| Show THE SALT r Improvement in grocery trrra4 Reveals Steady 'Progress Since Upturn ' 7 C 15 CANADA KEEPS The Downward Trend or Interest Rates Markets at a Glance 1— -- 7 ercent PACE WITH 11S - (I a REVIVAL TREND 4 v Most Encouraging Feature Held Advance in Profits With Elimination of Price Slash Inc Nearly 70 Per Cent Under Code - SUN DAY MORNING MAY 13 1934 LA10E 17113UNE t x ‘ 6 ‘ Progress in the grocery tiae has been almost uninterrupted 5:5 during the first four months of the current year with distribution ranging 20 to 35 per cent better than for the same period of 1933 despite a drop of 5 to 10 per cent in sales in some districts during 6 April In'fact the recovery of the trade since the downtrend was checked last June has been almost continuous and it gained such strong lb momentum 'during the closing months of 1933 that the total reduc- tion in dollar volume for that year 41 was less than half that set down between 1932 and1931 Sales now are forging ahead at the most accel Both Nations Feel Parallel Business Upturns Pro grams Similar s ' '‘ - ' --'41'- ood " Ve er Cait 4 aml Ea's' North - fk 1 1' - Vs NEW YORK—Busineu trends in Canada conthme to tiarallel roughly those in the United States With the two countries subject to Virtually identical foreign exchange influences similar Internal Industrial forces and now roughly corresponding government measures their further recovery should be along petallel lines observes the Standard Stjtistics company of New York in a current survey of Canadian business IL ‘ - um sTocKs i V ' 00 irati sa 4 New Yoik ' '4 e ‘ 000 Vs" ' - - RN WEAK I Sib - - ' - UNDER SALES NEW YORIC - Stocks heavy: Industrials sag Bonds irregular secondary Je sues heavy Curb easy industrials decline Foreign exchanges ateady sterling firm Cotton lower favorable weather local and foreign selling Sugar quiet commission house Cal's 7 Smith and Wist cunt YIELDS liquidation Coffeequiet: foreign selling int CHICAGO Wheat lower some 41muth re lief Corn relatively steady offerings scarce Cattle nominally steady Hogs nominally steady quota- ble top $U& WHAT THE STOCK MARKET DID General Losses Prelall at Close of Small Board NEW YORK May 12 VP)--T- curb market yielded further ground t9dai under a brisk selling flurry In the second hour General losses of bac tions to a point or more prevailed at the close Some specialties broke sharply on small offerings The list was rather narrow &saint the first hour but trading which had been slow Increased substantially at lower prices appeared at the turn of that period Some recovery occusred near the end of the session Singer Manufacturing toppled 14 points on a nominal transfer Alumi- Sat Fri trends erated rate since 1929 with a de' — 158 66 num Company of 'America New 33 Uncertainties of course confront Advances cided revival in the demand for Jet 549 390 sty Zinc and Bunker Hill both nations but in each case the Declines nally-advertised and Sullti brand merchan168 127 van long-terGeneris Unchanged trend around 3 dropped upward each Declines dise and staples with the movement New York and 00 Washington of fractions to about a point were ally speaking there is little reason to of ruf fancy goods gaining from 74 2 714 tered by American Gas and issues Total a in believe that Canadian Investment 4 e week to week Blectrlos 3 w L L or r' Have Et is Walker secUrities to Hiram in Developments that Rumble preferable OA Swift Inp The most encouraging feature or United States Issues or vice versa S Solaro 4 Ansi:m114 Dowkirs 'footrest ternationa4 Lake Shore and Parke the current situation is the larger Davis Canadian feet Mart for Favorable on the Opportunities placemargin of profit made possible by ment of funds exist both above and ?rider! banit Transfers approximated the mark-u- p of 8 per cent over cost 14000 below the border ay It: debit801110302 shares compared with 124000 In retail grocery and 2 per cent in last nk cleanup Saturday Industrial Indices show Saturday production year wholesale food price' as the definite tune By IL P WEBBER 1006682 elesringcloamo00momoftmommo counthat the affected both depression g elimination of which Financial Editor Toronto Telegram SAW SUCIAS tries to approximately an equal ex- Same week last year 2412W TORS for years was One of the most basass- (Copyright 1934 by the North Amer The tent May11 woe drop from January 1920 to lean Newspaper Alliance Inc) While to sales weretune coiltoday evils with the which trade ing DILL DIIMORTII WALKER lg - tended-Ia- s ported the low point in February 1933 wet developed that late made the outtobk better local re yestday iner boutht 12000 587 per cent for Canada while the Associate Profeesor of Economics Uzdversity of Utah of Phille pines due tete letter 'part of bags than at any time in four years Net nest in distillery and gold mining this 283 decline 012 points iltill Onmonth at from its 1929 'The price we pay for the use of borrowed funds seems to be NORTH BALT LAKE Mai 12 (1111DA)— Unitedto