bulk supply locked up Thursday still in first hands; sellers refusing to accept yesterday's decline; several loads on local accounts. $7.35 odwn to $6.25; these being lightweight steers; all lower grades and general run butcher stock fully steady; steers, 550-900 lbs., good and choice. $5.50(8 8.25: 900-1,100 lbs., good and choice, $6(89.25; 1,100-1,300 lbs., good and choice, $6.50(810; 1,300-1,500 lbs., good and choice, $7.25(810; 550-1,300 lbs., common and medium, $3.50(87.25; heifers, 550-750 lbs., good and choice. $5(86.50; common and medium, $2.75(80: cows, good, [email protected]; common and medium. $2.65(8 3.50; low cutter and cutter, [email protected]: bulls, yearlings excluded, good beef. $2.75 (83.50; cutter, common and medium. s2@ 3: vealers. good and choice. $4(85: medium, $3.50@4; cull and common, $2.25® 3.50: stocker and feeder cattle: Steers, 500-1,050 lbs., good and choice. $4(85.50; common and medium, $2.75(8.4. Sheep— Receipts, 5,000: generally steady; good to choice spring lambs, $8®8.50; bulk to go out, ss@6; yearlings scarce; aged ewes around sl®2; slaughter sheep anl lambs; Spring lambs, good and choice, $7.35® $8.75; medium, $6®7.35; ewes, 90-150 lbs., good ana choice, $1.50@2; all weights, common and medium, [email protected]. FT. WAYNE. June B.—Hogs—Steady to 10c higher: 250-300 lbs., $3.75; 200-250 lbs., $3.65: 180-200 lbs., $3.45: 160-180 lbs., $3.30; 300-350 lbs., $3.30; 150-160 lbs., $2.65; 140150 lbs.. $2.40; 130-140 lbs., $2.15; 120-130 lbs., $1.90; 100-120 lbs., $1.65; roughs, $2.25 @2.50; stags. sl. Calves, $4.50; lambs, SB. LAFAYETTE, June B.—Hogs—Market, 10c higher; 250-300 lbs., $3.70; 210-250 lbs.. $3.10(8 3.65: 190-210 lbs., [email protected]: 110190 lbs., [email protected]: 150-170 lbs., $2.60® 3.10: 130-150 lbs., [email protected]: 100-130 lbs.. [email protected]; roughs, $2.75 down; top calves, $4; spring lambs, $7.50@8. (By Times Special) LOUISVILLE. June B.—Cattle—Receipts 100; salable supply slaughter classes light; quality plain; market draggy, steady 4o weak as compared with recent days; bulk common to- medium steers and heifers, [email protected]; nothing included of value to sell above $5; strictly good dry fed yearlings Quotable to around $6; bulk beef cows, $2.25@3; top on good dryfeds $3.50; low cutters and cutters, sl(®2; sausage bulls, $2.75 down; most light hereford stockers, [email protected]. Calves—Receipts, 300; steady; mostly $4 down; fe wstrictly choice $4.50. Hogs—Receipts, 10.000; weights from 185 lbs. up and sows 5c higher; others steady; 185-275 lbs., $3.75; 275 lbs. up, $3.05; 160-185 lbs., $3; 145-160 lbs., $2.65; 120-145 lbs. $1.75; sows, $1.60. Sheep—Receipts, 2,000: run mostly trucked in spring lambs with one double deck Tennessee rail lambs included; market not established; indications steady or largely $8.25 for bulk better trucked in ewe and wether springers and up to $8.75 for choice longhaul overnight and rail kinds; fat ewes quotable mostly sl®2; stock ewes ss@7 per head. Union Backs Nazi Boycott By United, Press CHICAGO, June B.—The International Ladies Garment Workers union today voted a rigid boycott of German-manufactured goods and anti-Hitler crusade.

Chicago Stocks “(By Abbott, Hoppin & Cos.)

