Indianapolis Times, Volume 46, Number 31, Indianapolis, Marion County, 16 June 1934 — Page 14

PAGE 14

Wall Street Senator Giass Redeems Himself as Friend of Financial Area. BY RALPH HENDLKSHOT limes Special Financial Writer SENATOR GLASS ol Virginia has redeemed himsell in large measure in Wall Street’s estimate. In years gone by the Street has 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 anti-

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 a 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.

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 I 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 jlhought about selecting the five. 1 ’ uThe 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 ng flashed all over the financial A local newspaper gave it ™ big “play,” apparently without making the usual check, and the “huge” joke came into being. tt tt U 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, 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 15— —Santos—- . High. Low. Close. March 11.05 10.95 10.95 May 11.11 H. 03 11.03 July 10.35 10.31 10.35 September 10.83 10.71 10.71 December 10.98 10.85 10.86 —Rio— January . g. 15 March 8.32 8.20 8.20 May 8.39 8.33 8.33 July 8.02 8.00 8.02 September 8.06 8.00 8.04 December 8.21 8.05 8.21 SUGAR , High. Low. Close. January 1.81 1.78 1.80 March 1.87 1.81 1.87 May 1.92 1.89 1.92 Jub; 1.64 1.60 1.63 September 1.71 1.67 1.71 December 1.80 1.78 1.80

In the Cotton Markets —June 15— CHICAGO High. Low. Close 1 . January 12.45 12.38 12.45 March .. 12.57 12.50 12.53 Mav 12.68 12.60 12.64 July 12.06 12.02 12.06 October 12.36 12.17 12.28 Decembet 12.45 12.32 12.39 NEW YORK January 12.46 12.27 12.34 March 12.50 12.39 12.44 Mav 12.60 12.47 12.55 Julv 12.02 11.84 11.93 October 12.26 12.10 12.18 December 12.37 12.23 12.28 . NEW ORLEANS .Januery 12.50 J'aiCh 12.41 12.39 12.42 Mav 12.59 12.54 12.54 Julv 12.02 11.85 11.92 October 12.24 12.11 12 15 December 12.35 12.22 12i26 Retail Coal Prices The following nrlces represent quotations ftom 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 875 Coke, egg size 8 75 Indiana forked lump [email protected] Indiana egg 5 2505.50 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 coal and SI a ton for coal carried to bin NORGE SALES INCREASE Business in First Five Months of Year Up 244 Per Cent. By Time* Special CHICAGO. June 16.—Norge CorpOi a iau 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. Sale* in the entire nation during that period of time increased 30 per t cent over the corresponding period in 1933. The Sampson Electric is distributor in Chicago,

UTILITIES LEAD ADVANCE WITH 3-POINT GAIN Rails Strengthen Despite Less Than Seasonal Rise in Carloadings. BY ELMER C. WALZER United Press Financial Editor

NEW YORK, June 16.—Stocks gained over a broad front yesterday wtihout pickup in the recent light volume of trading. All groups participated in the rise which extended in some issues to more than 3 points. Utilities made the best showing with chemicals a close second. Rails moved higher despite a less than seasonal gain in car loadings for the week ended last Saturday. Oils were in relatively good demand. Silvers, steels, foods, wet stocks, and mercantile issues were prominent on the upside. Quiet strength in the utilities attracted attention from the start. Peoples Gas rose to 36, up 2 : li; Consolidated Gas 34%, up 114; Public Service 37%, up 1%, and Commonwealth and Southern preferred 49, up 3. A major portion of the gains was retained to the close. - t Steel Shares Advance Steel shares picked up when William Green, president of the American Federation of Labor, attempted to conciliate strikers or at least obtain a stay in the strike threatened for tomorrow to permit the administration to take steps to prevent the walk out. Strike leaders were to go into session again after th® close, probably to vote on the Green suggestions. In some quarters of Wall Street belief was expressed a steel strike would be favorable rather than a menace. It was reasoned the steel industry was heading into a substantial decline in operations anyhow and that might adversely affect other lines. In event of a strike, a brief shutdown of the plants would build up demand and make for a small boom when the strike was settled.

Wall Street 1 e gislators 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-

Automobile shares were again sold for a time. Traders reasoned the reecnt price reductions announced by several units would cut deeply into profits and this caused them to sell. Auburn Auto Rallies Auburn, recent weak spot, rallied after touching a record low of 25%, off % point net. General Motors was up more than a point at one time, but it eased off. Chrysler dipped to a small loss late in the day. American Sugar Refining made its customary daily high in a firm sure group. It sold at 62%, up IVz, and then met moderate profit-tak-ing that erased part of the gain. Gains of a point or more were made by a long list of issues in various sections. Stock sales yesterday approximated 730,000 shares against 630.000 shares Thursday. Curb sales were 166.000 shares against 129,000 shares Thursday. Dow-Jones preliminary closing averages 98.70, up 1.55; railroad 45.25, up 0.56; utility 24.46, up 0.48. Money and Exchange INDIANAPOLIS BANK CLEARINGS —July 15— Clearings $2,015,000.00 Debits 4,930.000.00 FOREIGN EXCHANGE —June 15— _. ~ .. . Close. Sterling, England $5.04 V* Franc, France 0660'% Lira, Italy 0860'/* Belgias, Belgium 2338 Mark. Germany 3818 Guilder. Holland 6787 Peseta, Spain 1369 Krone, Norway 2540 Krone. Denmark 2258 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 $1,884,425,356.82 Deficit . $3,739,297,931.65 $2,959,720,509 49 Cash Bal $1,925,119,761.20 Investment Trust Shares (By Abbott, Hoppin & Cos.) —June I^ . . . Bid. Ask. American Bank Stocks Corp.. 1.12 1.18 American & General Sec A.. 4.50 6.00 American & Inv Tr Sh 1.75 Basic Industry Shares 3.40 3.50 British Type Inv Tr Sh .... 44 .50 Collateral Trustee Shares A.. 4.70 4.85 Corporate Trust Shares (old).. 2.15 2.20 Corporate Trust Shares (new) 2.36 2.40 Cumulative Trust Shares 4.10 4.25 Diversified Trust Shares A..’. 6.25 Diversified Trust Shares 8.. 7.87 800 Diversified Trust Shares C... 3.08 3.12 Diversified Trust Shares D... 4.85 5.00 First Insurance Stock Corp ... 1.23 1.27 First Common Stock Corp 4.85 5.00 First Insurance Stock Corp... 1.23 1.27 First Common Stock Corp 68 .71 Fixed Trust Oil Shares A 837 .... Fixed Trust Oil Shares B 7.75 .... Incorporators Investments ... 17.87 19 40 Land Bank Bond Shares .... 1,18 131 Low Priced Trust Shares .... 6.10 6.20 Mass Inv Trust Shares 18.55 20.18 Nation Wide Securities 3.40 350 North Am Trust Shares (53).. 1.92 1.98 No Am Trust Shares (55-56).. 2.39 242 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 3.48 400 Std American Trust Shares A 2.95 2.99 Trust Shares of America 2.74 2.78 Trustee Std Oil A 5.85 595 Trustee Std Oil B 5.37 5.62 U S Electric Lt & Pwr A.... 12.75 13.00 Universal Trust Shares 3.12 3.20