States' decline income of some of the leading corn- stocks with minor recoveries in the Provmull sale the July 1932 low was 599 high - panies in 1933 showed a sizable teflectine tile lager tone In tho lattet group featured a abeavy Cana- working steadily toward a lower level Likewise the interest paid Cattle and Calves: Receipts were a little cent market Net these futures were 972 from week head as per lower gta with recovery than et vance over that of 1932 and if cur- dian market during thg past week on savings accounts thrift certificates and long term investments larger closing it 1 to '2 points netwith the ma es with 03 last week Prices were respective bottoms to declineta were February 1934 rent selling prices can be maintained The most important local influence appears to be on the decline Since 1920 interest rates charged compared steady to strong with some improvement the latest date for which an Canadian to Chanted 1 In of the best offerings The best point lower under liquidation profits are expected to be revealed continued to be the gold tax imposed customers for loan! by banks reporting to the federal reserve board beetquality and genius by trade Intonate steers consisted of a load of good 832- - figures are available has been 370 The Initial In most of the statements for the first by the Canadian government but the have decreased offerings were absorbed by Mules 33 per cent The decline has been Pound Mimi which cashed at $528 with approximately cent in Dominion 434 the Cuban and some connections and theL to tether vtiti at 1350g050 naedium and good per half of the current year according moat powerful factor swaying the even d in New York City having steers out ter in the larger cities-ba- nks covering visa eufficlent to and heifers in the drive-i- n 4 vision per cent in the United States gre the snarket steady during the to a survey of the grocery trade Canadian market was developments reduced terest charges as much as 45 per cent during the 15- - moved in odd lots within a 2of $3504-Improvement in the United States Int but offerings Increased nearearly Ind which has just been completed by in New York end Washington While comiumoomdonlookdin cdg rated rani 2:50500117265 and the market 'declined an abandonment of the following gold Oditisni stocks were weak bonds especially year perio Dun & Bradstreet Inc with point cutters' cows 8160026 and low cutters standard was so a panying chart is shown we session Mal prices st the rapid that by JulY the newsprint group showed consid-- theIn the ranged downward to 1100 bulls were sold Sales BUB Rising The rants toliowg1 of interest rates trend downwar for 1225 to 1265 and a few common and of lest year this countty had far strength -- -medium veal valves at $3006400 High Low Last custo banks in prin Canada in the process of re- Utah Products Swell Trade ally ''he steady additions to the amount erable 1 b CHICAGO Prices In the hog Market were Hogs: Canadian distilleries are particu- charged a wildly May 12 (AP)-- In 48n :d in the May fluctuating market The subsequent reaction of money in circulation owing to Cipal cities ag rose and fell time around 10 cents lower on the best kinds covery b0 that to sensitive in of Volume developments I lb ' All VII limits wheet today as compared with last week's late sales however brought the two countries of the Amer caBankers' Aso and again within the spread of employment and ris- larly aOS 1355 took the best drive-in- s on this week's the United States because the three issue 5alrar 111&m:rjtIrrieellorftionicT rates Journal ciation the are into line The with s fi'&:ghlt11r sales and mixed weights went at 83250 again ing wages are increasing consurnp powerful units in the Canadian disFebruary pro-14 '" Eti Vegetables eteetn gave victory at the last to traders 340 a few lots pf feeder pige were sold duction activity in each instance apH 147171na wm4 averages on tion Of groceries by an advancing tilling business are unthanaact it 4 111 or tine to the yearly average of monthly for 1250 and a few 5315 the at looking apmpaarrekentt bletittriegicipsroVoge to the fir!' federal 57 as A 1929 cent even aranulatad banks week of the rate from week to batter inquiry Pas ranortad proximately reported by per though United States for a profitable outlet was Packing sows brought $2256272 b—Bid n—NominaL reserve board The monthly aver- - general pronounced relief fromacuteshort- - Sheep: Receipts of sheep and lambs for peaks further improvement be dependent' for their wares N -de- -SAN FRANCISCO—The the week numbered 16367 head a against or winter in steady wring are based rates Long-terdisturb-in the Dominion on the settlement of labor ages upon reported tleotf regrowth last week's total of- 16725 The rail Dividend Postponed for three types of customers' loan- s- Announcement by Secretary of Agricul- - ceipt consisted of California springers on which is still relatively in the pioneer cline of United States exports of WESTERN LOAN AND BUILDING ances