Indianapolis Times, Volume 46, Number 90, Indianapolis, Marion County, 24 August 1934 — Page 24

PAGE 24

Wall Street New Vice-Governor of U. S. Reserve Board Is Lawyer. —BY RALPH HENDERSHOT—Timet Special financial Writer

¥. J. THOMAS, the newly appoint* ** ed vice-governor of the federal reserve board, is virtually unknown In Wall Street. That may or may not account. In part at least, for his appointment. He is a lawyer rather than a banker, and his best work, according to the meager reports reaching News York, appears

to have been j done as chair- j man of the Demo eratic state political machine of Nebraska. The Street, how e v e r. was j not inclined to' view with alarm his appoint mentas temporary head of the country’s central banking

A I

Hendershot

system. One banker who has been brought into contact with the Nebraska lawyer, characterized him as a "rational human being.” He said he would not regard him as either radically or conservatively inclined. The position of vice-governor or even governor of the Federal Reserve bank is not considered in the financial district as being a very important post these days. The ; board, it is said, is being dominated I by the treasury department, which. I in turn, seems to be taking orders ' from President Roosevelt. And the bankers in the Street have become , resigned to their status of unofficial observers. nan IT is becoming apparent that bankers in the financial district 1 are more inclined to co-operate with the administration than they j have been for some time. Appar- j ently they have become convinced ; that even though they can not be generals it is to their advantage to get out on the firing line as "buck'' privates. But the bankers are not the only ones who have made concessions. The better co-operation is the result largely of a compromise, in which the bankers gave less ground than did the administration. They are extending more credit to industry. but they are getting, in effect, government guarantees on these loans. Under the circumstances they can well afford to co-operate. n n n IT remains to be seen, of course. how many loans can be made to industry. At first perhaps such loans will be limited to so-called border-line cases, or cases where the risks were just a trifle too great to be taken by banks under ordinary circumstances. These loans will constitute just so much more "priming for the pump.” If they ■ are effective m stimulating trade it is reasonable to suppose that the betterment in itself will bring up new "border-line” cases. Aside from the guarantees which have been, in effect, granted there are two other mi port ant reasons why bankers are eager to co-oper-ate. They have more money than they can loan under rigid banking practices. The inactivity of these funds has cut into their earnings materially. The second reason is that they fear new banking legislation. and they reason that this may be tempered to some extent if they indicate that they are willing to “play ball.” RAINFALL AIDS STATE CROPS DURING WEEK Southwestern and Western Central Fields in Best Condition. Drought conditions in the central and northern parts of the state were broken by rains during the early part of the week ended Tuesday, according to reports of the United States department of agriculture. Local crops were much improved by moderate to heavy precipitation. Growing crops throughout the state were materially aided by the moisture. Corn, which was badly drought stricken, is being silaged or cut for fodder in many sections. Southwestern and west central j crops are m the best condition of any in the state, due to a better mixture of ram and warm weather. Late potatoes, sugar beets, miscellaneous truck gardens and field tomatoes are reported in excellent condition. Tobacco var-s also are reported doing well, and plowing for fall seeding has become much improved under the improved soil conditions. U. S. PICKS LOAN FIRMS 3.155 Companies Accepted for Housing Projects. By Vni*r4 Press I WASHINGTON. Aug. 24—The federal housing administration today reported that 3.255 financial institutions have accepted contracts of insurance under the administration's modernization plan. These institutions, with ability to serve 114,986.011 persons, have total resources of $21,586,214,000. N. Y. Coffee Sugar Futures COFFEE —Au(. 23 —Sen to—■ High. Low C'.<V B Kirch 11 M 11 07 11.07 Js,v Hl3 11 C7ll 13 Z.v nil nli nl* SeV.srtftmr MM MM December 1105 UOO 1105 —Bie— January ~, * *7 Star ■ 25 J2B Julv _ * 7* September ■55 ;PO .95 December 8 13 8 09 8 13 SI GAB High. Low Close January ••••••>••*• 177 Mart* IB 181 183 Mar 1 88 1 85 1 87 dewier 25 J S }*l In the Cotton Markets —Aug 23 CHICAGO High Low Close January 13 13 42 13 49 tlTrch 13 81 13 53 13 81 Mav 13 69 13 80 13 89 October 13 29 13 20 13 Derelrhar 45 H l3 43 HEW YORK January 13 45 13 35 13 44 Mereit 13 56 13 48 13 55 Mv 13 65 13 54 13 85 jEtr 13 71 13 63 13 71 Oc+m 13 26 13 13 13 24 DeieSbr .... 111 13 28 13 38 HEW ORLEANS Jan jhfT 13 42 13 35 13 41 MuF 13 50 13 44 13 51 Mar 13 80 13 54 13 58 Julv 13 64 October 13 21 II 10 13 28 December 1248 1347 13 34

