Indianapolis Times, Volume 47, Number 286, Indianapolis, Marion County, 7 February 1936 — Page 22

Trends Permanent Jobless Held Greatest Problem. BY JOHN T. FLYNN

•'jyrEW YORK, Feb. 7—There Is one point on which I would like to hear from all the candidates for President. Incidentally, millions of other Americans would like to know what they propose to do about it. This is the problem of permanent unemployment. Gov. Landon, Senator Borah, President Roosevelt, Gov. Talmadge,

Mr. Knox, Senator Vandenberg and whatever candidate A1 Smith is speaking for all have not yet confided in us what they think can be done about this greatest of all our problems. At the present time there are somewhere between 10,700,000 and 11,500,000 out of work. You simply can not brush that vast army aside.

Flynn

Back in 1929 there were about 2,500,000 unemployed. This means ♦ hat to get back to where we were in 1929, we have got to find jobs for from 3,200,000 to 9,000,000 people. Meantime the number of people who are candidates for work is increasing each year. We have from 2,500,000 to 4,000,000 more workers now than we had in 1929 when we began throwing people out of work. tt tt tt A LSO, we are improving our machine processes—which we should do. But this adds another factor to the problem of unemployment. The National Industrial Conference Board—a very conservative reasearch organization—says wo will never be able to reabsorb our unemployed masses completely. What, then, are we going to do about them? No candidate can afford to ignore that challenge. It will not do for him to say he favors social security. That will not provide for the unemployed. It may make some provisions, very meager, for those who are past 65. And it may afford relief to workers who have employment and lose it for a few weeks—unemployment insurance between jobs. But what of the four or five million workers who, as far as we can see now, are not going to have jobs? What provision is to be made iov them? How are we going to save these people from the disintegration due to unproductive idleness? How are we going to prevent them from becoming a sullen, threatening, undigested bolus in the social body. tt a THIS is not a problem of tomorrow. It is here. It has been with us for some years. But we have preferred to pretend that it is just a fleeting embarrassment which will presently pass with good times. We have all had plenty of time to think about it. Yet not only all of the announced candidates so far, but the President himself, have offered no proposal for facing this great human fact. It is this problem which is at the bottom of all the others. All the pother about the Constitution, the Supreme Court, the money muddle, government spending all stems from the impact of this grave depressive force upon our society. Yet all candidates ignore it. Business men say: Let us alone, stop government interference and business will go forward and put men to work. Perhaps. It may put millions to work. But there are four or five million it will not put to work. And what do the candidates of business propose to do about these four or five million? The voters are going to want to know. (Copyright, 1936. by NEA Service. Inc.)

INSURANCE ASSETS UP SHARPLY DURING 1935 Northwestern Life Cos. Also Reports Gain in New Business. The Northwestern Mutual Life Insurance Cos., Milwaukee, has shown a substantial increase in assets and new insurance paid for during 1935, E. A. Crane, Indianapolis general agent, announced today. Admitted assets reached an alltime high of $1,071,991,955.41. an increase of 5.3 per cent over 1934. New insurance, including annuities, amounted to $274,736,856, an increase of nearly 15 per cent. Total insurance in force amounted to $3,705.020,135, a slight increase over the previous year. Cash on hand and in banks totaled $9,967,947.88. Bond investments increased over $100,000,000, to total over $470,000,000. or 44 per cent of admitted assets. The importance of the life insurance companies in providing a vehicle through which millions of people are creating financial independence for themselves and their dependents, was pointed out. Produce Markets The prices quoted are paid tor stock fratherod In the country, while delivered n IndU'napolis the price is a cent hieherer. Heavy breed hens. 18c; leghorn breed hens. 13c: Leghorn springers. 12c: old star--130: old cocks 9c. Ducks, white. 5 lbs. and over. 11c: geese, full feathered, all sizes. 10c: all guinea*. 14 lbs. and up. 15c: No 1 strictly fresh eggs, loss off. 21c. Each full base must weight f5 lbs gross, a deduction of 10 cents a „vuad under 56 lbs. will be made. No. 1 butter, 39®40c: No. 3, 38fi37c. Butter.aL 36©37c. Quoted by the Wadley Cos. (By United Press) CHICAGO. Peb. 7.—Eggs—Market firm: receipts. 5850 cases: fresh graded firsts, 26>-c; extra firsts, 26 J c; current receipts. 25 l *e; dirties, 33c: checks. 204 c. Butter— Market firm; receipts. 10,401 tubs; extra firsts <9O-914 score), 3446 344 c: extras <92 score). 35c; firsts <BB-894 score). 33® 334 c seconds <B6-874 score). 324 c; specials. 3546 86c: standards. 344 c, Poultry —Market steady, easy; receipts, T car. 20 trucks. 2 cars due; ducks. 1746224 c; feese. 18c; spring chickens. 24625 c; hens. 8M234e; turkeys. 20 m23c; capons. 25m. 2€c; Leghorn hens, 14fel*c; old roosters, 17e; brollera, 234 625 c. Dressed Poultry— Turkevs. young Toms. 27c; young hens, 2"e; capons. 276 30c. Cheese —Twins, 184 c 164 c. Daisies, 1646164 c: Longhorns. 1646 184 c. Potatoes —Supply of Idaho - Russet Burbanks moderate; others light; market steady to firm; Idaho Russet Burbanks. 81.8562; U. S. No. 2. 813561.60; Wisconsin Round Whites. 81.35; Bliss Triumphs. 81.1561.25; North Dakota Bliss Triumphs, 81 30; Colorado McClures, $1.45

