Indianapolis Times, Volume 46, Number 152, Indianapolis, Marion County, 5 November 1934 — Page 8

Developments in Trade and Industry

PAGE 8

STORE STOCKS RESUME RISE; LEADERS DRAG Some in Mercantile Group Reach New 1934 Highs; Oils Strong. Bf VniUd Pm, NEW YORK. Nov. s—Special issues continued to attract attention on the Stock Exchange today, whiic leaders moved narrowly in light tumovpr. Oils strengthened, notably the California issues. United Stores A stock was th° most active issue on the board. It made anew 1934 top at 6%, up % point. McCrory Stores was next in volume. It made anew high for the year at B'*, up %. and net tops were made by the B at 7%, up N. and the preferred at 57. up %. National Department Stores reached 3 s. up ' in active turnover hi'iier grade mercantile issues also were in den and with gains ranging to more than a point. Celotex issues featured the building department. The certificates rose a point while the preferred was up 4 Budd Manufacturing issues were strong. Among issues to make new 1931 highs were American Circle at 6i, up Vi; Coca Cola. 146%, up 2%; Electric Auto-Lite Preferred. 103, up 3; General Motors Preferred. 105'h, up %; Universal Leaf Tobacco. 58 . up and Wilson Preferred 92, up V United States Steel at noon wa:32. off %; American Telephone 110%. off %; Atchison. 53. up Vi; Case, 47%. up **; General Motors. 29', up %; Chrysler 34'*. off %; Consolidated Gas. 26 . off and Westinghouse Electric, 31%, up%.

Treasury Statement

ißv United Freest WASHINGTON Nor. 5-Government expenses and receipts for the current fiscal year to Nov. 2. compared with the corresponding period of the previous fiscal year: This Year Last Year Expenses $2,354.32* 271 00 $1 473 .085.943 11 Receipts. 1.353.012.599 21 972 777.135 07 D'ftctt 1 090 313.071 79 500.308,808 04 Cash Bal <1 758 485.417 15 HUGE~RUBBER EXHIBIT LAUNCHED IN ENGLAND Complete Display of Story of Product Is Presented. By United Press LONDON, Nov. s.—Representing the rubber industry of the entire British empire, one of the most complete and scientifically inclusive exhibits ever contemplated is being held in the Science museum at South Kensington. Sponsored by the Rubber Growers’ Association collaborating with the Rubber Research Institute of Malaya, the Research Association of British Rubber Manufacturers and liic London Advisory Committee for Rubber Research in Ceylon and Malaya, the several aspects of the utilitarian and strictly scientific uses of rubber are being discussed and demonstrated. A complete display of the story' of rubber from the time the latex is tapped in the rubber tree to the time it has been prepared for its diverse uses, now is in progress. The plantation, the manufacturing processes, scientific treatment, tests and applications are being thoroughly discussed by experts.

On Commission Row

Quotattonx below are average wholesale prices being offered to buyer! by local commission dealers. FBITTS —Cranberrtes. Cape Cod. early blacks 25-lb box. *3 0 Grapes. Michigan Concords. 12-qt. basket. 50 c: California Emperors. 27-lb. box. *2. Crabapp.es, Michigan hvslops. bushel. 1185 Persimmons, Indiana. 12 qts„ Me. Pears. New York. Bartlets, bushel. .. Avacados. box 81.50. Quinces, bushel. <3. Bananas, pound. sc: pineapples, crater <5; sire 30. Apples, mataen blush. 81.50; northern spvs. <1 35. Indiana Jonathans. 81.85: grimes golden. 81.5001 75. Mellons. California honev dews. 82 25. VEGETABLES— Cabbage. Northern Danish. 50-lb bag. 60c: red pound. 3c. Onions. Idaho, sweet Spanish, large. 50-b. bag. 81.40; Michigan yellow. 11>. Altt, boilers. 10-Ib. bag. 35c. western white. 50lb bag 81 75. Potatoes. New Jersey Cobblers?* 1 On-lb. bag. 81 35; northern round white. 190-lb. bag. 81; Ohios. 100-lb. bag 81 55: Idaho Russets. 100-lb. bag. 82. Sweet potatoes. Indiana Jersey* bushel. 81.50. Indiana Nancy Halls, bushel. 81 Beans, round stringless, bushel. 81 • <*■ dozen. 20c. Carrots, home-grown, dozen. -35 c Cauliflower, crate. 81 75. Celery. Michigan, medium, doz*n. 40c. Jumbo, doien* sc: hearts, bunch 90c. Cucumbers, hothouse, dozen. 125. Endive, dozen. 40c. Eggplant, do-en. 75c. Kale, home-grown, bushel 50c. Lettuce, outdoor. 15-lb. basket 60c Mangos. bushel. 85c. Mint, dozen 50c. Parsley, dozen. 35c Peas— Hamper 83 75. Spinach, home-grown. SESleaf. busheL ssc. Raduhcs dorrn. 30c. Tomatoes, outooor. 12-lb. basket 45c, bushel. 81.50 Turnips, home grown, dozen. 20c. pumpkins, dozen. 81.25. miITS AND VEGETABLES ißv United PressCHICAGO Nov B.—Apiles--Mi c htM , Mclntosh bushels. 2%-tnch. 81 <5. Jonathons. 81 25 fl 50 Sweet potatoes-Ten-ncs.iee busnle.s 75i9*c Lettuce—California c-ates 81 75-i 265 Peppers— Illinois, bushe's 50c Celerv Michigan square crates. 40-r6sc Oregon cauliflower, crates. 81® 1 3:Michigan II ®1 25 Grapes M.chiwan Concord. 30® 35c. N Y.. 48-is2c. jJ quarts Cranberries Massachusetts. % barrels 833 10. Wisconsin. 83 25-13 50 SDUiach— Missouri bushels. 25® 50c. Michlasri 254 t 40c Csiaots—lllinois bushels. tO-i 50c Celery flat crates SSti 4(V Beets—llltnois and Indiana green bunches Bc Onion market ViO-lb sacks' Michigan vellow *s® 90c. M thtgan whites. II 30® 135 western yelUi|g <1: Illinois yellows. 50® .Sc.

