Indianapolis Times, Volume 46, Number 35, Indianapolis, Marion County, 21 June 1934 — Page 22

PAGE 22

Wall Street History to Solve Effect of Suspension of Debt Service on Trade.

—— BY RALPH HENDEUSHOT Times Special Financial Writer SERVICE on international debts has been suspended right and left within recent months, and one wonders what effect, if any, it will have on business practices in the future. It is an obvious truth that credit has become necessary in the satisfactory conduct of business, whether it be between individuals or

nations, and when credit relations have been t h r e a tened through failure to live up to agreements it is reasonable to suppose that it should make a difference. In v e stors appear to have become strangely uninterested, however, in many of the

Hendershot

defaults which have taken place. When England, for instance, failed to make its debt payments as usual no one, apparently, thought of disposing of the bonds of that country. No one was sufficiently disturbed to sell sterling. As an editorial writer on one of the London newspapers said, “British credit stands unassailed.” A few years ago, when American bankers were offering foreign bonds for sale in this country, they went to great length to point out that this or that country had never defauled on its obligations. Is it possible that a nation's credit rating will mean nothing in the future, or are we merely punch drunk as a result of passing through such troublesome times? The guess of one person probably is as good as that of another. tt o tt STANDARD facts and forecasts has gone back to the records to determine just what effect the adjournment of congress has on the stock market. It finds that it is about a 3 to 1 bet that prices will rule higher in the first ten days after adjournment than they were in the ten days immediately preceding that event. At any rate, in fifteen out of the last twenty cases prices have shown advancing tendencies after congressional parties broke up. tt tt tt LEONARD P. AYRES, vice-presi-dent of the Cleveland Trust Company, is not as discouraged as most economists over the problem of overproduction, in fact, he thinks our producing facilities are inadequate. In the current issue of the bank's magazine he is on record as saying that the heavy industries would have to work 25 per cent above normal rates for a period of ten years in order to make up the deficiency. This is indeed cheering. Many people undoubtedly will wish they could take him seriously. Wall Street went in pretty deep on Commissioner Brown’s views of a prizefighter, but when it comes to accepting the opinions of one of its own members these days, even though he is an out-of-towner, its Scotch traits become immediately apparent. But whether the Street strings along with him or not shouldn t make a great deal of difference. It has been wrong before. N. Y. Coffee, Sugar Markets • —June 20COFFEE Santos . High. Low. Clos.e March n.15 li.io 11.15 May 11.24 11.16 11.20 July 10.50 10.20 10.48 September 10.92 10.85 10.89 December 11.06 11.03 11.06 Rio January . . 8 47 March 8.55 8.55 8.52 May 8 60 8.54 8.60 July 8.60 8.54 8.60 July 8.34 8.31 8.34 Sejtember 8.34 8.31 8.34 September 8.37 8.33 8.34 December 8.46 8.38 8.41 SUGAR January 1.82 ~ 1.79 1 82 March 1.87 1,86 1.87 May 1.93 1.89 1.93 July *1.64 1.60 1.63 September 1.71 1.68 1.71 December 1.81 1.78 1.81

In the Cotton Markets —June 20— CHICAGO _ High. Low. Close. January 12 65 12.58 12.53 March 12.75 12 64 12.64 July 12.1* 12.19 12.10 October 12.48 12.34 12.34 December 12.60 12.47 12.47 NEW YORK January 12.55 12.42 12.42 March 12.65 12.52 12.52 May 12.75 12.62 12.62 July 12.13 11.97 11.97 October 12.37 12.24 12.24 December 12.50 12.36 12.36 NEW ORLEANS January 12.41 March 12.58 12.55 12.55 May 12.69 12.66 12.66 July 12.62 12.00 12.00 October J 2.35 12.22 12.23 December 12 46 12.34 12.35 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A cash discount of 25 cents her ton is allowed. Domestic Retail Prices Anthracite $14.25 Brazil lump 5.75 Brazil egg 6.25 Brazil mine run 5.00 Coke, nut size 8.75 Coke, egg size 8.75 Indiana forked lump [email protected] Indiana egg 5.25®5.50 Indiana mine run 5.00®5.25 Kentucky lump 7.00 Pocahontas lump 8.25 Pocahontas egg 8.25 Pocahontas forked lump 9.25 Pocahontas mine run 7.25 New River smokeless 8.25 West Virginia lump 6.75 West Virginia egg 6.50 Island Creek 7.00 Extra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin DECLARES 2 DIVIDENDS Mosser Pays 50 Cents; Insurance Firm Makes $4 Disbursement. By Times Special CHICAGO, June 21—A dividend of 50 cents a share on the common stock was declared this week by directors of the J. K. Mosser Leather Company, subsidiary of Armour & Cos. Initial payment on the stock was made Jan. 2, this year. Travelers’ Insurance Company directors declare the regular quarterly dividend of $4 a share on the company’s common stock. Dividend Amounts Rise By Times Special CHICAGO, June 21.—Rises in dividend payments were voted this week by directors of Amoskeag Company and the Hartford Gas Company. The former firm declared a semiannual payment of 75 cents, against 50 cents previously, and the latter declared a similiar amount with the same rise, as a quarterly disbursement.

