Indianapolis Times, Volume 48, Number 59, Indianapolis, Marion County, 19 May 1936 — Page 16

Trends Indiana’s Old - Age Payments Draw Comment. BY JOHN T. FLYNN

TT7ASHINGTON. May 19. Many fctates are adopting old-age assistance laws in accordance with the new Federal Social Security Act. To date 32 states have passed such laws. This looks like a good record. But when you examine it you are a little taken aback by the old-age Benefits which some states propose to pay.

Many states, of course, propose to pay from S2O to $25 per month to old people. But a state like Indiana will pay $14.50 a month. This is truly a small amount. But Alabama will pay only SB. One might well wonder how any human being anywhere on this continent can manage to exist on $8 a month. But

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Flynn

Mississippi presents its aged with an even more insoluble problem by proposing to grant them an average of $3.50 a month. Os course the states will not pay all of this. The Federal government v/ill put up half of it under the new act. Hence Mississippi proposes to contribute to its aged citizens the magnificent grant of $1.75 a month. I am not certain about the figures but I believe most places, Including Mississippi, do far better for their prisoners. After providing them with shelter and clothing there is usually an allowance of not less than 30 cents a day or $9 a month for food alone, bought and prepared upon a mass basis. u a ONE explanation of these meager grants by states is that the states simply have not got the money. The comment on that must be that it is both true and false. The states have the money, but not for social insurance. Os course this does not apply to all states. But most of them are so heavily in debt that their resources are being consumed by the payment of interest Credit is the wings upon which communities fly upward. But in mid-air the wings of credit become dead weights of debt. The states in the years after 1921 went in for all sorts of expansion and improvement on a vast scale. But they did not pay for those improvements. They borrowed huge sums. Now they owe those sums. One state which had a debt of $13,000,000 in 1920 has a debt of more than $200,000,000 now. That state has to pay out every year $8,000,000 in interest at the very least. Therefore, it can afford to pay only $4 a month to its indigent old people, while the Federal government gives them another $4. u tt tt IN answer to every demand upon states in the future--the demand for schools, for nublic services, for roads, for health and cultural and welfare activities—this cry of “no money’’ will be heard. It means no money for anything because the money must go to service old debts—debts incurred to pay for the prosperity of 1923 to 1929—that fatal prosperity whose debts hang around our necks now like millstones. It is about time we turned our thoughts to this question of our state and county and city debts. We must sooner or later face them or halt all progress in the development of the social services. (Convrlght 1936. NEA Service, Inc.l RFC LOANS IN STATE TOTAL $59,089,177 Agency Authorizes $74,209,547 t<i Indiana Enterprises. Since the establishment of the Reconstruction Finance Corp. ir 1932, loans have been authorized in Indiana totaling $74,209,547, Clarence Manion, National Emergency Council state director, disclosed today. Os the amount r.uthorizec $59,089,177 had been distributed tc borrowers up to March 1. 1936. Mr. Manion said these figures include loans to banks, trust companies, building and loan associations, insurance companies, receivers oi liquidating agents of closed or insolvent institutions, and direct loans to industries. The breakdown for Indiana .does not include loans of the following type: To Federal land banks, tc Federal intermediate credit banks to region agricultural credit corporations, to railroads, loans for refinancing exports of agricultural surpluses, to commodity credit corporations and amounts made available for relief work.

CLEARING HOUSE NAMES A. V. BROWN, PRESIDENT Local Association Holds Annual Election. Members of the Indianapolis Clearing House Association met this morning and elected A. V. Brown president. Mr. Brown is president of the Indiana National Bank. Other officers named were: Vice president, J. p. Frenzel Jr., Merchants National Bank president; treasurer, I. W. Lemaux, Security Trust Cos. president, and the secretary and manager, George C. Calvert. F. C- Dickson, president of the Indiana Trust Cos., and Evans Woollen Jr., president of the Fletcher Trust Cos., were elected members of the standing Clearing House committee of which the association's president is ex officio member and chairman. Produce Markets The prices quoted are paid for stock fathered in the country, while oeliverei n Indianapolis the price is a cent highe/. Heavy bleed hens, 16c; Leghorn bre.td hens. 14c; colored sp-ingers. 2 lbs and up. full leathered. 21c; Leghorn springers lb pounds and up, futl feathered. *Bc; bareback broilers, heavy type. 13c: eld cocks. 9e; ducks, white. 5 lbs. end over. Tc; jeeae, full feather, all sizes. Sc; til guineas. IV> Vzz. and up. 15c: No. 1 strictJv fresh eggs loss off. l?c; delivered In Indianapolis. 18c Bach full case must weigh 55 lbs. gross; a deduction of 10 cents a pound under 55 lbs. will be made. No. \ bu!,*r. 20 i *®3OVae; No. 2. 28Va2T,iu. BmWlat, 250,

♦ 4 Abreast of The Times on Finance 4 4

PAGE 16

INDIANA TRADE VGLUME NEARS LEVEL OF 1930 Gains Made Consistently in Most Business Lines, Data Reveals. BY MARK OGDEN i Indiana business has revived to ; a point near the 1930 level. This recovery has been gradual, but in most lines gains have been made consistently, month by month. And, judging by a mass of available data and by the expressions and plans of the state’s industrial leaders, further improvement is to be expected. These conclusions are inevitable after a study of building permit totals, bank clearings, motor licenses, relief roll figures, real estate transfers, new and used automobile sales, carloadings and numerous other records always considered essential | in computing trade indices. Building Ahead of 1930 Building permits issued in Indianapolis between Jan. 1 and May 9, 1936, amounted to $2,033,794 as compared with $993,050 in the same period of 1935. According to the Indiana University Bureau of Business Research, building activity in the state is running ahead of that recorded in 1935, and in 1930 as well. The March index for this 1 year stands at 114.3; for March, 1935, at 23.8, and for March, 1930, at 83.1. Indianapolis industries are mani- j testing their confidence in the future through extensive improvement programs. The Indianapolis Chamber of Commerce recently issued a bulletin containing the following information: "New and expanded industrial enterprise within the last nine months represents additions to pay rolls cf $2,000,000 annually. The list of expansions includes: Steel Plants Reopen "New plant and enlargement of Allison Engineering Cos., a division of General Motors Corp. "Complete rebuilding and doubling capacity of Chevrolet commercial body division of G. M. C. "Removal of Fairbanks - Morse Home Appliance, Inc., to the Indianapolis plant of the parent company. "Reopening and modernization of Chapman-Price division of Continental Steel Cos. "Reopening of Stutz Motor Cos. for manufacture of Pak-Age cars. "Enlargement of plants of Armour & Cos., Republic Creosoting Cos., Schwitzer-Cummins Cos., J. D. Adams & Cos., Link-Belt Cos. and Basca Manufacturing Cos. "Opening of a number of smaller new industries, including Melba Hat Trim Cos., Scientific Oil Corp., ana Universal Foods Cos.” Bank Clearings Grow Bank clearings in Indianapolis are | running about 15 per cent higher I than during the first four months of 1935. Bank debits last March in the city were $158,879,000 as compared with $142,734,000 in the corresponding month of 1935. The Indiana University Bureau index figures for bank debits in the state show: March, 1936, 95.6; March, 1935, 81,r and March, 1930, 123.2. During the first quarter of the current year Indiana issued 620,748 passenger car licenses. For similar periods in 1935 and 1930 the figures were 560.526 and 621,950, respectively. Nearly 3000 more truck licenses were issued in the first thre * months of this year than in the like period of 1930. A few more bus tags also were issued this year. It is interesting to note that only 231 tractor licenses were written in the 1930 quarter, but that 4310 were granted in the first three months of this year. Relief Rolls Dwindle Persons taken from relief largely were transferred to WPA projects and the true value of reduced relief roll figures in measuring the progress of recovery is difficult to judge. One source states there were 3500 fewer relief cases in the state last month than there were ;n April, 1935. Real estate transfers in Indianapolis numbered 899 in April, 1935, and 1036 in the same month this year. March and April this year saw probably the largest number of new automobiles sold in any other months in the history so the city. There were 2627 sold in March and 2639 in April, an increase of about 40 per cent over the same months : in 1935. The I. U. Bureau of Business Research charts the comparative new and used car-sales in the state with index figures as follows: New—March, 1936, 126.0; 1935, 107.3; 1930, 130.9. Used—March, 1936. 108.6; 1935, 106.2; 1930, 125.5. Unlisted Stocks (By Blyth ft Co.l NEW YORK BANK STOCKS Bid. A*k. Bankers Trust 55% 57 1 a Central Hanover ...108 110 Chase 36*, 38% Chemical 52 s , 54% Guaranty 288 291 V Irving 14’* 167. Manufacturers 47’, 49*-, National City 32% 3414 Cont 111 Chicago 143 146% First National Boston 44 s * 46 National Shawmut 261, 28'* FIRE INSURANCE Aetna Fire Ins S5 57 M American inc of Newark 14 s * 18S Baltimore American 8% 9% City of New York 28 28 Federal Ins 45 49 >4 Prinklin Fire 32 '4 34'* G’eat American Ins 28 29 s , Hanover 39 s * 41 s , F.artford Fire 75' 77'* Home Ins 36>* 37’, .ns Cos of A 74 761* National Fire 72’* 74'* National Libtrtv 9’,1I s , North Liberty 25'* 27'* Phoenix 88% 90% U S Fire 521* 54 > 2 Westchester Fire 35 37 FRUITS AND VEGETABLES (By United Press) CHICAGO, May 19.—Apple*—Willow twigs, bu., 31.25. Carrots—lllinois, bu„ 35 (it 30 c. Sweet Potatoes—Tennessee, bu. *l. low 1.15. Cabbage—Mississippi lettuce, crates. 31.50® 160. Spinach—lllinois, bu., 24°0. Tomatoes-Florida, lugs, tUz 3.50. Cauliflower—California, crates. 31.60 . Peas—California, bu. hampers. *i-25g1.40. Lettuce Western, crates. •2,254} 2.50. Celery—Florida, crates, 32.25 5.3,75. Onlotv Market—Texas white wax. 604495 c, Bermuda, 803 85c,

