Indianapolis Times, Volume 46, Number 99, Indianapolis, Marion County, 4 September 1934 — Page 8

PAGE 8

Wall Street Prospects of September Trade Improvement Is Regarded Poor. —BY R\Lm lIE.NDER'HO1 —

Tln >K'UI riiuritl Writer September is usually supposed to mark the turning point In business from summer dullness to fall improvement. It Is a time when farmers are supposed to sell their (train and stock up with Roods for the winter and when people generally. returning from their vacation.*, lay In supplies for the coming cold

months. But this year there is no immediate prospect of an upturn in trade. Those best able to peer into the future say we are unlikely to experience an improvement before midwinter, if then. And such betterment as occurs

I IL isl

Hendershot

during the next few months, they maintain, will come largely as a result of government spendine. Strike prospects have the prognosticators worried They look for serious trouble all over the country and say the layoffs of both production and earnings are certain to cut into the sale of Roods in all lines. The textile strike is the most important one now facing the nation. but it is thought the movement will spread as the winter approaches. mam THE drought, too. is bound to I have an adverse effect on trade, in the opinion of most observers. While the farmers, generally speak- • ing. probably will receive from their j crops, plus the government doles, as j much as or more than they did a i year ago, they will not be able to j buy so much for their money, and city folk will have much less left ' over after food purchases than usual. Unemployment still is heavy, and i the efforts of the government to j correct the situation are bearing ' little fruit. Expansion of credit has been slow due primarily to high interest charges and to the poor credit standing of the would-be borrowers. The banks are playing the game close to their vests, and so is the government. Prospects of an international currency war hang over the hori7/>n. which, of course, adds to the unsettlement of confidence. a m a AN idea of how carefully the government is guarding its expenditures these days is afforded in the conditions under which it was willing to go along with the banks in j making loans for housing modemization. Only about 20 per cent of j the applicants at one of the lead- j in? lending institutions were eligible even for consideration, and only a small percentage of those eligible were considered sufficiently good credit risks to receive help. One of the chief drawbacks was the provision that the mortgages of applicants must be in good condition. That meant that interest and taxes must be paid and that mortgages must be for a stated period. It is well known, of course, that many people owning property are behind in their payments and that many of those who have their taxes and interest up to date have socalled open mortgages on their property, which automatically excludes them as borrowers. The government has just made a ruling, however, which permits the lending agencies to use their own judgment on credit risks. Consequently. one of the chief hindrances to the plan has been removed. The banks are permitted to make modernization loans on the same basis thev make other loans, which is as it should be. CANNED FRUIf OUTPUT IN WEST INCREASES Production Estimated at 9 Per Cent Above Previous Year. By Time* Special CHICAGO. Sept. 4.—lnitial reports Indicate that the canned fruit production of the Pacific west, representing about 76 per cent of the national output, will reach a value of approximately $100,000,000 in 1934. exceeding last year's values by 9 per cent, the Bank of America. Pacific const branch banking system announced today. Canned vegetables for the area may be expected to return an additional $34,000,000. the bank adds, representing a 12 per cent increase over last year's totals. A sizable share of these returns, it is stated, is being passed alone to the farmer and to labor Somewhat significant of the agricultural position. the pear grower this year is receiving $35 to S4O a ton. as compared with sls to S2O for the same grade of fruit last year. On Commission Row - Sept 4 Quotations below are average retail price* being offered to buvers bT local commission house dealers P-ach*s—Michigan. Elbertas. bushel. S3 35 Plums--Michigan. large blue, bushel S3 IS; Damsons bushel $? Pear*—Michigan Brt:er bushel. 12 35. CUpps favorite $3 L-mons—Sunkist. 5 SO Grapes—California seedless crate. $1 35 Orapefru.t—California seedless. *4 25. Watermelons—2sc • Bananas-Pound. So —AegetaMe*— gndie—Ohio, 2 dor . basket. 85c Sweet Corn-Home grown dog.. 30c. Cabbage-Northern 50-lb bag 85c Celery Michigan medium, ooien. 45c: Jumbo. 65c. dor 45c Onions Washington sweet Spanish large 50-lb bag tt (5 Michigan veUow. • 1 40; western white* *2 Pickling Onions —10-lb bag 75c Potatoes Eastern Cobblers. 100-Sb. bag. J t! 75. W consm round white 100-lb. bag. 11*5 Idaho russets. t3t>3 50 Sweet Potatoes—Eastern Yellow Jersevs. bushel gl 5 Bean* Round *;r:ngles* bushel *! 25 home-grown Kentucky Wonders. *1 Beets—New 30c dot. Carrots- Ohio, dox. 25c Cauliflower Lettuce Outdoor. 15-lb basket. *sc; Iceberg California, crate S4 50. Cucumber*—Home arown. bu . SI. Egg Plant—Home grown, dor *l. Peas Hamper *2 35 Pep-ters —Home grown, bu . *135. Rad sbes- Basket of 2 do* *sc. Spinach - Home grown. New Zealand bu 6V Brosdleaf bu. *1 25. Tomatoes—Outdoor basket 50e: bu • ! 50 FIIIK AND VEGETABLE* B*' United Press • CHICAGO Sept 4 Annies—Michigan j We*;thie* bushel* *1.25® t IS. Wisconsin ! *1 Ml Michigan Mclntosh *1 50. Tom*- ‘ tom—Michigan 12 -o t baskets sou 5. B***l potatoes—Tennessee bushels *1 25 j Peaches —Michigan bushels. *3O 240 Let-; tuce —Ca.ifernta crates S3*js Ohio* baskets. 50®Oe Beans —Hew Jersey green, bushels *1 40411 50 Cabbage—Wisconsin, erttes 75*i 5c Corn— Illinois sacks 50# Mr *etlow snd whltei. Carrots—lllinois. 1 bunches. 1* 2c Peppers—llltr.ota. bushel i 7Sc Egrp’ant Celery Michigan crates 400 25c CaultBower Western *1 254s 14* Onion mar-' Let 50-lb sacks Washington yellows *1 sll* Michigan reuowa. NtMe. Idaho, whites. U2SUISS.

