Indianapolis Times, Volume 47, Number 217, Indianapolis, Marion County, 19 November 1935 — Page 13

T rends Auto Industry Is Creator of Wealth. BY JOHN T. FLYNN

Detroit, Mich., Nov. 19 There is plenty of talk in this region about the ‘menace of higher fixes'' and other fronts in what is called the Administration's “war on wealth ’ But here in Detroit I have just witnessed what I think must amount to a real war on wealth by the very people who are most alarmed by this war. This city, so

heavily hit two years ago when its banks crashed has been an extraordinary center for the creation of wealth real wealth. Its automobile industry has sent out from its assembly lines steady streams of new cars. This is wealth. The deed

John Flynn

which evidences your ownership to the car is not wealth. It is a claim nn wealth. The cars are wealth. The factories are wealth. And for this reason Detroit’s auto makers must be classed as among the leaders in America in the creation of wealth. But three vears ago the countrywide depression had resulted in shocking this flow of wealth here, producing great unemployment and, finally, the severe embarrassment of the city whose bonded debt had grown as fast as the city had grown and which now weighed like a great ball and chain upon Detroit’s feet. a a a WITH the flood of new purchasing power created by government spending, the automobile industry had the courage to go forward in the only way that this process can be carried on in our system. It proceeded to perfect. its mechanical processes, to produce better cars at lower prices. This was the resumption of wealth creation. It put people to work. 3t brought money into Detroit. It enabled citizens to pay their current and back taxes. It enabled the city to re-establish its credit. Alongside all this, the United States government, at the urgent request of certain citizens’ groups, set aside $4,500,000 to build several apartment houses and individual dwellings near Chandler Park, to provide dwellings for 785 families. If there is one form of wealth which Detroit, along with all big cities, needs, is low-cost homes for its poorer paid workers. Private industry won’t build them here anymore than anywhere else. And so the government offered to supply the money. The project is nearing the point for beginning work. Now comes the City Council, inspired by the Real Estate Board, and protests against the project. The reason given is that it will reduce valuesthe values of the other houses in the neighborhood. They now rent for S2O and up. but with reviving business they will soon command higher rents. This will be possible by reason of the scarcity in homes created by the long pause in building. a tt tt ''TMIEREFORE they object to X more houses being built. Th°y object to creating more wealth, because scarcity of wealth makes for higher values. The real estate men. therefore, make war on the creation of wealth —the creation of housing wealth which the city needs so desperately—because they confuse real wealth with the claims on wealth; they confuse wealth with value. However, these men do but take a leaf out of the lessons taught them by the national government, with its production limits on hogs, wheat, corn, potatoes, in order to raise prices. The simple truth is that this nation has been deliberately engaged in a planned war on wealth. However, Detroit is not, singular in this respect. Real estate interests everywhere have carried on the same fight. They have done it in New York. To the credit of Detroit, however, be it, said the council backed down in its protest and the housing project will go forward. When it, does, Detroit will be richer by 785 more housing units. It could easily use several thousand more. (Copyright. 19.15. NKA Service. Inc.) On Commission Row Quotations below subject to change are average wholesale prices being offered to buyers by local commission dealers: Fruit Cranberries, early blacks. 25-lb. b"\ S4. Pears—Michigan Bartletts. bushel. $2: Avocados. Florida, box. $2.50. Cantaloupe—California Honey Dews, $2: Casabas. $2 25: Persians. $2.25. Bananas - 7 hands, a pound. 5' c. Persimmons —Indiana. 12-qt case. $1 Apples—lndiana Jonathans. $1.25m 1.35, Summer Rambos, Si: Delicious. $1.25m'1.50: Wealthys. $1; Grimes Golden. $1.35. Lemons—Sunkist, 3605, $6.50. Grapefruit—Texas, 64s to 70c. $3.75: Florida seedless. $3.25. Limes— Mexican a carton 12s. 20c; Persian seedless a hundred, $3. Vegetables Beans, green, round stringless bu.. $2 25. Beets Home grown, doz., 26c. Cabbage Northern Danish. 50-lb bag. 75c Carrots Home grown. 35c; new bulk, half bu.. 60c Cauliflower—Michigan, crate $1 50: Long Island, large crate. $1.50. Celery- Michigan, washed and trimmed, extra large. 45c: jumbo, doz., 75c. Cucumbers—Southern bu . $4: doz.. 85c. Kale Home grown, bu., 60c Lettuce—-Ice-berg, California, besi. $4.75: home grown leaf. 15-lb. basket, sl. Endive—Ohio basket. 60c '-tangoes -California crate. $3 50; small basket, 40c. Mint—Bunch. 15c. Mustard—Home grown, bu . 60c. Onions yellow. 10-lb bag, 22c: western Spanish. 50-lb bag, $1.65. Farley—Home grown, dor . 35c. Feas —Telennone, hampers. $3. Potatoes -Round Cobblers. 100-lb bag, $1 65; Michigan Round White. 100-!b. bag. $! 50 Early Ohios. bu . $1 65: Idaho Russets. $2 30 Sweet potatoes—lndiana. Jerseys, bu.. $1 65. Radishes—Ohio, button. doz baskets, 45c. Sage—Doz., 45c, Spinach Broad leaf. bu.. 75c. Squash— Bu $1 50 Tomatoes—California, repacked. 10-lb. carton. $1.25. FRUITS AND VEGETABLES <Bv United Press! CHICAGO Nov. 19 Apples—Michigan Mclntosh, bushel. 75cm SI 35. Carrots— Illinois, bushel. 25m 35c Sweet potatoes— Tennessee, bushel. 90c. Beans—Florida bushel. $1 25 ..1 85 Cabbage—6o-70-lb. crates, 50 1 65 c Peas-California, bushel hampers $2 50m 3.65. Tomatoes—California lugs, $1.25 2 25. Spinach—lllinois, bushel, 35m 65c Lettuce W estern crates. 5 doz.. 53.25m'.50. Cucumbers Florida bushel. slso'. : 50. Celerv- Michigan, sq. crates, 40m 75c Cauliflower—New York, crates. $1 .25m 1 60. Onion market .50-lb. sacks': Minnesota yellows. 60c: western Valencias. St 17',; Illinois yellows 75M90c. Wisconsin yellows. 85 90c: Michigan yellows, 90c; Indiana yellows. 70c. Produce Markets The price* quoted below are paid for sock gathered in the country, while delivered in Indianapolis the price will be a cent higher. Heaw breed hens. 17c; Leghorn breed hens 12c; springers, over 4', i ' Tc: under 4', lb'.. 16c; old corks. 9c: Leghorn springers. 11,I 1 , lbs. and up. 12c. . urkeys—Young hens 8 lbs and up. 20ctoms. 13 to 18 lbs 20c: over 18 lbs. 19c old toms. 15c Ducks—White. 4', lbs. and VJV Vi r 10 lbs I" 1 * feathered and !, ■ °‘d guineas. 15r; voung guineas. I, and 'p. 25c No. 1 strictly fresh fnM* - 8c; bullet eggs. 180 Each duriinn 3 5 lbs cross, a deduction of 10c a pound under 55 lbs. will 4SI Lt/i 1 b, ‘ tter - 35'36 %c: No. 2. Wadley Co s; buUerUt ‘ 31c - Quoted by the