Produce Markets

Delivered in Indianapolis prices: Heavy hen* lie Lee horn hen*, .c. colored aprirerr*. c: o.d roosters sc. ducks. 5c eeese 5c vour* guineas. 20c o.d guineas. 15c Ho ‘l strictlv (resh country rua egg* cfl' 24c. Esch lull case must we:gn M! he Br os: a deduction of 10c a pound for each pound under 55 lbs will b* made Butter—NV L 30® 31c. Butterfal—2sc. Quoted by the Wadlee Company. <By United Press' CHICAGO Nov 3 Eg** Market atrady receipts 793 eases, extra firsts. 2*c fresh ended firsts. 27e: current receipts. JTVQfi’g dirties No 1 20c No 2. lie check; No I. 19 i( No 2 !3c Butter—asar ket stevdv receipts. ...59 tubs, extras 92 *csre> 28c firsts 88-89 score'. 24 t42*c extra firsts <9O-91% score'. 27® 2*l- seconds <B6-87% score., 24c specials. 28 z®29c. standards 27%c Poultry—Market firm receipts. 20 trucks. 3 cars due; eeese 10*!c turkevs. 14® lc old roosters, Jbc ducks heavy. 14® 15c spnngers. heavy colored 14 ! c heavy white rock. 16c. hens 4% tbs up 14c. medium. 13c. guinea hens dozen 85*. 7 Leghorn springs. 12c Twin* tlt3%C dais:e*. I3‘,t I4c Longhorns. 14®!4%c. Potatoes — Bupoiv liberal, demand arid trading slow: market about steady Wisconsin Round whites 77%♦*2c commercial grade. 70® 72% cents. Idaho Russets 11 00® I*s coni in nation grade 1! 15l 110 Colorado McClures 81 (2%#t 90 Michigan round tgkges. 80 cents Arrivals 100 on track 239 shipments Saturday 90S Sunday 7* CLEVELAND Nov s—Butter—Market, firm; extras. 32c, standards. 31e. Eggs— Ma-We- steady extra white 33c: current -ecetpts. 2Se, pullet* 22c Poultry—Market. stead' fowls colored. 4% lb* and up. 17c. ducks, light lie: geese heavy fat 14c; geese ordinary. 12c. turkeys young 19620 c old hens. 17-llc Potatoes—Marne 8115-125 a 100-lb bag. Ohio best mostly 75c a 100-lb. bag, Idaho. SjL.TIC.IO * 100-Lb. teg.

Siuwey of Current Business Conditions

LEGEND 1934 ’ BUSINESS ACTIVITY (NEW YORK TIMES)* STEEL INGOT PRODUCTION CONSTRUCTION CONTRACTS AWARDED* *V r t WOV; j HAft I IVULT ; *U<h MET | QCI } QV \ OCX UUl| Ha| *** i *!** j JU*C pULT | AJfc. [ MPT. } QC TANARUS, J *o* | DtC ’:=EE^. to -\r 20 jr'TZi 20 so I■ i■!. 111.. i, I. ■ ■ 11111.i,11,111.111,11iJ11111111 uiJ oliii.llll l llll l lllllll l llll l l■ t Jlll l lll.llll l lll l ,iul nlill l l ii 1 1111 In 11111 1 m 1 1. 11 1 111 li 111 1 ii 1 1 111 1 1 n i AUTOMOBILE PRODUCTION A LUMBER PRODUCTION BITUMINOUS COAL PRODUCTION* • 60 1 IO'JI 00 1 z - 10 a,i. ...... i. 1..... 1..:. I; i; 1i 1; 1. 1 11 1 1: i olm 111 1 1 1 ill 1 111 1 11 ll 1111 1 111 1 111 1 1111 Ki l.lllillill) Oli i il. .i Ii 111 In iln 1 1 1 mil 11 linll.i i ilinJi nlmi FREIGHT CAR LOADINGS COTTON RECEIPTS ELECTRIC POWER PRODUCTION * ,oo i ■ ' *OO r i2oi eo —— *° so^ *0 1.—.1, 1... 1...i1l 111 liji 111 111 01l I n■III In I 111 I 111 111 80 Ii I 1 1 1 nTiWiTiVT.i 1 1 1111 1 111 1 11 ill 111 1 mill! 1 1 111 FISHER'S WHOLESALE PRICE INDEX* BOND PRICES* STOCK PRICES* • 00 120 ~| 1501 4 0 l.nlnilinililllllllllllllllliulllllllllllllllllll 60 Ln 1111111 nI n ill illin iln ! 111111 n 111 ■ 111! 111 nll o li. ■l■■■lii■ 11 n■li iil mil ii Ii 111111 11 n i 1111 I■ in COMMERCIAL FAILURES* BANK DEBITS OUTSIDE NEW YORK CITY* BROKERS’LOANS NEW YORK CITY 220 |4o| 1001 ,# 0 7S“ ‘2O 80 • 40 i oo 60 . n 1 1 1 il 1 1111 1 111 1 n 1111 l 11l 11 1 111 Jiil ll 111 ll ll 1 1111 40 i.l 1 1 ill liin Li nil nli n_iln 11111111111111111111111 0 iiilinliiiiliiiliiiliiilliiilililiiiiliiilinli.il FEDERAL RESERVE MEMBER BANK LOANS TIME MONEY RATES* MONEY IN CIRCULATION * •00 ISO I “ .601 T ~ 1 90 1 100 uo "° S0 ~ / >1 . 0 j-' In* ^ 1 0 * I FSte: I 1 00 las lub Imv ITprlmuLu'w Ijjalvd T COMPUTED NORMAL • 100 * CRAMS ESTIMATE US. and CANADA *1926*100 ' * NUMBER ® OAILY AVERAGE * 192A -‘930 = 100

