Indianapolis Times, Volume 46, Number 44, Indianapolis, Marion County, 2 July 1934 — Page 11

JULY 2, 1934

Wall Street Amsterdam People Have Conservative View on Monetary Policies. R.VLI'II IIL.NULUsIiU 1

Tim'* Financial Writer OVER in Amsterdam the people, generally speaking, appear to have a more conservative view on monetary policies than we do in this country. This is not surprising in view of the fact that Holland is more or less a nation of investors and its people are quite internationally minded. At any rate, the

stockhold e r s of the Royal Dutch Company took its executives to task for statements contained in the com pany s annual report about general monetary and silver matters. Among other things the report said: "It does not* realty require much learn- i

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Ilendershot

mg_in fact only wisdom —to real- j lze that, just as it would be unwise ' , ; the ee t depreciate gold artifl(. c it mu t be equally indefen ibl* for the west to have depreciated silver—the currency basis far i. u 1 millions of purt. While in Shanghai some people are maintaining that China' interests demand a cheap silver dollar on the other hand, it is bring asserted that for British India a dear, high-rated rupee is needed, based first on gold and now on sterling.” a a a N'O little propaganda is put out by officials of large corporations in this country via annual reports and other printed material sent to stockholders. So far, however, this sort of thing never has chaUeng< (i bp stockholders, de.pite the fact that the cost of printing and mailing actually comes out of their pockets. Not infrequently, also, that the ideas presented are contrary to the views of a vast number of the stockholders. The Amsterdam stockholders of the Royal Dutch Company, therefore, probably were on safe ground in criticising the assertions of their officials on the basis that they were not pertinent or fit subject matter for an annual report to contain. Births Thomas and Florence Kaser, 2966 School F . .ard and P" e Phillips. Methodist hospital. P i and Gertrude Gould. Methodist hosr.tal. V. i't ar.d Florence Reed. Methodist ho : ' 1 W ,m A and Josephine M Werner. St. Fr r— ho pital. Wt am T and Thelma Davis. St. Fr inert hospital. A> -'nder I. and Louise Weimer. St Fr iis hospital. Fr- in .ind Catherine Hoeing St. Francis hospital. Edn ,rd and Marie Downs. St Francis hospital. Bey* Waiter and Margaret Moenmne. Methodist hospital. Maurice and Mildred Johnson, Methodist hospital M non and Lois Fox. Methodist hospital. P iph and Lucile Croslev. Me'hodist ho pitai. Gcorpe and Jessie Bvram. Methodist J.-mme and Willie Tillis. 2116 Boulevard p'..i- e. J im R and and Eva Clavton. St. Francis hospital. C icier A. and Svdella Dill. S’ Francis hospital. . „ Harold E and Josephine Miller. St. Francis hospital Deaths Ernest R WaUefc 55. Methodist hospital. carcinoma. . _ Pearl Mabel Carbon. 48. Central Indiana hospital, endocarditis. Rebecca Filen Allen. 85. 1336 North La Sane arteriosclerosis. Sco’t Barton. 60. Methodist hospital, appendicitis. . , Fannie Richardson. 40. citv hospital carcinoma. Gladvs Atchiey. 11. Rilev hospital, lobar pneumonia. Bertha Robinson. 72. 142 East Ohio. chronic myocarditis Dor.aid Joseph Watson. I. citv hospital, bronchopneumonia. Ari a Young. 72. 917 Bell, mitral inJanet Ar.n McCartney. 1. Rilev hospital, lot- r pneun- mm William Wallace. 72. city hospital. Chronic heart disease Cl tra Grider. 47. 423 Douglas. pulmonarv oedema. Geo re e Mills. 67. ci't hospital, arteriosclerosis. Mamie Frey. 51. 1903 Boulevard place. mitral insufficiency. J. iome Jc e M mchester. 77, citv hospital. arteriosclerosis lona R Smith 57. Central Indiana hospitil chronic encephalitis. Carrie Montort. 59. city hospital. sep'U-aemia. Warren P Wrifrht. 80 of 5104 North Kev tone, cerebral hemorrhage 0.-car Jam- M- . t of 2537 Southeastern cerebral hemorrhage Mary Francs Irish. 86. of 737 Woodlawn. bowel obstruction. Stanley Arnold Saibeck. 1. ri'y hospital, genera! peritonitis R i K ert Pace. 88. of 1748 Calvin, arteriosclerosis. Anna Taylor. 72. of 1905 Boulevard place chronic mvocardltis. I ] R : 2152 North Camtoi. pulmonary tuberculosis rhar>' Sind'.mger. 73. Me’hodist hospital aeute nephritis. William \dams Hever. 74 St Vincent's hospital, carcinoma. M,Cov C Tribble. 51. of 2157 Boulevard place carcinoma. Barbara Jean Hammond. 2. Rilev hospital diphtheria Joseph In:-. 66. of 1832 North Harding ancir.a pectoris. F . r .2 of 204’.: North Rural influenzal meningitis Frank N. c of 520 Fast Vermont. chronic Ir.teis’itial nephritis. Be*ty ! F • ‘ 3 months, citv hospital. broncho-pneumonia Marriage Licenses Walter Anders-1. 31 of 1216 East Washdo* cleaner, and Mildred Grav. 21. R R 2. Box 547. housekeeper. Frank Or.ar, 22 of 1148 Dawson street b. -kkeeper. ar.d Eller. Wright, 27. of 4609 E.-. -t Washington street, clerk Oscar Fordlev. 29. of 255 North Tacoma Street dairyman, and Madeli.te Costtn. 19. of 2033 Dexter street, housekeeper. Eowird Ho,- r 71. of 416 Spring stree* laborer ar.d F McQuav 52 of 416 Spring ! street. searr.s*res Wallace tear -1 23 of f’o Udell street pre-s feeder nd Marv Dick. 20 of 874 Udell stree*. tire coir.pir.v employe Paul 5 - : 3524 East Washington Freer S. rg -’atiort and Cornelia William- 37. of 2338 North Delaware street, bookkeeper Frank M-if.-r 28 of 1850 Applegate stree- truck or.-.er ar.d Viola Dufek. 22. of 1229 Naomi stree*. shipping clerk Hubert Ache : shl 24. of 338 North Water-? street. s-;re owner. and Margie Pilkir.gton. 25. Woodruff Place. beauty operator. Harold M ire 24. of 2614 North New Jersey street salesman, and Genevieve Carscr. 25. f 2523 East Sixteenth street, cashier. Sally M -field. 24 of 13(39 Nor’h Warman street salesman, and Mary Miller. 25, of 1224 North Wurman street, saleswoman Carl Tavicr 40 of 4014 Boulevard place. ' no Charlotte Dixon. 40. of 556 L’deil street, pantry girl. Arthur Dir.nage 23 of 2124 Singleton street truck dri-.er ar.d Leo'.a Matlock. 21 of 2025 Singleton street housekeeper. Denr.is Egfcr- 33 Lebanon. Ir.d . plumber anu AA .jr.a Johns'on. 28 of 447 E. st Tenth street, waitress Leonard Buckler 27. E-. ansville. Ind. saresinan. and Pauline Worlar.d. 25. of 48 Nortii Walcott street, housekeeper George Bailey 20 of 2242 Wheeler street, office twjr. and Virginia Wilson, 21. of 1231 Sharon aver, .e saleswoman. Charles Bom 'her. 23. of 310 North Alabama street, barber, and Marv Gibbons 25 of 1226 Wade street, saleswoman. wtErheibert Lester. 32. of 5230 East WashiTor, street, salesman, and Beulah Tim*rman, 2S, Beech Grove, stenographer.

