Indianapolis Times, Volume 47, Number 237, Indianapolis, Marion County, 12 December 1935 — Page 30

T rends London Parley Not Called to Cut Navies. RV JOHN T. FLYNN

VTEW YORK. Dec. 12—Naval ' conference* afMime .*n the public mind the character of meeting* to limit navies They are viewed as a branch of the general disarmament movement. But the current five-power meeting in London is not a conference to limit navies. It was called because Japan, one of the parties to the Washington agreement, had given notice of iter withdrawal from that agreement. That agreement fixeci a ratio of 5-5-3 in cap-

ital ships. That is for every five capital ships in Ihe British navy, the United States may have five and Japan three. Japan announces that she no longer can be bound by this limitut ion. a a a SHE wan t s the agree-

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ntent changed so as: ter refer to tonnage, giving her first tlie light to have an equality of tonnage with any other power, and second itie right to put that tonnage into any sort of vessels she wishes. Britain and the United States ate opposed to this. They also have some little ideas of their own. England would like to see the sue.;: of battleships limited. There was a 25,000-ton limit. But now 35 000ton ships are be*ng built or are in commission. Also, England would like to build some more cruisers. Italy wants to build more ships to give her equality with France, and France wants more tonnage because of Germany's new policy of naval expansion. a a a course it is perfectly plain that out. of such a collection of views no such thing as real limitation can come. All these gentlemen in London are interested in is krppmg for th.ir nations the advantages they posse s now or obtaining for their nations the advantages they do not possess. Talking about cutting battleships from 35.000 toils to 25.000 tons has nothing to do either with disarmament. or naval limitation. The simple lact is that all these conferring gentlemen are doing is making or attempting to make certain new rules for fighting t lie size of the weapons to be us. and and the number each is to have. It is important, therefore, that the public should get no misapprehensions about the pacific character ol this conference. a a a THERE is nothing pacific about it, any mote than there is in \ the meeting of the managers of i two fighters who come together to ngree on the size of the gloves and the hour of weighing in. In this situation the United States government is .scarcely better than the others. First, this government apparently leads the world in its naval preparations. When its present program of building is finished it will have more ships than any navy in the world —nearly 75 more than Britain. It will have almost as much tonnage as England. Every shipyard in America is working to capacity to turn out more war craft. It will take several years with our utmost capacity to finish thp present building program and consume the present appropriations. The President has iiist. added another 4000 men to the Navy personnel. Thus it can be seen that the United States is tattling the saber as diligently as ny nation. (Copyright, 19.15, NEA Service Inc.) BONDS A ICE CALLED 2 ..< Sftr, ini NEW YORK. Dee. 12.—The Consolidated Gas Cos. of New York has called for redemption $10,000,000 of its 530.000.000 5 per cent debentures, due July 15. 1957. it was announced today. The bonds will be redeemed at 103. Local Livestock HOGS )>e Bulk Top Receipt* 6 *lO 00'u 10 10 *lO 10 8000 7. 9 90(1 10 00 to no POOH 0 in OOfti 10.25 10 25 soon in 9 81'./to.oo 10 00 8000 11 9 70'.; 9 75 9 75 60011 12. 9.85 and 9.75 9 75 5000 Light Tight.* 'l4O-1801 Good and choice $9.3541 9 80 Medium .. 8 85'./ 935 Lightweight* 'l6O-180' Good and choice 9 80'./ 9 75 Medium 9 10.1 9 60 'IBO-300) Good and choice 960 u 9.75 Medium . 9.20'./ 9 60 Medium Weigh:* .200-220. Good and choice 9 70*/ 9 75 • 200-220 Good and choice 9.65'u 9.75 . Hra\*we,ghl* • 250-290' Good and choice 9 f.O'.i 9 70 • 290-350' Good and choice . 9 OOm 9.60 Peeking Sows '275-350. Good ... 9 10../ 9 35 • 350-425* Good 9 Oil'd 925 *OS-4501 Good 8.844* 910 • 2.5-4*o. Medium 8 7.4.) 9 On .100-1401 nod and choii e 9 104* 9 60 Medium .... 825 4r 935 CATTLE - Receipt* 800 (500-9001 Choice *lO 754* 12 50 Good 9.00(0 D ;.0 Medium 6.7549 9 00 Common ... 5 25*4 6.7’. <9OO 1100’ Choice 12 00U 13.00 Good 9 50<d12 25 Medium ... 750 41' 950 Common 5 75*i 7 2f (ItOO-nOO) Choicv 12 2.4113 25 Good 9 75® 12.25 I Medium 7 50w 9.75 (1300-1500' Choice 12 250 12 0 Good ■ . . - 9.7a ts 12 25 Heifer* (500-7501 Choice 9 7431100 Good 8 2541 9 75 Common and medium 4 75'.* 8 2' 4*150-8001 Good and choice ■ 9 004* 11 25 Common ana medium 5 00tt 9.00 Cow* Good 5 25 3 6 25 Common and medium 4 25ir 525 t.o*> cutter and cutter 3 0044 4 25 Brli*. good ; 5.753 825 Cutter, com. *nd med bull*.. 4 00W 575 V* 41 FR Receipt*. 600 - Good and choice *lO 504} 11 oo Medium 8 504/10 50 Pul! *nd common 4 .SPsi 8 50 Cl*e (240-400) cnod and choice .. 7 00 3 9 50 Common and medium 4 00® 7.C0 Feeder and Mocker Cattle (500-800) Good *nd choice . .. 6 50*? 824 Common and medium . 4 25 3 6.50 (800-1010. Good ar.d choice 6 4fl4i 850 Common nd medium 4 ?si*j 6.50 Cnwa Good .. . 5 004? 6.50 Common *nd medium 4 00® 5.C0 SHF F P AND lAMBS Receipts. 3500 Lamb* 99 lb* down, good and aho.ee *lO 254/ 11 00 Medium 8 5044 10 25 Ewe* • 90-ISS Good and choice 4 00® 500 A3 weight*, common and mlftnr. 3 so*? 4 50 , (12C>!50> Oood and cbdic*... 3 906 4.00 !

