Indianapolis Times, Volume 46, Number 84, Indianapolis, Marion County, 17 August 1934 — Page 24

PAGE 24

Wall Street Gold Shipment Provides Proof That U. S. Is on Bullion Standard. BY RALPH HENDERSHOI Tim#* Financial Hnlff THAT the United States is really on a gold bullion standard was proven recently *hen the Guaranty Trust Company received permission about SI.OOO 000 of the yellow metal out of the country. It was the first time gold had been exported from these shores on a straight commercial transaction since April 20.

1933. when Pres id ent R o o s e velt placed an embargo on such exportations. E v i dentl.v the entire world was surprised by the act, even though permis s:on to take such a step had been in effect for some time.

Hendrrshnt

French francs rose sharplv in the forritm exchange market, due. it yis said to '•hort. covering by speculators. ho apparently figured we would not loosen up on our hoard except under unusual circumstances. It was not even necessary for the bank to get permission from the United States treasury to make the shipment. All it did was to fill out an application and file it with the New York Federal Reserve bank. The federal reserve gave its approval almost immediately, acquiring the metal from the government to fill the order. m a a THF shipment was made by the decline in the dollar in the foreign exchange market to a point where the operation was profitable. The slump in the dollar, in turn, was due to President Roosevelt's order nationalizing silver in this country, which was accepted by the foreign exchange speculator > as an indication that we were' to have currency inflation. Criticism of the shipment may br expected in some quarters on the basis that the government should not permit foreigners to dip into our gold pile as long as it is unwilling to allow its own citizens to do likewise. Others undoubtedly will come to the government's defense with the argument that it is the only, way we can settle international trade balances. a a a THE Street was wondering whether it could accept the action as an indication that no further devaluation of the dollaf is in prospect. The government is being pressed to make a further downward revision m the gold value of the dollar, and if prospects of such a step become too good it is possible that we might lose a large amount of the metal to those always ready and eager to take advantage of such a situation. The Street also was wondering whether we were about to use our gold to arquire silver in the world market. If we go into the world market and bid up the price of silver in futherance of provisions of the Silver Purchase act it is thought quite possible that we may pay for it in gold now that we have demonstrated that our international trade balances can be settled in that fashion.

AVIATION CORPORATION ANNOUNCES HUGE LOSS SulTrn. $1,144,634 Hr'T-.nl Purine First Half of Year, />■) / ’mrn SBCriel NEW YORK. Aug. 17— Net loss of 51.144.634 during the first six months of the current year is reported by Aviation Corporation and its subsidiaries, as compared with a net profit of 5321.057 in the corresponding period last year. All phases of .the company's revenues showed declines, but mail revenues which totaled only 5719.709 as compared with 52 666.515 last year was the largest factor in the company's reversal. Passenger revenues during the period totaled 5748336 against 5805.022. a total of 42 909 revenue passengers being carried 3.970.916 miles, while 48.506 passengers were carried 5.838.367 miles m the similar 1933 period. Total transportation revenues amounted to 51.530.137 against S3 523.261 in the first six months of 1933. FIRM REPORTS PROFIT Colgate-Palmolive-Peet Earns 59.76 a Preferred Share. S') T’tH't Sfifriol JERSEY CITY. N. J.. Aug 17. Colgate-Pa!molive-Peet Company in the first half of the current year had earnings approximately 59 76 a share on the preferred stock Bayard Colgate, company president reports Following the report bv Mr. Colgate. directors of the company declared the regular quarterly dividend of 5150 a share on the preferred stock, payable Oct. 1, to holders of record Sept. 10. In the Cotton Markets . —Aug I* , CHICAGO Hseh. Low Close .lir.ulir 13 T 913 66 13 66 Wirch 13 91 ’*3'* 13 TS • 13 9* 13 SS 13 S5 October 13 SI 13 42 13 44 Dfcrmbtr 13 ts 13 >9 13 60 NEW YORK JinuirT 11 TO 13 54 13 61 M. 1?*; J* T 213 T3 Mr 13 93 13 T 9 13*1 Mr 13 *6 13 AS 13 *5 October 13 56 13 40 13 40 December .... 13 To 13 54 13 Si NEW ORLEANS Jinuirr March 13 *2 13 6* 13 66 u lv 13*9 13*1 13*1 “t 13 *9 October is 5! 13 35 13 36 December 13 65 13 51 13 51 N. Y. Coffee Sugar Futures COFFEE —Auf. 16— —Siiilei— High. Lo Close March 11 24 11 16 11 14 Ms 11 36 11 19 11 31 S&sriHEttg sis 11 si f1K1"..-.:::::::!™: ::::: HI BSSSZ SIS S3 !" •CGAB High. Low. Close Jiiiutrr ••••••••••• • • 11 March 1H 1M I*6 BKrr::::::::: 1.2 1.3 15

METAL SHARES HEAD ADVANCE | IN STOCK LIST Price Changes Narrow in Dull Trading: Bonds, Dollar Uneven. BY ELMER C. WALZF.R ( mtfd Pre Financial Editor NEW YORK. Aug. 17—Stocks continued dull today. Prices were irregularly higher, with most changes fractions. Cotton futures declined, while bonds and the dollar were mixed. Gold and silver mining issues #<'p strong and so were fertilizer shares. In the latter group. American Agricultural Chemical made a new high for the year at 37' z , up - from the previous close. United States Smelting held at 135’,, up and American Smel'ing 38. up 2 . Mclntyre Porcupine made a small gam in the golds. Tractions were mixed in a narrow range; motors were steady, as were farm equipments; mail orders firmed; utilities were mixed; rails showed small gains. Chrysler, w hich opened unchanged at 33'-. made a small gain. United States Steel held at its opening of 34'.. up ' 2 . Du Pont was at 90’, up ; General Electric 19 ~up American Telephone 111 1 ., off ; Atchison 48., up and New York Central 21'., up 'i. Dun A- Bradstreet found more favorable turn of merchandising developments which has led many executives to the “opinion that estimates of fall trade will tvvd to be revised in an upward direction.’’ Money and Exchange INDIANAPOLIS BANK CLEARINGS —Aug. 17— Clearing* $i 996 non no. Debi’v 5. 112.t'00 00 FOREIGN EXCHANGE <Bv Abbott. Hoppin & Cos.) —Aug. 16— * Closn. Sterling England $5 08 s , Franc Franrn 0666'e Lira Italv 0867 Bnigia.v Belgium 2373 I Mark Germanv 3938 Guilder. Holland 6849 Peseta. Spain 1381 Krone Norway .2555 Krone. Denmark 2271 Treasury Statement ißy United Pressi Wp-hingron. Aug 17 Government expense, and receipt, of the current fiscal •eai to Aug 15. compared with the corresponding period of the previous fiscal j yea r: Expenses . $ 724 413,247 86 *453 765.997 97 Receipts .. 385.858.169 96 269.254.057 78! Deficit .. 338.555.077 90 184 311.940 19; Cash Bal .. 2,260.353.217 06 Investment Trust Shares tßy Abbott. Hoppin & Cos.) —Aug. 16— Bid. As American Bank Stocks Corp .. 1 01 1 05 American <fc General Sec A ... 3.50 4.50 American A- Inv Tr Sh 1.75 Basic Industry Shares 3 02 306 British Tvpe In'. Tr Sh .34 .40 Collateral Trustee Shares A 4 25 4.50 Corporate Trust Shares iddt 186 192 Corporate Trust Shares inew) 212 216 Cumulative Trust Shares 3 62 3 68 Diversified Trust Shares A ... 625 Diversified Trust Shares B .. 700 725 Diversified Trust Shares C ... 277 282 Drersified Trust Shares D .. 428 432 First Insurance Stork Corp.. .50 .87 First Common Stock Corp ... .52 .57 Fixed Trust, Oil Shares A ... 725 .... Fixed Trust. OH Shares B Fundamental Invrsters Inc .... 175 195 Incorporators Investment.* 16 25 16 50 Land Bank Bond Shares I.l* 1.27 Low Triced Trust Share* ... 522 5.32 Mass Inv Trust Shares 17 84 19.30 Nation Wide Securities 298 302 North Am Trust Shares • 53) 1.78 North Am Tr Shares (55-561 2 14 2 18 North Am Trust Shares csß>.. 2 16 2 19 Selected American Shares .. 2.26 . . . Selected American Shares Inc. 1.03 1.12 Selected Cumulative Shares .. 598 Selected Income Shares ... 310 362 Sand American Trust Shares A 273 276 Trust Shares of Amortra 7 62 2.67 Trustee Std Oil A 130 540 Trustee Std Oil B 472 480 V S Elecric Lt. A- Pwr A 11.25 11.50 Universal Trust Shares 2.76 2.82

