Indianapolis Times, Volume 46, Number 234, Indianapolis, Marion County, 8 February 1935 — Page 26

Wall St. Specialties Higher as General List Falters. _BY ALBERT K. ETTI.INGER Timet Spetial Writer

NEW YORK. Feb. 8— Spineless as the present market may seem, it is not without its individual strong spots. Such stocks hold interest because traders regard them as being representative of special situations which readily might be overlooked owing to the widespread uncertainty and inertia. Among the so-called pivotal shares the best example of an outstanding performance is that of American Can. which continues to Invite new spec’Uative attention during each session. The stock has demonstrated on a number of occasions that offerings have been pre ty thoroughly thinned out and that buyers at the -market" often have to pay a substantial fraction or even a point more than the last sale on the tape. American Can's earnings for 1934 have not yet been published, but will be released about Feb 20 if precedent is followed. According to estimates, the report will show at least $6.50 a share, which would compare with $5 04 for 1933. Moreover, it is believed that the improvement has been sustained thus far in the current year. mam T TNITED FRUIT, another stock that has been conspicuous on the upside, reflected the gain of more than 30 per cent in net income for the year compared with 1933 and the Increase of 111 cent from 1932. Elsewhere in the list are a number of notable exceptions io the recent declining trend. American Safety Razor has established anew high price for recent years, within striking distance of the peak for all time. This is also an indication of satisfactory earnings progress. Allied Chemical and Air Reduction likewise have given an excellent account of themselves. The former has been influenced by rumors that directors may shortly announce a plan to retire the outstanding preferred stock of the corporation. Hichly volatile in the past and sensitive to adverse influences affecting the general market, the stock has been remarkably immune from selling of late, suggesting the presence of special influences. a m a NO matter what the Supreme Court may decide relative to the gold clause, little fear exists that financial markets will be called upon to absorb a wave of panicky selling. Owing to the steady liquidation that has been in progress for weeks, doubtful accounts have been largely eliminated, most brokers say. Many see no reason why the Exchange should suspend trading even if the decision of the highest court is against the government in every particular. a a a THE basic power of electric production which has been making a thoroughly favorable showing for weeks appears to have been entirely disregarded by traders. who decline to indulge in utility speculators. Widespread uncertainty as to rates, the trend toward municipal operation and other phases have completely changed the utility market situation so much so that this group has been unable to reflect business gains which formerly might have produced considerable bullish activity. NOVEMBER BUILDING SHOWS SHARP GAINS Increases From 20 to 563 Per Cent During Month. Timet Special WASHINGTON. Feb. B—Gains ranging from 20 to 563 per cent have been shown in business volumes for November, compared with tiie same month of 1933 of individual companies in the housing field, according to reports received by the Federal Housing Administration. The FHA modernization campaign has been largely re.-pon.Mble for the major increases in several instances, it was reported. The largest increase was shown by the American Radiator and Standard Sanitary Corp. with volume up 563 per cent.

On Commission Row

Quotations be’.ow are average wholesale : prices being offered to buyers by local commission dealers. fruits —Grapes. California Emperors. 27lb bo*. *2.75 Bananas. 4 , c a lb. Apples. Indiana Jonathans *1 65. Golden Delicious. $175,il 85 Lemons. Sunkist. 3605. $4 25 Grapefruit. Texas, seedless. *3 25. Arizona 64s 70s and 80s. *2 50. Limes. Mexican. per carton 12s. 25c: Byram. seedless. per hundred. *3. Pears. Oregon D anjo. box *3.50 Pineapples. 30s. S4 2js 4.50 Avocados. Florida, box. *1.50 Strawberries Florida, pint. 15c per 26-pt crate. 14c Apricots. *3 a crate. Vegetables—Cabbage. Northern Danish 50-lb bag. 75c; red 55-lb bo*. 90c. New Te*a* cabbage 50-ib bag *1 75 Onions Idaho swee Spanish, large. 50-lb. bag. 3Jc wes, ra white. 50-lb. bag. *1 85. Michigan ye'low *1 25 Potatoes. Green Mountains. 100-'.b bag. 8150 northern round white. 100-lb. bag. *1 10; Ohio*. 100-lb. bag *2. Idaho Russets. 100-lb bag. *2. New Texas Triumphs. 50-lb. bag *2. New Florida Triumphs, bushel. *2 50. Sweet Ktatoes. Indiana Jerseys, bushel. *165, nnessee Nancy Halls, bushe.. *1 35. Beans stringless, hampers. *5. Ce’erv. Florida. *4 25 a crate; California. 84 50 t. crate; medium dozen. 75c. Jumbo, doren, 81 25- hearts bunch. *1 60 Cucumbers. 5 dozen in boxes $3.25 9 dozen in boxes. *4 Krdire. per crate *1 50 Egg P ent. *2 25 dozen. Kale, bushel. 75c Lettuce, hot house. 15-lb baske- *1.75 Arizona Iceberg head lettuce. $3 75 Mangoes. Florida, crate. *lO. Mint, bunch. 15c Parsley, dozen. 35- Peas hampers. *3. Spinach. Texas bushel. *2 California, in crate. *4 50 Radiso.es. dozen. 60c Tomatoes. 10lb carton. *140,; 150. Florida original. $3 75 Turnips, bushel. 75c. Parsnips, bushel. *1 35. Beets, bushel. *125. Carrots. bushel *1 25. 100-lb. sack. *1.75. Ail Quotation* subject to change up or down. FRUIT* AND VEGETABLES *Bv United Press • CHICAGO Feb. 8 —Apples—Michigan Mclntosh and Jonaihans aushels. tI.MM 175 Cranberries— Massachusetts > barrels 84 :4 50 Cauliflower California crate $1 25 • 1 40 Cabbage—Wisconsin 100 lbs. 11 -: 125. Michigan. (1U125 Bwet potatoes- Tennessee bushels. *l*i 105 Indiana. *135v150 Carrots—California crates. *2 75-i 3. Turnips—California crates. *2 50-, 275 Lecuce Western crates *5 75 -3 Parsnips—lllinois bushels. 50-r6oc Beets—lllinois bushels. 40 1 60c Beans-Florida bushels igreen *3 75 •• 4 Sttnach —Tex.* bushels. *2- Tomatoes—exican lugs. >3 354(3 75 MW DIRECTOR ELECTED Bv T isaea Spec'll NEW YORK Fob 5 M S Huffman haa been elected director of the Continental Can Cos.. Inc. to fill the vacancy caused by the death of T. O. CrmnweLl, it was announced today.