♦ ♦ Abreast of The Times on Finance ♦ ♦

PAGE 30

RENAMING TWO TO U. S. BOOT MOOT SUBJECT Porter and Aitchison Up For Reappointment to I. C. C. BV NKI) BROOKS Times Special Writer WASHINGTON, Dec. 12.—Presi- | dent Roosevelt has received conflict ing advice on the reappointment of two members of the Interstate Commerce Commission whose terms expire Dec. 31. it was learned today. The commissioners are Clyde B. Aitchison. Oregon Republican who has served 18 years, and Claude R. Porter. lowa Democrat completing iiis eighth year, 'the appointments are for seven-year terms, at SIO,OOO a year. Both incumbents have influential support for reappointment lrom •within the commission and from 1 bu.'iiie.-.s and political backers who believe their records merit their relent ion. Member of Finance Division Other suggestions have reached the President, however, that they should be displaced by ‘n of broader financial training. \..e 1. C. C.. these advisers say, is weak m its finance division, as manifest by past authorizations of railroad jsecurity issues upon which investors later lost heavily'. Mr. Porter is a member of the I. C. C.s finance division. Mr. AiLehison specializes in problems of valuations and tales, on which he is regarded as the commission's outstanding authority. Orders issued by the finance division indicate Mr. Porter has been a strong advocate of maintenance of adequate sinking funds to amortize railroad debts. REC Loans Involved Most of the cases routed through the finance division during his tenure have involved RFC loans io tailroads. In some of these, lie has voted to approve loans to which Commissioner Charles D. Mahaffie. leading finance authority, dissented. Opponents of Mr. Porter's reappointment argue that his training has not been on financial lines. In earlier years he was a perennial I office-seeker, having been a candidate five limes for the United States Senate and three times for the governorship of lowa. Appointed by Coolidge He served for eight years in the lowa Legislature, for four years as United States attorney in lowa and was special Assistant United States Attorney General during the war. lesigning in 1919. He was appointed to the I. C. C. by President Coolidge after serving as chief counsel of the Federal Trade Commission. Mr. Aitchison entered the commission in 1917 with a liberal background as chairman of Oregon's Public Service Commission. His sharp tongue has enlivened countless commission hearings. I. C. C. practitioners regard him as a capable lawyer with an uncanny memory of rate histories. Both men have disagreed frequently with Joseph B. Eastman, co-ordinator of transportation and tlie I. C. C.s No. 1 liberal. Opponents of their reappointment say that if they had possessed Mr. Eastman's | loresight in finance matters, much of the later loss to investors would have been avoided. Mr. Eastman, in his noted dissenting opinions, began foretelling the disaster to security issues in the early 19205. Produce Markets The price.* quoted Hie paid tor stock gathered in the country, while delivered in Indianapolis the price is a cent higher. He\> breed hens. 16c Leghorn breed hens 12c; .wpringers over lbs. 17c under lb> 16c; springers l - lbs. and up 12c: old cocks 9c. Turkeys Young nens 8 lbs. and up. 21c; young torus 14 to 18 lbs.. 21c: under 14 lbs. and over 18 lb>.. 18c; old hens. 18c old toms. 15c Ducks White. b lbs. and over. 13c: untie: 5 lbs.. 11c; geese full feathered and lat. 9 io 14 lbs . 12c: over 14 lbs 10c.: ole guineas. 15c: voung guineas, l lbs and up 25c: No. 1 strictly fresh eggs, loss off 27c pullet egg'. 18c. Each full case must weigh 55 lbs. gross, a deduction of 10c a pound tinder 55 lbs. will be made No 1 butter 35 ’'n 36 1 .<c No. 2 31 1 /*/ 33'.i butlerful, 32c. Quoted bv the Wad lev Cos. •By Uni led Press) CHICAGO Dec. 12. Egg' Market, weak: receipts 2492 cases liesh giacieci firsts 27 ■ c txira firsts. 28' c. current leceiots. 25m 26i dn lie> 20*d 21c: checks. 19c. Bu ter M.irke: e. s\ : receip s 4579 tubs; ext la firs s 190-91 1 score • 32M 32 ’c; rxtius .92 score •. V 2 c firsts tBB-87 J , cote 30 special' 3 . 'm33 Ac; standards Poul.rv Mallei steadv: receipts 40 tri.i.f ducks. Km 19c: gee e 16'17c pnng chickens 18 1 m 21 1 ( hens. 18’ urkej 23'a 2 c Leghorn hens 124a 17$ old roosters 14$ Chee e Twins 18m 18’< daisies. 18* </18e. longhorns. 13 4 'u 19t Po: aloes Supply moderate demand very Mow market dull with raiher ue. . undertone Idaho Ru>.‘et Burbanks *1 75h 180 U S No 2. $1.55: Bli^s I nuiinh' S-l 25 W.Mon.'in Round White*. sl.ls4riT 30 Michigan Green Mountains ML*: Mmiie c otp and North Dakota Cobblers sll7’. earlv Ohios Colo.adc McClures M.som 160 Wyoming B s$ li.umolis $1.55. Arrivals. 70; on track : 1 4 shipments 462 CREDIT IlfcAl) RESIGNS rime* Serial BALTIMORE Dec. 12.—Clarence \ Palit/.. one of the vice presidents of the Commercial Credit Cos. and president of the Credit Alliance Corn., a subsidiary, has resigned following his election as president of the First Manhattan Corp.

