Indianapolis Times, Volume 48, Number 46, Indianapolis, Marion County, 4 May 1936 — Page 9

I Trends n Confusions of New Tax Rill Are Cited. BY JOHN T. FLYNN YORK, May 4.—The new tax bill which the Senate is considering is difficult tc comment on. First, it is a bill of 249 pages. Secondly, the words which the authors of the bill have chosen to express their meaning make up the most obscure, indecipherable collection of sentences I have ever read in a statute. I have spent many years reading tax bills and financial legislation.

Os course some allowance must be made for the fact that modem taxes are a coin pll c a ted subject and that It is not possible to write them ts clearly as problems in simple a r i thmetic. But this bill surpasses all the legislation I have ever encountered tn its obscurity. It will take the courts and the Board

-mm*

Flynn

of Tax Appeals a generation to find out what it means and disentangle its canfusions if it is passed. One of the strange subjects in it is something more or less new in national lax legislation. As readers already know, all corporate taxes are abolished, except a tax on undistributed surplus. But in this bill certain exemptions, or rather partial exemptions, are made in favor of corporations which are heavily laden with debt. a a a IF you own a home in your com- -*■ munity, it makes no difference how much debt you have, your real estate taxes are not affected. The city and state do not make any deduction in taxes in favor of the debt-ridden home-owner. If you are in business for yourself and owe a great deal of money the profits of your business are subject to income taxes just the same. But in this new bill a strange paternal gentleness is shown for corporations which have h:',avy debts. This, of course, includes cdimtless corporations foolishly, extravagantly, recklessly managed. Such corporations will actually be given a preference over wisely and intelligently managed concerns. Let us see how this works. Take a corporation which has net earnings of $1,000,000. Suppose it distributes nothing in dividends. It will be subject to a tax on the undlstriuuted earnings of $425,000. New suppose another corporation is in debt. It, too, makes $1,000,000 in net earnings. But this corpoiation owes has accumulated earnings of sl,000,000. a a a THERE is gn excess of debts over surplus of $4,000,000. The corporation now annonuces that it proposes to amortize this debt of $5,000,000 in five years. To arrive al the tax it is to pay, you divide ihe excess of debts over surplus, which is $4,000,000, by the number of years for amortization, which is five. This gives you SBOO,OOO a year. On this the corporation will pay 22 % per cent instead of 42.5 per cent. That makes SIBO,OOO. On the remaining $200,000 (the difference between SBOO,OOO and the net income of $1,000,000* the tax will be the same as for other corporations. This would be 42.5 per cent or $85,000. Therefore r corporation with debts like the one described aabove would pay only $265,000 in taxes while one without such debts would pay $425,000. This really amounts to the government giving to corporations with big debts a tax subsidy. In this case the tax subsidy would be $160,000. This is surely a strange provision. On Commission Row 'Quottton below subject, to change are •'erage wholesale prices being offered to buyers by local commission dealers.! FRUlT—Strawberries: Louisiana. 24-pt. crate. $3.75: Alabama. 34-qt. crate. <5.35. Ltmes—Mexican, carton. 20c. Bananas seven hands, pound. s'e. Apples—Delirious (fancy baskets i. *2.st>. Rome Beauty, *1.40 Lemons —Sunkist (300s i. *5 50. Grarefrv.lt —Imperial Vailey, $3.50 Pineapples—Cubans (18s-30s>. crate. $3.50 Grapes 8. America 20-lh. box. *2 75; H ney Dews. S. America. $3.25. VEGETABLES—Beans. green round atnnsless ihampers!. $2.25. Beets—Texas i*3 Joz cratei. $1.65; cut offs tbu.). *l. Cabbage—New Texas tcratel, *2.50; half crate. *1.50. Carrots—California (6-doz. cratei. *2.85: Texas (doz. cratei. 60c. Cauliflower, California (12s cratei; *1.75. Celery—Florida washed and trimmed (do* ), 454185 c: Florida (4s. Bs. 10s crate*. *3.50. Cucumbers- Hothouse Ido*.*. *1.15 • two do* box], *2. Egg plant—Florida (do*.), *1.75. Kale—(Virginia busheli. *1 25 Lettuce—lceberg. Arizona (best 6s. ss. *3.75; home grown leaf (15-lb. basket). *1.25. Peppers Mangoes (cratei. *3: peck basket, 90c do*.. 30c. Mint—Hothouse ido*.i, 60c. Mushrooms--Pound. 30c. Mustard—Texas.half crate. *1.40. Onions —lndiana yellow 150-lb. bag*. 60c; new Texas Bermuda yellow. 50-lb bag, *1.35. Parsley- -Southern dong bunches. do*.i, 35c. Parsnips Home-grown washed, bushel. 90c: half-bushel. 50c. Peas — Florida hamper. *1.85 Potatoes—Michigan Round Whites. 100-lb. bag. *2.25; R R Early Ohio. 100-lb. bag. *2 35: R R. Triumph. 100-lb. bag. *1.75: Idaho Russets. 100-lb. bag. *2 65; Idaho makers 70s box *2 50 New Alabama Triumphs 100-lb. bag *3 25. Sweet potatoes—Tennaesee Nancv Halls. hampers. *1.50. Radishes—Homegrown buttons, doz. 45c; white. 50c. Rhubarb—Hothouse, bunch. SOc Rutabagas—Northern 50-lb. bag. *1.50. Sage—Do*.. 45c Shellots—Louisiana dor 35c. Turnips—New bulk Texas, bn.. *1.25. Tomatoes—Repacked. 10-lb box. *1.50; Florida, orig. i6-6>, lug., *3.56. Produce Markets The prices quoted are paid for stock lathered In the country, while delivered In Indianapolis the price Is a cent higher Heavy breed hens. 17c; Leghorn breed hens. 14c; old cocks. 9c; ducks, white, 5 lbs. and ever. 7c; geese full feather, all elzes. Sc; all guineas 1% lbs. and un. 15c; No. 1 strictly fresh eggs loss off. 17c; delivered In Indianapolis, 18c. F.ach full case must weigh 5$ lbs. cross; a deduction of 10 cents a pound under 55 lbs. will be made. No. 1 butter. 30%O31!?c; No. 2, J7%M</iC. Butterfat. 36c. (Bv United Press) CHICAOO Mav 24.—Bits—Market, firm; lecetpts. 21.713 eases: fresh graded firsts, 33%c; extra firsts. 21c; eurrent receipts. 19%e: dirties. 18%c: checks. 18%c. Butter - Market, unsettled: receipts. 11.836 tubs; extras <93 score*. 28%c: extra firsts >9O- - seorei. 26c. firsts (88-86% scorei. 35% *J 2S*c; specials, 37@27%c: standards. 2*'c Poultry—Market, steady, receipts. 1 car. 10 trucks; ducks 13e*17c. geese 10 Vl2c: spring chickens. 25627 c: hens. 17@ 20 ! tc. turkey*. 30i22c. capons. 25628 c; Leghorn*. 15619 c: old roosters. 14' jc; broiler*. 4@25c; fryers. 246 25c. Cheese— Twins 18Va91SS.tr: Daisies. 14ti 14. e: Longhorn. lfU4Ue. Potatoes—Supply, moderate demand slow: market about