New York Bank Stocks ißv Abbott, Hoppia & Cos.) —June 15— _ , Bid. Ask. Bankers 6214 63 Brooklyn Trust lio no% Central Hanover 128'/a 129 % Chase National 2814 28% Chemical 41 41% National City 28% 28% Corn Exchange 51 Vi 52 Continental 13% 14% Empire 19 '4 19% First National 1,715 1,725 Guaranty 374 376 Irving 1714 17% Manufacturers 22 22% New York Trust .... 108% 109% Public ~ 34 V 435 Daily Price Index (By United Press) NEW YORK. June 15.—Dun & Bradstreet's daily weighted price index of thirty basic commodities compiled for the United Press. (1930-1932 average, 100). Today 112 81 Yesterday 112.95 Week Ago 112.23 Month Ago 108.15 Year ago (June 16> 91.23 1934 high (June 12) 113 37 1934 low (Jan. 31 101 05 (Copyright. ’34. by Dun & Bradstreet. Inc.) Cadillac-La Salle Sales Up By Time* Special DETROIT, June 16.—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. Census bureau announces cotton consumption during April amounted to 519,765 bales against 512.703 bales in the similar 1933 months. Consumption in ter months endedUfc\prll 30 totaled 4.977.772 bales againsi|Bi§9.493 bales in the corot Mae wecedartg yeeus

New York Stocks “ — " 'Bv Abbott. Hoppin <ss Co.i

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 .... .... 94.83 same Ten first rails .... 101.56 +.15 Ten second rails .... 82.14 +.OB Ten utilities .... 98.56 —.09 Ten industrials .... 97.06 —.13 + Up; -Off.

