Indianapolis Times, Volume 48, Number 4, Indianapolis, Marion County, 16 March 1936 — Page 11

Trends Virtues of Excess Profits Tax Lauded. BY JOHN T. FLYNN

YORK March 16.—Much is made of what is called the President's strategy in his tax plan. The President submitted his tax plan, then he suggested three alternatives, /ach one of which would be more disagreeable to a greater number of people than his favored tax on corporation undivided surpluses.

But he refused to consider the excess profits corporate tax, which is now in use in an ineffective way. The excess profits tax has one great virtue. It falls on corporations in proportion to the rate of their rathr ns. It taxes most heavily those corpora tions which have exacted the high-

Flynn

rst rate of profit out of their operations. It treats with greatest gentleness those corporations which are content with smallest rates of profit. This is an eminently just principle of taxation. The excess profits tax is capable of great abuses where the tax law is not surrounded with proper safeguards. In the early days of the income tax, when the heavy war excess profits were imposed, amazing evasions were practiced. u tt tt TJUT in the years which have intervened the tax department has learned much about protecting the government. It is possible to enact an excess profits tax which will make evasions difficult and dangerous. Why, then, does the government abandon this? The principle of taxing undivided profits is a thoroughly sound one. But to abandon all other corporate taxes in favor of that is thoroughly unsound. At the present time the excess profits taxes do not accrue until the rate of return exceeds 10 per cent. This is too high a rate. They should begin at 8 per cent and might be graduated sharply up to yield substantial returns to the government out of the corporations best able to pay it and from those which have profited most from the lift in business due to government spending. tt tt u Then the act could put drastic limitations on extravagant outlays to evade the excess profits tax, such as heavy bonuses, great advertising and promotional costs, and extravagant throwing of money around to defeat the government's impost. This is not difficult to do. Less harm would be done this way to corporations least able to support the levy and a greater return in money would be brought to the government. As matters stand, it would not be surprising at all if the tax which the President has suggested, while working injury to many corporations, will actually not bring in the sums hoped for. The surplus tax can be defeated by the same devices which make the excess profits tax difficult to administer, and I have heard nothing of any changes in the law to meet this situation. (Copyright. 1936, by NEA Service, Inc.) BANK CLEARINGS RISE Twenty-Two Leading Cities Report Gain of 7 Per Cent in Week Timex Special NEW YORK. March 16.—A sharp increase in the Pacific Coast and Midwestern cities resulted in a gain of 7 per cent in bank clearings during the last week over the preceding period, Dun & Bradstreet, Inc., reported today. Twenty-two leading cities in the United States reported a total of $6,015,502,000. compared with $5,624,416,000 in the corresponding 1935 week. The total was $45,877,000 under the previous week. Clearings in New York City were up 4.7 per cent. On Commission Row (Quotations below subject to change are average wholesale prices being offered to buyers by local commission dalers.) FRUIT Strawberries Florida. pint, lfic. 36-plnt crates, 15c Cranberries, C. C. Howes. Eat mores. 25-lb. box. $2 50. Fears: Washington D'AnJo ilOOs box). S3; California. Avacado i2OO-245), $3.50 Grapes: Extra Fancy Emperors 34-lb. sawdust chesti, $3 50. Limes: Mexican carton. 20c: Persian seedless idox.i, 45c. Bananas, seven hands, pound. s'c. Apples Dellclou* ifancy baskets). $2.15; Jonathans $1 50; Rome Beauty. $1.35 Lemons: Sunktst 13605). $6. Grapefruit: Texas seedless tS4s-80s>, $4: Arizona Sunkist, < 80s *. $3. Tangerines: (Florida 120s 1445, 168s), $1.75. VEGETABLES Artichoke. California (doa.i. sl. Beans, green round stringless 'hampers). $2 75. /Beets: Texas t3 rioz. crate). $1.50: cut offs ibu.); sl. Brussels Sprouts California tlb >, 18c Sabbage. New York Danish (50-lb. bag). 85c: Nov Taxas trrate'. $2 Red Cabbage 150-lb bag). $2. Carrots. California 16 <ioz eratei. $3; Texas (3% doz. crate). Si 50. Cauliflower. California (12s crate). $1 65 Celerv. Florida washed and trimmed idoz i, 45u85c: Florida 14s. 6s. Bs. 10s crate'. $3 25 Cucumbers, hothouse idoz.t. $1 25, (southern bushel), $6 Egg plant. Florida tdoz.' $1.50 Kale (Virginia bushel). 85c. Lettuce. Iceberg Arizona ibest 6s sst, $4: home grown leaf 115lb. baskets). $5 Endive. California 'doz.i. 90c Peppers, mangoes icratei. $6 50. peck basket. $1.85 tdoz). 65c Mint, hothouse •doz). 75c. Mushrooms ipoundi 30c. Mustard. Texas half crate. $1.50 Onions —lndiana vellow <SO-lb. bag'. 90c; Western Spanish < 50-lb. bag) $175. Ovster plant, home grown idoz >, 40c. Parslev. southern tlong bunches doz ). 45c. Parsnips. home grown washed tbushel'. $1: 'half-bushel). 60c Peas Florida hamPotatoes. Michigan Round Whites ) 100-lb. bag'. $165; Maine Green Mountains f 100-lb bag). $2 25; R R. Earlv b *'- $l 90 R R. Triumph. 1 100-lb bag). $185; Idaho Russets 1100lb bag. $2 25: Idaho bakers '7os box'. $2 50; Col McClures (100-lb. bag' $2 20; New Florida Triumphs iSO-lb. bag) $2 25 Sweet Potatoes. Indiana Jerseys ds bushel). $1: medium tbuscheli, si: Tennessee Nancy Halls (hampers'. $1.15 Indiana Puerto Ricans 'bushel crate). $1 50 Radishes, home grown buttons (doz.). 75c white. 45c Rhubarb, hothouse 'bunch). 45c. Rutabagas, northern 'SO-lb. bagt. 85c. Sage (dor ). 45c. Shallots. Louisiana idoz.) 40e Spinach. New Texas (bushel). *}■ . Turnips, new bulk Texas (bushel). $135. Tomatoes, repacked 110-lb. box). $1.60, FRUITS AND VEGETABLES (By United Press) CHICAGO. March 16.—Apples—Michigan bu„ Mclntosh. 75c®1.55. Carrots—lllinois] *s® 35 C . Sweet Potatoes—Tennessee, bu.. 804i85c. Beans—Florida, bu.. $1 50* 225 Cabbage—Texas crates, $1 35®l 50 Peas—California, bu. hampers, $2.75* J Spinach—Texas, bu,, 75c Lettuce Western crates. 5 dor. $2,754*3 Celerv— Florida crates. M 15*3.25 Tomatoes— Mexican lugs $3 25 tt 3.75 Cauliflower— California. $1 15*1.35 Onion market 150lb. sacks)—lllinois yellows 40*65c: MsehlSi n y*J} oWf ’ 40*65c: Indiana vellows, 40# •sc; Minnesota yeliowa, 60 & 65c.

