Indianapolis Times, Volume 48, Number 54, Indianapolis, Marion County, 13 May 1936 — Page 16

Trends English Face Tax Burden Without Flinching. BY JOHN T. FLYNN

NEW YORK. May 13 —While we are wrestling in this country with the unpleasant bus.ness of raising a few hundred millions extra to pay pert of our national bills, our friends in England are having much the same difficulty. It is interesting to observe the manner in which they approach the job compared with our own.

In the yea ahead of us we have to face the paying of some $9,000,000,000 of bills. To do that we now propose to raise three bill ion dollars less than that. The English have made up their list of bills. It comes to about $4,000,000,000. To pay those bills they propose to raise by taxes that much and some $5,000,000 more. In other words,

Flynn

they plan to pay their bills. b a a THIS they propose to do no*withstanding the fact that it means tightening once again on the taxation screw. What it means to the individual taxpayer may be seen in some simple figures. Take an American and an Englishman with incomes of SIO,OOO. The American gets far more tax allowances than the Englishman. With a wife and two children the Englishman would pay taxes on an income of S7OOO. while an Englishman would pay on a net income of SBSOO. On this basis the American would pay a Federal income tax of $4lO. The Englishman would pay an income tax of $1545 or almost four times as much. B B B 'T'O be fair about this, you would A have to add to the American’s Federal tax his state tax, because in England the national government combines generally the functions of our national and state gqyernments. Let us take the state of New York, where the income tax j is largest. Then the American ' would have to pay an additional ; $330. Hence his total income tax I would be $740. But since the Englishman pavs $1545, he is paying j more than twice what we pay. The Englishman has had the i courage to get the bulk of his tax revenues from visible income taxes. This year the Chancellor of the Exchequer announces that he will raise $2,161,000,000 in income taxes and $1,800,000,000 from all other sources. Wc need $9,000,000,000. We propose to raise roughly three billion on income taxes and profits taxes, three billion on excise taxes, and, three billion by borrowing. BUB IN this English budget is an item which should challenge the attention of Americans. We continue to discuss the question as to how far we may go on borrowing before our limit is f reached. But here is a practical feature to be considered. The English have a i vast debt. It is the result, of course, I of the war. In a budget of four j billion dollars, $1,220,000,000 is used I up in interest. To that state, of course, we will come. It is this vast interest outlay which weighs the Englishman down. This and ' his war preparations. We now are increasing our annual interest charge by about $90.000.000 a year. And we are starting, under Mr. Roosevelt's leadership, upon the thorny road to vast war preparations and armament bills. iCouvrisht. 1036. NEA Service. Inc.i B. & 0. LOADINGS RISE Increase of 10,880 Cars Reported Over Same Week of 1935. 7'imf* Special BALTIMORE. May 13.—Carload ings of revenue freight handled ov the Baltimore-& Ohio Railroad during the week ended May 9 aggregated 47.353 cars, including 30.877 loaded on line and 16,481 received from connections, the company reported today. This was an increase of 10.880 cars over the same week last year when the total amounted to 36.478. CREDIT MEN TO ASSEMBLE Timex Special RICHMOND. Va., May 13.—Foreign trade and export credit problems are to be studied at one of the sessions of the fortieth annual convention of the National Association of Credit Men, scheduled for this city June 8 to 12. On Commission Row (Quotation below subject to change are average Wholesale prices being offered to buyers by local commission dealers. I FRUlT—Strawberries: Louisiana. 24-qt. crate. $2 50: Alabama. 24-qt crate. $5 25. Limes- Mexican, carton 20c. Bananas—.seven hands, pound. 5%e. Apples—Wine•vaps ifanry baskets!. $1 75 Lemons—Sunkist i3005% *8 Grapefruit—lmperial Valle?. $3 75. Pineapples—Cubans 18-30si. crate. $3.50. Gr&oes—S ..nierica 20-lb. box. tt.25&2.50; Honey Dews. S. America. S3 VEGETABLES—Beans. green, round stringless ihamperst. $3 25 Beets— Texas (dor. crahei. 85c; cut offs ibu i. $1 Cabbage—New- Texas, half crate, $1.35 Carrots —California (6-doz. cratei. *2.75. Cauliflower. California < 12c crate'. $1.75 Celery—Florida washed and trimmed (dor l, 45®85c: Florida (4s. 8s 10s cratel, $3 50 Cucumbers—Hothouse (doz.i. 90c; two do*, boxi, $1.65. Egg plant—Florida (dor t, $1 75 Kale—Virginia ibu.'. 75c. Lettuce —Iceberg, California (best 6s Sst. *3: home grown leaf (15-lb. basket i. 75c Peppers—Mangoes (cratel. $3.50414; peck basket, $1.15; do*.. 40c Mint—Hothouse (dor I. 60c. Mushrooms—Pound. 30c. Mustard—Texas, half crate, $1.40 Onions —lndiana yellow iSO-lb. bagt. 60c; new Texas Bermuda yellow. 50-lb bag $1.25. Parsley—Southern dong bunches do*.'. 35c Parsnips Home grown, washed, bushel. 90c; half-bushel. 50c. Peas— Florida, hamper. $lB5 Potatoes—Michigan Pound Whiter 100-lb. bag. $2.25; R. R Early Ohio. 100-ib bag. $2 25; R R. Triumph. 100-lb. bag. $2.25: Idaho Bakers 70c box. $2.50; New Alabama Triumphs, 70s box. $2 50. Sweet potatoes—Tennessee Nancy Halls, hampers. $1.35. Radishes—Homegrown buttons, do*.. 40c; white. 50c. Rhubarb—Hothouse, doz., 25c. Rutabagas—Northern 50-lb. bag. $1.50. Sage—Do*., 45c. Shellots—Louisiana do*., 35c Turnips—New bulk Texas, bu.. 51. 75. Tomatoes —Repacked. 10-lb. box. $1.50; Florida, orlg. (8-6i. lugs. $3 25. FRIITS AND VEGETABLES ißy United Press) CHICAOO Mar 13—Apples WillowTwigs. bushel. $1 25 Carrots—lllinois fcu*hel. >5 j 30c. Sweet potatoes—Tennesce —Bushel. sl.lO Beans—Louisiana $1 57 ® 2 Cabbage—Texes lettuce crates. 75c it $1.25. Spinach—Arknt* bushel 25® 50c Tomatoes—Florida. $2 25i3 25. Cauliflower crates $1.50*71.60. Peas California, hamper*. $1.5001.60. Lettuce—Western, crates $1.750 2 Celery—Florida crates $1 76Q3.25. Onion market (50-lb. taclui; g Texas white wax. 90£95c.

