Indianapolis Times, Volume 48, Number 44, Indianapolis, Marion County, 1 May 1936 — Page 22

Trends Proposes Changes in New Tax Bill. BY JOHN T. FLYNN

NEW YORK, May I.—A report from Washington indicates that in the Senate a movement is on foot to alter greatly the new corporation tax bill. The proposal is in line with the suggestion made by this writer when the subject was broached. The plan may be described as follows:

At present all c o r p o rations earning over $40,000 a year are required to pay an income tax of 15 per cent on their earnings before and is tr i buting dividends. When the dividends come into the hands of the stockholders they are not subject to the normal tax of 4 per cent. But they are subject to

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Flynn

the surtax, whatever it may be—and it may be very large. But if the corporation does not distribute its earnings then they do not form any part of the otockholders’ income and thus escape the surtax. * U St WHAT the government should seek is to make up the loss of taxes which it suffers when a corporation does not distribute any part of its income. The President, to do this, has made the extraordinary proposal that all corporation taxes be abolished, save a tax on undistributed income. But is there not another way? I urged: 1. That the government retain the present corporation income taxes of 15 per cent. 2. That it tighten up the excess profits tax and retain the capital stock taxes as an essential check on excess profits tax evasion. 3. That, then, in order to capture the taxes lost through corporations’ failure to distribute earnings, the government impose a tax on those undistributed earnings. This would accomplish all that the President seeks without sacrificing any of the gains under the present law. , n BUT also the tax on the undistributed profits would not have to be so great. It need be only a fraction of the present proposal. The chief thing to be kept in mind would be to fix the tax at a rate which would yield the Treasury what it now loses on surtaxes. A proposal like this would be easy to understand. It would bring to the government the funds it needs. It could, indeed, be made a far more fruitful tax. And at the same time it would impose less burden on industry and be fraught with fewer dangers. What is more, there would be fewer loopholes for tax evasion. I predict that if this new bill becomes a law a whole new’ batch of loopholes will be invented under it. This w r as true of the present plan of corporate taxation. But year by year the Treasury has been plugging up these holes. To abandon the present plan is to force the government; all over again to cover the ground of learning how to impose corporation taxes. (Copyright. 1936. by NFA Service. Inc.)

STANDARD OIL STARTS TRAINING CONFERENCES 250 Service Men and Dealers Expected to Attend. Approximately 250 service men and dealers of the Standard Oil Cos. of Indiana are to attend tonight the flnst of a series of training conferences to be held in the Lincoln. Anew summer sales program, including a sales contest with Chicago trips as prizes, is to be explained in anew and novel manner in a sound picture, which was especially filmed for the Standard Oil Cos. with Hollywood stars. The advertising schedule for the summer also is to be outlined. Indianapolis officials and salesmen who will participate are E. P. Galbreath. H. H. Akers. G. E. Lewis. G. S. Heath. R. H. Schellschmidt. and Simon Heemstra. EARNS $2.56 A SHARE Business Machine Corp. Reports $1,889,921 In First Quarter. Timm Special NEW YORK. May I.— The International Business Machines Corp. today reported earnings for the three months ended March 31. 1936. of $1,889,921 after all charges and deducti-'n of estimated Federal taxes, equivalent to $2.56 a share on 738,934 no par capital shares outstanding. This compares with earnings for the corresponding 1935 period of sl,771,914, after all charges and deductions of estimated Federal taxes, equivalent to $2.39 a share based on an equal number of shares. Earnings for both years include those of foreign subsidiaries. Produce Markets Tha prices quoted are paid for stock {lathered in the country, while delivered n Indianapolis the price is a cent higher. Heavy breed hens, 17c; Leghorn breed hens. I4c: old cocks. 9c: ducks, white, 5 lbs. and over. 7c; geese full feather, all sizes. sc: all guineas l'j lb-- snd uo. 15c. No. 1 strictly fresh eggs loss oif. 17c; delivered In Indianapolis. IBc. Bach full ease must weigh 55 lbs. gross: a deduction of 10 centi a pound under 55 lbs. will be made No. 1 butter, 30'iS31'2c; No. 2. 27 , ]9 30 , 2c. Butterfat. 26c. ißv United Press) ..£?5£ AC I? N* T 1 'Bees—Market steads-; receioU. 17.543 cases: fresh graded firsts. ?£ <•: ftrtrn firsts, 21c: current recelrn*. i6'| c . dirties, use; checiu. 18'*e Butter —Mark* unsettled: receipts 10,216 tubs: extras <9* score). 26',c: extra first* <O--i SJW- 26c: firsts .88-691 2 score., 2s‘ f 2S.c: specials. 27*17',e; standards. 26V*e Poultry—Market unsettled: ree*mts fT trucks: ducks 13f17c: geese, lo# 12c broiler*. 24525 c: soring chickens. 2*ii 2*c hens 17!#20>,c: turkevs. 3022 c: csponi. 2S*lßr. Leghorns 15©19c: frvers. 24 *26. • Cheese—-Daisies. 14' s l**i c: twins 14#:4>*c. Longhorns 14' ? U4**e Pot.atoea—6upt>lv light, demand light, marks' Idaho Russet Burbanks. *J

PAGE 22

600,000 AIDED BY RRA. SAYS REX TUGWELL Resettlement Head Reports on First Year’s Work Over Radio. By United Press WASHINGTON, May 1. The Rural Resettlement Administration, in the first year of its existence, “lent a helping hand” by loans or grants to 600.000 farmers and their families, Rexford G. Tugwell said today. The RRA administrator, in observing the first birthday of his organization, said in a network radio address that “we have made good progress” toward achieving aims set forth by President Roosevelt in creating RRA a year ago. “We were given two jobs to do,” Mr. Tugwell said. “The first was to care for some 525,000 farmers and their families who were in need of immediate help. The second was to do something about the poor and worn-out land which has made decent farming impossible.” In working toward that goal, he said, RRA loaned nearly $100,000,000 to 300,000 farm families. He estimated 75 per cent of this either had been or would be repaid. “Definite Progress” Made The RRA, Mr. Tugwell said, has made “definite progress” in rescuing “our farm people from the hopeless, disadvantage of working poor land. It will take years, however, to solve the problem, he said. Pointing out that “poor land makes poor people,” Mr. Tugwell said “the depression had taught even the most conseravtive of us that it is not true that the poor are poor because they are lazy and shiftless.” During the year RRA finished buying 2,000,000 acres of poor land which was converted into parks and game preserves and obtained options to purchase 8,000,000 more acres. RRA is building 20,000 of the “best low-cost houses ever constructed.” “We have not thought of prettiness, but we have thought long about foundations, roofs and time-resisting materials,” Mr. Tugwell said.

