Indianapolis Times, Volume 47, Number 282, Indianapolis, Marion County, 3 February 1936 — Page 11

- - ■ Trends War Expenses Make Biggest Dent in Budget. BY JOHN T. FLYNN ■VJEW YORK, Feb. 3.—As the Treasury makes ready to pay the bonus, this is a good time to look at that much discussed burden—the budget—and ask ourselves what most of the money goes for. We pride ourselves on being the one great

peace - loving nation of the world. We are in a period of profound peace now threats all about us, to be sure —but peace reigns throughout the land. But steeped in peace as we are, what do you suppose the great bulk of all our socalled ordinary government expenses are for? War.

Flynn

Let's look at our last normal year—l 929-1930. That year the Federal government spent in round numbers $4,000,000,000. Os this huge sum we spent $2,225,646,000 on war—past wars and future wars. This was for the Army and Navy, pensions, interest on war debts, retirement of war debt. In other words, out of every one of Uncle Sam’s dollars spent in 192930, we spent 55.7 cents for war. This left only 44 3 cents for all the other expenses of the government. nun TN the last fiscal year the ordinary expenses of the government were $3,621,000,000. Os this $2,300,000,000 was for war —6l cents out of every dollar. Now we are in another fiscal year. What we will spend no one can say. The President told us on Jan. 7 that the general expenses of the government this year, exclusive of emergency relief, would be $5,654.000,000. Since that time some changes must be made. We will have to impose anew tax to take the place of the outlawed processing taxes. But we will have to add another $200,000,000 to take care of refunds. Also, we must add $2,000,000,000 for the bonus. Therefore, the total expenditures, exclusive of emergency relief, will be about $7,850,000,000. How much of this will be for war? In the budget as it stands is nearly a billion for national defense, and $790,000,000 for veterans’ benefits and administration, and about $900,000,000 in retirements and interest on the war debt. Add $2,000,000,000 for bonuses and you will have a total of $4,600,000,000 —a little less than 60 cents out of every dollar. n n n ~a\ 7HILE we consider the ques- ’ ’ of neutrality, it would be well to remember what war costs. The price must be wrung out of the hides of the people, not for a year but for generations. This appalling cost will go on year after year and still we make little or no impression on the gigantic war debt of 16 billion dollars which we owe from the last war. And this year, aside from the exhausting demands of the bonus, we have the greatest military expenditures on the Army and Navy we have ever had in a year of peace. And this by a President who stoutly and persistently protests that he is devoted to the cause of peace. We rail at relief costs., at recovery expenditures and at unbalanced budgets. It is not the emergency costs, big as they are, that make budget balancing impossible. It Is war. War is a crime not merely against civilization and culture, against our young men. It is a crime against good business. (Copyright. 1936, by NEA Servlet. Inc.) On Commission Row iQuotations below subject to change are average wholesale prices being offered to buyers by local commission dealers.) FRUlTS—Strawberries, Florida pint. 23c. 36-pint crate, 22c. Cranberries. C. C. Howes. Fstmo’-cs. 25-lb. box. 53.25. Pears. Washington D'Anjo ilOOs boxy $3.25; Washington Bose iloo-120s). $3,25; California. Avocado 1203-24*), 53.50. Grapes. Extra Fancy Kmpors < 34-lb. sawdust chest), $3.75. Limes, Mexican tcarton I2si. 25c; Persian seedless (doz.l, 45c. n.:tes. Fresh Arizona. 31.50. Bananas, seven hands, pound. sc. Apples, Delicious (fancy baskets). $1.75; Jonathans. $1.50; Grimes Golden. 31.25: Rome Beauty. $1.65. Lemons. Sunkist '36osi. $6. Grapefruit. Texas seedless >s4v96si. $3.50. Arizona Sur.kist 180s•. $2.75. Tangerines. Florida (120s. 144 r. 168* 1 . $175. Vegetables- Articokes, California idoz.), 31.15. Beans, green, round stringless i hamper'. $3.25. Beets. Texas (3 doz. crate). $1 50; cut, offs tbu.t. sl. Urussels Sprouts. California (quart', 20c. Cabbage. New York Dannish < 50-lb. bag'. 30c New Texas icratet. $1.50. Red cabbrg" ■ 50-lb. bag), S2. Carrots. California 17 dor. crate. $3 50; Texas 3 1 3 dor. crate). $1.75: (bushel'. $1.50. Cauliflower, California (12s crate). $1.75. Celery. Florida washed and trimed (doz.l. 600; 31.05: Florida (4s. 6s. Bs. 10s crate). $4. Cucumbers, hothouse 'doz.l. $1.75; southern (bushel), $6. Egg Plant. Florida ■doz ). $l5O. Kale. Virginia (bushel). 90c. Lettuce. Iceberg Arizona (best 4s. ss), $3.23; home grown leaf 115-lb. basket*). $1.15. Endive. California (doz.l. 90s. Peppers, mangoes (crate), $5.50; peck basket. $1.50; (doz.l. 60c. Mint, hothouse idoz.i, 75c. Mushrooms (pound'. 30c. Mustard. Texas (bushel), $1.35. Onions —-Indiana yellow <SO-lb. bagi, $1.35; Indiana yellow 110-lb. bag'. 28c: Western Spanish 130-lb. bag'. $1.65. Oyster plant, home grown (do*.), 40c. Parsley, southern 'long bunches doz.'. 50c. Parsnips, home grown washed (busheli. $1: (half bushel). 60c. Pras. Florida ihamperi, $3. Potatoes. Michigan Round White (100-lb. bag'. $1.75; Maine Green Mountains 1100-lb. bag'. $2.50; R. R. Early Ohio* (100-lb. bag'. $185; R R Cobblers tIOO-lb. bag'. 81,75: Idaho Russets (100-lb. bag'. $2.35; Idaho bakers (70s box', $2 40; 00l McClures 1100-lb. bag'. $2; New Texas Triumphs (50-lb. bag'. $2.15. Sweet potatoes. Indiana Jerseys 11s bushel). $1 50; mediums 1 bushel'. $1; Tennessee Nancy Halls (hamper). $1 IS; Southern Porto Rickrts (bushel crate), $1.50. Radishes, home grown buttons (doz.). 40<W50c; white. 40c. Rhubarb, hothouse (bunch'. 50c. Rutabagas. northern iSO-!b bag), 85c. Sage (doz.l. 45c. Shallot*. Louisiana (doz.*, 45c Spinach New Texas ibushel). 15c. Turnips, home grown washed bushel). $1 50 Tomatoes, repacked 1 10-lb. box), 81.35; original Cuban '3O-lb. lug>. $3. FRUITS and vegetables IBy United Press' CHICAGO. Feb. 3—Apple*—Michigan. Mclntosh. bu.. [email protected] Carrots— Illinois, bu.. 40 'it 50c. jweet potatoes— Tennessee, bu.. 85® 90c Beans—Florida, bu., *2@3. Cabbage sacks per hundred weight. *l3s® 150 Peas — California, bu. hampers. $1 753.50. Spinach—Texas, bu.. oc@*l.s<V Lettuce —western crates. 5 doz . $2 2592.65. Cucumbers—Cuban bus.. 811/3 50. Celery—Florida crates $2.75*73.50. Cauliflower —California, crates. si*rl 40 Tomatoes—Mexican lugs. *2.25@'2 85 Onion market 1 50-lb, sack*), western Valencias 81.10: Illinois yellows. 75@85c; Indiana yellows, 81.0714.

