Indianapolis Times, Volume 46, Number 71, Indianapolis, Marion County, 2 August 1934 — Page 15

AUG. 2, 1031.

Wall Street U. S. May Place Heavy Tax on Speculative Profits. —BV K4l PH IfF.NDERbHOT

I iir.M Serial financial Wrilff DISPATCHES from Washington ’hr- week stated that the rovfrnmfnt has taken step* to collect tax** on profits which were made in pool operations bark in the • sronrj old days." It that mr.v.dials pariripa’inz in these re-r-i'edly ill-trof'en ga.ns paid their tribute to Untie Sam but tha* the aid bov fig-

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ures his cutin was not large enough, things being as thev are today. It may be that he will find many of the pool particlpants in much the same boat as some of our foreign national debtors. The irrpor-

Hendershot

tanre of the action, however, may lie more in its indirect than in its direct application. It is not the fir ? time the government has indicated that it should ge* a big .slice of speculative profits. When it put through the silver legislation in the last congress it attached a special provision requiring those who profiled from trading in the white me*al to kick back 50 per cent in taxes. Most people expect the government to loose the reins on inflation In the not very distant future. It would occasion no great surprise if it .sought in some fashion to share in the profits from this inflation. It is argued that this would be a splendid way for the government to pay oft its rapidly mounting debts. One wonders, of course, to what extent it might defeat its own purpose if it sought to do so. a a a r % 'Mfc tax it placed on silver tradJL ing has tended to drive the : futures market in the metal to Lon- j don. pealings in New York have dropped to a very low point, and the price has remained consistently be- j hind that in Englands capital. In all probability American speculators have shifted their operations to London to evade the tax. Whether thev could do the same in other instances would remain to be seen.; Fear of taxation may be keeping: many people from attempting to anticipate the inflation they seem to be certain will occur. Another factor. perhaps, is the time element. Few' seem to have any firm convictions as to when the inflation null is likely to start grinding. It is a little difficult to get the government’s slant on speculation. I has seemed to be rather outspoken on the subject of excessive speculation, and in the case of silver. as already has been mentioned it apparently has taken a stand against speculation of any kind, unless, of course, its principal object in that case was to secure revenue nan PHOHABLY no two persons would agree as to just what constitutes excessive speculation or at precisely what point speculation becomes excessive. Perhaps, though, that is attempting to draw the line too fine. Perhaps also, due to the fart that the government was crowded mto the silver legislation and that other special circumstances surrounded the situation at the lime, one should not conclude that i it is opposed to a reasonable amount of speculation. In recent years the country has been suffering from too little rather than too much speculation. One of the reasons why people will not buy more goods is that they do not wish to speculate on what may happen a month or two hence. And the big reason why banks will not loan , money more freelv to industry is that thev are unwilling to speculate on the business future. Stripped to the hide, the main object behind the idea of inspiring) confidence in business is to get j people to speculate. In the Cotton Markets —An*. t CHICAGO High low Close January 1* 37 13 37 13 31 March 13 48 13 78 13 45 Mv 13 S6 13 44 13 53 October 13 II 13 09 13 if December 13 34 13 22 13 29 NEW YORK January 13 30 13 20 13 28 March 13 42 13 31 13 39 Mav 13 50 13 3* 13 47 Jtllv 13 52 13 44 13 52 Oc'.'her 13 15 13 03 13 12 bar .. 13 27 13 15 13 24 NFTW ORLEANS Jamaary 13 24 March 13 35 13 33 13 35 Mar 13 43 13 40 13 4! Julv . 13 44 October 13 12 13 01 13 07 December 13 25 13 13 13 20. N. Y. Coffee. Sugar Futures All* 1 COFFEE Samoa High. Low Close I March 10 95 10 go in 93 ! Mar 11 00 10 R 5 11 00 .Tilr 11 05 10 90 11 05, Sentember 10 70 10 40 10 70 December 10 87 10 70 10 88 ; Rt March ... 827 I Mu 8 35 I September 4 05 goo 8 05 December * 20 8 15 8 20 St GAR —Au*. 1 H;*h Low. Close January 1 81 March 1 86 1 84 1 84 Mar 1 VS Julr 1 93 | R-p’err ber 1 77 1 74 1 74 December 183 181 182 Retail Coal Prices The following prices represent quo’at -ns from leading Indianapolis coal dealer! A cash discount of 25 cents per ton Is allowed Domestic Retail Prices Anthraci’e sl3 so Rralil lump 400 Rraiil egg 5 50 Brant mine run 5 25 I * - • 525 Coke egg nre 825 Indiana forked lump 6 00 j Indiana eg* 675 Kentucky tump .. 7 00; Pocahor.-aa lump *OO Pocahontas eg* 8 001 Pocahontas forked lump 9 00 ] Pocahontas mine run 7 25 New River smoaeless .............. 800 West Virginia lump 6 75 West Virginia eg* 850 lslaftd Creek 700 Ex'ra charge of 5(Vc a ton for wheeling Coal and $1 a 'on for coal carried to bin. Rond Redemptions Loner B-! 7 lao Special CHICAGO Auc. 2— Redemptions rs $15939.200 m bonds scheduled for August compares with $22 043.280 m July and *13.223 700 m August of last year. The current total comprises $11.175 900 called in full and $4 783 300 called in part to satisfy amking fund requirements.

SECURITIES DIP FRACTIONS AS VOLUME DROPS Stock Sales Total 310.000 Shares During First Three Hours. BY ELMER C. WALZFR United Press Financial Hitnt NEW YORK. Aug. 2. — Almost all •lading interest seeped out of the stork market todav as prices showed declines of fractions to about a point. Up to l p m only 310.000 shares had been exchanged and only small blocks appeared on the tape. The slowest pare came as stocks firmed slightly from their lows. Sugar issues commanded the only attention on the upgrade, led by Cuban American Sugar preferred, which was 3 points higher at 61%. Other sugar issues showed a little firmness. In the general list American Telephone was fractionally lower at K 9 %, United States Steel was off at 35 Chrysler and General Motors showed fractional declines. New York Central was off a point at 20'-.. and Atchison was off \ at 51. Sterling products continued to show almost four points loss after an earnings statement showed a de-j cline in profit.

Money and Exchange INDIANAPOLIS BANK CLEARINGS —Aug. 1— e> rings $2,213.000 00 Debits 5.033,000.00 FOREIGN EXCHANGE (Bv Abbott. Hoppin Sc Co.I —Aug. 1— Close. B’erline England $5 03 -% Franc, France 8. .0659 Lira. Italy 0856 Rclgias. Belgium 2346 Mark. Germany 3872 Guilder. Holland 6761 Peseta. Spain 1366% Krone, Norway 2532 Krone. Denmark .2251 Treasury Statement <Bv United Press i WASHINGTON. Aug 2 - Government expenses and receipts of the current fiscal tear to Julv 31. compared with the corresponding period of the previous fiscal year. This Year Last Year. Expenses ..$ 466 273.908 28 $270,970.710 95 Receipts ... 218.188 802 46 163.213.570 83 Deri' .. 243.085 105 82 107.757 140.12 Cash bal. . 2.471.880 859 25

