Indianapolis Times, Volume 48, Number 23, Indianapolis, Marion County, 7 April 1936 — Page 20

Trends Factory Assures 52 Pay Checks to Workers. BY JOHN T. FLYNN

VJEW YORK. April 7.—The Presl- -*■ dent calls upon industry to rehire its workers and cut the governent’s relief rolls. This is a challenge to industry. It would not be true to say that industry as a whole has coldly refused to rehire men, Just as it would not be true to say that industry as a whole has not been seeking ways of dealing with this troublous

policy of employment. There are business men who think that all workers who strike are just lazy fellows in search of excitement, just as there are workers who think all business men are acquisitive sharks. Neither notion is true. It is for this reason that from time to time I have liked to call at-

Flynn

tention to the efforts which various employers have been making to work out some means of dealing with various aspects of this perennial puzzle. . One of the specters of the worker is irreguanty of employment, even for the man who has a realtively steady Job. Layoffs haunt him—the annual shutdown for two weeks or four weeks or 10 weeks disrupts the budget of the man whose weekly wage is already so limited that even the loss of a week’s work reduces him to debt. nun ONCE upon a time men were paid monthly. Then business began paying weekly. And so the tenure of the Job is weekly. What if industry could pay men annual wages? The executive frequently has his yearly contract and sometimes a contract running for five years. Is It possible for industry to pay men yearly wages and give them a pay check 52 weeks a year whether the factory runs or not? Well, one plant—and a large one —in the shoe industry has tried this experiment for nearly a year. Here is the way the plan works: The factory plans its business ahead for the year. It knows its capacity and it studies business conditions and its trade carefully enough to be able to say that ir. the coming year it will produce a given number of shoes. It budgets every pp.it of the of making that output. And among other things it puts down a definite sum as the wage element in the cost. n u IT then makes a contract with its workers to pay out to them this money. The wages of men in different categories are calculated according to skill and responsibility. But the wage, having been fixed, is paid to the workers 52 times throughout the year. This industry in the past frequently closed dowm at least four weeks in the year. This meant 48 weeks’ work instead of 52. Now the workers get an assurance of 52 weeks’ work at the same weekly pay as formerly and whether the plant is closed or not. Moreover the contract calls for adjustment of wages both up and down according to prices of shoes. The year’s plans are based on an anticipated price. As the price goes up, the share of labor in the price is automatically augmented. If it goes down, the share is automatically reduced. Thus far prices have risen and labor has been getting the break. Here is one element of security made workable. I Copyright. 1936. by NEA Service, Inc.)

VALUE OF 50 STOCKS CLIMBS DURING WEEK Issues Listed on "Biff Board" Show Increase of 9.28 Per Cent. Timr * Special NEW YORK. April 7.—The total market value of 50 representative stocks listed on the New York Stock Exchange at the close of business for the week ended April 4 was $20,229,740.500, an increase of $1,802,000.500, or 9.28 per cent over the previous week. Paul H. Davis & Cos. announced today. In the preceding week the total amounted to $19,427,740,000. while at the close of the corresponding week a year ago, the same 50 stocks had a market value of $10,790,773,375. indicating an increase of $9,438,967,125 or 87.47 per cent. KINNEY SHOE SALES - RISE 46 PER CENT Mrll Abbott, Local Manager. Reports Gain for First Two Months. Sales from 160 Kinney shoe stores located in the Midwestern district increased by approximately 46 per cent during the first two months of the current year, compared with the corresponding 1935 period, Mell Abbott, manager of the Indianapolis store which opened recently at 138 E. Washington-st, announced today. In January the increase amounted to 25 per cent, compared with 21 per cent in February. Prospects were exceptionally good during the first two weeks of March with indications of a 43 per cent gain. The G. R. Kmney Cos., operating more than 370 stores in 32 states and five shoe factories, specializes in producing and selling quality shoes of smart fashionable design for the entire family at moderate prices. JOINS LOCAL FIRM Edward Richardson Appointed to Staff of W. L. Lyons & Cos. Edward Richardson, Indianapolis resident who for the last six years has held positions with New York Stock Exchange brokerage firms, has been appointed to the sales organisation of W. L. Lyons & Cos.. Russell McDermott, local manager, announced today. ; Mr. McDermott also announced installation of anew Trans-Lux ticker service for New York Curb Exchange quotations. Local offices Cl the Lyons firm are located in the Circle Tower.

PAGE 20

UTILITIES SEEK WAY TO AVOID ’DEATH CLAUSE’ Exchange of Subsidiaries Is Studied as Possible Remedy. BY W. lAN MACK Times Special Writer NEW YORK. April 7.—Major public utility systems today were reported to be negotiating with each other for the exchange or sale of non-integrated operating subsidiaries so that they might be immunized against enforced dissolution under the holding company act’s “death clause” provision. These discussions are designed primarily to fortify the/companies against the eventuality of an adverse Supreme Court ruling in their contest on the statute’s constitutionality. On the other hand, despite a growing conviction among executives that the law inevitably will be invalidated because of allegedly radical restrictions imposed upon companies generally, a number of barter conversations are proceeding on the premise that resultant deals are logical maneuvers that should be reflected in substantial operating economies.

Systems Mum on Plans Their concomitant, it was indicated, should be betterment in the ration of net income to capitalizations and valuations. Just what projects are in contemplation, however, could not be ascertained, holding company officials preferring to remain uncommunicative on the subject. But in banking circles usually identified with utility financing, it was developed that proposals respecting property exchanges are receiving serious consideration with holding companies surveying the national power map to determine to what extent their system could be more completely integrated by such deals. Many Problems to Overcome Virtually all of the 20-odd principal holding companies, well-in-formed sources implied, would welcome arrangements that might result in the creation of closely knit systems, but the exercising extreme caution in executing plans thus far developed. That they are justified in their hesitancy is evidenced by the fact the industry as a whole represents an investment of more than $12,500.000,000, a considerable proportion of which would be affected by the negotiations. Innumerable problems present themselves in programs involving even the smallest of properties. These include, among other factors, earnings, rates, funded debt, junior capitalization, valuation and those broader economic and financial influences relating to rate controversies, pressure for municipal ownership, duration of franchises, potentialities of the consuming territory with respect to domestic, industrial and commercial consumption and taxation uncertainties.