SCRIBES LEARN ABOUT CANADIAN TRADE TREATY Press Conference Brings Many Questions on New Agreement. BY RUTH FINNEY Times Special Writer WASHINGTON. Nov. 19.—School ; was held in the lovely paneled dining room of the White House Sunj day afternon, and 120 newspaper men and women attended. Subject was the new Canadian ] trade agreement; teacher, the President of the United States; text, | 146 pages of documents. Class was ! in session an hour and a quarter. To explain the agreement which |he believes will revolutionize our | trade relations with the neighbor ; which buys more from us than all Latin America or all Asia, President Roosevelt had his desk moved into 1 the state dining room and chairs j arranged in front of it for the press. Hull, Wallace Attend He sat at one end of the room with Secretaries Hull and Wallace on either side of him and six tariff experts back of them. Occasionally he would ask the experts if he was right, and he was. Frequently one of them would lean forward and suggest additional information, but when the questions started shooting from all corners of the room the professor coped with them himself. Abraham Lincoln dominated the scene f-om the wall behind the professor and if he felt any partisan distress at the scrapping of the Hoover-Smoot-Hawley tariff rates, since enactment of which this country has lost G 6 per cent of its export trade with Canada, there was nothing to indicate it. For any heroic spirits that might have been hovering about, the frank talk between teacher and class was probably a relief from formal state dinner-table conversation usually heard within those walls. The parts that made the session worth tramping out for, in a chill rain on a Sunday afternoon, were off the record, but this is the way it went the rest of the time: Reduced Tariff on Whisky “Does the reduced tariff rate ton liquor) only apply to whisky?” asked Turner Catledge of the New York Times, with a hopeful air. “No other spirits?” No other spirits. Paul Ward of the Baltimore Sun asked about the amount of cream Canada will be able to send into this country and was almost drowned in a sea of figures and percentages. It appeared that the concessions cover enough cream to supply one pint a year for every 15 Americans. William H. Doherty of the unfriendly Hearst papers wanted to know how long the agreement would remain in effect and whether Congress could set it aside. He learned that the agreement could not be set aside by either country | for three years. Expect Collection Increase “How much will this cost us in tariff duties?” asked Raymond P. Brandt of the St. Louis Post-Dis-patch, and was told that the agreement is expected to increase tariff collections in both countries because of a larger volume of trade. Jay Hayden of the Detroit News reminded the President that a number of Congressmen are prepared to press for legislation to get around the agreement by applying new restrictions against imports. He found the President prepared for such action. and willing to negotiate new agreements where real injury could be shown by any substantial group of citizens. Catlege and Clarence Linz of the New York Journal of Commerce were uneasy about the President's power to bind articles on the free list—to guarantee, for the benefit of manufacturers wanting to plan ahead, that duties would not be imposed in the immediate future. The President explained that he had no power to put any article on the free list, but that the questioi.e-> guarantee fell into the category of agreements negotiated without treaty between countries, and that he decidedly did have such power. Bootleggers Hit “And if Congress repeals the reciprocal trading act next year . . . ?” If seems that if the act is repealed no new agreements can be entered into but the old ones will be in effect for three years at least. It developed that bootleggers won't do so well under the new treaty. They have been enjoying an advantage of about s2l a case in selling their goods here. They will lose much of that advantage when four-year-old whisky goes on legal sale at lower prices due to the 50 per cent reduction in this country's tariff. Examinations weren't held at the end of the session. If they had been, here are some of the* facts and forecasts that would have been required to win a mark of 100 from j the teacher. Every section of the United States : and most branches of industry and agriculture will benefit from the reductions in the Canadian's imi port duties. Rates Low on 80 Items In the case of 80 or more duty reductions, rates are lower than those heretofore paid to Canada on ! goods from any non-British country. These reductions benefit American growers of fresh vegetables, of citrus fruits, certain nuts and seeds, certain fish products, a broad range of machinery, electrical equipment, manufactures of iron and steel, dressed lumber and flooring, and manufacturers of wood and paper. Magazines and periodicals will eni ter Canada duty free. It is expected that our factories wil! sell enough goods to substantial- | ly increase the purchasing power of factory workers, so that they can buy more products of both American farms and factories. The agreement is expected to provide substantial benefits to American farmers who consume goods produced in Canada, as a result of lowered tariff rates on our part. It is expected to bring about at 1 least as much sale of American I farm products in Canada as of Cai nadian farm products in the United I Stales.

