Indianapolis Times, Indianapolis, Marion County, 4 July 1936 — Page 11

U. S. Has Written

SATURDAY, JULY 4, 1936

PAGE 11

om rd Day holiday. Quotations will be resumed on The Times financial page Monday when all markets reopen.

21 Deficits in Records.

BY JOHN T. FLYNN ce EW YORK, July 4—The first of July rounds out, not merely a year of deficit, but almost 21 years of government deficits in

- the United States.

This statement will surprise many. It is supposed that deficits ‘in this country came into being with our present perennial boarder—the depression. But this is not 50. They began with the advent of the European war. In one form or another they have persisted since. And now | they come to a magnificent climax with a deficit of over $4,700, 000, 000 | and a public debt of around 34 billion dol- | lars — an all--time high. We must remember that in this country, our governe- | ment is split up into various classifications. There are the national, the state and the numerous local governments, All of them are gpending money and collecting taxes for the purpose. All of them are running into debt at different periods and. borrowing millions to pay their debts. When you want to know what the public debt of the United States is, you must look at the balance sheets of all these sections of government. » » ” , OW if you will go back to 1915 you will see that the Federal government spent about 26 million dollars more than we collected in taxes. This continued until we went into the war and then on a “grand scale swept forward until 1919, inclusive. Then in 1920 and 1921 there were ostensible balances of the national budget, but deficits in fact. By 1922, when the Federal gov=ernment began balancing its budget, the state began to unbalance theirs. The states and cities, hitherto very moderate borrowers, had learned the gentle are of borrowing money from our Liberty Loan drives. If we look at the combined budgets of the states, cities and all local units from 1922 to 1930 we will see that they were unbalanced every year. This was not confined to Democratic states. But Republicans and Democrats vied with each other in the race.

2 ” 2

ERE are the combined deficits by years: 1922 ...........$151,800,000 1924 ........... 412,700,000 1926 ....c00.... 219,000,000 1928 ........... 192,300,000 .. 321,000,000 . 397,300,000

Then in 1931, the Federal Government resumed. its unbalance. Here is its record in round numbers:

1931 1932 1933 1934

cesses. $ 462,000,000 cesesssss 2,740,000,000 so evsccse 2,600,000,000. ss ssssece 3,600,000,000 1935 ......... 3,575,000,000 1936 ......... 4,700,000,000

{ All this means money that we . have spent, but haven't gotten— money we have borrowed. Gov- | ernment expenditures which we | have really not yet paid for, but which we are going to have to pay i for in the future. We are going to | have to keep up with the regular | Government outlays in the future " but pay all these billions besides. In the coming year we will probably add at least another two billion to this deficit—perhaps more. The point is—when are we going

to start paying our way? (Copyright, 1936, NEA Service, Ife.)

TRACTOR SALES UP IN FIRST 6 MONTHS

~ Farm Income Shows Increase of 20 Per Cent Over Year Ago. Time Special

NEW YORK, July 4—Demand |fo

for tractors which accunted for 40 per cent of agricultural machinery |. sales last year, showed marked expansion during the first six months this year, according to Poor's Investment Service, The improved demand included thé smaller units as well as the heavier types. It also reflected a larger farm income. Farmers received 20 per cent more in income from products sold during the first quarter of 1936 than in the like period a year ago, the report stated. Re- - duced benefit payments in the first quarter this year resulted in only a 7 per cent gain for total cash farm income.

CAR PRODUCTION GAINS

Canadian Output Shows Rise of 4 Per Cent During May. Times Special MONTREAL, July 4—Automobile _ production in Canada increased by approximately 4 per cent during | Ja ‘May, compared with the correspondifig period a year ago, it was

announced today. Production during the month totaled 20,765 cars. More than 15,000 of the total was sold in Canada.

approximately | ye

FACTORY USES

GLASS BLOCKS IN SIDEWALLS

Indianapolis Fan and Pump Plant Reports 19 Years’ Growth.

