Indianapolis Times, Volume 48, Number 32, Indianapolis, Marion County, 17 April 1936 — Page 32

Trends Half of 4 Billions Is Already Spent. BY JOHN T. FLYNN

NEW YORK, April 17.—That troublesome thing, the fiscal year of the United States government, is drawing to a close. We have finished up ninf months of it. It is interesting now to see what

we have done with the vast sum of money—s4,Boo,ooo,ooo which Congress voted to the President for emergency and relief purposes. Up to March 31 he had spent $2,237,130,610 of it. That is just about 50 per cent of it. If he keeps on at the same rate he will, by the end of the fiscal year (June 30), have spent

m

Flynn

$3,240,000,000 or 67V4 per cent of the whole amount. Os course this is subject to much modification. Avery large amount of the money spent on recovery ar.d relief this year did not come out of that $4,800,000,000 at all. It was paid from grants and funds voted by Congress in other years but only spent this year. So there is left not only a great deal of that $4,800,000,000 but a great deal of other fjinds appropriated as far back as 1933. ana THE truth is that the Treasury statement of March 31 shows that there are to the credit of various government departments and commissions unexpended funds aggregating five and a half billion dollars. Now what did we do with the money we spent this year? Treasury reports are a bit confusing but as far as I can make out this is about the way we spent the emergency funds: Relief $1,164,020,082 Loans 306,601,723 Public Works . 362,013,556 There were some other items which are difficult to classify. Most important is the item of relief. Just what the relief expenditures are it is not easy to determine. Men could argue about that. I have put the WPA expenditures under the head of relief. That is their object—to pay men moderate sums for work rather than for nothing, but the work has been hit or miss and a vast amount of it is merely the work which was done before under the heading of relief. nun IN all forms of relief we have spent thus far this year over half a billion dollars less than last year—precisely $553,000,000 less. We have spent a good deal less on public works. This year we have paid out $362,000,000 against <458,000,000 last year. This is a fai !ng off of $96,000,000. The loan account has run about the same—s3o6,ooo,ooo this year against $303,000,000 last year. The reduction in relief expenditures may well be due to improvement in the administration of relief. After all, it is a huge job. No man could carry forward such a huge task without much confusion and much last motion, particularly when he is bedeviled by politicians and greedy communities. As the administration of relief goes on we may look for it to be more intelligent and less costly. (Copyright. 1936. NEA Service, Inc.) On Commission Row (Quotations below subject to change are average wholesale prices being offered to buyers by local commission dealers.) FRUIT —Strawberries: Louisiana, 24ti! crate. $3. Pears— Washington D An)o (100s box). $3. Limes—Mexican carton 20c; Persian seedless (doz.). 45c. Bananas, seven hands, pound, sc. Apples— Delicious (fancy baskets) $1.75; Rome Beauty. *1.35. Lemons—Sunkist <36os), $6 25. Grapefruit—'Texas seedless (545-80s), 80s), $4. Pineapples—l24s) crate, $5.25. VEGETABLES Artichoke. California (doz.). sl. Beans, green round stringless (hampers). $3.25. Beets—Texas (3 doz. crate), $1.65; cut offs <bu.) sl. Cab-bage-New Texas (crate). $2.50; half crate, 8140. Carrots—California (6-doz. crate). 83: Texas (3 1 a doz. crate), $1.50. Cauliflower. California (12s crate). $2. Celery - Florida washed and trimmed (doz.), 45® 85c; Florida (4s. Bs, 10s crate). $3.50. Cucumbers —Hothouse fdoz.). $1.35 (southern bushel). $6. Egg plant—Florida (doz ). 81.75. Kale—(Virginia bushel). 85c. Lettuce —Iceberg, Arizona (best 6s, ss). $3.65: borne grown leaf (15-lb. basket). $1.50. Endive—California (doz ), 75c. Peppers— Mangoes (crate). $3.50; peck basket. 90c; doz. 30c. Mint Hothouse (doz), 75c. Mushrooms—Pound. 30c. Mustard—Texas, half crate. $l4O. Onions—lndiana-yellow (50-lb. bag). 75c; new Texas Bermuda yellow, 50-lb. bag. $l9O Parsley—Southern dong bunches, doz.), 35c. Parsnips—Home frown washed, bushel. $1: half-bushel, 60c. -as—Florida, hamper. $3.25. Potatoes— Michigan Round Whites, 100-lb. bag, $1.80: Maine Oreen Mountains. 100-lb. bag, $2.40: R. R. Earlv Ohio. 100-lb. bag. $2: R. R. Triumph, 160-lb. bag. $1.90: Idaho Russets. ;09-lb. bag, $2 65: Idaho Bakers. 70s box. 82 :>0; New Florida Triumphs, 50-lb. bag. 50. Sweet Potatoes —Tennessee Nancy a.lls. hampers, $1 50. Radishes Home g.own buttons, doz., 65c, white, 50c. Jhubarb—Hothouse, bunch, 50c. Rutatagas—Northern 50-lb. bag. $1.25. Sage --Doz.. 45c. Shellots—Louisiana, do*., 35c. Turnips—New. bulk Texas, bu.. $1.25. Tomatoes —Repacked. 10-lb. box. $1.75. Produce Markets The prices quoted ara paid for stock ■lathered In the country, while delivered in Indianapolis the price Is a cent higher. Heavy breed hens. 18c: Leghorn breed hens. 15c: old cocks. 12c. Ducks, white. 5 lbs. and over. 11c; geese, full feathered, all sizes. 8c; all guineas 1% lbs. and up. 15c: No. 1 strickly fresh eggs loss off. 16* 3 c; delivered in Indianapolis, 17'jc. Each full case must weigh 55 lbs. gross: a deduction of 1 cents a pound under 55 lbs. will be made No. 1 butter 33@34c; No. 2 30@31c. Butterfat. 27c. Money and Exchange INDIANAPOLIS STATEMENT Clearings $3,550,000 Debits - 7.451,000 TREASURY STATEMENT (By United Press) WASHINGTON. April 17.—Government expenses and receipts for the current fiscal year to April 15. as compared with a year ago: This Year. Last Year. Expenses .$5,635,965,517.33 $5,327,546,273.56 . eceipts . 3.225,210.433 27 3.008,132.567.76 Deficit ... 2,410.755.0*4.06 2,319.413. ;ui.Bo Cash bal . 2.687.827.317.94 2 344.525.485.82 Pub debts 31.453.296.162 13 28.814.652.125.73 Gold res. .10.200 290.696 41 8.619.026.820 34 Customs .. 306,502 651.27 270.613.116.62

