Indianapolis Times, Volume 47, Number 238, Indianapolis, Marion County, 13 December 1935 — Page 44

T rends Michigan Takes the Prize in (Collecting Back Taxes. BY JOHN T. FLYNN

rvKTROIT, I )er. 13. Detroit and the ;tate of Michigan have discovered how to collect back taxes. When the depression made bill-pa'ing difficult, people in Michigan -perhaps even slightly more so than in some other states —let their tax' bills slip first. The state didn't hound them for the money, so they let. the tax bills

slide. Asa result, there was last, year about SIOO 000,000 in back taxes due in the state, towns counties outside of the few large homerule cities and there were millions due in these too. n n n ftahEN Detroit J adopted the simple expedient, of asking the people to

Flynn

pay tip But, she didn't just, issue an appeal She went about it in a business-like way—like a, merchant with something to sell. She organised a. carefully worked out advertising campaign to sell her citizens the idt that it was to their advantage to pay these back taxes. Day after day stir hammered away in tier spaper ads the reasons behind that idea. I don't know what the advertising program cost. But, whatever it was it was worth Ihe monev. For in two years the city collected SI 5,000,000 in. delinquent taxes in cash, and the payment of another $25,000,000 on u seven-year payment plan was arranged. This succeeded so well that the state and counties adopted the plan. In August, 1934. the state, towns and counties outside of the few largest cities collected $2,500,000 in back taxes. n n n BUT during August of this year, after the advertising campaign was put into effect, they collected $12,500,000 m back taxes in cash and arranged for the collection of another $34,000,000 on a 10-year plan, which will bring $5,400,000 a year into the various treasuries of tiic stale and counties. I am told I hat this enabled Detroit to make its favorable refunding operation of its debt at lower interest rates, so that the city has been able to cut its budget. It Is not difficult to guess that this idea, was born in the mind of an advertising man who sold the city and state and counties the simple idea that advertising could be used to collect taxes as well as sell goods. (Copyright;, 1735, NEA Service. Inc.) On Commission Row Quotations below subject to change are n\erage wholrsal*! prtres hetng offered to buyers by local commission dealers: Fruit Cranberries, early blacks, 2S-Ib. box. S4.SO. Pears--Washington D'AnJo, $3.25. Bananas " bands, a pound. S*c. rprslmmons California, lug si ,25. Apples—lndiana Jonathans, $1.60. Summer Rambos, $1; Delicious, $ l .60® 1.75. Wealthy*, $1; Grimes Golden, $1.15(fi1.25. Lemons—Sunkisfc, 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. 85r. Carrots—California, 6 doz. crate, $3.75, ad 0?.., 75c. Cauliflower —California, • rate, $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. Jindive—California. basket, 85c. Mangoes—California, crate $5. small basket. $1.25. Mint — Bunch. 15e. Mustard—Home grown, bu., 60c. Onions Indiana yellow, 50-lb. bag. $1; Indiana irllow. 10-ib. bag. 22c; western Spanish. !>0 lb. bag. $1.50. Parsley—Southern, doz.. 50c. Peas—Telephone, hampers, $3.75. Potatoes—Round Cobblers, 100-th. bag, 41.65; Michigan Pound White. 100-lb bag. " 60. Early Oblos, bus.. $1.75: Idaho Russets. s•’.4o. Sweet potatoes—lndiana, Jersey s, bu.. $1.65. Radishes—Ohio, button, do; , baskets, *s®6oc. Sage—Doz., 45c. Spinach- Broad leaf, bu„ sl. Squash Bu.. $2.50. Tomatoes—California, repacked, !0-lb, carton, $1.50. Produce Markets The prices quoted are paid for stock gathered In the country, while delivered m Indianapolis the price Is a cent higher. Heavy breed hens, 16c; Leghorn breed hens. 12c; springers over 4% lbs,. 17r: under lbs., 16c; springers 1% lbs, and up 12e. o'd cocks, 9c. Turkov, ■ oung hens. 8 lbs. and up, 21c; young toms. 14 to 18 lbs.. 21c; under 14 lbs. and oyer Id lbs.. 18c; old hens, 18c; old toms, 15c. Ducks—White, 5 lbs. and over. 13c: under 5 lbs , lie; geese fuii feathered and fat, 9 to 14 lbs., 12c; over ’4 lbs 30c.: old guineas 15c; voting guinea., l'i lbs. and up. 25c; No. 1 strictly fresh eggs, loss off. 27c; pullet eggs, 18cl Each full case must weigh 55 lbs. gross, a deduction of 10c. a pound under 55 lbs. will be made. No. 1 butter. 35'.i 36';c: No 2 31%® 33 : .c; hulterfat, 32c. Quoted bv the Wad ley Cos. (Bv United Press! CHICAGO Dec 13.- Eggs Market ■ teariy. receipts. 2891 cases; fresh graded firstst. 37'ac; extra firsts, 28'jc; current receipts 75 J 26c. dirties. 20v21c: checks. '9c Butt*”' Mamet steady: receipts. 7485 tubs: extra firsts <9O-91 ■ 2 scorn, 32 s ß2‘,c; txtia.s 192 score> 32%c- firsts • 88-89% score t, 30'. u 31 1 seconds (86-87% scoiel, 30c; specials. 33 L a33 %c: standards, 32c. Poultrv Market unsettled; receipts i car, 32 trucks: ducks. 15l>. 1BC; geese, 17 a IRc spring Chickens. 13'.-u2lc; hens. 154/ 18U<’: turkeys. 2if<i2sr; Leghorn hens. 12i/15e; old roosters 14c. Cheese -Twins, 18@18'4c; daisies 1 Be; Lungin ms. 16% a- 19c. Potatoes Supply _moderne; demand very slow; market weak. Idaho Russet! Burbanks 41 #• fl 75. V. S No. 1. $1.35; Wisconsin iound whites, $1 20. Michigan Russet t Hors - sl,Minnesota ami North Dakota Cobblei s $1.07' jsi 117 . cai iv Ohlos M 3.> Colorado McClures, $1.40® 160; a icb gan end Wyoming Bliss Triumphs s' 30 1/1.35. Arrivals 48, on track 289. shipments 491. Other Livestock IBv United Pressl KC'RT WAYNE. Tnri . Dec. 13 - Hogs—''l., 1 '!' 18 " ;i,s ■ 150-200 Tbs.. $9 of; 200-220 lbs $9 55 220 240 lbs 9 50 340-380 lbs $2 40. 280-300 lbs. $9 30 300350 lbs.. $9 15. 140-160 lbs. $9 40; 120-140 bs. $s 15 100-120 lbs. $8 90; roughs $8 ?0 stßgs. $6.75. Calves $10.50. Lambs, $10.75’. 'Bv Times Specialt LOUISVILLE. Dee 13 -Cattle Receipts GO: Including 175 billed through and diree : slaughter tattle in light suoolv ; general killing ouailv pain; demand still weak for slaughter steers and heifers but outlet for row-, and bulls fairly broad; market fiuotahie mostly steadv. bulk common to medium grade steers and heifer- <5 50 7.60. comomn dam-bred and off colored Kinds down to around $5; better finished ted offering.- Quotable from $8 to around $10; bulk beef rows $4.50,/ 6 50; practical top $6; smooth heifer type rows quotable higher, most low cutters and cutters $3 25 4 25. sausage bulls, generally ss®6: odd head outstanding heavies higher; light beef type stockers and stock calves mostly $5 75 ■i 7 75; choice kinds to $8 25 C alves Receipts. 400; including 125 stock calves market not fully established, indications steady to weak: some bids. $9.50.110: for better grades with strict Iv choice kinds Considered eligible to $lO 50 Hogs - Receipts. 600 including 90 direct: market 10c higher: better 160-250 lbs 59 70 255300 lbs. 89 10 305 lbs up $8 70. 120-155 lbs $8.50: sows, $8 05 Sheep—ReceiDis, 700; run mostly fed western lambs; inarki tteadv on all classes and grades; bulk good lo choice fed weterns. $11: most medium to goed natives. $9 50ul0: plainer grade na'ivea including bucks. $6.30 y 9 bulk lal ewes. $4 down Money and Exchange THTAS! RV STATEMENT •By United Press' WASHINGTON. Dee 14 Oovernnn iit expenses and receipts for the current vear to Dec 11 aa compared with a vear ago _ „ This Year Last Year Expenses 63 369.761.402 11 $1,167,413.967 83 Receipts 1.595.283 ’29 78 1.604 538.632 34 Deficit . 1.774.478.272 33 1.562 875./.’5.49 OswJl Sad. 1.333.&97.152.36 1.545.892 75

