Indianapolis Times, Indianapolis, Marion County, 19 September 1936 — Page 28

Trends

Insurance “Reserves Still Are Safe, Flynn Says.

BY JOHN T. FLYNN

EW YORK, Sept. 19.—Col. Knox's charge that “no in- | surance policy is secure; no sav- - Ings account safe” has stirred up "a good deal of a row. What people " who own policies and savings accounts would like to know is—are " they safe? Life insurance companies have built up large reserves, huge accumulations of funds. These serve a double purpose. They act as a guarantee against losses by the company due to unusual circumstances, and they can be employed to take care of loans or cash withdrawals Mr. Flynn in periods of difficulty. To most of the great companies ~ the reserves are not actually essen“tial to pay death benefits. These can be taken care of out of current premiums. That is the basis on Which insurance_finance is organized. As long as policyholders keep up their policies the reserve need not be drawn on. The resefve may, therefore, become important 3n times of difficulty when policyholders can not keep up their payments.

yy nn =»

HE surplus or reserve, fore, is important as a second Jine of defense. And hence we can say that the security of insurance policies depends on two things—the ability of policy-hold- . ers to keep up their payments and, secondarily, the soundness of the Jeserve in case of need. + Anything, therefore, that tends ‘¢ induce insurance policy-holders os abandon their policies is a disct blow at the security of all poljes. It is for this reason that “er public men have carefully reained from making such statements as Col. Knox made which undoubtedly will result in the canceliation of many policies. Now as to the reserve. That is . gash accumulated and invested i securities. These securities are bonds and preferred stocks. In most states they are controlled to some extent by the law. Insurance companies have large $ svestments in public, railroad and utility bonds. These could be affected in two ways. One would be to undermine the properties to which the bonds apply. The other would be by inflation. = =

NFLATION, however, would not render the policies unsafe or even the companies. It merely . would reduce the value of the dollars in which the bonds are payable. But as the policies also are payable in the same kind of gollars, inflation would not necessarily hurt the solvency of the gompanies. It would mereiy reduce the purchasing power of the ‘dollars payable under the policy. But as matters stand, those dolJars have still a larger purchasing power than they had under Mr. Coolidge. It is the properties to which the bonds apply about which RepubJican business leaders are worried. Insurace companies have large investments in railroad and utility bonds. Bankers have insisted that the President's attacks on utilities and business would lower the market value of these bonds. But there is not the slightest danger to insurance companies or policies from this source. No one believes that senior utility bonds or senior railroad bonds are going to suffer. Railroad stocks and utility stocks and some junior bonds may vet be _ hurt, but not the senior bonds. And it is in these that insurance funds are invested. The whole thing is a tempest in a teapot. ¢Copyright. 1936. NEA Service, Inc.)

Fruits and Vegetables

1Quotations below, subject to change, are average wholesale prices being offered to buvers by local commission dealers).

FRUITS—Pears Michigan Bartletts, bu $250 Bananas—Selected, 1 Ib, 5c ADples NO 1 Maiden Blush 2% inches - $1.85: No. 1 (early) Wealthy, 2% Ines up. $1.60: No. 1 Summer Rambo, 2'% ches up, $1.60 Lemons—Sunkist, 380s, $7 Limes—Mexican, carton, 12s, 22%zc; “Persian stedless, per 100, $2.50. Peaches— rtas. 2 inch. bu., $2.25. Plums—Italian runes, 18-1b jug, $1. Grapes—Michigan cords. 4-qt. basket, 25c. MELONS—Cantaloupes — bu. $1.75¢:2; Honey Dews, = $1.75. Watermelons—Home grown,

there-

Home-grown. vine ripened, ka

YEGETABLES—Beans—Round stringiess, . $275 Beets—Home-grown, doz. 25c. “Carrots—Ohio, doz. 45c. Cauliflower—12s, orate, $1.75 Celery —Michigan “washed and trimmed. doz. ~Michigan, bu. 82. Corn—Home- -grown, “dor 25@ 30c. Kale—Home-grown, bu., 85¢. Tettuce—Iceberg. California, 5s, $4.50; leaf, 5 e-grown. I5-1b basket 75¢. Peppers— = s, home-grown, bu. 1.25; peck | “Basket, 50c: doz. 25¢. Mint — Doz. 350c “Omions — Northen vellow, 50-1b. bag. Parsiev — Home-grown, doz, 40c. Peas— Western Tel. hamper. $3 Potatoes—Eastern Cobblers. 100-ib. bag. $2.65. Sweet Pofatoes—Esstern Jerseys, bu., $1.50 Radishes Ohic white, 2-doz. basket, 85c. Doz 45c. Turnips—New bulk, bu. Tomatoes—Home-grown, Y2-bu. bas$1: bu. $1.75. :

