Indianapolis Times, Volume 47, Number 183, Indianapolis, Marion County, 10 October 1935 — Page 24

Trends mao Associated Gas to Take Steps to Clean H ouse. BY VINCENT LYONS

Tihim Financial Editor |T is fitting that the Associated * Gas and Electric Cos., the chief critic of the Wheeler-Rayburn holding company bill when that measure was in the process of being enacted into law, should he among the first of the power and light companies to take steps to clean its house in accordance with the bill's provisions, which go into effect Dec. 1 In a hearing before a Federal judge in New York City it was disclosed that, plans are under way to bring about a simplification of the company's corporate structure. By this method the Associated Gas and Electric Cos. hopes to rearrange the system in such a manner that there, are one or two fully integrated holding companies controlling the approximately 200 underlying operating companies. Thus,, such a shake-up would bring the company into the Wheel-er-Rayburn act’s desired field of, at the most, two holding companies for each system of companies. More than that, it will mean the elimination of several score holding and sub-holding company units which now complicate the structure of the Eastern utility. 808 AT the hearing it was disclosed • that 24 of the holding companies already have been removed and that steps are being taken for the elimination of 15 others. Os the units already relegated to the scrapheap as corporate entities, 21 of them were welded into the fabric of other subsidiaries by means of mergers or consolidations and the remaining three were peremptorily dissolved. Os course it might be argued that there is little else for the Associated Gas and Electric Cos. to do, under the circumstances, but to comply with the act. In view of the w idely circulated reports of the unconstitutionality of the law by spokesmen for the public utility industry. Associated’s ambitious attempt to comply with it in the face of such attacks endows it with some significance. The utility’s move to clean its house might mean one of two things: Either it is not so sure of the unconstitutionality of the legislation or it has arrived at the conclusion that the elimination of manv of the units in the system W' and be a sound move. B B B HOWARD C. HOPSONS resignation as an officer and director in all units of the Associated Gas and Electric Cos. might be construed as a further indication of the changed attitude of the company. It was hinted that Mr. Hopson’s health has been a factor in this decision. Those who like to look below the surface of things, however, are not so sure that Mr. Hopson's physical handicaps dictated his action. To a large proportion of the public Mr. Hopson will always be identified with holding companies. This same group of people, or at least a good percentage of them, look upon the holding company as the cause of many unsavory practices in the public utility field. Consequently, complete divorcement of Mr. Hopson from the official family of the Associated Gas and Electric Cos. would go a long way toward ending this association of name and practice. How well Wall Street liked the news that the company was putting its house in order can be seen from the fact that the six issues listed on the New York Curb Exchange climbed 11-,l 1 -, to 4 points in the first few days this week. On Commission Row Quotations below, subject to chance, are average wholesale prices being offered to buyers bv local commission dealers Fruit —Bananas. 3c a lb. Peaches, Michigan Elberias. bu. $1.75. Pears. Michigan Bart let s. bu.. $2 40: Michigan seckles. bu $1 50 Cantaloupes—Honey Dews. Colorado 6s 6s $1.50. Watermelons Indiana Round 15020 c. Apples (new) Indiana Jonathans, bu.. $1 25m 165; Grimes Gobta. bu $155 Summer Rambos. eating. !• $1.15. Maiden Blush. $1.55: Wealthvs. bus., $1 Lemons. 560s $6. Grapefruit. Isle of Pine $3 25. Limes, a carton. 12s. 20c Persian seedless per 100. $3. Vegetables—Beans, green, round stringless bu. $1 50: Kentucky Wonders $1 25. Beets, home grown, doz.. 20c. Cabbage, home grown. 50-lb. bag. 75c Carrots home grown and Ohio. 30c: new bulk, half bu 65c Cauliflower. Colorado. 11s. 12s. crate $1 75 Celery Michigan, washed and trimmed. Jumbo doz. 60c; medium, doz.. 45c: hearts, flat, $1.25. Corn, home grown, doz . 20c Cucumbers home grown, bu.. $1 80 Kale home grown, bu.. 40c Lettuce. IcebeVg. California, best. $4.00. horn? grown leaf 15-lb basket. 50c Endive. Ohio, basket. 45r Mangoes home grown bu.. $1 25 small basket. 35c Mint, doz . 50c. Mustard, home grown, bu . 90c. Onions, home grown, yellow' 50-lb bag. 90c: home white, 50-lb bag. $1: Utah Spanish. 50lb bag, $1 35 Parsley, home grown, doz , 35c Peas, telephone, hamper. $3.25. Potatoes Eastern. Jerseys, bu , SI.OO. $1 50: Michigan Round white. 100-lb bag, $1 25 Firlv Chios, bu.. $1.35. Sweet potatoes—North Carolina. Jerseys, bu.. $1 10. Radishes. Ohio buttons. 2-doz. baskets. 60c Rhubarb, outdoor doz 30c Sage, doz.. 45c Spinach, New Zealand, bu.. 65c. Squash summer white. 30c Turnips, new bu . $125, bunch, doz. 30c Tomatoes, home grown. 10-lb. basket. 45c, bushel, $1 50. FRI ITS AND VEGETABLES (By United Press) CHICAGO Oct 10 Apples—Michigan, bushel, wealthles. 75cm $1 Carrots —lllinois. bushel. 35m 40c Sweet potatoes— Tennessee, bushel. 65m75c Lvans -Illinois. bushel. s2m 2 25. Cabbage -60 to 70 lb erstes. 354i 50c Peas—California, bushrl hampers. $2 60a/ 3 Tomatoes— Michigan, 12-qt baskets. 25m 50c Spinach —lllinois, bushel. 40m.50c Lettuce—Western crates. 5 dozen $2 25m 275 Teaches— Michigan, bushel 75c •/$1 15 Cucumbers —Louisiana, bushel, (1.2502 Celery— Michigan, crates <125 'l5O Pears Michigan. bushel $1 25m 1 75. Onion market <SO lb sacks' Idaho whites. 75c; Idaho Valencias *l®los 'large'. Illinois yellows. 60m 65c; low a yellows. 75c Cnlisted Stock ißy Blyth A- Cos. < NEW YORK BANK STOCKS Bid. Ask Bankers .. 53'* 55 1 a Central Hanover B A- T 104'* 106'* Chase 28% 30 Chemical National .. 45% 47% Guaranty ■ 260% 264 Irving 13'* 14% Manufacturers 29'* 3i1% National City 27% 28% Cont 111 (Chicago) 61 63 First Natl of Boston 37’* 39 FIRE INSURANCE Aetna Fire . 55% 56% Citv of New York Ins inewi . 25 27 Federal Ins 76% RO Great American Ins 25 26% Hanover Fire Ins .. 37% 40% Hanford Fire 74'-* 76% Home Insurance ... 31% 33% Ins Cos of N A 66 1 j 68% National Fire 72 74 North River Insurance .. 25% 27% Phoenix Insurance . 88 90 V S Fire 51 53 Westchester Fire 33' 351* RIEHLE NAMED TO POST By Time* Special NEW YORK. Oct. 10—Theodore M. Rier.le. former president of the National Association of Life Underwriters, has been appointed a director of the American College of Life Underwriters, it was learned today.