The first factory building in Indianapolis to be constructed with glass masonry has been completed

and put into use by the SchwitzerCummins Co. This inovation in building materials was introduced to the city in an addition to the company’s extensive plant located at 1125 Massa-chusetts-av. Work started in the middle of March and was finished this week. The cost was almost $34,000. The firm was founded 19 years ago by Louis Schwitzer, president and treasurer. Its business has experienced a steady and substantial growth until it now employs approximately 700 persons.

Entered Other Fields

Beginning with the manufacture of fans, water and oil pumps, the company expanded into other fields. It now sells it products to several hundred concerns in more ‘than 25 Sifferent industries, Mr. Schwitzer said. The latest of several recent plant expansions made by the company adds approximately 22,000 square feet of floor space. Glass blocks were chosen for portions of the sidewalls to give the factory an attractive and modern appearance, to improve lighting in the factory, and because of the insulating qualities of glass, Louis H. Schwitzer Jr., vice president, said.

Blocks Expensive

He said the glass blocks are considerably more expensive than the other brick used in the building. It is believed that a saving can be affected in heating and lighting, however. The glass masonry was purchased from the Owens-Illinois Glass Co. plant at Muncie. Executives of this company reported a growing demand for glass blocks and said that an addition to the Muncie unit is being rushed to completion to enable quadrupling of glass block production. {Glass blocks transmit light but are not translucent. They are hollow and contain a partial vacuum of fro m40 to 60 per cent. The glass blocks are described as affording insulation within themselves and are said to be ideally suited to plans for air conditioning. This type of glass masonry was developed less of from 40 to 60 per cent. The glass

Develop Stoker Business :

A rapid growth in business was given as the reason for the latest addition to the Schwitzer-Cummins plant. Four years ago the firm began making automatic stokers to add to its line of products, now including ventilating, and air conditioning equipment. The stokers, identified by the name “Stokol,” are d in every locality in the United States where coal is used for heating, Mr. Schwitzer said. “Products from the Indianapolis factory can be found in every country in the world,” Mr. Schwitzer said. “For example, water and oil pumps made here are used in the motors which pump oil in the Texas oil fields. Others are on dredges and excavators in India and Asia. The truck trains which cross the Andes of South America are equipped with our superchargers which maintain the same. power at 12;000-foot altitudes as at sea level.”

VALUE OF 25 STOCKS SHOW GAIN / GAIN IN WEEK

Riprientating. Catead Chicago List Rises $2,943,750 in Period.

Times Special CHICAGO, July 4—Twenty-five representative stocks listed on the Chicago Stock Exchange had a market value at the close of business the week ended July 3 of $959,333,125, an increase of $2,943,750, or 31 per cent, as compared with the irket value of $956,389,375 at the . se of the previous week, according to a compilation by Paul H. Davis & | Co.,, members of the Chicago Stock Exchange. At the close of the corresponding week a year ago, the same 25 stocks had a market value of $594,843,000, indicating an increase during the of $364,490,125 or 61.28 per cent.

CUSTOMS REVENUE SHOWS DROP HERE

Number of Transactions Doubled, Wray E. Fleming, Reports. Collections in the Indiana district

o [United States Customs were apately $3,000,000 less this year

tha last, the annual fiscal report

issued by District Collector of Cus- ¥ Wray E. Fleming disclosed toay. ut the number of transactions dled was doubled, according to report. Collections totaled Fy ,683.94. The decline in collecti was due, the report said, to reduction in tariff rates which were effective Jan. 1. erchandise imports by mail Brough: revenue of $25422.22, relarger volumes of importaNi individuals and state busi-

TELEPHONE RATE CUT

SCHWITZER-CUMMINS CO. USES GLASS MASONRY

The first building in the city in which recently developed glass blocks were used extensively is an addition to the Schwitzer-Cummins Co. plant at 1125 Massachusetts-av. The addition was made at a cost of approximately $34,000 and gives the local makers of stokers, pumps and fans an added 22,000 square feet of floor space. E. B. Ball & Son, contracting firm, just completed the work. block construction is the “coming thing,” Mr. Ball predicted. The two “windows” in the 10thst side of the new building are seven feet wide and about 200 feet long.

