Indianapolis Times, Volume 46, Number 187, Indianapolis, Marion County, 15 December 1934 — Page 12

Trends m m m Highlights of the News During the Last Week.

BY VINCENT 8. LYONS nan Flntnelsl Editor EXTENSION of the National Industrial Recovery Act beyond its expiration date next June or substitution of new legislation to succeed it is urged by the Consumers' Industries Committee. . . . Agriculture must continue to adjust its production to the market if farm income is to remain high, President Roosevelt told the American Farm Bureau Federation. . . . Henry Ford announced that he will spend an additional $8,000,000 on additions and improvements for his River Rouge plant... . The Department of Agriculture estimated this year's cotton crop at 9.731.000 bales, contrasted with 13.047,000 bales last year. .. . While the nation’s total income last year reached anew low since 1915, millionaires increased from 30 to 46, the Bureau of Internal Revenue reported. . . . The Consumers Council of the Agricultural Adjustment Administration voiced the opinion that November represented the high point of food prices and that a gradual decline may be expected from now until April. . . . E. Kirk McKinney, state manager of the Home Owners Loan Corp., discloses that 34,628 loans have been granted in Indiana involving property of $78,832,440. . . . November automobile production in the United States and Canada increased 60 per cent over the corresponding month last year, according to the Automobile Manufacturers Association. Albeit he praised present assistance by the Aministration, William I. Myers, Governor of the Farm Credit Administration, said divorcement of farmer credit from the Government will make for agricultural soundness. a a a EXPANDING consumer needs have lifted steel production to the best level since mid-July, according to the Iron Age. . . . The agricultural adjustment program was backed as an economic democracy aimed at balanced abundance by Henry A. Wallace, Secretary of Agriculture. ... In the first forecast of the 1935 outlook for business and industry. Col. Leonard P. Ayres. Cleveland bank official and economist, painted a rather dismal picture of prospects. . . Reports from Washington said that automobile. steel and textile workers were proposing an amalgamation of interests to combat employer resistance. . . The Standard Gas and Electric Cos. omitted dividends on the $6 and $7 prior preference stocks in order to pave the way for the redunding of the $25,000,000 of 6 per cent notes, which ma ture next October.. .J.F. T. O Connor, Controller of the Currency, gave bankers something to be thankful for with his statement that there will be no wild banking legislation adopted by the next Congress... Gen. Charles G. Dawes, former vice president under Hoover, and now a bank executive, expressed the view that a year of full prosperity will be inaugurated in June or July. . . Production of electric power a week ago reached 1,743,427.000 kilowatt hours, the best level since December of 1930. Alfred P. Sloan, Jr., president of General Motors Corp . urged a longer work week, rather than a short one. a a a SOMETHING new and different in the way of a barometer of business was presented to Indianapolis Thursday when 400 tractors, taking up 47 cars, arrived here from the Chicago office of the International Harvester Cos. . . . Department store sales throughout the country registered an increase of 11 per cent in November over the corresponding month last year, according to the Federal Reserve Board Overseas sales of the General Motors Corp. in the first eleven months gained 81.4 per cent over a year ago. . .James A. Moffett, Federal Housing Administrator, expressed the view that corporations in 1935 will spend $1,000,000,000 for capital improvements.. . John H. Fahey, chairman of the Home Owners’ Loan Corp.. declared the public will not let the agency expire until it is evident that private lenders will carry on . Bank clearings in 22 leading cities during the week ended Dec. 12 increased 15.7 per cent over the same week last year, according to Dun & Bradstreet. Inc... William Green, president of the American Federation of Labor, urges all affiliated unions to press for legislation providing national and state unemployment insurance . Engineering construction awards last week gained 10 per cent over the preceding week and 12.5 per cent over the December average.

TOWNSEND IS ELECTED Equitable Life Man Named President of Insurance Group. J. R. Townsend, agency manager of the Equitable Life of lowa, has been elected president of the Managers and General Agents Assn, of Indianapolis for 1935. Dan W. j Flickinger. current president, announced today. Mr. Flickinger, who is genera! agent of the John Hancock Mutual Life Insurance Cos., also announced the election of William H. Meub. general a?ent of New England Mutual, and Mansur B. Oakes, president of the Insurance Research & Review, as vice-president and sec-retary-treasurer, respectively. PENNSY CREATES WORK PWA Loan Furnishes Employment for 8000 Men. Bjf Spuiat NEW YORK. Dec. 15 —Sue months full time employment for approximately 8000 workers of the Pennsylvania Railroad has been provided with money obtained from the Public Works Administration, it was announced today. Under anew program the sompany will use the PWA funds to construct new freight cars. Approximately 2.835.000 man hours of work will be provided when the program is completed. GOLD OUTPUT DROPS Timm Special LONDON, Dee. 15.—Production of gold from the Rand mines during November amounted to 878.000 fine ounces, compared with 898,000 in the same month of 1933, according to reports. y

PAGE 12

SEN.FLETCHER ASKS HELP FOR SMALL BUSINESS

Citing Gravity of Credit Problem, Says Congress Should Act. BY DANIEL M. KIDNEY Time* Staff Writer WASHINGTON. Dec. 15.—While Secretary Roper’s Business Advisory and Planning Council deferred a scheduled statement of policy on credits for • small industries, conservative Senator Fletcher (D., Fla.), head of the Banking and Currency Committee, today acknowledged the gravity of the problem and said the new Congress should do something about it. A report prepared for the Advisory Council in October showed that the RFC and the Federal Reserve Banks have failed to fill the credit needs or small industries. It recommended that the Government establish intermediate credit banks to provide small industries with long-term credit of as much as two billion dollars. The council was scheduled to act on the report Thursday, but announced after its monthly session that the report was still being checked by the central statistical board. The advisory council, whose membership includes Pierre du Pont, John J. Raskob, Gerard Swope and Winthrop W. Aldrich, is predominantly a voice of big business which was credited with thwarting a small-industries credit bank set-up in the last Congress. Dr. Theodore N. Beckman, economist, who made the report for the council's Small Industries Committee, nevertheless predicted today that his recommendations eventually would be indorsed by the council. While he had not read the Beckman report, Senator Fletcher said the problem of small industries credit is being repeatedly mentioned in answers to his recent questionnaire on banking needs. “While I said the other day we should let present legislation on banking have time to operate without great changes this session, I feel that there may be need of action for the small industries,” he declared. “It may be that legislation is needed to set up a mortgage corporation within the RFC. “At any rate, I think the RFC can be used as the machinery without another separate banking organization.” Dr. Beckman’s report contends that no RFC set-up would suffice.