NEW, YOUTHFUL RESERVE BOARD ASSUMES TASKS Revamped Group Has Strong Powers to Curb Use of Bank Credit. BY RICHARD L. GRIDLEY United /’ress Staff Correspondent WASHINGTON. Feb. 3.—Vast new credit and monetary powers that may affect the course of American business for many years were in the hands of anew and youthful Federal Reserve Board today. Steps to prevent government financial and monetary policies from promoting a speculative boom in security and commodity markets appeared to be the first order of business of the new board. It has strong powers to curb use of bank and other credit for speculative market purposes. These fall into four classes: Margin trading in securities can be prohibited; excess reserves of member banks which form the base for a possible expansion of credit by $30,000,000,000 can be erased by doubling of reserve requirements; the system can sell its $2,430,000,000 government security holdings to restrict credit and banks can be forced to restrict their security lending business. Face Knotty Problem Inflation sentiment stirred up in American security and money markets which have sent stock prices booming and the dollar lower has brought the new board’s credit problems to the forefront and created one of the knttiest problems ever i faced by a Federal agency. At the same time the government was looking for “new blood” to fill vacancies in other financial agencies. One additional member is to be selected for the Reserve Board. There are vacancies in the position of Undersecretary of Treasury; Assistant Secretary of Treasury, Deputy Controller of Currency and the board of the Reconstruction Finance Corp. Not Alarmed by Huge Debt The new Reserve Board comprising Marriner S. Eccles, of Utah; M. S. Szymczak, of Illinois; Ralph W. Morrison, of Texas; John McKee, of Pennsylvania; Ronald Ransom, of Georgia, and Joseph A. Broderick, of New York, is expected to be sworn in today. The new board, headed by the energtic 45-year-old Eccles ,is relatively youthful, the average age of the six appointed members being less than 50 years. Retention of Messrs. Eccles and Szymczak on the new board and the dropping of four of the old members as well as recent Treasury resignations stirred talk of possible differences of opinion among Administration financial leaders over New Deal economic policies. Messrs. Eccles, Szymczak and Morrison have advanced economic views such as heavy government spending to defeat the depression. M% Eccles is not fearful of a gigantic public debt to finance the spending. He told the House Banking Committee that the United States could stand a public debt of $97,000,000,000, compared with the present debt of $50,500,000,000.

URGES COMPLETION OF FEDERAL BUDGET Uncertainty Confuses Trade, Committee Reports. I>;/ United Press WASHINGTON, Feb. 3.—Reports to the board of directors of the United States Chamber of Commerce from three of its committees today urged early completion of the Federal budget, elimination of government housing subsidies and amendment of the pending ship subsidy bill. Chairman Fred H. Clausen of the chamber's committee on Federal finance reported business is confused by uncertainty regarding next year’s budget. The report declared outstanding characteristics of the next fiscal year would be “the largest revenues, the largest expenditures and the largest deficit in the peacetime history of the country.” It urged that Federal relief funds “be held to the lowest possible figure.” A balanced budget, Mr. Clausen said, that would eliminate fear of new and heavy taxes and place an effective brake on inflationary trends "would give the nation the surest foundation for permanent recovery.” Another report from the special committee on housing urged a return to reliance upon private initiative and enterprise in the building field and abandonment of the government’s subsidized public housing activity. U. S. GRAIN IMPORTS SET RECORD IN 1935 106,690.000 Bushels Exported by Foreign Countries. Times Special NEW YORK. Feb. 3.—Grain imports into the United States during 1935 amounted to 106.690,000 bushels, a record volume. Department of Commerce figures showed today. The figures contrast with 40.807.000 bushels imported from foreign countries in 1934. Exports of grain from the United States during the last year amounted to only 8.491.000 bushels of which 7,506,000 bushels was barley . Imports of wheat alone to this country during the year totaled 38.871.000 bushels, compared with only 17.952,000 in the preceding year. Exports of the major grain to foreign countries in 1935 was reported at 234.000 bushels, contrasted with 16.970,000 bushels in 1934. Wheat exports by the United States in the six years, preceding 1933. averaged 96,649.000 bushels annually, and in 1927 totaled 168,000 bushels.

