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The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, August 28, 1935, Home Edition, Second Section, Image 11

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Trends
mm m
Southern Senators’
Stand on Cotton
Untenable.
BY VINCENT LYONS
limn Financial Fditor
\ GROUP of Southern Senators
bad thrir Dixie blood up to
a boilinc point last *pk when the
Agricultural Adjustment Adminis
tration announced a revision in its
policy toward cotton —the South's
gold. Instead of continuing a flat
loan of 12 cents on the 1936 crop,
it was stated, the government
would loan but 9 cents on the new,
pnxluction but. in addition, would
guarantee the farmer a price of 12
cents a pound for his staple through
a subsidy.
This action was tantamount to
throwing a bomb into the ranks of
the Southern contingent who pre
viously had been issuing daily bul
letins expressing confidence that
the 12-cent loan would be main
tained. The fact that a few days
earlier Secretary of Agriculture
Henry A Wallace had telegraphed
from Indiana that maintenance of
“gift loans’’ on cotton was un
sound failed to disturb their con
fidence.
Aroused no end by the revised
AAA policy, the cotton Senators
took it upon themselves to correct
the situation by attaching an
amendment to the third deficiency
bill providing for a flat 12-cent
loan on cotton. Wheat Senators
added a provision calling for a
90-cent loan on their favorite com
modity. When the House balked
at voting on these amendments
Senator Huey Lore staged a fili
buster which prevented the defi
ciency bill from being voted upon.
a a a
X I THILE this Congressional snarl
W was transpiring. President
Roosevelt tried to placate the South
bv jacking-up the loan rate on
rot ton from 9 to 10 cents. Thus,
the farmer now will be able to
get a loan cf 10 cents a pound on
his 1936 crop instead of the 9 cents
contemplated earlier and the 12
cents granted him this year.
Whether the Southern Senators
were pleased could not be
ascertained.
Just why the AAA's revised policy
was subjected to the attack that
it was is hard to understand.
Under the 12-cent loan arrange
ment the Government was thrust
into the position of acquiring
virtually all of the available cotton.
With the commodity selling: in the
open market at a level considerably
under the government loan figure
the grower simply took his cotton
to a government warehouse and
got a 12-cent loan on it.
Thus, there were two prices for
cotton in effect. One was the
price which processors were willing
to pay, based on the law of supply
and demand; the other was the
AAA loan price of 12 cents. Natur
ally, of course, the farmer took the
higher price, which was the latter.
Meanwhile the cotton that was
being accepted by the government
as collateral for the 12-cent loan
was not going into consumption
because the government was not in
the processing business and could
only hold it m its warehouses.
a a a
IT doesn’t require % degree in eco
nomics to understand the eco
nomic heresy which the loan ar
rangement preaches. By fixing a
price above the level which pre
vailed in the open market the AAA
was merely preventing cotton from
flowing into consumptive channels.
And while growers ignored open
market prices and glutted govern
ment warehouses other materials,
in all probability, werp being used
in place of proud cotton.
But if it doesn't go into consump
tion. the cotton still remains as a
carryover. In other words, the
amount of the 1933 cotton crop that
fails to find its way into consumo
tive channels is a carryover to the
1936 crop. On Aug. 1 the carry
over amounted to 9.000.000 bales,
with the prospect of this total be
ing increased a year hence. Whether
the farmer realizes it or not the
cotton which the government has
accepted as collateral for the 12-
cent loans will return to plague him
sooner or later.
The 2-cont reduction in the loan
rate should go a long way toward
removing the embargo on con
sumption. If the market price re
mains below the 10-cent loan rate,
as it is today, then there will be
little incentive for the farmer to
sell his product to the government.
Now. if some constructive plan is
offered to recapture some of the
alhn market, we shall be able to
determine whether cotton is to be
king or commoner.
a a a
SOUTHERN Senators’ antagon
ism to the 9-cent loan 12-cent
guarantee is hard to understand,
particularly when it is realized that
the arrangement is better for
their farmer constituents in the
lone run. Possibly the only reason
why a flat 12-cent loan was desired
is because the 12 cents on each
pound of cotton is procured easily
and quickly, whereas under the
guarantee plan some time must
elapse before the farmer knows
whether he is entitled to the sub
sidy or not.
Besides being a good thing for
the cotton farmer, the AAA's ad
justed reasoning is less of a po
tential dram on the Federal tieas
urv. By reopening the consump
tive channels the government uti
mately may enhance the value pf
the cotton which it now holds.
That the outright loan is a dan
gerous policy was demonstrated in
the closing days of Congress when
the wheat bloc, tempted by the 12-
cent flat loan rider for cotton on
the third deficiency bill, added an
other tail to the measure by ask
ing a 90-cent loan on wheat. Huey
Long's monolog sounded the death
knell for both proposals, although
that was not his intention.
RETAIL TRADE AGAIN
SHOWS IMPROVEMENT
TrartirallT Every District in l'. S.
Reports Gain Over 1934.
S •> Tim< • spfrttl
WASHINGTON. Aug. 28—Retail
tradp m practically every district of
the United States continued to show
improvement during the last week
over the corresponding week of last
year, the Comerce Department an
ounced here today.
Wholesale trade, as reported from
the various areas, made a much bet
ter showing in comparison with last
year than retail trade, the report
stated.
FIRST WOMAN
GETS SEAT ON
U. S. EXCHANGE
Miss Gretchen Schoenleber
First cf Sex Elected to
An / Exchange.
Itjf I nilni prt
MILWAUKEE. Aug. 23. Miss
Gretchen Schoenleber, whose elec
tion to the membership of the New
York Cocoa Exchange made her the
first woman to be elected to any
American exchange, will take to the
trading floor the same attributes
boasted by each of its male con
tingent. She has a keen business
head, a quarter century experience
in her particular field and the abil
ity to drive a good bargain.
She will take one becoming
womanly trait too. in spite of her
efforts to do business in a man’s
world on a mans basis—a sense of
retiring modesty. She is forthright
and determined %in her business
negotiations but she is loathe to
have her success set up as an
example of what women can do in
executive positions
Held Business Expedient
Seated in her office as president
of the Ambrosia Chocolate Cos. here
she protested that her election to
the New York Cocoa Exchange was
of no significance. She said it was
merely a business expedient.
’ Every leading chocolate company
has a seat on the exchange.” she
said. “Ours was taken in my name
simply because I happen to be the
principal ofTicer of our company.
The fact I'm a woman makes no
difference at all. Doing business
these days isn't a question of sc::.
I won’t add 'ything to the ex
change that a man wouldn't.”
Asa matter of fact she will dele
gate to a subordinate the active
duties in New York in connection
with buying the raw cocoa bean?
through the exchange which her
company converts into candy bars,
cocoa and chocolate.
Started as Stenographer
Miss Schoenleber will continue to
drive her own car to the plant in
downtown Milwaukee which is poD
ular throughout its section of the
city because from it emenates a
wholesome odor of rich chocolate
that pervades the whole area. She
gets to work at 8 o'clock, just as
she did when she started out as ste
nographer for the concern 25 years
ago Her father was founder of the
business in 1894 and she succeeded
him as general manager when he
died 10 years after she started in
the business.
She's made it her life work and
never bothered with matrimony.
In her employ are 155 pople.
many of them women, engaged in
processing the raw cocoa beans that
come bv boat and rail from Africa
and South America.