Abreast of The Times on Finance

INDIANAPOLIS, TUESDAY, No\ EJIBER 19, 1935

New York Stock Exchange Prices

(By Thomson & McKinnon) Oils— Amerada 73% 73% 73% 74 Atl Rfj? .. 25 *4 25% 25' 4 25 Barnsdall 12% 12 ! 2 12% 12% Consol Oil .... 9 s . 9% 9% 9% Con-, of Del ... 27% 27'2 27% 27 1 a Houston (new) . 4' 4 4' 4% 4'* Mid Cor.t Pet .. 16'2 16% 16% 16' 4 Ohio Oil 11% 11-'s IPs IPs Phillips Pet .... 35% 35'4 35’2 35% Pure Oil 13% 13% 13% 12 Shell Un 13% 13% 13% 13% Skelley Oil 16% 16% Soc Vac 12% 12% 12% 12% S O of Cal 33 37% 38 37% S O of Ind 28% 28% 28% 28% S O Os N J 49% 49% 49% 49% Texa.s Corp .. 24% 24% 24% 24% Tidewater Assn . 12 11% 11% 11% Un Oil of Cal . 20% 20% 20% 20% Acme 72% 72% 72% 74% Steels— Am Roll Mills . 31% 31% 31% 31% Beth Steel ■ 50% 49% 49% 48% Col Fuel & Iron 4 4 4 4 Cruc Steel .... 28% 28 28% 28% Inland Steel ...107% 107% 107% 107% Ludlum Steel . . 25 24% 24% 25 McKeesport Tin 125% 125% 125% 126 Mid Steel 23% 23 23% 23 Natl Steel 83% 83 83% 82% Otis Steel . ...17 16% 17 17% Rep Iron & Steel 20% 20% 20% 19% U S Pipe & Fdy 20% 20% 20% 21 U S Steel ... 49'% 49% 49% 49% U S Steel pfd ..116% 115% 116% 115% Warren Bros 4% 3% 4% 3% Youngsn S& T 35% 35% 35% 35% Motors— Auburn 36% 36% 36% 36% Chrysler 88% 87% 87% 87-% Gen Motors .... 581a 58 58% 58 Hudson 15% 15 15 15% Hupp ... 2% 2% 2% 2% Mack Truck ... 26 25% 26 25% Nash 17% 17% 17% 17% Packard 6% 6% 6% 6% Reo . 4% 4' g '4% 4% Studebaker .... 8% 8 8% 8 Yellow Truck .. 8 7% 8 7% Motor Access— Bendix 21% 21' % 21% 21% Bohn Alum 51% 51% 51% 51% Borg Warner ... 62 61% 62 61% Briggs 52% 51 52% 51% Buda Mfg 8% 8% 8% 8% Budd Wheel 12% 12% 12% 12% Eaton Mfg 27% 27% 27% 27% Elec Auto Lite.. 3414 34% 3414 34% Elec Stor Bat.. 55 55 55 56% Houdaille “B”.. 26% 26% 26% 26% Murray 80dy... 18% 18% 18% 18% Stew Warner ... 16% 16% 16% 16% Timken Roll ... 72'% 71 72% 70'% Timken Det Axle 10 Vi 10 10'% 10 Mining— Alaska Jun .... 15% 15 15% 15 Am Metals 30% 29% 30% 291a Am Smelt 61 60% 60% 60', 2 Anaconda 23 Vi 23 Va 23'% 23 Cal & Hecla .. 5'% 5% 5% 5% Cerro De Pasco 59% 59% 59% 59 Dome Mines ... 39% 39% 39% 39% Granby 13% 13% 13% 13% Howe Sound ... 56% 55% 56% 56'A Int Nickel 37% 37% 37'% 37% Kenn-acott Cop .. 28% 28% 28% 28% Mclntyre Mine . 35% 35% 35% 35% Park Utah 4% 4% 4% 4% Phelps Dodge .. 2525% 25% 25% St Joe Lead ... 23% 23% 23% 23% Vanadium 20 19% 19% 20 Amusements— Loews Inc 53 Vi 53'% 53'% 53 Radio Corp 10 Vi 10 10 10 Paramount 9'/a 9% 9% 9% RKO 5*4 5'% 5'% 5% Warner Bros .... 8% 8% 8% B'% Tobaccos — Am Sum Tob .. 26% 26% 26% 26% Am Tobacco 'A' 104'4 104’,% 104% 103% Am Tobbaco ‘B’ 106% 106'% 706'% 107 Gen Cigars .. . 48'% 48% 48% 47% Ligg B Myers'B’ 116 Vi 116'/* 116'% 116% Lorillard 26 26 26 26% Philip Morris 61 61 61 61% Reynolds Tob ‘B' 58'% 57’% 57% 58 Rails— Atchison 53 52% 53 52 Vi Atl Coast Lines 27% 27% 27% 27% B&O 15% 15% 15% 15% Can Pacific Ills 11% 11% 11% Ch & Ohio 52% 51% 52% 52 Chi & Gt W . . 1 % 1% 1% 1% C M & St P pfd 2 1% 1% 2 Chi N W 2% 2% 2% 2'% Chi N W pfd 5% 5% ’% 5% Dela & Hud 35% 35% 35% 35'-, Erie 11% 11% 11% 11% Erie pfd 14% 14% 14'% 14% Grt Northern pfd 32% 31% 32% 31% 111 Central 16'/* 16 16% 16 Lou & Nash ... 53 53 53 53Vi M K & T pfd 11% 11% 11% 11% Mo Pac 1% 1% !% 1% Mo Pac pfd 33 32% N Y Cent 25% 25 25-% 24% M Y New Haven . 2% 2% 2% 3 N Y Ont & West 4% 4% 4% 4% Nor Pacific 20% 20% 20% 20% Penn R R 29% 29 V* 29% 29 V* Reading 37% 37% 37% 38 Sou Pac 20% 20% 20% 20 7 / s Sou R R 10% 10% 10% 10% Union Pac 100% IOOVi 100% 100% West Maryland.. 8% 8% 8% 8% Equipments— Am Brake Shoe.. 40% 40% 40% 40% Am Car & Fdy.. 31% 30% 31% 31 Amer Loco ... 