Daily Price Index •Bv United Pres.M NEW YORK. Aug IS.— Dun A- BradMreets daily weighted price index of thirtv hour commodities compiled for the United Press ,1930-1932 average 100): Todav 118 "4 Yes'erdav 118 14 Week ago 119 83 Month ago .... 114 55 Year ago <Aug. 17, 100 41 1934 high Aug. 101 120 02 1934 low ,Jan 3' 10105 'Copvright 1934 by Dun A- Bradstreet. Inc., Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A 25-cent carrying charge per ton will be added. DOMESTIC RETAIL PRICES Anthracite $13.50 Brazil Lump 5.90 Brazil Egg 5 90 Brazil Mine Run 5.25 Coke. Nut Size 8 50 Coke. Egg Size •••••• 8 60 Indiana Forked Lump No. 4 and 6. 5.75 Indiana Egg 5.75 Krntucßv Lump. Group “B’ 7.15 Pocahontas Lump 8 25 Pocahontas Fee 8-35 Pocahontas Mine Run ■ New River Smokless 8..a COTTON EXPORTS VALUE SHOWS SHARP DECLINE July Total Nearly 100 Per Cent Under Similar 19.33 Month. Bff f Kit' rs />• * WASHINGTON, Aug. 17—Value of raw cotton exports during July decreased almost 100 per cent under exports for July. 1933. the commerce department reports. Raw cotton exports in Julyamounted to 306.000 bales, valued at 519.842.000 compared with 692.000 bales valued at 536.455.000 during July 1933. Exports in June this vear amounted to 459.000 bales valued at $28,487,000. For the vear August. 1933. through July. 1934. the quantity of exports dropped 10 5 per cent under the previous year, but value increased 23 per cent. Estimate Lumber Consumption Bn Time* Special CHICAGO. Aug. 17.—The National Lumber Manufacturers* Association. figuring on the basis of consumption figures in the first six months of this year estimated total consumption for the year will amount to 15.500.000.000 feet against 14.600.000 000 last year. Wheat Exports Increase Bn Timet Special CHICAGO. Aug. 17.—American and Canadian ports exported 4.081.280 bushels of wheat during the week ended Aug. 11 as compared with shipments of 3.161.307 bushels in the preceding week and 2.866.832 bushels in the similar 1933 week. Sugar Shipments Rise Bn 7 imet Special NEW YORK. AUg. 17—Refined sugar exports from the United States in June totaled 4.786 long tons as compared with 3.672 tons in the corresponding 1933 month according to Lam born & Cos., sugar brokers.

New York Stocks B Abbott Hoppin Cos AVERAGE STOCK PRICES FOR THURSDAY' Net High. Low. Close, change. Thirty industrials 92.51 91.08 91.69 -,69 Twenty rails 35.58 34.74 34.97 -.35 Twenty utilities 70 20 22 20.45 -.29 Forty bonds .... •••• 92.78 -.24 Ten first rails •••• •••• 100.55 —.23 Ten second rails •••• •••• 75.00 -.38 Ten utilities •••• •••• 98-57 *.16 Ten industrials •••• •••• 97.00 -.03 + U*.

