Indianapolis Times, Volume 46, Number 42, Indianapolis, Marion County, 29 June 1934 — Page 30

PAGE 30

Wall Street Trade Agreements Have Important Bearing on General Business. BY RALPH lILNULUsUUI

Times SBfful Financial Writer Street anxiously awaited VV and has been waiting ever since congress adjourned—for a clear expression of the administrations policies by President Roosevelt. It is hopeful also that the President will toss out the olive branch to business now that reforms demanded earlier have been nearly all en-

acted into law. The Prcsi- j dent holds: an un us u a 11 amount of power over i the nation’s ! financial and business poli- ; cies. this pow- 1 er having been given to I him by con-| gross Conse- j q u e n t ly his > every word ; and action is | c o ir.manding

Hcndershot

utmost attention in the hope that they will provide some clew as to his leanings. ana C"OME months ago the big issue O seemed to be to get commodity prices back to 1926 levels. This has not been accomplished, and of late little has been said about it. Wall Street is wondering whether thei idea has been abandoned or further inflation will be ordered in an attempt to carry out the original intent. The President's international trade plans also are eagerly awaited. The raising or lowering of j tariffs and other trade agreements always has an important bearing on general business. It is quite difficult for many companies to lay! plans for the future or to make j credit arrangements so long as such questions remain unanswered. u a a IN all probability the President's) plans will be made known before the fall elections roll around. In fact this would seem quite necessary. Whether the Chief Executive wishes to get mixed up in local politics or not the public will be voting on the New Deal to a very large extent when it casts its ballots for congressman. And those who are running for office will be put in an embarrassing position if they are unable to tell their constituents what it is all about. Some silver advocates have become dissatisfied with the way the treasury' department has been carrying out the dictates of congress regarding the white metal. The point is made that silver for July delivery is selling nearly 100 points lower here than in London, indicating. it is claimed, that buying is not going ahead here, as was promised, j In fact, charges have been made J that the government has been sell- j ing some of its silver. N. Y. Coffee, Sugar Futures —June 28— COFFEE —Santos— High. Low. Close. March 10 87 10 45 10.55 Mav 10 73 10 56 10 63 Julv 9 70 9 67 9 76 September 10 37 10 20 10 25 December 10 59 10.35 10.47 ■— R io— January 7.90 March 8 07 Mav 8 13 8 00 8 02 July 7 65 7.53 7.57 September 7 73 7 71 7.73 December 8 04 7.77 8 04 &I'GAR Hish. Low. Close January 1 83 1 80 1.83 March 1 89 1 86 1 88 Mav 1 93 1 90 1 92 Julv 1 67 1 63 1 67 September 1 73 1 69 1.73 December 1 82 1.78 1.82 In the Cotton Markets —June 28— CHICAGO High. Low Close January 12 76 12 65 12 76 March 12 85 12 75 12 85 Julv 12 35 12 25 12 33 October 12 58 12 47 12 58 December 12 73 12.61 12.71 NEW YORK January .............. 12 67 12 56 12 65 March 12 77 12 67 12 76 Mav 12 88 12 77 12 87 Julv 12 24 12 12 12 22 October 12 50 12 33 12 47 December 12 63 12.52 12.61 NEW ORLEANS January 12 67 March 12 76 12 64 12 73 i Mav 12 85 12 81 12 83 July 12 21 12 08 12 21 October 12 46 12 35 12 44 December 12 59 12.48 12.58 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal deal- I ers A cssh discount of 25 cents per ton j Is allowed Domestic Retail Price* Anthracite sl3 50 j Brasil lump 6 00 j Brai.il egg 5 50 Brazil mine run 5 25 Coke, nut size 825 Coke egg size 825 Indiana forked lump 6.00 Indiana egg 5 75 Kentucky lump 7 00 Pocahontas lump - 800 Pocahontas egg 803 Pocahontas forked lump 900 Pocahontas mine run 725 New River smokeless 8 00 West Virginia lump 675 West Virginia egg 6.50 Island Creek .. - ■ <OO Extra charge of 30c a ton for wheeling coal, and $1 a ton for coal carried to bin. PRODUCTION OF PACKING HOUSES UP DURING MAY Month's Total 18 Per Cent Above April; Sales Gain. By / ime, Special CHICAGO. June 29.—Production of packing houses in the United States swelled greatly during May, rising to a higher level than in any month since January, showing an increase of 18 per cent over April and an advance of 11 per cent over the average for the years 1924 to 1933. Sales were the highest since October. 1931. The huge gain was attributed to heavy marketing of cattle from drought stricken areas. The Federal Reserve bank otVChicago. which made the report, announced there was a demand equal to the task of assimilating sales at about the same price level as in April. Prices were considerable higher than last year, but lower than for the 192433. average. Employment and wages in the industry rose sharply during the month over the corresponding month last year, the former showing a gain of 54 per cent and the latter a nse of 6 per cent. Number of hours worked advanced 44 per cent. * Insurance Sales Rise By Time# Special CHICAGO. June 29 —Total sales of life insurance in the state of TiHnnis during May amounted to $48,695,000, an increase of 21 per cent over May 1933 the Illinois Chamber of Commerce reports.

