Indianapolis Times, Volume 46, Number 252, Indianapolis, Marion County, 1 March 1935 — Page 30

Wall St. England's Plans on Gold of Concern to Financiers. _-B\ RALPH HEXDERSIIOT

Time* Skcul Writer ILTEW YORK. March I.—Wall J. m street has becun to wonder what England has up her sleeve, if anything. Gold has established a new high price in London in terms o t pound sterling, and the old dol-lar-pound ratio o! $4 to the pound has been re-established through price movements in the foreign exchange market Some foreign ex-

change authorities are convinced that the British Exchange Equalization Fui.d has been used freely to bring about these conditions. When the United States devalued her currency one of the primary reasons for the action was to give her an advantage over other countries in inter-

f

national trade. It had the same effect as a reduction in our prices, because England, for instance, could buy more dollars with sterling and. consequently, more of our goods. Exchange manipulations have eliminat'd that trade advantage so far ns England is concerned. England can ouy no more dollars with sterling than she could when both nations were on the old gold basis. Sterling has been depreciated in terms of gold as much as has been the dollar. Quite naturally the question arises whether further pressure will be exerted against sterling in order to force it below the old ratio so that El-land may gain a trade advantage over this country. a m a IT may be that England seeks the re-establishment of the old ratio rather than the best of the arrangement. In fact, indications would ceem to point definitely in that direction. The United States also has a huge equalization fund, and it is quite possible that our authorities would start digging in with it in case the situation became acute. There is every' reason to believe London us not desirous of starting a currency battle. Moreover, our gold price is now $35 an ounce. The open market price in London in sterling reduced to dollars has been under that figure. Consequently other countries, such as France, would be inclined to buy gold in London and send it to the United States to cover her trade balances, thus draining London of gold. ana Baldwin locomotive officials are said to have been put “on i the pan ’ by the Securities and Exchange Commission for releasing the ] company’s annual report to a group of people in the financial district before it went out to stockholders and the public at large. The report is said to contain statements to the effect that a reorganization is reeded to strengthen the company's capital structure, which had been weakened bv several years of unsatisfactory business conditions. Baldwin’s bonds broke sharply on receipt of this news, and those who were on the ’inside" were in a position to “clean up.” REAL ESTATE BOOM FORECAST BY EXPERT D. S. Wenzlick. St. Louis Analyst, Predicts llousing Shortage. Within the next two or three years. Indianapolis and other large cities will see a housing shortage that wall result in great activity in the real estate field and a tremendous increase in values. Delbert S. Wenzlick. St Louis real estate analyst. told the Indianapolis Real Estate Board yesterday at the Washington. Two years ago. in a visit here. Mr. Wenzlick saw only a dull and unprofitable future for real estate brokers, but yesterday he admitted that the situation had changed. PLANT TO EXPAND Perfect Circle to Build New Shipping Quarters and Warehouse. By Timra Special HAGERSTOWN. March I—Plans for construction of anew warehouse and shipping buildmg for the Perfect Circle Cos have been completed and work has been started, it was announced today by company officials. The new building, which will cost approximately $60,000. is one of the last units of an extensive building program. The structure will be 100 by 100 feet and constructed of reinforced concrete with brick curtain, it was stated.

On Commission Row

Quo?*: ions below are average wholesale pr.ce> being ottered to buyers br local commission dealers. t Fruits—Bananas. S';C> lb Apples. InKiana W.nesaps $1 *5. Golden Delicious. ■ 1 85. Lemons. Snnkisi. 2605. $4 25. GrapeBruit Texas. seedless $2 TS: Arizona. M4S. 79* and 80s $2.50. Limes. Mexican, [per carton 12s. 25c. Bvram. seedless, per [nundred $3 Pineapples. Porto Ricans, half crates. $3 50 Avocados. Florida, box. $1 50. Strawberries. Florida pint. 14ft 15c. 38-pt. era'? $6 Apricots, $3 crate. Vrtetablea—Cabcace. Northern Danish. 50-lb. bag. $1.35 red 50-lb. box. $1 25. New Texas cabbage. large crate, $3 25. Onions. sweet spamsh. large 50-lb. bag $3 Michigan yellows. 50-lb bast. $2 75. Potatoes. Green Mountains. iPO-lb. bag. $1 50 northern round white. 100-lb bag $1 ir.umrhs 50-lb. bag $2 2o; Ohios. 100-lb bag $2. Idaho Russets. 100lb bar ii 90 New Florida Triumphs, bushel. $2 Sweet potatoes Indiana Jersevs. bu>hei. $1 ti. Tennessee Nancy Halls, bushel. $: 3? Beans, round stringless, hamper. $1 75 : 2 ;s. Celen Florida $4 25 crate California. $4 crate: medium, dozen. 60c: jumbo, dozen. 80c. Cucumbers ho: house, dozen. sl4' 2 dozen box. $2 50. Enatve Cali:-rr.:a dozen. 90<: peck basket. $2 Futg plant. $2 50 dozen Kale, bushel. Me. Lcituce hot house 15-lb basket. $1 15 Ari2or.a Iceberg head lettuzc $3 50. Mar.fo*s Florida, crate. $6 50. Mint, a dozen. 1 Parsley, dozen. 35c Peas, hampers. 82 75 Spinach. Texas. bushel. $1 35. Radishes dozen. 45 SOc. Tomatoes 10-lb. carton. $l6O. Florida original. $2 75 Turnips bushel. 75c Parsnips, bushel. 81 35 Beets, bushel. $1 25. Carrots bushel. 8125: 100-lb sack. $1 75 Rhubarb, hot house 5-lb. carton. 45c. Mushrooms, lb., 30 335 c All quotations subject to change up or Mown. FRUITS AND VEGETABLES •Bv United Press* CHICAGO March 1 —Apples—Michigan Mclr.-ish. bushel. $l5O-i175. Jonathans, ■gill 31 50<|! 75 Turnips—l. bushel. 30M35C Lettuce—Western crates 82 25ft3 96 Parsnips-Illinois bushels 50 <J75c? Carrws-Cal:lorr.:a. crates. $2 50ft 375 Sweet Potatoes—Tennessee, bushel. 85c 81 16 Indiana $1 35 :! 50 Beans— Flo..fa. bushel, $1 50ft2 Bp-nach Texas huehel. 81 25 -i 150 few sl*s Bee'S—ZUmo.s. buihe. 40SOc Cibfca.'e—Wisconsin 1W lb* $2 25 Onion Se's—Michigan. sacks, a bushel. Fellows. No. 2.