♦ ♦ Abreast of The Times on Finance ♦ ♦

STOCKS STAGE STEADY PICKUP, i CLOSE HU . I General Motors Common Is Leader; Other Auto Shares Follow. BY ELMER C. WALZER United Pres* Financial Editor NEW YORK, May 4.—Stocks dropped fractions to more than 2 points on the French election swing to the left and then set off on a slow, steady rally that left the list above the previous close in nearly all sections. General Motors Corp. common stock led in activity and recovered more than 2 points from its low. That inspired buying in other automobile shares which scored net gains of fractions to a point after early losses ranging to 2 points. Directors of the corporation were to meet for dividend action after the close and Wall Street anticipated a generous payment. Best net gains were scored by the rubber shares, which responded to a rise in tire prices of 5% to 13 per cent by leading makers. U. S. Rubber preferred jumped more than 3 points and gains of 1 to 2 points were noted in Goodrich, Goodyear and U. S. Rubber common. International Nickel recovered 2 points from its low—a new low for the year—when directors raised the devidend to 30 cents a share, against 25 cents in the previous quarter and 15 cents in the corresponding quarter of 1935. Money and Exchange INDIANAPOLIS STATEMENT Clearings $2.948 000 Debits 6,443,000 TREASURY STATEMENT (By United Press) WASHINGTON. May 4.—Government expenses and receipts for the current fiscal year to May 1, as compared with a year ago; This Year Last Year Expenses $6,017,524,196.20 5.889.142,872.78 Receipts. 3,361,694,814.37 3,096,057.499.36 Leficit 2.655.829.381.83 2,793,085,373.42 Csh. bal.. 2,529.402,665.30 1.800,676,35R.21 Pub. dbts 31,422.489,999.13 28,635.442.752.48 Gold Res. 10,231.266.559.12 8.720.778,787.02 Customs.. 325,944.858.15 185,757,408.13 FOREIGN EXCHANGE (By Abbot, Proctor & Paine) Prev. Par Country Close. $8.2397 England |.75% $4.94V* .0633 France 0658% .0658% .0891 Italy 0789 .0787 ! 2 .1695 Belgium 1696 .1692 .4033 Germany 4025 .4021 .3267 Switzerland 3252 .3254 Vi .6806 Holland 6780 .6787 .3267 Spain 1364' 2 .1363 1 a .4537 Norway 2493 .2483 .4537 Sweden 2558 .2548 .4537 Denmark 2215 .2206 1.6931 Canada 1.00 .9987 Chicago Stocks (By Atkins, Hamill St Gates) Prev. Close. Close. Advance Aluminum 7% 7 Asbestos Mfg 4'a 4Vi Associated Investors 35 35Vs Bastian-Blessing 9% Berghoff 11 10%' Butler Brothers . 8% S'/s Cent 111 Pub Service pfd 58’a Chicago Yellow Cab 27 27 Cities Service 4** 4% Continental Steel 33% 35 Cord 8% 5 Crane 24% ... Dayton Rubber 12 Electric Household 15% 15% General Household 6% 6’* Cjodchaux Sugar "A" 33 34 Godchaux Sugar "B” 16% . Grl Lakes Dredge 28 27% Jarvis Mfg 20V* Ken-Rad T & L 10% 10Vi Libby McNeil St Libby 7% Lincoln Printing 11 10',* McGray Electric 28% 28 Northwestern Engineering . 21 20 3 * Public Service of Northern 111' 50 Swift International 29'i ... Zenith 17 16% New York Curb (By Atkins. Hamill & Gates) Prev. Close. Close. Aluminum Cos of America -... 115 3 120 Am Cyanamid "B” 34 33V* Am Gas <k Electric 34% 34 1 * Am General B>2 8% Am Superpower 2 2 Ark Natural Gas “A" 6 6'* Atlas Corp 12 12 3 * Canadian Indust Alcohol “A” 8 8 Carrier Corp 1 8 3 * 8% Creole Petroleum Oorp 27 27' Crocker-Wheeler 9% 9 7 * Elec Bond St Share 17 7 * 17 s * Fisk Rubber 5'2 s'* Ford Motors Canada “A" .... 23% 22 7 Glen Alden ill 14 13'* Gulf Oil Corp of Penn 84 3 * ... Humble Oil St Refining Cos 62'2 . Huyler's of Del pfd 21 20% Hygrade Food 4'2 4 s * Irit Vil amin 7' 2 ... Imperial Oil of Canada .22 21 Irving Air Chute 22 Lake Shore Mines 54% 54% Molybdenum Corp of Amer ... 8 8% Natl Bellas Tess Inc 2 l 7 * Mueller Brass Cos 25% 26' 2 Niagara Hudson Pwr 8 8 Pennroad Corp V* 4 Root Petroleum .•••■ 15'* 15 St Regis Paper Cos 3 s * 3V Segal Lock 2 3 * 2 3 * Sonotone 2 3 2 3 4 Standard Oil of Ohio 30 Stutz Motor Car ol Amer .... 33% Technicolor Inc 27 27'4 Tubize Chatillon Coro 6% . Wayne Pump 28 28 Daily Price Index (By United Press) NEW YORK. May 4. —Dun and Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average 100: TODAY. 118 91 Saturday 119.27|Year ago 121.16 Week ago .... 11.99 1936 high 12 40 Month ago . 119.76! 1936 low . ... 119.36 (Copyright. 1936, by Standard Statistics) Commodity Prices (By Abbott. Proctor St Paine) COTTON NEW YORK Prev. High. Low Close, close. Mav 11 55 11.50 11.52 11.52 Julv 11.08 11.03 11 03 11.05 October 10 17 10.13 10.15 10.19 December 10.19 10.15 10.15 10 21 January 10.21 10 18 10 18 10.24 March 10 25 10 21 10 23 10 30 Spot, up 1: middlings. 11.62. NEW ORLEANS Prev. High. Low. Close, close. Mav '1.47 11 39 11.41 11.45 July 11.00 10 96 10 97 10,99 October 10.14 10.09 10.12 in.l6 December 10.14 10 11 10.13 10 16 January 10. IS 10.15 10.15 10.18 March 10 19 10.19 10.19 10.30 NEW YORK COTTONSEED OIL Prev. High. Low. Close, close. Mav 9 05 9 05 9 05 9 07 July >’.lo 9.10 9.10 9.13 September 9.11 902 9.03 9.10 SUGAR Prev. High. Low Close, close. September ....... 2.83 7.83 2.83 280 BITTER Prev. . Close, clote. November 26 7 . ,'2IT EGGS Prev. Close, close. October 23’* .22’* May .22 MERGER IS STUDIED PITTSBURGH. May 4—Stockholders of the Allegheny Steel Cos. are to meet on May 20 to consider the proposed merger of the concern with the West Leechburg Steel Cos., officials revealed today. BEMIS LETTER SERVICE 303 Merchants Bank Bldg. j Lincoln 6122