—June 15— Prev. Oils— High. low. 10:30. close. Amerada 54 53 54 53 Atl Rfg 27 26 27 26 Bransdall 8>/ 8 7% 8 7 Vs Consol Oil fiv < in’. 11'4 10% Cont of Del ... 20% 19% 20% 20% Houston (new) . . . . 3% I Houston (Oldi . 22% 21 % 22% 21% Mid Cont Pet. 13P/. 13% 13% 13% Ohio Oil 12% 12Vs 12% 12% Pet Corp 11% 11'/* Phillips Pet .... 19Vi 18% 19% 18% Plymouth Oil ... 12% 12>/s 12% 12% Pure Oil 10% 10% 10% 10% Royal Dutch ... . 35% 35% Sbd Oil 35% 32% 35V. 33% Shell Un 8% 8% 8% 8% Shell Un 8% 8% 8% 8% Skellev Oil . . • 10 Sot Vac 17 16 16 Vs 16% SO of Cal .... 36% 35% 36% 35Vs SOof N J .... 47% 46 41% 46 Sun Oil ■ 62 % Texas Corp 25% 24% 25% 25'% Tidewater Assn. 13% 13 13 13 Un Oil of Cal.. 16% 16% 16% 16% Steels— Am Roll Mills.. 20’4 18% 20% 19 Beth Steel 35% 33Vs 35 33V 4 Byers a M 23% 22% 23% ... Col Fuel & Ir 6Vi Cruc Steel 25 25 Inland Steel ... 40% McKeesport Tin . 87 V* Mid Steel 13% 13 / Natl Steel 43 41 % 43 41% Rep Iron Steel. 18% 17% 17V* 17V 8 Otis Steel • 5% s'/* Rep I & Stl pfd 49 48% 49 48% U S Pipe & Fdy 25% 24% 25 24% u S Steel 42% 40% 42% 41 U S Steel pfd.. 87% 87 87 87% Warren Bros ... • • • ■ 9% Youngstn S&T22 V* 21% 22 20Vs Motors— Auburn 27% 25% 26% 26% Chrysler 43*4 41% 42% 42% Gen Motors .... 33% 31% 32% 31% Gen Motors pfd 103 „ 102% 103 102 Graham Mot . 2% 2% Hudson 12% 11% 12 11% Hupp 3% 3% 3% 3% Mack Truck .27*4 27% Nash 18 17% 17% 17% Packard 4 3% 3% 3% Reo i 3% 3% Studebaker .... 4% 4% 4% 4% YeUow Truck 4% 4% Motor Access— Bendix 16% 15% 16% 15% Bohn Alum 57 56'/* 56'/* 55% Borg Warner .. 24*4 23% 24*4 23% Briggs 17%.. 17 17% 17% Budtf Wheel 3% Eaton Mfg 18% 18 18 17% Elec Auto Lite .. 23 22 22% 22% Houdaille A 4% 4% 4% ... Mullins Mfg .... 12 11% 12 11% Mullins Mfg pfd • .. 35*4 ... Murray Boay ... 7'/i 7% 7% 7% Stew Warner .. 7% 7% 7% 7% Timken Roll .... 31% 30V* 30% 29% Timken Det Axel 7% 7% 7% 7% Mining— Alaska Jun .... 20% 20 20% 19% Am Metals 23% 23 23% 23% Am Smelt 42% 41 42% 41% Anaconda 16 15% 16 15% Cfl & Hecla 4% 4% 4% 4% Cerro De Pasco. 39% 38% 39% 37% Dome Mines ... 43'% 42'% 43*% 42'% Granby 11 11 Grt Nor Ore ... 12 11*% 12 11% Homestake Min. .384 382 382 Howe Sound 54% 67 54% 53 Ins Copper . 5 Int Nickel 26% 26% 26'% 26% Int Silver 31 Isl Creek Coal 39% ... Kennecott Coo .. 22% 21V* 22% 22 Mclntyre Mine .. 48% 48 48% 48*4 Noranda Cop 44 *4 44 % 44'% 44 Park Utah 4% 4*4 4% 4% St Joe Lead 21% 20% 21% . U S Smelters 130% 126% 130% 127% Vanadium .'. 23*4 22% 22% 22'% Amusements— Croslev Radio .. 16'% 15% 16'% 15% Fox Thea 15 14% 14% 14% Loews Inc 32% 31% 31% 31% Radio Corp 7'% 7% 7% 7% RKO 2% 2% Warner Bros ...... ... 6 6 Tobaccos— Am Sum Tob .. 17'% 17% 17% 18 Am Tob A • ■ . ■ 72 71 Am Tob B 73% 73% 73% 73% Gen Cigar ... 40 Ligg & Myers B 97% 97 97'/* 97 Lor ilia rd 18'% 18% 18'% 18*4 Reynolds Tob B 46'/* 45% 46% 46% Rails— Atchison 60% 58% 59% 58% Atl Coast Lines 41% 40% 41% 41 B & O 25% 24% 25% 24% Can Pac 15% 15% 15% 15% Ch & Ohio .... 47% 47% 47'% 47 CM&StP ... .. 5 C M & St P pfd 8% 8 8% B'/* Chi N W 10% 10 10% 10 Chi N W pfd ... 18'% 18% 18'A 17'% Dela & Hud ... 54'% 54'/* 54% 53 Del Lac & W .. 25 24% 24% 23% Erie 20% 20% 20% ... Erie pfd 25'% 24% 25'% ... Grt North pfd. 23'% 21V* 23 21% 111 Central ..... 27 26'% 27 26 K C Sou 14 13% 13% 14 Lehigh Valley.. 16 Lou Nash 55% 54*% 55% 54% M K & T . . -9% MK & T pfd... 24 23% 24 23% MO Pac • 3% 3% Mo Pas pfd . • 6 6 N Y Cent 31% 29% 31 30 N Y New Haven 16% 15% 16'% 15% Norfolk & Wes. .. 180 Nor Pac 26 24% 25% 25 Penn R R 31% 30% 31V* 30% Sou Pac 25% 24'% 25% 24% Sou R R 27% 26'% 27% 26'% Sou R R pfd ... 33'% 32% 33% 32'% Union Pac 124'% 124 124 124'/* Wabash ... 3'/* ... West Maryland. 13'/* 13 13 Equipments— Allis Chalmers . 17'% 17% 17% 16% Am Brake Shoe. .. 27 26% Am Car & Fdy 22 21% 22 22 Am Car & Fd pf . 42'% Am Loco 24% 24'% 24V* . Am Loco pfd —. 52V* Am Mach & Fdy 15% 15'% Am Steel Fdy .. 17V* 16% 17V* 17V* Bald Loco 11% 11 11% 11% Bald Loco pfd.. . 44V* 45 Burroughs 14 13% 14 14 Case J I 53% 52'% 53% 53% Cater Tract 27'% 26V* 27'/* 27 Deere &Cos 21'/* 20 3 /* 21% 20% Elec Stor Bat 43 43 3 /* Foster Wheeler.. 16 15„*% 16 15% Gen A Tank Car . 39 38% Gen Elec 21 20'% 20% 20% Gen R R Sig... 35% 35*4 35% 35 Ingsol Rand .. 61 60 3 /* 61 Int Bus Mach 138'% 137 Int Harvester 32'4 Natl Cash Reg.. 17 16% 17 16 3 / Pullman Inc .... 51'4 50 51 51'% Rem Rand 10% 10 10'% 10'% Und Elliot . 46% . West Air B 27 26'% 26% 27 Westingh Elec . 38'% 37 38% 37% Worthington P 22'% 22*/* Utilities— Am & For Pwr.. 9 8% 8% 8% Am Pwr & Lit.. 7% 7% 7% 7% AT&T ...117 115'% 116*% 115% Am Wat Wks.. 20% 19% 20% 19% Brook Un Gas . . . 66'% 66% Col Gas & Elec. 14% 13% 14% 15 Com & Sou ... 2% 2V* 2Vi 2V* Consol Gas ... 34% 33'/* 34V* 33% Elec Pw & Lit.. 6V4 6 6 6 E P & L pfd.. 14% 14 14% 14% Int Hydro Elec . 7% 7 7V* 7 Int T & T ... 14 13% 13 s /* 13'/* Lou G & E A . 17V* 17% Nat Pwr & Lit. 10 s /* 10*4 10'% 10 North Amer .. 18'% 17% 18'/* 17% Pac G& E 19 18% 19 18'% Peoples Gas . 35% 34 35'% 33'/* Postal Tel pfd 22 20% 21% 21 Pub Serv N J 37% 36'% 37'% 36% So Cal Edison .. 16'/* 16 16% 16V4 Std Gas . 11% 11% Std Gas pfd ... 13'% 12% 13V* 12% Stone & Web . 8% B*/ 8% B'4 United Corp ... 5% 5*% 5'% 5% Un Gas Imp .... 16% Ut Pwr & Lit A .. .. 3V* Western Union.. 48V* 46% 48% 46% Rubbers— Firestone 18V* 18 18% 18% Goodrich 14*4 14 14% 13% Goodyear 30 Vi 28V* 30 29 Kelly Spring .. . 2% .. U S Rubber 20'/* 19'% 20*4 19% U S Rubber pfd 49V* 48V4 49% f}