INCORPORATED INVESTORS —An Investment in Common Stocks— Founded 192fi in Boston, Mass. Prospectus, latest quarter!} report and other information available at our office Indianapolis Bond and Share Corporation 1-9 r *M*rhH St. Indianapolis Riley 4X51

INDIANAPOLIS, THURSDAY, DECEMBER 12, 1935

New York Stocks

iff Thomson <V McKinnon* 10:30 A M Prev. (til*— High Low. N. Y. clo*e. Amerada 73 73'. 73% 72 * A* I Rig 24 ■ * 24 * 24 , 24', Harn.oai) 14 13 i 14 13’, consol oil 16 * in*. io ; * io% Con) of Del .. 30 3O , 30-', 30 1 * Houston * ncv. i 6-, 6 , t o , Mia Coni Pet . 18'* 18 18 * 17onio Oil 12'* %'* 14 l2 s pc. Coi p 12 1 * 12 , 12'* 12‘* Pi,nap Pf 3.-. 3.3. , 36a. PivmolHh Oil 12 1 , 11 , 12‘.a 11‘a p...c On It 15*, 16 to a ,-paooa/d 0)3 34'* 31'* 32'* 31 1 * Shell Un 13 * la * la * la a .-.afiiev Oil 17 16% 17 16 * coc \a( 14 a 14 '. 14 a 14'a SO of Ca! 38 37 * 38 3 ‘% SO of lnd .30'* 30 80'* 2. 'a SO of N J 48 % 48'* 48' a 48% lexa. Coi p 26 25 * 26 25% Tidewater As.-n 13 12 * 13 12'a Un Oil of Cal . 21% 21 ‘a 21'. 21‘. Mill* 30 *. 30% 30% 30 ’. Beih Steel 48 . 48 48Jiz* Mio S eel . .22 21 a 21'a 2t * Oils Steel 16 a 16 a 16-a 16 a Hep Iron & Steel 18'* 18 a 18 * 18 a u.S Steel ... 46 J a 46*2 46 a * ‘ Motor*.— Chrysler 87 U 87 87_ 86 j * Uen Motor* ob'a 55 a oo'. ob • a Graham Mot . 3*< 3 * 3 ‘ ‘ Hudson • lo’a 16 * 16 ' .* Mara T.uclt 28 28 28 ‘ 26'! Pucfcard 7 < ?‘ 8 * 8 Ktu 5*4 3 4 3 ‘a 34 isiudebuker .10 'keiluw Truck . 8! 8 8 8 Motor Accfh* — He ud i>. .21 20*. 21 20'* Borg Warnei ! * • o*J z krivus 5T s‘Lt a Bliuu Mfg K < *’’* * f tit.ua Vvneel 1 - h \2 h # 1- a tin Auio Lite 3o• :< 3 4 is*a iiuudaillr B . 29 1 j. 29‘,, 29\z 29' t ivlutrav Body ... IS**** 1919 z 19 ,Mtv. Warner 17 * lGa Dt* 1* * Timken Hall 67 67 6i Timken i>ci Axle lira 10 e 10*a 10. Mini n c Alaska lun •• •14 '■* 14 H T 14‘h Am Metah 30 30 30 30 T Am Sineil . ... h 9 * 59 39'^ AhaCOlKia 26'8 2* B 28‘a 4 Cal Si Hecla s's ,s'a d‘ 6 Uciro De Ea.sco 56 ‘z 55 • b 33 * on‘a Dome Mines ■ 44 43* 43* 8 44 Ol Not Ore 15* a I 3 1 3 13 Howe bound ob‘g ihs Cupper 64 6 ; a 6 4 6 T lilt Nickel 44 1 * 44 a 44 1 44 t Kennecott Cop . 29 29‘z 28 -o*B Me 1111 vie Mine 39 T 39 a 39 a 39 T Park Utah 4-h 4 * 4 4;a Phelps Dodge 26'a 26‘a 26‘a 2d' a Si Joe I.eau ... 23 23 23 -4 U S Smelters .. 99‘a 98 * 98 U 89G Am usemeni* — Croxlev Radio .. 19 19 :i 19-* 19', Loews' Inc 53 53 53 54 1 , Radio Corp .12 11 ‘.a 12 11 ‘a Paramount . . . 10‘* Hi‘* 10 1 * 10*,a RKO 5 k 6 a 3-h S', Warner Bros ... 10'.* 10la 10!* 10'* Tobaccos— Am Tob -A" ... 95'* 95'* 95'* 95'i Am Tob "B ’ ... 97G 97 97 '/„ 98 Gen Cigars . .53 53 53 53 Ligg Myers B ,106'a 106',a 106 1 * 108'a Lorillard 24’* 24fa 24Va 25'Phillip Morris 62'* 61 ■* 62'* 61 :a Reynolds Tob B 56 ! * 56 :< a 56ta o6'a Kails— Atchison 57** 57'a 57'a 57'* A;i Coast Lines 32'* 32'a 32'a 32'* B A O 17 k 17 17 a 17 '* Cun Pacific .. 11 ■* lit* 11',* 11'* Cii Si Ohio 52 a 52 52! a 51' a C M & St P .... I'* 1 ; U lv* 1U Chi N W .33 33 Chi N W ptd . . 8 L 8!x S'a B'a Del Lac Si W. . Ifc'a lb--* 6:a 17',a Erie 12'/* 12V* 12V* 12'* art North pfd. 34’, 34'* 34V* 34'* 111 Central .... 20‘, 20’, 20", 20'* K C Sou . 13% 13' a 13% 14 V, N Y Cent 28 , 28 a 28 i a 28', N Y New Haven 4!* 4 4', 4 Nor Pacific . 23 22% 23 23 Pen H R 31% 31', 31% 31% Sou Pat- ..... .. 