♦ ♦ Abreast of The Times on Finance ♦ ♦

PAGE 26

BUSINESS NOW FAVORING DOLE AS RELIEF AIM Supporting Proposal to Abandon Federal Public Works Program. BY H. O. THOMPSON United Prut SUft Correspondent WASHINGTON. Feb. B—Business and industrial sentiment today came to the support of the proposal to abandon Federal public works for the “dole" system of unemployment relief. The proposal was defeated in the Senate Appropriations Committee, but its sponsors planned to revive it for floor debate on the issue of direct relief as contrasted to relief I through employment on public projects. This controversy developed increasing bitterness as the whole Administration program— relief, NRA s extension, social security and banking changes—became involved in a tangle of opposition and personal j ticketing. Bill Thought Mistake One Democratic Senator who usually goes along with the Administration said he thought the $4,880.000.000 bill was a mistake but that he probably would “hold my nose and vote for it.” The issue between the “dole” and the public works plan developed unexpected opposition at one point in the committee's lively session Wednesday. The “dole” plan was approved. 9 to 8. The Administration machine went into action, and on reconsideration the vote was tied at 10 to 10, thus defeating the substitute proposal, since its backers failed to get a majority. I Senator Alva B. Adams (D., Col.) is sponsoring the move to reduce the proposed $4,880,000,000 work relief appropriation to $2,880,000,000. While the President would not be required to limit expenditures to “dole" payments, that would be the effect, as the money would not be sufficient for any extensive public 1 works. Business Opposed Spending The joint business conference for ' recovery at White Sulphur Springs, W. Va., last December, went on j record in opposition to any large- ' scale public works program. The conference w r as made up of representatives of the National Association of Manufacturers and the Chamber of Commerce of the United States. Opposition to work relief plan was based on the theory that direct or “dole" relief costs about 25 per cent less. Supporters of the “dole" plan look also to a revival of business for increased employment in the near future. Senator Adams believes that appropriations of $4,000,000,000 annually would be too much of a strain on the government's credit. GRAIN PRICES TREND UPWARD AT CHICAGO Better Tone Displayed on Board of Trade. Ry United Press CHICAGO. Feb. B.—There was a better tone to the grain market today and prices on the Chicago Board of Trade tended higher. What, however, was unsettled at the start and held % cent lower to % cent higher. Corn was up % to *s cent, and rye was up % to % cent. Broomhall reported a better demand generally prevailed in Liverpool and yesterday's advance con- ! tinued. The opening at Chicago was not active and most traders weres content to await developments. ißr James E. Bennett* 11 00 Prev. Wheal— High. Low. A M. close. Mav 96% .96% .96% .95’ July 89% 88’. 89 88'. Sept. 87*. 86 s . 87’. .86’. Corn— Mav 84% .83% .84% 83% July 80% 79 V. 79% 79’, Sept .76’. .76’. .78 7 .76 Oats— Mav 49% .49’. ,49 s . .49’, July 43'. .42% .43 .42’ 2 Sept .41' .40% .41 .40% Rve— Mav 64* a .63% 64’. .63', julv 64 ’ 63 64’, .63', Sept 64% 83% 64’. .63% LOCAL CASH MARKET ' Citv grain elevators are paying 88 cents lor So. 2 soft red wheat. Other giJdes on their merits. Cash corn No 3 vellow 81 cents and oats 45 cent*.

Other Livestock

<By United Press! L\FA"ETTE Feb B—Hogs—Market. 5 tilf- h.gher pigs. 25c higher: 200-225 lbs . *8 1, 225-250 lbs *8 10: 250-275 lbs. $8 0 .‘5-300 lbs $8 300-325 lbs. $7 85: 180-200 lbs 8 10. 160-180 lbs.. SB. 155-160 lbs $7 50. 150-155 lbs . $7 25 140-150 lbs . $7 100-140 ibs $5 : 6 75. roughs. *7 25 do*, calies—Market steady; top. $8 59. If mbs. 50c lower. SBSIB 25 FT WAYNE. Feb. B—Hoes—Market, steady: 200-225 lbs . *8 15. 225-250 lbs „ *8 05 250-300 It'S *7 95 300-350 lbs .$7 65; 180-200 I*-: $8: 160-180 lbs *7 90: 150-160 lbs *' 25: 140-150 lbs. $6 85; 130-140 lbs. $6 35 120-130 lbs . *6 10: 100-120 lbs.. *5.60: roughs. *7. stags. *4 75, calves. *9 50; lambs. *8 50 (By Times Special! LOUISVILLE. Feb B—Cattle—Receipts. 200 salable supply slaughter classes, verylight. most of run stockers and feeders; demand dependable; market fully steady; bulk common to medium grade slaughter s’eers and heifers. $5*,i7.25: better finished kinds quotable *7 50',19 and above; bulk beef cows. *4 i5; good kinds to *5 50 and above for heifer tvpes: low cutters and cutters, mostlv *1.754(3 25: sausage bulls, *4 75 down; bulk better Hereford and Shorthorn stock salves *6'i7; good quoable h-gher Calves—Receipts. 300. including around 75 stock calves: weak to mostly 50c lower: bulk good to choice vealers. S, 8 medium and lower grades, *6 50 down to around *3 50 for light culls. Hogs—Receipts. 800. market. 5c higher: top and bulk better 180-250 lbs . *8 15: 255 lbs. up. *7.70 160-175 lbs *7 40; 140-155 lbs. *6 90. 120-135 lbs , *5 95: sows. *6 40 Sheep—Receipts. 50: market, generally steadv: most medium to good lambs. *74? 8 choice quotable higher: common light throwouts. *6 and fat ewes. *3.50 down. ACQUIRES LINEN MILLS NEW YORK. Feb. B—The controlling interest in the Meredith Linen Mills of Meredith. N. H.. has been acquired by H. Maurice Ross of New York and his associates, it was learned today. The company s assets are placed at (400,000.

