Indianapolis Times, Volume 48, Number 9, Indianapolis, Marion County, 21 March 1936 — Page 16

impnds Suggests Solution For Foreign Debt Problem. BY JOHN T. FLYNN

NEW YORK, March 21.—Senator Vandenberg has suggested to the Treasury a possible solution for the foreign debt problem, though the Senator does not insist on it.

It is an interesting example of the way in which this debt problem rises continually and will continue to rise until it is settled. As is well known, our former European allies owe us something more than 11 billion dollars plus interest. All of these countries, with the exception of Finland,

Flynn

have deliberately repudiated these debts. At least they have done so in effect, announcing that they would not make payments as payment dates have arrived. Senator Vandenberg now proposes that the United States government call on these debtors to deliver to the Federal government their bonds in small denominations, which the government could sell to its citizens and thus realize the amount of the debt. a a a FOR instance England owes us $4,000,000,000 plus interest. For this debt we have nothing now save the agreement fixed in certain treaty arrangements. But if England were to deliver to the United States $4,000,000,000 in bonds, say of SIOO each, our government could then sell those bonds to its own citizens or others and thus collect what 1s due it or at least some part. The agreements with the debtor nations provide for something like this. But the plan involves severalconsiderations. These foreign governments refuse to pay the United States. They have said, over and over again, that they do not pay because they can not pay. If this is true, and I believe it is true, would American citizens buy the bonds if the government had them? Would you buy a bond of a foreign government now after the government had announced that it was incapable of paying such bonds? It is conceivable that American speculators might buy such bonds from the Federal government for very low prices. Thus, if the United States accepted $4,000,000,000 in bonds from England and sold them, let us say at 50, which is probably more than they could get for them, the government would get $2,000,00,000 instead of $4,000,000,000. This would be equivalent to cutting the debt in half. a a a THE government would get half its debt, but the debtor government would still owe all of it to private persons. This involves immediately the question—ara we willing to cut the debt in half? And if we are, why should we not do so directly, rather than through this scheme? The Treasury makes this objec- ' tion and Senator Vandenberg ,'eems to acquiesce. But he makes the further proposal that it is better to let the debts stand in default than to settle for the smaller sum—let them stand as a warning against further lending, particularly for war purposes. There is much to be said for that view. But there is another view. A defaulted debt is always a source of irritation between nations as between men. Would it not be better to get this question settled and removed from our international relations. In other words, ought we not decide realistically just how much we think we can collect and then settle for that, however small, and try to resume friendly relations with Europe with this poisonous issue issue eliminated? (Copyright, 1936. by NEA Service. Inc.) RUBBER DEMAND DROPS Decrease of 24.2 Per Cent Shown During February. Time* .Vjjecwi CHICAGO. March 21.—Rubber consumption in the United States during February amounted to 36,746 Ipng tons, compared with a record high of 48.506 in January, a decrease of 24.2 per cent, according to an announcement made today by the Rubber Manufacturers Association. On Commission Row (Reprinted From Late Time* Yesterday) (Quotations below subject to change are average wholesale prices being offered to buyers by local commission dalers.) FRUIT —Strawberries: Florida. pint. 16c; 86-plnt crates. 15e Cranberries. C. C. Howes. Eatmores, 25-lb. box. $2.50. Fears; Washington D'Anjo (100s boxi. $3; California. Avacado i2OO-245). $3.50. Grapes: Extra Fancy Emperors (34-lb. sawdust chest). $3.50. Limes: Mexican carton. 20c: Persian seedless idoz.i. 45c. Bananas, seven hands, pound. sV*c. Apples Delicious i fancy baskets) $2.15; Jonathans *1.50; Rome Beauty, $1.35 Lemons: Sunklst (3605), $6. Grapefruit: Texas seedless <s4s-80si. $4; Arizona Sunkist, (80s). $3. Tangerines: (Florida 120s. 1445. 168s). *1.75. VEGETABLES Artichoke. California (doz.), sl. Beans, green round stringless (hampers). *2.75 Beets: Texas (3 doz. crate). *1.50; cut offs ibu.). sl. Brussels Sprouts. California (lbJ 18c. Sabbage, New York Danish (50-Ib. bag*. 85c: New Taxas (cratei. *2. Red Cabbage (50-lb. bag). $2. Carrots, California (6 doz. crate). *3: Texas <3% doz. crate). *1.50. Cauliflower. California (12s crate). $1 65. Celerv. Florida washed and trimmed Idea.), 45 (785 c: Florida (4s 6s. Bs. 10s crate), *3.25. Cucumbers, hothouse (doz.), *1.25: (southern bushel). *6 Egg plant. Florida (doz.). *1.50 Kale (Virginia bushel). *sc. Lettuce. Iceberg Arizona (best 6s. ss). 84: home grown leaf (15lb. baskets). *5. Endive. California idoz.i. 60c PeppMs, mangoes (crate). *6 50. peck basket. *1.65 (doz), 65c Mint, hothouse (doz.). 75c. Mushrooms (pound), 30c. Mustard, Texas half crate. *1.50. Onions —lndiana yellow (50-lb bag). 90c: Western Spanish (50-lb. bag(. M 75. Oyster plant, home grown (doz ), 40c. Parsley, southern dong bunches doz.). 45c. Parsnips. home grown washed (bushel), *l; (half-bushel), 60c. Peas. F)orlda hamper). *9 50. Potatoes. Michigan Round whites rtoo-lb. bag). *165: Maine Green Mountains 1100-lb. Dag). $2 25; R. R. Early Ohlos (100-lb. bag). *1 90: R R. Triumph (100-lb. bag). list; Idaho Russets (100lb bag. *2 25: Idaho bakers 1 70s box) *2 50; Col McClures (100-lb. bag) *2 20 - New Florida Triumphs (50-lb. bag) *2 25 Sweet Potatoes. Indiana Jerseys 11* bushel). *1: medium (buschel). *f- Tennessee Nancy Halls (hampers). *1.15- Indian. Puerto Ricans (bushel crate) *1 50 Radishes, home grown buttons (doz!) 75c ; white, 48c. Rhubarb hothouse (bunch)' 46c. Rutabagas, northern 450-lb. bag)' 85c. Sage (doz I. 45c. Shallots, Louisiana (do*.). 40c. Spinach New Texas (bushel).

