Indianapolis Times, Volume 47, Number 285, Indianapolis, Marion County, 6 February 1936 — Page 17

Trends SEC Starts Probe of Investment Trusts. BY JOHN T. FLYNN

NEW YORK. Feb. 6—One of the greatest services the government can render to business is in the field of study and research. There are subjects which no other power can penetrate, to say nothing of the fact that no other agency can afford the great expense involved in certain research activities.

Such a serv# ice the government now renders to busiin the investigation of investment trusts just begun by the Securities and Exchange Commission. The investment trust swept over the land in the late 20s and early 30s like a plague. It was made to order for the America n promoter and investor.

\ _ mi:''

Flynn

In theory the lnvsetment trust is an organization which receives the savings of numerous investors, invests those savings in securities with expert discrimination, and manages the portfolio of investments with the same expertness. a a a THE average man can not possibly select his securities intelligently. He has not the experience, the time, the special information or access to the essential data. Therefore the investment trust become his agent. Also the trust affords him diverstiy of investment, since his savings will be invested in a variety of securities, thus distributing the ri.sk of security investment. On this pretense investment trust shares were sold to the people. But the investment trusts fell into the hands of promoters and adventurers who merely wanted to get control of these rich depositories of savings. Hence it is fair to say the American investorlost in the span of four years through these institutions enough to pay the soldiers’ bonus. nun NOW the SEC sets out to study the trusts. It starts, wisely and soundly, with a questionnaire to all the trusts. It is an impressive document—96 closely multigraphed pages. Os course some Wall Street critics will complain about that. But this is the best way to begin such a study. The alternative is to summon the trust managers to Washington, put them on the grill, raise a great smoke of investigation, dig up scandals and make headlines. To this Wall Street always objects bitterly. Now ihe SEC proceeds scientifically. The questionnaire is one of the most searching and intelligent I have ever seen. It asks in perfectly civil and objective spirit, for all the necessary data essential to forming an opinion of trust organization and management. tt o IT seeks to bring to light all that may be known of trust sponsors, their objects, their relations with the trusts, their motive in organizing, their use of the funds, the history of the trusts, their management contracts, including their use of warrants and rights to swell fees and profits, the portfolios and in particular the manner of selecting assets. The answer to these questions when made and digested and arranged for use ought to be of incalculable value to the American investor. Those trusts which believe themselves soundly formed ought to take the lead in supparting the SEC in its efforts to clean up this badly mismanaged business. (Copyright, 1936, by NEA Service, Inc.) NEW OFFICE TO OPEN Timex special CHICAGO. Feb. 6.—Blyth & Cos. Inc., national investment banking organization, is to open a Cincinnati office in the Union Central Life Bldg, under the management of F L. Dupree. it was announced today On Commission Row (Qu Nations below subject to change are average wholesale prices being offeied to buyers by local commission dealers, t Florida pint. 23c: 36-pint crate. 22c Cranberries. C. C. Howes. Eatmores. 25-lb. box. $3 25. Pears Washington D’Anjo (100s box'. S3 25; Washington Bose iIOO-120si. $3.25- California Avocado 1203-2*;.', 53.50. Grapes. Extra Fancy En-.pors < 34-lb sawdust chest). 53.75. Limes. Mexican (carton 12s*. 26r: Persian seedless idor.i, 45c. Dates, Fresh Arizona, $1.50. Bananas, seven hands, pound. se. Apples. Delicious < fancy baskets), $1.75: Jonathans, $1.50; Grimes Golden. $1.25; Rome Beautv. $1.65 Lemons. Sunkist t36osi, $6 Grapefruit. Texas seedless <s4s-965), $3.50 Arizona Sunkist 1 80s i. $3.75. Tangerines. Florida (120s, 1445. 168s i. $1.75, Vegetables—Articokes. California fdoz.l. $1,15 Beans, green, round stringiess thamper). $3.25. Beets, Texas i3 doz crate). $1 50; cut offs tbu.t. $1 Brussels Sprouts. California (quart), 20c. Cabbage. New York Dannish 1 50-lb. bag), 90c; New Texas (crate). $1.50. Red cabbage 1 50-lb. bag). $2. Carrots. California 1 7 doz. crate). $3.50; Texas <3% dorcrate). $1.75; ibushel), $1.50, Cauliflower, California (12s crate). $1.75 Celerv. Florida washed and trimed idoz.). 60c® $1.05; Florida (4s. 6s, Bs. 10s crate). $4. Cucumbers, hothouse idoz.), $1.75; southern (bushel), $6. Egg Plant. Florida idoz ), $1.50. Kale. Virginia (bushel). 90c. Lettuce, Iceberg Arizona (best 4s. ss), $3 25; home grown leaf (15-lb. baskets). $1.15. Endive. California (doz.). 90s. Peppers, mangoes (crate), $5 50; peck basket. $1.50; idoz.), 60c, Mint, hothouse idoz). 75c. Mushrooms i pound i. 30c. Mustard. Texas (bushel). $1.35. Onions —lndiana yellotf )50-Ib. bag). $1.35; Indiana yellow (10-!b. bag). 28c; Western Spanish (30-lb. bagi, $1.65. Oyster plant, home grown (doz.). 40c. Parsley, southern tlong bunches doz.), 50c. Parsnips, home grown washed tbushel). $1; (half bushel). 60c. Peas. Floricr. (hamper). $3. Potatoes. Michigan Round White (100-lb. bag), $1.75; Maine Green Mountains (100-lb. bag), $2.50; R. R. Early Ohios (100-lb. bag). $185; R R. Cobblers (100-lb. bag). $1.75; Idaho Russets (100-lb. bag). $2.35: Idaho bakers (70s box), $2.40: Col. McClures 1 100-lb. bag). $2; New Texas Triumphs (50-lb. bag), $2.15 Sweet potatoes. Indiana Jerseys (Is bushel). $1.50: mediums i bushel). $1; Tennessee Nancy Halls (hamper). $1.15; Southern Porto Ricans (bushel crate). $l5O. Radishes, home grown buttons (doz.). 40® 50c; white. 40c. Rhubarb, hothouse ibunch), 50c. Rutabagas. northern (50-lb. bag). 85c. Sage (doz.). 45c. Shallots. Louisiana (doz.), 45c. Spinach. New Texas (bushel). 15c. Turnips, home grown washed bushel), $1.50. Tomatoes, repacked (10-lb. box), $1 35; original Cuban (30-lb. lug). $3. FII’ITS AND VEGETABLES (By United Press) CHICAGO. Feb. 6 —Apples—Michigan. Mclntosh, bushels. 75c®*l 25. Carrots — Illinois, bushel. 40® 50c. Sweet potatoes— Tennessee, bushels. 85® 90c. Beans—Florida. bushels. slso® 3. Cabbage—Sacks per cwt., $1.35*11.50 Peas—California. bushl hamper*. $203.50 Spinach—Texas, bushel. 75c *i $1.25 Lettuce—Western crates, £ dozens. $2.40® 2.60. Cucumbers—Cuban, bushel s3® 3.50 Celery—Florida crates, *2 75® 3 50. Cauliflower—California crates, sl*i 1.35. Tomatoes—Mexican lugs. s2*i 235 Onion market (50-lb sacks). Western Valencias. $1,104/1.15; Illinois yellows. 75c 0*1; Michigan yellows. 75e®*l: Minnesota yelolws, $1; Colorado yellows, sl.io.