STOCK SHARES UP SLIGHTLY IN LIGHT TRADING Street Disappointed Over Roosevelt’s Speech; Silvers Ease. RV ELMER C. WALZER t nitert Prf*i Financial Editor NEW YORK. June 29.—Initial prices on the New York Stock Ex- ; change were slightly higher today in light trading, while silver futures I spurted, cotton gained a few points, bonds were mixed in a narrow range and the dollar firmed slightly. Wall Street was mildly dis- j appointed in President Roosevelt's j speech in that he failed to mention commodities or another rise in the gold price. Encouragement was derived from his remarks indicating there would be no regimentation and that no radical changes would be made in fundamental American traditions. American Can and United States Industrial Alcohol gained a i point each to 974 and 434. respectively, while gains of 4 or 4 point were noted in Socony Vacuum. Columbia Gas, International Telephone, ] Standard Oil of California. Inter- | national Nickel, and Auburn Automobile. Steel common slipped back 4 point to 39% on the first sale, and: equally small losses were noted in Atchison. Phillips Petroleum, Montgomery Ward, and Alaska Juneau. Volume continued small after the j opening. Prices held around the! initial levels. Silver shares eased j slightly after a steady opening. ■ American Telephone dipped 4 to 1144. Money and Exchange INDIANAPOLIS BANK CLEARINGS —June 28— Clearines $1,758.000 00 Debits 4.355.000.00 FOREIGN EXCHANGE (By Abbott. Hoppin <te Cos.) —June 28—■ Close. Sterling England $5.06' 2 Franc, France 0660)4 Lira Italy 0855 Beigias. Belgium 2340 Mark. Germany 3927 Guilder. Holland 6794 Peseta, Spain .1369 Krone. Norway 2546 Krone. Denmark 2264 Treasury Statement <Bv United Press) WASHINGTON. June 29.—Government expenses and receipts of the current fiscal var to June 27, compared with the corresponding period of the previous fiscal year: This year Last year. Expenses $6 969 957.702 70 $5,068,311,285.61 | Receipts. $3,088,213.281 58 $2,063,606,984.04 Deficit - $3 881.744.421 12 $3,005,204,337.57 Cash balance $2,639,900,446 98 Investment Trust Shares ißv Abbott. Hoppin & Cos.) —June 28Bid Ask. I Am Bank Stocks Corp 110 1.14 , Am & Gen Sec A 4.50 4.60 Am & Inv Tr Sh 1.75 Basic Industry Shares 3.30 .... British Tvpe Inv Tr Sh ... 44 .50 Collateral Trustee Shares A . 460 4.70 Corporate Trust Shares 'old). 2.06 2.10 Corporate Trust Shares (new). 2.31 2 34 Cumulative Trust Shares.... 296 3.02 Diversified Trust Shs A 625 . . Diversified Trust Shs B 7.37 762 I Diversified Trust Shares C... 3.00 3.05 Diversified Trust Shs D ..... 4.50 4 60 First Insurance Stock Corp.. .87 1.00 First Common Stock Corp ... 65 .70 Fixed Trust Oil Shares A... 800 Fixed Trust Oil Shares B .. 7.00 .... Fundamental Share. Inc 1 95 2.15 Incorporators Invest 17.25 18 37 Land Bank Bond Shares ... 120 1.33 Low Priced Trust Shares .... 5.25 5.85 Mass Inv Trust Shares 18.66 20 28 Nation Wide Securities .. . 3.28 3.34 North Am Trust Shares ' 53*. 1.88 North A Trust. Shares 155-56 2 35 2.37 North Am Trust Shares 58).. 230 2.35 Selected American Shares 2.54 Selected American Shares Inc 1.16 1.25 Selected Cumulative Shares.. 6.50 Selected Income Shares 3 36 3 87 Std Am Trust Shares A .... 289 293 Trust hares of America.... 2.68 2.73 Trustee Std Oil A 5.55 5.70 Trustee Std Oil B 5.05 510 U S Elec Lt & Pwr A 12 37 12 62 Universal Trust Shares 3 00 3.05 Daily Price Index (Bv United Press) NEW YORK. T un- 28 —Dun & Bradstreet s daily weiehted price index of thirtv commoditier compiled for the Unitea Press: (1930-1932 Average. 100) Today 113.04 Yesterday 112.43 Week ago 112.07 Month aeo 11024 Year ago <June 29* 98.43 1934 high < June 19) 113.68 ; 1934 low 1 Jan. 3) 101.05 Copyright. 1934 bv Dun & Bradstreet. Inc. 1 New York Bank Stocks (By Abbott, Hoppin & Cos.) —June 28— Bid. Ask. Bankers 63% 63 3 : Brooklyn Trust 105 109 I Central Hanover 127 128 j Chase National 27 27% Chemical 40% 40% National City 28% 28% Corn Exchange 51 514 Continental 13% 14 Empire w-...... 19 19% First National 1.600 1.675 Guaranty 358 360 Irving 16% 17 Manhatten & Cos 30', 30% Manufacturers 21 21% New York Trust 105 106 ! Ihlblic 34 34% j

Bright Spots (B Abbott. Hob Pin St Co.i

Paciflr Lighting Corporation declares a quarterly dividend of .5 cents a share on th? common stock, payable Aug. 15. of 1 record July 20. Norfolk * Western Railroad Company ; car loadings in the week ended June ! 23 totaled 21.679 cars as compared with 21.611 in the preceding week and 22.139 cars in the corresponding 1933 week. S' Louis A- Southwestern Railroad Com- J pany gross income in the first five months this vear amounted to $6,851,938 against $5 784.176 in the first five months 01 last year. Reading Railroad Company declares a dividend of 50 cents a share on the common stock. Warren Foundrv and Pipe Compinv de- ! Clares a dividend of 50 cents a common share. American Home Products Company declares a monthly dividend of 20 cents a common share, pavable Aug. 1. of record July 1. ELECTRIC OUTPUT RISES 4.8 PER CENT IN WEEK Production Totals 1.674.266.000 Kilowatt Hours. By Times Special CHICAGO. June 29—National output of electricity during the week ended June 23 totaled 1.674.266.000 kilowatt hours, an increase of 4.8 per cent over the corresponding 1933 week. In the preceding week output was 1.665.358.000 kilowatt hours. The report, issued by the Edison Electric Institute showed total output in Chicago alone amounted to 97.874000 kilowatt haul's an increase of 8.2 per cent over the similar 1933 week. In the preceding week output totaled 97693.000 kilowatt hours. The increase in Chicago over early months this year is attributed to the Century of Progress. Gains by districts last week over the corresponding 1933 week was as follows: Middle Atlantic, 6.6 per cent central industrials, 5.7 per cent; west central. 7.4 per cent and southern states, 4.3 per cent. %

New York Stocks ”———— — |bv ADOott. Hoppin & Coj ——————

AVERAGE STOCK PRICES FOR THURSDAY Net High. Low. Close, change. Thirty industrials 97.83 96.18 87.14 - .20 Twenty rails 44.78 44.08 44.59 +.12 Twenty utilities 24.36 23.98 23.21 —.lO Forty bonds .... 94.85 +.14 Ten first rails .... 101.74 +.13 Ten second raiLs .... 81.65 -.30 Ten utilities .... 98.61 —.Ol Ten industrials .... 97.42 - .15 + Up. -Off.