PACKING ISSUES, SPECIAL STOCKS FEATURE_TRADE Shares Advance Fractions to One Point; Armour Hits New High. BY ELMER C. WALZF.R t niteg Fre.t Financial Editor NEW YORK, Aug. 24.—Packing issues and special stocks featured trading on the Stock Exchange in the early afternoon dealings today. Utilities, strongest and most active in the morning, turned quiet but held gains ranging to more than a point. Wilson issues were bid up in the packing group, where Armour preferred new stock made anew high for the year at 63, up %. Demand for packing issues followed another rise in hog prices to anew top for several years. Sucar shares met profit-taking as the time arrived for signing the Cuban sugar agreement. Tobaccos were firm, as were farm equipments, motors, some of the building issues and mail order shares. United States Steel held at 34%, up %. ancl American Telephone off Li. Oils were steady. Among the more active special issues were United Fruit, which crossed 74 for a gain of more than a point. Canada Dry, Spiegel May Stem and Hazel Atlas Glass were up substantially. Money and Exchange INDIANAPOLIS BANK CLEARINGS —Aug. 24 Clearings *1 890400 00 Debits 3 834.000.00 FOREIGN EXCHANGE (Bv Abbott. 'Hopptn & Co.l —Aug. 23 Close. Sterling England *5 08's Franc France .0669% Lira. Italv 0871 Belgias. Belgium 2385 Mark. Germany 3970 Guilder. Holland 8880 P<“-eta. Spain 1388 Krone. Norway 2558 Krone. Denmark 2274 Treasury Statement >Bv United Presst WASHINGTON. Aug 24—Go 1 ernment exDen-es and receipts of the current fiscal year to Aug 22 compared with the corre ponding period of the previous fiscal year: This Year. Last Year Expenses . $ 818.874 814 38 *528.217 176.99 Receipts ... 435 203.501.53 311.235 763 40 Deficit ... 383.671.312 85 216.981 413 59 Cash bal. . $2 233.710.899 49 Investment Trust Shares (By Abbott. Hoppin St Cos.) —Aug. 23 — Bid. Ask. American Bank Stocks Corp 1.01 1.05 American Ac General Sec A .. 3.50 450 American Ac Inv Tr Sh 1.75 Basic Industrv Shares 3.07 3.12 British Tvpe Ini Tr Sh 36 .44 Collateral Trustee Shares A 4.25 4.37 Corporate Trust Shares iOld 191 196 Corporate Trust Shares iNewi 2.17 2.21 Cumulative Trust Shares . 372 380 Diversified Trust Shares A .. 6.25 Diversified Trust Shares B . 725 750 Diversified Trust Shares C .. 283 2.90 Diversified Trust Shares D .. 425 4.37 First Insurance Stock Corp .. .50 .87 First Common S'ock Corp .. .53 .57 Fixed Trust Oil Shares A ... 7.50 .... Fixed Trust Oil Shares B ... 650 Funoamental Investors Inc .. 183 201 Incorporators Investments ... 16.37 16 62 Land Bank Bond Shares .... 1.14 1.27 Low Priced Trust Shares 5.25 537 Mass In' Trust Shares 18 32 19 91 Nation Wide Securities .... 308 3.17 North Am Tr Shares < 53) -.. 180 North Am Tr Sh '55-56i 220 224 North Am Trust Shares isßl 222 227 Selected American Shares 225 Selected American Shares Inc 1 02 1.11 Selected Cumulative Shares . 596 Selected Income Shares . 309 3.50 Std American Trust Shares A 272 282 Trust Shares of America ... 267 270 Trustee Std Oil A 537 5.62 Trustee Std Oil B 4 87 5 00 IT S Electric Lt & Pwr A 1137 11.87 Universal Trust Shares ... 282 2.87 Daily Price Index >Bv United Press) NEW YORK. Aug 23 —Dun & Bradstre-* s dailv weighted price index of thirty basic commodities compiled for the United Press: 11930-1932 Average 100. Todav 'new 1934 high) 120.14 Yesterday 119 90 Week Ago 118 94 Month Ago 118.94 Month Ago 115.17 Year Atro (Aug 24t 101.44 1934 High ' Aug. 231 120 14 1934 Low ijan. 3> 101.05 Copyright. 1934. bv Dun & Bradstreet. Inc. Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers A 25-cent carrying charge ner ton will be added DOMESTIC RETAIL PRICES Antnracite *13.50 Brazil Lump 590 Brazil Egg 590 Brazil Mine Run 525 Coke. Nut Sire S 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 825 Pocahontas Egg 8.35 Pocahontas Mine Run • *0 New River Smokless .. 8.25 Births Boys Jessie and Jennie Holmes. 848 South Belle Vieu John and Edna Beyl. 417 Parkwav James and Thelma Beach. Coleman hospital. _ . Dean and Lucille Branham. Coleman hospital. _ rfenrv and June Caughlin. Coleman hospital . _ , Willard and Blanch Decker. Coleman hospital. Earl and Julia Lundv. Coleman hospital. , Pansv and Pauline Smith. Coleman hos- ' William and Francis Looper. 912 East Thirteenth _ Phillip and Filly Harris. 835 West Elev,n Harrr and Vera Thomas. 110 North Sherman. Girls Earl and Laurel Gray. 938 West Twentyninth. Harrv and Luella Fox 3522 Prospect. Lester and Gladys Beechler. Coleman hospital. . _ , , Louis and Dovle Criffice. Coleman hos- ’ Walter and Violet Griffin. Coleman hospital. _ , Dudley and Ruth Hanson, Coleman hospital _ , Shirley and Gladys Harsln. Coleman hospital. _ , George and Muriel Lvnn. Coleman hosPltftl. George and Flivia Mezorden, Coleman hespita: ... , William and Mvrtle Neville. Coleman hospital. Clarence and Mav Ratliff. Coleman hosP *George and Louise Wise. 1454 Sauley. Carl and Sylvia Singleton. 3209 West Michigan. Jam£s and Bernice Wellington. 1138 North Tremont. . _ Charles and Eta Rybolt. 959 East Georgia Pale and Sadie Hart 337 North Pine. Gilbert and Laura Hall. 526 Mvrtle Da-, 'd and Dorothy Hodge. 1003 West New York Frank and Eleanor Cardis. 831 North Keystone. Deaths Catherine Van Vactor. 17. Coleman hospital. pulmonary edema Nancy Chase. 2 mos.. city hospital, acute enteritis. Oscar Smith. 6; of 1610 East Twelfth. mnra; regurgitation New on M Campbell. 83 of 1005 Fletcher. acute cardiac dilatation. Emma E Schlecker. 36. of 1035 Elm. sarcoma C Her.rv A Brinkley 7J city hospital, general peritonitis Henry A Refiner. 72 of 437 North Seville, chronic myocarditis. Plumbing Permits Frevn Bros . Eighth floor Traction building lour fixtures. C A Carlisle Company. 323 North Warman one fixture. C Freiner West Eighteenth street and rat'road: four fixtures F Cross 2404 Broadway; two fixtures. J W. Harrell. 825 Greer; two fixtures. Rav Biauvelt. 2130 East Tenth; two fixtures Ray Mason -Schenck. 355 South Hamilton. fit* fixtures.

New York Stocks Bv Abbott. Hoppin & Cos. ———————

AVERAGE STOCK PRICES FOR WEDNESDAY Net High. Low. Close, change. Thirty industrial* 94.97 93.64 94.05 —.27 Twenty rails 37.58 36.92 37.14 -.10 Twenty utilities 21.22 20.87 21.08 -.04 Forty bonds . ••• 93.18 -.03 Ten first rails •••• 100.21 —.13 Ten second rails •••• •••• 76.15 -V.JB Ten utilities .... •••• 98.80 .15 Ten industrials •••• 97.57 -.23 -Off.

