Indianapolis Times, Volume 46, Number 101, Indianapolis, Marion County, 6 September 1934 — Page 18

PAGE 18

Wall Street Some Banks Refuse to Expand Holdings of U. S. Bonds. —BY RALPH HLNDERSHOl — TWn fluirlil Writer

Several leading Wall Street banker* are reputed to have aent word to President Roosevelt and Secretary of the Treasury Morgenthau that they do not desire at this time to increase their holding* of United States government bonds, according to supposedly well-informed people in the financial district. Con-

firmation could not be obtained. but this is said to have been the cause of the heavy conferences between the President and his treasury’ chief at the end of last week. The bankers are understood to have explained that they already

Hendershot

have much more than their usual quota of such obligations, and that they shortly may have a need for their surplus funds to make loans to business. They are known also to have been quite concerned over * the action of the government bond market of late and to be disturbed i over the recent developments in the ! foreign exchange market, suggesting the possibility of an international currency war. If this is true—and ban v * financing activities of late tend to give it some support—the government is placed in a rather embarrassing position. It has maturities of $525,000.000 to meet on Sept. 15 and sl.200.000 000 on Oct. 15. The banks and large institutions have been the biggest buyers of government bonds in recent months. m m a COMMENTING on the government bond market in its regu- ; lar monthly business survey, the National City bank said in part: “Revival of inflation fears, stimulated by the announcements on silver, was undoubtedly a factor in the lower prices of government bonds and high-grade corporation issue*. The fact that the drop in prices occurred in the face of large and increasing supplies of funds available for investment indicates the importance of the factor of confidence in maintaining the market for government securities ” That the status of the government bond market is far from satisfactory is quite generally admitted, i In the first place, too large a percentage of the total outstanding is held by the banks and too little by ! the general public. The fact that i the average investor is not especially interested in the tax exemption feature is partially responsible for this. J Before the government could interest the man in the street with its ■ bonds it would be obliged to raise [ their yields, which, in turn, would make financing too expensive. mam IT is not good policy, the Street believes, for bankers to keep too many of their eggs in one basket, even though they could get loans at any time on their government bonds from the Federal Reserve banks. The point is made that there is a limit, too. beyond which the reserve banks should go in holding such bonds, inasmuch as they are. in a sense an agency of the government, which means that the government would be placed in the position of holding its own securities. In all probability, if outright currency inflation were to be indulged in the banks would hasten to unload their government bonds on the Fed- j eral Reserve banks. Asa matter of fact, they could do this on almost any pretext. In the final analysis, j therefore, the government is to a I very important degree at the mercy j of the banks, just as was the case \ with New York City some months ago. On the other hand, though, it is realized that the banks would be unlikely to take advantage of their position. The government has an ace in the hole in that it could take over the banks. N. Y. Coffee. Sugar Futures —Sept. S—COFFEE —Santo*— High Lo* Close March lON lots 1" 98 MY 11 oo 10 98 11 00 JulY ll.oi 1100 1101 September 11 03 10 99 11.02 Her eto be r 094 10 94 10 .94 —Rio— January 796 7 -J* 7 -J* March 8 06 8 os 8 06 M, 8 12 8 12 I 12 Julr 8 23 8 21 8 21 September 777 Z 55 2 December <96 .90 .90 SI'GAR High. Low Close. January I** J** }** May 1 96 1 94 1.95 Ji!r 1 99 1 98 1 98 September 185 183 1.83 DwemtSr 192 196 191 In the Cotton Markets —Sept. 5 CHICAGO Heh Low Close January 11 40 13 32 13 40 March 11 50 13 37 11 49 Mit 13 5* 13 43 13 54 October 13 2* 13 17 13 28 December 13 42 13 28 13 41 NEW YORK January 13 34 13 32 13 34 March 13 42 13 26 13 39 Mav 13 48 13 31 11 45 Jul* 13 52 13 37 13 52 October 13 19 13 7 13 16 December ... 13 32 13 17 13 2* NEW ORLEANS January 13 14 13 23 13 32 March 13 42 13 26 1* 33 May 13 34 13 31 13 74 Julr 13 39 13 36 IS 39 October 13 34 12 10 13 19 December 13 32 13 1* 1* W Retail Coal Prices Hie following prtces represent quotation.* from .ei<Lnc Indianapolis roa: dea.ers A 25-cen* earrrtnr charge per ton will *e added D0341M ll RETAIL PRUtS Anthrac. * 913 M Brant Lump 89® Brazil Egg 990 Brmrtl Mine Run ill Cot* Nut Sire 954 Coke. Eac Site 9 if Indiana Forked Lump No 4 and 8 5.75 Indiana Fcg . 9.75 Keatucat Lump. Oroup "B' 1.19 { Pocahontas Lump In Pocahontas Egg 8.95 Pocahontas Mine Run .. .0 Nets River Smokiest *2B july Insurance "gains New Policies Written Daring Month Valued at S&M.MB.OM. 8f T,mr. Special WINCHESTER. Sept. 6 New life insurance written dunn* July totaled asorr than $694,000,000 in value, a slight decrease as compare* with June figures, according to the Winchester index. However, an increase was shown in the site of the average policy os compared with July a year ago. Average policy written in July this year was $665. against $630 last year, an increase of $45.