PAGE 16

TIN MONOPOLY ! IS CHARGED IN U. S. COMPLAINT Trade Commission Cites 15 Firms for Alleged PriceFixing. By United Press WASHINGTON, March 21.—The Federal Trade Commission today charged 15 companies engaged in manufacture of tin plate with entering into an alleged illegal agreement whereby small manufacturers of tin cans were unable to obtain a grade of tin known as “stock plate.’’ The companies, the commission charged, refused to quote prices on "stock plate,” and thereby “arbitrarily and unduly enhanced the prices which jobbers and manufacturers must pay for a higher grade of plate sold by the same respondent companies.” The complaint also alleged that the companies’ alleged practices “tend to lessen and suppress competition in the sale of tin plate, and to create a monopoly in the manufacture of tin containers on the part of American Can Cos. and the Continfntal Can Cos., which together consume approximately 65 per cent of the production of tin plate.” Three Grades Produced 'ftie complaint pointed out that the tin plate companies produce three grades: Production plate, stock plate, and “waste-waste.” The commission charged that in October, 1934, the 'respondents “entered into the alleged combination to eliminate competition in the sale of ‘stock plate’ by agreeing not to quote prices on such grade of tin plate nor to offer the same for sale to jobbers and to small can manufacturers, who, because of lack of financial capacity, were unable to carry ‘production plate’ in stock. “The result of these alleged acts,” the complaint charged, “tends to increase the prices of tin plate above the prices which prevailed 1 in 'the past and which would prevail under normal and open competiton among the respondents, and tends to force jobbers of tin plate out of business.” The complaint charged that the alleged practices “tend to create a monopoly in American Can and Continental Can by depriving the competitors, who in the past could purchase ‘stock plate’ through jobbers, to by ‘production plate’ at prices substantially higher than they were formerly required to pay and which are in fact higher than prices paid for the same product by American Can Cos. and 'Continental Can Cos.” Companies Are Listed The commission directed the companies to show cause before April 17 why a “cease and desist” order should not be issued against them. The companies named in the complaint were: American Sheet and Tin Plate Cos., Pittsburgh; Bethlehem Steel Cos., Bethlehem. Pa.; Canton Tin Plate Corp., Canton, O.; Columbia Steel Co.,;San Francisco; John Follansbee, George T. Ladd and Isaac M. Scott, trustees in bankruptcy for Folllansbee Bros. Cos., Pittsburgh; Granite City Steel Cos., Granite City, 111.; Inland Steel Cos.; Chicago; Jones & Laughlin Steel Corp., Pittsburgh; McKeesport Tin Plate Cos., McKeesport, Pa.; Republic Steel Corp., Youngstown, O.; The N. & G. Taylor Cos., Cumberland, Md.; Washington Tin Plate Cos., Washington, Pa.; Weirton Steel Cos., Weirton, W. Va.; Wheeling Steel Corp., Wheeling W. Va,; and the Ydungstown Sheet and Tube Cos., Youngstown, O. 1936 TRUCK OUTPUT IS EXPECTED HIGHER Predicts 15 Per Cent Gain Over Previous Year. Times Special NEW YORK, March 21.—The total volume of truck and commercial car sales is expected to show an appreciable gain during the current year over 1935, Joseph D. Burke, director of truck sales, Dodge division of Chrysler Corp., predicted today. Complications of truck and commercial car registrations for 1935 revealed that 510,683 trucks and commercial cars were sold. Regarding the probable total for 1936, it is expected a 15 per cent increase in sales of commercial vehicles will be seen. Predicted as sources of important volume of truck business during the next several months are the general contracting, plumbing and other lines which directly or indirectly are identified with the constructions oi houses and building.

Busigraphs brokers’ loans (new YORK STOCK EXCHANGE) FIRST OF FEBRUARY * • < -1 * J * 0 q 2 ■ J '-IHn.nl TH£ PARKER CORR. GENERAL DISTRIBUTORS INCORPORATED INVESTORS Debt is always it the bottom of any financial collapse. It was the large debt structure supporting the 1929 stock market which threw it into panic. At that time brokers' loans were 10 per cent of the stock values. This debt element of risk is largely absent from our present market for brokers’ loans, which are less than one billion dollars, are only about 2 per cent of the value of all stocks listed on the New York Stock Exchange

Abreast of The Times on Finance

Perce** PURCHASING POWER & COMPONENTS i-ramgigfftMTaTtr 120 r~T ~. J-- FT— l j "■( ] ■!'■[■ 111 |■ | |" | I’ I inn *—■■■■ I . I ■ ■ ■U.— |, ■! —— \COMPOBITE DEI yflgNP f 5 !., 80 1 /! ‘ 60 f— —“T Up" vamnof [ sws-*oty*ooh— | ..... ii J too I | Qq 100 -<4. -———4 o 80 - Farm Aycojygjc " 60 f 40“ FACTORY PAYROLLS ~ ,*,.1.1,,11ti l 1 > 1 1 1 1 11 1 i 1 20

The Economics Statist*; index of purchasing power declined to 87.3 per cent of the 1923-24 average in January from 90.9 per cent in December. Excluding benefit payments made to farmers, the drop was slightly less, the index dropping to 87.3 per cent in January from 88.3 per cent in December. The principal factor causing this decline was the drop in factory pay rolls. Benefit payments to farmers were also reduced sharply, amounting to only $1,000,000 last January, compared with $47,000,000 in December and $70,000,000 in January, 1935.

