Indianapolis Times, Volume 47, Number 207, Indianapolis, Marion County, 7 November 1935 — Page 16

Trends Country Faces Business War on Dole. BY JOHN T. FLYNN NEW YORK, Nov. 7.—lt is impossible to watch the course of organized business in its war on government expenditures without a feeling that it is as much at sea as it accuses the Administration of bring. Also it is perfectly obvious that the country now faces a determined, a relentless war on the Dole. And

that war is bofhg waged by interests which apparently have no program, no philosophy even, for dealing with the ap pa 11 in g and, apparently, still unyielding problem of unemployment. P’or some months an energetic drive has been in process

John Flynn

of organization against further Fed.-ral expenditures for relief. Relief, we have been told, is the business of the states and local governments. Each community should look out for its own casuals of the depression. This movement is most powerful in the East where business feels that it is being made to pay the cost of supporting unemployed persons in the South and West. However, when the effort is made to have the states assume their burden of relief, you find the same business interests, who said it was the duty of the state, bitterly fight state grants. In New York State, where the denunciation of Federal relief has been the loudest, the Chamber of Commerce issued and appeal to the voters to defeat a state bond issue of $55,000,000 for financing relief expenditures in the state. a a a WHEN the State undertakes to assume a small part of the relief burden, organized business cries out that this is wrong, that the burden belongs to the local communities —the towns and the cities. Furthermore they insist that relief should be financed out of taxes, not out of bond issues. This, I believe, is a sound position. However, when the subject of city appropriations for relief came up—not relief for all the idle, but just a small percentage of the whole relief bill, the same business interests denounce city extravagance and fight the grants. Also, when the suggestion is made that taxes be increased for relief purposes always, everywhere, organized business descends on Mayor and aldermen and protests bitterly against tax increases. tt tt tt THE truth of the matter is that business is showing itself utterly without vision; trying to shut its eyes to the staggering relief problem. Those who view the problem realistically believe that relief Should be financed out of taxes and further borrowing should be stopped. If it is financed out of taxes and the cities do the job, the taxes must be loaded on home owners through increased realty taxes and on consumers through sales taxes. Further realty taxes will help to kill any attempt to revive the building industry which is the only hope of recovery. Further sales taxes will be a burden on those least able to pay and will tend to curtail purchasing power and hence sales. The only agency which has the power to reach tax sources without crushing further the little man is the Federal government through a scientific, graduated income tax. (Copyright, 1935, NBA Service. Inc.) RENEWS OFFER OF LOAN TO MILWAUKEE LINE RFC Indicates $24,000,000 Available for Working Capital. Timea Special WASHINGTON. ' Nov. 7.—A renewal of its offer to loan $24,000,000 to the Chicago, Milwaukee, St. Paul & Pacific Railroad will be made by the Reconstruction Finance Corp.. it was indicated here by Jesse H. Jones, chairman. The money is to be used for working capital if reorganization proceedings are delayed until spring. After a conference with representatives of holders of C„ M. Sc St. P. obligations Mr. Jones said he saw no objection to delaying reorganization action until that time. PREMIER TO RESIGN Timex Special TORONTO. Nov. 7. Premier Mitchell F. Hepburn announced today that he would resign after the 1936 session of the Ontario Legislature. He gave ill health as his reason. On Commission Row Quotations below subject to change are average wholesale prices being ofTered to buyers by local commission dealers: Fruit—Cranberries, early blacks. 25-lb. box. $3 90 Pears—Michigan Bartlett®, bushel, *2 25; Avocados. Florida, box $2 25. Cantaloupe— California Honey Dews, $2 50; Casabas $2 25; Persians, $2.50. Bananas —7 hands, a pound, 5%c. Grapes—Michisan,5 an, 12-ot. basket, 35c. Persimmons—lniana. 12-pt. case, sl. Apples—lndiana Jonathans. $1.1501.25 Summer Rambos, $1: Delicious. $1.25fi'1.50. Wealthys, *1; Grimes Golden $1.15. Lemons-—Sunkist, 3605. $7.50. Grapefruit Texas. 64s to 70s. $3 50. Limes—Mexican a carton 12s, 20c; Persian seedless a hundred, $3. Vegetables—Beans, green, round stringless bu., $2.50. Beets—Homs grown, do*., 20c. Cabbage—New York. 50-lb. bag. 75c. Carrots—Home grown and Ohio, 35c; new bulk, half bu., 60c. Cauliower—New York, crate, $1 50: Long Island, large crate. $lB5. Celery—Michigan, washed and trimmed, extra large, 85c; jumbo, doz., 4Se Cucumbers—Hothouse. 2 doz. box. $2.35. Kale—Home grown, bu.. 50c. Lettuce —lceberg. California, best. $4.50: home grown leaf. 15-lb. basket. sl.lO. Endive— Ohio, basket. 45c. Mangoes—California grown, craie, $3 25: small basket. 40c Mint —Doz., 50c. Mustard—Home grown, bu., 50c. Onions—lndiana yellow, 50-!b. bag. 90c: Indiana white 50-lb. bag. $1: Western Spanish, 50-lb. bag. $1.40. Parsley—Home grown, dor. Ssc. Peas—Telephone, hampers, $3. Potatoes—Round Cobblers. 100lb. bag. $1 50; Michigan Round W r hite. 100lb bag. $1 30. Early Ohios. bu . $1 45; Idaho Russets, $2 10. Sweet potatoes—lndiana. Jerseys, bus.. $1.50 Radishes—Ohio, buttons, dor. baskets. 45c. Sage—Doz., 45c. Bpinach—New Zealand, bu.. 65c. Btjuash —Bu.. $1.15 91.25 Turnips—New bu . 90c: bunch, dor. 25c. Tomatoes— California, repacked. 10-lb. carton. $1.15. Produce Markets The prices quoted beiow sre paid for stock gathered in the country, while delivered in Indianapolis the price will be 1 cent higher: Heavy breed hens, 17c; Leghorn br'ed hens, l2c, springers, over 4% lbs. 17c: under 4% lbs., 18c: oid cocks 9; Leghorn broilers 1% lbs. and up, 12c; Legnorn springers. 12c: ducks, white, 4 .be. and up. 8c; geese, full feathered and tat. 4c; old guineas. 15c; voung guineas, 1% lbs. up. 2Sc; No. 1 strlotiy ;*!*■ IoM of 29e; pullet eggs. 18c. Each full case muss weigh 55 lbs. gross, a deduction of 10c a pound under 55 lbs. will >* made Butter. No. 1, SJ%®3J'e: Mo. 2. M'.sfeJllxc, buutxfat, 28c. Quoted