—June 29 Oil* Prev. High. Close. 10 30. close. Atl Rfg 24% 25 Bamsdail <% I Consol Oil 10% 10% i Cont of Del 19% 19 1 Houston icid) 20 % ! Mid Cont Pet 13 Ohio Oil 11% Per Corp 10% Phillips Pet 17% 17% Plymouth Oil ••• 11% Pure 0:1 10% Sod Oil 32% Shell Un 8% Soc Vac ... 16% 16 SO cf Cal 35 V* 35 S O of N J 44 >4 Sun Oil 62% Texas Corp 24 23 % Tidewater Assn 12% Un Oil of Cal .... ... ... 16% Steels— Am Roll Mills 19% Be’h Steel 34% Byers AM ••• 24% Col Fuel & Iron 6% Cruc Steel 22 % Inland Steel ... 38 Ludlum Steel 14 McKeesport Tin 8 ‘, 2 Natl Steel 41% 41% Otis Steel ,2% Rep Irn & Steel 16% Rep Irn&Stl pfd 46 45% U S S'eel 38% 39% U S Steel pfd 84 Warren Bros „?% Young wn S & T .•• 20% Motors— Auburn 25% 25 Chrysler ... 4040% Gen Motors ... • • 31% 31% Graham M0t.... 2% 2 2_ 2% Hudson 10 9% 9% 9% Hupp 3% 3% Mack Truck 2;>% Nash 16 16 Packard 3 % 3% Reo 3% 3 Studebaker ••• 4% **/ Motor Access— Bendix 15% 15 Bohn Alum • 56 Borg Warner 23 23 Briggs , 17% 17% Buao Wheel 33% Eaton Ms 16% ••• Elec Auto Lite 21% Houdaille A 4% Mullins Mfg pfd 33% Murray Body.. .. ... 6% 6% Stew Warner Timken Roll 30 30 Timken Det Axel 6% Mining— Alaska Jun 21% 22 Am Metals 24 Am Smelt 44 43% 43% 43% Anaconda 15% 15% 15% 15% Cal & Hecla . • ■ •• • 4% Cerro de Pasco. 43% 42% 42% 43 Dome Mines , • ■ 44 Granby 10% 10% 10% 10 Gt Nor Ore 11% Homestake Min 412 Howe Sound ... 56% 56% 56% 56% Ins Copper 4ya Int Nickel 26% 26,* Int Silver 33 Kennecott Cop 22% 22% Mclntvre Mine 48 Noranda Cop 43 s Park Utah 4% Phelps Dodge 17, s St Joe Lead ••• 20% U S Smelters 130% 130 130 1304 Vanadium • •• • 21 Amusements— Crosley Radio. 15% Pox The a • • • • • •• - 13 V 2 Loews Inc 28% 28% 28% 27% Radio Corp 7 7 B K O •• • . • • 2 % Warner Bros 5% 5% Tobaccos— Am Tob (Al 74 74 Am Tob iB) 76% Gen Cigars 40 ,* Lig & Myers (B) ?6% Lorillard 18% Reynolds T 45% Rails— Atchison 57% 59% Atl Coast Lines 40 B & O 24 4 Can Pac 14% 14% Ch & Ohio 48 48 C M & St P 4% C M & St P pfd 77'b Chi N W 9% Chi N W pfd ... 17% Dela Sz Hud £5 Del Lac & W 23% 23% Erie 19 V* Grt 8 Northern"pf ' • '22% 20% 111 Central .... 25% 25% 25% 25% K C Sou 39% Lehigh Valley 15% Lou <Sc Nash ••• ••• 52% MK&T 9% M K & T pfd 23% Mo Pac pfd • • ■ •• • 6 N Y cent 29% 29% 29% 29% N Y C & St L pf 32 N Y New Haven 15% N Y Ont & West 7% Norfolk & Wes 183% Nor Pac 25 Penn R R 31% Reading 51% Sou Pac 25 24% 24% 24 Sou R R 24% 23% Sou R R pfd 31% Union Pac ... ••• 1227 Equipments— Allis Chalmers 15% 15% Am Car & Fdy 21 Am Loco •■ • 24 Am Mach <fc Fdy 14% Am Steel Fdy , 16% Bald Loco 10% 11% Burroughs 13% 14 Case J I 51 52 Cater Tract 27% Deere &Cos .... 20% 20% 20% 20% Elec St or Bat 43% Fester Wheeler 16 Gen Am Tank C 37% Gen Elec 20% 20% Gen R R Sig 33 Ingsol Rand ... 60 Int Harvester 33% Natl Cash Reg. .. 16% Pullman Inc 51 % Rem Rand 10% Und Elliot ■ 47% West Air B ... .. ... 22% 22% Westingh Elec.. 37% L'tilites — Am & For Pwr ... 8% Am Power & Lit 7% 7% 7% 79* AT&T ....114% 114% 114% 115 Am Wat Wks 20% Brook Un Gas. 67% Col Gas & Elec 14% 14% Com & Sou 2% 2% Consol Gas 34 34% Elec Pwr & Lit 5% 5% Int Hydro Elec 6% Int TANARUS& T 13% 13% Lou G & E A••• 16% Nat Pwr & Lit. •• • • 10% North Amer ... 17% 17% 17% 17% Pac O & E 18% Peoples Gas ••• 32% Postal Tel pfd 21 Pub Serv N J 36% So Cal Edison 16% 16% Std Gas 11% Std Gas pfd 12% Stone & Webster 8% 8% United Corp 5% 5% Un Gas Imp - „ 1% Western Union.. .. ... 46% 46Vs Rubbers — Goodrich 13 13% Goodyear 3 . Kelly Spring 2% U S Rubber 18% 18% U S Rubber pfd 451* Miscellaneous— Am Bank Note . 21% 21 Vi 21% 21 Am Can 97% 97 Brklyn Man Tr 38 Cont! Can • 80 Crown Cork 25% . Curtis Pub 21% Curtis Pub pfd 79% i9% Eastman Kodak _ ?9 Gillette 10% 10% Glidden 24% Foods— Am Sugar , 66 Armour A 5% S^g Borden Prod 269* 26% Cal Packing 33% Can Dry G Ale. 21% Coca Cola 1264 Corn Prod >7 Crm of Wheat 33 Cuban Am Sugar 8% 8% 8% 8% Gen Foods ... 31 a Gold Dust 20 20 G W Sugar 34% 34 34% 34% Int Salt ... Natl Biscuit . ••• 35 s * Natl D Prod 18% 18% 18% 18% Purity Bak 13; S Porto Rico Sug 36% Soencer Kellog . - Std Brands 20% 20% Un Biscuit 25% United Fruit <? Wrigley ••• 64 Retail Stores— F*irst Natl Stores 63% 64% Gimbel Bros 3:4 Gr Un Tea 6 Kresge S S , 19% Kroger Groc 313# 31% Macv R H 41 42% Marshall Fields 15% 15% Mav Dept St • 38 ... Mont Ward 28% 27% 28 28% Natl Tea 12% Pennv J>C 58% Safewav St ... • 50% 50 Sears Roebuck 42% 42% 42% 43% Woolworth ... 50% 50% Aviation— Aviation Corp 6% 6% Curtits Wright 3% 3% Curtiss Wrt A 10% 10 Douglas Air 20% Nor Am Av 4% Speerv Corp 8% United Aircraft 18% 18% j Wright Aero ••• 51% | Chemicals—- : Air Reduction 100% , Allied Chem 132 131% I Am Com Alcohol 35 Coi Carbon . 74 Com Solvents .. 22% 22% 22% 22% Dupont ... 90 90% Freeport Tex 32% 32% Liquid Carb ... 28% 28% Math Alkali 32% Montosor.ta Ch 50% Natl D:s mew) 23% 23% Scheneley Dist ... 27 % Tex Gulf Sulph . 34% Union Carbide 43% . U S I&Cu A.co