MORTGAGE OFFICES ARE OPENED HERE Otto Meyer & Cos., Inc., in New -Quarters. New offices of Otto Meyer & Cos., Inc., Indianapolis mortgage loan correspondent for the Lincoln National Life Insurance Cos. of Fort Wayne, Ind., have been opened at 1207-8 Fletcher Trust Building, it was officially announced today. The company intends to provide its customers with a- complete real estate and loan service, with loans to suit all needs, running from 5 to 15 years and payable on a semiannual basis. Other services offered are pioperty management, insurance in the largest and most substantial companies, and investments. Officials of the local division are Otto Meyer, president, and F. S. Kirkwood, secretary-treasurer. Both men Imve had considerable experience with Indianapolis properties for the last 15 years, and have been actively engaged in the sale of mortgages in many other states. Local Securities (By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying anc'. selling Inquiries or recent transactions. BONDS . Bid Ask Home T*T Ft Wve. 5V 2 s ’55 103 105 Home T & T Ft Wye. 6s ’43 103 106 Indianapolis Railways. Inc 55.. 05 68 Indianapolis Water Cos 4’js ..106 108 Indianapolis Water Cos 5s 105 107 Indianapolis Water Cos 5s 105 107 Indianapolis Water Cos 5V,5.. 103 Vi 10b * Indianapolis Water Cos sVis ..103 Vi 106 Interstate TSz T sVis 97V4 98 Kokomo Water Works 5s 104 105 Vi Morris 5 Sz 10 Stores 5s 100 103 Muncie Water Works 5s ,103 >4 Noblcsvilte HL & Pwr 6'. a s ..100 10114 Ohio Tele Service 6s .. 97Vi Richmond Water Works 5s ..105 1 06'-'* Seymour Water Cos 5s 101 104 Terre Haute T & L 5s 106 108 Terre Haute Water Wks 5s ..102 104 Terre Haute Water Wks 6s ..103 105 Traction Terminal Cos 5s 76 79 STOCKS Belt Rail & Stk Yds Com 53 55V4 Belt Rail & Stk Yds pfd 6s .. 52 Central Ind Pwr pfd is 18 21 Home T&T Ft Wayne 7s 52'i 54'4 Hook Drugs Inc com 17V* 19 Ind Hydro Elec Cos 7s 53 58 Ind Gen Serv Cos 6s 98 100'4 Ind Hydro Elec Cos. 7s 55 58 Indpls Gas Cos com 30 35 Indpls Pwr <St Lt Cos pfd 6s .. 87 90 Indpls Pwr <fe Lt Cos pfd 6'js 91 94 Indpls Water Cos pfd 5s 102 105 N Ind Pub Serv pfd 5' 2 s fio 63 N Ind Pub Serv pfd 6s 67 70 N Ind Ptib Serv pfd 75... 77 80 •Progress laundry Cos com ... 10 11'/* Pub Serv Cos. of Ind pfd 65... 17 20 Pub Serv Cos. of Ind pfd 7s 35>4 39 1 4 S Ind Gas Sz Elec Did 6s 99 102 Terre Haute Elec Cos 6s 92 94 "sag Chicago Stocks ißv Atkins. HamiU * Gatesi 11:00 Prev. Asbestos Mfg A '34, Cl °3i e g Associated Investors 32 32 Berghoff iot, ioa Butler Brothers 8* 8 ! I Chicago Rivet Sz Machine L.'B'a Cities Service . 4 3 i 4*. Commonwealth Edison 99’, 99', Continental Steel 3 3 3 34 Cord .. 5 V 5 Crane 25 25 Davton Rubber .. iui nai Electric Household 15’* 15** General Household 6 T * 6\ Godchaux Sugar A* . S3 3 , .... .Tarvis Mfe 19 7 * 20 Katz Drue 33 7 , 38 Ken-Rad T * L 10 10 Llbbv. McNeil * Libbv 8 7 7 i Lincoln Printing lo 3 i IOVj Lion Oil Refining 12 12 NcbUtt-Snarks 27 27 Northwest Engineering 20 3 i 20U Standard Dredge pfd 14 Swift International 29'i 2R 7 Vortex Cub 18 18V* Zenith 17 16*, Chicago Grain Futures (By James E. Bennett * Cos.) 900 Prev. Wheat— High. Low. A. M. Close. Mav 99 .98' 3 .9R, .99 July 87, .86’, .87 .87S Sept .85', .84*, ,84 3 i .85', Corn— Mav 64 .83 ,53 7 ,83'i July tii : , .61 % .81V* .61*, Sept 60', .59 7 .60 .60** Date— May 25** 23 ,25 7 i .2S>4 Jlfly 2.5 7 25H .35’, .25-'; Sept 26 7 .26 ,26's .26'* Bye— Bent ~s?t* jtv* jiiu

Abreast of The Times on Finance

to . I ; WKLY BUSINESS TREND : '|/ \ A : AA 7 d_^y^, 7 a i AJ \l 2 £ Y ' / WOODY’S DAILY * *:• I /V r /• COMMODITY INDEX. i Trrr\} 11 T|~ "I Ji. 1 7 —l5O V 1 \ / ? \ /••-* V V’ * MOODY'S INVESTORS SERVICE ' * 70 - I . : i 1140 fPR. MAY JON. JUL. AUG. SEP. OCT.- NOV.". DEC. "AJAN. ,FEB. MAR. APR. 1935 1936