SECURITY LIST WORKS LOWER AFTER HOLIOAY Sales Volume Continues at Lightest Pace in 16 Years. BY ELMER C. WALZER I (tiled Press Financial Editor NEW YORK. Sept. 4. Stock trading continued dull today after the two-day shutdown, and prices worked lower. The dollar, however, strengthened substantially; bonds declined; cotton was off about 75 cents a bale. Early dealings in stocks were at the Saturday rate, which was the lightest in sixteen years. Tickers were idle minutes at a time and only routine operations were noted. Among the opening prices were Du Pont 39 ! , off Montgomery’ Ward 23 •*, off %: Standard of New Jersey 44 , up 18: Socony-Vacuum 14'*, off %; Texas Corporation 23 *. unchanged: Consolidated Gas 28. unchanged; United States Steel 33%. off %; Bethlehem Steel 29'*, up '*; Chrysler 33%, off ; Public Service of New Jersey 32 I *. off %; Ceianese 19'*. off %. and National Distillers 21 Prices held around opening levels in early trading. Sears Roebuck and Du Pont firmed to around the previous close and held there. There was no interest in the market. Tsaders held aloof pending more definite indications of the extent of the labor difficulties, especially in the textile strike. It was not anticipated there would be any particular pickup in major industries until later in the week because of shutdowns in many lines. Steel operations at Youngstown were substantially higher today. Money and Exchange INDIANAPOLIS STATEMENT Sept. 4 Clearing* *2.nib.ooo no Debits 6 046.000 00 FOREIGN EXCHANGE <Bv Abbott. Hoppin 6i Cos.) —Sept. 1— Close Sterling. England .. $4.9858 Franc. France 0668% Lira. Italy .0869 Franc. Belgium 2381 Mark German* 3972 Guilder. Holland 6867 Pr eta. Spain 1387 Krone. Noiwav 2506 Krone. Denmark 2227 Yen. Japan .2987 Treasury Statement ißy United Press) WASHINGTON Sept 4.—Government expen e* and receipts of the current fiscal vear to Aug 31. compared with the corrr ponding period of the previous fiscal year; This year Last year. Expenses . ( 997 973.605 16 *SBO 687.515 66 Rrr.'ipis ... 504 455 020 32 351 002.057 88 Deficit. ... 475 518 584 84 229 685.457.73 Cash bal. . 2 136.676.859 13 Investment Trust Shares (Bv Abbott. Hoppin & Cos.) —Sept. 1— Bid Ask Amer Bank Stocks Corp 97 1.01 Amer A- Gen Sec iAi 3 50 4.50 Amer Aim- Tr Sh 1.75 B.i -ic Industry Shares 293 298 Britist Tvpe Inv Tr Sh 40 .43 Collateral Trustee Sh iA) .... 4.12 4.37 Corporate Tr Shares i01d).... 1.84 1.89 Corp Trust Shares mew).... 210 2.14 Cumulative Trust Shares 3.57 3.67 Diversified Tr Shares tA).... 625 Diversified Trust Sh (B) 687 7.12 Diversified Trust Shares (C).. 2.76 280 Ditersified Trust Sh iDI 425 4.50 First Insur Stock Corp 4.50 487 First Common Stock Corp ... 51 .51 Fixed Trust Oil Shares iAi... 7.37 ... . Fixed Trust Oil Shares (B> ... 6 37 Fundamental Investors. Inc.. 179 i.97 Incorporators Investments ...16 30 17.52 l4ind Bank Bond Shares 1.12 1.25 Low Priced Trust Shares.... 503 5.15 Mass Inv Trust Shares 17.62 18 12 Nation Wide Securities 3 00 3.07 North Am Trust Sh <53l 1 75 North Am Trust Sh i5-56) ... 2 13 2.17 North Am Trust Shares |58(.. 2 15 220 Selected Amer Shares 1 05 1.14 Selected Amer Sh Inc . . Selected Cumulative Shares .. 214 .... Selected Income Shares 3.21 . . Std Amer Tr Shares (A) 2.72 278 Trust Shares of America 2.62 2.68 Trustee Std Oil <A> 5.14 5.45 Trustee Std Oil (B" 4.65 4.75 U S Elec Lt A- Pwr (A) 1125 11 50 Universal Trust Shares 2.72 2.78 New York Bank Stocks ißv Abbott. Hoppin A Cos.) —Sept. 1— Bankers 54% 55% Brooklyn Trust 86 88 Central Hanover Jlß'a 119% Chase National 24 24’* Chemical 39' 39% National City 21% 22% Corn Exchange 46'* 46% Continental 12 12% Empire 17* 18’* First National 149? 15 10 Guaranty 3 11 3 14 Irving 15 ! „ IS ', Manhattcn A Cos 27% 28'* Manufactures 19' 19% New York Trust 94% 95% Public 29 29' In the Cotton Markets —Sept. 1 CHICAGO High. Low Close January 13 37 13 30 13 30 March 13 40 13 35 13 35 May 13 45 13 40 13 40 October 13 21 13 17 13 17 December 1J.35 13 28 13.28 Retail Coal Prices m* following prices represent quotations from leading Indianapolis coal dealers. A 25-cenr carrying charge per ton will be added DOMESTIC RETAIL PRICES Anthracite sl3 50 Brazil Lump 5.90 Brazil Fgg 6.90 Brartl Mine Run 5.25 Coke. Nut Sue 8 50 Coke. Egg Sue 8.50 Indiana Forked Lump No. 4 and 6. 5.75 Indiana Egg 5.75 Kentucky Lump. Group • , B" 7.15 Pocahontas Lump 8.35 Pocahontas Egg 8.35 Pocahontas Mine Run 0 New River Smokless 8.25 SOUTHWEST GETS RAIN Good Showers Reported Over WeekEnd Will Aid Fall Danting. By 1 1 mre Special CHICAGO. Sept. 4 —Concern over the unfavorable condition of the southwestern wheat lands for fall planting of the winter crop was alleviated Somewhat by the good rains which were reported over the weekend in western Kansas and parts of Nebraska. Rainfall of ** to l’s inches occurred in some sections and it is believed that the drought in the region is gradually breaking. Fall plowing for the new crop is beyond schedule over much of the region, however, and more than normal rainfall must be received if another short crop is to be prevented next year. Moisture received during July. August and September has an extremely important bearing on the winter crop and the deficiency during the last two months has only aggravated a situation which has been growing worse for many months. Freight Car Orders Gain Bp I imtet Special WASHINGTON. D. C., Sept. 4 According to the American Railway Association, on Aug. I orders for new freight cars by Class 1 roads totaled 13.755. On the same day last year 1.187 new freight cars were ordered.

New York Stocks ———— Aobott ttouptn A Cos, —————

AVERAGE STOCK PRICES FOR SATURDAY Net High. Low. Cloie. change. Thirty industrial* 92JW 92.52 92.fi4 -.22 Twenty rail* 36.13 35.93 36.07 —.lO Twenty utilities 20.(9 20.41 20.48 -.02 Forty bond* .... 92.78 same Ten first rails .... 99.99 -.03 Ten second rails .... 75.65 -t-.01 Ten utilities .... 98.57 —.OB Ten industrials .... 96.90 —.04 - Cp. -Off. •Where quotation, are net given, there has been no trading in thoae l*sure.