New York Stocks

Dow-Jones preliminary closing averages showed industrials 146.96. up 55; railroads 43.52, up .13; utilities 28.95, off .01. Volume approximated 1,070,000 shares, compared with 1,160,000share* Friday. Curb sales were 231,000 shares, compared with 268,000 shares Friday. (By Thomson & McKinnoni Prev. Oils— High. Low. Close, close. Amerada 98 97 V 2 98 98 Atl Rfg 28 s . 28 ’28 s , 89 Barnsdall 17 16% 16% 16% Consoi Oil 12’. m* 12V. 12** Cont of Del 32‘* 31 32V* 31% Houston (new) .. 8% 8 B s * SU Mid Cont Pet .. 20 19\ 20 19 s * Ohio Oil 13), 12- * 13 13V. Corp 13'4 13 *4 13% 13 ,4 Phillips Pet 42 40', 2 42 42 Plymouth Oil .. 13’* 13% 13 7 13% Pure Oil 19'* 17 7 19V* 18-, Shell Un ...; 15% 15 15% 15% Skeliey Oil 24 24 24 24% Soc Vac 13 '2 13 13' a 13% SO of Ca 1.3 3 7, 37 37% 37% SO of Ind 35% 34 34% 35 SOof N J 59 57% 58 58% Texas Corp 34% 33 s * 33% 33% Tidewater Assn 16% 16 16% 16% Un Oil of Cal .. 23% 22% 23% 22% Steels— Am Roll Mills... 27% 26% 27'% 28% Beth Steel 50 47% 43% 49% Dyers A M 17% 16% 17% 16% Inland Steel .... 93 92 92 93% Ludlum Steel ... 24% 23 5 , 24% 24% Mid Steel 36 33% 36 35V* Natl Steel 60 59 59% 59% Otis Steel 14% 13% 14% 14% Rep Iron & Steel 18% 17% 18% 18% Rep Ir St St pfd 78 78 78 80 U S Pipe it Fdy 33% 32 32% 33V* U S Steel . . 56% 54 55% 56V* U S Steel pfd ...122), 121 121 122% Warren Bros .. 8% 8% B'% B'/* Youngs’n S& T 52% 49 52% 51 Motors— Auburn 34 32% 33% 34 Chrysler 96% 93 95% 95 Gen Motors 627, 60 62% 61V* Graham Mot ... 2%' 2% 2% 2% Hudson 14% 13% 14% 14% Mack Truck 30 29% 30 29% Nash 17% 17V* 17% 17% Packard 9% 9% 9% 9% Reo 5% 5% 5% 5% Studebaker .... 11 % 10% 11% 11 Yellow Truck.i.. 18 17 177* 1744 Motor Access— Bendix 27% 26% 27% 27'/* Bohn Alum 47% 47% 47)* 47 % Borg Warner ... 70 68% 70 70 Briggs 46 44% 46 48 Vi Budd Mfg 15% 13% 15% 14% Budd Wheel 9% 9 9% 9% Eaton Mfg ...37% 30% 32% 31 Elec Auto Lite . 34% 32% 34 33 Elec Stor Bat .. 46 45% 46 4474 Greyhound B’.. 53 52% 53 52% Houdaille 23% 22% 23% 23)4 Murray Body ... 15% 14% 15% 15% Stew Warner ... 18% 17% 16% 18 Timken Roll 58% 57% 58% 59 Timken Det Axle 15 14% 15 15% Mining— Alaska aun 14 7 * 14% 14% 15 Am Metals 28% 28 23 27% Am Smelt 73%z 30%* 32%z 33% Anacando 37% 30% 32% 33Va Cal & Hecla ... 10% 10% 10% 10% Cerro De Pasco . 53% 53 53% 53% Dome Mines 54 53% 53% 53% Gt Nor Ore .... 16% 16 16% 16% Howe Sound 50% 50 50 50V* Ins Copper 10% 9% 10 10'* Int Nickei 45% 43% 45% 45% Isl Creek Coal 27 27 27 27 Kennencott Cop 35% 34 % 35 35.% Mclntvre Mine . 44 43 43 44% Park Utah 3% 3% 3Vi 3% Phelps Dodge .. 33 32% 23 33% St Joe Lead ... 23 23 23 23 U S Smelters ... 90Vi 89 89 90 Vanadium 18% 17% 18% 18% Amusements— Croslev Radio .. 26 24% 26 25 Fox Theat 23% 23 23 Vi 23% Loews Inc 46 45 % 46 45% Radio Corn .... 10% 9% 10% 10% Paramount Bs*8 s * 8% 8% 8% R K O 57, 5% 5% 5% Warner Bros ... 10 974 9% 9% Tobaccos— Am Sum Tob ... 22% 22% 22% 22 Am Tob "B" 91 89 % 91 90 Ligg & Mys 181 101% 100% 101% 101% Lorillard 22% 22% 22% 22% Philip Moris . 82% 82 82 81V* Reynolds T (B) 51% 51 51 Vi 51% Rails— Atchison ...... 71% 69 71 70 Atl Coast Lines.. 23Vi- 22% 23% B & O 16% 16 16% 16% Can Pacific .... 11% 11% 11% 11% Ch & Ohio .. 55 55% 55% 55 Chi & Gs W 1% 1% 1% 1% Chi St Gt W pfd 5% 5 5% 5 C M & St P pfd 3% 3% 3% 3% Chicago N W 33 33 Chi N W pfd ... 7V, 7% 7% 7% Dela St Hud ... 39% 37% 39% 37% Del Lac & W 16% 15 15% 15% Erie 12 12 12 11% Erie pfd 17% 17% 17% 17% Gt Northern pfd 35% -33% 35 35 111 Central 20 18% 19% 19% K C Sou ...... 18% 18 IS 7 * 18 s * Lehigh Valley .. 9% 9 3% 9V4 M K & T ... 7% 7% 7% 7% MK & T pfd... 20Vi 19% 19% 19% Mo Pac 2% 2 s * 2% 2% Mo Pac pfd 4% 4% 4% 4% N Y Cent 33% '3l 33% 33% N Y New Haven 3% 3% 3Vi 3Va N Y Ont & West 4Ti 4% 4Vi 4% Norfolk St. West 225 225 225 225 Nor Pacific 27% 26V* 27>/a 27% Penn R R 29% 28% 2974 29% Sou Pac 30% 28% 30 1 /* ~ 29% Sou R R 14Vi 13% 14Vi 14 Union Pac 120% 120% 120 Vi 123 Vi West Maryland.. 8% 8% 3% B s * Equipments— Am Brake Shoe. 42% 42% 42% 41% Am Car & Fdy. 32 31 32 31% Am Loco 25 24 25 24 Am Steel Fdy.. 23 22 23 23V* Bald Loco .. 3% 3% 3% 3% Gen Am Tk Car 44 43 44 43% Gen Elcc . . 36% 35V, 36Vi 36 Gen R R Sig.. 35% 34% 35% 36% Pullman Inc ... 41 40% 41 41% West Air Br ... 37% 36 37% 37 WcstinghE 1ec.106% 102% 106% 104% Utilities— Am St For Pwr. 7 6% 7 6% Am Pwr St Lit.. 9% 9% 9% 9% AT&T 153 149% 152% 151% Am Wat Wks . 20% i9% 20% 20% Col Gas St Elec 17% 16% 17% 17% Comm St Sou... 2% 2% 2% 2% Consol Gas . ... 29 28% 28% 29% Elec Pwr & Lit 14% 13% 13 s * 13% Int Hydro Elec.. 2 7 , 2% 2% 2% Interboro RT .. 12% 12% 12% 11% Int T & T 13% 12% 13% 12% lou G<t E "A" 20% 20 20 20% Nat Pwr & Lit.. 10 9% 9% 9% North Amer 24% 23% 24% 23% Par GSt E . . . 34 33% .34 33% Peoples Gas ... 38% 38% 38% 39% Pub Serv N J... 39% 39 39% 39% So Cal Edison.. 25% 25 25 24% Std Gas 5% 5%. 5% 5% Stone <fc Webster 16 s * 15% 16% 16% United Corp ... 5% 5\ 5% 5% Un Gas Imp ... 15 14% 14% 13% Ut Pwr & Lt A . 4 s * 4% 4% 4% Western Union.. 75% 72% 75% 76 Rubbers— Firestone 28% 27% 28% 28 Goodrich 20 V* 18 20 18% Goodyear 26 23% 25% 24% U S Rubber . . 30% 27 30 38% U S Rubber pfd. 70% 65% .TO 3 * ... Miscellaneous— Allis Chalmers . 42 40% 41% 41% Amer Can . . 125% 124% 125)* 125% Am Mach & Fdv 22 21% 22 22% Anchor Cap . 20% 19% 19% 21 Brklyn Man Tr . 46% 46% 46% 46%

