Indianapolis Times, Volume 47, Number 232, Indianapolis, Marion County, 6 December 1935 — Page 42

T rends Neutrality Status Proves Moot Question. BY JOHN T. FLYNN

NEW YORK, Dec. 6 —On one point a pretty general agreement can be reached by Americans —namely, neutrality as regards warring nations. This agreement might be subject to modifications if Italy's war on Ethiopia were to spread to other nations, but certainly now the policy of neutrality is a popular one. We have a right

to ask, however, when apparent neutrality ceases to be neutrality. A t present we have a law under which the President is commanded to pro claim neutrality immediately upon the outbreak of actual warfare between two or more nations. This proclamation car-

Flynn

ries with it the prohibition against the sale of arms and ammunition to the warring countries. A commission is set up by the act, and authorized to declare what are arms and ammunition. As long a; the United States acts under that law it is neutral. When, however, the President goes beyond that law and undertakes to control trade for the purpose of putting pressure on one or more of the belligerents in order to stop the war, we are no longer neutral, The neutrality act was passed not to prevent wars, but to keep the United States out of war. It may be very proper to say that the best way to keep the United States out of w r ar is to prevent wars from starting or to aid in ending them as quickly as possible. That may be true. But that is not the policy of neutrality. That is a different approach to the subject. tt u tt THE present neutrality act well might be amended to include not only arms and ammunition but certain essential factors in the production of arms and ammunition. This could cover six or seven or eight basic materials. It could be made part of a general law without reference to the Ethiopian or Italian claim upon our good will, passed to apply to any countries which go to war. In the meantime, anything the President does designed to co-oper-ate with the League of Nations to put pressure on Italy is not neutrality. The League of Nations does not pretend to be neutral. It has adjudicated the case and decided against Italy. It has decided to throw its weight against one of the combatants, which is not neutrality. tt tt a THE State Department has already held that the neutrality law gives it no right to include oil in American embargoes. If it has no such right then it will be proceeding outside the law when it undertakes to cut off shipments of oil to Italy. It will be acting “to stop the war,” not to keep America out of the war. To stop the war may be a very laudable objective, but if we range ourselves on one side of the controversy to stop the war we may find ourselves ending by being in the war, and this is the very reverse of the neutrality which has been adopted by Congress. That Is what I think Senator Borah had in mind when he said the government may go too far in its apparent neutrality. It may go so far that It will not be neutral. (Copyright, 1935. NEA Service, Inc.) DOMESTIC ORDERS GAIN. By Times Special DAYTON. Dec. 6. Domestic orders of the National Cash Register Cos. during November showed an increase of almost 100 per cent over the corresponding month a year ago, the company reported today. On Commission Row Quotations below subject to change are average wholesale prices being ottered to buyers by local commission dealers: Fruit—Cranberries, early blacks, 25-lb. box. $4,25. Pears—Washington D'AnJo. $2.25. Bananas —7 hands, a pound. 5%c. Persimmons—California, lug, $1.50. Apples— Indiana Jonathans. $1.60 Summer Rambos, $1: Delicious, $1.60(411.75: Wealthys. $1; Grimes Ooldne. $1.15(411.25. Lemons—Sunkist, 3605, $6. Grapefruit—Texas, 64s to 70s, $3.50. Florida seedless. $2.75. Limes— Mexican, a carton 12s. 20c; Persian seedless. a hundred. $3. Vegetables- Beans, green, round stringiess. bu.. $2.50. Beets—Texas. 3-doz. crate. $1.90. Cahbnge—Northern Danish, 50-lb. bag. 90c. Carrots—Home grown. 40c; new bulk, half bu.. 60c. Cauliflower—California, crate. $2.50. Celery—Michigan, washed and trimmed, extra large, 55c: jumbo, doz,., 85c. Cucumbers—Southern, bu.. $3.50. doz. 85c. Kale—Home grown, bu., 60c. Lettuce—lceberg. California, best. $5; home grown leaf. 15-lb. basket. $1.60 Endive—Ohio, basket, 85c. Mangoes—California, crate $4.75, small basket, $1.25. Mint—Bunch. 15c. Mustard—Home grown, bu.. 60c. Onions —lndiana yellow, 50-lb. bag. $1; Indiana yellow. 10-lb. bag. 22c; western Spanish, 50-lb. bag, $1.50. Parsley—Home grown, doz., 35c. Peas—Telephone, hampers. $4. Potatoes—Round Cobblers. 100-lb. bag $1.65; Michigan Round White. 100-lb. bag $1.50. Early Ohios, bu.. $1.60; Idaho Russets. $2.40. Sweet potatoes—lndiana Jerseys, bu.. $1.65. Radishes—Ohio, button doz. baskets. 604170 c. Sagv—Doz.. 45c’ Spinach—Broad leaf, bu . 85c. Squash— Bu . $2.50. Tomatoes—California, repacked 10-lb. carton. $1.5001.75. Produce Markets The prices quoted below are paid for stock gathered in the country, while delivered in Irdianapolis the price will be a cent higher. Heavy breed hens. 16c: Leghorn breed hens. 12c; springers, over 4% lbs., 17c; under 4% lbs.. 16c; old cocks 9cLeghorn springers. 1% lbs. and up. 12c'. Turkeys—Young hens. 8 lbs. and up. 19c; toms. 13 to 18 lbs . 19c: over 18 lbs. 18c ; old toms, 14c. Ducks—White. 4% lbs and up 10c; geese. 10 lbs., full feathered and fat. 9c; old guineas, 15c; vourg guineas I'.- lbs. and up 25c. No. 1 strictly fresh eggs, loss off. 25c; pullet eggs. 18c. Each full case must weigh 55 lbs. gross, a deduction of 10c a pound under 55 lbs will be.tuade No. 1 butter. 36%@37%c: No. 2. st’jjns'-c; butterfat. 31c. Quoted by the Wedley Cos. Unlisted Stocks 'By Blythe Sc Cos.) NEW YORK BANK STOCKS „ , Bid. Ask. Bankers 68' j 70'., Central Hanover BA: T 130 132', Chase ... 40 ’ 41L Chemical National 57 58-’, Guaranty 323 326 lrvJnc 17% 18% Manufacturers 435, 45 National City 38', 39% Cont 111 (Chicago) 101'- 103% First National of Boston 44 ' 45% Natl Shawmut 27% 29', FIRE INSURANCE Aetna Pi re 61 63% City of New York (new 28', 30 Federal Ins .. 88 Franklin Fire 30% 32 Great American Ins 29*, SO 1 * Hanover Fire Ins 3R% 40', Hartford Fire Ins 81 83', Home Ins 36% 375, Ins Cos of N A 74 76 National Fire 75 North River Insurance 28 29% Phoenix Insurance 94 U 8 Fire 531- 55% Westchester Fire 34% 36%