—Sept 4 Prey Oil*— High. Low. 10:00 close. Amerada ... 47'* . All Rfg 25>4 Barnsdai! 6% Consol Oil ... 8’ 2 8% Cont of Del 18 18% Mid Cont Pet IP* Ohio Oil 10’, Phillips Pet 16', 16' Soc Vac ... 14' 14'2 S O of Cal 34 S O of Ind 26’* B O Os N J 44’* 44'* Texas Corp . 23’* 23 1 * Tidewater Assn . 10’* 10 ! 10** ... Steel*— Am Roll Mill 17'a 17'. Beth Steel 29'* 29>. Col Fuel A Iron Ludlum Btee; • 12 s * McKeesport Tin 86 Mid Fteel 9 Natl Steel 40' 2 Rep Iron A Steel 13% Rep Ir A St pi *8 U S Steel 33 % 33% Youngstn SAT 16% Motor*— Auburn . • • 23’, Chrysler 33'. 33 33 33'* Gen Motor* ... 29' t Hudson ... B'* Hupp 2’* Mack Truck .24’, Nosh 14% 14 imekard .. ... 4 4 Re o 2 s * Studebaker ... 3' • 3', Yellow Truck 3’ Motor Access— Rendix ... 12'2 12’, Borg Warner 22 Briggs ... .. ... 15’* 16'* Eaton Mfg .. . 14 s * Elec Auto Lite . 2P* 21'4 21 s * 21 s . Murrav Bodv .. .. ... ... s'e Stew Warner .. .. ... ... 6'-* Timken Roll 30 Timken Det Axel .. ... ... 6% Mining— Alaska Jun ... ... Bs*8 s * Am Smelt 37,'2 Anaconda 12', Cal A Hecla 3% 3% Cerro <ie Pasco .. ... . 40'2 Dome Mines 44'2 44’* Howe Sound 54'2 Int Nickel 25 25'* Kennecott Cop 19 '•* 19’, Noranda Cop ... .. ... 43’, 43‘2 Park Utah 3’* Phrips Dodge.. .. ... .. 15Va St Joe Lead ... .. ... 17% U S t iters 136*4 137 Vananiun- 177, Amusements— Fox Tnea 11% 11% Radio Corp 5% 5% ss*5 s * s’, RKO 2’* Warner Bros 47* 4% Tobaccos— Am Tob A ’ 74 Lorillard ... ... 18 Reynolds Tob ‘ B” .. ... ... 46 Rails— Atchison ... 50 t Atl Coast Lines. 28’, B A O 16’, Can Pac 13% 13% Ch A Ohio 43',2 C M A St P 3 C M A St P ptd S's Chi N W S'* De!a A Hud 40 Del Lac A W 16 s * Grt North pfd 15 111 Central 1674 K C Sou 8 ... MKA T % Mo Pac 2.4 Mo Pac pfd 4 ••• N Y Cent 21% 21’, N Y New Haven 10 * Nor Pac ... ••• ISJa Penn R R }4% Sou Pac 18% 18’* Sou R 16' * Union Pac ... ... 98 Equipments— Allis Chalmers 13'* Am Brake Shoe .. ... ... 24 Am Car A Fdy 18% Bald Loco 8 Case J I 40’* Deere A Cos 16 * Foster Wheeler U • Gen Am Tk Car 33'* 33 33', 93 Gen Elec 18% 18 s * Ingsol Band ... Int Harvester 27 Natl Cash Reg 14% Pullman Inc 42 Rem Rand 8* West Air B 18 s * 18'* Westingh Elec ... ... ••• -3 Worthington Pm .. ... ••• 18 Utilities — Am A For Pwr 6 s * 6% Am Power A Lit 5 5Vs A T A T Hl% Col Gas A Elec. 9 s * Col G A E pfd 66 Com A Sou 174 I s ,* Consol Gas 28 28 Elec Pwr A Lit. ... ... 4% 4% Int TAT 10 Nat Pwr A Lit B'/, North Amer 13% 137* Pac G A E 15% 16 Pub Serv N J 32 * ... So Cal Edison 13% 13% Std Gas 774 United Corp 4 Un Gas Imp 14% Ut Pwr A L tA) 2 Western Union .. ... 36 Rubbers— Goodrich 10% 10% 10% 10% Goodyear •• 22V* 21% 22% 22% U S Rubber 18 167* U S Rubber pfd 38 Miscellaneous — Amer aCn 9774 Anchor Cap 17 Brklvn Man Tr 42% 41 s * Conti aCn 82 Curtis Pub ... . 18% Curtis Pub pfd •• ... ••• 83% Olidden 25% Inter Rapid Tr 13% Foods— Am Sugar ... 67 Armour (A) 6% 6% Beatrice Cream'y 13% Borden Prod 25% 20% Cai Packing 42% 42% Can Drv G Ale . .. 16% Cont Bak (A) ... 6 s * Corn Prod 61% Crm of Wheat 32% Cuban Am Bug 9 Gen Foods 30 G W Sugar 31 Hershev 64 Int Salt 29%

Gone, but Not Forgotten

Automobiles reported to police as stolen belong to: Bert King. 6504 Cornell avenue, Plymouth coupe. 5-663, from Fall Creek boulevard and Central avenue. John Newman. R R. 1. Box 677.- Ford roadster. 117-117. from 200 North Senate avenue. S’even Jones. 2190 Station street. Buick coach. 89-320 from 300 West Ohio street Ben Steagall. 4121 West Washington street. Buick s“dan. from 406 West \yashmeton street. M R. Stout. 901 North New Jersey street. Apartment 8. Chevrolet sedan. 37-009, from in front of 35 West ’Maryland street. Walter Mclntire. Brownsburg. Ir.d.. Oldsmobile sedan, from 400 West Washington street Frank Jenkins. 236 Fast Ninth street, Chevrolet coach, from state fairground. C M. Warner. Clinton. 111.. Oldsmobile coupe 1-199-799 Illinois, from Kentucky avenue and Washington street. Herbert % Haag. 5698 North Pennsylvania street. Ford V-8 coupe. 99-160, from Maryland and Illinois streets Morris Dowd. 819 South Capitol avenue. Jordan coach. 65-615. from Indiana avenue and Michigan street. Perrv Gordon. 1048 Gross street. Chevrolet sedan. 114-830. from King avenue and Michigan street. Elmer Barton. R. R. 12. Box 500. Lawrence Ind . Ford coupe. 46-026 from McCrav and Maryland streets. Omer J. Williams. 58 Berwyn avenue. Fo-d coupe. 90-023. from State fairground. Frank Hatfield. 3858 North New Jersey street. Ford V-8 coach. 14-750. from Market and Alabama streets. Eugene Williams. 4108 East Eleventh street. Ford roadster. 96-476. from Wilkins and Meridian streets. Paul Clements. Kirklin. Ind.. Chevrolet coupe. 24-369. Irom in front ol 3547 East Washington street. Rov E Moulden. 4107 West Washington street. Chevrolet sedan. 85-865. from Senate avenue and Washington street.

BACK HOME AGAIN

Stolen automobiles recovered by police belong u>: . _ . Polar Ice and Fuel Company. Ford coupe found at Thirty-fourth street and Barnes avenue. S B Fox. 5228 North Pennsylvania street. Chevrolet sedan, found at Fortyfourth street and Washington boulevard. Fiank Lawrv. 1441 Gross avenue. Oldsmobiie coach, found at Oliver avenue and Addison street. Frank E McKinney. 124 Pleasant Run paikwav. Buick sedan, found at Minnesota street and Tibbs avenue, wrecked in a ditch. Owen Harvev. 2815 McPherson street. Overland sedan, found at the state fairground. _ . A Cohen 1201 Union street. Ford coach, found at New Jersev and Sanders streets. Marvin Brown. 1824 Columbia avenue. Grah*m-Paige sedan, found at North street and Senate avenue, wrecked m accident . S Jones. 2190 Station street. Buick coach found at Tenth street and White river, stripped two rear wheels. K Echert. 1066 West Pruitt street. Ford sedan found at Riverside park Red Cab Companv 739 East Market street. Red Cab 161. Ford sedan, found in rear of 815 North Delaware street. P. Gordon 1048 Gross avenue. Chevrolet' sedan, found at Tenth street and Holmes avenue Angelov Dapriel. 953 South New Jersey street. Chevrolet coach found at Eagle creek and Minnesota street, stripped.