New York Stock Exchange Prices

(Bv Thomson & McKinnon) (Reprinted From Late Times Yesterday) Prev. Hieh Low Close Close Oils— Amerada 114*4 112*4 114 112*4 Atl Rfsr 31% 31 31 31 3 /a Barnsdall 17% 17% 17*4 17*4 Consol Oil 15% 14% 14% 14% Cont of Del 35% 34% 35*4 34% Houston (new) . 11*2 11% 11% 11% Mid Cont Pet .. 21% 204 21 19% Ohio Oil 16*4 16 16 16 v Pet Coro 17*4 16% 16% 17 Phillies Pet 46% 45 % 46 46*4 Plymouth Oil ... 14% 14 14% 13% Pure Oil 24% 24% 24% 24% Roval Dutch ... 54% 54% 54% 53% Seaboard Oil ... 42*4 41*4 41% 42% Shell Un 17% 18% 18% 18% Skeilev Oil 30, 28% 29*4 27% Soc Vac 15% 15 15 15% SO of Cal 46% 45% 46% 45% SO of Ind 30% 38% 38% 34% SOof N J .... 63% 68*4 69% 69% Texac Corp .... 28% 37% 38*4 37% Tidewater Assn. 18% 18% 18% 18% Un Oil of Cal .. 27 26% 26% 27% Steels— Am Roll Mills . 29% 28% 28% 29% Beth Steel 57 564 56% 56% Byers A M 22% 21% 22 23 Cruc Steel 36% 36 36 36 4 Inland Steel ...110*4 HO 110 V* Ludlum Steel ••• 29% 38% 39 304 McKeesport Tn. 106% 105% 105*4 105 Mid Steel 38% 37 37 38 Natl Steel 69*4 68% 69% 69% Otis Steel 19*4 19 19 19% Rep Iron & Steel 24% 23% 23% 24,4 Rep Iren & Stl p 96% 96% 96% 96% U S Pipe & Fdy 36 35% 35% 35% U S Steel 65*4 63% 64 65 U S Steel pfd- • -132 131% 132 131*4 Warren Bros -• • B*4 8% 8% A War Pipe & Fdy 26% 26*4 26*4 27 Youngstn S& T 50% 50*4 50 % 50,4 Motors— Auburn -50% 49*4 49*4 49% Chrysler 97*4 95% 95% 96% Gen Motors 65% 64% 64% 64,8 Graham Mot ... 3% 3% 3% 3 4 Hudson 18?/s 18% 184 18 ,2 Truck .... 34*4 32% 33 4 Nash 20 19% 19*4 19% Packard 11% 11% 11A Reo 7% 7*4 7*4 7% Studebaker 13% 13 13% 13^4 Yellow Truck ... 18% 18*/* 18% 17% Motor Access — Bendix 25% 24*4 24*4 24% Sohn Alum 60% 60% 60% 60% Borg Warner ... 81% 81 81% 81% Briggs 62% 61% 6i% 02,2 Budd Mfg 14*4 13% 13% 13% Budd Wheel .... 12% 13% 13% 13% Eaton Mfg .... 35% 35 35*4 35 4 Elec Auto Lite . 41% 4040 40 /4 Elec Stor Bat . 51 51 51 50 Greyhound “B". 65*4 65 65,8 63% Houdaille 30% 29% 29 ,4 30 A Murray Body ... 21% 20*4 20% 21 Stew Warner ... 21 20*4 20% 20 A Timken Roll ... 69% 69% 69% 70 Timken Det Axle 16*4 15% 15% 16*4 Mining— Alaska Jun 15% 14% 15% 14% Am Metals .... 35% 33% 34% 34% Am Smelt 91*4 89% 89 A 89,4 Anaconda 36*4 35*4 35% 36 Cal & Hecla .... 9% 8% 8% 9 Cerro De Pasco . 56% 54% 55% 54% Dome Mines ... 45*4 45 45 45,4 Gt Nor Ore ... 20 19% 19% 20 Howe Sound .... 55% 54*4 55% 55 b Ins Copper 12% 12% 12*4 12% Int Nickel 50% 49% 40 49% Kennetcott Cop. 38A 38*/2 38% 38-4 Mclntyre Mine .. 42% 42 42 42 Park Utah 4% 4*4 4% 4% Phelps Dodge ... 39 38% 39 38 4 St Joe Lead 28% 27*2 28 28 U S Smelters ..92 89% 80% 88 a Vanadium 23% 23% 23% 23 4 Amusements— Croslev Radio .. 16% 16 16 16*4 Fox Theat 29 28% 28% 29 Loews Inc 48% 48% 48% 48 4 Radio Corp 13% 13% 13% 13% Paramount 10% 10 10 9.b RKO 8% 7% 8% 8 Warner Bros .. 13 12% 127s 12*A Tobaccos— Am Snuff 60*4 60*4 60*4 60% Am Sum Tob 23 23 23 22^8 Am Tobacco “A” 91 89% 89*,4 90/4 Am Tobacco “B" 91% 01 91 91 Ligg & Myers B 101% 100 100 100 Lorillard 22% 22*4 22% 22, a Phillip Morris . 