Chicago Tribune from Chicago, Illinois • 23

1 criTdA GO D-A1TL. 1935. THURSDAY. 'JANUARY'. 2 YORK CURB TRANSACTIONS NEW N.Y.

SUGAR MART SUSPENDS DYER OVER 'SQUEEZE' PLACE HOUSING REPAIR EXPENDITURES IN '35 AT $1,500,000,000 NO STABILIZATION NOW, SAYS CHIEF OF BRITISH BANK ATION GRANS DECLINE ON LIQUIDATION IN CORN SECTION HEAD OF OMEGA STORES OVINS OF TOTAL STOCK Wednesday, January' 23, 1935. Shares sold today 126,000 Total sales 1935 to date 2,876,000 Year ago 491,055 Total sales 60 3 60 360 3 60 360 360 Year ago 13 Others Censured for Part in Deal. Continued from page 21, column 5. Vogt Mfg tWenden Cop. tWestVaC West A Exp West Cart Prd West Pow Tad Westv Ch Wright Yukon rogt Mfg 'Wenden Cop.

'West'irae Vest A Exp Vest Cart prd Vest Pow prd Vestv Ch Vright rluk" Gold- Declares Other Problems Must Be Solved First. Speculative Trade Sinks to Low Level. SEC Reveals Other Large Private Holdings. Sales. tAeroSuMfg 100 Ala Pow 37 pfd 110 Allied 400 A.

25 Am Cyan 3,300 AmDistTNJ 25 Am Founders. 100 Am Gas EL. 3,100 Do pfd 175 Am Laun Meh 100 Am Light 800 Am Pneumatic 200 Am Sup Pow. 8,100 Do lst 100 Do pfd 100 Anch Post 100 APPalE1Pw pf 80 ArkNatGas A 400 Armstrong Cli 1.300 As El Ind 100 tAs A 300 Ati Cst 100 Atlas 100 Do war. 300 Bald bond rts.

200 fElue Ridge 100 tDo cv pfd 100 B-Bilt7 1st pi 100 BrAmOil cou 100 Brit Celan 100 Buckeye 50 Bunk Hill 150 Butler Bros 1,300 Cab Wir pf 100 tCabElProd vt 100 Can Marc Wire 300 7 tl'e Carrier Corp 300 Sales. tAeroSuMfg 100 Ala Pow 37 pfd 110 allied 400 A. 25 Am Cyan 3,300 Am Dist 25 Ain Founders. 100 Am Gas EL. 3,100 Do pfd 175 Am Laun Mch 100 Am Light 800 Am Pneumatic 200 Am Sup Pow.

8,100 Do lst 100 Do pfd 100 Anch Post 10(1 AppalEIPw of SO ArkNatGas A. 400 Armstrong Ck. 1,300 As El Ind 100 tAs A 300 Ati Cst Esh 100 Atlas Corp 100 Do war. 300 Bald bond rt. 200 tBlue Ridge 100 tDo cv pfd 100 B-Bilt7 lst of 100 BrAmOil cou 100 Brit Celan 100 Buckeye 50 Bunk Hill 150 Butler Bros 1.300 Cab Wir pf 100 tCabElProd Vt 100 Can Marc Wire 300 7 5co 25 Carrier Corp 300 New York, Jan.

Federal Housing Administrator James A. Moffett told the annual convention of the Northeastern Retail Lumber Metes association today that the government campaign to stimulate home renovation may be expected to "generate $1,500,000,000 of spending for repairs and improvements during the coming year. The money is to come from private lending sources, on loans insured by the government, to the extent of perhaps $500,000,000, according to Moffett. Be said prospect of rapid expansion of loans for such spending was due to the education of private lending institutions through efforts of the federal housing administration in character lending." He saw a future in such lending for the stimulation of industry, not only in housing, but in the purchase of other goods. Moffett said home renovations already under way through the country, totaling $200,000,000, and an equal amount in industrial plant modernization had already provided jobs for about 750,000 carpenters, plumbers and other tradesmen dependent on the heavy industries, at an actual expenditure to the government oC $1,000,000.

BY THOMAS FURLONG. The grain market teetered uncertainly during most of the trading session yesterday until the last hour and then tipped downward. So thin was the volume of business as a result of the apparent abdication of speculation that a moderate sized order, was enough to send the market off on a new track. When the closing bell halted the list- 1 less affair, May wheat was selling a quarter of a cent a bushel below Tues. 1 day's closing quotation and May corn was quoted 112 cents a bushel lower.

Other grains were slightly lower, although the later future contracts in wheat finished at small gains. commitments a fortnight ago the board of managers of the exchange set a price of 2.33 cents a pound as the basis for closing of outstanding short contracts. Longs balked, contending it was not fair to them, and a committee Was formed which took the matter up with federal authorities. On Jan. 10 Senator Vandenberg introduced a resolution for an investigation of the squeeze," which was later carried on.

The belief is that the board's action of today was partially inspired by this development and prospects of some further unpleasant publicity. The "squeeze" is also said to be under scrutiny by the AAA, and a report will be submitted to Secretary Wallace at an early date, it is understood. Immediately after the board's findings were announced C. C. Riggs, a member of Lamborn and also a member of the board of managers of the exchange, resigned from ths board as a result of the board's action.

Late last night, the exchange announced today. Kuno D. Bormann no. tified the exchange of his resignation from B. W.

Dyer Co. Bormann joined the firm only last week. Dyer Asserts Ile Is "Goat." B. W. Dyer declared he had been made the goat" of the investigation and that his conscience was clear.

"Practically without exception my firm and clients were not net short of sugar, but were short of December against other sugar that could not be delivered," he said. "They were not raiding the market and would have been glad to have had general sugar prices on a higher level because of the sugars they were long in equal amount. The cause of the complaint was the technical corner which existed in the midst of plenty. Thus while Louisiana, Florida and beet sugar producers were selling their production in December based on a raw price of about 1.60 to 1.70 cents Cuban basis, the December shorts were made to pay 2.33 cents or 63 points higher." Long interests also expressed dissatisfaction with the findings of the board. The protective committee so-called for holders of 1934 December sugar contracts, of which Carlos G.

Garcia is chairman. issued a statement today protesting against the exchange's ruling on the December Sales. Net thous. lliih. Low.

Close. chge. 17 Ala Pow 5s '46 94 93 94 5 do 5s '51 8712 8712 8712 1 8 do 5s '68 7912 7'7 7912 312 82 do 412s '67 7312 707, 731-L-1- 3142 21 do 5s '56 8741 8674 87 14 Alum Co 5s '52 10612 10510012 112 Alum Ltd 5s '48 100 9912 100 1 9 58 '43 95 91 944 1 5 Am El 68'57A 912 974 912 12 37 5s 2028 94 911 5 Am 5s'53 2212 22 2212 1 67 Am 682016 5.51A, 15412 54 1 Am Bad 4,31 105 105 27 Am Mill 5s 48 9912 1)941 9941 12 19 Am Seat 6s '30 82 12 8112 8212 112 9 Appal EP 5s 10212 103 12 1 Appal 6s2024A 90 90 90 102 Ark 5s '50 8212 8012 8212 112 11 As El 4s '53. 32143 .3213 3212 16 As 68 '50 15 1512 15 3,1 Net hous. high Low Close.