INDIANAPOLIS, FRIDAY, FEBRUARY 8, 1935

New York Stocks

ißy Thomson A- McKinnon* 11 a. m. Prev. Oils— High. Low. N. Y. close AM Rfg 24 23’. 24 22% Barnsdall *% 6 6 * 6 Consol Oil , > 7N 7% 7 , C'ont of Del ... 17 3 s 17*. |7 3 17 2 Mid Con- Pet 11*. 11% ll'w 171* Ohio 0:1 9’, 9’. 9. 9-s Phillips Pet 14 3 . 14% 14% 14% Pure Oil % ’♦ ®' 3 Shell Un 6 3 , 6* 6% 6% .3 O oi Cal .. .. 30 30 30 29_* SO of Ind 24 23’. 24 23 , BOof N J 33', 39'.3359 5 39% Trxa- Corn . 19*2 19’. 19% 19;. T:de,a-er Assn. B'. B'. 8% Un Oil of Cal . 15 15 15 15% StffU— Am Roll Mi 115.... 21’. 20*. 21% 20% Be.h Stel 29’. 29*2 29 3 . 29 Fvcrs AM 16 16 16 16 Col Fuel Iron 4’ 2 4‘ 2 4% 4 Inland Steel ... 53’, 53 53’♦ 52% Ludlum Steel ... 16% 16’2 16’2 16 Natl Steel 47 3 . 47% 47% 47% Otis Steel 5 3 , 5 3 5 3 . 5 Rep Iron & Steel 13’. 12% 13% 12% Rep Iron t3 p *o’i 40% 40’2 40*2 U S S-eel 36’. 35'. 36’ 35-. U S Steel pfd 8887 88'4 87 Youngst n S <fc TlB 17*2 18 171. Motors— Auburn 24 23’ 24 23 Chrysler 38 s , 37% 38% 37% Gen Motors 31 5 * 30% 31 s * 30’. Gen Motors pfd.lll'2 11 i 1 a 111*2 . • Graham Mot ... 2% 2*2 2*2 2% Hudson 9% 9 3 9% 9*a Hupp 2”, 2% 2 3 , 2'b Mack Truck 26’. 26 26’, 26 Nash .... 15 7 4 15* 15% 15', Packard 4'2 4 3 * 4% 4 3 s Reo 2'a 2% 2% 2% Studebaker .... 1 1 . 1 ’a Yellow Truck ... 3 ! 2 3*2 3Vi 3% Motor Aces*— Bendix 15*. 14 7 s 15V4 14'i Bohn Alum 54 54 54 53% Borg Warner .. 29’. 28’. 29 3 . 29 Briggs 26', 254. 26', 25', Buda Mfg 4'. 4'. 4’ 4 3 b Budd Wheel 3'. 3 3 . 3% 3', Eaton Mfg 19 18% 19 18% Elec Auto Lite •• 24’. 24 24V. 23 7 Houdaille "A’... 8 8% 8 7 3 4 Mullins Mfg . 9 9 9 B’a Murray Body .. . 6% 6* 6 3 e 6'. Stew Warner ... 7% 7 7 7 Timken Roll 33% 33', 33*2333.2 3 . Timken Det Axle 6% 61. 6% 57s Mining— Alaska Jun .... 17'. 16 3 . 17', 17 Am Metals .... 16 16 16 16 Am Smelt 34% 34 34% 34'2 Anaconda 10% 10 1 . 10% 14 ’4 Cal Ac Hecla .3% 33 3% Cerro De Pasco. 41'2 40% 41'2 40% Dome Mines ... 36%333.6 3 . 36% 36'^ Gt Nor Ore ... 11 11 11 10% Homestake Min 350 350 350 341 Howe Sound ... 45 45 45 44% Int Nickel .... 23*4 22 3 4 23', 23 Kennecott Con.. 17 16'2 17 16 3 4 Mclntyre Mine . 40'. 39 3 4 40 5 , 39'2 Park Utah 2 5 * 2% 2 s . 2% Fhe*ps Dodge .. 14% 14% 14'* 14' a U S Smelters ...112 112 112 111% Vanadium • ... 17 7 , 17% 177* 1674 Amusements— Fox Theater ... 10'4 107. 10% 101, Loews Inc 32% 32% 32% 32 Radio Corp 5% 5 SV. 5 Paramount .... 3% 3 s , 3 3 4 3% R K O 17.I 7 . l 7 a 1% 1% Warner Bros ... 3% 3 s , 3% 3% Tobaccos — Am Sum Tob... 20'. 20’ 4 207. 20 Am Tob (81.. . 81% 80 3 4 81 3 4 80 j 4 Lig & Myers B 106 106 106 105 Loriliard 19 3 4 19' z 19% 19 * 2 Phillip Morris 40 39‘a 40 39 ’2 Reynolds T (B) 47% 47-a 47 3 . 47V Rail*— Atchison 44 *. 4374 44*4 42 5 a Ati Coast Lines 29 29 29 27 3 a B & O 11*2 11 11*2 10 *8 Can Pacific 12 s , 12”4 12% 12 s a Ch & Ohio . 41 7 a 41’2 41 7 41*2 C M & St P pfd 3% 3*2 3 s /. 3 3 a Chi N W pfd ... B*2 B*2 B*2 8 Dela & Hud ... 34’a 33'.33 3 . 33% Del Lac & W 15% 15 15'2 15 Erie ... 11 10% 11 10 3 . Grt Northern pf 14'. 13 3 14', 13'. 11l Central .. 13'. 13 13% 12% Lehigh 8% Bs*8 s * 87a 874 Lou & Nash 4040 4040 MK & T pfd .. 10 3 8 10% 10 3 a 10 Mo Pac pfd .... 2 3 . 2 3 4 2 3 4 2 7 8 N Y Cent 17 3 i 16 7 a 17 3 g 16 s a N Y New Haven 6'a 6'4 6 3 a 6'a N Y Ont & West 4'2 4' 2 4' 2 4*a Nor Pacific • 19 3 4 17‘a 17 3 4 16'4 Penn R R 21 3 . 20 7 a 21\ 21 Reading 36 36 36 36 Sou Pac 15'4 14 5 a 15'4 14 3 a Sou R R 12 3 a 11 3 4 12 3 ll 3 a Union Pac .. 99’e 99’a 99 3 a 98 Equipments— Am Brake Shoe 25 7 s 25 3 4 25 7 a 25*2 Am Car A: Fdy .17 16's 17 16'2 Am Loco 17 17 17 17*2 Am Steel Fdy . 16' 2 16 16’2 15 3 4 Gen Am Tk Car 35 7 a 35'a 35 7 8 35'2 Gen Elec 23' 4 22’a 23’ 4 22 7 a Pullman Inc ... 48 47°a 48 47' 2 West Air Br ... 24 24 24 24',4 Westingh Elec .. 38U 371, 3814 37 Utilities— Am & For Pwr 4 4 4 3 7 i Am Power & Lit 2'2 2'4 2'i 2' 4 AT&T 103 3 4 103*4 103 3 4 104'a Am Wat Wks ■ ll 7 a ll'z 11*2 11 s , Col Gas & Elec 6 3 4 83,B 3 ,6% 6-4 Com & Sou 1 1 a 1 l l ', 1 Consol Gas . 18 ’a !8 3 a 18 5 a 19’a Elec Pwr & Lit. 2 3 4 2 : 4 2’ 4 2 3 a Int Hydro Elec ■ 2'a 2'a 2'a 2'a Int T & T 8 7 s 8 5 a 8 3 4 8-a Lou G & E A 12 7 a 12 7 a 12 7 -, 12 3 4 Nat Pwr & Lit 6’- 6’ 6’a 6 3 a North Amer .... 11 3 4 HV2 11 3 4 ll 7 a Pac G & E 13 7 8 13 7 s 13 7 a 13 3 4 Pub Serv N J . 24* 24 3 4 24 3 a 24', 2 So Cal Edison . 12 11 3 4 11 3 4 12 Std Gas 3*2 3'r 3-2 -'2 United Corp ... 2 3 a 2'a 7*. ijs Un Gas Imp 10 s , 10'2 16 n Ut Pwr & Lt A l'a I*4 1' l’ West Union ..29 28'2 V 2-. Rubbers— Firestone 16'a ’o 16 15'a Goodrich 9 7 * 9 s , 9 7 i 9‘a Goodyear 22'a 21 3 4 21'a 21 3 4 Kelly Spring 17a 1* I*2 1 3 -* U S Rubber . 14 I?‘2 14 13 s a U S Rubber pfd 357a 353335 3 34 l 2 Miscellaneous— Allis Chalmers .. 16*2 16'a 16'2 16'a Am Can ..114', 112*2 114'2 112 s a Am Mach & Fdy 20 7 a 20 5 a 20 7 a 20*8 Brklyn Man Tr. 417, 41*8 41S 40-8 Burroughs Add . 15 14 7 a 14 7 , 1472 J I Case 55 54 3 a 55 54 Conti Can 66'a 65'a 66'a 65!a Caterpillar Tract 397a 39'a 39 3 4 39 Curtis Pub 19 18 3 4 18 7 a 18 Curtis Pub 19 l? 3 a 18', 18 Deere & Cos. 26 3 a 27 7 a 26 3 a 2i'? Easiman Kodak 112 s a ll? 3 a 112 s a 112^. Foster Wheeler 14 146 14 137a I Gillette ■ 13 3 a 13 3 13 3 a 13:, Glldden 25'i i-4 8 J a -4 a Inter Harv 40 s a 40 407. 40 I Natl Cash Reg . 16 16 16 154a Owens Bottle . 88 86*2 88 85 3 a Rem Rand . 9 9 9 8/* Worthing n Pmp 17 17 17 16 2 I Armour s', o’* s* S a Armour 6 pfd 67'2 67 '4 6767 *. Beatrice Cream 17 17 17 17 Borden Prod • 24 23 7 a 24 24'a Cal Packing 39 3 a 38’a 39 3 38'. Canada Dry G A 13 12 7 a 13 13 Corn Prod 64 63'a 64 63*4 Cuban Am Sug.. s*. ssa5 s a 5 5 a a'2 Gen Baking ... 8 8 8 8 'Gen Foods 34 3 * 34'a 34 3 a 34'. Gold Dust 16'a 16 , 16V, 16 G W Sugar .... 27'2 27‘2 27*2 27 3 a Natl Biscuit ... 28 3 a 28'a 28 3 a 28 1 Natl D Prod ... 15 3 a 15*2 la's 15'a Purity Bak .... 9 8 7 a 9 8‘ Std Hrands ... 17 s , 17*a 17*. l.'a Un Biscuit 24 1 * 24'* 247. 24-te Retail Stores— Assd Dry Goods 10 s a 10'2 10 s a 9 3 a Best &Cos 35'a 35'a 35 5 a 35’-. First Natl Stores 49 * 46*2 48 3 a 48*2 1 Hahn Dept Sts . 4 7 4'a 4 7 8 4 s . Jewel Tea 56 56 56 55 5 8 ' Kresge S S .... 20 s . 20 3 . l!0 s a 20’. . Kroger Groc 25'2 25--, 15'a 2o . Macv R H 18'2 38’. 38'. 38'2 McCrory St 10’. 9 3 . 10', 9:, McLellan St 13 13_ 13 13 Marshall Tteid . 8 7 , 8 7 a 8 7 , 8 a Mav Dep- St ... 42 41 41'2 41 Mont Ward 26’. 2o 5 a 26’ 25 ’a Natl Tea 9\ 3'u 3 , 9 3 . j Pennev J C 67 3 67 fii 3 , 66>2 Safcwav St ... 39 38 1 2 39 38 7 a Sears Roebuck . 35', 34*2 35'. 34'2 , Wool worth 54 53 3 4 -'4 54-,

