Indianapolis Times, Volume 46, Number 208, Indianapolis, Marion County, 9 January 1935 — Page 11

Wall St. Bankers Will Try to End Surety on Funds. BY RALPH HENDFRSHOT Time* Spfnil Writer

"XTEW YORK. Jan. 9—Another TN attempt will be made this year by some of the leading bankers of New York to eliminate the necessity of providing surety bonds to cover deposits of the state* it was learned this week on excellent authority. A bill to that effect is being prepared for submission to the Legislature in Albany and its sponsors are hopeful

of getting sufficient support to enact it into law. The bankers charge that these bonds coast itute an unnecessary expense and that banks accepting such deposits suffer a loss on thp handling of the money because of them. They make the point also that the precedent set by the state is causing many cities to de-

mand similar protection, and they fear that the practice may spread even to corporations and other large depositors. Despite the fact that other depositors receive no interest on demand deposits, the state extracts one-half per cent on its ?posits. The surety bonds cast ano her onehalf per cent, and the banks are obliged to set aside another additional 13 per cent as reserve. Because these deposits may be withdrawn at any time, the banks are obliged to place the funds in the call loan market, where the average net return at this time is about % or 7s per cent, or in some other securities which can be quickly liquidated and which bear a similarly low rate of Interest. a ts v IN other words, the banks can loan but 87 cents out of every dollar deposited by the state, and they revive less than 1 per cent interest on the loans. Tire interest paid, plus the premiums on the bonds, amounts to 1 per cent, and overhead and the cost of handling the transactions adds further to the loss on the business. This loss, it is contended, must be absorbed by such profits as are made on other deposits. and the net result is to lessen the protection afforded other depositors. Closer co-operation between the state departments having to do with depositing the state’s money and making the banking examinations would eliminate any danger of loss through failures, it is contended. The superintendent of banks can call for a statement of any bank whenever he desires, and this privilege, together with the fact that state deposits always get preference in repayments in case of failure, gives the state a big advantage over other depositors. tt st a THE question quite naturally arises,as to why bankers seek state deposits if they prove unprofitable. The answer, the bankers saw is that these deposits are profitable in times of high interest rates, and that if they do not carry them when conditions are unfavorable they are unlikely to get them when they are favorable. The argument seems to simmer down to a point of where one state department lacks confidence in another state department and demands a bond from private interests to protect the funds entrusted to it. The banks are forced to pay a premium for government insurance on their deposits up to SSOOO, but the person, corporation or municipality with deposits above that figure may well ask who is guarding their interests. CHICAGO HOLC GRANTS EXCEED 120 MILLIONS Loans Distributed During December Put at $16,000,000. By Timex Special CHICAGO. Jan. 9—Granting loans of $16,000,000 in December, the Home Owners Loan Corp. has nowpassed the $120,000,000 mark in total grants, according to Henry G. Zander Jr., state manager of the federal agency. The total of 4,181 loans for the Chicago area in the final month of the year, while under that for several recent months, is substantial for this stage of the corporation's progress. Onlv those applications which had reached the legal department on Nov. 15 are receiving loans. There are now approximately 11.000 cases in the hands of the attorneys, which will receive final disposition as speedily as possible. NEW AIR ROUTE AIMED American Air Lines to Inaugurate Coast to Coast Sendee. By Timex Special CHICAGO CHICAGO, Jan. 9 American Ah’ iJnes will link New York and Los Angeles with a newsouthern transcontinental air route on Jan. 13 and 14, C. R. Smith, president of the company, announced today. It will open the first commercial gateway through Washington to the southwest and Pacific Coast. The new sendee provides the nation's capital and such major cities as Nashville, Memphis, Dallas, Ft. Worth, El Paso, Tucson and Phoenix with direct transcontinental sen-ice for the first time. ADOPTS INSURANCE"PLAN Sargent-Gerke Cos. Will Aid All Workers Under Program. The Sargent-Gerke Cos., Indianapolis paint manufacturer, announces the adoption of a wholesale life insurance program for the benefit of all eligible employes.' The Metropolitan Life Insurance Cos. is administering the plan on a co-operative basis, employer and employe sharing the cost. Individual amounts of life insurance provider by the plan will vary according to grade. WILL SELL EQUIPMENT On Jan. 22 the Industrial Plants Corp. will sell all of the machinery, equipment, tools, supplies, etc., of the Sidway-Topliff Cos. of Elkhart, Ind., it was announced today.

STOCKS FIRM. WITH TRADING AT DULL PACE Leaders Display Little Change; Motor Issues Again Active. B f i nit> >1 l’r> xx NEW YORK, Jan. 9.-The stock market firmed in dull tn.ding during the morning, after a sie; deepening. Several issues registered ol a point or so a round noon including Simms Petroleum at 18 1 2 , up 1%; U. S Smelting 122' 4, up 1; National Steel 50' 2 , up 1; Container A i3'4, up 1U: and Ka/bison Waliter 19%, up I*. A fev* issues lost a point or more, including American Tobacco B, Liggett Myers issues, and Inland Steel. Among leading issues, prices were little changed. U. S. Steel around noon was at 387 s, unchanged; Westinghouse Electric 38%, off %; American Can 115%, off 7s; Ameiican Telephone 105, off %; Chrysler 40 %, up U; General Motors 3275, up >B, and New York Central 2075, up \. Motor issues were active and firm. OiLs were irregularly higher after another setback. Most of the rails recovered early losses. Gold mining issues were more active than recently at rising prices.