Abreast of The Times on Finance

New York Stocks

'By Thomson ic McKinnont 11A.M. Prev. Oils— Histn. Low. N. Y. Close. Atl Rig 30%3330 3 30% 3044 Bamziall 17V* 17% 17'* 17 Consol Oil 16% 16% 16% 14 1 i Cont o i Del ... 37 36% 36V* 36% Houston (new) . 11% 11 % 11% 11% Mid Cont Pet .. 21% 2121% 21V* Ohio Oil 18% 16% 16% 16% Pet Coro 17'* 17 17 17* Phillips Pet 43 3 * 43*ii 43% 42V* Plymouth Oil ... 14 3 * 14* 14% 14 s , Pure Oil 19% 19 s * 19% 19% Royal Dutch . 57 57 57 55% Seaboard Oil .. 35% 35% 35% 35 5 /* Shell Un 18 „ 18'* 18’* 18 Skellev Oil 25 7 , 25 3 * 25 3 26 Soc Vac 16'2 16'* 16'* 16',s S O Os Cal 44'4 43 3 * 43% 43% S O of Ind .... 38% 38'* 38'* 38% S O of N J 60'/* 59 3 * 59% 60 Texas Corp . .. 34% 34 34 3454 Tidewater Assn . 18% 18% 18% 18 Un Oil of Cal .. 25 s . 25% 25 % 25 Steels— Acme Steel .68'* 68'* 68% 68V* Am Roll Mills 32 31 3 * 31% 311* Beth Steel 52'.* 51% 51>2 52 Inland Steel ...105 105 105 105 Ludlum Steel ... 28% 28% 28% 28 3 /* Mid Steel 22 21% 21% 22% Natl Steel 72 Vi 72 72% 72 Otis Steel . .. 16'/ 2 16% 16% 16% Rep Xr & Steel 21% 21% 21’/* 21 ',2 U S Pipe & Fdv 34'/ 2 33% 33% 34 U S Steel 50'/2 49% 49% 50% U S Steel pfd... 119% 119V 2 119'a 119V2 Warren Bros . 6% 6% 6% 6% Youngstn S & T 47% 47'/ 2 47% 47V2 Motors Auburn 43% 43 43 43 Chrysler 93 91% 92'/* 93% Gen Motors ... 59% 59 59 59% Graham Mot ... 3% 3% 3% 3% Hudson 15% 15% 15% 15% Hupp 2% 2% 2% 2% Mack Truck . . 28% 28% 28% 28% Nash 18 17% 17% 17% Packard 8 8 8 8 Reo 5% 5% 5% 55s Studebaker ... 10Va lo 10 10 Yellow Truck ... 15'/* 14% 14% 15% Motor Access— Bendix 23Va 23 Vi 23 V* 23% Bohn Alum .... 58% 57V2 57% 58% Borg Warner ... 71 70% 70% 70'/ 2 Briggs 53% 53% 53% 55% Buda Mfg 10% 10% 10% 10'/ 2 Budd Wheel .... 12% 12% 12% 12% Elec Auto Lite . . 38% 38% 38% 38'% Murray Body .. 17% 17% 17% 17% Stew Warner .. 20% 20% 20% 20% Timken Roll . 68 68 68 68% Timken Det Axle 15% 15% 15% 15 1 /* Mining— Alaska Jun ... 16% 16% 16% 16 Vi Am Metals 34% 34% 34% 34% Am Smelt 64% 64% 64% 64% Anaconda 30'/* 29% 29% 30V* Cal & Hecla ... 7% 7% 7% 7% Dome Mines ... 49% 49% 49% 49% Granby 9% 9% 9% 9% Gt Nor Ore 16% 16% 16% 16% Howe Sound ... 52% 52% 52% 53% Int Nickel 49 48% 48% 49% Kennecott Cop . 32% 32% 32% 33'a Mclntyre Mine . 46% 45% 46% 45 s * Park Utah 4% 4% 4% 4% Phelps Dodge ... 33 32% 33 33 St Joe Lead 27% 27% 27% 27 Loews Inc 52% 52% . 52% Radio Corp .... 12% 12% 12% 13 Paramount 11% 11 11V* U l /* RKO 7% 7% 7% 7% Warner Bros ... 12% 12% 12V* 12% Tobaccos— Am Tob 8... 102 102 102 102% Ligg & Myers 8.114% 114% 114% 114% Lorillard 25% 25% 25 V* 25 % Reynolds Tob B 58'/* 58 Vg 58'/* 58 Vs Rails— Atchison 73% 73% 73% 74% Atl Coast Lines . 30% 30% 30% 30% B & O . 18% 18 18 18 Can Pacific ... 12% 12'/* 12% 12% Ch & Ohio 58 V* 58 58 V* 58 V* C M & St P . 2'/ 2 2Vi 2% 2‘,2 CM& St P pfd 4% 4% 4% 4% Chi N W 4% 4'/ 4Vs 4% Dela & Hud ... 41% 41% 41% 41% Del Lac & W... 17% 17% 17'/* 16% Erie pfd 24% 24% 24% 24V* Gt Northern pfd 35% 35 35 35Vs 111 Central 22% 22% 22% 22V* Lehigh Valley.. 9% 9% 9% 9% Lou <fc Nash 74 74 74 74% M K & T 8% BVi 8% 8% M K & T pfd ... 21% 21% 21% ... Mo Pac 3% 3% 3% 3% N Y Cent 34% 33% 34% 34 N Y Ont & West 6% 6% 6% 6% Norfolk & West 26% 26% 26% 26% Penn R R 35% 35% 35% 35% Reading 43 '/a 43 Vi 43 V* 43 Sou Pac 30V* 29% 29% 30'/* West Maryland. 10% 10'/* 10% 10 Equipments— Am Brake Shoe 46% 46% 46% 46% Am Car & Fdy. 33 32Va 33 33% Am Loco ... 