PAGE 22

PORKERS DROP 10 TO 25 CENTS AT CITY YARDS Cattle Market Steady to Weak; Vealers, Lambs Unchanged. A weak undertone continued to rule in hog trading today at the Indianapolis Union Stockyards, resulting in a further decline of 10 to 25 cents, and carrying the top price for better grades down to $10.70, the lowest since last Monday. The major decrease was limited largely to the underweight division, where demand was extremely scarce. Receipts were estimated at 5000, same as in the preceding session. This, combined with increased supplies received at nearby livestock centers, was believed largely responsible for the continuation of yesterday’s weak undertone. Holdovers numbered 275. The bulk of 160 to 225 pounds cashed in at $10.60 to $10.70. Other grades, scaling 225 to 275 pounds, brought $lO.lO to $10.50. Heavy weights, from 275 pounds and upward, sold at $9.40 to $9.95. Light slaughter pigs, 140 to 160 pounds, held at $lO to $10.25. Packing sows sold at $8.50 to $9.25. With supplies scarce, especially steers and heifers, the cattle market was steady to slightly lower than yesterday’s best average. An odd head of steers in small lots ranged from $6.25 to $8.50, while most heifers were eligible under $7. Cows and bulls again were unchanged. Receipts were 500. Vealers displayed a steady trading range. The bulk of good and choice kinds sold at $11.50 to sl2. Receipts numbered 500. Lambs also! were unchanged with the bulk ofj good and choice fed western grades selling at $10.25 to $10.50. Slaughter sheep held at $3.25 to $5. Receipts were 3000.

Other Livestock (By United Press) CHICAGO, Feb. 7. —Hogs—Receipts, Including 5000 directs; unevenly 10 to 20 cents lower than Thursday’s average; top $10.45; bulk, 170-240 lbs., [email protected]; 260-330 lbs., [email protected]; better grade, 140-160 lbs., slo@ 10.40; best sows, $9.50. Cattle—Receipts, 3000; calves, 500; very dull market on fed steers and yearlings; weak with Thursday’s 25 to 75-cent downturn; local buyers showing very little interest; few shippers and order buyers taking hold of low priced steers and heifers; prospects another carryover of medium to good grade steers similar to kinds selling earlier in week at $10.50 down: bulk of today's crop of quality and finish to sell at $7.5069.25; stackers dull: weak to 25 cents lower; heifers, 50 to 75 cents lower for week; dull today; other classes steady. Sheep—Receipts, 90000; asking prices and few sales of better grade fat lambs and yearlings around steady; quality considered: bids around 15 cents lower on better grade lambs usually refused; good to choicj native and fed western lambs bid $106:10.35 4 best held $10.50 upward; most yearlings. $9.75; aged sheep scarce; little changed; scattered native ewes. $46 4.75. FORT WAYNE. Ind., Feb. 7.—Hogs, 10c lower; 160-180 lbs., $10.40; 180-200 lbs., $10.30; 200-225 lbs., $10.20; 225-250 lbs., $10.05; 250-275 lbs.. $10: 275-300 lbs., $9.90; 300-350 lbs., $9.55; 140-160 lbs., $3.80; 120-140; lbs., $9.55; 100-120 lbs., $9.30. Rougs, $8.40; stags, $6.65; calves, $11.90; lambs. $10.15;. LAFAYETTE, Ind., Feb. 7.—Hog market 10 to 25c lower; 170-210 lbs., $10,456-10.50; 210-235 lbs., $10.256 10.35- 235-260 lbs., [email protected]; 260-300 lbs., [email protected]; 300325 lbs., $9.50: 100-170 lbs., $9.50@10; roughs, $9.25 down; calves, sll down. On Commission Row (Quotations 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. Cranbi.'ries, C. C. Howes, Eatmores, 25-lb. box, $3.25. Pears, Washington D’Anjo (100s box), $3.25; Washington Bose (100-120S). $3.25; California Avocado (203-245), $3.50. Grapes. Extra Fancy Empors (34-lb. sawdust chest), $3.75. Limes, Mexican (carton 12s). 25c; Persian seedless (doz.). 45c. Dates. Fresh Arizona, $1.50. Bananas, seven hands, pound, sc. Apples, Delicious (fancy baskets), $1.75: Jonathans. $1.50; Grimes Golden, $1.25; Rome Beauty. $1.65. Lemons. Sunkist (380s), $6. Grapefruit, Texas seedless (545-965), $3.50. Arizona Sunkist (80s). $2.75. Tangerines. Florida (120s. 1445. 168s I, $1.75. Vegetables—Articokes. California (doz.), $1.15. Beans, green, round stringless (hamper). $3.25. Beets, Texas (3 doz. crate), $1.50; cut offs (bu.), sl. Brussels Sprouts. California (quart), 20c. Cabbage, New York Dannish (50-lb. bag), 90c; New Texas (crate). $1.50. Red cabbage (50-lb. bag). $2. Carrots, California (7 doz. erate), $3.50; Texas (34 doz, crate). $1.75: (bushel). $1.50. Cauliflower, California (12s crate). $1.75. Celery. Florida washed and trimed (doz.), 60c9c $1.05; Florida (4s. 6s, Bs. 10s crate). $4. Cucumbers, hothouse (doz.). $1.75; southern (bushel), $6. Egg Plant, Florida (doz.), $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; (doz.). 60c. Mint, hothouse (doz.). 75c. Mushrooms (pound). 30c. Mustard. Texas (bushel), $1.35. Onions —lndiana yellow <SO-lb. bag). $1.35; Indiana yellow (10-lb. bag), 28c; Western Spanish (30-lb. bag); $1.65. Oyster plant, home grown (doz.), 40c. Parsley, southern (long bunches doz.), 50c. Parsnips, home grown washed (bushel), $1; (half bushel). 60c. Peas. Florida (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). $1.85; R. R. Cobblers (100-lb. bag), $1.75; Idaho Russets (100-lb. bag). $2.35; Idaho bakers (70s box), $2.40: Col. McClures < 100-lb. bag). $2: New Texas Triumphs (50-lb. bag), $2.15. Sweet potatoes, Indiana Jersevs (Is bushel). $1.50; mediums (bushel). $1: Tennessee Nancy Halls (hamper). $1.15; Southern Porto Ricans (bushel crate). $1.50. Radishes, home grown buttons (doz.). 40650 c; white. 40c. Rhubarb, hothouse (bunch), 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 GO-lb. box). $1.35; original Cuban (30-lb. lug). $3. SCRAP PRICES HIGHER CHICAGO, Feb. increase of 25 cents a gross ton in prices of scrap steel and iron was announced today. No. 2 grade was quoted at $13.50 to sl4 a ton. Busigraphs MONEY IN CIRCULATION END OF MONTH (U. S. TREASURY DEPT.) i4tmm x % V V/ ' TEN TEARS AVERAGE OF/ Ay y. O V, /y // (/tv THE SAME MONTHS //. Vy ■/ °‘ JFMAMJ^ASOND Tht WkRKER CCWP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS The money in circulation in this country at the end of December was just under 6 billion dollars, the highest year-end total in 15 years. Tills figure was exceeded only in March and April, 1933, but hoarding was prevalent in those days. The recent large circulation seems to be due to the heavy cash purchases made during the last Christmas season. The family finances of many had improved, and they adopted the “pay-fiash-as-you-go” • jnetnoa.

