Indianapolis Times, Volume 46, Number 83, Indianapolis, Marion County, 16 August 1934 — Page 15

AUG. 16, 193 L

Wall Street Stock Commission Lenient in Some Respects. But Firm in Others. BY RALPH RF.NDF.RhHOT — Timrf **ecia| financial Writer

THF s**rurit ics and Exchange commission. the federal bodv art up to administer the Secunti's Exchange ar*. which was pas-wri by the la*’ conerevs. recently issued its rule*; and regulations pertaining 10 registration of securities. Mot-t of them had to do with formalities and little real significance is attached m them so far as

investors are concerned One regulation. however, was mad" w hich may tend to take the sting out of the law. It made it possible for corporate executives to segregate any part of the information they are obliged to furnish and to designate it

Hendershot

"confidential." The commission then will rule whether or not the information so designated may become public property. It is conceivable of course, that certain information should not be made available to the general public A rhemical company, for instance mich* be dome things which i should no? reach the ears of foreign competitor':. The director of a coneern might become financially embarrassed and be obliged to sell part rs his holdings. Any number of 1 Instances might arise in which it would be advisable for the good of every one concerned to withhold information. The commissioners should be well able to rule on these cases. mam BUT whereas the corn mission was inclined to be lenient in that respect, it put pressure on in another instance which should be of benefit to security holders. By requiring those who hold more than 10 per cent of the stock of any company to report purchases of sales of that company's stock it took away much of the advantage held by so-called insiders in security j dealings. From a practical standpoint, though, it is doubtful that more than a very small fraction of the facts which eventually will be filed by those roming under the provisions of the act will ever reach the attention of investors. Experience has shown in the rase of the federal securities act that some of the data filed with the authorities is just so murh literature to gather dust during the roming years. Portions of this material may be checked upon at some later date bv lawyers seeking to make cases for clients who lost money, but if it is found that everything is in order investors will have nothing to cover the cost of their carelessness or their inability to make proper appraisal of their investments. a m a IT is obvious that no rules or regulations or laws can be marie which will provide full protection to investors against loss. An example of this is to be found in the recent sale of Baltimore Ar Ohio notes. They were brought out at par and are currently quoted at less than 94. If railroad securities came under the provisions of the securities act the underwriters probably would be sitting on the anxious seat. This issue was approved by the Interstate commerce commission, and the reconstruction finance corporation agreed to buy such portion of the issue as was not taken by the public. There is no reason to believe that any one connected with the security sale acted in bad faith, yet any one who purchased a SI,OOO note in this case would stand to lose more than S6O if obliged to sell at present prices. INDIANA CROP GROWTH AIDEO BY HEAVY RAINS Precipitation in South Ranges from Three to Five Inches. Frequent rains during the week ended Tuesday greatly aided state crops, especially in the northern section of the state, according to the United States department of agriculture. The rainfall generally covered the state, with exception of the drought areas in the St. Joseph and Tippecanoe valleys. Some damage was done by the thunderstorms and wind guests which accompanied the rainfall Friday night. Com throughout the state, and especially in the south, where precipitation ranged from three to five inches, has been greatly aided. Field tomatoes are ripening in the south and are being picked m the central section. There have been many complaints. however, of cracking, and the extreme hot weather has reduced setting. Tobacco topping is reported in the south and mint stilling, with light results, is reported m the north. In the Cotton Markets —Au*. 15— CHICAGO H.sh. Low C'ose January 13 73 13 '5 13 73 March 13 ?s 13 S3 13 95 Biv *. 13 SO 13 73 13.90 Ortbher 13 56 13 33 13 56 December 13 70 13 49 13 70 NEW YORK January 13 M 13 49 13 CS March 13 79 13 SO 13 7* Mar 13 M 13 W 13*6 JulT IS 91 !3 73 13 91 Or'nb-r 13 4* 13 29 13 47 December 13 62 13 44 13.60 NEW ORLEANS January 13 61 IS S7 13 60 March 13 73 13 60 13 73 Ma' 13 73 13 6* 13 7* Juh 13 *4 Oc’eher 1J 44 IS JS 13 43 December IS 49 13 40 13 57 N. Y. Coffee Sugar Futures —COFEFE —Au. 15. Sanies H;eh. Low C'.oce March 11 1* 11 15 11. l( Mar 11.23 11.17 11.23 Julc 11 27 December 1120 11.04 11.14 ■tie Januarr • March * 49 8 37 * 43 Mar ... • It ,fulr *55 Splßt*r * 16 9.17 * 1* December ... 6.27 nrr.Aß —Au*. IS— Hich. Low. Cloee January l 60 March 1 9* 1 63 1 65 Miv 1.90 I*9 1 M September I.g December ...a 1-*1 X-M

STRONG TONE IN RAILROAD GROUP AIDS SECURITIES Gains Extend to More Than 2 Points: U. S. Dollar Irregular. BV ELMER C. WALZER Tun.* Special financial Writer NEW YORK. Aug. 16—Stocks were firmer today; cotton gained a few points: bonds were mixed and so was the dollar: gold and Silver prices eased in London; Liverpool wheat soared 3 cents a bushel in American equivalents. Strength in railroad shares aided the stock market in the early dealings. Traders bought in the belief the carriers would continue their efforts to block the new pension program. New York Central sold at 21'.-. up %, on 1.000 shares and then rose to 22. Chesapeake & Ohio firmed to 42%. up %; Atchison 48%, up %. and Southern Pacific 17%. up •%. Brooklyn-Manhattan Transit made anew high /or the year at 44, up a point. Utilities generally made ‘-mall gains. American Telephone rose to 111% in the communications. Crvsler gained nearly a point to 33%. Smaller advances were noted in American Can, Montgomery Ward, Soeony- Vacuum. Bethlehem Steel, Westmghou.se Electric, Sears-Roe-buck. Republic Steel and Dupont. American Radiator continued in demand in the building group. Silvers were fractions to a point higher. Trade volume was small, with prices rising. American Telephone extended its gain to a point. Union Pacific rose more than 2 points. Steel common firmed. United States Smelting was up nearly 2 points. Manhattan Railway made anew high for the year.