in Many districts Bather canned fruit and vegetables half that owing to breakup of the through billing Up to this date for the Following the repeal of the On- commercial loans demand and time world COMPANY ' season aabrupt rises have been experienced eastward movement of Cali- stage of economic expansion should billion dollar far western industry liviloliatreatiotAtredTilegill (71Tetaetactatleosl fornias the snore rapid than in this country1 totals 432 decks or 48421 head I in the demand for meats hams and tario temperance act Canadian dis-- loans on securities They are weight- to all Creditors Shareholder accordbeen hu checked' Other nations This is considerably larger than at the cor- Thus from with definitely vigorously to 1921 the stocks to ed soared relative to January1 with respect impor grdttompete dizzy heights January Investors and them intereeted dairrproduce during the last three tillery responding period a year Ago Local sales 1929 ing to an analysis of the latest availn the Arnericaii industrial produc able inonths with sales of sugar coffee' but under the influence of the de- tance of each of the three type' of today': tvgitiggli ralleillengeinnItteV:irdnoltitgieiri werr limited to trucked-ilight springers ' WESTERN LOAN AND BUILD the made of Bank 8875 factor at by figures of loans aboreach tion relative and 81 index advanced only the flour cereals pression overproduction importance canned foods soap IlltradiagejnicemiKing per cent ING COMPANY a corponktion of OGDEN May 12 (1:111DA)—Cattle and as against 1381per cent in Canada America Pacific coast branch bank 1 thgd vtili:calitanweclkitr at the calves: jams Jellies and preservu well to tive merger negotiations among the reporting bank and the relative itn iseriltgrn Utah in suspension and in the Receipts for the week totaled 817 institution ing outcome ots down in and The each to in fell of each low three units 101 head al against 733 last week No material Virtually parallel movements since group leading portance they city the fore in the list of bestmoving Provisions Waa unchanged to 10 cents up changes First evidence had possession of J A Malta as Bank that the tide took in but place there levels Then came Indications prices that the Hotel business is adding Lower Overhead Costs articles was 'a little improvement in quality of the present recovery program started been stemmed occurred Commissioner of the Slate of in the lut Volstead act was doomed and the United in the has States led the best Dominion kinds ' offered was LUITUMES too $515 the Lamle° 'Utah: substantially to the enlarged voltuni Canadian are Isreogpig half of 1933 When the volume of ex'Price paid for slaughter steers this Wag authorities to distillers with some 30-- 1 Borrowers of funds generally methods recovery study of wholesale business and buying on ta of n lot NOTICE IS HEREBY GIVEN: good trucked-iChills for all canned &verityand ports fruit vege 000000 gallons of spirits appeared to glad to see interest rates lower be- - mrhea- $ 81 a 88 89 I $ Jr ing 1030 This lot consisted of 35 instituted here and to plan new legisMat st petition hythe sa 87 by restaurants is reaching the best be In a very favorable position cause it means lower overhead costs Joie head of good Utah heifers sold lation based largely upon American tables after having fallen off stead ' poIds 81 88 foie' or As 884 in three for 1485 years Stock of the proportions bulk of good steers and signe& has been filed in the mat ily since 1929 rose to '104871985 which Investors on the other hand do not Sept company largest experience heifers in odd lots made a wholesalers of rang districts $42541 ter of the suspension and liquide From country 47 46 MI 414 the downward trend for it means may pounds from the 167208380 pounds 500 Common and medium kinds rated at had a drug on the market at 49 48 '4934 - ti°n of said company rile No are receiving a surprisingly large $250been 1300A400 with rough d It Jul' -- - '49nli exported for the last six months of a share jumped to $60 in July lower earnings on their savings offerings 60 51 Ili 60 Sept exmore thS downward to 52443- in the District 1250 ranging Mefor and orders of volume under 1932 too that they will have t0 oat- sCourt of 1933 and the directors laid the foun- means Convincing proof pointing to dium and good cows moved within a the Third Judicial District in and PAay of 12504000 with occuional young gorged definite 1 the pensive brands in the accumulate to' ordir more save 31 of is ill0 kinds recovery dation for In the the exports) biggest distillery 114I CHICAGO extra are May la showing retailers wholesalers and at 132591135 Cut- Ilst Both for Salt Lake County State of Silit ifil 3ii iii ter and commonquality world at Peoria EL This huge plant same estate that they could under a Sept of traneactiom In stocks on the Chi- - revealed in 'figures showing that fere cows made and c Utah in which petition said Bank inclined to restrict stocks to a mini- will soon ' low cutters