New York Stock Exchange Prices

(By Thomas & McKinnon.) Noon Prev. Oil*— High. Low. N. Y. Close. Amerada 102 102 102 102 All Rfg 29% 23% 29(4 28% . Barnsaall 17% 16% 17% 17 Consol Oil 12'/* 12 12 tt 12 Cont Del 31% 31 %333,1 3 , 31 Vi Houston (new).. 8% 8% 8% 8% Mid Cont Pet ... 19% 18V, 19 18'/a Pet Corp 13% 13 Vi 13% 13 Phillips Pet ... 42V, 42% 42>/a 42'/t Pure Oil 19V4 18% 19 19 Seaboard Oil ... 34 34 34 33% Shell Un 15% 15% 15% 15 Soc Vac 13% 13% 13% 13% S O of C'al 39% 38 38 38 Vi S O of Ind ... 34% 34% 34% 34% SOof N 3 59% 58’/a 59% 58% Texas Corp .... 34% 33% 33% 33U Tidewater Assn 16% 16% 16% 16 V* Un Oil of Cal ... 22% 22% 22% 22 Steels — Am R6ll' Mills ... 27% 26’% 27% 27% Beth Steel 50Vt 48% 50 49% Byers A M 17% 17% 17% 17% Cruc Steel 30% 30% 30% 28 Inland Steel 94 93% 93% 94 Ludlum Steel ... 24Vi 24% 24% 23% Mid S/eel 37% 37 37 37 Natl Steel 58% 58% 58% 58 Otis Steel 14% 13% 14% 13% Rep Irn & Steel 18% 18% 18% 18% Rep Irn & Stl pf 80 80 80 79 U S Pipe & Fdv. 33 % 33 33 32 Vi U S Steel . .... 57% 56% 57% 57% U S Steel pfd ... 122 122 122 123% Warren Bros .. 8% BVi 8 % BVt Youngstn S&, T 52% 51% 52% 51% Motors— Auburn 34% 33% 34% 33% Chrysler 95% 94% 94V, 95% Gen Motors .... 61% 60% 61% 61 Graham Mot ... 2% 2% 2% 2% Hudson 14% 14% 14% 14% Mack Truck 29% 29 29 29 Nash 17% 17% 17% 17% Packard 9% 9% 9% 9 Reo 5% 5% 5% .5% Studebaker 11% 11% 11% 11% Yellow Truck ... 18% 17% 17% 177a Motor Accessories— Bendix 27% 27% 27% 27% Bohn Alum 47 Va 47% 47% 48 Born Warner ... 69% 69% 69% 68% Briggs 47% 46 46V 46% Buad Mfg 14% 14 14 14% Budd Wheel 9% 9% 9Vi .9% Eaton Mfg 32% 31% 32% 31Vt Elec Auto Lite . 33% 33 33% 34 Elec Stor Bat .. 46% 46% 46% 46 Greyhound *‘B”. 53 52Va 53 54 Houdaille 24% 24V* 24% 24% Murray Body ... 15% 15% 15% 15 Stew Warner .. 18% 18 18% 18% Timken Roll ... 59 58Vi 59 57% Tim Det Axle.. 15% 15% 15% 15% Mining— Alaska Jun 14% 14'% 14% 14% Am Metals 27% -27% 27% .27% Am Smelt 74'% 73 73% 72Va Anaconda 37% 32% 33% 32% Cal & Hecla ... iO% 10% 10% 10% Cerro de Pasc-..53% S3V* 53% 53'% Dome Mines .... 51% 51% 51% 51 % Gt Nor Ore 16% 16% 16'% 16 ! % Howe Sound ... 49% 49% 49% 49’% Ins Copper 10% 10% 10% 10% Int Nickel 45V* 45 45 45Va Kennecott Cop .. 36% 35% 36 35’% Mclntyre Mine.. 42V* 42 42% 42 Paik Utah 3% 3% 3% 3% Phelps Dodge .. 32% . 31% 32), 31% St Joe Lead 23% 22% 23V* 23% U S Smelters .. 89 88 rs BC% Vanadium 18% 17% iB% 17% Amusements— Crosley Radio . 26% 26% 26% 26% Loews Inc 46 45 45'% 45% Radio Corp 10% 10% 10% 10% Paramount 8% 8% 8% 8% RKO 5% 5% 5% 5% Warner Bros 10V* 9% 9% 9% Tobaccos— Am Snuff 60 60 60 59" Am Sum Tob 22% 22% 22% 22% Am Tob "A" 89% 89% 89Va 89 Am Tob ‘"B" . . 90% 90 90% 90'/a Ligg-Mvers "B'MOl 101 101 101V* Lonllard 22% 22V* 22% 22% Phillip Morris 79V, 79 79% 79 Reymds Tob "B'’ 51V* 50’% 51V* 50% Kails— Atchison 71'/* 70Vi 70'/a 70Vi Atl Coast Lines .. 23% 23% 23% B&O 17% 17 17*4 17% Can Pacific 1% 11% 11'/* 11% Oh & Ohio .... 55 54< 55 54 CM & St P . 1% 1% 1% 1 % CM& St P pfd 3% 3% 3% 3% Chi N W pfd... 6% 6% 6% 7% Dela & Hud ... 39 38 38 39 Del Lac V W .. 15% 15% 15% 15% £ ne 12% 12% 12% 12% trie pfd 17% 17 17% 16% Gt North pfd... 35% 34', 34% 35% IJ 1 Central 20% 20 20 20 K C Sou 19 18Vi 18% 18% Lehigh Valley . 9>/ a 9% 9% 9% M K & T pfd.l 19% 19’, 19% 20 Mo Pac pfd 4Va 4% 4% 4% NY Cent ...34% 33 V* 33% 3 t% N Y New Haven 3% 3% 31. 3 N Y Ont & West 4% 4 s , 43. 411 Nor Pacific .... 27% 27% 27% 27% Penn R R .. .. 29', 29% 29% 29% Sou Pac 30% 29% 29% 30% ® ou R 14% 14% 14% 14% wTct nPaC , % 124 123,3 123, ‘ 124 West Maryland .9 9 9 9 Am Car At Fdy. 32 30', 31% 31% Am Loco ... 25% 25% 25% 24 S ' eel Fdy- • 24% 23% 23% 23% Bald Loco 3'* 3% 3% 3 2?" £i m Tk Ctr 44 * 3 44 43% I'n o •••■ 3<s '’ 3fi 36% 353* Gen R r Sig.... 35 34 % 35 333 PuHnian Inc . . 41% 41% 41% 41 West Air Br .... 37 36% 37 351W'estingh Elec ..107V, 104% 106% 105 s s Utilities— Am & For Pwr.. 6% 6% 6% 6% AmPwr & Lit . 9% 9% 9% 9% "'• m 15133 Wl 3 * 15a W at Wks • 20% 20 20% 20% Col Gas <fe Blec. 17% 17% 17% 17'* Comm & Sou 2% 2% 2% 2% Consol Gas ... 20 3 4 2Q *>93. 20if Py & Lit 14V* 13% 141: 13% Int Hydro Elec.. 3 3.32% L n ’, T*T■ t, • 11! ’* 13 ' 13 '4 13% * r * Lit .10 9'* 10 10 North Amer 24% 24 24% ?4% £?£ O* ® 34% 33% 34% 34 y ib ®f r y N J■■ 40% 4040% 40 (So Cal Edison... 25% 25% 25% 25% Std Gas .... 5 3 * 5% S'* 53' S’?"* * Web ster 16% 16% 16% 16% United Corp ... 5% 5% 5% 5% Un Gas Inin 14% 14% 14% U 7, Ut Pwr &Lt ‘A' 4% 4% 4% 4% Western Union.. 77% 75% 77 76% Rubbers— R°°l rich 19 18% 18% 18% S°° d > ea '\ 25% 24% 24% 24% R I o U^ er 28 ’ 28 28% 28% U S Rubber pfd 68V* 67 V* 68 67 Miscellaneous— Allis Chalmers.. 43% 43 43% 43 w an v. % 125 135 125 125 Am Mach A: Fdy 22% 22% 22% 22% nryi^ or w ap ' 32 * 32 '* 33 * 23 Brklyn Man Tr.. 46% 46% 46% 46% Burroughs Add.. 27 26 26% 25% £*<?*** 147 Vi 144% 147% 144% Conti Can 75 745, 75 731 Caterpillar Tract 69 68% 63% 66% Curtis Pub 18% 18% 18% 19 * Cos 77: *- 76 '< 77 % 75% 3 * 15% 15% 16 46'* 45% 46'* 45% 5*L V W " 81i 80 ' 81 ’ 80 , Natl Cash Reg 23% 23', 23% 23 Owens Bottle . 142 142 142- 141 ' 5f m , w lUnd —21% 21 31% 21% : Worthington Pm 28 36 26 24 Foods—--lAm Sugar ...... 50% 50% SOV* 50 ! Armour 5 4% 5 4% : Beatrice Crmry. 30”, 20% 20% .20% I Borden Prod 26 s * 26 26% 26% | Canada Dry OAI 11% 11% 11% u Coca Cola 85% 85 85 V, 84% Corn Prod 72% 72 72 % 71% Crm of Wheat. 35 35 35 35 Cub Am Sugar. 10% 10 s , 10% 10% i Gen Baking ... 11% n% n% n% i Gen Goods 38 37% 37% 87% Gold Dust 18 17% 17% 17% G W Sugar ... 33% 33 33 33 ! Natl Biscuit 38% S3 33 % 32% i Natl D Prod .. 23 21 % 22 21% i Puritv Bak .... 11% 11 s , 11% 11% ! Std Brands .... 15% 15% 15% 15% iOn Biscuit .... 25% 25 s * 25% 25% United Fruit .. 70', 70% 70% 70 | Retail 5Um—--1 Allied Stores .. 7% 7% 7% 7% | Gimbel Broa .... >.* 8% XV* 8% IGm Un Tea ... 8% 3% 3'y 8%