Local Securities \ (By Indianapolis Bond & Share Corp.) The following quotations do not rep-1 resent actual bids or offerings, but merely indicate the approximate market level oh buying and selling inquiries or recent transactions. BONDS Bid Ask Home T & T Port Wayne 6',*. .103 105 Home T & T Fort Wayne 6 103 106 Indianapolis Railways Inc 65 68 Indianapolis Water Cos 4'/as .. 106 108 Indianapolis Water Cos 5s 105 107 Indianapolis Water Cos 5s 105 107 Indianapolis Water Cos 5V* 104'/* 106 Indianapolis Water Cos 5Va 104'/* 106 Interstate T <fc T 5'2 97 99 Kokomo Water Works 5 104 105'/* Morris 5 & 10 Stores 5 100 103 Muncie Water Works 5 103 Vt Noblesville Heat Lt. Pwr s'/*... S'3 IOO'/a Ohio Telephone Serv 6 . .... 97V* Richmond Water Works 5 105 106V* Seymour Water Cos 5 101 104 Terre Haute Trac & Light 5.. 106 108 Terre Haute Water Wks 102 104 Terre Haute Water Works ... 103 105 Traction Terminal Cos 5 75 78 STOCKS Belt, R R & Stock Yards Com 53 55'* Belt R R & Stock Yard pfd 6 52 Central Ind Pwr pfd 7 19'/* 22V2 Home TANARUS& T Port Wayne 7 52'* 54V* Hook Drugs Inc com 17 iBVi Ind <V Mich Elec Cos nfd 7 103'* 106’* Ind General Service Cos 6 97 99'* Ind Hydro Elec Cos 7 55'/* 58'2 Indianapolis Gac Cos com 6... 34 37 Indpls Pwr &Lt Cos pfd 6. .. 89'* 92'/* Indpls Pow &Lt Cos pfd 6'/* . 93'* 96',•> Indpls Water Cos pfd 5 .. . 102 105 •North Ind Pub Serv pfd s'/*s 63'/* 66V* •North Ind Pub Serv pfd 6 ... 73V* 76'* •North Ind Pub Serv pfd 7 80'/* 83V* Progress Laundry Cos com 10 11'* Pub Serv Cos of Ind pfd 6 24'4 27'A Pub Serv Cos of Ind pfd 7 ... 46 48 South Ind Gas & Elec pfd 6.. 98'* 101'* Terre Haute Electric Cos 89 911/, Union Title Cos com 19'A 21'* •Ex-dividend. Unlisted Stocks (By Blyth <fc Cos.) NEW YORK BANK STOCKS _ . _ . Bid. Ask. Bankers Trust 60 5 * 62" s Central Hanover 113 115 Chase 395, 4114 Chemical National 58 5 60'. Guaranty 293 296*. Irving 163* ir, Manufacturers 493, 511. National City 35"* 37 Cont 111 Chicago 165 168'i First National Boston 46'* 47’* National Shawmut 28'* 29 7 s FIRE INSURANCE Etna Fire Ins 57 5914 American Ins of Newark .... 1534 171. Baltimore American 9'* 10 s * City of New York. 27->4 29 3 4 FV-deral Ins 49 52H Franklin Fire 32 5 i 34', Great American Ins 31 32 s * Hanover Fire Ins 37'* 39'* Hartford Fire 78 80'. Ins Cos of A 74 76 3 4 Home Ins 3934 41% National Fire 78 80'* National Liberty 10U 11\ North River 27’* 29"* Phoenix 92 95'* U S Fire 56'* 58'* Weschester Fire 37'* 39'* Chicago Grain Futures Wheat— High. Low. A M Close. May 943* .94' * .94"* .94'* July 85' * ,84 1 4 ,84 7 .84*4 Sept 84 .83 3 4 .83 3 4 .83*4 Corn— May .59 ,59'i .59'i ,59 s * July 59 .59 .59 .58’* Sept 58'4 .58'* .58 '2 .58- 1 * Oats— May 25‘4 .25'* ,25 1 .25'4 July 25 7 . .25’* .25’s .26 RyeMay 52 1 .52'* .52' .52>4 July 52 .52 .52 .51’, LOCAL CASH MARKET Cttv grain elevators are paving 87 cents for No. 2 soft wheat. Other grades on their merits. Cash corn new No. 4 yellow 48 cents and oats 18 cents. WAGES EXCEED 1935 Time Special DETROIT, April 7.—A ver ag e hourly rates paid by member companies of the Automobile Parts and Equipment Manufacturers, Inc., was 62.9 per cent in January, compared with 60.3 a year ago, according to the association*

Abreast of The Times on Finance

FIRM HEAD HONORED

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More than 200 members of the Home Office staff of the State Life Insurance Cos. of Indianapolis attended the “president’s dinner’ and entertainment honoring Robert E. Sweeney (above) at the Indianapolis Athletic Club last night. The dinner closed the thirteenth annual “President Sweeney Month” campaign of the firm, in which field representatives in 27 states took part.

