Indianapolis Times, Volume 47, Number 296, Indianapolis, Marion County, 19 February 1936 — Page 12

T rends New York Bankers Warned of U. S. Tax Burden. B* JOHN T. FLYNN NEW YORK, Feb. 19.—A Boston banker, haranguing his fellow bankers at the Waldorf-Astoria, warned them that if the United States did not ease the tax burde 1 “some of our heavily taxed citizens would leave the country.” Many years ago, when the first income tax law of Just 2 per cent was proposed under Grover Cleve-

land. Mr. Ward McAllister, then leader of New York’s Four Hundred and the inventor of that title for them, declared that if the law were passed “some of our best citizens will leave Americe.” William J. Bryan was a young C o n g r essman and he answered McAllister by inquiring: "Whither

JJ

Flynn

will they fly?” There was not a country in Europe then which did not impose a far heavier income tax than the modest levy of 2 per cent suggested in the ill-starred income tax bill. nun ONE may ask the same question today: “Whither will they fly.?” Here in America a SIOO,OOO---year man, even without the usual deductions, would pay about $30,000 ir income taxes. In England he would have to pay $45,000. Then are countries where income, taxes are lower, but alas! investment, there is pretty precarious. For instance, the rate in Germany is much smaller than in the United States. Would any American intrust his investments to Germany now, with a government built upon a recent revolution and with vast expenditures for armaments which will have to be met by appalling tax imposts? The rate in Italy is even smaller. But Italy approaches bankruptcy. And if the American had his investments in Italy, he would have to turn them all over to the Bank of Italy and receive for them Italian bonds on which he would draw interest in Italian lire. And how iong are we to suppose that the lire will be worth very much, with a government tottering toward bankruptcy and inflation under the weight of a small war with a backward country’? an n FOR that matter, what European country, in a Europe torn by war rumors and on the verge of disaster, would any American select as a refuge for his expatriated dollars? As things are Europeans have been sending their money here. We have gotten about a billion and a half dollars of it in the last year—European money in flight from the dangers there. Whither then will the frightened American tax dodger fly? When Bryan asked in Congress “Whither will they fly?” some member called out. “To Mopte Carlo.” Bryan, with that amazing faculty he had for ready response to interruption, replied: “Then to Monte Carlo he will go. and there he will give up to the wheel of fortune all of that wealth of which he would not give a part to the country which enabled him to make it" BETTER TICKER SERVICE New York Stock Exchange to Expand Quotation Department. Timr* Special ' NEW YORK, Feb. 19.—Plans for & 25 per cent increase in the capacity of the quotation department of the New York Stock exchange have been approved by the committee of arrangements, it was disclosed today. Twenty-four new quotation positions are to be added to the 102 pow employed. A corresponding h crease in the department's staff ip order to take care of the additional apparatus has also received the committee’s approval. On Commission Row (■Quotations below subject to change are average wholesale prices being offered to Stivers bv local commission dealers.) FRUlTS—Strawberries: Florida, pint, lRc:-36-pint crate. 17c. Cranberries. C C. Kosfcs, Eatmores, 25-lb. box, $2.75. Pears: Washington D'AnJc (100s box l . $3.25; Washington Bose (100-l2os *. $3.25; California Avacado <2OO-2451. $3.50. Grapes: JT.xtra Fancv Emperors (34-lb. sawdust Chest). 3.50. Limes: Mexican (carton 12s V 25c: Persian seedless (dor.). 45c. Dates: Fresh Arizona. $1.50. Bananas, seven hsnds. pound. 4%c. Apples: Delicious (fancv baskets). $1.75: Jonathans. $1.50; Grimes Golden. $1.25: Rome Beauty. $1.65. Lemons: Sunkist i36os>. $6. Grapefruit: Texas seedless is4s-80s). $3.75 Arizona Sunkist '80s). $3. Tangerines, Florida (120s 1445. 16RS), $1.7. VEGETABLES Artichokes. California (doz.i. $1 15 Beans green, round stringlets ihamperl. $3.25. Beets; Texas >3 doz crate'. $1.50: cut. offs ibu.i, $1 Brussels Sprouts. California 1 quartt. 20®22r. CaDbsge. New York Danish 'SO-lb bag l . 80f New Texas tcraie). $1.35. Red cabbage 150-lb bag). $2: Carrots. California (6-doz. crate l S3 25: Texas (3%-<Joz. crate'. $1 7 bushel). *165 Cauliflower, California tl?s crate). $1.75. Celerv. Florida washed end trimmed (dor l, 60c® $1; Florida (4s. os. Bs. 10s crate), $3.75. Cucumbers, hothouse 'doz.i. $1.35; southern ,bushel). *6 Ecg Plant. Florida (doz.). $1 50. Kale iVirginta bushe). SOc. Let'uce. Iceberg Arizona 'best 4s. Ssi. $3 50; home grown leaf f 15-lb. baskets), $1 Endive. California doz.i. 90c. Peppers mangoes (crate), SL peck basket $t,25: (doz.). 45c Mint, hothouse (doz.) 75e Mushrooms mound). 30c Mustard. Texas (bunch). 75c. Onions —lndiana yellow 150-lb. bagt. $125: Indiana ’fellow (10-lb. bag). 28c: Western Spanish (50-lb. bag). Sl.iS; Ovster plant, home grown (doz.). 40c Parsley, southern (long bunches doz ). 45c. Parsnips, home Dinar, washed (bushel). $1: (half-bushel), 60c. Peas, Florida (hamper). $2 76. Potatoes. Michigan Round Whites (100-lb bag l , $2 Matna Green Mountains 1100-lb. bag), 53.35; R. R Early Ohios (100-lb. bagt. *2- R. R. Cobblers (100-lb. bag!. $2: Idaho Russets (100-lb. hag *2 40: Idaho bakers (70s box). *2 50: Col. McClures (100lb. bag). $2 20: New Texas Triumphs 150lb hag), 53.15. Sweet potatoes. Indiana Jerseys (Is bushel. *1.50: mediums (bushel). $1: Tennessee Nancy Hall* (hamper), *1.15: Southern Porto Ricans (bushel crate). *1.50. Tladtshes. home grown buttons (dot.). 45c: white. 40c Rhubarb, hothouse (bunch). 50c. Rutabagas. northern (50-lb. bag). 85c. Sage (doz ). 45c. Shallots. Louisiana (doz t. 45’S'DOe. Spinach. New Texts (bushel). #l. 10 Turnip*, home grown washed (bushel). $l5O Tomatoes reoaeked (10lb box), $1 40: original Cuban (30-lb. lug). $3. FRUITS AND VEGETABLES (By United Press) CHICAGO Feb. 19.--Apple*-- Michigan Mclntosh, bushel. *llo® I SA. Carrots— Illinois bushel. 50® 75c Sweet potatoes - Tennessee, bushel. 75®90c Beans— Florida bushel. $l5O if 2 Cabbage Sacks, ter c*t . *1,50 Peas —California, bushel hampers. s2® 3 2s. Spinach--Texas, bushel 75®05c. Lettuce —Western crates. 5 doz . $2 25® 2 46 Cucumber*—Cuban, bushel. $3.75®4 Celerv —Florida, crates. *2 50 ®3 25 Cauliflower —California, crates, $1.25®1,35. Tomatoes —Mexican lug*. *2.500 3.75. Onion market (50-lb sacks);. Western Valencias. $1 35 @1 lllinois yellow*. sOcftSl: Michigan WSSI