—Aug. 17— Prev. Oil* Hig.t. Los-. 10 00 Close. Amerada 48 Atl Rfg 25 S 25 5, Barnsda.’l 7 Consol Oil * 9 9 1 . Cont of Del 18 s , 19 Houston mid) . . . !8' Mid Con Pet ... 12’, m ll 1 . 11 Ohio Oil .. . 10’ g Pet Corp 10'. Phillips Pet 17 17 Plymouth Oil 10 Pure Oil B’. B'. Sbd OH 23 Shell Un 7’ 7'. Soc Vac 15 3 15*. S O of Cal 35* a 35', I 8 O of N J 44' 2 44 * Sun Oil 64 Texas Corp 23’a Tidewat Assn 10', 10 Un Oil of Cal 15'a 16 Steels— Am Roll MU!* .. .. ... 16' 16', Bf'h Steel 2T 2 Bvers AM 17'. Col Fu k It 5 Cruc steel JO’, ... Ludlum Stee, u*, Mckees Tin 89 Mid Steel 8’ 2 B', Mail Steel 38'2 28’ g Rep Ir A St ]4 U S Pipe & Fdv 20 19 1 , U 8 Steel 34’, .33 , U S Steel pfd 80 Warren Bro' 7 Youngst n SAT 16 1 a Motors— Auburn ... ... 20’ Chrysler 33 1 . 33’ j 33% 33 , Gen Motors 29 1 , 29'. 29 1 , 29’ 2 Gen Motors pfd 101>, 101 Graham Mot ... 17,l 7 , Hudson 8 ’, Hupp 12 3 Mack Truck 25 3 4 Nash 14 :, 4 Packard 3*4 3’, Reo 2' 2 Studebakr 3 Yellow Truck 3’ 2 Motor Acces*— Bendix 12', Bohn Alum 54'2 54' z Borg Warner 21 21 Briggs 17 ’a 17S Eaton Mfg . .. .. ... ... 14'2 Elec Auto Lite . .. ... ... 18-', Honda llle A 4Va Mullins Mfg pfd 25 23'2 Murray Bodv .. .. s' Stew Warner 6'4 Timken Roll 28’2 Timken Det Axel 5 3 4 5 7 a Mining— Alaska Jun . . 20'2 20's Am Metals 20 19 7 , 20 Am Smelt 38 37 3 43337 3 37*4 Anaconda 12 1 . 12 s , 12', 12’ Cal A Hecla 3’ 2 3', Cerro De Pasco . 40’ 2 39 * Some Mines . . 44 43 3 , 44 44 oranbv ... ... 7 3 4 Gt Nor Ore ... 10 s , Howe Sound ... 53 3 5353 3 , 52 7 , Int Nickel 25 7 25>,2 Isl Creek Coal 19’2 . Kennecott Cop. 19*2 Mclntyre Mine.. .. ... 48’ 2 48’ 4 Noranda Cop 44 Park Utah 4 Phelps Dodge 16 St Joe Lead . 13' 2 U S Smelters .. 136 135* * 136 13)’ 2 Vanadium 17*/a Amusements— Crosley Radio .... 14 4 Fox Thea 10' , Loans Inc ... 27Va 27’, Radio Corp 5 7 * 5 3 4 RKO 2’, Warner Bros ... .. ... 4’/ 4 4 Tobaccos— Am SnufT 61 3 Am Sum Tob .. .. ... 19',2 19 s , Am Tobacco B. ... 75 s , Gen Cigars 41 3 4 Ligg A Myers B. .. ... ... 96 '4 Lorillatd ... ... ... 17 7 Reynolds Tob B 45*4 45'2 45*4 45'2 Rails— Atchison 48 3 4 48'2 484 48', Atl Coast Lines 28 B A O 16 Can Pac 14’$ 14 14 134, Ch A Ohio 43 43 Cl A Gt W 2’, Ci A Gt W pfd 4’ 2 C M A St P * 3 C M A St P pfd 4 7 , Cl N W 6 Ci N W pfd 10 3 4 Dela A Hud 40 Del Lac A W... 16 s , 16-4> 16-', 16 4 Erie 13 12 Erie pfd ... 18 Grt Northern pfd 14 s , 111 Central ... .. 164 Lehigh Valiev 114 114 Lou A Nash 44 3 4 44’, MKA T 6 4 M K A T pfd 15 3 , Mo Pac pfd . . 3 7 , N Y Cent 22 21 s * 23 21 ’ N Y Chi A S L 12'2 N v New Haven 10*4 10'* Nor Pac IS 3 , Penn R R 23 22 3 , Sou Pac 17 s , 17’2 17', 17’, Sou R R 15’, Sou R R pfd 19*4 l* 1 2 Union Pac ... 98V* 98’2 West Maryland .. ... ... S’, Equipment*— Allis Chalmers... .. ... ... 134 Am Brake Shoe. .. 234 Am Car A Fdy ... 16 s , Am Car A Fdv p 36 Amer Loco ...... 19 Am Steel Fdy 14 4 Bald Loco 8 1 , Bald Loco pfd 33 Burroughs 114 Case J I 4040 C’ater Tract 27'2 Deere A Cos 15 Elec Stor Bat... .. .38 4 Foster Wheeler. 12 Gen Am Tk Car 311 2 Gen Elec 19Va 19 Gen R R Slg 29'2 Ingsol Rand 55 Int Bus Mach 134* 4 Int Harvester .. .. ... 26' 2 264 Pullman Inc 41 s , 41*2 Rem Rand .. 54 Und Elliot 45 West Air B . .. 184 Westingh Elec 32’, 32 324 32' 4 Worthington Pm 16 Utilities— Am A For Pwr 74 74 Am Power A Lit .. ... 4 7 44 A T A T Ill', 114 Am Wat Wks 164 16 4 Col Gas A Elec 9 8 7 , Col G A E pfd 66 Com A Sou 14 14 Consol Gas . 274 27', Elec Pwr A Lit. .. ... 44 4 E P A L pfd 84 Int Hvdro Elec.. .. 44 Int TAT .104 10 10 10*2 Nat Pwr A Lit 84 3 North Amer 134 134 Pac G A E 154 154 Postal Tel pfd 154 Pub Serv N J 33 So Cal Edison. 13 * 134 Std Gas 84 St{i Gas pfd 84 S'one A Webster .. ... .. 6 United Corp 34 4 Un Gas Imp .. 144 Ut Pw A Lt A'" 24 West Un 36 Rubbers— Firestone 164 Goodrich 10-4 104 Goodyear 2.3 4 23', Kelly Spring 24 U S Rubber 164 164 U S Rub pfd ... 37U Miscellaneous— Am Bk Note 15 Am Can 97 Brklvn Man Tr 44 4 43 4 Conti Can 814 81 814 51 Crown Cork 24 4 Eastman Kod 98 Gillette 114 Glidden 25 55 Inter Rap Tr .. 114 114 114 124 Ravbest Mfg ... 29 Foods— Am Sugar ... 684 68 Armour .. .. 64 64 Beat Cream 154 154 Borden Prod 26 26 Cal Packing 40 4 40 Can Dry G Ale 154 154 Corn Prod 57 4 57 Cub Am Sug 14 Gen Foods 30 294 Gold Dust ..... .. ... ... 174 G W Sugar 334 Int Salt 294 Loose Wiles .... • • *O4 .40 4 Natl Biscuit .... 324 32 5 , 32 4 324 Natl D Prod 17 17', Puritv Bafc 10 Spencer Kellog ?44 Std Brands 1?! Un Biscuit •• ••• , 27United Fruit .. ,2-a <l4 <l4 <2 Retail Stores— Assn Drv Goods. .. ... ■ 104 First Nal Stores. 64 64 Gimbel Bros ,?• G'.mbel pfd 1; * Hahn Dept Sts ,44 Kresge 8 8 W - ■ Kroger Groe .... ... ••• 28 s . Macv RH , 40 • , Marshall Fields Mont Ward 23 32 4 Natl Tea 10 Pennv J C ••• ’8 “f 4 Sears Roebuck .... ■ jv. Woolworth 49 ♦ 49 4 Aviation — Aviation Corp *’ 4 Curtiss Wright .. .- ••• Curtiss Wright A 84 J f T * 4 Douglas Air I*4 l* 1 : 18 lB Nor Am Av • •• J. 4 Speerv Corp 8 2 8 8 United Aircraft j* 4 Wnght Aero 14 Chemicals — Air Reduction 9 jj4 Ali.ed Chem 129 1284 Am Com Alcohol 2,4 26Col Carbon •,?oi 3 Com Solvents ... 194 1* I 9 4 * 9 4 Dupont .... 90 89 894 89 Freeport Tex 4 ’. Liquid Carb * Math Alakli 28 ’ ?8 ; Natl Dls 1 newt ,• i Srher.ley Dist .. -• • - 214 21 a I Tex Gulf Sulrh .. 334 33 33 3. . Union Carbid'* J* 4 IU S Ind Alcohol ~, f8 4 Vir Chem 64 pf i* 4 Lambert ........ 24 23 a 23 • 24