PAGE 42

HUGE SALARIES OF EXECUTIVES ARE DISGLOSED Store Officials Received SIOO,OOO Salary, SEC • Reveals. it’! United Press WAf&IINGTON, Dec. 6.—Simon Lazarus and Fred Lazarus Jr., received SIOO,OOO each during 1934 for serving as secretary and director, respectively, of Federated Department Stores, Inc., and for serving in official capacities with subsidiary department stores, the Securities and Exchange Commission disclosed today. The information was contained in a group of registration statements released by the commission, which heretofore have been regarded as confidential information. The group was the second of a series the commission is releasing, the first of which was made public Tuesday. Simon Lazarus was listed as a director, secretary and treasurer of Federated Department Stores, a large holding company, and as president of F. & R. Lazarus & Cos., Columbus (O.) department store, a F. D. S. subsidiary. Rail Head Paid $90,830 Fred Lazarus Jr., according to the registration statement, received his SIOO,OOO last year as a director of Federated Department Stores, and as vice president of William Filene’s Sons Cos., Boston department store, also a Federated subsidiary. The statements also showed that Walter N. Rothchild, president of Abraham and Straus, Federated’s New York City department store, received $62,500 for his services in 1934. At the same time, it was disclosed that Leonard F. Loree, president of the Delaware and Hudson Railroad, was paid $90,830 in 1934, considerably less than he was believed to have received. Another large company whose registration statement was released was the California Packing Cos. L. E. Wood, president, was paid $50,240 for 1934, while R. M. Barthold, vice president of the company, received $42,850. Columbia Chief's Salary Listed Lorus Bloch of Crown, Zellerbach & Cos., West Coast lumber producers, received $67,760. I. Zellerbach and A. B. Martin were the second and third highest employes of the company, receiving $46,080 and $36,260, respectively. Phillip G. Gossler, executive vice president and secretary of the Columbia Gas and Electric Cos., was said to have received $91,300 for his services as director of Columbia Gas and Electric and his services with the Columbia Engineering Cos., operating subsidiary of Columbia Gas. This last was contained in the registration of the Cincinnati Gas and Electric Cos., a Columbia subsidiary, however, and did not specify whether this sum included Mr. Gossler's salary as vice president and secretary of Columbia Gas and Electric.

CONSTRUCTION AWARDS SET NEW HIGH PACE Engineering Contracts in* November Amount to $154,973,000. Times Special NEW YORK, Dec. 6.—Despite three legal holidays which reduced the number of days for opening bids in November, engineering construction awards set anew high pace during the month, the Engineering News-Record announced today. The four-weeks total was $154.973.000 of which $24,301,000 is private and $130,672,000 public. Os the latter, $15,187,000 is Federal and SI 15.485.000 state and municipal, almost a 100 per cent increase over the previous rate. Highway awards, waterworks and sewerage are responsible for the gain over last month. Highways for the four weeks totalled $42,028.000. Building awards were lower than last month, but well ahead of last year. They totalled for public buildings. $19,584,000; industrial buildings. $8,551,000; commercial buildings. $11,237,000. JAPAN CLOTH EXPORTS TO U. S. UP SHARPLY Shipments During October Total 3,668.000 Square Yards. By United Press WASHINGTON. Dec. 6.—lmporst of cotton cloth into the United States from Japan amounted to 3.668.000 square yards, valued at $162,000, during October, the Commerce Department announced today. Imports of Japanese cotton clothing in October. 1934, totaled 567,000 square yards, valued at $31,000, the department added. Imports of Japanese cotton cloth during the first 10 months of 1935 totaled 30,907,000 quare yards, valued at $1,482,00. compared with 4.149.000 square yards, valued at $214,000, during the same period of 1934. HUDSON SALES CLIMB Factory Shipments in November Total 13,020 Units. Times Special CHICAGO. Dec. 6.—Factory shipments of Hudson and Terraplane cars in November were the largest for any month of 1935. the company announced today. Shipments totaled 13.020 cars, including Canadian and export shipments, this compares with 6235 cars in October, and the previous high of 11.397 car* in April. Daily output of the company is now running at the rate of over 700 cars, it was reported. Retail sales in the first three weeks of November were the largest for any corresponding period since 1929 and were 170 per cent ahead of the first three weeks of November, 1934. • #- ■/* !) ■ \ % >

