Indianapolis Times, Volume 46, Number 102, Indianapolis, Marion County, 7 September 1934 — Page 26

PAGE 26

Wall Street New Commission Ready to Take Over Control of Exchanges Oct. 1. BY RALm HENDERSHOT Tiafi S(l>l Financial Writer JOSEPH P KENNEDY told Prudent Roosevelt this week that the Securities and Exchans* Commission, of which he is chairman, will be ready to take over control of the security exchanges throughout the country on Oct. 1. The fact of the matter is that Mr. Kennedy really has been acting as overseer of the ex-

changes for the last month or more. His activities will merely become official on the first -* next month. The New York Stock Exchange, by far the most important exchange m the: group has been! consulting Mr ! Kennedy's l

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commission at : every turn of late. The same may* be .aid of the New York Curb Exchange. Traders, too. are con- ; ducting themselves in conformity with the new rules and regulations contained in the Exchange Regulation Act. In other words, there is likely to be very little change in the markets after official regulation becomes fully effective. There have been no eidences of market rigging” throughout the entire summer. Bear raiding hasj been conspicuous by its absence. The i same goes for the other irregularities against which the new regulations' were directed. Speculative holdings are well margined, and m virtually i every’ other respect the markets have made full preparations for the inauguration of the czar. a a a WHETHER the boys were I "good ’ because of the new j regulations or because they had lit- i tie opportunity to be otherwise must remain an open question. One cannot "rig” a market very well when there is almost a complete lack of public interest, and one is unlikely to conduct bear raids when prices are scraping bottom and when natural forces have eliminated virtually all weak holdings. But the officials of the "big j board” have every reason for wish- ; mg to co-operate with Mr. Ken- * nedy, and they have ways and means of keeping the boys in line ; when thev are really put to it. Mr. I Kennedy is a Wall street man. and he has made it very plain that he does not wish to destrov the market. His appointment has not been con- - firmed, but the street would verymuch like to see him keep the job. * * * 'll fALL STREET was not es- | W pecially interested in the j dispatches from Washington stating that Marnner S. Eccles is like- j lv to be the next governor of the | federal reserve board, succeeding Eugene R Black, who resigned recently. It has been assumed all along that President Roosevelt would select someone for the post who is in accord with his financial policies, so the personality involved is not very important so far as the street is concerned. What in ail probability would occasion much more of a stir in the i financial community would be a ] shakeup in the New York Federal j Reserve bank's official personnel, j Some of these are known to be out; of sympathy with the administration's monetary policies, but, from all accounts, they are ro-operating j as best they can under the circum- ] stances. N. Y. Coffee, Sugar Futures —Sept. (! . COFFEE —Santo, — High. Low Close March 11 OS 11.(Ml 11.05 j \|,v 11 OR to 99 it os September 110* 11 01 1} OS December 11 03 10 98 11.03 —Rio — January *°* *25 * !?* mlv ............... RlO *lO 1 * 2~ R 23 R 37 Sep-ember 775 225 225 December 1.9* i 95 >.96 Bl GAR High. Low Close_ January 1 fi* 187 l.R> March 102 10° 100 Mav IPS 103 194 Juiv 1 09 1 97 1 97 Sep-ember 1 ** J *2 JR* December 1 33 1 90 1.32 In the Cotton Markets .—Sfpf K—CHICAGO High low Close January 13 R 13 43 13 43 March USO 13 l3 52 Mav 13 64 1? SR 13 61 JiilV 13 72 13 72 13 72 October 13 37 13 29 13 29 December .... ... 13 SO 13 40 13.42 % NEW YORK January 13 43 13 36 13 37 March 13 51 13 41 13 *3 Mav 13.5" 13 47 13 51 JUlv 13 64 13 SS 13 57 October 13 2* 13 II 13 20 December 13 39 13 30 13 32 NEW ORLEANS January 13 42 13.41 13 41 March 13 49 13 3R 13 41 Mat 13 52 13 47 13 4R Juiv 13 5* 13 53 IS 55 CV-fOber 13 29 13 21 13 22 December 13 40 13 30 13 32 Retail Coal Prices Tha louowing pncea represent quotations from leading Indi*napolis eoa! dealers A 2.5-cent earning charge per ton will be added. DOMESTIC RETAIL PRICES Anthracite 113 M> Brazil Lump 6.90 Brazil Egg . 690 Brazil M-n# Rub 6 25 Cose. Nut 9lte t 50 r**e. Egg S:*e . I 60 Indiana Forked Lump No. 4 and 6 575 Indiana Egs 5.71 KentuCk* Lump. Group "B” 1 11 Pocahontas Lump * 25 Poeahontaa Ec* 1.35 Pocahor.-a* Mine Run 0 New River Smokies* 93 COOL WEATHER CHECKS STATE CROP GROWTHS Light Frost Reported in Northern Section During Week. Cool temperatures and a light frost :n the northern section hampered growth of crops in Indiana during the last week, according to a report by the United States department of agriculture. Recent rams have been light to moderate in the southern half of the state, but rather heavy in some of the northern counties. The cool weather has retarded the ripening itif com and tomatoes m the northern and central division, it was stated. With the exception of soy beans, which have been reported favorably from all aecuons. the condition of small crops generally is fair to poor.