PAGE 16

EFFORTS FAIL TO STIMULATE OULL MARKET Higher Prices Obtained for Stocks, Bonds and Commodiites. BY ELMER C. WALZER United Press Financial Editor NEW YORK, May 13.—Stocks, bonds and commodities were higher today, but their markets continued around the dullest levels for the I last 10 months. Traders on the Stock Exchange patiently pushed up gjroup after group in the hope of stimulating a i following that might increase tradj ing. They bought steels and motors lin ethe early trading. Then the j mail orders were given a whirl fol- : lowed by the liquor stocks. Late in I the session the metal shares and 1 radio issues were bid up. A few gains ranged to 3 points or more, but most of them were from i fractions to a point or so. Distillers Seagrams and Hiram Walker | were up 3 points each at their tops | and Schenley gained more than a 1 point in the wet stocks. Smelting Leads Section American Smelting led its section with a gain of more than 2 points at the top. Zenith rose nearly 2 points in the radio stocks; Sears Roebuck a point in the mail orders and Chrysler a point in the motors. Liggett & Myers B jumped nearly I 3 points in a firm tobacco group. Greyhound was up more than 2 points in its section on word that liquidation of a large block of the stock had been completed. Most of' the railroad equipment shares were higher on outlook for heavier purchases of equipment by the carriers. Railroad new r s was cheerful and some of the rails made fractional gains. April railroad earnings, it was estimated, would set anew high for the year. The weekly report of the Edison Electric Institute showed a substantial gain over the previous week. Utilities, however, continued i quiet. At the highs of the day, the industrial average was back to where it was a week ago. Money and Exchan ye INDIANAPOLIS STATEMENT Clearings $2,960,000 Debits 6.589.000 TREASURY STATEMENT (By United Press) WASHINGTON. May ‘ 13.—Government expenses and receipts for the current fiscal .vear to May 11. as compared with a year ago: This Year. Last. Year. Expenses $6,225,918,925.12 $6,158,792,971.02 Receipts . 3.461.646.253.34 3.213.699,585.88 Deficit . 2.764.272.671.78 2,945,093.385.14 Cash bal 2.390.749,221.99 1,742,546.134.64 Pith, debt 31.461.762.917.63 28.618.689 731 73 Gold Res. 10.265.153.4,70.13 8.734.325.589.22 Customs .. 336.384.329.40 295.342.286.96 Investment Trusts (By Thomas D. Sherrin & Cos.) Bid. Ask. Administered Fund 2nd $15.63 sl6 63 Affilafed Fund. Inc. . ... 1,69 187 American General Equities .. 98 1.00 American Business Shares .. 1.07 1,17 Bullock Fund Ltd 16.65 18.13 Broad Street Investing 27.63 29 55 Century Shares Trust . . . 25.79 17 74 Collateral Tr. Shares A' 6.09 . . Corp -AA’ or Accum.' (mod.) 3.15 3.19 Corp. 'AA - or ACC' iunmod.l 2.55 259 Corp Trust Shrs (orig. I 2.63 267 Diversified Trust Shs B' . 9.57 9.67 Diversified Trust Shrs ‘C’ ... 4.21 424 Diversified Trust Shrs - D’ . 6.36 6.46 Dividend Shares. Inc 1.54 1.67 General Investors Trust . . 5.52 6^07 Incorporated Investors 20.50 22.10 Investors Fund Amer 98 1.08 Market St Investment Corp.. 28.79 30 30 Maryland Fund . 17.90 19.37 Massachusetts Investors .. . 24.20 26 25 Nation-Wid“ Sec Cos B - .... 4.05 Nation-Wide Voting 1.65 i 78 N American Tr Shrs 1955 . . .3 15 3is N American Tr Shrs 1956 3.11 3 14 N American Tr Shrs (orig.). 2.43 Quarterly Income Shares 1.48 i 63 Selected Amer Shares. Inc . 1.46 1.60 Selected Amer Shares 1 orig.3. 3.41 Selected Cumulative Shares 8.90 9.00 Selected Income Shares 4.64 4 74 State Street Investment Corp. 93.00 98.09 Super-Corp of America ‘AA - 2.68 2.71 Super-Corp or America BB’. . 2.71 275 Super-Corp of America 'A' ... 3.96 401 Super-Corp of America B' .. 4.15 420 Super-Corp of America C 7.67 Supervised Shrs Inc iDela.i 12.45 13 66 Trustee Standard Oil Shrs 'A' 6.81 691 Trustee Standard Oil Shrs B' 5.93 6.03 Trustee Standard Invest 'C 2.80 2 si Trustee Standard Invest ‘D'.. 2.74 277 1 xUnited Standard Oil Funds .1.17 1 29 I Uselps 'A' ... 17.45 17.75 ! xUselps B' 2.60 ; Uselps Voting 1.01 . .. xEx-Divider.d. Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers Trust 56'a 58U ‘ Central Hanover 108% 108'* Chase 3(5.1* 38 : Chemical . 22*,* 54% [Guaranty 288 291', Irving 15 16% Manufacturers 48% 493., National City 32% 34 Cent 111 Chicago 140 143% First National Boston 43% 45", National Shawmut 26 27% FIRE INSURANCE Aetna Fire Ins ... 53 5514 American Ins of Newark .... 14' 4 16 Baltimore American 8", 9% Citv of New York 24% 26% Federal Ins 45 4914 Franklin Fire 31*; 3334 Great American Ins 28% 29% Hanover Fire 38% 40 1 2 Hartford Fire 73 751 4 ! Home Ins 35% 363 4 Ins Cos of A ..! 71 73 3 4 National Fire 7i* 4 74 National Liberty ! 9% n% North Liberty 93% 351, Phoenix 87 89', U S Fire 50% 52*4 I Westchester Fire 35*4 375, Produce Markets The prices quoted are raid Tor stock ! (lathered in the country, while delivered In Indianapolis the price Is a cent higher Heavy breed hens. 16c; Leghorn breed hens 16c, old cocks. 9c: ducks, white 5 lbs. and over. 7c; geese full feather, all [Sizes. sc: all guineas 1% lbs. and up. 15<--No. 1 strictly fresh ecus loss off. 17c: delivered In Indianapolis. 18c. F.ach full case roust weigh 55 lbs gross; a deduc- ; tjon of 10 cents a pound under 55 lbs. will be made No. 1 butter. 30%531%c; No. 2. 27'2528'.2C. Butterfat. 25c. (Bv United Press) CHICAGO. May 13—Eggs—Market, easy; receipts. 32.627 cases: fresh graded firsts : ?o%e: extra firsts. 21%c; currep' rece’.p's. 19*40; dirties. 18*4C; checks. 15%c Butte—Market, steady; receipts, 10,720 tubs: extra <92 sepre'. 26c; extra firsts <9O-91 > j score 1. 25%4?25%c; firsts iBS-59% scorei. i24%®25c: specials. 26%®27c; standards. 25‘-c. Poultrv—Market, steadv; receipts I 1 car. 31 trucks: ducks. 13® 16c: geese. 10 Mj lie; spring chickens, 25® 28c: hens. 19m 21c: capons. 25(.i28c: turkeys. 16®2Ccbroilers. 24® 25c: Leghorns. 144i18c: old roosters. 14c; fryers. 24® 26c. Cheese— Twins 18%*U3%c: Daisies. 14 vi 14 **c • Longhorns. 14® 14 %c, "Potatoes—Old stock, supplies moderate, demand good; market, firm: Idaho russet Burbanks. $26(2 20 North Dakota Earlv Ohios. $1.15. New stock; Supply moderate, demand slow. ! market steadv: Louisiana Bliss Triumph* Is 2 854(3.15; United States No. 2. $1,85-., i 2.15: Alabama Bliss Triumphs. $2.80®2.55: [United States No. 2. $1,804(1.85. Arrivals, j -6; on track. 308: shipments. 657. Other Livestock (By United Press) , LAFAYETTE. Ind , May 13.—Hogs—Msr- £**• • 170-210 lbs ?9.30(a9.40: 210;”5 lbs *9 104(9 20. 235-260 lbs. *9®9.OS : * 8 75 ® 8 90: HO-no lbs . $9 ': 9 25: 100-140 lbs.. $8.25(5 8 75; roughs. $8 tS'ln a c * lves down. Clipped lambs. ffJJ? down wool lambs. 311 down; spring lambs, 512 down.