HOME FINANGING

BREAKS RECORD

FHA Mortgage Commitments Exceed 1935 Total in 6-Month Period.

Times Special WASHINGTON, July 4—Recordbreaking figures in home financing by private capital under the insured mortgage system were announced today by Stewart McDonald, Federal Housing. Administrator. Commitments to insure home mortgages made by the Federal Housing Administration during the first half of 1936 exceeded the entire total of 1935. From Jan. 1 up to and including June 30, 1936, the dollar volume was $175, 543, 754, as compared with $168,854,582 for all of 1935. The Housing Administration makes such commitments when it accepts mortgages for insurance. Private Capital Flows The statement further reveals that June figures in home mortgage commitments outstripped those of any other month since the passage of the National Housing Act. The previous record was $35,399,760 in May, 1936. June commitments amounted to $48,250,655, a gain of $12,850,895 over May. Up to and including June 30, the total volume of private capital represented in commitments amounted to $344,422436 for 85,593 mortgages. Rejections amounted to $¢5,793,831, while the balance of mortgages: in process including conditional commitments, amounted to $54,959,791. : Large-scale housing operations which are not included in the total of home mortgages accepted for insurance showed a similarsgain during the first half of 1935. Mortgage commitmants on these projects amounted to $20,482,158 on Jan. 1, 1936, while on June 30 they totaled $43,308,358.

NEW HOME LOANS EXCEED REFINANGING

Value of Insured Mortgages High in Four States.

Times Special WASHINGTON, July 4—The volume of new home construction financed under the insured mortgage system of the Federal Housing Administration exceeds the volume of refinancing mortgages on existing homes in four states by the Federal Housing Administration. Florida heads the list, with 63 per cent of the commitments of the Housing Administration to insure mortgages being used to finance construction of new homes and. only 37 per cent to refinance the debts on existing homes. New ‘York is second with 57 per cent for new construction and 43 per cent for refinancing. Wisconsin is third with 54 per cent for new construction

and 46 per cent for refnancing.

Idaho ranks fourth with 53 per cent for new construction and 47 per cent for refinancing. Eight other states are ranging above the average for the country as a whole, which is around 35 per cent for new construction and 65 for refinancing. These states and their percentages tor new construction are: Connecticut and Texas, 47 per cent each; Mississippi, 46 per cent; North Carolina, 4d per cent; New Mexico, 44 per cent; Michigan, 42 per cent; California, 40 per cent, and New Jersey, 39 per cent.

BOOSTS DIVIDEND RATE

Transamerica Corp. to Pay 40 Cents a Share Annually. Times Special

Glass.

Although the glass walls are only four inches thick, they have the same heat and cold resistance as a 13-inch brick wall, Mr. Ball said. The blocks admit a diffused light, he said, that is easy on the eyes, having no sun glare. The glass block “windows” are divided by walls of regular glazed bricks. They are set in regular brick mortar. The blocks are tied together alternately with galvanized strips. Every 22 feet there is an expansion joint, Mr. Ball said. The base for the tiers of glass is a concrete window sill. To provide for expansion and contraction, the glass walls rest on a

New Business Books Available at Library

The following new: business books are now available at the business branch of the Indianapolis Public Library:

THE COMING REAL ESTATE BOOM, by Ray Weinlick.. To Renta house with a big mort0 Owners—Do not pay off Mortgages are now

f stuck with real estate, hold on.

LIFE INSURANCE: A CRITICAL EXAMINATION OF TYPI METHODS OF CONDUCTING THE NSURANCE BUSINES SS, by .Edward Berm comparative study of bouiog an. ftieen life insurance companies.

