Indianapolis Times, Indianapolis, Marion County, 28 October 1936 — Page 20
ya.
Eat ane mete ara Ra
ante shtiatit a t lt
ocd
ssifications of
Works, Inc.,
WEDNESDAY, OCTOBER 28, 1936
works manager.
$e Kansas City Southern Railroad has placed an order for 10 locomotives with the Lima Locomotive it was announced today by H. W. Snyder, No estimate of the cost was given, b but
it was understood to be near $1,000,000.
ge and Left Explained.
BY JOHN T. FLYNNae
YORE, CO¢t. 28.—The pact NM between Italy and Germany is without its practical repercusns here. It is essentially an pment between two first rank to act together to resist un iL But it is a little more that. It is practically a pact merely to resist, but to act in a live manner to stem the rise of radicalism in Europe, This is a nat-
which all else revolves, dwarfing all other issues, is the E struggle for Mr Fiysy, control of the economic system. Who will assume the power to direct the economic Jife of the different nations—the
. leftists in the interest of a social- = ied order of the rightists in the
interest of the profit system? More ‘particularly, is that contrel to be lotiged eventually in the hands of the people acting through their po-
litical state, or in the hands of the
t-making grou £88 groups, org ized as such? » » ~ E American who would watch the growing drama of this
capitalist
Ls " epochal struggle would do well to
rent schools straight.
his classifications of the curHere they
are, On the left (moderate left) is
' ® democratic capitalism under state “regulation.
Further left are the democratic socialists, favoring socialism by peaceful means and ruled by the democratic state. ~ Purther left are the syndicalists, favoring the assumption of ownership and control of the instruments of production by the workers in
each separate industry and a Fed-
| struggle stands in America. ~ between the moderate left-capital-"ism regulated by the democratic
|
eral state representative of these Ssyndicalist groups. ~ To the extreme left is commu- , with state socialism dominated by a dictatorship of the proJetariat. Now on the right is, first, demoeratic capitalism without state regulation—laissez faire. This is the doctrine which Mr. Landon is preaching
» ” FJ the right of this is capitalism, in which the economic elets of society are regulated, but the organized business groups— trade associations, subject, of course, fo & mild government supervision. would be the NRA. To the right of this is fascism, which combines two ideas. One is the economic state dominated by organized business groups and organized labor groups collaborating
= through the corporative state. The
other is the idea of the totalitarian
Tr = state, which is merely a fancy name
* dictatorship. Look these over and see how the It is
in oné camp; capitalism unted (laissez-faire) in another Pp and on the furthest right, in which the economic = is regulated by organized busi88 groups, through trade associa ODS or code authorities. In make your choice in this campaign, in a measure, choose between camps. Thus the battle beB in America. Ultimately we wil ee! the fascist army develop and br strength and make its claim A our affections. (Copyright, 1936, NEA Service, Ine.)
Other Livestock
oy Satie Press) 28. Ba Hogs Race} is, bere Foi Tuesday's best time,
x Sher than ne aver 3 80: Pik ood and uh
ofce, 1 [email protected]; fost 150 50-180 1 Ibs. $8.50
igh - pie. $7.50 a BY
ps 12,000; calves, 1200; steers, yearlings » and $11. 2" 1 higher op. or lon $11 for 1300-1b. steers; ve ue } lower grade steers, slow, steady; sheStock generally steady: vealers and bulls anch Buses” mostly $10 and $5.75 down,
pts, 11,000, jneiudsa Tend Fects: fat 1ambe slow 9 5 eady, oice =~ I RRA re, Ba a yet Te : Bch : mostly slaughter ewes, $2.50 AYETTE,
Saba: “abate ber $9.15 9.25 @9.10; 190-235") Hy 3.0% 190 Ibs. $8.09 : 150-178 he 75; roughs, 38.35 dues: fon-1% . 0 ; lambs, $8 down, falven H Market, ; -225 ’
— Hog! 3 ve eh oy
bs, $7.30. Roughs, 38: lambs, $8.50.
; calves, $10.50;
below, subject to <hs wholesale £5 ~ Oregon “Bos.
local ser: ox. Are,
COST OF LIVING IS 17 PER GENT
Placed at 81.4 by U. S. Bureau.
