The Mason City Globe-Gazette from Mason City, Iowa on March 4, 1931 · Page 16
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March 4, 1931

The Mason City Globe-Gazette from Mason City, Iowa · Page 16

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Wednesday, March 4, 1931
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STEWART-OPPOSED _,TQ "LAME DUCKS" {Continued From Pace 1). and be able to get Into town to yote. _ "And, how soon after election,1 pomeone seems to have inquired at this juncture, "shall the new lawmakers meet?" * It appears to have been the general consensus among the "fathers" Jhat it was desirable to have them assemble as speedily aa was practicable, considering the rate of travel that long ago. But -even then a month was adequate. Accordingly JJK the first* Monday in December was P specified. .. ... 12 - *;:* .*:-, ' . , ' ; r,|| TOO LATE to remedy matters, it · J f J- was realized that the old.con- £ gressmen would not be out of off ice Ij until three months later than the i date named for .the "newly-elected outfit to take" their seats. It was all i very well as to members who were due: to succeed themselves, but presented an exceedingly embarrassing situation relative to seats in which changes had "been voted.' v There was only one way to solve tho puzzle: . i · 4 The constitution was interpreted as meaning that' a representative elected in the November of any , given year was not entitled to take office until after March 4, noon, of t the succeeding, year.'Unless called into special session, however,'a new * -6ongress does not meet on March , t *--or until the first Monday In the ensuing December.: · · . · ' . ' r |T WORKS out like this: 1 f John Smith, let -us say, is elect «d to congress in November, 1930 9ef eating George Jones, who prey I t cusly has held the job. j Yet when congress meets in De j cember, 1930, Jones is still a con r |j . gressman and r "continues to b'e on I until noon, March 4,-:1931, when con gresa-adjourns. That ·congress can i not last a minute longer than that j The moment for it to end is fixed bj the constitution. The next congress does not mee until December, 1931--unless the president calls it, into extra session If he does, Smith takes his seat , i However, no president ever calls -an ! extra session except under dire ne I Cessity; congress is the worst cros 1 1 the presidential office has to carry ; Any way,. at the latest, 'Smith is sworn in in December.,Congress wii not come to an arbitrarily fixed enc in 1932. Maybe it will, stay in session until nearly time for the national conventions. It can grind,away as long as it likes that year. When finally it does adjourn, it will adjourn until December--unless called into special session._ In the meantime, in November, there will be another election and maybe: Jones, staking : a comeback, will beat Smith. Nevertheless, Smith will hang on until March 4, 1933. \ change to abolish them, and getting the constitution amended always has been a terrific undertaking except once or twice in American history. / MAD LAUGHTER A Thrilling Mystery Story By BOLES BURTON MASON CITY GLOBE-GAZETTE (Continued From Comle Pace). establishing direct contact with the ancient. ^/'Thanks,; sir,;- he said, in reply to Dick's invitation. "Another pint of cider won't come amiss. Yes, sir, 'tis a terrible poor country, and it takes a good,man to'make farming pay hereabouts, put 'tweren't always like that. I.mind my dad saying that there was plenty of money about when.the mines was working." "It seems a-pity that they can't be re-opened,'' remarked Dick. "Aye, 'tis a pity," agreed the old man. "But the-ore is air used up that's what it is. There's been folk coming here, off and on, these last 50 years, trying if they couldn't find enough to work, but 'tis no good." "Them -chaps .what bought that old. mine over Nordrach way don't seem to have done nothing," put in one of the listeners. ... ''Nay, not likely to," replied the old man. contemptuously. "Two" or three chaps from London they was sir. Bought up one of the ruined mines for a song; so I heard tell. 1 · And so on indefinitely--until the i.--Constitution is amended. / 'AFTER HIS DEFEAT in 1930, but ** while still in congress, Jones was known aa a "lame duck," just as Smith will be known as a "lame Iuck" while, still holding over after Jus 1932 defeat. . . I . As can be seen, ."lame ducks" are |n season only every other year, and the sessions in'which they are in evidence are referred to aa 'lame duck sessions." · · ' ' ' - , '· 1 A senator can-be a, 'lame duck", ^ven as a representative is. His term Is three times as long,' but he is equally lame, while serving out the remaining months of it, after being ceaten. . . . . / · · ·· , - . · . * . . * · * , ' '. 'THE ARGUMENT Is advanced 1 that there ougjit to be no "lame ducks"--that a senator or- a representative never ought to come back to congress after the .voters have "repudiated" him, as, critics of the system rather harshly express it. -* Possibly this'is sound reasoning, but there likewise is something .to be said" against the unceremonious ending o£ congressional sessions ·upon a given, inelastic date, whether or. not there still is business on' hand for congress to transact. The last session.has revealed this weakness strikingly. The legislative jam has been frightful. Laws whic should have been passed have bee tossed, perforce, into the 'discar due to lack of time to consider them Many others have been passed to hurriedly THREE MONTHS not only is no '·!