Investment Trust Shares (By Abbott. Hoppin A; Co.I —Aug. 1— Bid. Ask nmeriran Bank Stocks Corp 101 1.05 American A- Geneial Spc A . 3.50 4.12 American A/ Inv Tr Sh .. .. 1.75 Basic Industry Shares 288 2.98 British Tvpe inv Tr Sh 32 38 Colla’eral Trustee Shares A 4 12 437 Corporate Trust Shares toldl 1.83 187 Corporate Trust Shares (new) 208 213 Cumulative Trust Shares ... 350 3.60 Diversified Trust Shares A .. 625 .... Diversified Trust Shares B .. 685 Diversified Trust Shares C .. 271 278 Diversified Trust Shares D .. 4.15 430 First Insurance Stock Corp.. .50 1.00 First Common Stork Corp .. .52 .57 Fixed Trust Oil Shares A ... 7.25 Fixed Trust Oil Shares B 6 25 Fundamen'al Investors Inc .. 1.68 186 Incorporators Investments ... 15 87 16.12 Land Bank Bond Shares 1.14 Low Priced Trust Shares .... 480 490 Mass Inv Trust Shares 17 50 17 87 Nation Wide Securities 2 93 2.97 N'orth Am Trust Shares <53i.. 1.71 No Am Trust Shares /55-561. 211 216 North Am Trust Shares isß>.. 209 2.14 Selected American Shares 221 Selected American Shares Inc 102 .... Selected Cumulative Shares 587 Selected Income Shares .. 305 S’d American Trust Shares A 2.65 270 Trust Shares of America ... 255 260 Trustee Std Oil A 505 525 Trustee Std Oil B 455 4 70 U S Electric Lt A- Pwr A 11 00 11.50 Universal Trust Shares ....... 2.60 2.73 Daily Price Index 'Bv United Pressi NEW YORK. Aue 1 Dun A- Brad.streets daily weighted price index <xf thirty basir commodities compiled lor the United Press • 1930-193 average. 1001 Todav (new 1934 high) 115 48 Yesterday 115.16 Week ago 114.42 Month ago 11l 61 Year ago 'Aug. 2t 105.17 1934 high 'Aug. 1) 115 43 1934 low iJan 3i 10105 'Copyright. 1934. bv Dun A Bradstreet. Inc.t New York Bank Stocks (Bv Abbott. Hoppin Sc Cos.) —Aug. 1— Bid Ask. Bankers .. 60% 60% Brooklyn Trust 90 93 Central Hanover 123 124 Chase National 24% 24% Chemical 40% 41 % National Citv 23% 23% Corn Exchange 49 49% Continental 12% 13 Empire 18% 18% First National 1.590 1 610 Guaranty 341 343 Irving 15% 16 Mahatten A- Cos 28% 29% Manufactures 19 s * 20% New York Trust 98% 99% Public 30%. 31% credit"firm earns 97 CENTS A SHARE Commercial Company Income Shows Huge Gains for Quarter. By Time* Special BALTIMORE. Md . Aug. 2 —Commercial Credit Company earned 97 cents a share on its common stock for the quarter ended June 30, as against 16 cents a share earned during the corresponding period of 1933. With 73 cents a share earned in the March quarter of this year, net income applicable to the common was $1.72 a share for the first six months of this year, and 83.09 a share for the year ended June 30. Gross purchases of all receivables for the June quarter amounted to $124,483,159.74 compared with SB3 689.353.69 for the March quarter and 8208.172.513 43 for the sire months ended June 30. This compares with gross purchases of $76,017,901 77 for the first six months of 1933 and $331,837,781 - 42 for the year ended June 30. of the current year. JUNE ~NET_ SALES _ RISE McKesson A Robbins Earnings for Month Total $9,922,537. By Dm> Special CHICAGO. Aug. 2.—McKesson <fc Robbins, Inc., drug manufacturers and distributors, report net sales of $9,922,537 for June, as compared with $8,956,800 for the corresponding month last year, an increase of $965,737. or 10.78 per cent. Sales for the first six months of the current year aggregated $62.567.922 as compared with $48,874,789, reported for the corresponding period last year, an increase of $13,693,133. or 28 02 per cent. JEWEL” TEA^SALESGAIN Increase of 29.6 Per Cent Shown in Four-Week Period. Bv Time* Special CHICAGO. Aug. 2—Sales of the Jewel Tea Company. Inc., for the four weeks ended July 15. total $1,311,074 as compared with $1,015.832 for the corresponding period of 1933. an increase of 29.6 per cent. Sales for the first twenty-eight weeks of the current year amounted to $8,945,766, against $1,405,140 for a like period a year ago, an increase, of 20.80 per cent.

New York Stocks ~~ Bv Abbott. Hoppln * Cos ) ———~

AVERAGE STOCK PRICES FOR WEDNESDAY Net High. Low. Close, change. Thirty industrial* )90.96 88.55 90.57 - 2.52 Twenty rail* 35.85 35.00 35.75 - 1.07 Twenty utilities 20.63 19.98 20.53 +.63 tip-

—Aug. 2 Prev. Oil High. Low. 10 00. close Amerada 44 1 a 44% Atl Rfg 24% 23% Bsrnsdalle 7 6% 6 T 7 Conaol Oil B’a 8% Cont of D1 17*4 18 Houston 'nwi 15% Houston (old i 15 Mid Cont Pet 10% Ohio Oil ... 9% Pet Corp 7 Phillips Pet 9% 9% Pure Oil ... 83’. Rovsl Dutch 42'. Sbd Oil 26% 26*4 Shell Un 7 Bkellev Oil 14 14% Soc Vac 33 % 32% S O of Cal 30 S O of N J 43’* 40 Sun Oil 63 1 1 Texas Corp ... .. 22 1 a 22’, Tidewater Assn . 9N 9% 9' 9 1 , Un Oil of Cal 15 15 Steel*— Am Roll Mill* .. 14i, 16% Be*h Steel 28’. 28 28 28 s , Bvers AM 16 Col F Ac I 4% 4 3 a 4 3 4% Cruc Steel 19% Inland Steel ... ... 38*4 Ludlum Steel 9% Mid Steel 81b . Natl steel 39% Otis S*eel 4' 4 Rep I Ac S 13’4 Rep I Ac S Dfd 40 U S Pipe Ac Fdy 17% U S Steel 35' 2 35’, U S steel pfd 83', Warren Bros .... ... ... 6’ 2 Youngst n S Ac T ... 16% Motors— Auburn . . 18 Chrysler 35 34', 35 35 Gen Motors ... 28'3 28', 28’4 28 J Graham oMt ... 2 I s * Hudson 7 3 * l't Hupp 2 1 a 2 3 a 2 1 2 2% Mack Truck 25 Nash ••• 14% 14' j Packard ... 3 2’, Studebaker Yellow Truck .... ... 3% 3'.,

