Indianapolis Times, Volume 46, Number 256, Indianapolis, Marion County, 6 March 1935 — Page 11

Wall St. Holding Companies Taking Troubles to Public. BY RALPH HENDF.RSHOT—fimn '•*<•)*'

N*E\V YORK. March 6—Quite properly the public utility holding companies have decided to po direct to the public the Doubles they are experiencing with Congre.i* and the Administration. Under the provisions of a bill which has been offered in Congress they would be legislated out of exi tenre. There are many

reasons, they believe. ny the bill should not be enacted into law In the past these companies, along with most others have gone to bat with the legislators or o’her public repr e s e n t a tives when .they desired favors or when they thought their

- % ■ niefeyw *

Ralph Hendershot

toes '■•ere being stepped on. It is raid tha* in certain instances some even overstepped the bounds of propriety and such things. This procedure seemed to serve their purpose for a time, but the •fnends'* they made now appear to pave deserted them. President Roosevelt is given credit for having popularized the idea of direct public appeal. Although he probably should share the honors with ex-Govemor Alfred E Smith, no one will question the fact that he has ben head and shoulders above all others from a success standpoint. * * * THE utility companies have been doing a fairly good job thus far. Some of their advertising copy has born quite effective in putting their thoughts across. And. in view of the wide. pread holdings of utility that they will meet with a fair securities, it is reasonable to suppose measure oi success. Behind the direct public appeal 1? th* p yehologv that most public officials rely on their own judgment in legislative matters unless they receive sufficient pressure front their constituents to cause them to do otherwise. Consequently success or failure depends upon the fire that can be built under the voters on any given issue. And it is necessary to strike a very responsive chord before the average citizen will go to the bother of writing to his congressman. The scheme is to attract the voters attention, either through newspaper advertising or both, and then n appeal to his sympathy or his patriotism or possibly to his better judgment. It requires much more fines.' to do this well than it does, for instance, to convince a few legislators that they are great statesmen and should back this or that measure for the good of the cause. * * * BUT the idea i- fundamentally sound and is of definite benefit in all directions. A proposal which can not be brought out into the open and thoroughly thrashed out is likely to be of little value. Moreover. the public has become quite interested in government, and it is entitled to hear both sids of any issue. In addition, probably, to doing themselves some good by making their appeal direct to the public, the ut.ity holding companies therefore aie doing a public service by their efforts. It has betn discovered In the last few years that economic matters are of the highest importance. In the “good old days” there were taken care of chiefly through lobbies. where only one side of the argument was presented. In the more recent past only the other side of the story was told. Now it looks as though both sides are to be heard, and better business legislation is likely to result.

On Commission Row

QuesMon* below are average wholesale prices being offered to buyers by local commission dealers. Fruit* Bananas. V a lb Apples. Indiana Wineaaps. l 75; Golden Delicious. 5i 85. Lemons, sunkts’ 260s $4 25. Grapefruit Texas sceri!*- = --. $2 75; Ar.ror.a. 64s 70s and f'*s $2 sit. Limes, Mexican, per carton 12.. 25c; By ram. seedless, per hundred $3 P:neapp>s Porto Rican:. crate $5 Avocados. Florida, box. $1 50. B’rawberrl's Florida, pint. 16c per 36p* rra’e. IV Apricots S3 crate Grapes South America. hite. $3. Mack $3. Vegetable* —Cabbage. Northern Danish. VMb bag. $1 5C red. so-lb bo> *i .... N** Texas cabbage. h'U er?> *l5O Onions swee- par ish. large. ss-lb. bag $3. vello*cs. 50-’b. bag $2 75 Texas green omor.s 40c cor. Potatoes Green Mountains, lio-ib. ‘\e. $1 50 selected cabblers 50-lb bag $! northern rounc white l(K-lb. bt£. $: Nebraska tr utrph 50-lb tag $2 2-. Chios iCO-!b bar $2. Idaho Rlbads. I both big $1 90. New Florida Tn.-mph-. tr'hei I? seet ,-aotatoes. Indiana Jerseys bushel. $1 T* nr.essee Nancv Halls bushel $1 35 Beans, round strlngless ha-per. $2 : 2 25. ax. $2 25 Celery ■ a a Y.ed and trimmed . medium dor. 60 : {umbo. doz. 75c; hearts dot . il C.-.mhers. hot house dozen. $140: 2 d-rer. box. $2 s<* Endive. California d-.-ir 90c: crea'e. $4 25 Egg pi nt $2 50 dozen. Kale, bushel. $1 Letlt.ce. hot house 15-lb bssice* $! 15: An on* IceO*rg head lettuce. $3 50 Yuma, s*so Mtr.g'e; $3 5C 4 a crate small ... (1 . Mint a cl'--'-. 61. Par-If. d-rer.. 350 Peas hampers. $2 75 Spinach. T*\t bushel. ?! 50 - ; 65 Radishes dozen. 45 Tomatoes 10-lb carton $ 85 F>nda original $2 75 Turnips bushel 75c Parnps bushel. $1 35 Bee-s bu.'hel. $1 is Carr-ts bushel. $t 25. 500-!b 'ack. $! 75 Rhubarb hot house. 5-lb. ct rton. 5>- 7 60c doz. bunches. sl. Mushroom*. Ib.. 3 c All quotations subject to change up or

Retail Coal Prices

The foliowtcg prices represent cuotationa from leadir.f Indianapolis coal dealera A 25-cent carrying charge per ton will be added DOMESTIC RETAIL PRICES Indiana .uran $5 SO Egg 5 03 Nut 480 Brazil BlockLump 5 54 Ez? 5 31 Nut 6 04 GlendoraLump 5 34® 5 59 Eg* 6 18 } 5 43 Nut 4 95®5 20 West Virginia and Eastern Kentucky Inn B* 677 2 7 1$ P cahontas and New River, smokeless ■ • 7 3028 33 Coke egg and nut 890 Pea Coke 740 Anthracite 1013 9i2U STLEL OUTPUT HIGHER By T me* Sptnal CHICAGO. March 6 —Steel operations for the current week will be 48 2 per cent of capacity, compared with 47.7 per cent last week, according to an estimate issued today by the American Iron and Steel institute. The rate a month ago was 52J per cent.