♦ ♦ Abreast of The Times on Finance ♦ ♦

PAGE 24

EXCHANGE AIMS ‘QUOTE’ SERVICE FOR 320 BONDS Action Awaits Subscription bv Members; Expense to Bs Provided. By Times Special NEW YORK, Oct. 10.—The New York Stock Exchange today informed member firms that it was ready to go ahead with the task of establishing a “bond quotation service’’ similar to that now maintained for stocks, if enough members signify their willingness to subscribe for such a service. The committee on bonds, which has had the matter under consideration, has decided that such a service is entirely feasible, it told member firms in a letter, but that, in its initial stages, it probably would be quite costly. It is planned to set up a system which, at the outset, will be limited to the industrial section of the “can,” as the filing cabinets in which quotations are kept on the floor of the Exchange are commonly referred to. To Cover 320 Issues This service would cover a total of some 320 issues and would be fast, accurate and dependable, the committee states. But for the plan to become operative it will be necessary for a substantial number of member firms to state their intention of becoming subscribers. The committee, on the basis of data in hand, has informed members that the cost per member firm I will run somewhere between SSO and : SIOO, depending on the number of subscribers. It was plainly stated by the comI mittee in its letter, that the Ex- ' change would refrain from going ahead with its projected plan unless it was assured that the number of subscribers would be sufficient to pare the cost for such service to a level below SIOO a firm. In Operation Several Years The stock quotation system, which keeps the current record of bid and asked quotations, in other words, the prevailing market, has been in operation for several years and with complete satisfaction to members. This service also is maintained by subscription and operates from a central room on the fifteenth floor of the Exchange Building. Members are in direct contact by private telephone. Aside from a number of operators who work the private wires this °rvice requires the services of some 100 “quote” boys on the floor. Each of the “quote” boys is responsible for the quotations on a given number of stocks, and as the market for a given issue changes the boy covering that stock immediately flashes the change to the central quotation room, where the new quotations are registered automatically on a monitor board. GOLD. SILVER INFLOW LIFTS MONEY STOCKS All Time High of $15,489,276,690 Reported in September. Hi/ United Press WASHINGTON, Oet. 10.—Monetary stocks of the United States reached an all-time high of $15,489.276,690 at the end of September as a result of huge gold and silver importations, the Treasury reported today. War abroad has sent considerable capital here recently for safety. Stocks on Sept. 30 compared with monetary stocks of $15,250,447,938 at the end of August and with only $3,797,825,099 on June 30, 1914, before the outbreak of the World War. Total monetary gold stocks in September amounted to $9,367,819.794, compared with $9,202,928,740 at the end of August. Standard silver dollars increased from $546,242,265 to $.547,080,802; silver bullion from $358,926,196 to $392,871,853 and subj sidiary silver from $316,271,266 to ! $317,176,410.

STABILIZATION NEAR FOR RUSSIAN RUBLE Finance Minister Believes Early Action Will Be Taken. By Times Special MOSCOW. Oct,. 10.—G. F. Grinko, Finance Commissar of Russia, today predicted that stabilization is near for the Soviet ruble, which circulated widely during the years of expensive building of state industry following adoption of the fiveyear plan in 1928. Although he did not specify the time or rate of stabilization, he predicted that early action will be taken on the currency. Material foundations for such stabilization have been provided. Mr. Grinko said in an article in the official organ, Pravada. The State Bank of Russia recently published a statement showing that its holdings of gold, other metals and foreign currency bills an*iunted to more than 1,000.000.000 gold rubles (approximately $875,000,000), of which 960.000.000 (approximately $859,000,000' were gold. STORES 38 YEARS OLD Standard Grocery Anniversary Celebrated This Month. The Standard Grocery is celebrating its thirty-eighth anniversary this month. The company employs 1200. Established in 1897, the stores were one of the first cash-and-carry grocery units in Indianapolis. Standard Grocery Cos. executives say that concentration of stores within city limits results in savings cn warehousing, freight, long-dis-tance hauling and buying. Thus, it is held, lower prices are possible. Money and Exchange INDIANAPOLIS STATEMENT Clearings $2.366 000 Debits 4.924,000 TREASURY STATEMENT I By United Press' V ASHINGTON Oct. 10.—Government expenses and receipts lor the current fiscal vear to Oct 8 as compared with a year ago: This Y'ear Last Y’ear. Expenses 42 022 506,091 *1 704 297 941 Receipts 1 080.502.133 1.078.674 076 Deficit 942 003 958 625 623 865 Cash Bal. ... 1,734,318.084 2.129 328,348