E?f©3S3 r 5 r.wi nuewsrwi , Y ;JL ZICN-IRYCi v? >7] NUttO CANYON gy, and CAIIFOANIA ¥ti\ l COIORAO 0 THE BEST vacation “buys” of 1936 are described io this book. Gives the actual day*by> day story of ESCORTED TOUR vacations to Yellowstone. Colorado. Zion-Bryce-Grand Canyon National Parks, California-San Diego ExpositionMexico, Pacific Northwest • Canadian Rockies. Alaska. Every tour planned by experts. Send for free book. DEPARTMENT of TOURS Chicago A North Western-Union Pacific 1 C. A N. W. Rv or UNION PACIFIC I 368 Merchants Bk. *65 Dixie Term*! Bide. Bide- | Phone Rilev Slid 46 E. Foorth St. . Indianapolis. Ind. Cincinnati. Ohio s Please seed me SUMMER TOURS ■ Book. * Name........................... J 5treet....................., j

MONDAY, MAY 4,1936

Burroughs Add.. 36% 26% 26% 26% J I Case 152% 145 151 148 Conti Can ... 73% 72% 72% 74 Caterpillar Tract 70 68 % 70 69 Crown Cork .... 55% 53% 55 53% urtis Pub 18% 18% 18% 18% Deere & Cos 7s) 75 79 76% Eastman Kodak 159% 158% 159 156 ■* Foster Wheeler.. 25% 25 25 25% Gillette 16 15% 16 16 Glidden - 46% 45% 46% 46 Ingersoll Rand 108 108 108 110 Int Bus Macfl' ..166% 165 166 169% Inter Harv 83 79% 82% 80‘2 Natl Cash Reg . 23% 22 s , 23% 23% Owens Bot 140% 139% 140% 142 Rem Rand 21% 20% 21% 21% Underwood E ... 87 2 87% 87% 87 Worthing Pmp .. 26% 26% 26% 28% Foods— Am Sugar 51% 50 51% 50% Armour 4'* 4% 4”, 4% Beatrice Cream. 20% 20' 20V, 21 Borden Prod . . 26% 26% 26% 26 Cal Packing . ... 31 30% 30% 30% Can Drv G Ale. 11% 11 11% 11% Coca Cola . . 85% 85 35 V* 85 Cont Bak "A ’ .. 14 13% 14 14 Corn Prod ..74 73 74 73% Crm of Wheat . 35 35 35 35 Cub Am Sue ... 10% 10% 10% 10% Gen Baking ... 11% 11% 11% Tl% Gen Foods 38% 37% 38% 38 Gold Dust. 18 17% 17% *7% G W Sue 33% 32% 33% 33% Natl Biscuit .... 73% 72% 73% 73% Natl D Prod . . 23% 22 23% 22% Purity Bak . 11% 11 Vi 11% 12 S Porto Rico Sug 28 27% 28 28 Std Brands 15% 15 15% 151* Un Biscuit 25% 25% 25% 26 United Fruit 70% 69% 70% 70 Retail Stores— , Allied Stores .. 7% 7% 7% 7% Assd Dry Goods 1.3% 13% 13% 13% Best & Cos 51 51 51 51% First Natl Stores 40% 40% 40% 31% Gimbel Bros 8 7% 8 7% Gm Un Tea 3 3% s *3% 3% 3% Jewel Tea 69 69 69 68 Kresge S S 21% 21% 21% 21% Kroger Groc 22% 22% 22% 22% Macy R H 41% 41% 41% 41% McCrory St 13% 12% 13 12'/* McLellan St 12% 11% 12)4 12 Marshall Field -. 15% 14% 15'% 15 May Dept St .. 43% 43% 43% 44 Mont Ward 39% 37% 38% 38% Natl Tea 8% 8% 8% B‘i Penney J C 73% 72 73% 72'% Safeway St .. .. 31 30% 31 30% Sears Roebuck.. 65% 64 65% 65■% Woolworth 47% 47% 47V* 47% Aviation— Aviation Corp .. 5% 5% 5V4 s'/i Boeing Aircft .. 18% 17% 18V* 18 Curtiss Wright.. 6% 5% 6% 6% Curtiss Wr “A”.. 15V* 14 15% 14% Douglas Air .. 454% 52% 54’% 53% Nor Am Av 8% 7% 8% 8% Sperry Corp 17 16 s , 16% 17 Uni Aircft New. 22 21 Vs 22 21% Chemicals— Air Reduction .. fin'4 59% 60'i 60 Allied Chem . 183 1-79% 189% 183'/, Am Com Alcohol 24 23V* 24 23% Col Carbon 113'% 111% 113% 112 Com Solvents .. 17% 17% n% 17% Du Pont 139 135% 138% 137% Freepßrt Tex .. 30'% 30% 30% 30% Math Alkali 29V* 29% 29''i 39% Natl Dis (new). 28% 28% 28V* 28% Schenley Dist .. 39% 38% 39% 39 Monsanto Chem 93% 91 91 93% Tex Gulf Sulph.. 35V* 34% 35% 34% Union Carbide .. 78 77% 78% 78 U S Indus Alcoh .1% 45'% 47 46% Drugs— Bristol Myers .. 43% 43% 43% 43% Coty Inc 4V* 4% 4% 4% Lambert ....... 19% 19% 19 s * 19% Lehn & Fink .. 15% 15% 15% 15% sterling Prod... 66% . 66 66 67V* Un Drug (new). 12 11% 11% n% Zonite Prod ... 6V4 6% 6% 6% Financial— Adams Exp .... 10% 10% 10% 10% Allegheny Corp. 2% 2% 2% 2% Am Int Corp ... 10% 9% 10% 10% Lehman Corp .. 91% 91% 91 % 92 V* Transamerica .. 12 11.% 12 12 Tr Conti Corp.. 8% 7% 8% BV* Building— Am Radiator ... 19% 19)4 19% 1974 Gen Asphalt ... 24% 24 24% 25 Holland Furnace 34 33 34 33% Int Cement . . 44% 44% 44% 44% Johns Manville . 98% 96% 98% 97 Libby Owens Gls 51 49% 51 4974 U S Gypsum 85 83% 84 85'4 Ulen Cons 4% 4% 4% 474 Household— Col Pal Peet ... IS'4 15% 15% 16 Congolesm 36 35 35 36% Kelvinator 19% 19% 19% 19'* Mohawk Carpet. 23 % 23% 23% 23% Proc St Gamble- 427* 42), 42% 42 Servel Inc 18% 17% 18% 18% Simmons Bed ... 25% 23% 25V* 25% Textiles — Belding Hem ... 14% 14 14 14 Celanese Corp .. 23% 22% 23% 22% Collins Aikman.. 43% 40% 43% 41% Indus Rayon ... 29% 28% 29% 28% Kayser Julius.. 27 s , 27% 27% 27% Local Securities (By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offerings, but merelv indicate the approximate market level based on buying and selling inquiries or recent transactions. BONDS „ Bid Ask Home T & T Ft Wye 5%s ’55 .103 105 Home T & T Ft Wye 6s '43 ... 103 106 Indnapls Railways Inc 5s ’67. 65 69 Indlanpls Water Cos 4Vis ’40.. 106 108 Indianpls Water Cos 5s ’6O 105 107 Indianpls Water Cos 5s ’7O 105 107 Indianpls Water Cos 5%s '53.. 103% 106 Indianpls Water Cos sVis ’54.. 103'% 106 Interstate TANARUS& T s'%s ’53 97'% 98 Kokomo Water Works 5s ’58.. 104 105'% Morris 5 & 10 Stores 5s ’SO ..100 103 Muncie Water Works 5s ’65 .103'% . .. Noblesville H L & P 6%s ’47 .100 101'% Ohio Telephone Service 6s ’47 97'% Richmond Water Wks 5s '57 .105 106% Seymour Water Cos 5s ’49 ...101 104 Terre Haute Tct St, L 5s ’44 .106 108 Terre Haute W Wks 5s ’56 .. 102 104 Terre Haute W Wks 6s ’49.. 103 10.5 Tct Terml Cos 5s ’57 75 78 STOCKS Belt Rail St S Y Com 53 55% Belt Rail & S Y Pfd 6s 52 . . Central Indiana P Pfd 7s 18 21 Home Tel St Tel Ft Wye 7s 52'i 54% Hook Drugs Inc Com 17% 19 Ind & Mich Elec Cos Pfd 75.. 103% 106% Indiana Genl Serv Cos 6s 98 100% Indiana Hydro Elec Cos 75.... 55 58 Inaianapls Gas Cos Com .... 30 35 Indianpls P <te L Ct Pfd 6'%s. 91 94 Indianapls Water Cos Pfd 55.. 102 105 North Ind Pub Serv Pfd 5%5.. 60 63 North Ind Pub Serv Pfd 65... 67 70 North Ind Pub Serv Pfd 7s ... 77 80 Progress Laundry Cos Com ... 10 11% Pub Serv Cos of Ind Pfd 7s .. 18'i 21% Pub Serv Cos of Ind Pfd 75.. 39 42 South Ind Gas St Elec Pfd 6s. 99 102 Terre Haute Elec Cos 6s .... 92 94 Union Title Company Com... 19% 21%