♦ ♦ Abreast of The Times on Finance ♦ ♦

ORE IN AFRICA ITALIANS’ LURE, AUTHORITY SAYS Large Supply of Cheap Labor in Abyssinia Also Cited as Factor. ThU is another of a series of articles written for The Indianapolis Times hr members of the economics department of New Vork I nuersitv’s School of i oamerer, Accounts and Finance. BY JOHN’ A. BRYSON NEW YORK. March 6—Many persons believe that Mussolini soon will apply that famous Roman phra'*. ‘ I came I saw, I conquered,” j to Ethiopia. At the first glance. I E’hiopia. or as it is better known as Abyssinia, does not seem to offer anything of value to Italy. It is a wild and undeveloped country, peopled by backward tribes. Very little trade and commerce is carried on within the countrv and its foreign trade is even less. The climate. in no wav, can be said to be favorable to Europeans. A large portion of the country is inf.rted with malaria-burdened mosquitoes and “fever flies.” In order to understand the real reason for Italy's desire to secure control of Ethiopia, we must go "below the surface.” Italy does not compare favorably in mineral resources with other countries. While it is true that Italy produces some iron and lead, it is lacking in most other minerals. Produced Only 530.000.000 The total value of a” Italian-pro-duced minerals in 1930 was only $30,000,000. The lack of an adequate supply of copper, nitrates, coal and potash is a serious obstacle to Mussolini in trying to make Italy economically independent of other countries. Mussolini fostered a rapid increase in wheat and other agricultural products, but, obviously, he can not force Italians to raise coal and other mineral resources. Italy imported slightly over 700.000 tons o* coal and coke from this country '.lone during the years of 1929 an.l 1930. The total imports of coal from all countries was about 21.30u.000 tons. Italy also imported 185.000 tons of iron and steel sheets and plate 6, and 138,000.000 pounds of copper. Manufacturing in Italy has been greatly handicapped by the lack of raw materials. An increase in the supply of raw material world make it possible for Italian manufacturers to expand. This would be especially true if it were possible to secure cheap raw materials. On the other hand It has long been believed that great mineral wealth exists in Ethiopia. This belief originally sprang from the mythical treasures of the Queen of Sheba who once ruled over this land. It was substantiated by the fact that the natives have long been accustomed to smelt such iron as they might need for their own use. In recent years gold has been obtained both from mines and from alluvial deposits. Potash Deposits Found It is also important to note that vast potash i 7 oosits have been found near the Eritrean border. Eritrea is an Italian colony situated to the northeast of Ethiopia. These i potash deposits are now being ex- ! ploited by Italy. The ruler of Ethiopia is attempting to Europeanize his country. For this reason he had a survey made of the mineral wealth of the land. The existence of vast deposits of gold. iron, copper, potash and other natural resources was disclosed. This country also can produce in large quantities two other agricultural products that Italy greatly needs—coffee and, more important, cotton. Lastly, Ethiopia has a population of some 10.000.000. While it is true that a good many of these people are wild and warlike there is. nevertheless. a vast potential cheap labor supply which could be put to work producing raw’ materials. The raw m ic-rials would enab’e Italian manu cturers to expand their plants, e ploy more workers and enhance tl e prosperity of Italy, as well as r. iking it possible for that country to become self-sufficient. The acquisition of Ethiopia, or even the securing of a mandate over this country. wouH go a long way in helping Mussolini attain his aim of making Italy economically independent of uli*er countries .

Produce Markets

Delivered in Indlanapoll* prices: Hear* breed hens. 14c: Leghorn hens. 9c; col-o-cd springers 13c: heavy stags, 9c: Leghorn .tags. 7c: old roosters. 6c; ducks, full feathered and tat. 10c: geese, full feathered and fat. 8c; all classes of guineas. 15c. No. 1 strictly fresh countrv run eggs, loss of: 17c Each full case must weigh 55 lbs cross, a deduction of 19c a pound for each pound under 55 lbs will be made Bu"er—No 1 34®35c butterfat. 30c. Quoted bv the Wadley Cos. ißy United Press) CLEVELAND March 6—But'er—Market, weak extras 34c: standards. 33c. Eggs— Marke’ uea.-c ex-ra white. 21c: current receipts. 20'Poultrv—Market firm: fowls under 6 lbs . 21c; Leghorn fowl. IST 19c capons. 7 IK' up. 26c: old roos’ers. e. :<v■* rid 20c Po'a-oes—Maine. $1 10 a 100-ib tne Ohio mos-elv 75 ;Soc a 10P-'.b. bar. N-a York 65c a 1040-ib bag: Florida. $1 90® 2 a bushel.

Other Livestock

ißy Times Special) LOCISVTXE March 6 —Cattle Receipt? 300 demand fairly broad for all slaughter classes killing quality plain: market generaUv steady, bulk common to medium steers and heifers. S6':B very little included of salue to sell aboye *9. but pood fed steers quotable around 310; b-ilic beef cows 44 50':5.50i pood kinds •vpes; low cutters and cutters mostly ouotable, *6 ar.d above for smooth heifer *2 50- :4: sausage bulls. $5 down: most desirable Hereford stock calves salable 50 750 Calves—Receipts. 225: market s-eadv; bulk better vealeis. *7 5068 50. s'rictlv cho-.ce J 9. medium and lower grades 38 50 down. Hogs—Receipts. 650: market 50c higher: top and bulk better IM-250 lbs . 39 55 highest since early November. 1930. weights 255 lbs. up. 39 10: 180-175 lbs 39 05. 140.J55 lb? 38 55; 120135 lbs 37 80 sows weighing 400 lbs. down. $7 go heatser weights discounted 50c. Rc iM M - s.tdv bulk medium to good lambs 37.:8, choice kinds quotable higher: common throw outs. $6. and fat ewes 33 50 down. FIRM GETS OHIO PLANT By Timrs Sperinl YOUNGSTOWN. 0., March 6. Henry A. Remr, president cf Sharon Steel Hoop Cos., has announced the acquisition of the Falcon plant of the Empire Steel Cos.. Niles, O. I

INDIANAPOLIS, WEDNESDAY, MARCH 6, 1935

Profits of Leading Industrial Corporations During 1933 and 1934 as Contrasted by Groups By Time* Special NEW YORK, March 6.—The following tabulation, prepared by National City Bank of New York, shows profits for 1933 and 1934 of American industrial corporations by groups. Profits are shown after deoreoation, interest, taxes and other charges and reserves but before dividends. The net worth of. the group* includes book value of outstanding preferred and common stock and surplus account at the oeginmng of each year. (In Thousand* of Dollars) Net Profits Per Net Worth Per Per Cent Years Cent Jan. 1 Cent Return v 0 Industry 1933 1934 Change 1933 1934 Change 1933 1934 5 jffIESSS 1 f-SH VSB t:::: ‘mill? * -U U Anna-e' ... ... 2 158 4.203 + 94 8 109.784 106.630 Au p omobiie S - 7.6 1.055.549 1,065.897 +l.O 8.7 9.3 31 V o Accessories ... .. ...... 586 7.763 + 124.780 119.754 15 Bakery 23 303 18,236 54 Materials 699 14.936 + 457,742 427.619 18 r m t " 50 754 64.165 - 28.4 713.987 716.120 —0 4 7.1 9 0 12 Coal Mmine D- 7.861 6.899 + • 239.676 228.949 31 Cottonm"Fs . ............ 7.045 3 504 10 Dr ies and Sundries . . 20.31* 25.864 -l 27.3 171,960 151.793 —11.7 11.8 17.0 iV Flectrlral Fnuinment D- 3 178 8.313 -• 179.539 172.763 57 Food Produrts—Misc ......'. 53.525 60.329 4- 12.7 637,350 623.699 30 Heh“od S and Sup.... 16 209 22 358 4- 37.9 251.191 248.332 - 1.1 6.5 9 0 60 Tools ’’’ D- S |'.36X 7J61 4-.... 257,789 '236.337 16 Meat PaCiCirg T 21.826 23.879 4- 9.4 612 508 611.778 27 Mto -Cham Stores 84.137 92 782 + 10.3 598.364 624.695 + 4.4 14.1 14 9 1£ nnt cmrr- . ... 11l 1.438 - 141617 142.329 0 5 0.1 1.1 15 Mdse Wholesale re etc ‘' 6.189 8 099 - 30.9 119,047 123 376 - 3.6 5.2 6 6 21 Mmin7 Von-Ferr'ous 14.582 20.319 - 39 3 348.327 391.573 -i- 12.4 4 2 5 2 02 PmSi?*’and Products .. 1 Sl6 8.047 - 243.1 187,162 184,090 2 i VePTn’eum PrO<IUC,S 17;666 21.808 4- 23.4 512.749 512.581 3.4 4 3 13 Ratfwav EouiDment .........D- 10.630 D- 6.989 - 367,970 320.713 —l2 8 13 Rohh.V Tires etc”* ........ 11.632 11.673 4- 0.4 322.784 323.706 + 0.3 3 6 3 6 is .... 12 254 13.234 + 8.0 176 890 166,126 is sTir.nd Hosiery - :::: .. 2.399 uso —50.4 62,217 51.732 —ie.9 3.9 2.3 ie C y . . ..n. 1 180 4.397 + .■•■ 181.188 175.678 —3 0 2 5 1- Textile Products—MiSC ..... 5 341 1 614 I 54 350 61.186 + 12.6 560.144 521,648 a 7.475 D- 7.519 08 Miscellaneous—Mfe"!!!!! 57.466 72.034 + 25.4 921.777 890.150 54 Miscellaneous—Unices .7.7..D- 853 1.602 840 Total $471,203 $673,259 + 42.9 $13,785,266 $13,491,114 D—Deficit.