Hcndershot

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $3,061.000 00 Debits $6,942,000-00 TREAStRY STATEMENT (By United Press) Washington. Jan. 9.—Government expenses and receipts for the current fiscal year; This Ypar. Last Year. Expenses $3,676,556,375.39 $2,921,009,424.87 Receipts 1 920.610.665 23 1.528.781.795.27 Deficit .. 1.755.945,710.16 1.392.227.629.60 Cash Bal. 2.524,431.265.08 802,697.458.30

Gleanings

A summary of corporation news prepared by the Standard Statistics Cos., Inc., New York, follows: American Telephone and Telegraph Co.’s Bell System in December gained 21,200 stations, against 13,000 in December, 1933; for the 12 months the gain was 298,000 stations against a loss of 630,000 in 1933 period. Briggs Manufacturing Cos. declared a dividend of 50 cents. The company padi 25 cents quarterly and 25 cents extra Oct. 30, 1934, and a dividend of 50 cents on Dec. 29,1934. Cherry-Burrell Corp. common share net for the year ended Oct. 31 was $2.16, against 1 cent. Chrysler Corp. December shipments totaled 57,305 new cars, against 6,300 units shipped in December, 1933; 1934 output was the largest in its history. Consolidated Gas Cos. of New York —Treasury department filed an application for a PWA loan of $3,780,000 to build a power plant to supply electricity to twelve Federal Buildings in New York. General Motors Corp.—lt was announced that Pontiac has set its 1935 production quota at double the 1934 figure; as of Jan. i Pontiac had orders at the factory for 37,000 cars for the first three months’ requirements. Hollinger Consolidated Gold Mines, Ltd., declared usual extra dividend of 5 cents and regular monthly dividend of the like amount. S. S. Kresge Cos. December sales were up 7.5 per cent; twelve months up 9.3 per cent; number of stores in operation as of Dec. 31, were 731 against 720 on Dec. 31, 1933; records of Securities and Exchange Commission disclosed that S. S. Kresge, chairman of board, owned 1,292,982 shares of common stock of this company; at close of 1933 there were 5.517,930 common shares outstanding.

New York Bond Quotations

(Reprinted from yesterday) DAILY BOND INDEX 20 20 20 20 Inds. RRS. Utils. Comb. Today 86.7 86.4 90.4 87.8 Yesterday 86.7 8 .> 4 90.1 87.8 Week aso 85 9 84 3 89.1 86.5 Month ago 75.3 84 0 89 1 86.1 (Copyright. Standard Statistics Cos.. Inc.) U. S. GOVERNMENT BONDS ißv United Press) NEW YORK. Jan. B—Closing United States Government bonds (in thirtyseconds) : Liberty Prev. Close, close. 3'aS (32-47> 103 24 103.12 First 4's (32-471 103 14 1C3.21 Fourth 4' s (33-38' 103 23 1C3.22 Treasury 4>4S-3 1 S (45) 103 7 103 28 4>*s (*7-52. 113 12 113.9 3 s s (43-47) .104.31 104. 3 s s ( 40-431 June 104.30 104.18 3> 4 s (41 ( 105 104 25 3's (46-49) 102 8 102.1 3s (51-55) 1018 101.3 3s 101 6 101. Home Owners Loan Corp. 3s May 1. 1952-51 99 22 99.26 4s July 1. 1961 100 26 100.30 2 s s Aug. 1. 1949 96.26 96 30 Federal Farm Mortgage Corp. 3’ # March 15. 1964-44 101.16 101 22 3s March 1. 1952-44 99.20 99.24 FEDERAL FARM LOAN BONDS (Bv Blvth A Cos.) Bid. Ask. 4s July 1. 1946-44 101 <4 10' 4s Nov. 1. 1957-37 100 s . lOI’-k 4s Mav 1. 1958-38 100 s * 101'. 4 1 4 s JulV 1 1956-36 101 101' a 4*s Jan. 1. 1957-37 101'* 101 \ 4's May 1. 1957-37. 101'* 101 s . 4'.s NOV. 1. 1958-38. 101 1 a 102'. 4'-s Mav 1. 1942-32 101 101'a 4' ; s Jan. 1. 1943-33 101 101‘a 4'aS Jan. 1. 1953-33 101 101 ! a 4'.-s Jan.l. 1955-35 101 101 1 a 4’ 2 s Jan. 1. 1956-36 101'a 102'-* 5s May 1. 1941-31 101S 101’* 5s Nov. 1. 1941-31 101 s * 101 7 * (Bv Fenner & Beane) Domestic— Prev. Issue Close Close Alleg Corp 74 \ 74 1 4 Alleg Corp 5s 49 65' 2 66 Alleg Corp 3s 50 255* 26 Am Frcn Pow 5s 2030 59 59'4 Am Te! * Tel 5' 2 s '43 112'* 112 s * Am Tel A Tel 5s 'js 112 111 J 4 Arm A Cos 'Del) s'a* ’43 103 s * 103'. Ail Coast Line 4s '52 101 101 Atl Coast Line 4Ss '64 92 92 Atch Top A- S Fe 4'iS '4B 108 108 Am Wat Wks 5s '44 04 s * 95 Am Rolling Mills 5s '3B 111 1 a 111 Balt A Ohio 5s '95 77'2 76'2 Balt At Ohio 6s '95 86'* 85 ! 2 Balt A- Ohio 4'as '6O 005* 60 5 4 Buff Roch A- Pitt 4'aS '57 .... 70 s * 70 ! 2 Beth Steel 5s '36 . 104'* 104 Chi Milw A- ft PI 5s ’75 25' 4 25'2 Chi Miiw A- St PI s 2000 7* 7 s * Cleve Un Term 5' 2 s '72 102 s * 102 s * Cleve Un Term 5s '73 96 7 96 s * Cleve Un Term 4' 2 s ’77 90's 91 Col Gas 5s Mav 52 82'a 83 Cos! Gas 5s '6l 80 80' 2 Cat. Pas Fers 4a 86 Va 86?•