HERE’S FIkAHCIAL HELP! Here, available to home-buyera and home-builders, is a complete mortar Rage loan service that anticipates K- practically every requirement It / \ you ** pire to the Privilege of homeI flft \ ownership and ths benefits it bes / l stows, call and talk over your 4 v i 1 financing needs with a member of K Mfjzßz&tir I V / our staff who will give you all \ \/ necessary information. (fit S' The union trust JalißELflll, pi COMPANY LOAN DEPARTMENT It# I. Market It LI. SMI

♦ ♦ Abreast of The Times on Finance ♦ ♦

PAGE 32

STEEL GROUPS TAKE SIDES ON CANAL PROJECT

Erie-Ohio River Waterway Subject of Bitter Dispute. BY NED BROOKS Times Special Writer WASHINGTON, April 17.—An idea tohich originated more than a century and half ago with a young surveyor named George Washington has arisen again to plague the engineering talent of the New Deal. Presenting more vexing aspects than the tide-hamessing Passamaquoddy power dam or the transFlorida ship canal, the proposal to slice a canal through Pennsylvania and Ohio from the Ohio River to Lake Erie has at last reached the Army Engineers’ Board for a verdict. In Its more modem history, the project has taken 17 years to get this far. In 1919 Congress ordered a survey of various routes and the studies have been going on ever since. Many Factors Battle Hearings just completed before the board found the United States Steel Corp. arrayed against its smaller competitors; land-locked industrial communities battling thase (Kith water transportation; experts challenging each others’ conclusions, and the railroads raising their old cry of ruin by the waterways. District and division Army engineers have recommended construction of a barge canal which would involve use of the Beaver, Mahoning and Grand Rivers and construction of a 27-mile-long reservoir at the summit level in Ohio. The waterway would cost $163,000,000, they estimate, or about $20,000,000 more than the Florida canal. Os this figure, $26,000,000 would be assessed against local interests. Savings $9,864,000 The engineers estimated annual net savings of $9,864,000 to shippers, chiefly those moving coal northward from the Pennsylvania and West Virginia mines and those hauling ore from Lake Erie to steel mills in the Youngstown and Pittsburgh areas. The hearing left the Engineers’ Board with the task of untangling an amazing array of conflicting evidence given by experts on both sides. The Steel Corp., hitherto neutral, came out against the improvement, pitting four witnesses against representatives of two of its largest competitors, the Republic Steel Corp. and the Youngstown Steel and Tube Cos. 30,000,000 Tons of Freight The engineers had left the Steel Corp. out of their computations and estimated that even then the waterway would haul 30,000,000 tons of freight a year, or approximately the amount carried through the Panama Canal in its peak year of 1929. Most ardent advocates of the waterway are the land-bound steel producers in the Youngstown district, who have warned that the community will dry up unless they are put on an equal footing with competitors having access to water. Port cities, Toledo, Sandusky and Ashtabula, the last of which would be five miles from the northern terminal of the canal, foresee major diversions of cargo and are opposing the project. Steel producers on the Ohio River, now holding a competitive advantage, and southern Ohio coal producers, who rely on their proximity to industrial and domestic markets to the North, likewise are among the opponents. FOOD INDEX HIGHER Dun & Bradstreet Compilation Shows Rise 4 Cents in Week. Time* Special NEW YORK, April 17.—With a further increase of 4 cents, the weekly food index, compiled by Dun & Broadstreet, Inc., advanced to $2.64 during the week ended April 14, it was announced today. The advance reflects a gain of 7 cents, or 2.7 per cent, compared with,the low of $2.57 recorded two weeks ago, and has narrowed the decline of a year ago, when the index stood at $2.71. Only declines shown by the index for the latter week were in mess pork and cottonseed oil.

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 ft T Port Wavne 614.. 103 105 Home T <te T Port Wayne 6 ..103 106 Indianapolis Railways Inc .... 65 68 Indianapolis Water Cos 4 Vis ..106 108 Indianapolis Water Cos 5s ...105 107 Indianapolis Water Cos 5s ...105 107 Indianapolis Water Cos 5'4 ..10414 106 Indianapolis Water Cos 514 ..10414 106 Interstate T * T 514 971a 98 Kokomo Water Works 5 ...104 10514 Morris 5 & 10 Stores 5 100 103 Muncie Water Works 5 . ... 10314 .... Noblesvllle Heat Lt Pwr 514 • 98 10014 Ohio Telephone Serv 6 9714 Richmond Water Works 5 .. 105 1 06'4 Seymour Water Cos 5 101 104 Terre Haute Trac <sr Light 5 106 108 Terre Haute Water Wks 102 104 Terre Haute Water Wks 103 105 Traction Terminal Cos 5 74 77 STOCKS Belt R R <fe Stock Yards Com 53 5514 Belt R R & Stock Yard pfd 6 52 .... Central Ind Pwr pfd 7 .... 21 24 Home TANARUS& T Port Wayne 7.. 5214 54'4 Hook Drugs Inc com 17 18'a Ind & Mich Elec Cos pfd 7 ...10314 1061a Ind General Service Cos 6 ... 97 100 Ind Hydro Elec Cos 7 57 60 Indianapolis Gas Cos com 6 . 34 37 Indpls Pwr <fc Lt Cos pfd 6 . 89 92 Ipdpls Pow & Lt Cos pfd 61a 93 96 Indlps Water Cos pfd 5.. .102 105 North Ind Pub Serv pfd s'is *214 67 North Ind Pub Serv pfd sVjs 63 66 North Ind Pub Serv pfd v-... 7114 74'i Progress Laundry Cos com ... 10 1114 Pub Serv Cos of Ind pf'l 6 ... 24 27 Pub Serv Cos of Ind p\d 7 ... 43 46 South Ind Gas & Elec pfd 6.. 9914 102*4 Terre Haute Electric Cos 89 911a Union Title Cos com 1914 2114

COMMODITY AND TRADE TRENDS CHARTED 90 j r- 1 j [IBO AyEEKLY BUSINESS TREND 85 — 7 t a! ; g ac V f MOODY’S DAILY * \\ f 1-4 /Hi KA i COMMODITY INDEX 'i > £BO iMj tj/ — jSr / — r —Vs/ — -j— }- 160 g hV * VyJ /* § 3/ / § •m- 1 •:: : • : \i *j / V. : : /*••’ \i j * | MOODY'S INVESTORS SERVICE APR. MAY JUN. JUL. AUG SEP. OCT. NOV. DEC. JAN. FEB. ifJL IS3S 1536