Chicago Stocks

(By Abbott. Proctor Paine) 11:00 Prev. A. M. close. Bendix ** Borg Warner 29% 28_, Butler Bros 6; ?% Cities Service 1% 3 * Crane 9% 9 Com Edison 55% 54 Cord 3% 3% Chicago Mail }* 8 Grt Lakes Dri-dge Libby 7% 6% Kmcsberry 1% .1* Nobhtt Sparks H% 13 a Prima 3% 3% Swift 18. Walgreen 28% 28

New York Curb

ißy Abbott. Proctor & Paine* 12 iNoonj Prev. N. Y close. Allied Mills }3 13 9m Cyanide (B 1 16 1 * 16 Amer Superpower 1 Atlas Corp §* *‘ Can Indus Alco iA> 9’j 9 l Carrier Corp 16’* 16*2 E'.ec Bond & Share s' 5 Gulf Oil of Pa 56 55 1 4 Hiram Walker 30 30 Humble Oil } 6 **:• rke Shore Min 51 50 J * Mt Producers Natl Bellas Hess I*4 1* Nia Hud Pwr 3’ 3S St Regis Paper IS ih Sal Creak Products • a

Aviation— Aviation Corp . 4 s , 4’ 2 4 s , 4’ 2 Curtiss Wright . 2 5 a 2 s . 2'a 2'2 Curtiss Wri 'A> B*2 8 3 a 8' 2 S', Douglas Air..,. 22 3 ,22 H 22 3 22'. Nor Am Av 3V, 3 37', 3 Sperrv Corp .. 9 Bs,8 s , 9 B s , Utd Aircraft r.ew 13 S 13', 13 S 13 Chemicals — Air Reduction .111 111 111 111 Am Com Alcohol 27 3 . 27*2 27 3 27 Col Carbon 73 72 73 71'2 Com Solvents.. 20 3 20 20 3 , 19 7 a Dupont 94’, 93 1 2 94 3 93 Freeport Tex ... 22 21’. 22 20'2 Liouid Carb .... 27‘, 27'. 27'* .26'. Math Alkali .... 28' 2 28 28’2 27' 2 Monsanto Chem 56'2 56 56'2 55 % Natl Dis 1 new).. 27', 26'2 27 26U Schenlev Dist . 25'a 25'. 25 s , 25 Tex Gulf Sulph . 35'a 35'a 3535 Union Carbide 46 3 45 7 , 46 3 8 45% U S Ind Alcohol 37% 36’a 37% 36% Drug*— Bristol Myers .. 33% 33% 33% 34% Coty Inc ....... 5 7 a 5 7 .a 5 7 a 5 7 a Lambert 27 2” 27 27 Lehn & Fink ... 17% 16’, 17% 16% Sterling Prod .. 62% 61% 62% 62 Un Drug inew). 11 10% 11 10% Vick Chem 35% 35% 35% 35% Zonite Prod .... 4 4 4 4 Financial— Adams Exp .... 6 6 6 6 Allegheny Corp. 1 3 . 1% 1% 1% Am Int Corp ... 5* ass,5 s , s s . 5% Chesa Corp 38% 38 38% 38 Transamerica .. 5% 5% SV. 57, Tr Conti Corp . 3% 3% 3% 3 Building— Am Radiator ... 14% 14’% 14% 13% Int Cement 27% 27 27% 27% Johns Manville 51% 50 51% 50% Libby Owens Gls 29% 28 29 27% Otis Elev 14' 2 14% 14% 14% U S Gypsum ... 47% 47 47% 47 Household— Col Pal Peet ... 16% 16% 16% 16% Kelvinator 16% 16% 16% 16% Proc & Gamble . 46% 46% 46% 46 Servel Inc 8% B'/ 8% 8% Simmons Bed .. 9 9 9 Bs,8 s , Textiles— Amer Woolen .. 7% 7% 77a 7% Belding Hem'... 12% 12% 12% 12% Celanese Corp .. 31% 30% 31% 31 Collins Aikmtn.. 12% 12% 12% 12% Indus Rayon ... 31% 30% 31% 30% Kayser Jullu.t... 16% 16% 16% 16