Abreast of The Times on Finance

New York Stocks

(By Thomson & McKinnon* 11 A. M Prev. Oils— High Low N Y close. Amerada 61*4 51 % 51% 51*2 Atl Rfg 24 s * 24’ 2 24% 24% Barnsdall 6 s * 6 5 * 6% 6 s * Consol Oil 8 8 8 8% Cont of Del 17% 17 5 17 5 17 s . Houston inew).. 33 33 Houston (oldi .. 16’i 16% 16% 16’a Mid Cont Pet .. 11% l!% 11% 11% Ohio Oily 10 9 7 * 10 10 Pet Corp 8% 8% 8% 8% Phillips Pet ... 15 15 15 15 Plymouth Oil ... 8' S'* B'* 8% Pu.-_ Oil 7*2 7% 7% 7% S-U ’ c 14 ! 2 14 3 14 % 14 3 a S O f Cal 33’, 30’* 30’* 31’* S U . mo 25 25 25 25 1 s SC .f N J .... 42‘2 42% 42% 42’* Texi. Corp . 20', 20 20'. 20% Tid ater Assn B’* B’* B’* B’* Un Oil of Cal . 15 s * 15 s , 15 s * 15% Steels— Am Roll Mills .. 23’,* 23 23 ! , 23% Beth Steel 33 s * 33'. 33'2 33% Pvers AM 20 20 20 20 Inland Steel ... 53’ 53 53 55 Litilum Steel ... 17 3 4 17% 17% 18 Natl Steel 50% 49’* 50% 49% O’la Steel s’* 5% 5% 5 3 , Kep Iron & Stl . 15% 15 15’4 15 Rep Ir & Stl pfd 44’ 2 44*2 44% 45 U S Pipe & Fdy 21 1 * 21 21', 21 1 , U S Steel .33 3 , 39% 39 5 *333,9 3 , U S Steel pfd 89% 85’, 89 3 , 89’2 Youngstn S&. T 21% 20V, 21 20’, Motors— Auburn 28’ 2 27% 28% 27 s , Chrysler 40% 40% 40% 40*4 Gen Motors .... 32’, 32 s , 32’, 32 3 4 Graham Mot ... 32% 33 Hudson 11% 11 s , 11’, ll s a Hupp 3'.2 3 3 , 3% 3-2 Mack Truclc ... 27% 27% 27% 27% Nash 18% 18 18% 18’ 4 Packard 5 s , s'/ 5 3 , 5% Studebaker 3 2 3 4 2% 3 Yellow Truck .. 37, 3’s 37, 37a Motor Access— BendiX 16 3 4 16% 16'2 16% Bohn Alum .... 59% 59% 59 3 4 59',4 Borg Warner ... 30% 30 30 30 Briggs 28N 28'2 2e% 28‘a Eaton Mfg 18% 18% 18 a 18% Elec Auto Lite.. 27% 27'/2 27 s , 27’a Eiec Stor Bat .. 49 49 49 48’a Houdaille A .... B'4 B'* 8% 8% Murray Body ... 7' 2 7' 2 7'2 7' 2 Stew Warner .. 8% 8 3 4 8 3 4 B’a Timken Roll ... 36% 357, 357s 36 Mining— Alaska Jun 20% 19% 197, 19% Am Metals 16 16 16 16’ 1 Am Smelt 38'2 38% 38% 38% Anaconda 11% 11% 11% 12 Cerro De Pasco. 46% 45% 45% 45% Dome Mines ... 39% 387, 39% 387a Granby 7 7 7 7 Howe Sound ... 51 50% 51 50 4 Int Nickel 24 23% 23’a 23% Kennecott Cop. 17% 17% 17% 17% Mclntyre Mine. 42% 42% 42’,a 41% Noranda Cop... 35% 34% 35 34% Phelps Dodge ... 15% 15% 15% 10 % St Joe Lead ... 16’, 16% 16% 17 U S Smelters.. . 122% 121% 122% 121% Vanadium 21% 21% 21', a 20% Amusements— Fox Theat 12 *2 12% 12% 12% Loews Inc 32% 32% 32% 32% Radio Corp .... 5% 5% 5% 5% RKO 2% 2% 2% 27, Am Sum Tob.. 23 % 23% 23% 24 Am Tob “A"... 84 84 84 84 Air Tob “8”... 86 85% 85% 86% Ligg & Myers B 107 107 107 108 Lorillard 20% 20% 20% 21 Phillip Morris . 45% 45% 45*4, 45% Reynolds Tob B 50% 50% 50% 51% Rails— Atchison 54% 54 54% 55 Atl Coast Lines 35% 35% 35% 36% B & O 14% 14% 14% 14% Can Pacific . . 12% 12% 12% 12% Ch & Ohio ... 45 44% 45 44% Chi & Gt W pfa 4% 4% 4% 4% C M & St P... 2% 2% 27, 3 C M i St P pfa 4% 4% 4% 4% Chi N W 5% 5% 5% 5% Dela & Hud ... 42% 42% 42% 42% Del Lac & W... 18% 18% 18% 18% Erie 12% 12% 12% 13% Erie pfd 16% 16% 16% 17 Gt Northern pfd 16% 16% 16% 16% 111 Central 16% 16% 16% 16% Lehigh Valley.. 107s 107s 107, 11 MK&T 6 6 6 6 M K & T pfd.. 14 14 14 14*4 Mo Pac 2% 2% 2% 2% Mo Pac pfd... 3% 3% 3% 3% N Y Cent 20% 20% 20% 20% N Y New Haven 7% 7% 7% 7% N Y Ont & West _% 5% 5*4 5% Norfolk & West 170 . 170% 170% 171 Nor Pacific 20% 20% 20% 21*4 Penn R R 24% 24% 24% 24% Sou Pac 18% 17% 18% 18% Sou R R 15% 15 3 s 15 u s 16 Union Pac ...101 109 109 110% West Maryland.. 9% 9% 9% 9% Equipments— Am Brake Shoe 29% 29 29 29% Am Car & Fdy.. 19% 19’/, 19% 18% Amer Loco .... 20 19% 20 19 1 2 Am Steel Fdy... 18 17% 18 17*2 Bald Loco 674 6*/s 6’/, 674 Gen Elec 23 22% 23 22% Pullman Inc 52 51 52 51% West Air Br 25’, 25% 25% 25*2 Westingh Elec.. 38% 38% 38% 38% Utilities— Am & For Pwr.. 4% 4% 4% 5 Am Pwr & Lit.. 3*2 3% 3% 3% AT&T. ...105% 104% 104% 105’ 2 Am Wut Wks . 14*4 147a 14% 14*, Col Gas & Elec 7% 7 7 77a Conn & Sou —l% 17a 174 1% Consol Gas 20 19% 20 1974 Elec Pwr & Lit.. 2% 27s 2% 3 Int Hydro Elec . 2% 2% 2% 2% Int T & T . ■ . 9% 9% 9% 9% Natl Pwr & Lit. 774 774 7', 7*4 North Amer ... 13 13 13 12% Pac G& E .... 1474 1 4 1474 14% Peoples Gas ... 21 21 21 20% Pub Serf N J .. 24% 24*4 2474 2 4*4 So Cal Edison . 12 12 12 12 Std Gas 4% 4 4 474 Stone & Webster 4% 4% 4% 4% United Corp ... 2% 2% 2% 2% Un Gas Imp .. 12% 12% 12% 12% Western Union . 33*2 337, 337 2 34 Rubbers— Firestone 17*4 17% 1774 17’ 2 Goodrich 11% 117, 11% 174 Goodyear 25% 25*4 22 % 25% Ketly Spring •• 1% 1% 17s 174 U S Rubber pfd 41 4074 41 40% Miscellaneous— Allis Chalmers.. 1 1674 17 Am Can 1, 115 115*4 Am Mach & Fdy 2L„ -:l% 21 s , 2174 Anchor Cap . .. 17% x7’s 17% 17% Brklyn Man Tr.. 40', 40 4 39*2 Burroughs Add,. 15% 15% 15% 15% J I Case 59 58*2 59 58*2 Conti Can 66*4 657s 66 66 Caterpillar Tract 39% 39 39*4 39% Curtis Pub 22% 22*4 22 % 22 ’ 2 Curtis Pub pfd 100 100 100 100 Deere & Cos 28% 28% 28% 28% Eastman Kodak 117 116% 117 1167 2