Commodity Prices {By Abbott, Proctor & Paine) COTTON NEW YORK

Low Close

- | hens, llc; colored springers, 1% Ibs. and

11. 11.85 Bd YORK COTTONSEED OIL High Low Close

10.33 10.33 10.33 10.31 10.30 10.31

Y Produce Markets

(By Uaseg reat! — Market teady receipts, Septsy ~t Ba graded Bie; extra firsts, 26: dirties, 2lc; checks, 19¢c. receipts, 7520 ite score), 339 ive ease; standards. Bue recei

@l4c. HL daisies, 19

Arrivals, 89: on track, |

| Debits

| Expenses

{ Deficit

Mammoth,.| Tra 60c. Cucumbers |

i of + { Indpls Pwr & Lt Co pid 6les..

Abreast of The Times on Finance

PAGE 12

SATURDAY, SEPTEMBER 19, 1936

$96,792,000.

ermany’s Trade Grows A favorable trade balance of $25,851,000 in August was reported by the German government. August trade exceeded any previous month this year, and for the first eight months, the favorable trade balance amounted to

PRICE ADVANCES OFFSET EARLIER. STOCK DECLINES

‘Many New Highs Reached | as Gains Range Point or More.

{ By United Press

New York Stocks

Transactions were 897,300 shares compared with 494,700 shares last Saturday. Curb sales approximated 204,000 shares compared with 141,000 shares last Saturday. Dow Jones preliminary closing averages, showed industrials, 1 168.93, up 1.17; railroads, 56.36, up .68; utilities, 34.50, up .30.

(By Thomson & McKinnon)

Low. Close. chor.

92% 272

Oils—

NEW YORK, Sept. 19.—The stock | market today scored its third suc- | {cessive gain in’ increased volume. Advances rabged to more than a! point. | The gains of the las{ three days | { just about offset losses sustained in | | the first three, and the market was! + about unchanged for the week.

Greatest activity centered on Com{monwealth and Southern, which rose | {12 point to 3%2 on blocks ranging to 15,000 shares. It is reported the | | company has entered an agreement | { with TVA which will result in profit- | { able operation in the coming year. | ! North American also was active in the utilities, where prices were gen- | erally firm. Practional gains were | noted in Consolidated Edison, Co- | lumbia Gas, Public Service, American Water Works i Power and Light. Western Union rose a point. | American Telephone firmed frac- | tionally in light turnover, Interna- | tional Telephone dipped to 12, off | 4 and equal to its 1936 low. {| Steels, oils, farm equipments, | mercantile issues and rail equipments were in fair demand. Some |of the rails made new highs. Motors { firmed and motor equipments made gains ranging to more than a point.

New Highs Are Reached

Paramount, the most active amusement issue, gained fractionally while its first preferred made a new high at 91%, up 12 points. | New highs also were made by American Typefounders, Atlantic Coast | Line, Lehigh Valley, Industrial Rayon, Crucible Steel, A. M. Byers, Inland Steel, Warren Pipe, International Nickel, International Paper preferred, Pullman, Poor & Co. Mullins Manufacturing B, U. 8S. Leather prior preferred, Shell Union Qil, and Spicer Manufacturing. Steels were higher and moderate active. U. S. Steel was up nearly a point, and Bethlehem more than ja point. Gains in the rails ranged | to more than a point in Atchison. | Westinghouse Electric, = Schenley, | Allis Chalmers, Allied Chemical, Na- | tional Supply, Borg Warner, and Sears Roebuck were up 1 to more than 2 points. Copper and silver shares were { steady. The foreign copper price { held near its recent high, and + traders still feel that a rise in the | domestic price is in the offing.

and Electric |

| i

Money and Exchange INDIANAPOLIS STATEMENT { Clearings $2,412,000 : 6.911.000

. 18,328.000 48,498,000

Clearings for w Debits for week

TREASURY STATEMENT (By United Press)

WASHINGTON, Sept. 19.—~Government expenses and receipts for the current fiscal year to Sept. 17, as compared with a year ago: This Year Last Year $1,414.394,056.02 $1,635, LEY 791.44 966,267,840.50 880,814,868.31 448,126,215.52 754. 359,923.13 2.263,592,837.24 1,912,028,581.35 33.814,829.541.96 29,454,216,984.78 10,766,869,446.84 9,234,560,111.70 84,8235.204.71 83,486,041.82

Receipts ..

Cash bal. Pub. debt Gold res. Customs

FOREIGN EXCHANGE (By Abbott, Proctor & Paine)

Prev. Country

.0858 7/16

Belgium Germany “as Switzerland .. Holland Norway 7 Sweden Denmark 1. 6931

.2262 Canada 1.00 8/100

Local Securitics

(By Indianapolis Bond and Share Corp.)

