Indianapolis Times, Volume 46, Number 32, Indianapolis, Marion County, 18 June 1934 — Page 8

PAGE 8

Wall Street German Moratorium May Prove Beneficial in Long Run. BY RALPH HENDEKSHOT

Times Special Financial Writer 'T'HE moratorium Germany has just declared on her debt payments to this country may prove more beneficial than otherwise in the long run. It may result in the return to the United States of much of the money which took flight from here during the last year or so, due to the

infla t i o n scare. And the return of this money would prove an important stimulus t o business. As pointed out in this column a month or more ago, G e r many’s gold reserve has been reduced to very small pro-

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Ralph Hendershot

portions, 'and she is bound to have difficulty in remaining on the gold standard, even to the extent she has in the past. And her complete disregard for the rights of outsiders, as indicated by the moratorium, might have an important effect on the monetary policies of other European countries. At any rate, many people both in this country and in Europe may jump to that conclusion, w r hich would be enough to start the movement of free capital back to the United States. That this is not entirely a supposition is proven by the fact that gold already has begun to move toward these shores. Several million dollars of the metal has been received here during the past week. This money is unlikely to remain idle whether it is deposited in the banks or is placed in the securities markets or finds some other berth. It will compete with the surplus of funds already available and is likely to find reflection first in the bond market and then in stocks, and business stands an excellent chance of getting the credit it has so sorely needed all through the depression. an u ANOTHER natural development which may be expected to result from the moratorium is that investors are likely to steer clear of foreign loans for a long time to come. Experience encountered in connection with foreign loans already have soured American investors in such securities, but in most instances in the past nonpayment has been associated with inability to pay. Many people believe Germany could pay if she would — which, of course, makes a difference. And when one stops to consider the statement made earlier this week by George N. Peek, foreign trade adviser to President Roosevelt, that, despite the fact that we have had a $36,000,000,000 export surplus of goods during the last thirtyeight years, we have received no cash profits on the transactions, the full importance of that factor becomes more evident. The paper profits were wiped out by loans which have not been repaid. nun TJROBABLY we can not expect to export as much goods in the future as we have in the more recent past Tmless we are willing to grant liberal loans, but if we do not make loans our export surplus; such as it is, will be payable in cash and the cash will be available for reinvestment. And if this cash helps to establish a lower rate of interest than we have ever had before the cost of manufacture will be reduced and we can produce goods cheaper. To carry the thought further, lower prices for goods would make them more accessible, and people should be able to consume more and live better. N; Y. Coffee, Sugar Futures COFFEE —June 15— —Santos—- ,, . High. Low. Close. March 11.05 10.95 10.95 May 11.11 11.03 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 8 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 8.60 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 July 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 16— CHICAGO High. Low. Close. January 12.54 12.42 12.42 March 12.64 12.54 12.54 May 12.74 12.65 12.65 July 12.10 12.04 12 04 October 12.39 12.23 12 23 December 12 48 12.37 12.37 NEW YORK January 12.47 12.36 12.36 March 12.57 12.44 12 47 May 12.68 12.57 12.57 July 12.05 11.94 11.95 October 12.30 12.18 12.18 December 12 29 NEW ORLEANS January 12 32 March 12.52 12 43 12.43 July 12.04 10.94 11.94 October 12.27 12.15 12.16 December 12.38 12.26 12.28 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 sl4 25 Brazil lump 575 Brazil egg 6.25 Brazil mine run 5.00 Coke, nut size 8.75 Coke, egg size 8.75 Indiana forked lump 5.5005.75 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 eoaL and $1 a ton for coal carried to bin Richfield Operates at Loss By Timet Special CHICAGO, June 18. —An operating loss of $217,000.00 was recorded by the Richfield Oil Company for the month of April, William O. McDufffie, receiver, testified yesterday before Judge William P. James, United States district court, lios Angeles.