HOG PRICES 15 CENTUOWER Few Lightweights Steady; Cattle Market Weak; Vealers Even. Influenced by a sharp increase In receipts, the swine market turned generally 15 cents lower on weights ranging from 160 pounds and upward today at the Indianapolis Union Stockyards. Light lights and slaughter pigs remained about steady, however. The total number of receipts was estimated at 5000, compared with only 3500 yesterday. Only 59 head of hogs were held over from the preceding session. Interest was around normal among the various classes with the top price dropping to $10.95. The - general bulk of 160 to 225 pounds cashed in at $10.50 to $10.95. Medium weights, scaling 250 to 275 pounds, sold at $10.45 to $10.55. Heavy packing grades, from 325 pounds and upward, were salable at $9.90 to $10.05. Light slaughter pigs, from 130 to 160 pounds, sold at $10.25 to $10.75. Packing sows held at $9.25 to $9.75. Trading was active and mostly steady in the cattle market, excepting a few steers which were ■weak to slightly lower. The bulk of steers was valued to sell under $9, with common to medium kinds at $7 to $8.50. Beef cows brought $5.50 to $6.50. Receipts numbered 2500. Vealers again continued stationary, with the bulk of good and choice kinds salable at $lO to $10.50. Receipts were 600. The lamb market was generally steady. Good natives held at $lO down. A single deck of strictly choice lambs, weighing 90 pounds, sold at $9. Scattered native spring lambs ranged from sl2 to sls. Receipts were 700. Local Livestock HOGS April Bulk. Top. Receipts. 1. [email protected] $10.90 4000 2. 10.75(a10.85 10.90 3000 3. 10.90(1111.00 11.00 3000 4. 10.90(611.00 11.00 1000 6. [email protected] 11.10 3500 7. 10.85® 10.95 10.95 5000 Light Lights (140-160) Good and choice. .$10.25(610.85 Medium 9.75(6:10.25 (160-180) Good and choice.. 10.85(610.95 Medium .... 10.40# 10.85 (180-200) Good and choice.. 10.85(610.95 Medium . 10.55(6)10.85 (200-220) Good and choice.. 10.85(6 10.95 (220-250) Good and choice.. 10.65®10.85 Heavyweights (250-290) Good and choice.. 10.35610.65 (290-350) Good and choice.. [email protected] Packing Sows (275-350) Good 9.65# 9.85 (350-425) Good 9.35(6 9.55 (425-250 Good 9.10(6 9.60 1275-3501 Medium 8.90@ 9.75 Slaughter Pigs (100-140) Good and choice.. [email protected] Medium 8.50® 9.75 CATTLE —Receipts. 2500 (550-900) Choice $ [email protected] Good '. _ 7.75® 9.75 Medium 7.25® 8.50 Common 5.75® 7.25 (900-1100) Choice [email protected] Good [email protected] Medium 7.26(6 8.50 Common 6.25# 7.25 (1100-1300) Choice [email protected] Good [email protected] Medium 7.25@ 8.50 (1300-1500) Choice 10.00@ 10.75 Good [email protected] Heifers (500-750) Choice 7.75® 8.75 Good 7.25@ 8.00 Common and medium 5.75® 7.25 (150-190) Good and choice.... 7.25(6! 8.75 Common and medium 5.50® 7.25 Cows Good 6.00# 6.75 Common and medium 5.00® 6 00 Low cutter and cutter 3.75® 5.00 Bulls, good 6.00® 6.50 i Cutter, com. and med. bulls.. 5.25® 6.25 VEALERS —Receipts, 600 — Good and choice $9.50® 10 50 Medium [email protected] Cull and common 5.50® 8.00 Calves (250-500) Good and choice .... 6.25® 9.25 Common and medium 5.00@ 6.50 Feeder and Stocker Cattle (500-800) Good and choice ... 7.00® 825 Common and medium 7.50® 8 25 (800-1050) Good and choice .. 7.25® 8.65 Common and medium 5.50® 7.25 Cows Good : 4.75@ 5.25 Common and medium 4.50® 4.75 SHEEP AND LAMBS , . —Receipts. 700— Lambs. 90 lbs. down, good and choice [email protected] S°° and 9.50® 10.00 Medium 9.00(a) 9.75 E ,V e ° s mmon 7.75® 9.00 190-170) Good and choice.. 4.50® 5.50 Common and medium 3.50® 4.50 Yearling wethers, good choice. 9.00® 9.50 Medium 7.75® 9.00 Produce Markets (By United Press) re£2?nE A<^9'-iv pril 7 ~ —Market, firm; receipts, 34 i9O cases: fresh graded firsts. t7i .?£s?* S i ts ‘ cur rent receipts, 1 %J C ’ JH rtl S s ' 16 checks. I5 3 c. Butter 7^ a firth flr 0 J ? : Q , I ; eceipts ' n -623 tubs, ex*£s firsts (90-91 & score >, 30 Vic; extras i?? n f core >- 30v2C; firsts (88-89' 2 scorei 30 S,® 0 * c ’ p *Pe c:als - 3 J^ 3l ' jc: standards, JO<2C. Poultry—Market, steady; receipts. 16 trucks. 1 car due; ducks. 17%@23c; geese. 13# l?c; spring chickens. 25 i 27c: hens. 18 a 22c; turkeys. 23@26c; capons. 25 @26c: Leghorn ?ns, 13@18%c; old roosters, 16%c; bro.iers. 20@26c; fryers. 25 J) 27c. Cheese Twins. 14Vi&14%c’ Daisies. 14A@18c; Leghorns, 14%@15c! Pprj-ocs —Supply moderate, market steady Idaho Russet Burbanks. *197%@2 25 U S *i%V Wisconsin round whites; $1.20® L4O; North Dakota Cobblers. $1.25 Early Ohios unclassified. $1.45® 1.55; Minnesota Cobblers. $1.35; Colorado McClures SS.nS: “) “ ,r,ck ' m - USED OFFICE FURNITURE Repairing—Refinishing W. C. BRASS 134 S. Meridian. HI-9727

TUESDAY, APRIL 7, 1936

RAILS SPEND HALF BILLION FOR SUPPLIES . Fuel and Material Costs During 1935 Slightly Under 1934 Mark. Time Special WASHINGTON, April 7.—Railroad purchases of fuel, material and supplies during the year 1935 aggrej gated $593,025,000, according to | complete reports filed by the carriers j with the Bureau of Railway Ecoj nomics of the Association of | American Railroads, and made public today. This is slightly below the 1934 supply bill, which amounted to $600,224,000, but is higher than 1933 when they totaled only $465,850,000. In 1929 the railroads spent $1,329,535,000 for supplies. Only in the case of fuel did the railroads spend more money last year than they did in 1934. The 1935 fuel item was $232,723,000, whereas in 1934 it was $217,294,000. Bituminous coal last year cost slßl,656,000; anthracite coal, $3,464,000; fuel oil, $41,995,000, and gasoline, $3,001,000, while coke, wood and fuel for illumination amounted to $2,607,000, Steel Goods Cost $156,914,000 Forest products purchased, including cross ties, switch and bridge ties, both treated and untreated, timber and lumber for bridges and buildings, equipment, etc., both r.ough and finished lumber, and other items under this heading, amounted to $57,367,000 in 1935 as against $64,271,000 in 1934. Cross ties cost the railroads $37,266,000 last year and timber and lumber $17,178,000. Iron and steel products last year cost $156,914,000 as compared with $159,758,000 in 1934. The biggest item in this grouping was to be found in locomotive and car castings, beams, couplers, frames and car roofs, amounting to $22,054,000. Steel rails last year cost the railroads $20,576,000. Another important item found in this classification of purchases was interlocking and signal material amounting to $6,378,000, and standard and special mechanical appliances for locomotiives, amounting to $6,477,000. Miscellaneous purchases amounted to $146,021,000 in 1935 compared with $158,901,000 in 1934.