PAGE 12

SEARS, ROEBUCK OUTLINES 1936 AD CAMPAIGN Retail Merchandising Firm to Spend $9,500,000 in Newspapers. Time* Special CHICAGO, Feb. 19.—Sears, Roebuck & Cos. will spend approximately $9,500,000 for newspaper advertising in 1936, Gen. R. E. Wood, president, announced today in making public the company's jubilee plans. The jubilee program, considered thp most comprehensive promotional and merchandising demonstration ever undertaken by the company, to lvach its goal will involve an increase of about $60,000,000 in merchandise purchases, and a gain of approximately $7,000,000 in the company's pay roll expenditures. The advertising campaign, which will include 851 newspapers in -14 states, grew out of the company's experiments with almost every type of selling medium since the opening of its retail stores 11 years ago, according to G. W. Cunningham, advertising manager. “Results have demonstrated to us that the newspaper is by far the most effective medium for the promotion of our retail sales,” Mr. Cunningham said. Merchandising purchases by the company in 1936 will be made from 6000 industries located in 1600 cities and towns and raw materials used in the merchandise will come from all 48 states, the report stated. The jubilee celebration, which is to run through the entire year of 1936, will mark the fiftieth anniversary of the firm’s founding in 1886 by Richard W. Sears.

FORECASTS INCREASE IN FURNITURE TRADE January Attendance Breaks All Records at Mart. Timea Special CHICAGO, Feb. 19.—With the January attendance of wholesale j furniture buyers breaking all ! monthly registration records at I the Merchandise Mart, Reed, general manager, today forecast that 1936 would produce even a greater sales gain for the industry than the 1928 per cent increase shown in 1935. Counting in registrations for the record-breaking ensemble home furnishings market which ran from Jan. 6 to 18, a total so 9493 buyers were registered in the furniture division for January. This does not include buyers of other types of merchandise, except those of related home furnishings during the market period. The January total is 33.4 percent greater than that for the similar market period of July, 1935, and 64 per cent ahead of the same month in 1935. “Furniture exhibitors are receiving more confirmations of orders placed during the market than ever before, and a much lower percentage of cancellations,” Mr. Reed said. “There has been less of a post-market slump in buyer activity than we have noticed in any of the last four years.” GOODYEAR NET INCOME UP SHARPLY IN 1935 Tire and Rubber Firm Reports Increase of $1,000,000. 2’ime* Special CHICAGO Feb. 19.—Consolidated net income of the Goodyear Tire & Rubber Cos. amounted to $5,452,240 during 1935, compared with a total of $4,287,684 in the preceding year, an increase of $1,000,000, according to the year-end report released today. A dividend of 18 cents w’as paid on common stock in 1935 and earnings on the preferred stock amounted to $9 a share, compared with $5.89 in 1934. Net sales in 1935 totaled $164,863,974 against $136,800,764 in 1934. Dollar sales in the past year were the largest since 1930 when volume aggregated $204,063,229. An improvement in current position was also indicated at the close of 1935. INSURANCE SALES SPURT Timea Special MINNEAPOLIS. Feb. 19. —The Northwestern National Life Insurance Cos.. Minneapolis, today reported January sales at $6,890,779, exceeding the previous January record in 1934 by 53 per cent, and the January, 1935. total by 74 per cent.

Busigraphs

RAYON PRODUCED IN THE UNITED STATE* (TEXTILE WORLD) 30CN I PI 0 200 PHT!! _ x 2 s m U DjiLni 1 1l l 5- -i -i;-r -r 1 * n i : II villi U U lill llil llil W 9 1930 1931 1932 1933 193* 1935 rne PARK£ CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS

The development of rayon is a story of the triumph of chemistry. The rapid increase in its production now gives it a leading part in the textile field. Production of rayon in this country last year Jumped 19 per cent over 1934. The United States is still the leading rayon producing country, accounting for one-quarter of the world's output. Japan is a close second, and if sire continues the spectacular gains made last year may soon up-wiUa us,

Abreast of The Times on Finance

building costs C£COAT>Af/Cssr ' 4rrsrrc&r^ 110 i 11 1 11 1 )r i i"T|" T I r 11 1 11 1 i’l r|l | 1 1110I 110 - Ibu/lp/atg wages 1 °° o I I 100 %“■ o “ total building G§£f222l loc \. | / COSTS j 90 1 I\\ 1 yV[ (9° HV, 'v ° ./ SwSiSxM, 80 ————\ \ rv|""' c o ou/y 0 u/y \ 8 *° CQ7/TMOJOITY'T r RJC r ” J2VPJSX B.JL.S.r-— 1 |\. I 60 ■■ 1 11i11 ’I I1 1928 1929 1930 1931 1932 1933 1934 1935 1936

The above chart traces the relationship of various elements in the construction industry over a period of years. It reveals a tendency on the part of material costs toward lower levels, at the same time showing that wages in the industry haver been well maintained.