CLUB ECONOMICS: SUGGESTOs FOR JrMBLRSEIP CLUBS HO OPERA WITHIN ABE BUDGETS: x F. Reeve: The average citizen belongs © at least one club and often several

MAKING LETTERS TALK 'BUSINESS, by Sherman Perry. A manual of business letter writing prepared for use in a large American corporaon.

POOR'S ST OISTER OF DIREC- - TORS, 1936. In addition to the corporation list and the individual list, this new edition also includes a SOORTADRICA] section.

DOMESTIC POWER MOST EXPENSIVE

Federal Commission Gives Results of Survey.

Times Special WASHINGTON, July 4. — Commercial and industrial users of electric power pay much less for it than domestic consumers, the Federal Power Commission reports in the fourth of its volumes on rate schedules in the United States. - The commission finds, after a na-tion-wide survey, that more than 67 per cent of all electric energy sold in the United States is sold to commercial and industrial users. Of total revenues collected by companies, 53.3 per cent is paid by commercial and industrial users This type of customer has, in many cases, the alternative of buying power from a company or setting up its own generating plant. Large commercial and industrial customers pay less proportionately than smaller ones, the commission finds. This class, composed chiefly of buyers of power, buys 51.3 per cent of the electric energy sold commercially and industrially and pays 26.6 of the total revenue of the electric utility industry, the report says. Small establishments buy 15.9 per cent of the energy and pay 26.8 per cent of the revenues.

CCC TO RELEASE COTTON Times Special WASHINGTON, July 4. — The Commodity Credit Corp. has announced it is to release for immediate consumption and export additional cotton acquired under the administration’s producer loan program.

cushion and are separated from the

I-beam at the top by a three-quarter

inch space filled with calking com-

pound such as is filled in between |

paving bricks. . The blocks are 4 inches thick, five inches high, and 6 inches long. They take up the same space as two ordinary bricks. A few of these blocks were used in transoms in a new Butler fraternity house and in the James E. Roberts School for Crippled Children, Mr. Ball said. Otherwise, the Schwitzer-Cummins factory is the only building in the city, Mr. Ball said, where the new type masonry has been used.

PRODUCE PRIGE TREND UNEVEN

Shipments Reported Light in Midwestern Area During Week.

Times Special WASHINGTON, July 4.—Shipments of fruits and vegetables are light "in the Midwestern district, with the exception of potatoes, accord to the weekly report of .the

Department of Agriculture.

The movement of new crop potatoes, although still light, was increasing near the first of July with a heavier movement from Virginia and continued activity of shipments from central California. The price trend was somewhat irregular during the last week. Such products as potatoes, melons, canteloupes and peaches were seasonally lower, while most important items held about steady. Citrus fruits, however, are decreasing fast, also celery, strawberries and old crop: potatoes. Heavy melon shipments were received last week for the holiday market. These equaled the weekly potato movement of more than 4000 carloads.

Tomato Prices Drop The trend of the potato market

| has been mostly lower singe the

high points of early June, although supplies continue moderate and underlying the position appears rather strong. The production output is somewhat improved since the late June rains in some sections. Tomato shipments from the South are still active and prices about steady. Kansas City reports rapidly increasing arrivals of home-grown tomatoes of fairly good quality, but showing some injury from dry, hot weather. . Apple shipments in the Midwestern area are much lighter than a year ago and are expected to continue so because of the poor crops. Melon receipts are liberal, arriving from Georgia, Florida, and a few from Alabama. Shipment of cantaloups are tending lower due to liberal receipts and cool Weather in some sections.

FOREIGN BONDS RISE

30 Representative European Issue:s Up 3.31 Per Cent in June. Times Special NEW YORK, July 4—Foreign dollar bonds advanced during June, according to the Foreign Bond Associates, Inc., index of 50 representative issues, which stood at 57.77 on June 30 compared with 5636 on, ‘May 31. The 30 European issues in the index rose 3.31 per cent and the 16 South American issues 2.10 per cent, while the 4 Australian issues fell 22 per cent.