j Motor Acre**— I Bendix ... 12% 12% | Bohn Alum 54 Borg Warner .. . • 20 s , 20' 2 Briggs IS 3 * 15! la- 3 a 15 Budd Wheel 2% Eaton Mfg 14'2 Elec Auto Lite 17% 1T,4 17% 17 s , Houdaille ’A’ .... 3 s , Mullins Mfg 6% Murray Boev 5 Slew Warner .... 6!* Timken Roll • .. ... ... 27 Timken Pet Axel ... 5% Mining— Alaska Jun 20% 20 1 2 20% . Am Metals . . 17'2 Am Smelt 34'4 34 34 33’* Anaconda ... ll'/i 11% Cal Ac Heel a 3% 3% Cerro De Pasco .37 36 36 % 37 Dome Mines 42 42’4 Granbv ... . 6'2 Gt Nor Ore . . 9'2 9'2 Homestake Min .. ... . 428 Howe Sound.. 47’2 47'h Ins Copper 3 s , Int Nickel 24'/* 24 Int Silver 2 3 Ist Creek Coal 28', Kennecott Cop 18% 18% Mclntyre Mine .. .. ... 46'2 47 Noranda Cop 41 1 2 Park Utah 3% 3!, Phelps Dodge ...... ... ... 15 St. Joe Lead . .. ... 18'i U S Smelters 127 127', Vanadium ... ... 16'4 Amusements— Croslev Radio .... ... 15!* Fox Thea 10 9% Loews Ins 24 23'2 23'2 23 s , Radio Corp ... ss*5 s * 1 a IiKO 1% Warner Bros 4 4 Toboeens— Am Snuff 17% Am Tobacco A 74 74 Am Tobacco B 76'2 Gen Cigars . 42 LiggA-Mvers B . .. .. 96’ 4 96% Lorillard 6 17'2 l 7 '*' Reynolds Tob B 45'2 45'., 45 1 3 45", Rails— Atchison 51 "4 51% Atl Coast Lines 27 B Ac O 15’* 15*4 Can Pac ... 12 3 4 12% Ch Ac Ohio 43 43 Chi Ac Gt W .- 2!h Chi & Gt W pfd 4’, C M Ac St P 3', CM* St P pfd 5 4 1 , 5 4’, Chi N W 6!i 8 Chi N W pfd 11U Del Lac * W 16!4 Erie .13 Erie pfd ... ... . 18'.4 Grt Northern pf 15'4 15 111 Central 16 3 /* 16% K C Sou 8 Lehigh Valley .... 11 Lou ft Nash ... ... 47Vi M K & T 5' 2 M K * T pfd 16% Mo Pac 2% Mo Pac pfd 3*4 N Y Cent 21', 21 21 21'.2 N Y Chi A* St L 12 NYC*St Lpf 21>2 21 3 , 21'2 21 N Y New Haven 10!, 10% N Y Ont & West . . 6 Nor Pac 17', 17 17 IT, Penn R R 24', 23*4 23*4 24 Sou Pac 17 s , 17% 17',b IT 2 Sou R R 14VV 14 s , Sou R R pfd 17',2 Union Pac 103 West Maryland.. 9 9V, Equipments— Allis Calmers 12'i 12' 4 Am Brake Shoe. .. ... Am Car Ac Fdv .. ... 15'4 15',, Am Car & Fd pf 36 Am Loco .. ... 19' 2 19 Am Mach A* Fdy 13% Am Steel Fdy 12% 12 Bald Loco ... 7% 7'b Bald Loco pfd 11% Burrough. 11% Case J I 40% 40 Cater Tract .... . 26% 26 Deere * Cos . 13% 13% 13% 13% Elec Stor Bat 38% Foster Wheeler 11 10% Gen An Tk Car. . 34% 34 Gen Elec ... 18% 18% 18% 18% Gen R R Sig .... ... . 30 Inesol Rand ... 54% 54 Int Bus Mach 135 Int Hart ester .... .. . 27*4 Natl Cash Reg ... .. 13% 14 Pullman Inc 44% Rem Rand 8% West Air B . . 18 Westingh Elec . 31% 31% 31% 31% ttilitie*— Am & For Pwr 5% Amb Power & Lit . .. 4% 4% AT&T ...109% 109% 109% 110 Am Wat Wks .. .. Brook Un Gas ... .. 60% .. Col Gas & Elec. 9*4 9% 9% 9 Com & Sou ... 1% 1% Consol Gas ... 28*4 28% Elec P & Lit 4% E P & L pfd 9% 9% Int Hvdro Elec. .. ... 4% 4% Int T & T 9 s , Lou G & E A . 14% Nat P A Lit 9 B*4 8% 8% North Amer ... 14 13 s , Pac G * E 16% 16% Peoples Gas 24% 23% Postal Tel pfd 13’* Pub Serv N J 33 32% So Cal Edison 147, 13% Std Gas 7% 7% Std Gas pfd 8% Stone & Webster s’, United Corp . 4% 4 Western Union . 35*4 35 35 35% Rubbers— Goodrich 9% 9’, Goodyear 21% 21% Kelly Spring .... . I*, U S Rubber . 14% 14 14 14% U S Rubber pfd 34 34% Misrellaneous— Am Bank Note . 15 14% 14’, 14% Am Can ... ... 95 Anchor Cap 15% Brklvn Man Tr. 37% Conti Can ... . 77% Crown Cork 24 % 2.3’, Curtis Pub ... ... . 18 s , Eastman Kodak. .. ... 99 98% Gillette 11% 11 s , Glidden 22 5 , 22% Owens Bottle ..... 67 Foods— Am Sugar ... 66 s . 66% Armour A . ... 4% 4% Beatrice Cream . 13% Borden Prod . 25% 25% Cal Packing 37% 37 s , 37% ”7% Can Dry G Ale 15% Coca Cola 130’, 130% Cent Bak A 6 s * 6% Corn Prod 63% 63% Cuban Am Sugar 7% 7 Gen Foods ... . 29% 29% 29% 29% Gold Dust 18 O w Sugar33s,2 5 , 32', Int Salt 28 Loose Wiles 40% Natl Biscuit . 33% 33% Natl D Prod ... 17 16% 17 16 s . Puritv Bak 11% 10% S Por Rico Sug 35 34% Std Brands . 19% 19% Un Biscuit 25 United Friut .... ... 68% 69 Retail Store,— Assn Drv Goods .2! 3 Best * Cos 30’* First Nat Stores 64 Gimbel Bros ..... 3-. Gr Unu Teg -7% Hahn Dept Sts 4% 4 Kresee S S 17% 18% Kroger Groc 29 M% Macv R H 39', Marshall Fields 10% 10 Mav Dept St ■.% Mont Ward 23% 23% Natl Tea 22 Penny J C s;'* Safewav St 46 j Sears oßebucic 36% 36. Wool worth 48 s . Aviation— Aviation Corp .. •• ... 4% 4% Curtiss Wright 3> 2 4 Curtiss Wright A •'* ,?% Douglas Air 17% 1% Nor Am Av 3% 3_. Speerv Corp .. . .... '% United Aircraft . 15% 15-a 15% 15 4 Wright Aero 43% 43% Chemical,— Air Reduction ,22 lj Allied Chem ■ . 126 Am Com Alco 24 , 24% Col Carbon ... . . 65% Com Solvents ... 18 li% %% 1 Dupont Freeport Tex 29% 38% Liquid Carb .... 21, Math Alakli 28% 28 28 27% Montoson Chem . • 49% Natl DU lit'. 18% 11% 18% 18% Scheeneley mt. 20% 20% Tax OulX sClph. 31% 33% 33% 33

