Indianapolis Times, Volume 47, Number 220, Indianapolis, Marion County, 22 November 1935 — Page 38

Trends Government Keeps Two Sets of Books. BY JOHN T. FLYNN

NEW YORK, Nov. 22.—Because we are Retting budget conscious and because our politicians are preparing to put the budget on the soapbox and the radio in the next campaign. I have been from time to time attempting to make a simple statement of our Uncle Sam's bookkeeping for the benefit

of the wayfaring citizen. The fiscal year 1935-36 began July 1. Four months of that year have expired. How has the government been making out as a going business concern? It may be recalled that the g o v e r n m ent bookkeeper

John Flynn

keeps two sets of books—one for the government's ordinary expenditures. one for recovery and emergency expenditure. The budget Is, of course, always out of balance. Rut this is blamed on the heavy recovery casts. This, however, is not true. If not one dollar had been spent on emergency and recovery costs this fiscal year so far, the budget would be well out of balance. a o a T ET us see how we have been doing this year compared with last year in the ordinary expenses of the government —with all the extraordinary expenditures left out. Here Is a comparison of our ordinary government costs in each month of this year: U)34 1935-36 July $230 394.991 S3BO 149,350 Any 204 1 16.852 233 275.452 Rep) 232,675,909 336.378.983 October 474.687.598 510.837,952 Total $1,141,875,350 $1,460,641,731 Now -it is plain from this that the ordinary expenses of the government have been larger every month this year thus far than in the same months last year. For the four months they have been over $300,000,000 more than last year. While the ordinary costs of the governments have been $1,460,641,737, the receipts of the government have been §1,233,899,000. Therefore the budget has been out of balance, even without any of our emergency costs, to the tune of around $227,000,000. This is re illy a very serious matter. a a tt THE Treasury may answer that this has been due to the suits attacking the processing tax. This means that there is due the government in these taxes about $120,000,000, payment of which has been held up, and if these taxes were paid the situation would be better. That is true, but the budget would still show a deficit. But on the other hand the Treasury would have to concede that a large volume—several hundred million dollars, in fact—is carried among the emergency expenses which ought properly to be allocated to ordinary expenses and have alw'ays heretofore been so carried. Os course, we have no right to assume that tax collections and expenditures will continue at the same rate in future months. But if they do. the budget most certainly will be out of balance. Now for the emergency budget. That, has been a little less than in the same months last year -$1,166,507.000 last year and $1,106,000 this year. When we add emergency and ordinary budgets together, then we have a total budget deficit this year of $1,333,508,737, compared with $1,040,240,00 last year—a deficit for the four months of about $307,000,000 more than last year. (Copyright. 1935, NEA Service. Inc.)

DETROIT CALLS BONDS $4,569.000 Water Refunding Issues to Re Redeemed, Report Says. Time* Special DETROIT. Nov. 22.—VV. J. Curran, controller of Detroit, announced today that the city has called for redemption of $4,569,000 water refunding bonds. The issues to be redeemed comprise $3,700,000 4 per cent water refunding bonds, Series "C,” due Aug. 1. 1962. which have been called for redemption Feb. 1, 1936; $119,000 4’j per cent water refunding bonds. Series “A,” due March 1, 1963. to be redeemed March 1. 1963. and $750,000 4'i per cent water refunding bonds. Series “A.” due March 15. 1963. to be redeemed March 15. 1936. On Commission Row Quotations below subject to change are average wholesale prices being offered to buyers by local commission dealers: Fruit—Cranberries, earlv blacks. 25-!b. box. $4 Pears Michigan Rartletts. bushel. $2; Avocados. Florida, box. $2.50. Cantaloupe—California Honcv Dews $2; Casabas. $2 25. Persians. $2 25 Bananas —7 hands, a pound. s' 2 c. Persimmons—lndiana 12-qt. case St. Apples—lndiana Jonathans. $1.25@135. Summer Rambos. SI: Delicious. $1 25 u 1.50 Weaithvs. $1 Grimes Golden. $1,35 Lemons—Sunkist, 3 60s $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—Bears green, re nd stringless on., $2.25. Beets—Home c~ wn. dor . 25c. Cabbage—Northern Danish. 20-ih bag. 75c Carrots—Home grown. 35c; new bulk! half bu.. 60c. Cauliflower —Michigan, crate $1 50: Long Island, large crate. St 50, Celery—Michigan, washed and trimmed, extra large. 45c: Jumbo, doz., 75c Cucumbers—Southern bu.. $4; doz 65c. Kale—Home grown, bu.. 60c Lettuce—lceberg. California, best. $4.75: home grown leaf 15-lb basket, $1 Endive—Ohio basket, 60c. Mangoes—California crate $3.50; small basket. 40c Mint—Bunch. 15c. Mustard—Home grown, bu., 60c. Onior"—lndiana vellow 50-lb. bag $1; Indiana yellow. 10-lb bag, 22c; western Spanish. 50-lb. bag, $1 65. Parsley—Heme grown, doz 35c. Peas—Telephone, hampers, $3. Potatoes—Round Cobblers, 100 -lb bag $1 65. Michigan Round White. IQO-ic bag $1 50. Early Ohios. bu., $165: Idaho Russets. $2 30. Sweet potatoes—lndiana Jerseys bu . $1 65. Radishes—Ohio, button. doz baskets. 45c Sage—Dog. 45c. Spinach-Broad leaf. bu. 75c Squash— Bu $1 50 Tomatoes—California, repacsed, 10-lb. carton. $125. Produce Markets The prices quoted below are paid for stock gathered in the countrv, while delivered in Indianapolis the price will be a cent higher. Heavv breed hens. 17c; Leghorn breed hens. 12c: springers, over 4' 2 lbs. 17V. under 4 1 a lbs. 16c, old cocks. 9c Leghorn springers, V 2 lbs. and up. !2c Turkevs— Young hens 8 lbs and up 20c toms 13 to 18 lbs 20c over 18 lbs 19c old toms. 15c. Ducks—White 4‘- lbs. and up. 11c geese. 10 lbs., full leathered and fat 10c; old guineas. 15c; voung "uineas l'j lbs and up 25c. No 1 atricnv fresh eggs loss off 28c; pullet eggs. 18c Each full case must weigh 55 lbs gross, a deduction of 10c a pound under 55 lbs. will be made. No. 1 butter. 35' 2 @36' 2 c, No. 2. JlSanvjc; butterlat, 31c. Quoted by the Wadley Cos.