Cent Pao 5s '6O 81 80 Big Four 4’ 2 s '77 76 >4 77 Big Four 6s '63 84 s * 84 Colorado & Sou 4' 2 s 'BO 73 s * 72'* Chi & West Ind 4s ’52 93 s * 93'2 Chi & West Ind 5' 2 s '62 102'a 102 s * Chi A or West 4 s ,*s ’49 22 22'2 Con Gas 5s '57 103"* 103 5 s Chesa Corp 5s '47 105'2 106'* Dodge Bros 6s '4O 106 s * 1(>6 7 b Del A: Huds is '43 94'* 94 N Y Dock 4s 'sl 60U 60 N Y Dock 5s '3B 45 46 Erie 5s '75 73 ’a 73?* Erie 5s ’67 74 74 Gen Cable 5' 2 s ’47 87 87',i Grt Northern 7s '36 9454 95 Grt Northern 4' 2 s ’76 79 781* Grt Northern 4’ 1 2 s 77 79'* 79' s Gen Stl Cast WW s' 2 s '49 .. 89 s * 90 Hud & Manhat Ref 5s ‘57 ... 87 7 B 88'2 111 Cent 4 s *s '66 62 s * 63 111 Cent Jt 4'2s 63 73 s * 73 111 Cent 5s '63 . . 78'* 78 s * Interlake C A I 5s 'sl 77’ 2 77 s * Interntl Hv Elec 6s 44 54'2 52' a Interntl Tel A- Tel 4>as ’39... 70 s * 71 Interntl Tel & Tel 5s ’55 .... 68 s * 68 s * Interntl Tel & Tel 4‘ 2 s '52 ... 64 s * 64 1 2 P Lorillard 7s '44 . 127 s * 127 s * McKess A- Rob 5'2S 'SO 95 95 Midvale Stl 5s ’36 102 s i 102 s * Natl Dairy 5Vs '4B 102 s * 102 s * Natl Steel 5s '56 106 s * 106 s * Nickel Plate 4' 2 s '7B 66 65 s * Nickel Plate 5' 2 s ’74 76’2 76 s * Nickel Plate 6s '35 70 s * 71'* N Y Cent 5s 2013 70 70'. N Y Central 4 1 2s 2013 (Old) .. 63 1 2 64'a Nor Amer Cos 5s '6l 82 82 Nor Pac 3s 2047 75 s * 75 Nor Pac 4' 2 s 2047 89'* 89'2 Nor Pac 6s 2047 102 101'2 Nor States Pow 5s '4l 103 s * 103'* Otis Steel 6s '4l 73' 2 ■■ Penn Rv 4'*s 'B4 101'* 100 s * Penn Rv 4'*s 'Bl 101 s * 101 Penn Rv 4 : 2S '7O 95'* Pac G & E 5s ’42 106' 2 107 Portland Gen El 4'aS '6O 51 s * 51 s * Para Publix s'2s 'SO 62'a 62 Penn PA- L 4'aS 'Bl 99'* 99 s s Postal Tel A- Cab 5s ‘53 47 47 2 Rem Rand W W 5':S '47 99k* 99'2 Sinclair Oil 6'2S '3B 103 s * 103 s * Shell Union Oil 5s '47 102 "s 102 > s Sou Pac 4'2S '6B 68'-* 69 Sou Pac 4* 2 s 'Bl 68 68 2 Sou Pac 4'a£ '69 68 * 69'2 Sou Pac 4s '49 72's 72*4 Sou Rail 4s 56 62'a 61 1 2 Sou Rail 6s '56 81 81 Sou Rail 6 ! 2S ’56 85 85 Sharon Stl Hoop 5 1 is '4B 87'* 85 s * Texas Pac 5.> ’BO. 83*2 83'* Texas Pac 5s 79 93'* 93 Union Pac 4s '47 108 s * 108 s s United Drug 5s '53 91'* 91'2 U S Rubber 5s '47 93 92 s * NY NH & Hart 6s '4B 51'* 52 NY NH A- Hart 4'2S '6 7 4 4 s * Warner Bros 6s '39 58 7 * 58'2 Western Mary s'aS '77 98 s * 99 Western Mary 4s '52 .... 88 s * 88’a Youngstown S A T 5s '7O ... 98 97'. Youngstown S A T 5s ’78.... 97 s * 97'* —Foreign— Argentina A 6s ‘57 93 s * 93 s * Argentine B 6s ’SB 84 93'* Brazil 8s ’4l 33 34'. Canadian Govt 4s ’6O 104 7 * 104 7 * Denmark s'aS '55 99 s * 99 s * German 5’2S '65 31'a 30'* German 7s '49 43 42'a Italy 7s 'sl 92 92'* Japan 6 ! 2S '54 96'* 96 Poland 7s '47 117'2 117?i Rome 6'aS '52 84'a 84 Tokio City s'as ’6l 76 s * 75 Yokohama 6s 'Bl *•****•••• £2. B*'/* *