New York Stock Exchange Prices

Sales approximated 910,000 shares, against 990,000 yesterday. Curb sales; were 207,000 against 224,000 shares; | yesterday. Dow-Jones averages (preliminary) : Industrials 147.49, off 2.86; rails 44.06, off .88; utilities 29.76, off .65. (Bv Thomson Ac McKinnon) Prev. Oils— High. ,'jow. Close, close. Amerada 94 89 89 94% Atl Rfg 23'j 27 s * 27 s * 29 Barnsdail 17 16 s , 16 s * 17V, Consol Oil 12 s * 12V, 1214 13 Cont of Del 31 29‘4 29'* 3I S Houston (new).. 814 8% 8V 8 3 /* | Mid Cont Pet.... 19'.* 18 s , 18 s /, 19'/a | Ohio Oil 13V* 12 s , 12 s /* 13V* i Pel Corp 13 12!a 12Va 13% Philips Pet 41 39 39 41 Va Plymouth 0i1.... 14% 13 s /, 14 14V, Pure Oil 18% 17% 17% 18 s /* j Seaboard Oil 33 31 s * 31 s * 33% Shell Un 17'4 16% 16'4 17% ! Skelley Oil 24'/, 23% 23’a 25% Soc Vac 12’/, 12 s /, 12% 13 S O cf Cal 37'/ 2 36 36 37% SO of Ind 34 'a 33% 33% 34% S O of N J 59% 57 V, 57% 60'/, Texas Coro . ... 33% 32'/, 32% 33% Tidewater Assn . 16% 15% 15% 16% Un Oil of Cal .. 23 22V, 22% 23% Steels— Acme Steel 61 61 61 61% Am Roll Mills . .. 26% 26 26 27% Beth steel 50% 49 49 50 I Bvers A M 17V, 17'/, 17V, 18% ; Cruc Steel 30 30 30 32 : Inland Steel 91% 90 91 92 1 Ludlum Steel . .. 24% 24 24 25% I McKeesport Tin 107% 107% 107% 108 Mid Steel 38 36% 36% 38% Natl Steel 60V* 59 59 60V, Otis Steel 14% 14 14% 15 | Ren Ir ft Stl 19% 18% 18% 19% U S Pine Ac Fdv 36% 36 36% 36% ! U S Steel . 57% 55% 56% 57% !u S Steel pfd .120 118% 113% 120% I Warren Bros .. 8% 8% 8% 8% ! War PiD Ac Fdv 22 22 22 22% ! Youngstn SAc T 52% 51% 51% 53 Motors— Auburn 30 29 29 30% Chrysler 93% 92'/, 92% 94 Gen Motors .... 61% 60% 60% 62V, Graham Mot ... 2% 2% 2% 2’/, I Hudson 14% 14V, 14% 14% I Mack Truck 29% 29V, 29V, 30% Nash 17% 17 17% 17'/* Packard 10% 10'/* 10*/* 10% j Reo 5% 5 5 5V* Studebaker 11% 11 11 11% ! Yellow Truck .. 18 17'/* 17% 17% Motor Access—i Bendix 27’/, 27'/, 27% 28 j Borg Warner .. 71 69% 69% 71% Briggs 47 46 46V* 47% i Budd Mfg 14’/, 14% 14% 14% i Budd Wheel ... 10 9% 9% 10% Eaton Mfg 32% 31% 32 32% AREA ACTIVE IN HOME FINANCING More Funds Available, Says Bank President. Building and loan associations of Indiana and Michigan are more active in home financing projects than is true of the institutions of this type in the country as a whole, according to records compiled in Washington by the Federal Home Loan Bank board. These records show that 82.4 per cent of the associations in the two states served by the Indianapolis Federal Home Loan Bank are actively making loans while the national figure is 74.8 per cent. March figures indicate that the monthly volume of leans negotiated in Indiana and Michigan is only slightly below three million dollars a month. Can Handle More Loans Funds are available to increase this monthly total, according to Fred T. Greene, president of the Indianapolis Federal Home Loan Bank, who says; “There is no longer any need to delay in borrowing adequate funds to restore neglected homes, or to buy needed homes for families crowded together during the depression. Funds are available in the local associations and in their reserve funds in this bank to meet the borrowing needs of home owners in Marion County.” Money already borrowed through member associations, Mr. Greene explains, have been used as follows: 30.5 per cent for refinancing; 21.8 per cent for home purchase; 16.7 per cent for new construction; 11.2 per cent for repairs and reconditioning. and 19.8 per cent for other but kindred purposes. Local Securities - (By Indianapolis Bond and Share Corn.) The following auotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inauiries or recent transactions. BONDS Bid. Ask. Home T As T Ft Wve 5%s ’55 .103 105 Home T &■ T Ft Wye 6s ’43 . 103 106 Indnapls Railwavs. Inc 5s ’67 65 68 Indianpls Water Cos 4%s ’40.. 106 108 Indianpls Water Cos 5s ’6O 105 107 Indiapls v. ater Cos 5s ’7O .105 107 , Indiapls Water Cos 5%s '53 ..103% 106 Indianpls Water C’o 5%s 54 .103% 106 Interstate T & T 5%s ’53 .. 95% 98 Kokomo Water Works 5s 'SB .104 105 Morris 5 At 70 Stores 5s 'SO .100 103 Muncie Water Works 5s '65 .103% Noblesville H L ft P 6%s ’47 .101 103 Ohio Telephone Service 6s 47 99% Richmond Water Wks 5s '57 .105 106% Seymour Water Cos 5s ’49 ...101 104 Terre Haute Tct & 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 A: S Y Com 53% 56 Belt Rnil & 8 V Pfd 6s 32 Central Indiana P pfd 7s .... 16% 19% Home Tel ft Tel Ft Wve 7s ... 52% 54 Vi Hook Drugs Inc Com 17% 19 Ind & Mich Elec Cos pfd 75... 105 108 : Indiana Genl Serv Cos 7s 98 100% I Indiana Hydro Elec Cos 7s ... 53% 57 Indianapolis Gas Cos Com ... 29 34 Indianapolis P & L c; pfd 6s . 88 91 j Indianapolis P Ac L ct pfd 6%s 92 95 i Indianapolis Water Cos pfd 5s .102% 105 I North Ind Pub Serv pfd s'is . 65% 681/ I North Ind Pub Serv pfd 6s . 69% 72% 1 North Ind Pub Serv pfd 7s 79% 82% Progress Laundry Cos. Com . 10% 12 ; Pub Sew Cos of Ind Pfd 6s . 18% 21 Vi Pub Serv Cos of Ind Pfd 7s 38% 41% South Ind Gas A: Elec Pfd 6s 99 102 Terre Haute Elec Cos 6s . 92 94 Union Ti/le Comnanv Com ... 19% 21% Investment Trusts (By Thomas D. Sheerin & Cos.) Bid. Ask. : \dministered Fund 2nd .... $15.95 $16.97 j Affiliated Fund. Inc . .. 1.77 1.95 American General Equities.. 1.00 1.02 ‘American Business Shares.. 1.09 1.19 Bullock Fund Ltd 17.05 18.50 Broad Street Investing 28.43 30.41 Centurv Shares Trust 36.22 28.20 Collateral Tr. Shares “A” 6.32 Corp. AA’ or Accum’ imod.t 3.24 3.28 Corp ‘AA’ or ‘ACC’ tunmocL) 2.61 2.64 Corpt Trust Shares (orig.i .. 3.68 2.72 DlversifiedWTustee Shrs ’B’ . 10.05 10.15 Diversified T-ustee Shrs ‘C’. 4.36 4.40 Diversified Tru.'ee Shrs *D'.. 6.60 6.70 Divend Shares, .'nc 1-56 1.71 General Investors Trust .... 5.72 6.28 Incorporated Investors 21.20 22.84 Investors Fund Amer 1.01 1.11 Market St Investment Corp.. 39.33 30.87 Maryland Fund 18.40 19 92 j Massachusetts Investors 24.80 26.14 | Nation-Wide Sec Cos B’ 4.19 : Nation-Wide Voting 1.69 1.83 I North Am Th Shrs 1955 3.25 3 28 I North Am Tr Shrs 1956 3.21 3 24 ; North Am Tr Shrs <orig.) ... 2.48 ; Quarterly Income Shares .... 1.51 1.67 'Selected Am Shares, Inc ... 1.51 1.64 ! Selected Am Shares 10r1g.)... 3.53 Selected Cumulative Shares . 9.18 9.28 Selected Income Shares 4.78 4.88 State St Investment Corp. 96.00 101.00 Super-Coro of America AA’ 275 279 Buper-Corp of America BB’. 2.79 282 Super-Corp of America ’A’.. 4.07 4.12 Super-Corp of America B’.. 4.26 4.31 Super-Corp of America 'C' . 7.93 Supervised Shares. Inc. (Dela) 12.75 13.9* Trustee Stand. Otl Shares A’ 6.91 7.01 ”\ustee Stand. Oil Shares ‘B’ 6,03 6.13 Trustee Stand Investment 'C 2.89 3.93 Truste Stand Investment ‘D’ 3.83 2.86 United Standard Otl Fund; . 1.18 1.31 Uselps ’A’ 17.75 18.10 Uselps ’B’ J. 71 Uselps oVtlng 1.04 •fix-Dividsad. /