INDIANAPOLIS, THURSDAY, OCTOBER 10, 1935

New York Stocks

(By Thomson * McKinnon). I Oils—--11 15 A M Prev High Low N Y. Close Amerada 65% 65 65% 65 All Rig 21% 21% 21 3 21 1 I Barnsdall 9% 9% 9% 9m, Consol Oil .. B'* B>a 8 1 9 8 Com of Del 20'* 20 20 20 Houston newi .. 4'* 4 4 3% Mid Cont Pet .. 10% 10'* 10% 10>* O.iio 0:1 ■ 10’4 10’e 10’ 4 10 Pet Corp ... 9% 9% 9% 10 Phillips Pet .. 29’ 4 29% 29’ 2 23 1 e I Pure Oil . 8 8 8 8 Roval Dutch .. 42 1 2 4.', 42' 2 42% Seaboard Oil ... 29 28'* 28’ a 23'2 ! Shell Un • 9'2 9' a 9% 9% I Skeilev Oil 10', 2 10’ 2 lOV2 10’ 2 Soc Vac .. 11 10% 11 10% S O of Cal 32% 32'2 32’ 2 32 ’* S O of Ind . 25’ * 25 25' * 24% S O Os N J 44’* 44’* 44”* 44% Texas Corp 20 3 4 20% 20 3 * 20'2 Tidewater Assn 9 8% 9 8% Un Oil of Cal . . 18 1 17% 17 7 a 18 j Steels— Am Roll Mills . 25% 25'g 25'a 25'2 Beth Steel 37% 36'4 37’, 37 Col Fuel & Iron 2’ 2 2' 2 2% 2', Inland Steel 94% 94 94% 94% Mid Steel 22% 22 22' 2 21 3 8 ! Natl Steel 69% 69% 69% 69 ; Otis Steel . 15' 4 14% 14' 8 14% : Rep Ir & Stl 16 15% 16 15% Rep Ir & Stl pfd. 71 $4 71% 71% 71 U S Pip A- Fay 18'e 18% 18% 17% U S Steel 44% 43% 44 43% : U S Steel pfd . 109 103% 109 107% I Warren Bros . 3% 3 3 a 3% 3% Youngst'n B& T 24% 24% 24% 24% Motor*— Auburn 38 37% 37% 37 Chrysler 75 74 74% 73% Gen Motors 47% 46% 46% 46% | Gen Mot pfd . .115 115 115 118 j Graham Mot .2 2 2 1% Hudson 14 13% 13% 12% Hupp 2% 2% 2 '4 2*4 Macx Truck . 41% 20% 21% 21 Nash 15% 15% 15% 15% Packard . • 5% 4% 5% 5 R.'O 3% 3% 3% 3% Studebaker . .. 5% 5% 5% 5% ( Yellow Truck 5% 5% 5% 5% Motor Access— Bendix 22 21% 22 21 % Bohn Alum .... 47% 47 47% 46% Borg Warner . . 586 58 58% 58% Briggs 49 48% 49 48% Budd Mfg . 7% 6% 7 6% Buck! Wheel . .. 9% 9% 9% 9% Eaton Mfg 27% 27% 27% 27% Elec Atuo Lite ..32 31% 31% 31 Elec Stor Bat . . 45% 45% 45% 45 Houdaille “B” . 22% 22 22% 21% Murray Bodv . 17% 17 17% 16% Stew Warner ... 15% 15% 15% 15% Timken Roll 59% 58% 59% 58% Timken Del Axle 8% B'4 8% 8% .Mining— Alaska Jun .... 15% 15% 15% 15% Am Metals ... 28 27% 27% 27% Am Smelt 51% 51 51% 50% Anaconda . . 22% 22% 22% 22% Cal & Hecla . .. 6% 6% 6% 6% Cerro De Pasco . 59% 59% 59% 58% Dome Mines . 39% 39% 39% 39 Granby 12% 12% 12% 12% Jins Copper .... 7‘s 7% 7% 7% Int Nickel 31% 31% 31% 31% Kennecott Cop . 26 25% 25% 25% I Mclntvre Mine . 37 37 37 37 | Park Utah . ... 4% 414 4% 4% ! Phelps Dodge ... 25% 25% 25% 25% | St Joe Lead . . 23 22 7 a 23 22% I Vanadium . . .. 16% 16% 16% 17 ! Amusements— Fox Theat 16% 16% 16% 1614 | Loews Inc *44% 44% 44% 43% I Radio Corp *7% 7% 7% 7% Paramount 10% 10% 10% 10% RKO ... 4% 4% 4% 4% Warner Bros ... 7% 7% 7% 7% Tobaccos— Am Tob “A” ... 98% 98% 98% 98 Am Tob "B" 100% 100% 100% 100 Ligg & Myers B 114% 114% 114% 114 Lorillard 24% 24% 24% 24% Reynolds Tob B 54% 54 54% 54% Kails— Atchison . . ... 46 45 46 44% Atl Coast Lines .22 21% 22 21% B O ... 14% 13% 14 15% I Can Pacific 9% 9% 9% 9% Ch & Ohio 44% 4418 44% 44% C M & St P 1% l'i 1% jl4 C M Sz St P pfd 1% 1% 1% 1% Chi N W 2% 2% 2% 2 Dela & Hud ... 32 32 32 31% Del Lac & W ... 14% 14% 14% 14 Erie 9% 9% 9% 9% Erie pfd 13 12% 12% 13 Grt North 24% 24% 24% 23% 111 Central 14% 14 14% 14% Lehigh Valiev ... 8% 8 8 8 Lou fc Nash .... 41% 41 % 41% 41 N Y Cent ...... 21% 21% 21% 21% ; Nor Pacific .... 15% 15 15 14% Penn R R 26% 25% 25% 25% Sou Pac 17% 16% 16% 16% Sou R R 8% 8% 8% 8% Union Pac 93 92% 02% 92% W Maryland ... 7% 7% 7% 7 Equipments— Am Brake Shoe. 31% 31 % 31% 31% Am Car & Fdv. 19% 19% 19% 18% Am Loco . ... 14% 14% 14% 14 Am Steel Fdv ... 15% 14% 15% 15% Bald Loco . 2% 2”, b 2% 2% Gen Am Tk Car 39% 38% 39 37% Gen Elec . 34% 33% 34 33% Gen R R Sig .. 31% 31% 31% 3 Pullman Inc ... 30% 30% 30% 31% Wo St Air Br .. 22 22 22 21% Westingh Elec... 77% 76% 77% 75% Utilities— Am & For Pwr.. 5% 5% 5% 5% Am Pwr & Lit. 6% 6% 6% 6% AT&T ...140% 139% 140 139% Am Wat Wks.... 16% 15% 16 15% Col Gas & Elec.. 13% 12% 13% 12% Comm & Sou . 1% 1% 1% 1% Consol Gas 29% 28% 29 28% Elec Pwr & Lit. 5 4% 5 4% Interboro RT.. 21 20% 21 20% Int T & T . . 9% 9% 9% 9% Nat Pw & Lit ... 9% 9% 9% 9 North Amer ... 20% 20% 20% 20% Pac G& E 27% 26% 27% 26% Peoples Gas ... 38 37% 38 37% Pub Serv N J ... 40% 39% 39% 39% So Cal Edison ..22% 22 22% 22' 4 Std Gas 3% 33% 3% Stone & Webster 7% 7% 7% 7% United Corp ... 4% 4% 4% 4% !Un Gas Imp 16 15% 16 15% West Un 50% 49% 50 49% Rubbers— Firestone 14% 14 14 14% i Goodrich 8% 8% 8% 8% ! Goodyear 17% 17 17 16% 'U S Rubber . . 13% 13% 13% 12% jU S Rubber pfd 35 34% 35 33% Miscellaneous— Allis Chalmers .29 28% 28% 28 Am Can 141 139% 141 139 lAm Mac & Fdv. 26% 26% 26% 26% Brklyn Man Tr. 43 43 43 ‘ 43% Burroughs Add . 19% 18% 19% 18% J I Case 83% 82% 83 81% Conti Can 87% 87 87 86%