Abreast of The Times on Finance

New York Stock Exchange Prices

(By Thmoson Sc McKinnon) 11:15 A M. Prev. Oil*— High. Low. N. Y. close. Atl Rfg 237* 23% 23% 24% Barnsdall 13% 13 13 13 Consol Oil 10% 10% 10% 10% Cont Os Del 30% 29% 29% 29 % Houston ,newi.. 6% 6% 6% 6% Mid Cont Pet .. 16% 16% 167* 16% Ohio Oil 11% 11% 11% 11% Pet Corp . 11% 11% 11% 11% Phillips Pet 37% 36% 26% 37% Plymouth Oil .... 11% 11% 11% 11% Pure OU 14 13% 14 13% Royal DutcAi 477% 47% 47% 46% S.’aboard Oil ... 31% 31% 31% 31'. Shell Un 15 14% 14% 14% Soc Vac - 13% 13% 13% 13 S Oof Cal 38% 38 38% 377* S O of Ind 27% 27% 27% 27 SOof N J 49V* 49% 49% 49% Texas Corp 25 24% 25 24% Tidewater Assn . 11% 117* 11% 11% Un Oil of Cal ... 21% 21% 21 s * 21% Steels— Acme 71 69 71 68% Am Roll Mills ... 30% 30% . 30% Beth Steel 48% 48% 48 s * 48% Byers A M 20% 20 20% 19 s * Col Fuel & Iron 4% 4% 4% 4% Inland Steel ...105% 105% 10574 105% Ludlum Steel ... 24 24 24 24% Natl Steel 77 74 77 74 77'% 77% Otis Stel 16% 16 16 16 Rep ISc Stl 18% 18% 18% 19% U S Pipe & Fdy 21% 21 21% 20% U S Steel 48 4774 47% 477, Warren Bros 574 5 5% 5 Youngstn SSc T 36% 36% 36% 3574 Motors— Auburn 38% 38 38% 39 Chrysler 84% 83 74 83% 84% Gen Motors 55% 55% 55% 55% Graham Mot .. 3% 3% 3% 3% Hudson 15’4 15 15 x 157, Hupp 2% 2% 2% 2% Mack Truck 28% 28 28 28% Nash 16% 16% 16% 16% Packard 774 6% 7% 6 s * Reo 5% 5 % 5% 5% Studebaker 1074 10V* 10% 10'/* Yellow Truck .. 8 8 8 8 Motor Access- - Bendix 20% 2074 20% 20% Borg Warner .. 62% 62 62 6274 Briggs 51% 50% 50% 517* Budd Mfg 974 97* 9% 974 Budd Wheel .... 1274 12% 127a 12V2 Eaton Mfg 2774 27 27 27% Elec Auto Lite.. 33 74 33 33 33% Elec Stor Bat .. 5374 5274 52% 53 Houdaille “B”.. 77% 77% 27% 2774 Murray Body ... 19% 19% 19% 19'% Stew Warner ... 1674 16% 16% 16% Timken Roll ... 67% 67 67% 67% Timken Det Axle 1074 1074 10% 107, Mining— Alaska Jun 1574 14% 1474 15% Am Metals 32 3174 3174 317, Am Smelt 62% 62 6274 62 Anaconda 28% 2874 28 % 28 Cal & Hecla ... 6% 6% 674 674 Cerro De Pasco 6574 6474 6 5 6374 Dome Mines .... 42 42 42 4174 Gt Nor Ore 1574 14% 1574 14% Howe Sound .... 59% 58% 5974 58% Ins Copper 774 774 774 774 Int Nickel 45 74 45 % 45% 44% Kennecott Cop . 2974 29 % 29% 2974 Mclntyre Mine . 38% 38% 38% 38% Park Utah 5% 574 574 574 Phelps Dodge ... 28 27*4 28 27% St Joe Lead .... 2574 25 % 2574 25 U S Smelters ...114 11074 11074 110 Vanadium 20 197* 20 1974 Amusements— Loews Inc 53% 53% 53 74 53% Radio Corp 11% 1174 1174 11% Paramount 9% 9 74 9 74 9 74 RKO 5 74 5% 5% 5 V* Warner Bros ... 974 9 974 9 Tobaccos— Am Snuff 7074 70% 7074 7074 Am Sum Tob . . 2674 2674 2674 2674 Am Tobacco ‘A’. 99 99 99 9974 Am Tobacco ‘B' 10 174 101 74 101 74 101 74 Ligg & Myers 'B’ll3 113 113 11374 Lorillard 25 2474 25 24% Phillip Morris 62 62 62 6174 Reynolds Tob B’ 5674 5674 5674 567* Rails— Atchison 5774 57% 5774 5774 Atl Coast Lines. 34% 33 74 34 74 33% B & O 1774 1774 17% 17% Can Pacific 11% 11% 11% 11% Ch fc Ohio . 52% 52 74 52 74 52% Chi &Gt W pfd 574 5 5 5% CM Sc St P .... 17, 1% 174 1% Chi N W 3% 374 3% 374 Del a & Hud ... 40% 39 . 40% 38% Del Lac & W ... 18'4 17’% 18V, 18 Erie 13% 13% 13% 13% Erie pfd 1874 1874 1874 1874 Grt Northern pf 35 34% 35 33% 111 Central 22 217, 22 21% K C Sou 12% 127* 1274 1274 Lehigh Valley .. 107, 9% 107* 10 Lou & Nash ... 62 61% 61% 6174 M K Sc T 674 674 674 674 MK & T pfd... 15 s , 15%. 1574 15% Mo Pac pfd .... 474 47* 47, 4 s , N Y Cent 28% 28% 28% 28% N Y New Haven 474 474 4*4 4V, Norfolk Sc West 20974 209 209% 20974 Nor Pacific 24% 23% 24V* 25V* Penn R R 3274 32 32% 32 Reading 39% 3974 3974 39 Sou Pac 2574 24% "2474 2474 Sou R R 1574 15 15 15 Union Pac 1107', 109% 110 1107, Wabash 2% 2% 2% 2% West Maryland.. 