The following quotations do not represent actual bids or offerings. but merely indicate the epproximate market level based on buying and selling inquiries or recent transactions BONDS Citz Ind Tel (T H) 4s '61...102% ’43....104 ...103% 67 ... 67 Interstate Tel & Tel 5'%s "53 .. 99 Kokomo Water Works 5s '38..104 Morris & 10 Stores 5s '50 ...100 Muncie Water Works 3s '85 «103% Noblesville H L & P .102 Ohio Tel Serve os 41 .100 Richmond w 57 5 Seymour “Water Co 5s ..101 T H Trac & L 5s ’44 108 iTH Wat er Works 5s '58 102 iT H Water Works 5s '49...... 103 ¢ Terminal Co 5s '57....1. 75 Indpls Water Co 3%s ’66 .....101'% STOCHS, ABC Brewing Co. Ta Belt Railroads & Sk Yds. com 57 17 Beit Railroad & Stk Yds. pfd Bs Central Ind Power, pfd, 7s . Home Tel and Tel. Ft Wavne. 521

{ 2s. Inc . 18%; | 1 7s. +106 {Ind Gen Serv Co 6s .. i Ind Hydro Blec &0 Tc i Indpls Gas Co 6s { Indpis Pwr & Lt Co

Indpls Railwav Inc 5s

« 28 . 93% 98 { Indpls Water Co pfd 3 . 102% Nor Ind Pub Serv pfd 5l:s 75 Northern Ind Pub Serv pid 6s 81'2 Northern Ind Pub Serv pfd 7s. 87 Progress Laundry Co.

d 6s

15 ‘ FH

pid . Southern Ind Gas Ta El bia’ 6s 103° Terre Haute Ele¢ Co 6s.. 88 Union Title Co

Produce M hors

(The prices quoted ‘are paid for stock gathered in the country, while delivered in Indianapoliy fhe price is a cent higher.) Heavy br hens 5 ibs. and over 16¢c: under Ibs.. 13c; Leghorn breed iover 1l4c; Leghorn springers. 1 ang over, oi old duck ey whit ig hs and up. Se geese, full teathered. all sizes, gt all 1 Suineas, 12 Ibs. and up. 15¢; old cocks, No. 1 strictly fresh eggs. loss off fo "Each full case must weigh 55 Ibs. gross, a deduction = 10 cents a Pas under 55 Ibs. wil made. No. Juter, 38@3%c; No. 2 35G8360 Butter-

| Sots

i U

| Ygstwn 8 & T. 81%

{| Houdaille

Loco ‘Am Steel

Houston ] Mid Cont

{ Ohio Oil

| Pet Corp Phillips Pet

| Plymouth oll. | Pure Oil 1

| Seaboard oil Shell Un Bkel ley oil

| Tidewater Assn . { Un Oil of Cal

Steels—

{ Am Roll Mills .. Steel 7

Inland Steel ihe Ludlum Steel

{ McKeesport Tin, Sy | Mid Steel Cat "8

Steel 87:1 Steel 18% Rep Iron & Stl 24% Rep Ir & 8t pfd.111% U 8 Pipe & Fdy 523 S Steel . 721% Warren Bros 9 War Pip & Fyd. 30%

Nat 24's 111% 52% 2Y; 9 30'2 81%

M% 812 ~ 28% 80% Motors— Chrysler | Gen Motors 689 Gen Motors pfd..121 Graham Mot .. 2% Hudson «« 17% Mack Truck a 39%

11512 114%

eo iain Studebaker ..... Yellow Truck Motor Accessories— Bendix Bohn Alum Born Warner ...

18%

20% 42 80%4 575s 1338 Budd Wheel .... 1034 Eaton Mig ..... 857s Elec Auto Lite .. 3 42 Elec Stor Bat 4 2 41% Greyhound 543%; 20's 20% 19%; 6412 21%

Murray Body ... Stew Warner Timken Roll ... Timken Det Axle 22% Mining—

Alaska Jun .... Am Metals Am Smelt Anaconda ... Cal & Hecla

Gt Nor Ore Howe Sound ins Copper Int Nickel ...... Kennecott Cop.. McIntyre Mine Park Utah . Phelps Dodge St Joe Lead .... U S Smelters... Vanadium Amusements Loews Inc 1 Radio Corp 107s Paramount 1133 RKO 3 1Ys Warner Bros 3 13%2 Tobaccos—

Am Sum Tob. vee 24% Am Tob “A’.... 99%; Am Tob “pe 101 Ligg & Myers’ BA Lorillard 22% Philip Morris 911, Reynolds Tob“B” 56 Rails— Atchison Atl Coast Lines. B & O