—Aug. 24 Prev. High. Low. 10 00. close. Oila— Amerada ♦?% Atl Rfg 25% 25% Barnsdai! 7 7 Consol Oil • Corn of Del 18 N -8 Houston mew) J Houston (old* J®, Mid Cont Pet Ohio Oil J®:* Pet Corp • • }9,‘ Phillips Pet ... 16% 16% 16S 1® Plymouth Oil ", Pure Oil * Royal Dutch "J, Sbd Oil 2 ?.‘ Shell Un 7% 7% Sor Vac 15,* SO of Cal 34% 35 . S O of N J *5 45 Sun Oil ®“ Texas Corp Tidewater • Un Oil of Cai Steels— Am Roll Mills .. ... I®. Beh Steel 29% 23% 29'. 29; 2 Bvers A M 18% 18 2 Col Fuel St Iron Cruc Steel 21% Inland Steel ... 41 39 Ludlum Steel .... ... ••• ijj'.a McKeesport Tin ®9 Mid Steel Na’l Steel 41 :i Otis Steel - 5 Rep Iron & Steel 14 s . 14 3 / Rep Ir St St pfd 44 44 U S Pipe & Fdy 21 U S Steel 34% 34'. U S Steel pfd 8® Warren Bros , ,4 = Yngstown S& T 17% 175a Motors— Auburn 23 23'. Chrysler .. 34% 34 Gen Motors pfd I®lJ 2 Gen Motors 31 30 b Graham Mot • 1* Hudson 9 8% B'* 9 * Hupo 2‘a Nash I*., Packard 2* Reo 2-, Studebaker Motor Access— Bendix 13 13 3 a Borg Warner 22 22 . Briggs ULa 17% Butfd Wheel J 5/. Eaton Mfg .. ••• 1® Elec Auto Lite 20’. 21 Houdaille A 4„ Mullins Mfg pfd 2T' t Murray Body ®.* Stew Warner Timken Roll 29'' 2 29 2 Timken Det Axel 6'a Mining— Alaska 20 19’a Am Metals „„„ 20 3 . Am Smelt 333.8 3 . 38 a Anaconda 12 3 / 12_4 Cal & Hecla J 3 . Cerro De Pasco 4040 Dome Mines J3 a Gt Nor Ore 11, Howe Sound jjj a Int Nickel ... • 25 3 . 26 Kennecott Cop . 19 3 4 19 3 a 19 3 s 20 Mclntyre Mine 46 5 . 4i|4 Noranda Cop .... ... 43 43 /4 Park Utah ••• ’ Phelps Dodge J 3 ,, St Joe Lead If 3 * U S Smelters 135*. Vanadium 1® 2 Amusements— Fox Thea ... ••• 12*. Loews Inc z ® 8 Radio Corp ®, ®, RKO 2* 2 '2 Warner Bros 4Va Tobaccos — Am Snuff ®* , Am Sum Tob Wa Am Tobacco A 41., Tm Tobacco B 77‘/4 70.4 Ligg k Myers B 97 4 Lorillard 18V4 18 4 Reynolds Tob 8.. ••• ••• 40,8 Ra ils— Atchison 52 52J'. Atl Coast Lines , 31‘2 B & O J® 3 * Ij’ B Can Pac 14U H’ a Ch & Ohio ...1 44 44 Chi & Gt W l>/ 4 Chi & Gt W pf 5 C M & St P ! C M & St P pfd 5>4 Chi N W 6* 6f Chi N W pfd 12 2 Dela St Hud }2|a Del Lac & W ;• I 7 3 Grt No pfd 16*4 J®.. 11l Central 17T. 17’. K C Sou ® 3 4 Lehigh Valley JJ Lou & Nash 4 §1 2 M K & T ,® 5 a M K & T pfd 17 Mo Pac 3 Mo Pac pfd 4 8 N Y Cent 22Va 22’a N Y Chi St S L 14 N Y C & S L pfd 23 N Y New Haven }i * Nor Pac 19 Penn R R 24V. 24 3 . Reading . •• 44 8 Sou Pac 18 s . IBV2 18 s . 18 a Sou R R *4,* Sou R R Pfd 20 3 4 Union Pac 102 I®2 Wabash ••• •- - * West Maryland ... ... 10 9"a Equipments— Allis Chalmers 13!a 14 Am Brake Shoe 24 Am Mach & Fdy }4 Am Steel Fdy 15, Bald Loco 8 2 BV2 Burroughs 12'/s 12 Case J I 42 3 /a 42*4 Cater Tract *,< Deere & Cos I® 3 * Elec Stor Bat 38 Foster Wheeler 13 3 . Gen Am Tk Car ?4 2 Gen Elec Gen R R Sig 29 1 a Int Harvester 28 Natl Cash Reg. 14*.a Pullman Inc 41 3 * 4r< Rem Rand 8 1 . Und Elliot 47 West Air 1B) 18*4 Westingh Elec •. 33 2 Worthington P 19 19‘s I'tilities— Am At For Pwr . 7 s . 7'i 7 s . 7*i Am Pwr & Lit . 55, SV s s . 5' a AT&T ... • 112*4 112 3 4 Am Wat Wks .. 17 1 , 17>. 17’. 17'2 Brook Un Gas . . 61, 61* a Col Gas & Elec 10*. 9 3 4 10>4 9 3 4 Col G <sr E pfd 6® 66 Com St Sou .... • I s . I t Consol Gas . . 28 1 , 28' 4 28 7 28'. Elec Pwr & Lt.. 4', 4 3 , 4 s . 4U E P * L pfd . 10'a 9' 4 10'a 9*4 Int Hvdro Elec . 5*4 s*. 5'4 4 s , Int T & T 10 3 . 10 3 4 Lou G Ar E A . . . •• 15 * Nat Pwr St Lit . B'a 8 3 , B'a B>a North Amer ... 15 14U 14*. 14 Pac G& E 16 15’, 16 la 3 4 Teoples Gas .. 28'. 26 3 . 28' 26 Postal Tel pfd . 16' 4 lo 3 4 Pub Sen N J .. 34' a 34>, 34'a 34 So Cal Edison . 14', 13 3 4 14'. 13 3 4 Std Gas .... 9'. B’. 9'% B’. Std Gas pfd 9’. 9', B’, 9 Stone St Webster 6' 2 6 3 , 6' 2 6 3 k United Corp ... . **, 4 Un Gas Imp . 15 1 a 15 1 . 15'a 15 1 w Ut Pwr St Lit “A" 2'* 2' 4 Western Union 333.6 3 . 37' t Rubbers— Firestone ... 15*. 16 Goodrich 11N 11‘4 Goodyear 23’. 24 Kellv Spring 2 U S Rubber 17 3 , 17 s . U S Rubber pfd 40*. 40 Miscellaneous— Am Bank Note . .. ... • 14'a Am Can 99 98’s Anchor Cap Brklvn Man Tr 43'. 43 3 4 Conti Can 82V, 82 U Crown Cork 24 s , Curtis Pub 19'2 Curtis Pub pfd 82'2 Eastman Kodak 100 Gillette 11% ll* = Glidden 25 s , 25% Inter Rapid Tr 13*. 13 Owens Bottle 71 Ravbestos Mfg 18 s . Foods— Am Sugar 69 Armour 6 8 Beatrice Cream • 16‘4 Borden Prod .27 26% 27 26': Cal Packing 40% Canada Dr G A .if' 2 Coca Cola 131 Cont Bak A 8 Corn Prod *1 Crm of Wheat 32'. Cuban Am Sug 7% 7% Gen Foods 30 30 Gold Dust 18'2 18% G W Sugar 33 33% Int Sait 30% Loose Wiles ••• ••• JJ ' Natl Biscuit , • , • 2 Natl Dairy Prod L 3 . 1• *• l< s a 17% Purity Bak 10 8 S Porto Rico 36% Spencer Kellog • ;®, Std Brands 2®'a 20% Cn Biscuit 23 United Fruit *3 Retail Stores— Asso Drv Gds 11*4 11% Best * CO “ s *3, First Natl Stores 63_Gimbel Bros 3% Gr Un Tea 5% . Hahn Dept Sts 4% 4 3 4 Jewel Tea • • 48 Kresge S S 18% 18% 18% 18% Kroger Groc 23% 28% Macv R H 4040% Marshall Fields 11% Mont Ward .... 24% 24% 24% 24% Natl Tea 10 s . 10% 19% 10% Safewav St 48% 48 Sears Roebuck _ 3,% Woolworth .. ••• 50 3 . 50 3 , Aviation— Aviation Corp 4% Curtiss Wright A Bs.8 s . Douglas Air * 18% Nor Am Av .. ... •• 3% Speerv Corp 8% 8% United Aircraft 14% Wright Aero ... .. ... ... 46% Chemical*— Air Reduction- .... ... ... 99 AlUed Chem ... ... 131%