PAGE 38

GOLD FLOW TO ONITEO STATES GETS ATTENTION Weakness in World Money Sends Stock of Metal to New High. BY RICHARD L. GRIDLEY l nited Press Staff Correspondent WASHINGTON, Nov. 22.—New flurries in the world monetary markets which threaten to send another flood of foreign gold into the United States were watched closely today by Administration officials. Weakness in foreign currency quotations, particularly those of French and Dutch money, not only is driving needed monetary gold from abroad but is swelling American gold stocks and build a possible larger base for domestic credit inflation. Administration fiscal authorities continued to maintain a strict silence today on the monetary and credit situation but their concern over possible uncontrolled credit inflation was found in the fact that the Federal Reserve Board and its advisory council have spent many hours discussing the subject. Excess Hits Record Peak The board reported today that excess reserves of its member banks had increased to another record peak of $3,070,000,000, at which level they furnish the base for a possible credit expansion of $30,700,000,000. A large factor in the swelling excess reserves was found in the unwanted gold flow to this country which carried gold stocks to another ail-time record of $9,804,000,000 early this week. Selling flurries in foreign currencies yesterday threatened to send millions of dollars more gold to the United States and it was possible that the American hoard might reach the $10,000,000,000 mark by the end of the year. This would comprise nearly half the world's stocks of the monetary metal. Continued drainage of world gold to the United States, which can not be checked by this government, has increased the possibility of pushing other gold standard countries off the gold basis and forcing them to devalue their currencies like the United States did nearly two years ago. Want France on Gold Standard Treasury offiicals, however, are believed to be anxious to keep France and other gold-bloc nations on the gold standard because if they devalued they might remove the foreign trade benefits accruing to the United States. In some quarters it was believed today that the United States Treasury was ready again to rescue the French franc should help be needed. It was recalled that last spring ? selling flurry in French money w-hich threatened to send that country off the gold standard was nipped by a helping hand extended by Secretary of Treasury Henry Morgenthau Jr. At that time Morgenthau supplied the French with enough dollars in Paris to support the French franc when the French could not ship gold fast enough to the United States to obtain the necessary dollars.

ENGINEERS STUDY HUGE GRAND RIVER PROJECT Oklahoma Proposes $16,000,000 Hydro-Electric Plant. By United Press WASHINGTON. Nov. 22.—Engineers of the public works power board today started final study of Oklahoma’s proposed $16,000,000 Grand River hydro-electric project after receiving recommendations from Phillip S. Donnell, state PWA director. While Mr. Donnell’s decision was not announced, it was learned he made a “yes-or-no” recommendation. It also was revealed that Mr. Donnell's report demanded elimination of the so-called “Kirkpatrick” amendment limiting sale of Grand River power to the project site. After power engineers have made their decision, they will submit the project application to Administrator Harold L. Ickes for final action. Ickes has said that, if the project is approved, he doubted if PWA would have $16,000,000 available for the construction allotment. Engineers expected to take several weeks drafting their report.

EXPORTS OF BRAZIL COTTON UP SHARPLY Increase of 52 Per Cent Shown for First 10 Months. By United Press WASHINGTON. Nov. 22.—Increasing competition of Brazilian cotton with American cotton in world markets was revealed in Department of Commerce figures today showing an increase of 52 per cent in cotton exports in the first 10 months of this year by Brazil. The department reported Brazilian cotton exports in this period at 95.511 metric tons. Germany took 60 per cent of the value of the exports; Great Britain 17 per cent and France 9 per cent.

Busigraphs

GASOLINE CONSUMED (u. S. DEPT. OF COMMERCE) eo-i dotted uve rs the past * TEN YEARS AVERAGE OF T* THE SAME MONTHS f i I 0< OND L ’93* I A S ° THE PARKER CORD. GENERA!. DISTRIBUTORS INCORPORATED INVESTORS

Anew record was set for gasoline consumption in the first 10 months of this year, which passed the same 1934 months by 6 per cent, and exceeded by 25 per cent the last 10year average.