974 974 974 974 Equipments— Am Drake Shoe. 41% 4174 41% 4174 Am Car & Fdy.. 30% 29% 3074 30 s , Am Loco 26% 2674 2674 26 74 Am Steel Fdy... 23 74 23 74 23 % 23% Bald Loco ...... 4% 474 474 474 Gen Am Tk Car 47 7, 467, 4774 46% Gen Elec 3874 3 8 3874 38 7, Gen R R Sig ... 39% 39 3974 38% Pullman Ino ... 3874 3874 3874 3874 West Air Br ... 33% 3274 32% 33 Wesingh Elec .. 9374 93 9374 93 Utilities— Am & For Pwr. 774 774 77, 7% Am Power & Lit 8% 8% 8% 8% AT&T 1607* 157 16074 158% Am Wat Wks ... 21 2074 21 207, Col Gas & Elec. 14% 1474 1474 14 Comm & Sou •. 2% 2% 274 2% Consol Gas . .. 3374 32% 33 74 3 374 Elec Pwr & Lit. 574 574 5% 5% Int Hydro Elec.. 4 4 4 4 Interboro R T .. 18 18 18 1774 Int T & T 1374 13% 1374 1374 Lou G & E “A". 20% 20% 20% 2074 Nat Pwr & Lit.. 1074 10% 1074 107, North Amer .... 26% 26% 2674 2674 Pac G & E 30% 30% 3074 30 '4 Peoples Gas ... 4274 4074 42V* 40% Pub Serv NJ .. 4474 44% 4474 44% So Cal Edison.. 25 25 25 24% Std Gas 574 574 5 % 57, Stone Sc Webster 12% 12% 127, 1274 United Corp ... 7% 7% 7% 7% Un Gas Imp 17% 17'/, 17% 1774 Ut Pwr & Lit, 'A' 374 3% 374 3% Western Union.. 7174 11 1174 117, Rubbers— Firestone 2174 21 21% 20% Goodrich 12% 12 1274 12% Goodyear 22% 21% 22% 21% U S Rubber - . 15% 1574 15% 17% U S Rubber pfd. 43% 43 74 437, 43% Miscellaneous— Allis Chalmers . 3374 3374 33% 337, Am Can 139 139 139 138% Am Mach Sc Fdy 31 31 31 317, Anchor Cap • 16% 16 16 1674 Brklyn Man Tr. 42% 42% 42% 4374 Burroughs Add ■ 25% 25% 25% 25% J I Case 100% 100% 100% 100% Conti Can 91% 91 91% 90% Caterpillar Tract 57% 57% 57% 57% Crown Cork .... 4674 467, 46% 4674 Curtis Pub 22 s , 21% 22 5 , 22'., Deere &Cos 52 74 52% ••• 51% Eastman Kodak 161% 161% 161% 161% Foster Wheeler. 24% 2374 24% 23% Gillette 17% 17% 17% 17% Glidden 4574 45 s , 45% 45% Int Bus Mach .186 165 186 185% Inter Harv .. 61% 61 s , 61% 61% Natl Cash F' 22% 21 s , 22 5 , 21% Owens Bottle . 12174 121*4 121% 122 Rem Rand ... 17 16% 16% 17 Underwood E .. 84% 84% 8474 84% Foods— Am Sugar 53 , 52% 53 52 s , Armour .... . 5*4 1 57, 57* 574 Armour 6% pfd 69 “68% 68 s , 69°4 Borden Prod ... 26% 26 5 , 267, 26% Cal Packing • • 35% 35% 35% 36 Can Dry G Ale 14 13 s , 13 s , 1374 Coca-Cola .. 75 75 75 75 Cont Bak “A".. 10*4 10% 10% 107, Corn Prod ..... 69% 6974 69% 69 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 Bid. Ask. Belt RR Sc Stk Yds com 50 52 V* Belt RR Sc Stk Yds 6% pfd... 52 Central Ind Pow 7% pfd ... 16 19 Home Tel&Tcl Ft. Wn 7‘/* pfd 5074 52 Hook Drug Inc com 14 17 Ind & Mich Elec 7% pfd 99 102 Ind General Service 89 93 Ind Hydro Electric 53 57 Indpls Chain Sto Term pfd... 52% 6274 Itidpls Gas Cos com 3874 42 •Inapis Pow & Lt 6 pfd 80 84 •Indpls Pow & Lt 6% pfd 86 89% Indpls Water 5% pfd 102*4 North Ind Pub Svc 574% pfd.. 67 70 North Ind Pub Svc 6% pfd.. 75 79 Progress Laundry com 674 •■ • Pub Svc of Ind 6% Dfd 12 15 Pub Svc of Ind 7% pfd 30 34 So Ind Gas & Elec 6% pfd.. 93 97 Terre Haute Elec 6% pfd ... 80 84 Union Title com 18 20 BONDS Atlanta Distr Term 6% '4l ... 6274 70 Buffalo Distr Term 6% ’4l ... 70 80 Brooklyn Postal Sta 5%1i ’4B .37 74 4 2 Home Tel&Tel FtW 5% 74 ’35.. 103 105 Home Tel&Tel FtW 6% ’43 . 103 106 Indpls Railways Inc 5% ’67 ... 50 53 Indpls Water 474% '4O ....105 107 Indpls Water 5% ’SO Sc '6O 105 107 Indpls Water 5%% ’53& 54 10374 105 Interstate TANARUS& T 5%'“, '53 ..93 96 Kokomo Water Works 'SB ...104 10574 Lafavette Telephone 5% '57 102 Morris 5 & 10 Stores 5% ’SO 99 102 Muncie Water Works S'* ’65 .102% Noblesville HL&-P 6*2 ’47 .. .. 97 100 Ohto Tel Service 6% 47 . 95 Richmond Water Works 5<V57 104% 106 St. Louis Post Office 574% ’3B 18 25 Seymour Wtr Ist mtg 5% ’59 101 104 Terre Haute Water Wkss% ’56 10174 10374 Terre Haute Wat Wks 6% '4ll OS 105 Traction Terminal 57* '57 .... 69 73 •Ex. div. ■*