26'% 25% 26% 26% Am Steel Fdy.... 24% 24 24% 24% Bald Loco 4'% 3 % 4% 3Vi Gen Am Tk Car 44 Vi 43% 44% 44'% Gen Elec 39% 39% 39% 39% Gen R R Sig.... 38% 38'% 38% 38% Pullman Inc 38% 37 38 Vi 37 Vi West Air Br 34% 34 34% 33% Westingh Elec.. 96% 95Tg 96% 95% Utilities— Am & For Pwr . 7% 7% 7% 7% Am Power & Lit. 8% 8% 8% 8% AT&T 150% 150'% 150% 149% Am Wat Wks 21% 21 21 % 20% Col Gas & Elec.. 14% 14'% 14% 14% Com & Sou 2'% 2% 2% 2% Consol Gas ... 34% 33% 34% 33V2 Elec Pwr & Lit . 6 5% 6 5% Int Hydro Elec . 3'% 3% 3'% 3'% Int TANARUS& T 12'% 11% 12'% 11% Lou G & E “A” 21% 21% 21'% 21% Nat Pwr & Lit . 10% 10% 10% 10% North Amer .... 27% 27 27% 26% Pac G& E 29% 29 29% 29% Peoples Gas 38% 38% 38'% 38 Pub Serv NJ .. 46% 45% 461% 45% So Cal Edison .. 26Vi 26 26 25% Std Gas 5% 5% 5% 5% Stone & Webster 13% 12% 13% 12% United Corp 7 6% 6% 6% Un Gas Imp . 17% 17% 17% 17% Ut Pwr & Lit 'A' 3Vi 3% 3% 3'% Western Union . 76‘/a 75% 76% 75% Rubbers— Firestone 16% 16% 18% 16% Goodrich 11% 11% 11% 11% Goodyear 21% 21% 21% 21% U S Rubber . . 14% 141% 14% 13% U S Rubber pfd 4040 4040 Miscellaneous— Allis Chalmers . 35% 35% 35% 35% Am Can 143 % 143 143 Vi 143 Am Mach & Fdv 32% 32% 32% 32 Anchor Cap .. 15% 15% 15% 15% Brklyn Man Tr . 42 42 42 41% Buroughs Add . 27% 27% 27% 27% J I Case 109% 109 109’, 109", Conti Can . .... 97% 97 97% 98Vi Caterpillar Tract 59-% 59% 59% 58% Curtis Pub 20', 20 % 20% 20% Deere &Cos . ... 57% 57% 57% 57% Eastman Kodak 172% 172% 11Y% 172% Foster Wheeler . 21% 21% 21% 21% Gillette 18% 17% 17% 17% Glidden 43 42% 42'. 42% Ingersoll Rand .118% 118% 118% 118 Inter Harv 64% 64% 64% 64% Natl Cash Reg . 21% 21% 211* 21% Owens Bottle .123% 123 123', 123% Rem Rand .. 15% 15 15 15% Underwood E . 82 82 82 81% Worthington Pmp 23% 23% 23% 24% Fjods— Armour 4% 4% 4-% 4% Beatrice Creamy 18% 18', 18% 18% Borden Prod . .. 26% 26% 26% ->6% Cal Packing .. 37% 37% 37% 38 Can Dry G Ale . 13% 13% 13% 13% Cont Bak (Al 8% 8% 8% 8% Corn Prod ... 70% 70% 70% 70 * Crm of Wheat .. 37% 37% 37% 37% Cuban Am Sugar 6% 6% 6% 6% Gen Baking 12 12 12 11% Gen Foods 33% 33% 33% 33% Gold Dust 18% 18 18V 8 18 G W Sugar. 33% 33% 33% 33 Loose Wiles 40% 40% 40'. 04’. Natl Biscuit .... 35% 35% 35% 35% Natl D Prod 18% 18 18% 18% Local Securities (Because quotations on local securities are unlisted on an Exchange, The Times can not assume responsibility for the accuracy of these figures gathered from local brokers.) STOCKS Belt RR & Stk Yds com fo* £2% Belt RR & Stk Yds 6 r ;- pfd .. 52 Central Ind Pow 7% pfd .17 20 Home Tei&Tel Ft. Wn 7% pfd 50% 52 Hook Drug Inc com 14 15% Ind & Mich Elec 7% pfd 99 102 Ind General Service 87 91 Ind Hydro Electric 53 57 Indpls Chain Sto Term pfd .. 52% 62% Indpls Gas Cos com 38 Indpls Pow &Lt 6 pfd 82 85 Indpls Pow &Lt 6',% p fd ... 87 90 Indpls Water 5% pfd 102% North Ind Pub Svc 5%% pfd . 67 70 North Ind Pub Svc 6% pfd ... 76 80 Progress Laundrv com 6% Pub Svc of Ind 6% pfd 12 15 Uub Svc of Ind 6% pfd 13 16 So Ind Gas & E lec 6% pfd . . 91 94 Terre Haute Elec 6% pfd .... 79 83 Union Title com 18 20 BONDS Atlanta Dlstr Term 6% '4l ... 62% 70 Buffalo Distr Term 6% '4l .70 80 Brooklyn Postal Sta 5%% '4B 37% 42 Home Tel&Te’ FtW 5%% '35 .103 105 Home Tel&Te! FtW 6% '43 . 103 106 Indpls Railways Inc 5% '67 . 49 53 Indpls Water 4%% '4O .. 105 107 Indpls Water 5% 'SO & '6O 105 107 Indpls Water 5%% '53& 54 103% 105 Interstate T & T 5% % '53 ...91 93 Kokomo Water Works 'SB . 104 105% Lafavette Telephone 5% '57 102 Morris 5 & 10 Stores 5% 'SO 99 102 Muncie Water Works 5% '65 102% Noblesville HL&P 6% '47 95 97 Ohio Tel Service 6% '47 94 Richmond Water Works SG.’S? 104% 106 St. Louis Post Office 5%G> '3B 18 2.5 Seymour Wtr Ist mtg 5% '59 101 104 Terre Haute Water Wless% '56 101'% 103% Terre Haute Wat Wks 6". '49 103 105 Traction Terminal 5% '57 70 74