PAGE 16

SIX-HOUR DAY ' THOUGHT ONLY JOB SOLUTION i Plan for Raised Wages and Shorter Work Period Is Advocated. Timex Special BATTLE CREEK, Mich., Nov. 7. The six-hour day with wages raised j to compensate for the shorter work-1 ing period is the only solution for | the unemployment problem, W. K. Kellogg, cereal manufacturer, r.s- j serted today in announcing the j highest wage scale in the history of I the Kellogg Cos. The new scale results from an; average increase of 12.5 per cent, i which applies to all male factory workers and which will be retroactive to Oct. 28. Under it the minimum wage, paid janitors and other unskilled workers, is increased from $4 to $4.50 for a six-hour day, the highest in the company’s history. Wages in the higher brackets, which include most of the company’s men employes, are increased in proportion. Wages of women employes were raised two years ago so that their earnings for six hours’ work equal those previously paid for eight hours. AGAINST UNLIMITED POWER, VOTE SHOWS Board of Trade Ballots on Chamber Referendum. Forty members of the governing board of the Board of Trade cast their vote against unlimited Federal powers and activities in business at a recent meeting when they voted on Referendum 69 of the Chamber of Commerce of the United States. This referendum is on the report of the special committee on trends in Federal legislation and is limited to members of the national Chamber. Its purpose is to ascertain the opinion of the commercial organizations of the country. Tabulation of the national vote will be after Nov. 23, 1935, when all ballots are supposed to be in. The questions concerned and the action of the board are as follows: 1. Should there be extension of Federal jurisdiction into matters of state and local concern? Vote—Opposed. 2. Should the Federal government at the present time exercise Federal spending power without relation to revenues? Vote—Opposed. 3. Should there be government competition with private enterprise : —for regulatory or other purposes? Vote—Opposed. 4. Should all grants of authority by Congress to the executive department of the Federal government be within clearly defined limits? Vote—ln favor. FLETCHER BANK CALLS 5 PER CENT BONDS Directors to Retire $252,500 in Refunding Program. Directors of the Fletcher Joint Stock Land Bank have called for retirement, $252,500 of 5 per cent bonds due Nov. 1, 1952, and May 1, 1953, according to an announcement made today by William B. Schiltges, vice president of the company. Refunding of $3,739,500 in 5 per cent and 5% per cent bonds of the Joint Stock Land Bank into loweryield issues has been accomplished during the current year, it was reported. The new call for the issues is payable May 1, 1935. Holders of the bonds issued Nov. 1. 1922, and May 1, 1923, maturing Nov. 1, 1952 and 1953, but callable Nov. 1, 1932, and May 1, 1933, or any interest paying period thereafter, will be given the privileges of ex-, changing their issues for anew series of bonds, H. F. Clippinger, vice president of the Fletcher Trust Cos., announced. Interest on the new issues will be fixed as of May 1, 1936. GLASS SALES INCREASE Pittsburgh Plate Cos. Reports Gain of 50 Per Cent in Business. Timex Special NEW YORK. Nov. 7.—The Pittsburgh Plate Glass Cos. during the initial 10 months this year showed an increase of approximately 50 per cent in business compared with the same period in the preceding year, H. S. Wherrett, president, announced today. The marked improvement is chiefly due to the sharp increase in the use of safety glass in automobiles, it was stated. With laws requiring the use of safety glass in passenger cars going into effect in 10 additional states Jan. 1 the company is looking forward to a sharp increase in sales. JOINS T. P. BURKE & CO. John A. Slattery has joined the research department of T. P. Burke & Cos.. Inc., according to an announcement made today by T. P. Burke, president. Mr. Slattery, an Indianapolis resident, attended Notre Dame as a member of the college of commerce. INSURANCE SALES UP The Jones Agency of the Connecticut Mutual Life Insurance Cos. has written 59 per cent more life insurance and annuities for the first nine months of this year than in the corresponding period of last year, it was announced yesterday. MAYORS TO SPEAK Mayor Clare W. Bangs. Huntington, and Mayor Joseph M. Waltermann, Richmond, will speak tomorrow night at the Claypool on municipal ownership of utilities. The meeting will start at 8 and is open to the public. SULLIVAN IS ELECTED. Reginald H. Sullivan, former Indianapolis mayor, was elected yesterday to the board of directors of the Union Trust Cos. by board members. it was announced \today by Arthur f. Brown,