WASHINGTON, Oct. 28.—Republican campaign literature mailed to voters in the last few days makes a final effort to convince family that their incomes don’t go as far today as they did at some earlier period—presumably during recent Republican Administrations. However, cost-of-living figures prepared by the United States Bureau of Labor Statistics show that the average cost of living for families of wage earners and lower-salaried workers in 32 large cities is 18 per cent less than in 1923-25 and 17.2 per cent less than in June, 1929, Living costs average 10.1 per cent more than at the low point of the depression, in 1933, but are still far below costs in post-war years and at the height of -the boom. Food, the largest item in the family budget, is 16 per cent less than in 1923-25. Clothing is down 21.6 per cent. Rent is 35.8 per cent less. Fuel and light are down 13.6 per cent, house furnishing goods 22.6 per cent and miscellaneous items 3.6 per cent.
Average Index Number at 82
The National Industrial Conference Board, not connected in any way with the government, estimated on Oct. 3 that real wages are 3.6 per cent higher than in 1929. Taking 1929 figures as a basic 100, the board estimated that cost of living now is 83.7 as compared with 290 and that weekly earnings are 86.7. This puts real wages at 103.6 per cent of the 1929 figure, While the average cost of living in all 32 cities was represented by index number 82, in Chicago (where Republicans have concentrated their efforts to convince veters that meat, bread and other food items are too high) the cost of living is only 77.6 per cent. In Buffalo this index number is 84.1; New York, 83.8; Pittsburgh, 80.7; Cincinnati, 87.2; Cleveland, 83.4; Indianapolis, 81.4; Washington, 87; Birmingham, 76; Memphis, 80.5; Houston, 80.9; Denver, 83; ‘San Francisco, 84.5.
Chicago Stocks
(By Atkins, Hamill & Gates) Prev. Close
Butler Brothers Central Illinois Publ Service... Chicago Rivet and Machine Cities Bervice Connor enlh Edison DO cor Cran
Dayton Rube Dixie Vortex Economical Drug Electrical Household . General Household .. Godchaux Sugar “A” Great Lakes Dredge JArvis Co. cveeivecrvrnnes esas Katz Dru Ken-Rad be ‘eeve Libby McNeil And Libby. seasane Lincoln Prin Lion Oil Marshall Pleld . McCord Radiator McGraw Electric Mid-West te Preferred . Noblitt Sparks Northwest Ba Jublic Servi e Steel
New*York Curb
(By Atkins, Hamill & Gates) Noah Alun iugin Co of America .... American. namid “B” .... 35 Am ey <
per Carrier Corp . Oreole Pete Corp Electric Bond Fisk Rubber
Ford Moters Gulf" Oil “re n
Unlisted IY
(By Blyth & Co.) NEW YORK STOCKS
Bankers Trust ..... Wesabe ne . Sutral Hanover -
waranty Manufacturers Aas rs camara - 4
Nation Ci Nat Shawmut Bosten . First National Boston FIRE INSURANCE
“an sew
anid gupu-S2aska FREEE SEF
41% 12
ans Bus
5
FOR
FES
“Rass aR.
Avessnsndnenan
RANE #i
oi
ssssanes 1.18 saraeves 114% 1.00%
a
~ Sasnanen sasEAes Besinane
assenens sasanaa
eh
vs SEsaseae savruan
shiessaw
BELOW 29 TOP:
Indianapolis Index Number |
wn ied
FEE 22
+
New York Stocks |
(By Thomson & McKinnon) Low. A.M.
ips pe oil ... Oil
seswwe
J Un ron of Cal . Rteels Acme Roll Mills. 31% Seg co
5 30%
t heads | Byer
Varren Pinkney gb arren Youn't'wn S&T.. 86
Reo Studebaker Yeliow ‘Iruck ..
Motor Access—
18%
Be 29 Bohn Alum 43% Borg Warner ... 80 Briggs .......... 60 Buaa
Elec Auto Lite. , Elec Stor Bat. . Greyhound “BY. Houdaille Murray Body ... Stew Warner ... Timken Roll Timken Det Axle
Mining—
Alaska Jun ..... Am Metals
15%
Cerro De Pasco.. Dome Mines .... Gt Nor Ore ... Ins Copper .... 11 Int Nickel ..... Kennecott Cop.. McIntyre Min=..
U S Smelters.... Vanadium 23% Amusements—
Crosle P
Radio Corp . Paramount Warner Bros ... Tobaccos—
rillarda Phillip Morris. Reynolds T (B)..