♦ ♦ Abreast of The Times on Finance ♦ ♦

STABILIZATION i IS UR6ED BY FRANK KNOX ! Chicago Publisher Scorns Inflation in Talk to Underwriters. By United Press CINCINNATI, Feb. 6.—Governmental inflation at its very best must result in some degree of depression and at its worst is the harbinger of riot and ruin, Frank Knox, Chicago publisher, today warned insurance underwriters. Mr. Knox, frequently mentioned as Republican presidential timber, spoke before the tri-state convention of the underwriters and attacked both inflation and the unbalanced budget as “unfair, unnecessary evile.” He urged that the dollar be stabilized at its present gold value. “Inflation, even at its best, can end only in some degree of depression,” he charged. “At its worst it is the road to riot no less than the road to ruin.” Budget Must Be Stabilized “So let us plan to stabilize the dollar at its present gold valuation. Our resources are vast. Our energies—when they are not repressed by government action—are great. We have that immense heap of unused gold in the Treasury. We have that swollen heap of silver, which, after al), must amount to something. “Any time we like we can begin to plan to put the dollar on a gold basis again, make it controvertible into gold on demand and hold it ! stable.” The budget must bo stabilized, I however, before the dollar can be I stabilized, the publisher said. i RETAIL FIRM LEASES MA-CO SALESROOM Dependable Motors, lnc„ Acquires Space at 715-23 E. 38th-st. Dependable Motors, Inc., North Side dealers for Dodge and Plymouth motor cars, has leased space for a number of years in a large salesroom at 715 to 723 E. 38th-st, W. A. Brennan, Inc., Indianapolis realtors, announced today. The salesroom, comprising about 14,000 square feet, is located in the Ma-Co Building, which is owned by Michael J. Duffecy, Indianaoplis. Officers of the company, which was recently appointed as distributors for the two automobile firms, are A. T. Porter, president, and Roy E. Brower, secretary and treasurer. Both men have been closely connected with the retail automobile business for several years. Remodeling of the sa’esroom is already under way and the company also intends to maintain a service department. NET ASSETS INCREASE Selected American Shares, Inc. Has Gain of $3,000,000 in 1935. Timm Special NEW YORK, Feb. 6.—Net assets of Selected American Shares, Inc. rose to nearly $8,000,000 Dec. 31, 1935, compared with assets of approximately $5,000,000 on Dec. 31, 1934, according to the year-end report to stockholders. The asset value a share advanced from $1.13 at the end of 1934 to $1.46 on Dec. 31, 1935, after substantial reserves for Federal taxes on unrealized profits. A dividend of 2.3 cents a share has been declared at this time, payable March 16, 1936, to stockholders of record Feb. 29, 1936. This is an increase of approximately 10 per cent over the dividend paid on Sept. 15, 1935. STEEL INCOME HIGHER Timex Special CHICAGO. Feb. 6.—Blythe & Cos.. Steel Cos. of America today reported the best earnings during 1935 since 1930. Net income amounted to $1,268,V76, equal to $5.07 a share on 7 per cent preferred stock. This compares with 30 cents a share in 1934. 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. J. D. Adams Mfg 16 IT S Belt RR & Stk Yds corn .. 51 Va 53)2 Belt RR <fc Stk Yds 6'r pfd . 53 Central Ind Pow 7% pfd 20 25 Home T & Tel Ft Wm 7% pfd 52 55 Hook Drue Inc com 18 19 Ind & Mich Elec 7% pfd . 102 104 Indpls Gas Cos com 35 39 Indpls Pow k Lt 6% pfd ..88 92 Indpls Pwr & Lt 6%% pfd.. 94 97 Indpls Water 5% pfd 104 Lincoln Nat Life Ins Cos ... 36 38 North Ind Pub Svc 5 1 2% pfd 70 74 North Ind Pub Svc 6% pfd. 77 80 Oakley Stores 7% pfd 76 80 Progress Laundry com 8 la Pub Svc of Ind 6% pfd 22 25 Pub Service of Ind 7% pfd 46 49 So Ind Gas <fc Elec 6% pfd 97 99 Terre Haute Elec 6<7* pfd... 83 86 Union Title com . 20 23 BONDS Atlanta Distr Term 6% ’4l 62% 70 Brooklyn Postal Ste 5'!% '4B 37% 42 Home Tel&Tel FtW 6% ‘43 .. .103 106 Indpls Railways Inc 5% ’67.. 56 59 J n 2 p js Water 4%% >4O 104 106 Indpls Water 5% ’SO k '6O .105 107 Indpls Water 5>,’53%'54 104 106 Indpl's Gas ’52 5V47C 95% 97 Interstate TANARUS& T 5%% ’53 . 94% 97 Kokomo Water Works 'SB 104 105 Lafayette Telephone 5% '57 102 Morris 5 <fe 10 Stores 5% 'SO 99 10? I Muncie Water Works srr5 r r ’65 102'* Noblesville HL&P 6% '47 ... 97 100 Ohio Tel Service 6% '47 95 1 Richmond Water Works 5 %'57 104’a 106 St. Louis Post Office 5%% '3B 18 25 1 Seymour Wtr Ist mtg 5% '59 101 104 Terre Haute Water Wks 5% '56 101% 103% Terre Haute Wat Wks 6% '49 103 105 Traction Terminal 5% '57 71 73 Unlisted Stocks (By Blyth A: Cos.) NEW YORK BANK STOCKS 01 , _ Bid- Ask. Bankers' Trust 65 67 Central Hanover B <fc T 114% 116% Chase 411, 433. Chemical National 54 % 56 Guaranty 293 296% Irving 18 19!., Manufacturers 46% 49% National Cltv 37 38% Coin 111 (Chicago 129 130’ First National Boston 47% 49 National Shawmut 27 s . 29 I FIRE INSURANCE Aetna Fire 65 67% American Ins of Newark 16% 18% Baltimore American 9% ll' City of New York 31V* 33% Federal Ins 109 114' Franklin Fire 34 36 Great American Ins 22 s * 34 Hanover Fire Ins 40 42 Hartford Fire Ins 87 1 a 89% Home Ins 39% 41'* Ins Cos of N A 824 *4% National Fire 86 National Liberty 11 124 North River Ins 294 314 Phoenix 1014 1044 C R Fire 5*4 60% Westchester Fire 404 424