THIS CURIOUS WORLD + By William Ferguson

ARE THE MOST SERIOUS THREAT TO MANS SUPREMACY ON EARTH./

ee YET,

NOT A SINGLE SPECIES GROWS

TO A LENGTH EXCEEDING 8B INCHES.

TRADE GROUPS STUDYING NEW ANTI-PRICE ACT

Federal Commission Orders Counsel to Report on Extent of Duties.

BY HERBERT LITTLE Times Special Writer WASHINGTON, July 4—Business men and the Federal Trade Commission are studying the new Patman Anti-Price Discrimination t to decide whether it will affect business vitally or have only slight effect. The commission, entrusted with its enforcement, has directed Chief Counsel W. T. Kelley to study the law and report back on the extent of the commission’s duties thereunder. Until this is done, no drastic action is expected. In business circles, speculation as to possible wide reorganization is widespread, and ambitious plans are being made tentatively to obey —or avoid—its provisions.

Fake Payments Curbed

One interesting possibility is that co-operative brokerage houses may be set up by purchasers of goods. The law forbids “fake” brokerage payments to 8 brokerage house which is merely a creature of the purchaser—and a mask for an added discount. But a provision allows co-operative organizations to distribute profits to their members. Farmers insisted on this. So now the chain stores and other big buyers of goods from both manufacturers and wholesalers may organize co-operatives, some believe, in an effort to skim off a little of the middleman’s profit for themselves. The act’s greatest impact is to be on wholesale trade, it is expected, although its provisions apply to every sales transaction in interstate commerce.

Main Provision Cited The act’s main provision, forbidding so-called “quantity discounts” to. big purchasers, does not forbid

“due allowance” for bona fide dif-|

ferences in cost of manufacture, sale and delivery. But if proof is presented to the Trade Commission of an “unfair” price discrimination to a big buyer, the burden of proof is on the seller, who must show that the discount was a fair one. A tremendous possible change in industry would occur if industrial concerns decided to buy or build their own plants to produce their own raw materials, as a result of the price provision. . Changes Expected For instance, steel companies may have to charge the big makers of tin cans, razor -blade and such fabricated materials the same price for steel that the little men in the same business pay. At present the big buyers get considerable discounts. If these discounts are shaved down under the law, the canners and razor-blade men may find it cheaper to buy steel mills of their own. Such a tendency, if carried far, would make for a vertical integration of industry, with one corporation owning plantsaall the way from the raw material to the finished product on sale in a retail store— like the unique Ford Motor Car Co. setup of today. There are dozens of such situations which will take much study, commission action, court action and the evolutionary process of adjustment to determine finally.

ELECTRICITY OUTPUT REACHES NEW HIGH

Gains Range From 10.5 to 27.7 Per Cent- During Week.

Times Special CHICAGO. July 4—The output of eletricity in the United States rose to a new all-time record for the week ended -June 27. All states were included in the compliation. Gains, comparable to the corresponding 1935 period, ranged from 10.5 per cent in the Pacific Coast section to 27.7 per cent in the Rocky Mountain ‘region. The Midwest area consumption ranked next in line, showing an increase of 21 per cent over the 1935 mark, accounted for by heavy cenPal isation of the industries, it was said.

333 PER CENT GAIN IN INCOME REPORTED

Power Company Issues Statement

on 12-Month Period.

Times Special CHICAGO, July 4—Net income of the United Light and Power Co. increased 333 per cent or $2,676,245 for

| the 12 months ended May 31, compared to the preceding 12-month | oH od.

Earnings on preferred stock were

$5.80 a share compared to $1.34 in Gross income | (3

the previous period. for the year amounted to $81,547,-

"1942, a gain of $6,564,541 over the

12 months.

