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