INDIANAPOLIS, WEDNESDAY, JANUARY 9, 1935

Foster Wheeler . 16'4 16% 16% 16% Gillette 14% 14 14% 14 Glidden 27 26% 26’, 2<% Ingersoll Rand . 69 69 69 69% Int Bus Mach... 152 152 152 152 Inter Harv 42% 41% 41’, 42 Natl Cash Reg .. 18% 18 18 17% Owens Bottle .. 85% 85% 85’, 85 Rem Rand 10’, 10% 10’, 10 a Underwood E.. 58% 58% 58% 58% Armour 5% 5% 5% 5% Armour 6% pfd 68*2 68% 68% 68 4 Beatrice Cream. 17% 17% 17'* 17% Borden Prod ... 24% 24", 24% 24% Coca Cola 172 172 172 171% Corn Prod .. .. 66% 66 66*4 66 Crm of Wheat . 36% 36*2 36% 36*4 Cuban Am Sugar 6% 6% 6*4 6% Gen Foods .... 34 34 34 33 s , Gold Dust 17% 17% 17% 1% G W Sugar 29', 29', 29% 29 Natl Biscuit ... 29% 28’, 29% 29% Natl D Prod .■. 16% 16 s , 16 s , 16’* Purity Bak - 10% 10% 10*2 10% S Porto Rico Sug 20% 20% 20% 21*2 Std Brands 18% 18% 18*2 18% Un Biscuit 25% 26% 26% 26 W'ard Bak ‘B’ I s , It, 1% Wrigley .. 78 78 18 18 Retail Stores— Assd Drv Goods 13% 13% 13% 13 Best &Cos 35% 35% 35% 35% Firs tNatl Stores 54% d3* 2 a3% 54 Gimbel Bros ... 3% 3 s , 3 s , 3%

Chicago Stocks

(By Abbott, Proctor & Paine) 11:00 Prev. A M. Close. Borg-Warner, pfd 30 30% Butler Bros 7 7 Chicago Corp, com 2*4 2% Cities Service 1% 1% Commonwealth Edison 53*2 50% Electric Household 15*2 15% Marshall Field & Cos 10*2 10% General House Util 7 7 Libby-McNeil 7 7% Prima Cos 3% 3% Public Service N. P 17% li Swift &Cos 19*2 19% Sivift International 34% 34%

New York Curb

(By Abbott. Proctor & Paine* 12 Noon Prev. N. Y. Close. Allied Mills 13% 13% Alum Cos of Am 51*4 51% Am Cyanide “B” 16% 16% Atlas Corp 9% 9% Carrier Corp 16% 16% Distillers Corp 17% 17% El Bond & Share 6% 6% Hiram Walker 30% 30% Lake Shore Min 54% 54% Natl Bellas Hess 2% 2% Novadel Agene 21% 22 Park Davis 33% 33% WHEAT DEPRESSED BY NEW LIQUIDATION Tired Eastern Longs Se ! i; Alien News Bullish. By United Press CHICAGO, Jan. 9 Moderate liquidation by tired Eastern longs degressed wheat futures on the Board of Trade today in spite of bullish news from abroad. At the start wheat was unchanged to off %, oats were % higher to % cent lower, and rye was off % to % cent. A sale of two cargoes of Australian wheatr to the Orient firmed wheat at Liverpool, but this item virtually was ignored by the trade here. (By James E. Bennett* 11:00 A. M. Prev. Wheat— High. Low. N. Y. Close. May 1.02 1.01% 1.01% 1.01 s , July 94% .93% .94*8 .93% Sept 92% .92 .92% .92% CornMay 91*4 .9018 .91% .90% July 86 s , .86 .86*2 .86% Sept 84% .83% .84% .84% Oats— May 55 .55% .54% .54% July 48% .48% .48*, .48% Sept 44 s s .44% .44*2 .44% Rye— May 75% .75% .75% .75% July 75% .74% .74% .75% Sept 74% .74*2 .74% .74% LOCAL CASH MARKET City grain elevators are paying 93 cents for No. 2 soft red wheat. Other grades on their merits. Cash corn No. 3 yellow 86 cents and oats 48 cents.

Hides and Skins

Hides —Green country cows and steers. 4c flat; green country bulls and glues, 2%c fit: green country calf hides, 4%c; flat: green count-y kip. 4c: No. 1. large horse hides with full heads, shanks, mames and tails $2.75, medium size $2.25. 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; dark grease. 3@3Vc.

Other Livestock

(By United Press) FT. WAYNE, Jan. 9.—Hogs. 5c to 10c higher, 250-300 lbs.. $8: 225-250 lbs.. 57.90; 200-225 lbs . $7.80: 180-200 lbs.. 57.70: 160180 lbs.. $7.60: 300-350 lbs.. $7.60; 150-160 lbs.. 140-150 lbs.. $6.60; 130-140 lbs.. $6.25: 120-130 lbs.. $6; 100-120 lbs., $5.50; roughs, $6.50; stags, $4.50; calves. $8.50; lambs, $8.75. GOLD IMPORTS LOWER By Times Special WASHINGTON, Jan. 9.—Gold imports in the Dec. 28 week came to $10,650,873, contrasted with $27,284.659 in the preceding week, according to the Department of Commerce.

BUSINESS ACTIVITY (NEW YORK TIMESf* :sz£_= if) I. ■ ,11■ 1.1.1,1 m hill lm In. liii-L AUTOMOBILE PRODUCTION * <6O ’0 <0 ahiu^nlii.:n.ll l , -li. 1. rPQGHT CAR LOADINGS •00 | ; | *° ' ' -a jo I. mi.,,inline!.' I■i. h 111:1 )! j: 111 1111. riSHERS WHOLESALE PRICE INDEX* I ~j 60 l*.—-1.--J2M■■—•****' el I nil... ;:iM.i,ln.Ln.:i„l.ii., COMMERCIAL TailußES* r-. *4O k —*■% - • .00 j Wft^**^* l 1 ■■ ■■'■■■ ii-.j'-.‘'ii.i.YlJ FEDERAL RESERVE MEMBER BANK LOANS .001 90 : 70 J