THE INDIANAPOLIS TIMES

Drugs— Coty Ir.c 5% 6 Lambert 25% Lehn & Fink 20 Un Drug 15% Zonite Prod 5% Financial— Adams Exp 7% Allegheny Corp 2% Chesa Corp 46 Lehman Corp .. ... 69 Transamerica .. 6% 6% 6% 6% Tr Conti Corp 4% 4% Building— Am Radator 14% 14% Gen Asphalt 19% 19 Johns Manville . .. ... 53% 54 Libby Owens Gls 31 % Otis Elev i5Vg Ulen Const 2% Household— Col Pal Pset 18 Kelvinator 17 17 Proc & Gamble 36% Simmons Bed 16 Textiles— Amer Woolen 10% 10% Belding Hem 12% Celanese Corp 26 Collins Aikman 16 Gotham Hose 7% Indus Ravon 25% 25 Kavser Julius 17 17 New York Curb (Bv Abbott. HoDDin & Cos.) —June 28— Closel Close All Mills B%Hir Walker 37 Al Cos of A . 6794 Hud Bay Min. 14 Am Cyan "E". 18 Humble Oil 41% Am G & E .. 27% Imp Oil Lim .. 15 Am Superpwr . 2% Int Petrol ... 27% As Gas & E.. 3% Lake Shore Min. 54% Atlas Corn .. 10% Libbv McN Lib 5% British Celan . 3% Lone Star Gas 6% Can In Al "A”. 9% Nat Bel Hess.. 3% Can Marc 2% Newmont Hin .. 53 Carrier Corn .. 7% Nia Hud Pwr .. 5% Coties Serv 2%Novadel Agfene. 20% Consol Gos B. 66 Pan Am Arw'vs 3% Cord Corn ... 4 Park Davis ... 24% Creole Pet 12% Penn Road 2% Deere &Cos ... 21 St. Regis Pa .. 3% Distillers Lim. 23 Sal Creek Prod 6% Distillers Corn- 15% Sherwin Wms. 69% Dow Chem .. 96% Std of Ind ... 27% El Bond & Sh .15% Std of Kv 16% Fisk Rub 10%: Techmniclr Ind 13% Ford of Eur ... 7% Teck Hu Gld . 6% Gen Avia 4%'Un Gas . 4... 2% Glen Al Coal . 19% Un Pwr & L AA 2% Gulf Oil of Pa 64% Wrght Har Min 99*

Chicago Stocks (By Abbott. HopDln & Cos. 1

June 29 High. Low. 11:30. Asbestos Mfg 2% Berghoff 7 Bastian Blessing 4% Borg Warner 23V a Butler Bros 8% Cent 111 Securities pfd 7% Chicago Corp com ... 2 Cities Service . ... 2 Commonwealth Edison 52% Cord Corp 4 3% 4 Gen Household Ut 12% 12% 12% Kingsbury 4% 4% 4% Libby McNeil 5% Lion Oil Refining Cos 4 Middle West Utilities .... ... i/ Swift &Cos 18‘/s 17% 17% Swift Intersiacional 31% U S Gypsum Com 44% Utility & Ind 1 Vortex Cup Cos 13% Walgreen Cos com 27

Bond Prices f ßv Fenner Beane' '

—June 29 High. Low. 10:30. Alleg Corp 5s ‘SO 38 A T & T db 5s ’65 110% Atchison Gen 4s ’95 103 102% 102% B&Ocv 4%s ’6O 65% 65% 65% Beth Steel 5s A ’36 102% Brazil 6%s (26 ’57 45% C & O 5s A ’39 110% CMStP&P adj 5s A 2000 13% 13% 13>/2 C M St P & P rs 5s A ’75 40 39>/ 2 39% Cons Gas N Y 4%s 'sl 104% Goodyear 5s ’57 100% 100% 100% Gt Nor 4VaS D ’76 77% 77% 77% Gt Nor. 7s A ’36 95% 95% 95% Interboro R T 5s '66 ... 71% Int T & T db 5s ’55 ... 64 McKess & Robb 512S ’SO . . . 32% Nat Dairy db 5%s ’4B . 98V 2 98Va 98% N Y Cent 4%s O 2013.. 75% 74% 74% Nor Am 5s ’6l 8f) Pac Gas & El 5s A ’42 106% Penn R R 4%s D ’Bl .. 97% 97% 97% Shell Un Oil 5s ’47 99% Sin Cons 6%s B ’3B 104% Texas Corp 5s ’44 : 103% Tob Pr N J 6%s 2022 105% Un Pac Ist 4s ’47 ...106 105% 105% U S Rubber 5s A '47 85% Ygstwn S & T 5s B ’7O 84% U. S. GOVERNMENT BONDS (By United Press) NEW YORK. June 28.—Closing Liberties; (Decimals represent 32nds.). —Liberty—--3%s (32-47) 104 5 First 4%s (32-47) 103 7 Fourth 4!is (33-38) 103.24 —Treasury— 4 1 45-3%s (45) 103.23 4%S 147-52) 113.5 3%s (43-47) 104.18 3%s (41-43) March 105.2 3%s (40-43i June 105.1 3%s (431 J 05.1 3%S (46-48) 102.14 3s (51-55) 101.14 FEDERAL FARM LOAN BONDS (By Blyth & Cos.. Inc.) —June 28— „ - Bid. Ask. 4s Nov. 1, 1957-37 100% 101% 4s May 1. 1958-38 100% 101% 4%s July 1, 1956-36 100% 101% 4%s Jan. 1, 1957-37 100% 101% 4%s May 1, 1957-37 100% 301% 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% 4%s July 3. 1953-33 100% 101% 4%s Jan. 1. 1955-35 100% 101% 4%s Jan. 1. 1956-36 101% 102 4% July 1, 1953-33 100 100% 4%s Jan. 1. 1954-34 100 300% 4% July 1. 1954-34 100 • 100% 5s May 1, 1941-31 101 Vs 101% 5s Nov. 1. 1941-31 101% 101% —Home Loan—--4s July 1. 1951 100.30 —Federal Farm Mortgage Corporation—--3%s March 15, 1964-44 101.23 The two latter quotations are in thitryseconds. PAN-AMERICAN MAKES INITIAL DISBURSEMENT Dividend Is First Paid by Firm in Seven Y’ears of Existence. By Times Special CHICAGO, June 29.—Pan-Ameri-can Airways Corporation this week declared a dividend of 25 cents a share on the common stock, the first disbursement since the company was formulated seven years ago. In announcing the payment, J. T. Trippe. president, said mail, passenger and express traffic over all divisions of the system has steadily improved this year. Directors of Central Power and Light Company, indirect subsidiary of Middle West Utilities, authorized payments of 43 cents a share on the 7 per cent cumulative preferred stock and 37% cents a share on the 6 per cent preferred stock, the first payment on either since last November. DOLLAR REMAINS WEAK Pound Equal to in United States Currency at London. By United Press LONDON, June 29.—The dollar was weaker today. The pound was $5.06%. Gold fell 2 cents to $34.774 a fine ounce with the sterling price 137 shillings five pence, down three pence. Yesterday’s price was fixed with the pound at $5,054. PARIS. June 29—The dollar was weaker today with the franc at 15.15 to the dollar (6.601 cents a franc). Net Earnings Reported American Water Works and Electric Company for the year ended May 31. 1934. reports net earnings equivalent, after payment of preferred dividends, to $1.43 a share on its common stock, comparing with 95 cents a share as adjusted for the year ended May 31, 1933.