Miscellaneous— Am Bank Note.. 21% 20V4 21 20% Amer Can 97% 95 96% 96 Anchor Cap .... .. ... ... 20% Brklyn Man Tr.. 39Vi 38V4 39 38% Conti Can 78% 77% 78% 78% Crown Cork 27 Curtis Pub 23% ... Curtis Pub pfd . 81 80% 81 80% Eastman Kodak 99 98 98 96% Gillette . 10% 10% Glidden 25% 25% 25% 25% Inter Rapid Tr.. 9 _ 8% 8% 8% Owens Bottle 78 Foods— Am Sugar 62 V 4 61 62 60% Armour “A” 6 5% 5% 6% Beatrice Creamry 17% 17 17 16% Borden Prod 27% 26(4 27% 26 >4 Cal Packing 33% 32% 32% 31% Can Dry G Ale.. 22% 21% 32% 22 Coca Cola 124% Cont Bak "A”... ... .. . 9% Corn Prod 68'/* 67% 68% 67% Crm of Wheat .. . 32% Cuban Am Sugar 7% 7% 7% 7% Gen Foods 32% 32V4 32% 32% Gold Dust 20% 20 20 20 G W Sugar 33% 32 32% 31% Hershev 62% ... Int Salt 30% 30% Loose Wiles 39% Natl Biscuit 36% 36% 36% 35% Natl D Prod .... 18% 18 18 17% Purity Bak . 14 14 S Porto Rico S 34% 34 -34% ... Std Brands 20% 19% 20% 19% Un Biscuit . .. 25% United Fruit ... 73% 73% 73% 73% Retail Stores— Ass Dry Goods.. 13 12% 13 13 Best & Cos 31% . First Natl Stores . .. 65% 64% Gimbel Bros ... 4% 3% 3% ... Gr Un Tea ... .. 6% 6% Hahn Dept Sts. 5% 5% 5% 5% Kresge S S 18V* 18% Kroger Groc 31 31 Macy R H 42 41% 42 41 Marshal Fields 16 15% 16 16% May Dept. St ... 38% 38 38% 37% Mont Ward .... 29 27% 28% 27% Natl Tea ... 13 Penny J O .... 59% 58% 58% 58% Safeway St .... 52% 51% 52% 51% Sears Roebuck m 44% 43 44 48% WmlmMi .... *144 MM *144 M 34

. THE INDIANAPOLIS TIMES

AviationAviation Corp .. 7 6V 6% 6% Curtiss Wright . 3% 3'% 3'% 3'% Curtiss Wrgt A.. 11 10% 10 s /* 11 Douglas Air .. 22 21% 22 21% Nor Am Av 4% 4% 4% 4% Speery Corp .. 9% 9V* 9'/* 9'i United Aircraft 21% 20% 21 20% Wright Aero .. 57'% 56 56 3 /* 55'% Chemicals— Air Reduction 99V* ... Allied Chem ...140'% 139 140% 139% Am Com A1c0... 38'% 37V* 38% 37% Col Carbon .... 75 74'* 74% 72 Com Solvents .. 24*/* 23 V* 24'/* 23*4 Dupont 91 88'/* 90 % 88'% Freeport Tex .. 37'/ 4 36 36% 37% Liquid Carb .... 29% 29 Math Alkali ... 33 V* 33 33 s /* 32 Montoson Chem. 48'% 47% 48'% 46*4 Natl Dis (new). 26V* 25% 26 26'/* Scheneley Dist.. 30V* 29V* 30 27% Tex Gulf Sulph. 34% 33 5 /* 34 33% Union Carbide 43% 42 43% 41% U S Ind Alcohol 44'/* 44'/* 44'/* 43'% Vir Chem 6% pfd 17 16 Drugs— Coty Inc ss/*5 s /* 5'% Lambert 27'% 27 27 28% Lehn & Fink .. 21 21% Un Drug 16'% 16V* 16% 16V* Zonite Prod 5% 5 s /* Financial— Adams Exp .... 9 8% 9 9Vs Allegheny Corp 2% 2% Am Int Corp 8% 9 Chesa Corp 46'/* 44V* 46'* 45'/* Lehman Corp ... .. 67'% ... Transamerica .. 6% 6% 6% 6% Tr Conti Corp .. 4 s /* 4'% 4% 4% Building— Am Radiator ... 14% 14 14V* 14 Gen Asphalt ... 19% 19V* 19% 18% Int Cement ... 27 26% 26% 27'/* John Manville . 53% 52 5 / 53 51% Libby Owens Gls 32% 32'% 321% 31% Otis Elev 15V* 15% Ulen Const 2 s /* ... HouseholdCol Pal Peet ... 16% 15% 16% 15V* Congoleum .. 28V* 27 5 /* Kelvinator 19 18% 18V* 18% Proc & Gamble 35% 34% 35'% 34'% Simmons Bed... 17% 16% 17% 16% Textiles— Amer Woolen 11% ... Belding Hem 13 Celanese Corp . 27V* 26% 27V* 26% Collins Aikman 17% Gothem Hose B'/* B*/* Indus Rayon .. 526 25 26 25'/* Kayser Julius 19 17 New York Curb (By Abbott, Hoppin & Cos.) —June 15— Closel Close. Allied Mills 8 [Gulf Oil Os Pa. 66% Alum Cos of Am 68% Hiram Walker.. 37'% Am Cyanide B 18'/* Hud Bay Min.. 13V* Am & F Pw W 5% Humble Oil 44% Am Gas & El.. 26V* Imperial Oil Ltd 15'% Am Superpower 2%lnt Petrol .... 29% Ass Gas & El.. V* Lake Shore M 53 Atlas Corp 11'% Libby McN Lib 6 Brazil Tr & Lt 9V* Lone Star Gas . 5V* Can Ind Ale A 11% Natl Bellas Hess 3'% Can Marc 2'%Newmont Min.. 52 Carirer Corp... 8 Nia Hud Pwr .. 5% Cities Serv 2%Novadel Agene.. 21% Con G of Balt 64 Park Davis ... 23% Cord Corp ... 4'% Penn Road 2% Creole Petrol .. 12% St Regis Paper. 3% Deere & Cos ... 21V* Sal Creek Prod. 6% Distillers Lim.. 22% Sherwm Wms.. 66'% Distillers Corp. 16%|Std of Ind ... 27V* Dow Chem 93 [Std of Ky 16% El Bond & Sh l6%|Technicolor Ind 14% Fisk Rubber ... 12 iTeck Hughes G 6 s /* Ford of Can A 21V*IUn Pwr & Lt A 3 Ford of Europe 8 [Wright Hap M. 9% Glen Alden Coal 17%

Chicago Stocks ' (Bv Abbott. Hoppin <& Cos.)