THE INDIANAPOLIS TIMES

1 Un Drug 124 Zonite Prod 44 44 Financial— Adams Exp 7’, Allegheny Corp 24 24 Am Int Corp 64 Chesa Corp ... 334 Lenman Corp ... .. 67 4 Tran.same rica .... ... 54 6 Tr Conti Corp 44 ... Building— Am Radia*or 134 33', Gen Asphalt 16 s , Int Cement 234 Johns Manville 444 444 Libby Owens Gls 28 4 Ulen Const 2 Household— Col Pal Peet 14 7 , 144 Congoleum 28 274 Kelvinaror ... 13 Mohawk Carpet 164 Proc A Gamble 37 4 Simmons Bed 11 Textiles— Amer Woolen ... 94 9 94 9 4 Celanese Corp .... ... . 214 Collins Aikman 12 Gotham Hose 54 Kavser Julius 144 Real Silk f New York Curb (By Abbott. Honnin A Cos.) —Aug. lb— Close Close. Alum Cos of Am 57 Hiram Walker 25 Allied Mills . 7 Humble OH 43 4 Am A For P W 44 Imperial Oil Ltd 15 4 Am Cvanide B 184 Hud Bav Min.. 144 Am Gas A El . 22 4 Int Petrol . 284 Am Superpower 17.l 7 . Lake Shore Min 544 Atlas Corp 9 Libby McN Lib 74 British Celanese 2 s , Lone Star Gas.. 54 Can Marc . . 14 Mt Producers 44 Carrier Corp. 9 7 , Natl Bellas Hess 24 Cities Serv. 17,I 7 , Newmont Mm.. 47 Commonth Ed 47’tNia Hud Pwr.. 44 Cord Corp ... 3 7 , No’adel Agene.. 214 Creole Petrol 124 Park Davis ... 25 Crown Cork Inti 6 3 , Penn Road .... 2 Deere ACo ... 15 |St Regis Paper. 2 7 , Disllllers Lim 224 Sherwin Wms. 71 Distillers Corp 124 Std of Ind ... 264 Dow Chem . 734 Std of Ky .... 154 El Bond A Sh. 114 Technicolor Ind 12 Fisk Rubber .. 84 Teck Hughes G 7 Ford of Europe. 84 Un Gas 2 Gen Aviation . 4 ;Un Pwr ALt A 14 Glen Alden C 20 Wright Harg M 94 Gulf Oil of P. 57 s ,, Chicago Stocks (By Abbott. Hoppin & Cos.) —Aug. 17High. Low'. 11:30. BerghofT Brew Cos . 54 Borg-Warner 21 20 4 21 Butler Bros 8 Chicago Corp Com 2 Cities Service _ • 14 Commonwealth Edison 474 474 47*2 Cord Corp 34 3 s , 34 Electric Household ... 154 General House Util ... . • 10 Libbv McNeil 74 7 74 Lynch Corp . ■ 31 Noblitt Sparks Ind Inc 124 124 124 Quaker Oats . 118 Swift A Cos 184 18*2 184 Swift International ... 37 36*4 37 Utah Radio 14 Bond Prices By Fenner A Beane ————— - Aug. 17— Am A For Pw 5s 2030.. 51 4 50 4 51 4 ATAT db 5s '65 1084 Atchison gen 4s 95 .. 102 4 102 4 302 4 B A O cv 44s '6O 574 Can Pac 4s 79 CMSPAP adj 5s A 2000 .. 84 CMSPAP rs os A '75 .. 304 30 304 Det Ed 5s F. '52 - 1074 Goodyear 5s '57 101 1004 101 Gt Nor 7s A ’36 884 884 994 Interboro RT 5s '66 .. 754 75 75 Int T A T db 5s ’55 584 Nat Dairy db s*4s '4B 984 Penn R R 44s D 'Bl 954 Poland 7s ’47 117 1164 117 Tex Corp 5s '44 103 Tob Pr N J 64s 2022 1064 West Un 5s ’sl 82t, V. S. GOVERNMENT bonds (By United Press) NEW YORK. Aug. 16.—Closing Liberties (decimals represent thirty-secondsi; —Liberty—--34s (32-47 103.16 First 4* 4 s (32-47) 103.7 Fourth 4'iS (33-38) 103.25 —Treasury—--4',.* 3* is (45) 102.26 44s (47-521 113.30 34s (43-47) 103.26 34s (41-43i, March 104.13 34s 140-43). June 104.15 3*,s (431 104.10 34s ,46-49) 101.25 3s (51-55) 100.26 FEDERAL FARM LOAN BONDS (by Blyth A Cos.. Inc.) -Aug. 17— 4s July 1, 1946-44 99 99", 4s Nov. 1. 1957-37 97 98 4 4s Mav 1. 1958-38 97 984 44s July 1. 1956-36 98 3 i 994 44s Jan. 1. 1057-37 99 994 4 * 4 s Mav 1. 1057-37 99 994 44s Nov. 1 1958-38 994 1004 44s May 1. 1942-32 99 4 100 44s Jan. 1. 1943-33 99 4 100 44s Jan. 1. 1953-33 -984 994 44s July 1. 1953-33 984 994 44s Jan. 1. 1955-35 99 99 s * 44s Jan. 1. 1956-36 99 100 5s Mav 1. 1941-31 1004 1004 5s Nov. 1, 1941-31 1004 1004 —Home I-oan—--3s Mav 1. 1952-44 99.07 99.11 4s July 1. 1951 99.18 99.22 —Federal Farm Mortgage Corporation—--34s March 15. 1964-44 100.23 The three latter quotations are in thir-ty-seconds. New York Bank Stocks (By Abbott. Hoppin & Cos.) —Aug. 16Bid. Ask. Bankers 564 57 '4 Brooklyn Trust 85 88 Central Hanover 125 1254 Chase National 25 4 25 s , Chemical 40 V* 40 s , Continental 114 124 Corn Exchange 46 46' 2 Empire 174 18 First National 1.445 1,460 Guaranty 320 322 Irving 154 154 Manhattan A- Cos 28 4 28 s , Manufacturers 19 s , 20 National City 234 23-’, New York Trust 94** 954 Public 29 294

Bright Spots 'By Abbott. Hoppin & Cos.) National Air Transport Company report for the quarter ended June 30 shows a net loss of $122,496. Caterpillar Tractor Company in seven months ended July 31 had a net profit of S2 377.380 after charges, equivalent to $1.26 a share on the capital stock. Atchison. Topeka A Santa Fe Railroad Company net income in the first six months this year amounted to 51,160,402. equivalent to 94 rents a share on the 5 per cent preferred stock. Federal Light and Traction Companv in the twelve months ended June 30 had a net income of $960,044. General Electric Companv has begun work or: two turbine generators for Ford Companv which will cost approximately $2,000,000. twolnsurancemen RECEIVE PROMOTIONS Pearce H. Young, Local Manager, to Head St. Louis Agency. Promotions of Pearce H. Young and Oren D. Pritchard of the local branch of the Union Central Life Insurance Company of Cincinnati, were announced today. Mr. Young, manager of the Indianapolis agency since May, 1933. has been named manager of the St. Louis branch, while Mr. Pritchard. his assistant here, has been appointed manager of anew agency established in Ft. Wayne. E. Robert Shannon, associate general agent of the Penn Mutual agency at New’ Orleans, will succeed Mr. Young as manager of the Indianapolis office. Appointments of Mr. Young and Mr. Shannon became effective Aug. 15. while that of Mr. Pritchard will become effective on Sept. 1. Announce 558,472 Profit Bn Timet Special CHICAGO. AUg. 17.—Net profit of $58,472. after all charges, is reported by the Utility and Industrial Corporation, an investment trust, lor the first six months this year.