THE INDIANAPOLIS TIMES

Am Com Alcohol 28 28% Col Carbon . . . • . 68’, Com Solvents .. ?V, 21% 21 % 21% Dupont 92% 92% 92% 91% Freeport Tex 30% 30% Liquid Carb 22% Math Alkali 29% Montosonta Chm 53 Natl Dis inew) 20% 20% Schenlev Dist . . 21% 21’. Tex Gulf Sulph 35% 35% 35% 34% Union Carbide ... ... 43% 43% U S Indus Ale 4040 VirgChm6%pfd 19 s . Drugs— Cotv Inc 6% 5% 6% 5% Lambert .. ... ... 25% Lehn A: Fink 15 Un Drug ... 13% Zonite Prod 4% Financial— Adams Exp ... Allegheny Corp 2% Am Int Corp 7% Chesa Corp 40% Lehman Corp ® 9 % Transamercia 5% 6 Tr Conti Corp 4% 4% Building— Am Radiator •- 14% Gen Avhalt.... 17% 17% 17% .• Int Cement ... 47’, 47’. 47’. 22 s , Johns Manville 47% 47% 47% 47% Libbv Owens Gls 29 Otis Elev 1® Hnusehnld— Col Pal Peet 15% 15% Congoleum .... 29% 29 29 29% Kelvinator 13% 13% Proc St Gamble 39 Simmons Bed 11% Textiles— Amer Woolen 9% Bldlng Hem Celanese Corp 21 21% Collins Aikman 12% Gotham Hose .... ... ... 5% Indus Rayon 24% New York Curb (By Abbott. Hoppin & Cos.) —Aug. 23 Close.l Close. Allied Mills ... 7%lGlen Alden Coal 20% Am Beverage . 1% Gulf Oil cf Pa. 57% Am Canide B . 18% Hiram Walker.. 27% Am Gas & El 23% Humble Oil ■••• 43% Am Superpower 2 j Imperial Oil Ltd 15V. Asso Gas &t El. % l Hud Bay Min... 15 Atlas Corp . . . 9% Int Petrol 29% Brazil Tra St Li 11% Lake Shore Min 56 Can Ind Ale A B’siLibby McN Lib. 7% Can Marc I%'Lone Star Gas 5% Carrier Corp .. 8% Natl Bellas Hess 2’* Cities Serv . 2 Newmont Min.. 47 Commonwe Ed. 48 Nia Hud pwr . 4% Cord Corp .. 3% Pan Am Airway 37 Creole Petrol.. 13 Penn Road .. 2% Deere & Cos . 16% St Regis Paper. 2% Distillers Lim . 22’,. Sal Creek Prod. 6 Distillers Corp. 14 Std of Ind 27'4 El Bond & Sh . 11% Teck Hughes Go 7% Fisk Rubber .. 8% Un Gas 2% Ford of Can A 20% Un Pwr & Lt A 2 Gen Aviation.. 3%,Wr Harg Min .. 10%

Chicago Stocks

—Aug. 24 High. Low. 11:00. Bendix Aviation 13% Berghoff Brew Cos 5% Bork Warner 22% E. L. Bruce Cos 5% Butler Bros 8% 8% 8% Chicago Corp com .... 2Vg 2 2% Commonwealth Edison. 49% 48% 48% Cord Corp 4 Marshall Field St Cos 11% Libbv-McNeil 7% Perfect Circle 27 Public Service N P.... 14'4 14 14 Swift & Cos 19% 19% 19% Swift International .... 37% 37% 37%

Bond Prices Bv Fenner St Beane " —”

—Aug. 24High. Low. 10:00. Alleg Corp 5s ’SO . 27% Am & For Pwr 5s 2030 53 52 53 Atchison gen 4s ’95.... 102 104% 102 B & O cv 4%s ’6O 58% 58% 58% C MSt P&P ad.l 5s A2OOO 9% 9 9% CMS PArP rs 5s A 75. 30% 30'% 30% Cons Gas N Y 4%s ’sl 102% Denmark 5%s 55 91% Det Ed 5s E ’52 107% Erie R R rs 5s '67 ... 68% Goodyear 5s ’57 101% 101% 101% Gt Nor 7s A '36 90% Interboro R T 5s ’66 74'% Int T St T db 5s '55 . 60 59% 60 McKess & Robb 5%s ’SO . 81% Nat Dairy db 5%s ’48.. 99 98 % 99 Nor Am 5s '6l 85% 85 85% Pac Gas & El 5s A '42 . .. ... 106% Texas Corp 5s '44 . 102% Tob Pr N J 6%s 2022 .106% 106% 106% U S Rubber 5s (A) ’47.. 85 84% 85 U. S. GOVERNMENT BONDS (Bv United Press) NEW YORK, Aug. 23.—Closing liberties, iDecimals represent thirty-seconds.) —Liberty—--3%s (32-47) 103.6 First 4%s 132-47) 103.6 Fourth 4Vis (33-38) 103.26 —Treasury—--4%5-3%s (45) 102.2 4%s (47-52) 112. 3%S (43-47) 103.11 3%s (41-43) March 103.29 3%s (40-43) June 103.23 3% s (43) 103.28 3%S (46-49) 101.13 3s (51-55) 100.10 FEDERAL FARM LOAN BONDS i,By Bloth & Cos,, Inc.) —Aug. 24 Bid Ask 4s Julv 1, 1946—44 97% ’ 93% 4s Nov. 1, 1957—37 97% 98 4s May 1. 1958—38 97% 98 4%s July 1. 1956—36 97% 98'% 4%s Jan. 1, 1957—37 98 99 4%s May 1. 1957—37 98 99 4%S Nov. 1, 1958—38 98% 99% 4%s Mav 1. 1942—32 98% 99% 4%s Jan. 1. 1943—33 98% 99% 4%s Jan. 1. 1953—33 98% 99% 4%s Julv 1. 1953—33 98% 99 4%s Jan. 1. 1955—35 98 99 4%s Jan. 1. 1956—36 98% 99% 5s May 1. 1941—31 100% 100% 5s NOV. 1. 1941—31 100 % 100% Home Loan 3s Mav 1. 1952—44 97.30 98.04 4s July 1. 1951 98.09 98.16 Federal Farm Mortgage Corporation 3s Mav 15. 1949—44 98.04 98.14 3'4? March 15. 1964—44 ... 100.04 The later foutr quotations are in thirtyseconds. New York Bank Stocks (By Abbott. Hoppin & Cos.) —Aug. 23 Bid. Ask. Bankers 57 57% Brooklyn Trust 86 89 Central Hanover 123% 124% Chase National 25% 25% Chemical 40% 41 National City 23% 24 Corn Exchange 47% 47% Continental 12% 12% Empire . 17% 18% First National 1,535 1,545 Guaranty 327% 329% Irving 15% 15% Manhatten St Cos 28% 28% Manufactures 19% 20% New York Trust 96% 97% Public 29% 30 Marriage Licenses Flovd Roush. 37. of 1512 North Alabama street, meat business, and Alama Pettijohn, 25. of 2428 Brookside parkway, clerk. Oscar Lillard. 24. of 1217 Fouth Illinois street, hotel clers. and Muriel Patterson, 19. of 526 North Riley avenue, maid. Frank Howard. 23. of 3308 North Illinois street, clerk, and Ruth Ragsdale, of 3308 North Illinois street, saleswoman. Charles McCaulev. 42. of 1218 Prospect street, shoe repairing, and Eula Bledsoe. 44. of 2179 North Pennsylvania street, telephone operator Joe Landers. 60. of 109 West St. Clatr street, barber, and Jennie Bridgewater. 51. of 1142 East Ohio street, laundress. Donald Fargo. 21. of 509 North Illinois street, bookkeeper, and Rose Doll. 19. of 32 North Oakland avenue, housekeeper. Norman Hutchinson. 26. of 2702 North Gui'ford avenue, laborer, and Thelma Fisler. 19. of 5026 Central avenue, housekeeper. J R Marshall. 21. of 306 South Hamilton avenue doctor, and Flossie Lisler. 25. of 306 South Hamilton avenue. Real Silk employe Earl Tafr. 32. Morgantown. W. Va. glass factory employe, and Catherine Mary, 28. of 1445 Union street, housekeeper. Ralph Sharke 24 of 4815 East Washington street, socia' worker, and Elizabeth Shop. 23, of 5872 Rosslyn avenue, social worker. Theodore Losche, 24, R. R 6. Box 462, commission merchant, and Frieda Heldman. 19. of 205 West Troy avenue, housekeeper. Tnurman Bond. 28. Ft Harrison, soldier, and Hazel Shouse, 18. R. R. 15, Box 702. housekeeper Douglas Hall. 27, of 516 Sutherland avenue unemployed, and Adeie Triller. 24. of 27 East Thirty-third street, housekeeper Garland Miller. 21. of 2007 Bellefontaine street, delivery man. and Claire Winkle. 18. of 42 North Holmes avenue, factory worker. Michigan Employment Gains Bn Times Special DETROIT, Aug. 24.—The state department of labor and industry reports employment in 1,074 Michigan manufacturing plants on July 15, was 380,300 persons, or 37.3 per cent above July, 1933.