PAGE 44

6IANNINI MAY GET HIGH 11. S. FINANCIAL POST Position on Reserve Board Looms for California Banker. By United I’re** WASHINGTON, Dec. 13.—Reports that A P. Giannini, California banker, would be offered a high Administration financial post were circulated today following his social visit, to the White House at President and Mrs. Roosevelt’s first forma! dinner of the winter season. Mr. Giannini refused to discuss the rumors. He has been a frequent visitor in Washington recently. Among the jobs lie might be offered are a position on the Federal Reserve Board or the chairmanship of the Federal Deposit Insurance Corp,, a post that may soon be vaeated by Leo T. Crowley of Wisconsin. Mr. Giannini has been described as being in sympathy with many of the policies of President Roosevelt anti if the Administration obtains his services it was believed its financial staff would be strengthened materially. Although refusing to discuss politics. Mr. Giannani readily talked about the business situation. ‘'Business is good throughout the country,” he told the Unied Press, "particularly in the Western states and on the Pacific Coast. "While the durable goods industry and housing have not, yet felt, the full effect of it, they also will shaie in the improvement in other industries. Then improvement will be general. I look for further improvement.”

BUYING BETTER, HEINZ ASSERTS Canning Official Cites Gain in General Business Conditions. By t nited Press PITTSBURGH, Dec. 13.- -Buying in many parts of the world is in much larger volume this year than a year ago, Howard Heinz, president of H, J. Heinz Cos., told branch managers and head salesmen of his concern here. The men, coming from all parts of the world for the Heinz fortieth annual sales conference, were given that report of world conditions by their president as the conference opened. Mr. Heinz added that the trend of buying now is toward goods of higher quality than formerly. "Our report,” Mr. Heinz said, “shows improvement in general business in England, Australia, South Africa, Switzerland, Germany, the Straits Settlements and other countries. Employment in the Heinz plant has reached anew peak, it was revealed. There are 13.590 on the pay rolls, including 2000 in Britain. Spain and Australia. The company's October business was the largest in history. BRITAIN CONTINUES TO EXPAND STEEL TRADE Production During October Highest Since March, 1927. By United Press WASHINGTON, Dec. 13.—Continued expansion in Great Britain’s iron and steel industry during the month of October was reported to the Department of Commerce today. The highest monthly output since March, 1927, vas registered with 907,300 tons, an increase of 95,300 tons over last year. Production of pig iron at 544.300 tons was higher than in the past two months and an increase of 17.200 tons over October, 1934. Iron and steel exports amounted to 224,033 tons, compared with the monthly average of 196,705 tons previously this year. TRADE OUTLOOK BETTER Prospects of Twelve Industries Reported Above Average. 3 imes Special NEW YORK. Dec. 13.—’The outlook for 12 industries is decidedly better than average, the United Business Service reported today. These industries are either in the capital equipment field or related to it. They are: Agricultural equipment, automobile, auto accessory, building supplies, chemical, cooper, electric equipment, electric light and power, machinery, office equipment, railroad equipment and the steel and iron industries. Prices of many products are now higher, it was stated.

New Business Books Available at Library The following new books are now available at the Business Branch of the Indianapolis Public Library: \ SUCCESSFI 1 INVESTOR'S LETTIRS TO lll> M'Y h Karl Hrlhrr* - Ad'/ce on investment management. MANAGEMENT OF AN ENTERPRISE. 6t C. Ralderston— "A weilbaianced treatment of management essentials '■ presented bv a group from tbe faculty of the Wharton School of Finance and Commerce. THE ANATOMY OF LETTERING. h Warren Chappell—"An attempt to take from lettering some of its drt.ggery and make it instead a creative experience.’’ SOMI ASPECTS OF MANAGEMENT OF COLLEGE HAILS FOR WOMEN, bv Grace M. Augustine— This survey deals with the persons required to staff ard operate the college residence and the food units, and costs of such services. AUDITING PROCEDURE. hr De Wilt Carl Eggleston Second Edition— Anew edition that takes into account "the growing tendency to assign a greater degree of responsibility to public accourtants."