STOCK VALUES STEADY, FIRM IN ACTIVETRADING Bond Prices Turn Uneven; Cotton Moves Down 3 to 7 Points. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 18.—Stocks opened steady to firm in moderately active turnover, while cottcv firmed 3 to 7 points, and bonds moved irregularly in quiet trading. Utilities were again in fair demand. Rails were unchanged. Steels were steady to firm as were silvers. Small advances were noted in Bethlehem Steel, American Commercial Alcohol, Consolidated Gas, North American, Public Service. Western Union, Auburn Auto, Standard Brands, and Texas Corporation. Among the issues opening at the previous close were U. S. Steel, American Can, Kennecott, International Telephone, New York Central, Woolworth, and General Motors made small declines. During the early trading volume shrank with prices fluctuating irregularly around opening levels. Money and Exchange INDIANAPOLIS BANK CLEARINGS —June 18— Clearings $1,938,000.0*0 Debits 5,088,000.00 FOREIGN EXCHANGE (By Abbott, Hoppin & Cos.) —June 16— ... .. „ , Close. Sterling, England $5.05>/ 4 Franc, France 0660% Lira, Italy 0 862 Belgias. Belgium "..... 2339 Mark. Germany Guilder. Holland 6784 Peseta, Spain [1370 Krone, Norway 2538 Krone. Denmark 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 $2,959,720.509 49 Cash Bal 51.925.119,761.20 Investment Trust Shares (By Abbott, Hoppin & Go.) —June 3.6 . Bid. Ask. American Bank Stocks Corn . .$ 1.13 $ 1.18 American & General Sec A.. 4.00 4.50 American & Inv Tr Sh 1.75 Basic Industry Shares 342 350 British Type Inv Tr Sh 45 .50 Collateral Trustee Shares A ... 4.72 480 Corporate Trust Shares (old).. 2.15 2.20 Corporate Trust Shares (new). 2.37 2.40 Cumulative Trust, Shares 4.72 4.25 Diversfied Trust Shares A 6.25 Diversified Trust Shares B 7.87 8.00 Diversified Trust Shares C ... 3.10 3.15 Diversified Trust Shares D 4.87 5.00 First Insurance Stock Corp... 1.23 1.27 First Common Stock Corp 68 .71 Fixed Trust Oil Shares A 8.50 .... Fixed Trust Oil Shares B 7.50 .... Incorporators Investments .... 18.00 13+0 Land Bank Bond Shares 1.18 1.31 Low Priced Trust Shares 6.10 6.20 Mass Inv Trust Shares 18.75 20.25 Nation Wide Securities 3.38 3.42 North Am Trust Shares (53) . 192 1.98 North Am Trust Shares (55-56) 2.41 2.44 North Am Trust Shares (58)... 2.37 2.42 Selected American Shares ... 2.60 .... Selected American Shares Inc. 1.19 1.28 Selected American Shares 6.60 Selected Income Shares 3.42 3.87 Std American Trust Shares A. 2.95 3.00 Trust Shares of America 2.75 2.80 Trustee Std Oil A 5.30 6.10 Trustee Std Oil B 5.37 5.62 U S Electric Lt & Pwr A 12.75 13.00 Universal Trust Shares 3.18 3.22 New York Bank Stocks (By Abbott, Hoppin & Cos.) —June 16— Bid. Ask. Bankers 62% 63 Brooklyn Trust 110 114 Central Hanover 123 129 Chase National 28V 4 18% National City 28% 23 Chemical 41 41% Continental 14 14 % Corn Exchange 51% 51% Empire 19% 19% First National 1,720 1,730 Guaranty 372% 374% Irving 17% 17% Manhatten & Cos 31% 32% Manufacturers 21% 22% New York Trust 108% 109% Public 34% 35% Daily Price Index (Bv United Press) NEW YORK. June 15.—Dun & Bradstreet's daily weighted price index of thirty basic commodities compiled for the United Press. 11930-1932 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. 3) 101.05 (Copyright, '34. by Dun & Bradstreet. Inc.) Marriage Licenses Louis Wells. 23. of 1220 North Tremont avenue, laborer, and Iris O'Cain, 22, of 812 Tarbett street, housekeeper. Edwin Voll, 31. of 3847 Hoyt avenue, mail carrier, and Martha Cain, 23, of 4357 English avenue, stenographer. Raymond Smith, 34. city, painter, and Gertrude Buck. 33, of 1328 West Thirtyfourth street, mechanic. Floyd Ross, 24, of 2605 East Riverside drive, student, and Mary Shields. 23, of 3758 Park avenue, housekeeper. Harvey Middleton, 39, of 1921 Hendricks street, physician, and Stella Walker, 36, of 3745 Graceland avenue, teacher. Paul Laughlin. 22, of 306 Leeds avenue, ice man, and Lola Goolsby, 19. of 333 South Rural street, housekeeper. Joe Johnson, 37, of 317 Robton street, salesman, and Virginia Cambridge, 37. of 317 Robton street, housekeeper. William Hurt, 22, Greenwood. Ind., carpenter. and Sarah Pierson. 20. R. R. 7. Box 330. housekeeper. Carl Griffith. 23, of 1615 Nowland avenue. clerk, and Frances Felix, 18, of 1484 Roosevelt avenue, factory worker. Harry Easter. 35, of 616 East Thirtyfourth street, contractor, and Hazel Hill, 35, of 2936 Central avenue, clerk. Anthony Caruso, 25, of 518 South East street, fruit dealer, and Marjorie Swope, 21, of 2153 Ransdell street, housekeeper. Kenneth Cogswell, 23, of 1864 Fallman street, truck driver, and Helen Jayne, 16, of 1506 East Seventeenth street, housekeeper. James Blythe, 23, of 164 Blue Ridge drive, engineer, and Marjorie Horner, 21, of 3510 North Meridian street, secretary. Lloyd Ault, 24, Spencer, Ind., school teacher, and Mary Thomas, 22, of 1316 College avenue, housekeeper. Herbert Alley, 29. Kentucky avenue and Eagle Creek, engineer, and Helen Elder. 28, of 1649 Union street, stenographer. James Moylan, 31, of 1532 North Dearborn street, clerk, and Nora Carroll, 33. of 1621 East Vermont street. Morris Cohan, 32, of 1116 North Capitol avenue, commission house, and Gertrude Fansler, 32, of 1116 North Capitol avenue, housekeeper. David Moriarty. 22, of 716 North Bosart avenue, bank teller, and La Vonne Slick, 20. of 337 North Riley avenue, housekeeper. Charles Harmening. 30, of 1521 North Dearborn street, buyer, and Florence Huebner, 26, of 2103 Webb street, clerk. William Hollister. 23. Yellow Springs, 0.. restaurant manager, and Alivaine Trimmer, 19, of 2062 North New Jersey street, housekeeper. RUBBER DEMAND DROPS United States Consumption During May Dips to 43,012 Tons. By Times Special NEW YORK, June 18.—Crude rubber consumption by manufacturers in the United States during May totaled 43,012 tons as compared with 44,947 tons in April, and 44,074 tons in May last year, according to the Rubber Manufacturers’ Association. Total domestic stocks of crude rubber on May 31 amounted to 351,329 long tons, according to an estimate of the association, a decrease of 8.1 per cent below the same date last year. Freight Volume Gains By Times Special CHICAGO, June 18.—Chicago, Milwaukee, St. Paul & Pacific Railroad Company revenue freight volume in the first two weeks this month totaled 46,873 cars, as compared with ,45,563 cars in the first two weeks es May, and 47,526 cars in the fiift half of June, 1933.

New York Stocks I Bv Abbott Hoppin & Cos.)

AVERAGE STOCK PRICES FOR SATURDAY Net High. Low. Close, change. Thirty industrials 100.27 99.33 99.85 +1.15 Twenty rails 46.27 45.80 46.25 +I.OO Twenty utilities 25.13 24.59 25.08 +.62 Forty bonds .... .... 95.04 + .14 Ten first rails .... .... 101.74 +.02 Ten second rails .... 82.52 +.32 Ten utilities .... 98.71 -v.09 Ten industrials .... 97.21 +.16 + Up.