LIQUOR SALES IN WEST JUMP Utah, Idaho, Montana Are Expecting Record Holiday Trade. By United Press SALT LAKE CITY, Utah, Dec. 15. —Liquor dealers in three intermountain states expect the greatest volume of holiday trade in almost a decade, a United Press survey revealed today. Operating without benefit of legal sanction in Utah and Idaho, and in opposition to a state monoply on sales in Montana, wholesale dealers in the three states are jubiliant over prospect of greatly increased gross sales— and a more intelligent public. “They’re buying good stuff now—not moonshine,” one dealer told the United Press. “And they know what they want.” During the year since almost unanimous repeal “hard liquor” purchasers in northern Rocky Mountain States have developed a highly sensitive taste. “You can't sell them anything now, like it was a couple of years ago,” another dealer said. ’’Then they’d buy anything you offered and be rather glad to get it. “But this year it's different. Most purchases are made by trade name. The nationally advertised brands are the most popular.” As evidence of improved economic conditions in the region, 1 dealers were in agreement that I liquor purchases this holiday season are seldom made by the pur- : chaser doing his buying by price rather than name. Produce Markets Delivered in Indianapolis prices: Heavy hens. 12c: Leghorn nens, 7c: colored springers. 12c: old roosters. sc; ducks. 7c; : geese. 6c: voung guineas. 20c; old guineas. 15c. Turkeys—No. 1 young hens. 8 lbs.. | and over. 15c: voung toms. 14 lbs. and 1 over. 14c: young toms. 11-14 lbs.. 15c; No. ! 2. crooked breasts and thin turkeys. 9c; ; old toms, all weights. 11c; No. 1 strictly fresh country run eggs, loss off. 23c Eeach lull case must weieh 55 lbs. gross; : a deduction at 10c a pound for each pound under 55 lbs. will be made. Butter No. 1. 31®32c. Butterfat —27c. Quoted bv the Wadlev Company (Bv United Press) CHICAGO. Dec. 15—Eggs—Market firm; receipts. 897 cases: extra firsts. 27%c; fresh graded firsts. 27c: current receipts. 23c: dirties. No 1. 19%c: No 3.18 c; checks. No. 1. 17%c: No 2. 16c. Butter— Market, firm; receipts. 5814 tubs; extra firsts >9O-91% scorei. 27%*/27%c; extras •92 score). 28%c: firsts 188-89% scorei. 25%®26%c: seconds (86-87*2 scorei. 24% ■:2sc; specials. 29%®29%c: standards. 27%c. Poultry—Market, steadv: receipts. 1 car. 10 trucks: springers. i3%®14%c; ducks. 13® 16c: geese. 13c: turkevs. 18c: hens 10%® 12%c: Leghorn springers. 10c Cheese—Twins. 13%*/14c: Daisies. 14%® 14*ic; Longhorns. 14%614%c. Potatoes— Supplv moderate, demand and trading slow; market, dull: Wisconsin round whites. 75c: fine qualitv. 85® 90c: Idaho Russets. *1.55; Colorado McClures. *1.90. I Arrivals. 74: on track. 192: shipments. I 57*. CLEVELAND. Dec. 15.—Butter—Market, weak: extras. 32%c; standards. 31c. Eggs —Market, weak:’ extra white. 27c; current receipts. 24c: pullets. 20c. Poultry—Market, steady: fowls colored. 4% lbs. and up. 17c; ducks light. 13c: ducks 5 lbs. and up. 17c; geese heavy fat. 14® 15c; geese ordinary. 13c; turkeys young. 20® 21c; old hens. 16c; old toms. 15c; No. 3 turkeys. 14c Potatoes—Maine. sl6llO a 100-lb. bag: Ohio best mostly 7Sfi*sc: New York. 75®80c a 100-lb. bag. AIRPLANE CONTRACT LET By Times Special WASHINGTON. Dec. 15—A contract calling for 50 pursuit planes, costing approximately $1,996,700, has been awarded the Consolidated Aircraft Corp., of Buffalo, it was announced today by the War Department.

Abreast of The Times on Finance

Utilities Can Cut Rate of TV A With Subsidies, Company Head Declares Federal Project Starting Off With Two Advantages Over Its Private Colleagues Which Bar It as Yardstick, Wendell L. Wilkie Declares. BY S. BURTON HEATH Times Special Writer. NEW YORK, Dec. 15.—Questioning assertions that the Tennessee Valley Authority is establishing a yardstick by which the propriety of electricity prices may be measured, Wendell L. Wilkie, president of the Commonwealth and Southern Corp., said today that in fair competition the Tennessee Electric Power Cos. could give lower rates than the TVA.

“If our company now serving Tennesee could be given the same subsidies which the nation’s taxpayers are giving the TVA,” Mr. Wilkie told the writer in one of his rare interviews, “we could sell current for household and commercial use at a price lower than that set by the TVA without reducing our net income applicable to common stock dividends and surplus.” “Private power companies,” he said, "must build or buy their plants with money borrowed from the public. They must earn enough to pay operating expenses plus interest on what they have borrowed. “The TVA is starting off with two advantages over its private colleagues, both given to it arbitrarily, and both disqualifying it as a yardstick. “First, the taxpayers have put $60,000,000 into the Muscle Shoals hydro plant. The plant is worth that amount. The Alabama Power Cos. hals offered to pay 4 per cent a year, or $2,400,000, for the plant’s power output. But Chairman Morgan told the House Committee on Appropriations that the TVA will value this plant, in computing rates, at only $20,000,000 —a write-down of two-thirds. “The Federal Government has offered to give outright, to municipalities wishing to transmit and distribute TVA power, 30 per cent of the cost of the facilities they must build, which permits them to compute rates with a 30 per cent write-down on these costs. “The two-thirds write-down in the cost of generation facilities at Muscle Shoals plant, and the 30 per cent write-down in the cost of transmission and distribution systems, are an outright gift by the taxpayers of the entire country to the electricity users of the Tennessee Valley. “A public venture subsidized nearly 50 per cent by the taxpayers through direct money gift, and half that through relief from taxation, can’t be any honest measure of how much should be charged by private companies who have no subsidy and no tax relief,” Mr. Willkie summarized. “To call it such is unfair alike to the private companies and to the taxpayers who provide the subsidy and pay the taxes the TVA will escape.”