16% 39 827% 405 11% 5312 21% 53% 10% 60 49%, 42 3s 39%, 201% 78

242

6012

24% 99%2 101 105% 22% 911, 56

23% 99 101% 105% 22% 90 56Y3

83 8334 37% 6 26 Can Pacific Ch & Ohio...... Chi & Gt W_pfd CM&StP pid Ch ww .. Dela & Hud Del Lac & Erie Erie pfd Gt Northern ‘pid Ill Central 28 K C South ... Lehigh Valley Lou & Nash . MK&T..... MK&T pHd.. Mo Pac . Mo Pac ntd. . N Y Cen NY Sos Haven Nor Facific 2 Penn R R Reading Sou Pac Soa RR.

ash we De and Equipments— Am Car & Fay.

Am - Fdy..

Pullman Inc West Air Br Westingh Elec. . Utilities— Am & For Pwr. Am Pow & Lie: .

AT Am Wat Wks . Col Gas & Elec. Comm & Sou ... Consol Gas .... Elec Pwr & Lit. Int Hydro Bice. Interboro R

45 S 144%

So Cal Edison.. Std Gas Stone & Webster United opr cen Un Gas Im ‘15 Ut Pwr & TL “AY Western Union.. Rubbers— Firestone Goodrich

U S Rubber ofd. Miscellaneous— Allis Chalmers.. m 291

Am Mach & Fdy 22!2 Anchor Cap ‘a Brklyn Mon Tr. 55% Burroughs Add.. 29% I Case 56 Contl Can 70% Caterpillar Tract 7634 Crown rk 813% Curtis Pub Deere & Co 74 Eastman Kodak 174 Foster Wheeler.. 151d

Glidden .. .. rsoll Rand Int Bus Mach. Inter Harv Natl Cash Reg. . Owens Bottle .. Rem Rand 191% Underwood E Worthngtn Pump Foods— Am Sugar 573% Armour 53 53% Armour 81% Reatrice Crmry.. 2 23 Borden Prod 287% Cal Packin 38% Canada D , Cont Bak Corn Prod Gen Baking Gen Foods Gold Dust Hershey rans Natl Biscuit Nat! D Prod . Purity Bak Std Brands

—

wd ad fn bb 63 wd 3 BD 00 =F oF VDD 1b BD

bt NNDB BR WRNDODHDNDUDOII

-132 .-17

19% 30%

5734 53% 81's

38'a

NEW YORK CHICAGO TORONTO BOSTON SOUTH BEND FT. WAYNE EVANSVILLE

Indianapolis Office

Thomson & a

New New New New New Chicago Stock Exchange. Chicago Board of I'rade.

And other leading Exchanges.

200-214 Circle Tower

York Stock Exchange. York Curb Exchange York Cotton Exchange. York Coffee and Sugar Exchange. Orleans Cotton Exchange.

nnipeg Grain Exchange

LI. 5501

United Fruit Ward Bak “B” Retail Stores——

Allied Btores . Assd Dry 0. x

Best & First Natl Sirs. Gimbel Bros Gm Un Tea .... Kresge 8 8 Groger Groce Yy RH

McLellan St... Marshall Field .. Mont W Natl Tea Safew way St .... Sears Roebuck .. Woolworth Aviation—

Aviation Corp .. Boeing Aircft Curtiss Wright Curtiss Writ “A” Douglas Air .... 17

Sperry Corp Un Alreit (new). Chemicals— Air Reduction .. Allied Chem Col Carbon Com Solvents Pont

Du Freeport Tex ... Monsanto Chem. 68 Natl Dis (new). Schenley Dist . Tex Gulf Sulph. Union Carbide U S Indus Alco.

Zonite nits Frew

Adams Exp Allegheny Corp.. Am Int Corp .... Chesa' Corp .... Lehman Corp 9 Transamerica Building— Am Radiator ... Gen Asphalt .... Int Cement Johns Manville.

1 110

Otis Elev . U 8 Gypsum .... Luen Cons Household—

Congoleum Kelvinator . Proc & Gamble. . Servel Inc 27 Simmons Bed Textiles— Amer Woolen ... Belding Hem Celanese Corp . Collins Aikman.. Gotham Hose Indus Rayon Kayser Julius Real Silk

J-D Adams Asbesto 0s Mix

0 Dh Brothers Cent Ill Pub rrvics Chicago Yellow Cab Cities Service

Continental Stee Gora Cra . Dosen Rubber ....