♦ ♦ Abreast of The Times on Finance ♦ ♦

PAGE 30

MINING ISSUES MOVE UPWARD IN DULL DEALS Higher Spot Prices for Gold and Silver Encourage Share Buying. By I niter! Prt at NEW YORK. March 1 Prices firmed fractions to 2 points in dull morning trading on the Stock Exchange tdoav. Silvers were bid up as bar silver in London rose to a six-year high, and silver futures at Montreal made new tops since creation of that market in October. U. S. Smelting reached 120%, up 2%, while Ar.ierii can Smelting was at 35'*, up l 1 *; Cerro De Pasco 44. up 11-.l 1 -. and Howe Sound 48. up 112.l 1 2 . Gold mining issues followed the London gold quote upward. The latter made a record high. Cola-Cola jumped nearly 5 points to 179 %. anew 1934-35 high, iq the special issues. Tobaccos and sugars continued their advance. Canada Dry made anew low at 9%, off 2 points. Spiegel. May. Stern also made a new low at 67%, off I’ 2 . Leading industrial issues were j steady to firm, with U. S. Steel. Chrysler and General Motors un- ! changed and American Can up frac- ( tionally. Standard of New Jersey ' spurted more than a point to 39% in the oils. Utilities were about unchanged.

Ralph Ifendershot

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $1,952 000 00 Debits 6.440 000 00 TREASURY STATEMENT (By United Press) WASHINGTON. March 1— Government expenses and receipts lor the current fiscal vear ’o Feb. 27. compared with the corresponding date of the previous fiscal vear: This Year Last Year. Expenses $4 V 05.487.368 89 $4 209.259,131 61 Receipts . 2.255.037 020.45 1 880.050 770 99 Deficit . 2 250 450.348 44 2 329 208.360,62 Cash baV 2.085.507 060 26 4,949 649.027.70 EASIER ALIEN TONE SENDS GRAINS DOWN Prices Fractionally Lower in Early Dealings. By United Press CHICAGO. March I—An easier tone at Liverpool brought liquidation into grain futures on the Board of Trade today and prices eased fractionally. Deliveries in the British market were smaller than expected, but the presence of undesirable grades exerted an unfavorable market influence. Broomhall said: “Market dull and lower. Tenders amounted to 824.000 bushels of wheat, which caused some liquidation in March, but this was offset by the continued active buying by China and Japan.” Chicago’s market was not particularly active. Commission houses and locals led the selling. <Bv James Bennett) 1100 Prev. Wheat— Hieh. Low A M. Close. M.n 97% 97 97% .97% Julv 92 s * 92% 92% 92% Sept 91 s * .91% 91 s , .92 Corn— Mav 84% 83% 84% 84% July 79 5 , 79% 79% .78% Sept 75% .75% 75% .75% Oat*Mav .. 50% 50% 50% 50 Julv 43 s , 43% 43 5 , ... Sept 41% 41% .41% ... Rve— Mav 64% 64 64% 64% Jdlv 64% 63% 64% 64% Sept ......... 63% .63% .64% .64% LOCAL CASH MARKET Citv gra n elevators are paving 90 cents for No 2 soft red wheat. Other grades on their merits. Cash corn No. 3 yellow 82 cents and oats 48 cents.

Produce Markets

Delivered In Indianapolis prices: Heavy breed hens. 14c: Leghorn hens. 9c; colored sprincers. 13c: heavy stags. 9c; Leghorn stags. 7c: old roosters. 6c: ducks, lull leathered and fat. 10c; geese, full leathered and fat. 8c: all classes of guineas. 15c; No. 1 strictly fresh country run ezes. loss of: 17c Each full case must weigh 55 lbs. cross, a deduction of 10c a pound for each pound under 55 lbs. will be made. Butter—No. 1 35 j 36c; butterfat. 23c. Quoted by the Wadlev Cos. Bv United Press* CHICAGO March I—Markets steadv: receipt'. 12.025 cases extra firsts. 2I l c: fresh graded firsts. 21c current receipts. 20c dirties. ISftc checks. 18c Butter — Market weak: receipts. 10 006 tubs, extra firs's 90-21’.- score'. 30 ! ; >81c; extras ,92 score* 31 'c. firsts '88:894 score'. CO’v '3o' 4 c. seconds 86 -1874 score*. 29ft 29 : -c specials. 31 3 ft32'c: standards. 31c* Pouftrv—Market steadv to weak: receipts. 28 trucks. hen* 17’.-ft'2oc Leghorn hens. 18c. springers. Leghorn. 14 4c: springs. 20c. broilers. 22 .-/ 23c. capons. 6-7 lbs 23c: old roosters 134 ft 144 c: ducks. 174 c. turkevs. 19 r2lc: geese. 14c: s• ag; 16’ -c. fryers. 22’. , 23c Cheese— Twins. 164’17c: Daisies. 17V*j17’.-c: Longhorns. 174:18c Potatoes—Supply liberal, demand and trading slow, market weak W.sconsm round whites. 7*’: •/ 75c; commercial grades. 70c Idaho russets. $; 45 1 s*’ Sales to Jobbers—Bushel crates. Florida Buss Triumphs washed. $1 75 Arrivals. 49 on track. 261; shipments. 785. CLEVELAND March 1— Butter— Market, weak extra 35c standards. 35c Eggs— Mirket steadv. extra white. 204 c: current receipts. 204 c Poultry—Market, firm, fowl under 6 lbs. 25c. oxer 6 lbs. 21c ducks young. 24 •; 25c. ducks old. 20c Potatoes- Maine. $1 10-,. 1 15 a 100-lb. bag: Ohio mostly 75ftSOc a 100 lb. bag: Michigan 82 . Ssc a 100-lb, bag BUSINESS FAILURES IN U. S. AT NEW HIGH Total 285 in Week Ended Feb. 21. Largest in 18 Months. By r.mcs Speciol NEW YORK. March I.—Busiress failures in the United States in the week ended Feb. 21 were the largest for any week in the last year and a half, totaling 285. compared with 233 in the previous week and 255 in the corresponding 1934 week, according to a report by Dun & Bradstreet, Inc. Compared with the previous week, the increase was mainly in Eastern and Pacific coast states. A small rise was noted in Southern states, while a decrease was shown in the West, the report said. Defaults with liabilities of SSOOO or more in each instance numbered 185. against 139 in the previous week and 154 a year ago. Canadian failures were reported at 37, against 30 last week and 35 a 'J- ago.

COMPLETING FIRST “BABY BOND” SALE

p|| ygs VP | "^B?^ 1 ¥ **jj| i 'i_ > -'~*>lifl|^^^j^^^^^fl|^Hfl^|2j£9| Hf *’**-* ’• f-' * t ■•■ " ?A jSffif*i JBBrff^^^^ i 'xy/'V/AvSji^A^yi^wvs ■nil > & y *'y-Wffi< *

Murl Bridgewater, clerk in the post office, is shown handing over the first “baby bond” to be sold in Indianapolis. The buyer is William H. Meub, local insurance man. The transaction took place in the office of Postmaster Adolph Seidensticker at 10 o’clock when the securities were placed on sale at 14,000 post offices throughout the country.