On Commission Row
Quotations below, subject to change, are
average wholesale prices being offered to
; buyers by local commission dealers.
Fruits—Bananas. 4%c lb. Peaches. El
bertas bu SI 75 Hales bu . *8 Canta
loupes Indiana Jumbo flats. standard
flats She Hotiev Dews California Bs. 12s.
<1 50 Hones Balls. Jumbo. 365. 455. $3.
Wa*rmelons. Indiana round. 45% Blue
ber.-'es. southern. 16-qt case. *2 75413.
Apples (new) Maiden Blush. 51.25fi1.40:
Wealthys *1.108135. Pears. *1.15.
lemons. Sunkis*. 360 c. *7 Grapefruit.
California seedless. 64s *3 75. Limes.
Mexican, carton 20c: Persian seedless.
; per 100. *3 California fruit —Apricots,
lues *150: plums, blue. red. yellow. *2.50;
grapes, seedless. *1.50. Pears. Bartletts. $3.
! Vegetables- Beans, green, round string
| less. bu. *175 Beats —Home grown, doz...
25r Cabbage home grown, bu. 60c. Car
rots. home grown, and Ohio. 30c: new
bulk half bu. 75c Cauliflower. Colorado. 11s-
I 12s. crate, *l9O Celery. Michigan, washed
and trimmed jumbo, doz. 65c: medium, doz.
4.5 c: hearts. Hamilton Souares. *1.65. Corn
'home grown. doz. 15(f20c. Cucumbers.
‘ home crown, bu. (1.50. Kale, home grown,
bu 4Cc Lettuce. Iceberg. California, best.
53 75 home grown leaf. 15-lb basket. SI;
Endue. Ohio baskets. 60c. Mangoes, home
! grown bu. *1 small basket. 25c. Mint.
Air 50c Mustard, home grown, bu. 65c.
onions home grown, vellow. 50-lb. bag.
*1 10: home grown, white. 50-lb. bag. *1.35:
Walla Walla. Spanish 50-lb. bag. *1.50.
Parsley home grown, doz. 35c Peas. Colo
rado. hamper st 75. Potatoes—New Jer
! sev cobblers. 100-ib. bag. *1 40: Kentucky
and Missouri Cobblers. 10-lb bag. *1 25;
'early Ohios. bu. SI 40 Sweet potatoes—
j North Carolina Jerseys, bu. *1.50 Rad
ishes. Ohio buttons. 2-doz. basket. 75 c.
Rhubarb out door. doz. Joc. Sage. doz.
; 45c Spinach. New Zealand bu. 60c
Squash summer white. 75c. Turnips, new
bu *l5O bunch, doz. 35c Tomatoes, home
grown. 10-lb. basket. 25c: bushel. 75c.
FRIITS AND VEGETABLES
■By United Pressi
CHICAGO. Aug. 28—Fruits and vegr
•ahle- Apples- Michigan bushels. Duchess.
50 75c Carrots—lllinois bushels. 304; 40c
Sweet potatoes—Tennessee bushels. Sl'u
1 in. Leaf Lettuce—lllinois bushels. 354i
40c Bean* Michigan bushels, (lwisn
Cabbage-40-50-ih crates. 35'u50c. Peas
California bushel hampers. S2c. Toma
toes Michigan 12-qt baskets. 2547.50 c,
Spinach—lllinois 75c L-ttuce Western
r-ates. 5 doz S3 4i 3.50. Peaches — Illinois
bushel*. *147 105 Cucumbers—Michigan
bushels. 5047 75c Cantaloupes—Michigan.
50c 4i * r Onion market i,50-lb. sacks'
.lowa vel'ows. ,50 47 70c. Illinois yellows 50
-ißsc: Wisconsin vellows. 704J75c: Minne
sota yellows. 5047 70c: Idaho whites. 90c
Produce Markets
The prices quoted below are paid for
stock gathered in the country, while dr
j livered in Indianapolis the price will be a
cent higher Heavv breed hens. 15c:
Leghorn breed hens 12c: heavv breed
%-ocks. 7c: Leghorn breed cocks. sc; col
ored broilers 2 lbs. and up. sc: Leg
horn broilers. 1% lbs and up 12c: bare
back broilers. 10c: ducks, full feathered
.and fat. 4c. geese, full feathered and fat.
3c guineas 15c each No. 1 strictly fresh
eg is loss off 22c Each full case must
weigh 55 lbs gross, a deduction of 10c a
pond under 5.5 lbs will be made Butler
1 —No 1 . 28'.•; 29%c. butterfat. 22c
Quoted by the Wadley Cos.
Enlisted Stocks
By Birth A- Cos.. Inc i
NEW YORK BANK OCKS
Bid. Ask.
Bankers 69 71
C*n'ra’. Hanover B A- T .. 124 3 , 127
Chase 32'. 33 T ANARUS
Chemical National 45 3 , 47'j
Guaranty 293". 298
Irving 15', 16*.
Manufacturers 333,1 3 , 33
Nations' City 29', 31'
Cont II •Chicagoi 67', 69',
First Natl cf Boston 3.'i 41’j
FIRE INSt RANCH
Aetna Fire 55 s * 58
City of New York Ins <newi . 34-, 27
Federal Ins 77 3 , 81
Great America Ins 26', 27’
Hanover Fire Insurance 38'j 40'j
! Hartford Fire 77', 79 1 ,
Home Insurance 29' 3 31
Insurance Cos of N America ... 70V, 73
Nattonat Fire 73* 78
North River Insurance 25‘. 27',
Phoenix Insurance 87*, 90
V fcFlre 53', 55>,
Wmcheater Fir 321* J4'.a
Abreast of The Times on Finance
TREND OF COMMODITY PRICES AND BUSINESS CHARTED
9o: —I j ——ii r r r ; l ,8 °
I '
|
MOODY'S Daily *J f
80 — ~~ 160
i : WEEKLY *J*‘ i I
S 7n [ 1 1 BUSINESS TREND _J ! 140 S
II i |
..
• /- ••••.
1 i
MOODY’S INVESTORS SERVICE j L 120
AUG. SEP. OCT. NOV. OEC. JAN. FEB. MAR. APB. MAY JUN. JUL. AUG.
1934 1935
New York Stock Exchange Prices
llp / nil, <1 m**
NEW YORK. Aug. 28—Trading
turned dull on the Stock Exchange
early this afternoon. Prices were
irregular in a narrow range near
previous closing levels.
Most stocks were well above early
lows that showed declines ranging
to more than two points. Motor
shares recovered to gains of frac
tions to a point. American Tele
phone advanced a point net to 118.
United States Steel was only Vs un
der last night's finish. Kennecott
resumed its rise in the coppers.
Utilities firmed with Consolidated
Gas at a small advance.
Traders were cautious as they ap
praised the future for the market.
During the morning there had been
considerable nervousness. The mar
ket was vulnerable to attack and
declined easily on moderate offer
ings.
Bonds were irregularly lower. Cot
ton futures eased 1 to 3 points. Su
gar futures were unchanged to 2
points higher. Rubber gained 1 to
6 points. Silk soared 3% to 4 cents
a pound. Hides were up 1 to off 2
points.
(By Thomson & McKinnon'
12:15
P M. Prev.
Oils— High. Low. N. Y. close.