New York Stock Exchange Prices

ißy Thomson Sc McKinnon* it A M. Prev. Oils— High. Low. N. Y. close. Amerada 42% 42% 42% 42% All Rfg 24% 24% 24% 24% Barnsdall 6% 6’ 4 6*4 6% Consol Oil 8% 8 8 8 Cont of Del ... 17% 17% 17>4 17 Ohio Ot! 9% 9% 9% 9% Pet Corp 8% 8% 8% 8% Phillips Pet 14% 14% 14% 14% Plvmouth Oil .. 8% 8% 8 8% Seaboard Oil ... 25% 25% 25% 25% Shell Un 6% 6% 6% 6% Soc Vac 14 13’* 14 13% SO of Cal 33% 32% 33% 32% SO of Ind ... 23% 23% 23% 24% SOOf N J .... 42 41% 42 41% Texas Corp 21 21 21 21 Tidewater Assn . 9% 9% 9% ?% Un Oil of Cal . 15% 15% 15% 15% Am Roll Mills .. 17% 17% 17% 17% Beth Steel 25% 15% 25% 26% Bvers A M ... 16 16 16 15% Ludlum Steel ... • 12 • McKeesport Tin. 90% 90% 90% 90 Mid Steel 8% 8 8 ••• Natl Steel ... 39 38 s * 38% 38% U S Steel pfd 74% 74% <4% .• Youngstn SSc T 16% 16% 16% 16 .Mators— Auburn 25 25 25 25 Chrysler 34 s . 34% 34% 34% Gen Motors .... 30 29*4 29% 29* Graham Mot •% Hudson 9% 9 9 i t Hupp 2% 2% 2% ... Mack Truck.... 24% 24% 24 2 ••• Nash 14% 14% 14% 14 2 Packard 3% 3% 3% J a Studebaker .... 2% 2% 2% 2* Yellow Truck... 33 32, Motor Access— Bendix 12% 12% 12% ... . Bohn Alum .... 54% 54 54 53 2 Borg Warner 25 25 25 24 4 Bricgs 17% 17% 17% 17 Budd Mfg 6 5 s 5 5% B idd Wheel ... 2% 2% 2% 2% Elec Auto Lite . 24% 23% 24 23 4 Murray Bodv ... 4% 4% 4% Stew Warner ... > 7 1 Timken Roll 29% 29% 29% 29-4 Mining— Alaska Jun 18% 17% 18% 18% Am Metals .... 13% 13. 13% 13 2

Gleanings

Steel Output Moves Up The steel industry reversed its trend in October, pig iron production gaining 5.8 per cent and output of steel ingots climbing to a point higher than in the corresponding period last year, according to the magazine Steel. Among the new business now in sight, the magazine points to Chrysler's plan to build a $1,000,000 assembly plant in Buffalo. and the Carnegie Steel Company’s decision to build a continuous strip mill plant at MacDonald, O. Pecora Lauds Exchanges Ferdinand Pecora, inquisitor of stock exchange practices before the senate, and member of the securities exchange commission, declared in a speech at Hartford. Conn., yesterday that stock and security exchanges are absolutely indispensable to our modem economic system. Incorporation of the security act of 1933 and the stock exchange act of 1934 into national law will restore the confidence of the public in the market, he said. Farm Buying Power Off Declines of 3 points in both the farm price index and the purchasing power of farm products was reported today by the bureau of agricultural economics for the month ended Oct. 15. The farm price index on that date stood at 100 and the purchasing power figure at 79. Contrasted with a year ago the former shows an advance of 22 points and the latter a gam of 12 points. Earnings Reach Peak Reflecting profitable operations in l the United States since repeal. Hiram Walker-Gooderham & Worts. Ltd., today reported new peak earnings for the fiscal year ended Aug. 31 For the year the company I showed operating earnings of $4.514.000. which was equivalent to $4 40 on the common shares after all 1 regular charges. A>ks Tobacco Control Predicting reduced stocks of tobacco and betterment in the supply situation next year, the Department 1 of Agriculture crop forecast for 1935. issued today, warned that continued federal control of acreage was necessary to progress in reducing surpluses and increasing prices to growers. It was pointed out in the report that while the total acreage of tobacco in the United States was the lightest since 1921, the average yield an acre was the .highest in eleven years.