U. S. SMELTING DROPS 6 POINTS ON N. T. BOARD

Further Selling in Silver Group Forces Whole Market Lower. BY ELMER C. WALZER 1 nil** Frew Financial Editor NEW YORK. Sept. 7—Further selling came into United States smelting in the early afternoon trading on the Stock Exchange. It broke 6 points to 118%, bringing its loss for two days to more than 20 points. Other silvers broke with it and the whole market turned down without pickup in volume. Losses in the silver division outside of United States Smelting ranged to 2% points in Howe Sound. American Smelting dipped to 34%, off l'-a, and Cerro De Pasco 37, off Alaska Juneau made anew low for the year in the golds at 16%, off United States Industrial Alcohol was forced down more than 2 points to 37 following word from Baltimore that the United States district court had overruled a demurer in connection with the government's suit against the company for $8,140,514 alleged to be due under the revenue act of 1926. Other wet stocks were down with it. American Commercial Alcohol losing 2% points to 26% and Schenley 1 \ to 20. Money and Exchange INDIANAPOLIS STATEMENT - Sept. 6 Clearings $2,169 non 00 Debits 5 026.000 00 Treasury Statement >Bv United Press) WASHINGTON. Sent. 7. Government expense, and receipts of the current fiscal vear to Sept s compared with the corresponding period of the prevous fiscal vear: This Year. Last Year. Expenses . slOl9 024.777 71 $624 206 633 40 Receipts 57.5 549.030 26 392.4*4.861.91 Deficit 443 47.5 747 <5 231.721 771 49 Cash bal 2 146 824 930 79 .. Investment Trust Shares (By Abbott. Hoppin & Cos.) —Sept. 6 Bid. Ask American Bank St Corp 95 100 Atner A General Sec A 3.50 5.00 Amer <fc Inv Tr Sh 1 75 Basic. Industry Sh .... 3 R 2 British Type Inv Tr Sh .... 45 .50 Collat Trustee Sh A 426 4.36 Corporate Trust Sh told) ... 189 19R Corporate Tr Sh mew) 215 220 Cumulative Trust Sh 3 69 3.73 Diversified Trust Sh A 6.25 Diversified Trust Sh B 705 Diversified Trust Sh C 2.81 2 86 Diversified Trust Sh D 434 4 44 First Insur Stock Corp 4.50 457 First Com Stock Corp 52 .56 Fixed Trust Oil Sh A 7 50 ... Fixed Trust Oil Sh B 6 50 Fundamental Inv Inc 1.81 1 99 Incorporators Invest 16.50 16.75 Land Bank Bond Sh 1.13 1.26 Low Priced Trust Sh 508 5.18 Mass Inv Trust Sh 17 97 19 53 Nation Wide Securities 3 10 3 20 North Am Trust Sh <s3< .... 1.78 184 North Am Trust Sh (55-s*l .. 217 222 North Am Trust Sh isßl 2 20 2.25 Selected Amer Sh 2.33 Selected Amer Sh Inc 1.04 1.13 Selected Cumulative Sh 6 14 Selected Income Sh 321 Std Amer Trust Sh A 2.75 2 80 Trust Sh of America 265 2.70 Trustee Std Oil A 5 30 5 40 Trustee Std Oil B 4 73 4.83 IT S Elec Lt A- Pa r A 11.00 11.50 Universal Trust Sh 2.76 2.82 New York Bank Stocks ißy Abbott. Hoppin & Cos.) —Sept. 6 Bid Ask. Rankers 54% 55 Brook)vn Trust 83% 85 % Central Hano-er 116% 117 • 2 Chase National 23% 24 Chemical 38% 39_ National City 21% 21% Corn Exchange 45% 46', Continental 12 12', Empire 17% _ 18's First National 1.490 1.505 Guaranty 306 306 Irving 14% 15% Manhatten A- Cos 26 s , 27% Manufactures 19 3 19% New York Trust 94% 95 % Public 29 29%

Daily Price Index (By United Press) NEW YORK. Sept 6.—Dun * Bradstreet s dailv weighted price index of thirty basic commodities compiled for the United Press (1930-1932 average, 100) Todav 120 24 Yesterday 119.51 Week ago 120.50 Month ago 1’7.07 Year ago (Sept. 7) 99.81 1934 High 'Aug 29 120.95 1934 Low (Jan 3> 101 R 6 Copyright. 1934. Dun Ar Brandstreet, lac.T Marriage Licenses Robert Van Slvke. 23. of 2415 North Oinev street. decorator, and Mildred Schwab 18 of 72 East Twentv-second street, housekeeper. Richard Hill. 28. of 5241 Washingion boulevard, contractor. and Marthalou Schoenrr 24. of 2914 Guilford avenue housekeeper Harold Honderich. 24 of 119 Fast Fiftieth street, bank clerk, ar.d Alma Palmer. 20. of 3307 Washington boulevard, housekeeper. Harrs Hartman. 32 of 3110 Graceland s’enur, upholsterer, and Helen Olsen 26. of 5118 East Washington street, stenographer Martin Miller. 34. of 32'.- North Senate avenue, 'ruek driver, and Clara Magee. 24. of 36% North Senate avenue, housekeeper. Delmer Boston. 22. of 308 North Bernard stref butcher, and Ruth Kefauver. 18. of 714 West New York street, housekeeper. Rudolph Fcener. 28. of 226 West Eleventh s-reet. sales manager, and Helene Korbowicr. 23. of 1214 Bright street, clerk Glavne Johnson. 24. of 2423 Prospect street packer, and Marv Forbes. 25. of 1113 Seventh avenue, clerk. Harrv Otis. 22. of 1705 College avenue, mechanic, and Juanita Dvson. 22. of 835 Broadwav. weaver. Flovd Jacobs. 32. cl 556 ■ West Washington street laborer, and Edith Crab'ree. 18. of 556% West Washington street, housekeeper James Fields. 21. of 2431 North Oinev vieet. laborer, and Katherine Beinderman. 18. of 1512 Sheldon street, housekeerier. Henrv Woods. 24 of 1417 North Arsenal svenue. musician, and Blanche Barnard. 19. of 925 Charles street, housekeeper. BURROUGHS INCOME UP Adding Machine Cos. Doubles Earnings First Six Months. /* / 1 im> * .'•penal NEW YORK. Sept. 7.—Earnings of the Burroughs Adding Machine Company were more than doubled in the first half of 1934. the net profit for the period totaling sl.601.808 after taxes, charges and depreciation, reports showed. This compares with a net profit of $455.902 for the corresponding period last year. Cash Register Sales Increase B 'll met Special NEW YORK. Sept. 7.—Domestic sales of National Cash Register Company in August were $1,272.800, compared with $1,627,575 in August last year. For eight months to Aug. 31. domestic sales were sll.025.850. as against $8491.750 last year. Brokers Loans Increase By r ailed Pres* WASHINGTON. Sept. 7—Loans on stocks and bonds to brokers and dealers by reporting federal reserve members in New York City increased s3l 000 000 to a total of 58J4.000.000 m the week ended Sept. 5. the federal reserve board reported today.

New York Stocks 111 ■ ■ Hv sot>o-i rioppln <fc Cos ————————— AVERAGE STOCK PRICES FOR THURSDAY Net High. Low. Close, change. Thirty industrials 94.05 91.67 91.82 —1.83 Twenty rails 36.76 35.71 35.72 —.Bl Twenty utilities 30.73 20.26 20.33 —.20 Forty bonds .... 92.46 .09 Ten first rails .... -W.96 Ten second rails •••• 74.72 —.OB Ten utilities 98.40 —.22 Ten industrials .... 96.76 —.OB -i-Up. -Off. •Where quotations are not fiyen. there ha* been no trading in those Issue*.