Abreast of The Times on Finance

New York Stocks

(Bi'-Thomson & McKinnon) 11:15 A. M. Prev. Oils— High. Low. N. Y. close. Atl Rfg 33% 32% 33 % 32% Barnsdall 18% 17*4 18% 17% Consol Oil 14% 14% 14% 14% Cont of Del ... 38 37*4 38 37% Houston (newt.. 11 11 11 11% Mid Cont Pet'.. 21*4 21% 21*4 21% Ohio Oil 16% 16% 18% 16% Pet Corp 17 17 17 17% Phillips Pet . 45 44% 45 44 Plymouth OH . 14% 14% 147* 14*,4 Pure Oil ... 20% 19% 20% 19% Seaboard Oil .. 36 35% 36 36% Shell Un 17% 17% 17% 17% Skelley Oil .... 27% 27% 27% 27% Soc. Vac 16% 16-’* 16% i6% 8O of Cal 46% 46% 46% 48 SO of Ind 40 39% 40 39% SOof N J 60 59*4 59*4 59% Texas Corp 34*4 33% 34% 33% Tidewater Assn. 18% 18*4 18% 18% Un Oil of Cal.. 27% 27 27% 27 Steels— Am Roll Mills... 31% 31% 31% 31% Beth Steel 53*4 52% 52% 52% Bvers A M ..... 24% 24% 24% 23% Inland Steel ..106 106 106 105% McKeesport Tin 114% 114% 114% 114 Mid Steel 23% 23% 23% 23% Natl Steel 70'/a 70% 70% 70% Otis Steel . 16% 16% 16% 16*4 Rep Iron & Stl 22*4 22*4 22,4 22 U S Pipe Ai Fdy 34% 34* * 34% 35 U S Steel .. 51% 51% 51% 51 U S Steel pfd .11 /* 119% 119% 119% Warren Bros. 6% 6% 6% 6% Warren P & Fdv 27% 27 27 26 Youngst'n S <te T 48 48 48 .47% Motors— Auburn 44% 43 44 a2*4 Chrysler 95% 95 95% 93% Gen Motors ... 58% 58% 58'/* 58 s /, Graham Mot .. 3% 3% 3% 3% Mack Truck .... 33% 33% 33% 32% Nash 18 18 18 17% Packard 8% 8% 8% 8% Reo . 6% 6 6 6 Sturiebaker 10*4 10% 10' * 10 Yellow Truck .. 15% 15% 15% 15% Motor Access— Dtndlx 24% 24% 24% 23% Bohn Alum .... 58% 58% 58% 58% Borg Warner ... 73% 73% 73% 72% Briggs 53% 53% 53% 53% Budd Mfc 10% 10% 10% 10% Budd Wheel .... 12% 12% 12% 12% Eaton Mfe .... 28% 28% 28% 28% Elec Auto Lite 40% 39*4 39*4 38% Elec Stor Bat . 52% 52% 52% 52% Murrav Bodv ... 19% 19 19% 19 Stew Warner .. 20% 20% 20% 20% Timken Roll .. . 70% 70% 70% 70% Timken Det Axle 16% 16 16% 15% Mining Alaska Jun ..... 16V* 16*/* 16'/* 16% Am Metals 34% 34 34% 34% Am Smelt 63% 63% 63% 63 Anaconda 30% 30% 30% 30*4 Cal & Hecla ... 7% 7% 7% 7% Dome Mines 47% 47% 47% 48 Howe Sound ... 53*4 53'/* 53% 53% Ins Copper 7% 7*4 7% 7V* Int Nickel 49 V* 49 49'/* 49% Kennecott Cop .. 34V* 33% 34'/* 33% Mclntyre Mine.. 45% 45% 45% 45% Park Utah 4% 4% 4% 4% Phelps Dodge ... 34*4 34*4 34% 34% U S Smelters ... 92% 92% 92*4 92*4 Vanadium 24*4 24% 24*4 24% Amusements— Crosley Radio .. 18'/# 18% 18% 18'/* Fox Theat 27 27 27 27'/* Loews Inc 52% 52 52 51% Radio Corp 12% 12% 12% 12% Paramount 11% 11% 11% 11% RKO 7% 7% 7*4 7% Warner Eros ... 13% 13% 13% 13 Tobaccos— Am Tobacco ‘A’ 101 101 101 102% Am Tobacco ‘B’. 103% 103% 103*4 104 Lorillard 25% 25% 25% 25% Phillip Morris 71% 71% 71% 70% Reynolds Tob ’B’ 58'4 58 % 58% 58 Rails— Atchison 75 74% 74% 74%. Atl Coast Lines. 33% 33*4 33% 32% B& O 20% 19"% 20% 19% Can Pacific 13'/* 13'/* 13'/* 13'/* Ch & Ohio 59% 59% 59'4 59'/* Chi & Gt W pfd 8 7% 8 7% C M &St P pfd. 5% 5% 5% 5% Chi N W 4% 4% 4% 4% Dela & Hud .... 46% 46% 46% 45% Del Lac &W.• •. 18% 18% 18% 18% Erie 14% 14% 14% 14% Erie pfd 26% 26% 26% 25% Gt Northern pfd 36% 36% 36% 36% 111 Central 24*4 24 24% 23% K C Sou 17% 16*4 17% 16 Lehigh Valley... 10% 10% 10*4 10% Lou & Nash ... 73% 73% 73% 73 M K & T 8% 8% 8% 8% Mo Pac 4 4 4 3% Mo Pac pfd .... 7% 7% 7% 7% N Y Cent .... 