SECURITY LIST QUIET. UNEVEN; RANGE NARRQW

Carloadings Show Increase; Steel Operations at 19 Per Cent. BY ELMER C. W'ALZER I fitted Fret* Financial Editor NEW YORK Sept. 6 —Stock market was irregular and quiet today, fluctuating in a narrow range, while bonds were mixed. The dollar was steady, and cotton Armed 7 to 11 points. A favorable development was a rise in many of the car loadings reports for the week ended Sept. 1. These indicated the total for ail roads would register an unseasonal rise caused by heavier movement of coal and livestock. Railroad shares, however, were mixed, with New York Central at 22, off \; Chesapeake Ohio 44 %. ex-dividend, up Atchison 42V up V and Union Pacific 99'*. up V Steel shares were fractionally changed. United States Steel eased to 34. off V and Bethlehem last 3 to 29 V while National firmed to 41. Steel operations for the country held at 19 per cent, unchanged from the preceding week, according to the Iron Age. which noted: “Steel consumers, protected against higher prices until the close of the year by code provisions, are playing a waiting game, in the expectation that present quotations, in the absence of an impressive seasonal upturn in business, will eventually yield to the law of supply and demand.” Gold mining issues declined. Alaska Juneau approached its low for the year of 17 and Dome lost % to 45. Silvers were dull. Coppers were steady, with International Nickel featuring on a block of 1,000 hares. Money and Exchange INDIANAPOLIS STATEMENT —Sept. 5 Cleo.ings $2,127.000 00 Debits 5.511.000 00 FOREIGN EXCHANGE Bv Abbott. Hoppin & Cos Sept. 5 Clo.se S*rling England $5 00 1 . Franc. France 0669'j Lira. Italv 0871% Franc. Belgium 2383 Guilder. Holland 6875 Pese'. Spain 1388 Kron.\ Noruav 2519 Krone. Denmark 2238 Treasury Statement ißy UnUed Presai WASHINGTON. Sept. 6 - Government expenses and receipts of the current fiscal Year to Sept, 4. compared with the corresponding period of the previous fiscal Year. This year Last vear F.xpen*es *1 012,972 448 29 $592,768,563 42 Receipts... 553 550 119 09 370 409.648 03 Deficit 459.422.369 20 222.358.915 39 Cash bal 2 151.458.076 39 ... •• 1 Investment Trust Shares IBv Abbott. Hoppin & Co.i —Sept. 5 Bid Ask American Bank Stocks Corp .96 1.01 American A: General Sec A .. 3.00 4.50 American fc Inv Tr Sh ... 1.75 Basic Industry Shares .... 292 British Type Inv Tr 3h 48 .48 Collateral Trustee Shares A 400 4.12 Corporate Trust Shares > old 1.86 1.92 Corporate Trust Shares tnewi 2.12 2.16 Cumulative Trust Shares 360 3.69 Diversified Trust Shares A 625 Diversified Trust Shares B . 7.00 7.25 Diversified Tfu.st Shares C .. 2.78 282 Diversified Trust Shares D 4.25 4.37 First Insurance Stock Corp .. 450 4.87 First Common Stock Corp .. .52 55 Fixed Trust Oil Shares A ... 7.12 . Fixed Trust Oil Shares 8.... 6.12 Fundamental Investors .... 1.78 1.96 Incorporators Investments .. 16 18 17 39 Land Bank Bond Shares 1.13 1 26 low Priced Trust Sharis . .. 5.00 5.12 Mass Inv Trust Shares . 17.97 19.53 Nation Wide Securities 3 00 306 North Am Trust Shares <53• 1.76 No Am Trust Shares (55-56) 2.15 2.19 Notth Am T-ust Shares (54) . 216 2.20 Selected American Shares 2.29 Selected American Shares Inc 1.02 1.11 Selected Cumulative Shares 6.05 Selec'ed Income Shares 3.17 Std American Trust Shares A 2.72 2.77 Trust Shares of America ... 265 2.72 Trustee Std Oil A 525 537 Trustee Std Oil B 4 73 4.93 U S Electric Lt * Pwr A 11.00 11 37 Universal Trust Shares . .. 2.74 2.80 New York Bank Stocks <Bv Abbott. Hoppin & Cos.) —SeDt 5 Bid Ask Bankers 54 1 55 Brooklyn Trust . 84 86 Central Hanoier 117 118 Cha-e National 23% 24' Chemical 39 38% National Cttv 22 22' a Corn Exchange AS 1 * 45% Continental 12 12% Empire 17'* 18 First National 1 400 1.529 Guaranty . 311 313 Irvine 15 15% Manhattan At Cos 27% 28 Manufacture* 19 19 1 New York Trust 94 95 I Public 2 29% Daily Price Index <Bv United Press l NEW YORK Sept s—Dun A- Bradstreet* dailv weighted price index of thirty basic commodities compiled for the United Press: <1930-1932 Average 100' Todav 119.51 Yesterdav . 118.85 Week Ago 120.95 Month Ago 117.07 Year Ago <Sept. 6* 100 38 1934 High lAtlg 291 120.95 1934 Low iJan 3< 101 05 j Coovricht. '34 bv Dun A Bradstreet. Inc. ! Bright Spots Bv Abbott Hoppin A Cos • Pittsburgh Plate Glass Companv declared a dividend of 30 rents, payable Oct 1. to stock of record Sept. 10. Net profit of Rurrough* Adding Machine Company for six months, amounting to II.WI.M*. averages 32 rents a share and compares with a. net profit of Jt.V5.902. or 9 cents a share, for the first half of 1933. C.’ane*e Corporation of America has declared the regular quarterly dividend of $1 75 on 7 per cent cumulative preferred >'ock pavabie Oct. 1 to stock of record Sept 14 FIDELITY CO. CREATES NEW DEPARTMENT I. N. Worth I* Manager of Personal Loan Bureau of Bank. I. N Worth has been named manager of the recently installed personal loan department of the Fidelity Trust Company, Timothy P. Sexton, president, announced today. Mr. Worth assumes control and management of the new department after having been associated with the Fidelity company tweh’e years in the real estate department. In creating the personal loan department. Fidelity realizes the needs of individuals and will be in a position to loan money on collateral or indorsements bearing from SSO upward. the money to be repaid in weekly installments over a period of one year. Mr. Sexton announced. i The new department is in operation | and invites inquiries. Dividend Is Declared CHICAGO. Sept. 6.—Declaration of a 15-cent dividend by directors of the National Tea Company on common stock was announced today. The pavment will be made on Oct. l to holders of record Sept. 14. L

New York Stocks " fiv ADOolt HODDin A Cos AVERAGE STOCK PRICES FOR WEDNESDAY N>t High. Low. Close, channe. Thirty industrials 93.96 92.64 934* *1.65 Twenty rails 36.74 35.98 36.55 -.66 Twenty utilities 20.61 20.30 20.53 -.23 Forty bond* .... 92.55 -.08 Ten first rails .... 99.95 -.0.7 Ten second rails .... 74.80 —.41 Ten utilities .... 98.62 same Ten industrials .... 96.84 -.07 -Up. -Off. •Where quotation* are not riven there baa been no trading in those l**ne*.