Amerada 69 s * 68% 68 3 4 68*4
! Atl Rfs 2.1'4 22% 22% 23
! Barnsdall 10 9% 9% 10
[ Consol Oil ... . S'2 9'4 9',2 9',4
Cont of Del . 21% 21% 21% 21
Houston mew 1 . 3% 3% 3V 3'4
Ohio Oil 11 1 * ll' 11 1 4 11%
Pet Corp 10% 10 10', 9%
rhillips Pet 28 1 2 27 28', 28',
Plymouth Oil ... 10 9 7 10 10
Pure Oil 8% 8% 8% 8%
Seaboard Oil ... 30% 30'4 30 1 - 30',
Shell Un 10', 10', 10’, 10
Skelley Oil 11' . 11' 4 11'4 11' .
Soc Vac 10’, 10', If, 3 , 11*4
S O of Cal 33' ,337,2 7 , 33 33'2
S Oof Inri . ... 26'2 26' 2 26’ 2 26 s ,
S O of N J 45 7 , 45'j 45 7 , 45*4
Texas Corp 20% 20 20 20
Tidewater Assn . 10 9 7 , 9 7 , 9 7 ,
Un Oil of Cal .. 18', 18 18 18%
Steels—
Am Roll Mills .. 23 3 , 22% 23’, 23',
Beth Steel . .... 37% 36'. 36%337,6 7 ,
Bvers A M 16 7 16'. 16' 2 16*4
Col Fuel & Iron 2 s , 2 s , 2% 2 s ,
Cruc Steel 24% 245, 24', 24'.
Inland Steel .... 87 86 87 86',
Ludlum Steel ... 22'.. 22 22', 23*,
Mid Steel 16*4 16 16% 17
Natl Steel 64', 64', 64', 65%
Otis Steel . 16% 15' 2 16% 15'2
| Ren Iron A- Steel 18', 17' 2 17% 18',
j Rep Ir * St pfd 71 71 71 70
| U S Pipe A Fdy 19 18'4 19 19
1 U S steel . 43*, 42' 2 42', 43%
| U S Steel pfd .. 106% 105% 105% 106>2
i Warren Bros 3’ 2 .3 1 2 3' 2 3'2
Youngstn S& T 25'. 24% 25 25%
i Motors—
! Auburn 33' 2 31'2 32% 33
1 Chrysler .... 59'. 57 7 , 59 58 1 2
| Gen Motors ... 42', 41'4 41 3 4 42',
Graham Mot-... 13.I 3 .1% 1% 17,I 7 ,
j Hudson 10% 10'. 10% 10'j
j Hupp .... 2 2 7 , 31%
! Mack Truck ... 23 21 s , 23 22
i Nash 14% 14', 14'4 14 3 ,
i Packard 4% 4% 4'. 4%
i Reo 3 2 7 33
Studebaker 3 3 4 3 3 4 3% 3 3 4
Yellow Truck .. 6', s', 6 s'*
Motor Access—
i Bendix 18 3 , 17 7 , 18% 18%
! Bohn Alum .... 46% 46% 46' 2 46%
Borg Warner ... 47 46’. 46'2 47
;Briggs 41 1 2 41 41 41%
Budd Mfg s', 5'2 5% 5%
1 Budd Wheel .... 5' = 5' 2 5'2 5%
I Eaton Mfg ... 25'* 25'. .25'2 22'4
I Elec Auto Lite . 26*4 26', 26' 2 26%
(Elec Stor Bat... 46 46 46 46 1 2
1 Houdaille (Bt.. 18 7 , 18 1 4 18', 18%
! Murray Bodv .. 13% 13 ', 13'4 13',
Stew Warner .. 11% 11', 11' 4 ll 5 ,
i Timken Roll 48 47 3 , 48 48',
'Timken Det Axle 8% 8% B', B*4
Mining—
Alaska Jun 16 7 , 16'. 16 7 , 16%
Am Metals .... 22 1 a 22'4 22'a 24%
1 Am Smelt 45 43% 45 44%
1 Anaconda ... 19 18’, 19 19
I Cal k Hecla .. . s', 5 5 s‘
I Cerro de Pasco 56'2 55 3 4 56'2 56
Dome Mines . . . 37'2 37', 37V. 38
I Granby
Gt Nor Ore 12', 12', 12', 12',
Ins Copper 4% 4', 4', 4",
Int Nickel . 29 28 7 , 28 7 , 28',
Isl Creek Coal. 26 26 26 26
Kenneeott Cop .. 22'2 21% 21 'i 22 3 ,
Mclntvre Mine . 36% 36', 36', 36%
Park Utah 4 4 4 4
Noranda Cop . . 38*4 38'. 38' 38U
Phelps Dodge ... 20 20 20' 2 20',
St Joe Lead . . 21 20', 20', 20>2
U S Smelters . 97% 97% 97 3 4 98
Vanadium ... 17*2 16% 17'.2 17’/*.
Amusements—
Crosley Radio . ■ 13% 13% 13% 13’,
Fox Theat .. 15', 15*2 15', 15 3 ,
Loews Inc 40' 2 39', 40'2 40',
Radio Corp . 6% 6 3 , 6% 6%
Paramount inewi 8% 8 B*, ..
RKO .... 2 3 2 3 , 2 3 , 2*2
Warner Bros ... 5 4% 5 5
Tobaccos—
Am Snuff 72 72 72 72%
Am Sum Tob . .. 25% 24 3 , 25'2 25',
Am Tobacco A 97% 97 3 , 97% 98
Am Tobacco B 100', 99 99 100' 2
Lise A- Myers B 116 116 116 116 3 4
Lorillard ... 24% 24 24 3 a 24',
Phillip Morris . 45', . 48%
Reynolds Tob B 54' a 54 54'2 54',
Rails—
Atchison 48'2 48 48'4 48'3
Atl Coast Lines . 24 3 , 24'4 24% 24 3 ,
B A O 15% 14' 4 14*4 15',
Can Pacific ... 10 1 2 10*4 10 * a 10 3 *
Ch A Ohio 45% 44 7 , 44 7 , 45 5
Chi AGtW... l'i 1 1 1
Chi AGt W pfd 3', 3'4 3'* 3',
C M A St P . I'2 13,l 3 ,1% 1%
CMA St P pfd. 2', 2 2 2',
Chi N W . 2', 2% 2-2 2>2
Chi N W ofd . 6 7 6 7 . 6 7 , 6 7 ,
Dela A Hud ... 34' 2 33% 34'* 34*4
Del Lac AW... 15 14 3 , 15 15
Erie 1! 10 3 4 10 3 4 11
Erie pfd 14% 13% 13 3 , 14>2
Grt Northern pf 20 19', 19', 20
111 Central 13', 12 7 , 13', 13',
Lehigh Valley .. 8 1 , 8% B', B',
Lou A Nash 40% 40*i 40', 41
M K A T 4', 4 1 , 4', 4'j
Mo Pac pfd 2-, 2*4 2', 2 3 ,
N Y Cent 22', 21 21'. 21 7 ,
N Y New Haven 6 3 , 6 6’, 5 7
N Y Ont A West 4', " 4', 4 1 , 4',
Nor Pacific ■ 16', 16% 16 s , 16 3 ,
Penn R R 37’, 26'j 27', 26',
Sou Pac 18'. 17 3 , 18', 18’,
Sou R R B'. 7* B'. B',
Union Pac .. 98’, 98% 98% 98 3 ,
West Maryland . 8 7 s , 7'* B',
Equipments —
Am Car A Fdy . 20', 20’, 20% 20',
Am Loco • 15', 15', IS'-, 15%
Am Steel Fdy .. 18’, 17', 18', IS 3 ,
Bald Loco 2 3 , 2', 2% 2%
Gen Am Tk Car 38'- 38% 38'2 38' 2
Gen Elec 30', 29', 30', 30',
Pullman Inc 41% 41 41', 41%
West Air Br 25'. 25 25 25’,
Westingh Elec .. 65’, 63’2 64 64',
Utilities—
Am A Tor Pwr * *s', S 3 5' 2
Am Power A Lit 6's S’* 5 7 , 6
A T A T 134' 2 133>, 134’ 3 134’ a
Am Wat Wks 14'2 13’, 14', 14
Col Ga A Elec 10 3 , 10', 10 3 10':
Comm A* Sou 1 7 l’ I'* 13.l 3 .