New York Stock Exchange Prices

(By Thomson & McKinnon) 11:15 A. M. Prev. Oils— High. Low. N. Y. Close. Atl Rig 32% 32(4 32% 31% Barnsdall 18% 18% 18% 18% Consol Oil 14 33% 33% 14 Cont of Del 34% 34(4 34% 34% Houston (new).. 10 Vs 10 10 9% Ohio Oil 14% 14% 14% 14% Phillips Pet 46% 46(/ 2 46% 46% Plymouth Oil ... 15% 15% 15% 15> /4 Pure Oil 22'4 22 22% 22 Royal Dutch .... 56 56 56 55% Seaboard Oil ... 38% 37 381/s 37 Soc Vac 15 14% 15 14% SO of Cal 44% 43% 43% 44% SO of Ind 38% 38 38% 37% S O of N J 65% 65 65'/a 64% Texas Corp 38% 38% 38% 38% Tidewater Assn.. 18 17% 17% 17% Un Oil of Cal .. 25% 25 % 25 % 25% Steels — Acme Steel 70% 70% 70% 2G Am Roll Mills .. 30 29% 30 29% Beth Steel 59% .59% 59% 60*4 Byers A M .... 21% 21% 21% 21% Inland Steel 109 109 109 109 Ludlum Steel ... 28% 28% 28% 28% Natl Steel 65% 65% 65% 65% Otis Steel 18% 18% 18'4 18% Rep Iron & Steel 23% 23% 23% 23% U S Pipe & Fdy 37% 37,% 37% 37% U S Steel 69% 69% 69% 69% Warren Bros .. 9'% 9% 9% 9% Youngstown S-T 60% 59% 59% 60% Motors— Auburn 45% 45% 45% 45% Chrysler 100% 99% 99% 100% Gen Motors 68% 68 % 68% 68 Graham Mot ... 2% 2% 2% 2% Hudson 17% 17% 17% 17% Mack Truck ... 34% 34% 34% 34% Nash 20 19% 19% 20% Packard 11'/. 11 11 11% Reo *,.... 7 6% 6% 7 Studebaker 13% 13>4 13% 13% Yellow Truck ... 18% 18% 18% 18% Motor Access— Bendix 31% 31 31 31 Bohn Alum 53 % 53 53 53% Borg Warner ... 76 76 76 77 Briggs . 53 *4 53 53% 53% Budd Mfg 13% 13% 13% 13% Budd Wheel .... 11% 11% 11% 11% Eaton Mfg 35 35 35 35 Else Auto Lite .. 39% 39(4 39% 39% Greyhound “B”. 60% 60% 60% 60 Murray Body ... .. 19% Stew Warner ... 24% 23% 24 23% Timken Roll 67 66% 66% 67 Vi Timken Det Axle 16% 16 Vi 16 Vi 16% Mining— Alaska Jun 14 14 14 14 Am Smelt 80% 79 % 79% 78 Vi Anaconda 38% 38% 38% 39 Cal & Hecla 13 12% 12% 12% Cerro De Pasco.. 56% 56 56 55(4 Dome Mines ... 45 45 45 44% Ins Copper .... 12% 12% 12% 12% Int Nickel 48% 48 % 48% 49 Kennecott Cop.. 40% 40% 40% 41% Phelps Dodge .. 39% 38% 38% 38% U S Smelters ... 90 90 90 90 Vanadium 22% 22 22 22% Amusements— Crosley Radio .. 24% 23% 24 24% Fox Theat 26% 26% 26% 27 Loews Inc 45% 44% 44% 45% Radio Corp .... 12% 12% 12% 12% Paramount 8% 8% 8% 8% RKO 6% 6% 6% 6% Warner Bros .... 10% 10V4 10% 11 Tobaccos— Am Tob (A).... 91 91 91 90% Am Tob (B) 91% 91% 91% 91% Lorillard 22% 22>4 22% 22% Phillip Morris ... 81 % 81% 81% 82 Reynolds T (B).. 52% 52 52 52% Rails— Atchison 82% 82% 82% 82% 5 * °.• 20% 20% 20% 20% Can Pacific 12% 12% 12% 12% Ch & Ohio 58 58 58 57% Chi & Gt W ... 1% 1% 1% 1% Chi & Gt W pfd 6Vg 6% 6Va 6 Chi N W 3% 3% 3% 3% Dela & Hud 47 46% 46% 46% Del Lac & W.... 19% 19% 19% 19% Erie 15 14 Vi 14% 14% Erie pfd 21% 21% 21 % 22 Gt Northern pfd 37% 37V* 37(4 38 111 Central 24% 24% 24% 24% Lehigh Valley .. 11% 11% 11% 11 % MK&T...V... 9>4 8% 9 8% MK & T pfd .. 24% 24Vi 24% 24% Mo Pac pfd .... 5% 5% 5% 5% N Y Cent 39% 39(4 39% 39% N Y Ont & West 5Vi 5*4 5% 5% Nor Pacific 33% 33% 33% 33 Penn R R 33'2 33 % 33% 33% Sou Pacy 36% 35"% 36 36% Sou R R 17V 17 17% 17 Wabash 3'4 3% 3% 3% Equipments— Am Brake Shoe. 47% 47% 47% 47% Am Car & Fdy.. 36(4 36(4 36% 36% Am Loco 29% 29(4 29% 28 Am Steel Fdy... 3% 3% 3% 28% Gen Am Tk Car 48 47% 47% 47% Gen Elec 40(4 40(4 40 % 40% Gen R R Sig ... 4040 40 42% Pullman Inc 44% 44% 44% 44% West Air Br 43 42% 42% 42% Westingh Elec ..119% 119 119 119% Utilities— Am & For Pwr.. 8% 8% 8% 8% Am Power & Lit. 12% 11% 11% 11% AT&T 167'2 167 167 167 Am Wat Wks ... 23% 23% 23% 23% Col Gas & Elec. 19% 15% *19% 19% Comm & Sou ... 2% 2% 2% 2% Consol Gas 32% 32% 32% 33 Elec Pwr & Lit. 15 14% 14% 15 Int Hydro Elec.. 3% 3% 3% 3% Int T & T 15% 15% 15% 15% Nat Pwr & Lit. 11% 11V* 11% 11(4 North Amer .. 28% 28(4 28% 28Vs Pac G & E 38% 38% 38% 38% Peoples Gas ... 45’i 45'2 45% 44Vi Pub Serv N J . 41% 41% 41% 41% So Cal Bdison . 27% 27% 27% 27% Stone & Webster 19% 19% 19% 19% United Corp ... 6% 6% 6% 7 Un Gas Imp ... 16% 16 16% 16 Ut Pwr & Lt “A” 5% 5% 5% 5% Western Union 87 86% 86% 86% Rubbers— Goodrich 22% 22% 22% 22% Goodyear 30% 29% 30% 30% U S Rubber 33% 33 33% 33% Miscellaneous— Am Can 125% 125% 125% 125 Brklyn Mm Tr. 48% 48% 48% 48% Burroughs Add.. 28% 28% 28% 28% Conti Can 78% 78% 78% 78% Caterpillar Tract 78% 77% 78% 77% Crown Cork ... 61 60% 60% 61 Eastman Kodak. 165% 165% 165% 165% Foster Wheeler.. 33% 33% 33% 34 Gillette 16% 16% 16% 16% Glidden 552% 52% 52% 57% Inter Harv 87% 87 87 86% Natl Cash Reg.. 26% 26% 26% 26% Rem Rand 22% 22Vi 22% 22Vs Foods— Aimour 5% 5% 5% 5% Beatrice Cream'v 22% 22% 22' 2 22% Borden Prod 27% 27% 37' 2 27 s * Coca Cola 39% 89'i 89% 88% Cont Bak (A) .. 16% 16'4 16% 16 Corn Prod 76 s * 76% 76% 76 Crm of Wheat.. 35 35 35 35 Cuban Am Sugar 11% 11% 11% 11% Gen Foods 37% 37% 37% 37% o%’ Dust .... 19 19 19 19 G W Sugar 34 34 34 33% Natl Biscuit.... 34% 34% 34% 34% Natl D Prod.... 23% 23% 23% 23% Pt ritv Bak 12% 12% 12% 12% Std Brands 16 15% 16 15%