TUESDAY, MAY 19, 1936

Elec Auto Lite., 35 33% 33 5 , 35 s , Elec Stor Bat 46% 46 46 46 5 , Greyhound "B.'* 55 55 55 56V, Houdaille 23% 22% 22% 24 Murray Body ... 15 s , 15V, 15% 18 Stew Warner ... 18% 17% 17% 19% Timken Roll . . 61% 60% 60% 62 Timken Det Axle 16 15% 15% 15’, Mining— Alaska Jun .... 14% 13 s /* 13 s * 14% Am Metals 28% 28% 28% 29% Am Smelt 75% 75% 75% 77 % Anaconda 33% 32% 32% 33% Cal ft Hecla ... 11 10% 10% 11 Cerro De Pasco. 54% 53% 53 s * 55 Dome Mines ... 57% 56% 57% 56% Gt Nor Ore ... 16% 16% 16% 16% Homestake Min. 47~ 477 477 499 Howe Sound ... 52 51% 52 52% Ins Copper 10% 9% 9% io% Int Nickel ... 46% 43 s * 45% 46% Kennecott Cop.. 36% 35% 35% 37 Mclntyre Mine.. 44'/, 43% 43 s , 43% Park Utah 3 s , 3% 3% 3% Phelps Dodge 33% 33V* 33% 34% St Joe Lead 23% 23 23% 23% U S Smelters 90% 90 90% 91% Vanadium 18 17% 17% 18% Amusements— Croslev Radio .. 25% 25 25V* 26 Loews Inc 47 % 45% 47% 47% Radio Corp 10% 10% 10% 11 Paramount .... 8 s /* 8% Bs/*8 s /* 8% RKO 6 6 6 6V Warner Bros .... 9% 9*4 914 9 % Tobaccos — Am Snuff 64% 84% 6414 64'% Am Sum Tob 23% 23% 23 V* 23% Am Tobacco “B“ 92% 91V* 91V* 93 Gen Cigars . . 56V* 56V, 561* 561* Lig ft Myers ‘B’ 108% 107% 108 108 Lorillard 22% 221* 22% 22% Phillip Morris 81 79% 79% 81 ' /a Reynolds Tob 'B' 53% 53% 53% 53% Rails— Atchison 70% 69% 70% 72% Atl Coast Line . 24 23% 23% 23% B A: O 17V* 16% 16% 18 Can Pacific .... 12% 12V* 12% 12% Ch ft Ohio 56V, 56 56 56% CM&StP IV* 1% 1% I s /* C M * St P pfd 3V* 3V* 3V* 3% Dela ft Hud ... 39 38V, 38V, 40% Dei Lac & W ..16 15% 15% 15% Erie 12V* 12V* 12V, 12V* Erie pfd 18V, 17 s /, 17% 18% Gt Northern pfd 3514 34% 34% 35V, 111 Central 19% 19% 19V, 20 K C Sou 19V, 19% 19 s /, 20 Lou ft Nash ... 66 65 65 66'% M K & T 7% 7% 7 s /, B'/a M K & T pfd.. 20 20 20 20Va Mo Pac pfd .... 4'% 4% 414 4% N Y Cent .. ... 34% 33% 33V* 34% N Y Ont & West 4% 4% 4% 4 % Nor Pacific 27% 26% 26% 27% Penn R R 30 29 V, 29 V, 30 % Sou Pac 31V* 29% 30 31% Sou R R 14% 14 14 14% Union Pac 125% 123 12314 125'% Wabash 33 3 West Maryland.. 814 BV, BVs 9 Equipments— Am Brake Shoe . 44 43 43 Am Car & Fdy.. 32% 31% 31% 33 Amer Loco .... 25*% 25% . 27V, Am Steel Fdy.... 26% 25% 261* 27va Bald Loco 3 s /, 3% 3% 3% Gen Am Tk Car 47% 46% 46% 47% Gen Elec 3614 35% 36V, 36% Gen R R Si? 3514 35 35 36 Pullman Inc .... 44 43 43 44*% West Air Br ... 37 3614 36V, 38% Wcstingh Elec ..110% 1091a 109% 112 Utilities— Am As For Pwr,. 7% 7 7 7V Am Pwr & Lit.. 10% 9% 10 10% A T As T 160 158% 158% 161 V. Am Wat Wks ... 21 Vi 20% 20% 21% Col Gas As Elec 18% 18V, 18V, 18% Com As Sou 32% 2% 3 Consol Gas 30V, 29V, 29'% 30Va Eiec Pwr As Lit.. 14'% 14 14% 14% Int Hydro Elec . 3V, 33 3 V*’ Interboro R T.. 12V* 12V* 12V* 12% Int T As T 13V* 13'/ 13% 13% Nat Pwr As Lit.. 10% 10 10 10'% North Amer ... 25% 2414 24'% 25 s /, Pac G As E 35V* 35 35 35% Peoples Gas .... 40 38% 38% 41 Pub Serv N J... 40% 40V* 40% 41% So Cal Edison... 