New Bond Issues (By W. L. Lyons & Cos.) a ~ . . , Bid. Ask. A?s° c Tel Ltd Ist 4s ’65 104% 105 Vi Atlanta Gas Lt Gen 4Vas ’55 ..100% 101 Va Balt & Ohio Sec Note 4*/aS ’39. 98% 99Vt Blackste Val G & E Coll 4s '65 lOBV4 108% L’oston & Albany Ist 4V 2 s ’43 .102% 103V 2 Carriers & Gen Cor Deb 5s ’50.106% 107% Cent Maine Pwr Ist 4s ’6O 10) V* 101% Cent 111 Lt Ist 3Vis ’66 105’/4 105% Chgo Union Sta 3%s ’63 105% 105% Cleve Elec Ilium Gen 3%s ’65.. 109% 109 Va Cleve Tractor Deb 5s ’45 106 Columbus Rwy P & L 4s ’65...105V4 105 Va Canadian Govt 3V 4 s '6l 993/4 10 0 Vs Conn River P & Ist 3%s ’6l 104 104% Consumers Power 3'/as ’7O 103% 103% Cont Steel Deb 4%s ’46 102 102% Cudahy Packing 3%s '55 101 3 /* 1013% Ditto Conv 4s ’SO 104 104 3 / s Dayton P& L Ist 3V 2 s ’6O 1053% 106 Duquesne Lite Ist 3VaS '65 ....106% 106% Eastern Gas & Fuel 4s ’56 96V4 96 3 / 8 Edison El Illus Bost 3Vas ’65.. 1053% 105% Hiram Walker 4V 4 s ’45 106 Inland Steel Ist 3 3 / 4 s ’6l 103% 103% lowa South Util Ist 5%s ’SO ..102 ... Jones & Laughlin Ist 4>'4S ’6l. 98% 98% Kansas P& L Ist 4%s ’65 . .108 108 3 /s Keystone Wire & Steel 4s ’45. .100 Loews 3VaS ’46 96Vs 96 3 / 4 Los Angeles G & E 4s ’7O 104 Va 104 3 / 4 Louisville & Nash 4s 2003 100% 101 Maine Cent Ist & Coll 4s ’45.. 99Vs 100 Metro Edison Ist 4s ’65 106'/s Monon W Penn Pow 4%s '60.103V* 103% N Y Cent 33/4 '46 98 98V 4 Natl Dairy 3% ’sl 102% 102% N Y Edison Ist 3'/ 4 s ’65 1013/4 102 Norway Kingdom of 4%s ’56 .100% 1003/4 Ohio Edison Ist 4s '65 104% 1043/4 Pacific Lighting Deb 4%s ’45..105 3 4 106% Pacific Gas & El 3%s ’6l 103 Vs 103% Penn R R Gen 3%s ’7O 100% 100% Penn Tel Ist 4s ’65 105% 106% Pub Ser N Hamp Ist 3%s ’6O 105 105-% Pub Serv Okla Ist 4s ’66 .. 102 3 /* 102 3 / 4 Railway & Lite Conv 4%s ’55 .110 111% Revere Cop & Brass 4%s ’56 103% 103 3 /4 Sa Diego G & E Con Ist 4s ’65 108 108% Sharon Steel 4%s ’57 107% 108% Shell Union 3%s ’sl 95% 96 So Calif Gas Ref 4s ’65 1043/* 10434 S Cal Edison Ist & Ref 4s ’6O 107 107% So Cali Deb 3%s '45 . 103% 104 Southwestern G & E 4s ’6O 101% 102% Staley A E Ist 4s ’46 104 104% Virginia Rwv Cos 3%s ’66 1023* 103 West Penn Power Ist 3%S ’66 105% 106 Wheeling Stee Ist 4%s '66 101% 101% Investment Trusts (By Thomas D. Sheerin & Cos.) Bid. Asked. •Administered Fund 2nd $17.08 $18.17 •Affiliated Fund, Inc 2.03 2.22 •American Gen Equities 1.12 1.14 Amer Business Shares 1.21 1.31 Broad St Inv 29.77 31.84 Bullock Fund. Ltd 18.80 20.25 Century Shares Trust 26.67 29.75 Collateral Tr Shares “A”.... 6.76 6.33 Corp “AA” or “Accum” (Modi 3.45 3.48 Cor “AA” or “ACC” (Unmodi 2.74 2.77 Cor Trust Shares (Orig) ... 2.87 2.91 Diversified Tr Shares ”8”... 10.78 ~ ... Diversified Tr Shares “C" ... 4.68 4.72 •Diversified Tr Shares “D”.. 6.93 7.01 Dividend Shares. Inc 1 96 1.34 General Inv Tr 6.08 6.68 •Incorporated Investors 22.80 24.66 Investors Fund Amer 1.09 1.20 •Market St Investment Corp 31.65 33.31 Maryland Fund 19.85 21.45 •Massachusetts Investors .... 26.09 23.36 Nation-Wide Sec Cos “B” 4.48 ... Nation-Wide Voting 1 83 1.98 No Amer Tr Shs 1955 3.44 3.48 No Amer Tr Shs 1956 3.40 3.44 No Amer Tr Shs lOr'.g) 2.63 ..... Quarterly Income Shares .... 1.62 1.79 Representative Tr Shares 12.88 Selected Amr Shars. Inc . .. 1.60 1.75 Selected Amer Shares )Orig). 3.78 ..... Selected Cumulative Shares.. 9.76 9.36 Selected Income Shares 5.09 5.19 •State St Invest Corp 101.50 106.50 Super-Corp of America “A”.. 2.88 2.92 Super-C'orp of America “B” 2.92 2.96 Super-Corp of American ”A’’ 4.34 4.39 Super-Corp of America ”B” 4 53 4.58 Super-Cor of Am “C” & “D” 8.36 •Supervised Sh. Inc <Delai 13 67 14.86 Trustee Stand Oilshares “A” 7.64 7.7! Trustee Stand Oilshares “B” 6.84 6.92 Trustee Stand Invest 3.05 3.09 Trustee Stand Invest “D”.... 2.99 3.02 Universal Trust Shares 4.45 Uselps “A” 19 10 Uselps “B” 2.97 Uselps Voting 1.16 ..... United Standard Oilfunds,... 1.35 1.48 •Ex-dividend. FRUITS AND VEGETABLES (By United Press) CHICAGO. April 7.—Apples—Michigan Mclntosh, bu., [email protected]. Carrots—lllinois, bu„ 30®35c. Sweet Potatoes—Tennessee, bu.. $1.25. Beans —Florida, bu., $3.25® 3.-. Cabbage—Florida, bu., [email protected]. Peas— California, bu. hampers. [email protected]. Spinach—Texas, bu.. 40® 75c. Lettuce—Western, cartes 5 doz.. *2.75@3. Celery—Florida. crate, [email protected]. Tomatoes—Mexican, lgs. s3@4. Cauliflower—California, crate, sl6s® 1.85. Onion market (50-lb sacks): Illinois vellows. 40@65c: Michigan yellows and Indiana yellows, 40®65c; Texas yellows, [email protected].

® Use Lilly’s Paints WSFZm n ‘"‘ G ""’’ $2.70 Fsctsry *“** to IOU Ask for Color Cards & Free Estimates WILLIAM LILLY PAINT CO. ■ >- 2044 N. Rural St. CH. 0944i

Employment s- Payrolls W—HninMtfffltillfflfffilMj j 100 |SLJ 1 1 1 1 1 | ? * 1 I r "i I \ l l 1 | 1 l |l ii c so —X ? rX gMPLOrMtNT^ —Hr I oo AJ ' l 50 “NttyayrollS / ' ***7 V >] / cent 40 100 Nr™ yy 80 pQ

Employment in manufacturing industries rose to 83.3 per cent of the 1923-25 average in February from 83.1 per cent in January. This increase, however, was less than is seasonally normal and the adjusted index declined to 83.6 per cent of the 1923-25 average from 84.8 per cent. There was also a slight increase in pay rolls. However, the gain was less than seasonal, due to the fact that wage rates, as well as the number of hours worked a week, were not increased by the usual amount in February. The adjusted index of pay rolls accordingly dropped to 71.1 per cent of the 1923-25 average from 75.6 per cent, the level ruling a month earlier.

