The Indianapolis times. [volume], August 09, 1934, Home Edition, Second Section, Page PAGE 15, Image 15

About The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965

Image provided by: Indiana State Library

                
AUG. 9, 1934
Wall Street
Senate Committee Takes
Extreme Stand in Its
Financial Report.
—BY RALPH HENDERSHOT—
Tune* 'penal financial Writer
TN its second report on its Wall
Street investigation the senate
banking committee demands that
investment bankers eliminate from
among their numbers those individ
uals who do not have the proper
regard for the interest of investors.
It maintains that only by a thor
ough housecleaning can abuses such
a s occurred
between 19 2 6
and 1929 be
eradicated.
"The invest
ment banker,”
the committee
held. "shou.d
be a disinter
ested inter
mf diary be
tween the issu
in g corpora
tions and the
investing pub
lic. The colos
sal loss sus
tained by the
public on bond
’* % -Ts
llrndershnt
Issues sponsored by investment
bank r rs manifests that these bank
ers were either incompetent or dere- |
liet in the performance of their j
duties."
Tli** cor kes a rather ex- ;
treme position. Its stand might
even be called somewhat idealistic !
and impracticable. Investment]
bankers are merchants of securities,
and as such their relationship to ;
those with whom they do business
is much the same as the merchant
who sells dry goods or potatoes.
They will sell only the type of se
curities lor which there is a de
mand, and they will buy only such
securities as th:y can resell at a i
profit.
an a
investment bankers have
made a great many mistakes
can not be questioned in the light
of present-day facts. That they
took a great many chances they
should not have taken also is ob
vious. Good business judgment
should have prevented most of them.
In all probability if they had it to
do over again they would be much
more careful. Their actions have
cost them many of their clients, and
their reputations have suffered se
verely.
In addition to being much wiser
today than they were during the
time they put over many of their
questionable deals, we now have a
law which makes it necessary to
put the proper label on their goods.
To misrepresent from now on will
be a very dangerous thing for them
to do. Some think the regulations
in that respect have been a bit too
severe.
m m m
BUT to expect them to police their
own territory strikes your cor
respondent as earning their re
sponsibilities a little too far. One
department store hardly would be
expected to initiate proceeding
against another to lorce it out ut
business, even if it indulged in sharp
practices. It is doubtful that it
could do so if it wished.
Investment banking firms have
the same difficulties. They have
an Investment Bankers Association,
and this association seems to be
doing its best to raise the standard
of business ethics in the field. Even
during the period when so many
bad loans were being floated that
association was calling the publics
attention to irregularities which ex
isted. The records will show, lor
instance, that it severely criticised
real estate financing practices.
ana
BUT its efforts were not very
fruitful. Our legislators and
other public officials did not ap
pear sufficiently interested at the
time to follow through on its sug
gestions ana recommendations. Ap
parently it was necessary to await a
sufficiently aroused public opinion
before action could be had. No one
thought of a senate investigation
at that time. We were supposealy
in anew era.” and the future was
expected to pay excellent dividends
on the risks then taken.
It also is difficult to see how an
investment banker can become a
••disinterested intermediary between
the issuing corporations and the in
vesting public.” The moment he
does so, just at that moment is he
likely to be headed toward bank
ruptcy. He can no more afford to '
forget the law of supply and de
mand than any other business man.
When we are in a buyers' market
he will, if he Is wise, favor the buyer,
and when we are in a sellers' mar
ket. he will get in his best licks
with the sellers.
N. Y. Coffee. Sugar Futures
—Auk. •
COFFTE
SlßlM —
High. Low. Close
March 11 0* It 04 11.04
Mav 11 03 10 91 11.03 I
“tv 11 13
September ISO 1 lO 89
December - 10 99 10 76 10 99
—Rio—
March J 34 823 831
Mil * 40 S 29 8 38
July *
September Jl2 80* 812
December 8..4 8 15 8 24
SUGAR
Hieh. Lo_ Close_
Januirr ............. iBB 187 iB7
March 191 190 }9O
.Tulv .............. 2 00
September 1 80 1 79 1 80
December 18< 186 l.Si
In the Cotton Markets
—Auk. 8
CHICAGO.
High. Low Close
January 13 90 13 49 13 88
March 14 01 13 60 13 99
Mav 14 07 13 65 14 05
October 13 70 13 29 13 68
December 13 85 13 44 13 85
NEW YORK
March 14.00 1J 53 13 94
Mav 14 05 13 61 14 00
j t ,jv 14 08 13 64 14 07
October 13 68 13 21 13 63
December 13 84 13 36 13 78
NEW ORLEANS
January
March 13 I* 13 50 i3 94
Mav 14 04 13 57 13 99
ihlb . 13 64
December 13 81 13 33 13 77
Retail Coal Prices
The following price* represent quotations
from leading Indianapolis coal o*alers A
cash discount of 25 cent* per ton la al
lowed A 25-cent carrying charge per ton
will be added:
DOMESTIC RETAIL PRICES
Anthracite * l ?
Brazil Lump J-J
Brazil E *9O
Brazil Mine Run 5 25
Coke. But Sire 8 50
{tc Silf *-*-*•* • ■ ®
Indiana Forked Lump No. 4 and 6 5.75
Kentucky Lump. Group B -15
Pocahontaa Lump ■ J;
Pocahontaa Eck •■■■ *35
Pocahontaa Mine Run 3 90
Now Kmr Smoalen >.M
NEW TREASURY
MOVE CONFUSES
STOCK TRADERS
Street Regards President
Roosevelt’s Speech as
Bearish.
BY ELMER C. WALZER
I nited Pro Financial Editor
NEW YORK. Aug. 9 —Markets of
the nation were confused in the
afternoon dealings today and so
were the traders who interpreted
variously a silver nationalization
plan and a speech by President
Roosevelt.
Wall street regarded the Presi
dents speech as bearish, but just
as it received the account of it.
Secretary Morgenthau announced
the treasury would take over all
domestic silver. The latter item
was interpreted in some quarters
as inflationary. Europeans sold the
dollar, and the pound sterilng
crossed $5 07. bringing the London
gold equivalent above American
parity.
U. S. Bonds Active
Meantime some shorts covered in
the metal shares. Momentary
strength in the latter was helpful
for the main list. But another re
action wiped out the gains. There
were other spurts of the miners, but
on each stock was encountered. The
general level of the market, how
ever. held above the day's lows with
prices irregularly higher.
There was more trading in United
States government bonds than in all
other groups combined. At 1 p. m.
the federal government loans had
a turnover of $5,580,000. while
foreign loans had sales of $750,000
and domestic issues, 53.680.000.
Prices of the group of governments
were depressed 1-32 to point in
the early trading but after the Presi
dent s speech they recovered sharply
from the lows.
Commodities behaved about the
same as the stock market, rising
one minute and falling the next.
Cotton futures rose sharply from
their lows a nd made new highs for
the season.
Silver Trade Suspended
Grains rose, fell, and rose again.
Silver futures were 50 points higher
to 60 points lower when trading in
them was suspended by Commodity
Exchange, Inc., at 12:03 p. m.
Early in the fourth hour. United
States Smelting was at 135'-, up
3 *; Cerro De Pasco 40 •%, up I'*;
Bethlehem Steel, 27%, up %;
American Smelting 37%, up 1%;
Dome Mines 43%, up •%; General
Motors 29, up %; Howe Sound 54%,
up 1: Montgomery Ward 21%, up
%; Chrysler 31%, up %; and Du
Pont 87. off %; and United States
Steel 34. off %.