Abreast of The Times on Finance

United States Department of Commerce

Am Smelt 35% 34% 35% 35 Anacondt 10% 10 10V 104 Cal & Hecla 24 2% 2% 24 Granby 5% 5'2 5% ... Gt Nor Ore 11 11 11 Int Nickel 23', 22% 22% 22% Kennecott Cop.. 16 4 16% 16% 16% Park Utah 3% 3% 3% 3% Noranda Cop ... 34% 34% 34% 34% Amusements— Croslev Radio .. 12% 12% 12% ... Pox Theater ... 12% 12% 12% 12% Loews Inc 31 30% 31 304 Radio Corp .... 5% 5% 5% 5% Paramount 4 4 4 4Va RKO 1% 1% 1% 1% Warner Bros ... 4% 4% 4% 4% Tobaccos— Am Sum Tob .. 22% 22% 22% 22% Am Tobacco "A" HP, 79% 79% 80 Am Tobacco "B" 81% 81% 81% 81% Gen Cigars .. 54% 54% 54% 53% Lig & Mvcrs 'B' 103 103 103 102% Lorillard 18% 18% 18% 18% Phillip Morris 32% Reynolds Tob B’ 48% 48% 48% 48% Rails— Atchison 53*.a 52% 53 52% B & O 14% 14’, 14% 14% Can Pacific 11% 11% 11% 11% Ch <fc Ohio 42 Chi & Gt W 1% C M & St P ... 2% 2% 2’, ... C M & St P pfd 44 4% 4% 4 Chi N W 5% 5% 5% 5% Chi N W pfd .. 10% 10% 10*2 10% Del Lac & W .. 17% 17 17 17% Grt North pfd . 14% 14% 14% 15 111 Central 16 16 16 15% M K * T 6% 6% 6% 6% N Y Cent 21 20', 20% 20% Nor Pacific 18% 18% 18% 18% Penn R R 224 22% 22% 22% Sou Pac 17% 17% 17% 17% Sou R R 16% 16 16% 16% Union Pac 101 100 100 Equipments— Am Car & Fdy 16% 16% 16% 16 Bald Loco 15% 15% 15% 15% flen Am Tank C 36 36 36 35% Gen Elec 18% 17% 18 18V* Pullman Inc ... 4040 40 39% West Air Br ... 25% 25% 25% 25% Wevingh Elec . 31% 31% 31% 31% Utilities— Am & For Pwr. ss,5 s , 5% 5% 5% AT&T 110% 110% 110% 110% 1 Col Gas & Elec 8% 8% 8% 8 Conn & Sou 1% 1% 1% l*/ Consol Gas . ... 26% 26% 26% 26% Elec Pwr & Lit. 3% 3% 3% 3% Int T & T 9 8% 9 9 Nat Pwr & Lit.. 8 8 8 8 North Amer 13% 13 13 13 Pac G & E 16% 16% 16% 16% Pub Serv N J.. 31% 31% 31% 32 So Cal Edison.. 14% 14% 14% 14 Std Gas 7% 7% 7V 7% Stone <fc Webster 5% 5% 5% 5% United Corp ... 3 s , 3% 3% 3% Un Gas Imp . 13% 13% 13% 13% Western Union.. 34 33’* 34 33% Rubbers— Goodyear 21% 21% 21 % 21% Kelly Spring ... 1% 1% 1% 1% U S Rubber ... 15% 15% 15% 16% Miscellaneous— Allis Chalmers.. 13% 13 13 Amer Can 102% 100 102% 101% Am Mach & Fdy 18% 18% 18% 18% Burroughs Add.. 14% 14% 14% 14 J I Case 48 47% 47% 47 Conti Can 59 58% 58% 58% Caterpillar Tract 32 s , 31 % 32% :y% Crown Cork 24% 24% 24% 24% Deere & Cos ... 19 18% 18% 19% Eastman Kodak 105% 105 s , 105% 105 Gillette 14% 13% 14 13% Glidden 23% 23% 23% 23 Inter Harv .... 33 32% 32% 33 Natl Cash Reg .. 16% 16", 16% 16% Owens Bottle .. 80% 80% 80% 80 Rem Rand ....... 9 9 9 9 Foods— Am Sugar 59% 59% 59% 60 Armour Com .. 5% 5% s’, 5% Armour 6 % pfd .65 65 65 64’, Borden Prod ... 26% 26% 26% 26 Cal Packing 39% 38% 39% 38% Coca Cola 146% 145 145% 144 Corn Prod ... 66 66 66 65% Crm of Wheat. 32% 32 s * 32 s * 32% Gen Baking ... 7 s , 7*, 7% 7*2 Gen Foods 32% 32% 32% 32 *2 Gold Dust 16% 16'* 16% 16% Natl Biscuit 27% 27 27 26% Natl D Prod 16% 16% 16% 16% S Porto Rico Sug 24 s * 24% 24% 24% Std Brands .... 18 s , 18% 18% ... Un Biscuit 23 22% 23 United Friut ... 70 70 70 70*4 Ward Bak B\.. 1% 1% 1% ... Retail Stores— Assd Dry Goods 11% 10% 11 Best & Cos. 37% 36% 37 36% First Natl Stores 62% 62% 62% 62% Gimbel Bros ... 4% 4% 4% 3’, Gr Un Tea .. 5 5 #5 5 Hahn Dept Sts . 6 s’, 6 ss,5 s , 1 Jewel Tea 53 53 53 Kresge S S 18 s , 18% 18% 18% Kroger Groc ... 28’* 28% 28% 28 Macv R H 45'* 44 44% 44 McCrorv St 8% 7’, 8 7% McLellan St .. 9% 9 s , 9% 9’* Marshall Field.. 11% 11% 11% . Mav Dept 5t.... 41 40% 40% 40 Mont Ward .... 28 27 s , 27% 27% Penney J C 66% 66% 66% 66 s * Sears Roebuck . 39% 39% 39% 39% Woolworth .... 50% 50% 50% 50% | Aviation— Aviation Corp.. 3*4 3% 3’* 3% , Boeing Aircft .. 7% 7*, 7% 7% Curtiss Wright . 2% 2% 2% 2% : Curtiss Wri -At 6% 6% 6% 6% i Douglas Air 18% 17% 18 17’, Nor Am Av 3% 3', 3% 3% Spertv Corp ... 8 7 s * 8 7’, U Aircraft -new- 8% 8% 8% 8% Chemicals—

Air Reduction .162% 102% 102% 102% 1 Allied Chem . 128 12R 128 128 Am Com Alcohol 28’* 28'-* 28% 28% Col Carbon 68% 68% 68% .. Com Solvents .. 19% 19% 19% 19*, Dupont 92’, 92% 90% 92% Liquid Carb 21 21 21 Math Alkali ... 25 24’* 24’* 24% Natl Dis 'new)-. 22% 22% 22% 22% Schenlev Dist . 26% 26 26% 25% Tex Gulf Sulph . 36% 36 36 36’* Union Carbide 44 43% 44 44 U S Indu Alcohol 40 38% 39 38', Drugs— Cotr Inc 4 s , 4% 4% 4 s , Lambert 26% 26*, 26% . Lehn & Fink ... 14', 14*, 14', 14% Sterling Prod .. 59 58 % 58% 58% Cn Drug <newi 11% 11% U% u% Financial— Allegheny Corp IN 1% 1% 1% Am Int Corp 6% 6% 6% ... j Lehm.’n Corp... 6% 6% 6% ... Transamenca .. 5% 5% 5% 5% Tr Coatt Corp.. £% 3% 3% 3%