FRIDAY, MAY 1,1936

COMMODITY AND TRADE TRENDS CHARTED

McCrory St .... 12% 12% 12% 12V* McLellan St . ... 12% 12 12Vi 11% Marshall Field.. 15 V* 15 15% 15% May Dept St ... 44 V* 44 V* 44 V, 43% Mont Ward 39V, 18V* 38’/, 38% Natl Tea 9 9 9 9 Penney J C 73 73 73 73 Safeway St 31% 41V* 41V* 41% Sears Roebuck.. 65V* 64% 64V, 65% Woolworth 48% 47% 47% 48V* Aviation— Aviation Corp .. 5V* 5”, s'/* 5 Boeing Aircft ... 18V* 17% 17V, 17V, Curtiss Wright.. 5% 5% 5% 5% Curtis Wright A 14% 13% 14V* 13V, Douglas Air 56% 55 55 56% Nor Am At .... BVa 8 8 7% Sperry Corp 16% 16% 16% 16% United Arcft New 21% 211* 21% 22 Chemicals— Air Reduction .. 60*% 60'% 60% 60 Allied Chem .. 185 184 185 182 Am Com Alcohol 24 24 24 24 Com Solvents .. 17 V, 17% 17 V, 17% Du Pont 140 139 139% 139 Freeport Tex ... 30% 30'/* 30V* 30 Liquid Carb 36% 36 36% 35% Natl Dis (new).. 28% 28Vi 28% 28% Schenley Dist .. 40 38% 38% 40 Tex Gulf Sulph.. 34% 341* 34% 34% Union Carbide .. 78% '7B 78'% 77'% U S Indus Alcohl 48 47% 48 47V% Drugs— Bristol Myers .. 4% 4'% 4% 4% Coty Die 20 19 s , 19% 19% Lehn & Fink ... 15% 15*/* 15V* 15V* Sterling Prod ... 67V* 67 67% 67 Un Drug (new).. 11% 11% 11% n% Zonite Prod .... 6% 6% 6% 6% Financial— Adams Exp 10V, 10% 10% 10% Allegheny Corp.. 2% 2% 2% 2% Am Int Corp ... 10V* 10'/* 10V 10% Chesa Corp .... 64 64 64 65% Transamenca .. 12 11% 12 11% Tr Conti Corp... BV* 8% 8V 8% Building— Am Radiator ... 20V* 19% 20V 19% Gen Asphalt ... 25 25 25 25% Holland Furnace 34% 34% 34% 33% Int Cement ... 45% 44V, 44% 43% Johns Manville.. 97 96 97 95 N. Y. Bonds (Keprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails Utils. Bonds Today 90.0 89.4 104.2 94.5 Yesterday 90.2 89.2 104.2 94.5 Week ago 90.7 90.6 104.6 95.3 Month ago 91.9 91.8 104.9 96.1 Year ago 87.3 76.1 96.5 86.6 1936 high 93.4 95.6 105.5 97.9 1936 low ... ... 90.2 84.7 103.5 93.3 (Copyright, 1936, by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasurys Prev. Close Close 3%s 1946-56 111.4 111.2 3%s 1943-47 108.2 108.4 3 Vis 1941 108.28 108.30 3'*s 1944-46 107.10 107.12 3 ss 1946-49 105.20 105.25 3s 1951-55 104.12 104.13 3s 1946-48 104.30 104.80 2%s 1945-47 103.7 103.8 2%.s 1951 101.29 102 Home Owners Loan Corp. 2%s 1949 ..101.15 101.20 3s 1952 101.15 101.20 3s 1952 102.21 102.26 Federal Farm Mortgage Corp. 3%S 1964 ....104.10 104.9 3 s 1949 102.30 102.29 3s 1942-47 "... 103.23 103.20 2%s 1945 102.9 102.8 DOMESTIC Prev. Close, close. Allee Corp 5s '44 90 89V* Alleg Corp 5s ’49 84 82% Am Frgn Pow 5s 2030 70 s /* 71% Am Tel & Tel 5%s '43 112% 112% Am Tel & Tel 5s '65 112% 112% Arm & Cos (Deli 4s ’55 97 97V, Atl Coast Line 4s '52 96 96% Atl Coast Line 4V,s '64 76% 76% Atch Top & S Fe 4Vis '4B 111 111 Am Wat Wks 5s '44 102 I'’ 102 17 Am Rolling Mills 4%s '45 115% 115 Balt & Ohio 6s '95 91 Vi 91 Balt & Ohio 4 Vis '6O 66% 67 V* Buff Roch <fc Pitt 4%s '57 74 75% Beth Steel 4Vis '6O . 102% 102% Chi Milw &StP 5s '75 18% 17'/, Chi Milw & St P 5s 2000 6'% 6 Cieve Un Term 5s ‘73 106', 106% Cleve Un Term 4Vis ’77 101% 102% Col Gas 5s May ’52 103 103% Col Gas 5s '6l 102 Vi 102'/, Can Pac Perp 4s 91 91 Cent Pac 5s 60 96% 97% Big Four 4Vis ’77 88% 88 Big Four 5s ’63. . 96 96% Colorado & So 4%s ’BO 67 68 Chi & West Ind 4s ’52 ... 102% 102 Chi & W’est Ind 5%s 62 106V* 106% Chi & Nor West 4**s ’49 10% 10% Con Gas ’57 103.27 103.29 Chesa Corp 5s ’47 125 125”* Del <fc Huds 4s ’43 83 % 83% N Y Dock 4s ’sl 66% 66% NY" Dock 5s ’3B 65% 65% Erie 5s ’75 72 73 Gen Cable 5%s ’47 104% 105 Grt Northern 7s ’36 101 101.2 Grt, Northe-n 4%s ’76 101% 1015, Grt Northern 4%s ’77 101 100% Gen Stl Cast WW 5%s ’49 ... 76 78 Hud & Manhat Ref 5s ’57 83% 84 111 Cent 4%s '66 69V, 69”, 111 Cent Jt 4Vis ’63 78% 78% 111 Cent 5s ’6 3 82”, 81V* Interlake C&I 5s 'sl 92V, 93 Intertl Hy Elec 6s '44 41% 41 Interntl Tel & Tel 4%s ’39 90 91V* Interntl Tel & Tel 5s '55 80 81 Interntl Tel <fc Tel 4%s '52 ... 73% 74% McKees & Rob 5%s 'SO 103 103% Natl Dairy 5%s '4B 102% 103 Natl Steel.4s ’65 ; :.104% 104 V, Nickel Plate 4Vis '7B 81% 80% Nickel Plate 5%s ’74 92V* 93% N Y Cent 5s 2013 89 89 N Y Cent 4%s 2013 (old) 81 82 Nor Amer Cos 5s ’6l 104% 105 Nor Pac 3s 2047 7g3 4 731,, Nor Pac 4Vis 2047 ...'. 100' 100% Nor Pac 6s 2047 110% 110% Nor States Pow 5s ’4l 104% 104% Otis Steel 6s ’4l !..102% 102% Penn Ry 4Vs ’B4 107% 107 V* 1 ’nn Ry 4V*s 'Bl 107% 107% Venn By 4%s ’7O 102% 102 Pac G&E 5s ’42 ... ... 102% 102% Portland Gen El 4%s ’6O 67% 68 Para Publiv 6s '55 85 85% Penn P& L 4 Vis ’Bl 106% 106% Postal Tel & Cab 5s '53 29 28% Shell Union Oil 5s ’47 941% 943. Sou Pac 4%s ‘ 3 B 7% 88 Sou Pac 4%s ’Bl 87 88 Sou Pac 4 Vis '69 87% 88 Sou Pac 4s '49 84% 89% .Sou Rail 4s ’56 5734 ,58% Sou Rail 6s ’56 os SOl Rail 6'is '56 ’... 77% 76*i Texas Pac 5s 'BO 101', 101% Texas Pac ss’ 79 I.llllilOl 107% Union Pac 4s ’47 113% 113% United Drug 5s ’53 98 s , 99% ns Rubber 5s ’47 105% 105% NY NH & Hart 6s '4B 31 30% NY NH Hart %s ’67 30% 30 Warner Bros 6s '39 91% 90% Western Mary 5%s ’77 107% 107% Western Marv 4s '53 99% 100 Youngstown S <te T 5s ’7O 106% 106% Youngstown S & T 5s '7B ..105V, 105% FOREIGN Argentina A 6s ’57 100% 100% Argentine B 6s ’SB 99% 99% Brazil 8s ’4l 31% 32 Canadian Govt. 4s ’6O ...107% 106% Denmark 5%s ’55 100% 100% German 5%s '65 25 35% German 7s ’49 33% 33% Italy 7s ’sl 69% 69% Japan 6%s ’54 96 95% Poland 7s ’47 82 92% Rome 6'is '52 61V*. 60% Tokio Citv 5%s ’Bl 74% 75% carr deposit □firC DEPARTMENT American National Bank AT INDIANAPOLIS