S Porto Rico Sug 27% 27% 27% 27% Std Brands 15 15 15 15 Ur. Biscuit 24 23% 23% 23% Utd Fruit 72 72 72 73% Retail Stores— Assd Dry Goods . 18’* 17% 18% 17% First Natl Stores 44% 44% 44% 44% Gimbel Bros .... 7% 7% 7% 7 Gr Un Tea ... 3% 3% 3■* 3% Allied Dept Sts.. 8% 8% 8% 8% Jewel Tea 55% 55% 55% 55% Kresge S S .... 27% 27% 27% 27% Kroger Groc ... 26% 26% 26% 26% Macy R.H 57% 56% 57% 55% McCrory St 12% 12% 13% 12 McLellan St ... 14% 13% 14% 14 Marshal! Field . 13% 13% 13% 13% May Dept St ... 56% 56% 56% 5G Mont War-i 39% 33% 39% 38% Natl Tea 9% 9% 9% 9 s * Penney J C 84 83% 84 83% Safeway St ... 34% 34 34% 34 Sears Roebuck .. 68% 67% 68% 67% Woolworth 58% 57% 58 59 Aviation — Aviation Corp .. 3% 3% 3% 3% Boeing Aircft .. 13% 13% 13% 13% Curtiss Wright.. 32% 2% 3 Curtiss Wr A'.. 8% 8% 8% 8% Douglas Air 33% 33% 33% 33% Nor Am Av .... 5% 5% 5% 5% Sperry Corp 12% 12% 12% 12% Uni Aircft New. 21% 21% 21% 20% Chemicals— Air Reduction ..171% 171% 171% 171% Allied Chem ... 167 166% 167 166 Am Com Alcohol 32 30% 32 30% Col Carbon .... 99 98% 99 98% Com Solvents .. 20% 20% 20% 20% Du Pont 145% 144% 145% 142% Freeport Tex ... 29% *29 29% 28% Liquid Carb 36% 35% 36 34% Math Alkali 32% 32% 32% 32% Monsanto Chem 94 93% 93', 94% Natl Dis (newi. 31% 30% 31% 30% Schenlev Dist . SI 3 * 49% 51% 50 Tex Gulf Sulph 31% 31% 31% 31% Union Carbide 74% 73% 74% 74 U S Ind Alcohol 49% 47 49V* 46% TV. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. Saturday 90.8 79.5 102.9 91.1 Week ago 90.6 78.3 102.7 90.5 Month ago .... 89.8 77.2 100.9 89.3 1935 high 90.8 86.4 102.9 91.1 1935 low 83.6 71.0 89.3 83.0 “New 1935 high. (Copyright, 1935. by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Prcv. Close. close. 4Vis 1947-52 115.4 115.5 4s 1944-54 110.20 110.23 3%S 1946-56 109.6 109 3 3%s 1940-43 107.8 107.8 3%s 1943-47 106.6 106.8 3%s 1941-43 107.7 107 9 3 Vis 1943-45 105.6 105.8 3;<s 1941 107.19 107.16 3Vis 1944-46 104.28 104.29 3%s 1945-49 103.18 103.20 3%S 1949-52 103.15 103.15 3s 1951-55 -’02.17 102 17 3s 1946-48 102.19 102.19 2%s 1955-60 , 100 99 31 2%s 1945-47 ...' 100.28 100.27 Home Owners Loan Corp. 2 3 is 1940 99.18 99.18 3s 1902 100.28 100.24 Federal Farm Mortgage Corp. WM 102.18 100.30 o!/ 194 i 9 n *„' 100.36 100.25 2%s 1949 100.4 100.5 DOMESTIC Prev. ... . ... Close, close. A eg Corp 5s '44 86 85 Alleg Corp 5s '49 78'V 79 Alleg Corp 5s 'SO 44 44 Am Frgn Pow 5s 2030 68 68". Am Tel & Tel sVis '43 .113% 113% Am Tel & Tel 5s ’65 113 113 Arm &Cos (Del) 5%s '43. 95% 95% Atl Coast Line 4s '52 95(4 95 Atl Coast Line 4Vis '64 80'- 80% Atch Top &S Fe 4',is '4B 108 " 108 Am Wat Wks 5s '44 111% 111 Am Rolling Mills 5s '3B 126 128% Balt & Ohio 5s ’95. 71 Vi 71% Balt & Ohio 6s ’95 81% 82 Balt & Ohio 4Vis ’6O 56% 57% Buff Roch & Pitt 4%s ’57 64% 63 Ch; Milw &StP 5s ’75 11'/, jj'/i Chi Milw & St P 5s 2000 4% 414 Cjeve Un Term 5s '73 9914 991% Cleve Un Term 4%s ’77 91% 91% Col Gas 5s May '52 98% 98% Col Gas 5s April '52 99 991/2 Col Gas 5s '6l 97s r Can Pac Perp 4s 84% 84% Cent Pac 5s %60 84 H 84% Big Four 4Vis '77 74% 74% Big Four 5s '63 8 2 g 2 Colorado &So 4Vis 'BO 51 51% Chi & West Ind 4s '52 98% 98’* Chi & Nor West 4%s '49 9% 9% Con Gas 5s '57 1051/f 105% Chesa Corp 5s '47 116% 117% Del & Huds 4s ’43 .... 74% 75 N Y Dock 4s ’sl 66% 67% N Y Dock 5s ’3B 5314 531* Erie 5s ’75 66 i4 66 i4 Erie 5s 67 6(5?% 66 ! j Gen Cable sVis ’47 100 99% Grt Northern 7s ’36 102 102 Grt Northern 4',is '76 93% 93% Grt Northern 4%s '77 93 92% gen Stl Cast W W s',is ’49.. 84 83% Hud & Manhat Ref 5s ’57 ... 80 79% 111 Cent 4%s ’66 52% 53Vi I Cent Jt 4%s ’63 56 55 111 Cent 5s ’63 60% 60% Interlake C & I 5s 'sl 85 84% Interntl Hv Elec 6s '44 46% 4"% Interntl Tel & Tel 4Vis ’39 81% 8 % Interntl Tel & Tel 5s '55 73% 7 Interntl Tel & Tel 4'/is ’52 ... 69% 6 L McKess & Rob 5%s ’SO 102% 1C I Natl Dairv sVis '4B .103% 1C 1 Natl Steel 5s '56 105% 1( I Nickel Plate 4% s ’7B 63% ( I Nickel Plate 5 Vis ’74 74% ’ I Nickel Plate 6s ’35 82% ) I N Y Cent 5s 2013 75% • I N Y Cent 4Vis 2013 (old) ... 70% ' I Nor Amer Cos 5s ’6l 104 1 I Nor Pac 3s 2047 72 K Nor Pac 6s 2047 102 1 r Otis Steel 6s ’4l 100% 1 J% Pen Rv 4'4s ’B4 104 l4Vi Penn Rv 4%s ’Bl 104 104 Penn Rv 4%s ’7O .. 97% 97% Pac G & E 5s '42 106 105% Portland Gen El 4%s '6O 74% 74% Para Publix 5%s 'SO 93 93% Penn P & L 4%s ’Bl 105% 106% Postal Tel & Cab 5s ’53 35% 35% Rem Rand WW sVis '47 104% 104'% Shell Union Oil 5s ’47 103% 104 Sou Pac 4%S ’6B 74 7414 Sou Pac 4Vis ’Bl 74 73% Sou Pac 4%s '69 74% 74% Sou Pac 4s '49 78% 78% Sou Rail 4s ’56 46% 45 Sou Rail 6s '56 59 57 Sou Rail 6%s ’56 69% 59% Sharon Stl Hoop 5%s ’4B ....102% 102% Texas Pac 5s 'BO 91 90 Texas Pac 5s ’79 91 91 Texas Pac 5s ’77 91% 91 Union Pac 4s '47 Ill'* 111% United Drug 5s '53 93% 93% U S Rubber 5s ’47 100% 100% NY NH & Kart 6s ’4B 26% 27'/* NY NH & Hart 4%s ’67 25% 25 Warner Bros 6s '39 88% 89% Western Mary 5%s ’77 . 105 105 Western Mary 4s ’52 95 95% Youngstown S &T 5s ’7O 101 % 101 Youngstown S & T 5s '7B 101 100% FOREIGN Argentina A 6s '57 98 98 Argentine B 6s 'SB 98 98V's Brazil 8s ’4l 27 27 Canadian Govt 4s ’6O 106% 106% Denmark 5%s ’55 100'* 100% German 5%s 65 30% 30% German 7s ’49 38 35 % Italy 7s ’sl 59% 61% Japan 6%s ’54 . 98% 95% Poland 7s 47 103 103% Rome 6%s ’52 .. 51% 53 Tokio City sVis ’6l 81% 81% Yokohama 6s ’6l 85% 86

