Indianapolis Times, Volume 46, Number 30, Indianapolis, Marion County, 15 June 1934 — Page 32

PAGE 32

Wall Street Senator Glass Redeems Himself as Friend of Financial Area. BY RALPH HLNDLKSHOi

limes Special Financial Writer SENATOR GLASS of Virginia has redeemed himself in large measure in Wall Street’s estimate. In years gone by the Street had felt it could count on the scrappy senator as a friend, but after his efforts in connection with the banking act of 1933 it was ready to hang him on the spike, along with some of the other ant i-

Wall Street 1 e g i slators in Washington. But the Street was thankful for the fight he put up to have the new securities exchange control act administered by a sep a r ate com mission instead of by the federal trade co m-

EPinL J3SI . mm

Ralph Hendershot

mission, which has been a thorn in the side of financial leaders for years. Not that many people in the financial district expect much of a break from the commissioners to be appointed by President Roosevelt, but they console themselves with the thought that Presidents come and go and that the next one may be a little more lenient. And the personnel of the commission is of vital concern to Wall Street. It will have much more latitude than is generally supposed in making rules and regulations governing trading on the various exchanges, and the difference between a friendly and an unfriendly commission means a great deal to the financial community. There is probably not and house in the Street which would not willingly lend its senior partner to Washington to serve as a commissioner without pay. Many of them would make it an outright gift and throw in part of their commissions as well. nan INCIDENTALLY, the boys in Washington seem to have no little sport at the expense of the Street in connection with a guess which was made as to who were likely to be named commissioners. An NEA Service, Inc., copyrighted dispatch from the Capitol made the following comment: “Some of Wall Street’s ideas as to composition of the five-man board President Roosevelt will select to administer the stock market act are greeted here with nothing less than ribald laughter. Roosevelt mentioned them facetiously when he said reassuringly that he hadn’t thought about selecting the five.” The truth of the matter is that the names mentioned were not of Wall Street selection. They came from Washington over the private brokerage wires. But Wall Street falls for that kind of stuff, and it was not long before the “news” was being flashed all over the financial district. A local newspaper gave it a big “play,” apparently without making the usual check, and the “huge” joke came into being. tt tt NO little confusion seems to exist in the minds of the experts with respect to steel operations in this country. The magazine Steel reported an increase in operations last week; the Iron Age, another authoritative publication, came along a day or two later with reports of a drop, and now Dow 7 , •Jones & Cos. report a gain. One is justified in wishing that they would make up their minds. The trend of steel operations is important in gauging the business outlook in general and the effect of the strike threat on the trade. N. Y. Coffee, Sugar Futures COFFEE —June 14— —Santos—- . Hißh. Low. Close. March 11.06 10.90 10.92 May 11.14 10.36 11.00 July 10.50 10.96 10.31 September 10.86 10.70 10.70 December 11.00 10.78 10.83 —Rio— January 811 March 8.43 8.16 8.16 Ma,V 8.51 8.26 8.26 July 8.20 8.00 8.00 September 8.11 8.00 8 00 December 8.33 8.05 8.06 SUGAR High. Low. Close. January 1.78 1.77 1.77 March 1.83 1.82 1.83 May 1.88 1.87 1.88 July 1.60 1.53 1.60 September 1.67 1.65 1.67 December 1.76 1.75 1.76 In the Cotton Markets —June 14— CHICAGO Hieh. Low. close. January 12.53 12.42 12.42 March 12.63 12 55 12.55 July 12.12 12.01 12.01 October 12.39 12.22 12 22 December 12.48 12.37 12.37 NEW YORK January 12.46 12 35 12 35 March 12.58 12.46 12.47 May 12.65 12.54 12.54 July 12.06 11.94 11.94 October 12.31 12.19 12 19 DecembeT 12.41 12.30 1230 NEW ORLEANS January ’ 12.31 March 12.52 12.51 12.51 May 12.60 12.54 12.54 July 12.05 11.96 11.96 October 12.29 12.17 12 17 December 12.40 12.27 12.27 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. 2a 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(3:5.75 Indiana egg [email protected] Indiana mine run 5.0005.25 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 eoaL and SI a ton for coal carried to bin N-ORGE SALES INCREASE Business in First Five Months of Year Up 244 Per Cent. By Timet Special CHICAGO, June 15.—Norge Corporatian refrigerator sales in the .Chicago district in the first five months this year increased 244 per cent over the same period last year, according to John H. Knapp, vicepresident. Sales in the entire nation during that period of time increased 30 per •cent over the corresponding period in 1933. The Sampson Electric LjCompany is distributor in Chicago. Bilk, i