(Total sales, 48,000 shares.) —June 8— High Low Close. Abbott Lab 50% Acme Steel Cos 39 38 39 Adams Royalty 3 Allied Products 14'% 13 14% Altorfer Bros 20 Am Pub Serv pfd 10% 10% 10% Berghoff 7'% 6% 7% Bastian-Blessing 5% 5% 5% Bendix Aviation 16% 15% 16% Borg-Warner 23% 22% 23% Butler Bros 10’A 9% 10% Cent 111 Pub Serv pfd.. 16% 16 16% Cent Ind Power pfd 7% Cent Pub Util Cent & So West PL pfd }£% Chi & Northwestern... 10% 9% 10% Chicago Corp com .... 2’A 2% 2 A Chicago Corp pfd .... 26% 26 26% Chicago Yellow TSab 14% Cities Service 2% Commonwealth Edison . 50 48 49% Cord Corp 5 4% a Crane Cos 9'A 8% 9 A Crane Cos pfd ?5 Electric Household .... 15% 15% 15% Gen Household Ut 13% 12 13% Goldblatt Bros 17% 17% 17% Great Lakes Aircraft... 18*% 18 18% Houdaille Hershey B .. 4 Iron Fireman 16% 15% 16% Katz Drug 35 Libbv McNeil 6 5% 6 Lynch Corp 34% Marshall Field 16% la% 16% Merchants & Mfrs (A) 2 Mickelberry’s Food Pr 1% Middle West Utilities % Noblitt-Sparks Indu Inc 13% 12% 13% No Amer Light & Pwr 2% 2% 2% Northwest Bancorporatn 3'% 3'A 3% Penn Gas & Elec 16'% 15 16'% Prima Cos 8 Public Service 17 Public Service N P ••• 17% Quaker Oats 112 111 112 Reliance Mfg Cos 15'% 15 15% So West ® &, E pfd 59 Stutz Mot Car Cos of A , 3% Swift &Cos 17 16% 17 Swift Internacional .... 30% 30 30% Thompson. JR 7*,4 7% 7% Utility & Ind 1

On Commission Row —June 8— —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-at. crate. s2® 2.50; Premiers, $2.50@4. Cantaloupes—California. Pony crate. $2.50; lumbos. 455. $3.75; standards. $3.25; Honevdews. $2.50. Pears—Calavos. $4 per box Pineapples—Guba, $3.25®3.75. Bananas—Per pound. sc. —Vegetables— Sweet Corn—Louisiana, 6-dozen crate, [email protected]. .. Caboage—Tennessee, pony crate. si.zs. Ce i er y—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. Cr Asparagus—Home grown, dozen. 60c@ $1 25 Beans—Round, stringless. $1.25. 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, sue. Iceberg best, s4®s a crate. Peas—2 B-lb. hampers. $2.50. Radishes—Home grown buttons. 35c a d °Rhubarb—Home grown, dozen, 30c. <?ninarh Home grown, bushel, lac. Tomatoes—Repacked. 10-lb carton. $1.25; original Texas. 30-lb. lug. $2.25. CHICAGO FRUIT MARKET (United Press) Chicago June B.—Apples—Michigan Sp'ies 1 $2.25®2.50 bushel. ern 90c bushel. Spinach—lllinois, 3 5 @65c bushel. Beans-Southern green, $L25®2 bushel hampers; wax, bers—Central western p °_ us^ (2 dozen to box *- Tomatoes Texas $ . fn 140 lue box. Sweet potatoes lennes see $2 fushel' hampers. Mushrooms Illinois 10®55c (lb. cartons). Asparagus —lllinois, 90c® $1.15 box. Strawberries - Michigan. $1.50@2 (16 quarts . Omo market (50-lb. sacks): Texas, yellow SL4O & 1.50: Texas, white, camor nia, whites, [email protected].