INDIANAPOLIS, MONDAY, NOVEMBER 5, 1934

Building— Am Radiator ... 14% 14% 14% 14% Holland Furnace 6% 6% 6% 6% Johns Manville 49% 49% 49% 49 Libby Owens Gls 24% 24% 24% 24% U S Gypsum ... 39% 39% 39% 40 Household— Col Pal Peet ... 16% 16% 16% 16% Congoleum 30 30 30 29% Kelvinator 15% 15% 15% 15% Proc & Gamble. 40 39% 4040 Servel Inc 6% 6% 6% 6% Simmoi-% Bed .. 9% 9% 9% 9% Textiles— Amer Woolen.. 8% 8% 8% 8% Belding Hem ... 12% 12% 12% 12% Celanese Corp... 28% 28 28 28% Collins Aikman . 11% 11% 11% 11% Chicago Stocks (By Abbott. Proctor & Paine 1 11:00 Prev. A. M. close. Butler Bros. ■ 7% 8 Cities Service 1% 1% Noblitt . ... 13% 13% Public of HI 11% 11 Quaker Oats 129% 129 Swift 18% . Swift Int 37 37% Gen House Util 5% 5%

New York Curb

(By Abbott, Poctor <fc Painel 12 i Noon) Prev. N. Y. close. Am & For Pwr War 3 3 /s 3% Am Cyanide ''B'’ 16 16 Am Gas & El ..... 19% 19% Am Superpower 1% 1% Assd Gas & El 9-16 9-16 Atlas Corp 8% 8% Can Ind Ale "A” B*/ BV* Can Marc 2 2 Cities Serv ...... 1% IVi Commonwealth Ed 41% 41 Consol Gas of Balt 59% 60 Creole Petrol 13 12% Distillers Corp 14% 14% El Bond & Share 9% 9% Fish Rubber 8% 8% Ford of Can “A” 24% 24% Great A & P 127'% 127 Glen Alden Coal 23% 23% Gulf Oil of Pa 54 54% Hiram Walker 27% 27% Humble Oil 40*2 39*a Imperial Oil Ltd 16% 16*2 Hud Bay Min 11% 11’, Int Petrol 30% 30% Lake Shore Min 56% 56 Libbv McN Libby 6% 6% Mt Producers 4 s , 4'/a Natl Belles Hess 2% 2% Nia Hud Pwr 4% 4 Sal Creek Products 6 6 Sherwin Wms 75% 75% Std of Xy 15% 15% Teck Hughes Gold 4% 4% Un Gas 1% 2 Un Pwr & Lt “A" 1% 1% Wright Hargraves Min 9 9

Other Livestock

(By Times Special)

LOUISVILLE, Nov. s.—Cattle—Commercial. 1.700: general market on slaughter classes active: quality of steers and heifer supplv somewhat improved; trading fullv 25c or more higher on these; cows and bulls, strong; Stockers slow, generally steady: bulk common to medium slaughter steers and heifers. $3.75® 4.75: few common down to $3.25: better finished selections mostly ss® 6: top. $6.50 for good 865 and 1.213 pound weights; bulk beef cows. $2.50® 3: good kind and smooth heifer types $3.25®3.50: low cutter and cutters mostly $1.25®2.25; most sales sausage bulls. $2 25® 2.85: odd head best heavy kinds higher, most Hereford stock calves. $4.50® 5; bulk feeding steers. s3® 3.75: calves, commercial. 500: vealer market, weak to 50c lower than Friday and Saturday; bulk better grades. $5.50® 6: strictly choice. $6 50: medium and lower grades. $5 down Hogs—Receipts. 1.000: market, steadv with Saturday or 10c higher than Fridav: top and bulk desirable. 200-250 lbs.. $5.85: 180-195 lbs.. $5 45: 255 lbs. up. $5 40; 160-175 lbs.. $4.85: 140-155 lbs.. $4.30; 120-135 lbs.. $3 35: desirable sows. 450; sheep 500. including 100 stock ewes: supElv light: market generally steady: most etter lambs. $6; few choice. $6.25 and above: bucks out at $1 per twt; discount, light $1 50® 2; most stock ewes salable, S6 50 per head down: receipts Saturday, cattle, commercial. 309: government. 209; calves, commercia4. 160; hogs. 279: sheep. 31.

Retail Coal Prices

The following prices represent quotations from leading Indianapolis coal dealers. A 25-cent carrying charge per ton will be added. DOMESTIC RETAIL PRICES Anthracite *13.00 Brazil Lump f Brazil Mine Run 5.25 Coke. Nut Size 8.90 Coke. Egg Size Indiana Forked Lump No. 4 594 Indiana Forked Lump No. 6 5 84 Indiana Eeg _ 5.71 Kentucky Lump Group * B 7.18 Pocahontas Lump 32 Pocahontas Egg J-JJ Pocahontas Mine Run 7.57 NEW MILL TO BE BUILT Carnegie Steel to Erect Plant in Youngstown District. By Times Special PITTSBURGH. Nov. 5 —The Carnegie Steel Company, subsidiary of the United States Steel Corporation, will erect a continuous hot strip mill In the Youngstown district at a cost of between $5,000,000 and $6,000,000, it was disclosed here today. The contract for the building has been awarded to the United Engineering and Foundry Company.