New York Stocks

(By Thomson & McKinnon) JI;1 A M. Prev. High. Low. N. Y. Cloie. Oils— Atl Rfg 344 32 32V* 324 Barnsdail 174 17 17 4 174 Consol Oil 144 144 144 144 Cont of Del ... 37' 3 37% 374 374 Houston (newi . 11 11 11 11 Mid Cont Pet .. 214 214 214 214 Ohio Oil 174 164 17'* 174 Pet Corp 17 17 17 17 Phillips Pet ... 44 44 44 434 Plymouth Oil ... 144 144 144 15 Pure Oil .... 194 194 194 194 Seaboard Oil ... 364 364 364 364 Shell Un 174 174 174 174 Skelley Oil 274 27'■ * 27 4 264 Soc Vac 164 164 164 164 8O of Cal 46 4 4 5 46 454 8 O -if Ind ... . 39-4 394 334 394 S O of N J 60 594 60 60 Texas Corp •... 334 334 334 34 Tidewater Assn 184 184 184 184 Un Oil of Cal .. 264 264 264 264 Steels — Am Roll Mills •• 314 314 314 314 Beth Steel 534 534 534 524 Dyers AM 234 23 234 224 Ludium Steel .. 284 284 284 284 McKeesport Tin. 44 4 44 4 44 4 44 Natl Steel 71 71 71 714 Otis Steel . 164 164 164 164 Rep Ir k Steel 224 224 224 214 U 8 Pipe & Fdy 344 344 344 334 U S Steel . .. 514 514 514 51 U S Steel pfd 1194 1194 1194 1194 Young’wn S& T 434 474 *B4 47’* Motors— Chrysler 934 93 934 924 Gen Motors .... 584 584 584 584 Graham Mot ... 34 34 34 34 Hudson 154 15 s * 154 154 Hupp 24 24 24 24 Mack Truck 32 4 31 4 32 4 304 Nash 174 17% 174 174 Packard 84 84 84 84 Reo 64 5*2 64 54 Studebaker 104 10 104 10 Yellow Truck .. 154 15Va 154 15% Motor Access— Bendix 234 23 4 23 4 23 4 Bohn Alum 57 4 57 4 57 4 57 4 Borg Warner 714 71 '2 714 72 Briggs 534 53 53 53 4 Budd Mfg 11 11 11 104 Budd Wheel ... 124 124 124 124 Elec. Auto Lite.. 38 4 38 4 38 4 38 Greyhound B . 76 4 75 4 76 4 764 Houdaille 30 4 30 304 244 Murray Bodv ... 194 19 194 194 Stew Warner ... 204 204 204 204 Timken Roll 694 69 69 4 69 Timken Det Axle 164 16 16 16% Mining— Alaska Jun 16% 164 164 18 Am Metals 34' 2 34 4 34 4 344 Am Smelt 63 624 63 634 Anaconda 30 4 30 4 30 % 30% Cal & Hecla . . 74 7-4 74 74 Cerro Ds Pasco 534 524 534 524 Dome Mines 43 4 43 4 48 4 48 4 Gt Nor Ore ... 164 164 164 164 Ins Copper 7Vi 7Vi 74 7% Int Nickel 49 49 49 484 Kennecott Cop.. 34 4 34 34 4 344 Mclntyre Mine.. 46 45% 46 454 Phelps Dodge .. 344 34 344 334 St Joe Lead 29 29 29 28 Vi Vanadium 234 234 234 23 Amusements— Fox Theat 26% 26Vi 264 26 4 Loews Inc 524 52 5212 524 Radio Corp 124 124 124 124 Paramount 114 114 114 114 RKO 74 74 74 74 Warner Bros 124 124 12% 124 Tobaccos — Am Snuff 72 72 72 72% Am Tob (A) 102 102 102 1014 Gen Cigars 57 564 564 57 Lorillard 254 25% 254 254 Phillip Morris.. 71 71 71 704 Rails— Atchison 75 4 74 4 75 4 75 4 1 Atl Coast Lines 334 324 334 324 ' B k O 19% 19% 194 194 I Can Pacific 134 13% 13% 134 iCh & Ohio 584 684 584 584 1 C M & St P 24 24 24 24 I C M & St P pfd 54 54 54 5 | Chi N W 44 44 44 44 Chi N W pfd ... 114 114 114 114 ! Dela k Hud ... 45% 444 454 444 I Del Lac & W 18% 18 184 184 Erie pfd 264 26 % 264 264 Gt Northern pfd 36 354 36 36 111 Central 24 234 24 234 K C Sou 15-4 154 154 15% Lehigh Valley... 104 10% 10% 10Vi Lou & Nash ... 73 73 73 73 M K & T 84 3 8 84 MK k T pfd.. 214 21 Vi 21 Vi 21% Mo Pac pfd ... 7Vs 74 7% 7 N Y Cent 35 344 35 34% N Y New Haven 54 5' 2 54 54 Nor Pacific 28 274 28 274 Penn R R 35% 354 35% 35% Sou Pac 30% 30 4 30 % 304 Sou UR 154 154 15% 15% West Maryland . 11% 11 11 Vi 10% Equipment!— Am Car & F 'y. 36 4 36 36 4 354 Am Loco . 29’ 3 294 294 294 Am Steel Fdy.. 29% 280a 294 29 Bald Loco 5% 5% 5% 5% Gen Elec 40% 4040% 40 Pullman Inc ... 45 45 45 45% West Air Br 39% 39 39% 384 Westingh E1ec.1204 1204 1204 120 Utilities— Am & For Pwr 84 8% 84 84 Am Power & Lit 10% 10 10% 9% AT&T 168% 166 168% 1657s Am Wat Wks ... 22% 22% 22 4 224 Col Gas & Elec 16% 16% 16% 16% Comm & Sou ... 4% 4% 44 44 Consol Gas ... 35% 35 35 344 Int Hydro Elec . 5 5 5 5 Int TANARUS& T -17 167a 16% 16% Nat Pwr & Lit . 12% 12% 12% 12 North Amer ... 29 28% 24-4 25 Pub Serv N J .. 47 47 47 47 Std Gas 34 84 8% 84 Stone & Web.. 17% 17 17 17% United Corp .... 8 8 8 8 Un Gas Imp .... 184 184 184 18% Ut Pwr & Lt A 5 5 5 4% West Union 81 Vi 81% 81 Vi 804 Rubbers— Firestone 314 314 314 314 Goodrich 19% 19% 19% 18% Goodyear 26% 26 % 26% 254 U S Rubber pfd 63 624 63 62 % Miscellaneous— Allis Chalmers . 43 43 43 42% Am Mach & Fdy 254 25% 25 4 26 Anchor Cap ... 234 234 234 23% Brklyn Man Tr - ... 43 >2 434 423* Burroughs Add . 294 29 29 294 Conti Can 78' 2 78 4 784 80' Caterpillar Tract 644 644 644 644 Curtis Pub 21 21 21 . 21 Deere & Cos 69 69 69 69'A Eastman Kodak 157 157 157 1574 Foster Wheler .. 34% 34 4 34 4 34 4 Gillette 174 174 174 174 Int Bus Mach . 183' , 1834 183% 1824 Natl Cash Reg.. 27% 26% 27% 27 ‘ Rem Rand 22% 22% 22 % 22 Foods— Am Sugar 554 554 554 56 Armour 64 6-4 64 64 Beatrice Creamy 19 19 19 19% Borden Prod .. 29% 284 29 % 28% Can Dry G Ale.. 154 154 154 15 Corn Prod .. 704 704 704 704 Crm of Wheat 37% 37% 37% 37% Cuban Am Sugar 94 94 94 9% Gen Baking 124 124 124 124 Gen Foods 334 334 334 334 Gold Dust 194 194 19 s * 194 G W Sugar 324 324 324 324 Natl Biscuit 34 4 34 % 34% 34Vi Natl D Prod ... 224 .22 4 22 4 22% Purity Bak 14% 14%, 144 14% S Porto Rico Sug 32% 32% 32% 324 Std Brands 16 15% 16 18% Un Biscuit 26 4 25 % 26 4 26 United Fruit ... 78% 78% 784 784 Ward Bak B' .. 3% 3', 3% 3% Retail Stores— Allied Stores . 7% 74 74 74 Assd Dry Goods 14% 14% 14% 144 First Natl Stores 45% 45% 454 45% Gm Ull Tea 5% 54 54 54 Kresge S S 24 4 24 4 24 4 24% Kroger Groc .. . 26% 26% 26% 264 Macv R H 48 48 48 474 McCrorv St 14 134 14 134 McLellan St ... 134 134 134 14 Mont Ward 394 38% 394 38', Natl Tea 11% 11% 11% 11% Penney j C ... 76% 76% 76% 76 Safeway St .. 33% 33% 33% 33% Sears Roebuck . 64% 64% 64% 644 Woolworth .... 55% 55% 55% 554 Aviation— Aviation Corp ... 6 6 6 6 Boeing Aircft 23 4 23 4 23 1 a 4% Busigraphs SHOE PRODUCTION IN THE UNITED STATES (U.S. DEPT. OF COMMERCE) 400 T - - - ■ <e . UJ m mm TT O j: T TT u. 300 ij [j|| ""If ■ ° I | 2OO -j- - - - -%-Hj- * N z 1 _ _ _ |! | I ! i . 1.1 1.1 II II II II II THE FARMER CORP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS Hail to the shoe industry! Shoe manufacturing was. one of the few industries which chalked up an alltime record production during the last weec. The record amount was approximately 370,000,000 pairs of shoes. This was 10.000,000 pairs more than the previous record in 1929; and represents, on the average, about three pairs of new shoes for every inhabitant of the country. The relatively low retail prices of shoes naturally was a great stimulant to sales.