—June 18— Prev. Oils— High. Low. 10:30. close. Atl Rfg 27% ! Barnsdall 8 8 I Consol Oil 11V* 11% Cont of Del 20% 20% Houston (new) 3% Houston (old) 22% Mid Cont Pet .... ... ... 13 % Ohio Oil 12% 12% Phillips Pet 19% Plymouth Oil 12% 12% Pure Oil 11% Sbd Oil 35 % Shell Un ■ 8% Soc Vac ... 16% 16 Vs S O of Cal 37% 37 S O of N J 47 47% Texas Corp 25% 25 Tidewater Assn 13 13 % Un Oil of Cal 17% 17% Steels— Am Roll Mills .... 21 21% Beth Steel 36% 36 Byers AM 24% Col Fuel & Iron 7 Cruc Steel 25 Ludlum Steel 15 Natl Steel 44 Otis Steel 5% Rep Iron & Stel 18% 18% Rep Ir &St pfd -. ... 50% 50 U S Pipe & Fdy 25% 25% U S steel 43 42% 42% 43 U S Steel pfd 89 Warren Bros Youngstn S & T 23% Motors— Auburn 27% 27 Chrysler 43 43% Gen Motors 33 33% Gen Motors pfd .- • .• • 103 Hudson 12% 12% 12% 12% Macic Truck 28 28 4 Nash I]% Packard - 4 4 Reo 3% Studebaker 4% 4% Studebaker 4% 4% Motor Access— Benedix ... 16% 16% Bohn'Alum 56% Borg Warner 24% 24 % Briggs 17% 17% Buda Wheel 3% Eaton Mfg 18% Elec Auto Lite •. 23% Houdaille (A).. .. ... ••• 12% Murray Body 7% 7% Timken Roll 31% Timken Det Axel 7% 7% Mining— Alaska Jun 20% 20 20 20% Am Metals 23% Am Smelt ... 43 43 % Anaconda 16% Cal & Hecla 5 4% Cerro de Pasco.. 40 39% 39% 40% Dome Mines 43% 43% Granby 11% Gt Nor Ore 12 Howe Sound 55% 55% Int Nickel 27 27% Int Silver 32 Kennecott Cop 23 23 Mclntyre Mine 49 Noranda Cop 44% 44% Park Utah 4% Phelps Dodge ..# 18 St Joe Lead 21% U S Smelters 132 Vanadium 24 Amusements— Crosley Radio 17V 4 Fox Thea 15% 15% Loews Inc 32% 32% Radio Corp 7 5 /s 7% RKO 2% 2% Warner Bros 6% Tobaccos— Am Tob (A) 71% Am Tob (B) 74 74 Lig & Myers (B) 97% 97 97 % 97% Lorillard 18% 18% Reynolds T (B) 45% 45% Rails— Atchison 62 62 Atl Coast Lines 42 42 B & 0 26 26 Can Pac 15% 16 Ch & Ohio 48% 48% Chi & Gt W pfd 8% CM SiStP 5% .. C M & St P pfd 9 Chi N W 10% 10% Chi N W pfd 19 Dela & Hud 56% Del Lac & W 25 Erie pfd 27% 26% 27% 26% Grt North pfd.. 24% 24% 24% 24 111 Central 27% K C Sou 14% Lehigh Valley 17% M K & T 10% M K & T pfd 25% Mo Pac ... 4 Mo Pac pfd 6% N Y Cent 32% 32 32 32% N Y C & St L 21% N Y New Haven 16% 16% N Y Ont & West 7% Norfolk & Wes 180% Nor Pac 26% Perm R R 32% 32% 32% 32 Reading 48 % Sou Pqc ... 25% 26 Sou R R 4 28 Sou R R pfd ■ 34% Union Pac 125 West Maryyiand 13% Equipments— Allis Chalmers. .. ... .■ 17% Am Car & Fdy 22% 23 Am Loco 26% 25% Am Mach & Fdy 15% Am Steel Fdy 17% 17 Bald Loco ... . ■ 11% Burroughs 14% 14% 14% 14% Case J I 55 54% Cater Tract 27% Deere &Cos 21% 21% Elec Stor Bat 42% Foster Wheeler 16% Gen Am Tk Car 39% Gen Elec 21 Gen R R Sig 34% Ingsol Rand 62 Int Bus Mach .... . ■ . 139% Int Harvester .. 33% 33 33 32% Natl Cash Reg . 17 16% 17 17 Pullman Inc ... 51% Rem Rand 11 10% Und Elliot . 47 West Air B .... 23V* 22% 22% 23% Westingh Elec 38% 39 Utilities— Amb & For Pwr 9% Am Pow & Lit 8% 8% AT&T 117% Am Wat Wks 20% 21% Brook Un Gas 68% 68 Col Gas & Elec 15 15 Com & Sou 2% 2% Consol Gas ... 35% 35% 35% 35% Elec Pwr & Lit.. .. ... .. 6% E P & L pfd , 15% Int Hydro Elec ... ... ... 7% Int T & T 14% 14 14 14% Nat Pwr & Lit.. ... 11 11% North Amer .. 19% 19% 19% 19% Pac G & E 19% 19 Peoples Gas 35% 35% Postal Tel pfd 17% Pub Serv N J . 38% 38% 38% 38% So Cal Edison.. . 16% 16% Std Gas .. 12% 12% 12% 12% Std Gas pfd 13% 13% Stone & Webster 9% 9 9 9 Unted Corp 6 5% Un Gas Imp 17 Ut Pwr & Lit A. ... 3% 3% Western Union.. 49% 49% 49% 49 Rubbers— Firestone 18% Goodrich 14% Goodyear 31 Kelly Spring 3% U S Rubber 20% 20% U S Rubber pfd 50 50 Miscellaneous— Am Bank Note 22 21 7 /* Am Can 98 98 Brklyn Man Tr 38% 39% Conti Can 80 Crown Cork 27 Curtis Pub . * 24 Curtis Pub pfd 80% Eastman Kodak 99% Gillette 10% 10% Glidden 26% 25’/* 26 25% Foods— Am Sugar 62% Armour A 5% Beatrice Cream • 17% 17% Borden Prod ... 27% 27 27% 27 Cal Packing 33% 33% Can Dry G Ale 22 Corn Prod 69% Crm of Wheat ... 33 Cuban Am Sug 7% 7% Gen Foods 32% 32% 32% 32% Gold Dust 20% G W Sugar 33% 33% Natl Biscuit .. 36% 36% Natl D Prod 18% 18% 18% 18% Purity Bak 14’/* .. . S Porto Rico S. • • . 35% Spencer Kellog . 21% 21 21 Std Brands 21% United Fruit 74% Wrigley 64% Retail Stores — Asso Dry Goods 13 First Natl Stores 65 Gimbel Bros 4 Gimbel pfd 23% Hahn Dept Sts 5% Kresge S S 19% 19 Kroger Groc 31% Mack R H '... 43% 43 Marshall Fields 15% 16 Mont Ward ... 29% 29 29 29% Penny J C ... . 60% Safeway St 51% 52% Sears Roebuck . 45% 45 45 45% Woolworth 52% 52% Aviation— Aviation Corp 7 7 Curtiss Wright 3% 3% Curtiss Wr (A) 11% 11 Douglas Air 22% 22% 22% 22% Nor Am Av 4% Sperry Corp 9% 9% United Aircraft 21% 21% Wri Aero 57 Chemicals— Air Reduction 101% 101% Allied Chem 141 % 141 Am Com Alcohol 38% 38% Col Carbon 75% Com Solvents . 24% 24% 24% 24% Dupont 92% 92% Freeport Tex 34% 33% 33% 35% Liquid Carb 30 30% Math Alkali 34% 34% Montosonta Ch 49 48% Natl Dis (new) 26% 26% Scheneley Dist. .. ... 30% 30% Tex Gulf Sulph 35% 35% 35% 35% Union Carbide ... ... 44% 44% U S Indus Alco 44% 44 Virg Ch 6% pfd 17% ... Drugs— Coty Inc 6% • 6% 5% Lambert 26% Un Drug -j ... 16% ... Zonite Pro •>••• m! *•% 5%