PAID POLITICAL ADVERTISEMENT Cut This Out and Take to the Polls VOTE FOR ROOSEVELT T W NEW DEAL gg DEMOCRATS W DEFEAT BOSS IS M l Vofe for These Candidates and Beaf Machine Rule of the Bosses First Column . Second Column Third Column STATE SENATOR STATE REPRESENTATIVE COUNTY TREASURER (VOTE FOB FOUF ONLY) (VOTE FOB THESE ELEVEN ONLY) (VOTE FOB ONE ONLY) (19) L. Carl Berry g] (29) Ammon H. Abbett (x) < 62 ) Hannah A. Noone g| (20) Alphonso F. Burrows jx] (31) Alexander Baker [xj COUNTY SHERIFF (21) Toney Edward Flack 0 (32) Edward P. Barry , (x] <VOTE rOK °* E (24) Leo X. Smith (34) Guy A. Braughton (x] ***' §3 (41) William C. Erbecker [x] COUNTY CORONER (VOTE FOB ONE ONLY) (47) James J. McCaslin * S (67) j ohn E . Wyttenbach [x) Sponsored by (50) Lawrence C. Miller (x) COUNTY COMMISSIONER ROOSEVELT NEW DEAL ro . u T (vo^o^o^n^Yt DEMOCRATS < o2 > Henr r J * R“hartson, ® (71) Pau , * OB 0 - >LT) Judge Wilfred Bradshaw President Bess Robbins |Xj juage w Hired israfLnaw, President COUNTY COMMISSIONER Orville Bray, Vice-President (54) Ernest C. Ropkey |X] third district (VOTE FOB ONE OXLT) Lena Wood, Secretary (59) Edward C. Wakelam [Xj (76) Dew W. Vorhies S ALSO Be Sure to Vote the Greenlee New Deal List ol Delegates for Governor br - ' r- Cut This Out and Take to the Polls This Advertisement Paid for by Noone-For-Treasurer Club, Kathleen Fischers, Treas.