THURSDAY, FEBRUARY 6, 1936

Curtiss Wright 4 s * 4% 44 44 Douglas Air 72% 714 72 % 72'a Nor Am Av .... 8 8 8 7% operrv Corp ... 21% Jl4 214 214 United Alrft new 23 27 4 28 27 4 Chemicals— Allied Chem .. 165 165 165 163 Com Solvents ... 20 4 20 % 20 4 20% Du Pont 1454 145 1454 146% Freeport Tex , 34% 34% 34% 35 Liquid Carb 39 39 39 39 Math Alkali .... 314 314 314 314 Natl Dis inew) 30 294 30 29% Tex Gulf Sulph 884 38 % 38% 38% Union Carbide . 77% 764 78 % 76% U S Ind Alco . 41 41 41 404 Drugs— Coty Inc 6% 6% 4% 6% Lambert 264 26 26% 254 Lehn & Fins ... 144 14 14% 13% Sterling Prod . 65% 65% 65% 65% Un Drug (new).. 15% 15% 15% 154 Vick Chem 46 46 46 46 Zonite Prod 8% BVi 8% 8% Financial— Adams Exp .... 12 s * 124 124 124 Allegheny Corp., 44 4% 4% 4% Am Int Corp ... 12% 12% 12% 124 Transamerica .. 13% 13% 13% 13% Tr Conti Corp.. 11V 2 11V 2 lIV2 114 Building— Am Radiator ... 244 24 24% 24% Gen Asphalt .... 34 334 34 33% Holland Furnace 39% 39% 39% 39% Int Cement ... 42Vi 42% 42% 42% Johns Manville 114% 114 114% 115 Libby Owens Gls 544 54% 54% 54% Otis Elev 264 26% 264 26V* Household— Col Pal Peet ... 18% 18% 18% 19% Mohawk Carpet.. 24 24 24 24% Proc & Gamble.. 46% 46% 46% 46% Servel Inc 19 18% 19 194 Simmons Bed 22% 22% 22% 23V* Textiles— Amer Woolen .. 104 104 104 104 Belding Hem ... 14% 14 14% 13% C'elanese Corp .. 29% 29% 29% 29 If’us Rayon ... 29% 29% 29% 29 Julius,... 32% 324 32% 32% Real Silk 14% 14% 14% 14% Chicago Stocks (By Abbott, Proctor & Paine) 11:00 Prev. A. M. close. Allied Prod 23 224 Berghoff 8 8 Butler 9 9% Chicago Corp 54 5% Cities Serv 6% 6% Com Edison 105 105 Conti Steel 414 40% Cord 64 6% Crane 27 % 27 V* Elec House 16% 16% Gen House 4% 4% Grt Lakes 30% 30% Iron Fireman 28% 28% Libby 9% 91% Lynch 51 % 51% Noblitt, Sparks 35 34% Pub Servos LI 58 58% Quaker Oats 132 132 Swift 23% 1,3% Swift Int. 35 35 % Zenith Radio 15 Vi 14% New York Curb (By Abbott, Proctor & Paine) 11:30 A. M. Prev. N. Y. close. Alumn Cos of Am 100% 100'/* Am Cyanide “B” 34% 35% Am Superpower 34 3% Atlas Corp 14 V* 14 V* Can Indus Ale “A” 114 11% Carrier Corp 11% 11V 2 El Bond & Share 184 JB4 Fisk Rubber . 8% 8% Ford of Can “A” 25Vi 254 Ford of Europe 8% 8% Imperial Oil Ltd 24% 24% Lake Shore Min 57% 58 V 2 Nia Hud Pwr 10% 10% Pan Am Airways 52 52 Vi Penn Road 5'% 5% N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds Rails Util Bonds Today 93.1 X ai.Bx iuo.o ao.ti Yesterday' 92.8 91.7 105.2 96.6 Week ago 92.8 91.1 105.1 96.4 Month ago 91.9 86,0 103.8 93.9 Year ago 86.5 82.0 92.4 96.9 1935-36 high 93.1 91.7 105.2 96.6 1935-36 low 91.6 94.7 105.1 96.3 •New high. (Copyright, 1936, by Standard Statistics.) U. S. GOVERNMENT BONDS (Bv Abbott. Proctor & Paine) Treasurys Prev. ~, Close. Close. 4Vis 1943-45 115.18 115.14 4s 1944-54 111.12 111.7 34s 1946-56 109.14 109.10 3%s 1940-43 107.27 107.22 3%s 1943-47 106.26 106.23 3%s 1941-43 108.12 108.6 34s 1943-45 106.8 106.5 34s 1941 108.15 108.7 34s 1944-46 105.30 105.22 34s 1945-46 104.4 103.30 3%S 1049-52 104.3 103.31 3s 1951-55 103.1 102.27 3s 1946-48 103.13 103.8 2%s 1955-60 100.15 100.1 2%s 1945-47 101.17 101.11 Home Owners Loan Corp. 2%s 1949 99.31 99.22 3s 1952 101.6 100.29 4s 1951 102.27 Federal Farm Mortgage Corp. 3s 1949 101.11 101.06 3s 1952 102 102 2%S 1947-49 100.19 DOMESTIC Prev. Close, close. Alleg Corp 5s '44 94V2 94'/a Alleg Corp 5s '49 90% 91 Alleg Corp 5s 'SO 76 75 Am Frgn Pow 5s 2030 79 78 Am Tei & Tel s'/ 2 s '43 1134 1134 Am Tel & Tel 5s '65 1134 1134 Arm & Cos (Del) 54s '43 97 1 /* 97Vi Atl Coast Line 4s ’O2 97 97>/2 Atl Coast Line 4'/2S '64 ... 