COMPUTED NORMAt • >OO * CRAMS ESTIMATE >sU. S. *** CANAQA * <926 * 100 * NUMBER *QAU.T AVERAGE * (928* '93o* 100

TOLEDO GIVES CITY FINANCES TO WATOR' E. J. Marshall, Bondholder's Attorney, Possesses Veto Power. By Scripps-Howard Sewxpaper Alliance TOLEDO, 0., Jan. 9—Holders of Todelo municipal bonds who consented several months ago to accept $3,500,000 in refun in j bonds for matured securities which the city could not pay off, have placed the municipal government in the hands of a "dictatorship.” To guard against any tendency which the city administration under j Mayor Solon T. Kiotz might have j to squander public funds, the bondholers’ attorney, E. J. Marshall, has! assumed a supervisory role in all municipal affairs. Armed with an iron-clad contract which was signed by the city and the bondholders at the time of the refunding operations, Mr. Marshall is vested with the power to pass on the city’s 1935 budget, to veto or approve any extraordinary expenditures, to exact accurate information from the city finance department and to prevent the issuance of any scrip without special permission. Rejects City Budget Already Mr. Marshall has made his presence felt. He has rejected one city budget for next year submitted by Mayor Kiotz and his cabinet, telling the administration in terse terms to come down out of the clouds and estimate its revenues on a reasonable basis. City officials visit the bondholders’ attorney almost daily. They consult him on a great variety of subjects, from the proposed purchase of fire department equipment to suggested annexations of adjacent territories. Mr. Marshall’s supervision has had a healthy effect on the city's financial condition. Not only has it made the administration supercautious lest it bring down the bondholders’ wrath, but it has so increased the public confidence in city hall affairs that Toledo bonds once quoted at 70 cents on the dollar now are selling at par. Veteran Attorney Mr. Marshall is a life-long Toledoan and a veteran attorney. His law firm, Marshall, Melhorn, Marlar & Martin, has a suite of offices in a prominent downtown building and numbers among its clients many of the city’s leading individuals and corporations. As befits a man who has handled million-dollar cases for many years, he bears his title of dictator lightly. He says this is his first and last appearance as the uncrowned king. SPRING PAINT TRADE SEEN AT 1930 PACE Expansion During 1934 Has Been Gradual, but General, Study Says. By Times Special NEW YORK, Jan. 9.—As a result of the general business improvement and home modernization campaigns, opinion is unanimous regarding a more abrupt increase in both production and distribution in the paint trade during the early part of 1935, Dun & Bradstreet, Inc., declared today. Orders to date are for preliminary stocks, the review said, but judging from the frequency of inquiries reorders doubtless will exceed the number booked for any spring in three or four years. Expansion in the industry during 1934 was gradual and general, with the exception of a few dull months during the summer.

Produce Markets

Delivered in Indianapolis prices: Heavy hens. 12c; Leghorn hens, 7c; colored springers. 12c; old roosters. sc; ducks. 7c; geese. 7c: young guineas. 20c; old guineas 15c. Turkeys No. 1 young hens. 8 lbs. and over. 15c; voung toms. 14 lbs .and over. 15c: young toms. 11-14 lbs.. 13c; No. 2. crooked breasts and thin turkeys. 9c: old toms, all weights. 11c; No. 1 strictly fresh country run eggs, loss off. 22c. Each full case must weight 55 lbs. gross: a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter. No. 1 35®36c. Butterfat—2Bc. Quoted bv the Wadlev Cos. (By United Press) CLEVELAND. Jan. 9—Butter—Market steady; extras, 36c: standards, 35c. Eggs— Market steady; extra white. 29c; current receipts, 26%c. No poultry or potatoes market because of strike. ASSETS ON INCREASE Net assets of the Lehman Corp. at the end of the six month period ended Dec. 31 last, totaled $60,237,084, an increase of $5,474,132 over the six months period ended Dec. 31, 1933, it was disclosed today. ’

WEEKLY BUSINESS INDICATORS WEEKLY average 923 1925 INCLUSIVE* 100

STEEL INGOT PRODUCTION •00 l'*" ott oli II Un !n"li '1 I. "Ii " ! Ini lull 1 " 'I ll''m I. I*l lumber PRODUCTION (001 -r—80 60 j -**■ OII.' I' I , 111 I''l '' I-• ll'■ I I'll III" I■■ , lm COtTON RECEIPTS ,00 I v° ?00 i BONO PfflCES* so jiliz*'**'****"****'''" 60 1... I...■iili.iiitilimlmltiiluJ BA n K DEBTS OUTSIDE new vQRk C>Ty* ■0 j zo I oo If—moi *yr.i.i,,...^hiiii.i,!'.i:.nii.L. TIME MONEY RATES* 150 1 ' *oc ~ -%fT

Japanese Automobiles Will Appear on Roads of Continent This Year Having Invaded England With Textiles and the World With Toys, Nippon Now Plans on Bigger Things, Simms Reveals. BY WILLIAM PHILIP SIMMS Scripps-Howard Forcisn Editor WASHINGTON, Jar. 9.—This year, for the first time, will see Japanese automobiles rolling through the streets of Europe. This means that the Japanese juggernaut of trade is irresistibly moving down the world highway and what many have believed impossible may, nevertheless, soon come true.

Having invaded India, and | even England, with her textiles, and flooded the stores of all nations with her bicycles, toys and smaller trinkets, Nippon is now headed toward bigger things. The Nissen (Japan industry) Automobile Cos., early this year will fill two orders for Europe, one of 500 cars for Germany, another of 400 for Holland. Price Only 5250 The cars ordered are the small Datsuns. These are similar in size to the Austins and the MorrisMinors. But whereas the Austin is priced at 140 pounds—about S7O0 — the Datsun is made to sel for about $250. The Japanese makers claim their product is not only more economical in the use of gasoline but superior in hill-climbing. "Most foreigners seem to think Japan’s bid for world trade is based on only one thing, namely, cheap labor,” an American business man told the writer in Tokio last spring. He was talking at the time about how Japan was ousting British textiles from many markets, including her own. "The truth,” he said, "is altogether different. And it is this difference which makes Nippon ail the more dangerous as a commercial rival. Modern Machinery Used "Not only is Japan using the most up-to-date machinery, but her engineers have added improvements of their own. One Japanese girl can tend nearly twice as many looms as is the rule in British or American mills. If you add to modern methods cheap labor, diiect and indirect government subsidies and an aggressive, world-wide selling and distributing setup, yeu’ve got something hard to beat. "If and when the day comes that Japan has her own complete installation for chain or. quantity production, such as is in vogue in the United States, there is no reason to think she can not make her grandiose dream come true.” Nippon’s “grandiose dream” is to make herself the Great Britain of the Orient. Britain Did It Great Britain became the richest nation on earth by importing raw materials, manufacturing them into finished goods and exporting them, in British bottoms, to all the world. When Japan first talked of duplicating Britain’s success, economists said she was 50 years too late. Britain herself is slipping, they observed. And most of her ills are traceable to the fact that the other nations to which she used to ship her goods are now manufacturing everything they need with some left over for export in competition with her. Now there are those who admit Japana may have found anew technique. If she can manufacture things so cheaply that they can pay high duties and still undersell domestic products, it will be difficult to keep her from doing so. A virtual embargo—in itself an unfriendly and war-provking act—seems almost the only effective remedy. Not long ago the world was very much alarmed lest Soviet Russia swamp foreign markets with cheap products. Today the earth’s most imperialistic nation is the one that is arousing fear, not Russia. ORDERS RISE SHARPLY By Times Special CINCINNATI, 0., Jan. 9.—Orders for Crosley shelvador electfic refrigerators placed at the midwinter meeting of Crosley distributors held here last week were more than three times as great as those placed at the meeting held a year ago, Howard E. Richardson, assistant to the president of the Crosley Radio Corp., announced today.