SWINE MARKET UP SHARPLY ON HEAVY DEMAND

Prices Average 40 Cents Higher: Cattle, Veals Unchanged. Porker prices at the highest levels for more than three yeafs and determined to pass the $7 mark con- ! tinned their sharp advance at the Union Stockyards this morning. Major increase of the week was registered today when prices averaged 40 cents higher than the previous close. Receipts continued light as during the last two weeks and were estimated at 5.000. Livestock markets of the nation this week have reported swine values at new highs since September. 1931. and attributed the upturn to hght supplies and a heavy demand which has resulted from severe drought conations throughout the country. Bulk 160 to 200 pounds sold at $6.60 to 6.70, with heavier grades, weighing 200 to 300 pounds, cashing in at $6.70 to $6.75. Few choice kinds were reported selling at $6.80. Lightweights ranging from 130 to 160 pounds brought $5.40 to $5.90, while smaller classes, scaling 100 to 130 pounds, were salable at $4.15 to $5.15. Packing sows sold at $5 to $6. Holdovers were 237. Usual Friday clean-up trade prevailed in the cattle market, with practically all grades remaining unchanged. Receipts were 3,500. including 3.100 government cattle. Vealers held stationary, selling at $7 down. Receipts numbered 700, Early sales in the lamb market were strong to slightly higher than yesterday's close. Bulk of ewe and weather grades sold at $7. while bucks held at $6 down. Throwouts ranged from $3.50 to $0.50. Receipts were 1.000. With receipts estimated at 9.000. lowest figure for the week, porker prices at Chicago were sharply 25 cents higher than yesterday. Choice of 170 to 270 pounders, sold at $6 to $6.60. Today's receipts included 4.000 directs and 1,000 holdovers. Cattle receipts 4.500, including 3.000 government; calves, 6.000, including I. government veals; market, steady. Sheep receipts, 9,000; market, unchanged. Aug. Bulk. Top. Receipts. 11. $4.30® 5 50 $5.65 1,000 11. 4.30*/, 5 50 5 65 1.00(1 13. 5.40® 5.60 5.80 4.000 14. 5.55® 5.75 6.00 5 0(0 15. 5.75® 5.95 6 10 4.000 16. 6 20® 6 30 6.45 4.500 17. 6.60® 6.70 6 80 5,000 Market, Higher. (130-1601 Good and choice....s 5.65® 5.90 —Light Weights—-(l6o-1801 Good and choice ... 6.60® 6.65 ,180-200, Good and choice.... 6.65® 6.70 —Medium Weights—-,2oo-220, Good and choice ... 6.70® 6.75 1220-250) Good and choice ... 6.70®; 6.80 —Heavy Weights—-,2so-290) Good and choice ... 6.75® 6.80 (290-350) Good and choice ... 6.65® 6.75 —Packing Sows—(3so down) Good 5.50® 6.00 (250 lbs., Good 5.00® 5,75 (All weights) Medium 4.75®5.50 —Slaughter Pigs—-(loo-130) Good and choice ... 4,15®; 5.15 CATTLE Receipts, 3,500; Market, Stfady Good and choice $ 6.50<® 8.75 Common and medium 3.00®! 6.50 U. 100-1,500) Good and choice 7.00® 9.00 Common and medium .... 5.00®! 7.00 (550-7501 Good and choice 5.00®> 6.75 Common and medium 2.00® 5.00 (750-9001 Good and choice 5.00®, 7.00 Common and medium 2.00® 5.00 —Cows— Good 3.00® 4.01) Common and medium 2.23® 3.00 Low’ cutter and medium 1.25@ 2.25 Bulls (yearlings excluded, Good (beef steers, 2.754? 3.50 Cutter common and medium.. 1.50®i 2.75 VEALERS Receipts, 100; Market, Steady Good and choice $ 6.00® 7.00 Medium 4.50® 6.00 Cull and common 2.00® 4.50 —Calves— 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 (800-1,500) c „„ Good and choice 3.50® 5.00 Common and medium 2.50® 3.a0 SHEEP AND LAMBS Receipts, 1,000; Market. Higher Lambs. 90 lbs. down, good and choice $ 6.50® 7.00 (90-110 lbs.) Good and choice 6.00® 6.,5 (90 lbs. down, Com. and med. 4.00® 6.00 —Ewes— Good and choice 2.00® 5.00 Common and medium I.oo® 2.00

Other Livestock (Bv United Press) CHICAGO. Aug. 17.—Hogs—Receipts. 9.000; government, 4,000: holdovers. 1,000: market, slow, unevenly 10®25 cents higher; bulk good and choice. 175-270 lbs., $6,404' 6.60: top. $6.65: packing sows. 25 to 35 cents higher; bulk, $5.75® 5.90: few $6 and above: light lights, 140® 160 lbs . good and choice. $5.35® 6.15; light weight, 160-200 lbs good and choice, s6® 6.60: medium weights, 200-250 lbs., good and choice, $6.45® 6.65: heavy weights. 250-350 lbs., good and choice. $6.25® 6.65: packing sows, 275-550 lbs., medium and choice. $4.50® 5.90: slaughter pigs. 100-130 lbs , good and choice. s4® 5.40. Cattle—Receipts. 1,500 commercial, 3,000 government; calves 500 commercial, 1.000 government. steady cleanup trade on most classes strees and flutter cows fairly active, other feed stock slow; vealers strong; choice around 1.200 lb. steers at $8.10: yearlings averaging 904 lbs. at $7.50; native grass steers mostlv s3® 4 50: selective vealers. $7. Slaughter cattle and yearlings: Steers, 550-900 !bs., good and choice. So.dO® 8 90-1.100 lbs., good and choice, $5.75® 9; 1.100-1.300 lbs., good and choice, S6® 9.50: 1,300-1.500 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. 54.50®7; common and medium. >2.25® 4.50: cows, good. s2.7d® 4.25: common and medium. s2® 2.75: low cutter and cutter. $1.25® 2.25; bulls (yearlings excluded i good (beef'. $2.7’®3.50; cutter common and medium. _ s2® 3.25; vealers. good and choice. 5'.76®7: medium. 53.50® 5 i5; cull and common. $2.50® 3.50: Stockers and feeder cattle. Stockers 1 050 lbs., good and choice. 54.20®5.25: common and medium. $2.50® 4. Sheep— Receip's. 9.000: lambs, decidedly slow; indications around steady; early bids lower, best lambs culled $7 upward: most bms and fed initial sales well under $6._;5; aged sheep steady: native ewes. s2®.ia: slaughter sheep and lambs. l_ambs, 90 lbs. down, good and choice. s6® 7.10: common and medium. $4.25®6.10: ewes. 30-iSO lbs . good and choice. s2® 3: all weights, common and medium. $1.50® 2.50; feeding lambs, feeding lambs, 50-75 lbs , good and choics. 55.50®,6. LAFAYETTE. Aue. 17.—Market. 40®,5c higher- 200-250 lbs.. $6.55® 6.65; 180-200 lbs $6.50; 160-180 lbs.. $8 404,6 45: 140160 lbs., $5.50® 5.75: 125-140 lbs.. ss® 5.25; 115-125 lbs.. $4.75® 5; 100-115 lbs.. *4.25® 4 50: roughs. $5.75 down. Top calves $5; lambs. $6 down. or . . . FT WAYNF. Aug 17.—Hogs—25c higher 250-300 lbs.. $6 65: 200-200 lbs . $6.55: 180-200 lbs $6.40: 160-180 lbs.. $6.25 300350 lbs . $6.40; 150-160 lbs.. $5.50: 140150 lbs *5 25: 130-140 lbs.. *5; 120-130 lbs $4 50: 100-120 lbs.. $4 25: roughs. $5; stags $3.50. Calves. $7: lambs. $8.50. - By Times Special, LOUISVILLE. Aug. 17 —Cattle—Receipts 200 including one load bulls billed direct; salable supply slaughter cattle light: market, slow and around steady as compared with yesterday's levels: bulk common to medium grade grassy slaughter steers and heifers. $2 75® 4.25: better finished kinds practically absent: quotable fsom $5 to around $6 for strictly good light weight yearlings; bulk beef cows, $2 50® 3; practical top $3 25; more desirable kinds higher: low cutters and cutters $14,2 25 sausage bulls mostly $2 75 down: s’oekers and feeders steady; desirable Hereford. s4® 5. depending on weight and quality: common and medium natives, mamlv $2 50® 3.50. Calves —Receipts 350 including one load of stocic calves: vealer market, active fully steady •o strong: bulk better grade vealers. $5 50 *,6 few strictly choice hand picked veaiers to $6 50 heavy grass calves and meI d:um and tow er grade vealers. $4 50 down. | Hog=—Receipts. 500; market unevenly | 35® 65c higher: desirable 185-275 lbs *o.d a' a top and bulk of $6 70 highest locahv s-.-cc Aug 21 1931: 280 lbs up. $6.25: 160-180 lbs. $6: 140-155 ibs $550; 120-135 lbs. $4: sows. $4.50, grassy and unfinished hogs discoin’ed Sheep—Receipts. 700- supply light quality only fair: demand fair’.v dependable; mark*’ generally steadv bulk better trucked irf ewe and we*her iambs. $$ •, 625 some choice kinds to $8 50 bucks discounted $1: most throwouts *3 50® 4 fat ewes. sl®2 few higher stock ewe trade moderr.ately active. fiully steady: bulk. $6ft7.50 a head; some choice kihds. SB.