THE INDIANAPOLIS TIMES

Loose Wiles 40 Natl Biscuit 32% Natl D Prod 17 17 Purity Bak 10% 10% S Por Rico Sug 31% Std Brands 19% 19% Un Biscuit 23% Retail Store*— Assn Drv Goods 10 Best A Cos 32 Gtmbel Bros 3% Gr Un Tea 5% Hahn Dept Sts 4’, Jewel Tea 47% ... Kresgke S S . 17% Mont Ward 24 23 s * 24 24 Natl Tea 10% 10% Penns- J C 57% Salewav St 47% Rear* Roebuck . 37% 37% 37% 37% Wool worth 48% 48% Aviation— Aviation Corp 4% Curtiss Wright 2% 27* Curtiss Wright A 8 Douglas Air 17% Nor Am Av 3% 3% Speerv Corp 7’, 7% United Aircraft 14% 14% Chemicals— Air Reduction 98 97 Am Com Alcohol 28% Cos! Carbon ... 67’* Com SoAents .. 20% 20% 20% 20% Dupont 89% 89% 89 s , 89% Freeport Tex 30% 30% Liquid Carb 23 22% Montosonta Ch. 53 Natl Dis 1 newt 21V* 21% Schenelev Di*t 21 % 22 Tex Gulf Su'.ph 34’* 34% Union Carbide 41% 42 Drugs— Zonite Prod 4% Financial— Adams Exp ... 7 s * .lleghenv Corp 2 Transamerica 6 Tr Conti Corp. 474 Building— Am Radiator 1374 13% Gen Asphalt .. 17% Johns Manvllle 457* 45 Libby Owens Gls 14% Household— Col Pal Sect 1474 14% Congoleum ... 28% Simmons Bed 9% Textiles— Amer Woolen 8% Ceianese Corp . 1974 19% 19% 20 Collins Aikman 12% ... Indus Rayon 22’, ... Kayser Julius 1474 ... New York Curb (Bv Abbott. Hoppin A Cos.) —Sept. I. Close. Close. Alum Cos of Am 55% Gold Seal Elec 2 Am Cyanide B 17% Hiram Walker . 29 Am Gas A El 22Vs Humble Oil ... 41% Am Superpower 2 IHud Bay Min . 14% Atlas Corp .... 9'% Libby McN Libby 8% Can Marc 2 iNatl Bell Hess 2% Cities Serv ... 2 [ Nia Hud Pwr... 4% Cord Corp .... 4 ;Std of Kv 15% Creole Petrol.. 13% Penn Road 2 Deere A Cos. . ]6% Std of Kv 15% Distillers Corn . 16%Teck Hugh Gold 6% El Bond A Sh 11 lUn Pwr A Lt A 2 Ford of Europe B’.* Wright Har Min 10 Glen Aldcn Coal 19 I

Chicago Stocks Bv Abbott. Hoppin & Cos ——

—Sept. 4 High. Low. 11:30. Asbestos Mfer 1% Berghoff Brew Cos 4’* Borg-Warner ... 21 Butler Bros 8% Chicago Corp com 2 Commonwealth Edison. 45% 45% 45% Cord Corp ... 4 Marshall Field At Cos .. 10% 10% 10 s * General House Util .... .. 8% Libby-McNeil 8% 7% 7’* Public Service N P ... 13% Swift &Cos 19% 13% 18% Vortex Cup Cos 16 15% 16 Walgreen Cos com 23%