Electric Household . General Household Godchaux Sugar “AY Godchaux Sugar “B’

Jarvis Mig Ken-Rad

Lincoln Printing Lion Oil Refining Loudon Packing McCord Rad McGraw Electric

Noblitt-Sparks Schwitzer-Cummins Sundstrand

Am Gas & Electric Am General Am Superpower

Atlas Corp” Catlin Cor

Carrier

Crocker-Wheeler Elec Bond & Fisk Rubber

Hygrade Food

Irving Air Cl Lake Shore Mines

Mueller Brass

Pennroad Corp Root Petroleum .. St. Regis Paper Co

Segal Lock Sunray Sonotone

Stutz Motors

Technicolor, Inc

*Bankers Trust *Central Hanover hase .. “Chemical Continental *Guaranty *Irving . *Manufacturers ... National City

*National Shawmut

Franklin Fire Federal Insurance Hanover Fire Hartford - . Home Insurance National Fire

North River ..

*Phoenix .. U 8 Fire ..

*Ex-~dividend.

328 theo

$8. B Sawn, WAYNE,

Col Pal Peet ... I5}s

Ip Canadian J Indust Alcohol or

Long Island Lightin Molybdenum Corp. of

Great American Ins

“hig ner’ ib

RT 106150 bighey Te0.13 ibs., $10: 225 Ibs.

High. Low. a TY iv ly

. 13%2

22s 25's 5% 115 Libby Owens Gls. 67% 273

335s 201% 46

262 38%

8 1415 26% 57 103% 34% 24% 1133

ssnsensenes 302 Advance Aluminum ...

tessa

pid

Commonwealth Edison Consolidated Bisquit

Economical Drug ...

Great Lakes Dredge...

Ark Natural Gas “A.

Creole Petroleum Corp .

Imperial Oil Lo :

Natl Bellas Hess Ins . Niagara Hudson Pwr .

Salt Creek Producers Assn.

Sterchi Brothers Stores

First National ‘Boston

urance.

National Liberty a

Westchester Fire Se

nd.,

Amer.

Close. 1% 4%

12% 207 602

Chicago Stocks

(Bv Atkins, Hamill & Gates)

Prev. Close

16%% 9%

T & L cen Pi mel & Livby.

Nachman Spring Filled....... :

New York Curb

(By Atkins, Hamill & Gates)

Aluminum Co. of America.....

pA 1

Ford. Motors Ganada yay, es 2

Tubize ‘Chatillon COTp +s. ...ss 1

Unlisted Stocks

(By Blythe & Co.) ‘NEW YORK STOCKS

FIRE INSURANCE

*Aetna Fire Insurance 5 *American Ins of New York. Baltimore American .. . City of New York ....

Other Livestock

By Died Press)

Sept. 19.—Hog marto 260 Tbs, S10. r

Calves, $9.50 down. La

Ee 180 Ibs. ger

SWINE MARKET CLOSES STEADY; RECEIPTS LIGHT

Most Cattle Strong to 25 Cents Higher Than Last Week.

Hogs closed the week steady with vesterday’'s slightly improved prices at the Indianapolis Union Stock Yards today with a top price of $10.50. Receipts were 1500, with a holdover of 269. Compared to last week's: close, slaughter steers and yearlings were strong to 25 cents higher, better grade heifers strong to 25 cents

higher, lower grade heifers weak to 25 cents lower, top and lower grade cows strong, and common to medium cows weak to 25 cents lower. On today’s market, 190 to 270pound hogs sold in the highest price |

range, bringing $10.15 to $10.50; 270 :

to 290 pounders brought $9.90 to $10.30: 290 to 300 pounders, $9.65 to $10: 390 to 325-pound weights, $9.30 to $9.90, and 325 pounds up, $9 to $9.65. Other Prices Are Listed

Lighter weights ranged downward from $10.40, 160 to 200 pounders bringing $9.75 to $10.40; 130 to 160pound weights, $8.75 to $9.85, and 100 to 130 pounders, $8.25 to $9. Packing sows ranged from $8.50 to $9.50. With only 50 head of cattle on the market today, fed steers ranged from $8.50 to $9.50; top heifers brought $9.50; the bulk of beef cows $4.25 to

$5, and cutter grades, $3.25 to $4. Vealers were nominally steady.

The lamb market was nominally steady, with sheep Teceipls of 50

‘| head.

HOGS Sept. Bulk Tel Receipts Tar $11.33010 85 $10. 6500 [email protected] 10: 00@10. 35 [email protected] 10.00@10 0:30

18. 19, [email protected] Light Lights— (140-160) Good and Medium Lightwelghis-(160-180) Sood and

16. 17. 10.50 10.50 choice. 4 ne 9.85 50@ 9.50

@10.50 . 10.00 210 90a1e. 40 . [email protected]

[email protected] [email protected]

8.85@ 9.50

Medium Werpaaum (200-220) Good and 1220-250) Good and Heavyweights— (250-290) Good (290-350) Good

choice. choice.

choice.

and choice.