STOCKS HIGHER ON STRENGTH IN SILVERWARES Indications of Government Buying in Metal List Strong Factor. BY ELMER C. WALZER United Press Financial Editor NEW YORK, June 21.—Strength in some silver issues, on indications of government buying of silver, brought an irregularly higher tone into the stock market today. Wall Street reports that the administration will make a definite test of the silver purchasing plan immediately, brought a little inflationary feeling. United States Smelting held at 129 Vi, up lVs. American Smelting advanced % to 41 %, up %, and Cerro De Pasco at 40 7 i was up %. Other mining shares, including the gold and copper issues, firmed fractionally on initial transactions. The general list remained steady. United States Steel advanced % to 40%. New York Central showed the same gain at 30%. General Motors and Chrysler were unchanged. Du Pont gained Vi to 9i, Public Service advanced % to 38VsAlcohol shares, which started weakening after announcement of National Distillers new stock offering yesterday, continued under slight pressure today. National Distillers was off % at 23 "s on 1,000 shares, United States Industrial Alcohol lost a half point to 41 Vi, while Americah Commercial Alcohol was unchanged at 35%. American Telephone declined % to 115 Vi. Money and Exchange INDIANAPOLIS BANK CLEARINGS —June 21— Clearings $1,727,000.00 Debits 4.856,000.00 FOREIGN EXCHANGE Bv James T. Hamill ft Cos. —June 20— Close. Sterling. England .$5.03% Franc. France 0660 Lira. Italy 0861 Belgias. Belgium ' 2336 Mark. Germany 3811 Guilder, Holland 6782 Peseta, Spain 1368 Krona. Norway 2534 Krone. Denmark 225 k Treasury Statements (By United Pressl WASHINGTON, June 21.—Government expenses and receipts for the current fiscal year to June 19. compared with the corresponding period of the previous fiscal year: This year. Last year. Expenses $6,825,732,385.56 $4,955,939,056.57 Receipts. $3,027,915,796.09 $2,014,288,215.95 Deficit... $3,797,816,809.47 $2,941,650,840.62 Cash balance $2,722,602,164.37 Investment Trust Shares (By Abbott, Hoppin & Cos.) —June 20— Bid. Ask. American Bank Stocks Corn.. 1.12 1.15 American & General Sec A... 4.50 6.00 American ft Inv Tr sh 1.75 Basic Industrv shares 3.35 3.40 British Tyne Inv Tr sh 44 .50 Collateral Trustee shares A.. 4.60 4.70 Corporate Trust shares loldi . 2.12 2.16 Corporate Trust shares (new) 2.33 2.37 Cumulative Trust shares 4 00 4.10 Diversified Trust shares A 6 25 Diversified Trust shares B ... 7.75 8.00 Diversified Trust shares C.. 3.03 3.07 Diversified Trust shares D... 4.75 5.00 First Insurance Stock Corp... .87 1,00 First Comomn Stock Corn ... .68 .71 Fixed Trust Oil shares A.... 8.37 Fixed Trust Oil shares B 7.50 Incorporators Investments ... 17.75 19.00 Land Bank Bond shares 1.19 1.32 Low Priced Trust shares 6.12 Mass Inv Trust shares 18.62 20.00 Nation Wide Securities 3.35 3.45 North Am Trust shares (531 . 1.90 1.96 North Am Trust shares (55-56) 2.41 North Am Trust shares (58).. 2.34 2.38 Selected American shares 2.61 Selected American shares Inc 1.19 1.28 Selected Cumulative shares ... 6.63 Selected Income shares 3.48 3.87 Std American Trust shares A 2.92 2.96 Trust Shares of America 2 78 2.84 Trustee Std Oil A 5.75 5.85 Trustee Std Oil B 5.20 5.30 U S Electric Lt & Pw A 12.62 13.00 Universal Trust shares 3.05 3.10 New York Bank Stocks (Abbott. Hoppin & Cos.) —June 20— Bid. Ask. Bankers 62Vi 62% Brooklyn Trust 110 114 Central Hanover 127% 128% Chase National 27% 27% Chemical 40% 40% National City 27% 28 Corn Exchange 51% 54% Continual 13% 14% Empire 19% 19% First National 1,700 1.710 Guaranty 366'2 368 Vi Irving 15% 17% Manhatten & Cos 31'2 31% Manufacturers 21% 22 New York Trust 109 110 Public 34 34% Daily Price Index (By United Press) NEW YORK. June 20.—Dun ft Bradstreets daily weighted price index of thirty basic commodities compiled for the United Press (1930-1932 average. 100): Today 113.02 Yesterday 113.68 Week ago 113.00 Month ago 109.61 Year ago (June 21) 93.32 1934 high (June 19) 113.68 1934 low (Jan. 3) 101 05 (Copyright. 1934. Dun & Bradstreet, Inc.)

Bright Spots ■“■’■(Bv Abbott. HoooiD ft Cos.)

National Biscuit Company declares the regular quarterly dividend of 50 cents a share on the common stock, payable Oct. 15. of record Sept. 14. Public Service Corporation May net income totaled $1.901,205. Net income for twelve months ended May 31 was $26,111,901 against $26,768,193 in the previous twelve months. Commonwealth Edison Company declares the usual quarterly dividend of $1 a share on the capital stock, payable August 1. of record July 14. INTEREST POSTPONING AGREEMENT REACHED Western Pacific 5 Per Cent Bond Holders Favor Revised Plan. By Times Special CHICAGO, June 21.—T. M. Schumacher, chairman of the executive committee of the Western Pacific Railroad Company, announced today that holders of slightly more than 70 per cent of the road’s $49,290,100 first mortgage 5 per cent bonds have agreed to the plan as revised on May 29 for the postponement of this year’s interest. It is necessary for the company to obtain the assent of an additional 5 per cent before the plan can be made effective. Since the announcement of the revision, the response of the bondholders has been satisfactory, Mr. Schumacher stated. He urged, however, that remaining bondholders cooperate by depositing their 1934 coupons promptly in order that the plan may become effective at the earliest possible date. Three Firms Resume Payments By 'limes Special CHICAGO, June 21.—Three firms resumed dividend payments this week, American Surety Company declaring a 50 cents payment, the first since September, 1931; Joseph Dixon Crucible Company declaring $1 a share, the first payment since December, 1931, and Wiss Oil Corporation making a disbursement of 10 cents a common share, last payment being in July, 1930.

♦ New York Stocks (Bv Abbott. Hoppin sc Cos.)

AVERAGE STOCK PRICES FOR WEDNESDAY Net High. Low. Close, change. Thirty industrials 99.10 97.94 98.25 —.77 Twenty rails 45.39 45.02 45.17 —.41 Twenty utilities 24.73 24.32 24.40 —.25 Forty bonds .... 95.01 —.16 Ten first rails •••• 101.74 —.13 Ten second rails .... 82.24 —.46 Ten utilities .... 98.66 —.09 Ten industrials .... 97.39 +.03 + Up. -Off.