—Sept. 7 . Prev. Oil*— High. Low. 10 00 close. Amerada ... 47 Atl Rfg 25 25 Barnsaall 6% Consol Oil . • • *' i Cor.t of Del .... 17% 17** l"’, 1R Mid Cont Pet 12'2 j Ohio Oil 10% ! Phillips Pet 16% 16‘. Plymouth Oil 9'* 9% Pure Oil 7% Rov’al Dutch ..... ... 35 35 Sbd Oil 26'2 Shell Cn 6'* S’, Skeiley Oil 7% • 80c Vac .. ... 14'a 14% S O of Cal 33 S O of tnd 26% S O of N J 44 ' ■ 44 t-t Sun Oil 9's Texas Corp ... 23% 23% Tidewater Assn ... 10 Steel*— Am Roll Mills . 17'* 17 17'* 17% Be-h Steel 28'* 28% Bvers AM 16% Cruc Steel 19% 19% Na’l Steel 40'2 Otis Steel . 4 '2 4 s * Rep Iron & Stl . !3' 13 1 ■ 13'* 13'., U S Pipe & Fdv . . 19' U S Steel 33'* 33 33 34' a Warren Bros .. .. ... ... 6% Youngstn S & T .. 16% Motors— Auburn . 22% 23 Chrysler 33'* 33% 33’* 32** j Gen Motors ... 28% 28 s Graham Hot 1% Hudson 8% Hupp 2% Nash 14 Packard 3% 3% Reo 2% Studebaker 3' Motor Accessories— Bendix 12 s * 12 3 ,* Borg Warner 21 21 Bohn Alum 51 51 >2 Briggs 16'* Eaton Mfg . 14',2 14% Elec Auto Lite .. 23’* 23 23 23% Houdaille -A” .. .. ... ... 4% Murray Body 5 Stew Warner 6% 6% Timken Roll 29'2 Mining— Alaska Jun 17'* 17’* Am Metals 15' 1$ Am Smelt 35% 36'* Anaconda ... II 7 * 12 Cer De Pasco ... 38'* 38% 38’* 37' 8 Dome Mines 43'2 43'2 Granby 7*4 Gt Nor Ore 11' 11',* Homestake Min . 405 400 400 . . Howe Sound 52 51 51% 51% Ins Copper 3 s * . . Int Nickel . 24% 24 s * 24’ 8 24% Isl Creek Coal 28 Krnnecott Cop ... . 18% 18% Mclntyre Mine . 45% 45% 45% 46 Noranda Cop ... 41% 41 41' 2 41' 2 Phelps Dodge 15'2 St Joe Lead 17"* 17% U S Smelters ..125% 123 123% 125% Vanadium 17% 18 Amusements— Crosley Radio ... 13% Fox Thra ... ... 11 % Loews Inc 28% 26% 26% 26%. Radio Corp 5% 5% RKO 2% Warner Bros 4% Am Sum Tob 19% Am Tobacco B 76 76% Gen Cigars 43% Ligg A? Myers B 98 Lonllard 18% Reynolds Tob B 46% Fails Atchison . 50% 50 50 49% Atl Coast Lines. . 29 B & O 15% 15% 15% 15% Can Pac 13% 13% C M A St P 3% 3% C M & St P pfd 6% 5% Chi N W 6% Dela At Hdu 40 Del Lac & W 17% Grt North pfd 15 111 Central 16% Lehigh Valley 12 Lou & Nash 42% M K & T 6% N Y Cent 21 % 21% 21% 21% N Y Chi & St L . 1R N Y New- Haven 10% 10 10 10% Nor Pac 17% 17% 17% 1* Penn R R . 23% 23% Sou Pac 17% 17% 17% 17% Sou R R . 1% 16% Union Pac . 96% 96% 96% 96% West Maryland ... 9% Equipments— Allis Chalmers 13 13'2 Am Brake Shoe . 23 '4 Am Car & Fdv. 15% 17L, Am Loco- ... 16% Am Loco pfd .. ... .• 14% Am Mach Ar Fdy 14% . Am Steel Fdy ... 14% Bald Loco R% Burroughs ... 12 Case J I 40 Cater Tract 27% Gen Am Tk Car 33% Gen Elec JR% Ingsol Rand 56 Int Bus Mach 137% Int Harvester 25% 26% Natl Cash Reg ■ J* Pullman Inc 41 41 _ B Rem Rand 8%, 8' Und Elliott „ 48% Westingh Elec 1 33 33 L'tilitirs— Am At For Pvr 6% 6% Am Pwr At Lit 5 5% A T At T 113 Am Wat Wtks ... .. ... 16% 16% Col Gas At Elec 9 9 Col G At E pfd 65 - B Com A- Sou 1% 1% Consol Gas . - .. ... 27% 27% Elec Pwr At Lit 4 E P At L pfd 8% Int Hydro Elec % Int T At T 9% Nat Pwr At Lit .■ 7% North Amer 13% 13% Pac G At E 15% 15% Postal Tel pfd. 15% Pub Serv N J ... 31% 31 31 31-% So Cal Edison 12% 12-’ B Std Gas 7% Stone At Webster 6% United Corp .... . 4 4 Un Gas Imp ... 14% 14% 14% 14% West Union 35% 35% Rubbers— Goodrich 10% Goodyear 21% 21% Kellv Spring 1% U S Rubber 16 16% U S Rubber pfd 37% Miscellaneous —- Am Bank oNte 14% Am Can ••• 98% Brklyn Man Tr. .. ... ... 42% Conti Can •• 81 Curtis Pub 18% 18% Curtis Pub pfd 84_ Eastman Kodak 99% Gillette 11% 11% Glidden 25 Inter Rapid Tr 13% Owen Bottle 67% Ravbestos Mfg 18% Food*— Am Sugar 69 Armour "A” ... 6% 6% Beatrice Cream 18% 18% Borden Prod 25% 26 Cal Packing . 41 42% Canada D G Ale 15% Cont Bak A .... ... 6% 7 Corn Prod 60% 602* Crm of Wheat ... ... 32% 32% Cuban Am Sugar 8% Gen Foods . . 30% 29% 29% 29% Gold Dust 18% 18% G W Sugar ••• ••• 30% Loose Wilts ... 40% Natl Biscuit .• 32% 33 Natl D Prod .. 17 16% 16% 17% S Por Rico Sug 31% Spencer Kell 25% Std Brands 19% Un Biscuit ••• 22% United Fruit 73% Ward Bak "A”.. .. ... 6% ... Retail Store*— - Asso Drv Dds .... * 10% Best A- Cos 32% First Nat gto 63% Gr Un Tea 5% Hahn Dept Sts 4% 4% Kresge SS 17% Kroger Groc 28 28% Marshall Fids 11 11% Mont Ward 23% 23% Natl Tea 11 Pennv J C 57% 57’ 2 Safeway St • - 46% Sears Roe 37% 37% 37% 37% Woolworth 47% 47 s * 47% 47% Aviation— Aviation Corp .... ... 4% 4% Curtiss Wright 2% Curtiss Wr -A” 8 Doug Air ... ... 17'4 Nor Am Av 3% Speery Corp ... ... 7% 7% United Aircr ... 15% 15 15% 15 Chemical*— sir Reduc 98% Am Com Alco .... ... ... 28% Allied Chem 128 Col Carbon . 65% 66 Com Solv 20% 20 20% 20% Dupont ... 88% 89 Freeport Tex 29% Liquid Carb ... ... 23 Math Alkali - 28 Montosonta Ch 52 51 \ 52 53 Natl Dis (new 1 20 19% 20 20 Schenelev Dist ... 21% 21% Tex Gulf Sulph 35 34% Union Carbide 42 41% 42 42 U S Ind Alco 38% 39% Virg Ch 6% pfd 18% Drugs— Cotv Inc . 5 s * Lambert ... 24% 24 24 24% Lehn Ar Fink 14% • Un Drug 12% Zonite Prod ... 4 Financial— Adams Exp .. 7% 7 7% 7% Alleghenv Corp Am Int Corp *% Chesa Corp 40% Lehman Corp 69 Transamerica 5% Tr C-ntl Corp 4% I Ruil’ting— Am Radiator 15 Int Cement 23