35% 35% 35% 35 N Y New Haven 5% 5% 5% 5% Nor Pacific 28 27% 27 % 27'/a Penn R R 35% -5% 35% 35*4 Sou Pac 31*4 81 31'/* 30% Sou R R 16'/* 15*4 16% 15*4 Equipments— Am Car & Fdy.. 37% 36% 37% 36% Am Loco 30% 30'/* 30% 29% Am Steel Fdy... 29*4 29% 29*4 28'/* Bald Loco 6 5% 6 5*4 Gen Am Tank C 62*4 62 % 62% 62 Gen Elec 40 39*4 39% 39*4 Pullman Inc ... 44% 44*4 44*4 44% West Air Br 40 39 39 39% Westlngh Elec... 121% 119*4 119 3 4 120% Utilities—- & For Pwr.. B*4 8% B*4 8% An: Power & Lit 10’/* 9% 9% 10% AT&T 171'% 171 171% 170% Am Wat Wks .. 22% 22*/* 22% 22 Col Gas & Elec. 16*4 16% 16*4 16% Comm & Sou ... 4% 4% 4*4 4% Consol Gas ... 35% 35'* 35% 34% Int Hydro Elec. 5 5 5 4*4 Int T & T . 18% 18 18 17*4 Nat Pwr & Lit. 12 2 12 12 North Amer ... 19'4 29'4 29% 28% Pac G & E ... 35*4 35*/* 3a‘/a 35'% Pub Serv N J . 47 47 47 47*% So Cal Edison ... 27% 27% 27>4 27% Std Gas 8% 8% 8% B*4 Stone & Web .. 17'% 17'4 17V* 17'/* United Corp ... B'/# 8% 8% 8 Un Gas Imp .. 18% 18% 18% 18% Ut Pwr & Lt A 4% 4% 4% 4% West Union 841% 84 84% 83 Rubbers— Firestone 32% 32 32 32 Goodrich 19*4 19% 19V* 19V* Goodyear 26% 26'% 26'% 26'4 U S Rubber .. 19% 19% 19'% 19% U S Rubber pfd. 62'% 62% 62% 62 Miscellaneous— Allis Chalmers .. 44*4 44*4 44% 44% Am Can 125 125 125 125% Am Mach & Fdy 27% 27 27% 26'% AneUor Cap .. 24% 24% 24% 23*4 Brklyn Man Tr. 42% 42% 42% 43% Burroughs Add . 29% 29% 29'% 29% J I Case 11l 111 111 lio Conti Can 80 80 80 78% Crown Cork ... 51% 61% 51% 51*4 Gillette 17% 17% 17% 17% Glidden 50V* 49% 49'% 49*/, Inter Harv 67'% 67% 67'% 67'% Natl Cash Reg.. 28(4 27% 28'4 27 Rem Rand ... 21% 21*4 21*4 21% Underwood E .. 92% 92 92% 91% Worthingt’n P. ..34 33% 34 33 Foods— Armour 6% 6% 6% 6% Armour 6% pfd 81% 81% 81% 81% Borden Prod 29% 29% 29% 29'% Cal Packing 35 35 35 34*4 Canada D G Ale 15% 15% 15% 15% Cont Bak A 13% 13% 13% 13% Corn Prod 69'4 69'4 69% 70'% Cuban Am Sug.. 10% 10 10% 9% Gen Foods 33% 33% 33% 34 G W Sugar 32% 32% 32% 32% Natl Biscuit ...34% 34(4 34% 33V* Natl D Prod .... 23V* 23% 23(% 22% Purity Bak .... 15 14% 15 14*4 Std Brands 16% 157* 16'/* 17% United Fruit .. 78 77*4 78 77'% Gimbel Bros 7% 7% 7% 7% Kresge S S 24% 24% 24% 24% Kroger Groc ... 26% 26% 26% 26*4 McCrory St 14V* 14% 14% 14 McLellan St 14 14 14 14V* May Dept St ... 49% 49% 49% 49% Mont Ward 39% 38% 39% 38V* Natl Tea 11 li n liy# Penney J C 77% 77% 77% 77 Safeway St ... 33% 33% 33% 34% Sears Roebuck 64% 64% 64*4 64% Woolworth 55% 55% 55% 56% Aviation— Aviation Corp .. 6 8 6 6*4 Boeing Aircft .. 24% 24% 24% 23% Curtiss Wright . 4% 4% 4% 4% Curtiss Wr •*A”. 14% 13% 14% 13% Douglas Air 72 72 72 71% Nor Am Av 7% 7% 7% 7% Sperry Corp 21% 21-4 21% 21% Uni Aircft New. 2r% 27*4 27*4 27% Chemicals— Air Reduction.. . 192 193 193 193 Allied Chein ....165% 18-' 1 * 165% 165% Col Carbon ....106% 106% 106% 107% Com Solvents .. 20% 20% 20% 20% Du Pont 146 I*3 146 145% Freeport Tex ... 34% 34% 34% 35 Math Alkali 33% 33 33 32% Natl Dls (new). . 29V* 29% 29% 29% Tex Gulf Sulph. 38% 38*4 38% 38 Union Carbide 77% 77% 77% 77V* U S Ind Alcohol 40*4 40*4 40% 41 ☆ Commercial Banking Savings • Trusts American National Bank AT INDIANAPOLIS Your Local Suilding & Loan Association Makes Modernization Loans and Loans on New Homes. 1 1 KLEIN & KUHN, INC. | Property Management LI-3545 II 706 Bid*. 1 .... .! , f — 1