—Scot. 6 Prev. Oil*— High. Low. tO 00. do**. Amerada < 7 % Atl Rfg 25'. 25 Barns'll!! J* Consol Oil 8' a S'2 Cont of Del Mid Cont Pet 12'2 12’* Ohio Oil 11 10;* Pet Corp .?% Phillips Pet I*% 16' Plymouth Oil Pure Oil 7'* Royal Dutch 35 Sbd Os! 27 Shell Un 7 Skellev Oil < 80c Vac 16 a 14' SO of Cal 34’, 34% SO of Ind 26’, 27 SOOf N J 44'* 44% Sun OH Texas Corn *l,* Tidewater Assn 10% 10', Un Oil of Cal 15 1 * Stels — Am Roll Mills 17’i 17% Beth Steel 29% 30% Byers AM 1® Inland Steel 39 McKeesport Tin 86 Natl Steel 61 Otis Steel ’ * Rep I & S 13 J 13'* U S Pipe & Fdy ■ „ U S Steel 36 33% 33% 34% U S Steel 34 33", 33’., 34 * U S Steel pfd 78 * Warren Bros 7 Youngstn SAT I 7 Motor*— Atihiirn 23', Chrysler '. 33’, 33*. 33% 33’, Oen Motora 29'* 30 Gr#ham Mot ... • •• 7 Hudson 8% 8 % 8 * 82 Nash 16 * Packard * Reo 2% 2% Btudebaker 3' 3 Yellow Truck 3Va Motor Aeeesa— Bendix 13', Bohn Alum * Borg Warner 21’a Briggs If* Eaton Mfg • " Elec Auto Lite . 24 23% 24 23% Houdaille (A).. .. ••• ••• 6 Murray Body .. .. ••• • * Stew Warner S'a 6% Mining— Alaska Jun 17% 17% 17% 18 Am Metals 17% Am Smelt 38 Anaconda 12* Cal & Hecla 3 2 Cerro de Pasco 60‘2 Dome Mines 65 45'2 Howe Sound 55% 55% Int Nickel 25 Kennecott Cop 19'a 19% Mclntyre Mine ••• l 8 Noranda Cop 42% Park Utah 3 3 , Phelps T)odge 16'* St Joe Lead 17 7 i 17 7 -* U S Smelters 140% Vanadium 18 3 * 18' Amusements— Croslev Radio 13' 2 Fox Thea ... ••• Uvi Loews Inc .. • 28 Radio Corn 5% 5% 5% 5 3 i RKO 2% 2% Warner Bros 4% 4 3 / Tobaccos— Am Snuff 62', Am Sum Tob 19 Am Tobacco B “fi’i Ligg & Myers B 98 Lorillard ■ 18'* Reynolds Tob B 46 3 4 46 3 a Rails— Atchison ... ... 52' r>2 • Atl Coast Lines 30 B fc O 16', 1612 Can Pac 16 14>/ 8 Ch At Ohio 44 3 / 44 3 a Chi A* Gt W 2 C M Ar St P 3'2 3", C M A St P pfd s’a Chi N W 6'2 6 3 a Chi N W pfd 12* 2 Del Lac & W 17 3 / Erie 13 3 , Erie pfd J 7 ', 4 Grt North pfd 15% 15% 111 Central n'i Lehigh Valley 12Va 12'a Lou & Nash 42 M K A T ... 7 M K A T pfd 16% Mo Pac pfd . 4 N Y Cent 22 21 7 i 21% 23 3 , N Y New Haven 10 3 / 10’ ? N Y Opt A West 5 3 , Norfolk A Wes , 172 Nor Pac ... 18 3 / 19 Penn R R 23 a Sou Pac 18 3 , 18 5 a Sou R R . 17'a 17 17 17 Sou R R pfd „„„ 20 Union Pac ?9% 99', West Maryland 10'/* 10 Eauipments— Allis Chalmers 13 3 , Am Car A Fdv 16'2 Am C A F ofd 36 ? Am Loco 17.2 Am Mach A- Fdv .. ... ... 14 !/ , Am Steel Fdv I 4 '* Bald Loco 6'a Burroughs Case J I 42', Cater Tract 26 7 a 26 7 , Deere A Cos 17[a FTlec Stor Bat 37 ? Foster Wheeler ... 12'4 Gen Am Tk Car 33 Gen Elec 19 19 Int Harvester 26 7 a 26 s a Natl Cash Reg H'2 Pullman Inc 42 Rem Rand ... ••• #nd Elliot 49 West Ar B 19% Westingh Elec.. .. ... ... 33 t* Utilities— Am A For Pwr 6' 2 Am Pwr A Lit 5' a 5 T A T 113 112 3 , Am Wat Wks 16% I'a Col Gas A Elec 9% 9' 2 Col G A E pfd 66 Com A Sou . 1% Consol Gas . 28 27% 28 27 3 „ Elec Pwr A Lit . ■ 4 % EP A L pfd 10Va 10 Int Hvdro Elec ... ... .. 4' 2 Int T A T 10*4 Nat Pwr A Lit . . H'a North Amer ... 14 1 /* 14 14 13 7 a Pac G A E 15Vi 15' 2 Peoples Gas 26 Pub Serv N J 32', 32 V, o Cal Edison 12 7 a 13 Std Gas 7 3 , Std Gas nfd .. ... •• 8 3 a S'one A Webster .. ... •• 6>, United Corp 4 4 Un Gas Lmp . 14 7 a 14% Western Union 37 36 5 a 37 36'2 Rubbers— Firestone 15 Goodrich 10 5 a 11 Goodyear 22 7 a 23 Kelly Soring I 7 * U S Rubber 16 3 4 16 3 , II S Rubber pfd 39 39 Miscellaneous— Am BBnk Note . .. ... 14' 2 Am Can 98 7 99 Brklyn Man Tr. 43 Conti Can - 81 Vi 81% Curtis Pub pfd . 83' 2 Gillette 12 UVa 12 ll 3 , Glldden ... ... ... 24'2 Inter Rapid Tr 14 Owens Bottle ... ... 68' 2 Ravbestos Mfg 18 3 17% Food*— Armour A 6% % Beatrice Cream 19% 19 19% 19 Borden Prod 26 26 Cal Packing 42% 42', Can Dry G Ale ... ... ... 15% Cont Bak A ... —7% Corn Prod 61% Cuban Am Sugar . 9 Gen Foods 30 29% 30 10 Gold Dust 18% 18% O W Sugar 30% Int Salt 31% Loose Wiles 40 Natl Biscuit . .33 3 , Natl D Prod 71% 17% 17% 17% Puritv Bak 10% S Porto Rico Sug 32 Std Brands 20% 19% Un Biscuit . 22 % 22% 22% 22' 2 United Fruit 73% Retail Store*— Asso Drv Goods 10% Gr Un Tea 5% Hahn Dept Sts 4% 4', Jewel Tea 46'* Kresege SS Kroger Groc 28% 28% Macv R H 38% Marshall Fields . .. ... 11% Mont Ward 24% 25 Natl Tea • 11 Penney J C 58 57% Safeway St .. .. ... .. 45% Sears Roebuck 38% Woolworth 48% Aviation — Aviation Corp 4% Curtiss Wright 2 s , 2% Curtiss Wr <AI 8% Douglas Air . 18*4 18 Nor Am At 13% 13% 13% 13% Speerv Corp 8 8 United Aircraft 15% 15% Chemical* — Air Reduction 98 Allied Chem 133% Am Com Alcohol 28’* 26 % Com Solvent* 20 3 , 21V* Dupont 89% FVeeport Tex 30 Math Alkali 28 28% Natl Dts inew) 21% 21 21% 21% Schenelev Dist 22 22% Tex Gulf SuSph 35% 35% Union Carbide 43% U S Ind Alco 40% 40% Drag*— Lambert 24’* 24 Un Drug 12% Zonite Prod ... ... 4 Financial— Adams Exp ... 7% 7% Allegheny Corp 2% Am Int Corp Chesa Corp ... . 40 Transamerica , 5% 5 s * 5* 5% Tr Conti Coro .. . 4% BaUdtag— Am Radiator 13% Johns Manvilie 47 47% Ltbbv C*wen* Ola 89 88. Oil* Bev 14% Uien Const * ••• ••• 14%

THE INDIANAPOLIS TIMES

Household— Col Pal Peet 15 14% 14% Congoleum 27% 28 Kelvlnator 13% 13% Proc A- Gamble 33% Simmon* Bed 10% Textile*— Amer Woolen 8% Belding Hem 12 Celanese Corp 21 Collins Aikman 12% Indus Ravon 23% Kayser Julius 14' a New York Curb (By Abbott. Hoppin <k Co.i —Sept. 5 Allied Mills 6% Hiram Walker . 29 Alum Cos of Am 55% Humble Oil 42 Am A-Fr Pr War 4% Imperl Oil Ltd 15% Am Cyan "B ". 17% Hud Bav Min ■ 14% Am Gas & El 23% Int Petrol 28% Am Superpower 2 Lake Shore Mm 48 Atlas Corp 9% Libby McN Lbbv 8% Brit Celanese 2% Lone Star Gas 5 Cn Ind Ale "A” 9% Natl Bellas Hess 2% Can Marc . ... 2 Nia Hud Pwr . 4% Carrier Corp 8 Novadel Agene 21 Cities Serv 2 Park Daivs .. 26 Comwealth Ed 46'2 i:> enn Road 2 Cons Gas Balt 66 iSt Regis Paper 2% Creole Petrol 13% Sal Creek Prod 6 Deere & Cos .. 17% Sherwm Wms . 17 Distillers Lim . 22% Std cf Kv 15% Distillers Corp 16% Technicolor Ind 12% El Bnd & Shre 11 Teck Hughes Gld 6% Frd of Can "A'' 20% Un Gas 2 Glen Aid Coal 19 !On Pwr&Lt"A" 1% Gulf Oil of Pa 55% Wright Har Min 10 Gold Seal Elec. 2%l Chicago Stocks Bv Abbott. Hoppin & Cos —— —Sept. 6 High. Low. 11:30. Berghoff Brew Cos 5 Borg-Warner 21% Butler Bros ... 8% Chicago Corp com 2'a Chicago Electric Mfg A 25% Cites Services l% Commonwealth Edison . ... 45% Cord Corp 4% 4 4', Iron Fireman ... 14% Libby-McNeil 8% 8% 8% Lynch 29 Nob-Sparks Indus Inc 12% Prima . . 3 Swift &Cos 19% 19% 19% Swift Internat 39 38% 39 Zenith Radio 2%