26V* 26 26 26V* Std Gas 6% 6% 6% 6V, Stone As Webster 17 16V, 16% 17 N. Y. Bonds DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. Today 90.8 90.8 105.2 95.6 Yesterday 90.7 91.4 105.3 95.8 Week ago 90.7 90.3 104.9 95.3 Month ago 91.3 91.7 105.0 96.0 Year ago 87.3 77.0 97.3 87/4 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 As Paine) Prev. Close close Treasurys 4s 1944-54 113.3 113.3 3%s 1943-47 108.14 108.10 3Vis 1941-43 109.1 109.1 3%s 1943-45 108.2 108.1 3V,s 1946-49 106.7 106.5 3s 1951-55 i 104.25 104.22 3s 1946-48 105.15 105.12 2%s 1945-47 103.20 103.19 2%s 1951 102.9 102.10 Howte Owners Loan Corp. 2%s 1949 101.25 101.27 3s 1952 103.1 103.2 Federal Farm Mortgage Corp. 3s 1949 103.10 103.6 3s 1942-47 103.30 104 2%s 1945 102.15 102.14 Prev. issue. Close, close. DOMESTIC Alleg Corp 5s ’44 93 93% Alleg Corp 5s ’49 86 86% Am Frgn Pow 5s 2030 72 73 Am Tel As Tel 5%s ’43 113V* 113 V, Am Tel As Tel 5s '65 114 113'% Arm As Cos (Del) 4s ’55 97% 97% Atl Coast Line 4s '52 96% 96% Atl Coast Line 4%s '64 79 78% Atch Top As S Fe 4%s ’4B ..114% 110% Am Wat Wks 5s '44 102.*% 102% Balt As Ohio 6s ’95 94% 95 Balt As Ohio 4*%s ’6O 68% 70*% Buff Roch As Pitt 4*%s ’57 .. 76 76% Beth Steel 4%s ’6O 105*% 105'% Chi Milw As St Pss ’75 18 " 19 Chi Milw As St Pss 2000 .. 7 7'% Cleve Un Term 5s '73 107% 108 Cleve Un Term 4'is ’77 102 V, 102% Col Gas 5s May '52 105 104'% Col Gas 5s Anril ’52 104% 105% Col Gas 5s ’6l 104 104 Can Pac Perp 4s 91% 91,1 Cent Pac 5s ’6O 99% 199 Big Four 4Vis ’77 91% 92% Big Four 5s 63 98% 98 s /, Colorado As So 4*%s ’BO 70% 71 Chi As West Ind 4s '52 103% 103% Chi ft West Ind 5*%S ’62 106% 106% Chi As Nor West 4%s ’49 ... 12 12 Con Gas 5s '57 ... 103.20 103.20 Chesa Corp 5s ’47 126 128% Dodge Bros 6s 40 84 N Y Dock 4s ’sl 66% 66% N Y Dock 5s ’3B 66% 66 Erie 5s <5 7*l/ Erie 5s ’67 .W. 75% 76% Gen Cable s'%s '47 105 104% £ rt Northern 7s ’36 100.22 100.22 Grt Northern 4%s ’76 .100% 101% Grt Northern 4%s '77 100V* 100', Gen Stl Cast WW 5%s ’49 .. 82 82% Hud As Manhat Ref 5s ’57 . . 82'% 82% 111 Cent 4%s 'i?6 71% 73% 111 Cent 5s ’63 82% 83 Interntl Hy Elec 6s ’44 . . 40% 41% Interntl Tel As Tel 4%s ’39 . 92% 93-, Interntl Tel As Tel 5s ’55 ... 34 85 Interntl Tel As Tel 4%s '52.... 80% 80V* P Lorillard 7s ’44 . 132** 132 McKess ft Rob 5%s 'SO 103'/* 103V* Natl Dairy 5%s ’4B 102.28 102.29 Natl Steel 4s '65 106V* 106*, Nickel Plate 4%s '7B .... 83 83% Nickel Plate s*%s '74 93% 94'% N Y Cent 5s 2013 91% 92% N Y Cent 4%s 2013 (old) 84’, 85% Nor Amer Cos 5s ’6l 106 106'/* Nor Pac 3s 2047 80% 81 Nor Pac 4%s 2047 101% 100% Nor Pac 6s 2047 110% 111V* Nor States Pow 5s ’4l 104% 104% New Orleans Term 4s ‘55 90% 90% Otis Steel 6s ’4l 102'* 102% Penn Ry 4%s 'B4 109% 109% Penn Ry 4%s ’Bl 109V* 109V* Penn Rv 4%s 70 104% 104'% Pac O ft E Ss *42 102% 102% Portland Gen El 4%s '6O 71% 72% Para Publix 4%s '45 90 90 Penn P ft L 4%s 'Bl 106% 10SV* Postal Tel ft Cab 5s 53 29% 30% Rem Rand WI 4%s '56 109% 108% Shell Union Oil 3%s ’sl 96% 96' . Sou Pac 4%s ’6B 91% 92 Sou Pac 4%s ’Bl 90% 90% Sou Pac 4%s ’69 90% 91% Sou Pac 4s ’49 92% 93 Sou Rail 4s ’56 58 59 Sou Rail 6s ’56 74% 75V* Sou Rail 6%s ’56 77 78 Sharon Stl Hoop 5%s ’4B 106% 105% Texas Pac 5s ’BO 105 1 04% Texas Pac 5s ’79 104% 105% Texas Pac 5s ’77 105% 105% Union Pac 4s ’47 114*, 114% United Drug 5s ’53 !100% 100% U S Rubber 5s ’47 105% 105% NY NH At Hart 6s ‘4B 29% 31 NY NH At Hart 4%s ’67 30% 30% Warner Bros 6s ’39 90 s , 92% Western Mary 5%s '77 107** 107 Western Mary 4s S3 100% 100% Youngstown S At T 5s *7O 106.28 106.28 Youngstown S ft T 5s ’7B 105.17 105.17 FOREIGN ; Argentina A6s ’57 99% 99% I Argentine B6s ’SB 99’, 99% Brazil 8s ’4l ...... 33% 331, 1 Canadian Govt 4s ’6O 108 108 ’ German s Vis TSS 23 33 i German 7s ’49 24% 30 'Japan 6%s ’54 97% 98 Poland 7s ’47 8 4% 8% Tokyo City 5%s ’6l. 83 82 j Yokohama 6s ’6l 83 82