28% 28% 28% 28V* Am Steel Fdy . . 27% 27% 27% 27 Bald Loco 5V* 5 5% 5% Gen Am Tank C 57% 57% 57% 57 Gen Elec 39% 38% 39 39% Gen R R Sig ... 48% 48% 48% 48% Pullman Inc ... 43% 43% 43% 44V* West Air Br ... 38% 38 38 38% Wcstmgh Elec . 113% 112% 112% 114 Utilities— Am & For Pwr 8% 8% 8% 8% Am Power & Lit 10V* 9% 10 9% AT&T .162% 162 162 161% Am Wat Wks ... 22% 22% 22% 22% Col Gas & Elec. 16% 15% 15% 15% Comm & Sou ... 4'4 4 4 43/. Consol Gas 35% 35 35 35% Elec Pwr & Lit 9% 9% 9% 9% Int Hydro Elec .5 5 5 5 TANARUS&; T 16% 16% 16% 17 Lou G & E ‘A’. 23 23 23 23% Nat Pwr <fe Lit . 12% 12% 12% 12% North Amer .... 28% 28% 28% 29 Peoples Gas .... 45% 45% 45% 15% Pub Serv N J . 46% 46% a6% 47>4 So Cal Edison 27% 27% 27% 27% Std Gas ... B'/a B'* 8% B'4 Stone & Webster 17% 17% 17% 17% United Corp ... 8% 8% 8% B'/* Un Gas Imp . . 18% 18% 18% 18% Ut Pwr &Lt‘A . 5% 5% 5V* s'* West Union .. 76% 76% 76% 76% Rubbers— Firestone 29% 28% 28% 28% Goodrich 18 17% 18 17 3 * Goodyear 25% 24% 24% 24% U S Rubber ... 18% IS 3 ! I8 3 ! iai U S Rubber pfd 57% 57% 57% 57% Miscellaneous— Allis Chalmers .. 40% 40% 40% 41% Am Can . 123 123 133 123 Am Mach & Fdy 27% 27% 27% 27% Anchor Cap ... 21% 21% 21% 21% Burroughs Add 28% 28% 28 282 1 , P a ®p 105 % 105' i 105% 105 s * rw ll n? an 28 ** 28% 2 8% 29 Caterpillar Tract 63% 63% 63% 63% Deer & Cos. .. 66% 66% 66% 67 Eastman Kodak 157% 157% 157% 157 Gjllette 17% 17% 17% 17% Gl' dd en SO% 50% 50% 50% Inter Harv . ... 65% 65'- SS'4 Natl Cash Reg . 23% 23% 23% 23% Rem Rand 21% 21% 21% 21% Underwood E .. 93 93 93 92 Foods— Am Sugar 56% 56% 56>/a 56% Armour 6% 6% 6% Borden Prod 28% 28 28 27% P r Y. .9. A 15% 15% 15% 15 Cont Bak A.. 13 12 7 * 12 ii/ Corn Prod ..70 70 70 70% Crm of Wheat . 37% 37%, 37% 37% Cuban Am Sugar 8% g' 8% 8% Gen Baking .., 12% Gen Foods 34% 34% 34% 34% Gold Dust 19% 19% 19% IQ% Natl Biscuit ... 33% 33 33 8 34 8 Natl D Prod ... 23 23 oo Purity Bak .... 14, 1414 141/, 141. Std Brands \e 15% 15% 5.% United Fruit ... 77% 77% 77% 77 Retail Stores— Allied Stores... 7% 7% 71, 7s. Best *Co .. 50% 50% 50% 51'Fist Natl Stores 46 46 46 45% Jewel Tea 68 68 68 68 Kresge S S 23% • 7 % 23% 24 Kroger Groc ... 26% 18% 26% 26% MBcy R H 45% 45% 45% 45% McCrory St 14 14 14 13% McLellan St .. 14% 14 14 13% Marshall Field . 11% 11% 11% 111, Mont Ward .... 37% 37'* 37% 37'Natl Tea 10% 10 s * 10 s , 10% Penney J C .. 71% 71% 71% 71% Sears Roebuck.. 63% 63% 63% 63% Woolworth 53'% 53% 53% 53% Aviation— Aviation Corp... 6% 6% 6% 6% Boeing A ire ft .. 24% 24 5 , 24% 24% Curtiss Wright . 4% 4% 4% 4% Curtiss Wr "A". 13% 13% 13% 13% Douglas Air 71 70% 71 71 Nor Am Av 8 7% 7% 7% Sperry Corp . 21 s * 21% 21% 21% Uni Aircft New 27% 27% 27% 27% Busigraphs TREND OF v PRICES OF FARM PRODUCTS S END OF YEAR z 150* UJ ___ 2 3 S m 3 100 - rr - i Ljl ! 1 50 - “ i “Tfll j* “ r LI lii lii I.il LI liil liil 3 029 1930 1931 1932 (933 t93* 1935 THE PARKER CORP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS % The prices of farm products went up last year nearly all around, but with two important exceptions—cotton and grains—ended the year lower. Meat animals took the biggest jump, advancing 64 per cent during the year, with poultry products following with a per cent gain. Commodity prices, as a whole, went up 4Vs per cent during 1935, according to the Department of Labor index, while the price index of farm products increased 9 per cent.