SEARS CREATES NEW SUBSIDIARY COMPANY Purpose Is to Find Foreign Markets For Products, Officials Say. By Times Special CHICAGO, Dec. 15.—Incorporation of anew subsidiary for foreign trade has been anounced by Sears, Roebuck & Cos. The new unit is known as Sears International Inc., and will be headed by George F. Dixon, formerly with the General Motors Corp., it was learned today. The purpose of the new company is to find foreign markets for Sears manufactured goods, the announcement stated. Officials refused to give out further details of the company's plans. The refusal of officials to discuss the matter further was attributed to the fact that the new unit will start operations on a modest scale and will probably not be expanded unless it is found feasible to do so. On Commission Row Quotations below are average wholesale prices being offered to buyers by local commission dealers. Fruits—Cranberries, Cape Cod. late Howes, 25-lb. box. $5.75. Grapes, California Emperors. 27-lb. box, $2.40. Persimmons. California. 20s, $1.25. Quinces bushel. $3. Bananas, 4V2C a lb. Apples, Indiana Jonathans. $1.85; Grimes Golden, $1.35 81.75. Melons, California Honey Dews. $2 75. Lemons, Sunkist, 3605. $5.50; 4325, $5.50. Grapefruit, Texas, seedless. $3. Limes. Mexican, per carton. 12s, 25c; Byram. seedless per hundred, $3. California rhubarb. $1.40 a box. Pears. Oregon D'anjo box $3.50. Pineapples, 24-30s. $4.50; 365. $3.50: 425. $2.50. Vegetables—Cabbage, Northern Danish. 50-lb. bag. 65c; red. 50-lb. bag. 90c. New Cabbage in crates. $282.25. Onions, Idaho, sweet. Spanish, large 50-lb., $1.50; Michigan yellow, med., 10-lb. bag, 23c; western white, 50-lb. bag, $1.85: Michigan. yellow. $1.35. Potatoes. Green Mountains. 100-lb. bag. $1.50: northern round white. 100-lb. bag. $1: Ohios. 100-lb. bag, $2; Idaho Russets. 100-lb. bag, s2.New potatoes, [email protected]. Sweet potatoes, Indiana Jerseys. bushel, $1 85; Tennessee Nancy Halls. bushel. $1.40. Beans, flat stringless, hamper, $4.50@ 4.75. Celerv. Michigan, medium, dozen. 50c: Jumbo, dozen. 75c: hearts: bunch, sl. Cucumbers dor., 90c. southern, bushel, $3 75. Endive, dozen. 50c. Egg plant, $2 dozen. Kale, Virginia, bushel, 75c. Lettuce, hothouse. 15-lb. basket. 65c. California Iceberg head lettuce. $4.50. Mangos. Florida, crate. $3. Mint, bunch, 15c. Parsley, dczen. 35c. Peas hampers, S4B 4.75. Spinach, home-grown, broadleaf. bushel. sl. Radishes, dozen. 7oc. Tomatoes, hothouse. 8-lb. basket $1.35. Turnips home-grown. dozen 25c. Pumpkins, dozen. sl. MISCELLANEOUS—Cocoanuts, Jamaica. 25 for $1.50. Ovsters. standards, gallon. *1.50: selects gallon. *1.85. Chestnuts Italian a pound. 12tjc Sorghum molasses gallon. 65c. Black walnuts. 50-ib. bag. *l. Cider. 4 gallons to case $2. Half-gallons. 6 to case. $1.75; quarts. 12 to case. $1.90. All Quotations subject to change, up or down. Other Livestock (By United Press* CHICAGO. Dec 15 Hogs Receipts, 16 000. including 15.000 directs; holdovers. 2000; about steady; top $6 10. compared with $6 30 week ago. Cattle—Rejects, 500; calves, receipt*. 500: compared Friday Inst week; better grade fed steers ana heifers and yearlings, 25®*0e higher but lower grades predominated in run: top, *lO 10 on 1197-lb averages; yearlings, *9.50; vealers. slßl 50 lower. Sheep— Receipts. 3000: for the week ended Friday. It doubles from feeding stations; compared Friday last week: slaughter lambs around 358 65c lower; sheep strong to 25c higher; feeding lambs. 25850 c off: week's top slaughter lambs. $7 75. late top $7.35: clipped lambs scarce: yearlings. $5,758 6 50; top daughter ewe*. $2.2583; top