ranged Ry- eign shipments of asparagus apricots Into production but it higher interest level $1501225 go lower and canned Bulls were on mum except Commissioner bas asked- - said weak to goods lower IlrOCK8 pears peaches and pineapples inhas caused thepostponement of divand ranged in price from 1200 to 2 85 ' Court for an order authorizing a few staples inventories of which idendi 'Ales lit h iv 101ooe creased more than 100-pMIA Medium to choice cent for vealers on common of 1400 the stock the end Av 600 IV and permitting the mid Bank Corn $00 and lower grades frombrought 14 wholesalers new are increasing This la ine7 down $350 various to the two and be lower 1934 months first over of ought parent company and the stock that Hogs: The on hogs was gen Boos Vittr4list missioner to relinquish to the said Vol 21 412 4 21c the tendency however is attributed to sold at 80 last July is now quoted 111 orally about themarket same as a week ago corresponding period in 1932 " 100 g 21 the analysis cept that s Night reduction was made on 8114438er! lack of ready capital rather than to around 30 company as now reorganized and points out The Pacific: drive-lo- s Edla ComwIth 260 III 'A top The best kinds on seswhollate authorizing the said companytto 4112 any fear of the future Many coast Hawaii and Utah account for a 812 IA sions made 1310 as compared with last Cord Corp 1600 Canadian distillery companies are they are now For example John Meer 4 e' :10 distriburesume business and poseemion of increased 820 Cut week's late top of 1355 The bulk of Crane Co July 8 450 sale houses have is almost theentire productiod'of these encountering more obstacles In prof- Maynard Keynes of England suggests Selltellie222 4'42 160 mixed drive-in- s rated at 0251040 There El Honiehold 200 124 11 1214 its usetsl tion facilities by the developments of itable participation In the United that leading financial countries commodities le very little demand for eL WWI 350 Lib & 5 6 414 hogs Uhl Wilt Wil I 0600 That said petition has been set 730 and kinds averaging tinder lightweight "cash and tarry" systems of which States market than was foreseen in should stabilize the price of capital ttaj! inContinued in 1934 improvement 100 cluding Pigs are hard to rfell175atpounds 785 do 785 700 40 -for hearing in the courtroom of pries Sam I p0 pfd A independent grocers avail the first flush of enthusiasm Cana- funds at a basic rate of approximate "u'' 4A the entire and 42 110 throughout Late sales of packing ova were anmade vegefruit at Brokers dian owners of Honorable Herbert M Schiller themselves advantageously CASH QUOTATIONS 1375 down with the bulk going 3160 164 41 table preserving industry of the far low 1215 Swill Ils Co " t for sale have ly 212 per cent spirits 2 400 Ewlft Int Sheep: 161 food Is a ro(211anio laKaa an lambs for Receipts of Judge at Salt Lake City Utah products and importers ot west is looked foe by producers and not bad the 150 the week totaled 57494sheep 25 position that The rate of interest however bead as compared Wolgroen on the 24th day of May 1034 at corn-r- eo tate sales to be making a good gain first appearedstrategic No white Ilil Rod: the 1000 I determined pillow 40450 alike 61115111weett price by it 33 competitive is and iynith ritoweek's ricelpii packers operations reported Opin 10:00 o'clock am of said 54 on—G(717111111mi over last year's at this time in spite in the United StateS plant sales Mack 51000 shares SaturdaY and ions are based Cana- supply of loanable funds in relation which in 3 Chile 344838 upon such factors as aid consisted of California spring lambs all persons interested or day funds to As of the irregularity Of exchange demand such s for The the clean-upto Reason's desiring now dian rye Interested are fllOvmeflI of Californias UP from the carryover companies BUSINESS FACTORS past to to the to be down 44082 this date shows a total of 1854 deft heard in said matter are re Retailers are settling NEW YORK May 12 to be affected by bootleg- Isavings continue year after year and norier seasons are bound or 211438 head advancing prices greater Local sales were made Peering during the past week indicated a quired by said Court to file their eew order-o- f the in- - EiTeoetrhyserded1 114711755o selrek things and now are ger competition Anthe truck division at prices which looked Icapital funds accumulate resulting from improved mixed business tendency according to demands objections on or before said date stead to strong 9612 loose lard 8542 is funds of creased Several More convinced that they cannot sit loanable truck index loadloads of car for supply leconomic Moody's figures freight conditions and foreign Seek Slash to appear at said time and place choice or for Duty must be "II' spring lambs changed ing Meetris power production and MAW but either 'bound to force the interest rate down 11814 ion the fencecode rates advantageous to exports One sizable lot Ingot output and make representations or ob - - that 10 