THE INDIANAPOLIS TIMES

Financial — Adams Exp ... 9% 9% Allegheny Corp 33 Am Int Corp 9 Chesa Corp . 48% Lehman Corp 70% 70% Transamerica ■. 7 6% 6% 6% Tr Conti Corp 4% Building— Am Radiator .. 14% 14% 14% 14% Gen Asphalt • 20% Int Cement 27% 27% Libby Owens Gls .. ... 33% 33% Johns Manville. ... 54 54% Otis Elev 16% 16% 16% 16% Ulen Cont 2% Household— Col Pal Peet.... 16% 16% 16% 16% Congoleum • 28% 28% Kelvinator 19% 18% 18% 18% Mohawk Carpet 18% Proc & Gamble 35% 35% Simmons Bed .... 17% Textiles— Belding Hem 13% Celanese Corp 27% Collins Aikman 18% Gotham Hose 8% Indus Ravon 26 26 26% ... New York Curb (By Abbott, Hoppin & Cos.) Close.l Close. Allied Mills ... BV 4 jHumble Oil ... 45% Alum Cos of Am 70'/ 4 |lmp Oil Ltd ... 15% Am Cyanide B 18%llnt Petrol 30 Am & Fo Pr W 6 jLake Shore Min 53% Am Gas &El 27%!Libby McN Lib. 6 Am Superpower 2%:Lone Star Gas . 5% Asso Gas & El. % Natl Bellas Hess 3% Atlas Corp ll%|Nia Hud Pwr .. 6 Cities Serv .... 2%|Novadel Agene.. 21% Cord Corp 4% I Park Davis .... 24 Deere & Cos ... 21%jPenn Road .... 2% Distillers Lim . 22%iSt. Regis Paper. 3% Distillers Corp. 17 JSal Crk Prod .. 7 El Bond & Sh.. 17%]Sherwin Wms.. 68 Fisk Rubber ... 12%|Std of Ind 27% Ford of Can A. 22%!Std of Ky 16% Ford of Europe 8 I Technicolor Ind 14% Glen Aid Coal. 17 |Teck Hughes Go 6% Gulf Oil of Pa. 68%|Un Gas 3 Hiram Walker. 37%iUn Pwr & Lit A 3% Hud Bay Min.. 14 IWr Harg Min... 9%

Chicago Stocks i,i,— ii. (Bv Abbott. Hoppin & Cos.)

—June 18— High. Low. 11:30. Berghoff 8% Bastian-Blessing 5% Borg-Warner 24% 24 24 Butler Bros 10 9% 9% Cent & So West 1 Chicago Corp com 2% Chicago Corp pfd ... 27 Cijies Service 2% 2% 2% Commonwealth Edison. 56 54% 55 Cor Corp 4% Crane Cos 9% Electric Household 15% Gen Household Ut 13% 12% 13% Iron Fireman 16 Libby McNeil 6 Middle West Utilities 6 Pines Winterfront % % % National Standard 26% Quaker Oats 114 Swift & Cos 17% Swift International .... 31% 30% 3114 Utility & Ind 1% Utility & Ind pfd 3% Vortex Cup Cos 13%

Bond Prices (By Fenner & Beane)

—June 18— High. Low. 10:30. Alleg Corp 5s ’SO 41% 41 41% Am & For Pwr 5s 2030. 54 53% 53% A T & T db 5s ’65 109% Atchison Gen 4s '95 103 102’/* 103 B & O cv 4%s ’6O 67% Beth Steel 5s A ’36 102% Can Pac 4s 83% 83 V* 83% CMStP&P adj 5s A 2000 111’/* 111% 111% CMStP&P rs 5s A ’75 44% 44 44 Cons Gas N Y 4%s ’sl 104% Erie R R rs 5s ’67 75% Goodyear 5s ’57 99% Gt Nor 7s A ’36 95% 95 95 Interboro RT 5s ’66... 70% 70V* 70% Int T & T db 5s ’55 67% Lorillard 5s ’44 ... 122% McKess & Robb 5%s ’SO 84% 84% 84% Nat Dairy db 5%s ’4B .. 98 97% 98 N Y Cent 4%s O 2013 77% Nor Am 5s '6l 90 89’/8 89% Pac Gas & El 5s A '42 106’/* Penn R R 4%s D ’Bl • t 98 Poland 7s ’47 110% Sin Cons 6%s B ’3B 104% Texas Corp 5s ’44 103 Un Pac Ist ’47 106% U S Rubber 5s A ’47 87 86% 86% Vanadium 5s ’4l 82% Ygstwn S & T 5s B ’7O 83% U. S. GOVERNMENT BONDS (By United Press) NEW YORK, June 16.—Closing Liberties (Decimals represent thirty-seconds): —Liberty—--3%s (32-47) 104 4 Ist 4%s (32-47) 102.30 4th 4%s (33-38) 103.22 —Treasury—--414s 314s *45) ,* 103 28 4 Vis (47-52) 113.15 3%s (41-43) March 105 3 3+gs (40-43) June 105.6 3’4s (43) 105.4 7V*S (46-49) 102.11 is (51-55) 101 13 FEDERAL FARM LOAN BONDS (By Blyth & Cos.. Inc.) —June 16— . „ . Bid. Ask. 4s Nov. 1. 1957-37 100% 101 % 4s May 1. 1958-38 100% 101‘/a 4>4s July 1 1956-36 101 101% 414s Jan. 1. 1957-37 10114 101% 4 1 4s May 1. 1957-37 101% 101% 4%s Nov. 1. 1958-38 101% 102% 4%s May 1, 1942-32 100% 101% 4%s Jan. 1. 1943-33 100% 101% 4%s Jan. 1. 1953-33 100% 101% 4Vis July 1. 1953-33 100% 101% 4%s Jan. 1. 1955-35 100% 101% 4%S Jan. 1. 1956-36 101% 1021a 4%s July 1. 1953-33 101V* 101% 4%s Jan. 1. 1954-34 101V* 101% 4%s July 1. 1954-34 101V* 101% 5s May 1, 1941-31 101% 102 5s Nov. 1. 1941-31 101% 102 —Home Loan—--4s July 1. 1951 101.10 101.14 —Federal Farm Mortgage Corporation—--3%s March 15 1964-44 102.00 102.04 The latter two auotations are in thirtyseconds.

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

Westinghouse Airbrake Company declares a quarterly dividend of 12% cents a share on the common stock, payable July 31. of record June 30. The company previously paid 25 cents a share Quarterly. Reading Railroad Company in four months ended April 30 had a net income of $2,848,987 after charges, equivalent to $1.37 a share against $368,441, or 65 cents a share on the 4 per cent first preferred stock in the corresponding 1933 period. Magma Copper Company declares a dividend of 50 cents a common share, the same as made three months ago. London Packing Corporation for the fiscal year ended April 30 had a net income of $245,170 after charges, equivalent to $2.72 a share on 90.000 shares of capital stock outstanding against $80,557 or 89 cents a share in the preceding fiscal year. CRUSHED BY TOMBSTONE Chicago Boy, 3, Killed While Parents Decorate Grave. By United Press CHICAGO, June 18.—Jimmy McKeown, 3, played in the shadow of a tombstone while his parents decorated the grave of a relative. Not until they were ready to depart did the adults learn that the boy had been crushed upon another grave by the silent fall of a 500-pound monument. Tin Plate Prices Unchanged By Times Special NEW YORK, June 18.—Third quarter prices for tin plate will remain unchanged at $5.25 a base box, according to reports filed with the American Iron and Steel Institute. Increases in wages and price of raw products caused talk of a price rise recently. Firestone Has Large Profit By Times Special CHICAGO, June 18.—Net profit of $1,521,745 after all charges as compared with a net loss of $1,575,917 a year previous is reported by the Firestone Tire and Rubber Company and subsidiaries for the six months ended April 30,