BROOKMIFIE INCOMF

Drags— Bristol Myers .. 41 40% 40% 41 Cotv Inc 5% 5% J% 5% Lambert 23% 23% 23", 23% Sterling Prod . 66% 66% 66% 66% Un Drug inewi. 10% 10% * 10% 10% Vick Chem 42% 42% 42% 43 Zonite Prod .... 5% 5% 5% 5% Financial— Adams Exp 9% 9% 9% 9% Allegheny Corp.. 2% 2% 2% 2% Am Int Corp ... 10% 10% 10% 10% Chesa Corp .... 56 56 56 55% Lehman Corp .. 95 95 95 95% Transamerica .. 12% 12% 12% 12% Tr Conti Corp .. 7% 7% 7% 7% Building— Am Radiator ... 21% 21% 21% 21 Gen As '-alt . 21% 21% 21% 21 Holland Furnace 25 24% 25 24% Int Cement . 35% 35% 35% 35% Johns Manville . 97% 97% 97% 97% Libby Owens Gls 45% 45% 45% 46 Otis Kiev 22% 22% 22% 22 U S Gypsum ... 85% 85% 85% 84% Ulen Cons 3% 3% 3% 3% Household— Col Pal Peet ... 17% 17% 17% 17% Congoleum 45% 44 45% 43% Kelvinator 15 15 15 14% Mohawk Carpet. 20% 20% 20% 20% Pro: & Gamble. 47% 47% 47% 47 Servel Inc 13% 13 13% 12% Simmons Bed .. 18% 18% 18% 18% Textiles— Amer Woolen .. 10% 10% 10% 10% Celanese Corp .. 29% 28% 29% 28% Collins Aikman. 38% 37% 38% 38% Gotham Hose 9 9 9 8% Indus Rayon ... 31% 31% 31% 31 Chicago Stocks ißv Abbott, Proctor & Paine) 11:30 Prev. A. M. close. Berghoff 6% 6% Butler 8% 8% A. M. Castle 41% 41 1 . Chicago Corp 4% 4% Conti Steel ". 39 38 Cities Service 2% 2% Cord 4Vi 4% Crane 1 21% 21% Elec House 18% 18% Gen House .’ 33 Grt Lakes 27% 27% Iron Firemen 2S 1 * 26 Libby . .* 9% 9% Lynch Glass S7V* 37 Noblitt Sparks .' 32 32Vi Swift 19% 19'4 Swift Int '.... 30% 30% New York Curb (By Abbott, Proctor & Paine) 12 (noon) Prev. N. Y. Close Alumn Cos of Am 94 93 Am Cyanide • B’’ 29'/8 27% Am Superpower 2% 2% Art Metal 11% iHi Atlas Corp 13% 13'> Can Indus Ale "A" n% 12% Carier Corp 10 10% Distillers Corp 36V4 36'* El Bond & Share 16% 16% Fisk Rubber 6% 6% Ford of Can “A" 27 27% Ford of Europe 8% 8% Hiram Walker 33% 33", Imperial Oil Ltd 21% 21% Lake Shore Min 50 50% Libby McN Libby 91* 9% Newmont Min 64% 65 Nia Hud Pwr 9% 9% Pan-Amer Airways 41% 41% Penn Road 4 4'% Sherwin Wms 128 128 Sonotone 2% 2% Wright Hargraves Min 7% 7',, Dividends Declared Dividend rates are given in dollars and cents unless stated otherwise. Company— Rate Per'd Payable close Adams Ex 5% p. 1.25 Q Dec. 31 Dec. 17 Am Lt & Trac.. .30 .. Feb. 1 Jan 15 Humble Oil & McCahan Sugar Rfg & Mol p .1,75 Q Dec. 2 Nov 20 Neisner Bros .25 Q Dec. 14 Nov. 30 aßkln & Queens S6 p • -75 . Jan. 2 Dec. 16 bduPont de Nem .90 Q Dec. 14 Nov 27 Int Corp of Phila .50 Q Dec,. 14 Dec 2 Int Corn of Phila .25 ex Dec. 14 Dec' 2 Lake Sh Mines.. .50 Q Dec. 16 Dec 2 Lake Sh Mines .50 ex Dec. 16 Dec 2 cMitten Bk & Tr of Phila .60 Dec. 16 Nov 30 dßapid Electrotp .80 Q Dec. 15 Dec 1 Wright Hargreaves .Mines .10 Q Jan. 2 Dec. 10 Wright Hargreaves Mj n ?f .05 ex Jan. 2 Dec. 10 aPaid 50 cents in orevious quarter bAlso declared l-55th of share of General Motors common on each share of common stock held, payable December 27 to stock of record November 27. cFirst payment since. January 1930 when a dividend of $2.50 was paid'. dSixty cents was paid in preceding quarter. b Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS _ . Di 4. Ask. Bankers 64% 66'/Central Hanover B & T 127% 129'Chase 36 37% Chemical National 55 56% Guaranty 297 299 £ vln *, 15% 17% Manufacturers 37 7 R 391/ National City 32% 33% Cont 111 (Chicago 93% 951First Natl of Boston 43 45 FIRE INSURANCE Aetna Fire 553* 57% City of New York (new) 27% 29'* Federal Ins 79% Great American Ins 26% 28'Hanover Fire Ins 36% 38'/* Hartford Fire Ins 78 80 Home Insurance 34% 36'/. Ins Cos of N A 70'/ 4 72% National Fire 71 73 North River Insurance 26% 27% Phoenix Insurance 89'/ 4 91% V S Fire 53% 55"* Manchester Fire 34% 36% Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,274,000 Debits 6,260,000 TREASURY STATEMENT (By United Pressi WASHINGTON. Nov. 19.—Government expenses and receipts for the current, fiscal year to Nov. 16 as compared with a vear ago: This Year. Last Year. Expenses. $2,948,059,566.02 $2,631,074,257 79 Receipts.. 1,382.619.481.65 1,380 177 512 21 Deficit. . 1.565.440.084.37 1.250.896,745.58 Cash bal.. 1.441,084,112.67 1.673,757.995.93 CHICAGO FCTI'RES RANGE (By James E. Bennett & Cos.) 11:30 Prev. Wheat— High. Low. A. M. Close. Dec 97%, .96', .97% .96% May 97% .96% .97 .96% •Juiy 90% .89% .90% .90 Corn— Dec. 61% ,59% .61 .60 May 60% ,59 s * .60% .59% July 61% .60% .61% .60% Oats Dec 27% .26% .27% 27 May 28% .28% .28% .28% Rye— Dec 49%, .49 .49% 4911 May 51% .51% .51% '.51%