Icourse the price of borrowed MINNEAPOLIS provisions as near-- 1 Suggestions at Washington or against WOO carried a 3 per at seaare springers: These inder for figUrea In Ousted both total valuation and volume 52 cent shrink's allowance to tune the way to combat bootleg competi- ftIntla will jections if any they may have to Common is if the change from and sonal variation--tha- t fluctuate from time to MiNNEAPOLIS May 12 ly 70 per cent of the trade medium trookedin spring lambs moved ' the Previous meek should coincide vilt4 the of output for 1933 the far west's the said Petition ' would be for legitimate distillers time with the demand for funds grrt L!treer ItenAlhritrikit within i soread O000(0825 A toning under codes Many of the tion package normal geason change the indel Usure huge preserving industry showed Dated the 10th day of MAY 1034 ' lambs cashed At neighbor- to cut prices and that the minimum which changes with the prospect for tans 8890901 amber durum tgaV:siZ1! of a be unchanged would small and $800 and lot of light shorn yearlings at $580 sharp increases over the preceding Car MAUI A few lots of hood stores are passing out and some age requirements for potable spirits profits in business or the fiscal needs 111418sre stipreglet351185 shOrn lambs Canned Losdinge Leo SteelComb year dried and frozen Bank Commissioner of the State tit 254050 andoldcrop be reduced would prove detrimental of government For example in 1920 Corn-- NO 8 yellow 446044 a truck load or two brought 774 of ewes Latest week 603 940 t of the larger chains have discontinitrii fruits and made fish in vegetables $3004310 packed week The cerof Previous 1090 to Utah 618 distilleries The Canadian in Charge of the West $°"171 the sug- interest rates were-higbecause the 2':143Nilia-rilte- ' ued unprofitable stores and in LOS ANGELES 594 1059 57 137 the far west reached a total valuation Month ago ern Loan and Building Com (AP) waitIDA)-- 11 Year 11450 522 948 322 598 of $376968000 in 1933 a Rye—No 286059 Hogs—Receipts tain cities are consolidating several gestion to reduce import duties is demand for credit was particularly for week12 of :r 1938 gain 837 Canadian 1091 781 668 pony high Stliteetia8792 point strong on the part of both business of the small branches into one large constructive from the forekte4e300:ea :: 1933 low 887 155 505 $106380000 over 1932 or an increase 451 ' L MULLINER "8 ttit stores apparent- of view Likewise in and the government 1934 highJ 608 1095 640 778 of 40 higher medium to rood cent I unit Indeeendeet volume Likewiselit per fight-ovCITY' for Bank Commissioner 1934 1001The 6 0 low 571 Canadian gold the speculative even with 504 the Attorney 419 saeeobe gegaear best rass holding more are g than 19281929 of steers ciTRyarsusaly period of output an increase of 9203920 ly 12 lAp) oihea- txmoms weekly average equals 100) 8 boa medium 85000500 good (1928 (Copyright 1934 by Moody's) their chain competitors aided by the tax has subsided The dividend pay- the demand for business credit was Receipts 22 earill 14c up to 1c lower fed'hel$600 cases was e hoWn over 1932 a gain --- mines bear the full burden of the especially bard 8308314c down cowl $212 03KasecroteataeeLatge and dark I 81088e bard wines ing of intersales light pushing pronounced package Mar' Ilk July' 78V4e: 86P- - flogoWLe1 11010i steady billk twitters $2150300: of 30 per cent top $335 few A general satisfactory con-- 25 per cent tax on gold levied on lest rates up in spite of a greatly in- - feftINV4Wgbeers several lots thin light lights 5250 down Di 1 sows $2500260 dition prevails in the retail branch the premium over $2067 an ounce creased supply of money and credit corn—Receipts 23 ears: Unchanged tO COMMOn to me week 780: steady: Packing 200 Compared With last tun) lMbs $7000713 good of the trade end prospects for sum- but are relieved of the corporation In view of our large gold stocks and 34(4:71oarrifirv assr41154e1923 7411V: ta ItEALT01111 Friday-Weisteers "15°' and medium weights quLted leptember 46se paying accumulated savings al1010000N6 45c mer are viewed as the most encourag- income tax Nondividend week to mostly 25o lower instances 25040c Oats— Receipts 4 cars lies lower No 2 RA'eRTLANIS Mal 12 YORK mines escape the tax and on the unr May 12 share lower yearlings and light steers steady to' Call It our Attention to the for five days 3900 eire— 26o white Low ing in four years Now Rates of cows to lower heifers corporations 3511(q37c strong reporting during Pared steady temCieen: with 1 estab-week Market i5II 25 h I a derstanding that the tax is a Based on the reports of 557 ' bulk and praetica 280150 lower bulls and vealers steady the week with COMPSTI10111 with the PrePINE rates i OFFICE: SPACE 45c top the time interest At light vioua present year included: weghts $400 fleshy feeders Steady Stockers weak to 25c odd lots $410O4 lishments in 42 states the survey porary measure the tomining frater- are 1994 1933 steers Quarter ended March 31 down 25 