STOCK SHARES DISPLAY FIRM TRADINGRANGE Advance Ranges to More Than 2 Points After Early Decline. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 15*—’The stock market was firm and dull in the early afternoon trading today. Gains ranged to more than 2 points. Dupont reached 91, up 2Vi\ United Carbon, 4514, up 2Vs, and Johns Manville, 53%, up 2Vi. The oil section was higher and relatively active. Food shares were in moderate demand on belief destruction of grains and other commodities by the drought would result in higher prices. Standard Brands was bid up a point while National Dairy Products rose fractionally. Steel common was at 42, up a point; American Can, 9714, up IV4; Standard Oil of New Jersey, 46 3 i, up 3 i; Standard Oil of California, 364, up l 3 s; General Motors, 32:4, up 1, and Chrysler and R. H. Macy, 42, up 1. Money and Exchange INDIANAPOLIS BANK CLEARINGS —July 15Clearings $2,015,000.00 Debits 4.930,000.0 C FOREIGN EXCHANGE (By Abbott, Hoppin & Cos.) —June 14— Close. Sterling. England .$5.04 Franc. France 0660% Lira, Italy 0861% Belgias. Belgium 2340 Mark, Germany _... .3806 Guilder, Holland 6788 Peseta, Spain 1370 Krone, Norway 2537 Krone, Denmark 2255 Treasury Statement (By United Press) WASHINGTON, June 15.—Government expenses and receipts of the current fiscal year to June 13. compared with the corresponding period of the previous fiscal year: This Year. Last Year. Expenses $6,611,640,440.89 $4,844,145,866.31 Receipts. $2,872,342,509.24 $1,834,425,356.82 Deficit . $3,739,297,931.65 $2,959,720,509.49 Cash Bal $1,925,119,761.20 Investment Trust Shares (Bv Abbott. Hoppin & Co.i —June 14— Bid. Ask. American Bank Stocks Corp..s 1.14 $ 1.17 American & General Sec A... 4.50 5.50 American & Inv Tr Sh 1.75 Basic Industry Shares 3.35 3.40 British Type Inv Tr Sh 44 .50 Collateral Trustee Shares A . 4.65 4.75 Corporate Trust Shares (old). 2.13 2.17 Corporate Trust Shares (new) 2.33 2.37 Cumulative Trust Shares 4.05 4.10 Diversified Trust Shares A ... 6.25 Diversified Trust Shares B ... 7.75 7.87 Diversified Trust Shares C 3.10 3.14 Diversified Trust Shares D 4.75 4.87 First Insurance Stock Corp... 1.23 1.27 First Common Stock Corp 67 .70 Fixed Trust Oil Shares A 8.30 .... Fixed Trust Oil Shares B 7.30 ... Incorporators Investments 17.75 19.75 Land Bank Bond Shares 1.18 1.31 Low Priced Trust Shares 6.10 6.20 Mass Inv Trust Shares 18.96 20.61 Nation Wide Securities 3.35 3.40 North Am Trust Shares (53).. 1.90 1.95 North Am Tr Shares (55-56).. 2.36 2.39 North Am Trust Shares (58).. 2.35 2.40 Selected American Shares . 2.59 .... Selected American Shares Inc. 1.18 1.27 Selected Cumulative Shares .. 6.68 Selected Income Shares 3.48 4.00 Std American Trust Shares A 2.91 2.96 Trust Shares of America 2.71 2.76 Trustee Std Oil A 5.75 5.87 Trustee Std Oil B 5.75 5.40 U S Electric Lt & Pwr A 15.50 13.60 Universal Trust Shares 3.10 3.70 New York Bank Stocks (By Abbott. Hoppin & Cos.) —June 14— _ , Bid. Ask. Bankers 62 62% Brooklyn Trust 11l 114 Central Hanover 129 Vi 130 Vi Chase National 27% 28% Chemical 40% 40% National City 28 28% Corn Exchange 52 52% Continental 13% 14% Empire 19% 19% First National 1710 1720 Guaranty 371 373 Irving 17V4 17% Manhattan & Cos 31' 4 31 Manufacturers 21% * 22% New York Trust 107% 108% Public 3414 35 Daily Price Index (By United Press) NEW YORK, ’une 14. Dun & Bradstreet’s daily weighted price index of thirty basic commodities compiled for the United Press: (193011932 Average 100) Today $112.95 Yesterday 113.00 Week ago 112.11 Month ago 108.05 Year ago (June 15) 91.42 1934 high (June 12> 113.37 1934 low (.Tan. 3) 101.05 (Copyright. 1034. bv Dun & Bradstreet, Inc.)

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

Electric Bono and Share Company declares the regular quarterly diviends of $1.50 a share rn the $6 preferred stock and $1.25 a share on the $5 preferred stock. Glidden Corporation May sales amounted to $2,922,286 against $2,595,020 in May, 1933. an increase of 12.6 per cent. For seven months ended May 31, sales amounted to $16,682,986 as compared with $12,321,232 in the corresponding period a year ago, representing an increase of 35.4 per cent. United Light and Power Company ana subsidiaries report for twelve months ended April 30 shows a consolidated net income of $1,212,966 after charges, equivalent to $2.03 a share on the 6(>0,000 shares of S6 preferred stock outstanding. This compares with $2,663,322 or $4.13 a share on the preferred stock in the previous twelve months. Gross income during the period amounted to $71,846,549 as compared with $73,263,268. Census bureau announces cotton consumption during April amounted to 519,765 bales against 512,703 bales in the similar 1933 months. Consumption in ten months ended April 30 totaled 4.977.772 bales against 4.839.493 bales in the corresponding period of the preceding year. REFINANCING PLAN OF I. C. TO BE CONTINUED New Ruling Requires Assent from 80 Per Cent of Holders. By Times Special NEW YORK, June 15.—Possibility for the Illinois Central railroad system to go ahead with its refinancing plan-for $20,000,000 in 4V 2 per cent notes due June 1, was made possible this week when the interstate commerce commission ruled that the plan will require the assent of only 80 per cent of the noteholders. Originally a ruling had been set by the commission that all noteholders must give their assent before the plan could become operative. The Illinois Central reports more than 80 per cent already have consented. The plan calls for a Reconstruction Finance Corporation loan of $7,500,000 to make a cash payment under the terms of the plan, which called for a cash payment of 37 1.2 per cent and the remainder in notes. Cadillac-La Salle Sales Up By 1 imes Special DETROIT, June 15. Sales of Cadillac-La Salle cars during May reached anew 1934 peak. Deliveries during the month exceeded April by 3.2 per cent, and May last year by 107 per cent, according to J. C. Chick, general sales manager.

New York Stocks ““• IBy Abbott Hoppin & Cos.)

AVERAGE STOCK PRICES FOR THURSDAY Net High. Low. Close, change Thirty industrials 98.49 96.92 97.15 —1.60 Twenty rails 45.24 44.60 44.69 .86 Twenty utilities 24.46 23.88 23.98 —.45 Forty bonds .... 9483 same Ten first rails •••• 101.56 —.15 Ten second rails .... •••• 82.14 t.OB Ten utilities •••• 98.56 —.09 Ten industrials .... .... 97.06 —.13 + Up; -Off.