Caterpillar Tract 51% 51% 51% 51% Curtis Pub 16 1 4 16 16% 16 Deere & Cos . . 41% 40% 41% 40% Eastman Kokak 154% 154% 154% 153% Foster Wheeler . 17% 17% 17% 17% Gillette 16% 16% 16% 16 Glioden 35% 35% 35% 23% Inter Harv 55% 54 1 2 55% 54% Natl Cash Reg .. 17 16% 17 16% Owens Bottle ... 99% 99 99% 98% Rem Rand . 13% 13% 13% 13% Worthing Pmp . 18% 18% 18% 18% Foods— Armour . 4 3% 3% 3% Armour 6% pfd 60 60 60 60 Borden Prod .. 23% 22% 23 23 Cal Packing . 34% 34% 34% 34% Can Dry G Ale . 9% 9% 9% 9% Cont Bak "A' .. 7% 7% 7% 7% Corn Prod 61% 61% 61% 61 1 2 Crm of Wheat 37% 37% 37% 37% Cuban Am Sugar 6% 6 6% 6 Gen Baking . ... 12 12 12 11% Gen Foods 33 32% 33 32% Gold Dust 15% 15% 15% 15% G W Sugar 28% 28% 28% 28% Natl B’scuit .... 31% 31 31% 31% Natl D Prod ... 17% 16% 17%' 17% Purity Bak 15% 15% 15% 15% Std L’.ands ... 13% 12% 13% 12% United Fruit 66 65% 66 65 Ward Bak B" l 3 * 1% 1% 1% Retail Stores— Asset Drv Giods 14% 14% 14% 14% Best &Cos ... 52% 52% 52% 51% First Natl St ... 46% 46% 46% 46 Gimbel Bros ... 5 4% 5 5 Allied Sts 6% 6% 6% 6% Jewel Tea 57 57 57 57'2 Kresge S S .... 25% 25% 25 7 2 25% Kroger Groc ... 27 1 2 27% 27 '2 27% Macy R H 47% 48 1 2 48% 48% McCrory St 12% 11% 12 11% McLellan St ... 14% 14'* 14% 14 Marshall Field . 10% 9% 10 3 2 9% May Dept St ... 51 3 2 51 3 2 51 3 2 51% Mont Ward ... 32% 32 32% 32 Nat! Tea 10% 10% 10% 10% Penney J C 81% 81% 81% 81% SafewaySSt 33 2 33% 33% 33% Sears Roeb . . . 57% 56 57 55% Woolworth 61 60 61 60 Aviation— Aviation Corp .. 3% 3% 3% 3% Boeing Aircft ... 16 15% 16 14% Curtiss Wright 32% 33 Curtiss Wr "A”. 8% 8% 8% 8% Douglas Air .. 31% 30% 313330 3 2 Nor Am Av 4% 4% 4' 4 4% Sperrv Corp 12% 12% 12% 12% Unit Aircft 19% 18% 18% 18% ChemicalsAllied Chem 167% 167% 167% 166% Am Com Alcohol 26% 26% 26% 25% Col Carbon . ... 85% 85% 85% 85% Com Solvents .. 18% 17% 17% 18% Du Pont 129'* 128% 128 1 2 127% Freeport Tex ... 24% 24'* 24% 24% Liquid Carb ... 31 30% 31 30% Math Alkali 31% 31 31% 30% Monsanto Chem 86% 85 86% 84’ * Natl Dis 29% 29% 29% 29% Scheniev Dist 43% 41% 42*'* 41% Tex Gulf Sulph 30*2 30% 30% 30% Union Carbide 67% 67 67% 66% U S Ind AICC . 44 44 44 44' 2 Drugs— Bristol Mvers ... 35 3 5 35 35' Cotv Inc ... 4% 1% 4 3 2 4% Lambert ... 22 22 22 21% Lehn <te Fink ... 10% 10% 10% 11 Sterling Prod . 64 % 64% 64 % 64% Un Drug .. 9% 9% 9% 9% Zonite Prod .... 5% 5 5% 5 Financial — Adams Exp 8% 7% 8% 7% Am Int Corp .. 8% 8 8 7% Lehman Corp . 91% 89% 81% 89% Transamerica 7% 7% 7% 7% Tr Conti Corp ... 6% 6 6% 6