PORKER PRICES CLIMB 10 TO 25 CENTSAT PENS Steers Steady to Lower at $8 Down; Veals Unchanged. Porker prices continued sharply higher in early trading at the Union stockyards today following the strong upturn of the previous week. The initial increase ranged from 10 to 25 cents higher than Saturday’s average on practically all classes. Demand showed improvement, while receipts estimated at 8,000, remained around normal for a regular Monday session. The bulk of 160 to 350 pounds, was selling at $4.9C to $5.05. Early top on better grades held at $5.10. Beef Cows Steady Lightweights, scaling 130 to 16C pounds, sold at $4 to $4.50, while small slaughter kinds, weighing 100 to 130 pounds, were salable at $3.25 to $3.75. Packing sows brought $3.50 to $4. Holdovers, 218. Sales on steers in the cattle market were mostly steady to slightly lower as compared with the previous close. Best grades held around SB. Heifers were strong, selling ..mostly at $7 down. Beef cows continued unchanged, with few classes showing a weak undertone. Bulk ranged from $2.75 to $4. .Receipts numbered 800. Vealers held stationary at $7 down. Receipts were 700. Lamb Values Strong With only little action evident in the lamb market, practically all grades held steady to strong in a narrow range. Bulk of springers sold from $8.50 to $9, while throwouts brought $6 to $6.50. Fat ewes held at $2.50 down. Receipts were 400. Asking on hogs at Chicago moved sharply 15 to 25 cents higher than Friday’s average. Early top held at $5. Receipts were estimated at 20,000, including 9,000 directs; holdovers, 1,000. Cattle receipts were 17,000; calves, 2,00; market steady. Sheep receipts were 5,000; market unchanged. $5 Mark Reached By United Press CHICAGO, June 18.—Choice hogs brought $5 a hundredweight today at the Chicago stock yards for the first time since Nov. 16. There was a limited supply and buyers bid the market up in a mad scramble for desirable weights. Receipts during the past week were the lightest of the year, supplies of dry weather animals having been exhausted. June ? ulk - Top. Receipts. 12. $3.85(9; 4.00 $4.15 7,000 13. 4.25® 4.35 4.50 5,500 14. 4.80@ +9O 5.00 4,000 15. 4.90*1 4,95 5.05 6,500 16. 4.85*1 4.95 5.05 2,500 18. 4.90® 5.05 5.10 8,000 Market, Lower (140-160) Good and choice $ 4.25® 4.50 —Light Weights—-(l6o-180) Good and choice ... 5.00 (180-200) Good and choice ... 5.00 —Medium Weights—-(2oo-220) Good and choice.... 5.05 (220-250) Good and choice 5.05@ 5.10 „ —Heavy Weights—-(2so-290) Good and choice 5.05® 5.10 (290-350) Good and choice 4.90® 5.05 —Packing Sows—(2so down) Good 3.85® 4.15 (250 lbs.) Good 3.60*1 4.00 (All weights) Medium 3.25® 3.85 —Slaughter Pigs—-(loo-130) Good and choice.... 3.25@ 3.75 $ CATTLE Receipts, 800; Market, Steady Good and choice $ 6.50® 9.00 Common and medium 4.00® 6.75 (1,100-1,500) Good and choice 7.25® 9.25 Common and Medium 5.50® 7.50 (675-750) Good and choice 5.50® 7.00 Common and medium 3.25® 5.75 (750-900) Good and choice 5.25® 7.00 Common and medium 3.50® 5.25 —Cows— Good 3.50® 4.25 Common and medium 2.50® 3.50 Low cutter and medium 1.50® 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 arid choice $ 5.00® 6.00 Medium 4.00® 5.00 Cull and common 3.00® 4.00 —Calves— Good and choice 4.50® 6.00 Common and medium 2.50® 4.50 —Feeder and Stocker Cattle— Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 (800-1,500) Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 400; Market, Steady (Shorn Basis) Spring lambs, good and choice $ B.oo® 9.00 (500-lbs. down) Com. & 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 18. —Hogs, receipts. 20.000 including 9.000 directs; market, active, mostly 25 cents higher than Friday; weights above 210 lbs., $4.9005; top. $5, highest since last October; 170-200 lbs., $4.5004.90; light lights. [email protected]: pigs, $3.75 down; packing sows. $3.70®4.15; light lights. 140-160 lbs., good and choice. 54®4.65: lightweights. 160-200 lbs., good and choice. [email protected]; medium weignts, 200-250 lbs., good and choice. $4.75® 5: heavyweights. 250-300 lbs., good and choice, $480(85; packing sows. 275(9 550 lbs., medium and choice, $3.50®4.25; slaughter pigs, 100-130 lbs., good and choice, $2.50®4. Cattle, receipts 17,000; calves 2.000; strictly good and choice fed steers and long yearlings strong to 25c higher; supply such kinds relatively small; medium to good grade killing steers steady to strong: receipts included 150 loads drought cattle purchased on government accounts; other killers uneven; fat cows and heifers ruling steady: cutters 15 to 25c lower: bulls fully steady; vealers. 25 to 50c lower. Top fed steers. $10.25; slaughter cattle and vealers. seers 550-900 lbs., good and choice. $5.75®8.75; 900-1,-100 lbs., good and choice. $6.50(89.75: 1,-100-1.300 lbs., good and choice. s7® 10.25; 1,300-1,500 lbs., good and choice. sß® 10.25; 500-1.300 lbs., common and medium, $3.50®8: heifers. 550-750 lbs., good and choice. $5.25*47; common and medium. $3 @5.50; cows, stood. $4(85; common and medium. $2.75@4; low cutter and cutter, $1,600 2.75; bulls, vearlings excluded, good. beef. $3(83.75: cutters, common and medium, $2.25*9 3.60; vealers. good and choice, $4.75/’6.25; medium. s4® 4.75; cull and common. $304; Stocker and feeder cattle, steers. 550-1.050 lbs., good and choice, [email protected]; comffion and medium. S3O 4.25. Sheep, receipts, 5,000; market, active; spring lambs strong to 25c higher; yearlings and aged sheep, steady; native springers upward to $9 freely; scattered best lots, $9.15(99.25; bulk vearlings, $7; aged ewes, $1®2.25; slaughter sheep and lambs; spring lambs, good and choice. $8.35*/ 9.25; medium, $7 0 8.50; ewes, 90150 lbs., good and choice, $1.5002.26; all weights, common and medium. $.75® 1.75. LAFAYETTE, June 18.—Hogs—Market. 10@15c higher; 200-300 lbs., $4.90; 160-200 lbs:. $4.75*14.80; 140-160 lbs., [email protected]; 120140 lbs., 53.5003.75; 100-120 lbs., [email protected]; roughs, $4 down; calves, $5; lambs, $7.50 @B. FT. WAYNE, June 18.—Hogs—10@40c higher; 250-300 lbs., $5; 200-250 lbs., $4.90; 180-200 lbs., $4,80; 160-180 lbs., $4.70; 300350 lbs., $4.75; 150-160 lbs., $4; 140-150 lbs., $3.75; 130-140 lbs., $3.50; 120-130 lbs., $3.75; 100-120 lbs., $3: roughs, $3.50; stags, $2. Calves—s 6; lambs, $9. (By Times Special) LOUISVILLE, June 18.—Cattle—Receipts, 550; supply light; quality slightly improved; market moderately active, fully steady to strong; spots slightly higher on slaughter classes; hulk common to medium steers and heifers. s4@s; load 1.056lb. steers, $5.65; one lot 780-lb. mixed offerings, $6; bulk beef cows. $2.50(5,3.25; good kinds to $3.75 and above for heifer types; low cutters and cutters, [email protected]: sausage bulls, mostly $2.50(83.25; odd head slightly higher; Stockers and feeders practically absent. Calves—Receipts, 650; vealers barely steady to weak; better grades, $4.50@5; only strictly choice handyweights at latter price: medium and lower grades, $4 down. Hogs—Receipts, 1,700; market, 25c higher than Saturday or 10c higher than Friday; 185-275 lbs., $5; highest since March 9; 275 ibs. up. $430; 160-185 lbs.. $410; 145-160 lbs., $375; 120145 lbs., $2.35. Sheep—Receipts, 2.500, including 197 stock ewes: market undeveloped on lambs; sellers resisting 25®50c lower bids and asking steady or $8.50 for bulk better trucked in ewes and wethers; fat ewes mostl* sl@2; choice lightweights, higher stock eves generally ss®7 a head.