23% 23% 23% 24 Sou R R . . 14' a 14 14 14% West Maryland . 9’,* 9% 9% 91* Fi*oipnirnts— Am Car Si Ftiy 29% 29 29% 30 Am Loco .26% 26% 26% 26% Am Si eel Fdy ~ 23% 23% 23% 22% Bald Loco 4 a 4'* 4% 4' * Gen Elec 36% 36% 36", 37 Pullman Inc .... 38% 38% 38% 38'* West Air Bi ... 33% 33 33% 32% Westingh Elec . . 92% 92% 92% 91",* Utilities— Am & For Pwr . 6% 6% 6% 7% Am Pwr At Lit. 8% 8% 8% 8% AT&T .159'* 159 159'* 15/% Am Wat Wks. 21 20% 21 20% Col Gas & Elec. 14% 14 14% 13% Cotnm & Sou.. . 2% 2% 2% 2"* Consol Gas . . 32% 22% 32V* 31% Elec Pwr & Lit . 6 6 6 6 lutei boro R T . . 17 17 17 17 lilt T & T ... 13 a 13% 13% 13% Nat Pwr & Lt . 10% 10 10 10% North Amei .. . 26 25 * 26 25-* Pac G & F. .. 30% 30% 30% 30% Pub Sen N J 43% 437* 43% 44 Std Gas . 57* 57* 57* 5% Slone & Websier 14 13‘* 14 13'* Uniled Coip . ... 7 6 7 / 7 7 Un Gas Imp 17'* 17 17'* 17% Ul Pwr & Li A . 33 33% Western Union. 73% 72% 72% 73 Rubbers— Firestone 23% 23% 23% 22% Goodrich 12 11% 11% 12% Goodyear 21% 21% 21% 21% U S Rubber 15% 14’% 14% 15 U S Rubber pfd 43% 43 43 42% Miscellaneous— Allis Chalmers. 33% 33 33 34% Am Can .136- 136 136 136% Anchor Cap . 15% 15% 15% 157* Brklyn Man Tr . 417* 41% 41% 42 J 1 Case 101 100'* 100% 101 Conti Can 89 88% 89 88% Caterpillar Tract 56% 56% 56% 56'/* Curtis Pub 21% 21% 21% 21% Deere &Cos . 53% 53% 53% 52% Eastman Kodak 159 % 159'* 159% 159 f'osiei Wheeler.. 24 24 24 24 Gillette 17 )„ n 17 17 r 8 Glider* 48 * 48% 48% 48% Imser.soil Rand 117 117 117 117 liil Bus, Mach .190% 190 190% 190% Inter Han 61 % 61% 61% 61% Natl Cash Reg. 22% 22 22 22 , Rem Hand . ... 20% 20% 20% 20% Poods— Am Sugar 51% 51% 51% 51% Armour 5 4% 4% 4", Beatrice Cream. 17 17 17 17 Borden Prod . 26% 26% 26% 26% Cal Packing 14% 14% 14% 35% Coca Cola . 86% 85% 86% 84% Corn Bak A . 10% 10% 10% 10’ - Corn Prod . . 69% 69 69 69% Cuban Am Sugar 6 6 6 6% Gen Foods 33 33 33 32% Gold Dust . .... 19% IS 5 * 19% 19% Natl Biscuit 33% 33% 33% 34'.Nall D Prod . 20 19", 20 20 Std Brands ... 15 14% 14% 15 United Friut . . 65% 65'* 65'* 66 Retail Store*— Best & Cos. 55% 55% 55', 55a, Gimbel Bros 8% 8% 8% 8% Or Un Tpa 4% 4% 4% 43* Hahn Dept Sts . 8% B'% 8% 8% Kresge S S 26% 26'* 26% 26% Kroger Groc ... 26% 26 s * 26% 27 Mac.v R H ... 53% 53% 53% 54 McCrory Si ... 14% 14 14 % 141, McLellan St 13% 13% 13% 13% Marshall F.fld IS". 12% 12% 13'.: Mont Ward 40% 40% 40% 40% Natl Tea 9% 9% 9% 9% Penney J C 83% 83% 83% 83% Safewav St 35 35 35 35 Sears Roebuck 66% 65% 65% 66% Wool worth . 55% 55 55% 55"* Aviation— Aviation Coi p 4% 4% 4% 4% Boeing Aircft 13% 13% 13% 13% Curtiss Wright 3% 3% 3% 3% Curt Wright “A" 9% 9% 9% 9% Douglas Air 37'. 37% 37% 37 Nor Am Av 6% 6% 6% 6 Soerrv Corp 13% 13% 13% 13% Utd Aircrft New 23% 23'* 23% 22% Chemical*—■ Air Reduction . 166% 166% 166% 166% Allied Chem 158% 157% 158% 157', Am Corn Ale ... 30% 30% 30% 30% Com Solvents . 20% 20% 20% 20‘ Du Pont 138 137% 138 137% Fieepori Tex 27', 27% 27% 27% Liquid Caib . . 35% 35% 35% 35% Mai h Alkali ,30% 30% 30% 30% Monsanto Chem 88% 88% 88% 88 1 Natl Di 1 new 1 31% 31', 31', 30", Schenlev Disi 53% 53 53% 52', Tex Gulf Sulph 31 31 31 31 Union Ccrhide 70% 69 7 , 69% 70% U S Indus Ale . 47% 47% 47% 47% Drug*— Biistoi Mvera .. 41% 41% 41% 41% Coiv Inc 7% 7 7% 6% Lambert 23% 23% 23% 23% Sterling Prod . 64% 63 * 63'* 64%