New York Stock Exchange Prices

(By Thomson Sc McKinnon) 11:15 A. M. Prev. Oils— High. Low. N. Y. close. I Atl Rfg 34%333/4 3 / 34% 34% I Barnsdall 19% 19% 19% 19Vs j Consol Oil 14% 14'/a 14% 14% I Cont of Del 36% 36 36 36'/s Houston (new).. 10% 10% 10% 10% Mid Cont Pet... 23 22% 22% 22% Ohio Oil 15 14% 14% 14% Pet Corp 16% 16% 16% 16% Phillips Pet 48% 48% 48% 48% Plymouth 0i1... 16% 16% 16% 16% Pure Oil 23% 23% 23% 23% Seaboard Oil ... 38% 38% 38% 38% Shell Un 17% 17% 17% 17% Soc Vac 15 14% 14% 14% SO of Cal 46 45% 45% 45% SO Os Ind 39 Vs 39 39 Vs 39 Vs SOof N J 67% 66% 67% 66% Texas Corp 39 38% 38% 39 Tidewater Assn 18 17% 18 17% Un Oil of Cal .. 27% 27% 27% 27% Steels— Am Roll Mills.. 31% 31% 31% 31% Beth Steel 63% 62Vs 62% 63Vs Byers AM 24% 23% 23% 23‘/a Cruc Steel 39 39 39 39% Ludlum Steel ... 31% 31% 31% 31% McKeesport Tin 109% 109% 109% 110 Mid Steel 47% 46Va 46Va 47% Natl Steel 69Va 68% 68% 70 Otis Steel 19% 19Va 19% 20 R';p Iron & Steel 25% 25% 25% 25% U S Pipe & Fdy 38% 38 38 38 U S Steel .. ... 71 70% 70% 71% U S Steel pfd... 130 129% 129% 130 Warren Bros .. . a% 9Vs 9Vs 9% Warren Pipe-Fdy 27 Va 27 27% 27 Yungstwn S& T 57% 57 57 57% Motors—■ Auburn 49% 49% 49% 49 7 / 8 Chrysler 102% 101% 102% 101 Gen Motors .... 70% 69% 70 70% Graham Mot ... 3% 33 3% Hudson 18% 18% lay. 19 Mack Truck 36% 36% 36% 36% Nash 20% 20% 20Va 20% Packard 12 11% 12 12 Studebaker 14% 14% 14% 14% Yellow Truck .. 19 18% 19% 19% Motor Access— Bendix 29% 29% 29% 29% Bohn Alum 57% 57% 57% 57% Borg Warner ... 81% 81% 81% 81% Briggs 61% 61 61 61% Budd Mfg 14 13% 13% 14 Budd Wheel ... 11% 11% 11% 11% Eaton Mfg 36Vs 36% 36Vs 36% Elec Auto Lite . 42% 42% 42% 42% Greyhound “B”. 60% 60 60 60% Houdaille 29 29 29 29% Murray Body ... 20% 20 20% 19% Stew Warner ... 23% 23% 23% 23'% Timken Roll .... 68 68 68 69% Timken Det Axle 17 17 17 17 Mining— Alaska Jun 15 15 15 14% Am Smelt 86 84 % 86 85 Anaconda 38% 38 38% 38% Cal & Hecla 9% 9% 3% 9% Cerro De Pasco. 56% 55% 56% 56% Dome Mines 44% 44% 44% 44% Gt Nor Ore .... 19 19 19 19 Howe Sound ... 54 53Va 54 54 Ins Gopner 12% 12V 2 12% 12% Int Nickel 49‘/a 49% 49 % 49% Kennecott Cop.. 40% 4040% 40% Mclntyre Mine.. 41% 41 Va. 41% 42% Park Utah 4% 4Va 4Va 4Va Phelps Dodge .. 38% 38'/a 38% 38% U S Smelters 93% 91% 93% 90% Vanadium 24 Va 24 Va 24 Va 24% Amusements— Crosley Radio .. 22% 22% 22% 23 Loews Inc 47% 47% 47% 47% Radio Corp 13% 13% 13% 13Va Paramount 9% 9 9 9% 5K O 7% 7% 7% 7% Warren Bros .... 12 liy 8 12 12 Tobaccos— Am Snuff 63 63 63 62% Am Sum Tob 24% 24% 24% 25 Am Tob (A) 92% 92'% 92% 92 Am Tob (B> . 94 92% 94 94 Ligg & Myrs (B). 103 102% 102 101% Lorillard 22% 22% 22% 22% Phillip Morris 73% 73% 73% 74 Reynolds T (B) 53% 53% 53 Va 53% Rails— Atchison 78% 78% 78% 78% At! Coast Lines.. 30 29% 29Va 30 g& O . ■ 21% 21% 21% 21% Can Pacific .... 13’% 13Vs 13% 13% Ch & Ohio 58 57% 57% 57V Chi & Gt W pfd 6% 6% 6% 6% C M & St P 2Vi 2% 2% 2Vs C M & St P pfd 4% 4% 4% 41/s Chi N W. ... 3% 3% 3% 3% Dela & Hud ... 47% 46% 47 47% Del Lac & W 20% 20% 20% 20% Gt North pfd ... 39% 38% 39% 31 111 Central 26 25% 26 26% K C Sou 24 Va 24% 24% 24% Lehigh Valley . 12% 12% 12'% 12% Lou & Nash ... 76% 76 76 77 MK & T pfd.. 24% 24% 24% 24% Mo Pac pfd .... 6% 6% 6% 6% N Y Cent 39 Vs 38% 39 39 Norfolk & West 233 Va 233% 233% 231 Nor Pacific 34% 34 34% 34% Penn R R 35% 35 35>4 35 Sou Pac 17% 17% 17% 17 u Union Pac 132 131 131 133% West Maryland.. 10% 10% 10% 10% Equipments— Am Brake Shoe.. 49% 49% 49% 49% Am Car & Fdy. 36 36 36 36 Am Loco 31% 31% 31% 31% Am Steel Fdy .. 30% 30% 30% 30% Bald Loco 4% 4% 4% 4% Gen Am Tk Car. 49% 49% 49%- 49V, Gen Elec 40% 40% 40% 40% Pullman Inc ... 44 44 44 441; West Air Br 44 44 44 44% Westingh Elec ..122% 121% 121% 122% Utilities— Am & For Pwr. 9% 9% 9% 9% Am Pwr & Lit.. 13 12% 13 12Vs AT&T 167% 167 % 167% 167% Am Wat Wks.. 24% 23% 24% 23% Col Gas & Elec 21% 20 7 / 21% 21 Comm & Sou .. 33 33% Consol Gas 35% 34% 35% 34% Elec Pwr &' Lit. 14% 14Va 14% 14% Int Hydro Elec.. 3% 3% 3% 3% Int TANARUS& T 16% 16% 16% 16% Nat Pwr & Lit.. H% 11% 11% 11% North Amer 28% 28 28% 27% Pac G& E .... 39% 39% 39% 39% Pub Serv N J... 41% 41 41 40% So Cal Edison... 27% 27% 27% 27% Std Gas 8% 8% 8% 8% Stone & Webster 20% 20% 20% 20% United Corp ... 7% 7% 7% 7% Un Gas Imp ... 16% 16% 16V* 16% Ut Pwr & Lt A . 6% 6% 6% 6% Western Union.. 89% 89Va 89% 89% Rubbers— Firestone 30% 30% 30% 31 Vi Goodrich 19% 19% 19% 19% Goodyear 28% 28% 28% 28% U S Rubber 29% 28% 28V* 29'% Miscellaneous— Allis Chalmers.. 50 50 50 50% Am Can 121 121 121 121% Anchor Cap 24% 24% 24% 24% Brklyn Man Tr.. 49% 49% 49% 49% Burroughs Add.. 29% 29% 29% 29% Conti Can ... 80 80 80 80% Caterpillar Tract 78% 78V* 78% 78% Crown Cork ... 54% 51% 51% 54% Curtis Pub 21 % 21% 21 % 21 Vi Foster Wheeler.. 36% 36 36% 36% Gillette 17% 17V* 17V, 17 Glidden 54% 53% 53% 53 Va Ingersol Rand ..126 126 126 129 Inter Harv 89 88% 89 88% Natl Cash Reg.. 28% 28V* 28% 28% Owens Bottle ...159 159 159 159 Rem Rand 21Va 21% 21% 21% Foods— Am Sugar 55 55 55 56>i Armour 5% 5% 5% 5% Borden Prod 27% 27% 27% 27% Cal Packing 33% 33% 33% 33% Can Dry G Ale.. 13% 13% 13% 14% Coca Cola .... 90 90 90 90 Cont Bak ‘A"... 36% 16% 18% 17% Crm of Wheat . 35 35 35 35 Cuban Am Sugar 11% 11% 11% 11% Gen Baking 12% 12% 12% 12% Gen Foods 36% 36% 36% 36%