TOTAL SALES, 23.000 SHARES —June 15High. Low. Close. Abbot Lab 50% Advance Aluminum 2Vi Am Pub Serv pfd 10 Vi Berghoff 8% 814 8% Bastian-Blessing 5% 514 514 Bendix Aviation 16'/g 15% 16 Binks Mfg 2 Blum’s Inc i/ 2 Borg-Warner 2414 24 24 Brown Fence & W (B ) .. 2% E L Bruce Cos. 10 9% 10 Butler Bros 10 9% 9% Cent 111 Pub Serv pfd.. ... 16V, Cent Ind Power pfd ..10 9 10 Cent & So West pfd 614 Chi & North Western 10% Chicago Corp com 214 2% 2% Chicago Corp pfd 26% Chicago Elec Mfg (A).. . ... 7% Cities Service 2% 214 2Vi Commonwealth Edison 5414 52 53% Consumers 1% pfd 2 Continental Steel • 7 Cord Corp . 414 4% 414 Chicago Ribbon ... 14 Crane Cos 914 914 914 Crane Cos pfd 57 Deep Rock Oil 614 Electric Household .... 1514 15% 1514 Gen Household Util 1214 12‘4 1214 General Candv Corp .. 51/, Goldblatt Bros 1714 17 17% Great Lakes Aircraft % Hart-Carter, pfd ... 5 Iron Fireman 1614 1514’ 15% Katz Drug 34*4 34 34 Keystone Steel irl4 Libby-McNeil e Lincoln Printing % Loudon Packing ... 2% Marshall Field 1614 16 1614 Mickelberry's Food Prod 1% Middle West Utilities <4 Midland United 14 Murkeeon Mot Spec “A” 13 Noblitt-Sparks Indus Inc 1314 13% 13% Northwest Engineering. .. ... 414 Parker Pen ... 9 Penn Gas <fc Elec 19 18'4 18% Potter Cos 3% 314 3% Prima Cos ... 8 Public Service N P .... 17% 1714 17% Public Service 6% pfd.. 57 56 56 Public Service 7% pfd 6614 Raytheon VTC 2 St Louis Nat Stock Yds .. ... 55 Stand Dredging Cos pfd. 2% 214 214 Swift &Cos 17% 17% 1714 Swift Internacional ... 30% Thompson JR 7 6% 6 7 4 Utility & Ind .. 1 vortex Cup Cos 1314 12% 1314 Vortex Cud Cos “A” 30 Wahl . > 1% Walgreen Cos com 28% 28% 28% Yates Machine % Zenith Radio 3 U. S. GOVERNMENT BONDS (By United Press) (Decimals represent thirty-seconds) —Liberty—3'4s (32-47) 104.4 First 4%s (32-47) 102.27 Fourth 4>4s (33-38) 103.22 —Treasury—--4%s —3%s (45) 103.22 4%s (47-52) 113.14 3%s (43-47) 104.21 3%s (41-43) March 105.4 3%s (40-43) June 105.4 3 V4S (43) 105.1 314s (46-49) 102.11 3s (51-55) 101.12 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —June 15— Bid Ask •4s Nov. 1, 1957-37 100 *4' 101% 4s May 1. 1958-38 100'4 101% 4% July 1. 1956-36 100% 101% 4%s Jan. 1. 1957-37 100% 101% 4%s May 1. 1957-37 100% 101 % 4%s Nov. 1. 1958-38 101 % 4%s May 1. 1942-32 IOO'/a 101% 4'4s Jan. 1. 1943-33 100% 101 % 4%s Jan. 1, 1953-33 100% 101% 4%s July 1, 1953-33 100% 101% 4'4s Jan. 1, 1955-35 100% 101 % 4%s Jan. 1, 1956-36 101% . - 4%s July 1, 1953-33 100% 101% 4%s Jan. 1, 1954-34 100% 101 % 4%s July 1. 1954-34 100% 101% 5s May 1, 1941-31 101% 101% 5s Nov. 1. 1941-31 101% 101% 4s July 1, 1951 101.13 101.16 —Home Loan——Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 102.03 102.07 The latter quotations are in thirty-sec-onds.

REFINANCING PLAN OF I. C. TO BE CONTINUED New Ruling Requires Assent from 80 Per Cent of Holders. By Times Special NEW YORK, June 16.—Possibility for the Illinois Central railroad system to go ahead with its refinancing plan for $20,000,000 in 4% 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 |KrcMti4U)d fftiHfttodcr in friotog.

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 yesterday. Following the sharp increase of the previous session, the majority of classes were steady to mostly 10 cents higher than Thursday’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 uiumbered 3,000; calves, 800; markeVunchanged. Sheep receipts were 5,&00; market stationary.