Abreast of The Times on Finance

New York Stock Exchange Prices

'By Thomson * McKinnon) Prev. Oils— High. Low. Close, close. Amerada 93% 91*4 93Va 92 Atl Rfg 28' 27% 28 28 Earnsaall 17* 17% 17', 17** i Consol Oii ... -12 11*4 IT* 11*4 : Cont of Del . 31'4-’ 30*4 31’, 31 > 2 ' Hous'on newi . 8% 8% 8% B*r Mid Com Pet . 19 1 3 19 19*, 19% Ohio Oil . . 13’, 13 s * 13% 13 1 Pc Corp ... 12*, 12 s * 12S 13 P'illip* Pet .. 41% 41', 41 s , 41', Plymouth Oil . .. 13* 13’, 13’, 14 1 Pure 0:1 19*4 18*4 19'* 19 ! Koval Dutch .. 57 57 57 57Vi Shell un ..... 17*, 17% 17*4 17'2 Skellev oil ... 23 7 , 23 23% 23 I Soc Vac 13 \l2 % 13 12 7 a S O of Cal . .38 373* 38 38 S O of lnd . . 35% 34 ', 35'* .) ! S O Os N J . . . 6! 59'a 61 59*2 j Texas Corp .. 33>2 33 33% 33% i Tidewater Assn 16*, 16** 16% 16‘, Un Oii of Cal .23 22% 23 22*4 j NSteels—- : Am Roll Mills . 26 7 , 26' 2 26 7 , 26'2 Beth Steel .... 49 48', 48' a 48', 1 Bvers AM . . 17 16*, 17 17 Inland Steel .. 91'* 90*, 90*4 90** Ludlum Steel 25 25 25 24 7 , I Mckeesport Tin 107 107 107 107'2 ; Mid Steel 36*, .3633 5 , 36 Natl Steel . . . 60*, 60 60*, 60 Otis Steel 13 7 , 13 s , 13 s , 14'; Rep Iron & Steel 18*, 18', 18*, 18V, U S Pipe & Fdv 34 34 34 34', U S Steel . 56'/, 55'2 56'; 55’, U S Steel pfd 120‘, 120 120’, 120 Warren Bros 8 7 /, B s , B*, 8 Waren P & PUy 22’2 22>2 22' 2 22*, Motors— Auburn 28'2 27 s , 28 27*; I Chrysler 93’, 92’, 92*4 91*, I Oen Motors 62 5 , 62 62 s , 63', .Graham Mot 2 7 , 2*4 2 7 , 2*, Hudson 14 7 , 14*, 14*, 14 s , ; Na.-h 17>, 17 17', 17 .'Packard 9 s * 9'a 9'a 9'i I Reo s*, ss,5 s , 5*4 6*, Studebaker ... 11'-, 11', ll’, 11 Yellow Truck ... 18 1/ , 17 7 , 17 7 , 17 7 , Motor Acress^— Bendix 27 26*, 27 27 Bohn Alum . . . 49 48 T i 48U 48", Borg .'.'liner ... 69", 69 69", 69 Briggs 46'a 46 46'g 45 '-2 Budd Mfg 15", 15 15', 14*4 Rudd Wheel ..... 9 s , 9 s , 9", 9 s , Eaton Mfg .. 31*4 31 s , 31", 31'? Elec Auto Lite.. 34', X3", 34 33", Elec Stor Bat . 46'/, 46 46 45 s , Orevhound “B'\. 51 7 ; '49 51 7 , 48 7 , Houriaillr .... 23', 23 • 23 22", Murrav Bodv ... 15*4 15H 15*4 15'4 Stew Warner ... 18', 17", 17", 17 s 4 Timken Roll . 61 60>, 61 60 1 4 Timken Det Axle 15", 14 7 , 15", 14 7 , Mining— Alaska Jun 14'4 14 14 14 Am Metals ... 28 7 , 28 s ; 287, 28", Am Smelt 76", 75 75 s , 74', Anaconda 337,2 7 , 32*4 32", 32", Cal sic Hecla .. 10", 10", 10", 10", Cerro De Pasco . 54 s , 54 54 1 z 54 Dome Mines . . . 53 1 a 52", 53*a 53', Gt Nor Ore 17", 16", 17", 17 Howe Sound .... 51'- 51'; 5151*4 Ins Copper .... 10"; 10', 10*4 10’4 Int, Nickel ... 46 44 7 , 45", 44V* Kennecott Cop .36 * a 36 36", 35*4 Mclntyre Mine . 43", 43 43'4 42", Park Utah .. 3 s , 3 s , 3 s , 3 s , Phelps Dodge .. 33 * 2 33’, 33V, 33 St Joe Lead .. . 23 23 23 22*4 U S Smelters ... 91'2 90 91'4 89'2 Vanadium 17", 17*4 17*,4 17 s , Amusements— Crosley Radio .. 26"; 2514 26*4 25'2 Loews Inc 46'.4 46 46 */i 46 Radio Corp ... 10 1 4 9"; 10 9*4 Paramount 8 7 , B*4 8 7 4 ..8 7 , RKO 6 6 6 6 Warner Bros .. 9*4 9*4 9 s , 9 5 4 Tobaccos— Am Snuff .... 64 64 64 62 Am Sum Tob 22', 22 f, 22 !4 22*4 Am Tobacco “A" 93 * a 91V4 93*2 92 Am Tobacco "B” 94' 2 92’V, 93 ! 2 93 Gen Cigars .. . 55'4 55% 55’2 55 Lig & Myers - B’ 109 108 109 105*4 Lorillard 22*4 22*, 22*4 22*4 Phillip Morris 85 83 s , 83 7 , 85 Reynolds Tob B - 53 1 4 52*, 53'4 52*/4 Rails— Atl Coast Lines 23 23 * 23 23 Atchison 96", 69'4 69", 68'4 V <fe O 17*, 17', 17*, 17', Can Pacific 12*4 12 12", 12 Ch & Ohio 55’ 55% 55*, 55"2 C M & St P I s , I*4 1>", I s , Chi N W 33 33 Chi N W pfd ... 