INDIANAPOLIS, SATURDAY, DECEMBER 15, 1934

SWINE VALUES RISEISCENTS Customary Light Saturday Trading Prevails; Nb Test in Sheep. The usual Saturday light trading in the hog market prevailed at the Union Stockyards this morning, with prices recovering from yesterday’s downtrend. The majority of classes was approximately 15 cents higher. Receipts were estimated at 2,000, compared with 10,000 yesterday and 4,000 a week ago. The bulk, 160 to 200 pounds, was selling at $5.50 to $5.80, with the heavier grades, 200 to 350 pounds, bringing $5.90 to $6.15. Top price on a few choice kinds was $6.20. Holdovers totaled 189. Smaller grades, 130 to 160 pounds, were salable at $3.95 to $4.85. Extremely lightweight pigs, scaling 100 to 130 pounds, were bringing $2.70 to $3.70. Packing sows were quieter at $5 to $5.75. The week-end trading in cattle was, as usual, slow. Receipts fell to 100 today, with the slaughter class market nominally steady. Vealer receipts also numbered 100, with prices steady at $7 down. Extremely dull trading brought no test in the sheep market. Receipts there totaled 100. HOGS Dec. Bulk. Top. Receipts. 10. $5.30® 5.70 $6.05 12,000 11. 5.40(1? 5.70 6.05 9,000 12. 5.504/ 5.80 6.20 9,000 13. 5.45® 5.75 6.15 12,000 14. 5.35® 5.65 6.05 10,000 15. 5.50® 5.80 6.20 2,000 (140-160) Good and choice.. . $4.45® 5.15 (160-18 C) Good and choice 5.50® 5.70 (150-200) Good and choice 5.70® 5.90 (200-220) Good and choice 5.90® 6.05 (220-250) Good and choice ... 6.05@ 6.20 (250-2901 Good and choice 6.10® 6.20 (200-350) Good and choice 5.90® 6.10 (275-350) Good 5.35® 5.75 Packing sows: (350-425) Good 5.15® 5.50 (275-550) Good 5.00® 5.25 275-550) Medium 4.75® 5,25 (100-130) Slaughter pigs good * and choice 2.70@ 3.75 CATTLE —Receipts, 100 — —Steers—-(sso-900) Choice $7.00® 8.00 Good 6.00® 7.50 Medium 4.00® 6.00 Common .4.. 2.50® 4.00 (900-1100) Choice 7.75® 8.75 Good 6.25® 7.75 Medium 4.25® 6.25 Common 3.00® 4.25 (1100-1300) Choice 8.50® 9.75 Good 6.25® 8.50 Medium 4.50® 6.25 (1300-1500) Choice 8.75® 9.75 Good 6.50® 8.75 —Heifers—-(sso-750) Choice 6.50® 7.00 Good 5.00® 6.50 Common and medium 2.50® 5.00 (750-900) Good and choice 5.25® 7.50 Common and medium 2.50® 5.25 —Cows— Good 3.00@ 3.00 Common and medium 2.00® 3.00 Low cutter and cutter 1.25® 2.25 —Bulls—(.Yearlings Excluded) Good 2.85® 3.50 Common and medium 1.25® 2.00 VEALERS —Receipts, 100— Good and choice $6.00® 7.00 Medium 4.00® 6.00 Cull and common 2.00® 4.00 (250-500) Good and choice .... 4.75® 5.50 Common and medium 2.50® 4.75 —Feeder and Stocker Cattle——Steers— (soo-800) Good and choice.... 4.00® 5.00 Common and medium 2.50® 4.00 (SIOO-1050) Good and choice ... 4.00® 5.25 Common and medium 2.75® 4.00 Good and choice 3.00® 4.25 Comon and medium 2.50® 3.00 —Cows— Good 2.50® 3.00 Common and medium 2.00® 2.50 SHEEP AND LAMBS —Receipts, 100— Lambs, 90-lbs. down, good and choice .•$ 6.75(3 7.25 Common and medium 4.50@ 6.75 90-120 lbs., good and choice-.. 2.50® 3.00 Sheep—-(l2o-150) Good and choice... 2.00® 2.75 All weights, common and medium 1.25® 2.50 Other Livestock (By United Press) FT WAYNE, Dec. 15.—Hogs—5c to 15c higher: 250-300 lbs. $6.05: 225-250 lbs $5.85; 200-225 lbs.. $5.75: 180-200 lbs.. $5.55; 160-180 lbs.. $5.30: 300-350 lbs.. $5.65: 150160 lbs.. $4.50: 140-150 lbs. $4 25; 130-140 lbs.. $3.95; 120-130 lbs.. $3.45; 100-120 lbs $2.95: roughs. $5; stags. $3. Calves. $7: lambs Js7. LAFAYETTE Dec. 15.—Hogs—15c higher: 250-300 lbs . $6.05® 6.lo: 300-325 lbs., $5 90: 200-250 lbs.. $5.85®5.95; 180-200 lbs.. 55.55®5.65: 160-180 lbs.. $5.35®5.4: pigs. $4.7 down: roughs. $5.50 down: calves steady. $6 down; lambs steady. $6.50 down. (Bv Times Special) LOUISVILLE. Dec. 15. —Cattle —Commercial. 50; Saturday’s market nominal compared week ago: most slaughter classes fully 25®50c lower; most loss on cows and plainer grade steers and heifers, closing trade very dull: week s bulk common to medium steers and heifers s3.2a® 4.75: better finished kinds mostly $5®6.50: week’s top. $7 for good 1324-lb. steers: beef cows quotable mostly $2f?2.75. good kinds eligible higher, most late sales lowcutters and cutters. Sl® 1.75: sausage bulls quotable mostly *2 25® 2Tj: plainer grade stockers mostly $2.25®3.75. best Hereford and Angus stock calves eligible around $5. Calves—Commercial, $3.50. including 110 stock calves; Saturday-s vealer market steadv. bulk better grades so® 5 50: strictlv choice. $6: medium and lower grades $4.50 do*n: market mostly $1 lower for week. Hogs—Receipts. 250: market not fully established: most bids and few sales steadv: some interests asking 10c higher; bidding $5 90 for better 230-300 lbs : 200225 lbs. bid. $5.75: 305 lbs . $5 45; 180-195 lbs $5 15: 160-175 lbs., $4 45: 140-155 lbs.. *3 9; 120-13 lbs.. *3 25. Sows. 419: sheep. 25 Saturday's market nominal and unchanged for week; closing bulk medium to good 8 lambs. $5 75®6.25: choice eligible higher: common light throwouta. $4. better fat ewes. $1.50®2 Receipts Friday: Cattle, commercial 11. government 560: calves, commercial 253. government Ll; hogs. 703: sheep U. Shipments Friday: Cattie commercial 62; calves, commercial 110; hogs. 161 sheep. 112. Daily Price Index (By United Press) NEW YORK. Dec. 15—Dun & Braa ; street’s daily weighted price index of JO basic commodities compiled for the United Press (1930-1933 average.loo': —Today, 119.87 Yesterday 119.63:Year ago 98.76 Week ago .....130 59) 1934 high 130.9 ft Month ago ...117.451934 low 101.06 (Copy right. 1934. Dun At Brads tree*. Incj