Abreast of The Times on Finance

New York Stock Exchange Prices

Bff T'nitcd Press N£W YORK, Nov. 7.—The stock market readily absorbed profittaking today—after the sharply higher 3,000,000 share day yesterday and moved irregularly higher in trading that in the first hour was a: a four million share pace. General Motors held its new 1935 high at 58’2 and then slipped to a fractional loss. Other new 1935 highs included General Electric 37%, General Asphalt at 20%, Johns Manville at 94. Loew's at 50% , Mid Continent Petroleum at 16%, National Cash Register at 21, Philip Morris at 63%, Western Union at 65%, Youngstown Sheet and Tube at 34%. All eased from these highs, some to fractional losses, but the trend continued irregularly higher. Outstanding changes included Uoca Cola at a record high of 290, up 10. Dupont, one of yesterday’s active performers, dropped 2 points to 139%. Silver shares weakened, American Smelting losing 1% to 58%, Cerro De Pasco 1% to 59%, and U. S. Smelting 1% to 96%. Pullman was 1% lower at 34%. Rails and utilities were mixed. (By Thomson & McKinnon) 11:15 A M. Prev. Oils— High. Lot.’. N. Y. Close. Amerada 77'8 76 78 77 Atl Rfa 24% 24% 24% 24% Barnsdall 12 11 % 11% 11% Consol Oil 9% 9% 9% 9% Cont of Del ■ ... 25% 25% 25’g 25% Houston (new),. 4% 4% . 4% Mid Cont Pet ... 16% 16% 16% 16*2 Ohio Oil 12 11% 11% 11% Pet Corp 11% 11 % 11% 11% Phillips Pet .... 37% 37% 37% 37% Plymouth Oil ... 12 11% 12 12% Seaboard Oil ... 33% 32% 32% 32% Shell Un 13 12% 12% 13 Skelley Oil 16% 16% 16% 16% Sac Vac 12% 12V* 12% 13V8 SO of Cal 38% 38% 38% 38% SO of Ind 28% 28 28% 28% SOof N J 49% 49Vs 49% 49% Texas Corp 23% 23% 23% 23 Tidewater Assn.. 12'% 11% 12 11% Un Oil of Cal .. 20% 20% 20% 20% Steels — Am Roll Mills .. 30% 30 30 30% Beth Steel 44% 43% 43% 43% Bvers A M 19% 19 Vs 19% 19% Col Fuel & Iron. 3% 3% 3% 3% Cruc Steel 27% 27 27 27 inland Steel 99% 99% 99% 99% Ludlum Steel •. 27% 27% 27% 25% McKeesport Tin 125 125 125 125 Mid Steel 23% 23% 23% 23/2 Natl Steel 77% 76% 77 76% Otis Steel 16% 16% 16% 10% Rep Iron &• Steel 19% 18% 18% 19 Rep Ir & St pfd 91 91 91 88% U S Pipe & Fay. 20% 20% 20% 20% U S Steel 48% 47 3 4 47% 48 U S Steel pfd .. 109% 109% 109% 109% Warren Bros ... 4 4 4 4 Youngst’n S& T. 34% 33% 33% 33% Motors— Auburn 38 37 37 38% Chrysler 87% 85% 87 85% Oen Motors ... 58% 58% 58% 58% Graham Mot ... 3% 3% 3% 3% Hudson 16% 15% 15% 16% Hupp 33 32% Mack Truck .... 22% 21% 21% 21% Nash 18% 17% 18% 17*a Packard 6% 6% 6% 6% Reo . 4 4 4 3% Studebaker 7% 7% 7% 7% Yellow Truck ... 7Vs 7 7 7 Motor Access— Bendix 23 22% 22% .22 Bohn Alum 49% 48% 49% 48% Borg Warner .. 6i% 61% 61% 61% Briggs 54%. 