Abreast of The Times on Finance

New York Stock Exchange Prices

‘.By Thomson & McKinnon) 11:15 A M. Prey High Low N. Y. Close Oil*— Amerada 74% 74% 74 1 = 74% Atl Rfg 24% 24 1 2 24 1 2 24% Barnsdall 12% 12% 12% 12% Consol Oil 9% 9% 9% 9% Com Os Del ... 28 1 2 27% 27% 27% Houston inewi .. 4% 4% 4% 4% Mid Com Pet .. 17 16% 16% 17 Ohio Oil 11% IP's IP, lP g Phillips Pet .... 36% 36% 36% 36% Pure Oil ... 13* 13> 13* * P's Seaboard Oil ... 32 32 32 31'2 Shell Un 14’, 14 3 4 14*4 14% Skellev Oil 18% 16% 16% 16% Soc Vac P's 13 13% 13 SO of Cal 37% 37% 37% 37'4 S O of Ind ... 28'4 28>s 28' 4 28 : a BOOf N J .. 49> 2 49 1 b 49 1 a 49% Texas Corp . . 24*4 24% 24 s a 24% Tidewater Assn. 12% 12*4 12'% 12'4 Un Oil of Cal... 20'2 20% 20 1 2 20', 2 Steels— Am Roil Mills.. 32 31 *2 31*2 3PI Beth Steel .. .. 51% 50% 50% 51% Byers AM 20 19% 19% 19% Cruc S'eel . . 25% 25'? 25% 28 Ludlum Steel .. 24% 24 1 2 24% 24% Mid Steel 23% 23% 23% 24% Natl Steel 82% 82% 82% 82 Otis Steel . 16% 16% 16% 16% Rep Iron At Stl 20% 20% 20% 20% U S Pipe & Fdy 21% 21% 21% 21% U S Seel ... 50% 49% 49% 50 U S Steel pfd ..118% 118% 118% 118% Warren Bros . 5% 5 5% 4% Younst.n S & T.. 35% 34% 35% 35% Motors— Auburn 36 36 36 35% Chrysler 87 86% 86% 87% Gen Motors .... 58% 57% 58 58% Graham Mot 3% 33% 3 Hudson 15% 15% 15% 15% Hupp 2% 2% 2% 2% Mack Truck 25% 25% 25% 25% Nash 17% 17 17% 17 Packard 6% 6% 6% 6% Reo 4 4 4 4 Studebaker 8% 8% 8% 7% Yellow Truck ... 8% 8% 8% 8% Motor Access— Bendix 22 21% 21% 21% Bohn Alum ... 52% 52% 52% 52 Borg Warner 63 62% 62% 63 Briggs 53% 53% 53% 53 Budd Mfg 9% 9% 9% 9% Budd Wheel .... 14% 14 14% 14 Eaton Mfg 28% 28% 28% 28% Elec Auto Lite .. 36 35% 36 35% Elec Stor Bat ... 30% 29% 29% 55% Mullins Mfg ... 15% 15% 15% 15% Murray Body ... 21% 21 21% 20% Stew Warner ... 17% 17% 17% 17% Timken Roll ... 71 70% 71 70 Timken Det Axle 11% 11% 11% 11% Mining— Alaska Jun 16% 16% 16% 16% Am Metals 31% 31 31% 30% Am Smelt 63% 63% 63% 63 Anaconda 25% 25% 25% 25% Cal & Hecla ... 5% 5% 5% 5% Cerro De Pasco . 60% 59% 59% 60 Dome Mines .... 42% 42 42% 42 Granby 13% 13% 13% 13% Gt Nor Ore 14% 14% 14% 14% Homestake Min.. 424 424 424 424% Howe Sound 58 57% 57% 58 Ins Copper .... 7% 7% 7% 7% Int, Nickel 39% 39% 39% 39Vs Kennecott Cop.. 29% 28% 28% 29 Mclntyre Mine.. 40% 39% 40% 40 Park Utah 5% 5 5% 5 Phelps Dodge.. 26% 26% 26% 26% St Joe Lead 23% 23% 23% 23% U S Smelters.. .103% 102*2 103% 101 Vi Vanadium 21% 21% 21% 21% Amusements— Crosley Radio... 17% 17% 17% 17% Fox theat ... 22% 21% 21% 21% Loews Inc 54% 53Vs 54% 53% Radio Corp .... 12 12 12% 12% Paramount 9% 9% 9% 9% RKO . . ...... 5% 5 5% 5% Warner Bros ..9 8% 9 9 Tobaccos— Am Tob ••B” ~..105% 105% 105% 105% Gen Cigars .. 52% 52% 52% 53 Ligg % Myers B 15*% 15% 15% Lorillard 26 25% 26% 26 Phillip Morris 64'% 64% 64% 64 Reynolds Tob B 58*% 58% 58% 58 Rails— Atchison 54% 53% 54% 53 Atl Coast Lines. 29% 29% 29% 29% g& O 16% 16% 16% 16% Can Pacific .... 12% 12 12 12 Ch At Ohio 52% 52 52% 51% Chi Ac Gt W I*2 1% IV, is. Chi & Gt W pfd 3% 3% 3% 3% C M & St P.... 1% 1% 1% 1% C M& St P pfd 3% 2% 3>, 2% Chi N W 3% 3% 3% 3 Chi N W pfd... 8 7% 7% 7% Dela & Hud ... 38% 37% .. 37% Del Lac &W .. 16% 16% 16% 15% Erie . 12% 12 12% 12 Erie pfd . . ... 16% 16% 16% 16 Grt North pfd... 32% 32% 32% 32% 111 Central 17 16% 17 16% K C Sou 7% 7% 7*2 7% Lehigh Valley .. 9% 9% 9% 9% Lou A: Nash ... 57 56% 57 55% M K & T 5% 5% 5% 5% M K & T pfd ... 13 13 13 12% Mo Pac 2 1% 2 1% Mo Pac pfd ... 3Vs 3% 3% 3% N Y Cent 27 26% 26% 26% N Y New Haven 4% 4% 4% 4 N Y Ont & West 5% 5*2 5% 5% Norfolk & West 198 198 198 199 Nor Pacific 23% 23% 23% 23 1 a Penn R R 30% 30 30% 30 Sou Pac 23 22% 23 22% Sou R R 12*4 11% 12% 11*4 Union Pac 104% 104 104% 103'., Wabash 2% 2% 2% 2% West Maryland.. 8% 8% 8% 8% Equipments— Am Brake Shoe. 40% 40*4 40% 40% Am Car & Fdy.. 31% 31% 31% 31 Am Loco 27*4 27 27 26 Am Steel Fdy ... 24% 24% 24% 24 Bald Loco ... 5% 5% 5% 5% Gen Am Tk Car. 45% 45 45% 45*4 Gen Elec 40*/s 39% 39% 40 Gen R R Sig ... 39% 39% 39% 39 Pullman Inc ... 38% 38% 38% 38% West Air Br . . 34% 33% 34% 33% Westingh Elec .. 96% 95% 95% 96% Utilities— Am & For Pwr.. 7% 7% 7% 7% Am Pwr & Lit . . 9 8% 9 8% AT&T 152% 152% 152% 151% Am Wat Wks ... 21% 21% 21% 21*2 Col Gas & 71ec. 15 14% 15 14% Comm A: Sou ... 32% 2% 3 Consol Gas 34% 33% 34% 33% Elec Pwr & Lit . 6% 6% 6% 6% Jnt Hydro Elec . 4 3% 4 3% Interboro R T .. 10% 18% 18% 19 Int T & T 13% 13% 13% 13-% Nat Pwr & Lit.. 10% 10% 10% 10% North Amer 27% 27% 27% 27% Pac G& E 29% 29% 29% 29% Peoples Gas 40% 40% 40% 40% Pub Serv N J ... 46% 45% 46% 45 7 R So Cal Edison .. 26 26 26 25% Std Gas 5% 5% 5% 5% Stone & Webster 13% 13*4 13*4 13 United Corp .... 7% 7% 7% 7% Un Gas Imp 18% 17% 18% 17% Ut Pwr &• Lt “A'’ 3% 3% 3% 3% West Union 75% 75% 75% 75% Rubbers— Goodrich 12% 12 12% 12 Goodyear 22% 2.*% 22% 21% U S Rubber 15% 14% 15% 14% U S Rub pfd ... 41 % 40% 41% 40 Miscellaneous— Allis Chalmers . 35% 35% 35% 35% Am Can 144 144 144 144% Am Mach & Fdy 32% 32*4 31% 32*2 Anchor Cap . . 15% 15% 15*4 15 Brklvn Man Tr 42% 42% 42 1 2 42% J I Case 109% 109% 109% 107% Conti Can 96% 96 96 96*2 Caterpillar Tract 59% 59% 59% 59*2 Crown Cork .... 46% 46% 46% 46% Curtis Pub 20% 20% 20% 20% Deere & Cos ... 57 56* 2 57 56% Eastman Kodak 170 170 170 169*2 Foster Wheeler . 22% 22*4 22* 4 22*2 Gillette 18% 18% 18% 18% Glidden 44% 44% 44% 44% Inter Harv 64*2 64% 64*4 64% Natl Cash Reg .. 21% 21*4 21% 21 Owens Bottle .. . 125% 125 125% 124% Rem Rand 17% 17 17% 17% Foods— Am Sugar 56*4 56*2 56% 56*4 Armour 5% 5% 5* 2 5% Armour 6% pfd 67 66% 66*4 66*2 Beatrice Cream . 19% 19*4 19% 19% Borden Prod .... 27% 27% 27% 27*2 Cal Packing . 36% 36% 36% 36 Cana Dry G Ale 13 12% 12% 12% Cont Bak • A" . 9 8% 8% 8%