INDIANAPOLIS, FRIDAY, DECEMBER 6, 1935

Crm of Wheat .. 37V* 37% 3774 37 Cuban Am Sugar 6% 57* 6% 6 Gen Baking 12 12 12 12 Gen Foods 33 32% 33 33 Gold Dust 20% 20 20% 19 s , G W Sugar 327* 32% 32% 32% Int Salt 26 26 26 25% Loose Wiles .... 40% 40% 40% 40% Natl Biscuit .... 34% 34% 38% 33% Natl D Prod ... 19% 19% 19 s * 19 s , Purity Bak 14% 14% 14% 14% S Porto Rico Sug 26% 25 s , 25% 26 Std Brands ... 14 s , 14% 14 s , 14 s , United Fruit . 67% 67% 67 s , 67% Ward Bak B”. 2% 2% 2 s , 2% Retail Stores— Assd Drv Good . 18% 17% 18 17*4 Best &- Cos 56% 56% 56% 56% First Natl Stores 47% 47 47% 47 s , Gimbel Bros .... 7% 7% 7% 7 Gr Un Tea ... 3% 3% 3% 3 s , Hahn Dept Sts.. 8% Bs,8 s , 8% 8% Jewel Tea 61*8 61% 61% 61% Kroger Groc ... 27 26 s , 26% 26% Macy R H 54% 52% 53 s , 53 McCrorv St 13% 13 s , 13 s , 13 s , Marshall Field.. 13 12 s , 127* 12 s , May Dept St... 55% 55% 55% 55% Mont Ward 39% 38% 39% 38% Natl Tea 9% 9% 9 s , 9% Sears Roebuck . 67% 66 5 , 66% 66% Woolworth 567* 56 56% 56 Aviation— Aviation Corp .. 4% 4% 4% 4% Boeing Aircft .. 13 s , 13% 13% 13% Curtiss Wright . 3% 3% 3% 3 s , Curtiss Wr "A”. 9% 9 9% 9 Douglas Air 34 5 , 34% 34% 34% Nor Am Av .... 67, 6% 67, 6*4 Sperry Corp ... 12% 12% 12*, 12% Uni Aircft New. 22% 22% 22% 22% Chemicals— Air Reduction ..169% 168% 168% 169% Allied Chem ... 161 161 161 161 Am Com Alcohol 31% 31% 31% 31% Col Carbon 95% 94 94 94 Com Solvents .. 21% 21 21 2174 Du Pont 139% 13874 139% 138 Liquid Carb .... 36% 36 36 36% Math Alkali 3174 31 31*4 3174 Monsanto Chem. 89 89 89 83% Natl Dis (new). 32 31% 31% 31% Schenlev Dist . . 54 54 54 53 s , Tex Gulf Sulph) 31% 31% 31% 31 s , Union Carbide . . 72% 72% 72% 71% U S Ind Alcohol 4774 4774 47% 47% N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Util. Bonds. Today 91.1 83.2 103.2* 92.5* Yesterday 91.0 83.0 103.0 92.3 Week ago 91.0 81.5 102.8 91.8 Month ago 90.3 79.1 102.3 90.6 1035 high 91.4 86.4 103.1 92.3 1935 low 83.6 71.0 89.3 83,0 •New high. (Copyright, 1935, by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasurys Prev. Close. Close. 474s 1947-52 115.3 115.1 4s 1944-54 110.22 110.25 3%s 1946-56 108.30 109.4 3%s 1940-43 107.16 107.7 3 3 /gS 1943-47 106.8 106.9 3%s 1941-43 107.17 107.19 3 74s 1943-45 105.10 105.10 3%s 1844-46 105. 104.29 37,s 1946-49 103.18 103.18 3 7sS 1949-52 103.12 103.13 3s 1951-55 102.19 102.19 3s 1946-48 102.18 102.16 2%S 1955-60 100. 100. 274s 1945-47 100.21 100.20 Home Owners Loan Corp. 2%s 1949 99.19 99.16 3s 1952 100.26 100.22 Federal Farm Mortgage Corp. 3* 4s 1964 102.11 102.16 3s 1949 100.28 100.30 3s 1942-47 100.7 100.90 2%S 1947 100.1 100.2 DOMESTIC Prev. Close, close. Alleg Corp 5s ’44 87 8774 Alleg Corp 5s ’49 7874 1872 Alleg Corp 5s ’SO 54% 55 Am Frgn Pow 5s 2030 6774 6774 Am Tel & Tel 574s ’43 11274 113 Am Tel Sc Tel 5s ’65 11374 113V 2 Arm Sc Cos (Del) 574s ’43 94*4 .9474 Atl Coast Line 4s ’52 97% 96% Atl Coast Line 474s ’64 87 85 Atch Top & S Fe 474s ’4B 1087, 108% Am Wat Wks 5s ’44 111% 110% Am Rolling Mills 5s ’3B 1227, 123% Balt & Ohio 5s ’95 7574 75 Balt & Ohio 6s '95 857* 55 s /, Balt & Ohio 4>/4s '6O 61 61 Buff Roch & Pitt 4%s ’57 66 65% Chi Milw Sc St Pss ’75 14% 15% Chi Milw & St P 5s 2000 674 7 s , Cleve Un Term 5s *73 100 99% Cleve Un Term 4 Vis ’77 9212 &2vs Col Gas 5s May ’52 99*4 987* Col Gas 5s ’Gi 987, 98% Can Pac Ferp 4s 84 7 /* 847, Cent Pas 5s ’6O 88 87 Big Four 474s ’77 76% ■* Big Four 5s ’63 8372 83 Colorado &So 474s ’BO 5874 57% Chi Sc West Ind 4s ’52 98% 9974 Chi & West Ind 574s ’62 1067, 106 Chi & Nor West 474s ’49 12% 127* Chesa Corp 5s ’47 118% *is! Del & Huds 4s ’43 77% 78 N Y Dock 4s ’sl 68% 68 N Y Dock 5s ’3B 5874 57% Erie 5s ’75 697* 69% Frip S<: ’67 70Vz 69 v* Gen Cable 5%s ’47 100 100% Grt Northern 7s ’36 10374 03 /, Grt Northern 474s ’76 94 93 * Grt Northern 4Vis ’77 94 93% Gen Stl Cast-WW 574s ’49 ... 86% go/* Hud & Manhat Ref 5s ’57 8174 81% 111 Cent 474s ’66 63 74 62 7a 111 Cent Jt 474s ’63 65% 66 111 Cent 5s ’63 6974 70 Interlake C Sc I 5s ’sl 84 85 Interntl Hy Elec 6s ’44 4774 477, Interntl Tel & Tel 474s ’32 ... 86 84% Interntl Tel & Tel 5s ’55 .... 77 (6% Interntl Tel & Tel 474s ’52 ... 73% 7 1 P Lorillard 7s ’4l 12974 130 McKess Sc Rob 574s ’SO 102% 103 Natl Dairy s'/,s ’4B 1047* 104 Natl Steel 5s ’56 106 105% Nickel Plate 4V 2 s ’7B 69% 68% Nickel Plate 5%s ’74 79'/4 78% Nickel Plate 6s ’35 84% 84 N Y Cent 5s 2013 79*4 30 N Y Cent 474s 2013 (old) 737, 737, Nor Amer Cos 5s ’6l 1037/, 103% Nor Pac 3s 2047 72% 7274 Nor Pac 474s 2047 88% 83% Nor Pac 6s 2047 1037, 1027, Nor States Pow 5s ’4l 106% 106% New Orleans Term 4s *53 ... 81% 87 74 Otis Steel 6s ’4l 102 10274 Penn Rv 4%s ’B4 105 104% Penn Ry 474s 'Bl 104% 197% Penn Rv 4%s ’7O 93V, 98*2 Pac G Sc E 5s -’42 10574 1C5% Portland Gen El 474s '6O 73 72% Para Publix 5%s ’SO 90% 83% Penn P Sc L 4'4s 'Bl 105% ICV4 Postal Tel Sc Cab 5s '53 35% 367, Rem Rand WW 574s '47 104% 10474 Shell Union Oil 5s ’47 10372 103 Sou Pac 4%S ’6B 77% 7774 Sou Pac 4%s ’Bl 77% 77 Sou Pac 474s '69 77*4 78 Sou Pac 4s ’49 8174 8174 Sou Rail 4s '56 53 53*4 Sou Rail 6s ’56 68*4 69% Sou Rail 6%s *56 71 71% Sharon Stl Hoop 574s ’4B 102% 102 s , Texas Pac 5s ’BO 92% 92*4 Texas Pac 5s *79 93 93 Texas Pac 5s ’77 93*4 9374 Union Pac 4s ’47 111% 111*4 United Drug 5s ’53 9574 95*4 U S Rubber 5s ’47 100% 100% NY NH Sc Hart 6s ’4B 33 327, NY NH & Hart 4%s '67 32% 3174 Warrer Bros 6s ’39 8772 8774 Western Mary 574s ’77 105 104% Western Marv 4s ’52 95% 95*4 Youngstown S & T 5s ’7O 102 101*4 Youngstown S & T 5s ’7B 102% 101 s , FOREIGN Argentina (A) 6s ’57 98 97% Argentine (B) 6s ’SB. 98% 98% Brazil 8s ’4l 27 27% Canadian Govt 4s *6O 105% 10574 Denmark 5%s ’55 10074 100% German 574s ’65 2974 29 German 7s '49 397-4 39% Italy 7s ’sl. 60% 60 Japan 674s ’54 98% 98% Polard 7s ’47 ....105 —104% Rome 6%s ’52 50% 50‘/4 Tokio City 5%s ’6l 79 79 Yokohama 6s ’6l 8374 8374 Busigraplts THE COST OF LIVING (national industrial conference board) i ijipiipii um'zfdmMn i*° V/V/VsY/ YWXY/V/Y/wA/X'/ y ± // v Y/ v 'DOTTED LINE IS THE PAST; 'A y//// Y/ 'y TEN years average of y Y // Y Y same months c Iwl uiiF' T ANARUS THE PARKER CORP. GENERAL DISTRIBUTOR* INCORPORATED INVESTORS The cost cf living is steadily climbing upward. According to the National Industrial Conference Board's figures, for every S'O spent for living necessities in October of last year it required an expenditure of $10.35 in October this year. In fact, the cost of living ir October was the highest for any month since November, 1931. There is some consolation in the fact that living costs are practically 17 pier [Cent less than in October, 1929.