THE INDIANAPOLIS TIMES

Union Carbide 41% U S Ind Alcohol .. ... . 37 s , Vir Chem 6'. pf .. ... 15% 13 Drug,— Coty Inc ... 4', Lambert ... . 24% Lehn * Fink 17 Un Drug 11’, Zonite Prod 4 3 Financial— Aaams Exp ... .. 6’, Allegheny Corp ... ... 2 2 Am Int Corp 6 Chesa Corp 40 Lehman Corp .... ... .. 67 Transamerica .... ... s’, 6 Tr Conti Corp ... 3’, Building— Am Radiator ... 11% 11% 11 s , 11% Gen Asphalt ... 14% 14 s , 14 s , 13% Int Cement ... ... 22 Johns Manville 44 s , 44% Libby Owens Gls 28% 28 Otis Elev 14% 14% Household— Col Pal Peet 15 Congoleum 26% Kelvinator 13 12% Mohawk Carpet. 13% Proc & Gamble. .. ... 36 36 Simmons Bed ... 10% 10% Textiles— Amer Woolen .... ... ... 7% Belding Hem .. . 11% Celanese Corp . 20% 20% 20% 20% Collins Aikman 11% Gotham Hose .. 5% Indus Ravon '... 23 22% 23 22-% Kayser Julius 14 New York Curb (Bv Abbott. Hoppin * Cos.) —Aug. 1— Close. Close. Allied Mills . 7' t Glen Alden Coal 21% Alum Cos of Am 55% Hiram Walker . 25 Am Cyanide B 18% Humble Oil 42% Am G * El .23 ilmp Oil Ltd ... 14% Am Superp wr. 2 Hud Bav Min . 13% Assn G * E 1... % Int Petrol . 26% Atlas Corp 8% Lake Shore Min 53 s , Brazil Tct * Lt B%Libby Me Libhy 5% Can Ind Ale A 7%. Nat. Bell Hess. 2% Can Marc ... I’, Newmont Min .. 47% Carrier Corp .. 8%. Nia Hud Pwr 4% Cities Serv l%,Pan Am Airwvs 32 Consol Gos Bit 66 Penn Road . . 2 Cord Corp 3% St Reg Paper .. 2% Creole Petrol .. 11% Sherwin Wms .. 71% Deere & Cos. ... 13% Std of Ind . 25% Distillers Corp . IP, Technicolor Ind. 11% Dow Chem ... 72% Teck Hugh Gold 6% El Bnd & Sh .. 11% Un Gas 2 Ford of Can A. 19 iUn Pw & Lt A 2% Ford of Europe. 7% Wright Har Min 9%

Chicago Stocks (By Abbott, Hoppln * Cos.)

Aug. 2. High. Low. 11:00 Bendix Aviation 12% 12 12 Berghoff Brew Cos 4% Borg-Warner 20-% Butler Bros .. 7% Cities Sercive 1% 1% 1% Comonwlth Edison.... 49% 4ft’’ 48% Cord Corp 3 Marshall Field ft Cos.. 10% 10% 10% General House Util .... 8% Libbv-McNeil 5% 5% 5% Swift ft Cos 17% 16% 16% Swift International ... 32% 32V* 32% Zenith Radio 2%

Bond Prices " Bv Fenner a Beanr

—Aug. 2 Am A- For Pwr 5s 2030 50% A TA-Tdb 5s '65 .110% 110% 110% Atchison Gen 4s 95 ... 104 B A- O cv 4%S ’6O 59% Beth Steel 5s A '36 103'* Brazil 6%s (26t '57 25% 24% 25% Can Pac 4s '57 .. 81% CMStPA-P adj 5s A 2000 8% 8% 8% CMStPft Prs 5s A 75 32 31% 31% Cons Gas N Y 4%s ’sl •.. ... 104 Det Ed 5s E '52 107% Erie R R rs 5s '67 63 s * Goodyear 5s '57 . 101% Gt Nor 7s A '36 90 s * 90% 90 s * Int TA-Tdb 5s '55 . 59% 59% 59% McKess ft Robb 5%s 'SO . . ... 79 Nat Dairy db 5%s ’4B . . 9814 N Y Cent 4'4s O 2013.. 69 68% 69 Para Pub 5%s ’SO ... 41% Penn R. R 4%s D ’Bl 97 Un Pac Ist 4s ’47 . 107'% U S Rubber 5s A ’47... 83% 83 83 Vanadium Ss '4l ........ ... 81 Ygstwn S & T 5s B '7O 85% U S GOVERNMENT BONDS (By United Press) NEW YORK. Aug. I.—Closing Liberties: (Decimals represent thirty-seconds) Liberty 3%s (32-47) 104. First 4%s '32-47) 102.30 Fourth 4%s <33-381 103.18 Treasury 4%5—3%s (45) 103.9 4%s '47-521 113 3 3%s (43-47) 104.11 3%s (41-431 March 104.16 3%s (40-43) June 104.16 3%S ' 431 104.17 3%S (46-49) 101,18 3s (51-55) 101.16 FEDERAL FARM LOAN BONDS (By Blvth St Cos., Inc.) —Aug 2 Bid. Ask. 4s .Tilly 1, 1946-44 99% 100% 4s Nov. 1. 1957-37 ..., 99% 100 4s Mav 1, 1958-38 99% 100 4%s Julv 1, 1956-36 99% 100% 4%s Jan. 1. 1957-37 99% 100% 4%s May 1. 1957-37 99 s * 100’* 4% s Nov. 1, 1958-38 100% 101% 4%s Mav 1. 1942-32 99% 100% 4%S Jan. 1. 1943-33 99% 100% 4%s Jan. 1, 1953-33 99 s * 100', 4%s July 1. 1953-33 99% 100% 4%s Jan. 1. 1955-35 99 s * 100% 4%s Jan. 1. 1056-36 100% 101% 5s May 1, 1941-31 100% 100% 5s Nov. 1. 1941-31 100’, s 100% —Home Loan—--3s Mav 1. 1954-44 100.04 100.08 4s July 1. 1951 100.09 100.13 —Federal Farm Mortgage Corporation—--3% March 15. 1964-44 101.25 101.30 The three latter quotations are in thirty-seconds.