WHEAT CLOSES LOWER; CORN, OATS TAKE DIP

Chicago Market Fluctuates Eratically as All Classes Drop. BY HARMAN W. NICHOLS United Press Staff Correspondent CHICAGO, Dec. 15. —Grain markets fluctuated erratically on the Chicago Board of Trade today. Wheat finished *4 to a cent lower. December 100 %; com was down % ; to % cent, December 91 %, and oats \ were % to % cent lower, December 56% cents. An early dip in wheat was followed by a rally, but profit-taking minimized the advance. Local sentiment was mixed during the day and toward the last there was mor eor les sevening up of positions over the week-end. Foreign wheat markets were somewhat unsettled with Liverpool unchanged to % cent higher and Rotterdam % cent lower to % cent higher. Buenos Aires advanced. Local buying was on in corn early an dthere was also buying of that grain to close spreads with lard. Commission house selling toward the last cut down the advance. Oats acted tight and moved within fractional limits. Lard futures were decidedly unsettled. (By James E. Bennett & Cos.) 11:00 Prev. Wheat— High. Low. A. M. close. Dec. (new).. 1.01% 1.00% 1.01 1.01 May 1.02% 1.01% 1.02 1.01% July 96% .95% .95% .95% Corn— Dec. (new)... .93% .92% .92% ,92V 2 May 89% .89% .89% .89% July 87% .86% .86% .86% Oats— Dec. (new) 57% .57 .57 .57% May 54% .53% .53% .53% July 49% .49% .49% .49% Rye— Dec. (new) 81% .80% .80% .80% May 79% .78% .78% .78% July 78% .77% .77% .77% CHICAGO PRIMARY RECEIPTS —Bushels— Today. Last week. Wheat 290,000 311,000 Corn 445,000 438,000 Oats 79,000 92,000 LOCAL CASH MARKET City grain elevators are paying 92 cents for No. 2 soft rert wheat, other grades on their merits. Cash corn No. 3 yellow 85 cents and oats 51 cents. Commodity Prices 1,1 ' " (By Fenner & Beanei 1 NEW YORK COTTON Prev. High. Low. Close, close. January 12.60 12.47 12.52 B 12.54 March 12.68 12.57 12.60 12.60 Mav 12.66 12.57 12.59 B 12.57 July 12.65 12.59 12.59 B 12.56 October 12.54 12.43 12.47 12.45 December ... 12.61 12.52 12.53 12.53 Spot, steady, unchanged; middlings 12.80. NEW ORLEANS COTTON Prev. High. Low. Close, close. March 12.68 32.57 12.57 12.62 May 12.70 12.58 12.58 12.63 July 12.69 12.59 12.59 12.61 October 12.56 12.42 12.42 12.44 December 12.53 12.53 12.47N 12.58 Spot, steady: 5 lower: middlings 12.77. NEW YORK COTTONSEED OIL Prev. High. Low. Close, close. December ••• *9.85 9.75 January ■• - *10.04 9.88 March 10.10 10.06 10.10 9.99 May 10.19 10.13 *lO.lB 10.09 July 10.31 10.27 10.31 10.16 •—Bid. BUTTER Prev. High. Low. Close, close. December 27% .27% .27% .27 January 27% .27% .27% .27 February 27% .27% .27% .27% EGGS Prev. High. Low. Close, close. December 19% .19% ,19 7 /e .19% January 19% .19% .19% .19% SUGAR \ Prev. High. Low. Close, close. March 1.83 1.80 1.81 B 1.79 Mav* 1.86 1.84 1.85 B 1.86 July 1.90 1.89 1.89 B 1.90 October 1.90 1.89 1.87 B 1.90 Retail Coal Prices The following prices represent quotations from leading Indianapolis coal dealers. A 25-cent carrying charge oer ton will be added. - DOMESTIC RETAIL PRICES Anthracite *13.00 Brazil Lump 6*4 Brazil Mine Run 5.25 Coke. Nut Size 8.90 Coke, Egg Size •••••• §.90 Indiana Forked Lump No. 4 0.94 Indiana Forked Lump No 6 5.84 Kentucky Lump Group •’B" 7.18 Indiana Egg •]* Pocahontas Egg 3-42 Pocahontas Lump 8.32 Hides and Skins (By E. Rauh & Sons Cos. ) Hides—Green country cows and steers, 3%c flat; Green country bulls and glues, 2c flat; Green country calf hides, 4%c flat; Green country kip, 3%c. No. 1 large horse hides with full heads, shanks, maned and tails. $2.50; medium size, $2. All No. 2 grade horse hides, 50c less; glues .and ponies half price. No. 1 rendered tallow, 4@4%c; No. 2 at value. Yellow grease, 3®3%c: grease. 2%®3c. PURCHASING POWER OF DOLLAR UP IN STOCKS Substantial Advance Registered During November. By Times Special NEW YORK, Dec. 15.—The purchasing power of the dollar invested in common stocks showed a substantial advance in November, according to the monthly analysis of Administrative and Research Corp., while the purchasing power of the dollar held in cash receded further. The buying power of the dollar invested in bonds also increased slightly. Wholesale commodities, as measured by the Bureau of Labor’s wholesale commodity index, stood at 76.5 on Dec. 1, compared with 76 at the beginning of November and 70.8 on Dec. 30, 1933. Thus the purchasing power of the dollar held in cash fell 7.5 per cent over the 11 months’ period ending in November, against 6.8 per cent over the 10 months’ period ending in October. CONSTRUCTION AWARDS GAIN By Times Special NEW YORK, Dec. 15.—Engineering construction awards during the current week totaled $28,858,000, according to reports to Engineering News-Record, an increase of 10 per cent over last week and 12% per cent over the average week in December last year. CROP VALUES SOAR By Times Special OTTAWA, Dec. 15.—Total value of field crops in Canada for 1934 is estimated at $536,498,600, the largest since 1930, according to the crop report by the Dominion Bureau of Statistics.