Rails—
Atchison Atl Coan Lines. . IB & O
Br Wostineh Elec...1 Billitior~..
Am & For Am Fover *1 Lit 130
=
Western Union... ) Rubbers— Firestone ......: 3
ns Sere
Goo! U 8 Rubber U8 Rupber pid. Miscellaneous— Allis Chalmers. . Am Can
Ji%
=F
oy
11:00 Prev.
Close.
= 23 2
1512
1414
3 2
87
79%
bE Wisconsin Pub Serv 4s ‘61 ....
w 2 Si cERuss .
3 aa
Unit vi Chemicals— Air Reduction .. Allied er.
e. U 8 Indus Alco. 40 Drugs— Bois] pire oe 1
: 30%
em Zonite Prod Financial—
Lehman Corp .. Transamerica .. 14% Tr Contl Corp.. 9%
Am Radiator .. 23 Gen Asphalt ... 263% Int Cement . 59 Johns Manville, “128% Libby ens Gls 04 Otis 3313 US Be ais oe.
Household—
Col Pal ‘Peet.... Congoleum Kelvinator
Simmons Bed ... 4 Textiles—
Amer Woolen ... 8 Celanese Corp .. 26% Collins Aikman . gh
Indus Rayon . 28%;
Kayser Julius .
ew Bond Tous
(By Lyons & Co.)
Allied Shares 5Yas, J51 Arkansas Gas 4s ’'51 Associated Telephone 5 '65.. Am Tel & Tel 4%s ’61 B & O 4s “66 Bein Steel *33,s ‘66 Cal Ore Power Central Maine Tas 66 Central Maine Power 3! as 0 entral Ill Lite 3's £. ] ‘
Ask 00%
cc Corp 3s ’ 1 Gen Motors A Fo Corp 32s ‘51. Gulf State Steel 42s '61 Iowa South Utilities 528 '66. . Indpls Water 278 66 Kansas L P 4?
N Y Edi 3s Pacific Lighting. “aks '45 Peoples G > E Lite Wks '61.. Pann Jel
Lite 415s ‘
Railway ; G&E 58 66. .
San Diego
§ e {| Southern Cal Gas 4s '
‘Southern Kraft 413s '48 Union Pacific 3s 9 Wisconsin Gas & Elec 32s '63 ‘108%
1 105 is
Produce Markets
rices quote are paid for stock ga Ag in the country, while for delivSries” i Indiana PhS, § prices are 1 cent . Each f eggs must weigh Ibs.
885.) » sos 1 strictly fresh loss off, - a eavy breed ibs. and ‘over, . under 5 lbs. 2; RL breed hens, lor springers. ed prt = springIhe... hong breed sp Bareback
Hrs reed Bu ks. tun Teatbered, “5 of Te oes No. S: a a3%c. Buttertat. 2 136 ?
(By United 1 Press) [CAGO, Oct. ct. 28.—Eggs—Masket, firm; 1391 fresh graded firsts,
Er a “our ok “chicks. ' iy
a ees
Bc: color 1 a Ye: over, 5c; Oc. over
Ei
+ Standards, 3s
eese—Bwing, simi: dun daisies, ny 13@18
Ch Yee: horns, B Pot or te: for westi stock, dething ‘slow; with ignite sets. market barely steady, . YeaRer under{one; for best Colorado
it d : T. S. Commercials, = S0c@s1: Norte i. . Arrivals, : sh ts, 552. ? limes ——————
Bilas Whites, 1% Te. [email protected]%; Dakota rly
on track, 221;
NEW OFFICES OPENED
The United Securities Co., of Mis-
ha souri, have announced the opening
Building. C. H. Renner has been appointed Indiana manager, accord-
? | ing to Milton E. Ladish, national 1 2 «
Supervisor of sales.
U8ndtalia WEEE
LOCAL PORKER | MART FIRM TO TEN CENTS OFF
Weights From 190 to 300 Pounds Quoted at $9.35 to $9.50.