New York Stocks

(Bv Thomson & McKinnon) 11 a. m. Prev. Oils— High. Low. N. Y. close. Amerada 55' 55' 55% 55% Atl Rfe 22 \ 22 5/ s 2% 22% Barnsdall 6's 5 7 6 6% Consol Oil 7'4 7% 7*4 7% Cont of Del ... 17% 17 17% 17% Houston (old).. 13% 13% 13% 13% Mid Cent Pet.. 10% 10% 10% 10% Ohio Oil 9% 9% 9% % Pet Corn 8 8 8 8 Phillips Pet .... 14'i 14% 14% 14% Plymouth Oil ... 7% 7% 7% < * Pure Oil 6% 6% 6% 6% Roval Dutch ... 30 30 30 31 % Shell Un 6% 6% 6% 6*4 Skellev Oil 7% 7% <% 7% Soc Vac 12% 12% 12*2 12 • SO of Cal 29% 29% 29% 29's SO of Ind 24% 24% 24% 24% SOOf N J 38 1 37% 38*4 37% Texas Corp ... 19*4 19 19% 19*4 Tidewater Assn.. 8% 8% 8% 8% Un Oil of Cal... 16 15% 15% 16's Stffls— Am Roll Mills . 18*2 17% 18% 17% Beth Steel .... 26% 25% 26% 25% Bvers AM 14* 13% 14% 14 4 Col Fuel & Iron 3% 3% 3% 3 Cruc Steel 18 18 18 18 Inland Steel 51*4 50 50% 51 Mid Steel 10% 10% 10% 10% Natl Steel 44 43 * 2 43% 44 * 4 Otis Steel ... 5 4% S 5 Rep Iron A: St 1 11 10% 11 11 •J S Pipe <fc Fdv 17*a 17 17% 17 U S Steel .. 3T% 30*4 31% 30% U S steel pfd .. 80 79% 80 78% Wa’ren Bros 3% 3% 3% 3 4 Younest'n S&T 16 15% 15% 15% Motors— Auburn 19% 19 19% 19% Chrysler 34% 33% 33% Gen Motors .... 29% 2R% 29% 29% Graham Mot .. 2, 2 2 2% Hudson 9 % 8% 9 7*2 Huno ........... 2% 2 2% 2 Nash 13% 13% 13% 13% Packard ♦ 4 4 4 a Keo 2 3 4 2% 2% 2 3 4 Motor Access— Bendix 14% 13% 14% 13% Bohn Alum 54 53% 54 53 a Bore Warner .. 31% 30% 31* 31 a Briees 27% 37*4 27% 27** Budd Mfc 4 4 4 4 Budd Wheel 33 33 Eaton Mfe ... 1(% 17% 17 a l? * Flee Auto Lite.. 22% 21 22% 21 2 Elec stor Bat . 43 43 43 43 Houdaille "A” . 7% 7% 7 '2 14 Murray Body .. 6 5% 6 6 Stew Warner ... 6% 6% 5 s _6 a Timken Roll ■ 30 29% 30 30 Timken Det Axle 5% 5% 5% 5% Minina— Alaska Jun }]% 16% 17% 16% Am Metals la% 15-4 15% 15 4 Am Smelt 35% 33% 35 2 34 Anaconda . 9% 9*4 9-4 9 2 Cal & Hecla ... 33 3 2 * Cerro De Pasco . 43% 41% 43% 41% Dome Mines ■ ■4O a 38-a 40% 39 a Granbv 6*4 6 6% 6% Homestake Min 375 375 375 380 Howe Sound ... 48 46 48 46 4 Int Nickel ... 23 22% 23 22-^4 Kennecott Cop . 15% 15 15 15 a Mclntyre Mine . 43% 42% 43% 42 Noranda C'op ... 35% 33% 35 4 33 Phelps Dodge .. 14% 14a 14 4 14 2 St Toe Lead ... 13 12% 13 12% U S Smelters 119% 116% 119% H 6 Vanadium 16 15% 16 15 Amusements— Crcslev Radio-. 14 14 14 14 Fox Theat 9% ,9% 9 2 9% Loews Inc 34% 34% 34% 34 % Radio Corp 4% 4*4 4% 4% Paramount 3 3 a 3- 4 33% RKO 1% 1% 1% I*2 XVarner Bros .... 3% 3 3Va 3 Tobaccos— Am Sum T0b.... 19*2 19% 19*2 20 Am Tob (A> ... 77*4 77% 77% 78 Am Tob 1 8l ... 79% <B% (8 3 4 -9% Gen Cigars 55 55 55 55% Ligg A- M (Bl ..104% 104% 104% 104’a Reynolds T (B) 47% 47% 4<% 4i% Rails— Atchison .. 39% 38*4 39% 38% Atl Coast Lines 24% 23% 24% 24% B fc O 8% B*4 8% 9% Can Pacific .... 10% 10% 10% 10% Ch A- Ohio ... 41*2 41% 41% 41’4 Chi A Gt W 1 1 1 1 Chi A- Gt W pfd 2 2 2 2 CM4StP 2 2 2 2 C M A St P pfd 2% 2% 2% 2% Chi *N W’ 3% 3% 3% 3% Chi N W pfd.... 5% 5% 5% 5% Del aA- Hud 27% 26 27% 26 Del Lac A- W 13% 12% 13% 12 2 Grt Northern pfd ll’a 11 11% 11% 111 Central 10% 10 10 2 10% Lehigh Valley .. 6% 6% 6% 6% M K A’ T 3% 3% 3% 3% M K A- T pfd .. 6*2 6*2 6% 6% Mo Pac I*2 I*2 1% 1% N Y Cent 14*2 13% 14*2 13% N Y New Haven. 4% 3% 4*4 3% Nor Pacific 14*, 14% 14% 13*4 Penn R R 19% 19% 19% 19* 2 Reading 35 35 35 36 Sou Pac 14 a 13 3 a 14% 14* a SOU R R 9% 8% 9% 8% Union Pac 91*2 90*2 91*2 91% West Maryland.. 6% 6% 6% 6 a Equipments— Am Brake Shoe .26 26 26 26 Am Car & Fdv 13 12% JJ }3% Am Loco 11 3 4 11% 11% 11 1 Am S’eel Fdy .. 14*4 13 7 a 14 1 * 14% Bald Loco . 2 2 2 l a Gen Am Tk Car. 31% 31*a 31% 34 Gen Elec .... 22% 22 22% 22% Gen R R Sig ... 20 20 20 20 Fullman Inc .... 44*4 44 44-4 44% West Air B .. 20*2 19% 19% 20-4 Westingh Elec . 37*4 36 3i% 36*4 Utilities— Am A- For Pwr 2% 2% 2% 2% Am Power A- Lit 2% 2 2 2% A T A- T 105 104*8 105 105 Am Wat Wks .10 9*2 10 9% Col Gas A- Elec 4% 4% 4% 4 Com A- Sou 'a % a 1 Consol Gas .. 1.-a 16 2 16% 16% Elec Pwr A- Lit . 1% 1% 1% 1% Int Hvdro Elec . I*2 I*2 1% 1% Int T A- T -.7 6% 7 6% N’at Pwr A- Lit.. 5% 5% 5% 5Ja North Amer 10*2 10% 10% JO% Pac GA- E ... 13*4 13% 13% 13% Pub Serv N J ... 21 *9 20*4 21% 20% Bo Cal Edison... 11% 11*4 11% 11% Sid Cr3S 2*2 2% 2*2 2 s a Stone A Webster 32% 33 United Corp ... 1% 1 3 1% Un Gas Imp ... 9% 9*4 9 9 s Western Union.. 24% 23 .4% 23*2 Rubbers — Firestone 15% 14% 15% 14% Goodrich 8% 8-2 8- 8% Goodvear !o*a 19*a 20% 19*2 Kellv Spring ... 1% 1 Is U S Rubber .. 13% 12* 13* 13. U S Rubber pfd .33 * 4 31% 33 1 4 31 * Allis Chalmers . 15% 15 15% 15% Amer Can 115% 114% 115% 114% Am Mach A- Fdv 20 19% 20 20 Anchor Can 16 16 16 16 Brklrn Man Tr . 39*2 39 59% 38 a Burroughs Add . 11% 14% 14 2 14 2 J I Case .. ... 55*2 . 52% 52% Conti Can <0 68*2 70 68 a Caterpillar Trtct 41% 40 41% 40% Crown Cork .... 25 24% 25 2^ Curtis Pub ... 17*2 %‘s 17% 18 Curtis Pub pfd . 97 97 97 96 . Deere A* Cos 27 25% 27 25% Eastman Kodak 119 11 • % -.19 114 Foster Wheeler.. 12% 12., 12% 11% Glidden .. .. 26 25% 28 25 1 Ir.gersoll Rand.. 66 64*4 66 - Ir.t Bus Mach... 158 157% 158 157 Inter Harv ..39* 3.% 39% 3< 3 4 Natl Cash Reg IS 15 15 15 Owens Bottle ... 89 89 89 89 Rem Rand ... 9 8% 9 B*4 Underwood E 5.% 57% 5. 55 Worthington Pm 15% 15*2 15% 16% Food*” Am Sugar 66% 66% 66% 67% Armour ... 4% 4% 4% 4% Armour 60. pfd 69 68 69 68_2 Beatrice Cream -18 if,. li% Borden Prod . 25% 24-2 25 . 24% Ca! Packing 40*; 39-2 40% 39*2 Canada D G Ale 10% 10% 10 * * 10 Cora Cola 1•< * 2 1i.% 11 ’ a 177*2 Cont Bale “A*... * 5 and Corn Prod ...63% 62*. 63 3 62>i Crm of Wheat 39% 39% 39% 39% Cuban Am Sugar 6% 6% 6% 6% Gen Baking .... § 8 8 8 Gen Foods ..... 16*a 16% 16% 16 3 4 G W SuTgar 31% 30% 31% 30' a Ini Salt 30% 30% 30% 30%