(Building — Am Radiator ... 16% 15% 16% 16 Gen Asphalt .. 17% 17% 17% 17% ; Holland Furnace 18% 18% 18% 18 I Johns Manville 76% 75 76% 74% Libby Owens Gls 40 39% 39 s , 39% | Otis Kiev ... 19 19 19 18% U S Gypsum . . 72% 72 72% 71% Household— Col Pal Peet .. 16% 16% 10% 17 Congoieum . ... 36% 35% So 3 * 35 Kelvinator . . . 13% 13% .3% 13% i Mohawk Carpet 19% 19% 19% 19 Proc & Gamble 52 51% 52 51% I Servel Inc 10% 10% 10% 10% Textile*— Amer Woolen .. 9% 9% 9% 9 Belding Hem . . 13% 13% 13% 12% , Celanese Corp ... 27% 26% 27 26% ! Collins Aikman .. 34% 33% 34 32% Gotham Hose 7% 7% 7% 7% Indus Rayon .... 31% 31 % 3!’* 30% Kayser Julius . 23 23 23 23 N. Y. Bonds (Bv Abbott. Proctor & Paine) (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. Today . 89.7 77.9 100.6 89 4 Yesterday 89.6 78.4 100.6 89.6 Week ago 89.6 78.4 100.1 89.4 Month ago 89.4 81.2 101.6 90.7 1935 high 90.0 86 4 101.6 90.9' 1935 low . 83.6 71.0 89.3 83.0 'Copyright. 1935. bv Standard Statistics.) U. S. GOVERNMENT BONDS Libertys Prev. Close, close. 4%s 1933-38 100.10 100.14 Treasurys 4%S 1947-52 114.7 114.5 4s 1944-54 119.25 110 '%s 19-16-56 108.6 108 6 3%s 1940-43 106.13 106 10 3%s 1943-47 105.14 105.16 3%S 1943-45 ■ 104.6 104.13 3%s 1941 107 107.3 3%s 1944-46 104 104.6 3%s 1946-49 103 103 12 3%s 1949-52 102.22 103 3s 1954-55 102.14 102.16 3s 1946-48 101.25 102 2%s 1955-60 99.18 99 23 2%s 1945-47 100.5 100.5 Home Owners Loan Corp. 2%s 1949 98.29 99 4 3s 1952 100.5 100.4 Federal Farm Mortgage Corp. 3%s 1964 . . 102 102.6 3s 1949 100.16 100 20 2%s 1947 100.26 101 3s 1947 99.7 99 DOMESTIC Prev. Close, close. Alleg Corp 5s ’44 76% 77 Alleg Corp 5s '49 66% 67 Am Frgn Pow 5s 2030 69 70 Am Tel & Tel 5%s '43 113 112% Am Tel & Tel 5s ’65 113 113 Arm & Cos (Del) 4s 1955 94% 94% Atl Coast Line 4s '52 93 91% Atl Coast Line 4%s ’64 77% "8% Atch Top & S Fe 4%s ’4B ..107% 106% Am Wat Wks ss-'44 105% 105% Am Rolling Mills 4%s ’3C 112 111 3 ,* Balt & Ohio 5s ’95 71 72 Balt, & Ohio 4%s '6O 56 56% Buff Roch & Pitt 4%s ’57 61 61% Beth Steel 5s ’36 103 103 Chi Milw & St P 5s ’75 10% 10% Chi Milw & St, P 5s 2000 3% 3% Cleve Un Tterm 5s ’73 99% 99% Cleve Un Term 4%s ’77 91% 91% Col Gas 5s Mav '52 96% 95% C'ol Gas 5s April ’52 96% 96% Col Gas 5s ’6l 95% 95% Can Pac Perp 4s 83% 83 Cent Pac 5s ’6O 85 85% Big Four 4%s ’77 73 74 Big Four 5s ’63 . 79% 81% Colorado & So 4%s 'BO 49% 49% Chi & West Ind 4s '52 96% 97% Chi & West Ind 5%s ’62 105% 105% Chi & Nor West 4%s ’49 8% 8% Con Gas 5s ’57 105 105 Chesa Corp 5s ’47 104% 104% Del & Huds 4s ’43 78% 78% Erie 5s ’75 64% 65% Erie 5s ’67 64 65% Gen Cable 5%s ’47 98% 99 Grt Northern 7s ’36 99% 99% Grt Northern 4%s ’76 90 91 Grt Northern 4%s ’77 89% 89% Gen Stl Cast WW 5%s '49 81 81 Hud & Manhat Ref 5s ’57 83% 83% 111 Cent 4%s ’66 49 50% 111 Cent 5s ’63 60% 61% Interntl Hv Elec 6s '44 .... 43 42% Interntl Tel & Tel 4%s ’39 ... 76% 77 Interntl Tel & Tel 5s '55 ... 70 70% Interntl Tel & Tel 4%s ’52 ... 65% 66 McKess & Rob 5%s ’SO 101 101 Midvale Stl 5s '36 lOl'/z 101% Natl Dairy 5%s ’4B 104 103% Natl Steel 5s '56 104% 104% Nickel Plate 4%s ’7B 56 57 Nickel Plate 6s '35 . . 60 58% N Y Cent 5s 2013 70% 70% N Y Cent 4%s 2013 (old) ... 65% 65% Nor Amer Cos 5s ’6l 101% 101% Nor Pac 3s 2047 72% 72% Nor Pac 4%s 2047 . 81% 82 Nor Pac 6s 2047 96% 96% New Orleans Term 4s ’53 80 79 Otis Steel 6s ’4l 99% 101% Penn Rv 4%s 'B4 103 102% Penn Rv 4%s 'Bl 103% 103% Penn Rv 4%s ’7O 96% 96% Pac G & E ’42 105 104% Portland Gen El 4%s ’6O 72% 73'% Para Publix 5%s ’SO 96% 96% Penn P & L 4%s ’Bl 105% 104% Postal Tel 7 4 Cab 5s '53 30% 30% Rem Rand WW 5%s ’47 104 104 Shell Union Oil 5s '47 102% 102% Sou Pac 4%s ’6B 70 71% Sou Pac 4%s 'Bl 69% 69% Sou Pac 4%s '69 70 70 Sou Pac 4s '49 76% 77% Sou Rail 4s ’54 39 38% Sou Rail 6s '56 51% 51% Sou Rail 6Vis '56 .... 53% 53% Sharon Stl Hoop 5%s ’4B ... 99% 99% Texas Pac 5s ’BO 91% 91% Texas Pac 5s ’79 91 % 92 Texas Pac 5s ’77 91% 93 Union Pac 4s ’47 111% 111% United Drug 5s ’53 90 90 U S Rubber 5s ’47 97% 97% NY NH & Hart 6s ’4B 31% 31% NY NH & Hart. 4%s ’67 28% 29% Warner Bros 6s '39 82 81% Western Mary 5%s 'll ...... 105 105 Western Marv 4s '52 96% 96% Youngstown S & T 5s ’7O .... 99 99 Youngstown S & T 5s ’7B 99 99 FOREIGN Argentina A6s ’57 95% 95% Argentine B 6s 'SB 95% S5 Brazil 8s '4l 27% 27% Canadian Govt 4s '6O 102 102 Denmark 5%s ’55 96% 96% German 5%s ’65 27% 27% German 7s '49 37% 37 Italy 7s 'sl 56% 56% Japan 6%s ’54 97% 97% Poland 7s ’47 104 104 Rome 6%s '52 48% 48 Tokio City 5%s '6l 78% 78% Tokio City 5%s '6l 78% 78% Yokohama 6s '6l 82% 83% Chicago Stocks (By Abbott. Proctor & Paine) 11:30 Prev. A. M. close. j Bendix 22% 21% I Borg Warner 58 57% Butler Bros 6% 6% | Central Southwest 11% 1% i Chicago Corp 32% Chicago Corp pfd 40% 40 Crane 15% 15% 1 Com & Edison 88 88% ' Elec Household n% 17% [ Grt Lakes Dredge . 2% 22% Marshall Fields 10% 9% ; Noblitt Sparks 26% 26% I Prima 2 2 i Swift 16 16 Zenith 7% 7 Berghoff 4% 4'% New York Curb (By Abbott, Proctor & Paine) 12 (Noon) Prev. N. Y. close. Allied Mills 17 17 Alum Cos of Am 75 73 lAm Cyanide "B” 24% 24 i Am Superpower 1% 1% Atlas Corp 11 10% Carrier Corp 10 9% ; Deere &Cos 40% 40% (Distillers Corn 26 25% |EI Bond & Share 12 % 12 ! Fisk Rubber 5% 5 ; Ford of Can “A” 24% 24% 1 Ford of Europe 8% 8 Gulf Oil of Pa 63% 62 Hiram Walker 23% 23% Humble Oil 19% 19% Lake Shore Min 46 46% Long Island Lighting 4% 4% Natl Bellas Hess 1% 1% Newmont Min 60 59% Nia Hud Pwr 8% 8 Nevadel Agene 31 30 P?nn Road 2% 2% Sonetone 20 s , 20% IStof Kv 20% 20% ; Wright Hargraves Min 7 s * 7% STOCK SPLIT-UP NEAR Directors of Holly Sugar Corp. Favor 5-for-l Division. By Times Special DENVER. Oct. 10. —Directors of the Holly Sugar Corp., the second largest sugar beet company in the United States, have voted for a five-for-one split-up of the common stock. Wiley Blair Jr., president, announced today. In addition, the board authorized an increase in the common stock of 400.000 shares, and favored listing of the new shares on the New York Stock Exchange. The' company will apply for a listing on the New York exchange, it was said.