RAILROAD LIST BREAKS FROM 1 TO 3 POINTS Security Market Unsettled Under Pressure of Pension Bill. BY ELMER C. WALZER United Press Financial Editor NEW YORK. July 2—A break of 1 to more than 3 points in railroad shares as the railroad pensions bill became law today unsettled the entire stock market where dealings continued very light. Union Pacific declined to 119% off 3 Atchison 57 ~ off 1 7 ; Baltimore A: Ohio 224, off 14; Illinois Central preferred 35. off 4%; New York Central 27, off 1.; Norfolk & Western 1814. off 14; Northern Pacific 224’, off 14: Pennsylvania 294, off 14; Sou'hem Pacific 224, off 14, and Southern Railway 23, off 1. Silver issues declined fractions to a point as silver futures eased off. Steel shares slowly receded on outlook for an almost complete shutdown in the industry later this week for 'he semi-annual inventory period. The latter is not bearish, but the Street is uncertain on the immediate future of the industry. Looses of a point or more were noted in American Can, Case, Du Pont, Dome Mines, Howe Sound. Monsanto Chemical, United States Smelting and Western Union. Money and Exchange INDIANAPOLIS BANK CLEARINGS —July 2 Clearings $2 683 000 00 debits 6.215.000 00 FOREIGN EXCHANGE <Bv Abbott. Hoppin & Cos.) —June 30— _ , Close. Stirling. England $5 04\ Franc. France 06534 Lira. Italy 08564 B'-igias Belgium 2334 Mark. Germany 3365 Guilder. Holland 6781 Peseta. Spain 1367 Krone. Norway 25.34 Krone. Denmark 2252 Yen. Japan .2988 Treasury Statement 'Bv United Press) WASHINGTON. June .30.—Government expenses and receipts of the current fiscal year to June 28. compared with ’he corresponding period of the previous fiscal year: This Year. Last Year. Expe ,ses 87.034.225.291.79 $5,086 902.945.53 Receipts 53.093.C59 664 71 S2 068.294.508.58 Defier S3 940.565.627 08 $3,018 608 436.95 Cash Bal. $2,581,286,211.04 Investment Trust Shares ißv Abbott. Hoppin Ac Cos.) —June 30— American Bank Stocks Corp . 109 114 American A: General Sec A ... 450 600 American Ac Inv Tr Sh 175 Basic Industry- Shares 3 26 British Tine Inv Tr Sh 44 .50 Collateral Trustee Shares A 4 50 4 60 Corporate Trust Shares (old) 1 94 1 98 Corporate Trust Shares inew) 222 2.25 Cumulative Trust, Shares 3.97 Diversified Tr Shares A 6.25 Diversified Tr Shares B 7 62 7.87 D.versified Ti Shares C 295 300 Dimilled Tr Shares D 4 55 4.65 Ii • Insurance stock corn•.. .80 .90 First Common Stock Corp ... .65 .68 Fixed Trust Oil Shares A .... 7.95 F.xod Truss Oil Shares B .... 6.95 Fundamental Investors Inc ... 1.93 213 Incorporators Inv-stments ... 17.15 17 35 Land Bank Bond Shares 1 20 1.33 t w Triced Trust Shares 5.70 580 Mass Inv Trust Shares 18 66 20 28 Nation Wide Securities .. 3 25 3.29 North Am Trust Shares *53). 1.89 Nor \m Tr Shares i55-56> .2 30 234 Nortti Am Trust Shares 1 58) -. 2.28 2.32 Selected American Shares . .. 2.54 Selected Amer Shares Inc .. 1.16 1.25 Selected Cumulative Shares . . 6.50 Selected Income Shares . . 336 387 St. American Trust Shares A. 285 289 Trust Shares of America 2 67 2 74 Trustee Std Oil A 5.52 5 57 Trustee Std 0.1 B 4.95 5.15 U S Elec Lt A- Pwr A 12.25 12.50 Universal Trust Shares 294 2.99 In the Cotton Markets —June 30— CHICAGO High. Low. Close January 12 73 12.68 12.68 March 12 84 12.78 12 78 May 12 94 12 88 12 88 Julv 12 34 12 30 12 31 October 12 55 12 48 12.50 December 12 68 12.61 12.62 NEW YORK January 12 67 12 60 12 62 March 12 75 12.71 12 73 May 12 85 12.80 12.82 Julv 12.75 12 17 12 22 October 12 40 12 40 12 42 December 12.63 12.54 12.57 NEW ORLEANS January 12.63 12.61 12 61 March . 12 69 May 12 82 12 78 12 78 July 12.21 12 18 12.21 October 12 44 12 36 12 40 December 12 58 12.52 12.55 Retail Coal Prices The following prices represent Quotations from leadinc Indianapolis coal dealers A cash discount of 25 cents per ton is allowed. Domestic Retail Prices Anthracite sl3 50 Brazil lump 6 00 Brazil egg 5.50 Brazil mine run 5.25 Coke, nut size 825 Coke, egg size 8.25 Indiana forked lump 6.00 Indiana egg 5.75 Kentucky lump < 00 Pocahontas lump 8 op Pocahontas ecg 800 Pocahontas forked lump 9.00 Pocahontas mine run <25 New River smokeless 8 00 West Virginia lump 675 West Virginia egg 6.50 Island Creek .. •••*••• ,00 Fx’ra charge of 50c a ton for wheeling coal, and $1 a ton for coal carried to bin. STATE POOLS PACKED IN HEAT WAVE RUSH Attendance Records Broken as Bathers Jam Parks. June's intense heat has caused new attendance records at the state swimming pools at Brown county and McCormick's Creek state parks, with hundreds of bathers seeking relief from the sun's searing rays. Beaches at other state parks also have been doing a rushing business, although the number of bathers at the Dunes state park on Lake Michigan has been reduced by the continuous wind blowing over the lake. DE MOLAY TO HOLD FETE Ninth Annual Breakfast Hop to Be Staged Wednesday. Tlie ninth annual July 4 breakfast hop so the Indianapolis chapter of the Order of De Malay will be held from 5 to 8:30 a- m. Wednesday at the Riviera Club. Homer Cornell, music director, is chairman..and is assisted by Charles Brammel and Paul James. Swimming in the pool will follow the breakfast and dance. Art King's music will provide the music. Plumbing Permits Cook Bros.. Ohio and Pennsylvania: ten fix’ ures. James Florence. 3215 East Michigan; one fixture. H Silverman, 1542 South New Jersey: four fixtures. Huber and Flaskamp 5033 Washington boulevard: three fixtures. C. A Carlisle Cos. 917 North Trement; two fixtures. Wm. Steck. Thirteenth and Shannon: five fixtures. Wm Steck. 410 Blueridge: seven fixtures. R Schemer, Forty-sixth and Maniove; one fixture. Frank Isenthal. 378 Massachusetts: six figures. Hoy McQueen, 3537 Dewey; one fixture.