Abreast of The Times on Finance

New York Stocks

'By Thomson & McKinnoni 10:30 Oil*— High. Low. A M. Close At 1 Rfg 25 24 1 , 25 24% Darnsdall KG* 13% 13% 13° 2 < nnsoi Oil 10% 10 1 2 10% 10% font of Del ... 30 1 2 29', 30% 30', Houston 1 new j.. 6'.. 6% 6% 6’ ? M-d Cont Pet... 18 1 2 18', 18’2 18% Ohio Oil 12 s , 12', 12 s * 12', Pet Corp 12'4 12', 12', 125, Phillip* Pet 37 36'; 37 36', Plymouth Oil ... 12 1% 12 11 As Pure Oil 16 15’, 16 IS 3 , Rovnl Dutch ... 46% 46 s , 46 s , 46‘; .Seaboard Oil ... 31% 31'2 31*, 31'2 Shell Un 15 3 , 15% 15-), 151, Skeilev Otl 17% 17 ]7 3 , 16 7 , 80c Vac 14', 14', 14', 14 SO of Cal 38’, 38 38'5333,7 3 , 8O of Ind 30 29’, 30 29", 8 Oo( N,l 49’ , 48’, 49 48", Texan Corp .. 26 3 26', 26% 28% Tidewater Assn.. 13% 13 13% 13 Un Oil of Cal... 22% 22% 22% 22% Steel*— Am Roll Mills... 30 s , 30 30% 30 Be'h Steel 47 5 , 47 47", 47 Brers AM 19 18% 19 19 Col Fuel A: Iron. 4% 4%. 4% *% Croc Steel 3.5% 34% 1)4% 34 Inland steel ...104% 104% 104% 104% Mid Steel 23 22% 23 22% Nat! steel 77% 77 77% 77", Otis Steel 18 16 16 16 Rep Ir & Steel . 18V, 18 18% 18% U S Pipe ft, Fdy, 21% 21% 21% 20 s . U S S'eel . 3 46% 46% 46 s a 46% Youngstn S & T 37 37 37 37% Motor?— Chrysler 86% 85% 86 s , 85% <"/en Motors .... 55% .55% 55% 54 s , Hudson 16% 16% 16% 16% Hupp 2% 2% 2% 2% Mark Truck 27% 26% 27% 27% NBh 18 17% 17% 17% Packard 7 6% 6% 6% Reo 5 5 .5 5% S'udebaker 9% 9 s , 9% qs. Yellow Truck... 7 s , 7% 7% 7% Motor Access—• Renrftx ... 20% 20% 20% 20’Borg Warner .. 62% 60% 62% 62% Brigg ,42 j}*. sp„ 50 Hudd Mfg .... 8% 8% Bs.8 s . 8% Bndd Wheel 12% 12% 12', r>% Eatoi Mfg 27% 27 27% 17% Klee Auto ta'e.. 3.5% 35 35% 341. Houdaille iß|-. 29% 28% 29% 29% Murray Body .. 18’. 18% 18 s , 18% Stew VVarner ... 16% 16% 16% 16 7 Timken Roll ... 66% 66% 66% 66% Timken Det Axle 10 s , 10% 10% 10'Mining- - Alaska .run ..... 15% 15% 1,5% 15 t" 1 Smelt 58% 57% 58% 56 s , Anaconda 27% 26% 27% 27% Cal At Hecla.... 5,5% 53, 53* Cerro De Pasco.. 56% 54% 56% 54% Dome Mines .... 44% 44 44 44 Granby 9% 9% q% qi. Ot Nor Ore 1,5 14% 15 141, Howe Sound 56 3 , 5.4% wv fnt Nickel 43% 43% 433* 433,® Kennecott Cop.. 28% 77% 231-, 27% Mclntyre Mine.. 41% 40 s , 41% 41% Phelps Dodge .. 25% 24% 24% 24 , St, Joe Lead 23% 23'- 23% 27% U S Smelters .. 99% 98 99% 98 lihuspmpn(s Fox 'Cheat 24 s , 23% 245, 23% Loews Inc 53 s?*, 52% 53 Radio Corp !l% 11% 11% 11% Paramount ..... 10 10 10 10 RKO 5% 5% 51, 53Warner Bros ... 10 9% 9% ... Tobaccos— Am Tobacco ’A% 93% 92% 92% 97 Am Tobacco ‘B' 95% 941 , 93% 951, Phillip Morris 64 s , 64 64% 63% Reynolds Tob 'B' 56 s , 56% 56% 56% Hia— A'chison .57% 56% 57% 56% Atl Coast Lines 32% 31% 32% 33 ® O - 16% 16% 16% 16% Can Pacific 11% 11 111. 111. Cb A* Ohio 51% 51 51% 51% Cbi A- Gt W pfd 4% 4% 4% 5 C MA- Si P pfd. 2", 2% 2% 2% Chi N W 2% 2% 2% 3 Dela A: Hud 38%,- . . 37 s , Del Lac At W ... 17 16% 17 16', G% .11% 11% 12 Git Northern pfd 34% 34 34% 33% 111 Central 30% 20 20% 20 F ~ 'FJ* 13% 13% 13% Lehigh Valiev... 9% 9% 9% 9% Lou A- Nash ... 62% 624, 62% 62% M K & T .. 5% 5% 5% 5% M K A T Pfd.. 14% 14", 14% 14% Mo Par pfd ... 3", 3% 3% 3% N Y Cent . .. 28% 27% 38% 27% N Y New Haven 4% 4', 4’ a 4% Nor Pacific 22% 22% 22% 22", Penn R R 30% 30% 30% 30 s a Sou Pac 23% 22% 23% 23% Sou R. R. ...... 