INDIANA FARM CASH RECEIPTS RISESHARPLY Larger Income Reflected in Early Payments on Installments. Timm Special LOUISVILLE, Ky„ March 16.The 3 per cent boost in cash receipts by Indiana farmers from the sale of principal farm products and rental and benefit payments in 1935 over 1934, amounting to $57,000,000, is reflected in current receipts of interest payments and in advance installments repaid on loans of the Federal Land Bank of Louisville, Myron G. Grigg, vice president and treasurer, said today. “During the last six days of February and the first three in March, 13,459 Federal Land Bank borrowers paid in more than $1,500,000 interest and principal payments on their loans,” Mr. Grigg declared. “The holders of 7148 Land Bank commission loans paid $484,000, the total receipts of the bank for those days thus standing just under $2,000,000. Emergency Rules Still Hold 4 March interest maturities on Federal Land Bank loans totaled $1,057,000, and of this $538,000 had been paid in prior to March 1. Interest maturities on Land Bank commisioner loans amounted to $658,000, of which $320,000 had been paid in before the beginning of the month. “Due to emergency regulations still in effect, farmers holding these loans are required to pay only the interest on current maturities, yet in February the regular amortization payments on the principal of land bank loans amounted to $320,000, with additional and special payments on principal totaling $233,000, while 131 Land Bank loans aggregating $280,000 and 186 commissioner loans for SIBB,OOO were paid off In full. Outstanding Loans Listed “This represents a reduction in the principal, amount of farmers’ loans from the land bank and the commissioner totaling $1,021,000 during February, despite the fact that no principal payments are exacted if interest payments are being maintained. “We believe that this debt repayment record reflects both the desire and intention of farmers of the Fourth Farm Credit Administration District to repay their borrowings in a systematic program of debt reduction and their increased ability to pay due to favorable crop and market conditions,” Outstanding in Indiana at present are approximately 41.600 Federal Land Bank and commissioner loans for $101,318,000.

5 BUSINESS LEASES COMPLETED IN WEEK Lindner Brothers Rent Salesroom in Ma-Co Building. Leases of two business buildings and three storerooms in Indianapolis during the last week is a reflection of improved business conditions in this city, according to W. A. Brennan. Inc., Indianapolis realtors, who handled negotiations for both owners and renters. Lindner Brothers. Inc., manufacturers of ice cream specialties, leased the corner salesroom in the Ma-Co Building at College-av and 38th-st. An adjoining room in the same building was rented for a number of years by Henry J. Saunders, who plans to install an advanced type of garment cleaning establishment. Others included the leasing of the one-story Automotive Building at 1032 N. Ulinois-st to the Indiana Wheel and Rim Cos.; a spacious storeroom at Virginia-av and Pros-pect-st by the Kroger Grocery anu Baking Cos., and the building at 1044-46 Virginia-av to M. Sablosky 6 Son. who are to open a modern dry goods and department store this spring. AUTOMOBILE EXPORTS INCREASE DURING 1935 Thirteen Per Cent More Steamship Space Purchased Last Year. Timex Special NEW YORK. March 16.—Members of the Automobile Manufacturers’ Association purchased 62,206,513 cubic feet of steamship space for the transportation of their products to overseas markets during 1935. Alfred H. Swayne, chairman of the association's traffic committee, announced today. This represented an increase of 13 per cent over the volume of space used by members of the organization in 1934 and it was more than two-and-a-half times the steamship space purchaser for exports in 1933. Aside from indicating the progress made by members of the automobile industry in the recovery of their overseas market. Mr. Swayne observed that these figures also afforded evidence of the extent to which steamship companies, as an associated industry, have shared in the increased purchases of American vehicles overseas. Chicago Grain Futures (By James E Bennett & Cos.) 11:00 Prev. High Low A. M. Close WhealMay 99% .99% .99% 99 s * Jib’ •• 89% .89% 89% 89 s * September .. .88% .87% .88% .88% CornMay 80 s * .60% ,60 s * .60 s , i u, y ■ 60% .60% ,60 s * .60% September .. .60% ,60 s * .60% .60% Oats— May 27% .27% .27% .27% £ ulv - 27% 27% .22% 27% September 27% .27 27 .27% Rre— My 56% .56% .56% 56 s * July 56 .55% .56 .56% LOCAL CASH MARKET Citv grain elevators are paying 94 cents .2 r . No wheat. Otner grades on their merit*. Cain corn new Ho. 4 yellow M V4GU and oau 21 cent*. * *

Abreast of The Times on Finance

1929-1935 400-= INDIANA 300 —— 19?9 1930 1931 1933 1933 1934 1935 € ■ Crops Livestock and HjjH Rental and Benefit wZyM Livestock Products HI Payments

This chart, prepaied by the Farm Credit Administration of Louisville, showing farm income Indiana since 1929, indicates that the low point was reached in 1932, and that consistent increases have occurred since, raising the rash income of farmers of this state from $136,000,000 in 1F32 to $247,000,000 in 1935, a gain of $57,000,000 above the 1934 figure.

PRODUCE PRICES REMAIN STEADY Shipments Drop 8 Per Cent During Initial Week of March. Timex Special WASHINGTON, March 16.—Produce markets throughout the Midwestern district have shown a comparatively steady tone since the general declines of late February, according to the weekly report of the Department of Agriculture today. The trend is still rather weak toward the middle of the current month except for potatoes, which have advanced from 5 to 15 cents at many carlot shipping points. Celery, lettuce, beans, peas and tomatoes are steady to firm. Cabbage, beets, apples, oranges, grapefruit and strawberries are steady to slightly lower. Asparagus has been declining sharply, having lost half of its market value at some points since the beginning of the month. Potato Movement Gains Shipments dropped more than 8 per cent during the first week of March, but still are approximately 11 per cent greater than for the same week last year. The potato movement is gaining and the current rate is about 1000 cars a week day. The movement of tomatoes and strawberries is increasing, but the majority of leading fruits and vegetables show current decreases because of lower prices in the various producing sections, the irregular quality of many lines of produce at this time of year, and the still unsatisfactory condition of roads in some parts of the North. The demand for apples is reported slow at many city markets and most sales are near the level of the early part of the month. The main trend, however, has been lower for the last several weeks, largely because of many arrivals showing scald or poor keeping quality.