Gold Dust 19% 19% 19% 19% G W Sugar 35% 35% 35% 35% Natl Biscuit .... 35% 35 35 35% Natl D Prod 23% 23Va 23Va 23 Va Purity Bak 13% 13% 13% 13% S Porto Rico Sug 32>/a 32'/a 32% 32% Std Brands 16% 16V* 16V* 16% United Fruit ... 75 75 75 75% Retail Stores— Allied Stores ... 8 1 /, 8% 8 7 / 8% Assd Dry Goods. 17 17 17 17% Best &Cos 55Va 55% 55% 56 First Natl Stores 45 Va 45 '/a 45% 45% Gimbel Bros 10 9% 9 7 /* 10% Jewel Tea 72 72 72 71% Kresge S S 23 22% 22% 22% Kroger Groc .... 24% 24% 24% 24% Macy R H 46% 46% 46% 46% McLellan St 14 14 14 13% Marshall Field .. 18% 18% 18% 18% May Dept St ... 49 49 49 48% Mont Ward 44% 44V* 44% 44% Natl Tea 9% 9% 9% 9% Penney JO 77 77 77 76% SafewaySSt 3 7/ 33% 33V* 32% Sears Roebuck .. 69 68% 68% 69 Woodlworth .... 50% 50 50 50% Aviation— Aviation Corp... 7'/* 7 7 7V Boeing Aircft ... 23 23 23 23Vs Curtiss Wright.. 6% 6% 6% 6% Curtiss Wr '‘A”. 17% 17 17 17% N. Y. Bonds (Reprinted From Late Times Yeserday) DAILY BOND INDEX 20 20 20 60 Inds. Rails Util. Bonds Today 91.9 92.8 104.8 96.5 Saturday 91.9 92.7 105.0 96.5 Week ago 91.9 91.6 104.9 96.1 Month ago 92.6 94.4 105.3 97.4 Year ago 85.2 74.1 95.2 84.8 1936 high 93.4 95.6 105.5 97.9 1936 low 91.5 84.7 103.5 93.3 (Copyright, 1936, by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasury* Prev. Close. close. 4%S 1947-52 117.29 117.27 4s 1944-54 112.22 112.22 3%s 1946-56 111.1 103.31 3%s 1940-43 108.16 108.15 3%s 1943-47 108.4 108.4 3 Vis 1943-45 107.22 107.20 3 Vis 1941 108.29 108.28 3Vis 1944-46 107.10 107.10 3VsS 1946-49 105.21 105.19 3s 1951-55 104.8 104.4 3s 1946-48 104.25 104.21 2Vi S 1945-47 103 102.31 2%s 1951 101.31 101.27 Home Owners Loan Corp. 2%s 1949 101.23 101.21 3s 1952 101.25 102.23 Federal Farm Mortgage Corp. 3 Vis 1964 104.4 104.4 3s 1949 102.29 102.29 3s 1942-47 103.19 103.19 DOMESTIC Prev. Close Close Alleg Corp 5s ’44 94 94 Alleg Corp 5s ’49 6 88Va 87% Am Frgn Pow 5s 2030 76% 76% Am Tel & Tel 5%s ’43 113 Va 113% Am Tel & Tel 5s '65 .113% 113% Arm &Cos (Del) 5%s ’43 .... 97% 97% Atl Coast Line 4s ’52 98 98V* Atl Coast Line 4%s ’64 85 85 Atch Top & S Fe 4%s ’4B 111 Vi 111% Am Wat Wks 5s ’44 109% 108 Am Rolling Mills 5s ’3B 126 125 Balt & Ohio 6s ’95 96% 95% Balt & Ohio 4%s ’6O 73 % 73% Buff Roch & Pitt 4%s ’57 ... 81 Vi 80% Beth Steel 4%s ’6O 105% 105% Chi Milw &StP 5s ’75 23% 23% Chi Milw & St P 5s 2000 7% 8 Cleve Un Term 5s ’73 106% 106% Cleve Un Term 4V2S ’77 101% 101% Col Gas 5s May ’52 103% 103% Col Gas ’6l 103 103 Can Pac Perp 4s 93 92 % Cent Pac 5s ’6O 97 7 / 97Vs Big Four 4%s ’77 91% 91% Big Four 5s ’63 98% 98% Colorado &So 4%s ’BO 74% 74% Chi & West Ind 4s ’52 104% 104% Chi & West Ind 5%s ’62 106% 106% Chi & Nor West 4%s ’49 13% 14 Con Gas 5s ’57 103% 103% Chesa Corp 5s '47 131 130% Del & Huds 4s ’43 86 86% N Y Dock 4s ’sl 68 71 N Y Dock 5s ’3B 68 67% Erie 5s '75 79 78 % Erie 5s ’67 79 79 Gen Cable 5%s ’47 105V4 105% Grt Northern 7s ’36 101.16 101.16 Grt Northern 4%s ’76 101% 102% Grt Northern 4%s ’77 101% 101% Hud & Manhat Ref 5s ’57 ... 86% 86% 111 Cent 4%s ’66 77Va 76% 111 Cent Jt 4%s '63 81% 80 111 Cent 5s ’63 85 85 Interlake C & I 5s ’sl 94% 96 Interntl Hy Elec 6s ’44 44 45 Interntl Tel & Tel 4%s '39 .. 94% 96 Interntl Tel & Tel 5s ’55 86 Va 86% Interntl Tel & Tel 4%s ’53 ... 81% 82% McKess & Rob 5%s ’SO 103% 103% Natl Dairy 5 Vis ’4B 103 % 103 % Natl Steel 5s ’56 106 Nickel Plate 4%s ’7B 83% 83% Nickel Plate 5%s ’74 95% 95% N Y Cent 5s 2013 93% 93% N Y Cent 4%s 2013 (old) .... 87 86% Nor Amer Cos 5s ’6l 105% 105% Nor Pac 3s 2047 83 83% Nor Pac 4%s 2047 102'/* 102% Nor Pac 6s 2047 11l 110% Nor States Pow 5s ’4l 104% 104% New Orleans Term 4s ’53 .... 92V* 91% Penn Ry 4%s ’B4 108% 108% Penn Ry 4%s ’Bl 108% 108% Penn Ry 4%s ’7O 103 102% Pac G & B 5s ’42 103V* 103V* Portland Gen El 4%s ’6O 72% 73 Para Publix 5%s ’SO 89 89% Penn P & L 4%s 'Bl 106 106 Postal Tel & Cab 5s '53 33% 34 Rem Rand WW 5%s '47 104 V, 104V* Shell Union Oil 5s ’47 102% .. . Sou Pac 4%s ’6B 90 Vs 90% Sou Pac 4%s ’Bl 89Va 89% Sou Pac 4%s ’69 89Vs 89% Sou Pac 4s ’49 90% 90Va Sou Rail 4s ’56 62Vs 63Vs Sou Rail 6s ’56 81 79% Sou Rail 6%s ’56 85% 85 Sharon Stl Hoop 5%s '4B 103% 103% Texas Pac 5s ’BO 103 102 Vi Texas Pac 5s '77 103 Vi 103 United Drug 5s ’53 t.lOl 100% U S Rubber 5s ’47 106% 106% NY NH & Hart 6s ’4B 35% 35% NY NH & Hart 4%s ’67 35% 35 Warner Bros 6s ‘39 94% 95 Western Mary 5%s ’77 107% 107V* Western Mary 4s '52 100% 100 Youngstown S & T 5s ’7O 106% 106% Youngstown S & T 5s ’7B ....105% 105% FOREIGN Argentina A 6s '57 1M 99% Argentine B 6s ’6B £9% 99% Brazil 8s ’4l 31% 31% Canadian Govt 4s ’6O 107V* 107% Denmark 5%s '55 101 101 Vi German sVis '65 26% 26% German ”s ’49 34Vs 34% Italy 7s ’sl 74% 74% Japan 6%s ’54 91V, 92% Rome 6%s '52 65 65% Tokio City 5%s ’6l 74 74% Yokohama 6s ’6l 79 79