Drugs— Lambert 24'4 23% 24% 23% Lehn Sc Fink .. 12% 12% 12% 12% Sterling Prod .. 65% 65 s , 65 5 , 64% Un Drug (new). 11 s , 11 s , 11 s * 11% Vick Chem 42 42 42 42% Prod .... 5% 5% ss,5 s , ss,5 s , Financial— Adams Exp .... 10 9% 9% 9% Allegheny Corp . 3% 3', 3*, 3% Am Int Corp ... 10 s , 10 s , 10 s , 10 s , Chesa Corp .... 60 59% 60 59% Tr Conti Corp.. 7 s , 77, 7 s * 7 s , Building— Am Radiator .. 22% 22 22'4 22 s , Gen Asphalt ... 21', 21*4 21', 20 s , Holland Furnace 29% 29 29 28% Int Cement .. 34 5 ,335,4 5 , 3474 34% Johns Manville .93 9274 9 3 92% Libbv Owens Gls 46 46 46 45% Otis Elev 26 5 , 25 s , 26 25 s , U S Gypsum ... 83 s , 83% 83% 837, Household— Congoleum 43% 4374 43% 4374 Kelvinator ... 14% 14 14 14', Proc Sc Gamble. 47 46*4 47 47% Servel Inc 14*4 14% 14*4 14% Simmon' Bed .. 17*4 17*, 177, 177, Textiles— Belding Hem ... 13*4 13% 13% 13% Celanese Corp .. 28 s , 28% 28% 28% Collins Aikman.. 45 44 44 44% Gotham Hose .. 9% 9% 9% 9% Kayscr Julius .. 26% 26*, 26*, 26 s , Real Silk I 9*, 97, 974 97, Chicago Stocks (By Abbott, Proctor Sc Paine! 11:30 Prev. A. M. close. Butler 3*4 3', Chicago Corp 4% 4V, Cities Service 2% 2% Com Sc Edison 97 36% Conti Steel 42 % 427, Cord 5% 574 Crane 22*, 22% Elec House 17% 17% Gen House 4 374 Grt Lakes 28% 28% Iron Fireman 28 27*4 Lynch Glass 36% 36% Pub Servos 111 52% 52 Swift ...: 19% 20*4 Swift, Int 33 74 33% New York Curb (By Abbott, Proctor Sc Paine) 12 noon Prev. N. Y. close. Alumn Cos of Am 90*/, 90% Am Cyanide “B” 2974 29% Am Superpower 274 274 Atlas Carp 13 74 1 374 El Bond & Share 15% 157, Ford of Europe 8% 87, Hiram Walker . 32% 32 7a Imperial Oil Ltd 2074 20 Nia Hud Pwr 9 9 Pan Am Airways 41 s /, 41*4 P>an Road 3 s , 3*4 Wright Hargraves Min 7*4 774 Chicago Grain Futures (By James E. Bennett & Cos.) 11:30 Prev. Wheat— High. Low. A. M. close Dec 9674 .95 5 , .95 s , .95*/, May 95% .95% .957, .95% July 897, .89 7, .8974 .89 Corn— Dec 57 7* .57 74 .57 74 .57 May 59% .58*4 .58*4 .58*4 July 60% .6074 .6074 .60% Oats— Dec 25 .24*4 .24% .24*4 May 26*4 .26% .26*4 .26-% July 27*-, .2774 .27% .2774 Rye— Dec 47*4 .47*4 .47% .47*4 May 50 s , .5074 .507, .50*4 July 51 74 .51 74 .51 74 .5 17a LOCAL CASH MARKET City grain elevators are paying 87 cents for No. 2 soft wneat. Other grades on their merits. Cash corn new No. 4 yellow 46 cents and oats 19 cents. Other Livestock (By United Press) CHICAGO, Dec. 6.—Eggs—Market steady. Receipts, 1696 cases; fresh graded firsts, 2974 c; extra firsts. 3074 c; current receipts, 27@28c; dirties, 20@21c; checks, 19@20c. Butter—Market, steady; receipts, 5116 tubs; extra firsts (90-91% score). 32*,4(§33c; extras (92 score), 3374 c; firsts (88-8974 score), 31@32c: seconds (86-8774 score), 30c; specials, 33*/i(S3 4 74c; standards, 32*,4c. Poultry—Market, steady; receipts, 22 trucks; ducks, 15(ol8c; geese, 13(514c; spring chickens, 19@21c; hens, 17'4@20'4c; turkeys, 20(g22c; Leghorn hens, 12@1474c; old roosters. 14c. Chese —Twins, 18@187ic; daisies, 1874@18*,4c; Longhorns, 18*4 (a 1974 c. Potatoes —Supply moderate; demand very slow; market about steadv; Idaho Russet Burbanks, [email protected]; U."S. No. 2, $1.25; Wisconsin round whites. $1.15@ 1.20; Michigan Russet rurals, $1.20; Minnesota and North Dakota cobblers. [email protected]; early Ohios, [email protected]: Colorado McClures, Sl.so(@> 1.55; U. S. No. 2, $1.00; Nebraska and Wyoming Bliss Triumphs, $1.40 @1.4274; South Dakota early Ohios, $1.0774. Arrivals. 68; or. track, 296; shipments, 540. DEMAND INCREASES FOR U. S, SECURUES $900,000,000 in Government Bonds Offered Public. By United Press WASHINGTON, Dec. 6.—Demand was so heavy for this week’s $900,000,000 government security offer that large subscribers were alloted only 19 to 23 per cent of the bonds subscribed, Henry Morgenthau Jr., Secretary of the Treasury, said today. Subscriptions for the $450,000,000 of 10 to 12 year bonds amounted to $2,034,000,000. Subscriptions up to SSOOO were alloted in full and above that figure 23 per cent. Subscriptions for the notes amounted to $2,486,000,000. Allotments were made up to SSOOO in full and above that figure 19 per cent. RAILROAD CREDIT CORP. RETURNS $28,699,513 Emergency Freight Revenues Given to Participating Carriers. Times Special WASHINGTON. Dec. 6. Tne Railroad Credit Corp. has returned to participating carriers, through liquidating distributions, $28,699,513 of the emergency freight revenues pooled under their marshaling and distributing plan for the purpose of making loans to member roads to prevent default in the payment of fixed interest obligations, according to thq, November report filed today with the Interstate Commerce Commission. In a letter accompanying the report, E. G. Buckland, president of the corporation, said that cash receipts in November totaled $910,586, including payments of $881,115 in reduction of loans. Under the terms of the plan any surplus funds developed through such collections are distributed to the participants and the twentysecond of these distributions, amounting to $2,207,655, or 3 per cent of the pooled fund, was made Nov. 30, returning $1,161,334 in cash and $1,046,321 in credits. PAYS BACK DIVIDENDS Times Special NEW YORK, Dec. 6.—Directors of Burdine’s, Inc., a Miami department store, today cleared up dividend arrearages on the preferred stock with declaration of a dividend of $3 a share on account of accruals. A regular quarterly cash dividend of 70 cents a share on the preferred stock also was declared. U. S. ORDERS TRUCKS LANSING. Mich., Dec. 6.—The Reo Motor Car Cos. has received an order from the Department of Agriculture calling for 920, two to three-ton dump trucks and 279 one and one-half-ton dump trucks to cost over $1,000,000, Don E. Bates, president, announced today.