—June 15— Prev. Oils— High. Low. Close, close. Amerada .. ... ... 53 Atl Rfg 26 Barnsdall 7% 7% Consol Oil 1074 10% C’ont of Del 19% 20% 1 Houston inew) 37* (Houston (old) 21% i Mid Cont Pet 13”* I Ohio Oil 1214 12V* I Pet Corp . 11% Phillips Pet 18% 18% Plymouth Oil . 1274 1214 Pure Oil 1074 10% 10% 10% Royal Dutch 35% Sbd Oil 33% Shell Un 8% 8% Skelley Oil 10 Soc Vac 161* 16 1614 1674 S O of Cal 3514 S O Os N J 46 46 Sun Oil 6274 Texas Corp 25% Tidewater Assn 13 13 Un Oil of Cal 16% Steels— Am Roll Mills 1874 19 Beth Steel 33% Col Fuel & Iron .. 674 Cruc Steel - 25 25 Inland Steel 4074 McKeesport Tin 87 7t Mid Steel 1314 Natl Steel 41% 41*4 Otis Steel .. 574 Rep Iron & Stl 1714 Rep Iron & Stl p 48% U S Pipe & Fdy 24V* 24V* U S Steel ... 40% 4014 40% 41 U S Steel pfd 87 V* Warren Bros 9% Youngstn S & T 207* Motors— Auburn 2574 25% 25% 26’4 Chrysler 42% Gen Motors . 317* 31% 3174 31% Gen Motors pfd. . . . ... 102 Graham Mot .... 2% Hudson 12 1174 11% 117* Hupp 37* 3% 3% 3% Mack Truck 277* Nash 17% Packard 374 3% Reo 3% Studebaker 4% Yellow TruclC 4V* Motor Access— Bendix 15% 15% Bohn Alum ... . 5574 Borg Warner 2374 23% Briggs ' 1774 Budd Wheel 3% Eaton Mfg 17% Elec Auto Lite.. 22% Houdaille A 4% .. . Mullins Mfg 11% Murray Body 7% Stew Warner 7% Timken Roll 29% Timken Det Axel 7 7% Mining— Alaska Jun ... ... 19% Am Metals ... ... 23% Am Smelt ... 41 41% Anaconda 1574 1 574 Cal & Hecla 4% Cerro De Pasco 37% Dome Mines 4274 Granby 11 Gt Nor Ore 1174 11% Howe Sound .... 53 53 Int Nickel . .. 2674 26% 26% 26% Kennecott Cop .22 2174 217* 22 Mclntyre Mine ... ••• 48% 4874 Noranda Cop .... ... .. 44 Park Utah 4Vi 4% Phelps Dodge .. 17 U S Smelters .12674 12674 12674 1 27% Vanadium ... 22% Amusements— Crosley Radio 15% Fox Thea 147* Loews Inc 31% Radio Corp 774 7% RKO 2% Warner Bros 6 6 Tobaccos— Am Sum Tob ... 18 Am Tob ‘A’.... ... . ■ 71 Am Tob B .73 74 73 74 73 74 73 V* Ligg & Myers B • ... ... 97 Lorillard . . .■• . 18'4 Reynolds Tob B 4574 45% 45% 46% Rails— Atchison ... 5874 Atl Coast Lines 41 B & O 24'4 2474 Can Pac 15% 15% Ch & Ohio 47 CM&StP *5 C M & St P pfd.. 874 8 874 8% Chi N W 10 10 Chi N W 1774 Dela & Hud 53 Del Lac & W 23% Grt Northern pfd 2% 21% 111 Central 26 K C Sou 14 Lehigh Valley 16 Lou & Nash 54’i M K & T pfd 23% Mo ac .. ... 3% 3% Mo Pac pfd- 6 N Y Cent ■ - 30 N Y Chi &St L 29% 29% 29% . N Y New Haven 15% 15% Norfolk & West 180 Nor Pac . 25 Penn R R 30% 30% Sou Pac 24% 2474 24% 2474 Sou R R 26 % 26 % Sou R R pfd 3274 Union Pac 124% Equipments— Allis Chalmers 16% Am Brake Shoe 26 V* Am Car & Fdy 2174 22 Am Car & Fdy p 4274 Am Loco pfd 527* Am Mach & Fdy 15% Am Steel Fdy 1674 17 74 Bald Loco ... 11 % Bald Loco pfd.. .. . ... 45 Burroughs .... 14 13% 14 14 Case J I 52% 5374 Cater Tract ... 27 Deere & Cos ... ... 20 74 Elec Stor Bat 43 43% Foster Wheeler.. .. ... ... 15% Gen Am Tk Car 38% Gen Elec 20% 2072 Gen R R Sig ... 3574 34% 34% 35 Ingsol Rand ... 60% Int Bus Mach 137 Int Harvester 3274 Natl Cash Reg . .. Pullman Inc . . 5172 Rem Rand 1074 10% 1074 10% West Air B • • 27 Westingh Elec . 37% 37 74 3 774 3 774 Worthington Pm .. ... ... 227s Utilities— Am & For Pwr 8% Am Power & Lit ... 774 AT&T 115% Am Wat Wks 19% 19% Brook Un Gas 66% Col Gas & Elec 13% 15 Com & Sou ... 2% 27* Consol Gas 33 74 33% Elec Pwr & Lit 6 E P & L pfd 1474 Int Hydro Elec 7 Int T & T 13% 1374 Lou G & E A 17% Nat Pwr & Lit 10 North Amer 17% Pac G&E 1874 Peoples Gas 3374 Postal Tel pfd 20% 21 Pub Serv N J 36% 36% So Cal Edison 16 16% Std Gas 11’ . Std Gas pfd 12% Stone & Webster 874 874 United Corp ... 57a 5% Un Gas Imp 1674 Ut Pwr & Lit A 37* Western Union 46% Rubbers— Firestone 18% Goodrich 13% Goodyear 28% 29 U S Rubber 1974 19% U S Rubber pfd 48 Miscellaneous— Am Bank Note 2074 2074 Am Can ... 9574 95 95 96 Anchor Cap .... ... 20% Brklyn Man Tr . 3874 387* Conti Can .... 7874 77% 7874 78% Crown Cork 27 Curtis Pub pfd ... 80% Eastman Kodak 96% Gillette 10% Glidden 25% 25 % Inter Rapid Tr 8% Owens Bottle 78 Foods— Am Sugar ... 61 60% Armour "A” 67* Batrice Cream 1674 Borden Prod 2674 2674 Cal Packing 31% Canada D G Ale 22 Coca Cola 12474 Cont Bak A 974 Corn Prod 67 '4 Crm of Wheat 32% Cuban Am Sug 7% Gen Foods . ... 32% 3274 327* 327* Gold Dust ... 20 G W Sugar 32 31% Int Salt 30 V* Loose Wiles 39% Natl Bisciut 35% Natl D Prod 18 17% Purity Bak 14 S Porto Rico Sug .. 34 74 • • Std Brands ... 20 1874 20 1974 Un Biscuit 25% United Fruit 73 74 Retail Stores— Ass Dry Goods 13 13 First Natl Stores .. ... ... 6474 Gimbel Bros 4 Gr Un Tea 674 Hahn Dept Sts 5% Kresge S S 18% 18% Kroger Groc 31 Macy R H 41 Marshall Fields 15% 16% May Dept St ... . 37% Mont Ward 27% 27% 2774 27% Penny J C 58% Safeway St 5174 51% Sears Roebuck 43 4374 Woolworth 50% 5074 Aviation— Aviation Corp . . 674 Curtiss Wright A 1074 il Curtis Wright 374 Douglas Air 21% Nor Am Av 474 4% Speery Corp 97* 97 4 United Aircraft 2074 2074 207 * 20% Wright Aero ... 5574 Chemicals— Allied Chem 13974 Am Com Alcohol 3774 37% Col Carbon 72 Com Solvents 2374 2374 DuPont 8874 88% 887* 8874 Freeport Tex ... 3774 37 37 37% Liquid Carb 29 Math Alkali 32 Montoson Chem. ••• ••• 46%