Money and Exchange
INDIANAPOLIS BANK CLEARINGS
—Auk. 8
Clearings $1,947.000 00
Debus 4.466.000.00
FOREIGN EXCHANGE
(Bv Abbott. Hoppin & Cos.)
—auk. 8—
Close.
Sterling. England *5.06
Franc. France 0663
Lira. Italy 0862
Belgias. Belgium 2362
Mark Germany 3925
Guilder. Holland 6802
Peseta. Spain 1374 \
Krone. Norway 2543
Krone. Denmark 2260
Treasury Statement
(Bv United Press)
WASHINGTON. Aug 9.-Government,
expenses and receipts of the current
fiscal year to Aug .. compared with
corresponding period of the prevous fiscal
year;
This vear. Last year.
Expenses . $ 590.337,283 66 $367,521,270.27
Receipt .. 319.371.730 54 221.399.560 49
Deficit .. 270.965.553.12 146.121.709.78
Cash bal.. 2,420.363.271 25
Investment Trust Shares
(By Abbott. Hoppin & Cos.)
—Aug. 8—
Bid. Ask
American Bank Stocks Corp.. 100. 1.04
American & General Sec A.. 350 450
American & Inv Tr Sh 1.75
Basic Industry Shares 2.80 2.90
British Type Inv Tr Sh 30 38
Collateral Trustee Shares A 3.90 420
Corporate Trust Shares (old) 1.77 181
Corporate Trust Shares inewi 200 205
Cumulative Trust Shares ... 342 3.52
Diversified Trust Shares A ... 625 ....
Diversified Trust Shares B ... 6.62
Diversified Trust Shares C ... 263 2.70
Diversified Trust Shares D ... 4.05 4.20
First Insurance Stock Corp-.. .50 1.00
First Common Stock Corp ... 50 55
Fixed Trust Oil Shares A.... 7.00 ....
Fixed Tiust Oil Shares B ... 600
Fundamental Investors Inc .. 167 185
Incorporators Investments ... 15 62 16 00
Land Bank Bond Shares ..... 1.14 1.27
Low Priced Trust Shares ... 485 4.95
Mass Ini Trust Shares 17 50 17.75
Nation Wide Securities .. 285 2.99
North Am Trust Shares <63> 167
Nor Am Trust Shares (55-56) 204 2.08
North Am Trust Shares (58• 2 05 2 10
Selected American Shares 2 16
Selected American Shares Inc 99 1.08
Selected Cumulative Shares .. 577
Selected Income Shares 299 3.50
Std American Trust Shares A 260 267
Trust Shares of America .... 250 256
Trustee Std Oil A 5 05 5 30
Trustee Std Oil B 450 465
U S Flectric Lt & Pwr A ... 1112 1162
Universal Trust Shares 2.60 265
New York Bank Stocks
ißy Abbott. Hoppin & Cos.)
—Aug. 8—
Bid. Ask.
Bankers 58% 59
Brooklyn Trust . - 88 91
Central Hanover 125% 126%
Chase National 25% 26%
Chemical 41% 41%
National City 24 24%
Corn Exchange 48 48%
Continental 12 12%
Fmpire 18% 18%
First National 1.535 1.550
Guaranty .. 343 345
Irving 16 16"*
Manhatten & Cos 28% 28%
Manufactures 20 20%
New York Trust 93 99%
Public 30 30%
Daily Price Index
/Bv United Press)
NEW YORK Aug. 8 —Dun & Bradstreet's
daily weighted price index of thirty com
modities compiled for the United Press:
i1930-1932 Average 100)
Todar -New 1934 High) 119.19
Yesterdav 118.11
Week Ago .. 115.48
Month Ago 111.36
Year Ago (Aug. 3) 104.88
1934 High (Aug. 8) 119.19
1934 Low (Jan 3> 10105
Copvright 1934. by Dun and Bradstreet. Inc
Bright Spots
■ By Abbott. Hoppin & Cos.)
Pere Marquette Railroad Companv car
loading* for the week ended Aug 4. totaled
8.815 cars, as compared with 8.737 in the
previous week.
Phillip Morris Continental Tobacco
Companv reports that business increased
140 per cent this year.
American Petroleum Institute in the
the week ended Aug 4. announce a de
crease in gasoline storks of 3*7.000
barrels, to a total of (6.31A.MM barrels,
a decrease of 561.H1M1 barrels was shown
for the previous wreck.
Union Tank Car Companv declared the
regular quarterly dividend of 50 cents.
Tin Consumption Increased
By t (m<* s [ifrial
CHICAGO. Aug. 9—World con
sumption of tin for the year ended
May 30. increased 27 per cent, ft
was reported by the New York of
fice of the International Tin and
Research Development council.
These figures were 129.000 long tons
against 101,765 the year before.
New York Stocks
—————— ———— B> Hoppin k Cos ————
AVERAGE STOCK TRICES FOR WEDNESDAY Net
High. I ,n. Close, change.
Thirty industrial* 89.28 87.16 88.97 •’■lso
Twenty rails 34.13 32.85 33.93 - .47
Twenty utilities 20.20 19.78 20.10 -.25
Forty bonds .... 93.1 < .29
Ten first rails .... I® l -* 6 — 'f 4
Ten second rails .... .... 75.71 .74
Ten utilities .... 98.79 4- .03
Ten industrials .... .... 97.34 4- .02
-Off. - Up.
—Auk 9
Prev
Oil*— High. Low. 10 00 cios*
Amerada ... <5% 44%
All Rfg 24% 23%
Barnsdall 6% 6%
Conaol Oil 8“ 8%
Cont of Del 17%
Houston inew i
Houston *old i ... ... 15'*
Mid Com Pet 10% 10%
Ohio Oil 10
Pet Corp .... ;%
Phillip* Pet .. 16% 16% 16* 16
Plvmouth Oil .. . • 9%
Pure Oil 8 7%
Sbd Oil 25%
Shell Un ~, 6%
Soc Vac 13% 13%
SO of Cal . - 32% 33
SOof N J ... 43 42 a 42% 43
Sun Oil • 62%
Texa? Corp 22% 21% 21% 21%
Tidewater Assn • 9% 9% 9% 9%
Un Oil of Cal 10% •••
Steels—
Am Roll Mills „16 16%
Beth Steel ■ 27% 2i% 2.% 27%
Bvers AM 14% 15%
Col Puel k Iron 5
Inland Steel 38%
Ludlum Steel ■ 12%
McKeesport Tin 86 80% 86 .
Mid Steel 8%
Natl Steel ••• 38% 38'*
Otis Steel • 4%
Ren I A: S . 13% 13'* 13% 13%
Rep I S pfd. .. - 38%
U S Pipe k Fdv 17% 17%
U S Steel 34% 34%
U S Steel pfd 81
Warren Bros
Ygnstown S k T I 3 "
Motors—
Auburn 19 19
Chrysler 31 30%
Gen Motors 28 * 28%
Oen Motors pfd 101% 102
Hudson <*
Hupp 2% 2%
Mack Truck ?3%
Nash ... 137a 14
Packard 33
Studebaker 2% 2%
Yellow Truck 3%
Motor Access—
Bendix 12',a 12 V* 12' 2 12%
Bohn Alum 52
Borg Warner - 19%
Briggs 15% 15 a
Eaton Mfg 13% •
Elec Auto Lite. 17% 17
Houdaille “A” 3%
Mullins Mfg
Murray Body 3
Stew Warner s'a *>
Timken Roll 26 3
Mining—
Alaska Jun 21 20%
Am Metals 19 18*s
Am Smelt • ■ ■ 35 * 35 1
Anaconda 11% 117* 11% 11%
Cal k Hecla .. ■■ • .