· Jong eripugh for congress to do workmanlike .job, but many of it most capable -members insist' tha J the ensuing nine months, from March 4 until the first Monday ' December Is too long for the whit house to be left in sole charge o tha country 'Without in the least reflectin upon the present chief 'executivi they maintain that nine month would be a sufficient interval fo the wrong kind of president lef wholly to his own devices, to d a great deal of damage. --All this is why "lame,duck ses Bibns" have been fought for so man years, but it takes a constitutiona ago come'-April 'twill be when they first come. But nothing never came of it. They worked there for a bit, and then went away. Some of them com es; down now and then and has a look at th,e place, but that's all." Nevertheless, Dick went to bed fully determined to have a look at the ruined mine out Nordracfi way. (TO BE CONTINUED) REDOCTiOPF DEBT DISCUSSED Indebtedness Cut $398,000 Says Lloyd Jones; R. L. ; Jackson Speaks. A -Fort Dodge newspaper devoted .wo full columns in. its Tuesday issue to the address given on the city manager form of government by wo; Mason City residents, Ralph Joyd Jones and R. L. Jackson, at he high school.-; auditorium there lionday night. The newspaper quoted large parts of the address of Mr. Lloyd Jones on the reduction pf indebtedness! a comphshed by the city manager form of government in Mason -City and the · speech of Mr. Jackson, ihowlrig the general success of this ystem in other cities.' In a report )f the.speeches in its Tuesday edi- ion the Globe-Gazette inadvertently quoted Mr. Jones as stating- the new ystem had reduced taxes instead of indebtedness. The Fort Dodge newspaper quot- d Mr. Jones as stating "that for even years prior to the adoption of he council-inanager.plan of-government, Mason City had been steadily running into debt until in 1927 : the ilty.was virtually near bankruptcy, n 1927 .the council-manager plan vas adopted and in the four years ince then the city's indebtedness as .been : reduced a grand total of 398,000, or practically $100,000 a ear. All this has been accomplished without increasing the tax levy and 'urthermore, in the past four years , mprovementa have been made In jvarious city departments." - "Adoption of the .city manager «,,.^ plan is no longer a leap in the | 8.35. dark,".Mr. Jackson was quoted as stating-. "It is proving a success in 403 cities in the United.States, 15 in Canada and two In Ireland. In the United States one out of every six SELLERS TRY TO IMPROVE PRICES Early Cattle Trade Slow; Small Sheep Receipts Higher. CHICAGO, March 4. W 1 )--Nursing prices back to a higher plane, commission men were enpouraged by the,moderate supply of 15,000 hogs offerer] here and a shrinkage, of 20.000 in the general receipts of 75000 reported in 11 leading markfc. Packers received only 3,000 hogs on direct consignment and were compelled to fill orders in competition with out-of-town bifyers. About 4,000 stale hogs Were on hand. Bids were little better than steady, but most desirable hogs were held firmly at prices that looked a dime higher than Tuesday's · average Choice 200 lb. butchers were held at $7.50 and above, while $7.40 and 5 was offered for 170-210 lb kinds. , · · . · ' . ' . . ._ Little activity marked the open- nig of trading in the cattle alleys; Receipts of 6,000 ran largely to steers,. most of them plain to good classes with a shortage of finished ·beeves. Demand for calves failed to 'show any marked improvement, and the 2,500 vealers-offered were want- .ed at steady prices. ; Only 9,000'sheep and lambs mad up the day's total supply including 450 forward straight to slaughter houses. Better prices were scheduled, but buyers were slow to take hold. Cattle ftnfshed strong' to 25c up and sheen uneven, hut mostly steady. -- --·---- i-j ' - ' MARCH 4 p| 1931 SUPPLY HELPS STEADY HOGS · KANSAS CITY LIVESTOCK. KANSAS CITY, March 4. /p_ u. S department of agriculture-- , 'HOGS 3.500; 280 direct; uneven, strong to 15e higher; top 57.30 on choice lfiO-200 Ibs good and choice HO -160, Ibs. S8.60@7.10; 160-180 Ibs. 56.85^7.25: 180-200 Ibs. f e So© 7.30.- 200-220 Its. S8.90®7.25: 220-250' Ibs. $6.75@7.20; 250-290 Ibs. S6.60@6.95: 290350 Ibs. 56.4006.75; packing sows 275-!00 CATTLE 4. 500 /calves 700; fairly active, steady to strong; top medium weight steers 530. .Steers, good and choice 600- BOO Ibs. J7.75@10.50;. 000-1100 Ibs. S8S10.75; 11001300 Ibs. 58®10.75; 1300-1500 Ibs. 58.253 10.75; common and medium 600 Ibs. up $5jp 8: heifers, good ana choice 550-8 Ml Ibs. 58.50 iff0: common .and mcdiiun 550-850 -Ibs. 54.25 ©6.JI5: cows, good and choice 54.7500; common .and medium" $3.75®4,75; low cutter -ana cutter 52.50®3.75; vealera (milk fed) medium to choice $5@9; cull and common $3.5015*5;. stocker and" feeders steers, good and choice all weights) S6.50@8.75; common and medium (all weights) 54@6.75. SHEET 9,000; slow; very little done; bidding lower on lambs; fed Iambs held above *8; lambs, good and choice 900 Ibs. down $7.25@8; ^medium 90 Ibs. down 56.25©7.25' common, all ' weights' 5500.25; medium to choice 91-100 Ibs. S6.25©7.75; ewes, medium to choice 150 Ibi. down 52.7504.25. · LATE UPTURNS IN GRAINS ARE MADE LIVESTOCK FOKECAST CHICAGO, -March 4.