U. S. to Withhold Large Sinking Fund Purchases

Treasury Required to Meet Certain Portion of Its Debt Annually. BY RICHARD L. GRIDLEY United Press Financial Correspondent (Copyright, 1934, by United Press) , WASHINGTON, June 18.—Government security prices have risen so high that the treasury department has decided to withhold sinking fund purchases of nearly SBO,000,000 unexpended for the fiscal year which ends June 30, it was learned late last week. Under the law the treasury is required to set aside a certain sum annually to retire a portion of its debt. The size of the sinking fund is determined by a complicated system of figuring based on the rate of government borrowings, the size of the war debts and other factors. United States Bonds Above Par For the current fiscal year which ends June 30, treasury officials estimated sinking fund requirements amount to $438,000,01)0. Next year they may rise to around $500,000,000 because of increase in the public debt. For the first 11% months of the current fiscal year, sinking fund purchases of government securities amounted to $359,439,700, leaving $78,520,300 to be spent before June 30 to use the entire sinking fund appropriation of $438,000,000. As United States government bonds and notes are now all selling above par and generally around the highest levels in history the treasury has decided not to spend the $78,000,000 in open market purchase of government bonds or notes as it would be done at a loss. Securities Are Retired Instead, the $78,000,000 in sinking fund money is to be allowed to carry over into the the new fiscal year which begins July 1 and used along with sinking fund appropriations for that year. Treasury officials pointed to this procedure as evidence that the government was not “rigging” its security market by large repurchases of its own securities. Since the sinking fund was inaugurated in the fiscal year beginning July 1, 1920, the government up to the end of the 1932 fiscal year retired $4,417,343,350 in its securities at a cost of $4,409,964,440. In the 1933 fiscal year $4,325,660,300 in securities were retired. Produce Markets Delivered in Indianapolis prices: Heavy hens. 9c; Leghorn hens, 8c; 1934 broilers 1% ibs. 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%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@26c. Butterfat, 21c; Quoted by Wadley Company. (By United Press) CHICAGO. June 18.—Eggs—Market, steady; receipts, 15,433; extra firsts. 15%c; fresh graded firsts. 15%c; current receipts. 12%(913%c; dirties. No. 1. 12c; No. 2. 11c: checks. No. 1, ll%c: No. 2, lie. Butter— Market, flrmerU receipts, 12.182: extra firsts (90-91% score*, 23%@24c: firsts (8889% score). 22%c; seconds (86-87% score). 21@21%c; extras (92 score), 24%c: specials. 25%@25%c; standards. 24%c: centralized (89 score*. 23%c; centralized 1(88 score), 22 %c. Poultry—Market, steady; receipts, 20 trucks. 1 car due; leghorns, 9%c: broilers, leghorn, 15@18c; old roosters, B%®; fryers. Plymouth rocks, 25c; springers. 26c; spring geese. 13c; turkeys. 14c; ducks, *ieavy spring. 14c. Cheese Twins. 13%(8'13%c; longhorns. 13%@ 14c; daisies. 13%®14c. Potatoes —Old stock; supply moderate: demand and trading dull; market slow; Wisconsin round whites. $101.25. New stock; supply liberal: demand and trading good: market, about steady; Alabama triumphs. $1.40® 1.50:' Louisiana triumphs. $1.40 01.45; showing decay. $1.15© 1.35; Arkansas triumphs. $1.45%11.50; showing decay. $1.30® 1.35; Oklahoma triumphs, $1.40(9 1.50: slightly decayed. [email protected]: Misissippi triumphs. $1.40; slightlv decayed. $1.25; North Carolina cobblers. $1.4001.50. Arrivals 232: on track, 407: shipments Saturday. 965: Sunday. 19. NEW YORK. June 18.—Potatoes, easier: southern. $1.7502.75 barrel; Maine. $1.02® 2.40. Sw'eet potatoes, quiet: Jersey basket. $.500 2.25; southern basket. $1.50. Flour, steady; springs, patents. $7.250 7.50 barrel. Pork, steady; mess. $20.25 barrel. Lard, easy; middle west spot, $4.2504.35 per 100 lbs. Dressed poultry, auiet: turkevs. 13® 17c: chickens, 80 30c; broilers. 23® 30c: capons. 25®35c: fowls. 11® 17c: ducks, 13®14c; Long Island ducks. 14%®15c. Live poultry, steady, geese. 6®7c: turkeys. 11 (ft 19c; roosers. 9c; ducks, B@l2c; fowls. 13016 c; capons, 22; broilers. 14®27c. Cheese, auiet; state whole milk fancy to specials, 18019 c. Butter—Receipts. 7.179 packages; market, firmer; creamery, higher than extras, 25 3 4 ®26%c: extra (92 score). 25%c; first 90-91 score*. 24%®25c; first (88-89 score), 23%®24%c: seconds. 23®23%c; centralized (90 score). 24'2c; centralired (88189 score). 23%@24%c: centralized (84-87 score). 23*/23%c. Eggs— Receipts. 16,930 cases: market, steady; special packs, including unusual hennery selections, 18%021%c; standards. 17%0 18c: firsts. 16c: seconds. 15@15%c: mediums. 14@14%c; dirties. 14%®)4%c; ,checks. 13%c; storage packs, 16%@16%c. On Commission Row —June 18— —Fruits— Apples—Fancy Winesaps, $2.25. Cherries—Home grown, 24-qt. crates, $2 @2.50. Oranges—California, Sunkist, $5.25@6; Valentias, $4.75®6. Lemons—Sunkist, $7. Grapefruit—Florida seedless, [email protected]. Strawberries—Home grown 24-qt. crate, $3.50 0 4. Raspberries—Southern Indiana black, 24pt. crate, $2.25. Cantaloupes—California jumbos, 455, $4.25; standards. $3.75; Honeydews, $2.75. Pears—Calavos. $3.50 per box. Pineapples—Cuba, [email protected]. Bananas—Per pound, sc. —Vegetables— Sweet Corn—Alabama, 5-do:en crate, $1.75. Cabbage—Tennessee, pony crate. $1.25. Celery—Florida, $5.50 a crate; jumbo bunch. 90c: medium bunch, 75c. Onions —Texas yellow, 50-lb. bag, $1.90 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, $1.85. Sweet Potatoes—Tennessee Nancy Hanks, hamper, $2.40. Asparagus—Home grown, dozen, 65c@ $1.25. Beans—Round, stringless, $1.60: Kentucky Wonders. $1.75. Beeta—New, 45c a dozen. Carrots—California, 6-dozen crate, $3.25; bulk, new. $1.60. Cauliflower—California, $2.75. Lettuce—Outdoor, 15-lb. basket, 85c; iceberg best, $4.50 a crate. Peas—lndiana, $2.50. Radishes—Home grown buttons, 'arge bunch, 50c. Rhubarb—Home grown, dozen, 30c. Spinach—Home grown, bushel, 85c. Tomatoes Hothouse. 10-lb. basket, $1.10; original Texas, 30-lb. lug, $1.50. CHICAGO FRUIT MARKET (By United Press) • CHICAGO, June 18.—Apples—Michigan Spies, [email protected] bushel; Illinois transparents, $102.50 bushel. Carrots—California. [email protected] crate. Spinach—lllinois, 50c bushel. Cucumbers—Central western hothouse, $101.75 (2 dozen to bN:). Tomatoes—Texas, $10,1.25 lug boxes. Sweet Potatoes—Tennessee, $1.90 bushel hampers. Mushroons—lllinois, 15®35c (lb. csfrtonsl. Asparagus—lllinois, 75®;90c crate. Straw')berries—Michigan. $1.250 2.60 (16 quarts); Wisconsin, $3 03.25 (24 quarts). Onion market: (50-lb. sacks): Texas—Yellows, $1.75® 1.85; Texas—Whites, $1.5001.75. 2 DIVIDENDS DECLARED Payments by Portland Cement Cuts Accumulations to $1.92. By Times Special CHICAGO, June 18.—Unpaid accumulations on the class “A” stock of the Portland Cement Company were brought down to $1.92% a share late last week with the declaration of two monthly dividends of 27 cents each a share. Rand Mines declared an interim distribution of three shillings and six pence, less tax, the same payment as made last year. Finance of America postponed dividend action until after July 1.