73*4 72% 72% 73% Reynolds Tob ‘B’ 53% 52% 53% 53*4 Rails— Atchison 76% 75 75 75% Atl Coast Lines.. 29% 28*, 4 28*2 28% 3& O 20% 19% 19% 29% Can Pacific 13% 13% 13*4 13% Ch & Ohio 57% 87% 57*4 57*4 Chi & Gt W pfd 6 6 6 6 CM&StP ... 2% 2 2*4 2% C M & St- P pfd 4>a 4*4 4% 4% Chi N W 3% 3% 3% 3% Dela & Hud .... 44 43 43 44 Del Lac & W 19 18% 18% 18% Erie 15 14*4 14*4 15*4 Erie pfd 22 22 22 22% Grt Northern pf 3874 37% 37% 38% 111 Central 23% 23'4 23% 23*4 K C Sou 23 22*2 22% 22*4, Lehigh Valley .. 11% 11% 11% 12 M K &■ T B*4 8 8 B*4 M K fie T pfd .. 21>a 21*4 21*4 21% Mo Pac pfd ... 6*4 6 6 6*4 N Y Cent 35% 34*4 34*4 35% N Y New Haven 4*4 4*s 4*4 4% N Y Ont fz West 6% 6% 6*4 6% Nor Pacific .... 30*2 29*4 29% 30% Penn R R 33% 32% 32% 33% Sou Pac 34 33 33 33% Sou R R 17% 17 17*4 17% Union Pac 133 132*4 132*4 133% Wabash 3% 3% 3% 3*2 West Maryland. 9% 974 9% 9% Equipments— Am Brake Shoe- 46% 46*4 46% 47% Am Car & Fdy.. 37 35% 35*4 36*2 Am Loco 32*4 32 32 32 Am Steel Fdy... 30% 29*4 30 29*4 Bald Loco 5% 5% J 5% 5% Gen Am Tk Car 56% 56)4 56% 56% Gen Elec 39% 39 39*4 39% Pu’.’man Inc .... 43% 43 43 43% West Air Br .... 43 = 4 43 43 43% Westingh E1ec...115% 113% 114% 1137s Utilities— Am & For Pwr . 8% 8% B*4 8% Am Power & Lit 12*4 11% 11% 11% AT&T 164*2 160 162*4 164% Am Wat Wks ... 22% 22 22 22 Col Gas & Elec.. 19 18% 18% 18% Comm & Sou ... 3*4 3*4 3% 3% Consol Gas 35*s 34% 34% 347s Elec Pwr & Lit.. 15% 15 1574 15 Int. Hydro Elec.. 4*4 4 4 4 Interboro RT .. 14% 14% 14% 15 Int TANARUS& T 17*8 16% 16% 16% Lou G& E “A” 22% 22 22% 22% Nat Pwr & Lit.. 11% 11% 11% 11% North Amer .... 27% 26% 26% 26% Pac G& E 36*4 36 36*4 36 Peoples Gas .... 43 42*4 42*4 43 Pub Serv N J ... 41 40*4 40% 41*2 So Cal Edison... 26*4 26 26*4 26% Std Gas ... 8 7% 8 8% Stone & Webster 17*4 16% 17 16% United Corp .... 7% 7% 7% 7% Un Gas Imn . 16% 16*4 15% 16% Ut Pwr & Lit ‘A’ 6*4 s*s 5% 6 Western Union.. 87 8C 86 87% Rubbers— Firestone ....... 31% 31% 31*4 31*4 Goodrich 20*4 19 20% 1974 Goodvear 29*4 27% 29 28 U S Rubber .. 26% 25% 25% 25% U S Rubber pfd . 74% 73 73 73% Miscellaneous— Allis Chalmers.. 46% 45% 45% 46*4 Am Can 124% 124 124 124=4 Am Mch & Fdy 24% 24% 34% 34% Brkiyn Man Tr. 48% 48% 48% 4t>% Burroughs Add. 29% 29* 2 13% 29% J I Case 133 132 139 133*4 Conti Can ... 82 81% 81% 81% Caterpillar Trac 70% 70 70*4 70 Crown Cork .... 50% 50*4 50% 50% Curtis Pub 20*4 20 20 20 Deere *Co 84 82% 82% 83 Eastman Kodak 165 163 163 162 Foster Wheeler. 32% 32 32% 33*4 Gillette 17% 17*4 17*4 17*4 Glidden 50 46% 46% 467* Ingersoll Rand -130 130 130 130 Int Bus Mach ..180 179 179 ISO Inter Harv ... 87% 88 87% 87*4 Natl Cash Reg 28*4 27V, 27% 27% Oweoi BoU*- .155*, 155% 155*, 155% Reir. Rand .... 21% 21 21% 21% Underwood I.' • 90% 90 90% 90% Worthingt'n Pmp 33% 31% 32% 31 Fends — Am Sugar 54% 6<% 5474 54% Armour 6% 6 6 6 Beatrice Cnemm.- 8 A 8 8 8 Bordea Prod ... 28M u* 38% 33%