Loose Wiles 34% 34% 34% 35% Natl Biscuit ... 26 25% 26 25% Natl D Prod ... 16% 16 16% 16% Puritv Bak .... 9% 9% 9% 9% S Por Rico Sug .24 23% 14 23% Std Brands 16% 16% 15% 16% Un Biscuit 24 24 24 24 United Fruit ... 79% 79 79% 80 Ward Bak "B'’ . 1% 1% lVi 1% Retail Stores-Y Assd Dry Goods. 9% 9% _9*s 9% Best & Cos 35% 35 35% 35% First Natl Stores 49 48% 49 50 Gimbel Bros .. 2% 2% 2% 2% Hahn Dept Sts .5 4'.. 5 4*2 Sterling Prod . 64% 63% 64*8 63 a Un Drug (new). 10% 9% 10*a 10 Vick Chem 36% 36% 30% 37 Zonite Prod .... 3% 3%. 3% 4 Financial— Adams Exp 5% 5 5% 5 Allegheny Corp . 1% 1% l’a 1 Chesa Corp .... 41 41 41 40% Transamerica .. 5% 5 5% 5 Tr Conti Corp .. 2*4 2% 2% 2% Building— Am Radiator ... 11% 11% 11% 11% Gen Asphalt ... 14% 14% 14% 13*4 Int Cement 25% 25*2 25 1 a 25% Johns Manville 44% 42*4 44% 42% Libby Owens Gls 26 25% 26 25% Otis Elev 13% 13*4 13*4 13% U S Gypsum ... 43% 42% 42% 44 Household— Col Pal Peet 17% 16% 17% 17 Congoleum 30 30 30 29% Kelvinator 16% 16 16% 16% Proc A Gamble 49 48% 49 48*2 Servel Inc 8% 8% 8% 3% Simmons Bed .. 7% 6% 7 7% Textiles— Amer Woolen ... 6% 6% 6% 8 Belding Hem ... 12% 12 12% 12% Celanese Corp .. 25% 23% 25 24% Collins Aikman. 11% 11% 11% 11 Gotham Hose .. 3*4 3*4 3% 3% Indus Ravon ... 30 29’2 30 29 Kresge S S 20% 20% 20% 20* 4 Kroger Groc ... 24 23 * a 24 23% Macy R H 37 36% 37 37 McCrorv St .... 9*4 9' a 9% 9* a McLellan St . 12*2 12 12*2 12% Marshall Field. 7% 7% 7% 7’ 2 May Dept St ... 39% 39% 39% 39% Mont Ward 24% 23% 24% 23% Penney J C 66% 65*4 66% 67 % Safeway St 39% 39% 39*2 40 Sears fioebuck 34% 32 33'4 32 Woolworth 54% 54*4 54% 54% Aviation— Aviation Corp.. 3% 3*B 3% 3% Boeing Aircft .. 7% 6-% 7% 7 Curtiss Wright.. 2*4 2% 2*4 2% Curtiss Wright A 7% 6% 7% 7 Douglas Air —. 20 19% 20 19*4 Nor Am Av 2% 2% 2% 2% Sperry Corp ... 8% 7% 8% 8 United Air N. 11% 11 11% 11% Chemicals — Air Reduction ..111 111 111 110% Allied Chem . 133 132 133 133 Am Com Alcohol 26 26 26 25% Col Carbon .... 78 75% 78 76% Com Solvents . 20 1914 20 19% Du Pont 93 90% 93 90*2 Freeport Tex ... 20% 20 20 20% Liquid Carb ... 26*4 25% 26% 26 Math Alkali .. 26% 76 26% 25% Monsanto Chem. 59% 58% 59% 59 Natl Dis (new).. 26% 25% 26% 26 Schenlev Dist . 25 23% 25 24% Tex Gulf Sulph 31% 31 31% 31% Union Carbide . 47 45% 47 46 U S Indus Alco. 39% 3814 39% 39*4 Drugs— Bristol Myers... 34 34 34 33% Coty Inc 5 4% 5 5 Lambert 28 27% 28 27%