13% 13% 13% 13% Union Pac 108 108 108 108 West Maryland 9% 9'i 9% 9% Am Car & Fdv 29% 29% 29% 29 Am Steel Fdy.. 22% 32% 22% 22% Bald Loco .. . 4% 4% 4% 4% Gen Am Tk Car 471, 47% 47% 47 Gen Elec 36% 36% 36% 36% Gen R R Sie ... 40'y 40% 40% 41 Pullman Inc .. 38% 37% 38% 37% West Air Br ... 33% 32% 33% 32% Westingh Elec.. 93% 93 93% 92% Utilities— Am Power Lit. 8% 8% 8% 7% A T & T ....156% 156 .156% 159 Am Wat. Wks... 20% 20% 20%: 20% Somm & Sou ... 2 s , 2't 2'; 2% Consol Gas • 31% 31% 3i 3 e 31 s , Elec Pvvr & Lit. 55, 5% 5% 5% Interboro R T . ff'a 17% 177, 18% Ini T At T ... 12% 12% 12% 12% Nat Pwr & Lit.. 9% 9% 9% 9% North Atner .... 25% 25 25% 25% Pac GA- E 29% 29% 29'.3 30% Pub Serv N J... 43** 43’* 43% 43% So Cat Edison .. 23% 23% 2324 Stone A Webster 13% 1312 13% 13 United Corp ... 6% 6% 6% 6% Un Gas Imp • 17 17 17 17% Ut Pwr & Lt 'A' 2% 2% 2% 2% Rubbers— Firestone ....... 22% 22% 22% 22% Goodrigch 11% 'l% Us 12 Goodyear 20% 20 3 , 20 3 , 20•„ N S Rubber pfd 42% 42% 42% 4T% Miscellaneous— Allis Chalmers-. 33** 33** 33% 33% Am Can 134 133% 133% 135 Am Mach & Fdy 29% 29% 29% 29% Brklyn Man Tr 41% il 1 * 41 1 , J-,' 1 Burroughs Add.. 25% 25 25 -5b ,1 1 Case 101 1001* 101 991* Conti Can 85% 85% 85% 86 Caterpillar Trac 56 55% 56 .ia% Crown Cork .... 43% 43 43 44% Curtis Pub 21% 21% 21% 2] Deere At Cos 53% 52% 53 51% Gillette 17% li l/ , 1 ‘ Glidden 48%- 48% 48% 49_ s Inter Harv 61% 61% 61, 60 , Natl Cash Reg.. 22% 22 22% 21% Owens Bottle .. 122% 122 U 122% 122 Rem Rand .... 20% 20% 20% 20% Underwood E - 86% 861 86% 86 2 Worthing’n Fmp 21 21 21 21., Foods— Am Sugar 51% St'i 51% 51 ti Armour 4% 4% 4% a Borden Prod ... 26% 26% 26% -6 Cal Packing • 35% 35Vi 35% 35% Canada Dry G A 14% 14% i4% 14% Coca Cola. ..86% 86% 86% 86 Cont Bak "A”.. 9% 9% 9*, 9*4 Corn Prod 68% 68 % 68% 69 Gen Baking .... 11 % 11% 11% II 1 * Gen Food; 32% 32 s , 32 s , 32% Gold Dust 19% 19% 19% 19% Loose Wiles 39 s , 39% 39% 39 Natl Biscuit ... 33 32*, 33 33 Natl D Prod 19% 19% 19% 19% Std Brands .... 14% 14%' 14% 14% Un Biscuit 24% 24% 24% 24% United Fruit .. 65% 65% 65% 65 First Natl Stores 46% 46 46 46% Gimbel Bros ... 8% 8% 8% 8% Gr Un 7ea 4% 4% 4% 4’, Allied Sts 7% 7% 7% 7% Jewel Tea 62 82 62 62% Kresge S S 26 25% 26 26 Kroger Groc. .... 26% 26%- 26% 26% Macy R H 52 5 , 52% 52 5 8 53 McCrory St .... 13% 13*4 13% 14 McLellan Sr 13 13 13 13% Mont Ward 39*8 39% 39*’* 39 Penney J C 83 82% 83 82 Safeway St ... 51% 34% 34% 34 Sears Roebuck-. 06% 65% 65% 65% Woolworth 56 55% 56 55% Aviation— Aviation Corp .. 4% 4% 4% 4% Boeing Aircft .. 13% 13% 13% 13% Curtiss Wright . 3% 3% 3% 3% Curtiss Wr "A"- 9% 9% 9% 9% Douglas Air .... 36% 36*8 36% 36% Nor Am Av . 6 6 6 5% Uni Aircft New*. 22% 22*8 22% 22% Chemicals- ■ Air Reduction.. .166% 166% 166% 166 Allied Cheni ...156 156 156 156% Com Solvents 21% 20% 21% 20% Du Pont 137 136% 137 137% Liquid Carb .. 35% 35 35% 35% Nat! Dis /new).. 31 30% 31 30% Scnenlev Dist ■ 52% 52% 52% 52% Tex Gulf Sulph 31 31 31 30% Union Carbide .. 69% 69% 69% 69% Drugs— Bristol Mvers .. 40%' 40% 40% 40% Lambert ' ...23% 23% 23% 23% Lehn & Fink . 12% 12% 12% 12% Un Drug mew'. 12% 12% 12% 12 Vick Chem .... 43 43 43 42% Zomte Prod ... 7 6% 7 6% Financial— Adams Exp ... 11 11 11 10% Allegheny Corp . 2% 2% 2% 2% Am Int Corp . 10% 10% 10% 10%