Money and Exchange INDIANAPOLIS BANK CLEARINGS, —Aur. 16— C.Far ncs • .. ......... $1,941 606 06 Debits 5.146.060.00 FOREIGN EXCHANGE ißv Abbott. Hoppin & Cos.) —Aug. la— Close. Sterling England * 5 * Franc France Oboo 1 . 3 Lira. Italv '* Belgias. Belgium "3‘l Mark. Germany 396, Guilder Holland 6853 Peseta. Spain 1381 Krone. Norway -J54 Krone. Denmark Treasury Statement ißv United Press) ■Bv United Pressi WASHINGTON. Aug 16 -Government expenses and receipts of the current fiscal sear to Aug 14. compared with the corresponding period of ihe previous fiscal year: This Yeat Last Year Expenses . $ 711.727.123 67 44.3,728.0R7 04 Receip'.s . 380 902,136 16 264.761.808 52 Deficit . 330 824.987 51 178.966.278.52 Cash Bal. 2.311 854 267 54 Investment Trust Shares (By Abbott. Hoppin & Cos.) —Aug. 15 — Bid. Ask. American Bank Storks Corp.. 100 104 American A: General Sec A.. 350 4.50 American A: Inv Tr Sh 1.75 •••• Basic Industry Shares ....... 297 3.01 British Type Inv Tr Sh 32 .40 Collateral Trustee Shares A . 412 43 1 Corpoiate Trust Shares iold> 184 190 Corporate Trust Share* inewl 2.10 2.14 Cumulative Trust Shares .. 357 3.62 Diversified Trust Shares A .. 625 Diversified Trust Shares B .. 687 Diversified Trust Shares C... 274 280 Diversified Trust Shares D.. 4.25 43 1 First Insurance Stork Corp .. .50 .87 Fust Common Stock Corp .. 52 .57 Fixed Trust Oil Shares A ... 725 .... Fixed Trust Oil Shares B ... 625 .... Fundamental Investors Inc... 1.75 193 Incorporators Investments •• 16.12 16.37 Land Bank Bond Shares .... 114 1.27 Low Priced Trust Shares .... 5.15 525 Mass Inv Trust Shares 17 87 19 42 Nation Wide Securities ... 2.95 3.00 North Am Trust Shares (53).. 1.76 . . No Am Trust Shares i55-56i.. 212 2.1. x North Am Trust Shares (58(.. 213 216 Selected American Shares •• 2.26 .... Selected American Shares Inc 102 1.12 Selected Cumulative Shares... 600 • • Selected Income Shares . ... 312 362 Std American Trust SharesA.. 270 274 Trust Shares of America .... 259 265 Trustee Std Oil A $25 537 Trustre Std Oil B 469 4.7 x U S Electric Lt A- Pwr A 11 12 11.37 Universal Trust Shares 2.72 2. i7 Daily Price Index ißv United Press) NFW YORK Aur 15—Dun * Bradstreet s dailv weighted price index of :hirtv basic commodities compiled for the United Press (1930-1932 Average 100) Today 118.14 Yesterday 118 50 Week Ago 119 19 Month Ago .. 114 55 Year Ago lAtig. 161 98 69 1934 High (Aug. 10) 120 02 1934 Low (Jan. 3i 101.05 Copvnght. 1934. by Dun A- Bradstreet, Inc Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers 4 25-cent carrying charge per ton will be added. DOMESTIC RETAIL PRICES Anthracite $13.50 Brazil Lump 5.90 Brazil Egg 5.90 Brazil M;ne Run 5.25 Coke. Nut Size 8 50 Coke. Egg Size 8 50 Indiana Forked Lump No. 4 and 6. 5.75 Indiana Egg 5-75 Kentucky Lump. Group ‘•B" 715 Pocahontas Lump 8.2$ Pocahontas Egg .. 8.35 Pocahontas Mine Run * .0 New River Smokless 8 25 FOUR AIR-CONDITIONING CONTRACTS AWARDED ProjecLs Include Pennsylvania Congressional Rooms. By Time* Special YORK. Pa.. Aug. 16.—The York Ice Machinery Corporation here has been awarded contracts on four large air-conditioning projects. Stewart E. Lauer. general sa' manager, announces. Tlje projects are: The assembly rooms of the senate and house of representatives in the Pennsylvania state capitol building at Hp— ’’urg; the Municipal Auditorium at Kansas City. Missouri; the May Departmest Store at Baltimore. Md., and the new building of the S A* W cafeteria in Washington. D. C.. with a capacity of 1.000 persons. The contract for the work at the Pennsylvania state capitol building, which was awarded to Mehring & Hanson Cos., general contractors provides for all equipment to be used in the installation of the airconditioning system. On the Kansas City project the York Company will furnish refrigeration machinery with capacity equivalent to 1.000 tons of ice 24 hours under a contract awarded by the United States Engineering Company. general contractors. Pay On Accumulations By Times Special NEW YORK. Aug. 16—Dividend accumulation on the 7 per cent preferred stock of Lehigh Portland Cement Company were reduced to $7 this week with the declaration by directors of a disbursement of 87 % cents • share on the stock.

New York Stocks ' B Abbott Hoppln * Cos ————

AVERAGE STOCK PRICES FOR WEDNESDAY N>t High. Low. Close, change. Thirtv industrials 91 TO 90.62 91.00 -.12 Twenty rail* 35.21 24.21 24.62 - .24 Twenty utilities 30.37 20.06 20.16 —.07 Forty bond* •••■ 92.54 -.34 Ten first rails .... 100.32 - ..>0 Ten semnd rails .... 74.62 Ten utilities .... 98.41 -.27 Ten industrials .... 96.81 i .08 -I p. - Off.