SWINE VALUES HOLDSTEADY Cattle Market Unchanged to Slightly Higher; Lambs Strong. Only a slight change was evident in hog trading in the week's initial session at the Indianapolis Union Stockyards today. Prices generally were unchanged with a few packing sows slightly higher. Early trading developed slow and supplies were estimated at approximately 6,000. The bulk, 160 to 200 pounds, was selling at $5.20 to $5.50. Heavy grades scaling 200 to 325 pounds, sold at $5.60 to $5.90. The local livestock market will be open for trading tomorrow. Small slaughter pigs, weighing 130 to 160 pounds, were salable from $4 to $4.75, while extremely light lights, scaling 100 to 130 pounds, brought $2.75 to $3.50. Packing sows cashed in at $4.25 to $5.25. Holdovers numbered 162. Steers and heifers remained unchanged in the cattle market, while cows were strong to slightly higher than Saturday’s close. Four loads of good and choice steers sold at $8.75 down. Receipts were 800. Vealers continued steady, salable at $7 down. Receipts numbered 500. Initial strength was displayed in the lamb market, with the majority of grades around 25 cents higher than the previous close. Most classes were salable at $6.50 down. Few better kinds brought $6.75. Bucks were discontinued sl. while throwouts ranged from $3.50 to $4.50. Receipts were 1,000. HOGS Oct. Bulk. Top. Receipts. 30. s4.9o'® 5.15 $5.60 9,000 31. 4.85® 5.20 5.65 7,000 Nov. 1. 5.00® 5.40 5.80 6.000 2. 5.10® 5.50 5.90 4,500 3. 5.20® 5.50 5.90 2,500 5. 5.20® 5.50 5.90 6,000 (140-160 Good* and choice.... $4.50® 5.00 (160-180) Good and choice 5.20® 5.40 (180-200) Good and choice 5.40® 5.60 i2OO-220) Good and choice 5.50® 5.70 i220-250) Good and choice 5.80® 5.90 1250-290) Good and choice 5.75® 5.90 (275-300) Good 5.55® 5.75 Packing sows: (275-350) Good 4.85® 5.25 (350-425) Good 4.85® 5.10 (450-550) Good 4 50® 4.85 (275-550) Medium 4.25® 485 (100-130) Slaughter pigs good and choice 2.65® 3.65 CATTLE —Receips, 800— —Steers—-(sso-900) Choice $7.00® 8.00 Good 5.75® 7.25 Medium 4.00® 5.75 Common 2.50® 4.00 (900-1.100) Choice 7.50® 8.50 Good 6.00® 7.75 Medium 4.25® 6.00 Common 3.00® 4.25 (1.100-1.300) Choice B.oo® 9.00 Good 6.00® 8.25 Medium 4.50® 6.25 (1.300-1.500) Choice 8.50® 9.25 Good 6.50® 8.50 —Heifers—-(sso-750) Choice 6.75® 8.25 Good .... 5.25® 6.75 Common and medium 2.50® 5.25 (750-900) Good and choice .... 5 50® 7.50 Common and medium 2.50® 5.50 —Cows— Good 3 25® 4.25 Common and medium 2.50® 3.25 Low cutter and cutter 1.25® 2.50 —Bulls—(Yearlings Excluded) Good 3.00® 3.55 Common and medium 2.00® 3.00 VEALEBS —Receipts, 500— Good and choice $6 50® < 00 Medium 4 00® 6.50 Cull and common - 2.00® 4.00 —Calve*— (250-500) Good ana choice 4.75® 6.50 Common and medium 2.50® 4.75 —Feeder and Stocker Cattle——Steers— (soo-800) Good and choice 4.00® 9.25 Common and medium 2.75® 4 00 (800-1.0501 Good and choice... 4.00® 5.25 Common and medium 2.75® 4 00 Good and choice 3.00® 4.25 Common and medium 2.50® 3.00 —Cows— Good 2 50® 3.00 Common and medium 2.00® 2.50 SHEEP AND LAMBS —Receipts, 1.000 choice . • $6 25® 6.75 Common and medium 4.00® 625 90-120 lbs., good and choice... 2.00® 350 Sheep—-(l2o-150) Good and choice ... 1.75® 2.25 All weights, common and medium 1.25® 3.00 HUDSON SALES EXPAND DETROIT, Nov. 5. —October sales of Hudson and Terraplane cars totaled 5.300 units, an increase of nearly 1,500. or 33.9 per cent, over :the preceding month, according to 1 figures announced today.

INDIANA SALES 423 MILLIONS AT WHOLESALE Stocks of Merchandise $38,601,000 at End of Last Year. Hy Time* Special WASHINGTON, Nov. s.—At the close of 1933, Indiana had 4,238 wholesale establishments with net sales during the year of $423,678,000. according to results of a census in the state which were made public today by William L. Austin director bureau of the census, depaitment of commerce. These business employed 18,980 men and women on a full-time basis, carried stocks of merchandise at the end of the year amounting to $38,601,070, and reported a total pay roll of $26,398,000, of which $940,000 was paid to part-time employes. Os the total number of wholesale establishments in Indiana, 41.5 per cent were wholesalers proper and 6.4 per cent were manufacturers’ sales branches. Agents and brokers accounted for 4.7 per cent and 47.4 per cent consisted of all other types. Business was distributed as follows; Wholesalers proper, 44.8 per cent; manufacturers’ sales branches, 11.7 per cent; agents and brokers, 18.6 per cent, and all other types, 24.9 per cent. Business Shows Drop While the number of establishments in 1933 was 13.5 per cent greater than in 1929, the volume of business was 54 per cent smaller, which means that the average sales per establishment were considerably lower than in 1929. Operating expenses were higher in each of the four types of wholesale organizations, partly because of reduced dollar volume per establishment and partly on account of the lower prices prevailing in 1933, which necessitated handling of a larger physical volume per dollar of sales. in addition to being classified according to functional type, each establishment also was classified by kind of business, on the basis of the chief line or lines of merchandise in which it dealt. Data are shown by twenty-five major kind of business classifications to which wholesale establishments logically conform. Conducted by CWA Wholesalers proper operated in all of the twenty-five kinds of business, groceries and foods (except farm products accounting for 22.1 per cent of their total volume of business, followed by farm products —consumer goods with 14.7 per cent; tobacco and its products (except leaf) with 7.5 per cent and automotive products, with 6 per cent. The census was conducted by the bureau with funds supplied by the civil works administration. Every city, county and state has been covered collecting data for the year 1933.