-WE BUY* SELL. —— and gladly furnith quotations on: Bonds of tho Unitsd Statss Govsrnmsnt, Its Tsmtoriss and Insular Posstssions Homs Ownin' Loan and Land Bank Bonds Indiana Municipal and Corporate Securities General Market Securitise Indianapolis Bond and Share Corp. 129 CAST MARKET STREET

Corporation Earnings Gain More than 1300 important corporation have now reported earnings for last year, showing total net of $2,029,999,000. a gain of 41-9 per cent over the 1934 total.

Douglas Air 69% 68% 69% 68% Nor Am Av 10% 10% 10Vs 10 Sperry Corp 21 20% 21 21 Uni Aircft New.. 26% 25% 25% 26% Chemicals— Air Reduction... 188% 188% 188% 188% Allied Chem ... 207 207 207 207 Com Solvents .. 21 Vi 21 21 Vs 21% Du Pont 152 151% 152 151 Vs Liquid Carb 43% 43% 43% 43% Math Alkali 33Vi 33% 33% 33Va Monsanto Chem. 101 100% 101 101 Vi Natl Dis (new).. 32% 32% 32% 32% Tex Gulf Sulph.. 35% 35% 35% 35% Union Carbide .. 86% 86% 86% 86 U S Ind Alcohol. 56 55% 55'/ 55% Drugs— Coty Inc 5 7 /* 5% 5V* 5% Lambert 22% 22% 22% 22% Lehn & Fink ... 12% 12V* 12% 12% Un Drug (new) . 14V* 14 14V, 14 Vick Chem 45Vs 45 45 45 Zonite Prod .... BV* BVi BVi 8% Financial— Adams Exp 13 13 13 13% Am Int Corp .. 12% 12Vs 12% 12% Transamerlca .. 13% 13% 13% 13% Tr Conti Corp... 10% 14% 14V* 14% Building— Am Radiator ... 23% 23% 23% 23% Int Cement 49 49 49 48% Libby Owens Gls 61% 61 Vs 61% 61 % Otis Elev 31% 30% 30% 31 '/a U S Gypsum ...104 104 104 104 Household— Col Pal Peet 18% 18% 18% 18% Kelvinator 32Va 23Va 23 V* 23V* Mohawk Carpet . 27 27 27 27 Proc & Gamble. 46% 46Va 46% 46Va Servel Inc 27% 21% 21% 21% Simmons Bed ... 31% 31% 31'/a 31>/a Textiles— Belding Hem ... 14Vi 14Va 14Va 14Va Celanese Corp .. *29% 29% 29% 29Vs Collins Aikman . 49Vs 49 Va 49 Va 49 Va Gotham Hose ... 11% 11 Vs 11% 11% Indus Rayon .... 34Vi 33% 33% 33'/s