Unlisted Stocks (By Blythe * Co.' NEW YORK BANK STOCKS Bid. Ask. 'Bankers 68% 70% Central Hanover B <fc T 129% 131% Chase 4i% 43 Chemical National 55*4 57% Guaranty 316 318 Irving 17*4 19% Manufacturers 45*4 47% National City 39% 48 First National of Boston ... 117 120% First National of Boston 46% 48% Natl Shawmut 29% 31 FIRE INSURANCE Aetna Fire 60 62% Citv of New York (new) ... 28** 30 Federal Ins . 88 Franklin Fire 31% 33% Great American Ins 28% 30’* Hanover Fire Ins 41 43 Hartford Fire Ins 83 85% Home Ins 38*4 40% Ins Cos of N A 75*4 70 National Fire 77*4 80 North River Insurance 28 29% Phoenix Insurance 95% 97% U S Fire 55 57% Westchester Fire 36 38% i£x div.

INDIANAPOLIS, FRIDAY, DECEMBER 13, 1935

Transamrrira .13 13 13 12% Tr Conti Corp ... 7% 7% 7% 7% Building— Am Rad'afor .... 22% 22% 22% 22% Gen Asphalt .... 22% 21-% 22% 22% Holland Furnace 30 30 30 29% Tnt. Cement. . 33% 33% 33% 33% Johns ManviUe 90% 90 90% 90 Libby Owens Gls 44% 44*, 44% 45 Otis Kiev .... 25'. 25% 25% 25% U S Gypsum ... 83% 83% 83"% 82 Household— Co’ Pal Peet ... 18", 18% 18*, 18% Kelvinator . . 13 s , 13% 13% 13% Mohawk Carpet 20% 20% 20% 20% Proc & Gamble 45% 45% 45 5 , 45% Servel Inc . .... 14% 14% 14% 14% Simmons Bed ... 18% 18% 18% 18% Textiles— Celarese Corp .. 27% 27% 27% 27', Collins Aikman.. 47% 46% 57% 56'Indus Ravon .. 29% 29 39 29% Kayser Julius . 30 29% 30 29% Chicago Stocks By Abbott, Proctor & Paine) 10:30 Prev. A. M. close. Berghoff g 6 Butler .... 8% 8% A. M. Castle 42% 43 Chic Corp 4% 4% Conti Steel 41 41 Cities Service 2% 2'% Cord 4% 4% Crane 26 24% Elec House .. 16% 16% Gen. House 3%. 3% Grt, Lakes 29% 29% Tron Firemen 29% 38% Noblitt, Sparks 32% 32 Perfect Circle . 41% 39% Pub Servos 111 .......... 51 " 50% Swift 20% 20 Zenith .. 14 13% New York Curb 'By Abbott, Proctor & Paine) 11:30 A. M. Prev. N. Y.Close, Am Cyanide "B" 29% 29% Am Superpower 2% 2% Atlas Corp 12% 12% Carrier Corp 11% 11 % El Bond A- Share 15% 15% Ford of Can “A’ 25% 25% Hiram Walker 32% 32% Imperial Oil Ltd. ............. 20% 19% Lake Shore Min 53*4 53% Nia Hud Pwr B*, B*B Penn Road 3*, 3% Wright Hargraves Min 7% 7% N. Y. Bonds (Reprinted Prom Late Times Yesterday) DAILY BOND INDEX 20 20 20 30 fnds. Rails. Utils. Bonds. Todav 91,3 83 4 103 3 92 7 Yesterday 91.3 83.7 103.2 92 7 Week ago p 1 1 83 3 103.2 93 6 Month ago 90.5 78.1 102.5 90 4 1935 high 914 86 4 103 4 92.8 1935 low 83.6 71.0 89.3 83.0 (Copyright. 1935. by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasury* Prev. Close, close. 4%s 1947-52 115 115 4s 1044-54 110 23 110.24 3%s 1046- 109.2 109 3%s 1940-48 109,16 707.17 3%s 1943-47 106.8 106.10 3%S 1941-43 107.16 107.37 3%S 1943-45 105 1O 105.12 3%s 1941 107.29 108 3%s 1944-40 104 30 105 3%s 1946-49 103.18 103 20 3V*s 1949-52 103 15 103 19 3s ,1954-55 102,17 102,18 3s 1946-48 102.20 102.20 2%s 1955-60 99 29 99 30 2%s 1945-47 100.19 100.21 Home Owners Loan Corp. 2%s 1949 99 15 99 17 3s 1952 100.22 100.25 Federal Farm Mortgage Corp, 3s 1949 100.26 100 29 3s 1942-47 101.6 101.8 2%S 1947 100 100,3 DOMESTIC Prev. Issue. Close, close. Alleg Corp 6s '44 ............. 86 86% Alleg Corp 5s ’49 79% 79% Alleg Corp 5s ’SO 49' 51 Am Frgn Pow 5s 2030 66'% 67% Am Tel & Tel 5%s '43 113 112% Am Tel & Tel 5s ’65 113 113 Arm Av Cos (Del) 5%s ’43 ..... 94% 94% Atl Coast Line 4s ’52 97 #7% Atl Coast Line 4%s '64 ....... 85% 86% Atch Top & S Fe 4%s '4B 108% 108% Am Wat Wks 5s ’44 ...111 112%Ani Rolling Mills 5s ’3B 120 122% Ralt A- Ohio 5s '95 75% 76 Balt At Ohio 6s '95 86 86 Balt, & Ohio 4Vis '6O 61% 61") Fluff Roch & Pitt 4%s ’57 .... 65% 65% Chi Milw &StP 5s '75 14*, 14% Chi Milw At St P 5s 2000 6% 6 s , Cleve Un Term 5s ’73 100% 100% Cleve Ull Term 4%s ’77 92% 93% Col Gas 5s May ‘52 99% 99% Col Gas 5s '6t' 981, 97% Can Pac Perp 4s 86 86 Cent Pac 5s 60 87% 88% Big Pour 4'.is '77 77% 77% Big Four 5s '63 85*4 86" Colorado A; So 4%s 'BO 58% 57 Chi At West Tnd 4s ’52 99% 98% Oh) & West Tnd 5%s ’62 107 106% Chi & Nor West 4%s ’49 U% 12 Con Gas 5s ’57 105'% 104% Chesa Corp 5s '47 117 117 Del A Hilda 4s ’43 78 78% N Y Dock 4s ’sl 69 68% Erie 5s ’75 68% 69% Erie 5s '67 .. 63% 69 s * Gen Cabie 5%s ’47 ...101 100*4 Grt Northern 7s ’36 102% 103 Grt Northern 4%s 76 94% 949% Grt Northern 4%s ’77 94% 993% Gen Stl Cast WW s!is ’49 ... 90% 89% Hud & Manhat Ref 5s ’57 ... 82 82 111 Cent 4%s ’66 65% 66 111 Cent Jt 4%s ’63 68 67'% 111 Cent 5s ’63 70 71 Interlake CA- 15s 'sl 82% 83% Interntl Hy Elec 6s '44 45% 45 Tnterntl Tel & Tel 4%s ’39 87% 88 Interntl Tel A Tel 5s '55 78% 78% Interntl Tel A Tel 4%s '52 ... 75% 75% P Lorillard 7s ’44 128% 129% McKess A Rob s'.is 'SO .102'% 102% Natl Dairy 5%s 48 104 104 Natl Steel 5s '56 106 106 Nickel Plate 4%s ’7B 68 68% Nickel Plate 5%* '74 78% 78*4 Nickel Plate 6s '35 82 82% N Y Cent 5s 2013 81 81% N Y Cent, 4%s 2013 (old) 74% 75% Nor Amer Cos 5s 61 103 103% Nor Pac 4%s 2047 990 89*4 Nor Pac 6s 2047 105% 105',a Nor States Pow 5s ‘4l 106% 106 New Orleans Term 4s '53 81 81% Otis Steel 6s '4l 102 102 Penn Ry 4%s 'B4 -...105% 105% Penn R.v 4%s ’Bl ...106% 106 Penn Rv 4s '7O 99 99% Pac G A E 5s ’42 105 105% Portland Gen El 4%s ’6O 71% 72% Para Publix 5%s 'SO 92% 92% Penn PAL 4%-s ’Bl 105*4 106 Postal Tel A Cab 5s '53 36% 37% Rem Rand WW 5%s 47 104% 104% Shel Union Oil 5s '47 ........ 102% 102% Sou Pac 4%s '6B 76*4 77 3 s Soil Far 4%s 'Bl 76% 77 Sou Pac 4%,s '69 77 78 Sou Pac. 4s ’49 81% 81% Sou Rail 4s '56 52% 52** Sou Rail 6s ’56 68 68% Sou Rail 6'is '56 72% 72 Sharon Stl Hood 5%s ’4B 102% 102% Texas Pac 5s 'BO 95 94% Texas Pac 5s ’79 102% 102% Texas Pac 5s ’BO 95 94% Texas Pac 5s ’79 95 94% Texas Pac 5s '77 95% 95 Union Pac 4s ’47 112 11!% United Drug 5s ’53 97 97% U S Rubber 5s '47 101% 100*4 N Y N H A Hart 6s '4B ...... 33 s * 33% N Y N H A Hart 4%s 67 32% 32% Warner Bros 6s '6O 38 % 88% Western Marv 5%s ’77 . 104% 104% Western Marv 4s ’52 95% 95% Youngstown S A T 6s '7O ...102% 102% Youngstown S A T 5s '7B ... 103 103 FOREIGN Argentina A 6s '57 98% 98 Argentine B6s 'SB 98% 98% Brazil 8s ’4i 27** 27% Canadian Govt 4s '6O 104% 105% Denmark 5%s '55 101 % 100% French 7s '49 176% 176% German 5%s '65 29% 28% German 7s '49 40% 39% Itslv 7s ’sl 69% 71 Japan 6%s '54 99 98% Poland 7s ’47 107 106*4 Rome 6%s 52 57 60 Yokohama 6s ’6l 85% 84%