84% 83*/* Atch Top & S F'S 4%s ’4B ... 111% 110% Am V/at Wks 5s ’44 111% 11? Am Roiling Mills 5s ’3B 126 4 12 74 Balt & Ohio 6s ’95 94% 94% Balt & Ohio 4%s ’6O 74 72% Buff Roch & Pitt 44s ’57 77 Vi 77% Chi Milw & St P 5s '75 24 24 Chi Milw & St P 5s 2000 9% 94 Cleve Un Term 5s ’73 103 4 104 Cleve Un Term 44s 'll 97*% 974 Col Gas 5s May ’52 102 4 102 4 Col Gas 5s ’6l 1014 101 Can Pac Perp 4s 91% 91/a Cent Pac 5s ’6O 96 4 96% Big Four 4 Vis 'll 89% 89% Colorado & So 4Vis ’BO <2 72 Chi & West Ind 4s '52 102% 102% Chi & West Ind 54s ’62 107 107 Chi & Nor West 4%s ’49 ...16% 17 Con Gas 5s ’57 104% 106 Chesa Corp 5s 47 122 2 132 , 2 Del & Huds 4s ’42 83% 84 N Y Dock 3s ’3B 65 60 * Erie 5s ’76 784 78.* Erie 5s ’6% • • • e inoi 4 in?** Grt Northe-n 7s 36 102 2 102.. Grt Northern 44s 76 Grt Northern 44s 77 . 100 4 11 2 Hud & Manhat Ref as 57 ... 86% 86 111 Cent 4%s '66 n /3 (I.* 11l Cent Jt 4'as ’63 77% 76* 111 Cent 5s ’63 • „„•••• 82 81 Interhtl Tel & Tel 44s 39 ... 97 96^* Intel ntl Tel & Tel 5s 55 .... 91% 91% Interntl Tel & Tel 44s 52... 86-* 87 P Lorillard 7s ’44 McXess & Rob 54s %0 103% 1034 Natl Dairy 5%s ’4B 104% 103% Natl Steel 5s '56 103% 105% Nickel Plate 44s ’7B 82 83 Nickel Plate 54s '74 92j 2 92‘ 2 Nickel Plate 6s '35 1044 1044 N Y Cent 5s 2013 92 4 92% N Y Cent 44s 2013 (old) 86 4 86% Nor Am Cos 5s ’6l 104% 104% Nor Pac 3s 2047 78% 78% Nor Fac 44s 2047 99% 99% Nor Pac 6s 2047 110 109% Nor States Pow 5s '4l 105% 105% New Orleans Term 4s ’53 .... 87% 88% Otis Steel 6s ’4l 101% 101% Penn Rv 4%s 106% 106% Penn Ry 4%s ’Bl 106% 107% Pena Rv 44s ’7t 102% 102% Portland Gen El 44s ’6O 78% 78% Para Publix 54s 'SO 96% 96% Penn P & L 44s ’Bl 106% 106'* Posttfl Tel & Cab 5s ’53 58% 58% Rem Rand WW 54s ’47... 104 105% Sinclair Oil 64s ’3B 102% 102% Shell Union Oil 5s ’47 102% 102% Sou Pac 44s ’6B 87 87% Sou Pac 44s ’Bl 87V* 87 Sou Pac 44s ’69 87% 87% Sou Pac 4s ’49 884 87 Sou Rail 4s ’56 59 59 Sou Rail 6s ’56 76 764 Sou Rail 64s '56 .. 80 80% Sharon Stl Hoop 54s ’4B 1034 103 Texas Pac 5s ’BO 99% 994 Texas Pac as '79 99% 994 Texas Pac 5s 'll 100% 99% Union Pac 4s ’47 112% 112 United Drug 5s '53 101 100V* U S Rubber 5s ’47 ...105 105 NY NH & Hart 6s *8 40% 40 NY NH & Hart 4'..s ’67 39% 39 Warner Bros 6s ’39 94 93% West Mary 4s ’52 98% 93% Youngst'n S & T 5s ’7O 105 105% Youngtst’n S & 1 5s '7B 105 105 FOREIGN Argentine A 6s '57 98% 98 V* Arsetnine B 6s ’SB 98 % 38 Brazil 8s '4l 31% 33V* Denmark 54s '55 100% 100 -•* German 54s '65 28 s * 28% German Is '49 37% 384 Italy 7s 'sl 62% 63 Japan 64s '54 98V* 954 Poland 7s ’47 109 106 Rome 6%s '52 564 56 TRADE PACT DATE SET Timex Special WASHINGTON, Peb. 6.—A trade agreement between the United States and Honduras proclaimed by President Roosevelt Saturday is to go into effect March 2, the State Department announced today.