REALTY CONVENTION COMMITTEES NAMED Great Lakes Region Group to Meet Here in May. Committee to direct the second annual convention of the Great Lakes region of the National Association of Reai Estate Boards to be held May 28 and 29 at the Lincoln have been announced by Dan W. LeGore, formre president of the Indianapolis Real Estate Board and general chairman of the convention. Committees and their chairmen are as follows: Reception, William Low Rice; entertainment, Leo H. McAllister; finance, Wayne M. Harryman; prizes, Fred L. Palmer; attendance, Thomas E. Grinslade, and publicity, Joseph J. Argus. INDIANA MEN NAMED Ohio Life Insurance Cos. Appoints D. O. Vickery Special Agent. The Ohio State Life Insurance Cos., Columbus, 0., today announced the appointment of two Indiana representatives. Delbert O. Vickery of Paolli was named special representative. He is to be associated with the Indianapolis agency of which L. S. Shafer is manager. Roy Maxwell was appointed a general agent of the company at Fort Wayne. Other Livestock (By United Press) FORT WAYNE. Ind.. March 16.—Hoes 19® 15c lower; 160-180 lbs , $lO 90; 180-200 lbs., $10.80; 200-225 lbs., $10.70; 225-250 lbs., $10.60; 250-275 lbs., $10.45; 275-300 lbs., $10.35; 300-350 lbs.. $10.10; 140-160 lbs.. $10.30: 120-140 lbs.. $10; 100-120 lbs $9.75; roughs. $8 75; stags, $7. Calves] $9,50. Limbs. $9.50. LAFAYETTE. Ind., March 16.—Hogs— Market, steady to 25c higher: 170-210 lbs., $10.85® 11: 210-235 lbs.. $10.70® 10 80' 235-260 lbs.. $10.40® 10.60; 260-325 lbs.’ $9.80® 19.25; 140-170 lbs. $10.25® 10.50; 100-140 lbs.. $9.50® 10: roughs. $9.25 down Calves. $8.50 down. Lambs. $9 down. Produce Markets The prices quoted are paid lor stock gathered in the country, while delivered in Indianapolis the price is a cent higher Heavy breed hens. 17c: Leghorn breed hens. 14c: Leghorn springers. 12c: old stags. 13c; old cocks. 9c. Ducks, white. 5 ibs. and over. 11c: geese, full feathered, all sizes, 10c: all guineas 1% lbs and up 15c: No. 1 strictly fresh eggs, los off. 14c: deliver in Indianapolis. 15c. Bch full c # s t we'Rti 55 lb- gross, a deduction of 10 cents a pound icfer 55 lbs. will be 33cf* c f . r ’ N °' 2 ' 32@ (By United Press) CHICAGO. March 16.—Eggs—Market, steady, receipts 11.238 cases. Fresh graded firsts. 19c; extra firsts. 19%c; current receipts. 17%c: dirties. 16%c: checks. 16c. Butter—Market, firm: receipts. 8138 tubs extra firsts (90-91% score). 3131'*c extras '92 score). 31 %c; firsts <BB-89% score' 30®30%c: specials. 32®32%c; standards] 31%c. Poultry—Market, steadv; receipts 13 trucks. 1 car due: ducks. 20®24c- geese 14c; spring chickens. 24® 25c:' hens, 17® 2le: turkeys. 20®23c: capons. 25®26c Leghorn hens, 14®20c; roosters 16%®’ 17%c; broilers, 23®25c. Dressed poultry —Turkeys, young toms. 25®27%e: hen turkeys. 27c: capons. 27® 30c Geese— Twins. 15%®15%c: Daisies. 15%®15%c Longhorns, 15 s *® 16c. Potatoes—Supply moderate: demand fairlv good- markot firm. Idaho Russet Burbanks, $1 80®>1.90:’ U. S. No. 2. $1 50® 1.65. Wisconsin Round White, $1.15® 1.25 . North Dakota Earlv Ohio*. sl4s® 1.50; Bliss Triumphs. $l4O. Minnesota Cobblers. tt.3591.40; Early Ohios, sl2o® 125 South Dakota Early Ohio, $1.20. Colorado McClures, $1 80® 1.90. Nebraska Bliss Triumphs. $1.60® 1.65. Arrivals 237. oa track 293, shipments 1187 (Saturiay), 163.

MONDAY, MARCH 16, 1936

Hoosier Farm Income

STOCK MARKET WEEK IN REVIEW

lip Cnited Press NEW YORK, March 16.—Germany's repudiation of the Locarno Treaty unsettled world markets last week. Stocks broke 1 to more than 8 points in the first five trading days. The Dow-Jones composite average of 70 representative stocks made anew low since Jan. 30. Bonds were forced down with principal losses in German, French, and Belgian issues. Commodities were mixed with grains, cotton, sugar, coffee and tin higher. Silk, rubber, cocoa, copper and wool declined. Business continued to make a good showing. Steel operations were up smartly to within a. short distance of the year’s high. Car loading declined less than expected. Electricity output continued well above a year ago. Building and automobile production were higher. Retail trade spurted as much as 40 per cent over the previous week. Fantastic Rumors Spread Domestic news generally was either favorable or neutral marketwise. Hence the attention of the traders centered on Europe. It was believed that war would be averted. In fact, some traders felt that the latest German move might help clarify the European mixup and make for permanent peace. While the powers were preparing to meet to discuss the remilitarization of the Rhineland by Germany and during their conferences, the market was moved by all sorts of fantastic rumors that always appear when facts are unknown. Mere circulation of these reports frightened enough sellers to set off a real reaction. Allied Chemical Off 18 Points

During the first five trading days, Ailjed Chemical broke 18 points. Wide losses were noted in a long list of other issues that recently had been in demand. Chrysler lost more than 7 points. American Telephone more than 5, Bethlehem Steel more than 5, New York Central 4, and Douglas Aircraft nearly 4 points. Railroad issues were particularly hard hit on European selling. Steels reacted with U. S. Steel recording a 5-point loss. Tobaccos made new lows for the year. Coppers were depressed with the exception of American Smelting, which made anew high on an excellent earnings report. Standard Oil of New Jersey gained more than two points on the week. It touched anew high and held most of the gain. U. S. Rubber was a strong spot. Electric Power & Light issues out on the upside in an otherwise lower utility division.

AUTOMOBILE OUTPUT CONTINUES TO RISE Production Boosted by 5000 Cars During Last Week. Times Special DETROIT, Mich., March 16—The third consecutive week of increased automobile production was announced today by Ward's Automotive Reports for the week ended March 14. The week’s production totaled 93.216 units, a gain of 5000 cars over the previous total of 88.217 assemblies. This represented the highest production since week ending Jan. 18. Assemblies for the first two weeks of the month in excess of 180.000 appear to substantiate the earlier nrediction that March output would be more than 400.000 cars and would -epresent a gain of more than 35 per cent over the February figure of 294.528. Stating that the present optimistic sentiment regarding spring sales is justified and will continue to be. the report said, that during the past week dealers’ orders have been coming into plants with increasing rapidity, causing the manufacturers to increase their production schedules.