HOG PRICES DIP 5 TOIO CENTS AT CITY YARDS Cattle, Veals Unchanged; Lambs Again Move Higher. Porker prices were 5 to 10 cents lower at the Indianapolis Union Stockyards today as a result of a weak demand and increased receipts. Receipts were estimated at 4000, against 3000 yesterday. Buying was insufficient and approximately 192 hogs were held over. The general bulk of 160 to 275 pounds brought $11.20 to $11.30. while heavy butchers, scaling 275 pounds and upward, sold at $10.85 to $11.15. In the lightweight division, hogs weighing 130 to 160 pounds cashed in at $10.40 to $10.90. Light slaughter pigs, ranging from 100 to 130 pour.ds, held at $9.65 to $10.15. Packing sows were offered at $9.75 to $lO 50. Slaughter steers were scarce in the cattle market and trading was light and prices stationary. Three loads of steers were valued to sell at $11.35. Other classes, consisting largely of low grade she stock, showed slight improvement in prices. The bulk of good grade heifers was salable under $8.50. other kinds selling from $4.50 to 6.50 were extremely active. Beef cows brought $4.50 to $6, while bulls sold at $6 down. Receipts were 800. Vealers. after advancing sharply in the previous session, settled down to a steady trading range. The bulk of good and choice grades sold at $11.50 to sl2. Receipts numbered 700. With the fall demand broadening, lamb values again showed improvement, marking the third consecutive session in which prices advanced. The market today was steady to generally 25 cents higher. Bulk of better grade ewe and wether classes sold at $9.25 to $10.25. Bucks again were discounted from 50 cents to sl. Slaughter sheep brought $2 to $4. Receipts were 300. HOGS Oct. Bulk. Top. Receipts. 4 $11,104/11.15 $11.20 2000 5. [email protected] 11.20 1000 7. [email protected] 11.30 3000 8. [email protected] 11.30 3500 9. [email protected] 11.40 3000 10. [email protected] 11.30 4000 Light Lights. (140-160) Good and choice.. [email protected] Medium 9.90® 10.90 Lightweights. G6O-180) Good and choice.. [email protected] Medium [email protected] (180-200) Good and choice... 11.20©11.30 Medium [email protected] Medium weights. (200-220) Good and choice.. 11.25@ 11.30 1220-250) Good and choice.. 11.25 011.30 Heavyweights. 1250-290) Good and choice . [email protected] '290-3501 Good and choice . 10.85® 11.15 Packing sows. (275-350) Good 10.15010.50 (350-425) Good [email protected] (425-450) Good [email protected] (275-315) Medium [email protected] Slaughter pigs. (100-140) Good and choice . . [email protected] Medium [email protected] CATTLE —Receipts, 800— (500-900) Choice $10.50 011.50 Medium 7.00@ 9.00 Common 5.00@ 7.00 (900-1100) Choice 9.25@>11.50 Good [email protected] Medium 7.250 9.25 Common 5.250 7.25 (1100-1300) Choice [email protected] pood 9.50011.75 Medium 7.250 9.50 (1300-1500) Choice [email protected] Good [email protected] Heifers (500-750) Choice 9.25010.25 Good 8.000 9.25 Common and medium 4.000 8.00 (750-900) Good and choice ... 8.25010.50 Common and medium 4.25® 8.25 Cows Good 5.250 6.25 Common and medium 4 250 5 25 Low cutter and cutters 2.750 4 25 Bulls good 5.50@ 6.25 Cutter, com. and med. bulls... 4.00® 5.50 VEALERS —Receipts, 700— Good and choice $11.00012.00 Medium ... [email protected] Cull and common 6.50@ 9.00 Calves (250-500) Good and choice 7.000 9,50 Common and medium 4.00® 7.00 —Feeder and Stocker Cattle—-(soo-800) Good and choice .... 6.750 8.75 Common and medium 4.500 6.75 (800-1050) Good and choice ... 7.000 8.75 Common and medium 4.50® 7.00 Good 4.000 4.75 Common and medium 3.50® 4.00 SHEEP AND LAMBS —Receipts, 300— Lambs. 90 lbs. down, good and choice [email protected] Medium 7.50@ 9.25 Ewes '9O-125) Good and Choice ... 3.00 0 4.00 All weights, common and medium 2.500 3.50 (120-150) Good and choice.. 2,00® 3.00 Other Livestock (By United Press) CHICAGO. Oct. 10.—Hogs—Receipts, 12,000, including 4500 directs; slow. 10 to 25c lower than Wednesday's average; top, $11.25; bulk 180 to 250 lbs., $10.85011.10; 260 to 320 lbs.. $10,504/10.90; good and choice 140 to 160 lbs.. $10.25010.75; most sows $9.3509.75. Cattle—Receipts, 7000; calves. 1000; fed steers and yearlings strong to a shade higher; fairly active, practically everything sold on early rounds; best heavy steers $13.10; yearlings $12.50; bulk better gradese, $11,500.12.50: steers selling at $10.50 down to $8 and below on killer account getting much better action at sharply higher prices than early in week; stocker supply well cleaned up for week; mostly 25c higher; instances 50c up; all she stock about steady; bulls fully steady and vealers 25c up. Sheep—Receipts. 12.000; little done; indications around 25c lower on fat lambs; sheep steady, feeding lambs scarce, firm; early bids downward from $9.75 on good to choice lambs; best held at $lO and above; slaughter ewes eligible at [email protected]. LAFAYETTE, Oct. 10.—Market steady to 20c lower: 200 to 250 lbs.. $11.05; 250 to 275 lbs.. $11.00: 275 to 325 lbs.. $10.30® 10.90; 150 to 200 lbs.. $lO 90® 11: 140 to 160 lbs. $10.45010.65; 100 to 140 lbs.. $9.50® 10.25; roughs. $lO down. Calves—Top, $10.50. Lambs, steady at $9. FT. WAYNE. Oct. 10—Hogs—15c to 20c lower; 225-250 lbs.. $11: 250-275 lbs., $10.90: 275-300 lbs., $lO 80: 200-225 lbs.. $10.90; 180-200 lbs., $10.85; 160-180 lbs., $10.70; 300-350 lbs.. $10.65; 150-160 lbs., $10.60; 140-150 ibs.. 510.45; 130-140 lbs., $10.10; 120-130 Ibs.. $9.85; 110-120 lbs., $9.60: 100110 lbs., $9.25; roughs. $9.50; stags. $8; calves. $11; lambs. 59.25. (Bv Times Special) LOUISVILLE. Oct. 10. —Cattle—Receipts, 550; demand fairly broad for all slaughter cattle: market opening moderately active fully steady to strong at week's levei- bulk common to medium grade grass steers and heifers, 54.75® 6.75; better finished grassers quotable. s7@ 8. with good grain on grass steers and heifers and desirable babv beef type yearlings quotable somewhat higher; bulk beef cows. $4 ./5; practical top 55.50: low cutters and cutters mostlv $2.75 '7 3.75: light shelly low cutters down $2.50 or less: most sausage bulls. $3 754/5; stocker and feeder trade slow, mostly steady; better type stockers and stock calves, mostly $6.500 8 50. Calves—Receipts. 526. including 250 stock calves; market fully 50c higher; bulk good to choice vealers. $9 500 10.50: medium and lower grades, including most heavy grass calves. $8.50 down to $4.50. Hogs—Receipts. 600 market 10c lower: top and bulk better. 180-240 lbs.. $11; 245-295 lbs. $10.50: 300 Ibs. up. $10.10: 160-175 lbs. $10,40: 140-155 lbs.. 59.55: 120-135 lbs.. $8 60 sows. $8 65 Sheep—Receipts. 300; demand dependable for all classes slaughter sheep and lambs: market, steady; better lambs. $8 to mostlv $8 50: choice Quotable to around S9 plainer grade lambs, including bucks. *5.500 7 50: light culls down to arovud $4: most fat ewes. $3 down; bettre stork ewes. $7 50@9 a head, plainer and older ewes down to $5.50.