SATURDAY, MARCH 21, 1936

Cal Packing ... 34 Canada D G Ale 15% 14% 14% 14% Coca Cola 91% 91 91 90% Cont Bak ...‘A’ 18 17% 17% 17% Corn Prod 72% 72 72 72% Crm of Wheat .. 36 35*4 35% 36 Cuban Am Sug 13 1274 12% 12% Gen Baking ... 13 12% 12% 12*4 Gen Foods 35% 35 V* 35*4 35% Gold Dust ...21 Vs 20% 20% 2074 G W Sugar .... 36% 35% 35% 35% Natl Biscuit.... 34'i 33% 33% 3474 Natl D Prod ... 24*4 24',4 24 74 24 74 Purity Bak ... 14% 14% 14*4 14% S Porto Rico Sug 3274 32*4 3274 32y* Std Brands 17 1 674 1 674 16% Un Biscuit 24 74 24% 2474 24% United Fruit ... 7374 73 73 73 Retail Stores— Allied Stores ... 8% 874 874 874 Assd Dry Goods. 16% 16% 16% 1674 First Natl Stores 43 42% 42% 42 Gimbel Bros ... 10 9% 9*B 9% Gra Un Tea ... 4% 474 4% 474 Jewel Tea 70*4 70 7074 70 Kresge S S 22% 82V* 2274 22% Kroger Groc .... 23% 23% 23% 23% Macy R H 4674 45 % 45% 46 McCrory St 15% 15*4 1574 15% McLellan St .... 13% 13% 13% 13% Marshall Field .. 17% 17% 17% 17% May Dept Sts ... 48*4 48*4 48% 48 Mont Ward 41*/4 4074 4074 40% Natl Tea 10 9% 10 10 Penney J C 73 7274 72*4 72 4 Safeway St 31 74 31 74 3174 3174 Sears Roebuck .. 6474 63*4 64 63*4 Woolworth 50% 5074 50% 50% AviationAviation Corp .. 7*4 774 774 774 Boeing Aircft ... 24*4 23*4 23% 24*4 Curtiss Wright .. 8% 7% 7% B*4 Curtiss Wright Al 9 18*4 18% 18% Douglas Air .... 74% 71% 72 73% Nor Am Av 10% 10*4 1074 10% Soerry Corp 21% 20% 20% 2174 United Arcft New 28*4 27% 27% 27% Chemicals— Air Reduction ..186 186 186 186 Allied Chem .193% 19174 193% 19174 Am Con Alcohol 3174 30*4 30% 307* Col Carbon 117*4 115% 115% 116 Com Solvents . 22% 21*4 2174 22 Du Pont 149 147V* 148% 147 Freeport Tex ... 32 30% 30*4 32 Math Alkali ... 374 3874 33*4 3374 Monsanto Chem. 92 92 92 99 Natl Dis (new). 32% 32 32% 31% Schenlev Dist . . 48*4 48 48 4774 Tex Gulf Sulph. 35% 35*4 35*4 35 74 Union Carbide.. 84% 84 84 84 U S Ind Alcoh.. 51% 50% 50% 50% N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds Rails Utls Bonds Today 92.0 92.0 105.3 96.5 Yesterday 9.19 92.5 105.1 96.5 Week Ago 91.5 91.4 104.6 95.8 Month ago 93.3 95.2 104.8 97.8 Year ago 84.6 74.0 92.9 83.8 1936 high 93.4 95.6 105.5 97.5 1936 lowo 91.5 84.7 103.5 93.3 (Copyright, 1936, by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott. Proctor & Paine) Treasurys Prev. Close, class. 474s 1942-52 117.15 117.15 4s 1944-54 112.13 112.14 3%s 1946-51 110.26 110.22 3%s 1940-43 108.19 3%s 1943-47 108.4 107.29 3%s 1941-43 109 107.14 37is 1943-45 102.21 107.14 3 74s 1941 109.2 108.31 3V*S 1949-46 107.10 105.12 37'ss 1946-49 105.9 105.12 3*/sS 1949-52 105.13 105.5 3s 1951-55 104.5 104 3s 1946-48 104.15 104.3 2%s 1947-45 102.21 102.18 2%s 1951 101.24 101.16 Home Owners’ Loan Corp. 2%s 1949 * 101.13 101.8 3s 1952 102.16 102.12 Federal Farm Mortgage Corp. 374s 1964 104.2 104.3 3s 1949 ' .102.19 102.25 2%s 1949 '.102 101.25 3s 1942-47 103.9 DOMESTIC Prev. Close. Close. Alleg Corp 5s ’44 91% 92% Alleg Corp 5s ’49 86V* 87 Am Frgn Pow 5s 2030 75% 7674 Am Tel & Tel 5%s ’43 113*/* 113% Arm & Cos (Del) 5%s ’43 98 98 Atl Coast Line 4s ’52 99 99% Atl Coast Line 4*%s ’64 84 83 Atch Top & S Fe 4%s ’4B ....111% 111 Am Wat Wks 5s ’44 110% 11074 Am Rolling Mills 5s '3B 120% 121'% Balt & Ohio 4%s '6O 697a 72% Buff Roch & Pitt 4*, 2 s ’57 76% 79 Beth Steel 5s ’36 106 106 Chi Milw &StP 5s ’75 23% 24 Chi Milw & St P 5s 2000 77a 8 Cleve Un Term 5s ’73 106 106 Cleve Un Term 4*/2S '77 101% 101% Col Gas 5s May ’52 103% 103% Col Gas 5s ’6l 103% 104*/* Can Pac Perp 4s 93 93 Cent Pac 5s ’6O 108'* 108% Big Four 47is ’77 89% 90 Colorado & So 4%s ’BO 737* 73 Chi & West Ind 4s ’52 104*2 104% Cht & West Ind 5%s '62 107% 107*2 Chi & Nor West 4%s ’49 14'* 1474 Con Gas 5s ’57 104'* 105 Chesa Corp 5s '47 130% 130% Del & Huds 4s ’43 857a 8674 N Y Dock 4s 'sl 69 68% N Y Dock 5s '3B 68*4 68% Erie 5s ’75 7774 77% Erie 5s '67 78 7874 Gen Cable 5%s ’47 105'/, 105 Grt Northern 7s ’36 106** 101% Grt Northern 4%s ’76 102% 103% Grt Northern 4%s ’77 101*2 102% Hud & Manhat Ref 5s ’57 ... 8674 85% 111 Cent 4%s ’66 72% 74% 111 Cent Jt 4%s ’63 78% 80’* 111 Cent 5s '63 83** 84 3 * Interlake C & I 5s 'sl 92% 92% Interntl Hv Elec 6s '44 5374 537* Interntl Tel & Tel 4%s '39 ... 97 96 Interntl Tel & Tel 5s '55 .... 88% 89 Interntl Tel & Tel 4%s ’52 .. 84*4 83% McKess & Rob 5%s ’SO . 103*4 103% Natl Dairy s’-4s ’4B 103% 103*2 Natl Steel 5s '56 106** 106% Nickel Plate 5%s ’74 94 94 N Y Cent 5s 2013 907', 91% N Y Cent 4%s 2013 (old) 84 85 Nor Amer Cos 5s ’6l 105 105% Nor Pac 3s 2047 83% 84 Nor Pac 4%s 2047 102 101% Nor Pac 6s 2047 1107a 110% Nor States Pow 5s ’4l 105*4 105% New Orleans Term 4s ’53 92 92 Otis Steel 6s ’4l 102% 102% Penn Rv 474s ’B4 109*4 108% Penn Rv 4%s ’Bl 10974 109 Penn Ry 4%s ’7O 102 102% Pac G & E 5s ’42 103%* 103’,a Portland Gen El 4%s ’6O 7274 72*i Para Publix 5* is ’SO 91 911 j Penn P & L 4%s ’Bl 106% 107% Postal Tel & Cab 5s ’53 36 36 Rem Rand WW 5* is ’47 104% 104*4 Shell Union Oil 5s ’47 102% 102% Sou Pac 4%s ’6B 89 89 Sou Pac 4%s ’Bl 88% 88 Sou Pac 4*is ’69 88% 88% Sou Pac 4s -49 88% 89% Sou Rail 4s ’56 62 62% Sou Rail 6s ’56 79 78% Sou Rail 6*is ’56 83 83** Sharon Stl Hoop 57is ’4B 103*4 103*4 Texas Pac 5s ’BO 101 *i 101*. Texas Pac 5s ’79 101*4 101% Texas Pac 5s ’77 102% 102*4 Union Pac 4s ’47 mi* mii Units* Drug 5s ’53 100*'- 10O*i U S Rubber 5s ’47 105% 105% NY NH & Hart 6s ’4B 35% 36 NY NH & Hart 4%s ’67 35% 35% Warner Bros 6s ’39 95% 95 Western Mary 5%s ’77 108 10874 Western Marv 4s ’52 100*4 101% Youngstown S & T 5s *7O 106% 106% Youngstown S & T 5s ’7B ....105% 105% FOREIGN Argentina A 6s ’57 991- 99*4 Argentine B6s ’SB 991, oqs . Brazil 8s ’4l 33 Canadian Govt 4s ’6O 108% 107*German 5%s '65 28 25*4 German 7s '49 35% 351. Italy 7s ’sl *4 * 71 ui Japan 6%s ’54 95% 95^ Rome 6 s 2S '52 65 gj Tokio City s*2* '6l 76% 76 Yokohama 6s '6l 83 11%