New York Stocks ■■ <hi Aobott. Hoppin * Co.‘ ' AVERAGE STOCK PRICES FOR SATURDAY Net High. Low. Close, change. Thirty industrials 9594 95.38 95.72 —.03 Twenty rails 44.03 43.90 43.98 —.05 Twenty utilities 23.84 23.69 23.76 —.Ol Forty bonds •••• 94.74 —.09 Ten first rails •••• 101.60 —.Ol Ten second rails .... •••• 81.46 —.16 Ten utilities •••• 98.66 same Ten industrials •••• 97.25 —.20 -Off. -Up.

—July 2 Prev Oils— High. Low 10:30. close. Amerada ... 50% Consol Oil ••• 10% 10 1 a Cont of Del 19‘a 19 Houston r.ewi 3% Mid Cont Pet ... 12's Ohio Oil 11' Pe* Corp ... 10 1 Phillips Pet 17'. Pure Oil 10% Sbd Oil 32 shell un 8 Skelley Oil ?% Soc Vac 15*4 3 O of Cal ••• 34% 34% SOof N J 43% 43% Texas Corp 23'4 Tidewater Assn. .. ... 12% 12is Steels— Am Roll Mills .... ... . 18’ 4 Be’h S eel 32% 33 Byers AM ... ... 22' Cruc Steel ... 22 ! 2 Inland Steel ..... ... ... 37! a Ludlum Steel ..... ... ... 14 Mid Steel UVe Natl Steel 40 Otis Steel •• ... 4Va 4 5 Rep Iron & Steel .. ... ... 15’a Rep Ir & St pfd .. ... ... 45'4 U S Pipe U Fdy 23'4 U S Steel 38 J /i 38 5 g U S Steel pfd 83 \* Warren Bros ... 9 Youngs nSArT Motors— Auburn 22’a 23 Chrysler ... 39 1 4 39U Gen Motors . .. ... 30'e 307* Oen Motors pfd 101 7 8 Graham Mot Hudson ... . • ■ 9'i Hupp 3' 2 Mark Truck . 25*2 Nash ... 17 >'* 17’ Packard ... 3T4 3 3 4 Reo I-- 3‘s Studebaker 4 Yellow Truck ... 4 Motor Access— Bendix 15H 14*4 Bohn Alum 54*4 Borg Warner 23 Briggs 17 17 Budd Whoel 3 Eaton Mfg 16" Eire Auto Lite 21 ** Murray Body 6 Stew- Warner 6 5 * Timken Roll 30 Timken Det Ax 6’,2 Mining— Alaska Jun 21 ’4 21 Va Am Met-ls 24 23*4 23 1 2 24 Am Smelt ... Anaconda 15 14 3 4 Cal & Hecla 4’4 . Cerro de Pasco 41 7 a 41 7 a Dome Mines 44’,2 44 7 * Gt Nor Ore ... It 1 ! Howe Sound ... Ins Copper 4Ta Int Nickel 26 26 Int Silver 33 Kennecott Cop 21% 21 7 8 Mclntyre Mine 48’ 2 Park Utah ... 4 3 8 Fhelps Dodge 17’ 2 St Joe Lead 20’i 20)2 U S Smelters 127 5 a 128 Vanadium ... 20% Amusements— Loews Inc 28 ’'2 Radio Corp 6 7/ a 6 7 s RKO 2>/a 2!'a Warner Bros 5% 5% Tobaccos— Am Tob B ... 75 75 , . , 4 Gen Cigars 43 Ligg & Myers B 95*4 Lorillard 18 !4 Reynolds Tob B 45 V* Rails— Atchison 59’2 B & O 23% 23 3 4 Can Pac 13 7 i 13 3 * 13 3 ' 13 7 e Ch & Ohio ... 47 3 * 47V* 47V* 47! 2 Chi & Gt W 3 Chi & Gt W pfd 7 C M & St P 4% C M & St P pfd 7% Chi N W Bva8 v a B’* Chi N W pfd 17% Del Lac & W 22 3 /* 23% Erie . 18 3 * Grt North pfd 21 21 3 a 111 Cent 25 Lou & Nash V l /* 51 '2 M K & T 9% M K & T pfd 22% N Y Cent 28 28% N Y C & St L pf 30% N Y New Haven 15 15 Nor Pac • 23% Penn R R 30Va 30% Sou Pac 24 Sou RR ... 24 Union Pac 123 West Maryland ll 3 ,i Equipments— Allis Chalmers 15'/2 lo’i Am Brake Shoe 24 3 * Am Car & Fdy 20% Am Car & F pfd 41% Am Loco . ... .. ... ... 24 3 s Am Steel Fdy 15 3 * Bald Loco 10% Burroughs ... ... 14% Case J I 49% Cater Tract 27% Deere & Cos 20% Gen Am Tk Car 36% Gen Elec 20 197a Gen R R Silk 32 Int Harvester 33 Natl Cash Reg 16% Pullman Inc 49% Westingh Elec . .. ... 36% 36% Worrhingt n Pmp 20 Am Power 4; Lit 7 7 AT&T 113 113 Am Wat Wks . • . 19% 20 Brook Un Gas . 67% 67% 67% ... Col Gas & Elec 13% . Col G & E pfd 77 Com & Sou 2% 2 Consol Gas ... 33V* 33% Elec P & Lit ... —5% E P & L pfd * 12% Int Hvdro Elec 6% I.ou & E "A" 16 Nat Pwr & Lit. -• . .- 10% North Amcr 17 167* 17 17% Pac G & E 18% 18% Pub Serv N. J 36 Std* Gas - 10% Stone & Web 7% 1% United Corp 5% Un Gas Imp 16% Ut Pwr & L (A) 3 Western Union 45% Rubbers— Goodrich • • 12% Goodyear 26% 2714 U S Rubber— 17% 18 U S Rubber pfd 44 Miscellaneous— Amer Can 96’4 Anchor Cap 21% Brklyn Man Tr 37% EX-SENATOR LONG OF KANSAS DIES SUDDENLY Body Sent From Capital t; Wichita for Burial. By United Pretm WASHINGTON, July 2. Tlie body of former United States Senator Cliester I. Long of Kansas, who died suddenly here yesterday was to be sent today to Wichita, Kan., for burial. Mr. Long. 74. a leading hard money advocate in the Bryan free silver fight, was a Republican. He served as representative of the Seventh Kansas district in the fifty-fourth, fifty-fifth and fiftysixth congresses. He was in the senate from 1903 to 1909. He was president of the American Bar Association in 1925-26. WABASH FARMER IS CONVICTED IN SLAYING Life Term Given Killer in Shotgun Duel Murder. By United Brest HUNTINGTON. Ind., July 2. Zach Sweazy, 45. Wabash, was sentenced to life imprisonment today on charges of murdering Charles E. Capes. 64. Laketon farmer. Judge Sumner Kenner of Huntington circuit court pronounced the sentence, choosing life instead of electrocution as the punishment. Sweazy was fourft guilty by a jury yesterday. He was accused of killing Capes during a shotgun duel over the latter’s daughter. Mabel. Hoosier Is Electrocuted By United Brett WINCHESTER. Ind., July 2. Merrill Fraze, 31. an employe of the Indiana-Ohio Public Service Company. was electrocuted Sunday when he touched a high tension wire while repairing a transformer. William Henderson, an associate of the late Luther Burbank, succeeded in developing a type of gladiolus which has perfume.