7'4 7", 7', 7*4 Dels & Hud 38 37 s , 37", 37 s , Del Lac & W ... 15*, 15", 15", 15 Erie 11*, 11*4 ll*/ 4 11*4 Erie pfd 17" 2 17% 17% 17", Gt North pfd 35", 34", 34 s , 34% II Central 19% 19", 19V, 19% K C Sou 21 "2 19*4 20% 19% Lehigh Valley ..9 9 9 9 Lou & Nash .... 63 63 63 62 M' K Si T ... 7% 7% 7*4 7% M K & T pfd .. 19", 19V, 19V, 19% Mo Pac pfd . 4*4 4*, 4*, 4" a N Y Cent 33*4 33% 33*, 32% N Y New Haven 3% 3", 3*4 3", Norfolk & West 228% 228% 228*, 225 Nor Pacific ... 27% 27 27Vs 26*, Penn R, R 29% 29*4 29*, * 29% Reading 39 39 3!> 39 Sou Pac 30% 30*4 30*4 30 Sou R R 14", 14 14", 14 Union Pacific 124 123 7 4 124 125 West Mary B*4 8% 8% 8% Equipments— Am Brake Shoe 44 44 44 Am Car & Fdy. 31% 31 s , 31% 30*4 Am Loco ... 25% 24 25% 24 Am Steel Fdy... 25% 23% 25% 24’., Bald Loco . ... 3% 3% 3% 3", Gen Am Tank C 44% 44% 44% 44V, Gen Elec 36 35% 35V, 35% Gen R R Sig .. 35% 35% 35% 35", Pullman Inc ... 42% 42% 42*, 42 5 , West Air Br ... 37 36 37 36% Westingh Elec.. . 107 105% 107 105", Utilities— Am & For Pwr 6% 6% 6 7 /, 6'/ 2 Am Power & Lit 9", 9% 9% 9*, AT&T .156% 156 156% 155% Am Wat Wks . 20*, 20 20% 20% Col Gas .& Elec 17% 16% 17 16", Comm & Sou .. 2% 2Va 2% 2% Consol Gas 29% 28% 28% 28% Elec Pwr & Lit 13% 13% 13% 13% Int Hydro Elec .32% 33 Interboro R T . . 12% 12", 12% 12Vi Int T & T .13% 13 13", 12% Nat Pwr & Lit . 10 9% 10 10 North Amer .. . 24% 24 24 24 Pac G & E 33% 33% 33"i 33V, Peoples Gas .. 39 39 39 38*, Pub Serv N J .. 40% 39% 39% 39% So Cal Edison . . 25 s , 25% 25 s , 25> a Stone A- Webster 16% it> 16V2 16 United Corp . . 5% ss,5 s , 5% ss,5 s , Un Gas Imp 14% 14% 14% 14% Ut Pwr & Lit 'A' 4*, 4% 4% 4% Western Union 75% 74% 75% 75 New Bond Issues (Bv Lyons & Cos.) B'd Ask Asso Tel 5s ’66 104% 105% B fr O '39 89*2 99 Brooklvn Man Tr 6%s ’66 . .. 100 Cal Ore Pwr 4s - 66 95 95*% Cent Maine 4s '6O ..102% 102% Cent 111 3%s '66 105% 103% C & O Rep and Imp 5%s ’95 99% 99% Chicago Sts 3",s '63 106% 106% Cinn Un Term 3%s ’B7 105% 105*4 Cleve Elec Illtlm 3Vis ’65 110% 111 Cleve Tractor 5s '45 104 105% Columbia Lawv P & 4s '55 105', 105% Conn River P & L 3%s '6l .104% 104% Consolidated Bd 3%s 56 ...101% 101*c Consolidated Ed 3%s ’46 103 s , 103% Consumer Power 3%s ’7O 103% 103% Cudahy Pkg 3%s ’55 100% 10(’% Cudahy Pkg 4s 'SO 101 s , 102‘/ a Duouesne Lite 3%s '65 107% 107% Eastern Gas & Elec W 4s '56. 91% 92% Edison Ilium Bost 3V a s '56 ...106% 106% lowa South Util 5%s 'SO .....101 101", Kansas P & L 4%s '6l 108% 108% Jones & Laughlin 4%s ’6l .... 98% 99 Los Angeles G&E 4s ’7O .. 105, 105% Maine Cent 4s ’45 100 Vi 100 s , Metro Ed 4s '56 107% 108 Natl Dairy 43%s '6l 101% 101% N Y Edison 3%s 3%s ’7O 101", 101% N Y Cent 3%S '46 98 98% Norway 4%s '56 95% 95", Norwav 4',s '65 100", 100% Ohio Edison 4s 68 105% 105*, Pacific Lite 4%s '45 105% 105% Pacific G A- B 3%s '6l 103*, 103", Pacific Tel 3*,s 102% 102 s , Penn R R 3%s '7O 101 101% Penn Trl 4s '56 195% 106 Tub Spry N H 3%s '6O 104 % 104*, Railway A- Lite 4%s '55 108 110 Sacuenav Pwr 4%s 'BS .... 100 San L’ego G A- B 4s 45 109 So Cal Gas 4s 65 104", 104*, So Cal Ed 4s '6O 103% So Cal Ed 3%s 45 104% 105 So Western G A- E 4s ’6O .. 102% 103% Union Pac 3%s ‘7l 99 99% V S Pipe A- Fdv 3%s '46 104% 105% Virginia Ray 2%s '66 .. . 103** 103", West Penn 3%s 69 106% 106% [West Penn 3%s 69 106% 106% Wise B A- D 3%s '65 102 102% Youngstown Sheet A- Tr 4s '6l 98% | Ygstwn Sht A- T Deb 3%s '3l 102% 102%