FRIDAY, FEBRUARY 7, 1936

Drugs— Coty Inc 6% 6% 6 % 6% Lambert 26 26 26 26** Lehn & Fink ... 14% 14% 14% 14% Un Drug inew). 15% t-S% 15 s * 15% Zonlte Prod .... 8% 8% 8% 8% Financial—• Adams Exp 12% 12% 12% 12% Allegheny Corp.. 4% 4% 4% 4% Am Int Corp ... 12% 12% 12V* 12% Chesa Corp .... 73 73 73 73% Tr Conti Corp.. 11% 11% 11% 11% Building— Am Radiator .. 24 237* 237* 24 Gen Asphalt ... 34% 34% 34% 34% Holland Furnace 42 40% 42 40 % Int Cement Johns Manville 116% 115% 116'4 116 Libby Owens Gls 56 55% 55% 55V* Otis Elev 25V* 25V* 25% 26V* U S Gypsum ... 99% 99% 99% 99% HouseholdCol Pal Peet.... 19'4 19'4 19V* 19 Kelvlnator 18% 18% 18V* 18% Servel Inc 20 19*4 19*4 19*4 Simmons Bed .. 24V* 24 24% 24% Textiles— Beldlng Hem ... 14V* 14% 14V, 14% Celanese Corp .. 29'4 29A 29'A 29 Collins Aikman.. 48'A 48 48 47 5 / a Gotham Hose .. 10*/* 10 >4 10% 10*4 Indus Rayon — 29% 29V* 29V* 29'A Kayser Julius .. 32% 32V* 32V* 32% Chicago Stocks (By Abbott, Proctor & Paine) 11:00 Prev. A. M. close. Butler 9 V* 9'/* Chicago Corp 5% 5% Cities Serv 6*4 6% Com Edison 105 105 Conti Steel 41 41 % Cord 6 '4 6% Crane 29 27*4 Elec House 17 17 Grt Lakes Dredge 30 '4 30'4 Iron Firemen 29% 2?% Noblitt Sparks 34% 34% Perfect Circle 39% 39% Pub Servos 111 59% 59% Quaker Oats 135 134 Swift 24 24'4 Swift Int 35% 35V* Zenith 14% 14*4 New York Curb (By Abbott, Proctor & Paine) 11:30 A. M. Prev. ~ . N. Y. close. Alum Cos of Am 101% 100% Am Cyanide “B” 34% 24% Am Superpower 3*4 3*4 Atlas Corp 14% 14*4 Axton Fisner Tob 55% ... Can Indus Ale “A” 11% 11% Carrier Corp 11 % 11% El Bond & Share 18% 18*4 Fisk Rubber B*/* B '4 Ford of Can “A” 25 V* 25*4 Ford of Europe B'% BV* Imuerial Oil Ltd 24*4 24V* Lake Shore Min 58 57V* Newmont Min 93% 94*4 Nia Hud Pwr 10% 10% Pan Am Airways 52*/* 52 Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,431,000 Debits 6,196,000 TREASURY STATEMENT (By United Press) WASHINGTON, Feb. 7.—Government expenses and receipts for the current fiscal year to Feb. 5, as compared with a year ago: This Year. Last Year. Expenses ..$4,372,930,200.39 $4,152,357,531.34 Receipts .. 2,174,907.236.47 2,107,709.563.47 Deficit .... 2,198,022,963.92 2.044,557,967.87 Cash bal. . 1,930,654,334.47 2,240,094,670.56 Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers’ Trust 64*4 66% Central Hanover B& T 115*4 117'A Chase 39Va 41*% Chemical National 55*4 57'% Guaranty 297 300*4 Irving 17 '4 18*4 Manufacturers 46*4 48*/* National Citv 36>4 37% Cont 111 Chicago 132 134'4 First National Boston 47% 49*% National Shawmut 27*4 29% FIRE INSURANCE Aetna Fire 65 67'A American Ins of Newark 17*4 19*/* Baltlmo' , e American 9% 11 V 4 City of New York 31 33'4 Federal Ins 110 115% Franklin Fire 337% 35'% Great American Ins 32'% 34'/* Hanover Fire Ins 40 41% Hartford Fire Ins 88'4 90‘4 Home Ins 39*4 41*% Ins Cos of N A 82'% 84*4 National Fire 87 89*4 National Liberty 11 12*% North River Ins 29 5 /* 31'4 Phoenix 102 105*4 U S Fire 59 61'4 Westchester Fire 40% 42'% BAKERY REPORTS LOSS Times Special CHICAGO, Feb. 7.—The Purity Bakeries Corp. today reported a consolidated net loss of $251,583 for 1935, compared with $209,217 earned in 1934 at the rate of 27 cents a share. DAVIDSON SALES DROP Times Special CHICAGO, Feb. 7.—Total sales of $3,196,000 for 1935 compared with $2,474,000 in the previous year were reported today by the Davidson Biscuit Go., Mount Vernon, 111.