Hoe PRICES UP 5 TO 20 CENTS; CATTLE STEADY Lamb Market Again Moves Sharply Lower; Veals Remain Even. Porker prices regained part of the sharp decline of the previous local stockyards this morning. Most classes were around 5 to 10 cents higher than yesterday’s average, while practically all underweights advanced from 10 to 20 cents. The bulk of all weights, scaling 160 pounds and up, was selling at 54.60 to $4.85. Early top held at $4.90. Small slaughter pigs, weighing 130 to 160 pounds, brought $3.60 to $4.10. Other light grades, ranging 100 to 130 pounds, were salable at $2.85 to $3.35. Packig sows sold at $3.50 to $4.15. Receipts were estimated at 5.000; holdovers. 807. The cattle market was fairly active in a wek-end clean-up trade, with practically all classes fully steady at the previous close. Nothing was on hand to command top prices. Receipts were 400. Trading continued in narrow limits in the veal market, and all grades sold at $4.50 down. Receipts were 500. Another 50-cent drop featured trading in the lamb market following a similiar decline yesterday. Bulk of good ewe and wether lambs sold at SB. Bucks ranged from $7 down. Throwouts were salable at $5.50 and less, while slaughter sheep remained unchanged. Receipts were 1,000. Asking was strong on hogs at Chicago, with no early bids evident. Receipts were estimated at 18,000, including 9.000 directs; holdovers, 4,000. Cattle receipts were 4,000; calves, 2,000; arket steady. Sheep receipts 6,000; market steady. June Bulk. Top. Receipts. 23. $4.90® 5.10 $5.15 1,500 25. 4 85® 5.00 5.10 7.500 26. 4.85® 5.10 5.15 8 000 27. 4.70® 5.05 5.10 7.000 28. 4.50® 4.60 4.85 7,000 29. 4.60® 4.85 4.90 5,000 Market, Lower (140-160) Good and choice ...$ 3.85® 4.10 —Light Weights—-(l6o-180) Good and choice.... 4.60 (180-200) Good and choice ... 4.65® 4.70 —Medium Weights—-(2oo-220) Good and choice.... 4,75® 4.80 (220-250) Good and choice.... 4.80® 4.90 —Heavy Weights—-(2so-290) Good and choice.... 4.85® 4.90 (290-350) Good and choice.... 4.75® 4.85 —Packing Sows—(2so down) Good 3.85® 4.15 (250 lbs.) Good 3.50® 4.00 ((All weights) Medium 3.25® 3.75 —Slaughter Pigs—-(loo-130) Good and choice.... 2.85® 3.35 CATTLE Receipts, 400; Market, Steady Good and choice $ 6.50@ 9.00 Common and medium 4.00® 6.75 U.IOO-1,500) Good and choice 7.25® 9.25 Common and Medium 5.50® 750 (675-750) Good and choice 5.50® 7.00 Common and medium 3.25® 5.75 (750-9001 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.. 50® 2.50 VEALERS Receipts, 500; Market. ' ady Good and choice > 4.00® 4.50 Medium 2.50® 4.00 Cull and common 1.50® 2.50 —Calves— Good and choice 4.50@ 5.50 Common and medium 2.50® 4.50 —Feeder and Stocker CattleGood and choice 4.25® 5.75 Common and medium 3.00® 4.25 (800-1,500) Good and choice 4.25® 5.75 Common and medium 3.00® 4.25 SHEEP AND LAMBS Receipts, 1,000; Market, Lower (Shorn Basis) Spring lambs, good & choice $ 7.75® 8.00 (90-110 lbs.) Good and choice 7.00® 7.75 (90 lbs. down) Com. and med. 5.50® 7.00 —Ewes— Good and choice 2.00® 3.00 Common and medium 1.50® 2.00 Other Livestock (By United Press) CHICAGO 1 , June 29. Hogs Receipts, 18.000, including 9,000 directs; active, fully 10 cents higher than yesterday, 2201320 lbs.. S4.9OCC/5; top $5.05: 170-210 lbs.. $4.35 (ft 4.90: light lights, [email protected]; good pigs. S3O/3.50: packing sows, s4ifi4.3o; light lights, 140-160 lbs., good and choice. $3.75 (f,*4.35; light W'eight 160-200 lbs., good and choice, $4.15(0 4.90; medium weights. 200250 lbs., good and choice, $4.75©5.05: heavy weights. 250-350 lbs.. good and choice. $4.90(0 5.05: packing sows, 275-550 lbs., medium and choice, $3.60®4.40: slaughter nigs. 100-130 lbs., good and choice, $2.75(0 3.75. Cattle Receipts. 4.000: calves. 2,000; slow; steady market on most killing classes; killing quality plain; ocal demand narrow; very few cattle in crop wel finished enough to interest eastern shippers: ower grade killing steers down to $3: bulk. $4.50W6.50; best yearlings. 57.90: practically all kinds reflecting week's 25 to 50 cents downtorn; bulls and veaiers steady; catch-as-catch-can market on cows and heifers; slaughter cattle and veaiers: steers 550-900 lbs., food and choice. $5.75*0 8.50: 900-1.100 lbs.. ood and choice. $5,754/9.50: 1.100-1.300 lbs., good and choice. $6.50® 10.35: 1,3001.500 lbs., good and choice. $7.50® 10.35: 550-1,300 lbs., common and medium. s3® 7.50: heifers, 550-750 lbs., good and choice. $4.7506.75; common and medium. $2.25® 5: cows good. $3.7505; common and medium. $2.35® 3.75; low cutter and cutter. $1.5002.35: bulls yearlings excluded good beef. S3O 3.75; cutter common and medium, $3.500 4: cull and common, $2.50® 3.50: Stocker and feeder cattle: steers, 5501.050 lbs., good and choice. [email protected]; common and medium. S3®4. Sheep—Receipts. 6 000; most classes in meagre supply; steady: good to choice native spring lambs, $8.250 8.50 to packers under moderate sort; throwouts, $6 0 6.50; fat ewes. sl®2. slaughter sheep and lambs: spring lambs, good and choice. $8®8.85: medium. $6.50 08: ewes. 90-150 lbs., good and choice, $1.50@2 25; all weights common and medium. $1®1.75. LAFAYETE, June 29. Hogs-Market 5® 10c higher; 250-300 lbs.. $4.75: 300-325 lbs.. $4.60: 225-250 lbs., $4.70; 210-225 lbs., $4.65; 200-210 lbs.. 54.60: 190-200 lbs.. $4.50; 180-190 lbs . $4.45: 170-180 lbs.. $4.40; 160-170 lbs.. $4.35: 150-160 lbs.. 53.85;140150 lbs.. $3.60: 130-140 lbs., $3.35: 100-130 lbs.. $2.60 0 3.10: roughs. $4 down; top calves. $4: yearling lambs. $7; spring lambs. $70,7.50. FT. WAYNE. June 29.—Hogs—Steady to 15c higher: 250-300 lbs.. $4.75; 200-250 lbs.. 54.65; 180-200 lbs.. $4.55: 160-180 lbs., $4 45: 300-350 lb? . $4.65: 15-160 lbs.. $3.85: 140-15 lbs.. $3.60: 130-140 lbs.. $3.35: 120130 lbs.. S3: 100-120 lbs., $2.75; roughs, 53.50; tags, $1.75. Calves. $4.50; lambs, SB. (Bv Times Special) LOUISVILLE. June 29.—Cattle—Receipts, 75: supply meager; largely plainer grade grassers; market around steady: bulk common to medium steers and heifers quotable. s4®s; thin fleshed grassers in cutter flesh down to $3 or less; strictly good dryfeds quotable to around $6.25: bulk beef cows, $2.500 3; good smooth kinds to $3.50 and above: bulk sausage bulls considered salable $2.250 2.75: best heavy kinds quotable higher Stockers absent. Calves—Receipts, 400: steady; bulk veaiers, s2® 4. according to weigh*, and quality. Hog—Receipts. 600: market mostly 10c lower: better 185-275 lb. weights mostly $4.70; few closely sorted choice kinds this weight. 54.-.75; most butchers from 275 lbs. up $4; few $4 05; 160-185 lbs.. $3.70; 145-160 lbs.. $3.35: 120145 lbs.. 51.95; sows. $2.45; grassy and unfinished hogs discounted 50c®31 .heep—receipts, 2.000: run includes two doubles rail lambs; market not fully established; earlv bids fully 50c or more lower; better truckedin spring lambs bid mostly. $7.50: few held higher: bidding mostly. $7.75®8 for better longhaul overnight and rail lambs; bucks discounted $1: few light medium lambs. $5.500 6; throwouts. s.o down; fat ewe mostly Sl®2: stock ewes quotable. $5.500 7.50 per head. Stockholders Benefit §6,000,000 By Timrg Special NEW YORK. June 29 —H. M. Warner president of Warner Brothers Pictures, Inc., in a letter to stockholders states that the company benefited to the extent of about $6,000,000 in the settlement of the litigation between the firm and the American Telephone and Telegraph Company and its subsidiaries.