Drugs— Bristol Myers .. 48 48 48 47% Cotv Inc 6*2 7 2 % 6% 674 Lambert 23% 2374 23% 23% Lehn & Fink .. 13% 13% 13% 14 Sterling Prod .. 71% 71% 71% 71% Un Drug (new) 15*/4 14*/* 15 14% Vick Chem 45% 45 74 45*/* 45 V* Zonite Prod .... 7% 7% 7% J% Financial— Adams Exp .... 12% 1274 12*/* 12*/2 Allegheny Corp 3% 3% 3% 3 ','2 Am Int Corp .. 11% 11% 11% 11% Chesa Corp .... 68% 6874 68V* 68*4 Lehman Corp .. 97*/s 97 97% 97% Transamerica .. 14 13*/, 13*/, 13% Tr Conti Corp.. 1074 1074 10*/* 10% Building— Am Radiator ... 23% 23% 23% 22*/, Gen Asphalt .. 3374 3 2 3 2 32% Holland Frunace 40% 4040 4074 Int Cement .... 4674 45% 46*/, 45V* Johns Manville .115% 114% 114% 114% Libby Owens Gls 60 59% 60 597i Otis Elev 30*/2 29% 29% 30 U S Gypsum..lol 100 100 99% Ulen Const .... 7 6% 6% 6% Household— Col Pal Peet .... 19% 18% 18% 18% Coneoleum 38% 377* 28% 37 Kelvinator 257* 24 3 * 24% 25% Mohawk Carpet . 25% 24% 24% 25 ',2 Proc & Gamble.. 46 45% 4574 46 Servel Inc 27% 20% 21 207, Simmons Bed ... 28% 27% 28 27% Textiles— Amer W001en.... 11% 10% 10% 11 Belding Hem ... 15 15 15 15*,4 Celanese Corn .. 29% 28 3 * 28% 29 Collins Aikman.. 47% 46*,8 47% 46 Gotham Hose.... 11 11 11 11. Indus Ravon .... 30',2 30% 30% 30% Kayser Julius .. 29*,2 297* 2974 2£% PASSENGER, CARGO REVENUE INCREASES United Air Lines Report Gain of 22 Per Cent for 1935. Times Special CHICAGO, March 21—Passenger and cargo revenue of the United Air Lines Transport Corp. amounted to $8,283,100.52 during 1935, an increase of approximately 22 per cent over the total of the preceding year, it was reported today. The company operated at a net loss of $1,392.81 during the year, compared with $2,283,525.31 in 1934, according to the annual statement released by W. A. Paterson, president. The loss a share was eqtlal to one-third of one mill, against SJ.I9 a share in the previous year. Although the company set up new records in passenger and cargo volume during the year, the loss was attributed largely to inadequate air mail pay a pound-mile Mr. Patterson pointed out. The company received about 12 per cent less a pound-mile in 1935 than in 1934. Miles flown increased from 14,023,584 in 1934, to 14,855,108 in 1935. Revenue passengers totaled 177,457 during 1935, an increase of 30,318 over the preceding year. These passengers paid $4,933,376 for transportation, an increase of $732,945. Local Securities (By Indlanapol); Bond & Share Corp.l The following quotations do not represent actual bds or offerings, but merely Indicate the approximate market level on buying ind selling Inquiries or recent transactions. BONDS Bid. Ask. Home T & T Fort Wayne 5% 103 105 Home T & T. Fort Wayne. 6..103 106 Indianapolis Railways. Inc... 66 69 Indianapolis Water Cos. 474 ..106 108 Indianapolis Water Cos.. 5.. 105 107 Indianapolis Water Cos., b ■ 105 107 Indianapolis Water Cos., 574.104% 106 Indianapolis Water Cos., 5%.. 104% 106 Interstate T & T 5% 97 99 Kokomo Water Works, 5 104 10572 Morris 5 & 10 Stores. 5 100 103 Muncie Water Works, 5 103 74 ... Noblesville Heat. Lt & Pwr. 674 98 10074 Ohio Telephone Service. 6 ... 97'/a Richmond Water Works, 5... 105 106V2 Seymour Water Cos.. 9 ........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 5674 Belt R R & Stock Yards pfd, 6 52 Central Ind Pwr pfd 7 16 19 Home TANARUS& T. Fort Wayne. 7.. 52*4 5474 Hook Drugs. Inc., com 16% 18 •Ind & Mich Elec Cos., pfd 7.. 103% 10674 •Ind General Service Ho.. 6-. 9674 99 Ind Hydro Elec CVo.. 7 55 58 Indianapolis Gas Cos., com., 6. . 35 38 •Indpls Pow & Lt Cos., pfd.. 6 . 89 92 •Indpls Pow & Lt Cos., pfd 674 94 97 •Indianapolis Water Cos pfd 5 102 105 Northr Ind Pub Serv pfd 5%5. 66*/a 69*/2 North Ind Pub Serv pfd 6.. 74 77 North Ind Pub Serv pfd 7.... 81 84 Progress Laundry Cos c0m.... 10 117a Pub Serv Cos of Ind pfd 6 ... 20 23 Pub Serv Cos of Ind pfd 7 43*4 46% •South Ind Gas & Elec pfd. 6 9774 1 00% Terre Haute Elec Cos. 6 ... 89 91*4 Union Title Cos com 1974 21 74 •Ex-dlvldend. Investment Trusts (Reprinted From Late Time, Y’esterday) (By Thomas D. Sheerin & Cos.) Bid. Asked Administered Fund 2nd *l®-®^ Affiliated Fund, Inc. l.? 8 2.16 American General Equities.. 1.10 1.13 American Business Shares.. 1.18 1.28 Bullock Fund Ltd 18.25 19.87 Century Shares Trust 27.58 29.65 Collateral Tr. Shares A...’... 6.67 6.75 Corporate AA or Accum Mod. 3.36 3.39 Corporate AA or ACC Unmod. 2.68 2.71 Corporate Trust Shares Orig. 2.83 2.8 1 •Diversified Trustee Sharesß 10.70 10.80 Diversified Trustee Shares C 4.55 4.59 Diversified Trustee Shares D 6.90 6.98 Dividend Shares. Inc. 1-67 1.81 •Incorporated Investors .... 22.60 23.90 Investors Fund Amer 1-07 1.17 Market Street Invest. Corp 31.43 33.08 Maryland Fund 19.45 21.00 Massachusetts Investors .... 25.79 28.03 Nation-Wide Sec. Cos. B 4.40 •Nation-Wide Voting , 1.78 1.94 North American Tr. Shs. 1955 3.34- 3.38 North American Tr. Shs. 1956 3.3 j 3.34 North Amer. Tr. Shs. (Orig.) 2.59 .... Quarterly Income Shares ... 158 1.73 Representative Trust Shares.. 12 60 Selected Amer. Shares, Inc. 1.59 1.74 Selected Amer. Shares (Orig) 3.71 Selected Cumulative Shares. 9.63 9.73 Selected Income Shares .... 4.98 508 tate Street Investment Corp. 100.00 104.50 Super-Corp. of America AA. 2.31 2.84 Super-Corp. of America BB 2.84 2.87 Buper-Corp. of America A... 4.25 4.30 Super-Corp. of America B .. 4.44 4.49 Suoer-Corp. of Am C and D. 8.17 8.27 Supervised Shares. Inc. (Del.) 1.69 1.85 Trustee Stand. Oil Shares A 7.67 7.77 Trustee Standard Oil Shs. B 695 7.05 Trustee Btand Investment O 2.99 302 Trustee Standard Invest D . 2.93 296 Universal Trust Shares 4.33 4.38 Uselps A 18 50 18.85 Stand*d Oil Funds. 1.39 1.52