Cerro De Pasco 39% 36% 38 * 39 t
Dome Mines ... 43:* 43% 43% 43%
Granbv ‘
Gt Nor Ore }" 2
Howe Sound 53% 53
Ins Copper ••• 3*2 3v
Int Nickel 24% 24% 24% 247s
Int Silver 24
Isl Creek Coal 23 2
Kennecott Cop .... ... 18% 18%
Mclntyre Mine . •• . 48 48
Noranda Cop .. 42% 45% 43'* 43
Park Utah ... . 37* 3%
Phelps Dodge .. 15% 15% la% Jo%
St Joe Lead ... 17% 17
U S Smelters . ..132% 13112 131% 132%
Vanadium 16%
Amusements—
Croslev Radio .... ... ... 14%
Fox Thea 10,,
Loews Inc .. ... 26% 26%
Radio Corp 5% 5%
RKO 2 1%
Warner Bros ... 3% 374 374 3%
Tobaccos—
Am SnufT ... 60
Am Tobacco A 72' 2 73
Am Tobacco B 74 (5
Gen Cigars 41%
Ligg k Myers B .. ... ••• 94%
Lorillard •• 17%
Reynolds Tob B 45% 45
Rails—
Atchison 47'* 47%
Atl Coast Lines 27
Bfi O 15% 15
Can Pac 14% 14%
Chi k Ohio . ... 41% 417* 41% 40%
Chi k Gt W 2 2%
Chi k Gt W pfd 4'* 4%
C M At St P 3
C M At St P pfd 4%
Chi N W 5% 5 la
Chi N W pfd 10
Dela At Hud 3
Del Lac At W 15% 1574
Erie }2
Grt North pfd ... ... ... 14
111 Central *6
K C Sou 8
Lehigh Valley 10^.
Lou At Nash 43% 43%
M K At T 5% 5%
M K At T pfd 15
Mo Pac • • - „, 8
N Y Cent 20% 20% 20% 21
N Y Chi At S L 10%
NYC k St L pfd 20%
N Y New Haven 10
Norfolk At Wes 170%
Nor Pac 16% 16
Penn R R 22% 22 22 22
Sou Pac J] y
Sou R R 14% 147a 147a 14%
Sou R R pfd 18%
Union 93
West Maryland. .. ... ... 84
Equipments—
Allis Chalmers ?1;%
Am Brake Shoe 21%
Am Car At Fdy 14%
Am Cr At Fd pfd 35
Am Mach At Fdy 13 >4 13%
Am Steel Fdy 13 ••
Bald Loco 7% 7 s
Burroughs 11% 11%
Case J X 39% 38 a
Cater Tract , ••• • f®, *
Deere At Cos ... 13% 13 13 13/2
Elec Stor Bat 39
Foster Wheeler 11
Gen Am Tk Car 31%
Gen Elec 18% 18%
Ingsol Rand ... • •%
Int Harvester 2a% 25%
Pullman Inc 39 2
Rem Rand 8% 82
West Air B - • • • • • 17 4
Westingh Elec .. 31 307* 31 31
Utilities —
Am At For Pwr 5 5%
Am Pow Ai Lit , <%
AT&T .... . log 3 * 1097*
Am Wat Wks . 16% 16 16% 15
Brook Un Gas .. ... .• 59
Col Gas & Elec .. ?% ? ,
Com At Sou 1% 17a 17* 1 *
Consol Gas .... ... 28 28
Elec Pwr & Lit. 4
E P & L pfd
Int Hydro Elec . • , „ ••• 4%
Int T & T .9% 9%6 9% 9%
Nat Pwr & Lit . • 8%
North Amer ■ 13% 137* 1374 13%
Pac G & E 15%
Peoples Gas 22 2
Postal Tel pfd ■■ }2%
So Cal Edison . ■ , 14 13_'s
Std Gas ... 8% 8% 8% 7 3 *
Std Gas pfd 8% 8
Stone & Webste r.. s.. .. 5%
United Corp 4 3*
Un Gas Imp 4
Western Union 34 34
Rubbers—
Firestone I^%
Goodrich
Goodyear * ■},?
Kelly Spring ... •• ••• • \ *
U S Rubber . 14% 14% 14% 14%
U S Rubber pfd. 34% 34 34 34
Miscellaneous —
Am Bank Note.. 14% 14%
Am Can 93% 93 93 93%
Anchor Cap ... ■ •
Brvln Man Tr • 43% 42 42 42
Conti Can ‘J
Curtis Pub 16%
Curtis Ptib pfd 73
Eastman Kodak ?7_*
Gillette J* "
Glidden • a
Inter Rapid Tr. 8 a 8% 8 a a
Owens Bottle ... ... ••• 64 2
Ravbestos Mfg
Foods —
Am Sugar 6^
Armour A ■ . 5 3 * 5% 5 3 a 5
Beatrice Cream 13%
Borden Prod 25 3 25%
Cal Packing 38% 38%
Can Dry G Ale 15%
Coca Cola 133%
Cont Bak A 6%
Corn Prod ... 57% 57%
Crm of Wheat .. . 32
Cuban Am Sug 7% 7% 7% 7%
Gen Foods ... 28% 28%
Gold Dust 17% 17%
G W Sugar 32%
Loose Wiles 39
Natl Biscuit 32% 32%
Natl D Prod 16% 16'*
Puritv Bak 10% 10-%
S Por Rico Sug 33%
Spencer Kellog
Std Brands 18% 18% 18% 19
Un Biscuit 24%
United Friut 69 69
Retail Stores—
Assn Drv Goods .. 9
Best & Cos. 40%
First Natl Stores 67
Gimbel Bros 3%
Or Un Tea 4%
Hahn Dept Sts... .* ... 4% 4%
Kresge S S 1.%
Kroger Groc 29
Marshall Fields ... ... 8% 8%
Mav Dent St. . .. ... . ... 30%
Mont Ward .... 21 s * 2174 21% 21%
Natl Tea 7%
Penny J C 56% 56%
Safeway St - 5 3 a 44%
Sears Roebuck . 32% 32% 32% 33
Woolworth ••• 48% 48%
Aviation —
Aviation Corp .... ... 4% 4%
Curtiss Wright ... 2-* 2%
Corns Wright A ■ 8% 8%
Douglas Air li% li% 17% 17%
Nor Am Av 3 3 3%
Speerv Corp , ,!%
Cn’ied Aircraft . 15% 15% l* 5 * 15%
Wright Aero 46 46%
Chemicals —
Air Reduction 95%
Allied Chem 125
Am Com Alco 251*
Col Carbon .... • 66 66
Com Solvents ... 17% 17% 17% I^%
Dupont . 81% 81 81 B.'*
Freeport Tex ... •• ••• 28% 28
Liquid Carb 21%
Malh Alkali - 27 27
Montosonta Ch. . . 48%
Natl Vit mewll% 13% 13% 18%
"
THE INDIANAPOLIS TIMES
Scheneley Dist 19% 19%
Tex Gulf Sulph 31%
Union Carbide 40 39%
U S Indus Al 36%
Drug*—
Cotv Inc .. ... • 4%
Lambert 23% 23%
Lehn & Fink
Un Drug 11% 11%
Zonite Prod 3'a
Financial—
Adams Ep , 6% 6%
Allegheny Corp . • 2
Am Int Corp • 6_
Chesa Corp 38% 37%
Lehman Corp 65% 65%
Transamerica 5% 5%
Tr Conti Corp 3'a
Building—
Am Radia'or 11% 11%
Int. Cement 21 % .