Bond Prices

(By Fenner & Beanei ■" —Sept. 6 High. Low. Close. Alleg Corp 5s 'SO 26 Am <Sr For Pwr 5s 2030. 51 50% 51 A T & T db 5s ’65 108% Atch gen 4s '95 101 1 /* 101% 101% Beth Steel 5s A '42 102% Can Pac 4s '57 76 . 75% 75% C & O 4%s A '57 110 CMStP&P adj 5sA 2000 9% CMStP&P rs 5s A '75 .. 29% 2914 29% Erie R R rs 5s 67 .... 67% 67 67 Goodvear 5s '57 100% 100V4 100% Gt Nor 4%s D '76 .... 88% Gt Nor 7s A '36 ... 75 74% 75 Interboro R T 5s '66 .. . 58% Lorillard 7s '44 82% 82% 82% McKess & Robb 5%s 'SO 98% 98% 98% N Y Cen 5s O 2013 85% Nor Am 5s '6l 105% 104% 105% Para Pub 5%s 'SO . 95% 95% 95% Penn R R 4%s D 'Bl . 124% Shell Un Oil 5s '52 ...104% 104 104 Sin Cons 6%s B '3B ..103 102% 103 Texas Corp 5s '44 ... 106® U S Rubber 5s A '47 .. 87 86% 86% Vanadium 5s '4l ... 85% Western Un 5s 'sl ... 84 Ygstwn S & T 5s B '7O 84% U. S. GOVERNMENT BONDS ißy United Press) NEW YORK. Sept. 5 —Closing Liberties (decimals represent thirty-seconds): —Liberty—--3%s (32-47) . 102 24 First 4%s (32-47) 102.27 Fourth 4%s (33-38) 103.13 —Treasury—--4%5, 3%s (45) 101.11 4%s (47-52' 11030 3%s (43-47) 102.14 3%s (41-43), March 102.14 3%s (40-431, June 102.26 3'.s (43) 102.16 3%S (46-49) 100.12 3s (51-55) 99.14 FEDERAL FARM LOAN BONDS (By Blyth & Cos., Inc.) —Sept. 6 Bid. Ask. 4s. July 1. 1944-46 96% 97% 4s. Nov. 1, 1957-37 96 96% 4s Mav 1, 1958-38 .'. 96 96% 4%5. July 1. 1956-36 97 97% 4%5. Jan. 1, 1957-37 97 97% 4%5. Mav 1. 1957-37 97 97% 4% s. Nov. 1. 1958-38 98 98% 4%5, May 1. 1942-32 98 98% 4%5, Jan. 1. 1943-33 98 98% 4%5. Jan. 1. 1953-33 97 97% 4%5. July 1. 1953-33 9.7 97% 4%5. Jan. 1. 1955-35 97% 98 4%5. Jan. 1. 1956-36 97% 98% ss, May 1. 1941-31 100 100% ss, Nov. 1. 1941-31 100 100% —Home Loan—3s. Mav 1. 1964-44 97.00 97.07 4s, July 1. 1951 97.00 97.08 —Federal Farm Mortgage Corporation—3'. S. March 15. 1964-44 . . 98.22 98.30 The three latter quotations are in thir-ty-seconds. On Commission Row —Sept. 6 Quotations below are average retail prices being offered to buyers bv local commission house dealers. Peaches—Michigan. Elbertas. bushel. $2 25. Plums—Michigan, large blue bushel $2.25; Damsons, bushel, $2; Italian. % bushel . $1.50. Pears—Michigan Bartletts. bushel. $2.25: Clapps favorite. $2. Lemons —Sunkist. $5.50. Grapes—California seedless, crate. $1.25 Grapefruit—California seedless. *4.25. Watermelons—2sc. Bananas—Pound. sc. —Vegetables— Endle—Ohio. 2 doz.. basket. 85c. Sweet Corn—Home grown, doz.. 20c. Cabbage—Northern. 50-lb. bag. 85c. Celery—Michigan medium, dozen. 45c: lumbo, 65c: doz.. 45c. Cranberries—2s-lb box. $3.50. Onions Washington sweet Spanish large, 50-lb. bag $1.65: Michigan vellow. $1.40: western whites. $2. Pickling Onions—lo-lb bag 75c. Potatoes—Eastern Cobblers. 100-lb. bag. $1.75; Wisconsin round white. 100-lb bag. *1.65: Idaho russets. s2® 2,50; Kentucky Cobblers, bushel. *1.50® 1.75. Sweet Potatoes —Eastern Yellow Jerseys, bushel. $1.65 Beans—Round strlngless, bushel. $1.25; home-grown Kcntuckv Wonders. sl. Beets—New. 30c doz. Carrots—Ohio. doz.. 35c. Cauliflower—lOs-lls crate. $1.50®1.75. Lettuce—Outdoor. 15-lb. basket. 85c: Iceberg Californie. crate. *4.50. Cucumbers—Home grown, bu.. *l. Egg Plant—Home grown, doz. sl. Peas—Hamper. *2.25. Peppers—Home grown, bu.. $1.25. Radishes—Basket of 2 doz.. 85c. Spinach—Home grown. New Zealand, bu. 65c; Broadleaf. bu.. $1.25. Tomatoes —Outdoor basket. 50c: bu.. $1.50 FRUITS AND VEGETABLES ißv United Press) CHICAGO. Sept. 6 Apples—Michigan. Wealthies. bushels. 2%-inch, $1.25® 1.50. Tomatoes—Michigan. 12-qt. basket. 30® 75c. Sweet potatoes—Tennessee bushels, $1.15 ® 1.30. few $1.40. Peaches—Michigan bushels $1.50® 2. Lettuce —California crates. $3 50® 4 50; leaf Ohio baskets. 50c Beans —New Jersey green, bushels SI 45® 150 Cabbage—Wisconsin crates. 75c® sl. Corn —lllinois sacks. 40®65c. Carrots—lllinois bunches. 2%®3e. Pepners—lllinois bushels. 75c® SI. Eggnlant—lllinois bu*hels 50c. Celery—Michigan crates. 40® 75c. Cauli-flower-Western crates. $1.25® 1.50. Onion market (50-Ib sacks'—Washington yellows. SI 10: Michigan yellows. 75® 85c: Idaho whites. SI 15® 1.20 BUSINESS ACTIVITY DIPS Slight Decrease Attributed to Drop ' in Production of Goods. Ka 7 imrs Special WINCHESTER. Sept. 6.—General business activity during the previous week was 33 per cent below normal, as compared with 29 per cent below normal a year ago, according to Winchester’s index. The slight decrease, the index believes. has resulted from a decline in the production of various kinds of goods. Retail trade, however, is continuing to show improvement. Summer Slump Continues By Time* Special CHICAGO. Sept. 6.—The summer slump in sales and collections continued during August with 11 per cent good, 25 per cent slow and 64 per cent fair, according to a report of the National Association of Credit Men, released today.