Produce Markets Delivered in Indianapolis orlces: Heavy hens 10c; Leghorn hens, 8c; 1934 broil ers l'i lbs. and over, 18c; Leeti°rn. broiler* 1% lbs. and over. 15c: bareback broilers. 12c: old roosters. 3c; ducks and Beese. 3c, young guineas, IV2 to 4 ids. -sue. old guineas. *sc; No. 1 strictly tresh countrv run eggs, los off 10*/fc<S)llc. Each full case must ewigh 5 lbs. er°ss: a deduction of 10 cents a pound for each pound under 55 lbs. will be made. Butter—No. l. 27(1/28c; No. 2. 25@26c. Butterfat. 20c. Quoted by Wadlev Company. (By United Press) CHICAGO. June B.—Eggs—Market firm; receipts 19.318: extra firsts. 15%c, fresn graded firsts, 15'/*c: cu ” ent N r n ecel 2 pts i 1 l|? 14c: dirties. N<x 1. 12c; No. 2. , U/ac, checks. No. 2. 12c; No 2 11c. Butter Market firm: receipts 15.086 extra nrsts score) S 2 C 2°'A e ®22%f; 23^bof5 S s tS iB6-87% speefais 21 (, 24%®^c eXtra Poul 9 trv SC - e Market SIT’ iacfnght: ll%c; tr g U ees S e: teVVdters! colored. 18c: barebacks. 16®18%c ducks. ers* 1 17 c* C iover ® 1 % \bf If btherflight. 14c; c < T 13 %(u 14c: daisies. Hemand°anil Old stock: Supply moderate: demand and sfs SSSY’tSSjs* erat'e- demand and trading slow, &SBi tlV slS eC *3. f ? r on track. 271: shipments. 532. NEW YORK. June 8 — ? otat 9? o S .n bb” 111 Sweet* gasket. Easier? 1 _ 13®23Vic; chickens B®3lc, broilers, _ sstssss? .rsetr kaSTU. k± ss-.ar'mS. ‘ssjsuss®: seMndt C 22 centralized scores) 24: centralized 'BB-89 s , c %lV 2 Eggs centralized (84-87 score), 22%(fi23c. Eggs —Receipts 15,741 cases; njarket firm, special packs, includuing unusual hennery 14%c; dirties. 14%c; checks. 14c; storage packs, 17'Ac. CLEVELAND, June S.-Butter-Martot steadv- extras. 28c; standards, 28c. Eggs—Market Steady; extra white 14c; current rpr'Pints 13V oc Poultry—Market, steady. colored 5 fowl. C 6 lbs. an{ up H®lsc; Legborn fowl 3% lbs. and up. 13c, broilers colored ordinary. 23@24c; okl roosters, 9c; ducks, white. 5 lbs. and up. 14 gLPotatoes —South Carolina. $3.25®3.50 per bbL CINCINNATI. June B.—Butter —Packing stock No 2. 17c: butterfat. 20c EggsSteady; extra firsts. 14c; seconds, 12 2c, nearb'v ungraded, 13%c. Live poultry Fowlsf 5 lbs. and up, 13 c: V e 8 b and up, 10c; roosters, 5%; 1934 colorea broilers. 1 lb. and up, 19c: ducks, under 3 lbs., sell at liberal concessions, ducks white 4 lbs. and over, 8c; No. 1 turkey young hens, 8 lbs. and over, and young toms, 10-15 lbs., 13c. According to the latest calculations, the sun averages about 92,870,000 miles from the earth.

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Vortex Cup Cos 14% 14 14% Walgreen Cos, com 28% 28 28% Zenith Radio 3 U.S, ELECTRIC POWER OUTPUT INCREASES Nation’s Production Rises 7.8 Per Cent in Year. By Times Special CHICAGO, June 9.—Production of electric power throughout the nation last week continued sharply ahead of the output figures reported last year. The nation’s output in the previous week totaled 1,575,828,000 kilowatt horns, compared with 1,654,903,000 hours in the preceding week, according to a weekly report by the Edison Electric Illuminating institute. This was an increase of approximately 7.8 per cent over the previous year against an advance of 10.8 per cent shown in the preceding week. In the Chicago metropolitan area output totaled 91,639,000 kilowatt hours, against 85,050,000 in the comparable period of 1933. This increase amounted to 7.7 per cent, as compared with 8 per cent in the previous week. Kilowatt hours used by A Century of Progress for the first full week of operation this year showed an increase of 12 per cent as of that in the previous year.