Un Drug <newri . 12 , 12% 12% 11% Vick Chem 42% 42% 42 * 42% Zonite Prod ... 7 , 7 7% 7 Financial— Adams Exp 11% 11 11% 11% Allegheny Corp . 32% 2% 3% Am Int Corp , 10% 10', 10", 10", j Chesa Corp .. 59 59 59 59% I Lehman Corp .. 94% 94% 94% 94 ! Transamerica ..13 13 13 13 Ti Conti Corp .... ... ... 7% Building— Am Radiator ... 23% 23% 23% 23% • Gen Asphalt. 22% 21% 22 21 % Holland Furnace 30% 29% 30% 33% : Johns Manville 91% 91 91% 91'* ! Libbv Owens Gls 45 45 45 45% |Ol is Elev 25'* 25% 25 % 25% U S Gypsum .. 82% 82% 82% 82% Household— Coi Pai Peet ..18 18 18 18 Kel vina tor 14% 14 14 14 Proc & Gamble 46% 46% 46'.. 36% Serve! Inc .. 14'* 14% 14% 14% Simmons Bed .. 17% 17% 17% 17% Textiles—j Amer Woolen ... 9% 9% 9% 9% Belding Hem .. 13% 1.3% 13** 13% Celanese Corp 27% 27% 27’, 27% Collins Aikman . 48% 47% 47'* 47 ■ * Gotham Hose 9% 9% 9% 9% j Indus Ravon . . 30% 30 30 30 Kayser Julius 28'* 28% 28'* 27% Chicago Stocks •Bv Abbott, Proctor & Paine) 11:30 Prev. A. M. close. Allied Prod 22 22 | BerghofT 6% 6% j Butlei .. ... 9 9 Chic.. Corp. 4% 4% Chic. Corp Pfd 45% 45% Cities Service 2% 2% Conti. Steel . 41% 41", Com. & Edison 97% 97 Crane 24% 23 Elec. House .. 16", 16% Gen. House . 3■% 4 Grt. Lakes . 30% 29% Iron Firemen 29% 29% S Pub Servos 111 51% 53% Swift 20 1 * 20% j Zenith 14% 14% New York Curb (By Abbott, Proctor & Paine) 12 Noon Prev. N. Y. close. Am Cyanide ‘T2" 2ft / 29% Am Superpower 2% 2% i Atlas Corp . 13 13 1 Axlon Fisher Tob 53% 54 I Carrier Corp . 12 12% jEI Bond & Share 16% 16% 1 Fisk Rubber 6% 6'* ! Ford of Can A” 26% 26% j Ford of Europe 8% 8% | Hiram Walker 32%• 33 ! Imperial Oil Lid 20 20% ! Nia Hud Pur 8% 8% ! Pan-Am Airways . 4! 39 s * 1 Penn Road 3% 3% | Wright Hargraves Min 7% 7% Other Livestock IBv United Press) FORT WAYNE. Ind.. Dec. 12. Hogs— Steadv: 160 to 180 lb*.. 59.65: 180 to 200 I lbs.. $9.60: 220 to 220 lbs.. $9.55: 220 to 240 i lbs., $9.50; 240 Io 280 lbs.. $9.40: 280 to 300 Mbs.. $9.30; 300 to 350 lbs.. $9.15: 140 to 160 ! lb*.. $9.40: 120 to 140 lbs. $9.15: 100 to 120 i lbs. $8.90: roughs $9.50; stags $6.75.. Calves j —sll.oo. Lambs 10.75. •Bv Times Special) LOUISVILLE. Dec. 12. -Cattle Receipts. 300; salable supply slaughter cattle very light; killing quality plain; market generj ally steadv on all classes: bulk common 10 ! medium steers and heifers. ss.so'<i 7.50: j few common daii bred and off colored kinds j down 10 $5; belter finished fed offerings quotable to around $10; buwk beef cows. $4 50fri 5 50: practical top. $6; smooth 1 heifer lype cows quotable higher: low cut- ! ters and cutlers generally *3.25<ffi4.25: j most sausage bulls $5% 5.75; best heavies $6: most light heel t\pe Stockers and stock calves, quotable $5 754/7.75. Calves- Receipts. 225. including 50 stock calves: marI kel not established; early indications i steady at $9.50 ,10.50 for good io choice I grades. Hogs. Receipts. 600. market. S steady: lop and bulk 160 Io 250 lbs $9 601255 to 300 lbs.. $9; 305 lbs. up. $8 60 120 Mo 155 Ins,, $8.40: sows, $7.95. SheepReceipts. 1500; market, steady on all j classes and grades: run mostly few western lambs w’ilh choice kinds, *11: medium |to good native lambs mostly $9,504/10; j plainer grade natives, including bucks, I $6.504/9: bulk fat ewes. $4 down. OFFERS AID TO SEC Utility Heads Ask Speedy Killing On Holding Company Art. j liir United /’/•< ..* WASHINGTON. Dec. 12. The committee of public utility executives today offered to co-operate with the Attorned General and the Securities and Exchange Commission in obtaining a speedy Supreme Court ruling on the public utility holding company act. Phillip H. Gadsden, chairman of the utilities group, said the $15,000.000,000 electric light and power industry “will remain in a state of uncertainty until the constitutionality of this drastic and punitive law has bepn determined.”