Public Bank Deposits at Highest Point in History

Increase of $1,000,000,000 Shown Since End of February. BY RICHARD L. GRIDLEY United Press Staff Correspondent WASHINGTON, June 29—A 1,000.000,000 increase in the public's bank deposits since the end of February was claimed today by government bank authorities. This four-month gain was believed to have been one of the largest in American banking history. It docs not include a sharp rise in government deposits or deposits of banks in one another which may bring the gain in total bank deposits in this period to nearly $3,000,000,000. In other words, the $1,000,000,000 gain in the public's deposits reflects ‘real” accumulated savings of American individuals and corporations. Bank ‘‘Call” Expected. Official figures on the huge gain will not be available for several months when federal and state officials compile figures from the end of June calls for condition statements. It was regarded as virtually certain today that comptroller of currency J. F. T. O'Connor would issue a “call” for the condition of the country’s national banks before the end of this week. For the past twenty years the treasury in each year has called for the condition of national banks at the end of June. The March bank “call” was resumed three months ago in an effort to publicize improved banking conditions. It showed that banks were regaining hundreds of millions of lost deposits. Even better showings are expected in this week's call for condition. The gain in “real” deposits since March in the country’s 15,600 operating banks was believed today to have brought the country's savings backlog in deposits to around the $40,000,000,000 mark, or $320 for every man, woman and child in the country. Rapid Recovery Shown Including deposits of banks in one another and nearly $1,000,000,000 in deposits of the United States government, it was estimated today that bank deposits have reached $46,000,000,000. compared with less than $39,000,000,000 at the close of the 1933 banking holiday. The rapid recovery of the public’s bank deposits exclusive of deposits of banks in another, since the March, 1933, banking holiday is shown by the following official figures: Total Date Banks Total Deposits Dec 31. 1929 24.630 $55,289,000,000 June 30. 1930 23,852 54,954.000,000 Dec. 31, 1930 22,769 53.039.000.000 June 30, 1931 21,903 51,782,000,000 Dec. 31. 1931 19,666 45,821,000.000 June 30. 1932 19.046 41.963,000.000 Dec. 31. 1932 18,390 41.643.000,000 March 30. 1933 12,800 38,000.000,000 June 30, 1933 14.530 38,011.000.000 Dec. 31, 1933 15.212 38.646.000.000 March 5, 1934 15,250 39.000.000.000 June 30, 1934 15,300 40,000.000,000 Improvement in business conditions and the government's huge spending program are believed the most important factors in the increase. REORGANIZATION PLAN SUBMITTED Chicago, Eastern Illinois May Form New Company. Bp United Press WASHINGTON, June 29.—A plan for reorganization of the Chicago and the Eastern Illinois Railroad Company was submitted to the Interstate Commerce Commission by the protective committee for holders of the concern’s 5 per cent bonds, due May 1, 1951. The plan calls for formation of anew company based on the book value of such capitalized assets as may be approved by the ICC. It would result in a drastic reduction of the present capitalized structure. Holders of preferred stock in the old company would get one share of common stock for each three shares of preferred held. This would mean the issue of 73,487 shares of new common stock in place of the present 220,461 shares of preferred. Holders of common stock in the old company would receive one share for each ten shares held by them, or a total of 23.845 shares replacing the present 238.453. The total funded debt and preferred stock of the Chicago & Eastern Illinois Railway is $64,441,528. It is proposed to reduce this to $42,395,400. In lieu of past due interest, holders of general mortgage bonds would receive ten shares of common stock in the new company for every SIOO of arrears. Produce Markets DeUvered in Indianapolis prices: Heavy hens 10c; Leghorn hens, 7%c; 1934 Broilers I'% lbs. and over. 16c; Leghorn Broilers 1% IBs. and over. 13c. bareback broilers. 11c: old roosters. 4c; ducks and geese. 3c; voung guineas. 1% to 3 lbs., 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. 27®28c.; No. 2. 25® 26c. Butterfat. 22c; Quoted bv Wadlev Company. (Bv United Pressi NEW YORK. June 29 PotatoesStrong; southern sl.lo® 2.75 barrel; Maine. $1.1002.25 barrel. Sweet potatoes—steady; Jersey basket. 60c® $2 25; southern basket. 'sl.2s® 1.50. Flour Firm—Springs: patents, $707.25 barrel. Pork—Firm: mess $19.12% barrel. Dressed poultry—Quiet: turkeys. 12%®27c; chickens, 9®27c; broilers. 19®27c; capons. 25®35c: fowls, 10®18c; ducks, 13®14c; Long Island ducks, 130 15c. Live poultry—lrregular: geese, 7cf turkeys. 110 19c: roosters. 9c: ducks, 8®10c; iowls, 13® 17c; broilers, 160 24c. Cheese—Dull: state whole milk, fancy to specials, 18® 19c. Butter—Receipts, 15.256 packages; market, firmer; creamerv, higher than extras. 25®25%c; extra (92 scorei, 24%c; first (90-91% score'. 24®24%c; first (88-89 score'. 23®23%c; seconds, 22%®22%c: centralized >9O score' 24®. 24%c; centralized (88-89 score). 23®23%c; centralzed (80-87 scoret, 22%®22%c. Egg —Receipts. 14,780 cases; market, steady: special packs, including unusual heennery selections. 17%®21%c; standards. 17%c: firsts, 15%c; seconds. 15c: mediums. 14®, 14%r; dirties, 14%® 14%c: checks. 13® 13%c; storage packs. 16%c. CLEVELAND. June 29 —Butter—Market, steady: extras. 28c: standard. 28c. Eggs —Market, steads': extra white. 15c; current receipts, 14c. Poultry—Market, firm; colored fowls. 6 lbs. and over. 16c; Leghorn fowl, mediums. 16c: old roosters. Sc: ducks white, 5 lbs. and over. 14® 15c. Potatoes—North Carolinas. $2.50 a barrel.