U.S. Trade Held Immune to A lien Wa r Infl lienee, Due to Altered Status Economist Cites Difference in Conditions Now as Compared With 1914: Outbreak in Europe Would Be Different. BY A. L. JACKSON Editor, Economic Statistics. Inc. NEW YORK. Oct. 10.—The reaction which took place in general business activity in 1914. following the declaration of war in Europe, is still remembered by a large majority of the people. It is due to this memory that the war scare and the actual advances made by Italy in Ethiopia have had their psychological effect upon the commodity and securities markets during the last few weeks. Will there be a general reaction in business as a result of the current conflict in foreign countries?"

It is well that we review conditions as they were in 1914 and the conditions which exist at present in order to get a clear view as to what might be expected to happen in this country under present war conditions. First, we are today a creditor nation, whereas in 1914 we were largely a debtor nation. We had few investments abroad at that I time, whereas we have many now. The nations involved in the conflict in 1914 were important creditor nations at that time and had large funds invested in this country, the withdrawal of which detracted much capital necessary for business in this country at the time. Foreign Balances Small Today the warring nations have relatively small amounts invested in this country, so small, in fact, that it may be considered nil. The withdrawal of these funds would not throw the financial and credit markets of this country into a panic. The second important factor is the status of our foreign trade. In 1914 we were dependent to a large extent upon our exports of raw materials such as wheat and cotton. Foreign trade at that time was a much larger proportion of our total national business than it is at the present time. Asa result of the depression in recent years our foreign trade has fallen to a very small proportion of our total business. The recovery which we have had during the past two years has been based almost entirely upon domestic activity. Our foreign trade has remained more or less dormant. Os the total foreign trade that is carried on today, compared with that of 1914, finished products comprise a comparatively larger proportion of I the total and our exports of raw materials have declined relative to the total. Capital Plentiful Third, the capital available in this country for investments is unusually large at the present time. Thus it seems that the amount of money that will be brought into this country in the form of gold imports, due to the unstable conditions abroad, will not have any material effect upon conditions. It will simply mean a further building up of excess reserves, where they are already so high that it is difficult to find investment for them. In view of the favorable supplydemand conditions of our industry today, it seems that the additional stimulus that might be afforded by increased exports of such raw materials as cotton may benefit business activity in this country to some extent. As the demand for cotton increases the price will increase and the income received by the cotton farmer will be improved. This will naturally have a bene* ficial effect upon the demand for manufactured goods, and thus our business, which is today mostly domestic in nature, will continue upward. This will be true as long as the conflict remains a localized affair concerning only Italy and Ethiopia. Should it involve the more important nations of Great Britain, Germany and France business activity in this country would be adversely affected. WHEAT MOVES UP IN INITIAL TRADING War Rumors, Alien Strength Prompt Upturn. By United Press CHICAGO, Oct. 10.—War rumors and unexpected firmness at Liverpool lifted wheat futures on the Board of Trade today. At the start wheat was % to 1% cent higher, corn was up % to % cent, oats ware up Vs cent, and rye was % to 1 cent higher. (By James E. Bennett & Cos.) 11:30 Prev. Wheat— High. Low. A. M. close. Dec 1.06% 1.05% 1.06 1.04% Mav 1.05 1.04 1.04% 1.03 July 94 .93 .93% .92% Corn— Dec 02% .61% .61% .61% May 60% .60 .60% .59-% July 61% .60% .61% .60% Oats— Dec 29 .28% .28% .28% May 29% .29% .29% .29% July 29V, .29% .29% .29% Rye— Dec 54% .54 .54% .53% May 56% .56 .56% .55% July 56 .55% .56 .54% Produce Markets The prices quoted below are paid for stock gathered in the country, while delivered in Indianapolis the price will be a cent higher; Heavy breed hens, 16c; Leghorn breed hens, i3c; springers, over 4% lbs.. 15c; under 4% lbs.. 16c; old cocks, 8c; Leghorn broilers, 1% lbs. and up 12c; bareback broilers, 10c; ducks, full feathered and fat, 4c; geese, full feathered and fat, 3c: guineas. 15c each. No. 1 strictly fresh egges, loss off. 24c. Each full case must weigh 55 lbs. gross, a deduction of 10c a pound under 55 lbs. will be made. Butter. No. 1. 30@31c; butterfat, No. 1, 23c; No. 2,22 c. Quoted by the Wadiey Cos. (By United Press) CHICAGO. Oct. 10. —Eggs—Market, easy; receipts 6383 cases; fresh graded firsts, 27c: current receipts. 24@25%c: diries. 20 4/24c; checks, 180 21%c. Butter—Market firm; receipts. 10,522 tubs: extra firsts (9091% score'. 25%0 26c; extras '92 score 26%c; firsts 'BB-89% score', 25®25%c seconds <36-87% scorei. 24c; specials, 27 @27%c; standards. 26' zc. Poultry—Market steady to firm; receipts, one car due; ducks. 14@17c; ducklings. 19c: geese. 15c; spring chickens. 16® 19c; hens, 14@22c; turkeys. 14@20c; Leghorn hens, ll@14c; old roosters. 15c; broilers. 20c. Cheese — Twins. 15%®15%c; daisies, 15%@i6c; Longhorns. 15% @ 16c Potatoes—Supply heavy, demand slow; market firm on northern whites; dull on other stock: Idaho Russets. $13501.15; Bliss Triumphs. $150: Wisconsin Round Whites. 80® 85c; cobblers. 85c: Bliss Triumphs. 82%c; South Dakota Cobblers. 80c: North Dakota Cobblers, 85® 90c: commercials, 82%c; Red River Ohios, 87%@ 90c; Bliss Triumphs. 92%c; Minnesota Cobblers. 85c; Colorado McClures. $1.1001.20. Arrivals 177; on track 474; shipments 776.