June. Bulk. Tod. Receipts 9. $3.35® 3.65 $3.90 2,000 11. 3.60® 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 •\Pa eking 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 Common 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 4.25® 5.75 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, 16.090. including 6.000 directs; uneven mostly steady to 10c lower than yesterday; early. $4.90; 200 lbs. up mostly [email protected]; 170-210 lbs.. [email protected]: pigs, $3.25 down; packing sows. $3.50®3.90; light lights, 140-160 lbs., good and choice. $3.75®4.25: light weights. 160-200 lbs., good and choice. $4®4.60: medium weights, 200-250 lbs., good and choice. $4.50@4 90: heavy weights. 250-350 lbs., and choice, [email protected]; packing sows, 275-550 lbs., medium and choice, $3.15@4: slaughter pigs, 100-130 lbs., good and choice, $2.25®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 ibs. steers. $8.25: Montana hay fed. [email protected]; heifers. $6.50 down; heavy Holstein bulls, $3.50: selected vealers, [email protected]; slaughter cattle and vealers. steers, 550-900 lbs., good and choice. $5.75 ®8.50; 900-1.100 lbs., good and choice, $6.50® 9.50: 1.100-1,300 lbs., good and choice. [email protected]; 1,300-1,500 lbs., good and choice. sß® 10.25: 550-1.300 lbs., common and medium. $3.50®8: heifers. 550750 lbs., good and choice. [email protected]; common and medium. $3®5.50; cows, good. s4®s; common and medium. s3®4; low cutter and cutter. $1.75®3; bulls (yearlings excluded) good (beef). $3®3.75; cutter. common and medium. $2.25®3.50: vealers. good and choice, $5®6.50; medium. s4®s; cull and common. s3®4; Stocker and feeder cattle, steers. 5501.050 lbs., good and choice, $4.25®5.50; common and medium. $3®4.25. Sheep— Receipts. 5.000; spring lambs in active demand. fully steady to stronger, sorts considered; yearlings and aged steep little changed: native springers. $8.75 to mostly $9: best held $9.15®9.25; asking around $7.25 for best yearlings; aged ewes. sl(s 2.25; slaughter sheep and lambs, spring lambs, good and choice, $8.25® 9.15; medium. $6.75®8.25: ewes. 90-150 lba., good and choice. [email protected]: all weights, common and medium. 75cffi$1.75. FT. WAYNE. June 15.—Hogs—10@20c higher; 250-300 lbs., $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., $4.80® 4.85: 180-225 lbs., [email protected]; 160-180 lbs.. [email protected]: 140-160 lbs., $3.75@4; 120-140 lbs.. $3.25®3.50; 100-120 lbs., $2.75@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; bulk 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 lbs.. $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, sl@2; stock ewes quotable mostly ss®7 a head.

Fletcher Ave. Savings & Loan Assn. SWs 10 East Market St.

Indiana Crops Suffer Heavily From Drought

Conditions in May Reported at 50 Per Cent Below Normal. By United Press LAFAYETTE, Ind., June 16.—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 yesterday. Prospects for the winter wheat crop showed considerable variation. The southwestern Indiana crop is in better than average condition, and those in soutl\ 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. 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 com 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 cron 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. 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. Sc; Leghorn hens, 8c; 1934 broilers l'% lbs. and over, 18c: Leghorn broilers 1% lbs. and over, 15c: bareback broilers, 12c; old roosters, 3c; ducks and geese. 3c; young guineas, l'% to 3 lbs., 20c; old guineas, 15c; No. 1 strictly fresh country run eggs, loss off 10'%c. 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. 25<026c. Butterfat, 21c;. Quoted by Wadley Company. (By United Press) CHICAGO, June 15.—Eggs—Market, steady; receipts, 15,614 cases; extra firsts, 15'%c; fresh graded firsts, 15%c; current receipts, 23 3 /4<Bl3 3 /*c; dirties, No. 1. 12c; No. 2, lie; 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% scorel, 22@22'%c; seconds (86-87% score), 21@21*%c; extras 192 score), 24'4c; specials, 24%@25%c; standards. 24 Vic; 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%(817'%c; fryers, Plymouth Rock, 25c; springers, 26c; spring geese. 13c; turkeys. 14c; old ducks, 7<B9c. Cheese —Twins, 13%<@13%c; Longhorns. 13%@ 14c; Daisies. 13%(®14c. Potatoes—Old stock, supply moderate; demand and trading light: market, dull; Idaho russets, [email protected]: combination grade, $1.10; new stock, supply moderate; demand and trading moderate; market weaker; Alabama Triumphs, $1.5n®>1.60; Louisiana Triumphs, $1.50(01.65; Arkansas Triumphs, $1.55(51.60; Oklahoma Triumprs, $1.50(0 1.60; Louisiana long whites. $1.60. Arrivals. 115: on track, 216; shipments. 1,400. NEW YORK, June 15—Potatoes—Steady; Southern, [email protected] barrel; Maine. sl.lO ® 2.40 barrel. Sweet potatoes—Steady; Jersey basket, [email protected]. Flour—Quiet; springs: patents, $7.25(07.50 barrel. Pork —Quiet; mess, $20.25 barrel. Lard—Firm; middle west spot, [email protected] per 100 lbs. Dressed poultry—Firm; turkeys. 13@27c; chickens, B®3lc; broilers. 23®:31c; capons, 25(035c; fowls, ll®)17c; ducks, 13<014c; Long Island ducks, 14'%@15c. Live poultry —Steady; geese, 6@7c; turkeys, 11 (Si J 7c; roosters, 8c; ducks. B<@l2c; fowls, 12®>i5c; capons, 22c; broilers, 10®>27c. Cheese— Easy; state whole milk fancy to specials. 18® 19c. Eggs—Receipts, 13,510 cases; market. Irregular; special packs, including unusual hennery selections. 18 %(0 21%c; standards, 17%®18c; firsts. 16c; seconds, 15@15'%c; mediums, 14@14'/*c; dirties, 14%c; checks, 13'%c; storage packs, 16%@16%c. Butter —Receipts, 11,283 packages; market closing firm; creamery, higher than extras, 25'/*@26c; extra (92 score), 24%%25c; first (90-91 score), 24'/* @24%c; first (88-89 scorel, 23'%@24c; seconds. 22%(023'/*c; centralized (90 score), 24'/c; centralized (88-89 score). 23'%<®24c; centralized (84-87 score), 22%@23*%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, 13(014c; colored fowl medium. 13 @ 14c; broilers colored ordinary, 22(023c; old roosters. 9c: ducks, white, 5 lbs. and up. 14@15c. Potatoes—North Carolina [email protected] per bbl.