MONDAY, FEBRUARY 3, 1936

Chemicals— Col Carbon 108% 108% 108% 107% Com Solvents .. 20% 20 s * 20% 21 Freeport Tex ... 35 35 35 34 Liquid Carb 38% 38% 38% 31% Math Alkali .... 31% 31% 31% 31% Schenley Dist •• 46% 46% 46% 46% Tex Gulf Sulph 38% 38% 38% 37% Union Carbide 75% 75 75% 76 U S Ind Alcohol 39% 39 39 39% Drugs— Bristol Myers .. 44% 44% 44% 45 Coty Inc 6 6 6 6% Lambert 22% 22% 22% 22 Lehn & Fink .. 13% 13% 13% 13% Un Drug (new). 15>/ 4 15 15V* 14% Financial— Adams Exp . 12% 12% 12% 12% Allegheny Corp 4% 4 4 4% Am Int Corp ... 12 12 12 12% Chesa Corp .... 72 71% 72 71% Transamerica .. 12’* 12% 12% 12% Building— Am Radiator ... 23% 22% 22% 23% Gen Asphalt . 32% 31 s , 31 s * 31% Holland Furnace 35% 35% 35% 36V* Int Cement .. 41% 41% 41V a 40%Johns Manville 112% 113% 113% 113% Libby Owens Gls 51V* 51 51 51 Otis Elev 25'/j 25% 25% 25% U S Gypsum ... 97'/* 97'% 97V* 97 Household—\ Col Pal Peet ... 19'/* 19% 19V* 18% Kelvinator 18% 18V* 18V* 18V* Servel Inc 17% 17% 17% 17% Textiles— Amer Woolen .. 11% 10% 10% 11V* Belding Hem ... 13% 13% 13% 13% Celanese Corp . . 28% 28% 28% 28 7 * Collins Aikman . 51% 50% 50% 50% Indus Rayon . . 29% 29% 29% 29% Real Silk 15% 15% 15% 16 Chicago Stocks (By Abbott, Proctor & Paine) 11:00 Prev. A. M. close. Berghoff 7% 7% Butler 9 8 Chicago Corp 5 5 Cities Serv 5% 5% Com Edison 106 105% Conti Steel 40 V* 40% Cord 6 6% Crane 27% 27 % Elec House Util 16% 17 Gen House Util 4 3 * 4% Grt Lakes Dredge 31V4 31% Libby 9% 9% Lynch Corp 53 Vi 53 Noblitt Sparks 31'/* 31 % Pub Serv 59 59 Swift 23% 23% Swift Int 35 35 Zenith 14 14 New York Curb (By Abbott, Proctor & Paine) 11:30 A. M. Prev. N. Y. Close. Alumn Cos of Am 94 % 95 Am Cyanide ’B'’ 33% 33% Am Superpower 3%' 3% Atlas Corp 14V* 14% Carrier Corp 11'/* 11% El Bond & Share 18% 18% Fisk Rubber 8 8% Ford of Can “A” 26 26 Ford of Europe 8% 8% Imperial Oil Ltd 24 23% Lake Shore Min 57 57% Nia Hud Pwr 10% lOV2 Penn Road 5V* 5% FARM MEMBERSHIP CAMPAIGN TO OPEN Bureau Officials Outline Extensive Program. The Indiana Farm Bureau Federation has outlined an extensive membership drive scheduled to get under way about Feb. 8. Many prominent Indiana farmers will take part in the campaign by addressing meetings which are to be launched throughout the state. Radio parties are being organized in each county under the direction of the state federation and county Farm Bureau units, in co-operation with the American Farm Bureau Federation, for the purpose of listening to the Farm Bureau broadcasts from Washington and Chicago during the National Farm and Home hour next Saturday over the combined NBC network. Prominent national Farm Bureau leaders are scheduled to speak on the program. They are Edward A. O'Neal, president of the American Farm Bureau Federation; Earl C. Smith president of the Illinois Agricultural Association; R. w. Blackburn, president of the California Farm Bureau Federation, and Mrs. Charles W. Sewell, administrative director of the Associated Women of the American Farm Bureau Federation. Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers’ Trust 66% 68 Central Hanover B & T 116% 118% Chase 41% 43% Chemical National 56 5734 Guaranty 299 302 % Irving 1754 igi/g Manufacturers 48% 50% National City 37 t 4 393" C?nt II (Chicago) 131 Va 133% First National of Boston 48 49% National Shawmut 28 29% FIRE INSURANCE Aetna Fire 65% 67'% Amer Ins of New’ark 16% 18% •Baltimore American 9% n% City of New York 32% 34% Federal Ins 104 109% Franklin Fire 34% 36V* Great American Ins 31'/a 33% Hanover Fire Ins 40% 42% Hartford Fire Ins 88 90% Home Ins 39% 41% Ins Cos of N A 83% 85'/* National Fire 84% 86% •National Liberty 11 '* 12 s * North River Ins 29% 31% Phoenix 101 104% h S Fire 58% 60% Westchester Fire 40'/2 42% •Ex. div. Produce Markets The prices quoted are paid for stock gathered in the country, while delivered in Indianapolis the price is a cent higherer. Heavy breed hens. 18c; leghorn breed hens, 13c; Leghorn springers. 12c; old stags. 13c; old cocks 9c. Ducks, white. 5 lbs. and over. 11c: geese, full feathered, all sizes, 10c: all guineas. 1% lbs. and up. 15c; No. 1 strictly rresh eggs, loss off. 21c. Each full base must weight 55 lbs. gross, a deduction of 10 cents a pound under 55 lbs. will be made. No. 1 butter. 37%5?38%c: No. 2. 34%<&'35%c. Butterfat, 32c. Quoted by the Wadlev Cos. By United Press) CHICAGO. Feb. 3.—Eggs—Market firm; receipts. 4374 cases; fresh graded firsts. 24%c; extra firsts. 24%c; current receipts. 23%c: dirties. 21%c; checks. 19c. Butter — Market, firm: receipts, 5867 tubs; extra firsts (90-91% score'. 33ti33 3 *c: extras >92 score). 34%c; firsts >BB-89% score). 32 , 5'32%c: seconds <B6-87% scorei. 31c: specials. 351i35%c: standards. 34c. Poultry —Market, steady-easy; receipts, 12 trucks; ducks. I7t/22c; geese. 17c: spring chickens. 24#25c; hens. 18<523%c: turkeys, 20'S 23c; capons, 2426 c: Leghorn hens. 14S 19c; ci-1 roosters. 17c: broilers. 22%4?25c. Cheese —Twins. 16(gl6'*c daisies. lS'i’fc 16%c; Longhorns, !6%4/16%c. Dressed poultry —Turkeys, young Toms. 27c; young hens, 27c; capons. 2Vn3Dc. Potatoes—Supply moderate, demand good: market barely steady with slightly weaker tendenev. Idaho Russet. Burbanks. 51.80i51.95; U. S. No. 2. 51.305T.50; Wisconsin round whites. $1.25%51.20; Colorado McClures, $1.50S 1.55; Nebraska Bliss Triumphs. J1.30S 1.45. Arrivals. 206: on track. 281- ship- ! ments, 883 tSaturdayi, 62 (Sunday). CHICAGO FUTURES RANGE (Bv James E Bennett & Cos.) 11:00 Prev. Wheat— High. Low. AM. close. May 1 00% .99% ,99 s * 1.00% July 89% 88% .88% .89 Sept 87% .87% .87% .87% Corn— May 60% ,60 s * .60% .80% July 60*, .60% .60% .60% Sept 61 .61 .61 .61 Oat*— May 28% .28% .26% ,28 s * Sept 27% .27% .27% .27% RyeMay 57% .57 .57 .57'July 56'* .55% ,55 s * .56% Sept 55% 55% .55% .56 LOCAL CASH MARKET City grain elevators are paying 95 cents for No. 2 soft wheat. Other grades on their mer Us. Cash corn new No. 4 vellow 50 cents and oats 31 cents.