Johns Manville . . 41’a 41%
Libby Owens Gls 27% 27 27 26%
Otis Elev 14
Household—
Col Pal Peet 14%
Congoleum 26% 27%
Kelvinator . 12%
Mohawk Carpet ... ... 15% 15%
Proc & Gamble . . 35% 35%
Simmons Bed .. 10% 10% 10% 10
Textiles—
Amer Woolen 8% 8
Belding Hem 11
Celanese Corp 20%
Collins Aikman 12% 12%
Gotham Hose 4%
Indus Rayon 22% 22
New York Curb
ißv Abbott. Hoppin & Cos.).
—Aug. 8—
Close. Close.
Allied Mills 7% Imperial Oil Ltd 14%
Am Cyanide B' 17% Hud Bay Min . • 13%
Am Gas & El 22% Int Petrol 26
Am Superpower 2 Lake Short Min 55
Assd Gas & El % Libby McN Lib 6%
Atlas Corp. ... B%iNatl Bell Hess.. 21-
Carrier Corp, . 9% Newmont Min .. 46
Cities Serv ... 1% Nia Hud Pwr . 4%
Con Gos Balt.. 61 INovadel Agene. 19%
Cord Corp ... 3%iPan Am Airways 32%
Creole Petrol 11% n enn Road . .. 2
Crown Cork Int 6% St Reg Paper 2%
Deere & Cos. . 13%:5al Creek Prod 6%
Distillers Corp. 12'Sherwin Wms .. 70
El Bond & Sh. l%!Std of Ind ... 25%
Fisk Rubber 8% Std of Kv 15
Ford of Can 'A' 20% Teck Hugh Gold 6%
Ford of Europe 8% Un Gas 1%
Glen Alden Coal 19% Un Pwr & Lt A 2
Hiram Walker 24%!Wright Har Min 9%
Humble Oil ...'4l%i
| Chicago Stocks
(By Abbott., Hoppin & Co.i
—Aug. 9
High. Low. 11.00.
Asbestos Mfg 1%
Bastian-Blessing 4 3% 4
Borg-Warner 19% 19 19%
Butler Bros 6% 6% 6%
Cities Service ... 1%
Cord Corp ... 3%
Electric Household ... 14
Marshall Field & Cos .. 9
General House Util .... 8% 8% 8%
Iron Fireman .. 14%
Libby-McNeil ... 6% 6% 6%
Perfect Circle 26%
Public Service N. P . 13%
Swift & Cos 18 17% 18%
Swift International ... 35% 34% 34%
Vortex Cup Cos ... 9 12’ a
Bond Prices
Bv Fennel & Hr-' ———
—Aug. 9
High. Low. 10:00.
Alleg Corp 5s "50 ... 26%
Am & For Pwr 5s 2030 48%
A T & T db 5s '65 110
Atchison gen 4s '95 ..103 102% 102%
B & O cv 4%s ’6O ... 55% 54% 54%
Beth Steel 5s A '36 103%
CMStP&P adi 5s A 2000 8% 8 8%
ChMStP&P rs s A ’75 30% 27% 9%
Erie R R rs 5s '67 ... 64% 4 64%
Gt Nor 7s A ’36 ..87 86% 86%
Interboro R T 5s 66 . 73 72% 72%
Int T & T rib 5s '55 57%
McKess & Robb 5%s 50 79%
Nat Dairy db 51,S '4B 98% 98% 98%
N Y Cent, 4%s O 2013. 65
Penn R R 4%s D '81... 95 94'/a 95%
Texas Corp 5s '44 ... 103
Tob Pr N J 6%s 2022 . 106'%
Un Pac Ist 4s '47 ...106'/4 106 106
U S Rubber 5s A '47 83
U. S. GOVERNMENT BONDS
(By United Press)
NEW YORK Aug. 8 —Closing liberties.
(Decimals represent thirty-seconds.)
—Liberty—
-3%s (32-47) 103.26
First 4', s (32-47) 103.3
Fourth 4%s (33-38) 103.17
Treasury
4 %S-3 % S (45) 102.25
4V* s (47-52) 112.28
3%s (43-47) 106.28
3%s (41-431 March 104.14
3%s (40-43) June 104.14
3%S (43) 104.13
3%s (46-49) 101.31
3s (51-55) 101.2
FEDERAL FARM LOAN BONDS
(By Biyth & Cos.. Inc.)
—Aug. 8—
Bid. Ask.
4s July 1, 1946-44 99% 100%
4s Nov. 1, 1957-37 99% 100 Vs
4s May 1, 1958-38 99% 100%
4%S July 1. 1956-36 99% 100%
V, s Jan. 1, 1957-37 99% 100%
4%s Mav 1. 195737 99% 100%
4%s Nov. 1. 1958-38 100%
4%s May 1. 1942-32 99% 100%
4%S Jan. 1, 1943-33 99% 100%
4%s Jan. 1. 1953-33 99% 100%
4%S July 1, 1953-33 99% 100%
4%s Jan. 1, 1955-35 100 100%
4%s Jan. 1, 1956-36 100% 100%
5s May 1. 1941-31 100% 100%
OS Nov. 1. 1941-31 100% 100%
—Home Loan—
-3s Mav 1. 1952-44 99.30 100.00
4s July 1, 1951 100.03 100.07
—Federal Farm Mortgage Corporation—
-3%s March 15. 1964-44 101.16 101.28
The three latter quotations are in
thirty-seconds.
TRUCK TAXATION SETS
NEW RECORD IN 1933
Federal, State, Loral Government
Revenues Total $303,467,000.
B’l 7 imrs Special
NEW YORK, Aug. 9.—Revenue
derived by federal, state and local
governments from motor truck tax
ation climbed to anew peak in
1933 when the more than three
million trucks registered were as
sessed $303,467,000 in registration
fees, gasoline and excise taxes, ac
cording to -“Automobile Facts and
Figures” now being released by the
National Automobile Chamber of
Commerce.
Truck taxes have continued to
increase in face of a decline in
truck registrations. Though trucks
were but 13'.2 per cent of the
motor vehicles registered last year,
they paid nearly 27 per cent of
the special motor vehicle tax bill.
"The climb of motor truck taxes
has paralleled the rise of all motor
vehicle taxes.” declared Alfred
Reeves, vice-president and general
manager of the motor organization.
u. S. DOLLAR STRONG
Gold Price Advances Slightly on
London Exchange.
By United Press
PARIS, Aug. 9.—The United
States dollar was slightly stronger
today, quoted at 15.10 (6.622 cents a
franc) as against 6.635 cents a franc
in yesteray's foreign exchange mar
ket.
By United Press
LONDON. Aug. 9.—Gold bars were
advanced a half penny here today
to 138 shillings 1 penny, equivalent
to $34.87. with the pound at $5.05.
Gold to the amount of £403.000 S<2,-
035.150) was traded. In franc terms
the pound was quoted at 76.357
francs.
Hardware Distribution Higher
By United Press
CHICAGO. Aug. 9—Wholesale
distribution of hardware in the first
six months from the standpoint of
both dollars and units showed
gams of from 40 to 50 per cent over
the corresponding period of last
year.
HOGS ADVANCE
15 TO 25 CENTS
AT CITY YARDS
Choice Grades Reach New
Highs for Year at
$5.50 Down.
Porker price.', at the Union stock- !
yards this merning again soared to N
new high levels for the current year :
when all grades displayed an in
crease of 15 to 25 cents above yes
terday's average.
Improved demand and light sup
plies were the two major factors in j
today's session, marking the third j
increase for the week. Lightweights
displayed the large advance.