Bond Prices — ' ~ (By Fenner & Bepnei --

—Sept. 4 , High. Low. Close. Alleg Corp 5s ’SO 27 Am&For Pwr 5s 2030 50 Atchison gen 4s ’95 102 101V* 101% BfcO CV 4%s '6O 66% Can Pac 4s '57 74% 74 74 ChMStPifcP adj 5s A 2000 9% ChMStP&P rs 5s A '75 29% Cons Gas NY 4%s ‘57.. 102 % Goodyear 5s 57 .100% 100% 100% Gt Nor 7s A '36 89% 89 89 Interboro RT 5s '66 - . 74 73% 73% McKess&Robb 5%s 'SO .. ... 82% Nata Dairy db 5%s '4B 98% Pac Gar, &El 5s A '42. .106% 106% 106 1 Penn RR 4%s D 'Bl 95% Royal Dutch 4s 4 '45 141 Vanadium 5s '4l ... 85 Ygstwn S&T 5s B 70 84% U. S. GOVERNMENT BONDS 'By (Jnitd Press) NEW YORK, Sept. I.—Closing Liberties: (Decimals represent thirty-seconds) Liberty First 4%s (32-47) 103.8 Fourth 4%s (33-38) 103.24 Treasury 4%5—3%s (45) 102 24 4%s (47-52) 112.3 3%s (43-47) 103. 3%s (41-43) March 103.6 3%s (40-43) June 103.16 3%s (43) 103.11 3%s (46-49) 101.2 3s (51-55) 100.4 FEDERAL FARM LOAN BONDS —Sept. 4 (Bv Blvth & Cos., Inc.> 4s July 1. 1944-46 98 98% 4s Not’. 1. 1957-37 97% 98 4s Mav 1. 1958-38 97% 98 4% s Juiv 1. 1956-36 98 98 % 4%s Jan. 1. 1957-37 98 98% 4%s Mav 1. 1957-37 98 98 % 4%s Nov. 1. 1958-38 98% 99% 4%s May 1, 1942-32 99 99% 4%s Jan. 1. 1943-33 99 99%, 4 L.s Jan. 1, 1953-33 98 98% July 1. 1953-33 98 98 % 4%.s Jan. 1. 1955-35 98 98% 4i>s Jan. 1. 1956-36 98% 99% 5s May 1. 1941-31 100% 100% 5s Nov. 1. 1941-31 100% 100% —Home Loan—--3s May 1964-44 97.30 98 04 4s July 1, 1951 97.30 98.04 —Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 99% 100% Produce Markets Delivered in Indianapolis prices: Hency hens. 12c; Leghorn hens, Bc. 1934 broilers. 2 lbs. ana 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 strictlv fresh country run eggs, loss off 18c. Each full case must weigh 55 lbs. gross- a deduction of 10 cents a pound for each pound under 55 lbs. will be made. Butter—No. 1. 30®31c. Buttfat. 23c. Quoted by Wadley Company. (Bv United Press) (Bv United Press) CHICAGO. Sept. 4—Eggs—Market unsettled: receipts, 5.843 cases; extra firsts. 21® 22c; fresh graded firsts. 21 %c: current receipts, 17® 20c; dirties. No 1. 17c; No. 2. 14c: checks, No. 1,16 c: No. 2,14 c. Butter —Market, easy receipts, 13.471 tubs: extra firsts 190-91% score'. 24%® 25%c: extras 192 score. 25%®26c: firsts 183-89% score'. 23 % ® 24c: seconds >B687% score . 22®23c. specials. 25%®27c; standards. 25c. Poultry—Market, firm: receipts. 1 car. 47 trucks, 2 cars due: fryers. 15%®17%c; broilers. 15%®17%c: geese, old. 12c; turkevs. 10® 15c; old roosters. 11c: hens, 14%®17c: Leghorn hens. 12c: black chicks. 10® 12c; barebacks. 13c: rocks. 8c; old ducks. 12a 18c: spring. 12® 16c; Rock springs. 19®20c: Leghorns. 12c Cheese—Twins. 13®13%c; daisies. 13% and 14c: Longhorns. 13%®l*c. Potatoes —Supply moderate: demand and trading moderate: market, strong on Wisconsms. steadv on others: Wisconsin Cobblers. $1.30 u 1.40: Triumphs. *1.55® 1.65: Idaho Russets. $l7O •> 190; showing decay. *1.35® 155; combination grade. 51.45; showing decav, $1.15: U. S. No. 2. 51.25: Colorado McClures. 51.85®1.90. Wisconsin Russets. $1.75; New Jersey Cobblers. $135; North Dakota Triumphs. *1.60 i 1.65. Arrivals 139. on track 230. shipments Saturday 582. Sunday 87. Monday 91. NEW YORK. Sept. 4—Potatoes—Steady: Long Island. 35c®*1.50 bag; New Jersey. 40c® SI bag; southern. 75c bag. Sweet rotatoes —Steady; Jersey basket. 50c',i 1.75: southern barrel. *2.75® 3.25; southern baskets. 50c®51.50. Dressed poultry —Steady: turkeys. 15',/32c: chickens. 16% ® 28c; broilers, 164/28c: capons. 25® 35c; fowls, 9® 20c; Long Island ducks. 14® 17c Live poultry—Firm; geese. 6'-/7c: turkevs, 15®20c: roosters. 12c: ducks. 10 ®lsc: fowls. 13® 19c; chickens. 23',/25c: broilers. 16® 23c. Cheese—Dull; state whole milk, fancy to specials, 19® 20c: Young America, 14%®14%c Eggs—Receipts. 11.494 cases: market, firm; special packs including unusual hennery selections 2*® 28c standards. 23®23%c: firsts, 22c; seconds. 19%®20c: mediums. 19%®20c: dirties. 19%®20c: checks. 16%®17c. But-ter-Receipts. 7.040 packages: market, weaker: creamerv higher than extras. 26%® 27c; extra 92 score). 26c: first '9O- - score". 25®25%c; first ,88-89 score). 23%®24%c seconds 23®23%e: centralised '9O score'. 25c; centralized 'BB-89 score). 23’,® 24%c- centralized "84-87 score". 23®23%c. CLEVELAND, Sept. 4—Butter—Market weak: extras. 30c standards, 29c. Eggs— Market, steady: extra white. 23c; current receipts. 20c. Poultry Market, firm: colored fowl. 4% lbs. and up. 18c; colored fowl medium, 16%c. Leghorn fowl 3% lbs. and up, 14c; Leghorn fowl light 12qa springers Rock 3% lbs and up. I7® fßc: springers. Leghorn heavy. 10c springers Leghorn light. 15c: broilers colored. 15® 16c: old roosters, lie, ducks white. 5 ibs and up. 15c ducks light. 12c Potatoes —Long Island. $1.40® 145 a 100-ib. bag; Ohio. sl.ls*i 1.-0 lOO-lb. bag.