New York Curb

(Bv Abbott, Proctor & Paine) 12 (Noon) Prev. N. Y. close. Allied Mills 14 13% Am Cyanide (B) 16% 16*2 Amer Superpower % % Atlas Corp 7% Distillers Corp 16’ 4 16% El Bond & Share 4% 4% Gulf Oil of Pa 55 55% Hiram Walker 27*2 27% Imperial Oil. Ltd 16% 16% Lake Shore Min 56 55*4 Natl Bellas Hess 1% 1% Nia Hud Pwr 33% Penn Road 1% 1% Salt Creek Products . ..... 5% 5% St of Kv 20 20%

New York Bond Quotations

(Reprinted from yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails Util. Bonds Today 86 4 77.6* 94 5 86.1* Yesterday 86 7 78 7 94 6 86.7 Week ago -... 86 7 78.3 94 0 86.3 Month ago .. 86.5 82.0 92.4 86.9 •New 1935 low. Ciopyright 1935. by Standard Statistics.) U. S. GOVERNMENT BONDS <Bv Fenner & Eeanei Liberty* Prev. Close, close. Ist 3 ! 2S 1932-47 103 103 4 Ist 4'-*S 1932-47 102 14 102,17 4th 4',s 1933-38 (uncalled).. 103.13 103.7 4th 4*48 1933-38 (called) .. 10124 101.24 Treasurys 4-4S 1943-45 116 5 116 8 4s 1944-54 111.7 111.9 3 3 4S 1946-56 109 23 109 25 3 3 sS 1940-43 107.18 107.10 3*Bs 1943-47 106.30 106.24 3hs 1941-43 107,16 107.11 3Us 1943-45 105.18 105.15 35 s 1941 107.16 107 17 3 ! s 1944-46 105.14 105 14 3' eS 1946-49 104 20 104 22 3>aS 1949-52 104 23 104 23 3s 1951-55 103 22 103.21 3s 1946-48 103.20 103.22 Home Owners Loan Corp. 2 3 4 s 1949 100.14 100.13 3s 1952 102 2 102,2 4s 1951 101.16 100.16 Federal Farm Mortgage Corp. 3ts 1964 103 27 103 27 3s 1949 102 2 102.3 3s 1942-47 102.4 102 DOMESTIC Prev. Close, close. Alleg Corp 5s ’44 70-a 70‘y Alleg Corp 5s '49 61 61 5 Alleg Corp 5s 'SO 18 : a 20 Am "Frgn Pow 5s 2030 56 57'a Am Tel & Tel s> 3 s 43 113 112’g Am Tel & Tel 5s 65 112 112 Arm A* Cos )Del> s’ 3 s ‘43 105 3 a 105'a Atl Coast, Line 4s '52 102'a 102' 2 Atl Coast Line 4 ! 2S '64 86 87 Atch Top A- SFe 4' 2 s '4B J 06 1 2 108 Am Wat Wks 5s '44 91>a 92‘.a An: Rolling Mills 5s ’3B 106 107 Balt A- Ohio 5s '95 61 62 3 2 Bait A- Ohio 6s '95 71 3 4 73' 3 Balt A- Ohio 4' 3 s '6O 44' 3 46 : 3 Buff A- Roch A- Pitt 4’ 3 S '57.. 59 3 4 61 Beth Steel 5s '36 103 3 s 103>4 Chi Mllw A- St PI 5s '75 15 3 4 17 Chi Milw A- St P 5s 2000 4> 4 4 3 4 Cleve Un Term 5s '73 92 *2 93 C’.eve Un Term 4’:s '77 85 85-2 Col Gas 5s Mav '52 78 3 4 77> 3 Col Gas 5s 61 77 76^4 Can Pac Perp 4s 85'4 85 3 Cent Pac 5s 60 75'a 76 3 B:g Four 4 ! 2S '77 60 61 Chi A* West Ind 4s '52 98>3 98' 4 Chi A- West Ind 5 ; 3 s 62 103 3 4 104 Chi A- Nor West 4\s '49 14 3 a 15 s * Con Gas 5s '57 105'4 105>4 Chesa Corp 5s '47 104’a 105 Dodge Bros 66 ’4O 106 ! a 106’ 4 Del A- Huds 4s '43 85 85 ! 3 N Y Dock 4s 'sl 65 5 65 3 4 N Y Dock 5a '3B 45 3 a 45 Erie 5s '75 . 60'* 62‘i Erie 5s '67 61V* 64 5

SEEK STRICTER SHIPJJNE RULE Would Effect Necessary Reforms, E. F. Luckenbach Declares. By United Press HOUSTON, Tex.. March 6.—Government regulation of water carriers similar to that of railroads is advocated by Edgar F Luckenbach, head of the Luckenbach Steamship Cos. Regulation is needed to ‘‘discourage improper competitive practices,” he said. In a minority report prepared as a member of the steamship affairs committee of the Maritime Association of the Port of New York, Luckenbach said the majority of the committeemen were affiliated with organizations which operate lines in connection with large industrial interests. ‘‘lt is very obvious that a committee, the majority of which had affiliations as outlined,” he said, ‘‘would not be favorable to any legislation that would restrict large industrial interests, either as to their carryings or rates they might be able to obtain. ‘‘l believe that there should be certificates of public convenience and necessity. Industrial carriers do not want this, but I, who am dependent exclusively on transportation, certainly believe it is a wise thing, and as it has worked with the railroads, why should it not with equal fairness work with water traffic?” It was his opinion all carriers should be placed under a single government body. ELGIN WATCH NETS $736,358 IN YEAR 1934 Was First Profitable Period Since 1929, Report Says. By Times Special NEW YORK, March 6.—Elgin National Watch Cos. had net income of $736,358 after charges for 1934, equal to $1.85 a share on the 397,000 capital shares, excluding the 3000 shares in the treasury, marking the company’s first year of profitable operation since 1929, according to the annual report today. The 1934 net income compares with a net loss of $263,372 in the year ended Dec. 31, 1933. The balance sheet as of Dec. 31, 1934, shows an increase in net working capital to $7,771,086 from $5,722,030 at the close of 1933. All items of current assets were increased with the working capital gain, cash, government security holdings and inventories showing the largest advances.