—Aur IS— Prev. Oil*— High. Low. 10 00. close. Amend* ... 4* At: Rfg 25% Barnsdall Consol Oil 9 Coni of De! 18’ i 18S Houston ioldi IS 1 * Mid Cont Pet Ohio Oil 10% 10 7 . Pet Corp 10',* Phillips Pe' 16% 17 Pivmotrh Oil .. .. ... 9 1 * 9 * Pure Oil S'* 8 1 • Sbd Oil 28 Shell Un 7% Soc Vac ... 15*a 15 S O of Cal . 35 1 2 35 SOOf N J 44% 44% 44% 44% Sun Oil 63 Texas Corp 23% 23_j Tidewater Assn 10% 10% Un Oil of Cal Steel*— Am Roll Mill* 17% 16% Beth Steel 27 26% i Bver* AM }% , Ludlum Steel 12% 12% Mid Steel J % Natl Steel 38% Rep I Ac St 1 I* 13% U S Pipe & Fdv • • 19 U S Steel .. 34 33% 34 33 2 V S Steel pfd <9% i9% Warren Bros ' Youngsn S&T .. ••• 16 a 16 Motors— Auburn , 20% Chrysler Gen Motors 29% 29% 29* 29 * Gen Motors pfd .. ... 101 101 Graham Mot J * Hudson . * Hupp 2 2 * Mack Truck *5% Nash 18% Packard ••• ••• J ■ Reo 2 2 Studebaker 2 Yellow Truck ... 3% 3% Motor Acre** — Bendix ••• ••• lj‘% Bohn Alum ... . •• • 58 Bore Warner ... 20% 20% 20'* 20 ? RriRCS 17% 17% Budd Wheel 2% Eaton Mfg ~ 18% Elec Auto Lite. •• ... 18% 18% Houdaille A ... .. ... ... 3 * Murray Body.. .. ... ... 5% Stew Warner 5% Timken Roll • ■ 28 27% Timken Det Axel .. 6 Mining— Alaska Jun 20% 20% Am Smelt . 38 37 Anaconda 12% 12 * 12% 12% Cal & Hecla ... . 3% 3% Cerro De Pasco 40% 80% 40% 39% Dome Mines 84 Gt Nor Ore ■ 18'a Howe Sound ... 53 52% x3 52 * Int Nickel 25 25% Isl Creek Coal 29% Kennecott Cop ... ... 19 s * 19% Mclntyre Mine . . - . 88 Noranda Cop •• 84% 44% 44% 44 Park Utah 16% Phelps Dodze J”'* St Joe Lead ... ■ 18 * U S Smelters .136 135 136 134% Vanadium ••• 17% 18 2 Amusements— Loews Inc 27 26% 27 26% Radio Corp •>.* RKO .. . ... ••• 2% Warner Bros .. 4% 4 4% 4 Tobaccos— Am Snuff 61% Am Sum Tob 19% 19% Am Tobacco A' 75 73% Gen Cigars 4l_* Lorillard .. ••• • ■ ]7 * Reynolds Tob B' .. ... 45% 45,4 Rails— Atchison 49% 48% 49% 47% All Coast Lines 29% 29 29% 28 r B& O . 16 15% 16 15% Can Pac 13% 13% 13'8 13 * Chi Ar Gt W pfd ■ 4% C M Ar St P 33% C M Ar St P pfd C M Ar St P 33% C M Ar St P pfd 9% Chi N W 6% 5% Chi N W pfd 10 Dela Ar Hud .. ■ ••• ?2, Del Lac &W .. 16’* 16% 16% 16% Prip nfd • m Grt North pfd .. 15 14% 15 14% 111 Central . .16 * 18% 16 * 15 t Lehigh Valley 3 J*'* M K Ar T 8 " N°Y P Cen? fd 22% 21% 22 21 4 NY C A: St L pfd 21 N Y New Haven iota Norfolk & Wes Nor Pac 1 * 2 n 2 Penn R C R 23% 22% 23% 22% Sou Par IT'* 17% 17% 1 Sou R R Pfd .. 19% 18% 19 % 1? Sou R R la's 14% 15% 15% Union Pac .98 97% 98 3 West Maryland 9% 9 Equipment*— Allis Chalmers 13 12% Am Brake Shoe. .. ... 23% 22 * Am Car & Fdv Burroughs H * 11 * H * 11/* Case J I 41 40% 40% 39% Cater Tract . ■■■ f] * Deere & Cos .. 14% 14% 14% 14 * Foster Wheeler . • ■ „ J*,* Gen Am T Car .. 31 30% 30% 30% Gen Elec 18% Gen R R Sig 28% Ingsol Rand - ••• .2% Int Bus Ma •• Int Harves 27 26 7 * 27 26 2 Natl Cash Reg * Pullman Inc 41% ti 2 Rem Rand • • ■ _”, K Westingh Elec .. 33 32’* 33 31 * Worth Pump JS 3 Utilities— Am Ar For Pwr 6% Am Pow Ar Lt 4% 4% ATA- T 112' * Ill’s 112',4 111 % Am Wat Wks ••• 17 Brook Un Gas .... ... 3 8 4 Col Gas A: El ... . ••• . % ? Com Ar Sou I** 1 l** n l, R Consol Gas ... 27’* 2. Elec Pw Ar Lt .. .. ... ••• a;* E P Ar L pfd 8% Nor J 3 * Pac G& E 15% 15% Post Tel pfd 14 14 Pub Ser N J 32% 32% So Cal 13% 13% Std Gas 7% 7% Std Gas pfd f * Stone Ar Webs .... 6* United Corp , ’ I Un Gas Imp >* < ” * Western Union 3a'* 34 Rubbers — Firestone 16% 16 16% ... Goodrich 10% 10% 10% 10% Goodyear 23’* 23 23 * 2.Kellv Spring ... • ■ * U S Rubber 16* 16’* 16'* 16. U S Rubber pfd 38% 3i 38% 36 * Miscellaneous— Am Can 94% 96% 97% 96% Brklvn Man Tr .44 43 * 44 43 Conti Can 79% 80 < ! Curtis Pub 1<• * Curtis Pub pfd *8 Eastman Kodak - 98 2 Gillette H% 11% ! Glidden J 4% Inter Rapid T.. •• ••• •. H * Owens Bottle ... 12% 11% 12* . Raybestos Mfg . 18% 18’* 18 * 18% Fond*— Am Sugar • • 67% 67% Armour 6% 6% 6 % 6% Beatrice Cream. 15% 15* 15% ln% Borden Prod , 25% 25% I Cal Packing . 4039 7 40 39-’ ; Can Drv C Ale 15% ; Coca Cola 135 Cont Bak "A"... • . ,*% Corn Prod ... 56% 56’* 56 * 56% Crm of Wheat 32% Cuban Am Sugar 7% .■-* Gen Foods 29% 29% Gold Dust . 17’* 17% G W Sugar 33 32% 33 33, 1 Int Salt 29 Loose Wiles .... 40% Natl Biscuit .... 33% 33% 33% 32 s * Natl D Prod 17 17% Puritv Bak . 10% 10% S Porto Rico S 35 Spencer Kellog . . 25% 25% Std Brands . 19% 19% 19’* 19’* United Fruit 71% Retail Store*— Ass Drv Goods. .. 10!a First Natl Stores 64 Gr Vu Tea 5% Hahn Dept Sts. 4 Jewel Tea 45 Kresge SS • I*4 Kroger Groc 28'* 28'* 28 5 * *.9 4 Marshall Fields . • 10% • Mont Ward —. 23% 22 * 23 -- Penny J C 58 Sears Roebuck . • ?*. Woolworth ... 50% 49 3 * 50 * 49 * Aviation— Aviation Corp 4_ 4% Curtiss Wngnt 2 3 * 2* Curtiss W.’.ght A Douglas Air ••• * Nor Am ■’ * • Speerv Corp •• .... *, ~%* United Aircraft 16% 15% 16% 15 * Wright Aero 46 Chemical* — Air Reduction *9 Allied Chem 12F* 137 Am Com Alcohol 26% 25% 26 * Cal Carbon , • , *. ™ t Com Solvents.. l!La Du Pont ... 89% 88% 89’*. 88 • Freeport Tex 79 Liquid Carb .... • 21 Math Alkali ••• 28 2B 28 * Natl Dis mewl.. 19* 19, Schenlev Dist .. 10 * 20 . 20 * 20;a Tex Gulf Sul ... 33 32% 32; 3- • Union Carb -. 42 41 5 * 41- *1 U P Indus Alco 3. • Vir Chem 6% pfd ••• 15 I>rgs— Lambert *4 Un Drug I*% Finanria!— Adams Ep 7 6’* *% Alleg Corp 3Am Int Corp •• ' % Transamerica ... 6 5 7 6 5 Tr Conti Corp 4% Building— Am Radiator ... 13% 13% 13% 13% I Gen Asphalt .... . 18'a 16% Int Cement 23% 23% 23% 23% Johns Many 44 *

THE INDIANAPOLIS TIMES

Libby Gw Gls .. .. ... 28% 28% Otis Kiev 15 Household— Cos: Pet P*et 14% 14% 14% 14% Congoleum 27% 2<% Kelvinator 13% 12 s * Proc Ar Garnb 37 . • Simmons Bed ... 10 * Textile!— Amer Woolen .... *.. ... 9 Belding Hem 12 Celanese Corp . 21 Collins Aik 12% 12% Gotham Hose *SB Indus Rayon ..... ... ... 22% Kayser Julius ... 14% New York Curb (By Abbott. Hopein Ar Cos.) —Aug. 15— Close- Close Alum Cos of Am 55 Imperial iOl Ltd 15% Am & F Pwr W 4 Hud Bay Min.. 14% A Cyanide 181 17% Int Petrol . .. 28% Am Gas <fc El 21% Lake Share Min 54% Am Superpower 7% Libby McN Libby 7% Asso Gas & El. s 8 Lone Star Gas 5 Carrier Corp .. 9% Natl Bellas Hess 2% Cities Serv ... 1% Newmont Min .. 46% Com nwealth E. 48 Nia Hud Pwr.. 4% Cord Corp .... 3% Novadel Agene.. 21 Creole Petrol.. 12%Fark Davis ... 24% Deere & Cos ... 14% Penn Road .. 2 Distillers Corp 12% St Regis Paper.. 2% El Bond Ac Sh . HUSherwin Wms . 70% Ford of Can A 20 Std of Ind .... 26% Ford of Europe 8% Std of Kv ... 15% Glen Alden Coal 19% Hughes Gold .. 7 Gulf Oil of Pa 57 s * Un aGs ... 2 Hiram Walker 24% Un Pwr &Lt A 1% Humble Oil 43 Wr Hargraves M 9%