On Commission Row —June 16— —Fruits— Apples—Fancy Winesaps, $2.25®2.35. Cherries—Home grown. 24-qt. crates. $2 @2.50. Oranges—California. Sunkist. [email protected]; Valentias, $5.50®5.75. Lemons—Sunkist. $8; Red Ball. SB. Grapefruit—Florida seedless, $3.75@4. Strawberries—Home grown. 24-qt. crate, $2.50®3; 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, $3.50®4.25. 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: iumbo 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 1 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, [email protected]; Illinois Transparents, [email protected] bushel. Carrots—Southern, $2 35® 2.50 crates. Spinash—lllinois, 15® 50c bushel. Cucumbers—Central western hothouse, 90c®51.50, 2 dozen to box. Tomatoes—Texas, [email protected] lug box. Sweet potatoes—Tennessee, $1.90@2 bushel hampers. Mushrooms—lllinois, 15@40c. pound cartons. Asparagi#—lllinois, 75@90c box. Strawberries—Michigan, $1.25®2.50. 16 quarts. Onion market. 50-lb. sacks—Texas yellows, [email protected]; Texas whites. $1.40 ®1.50.

The Strong Old Bank of Indiana The Indiana National Bank of Indianapolis

Cash Grain

—June 15— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 41'% New Y Wheat—'Strong: No. 1 red, 88%@89%c; No. 2 red, 87'%@88Vic; No. 2 hard. 87%@ 88 %c. Corn—Weak; No. 2 white, 57®58c: No. 3 white, 56(857c; No. 2 yellow. 53@54c; No. 3 yellow, 52(8 53c; No. 2 mixed, 52@53c: No. 3 mixed, 51(8 52c. Oats—Steady, No. 2 white. 40@41c; No. 3 white, 39(040c. Hav (f. o. b. country points taking 23%c or less rates to Cincinnati or Louisville) — Firm; No. I timothy, [email protected]. —lnspections Wheat—No. 2 red. 2 cars. Total. 2 cars. Corn—No. 2 white, 4 cars; No. 3 white, 5 cars; No. 4 white, 4 cars; sample white, 1 car; No. 2 yellow. 4 cars; No. 3 yellow. 5 cars; No. 4 yellow, 1 car. Total. 24 cars. Oats—No. 2 white, 2 cars; No. 3 white. 2 cars; No. 4 white. 2 cars; sample white. 1 car. Total, 7 cars. Local Waron Wheat City grain elevators are paying 85 cents for No; 2 soft reo wneat. Otner grades on their merits. (By Onited Pressi CHICAGO, June 15.—Cash grain; Wheat —Sample red, 90c; No. 5 mixed. 90 Vic. Corn—No. 3 mixed, 59*%c: No. 2 yellow, 60®60%c; No. 3 yellow. 60c; No. 2 white, 64c; No. 3 white, 62%<063c; No. 4 w.-Ute, 61%c. Oats—No. 2 white, 44'/c; No. 3 white. 44@44'%c; No. 2 mixed feed. 43%0. Rye—No sales. Barley—Sales. 90@93c; quotable 56c®$l. Timothy—sß.so(B 9. Clover Seed—slo(B)l3.7s. Cash provisions —Lard, $6.72; loose, $6.25; leaf. $6.25; bellies, $9.72. TOLEDO, 0., June 15.—Grain close: Grain in elevators, transit billing: Wheat —No. 2 red, 97%®:98%c. Corn—No. 2 yellow, 621063 c. Oats —No. 2 white. 48(0 49c. Rye—No. 2, 7O(071c. Track prices, 28%c rate: Wheat—No. 1 red. 94®'94%c; No. 2 red, 93(8 93Vic. Corn—No. 2 yellow, 57'.2(858%c: No. 3 yeUow. 56%®57%c: No. 3 yellow, 55%<856'%c. Oats—No. 2 white, 45@46%c; NO. 3 white. 44%®46c. Seed close—Clover—Cash, $8.25. Alsike—Cash, $8.50. ST. LOUIS, June 15.—Cash grflin: Wheat—ln fair demand, steady to Vic lower on red and %c higher on hard grades; No. 2 red winter. 93'%@94'%c: No. 2 red garlickyy, 88(8900; No. 2 hard wheat, 96%c nominal: No. 5 hard. 91'%c; sample grade hard. 84c. Corn—ln slow demand, unchanged to %c higher; No. 2 mixed. 60c; No. 2 yellow, 61 Vic; No. 3 yellow. 60Vic; No. 4 yellow. 60c. Oats—ln limited demand, ungraded; No. 2, white, 45c nominal. NEW YORK. June 15.—Cash grain: Wheat—No. 2 red. $1.12'/*; No. 2 hard winter. $1.14'/*. Corn—No. 2 mixed. 64'/*c. Oats—No. 3 white, 53%c. CHICAGO PRIMARY RECEIPTS —June 15— Bushels. Today. Last Week. Corn 308,000 419.000 Wheat 632,000 549.000 Oats 123,000 112,000