THE INDIANAPOLIS TIMES

Johns Manville 45% 45% Liboy Owens Qls - 28% Otis Elev ... 14% 14% Ulen Const 14% Household— Col Pa! Peet 14% .. Congoleum ... 27% 27% Keivlnator • 13 13% Mohawk Carpet Proc Ac Gamble .. ... .• 37% Simmons Bed .. .. ... 9% ... Textiles — Amer Woolen . 9 8% 8% 9 Belding Hem 12% Celanese Corp 20 20 s a Collins Aikman ••• 12 Gotham Hose ••• s'’B 5 '’ 8 New York Curb ißv Abbott. Hoppin A: Cos.) —Sept. 6 Close. 1 Close. Alum Cos of Am 54 Hiram Walker. 28% Am A- F Pw W 4% Humble Oil ... 42% Am Cvanide B’ 17% Imp Oil Ltd .. 15% Am Gas Ac El. 23 Hud Bav Min.. 14% Ass Gas Ac El. % Int Petrol 28% Atlas Corn .. 9% Lake Shore Min 58 Can Ind Ale A’ 8% Libbv McNn Lib 7% Can Marc ... 1% Lone Star Gas. 5 Carrier Corn... 8 Mt Producers 4% Cities Serv .. 2 Nat! Bellas Hess 2% Commonw Ed . 45 Newmont Min 4.4 Cord Corp .... 4 Nia Hud Pwr % Creole Petrol. 13% Park Davis .... 2.5% Deere Ac Cos .. 17 Penn Road ... 2 Distillers Corn 16 St Regis Paper. 2% Dow Chem 72% Sherwun Wms . 71 El Bd Ac Sh... 10% Std of Kv 15% Fisk Rubber 8% Technicolor Ind 12% Ford of Can 'A' 20% Teck Hugh Gld 6% Ford of Europe 8% Un Gas 2% Glen Aid Coal 19 Un Pw Ac Lt A’ 1% Gulf Oil of Pa 55 Wr Harg Min.. 9% Gotd Seal Elec 28 Chicago Stocks - Bv Abbott. Hoppin Ac Cos. —Sept. 7 High. Low. 11:30. Bendix Aviation 12% 12% 12% Berghoff Brew Cos. ... . 4% Borg-Warner 20% 20% 20% Butler Bros 8% 8% 8% Cities Serice .. .•■ 1 % Commonw-ealth Edison . 4% 44% 44 7 * Cord Corp 4 3% 3% Electric Household .... 15% 15% 15% General House Util 8% Iron Fireman 14% Libbv-McNeil 7% 7% 7% Lynch Corp 30% 29 29 National Standard 25 Prima Cos Swift Ac Cos 19 Swift International 39 Vortex Cup Cos ••• 1* Zenith Radio ••• 2%

Bond Prices “—■“ (By Fenner & Beane) —Sept. 7 High. Low. 10:30. Alleg Corp 5s 'SO 25% Am&For Pwr 5s 2030 50% AT&T db 5s 65 108% Atchison gen 4s '95 101% 101!* 101% Beth Steel 5s A 42 102% Brazil 6%s (26) ’57 . • 30 Can Pac 4s ’57 75% 75V* 75% ChMSt P&P 5s A '75... 28% 28% 28% Cons Gas NY 4%s ’57 ..103% 103 103% Erie RR rs 5s '67 66 Goodyear 5s '57 •• 100% Gt Nor 7s A ’36..' 88 87% 87% Xnterboro R.T 5s '66 ... 73% Int T&T db 5s '55 McKess&Robb 5%s ’SO. 84 83 83 Nat Dairy db sVis ’4B 98% NY Cent 5s O 2013 65% Nor Am 5s ’6l *s',* Pac Gas & El 5s A 42 105% Para Pub 5%s 'SO 47% Penn RR 4Us D 81 * 95'* Shell Un Oil 5s ’52 ... 99% Texas Corp 5s '44 ... 102% 102% 102% Tob Pr NJ 6%s 2022 107 Western Un 5s ’sl 83 2 U. S. GOVERNMENT BONDS ißy United Press) NEW YORK. Sept. 6.—Closing Liberty bonds. (Decimals represent thirty-seconds.) Liberty • 3'>s (32-47) 102.29 First 4%s (32-47) 102.30 Fourth 4%s (33-38) 103.16 Treasury 4%s —3%s (45) 101.11 4%s (47-52) HI. 3%s (43-47) 102.11 3%s 141-431 March 102.14 3%s (40-43) June 102.17 3%s (431 102.18 3%S (46-49) 100.20 3s (51-55) 99.21 FEDERAL FARM LOAN BONDS (By Blyth fi Cos., Inc.) —Sept 7 Bid. Ask. 4s JUlv 1. 1944-46 97 97% 4s Nov. 1. 1957-37 95% 96% 4s May 1. 1958-38 95% 96% 4%s July 1. 1956-36 96% 97 % 4'is Jari. 1. 1957-37 97V* 98 4%s May 1, 1957-37 97% 98 4%s Nov. 1. 1958-38 97 98% 4%S Mav 1. 1942-32 98% 99% 4%s Jan. 1. 1943-33 98% 99% 4',s Jan. 1, 1953-33 97% 98% 4%s July 1. 1953-33 97% 98% 4%s Jan. 1. 1955-35 97% 98% 4%s Jan. 1. 1956-36 98 98 5s Mav 1, 1941-31 100 100% 5s Nov. 1. 1941-31... 100 .100% —Home Loan—--3s May 1. 1964-44 97.22 97.30 4s July 1. 1951 97.20 97.28 —Federal Farm Mortgage Corporation—--3%s March 15. 1964-44 99.10 99.24 The three latter quotations are It thir-ty-seconds. On Commission Row —Sept. 7 Quotations below are average retail prices being offered to buyers by 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— Endie —Ohio. 2 doz,. basket. 85c. Sweet Corn—Home grown, doz.. 20c. Cabbage—Northern. 50-lb. bag. 85c. Celery—Michigan medium, dozen. 45c; Jumbo. 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. $2®2.50; Kentucky Cobblers, bushel. $1.50®1.75. Sweet Potatoes —Eastern Yellow Jerseys, bushel. $1.65. „ Beans—Round stringless, bushel. *1.20; home-grown Kentuckv 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 California, crate. $4.50. Cucumbers—Home grown, bu.. St. 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 (Bv United Press) CHICAGO. Sept. 7.—Apples—Michigan Wealthies bu. 2% inch. $1.35® 1.50. Tomatoes —Michigan. 12 qt. baskets. 30c651: mostlv 756 90c. Sweet Potatoes—Tennessee bu. $1 156 1.25. Peaches—Michigan, bu.. $1 506 2 Lettuce—California, crates. s2® 4. Ohio leaf basket, 40® 50c. Beans— New Jersev, green, bu.. 51.256 1.65: wax. Michigan. sl6 1.25. Cabbage—Wisconsin, crate. 506 90c. Corn—lllinois, sacks. 356 ® 75c. Carrots —Illinois. bunches. 2%®3c. Peppers—lllinois, bu.. 50®75c. Egg Plants flnnois. bu.. 40® 50c Celery—Michigan crate, squares. 30® 75c Cauit- iwer —Western. crate. $1,256 1.40. Apples—Michigan Mclntosh. 2% inch. *1.506 1 90. Grapes— Michigan, concord. 4 qts . 17® 19c. Onion market: Washington yellows. 90c®*1.10: Michigan yellows. 80c: Idaho whites, *l® 1.25. Other Livestock (By Times Special) LOUISVILLE Sept. 7—Cattle Commercial. 300, including 146 billed through; demand fairly broad for most slaughter cattle, quality generally plain and market mostly steady; bulk, common to medium steers and heifers, *3® 4.50. few low qualitied cutter grades down to $2 50 better finished fed offerings salable to $6.25 and above; bulk beef cows. *2.50®3; good kinds to *3.25 and abovl for heifer types, low cutters and cutters. *l6 2 25; sausage bulls, mostlv *2 506 3: run includes around 600 head fresh Hereford stock calves mostlv of qualitv to sell $4 506 5.50. Calves —Commercial, 1.000. including around 600 stock calves: vealers steady: bulk better grades. $66 6 50; strictly choice. *7: medium and lower grade vealgrs. $5 50 down: grass calves mostly $4.50 down. Hogs— Receipts 800 markf' steadv. top and bulk 185-275 lbs . $7.15: 280 lbs. up. *6 70: 160-180 lbs $6.45: 140-155 Ibs., *5.95; 120135 lbs.. $4 45: sows. $4 95; grassv and unfinished hogs subject to a discount. Sheep—Receipts 600. including 210 stock eucs market steadv: bulk better lambs *6 to mostlv. $6.50: bucks, discounted and most light throwouts $3 50; bulk fat ewes. $162: stock ewes salable, mostly S6fj7.sC a head.