SWINE VALUES DROP 25 CENTS; CATTLE STEADY

Lamb Market Strong to Slightly Higher; Veals Stationary. A decline of 25 cents under yesterday’s average marked initial trading in hogs at the Union Stockyards this morning. All classes were affected by the sharp drop despite a light run of receipts on hand. Trading developed slow and early demand at the yards was lacking. The bulk. 160 to 200 pounds, sold ' at $7.15 to $7.25. while 200 to 250 pounds, brought $7.25 to $7.30. Few choice grades were reported selling at $7.35. Extremely heavy kinds, weighing 250 to 325 pounds, cashed in at $7 to $7.20. Light classes, weighing 140 to 160 pounds, sold at $6.25 to $6.50; 120 to 140 pounds, held at $5.50 to $6, and 100 to 120 pounds, brought $4.75 to $5.25. Packing sows sold at $5.75 to $6.50. Receipts were estimated at 4,000; holdovers, 1,386. With early supplies consisting mostly of stocker and feeder grades, trading in the cattle market was generally less active and steady with the previous close. Slaughter steers, ! mostly unchanged, sold at $4.50 to ! $7.25. Odd head of steers and choice heifers old at SB. Other classes were weak to slightly lower. Cows brought $2.75 to $4. Low cutters and cutters were salable at $1.50 to $2.75. Receipts numbered 1.500. Vealers remained stationary, selling at $7.50 down. Receipts were 600. Slight strength was evident in lamb trading, with practically all classes strong to slightly higher than yesterday’s average. Ewe and wether lambs sold at $6.5 to $7. Top held at $7.25. Bucks were discounted sl, while throwouts ranged from $4 to $5.50. Slaughter sheep brought $1.50 to $2.60. Receipts were 900. Asking was strong on hogs at Chicago, with few early bids around 5 to 10 cents lower than yesterday at $7.50 down. Receipts were estimated at 17,000, including 8,000 directs; holdovers, 3.000. Cattle receipts numbered 8,000, including 1.000 government; veals, 2.500, including 500 government; market steady. Sheep receipts were 12.000; market unchanged. Aue. Bulk. Tod. Receipts. 30. s7.6s Tit 7.75 $7.90 5.000 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 5. 7.40® 7.50 7.60 4,000 6. 7.15® 7.25 7.35 4,000 Market, Lower (140-160) Good and choice $ 6 25@ 7.15 —Light Weights—--1160-180) Good and choice . 7.15® 7.25 (180-200) Good and choice 7.20® 7.30 —Medium Weights—-(2oo-2201 Good and choice • ■ 7.25® 7.35 (220-250) Good and choice .. 7.25® 7.35 —Heavy Weights—-(2so-290) Good and choice ■ 7.10® 7.25 1290-350) Good and choice .. 6.90® 7.10 —Packing Sows—-(27s-3501 Good 6.25® 6.50 (350-425) Good 6.10® 6.40 (425-550) Good 6.00® 6.2 p (275-5501 Medium 5.75® 6.15 —Slaughter Pigs—-(loo-130) Good and choice 4.75® 5.75 CATTLE Receipts, 1,500; Market, Steady —Steers—-(sso-900) Choice $ 7 00® 8.50 Good 6.00® 7.75 Medium 4.50® 6.50 Common 3.00® 4.50 (900-1.100) Choice 8.50® 9.75 Good 6.75® 8.75 Medium 5.00® 7.00 Common 3.75® 5 00 (1 100-1,300) Choice 9.00® 10 40 Good 7.36® 9 25 Medium 5.50® 7 50 (1.300-1,500) Choice 9.50®10.50 Good B.oo® 9 75 —Heifers—-(sso-7501 Choice $ 7.00® (.75 Good 5 75 S Z Common and medium 3.00® 5.75 (750-900) Good and choice ... 5.75® 775 Common and medium 3.00® 5 75 —Cows— Good 3.75® a 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, 600; Market, Steady Good and choice $ 6.50® 7 50 Medium 4.50® 6.50 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 — iSteerst (500-800) Good and choice . 4.50® b.oO Common and medium .... 3.oo'fi 450 (800-1.050) Good and choice.. 4.50® 6.50 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® S 25 Common and medium 2.25® 3 00 SHEEP AND LAMBS Receipts, 900; Market. Higher Lambers. 90 lbs. down, good and choice ... $ 6.75® 7.25 Common and medium ... 4.50® 6.75 —Ewes—-(9o-120) Good ana choice 2.00® 275 (120-150) Good and choice 1.75® 2 50 All weights, common and medium 1.25® 2.00 Other Livestock ißv United Pressi CHICAGO, Sept. 6. Hogs Receipts. 17.000. including 8.000 direct*; market, slow, steady to 10c lower than Wednesday; 200-250 lbs.. $7.50® 7.60; top. $7 60: 260-350 lbs.. 57.25® 7.50; 140-190 lbs.. S6 50® 7.50; good pigs. ss® 6; packing sows. $6.60® 6 90; light lights. 140-160 lbs., good and choice. $6.25® <.15; light height. 160-200 lbs., good and choice. $7®7.60; medium weigts. 200250 lbs., good and choice. $7.45® 7.60: heavy weights. 250-350 lbs . good and choice. $7.25® 7.55; packing sows. 275-550 lbs., medium and choice. $5.75®7: slaughter pigs. 100-130 lbs., good and choice. $4.75® 6.25. Cattle—Receipts. 7.000 com- ! mercial. 1.000 government; calves, receipts. 2.000 commercial. 500 government; better grade fed steers and yearlings, strong to 25c. mostly 10® 15c higher; lower grades about steady with recent sharp decline; better action in general market; top. $10.50 on 1.421-ib. averages; yearlings, scaling 1.042 lbs.. $10; several loads fed yearling heifers. $7 50® 8.25; cows slow, steady: bulls, 15®25c higher; vealers 50c ! higher: few selected vealers up to $9; ! sausage bulls to $3.85: slaughter cattle and i vealers: steers 530-900 lbs . good and I choice. $6.25®9.25: 900-1.100 lbs., good and choice. 56.50® 10.75: 1.100-1.300 lbs., good : and choice. S7® 10.50: 1.300-1.500 lbs., good i and choice. $7.75® 10.60; 550-1.300 lbs., 1 common and medium. 53.25® 7.50: heifers. 550-750 lbs., good anti choice. s6® 8.25: common and medium. $3.50® 6; cows. good. I $3.75® 6: common and medium. $2.56® 4: low cutter and cutter. $1.75®2.75: bulls, vearlings excluded, good. beef. $3 25® 4; cutter, common and medium, *2 50 ® 3.75: vealers. good and choke 57®8.75; medium. ss® 7: cull and common. s4® 5; stocker and feeder cattle: steers, 550-1.050 lbs^ good and choice. $4.5f®5.50: common and. medium. 53®4.50. Sheep—Receipts. 12.000; fat lambs in fairly active demand indications fullv steady, asking stronger: best native and westerns held $7 upward: early bids under $6 75: sheep about_ steady; feeding iambs firm; early bulk. $5.75 downward: best held $6 and above; slaughter sheep and lambs: lambs. 90 lhs. down, good and choice. $6 40®7: common and medium. $5.25® 6 50. ewe. 90-150 lbs., good and choice. $1.75w2.85. all weights, common and medium. $1.50®2.25 feeding lambs. 50-75 lbs., good and choice. $5 35 ® 6. FT WAYNE. Sept 6—Hogs—3sc lower: 250-300 lbs. $7.15, 200-250 lbs.. $7; 180200 lbs.. $6.90: 160-180 lb*.. $6 80: 300-350 lbs $6 90: 150-160 lbs $6 25 140-150 lbs . $6 130-140 lbs.. $5.75: 120-130 lbs . ss^o: 100-120 lbs $4 85: roug*. $5 75: stags 3 50. Calves—s 7 50. Lambs—sß 50 LAFAYETTE. Sept. 6—Market 15® 25c lower 200-250 lbs.. $7.20® 7.25 : 250-300 lbs . *7® 7.10; 170-200 lbs s7® 7 10. 150-170 lb*.. $6 2#®.90 130-150 lbs. $5.75H 120-130 lbs. $5 25® 5.50: 100-120 lb*.. $4 50 ® 5 roughs. $6 25 down; top calve*. $6.30; iambs. $6 down.’