Consol Gas .. 27'* 26'. 24 26',
Elec Pwr A Lit . 4 s * 4 3 * 4', 4',
Int Hvdro Elec . 3 2 7 , 1 3>,
Interboro R T 18'* 17'* 17% 17'.
Int TAT . 10 9*. 9 7 10'
Lou G A E "A” 19', 19>, 19>* 19’.
Nat Pwr A Lit 10'. 10 10', 10’*
North Amer .... li 7 18'* 18% 18%
Pac Cit E .... 24-’. 23 T a 27 24
INDIANAPOLIS, WEDNESDAY, AUGUST 28, 1935
Peoples Gas ... 37'* 37 37 37%
Pub Sen N J . . 40% 39 40% 40%
So Ca! Edison . 20% 20' 4 20% 20%
Std Gas 5% 5' a 5% 5%
Stone & Webster 7% 6% 7% 7%
United Corp .. . 4% 4% 4% 4%
Un Gas Imp . 14% 14 s * 14 7 a 14 7
Ut, Pwr & Lt, ‘A 1 32% 4 3
Western Union.. 44% 42’a 44' a 43%
Rubbers—
Firestone ’.4% 14** 14 s * 14 3
Goodrich 9% B’a 8' * 8%
Goodyear 19% 19 19’ 4 19%
U S Rubber . 13% 13% 13' 4 13%
U S Rubber pfd 36 35% 35% 36
Miscellaneous—
Allis Chalmers.. 26 25' 4 25% 26'a
Am Can 137% 136% 136 7 a 137
Am Mach & Fdy 22% 22' 4 22% 22%
Anchor Cap . 13% 13% 13' 4 13
Brklyn Man Tr 42' 41% 41% 42
Burroughs Add .. 17% 17% 17% 17%
J I Case 68% 67 68% 68%
Conti Can . ... 82% 82% 82% 82%
Caterpillar Tract 52% 51% 52 52
Crown Cork ... 33% 33% 33% 33%
Curtis Pub 18 18 18 18
Curtis Pub pfd . 104% 104% 104% 105
Deere &Cos 37% 36% 36% 36%
Eastman Kodak 146% 145% 146% 146
Foster Wheeler • 16 15% 16 16
Gillette 17% 17% 17% 17%
Glidden ... 32% 31 32% 31
Ingersol Rand .. 93% 93 93% 92%
Inter Hirv ... 53% 52' 53 '/* 53
Natl Cash Reg. 16% 16% 16% 16%
Owens Bottle . . 97 97 97 98%
Rem Rand 11% 11 11% 11%
Worthingt'n Pmp 16% 16% 16% IT
Foods—
Am Sugar 53% 52% 52% 53%
Armour 4% 4% 4% 4%
Beatrice Cream. 15% 15% 15% 15%
Borden Prod . 25 24% 24% 25%
Canada D G Ale 9% 9% 9% 9%
Cont Bak “A".. 7% 7% 7% 7%
Corn Prod ... 67% 67 67% 67%
Crm of Wheat .. 37% 37% 37% 37%
Cuban Am Sugar 6% 6% 6% 6%
Gen Baking . ... 11% 11% 11% 11%
Gen Foods 34% 34% 34% 34 /a
Gold Dust 15% 15% 15% 15“*
G W Sugar ... 29% 29 29% 29
Int Salt 29% 29% 29% 30
Loose Wiles .... 38% 38% 38% 38 a
Natl Bisciut . ■ 28 5 a 27% 28% 28 2
Natl D Prod 15% 15% 15% 15%
(By Abbott, Proctor A Paine)
(Reprinted from Yesterday)
DAILY BOND INDEX
20 20 20 60
Inds. Rails Utils. Bonds
Today 88.9 79.3 100.5 89.6
Yc erday 89 0 79 9 100 ? 89.9
Wr k ago 89.1 79.6 101.4 90.0
Month ago 89.0 78.6 100.2 89.3
1935 high 89.3 86.4 101.6 90 4
1935 low’ 83.6 71.0 89.3 83.0
(Copyright, 1935. by Standard Statistics)
V. S. GOVERNMENT BONDS
Liberty. Prev.
Close, close.
4th 4',s 1933-38 100.27 100.29
Treasury*
4>*s 1947-52 115.7 115.14
4s 1944-54 110.10 110.15
3 3 ,s 1946-56 109.7 100.14
3 : 's 1940-43 106.31 *.57 4
3-%s 1943-47 106 3 106.5
3 3 s S 1941-43 106.30 107.7
3',s 1943-45 .. 105.12 ’.05.11
3' ,s 1941 107.16 107.19
3'*s 1941-46 104.25 105.3
3’,s 1946-49 102.28 103.5
3’,s 1949-52 102 16 102.20
3s 1951-55 101.27 102.4
3s 1946-48 101.24 102
2 7 ,s 1955-60 99 12 99.16
Home Owners Loan Corp.
2%s 1949 99.3 99.3
3s 1952 100.3 99.30
Federal Farm Mortgage Corp.
3Us 1964 101.15 101.26
3s 1949 100 6 100
os 1947 100.18 100.16
2%S 1947 99 99.20
DOMESTIC
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Close, close.