N. Y. Bonds

(Reprinted from yesterday! DAILY BOND INDEX 20 20 20 20 Inds. Rails. Util. Bonds. Today 86.3 81.1 92.1 86.8 Yesterday 86.3 81.5 92.1 86.6 Week ago 86.7 83.5 92.6 87.6 Month ago 86.7 86.4 90.1 87.8 1 Copyright 1935 by the Standard Statistics Cos. Inc.) U. S. GOVERNMENT BONDS (By Fenner & Beane.i Libertys Prev. Close, close. Ist 3%S 1932-47 104.18 -04.16 Ist 4%s 1932-47 103.24 103.25 4th 4%s 1933-38 (Uncalled) 104 1 103 30 4th 4’,s 1933-38 (Caledi(.. 102.2 102.2 Treasurys 4%s 1943-45 114.27 114.25 4s 1944-54 110.5 110.3 3%s 1946-56 108.24 108.23 3 3 sS 1940-41 106.3 106.3 3%S 1943-47 105.24 105.24 3%S 1941-43 106 9 106.6 3%s 1943-45 104.6 104.5 3’iS 1941 105.23 105.22 3’is 1944-46 104.5 104 3%s 1946-49 104 103.29 3%s 1949-52 - 103.17 103.15 3s 1951-53 120.30 102.31 3s 1946-48 102.15 102.12 Home Owners Loan Corp. 2%s 1949 98.20 98.17 3s 1952 102.23 100.21 4s 1951 101.9 101.9 Federal Farm Mortgage Corp. 3%s 1964 104.22 102.18 3s 1949 100.25 100.22 3s 1947-42 100.19 100.21 DOMESTIC Prev. Issue. Close, close. AUeg Corp 5s ’44 687a 68% Alleg Corp 5s ’49 59 59*/, Alleg Corp 5s ’SO 22 22 Am Frgn Pow 5s 2030 56 ’/a 56 Am Tel & Tel SV2S ’43 1127a 112% Am Tel & Tel 5s ’65 112% 113 Arm & Cos (Del) 57as ’!3 103% 103% Atl Coast Line 4s ’52 101 101 Atl Coast Line 4%S 64 . .. 89% 89’a Atch Top & S Fe 4%s ’4B .108 107% Am Wat Wks 5s ’44 94 Va 94% Am Roll Mills 5s ’3B 106% 1067 2 Balt & Ohio 5s ’95 68’/a 66*% Balt & Ohio 6s ’95 78% 77 Balt & Ohio 4%s ’6O 527a 51 Buff Roch & Pitt 4%s ’57.... 65% 65 Beth Steel 5s ’36 104 103% Chi Milk & St PI 5s ’75... 227a 21% Chi Milk & St P 5s ’75 6 6 Chi Milw & St P 5s 2000 . . 100 100 Cleve Un Term 5s ’73 96% 96% Clive Un Term 4%s ’77 887a 89% Col Gas 5s Mav 52 81 80% Col Gas 5s ’6l 77 77 Can Pac Perp 4s 86% 85’a Cent Pac 5s ’6O 77Va 77% Big Four 4%s ’77 72 717, Big Four 5s ’63 79% 80 Colorado & So 4%s ’BO 60 57 Chi & W Ind 4s ’52 96 95 7 /a Chi & W Ind 5 1 is ’62 102% 102 % Chi & Nor West 4%s ’49 ... 18% 16% Con Gas 5s ’57 104% 104 Chesa Corp 5s ’47 104•% 103 V 2 Dodge Bros 6s ’4O 10674 107 Del Huds 4s ’43 86% 86’4 N Y Dock 4s ’sl 647a 65 N Y Dock 5s ’3B 47 48'/a Erie 5s ’75 67% 66% Erie 5s ’67 67% 66% Grt Northern 7s ’36 91’2 90% Grt Northern 4%s ’76 .. 77 76 Grt Northern 4%s ’77 76% 76 Gen Stl Cast WW 5%s ’49 88% :R9’/2 Hud & Manhat Ref 5s ’57 88 88 111 Central 4%s ’66 55 54% 111 Cent 5s ’63 71’/a 70% Inter Hv Elec 6s ’44 46% 45% Inter Tel & Tel 4%s ’39 70 69% Inter Tel & Tel 5s ’55 66% 65% Inter Tel & Tel 4%s ’52 61% 60% McKess & Rob 5%s ’SO 96% 96% Midvale Stl 5s ’36 103% 103 Natl Dairy 5%s ’4B 102% 102’% Natl Steel 5s ’56 106% 106 N’ckel Plate 4%s ’7B 61 1 if 59% Nickel Plate 5%s 74 70% 69 Nirk-.i Plate 6s ’35 64% 62% N Y Central 5s 2013 62% 60 N Y Cen 4%s 2013 (old) 56’% 54% Nor Amer Cos 5s ’6l 84% 84 7 , Nor Pac 3s 2047 74% 747. Nor Pac 4'%s 2047 85 7 , 86’% Nor Pac 6s 2047 99% 99% Nor States Power 5s ’4l 105% 105% New Crleans Term 4s ’53 83% 85% Otis Steel 6s ’4l 837'2 84% Penn Rv 4%s ’Bl 102% 102 Pentl Rv 4%s ’7O 94% 93% Pac G & E 5s ’42 108 108 Portland Gen El 4%s ’6O 5 6 54% Para Public 5%s 50 58 66% Fenn P & L 4%s ’Bl 100% 100% Postal Tel & Cab 5s ’53 47% 47% Rem Rand W W 5%s ’47 99% 99% Sinclair Oil 6%s 104% 104% Shell Union Oil 5s ’47 102% 1022% Sou Pac 4%s ’6B 63% 63V, Sou Pac 4%s ’Bl 62% 61 Sou Pac 4%s ’69 62% 61% Sou Pac 4s ’49 66 63% Sou Rail 4s ’56 . 55% 55 Sou Rail 6s ’56 . 74*/a 75 Sou Rail 6%s ’56 78 78 Sharon Stl Hoop 5%s ’4B .... 83% 85 Texas Pac 5s ’BO 91% 90% Texas Pac 5s ’79 91 *,4 90% Texas Pac 5s 'll 91 90V, Union Pac 4s ’47 1 09 ,, 1 09 United Drug 5s ’53 90% 92% U S Rubber 5s ’47 . 93% 937a NYN H & Hart 65 ’4B 44% 43 N Y N H & Hart 4%s ’67 40 o. Warner Bros 6s ’35 56 54% Western Marv 5%s ’77 99 % 98 Western Marv 4s ’52 92 91% Youngstown S&T 5s 70 ... 92% 94% Youngstown S&T 5s ’7B .... 92% 93% FOREIGN Argentine B 6s ’SB 90% 90% Brazil 8s ’4i AV/? ,2?i 4 Canadian Govt 4s ’6O }25',4 Denmark 5%s '55 1 29. • German 5%s '65 34% •%% German 7s ’49 44% 44 a Italv 7s 'sl 94% 94 Japan 6%s '54 .2}!? ,91% Poland 7s '47 121% 120, Tokio Citv 5%s ’6l 76% 76% Yokohama 6s 61 827a 82% FEDERAL FARM LOAN BONDS (By Blyth & Cos.) Bid. Ask. 4s Julv I. 1946—44 103% 103% 4s Nov. 1, 1957—37 101% 102% 4s Mav 1. 1958—38 101% 102% 4>,s July 1. 1956—36 102% 102% 4%s Jan. 1. 1957—37 102% 102% I 4%s May 1. 1957—37 102% 102 s , 4%S Nov. 1. 1958—38 102% 4'-s May 1. 1942—32 101 101 3 2 4%s Jan. 1. 1943—33 101% 101% 4%s Jan. 1. 1953-33 101 101% 4%s Jan. 1. 1905—35 121 V? J2i-" 4%s Jan. 1. 1956—36 12? 1 * 12?v* 5s Mav 1. 1941—31 101 101% 5s Nov. 1. 1941—31 101 101% DISTRIBUTOR APPOINTED Central Steel & Wire Cos. Named to Handle Arir.co. Bjf Timm Special CHICAGO, Feb. 8.--The Central Steel & Wire Cos. ’.ias been appointed a distributor of Armco stainless steel sheets, plate and strip, it was announced today. The company operates warehouses in Chicago. Detroit and Dayton, and will serve users of stainless steel either from the warehouse or by | direct mill shipment.