Chicago Stocks (By Abbott. Hoppln & Co.> '

—Aug. 16— High. Low. 11:30 Bendix Aviation 13% 12% 13% Berg Warner 20% 20% 20% Butler Bros 8% 7% 8% Chicago Corp.. pfd 25 Cities Service .• 1 % Commonwealth Edison.. 48 47 48 Cord Corp 3'.* Electric Household .... General House Util 10 9% 10 Iron Fireman • ■ 14 Libby-McNeil 7% 7 7 * Quaker Oats 118 117 IJJ, Swift Ac Cos 18% 18% 18% Swift International .... 37% 36% 37% Vortex Cup Cos ••• 14% Walgreen Cos com 25

Bond Prices Bv Fenner & Beane

—Aug. 16 High. Low. 19:00 Alleg Corp 5s 'SO . 28 Am & For Pwr 5s 2030 50 49% xO AT & T db 5s ’65 ... 68 Atchison gen 4s 95 ...102% 102 102% B&O cv 4%s '6O 57% 56% 57% Can Pac 4s •• 78% CMSP&P adj 5s A 2000 8% 8% 8% CMSP&P rs 5s A '75 30% 30 30% Cons Gas N Y 4%s ’sl lOp 4 Denmark 5%s ’55 89 88 88 Det Ed 5s E '52 , 107% Erie RRrf 5s '67 .... 66 65% 66 Goodyear 5s '57 101 100% 100% Gt Nor 4%s D '76 ■ 68 Gt Nor 7s A '36 89% 89 89% Interboro RT 5s 66 .. 75'* 75 75% Int T&Tdb 5s '55 . 57% 57% 57% McKess & Ro 5%s 50 80 79% 79 2 Nat Dairy db 5%s '4B . 98% 98 98% N Y Cen' 4%s 2013 65% 65% 65% Nor Am 5s ’6l 85 Pac GAj Elec 5s A >2 107 106’* 106’* Penn R R 4%s D 'Bl 95% Poland 7s '47 . 118 Sin Cons 6%s B '3B }22," Texas Corp 5s '44 }O2 * Un Pac Ist 4s '47 106’* 105% 105% U S Rubber 5s A '47 .. 83% 83 83 Western Un 5s 51 82% V. S. GOVERNMENT BONDS (By United Pressl NEW YORK. Aug. 15—Closing Liberties (Decimals represent thirty-seconds); —Liberty—--3%s (32-47) • 188 20 First 4'<s (32-47) 103.12 Fourth 4'/is (33-38) 103.2a Treasury—4',s 3'*s (45) 102.25 4%S (47-52) 112.2 3%s (43-47* !2H? 3%s 1 41-431 March 1n 4.11 3’*s (40-43) June }9li 0 3'*s (43l 104.7 3%s (46-49) 101.24 3s (51-55) 100.22 FEDERAL FARM LOAN BONDS (By Blvth A: Cos.. Ino.) —Aug. 16— Bid. Ask. 4s July 1. 1946-44 98% 99% 4s Nov. 1, 1957-37 97% 98% 4s Mav 1, 1958-38 97% 98% 4%s July 1. 1956-36 96% 99% 4%s Jari. 1, 1957-37 99 99% 4%s May 1. 157-37 99 99% 4%S Nov. 1, 1958-38. 99'i 4%s May 1. 1942-32 99 99% 4%s Jan. 1. 1943-33 99 99% 4%s Jan. 1. 1953-33 98% 99% 4%s July 1. 1953-33 98% 99% 4%s Jan. 1. 1955-35 99 99% 4%s Jan. 1. 1956-36 99 100 5s Mav 1. 1941-31 100% 100% 5s Nov. 1, 1941-31 100% 100% —Home Loan—--3s Mav 1. 1952-44 99.10 99.14 4S July 1. 1951 99.20 99.24 —Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 100.28 101.06 The three latter quotations are in thirtyseconds. New York Bank Stocks (Bv Abbott, Hoppin & Cos.) —Aug. 15— Bid. Ask, Bankers 28 88% Brooklyn Trust 85 88 Central Hanover 124 124 * Chase National 24% 2x * Chemical 39% 46% Continental 4 l 3 ‘ Corn Exchange 45 * 45 8 First National 1-520 1.535 Guaranty 3 ?lc ,s> Irvine 15% lg 3 Manhattan A- Cos f7 * -8 * Manufacturers 19 3 liL" National City 22* 23 * WHEAT STOCKS TOTAL 1,>40,000.000 BUSHELS World Supply on Hand Aug. 1 Shows Increase Over 1933. By United Press LONDON. Aug. 16—The international meat conference announces that world stocks on Aug. 1 totaled 1.140.000.000 bushels, compared to 1,120.000.000 bushels on Aug. 1, last year. The average of world stocks on Aug. 1 from 1922 to 1928 was 625.000.000 bushels. The communique revealed that abandonment of international efforts to adjust the supply of wheat to the effective demand, in the opinion of delegates, will lead to an accumulation of burdensome surpluses if there is a normal yield in 1935. The committee was informed that although drought in the United States, an expected small crop in Canada and Australia, and a moderate crop in Europe, will lead to a substantial reduction of the surplus in the present cereal year, nevertheless stocks in August. 1935, would be above the normal average for 1922 to 1928. INSURANCE SALES RISE New Business Climbs 14.5 Per Cent in First Ses'en Months. By Times Special NEW YORK. Aug. 16—An increase of 14.5 per cent in new life insurance business during the first seven months of thus year is reported by the Association of Life Insurance President. New business during the period amounted to $5 143 - 946.000 as compared with $4 492.539.000 in the corresponding 1933 period. New ordinary insurance durtng the period amounted to $3,361,221.000 as compared with *3.003.995.000 in the first seven months last year. The figures are exclusive of revivals, increases and dividend additions.