PORKER PRICES REMAIN STEADY AT CITYYARDS Cattle Market Unchanged; Veals Off 50 Cents; Lambs Higher. With both recsipts and demand around normal, the pork market displayed a steady trading range today at the Indianapolis Union Stockyards. Initial trading developed slowly as some buyers appeared to be awaiting further developments. The total number of receipts was estimated at 4500, including 193 holdovers from Saturday’s session. The bulk of 160 tc 225 pounds sold at $10.55 to $10.65. Extreme heavy butcher classes, from 300 to 400 pounds, brought $0.85 to $10.05. Light slaughter from 160 pounds down sold at $9.25 to $10.50. Packing sows held at $8.50 to $9.25. The cattle market was generally steady, especially on all slaughter grades. A single load of good and choice steers weighing 1011 pounds each sold at $8.40. The bulk ranged from $7 to SB. A part load of good and choice heifers brought SB. Others sold at $7 to $7.75. Receipts were 1200. Vealers were steady to mostly 50 cents lower than last week’s close. Bulk of good and choice sold at $9, $9.50. Receipts were 600. With the total supply consisting largely of clipped grades, the lamb market was 25 cents higher. These classes weighing from 83 to 97 pounds each sold at $10.25 to $10.50. Small lot of choice spring lambs, averaging 69 pounds each, brought sl4. Receipts numbered 1000. HOGS April. Bulk. Top. Receipts. 28. [email protected] $10.65 6000 29. 10.55 75 10.65 10.55 3500 30. [email protected] 10.55 3500 May t. [email protected] 10.75 4500 2. [email protected] 10.65 1000 4. [email protected] 10.65 4500 Light lights. (140-160) Good and choice $10.20® 10.50 Medium 9.557510.20 (160-180) Good and choice.. [email protected] Medium [email protected] (180-200) Good and choice.. [email protected] Medium [email protected] (200-220) Good and choice.. [email protected] (220-250) Good and choice.. [email protected] Heavyweights. (250-290) Good and choice.. [email protected] (290-350) Good and choice. [email protected] Packing Sows. (275-350) Good 9.10@ 9.40 (350-425) Good 8.85@ 9.25 (425-450) Good 8.50(d) 8.90 (275-350) Medium 8.40@ 9.10 Slaughter Pigs. (100-140) Good and choice.. [email protected] Medium 8.40@ 9.75 CATTLE —Receipts, 1200— (■550-900) Choice $ 8.75@ 9.75 Good 7.75(8) 9.00 Medium 6.75# 8.00 Common 5.75@ 6.75 (900-1100) Choice 9.20@ 9 75 Good B.oo@ 9.25 Medium 1 6.75® 8.00 Common 5.75@i 7.00 (1100-1300) Choice 9.00# 9.75 Good 7.75® 9.25 Medium . 7.00@ 8.00 (1300-1500) Choice 9.25® 975 Good 7.75® 9.25 Heifers (500-750) Choice 7.75® 8.40 Good 7.25® 7.75 Common and medium 5.75® 7.25 (250-900) Good and choice.. 7.25@ 8.40 Cows 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. 600— Good and choice $ 8.50# 9.50 Medium 7.50@ 8.50 Cull and common 5.00@ 7.50 Calves (250-500) Good and choice.. 6.00® 9.00 Common and medium 4.50@ 6.00 Feed and Stocker Cattle (500-800) Good and choice... 7.00# 8.25 Common and medium 5.75# 7.25 (800-1050) Good and choice... 7.00# 8.25 Common and medium 5.50® 7.25 Cows Good 4.75® 5.25 Common and medium 4.50# 4.75 SHEEP AND LAMBS —Receipts. 1000— Lambs, 90 lbs. down; good and choice [email protected] Good [email protected] Medium 8.75® 9.85 Common 7,50@ 8.80 Ewes (90-170) Good and choice... 4.50@ 5.75 Common and medium 3.50® 4.75 (Sheep and lamb quotations on clipped basis.) Other Livestock (Bv United Press) LAFAYETTE. Ind.. Mav 4.—Hogs—Market. steady: 170-210 lbs.. 'slo.4o# 10.50: 210235 lbs.. [email protected]: 235-275 lbs.. slo# 10.20; 275-325 lbs.. $9.80#9.G0: 150-170 lbs. $10.25; 100-150 lbs.. $9.25@10: roughs. $9 down. Calves—Market. 50c lower: top. $8.50: lamb market steadv. [email protected]: wooled clipped lambs. $9 down: spring lambs. sl2.

New York Bonds

DAILT BOND INDEX 20 20 20 SO Inds Rails Util. Bonds Todav 90.1 89.7 104 4 94 7 Today . 90.1 89 7 104 4 94 7 Saturdav 90.2 89 6 104.4 94.7 Week ago 90.5 89.9 104 4 94 9 Month ago-.... 91.9 92.7 105.0 96.5 Year ago 87.4 76.0 97.5 87 0 1936 High 93.4 95 6 105.5 97 9 1936 Low 90.0 84.7 103 5 93 3 (Copyright, 1936, by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasury* Prev. Close Ciose 4%s 1947-52 117.20 117.24 4s 1944-54 112.20 112.22 3%S 1946-56 110.29 111.2 3%s 1940-42 103.16 103.19 3%s 1941-43 108.28 1 08.31 3%s 1943-45 107.17 107.18 3%s 1941 108 23 108.27 3%s 1944-46 107.8 107 1 0 3%s 1949-62 105.17 105.19 3s 1951-55* 104.3 104,11 3s 1946-48 104.26 104.26 2%s 1945-47 103.4 103.25 2%s 1945-47 101.27 101.26 Home Owners Loan Corn. 2%S 1949 101.8 101.10 3s 1952 102.15 102 16 Federal Farm Mortgage Corn. 3s 1949 102.23 102.25 3s 1942-47 103.18 103 20 DOMESTIC Prev. Close, close. Alleg Corp 5s '44 90% 91 AUeg Corp 5s '49 . 83 83V* Am Frgn Pow 5s 2030 71 % 71 Am Tel St Tel 5%s '43 112 7 * 113 Am Tel St Tel 5s ’65 113 112% Arm St Cos (Dell 4s '55 97% 97% Atl Coast, Line 4s '52 96% 96 Atl Coast Line 4%s ’64 78 77% Atch Top & 8 Pe 4%s '4B 11l 111 Am Wat Wks 5s ’44 102.16 102.14 Am Rolling Mills 4%s ’45 114 115 Balt St Ohio 6s ’95 92 92% Balt & Ohio 4'is ’6O 67% 67V* Buff Roch & Pitt 4%s ’57.... 74% 74 Beth Steel 4%s ’66 . 104 104 Chi Milw St St Pss ’75 18V* 18% Chi Milw & St P 5s 2000 6% 6 7 * Cleve Un Term 5s ’73 106 Vi 106% C’leve Un Term 4%s ’77 102 101% Col Gas 5s May '52 103 7 * 104 Col Gas 5s April ’52 104 103'% Col Gas 5s ’6l 102% 102'% Can Pac Perp 4s 91 91% Cent Pac 5s ’6O 98% 98% Big Four 4%s ’77 88% 88% Big Four 5s '63 96'% 96 Colorado St So 4%s ’BO 68% 68% Chi & West Ind 4s ’52 102% 102% Chi St West Ind s'%s '62 106% 106% Chi & Nor West 4%s ’49 11%. 11% Con Gas 5s ’57.. 103.27 103.27 Chesa Corp 5s ’47 124% 124'* N Y Dock 4s 'sl 66 66 N Y Dock 5s '3B 65V 2 65 Erie 5s ’75 72% 72% Erie 6s '67 73 73 Gen Cable 5%s '47 104% 104% Grt, Northern 7s 36 100.30 100.36 Grt Northern 4%s ’76.. .. 101% 101% Grt Northern 4%s ’77 100% 101 Gen Etl Cast WW sVis '49... 80% 80 Hud & Manhat Ref 5s ’57 ... 83% 83Va 111 Cent 4%s '66 69 69'% 111 Cent Jt 4%s '63 79% 80'% 111 Cent 5s '63 82% 83 New Bond Issues (By Lyons St Cos.) Bid. Ask. Asso Tel 5s '66 104% 105 B & O ’39 . . 98 98'% Cal Ore Pwr 4s ’66 94'% 95'% Cent Maine 4s '6O 102'/a 102% Cent 111 3Vis ’66 104% 105'/* C St O Rep and Imp 3'is ’95 99% Chicago Sts 3%5, ’63 105V* 105% Cinn Un Term 3'/ 2 s ’7l 103'% 103'% Cleve Elec Ilium 3%s '65 110% 111 Cleve Tractor 5s ’45 103'% 105 Columbia Lwy P & L 4s '65.- 104% 104% Conn River P& L 3%s '6l 104V* 104'% Consolidated Ed 4Vis ’46. 102'% 102% Consolidated Ed 3’%s ’56 100 100% Consumer Power 3Vis "70 193% 103% Cudahy Pkg 3%s ’55 100 100% Cuhady Pkg 4s ’SO 101'% 102 Duquesne Lite 3Vis ’65 106% 106% Eastern Gas & Elec F 4s '56 . 91% 91% Edison Ilium Bost 3'%s '56 ... 106 105% lowa South Util s'%s ’SO 105'% 105% Jones & Laughlin 4%s '6l 98 98Vi Kansas P St L 4'%s '6l 108 198% Los Angeles GSt E4s ’7O 104'% 104% Miiint Cent 4s '45... 99'% 100% Metro Ed 4s '65 107 107%. Monon W P 4'%s ’6O 104 104% Natl Dairv 43%s ’6l 104 104% N Y Edison 3%s '6O 101 101% Norway 4Vis ’56 96% 97 •Norway 4Vis ’65 94'% 95'/* Ohio Edison 4s ’66 104% 105 Pacific Lite 4>%s '45 105 105% Pacific G St E 3%s '6l . 102% 102% Pacific Tel 3%s '66 101% 102 Penn R R 3%s '7O 1.00% 100% Penn Tel 4s '65 105'% 106 Pub Serv N H 3%s ’6O 104 104% Railway & Lite 4Vis '55 -09 110'% Saquencv Pwr 4%s '66 100 San Diego G & E 4s '65 108 108% So Cal Gas 4s '65 103% 104'% So Cal Ed 4s '6O 106% 108'% So Cal Ed 4%S ’45 104'% 105 So Western G St E 4s ’6O 102 102% A E Staley 4s '46 103% . Union Pac 3%s ’7l 98% 99% U S Pike & Fdv 3'%s ’66 .....103 103'% Virginia Rwy 3'%s '66 102% 192% West Penn 3%s 'O3 105% 105% Misc B St E 3'%s ’66 101% .101% Youngstown Sheet & Tr 4s '6l 98Vi Ygstn Sheet & T Debt 3'%s ’sl 102% 102'% Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS „ , Bid Ask Bankers Trust 56 57% Central Transfer 105’/* 107'/* Chase 34% 36% Chemical National 52 53% Guaranty 280 284'% Irving 14% ii% Manufacturers 44% 46% National City 31% 32% Cont 111 Chicago 142 145% First National Boston 43% 45V* National Shawmut 24% 26V* FIRE INSURANCE Aetna Fire Ins 50% 52% American Ins of Newark 14 154, Baltimore American 7% 9% City of New Y.qrk 23'% 25'% Federal Ins 44 48% Franklin Fire 30 31% Great American Ins 27V* 28% Hanover Fire Ins 36% 38% Hartford Fire 70V* 72'% Home Ins 34% 35% Ins Cos of A 70 72% National Fire 67% 69% National Liberty 9% 11 North River 24% 26'% Phoenix 83 85% U S Fire 51% 53'% Westchester Fire 33'% 35%