The bulk of 160 to 200 pounds,
was selling at $5.15 to $5.35, while
choice kinds, weighing 200 to 300
pounds, brought $5.40 to $5.50, best
prices for the year.
Lightweights, scaling 130 to 160
pounds, sold at $4 to $4.50, while
extremely small classes, weighing 1
100 to 130 pounds, salable at $2.75
to $3.75. Packing sows cashed in
at $3.75 to $4.65. Receipts num
bered 4,500; holdovers. 298.
With initial trading active on
slaughter steers, beef grades and
heifers remained steady. Cows were
strong to slightly higher. Low
grade steers were salable at $3.75 to
6.75, while heifers sold at $6 down.
Receipts were 900.
Only little trading interest was
evident in the veal market, and
practically all classes tyeld steady at
yesterday's prices. Bulk sold 'it $6
down. Receipts were 700.
Lamb prices continued uncharged,
with ewe and weather grades selling
at $7 to $7.50. Bucks were dis
counted sl. Throwouts ranged
from $4.50 to $6. Receipts were esti
mated at 1.500.
Porker prices at Chicago held
stationary with yesterday's average
at $5.35 down. Early asking was
around 10 cents higher. Receipts
were estimated at 19,000. including
7 000 directs; holdovers, 3,000. Cat
tle receipts were 14.000, including
6.000 government stock; veals num
bered 15,500, including 13,000 gov
ernment calves; market, steady.
Sheep receipts were 7,000; market,
unchanged.
Ang. Bulk. Top. Receipts.
3. $4,850/- 5.05 $5.2.5 6 000
4. 4.85® 5.05 5.20 2.000
6 5.00® 5.20 5.40 5 000
7 4.90(3! 5.10 5.30 6 000
8. 5.00(3 5.20 5.40 4.500
9. 5.15(3 5.35 5.50 4.500
Market, Higher.
(130-160) Good and choice .. $4.25(3 4.50
—Light Weights—
(l6o-180) Good and choice .. 5.15® 5.25
(130-200) Good and choice .. 5.30® 5.35
—Medium Weights—
(2oo-220) Good and choice .. 5.40® 5.45
(220-250) Good and choice .. 5.45® 550
—Heavy Weights—
(2so-290) Good and choice .. 5.40(3 5.45
(290-3501 Good and choice .. 5.30® 5.40
—Packing Sows—
(2so down) Good 4.25(® 4.65
(250 lbs.) Good 4.00® 4.35
(All weights) Medium 3.75® 4.25
—Slaughter Pigs—
(loo-130) Good and choice .. 2.75@ 3.75
CATTLE
Receipts, 900; Market, Steady.
Good and choice $ 6.50® 8.75
Common and medium 3.0042 6.50
(1.100-1.500)
Good and choice 7.0042 900
Common and medium 5.0042 7.00
(550-750)
Good and choice 5.00® 6.75
Common and medium 2.00® 5.00
(750-9001
Good and choice 5.00® 7.00
Common and medium 2.00® 5.00
—Cows—
Good 3.25® 4.00
Common and medium 2.50®! 3.25
Low cutter and medium .... 125® 2.50
Bulls (yearlings excluded)
Good (beef steers) 2.75® 350
Cutter common and medium. 1.50® 2.75
VEALERS
Receipts, 7(k); Market, Steady.
Good and choice $ 5.50® 6.00
Medium 4.00® 5.50
Cull and common 2.00® 4.00
—Calves—
Good and choice 4.50® a.50
Common and medium 2.50@ 4.50
—Feeder and Stocker Cattle-
Good and choice 4.00® 5.25
Common and medium 2.75® 4.00
(800-1,500)
Good and choice 4.00® 5.50
Common and medium 2.75® 4.00
SHEEP AND LAMBS
Receipts, 1,500; Market, Steady.
Lambs, 90 lbs. down, good and
choice $ 7.00® 7.50
(90-110 lbs.) Good and choice 6.50® 7.25
(90 lbs. down) Com. and med. 4.50® 6.50
—Ewes—
Good and choice 2.00® 3.00
Common and medium I.oo® 2.00
Other Livestock
(By United Press)
Chicago, Aug. 9.—Hogs—Receipts. 19,000.
including 7.000 directs: slow', steady to 5c
higher than Wednesday: 210-310 lbs.. $5.25
4/5.35; top $5 40: 170-200 lbs.. $4,854/5.25;
light lights. $4,254/4.75; pigs, s3®4: pack
ing sows. $4,154/ 4.50: light lights. 140-160
l'os,. good and choice. $4,254/4.85: light
weight, 160-200 lbs., good and choice. $4.65
(a 5.25: medium weights. 200-250 lbs., good
and choice, $5,154/5.40: heavvw eights, 250-
350 lbs., good and choice. $5,104/5.40: pack
ing sow's. 275-550 lbs., medium and
choice. $3,504/4.60: slaughter nigs. 100-130
lbs., good and choice. 53®4.25. Cattle—
Receipts. 8.000 commercial. 6.000 govern
ment; calves receipts. 2,500 commercial.
3,000 government: fed steers and year
lings unevenly steady to 25c lower!; me
dium and good grades showing decline;
general killing qualities plain; sizeable
supply $7 downward; best long yearlings.
$8.65. and $8.75 bid on medium weights;
very few weighty steers in crop; other
killing classes under pressure, steady to
25c lower: bulls showing full decline; veal
ers steady at $5.504i6 50: slaughter cattle
and vealers: steers 550-900 lbs., good, and
choice, $5,754/8.25: 900-1.100 lbs., good and
choice. $64)9- 1.100-1.300 lbs., good and
choice. $6 254/9.50: 1.300-1.5000 lbs. good
and choice, $6,754/9.75: 550-1,300 lbs., com
mon and medium. $2.25(3 6.75: heifers. 550-
750 lbs. good and choice. $54/7.25: com
mon and medium, $2 254/ 5: cows good.
$3.25(3 5: common and medium *2.404/ 3.25;
low cutter and cutter, $1.25(3 2.40: bulls,
yearlings excluded, good beef. $3(3 3.50;
cutter, 'common and medium. $24)3.25;
yearlings, good and choice. $5.25® 6 75:
medium. $3®5.25 cull and common. $2.50
®3: stocker and feeder cattle: steers.
550-1.050 lbs., good and choice $4,254/5 25;
common and medium. $2.50®4. Sheep—
Receipts. 10.000: fat lambs in rather ac
tive demand: indications fully steady to
strong; bidding $7.50 on sorted natives;
asking *7.75 upward: top yearlings. 40c
above Wednesday's best; several 94-lb.
weights at $6.50: early btilk $6: sheep,
steady: ewes. s2® 2.75 slaughter sheep
and lambs: lambs 90 lbs. down, good and
choice. $6 904/ 7 75: common and medium.
$4,754/7: ewes 90-150 lbs., good and choice.
$24/3: al! weights common and medium
$1 50®2.50: feeding lambs. 50-75 lbs., good
and choice. $5.25®5.75.
FT WAYNE. Aug. 9.—Hogs—Market. 10 !
to 25 cents higher; 250-300 !bs„ *5.45;
200-250 lbs.. $5 36: 180-200 lbs.. $5.20:
160-130 lbs.; $5.05; 300-350 lbs.. $5.20:
150-160 lbs.. *4.25: 140150 lbs. *4.25. 130-
140 lbs.. 53.75: 120-130 lbs 53.25: 100-120
lbs.. *3: roughs. $3.75; stags $2. Calves.
$6. Lambs. $6.75.