(lige. 17 Ala' P(' 5 8 46 "4 T'i 4 5 do 5s 51 8712 8712 8712 1 8 do 5s '68 7912 77 7912 312 8'2 do 4125 '67 7312 '7012 731-8 21 do '56 87 8012 87 178 14 Alum Co 55 '52 10612 1051061i .12 Alum Ltd 55 '48 100 9911,100 1 9 58 '43 95 91 9481 1 5 Am El 65'57A 9 9- ,1,,, 37 55 '2028 94 91 94 15 1S 5 Am 55'53 2212 22 I 67 Am 682016 55u 5411 51- 11 1 Am Bad 4125 105 105 27 Am Mill 5s 48 997 0941 9971- 12 19 Am Seat 6s 136 8212 8112 8212 112 9 Appal EP 55 102-i, 103 18 1 Appal 90 90 90 .02 Ark bs '56 8'212 8012 8212 17,5 11 As El 4125 '53. 3215 32- 16 As 55 '50 15 1512 15 12 (Chicago Tribune Press Service. Washington. D.

Jan. 23.SpeciallNathan L. Cohn, Chicago, chairman of the board of Davega Stores corporation, reported to the federal securities exchange commission today he owns directly less than five per cent of the company's stock. Cohn, who complied with the section of the securities act requiring directors to report their stock holdings, gave his holdings of Davega common stock as 10,837 shares. This stock, on the bases of yesterday's closing price, was valued at $89,696.

Since the Davega corporation has reported previously to the SEC that it has 256,500 shares of common stock outstanding, Cohn's 10,537 shares give him an interest of slightly more than 4 per cent. Tells of Transfers. Cohn reported also that during December he had sold 5,100 shares of Davega Stores corporation common, now worth $40,800, to the Retail Stores corporation, of which he is a director and shareholder. In addition, Cohn said that in December he bought from Mrs. N.

L. Cohn ZOO shares of Davega common. Most valuable stockholding reported to the SEC today was that of Demon S. Prentice, New York, director of the National Supply company. His 6,190 shares of preferred stock in that company have a market value, on the basis of yesterday's prices, of $274,681.

Among veil known names included in today's reports was that of Parry P. Saylor, New York, president of Canada Dry Ginger Ale, Inc. Mr. Saylor told the SEC he owns 13,344 shares of the company's stock, with a current market value of approximately $203,500. Although he is president the company, his stockholdtoes in it represent only 2.62 per cent Of the 512,631 shares of common stock which Canada Dry has outstanding.

Holdings 31 Per Cent of Total. A. 11. Bryant, Bloomfield, N. president of the International Safety Razor corporation, reported he holds shares of the corporation's class stock.

This makes him the owner of 24 per cent of the stock, since the Disue amounts to only 173,973 shares. Irwin H. Cornell, New York, vice president and trustee of the St. Joleph Lead company, reported 5,177 shares of the company's capital stock, baying' a market value of $81,538. Net Sales.

Net High. Low. Close. chge Sales. High.

Low. Close. dig e. Ps'acG 103 10312 1'Ai '200 812 8 thorutdo 41413 '60 F.10212 10212 10212- 1 100 12 li 1,5 1 do '65 107 107 107 7 do 5145 '52 108 10712 108 500 415 4 3 do 65 '41 114 113114 12 200 212 2 ''i 9 Pac Inv 65'48 A 9112 90 9112 '12 25 9811. 9812 9812 51Pac 55'55 68 6512 68 212 25 7612 7612 7612 311 22 Pac 0 100 10012 25 101 1072 102 12 25 92 PI 92 1 87 8.

8'-1-- El 4s'71 F. 80 7912 7915- 166 141 23 Pen Oh Ed 68 '50, '79 76 78 1 3:3 do 513g '59 721i 70 72114, DOMESTIC BONDS. 7 Pen PS 65'47C-102 101 102 2 1 do 5s '51 98 98 98 1 12 9 Peo 4s'8IB 76 5 7512- 12 48 9 9412 23 peop do 6s '57 4 91 Lap 58,79 2 21k 2 1 Phila El 55- 5' 18 -id ill 6 do 5125 '72 .....110 110 110 14 Pied El 6125'60A 6612 66 6612- 15 7 Pied Ry 55'54A 9412 94 9412 15 Pitts Steel 05'18 0815 98 98 14 68. 6814 6814- 12 8 PotomEIP 55'36 .10512 10512 1051,5 21 PotomEd 55'56E10212 10010'2 11-1 7s'47 46 46 46 1 Portre Su 6 PwCorNY 86 85 85- rii -4. 1.

104 104 12 7 do 5s ,56 2 PuSNI11 4125'78D 86 86 8612 72 95 911,1 95 9 do 5s '66 93 93 9:1 7 do 4125 '80 8512 8518 8512 3 8 do 41,4,8 '81 86 81 86 11 50 do 6125 '37 10612 10512 106 1 28 do '52 11 10112 10112 10115 12 32 PubSvN.I 65 ctfs.12012 11912 172012 1 (Copyright: 1935: By the New Tork Times. LONDON, Jan. 23.World conditions are not yet ripe for Great Britain to return to the gold standard, shareholders in Barclays bank, 'which has assets of more than two billion dollars, were told today by Chairman William I'avill Tulte. Making the first of the annual pronouncements by the heads of the "big five" banks, Tuke warned it would be a mistake of the first magnitude for Britain to stabilize before other countries had removed existing cbstacles to international trade. The so-called gold bloc countries may have to decide between devaluation and further deflation, and if finally they are compelled to choose the latter course, we know from our painful experience that many economic and political problems must be overcome before an equitable equilibrium between prices and wages can be attained," he said.

Have Problems to Solve. Other countries have yet to solve their debt problems, both internal and external, while still others must decide whether they will by lowering their tarils receive payment of tlebts owing them in the only form in which such debts can ultimately be paidin goods and services. "Until greater progress has been made in solution of these and other problems one of the major requirements of the present situationa return to an effective international etary systemcannot be accomplished. We must have a stable basis of international trade before its volume can be substantially increased. Gold is, in my view, the only practicable basis because apart from other reasons it is the only one in which the people of the world appear to have confidence.

AVould Ilo Mistake Now. "I fed, however, it would be a mistake of the first magnitude for this country to return to gold until some of the difficulties I have mentioned has been adjusted and until there is a reasonable probability the system will be allowed to function normally. Meantime, we must make the best of conditions as we find them, developing our overseas trade in every direction possible while being careful to avoid any steps which may hinder, and taking every opportunity to as-sit world recovery." Critics of British banking policy, lie declared, simply the the security of the banks for granted and fail to realizc how such security has been achieved. They fail, he said, to appreciate the undoubted fact that it wouldn't have been attained if the banks sought for profit outside of their legitimate business by confining banking- or short term money with investment or long term money." Net High. Low.

Close. chge. 2 24 21,1 46 454 46 13 13 13 31 31 31 17 17 174 76 76 79 5 '2014 197s 20 83 83 83 14 14 14 9 0 9 1 1 1 '2 1 1 1 46 46 4ti1 r'A 1113 11 1114:1 2 71 71 1ff. 23 2214. 2234 14 5 58 9 9'34 9 8 8 toy.