HEAVYWEIGHT HOGS STEADY ATJjITY PENS Others Up 10 to 50 Cents; Cattle, Sheep Firm; Veals Higher. Prices of heavyweight hogs at the Indianapolis yards today, for the first time in more than two weeks, failed to advance. The prices, however, held steady with yesterday's session, ranging between $7.40 and $7.50. A few choice kinds were quoted at $7.55. Underweight hogs continued their advance, however, weights under 160 pounds being 10 to 50 cents higher. Medium weights brought sellers prices of from $7.35 to $7.40, lightweights $6.45 to $6.65 and lightlights $4.50 to $5 90. Packing sows brought $5.75 to $6.75. Receipts in the swine market totaled 5.000 and holdovers numbered 434. Cattle also held steady with the previous session, choice heifers being quoted at around $7.25. Other kinds were mostly low grade stock in small lots. Receipts numbered only 600. The veal market showed new strength, prices being generally 50 cents higher, the bulk selling at from $7.50 down. Receipts totaled 500. Receipts in the sheep market totaled 900. Lamb trade was steady with the previous session, good ewe and wether kinds selling at from $7.25 to $7.50, with bucks being $1 less. Throwout sheep were $4.50 to $6. Hog trading at Chicago was slightly higher than yesterday's average, bidders offering mostly 10 cents more for good heavyweights than in the previous session. Receipts totaled 8.000, including 3.000 direct. Cattle receipts totaled 2,500 commercial and 4,000 government stock and calves receipts were 500 commercial and 3,000 government. The market opened steady. Sheep receipts were 6,000 and the market steady. Aug. Bulk Top Receipts. 18. $6.60 (a 6.75 $6.80 2,000 20. 6.85® 6.95 6.95 4,000 21. 7 00® 7.10 7 10 5.000 22. 7.20® 7.25 7.25 4.000 23. 7.40® 7.50 7.50 4.500 24. 7.40® 7.50 7.55 5,000 Market Higher (140-160) Good and choice ..$ 6.40® 7.00 —Light Weights—-(l6o-180) Good and choice ... 7.30® 7.40 (180-200) Good and choice ... 7.35® 7.45 —Medium Weights—-(2oo-220) Good and choice.... 7.40® 7.45 (220-250) Good and choice .... 7.40® 7.50 —Heavy Weights—-(2so-290) Good and choice..., 7.45® 7.55 (290-350) Good and choice ... 7.30® 7.50 —Packing Sows—-(27s-350) Good 6.40® 6.75 (350-425) Good 6.25® 6.65 (425-550) Good 5.25® 6.00 (275-550) Medium 5.50® 6.25 —Slaughter Pigs—-(loo-130) Good and choice.... 4.90® 5.90 CATTLE Receipts, 60(1; Market, Steady. —Steers—-(sso-900) Choice $ 6.75® 8.75 Good 5.75® 7.50 Medium 4.25® 6.25 Common 2.75® 4.25 (900-1,100) Choice B.oo® 9.50 Good 6.75® 8.50 Medium 4.50® 6.50 Common 3.00® 4.50 (1.100-1,300) Choice 8.50® 9.75 Good 6.75® 8.50 Medium (1.300-1,500) Choice 9.00®10.00 Good 7.50® 9.60 —Heifers—-(sso-750) Choice $ 6.75® 7.50 Good 5.50® 6.75 Common and Medium 2.75® 5.50 (750-900) Good and choice .. 5.50® 7.50 Common and medium 2.75® 5.50 —Cows— Good 3.50® 4.75 Common and medium 2.50® 3.50 Low cutter and cutter ....... 2.50® 3.50 —Bulls—(Yearlings excluded) Good 3.00® 3.50 Common and medium 2.00® 3.00 VEALERS Receipts. 500; Market, Higher. Good and choice $ 7.00® 7.50 Medium 4.50® 7.00 Cull and common tv 2.50® 4.50 —Calves—-(2so-500) Good and choice .. 4.50® 6.00 Common and medium ... 2.50® 4.50 —Feeder and Stocker Cattle—(Steers) (500-800) Good and choice... 4 00® 5.25 Common and medium 2.50® 4.00 (800-1,050) Good and choice .. 4.00® 5.25 Common and medium 2.50® 4.60 (Heifers) Good and choice 2 75® 3.75 Common and medium 2.00® 2.75 (Cows) Good 2.00® 2.75 Common and medium 1.50® 2.00 SHEEP AND LAMBS Receipts, 900; Market. Steady. Lambs. 90 lbs. down, good and choice $ 7.00® 7.50 Common and medium 5.00@ 7.00 —Ewes—-(9o-120) Good and chdice 2.00® 3.00 (120-150) Good and choice ... 1.50® 2.50 All weights, common and medium I.oo® 2.00 Other Livestock (By United Press) CHICAGO. Aug. 24. Hogs—Receipts, 8,000, including 3,000 direct; holdovers, 1,000: market active. 1041250 higher; 200260 lbs., at $7,404/7.50; practical top, $7.50; few small lots. $7.55; 140-200 lbs., $6.504/> 7.40; few pigs, $5.75 down; packing sows. $6,504/ 6.85; light lights, 140-160 lbs., good and choice. $6,254/ 7.45; light weight, 160200 lbs., good and choice. $7®7.50; medium weights. 200-250 lbs., good and choice, $7.35®7.50; heavy weights, 250-350 lbs., good and choice, $7.15®7.50; packing sows. 275-550 lbs., medium and choice, $5.75® 6.90; slaughter pigs, 100-130 lbs., good and choice. $4.50®6.25. Cattle—Receipts. 2.500 commercial, 4.000 government; calves, receipts, 500 commercial. 3,000 government; very active market; in-between grades predominating: nothing strictly choice steers; best 1.175-lb. steers. $9.35; bulk. $64/8.50; few grassers at $5.50 down; clearance good all through the list; all interests in market for meager supply culled and heifers; best heifers, $7; strictly choice kinds weighty stocker bulls up to $3.50: selective vealers to $8: slaughter cattle and vealers: Steers 550-900 lbs., good and choice, $64/8.75; 900-1.100 lbs., good and choice. $6,254/9.75: 1.100-1.300 lbs. good and choice. $6,754/10.25: 5501,300 lbs., commercial and medium. $2.75® 7.75: heifers. 550-750 lbs., good and choice, $5,504/7.50: common and medium. $34/5.75: cows. good. $3.75®5.50; common and medium, $2.50®3.75; low cutter and cutter, $1,754/275; bulls, yearlings excluded, good, beef. $3®3.75 cutter, common and medium. $2.50® 3.50; vealers. good and choice. $6.25 ®7.50: medium, $44/6.25; cull and common. s3®4: stocker and feeder cattle: Steers 550-1.050 lbs., good and choice. $4.50®5.25; common and medium. $2,504/ 4 50. Sheep—Receipts. 6.000; fat iambs in fairly broad demand; undertone strong to 25c and more higher; best held around $7.50; initial bids under $7.25: sheep firm; ewes. $24/3; slaughter sheep and lambs, 90 lbs. down, good and choice. $6.50 ®7.50; common and medium. $4.75®6.55; ewes, 90-150 lbs., good and choice. $24/ 3.25; all weights, common and medium. *1.50®2.50; feeding lambs. 50-75 lbs., good and choice, *5.50® 6. FT. WAYNE. ind.. Aug. 24.—Hogs— Steady to 15c higher; 250-300 lbs.. $7.40: 200-250 lbs., $7.30; 180-200 lbs.. $7.20; 160180 lbs., $7.10: 300-350 lbs.. *7.20; 150-160 *6; 120-130 lbs . *5 50: 100-120 lbs . $5 25; lbs. $6.55; 140-150 ibs.. $6 25: 130-140 lbs., roughs. $6; stags. $4. Calves—s 7. Lamps —56.75. LAFAYETTE. Ind., Aug. 24—Hogs— Market steady to 10c higher; 200-300 lbs., *7.3u® 7.3a; 160-200 ,bs.. /i.iOu i.vu 1-4 - -160 Ids.. $6.15-6.40. 125-140 lbs.. 0.60-5.8 o: 115-125 lbs . $4.75 a5.25; 100-115 lbs.. $4.25 4/4.60. Rougns. e 25 down. Ca,\es—Top. 50.50. Lambs—s6.so down. (Bv Times Special) LOUTSVILLs. Kv„ auk. 24.—Cattle— Commercial receipts. 2ao. including one load direct: supply slaughter came very light, quality plain, demand dependable, market steady; buix common to medium grade slaughter steers and heifers. Hu 4.50; some cutter grades down to S2 75; better finished steers and heifers scarce, quotable mainly from *54/6. with one package desirable 900-lb. steers and hellers at *5 50: bulk beef cows, common to medium grassers. *2 50® 3: more desirable kinds to $3.50 heifer tvpes higher; low cutters *1 ® 2 25: sausage bulls mainlv *2.504/ 3; desirable Hereford Stockers mostly S4®s. some choice kinds highercommon to medium native stockers art feeders quotable *2.50® 3.50 Calve' Commercial receipts. 850. including around 350 stock calves: vealers steady; bulk i*tter grades. *5 50® 6: strictly choice hr ndvweiehts to *6 50: heavy grass calves a id medium and lower grade vealers $4 50 down. Hogs—Receipts. 600; steady; top and bulk 185-275 lbs *7 35: 280 ibs. up. $6 90: 160-180 lbs . $6 65; 140-155 lbs. $6 15: 120-135 lbs.. *4 65; sows *5.15: grassy and unfinished hogs discounted. Sheep—Receipts 1.000: lamb supply light oualitv fair, demand dependable; most earlv sales fu'lv steady; bulk trucked in ewes and wethers earlv *6® 8 50: choice kinds to $6 75: strictly choice longhauls to *7: bucks discounted, and throwouts mainlv $3.50®4; fat ewes *l®2: few higher stock ewes mostly MS 7.50 a head, soma choice to *B.