PORKER PRICES REMAIN STEADY AT CITY PENS

Veals Strong to 50 Cents Higher at $8 Down; Cattle Even. Porker prices were generally steady with yesterday’s average in early trading at the local stockyards this morning. Receipts estimated at 5,500 showed a sharp increase over yesterday's figures, and initial demand continued weak. The bulk, 160 to 200 pounds, was salable at $7.15 to $7.25. Weighty grades, scaling 200 to 250 pounds, sold at $7.25 to $7.30. while 250 to 300 pounders brought $7 to $7.20. Few choice were reported salable at $7.53. Lightweights, ranging from 140 to 160 pounds, were selling at $6.25 to $6.50, with 120 to 140 pounds, salable at $5.60 to $6. Extremely small weights, scaling 100 to 120 pounds, cashed in at $4.75 to $5.25. Holdovers numbered 932. Finished steers and good cows were unchanged in the cattle market, with other grades mostly salable at buyers prices. . Few loads of steers weighing 1,288 pounds sold at $10.25, while other kinds, consisting mostly of common and medium killers, were salable under $7. Good and choice cows ranged from $4 to $5.50. Low cutters and cutters cashed in at $1.50 to $2.75. Receipts numbered 700. An advance of 50 cents featured veal trading, with the general run sell, ing at $7.50 to SB. Receipts were 700. Strong undertone was evident in the lamb market and mast prices were around 25 cents higher than the previous close. Good ewe and wether grades sold at $7. while several brought $7.25. Wet fleeces were considered. Bucks were $1 less. Throwouts sold at $4 to $5.50, while slaughter ewes ranged from $1.50 to $2.50. Receipts were 1,000. Bidding was around 5 cents lower than yesterday's average on hogs at Chicago at $7.50 down. Receipts were estimated at 14.000. including 6.000 directs; holdovers. 2,000. Cattle receipts were 3,000, including 1.000 government; veals, 5,500. including 5.000 government; maiket steady. Sheep receipts 9,000; market unchanged. A UR. Bulk. Top. Receipts. 31. $7.75t&- 7.65 $7.75 6,500 S l Pt ' 7.55(® 7.65 7.75 2.000 4. 7.2.4<ii 7.55 7.55 8.000 5 7.40@ 7.50 7.60 4.000 6 7.15® 7.25 7.35 4.000 7. 7.15® 7.25 7.35 5,500 Market, Steady (140-160) Good and choice...* 6.25® 7.15 —Light Weights—-(l6o-180) Good and choice... 7.15® 7.25 (180-200) Good and choice .. 1.20® 7.30 —Medium Weights—-(2oo-220) 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 (290-350) Good and choice... 6.90® 7.10 —Packing Sows—-(27s-350) Good 2s@ 6.50 (350-425) Good 5 (425-5501 Good 6.00® 625 (275-550) Medium 5.75® 6.15 —Slaughter Pigs—-(loo-130) Good and choice .. 4.75® 5.70 CATTLE Receipts, 700: Market, Steady. —Steers—-(sso-900) Choice $ 7.00® 8.50 Good 6.00® 7.75 Medium <-50® 6.50 Common 3 00® 4.50 (900-1,100) Choice 8.50® 9.(5 Good 6.75® 8.75 Medium 4.75® 7.25 Common 3.25® 4.75 d.IOO-1,300) Choice 9.00®1.0.40 Good 7.36® 9.25 Medium 5.50® 7.50 (1,300-1,500) Choice [email protected] Good 7.75® 9.50 —Heifers—-(sso-750) Choice $ 7.00® 7.75 Good 's.7 s ® 7-<W Common and medium 3.00® 5.75 (750-9001 Good and choice ... 5.75® 7./5 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 ar.d medium 2.25® 3.25 VF.ALERS Receipts. HHt; Market, Higher. Good and choice $ 7.00® 8.00 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 1800-1,050) Good and choice.. 4.50® 5.50 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, 1,000; Market. Higher. Lambers. 90 lbs. down, good and choice $ 6.75® 7.25 Common and medium 4.50® 6.75 —Ewes—-(9o-120) Gooct ana choice ... 2 00® 2.75 (120-1501 Good and choice • ■ 1.75® 2.50 All weights, common and medium 1.25® 2.00 Other Livestock (By United Press) CHICAGO. Sept. 7.—Hogs—Receipts, 14.000, including 6,000 directs; market slow, fully 10 cents lower than Thursday; 200300 lbs.. $7.35® 7.45: top. $7.45; 140-190 lbs., 56.25®7.35; pigs. $5.50 down; packing sows, largely s6.so'b 6.76; light lights 140-160-lbs., good and choice, s6®7; light weights, 160-200 lbs., good and choice. 56.85®7.45; medium weights, 200-250 lbs., good and choice, $7.30 7.45: heavy weights, 2250-350 lbs., good and choice. $7.15® 7 40; packing sows. 275-550 lbs., medium and choice, $5.50® 6.90; slaughter pigs, 100-130 lbs. good and choice. $4.50 ®6. Cattle—Receipts. 2.000: commercial, 1.000 government; calves 500 commercial. 5.000 government: well-finished steers and yearlings very scarce; fully steady with Thursday s advance; others about steady; she-stock slightly more active, steady; bulls 10® 15 cents lower; vealers firm; best 874-lb. yearling steers, $8 15; part load lots good, medium weight steers. $8®9.25; best sausage bulls. *3.60; selected vealers. $8.75®9: slaughter cattle and vealers: steers 550-900-lb., good and choice, 56.25® 9 25: 900-1.100 lb., good and choice. $6.75® 1025: 1,100-1.300 lbs., good and choice. $7 (6 10.60; 1.300-1.500 lbs., good and choice, sß® 10.75. 550-1.300 lbs., common and medium. $3.25® 7.75; heifers. 550-750 ibs.. good and choice. $6®8.50; common and medium. $3.25® 6: cows, good $3.75® 6: common and medium. $2.50® 3.75; low cutter and cutter. SITS'S 2.50; bulls, (yearlings excluded). good beef. $3.25® 4.25; cutter common and medium. S2.SO'S 3.60: vealers. good and choice. s7®9: medium. *s®7; cull and common. s4®s: stocker and feeder cattle: Steers. 550-1.050 lbs., good and choice. $4 50® 5.50; common and medium. *3® 4.50. Sheep—Receipts. 9.000: fat lambs very active: 25 cents and more higher: native offerings $6.75 to mostly $7 ;best held $7.25 upward; best rangers still unsold; bulk plainer offerings. $6 75 downward: sorted around 35® 40 per cent: one car straight at $6.50: sheep and feeding lambs, steady; top feeejrs. *6: slaughter sheep and lambs: lambs 90 lbs. down, good and choice. $6.65 ® 7.25: common and medium. $5.50®6.75: ewes. 90-150 lbs., good and choice. $1.75 ®2 85: all weights common and medium. $1 50®2.25; feeding lambs, 50-75 lbs., good and choice $5.3566. FT. WAYNE. Sept. 7 —Hogs—Steady to 5c lower; 230-300 lbs.. $7 10; 200-250 lbs . $7- 180-200 lbs , $6 90: 160-180 lbs.. $6.80; 300-350 lbs.. $6.90: 150-160 lbs.. $6.25: 140150 lbs. $6.25: 140-150 lbs $6. 130-140 lbs $5.75; 120-130 lbs. $5,50: 100-120 lbs.. $4.85: roughs. $5.50: stags, $3.50. Calves—*7.so: lambs. *6 50. LAFAYETTE Sept. 7.—Market steadv to 10c lower: 200-250 lbs *7 106 7.20: 250300 lbs *6.95® 7.05: 300-325 lbs., $6.75. 170-200 lbs. s7® 7 10- 180-180 lbs . $6 90 6 7- 140-160 lbs. *666 25; 120-140 lbs., *5 25 6 5.75: 100-120 lbs . *4 50 65: roughs. $6 down top calves. *7: lambs. *6 down. Prayer Book, Purse Stolen An apparently pious thief stole a prayer book and a purse containing $37 from the home of Miss Edna Kane, 1931 North Illinois street, early today.