EI ,ONIA /^?PLAN AND FINANCING —wMma '•art COLONIAL has served the linancial needs of thousands of JB COLONIAL ns in many of the nation's important cities. Now, COLONIAL PLAN /1 and finance service are available to the people of Indianapolis and i PLAN FEATURES >n County. Here most personal money problems can be solved REDUCED RATE ON LOANS Any One Os These “COLONIAL PLAN" Services DNSOLIDATE “BILLS—Get the money from Colonial to pay all your FURTHER REDUCTION IN Maintain your credit. Ha\e only one obligation instead of several, COST TO THOSE WHO PAY PROVTPTT V >ne convenient payment to make each month. :DUCE MONTHLY PAYMENTS- If your installment payments are EQUAL MONTHLY ng burdensome, ask us about the Colonial refinancing plan. Vfe PAYMENTS ably can relinance the balances on your installment accounts and give ow er monthlv pavments. TREE PARKING TO OUR CUSTOMERS EET EMERGENClES—Emergencies usually require cash immediatet such times Colonial's “emergency" service is especially appreciated. ♦ WHEN YOU BUY YOUR NEXT CAR-If you are planning to pur- ~ chase anew or used car. ask your dealer to finance it on the Colonial Plan " *** fT \ki>. You will find our terms convenient and liberal and the cost low. MICHIGAN i|E|yf Also liberal amounts loaned on personal security ar.d your own signa- ‘T” . Jift ture. You need not ow n real estate. No endorsers required. *|c Please feel free to come in and talk to us w henever you have a financial problem 01 any kind. Our many years of experience and our FREE PARKING ACROSS ample resources enable us to give you prompt and helpful service. THE STREET FOR ONE HOUR lust dri*e into the parking lot aim- , . ... . , . across the street, bring *otir parkColonial sen ice is planned to help sou , n „ cheek to onr esflhce w hen SL j get out of debt not to keep you in debt. come in to transact your basiqea*. Vte stamp the ticket —you get one hour free parking. I H' 3 oV , ND UH*. M l 1(1 115 EAST MICHIGAN STREET RILEY 1591 4 llLii INDIAN APOUS