Bright Spots ‘ (By Abbott. Hoppln & Cos. - ~

Seaboard Oil Company declares an extra 10-cent dividend along with the regular 15-cent payment. American Gas and Electric and subsidiaries for twelve months ended June 30, report a net income of 53.838.530 after taxes, against 53,869.932 for the previous twelve months. Crucible S'eel Company of America and subsidiaries for the six months ended June 30 showed a net profit of $712,034 after taxes equivalent to $2 85 a share. Proctor & Gamble announced an average price increase of 5 per rent on all its products effective yesterday. Standard Oil of California net income for the quarter ended June 30. was equal to 31 cents- a share against 25 cents a share for the previous quarter. Marriage Licenses Alfred Lauter, 27, of 3046 Washington boulevard salesman, and Emilv Whitaker, 24 of 5337 Central avenue, housekeeper. Garrett Kirkendall. 69. Cartersburge, Ind . and Katherine Beremen. 50. of 962 West Thirtv-fifth street, housekeeper Harrv Kraft 21. of 408 Beecher street, laborer, and Grace Elsen. 16. of 2852 North Illinois street, housekeeper Hugo Priller. 29. of 34 Karcher street, clerk, and Lois Pruett. 28. of 520 Sutherland avenue, clerk Rov Horne, 26. of 1528 Shelbv street, attendant. and Mona Doom. 22. of 640 East Tenth street, saleswoman. Louis Lovinger. 33. of 2922 Park avenue, grocer, and Thelma Izsak. 27, of 1006 North Senate avenue, tailor William Wegehoft. 42. Columbus O. electrical engineer, and Kathrvn Eicher. 35. of 114 South s'reet. housekeeper PPrest Cape. 29. of 1026 Dawson street, truck driver, and Edith Steele. 22. of 43 West Morris street, factory worker Dexter West. 38. of 219 West North street, cook, and Viola Green, 40. of 2333 Capitol avenue, maid Leo Botzum. 29. of 70 South Taft street, clerk, and Helen Saner. 24. of 121 North Ecgehill road, housekeeper. William Frantzreb 25. of 1231 Wright street, molder. and Charlotte Rohm. 24. of 39 East LaGrande avenue, stenographer. Paul Westfall, 22. of 2905 Central avenue. musician, and Bernice Knight, 28. of 2905 Cen'ra! avenue, cashier. Trov Lowe. 23. of 1712 East Washington street, unemployed, and Rubv Earnest. 21. of 1712 East Washington street, housekeeper Rav Milam, 26. of 1432 Prospect street, truck driver, and Caroline Schakel. 28. of 2757 Walker avenue, clerk Francis Hutchinson. 29. Cincinnati, clerk, and Marie Martin. 23. of 3564 Montgomery road, stenographer. John James. 27. of 1366 Roache street, laborer, and Eleanor Kaufman. 28. of 418 Exeter avenue, housekeeper Claude Cash, 25. of 1322 Richland street, newspaperman and Martha Hodge. 23. Mars Hill, assistant buver Virgil Miller. 25. of 339 Limestone street, student and aMe Fulton 23. of 1504 North Pennsylvania stree. nurse. Copper Output Declines CHICAGO. Aug. 2—United Verde Extension Mining Company during the month of June produced a total of 2.441.058 pounds of copper, as compared with 1 in the preceding month and 2,755,874 in April.

SWINE VALUES REMAIN STEADY AT STOCKYARDS Veals, Lambs Sharply 25 to 50 Cents Higher; Cattle Even. Initial sales of hops at the Union stockyards this morning were generally steady with yesterday's average. The bulk of 160 to 200 pounds, was selling at 54.70 to 54.90, while heavier weights, scaling 200 to 300 pounds, brought 54.95 to $5.05. Top | held at 85.10. Several light classes, weighing 130 to 160 pounds, cashed in at 83.25 to $3.90. Other smaller kinds ranging from 100 to 130 pounds, sold at 82 to 82.75. Packing sows were salable at 83.60 to 84.35. Receipts were estimated at 7.000. holdovers, 266. With only little action evident in the cattle market, the majority of classes remained unchanged. Bulk of steers ranged at 86 to $7.25, while best heifers sold around 86. Receipts numbered 700. Initial strength centered in veal trading, and practically all grades moved around 50 cents higher than the previous close. Bulk of good and choice kinds was selling from $5.50 to $6. Receipts were 700. An increase of 25 to 50 cents was displayed in lamb values, and the bulk of ewe and wether grades were salable from $7.25 to $7.50. Bucks were discounted SI. while throwouts brought $4.50 to $6. Slaughter sheep held at $1.50 to $3. Receipts were 1,006. July Bulk. Top. Receipts. 27. $4.95*5: 5.00 $5.90 4.500 28. 4.8541) 4 95 5.00 4.000 .30. 4.60® 4 80 5.00 6.500 31. 4.55® 4.75 4.95 8.000 Aug. 1. 4.7045! 4.90 5.10 5.500 2. 4.70® 4 90 5 10 7,000 Market Steady. (130-160) Good and choice $ 3.65® 3.90 —Light Weights—-(l6o-180) Good and choice ... 4.704? 480 (180-200) Good and choice ... 4.85® 4.90 —Medium Weights—-(2oo-220) Good and choice ... 4 954? 500 (220-250) Good and choice ... 5.00® 5.10 —Heavy Weights—-(2so-2901 Good and choice .... 4 954? 5.00 (290-350) Good and choice ... 4.85® 4.95 —Packing Sows—(2so down) Good 400 4? 4.35 (250 lbs.) Good 3.754? 4.10 (All weights) Medium 3.50® 4.00 —Slaughter Pigs—-(loo-130) Good and choice ... 2.00® 2.75 CATTLE Receipls, 700; Market, Steady Good and choice $ 6.504? 8.75 Common and medium 3.00® 6.50 U.IOO-1,5001-Good and choice 7.004? 9.00 Common and medium 5.00@ 7.50 (550-750) — Good and choice 5.004? 6.75 Common and medium 2.00® 5.00 (750-900) Good and choice 5.004? 7.00 Common and medium 2.00® 5.25 —Cows— Good 2.754? 3.50 Common and medium 2.004? 2.75 Low cutter and medium I.oo® 2.00 Bulls (yearlings excludedl Good (beef steersi 2.504? j.aO Cutter common and medium.. 150® 2.50 VEALERB Receipts. 700; Market, Higher. Good and choice $ 5.504/ 6.00 Medium 4 004/ 5.50 Cull and common 2.50® 4.00 Culvcs ■ Good and choice 4.50® 3.50 Common and medium 2.50® 4.50 —Feeder and Stocker CattleGood and choice 4.00® 3.50 Common and medium 2.75® 4.00 (800-1.500) Good and choice 4.00® 5.50 Common and medium 2.75® 4.00 SHEEP AND LAMBS Receipts. 1,000; Market. Higher Lambs, 90 lbs. down, good and choice $ 7.00® 7.50 190-110 lbs.) Good and choice 6.50® 7.25 (90 lbs. down) Com. and med. 4.50® 6.50 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.00 Other Livestock (By United Press) FT WAYNE. Aug 2.—Hogs, steadv: 250300 lbs.. $5: 200-250 lbs.. $4.85; 180-200 lbs.. $4.75; 160-180 lbs.. $4.60; 300-350 lbs.. $4.75; 150-160 lbs., $3.80; 140-150 lbs.. $3.55; 130-140 lbs., $3 25; 120-130 lbs., 100-120 lbs., $2.40: roughs. $3.50; stags, $1.75. Calves. $5.50; lambs. $6.50. LAFAYETTE. Aug. 2.—Market steadv to 15c higher: 200-300 lbs.. $4,854/ 4.90: 180-200 lbs.. $4,704? 4.75; 160-180 lbs.. $4.55 4/ 4.65: 140-160 lbs . $3,404/ 3.65: 125-140 lbs.. $2 754/3; 115-125 lbs., $2 25®2.50; 100-115 lbs.. $1.75®2. Roughs, $4 down. Top calves, $5. Lambs, $6.50 down. (Bv Times Special) LOUISVILLE. Aug. 2.—Cattle—Receipts. 250. including 69 direct: demand broad for all slaughter classes: market fully steadv at week's advance; bulk common to medium steers and heifers. $3,254/4.75: better nished fed offerings scarce, quotable $54/6, or better: bulk beef cows, $2,504/ 3: good. $3.50 and above: most low cutters and cutters. $147 2.25: sausage bulls scarce, salable mostly $3 down; stockers pracUcall? absent, nominally quotable fully steadv. Calves—Receipts. 375: vealer market strong; bulk better grades. $4.50®5: medium and lower grades. $4 down. Hogs— Receipts. 500: steadv; 210-300 lbs., $5: 185-205 lbs., $4.80: 305 lbs. up. $4.30: 160180 lbs.. $4: 145-155 lbs.. $3.65; 120-140 lbs.. $2.25; sows. $2.75. Sheep—Receipts. 1.900; supplv. moderate: quality fair, market not established: most earlv bids steady with sellers generally asking 25c higher on lambs or 56.504/ 6.75 for bulk better trucked-in ewes and wethers: choice offerings held to $7.25 and above; fat ewes mostly sl4/2: stock ewes moderately active, generally steady; bulk salable, $5.50 @7.50a head. Births Boys Albert and Mary Maschmever, Methodist hospital. Kenneth and Axalia Roe. Methodist hospital. George and Georgiana Kramer. Methodist hospital. Herman and Elizabeth Rohrberg, Methodist hospital. Edwin and Hope Gillett, Methodist hospital. Gailerd and Evelyn Ford. Methodist hospital. Percy and Thelma Lain. Methodist hospital. Clifford and Roberta Weaver. Methodist hospital. Russell and Velma Cavlor, Coleman hospital. William and Eliza Cottingim, Coleman hospital. Harry and LaVon Downs. Coleman hospital. Thomas N. and Ocia Hughes, Coleman hospital. William and Thelma Johnson. Coleman hospital. Herman and Louise Lackev, Coleman hospital. Cecil and Goldie Mitchell. Coleman hospital. Elbert and Grace Saunders. Coleman hospital. Guy and Marie Seaton. Coleman hospial. Paul and Marv Tolin. Coleman hospital. Frank and Nancy Wogerman. Coleman hospital. Harry and Deletta Wright. Coleman hospital. Girls Robert and Dorothy Lowe. Methodist j hospital. Albert and Mary Sterrett, Me’hodist hospital. Donald and Josephine Drury, Methodist hospital. Malcolm and Josephine Campbell. Methodist hospital. Clarence and Lois Houpt, Me'.hodist hospital. Glenn and Crestina Black, 716 East Georgia Rupert and Birdie Miller. 611 N. Pennsylvania. Ray and Bessie Basey. Coleman, hospital. Paul and Sarah Cook. Coleman hospital. Byron and Dorothy Dobson, Coleman hospital. Theodore and Dorothy Kirk. Coleman hospital. John and Harriett Mitran, Coleman hospital. Edward and Mary Moore. Coleman hospital. Samuel and Virginia Scalf, Coleman hospital. Eugene and Katherine White, Coleman hospital. Deaths Joseph S Anderson. 8. Methodist hospital, cellulitis of neck Margaret Hoppe. 84. of 1063 Hosbrook a rterio-sclerosis. Sue Stubblefield. 88. of 141-8 South Harding uremia. Curtis Granger. 31. of 944 Camp. mi!iarv tuberculosis Caroline Fernkas, 65. of 1756 Howard, diabetes mellitus Bernard Harcld Passmore. 1. Riley hospital enteritis. Nancv Elizabeth Butler. 75. of 1207 North Gale, cerebral hemorrhage Ver&ette Holland, 3 months, city hospital.