PAGE 13

BEGIN DRAFTING OF NEW CORN, HOG PROGRAM Production, Consumption Balance Sought in Contract for 1936-37. By United Press LAFAYETTE. Nov. 19. —A balance I between production and consump--1 tion of corn and hogs during the I next two years was sought today as state agricultural specialists and AAA officials began preliminary ! work of drafting Indiana's cornhog contract for 1936-37. To maintain this required balance | the new contract must prevent an j excessive production of corn in 193637; allow an increase in next year's | pig crop that would be at least as great as would take place were no adjustment program in effect, and curtail the production of hogs in 1937. it was pointed out by L. E. Hoffman, educational director of the AAA in Indiana. Tentative plans submitted by the Adjustment Administration would limit corn production next year to 95.000,000 acres, 10 million fewer acres than normally would be harvested. Such a program would require an aggregate adjustment of approximately 20 per cent on the part of all contract signers. 25 Per Cent Redaction Proposed A maximum aggregate coni reduction of 25 per cent has been proposed for 1937. contingent upon the 1936 crop and the demand expected for the 1937 crop. An increase of 30 per cent in Federally-inspected slaughter in 1936-37 above that expected in the present marketing year is being considered under the proposed hog adjustments for the next two years. Officials expect to obtain the desired hog increase for 1936 by permitting production equal to 100 per cent of the base. Because of the major adjustment program of preventing excessive production of hogs in 1937 a twoyear contract was necessary, AAA officials pointed out. They believed such a contract would be welcomed by farmers since it would enable them to plan their operations more ! than one year in advance. A provision to require that an area equal to the number of acres held out of corn be added to the usual area of the farm dc § ,ed to soil improvement and erosion cure may be included in the new cornhog contract, it was said. Local Livestock HOGS Nov. Bulk. Top. Receipts. 13. $9.40*7 9.50 $9.50 6000 14. 9.40*t( 9.55 9.55 4000 13. 9.50*71 9.60 9.70 4000 16. 9.60*71 9.80 9.65 1500 18. 9.45® 9.65 9.65 7000 19. 9.60® 9.75 9.75 6000 Light Lights. . (140-160' Good and choice... $9.35® 9.65 Medium .* 8.85® 9.35 Lightweights. (160-180) Good and choice .. 9.65® 9.75 Medium 9.10® 9.60 (180-200) Good and choice .. 9.65® 9.75 Medium 9.15® 9.65 Medimum Weights. (200-220) Good and choice... 9.60® 9.65 (220-2501 Good and choice... 9.50® 9.65 Heavyweights. (250-290) Good and choice... 9.40® 9.55 (290-3501 Good and choice... 9.10® 9.40 Packing Sows. (275-350) Good 3.50® 9.00 (350-425) Good 8.25*7: 8.75 1425-450) Good 8.00®: 8.50 (275-450) Medium 7.85® 8.35 Slaughter Pigs. (100-140) Good and choice... 9.00® 9.35 Medium 8.25® 9.25 CATTLE —Receipts. 1600— (500-900) Choice $lO 0077711.25 Good 8.50® 10.50 Medium 6.50® 8.50 Common 4.50® 6.50 (900-11001 Choice 11.00*712.00 Good 8.75® 11.25 Medium 6.75® 8.75 Common ■ 5.00®1 6.75 (1100-1300) Choice 11.25WT2.50 Gbod 9.00®11.25 Medium 7.00® 9.00 (1300-1500) Choice 11.50® 12.50 Good [email protected] Heifers (500-750) Choice $9 00®10.25 Good 7.50® 9.00 Common and medium 4.25®' 7.50 (750-900) Good and choice ... B.oo® 10.50 Common and medium 4.25® 8.00 Cows Good 5 00® 6.00 Common and medium 4.00® 5.00 Low cutter and cutter 3.00® 4.00 Bulls, good 5.50® 6 00 Cutter, com. and med. bulls... 4.00® 5.50 VEALERS —Receipts, 600— Good and choice $10.50® 11.00 Medium 8.50® 10.50 Full and common 4.50®> 8.50 Calves (250-500) Good and choice ... 7 00® 9.50 Common and medium 4.00@ 7.00 Feeder and Stocker Cattle (500-8001 Good and choice 6.50® 8.25 Common and medium ... 4.25® 6.50 (800-1050 t Good and choice .. 6.50® 8.50 Common and medium 4.25® 6.50 Cows Good 5.00® 6.50 Common and medium 4.00® 5.00 SHEEP AND LAMBS —Receipts, 3000— Lambs. 90 lbs. down, good and choice $9.750 10 *0 Medium B.oo® 9 i9O-125! Good and choice . . 4.00® 5.00 All weights, common and mediun* 3.50® 4.5(7 (120-150! Good and choice . 3.00® 400

Increase in Rubber Consumption 13,436 loan tons of crude rubber were consumed by manufacturers in the United States in October compared to 37.333 lonej tons in September, accordin'/ to the Rubber Manufacturers Association.

New Business Books Available at Library The following new business books are now available at the business branch of the Indianapolis Public Library: INDUSTRIAL GERMANY, bv Hermann Levy. A study cf Germany's monopoly organizations and their control by the state. ADVERTISING LAYOUT AND TYPOGRAPHY, bv Lugene de Lopaterka. "A qvi'ck. easy technique for every one who prepares advertising, with simple methods for choosing and calculating type." SECRETARIAL PRACTICE. by Charles F. Hainfeld. Today business men arc demanding that their secretaries and other office assistants be trained prior to assuming their duties." FRANCE'S CRISIS, by Paul Ein7ig. It is generally recognized that France has reached a cross-roads in her history." BEHIND THE SCN’I S OF Bl SINESS, bv Rov a. Foalke. Important balance sheets and operating ratios in 49 lines of business. COST ACCOUNTING, bv James L. Dohr. Second revised edition.