BUSINESS FAILURES DIP Defaults* Decrease to 211 From 229 in Week Ended Dec, 5. Times Special NEW YORK, Dec. 13.—Commercial failures in the United States during the week ended Dec. 5 decreased to 211 from 229 in the preceding week. Dun & Bradstreet, Inc., announced today. This was a decrease of 21 failures, compared with the total number of the corresponding week a year ago. The West and Southern districts showed increases during the week, while the Pacific Coast and Eastern divisions decreased. Failures in the Dominion of Canada during the week numbered 32, against 3d in the preceding week and 29 for the same week a year ago.

POWER, WEIGHT COST OF AUTOS DROPS SHARPLY But Industry Is Vastly Underbuilt, Writer Reveals. (This is the second of ihree articles on the auto industry.) BV JOHN W. LOVE ‘Times Special Writer DETROIT, Dec. 13.—1 t was a little bard for me to see why the automobile industry as it now stands could never turn out as many cars as it used to. In other words, it was hard to see why the motor industry is underbuilt. The automobile economist was patient with me. Today’s cars, he said, are a little larger than they were when the industry last produced 5.000,000 units, and they are much more complicated.. Modern cars can not be put through the old factories in the same numbers. The incubator built for hen’s eggs must be rebuilt if it is to handle goose eggs. More factaries will have to be put up before they can again do what they did in 1929. Length Increased 10 Per Cent The increase in vehicle size is only a few inches, on the average wheelbase of the cars produced in great volume, but even this small difference is enough to call for more space to handle parts and materials. In 10 years the length has increased 10 per cent. The more important difference, the expert explained, is in the additional parts that go into the car and the increased complication in the manufacture. Cars today have automatic starters, automatic chokes, built-in equipment for radios, more elaborate instrument boards. Some have steel tops and adjustable windows with twice as much regulating equipment. The number of parts in the car has increased by 25 per cent in 10 years. Because factories these days are built, around their product, from the inside out, and increase in the side of the product or the work done upon it calls for machinery of larger size or more of it, or faster machinery, more bins, more benches, more room for meil to stand or sit, and so the old plant becomes obsolete while it is still to every outward view a perfectly sound building. Unlimited Combinations Offered Furthermore, my economist explained, today's passenger cars are less standardized in some respects than ever before. Every departure from standards takes space, if for nothing more than to shelve a can of paint. In some of the more expensive cars the purchaser now has the choice of about 1,000,000 possible combinations of mechanical equipment, color and fabrics. We have returned to old-fash-ioned individualism in our cars. The days when Ford could offer any color in a Model TANARUS, so long as it was black, have gone forever. The age of standardization seems to be on the decline. So the motor industry is again underbuilt. Weight Costs Decrease Along with this increasing size and complication of the modern automobile has gone a steady cheapening by weight. Ten years ago the average high-priced car sold at around a dollar a poimd. One or two were $1.03, a couple of them were exactly sl. Today the same cars are selling for 60, 70 and 80 cents a pound. So when Dr. Moulton of the Brookings Institution calls upon industry to keep lowering its prices, or when Secretary Wallace intimates that manufacturing has not flexed its prices as agriculture has, the automobile people bring out their tabulations and show: Weight—On the average of all 1935 cars (the average weighed by volume of production', the cost a pound is now 23 cents, compared with 30 cents in 1930, and 41 cents in 1925. Power Expense Reduced Horsppower—Each horsepower of capacity in the 1935 cars costs on the average $7.80 in the price of the car (dividing the price of the car by its horsepower and averaging the result for all cars), compared with $15.50 in 1930 and $31.50 in 1925. Putting it another way, power capacity under the hood costs only one-quarter as much as it did 10 years ago. This is partly because it only takes 34 pounds in the car to each horsepower of motor capacity, against 77 pounds a decade ago. Along with this relative decline in the price of the car by weight, and horsepower lias gone the actual decline. The average price of automobiles is about 89 per cent of what it was only five years ago. Next—Sales and profits.

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. Beit RR & Stic Yds com 50 52V5 Belt RR & Stk Yds 6 % pfd... S3 Central Ind Pow 7C, pfd 15 19 Home Tei&Tel Ft. Wn 7Co pfd 50 V 5 53 Hook Drug Inc com 14*a 16*2 ♦lnd & Mach Elec l s s pfd .... 99 IP2 ‘lnd General Service 95 100 Ind Hydro Electric 53 57 Indpis Chain Sto Term pfd... 5215 621a •Indpls Gas Cos com 37 41 •Indpis Pow & Lt 6 pfd 82 85 ♦lndpls Pow &Lt 6 l 2S pfd,... 87'a 90 ! 2 •Indpis Water SCo pfd . . 102 . . North Ind Pub Svc 5*2 Cos pfd 63 70 North Ind Pub Svc 6Co pfd . 75 79 Progress Laundry com 7 9 Pub Svc of Ind 6c, pfd .. Ilia 14 Pub Service of Ind 7c- pfd. 30 33 So Ind Gas & Elec 6Co Pld . 93 97 Terre Haute Elec 6Co pfd ... 80 84 Union Title com 18 20 BONDS Atlanta Dlstr Term 6Co '4l ... 62V5 70 Bußalo Distr Term 6G, '4l .. 70 80 Brooklvn Postal Sta 5*4 Cos '4B . 3715 42 Home Tel&Tel FtW 5Vi Cos '35 .103 105 Home Tei&Tel FtW 6% -43 103 106 Indpls Railways Inc SG, ’67 ... 50 53 Indpls Water 4Vi Cos '4O 105 107 Indpls Water s"'o 'SO * '6O . 105 107 Indpls Water 5’5C '53&’54 103*2 105 Interstate T & T s ! iCo '53 93 96 Kokomo Water Works ‘SB .104 105 Vi Lafayette Telephone SC, ’57 102 Morris 5 A; 10 Stores SCo 'SO 99 102 Muncie Water Works SG, ’65 1021a Noblesvtlle HL&P 6*2 ’47 .. .. 97 100 Ohio Tel Service 6" e 47 95 Richmond Water Works 5*V57 10415 106 St. Louis Post Office 5*2% '3B 18 25 Sermour Wtr Ist mtg SC 59 101 104 Terre Haute Water Terre Haute Wat Wks 6G. -49 10 3 105 Traction Terminal 56i ‘57 .... 69 73 •Ex. dir, 1*