New York Stocks

Sales today approximated 460,000 shares, the same as last Saturday. Dow Jones preliminary closing averages showed industrials 100.84, up 0.15; railroads 36.36, up 0.01; utilities 18.01, up 0.07. (By Thomson St McKinnon) Prev. High Low Close Close Oils— Amerada 47 47 47 46% Atl Rfg 23% 23% 23% 23% Barnsdall 6% 6 6 6% Consol Oil 7% 7% 7% 7% Corn of Del ... 17% 17% 17S 17% Houston (new).. 2Jt 2% 2% 3 Mid Cont Pet... 11% 11% Ills 11% Ohio Oil 9% 9% 9% 9% Pet Corn 8% B'* 8% 9 Phillips Pet ... 14% 14% 14% 14% Plymouth 0i1... 8% 8% 8% 8% Pure Oil 6% 6% 6% 6% Seaboard Oil ... 24% 24% 24% 24:* Shell Un 6% 6% 6% 6% Soc Vac 14% 14% ■ 14% 14% SO of Cal 30% 30% 30% 30% SO of Ind 25% 25 25. 25% SOof N J 41 40% 40% 40S Texas Corp 20 19% 19% 20 Tidewater Assn 8% 8% 8% 8% Un Oil of Cal . 15% 15% 15% 15% Steels— Am Roll Mills . 20% 20 20% 20 Beth Steel 30 29% 30 20% Cruc Steel 22 21% 22 21% Inland Steel ... 46% 46% 46% 45% Ludlum Steel ... 14% 14% 14% 14% McKeesport Tin. 89 88% 88% 89 Natl Steel 44% 44% 44% 44 Otil Steel 5% 5 5 5% Rep Iron & St-. 13% 13% 13% 13% Rep I& S pfd 41 41 41 40 U S Pipe St Fdv 20 20 20 20 U S Steel ... 38 37% 38 37% U S Steel pfd . 82% 82 82 82% W'arren Bros . 3% 3% 3% 3 Youngtn S& T . 18% 18% 18% 18% Motors— Auburn 25% 25% 25% 25% Chrysler 38% 37% 38% 38 Gen Motors .... 31% 30% 31% 31 Graham Mot .. 2% 2% 2% 2 Hudson 11% 11 11% 10% Hupp 2% 2% 2% 2% Nash 18 17% 17% 17% Packard 4% 4% 4% 4% Reo 2% 2% 2% 2%’ Studebak.-r 2 1% 1% 2 Motor Access— Bendix 16 16 .16 15% Borg Warner .. 28% 28 28% 27% Briggs 25 24% 25 24% Budd Mfg 5 5 5 5*4 Budd Wheel .... 3% 3% 3% 3% Eaton Mfg 17% 17 17 17% Elec Auto Lite... 26 25% 25% 25% Elec Stor Bat ... 46 46 46 46 Houdaille (A).. 7% 7% 7% 7% Mullins Mfg ... 10% 9% 10% 9% Murray Body ... 6% 6% 6% 6% Stew Warner .. 8% 8% 8% 8% Timken Roll ... 33 32% 33 32% Timken Det Axle 6% 8% 6% 6% Mining— Alaska Jun 19 18% 18% 19 Amer Metals .... 15 14% 14% 15 Am Smelt 36% 36% 36% 36% Anaconda 11 Vs 10% 11 Vs 10% C’erro de Pasco.. 43 42 43 41% Dome Mines 39 38% 38% 38% Granby 7 7 7 7 Gt Nor Ore .... 11% 11% 11% 11% Howe Sound ... 51 % 50% 51% 50 Ins Copper .... 2% 2% 2% ... Int Nickel 22% 22% 22% 22% Kennecott Cop.. 17 16% 17 16% Mclntyre Mine. 42% 41% 42% 42 Phelps Dodge .. 15 14% 15 14% St Joe Lead .... 16% 16% 16% 16% U S Smelters .. 125% 124% 125% 125 V, Vanadium 18% 18% 18% 18% Amusements— Fox Theat 13 13 13 13% Loews Inc 35% 35 35% 35 Radio Corp .... 5% 4% 5 5% Paramount .... 3% 3% 3% 3% RKO 2% 2% 2 % 2 Warner Bros ... 4% 4% 4% 4% Tobaccos— Am Snuff 67 67 67 66% Am Sum Tob ..22 22 22 21% Am Tobacco “A" 80% 80% 80% 80 Am Tobacco “B” 83% 82% 83% 82% Gen Cigars . . 56% 56% 56% 56% Lig & Myers ‘8’.102% 101% 101% 103% Lorillard 20% 19% 20 Phillip Morris 47% 44% 47% . 44 Reynolds Tob ‘B’ 51% 51 51% 51% Rails— Atchison 53% 53% 53% 53% Atl Coast Lines. 35 35 35 34% B & O 14% 14% 14% 14% Can Pacific 11% 11% 11% 11% Ch & Ohio 44 43% 43% 43% Chi & Gt W pfd 4 4 4 C M & St P pfd 3 7 /s 3% 3 7 /s 4 Chi N W 4% 4% 4% 4% Chi NW pfd ... 9% 9% 9% 9% Dela & Hud ... 43 42% 42% 42% Del Lac & W .. 18% 18% 18% 18% Grt Northern p 17Vs 17 17 16% 111 Central 16% 16% 16% 17 Lehigh Valley .. 10% 10 10 10% MK&T6 6 6 6% MK & T pfd.. 13% 13% 13% 14 Mo Pac 1% 1% 1% 1% ( Mc Pac pfd... 2% 2% 2% 2% ;N Y Cent 21% 21% 21% 21% N Y New Haven 7% 7% 7% 7% Nor Pacific 20% 20 20 20 Pen R R 24% 24 24% 24 Reading 42% 42% 42% 42 Sou Pac 17% 17% 17% 17% Sou R R 16% 16 16 16 Union Pac 106 105% 106 106 Equipments— Am Brake Shoe.. 23% 23% 23% Am Car & Fdy. 17% 17*/ 4 17% 17 Am Loco 17% 17% 17% 17% Am Steel Fdy.. 17 16% 16% 16% Bald Loco 5% 5% 5% 5Vs Gen Am Tk Car 37 37 37 37 Gen Elec 19% 19% 19% 19% Gen R R Sig 27 26% 27 27% Pullman Inc ... 46% 46% 46% 46% West Air Brake.. 24% 23% 24% 24 Westingh Elec... 33% 33Vi 33% 33% Utilities— Am & For Pwr.. 4% 4% 4% 4% Am Pwr & Lit.. 3% 3% 3% 3% AT&T 105% 105 V* -05% 105% Am Wat Wks .. 14% 14 14% 14% Col Gas & Elec.. 7%- 7% 7% 7% Conn & Sou 1% IV* l'/s lVs Consol Gas 22% 22Vs 22V* 22% Elec Pwr & Lit . 33 33 Int Hydro Elec 2% 2% 2% . 2% Interboro R T . 16% 16% 16% 16% Int T & T 8% 8% 8% 8% Lou G& E “A”. 12% 12% 12% 12% Nat Pwr & Lit.. 7 7 7 7% North Amer ... 12% 12% 12*4 12% Pac G& E 14% 14% 14% 14% Peoples Gas ... 20% 19% 20% 20% Pub Serv NJ .. 30% 30 30 30 So Cal Edison.. 11*4 11*4 11% 11*4 Std Gas 5 5 5 5 Stone & Webster 4% 4% 4% 4% United Corp ... 32% 32% Un Gas Imp ... 12% 12% 12% 12*4 Ut Pwr & Lit ‘A’ 1% 1% 1% 2 Western Union.. 33% 33*4 33% 33*4 Rubbers— Goodrich 10% 10*4 10*4 10% Goodyear 24% 23% 24% 23% Kelly Spring ... I*4 I*4 1% 1% U S Rubber 15*4 15% 15*4 16% U S Rubber pfd. 41*4 41 41% 41)4 Miscellaneous— Allis Chalmers 14% 14% 14% 14% Am Can 106% 105% 106% 105% Am Mach & Fdy 21% 21*4 21% 21*4 Anchor Cap .18 18 18 18 Brklyn Man Tr 42% 41% 41% 41*4 Burroughs Add 15*4 15V 15*4 15*4 J 1 Case 52% 51% 52% 51% Conti Can 60*4 59% 60*4 60 Caterpillar Tract 34% 34% 34% 34*4 CTOwn Cork 24*4 24 24V* 24% Curtis Pub 21% 21% 21*4 21 Curtis Pub pfd.. 95 95 95 95 Deere &Cos 25 24% 25 24% Eastman Kodak. 109% 108% 108% 110% Gillette 13% 13* 2 13% 13% Glidden 26% 26% 26% 26% Ongersoll Rand 63% 63% 63% 63 Ir.t Bus Mach.. 160% 159% 160 161% Inter Harv 38% 38*4 38% 38V* Kresge SS 20*4 20% 20*4 20% Kroger Groc .. 28% 28% 28% 28% McCrory St .... 9% 9V 9% 9 McLellan St 16% 16 18 *4 16*4 Marshall Field. 10*4 10% 10% 11 Mont Ward 28% 28% 28% 28% U. S. Bonds NEW YORK. Dec. 15.—Closing United States Government Bonds: Decimals represent thirty-seconds). I inFRIT 3%s (32-47) 103 21 103 21 Ist 4*4s (32147) 103 17 103.19 4th 4%s (33-38) 103 22 103 22 TREASURY 4*4s 3*is (45) 102.20 102.19 3*4s (43-47) 103.21 103 25 3%s (40-43. June 104,8 104 9 3%s (41) 104.11 104 12 3 V*S (46-49) 101.15 101.13 3s (51-55) 100.14 100 14 3s (46-481 100.18 100.16 New York Bonds tßv Fenner St Beane) Prev. dost dose Am & For Power 5s 2030 53V* 53 A T St T db 5s 65 11l 110% Atchison Gen 4s 95 197 106% B St O conv 4%s 80 55 55% Can Pac 4s ’57 85 % 85 C St O 5s 39 110% 110% Ch M St P St P adj 5s A 2000 6 *% Ch MStPStP rs 5s A ’75.... 21% 21% Denmark 5%s ’55 99% 99,. Erie RRfrss ’67 72 71% Goodyear 5s ’57 103% 103% Gt Nor 5s A *36 90 % 90% Interboro RT 5a ’6B •*% 84% Int T&Tdb 5s 55 63% 63% McKesson St Robbison 5%s ’SO 93% 93% Nat Dairv db 5%s 48 102% 102% N Y Central 5s O 2013 66 65% Nor Am 5s ’6l 85% 85% Pac Gas *Els* A ’43 106% 106 Para Pub 5%a 'SO 64 % 64% Poland 7s ’47 115% llft% Royal Dutch 4s A '45 133% 133 Shell Union Ot 5s '52 ..103% 103% Sinclair Corp 5s '44 103% 103% Texas Corp 5s '44 103 102% TobPrN J 6%a 3022 106% 10 V Un Pac Ist 4s '47 108% 108 U S Rubber 5s 'sl 91 90% Western Union 5s .. •. - 85 85 Youngstown 8 8s T B ’7O ... M 09%