New York Stocks

ißy Thomson & McKinnon> 11:00 A. M. Prev. Oils— High. Low. N. Y. close. Atl Rfg 23U 23> 8 23’i 23>* Barnsdall 6'* 6‘* 6'* 6'* Consol Oil 7* s 7 7% 7’2 Cont of Del .... 17' 2 17% 17> 2 17'* Houston (new).. 2 3 4 2 3 4 2 3 * 2 3 4 Mid Cont Pet .. 11'* 11*4 11'* 10 7 a Pet Corp B's B's B's 8 ! s Phillips Pet 14 3 4 14V* ... 14% Plymouth Oil .. B's 8 B's 8 Pure Oil 6 3 * 6% 6 3 * 6% Shell Ur. 6' 2 6>a 6>a O-s Soc Vac 13 13 13 13 SO of Cal 29% 29% 29 5 s 29 3 * SO of Ind 24 3 8 24% 24 3 s 24 3 s S O of N J 39 1 s 38 1 4 39 1 s 38 Texas Corp 19 5 s 19'a 19% 19% Tidewater Assn.. 8% 8 5 s 8% 8% Un Oil of Cal ..16 16 16 16*8 Steels— Am Roll Mills .. 19% 19% 19% 13.a 3eth Steel 26% 26% 26% 26% Col Fuel & Iron 3% 3% 3% 3 Inland Steel ... 52% 52'4 52 1 2 52 Lualum Steel . 15% 15% 15% 15 Rep Iron A- Steel 11% 11% ll 5 s 11*8 Rep Ir & St pfd 37 37 37 36 7 s U S Pipe & Fdv. 17% 17 3 4 17 3 4 17% U S Steel ... 32'* 32 32% 32% U S Steel pfd .. 80 1 * 80 80% 80 Motors— Auburn 23 23 23 22% Chrysler 36'i 35 7 s 36 3614 Gen Motors 29 * 29' 2 29% 29 3 4 Graham Mot ... 2’* 2% 2 1 * 2 3 a Hudson 9% 9% 9*2 9% Hupp 2'* 2*4 2* 2% Mack Truck 24® 23 7 s 24 24‘a Nash 15% 15’ a 15*8 15 Packard 4% 4% 4% 4 Reo 33 33% Yellow Truck ... 3*4 3Vi 3*4 314 Motor Access— Bendix 14 5 s 14% 14 5 s 14% Borg Warner ... 33% 32% 32% 32% Briggs 28% 28'a 28% 28 % Budd Mfg 4*B 4 ! s 4% 4% Eaton Mfg 18 1 8 1' 7 8 17 7 s 18% Houdaille "A” .. 8 7% 8 8% Murray Body 5 7 s Stew Warner ... 7' 2 7% 7*2 7 5 Timken Roll 33 3 4 33 3 * 33 3 * 33% Timken Det Axle o-'a 5 0 8 5% 5-* Mining— Alaska Jun 17 16 5 a 17 16% Am Metals 15% 15 a s 15% 15 Am Smelt 35% 35 35% 34% Anaconda 9% 9 3 * 9 7 s 9 3 4 Cerro De Pasco. 44 43 43 7 s 42 5 s Dome Mines 39% 39 39 3 a 38 7 s Granby 6 6 6 5% Howe Sound .... 47 3 * 46 471* 46 1 2 ! Ins Copper .... 2' 2 2% 2% 2 1 2 j Int Nickel .... 23 3 8 23*8 23 3 a 23 1 2 Isl Creek Coal .. 33 1 * 33'* 33'* 3?% Kennecott Cop . 15 3 4 15 1 2 15 3 4 15 3 4 Mclntvre Mine . 43% 43 43% 43 Park Utah 2 3 4 2% 2% 2 ! 4 Noranda Cop ... 33 7 s 33 1 * 33% 33 1 * Phelps Dodge ... 15 15 15 14 7 8 St Joe Lead ... 13 12 3 * 13 13 U S Smelters... 120% 118 120 1 * 118 Amusements Croslev Radio . 14 1 2 14 1 2 14*2 14 1 2 Fox Theat ... 10 10 10 9% Loews Inc 35 3 4 25% 35 3 4 35 1 2 Radio Corp .... 5 4% 4 7 s 5 Paramount 3’* 31* 3 1 * 3 3 s RKO 1% 1% 1% l s s Warner Bros ... 3% 33% 3 Tobaccos— Am Snuff .. 68% 68 1 2 68% 67% Am Tobacco • B" 81 80% 80% 80 3 4 Ligg <g Myers B 106 106 106 105 3 4 Lorill.ird 20's 20 20'a 20'a Reynclds Tob 8..48's 48 48 l a 47 3 * Rails— Atchison 40% 401* 40% 40 5 s Atl Coast Lines 25' 2 25 25% 25% B & O 10‘s 10% 10 7 8 10's Can Pacific ... 11% 11’* ll 3 s 11 3 b Ch & Ohio ... 41 3 * 41 3 * 41 3 4 41 3 * Ch; & Gt W .. 3 4 3 4 3 * 3 s CM&StP . 2 2 2 CM & St P pfd. 2 5 s 2 3 a 2% 2 5 s Cii N W 3 3 4 3 3 4 3 3 4 3 3 4 D’l Lac & W .. 13 3 4 13 3 4 13 3 4 13% Er.e 9' 2 9 3 s 9*2 9% Erie pfd 11 11 11 11% Grt C'orth pfd .. 12' 2 12% 12 1 2 12% Lehigh Valley .. 6 3 4 6's 6% 6 3 4 M K & T 3 3 s 3% 3> 4 3% Mo Pac pfd 2% 2% 2 1 a 2% N Y Cent 15% 15' g 15% 15% N Y New Haven 4' 2 4' 2 4% 4% Norfolk A- West 165 165 165 167% Nor Pacific .... 15 1 2 15% 15% 15 3 4 Peunn R R 20 19% 20 20% Sou Pac 14 3 4 14 3 s 14 3 4 14% Sou R R 9 % 9‘ 2 9’ 2 9% Union Pac 94% 94'2 94'2 94; 2 Wabash l 3 s 1% 1% I‘ 2 Euipments— dw Am Brake Shoe 27% 27'2 27'2 27 Bald Loco 2 1% 2 1% Gen Elec 23's 23 23 1 s 23's Gen F R Sie . 23 23 23 24 % Pullman Inc ... 47 3 8 47% 47% 4i'b West Air Br ... 21 5 s 21*s 21% 21 Wectingh Elec . 37'4 37‘4 37'4 3. 3 s Utilities — Am Power & Lit 2's 2' 8 ~2‘s 2's AT&T 5 3 * 10a s 105 a Col Gas & Elec 4 7 s 4 3 4 4 7 a 4 3 4 Com & Sou 1 I 1 .1 Consol Gas 18 1 2 l"8's 18 3 s Int Hvdro Elec . 1 3 4 1 3 4 1 l'a Int T & T ... 7 3 4 7 5 s 7*a 7 3 4 Nat Ptvr & Lit.. 5 ! 4 5 s's s‘b North Amer .... ll’-4 ll's ll's ll 3 s Pac G& E 13'2 13>4 13'2 13*2 | Peoples Gas .... 18 3 4 18 3 4 1 8 3 4 1 9 j Pub Serv N J... 21 5 a 21 3 a 21 3 8 21 5 s ; So Cai Edison... 11 3 4 ll’s ll 5 a 11'2 I Std Gas •• 2' 2 2' 2 2' 2 2' 2 i Stone & Webster 2 7 s 2 7 s 2 7 s 3 | United Corp l 7 s 1 3 4 l 7 s 1 3 4 Un Gas Imp ... 10 10 10 10 1 Western Union . 25 3 4 25\ 25 3 * 25 3 4 ; Rubbers— Firestone 15 5 a 15 5 s 15 5 s 15 3 4 Goodrich 9 3 s 9 3 s 9 3 s 9*s Goodyear 20 3 s 20 1 a 20 3 s 20 3 Kelly Spring 1 1 4 I'4 I‘* l 3 a U S Rubber ... 13': 13' 2 13'j 13*s Miscellaneous — Allis Chalmers .. 16's lft's 16's 16^s Am Car. 118'2 117 3 8 118'2 117 s Am Mach & Fdy. 21 20 3 20' 2 21 3 4 Burroughs Add.. 14 7 s 14'8 14 3 Conti Can ■ 71 7 s 71’s 71 s i2 Caterpillar Tract 42'2 42 42'4 42 Curtis Pub 18' 2 18 : 2 18'2 18'4 Deere & Cos .... 28 28 28 28f 8 Eastman Kodak 121 7 2 121 121 ! 2 120 8 I Gillette 14'a 13 7 b 14 13 3 4 Glidden 26*8 26*s 26*a 26'a Int Bus Mach ..160 160 160 159 i Inter Harv 39 3 4 39% 39*4 39'a Natl Cash Reg . 15'-* 15>4 15 3 4 15*a Owens Bottle ... 89 3 * 89 3 4 89 3 4 89^s Rem Rand 9 1 * 9's 9 l s Foods— Am Sugar 67*4 7 l 67' 2 Armour r:* 5 4 s _5 5 Armour 5 77 - pfd AB’j 68'2 68' 2 68'2 Borden Prod • 24‘t 24*4 24 3 < 24 7 s ! Can Dry G Ale U'j 9*b 10 ll*s Coca Cola 179*4 175’s 179*4 175 Corn Prod 64’* 64*8 64 1 2 64'; Crm of Wheat 39 39 39 39 Cuban Am Sugar 6*s 6’* 6* 6’a Gen Baktr.g .... B** B*s 8* B*2 Ger. Foods 34’ 34*s 34 7 s 34 J s G W Sugar 31*. 30 7 8 31's 30's Loose Wues .... 35 35 35 35*2 Natl Biscuit .... 26 7 26** 26** 26 7 a Nat! D Prod 16 3 * 16 3 * 16** 16** S Porto Rico Sug 23'2 23 1 2 23'; 23*8 S'd Brands .... 17** 17 17** 17 j United Fruit Retail Stores— Assd Dry Goods. 9 s * 9* 9 3 * 9'a Gimbel Bros —. 2 3 * 2 3 * 2 3 * 2 7 * j Jewel Tea 57 S6'-a 56'a 56*4 I Kresge S S 20 3 * 20* 20* 20 7 Kroger Gros .... 24 3 234 g iibm 23 3