June 21— Prev. High. Low. 10:30 close. Oils— Amerada 53 Atl Rfg 25% 25% Barnsdall 7% 7% Consol Oil .- 10% Cont of Del 20% 20% 20% 20% Houston (new) ... 3% Mid Cont Pet . ■ 13% Ohio Oil 11% 11% 11% 11% Pet Corp . 11% 11% Phillips Pet 18% 18% 18% 18% Plymouth Oil 12 Pure Oil ... 10% 10% Royal Dutch 35% Sbd Oil 34 Shell Un 8% 8% Soc Vac 18% 16% S O of Cal 35% 35% S O of N J 46% 46% Sun Oil 62 Texas Corp 24 Tidewater Assn 24% Un Oil of Cal 16% 16% Steels— Am Roll Mills 20 20 Beth Steel 34% 34% 34% 34% Bvers AM 23*% Inland Steel 39 Ludlum Steel 14% Natl Steel 42% Otis Steel 4% Reo Iron&Stlpfd .. U S Pipe ft Fdy 25% 25% U S Steel • .. 41% 40% 41% 40% U S Steel pfd 85 Warren Bros 10 9% Youngstn S & T 21% Motors — Auburn . • ■ . • • 26% Chrysler 41% 40% 41% 40% Gen Motors . . 32% 31% 32% 31% Gen Motors pfd 102 102 Graham Mot . •■ 2% 2 % Hudson 11% 11% 11% 11% Hupp ... 3% 3% Mack Truck 27% Nash ••• 16% Packard 4 S% Reo 3% 3% Studebaker ... 4% Motor Access— Bendix 15% Bohn Alum 54 53% Borg Warner 24% 24% Briggs 17% Budd Wheel 3% Eaton Mfg 17% Elec Auto Lite .... ... 22% 22% Houdaille A 4% Murray Body ..... Stew Warner 7% Timken Roll 29% Timken Det Axel 7Vs Mining— Alaska Jun 20% 20 Am Metals ••• ’ 22% 22% Am Smelt 42 41% 42 41% Anaconda 15% 15% 15% 15% Cerro De Pasco.. 41 % 40% 41 39% Dome Mines .... 43% 43% 43% 52% Granby 10% Gt Nor Ore 11% . Howe Sound 55 54% Int Nickel 26 % 26% Int Silver 31 Kenn Cop 22 21% 22 21% Mclntyle Mine .. 48% 48% 48% 47% Noranda Cop ... .. 43% 43% Park Utah .... 4% 4% 4% 4% Phelps Dodge 17V4 17% St Joe Lead • • 20% U S Smelt 130% 129% 130% 128% Vanadium 23 Amusements— Croslev Radio 16 16 Fox Thea 14% 14 14 14% Loews Inc 31% 31% Radio Corp 1% 7% RKO 2% 2 % Warner Bros . 5% Tobaccos— Am Snuff .. ... 58% ... Am Sum Tob 18 Am Tob “A” 72 Am Tob *‘B” 74% Gen Cigars ... 41% 41% Ligg & My "B” 97 Lorillard 18% 18% Reyn Tob “B” 45% Rails— Atchison 59% 59% *59% 59% Atl Cos Lines . 42 B ft O 24% 24% Can Pac 15% 15% Ch ft Ohio 47% 47% C M ft St P 5% 5 C M ft S P pfd 8% Chi N W 9% Chi N W pfd 18 Del Lac ft W 24 Erie 20 Erie pfd . ... 25% Gt Northern pfd 22% 22% 33% 22% 111 Central 26 Lehigh Valley 16% Lou & Nash 53 53 M K ft T 9% Mo Pac pfd . • 6 N Y Cent 30% 30% 30% 30Vi N Y New Haven 15% 16 Norfolk & Wes 181% Nor Pac . 24% Penn R R 31% 31% Sou Pac 24% Sou RR ....... •• ... 26% 26% Union Pac 124% West Maryland 12% Equipments— Allis Chalmers 16 Vs Am Brake Shoe . .. ■ 27 Am Car & Fdy 21% Am Loco 25Vi Am Loco pfd .... ... .. . 56 Vm Steel Fdy 16 17 Bald Loco 11% Bald Loco pfd . 45 Burroughs 14% 14 14% 14% Case J I 53% 43% Cater Tract 27% 27 Vt Deere & Cos Elec Stor Bat 43% Foster Wheeler 16% Gen Am Tnk Cr 39% - 33 Gen Elec . ■ 20% 20% Ingsol Rand ... 63 62% 63 62% Int Bus Mach 142% Int Harvester 32% 33% Natl Cash Reg 17 7 % Pullman Inc 51 Rem Rand ' ... 10 7 /a Und Elliot 48 West Air B 22% 22 Vi Westingh Elec . 37% 36% 37% 37 Worthing Pump 21% Utilities— Am ft For Pwr 8% 8% Am Power & Lit 7% 7% AT&T 115% 115% 115% 115% Am Wat Wks . 20% 20% Col Gas & Elec. 14% 14% 14% 14% Com & Sou . • 2% 2% Consol Gas 35% 35 35 34% Elec Pwr & Lit. 6% 6% 6% 6% Int Hydro Elec. 7% Int TANARUS& T 13% 13% Nat Pwr ft Lit 10% 10% North Amer 18% 18% 18% 18% Pac G ft E 18% Peoples Gas 33% 34% Postal Tel pfd 21 20% Pub Serv N J 38 So Cal Edison 16% 16% Std Gas 11% Std Gas pfd ... .. 12% Stone ft Webster 8% 8% United Corp 5% 5% Un Gas Imp 16% 16% Ut Pwr & Lit A 3% 3% Western Union 46% Rubbers— Firestone 17% Goodrich 14 Vs Goodyear 29 Kelly Spring 2% U S Rubber . . 19% U S Rubber pfd. .. 48% Miscellaneous— Am Bank Note 21% Am Can 97% 98 Anchor Cap 20% 20% Brklyn Man Tr 38 38% Conti Can - 79 Crown Cork 26 Curtis Pub 22% Curtis Pub pfd 80 Eastman Kodak 99% Gillette 10% Glidden 24 24' Owens Bottle 79 Raybestos Mfg 18% Foods— Am Sugar 63% 63 63% 62% Armour A 5% 5% Borden Prod 26% Cal Packing 32% 32'% Can Dry G Ale 21 % 22 Corn Prod 67% 67'% 67'% 68 Crm of Wheat 33% Cuban Am Sugar 7% Gen Foods 32% 32 32% 32 Gold Dust 19% 19% G W Sugar , 32 Hershey 63% Int Salt 31 31% Loose Wiles 40 % Natl Biscuit 36 35% 35% 36 Natl D Prod ... 17% 17% 17% 17% Purity Bak 131, S Porto R Sug 33 % Spencer Kellog 22% Std Brands 20% United Fruit 72% Retail Stores— Ass Dry Goods 12% First Natl Stores 65% Gimbel Bros 3% Hahn Dept Sts 5% Jewel Tea 48'> Kresge S S 18% Kroger Groc 30% Macv R H 42'% 42 Marshall Feilds . .. .. . 15% Mont Ward 28 27'% 28 27% Natl Tea 13 Penny J C 59% Safeway St 50% 50% Sears Roebuck 43 43 Woolworth 51% Aviation— Aviation Corp* 3'% 3% Curtiss Wright “A” 10% Douglas Air 20% 20% Nor Am Av 4% CSpeerv Corp .. . 9% 9 United Aircraft.. 24% .20 20 20 Chemicals— Allied Chem 141% Am Com A1 35% 35% Col Carbon ... 74% 73% Com Solvents .. 23% 23% 23% 23% Dupont 91% 91 91% 90% Freeport Tex 32% 32 Liquid Carb 29% Math Alkali ... .. ... 33% Montos Chem .. 50 49'% 50 40 Natl Dist (new). 24% 23% 24% 24 Schen Dist . . 28% Tex Gulf Sul ..33 7 % 34% 34% 34% Union Carb 43% U S Indu Alco 41% 41% Girg Ch 6% pfd 18' Drugs— Coty Inc 6% Lambert 26% Lehn ft Fink . 20% Un Drug 16 15% 16 15% Zonite Prod ... 6%