FEDERAL BANK CHANGES MADE UNDER'3S ACT Drastic Shakeup Within Reserve System Is Under Way. BY RICHARD L. GRIDLEY United Press Staff Correspondent WASHINGTON, Dec. 6—A drastic I shakeup in personnel of the Federal Reserve System under the 1935 banking act giving the Administration new control powers was under way today. The retiring Federal Reserve Board, which ends its duties Feb. 1, ordered terms of office of the present chairman at each of the 12 Federal Reserve Banks to expire March 1, thus giving the new board a chance to appoint its selected officers. At the same time, it retired as Class C directors. Owen D. Young in the Federal Reserve Bank of New York; James Simpson in the Federal Reserve Bank of Chicago and E. R. Brown in the Federal Reserve Bank of Dallas. These officials have served in excess of the six-year term fixed as maximum for this office. Evansville Man Reappointed Two other Class C directors, E. S. Burke Jr., of Cleveland and J. R. Stanley of Evansville, Ind., were reappointed as Class C directors. They have not yet completed six years of successive service. The banking act of 1935 established anew Federal Reserve Board of seven members to replace the present board of eight members. The new board, to be known as the Board of Governors of the Federal Reserve System, is to have wider power over operation of the Federal Reserve Banking System. It will appoint as Class C directors, three of the nine directors of each of the Federal Reserve Banks. The position of governor of each of the banks w : ill be abolished and a new position of president created. Eccles Likely Choice He will be selected by directors of the bank on the approval of the new board of governors at Washington. The latter board will name the chairman of the board of directors of the 12 banks. Thus, the Administration through the newly formed Board of Governors of the Federal Reserve System is given added powerg over management of the banks. Other control measures are contained in other sections of the banking act. President Roosevelt recently said he would nominate Marriner S. Eccles, youthful and progressive Utah banker and present head of the board, to the position as chairman of the new board. The other six vacancies have not been filled and it was believed only a few of the present board members would be selected to head the new board. Four Vacancies Not Filled Under the old board’s policy to refrain from appointments extending beyond its own term, eight present regional bank board chairmen had their terms cut off March 1. Four vacancies are not to be filled. Terms extended until March 1 are those of F. H. Curtiss of the Federal Reserve Bank of Boston; J. H. Case, New York; R. L. Austin, Philadelphia; W. W. Hoxton, Richmond; E. M. Stevens, Chicago; J. S. Wood, St. Louis; J. N. Peyton, Minneapolis, and C. C. Walsh, Dallas. Named as deputy governors until March 1 when they presumably become vice presidents were Allen Hollis, Boston; E. S. Burke Jr., Cleveland; F. A. Delano, Richmond; W. H. Kettig, Atlanta; Paul Dillard, St. Louis; H. P. Clark, Minneapolis; E. P. Brown, Kansas City; S. B. Perkins, Dallas, and W. N. Moore, San Francisco. OCTOBER EXPORTS OF FARM MACHINERY UP Increase of 29.5 Per Cent Reported Over Same Month of 1934. Times Special WASHINGTON, Dec. 6.—Exports of American farm machinery during October showed an increase of approximately 20.5 per cent over the corresponding month last year, but a slight decrease below September, 1935, according to a report released today by the Commerce Department. Exports during the month amounted to $2,243,957, compared with $1,862,271 in October, 1934, and $2,718,987 in September this year, the report showed. “The new tariff rates going into effect Jan. 1, 1936, with respect to exports to Canada are expected to have a marked effect on the improvement of farm equipment business with that country,” the Commerce Department reported. BONDS ARE PAYABLE Lake County Holders of $550,000 Defaulted Issues Notified. Times Special CROWN POINT, Ind., Dec. 6. Holders of $550,000 defaulted bonds and interest coupons in Lake County have been notified that paymen will be made upon presentation < the issues at the office of Jose* i E. Finerty, County Auditor, or ,t the Commercial Bank here, it *as announced today. The bonds and coupons whicl will be paid were due and payab’i on various dates between Nov' mber, 1934 and 1935. SUBMITS LOW BID By Vnited Press WASHINGTON. Dec. 6.—Dinwiddle Construction Cos., San Francisco, today was apparent low bidder of $82,500 for construction cf the Redding (Cal.) Post Office. The only other bid was one of $113,800 submitted by William Spivotk. GROSS EARNINGS GAIN Times Special CHICAGO, Dec. 6—Gross earnings of the Engineers Public Service Cos. and subsidiaries for the year ended Oct. 31 amounted to $44,714,170, compared with $43,358,822 in the preceding year, it was reported today.

Governmeht Workers at New High The number of Federal government workers rose to a 17-year high of 796,297 at the end of October with a gain of 16,830 during the month, according to a Civil Service Commission report.