SWINE VALUES MOVE UPWARD Prices Generally 10 Cents Higher Despite Heavy Receipts. Despite a continued heavy run of receipts on hand today at the Indianapolis Union Stockyards, a strong undertone developed in the hog market and prices were generally 10 cents higher than yesterday's weak average. Underweights, however, remained mostly steady, with packing sows sharply higher. The moderate increase in prices came in face of an extremely neavy I supply of hogs, totaling 6000. This ! compares with 7000 available at the local exchange yesterday. Initial trading centered mostly in the medium weights, and a fairly strong demand prevailed. Holdovers numbered only 128. Bulk of 160 to 235 pounds, cashed in at $9.60 to $9.75. while heavier kinds, weighing from 235 to 300 pounds, brought $9.40 to $9.55. Heavy butcher classes, scaling from 300 pounds and upward, sold at $9.10 to $9.30. Light slaughter pigs, from 100 to 160 pounds, held at $9 to $9.50. Packing sows sold at $8 to $8.75, with a few holding at $9. Trading was somewhat irregular in the cattle market. Better grade steers and most heifers were steady, while lower grade steers were tending slightly lower. Few loads of steers brought $lO to $12.25. Heifers were valued to sell uncVer SB. Bulls held at $6 down. Receipts numbered 1600. Vealers were sharply 50 cents higher, with the bulk of good and choice grades selling at $10.50 to sll. Receipts were 600. With a liberal supply on hand, lambs remained unchanged. The bulk of better grade native and ewe and wether classes sold from $9.75 to $10.50. Fed Westerns brought $10.50. while Western yearlings sold at $8.65. Slaughter sheep ranged from $3 to $5. Receipts were 3000. Other Livestock (Bv United Press) CHICAGO. Nov. 19. —Hogs—Receipts. 22,(100. incuding: 8000 directs: mostly 5® 10c lower: sows steady: top. $9.60: bulk. 170280 lbs.. $9.45*7 9.55: 290-350 lbs.. $9.15*7 9.50; most 140-160 lbs., s9*7 9.45; best sows. SB9O. Cattle —Receipts. 7000; calves. 1500: choice weighty steers scarce and firm; liberal supply well-finished yearlings and light steers steady to 25c lower; all lower grades very slow: best yearlings. $13.25: light offerings. $12.25; best weighty steers held around $13.25; most vearlings here of value to sell at sll. upward: common and I medium grades all weights. $lO down to $7; | Stockers and feeders, $7.75 down to $6: I steady to 25c lower than late last week: all ! she stock fully steady. Sheep—Receipts. 7000: fat lambs fairly active; early bids and sales mostly steady: sheep and feeding lambs firm; good to choice natives and comebacks, $10.50; best held. $10.65*710.75 and above; native ewes. $4*7,5; few rather plain feeding lambs, $9. FORT WAYNE. Nov. 19—Hogs steady; 160-180 lbs.. 59.50; 180-200 lbs.. $9.45; 200220 lbs.. $9.40; 220-240 lbs.. $9.30; 240-280 lbs., $9.20; 280-300 lbs.. $9.15: 300-350 lbs.. $9: 140-160 lbs.. $9.25; 120-140 lbs.. $9: 100-120 lbs.. $8.75: roughs, $8; stags, $6.25 Calves, sll. Lambs, $lO. LAFAYETTE, Nov. 19— Hogs—Market, steady to 15c higher; 160-200 lbs.. $9.55® 9.65: 200-235 lbs.. $9.35®3.45; 235-260 lbs., $9.25*19.30; 260-300 lbs.. S9 15® 9.20; 300325 lbs.. $9; 100-160 lbs. $8.75®9.25; roughs, $8.50 down. Calves, $lO down. Lambs $9.50 down. (Bv Times Special! LOUISVILLE. Nov 19 —Cattle—Receipts. ! 400; salable supply slaughter cattle light; ! run mostly plainer grade cows; bulk com- | mon to medium light steers and heifers. ! $5.50®7.50; very little on hand of quality! to sell above SB. but good kinds quotable somewhat higher: bulk beef cows. $4.25® 5.25: smooth heifer type cows quotable to around $5 75: most low cutters and cutter cows. $3.25® 4; sausage bulls considered salable mostly ss*7 5.75: real light Jerseys down to $4.50 or less; stocker trade slow: about steadv with Monday's decline. Calves—Receipts. 300, including 150 stoex calves: market steady: bulk better vealers. s9*7 9.50; strictly choice handyweights. $10; medium and lower grades. $8 down to around $4. Hogs—Receipts, 700; market not fully established: some sales reported 10c higher at $9.60 for better 180-240-lb. ; weights: others unsold. Sheep—Receipts. ! 100. lambs very scarce: market quotable i strong to 50c higher on the basis of late | sales Monday; most better lambs salable s9*7 9.50: choice eligible around $10; plainer grade lambs, including bucks, mostly s6*7 8.50i bulk fat ewes. $3.50 down. LOCAL CASH MARKET City grain elevators are paying 88 cents for No. 2 soft wheat. Other grades on i their merits. Cash corn new No 4 yellow 49 cents and oats 19 cents

ATTACKS LACK OF PROTECTION TO CONSUMER Interstate Compact Has No •Channels of Protest.’ Is Charge. BV DANIEL M. KIDNEY Staff Writer WASHINGTON. Nov. 19 —Lack of “channels of protest” for consumers against possible price-fixing under the Interstate Compact Act of 1935, designed to conserve oil and gas supplies, was attacked today by the Consumers Division of NRA. In The Consumer, official publication of the division, the oil act was contrasted with the Guffey Coal Stabilization Act. with its provisions for a consumers’ counsel and for hearing of protests. The oil law. it was declared, simply extended without consumer consideration the control already exercised by oil producing states. “And the consumer pays the bill without even channels of protests.” the publication commented. “Privately he is taxed without rep- | rosentation—a situation against which Americans at certain periods of our history have been known to protest.” No Labor Provision The act. it was asserted, contains “no provision at all to encourage low cost production in any way. There are not even labor provisions.” The consumers’ interest “is remembered only insofar as the oil reserves are ‘being conserved’ for his future use—without reference to future price—and his protests are, as far as the formal hearings go. irrelevant. “The device for keeping price up being what it is, the consumer is licked from the start, even if he had a representative. “The administrative agency—a coordinating group to work with the various oil state regulatory bodies—itself does not give fair representation. “Only oil producing states are represented and consumers in the 30odd states which buy oil. having no production of their own. would be without voice even if consumers in i oil states could make their importance felt by their state commissions.” FROZEN PRODUCTS CO. ACQUIRES NEW SPACE Firm Invests 550.000 in Equipment for New Quarters. The frozen Products Cos. has ! leased approximately 10,000 square feet of space in the industrial building at 601 Fulton-st, W. A. Brennan, ! Inc., real estate dealers, announced ! today. Owners of the building, which extends from North to Wal-nut-sts, are the James Realty Cos. I. C. Engleman. president of the Frozen Products Cos. announced that the firm has invested $50,000 in new equipment to be installed in the building. As soon as installation of the new equipment is completed the company will move from its old quarters at 623 North East-st. The firm specializes in the manufacture of ice cream novelties. The company expects to open in its new location about the first of the year. SELLS REAL ESTATE Nine Residences and Three Lots Included in Sale. Nine residences and three lots were reported sold today by North Side realtors. Joseph J. Argus sold houses at 5893 N. Delaware-st. 42 Meridian-pl, 614 E. 47th-st and 5301 Central-av. Other residences sold were at 3265 N. New Jersey-st, 318 E. 64th-st, 1235 N. New Jersey-st, 639 W. 30thI st and 624 N. Denny-st. Two lots were sold on Park-av north of 61st-st and a third lot sold at the corner of Boulevard-pi and Blue Ridge-rd.

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