U. S. CONTROL OF ECONOMIC SYSTEMURGED Industrial Progress Council Submits Report to President. By United Press WASHINGTON, March 21.—Government control of the economic system was urged by the Council for Industrial Progress today as the only means of preventing “competitive unbalance” which might lead to another depression. A report to President Roosevelt by Industry Co-ordinator George L. Berry recommended a broad national plan of economic stabilization embracing minimum wages and maximum hours, establishment of minimum prices and regulation of discounts, and formation of a Federal research and planning board. The council emphasized that it did not propose that the government undertake national planning by “administrative fiat,” such as under outlawed NRA, but through legislative enactment without delegation of legislative power to the executive branch of government. Submits Six Remedies The committee proposed establishment of an independent Federal planning board to investigate production, distribution, prices, wages, hours and money and credit. The board would have equal representation of employer, labor and consumer. The report offered six specific remedies for what it considered to be defects in the present competitive machinery. It recommended: 1. Establishment of minimum wages and maximum hours of work, to remove the factor of labor costs from the competitive field, and to provide economic stability. 2. Establishment of minimum prices, regulation of discounts, and in some instances price maintenance, to avoid destructive competition—but without adherence to any rigid formula. 3. The government should not countenance combinations in restraint of trade, but should allow trade associations, under well-de-fined limitations, to control trade practices. Study of Unemployment 4. Immediate and thorough study of the extent of technological unemployment, and the rate of mechanization in industry, the rate of worker displacement, and the rate of absorption of displaced workers; legislation requiring payment of dismissal wages, and establishment of labor exchanges for transferring displaced workers to other employment. 5. Establishment of “reasonable control” of corporations, in order to “substitute public welfare for merely private ends.” 6. Regulation to maintain prices of prison-made goods at a point where wage scales will not be broken down - by unfair governmental competition. The committee emphasized that the program should apply equally to interstate and intrastate commerce, “remembering that intrastate transactions, if left without regulation, will break down any attempted regulation in interstate transactions.” ENGINEERING AWARDS TOTAL $33,606,000 Private and Public Contracts Lower Than a Week Ago. Times Special NEW YORK, March 21.—Engineering construction awards issued during the last week totaled $33,606,000, compared with a total of $21,854,000 a year ago, according to the weekly report of the Engineering News-Record released today. Both private and public awards were lower than a week ago. The private volume last week amounted to $11,748,000 and public $21,858,000, of which Federal totaled $2,308,000 and state and municipal $19,550,000. Corresponding totals a year ago were: Private, $4,858,000; public, $16,996,000; Federal, $1,882,000, and state and municipal, $15,114,000. High awards continued to gain during the week, showing a total of $8,274,000; sewerage also was higher at $3,345,000. Other classes of work wjere lower than last week. They total: Public buildings, $3,685,000; commercial buildings, $3,608,000; industrial buildings, $4,690,000; bridges, $2,166,000; waterworks, $1,210,000; earthwork, drainage, $1,626,000; unclassified, $5,002,000. WHOLESALE COMMODITY PRICE INDEX DECLINES Latest Figure of 76.7 Is Lowest Since Middle of July. Times Special WASHINGTON, March 21.—The wholesale commodity price index compiled by the National Fertilizer Association continued to decline during the week ended March 14, falling to 76.7 from 76.9 in the preceding week, it was announced today. The index last week was at the lowest level reached since the middle of July. A month ago the index was 78.3 and a year ago 76.4, based on the 1926-1928 average as 100. Lower quotations for foods and farm products were largely responsible for the decline in the general index, with a sharp seasonal drop in egg prices a priioary factor in the decrease registered by these two groups. In addition to eggs, such important food items as dairy products, potatoes, beef, veal, ham and coffee moved downward during the week. Grain prices were generally lower, with all the five grains which are included in the index falling off in price.

Buy Building ft Loan Shares Your Money J3£ays Here, Works Here—Earns Here

Cotton Standards Approved Copies of the 'universal cotton standards for use by European cotton associations and by the United States Department of Agriculture during the next three years have been approved at an international conference at Washington.

SUBMITS REPORT

:•>£* * Jw /' ■KI

George L, Berry

GOLD IMPORTS ABOVEEXPORTS Shipments to U. S. Valued at $2,413,214 in Week Ended March 13. By United Press WASHINGTON, March 21.—Gold imports exceeded exports by almost $4,000,000 during the four-week period ended March 13, the Commerce Department reported today. ■Exports during the period totaled $2,796,564, compared with $6,110,888 shipped into the country. During the week ended March 13, $2,413,214 in gold was received, compared with $540,650 exported. Moderately heavy silver imports were reported for the four-week period, despite a falling off during the last seven days when only sl,055,167 entered the country. During the four weeks $103,907 was exported compared with $11,710,659 imported. Two gold shipments were made during the week ended March 13, the Department recorded. Bullion totaling $532,501 was sent to the United Kingdom and $8,149 to Canada. The largest shipment of gold to the country was made by Russia which sent $919,655. Local Livestock (Reprinted From Late Times Yesterday) HOGS Mar. Bulk. Top. Receipts. 14. 16. 11.10(ffll.20 11.20 3000 17. [email protected] 11.00 4000 18. [email protected] 11.25 4000 19. [email protected] 10.85 4500 20. [email protected] 11.00 3000 Light Lights (140-160) Good and choice. [email protected] Medium [email protected] (160-180) Good and choice.. [email protected] Medium 10.40<W 10.85 (180-200) Good and choice.. 10.90#ll.(?0 Medium 10.50r,710.90 (200-220) Good and choice.. [email protected] (220-250) Good and choice.. [email protected] Heavyweights (250-290) Good and choice.. [email protected] (290-350) Good and choice.. [email protected] Packing Sows (275-350) Good 9.25@ 9.50 (350-425) Good 9.00@ 9.40 (425-550) Good 8.85@ 9.25 (275-350) Medium 8.50 / 9.25 Slaughter Pigs (100-140) Good and choice.. 9.25010.00 Medium 8.25® 9.50 —CATTLE——Receipts, 400— (550-900) Choice $ [email protected] Good 7.75 f0 9.75 Medium 7.25® 8.50 Common 5.75® 7.25 (900-1100) Choice 10 [email protected] Good 8.50@ 10.00 Medium 7.25® 8.75 Commo i 6.25® 7.25 (1100-1300) Choice [email protected] Good 8.50®10.50 Medium 7.25® 8.75 (1300-1500) Choice [email protected] Good [email protected] Heifers (500-750) Choice B.oo® 9.00 Good ...• 7.75® 8.25 Common and medium 5.75® 7.75 (150-190) Good and choice .., 7.75® 9.00 Common and medium 5.75® 7.75 Cows Good 6.00® 6.50 Common and medium 4.75® 6.00 Low cutter and cutter 3.50® 4.75 Bulls, good 6.25® 6.75 Cutter, com. and med. bulls... 5.00® 6.25 VEALERS —Receipts, 500— Good and choice ,$ 8.50® 9,50 Medium 6.50® 8.50 Cull and common 4.50® 6.50 Calves (250-500) Good and choice,... 6.00® 9.00 Common and medium 4.50® 6.00 Feeder and Stocker Cattle (500-800) Good and choice.... 7.‘00@ 8.00 Common and medium 5.50® 7.00 (800-1050) Good and choice.. 7.00® 8.00 Common and medium 5.50® 7.00 Cows Good 4.75® 5.25 Common and medium 4.50® 4.75 SHEEP AND LAMBS —Receipts, 1200— Lambs. 90 lbs. down, good and choice slo.oo®lo 50 Good 9.60® 10.15 Medium 9.00® 9.75 Common 8.90® 9.60 Ewes (90-175) Good and choice... 4.50® 550 Common and'medium 3.50® 4 50 Yearling wethers, good choice 8.75® 9.50 Medium 7.75® 8-90 Produce Markets (Reprinted From Late Times Yesterday) 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 lbs. and over. 11c; geese, lull leathered, all sizes, 10c; all guineas- 1% lbs. and up 15c; No 1 strictly fresh eggs, loss off, 14c: deliver In Indianapolis, 15c. Each lull case must weigh 55 lbs. gross, a deduction :-Z 10 cents a pound under 55 lbs. will be made. No. 1 butter, 35@36c; No. 2. 32® 33c. Butterfat. 29c.