The hog market was uneven today at the Indianapolis Union Stockyards. The general market was steady to 10 cents lower with the 190 to 300-pound weights selling for $9.35 to $9.50 and those above 300 pounds at $9.10 to ‘$9.30. Sows
sold for $8.25 to $8.50, top $8.85. Receipts were 5000. In the lighter divisions the 170 to 190-pound weights were $5.25 to
$9.40; 160 to 170 pounders, $9 to $9.30; 155 to 160-pound. class, $8.90 to $9.25; 130 to 155 pounds, $8.15 to $9, and the 100 to 130 pounders, $7.65 to $8.40, Strictly good and choice prime steers and yearlings were fairly active and fully steady at the week's advance. In some instances the market was stronger although the lower grades were slow. Most of the cattle market was steady and active
Jon a run of 2200 cattle and 700
calves. Cows were active and steady. The heifer supply mostly was .of the lower graeles and the early demand was narrow. Prime steers of 1130
Today Yesterda ay ... Week
ed
3%s, 1964 ...... Ss, 1948 ......... «es 103.13 103.17 3s, avon .. 104. 2%s, 1949 .......
Amer Skins Milla 4% Lone r Cons} Pure ors Stude Cr
(Reprinted From Late
DAILY BOND IN (1826 Average 20 20 Inds, a veresese. 929 98.9 : 928 X00 933 1000, 9 a1
79.5 100.4
90. 84 ant fori: by by stands Statistics)
U.S. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasurys :
fiese ASABE + xerarerrnnn ns 1940-43 nelle d crrenrarrsens: 108.91 8, 104143 ...ceuiresrenns 108.30 1043-45 ....iuiveerenns 108.11 103.28 is D2 ieversenr.eness 106.18
1944-54 ............
Sesessssvessaas
8, 13414 Sean
3igs, 1949. 3577100108 <r. rennesnat "| were steady 10 strong and the bulk | 3. Hii3 Jo 2
46-48 ..e.cc0iiensinnes 0eh0 J940-91 ssesssicassses, 104.1 1948-5 a 1s a8, 1831.31 svsssenaes 101.17 195660 .......c.0000.. 101.20 1956-60 ............... 102.16
HOME OWNERS LOAN CORP.
1042-44 ............... 101.20 101.25 trsseiveiennnes + 101.20 101.21
2%s, 194 88, 1900 oens oes saesedin, 103.90 103.11
FEDERAL FARM MORTGAGE CORP, 104.16. 104.17
1942.47 104.30
102.24
Today's Bond Teagers...
Close. '45..122
essvesal
19 eeeee. 134%
Close
Alles gory > 44 ieiiinnann, :
Ss "49 er
pounds and down were quoted at | ary
$10.7 and prime 1405 and 1435
pounders and the medium weights | atch
were $10.50. Medium heifers brought $6.50 to $8. Beef cows brought $4.25 to $4.75, the cutter grades, $3.25 to
$4. Vealers mostly were 50 cents Bel
lower, the bulk of the good and choice selling for $9.50 to $10.50. Lambs were strong to 25 cents higher with the bulk of the good and choice bringing $8.75 to $9.25. Fat ewes were steady at $3.25 down. Receipts were 2500.
HOGS Receiots. 6000 8000 2500
23. 24, 2 60 9.35@ 1,000 Lens Ligchts— 140-160) Sood E and e
Lightweights— (160-180) Good and Medium (180-200) Good and edium Medium Weights— (200-220) Good and (220-250) Good and Heavvweights— (250-290) Good and (280-350) Good and Packing Sows—
choice. .$ 3 sa 9.25
8@ 9.35 9.15 45 25
choice. . “choice. .
8 S3eda-3 oh ron
Sadie 35 89 89%
choice. . choice. .
choice. . choice. . .
330008 bo ©» Poon a1 @Made Roa GR ANTS O° ©
9. 8. 9.5 9.4 8.8 8.5! 8.7 8. F 8.4 8.5
i eteipts, 2200— (550-900) Choice .
23 A3\ od
x
iE 93333399399
WOINONMIBOMI OD
> pSnaSanso
C (900-1100) Good
oD rea NDONG
C (1100-1300) ¢ Gi
Sy eeeoususe OSS oSDneSSSS
33533 et
Mi (1300-1500) Good
—
(550-750) Good
smn «IDI IDI BS Gra OTN 03393 ©5003 Nanni SRO Grn
C ('750-800) Ci
SSRI
Good Cemmon ‘and medium Low cutter and cutter Bulls, good Cutter, com. and med. bulk, Vealers —Recel is, 700— ep . [email protected] 8.00@ 9.50 4.50@ 8.00
99333 nbn
»
Good and choice Medium
ec ints, 9373 | ®
8.20
'(450- hoice..$ 6.00 (250 5m) Good and shete $ $302 8
mmon, medium. Stocker Cattle L.00@ 17.25
7, Feeder a (400-800) Good And Shale, Se..9°4.