8.000 8.85

8.25@ 9.25 7.25@ 9.00

(275-450) Medium ...cece0. Slaughter Pigs (100-140) Good and choice. Medium

CATTLE —Receipts, 50— Choice : Good ....s Medium ... Common .. (900-1100) Gi

—

PeOOONRVONLDOO © LID OT hI BI = =] BI BI bt CuMIODUMUIOMIND

(550-900)

—

sees

—

C (1100-1300) G

Deano OmanONn BD OCD UNWIN IND OSUMNOO INT Gr On

M (1300-1500) - G

ow co

(550-750) G

-3 wn

Common, medium. Good and choice. .

(750-900) ommon, medium.

$1.3 SN 200 0A

-3 bh wor

od Common ‘and medium Low cutter and cutter Bulls; good Cutter, com. and med. bulk. . Vealers —Receipts, 50— Good 2nd choice ...

00088 ©2930 OLIN LOOD

neo a on NANO D CANO O

3 ©089 9 e938

ooo o o wHD ooo Soo

cull pe) common ..... Calves (250-500) Good and choice..$ Common, medium. Feeder and Stocker astle (500-800) Good and choice. . $ 6. Com. and medium 4. (800-1050) Good and choice.. 6.

3-1 300 ow oo

93 20

San -3 woo Koo

“» ad 28 833

ow oh oN ow

Common’ and medium

SHEEP AND LAMBS —Receipts, 50— Lambs— :

CholCe «..ivvinvnsiivans

S90

Wes— 190-170) Good and choice Com. and medium. a Sheep and lamb quotations

Subs wus

ron ©

Other Liv Livestock

(By United Press)

CHICAGO, Sept. 19. — Hogs—Receipts, 2200, Cine 1500 directs; ry So quotable top, $10.60; weights under 180 ibs, and sows oak to unevenly lower; several loads good to low choice, 160-175 Drs Daas sy So Agee: medium io ragin, - pers took 500. gg Bn 93.15; sap Cattle—Receipts, 2400; calves, receipts, 200; market, steady; compared with i day last week; yearlings unevenly 25@40c higher; better grades being strong to 25c higher; in-betweens, 25@ up; heifers showed full advance; cutter cows, 25¢ lower, beef cows weak: bulls strong and vealers, 50@75¢ lower: more than $1 under week's high time; best yearlings and medium weight steers, $10.35, new high on gop: best '1400-1b. average, $10; 1580 Ibs. to $9.60, and 1700 lbs., $8.65; 917 lbs. os Bh steers, $8.65 to country; bulk fed cattle, $9 SPR ards; bulk stockers and feeers, $5.25@ Sheep—Receipts 4500; market steady, compared with Friday last week: fat lambs, 25@40c or more higher, aged sheep weak to 25c¢ lower; better grage feeding lambs, firm; week's lamb top, $ late for both native and western wh closing bulk good to choice westerns, $9. ki 10; most natives, $9.75 down; week's slaughter lambs, $8. 15; @335 Er a» =. a 83 innghier ewes, oy .25; hy ambs [email protected]. P ?

Safe Deposit Boxes The Indiana National Bank of Indianapolis

Real — Mortgages

CAPITA

SURPLUS

GAGE LOANS ON PREFERRED INDI PROPERTY. CALL AND SEE US ABOUT LOW INTEREST RATES AND LIBERAL TERMS. NO COMMISSION.

THE INDIANA TRUST

WE SOLICIT APPLICATIONS FOR FIRST MORT-

ANAPOLIS PAYMENT

Company for Savings

$2,000,000.00

New York Bonds

DAILY BOND INDEX (1926 Average Equals 100)

U. 8. GOVERNMENT BONDS (By Abbott, Proctor & Paine)

Close Treasurys

srsecanessancese sdeasssassnnne cress sasasaran tesesenssarnene Secsaadscnirnane EE

Yas as 1955-60

Home Owners Loan Corp. 1042-44 ,........ “rae 102 1949

Federal Farm Mortgage Corp. 1949 ...oiiiirnaiianey 303.27

DOMESTIC

Atl Coast Line 4los 9 Atch Top & 8

& Ohio 4's '60 . iss Buff Roch & Pitt 4%s '57 ... Beth Steel 44s 60 ° hi Milw & St P 5s '75 Chi Milw & St P 5s 3900. . Cleve Un Term 4! vas "17 . Col Gas 3% May '52 ‘61

4{ Colorado & So 4's '80 Chi & Nor West 2s 49” Con Gas 4Ys ’'51 Chesa Corp 5s '47 .