AUTO SHARES LEAD ADVANCE ON EXCHANGE General Motors Favorite, Rising 1 3-8 Points as Others Follow. By United Prcm NEW YORfC, Feb. B—Traders bought automobile shares on the Stock Exchange today and they advanced a point or more to lead a recovery today in all groups except the utility. General Motors was the favorite, rising to 31 s 4, up i \ points. Chrysler reached 38%, up 1%, and Auburn 24, up 1. Motor accessory issues also were higher. Purchases of the automobile group issues reflected belated recognition of the gains made by the industry and a good outlook for the future. Railroad shares continued to gain. Farm equipments, gold, silver and chemcial issues were higher. Tobaccos were featured by a block of 7300 shares of Liggett & Myers preferred at 153*2, up a point. The sale involved more than $1,000,000. Among the better gains at noon were American Can. 114*2, up 1%; Atchison 44*4, up 1%; American Tobacco B 81%, up 1; du Pont 94%, up 1%; Freeport Texas 21%, up 111; Johns Manville 51%, up 1%; Owens Illinois Glass 87*4, up 1%; Southern Railway 12%, up 1; Spiegel, May Stern 73%, up 1%; Union Pacific 99% up 1%, and Westinghouse Electric 38*i, up I*4.

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $1,904,000.00 Debits 5,668,000.00 TREASURY STATEMENT (By United Press) WASHINGTON, Feb. B.—Government expenses and receipts for the current fiscal year to Feb. 6. compared with the corresponding period of the previous fiscal year: This Year. Last Year. Expenses . $4,170,498,955.53 $3,724,184,451.59 Receipts . . 2,122,959,800.06 1,752,512,076.47 Deficit • ... 2,047.539,155.47 1,971,672,375.12 Cash bal 2,236.467.635.01 4.273,566,418.90 'BABY BONDS’ Will YIELD 2.5 PER CENT Initial Issue to Go on Sale About March 10. By United Press WASHINGTON, Feb. B.—The first issue of the new government ‘‘baby bonds” will be offered to the public about March 1 at a price between $75 and S7B for each SIOO bond, Thomas Jefferson Coolidge, Under-Secretary of the Treasury, has announced. The bonds will be due at par 10 years after issuance. Holders can resell them to the Treasury at the price they paid. After the first year they will obtain the purchase price plus a sliding scale of interest No restriction has been placed on the amount of the issue. Bonds will be sold through Unioed States postoffices. Because they are non-transfer-able and no market will be maintained in them, Treasury officials indicated they would not be used for collateral loans at the banks. Instead, after two months holders will be able to sell their bonds back to tne government instead of being forced to borrow on them.

Produce Markets

Deliveied In Indianapolis prices: Heavy breed hens, 14c: Leghorn hens, 7c; colored springers. 13c; heavy stags. 9c; Leghorn stags, 7c; old roosters. 6c; ducks, full feathered and fat. 10c; geese, full feathered and fat. 8c; all classes of guineas. 15c; No. 1 strictly fresh country run eggs, loss off. 23c. Each full case must weigh 55 lbs. gross, a deduction of 10c a gound for each pound under 55 lbs. will e made. Butter—No. 1. 38®39c; butterfat, 36c. Quoted by the Wadley Cos. (Bv United Press) CHICAGO. Feb. B.—Eggs—Market, firm; receipts, 2727 cases; extra firsts. 32%c; fresh graded firsts. 32%c; current receipts, 31c'a dirties. 29c: checks. 28c. Butter—Market, firm: receipts. 4438 tubs; extra firsts (90-90% scorce). 35%©35%c: extras (92 score), 36c: firsts 188-89% score). 34%© 35c: seconds "86-87% score). 33%®34c; specials. 36%®37c! standards, 35%c. Poultry—Market steadv to easy; receipts, 10 trucks; hens, 13%®17c: springers, Leghorn. 14%c; broilers, Plymouth Rocfl, 23%c: capons. 6 to 7 lbs.. 23c: old roosters 13© 14c: ducks. 18®21c; turkeys. 18® 20c; geese. 12@15c; stags, 15%c; springers, 19'2© 20c. Cheese —Twins, 17@17'.c; daisies. 17%®17%c; Longhorns. 17%© 17%c. Potatoes —Supply liberal: demand and trading slow; market firm on Russets, steadv on others; Wisconsin round whites. 72%®77%c; one car fine quality. 80c; Idaho Russets. $1.50® 1.55; commercial grade. $1.32%. Arrivals, 66; on track, 289; shipments. 313. CLEVELAND, Feb. B.—Butter Market steadv; extras, 40c: standards. 40c. Eggs— Market, firm; extra white, 31 %c; current receipts. 31c. Poultry Market steady; fowls, 19©’Oc: Leghorn fowl, 16® 17c ducks, light 17® 18c; ducks. 5 lbs. and up. 20® 21c: t’.rkevs. young. 20c: geese. 20c. Potatorj—Maine. 51.15® 1.25 a 100-lb bag; Ohio, mostly. 75© 80c a 100-!b bag. New \ ork. 85c a 100-lb. bag; Florida, [email protected] a bushel.