Busigraphs

AUTOMOBILE PRODUCTION. . IN THE UNITED STATES (U.S. DEPT. OF COMMERCE) 600i —— dotted une is the past TEN YEARS AVERAGE OF mp THE SAME MONTHS ail • JF.M. AMJJASONDJ 1935 ha TV£ RAWER CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS

Although there has been some slackening in the rate of automobile manufacture, January production exceeded by 25 per cent January, 1935. With the exception of 1929 this was the largest January output on record. The average factory price of the cars produced in 1935 was $lO5, with 99 per cent closed cars. The gasoline consumed j by motor vehicles last year had a retail value of three and one-quarter billion dollars, while the motor vehicle user paid taxes of J 1,288,000,000.

U. S. BUSINESS LITTLE CHANGED CY WARTHREAT European Crisis Has Small Effect Here, Says Magazine. The consternation in foreign offices caused by Hitler's sending troops into the Rhineland has practically no reprecussions in the business world here, Business Week reports in today's issue. Aviation stocks spurted a bit under the impetus of government orders, but with spring just around the corner, business is focusing its main efforts on the domestic market to recapture sales held off in the last two months by unfavorable weather, the magazine says. “Even the tax proposals, unwelcome as they are, can not stem the preparations going forward for the largest volume of business since 1930. Index Resumes Advance "Not the least among encouraging factors is the upturn in the Business Week index for the early part of March, after a long decline. Steel activity is close to 56 per cent of capacity, the highest since December’s peak of 56.4 per cent. In another few weeks it would be no surprise to find the steel activity move up to 60 per cent, setting anew high since the fall of 1930. “Helpful, too, was last week's decision to bring steel prices out of the dark recesses of secret rebates and concessions and to put quotations down in black and white for all buyers to see. “Railroads found their net operating income in January at the highest level for the month since 1930, and 64 per cent above a year ago. Since final figures indicated that the roads fell short of going into the black last year by some $287,539, they are pressing hard for continuation of the emergency charges. The reduction in passenger fares makes the fight for the present freight charges even more important. Coal Industry Active “The first sign of thawing has encouraged Detroit to speed up assemblies for the big season ahead. March opened with some 85,000 cars coming off the lines in the first week, and still more this week. However, the setback of February, when assemblies dropped sharply, may prevent first-quarter production from qqite equaling that of 1935, even though March is setting a good pace. Much depends on sales figures in the next few weeks. Considering the first two months together, all records were beaten, even including 1929. “Though most coal operators are concerned about the prospects of the Guffey Act, now before the Supreme Court, and about the slow progress being made in current wage discussions, the industry is not sitting idly by and letting its markets go to competing fuels. Last year some 20 coal companies spent $13,000,000 for new equipment and supplies.”

SALES OF IMPLEMENT FIRM BEST SINCE 1929 International Harvester Reports Gain of 57 Per Cent in 1935. Times Special CHICAGO, March 16.—The International Harvester Cos., world’s largest manufacturer of farm implements, has reported 1935 sales 57 per cent greater than in the preceding year, and the first earning for the common stock since 1930, according to the annual statement released today. The company’s 1935 sales amounted to $217,583,447, the best total since 1929. This, however, was about 35 per cent less than the total in 1929. Net income during the year amounted to $19,618,238. equal to $3.27 a share on common stock, against $3,948,636, or a deficit of 42 cents a common share after preferred dividends, in 1934. Capital expenditures in 1935 totaled $8,662,000. doubling the outlay of the preceding year. Reserve charges against earnings and depreciation account charges for 1935 totaled $24,350,000, against $20,082,000 in 1934. 1935 INCOME HIGHER Wilson-Jones Cos. Earns $1.95 a Share in First 6 Months. Timm special CHICAGO, March 16.—WilsonJones Cos. has reported net income after all taxes for the first six months of its fiscal year ended Feb. 29. 1936, at $226,451, equal to $1.95 a share, compared with $226,089. or $1.65 a share, for the corresponding six months of the previous fiscal year. However, $36,777, representing recovery of cash in closed banks previously written off, was included in the net income for the corresponding six months of the previous fiscal year, so that the present earnings are comparable with $189.312, equal to $1.39 a share, according to Benjamin Kulp, president. The company is one of the nation’s leading loose leaf and blank book manufacturers. NEW PLAN IS ADOPTED Co-operative Group Insurance Is Available to Lyman Workers. Adoption of a plan of co-operative group life insurance, placed through the John Hancock Mutual Life Insurance co., Boston, Mass., has been announced by Benjamin Lyman, Dresident of‘Lyman Brothers, Inc. It is available to all employes, and the firm will contribute a substantial portion of the cost. The insurance was arranged by Walter B. Lichenstein of the Indianapolis Agency, Lyman Brothers are manufacturers and dealers of mirrors, frames, mouldings, portraits and pictures. NINE HOUSES SOLD IN ONE DAY The sale of nine houses on contract in Indianapolis on March 7 has been reported by Robert Allison, president of the Allison Realty Cos. and, city Rentals, Inc,