SWINE VALUES RISE 35 CENTS; CATTLE STEADY Lamb Market Strong to Higher: Veals Drop Sharply. Combination of extremely light receipts and heavy buying pressure continued to boost porker prices into new high ground in early trading at the Union Stockvards today. Initial prices generally were around 25 cents higher than yesterday's average, while few lightweights were 25 cents up. Reports of sharp increases in hog prices were received from various markets. The bulk. 160 to 200 pounds, was selling at $6.20 to 56.30, while heavy kinds, weighing 200 to 300 pounds, brought $6.30 to $6.35. Few choice grades sold at $6.40 to $6.45. Slaughter pigs, scaling 150 to 160 pounds, were salable at $5 to $550. Other classes, weighing 100 to 130 pounds, sold at $3.75 to $4.75. Packing sows ranged from $4.25 to $5.25, with top holding at $5.50 Receipts were 4.500; holdovers. 223 Trading was fairly active in the cattle market and prices were generally steady. Early sales of most steers ranged from $3.50 to $6.75. while heifers sold at $5.50 down. Few choice kinds brought $6 50. Receipts numbered 600. Extreme weakness was evident in the veal market, with prices mostly 50 cents to $1 lower than the previous close. Bulk of good and choice grades was selling at $6 to $7. Receipts were 600. Early sales of lambs were strong to 25 cents higher, with ewe and weather kinds salable at $6.50 to $7. Bucks were discounted sl. Throwouts ranged from $3.50 to $5. Receipts were 600. Hog prices at Chicago were sharply 20 to 30 cents higher than yesterday. Bulk of 200 to 300 pounds, sold at $6.50 to $6.40. Receipts were estimated at only 12.000, including 6.000 directs and 1.000 holdovers. Cattle receipts were 7.000. including 4.000 government; calves. 4,000, including 2.000 government; market slow. Sheep receipts 4.000; market slow.

Aug. Bulk. Top Receipts 10. $5.30(0 5.50 $5.65 4,500 11. 4.30® 5.50 5.65 1.000 13. 5.40® 5.60 5.80 4 000 14. 5.55® 5.75 6.00 5 nrn 15 5.75©' 5.95 6 10 4.000 16. 6.20© 6.30 6.45 4.500 Market, Higher. 1 130-1601 Good and choice .. $ 5.25© 5.50 —Light Weights— G6O-180' Good and choice ... 6.20 1180-200' Good and choice ... 6.25 —Medium Weights—-(2oo-2201 Good and choice 6.30© 6.35 1220-250) Good and choice ... 6.30© 6.45 —Heavy Weights—-(2so-2901 Good and choice ... 6.35© 6.45 (290-350' Good and choice ... 6.25© 6.35 —Packing Sows—(3so down i Good 5.00© 5.50 (250 lbs. I Good 4.75© 5.25 (All weightsi Medium 4.50©. 5.00 —Slaughter Pigs—-(loo-130) Good and choice ... 3.75(0 4,75 CATTLE Receipts, 600; Market, Steady Good and choice $ 6.50(0 8.75 Common and medium 3.00©) 6.50 (1.100-1,500) Good and choice 7.00(0 9.00 Common and medium .... 5.00©| 7.00 (550-750) — Good and choice 5.00® 6.75 Common and medium 2.00(0 5.00 (750-9001 Good and choice 5.00® 7.00 Common and medium 2.00® 5.00 —Cows— Good 3.00® 4.00 Common and medium 2.25® 3.00 Low cutter and medium 1.25(g) 2.25 Bulls (yearlings excluded) Good (beef steersl 2.75® 3.50 Cutter common and medium.. 1.50(0 2.75 VEALERS Receipts, 600; Market, Lower Good and choice $ 6.00® 7.00 Medium 4.50© 6.00 Cull and common 2.00® 4.50 —Calve*— Good and choice 4.50® 5.50 Common and medium 2.50® 4.50 —Feeder and Stocker Cattle— Good and choice 2.50® 5.00 Common and medium 2.50® 3.50 (800-1,5001-Good and choice 3.50® 5.00 Common and medium 2.50® 3.50 SHEEP AND LAMBS Receipts. 600: Market. Higher Lambs. 90 lbs. down, good and choice $ 6.50® 7.00 (90-110 lbs.) Good and choice 6 00® 6.75 <9O lbs. down) Com. and med. 4.00® 6.00 —Ewes— Good and choice 2.00® 3.00 Common and medium I.oo® 2.00 Other Livestock (Bv United Pressi CHICAGO. Aug. 16.—Hogs—Receipts. 12,000, including 6.000 direct and 1,000 holdover; market, fairly active: above 200 lbs. mostly 30 to 40 cents higher, lighter weights, 20 to 30 cents higher: packing sows, 15 to 25 cents higher; top. $6.50: bulk desirable packing sows. $5.25© 5.50: light lights. 140-160 lbs., good and choice, $5.15© 5.85; lightweight. 160-200 lbs., good and choice. $5.65©6.30: medium weights. 200-250 lbs . good and choice. $6.20© 6 50: heavyweights. 250-350 lbs., good and choice, $6.15® 6.50; packing sows. 275-550 lbs., medium and choice, *4.30© 5.60: slaughter pigs, 100-130 lbs., good and choice. 53.9041 5 25. Cattle—Receipts. 4,000 commercial. 3.000 government. Calves—Receipts. 2.000 commercial. 2.000 government: few medium weight steers strong to 25c higher; market slow on all yearlings, trade ruling about steady after recent declines: slow market on common grade and light cattle, feeder steers and heifers; cows generally steady to strong: bulls. 10c to 15c higher: vealers 50c higher: best weighty steers. $9.25. long yearlings $8.60. bulk $7.25 down to $6 with the grassy kind $5 down to $3. Slaughter cattle ana vealers: steers. 550900 lbs., good and choice, $5.50©8: 9001.100 lbs., good and choice. $5.75©9: 1.1001.300 lbs., good and choice. s6© 9.50: 1,3001.500 lbs, good and choice. *6.75® 9.50; 550-1.300 lbs., common and medium. $2.25® 6.75: heifers. 550-750 lbs., good and choice. $4.50© 7: common and medium. *2.25© 4.50; cows, good. $2.75©4.25; common and medium. $2©2.75; low cutter and cutter. $1.25®2; bulls yearlings excluded, good beef. $2.75©3.50: cutter, common and medium. $2©3.25 vealers. good and choice. *5.75©7; medium. $3.50© 5.75: cull and common. $2.50© 3 50. Stocker and and feeder cattle: steers. 550-1.050 lbs., good and choice. $4.25© 5.25: common and medium. $2.50© 4 Sheep—Receipts. 4 000; fat lambs, slow: bids and few sales fully steadv: earlv top. $7.10: bulk and choice natives. $6.75: range lambs and yearlings absent: sheap. steady: native ewes. s2© 2 75. Slaughter sheep and lambs: $6©7.10; spring lambs, good and choice. $4.25© 6: ewes. 90-150 lbs., good and choice. $1.50© 2.50 Feeding inlambs. 50-75 lbs., good and choice. *5.50© 6. LAFAYETTE, Aug 16 —Market. 25 ar.d 45 cents higher 200-300 lbs. $6 15©6.25; 180-200 lbs , $6: 160-180 lbs.. s6© 6 05: 140160 lbs. *s© 5.25: 125-140 lbs . $4 50© 4 75. 115-125 lbs.. s4© 4.25: 100-115 lbs. s3.sori 3.75. roughs. $5.25 down. Top calves. $6. Lambs. $6 down. FT WAYNE Aug. 16— Hogs. 25 cents higher: 250-300 lbs $6 40. 200-250 !b< $6.25; 180-200 lbs . $6 10: 160-180 lbs. *5.95: 300-350 lbs.. 610 150-160 lbs.. $5.25: 140150 lbs. $5 130-140 lbs 4 75. 120-130 lbs $4 25; 100-120 lbs.. $4: roughs $4.50: stags. $3 50. Calves. $7. Lamfls. $6.75. Announce “5-Cent Payment Bn Times Special NEW YORK, Ausr. 16—A quarterly dividend payment of 75 cents a share on the company's common stock was declared this week by John Morrell & Cos.. Inc., the third consecutive quarterly payment of that amount. The dividend is pavable Sept. 15, to holders of record Aug. 25. Drought Blamed for Index Rise By / met Special CHICAGO. Aug 16.—Effects of the drought and not inflation buying is attributed to the rise in Moody's index of staple commodity prices to the highest level since the beginning of* the recovery, carrying it to 151.1 on Aug. 10.