INDIANAPOLIS, FRIDAY, MARCH 1, 1935

Macy R H 37 37 37 36% McCrorv St 9% 9% 9% 10 McLelian St. ... 13% 13% 13% 13 Mont Ward ... 24% 24% 24% 24% Natl Tea 9 9 9 9 Pennsv J C 67 67 67 67 Sears Roebuck .. 33% 32% 33 33% Woolworth 55 54% 55 54% Aviation — Curtiss Wright... 2% 2% 2% 2% Curtiss Wright A 7% 7% 7% 8 Douglas Air .... 20% 20% 20% 2C% Nor Am Av ... 2% 2% 2% 2% Sperry Corp .... 8% 8% 8% 8% United Air New . 12 11% 12 12 Chemicals Air Reduction. .111% 111% 111% 112 Allied Chem 135% 135 135 134 Am Com Al;ohol. 26% 26 26% 26% Col Carbon .... 75% 75% 75% 75% Com Solvents .. 20% 20% 20% 20% Dupont 92% 92 92% 92% Math Alkali 26% 25% 26% 27 Monsanto Chem. 59 59 59 58% Natl Dis (new).. 26% 26% 26% *26% Schenlev Dist... 25% 25% 25% 25% Tex Gulf 33 32% 33 33% Union Carbide . 46% 46% 46% 46% U S Ind AiCO... 40% 4040% 40 Drugs— Coty Inc 5% 5% 5% 5% Lambert 27% 27% 2727% Lehn & Fink .. 22% 22% 22% 15% Sterling Prod .. 64% 34 64 63% Un Drug (new) . 10 10 10 10 Vick Chem 35% 35% 35% 35% Zonite Prod .... 4 4 4 4 Financial— Adams Exp ... 5% 5% 5% 5 3 4 Transamerica .. 5% 5 5% 5% Tr Conti Corp .. 33 3 3'/8 Building— Am Radiator .. 12% 12% 12% 12(4 Gen Asphalt .... 14% 14% 14% 15 Int Cement .... 26% 26% 26(4 26% Johns Manville . 46% 45% 46% 46% Libby Owens Gls. 27 27 27 27 U S Gypsum ... 45% 45% 45% 46 Household— Col Pal Peet ... 17% 17% 17% 17% Congoleum 31% 31 31% 31 Proc & Gamble • 49% 49 49% 49% Servel Inc .... 8% 8% 8(4 834 Simmons Bed .. 8 8 8 8(4 Textiles— Beldine Hem Celanese Corp .. 29% 28% 29% 28% Collins Aikman . 12% 12% 12% 12% Gotham Hose ... 3% 3% 3% 3 3 s Indus Rayon ... 31% 31 31% 31%