Alcg Corp 5s '44 76 77',,
Am Foreign Power 5s 2030 ... 70'* 72
Am Tel A Tel s'- a s '43 112', 112%
Am Tel & Tel 5s '65 112' * 112’ 2
Arm 5 , Cos Del) s'is '43 103'* 105
Atl Coast Line 4s '52 92% 93Va
Atl Coast Line 4%s ’64 77', 77
Atch Top & S Fe 4%s 48 107 107
Am Water Wks 5s '44 100'2 102'2
Am Rolling Mill- 4',s '3B ... 110 112
Balt A Ohio 5s '95 70'* 72
Balt A Ohio 6s '95 80 81’*
Balt A Ohio 4 1 2 s 60 .... 56'2 58'*
Buff Roch A Pitt 4'_.s '57 .. 62% 63‘2
Beth Steel 5s '36 103'/, 103',
Chi MU A St P 5s 2000 s'* 5V*
Cleve Un Term 5s ’73 99'* 99%
Cleve Un Term 4%s '77 92', 82'2
Coi Gas ffss May ’52 93'2 94'2
Col Gas 5s ‘6l 93'2 94
Can Pac Perp 4s 87 87
Cent Pac 5s '6O 87'* 88
Big Four 4' 2 s '77 72 >2 73%
Big Four 4%s '77 72' 2 73'*
Big Four 5s 63 82 83
Colo A So 4 1 2S 'BO 54'* 57'*
Chi A West Ind 4s '52 98 98'*
Chi A West Ind 5 1 2 s '62 105% 105 3 ,
Chi A Nor West 4 3 ,s '49 11 12
Chesa Corn 5s 47 iO6 106'■*
Del A Hud 4s ’43 82 82 3 *
N Y Dock 4s 'sl 70 71
N Y Dock 5s '3B 53 53>2
Erie 5s '75 67 68'*
Erie 5s '67 . . b7'2 69',
Gen Cable 5%s '47 94 94
Grt Northern 7s '36 97 97'.,
Grt Northern 4' 2 s '76 84’* 85
Grt Northern 4%s "77 .... S3 3 * 85
Gen Stl Cast WW s';s '49 ... 80 79',
Hud A Manhat Ref 5s '57 . 85 3 4 85 3 4
111 Cent 4%s 66 50 3, 51%
111 Cent Jt 4’is 63 60 60%
111 Cent 5s '63 60 3 4 62
Interlake C A I 5s 'sl 77 77
Interntl Hv Elec 6s '44 46 47%
Interntl TAT 4%s '39 75 77
Interntl T A T 5s '55 71', 72
Interntl TAT 4’ 2 s '52 67 69
P Lorillard 7s ’44 130 130%
McKess A Rob 5%s 'SO 100% 100%
Midvale Stl 5s '36 102% 102',
Natl Dairy 5%s '4B 103 3 4 103 3 ,
Natl Steel 5s '56 103 7 , 104'-,
Nickel Plate 4%s '7B 60 61' 2
Nickel Plate 5%s '74 71 72%
Nickel Plate 6s '35 63'i 64%
N Y Cent 5s 2013 . 72'2 74'*
N Y Cent 4'-s 2013 '6l 100' 2 100 3 *
Nor Pac 3s 2047 72 73
Nor Pac 4'2.s 2047 . 83' 2 84
Nor Pac 6s 2047 97 7 , 98
Nor States Pow 5s '4l .... 106 3 * 107*4
Otis Steel 6s '4l 99 99 3 ,
Penn Ry 4',s 'B4 103 * 104 s ,
Penn Rv 4',s 'Bl 103 : * 104 3 *
Penn Rv 4' 2 s '7O ) 96 7 , 97
Pac G A E 5s '42 106 106'4
Portland Gen El 4'-s '6O ... 72', 74 3 *
Para Publix 5'2S ‘SO 103 102'2
Penn PAL 4' 2 s 81 104>2 104'.-
Postal T A Cab 5s '533375 7 36',
Rem Rand W W s'-s '47 .... 104 104- 2
Shell Union Oil 5s '47 102% 103
Sou Pac 4'2S '6B 72 3 * 73'4.
Sou Pac 4'2.s 'Bl 72 72 3 *
Sou Pac 4'2s '69 72 3 , 73'*
Sou Pac 4s 49 79’, 79"-,
Sou Rail 4s '56 36% 38
Sou Rail 6s '56 46% 47%
Sou Rail 6%s '56 48% 49%
Sharon Stl Hoop 5%s '4B 98 98
Texas Pac 5s 'BO 91 3 * 91 s ,
Texas Pac 5s '79 9! 91%
Union Pac 4s '47 110 3 , 110'.
United Drug 5s 57 91% 91 s *
U S Rubber 5s '47 96', 96',
NY NH A Hart 6s '4B 37% 38
NY NH A Hart ■‘%s '67 33 35
Warner Bros 6s 33 75'* 76 3
Western Marv 4s '52 95'*
Youngstown SAT 5s '7O . 97', 98
Youngstown S A T 5s 78 ... 98 98%
FOREIGN
Bra*il 8s '4l .... 24% 24
Canadian Govt 4s '6O 103% 104
Denmark 5%s '55 96 97
French 7s 49 173% 171%
German s%ss '65 24** 24%
German 7s '49 32’, 32 s ,
Italy 7s 'sl 50% 52%
Japan 6%s '54 98% 98
Poland 7s '47 .106 108%
Rome 6%s '52 42% 45%
Tokio City 5%s '6l 80% 81
Yokohama 6s ‘6l ............ 83Is 64
N. Y. Bonds
Purity Bak . 13 s . 13% 13% 13%
S Porto Rico Sug 24 23% 24 24%
Std Brands . ... 13% 13% 13% 13%
Un Biscuit ... 21% 21% 21% 21%
United Fruit . • 68 67% 67% 68
Wrigley 75% 75% 75% 77
Retail Stores—
Assd Drv Goods 13% 13% 13% 13%
Best & CO 48% 48% 48% 48%
Gibel Bros . . A% 4% 4% 4%
Hahn Dent Sts 6% 6% 6% 6
Kresge S S 26% 25% 25% 26%
Kroger Groc ... 30% 30% 30% 30%
Macy R H 45% 44% 45 46
McCrorv St .... 11 11 11 11%
McLellan St . 12% 12% 12% 12%
Marshall Field. 9% 9% 9% 9%
May Dept St ... 51 50% 50% 50%
Mont Ward 33% 32% 33% 33%
Penney J C ... 81 80% 81 80%
Safeway St ... 39% 39% 39% 39%
Sears Roebuck . 54 7 8 52% 54% 54%
Woolworth 61 60% 61 60%
Aviation —
Aviation Corp .. 4 3% 4 3%
Boeing Aircft .. 15% 14 14% 14%
Curtiss Wright 2% 2% 2% 2%
Curtiss Wright A 8% 8 8 8%
Douglas Air ... 30% 29% 30% 30%
Nor Am Av .... 3% 3% 3% 3%
Sperry Corp 12% 11% 10% 12%
United Aircraft N 17% 17% 17% 17%
Chemicals —
Allied Chem 161% 161% 161% 162%
Am Com Alcohol 24% 24% 24% 24%
Col Carbon . 87 85 86 88
Com Solvents .. 19 18% 18% 19
Du Pont 118 115% 118 117
Freeport Tex .. 26% 25% 26% 26%
Liquid Carb ... 29% 29 29% 29%
Math Alkali . ... 30 29% 29% 29%
Natl Dis (newt.. 27% 27 27% 27%
Schenlev Dist 33% 33 33% 33%
Tex Gulf Sulph 34% 34% 34% 34%
Union Carbide . 63% 62% 63 63%
Drugs—
Bristol Myers . 35 35 35 35%
Coty Inc 5 4% 4% 4%
Lambert 24% 24% 24% 25
Lehn & Fink ... 13 13 13 13
Sterling Prod . 64 64 64 64
Un Drug (new). 9% 9% 9% 9%
Vick Chem ... . 36% 36% 36% 37
Zonite Prod .... 3% 3% 3% 3%
Financial—
Adams Exp .... 8% 7% 8% 8
Allegheny Corp . 1% 1% 1% 1%
Am Int Corp ... 8% 8% 8% 8%
Lehman Corp ..92 91 91 90%
Transamerica 7% 7% 7% 7%
Tr Conti Corp . 5% 5% 5% 5%
Building—
Am Radiator 17% 16% 17 17%
Gen Asphalt 18 17% 18 18
Holland Furnace 14 13% 13% 14
Int Cement . 29% 92% 29% 29%
Johns Manville 65% 64% 65 65%
Libbv Owens Gls 35 34% 35 34%
Otis Elev 18% 18% 18% 18%
U S Gypsum ... 62 62 62 62%
Household—
Col Pal Peet ... 17% IT% 17% 17%
Congoleum ... 36% 36% 36% 36%
Kelvinator . 10% 10% 10% 10%
Mohawk Carpet . 16 16 16 16%
Proc & Gamble . 51% 51% 51% 51%
Se.-vel Inc ... 11 10% JO% 10%
Simmons Bed 14% 14% 11% 15
Textiles—
Beiding Hem ... 12% 12% 12% 12%
Celanese Corp . 26% 26 26% 26%
Collins Aikman . 25% 24% 25% 25%.