‘WHO'S WHO'IN INDUSTRY, TRADE PUT ONMARKET Compilation Believed First of Kind Lists 6516 Executives. By United Presx NEW YORK. Feb. 6.—A “Who’s Who of Commerce and Industry,” described as the first compilation of its kind, was released today by its publishers, the Institute for Research in Biography, Inc. The volume lists 6516 biographical sketches of industrialists, merchants, manufacturers, railroad and insurance company officials, bankers and business corporation executives. It also contains a directory listing 4445 corporations with the names and positions of their principal officers. * General Motors Corp., with 18 executives included in the biographical section, tops the list of industrial corporations, while J. P. Morgan & Cos. is represented by 14 partners. Biographies of seven du Ponts makes that family the best represented. John D. Rockefeller Sr., 96, i? the oldest executive included, while his grandson, John D. 111. 29, is the youngest. Owen D. Young, chairman of General Electric Cos., received the longest biography, with 106 lines. The volume listed 10 women executives, 84-year-old Josephine W. Wuppermann, president of Angos-tura-Wuppermann Corp.; Rr ;e Knox, president of Charles B. Gelatine Cos.; Mae O. Gillen, president of Waukesha Lime and Stone Cos.; Sarah M. Sheridan, vice president of Detroit Edison Cos., and Helena Rubenstein, president Helena Rubenstein, Inc., were included. BUSINESS ACTIVITY RISES 10 PER CENT Recovery Peak Reached in December, Survey Shows. By United Presx WASHINGTON. Feb. 6.-Business activity in January ran 10 per cent ahead of the corresponding period of last year, Ernest G. Draber, assistant secretary of Commerce, said today. At the same time, the Department of Commerce in its monthly survey of business said activity in December reached anew peak for the recovery period, closing “a year of gradual and substantial improvement.” “Qualitative changes in conditions during the year,” the survey said, “were equally as important as the quantitative gains. “Nevertheless, the statistics reveal a continuing lack of balance in our economy, which was remedied only partially by the broadening of the recovery movement during the past year.” IRON DEALERS MEET Indiana Representatives to Attend Cincinnati Dinner Tonight. Leading scrap iron dealers from the Indiana district, including southern Ohio, Kentucky and West Virginia, are to attend a special dinner meeting of the Cincinnati chapter of the Institute of Scrap Iron and Steel at the Netherlands-Plaza Hotel in Cincinnati tonight in honor of Darwin S. Luntz of Canton, 0., new national president. Indianapolis members of the institute are A. Borinstein, Epstein Bros., Samuel Falender & Cos. and Sagolowsky Bros. Other Livestock (By United Press) CHICAGO, Fbe. 6.—Hogs—Receipts, 14,000. including 4000 directs; active, around 25 cents lower than Wednesday's average; sows 10 to 15 cents lower: top, $10.60: bulk, 170-250 lbs, $10.25® 10.55; 260-350 lbs., [email protected]; most 140-160 libs. slo@ 10.50: lew sows, $909,40. Cattle —Receipts, 8.000; calves. 1000; not enough done on steers and heifers. These classes predominating to make a market. Bididng 25-50 cents lower than early Wednesday; late trade Wednesday dull and 25 cents lower on steers. Killers endeavoring to erase storm advance nut on earlier in week; few early sales sß® 10.50. Very little here of value to sell above sll. Cows weak. Bulls and vealers steady. Sheep— Receipts, 10.000: fat lambs opening around 25 cents lower; bids and sales around 510.35® 10.50, Best held $10.60 and above. Sheep weak. Load choice yearlings, $9.75. Scattered aged sheep. $4®4.75, Feeding lambs scarce. Quotable steady. (By Times Special) LOUISVILLE. Feb. 6.—Cattle—Receipts. 275. supply fairly light demand dependable on early rounds; beef cows and bulls fully steady; slaughter steers and heifers slow and about steady; bulk common to medium steers and heifers, $5.75®7.25: few common kinds down to $5.25 or less; desirable steers with weight quotable to around $8.50; bulk beef cows, $5®5.75: practical top. $6; bulk low cutters and cutters. $3.50®4.75: sausage bulls mostly. $5®6.25: bulk light beef type stockers and stock calves. S6®B; plainer grade light southern dairybreds. s4®s. Calves—Receipts. 275. including 100 stock calves: market not established: bulk better grades Wednesday. $10,500.11.50; strictly choice, sl2; medium and lower grades $9.50 (town. Hogs—Receipts. 750. including 250 direct; market 15c lower; top and bulk, 160-225 lbs., $10.70; 230-250 lbs.. $10.40; 255-300 lbs.. $9.85: 305 lbs. up. $9.40; 120-155 lbs . $9.60; sows. $8.65. Sheep—Receipts. 50. generally steady; bulk desirable native lambs. $9®9.50; choice auotable higher plainer grades, $6.50®8.50; fat ewes, $4 down. Produce Markets % The prices ouoted are paid foi 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. 14 lbs. and up. 15c; No. 1 strictly fresh eggs, loss off. 21c. Each full base must weight 55 lbs. gross, a deduction of 10 certs o. pound under 55 lbs. will be made. No. 1 butter. 390 40c; No, 2. 36(837c. Butterfat, 36@37c. Quoted by the Wadley Cos. (By United Press) CHICAGO. Feb. 6.—Eggs—Market steady; receipts, 2742 cases; fresh graded firsts, 26c; firsts. 26c; extra firsts. 24c; current receipts, 25%e: dirties. 23c; checks. 204 c. Butter—Market steady; receipts. 5017 tubs; extra firsts (90-914 score', 34%®344c extras <92 score), 35c; firsts (88-894 score), 33®33%c: seconds (86-874 score(, 324 c; specials, 3540 36c; standards. 34%c Poultry—Market steady to firm; receipts 14 trucks, 1 car due: ducks. 1840224cgeese. 17c; 6pring chickens. 24025 c; hens', 2340254 c: turkeys, 20®23c; capons, 25® 26c; Leghorn hens, 14®20c: old roosters 17c: broilers. 234025 c. Cheese—Twins] 16*r16%c; Daisies, 164@16%c; Longhorns. 164®T%c. Dressed Poultrv—Turkeys, young toms. 27c; young hens. 27c; capons. 270 30c. Potatoet— Supply light: demand fairly good; market firm with slightly stronger undertone. Idaho Russet Burbanks. *1.8501.95; N S No. 2, $1 50; Wisconsin Round Whites. *1.20: North Dakota Cobblers. $1.15; Earlv Ohios. *1.25 Colorado McClures. $1.5001.65: Nebraska Bliss Triumps. $1.3501.40. Arrivals, 56; on track, 186; shipments, 555,

NEW FACES ON FEDERAL RESERVE BOARD

wf |grasjßr ctP r

McKee

Four new members of the reorganized Board of Governors of the Federal Reserve System assumed their duties this week after having their nominations approved by the Senate. They are Ralph W. Morrison. San Antonio, Tex.; John McKee, Pittsburgh; Joseph A. Broderick, New York, and Ronald Ransom, Atlanta.