Libby Owens Gls 50% 49% 50% 49% Otis Elev 25V* 25V* 25V* 25% U S Gypsum ... 85 85 85 86% Household— Col Pal Peet ... 16 15% 16 16 Congoleum 36 V* 36 V* 36 V* 35 % Kelvinator 20% 20% 20% 20% Mohawk Carpet. 23% 22% 22% 22% Proc & Gamble. 42% 42 42 42 Servel Inc 18% 18% 18% 18”, Simmons Bed... 26 25',2 25V, 25% Textiles— Amer Woolen ... 8% 8% 8% 8V Belding Hem ... 14 14 14 14V* Celanese Corp . . 23'i 23% 23% 23% Collins Aikm.'n.’. 42Va 42Va 42% 42% Gotham Hose .. 8% 8% 8% 8% Indus Rayon ... 29 29 29 28% Kayser Julius .. 28 27% 27% 28 New Bond Issues (By Lyons & Cos.) * Bid Ask Asso Tel 4s ’66 104% 104;, Atlanta Gas Lite 4%s ’55 ...: 99% 100% B & O ’39 97% 98% Blackstone Val G & E 4s 65.. 108V* Boston & Albany 4%s ’49 ....103V, 104 Brooklyn Man Tr 4%s ’66 100 Cal Ore Pwr 4s ’66 9y% 100% Cent Maine 4s ’6O 101% 102% Cent 111 3%S '66 105 105% C& O Rep and Imp 3%s ’96.. 99% 99% Chicago Sts 3%s ’63 104% 105 V, Cleve Tractor 5s ’45 102 105 Columbia Lwy P & L4s ’65.... 104% 105 Canadian Govt 3%s ’6l 100% 101 Conn River P& L 3%s ’6l ....103% 104 Consolidated Ed 3%s ’46 102*/* 102% Consolidated Ed 3%s ’56 99% 100% Consumer Power 3%s ’7O 103V* 103'% Cont Steel 4s ’46 . . 100 Cuhady Pkg 3%s ’55 100 100% Cuhady Pkg 4s 50 101 102 Dayton P & L 3%s ’6O 104’/* 105V* Duquesne Lite 3%s ’65 106% 106% Eastern Gas & Elec F4s ’56.. 91V* 91'/* Edison Ilium Bost 3%s ’56 105% 105% lowa South Util 5%s ’SO 101% 103 Jones & Laughiin 4%s ’6l 97*/* 97% Kansas P & L 4V2S '6l 107% 108 Keystone W & S 4s '45 100 Los Angeles G & E 4s '7O 104% 104% Maine Cent 4s '45 99% 100 Metro Ed 4s '65 106% 107V* Monon W P 4%s '6O 103*/* 103% Natl Dairy 3%s '6l 100'/* 100% N Y Edison 3%s ’6O 101 101V* N Y Cent 3%s ’46 96V, 96% Norway 4'/ 2 s ’56 99% 100% Norway 4%s ’65 94 94% Ohio Edison 4s '66 104% 104% Pacific Lite 4%s '45 105 106 Pacific G & E 3%s ’6l 102% 102% Pacific Tel 3%s '66 101% 101% Penn R R 3%s '7O 100'/* 100'/, Penn Tel 4s '65 105 106 Pub Serv N H 3%s ’6O 104'/* 104'/* Pub Serv Okla 4s '6O 102 V, 102V* Railway & Lite 4%s ’55 109 111 Reverse Copper 4%s ’56 103'/* 103'/, Saquenc.y Pwr 4%s '66 100 San Diego G& E 4s '65 108 Sharon Steel 4'/s 105V* 106 So Cal Gas 4s '65 103% 104 So Cal Ed 4s ’6O 107 107% So Cal Ed 3%s ’45 104% 105 So Western G & H 4s ’6O 101% 102V* A E Staley 4s ’46 103 Union Pac 3%s '7l 99% 99V* U S Pike & Fdy 3%s '66 103 103% Virginia Rwy 3%s '66 102% 102% West Penn 3%s '63 105V* 105% Misc G & E 3%s '66 101% 101% Youngstown Sheet & T 4s ’6l . 98% Ygstn Sheet & T Debt 3%s ’51.102V* 102'/, Unlisted Stocks (By Blyth Sa Cos.) NEW, YORK BANK STOCKS „ . * 4 Bid Ask Bankers Trust 551/* 57V* Central Transfer 104% 107 Chase 34% 36% Chemical National 52V, 54 Guaranty 275 278V* Irving 14% 16% Manufacturers 44% 46 National City 31% 33% Cont 111 Chicago 143 146% First National Boston 43% 45% National Shawmut 24% 26% FIRE INSURANCE Aetna Fire Ins 50% 52% American Ins of Newark 13% 15% Baltimore American 7% 91/. City of New York 24 26V* Federal Ins 44 431,. Franklin Fire 30 42 Great American Ins 27 % 29 V* Hanover Fire Ins 36'/, 38”, Hartford Fire 70 72% Home Ins 34% 36 . Ins Cos of A 70 72 v 4 National Fire ...•. 68 70% National Liberty 91/* loii* North River !! 25 27 Phoenix g 2% 85”, U S Fire 52 % 55 and Westchester Fire 33 353^ Westchester Fire 32 34% Investment Trusts (By Thomas D. Sheerin <fe Cos.) Administered Fund 2d $1?60 sl^6o Affiliated FTind Inc 1.67 1.87 American General Equities .. 97 99 American Business Shares... 107 117 “Bullock Fund Ltd 16.55 IS^OO Broad Street Investing 27.75 29.68 Century Shares Trust 25.18 27 07 Collateral Tr Shares “A” 6 15 6 21 Corp ’’A” or “Accum" (mod.) 3.12 316 Corp A' or ‘'ACO” (unmodt 2.51 2.55 Corp Trust Shares (origi .... 2.61 2.64 Diversified Tr Shares "8”... o!fio 970 Diversified Tr Shares “C’\. 420 424 Diversified Tr Shares ’’D”..'. 6.33 643 Dividend Shares Inc 1 55 166 General Investors Trust .... 5.50 604 Incorporated Investors 20,45 22.10 Investors Fund Amer [97 107 Market St Investment Corp.. 29 05 30 57 Maryland Fund 17.35 19.26 Massachusetts Investors 24 05 26 21 •Nation-Wide Sec Cos "8”... 400 Nation-Wide Voting 1 @2 1 78 North American Tr Shs 1955 3.13 316 North American Tr Shs 1956 3.09 312 North .Amer Tr Shs (orig).. 240 •Quarterly Income Shares .. 1.47 163 Selected Amer Shares Inc .. 144 157 Selected Amer Shares (orig) 3.39 Selected Cumulative Shares.. 3.84 894 Selected Income Shares .... 461 471 State Street Investment Corp 9L50 96 50 Super-Corp of America "AA” 2.65 268 Super-Corp of America ”BB” 2.69 2.72 •Super-Corp of America “A” 3.91 396 •Super-Corp of America “B” 4.09 414 Super-Corp of America “C”. 7.67 Supervised Shares Inc (Dela) 12.50 13 65 Trustee Stand Oilshares “A” 6.87 697 Trustee Stand Oilshares “B“ 6.09 619 Trustee Standard Tnvest ”C” 2.78 282 Trustee Standard Invest “D” 2.72 2T5 •United Standard Oilfunds .. 119 131 ?4 el ? s ' 17 55 •Uselps ‘B” 2.60 .... Useleps Voting