THE INDIANAPOLIS TIMES

Conti Can 79% Curtis Pub pfd 78 Eastman Kodak 97% Gillette 10% Glidden 24% Gwens Bottle 76% Raybestos Mfg ... i7 Foods— Armour 'At ... 5% 5% Beatrice Cream’y 16 Borden Prod 26% 26% C'al Packing 31 7 * Cont Bak 'A) 8% Corn Prod 65 Gen Foods 31% 31% Gold Dust i9 3 i G W Sugar 33% 33% Loose wiles. 40!* Natl Biscuit 35% Natl D Prod 17% 17% S Porto Rico Sug ... . 35% Std Brands 20% 20 20 20% United Fruit 72 Retail Stores— First Natl Stores .. ... ... 63% Gimbel Eros 3% Hahn Dept Sts 5% 5% Jewel Tea 46% Kresge S S 18% 18% Kroger Groc 4 30% Marshall Fields 15 May Dept St 39 39% Mont Ward 27% 27% Penney J C 57% 57% Safeway St 50 Sears-Roebuck 41% Woolworth 49% Aviation— Aviation Corp 6 6 Curtiss Wright 314 Curtiss Wr (A) . . 9% Douglas Air 19% 19% Nor Am Av 4% 4% Speerv Corp 8% United Aircraft 18% 18 Chemicals — Air Reduction 98% 98% Allied Chem ... 131 Am Com Alcohol 33 % Com Solvents . 22% Dupont 38% Freeport Tex 32% 32% Liquid Carb ... .. ... 27% . Math Alkali 32% Natl Dis 1 new) 23% Scheneley Dist 27 Tex Gulf Sulph 34 34 Union Carbide. .. ... 42% 42 % U S Indus Alco 40% Virg Ch 6C4 pfd 18% Drugs— Cotv Inc 6 574 Lehn & Fink 19% .. Un Drug 15% Zonite Prod 5% Financial— Adams Exp ... 8% Allegheny Corp 2% Am Int Corp 7% Chesa Corp 45% Lehman Corp 68% Transamerica 6 5 /s 6% Tr Conti Corp 4% 4% Building— Am Radiator 14 14% Int Cement ... 26% Johns Manville ... 52 Libby Owens Gls 31% 31% Otis Elev 15% Household— Col Pal Peet 15% Congoleum 27 % Kelvinator 16% Proc Gamble 36% 36% Simmons Bed 15% Textiles— Belding Hem 12% Indus Rayon 24 % New York Curb (By Abbott, Hoppin & Cos.) —June 3o Close: Close. Am Cyanide B 18%!Hiram Walker.. 36 Am Gas &El - 27 Hud Bay Min.. 14 Am Superpower 2%,Humble Oil 41% Ass Gas & E 1... %ilmperial Oil Ltd 15 Atlas Corp .. 10% Int Petrol .. . 27% Can Indus Ale A 9%Natl Bellas Hess 3!a Can Marc 2% Newmont Min .. 52% Cities Serv. ... 2% Nia Hud Pwr... 5% Consol Gas of B 65%Pan Am Airways 37 Cord Corp ... 3% Penn Road ... 2% Creole Petrol.. 12'iSt Regis Paper. 3% Deere & Cos ... 20% Sherwin Wms. 69% Distillers Corp 15% Std of Ind 27% Dow Chem . 101% Std of Ky 16V3 El Bond & Sh. 15 Technicolor Ind 13 Ford of Europe 7%iTeck Hughes G 6% Gen Aviation .. 4% Un Gas 2% Glen Alden Coal 20% i Wright H Min 9%

Chicago Stocks i ßv Abbott Hoppin & Cos.)

—July 2 High. Low. 11:30. Asbestos Mgf ... 2% Bendix Aviation 14% Borg-Warner 22% Butler Bros ... 8% Berghoff 6% 5% 5% Cities Service ... 2 Commonwealth Edi 53 Cord Corp .. 3% 3'% 3% Great Lakes Dredge ... 17% Gen Household Util ... 12% 11% 11% Kingsburv 4!4 Libby-McNeil 5 Lynch Corp 35 Middle West Utilities % Mid West Util 6% pfd A % Midland United % Pines Winterfront .... 1 % 1 Quaker Oats .. 1% Swift & Cos 17% 17% 17% Swift Internacional .. 31 30’% 30% Thompson JR 6

Bond Prices By Fenner & Beane)

—July 2 High. Low. 10:30 Allee Corn 5s ’SO 37 36 36% Am&For Pwr 5s 2030 50% AT&T db 5s ’65 110 Atchison gen 4s ’95 . 100 102% 102!4 B&O cv 4%s 60 .. 65% 65 65 Beth Steel 5s A ’36.. 100 Can Pac 4s ’57 .... 83 ChMStP&P ad 5s A 2000 13% 12% 12% ChMStP&P rs 5s A ’75 37 36 36 Denmark 5%s '55 90% Erie RR rs 5s 67 73% 73 73 Goodyear 5s ’57 . 100% Gt Nor 7s A ’36 95% 95% 95% interboro RT 5s '66 71 Int T&T db 5s ’55 ... 63 Nat Dairy db 5%s '4B 98% 98 98% NY Cent 4%s O 2013 74% Penn R R 4%s D ’Bl 97% Poland 7s '47 112% 112'* 112% Texas Corp 5s ’44 ...103*% 103% 103% Tob Pr NJ 6%s 2022 105% Un Pac Ist 4s ’47 .. ... 106 US Rubber 5s A '407.. 85% 85% R s % Western Un 5s ’sl 85% Ygstwn S&T 5s B ’7O 83 % l>. S. GOVERNMENT BONDS <By United Press) NEW YORK. June 30.—Closing liberties. (Decimals Represent 32nas.) —Liberty—--3%S (32-47) 104.4 First 4%s (32-471 103.13 Fourth 4%S (33-38) 103.26 Treasury 4%s (47-52) 313.7 3%s (43-47) 104.20 3%s (43) 105.4 3%S (46-46) 102.18 3s (51-55) 101.14 FEDERAL FARM LOAN BONDS (Bv Biyth & Cos.. Inc.) —June 30— 4s Nov. 1. 1957-37 100% 101 4s May 1, 1958-38 100* 2 101 4%s Julv 1. 1956-36 100% 101 4%s Jan. 1. 1957-37 100% 101% 4%s Mav 1. 1957-37 100% 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 4%s Julv 1, 1953-33 100% 101 4%s Jan. 1. 1955-35 100% 101 4%s Jan. 1, 1956-36 101% 102 5s Mav 1. 1941-31 101% 101% 5s Nov. 1. 1941-31 ioi% 101% —Home Loan—--4s July 1. 1951 100.26 100.29 —Federal Farm Mortgage Corporation—--3% March 15. 1964-44 .. 101.20 101.24 (The latter two quotations are in thirtyseconds.)