DEFUNCT BANK SEEKSRECEIVER Depositors Fail to Claim Funds; House Idle for 52 Years. By United Press NEWARK, N. J„ Feb. 6.—The Newark Savings Institution, which succumbed to the depression of 1877, has been in the hands of receivers for 52 years, but 9553 depositors have failed to claim deposits totaling $26,640.92, it was revealed today. The announcement was made by Theodore R. Plume, third receiver of the defunct banking institution, who asked the court to appoint a successor. Mr. Plume said that he wished to retire. He also asked that the new receiver be instructed as to the disposal of the long-closed bank's assets which now total $42,641.95. The depression of 1877 forced the bank to limit withdrawals to 18 per cent. In 1884 the bank was placed in the hands of George Wilkinson as receiver. By 1892 he had converted enough of the institution’s assets into cash to pay off depositors. By- that time dividends aggregated 100 per cent on deposits made prior to 1877 and 101,1 per cent on subsequent deposits. On Sept. 29, 1894, Wilkinson was succeeded by Brig. Gen. Joseph W. Plume, father of the present receiver. He died in 1918. His son, an officer of the Merchants and Newark Trust Cos., took over the job. STRAUS SECURITIES TO EXPAND BUSINESS Larger Quarters and Extended Service Announced. A general expansion of business and office space of the Straus Securities Corp,, Circle Tower, has been announced by L. L. Kahn, Indianapolis resident manager. The company has leased larger quarters on the thirteenth floor of the building and are installing a teletype and direct local wire system which will give immediate contact with local and national trading markets. Other branches of the firm are located in Chicago, Milwaukee and Detroit. Appointment of A. Fred Matzke to be in charge of local Indiana securities, and Adolph G. Matzke as salesman, also was announced by Mr. Kahn. Both men have had years of experience in investment securities in Indiana and throughout the nation. INDIANA BANKERS TO MEET HERE MAY 21 Indianapolis Selected Because ot Central Location, The 1936 convention of the Indiana Bankers Association is to be held here May 21 and 22, B. D. Mitchell, president of the Union Bank and Trust Cos., Kokomo, and president of the association, announced today. This will n ark the fortieth annual meeting. The time and place were selected by the council of administration of the asociation, which is the governing body of the bankers group, after consideration had been given various other localities’ over the state, Mr. Mitchell said. Indianapolis was selected finally because of its central location and ready accessibility while the dates of late May were chosen in order to not conflict with other conventions. Chicago Grain Futures (By James E. Bennett & Cos.) 11:00 Prev. Wheal— High. 7,0 w. A. M. Close. May ’ 99% .99% .99% .99% July 89% .89 .89% .89'* Sept 88% .88% .88% .88% Corn— May 61 .60% .60% .60% July 61% 60% .61% .61 Sept 61% .61 .61% .61 Oats— May 28% .28% .28% .28% Sept 274 .274 .274 .27 Rve— May 59 .58% 59 .58% July 57 4 .57 .57 4 57 LOCAL CASH MARKET City grain elevators are paying 94 cents for No. 2 soft wheat. Other erades on their merits Cash corn new No. 4 vellow 50 cents and oats 21 cents Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,615,000 Deflits 6,053,000 TREASURY STATEMENT (By United Press/ WASHINGTON, Feb. 6. —Government expenses and receipts for the current fiscal year to Feb. 4. compared with a year ago: This Year. Last Year. Expenses . $4,349,421,422.02 $4,105,854,760.07 Receipts . 2,165,174,513.39 2.094.812,788.70 Deficit ... 2.184.246.908.63 2.011.041.971.37 Cash bal. 1,946.281,727.91 2,257,060,314.66

S' y. Travel Enjoyment / / Settle every Travel question in ad- / / /ffnk vance. Forestall any possibility of / / x f I interference with your tr insportation / /"V / f UjK or hotel arrangements. Know that nothing can arise to disturb the perI / lect - day-after-day enjoyment of your [<■ " f-a-- 1 travel thru countries whose people and tJL # fJpS) 1 customs will charm you. Know, too, | —■Just * bat the expense will be. to a 1 ~ - S I ' Mmi oollar—ln advance! —by arranging \ your Itinerary thru this Bureau, at \ no extr cost to you! The UNION TRUST COMPANY 1 ¥ Xw TRAVEL DEPARTMENT lift E. Market SL . RI. 5341

New Coffee Consumption Peak World coffee consumption, measured by distribution. rose to a record hiqh in the first seven months of the curernt season, irith January's total of 2,368,102 an all-time peak.

PAGE 17

Morrison

Broderick

1935 AUTO PRODUCTION IN EXCESS OF NORMAL National Income for Purchase of Cars Same as in 1934. Timex Special NEW YORK. Feb. 6.—Automobile production during 1935 was far in excess of normal, the Alexander Hamilton Institute announced today. In fact, this excess accounted for practically all of the increase over the 1934 volume. The normal amount of national income available for the purchase of automobiles was about the same in 1935 as in 1934. If production had been normal in 1935, the number of automobiles manufactured last year would have totaled 2,904,000 instead of 4,009.000. In other words, production in 1935 would have exceeded the 1934 volume by 151,000 cars instead of by 1.256,000 cars. Production in 1935 was thus 1,105,000 cars in excess of normal. There is little indication at the present time that the normal amount of the national income available for the purchase of automobiles in 1936 will vary greatly from the 1935 normal. Consequently, if automobile production is to show further expansion this year and exceed the 1935 output, there must either be a sharp reduction in automobile prices or 1935 must be a year of even greater over-ex-pansion than 1935. STEEL FIRM DONATES LAND FOR TERMINAL Porter County Accepts 10 Acres From Midwest Corp. By United Prcxx VALPARAISO, Ind., Feb. 6.—Acceptance of a donation of 10 acres of land from the Midwest Steel Corp. for construction of a public terminal at Burns Ditch, on Lake Michigan, has been voted by Porter County commissioners. The action was necessary to obtain the grant of Federal funds for building a $4,000,000 harbor by the United States War Department. A huge steel plant is to be constructed at Burns Ditch by the Midwest Cos., if the harbor is built. Hearing on the petition of northern Indiana groups for the Federal harbor grant will be held at Washington Feb. 10. CONVENTION DATE ~ SET American Savings and Loan Parley To be Held Feb. 21. Times Special CHICAGO. Feb. 6.—The thirteenth annual midwinter convention of the American Savings and Loan Institute is to be held Feb. 21, it was announced today. The pace of savings, budding and loan activity in 1936, as conditioned by advertising methods and new accounting plans, will be discussed at the meeting. Approximately 700 persons from nearly every state in the Union are expected to attend the conference, Charles F. Axtmann, Youngstown, 0., president, stated. The national meeting is the only one of its kind in the savings and loan field, except the annual convention of the United States Building and Loan League. STOCK INDEX SPURTS Increase/of 7 Per Cent Shown for Period Ended Jan. 31. Times Special NEW YORK. Feb. 6.—The common stock index of investment companies advanced approximately 7 per cent during the last week, according to a report made today by Distributors Group, Inc. The average for common stocks of leading management companies influenced by the leverage factor stood at 21.98 at the close of Jan. 31, compared with 20.52 at the close of the preceding week. The average of the mutual funds was 14.20 at the close of the week ended Jan. 31. NET INCOME HIGHER Timex Special TOLEDO, Feb. 6.—Consolidated net income of the Electric AutoLite Cos. amounted to $2,588,598 for 1935, compared with $913,681 in 1934, according to a preliminary report released today. This was equal to $2.20 each on 1,177,652 common shares, compared with 78 cents in the preceding year. KROGER SALES RISE Times Special CINCINNATI, Feb. 6.—Total sales of the Kroger Grocery and Baking Cos. declined $549,647, or 6 per cent during the first four weeks this year, it was announced today.