Condition of U.S. Banks Strong, Crowley Reports

$5,000,000,000 More Could Be Loaned to Speed Recovery. By I'tiitrd Prrt * WASHINGTON. Sept. 7.—Banks can lend $5,000,000,000 more to American business and industry to speed recovery without endangering their financial structure, chairman Leo T. Crowley, of the Federal Deposit Insurance Corporation, believes. Stressing what he termed “the overliquidity of banks,” Crowley made public the first combined condition statement as of June 30 of the 13.867 of the nation's 15,541 operating banks, which are FDIC members. Crowley said combined deposits of member banks total $35,766,394,000 against which are $19,660,534,000 in cash and United States government securities. This, he explained, gives the banks an average liquidity of 54 per cent. Cash and securities holdings, he said, could be safely reduced to $14,306,400,000, thus throwing the remaining $5,000,000,000 into business and industrial loans. This would mean a 40 per cent liquidity average. "Banks are altogether too liquid. If they can find sound loans, they should make them. We can't have recovery unless loans are made,” the chairman explained. ABBOTT, HOPPIN & CO. WILL CHANGE NAME New Firm to Assume Title of Abbott, Proctor * Paine. Abbott, Hoppin & Company, investment brokers, will make a change of name, effective Oct. 1, James T. Hamill, co-manager with K. Ri. Woolling of the Indianapolis branch, announced yesterday. Name of the new firm, whose headquarters are located at 120 Broadway, New York, will be Abbott, Proctor & Paine. Members of the new firm are Gordon W. Abbott, William R. Proctor Jr., Hugh E. Paine, Lewis A. Williams, James F. Shaw. Maynard C. Ivison and Robert W. Atkins, all of New York; Louis C. Seaverns, and Burford L. Porter, both of Chicago; Louis H. Colwell, Montreal, and John Sise, New York, special partner. The change will not effect the personnel of the Indianapolis office, located at 203 Continental Bank building, Mr. Hamill said. DEC LA RES 2 DIVIDE NDS Canadian Celanese Earnings Will Cover Payment. By Timm Special CHICAGO. Sept. 7.—Canadian Cvlanese, Ltd., declared a dividend of 75 cents a share on the 7 per cent participating preferred on account of accumulations and the regular quarterly dividend of $1.75 a share on this stock, payable Sept. 30. With the declaration of a dividend of 35 cents a share on the common stock, payable Oct. 1, H. S. Wherrett. president, said earnings for the year are expected to cover dividend payments which will amount to $1.30 a share with the Oct. 1 disbursement. The company paid 70 cents a share in 1933. Transportation Cos. Shows Profit. By Timm Special NEW YORK, Sept. 7.—June operating revenues of New York City’s Independent Rapid Transit System totaled $788,439, and profit after expenses was $245,828. reports disclose. For the twenty-two months ended June 30, operating revenues amounted to $11,233,877 and profit after expenses totaled $2,492,212.