Penney J C ... 72% 72V, 72% 73% Sears Roebuck . 40‘* 39% 39% 39% Woolworth 51% 51 51% 51% Aviation— Aviation Corp . 5% 5% 5% 5% Boeing Aircraft 10 9% 10 9% Curtiss Wrisht 7% 2% 2% 3 Curtiss Wright A 9 8% 9 8% Douglas Air 23% 2$ 23% 23% Nor Am Av 3% 3% 3% 3% Sperry Corp ... 8% 8% 8% 8% United Aire new 14% 14 14% 14 Chemicals— Air Reduction 110% 109% 109% 109% Am Com Alcohol 31% 31 % 31% 31% Com Solvents-.. 21 20% 21 20% Dupont 93% 92 1 a 92% 03% Freeport Tex. .. 24% 24 24% 24% Liquid C3rb 28% 28 28 % 27% Math Alkali .... 28% 27% 28% 28 Natl Dls new 27% 26% 27'* 26% Scheniev Dist 25 % 25 25 25 Tex Gulf Sulph 33% 33% 33 % 33% Union Carbide 45 44% 45 45 % U S Indus AlCOh 44 43% 44 43% Drug*— Bristol Myers .32% 32% 32% 32% Cotv Inc 6 6 6 6 Lambert 28% 28 28 28% Un Drug (newt 12% 12% 12% 13 Vick Chem 33% 33% 33% 33% Zonite Prod ... 4% 4% 4% 4% Financial— Adams Exp 7 6% 7 6% Allegheny Corp I s * 1% 1% 1% Lehman Corp .. 71% 70% 70% 71 Transamerica ... ss*5 s * 5% 5% 5% Tr Conti Corp. 3% 3% 3% 3% Building— Am Radiator ... 15* 14% 15 15 Gen Asphalt ... 15% 15% 15% 15% Holland Furance 9 9 9 8% Johns ManvUle 51% 51 *2 51 % 51% Libbv Owens Gls 27 % 27 % 27% 27 U S Gypsum ... 47% 47% 47% 47% Household— Col Pal Peet ... 17% 17 17 17% Congoleum . . 33 32% 32% 32% Kelvlnator . 15% 15% 15% 16% Proc & Gamble 42% 42% 42% 42% Seri'el Inc ... 7 6% 7 Simmons Bed .. 10% 10% 10% 10*-* Textiles— Amer Woolen ... 9% 8% 8% 8% Belding Hem ... 11% 11% 11% 12 Calenese Corp .. 31% 31 31% 31 % Gotham Hose .. 5 5 5 5% Indus Rayon .. 30% 30 30% 30 Real Silk 6% 6% 6% Natl Cash Reg-. 17 17 17 17% Rem Rand .... 10 9 7 /* 9% 9% Foods— Am Sugar 65% 65 65% 65% Armour Com ... 5% 5% 5% 5% Armour 6% pfd 67% 67% 67% 67 Beatrice Cream’y 16% 16% 16% 16% Borden Prod ... 23% 23% 23 7 /* 24 Cal Packing ... 36 36 36 36 Can Dry G Ale.. 15% 15% 15% 15% Coca Cola 159 159 159 159 Corn Prod 64% 64 64 64% Crm of Wheat . 35% 35% 35% 35% Cuban Am Sugar 5%- 5% 5% 5% Gen Baking 7% 7V* 7% 7% Gen Foods 34% 34% 34% 34% Gold Dust 17*2 17% 17% 17% G W Sugar 28% 28% 28V* 28% Int Salt 30 30 30 30 V* Natl Biscuit 28 27% 27% 27% Natl D Prod 16% 16% 16% 16% Purity Bak • ... 10% 10% 10% 10% S Porto Rico Sug 22% 22% 22% 22% Std Brands .... 18% 18% 18% 18% Un Biscuit 24% 24% 24% 24% United Fruit ... 73% 73% 73% 72% Ward Bak (B).. 1% 1% 1% 1% Wrigley 75 74% 74% 74% Retail Stores— Best & Cos 37 37 37 37 First Natl Stores 58% 58% 58% 58% Gimbel Bros 4% 4% 4*/ 4% Gr Un Tea 5% 5% s*/ 5% Hahn Dept Sts.. 6% 6% 6% 6% Chicago Stocks (By Abbott. Proctor & Paine) Prev. Close, close. Bendix Aviation 16 15% Berghoff Brew Cos 2% 2% Borg Warner pfd 28% 27% Butler Bros 7% 7% Chicago Corp. com 2*/ 2*/ Chicago Corp, pfd 29*/* 29*4 Chicago Mail Order 16 15% Cities Service . 1% 1% Commonwealth Edison 47 47 Cord Corp 4 4*/a Crane Cos 10 9% Marshall Field & Cos 10% 11 General House Util 7% 7% Greats Lakes Dredge 18% 18% Libby-McNeil 5% 5% Parker Pen 12% 8% Swift & Cos 17% 17% Swift International |.... 32% 33 Utility & Ind % % Utility & Ind. pfd 1% 1% Walgreen Cos. com 28% 28% New York Curb (Bv Abbott, Proctor & Paine) Prev. Close. Close. Am & For Pwr War 2% 2% Am Cyanide “B” 15% 16 Am Gas & El 19 18% Am Superpower 1% 1% Ass Gas & El % % Atlas Corp 8% 8% British Celanese 2% Buckeye Pipe Line 30% Can Indus Ale "A” 6% Carrier Corp 17% 16* 2 Cities Serv 1% 1% Crown Cork Inti 7 Deere & Cos 25 24% Distillers Lim 25 23 Distillers Corp 14% 14% Dow Chem 79% 80% El Bond & Share 7% 7% Fisk Rubber 10% 10% Ford of Can “A” 27 26% Ford of Europe 8% 8% gen Aviation 22% 5% ulf Oil of Pa 54% 54% Hiram Walker ../ 25% 25V* Humble Oil 44% 44% Imperial Oil Ltd 16% 16% Int Petrol 30 30 Lake Shore Min :.. 53% 53 Libby McN. Libby 5% 5% Lone Star Gas 4% 4% Natl Bellas Hess 2% 2% Newmont Min 39 38% Nia Hud Pwr 3% 3% Navadel Agene 22 21% Pan Am Airways 9 40% 40% Park Davis 33 32 Penn Road -1% 1% St Regis Paper 1% 1% Sal Creek Products 6 8 Sherwin Wms 88 86% Technicolor Ind 13 13 Teck Hughes Gold 3% 4 Un Gas 1% Un Pwr & Lt “A” 1 IV* Wright Hargraves Min 8% 8% Investment Trusts (Bv Abbott. Proctor & Paine) ■ Bid. Ask. Amer Bank Stocks Corp 90 96 Amer & General Sec (A) 3.00 5.00 Amer & Inv Tr Sh 1.75 .... Basic Industry Shares 3.06 3.16 Eritish Type Inv Tr Sh 35 .40 Collateral Trustee Shares (A).. 4.37 450 Corporate Trust Shares (old).. 1.96 2.00 Corporate Trust Shares (new).. 2.20 2.24 Cumulative Trust Shares ... 3.68 3.78 Diversified Trust Shares (A).. 625 Diversified Trust Shares (Bi . 7.00 Diversified Trust Shares (Ct - - 2-84 288 Diversified Trust Shares (D)-. 4.20 4.37 First Insurance Stock Corp. ... 4.37 4.75 First Common Stock Corp 50 1.00 j Fixed Trust Oil Shares (A) 7 50 i Fixed Trust Oil Shares (B) 6 37 ■■ Fundamental Inv Inc 184 .190 Incorporators Investments ....16 87 18.12 Land Bank Bond Shares 5.32 5.42 Low Priced Trust Shares 4.80 4.90 Mass Inv Trust Shares 18 86 20 37 Nation Wide Securities 295 3.05 North Am Trust Shares (54).. 182 188 North Am Trust Sh (55-s?i .. 225 2.26 North Am Trust Shares (58) . 2.27 2.32 Selected American Shares ... 237 . j Selected American Sh Inc ... 1.11 122; Selected Cumulative Shares.. 6.41 Selected Income Shares 3.32 3.87 Std Amer Trust Sh (Ai 2.75 280 Trust Shares of America 2.50 2.58 Trustee Std Oil (A) 5.65 5.72 Trustee Std Oil <Bi 478 488 U. S. Electric Lt & Pwr (A) .10 50 11 00 Universal Trust Bhares 286 2.90 1 Treasury Statement (By United Press) WASHINGTON, Dec. 15—Government expenses and receipts for the current fiscal vear to Dec. 13. compared with the corresponding period of the previous fiscal year: This Year Last Year Expenses $3,202,401,088 01 $2,169,787,097.12 Receipts . 1.627.610.684 65 1,280,451.085 82 Deficit. . 1,574.790.403.36 889 336.011 30 Cash ba! 1.608.597.960 90 1.012.412.630 40 RUBBER TAKINGS UP Increase of IJ* Per Cent Over 1933 Shown in First Nine Months. By Times Special WASHINGTON, Dec. 15. Domestic consumption of rubber during the first nine months of the year totaled 360,000 tons, an increase of 15 per cent over the corresponding period last year, according to the Department of Commerce. World consumption for the same period was 716.000 Urns, a gain of 18 per cent over the first threequarters last yeaa