THE INDIANAPOLIS TIMES

Financial— Adams Exp 9 Alleg Corp 2% 2% 2% 2% Am Int Corp 8% Chesa Corp 47% Transamerica 6% 6% Tr Conti Corp 4% 4% Building— Am Radiator ... 14% 14% 14% 14% Gen Asphalt 19% Int Cement ... ... 27% John Manv .... 54% 54 54% 53% Libby Ow Gls .. 31% 31% 31% 31% Otis Elev ... 15% 16 Household— Col Pal Peet ... 16% 16% 16% 16% Congoleum 27% Kelvinator 17% 18 Proc & Gam 36 Simmons Bed 16% Textiles— Amer Woolen 11 11% Belding Hem ... . 12% Ceianese Cor .. 26% 26% 26% 26 Collins Aik 16% Gotham Hose B'i Indus Rayon 25% 25% Real Silk 8% New York Curb (Bv Abbott Hoppin & Cos.) —June 20— Close Close Am Cyanide B. 18% Gulf Oil of Pa. 65% Am ft F P W.. 5% Hiram Walker . 37'% Am Gas & El.. 26% Hud Bay Min .. 14% Am Superpwr.. 2% Humble Oil .... 43% Atlas Corp ... 11 Imp Oil Ltd ... 15'% Braz Tr & Lt.. 9Vi Int Petrol 23% Can Marc 2% Lake Sh Min .. 23% Carrier Corp .. 8 Lone Star Gas . 5% Cities Serv 2% Natl Bel Hess .. 3% Comwlth Ed ... 55 Newmont Min . 42'% Con G of Balt. 63 Nia Hud Pwr .. 5% Cord Corp .... 4% Novadel Agen . 20% Creole Petnjl .. 12% Pen Road 2% Deere &Oo ... 21 St Regis pap .. 3% Distill Lim ... 22% Sal Cr Prod ... 6% Distill Corp .. 16% Sherwin Wms .. 67'% Dow Chem ... 94% Std of Ind 27'% El Bond & Sh. 16 Std of Ky 16% Fisk Rub 10% Technicol Ind •. 13 Ford of Can A. 217% Teck Hug Gold. 6% Ford of Eur .. B’% Un Gas 2% Gen Aviat 4% Un Pw ft Lt A. 3% Glen Aid Coal. 16% Wrl Harg Min . 9%