Produce Markets Delivered in Indianapolis prices: Heavy hens, 14c; Leghorn hens. 9c: 1934 broilers, 2 lbs. and over. 14c: Leghorn broilers. 1% to 2 lbs., and over. 10c; bareback broilers. 10c; old roosters. sc; ducks, 4c; geese, sc; young guineas, 20c; old guineas. 15c; No. 1 strictly fresh country run eggs, loss off 19c. Each full case must, weight 55 ibs. gross: a deduction of 10 cents a pound for each pound under 55 lbs. will be made. Butter—Nol, 29®30c. Butterfat, 23c. Quoted by the Wadley Company. (By United Press! CHICAGO. Sept. 7.—Eggs—Market, steady; receipts. 5,101 cases; extra firsts, 22%c; fresh graded firsts. 22c; current, receipts. 17®20c; dirties. No. 1. 17c; No. 2, 14c; checks. No. 1. 16c: No. 2. 14c. Butter Market, weak: receipts, 15.764 tubs: extra firsts (90-91% scores 24%®24%c: extras (92 score', 25%c; firsts (88% score', 23%® 24c; seconds 'B6-87% score 1. 22® 23c: special. 25%®20%c; standards. 25c. Poultry—Market, firm: receipts. 1 car: 44 trucks. 1 car due: fryers, 15%®17%c; broilers, Leghorn. 15®!6c: geese, old. 12c; turkeys, 10% 12c; old roosters, lie: hens, 156 19c: Leghorn hens. 12c; black chicks. 106 12c; barebacks. 13c; cocks. 8c: old ducks, 12618 c; spring ducks. 12616 c: Leghorns. 196 20c; Rock springers. 19%® 20c. Cheese—Twins. 13®13%c; daisies. 13%® 14c; longhorns. 13%® 14c. Potatoes —Supply moderate: demand and trading, slow: market weaker on Cobblers, steady on olher stock: Wisconsin Cobblers, $1.20 61.25; Idaho Russets. $1.756 1.90; New Jersey Cobblers. $1.35; North Dakota Triumphs, $1.75: Minnesota Cobblers. $1.12; Michigan Russets. combination grade. 51.65: arrivals, 84: on track. 169; shipments. 539 NEW YORK. Sept. 7.—Potatoes—Steady; Long Island, 40c®51.50 bag: New Jersey, 85c®$1 bag. Sweet Potatoes —Quiet: Jersey. basket, 75c®51.75; southern, barrel, $2.756 3.75: southern, basket. 50c® $175. Dressed Poultry—Firm; turkeys, 17®32c; chickens. 10%®28c: broilers. 16®28c; capons, 256 26c; fowls. 10®21c; Long Island ducks. 14617 c. Live Poultry—Firm; geese, 8® 10c: turkevs. 176 23c; roosters, 12c; ducks. 126 19c: fowls. 126 21c: chickens. 20-25 c: broilers. 15-24 C. Cheese—Unchanged; state whole milk, fancy to specials. 19®20c; Young America. 14' <6 34%c. Butter—Receipts. 10.131 packages; market, easier; creamery, higher than extras, 26® 26%c; extra (92 score). 25%c: first, '9O-91 score. 25®25%c: first 'BB-89 score), 23%®24%c: seconds, 23®23%c: centralized (90 scorei. 25c; centralized, ■ 88-89 score. 23%®24%c; centralized (8487 scorei. 23®23%c. Eggs—Receipts. 13.456 cases: market, firm; special packs including unusual hennery selections. 25® 28c; standards. 24®24%c: firsts.-22®22%c; seconds. 21®21%c: mediums. 21®21%c; dirties. 21®21%c; checks. 176 18c. CLEVELAND. Sept. 7.—Butter—Market weak: fxtras. 29' 2 c: standards. 29c. Eggs —Market firm: extra white. 24c: current receipts. 21c. Poultry—Market firm: fowls, colored. 4% lbs. and up. 20c. colored fowls, medium 17%c: Leghorn fowls. 3% lbs and up. 10c: Leghorn fowls. 13c: springers. Rock. 3% lbs. and up. 216 23c: springs. Rock. 3% lbs. and up. 196 20c; springers. leghorn, heavr. 17c: springers. Leghorn, light. 16c: broiltrs, colored. 186 19c: old roosters. 12c: ducks, white. 5 lbs. and up. 17c; ducks, light. 13c. PotatoesNew Jersey. $1 256 135 a 100 lb. bag: Idaho. $1 9062 a 100 lb. bag: Ohio, best $1 156 1 20 100 lb. bag: Pennsylvania. *1.25 61.30 a 100 lb. bag.

1 Buy Bldg, e Loan Newton and Stocks T ij Sail 415 Lemcke Bldg. * OQu

JCEUJEB yiOßPfa & investment l(§f Securities We are interested in the purchase of high grade INDIANA MUNICIPAL BONDS INDIANAPOLIS Continental Bldg. Riley 3321 NEW YORK SOUTH BEND MUNCIE

APPROVE NEW BONDS IN TWENTY-ONE STATES August Total Amounts to Only 52,883.278. By Timr/t Special NEW YORK, N. Y.. Sept. 7. New municipal bond issues approved by voters of sixty municipalities in twenty-one states during August totaled only $2,883,278. as compared with $4,898,695 approved in August. 1933. August totals for previous years were $2,848,829 in 1932; $4.044.750 in 1931, and $3,369,000 in 1930. The largest item approved during August was a $375,000 issue of Dayton. 0., bonds. Remaining items were all in amounts of $200,000 or less. During August, the voters of seventeen communities in thirteen states rejected propasals to issue bonds aggregating $1,482,500. as compared with $3,231,000 rejected in August. 1933. $1,105,000 in 1932. $1,039,500 in 1931 and $75,283,900 in 1930.