--Estimated receipts for hogs, 23,000; cattle, 0,000; sheep, 10,- Advance Due Largely to Buying of July Wheat and Selling of May. CHICAGO, March 4. UPX-Grains scored late upturns today, largely as a result of persistent buying of of (May. Offerings of July were scarce. Improved demand 4 helped Ht1l "Ulate price iu c °rn and wheat. Market Notes BY TICKER TAPE Reports said Ion B western com mnrk,,Mnr, u I ,V° a -"""" 3h ^5" h tore of the -present movement beinc Local Hogs · MASON CITY, March 4.--Best sorted lights, ISO to 230 Ibs., S67Q- best medium weight butchers 240 to 260 Ibs., $6.50; best heavy butchers, 270 to 300 Ibs., ?6.30; best prime heavy butchers, 310 to 350 Ibs., $6.10; beat packing- sows, 3011 to 350 Ibs., 55.40; best heavy sows 360 to 400abs., $5.20. ' I.IVESTOCK ESTIMATE CHICAGO, March 4. (/D--Official estimated receipts tomorrow: Cattle, 5 OQO 1 hogs, .25,000; aheep, 11,000. . - ' Representative Sales CHICAGO, March 4. cm-- Representative sales, HS selected by the U. S. department or agrlcHlture -- i HOGS. Heavy-- Lights -378 34- 337 50 313 51 289 72 275 58 261 ,36 252 Mediums-- CHICAGO LIVESTOCK. .W--V. S. depart- CH1CAGO, March 4. ·ment of agriculture-HOGS 15,000; 3,000 direct: steady to 10= lower; 150-220 Ibs. S7.25@7.50; top 57.50,240-340 Ins. $6.65®7.25; pigs S8.25(3;6 7S : anas, weights and light lights 57®7.40 : packing-sows 56®3;25. Light ll^bts. good and choice 140-160 Ibs; S7.15@7.EO; light WeB ?, t J? 0 ? 00 ""· *7-=5@7.50; medium !S B .,«n a ' 0 ' 250 ltls - * 7 @7.50; heavy weight 250-350 Ibs. S6.60®7.20: packing sows, medium and good 275-500 His. S5.00®6.35; slaughter-pigs, 100-130 Ibs. S6.40@7.15. CATTLE 6,000;: calves ,2,500; ;fed ste«rs rand yearlings strong to 25c -higher; 'better erades showing most advance, largely ' on shipper account; common and medium grade offerings selling at S8.50 downward; rather slow but scarce; hulk $7.25Q0.50 with ex- treroB top 511.25 paid 1,110 Ib. averages; best- heavies 510.75; all grades she Block Signer; vesJers 50c@51 lower. Slaughter cattle and vealers: Steers, good and choice 600-000 Ibs. S8,75@11.50; 900-1100 Ibs. 59® .11.50; 1100-1300 ll». 59.25@11,BO; 1300-1500 -Ibs. 59-25cj11.75; common and medium 6001300 Ibs. S6SP9.25; heifers, good and choice .550-850 Ibs. S7.25@8.T5; common, and-medium $5.25@7.50; cows, good and choice S5-J? 6-EOr common and medium 54(S5: low cutter and cutter S3@4; bulls (yearlings ex- eluded) good and choice (beef) $4.25®5.75; cutter to medium J3.50jI4.40; vealers (milk fed) good and choice 56.5038.50: medium S« Sfi v 50; «ull and common $4(^6. Stacker ?£?,J" Mer Mltle: Steers, good and choice 500-1050 Ibs. S7@8; common ana medium 54,75(yJ7. - _SHEEP 0,000; fat lambs 10@15c lower; other classes steady: few good to choice lambs 96 Ibs. down 58.00@8.25; early top 5S.75 to outsiders; fat ewes 54.00®4.75; slaughter aheep and lambs, lambs SO Jbs «?'J'?^ IS o 0 Sj "2? ctlol ? c 58-00®8.85; medium !TTM?o-?2 : al " 1CO lb3 - medium to choice |7.00®8.75: all .weights common S6.00® T^L CWCS °°' 150 lbs - radium to choice 13.50 ©5.00; all weights cull and common 52.00 4.00; feeding lambs 60-75 Ins. $7.75© 71- G8 C4 55 05 89 Steers 21 20 20 S2 19 22 35 28 17 22 13 20 22 20 12 .247 230 230 215 204 1110 1185 1344 1312 1228 1409 1210 1000 10TO 1241 1120 1020 -1012 21B3 SIB 6.65 51 0.70 64' 6.75 78 6.60 88 6.95 60 7.05 7.15 37 44 7.20 62 7.25 29 7.ao 10 7.33 7.40 7.50 CATTLE. Heifer. 11.25 20 2S 27 14 Cows-6 19 10 12 107 192 186 179 163 . Light Lights-157 151 147 13B . 132 7.45 7.40 7.50 7.35 7.35 7.40 7.35 7.'30 721 870 878 892 1222 1130 940 1030 Native Lambs-- cities of 100,000.population possesses the councilTrnanager form:" LET US EXECUTE YOUR ORDERS for listed or unlisted ^SECURITIES on any Stock Exchange Investment Department FIRST NATIONAL BAJVR Mnson City DO YOU " NEED MONEY? Our personal loan department offers good service and reasonable terms. C. E. Brooks Co. 20!) |4 1st Niltl. Bk. Bid;,'., Ph. 280 OMAHA MVTB STOCK. OMAHA. March 4. (M--U. a. department of agriculture -: .. HOGS 15.000, 181. direct; steady to lOc higher to shippers, top 57 on 200-210 Ib butchers; early sales 170-230- Ibs. $6.75© 6.90; 230-260 Ibs. 58.50Sp6.05; packing sows $5.85@5.90; smooth offerings unward to 56; mostly weight 70 85 83 80 94 05 91 75 72 102 98 GO 110 63 10.73 10.35 10.00 9. SO 9.25 9.00 8.0,-i 8.15 8.00 7.50 7.00 O.Cft 0.00 SHEEP. Fed Westerns-- 8.65 a.on -7.50 0.2.i o.oo- 5.£jO 4.110 3.25 JtltS wlrTlLo/ C ° m '" ' he n ' ne *i"V }v * 000,000 bushels agalrTst^eSUloO.OOO 'fast year, ana compared with a five-year average of 711,000.000 bushels V fv? ty) Co CHICAGO CASH GRAIN. BO, March 4. UP)--Wheat--No 2 No. 1 hard 7Oc; No. 2 hard (smutc: No. 1 northern spring 79c ·No. 3 mixed 57®59Hc; No. 4 mixed yellow 57%{p60c; No.-.4 yellow 58®59c-°No 3 o yellow 54©55«c; No. 8 yellow 56Wc : No 2 white 62(0)62 Kc; No. 3 white M$®eo££ No. 4 white B8M®«c; No. 5 white 51 Vic sample grade 48c. » u t / i c . bellies $11.25. , .Timothy seed-- S8.75@9. Clover seed-- S13®20.75. l^ird 58.75; ribs $11.12; MASON CITY GRAIN . MASON CITY, March 4 -Barley ,... ....."....32c Oats _ 22c Shelled corn, No. 4 '.','.'.'. A2e Ear corn - ' ' Rq r GrainFutures 8.75 220 S.fiS 425 8.00 230 8.50 550 8.40 8.35 8.25 8.00 7.75 7.50 7.2T. :7.00 · G.50 6.00 86 84 87 9S 800 102 Fat Ewes-- WEDNESDAY GR,VIN CLOSE. · CKICAGO, March t. [,TI~ July old new aw new 135 126 140 167 193 4.75 4.SU 4.25 4.00 3.51! Hog Markets olrone to 25c , average Tuesday 50.59, SHOW ARE SET Y. M.