■ssm KAHN TAILORING CO MEOIDIAN AT WASHINGTON

Cash Grain

INDIANAPOLIS —June 28— 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 —Strong: No. 1 red. 81%®82%c No 2 red. 80%®81%c: No. 2 hard. 80%u 81%c. Corn—Strong: No. 2 white. 60®61e: No. 3 white. 59®60c: No 2 yellow. 55%®56%c: No. 3 yellow. 54%®55%c: No. 2 mixed. 54%®55%c: No. 3 mixed. 53%®54%c. Oats—No. 2 white. 41fi42c; No. 3 white. 40041 c. Hav—Firm. (F o. b. country points taking 23%c or less rates to Cincinnati or Louisville). No. 1 timothy. $l3O 13.50 —lnspections Wheat—No. 1 red. 3 cars: No. 3 red 2 cars: total. 5 cars. Corn—No. 2 white. 1 car; No. 3 white. 5 cars: No. 4 white. 1 car: No. 6 white. 1 car: No. 2 yellow. 8 cars; No. 3 vellow. 5 cars; No. 4 yellow. 1 car; No. 5 yellow, 1 car; total, 23 cars. Oats—No. 2 white. 3 cars; total. 3 cars. Local Wagon Wheat City grain elevators are paying 78 cents for No. 2 soft red wheat. Other grades on their merits. (Bv United Press) CHICAGO. June 28.—Cash grain: Wheat — No. 2. red. 91%@92; No. 4. red. 90%c: No. 1. hard. 93%@c: No. 2. hard. 93%c. Corn—No. 3. mixed, 61 %c; No. 2. yellow. 62®62%c; No. 2, yellow lake. 60%®60%c: No. 3. yellow. 61%c; No. 2. white lake. 65%c. Oats —No. 2. white, 45%c; No. 3. white, 53%c: sample grade white, 40%® 41 %c. Rye—No sale. Barley—Quotable. 56%98c Timothv. $9.2509.50. Clover seed. 510.24014. Cash provisions—Lard. $6.60; loose. 56.02; leaf, $6: bellies. $9.50. ST. LOUIS, June 28.—Cash grain Wheat—ln good demand, 2® 3c higher on red and •% ®lc higher on hard. No. 1. red, 91®91%c; No. 2. red 90%®92c. early and closed at 91%c; No. 3, red. 90®91c; No. 4. red. 8<5%®89c; No. 2. red garlicky. 84%@90%c; No. 3. red garlicky. 84®86c: No. 4. red garlicky. 84®85c: No. 2. red smutty. 91c; No. 3, red smutty, 88c: No. 2. hard. 93@c. early and 94%c nominal at close; No. 1. mixed. 94c. Corn—ln good demand, 2®3c higher. No. 2. yellow. 63% ®64%c; No. 3. yellow. 62%®63%c; No. 4. yellow. 63%c: No. 3. white, 65%c. Oats — No offering, nominal. 2%c higher; No. 2. white, 48c nominal. TOLEDO. 0.. June 28.—Grain close (Grain in elevators, transit billingi; Wheat—No. 2. red 92%®93%c. Corn—No. 2. yellow. 66 0 67. Oats —No. 2. white. 48'2 ®49%c. Rye—No. 2. 70%®71%c. (Track prices. 28%c ratel. Wheat—No. 1. red. 89®89%c; No. 2. red 88®88%c. Corn No. 2. yellow, 62®62%c; No. 3. yellow. 61 ®6l lie; No. 4. yellow. 60®60%c. Oats— No. 2, white. 45®46%e; No. 3. white, 44% @46c. (Toledo seed close)—Clover —Cash $.25; Alsike —Cash. 8.50. Chicago Futures Range —June 29 Prev. Wheat— High. Low. 10:00. close. July 92 .91% .91% .92 Sept 92 7 b .91% .92 .92% Dec 94% .93% .93% .93% Corn— July 60% .59% .60 .61 Sept 62% .61% .61% .62% Dec 63% .62% .62% .64% Oats— July 44% .43% .43% .44% Sept 44% .43% .44 .44% Dec 45% .44% .45 .451* Rye— July 65% .65% .65% .66% Sept 68V* .67V* .67% .68% Dec 70 .69% .69% 70% Barley— July .55 Sept 53% .53% .53% .53% CHICAGO PRIMARY RECEIPTS —June 28Bushels Today Last Week Wheat 1.325,000 1.163.000 Corn 281.000 392.000 Oats 45.000 94,000 On Commission Row —June 29 —Fruits— Apples—Fancy Delicious. $2.65; Transparents. [email protected]. Blackberries—24-qt. crate. $2.25. Cherries—Home grown. 16-qt. crates. $1.60. Oranges—California. Sunkist. $5.50® 5.75; Valentias $5.5005.75. Lemons—Sunkist, $6.50. Grapefruit—Florida seedless. $4.25. Strawberries—Home grown. 24-at. crate. $2.50®3. Raspberries--Southern Indiana black. 24pt. crate. $1.7502; red, $304. Cantaloupes—California (umbos, 455. $4; standards. $3.75; Honevdews. $2.75. Pears—Calavos. $3.50 per box. Watermelons —Florida Watsons. 30-lb. average. 75c. Bananas—Per pound. sc. —Vegetables— Sweet Corn—Alabama. 5-dozen crate. $1.85. Cabbage—Home grown, bushel. 65c. Celery—Michigan, fiat boxes. [email protected]; medium, doz., 85c. Onions—Texas yellow. 50-lb. bag. $1.90. Potatoes—Northern round white. 