PORKERS DROP 15 TO 25 CENTS AT STOCKYARDS Vealers Advance Sharply; Cattle, Lambs Show Little Change. The largest decline in porker prices for more than a month was registered in early trading at the local stockyards today when the majority of all classes were around 15 to 25 cents lower than Saturday's close. Today’s sharp decrease was attributed mostly to a weak demand for pork at butcher shops and a substantial increase in receipts following the holiday. Receipts were estimated at 8,000, and holdovers numbered 1,022. The bulk. 160 to 325 pounds, was selling at $7.25 to $7.55, while light kinds weighing 130 to 160 pounds, brought $6.25 to $6.75. Extremely small grades sea'ing 100 to 130 pounds, sold at $5 to $6. Good packing sows, ranging from 275 to 350 pounds, were salable at $6.50 to $6.75. Heavy receipts flooded the cattle market, with prices, however, showing only a little change from Saturday's average. Receipts numbered 10.200, including 7,000 government cattle. Approximately half of the commercial supply consisted of stocker and eeder yearling steers. Finished beef steers made a good showing with most grades salable from $8.50 to $lO. Some choice kinds held higher. Early sales of feeder calves and yearlings held at $4 to $5.50. Despite a heavy run of receipts, unexpected strength was displayed in veal trading. Initial prices generally were 50 cents higher than Saturday. Bulk ranged from $7.50 down. Receipts were 1,350, including 350 government calves. Lamb prices continued unchanged, with ewe and wether grades salable at $6.50 to $7. Bucks were $1 less. Throwouts ranged from $4 to $5.50. Slaughter sheep sold mostly at $2.50 down. Receipts numbered 1,000. Asking was firm on hogs at Chicago with early bidding slightly lower. Receipts were estimated at 29,000, including 6,500 direct; holdovers, 1,500. Cattle receipts were 38.000, including 15,000 government; veals, 11,500, including 9,000 government; market weak. Sheep receipts were 18,000; market steady to weak. Auj. Bulk, Ton. Receipts. 28. $7.6541 7.70 $7.85 5,000 29. 7.75# 7.85 8.00 6.000 30. 7.65<?<! 7.75 7.90 5.006 31. 7.75® 7.65 7.75 6,500 Sept. 1. 7.55® 7.65 7.75 2,000 4. 7.25® 7.55 7.55 8,000 Market, Lower. (140-160) Good and choice . $ 6.50® 6.75 —Light Weights—-(l6o-180) Good and choice.... 7.40® 7.50 ÜBO-200) Good and choice. .. 7.45® 7.05 —Medium Weights—-(2oo-220) Good ana choice ... 7.50® 7.55 (220-250) Good and choice ... 7.50® 7.55 —Heavy Weights—-(2so-290) Good and choice.... 7.35® 7.50 (290-350) Good and choice.... 7.15® 7.35 —Packing Sows—-(27s-350) Good 6.50® 6.75 (350-425) Good 6.35® 6.65 1425-5501 Good 6.25® 6.50 (275-550) Medium 6.00® 6.35 —Slaughter Pigs—-(loo-130) Gooa ana choice ... 5.00® 6.00 CATTLE Receipts. 10,200; Market, Steady. —Steers—-(sso-900) Choice $ 7.00® 8.50 Good 6.00® 1. 75 Medium 4.50® 6.50 Common 3.00® 4,0 U (900-1,100) Choice 8.50® 9.75 Good 6.75® 8.(5 Medium 5.00® i.UO Common 3.75® b.uo (1.100-1,300) Choice 9.00®10.40 Good 7.25® 9.25 Medium 5.50® 7.50 (1.300-1,500) Choice 9.50®10.50 Good B.oo® 9.75 —Heifers—-(sso-750) Choice $ 7.00® (.75 Good 5.7a® 7.00 Common and medium 3.00® 5.75 (750-900) Good and choice ... 5.75® 7.75 Common and medium ' 3.00® 5.75 —Cows— Good 3.75® 5.00 Common and medium 2.75® 3.75 Low cutter and cutter 1.50® .75 —Bulls—(Yearlings excluded) Good 3.25® 3.75 common and medium 2.25® 3.25 VEALERS Receipts, 1,350; Market, Higher. Good and choice $ 7.00® 7.50 Medium 4.50® 7.00 Cull and common ;... 2.50® 4.50 —Calves—-(2so-500) Good and choice.... 4.75® 6.50 Common and medium 2.50® 4.75 —Feeder and Stocker Cattle — (Steers) (500-800) Good and choice.... 4.50® 5.50 Common and medium 3.00® 4 50 (800-1,050) Good and choice.. 4.50® a.50 Common and medium 3.00® 4.50 (Heifers) Good and choice 3.00® 4.25 Common and medium 2.50® 3.00 —Cows— Good 2.50® 3.25 Common and medium 2.25® 3.00 SHEEP AND LAMBS Receipts, 1,100; Market. Steady. Lambers, 90 lbs. down, good and choice ' I 6.50® 7.00 Common and medium ’ 4.25# 6.50 —Ewes—-(9o-120) Good and choice .. 2 00® 2.75 (120-150) Good and choice 1.75® 2.50 All weights, common and medium 1.25® 2.00 Other Livestock (By United Press) LAFAYETTE, Sept. 4.—Market, 10# 30c lower; 200-250 lbs., lbs.. $7®7.30: 170-200 lbs., $7.25®7.35: 150170 lbs., $6.50# 7.15: 130-150 lbs.; $6fa6.25-120-130 lbs.. $5.50® 5.751 100-120 lbs., $4.75 # 5 25; roughs. $6 50 down; top calves. $6.50; lambs, $6 down. FT WAYNE. Sept. 4—Hogs—lsc lower: 250-300 ibs . $7.50: 200-250 lbs,. $7.40; 180200 lbs. $7 30: 160-130 lbs.. $7.20: 300-350 lbs.. 7 30: 160-160 lbs . 140-150 lbs . ii. 35; 130-140 lbs. $6 10: 120-130 lbs, *5.85: 100130 lbs. $5 20: roughs. S6; stags, $3.75; calves. $7; lambs. $6.50. (By Times Special) LOUISVILLE. Sept. 4—Cattle—Receipts. 250 salable supply slaughter cattle very light quality plain: market opened slow with sales fully 25c lower on steers and heifers, and compared with Monday: early sale of other grades and classes, mostly steadv: bulk common to medium grade slaughter steers and heifers. s3® 4.50; better finished kinds, mostly $5®6.25; most early sales of common to medium grade beef cows. $2 50®3: better kinds to $3.50. and heifer types quotable higher: most low cutters and cutters. $1®2.25: sausage bulls, scarce and based on Monday's quotations at mostly $2 75® 3.25: most desirable Hereford stockers. $4 50® 550 depending on weight and quality: bulk common to medium grade natives. $2.50®3.50. Calves—Receipts. 300: market steadv: bulk better grade vealers. *6®6 50: strictlv choice handvweights salable to $7: medium and lower grade vealers. $5 50 down: grass calves mostly *4 50 down Hogs—Receipts. 500 15c lower: top and bulk desirable 185275 lb. weights. $7.50: weights 280 ibs ud. S7 05: 160-180 lbs . *6 80: 140-155 lbs.. *6 30: 120-135 Ib.s.. *4 80: sows. *5 30; grassy and unfinished hogs subject to a discount. Sheep—Receipts, 500; supply light: qua;.;*' plain: market generallv steady: most desirable trucked in ewe and wether lambs. $5 75® 6 choice *6 25 with overnight and long haul offerings absent: early and quotable to *6 50 for choice grades: bucks d’seounted. throwouts mostlv *3 50 down: most fat slaughter ewes *l®2 * f ock ewes steady at *6® 7.50 a head; choice to *B. 46,171 Passengers in July By Time * Special WASHINGTON. Sept. 4 Passengers carried by scheduled airlines in the United States in July amounted to 46,171, according to the department of commerce. Twenty-one companies are reported to have flown 17,934,542 miles during the month. t

Rail Equipment Makers Believe Rate Increase Would Reduce Orders Majority of Purchases to Replace Rolling Stock Have Been Financed Almost Entirely Through PWA Loans, They Say. By Timet Special NEW YORK. Sept. 4.—Railroad equipment men disclosed a hesitancy today to build any strong hopes for revival in their lines directly upon such prospects as might be inferred from the railroads' application for increased freight rates. July operating results, taken for the Class 1 roads as a whole, were interpreted as too strongly indicative of adverse conditions to expect that higher freight rates, even if they were granted, would of themselves assure an equipment-buying program by the carriers.