BU FILES loifal Su PP lies - HfiwJ Guides and Folders K? W. C. Brass Bi; ° and Associates 134 S. Mer. RL 9727

United Corp 8% 6 6'% 6% Un Gas Imp 15% 15 15 IS'/* Ut Pwr At L “A’’ 5 4% 4% 5 Western Union.. 77'% 76 76V, 78'% Rubbers— Firestone 28% 27% 27% 28% Goodrich 19’, 19% 19V* 20 Goodyear 25% 24V* 24’, 25% TJ S Rubber 29 s /, 28V* 28% 30 U S Rubber pfd 72V* 70 70 % 72% Miscellaneous — Allis Chalmers .. 42 41'% 41% 43 Am Can 128 126 126 129% Am Mach At Fdy 22 s ; 22% 22 s ; 22% Anchor Cap .19 V, 18% 18V, 19% Brklya Man Tr. 46% 46 46 46% Burroughs Add . 26’, 26'% 26% 26V* J I Case 150 147 147% 153 Conti Can 73 70% 70% 72% Caterpillar Tract 73% 73 73% 75 Crown Cork 53 s , 52% 52% 54 Curtis Pub 18% 18 18% 18% Deere At Cos 75 V* 75 75 78'% Eastman Kodak 162'* 162 162V* 166 Foster Wheeler.. 26 26 26 27V* Gillette 16 15% 16 16V, Glidden 46% 46% 46'% 471* Ingersoll Rand .115 115 115 115 Int Bus Mach .167 166'% 166'% 168 Inter Harv .. 83V* 81% 81% 84 Natl Cash Reg.. 23'% 22% 22% 23% Owens Dottle .144'* 144 V, 144V* 145 Rem Rand . ... 21V, 22 21% 21% Underwood E .. 85% 85'% 85% 86'% Foods— Am Sugar 54 53% 53% 54% Armour 5 4% 4’, 5 Beatrice Cream. 21'/, 21 21 22 Borden Prod ... 27 s /* 27'/* 27'/* 27% Cal Packing . ... 31 31 31 31V, Can Dry G Ale. 11% 11% 11% 11% Coca-Cola ..92 91 92 93% Cont Bak“A”.. 13% 13% 13% 14% Corn Prod 76 V, 75 V, 75V* 76 V* Crm of Wheat .. 35% 35'/, 35V* 35V* Cuban Am Sugar 10’, 10% 10% 11 Gen Foods 38% 38V, 38% 38% Gold Dust 15% 15% 15% 15V, G W Sugar 36% 36 36 36% Natl Biscuit 34% 34 34 34% Natl D Prod 23% 22’/, 23% 23'% Purity Bak 10V* 10% 10% 10% S Porto Rico S. 28 V* 28% 28'/* 28 s /., Std Brands 15 s /, 15V* 15 s /, 15 s /, Un Biscuit . ... 26V, 26V, 26V* 26% United Fruit ... 76% 75% 75% 76V* Wrigley 67 5 /* 67% 67% 67 Retail Stores— Allied Stores ... 8% 8% 8% 8% Assd Drv Goods. 14% 14Vi 14'/* 14% First Natl Stores 43% 43V* 43% 43% Gimbel Bros ... 9 s /, 9% 9% 10 * Om Un Tea 3 s /a 3% 3% 3% Jewel Tea 70V* 70 70 70% Kresge S S 21 % 21 21% 21% Kroger Groc ... 22% 22% 22% 22’/, Macy R H 40% 40% 40% 41 McCrory St ... 12V* 12% 12% 12% Marshall Field.. 15'% 15 15V, 15'% Mont Ward 41% 40V* 40'% 41% Denney J C ... 77% 76% 77V, 76V, Safeway St .... 31 30’/, 301% 31 Sears Roebuck. . 67'/, 66'% 66 s , 67% Woolworth 49% 49% 49% 49% Aviation— Aviation Corp... 5% 5V* 5% 5% Boeing Aircit,., 18V* 18 18 Vi 18% Curtiss Wright, . 6% 6V, 6V, 6% Curtiss Wright A 15V, 14% 14% 15V* Douglas Air 55% 54V* 54'% 56V, Nor Am Av 7% 7% 7V, 8 Sperry Corp . . 17% 17V, 17% 17% United Aircraft N 22'% 22 22V* 221, Chemicals— Air Reduction... 601* 59% 69% 61 Allied Chem 190'% 188 188 190% Am Com Alco . 23% 23'/* 23V* 23% Col Carbon 116% 116% 116 s /, 120 Com Solvents .. 17V, 17% 17% 17% Du Pont 141'% 140% 141 141'% Liquid Carb ... 35 34% 34'% 36V* Math Alkali .... 29’/, 291* 29V* 30 Monsanto Chem. 80% 79 80% 81 Natl Dis (new) 29V* 28% 29 29% Schenley Dist .44 42% 42% 43% Tex Gulf Sr.lph 36 35'% 35'% 36% Union Carbide . BH, 81 81% 82V, U S Ind Alco . 44'/* 41% 41V* 45 Drugs— Coty Inc 5% 4% 4’/, 5% Lambert 20V, 20 s /, 20Vi 20% Lehn ft Fink ... 15 14% 14% 15 Sterling Prod .. 69 631% 68V* 69 Un Drug (new). 13 12% 12’/, 13 Vick Chem 41 41 41 41 Zonite Prod 6% 6% 6% 7 Financial— Adams Exp 10% 10% 10-% 10% Allegheny Corp . 32% 2% 3 Am Int Corp... 10 10 10 10'% Chesa Corp 65% 65'% 65% 66 Transamerica ... 12% 12% 12'% 12V4 Tr Conti Corp .. 8% BV* 8% Bs/,8 s /, Building— Am Radiator ... 19% 19V, 19'% 19V* Gen Asphalt ... 25 24'% 24V* 25'% Holland Furnace 33 33 33 34V, Int Cement ... 46% 44% 45 47'/, Johns Manville . 94% 94 94 95 Libjby Owens Gls 55 53 53 55'% Otis Elev 27% 26V, 26% 28 U S Gypsum ... 87V* 86% 87 87% Household — Col Pal Feet.... 14% 14% 14% 14% C’ongoleum 35V* 35'% 35% 35'% Kelvinator 20 19V* 19% 20V, Mohawk Carpet.. 22 21V* 22 22% Proc & Gamble . 41% 41'% 41% 42V* Servel Inc 2014 20 20 20'/* Simmons Bed 26% 25V* 25'/* 27 Textiles — Amer Woolen 8% BV* 8V 8% Belding Hem ... 14V* 14% 14% 14% Celanese Corp . 22V, 22 22 V, . 22% Collins Aikman . 42 7 /, 41% 41% 44 Gotham Hose ... 8% 2V, 8% 9% Indus Rayon ... 27% 267 / 26’/, 27 Kayser Julius 28 28 28 28*% Chicago Stocks (By Atkins, Hamill & Gates) Prev. Close, close. Advance Aluminum 7Vi, 7% Allied Products 21V* 21V* Asbestos Mig 3% 3% Associated Investors 33V* 40 Vi Bastian-Blessing 10 s /* 10% Berghoff 11V, 11V, Butler Brothers 8% 8% Cent 111 Pub Service pfd 59'% 60-* Chicago Rivet & Machine.... 29V, Chicago Yellow Cab 25 26 Cities Service 4% 4% Commonwealth Edison 981% 991, Continental Steel '. 30 Cord 4% 5 Crane 26V* 27 Dalton Rubber 11 Electric Household 14% 15 General Household 8% 8% Godchaux Sugar (B) 15V* . Grt Lakes Dredge 28% 28 1 /■ Jarvis Mfg 19 19V, Katz Drug 41% 42 Ken-Rad T. & L 11 11% Libby McNeil & Libbv 7 7V, Lincoln Printing 10% ... McGraw Electric 30 s /* 30% Musk Motor Sp ‘A’ 19 Nachman Spring Filled 48 Nat Gypsum 48% 49% Northwest Bancorporation .... 9V* 10 Northwest Engineering 20 V* Public Service of North 111— 53 53 Standard Dredge pfd 13% 14% Swift International 30 30V* Zenith 13 18V* New York Curb .(Bv Atkins. Hamill & Gates) Prev. Close Close Aluminum Cos of Amer 114 123V* Am C.vunamid "B" 34'% 35V, Am Gas & Electric 35% 35’/, Am General 8% BV* Am Superpower 2% 2 s , Ark Nat Gas "A’’ 11% 12% Carrier Coro 8% 8% Creole Pet Coro 27% 28%, Crocker-Wheeler 9V, 9% Eiec Bond ft Share 18 18% Fisk Rubber 5'% 5% Ford Mot Can “A” 22V* 21’/, Glen Alden (1) 14 15% Greenfield Tap ft Die Coro ... 6% 7 Gulf Oil Coro of Penn 79'* 81 Humble Oil ft Reflninfi Cos ... 57% 60% Huvler sos Del pfd 22% • Hvgrade Food 4% 4% Int Vitamin 7% 7% Imperial Oil of Canada 22', 22% Irving Air Chute 20% ... Like Shore Mines 57V, 56% Mead Johnson ft Cos 91 90 Mueller Brass Cos 28 Molvbdenum Corp of Amer ... 8 8% Natl Bellas Hess Inc 2% 2% Niagara Hudson Pwr BV* 8% Pan-American Airways 57 57 5 , Pennroad Corp 4V 4V* Reliable Stores Corp 151* 16% Root Petroleum 147, 15% St Regis Paper Cos 3V 37; Salt Creek Producers Assn ... 8 8 Segal Lock 27* 3% Scnotone 2% .. Standard Oil of Ohio 27% 28% Stutz Motor Car of Amer 2% 3V* Technicolor, Inc 29V* 30 s , Wayne Pump 28 28Vi Daily Price Index (By United Press) NEW YORK, May 19.—Dun ft Bradstreet's dally weighted price index of 30 basic commodities, compiled for the United Press. (1930-1932 average 100): —Today. 116.28 Testerday ... 116.73 Year ago 121.18 Sat. (revised). 116.84 1936 high 123.40 Week ago ... 116 28 1936 low 116.00 Month ago .. 120.93: (Copyright. 1936, Dun ft Bradstreet, Inc.)