New York Stock Exchange Prices

(By Thomson A McKinnon) i 11:15 A. M. Prev. Oils.— High. Low. N. Y. Close. Amerada 83'4 83% 83% 83 Vi Atl Rfg 33'/* 33V* 33Vs 33 Barnsdall 17 16% 17 17 Consol Oil 13% 13% 13 3 4 13% Cont of Del 35% 35, 35% 35% Houston (new).. 10'/a 10% 10% 10V4 Mid Cont Pet .. 20% 20V* 20% 19% Ohio Oil 15% 15% 15% 15% Pet Corp 16% lS'/a 16% 16V4 Phillips Pet 43% 43% 43% 43% Plymouth Oil 14 13% 14 14 Pure Oil 19% 19% 19 3 4 20 Seaboard Oil .. 36 85% 35% 35% Shell Un 18% 18V, 18% 17% Soc Vac 15% 15% 15% 15% S O of Cal 45 45 45 45 S O of Ind 37% 37% 37% 37% S O of N J 59Va 59% 59% 59 Texas Corp .. 33% 33% 33% 33% Tidewater Assn 18% 18% 18 % 18% Un Oil of Cal... 27% 27% 27V, 27 Steel*— Am Roll Mills . . 33% 33% 33% 33% Beth Steel 59% 59% 59% 59% Bvers A M 24% 24% 24% 24% Cruc Steel 41 41 41 40% Inland Steel ... 111% 111 Vi lll'/z 111% Ludlum Steel •. 35 34% 35 34V, McKeesport Tin 110 109% 109% 109% Mid Steel 28% 28% 23% 28% Natl Steel 73% 72V* 72% ' 72 Otis Steel . . . 20% 20% 20% 19 % Rep Iron A Steel 26% 26% 26% 26% Rep Ir ASt pfd 98% 98% 98% 96% U S Pipe & Fdy 36% 36% 36% 37% U S steel . . .. 65 64% 64% 65 U S Steel pfd .130 130 130 130 Warren Bros 6% 6% 6% 6% Warren P A Fdy 28% 27% 27% 28V, Youngtn S & T.. 5414 54% 54'/, 53% Motors— Auburn 50% 48% 49'4 48% Chrysler 97 96% 96% 95% Gen Motors .... 60V, 59% 60 59% Graham Mot .... 4% 4% 4VI 4 Hudson 17% 16% 17 16% Hupp 3% 2% 3Vi 2% Nash 19% 19'/, 19 Va 19 Packard 12% 12% 12% 12 Reo 7% 7% 7% 7% Studebaker ... 11% 11% 11% 11'4 Yellow Truck ... 15Vi 15 15'/, 15'/, Motor Access— Bendix 26% 26% 26% 26% Bohn Alum 57% 57'/, 57% 57 V, i Borg Warner 76 76 76 75% 1 Briggs 60 59'4 60 59’/a Budd Mfg 11‘4 11% 11'4 11V* Budd Wheel .... 13 13 13 12% Eaton Mfg ... 31% 31% 31% 30% Elec Auto Lite.. 44% 43% 43% 42% Greyhound iB).. 77 76% 76% 75% Houdaille 29% 29% 29% 29% Murray Body ... 21 Va 21 21 20% Stew Warner ... 21% 21% 21% 21V, Timken Roll 72% 73Vi 72V, 72% Timken Det Axle 17% 17% 17% 17V* Minin* — Alaska Jun 15% 15% 15% 15% Am Metals 34% 34 % 34% 34% Amer Smelt 69% 69% 69% 68% Anaconda ..... 36% 35% 35% 35% Cal & Hecla 8% 8% 8% 8% Cerro de Pasco. 58% 53% 53% 53% Dome Mines .... 49 43% 48% 49 Granbv 10% 10% 10% 10'4 Gt Nor Ore 20% 20 20 20 Ins Copper 9% 9% 9% 9V4 Int Nickel 54'% 53% 54% 53 Kennecott Cop • 38% 38% 38% 36 Mclntyre Mine • 45V, 45 45V, 45'/, Park Utah .... 4% 4% 4% 4% Phelps Dodge ... 37% 37 37% 36% St Joe Lead . . 29 29 29 29 U S Smelters . 93 91% 91% 92% Vanadium 27% 26% 26V, 26% Amusements — Crosley Radio .. 17% 17% 17% 17% Loews Inc 51’, 51% 51% 52% Radio Corp 12% 12% 12% 12% Paramount 11% 11% 11% ll's RKO 8% 8% 8% 8% Warner Bros ... 14% 14% 14% 14% Tobaccos— Am Sum Tob 24 24 24 24% Lig A Myers 'B’.llo>* 110% 110% 110% Loyillard 23% 23% 23% 23% Reynolds Tob 'B' 58 Vi 58% 58 V, 58 Rails— Atchison 76% 75% 76 75% Atl Coast Lines. 34% 33% 33% 33% B& O 22% 22% 22% 21% Can Pacific 16 15% 15% 14 ,i Ch A Ohio 81 60% 60% 60% Chi & Gt W 2% 2% 2% 2% Chi AGt W pfd. 7 7 7 7 C M A St P . 