Bright Spots

Trans America Company declares regular quarterly dividend of 25 cents, the first payment since Feb. 1, when like amount was paid. National Power and Light Company and subsidiaries for twelve months ending Mar 31. showed a net of 86,861.336 after charges equal after preferred dividends to 95 rents a common share, against 87.385.392 or 81.05 a share for the previous year. Consolidated Gas of Baltimore earned 81 90 a common share in five months ending May 31. against 81.70 a share for the same period of last year. Steel Operating Rate Drops Bn United Press NEW YORK. July 2.—The steel industry was operating today at only 23 per cent of capacity, compared with 44.7 per cent a week ago. a drop of 48' 2 per cent, the American Iron and* Steel Institute reported today.

PORKERS DROP 5 TO 15 CENTS! CATTLESTEADY Lamb Market Unchanged: Veals Remain Even at $4.50 Down. Porker prices were generally 5 to 15 cents lower ih the initial session of the week at the Union Stockyards this morning. Underweights, however, continued unchanged. Heavy receipts on hand in the early trading were believed partly responsible for the initial decline. The bulk, 160 to 200 pounds, was selling at $4.60 to $4.75. Heavier grades, scaling 200 to 350 pounds, brought $4.80 to $4.85. Top held at $4.90. Extremely light slaughter pigs, weighing from 130 to 160 pounds, sold at $3.60 to $4.10, while other small grades scaling 100 to 130 pounds, brought $2.85 to $3.35. Packing sows were salable at $3.50 to $4.25. Receipts were estimated at 8,500; holdovers, 254. General trade was slow and around steady in the cattle market, with a slightly weaker undertone. Killing quality was plain, while most steers sold under $7. Few better grade heifers ranged from $4.25 tc $5.85. Receipts were 800. With only a little change evident in the veal market, practically all classes remained steady with Saturday’s average at $4.50 down. Receipts numbered 600. Lamb trading developed slow and most all grades were unchanged at the previous close. Bulk of ewe and weather lambs sold at SB, while fewbetter grades brought $8.25. Bucks sold at $7 down. Slaughter sheep held at $1.50 to $2.50, while breeding ewes were selling at $3 to $4. Receipts were 9,000. Asking on hogs at Chicago remained stationary, with early talking 10 to 15 cents lower than Saturday. Receipts were estimated at 30,000, including 10.000 directs; holdovers, 1.000. Cattle—Receipts numbered 25,000; calves, 6.000; market, steady. Sheep receipts w-ere 12,000; market, unchanged. June Bulk. Top. Receipts. 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 30. 4.70® 4.80 5.00 1,500 July 2. 4.60® 4.75 4.90 8,500 Market, Lower (140-160) Good and choice [email protected] —Light Weights—-(l6o-180) Good and choice.... 4.60 (180-200) Good and choice-... 4.70® 4.75 —Medium Weights—-(2oo-220) Good and choice.... 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 4.80® 4.85 —Packing Sows—(2so down) Good 3 ■?5 , § , i (250 lbs.) Good 3.50® 4.10 (All weights) Medium 3.25® 3.i0 —Slaughter Pigs—-(loo-130) Good and choice 2.85® 3.25 CATTLE Receipts, >0; Market, Steady Good and choice , $ 6.75® 9.00 Common and medium 4.00® b.ib (1.100-1.500) _ Good and choice 7 „ Common and Medium 5.50® 7.50 (675-750) A Good and choice 2'29 Common and medium 3.25® 5.75 'Yood and choice 5.25® 7.00 Common and medium 3.50® 5.25 —Cows— Good 3.50® 4.25 Common and medium ? Low cutter and medium I.dO® 2.50 Bulls (yearlings excluded) Good (beef steers) 9'59 Cutter, common and medium.. 1.50® 2.00 VEALERS Receipts, 600; Market, Steady Good and choice f 99 Medium A '99 Cull and common 1.50® 2.50 —Calves— Good and choice i- 5 9P Common and medium 2.50® 4,00 —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, 9,O(W)i Market, Steady. (Shorn Basis) Spring lambs, good & choice $7.75® 8.25 (90-110 lbs.) Good and choice 7.50® 8.00 (90 lbs. down) Com. and med. 5.50® 7.00 Ewes— Good and choice ?-92§ 9'99 Common and medium 1.50® 2.00 Other Livestock (By United Press) CHICAGO. July 2.—Hogs—Receipts, 30.000. including 10,000 directs, slow, 10 c lower than Friday: 210-310 lbs., $4.80® 4.90: top, $4.90; 170-200 lbs., $4.25®4.75; light lights, $3.75®4.25; pigs. $2.50®3.50; packing sows, s3.9o''i 4.25; light lights 140160 lbs., good and choice, $3.50®4.25; light weight 160-200 lbs., good and choice, $4.10 (n 4.80; medium weights 200-250 lbs., good and choice, 54.65"i4.90; heavy weights 250350 lbs., good and choice, $4.75®4.90: packing sows, 275-550 lbs., medium and choice, $3.50® 4.35; slaughter pigs 100-130 lbs., good and choice, $2.50® 3.50. Cattle —Receipts, 25.000: calves, receipts, 6,000; fat steers with weight and long yearlings. unevenly steady to 25c lower; mostly weak to 15c. down; better grade weighty steers showing late decline; practically all grades light cattle under pressure; supply of grassy offerings larger, but grain fed predominating: selling slowly at $6.90 ®9: early top weightv steers, $10.15; long yarlings, $9.25; slaughter cattle and Vealers: steers 550-900 lbs., good and choice. $6.50® 10.25: 1.300-1.500 lbs., good and choice, $7.50® 10.25: 550-1.300 lbs., common and medium. $2.75®7.50; heifers 550-750 lbs., good and choice, $4.75® 6.75; common and medium. $2.25® 5; cows, good, 53.75®5: common and medium. $2.35® 3.75; low (Fitter and cutter, $1.50® 2.35; bulls, yearlings excluded, good beef. S3® 3.75; cutter, common and medium, $2.25® 3.50; vealers. good and choice. $4®5.75: medium, $3,500/4: cull and common. $2.50® 3.50: stccker and feeder cattle: steers. 550-1.050 lbs., good and choice. $4®5.50; common and medium, $2.75® 4. Sheep—Receipts, 12,000; fat lambs around 25c lower; bulk desirable kinds. 58®8.25: yearlings scarce, steadv to weak- bulk desirable fat ewes, $1.75®2: (effective July 2, spring lambs classified as lambs): lambs 90 lbs. down, good and choice. $7.75®8.65: common and medium. s6® 7.75; ewes 90-150 lbs., good and choice, $1.50®2.25: all weights, common and medium, 51®1.75. LAFAYETTE. Julv 2 —Hogs Market, steadv. 10c lower: 200-300 lbs.. $4.65®4.75: 180-200 lbs.. $4.50® 4.60: 160-130 lbs.. 4.45; 140-160 lbs.. $3.60®3.85: 120-140 lbs.. $3.10® 3 30; 100-120 lbs $2.60® 2.85; rouehs. $4 down; top calves, $4; top lambs. S7® 7.50. FT. WAYNE. Julv 2.—Hogs—s® 25c lower: 250-300 lbs.. $4 80: 200-250 lbs., $4.70: 180-200 lbs.. $4.60: 160-180 lbs.. $4.50; 300-350 lbs.. $4.50: 150-160 lbs.. $3.75: 140150 lbs.. $3 50: 130-140 lbs.. $3.25: 120-130 lbs.. $2.90: 100-120 lbs.. $2.60; roughs. $3.50; stags. $1.75. Calves—s4.so; lambs, SB. By Times Special LOUISVILLE. June 2.—Cattle—Receipts. 650; demand fairlv dependable for better fed steers and heifers, but trading dull on plainer grade grassers and she stock; all classes generally steadv with ciose last week: common to medium steers and heifers. 53.755; plain thin fleshed grassel’s in cutters flesh down to around $2 50: several lots and loads good drvfed steers and heifers. S6®6 50: latter price for load 753 lb. heifers: buik beef cows. $2.50 ®3: good kinds and smooth heifer types to $3.50 and above: most low cutters and cutters. sl® 2 23; bulk sausage bulls. $2.75 down; odd head best heavy kinds higher: bulk desirable light Hereford stockers salable. $4 4 25: with some held higher. Calves—Receipts. 500: market steadv: bulk vealers. s2®3: depending on weight and Quality. Hogs—Receipts. 1.100; market steadv with Saturday or 5c to mostly 10c higher than Friday; bulk desirable 185-275 lb. weights. $4 80: 275 lbs. up. 34.10: 160-185 lbs . S3 80: 145-160 lbs... S3 45: 120145 lbs.. $2.05; sows. 52.55 Sheep—Receipts, 2.300: including 825: stock ewes receipts. somewhat below earlv expectations and quality generally plain: no early trading on lambs undertone above steadv or $7.50® 8 for bulk better kinds: effective today spring lambs classed as lambs; fat ewes. Sl®2; trading on stock ewes moderately active, generally steadv: bulk. $5.50 ®7.50 per head. (Notice: Louisville livestock market will be closed Wednesday, July 4),