Stock Studies

BOHN ALUMINUM $ COMMON STOCX pcs r 1 1 ! p*ce .tMAUf EARNINGS g PRICE RANGE SCALE mm u 130 31 32 33 34j30 31 32 3334 j WINCHESTER institute of finance

The Bohn Aluminum and Brass Company was originally established in 1918. The present corporation, however, is a consolidation of several aluminum and brass foundry companies. Bohn Aluminum specializes in the production of aluminum and brass castings, with the automobile industry its largest customer. Its aluminum pistons, connecting rods, housings and cylinder heads are used, among others, by Ford, Studebaker, Nash, Chrysler and Packard. The company has just developed anew process for the manufacture of aluminum from alunite which, if put on a commercial basis should make the company independent of the Aluminum Company of America. Bohn Aluminum operates eight plants located chiefly in the Detroit area. FINANCIAL DATA 'As of Dec. 31, 1933) Capital stock, 352.418 shares. Funded DeEt $1,411,500 Surpluses 4,814.406 Cash and securities 133,790 Total current assets 5.702,707 Current liabilities 702.130 During 1933 funded debt dropped about $350,000. Cash and securities were about $400,000 less, but inventories increased $1,600,000 and net working capital gained nearly $900,000. Surpluses made a large increase of $3,000,000. Patents, and the like were listed at only $104,000. On Dec. 31, the current ratio was about 8 to 1, while the book value of the common stock was $18.47, a gain of $3.30 during the year. With the exception of 1932 when the deficit was $2.04, Bohn Aluminum has operated at a profit each year. In 1933, $4.24 was earned, and $3.58 for the first nine months of this year. The company has maintained a liberal dividend policy. Due to smaller earnings only 3712 cents was paid* in 1932 and $1 in 1933. This year 52.25 was declared. Bohn Aluminum was incorporated in its present form in 1924 in Michigan. The capital stock is listed on the New York Stock Exchange. It is currently selling at 52 ! i. (All Rights Reserved. Winchester Institute of Finance. Winc.-ester. Mass. HUGE AUTO TAX PAID Motorists’ Levy During 1933 Put at $1,128,262,331. By United Press BOSTON. Nov. s.—United States mootorists paid a $1,128,262,331 automobile tax bill in 1933 equivalent to 28 per cent of the total value of cars on the road. A recent survey shows that the national average motor vehicle tax for 1933 was $47.31 per vehicle, an increase of $3.06 over the 1932 figure.

Bitter Legal Battle Nears in Rail Field Transfer of Service on C. & E. I. Seen Test for Eastman. By United Pres* CHICAGO. Nov. s.—Two stretches of railroad track which link Chi- j cago with the gateway to the winter playgrounds of the old south have become the focal point for one of the bitterest legal controversies in modern railroading. The case may provide the first test of the powers of railroad co-ordinator Joseph B. Eastman. The affected railroads are the New York Central, the Louisville & i Nashville, the Chicago & Eastern Illinois and several affiliated companies. Spurred by visions of increased traffic to the southland this winter, the New York Central and the Louisville & Nashville worked fast. Th*y are allied in the cause against the C. & E. I. The fight, specifically, is proposed transfer of through passenger service from the C. & E. I. to the New York Central from Evansville, Ind., to Chicago. From Evansville southward the trains operate on the L. & N. Injunction Is Asked The latest move by the New York Central and the Louisville & Nashville was to file in federal court a petition asking for a temporary injunction suspending operation of an order by Mr. Eastman prohibiting the transfer of service. Already an injunction has been obtained by the C. & E. I. restraining the other two roads from violating the Eastman order. At the same time the N. Y. C. and the L. & N. asked for a hearing before a three-judge court to contest the constitutionality of Mr. Eastman’s order and naming as defendant the United States. In building up their case the roads declared that “while the coordinator in his report refers to “dire financial straits’’ of the C. & E. 1., he makes no reference to the facts . . . showing the financial straits of the other partners in the Dixie servicp, ... so that his order, directly affecting all the partners in the Dixie service, forbidding an improvement vital to their revenue simply to help the C. & E. I. in its unfortunate difficulties, amounts to a confiscation of their properties and of the taking of their property without due process of law in violation of the fifth amendment of the Constitution. Power Is Disputed The roads also contended Mr. Eastman acted contrary to recommendations made in the case by the three regional co-ordinating committees, and that therefore he “had no power or jurisdiction under the act of congress known as the emergency transportation act.” “The power here sought to be exercised by the federal co-ordinator of railroads is the power of an owner and not the power of the federal government,” the complaint contended. In the arguments that led Mr. Eastman to rule in its favor the C. & E. I. contended the proposed change would result in duplication of services and facilities and inconvenience to throHßh passengers on the C. & E. 1., who would have to change cars at Evansville.