Grt Northern “gr 4s 48 Grt Northern “H" 4s ’46 . Grt Northern 4lbs ’77 Gen Stl Cast WW 514s '49 . Hud & Manhat Ref = nT... Ill Cent 434s ’66 Ill Cent Jt 4Y2s 3 . Ill Cent 5s ’63 Interntl Hy Elec 6s '44

Interntl Tel & Fer 4%s '39.... 81%

(By Lyons & Co.) Bid Allied Stores 5'%s ’51........ Arkansas Gas 4s ’5

B Yas Beth Qteet 3s 66 |. Cal Oregon Power 4s 66 Central Maine 4s ’'66 Central Ill 3Y%s Quincy Gas & C & O E 3%s '96 Chicago West In 412s ae Chicago Un Station 30ks ’15...10 Cleveland Tractor 5s '45. ..100 Columbus Railway 4s ’65. Com Invest Tr 3ias ’51 .. Conn River Pr D & L 3% Consolidated "Oil 3's Cudahy Pkg £4 5 Cudahy Pkg 4s ’50. Edison Illum Boston 3s ’65..108 Gen Motors Ac Corp 3s '46 .. Gen Motors Ac Corp 3'as '51.. Indianapolis Worn 3128 ’66.. Iowa South Utilities 5%s ’50.. Kansas P L 4Y%s ’ Los Angeles G & E Jouisville G

Natregansets Bes 32s '66.... Y Chi St Louis 4s '46 New York Edison 4s ’66 Okla Natural Gas 42s ’51.... 98 Okla Natural Gas 5s Pacific Ligntine 415s RR 3% '70....

Penn Tel 4s ’65 Potomac El Power 3s ’66.. Pub Serv N H 3% Railway Lite 4Ys Sagueney Power San Diego G & L Southern Cal Gas 4s '65. Southern xen 4s '46.. So West G B '60 Wisconsin Gas & E 3s '66 Wisconsin Pub Serv 4s ’61.

N i

BUY

(Copyright, 1936, by Standard Statistics)

colse

103.19

103.24

Prev. close 983%; €9 113% 111%, 983% 10172 80%, 110 ‘a 116 903%; 102s 80 903% 104%% 2234

734 10334

New Bond Issues

Interntl Tel & Tel 5s '55 Interntl Tel & Tel 4'3s 2 Lenigh Valley 4s 2003 McK Robb 5's ‘50 ..

Nor Pac 6s 2047 New Ofjeans Term 4s '55 ..... 9 Otis Steel '41 Penn Ry A 81 . Penn Ry 3%s ’70 Pac G E 5s 42 ... Portland Gen El 414s wo eens

eee GY 56 <.ei aaen.- 98

Rail 6'2s Texas Pac 5s '79 Texas Pac 5s 77 Third Ave Adj 5s 80 Union Pac 4s '47 United Drug 58 ’533 .......... U. 8 Rubber 5s '47 NY NH & Hart 6s '48 NY NH & Hart 4las Warner Bros 6s ’39 . Youngstown S & T 4s Youngstown 8 & T 3's '51. FOREIGN Australia 4%s ’56 Brazil 8s 41 .. Denmark’ 4las French Tles '41 German 5'2s German Ts

’81.. ‘103% 130

Building Permits Charles Klasser, 455 Highland-dr, Carl Wilde, 3864 Guilford-av, $380

E. L. Weir, 2340 Park-av, stoker, Frank Walters, 732 8. Illinois-st,

Albers Smith, 4906 Kenwood-av, saat! Rodgers, 812 N. Grant-st,

Ralph h E. Lund, 209 N. Oakland-st, stoker Witham H. Herbst, 1519 N. Dearborn-st,

stoker, $249. bur G. Headrick, 8042 Westfield-blvd, as C. Savior, 5740 N. Kenwood-

Stoke. $295. ar. . W. 4451 Washington-blvd, stoker, $475. Indianapolis Star, 311 N. Pennsylvaniast, Jepsiss $10,000. Pred Schatz, 2623 Roosevelt-av, repairs,

50. Aberdeen Realty Co., 6135 Delaware-st, garage. $200; dwe 88. $5000. Ww. NT 6360 BH. St. C Sonnsion, 138 N. Sheffield-av, addi-

334 N. Fulton-st,

Railroad Bldg. and Loan Co., 4142 N. Meridian-st, electrical, $150. : Standard Oil Co., Tibbs-av and Washing-ton-st, electrical, $100 . Washburn, 902 "N. $100.

shed, stoker,

$285. stoker,

stoxer,

stoker,

av. Clever,

Joe-st, electrical,

tion, Union Wrecking Co., wrecking, $100.

Lesley-st, elec-

trical,

NEW QUARTERS LEASED

Lease of the salesrom at 3839 E. Washington-st to Brown and Schreckengost, Inc, Studebaker motor car and truck dealers, has been announced by W. A, Brennan, Inc, local property maangement agency. The firm is to move from temporary quarters at 2957 Central-av.