Bituminous Coal Membership Bituminous coal code members totaled 4288 on April 20, according to the last report of the National Bituminous Coal Commission.

PAGE 9

Interlake C & I 5s 'sl 81% 93% Interntl Hv Elec 6s 44 . 41% 41 s , Interntl Tel St Tel 4%s '39 ... 89 90 Interntl Tel St Tel 5s '55 80% 80 Interntl Tel St Tel 4%s '52 ... 75 75% P Lorillard 7s 44 133 131 s * McKess & Rob 5%s 'SO 103% 103'-* Natl Dairy 5%s '4B 103 102% Nalt Steel 4s '65 104% 104% Nickel Plate 4%s '7B 82 81% Nickel Plate 5%s '74 91% 92% N Y Cent 5s 2013 89% 89 s * N Y Cent 4%s 2013 (old) R 2% 82% Nor Pac 3s 2047 80% 81 Nor Pac 4%s 2047.. 109% 101 Nor Pac 6s 2047 no% 111 Nor States Pow 5s '4l 104% 104% New Orleans Term 4s 55 ... 88% 89 Otis Steel 6s 41 102% 102% Penn Ry 4%s 'B4 107% 108 Pern) Ry 4%S '81.: 108'* 108 Penn Rv 4%s '7O 102% 192% Pac G St E 5s '42 103 103 Portland Gen El 4%s '6O 68 67 Para Publlx 6s 55 86% 86 Penn P St L 4%s 81 106% 106% Postal Tel St Cab 5s '53 29 29 Rem Rand WW 5%s '47 108 108 Shell Union Oil 5s '47 94% 94% Sou Pac 4%s '6B 87% 87% Sou Pac 4Vis 'Bl 87% 87 Sou Pac 4%s '69 87% 87% Sou Rail 4s ’56 57’' ■ ,73, Sou Rail 6s 56 73% 77% Sou Rail 6'is '56 77 77 Texas Pac 5s ‘BO 101% 101 3 , Texas Pac ss' 79 102% lO"", Texas Pac 5s '77 102 s * 102% Union Pac 4s '47 ...llbl 113% United Drug 5s 53 99% 100% U S Rubber 5s '47 . ...105 s * 105 s ; NY NH & Hart 6s '4B 30 s * 31% NY NH & Hart 4%s '67 31 31% Warner Bros 6s '39 91% 92% Western Mary 5%s '77 107% 108% Western Mary 4s '52 100 100 Youngstown S&T 5s '7O .. 107 107 Youngstown S & T 5s '7B ...105 105% FOREIGN Argentina A6s '57 99% 99% Argentine B 6s 'SB 100 99% Canadian Govt 4s '6O 107 107 Denmark 5%s '55 101 101 German sVis '65 25% 24% German 7s ’49 33% 33 Italy 7s 'sl 72% 72 Japan 6'is '54 96 96% Poland 7s '47 91 90 Rome 6'is '52 63% 62% Tokio City 5%s '6l 74 s * 75 Yokohama 6s '6l . 79 79 Other Livestock (By United Press) CHICAGO. Mav 4.—Hogs—Receipts. 16000; including 7000 direct: sows opened steadv with Friday's average: later trade 5 to 10 cents lower; top. $10.55; bulk bettei erade 150-250 lbs.. $lO 20@ 10.50: 250-300 lbs.. $9.80@10 25: 300-350 lbs.. [email protected] sews mostly. $8.90#9.15: few. $9.25. Cattle —Receipts. 13.000; calves. 1500: anothci ; liberal run of fat steers: practically nothing done: medium to good grades predominating: shipper demand narrow: earlv top $9 with several loads held at $9.50# 9.75: all grades light vearlings in broader demand than weighty steers and yearlings; heifers steadv with lower grade kinds fairly active; best heifers early. $8.40; cows again very scarce fully steady: no measureable change in bull and vealers; practical top on sausage hulls. $6.40; vealers. $9.50 down to $7; mostly $7.50® 9. Sheep—Receipts. 9000: slow, mostlv steadv early bulk choice wooled lambs. $i1.75@12: shipping demand narrow: clippers scarce: few $10: holding good to choice native springers about sl2: clipped ewes averaging 115-145 lbs. at $5.75: bulk *5©5.75; few wooled ewes, $5.50#6.25. FORT WAYNE. Ind.. Mav 4.—Hogs— Steadv to 10c lower; 160-180 lbs.. $10.55; 180-200 lbs., $10.45- 200-225 lbs. $10.35; 225-250 lbs., $10.25: 250-275 lbs.. $10.05; 275-300 lbs.. $9.95: 300-350 lbs. $9.70; 140160 lbs. $10.15; 120-140 lbs. 9.90; 100-120 lbs. $9.65. Roughs. *8.50; Stags. $6.75; calves, $9.50; lambs, $11.50. FREIGHT CARLOADINGS CLIMB 3.66 PER CENT Week's Total of 666,181 Is Second Highest For Year. Times Special WASHINGTON, May 4.—Revenue freight car loadings totaled 666,181 during the week ended April 25. an increase of 23,524 cars, or 3.66 per cent, it was announced today. In the preceding week the total was 642,657. Last week's total was the second i highest for the year and was the | best for any similar week since 1 1931. The percentage increase over 'the same period a year ago was 19.18 per cent when loadings amounted to 558,936. Coal loadings gained sharply during the week, showing an increase of 14,273 cars, or 12.99 per cent, over the preceding week. Miscellaneous freight gained 3298 cars or 1.17 per cent, while grain and grain products gained 2928 cars, or 9.70 per cent. FOREIGN BUSINESS GAINS Colombia Pictures Corp. Reports Increase of 25 Per Cent. Times Special NEW YORK, May 4.—Foreign business of the Columbia Pictures Corp. increased by approximately 25 per cent during the first three-quar-ters of its fiscal year over the same nine months a year ago, the company announced today. The company’s foreign business has shown a steady growth since the adoption of the policy, in September, 1934, of distributing through its own offices rather than through franchises. Thus policy was inaugurated with the opening of nine distribution centers in the British Isles, officials of the company announced.