JANUARY TRADE ACTIVITY BEST IN FIVEYEARS Confidence in Improvement Continues Strong, Says Business Week. NEW YORK, F?b. 3. January business activity, though not spectacular, was the best in five years, Business Week Magazine said today. Confidence in the next few months’ improvement continues strong, and earnings statements now coming to light hold many pleasant surprises, the survey declared. “Construction awards were double those of last January. Steel operations held close to 50 per cent of capacity. Motor assemblies slowed down as retail sales lagged, but the month still made a good showing against former Januarys. Cold weather continues the biggest retarding factor in retail trade, with the freezing-line dipping deep into the southern tier of states. The veterans are in the money, and usedcar dealers hope a good many will see them first, and take a load off their hands. “December figures show that unemployment fell below the 9,000,000 mark for the first time since late 1931. Retail businesses contributed most to this achievement by expanding holiday staffs even beyond the 1929 level. But manufacturing employment was also unusually steady, which suggests that industrial activity no longer leans so heavily on the motor industry as it did a year ago. Difficulty in Cotton Trade “The new Reserve Board gets an o. k. from bankers, while the last gesture of the old board in lifting margin requirements proved anything but a damper on speculative spirits. “Woolen mills continue cheerful. Prices are still rising after good gains in 1935. Cotton goods markets h'-ve not yet worked out difficulties resulting from the AAA decision. Many a mill that agreed to rebate refunded taxes is now alarmed at suggestions for retroactive taxes. “Heavy engineering construction during January topped $288,500,000, compared with $148,300,000 a year ago. Though public projects still loom large in the construction picture, private building is emerging. Used Cars Glut Market “With r.ew peak levels of electric power demand, utility plants are beginning to expand plants. “Structural steel awards for January totaled 100,500 tons, compared with 76,380 tons in December. Ma-chine-tool business in January held close to December’s excellent volume. Particularly cheering to steel are the earnings of 1935. For the first time since 1931, U. S. Steel made fourth-quarter profits. Earnings in the last three months alone were enough to wipe out the deficit of the nine preceding months. “Used cars are temporarily a glut on the market, despite all efforts to promote winter driving. Severe weather over wide areas has been more than a match for salesmen. Assemblies of 1936 cars in the first three months since their introduction will be better than they were in the comparable months after the 1935 presentations.” BANK CLEARINGS RISE 3 PER CENT IN WEEK Twenty-two Leading Cities Report Total of $5,272,618 000. Times Special NEW YORK. Feb. 3.—The total volume of bank clearing reported by 22 leading cities in the United States during the week ended Jan. 29 was $5,272,618,000. against $5.119,085,000 in the same week a year ago, an increase of 3.0 per cent, Dun & Bradstreet, Inc., announced today. The percentage increase was much smaller than in previous weeks. For the week ended Jan. 22 the same cities reported a gain of 14.7 per cent. An increase of 2.7 per cent was reported by New York banks, while centers outside showed an increase of 16.6 per cent over the same week a year ago. Clearing for the final week of January were below those for the third week by $548,014,000, whereas for the two corresponding weeks a year ago an increase of $42,682,000 was reported. All centers outside of New York reported gains during the last week. BUILDING TOTAL RISES 40 TO 70 PER CENT 1936 Construction Volume To Cost Between 2 and 3 Billion. Times Special NEW YORK, Feb. 3. —A construction volume of between $2,500. 000,000 and $3,000,000,000 is indicated for 1936 in response to an accumulated shortage in homes and buildings, Distributors Group. Inc., announced today after completing a survey of the building industry. A growing demand for buildings has resulted from depreciation, fire losses, increasing population and present favorable credit conditions, the survey stated. The estimated volume for the year represents an increase of 40 to 70 per cent over the 1935 figures. The annual average construction contracts for the last five years have been about $1,800,000,000. or only 35 per cent of the $5,000,000,000 average for the previous 1921 -30 period, it was reported. At pvesent there is an apparent cumulative shortage of approximately $16,000.000.000 in construction, the survey showed. MATURITIES REPORTED Times Special NEW YORK. Feb. 3.—Approximately $475,000,000 par amount of railroad bonds are to mature durin 1936, exclusive to Reconstruction Finance Corp. loans, short term debt and emergency advances, the Standard Statistics Cos. announced today.

PAGE 11

HOW THEY ARE BUILDING 250 Residential and Industrial Construction in United Kingdom and United States 200 —————— (I*3l Quarterly Average- lOO) 150 U.K.- , A^/ /UK- Industrial w U.S.-Residential pL I I 1, L I 1 1 ...1 i j 1 l. I I l l t i 1931 1932 < 933 1934 1935 I Business WEEK

Great Britain’s building boom started in the residential field in 1932, and is being sustained now by the recovery of industrial construction. In the United States, all construction slumped, but industrial building revived first. Housing is just getting started in a big way.