~C. A. and Kiwanis Club to Sponsor JExhibits on Four Days. Preliminary announcement 'o f plans for the fifth annual Y. M. C. A. and Kiwanis club boys' hobby show has been made by Clyde H. Hamlin, secretary of boys' work for the Kiwanis 'club.'.. Mr. Hamlin met Tuesday night at the Y. M. C. A. with. 25 boys .who had entries in last year's show and much interest was evidenced in making arrangements for the exhibits. ' . . The hobby show will be held April 8, 9, 10 and 11. The show has formerly been for only three days. The time has been extended to give the boys a full day, on Wednesday, to make entries, a full day Thursd.ay for the judges to decide on winners and two days, Friday and Saturday, during which the show will be open to the public. At the hobby show last year 478 entries were made by 125 boys. The official classification of entries will be announced in about 10 days." Senate Action on Bill to Provide Money for Sending Band Held Up WASHINGTON, March 4. (VP--A esolution'-appropriating ?7,500 to over the expenses of having- the rmy band attend the G. A. R. nn- onal reunion at Des Moincs was dopted by the house and sent to lie senate just before adjournment I day. Senate action was held up. « - . 55.504r6.25; CATTLE 5,300: 300 calves; fed steers and yearlings slow, steady- to weak; cows fully steady; · hellera - strong to 25c higher.- bull? and vealers steady; stottiers and feeders scarce, steady; fed steers and yearlings $75? 9; Avelghty steers and 1,123 Ibs. 49.40, some held higher: heifers 580)7.25; bulk beef cows $40*5.25; cutter grades $303.75: medium Dulls J3.50©3.85; practical top vealers {8. SHEEP 10,000; Iambs weak to 25c lower to shippers; sheep and feeders scarce. steady; early sales fed wooled lamb's to shippers 94 I b. weights $8.10; 80-90 lb. averages $8.25®8.30; top $8.30; packer hlda · 57.75 and down tin strong weight lambs; best ewes 54.50; no choice feeders Included. By THE ASSOCIATED PRESS Hog prices at v Iowa markets" Wednesday - ' ,, C £?.^ R *AWDS--Prime hoga: Medlunis SS.25SJ/0.50; heavies 55.75®6.15; lights $0.45 ®6.65; packers 55.30ffi5.G5. DES MOINES--2,200; steady to strong;" Prime lights 56.40® 6.75; prime mediums «6.25@6.05; prime heavies S5.7506.40- eocd packers S5g5.75. « · · _ » . f c u o u OMTOIWA--5c higher; 120-150 Ibs. $4.80; 150-180 Ibs. S8.10; 180-230 Ibs. $6.75;_230260 Ibs. 5C.55; 260-300 Ibs. S6.25: 300-350 Iba. 55.95; over 350 Ibs. 55.65; good packers. 55.45; fair packers {4.45. WATERLOO--Prime hoga. 160-220 Iba S6.40ST6.70; 220-250 Ibs. 56.30S6.60; 250300 Ibs. S8.10«pG.40; 300-350 Ibs. -55.95® 0.25; good -packers 55.20®5.55. -. COMBINED HOG RECEIPTS. DES M01NES, March 4. m--U. S. department of agriculture-Combined hoe receipts at 23 concentration yards and 7 packing plants located In Interior Iowa and southern Minnesota for the 24 hour period ended at 10 a. m. today were 14,100 compared 'with 22,600 a week ago. Generally steady to strong, a few stations 5-loc higher than Tuesday; marketings of moderate proportions; bulk 170-230 Ibs: up to $0.00 at several yards; 250-290 Ibs. largely S6,20@8.6S'and big weight butchers flown to 56. * . 'Quotations for good and choice: Light lights, : 140-160 Iba. S6.20@6.B5; . light weights, 160-180 Ibs. S6.40@8.SO; 180-200 Ibs. S6.50cS'fi,QO; medium 'weights' 200-220 Ibs. 56.500)6.30; 220-250 Ibs: S8.30@6.S5; heavy weights, 250-230 Ibs. $6.15®6.70; 2DO- 350 Ibs. S5.00SP6.45. Good packing sows 275-350 Ibs. S5.30® 5.85; 350-425 Ibs. $5.105.60; 425-550 Ibs 54.853-5.30. Mar. old. . May old. July '. Sept. RYE-Mar. old.. new. old.. -May new.. July v ....'. Sept. I-ARD-Mar May July BELLIES-May July ..'. R ' Bh 0114 62 81»i .83 05« .32'4 .32% .32% - .42yv 8.75 8.90 S.10 :Low .60H -.607, .29!! . .31-,; .32 V, .32 .32% .37 V, . . Close .79% 7 gi .32% .32% GRAIN OPEN CHICAGO, March 4. CORN-Mar. old. .. new.. May old... new.. July .. Sept WHEAT-Mar. o l d . . . new. . May old. .. new.. July Sept OATS-liar. o l d . . . rTew.. May old... new.. July Sept. '. RYE-Mar. old. .. n e w . . . old new.. July Sept ,, LARD-Mar , May July BELLIES-May Close Yr. Ago. .88 Vi .88% .. 1.09 ~ Close YesM'y. .793,1 -70V4 .8116 .82Vi .04% .6414 .20% .32% 8.75 8.90 9.07 11.30 11.45 (.'PI -Open Today. .60% .01 ' .63% .79 \i .70% .81% .82 'A .03% .64 May .711.4 . .10.45 ..10.60 . .10.85 ..13.37 .37% ·37% .4051 .41% .42 '.i .-13 .37 tt .38 .40'A .41 S 8.75 8.00 0.05 Dividend omissions gave Uie bears an opportunity to press their operations on Individual .stocks Tuesday. Remington Rand attracted a great deal of selling on the omission o(| dividends but most of It was for short account rather than liquidation. The treok In United Carbon Indicated that adverse dividend action was unexpected. Shares of Wilson and company, which have been notable for the dearth of activity, wcic steady. The meeting due a t ' this time to consider dividend payments will be held a little later than usual on account of tne absence from the city of several directors. Tin next dividend to apply toward accumlattana Is payable April 1. Dividends In arrears have been paid regularly In every quarter since December, 1928. · · AJIERICAN CAN RESISTING DEPRESSION American Can, which 13! expected by some observers to return to