Local Securities (Because quotations on local securities are unlisted on an Exchanse, The Times can not assume responsibility for the accuracy of these figures gathered from local brokers.) STOCKS Bid. Ask. Belt RR <fc Stk Yds com 50 52'/ 2 Belt RR & Stk Yds 6G, pfd... 52 Central Ind Pow 7Ue pfd 17 20 Home Tel&Tel Ft. Wn "Cc pfd 50!k 52 Hook Drug Inc com 14 15Va Ind A- Mich Elec 7G> pfd 99 102 Ind General Service 87 91 Ind Hvdro Electric 53 57 Indpls Chain Sto Term pfd... 52'a 62's Indpis Gas Cos com 38 Indpls Pow &Lt 6 pfd 82 85 Indpls Pow & Lt 6' 2 T- pfd ... 87 90 Indpls Water 5G pfd . .102 Y North Ind Pub Svc 5' 2 G pfd.. 67 70 North Ind Pub Svc S'? pfd ... 76 80 Progress Laundrv com 6Vi .. Pub Svc of Ind 6% pfd 12 15 Pub Svc of Ind pfd ... 32 35 So Ind Gas & Elec 6D- pfd . 92 96 Terre Haute Elec pfd 79 83 Union Title com 18 20 BONDS Atlanta Distr Term 694 ’4l ... 62’i 70 Buffalo Distr Term 6 < ~i '4l 70 80 Brooklyn Postal Sta s’sG. '4B 37',j 42 Home Tel&Tel FtW s'aEi ’35 103 105 Home Tel&Tel FtW ’43 103 106 Indpls Railways Inc '67 . . 49 53 Indpls Water 4’ 2 G. '4O ...105 107 Indpls Water 5T- 'SO & '6O 105 107 Indpls Water s’ 2 r - ’S3A- 54 103’ 3 105 Interstate T A* T s’ 2 <-4 '53 , 93 96 Kokomo Water Works ’SB .104 105 Vi Lafavette Telephone 5% ’57 102 Morris 5 A 10 Stores 5% 'SO 99 102 Muncie Water Works Noblesville HLA-P 6’ 2 '47 96 98 Ohio Tel Service 6% '47 95 Richmond Water Works 5%'57 104’i 106 St. Louis Post Office 5' 2 c4 38 18 25 Seymour Wtr Ist mtg 5c4 ’59 101 104 Terre Haute Water Wkss>-4 ’56 101V4 103'i Terre Haute Wat Wks B'"4 ’49 103 105 Traction Terminal &<?• ’57 70 7t

INDIANAPOLIS, FRIDAY, NOVEMBER 22, 1935

Corn Prod 71% 71*4 71% 71% Gen Baking .... 11 3 4 11% 11% . 11% Gen Foods .. . 34% 34% 34% 33% Gold Dust 20*2 20*8 20% 20% G W Sugar 34*2 34% 34% 34% Int Salt 27 27 27 27% Loose Wiles .... 40% 40% 40*4 40% Na'l Biscuit .... 35% 35% 35% 35% Natl D Prod .... 19% 19*2 19% 19% Puritv Dak . ■ • 14% 14% 14*4 14% S Porto Rico Sug 27 27 27 27 Std Brands 15 14% 14’g 14 3 4 Un Biscuit 24% 24 24 1 * 24 Wrlgley 79 79 79 79% Retail Stores— Assd Dry Goods 17% 17% 17*4 17*4 First Natl Stores 47*2 47% 47% 45*2 Gimbel Bros ... 7 7 7 Gr Un Tea . 3% 3*2 3% 3% Allied Dept Sts.. 8% 8% 8% 8% Jewel Tea 56 56 56 55% Kresge S S 27% 27% 27% 27% Kroger Groc 26% 26*8 26% 26* 2 Macv R H 55 54% 54% 54% McCrorv St 12% 12 12% 11*4 McLellan St .... 13% 13*2 13% 13% May Dept 5t.... 56% 56% 56% a6% Mont Ward .... 39% 38% 38% 39 Natl Tea 10 10 10 9% Safeway St .. 33% 33% 33% 33_s Sears Roebuck.. 67% 66% 66% 66% Woolworth 59% 59 59 59% Aviation— Aviation Corp ... 3% 3% 3% 3% Boeing Aircrft .. 13% 13% 13% 13% Curtiss Wright.. 33 33 Curtiss Wri (A).. 8% 8% 8% 8% Douglas Air .... 34% 33% 33% 34% Nor Amer Av.... 5% 5% 5% 5% Utd Aircraft new 21% 21 21*4 21 Chemicals— Air Reduction ..171 171 171 171% Allied Chem ....166% 166% 166% 166% Com Solvents .. 22% 21% 21% 22 Du Pont 144% 144 144 144*4 Freeport Tex .... 30% 30 30*4 30*4 Liquid Carb .... 35 35 35 34% Math Alkali ... 33% 33% 33% 33*4 Monsanto Chem .. 94 94 94 94 % Natl Dis Inew).. 30% 30% 30% 30% Schenlev Dist ... 53% 52% 52% 52% Tex Gulf Sulph.. 33*4 33 33% 33 Union Carbide.. 74% 73% 74*4 74 U S Indus Alco.. 49% 49% 49% 49% Drugs— Bristol Myers.... 41*2 41 41 41% Cotv Inc ' 6% 6*4 6% 6% Lambert 24% 24% 24*4 24 Lehn & Fink 12% 12% 12% 12*4 Sterling Prod ... 66% 66% 66% 66% Un Drug (new).. 11% 11% 11% 11*4 Zonite Prod .... 6% 6 6 6 Financial— Adams Exp 10*4 10 10 10% Allegheny Corp . 2% 2% 2% 2*2 Am Int Corp ...11% 11% 11% 11% Chesa Corp 55% 55% 55% 55% Lehman Corp ... 95 94% 94% 94% Transamerica ... 13*4 13% 13% 13*4 Tr Conti Corp .. 7% 7% 7% 7% Building— Am Radiator ... 22% 21% 21% 21% Gen Asphalt ... 22% 21% 21% 22% Int Cement .... 34% 34% 34% 34* 2 Johns Manville . 95% 95% 95% 95 Libbv Owens Gls. 48 47% 47% 47% Otis Elev 23% 23 23 23 U S Gypsum 85% 85 85 85% Ulen Cons 3% 3% 3% 3% Household— Col Pal Peet ... 18 17% 17% 17% Congoleum 45 45 45 45 Kelvinator 15% 15'4 15% 15 Mohaw'k Carpet . 21% 20% 21% 21%