TAKE OVER REINS OF GENERAL FOODS

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Key positions in General Foods Corp., $65,000,000 holding company, today are held, by Colby M. Chester, left, and Clarence Francis following the resignation of Edward F. Hutton as chairman of the board. Mr. Chester, upon resigning his office as president, was elected lo the chairmanship, and Mr. Francis was advanced from executive vice president to president. The office of executive vice president has been eliminated.

SWINE VALUES REMAINSTEADY Cattle Prices Tend Lower; Veals. Lambs Hold Unchanged. A steady trading range ruled in the po'rk market today at the Indianapolis Union Stockyards. Initial trading was practically a continuation of yesterday's session with demand somewhat lighter. Receipts were estimated at 5000, the same as in the preceding session. Holdovers numbered 130, The top price paid for good and choice weights held at $9.80, Receipts were reported at around normal at surrounding livestock centers. The general bulk of 160 to 250 pounds cashed in at $9.65 to $9.75. In the heavyweight division butcher classes scaling 250 to 400 pounds brought $9.50 to $9.60, Light kinds weighing from 100 to 160 pounds sold at $9.10 to $9.60. Good packing sows brought $8.75 to $9.60. The cattle market was slightly lower, especially in slaughter steers where the usual Friday cleanup trade prevailed. Most steers and heifers were valued to sell downward from SB. Slaughter cows brought $4.50 to $6, while bulls held at $4.25 to $6. Receipts were 500. Veal prices continued stationary in the fifth consecutive session this week. The bulk of good and choice kinds sold at $10.50 to sll. Receipts were 400. Lambs were steady, with fpd Western kinds holding at sll. Slaughter grades sold mostly at $4.50 down. Receipts numbered 2500, HOGS Dec. . Bulk. Top. Receipts. 7. $9,901,1 10 00 $lO 00 2000 9. 10.00® 10.25 10.25 5000 10. 9.85010.00 10.00 8000 11. 9.70® 9.75 .9 75 6000 12 9.650) 9.75 9.75 5000 13, 9.65®; 9.75 9 80 5000 Light Lights (140-160) Good and choice.. $9.35@ 9.60 Medium 8.85@ 9.35 Lightweights (160-180) Good and choice... 9 60/® 9.75 Medium 9.100/ 9.60 'IBO-300) Good and choice.. 9.60® 9,80 Medium 9.20(31 9.60 Medium Weights 1200-220/ Good and choice... 9.65® 9.80 (220-250' Good and choice .. P.6o@ 9.70 Heavyweight* (250-290) Good ard choice... 9.60'5! 9.70 (290-360) Good and choice... 9.50®/ 9.60 Packing Sow's (275-350' Good 9.10®! 9.35 (350-425) Good 9.00®) 9.25 (425-450) Good 8.85®) 9.10 (275-460) Medium 8.75® 9.00 Slaughter Pigs (100-140) Good and choice .. 9.10® 9.60 Medium 8.25® 9.35 CATTLE Receipts, 500 — (500-900) Choice $10.50® 12.50 Good 8.754/11.50 Medium 6.75®> 8.75 Common 5.25® 6.25 (900-1100) Choice 11.50® 12.75 Good 9.00® 12.00 Medium 7.00® 9 00 Common 5.50® 7 00 (1100-1300) Choice 12.00® 13.25 Good 9.25® 12.00 Medium • 7.00® 9.25 (1300-1500) Choice 12.00/313.25 Good [email protected] Heifers (500-750) Choice 9.50® 10 50 Good B.oo® 9.50 Common and medium 4.50® 8.00 (750-8001 Good and choice . 8.50® 11.00 Common and medium 5.00® 8.50 Cows Good 6.25® 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 —Receipts, 400— Good and choice $10.50 , ai1.00 Medium [email protected] Full and common 4.50<g) 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® 8.25 Common and medium 4 25® 6.50 (800-1050) Good and choice.. 6.50® 8.50 Common and medium 4.25® 6.50 Cow* Good 5.00® 6.50 Common and medium 4.00!® 5.00 SHEEP AND LAMBS —Receipts. 2500 Lambs, 90 lbs. down, good and choice .. $10.25® 11.00 Medium 8.50510.25 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 SURPLUS CARS INCREASE Times Special WASHINGTON, Dec. 13.—Clas.s I railroads on Nov. 14 had 232,688 surplus freight cars in good repair and immediately availaable for sendee, the Association of American Railroads announced today. This was an increase of 24.530 cars, compared with the number of such cars on Oct. 31. LOCAL CASH MARKET Citv 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 cent* A Commercial Banking Savings • Trusts , AmericanNationalßank AT INDIANAPOLIS Your Local Building & Loan Association Makes Modernization Loans and Loans on New Homes.

Automobile Financing Increases Automobile financing reported by organizations increased from $11,318,19+ in September to $78,577,367 in October, and compares reith $16,195.8 { / in October, 1931, according to Commerce Department statistics.

Aatoninuarffifiv i 'nfVi • in .

SILVER IMPORTS SHOW GAIN OF 25 PER CENT Shipments to U. S. in November Total $60,065,3*9. By United, Press WASHINGTON, Dec. 13.—Silver imports in November increased approximately 25 per cent over October, the Commerce Department said today. In November $60,065,379 entered this country, compared with $48,897,621 in October. Gold imports fell from $315,423,564 in October to $210,309,729 last month. Silver exports increased from $260,343, in October to $511,864 in November and gold exports from $76,335, to $242,322. Most gold entered the country from France which sent $180,141,395 in November. Chief suppliers of silver were flic United Kingdom with $51,795,394 and Mexico with $4,674,199, it wa.s stated.