American Business Shows Great Progress in First 17 Months of New Deal

Recovery and Poor Relief Since Inauguration of President Roosevelt Cost Government Approximately 55.000.000.000. BY RICHARD L. GRIDLEY United Press Staff Correspondent (Copyright 1934. bv United Pre.ssi WASHINGTON, Aug. 2.—American business gained progressively in ten ol tne seventeen months of the New Deal. Business levels now are down approximately where they were in 1931 muddle year of the Hoover administration' having slumped this summer below tne averages of one year ago. Those ere the major conclusions to be drawn from an authoritative survey of the results of the Roosevelt recovery program compiled today from official records by the United Press. This statistical summary based on federal reserve board and commerce department figures indicates the extent of recovery since the President took office.

ILLINOIS BELL SHOWS DEFICIT OF $523,258 Income Totals $2,476,742 in First Six Months. B;i Tim fit Special CHICAGO, Aug. 2.—A sharp drop was registered in both revenues and net income of the Illinois Bell Telephone Company for the first six months of. the current year. Deficit during the period was reported at $523,258, approximately the same as at the close of the first quarter, despite the omission of the May 31 dividend. Net income before payment of dividends totaled $2,476,742, as compared with $4,405,207 for the first six months of 1933. Deficit in the same period last year amounted to $1,594,793, after payment of $6,000,000 in dividends. Total revenues for the first half of this year was placed at $22,148,956, against $36,462,436 in June, 1933. Total expenses of the company during the period 672 as compared with $30,484,661 for the same period of 1933.

BUSINESS ACTIVITY DIPS Index Shows Decline to 32.6 Per Cent Below Normal. By Time Special WINCHESTER, Mass., Aug. 2. General business activity, as recorded by Winchester’s business activity index, is now 32.6 per cent below normal. This shows a slight drop during the recent week from the preceding week and compares with 25 per cent below normal a year ago. A year ago this time business activity was at its height due to the artificial summer boom, whereas this year we are experiencing the seasonal summer slump. On Commission Row —Aug. 2 Quotations below are average retail prices being offered to buyers bv local commission house dealers. Apples—Fancy Delicious $2.50: Transparents. $1.50®2. Peaches. Georgia, Elbertas, bushel. $2 @2.50. Oranges—California Sunklst. [email protected]: Valencies, [email protected]. Lemons—Sunkist, $6.50. Grapefruit—Florida seedless. $4.50. Cantaloupes—lndiana jumbos, flats, 35® 60c: bushel. 50@60c. Pears—Caiavos, $2.50 a box. Watermelons—2s® 75c. Bananas—A pound sc. —Vegetables— Sweet Corn—Home grown, doz., sc. Cabbage—Home grown, bushel. 65@75c Celery—Michigan at boxes. $1.25: medium, doz. 45c. Onions—California yellow. 60-lb. bag. $1.50. Potatoes—Rural New York. 100-lb bag, $1.65; Idaho Russets. 100-lb. bag. $2: new, barrel. $2.85. Sweet potatoes—New Alabama bushel, $2. Beans—Round stringless, bushel. $1.25® 1.50. Beets—New, 25c a dozen. Carrots —Home grown, bushel. $2; doz.. 35c. Cauliflower—lOs-lls, crate, $1.75® 2. Lettuce—Outdoor, 15-lb. basket. 85c: head lettuce crate, $6. Peas—California, hamper. $3. Radishes—Ohio. 50 doz. bunches. 50c. Rhubarb—Home-grown, dozen, 25®30c. Spinach—Home grown, bushel. 65c. Tomatoes—Home grown—lo-lb. baskets, 30c; bushel. sl. CHICAGO FRUIT MARKET (By United Press) CHICAGO. Aug. 2—Fruits and vegetables: Apples—Michigan Transparents, bushels, 750/ sl. Cucumbers—lllinois, bushels, sl4/1.25; Michigan. $24/2.25. Tomatoes—lllinois lugs, 50c4/$l; 12 quarts. 50c 4/ $1.25. Sweet potatoes—Tennessee bushels. $1,254/ 1.50: Mississippi. $1504/ 1.85: Alabama $1,104/ 1.20. Mushrooms— Illinois pound cartons. 204/ 40c. Peaches —Georgia bushels, $1,654/2.25. Lettuce— California crates, $3,754/4.25: leaf, Ohio, 10 pounds. 65c. Beans—lllinois green bushels, $1,504/ 2.25. Cabbage—lllinois crates. $1,504/ 1.75; Wisconsin, $1,754/2. Cherries—Michigan. 16 quart red sour. $1 25@2. Cantaloups—lndiana crates. 40c 4/ sl. Cauliflower—Wisconsin bushels. SI 4/1.25. Corn—lllinois sacks, 5 dozen yellow. 404x50c. Peppers—lllinois bushels. $1,254/2. Carrots —California crates, $1.75 4/2.35; Ohio and Illinois bunches. 2%4/3c. Onion market 'SO-lb. sacks'—California yellows, sl4/1.15: California whites. $1.65 4/1.75; Washington Valencias, 90c®$l; lowa yellow's, 604/75c.