to 300 pit1P a i ur etudei "16 or snore lower bulke for week-- Fed low despite the large matseems the unusually let American AT POPULAR disposed PRICES nity 'National the Western 388 1020Ph 3 Union 52 View's made by Nil choice $6000800 wheat— i221t0 butchers $300 light lights mostir and R government borrowings because of Ltynkaora41YyEltariFS—Elpot 70 130 $875 sev- $785 to $375 pecking sows Wholesale Grocers' association and ter drop carting' Now Available In this 1 New litle 78 ‘ il heifers in Jersey steers $23: the 8900 uncertain for eral g2alawlio General Improvement in Canadian prospect profits t to $34° feeder Pile $326 $4750515:1411-poun- d 02 101 l tabulated by Dun & Bradstreet small' Revere Copper gs Brass Inc weights WO iligi delititr111: reflected slack as in business the iiEL11°wauP Vottl7ruerrertilleuseti:andels 107 com- sales of wholesale' grocers in Feb' industry is reflected by the II 31 Lehigli Ilay Railroad heavy heifers $6160640 beef cows at Cot? hone for five daya lots alts Exchange 2150 15 08 Inc For October 727e cutter grades 81400 close $2350326 290 by 258 per panies issuing reportt since the be- mend for capital investments Compared with week 226 calvet bulls Sterling Froducts inc 168 beef bulls ruary 1934 were higher ILI"' medium ut I $2760300 ago borh r has the -I of 1934 titbit slew ' euP $8000400 practical top vealers MOO few U S Freight Co government although 31 22''WEST 2NrO SOUTH steers $640 new Closing cent than in January 1933 The same ginning titi season high 24 Walworth Co rowed around 210000000 since the CANADIAN WHEAT MOO choice fleshy feeders 1625 loads $60gram in but grarn Ws 08 12 (AP)— Nil 1300 Compared with lest Ohio 011 WINNIPEO comparison revealed an increase May ipts 1930 585 in debt of its low 4 $ 000 800 fed grassers postwar Stage Suttee es Low le point 22 12 Nish Low Close up to $566 Jitters" e Wheat Friday-LaI5citS100 lower aged sheep consolidated Film Induetries " total employes of 149 per heir its borrowings have not kept pace may Nil Petroleum Corp Alt 70Sc 68340 68c $5000565 beet 8108 moatir j3:50095 few fully $100 levier feeders scarce early week $12 monthly employes of Co 48 Nil Pitt Ton cent and in part-tim- e 6944c 69110 follow: uP bnIks loWeri 1001be to sales closing Pn 71c July in off credit $450 bank with the falling ab ore mls s 7568501 kop Good and choice native e Year ended Dec 31: 130 wages (3y Associated Press) 704c 7011c $400 topandveal 19600 Pan springers 548 per cent while ' - °eel"! 41 bilover 1932 $600 has medium which from to good 1025 medium to good California spring American Airways slumped e wheat: No I northern 68el No kinds Put trade—Production of manufacturers rose 122 per cent and part-timIn units during 1933 gays Dun As Brad- lion on June 30 1929 to 22 billion 2 northern 680 No 3 northern 63c Shie Itecel°13 iambi $9000975 fed wooled lambs 18750 National Sugar Refining cent No 2 white 341act No 3 white 3500 weefor five Sda ' 900 fresh shorn lambs $800 extreme too street exceeded 1932 by almost 40 Per cent e wages 312 per Compared with 1933 The 30 on June diacts: falling ago' while values showed an approximate In- slollars $840 good and choloe rsiner at close of week lambs weak lower other e Price Advances kxpected crease of 25 Per cent enabling man firms off in bank loans partly because of shorn ewes5200t325 new crop California steady bulk so25 apringers to week 68600876 show a tour the for first time tHweww profit la been to due 88254835 decreased demand has to medium and partly upward The price trend 60750 CHICAGO May 12 graasy shorn old lambs mostly 8500t550: since the first of the year with quo- Moor covering—The 'goal busing of inadmitate security has created a best $480 Retelpia 8000 meager supply on sale marMika was not quite up to the expectatiOns great ieservoir of unused bank credit ehhelae ka21ttfed kinds ouotable'to 1700 VI ket nominally steady occasional bids and tationa now holding more or less lot NEW le YORK (API—James II May some trade interests which counted on $360 downward quotable top around 15 to 30 per " III: aged wethers $3250 sails øepressing the rneney Market Mellow& vice president of the Phelps Dodge steady at an average of 8380 all quotations nominal beivy down to 75el sholrenLesg5tain 400 Compared with Frievxmlitiiireiinotidocilairman ie(tirtilreatiouililievaio ipts per cent giginitedilitiat118Loottnstl:tal and forcing down interest rates to cent above that obtaining during the grade weighty Since the recently to take effect Mar ss day of lest week The most notable effect of this cone aufhorityywithdrew from the llosPtPg SOUTH CAN rzartenteo Isar 12 (AP 'steers first four months of 1933 in lower 60075 strictly Choice offerings report that for some Copper—Trade observers for week 1225 di all favor of Francis H Brownell Chalftan of FeSDA steady all light weights representative middle of April prices are more WI Mtn to enter corm plethora of funds has been upon open the American Smelting & Refining company Blh:r7: Ogn with last buyers Friday: cattle to 26 lower best weighty low- mitments than domestic consumers reflect- market rates for money as shown 10 hnitpserred too and bulk good steers steady by ailbane have been irregularly MOW light yearlings $925 a generally smaller volume of stocks in ' Net profit of 1806080 after fixed charges choice 171 to 197 pound at $410 few $400 yearling steerslong$850 the in cereals and flour due ing WheLe strictly good and borrowings Er government chiefly the of hands Users abroad L'Kt" ' coy and forTthht: heavy heifers 26040 choice IT hill yearlings to the break in grain quotations fiscal for of transactions in soot government paid from 3 to 4 per cent Mit Tirmontig (Tat weak to Mids—Reports 26 lower: grades higher lowerheifers 83021 with the first Cattle—Receipts for rive days 1100 di best confirm earlier Indications of a lower for long-tim- e $710 light offerings borrowings prior to cOmPares Canned goods are strong in tone hides last Pridar: $660 heavy of light native cowl have 1930 recent short-timPrice trend rare IteionMrgrletrligheghthree gni months of the previous fiscal year all cows 26 lower: bull§ 10025 lower has financing 108 loads with a shortage averted by the indi- been reports Cos 10 Conte Pound seeing weak to 25 lower heavy feeders to 'eaten 924 fed steers and and pound 11 vegetable yearlings H00 25 lower thin Mockers unevenly reserve bank's cants In been as low as &Wady to per cent (January The New York federal early fruit 1 fl cation ofWhile of Is showed aettenliSilerill current trend daily weak 4411113 ritutrolteLlielloPlriVilleritolte0511 MourConsumer buying Aponte to be 1933) As it result of these unprecethe crops 5000 with ipts Compared to confined New York dissmall lot in :10 the iltnethiTbigrordre: future grassers pound wa $550083 indicative of higher prices exports or net change spring limbs trict 'Selling agent look for some broad- dented low rates the federal governFriday last week: Lambs and heifers I375 heiferish cows $4ay0 around 75c08100 lower ewes $1000200 of &mend on the theory Of limited ment had about 80 per tent of its earmark for foreign account dium rood bunk business is being booked in small ening ist0 salossLui u down heavier ewes off molt week's prencon- stocks in the hands of bankers borrowings in issues of less than one Bank openings for 1934 increased to 137 nominally Heady Heal too clipped lambs 1900 cioein top "quantities due to the unsettled Wool—The total Supply of combing And of the coup 1932 and as much as 51 per with the addition of ea last week moor& ma Item gol!d 118pitt22735: direct 130: etead1 $825 week's bulk $825815 extreme top' some in in parts ditions year exclusive mpools of clothing e Carpet wtols wooled lambs 51010 week' bulk HUI In the dinited States on May 1 Including cent in 1933 Hence in spite of its lonplepti141:14Tolirerfa BitIlialleefl'el IglitkregA 0725 choice lidutoetrtruIllystars's15ita': with closing sales $9000926 largely few aaadrealvala 8600I others $4500550 estimated unshorn portion of the new clip increased demands the market 21 state banks $1150 early late sales at native upon springers The index number of wholesale was 460000000 difor 1800 five Sheop—fleceipte days grease equivalent common to medium' at the The weight accordingpounds 137a CumPaced with last Friday: 8100001050 75with to the New York wool the average rate paid by the goVern- - of the nation tends to' concentrate "at' 76 to grocery prices compiled by Grocers' pound Californie Lambs strong good 72 to 27 pound goring $8000850: top exchange service compared with 521- - meat has steadily declined The largely 11036i $102501050 tional American Wholesale gpringers 1 illustration BOO 000000 pounds on May last year and the another of is It yearbriga laatost$125shorn y 050 toda mere ewes $460 Monshorn extreme 1050 March top 1919 was 000000 pounds at the same date two years average rate on June 30 association reached 843 in demand on 'Du' au ales" of on light weights $350 150 to and effect late top supply day month ago KANSAS 12 (APDSDA)-- 1 200 418 per cent by June 30 1932 it had pound offerings closing at $200 largely the highest set down for that and credit In nev areas the floge—Recelotsmiry700:may $00 direct holdover been reduced to 337 per cent and money of DENVER Met 12 since 1930 representing an advance resenting a decline of 234 is relatively low po !natty direct Market nominally steady cent capital supply 60 calves 415 compared with week per end of June it stood at but the demand is unusually great lteMaprd11111werillees 0 Pound 8345 ago beef by of aol per cent from the compara- and 351 per cent steers weak to 25c lower car lots respectively from cent cent mixed yearlings 10 Furthermore the per I P to tive 1933 poeition-19too ' elI Vel ae°' For 16000700 heifers and15026c for borrowed funds Cattle—Re The number of defaulting retail- 335 per under week's 00166 higher closing estimates for the 'next 'fiscal is k—Steers 1000 pounds and up that of 1932 