, THE INDIANAPOLIS TIMES

Natl Dis (new) 25V 4 26'* Scheneley Dist.. 29 74 2974 29 74 277* Tex Gulf Sulph 34% 33% Union Carbide ... ... 42 41% U S Ind Alcohol 4374 Vir Chem 6% pf 16 Drugs— Coty Inc 574 Lambert 2774 27% 27% 28% Lehn & Fink 21% Un Drug 16% Xonite Prod 5% Financial— Adams Exp 9% Allegheny Corp 274 Am Int Corp 9 Chesa Corp ... 44% 4574 Lehman Corp 67 74 . Transamerica 6% 6% Tr Conti Corp .... 4% Building— Am Radiator 14 14 Gen Asphalt 18% Int Cement 27'/* Johns Manville ... 51% Libby Owens Gls ... 317* Otis Elev 15% Household— Col Pal Peet ..... ... 1574 157* Congoleum 277* Kelvinator 1874 18% Proc & Gamble 34', 2 Simmons Bed ..... ... 16% 16% Textiles— Amer Woolen .... ... 1174 ... Belding Hem 13 Celanese Corp .... ... 2674 2674 Collins Aikman 17% Gotham Hose . 87* Indus Rayon 25 2 574 Kayser Julius 17 17 New York Curb (Bv Abbott. Hoppin & Cos.). —June 14Close. Close. Allied Mills ... 8741 Gulf of Oof Pa 66%: Alum Cos of Am 66%iHiram Walker . 3774 Am Beverage j*' 2 IHud Bav Min. 1374 Am Cyanide B 17% Humble Oil 45 Am G & El ... 25%|Imperial Oil Ltd 15 Am Superpwr,. 2%'lnt Petrol 2874 Ass G & El ... 7*!Lake Sh Min... 52% Atlas Corp .... 117* Lib McN Lib .. 6 Brazil Trc &Lt 97*(Lone Star Gas. 5% Can Marc 274 Natl Bell Hess 374 Cities Serv . . 2%|Newmont Min . 513/. Consol Gos Bit 64 jNia Hud Pwr .. 574 Cord Corp 4% Novadel Agene . 2172 Creole Petrol .. 1274 Park Davis .... 24% Cwn Cork Int.. 67*(Penn Road 274 Deere & Cos 20%15t Reg Paper.. 374 Distillers Corp. 167*iSherwln Wms.. 677 2 El Bnd & Sh... 15741 Std of Ind 2774 Fisk Rubber ... 1174!Std of Kv 1574 Ford of Can A 2174 1 Technicolor Ind 1374 Ford of Europe 8 ITeck Hugh Gold 6% Glen Aid Coal 17 lUn Gas 274

Chicago Stocks - • (Bv Abbott. Hoppin & Co.)—— —

—June 15High. Low. 11:30. Berghoff 8% 8% 8% Bastian Blessing 5% 5% s'/ 4 Bendix Aviation 16V* 15% 16'/* Borg Warner 24V* 24 24% E. L. Bruce Cos . .. 10 Butler Bros 10 9% 9% Chicago Corp com .... 2% 2% 2% Chicago Corp pfd .. 26% Cities Service 2% 2% 2% Commonwealth Edison. 54% 52 54% Cord Corp 4% 4% 4% Crane Cos 9% Electric Household .... 15'* 15% 15% Gen Household Ut 12'% 12% 12% Libby-McNeil 6 Noblitt-Sparks Ind Inc .. ... 13% Parker Pen ". ... 9 Prima Cos 8 Public Service N P 17% 17% 17% Swift &Cos 17% 17% 17% Swift Internacional 30% Thompson J R . . 6% Vortex Cup Cos 13% 12% 13% Walgreen Cos com 28% 28% 28% Zenith Radio 3

Bond Prices ’Bv Fenner & Beane)’—"” 1

—June 15— High. Low. Close. Alleg Corp 5s ’SO 39% 39 39% Am&For Pwr 5s 2030 53% AT&T db 5s ’65 108% Atchison gen 4s '95 102% B&O cv 4%s ’6O . 66% Can Pac 4s 83 82% 83 ChMStP&P adj 5s A 2000 14 13% 14 ChMStP&P rs 5s A '75 . 43 42% 43 Cons Gas NY 4Vis 'sl 104% Denmark 5%s ’55 89% Erie RR rs 5s ’67 .. 75 Goodyear 5s ’57 99% 99V* 99% Gt Nor 4Vis D '76 77% 77% 77% Gt Nor 7s A ’36 95 94% 94% Interboro RT 5s '66 70 69% 70 Int T & T db 5s ’55 ... 66% 66% 66% Lorillard 7s ’44 .. 122% McKess & Robb 5%s ’SO 83 s * 83% 83% Nat Dairy db 5V 4 s ’4B . 97% 97V* 97Vs Penn RR 4*48 D ’Bl 97’* Shell Un Oil 5s ’47 98% Texas Corp 5s ’44 103 102% 102% Tob Pr NJ 6%s 2022. ... 106 Un Pac Ist 4s ’47 106% 106 106 US Rubber 5s A ’47 86% Vanadium 5s ’4l ... 82 Western Un 5s ’sl 86% 86% 86% Ygstwn S&T 5s B ’70... 84 83% 83% U. S. GOVERNMENT BONDS (By United Press) NEW YORK, June 14—Closing Liberties. (Decimals represent 32nds.) —Liberty—--3 Vis (32-47) 104.1 First 4%s (32-47) 102.27 Fourth 4%s (33-38) 103.23 —Treasury—--4 %S, 3%s (45) 103.28 4 Vis (47-52) 113.12 3%S (43-47) 104.24 3%s (41-43) March 105.6 3%s 140-43) March 105.8 3%s (43) 105.5 3%S (46-49) 102.8 3s (51-55) 101.11 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —June 14— Bid Ask 4s Nov. 1, 1957-37 100% 101% 4s May 1, 1958-38 100% 101% 4%S July 1, 1956-36 100% 101’ 4 4Vis Jan. 1, 1957-37 100% 101*% 4%s May 1, 1957-37 100% 101 Vi 4%s Nov. 1, 1958-38 101’% 4%s May 1, 1942-32 100% 101% 4%s Jan. 1, 1943-33 100’% 101% 4Vis Jan. 1, 1953-33. 100% 101 4’/is Julv 1. 1953-33 100% 101 4Vis Jan. 1. 1955-35 100% 101 4Vis Jan. 1. 1956-36 101% 4%s July 1, 1953-33 100 100% 4%s Jan. 1. 1954-34 100 100% 4%s July 1. 1954-34 100 100% 5s May 1, 1941-31 101 101 s * 5s Nov. 1. 1941-31 101 101% —Home Loan—--4s July 1. 19ffL 101.03 101.08 —Federal Farm Mortgage Corporation—--3 Vis March 15. 1964-44 101.20 101.26 The two latter quotations are in thirtyseconds. STEEL OUTPUT AGAIN REACHES NEW HIGH Increase Is Attributed to Contract Deadline. By Times Special CHICAGO, June 15.—For the second time during the current year steel output last week advanced to 61 per cent of capacity. The increase is attributed greatly to the boost in operations to meet the delivery deadline on second quarter contracts. Pig iron shipments from the Chicago district this month are expected to more than double those of May, according to the Iron Age. Steel ingot output in the Pittsburgh district last week soared to a new high for the year by raising three points to 52 per cent of capacity. A similar increase was made in the valley district where operations were carried to 66 per cent of capacity. A rise of one point was evident in the Philadelphia district where operations reached 46 per cent. So far the steel labor situation has failed to show any great influence on scrap prices, it was reported. Food Prices Higher By Times Special NEW YORK, June 15. Retail food prices up to date average approximately 16 per cent above a year ago, with producers prices around 14 per cent higher. The American Institute of Food Distribution reports.