Hides and Skins

Hides—Green country cows and steers. 3%c flat; green country bulls and glues, 2%c flee; green country calf hides. 4c flat: green country kip. 3!hc; No. 1 large horse ' hides with full heads, shanks, manes and rails. $2.50: medium size, $2 All No 2 grade horse maes, 30c less: glues and ponies half price. No. 1 rendered tallow. 4©4%e: No. 2 at value. Yellow grease. 3%®4c: cars grease. 3%@3V2C.

Retail Coal Prices

The following prices represent quotations ,'rom leading Indianapolis coal dealers. A 25-cent carrying charge per ton will be odded. DOMESTIC RETAIL PRICES Indiana l imp *5.20 Egg 5 03 Nut 480 Brazil BlockLump 6 54 Egg 5.31 Nut 5.04 Glendora—- ■ Lump 5.3425.59 Egg 5.18f 5.43 Nut 4.9535.20 West Virginia and Eastern Kentucky (Group B> 6.7,37.18 Pocahontas and New River, smokeless 7.30 2 8 32 Coke, egg and nut 8.90 Pea Coke 7.40 , Anthracite 10.13912.8*

Eastman’s Plan to Help Men Ousted by Machines Gives Them Up to $3656 — Employe 35 Years Old With Two Years Service Would Be Awarded $187: Co-Ordinator Proposes to Make Certain Distinctions. By Scripps-Hav>ard Xctctpapcr AUianc s WASHINGTON, Feb. B—The recommendation of Transportation Coordinator Joseph B. Eastman that Congress pass a dismissal compensation law for railroad employes brought attention today to a branch of social security which is common abroad, but new in America.

The theory is that a part of the savings from adoption of new labor-saving devices would be passed along’ to workers displaced by the machines. It would not apply to layoffs caused by permanent loss of traffic or to resignations or disciplinary discharges. The Eastman plan proposes lump sum or annuity payments to displaced employes based on their former earnings, age and length of service. Schedules Graduated Mr. Eastman's general formula is a half-month's pay for each year of service, although the schedules are so graduated that workers in the lower brackets would receive a higher benefit payment, in proportion, than those receiving larger rates of pay. To compute the dismissal payment the co-ordinator’s bill provides that the number of years of service would be multiplied by certain fractions of the worker's earnings, as follows: 75 per cent of the first SSO of monthly earnings. 56.25 per cent of the next SIOO and 37.5 per cent of the next $l5O. Would Receive More Men over 35, who, the co-ordi-nator said, find it increasingly difficult to get other employment, would receive extra compensation. From ages 35 to 59 the addition would be 1.5 per cent for each year of service. Thus a man of 50 would have his basic compensation increased 22*4 per cent. Two years’ service would be required before a v/orker would be eligible for dismissal benefits. The minimum payment would be SIOO. Lump Sum Froposed Employes under 55 would receive their compensation in a lump sum; those between 55 and 60 would have the option of a lump sum or a temporary annuity to age 65, and those from 60 to 65 would receive an annuity to death. The principle of seniority, universal in the railroad industry, would be used in determining which employes would be displaced. Those 65 and older would be retired first. The National Mediation Board, established last year, would decide whether dismissals were for reasons covered by compensation. Guards Against Misuse The Eastman bill establishes a test period of eight weeks for determination of whether an employee has been furloughed or permanently dismissed. To prevent misuse of the furlough the measure provides halfpay for the period prior to final dismissal. If the employe is rehired after dismissal the bill provides for the repayment installments of all dismissal benefits he has received. If he obtains employment from another carrier or dissimilar company no repayment would be required. The following table illustrates the amount of lump sum payments which would be paid to employees with average earnings of $l5O a month in the various service and age classifications: —Years— Age. Two. Fifteen. Thirty. 36 $lB7 $1,406 40 201 1,511 45 215 1,617 $3,234 50 229 1.722 3.445 55 243 1,828 3.656 The temporary annuities for employes from 60 to 65 would range from S6O a year for employees of two year’s service to S9OO for those of 30 years’ service. The annuities would become permanent at 65 at the rates provided in the Retirement Act.

Stock Studies

A.M. BYERS $ COMMON STOCK P£„ ■—i catet Share EARNINGS PRICE RANGE scale YEARS ECTED SEPTEIffIER 30 125 ® ' __ ~ B m£s I— 100 TrH'L 5 0 ‘ 30 31 32 33 34 30 31 32 33 34’^ WINCHESTER INSTITUTE OF FINANCE

A. M. Byers & Cos. was originally established in 1864. The company manufacturers about one-half the wrought iron pipe used in this country, also controlling its own coal and coke supplies. Its special processes of manufacture enable this pipe to be made in large quantities at a reasonable price. About one-half its output is distributed through jobbers and used by the building and plumbing trades, while a large proportion of the balance is used for oil pipe lines. Its main plant at Harmony, Pa., is practicaly new. It is well located for receiving raw materials and shipping finished products. FINANCIAL DATA As of Sept. 30, 1934. Common Stock (no pari.. 266.635 shares 7% Preferred Stock (SIOO par) $ 6.307,300 Surpluses 10, ?22n?? Cash and Securities 19i,975 Inventories 1.892.416 Total Current Assets 2,331.187 Current Liabilities 114,229 A. M. Byers was incorporated in 1903 in Pennsylvania. The common stock is listed on the New York and Pittsburgh Stock Exchanges. It currently sells for around 18%. (All Rights Reserved. Winchester Institute of Finance, Winchester, Mass.)

• *‘My Clients Slsß'p Well" Unemployment Insurance For yourself in old age. Enjoy a contented and secure fnture. (Retirement Annuities) R. F. Liitdeman Aetna Life Inxuranca Cos. 10th Floor Illinois Bid*. KI-D 505 —^

What Does It Mean? Mutual Saving* Bank—lnstitutions tchich are U'holly owned by the depositors are known as mutual savings banks. Trustees operate the bank for them. The rate of interest paid io depositors serves as the dividend.