Drought Will Aid Fall Business, Bank Believes

National City Expresses Its Views After Study of Prices. B</ Times Sprriol NEW YORK, Sept. 6.—lndustry and trade has nothing to fear in the immediate future from the effects of the worst drought on record in this country, but rather it will react as a stimulant to fall business in many sections, the Natioral City bank declares in its monthly survey of economic conditions. Total farm income will have been increased by higher prices of farm products, benefit payments by the government will tend to sustain purchasing power in the affected areas, and the regions not affected seriously by the drought will have a prosperous year, the survey indicates. Not Considered Serious On the other hand, much of what the farmer gains will be transferred to the expense account of the industrial worker through higher prices, while the increased cost of manufacture may to some extent be reflected in lower pay rolls, the survey suggests. This offset is not considered a serious enough factor to depress fall trade. The cash income of farms for the year, including $500,000,000 in benefit payments, is estimated at $5.950,000,000. an increase over last year of $900,000,000, or nearly 20 per cent. About 10 to 15 per cent of this increase, it is estimated, will be absorbed by higher*prices. During the second half of the year, it is estimated, the cash income of farms will total $3,374,000,000, compared with $2,995,000,000 an increase of $379,000,000. But the survey prints out that only in about one-third of the farming area, that worst affected by the drought, will income be less. East Important “The agricultural importance of the eastern industrial states is frequently not realized,” the survey points out. “It may be news to some that farmers in the north Atlantic and New England states alone received as much for their milk, eggs and chickens in 1933 as all the wheat growers in the country received for their wheat. In the same year the dairy cattlemen of New York state received move for their milk than the hog raisers of lowa for their hogs. “Throughout the depression fruits and vegetables have put more cash in the farmers’ pockets than all the grains combined, or all cotton and cottonseed combined, and the fruit and vegetable crops this year are generally good except in the heart of the drought country. Made Up Elsewhere “An indefinite number of citations could be given on this theme, but the purpose is only to point out its trade implications. The deficit in the income of the worst drought states, compared with last year, will be more than made up elsewhere, and the drought states themselves may not fall behind when relief disbursements are added. “No collapse of fall trade is threatened, and there is no evidence that the larger manufacturing corporations and retail organizations expect a further setback. If fall trade is disappointing it is less likely to be due to drought than the obstacles still in the way of reMarriage Licenses Theodore Saunders, 22, Chicago, musician. and Ella Washington. 19. 408 Blackford street, dancer. Lile Markle. 25. of 419 East North street, and Dorothy Thomas. 18. of 419 East North street, housekeeper. Robert Walden Jr., 24, of 727 North Audubon place, manager, and Julia Shugert, 23. of 1138 North Seville avenue, salesladv. Franklin Williams. 21. of 2940 Highland place, porter, and Louise Stringer. 19. of 2940 Highland place, operator. William Higgins. 27. of 4260 Toledo street, porter, and Mary Richardson. 22. of 850 Camp street, maid. Thornton Chandler. 21. of 2019 Caroline avenue, laborer, and Florence Parmerlee. 20. of 803 Elm' street, housekeeper. Ravmond Duffin. 24. of 402 Berwick avenue, salesman, and Emogene Potter. 18. of 928 East Eleventh street, saleslady. Wilbur Keeler. 28. of 1226 Tecumseh street, bookkeeper, and Thelma Monahan. 26. of 406 North Wallace street, stenographer. Lynn Jervis, 30. Chicago, salesman, and Catherine Lightle. 27. of 1728 Lafayette road, cashier. Eugene Ezell. 36, Washington hotel, examiner. and Katherine Krause. 24. R. R. 17. Box 44. secretary. Elmer Hostetler. 32. of 2528 Central avenue. concessionaire, and Ruth Kearney. 19. of 2536 North Capital avenue, housekeeper. Reesie Hatton. 34. Alexandria, mechanic, and Clara Knapp. 24 of Oaklandon. housekeeper. Roscoe Nearon. 32. Anderson, presser. and Juanita Hiatt. 24. Linden hotel, cashier. Ravmond Haves. 21. of 346 East McCarty street, laborer, and Pauline Davis, 19 of 1910 Charles street, housekeeper. Llovd Webb. 30. 826 East Forty-ninth street printer, and Louise DeMart. 29. of 2042 North Alabama street, beauty operciarence Lohman. 24. ol 615 Warren avenue. salesman, and Mary Ballard. 18. of 235 North Elder street, housekeeper. Luke Beers. 21. of 116% Virginia ave ; nue. grinder, and Luke Mcßeers. 17. of 384< Oliver avenue. hous°keeper. Leonard Weaver. 37. of 738 North West street, cook, and Annie Baker. 32, of (38 North West street, housekeeper. Other Livestock (By Times Speciali LOUISVILLE. Sept. 6.—Cattle—Receipts. 350: supply moderate to light; quality only fair- demand improved for most slaughter classes, and market fully steady: bulk, common to medium steers and heifers. 33 <i; 4.50; better finished offerings quotable from ss® 6. or better; bulk beef cows. $2.50® 3; good kinds to $3.25 and above for smooth heifer tvpes: bulk low cutters and cutters. sl® 2 25; sausage bulls, mostly 52.50® 3: most desirable Hereford Stockers. $4.50® 5.50 Calves—Receipts. 900. including around 600 stock calves; vealers. steady: bulk better grades. 56®6.50: strictly choice handyweights. $7: medium and lower grade vealers. $5.50 down: heavy grass calves, $4 50 down. Hogs—Receipts. 800; market. 25c lower; top and bulk. 185275 lbs.. $7 15; 280 lbs. up. $6 70; 160-180 lbs.. $6 45: 140-155 lbs . $5.95: 120-135 lbs *4 45: sows. $4.95: grassy and unfinished hogs subject to a discount. Sheep—Receipts. 500: generally steady: bulk, medium to good lambs s6® 6 25: choice to $6 50 or better- throwouts mostly $3 50 down: fat ewe*. sl4/2: choice lightweights quotable higher: bulk better stock ewes salable, s6® 7.50 a head. ft - ENTER SEPTEMBER 10| Day or Night Sprciallirii bnine training U direct, positive, effective. ll i* generally recoxnired a* one ( of the ure*t safest ami mo*i economical nay* to a promi*ing start with a good hnine* firm. Many who entered here a year ago are holding desirable positions today. Attend this strong, dependable school and enjoy the i advantage* of its prestige and following among business firms. “Central’’ is the Indiana Business College j ot Indianapolis. The others are at Marion. Mancie. Loiansport. Anderson. Kokomo. Lafavette Columbus, ftirhmond and Vineenne*—Ora E. Bull. President For Bulletin tiring full particular*, get in tourh with the 1. B C nearest con. or Fred W Ca*e. Principal . Central Business College Architects * Builder* Bldg.. Pennsylvania A Vermont Sts.. Indianapolis. I 1 ""' 1