HOGS UNEVEN IN NARROW RANGE Market Steady to 5 Cents Higher; Cattle, Lambs Unchanged. Price movements were irregular in the hog market today at the Indianapolis Union Stockyards. The general bulk sold at around 5 cents higher, while underweights remained steady with Saturday’s best average. Receipts, which were estimated at 5000, were considered at a normal figure, but slightly higher than in recent sessions. Both trading and demand was fairly active throughout the session, with the latter centering mostly in the medium and heavier classes. Approximately 87 hogs were held over from the weekend session. The bulk of 160 to 225 pounds cashed in at $10.60 to $10.70, while 225 to 260 pounds brought $10.30 to $10.50. Heavy butcher classes, from 260 to 325 pounds, sold at $lO to $10.20. Lightweights, scaling 140 to 160 pounds, ranged from $lO to $10.25. Others, from 100 to 140 pounds, held at $9.50 to $9.75. Packing sows brought $8.50 to $9.25. Trading was stationary in the cattle market, especially in steers, heifers, bulls and cows. Few early sales of steers ranged from $9 down, while best kinds held above $10.50. Bulk of heifers sold at $6 to $7.50. Beef cows brought $5 to $6.25. Receipts numbered 800. The veal market dropped 50 cents in face of an extremely light supply. The bulk of good and choice kinds sold at sll to sl2. Receipts were 300. Lambs also remained unchanged. Bulk of native and fed westerns ranged from $10.50 down. Slaughter sheep held at $3.25 to $5. Receipts were 3000. HOGS Jan. Bulk. Top. Receipts. 28. $10.40® 10.50 $10.50 4000 29. 10.45@ 10.55 10.55 3000 30. [email protected] 10.30 5000 31. [email protected] 10.40 3000 F'jb. 1. [email protected] 10.65 1000 3. 10.60® 10.70 10.70 5000 Light Lights. (140-160) Good and choice slo.oo® 10.50 Medium 9,50® 10.10 (160-180) Good and choice . [email protected] Medium 10.00® 10.50 >IBO-200) Good and choice.. [email protected] Medium 10.10® 10 60 >2OO-220) Good and choice. 10.60® 10.70 '220-250) Good and choice.. [email protected] Heavyweights. (250-290) Good and choice . 10.10010.40 1290-3501 Good and choice . 9.90015 10 Packing Sows. (275-350) Good 9.00 0 9.25 <350-425) Good 8.85® 9.15 (420-550) Good 8.75® 900 '275-350) Medium 8.50® 8.85 Slaughter Pigs. (100-140) Good and choice. 9.50® 10 00 Medium 8.75® 9.75 CATTLF. —Receipts, 800— (500-900) Choice 25 S odd [email protected] Medium 7.00® 9.00 Common 5.25®) 7 00 (900-1100' Choice 12.00®13!25 Y, 0 °, and 9.25® 12.25 Medium 7.25® 9.25 Common 5 7 25 (1100-1 300 ) Choice 12.25® 13.50 Good 9 25® 12.25 Medium 7 50® q (1300-1500) Choice 12.50®13 50 Good [email protected] Heifers (500-750)* Choice 9 00@10 00 Good 7.50® 9.00 Common and medium 4.50® 7.50 (750-900) Good and choice.... 7.50®10 25 Common and medium 5.00@ 7^50 Cows Gh°|ce 6 SO® 7.25 Good 5.75® 6.50 common and medium 5 00® 575 Low cutter and cutter 3.50® 5.00 Bulls, good 6.50® 7.25 Cutter, com. and med. bulls... 4 50® 6.50 VEALERS —Receipts. 300— Good and choice [email protected] i u "? 8.50® 11.00 Cull and common 4.50® 8.50 Calves '250-500) Good and choke .... 7.00®10.00 Common and medium . .. 4 50® 7 00 o „A Fee s* r ~a nd Ska ter Catt!e 'SOO-800' Good and choice . . 7.00® 825 Comn-mo and medium 5.00® 7 00 (800-1050' Good and choice . 7.00® 850 Common and medium .... 5.00® 7.00 Cows Good 4.50® 5.00 common and medium 4.00® 4,50 SHEEP AND LAMBS —Receipts. 3000 — Lambs. 90-lbs. down, good and choice $10.50® 10.65 rvSSmiH. 9.25® 10.00 Ewes 7 ' oo '® 9 25 '9O-175( Good and choice 4.00® 5 00 Common and medium 3.00® 4 00 Yearling wethers good choice 9.00® 950 Mediura 7.00® 9.00 Other Livestock (By United Press' LAFAYETTE. Ind,. Feb. 3.—Hog market steady to 10c higher - 170-210 lb* Ms ten : *i n V lO r?2 lbs • *10.20® 10.30;' 10 10; 260-325 lbs . $9,70 7 9.90: 100-170 lbs.. $9.50® 10. Roughs. SS down; calves. $11.50 down. FORT WAYNE Illd .. Feb. 3,-Hogs--50 higher: 160-180 lbs.. $10.55J B 9-200 OS.. $10.45; 200-225 lbs.. $10.35; 2?3-250 lbs.. $10.25: 250-270 lbs.. $lO.lO- - lbs * lO : 300-350 lbs . $9.70: 140160 lbs.. $10; 120-140 lbs., $9.75; 100-120 lbs $9.55. Roughs. $8.50; stags $6.75 calves. sl2; lambs. $10.25. (By Times Special) . .LpUISVILLE, p e |) 3—cattle—Receipts. 1150. run included several loads directs, salable supply moderate to light; quality fairly desirable; market opening slow' generally steady with last week's close early bulk, common to medium and heifers. [email protected]; some common dairybreds down to around *5. better finished offerings quotable largely $7.50® $8 25; bulk beef cows. $4.75® 5.75; practical top. *6 low cutters and cutters. $3.50® 4.50: sausage bulls salable mostly $5®6.25; odd head higher; light beef tvpe Stockers and stock calves, quotable s6® 8 plainer grade light southerns. s4® 5. Calves—Receipts. 350; market mostly steady with last week's close; bulk good to choice vealers, $10.50® 11.50: medium and lower grades. $9.50 down. Hogs—Receipts. 1100. including 275 direct: how market 10c higher; top and bulk 160-225 lbs., $10.50; 230-250 lbs., *10.20: 255-300 lbs., $9.65; 305 lbs. up *9.20; 120-155 lbs.. *9.40; sows. *8 45. Sheep—Receipts. 150; supply light, market quotable about steady or argely *9® 9.50 for better native lambs; nlainer grade native*. 56.50®8.50; lat ewes, $1 down.

Home Building Gains More than two and one-half times the number of family dwelling units were provided during the year 1935 than in 1934, in all American cities of 10,000 or more inhabitants, according to the Federal Home Loan Bank Board.

STOCK MARKET WEEK IN REVIEW

/>’,</ United Prrxs NEW YORK, Feb. 3.—Stocks and bonds advanced last week, commodities were mixed, the dollar dropped, and business leveled off seasonally. A burst of buying in industrial issues enabled the stock list to close January at the best levels since 1931. Bond averages reached record highs with the exception of the second grade rail average and that touched anew top since 1934. Inflation talk predominated and had an adverse influence on the dollar and some influence on stocks, although the behaviour of bonds and commodities precluded the inflation argument. Traders were elated when the industrial shares swung into line with the railroad and utility issues which had been rising consistently most of the week. Gains in idustrial stocks on Friday ranged to more than 5 points. Utilities in Demand Utility shares were in demand most of the time on outlook for higher earnings. New highs for a year or more were made by such leaders as Consolidated Gas, Columbia Gas and Electric. Commonwealth & Southern was tremendously active and made anew top. Atchison. New York Central, Union Pacific and Southern Pacific were among the many carrier shares to go into new high ground. Their gains for the week ranged to more than 3 points. Chrysler was buoyant Friday and reached anew top since 1929. General Motors got up to its best price since 1930 and other motor shares were higher. Passage of the soldier bonus set off buying in the motor j shares. Steels Move Higher Westinghouse Electric made anew top since 1931 and other industrial shares were strong. Steels moved higher when United States Steel and Bethlehem reported sharp gains in earnings. Farm equipment shares were strong and aciive on buying reportedly coming from the West. Building issues followed the trend of building and made new highs. Silver shares did little but gold mining stocks were given a whirl early in the week when it appeared that inflationary legislation might be resorted to, to produce funds to pay the bonus. Electricity output made a small gain, while steel production slipped back. Automobile output was down again but there was some demand for steel from the motor companies, indicating they might resume operations on a large scale shortly. Car loadings again declined but the loss was small. PROVIDENT LIFE CoT ASSETS SHOW GAIN Mutual Firm Reports Increase of 814,172,000 for 1935. Times Special NEW YORK, Feb. 3.—Assets of the Provident Mutual Life Insurance Cos., Philadelphia, at the end of 1935 amounted to $298,517,000, an increase of $14,172,000 during the year, M. A. Linton, president, reported to policyholders at their annual meeting. The amount of insurance the company had outstanding at the close of 1935 was $934,937,000, marking the first gain in outstanding insurance recorded since 1931. New paid insurance amounted to $78.863,000, a gain of 4 per cent over ‘•he corresponding period of 1934. PREMIUM INCOME RISES Phoenix Mutual Life Insurance Cos. Earns $27,865,000 in 1935. Times Special HARTFORD Conn., Feo. 3. Total premium income of the PhoeMutual Life Insurance Cos. In 1935, Including single premiums paid for insurance and annuities, reached an all-time high of $27,865,000, and shows a gain of $1,200,000 over the preceding year, the company announced today. Assets of the company increased approximately $16,000,000, which is the largest gain of any year in the company’s history, and reached a total of more than $195,000,000. Total insurance in force showed a , substantial gain of than $6,250,000, while $833,000 wc.j added to surplus. _ Other Livestock CHICAGO, Feb. 3.—Hoss— $ lfi 000. including 5000 directs; unevenly 10 than Friday's average; top. 510.50, bulk desirable ih* $lO f9 a 2S®i\V 6 ° 0€1() 35; ot sows ~~ R s cc4 * >ts 12.000 calves 2000. fed steers and vearlines very *‘° w of higher asking prices es st L on , to 25 cent3i higher: ra<le * el *hty kinds showing most Sni ’ p , ros P ects fUong market on rank and file of crop; killers resisting sharp i"tn Ce / best , medium weight steers. *13.50; few loads Slo@ 11.25; kifitne quality plain; rank and file selling at *7 50® 10.50 o®™ ad V to strong; heifers in liberal supply, steady to weak; bulls strong; vealers steady. Sheep—Receipts. 12.000; fat lambs moderately active; bids and few sales fully steady to stronger st *10.25® *0.50; bulk held unevenly higher at upward to *10.65® 10.75 and above, sheep, firm: few native ewe*. *4®4.50; best held 54.75 upward.