SWINE VALUES STEADY TOIO CENTSHIGHER Cattle Market Strong and Unchanged; Veals Even at $6 Down. Porker prices passed the $5 mar 1 : in moderate trading at the Union Stockyards today. Following the sharp increase of the previous session, the majority of classes were steady to mostly 10 cents higher than yesterday’s average. Receipts were around normal and demand continued strong. The bulk, 160 to 200 pounds, was selling at $4.90 to $4.95, while medium grades weighing from 200 to 300 pounds, brought $5. Passes $5 Mark Extremely heavy kinds, scaling 300 to 350 pounds, were salable at $4.80 to $4.90. Initial top held at $5.05. Bulk of light grades weighing 130 to 160 pounds, sold at $3.75 to $4.25. Small slaughter pigs, scaling from 100 to 130 pounds, cashed in at $3 to $3.50. Packing sows held at $3.25 to $4. Receipts were estimated at 6,500; holdovers, 416. Initial trading in the cattle market continued strong with yesterday’s average. Most sales were on classes of odd lots. Few choice steers sold from $5.75 to $7.75, while best heifers brought $6.50. Receipts numbered 400. Vealers remained unchanged, with the general run selling at $5.50 to $6. Early top held at $6. Receipts were 700. Lamb Prices Steady. Trading developed slow in the lamb market and practically all grades held stationary. Bulk of all classes sold at $8.50. Top was $9. Throwouts ranged from $6 to $6.50, while fat ewes brought $1 to $2.50. Receipts were 500. Asking was slightly higher on hogs at Chicago, with no early bids evident. Receipts were estimated at 16,000, including 6,000 directs; holdovers, 1,000. Cattle receipts numbered 3,000; calves, 800; market unchanged. Sheep receipts were 5,000; market stationary. June. Bulk. Ton. Receipts 9. $3.35® 3.65 $3.90 2,000 11. 3.6C@ 3.80 4.05 6.000 12. 3.85® 4.00 4.15 7.000 13. 4.25® 4.35 4.50 5.500 14. 4.80® 4.90 5.00 4.000 15. 4.90® 4.95 5.05 6,500 Market, Higher (140-160) Good and choice ...$ 4.00® 4.25 —Light Weights—-(l6o-180) Gand and choice ... 4.85® 4.90 (180-200) Good and choice .. 4.90® 4.95 —Medium Weights—-(2oo-220) Good and choice ... 5.00 (220-250) Good and choice .. 5.00® 5.05 —Heavy Weights—-(2so-290) Good and choice ... 5.00® 5.05 (290-350) Good and choice .... 4.80® 5.00 —Packinrr Sows—-(2so-down) Good 3.75® 4.10 (250 lbs.) Good 3.50® 4.00 (All weights) Medium 3.25® 3.75 —Slaughter Pigs—-(loo-130) Good and choice ... 3.00® 3.50 CATTLE Receipts, 400; market, steady. Good and choice $ 6.00 ®9.00 Common and medium 4.00® 6.55 < 1.100-1.500) Good and choice 7.25® 9.25 Common and medium 5.50® 7.50 (675-750) Good and choice 5.25® 6.75 Common and medium 3.00® 5.50 (750-900) Good and medium 5.25® 6.75 common and medium 3.50® 5.25 —Cows— Good 3.50® 4.25 Common and medium 2.50® 3.50 Low cutter and medium 1.25® 2.50 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 $ 6.00® 6.00 Medium 3.50® 5.00 Cull and common 2.50@ 3.50 —Calves— Good and choice 4.00® 5.50 Cohimon and medium 2.50® 4.00 —Feeder and Stocker Cattle— Good and choice 4.25® 6.75 Common and medium 3.00® 4.25 (800-1.5001-Good and choice [email protected] Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 500; market, steady. (Shorn Basis) Spring lambs, good and choice $ B.oo® 9.00 (500-lb. down) com. and med. 6.00@ 8.00 —Ewes— Good and choice 1.50® 2.50 Common and medium ....... .75® 2.00 Other Livestock 'By United Press CHICAGO. June 15.—Hogs—Receipts, 16,0(40, including 6,000 directs; uneven mostly steady to 10c lower than yesterday; early, $4.90; 200 lbs. up mostly $4.6564.75: 170-210 lbs.. $4.25®4.65; pigs, $3.25 down; packing sows. $3.50® 3.90; light lights. 140-160 lbs., good and choice, s3.7s<fi 4.25; light weights, 160-200 lbs . good and choice. $44(4.60: medium weights, 200-250 lbs., good and choice, [email protected]: heavy weights, 250-350 lbs., good and choice, [email protected]: packing sows, 275-550 lbs., medium and choice, $3.15@4: slaughter pigs. 100-130 lbs., good and choice, $2.256 3.75. Cattle—Receipts. 3,000; calves, 800; most classes steady; not enough wellfinished steers offered to make a market: bulls a shade higher; vealers firm: best, 1,271 lbs, steers, $8.25; Montana hay fed. [email protected]; heifers. $6.50 down; heavy Holstein bulls, $3.50; selected vealers. $64/6.50: slaughter cattle and vealers. steers, 550-900 lbs., good and choice, $5.75 4/8.50: 900-1,100 lbs., good and choice. $6.50® 9.50; 1,100-1.300 lbs.. good and choice. s7® 10.25; 1.300-1,500 lbs., good and choice. $84*10.25: 550-1,300 lbs., common and medium, $3,504/8: heifers. 550750 lbs., good and choice. [email protected]; common and medium. $34/5.50: cows, good. $44/5; common and medium. s3®4: low cutter and cutter, $1,754/3; bulls (yearlings excluded) good (beef). [email protected]; cutter, common and medium. $2.254/;3.50: vealers, good and choice, $5®6.50; medium, $4475; cull and common. s3®4; Stocker and feeder cattle, steers, 5501,050 lbs., good and choice. $4.25®5.50; common and medium. $364.25. Sheep— Receipts. 5.000; spring lambs in active demand, fully steady to stronger, sorts considered; yearlings and aged sheep little changed: native springers. $8.75 to mostly $9; best held [email protected]; asking around $7.25 for best yearlings: aged ewes, sl4/2.25; slaughter sheep and lambs, spring lambs, good and choice, $8.25® 9.15; medium. $6.75®8.25: ewes. 90-150 lbs., good and choice. $1.506 2.25: all weights, common and medium. 75c®51.75. FT. WAYNE, June 15.—Hogs—10®20c higher; 250-300 ibs„ $4.90; 200-250 lbs., $4.80; 180-200 lbs., $4.65; 160-180 lbs., $4.55; 300-350 lbs., $4.50; 150-160 lbs., $3.65; 140-150 lbs., $3.40; 130-140 lbs., $3.15; 120-130 lbs.. $2.90; 100-120 lbs.. $2.65; roughs. $3.25; stags. $1.50. Calves, $6; lambs, $8.25. LAFAYETTE, June 15,—Hogs—Market, steady to 15c higher: 225-300 lbs., $4,804/: 4.85; 180-225 lbs.. $4.7064.75: 160-180 lbs., $4.50® 4.60: 140-160 lbs.. $3.75®4; 120-140 lbs.. $3.256 3.50, 100-120 lbs.. $2.756 3; roughs. $4.25 own; top calves, $5; lambs, $7.50®8. (By Times Special) LOUISVILLE, June 15.—Cattle—Receipts, 200, including 73 billed direct; salable supply light; quality plain; mostly she stock; moderately active and fully steady; bulk common to medium steers and heifers salable. s4@s: very little included of quality to sell above $5.50; strictly good dryfed yearlings quotable to $6.25 or better; bulk beef cows. [email protected]; good dryfeds to $3.75 and above; low cutters and cutters. $1®2.25; sausage bulls. $3.25 down; stockers and feeders absent. Calves —Receipts. 400; vealers fully steady: bunc better vealers, $4.50@5: medium and lower grades. $4 down. Hogs—Receipts, including 119 direct; steady: 185-275 lbs., $4.90: 275 lbs. up. $4.20; 160-185 lbs.. $4; 145-160 lbs., $3.65: 120-145 ibs.. $2.25; sows, $2.75. Sheep—Receipts. 2,800: run includes about seven decks of Tennessee rail lambs and sizable quota of trucked in springers: market not established; most bids about steady; bididng, $8.50 for bulk better trucked in ewe and wether springers and up to $9 for most choice longhaul overnight and rail lambs; fat ewes, sl6 2; stock ewes quotable mostly $54/7 a head. Sales Increase Reported By Times Special CHICAGO, June 15. American Stores Company reports sales in five weeks ended June 2 amounted to $11,231,864 as compared with $10,363,100 in the corresponding period a year ago, representing an increase of 8.3 per c&t.