2 234 234 7S 2 2 2Nr 1 17 1 40 40 40 1 2 154 15 15 3 3 3 31 :31 31. 34 34 34i4 74, 7 0 7 4 4 4 zY4, 1 1 17it 58 58 58 16 16 161I teatalin Am 600 55ii 514 3.4 Celanese pfd 100 103103 103 Do 1st pld 2501063 1051051h Celluloid 100 13 13 13 Cen St El 200 136 teentrif Pi 100 4 4 474 Chi Rh' Mch 1()0 3 4, 14 1 Childs pfd 10 26 26 26 1,3 Cities Service 2.800 1'1 Do old 200 12 11 12 Do ofd 100 1 Kleve Tract 1.000 8 7 7 tColon Oil 500 ft Colum of 100 59 59 59 Comwith Edis 100 52 52 52 NV 200 lit tCompo Sit 100 14 14 14 tCons Aire 100 9 )Vs Vs Cons Cop Min 4,300 1 1 Cons Dal 400 54 54 54 tCons Ret Sirs 300 2 2 2 tCooper Bess. 200 4 47i 474 3:1. Cord Corp 100 37; 37i 3-- 3, 200 274. 274.

tDo pfd A. 100 '26'i '2 Cosden Oil Me 100 34 i Crane Co 20() 93t 9 9 Creole Pet 100 12 121 12'14 Crocker Wh 1,200 64 6 614 Croft Brwng 300 1 374. 171 7s Crown CIntl A 400 8 8. teusi 2,200 214 2 2' tDerby Oil 100 "A Dictograph 600 6 6 6 Distilled Liqu 100 15 1 51i. 15 Dist Corp Scair 1.600 17 1.6 167s 1,4 tDoeh .0 Cast 100 12 12 121 3.3 Driver-Harris.

$00 1 81.2 38 1 8 Do pfd 10 91 I)- 94 1 Duval Tex 1.00 9 9 East Gas F. 100 4 1 4 East 6pld 50 4 507i Edis Br St 100 254.4 25 25 El Bond Sh 3,000 6 fili Do pfd 1,600 40 El Pow As A. 200 311. El 2c1 pA 00 4 4 4 tEou Corp 700 tEx-cel 1,000 64.i. 6 634 tFairchild A 200 8 tFalstaff Brew 100 3 3 tFanny Far 200 9 8 ft 1 Fidelio Brew 3 00 Fisk Rub 100 94 9 Flintkote A 200 33 13 Fla ofil 250 1271 Ford Can A 1,300 30N, 30 Ford Mot Ltd.

2,500 8 8 8 200 3 51,1 1 15 tGarlock Pkg. 100 26 26 ::6 Gen Invest 300 Vs Do war 200 Gen Pub pfl 120 29 28 Gen Dub 25 63V, (.1373 0312 Do nid 3 00 95 94 kl -1- Geo Pow Nil 25 5il 5011 50-i- 173 Glen Alden 8110 20 1Globe Under. 100 7 7 Gold Elec. 3 (0 Goldfield Con. 700 is is is fly 128 128 Do lvt pfd 80 127 125 127 Gt Nur Pap 150 247; 24 2174 '4 Greybotim 00 27! 1 Gulf Oil Pa 100 5Sti, 58,1 tHarlman Tot) 200 I 1 11-4 tHecia Min 400 '77; Heyden Chem 100 :17 37 37 1 flfir Walker 1,000 29 28 29 Do plit 100 17'4.

1714 17 Holly Sugar 50 3034 3034 3034 Honing Cold 700 1 8 180,1 Horn Hard 100 2134 2134 2134 Do Nil 1,0 103 103 103 tiludg It 100 12 i 12 Humble Oil ion 407i. 4971 i'lluyler's Del. 100 1 1 1 1- Sylv 300 27Vs 11; Ill of 100 1 imp 011 Can 3.500 3.67.i, 16 1.6 Do reg 300 16 16. 3 634 Dim Tb Brit 100 35 35 Ind old 25 57 5774 Bit Cig Mch 400 32 32 321,:3 2 1 Int Hyd-El of 50 7 7713 77S tint Mining. 400 1414 14'4 's3 Do war 1,200 B7S 674 7', Int Pet 1,100 30 30 301I Int Util 300 1,1 1,1.

tInterS Hos 200 27 27 2713 Int Pw Del of 110 8 8 8 hal Sp deb rt 10(1 Jones MI 3( 29 '9 'Kings)) Brew "00 27,4 73 Kirby Pet 100 2 2 tKlein F. 3 00 1 ti 10 3 ti 1 Lake Sh noo 52 51, 5 Leh 100 7 7 tLerner Sirs 301) 42 4 I 4. 1 Liii 600 714 7ii, 7a4 Long' is 00 2N, 2 onis fi00 4 4 100 13 13 13 ell St El 200 NI .6 Cetrit l'i 3.00 4 4 4- 1S Riv Mch 100 34 14 1 N. lillds pfd 10 20 26 26 12 Ities Service. 2.800 l'S 111 1 Do pfd 200 12 11 12 Do pfd.

100 112 Fig 112- la Cleve Tract. 1.000 8 C0109 Oil 500 I 7, Is iii olum 100 59 59 59 -71. otrtwIth Edis 100 5 :3 20t) 12 12 Compo Sh 100 14 14 14 12 Cons Aire 100 912 tins Cop Mi 4,300 1 112 912 912- 1,3 Bal 400 4 54 54 3,8 5 Cons Ret Sirs 300 212 212 212 12 Cooper Bess. 200 4 412 412- 3:, Corp loo 3 200 :212 211 21:1. tDo pfd A.

100 26 26 26- 12 Cosden011 Me 100 'rano Co f200 9 94 93'8- teole Pet 100 121.I 1212 1211 12 Wh 1,200 612 6 614 3,,,,, 'Croft Brwng 300 1 3 IA 1 3s rown CIntl A 400 81,1 812. 811 Cusi Ilex 2,200 212 2 '2' Derby Oil 100 3, tictograph 600 6 612 )istinett Ligu 100 154 3 tist Corp Seat-. 1,600 17 1613 164- 'Doeh .01 Cast 100 1213 1212- "8 Driver -Harris. 3()0 1 8,,13 38 1812 12 Do pfd 10 91 111 91 1 )uval Tex 1.00 9 9 Gas 100 4 1 4 last 6pld 50 501,4 49 564 'ldift Br St 100 "5 25 35'-i- 12 a Eond Sh 3,000 6 612 1:3 Do pfd 1,6110 40 387i; 1.,, Pow As A 2(1) 3 3 :3 1.1 D. 2c1 pA 3 00 412 4 4 Pou Corp 700 1 31 4, 1 Ex eel 1,000 tizt.i.

tot, 3,, Fairchild A. 200 812 8 812 3 Falsta I Brew 100 I 3 .3 Panny Far 0 20 9 9 ,4 Fidelio Brew 100 44 i'lsk Rub 100 9 94 la lintkote A "Ott 3 3 13 qa. 7 pfd '50 1212 1 1212 i'ord Nil Can A 1,300 30N, 30 30 'ord Mot Ltd. 2,500 8 1,,,,, 1' 200 3 512 1 51. 4 1 'Garlock Pkg.

100 :.:6 o6 25 Invest 300 2 Do war non 11, 17,, 1, len Pub old 120 29 '8 29 3en Pub 03 6:113 63,.,1 Do pfd 100 94 leo Pow pfd. 25 56:14 5611 56 lc, Ilen Alden 800 "0- 1Globe Under 300 71i 711, 712- 12 )Gold Elec. 3 00 3, 3 4 loldfield Con. 70o is 1,,.,, nv 128 128 Do 1st 80 127 125 127 312 7'4 Nur Pap 150 24,1 241i- 1t reyhotinti 300 22 21 22 11, luif Oil Pa 100 5812 5812 5811 )11artman Tot) 200 1 114 C. fliecla 400 7 712 712 14 Eleyden Chem.