N. Y. Bonds (Reprinted From Late Times Testerdayl DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. Today 91.4 80.5 x 103.1 x9l 7 Yesterday 91.4 79.5 103.0 91 7 Week ago 90.5 78.8 102.7 90.7 Month ago 89.8 77.5 101.1 89.), 1935 high 91.4 86.4 103.0 91. t 1935 low 83.6 71.0 89.3 83.0 xNew 1935 high. (Copyright, 1935, by Standard Statistics.) U. S. GOVERNMENT BONDS (By Abbott. Proctor & Paine) Treasurys Prev. ~ . Close, close. I'*S. 1947-52 115.7 115.5 1944-54 110.22 110.25 3y,s. 1946-36 109.2 109.3 3 3 5. 1940-43 107.6 107.6 3 ’4 s, 1943-45 105.16 105.10 3 sS. 1944-46 104,29 104.30 3’ BS. 8 S. 1946-49 103.19 103.20 3’ B s, 1949-52 103.15 103.16 3s. 1951-55 102.18 102.18 3s. 1946-48 102.18 102.20 274 s, 1955-60 100. 100. 2 s 4S. 1945-47 100.30 100.28 Home Owners Loan Corn. 2 3 is. 1949 99.17 99.18 3s. 1952 100.23 100.24 Federal Farm Mortgage Corp, 3s. 1949 101. 100.29 3s. 1942-47 101.11 101.13 DOMESTIC Prev. Close, close. Alleg Corn 5s ’44 85 85 Alleg Corn 5s ’49 78’/ 2 78’ 4 Alleg Corp 5s ’SO 46 421 2 Am Frgn Pow 5s 2030 ,68 67’2 Am Tel & Tel s’/ 2 s ’43 Il3’/i 113’a Am Tel & Tel 5s ’65 113 113 1 e Arm &Cos (Del) 5’2S ’43 94 % 94 7 s Atl Coast Line 4s ’52 95’- 4 95 Ati Coast Line 4’ 2 s ’64 83’ 2 80 3 i Atch Ton & S Fe 4 2 s ’4B 107’2 108’,4 Am Wat Wks 5s ’44 112’/ 2 113 Am Rolling Mills 5s *3B 127 125 Balt A Ohio 5s '95 81 4 I’4 Balt & Ohio 6s ’95 81’/ SV/t Balt & Ohio 4‘ 2 s ’6O 57 3 s 56 Buff Roch & Pitt 4’is ’57 64 64 Chi Milw &StP 5s ’75 13’/a 12 Chi Mihv & St P 5s 2000 5 \ 4 3 b Cleve Un Term 5s '73 99V 99> 2 Cleve Un Term 4’ 2 s ’77 91’ 2 91 3 4 Col Gas 5s Mav ’52 98 3 4 99 Col Gas 5s ’6l 97V 97’/a Can Pac Pern 4s 84 2 84-s Cent Pac 5s ’6O 85 4 84 4 Big Four 4> 2 S ’77 Bie Four 5s 63 |3 82 4 Ctlorado &So 4’ 2 s 80 53 -4 52 r Ch. A- West Ind 4s ’52 98 3 r 98 3 a Chi & West Ind s’/,s ’62 10 5, 4 Chi & Nor West 4 3 %s '49 .... lO’/a 9V Con Gas 5s ’57 . 105’4 IOoV Chesa Corn as 47' 113 114 Del & Huds 4s 43 35 14 * N Y Dock 5s ’3B 56 /a 55 Gen Cable s’isl 47 100,a 100 Grt Northern 7s 36 102 'a 102 a Grt Northern 4’is 76 ®4 93 , 4 Grt Northern 4' 2 s 77 • ••• 93 -4 93 Gen Stl Cast WW 5’ 2 S .49 .... 84'a 84 2 Hud & Manhat Ref 5s 57 82 80 a 111 Cent 4 3 -4S ’66 54 3 s 53 111 Cent Jt 4’ 2 s ’63 58 4 56 a Interlake C & I 5s 51 86 85J 4 Interntl Hy Elec 6s 44 48 2 4<^ Interntl TANARUS& T 4’ 2 s ’39 82’2 BL 4 Interntl T * T 5s ’55 i4 3 4 34 Interntl TANARUS& T 4’ 2 s ’52 IV's <0 2 McKess A Rob s’ 2 s ’ao 102 V 102 2 Natl Dairy 5Vs ’4B 104 V 104 4 Natl 5s ’56 - 105’a 10a 4 Nickel Plate 4’is 78 6a’4 63 Nickel Plate s'-is ’74 (6 .4,a Nickel Plate 6s ’35 83 7, N Y Cent 5s 2013 . ■-■•••• 37 34 4 N Y Cent 4’ 2 s 2013 (01d)... (IV 30V Nor Amer Cos 5s '6l 103 s 103 2 Nor Pac 3s 2047 72 71Ja Nor Pac 4’is 2047 88V 88 4 Nor Pac 6s 2047 102‘ 2 102 4 Nor States Pow 5s ’4l 106 3 4 106 4 New' Orleans Term 4s 53 39’ 2 78 4 Otis Steel 6s ’4l 101 a 101,4 Penn Rv 4’is ’B4 104 i 104 Penn Rv 4’2S '7O 9i 4 9; 2 Pac G & E 5s ’42 106 a 105 V Portland Gen El 4*2S 60 73 a *3 4 Para Publix 5’ 2 s 'SO 91V 92 Penn P& L 4’ 2 s ’Bl 10aV 106 Postal Tel A Cab 5s 53 35 3 a 35 a Rem Rand WW o’ 2 s ,;47 104-V 105 V Shell Union Oil 5s '47 104' 2 104 Sou Pac 4' 2 s ’6B 75 74 Sou Pac 4' 2 s ’Bl (4'i 2 Sou Pac 4’ 2 s ’69 ‘5 (4a Sou Pac 4s ’49 (9’i 78 4 Sou Rail 4s ’56 48 45’ 2 Sou Rail 6s ’56 61 59 3 a Sou Rail 6’ 2 s 56 ■ 4 Sharon Stl Hood s’ 2 s ’4B 102 V 103 Texas Pac 5s 'BO 92 91 Texas Pac 5s '77 92V 91V Union Pac 4s '47 Ill 1 a 111 V United Drug 5s 53 95V 94^ 3 U S Rubber 5s '47 100' 101 NY NH & Hart 6s '4B 27 25V NY NH & Hart 4Vs ’67 26 25V Warner Bros 6s '39 88’4 88V Western Mary 5Vs '77 104 V 105 Western Mary 4s '52 95V 95V Youngstown S & T 5s ’7O ...101U 101 V Youngstowm S & T 5s ’7B ....101 101 FOREIGN Argentina APs '57 98V 98V Argentine B 6s 'SB 98 98V Brazil 8s '4l 29V 30 Canadian Govt 4s '6O 106 V 106 V Denmark 5Vs '55 100 V 100 V German 5' 2 s '65 30V 31 German 7s '49 38V 33 Italy 7s 'sl 58V 58V Japan 6' 2 s ’54 98 97V Poland 7s ’47 103 103 Rome 6Vs '52 51V 51 Tokio City 5Vs '6l 81V 81-4 Yokohama 6s '6l 85 85V Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers 66V 68V Central Hanover B & T 124 V 126* 2 Chase 36V 38V Chemical National 56' 2 58V Guaranty 309 311 Irving 16V 17 V Manufacturers 38V 40V National Citv 33 34' 2 Cent 111 (Chicago) 94V 96V First Natl of Boston 43V 45V Natl Shawmut 24V 26 V FIRE INSURANCE Aetna Fire . . 56 58 V City of New Y’ork (new) 27V 29 V Federal Ins 81V Great American Ins 26V 28 V Hanover Fire Ins 38V 33V Hartford Fire Ins 78V 80V Home Insurance 36V 37V Ins Cos of N A 70V 72V National Fire 71V 73V North River Insurance 27V 29V Phoenix Insurance BSV 91V U S Fire 53V 55V Manchester Fire 35)4 37