THE INDIANA NATIONAL BA! K OF INDIANAPOLIS For the past 71 years ... THE INDIANA NATIONAL BANK has grown and prospered with Indianapolis. Sincerity of purpose . . . fair dealing . . . honest policies . . . conservative banking practices have made this bank a strong financial institution, a powerful factor in the progress and welfare of Indianapolis. “STRENGTH—EXPERIENCE—SERVICE” 1865 SPECIALIZING FOR 7I YEARSINC OMME RC IA LBA NKI N G 1936 < Member Federal Deposit insurance Corporation ; :i J' 'iJ

SEED CORN OF INDIANA WEAK, TESTS REVEAL Report on Condition Is Made by Botanist at Purdue U. Times Special LAFAYETTE, Feb. 7.—Seed corn which will be used to plant Indiana’s four million or more acres of corn this spring shows a relatively high percentage of weakness, according to Dr. C. T. Gregory of the botany staff of Purdue Agricultural Extension Department. Dr. Gregory recently completed tests on corn sent to him by 254 farmers in 74 counties. The rag doll method was used to show germination, moldy seed, weuk seed and seed affected with diplodia or corn root rot. With this method, corn from numbered ears is placed on a large cloth with numbered squares. Papers then are placed over the earn and the whole thing rolled and dampened. After a proscribed length of time the bundle is opened for analyzation. Results of Test The tests made show the following results: 92.4 per cent germination; 44.3 per cent moldy seed; 17.5 per cent weak seed, and 3.3 per cent affected with root rot. For a good crop the latter three should show but small percentages, according to Dr. Gregory. “It is evident,” Dr. Gregory points out, “that the lateness of planting last spring and the early freezes in the fall injured about one ear in five. Zero weather in December, when the corn till contained considerable moisture, also caused further damage. In one of the samples tested, which was from field selected and rack dried seed, nearly all of the kernels were dead.” Gives Hints on Seed Some suggestions offered by Dr. Gregory to assure good seed are: 1. Examine the butt tissues of the ear and discard every ear that shows a dull brown, a pink or rotted appearance. A shredded condition also is tad; a clean, white break is desirable. 2. The healthy ear will be heavy and have a bright color. The damaged ear will be dull and faded and often will be loose and twisty in the hands. 3. Before accepting any ear pull out at least eight kernels from the butt to the tip. These kernels should be filled with the hard, well-ma-tured starch from tip to cap. 4. Kernels that are not mature will have soft, starchy, pinched tips or may show the starchy condition throughout the greater part of the kernel. After the seed corn has been culled carefully in this way, farmers are urged by Dr. Gregory to make a rag doll test of at least 40 ears taken at random. INDIANA NATIONAL TO VOID ADDED LIABILITY Action Is Taken Pursuant to Federal Statutes. The additional liability imposed by the Federal Reserve Act on holders of such shares of stock in a national banking association as were issued on or before June 16, 1933, will cease July 1, 1937, with respect to all such shares of stock of the Indiana National Bank, officials of the bank have announced. Under the provisions of previous legislation, no such additional liability is now imposed on holders of shares of stock of a national banking association newly issued after June 16, 1933.