New York Stocks

(By Thomson k McKinnon) High Low AM. close 11:15 Prev. Oils— Amerada 120 120 120 120 Atl Rfg 31 1 31 1 4 31'4 30’s Barnscfall 16% 16 s * 16 s , 16 s , Consol Oil 14 1 a 14 s , 14 1 2 15 s , Cont of Del 35 34% 34' 2 34% Houston mew).. 11 s , 11% n% n s . Mid Cont Fet .. 19 s , 19 s , 19 s , 19 s , Ohio Oil 16 15', 15’, 15’, Pet Corp 16’, 16 s , 16’, 17 Phillips Pet ...43% 42’, 43' 2 42 s , Plymouth Oil .. 14 s , 14 s , 14 s , 14'. Pure Oil ... . 23’, 23% 23% 23 1 a Seaboard Oil 41 s , 41% 41 s , 42 Shell Un 18', 18’, 18% 18% Skelley Oil 28% 27 s , 27% 28', Soc Vac 15 1 4 15',, 15' 4 15', S O of Cal 45 s , 45 45 44’, S O of Ind 38' 4 38V 4 38' 4 33 S O Os N J 66 s , 66 66 5 , 66' 4 Texas Corp 36' 4 36 36 36 Tidewater Assn . 18 s , 18' 4 18' 4 18 s , Un Oil of Cal... 27*, 27 27 27 s , Steels— Acme Steel 68% 68% 68'/ 4 69% Am Roll Mills... 29 s , 29 s , 29 s , 29 s , Beth Steel 55Vi 54% 54 s 4 55 s , Byers A M 21% 21V, 21V, 21', Inland Steel 109% 109 109 109 Ludlum Steel 27 s 4 27 s * 27 s * 27 s * McKeesport Tin 105 104 s / 4 104 s 4 105’, Mid Steel33 s , 36 36 5 -, 36'2 Natl Steel 67 66', 66‘, 66 Otis Steel 19% 19 19V, 19 1 , Rep Irn k Steel 23’, 23% 23 1 4 23 5 , U S Pipe k Fdy 35’ 2 35% 35Vi 36 U S Steel 63*/ 2 63% 63' 4 63 s , Warren Bros . 7% 7% 7 s * 7', Youngstn S& T 49'i 49 49Vi 49V* Motors— Auburn 48V* 47’* 47% 48’* Chrysler 95 s , 94'2 94 94' 2 Gen Motors 61 1 4 60 s , 60’, 61', Graham Mot .... 3% 3 s * 3 5 4 3 5 4 Hudson 17’, 17V* 17'/ 2 17’, Hupp ... 2V 2 2V 2 2Vi 2V 2 Mack Title /t . ... 32% 32 s * 32% 32' 2 Nash 19 19 19 19 V 4 Packard 11V* 11 11 107 b Reo 7'/, 7 7 V, 7 Studebaker ... 13>/ 2 13'* 13V, 13V* Yellow Truck .. 16V 4 IS 16 157,

Motor Access— Bendix 24% 24 24 24' Bohn Alum .... 58V 2 58'/ 2 58% 59 Borg Warner ... 79% 79% 79% 791/. Briggs 61 61 61 60% Budd Mfg 13 3 4 13* 4 13 s * 137* Budd Wheel .... 12% 12V* 12' 4 12V* Eaton Mfg 31% 31'2 31% 31% Elec Auto Lite... 40V 2 40% 40% 40’, Elec Stor Bat 65% 65% 65% 65 s , Greyhound ' B”. 29’, 29 29 29% Murray Body ... 20 s , 20% 20% 20% Stew Warner ... 20% 20% 20% 20% Timken Roll 69 68’, 68’, 68% Timken Det Axle 15% 157, 15% 15% Mining— Alaska Jun 15 15 15 15 Am Smelt 82V* 82 82 82% Anaconda 34% 34 34 34 Cal & Hecla .... 9 9 9 <5% Cerro De Pasco . 51 51 51 51 Granby 11 10% 10% 10% S?PPe r 12% 12% 12% 12% Int Nickel 487* 48% 48Vi 48% Kennecott Coj .. 37 367, 37 37 Mclntyre Mine . 41 41 41 40% Park Utah 4% 4% 4% 4% Phelps Dodge . . 35 347* 35 34% U S Smelters .. . 87V* 87 87% 86 Vanadium 23 23 23 23V* Amusements— Loews Inc 47% 47% 47% 48 Radio Corp 12'% 12 s /, 127, 127, Paramount 97, 97* 9% 10 RKO 77* 7V 2 7% 7% Warner Bros ... 117* 11% 11% 117* Tobaccos— Am Sum Tob ... 22% 22% 22'% 22% Am Tobacco “B” 90'/* 90% 90% 89 Lig & Myers 'B' 99% 99 99 99 Lorillard 227* 227* 227 4 22 Phillip Morris .. 71 71 71 69% Reynolds Tob ‘B’ 52 517* 52 51% Rails— Atchison 757, 757* 757* 75% Atl Coast Lines.. 29 287* 29 28% B& O 207* 20 20 20% Can Pacific 13V, 13 13% 13% Ch & Onio 56'/ 2 56% 56 % 56 Chi & Gt W ... 1% 17* 1% 2 Chi & Gt W pfd 6 6 6 6 C M & St P 2% 2% 2Vi 2% Chi N W . 37* 37* 37* 3% Dela & Hud 447* 44% 443/, 44% Del Lac & W ... 19 187* 18 s / 4 19% Erie 14 13 Vi 14 14% Gt Northern pfd 36 357* 36 35% 111 Central 24‘/a 23% 23% 24% K O Sou 20 19% 20 20% Lehigh Valley .. 12% 12% 12% 12% M K & T 77, 7 s * 77* 7% M K & T pfd 21 21 21 207* Mo Pac 3'/* 3V* 3V* 3V* Mo Pac pfd 6 6 6 6 N Y Cent 35 Vi 35 35 35 N Y New Haven 47* 4V* 4% 4% N Y Ont, & West 6% 6 6% 67* Nor Pacific 30% 30% 30 s /, 30% Penn R R 337* 33% 33% 33V* Sou Pac 33 32% 327* 33 Sou R R 17% 17% 17% 17% Union Pac 132% 132% 132% 132 Wabash 37* 37* 37* 3% West Maryland • 10 10 10 10 Equipments— Am Brake Shoe 47V* 47% 47V* 46% Am Car & Fdy . 36 35Vi 35Vi 34% Am Loco ... 31% 31 % 31% 31% Am Steel Fdy . . 27’, 277* 277* 28 Bald Loco 5% 57* 5% 57* Gen Elec 39V* 39 39 39 Gen Am Tk Car 56V* 56% 56% 56% Gen R R Sig .. . 447* 44% 44% 44 Pullman Inc .... 44% 44 44% 4% West Air Br 427* 42% 42% 43 Utilities— Am & For Pwr . 7% 7% 7 s * 7 s * Am Power & Lit 10 9 s /* 9% 10 AT&T 1687* 1687* 1687* 168V* Am Wat Wks 22 21% 21% 21% Col Gas & Elec.. 18 17 s /, 17% 17 s * Comm & Sou ... 3V* 33 3 Consol Gas 34V* 337* 34V* 34% Elec Pwr & Lit.. 15% 15% 15V, 15% Int TANARUS& T 16% 16% 167* 16% Nat Pwr & Lit.. 11 11 11 10 s /* North Amer ... 26t* 267* 26V* 26% Pac G & E 35 35 35 34% Pub Serv N J.. 42 42 42 41% So Cal Edison... 25% 25% 25% 25'* Std Gas 7 s * 7% 7% 77* Stone & Webster 16 *? 16 16 United Corp . 7Vi 7% 7V4 7% Un Gas Imp 16% 16 s /, 16% 16% Ut Pwr & Lt A . 6V* 6V* 6V4 6 Rubbers — Firestone 30% 30% 30% 30% Goodrich 197* 19% 19% 19% Goodyear 28% 27 s * 27% 287* U S Rubber . 25% 25% 25% 26 U S Rubber pfd 72 71% 7.7* 71% Miscellaneous— Allis Chalmers . 45 45 45 46 Am Can ... 125 125 125 124% Am Mach & Fdy 257* 25 % 257* 25% Anchor Cap .. 23 V* 23 V* 23'4 23V* Brklyn Man Tr.. 49% 497* 49% 49 Burroughs Add.. 287* 287* 2874 28'2 J I Case 133 133 133 133V* Conti Can 80% 807* 807* 80% Crown Cork ... 49’, 49% 49% 49'* Deere & Cos ... 79 79 79 79% Eastman Kodak .160% 160% 160% 161 Gillette 17 17 17 17 Glidden 47Vi 47% 47% 47 Inter Harv 81% 81V* 81V4 80 Natl Cash Reg . 27% 27 27 27 Rem Rand . .. 22V* 22% 22% 22% Worthington P.. 30% 30% 30% 30% Foods— Armour 6% 6 6V* 6% Borden Prod .... 277, 27% 27% 27 Cal Packing .... 33V* 33V, 33V, 33% Can Dry G Ale.. 14% 14% 14% 14 Coca Cola .. 90'i 90% 90 % 91% Cont Bak (A).. 177* 17% 17% 17% Corn Prod .. 73V* 7? i 73% 73 s * Cuban Am Sugar 13% 13V* 13% 13V, Gen Foods 34% 34 s , 34% 34% Gold Dust 20% 20 s * 20% 20% G W Sugar ... 36% 36% 36% 36% Natl Biscuit 34% 34 34 34V* Natl D Prod 23% 23 s * 237* 24 S Porto Rico Sug 33 33 33 32% Std Brands 16% 16'/, 16% 16 Wriglev ...... 76 -76 76 76 Assd Drv Goods 167* 167* 16 s * 16 s * First Natl Stores 42 42 42 43 Gimbel Bros 107* 10% 10% 10% Kresge S S 23 22% 23 22% Kroger Groc ... 24 24 24 23% McCrory St ... 15% 15% 15% 15% Marshall Field .. 17V* 17 17 16% Mont Ward 40V, 397* 397* 39 s , Natl Tea 10 10 10 10 Penney J C 70% 70% 70% 70% Sears Roebuck . 62% 62% 62% 62% Woolworth 507, 507* 50% 50V* Aviation— Aviation Corp .. 7 7 7 6’* Boeing Aircft .. 23% 23 s * 23% 24% Investment Trusts (By Thomas D. Sheerin k Cos.) Bid Asked Admimsteerd Fund 2nd $16.63 sl7 69 Affiliated Fund, Inc 1.90 2 08 American General Equities .. 109 112 American Business Shares ... 116 126 Bullock Fund Ltd 17.75 19.25 Century Shares Trust 24.47 29 53 Collateral Tr. Shares ‘‘A" ... 6.52 660 Corp AA or Acc :m (M0d.)... 3.30 3.33 Corp AA or ACC itJnmod.)... 2.64 267 Corp Trust Shares tOrig.i 2.79 2.8' Diversified Trustee Shares 'B' 10.70 10.80 Diversified Trustee Shares 'C 4.48 453 Diversified Trustee Shares ‘D’ 670 680 Dividend Shares Inc 1.64 1.78 Incorporated Investors 21 90 23 55 xlnvestors Fund Amer 1 05 1 15 Market Street Invest Corp 31 04 32 86 xMaryland Fund 19 00 20.43 Massachusetts Investors .... 25.41 27.62 Nation-Wide Sec Cos ‘ B” 4.32 xNation-Wide Voting 1 74 1 89 North Amer Tr Shs 1955 3.28 3 33 North Amer Tr Shs 1056 ... 324 329 North Amer Tr Bhs <Orig.) . 2 57 Quarterly Income Shares 1.56 1 89 Representative Trust Shares 12 45 12 60 xSelectPd Amer Shares Inc 1.56 1.70 Selected Amer Shares (Orig.t. 363 Selected Cumulative Shares . 9.79 9.49 Selected Income SVaies 4 90 5 00 State Street Inve*tmeit Corp 97 50 102 00 Super-Corp of A.nerUv. “AA'’ 278 2.80 Super Corp of Aemrica BB . 2.79 283 Super-Corp of America K ... 415 4.20 Suer-Corp of America B 4 35 4 40 Super-Coro of America Ca. D 803 Suoervised Shars. Inc iDela.i 166 182 Trustee Standard Oiishares A 764 7.74 Trustee Standard Oiishares B 684 6.94 Trustee Standard Invest C . 294 297 Trustee Standard Invest D . 288 291 Universal Trust Shares 4 24 Uselns “A” 18 50 19 00 Uselps “B'‘ 2 84 Uselps Voting 108 .. United Standard Oilfunds ... 1.37 1.50 x—Ex-Dividend,-