OFFICE EQUIPMENT FIRM ANNOUNCES SALES GAIN Addressograph - Multigraph May Billings Up 58 Per Cent. By United Press NEW YORK, June 18.—Business of Addressograph-Multigraph Corporation, manufacturers of business machines and office equipment, again established anew post-de-pression peak when in May combined domestic and foreign billings exceeded those in April by 9.8 per cent and those in May, 1933, by 58.5 per cent, Joseph E. Rogers, president, announced today. For the first five months of 1934, billings were 48 per cent above those of the same period of 1933. Domestic business showed up best both in May and in the five months, but foreign business continues to run well ahead of last year with May billings passing April.

RAILROAD EQUIPMENT PURCHASES ADVANCE Total in First Five Months Rises 137 Per Cent. By Times Special CHICAGO, June 18.—Railroad equipment and supplies purchased in the first five months this year amounted to $225,000,000, an increase of 137 per cent over the same period last year when the total was $95,000,000. Average number of employes of railroads during the period also showed an increase totaling 996.482 as compared with 934,264. The May total of employes was 1,043,064 against 938,406 in May, 1933. Expenditures in the period this year approximated $70,000,000 for equipment and $26,000,000 for rails as compared with $3,500,000 and $3,600,000, respectively, in the same period last 3 ear. Orders this year called for seventyfour locomotives, 21,397 freight cars, 306 passenger cars and 705,479 tons of rail while orders last year called for three locomotives, 530 freight cars, six passenger cars and 90,000 tons of rail. STATE FARM BUREAU LEASES NEW UFFICE Entire Floor in Lemcke Building Taken. The Indiana Farm Bureau, Inc., has leased the entire ninth floor of the Lemcke building, Pennsylvania and Markets streets, for business offices. For the last two years the farm organization has occupied quarters in the Old Trails buildings, Washington street and Senate avenue. General offices of the Indiana Farm Bureau, Inc., the Central States Grain Association, Fr "mers’ National Grain Corporation ndianapolis Dairymen’s Cou’ oil, the Hoosier Farmer, Mid-West Producers’ Creameries, Inc., Wool Growers’ Association and the departments of insurance, tax and legislation, will occupy the newly acquired space in the Lemcke building. The move to the new quarters will be made about June 25. HAL SKELLY FUNERAL SET FOR TOMORROW Actor and Producer Will Be Buried in lowa. By United Press NEW YORK, June 18.—Funeral services will be held here tomorrow for Hal Skelly, Broadway actor and producer who was killed in a crossing crash at West Cornwall, Conn., Saturday. The body will be sent to Davenport, la., his former home, for burial. Miss Helen Bell, housekeeper at the estate of Major M. K. Lee, where Mr. Skelly w’as spending the week-end, was in critical condition. She was riding with Mr. Skelly in a light truck which was struck by a passenger train. Births Walter and Coful Davis, 2307 Reformers. William and Goldie Geter, 2736 Boulevard Place. Roy and Nettie Bowles. 939 South Senate. Giloert and Jane Maddux, city hospital. Theodore and Ruth Walker, city hospital. Bryan and Elizabeth Selzer, city hospital. George and Jessie Tuttle, city hospital. Boys Carl and Lois Wesling, city hospital. Paul an Wanda Maple, city hospital. James and Ruby Woodruff, city hospital. Howell and Wiila Holt, city hospital. Russell and Leota Riley, city hospital. Deaths Milton Herman Lentz, 66. of 2110 Carroll ton. cerebral hemorrhage. Carra Milburn, 60, of 527 Wesi Abbott. carcinoma. Margaret E. Armentrout, 82. of 813% East Sixty-third, strangulater ernia. Laura E. Finger. 86. of 5361 Washington boulevard, cerebral hemorrhage. John F. Rosenfield, 78, of 1925 Lafayette road, carcinoma. Minnie E. Gausepohl, 63, of 2363 Broadway, acute myocarditis. Olga Augusta Hoffman, 33, Methodist hospital, acute mastoiditis. Hilda Woods, 10, White river, drowning. Rex Adams. 23, St. Vincent’s hospital, acute nephritis. Anna L. Schrader, 72, of 1440 Woodlawn, arteriosclerosis. Catherine Cooper, 56, of 626 West Tenth, mitral insufficiency. Emeline Ferguson, 66, of 419 West St. Clair, carcinoma. Joseph J. Von Burg. 70, of 815 North East, acute myocarditis. Myra Buckner. 11 months, city hospital broncho pneumonia. Raymond M. Kelly, 35, White river, drowning. William H. Hull, 89. of 306 North Mount, arteriosclerosis. Anna Wiley King, 51, Methodist hospital, hypernephroma. Stella Avery Curtis, 47, of 5470 Guilford, carcinoma. Jacob Henry Snow, 74, of 982 East drive. Woodruff Place, coronary thrombosis. Anna Barskin. 65. Methodist hospital, cerebral hemorrhage. William C. Tuttle. 62, city hospital, carcinoma. Jeanette Maze, 25, St. Vincent’s hospital, diabetes. Gertrude Day, 26, city hospital, obstructive jaundice.