The results in July, marked by a drop of 45 per cent in net operating income as compared with the same month of last year, were construed ; as largely reflecting maintenance expenidtures upon a larger scale than was followed in preceding months. It has been pointed out before that the roads made a particularly good showing in net operating income, in relation to gross revenues, during the earlier months of this year, chiefly by skimping maintenance expenditures and neglecting or storing up essential equipment repairs. Such a program could not be folj lowed indefinitely, however, it was pointed out, even in the desire to keep up net operating income to favorable levels. % Fail to Heed Eastman The railroads have largely failed to carry out the urgings of Joseph B. Eastman, ffderal co-ordinator of transportation, to replace a great part of their rolling stock, and such purchases as have been made have been financed almost entirely by PWi\ lians. In the meantime, the inventory of equipment in need of repair has been growing. With such conclusive evidence of the adverse effects upon the earnings picture by a fuller allowance for maintenance and repair requirements, as was presented in July, equipment men were not willing to believe that increased freight rates would go further than to cure immediate operating problems. On the other hand, there was prevailing belief that the government is not likely to meet the railroad problem with any makeshift extension of aid. Wide Program Expected There is growing belief that, under Mr. Eastman’s direction, the administration is more likely to present a far-reaching pian for the entire carrier system. The possible benefits of increased freight rates were regarded as highly problematical, particularly since possible loss of business to competitive transportation would immediately become a factor. While the attitude of the railroads toward equipment continues largely one of marking time, a decided upturn in expenditures for signaling and safety devices was reported. In this field the railroads have held their expenditures to a minimum throughout the depression, but it was stated that further delay in enlarging the scope of repairs and replacements was found impossible. JULY STEEL OUTPUT DIPS 49 PER CENT Wages, Employment Also Show Decline.' By Times Special NEW YORK, Sept. 4.—The recent decided decline in steel operations is reflected in the report of wages and employment in the steel industry for July which was issued by the American Iron and Steel Institute today. The report shows that while the industry’s operating rate in July declined from 52.68 per cent of capacity to 26.75. a drop of 49 per cent, employment and wages during the month showed a much less severe drop. The number of wage earners employed in July was 383.673. as compared with 415,547 in the previous month, a decline of only 7 per cent. Average hours worked per week for each wage earner was 24.4 compared with 35.7 in the previous month, a drop of 11.3 hours or 31 per cent. Total wages exclusive of salaried employes was $26,150,272 in July, a decline of $14,480,042 or 35 pier I cent • from the previous month. Average earnings per hour among the wage earners declined only 1 per cent from 63.9 cents per hour to 63.2 cents. The total number of employes in the industry in July was 424.126 compared with 455.966 in June. Total pay roll for the industry was $34,913,521, a decline of 31 pier cent from June’s total of $49,466,664. Deaths Eva M Wilson, 38. Methodist hospital senticaemia. Nannie Ethel Theobald. 30. Coleman hospital, myocarditis. william C. Bartholomew. 56. of 3218 North Capitol, cerebral hemorrhag® Charles Sigmund, 14. city hospital, fractured skull. Retta I. Coon. 1 city hospital, acute enteritis. Maude Garver, 57. city hospital, broncho pneumonia. Donna Jean Steinker, 7 months. 1411 Gladstone, meningitis. Charles Schier, 62, city hospital, broncho pneumonia. Rose Marie McKenna, 60, St. Vincent's hospital, carcinoma. Donald Durham. 2, of 1518 East Seventeenth. pneumonia. Rosa Bell McGee, 64. of 218 Hancock, chronic myocarditis. Mary Elizabeth Coston. 78. of 804 Darnell. chronic myocarditis. Alice May Plunkett. 52, of 103 N. Edgehill. cerebral hemorrhage Robert E. McMahan. 51. West Tenth and Big Four Railway, chronic regurgitation. Nellie E. Lemmon. 57, of 6323 Ferguson, cerebral hemorrhage. Mary Jane Cordell. 89. of 1002 West Thirty-first, chronic interstitial nephritis. Roy John, city hospital, broncho pneumonia. Laura E. Caldwell, 73, city hosp.tal, chronic myocarditis Leslie Lee Bovard. 55. of 1548 South Belmont, chronic mvocarditis. Henry G. Deuhardt, 71. Methodist hospital. carcinoma Howard Morris, 18 months, Riley hospital. acute entero colitis. John C. Johnson. 88. Veterans hospital, mitral insufficiency. James A. Hanlin. 96. of 2si6 N. Station, myocarditis. Olive Sherwood. 71. of 1022 East Orange. mitral insufficiency. UleSs 8. Passmore, 47, Veierans hospital. myocarditis. Charles Robertson, 82. of 34 North Addison. hypostatic pneumonia. John Edmgton. 8. Methodist hospital, meningitis. John Earl Epars. 8 months, city hosp.tai. acute enteritis. Adeline L Scott. 81, of 3427 North Capitol, coronary occlusion. Arthur J. Mutter. 61. of Twenty-eighth street and Monon railway, coronary occlusion. A. Judson Brenton, 78. of 373 Burges*, chronic myocarditis. Anna Schwenk Kalieap. 48, Meehodm < hospital, lethargic eacephautix,

FUTURE OF U, S. BUSINESS'GOOD' J. H. Jones, RFC Chairman, Expresses Confidence in Recovery. By United Press WASHINGTON, Sept. 4.—Chairman Jesse H. Jones of the Reconstruction Finance Corporation, the nation's biggest money lender, today expressed confidence that the nation is slowly beating its way back to normal. The jovial, ruddy-faced chairman, whose organization has $7,000,000,000 to pump into the country's banking, railroad and industrial channels, stated that the future is ‘'good." Strengthening of the nation’s banking system, through federal aid, Jones believes has been the most important factor in determining recovery. “The banking situation is good. In that lies the pillar of all economic security. Banks, everywhere, can and wish to loan money to stimulate business,’’ he said. He revealed that the RFC's purchasing of preferred stock, capital notes and debentures in closed banks is nearing an end. ‘"We have purchased about $1,180,000,000 already. With an additional $100,000,000 we expect to clean it up by Jan. 1. 1935,” he said. Previous indications were that about $200,000,000 more would be spent and the purchasing continued until next July. At the same time, he said the $580,000,000 authorized by the last congress for direct loans to industry was “not being disbursed as rapidly as expected.” The federal reserve board and the RFC, which were authorized to ihake loans, have approved only about $18,000,000 thus far. Stiff requirements for loans and the inability of applicants to furnish sufficient collateral are cutting down the figure. L. B. MANNING NAMED PRESIDENT OF CORD W. H. Beal Appointed to Head All Manufacturing Companies. By United Press CHICAGO, Sept. 4.—Directors of the Cord Corporation today announced the election of L. B. Manning as president of the Cord Corporation. E. L. Cord will remain a director and a member of the executive committee and R. S. Pruitt, general counsel, was elected vice-president. At the same time Mr. Manning announced that W. H. Beal, recently elected a vice-president of the Cord Corporation, would establish offices in Chicago and become his assistant, in charge of manufacturing for all Cord Corporation companies. The appointment of Mr. Manning to head the powerful Cord group has been expected for some time, since, as executive vice-president, virtual direction of the corporation has been in his hands for the last two years. Births Boy* Lawrence and Edith Dailey, 2204 Haines. Glenn and Marv Martin. 2160 North Tacoma. Hewitt and Jessie Burt, citv hospital. William and Ethel Mann, citv hospital, Paul and Maxine Wilson, citv hospital. James and Helen Graham, city hospital. Allen and Gertrude Creekbaum. city hospital. Omer and Marearet Center, city hospital. Charles and Mabel Hooten. city hospital. Virgil and Pearl Freeman, citv hospital. Joseph and Ruby Gore, city hospital. Rudolph and Lillian Schaefer, city hosiptal. Ray and Mildred Baur. Coleman hospital. Ralph and Lucille Ringlespaugh, Coleman hospital. Charles and Emily Smith. Coleman hospital. Esta and Neva Hill. 4711 Manlove. Charles and Virginia Mcßride. St. Vincent's hospital. George and Harriett Stiefeld, Methodist hospital. Solomon and Millv Bortz. Methodist hospital. Lewis and Georgia Dunham, Methodist hospital. Forrest and Mae Campbell. Methodist hospital David and Christine O'Neill. St. Vincent’s hospital. Albert and Kathryn Kavanaugh, St Vincent's hospital Russell and Louisa Dunmlch. St. Vincent's hospital. Girls William and Marie Partlow, 703 Russell. Manuel and Pearl Crayton, city hospital. Edward and Clara Johnston, city hospital. Clark and Norma Richard, city hospital. Robert and Harriet McLear, city hospital Robert and Anna Long, city hospital. Virgil and Clara Edmonds, Coleman hospital Owen and Ruth Fancher, Coleman hospital. George and Mary Hannsman, Coleman hospital. Harvey and Lena Nichelson. Coleman hospital. James and Helen Paxton. Coleman hospital. Irving and Doris Richards. Coleman hospital. Earl and Eleanor Spry. Coleman hospital. Robert and Cordelia White, Coleman hospital. Walter and Verlie Lamkin, 3105 School. Frank and Iris Llebtag. St. Vincent's hospital. Norma and Mary Carey. SC Vincent's hospital. John and Margaret Watts, St. Vincent’s hospital. Joseph and Ann Clemans. St. Vincent’s hospital. Bernard and Evelyn Conroy. St. Vincent's hospital. Elmer and Fay Marchino, St. Vincent's hospital. Otto and Merritt Puckett. St. Vincent's hospital. Joseph and Florence Harmop. St. Vincent's hospital. Fred and Mary Wagner, Methodist hospital. Thurman and Gertrude Loudermilk. Methodist hospital. Harold and Anna Hungate. Methodist hospital. Philip and Florence Early. St. Vincent's hospital. Robert and Fannie Ellis. 1902 North CaDitoi. Ti'.man and Carolyn Thompson. 959 North Tremont. Railroad Traffic Rise* By Times Special CHICAGO. Sept. 4. Revenue freight of the Chicago, Burlington A- Quincy railroad during the previous week amounted to 22.620 cars, compared with 20.600 in the same week of 1933, it was reported today.