vival of the capitol Roods industries, to labor troubles and uneconomlcally high costs and prices for finished goods and to the fiscal and other uncertainties connected with governmental policies.” Produce Markets Delivered in Indianapolis prices: Henry hens. 12c; Leghorn hens. 8c 1934 broilers 2 lbs. and over. 13c; Leghorn broilers 1% to 2 lbs and over. 11c: bsreback broilers. 10c; old roosters, sc; ducks and geese. 3c; voting guineas. 20c; old guineas, 15c: No 1 strictTv fresh country run cgß.v 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. 304?31c. Buttfat 23c Quoted by Wadley Company ißv United Press) CHICAGO. Sept 6 —Eggs— Market, firm; receipts. 3 621 cases; extra firsts. 22%c; fresh graded firsts. 21 %c: current receipts. 174; 20c; dirties. No. 1. I7c; No 2. 14c; checks No. 1. 16c: No 2. 14c. Butter Market steady: receipls. 10.297 tubs; extra firsts i9O-91% score). 24%®25c; extras <92 score). 25%®25-%c: firsts )8889% score). 23%®24',c: seconds (86-87% score(. 224/23c: specials. 264/ 26%c: standards. 25', c. Poultry—Market, firm: receipts. 1 car. 27 truclcs. 1 car due; fryers. 15%®17%c: broilers. Leghorn. 154/16c; geese, old. 12c; turkeys 10® 12c; old roosters. 11c; hens. 14®17%c: Leghorn hens 10%c: black chicks. 10®12c; barebacks, 13c: cocks. 8c; old ducks. 124/18c: spring dugjcs. 124/16c; rocks, spring. 19®20c: Leghorns. 12c. Cheese—Twins. 134i13%c; Daisies. 13%®14c: Longhorns. 13%4i14c. Potatoes—Supply moderate: demand and trading moderate; market, steady on Triumphs. weak on other stock; Idaho Russets. $1.75® 1.90. showing decay. $1.50. combination grade. $1 37%®1 45; Wisconsin Cobblers. $1.30® 140; Pennsylvania Cobblers. $1.40; Early Ohios, $1.40. NEW YORK. Sept. 6 —Potatoes—Steadv; Long Island. 40c® $l5O bag: New Jersey, 40c® SI bag. Sweet Potatoes—Steady; Jersey, basket. 40c® $1.75; southern, barrel. $2.35®3.50; southern, basket. 60c® $1.65. Dressed Poultry—Firm: turkeys. 17® 32c: chickens. 10%®28c: broiler*. 16 ®2Bc; capons. 25® 26c; fowls. 10® 21c; Long Island ducks. 14®17c. Live Poultry—Firm: Reese. 8®10c; turkeys. 174/23c roosters. ll@12c; ducks. 124/19c: fowls. 12® 22c: broilers. 14® 23c. Cheese —Eary; state whole milk, fancy to specials. 19® 20c: Young America. 14%®14%c. Eggs Receipts. 16.089 cases; market, firm; special packs including unusual hennery selections. 24%4j 28c: standards. 23%®24c: firsts, 22c; seconds. 20®21c: mediums. 20® 21c: dirties, 19%®20c: checks. 16%®17c. Butter—Receipts. 15.131 packages; market, firmer: creamery higher than extras, 26%®27c; extra (92 score'. 26c; first (9091 score), 25® 25%c: first (88-89 score). 244/ 24' ir: seconds, 23®23',c: centralized (90 score). 25c; centralized 'BB-89 score'. 23%®24%c: centralized (84-87 score), 23 ft23%c. Births Girls Joseph and Lillian Wilson. 26 South 80lLewis and Margaret Cole. 2413 North Rural. Carl and Minnie Butler. 120 Concordia. Virgil and Genevieve Cash. 917 Coffey. Lester and Laura Minton. 2212 Thornberrv, Andrew and Ode Peterson. 1605 Cornell. George and Robert Harrison. 438% North West. . ~ Ralph and Marie Martin. Methodist hospital. Glen and Mary Derringer. Methodist hospital. Flovd and Pearl Shockley. Methodist hospital. Oral and Clara Parker. Methodist hosptial. , Faun and Helen Pherigo. Methodist hospital. V Ernest and Doratha Hartman. 1535 East Fifty-second Harry and Mabel Fraims. 537 Patterson. Audrey and Emmett Miller. St. FYancis hosnital. Ellen and William Durbin. St. Francis hospital. Mildred and Edgar Miller. St. Francis hospital. Boy* Adolph and Pctronella Neuhausel. 2005 East Maryland. Walter and Hazel Hawkins, 1170 KenMcClellon and Ruth Cox. 357 West Fifteenth. Virgil and Leona David. 809 Harrison. Eli and Minnie Ballard, 1146 Deloss. Howard and Edith Desper, 4409 North Caroline. Grover and Doris Bracken. 2202 Sherman drive. Charley and Addie Middleton. 1037 South Sheffield. Ben and Lucille Perry. 2253 Sheldon. Frank and Mary Ball. 1612 East Twentysecond. Claude and Margaret Greer. 517 Marlon Eugene and Hattie Starks, 2442 Rural. William and Nelta Rosser, 300 North Gale. . Rav and Leatha Morgan. 2413 North .Illinois. , Odte and Marcell Clark. 1736 West Minnesota. Alvin and Charlotte Pierson. 331 Douglas. Lazo and Sophia Stoicheff. Coleman hospital. . , Herschel and Vera Shephard. Methodist hospital. .. „ . William and Doris Ross. Methodist hospital. . , Paul and Linnes Boone. Methodist hospital. William and Goldia Powell. 1015 North William and Margaret McKay. 1342 East Kelly. _ Loretta and Saben Mitchel. St. Francis hospital. „ Louise and Harry Wincel. St. Francis hospital. _ Helen and Herbert Kattau. St. Francis hospital. Olive and Jesse Stenger. St. Francis hosPI Ann and John Codalata. St. Ffancis hospital. Deaths Willis C. Hope, 37, cltv hospital, broncho pneumonia. John G. MacKav. 94, of 3437 College, chronic myocarditis. Emma L Hamp. 39. Central Indiana hospital, chronic myocarditis Joseph K Faulkconer. 60. of 1940 Broadwav. lobar pneumonia. Eva Mary Cross. 14 days, of 1312 Lexington. atelectasis. Mary K Martz. 20. Coleman hospital, post-operative shock Sidney S. Smith, 72 of 3650 Woodlawn. coronary embolism. Andrew Kelly. 76 of 621 Dorman, myocarditis. George K Sherman. 22 Methodist hospital. encephalitis. Lvdia A. Hill. 89. of 430 Buckingham drive, chronic mvocarditis. Elisha E. Boyle. 73, city hospital, broncho pneumonia. Nicholas Macome. 65. of 1026 North Pershing, acute interstitial nephritis. Laura Belle Kercheval. 68, Methodist hospital, infarct lung. Charles Alfred Marshall. 43. of 2455 East Washington, coronarv occlusion. Louisa Swanson. 68 city hospital, skull fracture. Marjorie Downs. 3. Riley hospital, malnutrition. Albert Coleman. 52. of 914 North Sheffield. pulmonary tuberculosis. Marv Margaret McCullough. 42. of 550 Drover, coronarv occlusion. John Mullen 54, St. Vincent's hospital, acute myocarditis. Lumber Employment Declines WASHINGTON. Sept. 6.—Employment in the lumbler industry declined 16,000 persons during June, the National Lumber Manufacturers’ Association has reported. Total employment in May was 413,722, which dropped to 397,185 the following month.