$200,000,000 Emergency'll. S. Money Used During March, 1933, Bank Crisis

Currency Was Part of $2,000,000,000 Federal Reserve Bank Notes Printed by Treasury in Effort to Supply Nation with Cash. BY RICHARD L. GRIDLEY United Press Staff Correspondent WASHINGTON. Aug. 24.—Nearly $200,000,000 in "emergency’ United States money, poured into circulation to tide the country over the March, 1933. banking crisis, has been quietly taken up. it is announced. The "emergency” money was part of a $2,000,000,000 issue of federal reserve bank notes run off by the late William H. Woodin. secretary of treasury, in March, 1933. in an effort to supply citizens with money when all the country’s banks were closed.

BEER, LIQUOR TAXES REACH HIGH LEVEL July Revenue Collections Total $38,823,580. A’j/ United Press WASHINGTON, Aug. 24.—Beer and liquor revenues struck their highest levels during July since repeal and treasury officials today anticipated a $500,000,000 tax yield from those sources during the present fiscal year. The internal revenue bureau reported collections of $38,823,580 during July against $36,251,672 in June. Liquor, beer, agricultural processing and tobacco taxes, furnished approximately 63 per cent of July internal revenue collections of $195,592,085. The increase in liquor revenues was attributed to unusually hot weather and Secretary of Treasury Henry Morgenthau's drive to mop up bootleggers. Processing taxes supplied $43,760,029 during the month. Tobacco levies contributed $40,322,610. The statement revealed that the government collected $286,988 as its share in the 50 per cent tax on silver speculation profits. The bureau’s estimate showed that its July 1934 tax collections ran far ahead of July, 1933, when only $131,115,696 was received. Produce Markets Delivered m Indianapolis onces; 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; young guineas. 20c; old guineas, 15c; No. 1 strictly fresh country run eggs, ioss 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 Company. (Bv United Press) CHICAGO. Aug. ’ 24.—Eggs—Market steady; receipts, 7.166; extra firsts. 21 <z 22c; fresh graded firsts, 20c; current receipts, 17® 19%c: dirties. No. 1. 16' 2 c; No. 2. 12c; cheeks. No. 1,16 c; No. 2,12 c. Butter—Market, unsettled: receipts. 13.581; extra firsts 90-91% score). 25(2ft/.26c; extras (92 score 1, 26%®27c; firsts (88-89% score), 244725 c; seconds (86-87% score). 22%4/23c: specials, 27%4/28c; standards, 26%c. Live poultry—Market steady; receipts, 33 trucks; fryers. 154/17c; broilers, 154716 c; Leghorn broilers, 144/16c: geese, 54/8c; turkeys, 104/15c; old roosters, 10c; hens, 14® 15c; black chicks. 104/12c; barebacks, 13c: cocks. 8c; Leghorn coc*s, 9c; colored springs. 16c; White Rocks. 184-z 19c; Plymouth Rocks. 19c; ducks, old, 9® 10c; ducks, spring. 104/14c; colored Plymouth Rocks. 16c: Leghorns. 12c. CheeseTwins. 13® 13 %c: Longhorns. 13%4/ 14c; Daisies, 13%4/14c. Potatoes—Receipts, 136; on track. 207; shipments, 539; supply liberal; demand slow: market dull; Wisconsin cobblers. $1,304/1.40: combination grade, $1.20: mixed red and white, $1.40; Wisconsin Triumphs. $1.40® 1.60: Idaho Russets, $1.67%; combination grade, $1.45; Minnesota Cobblers. $1.25; Pennsylvania Cobblers, $1.40. NEW YORK. Aug. 24.—Potatoes—Steady; Long Island, 45c4/$1.05 bag; New Jersey. $1 bag: southern. 35® 85c bag. Sweet potatoes—Easy; Jersey baskets. 75c4/$2; southern barrels. $1.25® 3.75: southern basket, 35c® $1.50. Flour—Easy; springs: Paents, $7,354/7.60 barrel Pork—Firm; mess, $22 barrei (x). Lard—Quiet; middle west spot. $6.90®7 a 100 lbs. ix). Dressed poultry—Steady; turkeys. 17@32c; chickens. 10®28c; broilers, 16®23c: capons. 25 4/35c: fowls, 9®2oc; Long Island ducks, 13® 15c. Live poultry—Firm : geese. 64/7c; turkeys, 1047 15c: roosters, 11c; ducks. 8@ 15c; fowls. 12® 19c; chickens. 21® 25c; broilers. 12® 22c. Cheese—Quiet; state whole milk, fancy to specials, 194/20c; young Americas. )4%4/14%c. Butter —Receipts. 12.601 packages; market easier; creamery higher than extras, 27%'5 28%c; extra 192 scorei. 27%c: firsts (90-91 scorei, 26 1 1 ® 27c: first (88-89 score), 25®25%c: seconds. 24®24%c. Eggs—Receipts. 12.263 cases; market irregular; special packs including usual hennery selections, 24® 28%c; standards, 23%c: firsts, 21 %c; seconds. 20c; medims. 19®19%c; dirties, 19® 19%c: checks, 16%®17c. (X) Export tax net included. On Commission Row —Aug. 24 Quotations below are average retail prices being offered to buyers bv local commission house dealers. Apples—Fancy Delicious. $2; Transparents. [email protected]. Peaches—lndiana Elbertas. bushel, $2.25 @2.50. Plums—ltalian. V 2 bushel. $1.40. Oranges—California Sunkist, 50.25: Valencias. [email protected]. Lemons —Sunkist. $6.50. Grapes—California seedless, crate, $1.40 3 Grapefruit—Florida seedless. $4.25®4.50. Cantaloupes—lndiana, bushel. 7oc@sl. Pears—Bartletts, $1.75. Watermelons—2sc. Bananas—Pound. sc. —Vegetables— Endive—Ohio. 2 doz., basket, 85c. Sweet Corn—Home grown, doz., 20c. Cabbage—Northern. 2%c pound. Celerv—Michigan, boxes. $1.10: medium. Onions’—Washington yellow. 50-lb. bag. $1.65; California whites. $2.25; homegrown. sl. „ . ~ Pickling Onions—lo-lb. basket. sl. Potatoes—Eastern Cobblers. 100-lb. bag, $1 85; Kentucky Cobblers. $1.85; Idaho Russets. 