LEGEND ———OJA ——o33

CONSTRUCTION CONTRACTS AWARDED* too ' 1 ‘' ll 1 1 ,T| “*‘ l y '" *■ l "“ l “■ eo 01.. 1 1 mI n 11 1 n: 1 1 n1 i 111 1 1 nl l n I liiilinl.nl BITUMINOUS COAL PRODUCTION* • 00 t * 2o electric power production* • to r 1 " • •ol BoiYT^TvrrfT'!d,,n!...i,iiii.i,ii,.ii,ii,,.i STOCK PRICES* '[ "I ' .1. .i.li..l...'i,*i'.il!)4*i*44* BROKERS' LOANS new YORK CITY • oo; 801 01... %■■ 1.. ■ ■*■ ■ ■ '■■ .1. .(...V.l'..li.iimJ MONEY IN CIRCULATION* ,to l A ■o| jy—

PORKER PRICES RESUME CLIMB Values Mostly 10 Cents Up in Trading at Local Stockyards. By United Press CHICAGO, Jan. 9.—Hog prices soared today to anew 4-year high of 58.20 at the Chicago stock yards. It was the second new high this week. The present price equals the high of July, 1931. Prices last Monday reached SB.IO, the highest since August of 1931. Resuming the rise which was interrupted yesterday, porker prices today at the Union Stockyards added about 10 cents to their values. Generally higher tendencies also prevailed in other midwestern markets. Receipts for the day were put at 5000, contrasted with 6000 in each of the two previous sessions. The improved tone in hog trading was communicated to other sections of the market, with the result that there, too, higher prices prevailed. With cattle receipts falling off to 1200, as compared with 2300 yesterday, a generally active demand was created and better grade steers brought from $8.50 to $10.75. Vealers were about 50 cents higher than yesterday’s close. Lambs were about 25 cents higher HOGS Jan. Bulk. Top. Receipts. 3. 7.30*a 7.55 $7.80 7 090 4. 7.60® 7.75 7.90 7000 5. 7.65® 8.00 8.00 2000 7. 7.90® 8.00 8 05 6001* 8. 7.70® 8.00 8 05 6000 9. 7.80@ 8.10 8 10 5000 Light light: il4o-160i Good and choice.... $6.75® 7.50 Medium 6.50® 7.25 Light weight: (160-180* Good and choice ... 7.80® 7.90 Medium 7.50® 7.b5 1180-200) Good and choice . 7.90® 8.00 Medium 7.60® 7.75 Medium weight: (200-220) Good and choice ... B.oo® 8.05 i220-250( Good and choice ... 8.05® 8.10 Heavy weight: (250-290i Good and choice .. 8 05(5 8.10 1290-350* Good and choice 7.85® 8 05 Packing sows: (275-350) Good 7.00® 7.25 (350-425* Good 6.85® 7.10 (425-5501 Good 6.75® 7.00 (275-8501 Medium 6.60® 6.85 Slaughter pigs: (100-140* Good and choice 5.00® 6 50 Medium 4.2f<®5.23 CATTLE —Receipts. 1200— —Steers—-(sso-900) Choice $9 00® 10.25 Good .. 7.50® 9.75 Medium 5.25® 7.75 Common 3.75® 5.50 (900-1100* Choice 10 00® 11.00 Good 8.25® 10.25 Medium 5.75® 8.25 Common 4.00® 5 75 (1100-1300* Choice .10.50® 11.25 Good 8.25® 10.50 Medium 6.00® 8 25 (1300-1500) Choice 10.50® 11.25 Good 8.50® 10.25 —Heifers—-(sso-750) Choice 7.75® 8.25 Good 6 75® 7.75 Common and medium 3.50® 6.75 (750-9001 Good and choice 6.75® 8.25 Common and medium 3.75® 6.75 —Cows— Good 4.25® 5,50 Common and medium 3.75® 4.25 Low cutter and cutter 125® 2.75 —Bulls—(Yearlings Excluded) Good 4.00® 4.50 Common and medium 2.75® 4.00 VEALERS —Receipts. 500— Good and choice $8.50® 9.50 Medium 6.00® 8.50 Cull and common 3 00® 6.00 I —Calves—-(2so-800; Good ahd choice .. 5 50® 7.50 ; Common and medium . . 3 00® 5 50 1 —Feeder and Stocker Cattle——Steers— (soo-900) Good and choice 4.25® 5 25 Common and medium 2 75® 4.25 <BOO-1050* Good and choice 4 25® 5 50 Common and medium 3 09® 4.25 —Cows— Good 3.00® 3.50 Common and medium 2.50® 3.00 SHEEP AND LAMBS —Receipts. 1000— Lambs, 90-lbs. down, good and choice $8.75® 9.50 Common and medium 6 25® 8 75 90-120 lbs., good and choice ... 3.25® 4.25 Sheep—--120-150) Good and choice 2.75® 3.75 All weights, common and medium 2.00® 3.25 i

Other Livestock

*By United Press) LAFAYETTE Jan. 9.—Hogs Ma.ket steady to 10c higher: 275-300 lbs , $8.10; 300-325 lba., $7 85: 22-37. Lbs.. SS; 2CG-2:; lbs. $7 90: 180-200 lbs.. $7.80: 160-180 lbs . $7.70; 155-160 lbs.. *7.50; 150-155 lbs.. *7.25; 140-150 lbs. *7; 135-140 lbs. $6 75: 100-135 lbs.. $5.25®6.50; roughs. *6.75 down. Calf market dollar higher. *8 top; lamb market steady top. $8 50. (By Times Snecial) LOUISVILLE. Jan. 9.—Cattle—Receipts, 275; broad demand for all slaughter classes; cows strong to 25c higher: other killing classes fully steady to strong; bulk common to medium grade steers and heifprs. $4.50®6, load medium 863-lb. steers. *6.75: strictly good offerings eligible around *8 bulk beef cows. s3® 4 smooth heifer types eligible higher; low cutters and cutters. *lso® 2 75: sausage bulls. *4 down: plainer grade native s'oekers and feeders, $4 75 down. Calves—Receipts. 175; vealers 50c higher: bulk good to choice S6 50® 7 50: medium and lower grades $6 down to around $2 50. Hogs—Receipts 600; steadv too and bulk better 230-3 on ibs $8 05; 200-225 ibs . $7.90; 305 lbs up $7 60: 180-195 Ibs $7.55: 160-175 lbs $7 15 140-155 lbs . $6 65: 120-135 lbs.. $5.70: sows $6 30 Sheep—Receipts 125, steadv on a! slaughter classes Bulk medium to good lambs. s7® 8: choice to $8.50; bucks discounted. common light throwouts $5 50: fat ewes. *2®3.