100 37 37 37 1 fllir Walker 1,000 2912 2912- id, Do plit 100 1712. 1712 1711 dolly Sugar )() 3014 30 30N4 Efolling Cold 700 184 l't ft-)r Bard 100 1 21 0 1 Do pfd 1,0 103 103 103 1.11u(I,, 11 1.00 1,2 1.,, jumble Oil 100 40-fi. 46,4 3,, flluyler's Del 100 1 1 1 -1- 3 Ilygratie Syiv 100 20:2 2171 281.4 11,2 II l5t1 pf 100 163i. 1 1 011 Can 3.500 1.67,i, 161A4 1,,, Do re; 300 I 6,4 li rm9 Th loo 35 35 35 12 Ind tad 25 57i.2i Lit Cig 400 321; 3212 321:3 2 int Ityd-El pi 50 71,4 174', '71- tint 400 14'-'4 1414 Do war 1,200 6,, 61,4 6V1 Int Pet 1,100 30,,,,, 3012 3012- 13 Int Util J. 300 :1 1 ,1 14 Inter8 'JOS 200 27 27l34- ilt, 8 81 Int Pw Del pf 110 814', ,4 1,:, Ital Sp deb rt 100 Jones I St' 30 '29 29 '29 'Kings Brew 200 21-if 'A Kirby ket 100 2 2 tEloin 3 00 1 6 16 3 6 4- 1 Lake Sh .74...

500 57:, 51 7, Leh 7 7 100 7 'Lerner 300 42 4 112 42 12 Lib COO 71; 71,:, 7 Dow; Is 2o0 'N, 21 onis 900 47 47i, 1,, Liquidation In Corn. The principal development was the liquidation that came into the corn pit late in the day. It not only brought about the fairly sharp recession in corn prices, but unsettled other The source of the selling in corn was apparently holders who had bought on the theory that the cold weather prevailing over the grain belt would bring a better demand for corn. Corn prices, however, have drooped despite the weather conditions, counter to the usual trend. The demand for cash corn has been below expectations, although 100,000 bushels were sold yesterday for shipment out of this market.

The fact that market supplies of corn are steadily diminishing appears to be ineffective. Receipts of corn in the country's primary markets yesterday aggregated 183,000 bushels, as compared with the 486,000 bushels received on the corresponding day of last year. Prices Higher Abroad. Wheat prices in foreign markets were higher and this helped induce moderate upturns in the early trading here. The effect soon wore off.

Closing prices on the May futures in Chicago were: Yesterday. Tuesday. Wk. ago. Wheat 5 .97 5 3 corn .84,74 86,,4 Oats 511, Rye .67 .681,4 Explanation of the current lack of speculative operations in the market is not difficult to find.

In the background of the market action are two overshadowing influences which temporarily seem to have paralyzed speculative initiative. One is the domestie monetary situation. The other is the future Canadian wheat policy. The air is full of rumors as to what measures Canada is likely to take to pare down her surplus. No sooner is one story spiked that another one blossoms.

While the 1 rumors may lack truth they are indicative of the growing apprehension, and the widespread belief that an im FRANCE NEEDS HUGE LOAN FOR RECOVERY PLAN PARIS, Jan. 23(119)--France must borrow approximately 21,000,000,000 francs about 81,326,000,000 in 1935 to balance its budget and prime its economic pump, Louis Germain-Martin, finance minister, told the finance committee of the chamber of deputies today. The money so raised would be ill addition to the budget income, estimated at 48,931,000,000 francs about 83,101,406,000. Although the budget for the year theoretically shows a deficit of only 825,000,000 francs about $54,450,000, Germain-Martin said he estimated the deficit actually would reach between two and three billion francs approximately 8132,000,000 to $198,000,000. Germain-Martin said he could provide the money required if the political situation was undisturbed, but would be unable to float long term loans until W011(1 currencies are stabilized.

The committee, after hearing the finance minister's report, voted its approval of the government's proposal to increase the limit on bond issues from ten to fifteen billion francs. The increase. in the authorized bonded indebtedness of the country is part of Premier Pierre-Etienne Plandin's program for credit expansion through a new policy of discounting treasury bonds by the lank of France. iii-i; -i-5 4-r" il PubsoR la os'olu Inc2 98.8 10 (i0 414s 49 15 1512 1514 5s '57 99 9812 99)3 Ii2 1 As TCo 5 A.3.0031 5 PuSvSub512.s'49A 85 85 85 3 65 3,4 103 417 64: 67 --i- 212 7 do 512s el 41 15 3 5 15-1- ''''R 4,2 do 5s '50 6412 61 312 4 do 512a 44 01- 15 15 15 I 41' 'r 61 59 61 212 32' '0-5A 6812 67 (17 16 Baldw 6s'38ww so 7712 1.4 :1: i tn (t)- 1 srs 0: 180 v3 1(8r8 vi 180. 13 do Gs 38 NAir 6 71.1 67 67 14 1 Rep Gas 6t3'45 A 454 4512 1 'Bell 0 6s 11211 11212 li 19 do 6 12 8 45 A cod 45 4512 4512' 15 do 5s '57 11312 11314 113 1 10314 10312- 12 'do 69 '60 113 113 113 '7 StL Os'47 812 812 812 56 Birm El 412s'68 75 '7512 1 2 10712 10714 4 Can NRE 10112 10112- 14 34 SanAntPS 5s'58B 96 95 95111 t.

6 Can Pac 63 111 12 1.2 10012 12 3 tCap Ad 58'53A 93 93 03 12 1 SchulteRE 6335x 11 11 11 ,3 Caro 5s '56 90 8912 90 1.7.i 24 Scripps 512s'43. 9914. 99 9934- -12 3 Cedar 111 111 7 Seattle Lt '49. 3112 31 31 21 5s'60 91 90 91 7.3 1 SerN-Pi Inc 1 9 Cen111 PS 5s'56E 83 8111 83 2 3 4128'67A 97 97 97 14 15 do 5s '68 81 8112 817.H- a do 412s '70 9712 96 9712 li. 41 do 412m '67 7612 74 74 112 3 do 5s '70 10312 10312 0 Cen Me 98 98 98 4 10612 10612- 12 lido 5s '55 10312 10210311 1.

57 SE 632025A 78 76 78 2 Cen 5s '56 7012 6912 7012 111 33 SouCar Pw 5s'57 7812 77 7812 20 Cen Pow 53'57D 65 ti2 6412 11,3 12 So Cal Ed 1061.A 10 Con StEl 53'51 31 30 30- ai 1 do 5s .10612 10612 10612- 112 16 do 59 148 31 3012 3012- 312 3, So Cal Gas 302 102 31 CenSt 12 lis'53 52 4912 5:1 2 5 do 412s 100,1 77 Chi 412s '70 96 9612 0611 10 99 1111 993)1 12 31 Chi 612s '42 111112 05 914 4 5 SoGas 102 102 1 hi BY cod 7012 7012 7012- 4 So Ind Ry 48'51 47 4612 4614 'Cities Se 53 '60 3912 3912 3912 1 SouthnNaG tis'41 8:112 1.3 56 do 59 50 39 )it 38 38- 12 2 SowstATel 6s'61A 66 66 66 2 14 Cit Gas 67 6712 6712 S. 35 Swst 5s'57A 9712 116 1-1 8 Cit SG Pipe 6s'43 84 8512 2 do 5s '57 12.... 97 97 07 7 (it 512s'49 351A1 3512 10 53'57A 841,3 81442 31 Cit 51,...3 '52 35 44:4. 341- 1 SowstNatG Os'45 65 tt5 65 3 Clcv EDI 53 104,12 10112 is 1:2 SowsPubS 6s'451 86 85 88 3 1 Comw Ed 111 111 3,4 1 StaleY 1i 104- 1 do 5a 54 ....11112 11112 11112 3 9 Stand 63'35 58 54'4 56)3 212 4 do 412s '50 107 108 3 0 do tis '35 58 54. 57 2 15 do 412s '57 1071; 107-k im 15 do tts '51 35 35 357A 1,:3 107 do 4s Si.