Finance Experts Confer on Margins to Be Used Under New Regulations Requirements for Customers* Speculative Accounts Are * Expected to Be Raised Sharply by Reserve Board Ruling. By l nitrtl Prr** WASHINGTON. Aug. 17— Admini.*tra*ion financp experts conferred today on what margins will be required under the regulations effectne Oct. 1. Conferences are under way between the securities and exchange commission and the federal board, which are charged jointly with regulation of security trading. Reports persisted that a 45 per cent margin rule eventually would be agreed upon. As revealed in recent dispatches, margin requirements at the outset probably will be close to the “standards" set in the securities exchange act of 1934.'

Most New York exchange houses now require a customer's speculative account of at least SSOO and margin requirements of 25 to 40 per cent, but the reserve board's ruling is expected to jump this figure considerably. At the same time, it was learned that the securities and exchange commission is beginning to draft a permanent regulation program, which will have “teeth in it,” to curb trading abuses. Chairman Joseph P. Kennedy issued preliminary regulations Monday, but permanent rules are expected to be much more severe, although commission members insist, that they will not harm legitimate business. Most troublesome of the new problems, is the question of trading in “over-the-counter” issues, which are not subjected to stock exchange requirements. Every effort, commission members said, will be made to prevent, bootlegging of bad securities and victimizing of the public. Confusion resulted from announcement of the* first regulations in which the commission sought the aid of stock exchanges in policine the securities market by suspending issues which do not conform to set standards. This, Mr. Kennedy explained, does not. mean that the commission will take no further action in the matter. He said new regulations, being drafted, will care for prosecution and further action against floaters of bad securities. At the same time, it was revealed, the commission intends to establish regional offices to administer details of the regulation program. The securities division of the federal trade commission with duties On Commission Row —Aug. 17Quotations below are average retail prices being offered to buyers by local commission house dealers. Apples—Fancy Delicious. $2 25; Transparents. $1.50®1.75. Peaches—lnidana. Elbertas, bushel. $2.25 ® 2.50. Plums—ltalian. V 2 bushel. $1.50. Oranges—California Sunkist. $5.25; Valencies, 54.75. Lemons —Sunkist. $6.50®6.75. Grapefruit—Florida seedless, $4 25®4.50. Cantaloupes—lndiana, bushel. $1.&1.30. Pears—Caravos, $2.50 a box. Watermelons—2s® 50c. Bananas—Pound. sc. —Vegetables— Sweet Corn—Home grown, doz.. 20c. Cabbage—Eastern. 2’,2®3c a pound. Celery—Michigan, boxes. $1.25: medium, doz., 45c. Onions—Washington yellow. 50-lb. bag. $1 65; California whites. $2.25; homegrown, $1.25® 1.50. Potatoes—Eastern Cobblers, 100-lb. bag, $1.85; Kentucky Cobblers. $1.60; Idaho Russets. 100-lb. bag. $2. Sweet Potatoes—Tennessee Nancy Halls. $2.25; New Jersey. A.abama. $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, sl.<s®2. Lettuce —Outdoor, 15-lb. basket. 85c; head lettuce, crate. $4®4.50. Peas—California, hamper, $2.70. Radishes—Ohio. doz. bunches, 50c. Spinach—Home-grown, bushel, 65c Tomatoes—Home-grown. 10-lb. baskets. 35c; bushel. sl. CHICAGO FRUIT MARKET ißv United Press, CHICAGO. Aug. 16.—Apples—Michigan Duchess bushels, 85®90c. Cucumbers — Michigan bushels, 50c®51.25. Tomatoes — Illinois bushels. 40®75c. Sweet potatoes —Tennessee bushels, $1,501.75. Peaches — Georgia bushels. $1 50W2.50. Lettuce— California bushels. s3® 3.50 Beans—lllinois green bushels, $2®2.25. Cabbage— Wisconsin crates $1®1.35. Cherries— Michigan, 16 quarts red sour. $1.7.v®2. Cantaloupe—Michigan crates, 65c®;51.00. Corn—lllinois sacks 4 dozen yellow. 25® 85c. Carrots—California crates, [email protected]. Peppers—lllinois bushels. $1®1.50. Eggplant—lllinois bushels. $1®1.15. Pears — Michigan bushels. $1®1.75. Cauliflower — Western. $1®1.40. Onion market (50 lb. sacksi: California yellows, sl.lo® 1.15; whites. $1,504,7; Washington Valencias. $1.15®1.25; Indiana whites, $1.35.