Indiana Crops Suffer Heavily From Drought

Conditions in May Reported at 50 Per Cent Below Normal. By United Press LAFAYETTE, Ind., June 15.—Indiana crops suffered heavily from drought and hot weather during May, and in most'cases conditions are as low as 50 per cent normal, the United States department of agriculture experiment station at Purdue university reported today. Prospects for the winter wheat crop showed considerable variation. The southwestern Indiana crop is in better than average condition, and those in south and central sections are nearly average. The northern regions suffered most heavily from the lack of rain, wheat stands being thinned by winter killing and heading short. Corn Prospect Good June 1 prospects showed a yield of 14.5 bushels an acre, and a total production of 23,673,000 bushels compared with 22,344,000 bushels in 1933. The five-year average is 27,401,000 bushels. Asa whole, the corn crop is clean and a large part of the acreage is in excellent position to respond to rain, the report said. Rye conditions is listed at 66 per cent, or 14 per cent below normal. A yield of eleven bushels an acre and a production of 1,221,000 bushels was indicated on June 1. The 1933 yield was 1,890,000 bushels. The oats crop is expected to be approximately 40 per cent normal, or 35 points below average, the report showed. Many fields will not be used for grain, conditions as of June 1 indicated. Barley is reported at 46 per cent normal. Hay Crop Short The hay crop is short as a result of the drought, and was reported at 49 per cent normal on June 1. Lack of rainfall in April and May halted the growth of hay in all sections of the state. Stocks of hay are low, the report showed, and in many cases are exhausted. Pasture condition was reported at 50 per cent, the lowest on June 1 in the history of the state. The fruit crop is expected to be short, apples being reported only 30 per cent normal, against an average of 60 per cent. Peaches are 10 per cent normal because of the winter killing, and pears 42 per cent normal. Produce Markets Delivered In Indianapolis prices: Heavy hens, 10c; Leghorn hens, 8c; 1934 broilers 1% lbs. and over, 18c; Leghorn broilers 1% lbs. and over, 15c; bareback broilers, 12c; old roosters, 3c; ducks and geese. 3c; young guineas, 1% to 3 lbs., 20c; old guineas, 15c; No. 1 strictly fresh country run eggs, loss off 10%@llc. Each full case must weight 55 lbs. gross; a deduction of 10 cents a pound for each pound under 55 lbs. will be made. Butter—No. 1, 27®28c; No. 2. 25626 c. Butterfat. 20c. Quoted by Wadley Company. (By United Press) CHICAGO, June 15.—Eggs—Market, steady; receipts, 15,614 cases; extra firsts, 15%c; fresh graded firsts. 15Uc; current receipts, 23%6 13%c; dirties. No. 1. 12c; No. 2. 11c; checks. No. 1, ll%c; No. 2, 11c. Butter—Market, steady: receipts. 15.577 tubs; extra firsts (90-91% score). 23 @23%c; firsts (86-87% scorei, 22®22%c; seconds (86-87% score). 21®21%c; extras 192 score), 24’ic; specials, 24%@25%c; standards. 24’ 4 c; centralized (89 score). 23c: centralized (88 score), 22%c. Poultry —Market, firm; receipts, 45 trucks. 1 car; Leghorn hens, 8®10c; broilers, 19®22c; Leghorns, 14%6 17%c; fryers, Plymouth Rock, 25c; springers, 26c; spring geese, 13c; turkeys, 14c; old ducks, 74/9c. Cheese —Twins, 13%@13%c; Longhorns, 13%® 14c; Daisies, 13%®14c. Potatoes—Old stock, supply moderate; demand and trading light: market, dull; Idaho russets, $1.354/,i.40: combination grade, $1.10; new stock, supply moderate; demand and trading moderate; market weaker; Alabama Triumphs. $1.50® 1.60; Louisiana Triumphs. $1.5061.65; Arkansas Triumphs, $1.5561.60; Oklahoma Triumprs, $1,504/) 1.60; Louisiana long whites, $1.60. Arrivals, 115: on track, 216; shipments. 