100-lb. bag. $2. Sweet Potatoes—Tennessee Nancy Halls. $1.90; Eastern Yellow Jerseys $2 Beans—Round stringless, bushel, sl® 1.50. Beets—New. 30c doz. Carrots —Home-growm. bushel. $1.50. dox.. 35c. Cauliflower—lOs-lls crate. $1 90 Lettuce —Outdoor. 15-lb. basket. 85c, head lettuce, crate. *s4® 4.50 Peas—California, hamper. $2.50 Radishes—Ohio. doz. bunches. 50c. Spinach—Home-grown. 10-lb. baskets. 35c: bushel. $1 Finger Peppers—s-lb. basket. 83C. Tomatoes —Home-grown. 10-lb. baskets, 35c; bushel. [email protected]. CHICAGO FRUIT MARKET (Bv United Press) CHICAGO. Aug. 24—Fruits and Vegetables—Apples. Michigan Duchess, bushel 50c4i$l: cucumbers. Michigan bushel. oO ® 75c; tomatoes. Michigan. 12-ouart basket. 50c® SI; Illinois, bushel slso® 2.25: sweet potatoes. Tennessee, bushel $1.75; peaches. Georgia, bushel. $1.85®2.25: Illinois bushel. s2® 2.50: lettuce. California, crates. *34/3.50: beans. Illinois green bushel. 50c® $1: Michigan wax, bushel $1 ®1.50: cabbage. Wisconsin, elates. 75c® *1: cantaloupes. Michigan, crates. 20c4/ $1.25: corn. Illinois, sacks. 2d® 50c: carrots California, crates. *1.7a®2.25; peppers. Illinois, bushel. 500 75c; eggplant. Illinois, bushel. 40® 50c: celery. Michigan, crates. 40® 50c; western cauliflower. $1.15. Onion Market—so-lb sacks' California whites. $1 404/ 1.60: Washington Valencia*. *l.lo® 1 30: Wisconsin globes. *1.10: Michigan yellows, $1,054/ 1.10. Firm Declares Dividend By Times Special CHICAGO, Aug. 24—St. Joseph Lead Company declares a dividend of 10 cents a share on the capital stock, payable Sept. 20, to holders of record Sept. 7.

]am frOBIHg & (pOAUPAKY investment Securities We are interested in the purchase of high grade INDIANA MUNICIPAL BONDS ' INDIANAPOLIS Continental Bldg. Riley 3321 NEW YORK SOUTH BEND MUNCIE

Conditions improved so rapidly after March. 1933. however, that little more than $200,000,000 of the emergency bilks actually got into the hands of the public. Usefulness of Bills Outlived Usefulness of the bills was soon outlived when banks reopened and citizens resumed checking accounts. Although federal reserve bank notes are fast going out of circulation, the treasury today continued to push out silver certificates against the 62,000,000 ounces of free (Silver in the treasury and the new nationalized silver. As of Aug. 17 there were $510,223.322 paper silver certificates in circulation, against $495,000,000 a week previous and $482,540,550 when President Roosevelt took office. Silver purchases since that time were understood to have exceeded 100.000,000 ounces. Excluding purchases by the government's stabilization fund. Secretary Morgenthau said 33.465,091 ounces had been nationalized and 11.321.000 ounces of newly mined silver purchased since Dec. 21. The reserve bank notes, run off in night and day shifts by the bureau of engraving and printing, were one of the worst specimens of printing ever turned out by the bureau. This made counterfeiting comparatively easy. Because of the urgent need for the notes and absence of dies, they were printed from old national bank note dies and rlosely resembled the latter. Backed Dollar for Dollar They were authorized by the emergency banking act of March 9, 1933. Similar to national bank notes, except that they were issued by federal reserve banks, they were backed dollar for dollar by government securities or $1.12 per dollar by commercial papier. * The notes were important in heading off use of various forms of local scrip money. The crisis soon passed, however, and the government began replacement of the reserve bank notes with other money such as federal reserve notes from more than $200,000,000 to $32,651,000 on Aug. 15. It was indicated they eventually would be retired and replaced with other forms of money. VISIBLE WHEAT SUPPLY UP 3,694.000 BUSHELS Corn and Oats Also Show Advance Over Last Week’s Figures. By United Press ' NEW YORK, Aug. 24.—Domestic visible wheat supplies increased 3,694,000 bushels last week to 127,352,000 bushels, against 151,296,000 bushels a year ago, it is reported by Dun & Bradstreet, Inc. Canadian supplies decreased 2,476,000 bushels to 180,823,000, against 187,789,000 bushels last year. World supplies were up 3,218.000 bushels to 364,475,000, against 386,885,000. Corn supplies in the United States and Canada increased 3.899,000 bushels to 54,256,000, against 80.584,000 a year ago, while oats increased 768,000 bushels to 33,432,000, against 55,524,000. FIRM REPORTS DEFICIT Electric Power and Light Quarter Loss Totals $170,712. By Times Special NEW YORK, Aug. 24.—A deficit of $170,712 ill the second quarter operations of the Electric Power and Light Corporation in comparison with a net profit of $19,555 in the corresponding quarter of last year is reported. Gross income from subsidiairies totaled $322,366 as compared with $505,610. The company for the year ended June 30 showed a deficit of $587,776 against a net profit of $830,897 in the preceding year, while the gross income of the subsidiaries amounted to $1,391,810 against $2,768,892. JULY SALES DECLINE Butler Brothers Report Decrease of 12 Per Cent in Month. By Times Special CHICAGO, Aug. 24.—July sales of the Butler Brothers declined about 12 per cent below the corresponding month of 1933, but resumption of the upward trend was reported during the first of August, according to Frank S. Cunningham, president. Business for this month to date shows an increase of about 15 per cent above the like period of last year.