INDIANA FIRM EXPANDS

Busigraphs > NEW MACHINE TOOL ORDERS

x (Macrne TOOL BUILDERS ASS'N) ne ;

\ IN

INDEX FIGURES i

AER ERNE

RRR ">a w

19 3 | THE PARKER CORP. GENERAL INCORPORATED INVESTORS

There are some industries whose production carriers far more significance than just their own activity. Such an industry is the manufacture of new machine tools, for the purpose of machine tools clearly indicates future manufacturing activity. New machine tool orders in May passed a year ago by 62 per cent, while in the first five months of this year activity exceeded the same 1935 months by 79 per cent. These increased orders indicate greater industrial activity in the months ahead.

BOOK APPROVES TRADE TREATIES

Author Says New Deal’s Policy Deserves Full » Support.

By Rcripps-Howard Newspaper Alliance SAN FRANCISCO, July 4—The New Deal's reciprocal trade agreements deserve “full support,” in the

opinion of M. J. McCarthy, export manager of Stanton & Berry, freight brokers. MecCarthy’s statement is made in a booklet just published by his firm on exports of California dried fruits. In indorsing the Administration’s trade policy McCarthy also stated the viewpoint of the San Francisco Chamber of Commerce. “Considering the principle behind the reciprocal trade agreements,” said McCarthy, “it is believed that as the people come to understand what it means to the economic welfare and prosperity of the country as a whole, the advocates of ‘selfcontainment’ and ‘buy American’ will find themselves listening to their own echoes.

Says Better Ideas Lacking

“It is one thing to harass the

policy of the State Department concerning reciprocal trade agreements and another to suggest or offer a better plan which would retain our international trade without permitting imports. “It shold be:borne in mind that our trade agreements are made with the view to securing the maximum amount of international commerce and the minimum amount of disturbance to our domestic industries and. home markets. “If we fail to recognize this principle, in what other manner may we halt the loss of qur export market? . .. “We would then witness a steady decline in our exports, the serious problem of disposing of our own surpluses, the lowering of wages, increased taxation, increased unemployment and, in the case of agriculture, the abandonment of many farms.”

BUSINESS PROSPECTS CLOUDED BY DROUGHT

Labor Unrest Also Seen as Factor Retarding Recovery.

Times Special NEW YORK, July 4—In its weekly summary of the general business situation, the Standard Statistics Co. reported today as follows: “Continuing drought conditions in the Northwest and growing labor unrest have tended to cloud an otherwisé bright business picture. “There have been only scattered rains in the dry areas recently, with the result that further deterioration in crops doubtless has taken place. Complaints of poor pasturage also have been received. Consequently, the flow of milk has been reduced and raw milk prices have firmed. In fact, quotations for all dairy products have strengthened in reflection of the prospective lower supplies. “The drought situation is serious, and although it is not nearly so widespread as in 1934, it will have the effect of reducing the purchasing power of a large number of individual farmers, even though Federal relief will be forthcoming.”

On Commission Row

(Reprinted From Late Times Yesterday) (Quotations below subject to change are average wholesale prices being offered to buyers by local jSommission dealers.) FRU. Rasp

berries, blac! $2.50; 24-pt. cr ate, $3. ~Huc! ries, ‘Florida 2a-qt. crate, $4.50; 16.0t., err! Califo ia Bings, 15-1b. ‘box, $293. Limes—Mexi: 20c. Ba-

Ul $1.65. Aricots—a4-1b, 1u, 4 Rasket & e, $1.7 ABLES 55. d — Bea. green, roun "$2. "Beets—Homearrots—California ower—California

n washed cumbers—

Plant—

Rom Cans Potatoes—Michigan Round ites (100-1b. bag). $3.25; new Triumphs j10-15 Dag} 34 hampers{(, $2.35. ey" Hal bw basket), 80c. Rbubarh—-Holne-

Be Fun th {bu.) ia, "Toms

41 STATE LOAN SOCIETIES HAVE I, S. CHARTERS

1 Indiana Ranks Seventh in

List of 40 States, ‘ Report Shows.