Bond Prices (Bv Fenner ft Beane) ——-

—June 21— Alleg Cor ss. ’SO 38% Am ft For Pwr ss. 2030 53 A T ft T db ss, ’65 109% Atch gen 4s. ’95 103% 103% 103% B ft O cv 4Vis ’6O ... 67'% 67 67 Beth Steel ss, A '36 102% Can Pac 4s .. 82% C & O ss. A ’39 11l 110% 111 CMSP&P adj ss, A 2000 14% 14 14% CMSP&P rs ss. A ’75 .. 43 42% 43 Con Gas N Y 4%5. ’sl 104% Denmark 5%5, ’55 90% Goodyear ss. ’57 100'% 100% 100% Gt Nor 7s, A ’36 94% 94% 94% Inter R T ss. ’66 70% 70', 2 70% Int T ft T db ss. ’55 66% McK ft Rob sVis. ’SO .. .. 83% Nat Dairy db 4Vis, ’48.. 98% 98% 98% N Y Cen 4Vis. O 2013 .. 77% 77 77 Nor Am ss. ’6l 90 Pac G ft Elec ss. A ’42 106% Penn R R 4%5, D ’Bl 98% Poland 7s. 47 110% Shell Un Oi: ss. '47 99 % Sin Cons 6%5. B ’3B 104% Texas Corp ss, ’44 103 Un Pac Ist 4s, ’47 106% U S Rubber ss, A ’47 86% 86 '/ 2 86% Yngstn S & T ss, B ’7O 83% U. S. GOVERNMENT BONDS (By United Press) (Decimals Represent 32nds.i NEW YORK, June 20,—Closing Liberties. Liberty 3%s (32-47) 104.4 First 4%s (32-47) 102.26 Fourth 4Vis (33-38) 103.19 Treasury 4Vis, 3Vis (45) 103.21 4 Vis (47-52) 113.6 3%s (43-47) 104.23 3%s (41-43), March 104.31 3%s (43) 105. 3%S (46-49) 102.11 3s (51-55) 101.7 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —June 20— Bid. Ask. 4s, Nov. 1, 1946-44 101% 102% 4s. May 1, 1958-38 101% 101% 4'is, July 1, 1956-36 101 101% 4ViS, Jan. 1, 1957-37 101% 101% 4Vis, May 1, 1957-37 101 Vs 101% 4%5. Nov. 1, 1958-38 101% 102% 4'is, May 1. 1942-32 101% 102% 4%5, Jan 1, 1943-33 101 100% 4%5, Jan. 1, 1953-33 101 101% 4%5, July 1, 1953-33 101 101 Vi 4%5, Jan. 1, 1955-35 101% 101% 4’is, Jan. 1, 1956-36 101% 102% 4*is. July 1. 1953-33 100% 4%5. Jan. 1, 1954-34 100% 4%5. July 1, 1954-34 100% ss, May 1. 1941-31 101 % 102 ss, Nov. 1, 1941-31 101% 102 —Home Loan—4s, July 1, 1951 101.20 101.28 Federal Farm Mortgage Corporation 3Vis, March 15. 1964-66 101.23 101.29 The latter two quotations are in thirtyseconds. AIR COOLING EQUIPMENT SALES UP 30 PER CENT Heavy Demand from Restaurants Account for Increase. By Times Special NEW YORK, June 21.—Installation of air conditioning equipment in restaurants has resulted in an average of 30 per cent increase in patronage of these establishments during the summer months, according to the results of recent surveys just compiled by the York Ice Machinery Corporation of York, Pa„ pioneer developers and producers of refrigerating and air conditioning equipment, announced today by W. S. Shipley, president of the company. The results are based on the experience of air conditioned restaurants in twenty-nine cities throughout the country. A further fact disclosed by these surveys, Mr. Shipley states, is that customers of these air conditioned restaurants eat more in summer than they did before the installation of air conditioning, the average check being 55 cents as compared with 45 cents before air conditioning, an increase of 22 per cent. ELECTRIC OUTPUT RISES 13 PER CENT IN YEAR May Production Totals 158,851,868 Kilowatt Hours. By Times Special NEW YORK, June 21.—Electric power output of subsidiaries of the American Water Works and Electric Company during May totaled 158,851,868 kilowatt hours, against 140,797,501 kilowatt hours for the same month of 1933, an increase of 13 per cent. For the first five months ended May 31, power output amounted to 758,717,522 kilowatt hours, as against 617,583,163 kilowatt hours for the corresponding period of last year, an increase of 23 per cent. NET INCOME DECLINES Union Pacific Reports Operating Profit of $1,073,311 in May. By Times Special NEW YORK, June 21. —Net operating income of $1,073,311 during May is reported by the Union Pacific Railroad Company. For the same month last year net income was $1,576,584. Gross income for the month was $9,673,357, against $9,087,363 last year. For the first five months this year, net operating income was $3,366,476, and gross income was $45,469,881, as compared with $3,136,548 net and $37,772,659 gross in the .corresponding 1933 period.