SWINE MARKET SHOWS UNEVEN TRADING RANGE Prices Steady to 5 Cents Lower: Cattle. Veals Stationary. Although receipts were lighter than in recent sessions at the Indianapolis Union Stockyards today, the pork market displayed a weax undertone. Prices remained steady to generally 5 cents lower than yesterday’s best average. Receipts were estimated at 5000. compared with 6000 in the precetij ing session. This was the lightest ; supply on hand so far this week. Os the total supply approximately 854 were held over from yesterday’s market. Trading was fairly active as the session progressed, with outside demand around normal. The bulk. 160 to 250 pounds, cashed in at $9.65 to $9.75. while heavy butcher classes, ranging from 205 to 400 pounds, were salable from $9.50 to $3.60. In the lightweight division, slaughter pigs, scaling 100 i to 160 pounds, sold at $9.10 to $9.60 Good packing sows held at $8.75 to $9.85. The cattle market continued to display a steady trading range, especially in slaughter classes. Bulk | of steers was valued to sell from $6 to $9. while best kinds held above sll. Bulk of heifers ranged downward from SB. Cows sold at $4.50 to $6. Bulls brought $4.25 to $6. Receipts numbered 800. Vealers also remained stationary. The bulk of good and choice grades sold at $10.50 to sll. Receipts were j 600. Lambs showed only a slight I change, with native classes selling from $lO to $10.75. Top prices held at, sll. Fed Western kinds were ; steady to around 25 cents lower, selling at sll down. Slaughter sheep I held mostly at $4.50 down. Receipts were 3500. i Local Securities (Brcauxe quotation* on local sccnritic* are unlisted on an Exchance, The Times can not assume responsibility for the accuracy of these ficures fathered from local brokers.) STOCKS Bid. Ask. BpU RR & Stk Yds com 50 52Va ! Belt RR & Stk Yds 6% Dfd... 52 ! Central Ind Pow 7% pfd 16 19 ! Home Tei&Tel Ft. Wn 7% pfd 50Va 52 i Hook. Drug Inc com 14% 16!, : Ind & Mich Elec 7'7 pfd 99 102 ! Ind General Service 95 100 Ind Hydro Electric 53 57 Indpls Chain Sto Term pfd .. 52% 62% I ‘lndpls Gas Cos com 37 41 •Indpls Pow & Lt 6 pfd 82 85 i ‘lndpls Pow &Lt 6% pfd . 87 90 •Indpls Water s ', pfd . 102 i North Ind Pub Svc 5%%> pfd 68 70 : North Ind Pub Svc 6% pfd.. 75 79 1 Progress Laundry com 7 9 Pub Svc of Ind 6% pfd 11 Vi 14 i Pub Svc of Ind 7% pfd .28 31 ! So lnd Gas & Elec 6% pfd . 93 97 j Terre Haute Elec 6% pfd ... 80 84 j Union Title com 18 20 BONDS i Atlanta Dlstr Term fi% '4l ... 62% 70 Buffalo Distr Term 6%, '4l ... 70 80 Brooklyn Postal St a 5Vi % ’4B . 37’% 42 | Home Tel&Tel FtW 5%% '35 .103 105 Home Tel&Tel FtW 6% '43 .103 106 ! Indpls Railways Inc s r /„ '67 ... 50 53 I Indpls Water 4%% ’4O ... 105 107 j Indpls Water 5% ’SO & ’6O . 105 107 Indpls W'ater 5%%. ’53&'54.103% 105 ' Interstate T & T 5%% ’53 ... 93 96 Kokomo Water Works 'SB .104 105% Lafayette Telephone 5% '57 102 Morris 5 & 10 Stores 5% 'SO 99 102 Muncie Water Works 5 "/„ '65 .102'% Noblesville HL&P 6% ’47 .. .. 97 100 Ohio Tel Service 6% 47 95 Richmond Water Works 5%’57 104'% 106 St. Louis Post Office 5%% '3B 18 25 1 Seymour Wtr Ist mtg 5% '59 101 104 Terre Haute Water Wkss% ’56 101 Va lOS'% ! Terre Haute Wat Wks 6% ’49 103 105 ! Traction Terminal 5% ’57 .... 69 73 I ‘Ex. div.

Automobile Makers Face Shortage of Plant Space as Big Boom Is Predicted Estimates of 1936 Production in U. S. and Canada Range From Four to Five Million Units. Survey of Industry Reveals. (Thi* is the fust of three dispatches on the automobile industry.) BY JOHN \V. LOVE Times Special Writer DETROIT. Dec. 12.—^When the automobile shows werp moved forward into the autumn the season for forecasting the year's product ion wa* shoved forward also. The guesses for 1936 run all the way from 4 000.000 units in the United States and Canada to more than 5.000.000 R. H. Grant, vice president of General Motors, predicts 4.250.000 passenger cars and trucks.

Maj. L. L. B. Angas believes it will be at the capacity of the industry. which is “probably less, than 6,000,000 cars.” So he puts it down at “more than 5.000.000.” Os the leading automobile statisticians one is privately placing the 1936 production at 4,500.000 to 4,600.000 cars and another is putting it at close to 5.000,000. Not Capable of 1929 Ouput The operating head of one of the big companies is guessing 4,200,000 to 4.500.000. If it went, higher, he said the trade would have to digest a turnover of too many used cars in 1937; also it would probably have to enlarge its capacity. For reasons to be discussed later the plants and machinery of the industry as they now stand are not believed capable of turning out the number of cars they produced in 1929, or 5,622,000. The factories, the machines and the men employed would all have to be increased in numbers. Without erecting any new buildings the industry might get its production up to the second highest point in history, or a little past 4,600.000. but even that could be accomplished this time only by a steadiness of operation such as the industry has never enjoyed. Factory Expansion Planned The visitor who gets through to the top floors in Detroit hears that plans for factory expansion are being discussed. Only a few months ago, it seems now, the motor industry was supposed to be overbuilt. This week two of the cheaper cars are making all the units they can turn out in their present space. In the last few months the industry has announced and commenced approximately to $100,000.000 worth of improvements, but this is only a start on the kind of expansion that would be necessary if it were going to push production above 5.000.000 cars. Whole new factories, not merely departments here and machines there, would have to be built for such a production. Back of them would come the strings of improvements by the parts suppliers and even the steel companies. 6.000,000 Units in 1937 As for this calendar year, the production seems likely to get within a few thousand of 4.ooo.ooo—more than anybody dared to guess last January. Talks with motor executives in Detroit do not reveal any beliefs that higher prices are possible. The reasons for higher prices, they say, would probably come from outside the motor industry, such as an increase in steel prices. The first increase in steel is not expected to cover a broad list. Yet unless people are going to use

Oil Operations Aid Treasury Thr Federal porernmevt received more than .f/0.?,2h2,~00 from royalties:, honours nod rentals paid hi/ co,npnnrs o'rrelnpinp oil, natural yas and pa soli nr resources ot public lands and naval reserves between 1921 and 1932.