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91 91 91 I do 55 08 s5 $5 do 61:25 '36 10512 1051' 19-i1 1 5 11(113 Rilt 1'58'11-100 100 100 3 Gt1061-1' 5s '351013 1113 302 'A I I- I'mk 5s '47 91.1 97 1 Gulf01111a 5s 107 107 2 do 55 '87 105 1 105 1051.1 -i; 1 FOREIGN. uorp 41 .03 0 a 10 Saud 5s '55 A .110 109 110 Wallace Silent on Action. Washington, D. Jan. Secretary Wallace declined comment today on the suspension from the New York Sugar and Coffee exchange of D.

W. Dyer Co. Other prominent officials said they were not concerned over the suspension of the short traders who were caught in the squeeze. The only phase of the question they are interested in, they added, was the effect of the market rigging on present sugar prices. ABOUT 1,400 LAMBS FREEZE TO DEATH IN RAILWAY CARS PACKERS AIDED MEAT PRICE RISE, CATTLE STEADY, HOGS AND LAMBS SHARPLY LOWER T.

WILSON SAYSI portant change in policy is imminenti. May Change World Price. Oklahoma City, Jan. 23. The significance of such a change Special.Thomas E.

Wilson, chair- can hardly be overestimated as a rnan of Wilson today gave sible influence on wheat prices in the part of the credit for 1iigh2r meat United States and elsewhere. A whole-prices to the packing industry in an sale readjustment or world prices address delivered before the chamber might easily ensue. of commerce here. While the recent cold weather has The increase in the price of eat- failed to bring about an upturn iii tie." he said, has been possible be- corn prices it has benefited the prices cause the consumers of meat apparent- of the late, deliveries of wheat. The ly have been willing and able to pay price spread between the May and higher prices for the available supply July wheat futures has narrowed of beef than they paid last year.

and slightly and now stands at cents because the packing industry did an a bushel. The July future is a new efficient job of merchandising the pro- crop delivery and the price is deterducers' product." mined largely by the prospects for the He pointed out that more beef was new winter wheat crop. consumed in the United States during 1934 than in any one year before. GENERAL MOTORS Drouth and government control, he said, have considerably cut down the OFFICERS AGENTS supply of live stock and meat. May Change World Price.

The significance of such a change can hardly be overestimated as a possible influence on wheat prices in the United States and elsewhere. A wholesale readjustment or world prices might easily ensue. While the recent cold weather has failed to bring about an upturn in. corn prices it has benefited the prices of the late deliveries of wheat. The price spread between the May and.

July wheat futures has narrowed slightly and now stands at cents a bushel. The July future is a new crop delivery and the price is determined largely by the prospects for the new winter wheat crop. 1934 than in any one year before. GENERAL MOTORS Drouth and government control, he said, have considerably cut down the OFFICERS AGENTS supply of live stock and meat. 1 St.

Louis, Jan. 23.Speciala--- Approximately 1,400 lambs were frozen to death while in transit zi cattle I cars from Longview, to St. 71Louis. The lambs were found when the consignment arrived here yesterday. The dead lambs were part of a shipment of 3,000 to 3,500 animals.

Some of the lambs which perished were frozen solid on their feet and had to he pried loose with crowbars, it was said. The animals were transported in open cars in accordance with federal regulations, and as a result had little protection from the frigid weather. An inquiry has been started by the Missouri-Kansas-Texas lines to deter-I- mine if the cars were properly bedded. It was stated that some of the ani mals were shorn recently. The railO road said that the animals were properly fed and eared for along the route.

YOUNG DESCRIBES BUSINESS' ART IN HELPING CITY The part which business interests played in helping the economic recovery of the city during 1934 was recounted yesterday by George W. Young, vice president of Marshall Field when he was reinstalled president of the Chicago Association of Commerce. All other officers of the association, reilected with Mr. Young, were reinstalled at a luncheon meeting at the Hotel La Salle. Among the outstanding accomplishments of the association during the year, Mr.

Young said, were entertainment of 812 conventions in Chicago with an estimated attendance of 5:14,145 and the bringing' of about $26,757,250 of new money to the Chicago market; conducting of seven market events which attracted 23,000 out of town buyers and merchants; securing of improved freight service. Mr. Young said that the efforts of the association during the year will be concentrated on increasing the city's business. In this every effort will be made to attract visitors through conventions and trade shows. 5 7' t- Irregularity marked live stock trading yesterday.

Best grades of steers and some top corn fed butcher stock maintained their high position, but hogs and lambs declined sharply. Extremely cold weather stimulated de-. mand for meats, resulting in the best clearance for a midweek session in sonie time. Atany grades rallied frotn early lows and erased about half the full decline. This was particularly true of hogs, which opened 15 to 25 cents lower and closed about 10 cents over the opening quotations.

All big local houses were aggressive buyers. Armour, Swift, and Wilson handled a combined total of 16,000 hogs, about 1-)5 per cent of fresh receipts for the day. Top grade hogs sank to $10.15, processing- tax included, while the average dropped to $10, equaling the lowest sipue last Wednesday. The hog price continued to narrow, with 200 to 01.0 pound averages selling at a 10 cent tii big packers were active in cattle also. but showed a marked preference Coe the smaller number of well tnis111 steers.

Swift paid $13, the tep for medium weight steers, equaling the previous high mark. This price has not been exceeded since January. 1931. An effort to equalize values in the cattle department was in evidence as the price range for steers reached -the widest point in four years. Beef Fleet's sold within a range of to 3, compared with a range of $3.50 to $7.35 a year ago and $3.50 to $7.25 two years ago.

Lambs sank 25 cents at the opening yesterday, but came back later and recovered about half of the loss. City butchers paid as high as $9.25, while packers and shippers paid $9.10. PENNSYLVANIA ROAD DECLARES 50 CENT DIVIDEND PENA'SYLVANIA ROADDECLARES CENT DIVIDEND a a do 5s 70 70 70 Ind 5 4 6 107 107N 31eWill Dredg. 150 25 25 11 2 lin Illd 5123 '11- 40 40 40 tMead John 100 60 5 '5 nsTi 28,4 l'011ieirtily listed on application of the cor- tMnek 1 tMieh 100 2 21 A 3712 Mid Tit pfd 100 poration. 00 13 121A-1- 84 N4 84 1 sem-Hie ar admitted to dealing as Cri Ind nus, fMolybd vte 900 8 8 8-f- '8 1- i Other unlisted on application of 4 int Salt 5s '441 ion 10(ln regular MOM Montg Wrst A 120 in3 121 133 2 ber and approval by the listing committee 1, 11 Int Am 74 733( 74 fMdy- In pt pf 25 23 22 20 ,,,4 1 421 and the board of governors.