HOGS DISPLAY LITTLE CHANGE AT CITYYARDS Prices Steady to Strong; Cattle and Vealers Unchanged. Only slight changes were evident in hog trading at the Union Stockyards this morning. Several porkers remained fully steady with yesterday’s average, while other grades were strong to slightly higher. The bulk, 160 to 350 pounds, was salable at $4.95 to $5.10. Good and choice clases brought $5.15 to $5.20. Slaughter pigs, scaling 130 to 160 pounds, sold at $4 to $4.50. Extremely small kinds, weighing 100 to 130 pounds, were selling from $3.25 to $3.55. Packing sows cashed in at $3.50 to $4. Receipts were estimated a'v 6,500; holdovers, 910. With hardly enough stock on hand to test the market, practically all classes of cattle were mostly steady to weak at the previous close. Few steers sold at $5 to $6.40, while best heifers brought $4 to $6.25. Receipts were 700. Steady trading range was resumed in the veal market, with most grades salable at $4.50 to $5. Initial top held at $5. Receipts numbered 800. Dullness continued to feature the lamb market and the majority of prices were unchanged. Bulk of lambs held at $9, while early top ranged up to $9.25. Throwouts were salable from $6 to $7. Slaughter sheep brought $1.50 to $3. Receipts were 600. Initial asking on hogs at Chicago was strong, with few bids mostly steady to 5 cents lower than yesterday. Rceiepts were estimated at 18.000, including 7,000 directs; holovers, 2,000. Cattle receipts were 8,000; calves, 3,500; market unchanged. Sheep receipts numbered 6,000. market firm. June Bulk. Top. Receipts. 15. $4.90(3! 4.95 $5.05 6.500 16. 4.85® 4.95 a.ua 2,500 18. 4.90® 5.05 5.10 8.000 19. 4.90® 5.05 5.10 9 000 20. 4.95® 5.10 5.10 6.500 21. 4.95® 5.10 5.20 6.500 Market, Steady (140-160) Good and choice....s 4.25® 4.50 —Light Weights—-(l6o-180) Good and choice.... 5,00 (180-200) Good and choice —Medium Weights—-(2oo-220) Good and choice.... 5.10 (220-250) Good and choice ... 5.10@ 5.15 —Heavy Weights—-(2so-290) Good and choice.... 5.10(3 5.20 (290-350) Good and choice.... 4.95@ 5.10 —Packing Sows—(2so down) Good 3.90® 4.25 (250 lbs.) Good 3.65® 4.10 (All weights) Medium 3.50@ 3.90 —Slaughter Pigs—-(loo-130) Good and choice.... 3.25® 3.75 CATTLE Receipts, 700; 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, 800; Market Steady Good and choice $ 4.50® 5.50 Medium 3.00® 4.50 Cull and common 2.00® 3.00 —Calves— Good and choice 4.50® 5.50 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, 600; Market, Steady (Shorn Basis) Spring lambs, good and choice $ 8.50® 9.25 (500-lbs. down) Com. & med.. 6.50® 8.50 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.50 Other Livestock (By United Press CHICAGO. June 21.—Hogs—Receipts, 18,000. including 7.000 directs; slow, mostly steady with yesterday; spots strong to 10c higher; weights above 200 lbs., $5.05® 5.15: top. $5.25 sparingly; 170-210 lbs., $4.50®5.05; light lights, $4®)4.50; nigs, $3.50 down; packing sows, $4.10(34.50; lignt lights, 140-160 lbs., good and choice. s4® 4.60: lightweight, 160-200 lbs., good and choice. $4.40(3 5.10; medium weights. 200250 lbs., good and choice, [email protected]: heavyweights. 250-350 lbs., good and choice. $5<3;5.15; packing sows. 275-550 pounds, medium and choice, [email protected]; slaughter pigs. 100-130 lbs.. good and choice, $2.75®4. Cattle —Receipts. 8.000; calves, 3,500; generally steady trade on steers and yearlings; killing quality plain: some slowness on in-between grade offerings of value to sell at s7®B; early top long yearlings. $9; no strictly choice heavy steers in run; all heifers and good grade fat cows, steady; cutter cows weak: bulls, steady; vealers, steady to strong at $4.50 ®5.50. mostly $4.50(3 5; slaughter cattle and vealers: steers, 550-900 lbs., good and choice, [email protected]; 900-1,100 lbs., good and choice, $6.25(3 9.75:1.100-1,300 lbs., good and choice. s7® 10.35; 1,300-1,500 lbs., good and choice. $8®10.35; 550-1,300 lbs., common and medium. $4(3 8: heifers, 550750 lbs., good and choice. $5.50®7.25; common and medium, $3.2.'i'3 5.50; cows. good. S4®s; common and meaium. $2.50(34: low cutter and cutter. $1.50®2.50: bulls, yearlings excluded, good beef. s3® 3.75; cutters. common and medium, [email protected]; vealers. good and choice, [email protected]; medium, $3.50@4; cull and common, $2.50® 3.50: stocker and feeder cattle: Stockers. 550-1,050 lbs., good and choice. $4.50® 5.50; common and medium. $3.50(3 4.75. Sheep—Receipts. 6,000: generally around steady: slightly sorted native spring lambs. $9 downward: early top, $9.25: merely good yearlings. $6.60: others held well above $7: slaughter ewes, mostly $1(02; lightweights quotable $2.25; slaughter sheep an dlambs: spring lambs, good and choice. $8.35® 9.35: medium, $7(3 8.50; ewes. 90150 lbs., good and choice, $1.50®2.25: all weights, common and medium, [email protected]. FT. WAYNE. June 21.—Hogs steady to 15c higher: 250-300 lbs.. $5.10: 200-250 lbs.. $5; 180-200 lbs.. $4.90; 160-180 ibs., $4.80; 300-350 lbs.. $4.85; 150-160 lbs., $4.25: 140-150 lbs.. $4; 130-140 lbs., $3.75: 120-130 lbs., $3.50; 100-120 Ibs.. $3.25: roughs, $3.50: stags. $2. Calves. $5.50; lambs, $8.50. \ (By Times Special) LOUISVILLE, June 21.—Cattle—Receipts. 275, including 108 direct; market, slow, generally steady; bulk common to medium steers and heifers, s4®s; very little included of value to sell above $5.50; strictly good dryfeds and baby beef type yearlings, quotable around $6.50; bulk beef cows. $2.50® 3.25; practical top, $3.50; IoW cutters and cutters, $1®2.25; sausage bulls mostly $3.25 dow’n; stockers, scarce; generally steady. Calves —Receipts. 300: steady: bulk better vealers, $4®j4.50; medium and lower grades. $3.50 down. Hogs—Receipts. 1,000; market mostly steady, considering quality and sort; general top on 185-273 lbs., $5; some closely sorted strictly grain fed hogs this weight, $5.10; most butchers 275 lbs? up. $3.40; 160-185 lbs., $4.10; 145160 lbs.. $3.75; 120-145 lbs.. $2.35; sows. $2.85. Sheep—Receipts. 2,000; market not established on lambs: few bids and indications fully 25c higher: most sellers asking $8.25® 8.50 for better trucked in ewes and wethers and up to $9 or better for choice longhaul and overnight lambs; fat ewes mostly sl®2; stock ewes, ss®7 a head. Pays on Accumulations By Times Special CHICAGO, June 21. Peaslee Gaulbert Corporation this week declares a dividend of $1.75 a share on the 7 per cent preferred stock on account of accumulations. Connecticut Gas and Coke Securities Company votes to omit the regular quarterly dividend on the common stock. B. & O. Receives Loan By Times Special WASHINGTON, June 21.—Secretary of Interior Ickes has announced the signing of a contract for a public works loan of $1,900,000 to the Baltimore &; Ohio Railroad Company.

Chicago Stocks ■ “"(By Abbott. Hoppin Sc Cos.)