Government Regulations Clamp Down on “Insiders’

Stock Commission Demands Monthly Report of Operations. BY RICHARD L. GRIDLEY 1 nitrrt Prf* Financial Correspondent WASHINGTON. Aug. 16— New government regulations strike sharply at insiders who deal m securities of their own corporation without regard for the effect of such transactions on ordinary stock holdings. Stpdy of the rules laid down by the securities and exchange commission show that operations of insiders and all large dealings must be reported to the government agency. Monthly reports must be filed with the commission and the stock exchange of any change in the stock holdings of an officer or director in a company or any change in the holdings of any person if they amount to as much as 10 per cent of the outstanding issue. * These reports will be required after Nov. 1 and are presumably aimed at facts revealed by the recent senate stock market investigation which brought to light sensational dealings of such character among some Wall Street "insiders. Testimony Is Recalled Officials recall testimony before the senate banking and currency committee to the effect that Albert H. Wiggin, former head of ihe huge Chase National bank of New York, had unloaded large blocks of stock in his own bank unknown to other officers. A similar case within a large New York corporation also was recalled. Other protective rules are contemplated by the commission on the basis of' extensive data to be obtained from the results of a questionnaire submitted to stock exchanges. Application for registration of the exchanges is accompanied by provisions that the stock exchanges shall aid the federal government in stamping out evil stock market practices and helping to enforce the security control program. Chairman Joseph P. Kennedy ot the securities and exchange commission stressed, however, that operations of the government's securitycontrol program and setting up of ‘•safeguards” for investors is no guaranty against losses to investors. Exhibiting a stack of letters, Kennedy revealed the commission had been bombarded with messages from investors seeking assurances that they will not lose money on securities they now own. He said fluctuations would continue in the stock market because of natural conditions and that the securities commission would merely stop manipulation of prices. He said operation of the commission was in no mannpr a guaranty ot either a rise or fall in an individual security or group of securities. Law Effective Oct. 1 It also became known that few securities now listed on the exchanges would be dropped from trading when the law becomes effective Oct. 1. in spite of the fact that all listed securities are re0n Commission Row —Aug. 16— Quotations below are average retail prices being offered to buyers bv local commission house dealers. Apples—Fancy Delicious. $2 25: Transparents, $1.50(0 1.75. Peaches—lnidana. Elbertas. bushel. $2.25 ©2.50. Plums—ltalian, % bushel, $1.50. Oranges—California Sunkist. $5.25: Valencies, $4.75. Lemons —Sunkist,. $6.50(06.75. Grapefruit—Florida seedless. $4 25(04.50. Cantaloupes—lndiana, bushel. $1.&1.50. Pears —Caravos. $2.50 a box. Watermelons —25 ©SO c. Bananas —Pound. 5c —Vegetables— Sweet Corn—Home grown, dor . 20c. Cabbage—Eastern, 2%©3c a pound. Celery—Michigan, boxes. $1.25: medium dor., 4§c. Onions—Washington yellow. 50-lb. bag. $1 65; California whites. $2 25: homegrown, $1.25(01.50. Potatoes—Eastern Cobblers. 100-lb. bag. $185: Kentucky Cobblers. $1 60: Idaho Russets, 100-lb. bag. $2. Sweet Potatoes—Tennessee Nancy Halls. $2 25: New Jersey, Alabama, $2.50. Beans—Round stringless, bushel. $2.50: flat stringless. bushel. $2. Beets—New. 30c a dozen Carrots—Home-grown, bushel. $1.50: doz.. 35c. Cauliflower—lOc-lls. crate. $1.75 <O2. Lettuce —Outdoor. 15-lb. basket. 85c; head lettuce, crate. $4(04.50 Peas—California, hamper. $2.70 Radishes—Ohio. doz. bunches. 50c. Spinach—Home-grown, bushel, 65c Tomatoes —Home-grown, 10-lb. baskets. 35c; bushel. *l. CHICAGO FRUIT MARKET IBv United Press 1 CHICAGO. Aug. 16.— Apples—Michigan Duchess bushels, 85 b, 90c. Cucumbers— Michigan bushels. 50c051.25. Tomatoes — Illinois bushels-. 400 75c. Sweet potatoes .—Tennessee bushels. $1,501.75. Peaches — Georgia bushels. $1.50(0 2.50. Lettuce— California bushels. $3(>,3.50. Beans —Illinois green bushels. S2(O 2.25. Cabbage — Wisconsin crates sl<o 1 35. Cherries— Michigan. 16 quarts red sour. $1.75© 2. Cantaloupe—Michigan crates. 65c©51.00. Corn —Illinois sacks. 4 dozen yellow. 2o'n 85c. Carrots—California crates. $24,2.50. Peppers—lllinois bushels. $1©1.50. Eggplant—lllinois bushels. $1 © 1.15. Pears— Michigan bushels. $1(0 1.75. CauliflowerWestern, $1©1.40 Onion market (50 lb. sacksi: California yellows. $1.10®1.15; whites $1.5007; Washington Valencias. $1.150 1.25; Indiana whites. $135. Produce Markets Delivered in Indianapolis orices: Heavy hens, 11c Leghorn hens, Bc. 1934 broilers. 2 lbs. and over, 13c Leghorn broilers 1% to 2 lbs. and over 11c bareback broilers 10c: old roosters. sc. ducks and geese. 3c; voung guineas. 20c; old guineas. 15c: No 1 strictlv fresh country run eggs, loss off 15c. Each full case must weight 55 lbs. gross; a deduction of 10 cents a Dound ror each pound under 55 lbs. will be made. Butter—No. 1. 300 31c. Butterfat, 23c Quoted bv Wadlev Company. (Bv United Press) CHICAGO Aug. 16 Eggs Market steady; receipts, 4.278: extra firsts. 20%c. fresh graded firsts. 19%c; current receipts. 160 18c; dirties. No. 1. 16c; No. 2. 12c; checks 15c Butter—Market steady; receipts. 11.070: extra firsts (90-91% score'. 24 %4,25 %c: extra '92 score'. 25%4,25%c: firsts '88%89% score'. 24©24%c seconds 'B6-87% score'. 22®23c: specials. 27%<0 27%c Poultry—Market steadv: receipts. 2 cars and 30 trucks 1 car due: fryers 14®16%c: broilers. 14© 15c: Leghorns. 13%c: geese. 7® 8c: turkeys. 14c: old roosters. B%c: hens. 13© 15c: black chicks, 10© 12c: barebacks. 13c: cocks. 8c; Leghorn cocks. 9c colored springs. 16c; white rocks. 17©18%c: P]vmoul*i rocks. 19c ducks 8© 12%c: colored Plymouth rocks. 16c Leghorn.*-. 10c Cheese—Twins 13% ® 14c Longhorns. 14%©14%c: Daisies 140 14%c. Potatoes —Supply light; trading moderate market steady: Idaho Russet $1.57%® 1.65. Idaho Triumphs (showing decat 1 SI 40: combination grade, $1 30. Wisconsin Cobblers. $1.35; Wisconsin Triumphs SI 65 Washington Russetts. *1.50 New Jersev Cobblers. SI 45 Arrivals. 48 on track. 105 shipments. 298 NEW YORK Aug. 16—Potatoes—Steady; Long Island. 40c©*1.10 bag: New Jersey. 30c® $1 bag Sweet potatoes—Dull: southern bb! S2O 5: southern basket. 50c© $2 Flour—Ease: springs: patents. $7 700 7.90 bbi Pork—Steady: mess. 819.75 bbl Lard Firm middle w est, spot $6.05© 6.15 a 100 lbs Dressed Poultry—Firm turkeys lay, 32r: chickens. 9© 28c: broilers. 15© 22c capons 25035 c fowls 9© 19c. duck' 10®13%c: Long Island ducks 11’*® 13c. Live poultry—Firm: geese 6©7c turkevs 104,15 c roosters. 10c: duck* B©l4c; fowls 144,19 c chickens. 234,25 c: broilers. 14© 23c Cheese —Firm: s'ate whole milk fancy to specials 180 18- r Young America. 15© 15%c Butter—Receipts. 13 402 packeee-- market firm creamers hieher than extras 28%©29%c: extra '92 score'. 28%r firsts 90-91 secret. 2*4,28c firsts 1 88-89 score'. 24%©25%e seconds. 23%© 24c Eggs- Receipts. 14,956 cases: market steadv special packs including unusual hennerv selections 240 26%c: standards 22 0 23c firsts. 21c seconds 194, 19%c: mediums 18%c dirties. 18%c: checks. 164,17 r CLEVELAND Aue 16—Butter—Market •teady: extras 31c: standards. 30%c. Eggs—Market steady, extra white 23c; current receiots 18c ordinary firsts. 14c Poultry—Market firm on fowls, weak on springers; colored fowls. 4% lbs. and up 16c; old roosters. 10c: ducks, white. 5 lbs. and up. 13c Potatoes—Long Island. a 100 lb. bag.