leadership when the list turns upward, apparently IB continuing to withstand the depression In good style. Declaring that the generarilne of business was h o l d i n g , u p well, H. W. Phelps, president, cold Tuesday that stacks of-packers' goods were moving well and a normal seasonal pack for the current year Is in prospect. Pullman, Incorporated, which fared much better last year, ro far as Its car building division Is concerned, than the average In the field continues to give a good account of Itself. A new group has become Interested In "the stock on the belief that It Is behind the market. Niagara Hudson Power In which the United corporation hog Increased Its holdings Is contemplating listing on' the New York stock exchange. Translui, another New York curb Issue, gave a demonstration of strength. The company has made arrangements with Radlo-Kellh-Or- pneum for the exhibition ol daylight pictures In an extensive chain of small theaters thruout the country. The policy Is to operate the theaters on a 10-cent admission basis featuring RKO releases. The Trans lux daylight screen- Involves a new principle of exhibition with the projector behind the screen instead of at the rear of the house-, It fs, said. CHICAGO STEEL CHIEFS OPTIMISTIC Officials of leading steel companies In the Chicago district' are not In accord with recently published reports that the steel Industry has not measured up to expectations so far this year. These reports were given wide circulation and excited considerable Interest and comment. "No one expected steel ingot pioductlo'n to. go to 100 per cent or anything Ilke.it this year," said an official of one of the largest steel companies In the west. At the beginning of the year it 'was generally predicted that output would not go cbove 70 percent, and possibly not above 60 per cent of capacity of all companies at any time during 1931. At present the Industry Is at close tr. 55 per cent, with every Indication that f u r t h e r gains will be made In March and possibly In succeeding months with the usual letdown in June. July and August, followed by an upturn In the fall months. INCREASES HOLDINGS / IN ^ilAGARA HUDSON United Corporation Utility holding unit sponsored by Morgan B'onbright Interests, has increased Its holdings in eastern utility companies by the acquisition of 4.070,000 common -shares of. Niagara Hudson Paper corporation from St. Regis Paper company. This transaction,_which gives United Corporation about 23 per cent of this class of Niagara Hudson Power stock, was. effected by giving St. Regis paper Interests a total of 2,170,GGC shares of United Corporation common stock. St. Regis Paper, however, retains Its holdings of Niagara Hudson Power A warrants numbering 1,025,666- ui.lls, entitling the company to purchase an equal number of additional common shares. STOCK MARKET DROPS SHARPLY Public Utilities Make Little Headway as Rails Lead Down Trend. NEW YORK, March 4. UP)-Shrinkage of railway dividends crowded more favorable developments out of speculative vision in Wall street today and the stock market broke sharply, _ Public Utility shares made little headway. : The midweek business statistics disclosed mixed trends, altho the steel trade reviews reported further gains for the - tenth consecutive week. Frisco, Atchison, and Union Pacific dropped -about 4 to 7 points then recovered half their Tosses. Such issues as. Rock Island, Baltimore and Ohio, South Pacific and New York- Central lost 2 to more than 3 points. A long list of indus- ~"' °= trials and utilities made extreme | can p losses of 2 to 3 points, including U I case S., and Bethlehem Steels, American "-Can, American Telephone, North American, Westinghouse du Pout and American Smelting-. - Standard Gas was a firm spot, rising more than 2 points. The selling of the carrier issues, much of which "was regarded as professional bear activity, reflected dividend reductions by Rock Island and Lehigh Valley. The freight 'car loadings report for the week ended Feb. 21 was also regarded as unsaP" isfaetory. , · "Iron Age" placed steel ingot output at 53 per cent of capacity, against 52 a week previously. Credit conditions were stationary, with call money steady to firm at 1% per cent. STOCK LIST NEW YORK STOCKS. NEW YORK. March t. Final Quotations. Air Reduo 9SVi K. C So Allegheny . 9^j, Al Oh Dye 15S',i Aiils cual Mfg 30 X Am Can lit)'4 Am Car . Fdy 33Vs Am Coml Al 11 i^ Am For Pow 42% Am · Intl ' 22 ^ 27 58 K Am Loco Am POW- L Am Had St San Am Holl Mill Am Sm Rcf Am Steel Fdrs Am Sug Ref A T 4 T Am Tob B Am U'at Wks Anaconda Arm of 111 E Kennecott Kresge Kroner . , Lelilgh Port C Llgg My B- Loew's Loose Wiles Lori Hard ,,,, Loula' G E A 33V! 43% 27 23 87 58 51 !i 16% Atchison All Ref Auburn Aviation Corp B i O Barnsdall A Bcndix Av Beth St Borden Boif- Warn Brlggs Burr Arid Hecla 52% 26 « 54 Vi 185?:. 