1.400. NEW YORK, June 15—Potatoes—Steady; Southern, $1.35®2.88 barrel; Maine, sl.lO 4/2.40 barrel. Sweet potatoes—Steady; Jersey basket. 50c4/$2.25. Flour—Quiet; springs: patents, $7.2567.50 barrel. Pork —Quiet; mess, $20.25 barrel. Lard—Firm; middle west spot, $4.40®4.50 per 100 lbs. Dressed poultry—Firm; turkeys, 136 27c; chickens, 86 31c; broilers, 234/31c; capons, 254/35C; fowls, 114/17c: duels, 134/14c; Long Island ducks, 14%@15c. Live poultry —Steady; geese, 6@7c; turkeys, 116:17c; roosters, 8c; ducks, B®l2c; fowls, 12615 c; capons, 22c; broilers. 106 27c. Cheese— Easy; state whole milk fancy to specials. 184/ 19c. Eggs—Receipts, 13.510 cases; market, irregular; special packs, including unusual hennery selections. 18%6 21%c; standards, 17%618c; firsts, 16c; seconds. 156 15%c; mediums, 144/14’ 4 c; dirties, 14%c; checks, 13%c; storage packs, 16%4/,16%c. Butter—Receipts. 11,283 packages; market closing firm; creamery, higher than extras, 25)44/26c; extra 192 score), 24%%25c; first (90-91 scorei. 24% 4/24%c; first (88-89 score), 23%4/24c; seconds, 22%4/23 , / 4 c; centralized (90 score), 24%c; centralized (88-89 score), 23%4/24c: centralized (84-87 scorei, 22%4/23’/ 4 c. CLEVELAND, June 15.—Butter—Market, steady; extras, 28c; standars, 28%c. Eggs —Market, steady; extra white. 14c: current receipts, 13%c. Poultry—Market, firm; colored fowl. 6 lbs. and up, 136 14c; colored fowl medium, 13®14c; broilers ;olored ordinary. 22623 c; old 9c ducks, white. 5 lbs. and up. 14® 15c. Potatoes—North Carolina [email protected] per bbl. On Commission Row —June 15— —Fruits— Apples—Fancy Winesaps. $2.25®2.35. Cherries—Home grown. 24-qt. crates. $2 ®2.50. Oranges—California. Sunklst, $5®5.75; Valentias, [email protected]. Lemons—Sunkist, $8; Red Ball, SB. Grapefruit—Florida seedless. $3.75@4. Strawberries—Home grown. 24-qt. crate, $2.5063; southern, $5. Raspberries—Southern Indiana red. 24pt. crate. $4, black. $3®3.50. Cantaloupes—California Jumbos, 455. $4.25: standards, $3.75; Honeydews, $2.50 Pears—Calavos. $3.50 per box. Pineapples—Cuba. [email protected]. Bananas—Per pound. sc. —Vegetables— Sweet Corn —Louisiana. 5-dozen crate. $2 25 Cabbage—Tennessee, pony crate, $1.40. Celery—Florida, $5.50 a crate: jumbo bunch, 90c; medium bunch, 75c. Onions—*Texas yellow, 50-lb. bag, $1.85. Potatoes—Northern round white, 100-lb. bag, $1.75; Maine Green Mountain, $1.90; Colorado McClures, $2; Idaho Russets, 100lb. bag, $2; new Texas Triumphs, $2. Sweet Potatoes—Tennessee Nancy Hanks, hamper. $2.40. Asparagus—Home grown, dozen. 65c® $1.25. Beans—Round, stringless, $1.75@2. Beets—New, 45c a dozen. Carrots—California. 6-dozen crate. $3.25; bulk, new, $1.60. Cauliflower—California, $2.75. Lettuce—Outdoor. 15-lb. basket. 90c: Iceberg best. $4.50 a crate. Peas—lndiana, [email protected]. Radishes—Home grown buttons. 35®60c a dozen. Rhubarb—Home grown, dozen, 30c. Spinach—Home grown, bushel. 75c. Tomatoes—Hothouse, 10-lb. carton, 90c @sl; original Texas. 30-lb. lug. $2 CHICAGO FRUIT MARKET (By United Press) CHICAGO, June 15.—Apples—Michigan Spies, $26 2.25; Illinois Transparents, $1.7562.50 bushel. Carrots —Southern, $2,354/2.50 crates. Spinash—lllinois, 156’ 50c bushel. Cucumbers—Central western hothouse. 90c6;51.50, 2 dozen to box. Tomatoes —Texas, sl®l.lo lug box. Sweet potatoes—Tennessee, $1.30®2 bushel hampers. Mushrooms —Illinois, 15640 c, pound ■cartons. Asparagus—lllinois, 75690 c box. Strawberries—Michigan. $1.2562.50. 16 quarts. Onion market, 50-lb. sacks—Texas yellows, [email protected]; Texas whites, $1.40 @1.50.