PORKERS AGAIN AT NEW HIGHS Cattle Market Turns Weak; Vealers and Lambs Unchanged. By United Press CHICAGO, Feb. B.—Hog prices soared to the highest level in more than three years at the Chicago Stock Yards today. Prime heavyweights sold at a top of $8.30 a hundredweight on the first round of trading, the highest price paid since July 31, 1931. Limited supplies and a brisk consumer demand account for the rise. Following an advance of from 5 to 10 cents at the Indianapolis Union Stockyards today, porker prices for the second time this week reached the highest levels since July, 1931. With exception of extremely light grades remaining steady, practically all classes were higher than yesterdays average. Receipts today continued light and were estimated at only 4500, marking the third consecutive session in which supplies 'have remained under the 5000 figure. Initial trading was fairly active, with a broader demand prevailing in various classes. The bulk, 160 to 275 pounds, cashed in at $8.15 to $8.25, while 275 pounds and up brought $7.90 to SB.IO. Holdovers numbered 145. With less activity displayed in the cattle market, prices on all grades were weak to slightly lower than yesterday’s best averaage. Nothing was on hand to command top prices. Few odd head of steers sold upward to sl2. No change was shown in veals and prices remained steady at $9.50 down. Receipts were 400. Practically no change was evident in the lamb market and prices ot better grades held at $8.50 to $8.75. Several heavy kinds were quoted at $8.25 down, while throwouts ranged from $6.'50 to $8.25. Slaughter sheep brought $4.50 down. Receipts were 1500. HOGS Feb. Bulk. Top. Receipts 2. 8.00(! 8.10 8.15 2000 4. 8.00(5! 8.25 8.30 4000 5. 8.15(5! 8.25 8.25 5000 6. 8.15© 8.25 8.25 4000 7. B.lo® 8.20 8.20 4500 8. 8.15@ 8.25 8 30 4500 Light light: (140-160) Good and choice. . $7.00© 7.75 Medium 6.50<5) 7.35 Light weight: (160-180) Good and choice.. 8.15© 8.20 Medium 7.65© 8.00 (180-200) Good and choice... 8.20© 8.25 Medium 7.75@ 8.00 Medium weight: (200-220) Good and choice .. 8.20@ 8.30 (220-2501 Good and choice... 7.15® 8.30 Heavyweight: (250-290) Good and choice... B.lo© 8.15 (200-350) Good and choice... 7.95® 8.10 Packing sows: (275-350) Medium 7.15© 7.40 (350-425) Good 7 00© 725 (425-550) Good 6 85© 7.15 (275-350) Medium 6.50® 7.00 Slaughter pigs: (100-140) Good and choice... 5 25® 6.75 Medium 4.25© 6.50 CATTLE —Receipts. 700— —Steers—-(sso-900) Choice $10.25® 12.25 Good 9.25® 11.50 Medium 6.75® 9.50 Common 5.00®: 7.00 (900-1100) Choice 11.75® 13.25 Good 9.50® 12.25 Medium 9 25® 9.75 Common 5.00® 7.50 (1100-1300) Choice 12.25®13.50 Good 9.75© 12.50 Medium . 7.50® 10.00 (1300-1500) Choice 12.25® 13.50 —Heifers— Good 10.00® 12.50 (500-750) Choice 9.00© 10 30 Good B.oo® 9.00 Common and medium 4.00® 8.00 (750-9001 Good and choice.... 8.25®10.50 Common and medium 4.25® 8.25 —Cows— Good 5.75® 7.50 Common and medium 3.50® 5.75 Low cutter and cutter 2.00® 3.50 —Bulls—(Yearlings Excluded) Good 4.75® 5.75 Common and medium 3.25© 4.75 VEALERS —Receipts, 400— Good and choice $9.00® 9 50 Medium ... 6.50® 9.00 Cull and common 3.00® 6.50 —Calves—-(2so-500) Good and choice .... 6.25® 9.00 Common and medium 3.50® 6.25 —Feeder and Stocker Cattle——Steers— (soo-900.) Good and choice .... 5.50® 7.25 Common and medium ..... 4.00© 5.50 (900-1050) Good and choice ... 5.75® 7.50 Common and medium 4.25® 5.75 —Cows— Good 3.50® 4.25 Common and medium 2.75© 3.50 SHEEP AND LAMBS —Receipts, 1500— Lambs. 90 to 120 lbs., good and choice $8 2i® 8 i5 Common and medium 6.00® 8.50 90-120 lbs., good and choice .. 3.50© 4.a0 Sh ("!20-150i Good and choice .. 3.00® 4.25 All weights, common and medium 2.00® 3.25

JeSwiNTAIfoRINC CO. j

r Wi BUY. SELL. and gladly furnish quotations on: Bonds of the United States Government, Its Territories and Insular Possessions Home Owners’ Loan and Land Bank Bonds Indiana Municipal and Corporate Securities General Market Securities Indianapolis Bond and Share Corp. 129 EAST MARKET STREET

UPSWING HELD NECESSARY FOR REALTHALUES Adequate Financing Must Be Arranged, Schmidt Declares. Tho return of real estate to a fair value is absolutely essential to the return of prosperity and we have got to bp able to adequately finance real estate before we can have any real activity in this field. Walter S. Schmidt, president of the National Association of Real Estate Boards, declared yesterday at a meeting at the Claypool Hotel sponsored by the Indianapolis Real Estate Board. “We want to see real estate prosper.” Mr. Schmidt said, “because it is the primary base of taxation. We need people of sound, honest sense and honest views to get us out of the depths. Our problem now -is a problem of rehabilitation of real estate. The major institutions of our nation have billions of dollars invested in that commodity. Many in Attendance More than 450 persons, including representatives of real estate boards throughout the state, members of the Legislature, public officials and representatives of civic trade and luncheon clubs were present at the luncheon. Governor Paul V. McNutt and Mayor John W. Kern, formally welcomed Mr. Schmidt to the state and city. Herbert U. Nelson, executive secretary of the National Association of Real Estate Boards, declared that a recent survey of the leading cities of the country made by the national association revealed that residential vacancies dropped from 17 to 5 per cent. Limited taxation for property owners and assistance tendered by the government agencies, he said, will do much toward raising real estate values. Closed Meeting Held A special closed meeting of directors of the Indianapolis Real Estate Board and the Indiana Real Estate Association was addressed by Mr. Schmidt and Mr. Nelson. They advocated that the local boards broaden their membership by enrolling property owners in the nation-wide movement to obtain fair taxes for real estate. The Boston Real Estate Exchange and the Detroit Real Estate Board have adopted this plan, they said. Frank L Moore, executive secretary of the local board, said that the local directors will be called soon to consider this plan. WATER POWER ONLY 20 PER CENT DEVELOPED West Virginia Tops List With 140,000 Horsepower Increase. By Times Special WASHINGTON, Feb. 8. Although waterpower capacity in Pennsylvania was increased approximately 40,000 horsepower during 1934, the nation's waterpower resources are only 20 per cent developed, according to the Geological Survey. Pennsylvania was second only to West Virginia in the amount its waterpower increased. West Virginia recorded an increase of abou: 140,000 horsepower, in announcing that these two states were the only ones showing a considerable increase, the survey stated the capacity of the nation on Jan. 1 was 16,075.307 horsepower, an increase of 161,856 horsepower. PANAMA TOLLS DROP Use of Cana] Past Month Brought $1,911,094 From 425 .Ships. BiJ Times Special WASHINGTON. Feb. B—Vessels passing through the Panama Canal during January totaled 425 and paid tolls of $1,911,094, against 479 ships which paid $2,159,642 In January, 1934, according to a War Department announcement. During the last six years 2640 i ships have paid $11,953,860, compared with 2598 ships which paid $11,983,394 during the previous corresponding period.

INSURANCE All Kinds With the Exception of Life A. J. Wichmann & Cos., Inc. 712 Circle Tower

BE SAFE Insure Your Car Today fcSaKsSstate Automobile Insurance Ass’n. M-H571. 7th Floor Ocrldpntal Bldg.

Ba * u BT *** DIRS " , ,3.360.0^ ’ Ift