53% 53% 54% Bucfd Mfg 7% 7% 7% 7% Budd Wheel 11% 10% 11 10% Eaton Mfg .... 29% 29% 29% 30 Elec Auto Lite.. 37% 37% 37% 37 Elec Stor Bat.. 54 53% 54 53% Houdaille “8"... 27% 27% 27% 29%' Mullins Mfg .... 15*2 15% 15% 15% Murray Body ... 19% 19% 19% 19% Stew Warner ... 17% 17% . 17% 17% Timken Roll . . 67% 67‘2 67% 68 Timken Det Axle 10% 10% 10% 10% Mining— Alaska Jun .... 14% 14% 14% 14% Am Metals 27% 27% 27% 26% Am Smelt 60% 58% 58% 60 Anaconda 21% 21% 21% 21% Cal & Hecla ... 5% 5% 5% 5% Cerro De Pasco . 60% 59’s 59% 60% Dome Mines ... 38 37% 37V* 38 Granby . 13 13 13 12% Grt Nor Ore ... 14% 13% 13% 14% Howe Sound 53% 52% 53% 52% Ins Copper 6% 6% 6% 6% Int Nickel 34% 34 34 34% Kennecott Cop . 27% 27% 27% 27% Mclntyre Mine.. 34% 34% 34% 35 Park Utah ..... 4% 4% 4% 4% Phelps Dodge ... 25% 25% 25% 25% St Joe Lead 21% 21 21 21 U S Smelters... 98 98 98 98 Vanadium 20% 19% 19% 19%8 Amusements— Crosley Radio .. 16% 16% 16% 16% Fox Theat 18% 18% 18% 18% Loews Inc 50% 49% 49% 48% Radio Corp 8% 8 8 8% Paramount 9% 9% 9% 9% RKO 5% 5% 5% 5% Warner Bros ... 8% 8% 8% 8% Tobaccos — Am Snuff 27% 27% 27V* 72 Am Sum Tob .101% 101% 101% 27% Am Tobacco ‘A’.104% 104% 104% 103% Am Tob ' BB’ ... 53% 53% 53% 105% Lorillard . 26% 26% 26% 26% Phillip Mjrris ..63% 61% 61% 59% Reyn Too “B".. 56% 56% 56'% 56% Rails— Atchison 58 49% 49% 49% Atl Coast Lines 26% 26% 26% 26% B & O . 15% 15'* 15'* 15% Can Pacific .... 9% 9% 9% 9% ICh & Ohio 45% 45% 45% 5% I Chi & Gt W .... 1 1 1 1 CM& St P . . 1 1 1 1% C M & St P pfd. 1% 1% 1% 1% Chi N V/ 2% 2% 2% 2% Chi N W pfd ... 5% 5% 5% 5% Dela & Hud ... 35% 35 35 35 Del Lac & W ... 15% 15% 15% 15% Erie 10% 10% 10% 10% Erie pfd 14 14 14 14 Grt Northern pfd 28% 28 28 28% 111 Central 16% 16% 16% 16% Lou & Nash ... 47% 47% 47% 47 M K & T 5% 5% 5% 5% M K & T pfd.. 10% 10% 10% 11 Mo Pac Dfd .... 2% 2% 2% 2% N Y Cent 24% 23% 23% 24 N Y New Haven 33 33 N Y Ont & West 4 4 4 3% Nor Pacific .... 20% 20% 20% 20% Penn R R 28% 28% 28% 27% Reading 34 33% 33% 34 Sou Pac ..: 19% 19% 19% 19% Sou R R 10% 10Vi 10% 10% Union Pac 97 96 96 96 West Maryland. 8% 8% 8% 8% Equipments— Am Brake Shoe. 37 36% 36% 36% Am Car & Fdy . 25', 24% 25% 24% Am Loco ... 20% 19% 19% 19'* Am Steel Fdy... 24% 23% 23'* 22'Bald Loco . ... 3% 33% 3 Gen Am Tank C 45% 44% 45% 44% Gen Elec 37% 36% .. 36% Gen R R Sig ... 36’ s 36 36% 36 Pullman Inc ... 35'2 34% 34% 35% | West Air Br ... 28 271* 27'* 27% Westingh Elec... 90% 89% 89% 90% Utilities— Am & For Pwr . 6% 6% 6% 6% Am Power & Lit 8% 8 8% 8% AT&T 146% 146 146 145% Am Wat Wks .. 19% 19 19 18% Col Gas & Elec 14% 14% 14% 14% Automobile DEPOSITORY Bank from Your Cur Bankers -Trust Cos.