PEOPLES BANK TO PAY 30 PER CENT DIVIDEND Suit Against Six Indemnity Companies Pressed by Receiver. By Times Special CHICAGO, June 9.—The Peaples National Bank and Trust, according to W. W. Pearson, receiver, has started distribution of a 30 per cent dividend to depositors. The total payment is estimated to be about $1,000,000 Suits against six indemnity companies for $185,000 allegedly misappropriated by tne former vicepresident of the bank is being pressed by Mr. Pearsoi. The former vice-president wa, 2 convicted of this charge a short time ago and was sent to prison. Notices will be sent to the depositors by the bank informing them when they can call for their funds. Mr. Pearson stated that the prospects for further distributions would depend entire y upon the real estate market. food index Increases Raise of 3 Cents During Last Week Is Recorded. By Times Special CHICAGO, June 9.—A raise of 3 cents during the week of June 5 in the weekly food nidex was reported by Dun & Bradstreet. The food index price is now $2.14, as compared to $2.11 for the previous week and $1.87 for the same week a year ago. The index for the latest week is only 1 cent below the year’s peak of $2.15, recorded on March 6. TELEPHONES INCREASE Associated Bell Companies Install 44,000 Phones in May. By Times Special CHICAGO, June 9.—The Associated Bell companies, controlled by the American Telephone and Telegraph Company, report continued monthly gains since last September. The company added 44,000 telephones in May, and this followed a net increase of 48.000 stations in April and a total gain for the first quarter of 108,000 telephones. REO"SHIPMENTS ARE UP May Sales Three Times Greater Than Year Ago. By Times Special LANSING. June 9.—The Reo Motor Car Company*shipped 2,517 passenger cars and trucks during May, well over three times as many units as were shipped in May of 1933. Truck shipments to June 1, passed the figures for the entire year of 1933. Orders on hand indicate a continuation of steady increases over last year in shipments of both passenger cars and trucks.

S AVINGS ' GENERAL BANKING * TRUSTS A Branch near you 4 12 CONVENIENT LOCATIONS NORTH SIDE EAST SIDE 1541 North Illinois St. 2122 East Tenth St. 3001 North Illinois St. 500 East Washington St. 1533 Roosevelt Ave. 2506 East Washington St. 6235 Guilford \ve. 5501 East Washington St. SOUTH SIDE WEST SIDE 1125 South Mercian St. 474 W'est W ashington St. 1233 Oliver Avenue 2600 West Michigan St* MEMBER * Federal Deposit Insurance Corporation jfletcher QTtust (Company jV. IT. Corner Pennsylvania and Market Sts .

.JUNE 9, 1934

CONTINUED DRY WEATHER NEWS BOOSTSWHEAT Heavy Rains Over Canadian Grain Belt Fails as Market Factor. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, June 9.—Soaking rains filtered through the baked sod in drought ridden Canadian wheat provinces yesterday to break the prolonged drought but the news fell flat as a market factor in grain pits on the Chicago Board of Trade. Wheat finished U to % cent higher, corn was up % to % cent, and oats were % to % cent higher. An early price recession in wheat carried the principal grain about half a cent lower early but the break was followed by a rally which shoved prices around VA cents outside. Strength in Winnipeg and continued dry weather in the American spring wheat belt had considerable influence in bringing about the upward movement. Much attention also was paid to the action of Liverpool, which closed % to Vs cent higher. Drought reports from Australia were a factor in influencing the English market. Local professionals again were on the buying side of the Board of Trade in corn and prices averaged higher in the face of reports of heavy rains in some sections of the belt. There was relatively little precipitation in much of the central west, however, and further complaints of chinch bug damage were received. Provisions advanced, in sympathy with the smaller run in hogs.