Proc &- Gam ... 48% 48*4 48% 48% Servel Inc 14% 14% 14% 14% Simmons Bed ... 18% 18*4 18*4 18% Textiles— Amer Woolen .. 10*2 10% 10% 10% Celanese Corp .. 29% 29 29 29*2 Collins Aikman . 46% 45% 45% 45% Gotham Hose . 9% 9% 9% 9% Indus Rayon ... 31% 31 31% 31% Real Silk 10* * 10 10 9% Dividends Declared Dividend .-.ites are given in dollars and cents unless stated otherwise. Company— Ra'e Per and Payable close Argonaut Mng .70 Dec. 10 Nov. 25 Briggs & Stratn .75 Q Dec. 16 Dec. 5 Daniel Reevs .12% Q Dec. 16 Nov. 30 Domin Textile . 1.25 Q Jan. 2 Dec. 16 Honolulu Oil . .25 Dec. 15 Dec. 4 Indapolis P w & Lt 6"o cum p . 1.50 Q Jan. 1 Dec. 5 Indapolis P w & Lt 6* 2 G cum p. 1.62% Q Jan. 1 Dec. 5 Lily Tulip Cup .37% Q Dec. 16 Dec. 3 Louisville Gas & El A .37*2 Q Dec. 24 Nov. 30 Louisville Gas &- El B .37*2 Q Dec. 24 Nov. 30 Nat Dairy Prod .30 Q Jan. 2 Dec. 4 St Joseph Lead. .10 . Dec. 20 Dec. 9 Texas Gulf Sul. 50 Q Dec. 16 Dec. 3 U S Ind Alcohol .50 Q Jan. 2 Dec. 16 Vortex Cup A .62% Q Jan. 2 Dec. 14 Vortex Op com .37% Q Jan. 2 Dec. 14 Wis Pub Serv 7 % p ■ .87% .. Dec. 2 Nov. SO Wis Pub Serv 6%% p 81% .. Dec. 20 Nov. 30 Wis Pub Serv 6% p ...... .75 .. Dec. 20 Nov. 30 SM A Corp.. .12*2 Q Jan. 2 Dec. 20 S M A Corp 10 ex Jan. 2 Dec. 20 Chesebro Mfg .1.00 a Dec. 27 Dec. 6 Chesebro Mfg 1.00 ex Dec. 27 Dec. 6 Congleum-Nairn .40 Q Dec. 16 Dec. 3 Congleum-Narin .25 Q Dec. 16 Dec. 3 aCrown Williamette Paper $7 p 1.00 .. Dec. 14 Nov. 30 aCrown Willamette Paper $7 p 1.00 .. Jan. 1 Dec. 16 aCrucible Stl p 1.00 .. Dec. 31 Dec. 16 bEdison Bros . .40 Q Dec. 30 Nov. 30 Edison Brothers .25 ex Dec. 30 Nov. 30 clntl Harvester .60 Q Jan. 15 Dec. 20 Louisiana Land & Explor ... .10 int Dec. 16 Dec. 2 dMidvale C 0.... 1.00 . . Dec. 7 Nov. 30 Natl Lead 1.25 Q Dec. 31 Dec. 31 Natl Lead 100 ex Dec. 31 Dec. 13 Natl Lead Bp. 1.50 Q Feb. 1 Jan. 17 Nevada-Calif El 7% cum p 1.00 Q Feb. 1 Dec. 30 Wagner Electric .50 eMo Edison $7 spe Dec. 20 Nov. 29 cum p... 1.16 2-3 Q Jan. 2 Dec. 20 bPlaces stock on $1.60 annual basis against SI.OO previously. cPuts stock an annual basis of $1.20 against 60 cents previously. riFirst payment since November 7, 1934, when $1 was paid. ePaid 87*2 cents in previous quarter. aOn account of accumulations. Chicago Stocks (By Abbott, Proctor & Painei 11:30 Prev. A. M. close. Berghoff 6 % 6% Butler ... B*., 8% A. M. Castle 44 43% Chicago Corp. 4% 4% Chicago Corp pfd 46 45 Cities Service 2% 2% Com & Edison 97 98 Cont!. Steel 41 % 41 Cord Corp 4% 4 Crane Cos 21 1 2 21% Etec. House 18% 18*2 Gen. House 2% 2% Grt. Lakes 28% 28 Iron Firemen 27% 26% l.’bby 9*4 9% Noblitt Sparks 32% 32% Perfect Circle 38 388% New York Curb (By Abbott, Proctor & Paine.) 12 (Noon) Prev. N. Y. close. Alum Cos of Am 93 92*2 Am Cyanide "B'’ 29% 29* 2 Am Superpower 2% 2% Atlas Corp 13% 13% Carrier Corp 10 10 El Bond & Share 17% 16% Ford of Can "A" 27% 27*4 Ford of Europe B*4 B*4 Hiram Walker ‘ 33 32% Imperial Oil Ltd 21 21 Lake Shore Min 51% 52% Nia Hud Pwr 9 9% Penn Road 3% 3% Sonotone 2% 2% Wright Hargraves Min 7% 7% Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,261,000 Debits 6.058,000 TREASURY STATEMENT <By United Press) WASHINGTON, Nov. 22.—Government expenses for the current fiscal year to Nov. 20 as compared with a year ago: This Year. Last Year. Expenses ..$3,008,700,587.28 $2,688,215,739.29 Receipts .. 1.412.118.529.18 1.404.422,045.71 Deficit 1.596.582,058.10 1.283.793.693.58 Cash bal .. 1,462.742.066.82 1.641,126,409.45

EXPECTS COURT TO APPROVENEW RATE 200 Livestock Men Ask for Higher Selling Fees. By United Press CHICAGO, Nov. 22.—Court approval of an increased rate schedule set up by 200 livestock commission men at the Chicago Stockyards was indicated yesterday in a “finding of fact” filed by a three-judge Federal court. A preliminary injunction preventing Henry A. Wallace, Secretary of Agriculture, and his officers from interfering with collections under the new schedule was expected Monday. Tire commission men, in defiance of a ruling cutting their rates by one-fifth, instituted the new schedule Nov. 1. The new schedule returned the rates to about the same levels prevailing prior to Feb. 3, 1935, when the United States Circuit Court of Appeals upheld the Secretary of Agriculture’s ruling. The commission men in their petition asserted they were forced back to the old rates in “self-preserva-tion” because revenues had fallen to the lowest level since 1882. The slump was due, they said, to reduced livestock receipts and to the reduction in commission rates made last spring. BUSINESS FAILURES DIP Dun & Bradstreet, Inc., Report Total of 210 for Week. Times Special NEW YORK, Nov. 22.—Business failures in the United States for the week ended Nov. 14 again displayed a slight decrease, Dun & Bradstreet, Inc., revealed today. Defaults amounted to 210, compared with 212 in the preceding week. Retail failures dropped to 119. against 126 in the previous week. In the wholesale division there was an increase of one failure, and for the manufacturing and other commercial groups there was a rise of 3 to 1, respectively. Chicago Grain Futures 11:30 Prev. Wheat— High. Low. A M. close. May . 99V .98V .99 ,98 s Dec I.OOV .99V .99V .99V July 92V .91% .91V ,91V Corn— Dec ,60V .60V .60V 60V Mav 60 3 4 .59V ,59V 60 V July 61V .60% .£1 ,61V Oats— Dec 27 V ,26 V .26V .26V Mav 28 V 28 V 28 V .28’-. July 29V .28V 28V ,28V RyeDec. 50V .50 .50 50 V Mav 52V .52 V .52V .52V July 54 .53V 53V .53V LOCAL CASH MARKET Citv grain elevators are paying 91 cents for No. 2 soft wheat. Other grades or their merits. Cash corn new No. 4 yellow 51 cents and oats 19 cents. <