INVEST with Ist Mortgage Security on Improved Real Estate BUY Building & Loan Shares

j—WE BUY. SELL. and gladly furnish quotations oo: 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 CAST MARKET STREET

INDIANAPOLIS, THURSDAY, NOVEMBER 7, 1935

Comm & Sou ... 2% 2% 2% 2% Consol Gas . ... 31 30% 30% 31% Elec Pwr A: Lit. 5% 5% 5% 6 Int Hydro Elec... 3% 3% 3% 3% Interboro R T .. 19% 19% 19% 19% Int T & T .... 11% 11% 11% 11% LOU & E -A’ .. 20% 20% 20% 20% Na* Pwr & Lit . 10% 10% 10% 10% North Amer . 25% 25% 25% 25% Pac O & E ... 30 29% 29’* 29% Peoples Gas . . 37% 37% 37% 37% Pub Serv N J . 44% 43% 43% 44% So Cal Edison ... 25% 25% 25% 25% Std Gas ... 4% 4% 4% 4% Stone & Web 13 13 13 12% United Corp .... 6% 6% 6% 6% Un Gas Imp . .. 17% 17% 17% 17% Ut PSi Lt A’.. 32% 2% 2% West Union ... 64% 62% 64% 62% Rubbers— Firestone 17% 17% 17% 17% Goodrich 13% 13 13 13 Goodvear >2% 22 22 22% U S Rubber .... 15% 15% 15% 15% U S Rubber pfd 41 40% 40% 40% Miscellaneous— Allis Chalmers .. 36% 36% 36% 36% Am Can 143% 143 143’* 143% Am Mach & Fdy 29% 29% 29% 29% Anchor Cap .. 15% 15% 15% 15% Brklyn Man Tr . 42% 41% 42 42% Burroughs Add . 26 25 s * 25% 25% J 1 Case 104 103% 104 103% Conti Can 95% 94% 95% 95% Caterpillar Tract 59% 59 59 59% Crown Cork ... 46% 45% 46% 46 Curtis Pub .... 19% 19 19% 19% Deere & Cos. .. 55% 55% 55% 55% Eastman Kodak .166% 166% 166'* 167' Foster Wheeler . 22 22 22 22% Gillette 17% 17 17% n plidden 38% 38 ?8% 38% Ingersoll Rand .121 121 121 120% Int Bus Mach .. .181 180 180 179 litter Karv . . 58% 58 58 58 Natl Cash Reg.. 21 20% 20% 20% Owens Bottle ...120 119% 120 119% Rem Rand 14% 14% 14% 14% Underwood E 81% 81% 81% 81% Worthington Pm 23% 23% 23% 237a Foods— Armour 4% 4% 4% 4% Armour 6% pfd 65% 65% 65% 65 Beatrice Cream. 16% 16% 16% 16% L'orden Prod .... 26% 26% 26% 26% Cal Packing 35% 35% 35% 35% Coca-Cola 290 282 290 280 Cont Bak “A”... 8 8 8 8% Corn Prod 69% 69% 69% 69 Crm of Wheat .. 37% 37% 37% 37% Gen Baking .... 12% 12 12% 12% Gen Foods 33 32% 32% 33% Gold Dust 17% 17 17% 17 G W Sugar 30 29% 29% 29% Int Salt 27% 27% 27% 27 Loose Wiles .... 38% 38% 38% 38% Natl Biscuit .... 35% 35% 35% 35% Natl D Prod .... 18 17% 18 17% Purity Bak 16 16 16 16% S Porto Rico Sug 25% 25% 25% 25% Std Brands 17'/* 17% 17% 15% Un Biscuit 24% 23% 23% 23% United Fruit ... 69'/* 68% 69% 69'% Retail Stores— Assd Dry Goods. 16% 16% 16% 16'% Best &Cos 57% 57% 57% 57 First Natl Stores 47% 47% 47'% 48 Gimbel Bros 7% 6% 7 6% Allied Sts 7% 7% 7% 7% Jewel Tea 55 55 55 55 Kresge S S 27% 27'% 27% 27% Kroger Groc ... 27% 27% 27% 27% Macy R H 53% 53% 53% 53% McCrory St 12% 12% 12% 12% McLella.i St 13% 13% 13% 13% Marshall Field .. 13% 13% 13% 13% May D pt. St ... 53% 53 53 53% Mont Ward 35% 34% 35% 34% Natl Tea 10% 10 10 10% Fenney J C .... 80% 79% 79% 80% Safeway St 33% 33% 33% 34Vs Sears Roebuck .. 61% 60% 61% 60 Woolworth 59% 59% 59 Vi 59% Aviation— Aviation Corp ... 3% 3% 3% 3% Boeing Aircft ... 13% 13% 13% 13% Curtiss Wright . -2% 2% 2% 2% Curtiss Wrt “'A” 8% 8 8 7% Douglas Air 33% 33 33 33 Nor Am Av .... 4% 444 Sperry Corp 12% 12% 12% 12 Unit Air New .. 20Vs 19% 20% 19% Chemicals— Air Reduction ..171% 171% 171% 172% Allied Chem ...165 164 164% 163% Am Com A1 34% 34% 34% 34% Col Carbon 100% 100'% 100% 100'% Com Solvents ... 18% 18 18% 18% DuPont 141 139% 139% 141% Freeport Tex ... 28% 28% 82% 28% Liquid Carb 35% 35% 35% 35% Math Alkali 32% 32% 32% 32% Monsanto Chem . 93% 93 93% 93% Natl Dis (new) .34 33'% 33% 33% Schenley Dist .. 54 53 53% 53% Tex Gulf Sulph .32 31% 31% 32 Union Carbide .. 72% 71V* 71% 71% U S Indus Ale .. 46% 46'% 46'% 46% Drugs— Bristol Myers ... 41 41 41 41 Ccty Inc 6 5% 6 5’% Lambert 23Vi 22% 22% 23V* Lehn & Fink ..13 13 13 13 Sterling Prod . 67% 67 67 % 66% Un Drug (new). 10% 10% 10% 10% Zonite Prod 6 5% 5% 5% Unlisted Stock (By Blyth & Cos.) NEW YORK BANK STOCKS , Bid. Ask. Bankers 59% 61% Central Hanover B <Ss T 114% 116% Chase 34% 36% Chemical National 51% 53'% Guaranty 288% 292 Irving 15 i/s 16% Manufacturers 37% 38% National Fity 31% 33Vi Cont 111 (Chicago) 80% 83 First Natl of Boston 42% 45'% FIRE INSURANCE Aetna Fire 55% 57'% City of New York (new) 24% 26% Federal Ins 79% .. Great American Ins 26 27% Hanover Fire Ins 36'% 38 V* Hartford Fire Ins 78Vi 80 Home Insurance 34 % 36 Ins Cos of N A r 69% 71 % National Fire 70% 72'% North River Insurance 25% 27% Phoenix Insurance 88% 90% U S Fire 51% 53% Manchester Fire 34% 36%

OFFICE SPACE 4 The availabJa vacancies in the several office buildings under our management offer a full range in price, size and type of office space. KLEIN & KUHN lac. Property Management LINCOLN 3543