—June 21 — _ High. Low. Close. Allied Products Jf% Borg-Warner , ••• 24% Butler Bros 9% 9% 9'/* Chicago Corp pfd 27 Cities Service 2% Comwealth Edison -4% Cord Corp 4% 4% 4% Electric Household .... 15% 15% 15% Libby-McNeil 5% 5% 5% Louden Packing 36% Middle West Utilities . . % Noblitt-Sparks Indlnc ..13% 13 13 Quaker Oats H 5 Produce Markets Delivered in Indianapolis prices: Heavy hens, 10c; Leghorn hens. 7%c; 1934 broilers l'/a lbs. and over, 18c; Leghorn broilers 1 % lbs. and over, 16c; bareback broilers, 12c; old roosters. 3c; ducks and geese. 3c; young guineas, l'/a to 3 ibs., 20c; old guineas, 15c: No. 1 strictly fresh country run eggs, loss off 11c. 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. 28® 29c; No. 2, 26®27c. Butterfat. 22c; Quoted by Wadley Company. (By United Press) CHICAGO. June 21.—Eggs—Market, steady; receipts, 11.341 cases; extra firsts, 15%c; fresh graded firsts. 15'/*c; current receipts. 12%®13%c; dirties. No. 1. 12c; No. 2. 11c- checks, No. 1. ll%c; No. 2,11 c. Butter—Market, steady; receipts, 9,306 tubs; extra firsts (90-91 % score). 23%®! 24c; firsts (88-89% score), 22%@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 (88 score), 22%c. Poultry—Market, unsettled; receipts, 38 trucks; hens, heavy, 13c; medium, 12c; broilers, Leghorn light, 15%c; Plymouth Rock, 21%c: fryers, Plymouth Rocks, 22%c; springers, Rock, 24c; spring geese, 13c; turkeys, 14c; ducks, heavy spring, 14%c: Leghorns, 10c; old roosters, B%c: colored broilers, 20c. Cheese—Twins. 13'/®l3%c; Longhorns, 13%®!14c; Daisies, 13%@14c. Potatoes (old stock)—Supply moderate; demand light; market, dull; no sales reported. New stock—Supply moderate; demand and trading slow; market, steady on good stock; Arkansas Triumphs. $1.70; decayed. $1.45; Alabama Triumphs, $1.55® 1.60; showing decay, $1.30®>1.35; Louisiana Triumphs, $1.50: showing decay. $1.40; Arkansas Cobblers, $1.50; North Carolina Cobblers, $1.35; U. S. No. 2. $1.05; Oklahoma Cobblers. $1.40: North Carolina Barrels. $2.35. Arrivals, 86; on track. 279; shipments. 1.328. NEW YORK, June 21.—Potatoes, steady; southern, $,[email protected] barrel; Maine. sl® 2.25 barrel. Sweet potatoes, steady; Jersey. basket, $.50®2.25; southern, basket, $1.50. Flour, easier. Springs; patents, $7.15®7.40 barrel. Dressed poultry, steady, turkeys. 12%®27c; chickens. 9® 29c; broilers. 22®>29c; capons. 28®30c: fowls. ll®17c; ducks. 13%14c; Long Island ducks, 13@15c. Live poultry, firm. Geese, 6®loc; Turkeys, ll@19c; roosters, 9c; ducks. B@l3c; fowls. 14®17c: broilers, 12@27c. Cheese, steady; state whole milk fancy to specials, 18@19c. Butter, receipts 14,197 packages; market steadier; creamery higher than extras. 25%®j26c; extra <92 score). 25c; first (90-91 score) 24%® 24%c; fiirst (88189 score). 23%®:24c; seconds. 22%@23c; centralized (90 score), 24%®24%c; centralized (84-87 score. 22% ®23c. Eggs, receipts, 18.585 cases; market irregular; special packs, including unusual hennery selections. 19@22%c; standards. 18®18%c; firsts, 16%c: seconds. 15®15%c; mediums, 14%c dirties, 15c: checKs. 13%®14c; storage packs. 17c. CLEVELAND. June 21.—Butter—Market, steady; extras, 28%c; standard, 28%c. Eggs —Market, steady; extra white, 14%c; current receipts, 14c. Poultry—Market, firm; colored fowls, 6 lbs. and over, 14®15c: Leghorn fowl. 3%c and over, 12c; old roosters, 9c; ducks white. 5c and over, 14®. 15c. Potatoes—North Carolina, $2.60® 2.65 per barrel. MODERATE RAINFALL AIDS GROWING CROPS Wheat Headed and Ripening; in Most Sections of State. Moderate rainfall over the state during- the last week resulted in widespread benefit to growing crops, according to the United States department of agriculture. Wheat headed and ripening in practically all fields throughout the state, except a few in the northern counties, was too far advanced to show any great improvement. Corn benefited generally, though the condition of the crop is still on the average only fair and good. Oats however, in the majority of sections was beyond help. Corn cultivation and haying featured the outdoor activities during the week, with tomato cultivating, bean sowing, and clover cutting in the central division, and tobacco cultivation and wheat and rye harvesting in progress in the southern area. A few additional reports of rather serious chinch bug damage came from the west-central and northwestern counties. Oats, a poor crop in practically all sections, is reported not worth cutting in many localities. VOTE REGULATbIyrDEND Household Finance Makes. 87% Cents Disbursement on Preferred. By Times Special CHICAGO, June 21.—The regular quarterly dividend of 87% cents a share on the preferred stock, eliminating the extra dividend of 12 cents a share paid quarterly since April, 1933, was declared this week by directors of the Household Finance Corporation. The regular dividends of 75 cents each on the Class A and B common stocks also was declared. The payments will be made July 14 to holders of record June 30.

IT CLOSES §)©©SJ 9 The entire family reads and uses Telephone Directory Advertising Will they see YOUR advertisement in the new Indianapolis Telephone Directory? Now is the time for telephone subscribers to think of changes of address, extra listings and additional telephone requirements. Call the n . „ ACT AT ONCE in order that the changes you Directory Department Riley 9861 desire can be included in the new Directory. INDIANA BELL TELEPHONE COMPANY