4 in Pw ng )2 413.i '4- 8' Murphy Co 300 76 76 76 4 '3 XDEx dividend. EXFirst sale since ex tat Bellas 2,400 21A, 3, 69 do 51 .,7 6 t73 64 21:4 dividend date or dates. yrEnder rule. 8 Int 59'5 Nat Dairy Did 175107 1047 105 9 6 D. 62 ,2 1 ,2 arants 37 do Ts -i, wvvvitrt warant s.

xwWithout w. Nat Fuel 300 13 lltrits-1- '1; '2 5, -1. inmr A no, tD 1 Inv Co ris'47Aww 91 Philadelphia, Jan. its record of having paid a cash return to stockholders in every year since 1847, the Pennsylvania railroad today declared a dividend of 50c a share, payable on March 15 10 stock of record on Feb. 15.

The dividend will be charged to 1924 in Philadelphia, Jan. its record of hay. ing paid a cash return to stockholders in every year since 1847, the Pennsyl- vania railroad today declared a divi- (lend of 50c a share, payable on March 15 to stock of record on Feb. 15. The will be charged to 1924 in- Hudson Motor Car's 1934 Shipments Increase 109.4 Shipments of the Hudson Motor Car company in the year ended Dec.

21 amounted to 85,835 cars, including ilmisons and Terraplanes, the company announced yesterday. This is an increase of 109.4 per cent over the 40,982 cars shipped last year and the highest for any year since 1920. CONFERRING HERE Alfred P. Sloan president of the General Motors corporation, and a number of high officials of the auto50 mobile concern arrived in Chicago from New York yesterday to confer with middle western sales fives. 'The executives will meet today with dealers from the Pacific coast at the Stevens hotel.

It was stated that the sessions are being held for the purpose of getting the viewpoints of the dealers regard-dividend ing the company's policies and pro-come. The company in September grams. we are here to learn and not paid a dividend of 50 cents out of to talk," one of the executives earnings. plained. It was estimated in financial quarters that the road's net income for Detroit Bank Depositors 1934 would exceed $18,750,000, or about $1.40 a share, compared with to Get Final 17 Millions 169, or $1.46 a share in 1933, and Washington, D.

Jan. $1.03 a share in 1332. The company final payment of $17,708,000 to deposiwill benefit from the action of the tors of the Guardian National Dank Norfolk and Western in declaring an extra dividend of 2 a share in addi- of Commerce of Detroit, amounting to tion to the regular quarterly dividend 19 per cent, was approved today by of $2. the controler of the currency. The Detroit Bank Depositors to Get Final 17 Millions Washington, D.

Jan. 23.MA final payment of $17,7089000 to depositors of the Guardian National Dank of Commerce of Detroit, amounting to 19 per cent, was approved today by the controler of the currency. The BANK STOCKS Cli I CM; O. Rule Bond Trades Must Be Marked 'Long' or 'Short' New York, Jan. New York Stock committee on bonds today notified members that all selling orders in bonds hereafter must be clearly marked long" or short." Did.

Asked. Amer Nail tank Trust Co 115 130 Central Republic Co 3 3114 Chicago Title Trust Co 6714 6914 City National bank 85 95 Conti Illinois National 46 47 Conti Illinois Co. C. B. I 46e 50e Barris Trust Savings bank 100 200 Mercantile Trust Savings bank.

45 55 Merchandise Bank Trust Co 43 53 Nalional Boulevard bank 100 National Builders bank 12 20 Northern Trust Co 400 405 Personal Loan Savirws bank 93 100 Terminal National bank 514 7 NEW YOUR. Vermont Chain Store Sales Tax Is Declared Illegal Montpelier, Jan. sales tax on chain stores was today declared illegal in a decision rendered by Chancellor Sturtevant. The verdict perpetually enjoins the state from enforcing or attempting to enforce the provisions of the act adopted in 1933. The tax was a graduated tax on gross sales.

amount will go to the institution's large depositors. Creditors having claims of $1,000 or less already have been paid in full. MUNICIPAL BOND NOTES lid. Ask. PoAon 2434 loirA Na ti 1625 Guaran :311 :316 Irving 113 Manufac Tr.2214.

Nall City-21 2:311 103 Public .....30 32 Title 512 1665 Bid. nk :23 Bankers Tr.58 Fiyn 117 Chase Nat ChemBlacTr.37 39V2 Commereia1 .131 140 Cora ElSEIr.11,4 13 CornEx likT.45 40 Empire 18 Filth 1010 BUTTER FUTURES RISE AGAIN TO NEW HIGH RECORDS FOR SEASON MONEY AND EXCHANGE Money rates are quoted by Chicago banks as follows: Customers' commercial loans. 4(4514; collateral loans. brokers' loans. 20j3 7'0; commercial paper.

1k2 bankers' acceptances nominal, 30-90 days, 120 days, 150-ISO days, NEW Yortx MONEY MARKET. NEW YORK, Jan. money eteadY: irk all day. Time loans, steady; 60 days-6 mos. prime commercial Palter.

bankers' acceptances. unchanged. Rediscount rate. N. Y.

reserve bank, Bar silver, steady, unchanged at 541k. FOREIGN MONEY MARKET. LONDON, Jan. V2. Discount rates, short and three months bills, Bar gold advanced IA penny, to 142s IIAd.

I U. S. equivalent, NI14.701. Bar silver. steady; unchanged at 2454d.

U. S. equivalent 54.16c. Ford to Reopen Cincinnati Assembly Plant March Dearborn, Jan. 23.Specia1.1 The Ford Motor company announced today assembly operations will be resumed at the Cincinnati branch on.

March I. The plant, closed in 19,1 will be the fifth Ford assembly branch to resume operations this year. Present plans call for production for thq first few weeks of 150 cars a day. Between 300 and 400 former Ford workmen will be i 1 SUGAR The sale of $60,000,000 in short term notes of the state of New York was announced yesterday by Controler Tremaine. Of this sum.

$20,000,000 will mature in five months and 000,000 in eight months. The controler fixed the interest rate of of 1 per cent for the shorter maturities and of 1 per cent on the longer. Although there had been no previous formal announcement of budgetary financing at this time, Tremaine said that he had received bids for several times the amount of the issue and decided to make the allotments without a formal invitation for subscriptions. The entire issue will be dated Jan. 28.

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200 221,42 221,1 2114- 1,4 1.3 do 512s '55 711 74 754- 244t Ohio Oil 300 1.16 9034 4.1 11 do 5s '69 1 70 68 70 1,,:2 tPac Eastern 3.100 244 2 4f. 2 20 tio os '61 1-3 70 6814 7044 2 1st pfd 10i1 1 "14-ii 2144, 1 Kimb-CI 5s43 A 103 103 103 IA tPan-Am Air. 300 40 40 4O2. 34 3 En 54gs50 104 10378 1037 Parke Davis 100 34 31 34 I. 4 do 5s '47 102 10:2 1 Park Rust-Pr 400 61 60 01112- 20 Kresge ris 101 102 Pennroad 2 17; 2 34 5 do 5F1 '45 1014g 102 Pepperell 40 81 83 S3 -1 1 Lac 512s 70 70 70 1.1 Whoenlit Soc 300 1.71 1 ,1 1.i 42 Leh PS 6s2026A 95 94 044- 'A Pic Bak ir vtg 200 9 9 )4 al Lex Utii 5s tiO 80 MO 1 Pierce Gayer 100 2 1,2 2 2, 10 100 100 41 trioncer Gold.