Government Bonds Home Owners’ Loan Corporation and Municipal Bonds The Union Trust Cos. of Indianapolis BOND DEPARTMENT 120 E. Market RI ley 5341

Latest Stock, Bond and Commodity Quotations

U.S.TREASURY CONSIDERS NEW FINANCING PLAN 9-Billion-Dollar Program to Meet Budget Is Studied. BY RICHARD L. GRIDLEY United Press Staff Correspondent WASHINGTON. Jan. 9.—A new $9.000.000.000 Government financing program to meet President Roosevelt’s budget estimates for the next six months was being planned today by Treasury officials. To meet proposed expenditures of $5,000,000,000 in the next six months, the Treasury expects to collect only $1,900,000,000 from taxes and other sources, leaving $3,100,000,000 to be borrowed. In addition. $6,291,602,800 in Gov* ernment obligations fall due in this period and must be refunded into | new issues. Total new borrowings and refundings, hence may reach slightly more than $9,000,000,000. Tax Collections Mount The bureau of internal revenue has reported a billion dollar gain in .tax collections for the fiscal year ended June 30, 1934., over the preceding year and continued small gains in the current year. Collections, however, still were falling far short of expenditures. Total tax collections in the 1934 fiscal year rose to $2,672,239,195 from $1,619,839,224 in 1933. The budget estimated collections for the current fiscal year ending June 30, 1935, at $3 197.466,507 and in the fiscal year ended June 30, 1936, at $3,443,900,000. Increased business activity, new and increased taxes, especially on beer and liquor, and a back tax collection campaign accounted for the gain in collections in the 1934 fiscal year. Expenditures for the fiscal year ending June 30, 1935, were estimated at $8,581,069,026. Only $3,545,017,914 had been spent to the end of December. This leaves $5,036,051,112 to be spent over the next six months. May Set Record President Roosevelt hopes these expenditures, unequaled in peacetime will mark the climax of recovery and relief drive to be followed : by a gentle whittling down of expenditures. The financing program planned for the next six months would increase the public debt an all-time record of between $31,000,000,000 and $31,600,000,000. A contemplated ex- | cess >f expenditures over income in the fiscal year, as set forth in the | budget, would carry it to a still I further peak of $34,238,823,656 on June 30, 1936. The $5,000,000,000 estimated expenditures over the next six months comprise $1,600,000,000 for regular costs of running the Government and $3,400,000,000 for recovery and relief. WORLD COTTON YIELD LAST YEAR DECREASED Output 3,100,000 Bales Less Than in 1933, Report States. By l nited l*n hr WASHINGTON, Jan. 9.—World cotton production last year totaled 23,000,000 bales, 3,100,000 bales less than in 1933, the Bureau of Agricultural Economics estimated today. The estimate was 200.000 bales below the crop indicated in November, chiefly because of reduced prospects in India. Allowance was made, however, for a 100,000-bale increase in both the United States and Southern Brazilian crops since November. The indicated world crop is he smallest since 1923-24. Exports of American cotton, the bureau reported, continued comparatively small during November and the first half of December. November shipments were nearly 38 per cent less than in 1933 and the smallest for that month since 1918.

On Commission How

Quotations below are average wholesale prices being offered to buyers by local commission dealers. Fruits—Cranberries, Cape Cod, late Howes, 25-lb. box. *5 50. Grapes. California Emperors, 27-lb. box. $2.50. Persimmons. California. 24s $1 35. Bananas, 4%c a lb. Apples. Indiana Jonathans. *1.85; Grimes Golden. $1.50® 1 65. Lemons, Sunkist. 3605, $5. 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. obx. $3.50. Pineapples. 30s $3.75. Anocados. Florida, box. $2. Strawberries. Florida, quart 38c. Vegetables Cabbage, Northern Danish. 50-lb. bag. 75c; red. 50-lb. box. 90c. New Texas Cabbage, half crate, $1.75. Onions Idaho, sweet. Spanish, large. 50-lb. bag. $1.50; Michigan yellow, med . 10-lb. bag 22c: western whitt. 50-lb. bag, *1.85; Michigan, yellow. $1 35. Potatoes, Green Mountains. 100-lb. bag. $1.50: northern round white, 100-lb. bag. *1.10; Ohics, 100-Ib. bag, $1 90; Idaho Russets. 100-Ib. bag, *2. New potatoes. $2 25®2.50. Sweet potatoes, Indiana Jerseys, bushel, *1.35: Tennessee Nancy Haiis, bushel. $.'.40. Beans, stringless, hampers $6 Celery, Michigan medium, dozen, 65c; Jumbo, dozen. 85c: hearts, bunch, *1 60. Cucumbers, dozen $2: southern bushel. $4 Endive, dozen, 90c. Egg plant. $1.50®2 dozen. Kale. Virginia, bushel, 65c. Lettuce, hothouse, 15-lb. basket. $1.50. Arizona Iceberg head lettuce. $4. Mongoes, Florida, crate $4 50. Mint, bunch. 15c. Parslev. dozen. 35c. Peas, hampers. $4.50. Spinach home-grown broadleaf, bushel. *1.1.1 Radishes, dozen. 75®90c. Tomatoes. 10-lb. carton. *1.35; Florida original, *3 Turnips, home-grown, dozen. 25c Pumpkins, dozen $1 All quotations subject to change, up or down.

BE SAFE I nan re so*ir Car Today fpSOTstate Automobile LI-8571. 7(h Floor Orrldental Bldg.

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