Out of a total of 1118 Federal save ings and loan associations, operating as members of the Federal Home Loan Bank system in 44 states, Ine diana now claims 41 of the associa= tions, the seventh largest total for any state, according to an announce= ment released today by the Federal Home Loan Bank Board in Washe ington. Since authorized by Congress four years ago, 81 savings and loan asso= ciations in Texas are now operate ing as members of the Federal Home Loan Bark system. This is the largest number for any state.

Ohio - Second Largest

Ohio, with a total of 81, has the second largest number now in oper= ation, and Illinois is third with a total of 80. Other states included in the first seven are California, with a total of 56; New York, fifth, with 53, and Florida, sixth, with 47.

The associations, better known as modernized home financed associa« tions, were designed to afford ine creased protection to the public's savings and to lower the cost of home loans by augmenting the volume of funds available for home financing in districts where local funds are inadequate. Under the new formation, existing d loan units were authore ! for conversion into the Federal ciations if they chose to do so.

din ir Somminities, the board report stated.

New Interest Taken

Indicating their importance, the total resources of these associations, consisting of both new and cone verted, now amount to $618,161,783, Total stockholders in the associa tions exceed 600,000 persons.

operations of the new associations are attracting a new flow of money to many local associations, expand ing their areas. Federal associae tions, as well as other qualified ine stitutions of this type, have received investments of government funds to expand their lending resources, the report said.

MORRIS PLAN DIVIDEND

Directors Vote Payment of 2 Pep Cent on Shares. :

Directors of the Indianapolis Mor= ris Plan Co. have declared a 2 per cent semi-annual dividend, payable to stockholders of record June 30, at was announced today. Walter B. Harding, president, said the officers note a return of confidence and optimism and & sharp increase in loan volume, pare ticularly in FHA mortgages made for home repairs and modernization work. The Morris Plan, he said, is taking an important part in the ads _ ministration’s program for better housing conditions.

Local Livestock

(Reprinted From Late Times Yesterday) x HOGS

Bulk.

[email protected] [email protected] [email protected]

py. 109021083 2. [email protected] 3 11. BG. 15

Light 1i (14 AH Good and choice. .$10.40 Mediu um 10.10 ( . 10.75 Mediu 10.40 ( . 11.00

ig 00-220 ) Good and choice.. 11.00 and choice. (320-350) Good and choice Heavyweights -290) ‘Good and choice... (290-350) Good and choice.. Packing sows

June. Top. 27. 29,

Deb ih hh kf et fh fb pd

Ore a

Good (275-380) Medium ....... eee

Slaughter pigs (1fo-1 20) Good and choice.. Me KUM cso psesnrrinssonssans .

CATTLE | Resa, 200— (550-900) Choice ........... “3 Good

“ses vscnse sscessnssssss

Medium °00, 71100) Choices .1:......... Good

cave inine siessasesnane Medium

vo memo 23 3383

0 0098 SS ewe

nN =n [N00 3883

eesescsvcesvas

m@ B03 In0aS3sh33sus

‘0990900990089

Common and medium ...... (120-500) Good and choice.... Common and medium ......

2 oasmo an

Good Common and medium sesesaes Lot cutter and cutter

SRBAN KIRIN IBAIVARINARID 23BL 8338% hiabRsIpihIIN

EBEED BEERS

bushe zs 31 $1 75. Poaonel. Medi rapes—Seed-'

—Receipts, Lambs, CholS vorerssni:o. S21

Medium sesessessunsrens we

Yearling ht aed

savesansssaninnnsy sonses Ssvesescessnennansse

Ewes 0-170) Good and cholice.. (ne and lamb quotations of J July 1, spring lambs

Numerous safeguards surrounding