2% 2% 2% 2% CM A St P pfd. 5% SV 5Vi 5V* Chi N W 4Vi 4V 4% 4% Dela & Hud 49% 49 49% 48% Del Lac A W ... 20% 19% 20 V, 1?'/, Erie *... 16 V, 15% 16% 15% Gt North pfd .. 42V* 41% 42% 41,, 111 Central 28% 27% 28% 27/, K C Sou 22 21 22 20% Lehigh Valley ... 11% 11% 11% 11 M K A T 8% 8% 8% 8% Mo Pac .... 3% 3% 3% 3% Mo Pac pfd ..7 7 7 7 N Y Cent 40Vi 39% 40% 39 N Y Hew Haven 5% 5% 0% 5Vi Nor Pacific ... . 33%33 1 ., 33% 33 n Penn R R 32 V* 36% 37 37 Sou Pac 38% 37% 37% 37 Sou RR. 19% 19% 19% 19 Union Pac ....130 129*/* 130 126% Wabash 4 4 4 4 W Maryland ... 11% 11 11% H Equipments— Am Brk Shoe.. 50 49% 50 50 Am C A Fdy-.. 39% 38% 38% 38% Am Loco .... 33% 33 33% 32% Am Steel Fdy .. 33% 32% 33% 32% Bald Loco 6% 6% 6% 6% Gen Am Tk Car 41 s , 41% 41% 41% Gen R R Sig ... 48% 48 48% 47 Pullman Inc .. 47% 47 47% 46% Westingh Elec... 8 7% 8 7% Utilities— Am For Pwr ... 8 7% 8 7”, Am Pwr A Lit.. B’* 8% 8% 8% AT&T ...17e% 174% 176% 174 Am Wat Wkf. 21% 21% 21% 22% : Col Gas & Elec 16% 16% 16% 16% Comm & Sou . 3% 3% 3% 3% Elec Pwr A Lit-. 9% 8% 8% 8% Int Hydro Elec . 4% 4 4 4°, Interboro R T . 17*, 17% 17% 17% Int T & T . ... 18% 18% 18% 18% Lou GAEA. 21% 21% 21% 21 Nat Pwi A- Lit . 10% 10% 10% 10% North Amer ... 27% 27', 27% 27% j Pac GA- E 33% 33 s , 33 s , 33% I Pub Serv N J . 45% 45% 45% 45% ’ Std Gas . 7% 7 s , 7% 7% i Stone A- Webster 16% 15% 16% 16% United Corp ... 7 7 7 7% Un Gas Imp 17% 17% 17% 17% Ut Pwr *lt A 4% 4% 4% 5 Western Union . 94 93% 94 92% Rubbers—j Ftrestone 30% 30% 30% 30% Goodrich 20 20 20 Goodvear 29% 28% 28% 28% U S Rubber . 20% 20% 20% 20% jU S Rubber pfd. 61% 61% 61% 61 s * Miscellaneous— Allis Chalmers . 45% 45% 45% 45% :Am Can .... 121% 120% 121% 120% jAm Mach A Fdy 26% 26% 26% 26% Brklvn Man Tr . 45% 45% 45% 46 Burroughs Add . 32% 32 32 32% J I Case 116 116 116 115 Conti Can . 79% 79% 79% 79% Caterpillar Tract 70% 70 70% 70 Curtis Pub 20% 20 20'* 20% Deere &Cos 71% 71% 71% 71 Eastman Kodak 161% 161% 161% 161 Foster Wheeler.. 37% 37 s , 37% 37 Gillette 17% 17% 17% 17% Glidden 50% 50 50% 50% Inter Harr .... 68% 68% 68% 67% Natl Cash Reg . 28 s , 28% 28% 28% Owens Bottle ...148 14,1 148 148% Rem Rand . • 23% 23% 23% 23% Worthingt'n P-. 33% 33% 33% 32% Foods—lAm Sugar 54% 54% 54% 53% Armour 6% 6% 6’, 8% Borden Prod . 28% 28% 28 s * 28% ! Canada D G Ale 13% 13% 13% IS 3 * Coca Cola . 95% 95 05% 95 s * : Cont Bak ‘A’. .. 13% 13% 13 s , 13% . Corn *rod . 74’, 74 5 , 74% 73% Cubai Am Sus 11% 11% 11% 11 Gen Voods . 33’, 33% 33’, 33% Gold Dust 19% 19 19 19 s , iO W Sugar 34% 34% tf4% 34% 1 Hershev 78 78 78 78% .Natl Biscuit ... 34% 34% 34% 34% Natl D Prod ... 22% 22% 22% 22% I Purity Bak .... 15 15 15 15% United Fruti . .7414 74*4 74% 74% Retail Stare*— Allied Store* ... 7 s , 7% 7 s , 7% Asad D Goods 15** 15% 15% 15 Best A Cos 51 51 51 11% Gimbel Bros ... 7% 7% 6% /■* 1 Gm Un Tea ..... 4% 4’, 4% 4% Jewel Tea 74% 74% 74% 74 Kreage 8 S 24% 24% 24% 24 s , Kroger Gr* ... 36% 2s** 26% 36% McCrorv S’ .... 1* U 14, 14V* MeLelian St . .. 13% V% 13% 13% AUilteU 14% UW