Chicago Stocks

(Bv Abbott. Proctor & Paine) 11:00 Prev. A. M. close. Butler Bros 7% 7(4 Bendix 14% 15 Borg Warner 32% 32% Chicago Corp 30 30 Cities Service 1 l Com & Edison 54% 54% Perfect Circle 32(4 32 Quaker Ooats 133 132 Swift 17% 17% Swift Int 35% 30% Vortex Corp 18 li% Walgreen 28% 28% Zenith i% 1%

New York Curb

ißv Abbott. Proctor & Paine) 12 Noon. Prev. N. Y. close. Allied Mills 13 7 s 14 Alumn Cos of Am 39*4 39*4 Am Cyanide “B" 16 3 s 16% Atlas Corp 7*4 7*4 El Bond & Share 4*B 4 3 a Ford of Europe 7 3 4 7 3 ,4 Humble Oil 48 48 *4 Lake Shore Min 55 54 3 s Nia Hud Pwr 3% 3_ Penn Road 1% l°s Salt Creek Products 5% 5% Teck Hughes Gold 4% 4'a HANCOCK PAYS LARGE AMOUNT TO HOOSIERS Indiana Policynoldprs Receive Sl.458,003 From Life Insurance Firm. By Times Special BOSTON. March 1. A total of $1,458,003 was paid out to Indiana policyholders or their beneficiaries by the John Hancock Mutual Life Insurance Cos. of Boston during 1934, company officials announced today. Total amount paid for death claims, endowments and annuities during the year was $91,877,154.03. New paid-for insurance written by the John Hancock Cos. in Indiana last year amounted to $9,534,820, bringing the total of company paidfor insurance in force in that state to 569.072.004. Total amount of new insurance written by the company last year was $532,659,313. making a total of $3,473,967,189 in force as of Dec. 31, 1934. NEW CARS ANNOUNCED Coupe. Sedan and Special Model Manufactured by Plymouth. By United Press DETROIT. March I—Plymouth Motor Corp. today announced three additions to its 1935 line, including a lower priced business coupe and a two-door stdan. The coupe will sell for $510; the sedan for $535. both f. o. b. Detroit. Also announced was a special highwheel model with extra road clearance for rural travel. PLATINUM OUTPUT RISES By Times Special NEW YORK. March I.—South American Gold & Platinum Cos. has reported that, based on preliminary figures, gold and platinum production for January amounted to 7874 ounces of crude metal, compared with 6073 ounces in January of 1934, an increase of 27 per cent.

SWINE MARKET TURNS UNEVEN; SUPPLYJIGHER Lightweights Move 15 Cents Higher: Others Remain Unchanged. With a slight increase in receipts and trading interest centering | around the lightweight division, porker prices at the Indianapolis Union Stockyards today were steady in most weights and gener- j ally 15 cents higher than yesterday in the lighter classes. Early supplies w r ere estimated at 4500, the largest on hand during the last three sessions. Only 3000 were available to buyers in the previous session. The bulk, 160 to 400 pounds, was selling at $9.30 to $9.55. Top price, however, remained at $9.60. Extremely light grades, scaling 100 to 130 pounds, brought $6.65 to $7.65. Packing sows sold at $8 to $8.75. Holdovers were 162. Activity was scarce in the cattle market, especially in slaughter steers and heifers, where prices were mostly unchanged. Early supplies consisted mostly of cows with a weak undertone prevailing. Few steers sol dat $6.50 to $10.50, while cows brought $4.25 to $7.50. Vealers again were sharply 50 cents higher, salable at $10.50 down. Trading continued at a slow pace in the lamb market with interest still lacking. Majority of classes, however, remained stationary. Bulk of better classes was salable at $3.85 to $9. Few throwouts ranged from $6.50 to SB, while slaughter sheep sold at $5 down. Receipts numbered 1600. HOGS Feb. Bulk. Top. Receipts. 23. $9.25@ 9.35. $9.35 10001 25. 9.30@ 9.40 9.45 4000 26. 9.40® 9.50 9.55 5000 27. 9.30® 9.45 9.50 4000 28. 9.30® 9.55 9.60 3000 Mar. 1. 9.30® 9.55 9.60 4500 Light light: 1140-1601 Good and choice. . $8.40® 9.15 Medium 7.90® 8.95 Light weight: <l6O-180; Good and choice... 9.30® 9.40 Medium 8.75® 9.15 <IBO-200) Good and choice.. 9.30® 9.45 Medium 8.90® 9.25 Medium weight: _ (200-220) Good and choice... 9.40® 9.a0 (220-250) Good and choice.., 9.45@ 9.60 Heavyweight: . „„„ (250-290) Good and choice... 9.50@ 9.60 (290-350) Good and choice... 9.40® 9.50 Packing sows: (275-350) Good 8 40® 8.75 (350-425) Good 8.25® 8.65 (425-550) Good B.lo@ 8.50 (275-350) Medium B.oo® 8.40 Slaughter pigs. „ „„ (100-140) Good and choice... 6 65® 8.40 Medium 5.75® 7.90 CATTLE —Receipts. 600— —Steers—-(sso-900) Choice [email protected] Good [email protected] Medium 7.00® 9.75 Common 5.00® 7.25 (900-1100) Choice [email protected] Good 9.50® 12.50 Medium 7.50® 9.75 Common 5.25® 7.25 (1100-1300) Choice 12.50® 13.50 Good 10.00® 12.50 Medium 7.75® 10.00 (1300-1500) Choice [email protected] —Heifers—-(soo-750) Good [email protected] Choice [email protected] Good 8.25® 9.25 Common and medium 4.25® 8.25 (750-900) Good and choice.... [email protected] Common and medium 4.50@ 8.50 —Cows— Good 6 00® 7.75 Common and medium 4.00® 6.00 Low cutter and cutter 2.00® 4.00 —Bulls—- . (Yearlings Excluded) Good 5.50® 6.50 Common and medium 3.50® 5.50 VEALERS —Receipts. 600— Good and choice slo.oo® 10.50 Medium B.oo® 10.00 Cull and common 4.00® 800 —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 ... 6.00@ 8.00 Common and medium 4.50® 6.00 (900-1050) Good and choice... 6.00@ 8.25 Common and medium 4.50® 6.00 —Cows— Good 3.75® 4.50 Common and medium 3.25® 3.75 CHEEP AND LAMBS —Receipts. 1600— Lambs. 90 to 120 lbs., good and choice $8.25® 9.00 Common and medium 6.00® £.25 90-120 lbs., good and choice... 4.00® 5.00 Sh ,T 2 P O’-150) Good and choice... 3.50® 4.75 All weights, common and medium 2.50® 3.75