Thomson & McKinnon NEW YORK memijers CHICAGO eW ® Exchange. THRn\Tn New York Curb Exchange, pnSrnii New lork CottOD ExchanßeiJsJo 1 Uis New York Coffee and Sugar Exchange. SOUTH BEND •|| New Orleans Cotton change. FT. WAYNE * Chicago Stock Exchange. EVANSVILLE 11 Chicago Board of Trade. Winnipeg Grain Exchange. IIldl(ltlQpoll8 OfflC6. And other leading Exchanges. 200-214 Circle Tower LI. 5501

FRIDAY, APRIL 17, 1936

Retail Stores— Allied Stores ... BVs 8% 8% 8% Assd Dry Goods.. 16% 16% 16% 16% Best & Cos 55(4 55'/* 55 % 55 Vs First Natl Stores 44% 44 44 44% .Gimbel Bros 9% 9% 9% 9>/e Gm Un Tea 4(4 i’4 4% 4 Jewel Tea 73% 73% 73% 74 Kresge S S .... 22>/s 22 22 22% Krcrer Groc 24 23% 24 23% Macy R H 44% 44% 44% * 44 McCrory St 12% 12% 12% 12% Marshall iFeld.. 17 16% 17 17 Mont Ward 43% 43% 43% 42% Penney J C 77 77 77 77 Sears Roebuck .. 67% 67% 67% 66% Woolworth 48% 48% ‘48% 48% Aviation— Curtiss Wright.. 6% 6% 6% 6% Curtiss Wright A 16% 16% 16% 17 Douglas Air I§% 16% 16% 13% Nor Am Av .... 9% 9% 9% 9% Sperry Corp .... 19% 19% 19% 19V* Unitd Aircft New 25% 25% 25% 25% Chemicals— Allied Chem ...196% 196% 196% 197 Am Com Alcohol 27% 27% 27% 27% Com Solvents .. 19% 19 19 19 N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Util. Bnods. Today 91.4 92.0 104.8 96.1 Yesterday 91.5 92.1 104.9 96.2 Week ago 91.6 92.7 105.0 96.4 Month ago .... 91.8 91.9 , 104.9 96.2 Year ago 86.2 75.5 95.7 85.8 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 Vis 1947-52 118.4 118.8 4s 1944-54 113.4 113 3%s 1946-56 111.13 111.10 3%s 1940-43 108.19 108.7 3%s 1943-47 108.8 108.9 3%s 1941-43 109.1 109.3 3(4 s 1943-45 107.30 107.28 3 Vis 1941 109.2 109.2 3 (is 1944-46 107.18 107.18 3%s 1946-49 106.1 105.26 3 Vis 1949-52 105.23 105.21 3s 1951-55 104.13 104.13 3s 1946-48 104.31 104.30 2%s 1945-47 103.10 103.10 2%s 1951 102.6 102.6 Home Owners Loan Corp. 2%s 1949 101.27 101.26 3s 1952 102.31 102.30 Federal Farm Mortgage Corp. 3 (is 1964 104.10 104.12 3s 1949 103.6 103.7 3s 1942 103.25 103.24 2%s 1949 102.16 102.13 DOMESTIC Prev. Issue. Close, close. Alleg Corp 5s ’44 93(4 93% Alleg Corp 5s ’49 88 87 Vi Am Frgn Pow 5s 2030 76 76% Am Tel & Tel 5%s ’43 113 113 Am Tel & Tel 5s ’65 113 112% Arm & Cos. (Del) 4s ’55 97% 98 Atl Coast Line 4s ’52 96% 95% Atl Coast Line 4 Vis ’64 81 82 Am Wat Wks 5s '44 103.12 103.16 Am Rolling Mills 4'/2S ’45 118% 119 Balt & Ohio os ’95 94% 95% Balt & Ohio 4Vis ’6O 72% 72% Buff Roch & Pitt 4 Vis '57 79% 80(4 Beth Steel 4%s ’6O 105% 185% Chi Milw &StP 5s ’75 21% 22 Chi Milw & St P 2000 7% 8 Cleve Un Term 5s ’73 107 106% Cleve Un Term 4%s ’77 102 102 Col Gas 5s May 52 103 103% Col Gas 5s April ’52 103% 103% Col Gas 5s ’6l 103% 103% Can Pac Perp 4s 92 Vi 92 Cent Pac 5s ’6O 991/2 99 Big Four 4Vis ’77 91 91% Big Four 5s ’63 98% 98% Colorado & So 4Vis ’BO 71 73% Chi & West Ind 4s ’52 104% 104% Chi & West Ind s*is ’62 107 107% Chi & Nor West 4%s ’49.... 12% 13 Con Gas 5s '57 104 104 Chesa Corp 5s ’47 131 13114 N Y Dock 4s ’sl 68% 70 N Y Dock 5* '3f 68% 68% Erie 5s 75 77% 781/. Erie 5s '67 78'* 78'4 Gen Cable 5%s ’47 ......104% 1019 Grt Northern 7s ’36 101 8 101 9 Grt Northern 4%s ’76 .........101% 101% Tii rt rtan o t rt l l 3 er,l -Rfi 2S ’ 77 101% 101% 111 Cent 4 3 /4$ 66 76 3 4 76V0 111 Cent Ja 4%s ’63 jgi& 81' \ 111 Cent 5s ’63 TiiVx 84% Internatl Hv Elec 6s ’44 41% 41 (2 ILnterntl Tel & Tel 4%s ’39.. 95'% 94% Interntl Tel & Tel 5s ’55 85% 85 Interntl Tel & Tel 4%s ’52 ... 80% 80% P Lorillard 7s ’44 . 131% 132 McKess & Rob sVis ’SO 103% 103% Natl Dairy sVis ’4B 103'% 103% Natl Steel 4s ’65 ls 6 106% Nickel Plate 5%s '7B 83 83% Nickel Plate 5%s '74 93% 93% N Y Cent 5s 2013 93% 94 N Y Cent 4%s 2013 (old) 86% 86% Nor Amer Cos 5s '6l 105% 105% Nor Pac 3s 2047 82 82% Nor Pac 4%s 2047 102% 102% Nor Pac 6s 2047 111% 111% Otis Steel 6s ’4l 102% 102% Penn Rv 4%s ’B4 108% 108% Penn Rv 4%s ’Bl 108 108% Penn Rv 4'is ’7O 102 102% Pac G & E 5s ’42 103 103% Portland Gen El 4%s ’6O .... 72% 73 Para Publix 6s ’55 87 86% Pennn P & L 4%s ’Bl 108 108% .Postal Tel & Cab 5s ’53 31% 32 Rem Rand W W s(is ’47 104.10 104.10 Sou Pac 4Vis ’6B 90% 90% Sou Pac 4%s ’Bl 90 90% Sou Pac 4Vis ’69 90% 90% Sou Pac 4s ’49 92% 93 Sou Rail 4s ’56 32 63 Sou Rail 6s ’56 79% 79% Sharon Stl Hoop 5%s '4B 103.1 103.2 Texas Pac 5s ’BO 102% 103 Texas Pac 5s ’79 103 102% Texas Pac 5s ’77 103% 103% Union Pac 4s ’47 113% 113% United Drug 5s ’53 100% 100% U S Rubber 5s ’47 106% 107 NY NH & Hart 6s ’4B 32% 33% NY NH & Hart *%s ’67 32% 33 Warner Bros 6f '39 96 96 Western Mary 5%s ’77 108 108 Western Marv 4s ’52 100% 100% Youngstown S & T 5s ’7O 106% 105% Youngstown S & T 5s ’7B 105% 105% FOREIGN Argentina (A) 6s ‘57 100% 100 Argentine (B) 6s ’SB 100% 99% Brazil 8s ’4l 31% 32 Canadian Govt 4s ’6O 107% 107% Denmark 5%s ’55 101% 101% French 7s '49 176% 174% German 5%s ’65 25 25% German 7s ’49 32% 35% Italy 7s ’sl 72% 72% Japan 6%s ’54 94% 94% Poland 7s ’47 102% 106 Rome 6%s ’52 63 62% Tokio City 5%s *6l 75 75 Yokohama 6s ’6l 80% 80%