INVITE LABOR, INDUSTRY TO ‘WRITETICKET’ Government to Keep Hands Off at Conference, Berry Says. By United Prfss WASHINGTON. Nov. 22.—Maj. George L. Berry, co-ordinator for Industrial co-operation, today invited Industry and Labor to “write their own ticket” for a “stabilized prosperity.” He promised a “strictly hands off” policy by government officials in the conference of industrial and labor leaders here Dec. 9. No legislative proposals will be offered by government officials, he said. “This is industry’s party,” Berry said. “This is a stirring call for industrial statesmanship, a cooperative brand that has heretofore been lacking too often.” Hits at Critics Critics, he added, who have described the meeting as a revival for the defunct NRA or a scheme to deliver industry bodily to the American Federation of Labor, are “dealing in silly stuff ... in a childish fashion,” “I have no brief to present for the National Recovery Administration or the National Industrial Recovery Act,” Berry said. “I have no personal formula for immediate solution of these vital questions which can not long be evaded, and for which acceptable answers must be found.” While declining to advocate anew NRA, he said “the fact seems to me to be inescapable that it definitely stopped a further and more violent disintegration of industry.” Congress to Get Legislation He said years of intimate contact with business and labor groups led him to “question whether voluntary trade associations and voluntary codes will be strong enough to drive out cut-throat competition and banish the sweatshop operator.” Although Berry does not intend to propose any remedy for unemployment and other industrial ills, he said that if legislation should be agreed upon by a majority of the forthcoming conference, “it naturally will be proposed to Congress.”

INDUSTRIALISTS RAP NEW DEAL Founders’ Association Meets in Private Convention for Discussion. By United Press NEW YORK. Nov. 22.—Almost 200 industrialists, members of the National Founders Association, revealed in mimeographed reports of a private convention today that they had weighed the New Deal and found it deficient. The association met all day yesterday in a hotel room posted “private” and guarded by a secretary, and reconvened today with the same guaranties of exclusiveness. Speakers were Thomas W. Pangborn, association president; J. H, Van Deventer, editor of the Iron Age; T. M. Girdler, chairman and president of Republic Steel Corp., and Dr. Walter E. Spahr of New York University. They used different adjectives about the New Deal, but they all voted to convict. Says Industry Disheartened Pangborn, as keynoter, called attention to the approaching national election and said that, “while you and I can probably weather the storm,” it would be “unfair” to their employes not to “resist the tide.” He said industry has cooperated with government in many ways since President Roosevelt took office, but is “disillusioned and disheartened by the costly experiments of the last two years.” Dr. Spahr, head of the New York University Department of Economics, predicted a “storm” when Congress reconvenes in January. “We have in power a revolutionary political power rather than a National Administration,” he said, and added that Rexford G. Tugwell, Under Secretary of Agriculture, is fomenting a “class revolution.” Girdler complained that his industry is unjustly accused of artificial price maintenance. Weighted earnings on capitalization from 1928 through three quarters of 1935 were only 1.6 per cent, he said.

FOOD INDEX ADVANCES 5 CENTS DURING WEEK Wholesale Prices Reach Highest Level Since Sept. 11, 1930. Times Special NEW YORK. Nov. 22.—The weekly food index during the last week rose from $2.73 to $2.78, the highest level since Sept. 11, 1930, Dun & Bradstreet, Inc., announced today. This was an increase of 5 cents, or 1.8 per cent over the preceding week. The latest number compares with $2.41 at the same time a year ago, or an increase of 15.3 per cent, and $2.13 for the corresponding week of 1931. The sharp increase in prices was reported as general with the list of advances including flour, wheat, mess pork, butter, cheese, cottonseed oil, cocoa, eggs, rice, hogs, sheep and lambs. Declines were recorded for oats, rye, sugar, coffee, beans, peas, potatoes and raisins. TINPLATE PRODUCTION UP Times Special NEW YORK. Nov. 22.—World tinplate production in the first nine months of 1935 totalled 2.591.000 tons, representing an increase of 10 per cent compared with the corresponding period of 1934. The world output of motor vehicles increased by 21 per cent to 3.823.000 vehicles in the nine months Januarv-Sep-tember, 1935, against 3,154,000 in January-September, 1934.

To Vote on Capital Reduction Stockholders of the Westinghou.se Air Brake Cos. v ill he asked to vote Dee. 20 on a proposition calling for the reduction of the company's stated capital from $17,581,661 to $31,893,218.

PROMISES ‘HANDS OFF*

v

Maj. George L. Berry

The government will keep a “strictly hands off” policy in the conference of industrial and labor leaders at Washington Dec. 9. Maj. George L. Berry, Industrial Co-ordinator, has promised.

HOGS CONTINUE UNEVEN TREND Prices Steady to 20 Cents Lower; Cattle, Veals Stationary. Depressed by a sharp increase in receipts, the pork market at the Indianapolis Union Stockyards today was steady to largely 20 cents lower than yesterday’s best average. The supply was estimated at 6000, compared w’ith 4000 yesterday. A weak demand prevailed in practically all classes, and as a result approximately 869 hogs were held over for tomorrow’s market. Despite the weak undertone the top price paid for good and choice weights held at $9.80. Heavy supplies also were reported at surrounding livestock markets. The bulk of 160 to 275 pounds sold at $9.50 to $9.75. Medium heavy weights, scaling from 275 to 325 pounds, brought $9.30 to $9.55. Extremely heavy butcher weights, from 325 pounds and upward, sold at $9.10 to $9.35. Good packing sows held at $8 to $9. Trading in the cattle market was scarce and unchanged, especially in slaughter steers, she stock showed little change, while most classes of cows were strong and active. Bulk of heifers sold under SB, while best grades brought $9. Bulls ranged from $4.25 to $6. Receipts numbered 600. The veal market displayed a steady trading range for the first time this week. Bulk of good and choice kinds brought $10.50 to sll. Receipts were 500. Lambs also were stationary, with the bulk of better grades selling at $10.25 to sll. Slaughter sheep held at $3 to $5. Receipts were 1000.