Other Livestock

(By United Press) CHICAGO. March I.—Hogs—Receipts, 12.000 including 7000 directs; market. 15 to 25 cents higher than Thursday, weights above 210 lbs, 59.40®9.50; top. S9-55. new high; 160-210 lbs S9 3 4 9.50; light lights, 58.50 -5T 9.25; slaughter pigs *6.75 3 8.50, packing sows. $8.601)8.75; light lights, 140160 lbs. good and choice, 58.004i 9.2d; weight 160-200 lbs. good and choice, 9:50; medium weights. 200-200 lbs. good and choice. $9.35(5.5.55; heivy weighs 209250- lbs. good and choice. $9.35'29.55. heavy weights. 250-350 lbs. eOO 5 7 - a choice. $9 4041.9.55; packing sows. 275-550 lbs, medium and choice. $7.75 s 8.90, slaughter pigs. 100-140 ;bs. good and choice. $6.75(58.75. Cattle —Receipts, 2500, calves, 500’ steady; cleanup trade on most classes; vea’le.-s firm; killing quality very Plain: holding best yearlings around $12.50. around 1050 lbs. Canadian sheers $10.75, best heifers, yearlings, 510.65: selected yealers, $9®9.50; to all Interests. Slaughter good and. choice. $9.50® 13; 906-1100 .bs. cattle and vealers—Steers. 650-900 lbs good and choice. $9.50® 13.75; 1100-1300 1500 lbs. good and choice. $10.25® 13 90; lbs good and choice. slo® 13.90; 1300® 550-1300 lbs. common and medium. So a 10.25: heifers. 550-750 lbs. good and choice. $9 25®1!.50; common and medium. s4.,d'< 9.25: 'cows. good. $6.50®9.25; common and medium. 54.25®6.75; loow cutter and cutter $3®4.50; bulls (yearlings excluded good beef i $5.25® 7: cutter common and medium $3.75® 5.40: vealers. good and choice, $7 50®9 50: medium. 56*57.50; cull and com mon. S4®6: stocker and feeder cattle: steers. 550-1050 lbs. good and choice. $6 25 ®8 50- common and medium. so®6.2d. Sheep—Receipts. 15.000. fat lambs opening fairly active; bids and few’ sales fully steady to stronger at $8.75® 9; asking 15 to 25 cents and more higher; best offerings held $9.15®9.25 and above; sheep best held above $7.50. Slaughter sheep strong: feeding lamb undertone firm; and lambs Lambs. SO lbs, down, good and choice. $8.50® 9.25: common and medium. s7® 8 65; 90-98 lbs. good and choice. $8 25 (a 9 25: ewes. 90-150 lbs. good and choice. s4® 5 50* all weights common and medium, S3® 4.65: feeding lambs. 50-75 lbs, good and choice, $6 75® 7.50. LAFAYJETTE. March I.—Hog market, ! steady 250-300 lbs. $9.50: 300-325 lbs. $9 30 200-250 lbs. 5.35® 9.45. 160-200 lbs. !$9 10®9.20: 150-160 lbs. [email protected]; 135- ! 150- lbs. sß® 8.25: 125-135 lbs. $7.50® 7.75: I 115-125 lbs. S® 7 25; 100-115 lbs. *6 50 ® 6.75: roughs, $8.25 down. Calves, 50c higher. I 59.50 down; lambs, steady. $8.50 down. | FT. WAYNE. March I.—Hogs—Steady to I 5c higher; 200-250 lbs.. $9 40. 250-300 lbs., $9 25: 300-350 lbs . $8 95: 180-200 lbs.. $9 30; 160-180 lbs.. $9 20: 150-180 lbs.. $8 50: 140150 lbs.. $8: 130-140 lbs . $7.75: 120-130 lbs.. $7 25; 100-130 lbs.. $6.75; roughs. $8; stags, $5.75. Calves. $10; lambs $8.50, ißy Times Special) LOUISVILLE. March I.—Cattle—Receipts. 250. run includes 3 loads steers mostly kinds of value to sell from $9 down; mari ket. less active, but about steady; bulk common to medium, steers and heifers, s6® 8 good fed offerings quotable to around $10: bulk beef cows. $4.25®5.50; good kinds and smooth heifer types quotable to $6 and aoove: most low cutters and cutters. 52.50®3.75: sausage bulls, mostlv $4 75 down: b*st heavies considered eligible higher bulk desirable Hereford Stockers. $6 50® 7.50. Calves—Receipts. 3CO. i including about 100 stock calves; steady: i bulk better - ealers $7.50® 8 50; strictly ; choice $9: medium and lower grade, mostly $6.50 down. Hogs—Receipts. 600: market, steady; top and bulk better 180-250 lbs $9 35: weights 255 lbs. up. $8.90; 160- | 175 lbs.. $8 90: 140-155 lbs . $3 30: 120135kibs . $7.35: sows $7.60. Sheep—Receipts. I 50' market, steady; bulk med'um to good I lambs, s7® 8: choice quotable ground $8 50; I corr.mrn light ihrowouts mostly $6 and fat I-ewes. '3.50 down.

Max Hosea Will Manage Unit for Which He Once Worked as Mere Lineman

Indianapolis Attorney Is to Return to Telephone Business. BY FREDERICK G. MATSON Times Staff Writer Max F. Hosea, Indianapolis attorney, today returns to active participation in his former business and long-time hobby. Business and hobbies usually are net synonymous terms, but Mr. Hosea admits having a passion for telephones. He is general manager of the United Telephone Investment Corp., a holding company for ten firms operating 38 exchanges in Indiana and one in Illinois. Early days in the telephone business were recalled with pleasure by Mr. Hosea, who seemed filled with pleasure in reviving old memories and the expectation of entering the field again. He, with his twin brother, John L. Hosea. now Mayor of Columbus. Ind., started their telephonic careers in that city more than 40 years ago. Were First Linemen “We had a part in organizing the Columbus Citizens Telephone Cos., but besides being organizers we were also the company’s first linemen,” Mr. Hosea recalled. “It seemed as if we put up and climbed up every telephone pole in Brown County.” This company was one of the first independent telephone firms in the midwest. A few years of climbing and splicing apparently sufficed to give the twins a pretty good working knowledge of the business, for Mr. Hosea states that they became officials in the organization. The Columbus Citizens Telephone Cos. installed the first telephone lines in Brown County, between Columbus and Nashville. “That would be just 40 years ago, when William Jennings Bryan was running for the presidency his first time,” Mr. Hosea recalled. Heads Equipment Unit At present he is president of the Inland Equipment Cos., an Indiana corporation selling telephone equipment to some 1800 companies throughout the nation by mail order. He has been practicing law for 15 years. During the last four years he has had no connection with the telephone business except that of heading the Inland Equipment Cos. He recently was elected to the position of secretary-treasurer and general manager of the United Telephone Investment Corp., and begins his duties in those capacities today. Other officers elected were John T. Detchon, Miami, Fla., president, and T. A. Danielson, Indianapolis, vice-president. General offices of the company will be in Greenfield. Firms Listed Operating firms under the United Telephone Investment Corp., are the Union Telephone Cos., Indianapolis; Daleville and Middletown Telephone Cos., Middletown; Home Telephone Cos.. Noblesville; Central Indiana Telephone Cos., Sheridan; Converse Consolidated Telephone Cos., Converse; Citizens Telephone Cos., Zionsville; Attica Telephone Cos., Attica; Fountain Telephone Cos., Covington; Surplus Electric Equipment Cos., New Richmond, and the Milford Telephone Exchange Cos., Milford, 111. Exchange services to be operated by Mr. Hosea are those at Noblesville, Carmel, Greenfield, Sheridan, Zionsville, ‘Mooresville, Attica, Morgantown. Nashville, Bakers Corner, Ekin, Kirklin, Daleville, Middletown, Clarksville, Mathews, Upland, Summitville, Mt. Etna, Lagro, Andrews, Burlington, Buck Creek, Melott, Newtown, Covington, Stone Bluff, Veedersvurg, Waynetown, Waveland, Russellville, Browns Valley, Greentown, Center, Amboy, Converse and Morocco, all in Indiana and Milford, in.