Breed, Elliott & Harrison Established 1912 1115 CIRCLE TOWER GOVERNMENT BONDS FEDERAL AND JOINT STOCK LAND BANK BONDS HOME OWNERS’ LOANCORPORATION BONDS REAL ESTATE PREFERRED STOCKS AND BONDS BUILDING it LOAN STOCKS INVESTMENT TRUSTS

.’AUG. 24, 1934

WEATHER NEWS SENDS FUTURES PRICESUPWARD Grains Respond to Reports of Adverse Conditions in Canada. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Aug. 24.—Motivated by firmer foreign markets and repons of adverse weather in Canada m grain markets firmed and moved up fractionally on opening of the Chicago Board of Trade today. Wheat at the opening was unchanged to up % to %; corn was up ** to 'V oats were to '* higher, and rye was up %. The better tone in the domestic market was due largely to the ri.e at Liverpool, which responded sharply to colder weather in Canada and the fear of crop damage there. Corn showed considerable strength on the firmness in September deliveries, many holders of that month indicating they will accept delivery. The weather was a factor, but traders believed there was little likelihood of frost over the main corn belt. Oats were under some pressure but maintained a firm tone. The short crop and reports that Canada would place an embargo on export of fodder caused a better demand.

Cash Grain

INDIANAPOLIS —Aug. 23 The bids for car lots of grain at th# call of the Indianapolis Board of Trade f, o. b.. shipping point, basis 17%c to river. WHEAT—Weak: No. 1 red. 9'?®92%c; No 2 red. 90%@91 %c; No. 2 hard. 91% / CORN—Steady: No. 2 white 72@73r: No. 3 white, 71® 72c; No 2 yellow, 71W72c - No. 3 yellow. 704/ 71c No. 2 mixed. 70®71c; No 3 mixed, 69 •/70( OATS—Firm; No. 2 white. 48@49c; No. 3 white. 47® 48c. HAY—Steady. (F. o. b. country points taking .23%c or less rates to Cincinnati or Louisville). No. 1 timothy. sl4® 14 50. —lnspections WHEAT—No. 2 red. 2 cars: sample. I car: total. 3 cars. CORN—No. 3 white, 4 cars; No 2 yellow 3 cars; No. 3 yellow. 13 cars; No. 4 yellow, 5 cars: total. 25 cars. OATS —No. 3 white, 5 cars; sample white. 1 car; total. 6 cars. RYEI—No. 2. 1 car; total. 1 car. Local Wagon Wheat City grain elevators are paving 91 cents for No. soft red wheat. Other grades on their merits. Chicago Futures Range (Bv United Press) —Aug. 24 Wheat— Prev, High. Low. 10:00. close. Sept 1.03% 1.03% 1.03% 1.03% Dec 1.04% 1.04% 1.04% 104% May 1.06% 1.06 1.06% 1.06% Corn— Sept 76% .76% .76% .76% Dec 78% .77% .78 77 % May 81% .80% .80% .80% Oats— Sept 50% .49% .50 .49% Dec 50% .50*4 .50% ..50% May 51% .51% .51% .51% RyeSept .85 .84% Dec 86% .86% .86’ t 86 Mav 90 .89% .90 .89% Barley— Sept . . .. .80 Dc 76 .75 .76 .76 May . . .78% The above quotations are for new options. CHICAGO PRIMARY RECEIPTS —Aug. 23 —Bushels— Today. Last week. Wheat 572,000 669,000 Corn 1,055.000 1.394.000 Oats 236,000 252,000 (Bv United Pressl CHICAGO. Aug. 23.—Cash grain Wheat —No. 2 red. 1 05x; No. 3 rpd. $1.04; sample red. 98%c; No. 3 hard. $1,104/1 10%; No. 4. hard. $1.05%®>1.08; No. 1 yellow hard. $1.10%: No. 3 red. $1; No. 3 mixed. $lO7. Corn —No. 2 mixed, 79c; No. 4 mixed, 77 ! /ic: No. 1 yellow, 79'tc; No. 2 yellow. 78%®79%c; No. 3 yellow. 78%c: No 2 white, 80%c. Oats—No. 2 white. 53®53%c; No. 3 white. 50%c; No. 4 white. 49'i®50c; sample grade. 49%c. Rve—No sales. Barley sales. 83c® *1.15: quotable. 73c® $1 23 Timothy seed—sl6 50® 18. Clover seed—sl2 ®T7. Cash provisions—Lard. $8.75; loose. $8.65; leaf. $8.75: bellies. $13.12. TOLEDO, Aug. 23.—Grain close: (In elevators. transit billingi. Wheat—No. 3 red. $1.03%@1.04%. Corn —No. 2 yellow. Rl®B2c. Oats—No. 2 white. 54® 55c. Rve— No. 2, 86%ft;87%c. (Track prices. 24%e rate). Wheat—No. 1 red. $101%; No 2 red. 99®99%c. Corn—No. 2 yellow. 77®< 77%c; No 3 yellow. 76%@77c; No. 4 yellow. 76®76%c. Oats —No. 1 white. 52® 54%c: No. 2 white. 51@52%c; No. 3 white, 49%52c. NEW YORK. Aug. 23.—Cash grain: Wheat—No. 2 red, $1.15%. No. 2 hard winter, $1.20%. Corn—No. 2 mixed, 82%c. Oats —No. 3 white. 60%c. ST. LOUIS. Aug. 23.—Cash grain: Wheat in fair demand, unchanged to % cent higher on red and % cent lower on hard. No. 2 red, $1.03%@ 1.04 earlv and sl.o3®' 1.03% at the close. No. 2 hard, $1.09 nominal at close; No. 2 mixed, $1.09. Corn. —Quiet. % to 1 cent higher No 2 yellow', 80c. Oats in quiet demand. %c higher. No. 3 white. 52%c. Coal Production Climbs By Times Special CHICAGO, Aug. 24.—C0al production of 114 Illinois mines in July totaled 2,204.621 tons as compared with 2,122,745 in the preceding month and 2,350,235 in July a year ago according to reports of the Illinois department of mines and minerals.

WE BUY AND SELL: U. S- Government Bond* U. 3. Territorial and Insular Bonds Indiana Municipal and Gravel Road Bonds Land Bank Bonds Home Owners’ Loan Corporation Bond* Bonds and Stocks of Indiana Corporations General Market Municipal and Corporation Bond* y Indianapolis Bond and Share Corporation 129 fat) Market Street telephone Riley 4551

BE SAFE Insure Your Car Today Automobile Insurance Ass'n. IJ *571. 7th rio*r. Occidental Bldg

Moderate First Mortgage Loans on Improved Indianapolis Real Estate The Indianapolis Morris Plan Company Delaware nnd Ohio Sts. RI-1536