100-lb. bag. $1.60: North Green Mountain. $1.75; Colorado McClures. $1.65: Idaho Russets. 100-Ib. bag. $2: new Texas Triumphs. $1.70. Sweet Potatoes —Tennessee Nancy Hanks, hamper. $2.40. Beans—Round, stringless. $1.50. Beets—New. 30c a dozen. Carrots—California. 6-dozen crate. $3.25: home grown, doz.. 35c. Cauliflower—Home grown, bushel. $1.75. Lettuce—Outdoor. 15-I'd. basket. $4; iceberg best, $4 a crate. Peas—lndiana. $2.50. Radishes—Home grown buttons, large bunch. 35c. Rhubarb—Home grown, dozen. 30c. Spinach—Home grown, bushel. 35c. Tomatoes Hothouse. 10-lb. basket. $1: original Texas. 30-lb. lug. $1.50. CHICAGO FRUIT MARKET (By United Press) CHICAGO. June 29. —Apples—Michigan spies, $1.75® 2: Illinois transparent?. s2® 2.75. Carrots California. $2.25® 2.35 crates. Cucumbers—Hothouse. 90c®51.75 (2 doz ). Tomatoes—Texas lug hox, $1 75 ; ®2. Sweet Potatoes—Tennessee. $1.85 I bushel hampers. Mushrooms—lllinois, 15 ®soc. lb. cartons. Asparagus—lllinois. 50c crate. Strawberries—Michigan. 85c®51.40 (16 quarts); Wisconsin. s2® 2.75. Peaches —Georgia. 75c®51.15 (% bushel). Red Raspberries—lndiana. $2®2.75 (24 pintsi. Lettuce—California, s3® 3.75 crate. Beans —Southern green, 50c®51.25 bushel. Onion Market (50-lb. sacksi —Texas whites. $1.50 <51.60; California yellows, $1.15® 1.25.

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

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.JUNE 29, 1981

FUTURES SHOW LITTLE CHANGE ON MIXED NEWS Considerable Profit-Taking Appears in Corn Pit After Opening. BY HERMAN W. NICHOLS United Press Staff Correspondent CHICAGO. June 29—Influencing factors were mixed today and grain prices were unsettled at the start of the Chicago Board of Trad.e. Wheat held % cent lower to a cent higher, corn was off % to a cent higher, oats were unchanged to % cent lower, and rye remained unchanged to \ cent lower. Wheat her throughout the wheat belt remained arid and extremely hot. Corn appeared in an overbought position and operators began to even up their lfnes. Considerable profit-taking appeared in corn at the start. U. S. STEEL PLANNING NEW WIRE, ROD MILL’ Four Sites in Chicago Area Being Considered so- Project. By I niif s Special JOLIET. 111.. June 19.—United States steel Corporation at their offices here this week announced plans for the construction of anew wire and rod mill to be erected soon somewhere in the Chicago area. The plans are a part of a quietly formulated program of expansion, which included decentralization. with smaller plants in scattered towns, instead of large mills grouped in one city. Sites in Joliet, Waukegan, South Chicago and Gary are being considered for the erection. FIRM REPORTS PROFIT Beatrice Creamery Net Earnings in Quarter Total §148,077. By 'l imes Special CHICAGO. June 29.—Beatrice Creamery Company reports net profits in the three months ended May 31 were $14,077, equivalent to approximately $1.40 a share on the preferred stock with a deficit of 10 cents a share on the common. The company did not issue quarterly reports last year, but C. H. Haskell, president, said the returns were slightly better than for the same period in 1933. Sales in the quarter were $12,389,486, an increase of 20.91 per cent in dollar value over the same period last year.

fWE BUY AND SELL* I P U. S. Government Bonds || U. S. Territorial and Insular Bonds 4 Indiana Municipal and Gravel Road Bonds || Land Bank Bonds 0 Home Owners’ Loan Corporation Bonds 0 Bonds and Stocks of Indiana Corporation* |f General Market Municipal and Corporation Bonds i y Indianapolis | Bond and Share Corporation 129 East Market Street Telephone Riley 4551 I t

Investments and Investment Service' Wm. E. Shumaker , & Company, Inc. 140 H Circle Tower LI-83544

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