Produce Markets Delivered in Indianapolis orices: Heavy hens 11c Leghorn hens, 3c. 1934 broilers 2 lbs. and over, 13c Leghorn broilers V 2 to 2 lbs. and over lie bareback broilers 10c; old roosters. sc. ducks and geese. 3c; young guineas, 20c; old guineas. "sc; No. 1 strictly fresh country run eggs loss off 15c. 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. 30® 31c. Butterfat, 23c. Quoted bv Wadlev Companv (Bv United Prssi CHICAGO. Aug. 17. Eggs —Market, strong; receipts. 46.006 cases: extra firsts. 20' 4 c fresh graded firsts. 19 3 4 c; current receipts. 16® 18c: dirties. No. 1. 16c: No. 2. 12c checks. 15c. Butter-Market easy: receipt, 13.496 tubs; extra firsts ,90-91 1 2 score, 25' .1® 24'2c: extras <92 score,, 26' 4 c' firsts 188-89'2 score,. 24®24'_c: seconds , 86-87’ 2 score). 22®23c; specials, 26 3 4®27c: standards. 26'2C. Poultry — Market, strong: receipts, 1 car: 31 trucks; fryers 14®16 v 2 c; broilers. 144, lac. Leghorns. 14c. geese. 7® 8c; turkeys. 14c. old roosters. R'2C; hens, 14®15'jC. black chicks. 10® 12c; barebacks, 13c.; cocks, 8c; Leghorn cocks. 9c: colored springs lfic. White Rocks. 17® 18' 2 c; Plymouth Rocks. 19c; ducks. 84, 12' 2 c: colored Plvmoutn Rocks. 16c: Leghorns, 10c. Cheese—Twine, 13 1 >® 14c- Longhorns. 14'*, 14' 2 c; Daisies, 144,’ 14'->c. Potatoes—Supply ligh;, trading good, market stronger; Idaho Russets. $1 70; Idaho Triumphs. 51.70. combination grade $1.35: Wisconsin Cobblers, $1.45: Wisconsin Triumphs, $1.75 combination grade. $1.25: Ohio and Minnesota unclassified. *1.25: arrivals 40, on track 35. shipments 358. CLEVELAND. Aug 17.—Butter—Market, steadv: extras. 3372 c;0 7 2 c; standards 30 2 c Eggs—Market, steady; extra wJiite, 22. current receipts. 18c; ordinary firsts. 14c. Poultry—Market, firm on fowls, weak on springers: colored fowls. 4' 2 lbs. and up 16c; old roosters. 10c; ducks, white 5 lbs. and up 13c. Potatoes— Long Island, *1.45 1.50 a ioo-lb. bag NEW YORK. Aug. 1 . Potatoes—;Stead. . Long Island, 50c® sl.lO bag New Jersey . 90c4, $1 bag: southern. 25® 90c bag. Sweet Pota’oes -Quiet; southern, barrel, 81-50 1 $5; southern basket. 40 £f-*J 7 <£?°hl r - Steady; springs; patent. 8,., 0 <- ~90 ba. rel. Pork—Firm: mess. SI 9 - 78 barren Lard—Firm: middle west spo . $6.20 .6.30 a 100 lb? Dressed Poultry—Stead} tur * kevs 17® 32c: chickens. 9® 28c. broilers. 15® 23c; capons. 25® 35c: fowls 9® 20c: ducks. 10® 13c: Long Island ducks, 11 4® 15c Live Poultry—Steady: geese. *®7c, tufkevs. 10® 15c; roosters. 10c. ducks 8 14c fowls 14® 18c: chickens. 134,2 ac. capons 15® 20c: broilers. 14® 23c. Cneese -Firm: state whole milk fancy to 19® 20c* Young America, la®ls*2C. Butter —Receipts. 7.540 packages, market easier; creamer", hither than extras. 28'.® extra <92 score'. 284, 28- c. first <9O-91 score'. 27® 21 3 4 c first 'Bl-83 score,. 24-2 ®-2S'Vc: seconds. 23' 2 ®24c. Eggs—Receipts 6 948 cases: market, firm specia. nacks including unusual hennery selections.' 244, 27c; standards. 22® 23c; firsts. °lc seconds. I£K/19 ! 23; mediums. 18 18' 2 c; dirties. 18®18' 2 c: checks. 164, 1 ,c.

Keixkb Rosins & Company JfnVestment Securities We are interested in the purchase of high grade INDIANA MUNICIPAL BONDS INDIANAPOLIS Continental Bldg. Riley 3321 NEW YORK SOUTH BEND MUNCIE

soon to be taken over by the stock market commission, already has offices in New York. Chicago. San Francisco and several other cities. These offices probably will be expanded by the securities and exchange commission and other bureaus established.

Cash Grain

INDIAN APOI.IS Aug 16— The bids for car lots of grain a' the cal! of the Indianapolis Board of Trade, f. o. b. shipping point, basis 17'j cents to river, were Whoa' Steady: No 1 red 91® 92c: No. 2 red. 904;91c: No 2 hard. 914,92 c Corn —Steady; No 2 white 71' ®72' r No. 3 white. 70 1 24/ 71 1 -c No 2 yellow 69 4/70 t 2C; No. 3 yellow. 68'a®69'rc; No, 2 mixed, fiji'a®69*2C: No. 3 mixed. 67';V? 68'jr Oats—Strong: No. 2 white. 45®46c: No. 3 wh#!e, 44®45c Hay 'F o. b country points taking 23' ,c or less rates to Cincinnati or Louisville i —Steady: No. 1 timothy. $144, 14.50. Wheat—No. 1 red. 1 car: No 2 red. 2 cars; No 4 red. 1 car. Total. 4 cars. Corn No. 2 white. 4 cars; No. 3 white, 5 cars No 4 while. 3 cars: No. 2'yellow. 24 cars: No. 3 vellow. 29 cars; No. 4 yellow 10 cars: No. 5 vellow. 1 car. Total. 76 cars. Oats —No 2 white. 1 car; No 3 white 5 cars: sample white. 1 car. Total. 7 cars. Rye—No. 1. 1 car. Total. 1 car. Loral Wagon Wheat Citv grain elevators are paving 87 rents for No. 2 soft red wheat. Other grades on their merits Chicago Futures Range Aug. 17— Prev. Wheat— High. Low . 10 00 Close. Sept 1.01>4 1 00' 4 1 00 7 , 1 01', Dec 1.03 s , 1.02 7 , 1.03 s , 1.03*4 Mav 1.06', 1.05\ 1.05 4 1.06’ 2 Corn— Sept 75 .74', .74', .75*, Dec 78 .77', .77*2 .78', May 82 .81 .81 s , .80', Oats— Sep, 49 s , .49', .49', .49*, Dec 50 3 , 49 7 , .50’, .50 s , May 52', .51 s , .51*, 52*, Rye— Sept 85 .84 .84’, .84'2 Dec 87 86 .96*, 87 May 91 .90 1 2 .90 s , .91 3 Ba rlev— Sep, .. .75 .75'2 Dec Y2', CHICAGO PItIMARV RECEIPTS -AUg. I Bushels. Todav Last week. Wheat 669.000 881.000 Corn 1,394.000 1.438.000 Oats 252.000 297,000 (By United Press) CHICAGO. Aug. 16. —Cash Grain: Wheat —No. 2 red. $1.03; No. 2 hard, $1.07*,; No. .7 hard, $1.07® 1.07',.; No. 1 mixed. $1.06: No. 1 hard. $1.09',. Corn—No. 3 mixed. 77':,C. No. 2 yellow. 77' 24;78c; No. 3 yellow. 774/.77'2C: No. 4 yellow. 774( 77',c: No. 5 yellow, 75',c; No. 6 yellow. 76c; sample grade. 76c. Oats—No 1 white. 55' ,c; No. 2 white. 52c; No. 3 white 4.94, 50c; No. 4 white. 48',48'aC. Rye—No sales. Barley -No sales: quotable. 65c®51.10. Timolhy $16.50® 17.50. Clover seed—*l24, 16 50. Cash Provisions: Lard—sß.42; loose. $1.81: leaf. SB, Bellies—sl2. TOLEDO, Aug. 16.—Grain Close (grain in elevators, transit billing,: Wheat —No. 2 red.' sl.oo'2® 1.01*2. Corn—No. 2 yellow, 79'2® 80* 2 c. Oats —No. 2 white. 52® 53c. Rye—No. 2. 86'.,®87'ic. (Track prices, 24'2C ratei: Wheat —No. 1 red. 97 4, 97'. >C; No. 2 red. 96®96’,2C. Corn—No. 2 vellow. 75'24; 76 1 jC : No. 3 yellow. 74'24i 75'oc: No. 4 vellow. 73'2®74'2C. Oats— No. 1 white, 504, 53c No. 2 white. 49®,51c.