WHEAT VALUES MOVE UPWARD IN LATE RALLY Oversold Condition Starts Advance; Corn Drops Fractionally. Bp T'nitrd Press CHICAGO, May 4—Wheat price* rallied after an easy start as an oversold condition developed on the Board of Trade. At the end wheat was up \ to 1 cent; corn was off % to % cent, and oats were off % cent to up *4 cent. The market was dull throughout the session and caution prevailed in the pit as traders chose to wait further political developments in Europe. Wheat prices dropped early in response to a lower Liverpool market, but rallied in the last few minutes as traders evened up their commitments in anticipation of the private reports on the Euroean situation which will be released tomorrow. Scattered buying and short covering on a moderate scale lifted new crop deliveries. Volume of trade was light throughout the session and the market was featureless. Most of the buying and recovery movement was attributed to the shorts. ( Corn displayed an easy tone, despite the rally in wheat. The market was featureless and little action was displayed. Oats failed to follow wheat in a dull market and continued to show an easy undertone. Rye eased and lard futures fluctuated within a narrow range. IBy United Press' Prev. High Low Close Close Wheat— May ..... .98% .96% .98 .97% July 87% .55% .87 .86% September ... .85% .83% .85% .84% Corn— May .62% .62 .62% Julv 60% .60% 60 s , .60% September 59% .58% 59% .59% Oats— May 25 s * .25'* .55% .25% July 26 ,25 s * .25% .26 September .. .26% .26 .26% ,J3'4 Rye— May 50% .49% .50% .50% July 50% .49% 50% 50% September .. .51 .49% .51* .50% Barley— May .26'it .26% Lard July ..10,85 10.82 10.82 t 10.85 July 10.85 10.85 10.82* 10.85 September 10.90 10.85 10.85* 10.80 *Asic; *bid. CHICAGO PRIMARY RECEIPTS Bushels w . Today Last Week 52l^ at 521.000 584.000 X°I n ••• 303.000 1.343.000 ° at * 315.000 384.000 INDIANAPOLIS No ' 1 rsd - 95#96c: No. 3 uuu 94#95c, Corn—Steadv: No. 2 white I 60@61c: No. 3 white, 57%@59%e: No 4 white. 56#57c: No. 2 yellow. 58@60c: No. . veHow. 56@58'2c; No 4 yellow. 53%@> 1 No J oiixed. 57@58%c: No. 3 mixed. I Oats—Steadv: No. 2 white. 24® 2ic: No. 3 white. 22® 24c. LOCAL CASH MARKET City grain elevators are paying 90 cent* lh It. 0 ?. so £ wheat. Otner grades on jbeir merits. Cash corn new No. 3 yellow 53 cents and oats 18 cents. (By United Press) CHICAGO May 4.—Cash grain: Wheat 3 XT St. 02%. Corn—No. 2 mixed, 4 mixed. 60' 2 c: No. 5 mixed. 57%@58c; No. 2 yellow. 64'/@64%c; No. 5 yellow, 62'*r@ 64*.*c; No. 4 yellow 60® f 25; No.. 5 yellow. 57@60c; No. 2 white. 57%@67%c; No. 3 white, 65%c: No 4 white. 64'ic; No. 5 white. 57%: sample, 20@ 60c. Oats—No. 2 white. 29ci No 3 white. 25'/*#2Bc: No. 4 white, 24@27c; sample erade. 21@24%c. Rve. no sales. Barley—No. 2 malting. 68@85c; sample grade Wisconsin. 76c. Timothvseed. $2 70 @2.80. Soy beans —No. 2 yellow. 85c- No. 4 yellow. 81c; sample grade. 76@76%c Cash provisions—Lard. $10.97 bid; loose, $10.35 nominal: leaf. $10.37 nominal; bellies. sl4 nominal. TOLEDO. May 4.—Grain close: In elevators. transit blling: Wheat—No. 2 red, slol® 1.02. Corn—No. 2 vellow 67 %@ 68%c. Oats—No 2 white. 33%@34'c Rye—No. 2. 58@ 59c Track nrices. 24%e rate: Wheat—No. 2 red. 96@97c: No 3 red, 94@96c. Corn—No. 2 yellow 63@64c; No. 3 yellow. 61%#62'-c: No. 4 yellow, 59@61c. Oats—No. 2 white, 29%#32%e: No. 3 white. 25%@31%c. *™ 'Paid Political Advertisement) tmmm ° TOWNSEND MEMBERS AND FRIENDS The Townsend Congressional District, Board of the 12th Congressional District of Indiana endorse as their candidates for Congress: LEWIS W. HEAGY. DEMOCRAT. BALLOT No. 12. U. FRANK TREAT. REPUBLICAN Republican Ballot No. 15 . VOTE FOR THESE CANDIDATES JAMES E. MACDONALD. 12th Distriet *iM**MKB Organizer.