INVEST with . Ist Mortgage Security on Improved Real Estate BUY Building & Loan Shares

HOG QUOTATIONS DROP SHARPLY AT STOCKYARDS Prices Generally 20 to 40 Cents Lower; Light Kinds Steady. A sharp increase in shipments throughout the mid-Westem district, comprising 11 major livestock markets including Indianapolis, brought a sharp reaction in porker prices today at the local exchange. Prices were generally 20 to 40 cents lower than yesterday’s best average. Few light grades, however, proved to be an exception and prices remained unchanged. The sharp decrease carried the top price to SIO.BO after establishing anew high for the current year in the preceding session. Yesterdays top was sll, the Highest price paid for any classes of hogs since July 22, 1935. Receipts increased sharply at the local livestock exchange, numbering 5000, compared with only 3000 on hand yesterday. The same action was reported by surrounding livestock centers, reducing demand throughout this section. Holdovers numbered 163. Cattle Market Weak The general bulk of 150 to 22b pounds was salable at $10.75 to SIO.BO, while medium heavies, from 225 to 260 pounds, cashed in at $10.35 to $10.60. Extreme weighty butcher classes were reported selling at $9.50 to $9.80. Light grades, from 140 to 160 pounds, brought $10.25 to $10.50. while good packing sows held at $8.50 to $9.25. With strictly good and choice grades absent, bidding was sharply lower in the cattle market and trading developed slowly. The bulk of steers was valued to sell under st). Most heifers were steady, with a few better grades showing ■ weakness. Bulls and cows also were unchanged, the latter selling at $5 to $6.50. Receipts were 1200. Vealers were stationary with yesterday’s opening. Bulk of good and choice grades sold at $11.50 to sl2, Receipts numbered 500. Early interest was at a low ebb in the lamb market due largely to heavy receipts. The liberal supply was a depressing factor and sentiment was lower in practically all classes. No bulk prices were established. HOGS Jan. Bulk. Top Receipts. 31. $10.30010.40 $10.40 3000 F-ab. 1. 10.55010.65 10.65 1000 3 10.60010.70 10.70 5000 4. 10.75010.85 10.85 4000 5. 10.90011.00 11.00 3000 6. 10.70010.80 10.80 5000 Lizht Liqhto. (140-160 t Good and choice $10.25010 70 Medium . 9.75®10.30 (160-180) Good and choice . 10.70010 80 Medium . .. 10.20010.70 (180-200) Good and choice . 10.70® 10.80 Medium [email protected] (200-220) Good and choice.. 10.70010.80 (220-2501 Good and choice . 10.50® 10."0 Heavvweizhts. (250-290i Good and choice.. 10.05010.50 (290-3501 Good and choice.. 9.50® 10 05 Packing Sows. (275-350) Good 9.00® 9 25 (350-4251 Good 8.85® 9.15 (425-550) Good 8 75® 9.10 (275-350) Medium 850 0 9.00 Slaughter Pigs. (100-140) Good and choice . 9.75010.25 Medium 9.00 0 10.00 CATTLE —Receipts, 1200— (500-900) Choice $10.00011.75 Good 8.250 11.00 Medium 6.75® 8.50 Common 5.25® 6.75 (900-1100) Choice 11.00012 50 Good 8.50® 11.25 Medium 7.00® 8.75 Common 5.50® 7.00 (1100-1300) Choice 11.50012.75 Good 9.00011.50 Medium 7,25® 9.00 (1300-1500) Choice 11.75012.75 Good 9.00011.75 Heifers (500-750) Choice 8.75® 9.75 Good 7.25®' 8.75 Common and medium 4.50® 7.25 (750-9001 Good and choice ... 7.50 0 10.00 Common and medium 5.000) 7.50 Cows Choice 6.50® 7.25 Good 5.75® 6.50 Common and medium 5.00® 5.75 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, 500Good and choice $11.50® 12.00 Medium . 9.00011.50 Cull and common 5.00® 9.00 Calves (250-500) Good and choice .... 700 0 10.00 Common and medium ... 4.50® 7 00 Feeder and Stocker Cattle (500-800) Good and choice. 7.000 8.25 Common and medium 5.00® 7.00 (800-1050) Good and choice .. 7.00® 8.50 Common and medium 5.00® 7.00 Cows Good 4.50® 5.00 Common and medium 4.000 4.50 SHEEP AND LAMBS —Receipts, 7000— Lambs. 90-lbs. down, good end choice $10.50010.7* Good 10.000 10.50 Medium 9.23® 10.00 Common 7 00 ® 9.25 Ewes. <9O-175) Good and choice. .. 4.00® 500 Common and medium 3.00® 4.00 Yearling wethers good choice 9 00® 9.50 Medium 7.000 9.00 Other Livestock <By United Pres*) FORT WAYNE. Ind.. Feb. 6 Hogs. 35 lower: 160-180 lbs., $10.50; 180-200 lbs., $lO 40; 200-225 lbs., $10.30: 225-250 lbs., *10.15; 250-275 lbs., $10.05; 275-30 lbs., $9 90: 300-350 lbs.. 59.65: 140-160 lbs., $9 90; 120-140 lbs , *9 65: 100-120 lbs., *9.40. Roughs. $8.50; stags, *8.75; calvea, $12% lambs, $lO 25. LAFAYETTE. Ind.. Feb. 6-Hog market, steady to 40c lower; 170-210 lbs.. $10.55® 10 65; 210-235 lbs.. $10.35® 10.45: 225-260 lbs. SIO.IOO 10.25 ; 260-325 lbs., *9 6009.95; 100-170 lbs. *9.75® 10.25: roughs, *9.2* down; calves, sll down; lambs, $lO down.

Ransom

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