ATKINS, HAMILL & OATES MEMBERS New York Stock Exchange New York Curb Associate Chicago Stock Exchange Chicago Board of Trade 204 Electric Bldg. Riley 7521

STOCK VALUES PUSHED DOWN; TRADING QUIET Representative Issues Lost More Than 2 Points During Day. BY ELMER C. WALZER United Press Financial Editor NEW YORK, May 19.—Stock prices gradually declined today until losses amounted to more than 2 points in a long list of representative issues. Volume was about the same as yesterday. Traders were disappointed over the showing the market made when the Guffey Coal Act decision was announced. The market was unable maintain a speedy advance and before the close yesterday had been forced to lower territory. Asa result, considerable selling developed at the opening today. From then on. dealings were moderate. Recoveries occurred from time to time but rtone was sufficient to entice buying. Bonds Depressed Other markets performed about the same. Bonds were depressed and losses were noted in most of the commodities. The dollar firmed as the gold units drifted back to gold export points. The market ignored good business news and drifted toward its recent low levels. The industrial average hit its 1936 high on April 6 at 161.99. Then it declined 18.34 points to April 29 when a rally started and brought it up 7.95 points by May 15. Since then more than half the recovery has been lost. U. S. Steel, the most active issue, touched 5714, declined to 55is, off IVs, and recovered only a small amount. Other steel shares were down fractions to more than a point. Motor shares were relatively active. Chrysler lost nearly 2 points and then met some support while General Motors eased below 61 for a loss of more than a point. Atchison and Union Pacific were weak while New York Central met fair support and lost only fractionally. Farm Group Lower Case touched 147 off 6 points and others of the farm group were down 1 to 2 points. Chemical issues were weak although they moved up from their lows later. Monsanto touched a 1936 low at 79 off 2 points and then regained a point. U. S. Rubber was active and easier in a lower rubber section. Westinghouse Electric declined nearly 3 points. American Can on a few sales drifted down more than 2 points. Money and Exchange INDIANAPOLIS STATEMENT Clearings $2,857,000 Debits 7,214,000 TREASURY STATEMENT (By United Press) WASHINGTON. May 19.—Government expenses and receipts for the current fiscal year to May 16, as efimpared with a year ago: This Year Last Year Exp,... $ 6,324,072,939.24 $ 6,279,546.349.01 Rcpts.. 3,497,221,903.15 3,245,241,097.24 Deficit 2,826,851,036.09 3.034,305.251.77 Cash Bal. 2,377,550,822.33 1,644,728.839.04 Pub. Debt 31.541,529,725.88 28,583,790,444.48 Gold Res. 10,355.154,218.52 8,737,590,560.34 Customs 342,065,669.23 301,112,442.35 FOREIGN EXCHANGE (Bv Abbott. Proctor ft Paine) Prev. Par Countrv Close Close $8.2397 England $4.97% $4.97 s /, , .0663 France 0658% .0658% .0891 Italv 0785 .0786 .1695 Belgium 1691 .1692 .4033 Germanv 4027 .4022 .3267 Switzerland ... .3234 .5235 .6806 Holland 6757 .6756 .3267 Soain 1365 .1365% .4537 Norwav 2499 .2499 .4537 Sweden : 2567 .2064 .4537 Denmark 2220 .4221 1.6931 Canada 9972 ,997a Commodity Prices (By Abbott. Proctor ft Paine) COTTON NEW YORK Prev. High. Low. Close, close. Mav 11.63 11.62 11.62 11.62 July ... 11.43 11.39 11.42 11 40 October 10.52 10.42 10.48 10.09 December .... 10.49 10.38 10.44 10 46 Januarv 10.49 10.38 10.43 10.47 March 10.52 10 42 10 42 10 48 NEW ORLEANS Prev. High Low. Close, close. Mav 11.66 11 63 11.66 11.63 Julv 11.36 11.32 11.34 11.34 October 10.47 10.38 10.43 10.44 December .... 10.46 10.36 10 41 10.42 January 10.46 10.41 10.41 10.43 March 10.43 10.40 10.41 10.43 NEW YORK COTTONSEED OIL Prev. High. Low. Close, close. Mav 8.72 8.90 8.90 8.90 July 8.90 8.75 8 75 8.95 September .... t>.92 8.75 8.75 8.92 SUGAR Prev. High Low Close close Mav 2.98 2.98 July 2.88 2.80 2.88 2.85 BUTTER Prev. Close close November 27 27 June 25% October 22% EGGS Prev. Close close October 22% 22 5 , May 21% Produce Markets (By United Press) CHICAGO. May 19.—Eggs—Market unsettled: receipts. 36.251 cases; fresh graded firsts. 20'/*c: extra firsts, 20%c: current receipts. 19'*c: dirities. 18%c: checks, 18V*c. Butter—Market steady; receipts. 11.853 tubs; standards. 25%c: extras (92 score). 26c; extra firsts (90-92% score). 25%@25%c: firsts (88-89% score). 24%# 25c: specials. 26%@27c. Poultry—Market, steady; receipts. 35 trucks; ducks. 12*716c; geese, I0*illc: spring chickens. 26%@29c; nens. 19@20%c: capons. 25(128c; turkeys. 18@20c: broilers, 207?25c; Leghorns. 14@ 18c; old roosters. 14c; fryers, 25@28c. Cheese—Twins. 13%Q13%c; daisies. 14@ 14'/*c; Longhorn. 14@14%c. Potatoes— New stock, supply moderate: demand light; market firm; Alabama Bliss Triumphs $2.75*12.90; Louisiana Bliss Triumphs. $2.75 2.90; U. S. No. 2. $2.15; Mississippi Bliss Triumphs. $2.85: old stock, supply light; demand good; market, strong; Idaho Russet Burbanks. [email protected]; Colorado Russet Burbanks. [email protected]; Minnesota early Ohios. $1.60: North Dakota Cobblers. $1.60; early Ohios. $1.75. Arrivals 73, on track 257. shipments 469.