Stock Studies

CONTINENTAL CAN ♦ CAPITAL STOCK pe o f 1 1 --■qpwet share EARNINGS PRICE RANGE scacs A 1- | | | I 1 ' 60 I I I—.* U 130 31 32 33 34|30 31 32 33 34f WINCHESTER INSTITUTE OF FINANCE

Continental Can, Inc., is the second largest manufacturer of con- j tainers in the United States. The company has steadily and prudent- ! ly advanced both geographically and . as to diversification. About two-thirds of production is of the standard types of can for vegetables, fruits, meats, etc. It also manufactures containers for oils, paints, chemicals and drugs. The company operates 38 plants well located the United States and Cuba. During 1934 ap- j proximately $4,400,000 was spent in new plants and improvements, while the average number employed last year was 11.857 compared with 9387 employed in 1933. FINANCIAL DATA As of Dec. 31, 1934 Capital Stock (520 par) 2.665,191 shares Surpluses $29,858,903 Cash and Securities 14.978.780 Inventories 18.661,700 Total Current Assets 42.986.426 Current Liabilities 5,361.666 Continental Can was incorporated in 1913 in New York. The stock is listed on the New York Stock Exchange. At a current price of around 71 it sells to yield nearly 34 per cent and for 174 times earnings. * All Rights Reserved. Winchester Institute of Finance. Winchester. Mass.) OIL FIRM GETS OPTION By United Press TULSA. Okla., March I—The Stanolind Oil & Gas Cos. confirmed today that it has an option to buy all stock of the Yount-Lee Oil Cos., Beaumont, Tex., but said negotiations were far from being concluded.

What Does It Mean? Depreciation—This term, in its widely accepted usage, means the decline in value in use nf fixed tangible assets, particularly buildings and equipment.