WEDNESDAY, FEBRUARY 19, 1936

■Mont Ward 39% 38% 39*4 39 Pennev J C 72% 72% 72% 72% Sears-Roebuck. . 64% 64% 64V* 63 Woolworth 54 V, 53% 54 54 Aviation— Aviation Corp.. 6*4 6% 6% 6*4 Boeing Aircft 25% 25V, 25*/2 25 Curtiss Wright • 6% 6V* 6V* 574 Curtiss Wright A 17% 17 s , 177> 17% Douglas Air .... 73% 73 V, 73 V, 73 * a Nor Am Av .... 8% 8 BVa 8 Sperry Corp 227, 22% 22% , 2174 United Air'ft N. 32 31% 31% 32V, Chemicals— Allied Chem 167% 166'/* 167% 165 N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Ins. Rails. Util. Bonds. Today 93,1 94,4 105.0 97.5 Yesterday 93.3 94.5 105 2 97.7 Week age 93.1 93.5 105.5 97.4 Month ago 92.6 88.9 104.9 S5-.5 Year ago' 87.0 83.6 94.1 88.2 1936 high 93.3 94.6 105.5 97.8 1936 low 91.6 84.7 103.5 93.3 U. S. GOVERNMENT BONDS Treasury* Prev. Close. close. 474s 1947-52 115.31 116 4s 1944-54 111.29 111.26 3*4s 1946-56 109.28 109.26 3 3 ,s 1940-43 108 .107.9 3%s 1943-47 ...107.10 108.18 374 S 1943-45 106.22 108.18 374 s 1941 108.17 106.10 3%s 12944-46 106.9 104.20 3%s 1946-49 104.16 104.14 3%s 1949-52 104.18 103.18 3s 1951-55 103.20 103.27 3s 1946-48 104 100.25 274s 1955-60 100.27 101.27 27, s 1945-47 101.30 100.15 Home Owners Loan Corp. 274s 1949 100.15 103.2 Federal Farm Mortgage Corp. 3s 1949 101.27 101.23 3s 1942-49 102.16 102.18 2%s 1947 100.31 101 DOMESTIC Prev Close. close. Alleg Corp 5s ’44 97 96% Alleg Corp 5s '49 94*4 94 V* Alleg Corp 5s 'SO 79 79 Am Frgn Pow 5s 2030 80 3 / 81% Am Tel A Tel sVis '43 115% 114 Am Tel & Tel 5s '65 115% 113% Arm & Cos (Del) 5%s ’43 97 97 Atl Coast Line 4s '52 99*4 99% Atl Coast Line 4%s '64 . . 87 86% Atch Top A S Fe 4%s ’48.. .113 112% Am Wat Wks 5s '44 109% 110% Am Rolling Mills 5s ’3B 133 129% Balt A Ohio 5s ’95 88’, 38 Balt A Ohio 6s ’95 96 96 Balt A Ohio 4%s '6O 78 76% Buff Roch A Pitt 4%s ’57 83 82 *4 Beth Steel 5s ’36 106 105 v, Chi Milw AStP 5s '75 24% 23% Chi Milw A St P 5s 2000 9V* 9 C'leve Un Term 5s ’73 105 104’, Oleve Un Term 4Vis ’77 99* 2 99% Col Gas 5s May '52 101 101% Col Gas 5s April ’52 101*4 101% Col Gas 5s 61 100 V, 101 Can Pac Perp 4s 94 94'.. Cent Pac 5s '6O 98 Vi 98% Big Four 4Vis ’77 92V, 93 Big Four -5s ’63 100 99*2 Colorado A So 4%s 'BO 80V, 80% Chi A West Ind 4s '52 104 104 Chi A Nor West 4%s ’49 15% 15% Con Gas 5s ’57 105% 105% Chesa Corp 5s ’47 1357s 133% Del A Huds 4s '43 87% 87** N Y Dock 5s '3B 74*2 • 75 Erie 5s ’75 84% 84 Erie 5s ’67 84% 34'/* Gen Cable 5%s ’47 104 104 Grt Northern 7s '36 102% 102*2 Grt Northern 4%s '76 102% 103 Grt Northern 4%s ’77 . 102% 102% Gen Stl Cast WW 5%s ’49 ... 95V* 96% Hud A Manhat Ref 5s '57 ... 88 87% 111 Cent Jt 4Vis '63 83% 84% 111 Cent 5s '63 86 89 V* Interlake C A I 5s ’sl 91 96% Interntl Hy Elec 6s '44 96 49% Interntl Tel A Tel 5s ’55 99% 95% Interntl Tel A Tel 4%s "52 .. 90 s , 91 P Lorillard 7s '44 132% 132% McKess A Rob 5%s 50 103% 103% Natl Dairy 5Vs '4B 103% 103 Va Natl Steel 5s '56 106'% 106% Nickel Plate 4%s '7B 86 86 Nickel Plate 5%s '74 97 96% N Y Cent 5s 2013 95% 95 N Y Cent 4%s 2013 (old) 89*2 88% Nor Amer C o is '6l 105'3 105% Nor Pac 3s 2047 79 78% Nor Pac 4'2S 2047 101'* 100’, Nor Pac 6s 2047 110 HO Nor States Pow 5s ’4l 105% 105% New Orleans Term 4s ’53 92 92 Penn Ry 4%s 'B4 108% 108*% Penn Ry 4%s *Bl 108% 108% Penn Rv 4%s '7O 102% 102% Pac G A E 5s ’42 10 1037, Portland Gen El 4%s ’6O 75% 78 Para Publix s’is 'SO 94% 95 Penn PAL 4%s ’Bl 107 106% Postal Tel A Cab 5s '53 39% 39% Rem Rand WW 5%s ’47 113 113 Shell Union Oil 5s ’47 90% 102% Sou Pac 4*is '6B 90 90% Sou Pac 4Vis 'Bl 90Vi 89 Sou Pac 4 Vis '69 91 90*1 Sou Pac 4s 49 91 91% Sou Rail 4s ’56 67 66 Sou Rail 6s 56 83 83 Sou Rail 6'is ’56 86% 86% Sharon Stl Hoop 5%s '4B 103% 103% Texas Pac 5s 'BO 102** 102 Texas Pac 5s ’79 102% 102*4 Texas Pac 5s ’77 102 102 Union Pac 4s '47 112% 112 s , United Drug 5s '53 101% 101 U S Rubber os '47 105 104% NT NH A Hart 6s '4B 59% 39*2 NY NH A Hart 4%s '67 38% 38% 1 Warner Bros 6s '39 97% 97% 1 Western Marv 5%s '77 107'* 107% • Western Marv 4s '52 99% 99% | Youngstown 8A T 5s '7O 105% 105% Youngstown S A T 5s '7B ...105V* 105*, FOREIGN Argentina (A 1 6s '57 98 98% Argentine 'B I 6s 'SB 96% 97% ; Brazil 8? '4l 32% 32% Canadian Govt 4s '6O .108 108*, Denmark 5%s '55 101% 100 German 5%s '65 28*2 28% German 7s '49 37% 37% Italv 7s 'sl 66V* 65 ! * Japan 6%s '54 99 98% Poland 7s '47 107 106% Rome 6%s '52 59% 58% Tokio City 5%s '6l 82% 82% Yokohama 6s '6l 86'* 87 Local Securities The following quotations do not represent actual bids or offerings, bul merely indicate the approximate marke< level on buying and selling inquiries 01 recent transactions. BONDS Bid, Ask. H Tel A Tel. Ft. Wayne s*i% 104 105 H Tel A Tel. Ft. Wayne 6% 103 106 Indianapolis Railways. Inc 5% 68% 71 % Indianapolis Water Cos 4%%. 105 107 Indianapolis Water Cos 5% ...105 107 Indianapolis Water Cos 5%...105 107 Indianapolis Water Cos 5%%.. 104 105': Indianapolis Water Cos 5%%. 104 105% Interstate Tel A Tel 5%%... 95 97 Kokomo Water Works 5% .. 104*4 105 3 < Morris 5 A 10 Stores 5% 100 103 Muncie Water Works 5% 103 Noblesville Heat, Light A Pow 97* 3 100 Ohio Telephone Service 5%... 97% Richmond Water Works 5%-. 104'% 106 Seymour Water Cos 5% 101 104 T H Traction A Light 5% . 103 105 Terre Haute Water Works S’"- 102 104 Terre Haute Water Works 6% 103 105 Traction Terminal Cos 5% 77 80 STOCKS Belt Railroad A S Y com 53 55 Belt Rail A Stock Yd pfd 6% 52% . Central Indiana Pow pref 7% 23*2 26*: Home Tel A T Ft. Wayne 7% 52% 54% Hook Drugs, Inc common 16*2 18 Ind A Mich Elec Cos prd 7% 103*, 105\ Indiana Central Service Cos 6% 98 100*: Ind Hydro Elec Cos 7', 62 65 Indpls Gas Cos com 6% . . .. S5 38 Indpls Pow A Lt Cos pfd 6% . 90 93 Indpls Pow A Lt Cos pfd 6%% 96 98 Indianapolis Wa Cv pier 5% 103% 106% North Ind Publ Serv pfd 5*70% *74'. North Ind Pub Sc-rv pfd 8”. 77* 2 80 *, North Ind Publ Serv pref 7% 87 90 Proareu Laundry Cos com... 9 10 % Public Ser:- Cos of lad pfd 6% 25 28 Public Serv Cos of Ind pfd 51% 53!j South Int Gas A Elec pfd 6% 97*4 100 ! i Terre Hay.e Elec Com #%... M 90V; - Oman.- zui . Comß*navOfurv. ,* ae Va ai