Gen Cable 5%s ’47 89% Grt Northern 7s ’36 87% 88 Grt Northern 4%s '76 72 73% Grt Northern 4%s '77 71% 72% Gen Stl Cast WW 5%s ’49 82% 83% Hud & Manhat Ref 5s ’57 ... 89 89% II Cent 4%s '66 50% 52% 111 Cent Jr 4%s ’63 61 % 64% 111 Cent 5s ’63 66% 66 Interlake C & Iss ‘sl 76% 77 Interntl Hv Elec 6s ’44 37 38 Interntl Tel & Tel 4%s '39.. 66% 67% Interntl Tel & Tel 5s '55 ... 61 62* 2 Interntl Tel & Tel 4%s ’52... 56 57% P Lorillard 7s ’44 126% 126% McKess & Rob 5%s ’SO 99 99% Midvale Stl 5s ’36 103% 103*4 Natl Dairv 5%s '4B 104% 104*4 Natl Steel 5s '56 107% 107% Nickel Plate 4%s ’7B 56% 53 Nickel Plate 5%s ’74 66 67% Nickel Plate 6s '35 58 61% N Y Cent 5s 2013 56% 58% N Y Cent 4%s 2013 (oii) 51% 53% Nor Amer Cos 5s ’6l .... 85% 85% Nor Pac 3s 2047 76 76 Nor Pac 4%s 2047 83% 83% Nor Pac 6s 2047 95* 2 96 Nor States Pow 5s '4l 106% 106% New Orleans Term 4s ’53 33*4 83% Otis Steel % ‘4l 8C 8! Penn Rv 4%s ’B4 104 104% Pen Rv 4%s 'Bl 104 104% Pen Rv 4%s ’7O 94% 94% Pac G & E 5s ’42 107 107% Portland Gen El 4%s ’6O 56% 57 Para Puh'ux 5%s ’SO 74% 75% Penn P & L 4%s 'Bl . 103% 103% Postal Tel A- Cab 5s ’53 45 45% Rem Rand WW 5%s '47 103 103*4 Sinclair Oil 6%s '3B 103% 103% Shell Union Oil 5s ’47 102% 102% Sou Pac 4*2s '6B 62% 64 Sou Fac 4%s 'Bl 62 62% Sou Pac 4%s ’69 62% 63% Sou Pac 4s '49 67 67% Sou Rail 4s ’56 43% 45% Sou Rail 6s '56 61 61% Sou Rail 6*'S ’56 62% 64 Sharon Stl Hoop 5%s ’4B 83*4 84*. Texas Pas 5s ’BO 87% 88% Tex Pac 5s ’79 87 * a BR% Texas Pac 5s ’77 88 90% Union FAic 4s '47 11l 111 United Drue 5s ’53 89% 90 U S Rubber 5s ’47 95 95 NY NH & Hart 6s ’4B 35 37 % NY NH & Hart 4%c '67 31 32 Warner Bros 6s 39 50% 52% Western Marv 5%s ’77 98% 99% Western Marv 4s ’52 94% 95 Youngstown S&T 5s ’7O 94% 94% Youngstown S & T 5s ’7B .... 94% 94*4 FOREIGN Argentina A6s ’57 93% 93% Argentine B 6s 58 93* 94*4 Brazil 8s ’4l 32% 31% Canadian Govt 4s ’6O 105% 105’ 2 Denmark s*?s ’55 99% 99% French 7s ’49 188 187 German 5%s ’65 32* 2 33*; German 7s ’49 43*2 44% Italv 7s 'sl 90*a 90 jaoan 6%s '54 92 92% Poland 7s '47 125*4 %5 Rome 6%s '52 81*4 81*4 Tokio City 5%s 61 79 78% Yokohama 6s '6l 84% 84- 3 FEDERAL FARM LOAN BONDS (Bv Blvth & Cos.) Bid. Ask. 4s July 1. 1946—44 105*. 105% 4s Nov. 1. 1957—37 103% 103 4s Mav 1. 1958—38 103*. 103% 4%s Julv 1. 1958—35 103% 104 4%t Jan. 1. 1957—37 103% 104% 4%s Mav X. 1957—37 103% 104% 4%s Nov. L 1958—38 103%

PAGE 11

STOCKS SOAR ON ROOSEVELT DOLLAR REPORT Statement on Money Cause of Rise of Fractions to 3 Points. By United Press NEW YORK. March 6. —A statement by President Roosevelt to the effect the dollar was not yet low enough in relation to debts set off a rise of fractions to more than 3 points in stock, a jump in wheat and a sharp decline in the dollar in terms of all foreign currencies. Wall Street interpreted the President's remarks to indicate he was thinking of further devaluation, although that was not brought out at his press conference. U. S. Smelting, leading silver issue, spurted 3% points to 119%. Noranda and Mclntyre Porcupine in the gold section jumped more than 2 points each. Other silvers and golds followed. Case was bid up more than 2 points in the farm shares. Steels, oils, rails, utilities and store shares came back. Gains of 2 points or more were numerous and dealings picked up. By noon the rally was over. Volume decreased and many prices slipped back from the highs, although a fair amount of gain was retained.

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $2,025,000.00 Debits 5.470.000.00 TREASURY STATEMENT (By United Press) WASHINGTON. March 6.—Government expenses and receipts for the current fiscal year to March 4. compared with t'ne corresponding period of the previous fiscal year: This Year. Last Year. Expenses $4,618,182,412.96 $4,305,863,813.06 Receipts 2.2313,783.910.65 1.019.348.251.84 Deficit . 2.304.398.502.31 2.386.515.562.12 Cash Bal. 2,023,966,275.08 4.871.471.081.02

Chicago Stocks

ißv Abbott. Proctor & Paine). 11 00 Frev. A. M. close. Berehoff 2% 2% Butler 6% 6's Bore Warner 31 '4 31 Chicago Cork 2 2 Chicago Corn Pfd 293% 29% Com & Edison 54 2 so‘ 2 Grt Lake:. Dredge IS 1 a 18 a Libby 6 7 7 Natl Standard 27 27% Swift 17,4 IV' Walgreen 28’ 4 29 GRAIN PRIGES JUMP 2 GENTS IN CHICAGO Values Spurt on News of Roosevelt's Press Parley. By VtiitrrJ Press CHICAGO. March 6.—Grain prices shot up nearly 2 cents a bushel today after President Roosevelt told a press conference he did not think the dollar had gone back far enough in relation to debts. The grain trade construed the news as bullish and the market was more active '.an for several weeks. Confusion reigned in the wheat pit. Brokers rushed about wildly waving orders to buy. Operators whose grain holdings were “short” dashed in to buy to protect their interests. At the end of a furious few minutes of trading all grains were nearly 2 cents a bushel higher. Wheat was up V/2 cents to l 3 i cents, with the Maty delivery reaching up to 97’2 cents a bushel. Corn was up l~k cents, and oats were up T!i cents to 2 cents. The market started lower on bearish news from the Southwestern winter wheat belt. (Bv James E. Bennett 1 11:00 Prev. Wheat— High. Low. A. M. close. Mav 97% .95% .96% .95% Julv 92 1 2 .90 .91% .90’ 2 Sept 91% .39 3 8 .90% .89 7 b . Corn— Mav 84% .81% .82% .82% July 80 .77 .78% .77% Sept 77 .74 .i5% .74% Oats— Mav 50% .48% .49% .48% July 44% .41% .42% .42% Sept 42% .39% .40% .40% Rye— Mav .65% .63 .64 .63% July 65% .63% .64% -63 % Sept 65% .63% .64% .63% LOCAL CASH MARKET City grain elevators are paying 86 cents for No. 2 soft red wheat. Other grades on their merits. Cash corn No. 3 yellow 80 cents and oats 46 cents. INDIANA BELL NET RISES DURING 1934 Company Cuts Into Surplus to Pay Dividends. Net income of the Indiana Bell Telephone Cos. for 1934 totaled 51,588.480. compared with $1,495,161 in 1933, according to the annual report of the company issued today by James F. Carroll, president. The amount of $61,519 was taken from surplus in order to meet 1934 dividend requirements of $1,650,000. Total operating expenses of the organization in 1934 aggregated 56.934.776, compared with $6,593,917 the previous year. The balance sheet showed a surplus at the end of the year of $1,554,472, against $1,626,523 on Dec. 31, 1933. A net gain of 4697 in telephones was reported during the year. Gross revenues from long distance toll service increased approximately $190,000 over the total for 1933. Total operating revenues during the year were $10,258,664. against $9,947,332 in the preceeding year. WINS SAFETY CONTEST The 1934 Annual employes safety contest of the Pennsylvania Railroad was won by the Western Region, with headquarters in Chicago, it was announced today. The Indianapolis, Ft. Wayne and Grand Rapids division, included in this group, had a perfect safety record, the report said. L