#RAY PATTERSON AGENCY Penn Mutual Life Insurance Company 814 Merchants Bank Building

Indianapolis Associates Rob't. I. Blalceman, Jr. J. C. McClamroch Harry E. Cast Harry W. Mason Donald Hart Mrs. Henriette Matkln Paul Hiatt J. Perry Meek Mrs. Madge Johnson George A. Newton J. C. Luplow Harry L. Orlopp Ray F. Ridge -

WEDNESDAY, MAY 13, 1936

j Rubbers—- ! Firestone 28% 28% 28% 28% Goodrich 19% 19% 19% * 19 i Goodyear 24*2 24 24% 24 IU S Rubber . 28 s , 28% 23% 28% jU S Rubber pfd 68*, 68 68', 67% i Miscellaneous—lAm Can 130’ , 129 12? 129 , Allis Chalmers 41% 40% 41", 40% iAm Mach A Fay 22 21% 21% 21*, i Anchor Cap 19 19 19 19 Brklyn Man Tr. 46% 46 46% 45", i Burroughs Add 25% 25% 25% 25% |J I Case .143 146% 146*, 146 Conti Can 72% 71", 72% 71 ! Caterpillar Tract 72 71*, 71% 71 s , ; Crown Cork ... 52% 52% 52% 52% : Curtis Pun 18% 18 18% 18 Deere & Cos . 74 Va 73 74 73 (Eastman Kodak 164% 164 164% 163 Foster Wheeler 25", 25*, 25% 25% I Gillette 15% 15 s , 15% 15% ‘ Glidden . .. 46% 46% 46’* 47 : Ingersoil Rand 108% 106% 103% 106% Int Bus Mach .. 162 162 182 162 Inter Harv 82 81 81", 81% Natl Cash Reg 23% 23% 23% 23% Owens Bottle .138% 137 137 139 Rem Rand .. 21% 20% 20% 21% Underwood E .. 87% 87% 87% 87% Foods— Am Sugar .... 52", 52% 52", 52 Armour • • 5 4% 4% 4’, Borden Prod .. 27", 27% 27V, 27% Can Drv G Ale- 11 10% 11 10% Coca Cola 87% 87V, 87*2 87% Cont Bak 'A’ ..13 13 13 13% Corn Prod 75 74 74% 74 Crm of Wheat 35 35 35 35 Cuban Am Sugar 10% 10% 10% 10% Gen Baking ... 11", 11*4 11% 11% Gen Foods .... 38 37 s , 33 38 Gold Dust .... 15% 15 s , 15% 15% G W Sugar ... 36 35 36 34% 1 Natl Biscuit ... 34 33% 33% 33% Natl D Prod .. 23% 22 s , 22% 23% Purity Bak .... 10 9’, 9% 9% N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. ! Today 90.7 90.3 104.9 95.3 Yesterday 90.8 90.3 104.7 95 3 Week ago 90.5 90.3 104.6 95.2 Month ago 91.fi 92.8 105.0 96 5 Year ago 87,5 75.8 97.7 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. close. 4%s 1947-52 117.22 117.21 4s 1944-54 112.28 112.26 3%s 1946-56 111.3 111.3 3%s 1940-43 108.21 KIB.IB 3%s 1943-47 108.5 108.4 3%s 1943-45 107.25 107.23 3", s 1944-46 107.14 107.14 3 1 ,s 1946-49 105.25 105.27 3 %'s 1949-52 105.24 ..... 3s 1951-55 104.15 104.15 3s 1946-48 ..105.1 105 2%s 1945-47 103.11 103.11 2%s 1951 102.2 102 Home Owners Loan Corp. 2 "is 1949 101.19 101.19 3s 1952 102.26 102.24 Federal Farm Mortgage Corp. 3%S 1964 104.13 104.11 3s 1949 103.2 103 3 s 1942-47 ..: 103.27 103.25 2Vis 1945 102.9 102.11 DOMESTIC Prev. Close. Close. Alleg Corp 5s ’44 94 94*4 Alleg Corp 5s '49 86 5 /, 88 Am Frgn Pow 5s 2030 72% .72% Am Tel & Tel 5%s '43 ......112% 113 Am Tel Tel 5s '65 113% 113'% Arm & Cos (Del) 4s 55 97", 97 Atl Coast Line 4s '52 96% 96 Atl Coast Line 4V2S '64 81 78% Atch Top & S Fe 4%s 48 ... 11l 111 Am Wat Wks 5s ’44 102.9 102.11 Am Rolling Mills 4%s ’45 ...113 113% Balt A Ohio 6s '95 93% 93% Balt & Ohio 4"is ’6O 69% 69% Buff Roch & Pitt 4%s ’57 .... 75 74", Beth Steel 4%s ’6O 104", 104", Chi Milw & St P '75 18 17 s , Chi Milw A*. St P 5s 2000 6", 6’, Cleve Un Term 5s '73 .107% 107% Cleve Un Term 4Vis 77 102% 102% Col Gas 5s May '52 104% 104% Col Gas 5s ’6l 103% 103% Can Pac Perp 4s 91 91% Cent Pac 5s ’6O 99*4 98% Big Four 4%s ’77 91 90% Chi A West Ind. 4s '52 103% 103% Chi A Nor West 4", is ’49 ... 12 11% Con Gas 5s ’57 103.23 103.23 Chesa Corp 5s '47 125% 125% Del & Huds 4s '43 84-, 83% N Y Dock 4s 'sl 65% 67 N Y Dock 5s ’3B 65% 61*, Erie 5s ’75 74% 74 Erie 5s ’67 74% 75 Grt North 7s ’36 100.26 100.26 Grt North 4%s ’76 101% 10IV, Grt North 4%s ’77 100% 100 Gen Stl Cast WW 5%s ’49 .. 83 83 Hud & Manhat Ref 5s ’57 .... 83*4 83% 11 Cent 5s '63 S3 82", Interntl Hv Elec 6s ’44 ... 41*4 41V2 Interntl Tel A Tel 4%s ’39 .. 89% 90 Interntl Tel & Tel 5s '55 .. 82 81% Interntl Tel A Tel 4%s ’52.. 77% 77% P Lorillard 7s '44 132 132 McKess A Rob 5%s ’SO ...104 104 Natl Dairy sVis ’4B 103 103 Natl Steel 4s ’65 105'/ 2 105V4 Nickel Plate 4%s ’7B 82 % 83 Nickel Plate s*/ 2 s ’74 93% 94 N Y Cent 5s 2013 90% 91 N Y Cent 4%s 2013 (old) . . 83% 83*/ 2 Nor Amer Cos 5s ’6l 105% 106 Nor Pac 3s 2047 81 80V, Nor Pac 4%s 2047 ....101 100*2 Nor Pac 6s 2047 111% 111 New Orleans Term 4s ’55 .. 90", 90V2 Otis Steel 6s ’4l 102V4 102*/, Penn Rv 4%s ’B4 108% 108% Penn Ry 4*is ’Bl 108",, 108"^ Penn Ry 4%s ’7O 104 103% Pac G A E os ’42 202% 1027* Portland Gen El 4%s ’6O 70% 70% Para 'Publix 6s ’55 89% 90% Penn PAL 4Vis 'Bl 106 Vi 106% Postal Tel A Cab 5s '53 30 30 Rem Rand WI 4%s '56 109% 109% Shell Union Oil 3%s ’sl 96% 96 Sou Pac 4 1 is '6B 89% 90 Sou Pas 4%s ’Bl 89 88"% I Sou Pac 4%’S '69 89 1 2 89 Sou Pac 4s '49 92% 92% Sou Rail 4s '56 58 57% Sou Rail 6s 'SB . 74% 74V, Sou Rail 6%s ’56 78 77 Sharon Stl Hood 5%s '4B 105% 103% Texas Pac 5s ’BO 103% 103 Texas Pac 5s ’79 103"; 103 Texas Pac 5s ’77 103% 103% Union Pac 4s '47 113% 113% United Drug 5s ’53 99% 99*2 U S Rubber 5s ’47 105% 105% NY NH A- Halt'6s '4B 30V, 30", NY NH A Hat 4%s 67 30% 30% Warner Bros 6s '39 92 92% Western Mary 5%s '77 107 s ; 107 Western Marv 4s '52 100 99% Youngstown S A T 5s *7n ...106.28 106.28 Youngstown S A T 5s ’7B ...105.20 105.20 FOREIGN Argentina A 6s ’57 99% 99% Argentine B 6s ’SB 99% 99% Barzil 8s ’4l 32% 32 Canadian Govt 4s '6O 108 103’/, Denmark 5%s ’55 . 101% 101 French 7s ’49 172 167 German 7s ’49 31% 32 Italy 7s ’sl 73 74 Japan 6%s ’54 97% 96% Poland 7s ’47 89*5 89% Rome 6%s ’52 . . 63% 64 Tokyo City 5%s ’6l 75% 75% New York Curb (By Atkins, "amiil A Gates) 1:00 P. M. Prev. N Y. Close. Am Cyanamid "B'' 34% 34% Am Superpower 2% 2 Ark Na.'iral Gas ’ A" 5", 6 Atlas Corp 12’ 11% Carrier Corp 8", . Creole Petroleum Corp ...... 27 5 , 27% El pc Bond A Share 17", 17% Ford Motors Canada "A" ... 22 22 Greenfield Tap A Die Corp .. 6 s , Gulf Oil Corp of Penn 82 82 Humble Oil A Refining Cos ... 58 58% Huyler's of Del pfd 20", . Hygrade Food 4% .. Int Vitamin 8% 8 Imperial Oil of Can 22 s , 21% Lake Shore Mines . 56% 56% Molydbenum Corp of Amer ... 8 8 j Pennroad Corp 4 3% • Roo" Petroleum 15*; 15 : St Regis Paper Cos 3", 3", Segal Lock 2% 2% Sonotone .. 2% 2 s , Standard Oil of Ohio 29 29 l Technicolor Inc 28% 27 s ; Wayne Pump 28% 27