Moves Into Second Place The National City Bank of Xew York by virtue of a $197,586,753 increase in resources during the third quarter displaced the Guaranty Trust Cos. as the second largest bank in the country. The Chase National Bank continued in first place.

Busigraphs ELECTRIC POWER PRODUCED (u. S. DEPT. OP THE IMTEPIOP.) - H * % y t" / I < i </ V/ S/ '/ / D 01 " 1^17 I,NE ls THE PAST Z/ o y. yf /y y /. ten tears average of/v - V V//; V/ T,F SAME MONTHS ’. 'g S DJ fMAMJJAS 1934 (935 the PAQKES CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS Electric power output in the first nine months of this year was up 7 per cent over the same 1934 period. Prices of most household electrical equipment have declined. This naturally stimulates purchases of equipment and that helps increase the use of electricity. CURRIERS' LOSS RISES 100 P. C, July Figure of $15,999,836 Compares With $6,734,635 Year Ago. By United Press WASHINGTON, Oct. 10. July net operating income of 149 steam railways was $26,351,537, a decided drop from the $34,441,263 income for July last year, the Interstate Commerce Commission announced today. The same ratio of decrease was maintained in comparative figures for the first seven months of each year. Deduction of fixed charges leaves the railroads showing a July deficit more than twice that of last year. The figures are: July, 1935, $15,999.836; July. 1934, $6,734,635. The deficit for the first seven months of 1935 was $78,025,038, compared with $29,897,250 for the same period in 1934. Dividend appropriations for July were less than one half those of last year on common stock, $1,190,000 compared with $2,893,144. Preferred stock dividends improved from a total of $509,835 last year to $929,160 this year. For the seven month period, both common and preferred dividends declined. The funded debt maturing within six months increased two-fold from $73,021,677 in July, 1934, to $187,263.364 in July, this year. The carriers’ investment decreased slightly from $760,364,954 to $738,718,064. Revenues from both passenger and freight traffic dropped during the year. The total returns from freight in July, 1934, were $221,000,069 and in July, 1935, $220,317,764. Passenger traffic yielded $32,103,428 in July last year and dropped to $31,487,162 in the current July, de- j spite heroic efforts to maintain j these revenues by reduced general! rates and special excursion fares. KERN WRITES FORD Pledges Co-operation if Company Locates Plant Here. Mayor Kern today wrote the Ford Motor Cos. that the City of Indian- 1 apolis will co-operate in every way i if the company locates an assembly I plant here. Myron R. Green, industrial com- j mission director of the Indianapolis Chamber of Commerce, has discussed with Ford officials the prospect of resumption of manufacturing activities here. LOCAL CASH MARKET City grains elevators are paying 98c for No. 2 soft wheat. Other grades on their merits. Cash corn No. 2 yellow 79 cents and oats 21 cents.

[—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

Thomson & McKinnon MEMBERS NEW YORK x e w York Stock Exchange CHICAGO I New York Curb Exchange TORONTO I New York Cotton Exchange RO'nTOX * ew York Coffee and Sugar Exchange FIFTH* RPvn m New ° rlean9 Cotton E * chan K 9 BUD 111 EEif\U • Chicago Stock Exchange FT. WAYNE i| Chicago Board of Trade EVANSVILLE I Winnipeg Grain Exchange ( Indianapolis Office And other ledln g Exchange* 200-214 Circle Tower LI. 5501

LIVING COSTS AGAIN RECORD GAIN IN MONTH Wage-Earners Index in September 16.8 Per Cent Above 1933 Low. B]t Timr* Sprriql NEW YORK. Oct. 10. Living costs of wage-earners in the United States registered an increase of 0 6 per cent from August to September, the National Industrial Conference Board declared today in its monthly compilation. Although 17 2 per cent under the figure of September. 1929. the index was 3.1 per cent ahead of September, 1934 and 16 8 per cent above the low of April, ! 1933. Leading the parade was food prices which rose 1.3 per cent :n the month. In September they were 6.1 per cent higher than in the same month last year and 37 per cent greater than in April, 1933. although still 23 per cent under the September, 1929. level. Rents continued their upward trend, advancing 8 per cent from August to September. This rise made them 9.2 per cent higher than in September, 1934. and 15 per cent higher than at the beginning of 1934. when their low point was reached, but still 21.9 per cent lower than in September. 1929. Clothing prices increased slightly. 1 per cent from August to September. the first advance since a year ago. Since the low point of i933, clothing prices have advanced 22.4 per cent. Since September. 1934, however, there has been a reduction in clothing prices of 4.3 per cent and since September, 1929, a decline of 24.6 per cent. Coal prices advanced 1.2 per cent from August to September, slightly less than seasonally. They were 3.3 per cent lower than in September, 1934. and 9.3 .per cent lower than in September, 1929. The cost of sundries remained ■ the same in September as in August, but it was 8 per cent higher than in September, 1934, and 4.3 per cent higher than in April, 1933. Since September, 1929, the reduction in sundries amounts to only 5.3 per cent. The purchasing value of the dollar was 119.8 cents in September, 1935, compared with 120.5 cents in August, 1935, 123.5 cents in September. 1934, and 100 cents in 1923.

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