Chicago Stocks (By Atkins, Hamill & Gates) 11:30 Prev. J. D. Adams 17 3 4 ... Asbestos Mfg 4% 4% Associated Investors 34% 34 Bastian-Blessing 11% ... Berghoff 12 12 Bruce E L 17 17 Vi Butler Brothers 9% 10 Cent 111 Pub Service pfd 61 61 Cities Service 5 5 Continental Steel 45 45 Cord 73/* 73/s Crane 28% 26 3 / 4 Eleectric Household 15% 15% General Household 8 8 Jarvis Mfg 22% 22 3 A Libby McNeil & Libby 10 3 /* 10 V 4 McCord Rad A 42% 42% McGraw Electric 32% 31% Nat Gypsum 61 61% Noblitt-Sparks 32 Va 32% Perfect Circle 33 33 Public Service of North 1 57 56% Standard Dredge pfd 17% 17H Williams Oil-O-Matic 12% 12% Zenith 19 19 New York Curb (By Atkins, Hamill & Gates) 12:30 P. M. Prev. _ N. Y. close. Am Cyanamid “B” 37*/s 37Vi Am Gas & Electric 38% 38 V* Am General 10% 10 3 / 4 Am Superpower 2% 2 3 / 4 Ark Natural Gas “A” 6% 6% Atlas Corp 15% 14 Canadian Indus Alcohol “A”. 9 5 /s ... Carrier Corp 10% 10% Creole Petroleum Corp 29% 29% Crocker-Wheeler 13 13% Elec Bond & Share 24% 23% Fisk Rubber 7 7 Ford Motors Canada “A” ..." 25% 25 3 / 4 Glen Alden (1) 15 % 15% Gulf Oil Corp of Penn 94% 94% Humble Oil & Refining Cos ... 71 Vi 71% Huyler’s of Del pfd 30 32% Hygrade Food 5% 5% Imperial Oil of Canada 24% 24% Lake Shore Mines 53% 53 '/a Natl Bellas Hess Inc 2% 2% Niagara Hudson Pwr 10% 10 Vi Pan-American Airways 61% 63 Pennroad Corp 4% 4% Root Petroleum 16% 16% St Regis Paper Oo 4% 4 3 / 8 Salt Creek Producers Assn ... BVs 8 3 / 8 Segal Lock 3 '/a 3% Sonotone 31% 3 Stutz Motor Car of Amer 3% 3 Technicolor. Inc 3(1 30% Tubize Chatillon Corp 8% 8% Wayne Pump 29% 29% Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,385,000 Debits 6,091,000 TREASURY STATEMENT (By United Press) WASHINGTON, April 7.—Government expenses and receipts for the current fiscal year to April 4, as compared with a year ago: This Year. Last Year. Expenses $5,425,622,392.56 $5,137,921.087 88 Receipts.. 3.144,926.200.47 2.916,372.903 91 Deficit ... 2,280,696,192.09 2,221,548,183 37 Cash bal. 2,827.238,400.93 2,436.603 036 16 Pub debts 31,454.588,453.88 28.819,581.940 48 Gold res. 10 187,948.846.58 8,568.102 967 60 Customs... 297.449,856.88 258.554,175.47 GLIDDEN INCREASES STOCK NEW YORK, April 7.—The Glidden Cos. has notified the New York Stock Exchange of a proposed increase in authorized common stock to 1,000,000 shares from 800.000 and creation of 200,000 shares of 4Vi per value SSO. I B ■ FIRST |gj mortgage K LOANS g m nn well located modern psP Indianapolis Property. INTEREST ■ 1B 13/470 Weekly Payments H NO COMMISSION £| Home Builders Savings Mb and Loan Association K Bid*-

SOUTH CAROLINA SOLE DISTRICT TO SHOW LOSS Tax Payments Reveal Drop in Receipts of Nearly $200,000. By United Prcet WASHINGTON, April 7.—South Carolina, Treasury officials revealed today, was the only one of 65 revenue districts that has failed to show an improvement in the current fiscal year. Income tax payments for the three-quarter period of 1936, ending March 31, revealed receipts from South Carolina dropped almost $200,000 from the same period last year. On the basis of receipts of $2,258,834, compared with $2,412,563 at the same date in the 1935 fiscal year year, it was expected that South Carolina would be the only state to fall below 1935 payments. Analysis of returns showed about 50 per cent of income tax collections came from the state’s cotton textile business. The decrease was attributed to a decline in that industry. Corporation Payments Lapse South Carolina cotton manufacturers’ payments represented a greater proportion of income tax payments than in any other textile state, officials said. Treasury officials pointed out that South Carolina had shown an unusual return to prosperity in 1934 and 1935, with a huge percentage of increase of revenue over each previous year. Economists said a lapse in corporation payments had caused a deficiency that might possibly be made up before the complete books for the fiscal year are totalled at its close on June 30. Up to the three-quarter mark of the current fiscal year. New York state paid almost one-third of the nation’s total with $306,234,198. South Carolina contributed the smallest share, $454,172/ Other Livestock (By United Press) CHICAGO, April 7.—Hogs—Receipts 12 - 000, including 2500 directs; unevenly 5 to 15 cents lower than Monday: top, $lO 90: bulk better grade, 180-250 lbs., $10.70® 10.80: 140-180 lbs.. slo@ 10.75; 250-300 lbs., $10.50(510.75- 300-350 lbs.. $10.40(510.64. Cattle—Receipts. 7000; calves. 2500; fed steers, weak to 25 cents lower: better grade for shipping showing most decline; market very slow; inbetween grade premoniating in run; fed yearlings early. $10; medium held around $10.50: bulk in condition to sell. $8®8.50; all she stock firm; strictly choice heifers up to $9: weighty heifers. ' $8.50; low beef cows. $5.35(55.75: yearlings. 10 to 1' cents higher: bulls, steady, and vealers unchanged. Sheep—Receipts, 7000: fat lambs, steady to 15 cents higher; other killing classes, steady; early bulk fed western lambs, $lO 25® 10.50; ewes. $10.65: around 100-lb. clippers, $8.50; native spring lambs. sl2® 14; wooled ewes, ss®/5.50; clippers, [email protected]. FORT WAYNE, Ind., April 7—Hogs— Market 10@20c lower: 160-180 lbs., $10.80: 180-200 lbs., $10.70: 200-225 lbs. $10.60: 225-250 lbs.. $10.50; 250-275 lbs. $10.35: 275300 lbs.. $10.25: 300-350 lbs.. $10; 140-160 lbs., $10.30: 120-140 lbs.. $10.05; 100-120 lbs.. $9.80: roughs. $9; stags, $7.25. Calves. $10.50. Lambs, $9.75. (By Times Special) LOUISVILLE, April B—Cattle—Receipts. 250; salable supply slaughter cattle, light; demand, fair; market, generally steadv; bulk common to medium steers and heifers. $6.50®7.50: better finished offerings quotable [email protected], and holding odd head best light steers higher; bulk beef cows. [email protected]; practical top. $6: smooth heifer types quotable higher: most low cutters and cutters, [email protected]; sausage bulls salable mostly [email protected]; best heavies considered eligible, higher; most light beef type Stockers and stock calves, [email protected]. Calves—Receipts, 200; market not fully established, but indications steady at $8.50® 9.50 for good to choice grades, and $8 down to medium and lower grades. Hogs— Receipts, 650, including 140 billed direct; $9.95; 305 lbs., $9.50: 120-155 lbs.. $9.95; market, 10c lower; beter, 160-225 lbs., $10.80; 230-250 lbs., $lO 50; 225-300 lbs., sows, $8.60: stags, mostly $6.50 down. Sheep—Receipts, 50: salable supply, very light; market quotable mostly steady; better native wooled lambs salable mostly $8.50@9; choice eligible higher; plainer grade natives, [email protected]; bulk fat ewes, $4.50 doawn.

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