Am Com Alcohol 29V* 28% 29*4 28 s , Com Solvents... 23% 23 * * 23% 22% 1 Du Pont 149 149 149 149 Freeport Tex ... 34% 34*4 34'/* 34 Liquid Carb 37% 37% 37% 38 Math Alkali ... 36% 36 36% 35% Monsanto Chem . 85% 95% 95% 95% Natl Dis (new). 29% 29-% 29% 29'/, Schenlev Dist . 47% 47V* 47'/* 46% Tex Gulf Sulph 38 33 38 37% Union Carbide . 85 84*4 85 -84% U S Indus Alco 40% 40% 40% 40*4 Drugs— Cotv Inc 8% 6% 6'4 6*4 Lambert 24% 24’4 24% 23% Lehn A Fink ... 13% 13% 13% 15% Vick Chem 44V4 44% 44% 44 Financial Adams Exp .... 13% 13% 13% 13'4 Allegheny Corp. 4*2 4% 4% 4% Am Int Corp .. 12% 12% 12% 12V, Lehman Corp .. . 98% 98*2 98’/, 98% Transamerica ... 13*/4 13V, 13V, 13V, Building— Am Radiator .. 24% 24% 24% 24% Gen Asphalt ...33 33 33 33 Holland Furnace 43% 43% 43% 43'4 Int Cement ... 44% 43% 44% 4314 Johns Manville 133 Va 123 123'- 123% Libbv Owens Gls 58 58 58 57% Otis Elev 29 28% 29 27% Household — Congoleum Mohawk Carpet 27% 27% 27% 27*2 Proc A Gamble 46% 46% 46% 46* j Servel Inc . .. 19 19 19 19% Simmons Bed... 25 25 25 24% Textiles— Amer Woolens.. 10% 10V, 10*4 10'/* Belding Hem .... 15% 15% 15% 15% Celanese Corp .. 28% 28% 28% 28% Collins Aikman . 49% 49% 49% 49 Indus Rayon ... 30 s , 30 30% 29% Kayser Julius .. 32% 32% 32% 32% Chicago Stocks (By Abbott, Proctor A Paine) 11:00 Prev. A. M. close. Berghof 9V* 8% Butler Bros 8% 8% Chicago Corp 5% 5% Cities Service 5% 5% Com Edison 105 105'/* Conti Steel 43% 43V, Cord ..> 6% 6% Crane 28V* 27% Elec House 16V* 16'% Grt Lakes Dredge 31 31 lorn Fireman 29% 29 Nobblitt Sparks 34 33% Quaker Oats 134% 135 Swift International 33 33 Zenith 16% 16 New York Curb (By Abbott, Proctor A Paine) 11:30 a.m. Prev. N. Y. close. Alumn Cos of Am 116 110 Am Cyanide 18 1 40% 39V, Am Gas and Elec 41 Am Superpower 2% 2% Carrier Corp 11% 11% Elec Bond and Share 17% 17% Fisk Rubber 8% 8% Ford of Can (A) 26 s /, 26 Ford of Europe 8% 8% Imperial Oil Ltd 23% 23% Lake Shore Min 57% 57 % Nia Hud Pwr 9% 9% Pan Amer Airways 5% 5 Unlisted Stocks (By Blyth A Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers' 64% 66% Central Hanover BAT 116*4 11 <% Chase ... 29V* 30V, Chemical National 55% 57V, Guaranty 297 30014 Irving 16% 18% Manufacturers 44% 46% National City 36 37% Cont 111 Chicago ... 167 170V* First National Boston 48% 50V, National Shawmut 28 Vs 30'/* FIRE INSURANCE Aetna Fire 59% 62 American Ins of Newark 17% 19 V, Baltimore American 9% 11 City of New York 31 33V* Federal Ins 110 11514 Franklin Fire 33** 35 Great American Ins 33% 35',* Hanover Fire Ins 39% 42 Hartford Fire Ins 87 89 V* Home Ins 38 39% National Fire 84'/* 86% Ir.s Cos of A 81 % 83% National Liberty 104 124 North River Ins 29% 31V* Phoenix 100% 10314 U S Fire 50 61 Westchester Fire 40 42 Investment Trusts (By Thomas D. Sheerin A Cos.) Bid. Ask. Administered Fund 2d $16.99 $18.07 Affiliated (Fund. Inc. 1.91 2.09 American General Equities.. 1.10 1.13 •American Business Shares. .. 1.19 1.29 Bullock Fund Ltd 17.80 19.18 Century Shares Trust 29.00 . •Collateral Tr. Shares “A” . 6.54 6.62 Corp •'AA” or “Accum.” (mod) 3.26 329 Corp ''A" or “ACC.” lunmod.) 2.60 2.63 Corp Trust Shares (orig.) ' 2.81 2.85 Diversified Trustee Shrs “B'’ 10.74 10.84 Diversified Trustee Shrs “C“ 4.52 4.56 Diversified Trustee Shrs “D” 6.70 6.78 Dividend Shares. Inc 1.65 1.79 Incorporated Investors 22.55 24.25 Investors Fund Amer 1.08 1.18 Market Street Invest Corp. . 31.95 33.62 Maryland Fund ' 19 25 20.81 Massachusetts Investors ..... 25.52 27.74 Nation-Wide Sec Cos ’ B” 4.70 Nation-Wide Voting 1.71 1.88 North American Tr Sh 1955 . 3.31 3.34 North American Tr Sh 1956 . 3.27 3.30 North American Tr Sh (orig.) 2.62 ... Quarterly Income Shares 158 1.80 Representative Trust Shares. 12.45 12.60 Selected Amer Shares. Ine. .. 1.59 1.74 Selected Amer Shares iorig.).. 3.61 ... . Selected Cumulative Shares.. 9.22 932 Selected Income Shares 4.89 4 99 State Street Invest Coro . 97.25 101.75 Super-Corp of America “AA" 2 77 2.80 ! -Super-Corp of America ' BB“ 2.79 283 ! Super-Corp of America "A”... 4.09 4.14 Super-Corp of America “B’’ 4.30 4.35 Super-Corp of Am “C” % “D“ 7.96 8.04 Supervised Shrs. Inc (Dela) . 1.67 1.83 Trustee Stand Oil Shrs "V 7.53 763 •Trustee Stand Oil Shrs ‘ B'’ 6.59 669 Trustee Stand Invest •C” ... 2.97 300 Trustee Stand Invest *'D’.... 290 2.94 Universal Trust Shrs 4 16 Uselps "A” 19.15 19.50 Uselps ‘ B'' 2.95 Uselps Voting 1.14 •Ex-Dividend. Money and Exchange TREASURY STATEMENT (By United Press) WASHINGTON. Feb. 19.—Government expenses and receipts for the current fiscal year to Feb. 17. compared with a year ago: This Year. Last Year. Expenses *4.583.647.787 46 *4.345.530.977.46 Receipts . 2.2&8.647.311.06 2 193.420.849.45 Deficit . 2.325.000.476.40 2.152.110.128.01 Cash. bal.. 1.839.326.972.53 2,153,551.105.17 Chicago Grain Futures (Bv James E. Bennett A Cos.) 11:00 Prev. Wheat- High. Low. A. M. close. Mav 99 .97’, .96% .97 s , Julv 89% .88 s , .89% .88% Sept 88% .88 .88* 1 .83% Corn— Mav 62 .61 % .61 % .61% Julv 62 .81% .62 .61% Sept 62 .61% .61% .61% Oats— May 29% .29'* .29% .29 % Julv 28% .28* 1 .28% .28*7 Sept. 28 s , .28% .28% .28% RyeMay 58*4 .57% .58% ,57 s * Julv 56 5 , .56*2 .56*, .56 5 , Sept 56% .56% 5% .56 CAR LOADINGS HIGHER CHICAGO, Feb. 19. —Cars loaded on Canadian lines numbered 41,567 during the week ended Feb. 8, compared with 39.501 in the preceding j week and the correspond-