Anthracite Shipments Up Shipments of anthracite coal for February as reported to the Anthracite Institute amounted to 5,933,723 net tons , an increase of 1,068 r 516 net tons over January.

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Curtiss Wright . 8% 8% R% 8% Douglas Air . . . 69% 68% 68% 69% Nor Am Av 9 s , 9% 9% 9% Sperry Corp 21% 21% 21% 21‘, Unitd Aircft New 28 s , 28% 28 s , 29 Chemicals— Allied Chem 187 187 187 186% Col Carbon .. 104 s * 104'* 104% 103% Com Solvents . 22% 21% 31% 22 Du Pont ... 144% 144% 144% 145% Freeport Tex ... 31 % 31 31% 30% Math Alkali ... 33 33 33 32% Natl Dis inewi . 31% 31% 31% 30’, Tex Gulf Sulph 35% 35% 35% 35% Union Carbide 82% 82% 82% 82 U S Indus Alcohl 52 s , 51% 51% 52% Drugs— Lambert 23% 23 s * 23% 23% Sterling Prod .71 71 71 71% Un Drug mew).. 14% 14% 14% 14% Zonite Prod 8% B', 8% 8% Financial— Adams Exp .. 12% 12 s , 12’, 12% Allegheny Corp . 3% 3% 3% 3% Am Int Corp ... 11 s , 11% 11 s , n% Chesa Corp 65% 65 65% 64 % Lehman Corp .. 97% 97'/, 97% 97% Transamerica ..14 14 14 13% Tr Conti Corp .. 9’, 9’, 9’* 10 Building— Am Radiator ... 21 s * 21% 21 s , 21% Gen Asphalt .... 31% 31% 31% 31% Int Cement. 43% 43% 43% 43 Johns Manville 112 112 112 113 Libby Owens Gls 59 5 , 58% 58’, 59 Otis Elev 28% 28% 28% 30 U S Gypsum ...101% 101% 101% 101% Household— Kelvinatcr 22 21 s * 21% 21% Proc & Gamble . 45% 45% 45% 45 s , Servel Inc ... 18% 18 s , 18% Simmons Bed .. 27 5 , 27 27'* 26’, Textiles— Amer Woolen ... 9% 9% 9’* 9’, Celanese Corp .. 27% 27% 27% 27 s , Collins Aikman . 45 s , 44% 44% 44% Gotham Hose ... 11% 11% 11% 11%