NERVOUSNESS RULES IN PIT GRAIN TRADE Action Reflects Easiness in World Markets. By United Press CHICAGO, Nov. 5. Grain markets on the Board of Trade were nervous and unsettled today, reflecting easiness in other world terminals. Wheat started cent lower to 14 cent higher, corn was off % to \i cent improved, oats were Vs cent lower to U cent higher, rye was up hi cent, and barley was Vs cent lower to M cent higher. Broomhall reported Liverpool was lower but only temporarily affected by easiness in North America. Unfavorable weather in the Argentine came in for some attention. Operators in the local pit evened up their positions for the election holiday tomorrow. WHEAT— 11:00 Prev. High. Low. A. M. close. Dec 98 s , .97% .98% .98% May 96 s , .96 .96 s , .96% July 89% .89% .89% .39% CORN— Dec 77% .76 s , .77 .76*4 May 78% .77% .78 .77% July 79% .76% .77% .79 OATS— Dec 51 % .50% .50% .50% May 48% .48 .48% 48% July 43% .43% .43*, ,43’ RYE— Dec 70 .69% .70 .69’, May 72% .72% .72% .72% July 72% .72% .72% .72% LOCAL CASH MARKET City grain elevators are paying 88 cents for No. 2 son red wheat. Other grades on their merits. Cash corn No. 3 vellow 68 cents, and oats 43 cents STEEL RATE TO RISE Youngstown Operators Foresee Early Recovery. By United Press YOUNGSTOWN, O. Nov. s.—An early recovery in steel mill operations in this district was forecast by mill operators today as repots came in that the automobile industry is expected to step up activities shortly. Operations this week will hold at slightly under 30 per cent of capacity, unchanged from last week, and compared with 30 per cent the corresponding week of 1933, 19 per cent in 1932 and 31 per cent three years ago. RADIO SALES FINANCED By Times Special CINCINNATI, Nov. 5.—A new plan to finance radio sales for Crosley dealers through the Commercial Investment Trust Corporation, was announced today by Powell Crosley Jr. Under the new plan sales can be financed where required*

Latest Stock, Bond and Commodity Quotations

WAY PREPARED TO EXTINGUISH COSACHJEBTS Contract Made for Exchange of Bonds for Liens of New Company. BY HOWARD CARSWELL Times Special Writer NEW YORK, Nov. 5.—A major preliminary step has been taken toward overhauling the capital structure of the Chilean nitrate industry, it was learned today. Indentures have been signed providing for an exchange of 5 per cent unsecured debentures for both prior secured and simple obligations for secured 7 per cent gold bonds of the ill-fated Nitrate Corporation of Chile, popularly known as Cosach. The dissolution of Cosach by Chilean law' has been primarily due to the depression and political complications. Before the development of synthetic nitrates, Chile's great supplies of natural nitrate were a virtual world monopoly. Guggenheims Agree The deal, in which only the Chilean government and private interests identified in the segregated companies formerly constituting Cosach are involved, lelates to prior secured Cosach bonds of £2.726,100 amount issued in Britain and $35,036 000 issued in the United States, In addition there have been outstanding $’0,000,000 par value of secured Cosach bonds, of which $40,000,000 were held by the Chilean treasury and $30,000,000 by private interests. The Guggenhcims are the principal private interests concerned. because of their control of Anglo-Chilean Nitrate and Lautharo Nitrate Cos., Ltd. The foregoing issues have been in default since 1932. Separy.tion Completed Pursuant to anew Chilean law', reorganization of the nitrate industry upon dissolution of Cosach has brought about the following segregation into separate units, with production quotas being given in percentages: Lautaro Nitrate Cos.. Ltd 36% Antofagasta . 31% Anglo-Chilean Nitrate 26% Independents 7% The Chilean Nitrate and lodine Sales Corp., a quasi-governmcntal sales monopoly, was set up. Out of its profits 25 per cent go to the Chilean government and from the remaining 75 per cent of profits the servicing of the bonded debt is to be achieved. Company Gives Security The outstanding prior secured 7 per cent bonds of $2,726,000 and $35,036,000, due 1948, are changed for 5 per cent debentures of equivalent amount of the new Chilean Nitrate and lodine Sales Corp., the sales monopoly. A cumulative 1 per cent provides for amoritization. The debentures are issued as of Dec. 31, 1933, and mature June 30, 1968. Interest and amortization are payable out of 75 per cent of the sales organization’s profits. Os the $70,000,000 secured Cosach bonds, the Chilean government cancels its $40,000,000 amount. The “private interests” involved cancel their remaining $30,000,000 and receive in turn an equal amount of simple contract obligations of the segregated companies who contributed their assets to the defunct Cosach. Glyn, Mills & Cos., British trustees for the sterling prior secured bonds, signed the indenture, as of Wednesday. The American indentures were signed yesterday by Guaranty Trust Company as trustee for the dollar bonds. This operation is believed to presage later reorganization of AngloChilean and Lautaro companies.

WOMAN IS PROMINENT AS GRAIN FORECASTER Mrs. E. H. Miller Widely Known in Financial Circles. By United Press CHICAGO, Nov. 5.—E. H. Miller, known in market circles as the private grain forecaster, whose monthly crop estimates most closely approximate government figures, and as the only combined grain and cotton forecaster in the business, is a woman. She travels thousands of miles each year, edits monthly questionnaires lrom 5,000 informed people, reduces her findings to figures which rival the accuracy of reports divined from a more complicated system employed by government forecasters, and still maintains a happy home for her husband and 2-year-old son. A southern girl, Mrs. Miller was “discovered” in Memphis by a Chicago grain broker. She was transferred here in 1926. VOLUME OF LIVESTOCK SETS PEAK AT CHICAGO October Aggregate of 1,249,254 Head Heaviest Since September, 1933. By Times Special CHICAGO, Nov. 5. —Livestock handled at the Chicago stockyards last month came to 1,249,254 head of cattle, calves, hogs, sheep and horses, compared with 1,089,479 during the preceding month, it was disclosed today. Last month’s aggregate was the largest volume since September, 1933, and the best October in three years. Cattle receipts for the month, which totaled 288,165, were the second heaviest since November, 1926, and the largest October in eight years. BUYS STREAMLINE TRAIN Illinois Central Purchases Unit From Pullman Corporation. The streamline train which the Illinois Central railroad will operate between St. Louis and Chicago has been ordered from the Pullman Car and Manufacturing Corporation, L. A. Downs, president of the road, announced today. The train will be electrically driven by a 1,200-horse power Diesel engine, which is the largest single engine yet designed for train service. There will be five cars with seats lor 150 passengers.