Swift ft Cos 18'/. 17% 17 7 /. Swift Internacional ... 32 31% 32 Zenith Radio 3

Cash Grain

INDIANAPOLIS June 20— The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, basis 41% New Ynrlr rn fp wpr** Wheat—Weak:‘No. 1 red. 85%®86%c; No. 2 red, 84%@85%c; No. 2 hard, 84'%® 85 %c. Corn—Weak; No. 2 white, 57® 58c; No. 3 white. 56@57c; No. 2 yellow, 53®54c: No 3 yellow, 52@53c; No. 2 mixed. 52@53c; No. 3 mixed, 51®52c. Oats—Weak: No. 2 white. 39%@40%c: No. 3 white, 38%@39%c. Hay—Steady. (F. o. b. country points taking 23 %c or less rates to Cincinnati or Louisville). No. 1 timothy, 12@ 12.50. —lnspections Wheat—No. 1 red. 1 car; No. 2 red, 1 car. Total, 2 cars. Corn—No. 2 white, 4 cars; No. 3 white. 3 cars; No. 2 yellow-, 3 cars; No. 3 yellow, 11 cars; No. 4 yellow, 3 cars; No. 5 yellow, 1 car. Total, 25 cars. Oats—No. 2 white, 6 cars; No. 4 white, 1 car; Sample white, 1 car. Total, 8 cars. (By United Press) CHICAGO. June 20.—Cash grain: Wheat —No. 2 hard. 96%c. Corn—No. 2 mixed 59%c: No. 2 yellow. 61c; No. 3 yellow 60%c; No. 2 white. 63%c; No. 3 white 63%c. Oats—No. 2 white. 43%®44c No. 3 white. 43%®43%c: No. 4 white. 42%c. Rye—No sales. Barley—Quotable. 55c® sl.Ol. Timothy—s9.2s®9.so. Clover seed —510.25® 14.50. Cash provisions—Lard $6.55: lose. $6.10; leaf. $6.12; bellies. $9.50. TOLEDO. June 20.—Grain close; (Grain m elevators, transit billing.) Wheat—No. 2 red, 95@96c. Corn—No. 2 yellow-, 62% ®63%c. Oats—No. 2 white. 47%@48%c. Rye—No. 2. 68®69c. Track prices. 28%c rate. Wheat—No. 1 red. 91%®92c: No. 2 red 90%®91c. Corn—No. 2 yellow-. 5S@ 59c: No. 3 yellow-. 57@58c: No. 4 yellow. 56®57c. Oats —No. 2 white. 44%®45%c: No. 3 w-hite. 44® 45c. Toledo seed close. Clover—Cash. $8.25. Alsike—Cash. $8.50. ST. LOUIS. June 20.—Cash grain: Wheat —ln fair demand, l%c lower on red and 2%c lower on hard w-heat; No. 2 red. 92® 93c: No. 5 red, 89c; No. 2 hard, 94c nominal. Corn—ln fair demand, unchanged to %c lower; No. 2 yellow, 61c; No. 3 yellow, 60%c: No. 4 yellow. 59%c. Oats —In light offerings; nominally unchanged: No. 2 white. 45c nominal. NEW YORK, June 20.—Cash grain: Wheat—No. 2 red. $1.09%; No. 2 hard winter. $1.11%. Corn—No. 2 mixed. 64 %c. Oats—No. 3 white, 53%c. On Commission Row —June 21— —Fruits— Apples—Fancy Winesaps. $2.25. Cherries —Home grown. 24-qt. crates. $2 @2.50. Oranges—California, Sunkist. $5.25@6; Valentias, 54.75@6. Lemons—Sunkist, $7. Grapefruit—Florida seedless, [email protected]. Straw-berries—Home grown 24-qt. crate, $2.50® 3. Raspberries—Southern Indiana black, 24pt. crate, $1.75@2. 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— Sw-eet Corn—Alabama. 5-dozen crate, $1,500)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. 51.90; Colorado McClures. $2; Idaho Russets. 100lb bag, $2; new Texas Triumphs, $1.85. Sweet Potatoes—Tennessee Nancy Hanks, hamper, $2.40. sl^25 ParaSUS — Home Brown, dozen. 65c® Beans—Round, stringless. $1.60; Kentucky Wonders, $1.75. 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. 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, sl.lO- original Texas. 30-lb. lug. $1.50. CHICAGO FRUIT MARKET (By United Press) CHICAGO. June 21.—Apples—Michigan Spies, s2® 2.25 bushel: Illinois Transparents. $1.50® 2.50 bushel. Carrots—California. [email protected] crates: central west, 90c bushel. Spinach—lllinois. 35® 65c bushel. Cucumbers—Central w-estern hothouse, 75c® $1.50 (two dozen to boxi Beans—Southern green. 75c®$l bushel; wax. sl@ 1.25. Tomatoes—Texas. 75c® sl.lO lug box. Sweet potatoes—Tennessee. $1.90@2 bushel hamper. Mushrooms —lllinois. 10@40c pound carton. Asparagus—lllinois, 65® 90c box. Strawberries— Michigan. $1®2.25 (16 quarts). Beans— Illinois green. 50® 75c (% bushel). Peaches—Georgia. 75c® $1.50 (% bushel). Onion market (50-pound sacks)—Texas yellows. $1.50® 1.75; Texas w-hites. $1.50; California yellows. $1.40® 1.50; California whites, $1.50.

Government Bonds Home Owners’ Loan Corporation and . ' Municipal Bonds The Union Trust Cos. of Indianapolis BOND DEPARTMENT 120 E. Market Riley 5341

JUNE 21,1934

GRAIN MARKET 1 SHOWS UNEVEN TRADINGRANGE All Deliveries Steady to Shade Lower; Heavy Rains Reported. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, June 21.—There was little change in the character of the news and grain prices opened steady to a shade lower on the Chicago Board of Trade today. Wheat was unchanged to % cent off; corn unchanged to V% cent lower; oats was % cent off, and rye was Is cent lower to Vs cent higher. There were constant fears of further hedging pressure in wheat, - but the northwest generally remained dry and warm. For the most part the corn belt was clear and warm, although parts of northern Illinois and southern Wisconsin received heavy rains overnight. Oats held firm but lacked leadership. Chicago Futures Range —June 21— WheatHigh. Low. 10.00. close. £ ul V 92% .91% .91 % 92% ® e P l 93 .91% .91% .92'* Dec 94 % .92% .92% .93% Corn— July 58% .57% .57% .57% Se Pt .59% .58% .58% 59% Dec 59% .58% .58% '.59 •* Oats— July 42 "i .42% .42% 42% Sept 42% .42% .42% .42% Dec 43% .43!* .43% .43% Rye— 7 July 64 .63%- .63% .635* Sept 65% .64% .64% 65% Dec 67% .67 .67 .67% Barley— July 58% .58' i' Sept .. .. .52% CHICAGO PRIMARY RECEIPTS —June 20Bushels „ . Today. Last Wk. Wheat 962.000 541.000 Corn 257.000 284.000 OatA 45,000 76,000 Local Wagon Wheat City grain elevators are paving 81 cent* for No. 2 soft red wheat. Other grades on their merits THIRTY-ONE SECURITIES REGISTERED IN MONTH May Figures Bring Total for Year to 179 Issues, By Times Special WASHINGTON, June 21.—Federal trade commission reports thirty-one registration statements under the federal securities act, involving 463,428 on new capital issues, exclusive of reorganization securities became effective during May. The figures brought the total for the first five months this year to 179 issues, involving $299,954,055 of securities. A total of $48,000,982 of securities were listed under manufacturing industries during the five months. Approximately 70 per cent of the amount was accounted for by brewing, distilling and spiritous liquor industries. Aetna Resumes Dividend By Times Special NEW YORK. June 21.—A dividend of 10 cents a share on the common stock has been declared by directors of the Aetna Life Insurance Company, payable July 2, of record June 16. The payment is the first made since April, 1932, when 30 cents a share was pa;d.