OTHER CASH GRAIN CHICAGO CASH GRAIN (By United Press)

CHICAGO, Sept. 19.—Wheat—No. 2 hatd, dark, $1.26; No. 4 hard, $1.16. Cor Lake billing: No. 5 rellow, 3 1634 @1. 17; No. 2 yellow, $1.16%;; No. 3 yellow, a 16% No. 4 yellow, $1. 15% @1. 16; No. 5 yellow, $1. 15Ya. Illinois porportional: No. 5 mixed, $1.1734; No. 2 yellow, $1.1734: No. 2 white, 2: No. 3 white, Oats— 46@48¢c; No. 2 white, 45@ Bae

ley—Sales, malting, $1. 13021. 46 “Eominal seed, $5.90 6.15; new. [email protected]. 122. ‘Sov beans—No. 2 yellow, y Cash provisions—Lard, s : loose, $11.05 asked; leaf, $11. 50; bellies, $13.25 asked. TOLEDO, Sept. 19.—Grain close: In elevators, transit billing. Wheat—No. 2 red, [email protected]. Corn—No. 2 yellow, [email protected]. Oats—No 2 white, 49@50c. Rye—No. 2, 93% @946¢c. Track prices. 24%c rate. Wheat— 1 red, [email protected]; No. 2 red, $1.11@ 12,

easy .

«+ « build

creasingly scarce. up another 109%.

Have you outgrown your present home? Do you desire a more modern one, a larger one, a more beautiful one Buy .. or trade. Own the kind

of home you need and wish for. The |

home payment makes home owning .". and now is the ideal time to BUY. Good homes are becoming in-

like to have. He will not only help you find that home, but will make its purchase possible with a long-term loan.

MARION COUNTY

Prices will soon go Tell a Saving and Loan officer about the home you would

FOREIGN MARTS STEADY CHICAGO GRAIN FUTURES

Prices Up Fractions After Earlier Profit-Taking Causes Drop.

By United Press CHICAGO, Sept. 19.—Relative firmness in foreign markets set the pace for wheat futures on the Chis. cago Board of Trade today. Prices were up slightly at the opening here on a moderate volume of, buying induced by the fact that Liverpool market did not fully reflect the decline in North American markets yesterday. The early gains were erased later by profit-taking sales, but prices turned upward at the close behind the lead of the Winnipeg market. At the end, wheat was une changed to up 4 cent, September, $1141; corn was off 3% to up 1 cent, September, $1.15; and oats were off 3: to up ’s cent, September, 423; cents. Favorable reports on the European grain situation, which indicate that Winnipeg will be the controlling factor in world markets for some months to come served to check selling pressure in the Canadian market and induced a small volume of buying. Prices at Wine nipeg closed with fair gains. Liverpool - finished % to % cent lower, and Roterdam closed une changed to 7% cent lower. Neither of these markets, however, reflecte ed fully the decline here yesterday, due to the absence of pressure from Argentina and Danubian countries,

CHICAGO GRAIN RANGE (By United Press)

sh Close.

4 14% 1.13 1.12

1.13 952 80

sssssses

Oats— Sept. ceccceene DEC. sevssesns May .. Rye— Sept. cevesnnns

sesvesass

42% 42%

11.57 11.45 1170 11355 n Nominal.

11.60a 11.70 Det x Asked.

CHICAGO PRIMARY RECEIPTS

Bushels Today Last Wk,

£1sieesennnrreene 4504 512,000 312,000 151,000

INDIANAPOLIS Whedt~Market. pasy: Recelnis. 3 care Joads; No. $1.09; No. 2 red, $1.08'23 Nod 51 diata: Ko, 2 hard, $1.11, Corn Market, weak: Regoipts 11 garlonds; i [email protected]; No. “ite, . 4; . 4 white, $1.1951 22: No. 2 yellow, [email protected]; No. 3 yellow, 19 .09; No. 4 yellow, $1.03@ mixed, [email protected]; No. 1.0612: No. mixed, $1.022@1. 041% Ri arket, steady: Receipts, 14 carloads; No 2 white, Baan. No. 3 white, 41%

VOCAL CASH MARKET

City grain elevators are paying $1.06 for No. 1 red wheat. Other grades on their merits. Cash corn, new No. 3 yellow, $1.03; oats, 36c. Hay—No. 1 timothy, $14.50@15; No, 1 clover, [email protected]; No. 1 alfalfa, first cutting, $14.50@15; second cutting, $16@17.

1 NEW HOME

modern Saving and Loan method of:

A LOAN will placs you in a home of your own. A LOAN will modernize your prese ent home. ENJOY. your home . . . make it more valuable . , & Do it now before prices are higher.