Government in ‘Red’ at End of 1934 Fiscal Year

Expenditures Exceed Those of Any Peace Time Year in History. BY RICHARD L. GRIDLEY United Press Staff Correspondent WASHINGTON, July J. The United States government ‘‘ran in the red” to the extent of nearly $4,000,000,000 in the 1934 fiscal year which ended Saturday. Expenditures exceeded those of any peace time year in history. Treasury officials estimated Saturday that the output of federal funds in the past twelve months had exceeded $7,000,000,000. the heaviest spending program since the twelve months ending June 30. 1919. when more than $18,000,000,000 was spent in the final effort to win the World war. Against the $7,000,000,000 expenditures Secretary of the Treasury Henry Morgenthau could count only about $3,100,000,000 in government income, leaving a defict of $3,900,000,000. This was the fourth successive fiscal year the government has not earned enough to pay its way. U. S. Gets Huge Troth More favorable were figures on the government’s $2,000,000,000 stabilization fund which has paid the government a few hundred thousand dollars profit in the two months of its operation. Less easy of measurement were results of the government’s aggressive monetary policy which culminated last February in the reduction of the weight of the gold dollar to 15 5-21 grains and more recent the ambitious silver metal buying program. Included in the government’s $7,000.000,000 expenditures was $359,450,900 spent for retirement of securities. leaving net expenditures of about $6,650,000,000. On this basis the net deficit would be around $3,500.000,000. Although the government’s income was only $100,000,000 under the estimate of $3,259,938,756 set by President Roosevelt in his last budget message, net expenditures, excluding the sinking fund were about $4,000,000,000 under the estimate of $10,569,967 set by the chief executive. Public Debt at Peak Despite this year’s huge deficit which has carried the nation's public debt to a record peak of $27,008,336.065 from $22,638,672,560 on June 30, 1933. and slightly above the war time peak, even greater expenditures were contemplated today by Secretary Morgenthau for the new fiscal year. If present estimates are carried out, it is expected the government in the new fiscal year will spend $10,500,000,000 and receive in income $4,250,000,000. making a further prospective deficit of $6,250,000.000. It would send the public debt to the outside limit of $31,834,000,000 set by President Roosevelt. Produce Markets Delivered In Indianapolis prices: Heavy hens 10c; Leghorn hens, 7lie; 1934 oroilers 1 % lbs. and over. 16c: Leghorn broilers 1% lbs. and over. 13c, bareback broilers, lie: old roosters, 4c; ducks and geese. 3c: young 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 (By United Press) CHICAGO, July 2.—Eggs—Market—Easy; receipts. 14.877 cases; extra firsts. 14 * c ’ fresh graded firsts, 14%c: current receipts, 12^/13c; dirties No. 1. ll 3 4c; No. 2. 11c, checks. No. 1. U%c; No. 2. 11c Butter —Market, steadv: receipts. 14.881 tubs, extra firsts (90-91% score). 23®23%c, extras <92 score), 23%c: firsts (88-89% scorei. 21 %® 22c: seconds (86® 87% score), 20%®21c: specials, 24%®24%c; standards 24c! - Poultry—Market easy; receipts 49 truck. 1 car, 2 cars due; hens. 12%c; White Rock fryers. 18%c: colored 18c, Plymouth Rock. 22c: colored 18c: White Rock, 10c; spring geese. 11c: turkeys, 14c: old roosters. B%c; Yeghorn broilers, 13%®14%c: old ducks, small, 8c; heavy spring. 14c; springs, colored. 22c: Rock. 24c; Leghorns. 4%c. Cheese—Twins. 12%c ®l2%c; Longhorns. 13®13%c: daisies, 13 ®l3%c. Potatoes—New stock, supply moderate: demand and trading moderate; market, weak: Arkansas triumphs. $1.45. Louisiana triumphs. *l-50® 1.65; North Carolina cobblers $1.40® 1.50: slightly decayed. $1.30® 1.35; barrels. $2.40® 2 50. Missouri cobblers, ungraded and slightly decayed. $1.20: Virginia barrel cobblers, $2 60' arrivals, 169. on track, 225: shipments. 924: Saturday. 30. NEW YORK, July 2.—Potatoes—Easy; soufTiern SI 12® 2.50 bbl.; Maine, sl.lo® 225 Sweet Potatoes—Firm; Jersey basket, 60c® 2 25: Southern basket, $1.25®1.58. pi our —Dull: springs: patents. s7® 7.25 bbl. Pork—Steadv. Mess—sl9.l2% bM. Lard — Firm Middle West 5p0t—54.45®.4.05 per 100 lbs. Dressed Poultry—Steady; turkeys. 12%®27c; chickens. 18® 27c; broilers. 18® 27c: capons. 25®35c; fowls. 100/18c: ducks, 13® 14c; Long Island ducks, 13® 15c. Live Poultry—Dull; geese, 7c; turkeys ll®19c: roosters. 9c; ducks. 8®10c: fowls. 12%® 17c- broilers, 140/25c. Cheese—Easy: state whole milk fancy to specials, 18® 19c. Butter—Receipts, 7,356 packages,, market, steadv: creamery, higher than extras, 250/ 25%c- extra 192 score) 24 3 ic: first (90-91 score) 240/ 24%c; first (88-89 scorei. 23 ®23 3 *c: seconds. 22%®22%c: centralized (90 score). 24®24’jc; centralized (88 score), 23%c; centralized (84-87 score), 22%®22%c. Eggs —Receipts. 24.946 cases; market irregular; special pacTcs, including unusual hennery selections, 17%W21c: standards. 16%®17c; firsts 15%®15%c: seconds 14%®15c; medium 14%®14 3 *c; dirties. 14%c; checks. 13®13%c. On Commission Row —July 2 Apples—Fancy Delicious, $2.50; Transparents, S2O/3. Blackberries —24-qt. crate, $3. Cherries —Home grown, 16-qt. crates. Oranges—California, Sunkist, $5.50: Valentias. $5.50. Lemons —Sunkist. S7. Grapefruit—Florida seedless. $4.50. Raspberries—Southern Indiana black, 24-pt crate, $1.85: red, $3. Cantaloupes—California jumbos, 455. $4.40: standards. $3.90; Honeydews. $2.75. Pears—Calavos. $3.50 per box. Watermelons—Florida Watsons, 30-lb. averages. 75c. Bananas —Per pound, sc. —Vegetables— Sweet Corn—Alabama. 