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 G irb Market New York Coffee & Sugar Exchange, Inc. 8 EAST MARKET STREET INDIANAPOLIS TELEPHONE, RILEY 5491 NEW YORK CHICAGO nOSTON. MASS. MONTREAL,, CANADA MICHMOND, TA. ANDERSON. IND. CLEVELAND. O. APPLETON, Rl*. BRISTOL, VA. ROANOKE, VA. CHARLOTTE, N\ C. DANVILLE, VA. STAUNTON. VA. NEWPORT NEWS. VA. NORFOLK. VA. KNOXVILLE. VENN. PETERSBURG. VA.

MORE ‘INSIDE’. TRADING SHOWN IN SECREPORT Pacific Western Oil Hikes Holdings of Mission Common. By United Prrsg WASHINGTON. May 1. —The Pacific Western Oil Corp. of Jersey City, N. J., increased its holdings in the common stock of the Mission Corp. by more than 50 per cent last month, a Securities and Exchange Commission report revealed today. A study of trading by “insiders” showed that the oil corporation acquired 111,166 shares of the security in a series of 16 transactions running from March 4 to 31. At the current New York Stock Exchange quotation, running around s2l a share, the additional holdings alone are worth more than $2,300,000. Pacific Western Oil now holds 320,798 shares of Mission Corp. stock, as of March 31. The last similar report issued by the SEC showed that the oil company had purchased only 1500 shares in February. G. M. Stock Is Sold Further study of the commission report disclosed the fact that John J. Raskob, prominent business man and member of the American Liberty League, had sold 1000 shares of General Motors copinon stock on March 26. General Motors sells for something over S6O a share. Seven officers of the automobile company received blocks of stock during March as “compensation.” These were, according to the report, A. C. Anderson, who received 77 shares: R. H. Grant, 731 shares; Ormund Hunt, 1339 shares; Meyer L. Prentis, 712 shares; Ernest W. Proctor, 692 shares; John L. Schumann Jr., 1083 shares; Alfred H. Swayne, 313 shares. The report also showed that J. Rosenwald, director of Sears, Roebuck & Cos., had sold 2165 shares of its valuable common stock in 10 different blocks. Frederick Lewisohn, officer and director of South American Gold and Platinum, was revealed to have sold 10,850 shares of its common during the last two months and Edward C. Westervelt, another director, disposed of 300 shares.

INVESTMENT FIRM HOLDS OPEN HOUSE T. P. Burke & Cos. Moves to Merchants Building. TANARUS, P. Burke & Cos., investment bankers, today held open house to greet customers and friends in their new offices on the second floor of the Merchants Bank Building. The new quarters of the company, formerly occupied by Sipe's Jewelry Cos., have been remodel to meet the requirements of an investment house. The offices were designed for the convenience of the public and the efficient operation of the company’s business. Various departments of the firm have been divided off in separate sections. In addition, there is a large reception and customers’ room, and a number of small consultation rooms. A mezzanine floor has been built to provide for the file, supply and mail departments. The T. P. Burke & Cos., besides conducting a general securities business, also maintains private wire connections with leading New York, Chicago and Indianapolis investment firms, and has branch offices in Fort Wayne, South Bend, and Terre Haute. New York Curb (By 'Atkins. Hamill Si Gates) Noon. Prev. N.Y. Close Aluminum Cos of America 120 122 Am Cyanamid “B” 32% 32% Am Gas & Electrio 35 34Vi Am General 8% 9 Am Superpower 2% 2% Ark Natural Gas “A” 6% 6% Atlas Corp 12>4 12% Carrier Corp 8% 8% Creole Petroleum Corp 27% 28 Crocker-Wheeler 9% 9% Electric Bond & Share 18% 18V* Fisk Rubber 5% 5% Ford Motors anada “A” .... 22 22 Glen Alden (1) 13% 13% Gulf Oil Corp of Penn 84 82 Humble Oil & Refining C 0.... 65% 65% Huyler’s of Del. pfd 21 % 24 Hygrade Food 4% 4 s * Mueller Brass Cos 26 25% Imperial Oil of Canada 21 21 Lake Shore Mines 63% 53% International Vitamin 7% 7'i Natl Bellas Hess Ins 1% 1% Niagara Hudson Pwr 8 7% Pan-American Airways 53 51 Pennroad Corp 4 4 Root Petroleum * 15U 15 St. Regis Paper Cos .3% 3% Salt Creek Producers Assn . .. 7% 7% Segal Lock 2% 2% Sonotonue 2% Standard Oil of Ohio 30 29% Stutz Motor Car of Am 3% 3% Technicolor Inc 27 27% Wayne Pump 27% 27% Money and Exchange INDIANAPOLIS STATEMENT Clearings : *2.845.000 Debits 6.493,000 TREASURY STATEMENT (By United Press) WASHINGTON. May I.—Government expenses and receipts for the current fiscal year to April 29, as compared with a year ago: This Year. Last Year. Expenses..* 5,944,737,691.37 $5,839,429,882.62 Receipts . 3,324.354,610.97 3.086.754.355.02 Deficit.... 2,620,383,080.40 2,752,675,477.60 Cash bal.. 2,456,170,010.74 1,953.041,840.86 Pub. deht 31,428,275,761.63 28.674,589.908.23 Gold res.. 10,221,264,797.46 8,706.711.295452 Customs.. 323,138,884.02 284.283.240.74

Electrical Sales Gain Sales of electrical wholesalers increased 20 per cent from $292,521,464. in 1954 to $346,102,907 in 1955, according to Electrical Wholesaling’s special issue for May.