U. S. Cotton Stocks Drop Stocks of all cotton fold in the United States totaled 7,804,000 hales on April 30, compared with 9,207,000 bales on the same date last year, a decrease of 1,403,000 hales, according to the New York Cotton Exchange service.

New Bond Issues (By Lyons ft Cos.) Bid. Ask Asso Tel 4s 66 105% 105% B ft O 4%s ’39 99 29% Brooklyn Man Tr 4%s ‘66 ...100 Cal Ore Pwr 4s ’66 96 5 ; 97% Cent Maine 4s ’6O 102% 103'* Cent 111 3%s ’66 105% 105’. Cft O and Rep Imp 3%s '96 100 s , 101 Chicago Sts 3%s '63 107 107% Cinn Un Term 3%s '7l 106 106% Cleve Elec Ilium 3%s '65 110% 111% Cleve Tractor 5s ’45 .105 Columbus Railway 4s '65 105’, 106% Conn River Pft L 3%s 61 .. 104% 105% Consolidated Ed 3%s '46 104% 104% Consolidated Ed 3%s '56 103% . Consumer Power 3%s '7O 104 104% Cudahy Pkg 3%s '55 100 s , 100% Cudahy Pkg 4s ’SO 102% 102’, Eastern Gas ft Elec W 4s ’56.. 93% 93% Edison Illus Bost W 4s ’65 ..107 107% low* South Util 5%s 'SO ... 101% Kansas P L 4%s ‘65 . 108% 108% Jones ft Laughlin 4*;s '61.. 98% 99% Los Angeles G Ir E 4s ’7O ....105% 105% Maine Cent 4s ’45 100% 100% Metro Ed 4s ’65 107% 108% Monon W Dr 4%s ’6O 104% 105'/* N Y Edison 3%s '65 102 1021* N Y Cent 3**s '46 97% 98% Norway 4%s ’56 101 101% Norway 4%s ’56 95% 96V* Ohio Edison 4s ’65 1057, 1067, Pacific Lite 4%s '45 105V* 105% Pacific Ct ft E 3%s '6l 104 104*/* I Pacific Tel 3%s '66 102% 102 s * Penn R R 3%s ’7O 101% 102 Penn Tel 4s ‘CB 1061* . Pub Serv N H 3%s ’6O 105% 105 1 '* I Railway ft Lite 4%s ’55 108 110 i Sagueney Pwr 4%s ’B6 100 San Diego G ft E 4s ’65 109% So Cal Gas 4s ’65 104', 104% So Cal Ed 4s ’6O 109 So Cal Ed 3 s ,s '45 104% 106 So Western G ft E 4s ’6O ...102% 103% Union-Pac 3%s '7l 99% 99 s , U S Pine ft Fdy 3%s ’46 106 s , 107% West Penn 3%s ’66 106% 106% Wise G ft E 3Vis '66 . . 102 s * 103 V, Youngstown Sheet &Tr 4s '6l 98% Ygstwn Sht ft T Deb 3%s ’sl 102', 103 MAJOR GRAINS CLOSE LOWER Weakness at Liverpool and Winnipeg Depressing Factors. I?;/ United Press CHICAGO, May 19,—With new lows for the season registered at Winnipeg and Liverpool in wheat, prices eased in the wheat pit on the Board of Trade today. At the end wheat was off % tc I I % cents, corn was off Vi to % Icent, and oats were % to % cent lower. Liquidation of May contracts as the month's trading neared a closs brought a sharp decline in Mav wheat prices here aided by sharp drops in prices at Liverpool and Winnipeg. The bearish report of ideal weather for crop development strengthened the downward trend ol the May crop. Scattered selling of corn credited' to cash interests, resulted in lower corn prices, but interest remained light. Pressure was not heavy and the market showed a tendency to rally at times. Oats held within a narrow range in a featureless market as traders showed little interest. Rye eased somewhat in sympathy with other grains, but held about steady witn yesterday’s close. (By United Press) Wheat— Prev. Open, High, Low. Close. Close. May-.. .92% .93 .91% .92'% .93% July... .84% .85'/* .84'/* .85 .85% Sept... .84% .84% ,84V* .84'/* .85'/, Corn— May... .63% .64 .63% .63% .63’/, July... .60% .60% .60'/* .60% .60% Sept... .58% .58'/* .58'/, .58'/* .58% Oats— May... .24% .25 .24% ,24%b .25'/* July... .251* .25% .25% ,25%b .25% Sept... .26'/, .26'/* .26 .26 .26% Rye— May... .541* .55'/* .54% .55a .55% July... .54% .54’/, .54'/, .54% .55'/* Sept... .55% .55% .54% .54%b .55% Barley— May... .. •• •• .37b .37 Lard — May. 10.25 10.25 IC.3S 10.25 10.25 July 10.15 10.17 10.15 10.15a 10.15 Sept 10.27 10.27 10.20 10.20 b 10.22 a Ask. b Bid. CHICAGO TRIMARY RECEIPTS Bushels Today Last Wk. Wheat 647.000 284,000 Corn 331,000 587,000 Oats 244/00 228,000 INDIANAPOLIS Wheat—Weak; No. 1 red, 89%<®90%c: No. 2 red. 88%@89%c. Corn —Weak: No. 2 white, 61%*j63%c; No. 3 white. 59@61%c; No. 4 white. 57%®58%c: No. 2 yellow. 59% (®6l%c; No. 3 yellow. 57*:59%c; No. 4 yellow. 54%(®56%c: No. 2 mixed. 57%*?59%c; No. 3 mixed. 55%*z57'/*c: No 4 mixed. 53% (ft 55%c. Oats —Easy; No. 2 white. 22%& 25%c; No. 3 white, 21%@23%c. LOCAL CASH MARKET City grain elecators are paying 85 cents for No. 2 soft wheat. Other grade* on their merits. Cash corn new No. 3 yellow 56 cents and oats 18 cents. (By United Press) CHICAGO. Mav 19. Cash grain: Wheat —No. 4 hard. 93%e; No. 3 mixed. 94e. Corn—No. 2 mixed. 65%c; No. 3 mixed. 64%c; No. 2 yellow, 65%@66'ic; No. 3 vellow, 64(a65%c; No. 4 yellow, 64@65c; No. 5 yellow. 62%fr; 63%c: No. 1 white, 69%c: No. 2 white, 69@69%c; sample. 55*7.61 %c. Oats—No. 3 white. 25®27%c: No. 4 white. 24*7,24%c: sample grade. 20% *7 24%r. Rye—No sales. Barley sales. 607 83c; feed quoted, 30’S48c; malting. 49*r 92c. Timothyseed. 52.75*i3. Cloverseed. $12*120. Soy Beans—No. 4 yellow, 81@84c; sample. 74c. Cash provisions: Lard, $10.25 nominal: loose. $9.60 bid; leafy, $9.50 nominal: bellies, *12.50 ask. TOLEDO, May 19.—Grain close: In elevators —transit billing. Wheat—No. 2 red, 95%<g96%c. Corn —No. 2 yellow. 68@69c. Oats—No. 2 white. 31 @32c. Rye—No. 2. 61@62c. Track prices—24%c rate. WheatNo. 2 red, 90%©.91%c: No. 3 red, 88'/*® 90%c. Corn —No. 2 yellow. 63 , No. 3 yellow, 62@63c. Oats—No. 2 white, '27% ig29%c; No. 3 white, 24@28%c. Other Livestock (By United Press) LAFAYETTE. Ind., May 19 —Hogs—Market, 20c higher; 170-210 lbs., *9.65&9.75: 210-235 lbs., $9.50*79.55: 235-260 lbs.. $9.40 *7.9.45; 260-325 lbs. *9.10*£9.30; 130-170 lbs.. *9.35(59 50; 100-130 lbs., *8 [email protected]. roughs. S8 down. Calves, *8.50 down. Clipped lambs, *9.50 down; spring lambs, *10.50 down.