5-dozen crate. $2. Cabbage—Home grown, bushel, 75c. Celery—Michigan, flat boxes, $1.50; medium. doz.. 60c. Onions—Texgs yellow. 50-lb. bag, $2. Potatoes—Northern round white, 100-lb. bag. $1.50; North Green Mountain. $1.75; Colorado McClures. $1.50: Idaho Russets, 100-lb. bag, $2.25; new Texas Triumphs, $2. Sweet Potatoes—Tennessee Nancy Hanks, hamper. $2.40. Beans—Round, stringless, $1.75. 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-lb. basket. $4; iceberg best. $4 a crate. Peas—lndiana, $2.75. Radishes—Home grown buttons, large bunch. 35c. Rhubarb—Home grown, dozen. 30c. Spinach—Home grown, bushel, 85c. Tomatoes—Hothouse. 10-lb. basket. $1.25; original Tenn.. 30-lb. lug. $2.25. CHICAGO FRUIT MARKET )Bv United Press) CHICAGO. Julv 2.—Fruit and vegetables. Apples—Michigan Spies. $1.75® 2 Der bushel; Illinois transparents. s2® 2.85 bushel. Carrots California. s2® 2.25 crate. Cucumbers Hothouse. sl® 2 '2 dozen); Illinois, bushel, $1 25® 1.50. To-| matoes—Texas. $2®2.25 lugs; Illinois .flat crates, Sl® 125. Sweet potatoes—Tennessee. $1 85 bushel hampers. Mushrooms. Illinois. 10®35c tlb. cartons). Asparagus —lllinois. 50® 75c souare crates. Straw-; berries — $1.25® 1 50 'l6 quarts': Wisconsin. $T25® 4. Peaches—Georgia, 35c ® $1.25 11 2 bushelsi. Red Raspberries— Indiana. $2.50 (24 Dints); Illinois. $1.50® ! 3. Lettuce California. S3® 375 crate. Beans —Eastern green. 50c%5l 25; Illinois. 1 bush®!. $1 ® 1 50. Ohio Market: 50- lbs ; sacks). Texas. whites. $1,501.60. Cali- j fornia. yellows. sl.lo® 1.20 Quarterly Dividend Declared By Timet Special NEW YORK. July 2. Directors or Supervised Shares. Inc., have de- 1 dared a quarterly dividend of 1.2 cents a share, payable July 16, of record June 30. This compares with a previous quarterly dividend of 1 cent a share. >

COTTON OUTPUT DROPS Crop Estimated at 70 Per Cent > Below Normal. By Timet Special CHICAGO. July 2.—Nat C. Murray, crop expert for Clement Curtis & Cos., estimated the United States cotton crop on June 25 at 70 per cent of normal, indicating a total crop for the year of 9,981.000 bales against 13.047,000 bales last year. Mr. Murray estimated acreage at 28.576.000 against 40,852.000 a year ago. STEEL INDUSTRY PAY ROLLS RISE May Wages Show Increase of $6,424,053 Over April. By Timet Special NEW YORK. July 2.—Pay rolls in the steel industry in May reached anew post-depression high of $51,895.931. an increase of $6,424,053 over April, according to figures announced today by the American Iron and Steel Institute. At the same time, it was revealed that 18.276 more people were employed during the month, bringing the total number of employes up to 449,362. The number of wage earners, workers paid on an hourly, piecework or tonnage basis, increased 17.629 during the month to 409,698. This is slightly more than 97 per cent of the total employed at the 1929 peak and is 104.459 more than were employed a year ago. Total wages for this group increased during May by 16.6 per cent to $42,916,172. The average hourly wage a worker in May was 64.6 cents compared with 47.3 cents in June, 1933. The average hours a week of each wage earner during May was 36.6 compared with 33.7 in April and 39.4 in June last year. Average hours a week for all employees, including those on salary, was 37.1 and the average hourly wage rate was 70.3 cents, making an average weekly income for all employes of $26 08. Total hours worked bv wage earners increased from 56,723,813 in April to 66.450,593 in May. During the same period the industry’s operating rate increased from 54.19 per cent of capacity to 58.06 per cent. SHIPMENTS OF NEW WHEAT SET RECORD Kansas City Receives 1,000 Carloads of Grain. By United Brets - KANSAS CITY, July 2.—Approximately 1,000 carloads of new 1934 winter wheat rolled into Kansas City today, establishing a record movement for the year. The golden gre'.i was shipped from country elevators in the southwest. Much of the crop is destined to stop here to be stored in the huge grain terminal. Hundreds of carloads will journey northward to the milling areas of the Great Lakes. Arrivals of new wheat here last week totaled slightly more than 3,000 cars, or double the figure of the preceding week and about 1,300 cars more than a year ago. More receipts were handled than in any week of the 1933 season. Reports from Enid, Okla., showed 6.000,000 bushels, or nearly onefifth of the Oklahoma wheat crop, already shipped. The new wheat, according to official inspectors, tested good and with a high protein. The quality was good despite drought. MINING CONCERN GIVES TWO 15-CENT DIVIDENDS Alaska Juneau to Make Quarterly and Extra Payments. By Timet Special NEW YORK, July 2.—The usual extra dividend of 15 cents in addition to the regular quarterly dividend of 15 cents a share on the common stock was declared late last week by directors of Alaska Juneau Gold Mining Company. Both payments will be made Aug. 1, to holders of record July 10. A dividend of 50 cents a common share was declared by the Vana-di\im-Alloys Steel Company. Three months ago the firm paid 25 cents a share. Campe Corporation resumed payments with a 20 cent disbursement, the first since Oct. 1, 1930. THIRD QUARTER STEEL PRICES ARE SLASHED Decrease Effected to Bolster Declining Output. By Timet Special CHICAGO, July 2.—Third quarter schedules posted with the American Iron and Steel Institute show price reductions for steel will be effected by manufacturers instead of the expected advances. Purpose for the reduced prices are being viewed in trade and market circles as a distinct bid for new business to bolster the sharply declining output. Pittsburgh and Cleveland mills are quotiing steel bars at more than $2 lower and sheets have been i slashed from $3 to $6.