A \\© L XCEMEXT Abbott. Hoppin & Company announce a change of name as of October Ist, 1934. The new firm name will be Composed of: Abbott, Proctor A lvalue Gordon W. Abbott William F. Philips W'm. Ross Proctor, Jr. Louis C. Seavems Lewis A. Williams Burford L. Porter James F. Shaw Robert W. Atkins Hugh E. Paine Louis H. Colwell Maynard C. lvison John Sise —Spe-'ial Partner who will occupy the former office* of Abbott. Hoppin & foinpany, at 120 Broadway, and it* branch offfeea at Chicago, Montreal, Pittsburg. IndtanapoU* and Anderson, Indiana. Appleton, Wisconsin, under the same management. Ihe new firm will be member* of the New York Stock Exchange. New York Curb, New York Cotton Exchange New York Product Exchange. Chicago Board of Trade. Chicago Stock Exchange, Chicago Curb Exchange. Chicago Mercantile Exchange. Commodity Exchange. Joe.. New York Coffee and Sugar Exchange, Inc., and Montreal Curb Exchange. They will operate the wire system formerly maintained by Abbott. Hoppin fc Company with private wire* to Boston. Buffalo, Chicago Hartford, lndianapoliv. Pittsburg St. I,oni-. Anderson. Ind. and Appleton. Wisconsin, and In Canada Montreal Toronto. Quebec and other Canadian citiea. DATED SEPT. *. I*3*.

_SEPT. 6, 1984

WHEAT HI6HER ON STRENGTH IN FOREIGN TRADE

Commission Houses. Locals Stage Buying Drive: Market Active. BY HARMAN W. NICHOLS United Pre** Staff Corre.pondenl CHICAGO, Sept. 6. Marked firmness in Liverpool and Rotterdam wheat encouraged buying m wheat at the opening of the Chicago Board of Trade today. Wheat started % to % cent higher, corn was up % to % cent, oats were unchanged to % cent up. and rye was unchanged to up % cent. There was considerable activity at the start with commission houses and locals leading buying. A better demand developed in the English market with inquiries for Manitoba and Argentina parcels. Rotterdam closed as much as 1% cents higher. Chicago Futures Range —Sept. 6 Prev. Wheat— High. Low. 11:30 close. Sept 1.06% 1.05% 106 1.04% Dec 1 07% 1.08% 1 06% 106 May 1.08% 1.07% 1 07% 107% Corn— Dec 81 .80% .80% .80% Mav 83% .82% .82% .83% Oat*— Sept 54% .53 .53% .53 Dec 55% .53 7 a .54% .53% May 55* 2 .54% 54% .54% RveSrpt 85% .85% 85% 85% Dec 88% .87% 87% 88 May 92 .91 .91 .91% Barley— Sept - 8S UJ'-i Dec 82% .82 .82% .82 CHICAGO PRIMARY RECEIPTS —Sept. 5 Bushels. Todav. Last Week. Wheat 788.000 805.000 Corn 1.153.000 707.000 Oats 173.000 105.000 Cash Grain INDIANAPOLIS —Sept. 5 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, basis 17% cent* to river. Wheat—Strong: No. 1 red. 95®96c; No. 2 red. 94@95c; No. 2 hard. 96®97c. Corn—Strong; No. 2 white. 77%®78*;>c.: No. 3 white. 76%®77%c: No. 2 yellow 74%®75c; No. 3 yellow. 74®74%c: No. 2 mixed. 73%®74c: No. 3 mixed. 73®73%c. Oats—No. 2 white. 51@52c: No. 3 white. 50® 51c. Hav—Strong. (F. O B. country points taking 23% or less rates to Cincinnati or Louisville). No. 1 timothy. $14®,14.50. —lnspections Wheat—No. 2 red. 2 cars; No. 5 hard, i car; total. 3 cars. Corn—No. 3 white. 1 car; No. 1 yellow. 2 cars: No. 2 yellow. 5 cars: No 3 yellow, 1 car; No. 4 yellow. 2 cars; total. 11 cars. Oats—No. 2 white. 1 car; No. 3 white, i car; total. 2 cars. Local Wagon Wheat Citv grain elevators are paying 93 cents for No. 2 soft red wheat. Other grades on thetr merits (By United Press) CHICAGO. Sept. s.—Cash grain Wheat —No 2 red. $1.04%; No. 3 red. slo4®! 1 04%; No. 3 mixed. $1.08%. Corn—No. I vrllow. 81® l%c; No. 2 yellow. 81® 81 %c; Nn. 3 yellow. 80%®80%c: No. 4 yellow 79%®80c: No. 1 white. 83%®83%c: No 3 white 83c; No. 4 white. 82%c: samnlo grade' 71c. Oats—No. 3 white. 52 ',® s*o; No. 4 white. 54c; sample grade. 50® ale. Bariev—Sales. slos® 115: quotable. 80c®) $l2O, Timothv—sl6.so® 18. Clover seed $16.25® 20 75. Cash provisions Lard. $9.50; loose. $9.50: leaf. $10.50: bellies. $13.92. TOLEDO. Sept. s—Grain close' (In elevators. transit billingi Wheat- No 2 red, $1.06® 1.07. Corn—No 2 “ellow B.i®B6c. Oats—No. 2 white. 58%®59' c. Rve—No. 2 88® 89c. (Track prices. 24% c rate). Wheat—No. 1 red. $102®1.02%: No. 2 red. sl.ol® 1.01 %. Corn—No. 2 yellow. 81 H 81 %c: No. 4 vcllow. 79®79';;C. Oats—No. 1 white. 55%®57%c: No 2 white. 55® 56', 2 c: No. 3 white. 53%®55%c. ST. LOUIS Sent. s.—Cash grain: Wheat —1 %c to 2c higher; No. 2 red. sl.o3Van 1.05% at close; No 3 red. $1.03%: No. 3 hard. $1.13% nominal. Corn—ln fair demand. % to I%c higher: No. 1 vellow. 82c: No. 2 vellow. 81®81%c: No. 1 white. 85%c; No. 3 white. 84%.r. Oats—ln good demand. lc higher: No. 1 white. 60c: No. 3. mixed. 55c. TOBACCO COMPANIES FIGHT TAX INCREASE Administration Considering Raising Levy to 6.1 Cents. ll]/ I nitcit l‘rr*s WASHINGTON, Sept. 6. —Tobacco manufacturers appeared before AAA officials late yesterday to fight a proposed increase in the processing tax on burley tobacco used in plug chewing tobacco and twist. The administration is considering the possibility of raising the levy from 2 cents a pound fixed in October, 1933, to 6-1 cents. The manufacturers contended that an increased tax would decrease consumption of chewing tobacco products made in whole or in part from burley. Since the tax was imposed last year the difference between the current average farm price of burley and the fair exchange value of the product has increased so that it would not be possible to levy a maximum processing tax of 6.1 cents. Business Failures Reported /};/ Times Special CHICAGO, Sept. .6. Business failures in the United States during August amounted to 929, against 912 in July and 1,472 In the corresponding month of last year, according to Dun & Bradstreet.