Safe Deposit Boxes The Indiana National Bank of Judianapo'ia

Thomson St McKinnon

NEW YORK CHICAGO TORONTO BOSTON SOUTH BEND • FT. WAYNE EVANSVILLE

Indianapolis Office And other leading Exchange* 200-214 Circle Tower Li. 5501

BUILDING, LOAN GROUPS REPORT INVESTOR GAIN Figures Represent 53 Per Cent Margin in Over Repurchasings. Times Special t CHICAGO, March 21.—The num% Ber of new Investors placing money in building and loan associations during January represented a 53 per cent margin over the number from whom the associations repurchased their holdings, tthe United States Building and Loan League reported today. “No more forceful indication that times have definitely changed for the better can be found,” L. W. Pellett, league president, declared. “The slowing up of the need for repurchase, coupled with the growing use of the savings, building and loan investment plan among those hitherto unacquainted with it not only means amplification of the mortgage funds available for home owners, but the growing ability of the people in ordinary walks of life to live on what they currently make rather than on their savings for a rainy day, and in an increasing number of cases, to save something over and above expenses of living,” he said. 84,000 New Accounts The league estimates that soma 84,008 new accounts in associations were opened during January, compared with about 50,000 for the same month last year. The data for the country are based on reports from five state leagues of asociations geographically distributed so as to give a reliable picture of the situation as a whole. Only one out of five reporting states showed new accounts opened still lagging behind the shares repurchased. Even as late as last July this was the case, with three out of the five states from which regular reports are gathered on investments in the associations. Mr. Pellett expressed confidence that the trend of investments would continue to be upward, and the margin between new accounts opened and existing ones closed would continue to widen in favor of the new accounts. DIVIDEND IS DECLARED Celanese Corp. to Pay 50 Cents on Common Stock. Times Special NEW YORK, March 21. rectors of the Celanese Corporation of America have declared an initial dividend of 50 cents a share on common stock, payable April 15 to stockholders of record April 1, it was learned today. In addition, the directors voted and set aside funds for payment of $1.75 a share on the 7 per cent cumulative series prior preferred, payable July 1 and $3.50 on the 7 per cent cumulative first participating preferred, payable June 30 to stock of record June 16. Unlisted Stocks (Reprinted From Late Timea Yesterday) (By Blyth & Cos.) NEW YORK BANK STOCKS _ , Bid. Ask. Bankers Trust 64% 66% Central Hanover 114 116 Chase 41 42% Chemical National 59% 61*4 Guaranty 300 300% Irvine 16% 16% Manufacturers 49% 51 National City 37 38% Cont 111 Chicago 176% 179** First National Boston 46% 47% National Shawmut 28% 30% FIRE INSURANCE Aetna Fire 55 57% American Ins of Newark 15% 17% Baltimore American B*4 10% City of New York 27 % 29% Federal Ins 52% 55% Franklin Fire 32*4 34*4 Great American Ins 30% 32% •Hanover Fire Ins 39% 41% •Hartford Fire Ins 77 7914 Home Ins 38 39% Ins Cos of A 74 761/ National Fire 77 79* * National Liberty 10% 11% North River 28*4 30 V* Phoenix 92% 943/ U S Fire 56% 58% Westchester Fire 38 40 *Ex-div. Chicago Grain Futures (Reprinted From Late Times Yesterday) (By United Press) Prev. __ , High Low Close Close Wheat— May 98% .97% .97*4 .98% July 89*4 .88', .88% .89% Sept 87% .86% ,87V* .87% CornMay 60% .59% .59% .60*4 July 60% .59% .59% .60% Sept 60% .60 .60 .60% Oats— May 25*g .25% .25* 25% July 26% .25% .25’** .26% Sept 26% .26% .26>4 26% Rye t May 55% .55 .55% 55% July 55 % .54% .54*2* .55% Sept 55% .55 .55 55% Barley— May 40 44 Lard March 10.90 10 90 10.90 tlO 75 May 11.00 10.87 10 90 10.87 • 11.05 10.87 10.90 10.90 •Bid. tAsk. LOCAL CASH MARKET City grain elevators are paying 92 cent* for No. 2 soft wheat. Other grades on their merits. Cash corn new No. 4 yellow 50 cents and oats 21 cents.

r mortgage Kp loans % ° T "„r eU Jested modern •_a Indianapolis Property!. —? 6 17 & INTEREST 4/ 0 Weekly Payment* NO COMMISSION • Home Builders Savings • and Loan Association 1601 Lemcke Bldg.

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