-1050 and alum. ‘8.00@ 17 a on 1050) Good end medium. 475@ 6.00 e
Good and choice oe Common and medium ...... 4.50@ 525 Cows ! KFOOA . iv. evonsiansenacs PE $ 4.25@ 4.50 Common and medium 350@ 4.25 SHEEP AND LAMBS
—Receipts, 2500— $8. jaa 1 9. 35
Dommon ran. "
(90-170) Sood aud d cholce:. . {Sheep he amb. I basis
Money and Exchange
INDIANAPOLIS STATEMENT Suimrings Cede ura ts sata ++ -$274L.000
: TREASURY STATEMENT : (By United Pross) 'ASHINGTON. Ost. 38. Government expense and Ne fx the current A
fo 3.25 @ 2.50 ons on OG nn
year to a tae
gash bal, 436 Sh Aakd 583 3,104
170 \{ ceeded $500,000,000 compared
s 00 | Erie 5s ’67 Grt Northern ‘G’ 4s 8 Grt Northern ‘H’ 4s ' Son eras ie se 8.75 | Hud Mant
G & E Portland Ge Bars Publix 6: Penn P ‘Postal Tel &
Rem Rand WW 4Ys Shell Union Oil 3358 Socony Vac 3las '50 Sou Pac 44s = ie
Pac bs
7. oe Third Ave Ads, 3s’en’.... cc: Union Pac 4s 47 Unite
‘| Argentina A 6s
fal
| garage, $200.
Fren a, 5.950 6.50] conch Tas, 41
$1.09 for No. 5 | grades on their merits. Cash corn new No. 3 Jeow, 94c; oats, No No. 1 er
Youngstown S & Youngstown 8 & : 3%s ‘51 .
FOREIGN T ceveinees 102
05 Jusiralis a: F288 Jiiiiei edie ma 3% Brazil 8s * i 1%2
ceva
. : 5% Canadian Govt “457760 ..... 1. Denmark 4Y%s 1199
88 ..iiiinii.e OF 153
AL CASH Ss
City in elevatogs are paying 1 red wheat. Other
timothy, [email protected]; $14.50@15. 50; No. 1 alalfa, first cotting, [email protected]; séc-
ond cutting [email protected].
Building Permits
Sifter, Kins, 3816 Englencar
James 8. Sutrelle, 115 Mount-st, garage, Gilek & Co, 21 8. Delaware-st, electfical, A A Williams, 2507 BE. 18th-st, garage, harles S200 TY, 20 Washington-pive,
| early
COMMITTEE MEMBER
“ The Committee on Banking of the American Bankers’ Association, which is making a comprehensive study in credit structure, is to meet Dec. 4 in New York, it was announced today by its chairman, Wood Netherland, vicepresident of the Mercantile-Com-merce ‘Bank and Trust Co. St. Louis. Evans Woollen, chairman of the board of the Fletther Trust Co., is a member of the committee’s executive committee,
EXTRA DIVIDEND PAID BY SEARS
Distribution to Avoid Tax Announced by Mail Order House.
By United Press CHICAGO, Oct. 28.—Sears, Roebuck & Co., mail order house, today undertook distribution of a major part of its earnings to stockholders to avoid payment of a Federal tax on them. President Robert M. Wood informed stockholders that company income for the 1936 fiscal year exto
$276,000,000 for the 1932 fiscal year. “In the opinion of your officers and board of directors, the company is not justified in paying such a_ large surtax, to avoid which the major portion of our earnings must be distributed to the shareholders,” Gen. Wood said. A Christmas bonus varying from oneahalf week to two weeks’ pay will be paid the company’s 50,000 employes, capital stock will be increased from 5,200,000 to 6,000,000 shares, and an extra quarterly dividend of $1.75 will be paid shortly. Another extra dividend will be paid early next year, Gen. Wood indicated. .