: S Porto Rico S. 28", 27", 28% 27 Std Brands 15% 15% 15*2 15’, ■Up Biscuit ... 26% 26% 26% 26% United Fruit . . 74% 74% 74", 73', ; Wrigley 70 70 70 70 Retail Stores— I Allied Stores ... 11% 11% 11", 8 I Asad Dor Goods 14 13% 14 14 1 Best A: Cos . 51 51 51 51 : first Natl Sirs. 43 s * 43", 43", 43% ' Gimbel Eros ... 9% 9 9", 8% Gm Un Tea. 3% 3% 3% 3% Kresge S S ... 21", 21", 21", 21", Kroger Groc ... 23 22", 23 22 s , i Macv R H 41% 40", 41" 41", McCrory St . 12% 12% 12% 12% Marsha!! Field 15% 15", 15% 15% May Dept St . 46% 45% 46 45% Mont Ward ... 40% 39", 40% 39 s , Per.nev J C 74 73", 74 73% Safeway S ... 30% 30", 30% . I Sears Roebuck 66 64% 65% 64% [ Woolworth 48% 43 5 , 48% 48% Aviation— Aviation Corp .. 5% 5", 5% .3% P>:ng Aircft 18 17", 17", 17s, : C ss Wright 6% 6% 6% 6% , Curtiss Wght 'A' 14% 14% 14% 14 s , I Douglas Air ... 56% 55% 55% 543, Npr Am Av ... 8% 7% 7% 8% Sperry Corp 16% IC% 16% 16", Ln Aircraft new 22", 22% 22% 21% Chemicals—- : Air Reduction 59*; 59% 59 5 , 59% Allied Chem 183 188 188 188 Am Com Alcohol 24*; 24 24", 23", I Com Solvents .. 17% 17V, 17", 17% I Du Pont 140 138 139 138 Freeport Tex ... 29 29 29 29% Liauid Carb 35% 35% 35% 35% .Math Alkali .. 29", 29''i 29", 29% Monsanto Chem.. 88 87 88 86", Natl Dis inewt.. 30% 29% 30 29", Schenlev Dist 45% 44 45% 42% Tex Gulf SulDh 35% 35 35% 35% Union Carbide 80% 79 5 , 80% 79% U S Indus Alchol 47 46% 46% 45% Drugs— Cotv Inc 4% 4", 4"; 4"; Lambert 20", 20% 20% 20% Lehn A Fink.... 15% 15% 15% 15 3 B . Sterling Prod ... 69 68", 69 69 Un Drug (new).. 13 12", 13 12*; Zc.nite Prod .... 6", 6% 6% 6", Financial— Adams Exp .... 10% 10", 10% 10% [Allegheny Corp . 32% 2% 3 jAm Int Corp ... 10% in m 10 j Chesa Corp .... 64 64 64 64 | Lehman Corp .. 90% 90% 90% 89 ; Transamerica .. 12% 12% 12% 12% Tr Conti Corp.. 8% 7% 8 7*% Building— Am Radiator.... 19% 19% 13% 19'j Gen Asphalt ... 24% 24% 24", 24% Holland Furnace 31 30% 30% 30% Int. Cement . .. 45 44% 45 44% Johns Manville . 92 92 92 91 7 ; Libby Owens Gls 53 50% 53 50% Otis Elev 25% 25% 25% 25% U S Gypsum ... 84% 84 84% >B4 Ulen Cons 4% 4% 4% 4 s ; Household— Col Pal Peet .. 15*2 15 15 15 s ; Congoleum 35% 35% 35% 35% Kelvinaror 19 s , 19 s * 19% 19% Mohawk Carpet . 22 22 22 21% Proc A Gamble-. 40% 40", 40% 40% Servel Inc ... 19% 19% 19% 19% Simmons Bed ... 25% 23% 25% 25% Textiles— Amer Woolen .. 8% 7% 8% 7", Belding' Hem ... 14 14 14' 14% Ceianese Corp .. 22% 22 5 ,, 22% 22% Collins Aikman. 43 42% 43 42% Gotham Hose .. 3 7 , 8% 8% 9 Indust Rayon ... 27"; 26% 27 27% Kayser Julius ..27 27 27 27% Chicago Stocks (By Atkins. Hamill A Gates) Noon Prev. . , , . _ Chicago. Close. Associated Investors 38% 39 1 Bastian-Blessing ' 9% gr,, Berghoff 11% 11", Bruce E. L / 13% Cities Service 4% Commonwealth Edison 99 ’ '98% Cord 5 4% Electric Household ~...’ 15", 15', 2 General Household 7% 7", Jarvis Mfg 191, jgi. Katz Drug • 37% Ken-Rad T A L 10% .. Loudon Packing . 7% 7% Northwest Engineerings 20% . Zenith 18% 17',, 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 and selling inquiries or recent transactions. BONDS Bid Ask Home T A T Ft Wye SVis *55 -103 105 Home T A T Ft Wye 6s ’43... 103 106 Indnapls Railways, Inc 5s ’67 64 67 Indianpls Water Cos 4%s ’40.. 10s 108 Indianpls Water Cos 5s '6O 105 107 Indianpls Water Cos 5s ’7O ...105 107 Indianpls Water Cos 5%s 'c3..103'/4 106 Indianpls Water Cos 5%s '54..103% 106 Interstate TAT 5%s ’53 .94 97 Kokomo Water Works 5s ’58..104 105 Vi Morris 5 A 10 Stores 5s '56 .100 103 Muncie Water Works os ’65.. 103 Vi Noblesville H L A P 6 Vis '47 .101 103 i Ohio Telephone Service 6s '47. 98'/ a . . Richmond Water Wks 5s ’57.. 105 106% Seymour Water Cos 5s ’49 ...101 104 Terre Haute Tct A L 5s '44 .106 108 Terre Haute W Wks 5s ’56 .. 102 104 Terre Haute W Wks 6s ‘49... 103 105 Tct Terml Cos 5s '57 75 78 STOCKS Belt Rail AS Y Com 53% 56 Belt Rail AS Y Pfd 6s 32 . . . Central Indiana P pfd 7s ... 18 21 Home Tel A Tel Ft Wye 7s 52% 54'% Hook Drugs Inc Com ...... 17% 19 Ind A Mich Elec Cos Pfd 75... 105 108 Indiana Genl Serv Cos 6s 98 100% Indiana Hydro Elec Cos 7s 55 58 Indianapolis Gas Cos C0m.... 29 34 Indianapolis PAL ct pfd 65.. 87% 90% Indianapolis PAL Ct Pfd 6%s 91% 94% Indianapolis Water Cos Pfd .5s 102% 105 North Ind Pub Serv Pfd 5%s 62 65 North Ind Pub Serv Pfd 6s . 68% 7!% North Ind Pub Serv Pfd 75.. . 77% 80% Progress Laundry Cos Com ... 10% 12 Pub Serv Cos of Ind Pfd 6.... 20 23 Pub Serv Cos of Ind Pfd 7s 39% 42% South Ind Gas A Elec Pfd 6s 98 101 Terre Haute Elec Cos 6s . 92 94 Union Title Company Com .. 19% 21 % FOOD PLANTS EXPAND Building Awards Made in April Total $1,641,000. Times Special NEW YORK, May 13.—Awards for construction ,in food industries during April totaled $1,641,000, with $4,023,000 pending, Pood Industries reported today. Grain mill products led in awards with $824,000; beverages were second with $544,000. In pending projects, grain mill products again led with $475,000; milk products, $314,000; beverages, $301,000; canning and preserving, $264,000.