Chicago Futures Range (By United Press) —June 8— Wheat— Prev. Open. Hiqh. Low. Close, close. July .. .97% .99% ,96% .97% .97% Sept. . .98% 1.00% .97% .98% .98% Dec. ..1.00 1.01% .99% 1.00% 1.00 Corn— July .. .55% .56% .55'/* .58 .55% Sept. . .57% .58% .57% .57% .57% Dec. .. .58% .59% .58% .59% .58% Oats— July .. .42% .44 .42% .43% ..43 Sept. . .42% .44 .42% .43% .42% Dec. . .44 .45% .44 .44% .44 Rye— July .. .62 .64% .62 .62% .62% Sept. . .63% .66'.* .63% .65% ,64% Barley— July ~ .51% .52% .51% .52% .51% Sept. . .63% .66% .63% .65% .64% Barley— July .. .51% .52% .51% .52% .51% Sept. . .52 .53 .52. .52% .51% Lard— July . 6.45 6.55 6.45 6.55 6.40 Sept. .6.65 6.82 6.65 6.80 6.67 Oct. .6.75 6.90 6.75 6.87 6.75 Nov i . 6.95 6.82 Dec 7.12 6.90 7.12 6.92 Bellies— July 8.85 8.75 Sept 9.10 9.00

Cash Grain

INDIANAPOLIS —June 8— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, basis 41 Vi New York rate, were: Wheat—No. 1 red, 90@91c; No. 2 red, 88(®89c; No. 2 hard, 88@89c. Corn—No. 2 white, 56@57c; No. 3 white, 55(8 56c; No. 2 yellow. 51 Vi<Bs2Vic; No. 3 yellow. 50Vi@51Vic; No. 2 mixed. 50*2® 51 Vic: No. 3 mixed. 49Vi@50Vic. Oats—No. 2 white, 39@40c; No. 3 white, 38® 39c. Hay—(f. o. b. country points taking 23 Vic or less rates to Cincinnati or Louisville) No. 1 timothy, [email protected]. —lnspections Wheat—No. 1 red, 2 cars; No. 2 red, 2 cars. Total, 4 cars. Corn —No. 2 white, 1 car; No. 3 white, 3 cars; No. 2 yellow, 9 cars; No. 3 yellow, 5 cars; No. 4 yellow. 4 cars. Total, 22 cars. Oats—No. 2 white, 2 cars; No. 3 white, 2 car. Total. 4 cars. (By United Press) CHICAGO, June B.—Cash Grain: Wheat —No. 1 hard, weevily. $1: sample hard, weevily. 91%c: No. 1 northern, $1.00%. Corn—No. 2 mixed. 57Vic: No. 2 yellow. 57%(a 58c; No. 3 yellow. 57Vic; No. 4 yellow. 57c. Oats—No. 2 white. 44U@44%c; No. 3 white 42c; No. 4 white. 42Vic. Rye— No sales. Bariev—Bs(B 90c; auotable. 55c® sl. Timothy—sß® 8.50. Clover Seed—slo.2s® 14. Cash Provisions—Lard. $6.52; loose. $5.85; leaf. $5.87: bellies. $8.95. TOLEDO. June B.—Grain close: (Grain in elevators, transit billing.) Wheat—No. 2 red. sl.oo*2® 1 01* i. Corn—No. 2 yellow. 59Vi@60'ic. Oats —No. 2 white. 47*/2® 48*20. Rve—No. 2—67®68c (Track prices. 28 1 2 c rate.) Wheat—No. 1 red. 97®97>2C; No. 2 red. 96®:96Vhc Corn —No. 2 yellow. 55Vi®56c; No. 3 yellow. 54*2®55*2c: No. 4 yellow. 53Vi@54Vic. Oats—No. 2 white. 44®45*/2C: No. 3 white. 43Vi®45c. Seed close; Clover. Cash. $8.25. Alsike —Cash, $8.25. ST. LOUIS. June B.—Cash grain: Wheat —ln fair demand.. V4c lower on red and *ic higher on hard; No. 2 fed. 97 1 1 @9Bc; No. 3 red, 98c; No. 2 hard. 98% nominal. Corr. —In good demand. 1 to lVic higher: No. 2 yellow. 60c; No. 3 yellow. 59*ic; No. 4 yellow. 59c. Oats—ln fair demand, unchanged: No. 2 white. 44Vic: sample white grade. 43c. CHICAGO PRIMARY RECEIPTS —June 8— Bushels. Today. Last Week. Wheat 549.000 611.000 Corn 419.000 436.00* Oats 112.000 191.000 Local Wagon Wheat City grain elevators are paying 87 cents tor No. 2 soft red wneat Otnar grades on their merit,*