LAFAYETTE. Aug. 9—Hogs—Market. 15
to 25 cents higher: 200-300 lbs.. $5,303
5 40: 180-200 lbs.. $5 254/5 20 160-180 lbs .
$4 953 5.05- 140-160 lbs. $43 4 25: 125-140
lbs . $3 50®3.55' 115-125 lbs. $34/3 25: 100-
115 lbs. $2 503 2.75: roughs. $4 50 down;
top calves. $5: lambs. $6.50 down.
(By Times Special)
LOUISVILLE. Aug. 9 —Cattle—Receipts
125; commercial supply light: quality
generally plain market moderately active
and steady with recent days; common to
medium steers and heifers generally $34/
4.50; few grassy cutter grades down to
around $2 50: better finished fed light
weights quotable. *s® 6 bulk beef cows.
$2 503 3; good kinds and smooth heifer
types to $3 50 and above; bulk low cutters
and cutters sl4/2 25; sausage bull* mostlv
$2.75 down: run includes several load*
light Hereford stockers salable mostly at
$4.503 5: common to medium grade na
tives. $2 503 35 Calves—Receipts. 500.
including about 100 stock calves: steady:
bulk better vealers, $54/5 50: heavy gra=s
calves and most medium and lower grade
vealers 54 down Hogs—Receipts. 700:
mrket 10 cents higher. 210-300 lbs . $5 40;
185-205 lbs. S5 20 305 lbs. up. $4.70. 160-
180 lbs . $4 40 145-155 lbs.. $4 05: 120-140
lbs., $2 65 sows. *3 15 Sheep—Receipts.
2.000: lambs in moderate supply; quality
only fair: demand dependable and market
generally steady: bulk better trucked in
ewe and wether lambs. $6 30® 6.75; few
choice to $7 or better: bucks discontinued,
bulk salable $5.50® 5.75 throwouts, $4.
fat ewes. sl®2: most desirable stock ewes
salable, $6 0 7 50 a bead.
Year’s Cotton Production
at New Low Since 1921
Government Places Total
Output at 9,195,000
Bales.
By Cnitrd Pro**
WASHINGTON. Aug. 9.—Drought
burned the 1934 cotton crop to a
new low level since 1896 with one
exception, a government forecast
show.
The department of agriculture in
its first formal production estimate
placed the indicated crop at 9.195.-
000 bales, well within the taxation
free limits of 10.460.251 bales under
the Bankhead cotton act, and the
smallest crop since 1921.
Texas and Oklahoma suffered
most severe reduction estimates, but
the ravages of the sun will be felt
throughout the entire belt, the re
port indicated.
Immediately after the report, sec
retary of agriculture Henry A. Wal
lace summoned officials to discuss
its implications. The estimate was
said to be below any anticipated
by department officials.
Enforce Bankhead Act
It was said that despite the in
dicated short production the Bank
head act would be enforced in every
respect. Officials feel inaction
would antagonize producers who
limited their crop in anticipation of
the act’s restrictions. Field forces
have been exhorted by Washington
to speed up distribution of indi
vidual allotments.
The predicted crop was 5.480.000
bales under the average production
in the five-year period, 1928-1932,
and 3,852.000 bales fewer than last
year’s crop. The indicated yield a
acre is 160.9 pounds, which is above
average in all major cotton growing
states east of the Mississippi river
but below average westward.
Drought took severe toll of cot
ton as well as grains, the report
showed. Texas production was
placed at 2,382.000 bales or slightly
more than half of 1933 Texas pro
duction. The department predicted
a yield of only ninety-five pounds
of cotton a acre in Oklahoma,
where every county is designated
primary drought territory. The
yield in Oklahoma last year was
208 pounds an acre.
Oklahoma production was 1,266,-
000 bales in 1933 compared to 509,-
000 indicated for this harvest.
Drought Damage Heavy
The department reported that
drought curtailment also was 'par
ticularly severe” in western Ar
kansas and parts of Louisiana.
"Should the drought continue in
these states,” the report said, "fur
ther decline in prospects will re
sult.”
It was pointed out. however, that
adequate rains in the early future
would produce "more than average
improvement.”
Dry. hot weather of late June and
July has greatly reduced the prob
ability of "material” boll weevil
On Commission Row
—Aug. 8—
Quotations Oeiow are average retail
prices being offered to buyers bv local
commission house dealers.
Apples—Fancy Delicious. $2.25: Trans
parents. $1.50®1.75.
Peaches. Georgia. Elbertas. bushel. $2 25.
Oranges—California Sunkist. $5; Val
encies. $4.25@5.
Lemons —Sunkist. $6®7.25.
Grapefruit—Florida seedless. $4.25®4.50.
Cantaloupes—lndiana juniors, flats. 75c:
bushel. $1.50.
Pears—Caiavos. $2.50 a box.
Watermelons—2s@7sc.
Bananas—A pound sc.
—Vegetables—
Sweet Corn—Home grown, doz.. s®2oc.
Cabbage—Home grown, bushel, Sl® 1.50.
Celery—Michigan at boxes $1 25: me
dium, doz, 45c.
Onions—California yellow aU-lb oae
$1.65.
Potatoes—Eastern Cobblers, 10C-!b. baa.
$1.75: Idaho Russets, 100-lb. bag, $2; new
barrel. $2.85.
Sweet, potatoes—New Alabama oushei.
$1.60.
Beans-*Round stringless, bushel. 52@2.50.
Beets—New, 25c a dozen.
Carrots—Home grown, bushel. $1.50: doz.
35c.
Cauliflower—lOs-lls. crate. $1.75®2.
Lettuce—Outdoor. 15-lb. basket. 85c;
head lettuce crate. $6.
Peas—California, hamper, $3.
Radishes—Ohio, 50 doz. bunches, 50c.
Rhubarb—Home-grown, dozen. 25®30c
Spinach—Home grown, bushel. 65c.
Tomatoes—Home grown—lo-lb. baskets.
65c; bushel. $1.50.
CHICAGO FRUIT MARKET
(By United Press)
CHICAGO, Aug 9.—Fruits, vegetables:
Arvles— Michigan Duchess bushels, 504/
90>. Cucumbers—lllinois bushels, 50c® $1;
Michigan. $1,504/2.25. Tomatoes—lllinois
lugs, 50375 c; Michigan. 12 qts., 50®75(*
Sweet potatoes—Alabama bushels, sl.4C*
1.50: Tennessee. $1.9032.15. Peaches—
Georgia bushels. $24/2.50; Illinois. $1,754/
2. Lettuce—California crates, $3,504/ 4;
Ohio 10 lbs., leaf. 65® 75c. Beans—lllinois
and Michigan green bushels. $1.75® 2.25.
Cabbage—Wisconsin crates, $1.25®1.50.
Cherries—Michigan, 16 qts. red sour. $1.25
@ 1.50 Canteloup—lndiana crates, 504/
75c: Michigan. 75c®51.50. Corn—lllinois
sacks. 4 doz.. yellows. 35c4/60c. Carrots —
California. $2,354/2.60; Illinois bunches.
1 %®„2 1 2C. Peppers—lllinois bushels. sl3;
1.25. Egg plant—lndiana bushels. $1,254/
1.50 Pears—Michigan bushels, 75®1.25.
Celery—Michigan crates. 50®,75c. Western
cauliflower crates. $1.50® 1.75. Onion mar
ket (50 lb. sacksi; California yellows. *1
4/1.25. California whites. $1.65® 1.75.
Washington Valencia*. $11.15. lowa
yellows, 754/90c. Indiana whites, $1.50®
1.75.