Thomson & McKinnon NEW YORK members CHICAGO N ew York Stork Exchange. TORONTO New York Curb Exchange. R(KTO\ ISeW y ° rk C° t,on Exchange. cni'TU urvn m NeW Y ° rk Coffe * Bnd S " Bar Exchange. DUlln ntiiMLl • New Orleans Cotton Exchange. FT. WAYNE I Chicago Stock Exchange. EVANSVILLE I Chicago Board of Trade. Winnipeg Grain Exchange. IndianapollS Office And other leading Exchanges. 200-214 Circle Tower LI. 5501

INCORPORATED INVESTORS —an investment in common stocks— Founded 1925 in Boston, Mass. Prospectus, latest quarterly report and other information available at our office Indianapolis Bond and Share Corporation 129 E Market St. Indianapolis Riley 4551

SWINE MARKET SHOWS STEADY TRADING RANGE Cattle, Vealers Unchanged: Lambs Also Even at $10.50 Down. Following more than a week of sharp price recessions, the pork market settled down to a steaay trading range today at the Indianapolis Union Stockyards. Both receipts and demand were around normal. Today's total supply was estimated at only 4500. compared with 6000 on hand yesterday. Holdovers numbered 250. The top price paid for good and choice weights held at $9.60. This is around anew low mark for the current year. The bulk of 160 to 225 pounds was salable at $9.45 to $9.55. Medium kinds, from 260 to 325 pounds, brought $9 to $9.20. Extreme heavies, scaling upward from 325 pounds, were salable at SB.BO to $8.90. Light slaughter pigs, weighing 130 to 160 pounds, sold at $9 to $9.50. Trading in the cattle market was j practically a continuation of the previous session with developments slow and prices mostly unchanged. | Early steers ranged from $8 down. ! Heifers were valued to sell from $7 to SB. Receipts were 1400. Vealers also were stationary. The bulk of good and choice grades sold at $8.50 to $9. Receipts numbered 600. With the total supply of 600 consisting largely of clipped grades, the lamb market showed only a slight change. Bulk ranged downward from $10.50. Most ewes were around 25 cents lower, salable from $3 to $4. HOGS May. Bulk. Top Receipts. 7. $10.20010.30 $10.35 3500 8. 9.90(5]10.00 10.05 5500 9. 9.70® 9 80 9.80 1000 11. 9.55(5) 9.65 9.65 7000 12. 9.45@ 9.55 9.60 6000 13. $9.45@ 9.55 9.60 4500 Light lights. (140-160) Good and choice $ 9.15® 9.45 Medium 8 60® 9.20 (160-180) Good and choice.. 9.40® 960 (180-200) Good and choice . 9.00® 9.40 (180-200) Good and choice.. 9.45® 9.60 Medium 9.00® 9.45 (200-220) Good and choice . . 9.45® 9.60 (220-250) Good and choice 9.35® 9.45 Heavyweights (250-2901 Good and choice . 9.10® 9.35 (290-350) Good and choice.. 8.90® 910 Packing Sows. (275-350) Good 8.25® 8 60 (350-425) Good R. 10® R4O (425-450) Gooa 7.75® ?. 15 (275-350) Medium 7.40@ 8 25 Slaughter Pigs. <IOO-140) Good and choice... 8 25® 9.25 Medium 7.65® 8.85 CATTLE —Receipts, 1400— (550-900) Choice $ 8.25 0 900 Good 7.50® 8 25 Medium 6.50® 7.50 Common 5.75® 6.50 (900-11001 Choice 8 25®) 900 Good 7.50® 7.50 Medium 6.75®) 7.50 Common 5.75® 6.75 (1100-1300) Choice 8.25®) 9.00 Good 7.50® 8.50 Medium 6.75® 7.50 (1300-1500) Choice 8.25® 900 Good 7.50® 8.25 Heifer* (550-750) Choice 8 00® 840 Good . 7.25® 8.00 -Common and medium 5 75® 7.50 '750-9COI Good and choice . 7 25® S4O Common and medium 5.75® 7.25 Cows Good 5.75® 6.25 Common and medium 5.00® 5.75 Low cutter and cutter 3.75® 5 00 Bulls, good 6,00® 650 Cutter, com. and med. bulk.. 5.70® 6.50 VEALERS —Receipts. 600— Good and choice $ B.oo® 9.00 Medium 7.00® 8.00 Cull and common 4.50® 7.00 Calves (250-500) Good and choice .. 6.00® 875 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 5.75® 7.25 Cows Good 4.75® 5.25 Common and medium 4.50® 4.75 SHEEP AND LAMBS —Receipts. 600— Lambs. 90 lbs. down: good and choice $10.10®10.50 Good 9.65® 10.25 Medium 8 75® 9.85 Common •. 7.50® 8 85 Ewes. (90-170) Good and choice .. 4.00® 4.75 Common and medium 3.00® 4.00 (Sheep and lamb quotations on clipped basis.) Other Livestock (By United Press) CHICAGO, May 13.—Hogs—Receipts. 14 000. including 6000 directs; steadv to 10c higher than Tuesdav’s average: too $9 60bulk 160-250 lbs,. 59.25'g9.55: 250-300 lb= ’ S3 10®9.50: 300-350 lbs.. $8 85®9.15; 140160 lbs.. [email protected]: sows. $8.25® 8.50: ewes. Sc.6o. Cattle—Receipts. 7000; calves. 1500: general market a little more active; steers steadv to strong, light kinds getting best outlet: supply fairly liberal: other killing classes showing little strength: most lightweiehts and heifers getting brisk action at *8.25 downward: strictly choice heavy heifers at $8.75 down; best weighty steers $9.10; several loads. $8.50®8.75: 'stockers trade very dull: bulls strong at $6 downvealers strong to 25c higher at 58®9.50selects up to $lO. Sheep—Receipts. 7000' ®*l classes steady: early bulk clipped lambs, slo® 10.25; few medium to good wool skins, [email protected]; thin clipped lambs, $9 to killers; good native springers. [email protected]. FORT WAYNE. May 13. —Hogs—Market. Steady: 160-180 lbs., $9.40: 180-220 lbs $9.30: 200-225 lbs.. $9.20: 225-250 lbs. $9 05-250-275 lbs., $8.95: 275-300 lbs.. $8.85: 300350 lbs.. $8.65; 140-160 lbs.. $9.05; 120-140 lbs.. $8.80; 100-120 lbs., $8.55; roughs, $7 75' stags, $6; calves. $6.50: lambs. sll.