11711 74 r, 40 ',4 2 Cerro de Pasco Ches O Chic Gt W Chic Gt W pf C £ N W C R I p Chrysler Coca Cola Col Fuel ir Col G 4 E Col Grapho Coml Solv Comwlth So Congoleum Consol Gas 20 fc 199 6=4 TOW 13 « 21 62 Vj 10 Vj 23 U 10% 36% 42i 4 111% 26Ti 4 2 % OS 22 "A 40 58 U 21 S 104 li 27 S 41 Curb Market LAMSON BROTHERS GRAIN LETTER July ..13.65 11.15 11.37 . SOUTH ST. PAUL LIVESTOCK. SOUTH ST. PAUL, March 4. Lifl--V 3 department of agriculture-CATTLE 2,200; slow; buyers resisting higher asking prices; few early sales fully steady; choice weighty tcers held around $10.50; others fairly well finished matured offerings 59; ordinary short feds JB®7.50- beef cows largely J3.75@4.75: butcher heifers J5.25ff6.50; yearlings to J7.50 or better; others unchanged; bulls slow, 53.75 downward: feeders and stoclcers about steady; bulk thin kinds $6 down; calvea 4.000; most early bjds and few sales fully 50c or more lower at ?6@8 on strictly choice grades; carting very rigid; throwouts $4.50 down. nous 11,500; fully steady with Tuesday; desirable 150-210 lb. .weight* $6.85®7; top $7; better 210-300 "Ib. averages 56.50(5p6.85;- heavier weights arid plainer grades to $6.25 or below; packing sows mostly 55; better 100-140 lb. weights $6,85@7; average cost Tuesday 56.63,' weight 234. SHEEP 2,000; buyers talking weak to lower on fat-lambs tuklng steady to strong or JSW8.25 and In Instances hlgner on fc! westerns; late Tuesday bulk lambs 58: odf lots natives today 57.75; tnrowouts 46SJ6.50- scattered lots feeders J8@7.25. nOG FUTURES. CHICAGO, March 4. (.TI--Hog futures: To arrive tomorrow blddlns 57.50 for light 'hogs; $7.10 for mediums and 57 for heavies. Grade LIGHTS -March April May ,,. Sept MEDIUMS-March (first half) Sept HEAVIES-Sept: ..'. Offered 8.10 8.50 9.10 9.50 Bid 7.50 8.00 8.50 MISCELLANEOUS POTATO MARKET CHICAGO, March -1. (^---United Statca department of agriculture-Potatoes 8a. on track 2.10, total U. 3. shipments 872;.about steady, trading rather slow; aacked per cwt.. Wisconsin round whites $1.10@1.25; few $1.3001.35; Minnesota round whites S1.10®1.20; Idaho russets No. 1, 5I.50®1.60; No. 2, Sl.l5@l.25; Colorado McClures $1.35,^1.60. SIOTJX CITY LIVESTOCK. SIOUX CITY, March 1. OVH-TJ. S. depart ment of agriculture^ CATTLE 2,000; calves 200; active, slaughter steers^ yearllnga and she stack strong to 25c hlyner; bulls firm; stackers and feeders scarce, at ran R; choice 1,348 lb. bullocks $10.25; scattering sales around $99.50; bulk $788.50; heavy heifers up to J7.50: bulk cows S435.25; heavy beef bulls up to 34.50; practical vealcr top 58; small show- Ing packers S7.25 down. IIOQS 3,000, 125 billed thru; active, 10- 15c higher; all clauses sharing advance, early bulk.160-225 lb. butchers $8.75SJf«.90; top S7 sparingly; 230-280 -Ihs. larcely SG 40SP 0.75; 200-350 Ibs. $6.35®6.60; packing sows mostly $5.7506; few smooth lights 56.10. SHEEP 8,000, very little done; short fed medium fed wooled lambs to shippers 58.25, 10-25C lower than Tuesday's best prices: packers Inactive, t a l k i n g lower; uther classes scarce, quoted steady; Tuesday's packer to'i J8.10; 100 lb. wooled Iambs $7.50. MINNEAPOLIS FLOUB SUNNEAPOLIS, March 4. l,n-- Flour unchanged; shipments .13,763. Bran SH.50® 15.00; standard, middlings 314.00^14,50. HAY MAHKET. CHICAGO, March 4. oil--Hay, 10 cars, unchanged. NEW YORK SUGAR. NEW YORK, March 4. I.TI--Raw sugar unchanged at 3.25c. Raw futures nt midday prices unchanged. Refined unchanged at 4.50c. ~ . HflNNKAroLIS GRAIN. MINNEAPOLIS, March 4. \JPi- Wheat-24-0 cars, 166 a year ago; unchanged. Cash, No. 1 northern and No. 1. dark northern 12, 13, 14 and 15 per cent protein 7254®77',$c: No. 1 dark hard Montana 14 per cent protein 72 '^c; to arrive 60^ @70^c;..No. 1 amber durum 70 ] .4873yic; No. 2 amber d u r um 68 1 ,i@71Vic; No. 1 red durum 63'Ac; May 751ic: July 60Uc; September 63%c. Corn-- No. 3 yellow 50 ! £®53c. OaU-- No. 3 white 27H©27-Xc. Barley-- 30@55c. Rye-- No. 1, ' 34 14 (pi 38 '.4 C. Flax-- No. I. 51.5.1®!. 59. OMAHA GRAIN OMAHA, March 4. tffl-- Wheat -- Hani No. 1. 70c; No. 2, 60c; northern spring smutty No. 3. 6454CJ durum No. 4, 61!c; mixed No. 1. 72'.4c. Corn-- Yellow No. 3, 5314 @54c; No. 3, 51 ©5214c; mixed No. 2, 51'.4052$ic; No. 3, 40 £c- Oats-- White No. 4, 28 We. CHAIN MAKKET REVIEW . WHEAT--Congress adjourned at about noon today and there Is r,o prospect oC f u r - ther legislation until next December: One of the [Inal nets of the president was the veto- Ing of the Muscle shoals bill, the action being communicated to the congress in a message, of which the following fs a part, taken from the press: "I hesitate to contemplate the futm-e ot our Institutions, qf bur government arid of. our country it the present occupation of Its officials Is to be no longer the promotion ot Justice and equal opportunity, but Is to be devoted to barter In the markets. This Is no liberalism, It Is degeneration." Our market was easy early I n . sympathy with unresponsive cables and the forecast for precipitation over the winter wheat belt^ Short covering and a rally carried the deferred deliveries above yesterday's finish. Export business in all grains was quiet. Wheat -looks two sided, but we prefer purchases on breaks for moderate turns. CORK--Corn was oversold and the market developing strength, .caught the local element short. The market- dfd not have much help from wheat unl)I late In the session, but displayed Independent strength. There was a better cash demand. Handlers claim more buyers are In the market than ot late, and the bulk of receipts were applied on contracts, as they have been most of this weclt. The quality of the grain was reported to be showing Improvement. Illinois was the best shipper at the present, with a test weight of about 25 cars sold today, ranging from 55^ to 59 pounds, mainly 57 and above. There appeared to be a change In sentiment in favor of the constructive side, on the belief that the present run of corn would not continue .much longer, especially should the weather bring the farmer out In the fields. We favor a conservatively constructive position on recessions for the present. Liverpool due %c higher. NEW YORK,' March 4. Wl--Price movements on the curb market were largely lu- dccls ve today. Early selling brot moderate reactions thruout the list, followed by a return to higher levels, but the trend thereafter continued Irregular and uncertain ,-,,V,?" cd K L ' Eht " A " waa tne "wiMt.of the UHIty shares, rallying about a point on thi recoveries. . Specialties and Industrials were unsettled Walgreen, Deere and Aluminum of America turned heavy, while Mead Johnson react-d under profit-taking. 