quirrd to be rreistrred with Uv coir.mission by that time. Issuers of domestic securities, in most cases meaning the corporations themselves, are required to register their securities under a temporary plan until June 30. 1935. After that date a permanent plan of registration is expected to be worked out. In the cases of certain securities, as those of bankrupt corporations and foreign corporations and governments. provision is made for their registration with the commission by the exchange on which they are listed. Under this plan, security commission officials hope that mast of the present listed stocks will continue to be traded.

CHINA MAY REDUCE IMPORTS OF COTTON Crop Estimated 15 Per Cent Above Last Year. By L nitrit I'nsx SHANGHAI. Aug. 16.—Preliminary estimate of a cotton crop of 3.047.000 standaid bales and a wheat harvest of 850.000.000 bushels, indicates that China, usually one ol the United States best customers, may reduce its imports of the* two products far below normal this year. The crop estimates were based on information obtained by reliable circles here. They indicated the cotton crop will increase about 15 per cent above last year's production. A bumper crop in north China, where increased acreage produced a better than average yield? will offset the effect of drought on the crop in the Yangtse valley, experts said. Under the current forecast China may reduce its imports from the United States by as much as 100,000 bales and from India by 150,000 bales, it was estimated. The wheat production of 850.000.000 bushels which observers predict will approach making China the world’s leading wheat producer of the year. STORMS DRIVE RACING PIGEONS FROM CLOUDS Birds Rescued by Cleveland (O.) Residents After Hard Rain. By United Press CLEVELAND. Aug. 16.—Several racing pigeons were succored recently after rainstorms drove them down here. The birds were entered in two races—one from Indiana to Buffalo, another from Columbus to Cleveland. T. F. Michel, in a downtown office building, rescued one bird. Frank Grams, at a residential address, another. Both men let the birds rest and dry their feathers. H. C. Shama, superintendent of the Society for Prevention of Cruelty to Animals, said racing pigeons often were halted by storms.

FANCIER RAISES FROGS FOR USE OF SCIENCE Pennsylvania Man efuses to Sell to Restaurants. By United Press LANDHORNE. Pa., Aug. 17. Raising frogs for science is the unique business of Irwin G. Schorsch owner of “International House,’’ a model frog farm here. Schorsch sells his frogs only to chemist, zoologists, and pharmacologists for experimental purposes. Colleges and laboratories also are supplied with frogs, but no sales are made to restaurants or hotels. THIEVES STEAL CABIN, TAKE ALL BUT CELLAR Owner Visits Cottage, Finds It Has Been Raxed. By United Press LACONIA, N. H.. Aug. 16.—Leon Rowe received a tax bill, assessing him on a SSOO valuation for his cottage at Lakeport. Not having seen the cottage for several years, he decided to drop out and look it over. He was astonished to discover that somebody had razed the building and carted it away, leaving only the cellar. HORNED TOAD IS PET ' OF CONSERVATIONIST Reptile Spends 9 Months in Jars and Tobacco Cans. By United Press ASHTABULA. 0.. Aug. 16.—A horned toad, widely traveled, is the pet of Edward Quirk, 19, civilian conservationist. just returned. Young Quirk carried the toad with him in glass jars and tobacco cans for nine months, while serving in CCC camps of three western states, California, Washington and Idaho. Marriage Licenses Addies Chislom 23, of 838 South Pennsylvania street, laborer, and Neata Thornton 22 of 942 South Senate avenue, typist David Puckett. 23. of 2513 James street, laborer, and Agnes Smith. 18. of 2429 Parker avenue, housekeeper. Elmore Pepper. 26 of 2426 Hovey street, laborer and Willa Richardson. 19 of 2374 North Oxford street, housekeeper A. J Schaffer. 51. of 602 Eastern avenue, garage man. and Beulah Hughes. 41. of 254 North La Salle street, housekeeper John Jackson. 29 of 2148 Hovey street .porter, and Mary Yates. 21 of 119 Pine street, housekeeper Gacamo Botto. 45. of 1036 Son'll East street clerk and Martha Conarroe. 38. of 2849 Stuart, s’reet. saleswoman. James Smith 21. of 1925 Howard street, bakerv shop owner, and Joyse Agle. 18 R. H. 17. Box 437-C. grocery clerk. Births Bov* Kenneth and Irma Nieid. 35 North Colorado, boy Max and Lorraine Leff’er. 1618 West Morris, bov. George and Malinda Robbins. 626 Alton, bov Maurice and Alice Copenhavev, 1420 North She%eld. bov. Deaths Harrv Small. 66. of 520 a® Vermont arterio sclerosis Alfred Voegtle. 74. city hospital arterio sclerosis Samuel Tuttle 16. Riiev ho-pital. septicaemia Indiana Smith. 59. of 2831 West Ten'h. lobar pneumonia Nell Klein 59. St. Vincent hopi'al carcinoma Eda Steec Long 47 of 62 Downev pulmonary tuberculosis Assets Total §53,247.795 By 7 imes Special NEW YORK. Aug. 16.—Report ol North American Company for the twelve month.* ended June 30 shows current assets totaling $53,247,795, exceeding current and accrued liabilities by $26,369,661.