and 41 per cent higher ers in 1933 was cut Whereas in older sections wee 2278- - from budget heifers $600 bulk V5000580 best to hish high lower off more spot index weak lighter weights an estimated average indicate lower in between' 25c to beef year Owl steady rethan in 'March 1931 This1933 to 25c lower mixed yearlings and fed bell a '"' r many years savings have In 1932 a reduction of 250 40050c off top ' $426 bulk $2850 and 3039 cent ra te of 2 59 per cent f or all ou ts tand- - suited stead yto strong fed cows weak to 25c grades started to rise in March a large strolls to 60e of ea 1' era in accumulation vesiers and this while liabilities fell calves 375: per lower others v fed50e a weak 250 lower eee to interest bearing debt of the and for eleven successive months level top vealers 1750 stocker ital and where the capital needs of mostly 50c lower stockers to $17071758 from in ing and feeders higher more lower several $460 eral govermnent preceding has 1932 s decrease of 383$27762731 above that of the year steers $875 feeders 1e4425o or the community are more nearly salts- - steady week's top cent The per ' Coloweights $860 700: nine singles direct been maintained Variation In Rate fled the demand for funds In wholesale group however did not rados $775 yearlings two to California meager supply held over Failure Trend Downward make such a 'evocable showing as Another interesting relationship tion to supply is much different re- - 'Haters 050 fleshy feeders moo: bulk nominally unchanged 16766735 111001 $28 Abrousth fed ipts The larger profits whkh hays re- ars Increase of 4 in the number of de- shown In the accoMpanying chart Is suiting in comparatively lower rates g:141:111141:111rs'01411prseln lambs to shippers stcady two Joule 300 through For week wooled one load to packers Consequently as a nation grows Sheep—Reoeipts sulted from operations under the fault In 1933 brought the total to the variation in the rate of Interest Woe freight paid: fed lambs $$50 talking steady to weak on spring code find evidence in the reduction 200 the highest ever recorded The charged in the large and small cities and develops and as savings lIeeInnti- E0-- 9 for week fed Wooled lambs $1000 e trend' of --to wr es t week's low lever toPt pritetlp:fillggPerut-- e Iambi of 351 per cent in the money boat money loss which these failures en In general the rates are higher in the late the 126 lower led shorn and shorn springers Arisonas $1010: wooled 1933 150 7505100 In lower the tailed however ayes smaller declin- smaller cities of the aouth and west rates charged by banks for borrowed t44e0111 ttitiab springere through bankruptcies in shorret i4511): laiellruriltil sterf)rt 10WOri feeders sharply lower late top fed week's wooled week's top $1025 1900 preceding year the total of retailers ing from 86384858 in 1932 to $5- - than in the larger centers of the north funds Is bound to decline to lower- lambs ewes $10 00:0 wooled 1025 lambs Salt Lake City Utah $925w is frd shorn $8250885 built due and lower levels The rates will flueand wholesalers that failed reached 106264 or 20 per cent The down- and east This of course lambs H750835 shorn ewe s1 week's $9000975: $1050: California ih4Littrsiolorort springers top to to of tuate from time time according e an high of 3235 while the trend in failures thus far in the cur- largely to the slower accumulation 1000 bulk shorn $0005t 1940 top closing ite top $175 liabilities reached a peak rent year has been more marked capital in the smaller and younger the variation in demand but the long- - °man may 1911ai4l8t)-aloat---o involved yearling wethers 17000150 1500 Generally Heady with Fridays shorn ewes $2500376 California feeding of 934147389 In 1933 these totals among retailers than among whole- sections of the country in comparison time tendency will be downward—it oelats MTh better lambs average shearing lamb $3000320 $1760640 : saler& Wilal IJIS big cities where the wealthis Inevitable 'several lots ipssittun Welghts 12280330 tbceo e droned to 2478 end s22177o22 rep a 1 ' natio- Mdkommma t L Bank Clearings Decline in Price Paid for Borrowed Funds Mare Pronounced in Larger Towns price-slashin- Livestock Qootations dr (AP)--Il- aw U S CANNING i EXPORTS TAKE UPWARD TURN Vitat-on- am5eoct Chicago Grain 1 '' e d ' SePtIMW Fruits light-ligh- either 1 - - 1 - 115 --- Chicago Stock List dairy-bre- that It United '': - ocluulljithrda 16 er y -- x- II d i 2r 1 rces Lard-Tie- 0-- (AP)-Wh- - poorly-manage- d h — liTexa-tete- er IsCultaoli 107lii )t - Nee-- 1 - Ar Share Earning Cattle---Reoei- ghty EL Smith &Sons (AP)--Pe- Bar1ey-419(- 1 Coca-Co- ls Ad NESS Building 1$11215e Trade Trends full-tim- Sheep-Rece- mbe full-tim- r3 " i: Wall Street Brie M50fs la Cattle-Rece- Money to Loan On Choice e 8 01411t Improved Sheep-Rece- Real Estate m te lst No Commission No Examination Fee No Red Tape or Delay Liberal Options agw-3n4- paid 26-- 50o 4 Hogs-Rec- eipts Sheen-Rece- ITracy long-tim- 'I '- it Loan Trust Co - |