fewer cars in 1936. or continue to use during recovery cars that are older than they had during *he worst of depression, then pioduetion would have to reach 6.000.000 next year. On that account the outlook is very good for 1937 ana even 1938. Accepting these uncertainties, there are people in Detroit, who suspect the industry may be on the verge of its greatest boom, and that production may exceed 6.000,000 in 1937. Next—Why the industry is underbuilt. Chicago Grain Futures ißv James E. Bennett Ar Co.i 11:30 Prev Wheat— High. A M. close Dec 96 .95 .95% .95', May 95% .94% .94% ,S5 Jnlv 88'* .87% .87% .88% Corn— Dec. 58 * .58% .58% .58’ • May 59% .59% .59% 59% July 60% .60% .60% .60"* Oat*— Dec 25', .25% .25', .25% May 265, .26% .26% 26% Jtllv 27)- 27 % .27% .27% Dec. 48% '47% .48% .45% May 50 * .50% .50% .50% July 50’* .50% ,50% .50% LOCAL CASH MARKET City grain elevators are paying 86 cents for No. 2 soft wneat. Other graces on tfietr merits. Cash corn new No 4 yellow 46 cents and oats 19 cents 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-ib. box. $4.50. Pears--Washington D’Anjo *3.25. Bananas—7 hands, a pound, 5%c Persimmons California. lug $l 25 Apples—lndiana Jonathans. $1 60. Summer Rambos, $1; Delicious, $1604/1.75. Wealthys. $1: Grimes Golden. $] 15)1/1.25 Lemons—Sunkist, 3605. $7 50 Grapefruit —Texas. 64s to 70s. $.3.25; Arizona Sunkist. $2.75. Limes—Mexican, a carton 12s, 20c; Persian seedless, a hundred. $3. Vegetables—-Beans, green, round stringless. bu.. $3. Beets— Texas. 3-doz. crate, $1.90. Cabbage—Northern Danish. 50-lb. bag. 85c. Carrots—California. 6 dor. crate, $3.75, a doz., 75c. Cauliflower —California! crate, $2.50. Celery—Michigan, washed and trimmed, extra large. 555; jumbo, doz.. 85c Cucumbers—Southern, bu.. $3.50. doz., 85c. Kale—Home grown, bu.. 60c. Lettuce—lceberg. California, best. $4.75, home grown leaf 15-lb. basket, $1.60. Endive—California, basket. 85c. Mangoes—California, crate. $5. small basket, $1.25. MintBunch, 15c. Mustard—Home grown, bu.. 60c Onions —lndiana yellow. 50-lb. bag. SI; Indiana yellow, 10-Jb. bag. 22c; western Spanish. 50-lb. bag, $1 50 Parsley—Southern, doz , 50c. Peas—Telephone, hampers, $3.75 Potatoes—Round Cobblers. 100-lb. bag. $1.65; Michigan Round White. 100-lb bag $1.60 Early Ohios. bus.. $1.75: Idaho Russets. $2 40. Sweet potatoes—lndiana. Jerseys bu $1 65. Radishes—Ohio, button doz.. baskets, 454/, 60c. Sage—Do/. 45r. Spinach Broad leaf. bu.. $1 Squash Bu.. $2.50. Toma toe* -Ca lifornia repacked. 10-!b carton. $1.50.

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BAUSON FLAYS RECALCITRANT HOLOING FIRMS Economist Berates Utilities Refusing to Sign With SEC. fOj 1 nitrd prats WELLESLEY HILLS. M?>s . I>c. 12.—Utilitirs refusing Io register under the holding company art are resorting to tartics ’more worthy of jt he lawlessness of the gangsters than of those who have accepted the responsibility for the investments of the American public.” Roger W. Babson. economist, has written President Roosevelt. Writing "both as a publir utility director and a large stockholder in the industry." Mr. Babson in a letter dated Nov. 27 and made public today, sought to assure President Roosevelt that "many minority stockholders take a totally different j attitude” than those opposed to registration. Mr. Babson wrote, in part: "Some utility officials and directors seem so preoccupied with certain apparent injustices and inconsistencies in the act that they forget its fundamental purpose, which many conservative interests approve. In doing so they are refusing to register and thereby are de- • fying the basic principles of democratic government. . . . "Our bankers, public utility officials and others entrusted with the ! savings of our people can not consistently appeal to radiral groups to uphold the law and honor the principles of democracy, if they j themselves ignore these things when it suits their own pleasure and purpose. “Any intention of the holding j companies to refuse to register under the act impresses me as one of the most deplorable mistakes which T have witnessed in more than 30 years of industrial and financial experiences.” Unlisted Stocks (Bv Blvth & Co.' NEW YORK BANK STOCKS Bid Ask. i /Banker.* 69% 71 * ; Central Hanover B * T . 130 132 Cha.se 4ft % 42 % ; Chemical National 56 s , 58% Guaranty 316 318 ] Irving 17% 19% (Manufacturers . 44'* 46% , National CitV . 39% 41 (Com 111 iCbicagoi 123%. 126 , | First National ol Boston 46% 47", : Nail Shawmut 28% 30 FIRE INSURANCE (Aetna Fire . 6(1% 62% City of New York >newi .... 28% 30 ( Federal In* 88 | Franklin Fire . 31% 33 | Great American Ins 29% 31 * j Hanover Fire Ins 40%■ 42% j Hartford Fire In* 83% 36% I Home In* 39% 40% I Ins Cos of N A 74'* 70% National Fire 78 30% North River Insurance .28 29% 1 Phoenix Insurance . 96% 9R-% 1 11 S Fire . 55% 57% i Weschesier Fire .... 35'* 33% i 4Ex div.

LOANS For Modernization For a New Home THE RAILROADMENS REDO. A LOAN ASSN. M \it ;mu 4 ■