'Western Air Express was firm. Motor and metal shares were steady; Tublze "Chatllloh "B" ran up a point. Trans-Lux was dull and Inclined to case. Changes In the oils were generally on the down side, Vacuum and Gulf sagging about a point. Cities Service dipped close to 18 but the supply dwindled. Some of the Investment trusts slipped off. Goldman Sachs,iradlng-ylejded.to. around B. United Founders, however, was firm: Call money renewed at 2 per cent. Bond Market Contl Can Contl Ins Contl Mot Corn Prod Cudahy Curtlss Vft Deere pf Drug Inc Du Pont Eastman SI Pow L Erie tflsk Fox Film A Frceport Tex Genl El Gen Foods Gen, Motors Gen Pub Ser Gillette Gonel Gold Dust Goodrich Goodyear Grail Paige Granby Gt No Ry pt Gt No I o ctfs 21 Gt W Sugar 9 Hahn Hartman B Houston Hudson Hurn 111 Cent Int Comb Eng Intl Har Int Nick Can I T T Johns Manv . ·* » 149 54% 32 VJ Ti 33 30 48 =4 53 43 20% 2B 7/i 37% 17-% 47 :,' ; 20% 78 32% 67 V, Mack Math Alkali May D S Way tag Mex Sea Oil Mid Cont OH M K T Ito Pac Mont Ward Mot' Wheel Nosh Nat Bis Nat Ca Hee A. 36 Nat Dairy Nat Pow I Nat Tea N Y Central NY NH. H Nor W No Am No Pac Otis St Pac G 4 E Packard Para Pub Patha Pcnlck Penn Phil Pet Pills Fl Proc it Gam Pub Ber N J Pullman Radio Rad K O Reading Rem Rand Reo Rep Stl Rey Tob B Roy Dutch' St L San F Sears R Shell U Simmons Sinclair Skelly · So Pac So Pr Sug So Roll Stand Brds St G E ' St Oil Cal St oil N J St Oil N ' Y Stew Warn Stone Web . Stude Superior Oil TeiL Corp Tex Gurt Eul Tim Roll B Union Garb Un Pac Unit Alrc Unit Clg Unit Corp Unit .G E U s Ind Ale U S Rub U S Smelt U S Steel Ut P Lgt J Vanndlum Wabosh Ward Bak A Warn Pix W Jtary West Air ,,,.. Wrat E ilfg 05 it Willys Ov . ni- Woolworth. eo=; Wrigley 79% Yen Tr ' . ' '.lost Young-S Jfc W 40 25Ks 3T 8 155; ·14 2111 34 'A -'314 18 35 4514 40*, 21 fc 116 K 89 20 6 « 84 »! 55% U'A 49 'A lOVi 44 54 2 FonJ 4374 59 fc 12 5i 2054 69 85 54 2SK 1914 . as 14 i4 S',i 20(4 47 G9 4054 55^1 8% 19 13 '891 302; 11 'A 53 54. 19 S3V- 4754 , 1SV4 51 5i 53 y t 60 K 195 5« 32 f , · 511 2iy. H4«i 3051 63^i. 17 235-'. 14 1/! 15 K 345 MASON CITY, March 4.-- Casb Quotations by R O. Morse. EGGS Eggs (current receipts) I5c POULTRY Stags ....13c Heavy hens, 4% Ibs I4c Light hens lOc Old cocks, heavy : 9c Ducks .12c . 7c KANSAS CITY GRAIN. KANSAS CITY, March 4. (yl'--Wheat-- 144 cars; unchanged: No. 2 dark hard 70c,' No. 3, nominally 6854(9710; No. 2 hard 6954 JJ70c; No. 3, 68@89i;; No. 2 red 73o; No. 3 nominally 70@72c. Com--36 cars; unchanged to l^c higher; No. 2 white nominally 56©57c; No. 3, 54-jJ 55c; No. 2 yellow nominally 53Jf57c; No. 3, 54@.55c; No. 2 mixed nominally 53@54c; No. 3, 5154®52c. Oats--tf curs; unchanged; No. 2 white nominally 3:@32V4c; No. 3, nominally 3Hi ®32c. Rye--Nominally 4254©4354C. Barley--30c. TOLEDO SBEBS TOLEDO, llnrch 4. (OT--Seed unchanged. Schneider Heads Citizens Club. WEST UNION, March 4.--The West Union Citizens club Monday evening elected: President, Fred W. Schneider; vice president, C. W. Whitney; secretary, Leon R. Layton; treasurer, W. M. Knox; directors, B. M. Phillips, Walter H. Beall Don Klinlcel. Fairfield Man Kills Self Over 111 Health FAIRFIELD, March 4. OP)--Lincoln Loring, 67, shot himself to death as he lay in bed early today at the home of Joe Shelton here where he roomed. Despondency caused by ill health was given as the reason for the act. Manages Crenm Station ALGONA, March 4.--H. H. Boettcher has moved to Algona and has taken the management of the Fairmont creaiq station. Geese 1 Merchants Quotations. Eggs, in trade 14c Eggs, cash I2c Butter, Plymouth 35c Butter, Clear Lake 33c Butter. State Brand., ^ .36c Butter, dairy .28c Potatoes 35c and 40c a pecK 'NEW YORK, March i. (,D--Firming Influences were at work In the bond marKet today, and both foreign and domestic Investment 'bonds attracted attention from investors. The extensive liquidation in shares during the forenoon caused sympathetic selling of convertibles,' especially amusement loans,and railroad obligations were irregularly lower. United States governments moved upward In quiet trading and utility and foreign obligations were accumulated at prices fractionally above the previous close. Opening bids for the sale of the ?100.000.000 city pf New York -I'/l per cent bond Issue, ut nnon today revealed tenders from three large New York banking groups. The group, headed by Kuhn I^jeb-Dillon T^xa-l was awarded the Issue on a bid 'of 101.STT7 and Interest, the equivalent of a 4.10 per cent basis. Italian 7, per cent government issue advanced about V* point. German 5'^s and 7s were 'fractionally higher. Latin Americans also improved. CLOSING BOND 1IJOTATIONS NEW YORK. March 1. /!)