New Business Books Available at Library The following new business books are now available at the business branch of the Indianapolis Public Library: MONEY: THE PRINCIPLES OF MONEY AND THEIR EXEMPLIFICATION IN OUTSTANDING CHAPTERS OF HISTORY, by E. W. Kemmerer. This volume will be followed by one on banking. INTERVIEW AIDS AND TRADE QUESTIONS FOR EMPLOYMENT OFFICES, by L. A. Thompson Jr. and other*. “Interviewing and classifying applicants who ehiblt a bewildering variety of skill and experience. places a heavy burden on the staff of any large employment office.” TECHNIQUK of advertising LAYOUTS, by F. H. Tounr. Includes reproductions of actual layouts designed for important advertising. MANAGING THE PEOPLE’S MONEY, by Joseph E. Goodbar. An analysis of banking policies and banking control and their relation to economic stability. A MANUAL FOR HISTORY MUSEUMS, by A. C. Parker. A guide to the organization and administration of historical museums.

HOG PRICES UP 10 TO2OCENTS Cattle, Vealers Unchanged; Lambs Are Weak to Unevenly Lower. New strength developed in the pork market today at the Indianapolis Union Stockyards and as a result prices were generaly 10 to 20 cents higher than yesterday’s best average. With the market active, the moderate upturn extended to practically‘all divisions. A slight increase in the total number of shipments failed, however, to have any depressing effect on the price situation Todays’ supply was estimated at 4500. compared with 3500 on hand yesterday. Holdovers numbered 217. The general bulk of choice kinds, weighing 160 to 225 pounds, sold at $10.65 to $10.75. Medium weights from 225 to 250 pounds cashed in at $10.55 to $10.60. Extreme heavies from 300 pounds and upward brought $9.95 to $10.15. Light pigs weighing 130 to 160 pounds, sold at $lO to $10.50. Trading was slow in the cattle market and prices steady, especially on all slaughter classes. Bulk of steers ranged from $6.50 to $7.65, while heifers brought $7 to SB. Good cows were absent. Receipts numbered 400. Vealers also were stationary, with the bulk of good and choice selling at $9 to $lO. Receipts were 300. Lambs were slow despite a small supply, and indications were weak to unevenly lower. Only a few desireable clipped lambs were available. Small lot of clipped natives brought $lO. Receipts were 500. HOGS April. Bulk. Top. Receipts. 25. ♦[email protected] sll.lO 1000 27. 10.90ft0U.00 11.00 5000 28. 10.55 0410.65 10.65 6000 29. 10.55(0)10.65 10.55 3500 30. [email protected] 10.55 3500 May I 1. [email protected] 10.75 4500 Light lights. (140-160) Good and [email protected] Medium 9.55® 30.20 (160-180) Good and choice.. 10.60@ 10.75 Medium 10.10® 10.60 . (180-200) Good and choice.. 10.85@ 10 75 Medium 10.10® 10.65 (200-220) Good and choice.. 10.65® 10.75 (220-250) Good and choice.. 10.55® 10.65 Heavyweights. 1250-2901 Good and choice.. 10.25® 10 55 . (290-350) Good and choice. 10.05® 10.25 Packing Sows. • (275-350) Gd 9.10® 9.50 (350-4251 Good 8.90® 9.25 (425-450) Good 8.65® 9.00 (275-350) Medium 8.40® 910 Slaughter Pigs. (100-140) Good and choice.. 9.25® 10.20 Medium 8.40® 9.75 CATTLE —Receipts, 400— (550-900) Choice $ 8.50® 975 Good 7.25® 9.00 Medium 6.75® 8.00 Common 5.50® 6 75 (900-1100) Choice 9 25® 975 Good B.oo® 9.25 Medium 6.75® 8.00 Common 5.75@ 7.00 (1100-1300) Choice 7.75® 925 Good 7.75® 9.25 Medium 7.00(a) 8.00 (1300-1500) Choice 8.25® 975 Good 7.75® 9.25 Heifer* (500-750) Choice 7.75® 840 Good 7.00® 7.75 Common and medium 5.75® 7.25 (150-190) Good and choice ... 7.25® 8.40 Cow* Good 6.00® 6.50 Common and medium 5.00® 6.00 Low cutter and cutter 3.75® 5.00 Bulls, good 6.25® 6.75 Cutter, com and med bulk.... 5.75® 6.50 VEALERS —Receipts, 300— Good and choice [email protected] Medium 7.50® 9.00 Cull and common 5.00® 7.50 Calve* (250-500) Good and choice .. 6.00® 900 Common and medium 4.50® 8.00 Feed and Stocker Cattle (500-800) Good and choice... 7.00® 725 Common and medium 5.50® 7.25 (800-1050) Good and choice... 7.00® 835 Common and medium 5.50® 7.25 Cow* Good 4.75* 5 25 Common and medium 4:50® 4.75 SHEEP AND LAMBS —Receipts. 500— Lambs, 90 lbs. down; good and choice $10.15® 10.50 Good 9.7501025 Medium 8.75® 9.75 Common 7.25® 8.75 Ewes <9O-170) Good and choice... 4.50® 5.00 Common and medium S.so® 4.50 (Sheep and lamb quotations on clipped basis.) LOCAL CASH MARKET City grain elevators are paying 92 cent* for No. 2 toft wheat. Otner grades on their merits. Cash corn new No. 3 yellow 53 cents and oats 18 cents.

OTTO MEYER, President F. S. KIRKWOOD, See’y-Treas. OTTO MEYER AND COMPANY, INC ANNOUNCES OPENING of its offices for the purpose of rendering a complete property management, insurance, investment, financing and refinancing service in Indianapolis. We are prepared to furnish. MORTGAGE LOANS AT LOW COST for BUILDING BUYING REFINANCING LOANS are solicited on modem residences, apartments and centrally located business property. Our management with years of experience vill gladly assist you with your financing. 1207 8 FLETCHER TRUST BUILDING Telephone Lincoln 4934 * J MORTGAGE LOAN CORRESPONDENT FOR THE LINCOLN NATIONAL LIFE INSURANCE COMPANY 1 FORT WAYNE, IND, J