What Does It Mean? Registered Bond —An obligation uhich is registered in the name of a person is known as a registered bond.

Aim to Sell Beer in Tins Under Study Retail Merchandising Tried Out and Is Watched by Industry. By Times Special NEW YORK. March 6.—The merchandising of beer in tin cans, which is being tried out for customer reception in Richmond, Va.. by the G. Kreuger Brewing Cos. of Newark, is being watchel closely by the brewing and can industries, it was learned today. Thus far its advocates are enthused over its reception. The can, of 12 ounce capacity, can withstand an internal pressure of 90 pounds per square inch. It is an innovation of the American Can Cos. which has developed the new product at its Newark plant in collaboration with the nearby Kreuger brewery. Special bottling machinery also has been developed. Saves Weight, Space Proponents of the tin can container for the merchandising of beer declare its main advantage to be the saving in weight and space over the bottle, whether in the hoir.e and retail store refrigerator or the warehouse and delivery truck. Appreciable savings in freight costs are thus indicated. The “nuisance” value of bottle returns, refunds and spoilage would be eliminated, it is said. A carton of two dozen cans of beer weighs less than half that of a case of two dozen beer bottles, and occupies one-half the cubic space, it is asserted. The volume content of the twelve ounce can euals that of the beer bottle. The retail price is the same. Where the average carload accommodates 800 cases of bottles. 1800 case? of beer in tin cans can be handled. This would allow a great advantage in freight and handling to nationwide beer distributors. Eliminates Deposits An important advantage to the retailer, distributor and brewer claimed for canned beer is the absence of the troublous bottle deposits, refunds and breakage. Once used the tin can be thrown away. Among other advantages claimed for the sealed can is the fact that light is excluded from the brew. Much beer is put in dark bottles to protect the contents from losing pep from light. Moreover, the tin can may be chilled quickly, thus speeding up and Simplifying the manufacturing process. In the pasteurization of oeer the tin can is not sensitive to quick cooling from a high temperature. In the bottling process the glass bottle must be cooled by stages. The American Can Cos. plant at Newark is equipped on an experimental basis. If the merchandising of beer in tin cans comes up to the expectations of its sponsors, the American Can Cos., it will equip for nationwide distribution. Similarly brewers adopting the can would need equip with new filling machinery developed by the American Can Cos. The special filling machinery avoids any foaming during the filling operation and the processing is also faster than the bottle filling operation, it is said.

Stock Studies

MINNEAPOLIS-HONEYWELL $ COMMON STOCK PER I IPB<E SHARE EARNINGS PRICE RANGE scale ■ : iF3linTT" o 1.,. ° |3Q 31 32 33 34j30 31 32 3334 WINCHESTER INSTITUTE OF FINANCE

The Minneapolis-Honeywell Regulator Cos. is the leading manufacturer of automatic heat controlling instruments, and is the growth of a business originally established in 1885. Products are for use in all kinds of heating plants for controling temperatures, and also for use in controling pressures, combustion, etc. The company has recently brought out anew device called the “Modustat.” for the control afn regulation of temperatures in individual rooms or sections of buildings. The increased use of oil and gas for heating purposes, together with the growth of air conditioning, has stimulated sales. Plants are in Minneapolis, Minn., and Wabash, Ind., with branch offices in 34 cities of the United States and Canada. FINANCIAL DATA As of Dec. 31. 1934 Common Stock 'no pari 207,302 shares 6% Preferred Stock (SIOO par). $2,327,300 Su. pluses 2.161874 Cash and Securities 2 609.614 Inventories 1.929.025 Total Current Assets 5.516 618 Current Liabilities 431 054 Minneapolis-Honeywell was incorporated in its present form in 1927 in Delaware. Both the common and preferred are now listed on the New York Stock Exchange. At a current price of around 72%, the stock sells to yield better than 4 per cent on its regular dividend rate, and for 15H times earnings. (All Rights Reserved. Winchester Institute of Finance. Winchester. Mass.) JONES MAKES REPORT RFC Lent $96,000,000 During January Chairman Says. By United Press WASHINGTON. March 6—Reconstruction Finance Corp. Chairman Jesse H. Jones has reported to Congress that his agency during January made loans totaling $96,000.000 and received repayments of $94,000,000. Mr. Jones pointed out that the $96,000,000 included the last remaining $30,000,000 installment of the $500,000,000 a’lotted to the Federal Emergency Relief Administration. Included in the January loan? were $12,138,000 to bank and trust companies and $2,000,000 to mortgage loan companies. J. P. CRANFORD PROMOTED Promotion of John P. Cranford, division operator of the Grand Rapids division of the Pennsylvania Railroad, to supervising agent-divi-sion operator of the Indianapolis division, was announced here today.