Produce Markets
Delivered in Indianapolis orices: Heavy
hens. 10c Leghorn hens, 6c. 1934 broil
ers. 2 lbs. and over. 13c Leghorn broilers
1% to 2 lbs. and over 11c bareback broilers
10c: old roosters. 4c: ducks and geese. 3c;
young guineas. 20c; old guineas. 15c: No. 1
strictly fresh country run eggs, loss off
13c Each full case must weight 55 lbs.
gross; a deduction of 10 cents a pound
for each pound under 55 lbs will be made.
Butter—No. 1, 29®30c. Butterfat. 21c.
Quoted bv Wadley Company.
PIG IRON OUTPUT DIPS
U. S. Production Totals 13,256,932
Tons During Year.
By United Press
WASHINGTON, Aug. 9. —The
census bureau announces that the
production of pig iron and ferro
alloys in the United States in 1933
amounted to 13,256,932 tons, valued
at $204,056,320, a decrease of 27.5
per cent in quantity and 31.1 per
cent in value as compared with 18.-
288,715 tons, valued at $296,212,048.
reported for 1931.
Exports of American tin plate in
the first six months of 1934 totalled
97.137 gross tons, a gain over the
corresponding period in 1933 of 75.2
per cent.
Metal Sales Total 114,855 Tons
By 7 imi s Special
CHICAGO. Aug. 9 Sheet metal
sales during June totaled 114.853
tons as compared with 199,438 tons
produced for that month accord
ing to figures compiled by the Na
tional Association of Flat Rolled
Steel Manufactures.
15 Drowned in Polish Bus Crash
By United Press
WARSAW. Poland. Aug. 9—Fif
teen persons were drowned yester
day when a bus of the National
Railways crashed through a fence
and fell into the river Bug, between
Warsaw and Bialystok.
damaee this season, the report
stated.
The department estimated that
27 371.000 acres of cotton were in
cultivation as of July 1, represent
ing a substantial reduction from
last year's planted area. Officials
of the AAA cotton section said the
indicated acreage approximated
closely the goal set in their limi
tation program.
STOCKS BLANKS
TO BE MAILED
U. S. to Take First Steps to
Enforce Securities
Control Bill.
By I y Uni ;v, v.
WASHINGTON. Aug. 9 Chair
man Joseph P. Kennedy of the
securities and exchange commission
announces that registration blanks
for the stock exchanges will be sent
out beginning Monday as the first
step in the government's stock
market control program.
Kennedy asserted that the com
mission also was completing ‘cm
porary rules regarding registration
of securities already listed on the
stock exchanges. He said that the
temporary rules would be effective
until July 1. 1935, but that any
new listings on the exchanges must
come under the permanent regula
tions.
He said the temporary securities
rules would be drafted by Tuesday.
Kennedy said that the commis
sion had conferred with exchange
representatives from Boston. San
- -'"'sco, Los A"''*'e Chicago
and New York to "prevent any in
justices” in the new licensing and
securities requirements.
He added that they had informed
him that the commission's ideas
were “fair and reasonable.”
Kennedy said that the commis
sion had reached no definite opin
ion as to whether to exempt small
exchanges from licensing require
ments. Under the law exemption of
small exchanges is optional.
GAT FANCIERS PLAN
STATE FAIR EXHIBIT
Breeders From All Over
County to Enter.
A four-point cat show with 140
entries will be held Sept. 6 and 7
at the Indiana state fair, attracting
fanciers and breeders throughout
the country.
The American Jat Association ot
which Mrs. William O. Bates, 756
Middle drive, Woodruff Place, is
president will hold the stage Sept.
6, while Sept. 7 will be given over
to the Cat Fanciers Association.
G. M. SALES IN JULY
HIGHEST SINCE 1929
Increase of 25.6 Per Cent Shown
Over 1933 Periods.
By United Press
NEW YORK, Aug. 9.—July sales
of General Motors Corporation were
the highest for any July since 1929,
the corporation's monthly report
reveals.
July sales to dealers in the Unit
ed States and Canada, plus overseas
shipments were 134,324 units, against
146,881 in June, a decrease of 8.55
per cent, and 106.918 in July, 1933,
an increase of 25,6 per cent. For the
first seven months of 1934 this cate
gory amounted to 884,600 units,
against 605.540 last year, an increase
of 46 per cent.
Sales to consumers in July were
101,243 units, against 112.847 in June,
and 87.298 in July, 1933. For the
year to date they were 596,215
against 487,062 in 1933.
TOBACCO SALES CLIMB
Axton-Fisher Firm Attributes
Gain to Aggressive Advertising.
By J tines Special
NEW YORK. Aug. 9. Wood F.
Axton. president of the Axton-
Fisher Tobacco Company, an
nounced today that sales for the
first six months of 1934 were the
largest since the formation of the
company in 1899.
Colonel Axton attributes the in
creased business to the aggressive
advertising campaign carried out
by the company last year and the
new factory, constructed when
building operations were virtually
at a standstill, giving greater pro
duction facilities.
Marriage Licenses
Russell Bennett. 24. of 2236 West Mich
igan street, machinist, and Marv Barnett.
21 of 542 Milev avenue, house maid.
Charles Emery, 44, Pacific Grove. Cal ,
plant supervisor, and Octavia Heznere 38.
of 148 East Twenty-fourth street, tele
phonist.
Herbert Hill. 27. Bloomington, cook, and
Ollie Johnson. 24. of 119 Douglas street,
maid.
Earl McLaughlin. 22. of 3016 North
Hovev street, public works, and Naomi
Hampton 18. of 3016 North Hove.v street,
housework
Homer Peten. 24 of 2423 Villa avenue,
steamfitter. and Virginia Shewmaker. 21.
of 1124 Broadway, stenographer.
Births
Girl*
Harold and Vera Shumate, 958 Belle
Vieu place.
Ralph and Minne Wright. 584! Rawies.
Maurice and Helen Gray. 2014 South
State.
Vernon and Edna Alexander, 131,
Lawton.
Louis and Leona Flynn, 1226 North
Colorado.
Boys
Omer and Nellie Lingle, 1755 Somerset.
Oliver and Frances Biake. 1512 Blaine.
Albert and Mildred Beck, 948 Soutn
gpn 21 €
Phillip and Dorothy Reidy, 937 Chad
wick.
Deaths
Thad Garret. 50, Long hospital,
leukemia
John V. Newhouse. 47, Methodist hos
pi-al. cerebral hemorrhage.
Marlin White. 39. city hospital, miliary
tuberculosis
Anna Batich, 19. of 1017 Warman. mitral
insufficiency.
Jean Marie Handlon. 8 mos.. city hos
pital. enteritis.
Madonna E Steffv. 8 mos., city hospital,
perfussis. _ _
Hugh Eugene Pair 74. of 4i20 East
Twelfth carcinoma.
Link-Belt Sales Rise
By 7 imrs special
CHICAGO, Aug 9.—Link-Belt
Company and subsidiaries for the
first six months of the current year
report sales totaled $4,916,830
against $3,154,459 a year ago. Cur
rent assets on June 30. were $10,828.-
125, while current liabilities amount
ed to $6863,952.
PAGE 15
MAJOR GRAINS
STRENGTHEN IN
LIGHT SESSION
Southwest Remains Hot and
Dry: Canada Receives
Scattered Rains.
BY HARMAN W. NICHOLS
I nilfd Prf> Staff ( orrz*pondrnt
CHICAGO. Aug. 9.—Grain mar
kets held their strength at the open
ing of the Chicago Board of Trade
today.