1 ropica* I'wo-Piece Suits s** * ifikt m^smm

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Cash Grain

INDIANAPOLIS —June 14— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b. shipping point, basis 41% New York rate were; Wheat—weak; No. 1 red. 884789 c; No. 2 red, 87@88c, No. 2 hard, 87@88c. Corn—Firm; No. 2 white. 57%%58%; No. 3 white, 56%@57%c No. 2 ye How. 53%654c; No. 3 yellow, 52%@53%c: No. 2 mixed, 52%®53%c; No. 3 mixed, 51%@ 52 %c. Oats—Steady; No. 2 white, 40@41c; No. 3 white, 39@40c. Hay—Firm. (F. o. b. country points taking 23%c or less rates to Cincinnati or Louisville): No. 1 timothy, [email protected]. —lnspections Wheat—No. 1 red, 2 cars; No. 2 red, 3 cars. Total, 5 cars. Corn—No. 2 white, 1 car; No. 4 white, 4 cars; No. 2 yellow. 3 cars; No. 3 yellow, 2 cars; No. 6 yellow, 1 car; No. 5 mixed, 3 cars; No. 4 yellow, 4 cars; No. 5 yellow, 1 car. Total. 19 cars. Oats—No. 2 white. 3 cars; No. 3 white, 5 cars; No. 4 white, 1 car. Total, 9 cars. Loeal Wagon Wheat City grain elevators are paying 84 cents for No. 2 soft red wheat. Otntr grades od their merits. (By United Press) CHICAGO, June 14.—Cash grain: Wheat —No. 2 red, 976)97%c; No. 2 hard, 97%c. Corn—No. 2 yellow, 59%c; No. 3 yellow, 59! 4 @59%c; No. 4 yellow, 58%@59%1; No. 5 yellow. 58c; No. 6 yellow, 58’ 4 c; No. 3 white, 62%c. Oats—No. 2 white, 44%®44%c; No. 3 white, 44%: sample grade, 40c. Rye—No sale. Barley—No sales; quotable. 55c@$l. Timothy—sß,so4/9. Clover 5eed—59.75613.50. Cash provisions—Lard. $6,80; loose, $6.25; leaf. $6.25; bellies. $6.72. TOLEDO. June 14.—Grain close; (Grain in elevators, transit billing.) Wheat—No. 2 red. 976 98c. Corn —No. 2 vellow, 624/ 63c. Oats—No. 2 white 486 49c. Rye— No. 2. 69%670%c. Track prices. 28%c rate. Wheat—No. 1 red. 93%®94c: No. 2 red. 92% 4* 93c. Corn—No. 2 yellow. 586 58%c: No. 3 yellow. 57@57%c: No. 4 vellow. 56656’ic. Oats—No. 2 white. 45 646%c: No. 3 white. 44%646c. Toledo seed closet. Clove*—Cash. $8.25. Alsike — Cash. $8.50. ST. LOUIS. June 14.—Cash grain: Wheat —ln fair demand, 1 cent lower on red and •% cent lower on hard grades: No. 2 red winter, 94%c; No. 2 red winter. 936 c, nominal at close, off l%c; No. 3 red. 93’% 6 94c; No. 1 red garlicky. 94%c; No. 2 hard. 96c. nominal, off l’.ic; No. 3 hard. 95%c. Corn—ln fair demand. % to 1 cent lower; No. 2 yellow. 60%6<>1c; No. 3 yellow, 60%c; No. 4 yellow. 59%c; No. 5 yellow, 59c. Oats—No offerings, nominal to unchanged; No. 2 white, 45c, nominal. Chicago Futures Range —June 15— Prev. Wheat— .High. Low. 10:00 close. July 95% .94 .94% .94 Sept 961* .95% .95% .94% Dec. .97% .96% ,97V* .96% Corn— July 58% .58% 58% .57% Sept 60% .59% .60% .59% Dec 61% .61% .61% jfl% Oats— July 44% .43% .44% .43% Sept 44% .43% .43% .43% Dec 45 .44% .45 .44% Ryqe— July 65% .65% .65% .65% Sept 67% .67% .67 % .66% Dec 70 .69% .70 .69 Barley— July 56% .56% Sept 54% U. S. ELECTRIC OUTPUT ADVANCES 5 PER CENT Consumption During Week Totals 1,654.916,000 KWH. By Times Special CHICAGO, June 15.—An increase of 5 per cent over the previous week in electric output was shown in the United States, according to the Edison Electric institute. The Commonweath Edison Company announed an increase of 6.4 per cent for the Chicago district over last year. Total output of electricity for the nation was 1,654,916.000 kilowatt hours as compared with 1,575,828,000 kilowatt hours .in the preceding week. The New England states reported a drop of 2,2 per cent from the 1933 figures while the middle Atlantic states showed an increase of 1.9 per cent. The central industrial region was up to 10.3 per cent as compared to 10.9 for the previous week.

“WE WISH TO BUY— Building and Loan Stocks Indpls. Power & Light 6*4 and 6% Pfd. NEWTON TODD 415 Lenivke

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Abbott, Hoppin & Company 203 Continental Bank Bldg. Riley 5491 NW . Y ° r , k Indianapolis „!) hi ! ago . Montreal Pittsburgh MEMBERS: New York Stock Exchange Chicago Board oi Trade New York Curb Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Curb Exchange New York Produce Exchange Commodity Exchange, Ine. New York Coffee and Sugar Exchange, Inc. Chicago Mercantile Exchange Co-Managers James T. Hamill Kenneth K. Woolling

'JUNE 15, 1932

GRAIN FUTURES STRENGTHEN ON BULLISH NEWS' Reports of Rain Over Parts of Southwest Area Strong Factor. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, June 15.—Rains over part of the southwest, where harvest is in progress, brought bullishness into grain pits on the Chicago Board of Trade today and prices averaged slightly higher at the start. Wheat opened unchanged to •% cent higher, corn was unchanged to •% cent higher, oats were unchanged to up V*. cent, and rye was *4 to ?4 cent improved. J There was no material pressure at the beginning and imexpected ' firmness in Liverpool also was a contributing factor to the upturn. . Reports of continued chinch bug damage came from the corn belt and as a consequence the yellow 1 cereal was slightly firmer than other grains. , CHICAGO PRIMARY RECEIPTS —June 14— - —Bushels—- _. . Today. Last Week Wheat 655 000 484 000 Corn 365,000 526 OCO • Oats 106,000 109.000 ACME STEEL DECLARES ’ EXTRA STOCK DIVIDEND ■ Lerner Store Corporation to Pay 51.62 on Preferred. By Times Special CHICAGO, June 15.—Directors of Acme Steel Company this week declared an extra dividend of 12!*’ cents a share on the common stock in addition to the regular quarterly payment of 37 !£ cents a share, the rate established three months ago. Six months ago the firm paid 25 cents a share quarterly. Authorization of a dividend of $1.62 1 2 a share on the preferred stock, covering the quarterly payment due Aug. 1, 1932, was made this week by directors of Lerner Store Corporation. Occidental Petroleum Corporation earnings a share in the quarter ended March 31, amounted to 2 cents a share, and earnings in the previous quarter were 3 cents a share. The firm has taken no action on divi- j dend payments. w Hupp Prices Sliced By Times Special CHICAGO, June 15.—A SSO reduction on the 417 series Hupp sedan was announced this week by the Hupp Motors Corporation. Other models remained unchanged in price, but anew de luxe line of cars was introduced to sell at the original 417 series prices.

WE BUY AND SELL: U. S. Government Bond* U. S. Territorial and Insular Bonds Indiana Municipal and Gravel Road Bonds Land Bank Bonds Home Owners' Loan Corporation Bonds Bonds and Stocks of Indiana Corporahons General Market Municipal and Corporation Bonds / Indianapolis Bond and Share Corporation 129 East Market Street telephone Riley 4551

Investments and Investment Service Wm. E. Shumaker & Company, Inc. 1408 Circle Tower LI-8354