--United States government bonds closed: Liberty 3!4s 101.25. First 4«s 102.20. Fourth 4 K s 103.24. Treasury 4\\a 111.17.' By The Associated Tress. Cen Pub Ser A 17% Midi Unit pfd Cities Service 18% Nat stand Cont Cmc Clfs 8% Gr Ijikes Airc 3% Grigsby-Grunow 5'.i I"?" 11 V 1 lnv ' 45U " b y McNeil 11 1.4 r , , Mid-West Utll 24 Quaker Oats Swift Co Swift Intl Unlt Ga = u s Gypsum utl1 Ind Zenith 21'M 30 120 30 37'4 10 ?i HIDES Quotations Furnished by Wolf Bros. 308 Fifth Street Southwest. Horse hides $1.00-51.75 Cured beef hides 3V;C Green beef hides ...; '. ...2V.c KANSAS CITV PRODUCE. KANSAS CITY, March '· 4. .TI 55.25. Other produce unchanged. CHICAGO CHICAGO, March 4. t.li--Poultry alive 20 trucks, steady,- unchanged. Butter 3,745; firm; creamery extras (02 score) 28c; standard (90 score carlots) 27%c; extra firsts (00-91 score) 27@27!4c; firsts (88-89 score) 25V4©26c; seconds (86-87 ecore) 23W024140. Eggs 15.293; firm: extra firsts 21c; fresh graded firsts lD«ji20c; ordinary firsts 18® 18%c; storage packed extras 22yc; storage packed firsts 21%c. PRODUCE FUTURES. CHICAGO. March 4. on--Egg futures closed: Storage packed firsts, March 2l%t; do, April 22!ic; refrigerator standards. NO.V. 25 Xc. Butter futures closed: Storage standards, March 26c. ' FUNERAL BITES NOT YET PLANNED William H. Gardner Dies From Pneumonia; Sick Two Weeks. William H. Gardner, Harper apartments, died at a local hospital Wednesday afternoon from pneumonia. He had been ill for more than two weeks and entered the hospital Saturday. Mr. Gardner is survived by three sons, E. N. Gardner, 312 Fifth street southwest; F. M. Gardner, 427 Fifth street southwest and'F. E. Gardner St. Louis. Funeral arrangements have not yet been completed but the body will lie in state at the Patterson funeral home. Mr. Gardner was fireman for the Harper apartments for the past 10 years. SUPPLEMENTARY LIST OF STOCK QUOTATIONS Supplied by LAMSON BROTHERS AND CO. Mason 'City Office in Bagley- Beck Building. Telephone No. 7 80V1 NEW .. Ab P P Co 11.. Am Bank Nolc 57v; Am Brake Shoe 36 Am Car Fdy 33',-i Am Metal 21 Am Sum Tob 9^ Am Tot) 115 Am Zc Ld Sm 6", Ar Co B (HI) 2 Assoc Dry Gdg ifia^ Baldwin Lo 21 * Brtggn Mfg Co 19y. Best A Co 41-14 Burr Add Much 23% Butte Ccp Zc 2 Cal Packing -131^ Com Credit 21^ Com Solvents 18;; Cont Motors - ^ 4 1 ; Cont Oil 10 if; Cuclahy Packing 4(i : - a Clirtlsa \Vr Jfrt 7"j Davl Chemical IS;; Endl Johnson ,1UVi. First Nail sirs 52',;, FisU Rubber % General Mills 40 'i Hersbey cti Co 9(Houst Oil (new) ll'y, NEW VOIIK CURB flUOTATIONS Amer For P Co 24'.; Humhle Oil 60-M Amer Gns E! 79"i -- " Am Sup Pow . l / Ark Nat Gag A Jii,. Assoc G- El A 22',i Ca nMarconi 33,, Deforest Radio 6'^ Durant Motor 2 a Rlslcr El 41;, K] Bd . Sh ssv, Ford Mo o( Can 2 STOCKS Indian Ref Kelv-inator Corp Lambert Co Liquid Garb Cp Mathiesbn Alk 25^ iTcK . Robb 1-ji Nev Cona Cop I3si Otis Steel iii Pathe Exchange Plllsuury. Flour Pur,e Oil Co Purity Bak Cp 49 Reading Co Sli Reo Grande Oil 7*i Reo Motors 8U St Joseph Lead 27 il Schultc Re Sirs !s So calif Edison 49=; Standard Brds lO 1 ^ Superior Oil lit Tclauto Corp 20·£ Tobacco Prod 2 - ^ U s Real Im G3% Vanadium G3=j Wabash Ry 17 Western Jlj-Id It, Western Union 14in Wrlglcy Jr Co 7DW Forrl.Mo of Eng 17 Fox Theaters A 4", Hudson B M s 51,^ Niag Hud ,,, Nldes-Bm-Pd 2014 No Amer A'viat 8i' A Pennrond Corp 7^, S - O I n d - 331-; S O Ky - 224J Transcont Air T GV United Gas 10U Un L S: P A 31=; Utll P L J3K Vacuum Oil S2 Walgreen Drug 2*',s CHICAGO STOCKS Allied Mo Indusl 25, Hart-Carter Co 10'-'. "---' - - Aub Anto Co 109 Bepnlx Avi Cp 21 Borg-\Varn Cp 27 B u t l e r ' B r o s 5?f, Cont Chicago Cp 8% Chicago Invest 33; Cord Company 9".;, Ot Lukes Alrc 3vi Grtgsby-Grunnw 5^ Morgan Lltho Natl Leather Natl Standard Quaker Oats Unit Corp U s Gypsum Utll Ind Cp o U S Ra Tele 28 30 103 12 42 NEW YORK PnODUCE. NEW YORK, March 4. t/TV- Poultry, dressed, atcfldy. , Eggs 38,252; steady to f i r m ; mixed colors, regular packed, extras 22y,®22W,c; f l r n r j 21c; seconds 1914®20c; medium firsts 19^0; refrigerator -seconds medium firsts H©l,1',4c. Nearby and nearby western hennery white closely selected extra 24Mfi 25V4c; average extra 23%c; nenrhy white mediums 21V'5f 22Hc; extra first 23Vj fi2.V/.c. Bulter 1B.156; steady. Poultry--Live, steady; brollcn by frelgnl 32c; by express 254HOc. Nominations to r Close Thursday. DTJLUTH, March 4. tm~Nominations for Duiuth's seventh member of the Hall of Fame, the American Legion's plan of selecting the out- ·^-^ding- citizen in the city in 1931) W'l clone Thursday, it has been an- r 'cec! here, with announcement of the selections to be made at the annual banquet March 14. MINNEAPOLIS STOCK MINNEAPOLIS aS CASH SALES Flax 151 t 0 1 59 Stock of Monetary Gold in United States Grew $310,000,000 Last Year WASHINGTON, 'March 4. C/P)-_ The federal reserve board, submitting its aiinual report to congress today, said the stock of monetary gold in the United States increased $310,000,000 last year. This was only 5100,000,000 less than the peak increase of 1927. While that movement came mostly from Europe the latest influx was from Japan, China, and Latin-America. We are getting up-to-date, says the St. Joseph Gazette. Shopkeepers report a falling off in the sale of antiques.

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