Latest Stock, Bond and Commodity Quotations

GENERAL LIST ( IS IRREGULAR SPECIALTIES UP Radio Corp. Issues Feature, With Common Center of Activity. MARKETS AT A GLANCE By l nited Press Stocks quiet and irregular; special issues feature. Bonds dull and irregular. Curb stocks steady; specialties at new highs. Chicago stocks quiet and mixed. Dollar easier in foreign currencies. Cotton up 4 to off 1 point. Rubber unchanged to 4 point* higher. BY ELMER C. WALZER I'mtfd Press Financial Editor NEW YORK. Dec. 15. A few special issues fluctuated widely on the Stock Exchange today, while the main list was dull and mixed in a narrow range. Radio Corp. furnished excitement reminiscent of the halcyon market days, when it was traded in huge blocks. It opened today at 5%, off %, on 3,500 shares, then sold in blocks of 1,000 or more shares until a big batch of orders was bundled into a block of 23.000 shares and thrown overboard at 5. There it was off % point and anew low for the movement, resisting further pressure. Meanwhile Radio preferred A and B stocks were bid u; leading the outsiders to believe the company's recapitalization plan might provide payment of arrearages on preferreds in common stock. Phillip Morris, Ltd., had the distinction of being the one stock to ! make an all-time high. It sold at | 47%, up 3% points, in fairly active turnover. Wilson A, which lost heavily yesterday when the directors adopted a recapitalization plan, was steadier today. The preferred stock which will benefit from the plan through receipt of back dividends, was firm. Buying came into American Woolen issues and the preferred reached 43%, up 2% points. The Week in Review Trading lightened on the Stock Exchange in the past week as the recent rally ran into profit-taking that reduced prices moderately. In the Tuesday session prices broke sharply in the last half-hour with volume large enough to cause tickers to fall behind two minutes. Before that it had been slippping off gradually. It regained its equilibrium later, but there was no attempt to bolster prices. Traders reasoned the market had risen to a position where it was subject to technical correction. They tested it and found it vulnerable to some extent. Offerings dried up and a steadier tone w T as noted late in the week. While leading stocks such as United States Steel, Westinghouse Electric, American Can, Woolworth, Allied Chemical, American Telephone Bethlehem Steel, New York Central, Chrysler, General Motors and Atchison declined fractions to 2 points. A sizable list of lower grade issues made gains. Activity and strength were noted in low-priced mercantiles shares, many making new highs for the year. Wilson issues made new highs in the packing group and then declined sharply Friday when the company announced its reorganization plan.

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $2,052,000.00 Debits I*. 6.782.000.00 Clearings for the week 13.048.000.00 Debits for the wek .31.910,000 00 EOREIGN EXCHANGE fßv Abbott. Proctor & Paine) Open. Close. Sterling. England $4.94 7 $4 94 7 4 Franc, France 0559 5 .0659)4 Lira, Italy 0855 .0854)4 Franc. Belgium .2339 .2337 Mark. Germany 4019 .4017 Guilder. Holland 6763 .6763 Peseta. Spain 1367 .136^ Krone. Norway .2488 .248^ Krone, Denmark 2210 .2210 - s 'i "L—__ OFFICE SPACE Tne money value of offica space is not determined by the number of square feel but by the number of useable square feet We invite you to use our custom-built service. KLEIN, KUHL. PROPERTY MANAGEMENT Lincoln 3545 INDIANAPOLIS