Abbott, Hoppin & Company 203 Continental Bank Bldg. RI ley 5491 e&SKh MEMBERS New York Stock Exchange Chicago Board ot 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

PAGE 11

FUTURE PRICES UNSETTLED IN SLOWJRADING Cooler Temperatures Over Belt Has Slight Effect on Grain Market. BY HARMAN \V. NICHOLS United Press Staff Correspondent CHICAGO. July 2.—Cooler temperatures over much of the belt and concern over the private crop reports due late today brought an unsettled tone into grains at the opening of the Chicago Board of Trade today. Wheat opened unchanged to ■% cent lower, corn was off % to ■'% cent, oats were % cent lower to % cent higher, and rye was off % cent. The trade expected little change in the wheat estimate, although corn was expected to be forecast at between 2.300.000.000 bushels and 2,400.000,000 bushels against last year’s harvest of 2,330,000.000 bushels. Oats, it was believed, would yield about 600.000.000 bushels, half a normal crop. Liverpool wheat opened a shada lower as expected. Chicago Futures Range —July 2 Prev. Wheat— High. Low 10:00 close. July 89% .89% .89% 89% Sept 90% .90 90'b .90% Dec 91% .91% .91% .91% Corn— July 59% .58% .59% .59% Sept 61 .60*2 .61 61 % Dec 62 .61% .61% 62% Oats— July 43% .43% .43% .43% Sept 44 3 b .44 >b .44'* .44% Dec 45% .44% .45% .45% Rye—* July 65% 65 .65% .65% Sept 67 .66% .67 .67% Dec 69% .69 .69% .69% Barley— Julv .. .. 53% Sept .. .. .53 The above wheat prices are for old contracts. CHICAGO PRIMARY RECEIPTS —June 30Bushels. „, Todav. Last Week. Wheat 2.473,000 1.483 000 Corn 405.000 436.000 Oats 106.000 64,000

Cash Grain

Local Wagon Wheat City grain elevators are paying 78 cents for No. 2 soft red wheat. Other eradea on their merits. (Bv United Press) CHICAGO June 30.—Cash Grain: Wheat —No. 2 red. 91' 2 c: No. 1 dark. hard. 92 r, 4c; No. 1 hard. 92®92 ] 2C; No. 2 hard. 91 1 2 "??> 92tic: No. 2 mixed 90'91c. Corn—No. 2 yellow. 62c: No. 3 yellow, 61>2c: No. 3 white. 64’ 2 c: No. 4 white. 63c: sample. 50c. Oats—No. 2 white. 44 Uc: No. 3 white. 43 'lOi 44c; sample. 39 , 1^39 1 4C Bariev. Quotable 56® 98c. Timothy—s9.2s® 9.50. Clover Seed—slo.2s® 14. Cash Provisions Lard, $6.67: loose $6.15: leaf. $6.12: bellies. $9.50. .TOLEDO. June 30.—Grain Close: (Grain in elevators, transit billing)—Wheat—No. 2 red. 90*2^/91' 2 c. Corn—No. 2 vellow. 54' 2 1 ©65'sc. Oats-No. 2 white. 4849 c. Rve—No. 2. 69 1 a45 70'bc. (Track prices. 28'2C rate.) Wlmat—No. 1 red. 87®87'2C; No. 2 red. 86® 86‘be Corn —No, 2 yellow. 60'i&61c: No. 3 vellow. 59 1 . ® 60c; No 4 vellow. 58' 2 ®59c. Oats—No. 2 white. 44'i® 46c: No. 3 white. 44®45>i>c. (Toledo seed close). Clover—Cash $8.25. Alsike— Cash. $8.50. ST. LOUIS. June 30.—Cash grain: Wheat—ln good demand: > 2 cent lower on red and cent lower on hard wheat; No. 1 red. 90 l 2 c: No 2 red. 89®90c: No. 3 red. RS'i'o 89‘.-c: No. 4 red. 87Q97>ic; No. 1 red. garlicky. 87’zc; No. 2 red. garlicky. 85® 89c: No. 3 red. garlicky. 94tie: No. 5 red. garlicky. 83 ! ic: No. 2 red, smutty. RS’io:; No. 3 red. 87c: No. 4 red smutty. 86c: No. 2 hard, 91c nominal:! No. 1 mixed. 90 U ® 91 3 4C Corn —In fair demand: no sales. Oats—ln good demand. ’,4C higher; No. 2 white. 47tic. ELECTRIC PRODUCTION NEARS ALL-TIME HIGH Continued Rise Brings Output Within 1.6 Per Cent of Record. NEW YORK, July 2.—Energy production last week registered its third successive weekly increase and now is at a point only 1.6 per cent below its all-time high for the week, Electrical World reports in its issue of June 30. "Together with another rise in carloadings and sustained strength in bituminous coal production,” the publication says, "these figures would seem to indicate that industrial activity and movement of manufactured goods might carry over the summer without a general business slump. "More than confirming the worst fears of those who forecast a drop in steel output, however, a 20 per cent decline in production in that industry has occurred. This news, apparently well discounted in market circles, was greeted by an appreciable advance in general stock prices. Bonds continued to show strength, and commodity prices, exhibiting mixed trends, generally maintained their high levels. three”AUTO CONIPANIES REPORT RISE IN SALES Buic-k, Dodge and Studebaker Show Gains During June. By Times Special CHICAGO, July 2.—lncreases in retail sales are reported by Buick, Dodge and Studebaker motor car companies for last month. Studebaker deliveries in the first twenty days of June totaled 3,633 units, an increase of 37.3 per cent over the first twenty days of May, and 40.5 per cent above the similar period last year. Sales of Buick cars in the first ten days last month totaled 3,014, the largest number in that much time since March, 1932. Dodge company reports sales in the week ended June 23, including Plymouth cars sold by Dodge dealers totaled 6.617 against 6,401 in the previous week and 4 908 in the corresponding 1933 week. New State Financing Drops fin 7 imes Special CHICAGO. July 2. The daily bond buyer estimated new state and municipal financing this week will total approximately $8,005,081 as compared with $64,653,881 last week.