Du Pont 150 149 Vi 149% 149% Math Alkali .... 32'/* 32V* 32% 32'/* Natl Dis (new).. 30% 30% 30% 30% Schenley Dist .. 44'/* 44% 44'/* 44% Tex Gulf Sulph.. 34% 34% 34% 35 Union Carbide .. 85 84% 85 85 U S Inds Alcohol 53% 53 53 52% Drugs— Coty Inc 5% 5% 5Vi 5% Lehn & Fink .. 14% 14% 14% 14'/* Un Drug (new). 12 12V* 13 13 Zonite Prod 7% 7% 7% 7% Financial— Allegheny Corp . 3% 3% 3% 3V Am Int Corp... 12% 12% 12% 12% Lehman Corp .. 98'/* 98 98 98'/* Transamerica . 13% 13% 13% 13% Tr Cont Corp .10 9% 9Vs 10 Building— Am Radiator ... 23% 22% 22%' 23V* Gen Asphalt ... 31% 31% 31% 31V* Johns Manville .114 114 114 114% Libby Owens Gls 57% 57% 57% 57% Otis Elev 28V* 28'% 28% 28% Household— Col Pal Peet .. 17% 17% 17% 17% Congoleum 37 % 37% 37 V* 38 Kelvinator 23'/* 23V* 23V* 23 Proc & Gamble .46 45% 46 46% Servel Inc 19% 19% 19% 20 Simmons Bed . 30 30 30 30 V* Textiles— Belding Hem ... 14V* 14V* 14(4 14V* Celanese Corp .. 27 26% 26V* 27% Collins Aikman . 49'4 49 49V* 48% Indus Rayon ... 31 31 31 31V* Kayser Julius .. 28% 28% 28% 28% New Bond Issues (By W. L. Lyons & Cos.) Bid Ask Asso Tel 4s ’65 104% 105 Atlanta Gas Lite 4%s ’55 ....100% 101% B & O 4%s ’39 99 V* 99 V* Blackstone Val G & E 4s '65..108(4 103% Boston & Albany 4%s ’43 103% 108% Carriers & Gen 5s ’SO 106 Cent Maine 4s ’6O 102 Vi 102% Cent 111 3 Vis ’6O 105(4 Chicago Un Sts 3%s ’63 103V* 105% Cleve Elec 111 3%s ’65 110V* 110% Cleve Tractor 5s ’45 102 105 Columbus Rwy P & Y 4s ’65..105% 105% Canadian Gvt 3Vis ’6l 100 100(4 Conn River P & L 3%s '6l 104% 104% Consolidated Ed 2'/*s ’46 102% 102% Consolidated Ed 3%s ’56 100% 100% Consumers Pow 3%s ’7O 103% 103% Cont Steel 4s ’46 102 Cudahy Pkg 3%s ’55 102 102% Cudahy Pkg 4s ’SO 103% 104% Dayton P & L 3%s ’6O 106 Duouesne Lite 3%s ’65 106% 107 Eastern Gas & Fuel 4s ’56 .. 96% ... Edison Ilium Bost 3%s ’65 ..105% 105% lowa South Util 5%s ’SO ...,102 103 Jones & Laughlin 4%s ’6l .... 98 98% Kansas P & L 4%s ’65 108% 108 s /* Keystone W & S 4s ’45 100 Loews 3%s ’46 96% 96% Los Angeles G & E 4s ’7O 105V* 105% L & N 4s 2003 101% *lO2 Maine,Cent 4s ’45 99% 100V* Metro Ed ’65 106% ... Monon W H 4%s ’6O 104% 104% N Y Edison 3V*s ’6O 101 % 101% N Y Cent 3%s ’46 .’... 97% 98% Norway 4%s ’56 100 100% Norway 4(4s ’65 97% ... Ohio Edison 4s ’66 104% 105 Pacific Lite 4%s ’45 106 106% Pacific G & E 3%s ’6l 103% 103% Penn R R 3%s ’7O 100% 100% Penn Tel 4s ’65 105% 106% Pub Serv N H 3%s ’6O 104% 105V* Pub Serv Okla 4s ’66 102% 102% Railway & Lite 4%s ’55 110 111 Reverse Copper 4Vs ’56 104 104% San Diego G & E 4s ’65 108 108V* Sharon Steel 4%s ’57 108% 108% So Cal Gas 4s '65 104% 104V* So Cal Ed 4s ’6O 107 108 So Cal Ed 3%s ’45 104% 104% So Western G & H 4s ’6O .. 102% 102% A E Staley 4s ’46 103V* 104% Union Pac 3Vis ’7l 99 99% Virginia Rwy 3%s ’6O 102% 103 West Penn Pow 3%s ’63 105% 106