PORKER PRICES NEAR $lO MARK AFTER UPTURN Most Values Rise 10 Cents: Best Classes Sell at $9.90. Following an advance of 10 cents in several grades of hogs at the Indianapolis Union Stockyards today, prices for bette*’ classes were within 10 cents of the $lO level, the highest on record since October, 1930. The moderate increase, however, was not general and the lightweight classes were mostly unchanged at yesterday’s best average. Including today's upturn, porker values from Feb. 1 to date show an increase of SI.BO a hundredweight. Trading continued extremely active with a large demand prevailing in the majority of classes. With receipts extremely light and a heavy demand from various packing firms still evident near the close of the local exchange today, several livestock dealers were advocating a $lO top for tomorrow's session. Supplies on hand today were estimated at only 4500, while yesterday’s figures totaled 5000. Holdovers numbered 172. The bulk price of porkers, ranging from 130 to 350 pounds, held at $9.70 to $9.85. Few classes of good and choice kinds were responsible for the $9.90 level. Lightweights, scaling 130 to 160 pounds, brought $8.25 to $9.25, while extremely small grades, weighing 100 to 130 pounds, cashed in at $7 to SB. Packing sows sold at $8.25 to $9. Initial dealings were steady to strong in the cattle market. Two loads of slaughter steers were valued to sell at $12.75 down, while other classes ranged from $8.50 to sll. She stock also remained unchanged. Receipts were 1100. With only slight interest evident in veals, prices continued stationary at $lO down. Receipts were 700. Activity was limited in the lamb market and prices were mostly steady in dull trading. Few grades of fed Western lambs held steady at $9 down, while native classes brought $8.50. Quality was considered in the various classes. Throwouts ranged from $6.50 to SB, Slaughter sheep sold at $5 down. Receipts were only 1000. HOGS Feb. Bulk. Top Receipts. 28 $9.3(K 9.55 $9.60 3000 Mar. 1 9.30'® 955 9.60 4500 2. !>.6o(fi! 9 75 9 75 1000 4 9 no'll 9.70 *9.75 4000 5. 9 60® 9.75 9 80 5000 6. 9.70®. 9.85 9 90 4500 Light light: , , ... (140-160) Good and choice . $8.75® 9 50 Medium 8.25® 9.25 Light weight: : 160-180) Good and choice . 9 io® 9.75 Medium ■ 9.10® 9.50 (180-200) Good and choice ■• 9 75 fa 980 Medium 9.25® 9.60 Medium weight: . • „ (200-220) Good and choice . 9.75® 9.8+ (220-250) Good and choice... 9 80® 9.90 Heavv weight: (250-290) Good and choice... 9.80® 9.90 (290-350) Good and choice... 9.70® 9.80 Packing sows: .. (275-350) Good 8 85® 9.15 (350-425) Good P 75® 9 00 (425-550) Good 8 60® 8.90 (275-350) Medium 8 25@ 8.75 Slaughter pigs: , . _ „„„ „.. (100-140) Good and choice .. 7.00® 8.75 Medium 6.25@ 8.50 CATTLE —Receipts, 1100— —Steers—-(sso-900) Choice $10.75® 12.75 Good 9 50 ® 11.75 Medium 7 00® 9.75 Common 5.00® 7.25 (900-1100) Choice 12 2o® 13 50 Good 9 75® 12.75 Medium 7.75®10.00 Common 5 50® 7.75 (1100-1300) Choice 12 75®13.75 Good oo® 12.75 Medium B.oo@ 10.00 (1300-1500) Choice 12.75®13.75 —Heifers—-(soo-750) Good 10.25® 12.75 Choice 9.50® 10 50 Good 8 50® 9 50 Common and medium 4.50® 8.50 (750-900) Good and choice ... 8 75® 10.75 Common and medium 4.75® 8.75 —Cows— Good 6 00® 8.00 Common and medium .... 4 25®! 6 00 Low cutter and cutter 2.25® 4.25 —Bulls—(Yearlings Excluded) Good . 5.75® 7.00 Common and medium 3.75® 5.75 VEALERS —Receipts, 700 —• Good and choice $ 9.50® 10.00 Medium 7 50® 9.50 Cull and common 3.50® 7.50 —Calves—-'2so-5001 Good and choice ... 6 25® 900 Common and medium 3.50® 6.25 —Feeder and Stocker Cattle——Steers— (soo-900) Good and choice.... 6 00® 800 Common and medium ... 4 50® 600 (900-1050i Good and choice... 6.00® 825 Common and medium 4.50® 6.00 —Cows— Good 3 75® 4.50 Common and medium . 3.25® 3.75 SHEEP AND LAMBS —Receipts, 1000— Lambs. 90 to 120 lbs., good and choice $8.25® 9.00 Common and medium . . . 6.00® 8.25 90-120 lbs., good and choice .. 4.00® 5.00 Sheep: (120-150) Good and choice • 3 50® 4.75 All weights, common and medium 2 50® 3.75

Other Livestock

(By United Press) CHICAGO, March 6 —Hogs—Receipts. 10,000; including 3,000 directs; estimated holdover, 1.000; market, slow; 10 cents higher than Tuesday weights above 200 lbs. $9 80®9 90; top $9.90; 160-200 lbs., $9.80®9 85; light lights, $9 1009.65; slaughter pigs. $7.50®9.10; packing sows. $8.90® 3 05; light lights, 140-160 lbs., good and choice. $9®9.65; light weight, 160-200 lbs . good and choice $9 40® 9.85; medium weights, 200-250 lbs . good and choice $9 65®9 90; heavy weights. 250350 lbs., good and choice, $9.75®9 90; packing sows. 275-550 lbs., medium and choice. $8 10®9.15; slaughter pigs, 100-140 lbs . good and choice, $7.50® 9 25. Cattle —Receipts. 9.000 calves, 1 500; fed steers and vearlings very active; unevenly strong to 25 cents higher; inbetween and lower grades showing most advance: general run selling 50 cents higher than top sl4 10; best yearlings $13.65 heifer year--I,ngs. $lO 50; largely $9 25® 12.75 market; all she-stock firm to unevenly higher; bulls steady; sealers steady to 25 cents lower: slaughter cattle and vealers: steers, 550-900 lbs , good and choice. slo®l3 25; 900-1100 lbs., good and choice, slo® 14; 1100-1300 lbs., good and choice, $10.75® 14 10; 550-1300 I’os common and medium 55.75® 10.75; heifers, 550-750 lbs. good and choice $9.50® 11.75; common and medium. $5 25® 9.75 cows good. $7.25®9 75; oommon and medium. $4 75® 7 25; low cufer and cutter. S3 25®4 75: bulls (yearlings excluded), good (bef', $5 25® 7; cutter common and medium. $4®5.50; vearlings good and choice. $7 50® 9 75: medium. s6® 7.50: cull and common. ss®Bi stocker and feeder cattle' steers 550-1050 lbs. good and choice. $6.25® 8.50: common and medium. $5 25® 6 50. Sheep—Receipts. 12 000. opening slow; undertone weak to 25 cents lower on slaughter lambs; and feeding lambs little changed: talking around $8 50® 8.75 on be’ter grade fed westerns now held at $9 and above; few ewes, $4.50® 5.25: slaughter sheep and lambs: lambs 90 lbs. down, good ®*l® choicp. sß®9 common and medium $6.i5 ®8 15 90-98 lbs good and choice. 5<75® 9 ewes 90-150 lbs good and choice, $4 'l/ 5 50; all weights common and medium. S3® 465 feeding lambs, 50-75 lbs., good and choice. $6 75®7 50. LAFAYETTE March ■—Market Iteadv •o 10c higher; 200-300 lbs rt 70'/9 %; 300325 lbs . $9 60: 160-200 lbs S9 IO'vSAO. 150160 lbs $8 75® 9: 150-150 lbs $8 25'8 50. 120-130 lbs . $7.75®8. 100-120 lbs $(37.50. roughs. $8 75 down. Calves— -Steady. $8 down Lambs—Steady; $8.75 down. FT WAYNE. March 6.--Hogs—Steady to 10c higher 200-250 lbs $9 75 250-300 bs . $9 60; 300-350 lbs . , 180-200, ■'ft: $9 65: 160-180 los.. $9 55: 150-160 m .. 140-150 lbs $8 50 130-140 lbs *8 130 lbs.. $7.75. 100-120 lbs 88 25. stags. 86. Calve*. S3 50; lamb*.. #8.59-