Net of 316 Firms Improved First quarter praft and loss reports of 316 lead far; industrial companies show a I*2 per rent increase in composite net income, as compared with simi'ar statements for a year aqo.

CASUALTY EXPERT

. s ' .JUg Jljt

A series of six meetings, to start tomorrow, are to be held in Indiana for insurance underwriters and policy holders. They are to be addressed by Swift Ives (above) of New York, special counsel of the Association of Casualty and Surety Executives. Mr. Ives is to speak on the insurance Day program in Indianapolis May 22.

The schedule of state meetings, as announced by Joseph G. Wood, secretary and the Insurance Federation of Indiana, follows: May 14, Terre Haute, Omer O. Rhodes, chairman; May 15, Evansville, Ralph Mcßevnolds, chairman; May 18, Gary, Fred Jannasch, chairman; May 19, South Bend, W. H. Bruner, chairman; May 20. Fort Wayne, George W. Fishering, chairman; May 25, Anderson, Leo R. Dunham. chairman.

WORK STABLE IN CAR PLANTS Men Kept Busy During Dull Months By Changing Models in Fall. Times Special DETROIT. May 13. —Widespread satisfaction is being expressed by workers and executives in the automobile industry with the stabilization of employment resulting from introduction of new model cars in November rather than after the first of the year, as had been done prior to last fall. The change in models brought a rush in business that exceeded expectations of manufacturers. Forces were kept busy during the dull season of January and February by assembling motors, transmissions and other parts in advance of need, and by building up field stocks of cars. The second wave of buying, which began in March, was therefore met •with prompt deliveries and without increasing the average weekly working hours as much as had been necessary in the two preceding springs. Thus one of the major problems of the industry, wide fluctuation of employment in motor assemb- ’ plants, has been solved, according to an announcement by the Automobile Manufacturers Association. Members of the A. M. A., which includes every manufacturer except Ford, produced 388,166 cars during April, the largest number in any single month since May, 1929.

California A Y oivMOFFAT TUNNEL I Ipl MOFFAT r4t T* ninny CsMomis thru the Rodney not eround them! ||||| From the depths of speeteculer Roy el Gorge, over the top o' WiL% ffl SCEN the world t Tennessee Pess, gusrdcd by msisiv* ,Icy.piercing fs£-A WM WOB tD p?Hf pe*h! From the Atlentie to the Peeihe slope of Americs thru ] the Moffit Tunnel, under the Continents! Divide! Beeuti- ■*> full ronuntie Colo'edo River cenyon on both routes! This 1 I I ! the Scenic W*y Across Ameriee— the netion's greatest

WHEAT PRICES FIRM ON NEWS FROM ENGLAND Strong Demand for Cash Corn Continues to Be Shown. By t n itrrl Pro* CHICAGO. May 13.—Wheat traders. influenced by higher Liverpool market, turned to the buying side and prices firmed today on the Chicago Board of Trade. At the end wheat was up \ to cent, corn was off % to up % cent and rye was off ’4 to up % cent. Traders were cautious in the wheat pit as there was little in the news for guidance and the weather map was of little markc' value. The firm Liverpool market in the face of lower prices here yesterday was the guiding factor in the small advance. There was little moisture reported in the Southwest wheat belt. Small commission house buying was noted in May. Small trades on either side had considerable influence on the entire market. Earlier there was some backspreading as local traders sold July and bought, September. A little of the selling was by a house with Northwestern connections. Corn held within a narrow range during the session. There was a continued strong demand for cash corn. Buying was checked by the country reports of fine soil conditions. Rye held about steady in a featureless market. Lard held within a. narrow range. Oats were little changed in dull trading. (By United Press) IVheat— Prey. Op*>n. High. Low. Close, close. May . .92% .93% .92 92’, ?2 July . .84% .85% .84% .85% 84% Sept.. .84% .84’., .84% .84% .84 Com— May . .62% 62% .62% 62% 62", July.. .60% 60" 4 .60', .60% 60% Sept .58% .58% .58% .58% .58 , Oats— May . .26 .26", .25% 268 26% July.. .26 26% .25% 26% '25% Sept.. .26% .26% .26', .26% .26% RyeMay.. .5.7 .54 .53 .53% 52% July.. .52% .53% .52% .53 s , A 52’, Sept . .53% .54% .53% .54), ,53 s * Barley— May ,378 .57 Lard— Mav. 10%0 10.40 10.40 10.408 10 35 Julv. 10 35 10.37 10 35 10 35 10.32 Sept. 10.32 10 40 10 32 10 40A 10.40 A—Ask: B—Bid. LOCAL CASH MARKET City grain elevators are paying 85 renl* for No. 2 soft wheal. Otncr grades on their merits. Cash corn new No. 3 yellow 56 cents and oats 18 cents. (By United Press) CHICAGO. Mav )3—Cash grain Wher.t- ---! —No sales. Corn—No 3 mixed 62® 63c: No 5 mixed. 59c; No. 2 yellow, 64%® 65tic: No. 3 yellow, 62%®64c; No 4 yellow, 60%® 61c: No. 5 yellow, 58*2® file: No. 1 white. 69c: No. 2 white. 69c. No. 3 white, 68%c: No. 4 white. 65%c No. 5 white. 60'2c. Oats—No. 3 white 25%® 29c: No. 4 white. 24* 4 @25%c; sample grade. 22%@23e. Bariev—Feed. 30®48c; nominal malting. 45® 92c. Rvo—No sales. Timothy Seed—s2.7s@3. Sov Beans—No. 4. 80 cents. Clover Seed—sls® 22.50, Cash Provisions—Lard, $10.47 bid: loose $9 75 bid; leaf, $9.75 bid; leaf. $9.62 nominal: bellies. $13.12 ask. TOLEDO, May 13.—Grain close: In elevators—transit billing. Wheat—No 2 red. 95%®96%c. Corn—No. 2 yellow 67% ®6B%c. Oats—No. 2 white. 32%®33%c. Rye—No. 2. 60® 61c. Track prices—24 % o rate. Wheat—No. 2 red. 90%®91%c: No. 3 red. 88%@90%c. Corn—No. 2 yellow 63@64c: No. 3 yellow, 61®62%c. Oats—No. 2 white. 29@31c; No. 3 white. 25@30c.

FOUNTAIN PENS, PENCILS Sold and Repaired THE PEN HOSPITAL 141 E. Washington Rhone for Service RI-1888