Produce Markets Delivered In Indianapolis prices; Heavy nens. 10c Leghorn hens. 7c 1934 broilers, 2 lbs. and over. 15c. Leghorn broilers Its to 2 lbs. and over 13c bareback broilers lie; old roosters. 4c: ducks and geese 3c; young guineas. 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. 4, 25®26c. Butterfat. 20c. Quoted bv Wadlev Company. (Bv United Pressi CHICAGO. Aug. 2.—Eggs—Market, firm: receipts, 6.931 cases; extra firsts. 18%c; fresh graded firsts. 18c; current receipts. 14%4/16c: dirties. No. 1,14 c: No. 2. lie; checks, No 1. 14c; No. 2, lie. Butter— Firm: receipts. 11.709: ex‘ra firsts ' 9091% score'. 23%4/24%c: extras '92 score'. 25%c. firsts 'BB-89% scorei. 22%4/23%c; seconds 'B6-87% score'. 20%4/21%c specials, 25%4/ 26%C; standards, 25c. Poultry Marker, weak; receipts. 47 trucks. 1 car: fryers. 13® 18c; white rock. 16c: broilers, Plymouth Rock. 15c: Leghorn. 13%c; geese 74/ 8c; turkeys, 14c old roosters. 3%c: hens. 11® 13c: Leghorn hens, ll®i2c: black chicks. 104/ 12c; cocks. 8c: Leghorn rocks. 9c. bareba'-ks. 13c: colored spring-. 17c: ducks, springs. 10%c; colored Plymouth Rocks, 16c Cheese—Twins. 11%4/ 12c; Longhorns, 12%4/12%c: daisies. 12% 4/12%c. Potatoes—Supply light, demand and trading slow market, dull: Idaho Triumphs. s2® 2.10: slightly dcaved. $185: Wisconsin Triumphs. $24/2.10: Wisconsin Cobblers, 5i.35; Idaho Russets, showing decay. $1.40; Virginia barrel Cobblers. $2.10®2 25 Arrivals, 39; on track. 148: shipments. 428 NEW YORK Aug 2 Potatoes—Steadv; Lone Island. $1.75 bbi : New Jersey 65c4; $1.15 bag, southern. 75c® $1.50 bbl; Ma:ne, $1®1.15 Sei>- potatoes— Ea*v Jersey bskt . $1,154,2 25: southern, bskt . 50c4, sl. Flour—Firm, springs: Patents. $7.50® 7,75 bbl. Pork —Quiet: mess. $19.75 bbl.: export tax not included. Lard—Firmer; middle west spot. $4 95@5 05 a 100 lbs. export 'ax not included Dressed poultry Steadv turkevs. 12® 33c: chicken'. B*28c broilers. 16® 23c capons. 25® 35c: fowls 8 / !7c and icks. 124/14c Long Island ducks, 11 s .® 15c. Lite poultry—Steadov; geese 6®7c; turkevs. 104/ 15c roosters, 10c: ducks. 8® 10c fowls, 9!6c: broilers. 124/ 15c Cheese—Firm: state whole milk fancy to specials, 18® 19c Young America?. 13%® 13%c. Eggs—Receipts 15.445 rases: market, firm, special oacks. including unusual hennerv selections. 234/ 25' c standards. 2!®22%c rsts. 18® 12c seconds 17 c; mediums. 16'.® 17c dirties. 16' c checks 14® 15c Butter—Receipts 13 824 packages, market firmed; creamer'. higher ' nan evras 26% ® 27c: extra 92 'Core' 26t first -90-81 score'. 25® 25%c first -88-89 score l . 24®24%c seconds. 23®23%c. CLEVELAND Aug 2. Buter—Market, firm: extras 29c: standards, 28%c Egg' - Market, firm extra whites. 18c current receipts. 15c: ordinary rst*. 13c. Poultry Market steady:' colored fowls. 4% lbs. and up 74%c: 5 lbs. and up. 14c. Pouaoea—Mostly $3.15 2.25.

PERCENTAGE GAIN Building Up 85 Pav Roils Up .2 roreign Traae Up ~>> Employment Up .35 freight Loadings . Up .31 Derartmfni Store Sales Un ,2n Bank Deposits Up .Jo Commodity Prices Up .23 J.n terms of money the price this country has paid for recovery and relief in the last seventeen months is believed to be upwaid of $5,000,000,000, or more than half of the $8,750,000,000 the government has spent since Mr. Roosevelt's inauguration. Strikes, Drought Factors One year ago today the country was counting the cost of the Roosevelt "little ooom" which began with the inauguration and collapsed m u/tily, this year. Factors in hampering business this summer were strikes, drought ana sensationally adverse developments in Europe. Add to those elements the doubts, fears and suspicion of Roosevelt policies which have developed in big centers among some financial leaders and you have the answer to the summer slump. But despite the recessions of June and July, business appears to have held much oi the sweeping gain made in the early months oi Rooseveltian ilile. Private estimates indicate that July statistics mot yet available m complete iormj will show industrial activity 39 per cent greater than on March 4, 1933. The 39 per cent gain in business activity in the above table is based on private estimates of a rise in the | iederal reserve board's index of industrial output from 59 in March, 1933, when President Roosevelt took office, to 82 per cent in July of this year. Prom 59 in March, 1933, the boards index rose to 100 in July, 1933, fell to 72 in September and then rose to 86 in May. 1934. It dropped to 84 in June and to an estimated 82 last month. At that figure, industrial activity would be 39 per cent of the 1923-24-25 arbitrary average. Business Gain Expected After further unsettlement in the current month administration officials are banking on a resumption of the rise in the early autumn and point confidently to their $6,300,000,000 recovery and relief ‘‘war chest" which they have available to spend in their effort to defeat depression. Federal spending slumped in July. Thousands were added to the unemployed relief rolls as pay rolls shrank in comparison to the early summer of 1933. Stock and commodity markets wavered. The committee for the nation estimated 810.000,000.000 of paper values were lost in ten days. The public debt hit an all-time high—s27,lßß,ooo,ooo. The administration plans further outlays. Plans are developing for an autumn spurt, sought to regain the upturn stride. July has been a month of recess and stock taking for the new deal. Mr. Roosevelt and many of his chief advisers have been vacationing. Automobile output fell from 80,936 units in the last week of June to 59.412 units in the final week of July. GROWING CROPS SUFFER FROM EXTREME HEAT Corn on Uplands and Thin Soils Hard Hit by Drought. Practically all growing crops throughout Indiana last week suffered from the extreme heat and lack of moisture, according to the weekly survey of the United States department of agriculture. During the latter part of the week temperature conditions were considerably improved and some relief was afforded where showers fell. Much corn, particularly on uplands and thin soils, has been hard hit by heat and drought. In the southwestern sections early corn has passed roasting ears and late corn is nearing that stage, with need of good rains important for proper filling. Field tomatoes are ripening early because of hot and dry weather, and considerable sun scalding is reported.