SEPT. 4, 1934

MAJOR GRAINS BREAK SHARPLY ON LIQUIDATION Weakness in Foreign Prices Encourages Selling at Chicago. BY HARMAN \V. NICHOLS Inited Press Staff Correspondent CHICAGO. Sept. 4—Weakness in foreign prices encouraged seeing in wheat at the opening of the Board of Trade today and values here were sharply lower. Wheat started 7 * to 1% cents lower, corn was off % cent, oats were down \ to \ cent, and rye was off % to 3 * cent. Rotterdam cables reported wheat there closed ’* to a cent lower than yesterday while Winnipeg opened % to a cent lotver. Trade was rather active at the start with selling in corn setting the pace. Chicago Futures Range —Sept. 4 Whi-at— High. Low. 10:00. dose.' Ms 1.04 1 03% 104 1.04% Corn—- ?/ c 79% .78% .79 80 Max 82% 81% .82 82% Oats— Sept 51 .50% .51 ,51 s * ?/' c 51 s * .51% .51 s , .51% M av 52 1 * .51% .52% .52% Bye— Sept 83 .81% .82% .82*4 £ ec 85% .84% .85% .85% May 89% .88 .89 .88% Barley— Sept .81% 81% Dec 78% May 79-14 CHICAGO PRIMARY RECEIPTS * —Sept. 1— —Bushel*— „„ . Today. Last week. Wheat 943,000 889,000 Corn 1,126.000 1,010,000 Oats 159,000 175.000

Cash Grain

INDIANAPOLIS —Sept. 1— The bids for car lota of (train at the call of the Indianapolis Board of Trade, f. o. b.. shipping point, basis 17’ 2 C to river. Wheat—No. 1 red, 93ft94c; No. 2 red. 92ft93c; No. 2 hard, 94ft95c. Corn—Steady. No 2 white, 77ft78c- No. 3 white, 76ft 77c; No. 2 yellow, 74' 2 ®7Sc; No. 3 yellow. 73'ift74r: No 3 mixed. 73ti ft 74c: No. 3 mixed. 72' ..ft 73c. Oats—Steady: No. 2 white, 50K51C: NO, 3 white, 49ft50c. (By United Press) CHICAGO. Sept. I.—Cash grain: Wheal No. 2 dark hard. $1.09; No. 3 dark hard, si OS'j: No. 3 mixed. $1.03’..c. Corn—No. mixed. 80' 2 c: No. 3 mixed, 80c: No. 1 yellow. SO 1 2 c; No. 2 yellow, 80' 2 c; No. 3 yellowy 79 ft 80 1 jC : No. 4 yellow. 79Uc: No. 2 white. 82 , ift’84 , < c: sample. 77c. Oats— No. 2 white 53’jc: No. 3 white. 52‘.'c: No. 4 white, 49’ic. Rve —No sales. Barley—85cft$116; quotable, 75cft51.30 Timothy—sl7.soft 19. Clover seed—sl4 45ft l8:75. Cash provisions—Lard. $9 25; loose. $9.45: leaf. $10.25; bellies, $13.90. Local Wagon Wheat City grain elerators are paving 90 cents for No. 2 soft red wheat. Other grades on their merits STANDARD OIL DIVIDEND PAYMENTS INCREASE Total of $101,537,187 Distributed in First Nine Months. By Times Special NEW YORK, Sept. 4.—Cash dividend payments by the companies of the Standard Oil group for the first nine months of 1934 are estimated at $101,537,187, compared with $86,480.455 in the corresponding period of 1933, an increase of $15,056,7340r approximately 13 per cent, accord** ing to figures compiled by Carl H. Pforzheimer & Cos. Aggregate disbursements of the group in the third quarter of 1934 will total $18,582,065, which, although the smallest quarterly total for some time, does not indicate ad verse dividend actions, but reflects the change in dividend pol-iB icy by several of the large com-j| panies, whereby distributions being made semi-annually in the second and fourth quarters instead of quarterly as heretofore. Total distributions in the preceding quarter amounted to $58,698,141. MARKET VALUE OF 100 COMMON STOCKS UP August Increase Largest for Any Month Since January. B >/ Times Sprdal NEW YORK, Sept. 4.—The market value of 100 representative common stocks advanced $620,799,000, or 5.2 per cent, to $12,538,336.000 in August, according to the monthly survey of Frazier Jelke &s Cos. The August rise is the largest for any month since January and compares with a decline of $1,574,582.000, or 11.6 per cent in July. The group advanced four-tenths of 1 per cent in June; declined 8.5 per cent in May; last 3.5 per cent in April; gained three-tenths of 1 per cent in March, and depreciated 3.8 per cent in February. The January rise was 11.1 per cent. At the end of 1933 the 100 stocks were appraised at $14,204,282,000, or $1,665,946,000 more than at the end of August. This indicates that stocks have declined 11.7 per cent thus far in 1934. HOG PRICES BELOW $lO ARE NOT PROFITABLE Farm Bureau Chief Says Farmer Is About Breaking Even. Hog prices below $9.50 or $lO a hundredweight are not profitable for the farmers. At least so says Lee R. Highlen, director of the Indiana Farm Bureau livestock marketing department. Costs have advanced so that any lower price is not feasible, according to Mr. Highlen. He said that from 1909 to 1914 the farmer received 72 cents out of each dollar spent by the consumer. Today the farmer receives only 36 cents. Since the cost of distribution has doubled and com is selling for about 85 cents a bushel, the fanner does little better than break even, notwithstanding today’s high hog prices. Past prices. Said Mr. Highlen, have been ruinous for the farmer.

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