100 101 10 3 1 08 108 Pitney-Bows 900 6 57- 14 .23 do 5s 911 .106 105 1.06 Pitts 111 GI 4 51) 57 66 57 4. iii 80 Lou 58'57- 91 91 111 4:2 Premier Glii 300 34; 1 114- )4 11 Man 58'51 A 112 63 1 tProp Real vte '70 14:1 19 131,1 ti 21 Mass 99 11941 9 PogSdP 5 pfil '220 171,1 16 17 1 3 do 5s '55 93 93432 1434ir4- Do 6 rid 140 11 1041 11 3 12 Meru 5s '18 94 93 94 1 Pure Oil 30 40 1331.1 40 7 Met Ed 4s '71 04 94 9414 TA Quaker Oats 10 127 127 127 244 2 11 do 5m '62 102 102 102 'A 25 7143 71,4 714 1,4 3 Midld Vat 58 '43 67 67 67 In A 500 3A 1 Mid Ut 58'32 Of 5 5 5 tlicliable Stria 800 8 718 Fl 1,44 1 do 5s 115 etf 544, 5 :14 Reybarn Inc 200 2 41 211 2 18 Minn GLt 48'50 08 118 98 Reynolds Inv. 200 1 1 29 4s '78. 86 8541 86 2 1 tRusseksP Av 100 5 541 514 3 do 59 '55 96 115 967A 2 St Regis Paper 200 1 1 1 5 MissRP 6s'4 4 99 99 99 Salt Cr prod. 100 6 6 6 :17 '77 14 77 2 1 Scoviii 311g 100 21412 2 21 1 21 Miss l'w 71 611 714g 4 Seiberling Rtib 100 214i 2 5 Miss 1117-14-1- 1 tSeletted lini 1,700 1 1 10 No 10311,104 1 1 tDo taletf I 950 54 53 54 4- 141 11Mo 58 51112 50 511A 41 sShawin 100 69 fi 9 09 19 Mon WI) 58'53 91 8944 91 1 Sherwin-Wins.

100 88 88 .12 5 58'51 A.108 107 107 tSmith A 0.. 1,000 4544 4444 45 1 2 Narrag 5s '5711)5105 105 -4 Sonotone 100 1 1 I 34 6s2026A 77 75 77 So Am PI 1,600 4 41g 441 46 do 5s 2030 (16 6541; 65 So Penn Oil. 500 2313 23 231S 41, 8 Nat 58'7801 6 6 6 1:4 So 0 Ed pf 500 19 18 18 44 8 Neb Pw 6sA2022.104 104 104444- 41 Stand S. 100 3 30 :30 12 37 Nev Cal 53'50 77 74 76 1 St Oil 4.700 21 20 21 1 18 NEng 58'50 5'241 51 5211 St Oil Neb 100 9 9 9 2 do 59 '48 52 52 51 St Oil Ohio 300 15 15 1514 1 4 do 5s '47 52 51 52 tStarrett phi. 200 1 1 1 44, 211 En Pw 59 58 514 :48 Stetson 75 1374 1374; 13- 17 do 53 '48 56 55 56 iStutz Mo Am 100 2 2 2 41 :21 NOr1 I'S 68'19A 4041 as 40 -4.

3 tSunray 1011 1 1 1 132 do 4128 '35 60 59 60 112 t81171sI1ine Mg. 2,300 117,.. 11 11 482001 1.01 101 101 1 Swift Co XD 700 17 17 1.7Ti 1,1 1 48'35 102 102 102 Swift int :300 31 31 31'31 127 NY 444s'67 9578 944 9544 144 Tampa El 100 25 25 25 1 44 4it'80 88 88 88 Tastyeast A 100 5 NAm 100100 Technicolor 100 11 11 11 36 do 58 '50 4712 46 4744 11s tTeck Hugh 2,400 4 34 3 8 NInd 68'52 101 100 10018- VA t'rezon 100 6 0 6- 14, No Ind l'S 58'69 81 81 84 27 Trans Air stpd 800 7 do 5s '66 84 82 81 2 Tubize 300 54; 5 51,4 1,1 7 do 412s '70 77 76 77 4- 13. Do A 500 1414 14 1412 6 104 104 iTung Sol Lp 900 5 5 5 5 NOh 102 101 1 Un Gas Can 400 541 5 5 10 NState 54428'40 92 0112 91 tUnit-Carr 100 11 141,1 11'4- 35 do '61 9512 94, 95, 4,2 tUnit Dry Dks 700 (i El 68'35 80 79, Unit Founders "011 1. Pow 68'60 33 33, 313 11 'GO etfs' :1274 3frA, lilted Far 400 1 1 1- 58 witsp 5g'57 76 76 7651- 14 Do phi 20(1 411 3974 40 4,2 Unit 2.700 11' 1 1 -8 Ogden Gas 58'45 9 119 9'Y 3 22 Ohio Edis 5s 100 8 14 Do ev old SOO 5 4 4- 32 Un Arolas Ltd 1,800 6 47As 5 30 OhioPw 105 1051 3 OhioPS 5 '01E 102 102 10'3 4 4 Unit Shoe 1'25 73 72 731- 1 8 ,1 8 do- 58 '51 11 1004g 1001 100 pfd.

100 50 50 50 27 Okla 6 8'40A 96 944'44 06- 1 -1- 1 4 Rad 50 16 16 16 42 do 58 '5i) 101- 100, 101141 111' Univ Cons Oil. 1.00 Z-if, 3 3 ri 10 Okla 5.8'48 J.24 55 56' 244 Util Pow a. 200 i 1 Oswego 68'11. 74 74 7414 1 0 I CHICAGO LIVE STOCK The followin figures on hog prices include per hundredweight collected by the federal government as processing tax. There no processing tax on cattle or Pheep.

The Price otAiatiits given below are per 100 pounds oi live animal: 110GS. Ittcipts, 29.000; sliinmentii. Good to choice, 9.5001,10,05 Good to choicc, 390(4210 I 0.00 rft 10.15 Good to choice, 10.00041015 Good to choice, 2.iiiikt,3!3 10.00410.15 Good to choice, 3506r Inn 9.83q10.00 Light packing sows, 2700:350 9.704 9.80 lIcavy packing sows. 350q550. 9.5tM 9.70 Pigs.

common to best 5.75612 9.25 CATTLE. Receipts, shipments, 3,500. Prime steers, 1,000671,1,500 '12 500:,13.00 Good to best. 7006,1,000 9.500:12.75 Poor to best, 6.00q12.75 Bulk or steers. 150Wft 1,500 8.000,12.75 Sows, choice to prime 7.25411 8,00 Cows, good to choice 5 750 7.25 Cows, lair to good 4.00ciu 5.75 common to fair 3.350) COO Canners, cutters.

com'n to good 1650j 3.25 Boles, yearling, gd. to choice 9.50411.00 bologna, common to best 3.750c 4.75 Stockers and feeder. 3.7544, 8.00 poor to best 4.00iiii1100 :100 government owned cattle toe the SHEEP AND LAMBS. Receipts, 14,0007 shipments. Nativc iambs, fair to best 8 8.7564 9.25 Native lambs, to fair.