Other SF odstock
(By Times Special) LOUISVILLE, Oct. 28.—Cattle—Receipts, 500; most «lasses of cattle steady with week's previous levels: bulls weak to 25¢ off today, stly 25c off or week; odd lots medium * steers and yearlings, $8@ 7.25; plain, $6 down; most medium bulls, [email protected]; ex ames, 5. Calves—Rece 300; vealers opening slow with ery attepting closer sort; few opening sales, however; steady choicé yealers comparatively scarce; few, $10.50; better grades Iargely $0 and Hogs—Receiptis. 750, includin 150 direct; market FE achive; ully steady:
sa butchers, $9.40 $9.45; boss with more
LIVESTOCK MEN
HELP 4-H CLUB SELECT CALVES
Ship 900 Head From Texas
Ranges to Be Used in Project.
Agricultural agents, vocational teachers, the Indiana Farm Bureau and the Producers Commission Ase sociation at the Indianapolis Stock yards are co-operating with the 4-H Beef Calf Club to make suitable calves available for this project,
Edmond C. Foust of the Indiana Farm Bureau, announced today. “More than 900 calves reached the stockyards Monday, Mr. Foust said, to be distributed to members of the club in all parts of the state, These calves were selected by representatives of the Producers, from rangers in’ Texas and New Mexico after orders from the club were pooled. “These selected calves will save many boys and girls from being disappointed in their club work through starting the project with inferior stock,” he declared.
Calves Drawn by, Number
Each member draws his animal by number and no favors are shown, Mr, Foust explained. In most cases, ‘the financing was handled through the Agricultural Credit ' Corp, a subsidiary of the Indianapolis Producers, he said. This is perhaps one of the greate est co-operative livestock ventures in the state, and will be watched very closely by the entire livestock industry, according to Mr. Foust. “Since they were purchased on the basis of their commercial value, their sale on the same basis will be both pleasing and profitable to the youngsters who work so hard to
place their calves at the head of
the line,” he said:
REGISTRATION REPORT FILED Times Special ~ MINNEAPOLIS, Oct. 28.—Mine neapolis-Honeywell Regulator Co. has filed a statement for the ise suance of 25,000 shares of new 4 per cent, convertible preferred stock, series B, it was learned today.
OFFICE SUPPLIES * STATIONERY 1
*¥ FURNITURE *
<Q Vv
~ Gem Paper Clips
40: x
Blotter Pad
49:
Second Sheets
65:
Zipper Cases
TScw
[3
Ry 9
LES 101 1.1
E
y
Wolghs absent ekry top, $9.45: email lot two me around 200-1b. eights. $9. 10; a 7 5Y@1. light a on
butelier r order aotabie. to to x 2d thoy ve. to 25c higher: y TR "grades largely oh 8.50:
an IL pe to tty 1 itchars, 48 , ty Receipts Tu gsday Cattle, 540: calve To 0 93; “eat Li nipments y >: ves, e; 8, 244; Shoe, 264. 5
T
We carry everything used in an office
44 E. Wash St. LL 4571
’
\ 31,
are exempt from taxatio incom
Bureau of T of Internal Revenue has rul tions is exempt from Federal income tax
these bonds when it beco Tue are ae Ne ears beginnin of twenty-five y 7500.00 « annually for the first twenty- i Maturities—Jan, 1, 1938, to Jan. 1, 1962,
William H. leg, Indianapolis
417 Circle Tower
Offers and gales made only to residents of the state of Indiana
$114, Marion National Guard Armory
FIRST MORTGAGE BONDS
Boa issioners has held that similar issues TE a oh in the ‘slate’ of Indians except inheritance and state Xe. e latter is Ee ed that income derived from similar obliga
The title to the Armory ww held in trust for the State until final pa es the absolute pro e State of Indiana
Le ality approved by Messrs. a Jones, Hammond, Buschmann & Gardner and
CITY SECURITIES CORPORATION
Phone, Lincoln 5535
000
%
to be applicable, The United States
of rty of the State o i iy or [LhYohal stard purposes 108
January 1, twenty
ur years and $6.567.50" for the
Priced to yield 27% to 3.40%.
* Indianapelis.
I
M——
ithern Indiana Gas and’ Electric Co.
AR % Preferred Stock, Cumulative
stances to be construed as an offering of 38
Par value of shares nw’
$4
Price s10475 a Share
offer to uy say of tus. :
£8