Chicago Stocks (By Atkins, Hamiil & Gates) 11:30 Prev. A. M. close. Allied Products 21 s * 22% Asbestos Mfg 4% 4’, Bastian-Blessing 8% 8% Berghoff 11 4 11 Butler Brothers 10 10 Cent 111 Pub Service pfd 60% 60% Cities Service 5 5 Commonwealth Edison 101% 101 Continental Steel 37% 37% Cord 6% 6% Crane 26V* 25% Godchaux Sugar (At 35% 35% Godchaux Sugar ißi 15‘ 4 15 Great Lakes Dredge 28% 29 Jarvis Mfg 22% 22% Libby McNeil & Libby 9% 9% Lincoln Printing 8% ... Loudon Packing 8 . . McGraw Electric 31 s * 31% Nat Gvpsum 57% 58% Northwest Bancorporation . 10% 10% Signode Steel 12 12% Standard Dredge pfd 13Vi 13% Vortex Cup 20 19% Zenith 16% 17 s /, New York Curb (By Atkins, Hamiil & Gates) 12:30 a.m. Prev. N. Y. close. Aluminum Cos of America 137 141 % Am Cyanamid ißi 35V* 35% Am Gas and Electric 38’, 39 Amer General 10 V 2 10% Amer Superpower 2% 2% Ark Natural Gas (A) 6% 6% Atlas Corp 13% 13% Canadian Indust Alcohol (A).. 9’, 10 Carrier Corp 10 9% Creole Petroleum Corp 29% 30% Crocker-Wheeler 13% 13% Elec Bond and Share 19% 19 s * Fisk Rubber 7'/ 4 7% Ford Motors Canada (A) 25% 25’, Glen Alden (1) 15 15'/, Greenfield Tap and Die Corp.. 9% . Gulf Oil Corp. of Penn 93% 96% Humble Oil and Refining Cos.. 73% 74% Imperial Oil of Canada 21% 21% Molybdenum Corp of Am .... 10% 10% Natl Bellas Hess Inc 2% 2V* Niagara Hudson Pwr 61% 61% Pennroad Corp , 4% 4% Root Petroleum 11% 12 St. Regis Paper Cos 4% 4% Salt Creek Producers Assn . 8% 8% Segal Lock 3’, 3% Sonotor.e 2% 2% Sterchi Bros Stores 6 Stutz Motor Car of Am 2% 2% Tichnicolor. Inc 29 s * 30% Tubize Chatillon Corp 8% 8% Wayne Pump 27% 28% Local Securities (By Indianapolis Bond & Share Corp.) The following quotations do not represent actual bids or offerings, but merely Indicate the approximate market level on buying and selling inquiries or recent transactions. BONDS Bid. Ask. Home T & T Fort Wayne 5% 104 105 Home T & T. Fort Wayne 6 .103 106 Indianapolis Railways, Inc .. 66 69 Indianapolis Water Cos. 4% ..105 107 Indianapolis Water Cos.. 5 . 105 107 Indianapolis Water Cos.. 5 . 105 107 Indianapolis Water Cos., 5 Vi. 104 Vi 106 Indianapolis Water Cos.. 5%.. 104% 106 Interstate T & T 5% 97 99 Kokomo Water Works. 5 104V* 105% Morris 5 & 10 Stores. 5 100 103 Muncie Water Works. 5 .. 103 Noblesville Heat. Lt & Pwr. 6% 98 100% Ohio Telephone Service, 6 ... 97 V* Richmond Water Works. 5 ..104% 106 Seymour Water Cos.. 5 101 104 Terre Haute Trac & Light. 5 106 108 Terre Haute Water Works 102 104 Terre Haute Water Works .. .103 105 Traction Terminal Cos.. 5 75 78 STOCKS Belt R R & Stock Yards Com 53% 56 Belt R R & Stock Yards pfd. 6 52% Central Ind Pwr pfd 7 17 20 Home TANARUS& T. Fort Wavne, 7.. 52% 54V* Hook Drugs. Inc., com 16'/a 18 •Ind & Mich Elec Cos., pfd. 7 103% 106V* •Ind General Service Cos.. 6 . 96V* 99 Ind Hydro Elec Cos., 7 58 61 Indianapolis Gas Cos., com.. 6 . 35 38 •Indpls Pow &Lt Cos., pfd., 6 89 92 •Indpls Pow & Lt Cos., pfd.. 6% 93V* 96% •Indianapolis Water Cos pfd 5 .102 105 North Ind Pub Serv pfd 5%. 67',* 70% North Ind Pub Serv pfd 6 . 74 77 North Ind Pub Serv pfd 7 . 83 86 Progress Laundry Cos com ... 10 11V* Pub Serv Cos of Ind pfd 6 ... 20 23 Pub Serv Cos of Ind pfd 7 ... 43% 46V* •South Ind Gas & Elec. pfd. 6 97 100 Terre Haute Elec Cos. 6 ... 89 91% Union Title Cos com 19V* 21% •Ex-dividend. Unlisted Stocks IBy Blyth k Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers Trust 62 64 Central Hanover 113 115'* Chase 38% 40% Chemical National 55 s * 57'* Guaranty 292% 295% Irving 16% 17’, Manufacturers 45% 46 s * National City 35% 37 Cont 111 Chicago 162 166'* First National Boston 45 s * 47% National Shawmut 28 29 3 /* FIRE INSURANCE Aetna Fire 56'* 58% American Ins of Newark 15% 17% Baltimore American 9 10% City of New York 35% 36 s * Federal Ins 53 56% Franklin Fire 32V* 34% Great American Ins 30% 32% Hanover Fire Ins 40 41 s * Hartford Fire Ins 73 80 * Home Ins 37 s * 39 s , National Fire 72 76% Ins Cos of A 78 80% National Liberty 10'4 11% North River 28% 30'* Phoenix 94 96 s * U. S. Fire 56V* 58% Westchester Fire 38 40 V* Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,867,000 Debits 7,115,000 TREASURT STATEMENT (By United Press 1 WASHINGTON. March 16.—Government expenses and receipts for the curren' fiscal year to March 13, as compared with a year ago: This Year. Last Year. Expenses. $4,928.7(58,922.79 $4,749,873,239.35 Receipts. 2.511.776.454 59 2.427,187.357 58 Deficit. 2.416,992.468.20 2.322,885.881.77 Cash bal. 1.752,708,891.55 2.975,641 171 68 Pub. debts 30.502.448.471.63 28,596,319 320 08 Gold res. 10.170.300.784 65 8.550.692 582 79 1 Customs 272.538.661 28 234,715,010 01 EMPLOYMENT INDEX OFF Times Special CLEVELAND. March 16. —The employment index in Cleveland decreased slightly during the last month, it was announced today. The current figure, however, is still considerably above the like period a year ago. LOANS REPAIRS j AND NEW HOME BUILDING See Your Local Building and Loan Assns.