Financial— Adams Exp .... 9% 9%* 9% 9% Allegheny Corp . 1% 1% 1% 1% Am Int Corp ... 10% 10 10% 9% Chesa Corp 36% 46 46% 46 Lehman Corp.. 93% 92% 93% 92% Transamerica .. 10% 10% 10% 10% Tr Conti Corp .. 7% 7% 7% 7% Building— Am Radiator .. 19% 19% 19% 19% Gen Asphalt ... 20% 20 24% 20 Holland Furnace 24% 21% 24% 24 Int Cement .. 33% 33% 33% 33% Johns Manville .. 94% 82% 84% 82% Libby Owens Gls 48% 48% 48% 48% Otis Elev 21% 21% 21% 21% U S Gypsum ... 87 86 86% 86 Ulen Cons 4% 4 4% 4% Household— Col Pa! Peet 18% 18 18% 18 Congoleum 41% . 41 41 41 Kelvlnator 14% 14% 14% 14% Mohawk Carpet 23 22% 22% 22% Proc <& Gamble . 50% 50% 50% 50% Servel Inc ... 11% 11% 11% 11% Simmons Bed .. 19 18% 19 19 Textiles— Amer Woolen ... 9% 9% 9% 9% Celanese Corp . 29% 29% 29% 29% Collins Aikman 40% 39 39 40% Gotham Hose .. 8% 8% 8% 8% Indus Rayon ... 32% 31% 31% 32 Chicago Stocks (By Abbott, Proctor & Paine) A. M. Close. 11:30 Prev. DarghoS 5% 5% Butler 8% 8 Chicago Corp 4% 4'* Chicago Corp pfd 46 46% Conti Steel 36% 36 s * Cities Service 2 s * 2 s * Com & Edison 96 95 Cord 3% 3 s * Crane 22 21% Elec House 18% 18% Gen House 4% 4% Grt Dredge 27% 27% Iron Fireman 25 s * 26 Noblitt Sparks 32 32 Pub Service of 111 511/a 53 Quaker Oats 139 137% Swift 19% 19% Zenith 12% 12% New York Curb (Abbott, Proctor <Ss Paine) 12 (Noon) Prev. N. Y. close. Alumn Cos of Am 84 83 Am Cyanide "B" 28% 28% Am Superpower 2% 2% Atlas Corp 13% 12% El Bond & Share 15% 16% Fisk Rubber 7% 71® Ford of Europe 8% 8% Hiram Walker 28% 29 Imperial Oil Ltd 22% 22% Natl Bellas Hess 2 1% Nia Hud Pwr 10 10 Penn Road 33 Wright Hargraves Min 7Vg 7'/ 8 WATER COLLECTIONS TO TOTAL $300,000 Board Reports Increase of $30,000 Over Last Year. Times Special HAMMOND, Ind., Nov. 7.—The water department here today reported that collections for the current year will approximate $300,000, an increase of more than $30,000 over the preceding year. In making the announcement, Percy T. Smith, president of the water board, also stated that the revenue account as of Oct. 30 showed collections amounting to $232,517. Residential and commercial collections at present are about $17,000 greater than a year ago. “We expect to collect $20,000 from the city before the end of the current month and about $38,000 in residential and commercial bills during November and December, which will establish our 1935 collectios at around $295,000,’’ Mr. Smith stated. LOCAL CASH MARKET City grain elevators are paying 89 cents for No. 2 soft wneat. other grades on their merits. Cash corn new No. 4 yellow 51 cents and oats 19 cents.

American National Bank AT INDIANAPOLIS Statement of Condition as of November 1, 1935 RESOURCES Cash on hand and on deposit with Federal Reserve bank and other banks $ 7,250,614 62 United States government securities 13,014,929 07 Other bonds and securities 1,250,258 76 Stock in Federal Reserve bank 100,800 00 Loans and discounts 5,072,576 62 Bank buildings and equipment 1,000,000 00 Customers liability account letters of credit and acceptances 38,769 40 Accrued interest receivable and other resources 113,619 27 $27,841,567 74 LIABILITIES Capital stock: Preferred $1,800,000 00 Common 1,000,000 00 Surplus 560,000 00 Undivided profits 411,231 03 3,771,231 03 Reserve for taxes, interest, contingencies, etc 90,257 94 Reserve for dividend on preferred stock 21,175 00 Letters of credit and acceptances outstanding 39,769 40 Interest collected but not earned 18,069 27 Deposits 23,901,065 10 $27,841,567 74

The Indiana National Bank OF INDIANAPOLIS Condensed Statement of Condition at the Close of Business November 1, 1935 RESOURCES Cash on hand and on deposit with Federal Reserve and other banks $30,195,139 05 United States government securities M 3,432,335 32 Other bonds and securities 6,127,114 35 Loans and discounts 12,440,738 22 Overdrafts 341 49 Bank building and equipment 1,270,652 12 Other real estate owned . 88,770 63 Accrued interest receivable 23,029 99 Other resources 41.530 48 $93,619,651 65 LIABILITIES Capital $ 3.000,000 00 Surplus 3,000,000 00 Undivided profits 474,736 65 Reserve for contingencies 140 926 80 Deposits 87,003.600 20 Other liabilities 388 00 $93,619,651 65