Wheat started unchanged to %
cent higher, corn was % cent lower
to % cent higher, oats were un
changed to up % and rye was up '*
to a cent.
Weather news was mixed with the
west and southwest continuing hot
and dry. There were scattered
showers in parts of the Canadian
provinces but these were considered
by the trade as of little import
ance.
Foreign markets were firmer with
Rotterdam up ’to a cent and
Buenos Aires fractionally hiehrr.
Liverpool started strong while Wm
nepeg was up fractions.
Chicago Futures Range
—Auk. 9
Prsv.
Whrat— Hieh l.Oi to no r o*r.
Sept 1 09% 1 08% 1 08% 1 09%
Dec It: 1.11% 1 11% 1 11%
Mav 1 15 1.14% 111% 1 14%
Corn—
Sept 76% .76% .76'- .76%
rvf "9% 79% .79% 79%
Mav 84% .84% 84% 81%
Oats—
Rppt 51% .50% .50% .51%
Dec 53% .52% .52% .53
Mav 55% .55% .55% .55%
Rvr—
Sept 87% .87 87% 87
Dec 90% .89% .89% 89%
Mav 94% 94% .94% .94
Barlsy—
Srpt. .70 .70
Dpc ... .71 .71%
The above quotations are for new op
tions.
CHICAGO PRIMARY RECEIPTS
—Aue. 8—
—Bushels—
Todav. Last week.
Wheat 692,060 827,000
Corn 1.056.000 1.241.000
Oats 276.000 321,000
Cash Grain
INDIANAPOLIS
—Aug 8—
The bids for car Jots of grain at tho
call of the Indianapolis Board of Trade,
f. o. b., shipping point, basis 17’iC to
river, were:
Wheat—Firm: No 1 red. 99 , .vC'f?*1.00* •:
No. 2 red. 98 1 j(<i 99 1 ?c: No 2 hard,
(f< St.o0 1 2.
Corn—Strong: No 2 white, 714/72c; No.
2 white. 70*71c: No. 2 vellow 68' 2*/ 69' r;
No. 3 yellow. 67' 2<U 68' 2C; No. 2 mixed,
67' <(n 68 1 _’C; No 3 mixed. 66 \ 2 4/ 87'.c.
Oats—St rong No. 2 white. 470/ 48c: No.
3 white, 464/47c.
Hay—Steady: if o. b country points
taking 23’;c or less rates to Cincinnati
or Louisvillei —No 1 timothy. 13.50.
—lnspections
Wheat—No. 2 red. 7 ears: No 3 red, 1
ear. No. 4 red. 1 car; No. 2 hard. 1 car.
Total, 10 cars
Corn —No 2 white, 6 cars; No 3 white,
4 cars; No. 4 white 3 cars: No 2 yellow,
16 cars: No. 3 yellow', 20 cars; No 4 yel
low. 2 ears; No 5 yellow 1 car; No. S
yellow, 1 car: No 3 mixed. 1 car Total.
51 ears.
Oats—No. 2 white, 2 car: No 3 white,
4 ears; No 4 white 2 cars: No 3 mixed,
1 car. Total, 9 cars.
Local Wagon Wheat
City grain elevators are paying 95 rents
for No 2 soft red wheat Other grades
on their merits
(By United Press)
CHICAGO. Aug B—Cash grain Wheat.
No. 2 red. SI.OB-%® 1.09' .■: No. 3 red.
51.07' 2^11 1.07%: No. 4 red. $1,074/ 1.07' 2 ;
No. 5 red. 51.06: No. 2 hard. SI. 120* 1.13'-:
No 3 hard. sl.o9'i*/ 1.11: Sample hard.
1.05: No 2 vellow hard, $1.11: No. 2 mixed,
51.12; No. 3 mixed. $1.10%: No. 4 mixed.
51.07; No. 1 hard smut, 51.11' 2. Corn—No.
3 mixed. 74%c: No 2 vellow 76ftt.76'L*c:
No. 3 yellow. 75 1 ,i®75 3 ,4C: No. 4 vellow.
75**751,40: No. 5 vellow. 75c; No. 6 yellow.
73%c: No. 2 white. 77i5)77'.2C. Oats—No. 2
white. 52'ic; No. 3 white. 49W54',2c; No 4
white. 48*-ec; sample. 44*i®44%C. Rye—No.
1. 88'i-c: Timothv. 513.50(J<:14: barley riuot
able. 60®95c; clover seed. $10,754/15.
Cash provisions—Lard $7.85; loose. $7.25.
TOLEDO, Aug. B.—Grain close: (Grain
In elevators, transit billing). Wheat No.
2 red. sl.oß'i® 1.09'a. Corn—No 2 vellow.
79'a#i 80 tic. Oats—No. 2 white. 54 4/55r.
Rve —No. 2 884/89c (Track prices. 28%c
rate'. Wheat—No 1 red. sl.o4''.•*/. 1.05' •:
No. 2 red. $l.O3 1 1.04:. Corn—No. 2 yel
low. 75%4/ 76c; No. 3 vellow. 74Vi*/.75c; No.
4 vellow. 73’2*>74c. Oats—No. 1 white, 52W
55c; No. 2 white. 51®,52Vic; No. 3 white.
48 1 2® 51 1 ic.
ST. LOUIS. Aug. 8 Grain close: Wheat
—ln fair demand, steady to lc higher
on red and 2c higher on hard: No. 2 red
$1,054/ 1.05; early. 51.05: at close; No. 2
red garlicky. $lO/1.00%: No. 2 hard. $1 14
early. $1.13% at close. Corn —In fair de
mand. vellow 1 to ltic higher, white
steady: No. 2 vellow. 76477S' 2 c; sample
vellow. 72!..e: No 2 white 77%*/78c Oats
—ln slow demand nominally 3c higher:
No. 3 mixed. 48'.-c.
LUDLUM STEEL NETS
PROFIT OF $375,642
Income Reported for First Half of
Current Year.
By 7 imrs Special
NEW YORK, Aug. 9.—Ludlum
Steel Company reports net profit
for the six months ended June 30,
after depreciation and taxes, of
$375,642. After provision for divi
dend repirements for this period
on the company’s 6'g per cent pre
ferred stock, this is equal to $1.14
a share on 202,155 shares of dollar
par value common stock. This com
pares with a net loss of $37,476 dur
ing the first six months of 1933.
Net profit for the second quarter
of this year, after depreciation and
taxes, was $228,774. After pre
ferred dividend requirements this
was equal to 77 cents a share on
the common stock. For the second
quarter of 1933, the company re
ported a net profit of $20,281, since
which time the company has con
tinuously operated at a profit.
BUSINESS ACTIVITY OFF
Index Reports Slight Drop to 35
Per Cent Below Normal.
By Times Special
WINCHESTER, Mass., Aug. 9.
General business activity last week
dropped slightly to 35 per cent be
low normal as compared with 24
per cent below normal for the cor
responding period of last year, the
Winchester Business Activity In
dex reports.
The present activity, however, is
reported to be on a more solid foun
dation for the advance this fall,
as goods manufactured, with few
exeetpions, are being consumed at
about the same pace as produced.
CONSTRUCT NEW PLANT
Baltimore Chevrolet Company to
Employ 1,509 Men.
By i nitril Pri ss
BALTIMORE. Aug. 9—Baltimore
officials of the Chevrolet Motor Cos.,
today announced plans for imme
diate establishment of an assembly
and body plant to employ approxi
mately one thousand five hundred
during peak production.
Work will start within a few days
on a group of factory buildings, to
be erected on a fortv-five-acre site
adjacent to camp Holabird.