Rush Jobs Make Us Smile Hendren Printing Company, Inc. 470 CENTURY BLDG. Rl-8533.

-WE BUY, SELL. and gladly furaith quotationt oa: Bonds of ths Unitsd States Govsrnmsnt, Its Tsnitoriss and Insular Possessions Homs Owners' Loan and Land Bank Bonds Indiana Municipal and Corporate Securities General Market Securities fc Indianapolis Bond and Share Corp. I2t CAST MARKET STREET

PORKER PRICES MOVE UPWARD 15 TO2O CENTS Sharp Advance Carries Top Mark to $9.95; Cattle Market Uneven. A general advance of 15 to 20 cents in porker prices today at the Indianapolis Union Stockyards carried the top price of good and choice weights within 5 cents of the $lO level. The choice grades sold at $9.95. Today’s sharp upward movement was influenced largely by a strong demand prevailing for all classes. This was evident, however, in face of heavy receipts which were estimated at 6000. Holdovers numbered 123. Bulk of better grades, scaling 160 to 225 pounds, cashed in at $9.80 to $9.90. Medium kinds, from 225 to 260 pounds, sold at $9.65 to $9.75. Extreme heavier, scaling from 300 to 350 pounds, were offered at $9.25 to $9.45. Light slaughter pigs. 130 to 160 pounds, brought $9.15 to $9.65. Packing sows held at $8.25 to $8.65. An uneven trading range developed in the cattle market. Prices were mostly unchanged in steers and steady to strong for heifers. Bulk of the latter classes sold at $7.60 to SB. Cows were strong to around 25 cents higher. Receipts numbered 2500. Although receipts were estimated at 900, the veal market continued to display a steady price range. Bulk of good and choice kinds sold at $9 to $9.50. The lamb market was mostly 25 cents higher. Few spring grades sold at sll to $11.50. Choice clipped lambs brought $10.50. Slaughter sheep were scarce and unchanged. Receipts were 1500. HOGS May. Bulk. Top. Receipt? 13. 19.955 9 55 *9.60 4500 i 14. 9.65@ 9.7.4 9.60 3000 I 15. 9.655 9 80 9 85 3500 16. 9.60@ 9.75 9.75 1500 i 18. 9.605 9 75 9 80 5500 1 19. 9.80® 9 90 9.95 6000 1 Light lights. j (140-160) Gool and choice * 9 405 9.80 Medium 8.755 9.60 (160-180) Go and and choice . 9.705 9.95 Medium 9.355. 9 75 (180-200) G. and and choice . 9.80 5 995 Medium 9.405 9.85 (200-220) G< H and choice . 9.80 5, 9.95 (220-250) Oi and and choice . 9.70® 980 Heavvweieht.. (250-290) G ;od and choice $ 9.455 9.70 (290-350 T C >od and choice . 9.25® 945 Packing Sow (275-350) G >od 8.455 8.95 (350-425) G tod 8.355 8.73 (425-450) C ood 8.005 8.40 (275-350) I tedium 7.65® 8 50 Slaughter Pi?s. (100-140) Good and choice . 8 405 940 Medium 7.75® 8.95 CATTLE —Reecipts, 2500 (550-900) Choice $8,255 9.00 Good • 7.50® 8.25 Medium 6.50® 7.50 Common 5.759 6.50 (900-1100) Choice 8.25® 9.00 Good 7.505 8.00 Medium 6.75® 7.50 Common • 5.75® 6.75 (1100-1300) Choice 8.25 5 9.00 Good 7.50® 8.50 Medium 6.75® 7 50 (1300-1500) Choice 8.25® 9.00 Good 7.50® 8.25 Heifers (550-750) Choice B.oo® 8.50 Good 7.255 8.00 Common and medium 5.755 7.50 (750-900) Good and choice .. 7.25® 8.50 Common and medium 5.75® 7.25 Cows Good 5 75® 6 40 Common and medium 5.00® 5.75 Low cutter and cuter 3.75® 5.00 Bulls, good 6.00® 6.50 Cutter, com. and med. bulk.. 5.50® 6.25 VEALE-RS —Receipts, 900— Good and choice 8.50® 9.50 Medium 7.50® 8 50 Cull and common 4.50® 7.50 Calves (250-500) Good and choice.. 6 005 873 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 Cow* Good 5 00 5 5.50 CornrHon and medium 4.50® 5.00 SHEEP AND LAMBS —Receipts. 1500— Lambs. 90 lbs. down; good and choice *10.00510 50 Good 9.50510.00 Medium A.50 5 950 Common 7.25® 8.50 Bwes. (90-170) God and choice ... 3.759 450 Common and medium 2 50® 3.75 (Sheep and lamb quotations on clipped basis.) Other Livestock (By United Press) CHICAGO. May 19.—Hogs Receipt*, 12.000. including 3500 directs; fairlv active; strong to 10 cents higher than Monday’s average; fop. *9.75: bulk. 160-280 lbs., $9.4509.65: 140-160 lbs . *9®9.50; 280-350 lbs.. *9.10 5 9 50; sows. *8 4058 70 Cattle—Receipts, 8500: calves, 2500: fat steers again predominating in crop: market very slow; only activity earlv on light weight steers and yearlings: bidding weak to 25 cents lower on medium weights and bullocks. Cows scarce, steady. Bulls, 10 to 15 cents higher. Vealers steady. Earlv top on 1000-lb yearlings. 58.90. Numerous loads fed heifers. $7.7558 25. Best earlv. *8.50. Practical top sausage bulls. *6.315. , v ? a ’‘* r * to $10.50. Sheep—Receipts. 6000. Pat lambs, steady to strong. Spring??~2 ne . ven J y hi ? htr - Clipped lambs. *9.70® 10.25. Load atrictly choice weighty Colorado*. *10.50. Native springers. *11.755 12. *3| e 3 P 75‘ t few" *4° Weak MO * C * h ° rn ***** FORT WAYNE. Ind , May 19._Hoes— Steady to 15c higher: 160-180 lbs.. *9 75; 180-200 lbs., *9.65; 200-225 lbs.. *9.50' 225250 lbs., *9.40: 250-275 lbs.. *9.30: 275-300 lbs., *9 20; 300-350 lbs . $9: 140-160 lbs *9.45: 120-140 lbs., *9.30: 100-120 lbs. *9; roughs, $8; stags, *6 25. Calves *9.50. Lambs. *ll.

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