Indus Rayon .. 29% 29% 29** 29%
Kayser Julius .. 19% 19% 19V* 19V*
ALIEN INFLUENCES
AGAIN HELP WHEAT
Rise of 1 4 to V 2 Cent Is
Shown in Early Trading.
Bp United Press
CHICAGO. Aug. 28.—Higher
prices in the Liverpool market lent
a firm undertone to the wheat mar
ket today on the Board of Trade.
At the start wheat was U to Va
cent higher, corn was unchanged
to % cent higher, oats were un
changed to up 's cent, and rye im
proved Ty to Vi cent.
Scattering buying of wheat early
was generated by the unexpected
firmness in the Liverpool market.
(Bv Abbott. Proctor <fc Painei
12 iN i Prev.
Hheat— High. Low. Chicago, close.
Se. 88% .87% .88 .88
De 90% .89% .89% .89%
M>v 92 91% .91% .91%
Corn —
S-pt 73% .72 .72% .73
Dec 57 .56% .56% .56*,
May 58% .57% .58 .57%
Oats—
Sept 25% 25% .25% .25%
Dec 27% 28% 26% .27
May 29% .29% .29% .29%
Rye—
Sept 42% .41% 41% 41%
Dec 44% 44 44% 44%
May 47% 47% .47% .47%
LOCAL CASH MARKET
City grain elevators are naying 78 cents
for No. 2 soft red wheat. Other grades on
their merits. Cash corn No. 2 yellow
72 cents and oats 19 cents.
Chicago Stocks
(Bv Abbott, Proctor <fc Paine)
12 'Noon' Prev.
Chicago, close.
Butler Bros 6% 6%
Asbestos Man 33
Bendix 18 18%
Bord Warner 47 47
Chicago Mail 30% 30%
Chicago Corp 2% 3
Chicago Corp pfd 38 % 39
Cord 3% 4
Cities Service 2 1%
Elec House 16% 16%
Grt Lakes Dredge 21% 22
Noblitt Sparks 21 21%
Swift & Cos 28% 29
Zenith Radio 4% 4%
Berghoff . 4% 4%
Aew York Curb
IBv Abbott, Proctor & Panel
1 P M. Prev.
N Y. ciose.
Alliec Mills 17', 17',
Alumn Cos of Am 56' 3 5S' =
Am Cvanide Bi 22 1 , 23',
Amer Superpower I', 1*
Art Metal 7* 7 s ,
Atlas Corp 12 3 , 12*,
Carrier Corp 13 12’,
Deere A- C 053336 3 36' 2
Distillers Corp 23*, 23 3 ,
Elec Bond and Share 11' 10' 2
Fisk Rubber 5 7 6
Ford of Can •A• 25' 2 25',
Humble Oil 57 5 , 56*.
Imperial Oil Ltd IT: 19*,
Lake Shore Min 48', 49',
Lone Star Gas 7 s , 7' 2
Natl Bellas Hess 13,I 3 , IS
Newmont Mm 53 S3 1 ,
Nia Hud Pwr 8 3 , 6 3 ,
Novadel Agene 24’* 24 :
Pan-Am Airw-ays 37333,9 3 ,
Penn Road 2 1 , 2',
Sonotone IT.1 T . 2
St. of Kv. 20*i 20 7 a
Wrigbt Hargrave* Min......... 7’s J\
FLOYD ODLUM'S
STRIDES MADE
IN DEPRESSION
Atlas Corp. Leader Started
Up When Everything Else
Was Going Down.
By linns Special
NEW YORK. Aug. 28. Floyd
Bostwick Odium made a 14-million
dollar bet on U. S. recovery in 1930.
Starting upward at a time when
everything else was going down, Mr.
Odium now heads the largest in
vestment company in the country,
the Atlas Corp. The story of how
he licked the depression and built
up a mammoth concern is teld in
an article in Fortune Magazine Ic-
September.
“In 1926 Floyd Odium's little At
las took a good shellacking in which
its profits were cut in half. At the
end of 1929 Floyd Odium's Atlas had
$14,000,000 in cash and quick as
sets. Today Atlas Corp. is the big
gest investment company in the
U. S with the remains of 22 sepa
rate investment companies piled up
in it and net assets of more than
SIOO 000,000, the magazine says.
Hailed as Wizard
“Floyd Odium is sometimes hailed
as anew wizard of Wall Street, one
of the very few wizards extant in a
day when most of the magicians
have packed up their decks of cards
and vanishing rabbits and settled
down to a quiet life, sans necro
mancy, under the watchful eye of
the Securities and Exchange Com
mission.”
With $14,000,000 in quick assets
in 1930. Mr. Odium started in ac
quiring other investment houses at
a time when money was scarce and
when the prices were good.
Mr. Odium is 43 “and looks as
unremarkable as any man you
might see squeezing out of a New
York subway car. Specifically, there
is some truth in this. Mr. Odium
is middlesized, pale, and inclined to
be spindling; he wears horn glasses,
he is getting bald, and he might at
first remind you of any hard-work
ing male secretary. But once you
know that he is 43 you are sur
prised. He doesn’t look it.
Invariably Moves Fast
“He invariably moves fast, and as
though he knows exactly where he
is going. If you hear much of his
orderly talk you might guess for
yourself that he has been an ex
cellent corporation lawyer. If he
takes off his misleading horn rims
and looks at you fixedly you will see
the long, contained, confident face
of an excellent trading strategist.
“And if the face suddenly shows
a delight which Mr. Odium makes
no attempt to conceal, and he says:
‘You know, three times I have had
the pleasure of getting control of
a company before the directors had
any idea I was doing it’—if this
happens, you may begin to get an
idea of Mr. Odium's fundamental
character.”
In the class book of 1912 at the
University of Colorado, the terse
comment, “manages to get his
hands on everything that makes
money,” appears under Mr. Odium's
picture. Born at Union City, Mich.,
the fifth of five children of a
Methodist minister, began work
early and earned his way through
the university.
He studied law. practiced law at
Rock Springs. Colo., and became
connected with the Utah Power and
Light Company, a subsidiary of
Electric Bond & Share. Later he
moved to the New York office of
Bond & Share. In 1920 he became
vice president and the legal back
bone of the company.
Money and Exchange
INDIANAPOLIS STATEMENT
Clearings $1,796,000
Debits 4,650,000
TREASURY STATEMENT
(By United Press)
WASHINGTON. Aug. 29 Government
expenses and receipts for the current fiscal
year to Aug. 26 compared with last year:
This year. Last vear.