New York Bonds

(Reprinted From Lei* Times Yesterday) DAILY BOND INDEX 20 20 20 60 Indus. Rails. Util. Bonds. Today 92.9 92.2* 105.0 96.7* Yesterday 93.1 91.8 105.0 96.6 Week ago 92.7 90.9 105.1 96.2 Month ago 91.8 85.6 103.8 93.8 Year ago 86.2 81.5 92.1 86.6 1036 high 93.1 91.8 105.2 96 6 1936 low 91.# 84.7 103.5 93.3 •New high. (Copyright, 1936, bv Standard Statistics) U. 8. GOVERNMENT bonds (By Abbott, Proctor & Paine) Treasury* Prev. Close, close. 4'4 s 1943-45 115.21 113.18 4s 1944-54 111.14 111.12 3%s 1946-56 109.14 109.14 3%s 1940-43 107.30 107.27 3%s 1943-47 106.26 3g! 1941-43 108.17 108.12 3‘4s 1943-45 106.14 106. ? 3 (4s 1941 108.15 103.15 3‘/ 4 s 1944-46 106.5 105.30 3'/*S 1946-49 104.7 104.4 3%s 1949-52 J 04.6 104.3 3s 1951-55 103.8 103.1 3s 1946-48 193.15 103.1? 2%s 1955-60 100.16 100.15 2%s 1945-47 101.19 101.17 Home Owners Loan Corp. 2%s 1941 99 31 li 1951 :::: 102.9 102.27 Federal Farm Mortgage Corp. 3. 1949 101.17 99.31 2% 1947-49 li 100.22 100.19 DOMESTIC Prev. Tcsue Close, close. AUeg Corp 5s ’44 94% 94% Alk’g Corp 5s ’49 90% 90% Alleg Corp 5s '56 74% 75 Am Frgn Pow 5s 2030 -79% 79 Am Tel & Tel 5% ’43 113% 113% Am Tel & Tel 5s ’65 .... 113% 113% Arm & Cos. (Del) 5%s ’43 ... 97% 97 , 4 Atl Coast Line 4s ’52 97% 97 Atl Coast Line 4%s '64 85% 84% Atch Top & S Fe 4%s ’4B 100% 111% Am Wat Wks 5s ’44 110 111% Am Rolling Mills 5s ’3B 126% 126% Balt & Ohio 5s ’95 84*% Sl*/ 4 Balt & Ohio 6s ’95 94% 94% Balt & Ohio 4%S ’6O 74% 74 Buff Roch & Pitt 4%s ’57 .. 77% 77% Beth Steel 5s ’36 105% 104% Chi Milw &StP 5s ’75 24% 24 Chi Milw & St P 5s 2000... 9% 9V* Cleve Un Term 5s ’73 104 103% Cleve Un Term 4%s ’77 97% 97% Col Gas 5s May ’52 102% 102% Col Gas 5s ’6l 101% 101% Can Pac Perp 4s 92(4 91% Cent Pac 5s ’6O 96% 96 % Big Four 4%s '77 90% 89% Big Four 5s ’63 97% 89 Colorado &So 4%s ’BO 72'/* 72 Chi & West Ind 4s ’52 103 102% Chi & West Ind 5%s ’62 ....106% 107 Chi & Nor West 4%s ’49 .... 16** 16% Con Ga; 5s ’57 104% 104% Chesa Corp 5s ’47 133 Va 132% Del & Huds 4s ’43 84 83% N Y Dock 4s ’sl 74 71% N Y Dock 5s ’3B 6574 65 Erie 5s '75 790'/a 78% Erie 5s '67 79% 79% Gen Cable 5%s ’47 104% 102% Grt Northern 7s ’36 102'% 102% Grt Northern 4%s ’76 101'% 100% Grt Northern 4%s ’77 ...100% 100% Gen Stl Cast WW 5%s ’49 ... 95% 91% Hud & Manhat Ret 5s ’57 86'/, 86% 111 Cent 4%s ’66 73’% 73 111 Cent Jt 4'%s ’63 78 77% 111 Cent 5s ’63 82% 82 Interlake C & I 5s *sl 93 93(4 Interntl Hy Elec 6s ’44 49*4 52% Interntl Tel & Tel 4%s *39... 97% 97 Interntl Tel & Tel 5s ’55 93 91% Interntl Tel & Tel 4%s ’52... 88% 86% McKess & Rob 5%s ’SO .\103% 103% Natl Dairy 5%s ’4B 103'% 104% Natl Steel 5s '56 106% 103% Nickel Plate 4%s *7B 82 82 Nickel Plate 5%s ’74 92% 92% Nickel Plate 6s ’35 105 104% N Y Cent 5s 2013 92(4 92'% N Y Cent 4%s 2013 (old) .... 89% 86’% Nor Amer Cos 5s ’6l 103% 104’/* Nor Pac 3s 2047 78 % 78% Nor Pac 4%s 2047 99% 99% Nor Pac 6s 2047 109% 110 Nor States Pow 5s ’4l 105'/* 105(4 New Orleans Term 4s ’53 87% 87% Otis Steel 6s ’4l 101% 101% Penn Ry 4%s ’B4 107% 106% Penn Ry 4%s ’Bl 107% 106% Penn Rv 4%s ’7O 102'/* 102** Pac G & E 5s ’42 104'% 104'% Portland Gen El 4%s *6O .... 7!) 78% Para Publix 5%s ’SO 96*4 96% Penn P & L 4%s ’Bl 106% 106% Postal Tel & Cab 5s ’53 40*/* 38% Shell Union Oil 5s ’47 102% 102% Sou Pac 4%s ’6B 87 87 Sou Pac 4%s *8( 87(4 87% Sou Pac 4%s ’69 87*4 87(4 Sou Pac 4s ’49 88 81 % Sou Rail 4s ’56 60 59 Sou Rail 6s '56 78 76 Sou Rail 6%s ’56 82*4 80 Sharon Stl Hood 5%s ’4B 103 103'/# Texas Pac 5s ’BO 100% 99% Texas Pac 5s ’79 100 99V* Texas Pac 5s *77 100'/ 4 100(4 Union Pac 4s ’47 112% 112'/* United Drug 5s ’53 101 101 U S Rubber 5s ’47 109 109 NY NH & Hart 6s ’4B 39'% 40% NY NH & Hart 4%s *67 38% 39(4 Warner Bros 6s ’39 . 94 94 Western Mary 5%s *77 107 107% Chicago Grain Futures (By James E. Bennett & Cos.) 11:00 Prev. Wheat— High. Low. A. M. close. May 99% ,89 V* .99 .99% July 89'% .89% .89% .89% Sept 88% .88% .88% .88% Corn— May 60% .60% .60% .60*4 July ,60V* .60*4 .60*/, ,60V* Sept 60% ,60V* .60% .60% Oats— May 28*4 28% .2?% .28% July 28(4 .28(4 .28’/* .28% RyeMay 58% .56% .56(4 .58% July 57 .56% .57 .57% Sept 57 .57 .57 .57 LOCAL CASH MARKET City grain elevators are paying 94 cents for No. 2 soft wheat. Other grades on their merits. Cash corn new No. 4 vellow 50 cents and oats 21 cents.

Scrap Iron Remelting Approximately 20,000,000 tons of scrap steel were remelted last year by the steel industry in the United States and 2,100,000 tons of scrap were exported to foreign countries.