Bp v ■aaggfe | ■ M|H| n IK S ||ll ' j|gj

Max F. Hosea

N. Y. bonds

(Reprinted from yesterday) DAILY BOND INDEX 20 20 20 20 Inds. Rails, Util. Bonds. Today 86.6 79 1 94.3 86.7 Yesterday 86 6 78.7 93 9 86.4 Week ago 86.9 82.6 94.2 87.9 Month ago ... 87.0 84.5 92.7 88.1 (Copyright 1935 by Standard Statistics Cos.) U. S. GOVERNMENT BONDS (By Fenner & Beane) Libertys Prev. Close. Close. Ist 3%s 1932—47 102 18 103 Ist 4'*s 1932—47 102.20 102 30 4th 4%s 1933—38 (Uncalled) 103.7 103.9 4th 4%s 1033—38 (Called) .. 101.23 101.23 Treasury’s 4%s 1943—45 116.2 116.5 4s 1944—54 110.30 111.5 3%s 1946—56 109.11 109.16 3%s 1940—43 106.14 106.14 3%S 1943—47 106.1 106.5 3%s 1941—43 106.14 106.16 3%s 1943—45 104.29 105 3%s 1941 .. . 106.12 106.14 3%s 1944—46 104.28 104.31 3 Vis 1946—49 104.8 104.13 3%S 1949—52 104.9 104.12 3s 1951—55 103 8 103.15 3s 1946—48 103.8 103.12 Home Owners Loan Corp. 2%s 1949 100.1 100 3s 1952 101.27 101.25 4s 1951 101.13 101.10 Federal Farm Mortgage Corp. 3Vis 1964 103.18 3s 1949 101.26 101.29 3s 1942—47 101.24 101.29 DOMESTIC Prev. Issue. Close. Close. Alleg Corp 5s ’44 69 1 2 70V* Alleg Corp 5s '49 61% 61 Alleg Corp 5s 'SO ... 20 Vi 22V* Am Frgn Pow 5s 2030 58'* 57 3 * Am Tel & Tel 5%s ’43 112% 112% Am Tel & Tel 5s '65 112 111 3 * Arm & Cos (Del) 5%s ’43 105% 105% Atl Coast Line 4s ’52 102% 102 1 2 Atl Coast Line 4%s ’64 89% 89',* Atch Top & S Fe 4' 2 s '4B ....109 108 Am Wat Wks 5s '44 92% 92% Am Rolling Mills 5s '3B 107'; 106% Balt & Ohio 5s '95 62'2 63Va Balt & Ohio 6s '95 73 72 Balt & Ohio 4%s '6O . 46'/* 47 Buff Roch & Pitt 4',2S ’57 61% 60 Chi Milw & St P 5s '75 18% 19’2 Chi Milw & St P 5s 2000 4% 4% Cleve Un Term 5s ’73 93 93 Cleve Un Term 4%s ’77 86% 85% Col Gas 5s May '52 761a 77 Col Gas 5s April '52 77 78% Col Gas 5s '6l 74 74 Can Pac Perp 4s 87 87 Cent Pac 5s '6O 76% 74% Big Four 4%s '77 63% 63 Big Four 5s ’63 .: 72 71 Colorado & So 4%s ’BO 62% 62% Chi & West Ind 4s '52 97% 97',* Chi & West Ind s'is '62 104 104 Chi & Nor West 4%s ’49 15% 15% Con Gas 5s '57 105 104% Chesa Corp 5s ’47 104% 105 Dodge Bros 6s '4O 106 Vi 106'i Del & Hud 4s ’43 86 86% N Y Dock 4s ’sl 65 Vi 65 N Y Dock 5s '3B 44 44 Erie 5s ’75 63 63% Erie 5s '67 64 63'2 Gen Cable 5%s ’47 88% 88% Grt Northern 7s '36 88% 08% Grt Northern 4%s '76 73% 7*% Grt Northern 4'2S '77 74% 74% Gen Stl Cast W W 5%s '49.. 83 81% Hud & Manhat Ref 5s '57.... 90% 89% 111 Cent 4%s '66 53 52 111 Cent Jt 4'is '63 65 64 111 Cent 5s '63 67% 67 Internatl Hy Elec 6s '44 43 46% Interntl Tel & Tel 4%s '39.... 67% 67% Interntl Tel & Tel 5s '55 62% 62 Interntl Tel & Tel 4%s '52 57 56% McKess & Rob 5%s 'SO 99% 99% Midvale Stl 5s ’36 103% 103% Natl Dairy 5' 4s '4B 104% 104% Natl Steel 5s '5 6 107 107 Nickel Plate 4%s '7B 57% 57% Nickel Plate 5%s '74 68 66% Nickel Plate 6s '35 62(4 61% N Y Cent 5s 2013 57 56' 2 N Y Cent 4%s 2013 (old) 53 52% Nor Amer Cos 5s '6l 84% 83% Nor Pac 3' 2047 76 75% Nor Pac 4‘2S 2047 83'4 84% Nor Pac 6s 2047 a 96% 97% Nor States Pow 5s ’4l* 106V* 106 New Orleans Term 4s ’53 .... 85 84% Otis Steel 6s ’4l 84% 82% Penn Rv 4%s ’B4 104 103% Penn Ry 4'is 'Bl 104 104 Penn Rv 4%s '7O 95% 95% Pac G & E 5s '42 107% 106V* Portland Gen El 4%s '6O 56% 56 Para Publix 5%s 'SO 71% 69 Penn P & L 4%s ’Bl 103'* 103% Postal Tel & Cab 5s '53 45% 45% Rem Rand WW 5%s ’47 102% 102 Sinclair Oil 6%s 38 103% 103% Shell Union Oil 5s ’47 102% 102% Sou Pac 4%s '6B 64 63 Sou Pac 4%S 'Bl 63 62% Sou Pac 4%s '69 63% 63 Sou Pac 4s ’49 67% 67% Sou Rail 4s '56 45 45 Sou Rail 6s '56 61% 61% Sou Rail 6%s '56 63% 63 Texas Pac 5s 'BO 89 Cos Texas Pac 5s '79 89% 90 Texas Pac 5s '77 90% 90 Union Pac 4s '47 ~.,...111 110% U S Rubber 5s '47 94% 94% NY NH & Hart 6s 48 37 36 NY NH & Hart 4%s 67 32 31% Warner Bros 6s 39 52% 52 Western Marv 5%s 77 99% 99% Western Marv 4s 52 94% 94% Youngstown S & T 5s 70 94 84 Youngstown S&T5s 78 94% 94% FOREIGN Argentina A 6s 57 92% Argentine B6s 58 £2% 92 2 Canadian Govt 4s 60 106% 106 Denmark 5%s '55 100 2 100 2 French 7s 49 190,, 1 |§ 1 ! German 5%s 65 German 7s 49 44 * 44% alv 7s 51 90% 89% -apan 6%S 54 92 a 92% Poland 7s 47 126% 126% Tokio Citv 5%s 61 77% ,8 Yokohoma 6s 61 .... 84 2 84 * FEDERAL FARM LOAN BONDS (Bv Blvth <fe Cos.) Bid. Ask. I 4s July 1. 1946-44 105 105% j 4s Nov. 1. 1957-37 103% 103% | 4s May 1. 1958-38 103% 103% 4%S July 1, 1956-36 103103% 4%s Jan. 1. 1957-37 103% 104 4%s Mav 1. 1957-37 103% 104 4%s NOV. 1. 1958-38 103% 404% 4%s May 1. 1942-32 101% 101’* 4%s Jan. 1. 1943-33 101% 101% 4%s Jan. 1, 1953-33 101% 101', 4%s Jan. 1. 1955-35 101% 101'a 4%s Jan. 1. 1956-36 102% 103% 5s May 1. 1941-31 101% 101% 5s Nov. 1, 1941-31 101% 101%

r—WE 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

STRIKE THREAT PROPS DEMAND FOR SOFT COAL Bituminous Dealers See Slim Hope of Averting Conflict on April 10. By Times Special NEW YORK. March 1.--Informed people in the coal trade Intimated strongly today that they are apprehensive of the outlook for the labor situation in the bituminous industry when the prevailing wage agreements expire on April l next. They see little or no hope of averting a strike in the soft coal fields about that time, and are fearful that the disturbance can not be avoided even by extension of the industry's code. This nervousness is not limited to interests in the industry itself, but is growing among big industrial users of bituminous, as evidenced by the recent sharp pick-up demand. Users Stotl’ing Up The public utilities, the railroads and many industrial companies, all of which make extensive use of soft coal, have apparently undertaken to build up their surplus supplies against the growing threat of interruption to production. The record of carloadings, as figures covering me last week, come to hand, will reveal the trend, it is declared. While the unsettlement has not manifested its effect in a broad way in the anthracite market, it has tended to quicken the pace for the smaller industrial sizes, such as pea coal, barley and buckwheat grades. Many plants, it is pointed out, use these anthracite classifications for mixing with bituminous. Bituminous miners are demanding an increase of 25 per cent in the wage scales, but producers are opposed to such a lift, pointing out that it would add substantially to the cost to the ultimate consumer, and, moreover, that it would tend to drive more business over to the oil industry. Guffey Bill Weighed The producers’ greatest worry, presumably, is tied up in the latter phase of the situation, since it is known that under prevailing conditions contracts with the consumer contain a clause providing for an automatic adjustment in prices to cover any advance in wage scales. While discussion pro and con of the Guffey bill before the Senate Interstate Commerce sub-committee has aroused no end of interest in his proposal, the coal trade does not seem to be particularly worried about possible enactment at this session of Congress. On the contrary, the feeling in the trade is that the measure, which would declare the bituminous ini dus try a “public utility,” lacks this strong backing of the Administra-* tion. ( The bill, however, has the back-' ing of some of the bigger producers i in western Pennsylvania, and also of many of the leaders in the field of union labor. Under the circumstances, a strike a month hence, could, it is held, conceivably influence political sentiment on the measure. REDEMPTION IS CALLED By Times Special NEW YORK, March I.—The Shawinigan Water and Power Cos. announced today that it had called for redemption on April 1 all of its outstanding five-year 6 per cent secured notes, issued in 1932 and due Feb. 1, 1937. Payment will be made at par, plus a premium of 1 per cent and with accrued interest to the date of redemption.

“My Clientii Sleep Well" For yourself In old age. Enjoy a contented and secure future. (Retirement Annuities) R. F. Lindleman Aetna (Life Insurance Cos. 10th Floor Illinois Bldg. RI-9.305 ' i

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

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