Expenses .... $1,195,023,912 *859.805,119
Receipts 549.630.110 459.229.085
Deficit . 645 393.802 400.576.033
Cash Balance . 1,516.580,242 2.213.857.565
Other Livestock
(By Times Special)
LOUISVILLE. Aug. 28.—Cattle—Receipts.
500, run mostly plainer grade grass cattle:
demand fairly broad from most buying
sources: market moderately active general
ly steady: bulk common to medium grass
steers and heifers. $547 7.25: common
dairybreds down to $4 25 and cutter grades
below: better finished grain on grass
1 steers and heifers quotable to $9 50. with
i dryfeds eligible sometvhat higher: bulk
i beef cows. s4@ 5 25: good beef breds and
I smooth heifer types quotable upwards of
; $5.50: most low cutters and cutters. $2.25
j 45:3.50; sausage bulls considered salable at
: $5.50 down: better beef type stockers and
! stock calves. $6,504/8 25: choice Hereford
calves eligible higher; inferior to com
mon south?rn dairybreds. $3,504? 4.50:
; better bred kinds to $6. Calves—Receipts.
; 600. including 125 stock calves: market
steady: bulk good to choice grades. SB4/
|9: medium and lower grades, $7 down,
j Hogs—Receipts. 600: market. 15c higher:
i top and bulk desirable. 180-240-lb. weigh*.*.
$11.25; 245-295 lbs.. $10.75; 300 lbs. up.
$10.35: 160-175 lbs.. $10.80: 140-155 lbs..
$9 95: 120-135 lbs.. $9: sows. $8 90. Sheeo
—Receipts. 2200, including 1200 stock ewes;
run light and quality of lamb supply
plain: market, not established some buv
ers talking around 50c lower on better
lambs with sellers generally asking
steadv: most better lambs Tuesdav $8 25 to
j mostly $8.75: fat ewes, $2.50 down: better
i stock ewes. $7 50® 9 a head with desirable
Montana yearlings mostly $8®8.50.
)Bv United Press 1
LAFAYETTE. A tg. 28.—Hogs—Market.
20® 25c higher . 225-235 lbs., sll 45. 235-
250 lbs. sll 40: 250-275 lbs. sll 35: 275-
300 lbs., sll 20: 300-325 lbs.. *.'1.10: 210-
225 lbs. *1135; 300-210 lbs.. *ll 30: 190-
200 lbs.. sll 25: 180-190 lbs *11.15: 170-
180 lbs. $11: 160-170 lbs.. $lO 85; 150-163
jibs. $10: 100-150 lbs.. s9® 9 75; roughs,
59.75 down: stags, $8 25 down Calves,
j steadv; top $8.50. Lambs, steadv; top
$8 25.
FT. WAYNE. Aug. 28 —Hogs—2o® 25c
i higher; 200-225 lbs.. *11.20: 180-200 lbs..
sll.lO 160-130 lbs. $10.85 225-250 lbs.,
$1130; 250-275 lbs. *ll 20: 275-300 lbs..
$9 50 120-130 lbs. *9 25. 110-120 lbs $9;
100-110 lbs *8.75: rough'. $9: stags. *7 25
Calves, *9.50. Lambs. $8.50
MARKET VALUE DROPS
By Timex Speeial
NEW YORK. Aug. 28 —The mar
ket value of 50 representative stocks
listed on the New York Stock Ex
change at the end of the week of
Aug. 24 amounted to $14,759,364,375.
a decrease of $425,013,500, or 2.80
per cent compared with the preced
ing week. Paul H. Davis X Cos. re
ported today, t
Belya Devaluation Profitable
Devaluation of the belpa and revaluation of the gold
reserves of national banks resulted in a profit of ap
proximately Sl2S.ooo.onn for Belgium, according to an
official announcement mode public today.
PAGE 11
New Business Books
Available at Library
The following new business
books are now available at
the business branch of he In
dianapolis Public Library:
THE EMPLOYMENT EXCHANGE
SERVICE OE GREAT RRITUN hv
H S. Chrr iddrn >-■• Staid old Eng
land has dabbled in 'regimentalien,
insuring over 12 000.000 against un
employment."
GETTING ALONG WITH rFOPI E
<hv Milton Wright! V behooves tis
to set alone as well as we can with
those members of the human race
who can not be avoided."
MARXISM \ SYMPOSIUM 'hv J
Middleton Murrv. G. H D. Cole and
othersi— Os this new world of ma
chine production Marx was the con
sciousness His whole life work msv
be described as an effort to make
men conscious of the nature and
implications of that change ”
POPULATION PROBLEMS (hv
Warren S. Thompson. Second Edi
tion)— Human welfare is so ob
viously bound up with the growth in
numbers."
CONTRACTS IN ENGINEERING
(bv James I. Tucker) The engineer
needs substantial familiaritv with
many legal principles."
PORKER PRICES
CONTINUE RISE
Market Generally 10 to 25
Cents Higner; Supply
Decreases.
A combination of light receipts
and a stronger demand at the In
dianapolis Stockyards today sent
porker prices sharply 10 to 25 cents
higher than yesterday’s best aver
age. In the extreme lightweight di
vision some classes were as much
as 50 cents above the previous close.
Receipts were estimated at only
3500. compared with a general run
of approximately 5000 in recent pre
vious sessions. The upturn was also
reported at surrounding livestock
markets and influenced by the same
factors as at the local exchange.
Receipts today at 11 surrounding
livestock markets in this district
amounted to only 29.000. compared
with a total of 40,000 at the same
centers last week. All but 188 of to
day’s supply was consumed in active
trading immediately after the open
ing. This indicates sharp improve
ment in the consumers’ demand for
hogs in this district.
The general bulk from 160 to 180
pounds sold at sll.lO to $11.30. while
choice kinds, scaling 180 to 200
pounds, brought $11.30 to $11.45.
Few better classes sold downward
from $11.60, anew top price for
more than a week. Light-lights,
weighing 120 to 140 pounds, cashed
in at $9.50 to $9.75, while 100 to
120 pounds brought $9 to $9.25.
Packing sows sold at $9.25 to $lO.
Activity increased in the cattle
market, although prices were most
ly unchanged at the previous close.
Desirable medium and heavyweight
steers directed to shippers were val
ued from sll to sl2. Others sold
mostly at $10.50 down. Mixed steer
and heifer yearlings held at sll,
while most heifers remained under
$9. Receipts were 1200.
Vealers again continued station
ary. Bulk of good and choice kinds
was salable at $9 to $9.50. Receipts
were 700. Lambs also displayed a
steady trading range, with bulk of
better grade ewe and wether lambs
selling at $8.50 to $9 50. Bucks were
discounted from 50 cents to sl.
Slaughter sheep sold at $1 to $3.25.
Receipts were 2300.
HOGS
Aug. Bulk. Top. Receipts.