HOGS Nov. Bulk. Top Receipts. 16. $9.60® 9 80 $9.65 1500 18. 9.45® 9.65 9.65 7000 19. 9.60® 9.75 9.75 6000 20. 9 60® 9.75 9.75 5000 21. 9 75® 9.85 9.85 5000 22. 9.50® 9.75 9.80 6000 Light Lights. 1140-160) Good and choice $9 25® 9.65 Medium 8.75® 9.50 Lightweights. (160-180) Good and choice... 9.65® 9.80 Medium . 9.15® 9.65 (180-200) Good and choice . 9.65 Ti 980 Medium 9.15® 9.65 Medium Weights. 1200-2201 Good and choice. . 9 60® 975 (220-2501 Good and choice.. 9.55® 9.75 Heavyweights. (250-2901 Good and choice. . 9 40® 9 65 ,290-350i Good and choice... 9.20® 9.55 Packing Sows. (275-3501 Good 8 60® 900 (350-425) Good 8 45® 8.75 (425-450) Good 8 25® 8 60 (275-4501 Medium B.oo® 8.50 Slaughter Pigs. (100-140) Good and choice . 9.00® 950 Medium 8.25® 9.40

CATTLE —Receipts. 600— (500-900) Choice [email protected] Good 8 50® 10.50 Medium 6.50® 8.50 Common 4.50® 6.50 (900-1100) Choice [email protected] Good [email protected] Medium 6.75® 8.75 Common 5.00® 6.75 (1100-1300) Choice 1.1.25®12.50 Good [email protected] Medium 7 00® 9.00 (1300-1500) Choice 11.50® 12.50 Good 9.00® 11.50 Heifers (500-750) Choice $9 00@T0 25 Good 7 50 @ 9.00 Common and medium 4.25® 7.50 (750-900) Good and choice ... 8 [email protected] 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, 500Good and choice $10.50@1100 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 (500-800) Good and choice ... 6 50® 825 Common and medium 4 25® 6 50 (800-10501 Good and choice .. 6 50® 850 Common and medium 4.25® 6.50 Cows Good 5 00® 6.50 Common and medium 4.00® 5.00 SHEEP AND LAMBS —Receipts. 1000— Lambs. 90 lbs. down, good and choice $lO 25® 11 00 Medium 8 [email protected] Ewes. (90-125) 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 Other Livestock 'By United Press) FT WAYNE Nov. 22.—Hogs—Steadv; 160-180 lbs.. $9.65: 180-200 lbs., $9,60, 200220 lbs. $9 55: 220-240 lbs $9 45 240-230 lbs., $9 35: 280-300 lbs,, $9 30; 300-350 lbs, $9.15: 140-160 lbs.. $3 40: 120-140 lbs . $9 15 100-120 lbs.. $8.90. Roughs. $3: stags. $6.25. Calves. $11.50; lambs. $10.50 LAFAYETTE. Nov. 22.—Hogs—Steadv to 25c lower; 160-200 lbs. $9.a0®9.60; 200250 lbs $9 35@ 940 250-300 lbs $9 20@ 9.30: 300-325 lbs., $9,10: 100-160 ibs $8 75® 9 25. roughs. $8.75 down. Calves. $lO down; lames, $lO down. BARETSTOCK SECRETS Missouri Pacific Official Admits Extra Set of Books Kept. By United Press CLEVELAND, Nov. 22.—Secrecy attending purchase of Missouri Pacific Railroad securities from its stockholders at open market discounts were admitted today by William Wyer, secretary-treasurer of the railroad and of the subsidiary j used to purchase them. Wyer said that the purchases for which tha railroad's money was used were not entered on the general books of the company at St. Louis, but were kept in a set of books here available only to O. J. Van Sweriagen and associates.

BOARD FILES 35 COMPLAINTS IN FIRST 6 WEEKS Cases Urder Wagner Labor Act Include Steel, Auto Industries. BY HERBERT LITTLE Times Special Writer WASHINGTON. Nov. 22—The filing of 35 formal complaints under the Wagner Labor Act, and successful conclusions of one by compliance, was announced today by the National Labor Relations Board at the clase of its first six weeks of activity. In addition to previously announced cases in steel, automobile, transportation, textile and other manufacturing industries. the board's roundup list today disclosed that two cases have been started involving oil companies at Tulsa and Bartlesville. The Giant United Fruit Cos. settled its case, growing out of a dispute bei tween a longshoremen's union and a company union in New York City, j bv formally subscribing to the prmj ciples of the Wagner Act in placards j posted for its employes to see. Erect Placards The placards, in English and Italian, anounced to the workers that "whenever representatives shall be chosen by its employes as provided in Sec. 9A (the election section) of the act, the company will negotiate with them.” The company announced that it “leaves to its employes the question of the manner in which they shall take advantage of the rights granted them by the Wagner Act, and will respect their freely expressed decision.” Meanwhile, the board itself is completing a hearing at Cincinnati of the third of its major cases, involving the Wheeling Steel Corp. plant at Portsmouth, O. In the Greyhound Bus case, the first brought by the board, the board's opinion is expected soon after Dec. 1. It also has under advisement an automobile case which it heard in Detroit. Case Starts in Kansas City Under ordinary court procedure a Supreme Court test from one of the pending cases may not be reached until next fall's term, thus giving the board nearly a full year to induce acceptance of the law such as United Fruit has now pledged. But today in Kansas City the board's lawyers will clash before Federal Judge Merrill Otis in an unexpected legal action in which a milling company is seeking a Federal injunction to block Wagner Act procedure. Lawyers believe the milling company suit will be thrown out on jurisdictional grounds, and a Supreme Court appeal of this angle of the case would tie the board’s hands only with regard to the one company. Six of the cases are from New York, four from Ohio, three from California, two each from Missouri, Georgia, Michigan, Connecticut and Oklahoma. One each has been started in Illinois, Texas, Tennessee, Maryland, Delaware, Virginia. Washington, Massachusetts, Pennsylvania, South Carolina, Indiana and West Virginia,

HARDWARE BUSINESS SHOWS SLIGHT GAIN’ Selling at Quieter Pace Tran in Pre ceding Months. Times Special NEW YORK. Nov. 22.—Hardware selljng so far in November has proceeded at a quieter pace than in preceding months, but maintains moderate gains over last fall’s volume. Hardware Age announced today. The recent improvement was noticed mostly in the Northwest. The good corn crop has kept sales very active on mitters, gloves and buskers, while a large yield of apples improved the movement of presses and parers. Canning supplies have enjoyed a busy fall. Open fall weather encouraged the movement of tools, paints, roofing and other building materials, and of outdoor goods in general. Electrical applianejs and better grade housewares are very active in early holiday buying, it was reported. Merchants appear to have a strong spirit of optimism. FINLAND TO PAY U. S. Installment of 8230,453 to Be Paid Under Old Arrangement. By Ignited Press HELSINGFORS. Finland, Nov. 22. —Finland, the only nation which did not default on its war debt to the United States, has decided to pay its $230,453 installment maturing Jan. 15. The payment will be under the old arrangement, pending ratification by Congress of a more advantageous redemption scheme, recommended by the United States and approved by Finland. OFFERS POWER BONDS Times Special NEW YORK. Nov. 22—Public offering of anew issue of $30,000,000 first mortgage bonds, per cent series due 1965. of the Kansas Power and Light Cos. as part of an operation to simplify its corporate structure and to finance the acquisition of four subsidiary and affiliated companies has been made through an underwriting group headed by the First Boston Corp., it was learned today.

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