Chicago Stocks (By Atkins, Hamill & Gates) 11:30 Prev. . . ... A. M. close. Advance Aluminum 8% 8% Asbestos Mfg 4% 4% Bastian-Blessing 10% 11% Berghoff 11% 11% Butler Brothers 9% 9% Chicago Yellow Cab 30 31V* Cities Service 5 5% Continental Steel 41 42 Cord 6% 6% C'rane 29% 30 Electric Household 15% 15% General Household 8 7% Great Lakes Dredge 30% 30% Jarvis Mfg 21% 21% Katz Drug 39 38 Ken-Rad T & L 11 Lion Oil Refining 13 i3% McGraw Electric 31 31% Nat Gypsum 58% 58'/* Noblitt-Sparks 31 31 Northwest Bancorporation .... 11% 11% St Louis National 89 Standard Dredge pfd 16 IS Williams Oil-Q-Matic 12% 13 Zenith 17’/* 18% New York Curb (Dy Atkins, Hamill & Gates) 12:30 P. M. Prev. „ _ N. Y. Close. Aluminum Cos of America ....133 138% Am Cyanamid “B” 36 36% Am Gas & Electrio 38 38 Am General 934 9% Am Superpower 2% 2% Ark Natural Gas “A” 6% 6% Atlas Corp 13% 13% Carrier Corp 9% gs/ g Creole Petroleum Corp 28% 29 Crocker-Wheeler IP/* 12 Elec Bond & Share 21% 22% Fisk Rubber 7 6’/* Ford Motors Canada "A” .... 23% 23% Glen Alden (1) 14% 14% Greenfield Tap & Die Corp.... 8 8 Gulf Oil Corp of Penn 92 91 Humble Oil & Refining Cos 69% 69% Huyler's of Del pfd 26 Hygrade Food 5% 5% Int Vitamin 7% 7% Imperial Oil of Canada 23% 23 Irving Air Chute 22% 23 V* Lake Shore Mines 52% 52% Molybdenum Corp of Amer ... 9% 10 Mueller Brass Cos 29 29 V* Natl Bellas Hess Inc 2V 2’* Niagara Hudrjn Pwr 9% 9% Pan-American Airways ... 60 60% Pennroad Corp 4% 4% Root Petrolum ;.. 16% 17 St Regis Paper Cos 4% 4'/* Salt Creek Producers Assn .... 8 8 Sonotone 33% Standard Oil of Ohio 34 34% Stutz Motor Car of Amer 2% 2% Technicolor Inc 30 30 Wayne Pump 33 30%

ABBOTT, PROCTOR & PAINE MEMBERS New York Stock Exchange Chicago Board of Trade New York Curb Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Mercantile Exchange New York Produce Exchange Commodity Exchange, Inc. New York Cocoa Exchange, Inc. Montreal Curb Market New York Coffee ds Sugar Exchange, Inc. 8 EAST MARKET STREET INDIANAPOLIS TELEPHONE, RILEY 5491 NEW YORK CHICAGO BOSTON, MASS. MONTREAL. CANADA RICHMOND, TA. ANDERSON. IND. CLEVELAND. O. APPLETON. Wig. BRISTOL, VA. ROANOKE, VA. CHARLOTTE. N. C. DANVILLE, VA. STAUNTON, VA. NEWPORT NEWS, VA. NORFOLK. VA. KNOXVILLE. TENN. PETERSBURG, VA.

PRESIDENT NOT LIKELY TO CURB SILVER BUYING

Relies on Policy to Draw Heavy Western Vote, Says Writer. BY RUTH FINNEY Times Special Writer WASHINGTON, April 17.—Although there is little chance that President Roosevelt will abandon his silvey-buying policy in election year, recent conversations between Secretary of the Treasury Morgenthau and a delegation of Chinese financiers may bring silver back into the political limelight. China has protested, repeatedly, that our silver buying was ruining its internal economy, but if the Chinese visitors’ principal mission here is to renew that protest, they have chosen an inopportune time. Mr. Roosevelt is relying heavily on electoral votes of Western states to keep him in the White House, and probably nothing could alienate some of them more quickly than‘a reversal of his silver policy. China Stocks Drained When the United States began buying silver in 1934 the result was an immediate draining of China’s stock of currency. Prices crashed, banks failed, exports dropped ruinously. China is estimated to have 2,500,000,000 ounces of silver, a little more than a sixth of the world’s total stock, but most of this money is hoarded and the government has little. In the first three and a half months after adoption of our silverbuying policy, $200,000,000 in silver was shipped out of China, and the Chinese government was forced to levy equalization charges to halt the exports. Since then Chinese holders of silver have been ordered to turn it in to the government in exchange for bank notes, issued by the three government banks and made legal tender. The government is trying to stabilize the exchange value of the silver dollar through government purchase and sale of foreign exchange. On the other hand, Westerners are disappointed that President Roosevelt has not raised the price of silver even higher, regardless of what effect such a policy would have abroad. Price Rises Sharply The Silver Purchasing Act requires that the government buy silver until the price is $1.29 an ounce or until the Treasury possesses a third as much silver as gold. There is much doubt whether, with gold stocks increasing, it can obtain sufficient silver to reach the ratio requirement. The Administration has refused to boost the price to the top limit set in the bill, holding that it would benefit foreign speculators more than domestic producers. However, the silver buying program has raised the price of silver approximately 25 per cent. At preseflt most of the silver bought by the government comes from Canada and Mexico. The government pays for it with newly issued silver certificates but prevents even the small amount of inflation this might cause by retiring national bank notes in corresponding amounts.

Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers Trust 59% 61% Central Hanover 112% 114% Chase 38’/* 40% Chemical National 55’/* 57% Guaranty 290% 293% Irving 15% 17% Manufacturers 49’/* 51V2 National City 34% 36% Cont 111 Chiacgo 155 159'4 First National Boston 46% 43% National Shawmut 46% 48% FIRE INSURANCE Aetna Fire Ins 52% 54% American Ins of Newark 15'4 16% Baltimore American 9V* 10% City of New York 27 29 Federal Inc 49 51% Franklin Fire 30% 32% Great American Ins 29% 31 Hanover Fire Ins 36 % 38 % Hartford Fire 24 , 28'4 Home Ins 38 % 40 V* Ins Cos of A 22’/* 25 National Fire 24 26'/* National Liberty 9% 11% North River 26V* 28V* Phoenix 89 91% U S Fire 56 58 Westchester Fire 36% 38% A.T.&T. EARNINGS TOTAL $153,525,792 Interest Charges $23,368,696 for Period Ended March 31. Time* Special NEW YORK. April 17.—Net earnings of the American Telephone and Telegraph Cos. for the 12 months period ended March 31, 1936, amounted to $153,525,792.10, compared with $142,952,278.72 in the corresponding 1935 period, according to the annual report mailed stockholders by Walter S. Gifford, president. The net earnings, however, were before the deduction of interest which totaled $23,368,696.92 and $24,036,046.47, respectively. Dividends equal to $9 a share, totaling $167,968,692.75, were paid during the year, against $167,960,475 in the previous period. In the first quarter this year, the Bell System reported a net gain of 201,000 telephones, compared with 113,000 in the same period a year ago. The average number of phones in service during the first quarter was 3.8 per cent larger than in the same period of 1935. Toll and long distance calls increases by 13 per cent.

Stock Offered Employes Approximately 18,840 shares of common stock is to he offered employe* of the Youngstown Sheet and Tube Cos. at $25 a share, according to a registration statement filed by the company with the Securities and Exchange Commission.

New Business Books

Available at Library The following new business books are now available at th? business branch of the Indianapolis Public Library: LEGISLATIVE HISTORY OF THE MOTOR CARRIER ACT, 1935, Br Warren H. Wagner. When anew law like this Is passed, lt is always found that there are many provisions which require Interpretation. GET IT RIGHT! By John B. Opdycke. An omnibus of usages on what 1* exact and precise in speech and writing and what is merely passable or downright wrong. Notable chapters: Abbreviations; Special Titles: Salutations and closings; Library Self Service. C. P. A. LAW QUESTIONS AND ANSWERS, 1925-1935, Comp, by J. C. Teevan. • Supplements ar earlier volume which Included legal accounting examinations, 1917-1925. BEHIND THE SHOW WINDOWS, By Jeanette Eaton. The panorama of the essential things bought by the consumer. PROBLEMS OP TEACHING TYPEWRITING. By P. S. Lomax. Typewriting, the most extensively taught business subject.

PORKER PRICES RISE]SCENTS Few Lightweights and Pigs Steady; Cattle, Veals Stationary. New strength developed in the pork market today at the local stockyards, and as a result prices on weights upward from 160 pounds and packing sows were generally 15 cents higher than yesterday’s best average. Few lightweights and pigs, however, continued unchanged. The moderate advance was supported by a continued strong demand prevailing in the medium and heavier grades and a slight decrease in the total number of receipts, which was estimated at 3500. The bulk of choice kinds weighing from 160 to 225 pounds sold at $11.05 to $11.15, while medium classes, scaling 225 to 250 pounds, cashed in at $10.85 to $10.95. Heavy butcher kinds, from 300 pounds and upward, were salable at $10.15 to $10.40. Lightweights, from 140 to 160 pounds, sold at $10.50 to $10.75. Packing sows held at $9.35 to $lO. With largely a week-end cleanup trade prevailing in the cattle market, prices settled down to a steady range. Trading was scarce in practically all divisions, but especially so in steers, which were on a catch-as-catch-can basis. Bulk held mostly under SB. Heifers were steady to $8 to $8.50. Receipts were 500. The veal market displayed only slight ciiange and the bulk of good and choice grades held at $9 to $9.50. Receipts numbered 600. Lambs were firm and active. The bulk of better grades weighing 92 to 105 pounds, mostly clipped kinds, sold at $9.75 down. Practically all other classes were absent. Receipts were 800. HOGS April. Bulk. Top. Receipts. 11. [email protected] $11.15 1000 13. 10.95(311.05 11.10 5000 14. [email protected] 11.10 5000 15. [email protected] 11.05 3500 16. [email protected] 11.05 4000 17. [email protected] 11.15 3500 Light Lights (140-60) Good and choice.. [email protected] Medium [email protected] (160-180) Good and choice... 11.00(311.15 Medium [email protected] (180-200) Good and choice... [email protected] Medium 10.65(311.05 (200-220) Good and choice.. [email protected] (220-250) Good and choice... [email protected] Heavyweights. (250-290) Good and choice $10.55(310.85 (290-350) Good and choice . [email protected] Packing Sows. (275-350 Good 9.75W10 00 (350-425) Good 88 9.50® 990 (425-450) Good 9.25® 960 (275-350) Medium • 8.90® 9 75 Slaughter Pigs. (100-140) Good and choice . [email protected] Medium 8.50® 9.75 CATTLE —Receipts, 500— (550-900) Choice $ [email protected] Good 7.75® 9.50 Medium 7.25® 8.25 Common 5.75® 7.25 (900-1100) Choice [email protected] Good 8.25® 9.75 Medium 7.25® 8.25 Common 6.25® 7.25 (1100-1300) Choice [email protected] Good 8.25® 9.25 Medium 7.25® 8.25 (1300-1500) Choice [email protected] Good 8.25® 9.75 Heifers. (500-750) Choice B.oo® 8.75 Good 7.25® 8.25 Common and medium 8.75® 7.25 (150-190) Good and choice .... 7.25® 8.75 Common and medium 5.50® 7.25 Cow* Good 6.25® 6.75 Common and medium 5.25® 6 25 Low cutter and cutter 4.00® 5.25 Bulls, good 6.25® 6.75 Cutter, com and med bulls 5.75® 6.50 VEALERS —Receipts. 600— Good and choice $ 8.50® 9 50 Medium 7.00® 8.50 Cull and common 5.00® 7.50 Calves. (250-500) Good and choice.... 6.00® 9.00 Common and medium 4.50® 6.25 Feed and Stocker Cattle (500-800) Good and choice 7.00® 8.25 Common and medium 7.50® 8.25 (800-1050) Good and choice ... 7.25® 8.75 Common and medium 5.50® 7.25 Cows Good * 4.75® 5.25 Common and medium 4.50® 4.75 SHEEP AND LAMBS —Receipts. 800— Lambs, 90 lbs. down; good and choice [email protected] Good [email protected] Medium 10.00® 10.40 Common 8.50®10.00 Ewes. (90-170) Good and choice... 450 ® 5.60 Common and medium 3.W® 4.75 Yearling wethers, good, choice [email protected] Medium 8.50® 9.50 DIVIDEND IS DECLARED Time* Special CHICAGO, April 17.—A quarterly dividend of 50 cents a share, payable May 10 to stockholders of record April 27, 1936, has been declared by the Union Bag and Paper Corp. i