ILLINOIS CONSTRUCTION EXPENDITURES ADVANCE July Total 43.8 Per Cent Above Preceding Month. Bp Timet Special CHICAGO, Aug. 17.—An increase of 43.8 per cent in the total estimated expenditures for new construction during July as compared with the preceding month is shown in building reports from sixty-five Illinois cities. During the month a total of 985 permits were issued, calling for a total of $2,407.954, more than double the total of $1,154,318 of the corresponding 1933 month. Records of the Illinois department of labor covering the last thirteen years show the increase in total estimated expenditures for the month are contrary to the seasonal trend. According to the records, an average decline of more than 5 per cent is shown from June to July. Newsprint Production Gains Bp Timet Special CHICAGO, Aug. 17.—Newsprint production in the United States and Canada during July totaled 284.422 tons, an increase of 9.4 per cent over the 259.869 tons produced in the corresponding 1933 month.

WE BUY AND SELL: U. S. Government Bond* U. S. Territorial and Insular Bonds Indiana Municipal and Gravel Road Bonds Land Bank Bonds Home Owners' Loan Corporation Bonds Bonds and Stocks of Indiana Corporation* General Market Municipal and Corporation Bonds Y Indianapolis Bond and Share Corporation 129 Eoil Marks) Street Telephone Stfe/ 4551

AUG. 17, 1934

GRAIN FUTURES BREAK ON WEAK FOREIGN TRADE

Wheat Prices Decline Cent: Washington News Is Watched. BY HARMAN \V. NICHOLS United Pre* Staff Corrr*inndfnt CHICAGO. Aug. 17. —Grains <mi the Chicago Board of Trade broke sharply and drifted lower In the early trading today, influenced principally by lower foreign markets and uncertainty over Washington new*. At the opening wheat was off . to 1 cent: corn was of! 'a to 1, cents; oats was off to ■> cent, |and rye was off to l 1 a cents i Provisions were strong. Liverpool opened considerably lower than due. considering the strength in domestic markets yesterday. Traders in the wheat pits have been upset by rumors that Washington planned further restrictions on trading, f Traders believed the Chicago market sound and in a position to reflect any considerable support bv a good rise in prices. The crop is known to be shorter than the market indicates. Corn was influenced by good rains but they came too late to alter materially the prospect of a short crop. Oats were firm and met good support. Rye likewise met support although selling forced some decline, Marriage Licenses Fred Hrrthpr. 27. of 1637 Spruce Free advertising, and Rertha Whitaker. 25, of 1410 Spaan avenue, window clerk Llovn Montgomery. 30. R R 7 Ro\ 277. farmer, and Katherine Mounts. 38, R. R, 7, Box 272, housekeeper. Wilbert Hartmann. 24, of 210 North Omron street, storr manager and Valeria Borienberg. 25. of 302 South Harlow street, housekeeper. Arthur Moore. 31 of 110 West North street, salesman and Ruth Ash. 18. nt 3602 East Washington strrei. housekeeper Preston Smith. 2t. of 1017 North Tecumseh street, landscaper, and Hazel Chapin. 18 of 1328 North Capitol avenue, housekeeper. Monroe Wand. 22. of 518 Orovei street, packer, and Mary Hmman. IR. SIR Burn street, housekeeper. Raymond King. 22. Evansville, printer, and Phyllis Jones 20 of 2175 Nor'h Harding street, housekeeper. Lloyd Yeager, 33. R. R. 4 Box 193. jeweler, and Dora Surface. 27, R. R. 6. Box 539. surgical fitter Births Girls Glenn and Blanche Fisher. 1321 East Michigan. Orville and Florence La wry. 1057 South Pershing. James and Kathryn Campbell. 908 Budsal Daniel and Gorgee Shelton, 928 Paca Leo and Mary Vachet, 1232 Carrollton. Roys Fredrick and Anna Mootz. 2029 Winter. William and Juanita Saner, 1728 Columbia. Wilev and Anna Senteney, 728 West Twenty-seventh. F.dward and Eugenia Harrell, 2519 Boulevard place. Elmer and Maude Lockard. 2724 Wood. John and Maxine Dugan. 605 Soutn Randolph. Deaths Mary Bush, 76, of 756 Center, chronic myocarditis. Laura E. Cook, 64, of 36 North Denni, carcinoma Wilhelmina Katherine Prangc, 75, of 3311 Broadway, arteriosclerosis Virginia Carrol Tooley, 11 mos., citv hospital, acute enteritis. John C. Trimble. 91, of 1010 South Alabama, arteriosclerosis. Ella Mary. 61. Methodist hospital, pulmonary embolism. Mary Ann O'Connor. 56. St Vincent‘a hospital, acute dilatation of heart. Otis B Pulliam 51, city hospital, chronic myocarditis. Robert E. Burt, 28. of 1220 North State, carcinoma. Lisle E Wishart. 58. city hospital, pulmonary tuberculosis Frank Stewart, 41, of 1215 Healing, accidental. Mabel Carter Seaton. 50. of 3015 North Capitol, appendicitis. George Beasley, 69. of 1346 West Rav, acute myocarditis Nora Douglas. 53, of 624 Coffev, acute cardiac dilatation. Maltha Owens, 55. of 408 West Fourteenth, dysentery. Fisher Plans Expansion l!H ’I inirX Special DETROIT. Aug. 17.—A total of $3,000,000 for additional plant .space, rearrangement of production facilities and new equipment is being spent by the Fisher body division of General Motors Corporation. Active Tradivg in U. S. Government Securities Municipal Bonds Land Bank Bonds Gravel Road Bonds General Market Securities m Direct, Private , Wire to Principal Markets lnvtm,n I I’/ L i Stcurfflot w Pfaff 8 Hughel IMCOtPORATEo Chicago, Ft. Wayne, Evansville INDIANAPOLIS Illinois Bldg., Lincoln 2566 IHBH*’ General Banking Courteous, dependable service Bankers Trust Cos. AT'* Moderate First Mortgage Loans on Improved Indianapolis Real Estate The Indianapolis Morris Plan Company Delaware and Ohio Sts. RI-1536 BE SAFE lour Cur Today @&£|raStatß Automobile Insurance Ais’n. Ll. 8571, 7th yioer,