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PAGE 15

GRAIN FUTURES UNSETTLED UN NEWS REPORTS Wheat Prices Up Fractions; Corn. Oats Steady to Highe*. BY HARMAN \\. NICHOLS l nitrd Trc** Staff Corr< s jcmlf nt CHICAGO. Aug. 2.—News influential to the grain trade was mixed this morning and grain prices were mixed at the opening of the Chicago Board of Trade. Wheat started < to % cent higher. corn was unchanged to % cent higher, oats were unchanged to U cent improved, and rye was up 3 s to a cent. The middlewest remained generally without rain while the southwest was cloudy a..d received scattered showers overnight. Liverpool was strong with rains interrupting harvesting. Sentiment leaned to the constructive side the trade confident the private reports due this morning would be extremely bullish. Chicago Futures Range —Au*. 3Frfv. IVhrat— Huh Low. in DO clos?. Sept. 103', 1 02% 1 n-", 103% Drc 106 1 P4' ■ 1 04% 1 05% Mav 1 08% 1.06% 1 07% 1.07% Corn— R*pt 71% .70% .70% 71% Dff 74 s * 73% 7.3% 74% Mav 78% .77% 77% 78% Oats— Rppt 44% .46% 46' 46% r>PC 48% ,47% .47% .48 Mav .50 10% 49% 50 R/f Rapt 77 76 .76% .76% Drc 78% .78 78 .77% Bariev— Sept . . 61 Dec 63% .63% .63% .62% Above quotations are lor New Options. CHICAGO PRIMARY RECEIPTS —Au*. 1— Bushels— Todav. Last week Wheat 952.000 597,000 Corn 548.000 544,000 Oats 92.000 133.000

Cash Grain

INDIANAPOLIS —Auk. 1 The bids lor car lots of crain at the call of tho Indianapolis Board of Trade, f o. b. shippinK point, basis 17’jc to river. Wheat—St rone: No 1 red fl.’f'i'g 94'ic: No. 2 red. 92'if93'cC: No. 2 hard. 93'.a® 94 l ic. Corn—St rone: No. 2 white. 676'068c: No. .3 white, 66' i'ii 87c; No 2 yellow, SN ’_• 66r; No. 3 yellow. 64' •*/65c: No 2 mixed. 64'.a (& 65c: No. 3 mixed. 63 1 .■ !: i 64c. Oats —Strong: No 2 white. 43 1 244 44'ic: No 3 white. 42 1 ■4/ 43 1 jc. Hav—Steady: (F. o b. country points taking or les rates to Cincinnati or Louisville.) No 1 timothy. Sl3'a 13.50. —lnspections Wheat—No. 2 red. 8 cars: No 3 red. 2 cars: No. 4 red. 1 car: No. 5 red, 1 car; No. 2 hard. 1 car: No l mixed 2 cars; No. 2 mixed. 1 car: sample. 1 car. Total. 17 cars. Corn—No 2 wt ite, 5 cars; No, 3 white, 7 cars: No. 4 wife, 1 car: No. 2 yellow. 14 cars: No 3 yellow. 10 cars: No. 4 yellow. 3 cars. Tota'. 40 cars. Oats—No. 1 white. 2 cars: No. 2 white 4 cars: No. 3 white, 14 cars: No 4 white. 5 cars: No. 3 mixed. 1 car. Total 26 cars. Rve—No. 1. 4 cars. Total 4 cars. Local Wagon Wheal Citv Rrain elevators are paying 89 cents for No. 2 soft red wheat. Other erades on their merits. tßv United Press) CHICAGO. Aug I—Cash grain—Wheat —No 1, red, $1.0212© 1.03: No. 2. red sl.Ol f,i 1.03; No 3. red. $1.00>24/102. No. 1. hard, $1.06; No. . hard, $1.04'i1.05',- 2 ; No. 3. hard. $1,044/1.05; No. 4. hard. $1.02 fr/1.03'2: No. 5. hard. 99c. No. 1. mixed sl.Ol '-i'll 1.04'N0. 2. mixed. $1.014/1.04. No 2. red garlicky, 99c: No. 3 red garlicky. 97c'c. Corn—No. 2. mixed. 71c; No 3. mixed. 71c; No. 2. yellow, 70*24/1 71 1 2 c; No. 3 yellow 70'.2 4/71c; No. 4. yellow. 69' t 4,70c: No. 1. white. 7'nc; No. 2. white. 72U4/72',2: sample grade, white, 67' 2C. Oats No 3. mixed. 45c: No. 2. white, 47c; No. 3 white. 44'0/ 47': No. 4 white. 42'47 42'*.: sample grade old white. 44'io. R.ve —No. 1. 78r No. 2. 77’jC. Barley—Quotable, 584/94c. Timothy. sll4/) 11.50. Clover seed provisions-—Lard. $7.35; loose. $6.77; leaf. $6.75; bellies. $10.7. TOLEDO. Aug. I.—Grain close. (Grain in elev ators, transit billings*. Wheat —No. 2 red. $1.03 1 04 1 Corn—No, 2 yellow. 754/ 76c. Oats—No. 2, 78’ -}i79 , 2C. 'Track prices. 28'-c rate). Wheat—No. 1 red. 99*204/$1: No. 2 red, 98'.■'(/99c. Corn No 2 yellow, 70'.*4/ 71' a c: No 3 yellow. 704/70' .c. No. 4 yellow. fiOuOO' c. Oats No 1 white. 4R 1 ■4/ 50'2C: No. 2 white. 47'u48',2C; No. 3 white. 444t47',jc. ST. LOUIS. Aug I.—Cash grain: Wheat: In good demand, 1 to 2c higher; No. 1 red $1.00',: No. 2 red 99c4/$t early: sl.oo'. at close; No 3 red. 99c4/$l; No. 4 red. 98c: No. 1 red garlicky. 96c: No. 2/ red garlicky. 96c; No. 3 red. garlicky/ nS'/C: samole red grade garlicky. 93c; No. 3 red garlicky smutty. 99c: hard grades. DSl'ic higher: No. 1 hard. 31.07'.>: No. 2 hard. SI .06 'i 4/1.07 early: $ 1.07'3 at close: No. 2 light garlicky. 984, 99c; No. 3 light garlicky. 984/98'/C; No. 1 mixed. $1.04: No 2 mixd $1 06'2. Corn—ln fair demand lc higher; No. 1 mixed. 71'/4c; No 2 yellow. 71 3 ie: No. 3 vellow 71 ’c; No 5 vellow. 70c: No. 5 white 69e. Oat,3 —ln good demand ',2 to l ic higher: No. 2 w hite 46' 2 c: No 3 white. 454, 45' 2C. No. 4 white. 44c: No, 2 mixed, 46'/2®47c; sample grade mixed. 41c; No. 3 red. 45c. License Fees Increase By Timm Special SPRINGFIELD, 111., Aus?. 2.—Automobile license fees collected in the state of Illinois for the fiscal year ended June 30, showed an increase of $1,930,960, it was announced by the automobile department of the secretary of state's office. Reunion to Be Held Sunday The thirteenth annual Day and Reddick reunion will be held Sunday in Brookside park near Sixteenth street.

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