22. $11,157(11.25 $11.25 4500
23. [email protected] 11.30 4000
24. [email protected] 11 25 1500
26. 11,[email protected] 11.30 5500
27 11.20® 11.35 11 35 4500
28. [email protected] 11.60 3500
Light Lights
1140-160i Good and choice $lO 0047 11.00
Medium 9.50@10 50
Lightweights
1160-130) Good and cohice . 11.00'-/11 30
Medium . .. 10.254111.10
< 180-2001 Good and choice 11.304511 45
Medium [email protected]
Medium weight
i2OO-220i Good and choice . 11.40® 11.50
1220-250) Good and choice . 11.504/ 11.60
Heavyweight
)250-290i Good and choice . [email protected]
1290-350) Good and choice . 11 204/ 11,40
Packing sows
(275-350) Good 9 754? 10.00
(350-4251 Good 9 60@ 985
(425-450) Good 9.3542 975
(270-315) Medium 9.25@ 9.60
Slaughter pigs
'IOO-140) Good and choice . 9 00® 10 00
Medium 8 25@ 9.75
CATTLE
—Receipts, 1200—
(500-900) Choice $10.254?!150
Good [email protected]
Medium 6.75@ 9 00
Common 4 75@ 6.75
<9OO-11001 Choice 11.254/ 12.00
Good 9 254/ 11 50
Medium 7 004? 9 25
Common 5 004? 7 00
(1100-13001 Choice 11 504/ 12 25
Good 9.504/ 11 50
Medium 7 50® 9 50
11300-1500) Choice 11 594/T2.25
Good 9 50@ 11.50
Heifers
(500-750) Choice 10 004711 00
Good 8.504? 10.00
Common and medium ... 450 -/ 8.50
(750-900) Good and choice.... 9 004/ 11 00
Common and medium 4 75@ 9 00
Cow*
Good . 5 504? 650
Common and medium 4 00@ 5 50
Low cutter and cutters 2 754/ 4 no
Bulls, good 8 004? 6.75
Cutter, com and med.. bulls 4 25@ 600
VEALERS
—Receipts. 700-
Good and choice $9 004? 9 50
Medium 4 00@ 7 00
Cull and common 3 50@ 6 50
—Calves—
-1250-500) Good and choice .... 6 504? 925
Common and medium .3 50@ 6 50
—Feeder and Stocker Cattle—
—Steers—
-1500-800) Good and choice . 6 504? 8 50
Common and medium .4 254? 6 50
(800-1050) Good and choice .6 754? 8 50
Common and medium 4 50@ 6 75
—Cow*—
Good 4 254? 4 75
Common and medium 3 50@ 425
SHEEP AND LAMBS
—Receipts 2300
Lambs. 90 lbs. down, good and
choice $3 50 4? s 25
Medium 6 25@ 8 50
Ewes
)90-125i Good and choice 2 25@ 3 25
All weights, common and me
dium 1.754? 2 75
(120-150) Good and choice. 1 004 t 2.25
DIRECTORS MEETING CALLED
fill 7 1 rnm Special
NEW YORK. Aug. 28.—Directors
of the Houdaille-Hershey Corp. will
meet in Detroit on Sept. 10 and will
consider payment of a dividend on
the class B stock, it was announced
today.
Government Bonds
Home Owners’ Loan Corporation
and Municipal Bonds
The Union Trust Cos.
it of Indianapolis ir
BOND DEPARTMENT
120 E. MARKET RH*y
$1,000,000 SUIT
AGAINST HOPSON
GETS APPROVAL
Action Seeking Refund of
Lobby Fund Would Aid
Stockholders.
Bp Times Special
NEW YORK. Aug. 28 —The worn
phrase “widows and orphans" has no
personal meaning to Murray Kan
ncr despite his resentment against
utility holding companies, expressed
in two suits against the Associated
Gas and Electric Cos.
Mr. Kanner and his business
partner. Simon Levor, ask. as stock
holders. that Howard C. Hopson and
John I. Mange, treasurer and presi
dent of A. G. and E. give back to
the system $1,000,000 allegedly spent
lobbying against the Wheeler-Ray
burn bill.
“But we aren't widows or or
phans.” Mr. Kanner said today at
his office, 1450 Broadway. “I'm a
bachelor. Sos my partner."
Would Help Investors
Their court actions—filed in New
York Supreme Court and New Jer
sey Chancery Court —are intended,
however, to benefit the stricken in
vestors, he maintained.
“The ‘death sentence' plan would
benefit all of us,” Mr. Kanner said.
“Mr. Hopson and Mange are like
Midas; everything they touch turns
into gold for themselves.
“Since we started these suits
dozens of other investors have called
up to encourage us. We refer them
all to our lawyer, Archibald Palmer,
at 2 Lafayette-st.”
Mr. Kanner now owns 107 shares
of Class A stock in A. G. E„
two shares of common and three 5
per cent bonds, par SIOOO, now
quoted at S3OO.
Once Worth SII,OOO
The holdings, now worth slightly
more than SIOOO at market prices,
could have brought SII,OOO when the
market was at peak.
Mr. Kanner and Mr. Levor are
proprietors of a mercantile collection
agency. Frank & Arnold. Inc.
Mr. Fanner was asked whether he
would abandon his actions to get
an accounting of $1,000,000 in lobby
ing costs, and more than $9,000,000
in fees supposedly received by Mr.
Hopson and his associates, if As
sociated Gas offered to purchase his
holdings at an attractive price.
He said he wouldn’t give up.
Mr. Palmer said they wouldn't
give up either. “Never,” he added.
SUBSIDIARY IS FORMED
BY MORTGAGE BOARD
New Trustee Corp. in New York to
Handle Receiverships.
Ril Timex Special
NEW YORK, Au*. 28.—Formation
of a State Mortgage Commission
subsidiary called the Mortgage Com
mission Trustee Corp., was an
nounced here today.
The new commission will handle
receiverships in foreclosure cases
where the income of the property is
below 6000 a year, Wendell P. Bar
ker, chairman of the commission,
said.
More than a half dozen of such
receivers nip orders already have
been signed by Supreme Court Jus
tices in Brooklyn. Bronx and Man
hattan, and many more are pend
ing, according to Mr. Barker.
CANADIAN CAR OUTPUT
UP 17.6 P. C. IN JULY.
Total Production During Month
Placed at 13,069 Units.
By Timex Special
OTTAWA, Aug. 28.—Production
of automobiles in Canada during
July amounted to 13,069, an increase
of approximately 17.6 per cent, the
Dominion Bureau of Statistics an
nounced here today.
Total production during the first
seven months this year ending July
37 amounted to 124,335, compared
with 99.125 cars a jeai ago.
Canadian exports of automobiles
during the first seven months of
1935 totaled 43,072 cars, compared
with 31,506 in the corresponding
period last year, the report showed.
CANADA CROPS SPOTTY,
Rust and Frost Damage Is Reported
in Several Districts.
By Utiitril I’ri xx
NEW YORK. Aug. 28 Crops are
extremely spotty in the Canadian
Prairie Provinces and rust has done
extensive damage in Manitoba and
parts of Saskatchewan, according to
the crop report released here today
by the Bank of Monreal.
During the last two weeks heavy
rains have delayed harvesting op
erations and caused further lodging
while recent frosts in Alberta and
Northern Saskatchewan will reduce
yield and lower grade, the report
stated.
STOCK INDEX LOWER
By Timex Special
NEW YORK. Aug 23 —The com
mon stock index of 10 leading man
agement investment companies de
clined slightly during the last week,
according to Distributors Group, Inc.
The index stood at 16.14.
BUY A HOME
WITH A LOAN
FROM A LOCAL
Building & Loan Assn.

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