CHILD LABOR IS FEARED AFTER COURTRULINGS Studies Indicate Children Returning to Many Factories. Time Special WASHINGTON, Feb. 19.—The results Os the Supreme Court's AAA and NRA decisions are worrying child labor opponents. The Schechter decision scrapped j the NRA codes, which had barred children under 16 from factory work. The Hoosac decision removed the protection of AAA’s sugar beet con- j tracts, reopening the way to child labor in the beet fields of the West. ! Senator Costigan (D., Colo.) is seek- ! ing a way to re-enact his amendment to the AAA act, providing for child labor abatement in this industry. Studies by the National Child Labor Committee indicate that since the Schechter decision children are ; returning to many factories. Writ- [ ing in the magazine of the General j Federation of Women’s Clubs, Mrs, | Henry Morgenthau warns that with recovery child labor is almost certain to return unless national safeguards are applied. Drifting Backward “The new drift back toward child labor since the abrogation of the j codes is clear,” she writes, “and can not be ignored without peril—peril i alike to childhood and to society as a whole.” Without the codes, she warns, children of 14 and 15 may toil in certain states, and in 27 states chili dren 12 years old and younger are permitted to work. Seven states permit children to work as long as 51 to 60 hours. The Childrep's Bureau points out in anew pafnphlet that between 1929 and 1934 the exployment of 14 and 15-year-old children, as indicated by reporting states and cities, dropped from 100,000 to 11,000. Urges New Laws “During a period of nearly two years, until the code feature NIRA was declared unconstitutional,” the report says, “the employment of children practically disappeared from manufacturing and trade. Now, because of the Supreme Court decision in the Schechter case, there is no longer a national minimum standard. Whether these gains can be kept, with only the uneven protection of state laws, is a serious question.” The report shows that only three states—Pennsylvania, New York and Connecticut—this year raised their child labor standards to those of the NRA. The child labor amendment to the Constitution, submitted in 1924, still lacks 12 of the necessary 36 ratifications. Other Livestock (By United Press) CHICAGO. Feb. 19.—Hogs—Receipts. 13.000. including 3000 directs: slow; 15@25c lower than Tuesday’s average: underweights off .more in instances; top. $11: bulk. 180-250 lbs.. $lO 80® 10.95; 260-310 lbs. mostlv $10.70(5 10.85: better grade 140160 lbs., [email protected]: best sows, $lO. Cattle—Receipts. 7000; calves, 1000; very dull steer market on early rounds: steady to 25c lower: Stocker ana feeder trade dull: beef cows under pressure: cutter and common quality fat offerings about steady; bulls fully steady; vealers in line with Tuesday’s 50-cent downturn: mostly $10.50 (§.11.50; few Sl2: largely steer run. Sheep —Receipts, 7000; fat lambs slightly uneven; bulk around steady; quality and weight considered; closing trade less active than early: good and choice fed lambs. $9.75% 10: top, $10.15 on choice 88 to 90-lb. weights to shippers; sheep firm; bulk ewes comprised choice around 122-lb. fed westerns at $5.35. FORT WAYNE. Ind.. Feb. 19.—Hogs—--160-180 lbs., $11; 180-200 lbs., $10.90; 200225 lbs.. $10.80; 225-250 lbs., $10.65; 250275 lbs., $10.50; 275-300 lbs.. $10.35; 300350 lbs., $10.10; 140-160 lbs.. $10.60; 120140 lbs., $10.25; 100-120 lbs.. $10.10; roughs. $9; stages, $7.25; calves, sl2; lambs, $9.75. LAFAYETTE. Ind., Feb. 19,—Hog market steadv to 10c low-ar; 170-210 lbs.. $10.95® 11; 210-235 lbs.. slo.Bo® 10.90; 235-260 lbs.. • $10.55(010.70; 260*325 lbs.. slo® 10.40; 140170 lbs., $10.25® 10.50; 100-140 lbs., $9.50 @10; roughs, $9.50 down; calves, sll down; lambs, $lO down. (By Times Special) LOUISVILLE. Feb. 19.—Cattle—Receipts, 200; very few slaughter cattle on sale; demand dependable from most buying sources: market opening generally steady: bulk common to medium steers and heifers, [email protected]; common dairybred and offcolored kinds down to $5 or less; better finished dryfeds quotable to $8.50 or better: beef cows mostly ss@6; good kinds and smooth heifer types quotable to $6.50; most low cutters and cutters, $3,504(4.75; sausage bulls scarce, salable mostlv $5®6.50. according to weight and quality; light beef type Stockers and stock calves salable mostly s6® 8. Calves —Receipts, 150; market not fully established: indications about steady; generally bidding slo® 11 for good to choice vealers: few strictly choice, $11.50: bulks medium vealers, [email protected]; plainer sorts. $7.50 down. Hogs—Receipts. 600; market 15c lower; top and bulk better 160-225 lbs.. $11: 230-250 lbs.. $10.70; 255300 lbs.. $10.15; 305 lbs. up. $9.70; 120-155 lbs.. $9.90; sows. $3.95. Distillery mash fed hogs subject to a discount of $2 or more per cwt. Sheep—Receipts, 50; steady for all slaughter classes; most better native lambs. $94/9.50; choice quotable higher, piainer sorts, $6.50'&8.50; bulk fat ewes, $4 down. Produce Markets The prices quoted are paid for stock gathered in the country, while delivered in Indianapolis the price is a cent higher. Heavy breed hens. 18c; Leghorn breed 1 hens. 13c: Leghorn springers. 12c: old stags. 13c; old cocks. 9c. Ducks, white. 5 lbs. . and over, 11c; geese, full feathered, ail sizes. 10c: all guineas. 1% lbs. and up. 15c; No. 1 strictlv fresh eggs, loss off. 28®29c. j Each full case must weigh 65 lbs gross, a deduction of 10 cents a pound under 55 lbs. will be made. No. 1 butter. 40%® 41%c: No. 2. 'Z’’ 1 2 t a,'ZZ'* c. Butterfat. 35c. Quoted by the Wadlev Cos. (By United Press) CHICAGO. Feb. 19.—Eggs—Market firm; receipts, 8832 cases; fresn graded firsts. 32c: extra firsts, 32c; current receipts-. 31c: dirties, 28c: checks, 25c. Butter —Market firm; receipts. 8403 tubs; extra firsts <9O- - score), 36%4/36%c; extras (92 score), 37c; firsts (88-89% score). 35%(§38c; specials. 37%@38c: standards, 36%c. Foultry— Market, steady: receipts one car. 12 rtucks, two caxs due: ducks. 19@23c; ?eese, 18c: sprtng chickens, 24@25c; hens. 8® 23c: turkeys, 20® 23c; capons, 25® 26c; broilers. 23%®25c. Dressed poultry— Turkeys, young hens, 26®_29c; capons. 27 @3oc. Cheese—Twins. 15'*@15%c; daisies, 154@15%c; Longhorns. 15%@16'c. Potatoes —Supply moderate; demand moderate: trading light because of cold weather: market irregular. Idaho P.usset 3urbanks. $1.90®2; U. S. No. 2. 51.40@l 55; Wisconsin round whites, *[email protected]: Colorado McClures. $1.60® 1.75; Nebraska Bliss Triumphs. *1.60451.65. Arrivals, 76; on track, 204: shipments, 460. SUGAR MELT DECLINES Bp t'nited Pren* WASHINGTON, Feb. 19. —Sugar melt of 13 United States refiners from Jan. 1 to Feb. 8 totaled 435.000 long tons, against 445,000 in the like period of 1935. Deliveries totaled 330.000 long tons, against 365,000 in 1935.