PORKERS REACH $11.20, HIGHEST DURIMMONTH Weights From 160 to 250 Pounds Up 10 Cents; Others Steady. With a general advance of 10 ! cents in weights ranging from 160 ! to 250 pounds the top price of hogs was carried to the highest mark since Feb. 18 at the Indianapolis Union Stockvaras today. The new level for the current month is $11.20. Other classes, including packing sows, heavy slaughter grades and underweights, remained steady. The moderate advance in prices was believed influenced by an extremely light supply of receipts available. The total number was estimated at 3000. an increase of only 2000 over Saturday s half-day session. Holdovers numbered 165. The general bulk of 160 to 223 pounds cashed in at $lO.lO to $10.20, while medium kinds, scaling 250 to 300 pounds, sold at $10.30 to $10.70. Extreme heavies, from 300 to 400 pounds, brought $9.70 to $lO.lO. Underweights. from 130 to 160 pounds, were selling at $lO.lO to $10.60, (Packing sows held at $9 to $9.50. j Initial trading was less active in the cattle market, especially on ' slaughter grades, which showed inI dications of weakness. Bulk of i steers eligible held under $8.50. Beef j cows ranged from $5 to $6.25. Receipts were 800. Vealers continued to display a steady trading range. The bulk of good and choice kinds sold at $8.50 to $9.50. Receipts numbered 400. Lambs also were stationary with quality an important factor. Few choice of fed western grades sold at $10.25 down. Bulk was eligible around $lO. Native classes were scarce. Slaughter sheep sold at $3.25 to $5.25. Receipts were 1200. HOGS Mar. Bulk. Ton Receipt*, in. $10.85011.00 $ll.OO MOO 11. 10.70010 90 10.90 5000 12. 11 000 10.10 11.10 5000 13. 10.90011.00 11.10 4000 14. 11.000 11.15 11.15 1000 16. 11.10(@11.20 11.20 3000 Light, Lights (140-160) Good and choice $lO 100 11.00 Medium 9 60010.20 1160-180) Good and choice . 10 90 0 11.20 Medium . 10.40® 10.90 (180-200) Good and choice . 11.10041.20 Medium . . 10.60® 11.10 1200-220) Good and choice . 11.050 11.20 (220-235) Good and choice . 10 85011.10 Heavyweights 1 250-290 1 Good and choice . 10.300 10.85 (290-350) Good and choice . 9.900 10.30 Packing Sows (275-3501 Good 9 20# 9.50 (350-425) Good 9.100 9.40 (425-550) Good 8.850 9.25 (275-350) Medium 8.50 0 9.20 Slauchter Pies (100-140) Good and choice .. 9.35010.10 Medium 8.35® 9.60 —CATTLE——Receipts, 800— (550-900) Choice $ 9.25010,50 Good 7.750 9 75 Medium 7.000 8.00 Common 5.50® 7.00 (900-1100) Choice 10 00011.50 Good 8.50010.00 Medium 7.000 8.75 Common 6.000 7.25 (1100-1300) Choice 10 50011.50. Good 8.500 10. §'J Medium 7 00® 8.75 (1300-1500) Choice 10.750 11.50 Good 8.750 10.75 Heifers (500-750) Choice $ 8.000 8 75 Good 7.00 0 8 CO Common and medium 5.25® 7.25 (150-190' Good and choice ... 7.500 900 Common and medium 5.25® 7.25 Cows Good 5.500 6 50 Common and medium 4.750 5.50 Low cutter and cutter 3.500 4.75 Bulls, good 6.250 7.00 Cutter, com. and med. bulls... 5.00® 6.50 VEALERS —Receipts, 400— Good and choice $ 8.500 9.50 Medium 6.50 0 8.50 Cull and common 4.500 6.50 Calves . (250-500) Good and choice .. 6 000 9.00 Common and medium 4 50 0 6 00 Feeder and Stocker Cattle (500-800i Good and choice. .. 6.750 775 Common and medium .. 5 25® 675 (800-10501 Good and choice . 6.750 7.75 Common and medium 5.25® 6.75 Cows Good 4.500 5.00 Common and medium . 4,25®, 4.75 SHEEP AND LAMBS —Receipts, 1200— Lambs. 90 lbs. down, good and choice SIO.OOOIO 35 Good 9.50 0 10.00 Medium 9.00® 9.65 Common 7.750 900 Ewes 1 90-175 1 Good and choice .. 4.25® 525 Common and medium 3.250 4.25 Yearling wetthers, good choice 8.750 950 Medium 7.75® 8.90 Other Livestock (By United Press) CHICAGO. March 16 —Hogs—lß.ooo. including 8000 directs: fairly active, steady to 10 cents higher than Friday's average; top, $10.85: bulk better grades 160-250 lbs . $10,500.10 80; 250-300 lbs, *lO 100 10 60: 300-350 lbs., $9,850 10 15- load 400 lbs $9.65; sows mostly steady at. $9 09 50 Cattle—ls.ooo; calves. 1500; fed steers and yearlings 25 cents lower: verv slow; middie and lower grades predominating: general killing quality being much plainer: meaty feeders tending lower in sympathy with killer decline, but thin stockers about steady; all other killing classes unevenly stcadv to 25 cents lower: bull* steadvvealers steady to 25 cents lower: be ■ fed steers, early, $10.50; bulk of quality and condition to sell at $7 5009.25: best heifers, $8 85; choice vealers up to $9 Sheep—--1.000; bids and scattered early sales iamb* scaling around 95 lbs. down, steady at $10.25 downward: bulk of supply held higher: heavy lambs neglectd bv all buying interests in morning rounds: sheep scarce; quotable steady; fed Texas wethers, s<; ewes off at $8; few heavy ewes $5.75, BEMIS LETTER SERVICE 303 Merchants Bank Bldg. Lincoln 6122

COLONIAL PLAN afcO 0 C f o * e r * * I :uuuoji; 51 0 pß onpt A p RILEY 1591 p L II NANCE UO