Genuine ‘KOVERITE’ INSIDE and 1 * ; j OUTSIDE 9^2 UU My l|fj , - nn r Prepared BGAL. W ' W undrr eiartinr *peeiflration Demned for ** t ' on beauty of flnish. u CHOICE OF 16 COLORS AND WHITE ■ -44SSfc: featured ■ Kof colors. Can.... 10c jC? Reliance 4-Hour Hl-Gloss Enamel. *1 PA Choice of 12 colors. Gal #i.d(J Princeton Spar Varnish. • | a A Will not aerate!; white. Gal )lUU Alabastines’ Freacoat ff Iba. Oft KaK'omine, Choice of colors for Ow C THE PAINT MARKET 545-351 W. WASHINGTON BT. 209 E. WASHINGTON ST.

LOWER COUPONS FAIL TO CURTAIL BOND PURCHASE

Institutions Indisposed to Put Obstructions in Path of Issues. BY CHARLES H. HUFF Times Special Writer NEW YORK, April 17.—Result* announced for the Federal Land Bank's refunding operation are interpreted in most investment quarters as fairly positive indication that it is premature to suppose that institutional investors are disposed to throw an obstruction across the path of the interest-cutting processes that characterize the vast bulk of current financing activity. The fact that holders of approximately $155,000,000 of 4H per cent bonds, out of a possible $185,000,000, readily accepted 3 per cent bonds ns a substitute was considered conclusive on the subject. Corresponds to Wage Cut Arguments on the other side, of course, are heard to the effect that institutions have little choice and accepted the 3 per cent-bonds in preference to turning in their 4Vis for cash. Nevertheless, confessed helplessness is taken to support, rather than refute, the contention that there is not yet on the financial horizon any threat to continued success for the current trend of refunding at steadily shrinking interest rates. The earnings cut handed out to the holders of the Land Bank 4’3S was drastic—it corresponds to a wage cut of 33 1-3 per cent. The reduced rate of return was accepted for a term of possibly 20 years. It affected almost exclusively institutions, since Land Bank bonds usually find a resting place In institutional portfolios. Competition Is Evident It is not difficult to understand why the exchange offer of the Federal Land Bank was so generally accepted, if the factor of competition is taken into account. There was a vast surplus of takers waiting across tne counter for the 3 per cent bonds, anxious to put their money to work at the lower earning scale. The holder of the 4V£s were much like a working force that reads a bulletin-board announcement of a wage-cut and knows that a long line of applicants Is Just outside the door waiting to take the jobs at the smaller wage. As against holders of $155,000,000 of bonds acceding to the drastic downward revision approximately $500,000,000 of idle funds were asking for the 3 per cent bonds, alone two and three-quarter times the total needed for the entire job. It is reported that some of the cash subscribers received as little as 3 per cent of the amount for which they subscribed. SETS PRODUCTION MARK Times Special NEWARK, N. J., April 17.—TungSol lamps set anew production record during the first quarter of 1936, having exceeded production for the similar quarter in 1935 as well as for the last quarter of that year, according to reports of A. T. Browner, treasurer. Other Livestock (By United Press) CHICAGO. April 17.—Hogs—Receipts. 7000, including 3500 directs: steady with Thursday’s average on weights below 230 lbs. heavier weights steady. 5 cents lower; top, $11; bulk. 160-270 lbs., $10.75@11: 270-350 lbs.. [email protected]; 140-160 lbs.. $'[email protected]; sows mostly [email protected]. Cattle—Receipts 1000; calves, 500- no reliable outlet for light steers; killing quality plain; mostly kinds to sell $7.50@3 25: these ;id 25 cents or lower; heifers dull about steady; best around. $7.75; fat cows slow, ;ending lower; low cutters and little changed; bulls and vealers steady weighty sausage bulls. $6.50: vealers mostly SO dwon. Sheep—Receipts. 9000; general market about steady; some early weakness being quickly recovered; strictly choice wooled lambs unevenly higher; two loads of Colorados, $11.40: early bulk choice kinds, [email protected]: with numerous load* good medium weights, *10.754* 11; few clipped lambs. $8.85@9; wooled ewes mostly $5.25 @5.75. Chicago Grain Futures (By James E. Bennett & Cos.) Wheat— High. L/iw. AM. close. May 99% .98% .99% .97% July 91% .90% .91% .89% Sept 89% .88% .89% .89% CornMay 61% .61% .61% .81 July 61 .80% .61 .81% Sept 80 .59% .59% .59% Oats— May 28% .26% .28% .36% July 27% .27 .27% ,27 Sept 27% .27% .27% .27% RyeMay 54% .54 .54% .53 % July 54% .53% .53% .53% Sept .54% .54% .55 .54% LOCAL CASH MARKET City grain elevators are paying 93 cents for No. 2 soft wheat. Other grades on their merits. Cash corn new No. 4 yellow 48 cents and oats 18 cents. CUFF DEPOSIT uni L DEPARTMENT American National Bank AT INDIANAPOLIS Mmbr Federol Dpont Insurance Corporation