SWINE MARKET MOVES HIGHER; RECEIPTS DROP General Bulk Up 5 Cents: Cattle Trade Slow, Unchanged. With a slight drop in receipts at the Indianapolis Union Stockyards today, the pork market managed to recover part of yesterday's decline. The market generally was 5 cents higher, with underweights up 10 to 15 cents. Receipts were estimated at only 3000, the lightest supply on hand this week. Holdovers, however, numbered 121 despite the light supply. The top price today held at $9.50. The bulk of 160 to 275 pounds, sold at $9.35 to $9.45. while heavier grades scaling from 275 pounds and upward, brought $9 to $9.30. Light slaughter pigs, weighing from 100 to 160 pounds, were salable at $8.75 to $9.20. Good grades of packing sows cashed in at $8 to $8.75. Trading again was slow in the cattle market with only a few steers and heifers available. The bulk of steers was valued to sell under $9. Cows were steady at mostly $4.50 to $6. Receipts numbered 1000. With practically no demand prevailing, vealers moved sharply 50 cents to $1 lower than yesterday's best average. The bulk of good and choice grades sold from $10.50 to sll, Receipts were 600. Lambs displayed a steady trading range, with the bulk of better grade ewe and wether kinds selling at $9.25 to $lO. Bucks were discounted from 50 cents to sl. Slaughter sheep sold at $3 to $5. Receipts numbered 3000. Other Livestock (By United Press) CHICAGO, Nov. 7.—Hogs—Receipts. 16,000. including 4000 directs; mostly steady to 5 cents lower than Wednesday's average: 190 to 280 lbs., $9.2009.35; top. $9.35; 290 to 359 lbs., $97/9.20; better grade 140 to 190 lbs., $8,750/9.25; best sows. $8.50. Cat-tle-Receipts, 6000; calves, 1500; lower grade steers and yearlings predominating; mostly grassy and short fed kinds; trade very drowsy and weak: largely 50 cents under a week ago; meager supply better grades steady at sll upward: no strictly choice heavies here; best yearlings $12.25; top on weighty steers sl2; bulk of steers crop promises to sell at $9 downward; Stockers and feeders very slow; she stock, bulls and vealers generally steady. Sheep —Receipts. 9000; very slow: fat lamb indications 25 to mostly 50 cents lower; or $9.50 down on bulk good to choice natives and comebacks: best held $9.607/9.75 and above; sheep weak; feeding lamb quality plain; as yet few sales; slaughter ewes, [email protected]. • FT. WAYNE, Nov. 7.—Hogs 10c higher; 160 to 180 /bs„ $9.25; 180 to 200 lbs., $9.15; 200 to 220 lbs., $9.05; 220 to 240 lbs.. $8.95; 240 to 28 lbs.. $8.80; 280 to 300 lbs., $8.70; 300 to 350 lbs.. $8.50; 140 to 160 lbs.. $9: 12 to 140 lbs.. $8.75; 100 to l*) lbs., $8.50. Roughs. $7.75; stags, $6; calves, $11; lambs, $9.50. LAFAYETTE. Nov. 7.—Hog market 5 to 10c higher; 200 to 250 lbs., $9,107/9.20; 230 to 325 lbs., $8.90 to $9.05; 140 to 200 lbs., $8,957/9.1; 100 to 140 lbs., 58.4508.70. Roughs, $8.50 down. Caves. $lO down. Lambs, $9 down. Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,546,000 Debits 6,230,000 TREASURY STATEMENT (By United Press) WASHINGTON. Nov. 7. —Government expenses and receipts for the current fiscal year to Nov. 5 as compared with a year ago: This Year. Last Year. Expenses $2,733,464,089.07 $2,431,728,329 88 Receipts. 1,305,469,013.30 1,299,135.658.08 Deficit .. 1,427,995,075.77 1.132.592,671 80 Cash Bal. 1,488,452,275.38 1.724,737,601.02

New Rail Bonds to Be Offered Severity-five million dollars in railroad obligations to be offered to the public in the near future by the Reconstruction Finance Corp., it is indicated in applications to the Interstate Commerce Commission.

DENIES RUMOR

JMO>-

Dr. H. H. Kung Rumors of a British loan to China were denied by Dr. H. H. Kung, Chinese Minister of Finance, and Sir Frederick Leith-Ross, chief economic advisor to the British government.

Local Livestock HOGS Nov. 1. $9.40® 9 50 $9 50 4000 2. 9.30® 9.40 9 45 1200 4. 9.45® 9.55 9.55 4000 5. 9.35® 9.45 9.50 4000 6. 9,300 9.40 9.45 4000 7. 9.35® 9.45- 9.50 3000 Light lights. G4O-160) Good and choice. $9 00® 925 Medium 8.25® 9.00 Lightweights. G6O-180) Good and choice.... 9.20® 9.40 Medium 8.70® 9 20 (180-200) Good and choice... 9.357/ 9 45 Medium '. 8 85® 9.35 Medium Weights. (200-220/ Good and choice... 9 40® 9 50 (220-250) Good and choice.. 9.35® 9.45 Heavyweights. (250-2901 Good and choice... 9 30® 9.40 (290-3501 Good and choice... 9.10® 9.30 Packing sows. (275-350) Good 8.50® 8 85 (350-475) Good 8.357/ 875 (425-450) Good B.oo® 850 (275-450) Medium 7.75® 8.25 Slaughter Pigs. GOO-140) Good and choice... 8.75® 9.00 Medium B.oo® 8.85 CATTLE —Receipts. 1000— (500-900) Choice $lO 257*11 50 Good 8.75® 11.00 Medium 7.00® 9 00 Common 5.00® 7.00 (900-1100) Choice 11.25W12.25 Good 9 25® 11.50 Medium 7.25® 9 25 Common 5.25® 7.25 (1100-1300) Choice 11.75012 75 Good 9 75011.75 Medium 7.25® 9.75 (1300-1500) Choice 11.75® 12.75 Good 9.75® 11.75 Heifers (500-750) Choice 9 25010.25 Good 7.75® 9.25 Common and medium 4 25® 7.75 (750-900) Good and choice... [email protected] Common and medium 4.50® 8.25 Cow* Good 5.25® 6.25 Common and medium 4.25® 5.25 Low cutter and cutter 3.00® 4 25 Bulls, good 5.50® 6 00 Cutter, com. and med. bulls... 4.00® 5.50 VEALERS —Receipts, 600— Good and choice $lO 50011.00 Medium 8 50W.10.50 Cull and common 5.50® 8.50 Calves (250-500) Good and choice... 7.00® 950 Common and medium 4 00® 7.00 —Feeder and Storkrr Cattle—-(soo-800) Good and choice.... 6.75® 8.75 Common and medium 4.50® 6 75 (800-1050) Good and choice.... 7 00® 8.75 Common and medium 4.50® 7 00 Good 4 00® 4.75 Common and medium 3.50® 4.00 SHEEP AND LAMBS —Receipts, 3000— Lambs, 90 lbs. down, good and choice $9 25010.00 Medium 7.50® 9.25 Ewes. (90-1251 Good and choice... 4.00® 5.00 All weights, common and medium 3.50® 4.50 (120-150) Good and choice... 3.00® 4.00