PROBABLE BOARD HEAD

Marrinpr S. Eccles

PORKERS SHOW UNEVEN TREND Prices Steady to 20 Cents Lower at Local Stockyards. A further sharp increase in receipts today at the Indianapolis Union Stockyards resulted in an uneven trading range in the pork market. Prices were steady to mostly 20 cents lower than yesterday's strong average. Receipts were estimated at 8000. compared with 6000 on hand in yesterday’s session, of which approximately 480 remained unsold. Heavy supplies reported at surrounding livestock markets was a depressing factor. This resulted in a weak demand at the local exchange. Despite the sharp decrease the top price paid for good and choice grades held above the $lO level. The geneial bulk of 160 to 225 pounds cashed in at $lO to $lO.lO, while medium heavyv eights, scaling from 225 to 300 pounds, sold at $9.83 to $9.95. Butcher grades, weighing from 300 pounds and upward, brought $9.55 to $9.75. Light slaughter pigs, from 100 to 160 pounds, held at $9.25 to $9.75. Packing sows ranged from $8.75 to $9.50. With a week-end cleanup trade prevailing on low-grade slaughter steers in the cattle market, practically all classes remained unchanged. Steers and heifers, consisting large!:* of odds and ends, were valued to sell under $9. Beef cows sold at $4.50 to $6, while bulls brought $4.25 to $6. Receipts numbered 500. Vealer prices turned sharply 50 cents lower in early trading, with the bulk of good and choice grades selling from $10.50 to sll. Receipts were 600. Lambs were unchanged. The bulk ranged from $11.25 down, with a few better grades holding at $11.35. Fed western and yearling classes remained unsold. Slaughter sheep held at $3.25 to $5.25. Receipts were 600. HOGS Nov. Bulk. Top. Receipts 30. $ [email protected] SIO.OO 2500 Dec. 3. 9.80® 9.90 9.95 8000 3. 9.80@ 9.90 9.95 8000 4. [email protected] 10.05 4000 5. 10.00(5:10.10 10.15 6000 6. [email protected] 10.10 8000 Light Lights G4O-160) Good and choice.. $9.50@ 9.75 Medium 9.00® 9.60 Lightweights (160-180) Good and choice .. 9.75(5,10.10 Medium 9.25@ 9.75 (180-200) Gcod and choice... 10.00@10 10 Medium [email protected] Medium Weights (200-220) Good and choice .. 9.95(510.05 (220-250) Good and choice .. 9.90® 10.00 Heavyweights 1250-290) Good and choice .. (290-350) Good and choice .. 9.65@ 9 85 Packing Sows (275-350) Good 9.25@ 9.50 1350-425) Good 9 104? 9.40 (425-450) Good 9.00@ 25 (275-460) Medium 8.75® 9.15 Slaughter Pigs 1100-140) Good and choice... 0 25® 375 Medium 8.50® 3.50 CATTLE —Receipts. 500— (500-900) Choice $lO 75® 12.50 Good 9.00®' 11.50 Medium 6.75® 9.00 Common 5 25® 6.75 (900-1100) Choice 12.00®13.00 Good [email protected] Medium 7.50(3 9 50 Common 5.7505) 7.25 (1100-1300) Choice 12.25(3)13.25 Good 9.75® 12.25 Medium 7.50® 9.75 (1300-1500) Choice 12.25® 12.50 Good 9.75® 12.25 Heifers (500-750) Choice 9 [email protected] Good 8.26®} 9.75 Common and medium 4.75® 8.25 v 750-800) Good and choice... [email protected] Common and medium 5.00@ 9.00 Cow* Good 5 25® 6.25 Common and medium 4.25® 5.25 Low cutter and cutter 3 00@; 4.25 Bulls, good ; 5.75® 6.25 Cutter, com. and med. bulls.. 4.00® 5.75 VEALERS —Receipt*, 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 i Feeder and Stocker Cattle (500-800) Good and choice .... 6.50® 825 , Common and medium 4.25® 6 50 (800-1050) Good and choice.. 6.50® 850 j Common and medium 4.25® 6.50 Cows Good 5.00® 6.50 j Common and medium 4.00® 5.00 SHEEP AND LAMBS —Receipts. 3000— Lambs. 90 lbs. down, good and choice $10.50 311.50 Medium 8.75® 10.50 (90-1251 Good and choice. . 4.25® 525 All weights, common and medium 3.75® 4.75 (120-150) Good and choice... 3.25)3 *.25

Thomson & McKinnon MEMBERS NEW YORK f’HTf'Ar'fK ew T° rlt Stock Exchange TADimcT New Vork Curb Eic,iane TORONTO New York Cotton Ex^hansr* BOSTON New York Coffee and Sugar Exchange SOUTH BEND • New Orleans Cotton Exchange p)rp VV A Chicago Stock Exchange PU* vcxrii f p Chicago Board of Trad# E\ ANSY ILLE * Winnipeg Grain Exchange Indianapolis Office And other leading Exchange* 200-214 Circle Tower LI. 5501

BUSINESS MEN ARE TARGET OF BERRYJTTACK New Deal Co-Ordinator Hits Leaders Refusing to Attend Parley. By United Press WASHINGTON. Dec. 6.—Many business leaders have refused to attend the conference on industrial co-operation here next week because of an “imaginary fear thtit labor interests will dominate the meeting, George L. Berry said today. Mr. Berry, who. as Pres.dent Roosevelt's co-ordinator of industrial co-operation, called the conference. asserted some industrial leaders “prefer to indulge .n a bad case of NR A jitters rather than face squarely toward the realities of the present and future.” Replies from 5000 invitations to the conference reveal, Mr. Berry said, that a large body of industry and labor is in accord on the question that some way must be found to get the millions of unemployed back on industry pay rolls, and to stop the "rising flood of business taxation.” He termed fears that labor interests would dominate the conference “ridiculous and untrue.” He said the NRA is “dead, indeed” and that “no one faces that fact with more conviction than I.” Roper to Reorganize Council Unemployment and taxation apparently will be the predominant topics of conversation at the convention, he declared. All subjects to be discussed, he said, “have come as suggestions from industry and labor.” Meanwhile, Daniel C. Roper, secretary of commerce, announced a reorganization of his Business Advisory Council designed to restore it to its original strength of 52 members by Jan. 1. Under his plan, the 26 oldest members will resign and their places will be taken by new members. The council originally was created by President Roosevelt in Jun. 1033, to wage a “war against depression.” Henry P. Kendall, Boston textile manufacturer and chairman of the group, admitted that all members did not agree with New Deal policy, but said there was no doubt as to the council's permanency. INSURANCE COMPANY RENTS LARGER SPACE American Income Leases Quarters in Circle Tower Building. The American Income Insurance Cos., located in the Meyer building for the last 11 years, has leased space in the Circle Tower and will move its offices to that building this week, Charles Scholer, president announced today. Larger quarters were purchased by the company, which was organized in 1924 under the Indiana insurance laws, in order to handle its increasing business, it was stated. The firm has enjoyed a steady increase in business and its premium income for the first 11 months this year, and shows a gain of 17% per cent over the same period of 1934. Mr. Scholer has been president of the company since its organization. Other offices include: Clarence C. Reupree, secretary; Elmer Johnson, vice-president; William T. Deupree, treasurer, and P. M. Carr, assistant secretary and treasurer. FOREIGN BONDS RISE 50 Representative Issues Increase 0.26 Per Cent in November. Times Special NEW YORK. Dec. 6—The of 50 representative foreign bonds advanced approximately 0.26 per cent during November, according to a report released today by the Foreign Bond Associates, Inc. The index advanced to 57.33 on Nov. 30 from 57.18 on Oct. 31 Sixteen South American issues rose 2.68 per cent, while 30 European issues in the index fell 0.56 p r cent, and the four Australasian issues fell 0.52 per cent during the month. ST ORE ROOM IS LEASED Studebaker Representative Acquires Space at 405 N. Capitol Ave. Lew Cohen, sales representative for the Studebaker Corp., has leasc’l a storeroom at 405 N. Capi:ol-a % where he is to open an agency, W. A. Brennan, Inc., realtors, announced today. The lease for the property was acquired from Mrs. Laura. B. E'der, wife of William L. Elder, the owner. The building, a one-story white brick structure, has a frontage of 50 feet and a depth of 90 feet. Redecorations of the interior are now underway.

A_ Commercial Banking Savings • Trusts American National Bank AT INDIANAPOLIS

Your Local Building & Loan Association Makes Modernization Loans and Loans on New Homes.