S.0040 8.75 wi-st lima. good to choice 9.000: lanit: fair to 8.75fo; 0.00 to choice-. 4.50(,,t, 5.00 lleavY. lair to good 4.0tnio 4.50 EVUS. inferior to fair 3.0004 4.00 wetbers 4.500 8.50 Dinhs 2500.t 3.50 Feeding and shearing lambs 6.0004 8.00 COMPARATIVE PRICES.

liOGS-Dullt of sales yesterdaY, $9.850710.10 thw month ago 8.506-0 9.25 One year ago 4.2564 4.55 Top yesterday 810.15: average, $10.00. rATTLE-Bulk of Fates yeseci'yl, 8.00i02.75 One month atto 8.500.10.00 tine yea auo 4.75s4 6.50 Ttrl yestcrilay. .1800: average, $10.:15. IAMES-Bulk of bales lesterday, $8.0000.10 One month One year ago 8 25kt9.10 Top yebik.rday, $0.23: average. $8.55.

Bancorporation Larceny Case Placed in Jury's Hands Moorhead, Jan. case of J. Cameron Thomson, president of Northwest Bancorporation, charged with second degree larceny as an outgrowth of stock sales by 014 corporation, was placed in the hands of a Clay county district court jury today. Butter and egg prices continued to advance on the Chicago Mercantile exchange yesterday as the principal producing sections experienced cold weather. Butter futures sold at new high quotations for the season and closed 3.8 cents to 5.8 cents a pound higher.

January egg futures rose 1 cent a dozen, but other futures held steady. January butter futures rose to 321,:2 cents a pound, equaling the highest quotation for any storage butter delivery since March, 1931. Storage withdrawals of both butter and eggs were smaller, but receipts were light. Production is being curtailed by the cold. The Land Lakes reported butter production 24 per cent less than last year but 3 per cent above the preceding week.

Covering of short commitments was an important source of buying, brokers reported. Butter sales aggregated 202 cars, and 73 cars of eggs were sold. Four ears of butter were delivered. Prices follow: NEW YORK, 4 an. WaS firmer today and prices advanced '2 points to the basis of 2.82e Per lit for stlots There were confirmed sales of 38,700 bags of Philippines from store and 28,700 bags of Porto Rican for February shipment at this level to local refiners, and it was rumored that slightly more was paid by outport refiners.

The market closed 3 to 8 points higher in the old contract and 4 to 5 points higher in the new. Sales in the old were 15.250 tons, and in the new 104)50 tone. The maximum upturn Of 8 points was registered in the January delivery in the old contract and was due to belated covering as trading in that position Ceases tomorrow. Prices in cents per Prey. Open.

High. Low. Clo7c. close. Jan.

1.91 1.91 Lill 1.91 1.83 March 1.90 1.93 1.90 1.93 1.88 May 1 ft5 1.97 1.95 1.97 1.94 July 1 98 2.01 1.98 2.01 1.98 Sept. .2.03 2.00 2.03 2.00 2.03 Dec. 2.09 2.10 2.09 2.10 2.08 In refined a fair trade was reported and prices were unchanged at 4.30e per lb for fine granulated. NoteAbove raw sugar prices exclude Processing tax of il2e per lb. Refined sugar prices include the tax.

Fayette has arranged for the sale of $75.000 of 4 per cent bonds to II. C. Speer Son of Chicago at par and a $1,000 premium. The bonds will be retired in 15 years. Offerings is being made by Graham, Parsons and Goldman, Sachs of a new issue of $400,000 city of Kansas City, 2,31.

per cent improvement bonds, due 1937 to 1946. The bonds are priced to yield 1.50 to 2.80 per cent. PARIS. Jan. per cent rentes, 83 franc.

50 centimes; 447-; rentes, 92.60c. Exchange on London, The dollar was quoted at 15.21. FOREIGN EXCHANGE. Quotations are in American Jan.28. Jan.22.

Wk. ago. Yr. ago. London 488.871.4 487.75 500.00 Paris 6.59 6.57:4 41.56 6.261-:! Italy 8.54) 8.51 8.50 Belginm .23.2 23.28 23.23 22.25 32.29 32.22, 30.90 Holland .67.30 67.38 67.28 64.20 Denmark .21.84 21.82 21.78 22.37 Sweden 25.20 25.15 25.82 Norway ..24.57 24.55 24.50 25.17 Spain ....13.62 13.64 13.60 12.96 Germany .40.03 40.05 39.08 37.82 Austria 18.80 18.80 28.10 Poland 18.95 18.85 18.25 Greece .93 .93 .91 Rumania 1.00 1.01 1.01 .99 Jugo-Slav 2.27 2.27 2.27 2.22 Czechoslo 4.17 4.174j 4.19 4.77 Finland 2.17 2.17 2.17 2.26 Canada .100.00 100.034 100.03 99.25 Argentine 25.55 25.30 25.00 33.40 Brazil ...8.57 8.58 8.56 X.48 .43.95 43.90 43.45 37.63 Shanghai .35.60 35.45 35.05 34.00 Japan 28.50 28.43 30.00 India .36.95 36.95 36.90 38.00 Chile 5.00 5.00 5.00 9.90 Bulgaria 1.10 1.10 1.15 1.37 Singapore 67.45 57.45 57.50 59.00 Hungary 29.65 29.65 29.65 118.40 Mexico .27.85 27.85 27.85 28.00 Nominal.

Judge of, to Address Kiwanis Judge Tom D. McKeown, former congressman from Oklahoma, will speak before the Chicago Kiwanis club at a luncheon today in the Hamilton club. Judge McKeown is the originator of the reorganization act of the amended bankruptcy law known as 77-B BUTTER. GASOLINE AND OILS. GASOLINETax included, service stations: Red Crown, 10.0e per gal: ethyl, 18.tie: Stanolind, 15.0c.

No. 1. tank wagon, 1 to 99 gals, 11V4c per gal: 100 to 149 gals, 150 gals and over, 63c; No. 2, 1 to 149 gals, 7c; 150 gals and over, 6c; No. 3, 1 to 149 gals.

7e: 150 gals and over, Sc. KEROSENETank wagon, Sc gal. LINSEED OILRaw, 77c per gal; boiled, 80c per gal. TURPENTINE 68e Per gal. DENATURED ALCOHOL-38c per gal.

WRITE LEAD-100 lbs. f11.00 Award of a new issue of $200,000 Westchester county, N. unemployment work relief bonds, dated Feb. 1, 1935, and due serially 1936 to 1940, was made yesterday to the Manufacturers and Traders Trust company of Buffalo, and Adams, McEntee on a bid of 100.297 for the bonds as 2s. The issue is reoffered at prices to yield 1.50 to 2.75 per cent.

Prey. tor stand Open. High. Low. Close.

close. January 2 82 February .31 32 31 32 311 March 31 31 31 31 EGOS. Prey. Refg stand Open. High.

Low. Close close. January 26 264 26 26 23 October 23 23 23 23 23 Fresh granded trsts: February 22 22 22 22 22 MINNEAPOLIS FLOUR. 31 IN IN EAPOLTS. Jan.

23.WFLOUR Pricta were unchanged today. S'al pments were I bran was quoted at 7.50 alkti rnidd1in at k20.47Ms:;7.tni per Ion. SEALED PROPOSALS will ho onened by the, Supt. of Lighthouses. 37(0 E.

Jefiersott Detroit. 2 p. March 1. 1935. for the purchase from tho Stat of portion of the Eat-le Harlor Lizhtholizo Reservation.

Keweenaw Coon a pProximately 2.1 acres. Information uooa aoolication. I.