PAGE 15

GRAIN FUTURES STRENGTHEN ON BULLISH NEWS Wheat Prices Rise Sharply as Traders Switch to Buying Side. BY HARMAN W. NICHOLS I nitfrt Press Staff Corrr<iM>ndrnl CHICAGO. Aug. 16.—A1l grains were stronger on the Chicago Board of Trade at opening today, being influenced by higher foreign prices and favorable Washington news. Wheat advanced % to 2% centscorn was up % to 1% cents, and oats firmed at % cent up Rye followed other grains and was up 1% to Is cents. The bulls, after five days on the defensive, started buying and wheat prices advanced sharply. Traders were encouraged by Liverpool, which opened 3 cents better than due. The weather, except in northwestern Canada, ceased to be a factor in the wheat market. Rains over lowa. Illinois and Indiana were a bearish factor in corn, but reports from Either sections were the lark of rain will result in a short crop, more than offset this. The cash demand was good. Ihe oats market followed rorn closely, there being some inclination to sell on the bulges. There was considerable demand for oats from industries and from feeders.

Cash Grain

INDIANAPOLIS -Aug. 15-*-**n' h nf rar '"i* of etain at the rail of the Indianapolis Board of Trade i- v ” r b ' shipping point, basis 17% cents to Wheat—Weak; No 1 red. 91 ©92c: No 3 red. 9091 r: No. 2 red. 91©92r Corn—Steadv: No 2 white. 72073 c No 1 white..,! ©72c No. 2 yellow. 7n©7!e; ci it Ve l ow ( 6 5"' n e: No. 2 mixed. 69©) ,0c: No. 3 mixed. 69c. Oats—Easy; No 2 white. 44%@45'-c: No 3 white. 43%(044%c. )oftl v ~?oT° nK ,f . ° b - country Point* takine 23%c or less rates to Cincinnati or Louisville) No. 1 tlmothv. sl4© 14 50. —lnspections Wheat—No 2 red. 3 cars; No 3 red 1 car No. 2 mixed. 1 car Total 5 cars' Corn—No. 2 white. 7 cars; No. 3 white. 2 cars; No. 2 yellow, 5 cars; No. 3 vrllow 9 cars; No 4 vrllow 1 car: No. 3 mixed! 1 rar Total, 25 cars Oats—No. 2 white. 1 car: No > white 2 cars; No. 4 white l car Total. 4 cars’ 3 cars N °‘ *' ~ C * IS: N °' 1 1 car ‘ Tolr1 * Local Wagon Wheat City grain electors are paving 87 rents for No. 2 soft, red wheat Other grade* on their merits Chicago Futures Range tßy United Press) —Aug. 16— Pre v Wheal— High. Low. in 00. close. Sept. . . 103 1.02% 1.02% 101 Dec 1 05% 1 05% 1.05 1 03% Mav 1.09 1.07% 108% 1.06 % Corn— Sept 76% .76% 76% 75% Dec SO 1 * .79% .79% 78% May .84% .83% '.73% .83 Oals— Sepl 49 * ,49%. .49% 49% Dec. 51% .51% .51% .30% Rve— Sept. 86' : .86 .Rfi .04% Dec 89% .88% ,89% 87% May 93% .93% .93% 92% Rs rlev— Sept .75 .74% .75 .73 Dec 71% CHICAGO PRIMARY RECEIPTS —Aug. 15Bushels Today. Last Week. Wheat 768.000 692 000 Corn 1,275.000 1,056.000 Oats 151,000 276,000 (By United Press) CHICAGO. Aug. 15.—Cash grain: Wheat: No, 2 red, $1.02; No 3 red. $1.0114; No, 4 red, $1; No. 5 red. 99c; No. 2 hard. $1.06%; No. ] mixed, $104%; No. 2 mixed. $1.01; No 4 mixed. sl.Ol %c; No. 3 red. 96%c; weevily at, 99%c Corn—No. 2 yellow, 75'* 4,76%c; No. 3 yellow. 75 '*c; No. 4 yellow, 75c; sample grade. 71c. Oals—No. 1 white, 53c; No 3 white, 49%c; No. 4 white. 47%® 47%c. Rye—No. 2. 87c; sample grade, 80c. Barley—No sales. quotable, 65c®51.05. Timothy. $164, 16 50 Clover Seed—sllso 4,16. Cash Provisions—Lard, $8.27; loose, $7.75: leaf. $8 bellies, $llBO. TOLEDO. Aug 15—Grain close. Wheat —No 2 red. $1.00%©1.01%. Corn—No. 2 vellow. 79%©80%c. Oats—No. 2 white, 5l %®.52%c. Rve—No. 2. 86%6©87%c. Track prices: Wheat—No. 1 red, 96%4ij 97%c: No. 2 red, 95%©96%c. Corn—No. 2 vellow. 75%©76c; No 3 yellow. 74 1 ?©I 75%c; No. 4 vellow. 73%4,f4e Oats—No. 1 white. 49%4,52%c: No. 2 white, 48%@ 50%e- No 3 tthite 46%4i50c ST. LOUIS Aug. 15.—Cash grain: Wheat in slow demand 3%c lower on hard and 3c lower on red: No. 2 red. 99c early. 99%c at close; sample red garlicky 90c: No 1 hard. $106%: No. 1 light garlicky. 99c. Corn—ln slow demand. 2c lower: No. 2 vellow. 76%c. Oats —In slow demand, ic lower; No. 3 white. 47%c. EXPANSION OF FEDERAL BOND HOLDINGS HALTED Reserve Member Ranks Liquidate 870,000,000 of Seeurities. By I nncs Slier:inl CHICAGO. Aug. 15.—A sharp halt in the expansion of federal reserve member bank holdings of government securities which has been making steady gains in the last few weeks was made last week when reports from member banks in ninetyone cities showed liquidation of $70,000,000 carrying the total down to $6,636,000,000. Deposits of member banks according to the report were littie changed, gross deposits advancing $1,000,000 a gain of $49,000,000 in interior cities wiping out drops of $40,000,000 and $8,000,000 in New York and Chicago, respectively. Individual deposits climbed $5,000,000. Interbank deposits dropped $4,000,000 and total loans and investments. of member banks receded $85,000,000. New York accounting for most of the loss by a drop of $83,000,000. FOOD PRICE SO N~C LIMB Dun & Bradstreet Index Shows Advance of 5 Cents. By l nilril Press NEW YORK. Aug. 16 —Prediction of rising food prices were bolstered todSy when the Dun fc Bradstreet food index advanced 5 cents this week to $2.28. It was the highest level since April, 1931, and compared with $1.91 in the corresponding week last year. The advance followed a similar 5cent jump in the preceding week. Os the thirty-one items included in the index seventeen showed gains for the week and only four declined. OLDSMOBILE .SALES UP Advance 96 Per Cent During First Seven Months This Year. By 'I imes Special CHICAGO. Aug. 16—Sales of Oldsmobiles during the first seven months of the current year were 96 per cent above the corresponding period last year, D. E Ralston, vicepresident and general sales manager, announced at a meeting of field men of the company here this week. Sales during July, Mr. Ralston reported, were 131 per cent in excess of the corresponding 1933 month.