DALE NEW MANAGER OF INDIANA SERVICE Succeeds Mullholland to Utility Firm Post. W. Marshall Dale is the new vice president and general manager of the Indiana Service Corp. He was elected yesterday by the board of directors to succeed S. E. Mulholland. Mr. Mulholland resigned and was placed on the retired list after 40 years in the utility field. Mr. Dale, now treasurer and a director of the Public Service Cos. of Indiana, is to take over his new duties in Fort Wayne Jan. 1. He entered the utility field in 1913 when he joined the Kentucky Utilities Cos. Later he became manager of its Virginia properties and in 1920 he was made manager of the investment department, with headquarters in Louisville. Mr. Dale, who is 41, served overseas for 20 months during the World War. He is a. past commander of the John H. Holliday Jr. post of the American Legion and a member of the Service Club of Indianapolis and the Columbia Club. Chicago Crain Futures (By James E. Bennett & Cos./ 10:30 Prev. Wheat— High. Low. A M clos-r Dec 1.01% 1.00% l.OO’i .95’. May 1.00% .99% .99 s * 94% July 91*4 .90% ,91 .89% CornDec -... .59% .59% .59% .58% May 61 .60% .60% .59% July 62 .61% 61% ,60% Oats— Dec 26% .26% .26% .25% Mav 27% .27% .27% 26% July 28% .28% 28% .27% Rye— Dec 52% ,50% .50% 48% May r,4 .53% 53% 50% July 53 1 3 .53 53 50%

WE OFFER $171,000.00 Trustees ot Indiana University *U/ Cf •> /2 /o Administration Building and Power Plant Bonds Dated December 15, 1935 Denomination, SSIM1 —$1.00<! Interest payable semi-annually on February 15th and August 15th of each year at the First National Bank, Bloomington, Indiana, first interest payable August 15, 1936. MATURITIES AND YIELDS $2,500.00 Feb. 15, 1937. .1.50% $6.,000.00 Feb. 15, 1919 3.00% 6.000.00 Feb. 15, 1938 1.75%, 6.500.00 Feb. 15, 1950 3.05% 3.000.00 Feb. 15, 1939 2.00 % 6.500.00 Feb. 15, 1051 3.05% 6.500.00 Feb. 15, 1940 2.25% 9.000.00 Feb. 15, 1952 3.10% 3,500.00 Feb. 15, 1941 2.40% 9,000.00 Feb. 15, 1953 3.10% 7.000.00 Feb. 15, 1942 2.50% 8,000.00 Feb. 15, 1954 .3.10% 4,000.00 Feb. 15, 1943 2.60 % 8,500.00 Feb. 15, 1955 .3.10% 5.000.00 Feb. 15, 1944 2.75% 8.500.00 Feb. 15, 1956 .3.10% 6,500.00 Fet. 15, 1945 2.90% 9,000.00 Feb. 15, 1957 3.15% 5.000.00 Feb. 15, 1946 2.95% 9,500.00 Feb. 15, 1958 3.15% 6,000.00 Feb. 15, 1947 3.00% 10.000.00 Feb. 15, 1959 .3.15% 7.500.00 Feb. 15, 1948 3.00% 9.500.00 Feb. 15, 1960..3.20% $8,500.00 Feb. 15, 1961 3.20% The above bonds are a part of a total issue of $231,000.00 and are general obligations of the Trustees of Indiana University payable out of any income of the University as provided by Chapter 53 of the Acts of 1&35. These bonds were issued for the purpose of procuring funds for the construction and equipment of anew Administration Building to be located on the campus of the university and for an extension of the university power plant, to which projects P. W A. grants have been allocated in the aggregate amount of $217,000.00 and additional aid granted by the State in the amount of $75,000. % Legally approved by Matson, Ross, McCord & Clifford, Indianapolis. City Securities Corporation 417 Circle Tower Lincoln 5535

PURSE HABITS OF NATION TO BE SURVEYED Demand for Goods, Services in 49 Selected Cities to Be Checked. By United Press WASHINGTON. Dec. 13—The Department of Labor undertook today to find out, for the sake of business, the spending habits and spending possibilities of the nation's wage earners. Frances Perkins Secretary of Labor, announced that a survey would be made of consumption of goods and services in 49 selected cities, large and small. The Works Progress Administration will provide the field force and the Bureau of Labor Statistics the necessary trained personnel. The study will covpr families in all income groups, ranging from those living on low levels to those with yearly incomes of $20,000 or more. One of the main results of the survey will be to provide more adequate information for preparation of cost-of-living indices, which now- are based on consumption habits of 1918-1919 Among questions to which answers will be sought are: How spending habits differ among families with similar income in dif-ferent-sized communities and different parts of ihe country? How do rural families differ from urban families in spending habits? At what income levels are luxuries customarily purchased? PWA JOBS INCREASE MAN-HOURS OF WORK $130,000,000 Paid to Workers Since 1933 on Cement Projects, i imes Special WASHINGTON, D. C, Dec. 13 - More than 70.000.000 man-hours of employment has been created since August, 1933, in producing and transporting cement used on Public Works Projects, Harold L. Ickes, PWA administrator, has been informed by the United States Bureau of Labor Statistics. During the period more than $130,000,000 paid for production and handling of the cement went largely for wages, it was announced. This was the outstanding fact revealed by a survey of labor utilization in the cement industry which was shown to have benefited by orders for 62.000000 barrels of cement for use in the first PWA programs up to October, according to reports made by contractors to the department. The benefits accruing to the cement industry from the second PW ; A program now underway were not covered in the survey. B. & 0. LOADINGS RISE Increase of 2816 Cars Reported for Week Ended Dec. 7. Times Special BALTIMORE, Dec. 13.-Cars loaded on the Baltimore & Ohio Railroad for the week ended Dec. 7 amounted to 40 357, comprising 26.970 cars loaded on line and 13,387 received from connections, the company reported today. This was an increase of 2816 cars over the preceding week, when th" total was 37,541, consisting of 24,633 loaded on line and 12.908 received from connections. It wa,i also a substantial increase of 5384 cars over the same period of 1934. LAMP SALES SPURT Times Special NEW YORK. Dec. 13.—Sales and production of Tung-Sol Lamp Works, Inc., Newark, N. J., during the months of September. October and November increased more than 100 per cent over the corresponding period last, year, with each consecutive month establishing anew high record in the history of the company, it was announced today.