Western Mary 4s *52 98% 98% Youngstown 8 & T 5s *7O .... 105: 105 Youngstown S & T 5s *7B ....109 109 FOREIGN Argentina A #s *57 98 98% Argentine B 6s *SB 97 s * 98% Brazil 8s *4l 31% 31% Canadian Govt 4s *6O ICB 106* . German 5%s *65 28% 28% German 7s '49 37% 37% Italy 7s ’sl 62% 62% Japan 6%s ’54 99V* 98% Rome 6%s '52 56 56% Tbklo City 5%s ’6l 82 81 % Local Livestock HOGS Feb. 1. $10.55910.65 $10.95 1000 3. [email protected] 10.70 6000 4. [email protected] 10.85 4000 5. 10.90® 11.00 11.00 3000 6. 10.70010.80 10.80 5000 7. 10.60010.70 10.70 5000 Light Lights. (140-160) Good and rnolce slo.oo@ 10.50 Medium [email protected] U6O-180) Good and choice.. 10.50(o 10.70 Medium 10.06® 10.50 (180-200) Good and choice.. 10.60®T0.70 Medium 10.10(<710.80 (200-220) Good and choice.. 10.60® 10.70 (220-250) Good and choice.. 10.40010.60 Heavyweights. (250-2901 Good and choice.. [email protected] (290-350) Good and choice.. 9.40® 9.25 Packing Sows. (275-350) Good 9.009 9.25 (350-425) Good 8.85® 9.10 (425-550) Good 8.75f 9.00 (275-350) Medium 8.50® 8.90 Slaughter Pigs. (100-140) Good and choice.. 9.50® 10.00 Medium 8.75® 9.75 CATTLE —Receipts, 500— (500-900) Choice $ 9.75® 11.50 Good B.oo® 10.50 Medium 6.50® 8.25 Common 5.004/ 6.50 (900-1100) Choice 10.75912.25 Good 8.50® 11.00 Medium 6.75@ 8.50 Common 5.25® 6.75 (1100-13001 Choice [email protected] Good [email protected] Medium 7.00@ 8.75 (1300-1500) Choice [email protected] Good 8.75®11.50 Heifers (500-750) Choice 8 75@ 9.75 Good 7.25® 8.75 Common and medium 4.5047) 7.25 (750-900) Good and choice ... 7.50® 10.00 Common and medium 5.00® 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 6.500 7.25 Cutter, com. and med. bulls... 4.50® 6.50 VEALERS —Receipts, 500 — Good and choice $11.50912.00 Medium [email protected] Cull and common 5.00® 9.00 Calves (250-500) Good and choice .... [email protected] Common and medium 4.50® 7.00 Feeder and Stocker Cattle (500-800) Good and choice 7.00® 8.00 Common and medium 5.00@ 7.00 (800-1050) Good and choice.... 7.00@ 8.00 Common and medium .... 5.000 7.00 Cows Good 4.50® 5.00 Common and medium 4.000 4.50 SHEEP AND LAMBS —Receipts, 3000— Lambs, 90-lbs. down, good and choice [email protected] Good 10.25(5 10,40 Medium [email protected] Common 7.00® 9.25 Ewes. (90-175) Good and choice,... 4.00@ 5.00 Common and medium 3.00@ 4.00 Yearling wethers good choice 9.00® 9.50 Medium 7.00 0 9.00 STARTS BUSINESS DRIVE Michigan City Opens Campaign to Attract New Industries. Times Special MICHIGAN CITY, Ind., Feb. 7. Concerted effort to attract new industries to Michigan City was begun today by the local Chamber of Commerce. A committee to assist E. H. Utley Jr., named recently as director of the organization’s new industrial division, is to be headed by Charles H. Jones. Others selected by Chamber directors to assist in the campaign are Mayor R. C. Fedder, George E. Baker, R. N. Zeek, P. C. Gale and R. W. Shaw.

Thomson & McKinnon MEMBERS NEW YORK rHTPAm New York stock Exchange. TORONTO NeW Y ° rk Curb ExchanKe * IUxvUIN 1U New York Cotton Exchange. BOSTON New York* Coffee and Sugar Exchange SOUTH BEND o|| New Orleans Cotton Exchange. pm W A Viwp Chicago Stock Exchange •CA7*A IVTC!X7-TT T Chicago Board of Trade AlNoVlLLilli Winnipeg Grain Exchange Indianapolis Office And Other leading Exchangee 200-214 Circle Tower LI. 5501

RICE ADDRESSES FIRE INSURANCE GROUPJPARLEY FCA Louisville Agent Here for State Convention of Association. Delegates to the state convention of the Indiana Mutual and Cooperative Fire Insurance Association today pondered the statement of Ernest Rice, general agent. of the Farm Credit Administration of

Louisville, that farmer's mutual insurance companies are eligible for operating loans from the Louisville Bank for Co-operatives. “This bank was created solely to finance sound and well -managed farmer’s co-opera-tive marketing and purchasing associations on a definite business basis," Mr.

Rice said in his address at the Claypool. Farmer Group Included “Congress in the farm credit act of 1935 specifically enlarged the scope and the mandate of banks for co-operatives to include ‘farmers business service organizations.’ Cooperative fire insurance companies are this type of organization. Applications already are being received by the bank for loans to mutuals to enable prompt payment of losses pending returns from assessments. “The 3 per cent year interest rate which prevails at this time .on Louisville Bank for Co-operatives' loans to farmers’ organizations for operating purposes is proving particularly attractive to the mutual insurance companies. Boards of directors should know that this source of low cost operating credit is open to all sound farmers’ cooperatives of Indiana, Ohio, Kentucky and Tennessee.” Z The Louisville Bank for Co-Op-eratives, the speaker stated, is one of the permanent units of the Farm Credit Administration and has been operating for two years. KRESGE SALES SPURT January Business Up 1.28 Per Cent Over Same Month Year Ago. Times Special CHICAGO, Feb. 7.—The S. S. Kresge Cos. today reported an increase of approximately 1.28 per cent in January sales, compared with the corresponding month a year ago. The company, however, did no take into consideration the number of stores now operated, compared with the total number a year ago. Total sales during the month amounted to $8,597,317, compared with $8,488,424 in January, 1935. As of January, 1936 the company had 743 stores, including 695 American and 48 Canadian, compared with a total of 732 in operation a year ago, 686 American and 46 Canadian.