ifletcher frost dampang Statement of Condition November 1, 1935 BANKING DEPARTMENT RESOURCES Cash on hand and with Federal Reserve Bank and other banks $ 5,672,438 31 U. S. Securities pledged for public deposits.... 675,000 00 unpledged 13,362,028 19 14,937,028 19 State, Municipal, Corporate Securities pledged for public deposits.... 1,846,611 66 unpledged 5,350,687 34 7,197,299 00 Loans and Discounts 6,241,523 03 Bank Buildings and Equipment. 1,115.202 69 Other Real Estate 396,025 61 Other Resources 83,385 09 $34,742,901 92 LIABILITIES Capital Stock $ 1500,000 00 Preferred Capital Debentures.. 1,000,000 00 Surplus and Profits 752,515 23 3,252,515 23 Reserves 129.629 87 Guaranteed Mortgage Certificates 98,100 00 Deposits Commercial 16.327.841 59 time 14,441,025 34 First-lien Trust Funds 493,789 89 31262,656 82 $34,742201 92 TRUST DEPARTMENT Trust Funds Invested $15,664,087 67 Trust Funds Uninvested... 493,789 89 Customers’ Securities 1,957,440 03 Corporate Trusts 22,741,000 00 Real Estate Trusts 8,446,615 95

Condensed Statement of Condition of the The Merchants National Bank OF INDIANAPOLIS Indianapolis, Indiana At the Close of Business November 1, 1935 RESOURCES Cash on hand and on deposit with Federal Reserve bank and other banks $14580,044 33 United States government securities 5,120,604 13 Other bonds and securities 1,790595 57 Loans and discounts 4256567 44 Bank building and equipment 1,000,000 00 Other real estate owned 5,000 00 Other resources 109,438 00 $27562,049 47 LIABILITIES Capital .. .....$ 1.250,000 00 Surplus 1550,000 00 Undivided profits 699,499 15 Reserve for taxes, Interest, etc 100,000 00 Deposits 34562.550 32 $27562,049 47

ETHIOPIA LAR6E EXPORT MARKET FOR JAPANESE Low Prices Maintain Lead Obtained Immediately After World War. Ru Vnitrrl Prrtx WASHINGTON, Nov. 7.—Japan it the largest foreign supplier of merchandise to Ethiopia at present, the Commerce Department reported today. The bulk of Japanese exporta consist of cotton textile goods, the report said. Japan was said to have started exporting to Ethiopia immediately after the World War “and, because of the low prices quoted, quickly obtained a dominant position in the market.’’ Commenting on Italian-Ethio-pian trade, the report pointed out that the latest figures available cover 1933. Most of this trade, the department noted, was carried on through Italy's African colony, Eritrea. In 1933. Italy imported directly from Ethiopia products valued at 2.345.000 lire and shipped to that country goods valued at 654,444 lire. Imports into Eritrea from Ethiopia in 1933 amounted to 22,189,000 lire, while exports from Eritrea to Ethiopia totaled 19.270,000 lire. The average value of a lire in 1933 was approximately 6% cents. 75 Per Cent Through French The report also noted that approximately 75 per cent of Ethiopia’s foreign trade passed through the French port of Djibouti, and added that the chief export products were coffee and hides. At the same time, the Bureau of Foreign and Domestic Commerce announced that it had received a report from its representative at Hamburg, Germany, concerning a three-cornered trade barter involving Italy, Hungary and Germany. According to reports attributed to official sources in Hungary, the bureau said that country would import about 300,000 kilograms of rayon yarns valued at 3,500,000 lire from Italy, for which payment will be made indirectly by the shipment of equivalent amounts of Hungarian fats and grains to Germany, and of German coal to Italy. MINT PRODUCTION UP Times Special WASHINGTON, Nov. 7.—American mints during the first 10 months this year produced more than 434,141,006 domestic coins, the largest number in any full year for the last decade, the Treasury Department announced here today. Chicago Grain Futures (By James E. Bennett & Cos ) 11:30 Prev. Wheat— High. Low. A M. close. Dec 98% .97 .97% .97% May 98% .97% .97% .97% July 90% .89% .89% .89% CornDec 59% .59% .59% .59% May 60 .59% .59% .59% July 61% .60% .60% .60% Oats— Dec .26% .26% .26% 26% May 28% .28 / .28% .28% RyeDec 49% .49% .49% .49% May 51% .51% .51% .51% July 53 .52% .52'/* .51%