SAFETY RECORD IS ESTABLISHED BY 6.M.CORP.E Local Plants Show Slight Increase in Accidents, However. Operations of the Chevrolet commercial body plant and the Allison Engineering Cos.. Indianapolis divisions of General Motors, showed slight increases in frequency and severity of accidents in 1935. although the rate at the local establishments still is under the General Motors average, officials announced today. An all-time safety mark, however, was established last year in the corporation's 72 plants in the United States and Canada. Working more than 331.000.000 hours last year,’ these establishments reduced the number of accidents by 24 per cent; cut the frequency of lost time accidents per million hours worked by 38 per cent and the severity (the number of days lost per thousand hours worked' by 35 per cent, compared to 1934. This improvement was made despite the fact that hours worked last y pa r were 21 per cent higher than 1934. Working Conditions Improved Describing safe working conditions as a “primary responsibility of management,’’ C. E. Wilson. General Motors vice president, said that ; the improvement last year resulted from the continuous co-operation ot men and management in plant op- | orations. “The most important thing of all has been the reduction in human j suffering occasioned by industrial ; accidents.” Mr. Wilson said. “By improving working conditions, carefully training employes and by the untiring efforts of plant supervisory forces, we have been able to contribute importantly to the health, happiness and economic security of of men and women in our plants. “To show how effective our safety program was in 1935. workmen in our plants lost 67,754 fewer days of work due to accidents than they did in 1934. We expect to better our accident experience even more in the future by continued vigilance." INCOME SHARES, INC. HAS GAIN IN ASSETS Increase of $1,828,282.72 Rcpo-ted for Year Ended Jan. 15, 1936. Times Special NEW YORK. Feb. 3.—Quarterly Income Shares, Inc., a group investment supervised by the Administrative and Research Corp., reports net assets at closing quotations of $38,187,006.24 for the quarter ended Jan. 15, 1936, in the report mailed to stockholders today. This compares with $36,353,723.52 as of Oct. 15, 1935. or an increase of $1,828,282.72 without making allowance for the tax reserve of $2,211.530.49 against unrealized appreciation. The value of investments, based on closing market quotations, was $40,326,337.50, against a cost of $29,311,207.80. The per share liquidating value of the 25,517,933 shares outstanding on Jan. 15 was $1.4965 a share, as compared to $1.4248 on Oct. 15 and $1.1791 a share on Jan. 15, 1935. LIQUOR, WINE SHOW SET Mayor La Guardia to Be Honorary Guest at Dinner. Times Special NEW YORK. Feb. 3,-Approxi-mately 1500 representatives from every branch in the United States are expected to attend the industrial dinner during the liquor and wine show week. Feb. 12, Lincoln’s birthday. A. L. Waldron, chairman of the show committee, announced today. Honorary guests expected in attendance are Mayor Fiorello La Guardia, Commissioner Mulrooney, New York, and Commissioner Frederick D. Burnett. The dinner committee is to include a number of leading officials of distilleries to be nominated by Dr. J. M. Doran, administrator of the Distillers Institute. SALES MEETING ENDS 165 Agents Attend Convention of Indianapolis Life Cos. Approximately 165 agents of the Indianapolis Life Insurance Cos., from Ohio, Michigan, Minnesota-, Texas, lowa and North Carolina were on their way home today after attending the annual convention here last week. The convention program, consisting of agents and sales meetings and an address of welcome by A. Leßoy Portteus. vice president, was presided over by A. H. Kahler, superintendent of agents. Edward B. Raub. president, reviewed the company's business progress made during 1935. REPORTS NEW SERVICE Nickel Plate to Make Collections, Deliveries After April 1. The Nickel Plate Railroad is to inaugurate free universal collection and delivery service, with allowance of 5 cents a 100 pounds to be given shippers or receivers performing their own service, T. S. Faulconer, Indianapolis division freight agent, has announced. The new service is to be placed in effect April 1 at every point along the road, and to or from any point in the United States in accord with traffic, Mr. Faulconor said. Money and Exchange INDIANAPOLIS STATEMENT Clearings *3.007.000 Debits 6.049,000 TREASURY STATEMENT 'Bv United Pres*' WASHINGTON. Feb. 3—Government expenses and receipts lor the current fiscal year to Jan. 31 a* compared with a year ago: This Year. La*t Year. Expenses *4 254.393.517.64 *4,013.57,909 35 Receipt* . 2 129,974.388.08 2.047.883.993 64 Deficit ..2.124,419.129 56 1.965.673 915 71 Cash bal... 2.003.979.340.93 2.329.183.937 07