REAL INCOME RECORDS GAIN DURIN6MARCH Average Citizen Enjoys 3.4 Per Cent Increase, Study Shows. rime* Special MINNEAPOLIS, May I.—The average American had 34 per cent more real Income during March than a month earlier, the current consumers’ study compiled by Investors Syndicate showed today. The increase was due, the survey . says, to the fact that wages and. salaries increased, while food and clothing prices declined. “Real income on April 1 was 4 4 per cent higher than the same day a year ago, despite a steady rise irJ housing costs and a trifling inf crease in food quotations and eral expenditures. “This gain in real income—that is, the differences between actual earnings and living costs—that tooje place between March 1 and April i, reflects increases of 4.8 per cent in ‘wages and 3.1 per cent in salaries, and declines of 1.6 per cent in food and three-tenths of 1 per cent in clothing prices during the period. Meanwhile, housing costs continued their rise, being up seven-tenths ct 1 per cent- during the period.” ARMY TRUCKS ORDERED Times Special DETROIT, May 1. —The Federal Motor Truck Cos. has been notified by the War Department of anothei order for Army motor trucks, total, ing 278 units to be built at a cost of approximately $350,060. On Commission Row (Quotation below subject, to change ar< average wholesale prices being offered t buyers by local commission dealers.) FRUlT—Strawberries: Louisiana. 24-pt, crate. *3.25: Alabama. 24-ql crate. *5.25, Limes —Mexican, carton, 20c. Bananas, seven hands, pound. sc. Apples—Deliclou* (fancy baskets). $2.50. Rome Beauty. $1.60. Lemons—Sunkist <3oos). *6.25. Grapefrud Imperial Valley, $.1.50. Pineapples—Cuban* <lßs-30s). crate, S4. Grapes—S. America, 20-_lb. box, $3; Honey Dews, S. America, VEGETABLES Beans, green, round tringless i hampers). S3. Beets—Texai. 13 doz. crate), *1.65; cut ofts ibu.), *l. Cabbage—New Texas (crate), $2.50; half crate. $1.50. Carrots—California (6-doz. crate), $2.85: Texas (doz. crate). 60c. Cauliflower. California (12s crate), $1.85: Celery Florida washed and trimmed (doz.), 45®85c: Florida (4s, Bs. 10s cratei. *3.25. Cucumber—Hothouse idoz), 81.25; two doz box), *2.25. Egg plant—Florid* ;?%*• - sl - 75 - Kale —(Virginia bushel*. - 10 - Lettuee--Iceberg. Arizona (best 6s. ss>. *4.25: home grown leaf (15-lb. basket). *1 25. Sndive—California (doz.i. 75c. Peppers—Mangoes (crate). *3.50; peck basket, 90c; doz.. 30c. Mint—Hothouse (doz.t. 60c, Mushrooms—Pound. 30c. Mustard—Texas, half crate, $1.40. Onions—lndiana yelldw (50-lb. bag), 60c; new Texas Bermuda yellow. 50-lb. bag, *1.35. Parsley—Southern (long bunches, doz.), 35c. Parsnips— Home-grown washed, bushel, 90c:' half, bushel, 50c. Peas—Florida, hamper, $2, „ Potatoes—Michigan Round Whites, 100-rb, * 2 -20: Michigan Katahain. 100-lb. bag, $2.35; R. R. Early Ohio, 100-lb. bag, $2.25; R. R. Triumph. 100-lb. bag. *1.75; Idaho Russets, 100-lb. bag. *2.65: Idaho Bak'et* 70s box. $2.50; New Texas Triumphs..so-lb. 82 v ® wee t potatoes—Tennessee Nancy Halls, hampers. *1.50. Radishes—Homegrown buttons, doz.. 60c; white. 50c. Rbubunch. 50c. Rutabagas— Northern 50-lb. bag. *1.25. Sage-Do*., 45c. Shellots-8-Louisiana. doz.. 35c. Tur* nips—New. bulk Texas, bu„ *1.25. Toma* toes—Repacked. 10-lb. box, $1.35; Florida, ong. (6-6), lug., *3.50. ; FRUITS AND VEGETABLES (By United Press) . CHIc AGO. May 1 —Apples. Mclntosk 81 ' @ '* 1 - 23 - Carrots. Illinois, bu.. 25c® s?®* Sweet Potatoes, Tennessee, bu.. $1 14 @1.20. Beans, Louisiana, bu., *2@3. Cab* bage, Texas. *1.75 @2.15. Lettuce, Wes? rJkrJI* teS u 8 J 302 ' * 2 5 °®3.25. Pea*. California, bu. hampers, *[email protected], Spinach. Arkansas. bu . [email protected]. Tomatoei. Mexican, lugs. *[email protected]. Cauliflower! California, crates. *1.25® 1.40. Celery cr £ l,>s ' *[email protected] Onion marked vehnw, : t l i l . noi * yellows. Michigan t n l, lno,3na yellows. 35@50e: 90c@Sl ,ellow *’ 65c: Texas white wa* Other Livestock (Bv United Press) . CHICAGO. Mav I.—Hogs—Receipts. 700 b. including 2500 directs - generally stead* with Thursday’s average: 'nstans w?2x to shade lower: too $10.60; bulk 150-2&0 in'Vn 250-300 lbs.. *9.80@ 10.30: 300-350 lbs.. $9.65(a 9.80: sows. *8.90@ 9.25: smooth light weights. *9.35. Cattle—ft, ec ,eiPts. 1000: calves. 500: small suddlv of killing classes about steady, verv little beef in run. steers on sale mostiv kind downward from $8.25: heifers largely $b.50®7.25 in small lots: beef cows ud its 56.75: bulk *5.50'-/6.25; little change tn weighty sausage kinds at *6.40: vealeFa steady, mostiv $9 down. Sheep—Receipts. 3000: fat lambs scarce in narrow demand, mostly steady: other classes weak: several loads choice wooled lambs. $11.75® 12.10; strictly choice Colorado* going at outside price: clippers averaging 103 lbs.. $9.90; few medium to good spring lambs. $11; best wooled ewes. *6.25. FORT WAYNE. Ind.. Mav 1 - Hogs— Steadv: 160-180 lbs.. *lO 55: 180-200 lbs., *10.45 : 200-225 lbs.. *10.35: 225-250 lbs„ *10.25; 250-275 lbs.. *10.05: 275-300 lb*„ *9.95 : 300-350 lbs.. 59.70: 140-160 lbs.. *10.15: 120-140 lbs . *10: 10-120 lbs.. *9 75. Roughs. *8 50;. stags. *6.75: calves. *9.50; lambs. *11.50 LAFAYETTE, Ind.. Mav I.—Hogs, market. 15®20c higher; 170-210 lbs.. *lO 50 e 10.60; 210-235 lbs.. *[email protected]; 235260 lbs.. [email protected]; 260-325 lbs.. *9 90 ® 10.10; 140-170 lbs.. *lo® 10.25; 100-140 lbs.. *9.25® 9.75; roughs. $9 down. Calve*. *9 down. Wool lambs. *10.50 down: clipped lambs. $9; spring lambs. sl2 down. (Bv Times Special) LOUISVILLE. Mav I.—Cattle—Reeeiot* 175; demand narrow for light salable sub* plv most slaughter cattle: market auotahje barely steadv: most steers and heifer* considered salable *7® 7.75: strietlv good light weights considered eligible to around *8.25: common killers down to $6.50: bulk beef cows. *s@6: good kinds ouotable to around *6.56: most low cutters and cutters. *3.75®4.75: sausage bulls considered salable mostiv 85 50®6.25: light beev type stoclSsrs and otock calves. [email protected], Calves—Receiots. 650. including 275 stock calves: market generallv steadv: bulk good to choice grades. *[email protected]: strietlv choice. *9: medium and lower grades. *7 down to around *4. Hogs—Receipts. 600: market 5c higher: ton and bulk better 160-225 lbs.. *10.35: 230-250 lbs.. *lO 05: 255-3CO lbs.. *9.50: 305 lb*, up. *9.05: 120155 193.. *9.50: sows. *8.15 Sheep—Receipts 75: market generally steadv en slaughter sheep and lambs: medium to good old crop wooled lamb* *8 50® 9: choice eligible higher: plainer grades. *C<9 7.50: bulk fat wooled ewes *4.50 down: better spring lambs Thursdav. *ll® 12.