Bright Spots “”(Bv Abbott. Hoppin & Cos. - ~

Electric Bond and Share Company declares the regular quarterly diviends of $1.50 a share on 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 and subsidiaries report for twelve months ended April 30 shows a consolidated net income of $1,212,966 after charges, equivalent to $2.02 a share on the 600,000 shares of $6 preferred stock outstanding. This compares with $2,663,322 or $4.43 a share on the preferred stock in the previous twelve months. Gross income during the Reriod amounted to $71,846,549 as compared with $73,263,268. Marriage Licenses Joseph McDonald, 25, of 450 Shelby street, piano technician, and Dorothy Spey, 17. of 1028 English avenue, housekeeper. Dennis McAnnich, 21, of 1116 North Capitol avenue, chef, and Genevieve Rahm, 24. of 422 North) Wallace street, housekeeper. Clayton Hatch, 22, of 1121 North Ewdng street, stitching maching operator, and Grace Mowbray. 19. of 1123 North Ewing street, taping machine operator. William Otto, 25, of 5425 College avenue. inspector, and Dorothy Lambert. 26, of 2822 North New Jersey street, teacher. Leslie Isted, 26, Medina, 0., music teacher, and Jeanette Hill, 29, of 5714 University place, music teacher. Allen Myers, 21, of 856 West Twentyseventh street, porter, and Dorothy Edelen, 21, of 1907 South Churchman avenue, housekeeper. Curtis Himes. 28, of 2235 West Miher street, truck driver, and EIIC Crawford, 26, of 1254 South Harding street, housekeeper. Sam Edwards, 53, of 953 West Twentyfifth street, laborer, and Susie Tyler, 46, of 449 West Thirteenth street, laundress. Roy Cox, 21, of 906 Villa avenue, tire shop employe, and Edna Saleba, 22, of 1242 Law'ton street, stenographer. Forrest Carrol, 22, of 2320 Irwin street, broker's clerk, and Roberta Pearson. 23, of 1209 Woodlawn avenue, telephone employe. Duane James. 23. of 625 East wentysecond street, truck driver, and Lois Hov, 20, of 230 East Ninth street. Real Silk seamer. % Walter Fultz. 44. of 265 North Mount street, truck driver, and Janice Johnson, 22. of 1128 Spruce street. Inspector. Joseph Moran, 21, of 1309 East New York street, clerk, and Laura Birmingham. 21, of 468 North Randolph street, bookkeeper. Eugene Raines, 29, of 2438 Guilford avenue, purchasing agent, and Marie Wallman, 26. of 2333 Ransdell street, teacher. Charles Keener. 44. Marion, Ind, dentist, and Elizabeth Sarber, 45, Washington hotel, housekeeper. Cornelius Allen. 38, of 942 North Sheffield avenue, laborer, and Della Rhyne. 33. of 941 Sheffield avenue, housekeeper. Oliver Snyder, 38, of 329 West Fortieth street, dispatcher, and Mary Nicodemus. 25. of 586 North drive. Woodruff Place, housekeeper. Births Girls Raleigh and Altha Foreman, 1729 Lambert. Boy? Norman and Annette Edwards, 707 South Keystone. Lee and Thelma Brown, 1502 Finley. Arlie and Dora Holderfield, 2012 Caroline. Deaths Horace Thomas Wade, 45, of 1437 Minocqua, cerebral hemorrhage. Mary Ellen Moore, 77. St. Vincents hospital. myocarditis. A. W. Snyder, 81, of 427 North De Quincy, cystitis. John Garver Waggoner, 58. of 1544 Spruce, carcinoma. Alice Emma Osborne, 54, city hospital, septicaemia. Elizabeth R. Day, 69, of 2934 North Chester, chronic myocarditis. Alexander Julius Schumacher, 53. of 1538 North Dearborn, cirrhosis of liver. Jasper N. Shirley, 78, of 116 South Emerson. cerebral hemorrhage. Howard Huston, 14, Riley hospital, anemia. Plumbing Permits C. A. Johnson, 2351 Massachusetts, two fixtures. A. Bremer, 3897-9 English, five fixtures. C. A. Johnson, 2355 Massachusetts, two fixtures.

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..'JUNE 16, 1934

LOCAL DEMAND FORCES MAJOR GRAINSUPWARD Uneven Selling and Hedging Pressure Are Weak Factors.* BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, June 16.—Scattered liquidation and hedging pressure tore down an early advance in wheat prices on the Chicago Board of Trade yesterday. Prices were mixed at the close. A spirited wave of local buying toward the last carried wheat Vi to ■% cent higher than the previous close. Corn was off % to % cent, and oats were unchanged to % cent higher. An early upturn of about a cent in wheat was wiped out and replaced by a moderate loss, though good support was apparent on the downside. Announcement Germany was prohibiting exports of wheat and wheat flour were regarded as a confirmation of recent reports regarding an unfavorable crop outlook in Europe, especially in parts of Germany, the Danube basin and Russia. Exporters were good buyers of wheat in Winnipeg. Liverpool closed Vi to % cent higher with no material pressure on the market. Australia reported an urgent need for further rains. In the meantime complaints of further damage by chinch bugs came pouring in. The bug was said to be migrating from wheat and oats fields into corn. There was a moderate upturn in the market early, but this was followed by a sharp decline when wheat started down. Oats averaged lower in sympathy with other grains and there was little activity in this pit. Argentine exported 138,000 bushels of oats to the United States this week. Provisions were higher early, but later reacted.

Chicago Futures Range United Press) Wheat— Prev July.....° PP e n 4 L °9?’ °? 9 °& C 9*4 ** SeP 4 95% .96% .93% .95% 94% Dec 96% .97% .95% .96% .96% Corn—- ® e Pt, 59% .60% .58 % .59% 59% Dec 61% .61% .59% .60'% ’.61 % Oats— July 42% .44*4 A'Vm 4374 40 y. SePt % .44% .42% ;S4 IkDee 44 % .45 .44'/* .44% .44% Rye—p®P tr 67% .67% .66% .67 .66% Dec 69% .70 .68% .69% .69 Barley— Julv 56% .56% .56 .56% .56% Sept 54% .54% .54 .54 .54% Lard— July 6.80 6.80 6.67 6.70 677 Sept .... 7.10 7.10 7.00 7.02 707 Oct .... 7.20 7.20 7.10 7.10 7!17 Nov 7.27 7.27 7.20 7.20 7.27 Dec 7.40 7.42 7.30 7.20 7.37 Jan 7.42 747 Bellies— J uI V 9.30 9.30 Sept 9.60 9.60 ACME STEEL DECLARES EXTRA STOCK DIVIDEND Lemer Store Corporation to Pay §1.62 on Preferred. By Times Special CHICAGO, June 16.—Directors of Acme Steel Company this week declared an extra dividend of 12V4 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 $1.6214 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 dividend payments. Hupp Prices Sliced By 'Times Special CHICAGO, June 16.—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.

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