FAIR DOUGHNUT BUSINESS GUOU 2,000 Dozen Sold at A. & P. Stand to Labor Day Visitors. Have you ever tried to picture in your mind 2.000 dozen doughnuts? Twenty-four thousand ’‘sinkers!” A rather overwhelming number of those delicacies, it seems, but just that many of the delicious little circles were sold Labor day at the Atlantic and Pacific Tea Company booth in the manufacturers’ building at the Indiana state fair. In this attractive exhibit, the endless throngs that pass through the building sit at .tables, and, served by attractive waitresses, partake of coffee and doughnuts; 1 cent for one doughnut and a nickel for a cup of good coffee. Comparing the sale of those 24.000 doughnuts to the 75,000 persons who attended the fair Labor day, Morton S. Cox. district sales manager for the company, estimates that one doughnut was sold to approximately every third person who passed through the exposition grounds Monday. So long was the waiting line at the A. & P. booth Monday that in order to take care of all customers it was necessary to make an allotment of two “sinkers” to each cup of coffee sold. Many women, standing in line almost an hour, wanted to buy them by the dozen. Since then it has been possible to fill such orders, although business still is heavy, a checkup revealed. More than six thousand dozen were sold from the opening of the fair through last night. “This is the first time we have attempted operation of such a booth at the fair,” Mr. Cox declared. “Naturally we are pleased with the response and we intend to have something just as popular next year,” he said. Cash Grain INDIANAPOLIS —Bept. 6 The bids for car lots of grain at the call of the Indianapolis Board of Trade, f. o. b., shipping point, 17' 2 c to river. Wheat—Firm; No. 1 red. 95%®96%c; No 2 red. 94%®95%c; No. 2 hard, 96%® 97%c. Corn —Steady: No. 2 white, 77®78%c; No. 3 white, 76%677%c: No. 2 yellow, 74% 6 75c: No. 3 vellow. 746 74%c: No. 2 mixed. 73%®74c; No. 3 mixed. 73®73%c. Oats—Strong: No. 2 white, 51 %®s2c; No. 3 white, 50%®51%c. Hay—(F. o. b. country points talcing 23%c or less rates to Cincinnati or Louisville)—Steady; No. 1 timothy, $14614.50. —lnspections Wheat —No. 1 red, 2 cars; No. 2 red, 1 car; No. 3 red. 1 car. Total, 4 cars. Corn —No. 2 white, 1 car: No. 3 white. 3 cars; No. 1 yellow, 2 cars; No. 2 vellow, 11 cars; No. 3 yeliow. 5 cars; No. 4 yellow, 1 car; sample yellow. 1 car. Total. 24 cars. Oats —No. 3 white, 10 cars. Total. 10 cars. Rye—No. 2, 1 car. Total. 1 car. Local Wagon Wheat City grain elevators are paying 94 cents for No. 2 soft red wheat. Other grades on their merits (Bv United Press) CHICAGO. Sept, 6.—Cash grain—Wheat —No. 2 red. $1.07: No, 2 mixed, $1.11% imainly hard'. Corn—No 1 yellow. 826 82%c; No. 2 yellow. 826,82%c; No 3 yellow. 81%®82c; cample, 75c. Oats—No. 2 white, 57%®60c; No. 3 white, 57%c; sample. 49®50%c. Barley—B3c®sl.o6; quotable. 80c®$1.20. Timothv—sl6.so6lß. Clover seed—sl6.so62l. Cash provisions —Lard, $9.50; loose, $9.55; leaf, $10.50; bellies. $13.92. TOLEDO. Sept. 6.—Grain close: Grain in elevators, transit billing. Wheat—No. 2 red. $1076 1.08. Corn—No 2 yellow, 84%®85%c. Oats—No. 2 w'hite. 59%® 50%c. Rye—No. 2, 88® 89c. (Track prices 24%c rate) Wheat—No. 1 red, $1.0361.04, No. 2 red. $1.026 1 03. Corn—No. 2 yellow. 80%®81c; No. 3 yellow, 80®%0%c: No. 4 vellow'. 79%®80c. Oats—No. 1 white. 56%®59c: No. 2 white. 56®58%c; No. 3 white. 54%®56%e ST. LOUIS. Sept. 6.—Cash grain: Wheat—% to 2 cents higher; No. 2 red winter. $106%6 1.07: No. 3 red. $1.05%® 1.06; No. 2 hard. $1.14% nominal; No. 2 light garlicky. $1.05; No. 1 dark hard. $1.15%. Corn —1 to 1% cents higher, old No. 1 vellow. 83c: No. 2 vellow, 82%c; No. 3 yellow, 82c: No. 2 white, 85%®86c: No. 3 white. 84%c. Oats—l cent higher: sample grade, white. 56c: No. 3 cereai white. 56c. Regular Payment Declared By Time* Special NEW YORK, Sept. 7.—Directors of the Tri-Continental Corporation have declared a regular quarterly dividend of $1.50 a share on the $6 cumulative preferred stock, payable Oct. 1 to holders of Sept. 15. General Banking Courteous, dtptndablt ttrriet Bankers Trust Cos.

SEPT. 7, 1934

MAJOR GRAINS HIGHER; FOREIGN MARKETS FIRM

All Months of Wheat, Oats and Rye Reach New Levels. * BV HARMAN W. NICHOLS I nitPd Pi-pa* Staff Corre*pondffnt CHICAGO. Sept. 7.—Firmness in foreign markets encouraged a continuation of the upward movement of wheat prices at the opening of the Chicago Board of Trade today. Wheat started % to % cent higher, corn was unchanged to off % cent; oats were unchanged to % cent higher, and rye was up % to % cent. Strength was noted in the opening both at Liverpool and Buenos Aires, while Rotterdam finished % to a cent improved. All deliveries of wheat, oats and rye reached new highs on the current upward movement with the first sales of the morning. Chicago Futures Range —Sfpt. 7 Prr*. Wheat— High Low. 10 00 Close. Sept 106 1 05% 1 05% 105% Dec 1 07% 1.06% 1 06% 1 06% May 1.07% 1.06’* 1.07% 107% Corn— Dec 80% .79% .79% .80% Mav 83% .82% .82% 83% Oats— Sept .54% .54 .54 .53% DCC 54 7 . 54% .54% 54% May 55% .54% .54% .54% RyeSept .85% Dec 88 .86% .86% 87% May 91 .90 .90 .90% Barley— Sept .. .. .86 Dec. .-. .. .. .82% May .. .. 4. .83 CHICAGO PRIMARY RECEIPTS —Sept. 6 Bushels. Todav Last. Week. Wheat 640.000 660.000 Com 630.000 1,157,00(1 Oats 117,000 138.000 DEMAND DEPOSITS UP. FEDERAL BOARD SAYS Ninety-One Cities Show Increases for Week Ending Aug. 29. By Timms Special CHICAGO. Sept. 7.—The federal reserve board's condition statement, of weekly reporting member banks in ninety-one cities on Aug. 29 shows increases for the week of $108,000,000 in net demand deposits and $69,000,000 in reserve balances with Federal Reserve banks, and decreases of $17,000,000 in loans and investments and $33,000,000 in government deposits. Loans on securities declined $17.iM)0.000 at reporting member banks in the New York district and $24,000,000 at all reporting member banks. “All other” loans increased $9,000,000 in the New York district, $5,000,000 in the San Francisco district and $12,000,000 at all reporting banks. Holdings of United States government securities declined $14.000.000 in the New York district, $8,000,000 in the Chicago area and $24,000,000 at all reporting banks. THREE ROADS REPORT GAIN IN RAIL TRAFFIC Substantial Increases Shown in Freight Loadings. By Times Special CHICAGO, Sept. 7.—Substantial increases in freight traffic by the first three roads to report for the week ending Sept. 1 appeared to vindicate predictions of rail officials that the summer lull in business will be followed by gains this fall. August reports indicated a slight increase in total traffic over July, but were about a standoff compared with the same month a year ago. All western roads showed heavy gains compared with 1933, due to increased grain shipments and the big movement of drought live stock. Week's traffic on the Chicago Northwestern totaled 28.338, compared with 26,181 the previous week and 26.655 a year ago. The Santa Fe handled 26.761 cars, compared with 26.469 and 23.022 respectively. Cars loaded on the Milwaukee road totaled 27.892, as compared with 26.818 the previous week and 25,256 a year ago. ' BE SAFE in*nrw Your Cur Today Sg&|||@Stata Automobile Insurance Ass'n. LlJs7L^7thfToqr ; Or<ddrn>l > J4l4*. WE BUY AND SELL: U. S. Gov*icm*nt Bond# U- S. Territorial and Insular Bond* Indiana Municipal and Gravol Road Bonds Land Bank Bonds Horn* Owners' Loan Corporation Bonds Bonds snd Stocks of Indiana Corporations General Market Municipal and Corporation Bonds y Indianapolis Bond and Share Corporation 179 so) A Aarkat Sfreet Hfepboeq f*r 45if Moderate First Mortgage Loans on Improved Indianapolis Real Estate The Indianapolis Morris Plan Company Delaware and Ohio Sts. RI-1536 i3 200.000