Abbott, Hoppin & Company 203 Continental Bank Bldg. Riley 5491 w , Yor * t Indianapolis n chi “S Montreal Pittsburgh MEMBERS New York Stock Exchange Chicago Board of Trade New York Curb Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Curb Exchange New York Produce Exchange Commodity Exchange, Inc. New York Coffee and Sugar Exchange, Inc. Chicago Mercantile Exchange Co-Managers James T. Hamill Kenneth K. Woolling

JUNE 18, 1934

GRAIN MARKET MOVES DOWN IN NARROWRAN6E Reports of Rain Over Belt Depressing Factor in Initial Trading. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO. June 18.—Dry weather conditions were greatly relieved over much of the grain belt and as a result grain prites were lower today at the opening of the Board of Trade. Wheat started % to % cents lower, corn was % to % cent off, and rye was off V B to % cent. The trade was concerned with three factors: rain over much of the belt movement of new wheat in the southwest, and drought in the European grain area. Liverpool opened a full point higher. Chicago Futures Range —June 18— „ Prev. Wheat— Hieh ‘ L ° W ’ 10:00 Close * JulV 94% 93% 93% 94 Sept 94% 93% 94 >1 94% Dec Corn— July 57% 57 57% 57% Sept 58% 58% 58 % 58*2 Dec 58% 58% 58% 59 Oats— July 43% 43 V* 43% 43% Sept 43 42% 42% 43% Dec 44% 44 44 44 3 2 Rye— July 65% 64% 65V* 65 Sept 66% 66% 66% 66% Dec 68% 68% 68% 68% Barley— Ju'y 56% Sept .... 54 541^ CHICAGO PRIMARY RECEIPTS —June 16— —Bushels— Today. Last week. Wheat 554,000 434.000 Corn 446.000 344,000 Oats 123,000 1 04,000

Cash Grain

—June 16— 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. 87! 2 <&88V2C: No. 2. red. se'zfa 87V,c; No. 2. hard. 86 , i'§'87 1 ,2 C. Corn, steady: No. 2. white. 57©58c; No. 3. white. 56(5) 57c: No. 2. yellow, 53@54c; No. 3. yellow. 52<353c; No. 2. mixed. 52'5.53c: No. 3. mixed. 51iff52c. Oats, weak; No. 2. white. 39%#40*/2c: No. 3. white. 38%(ai 39%c. Bocal Wagon Wheat City grain elevators are paying 84 cents for No. 2 soft red wheat. Otnsr grades on their merits. (By United Press) CHICAGO, June 16.—Cash grain—Wheat. No. 2, yellow, hard. 96’jc; corn. No. 2. yellow. 60?2'561c: No. 3. yellow. 60'S 60%. Oats. No. 2, white, heavy. 43c: No. 3. white. 43% iff 44 c; sample, 40c. Barley. 90fff.96c: quotable. Ss6iffl: timothy. 58.50 iff 9: clover seed. SHJiff 13.75: cash provisions—Lard. $6.55: loose. $6.25; leaf. $6.25; bellies. $9.50. TOLEDO. June 16.—Grain close: (Grain in elevators, transit billing). Wheat. No, 2, red. 97@98c; corn. No. 2. vellow. 62® 63c; oats. No. 2. white. 48 iff 49c: rye. No. 2. 69‘/2@70 l /2. (Track prices 28%c rate). Wheat. No. 1. red 93 I ,2<ff94c: No. 2. red, 92',2#93c; corn. No. 2. vellow. 57‘2(ff58 1 2 c: No. 4. yellow. sbV2<aW 2 -, oats. No. 2. white. 45@46c: No. 3. white. 44%® 45%c. Seed close —Clover, cash. $8.25: alsike. cash. $8.50. HUDSON PRODUCTION IN MAY HIGHEST SINCE’3O Increase of 101.5 Per Cent Reported Over Previous Year. By Times Special CHICAGO. June 18.—Hudson Motor Car Company for May and for the first five months of the current year registered a sharp gain in production as compared with the corresponding period last year, according to figures made public today by Roy D. Chapin, president of the company. May production aggregated 11,782 cars, an increase of 5,936 cars, or 101.5 per cent compared with the total of 5,846 cars reported for May last year. The output was also the largest reported for any corresponding month since 1930. For the five months ended May 31, 1934, the company produced 60, 745 cars, an increase of 267 per cent compared with output of 16,557 cars in the corresponding period last year. In addition to being the largest output reported for any similar period since 1930, the five months production this year exceeded the total production for each of the years 1933, 1932 and 1931. BROWN HARRIMAN OPEN I OFFICES IN 21 CITIES' George W. Kadell Named Head of Indianapolis Branch. By Times Special NEW YORK, June 18.—Brown Harriman & Cos., Inc., whose executive personnel consists of former partners of Brown Brothers, Harriman & Cos., opens business today ir*. New York and twenty other cities. The company will engage in general investment business as underwriters of capital issues and as dealers in federal government, state, county and municipal bonds, and in railroad, public utility, industrial and other investment securities. An Indianapolis office under the management of George W. Kadell, who recently had charge of the local investment business for the Brown Brothers, Harriman & Cos., will open today under the name of Brown Harriman & Cos., Inc., it wa3 reported.

Safe Water ' delivered day and night costs less than anything else you buy Indianapolis Water Cos.