BUY A HOME WITH A LOAN FROM A LOCAL. Building & Loan,Sun.

~ Wholesale Auto Financing Up Wholesale automobile financing in December totaled $151,382,330, the highest for any month since April, 1935, according to the Department of Commerce. November volume teas $136,160,556.

New Business Books Available at Library The following new business books are now available at the business branch of the Indianapolis Public Library: ON QUANTITATIVE THINKING IN ECONOMICS, by Gustav Ca*sel—ln knowledge of actual facts, economic science has made wonderful progress during the last generation Theoretical exposition, however, has hardly kept pace with this progress. LIFE INSURANCE: A TEXTBOOK, by Solomon S. Huebner—A complete revision and a substantial enlargement of the previous edition of 1923 —"the events of the past twelve years have produced tremendous changes in life insurance along many lines." SOCIAL SECURITY. 1935 A record of the eighth National Conference on Social Security which contains a census of all social security in the United States. MANUAL OF INSTRUCTIONS FOR BURROUGHS CALCULATOR, com-, posed by Burroughs Adding Machine Cos. THOMAS’ REGISTER OF AMERICAN MANUFACTURERS. 1986. NATIONAL HANDBOOK OF AUSTRALIA’S INDUSTRIES, 193*.

PORKER PRICES REMAINSTEADY Cattle Strong to 25 Cents Higher; Veals, Lambs Unchanged. The swine market displayed a steady trading range today at the : Indianapolis Union Stockyards, de- ! spite indications of weakness near the close. Trading developed slowly | as buyers were hesitant in making early purchases. Total receipts were estimated at 5000, an increase of 2000 over the previous figures. This was attributed to more favorable w’eather conditions. enabling farmers to make shipments by truck. Competition was light among buyers, despite recent light receipts. Holdovers numbered 76. The general bulk of 160 to 225 pounds sold at $11.20 to $11.30. The latter also acted as the top price. Medium heavy grades, scaling 225 to 275 pounds, brought $10.70 to sll.lO, while extreme heavies, from 275 to 350 pounds, cashed in at $lO.lO to $10.50. Slaughter pigs, weighing 130 to 160 pounds, were salable at $lO 25 to $10.75. Packing sows held at $8.75 to $9.50. Trading was extremely active on all classes in the cattle market, and as a result prices were strong to largely 25 cents higher than yesterday. Steers, heifers and cow’s were mosly 15 cents higher, while better grade steers and bulls were up 25 cents. The bulk of steers sold at $8 dow’n. Top held at $9. Heifers ranged from $6 to $7.25. Receipts were 1000. Vealers again continued stationary. The bulk of good and choice grades sold at $11.50 to sl2. Receipts were 500. Lambs were steady and scarce, with the majority of the supply billed direct to local packers. The bulk held at $10.25. and slaughter sheep at, $3.25 to $5. Receipts numbered 500. HOGS F<?b. Bulk. Top. Receipts. 13. slo.Bo® 10.90 *10.90 2000 14. 11.15011.28 11.25 2000 15. 10.95011.15 11.15 2000 17. 10.95'® 11.05 11.10 6000 18. 11.20011.30 11.30 3000 19. [email protected] 11.30 5000 Light Lights. (140-160) Good and choice $10.25011.00 Medium 9.75010.50 (160-180) Good and choice.. 11.00 011.30 Medium 10.50® 11.10 (180-200) Good and choice.. 11.20® 11.30 Medium 10.70011.20 (200-220) Good and choice.. 11.20 011.30 (220-250) Good and choice.. [email protected] Heavyweights. (250-290) Good and choice.. 10.50011.00 (290-3501 Good and choice.. [email protected] Packing Sows. (275-350) Good 9.400 9.75 (350-425) Good 9.250 9.50 (425-550) Good 9.000 9.40 (275-350) Medium 8.75@ 9.25 Slaughter Pigs. (100-140) Good and choice . 9.50010.25 Medium 8.50® 9.75 CATTLE —Receipts, 1000 — (550-900) Choice $ 9.75011.00 Good 8.004/ 10.00 Medium 6.75® 8 25 Common 5.25® 6.75 (900-1100) Choice 10.25® 12.00 Good 8.50® 10.50 Medium 6.75® 8.50 Common 5.25® 6.75 (1100-1300) Choice 11.00® 12.00 Good 8.50® 11.00 Medium 7.004/ 8.50 (1300-1500) Choice [email protected] Good 8.50® 11.25 Heifers (500-750) Choice B.oo® 925 Good 7.00@ 8.00 Common and medium 4.50® 7.00 (150-909) Good and choice ... 7.00®! 950 Common and medium 5.00@ 7.00 Cows Choice 6.75® 7.50 Good 5.75® 6.75 Common and medium 5.00® 1 5.75 Low cutter and cutter 3.50® 5 00 Bulls, good 6.50® 7.25 Cutter, com. and med. bulls .. 2.50® 650 VEALERS —Receipts, 500— Good and Choice $11.50®Y2.00 Medium 9.00® 11.50 Cull and common [email protected] Calve* (250-500' Good and choice.. 7 00® 10.00 Common and medium 4.50® 7.00 Feeder and Stocker Cattle (500-800) Good and choice .. 6 75® 7.78 Common Bnd medium 5 00® 6.75 (300-1050i Good and choice .. 6.75® 775 Common and medium 5.00® 6.75 Cowa Good 4 50® 5.00 Common and medium 4.00@ 4.50 SHEEP AND LAMBS —Receipt*, 500Lambs, 90-lbs. down, good and choice slo.oo® 10 25 Good 9 75® 10 00 Medium 8.75®. 9.75 Common 7.00® 8.75 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® 9.00 LOCAL CAS!! MARKET City grain elevators are paying 92 cents for No. 2 aoft wheat. Other grades on their merit* Cash corn new No. 4 vellow 50 cents and oats 21 cents.

INCORPORATED INVESTORS —an investment in common stock*— Founded 192S in Boston, Mass. Prospectus, latest quarterly report and other information available at our office Indianapolis Bond and Sharo Corporation 129 L Market St. Indianapolis Riley 4551

ASKS EXTENSION OF DEADLINE ON HOLCFINANCNG Officials Resist Efforts to Continue Lending Program. Tintci Special WASHINGTON, Feb. 19.—Efforts to extend Federal refinancing of urban homes beyond the present deadline, June 13, were resisted today by officials administering the vast lending program. Loans totaling nearly $3,000,000,000 have met the foreclosure emergency and enabled private hornpfinancing institutions to resume normal activities, officials of the Home Owners Loan Corp. said. A bill to continue lending for another year has been introduced by Rep. Dingell <D., Mich ), who contends that a prospective surplus of $1,250,000,000 in HOLC credit should be put to use. The surplus, which is not in money but in authority to issue government guaranteed HOLC bonds, is in prospect because of the small num,ber of loan applications filed when Congress removed the bars for a 30-dav period last year and expanded HOLC credit by $1,750,000,000. The dearth of new’ applicants convinced Chairman John H. Fahey that the HOLC had met its emergency task and that the government should turn back the responsibility of home refinancing to private business. Borah Introduces Bill Rep. Dingell said hundreds of home ow’ners who were denied loans because they were poor credit risks have now been restord to jobs. but. are still unable to borrow from private institutions. HOLC officials also indicated they would oppose bills providing for reductions in HOLC interest and moratoria for borrowers. A bill by Senator Borah (R., Idaho) would cut the interest charge from 5 to 3 per cent, and one by Rep. Ellenbogen <D.. Pa.) would prohibit foreclosures for one year if the default occurred before Dec. 31, 1936. and for nine months if it occurred thereafter. With HOLC lending estimated to be 97 per cent completed, indications are that the government will have about $3,100,000,000 invested in home mortgages when the June 13 deadline arrives. About 972.000 home owners are now obligated to the HOLC. Only 57,000 applications remain to be acted on and officials estimate that nearly two-thirds of these will be found ineligible. - MOZLEY TRANSFERRED TO CHICAGO OFFICE Promotion of Government • Agent Effective Marrh 1. John L. Mozlev. manager of the Indianapolis office of the United States Department of Agriculture in charge cf live stock, meats and wool, is to be transferred to the | Chicago office, effective March 1 Dr. A. G. Black, chief of the Bureau of Agricultural Economics, announced today. Mr. Mozley, who has been .in charge of the local office since. 1926, is to be succeeded by Carl C. Green, also a local government representative, w’ho has served the department at Eastern and Midwestern points. Mr. Mozley was transferred to Indianapolis about 10 years ago. starting in departmental work. He also was a government representative of the live stock division at St. Louis, St. Paul ana Atlanta. He has had years of experience with major packing firms. DECLARES DIVIDEND Time* Special CLEVELAND. Feb. 19.—Directors of the City Ice and Fuel Cos. have declared a regular dividend of $1.62 Mi on the 6',6 per cent preferred stock, payable March 1, to holders of record Feb. 21. The customary payment of 50 cents a share also was voted on the common stock.

OH OTH : PERSONAL SECURITY.,. SIGNATURE low*rd Rate on LOANS over .SIOO ' IPX Refund in CASH when you piYprtmf*?. ■ Equal Moktwv Rswenrr FPU PAR KtttC in Lot atntr Mr rfritt Ask Attendant Caqumo Ficon Tpitl. j Medical Aats Building ( i.michioam / Riley "•'Stheit D'"'b 1591 'r-Zzll/Zl 1