Indianapolis Times, Volume 47, Number 261, Indianapolis, Marion County, 9 January 1936 — Page 24

Trends All - Steel Houses Being Built at Ohio Plant. .RALPH HENDERSHOT

NEW YORK, Jan. 9. The American Rolling Mills Cos. has begun fabrication of 100 allsteel houses at its Middletown <O.l plant, according to dispatches. They will cost approximately $350,000 and will sell from $3500 to $5500 each. The importance of this news hardly can be over-estimated. The

step may result in the opening up of an entirely new field for the steel industry', and it is such dev e 1 opments that trade recoveries are built. Much has been said of p refabricated steel houses in recent months, but this seems to

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Hendershot

be about the first indication that the idea is getting out of the talking stage. If successful, there is no telling how far it may go or how much new business it may produce. Housing facilities are badly needed in every section of the country. Very little building has taken place in the last five years, and a great many houses have outlived their usefulness during that time. Lack of repair work has helped along their deterioration. e tt a /"''HEAP, good houses should prove as popular at this ,ime as Ford automobiles have been in the past. Prefabricated steel constructioft may prove the answer. If it does, the steel companies should enjoy vpry profitable times in the next few years. It is encouraging that the large corporations have taken an interest in the subject of housing. They should be in a position to give more for the money than private individuals. And they shonld be better able to arrange the proper sort of financing. If the business is taken out of the hands of private speculators and placed with well-managed large corporations it should be better for all concerned. BUILDING CONFERENCE TO BE HELD IN CITY Experts to Study Construction of Modern Homes. The extent to which house styles have changed is to be discussed by building experts at a conference in the Claypool, Jan. 15, to study present trends in home building. The meeting is to be sponsored by the Portland Cement Association. Architects, contractors, building and loan officials, real estate developers, and other professionally interested in housing are expected to Rttend the session. Scores of pictures of firesafe. termite-proof concrete houses built in recent months are to be exhibited. The principal discussion at the meeting is to be centered around the question how builders are going to satisfy the popular demand for firesafe, termite-proof homes at a price within the reach of the family in moderate circumstances. STOCK TO BE CALLED Time* Special NEW YORK. Jan. 9 —Directors of the Allied Chemical and Dye Corp. have voted to call the company’s preferred stock for redemption on Feb. 14 at $l2O a share and accrued dividends, it was announced today. On Commission Row Quotations below subject to change are average wholesale prices being offered to buyers by local commission dealers: Fruit —Cranberries. C. C. Hames, Eatmores, 25-lb. boa. $4.50. Pears —Washington D'AnJo. $.1.25. Calif, avacados, $3.75. Bananas—Seven hands, a pound, 5Us. Persimons—California, lug. $1.25. Apples — Jonathans. $1 60. Delicious, $1.75; wealthvs, $1.25; Grimes Golden, $1.25. Lemons —Sunklst, 3605. $7. Grapefruit—Texas, 61s to 70s, $3.50. Arizona Sunkist. $2.50. Limes—Mexican, a carton 12s, 22c. Grapes —Emperor, lug, $2; fancy Emperor, 34-lb. sawdust chest. $4. Vegetables—Beans, green, round stringless ou., $2 50. Beets—Texas. 3-doz. crate, $1.75. Cabbage—New York Danish, 50-lb. bag. 75c. Cauliflower—California, crate, $l9O. Celery—Michigan, washed and trimmed. 16 stork hunch. 55c; jumbo, doz.. 85c. Cucumbers—Southern, bu., $6 doz., $1.15. Kale—Virginia, bu., 90c. Lettuce grown leaf, 15-lb. basket. $1.60; Endive— California. basket. 85c. Mangoes— Florida, crate. $5.50; small basket, $1.40. Mint—Bunch. 20c. Mustard—Home grown, bu., 60c. Onions —lndiana yellow. 50-lb. bag. $1.15; Indiana yellow, 10-lb. bag, 25c. Parsley— Southern, doz.. 50c. Peas—Telephone, hampers. $3.25; Texas hampers. $2.50. Potatoes— Round Cobblers. 100-lb. bag. $1 60; Michigan Round White. 100-lb. bag. $160; Early Ohlos. bu.. $1.80; Idaho Russets. $2 35. Sweet potatoes—lndiana Jerseys, bu., $1.65. Radishes—Ohio, button, doz.. baskets, 45®60c. Sage—Doz., 45c. Spinach —New Texas, bu.. $1 15. Squash—Bu., $2.50. Tomatoes- Florida, 10-lb. basket. $1.35. FRUITS AND VEGETABLES (Bv United Presst CHICAGO. Jan. 9.—Apples. Michigan Mclntosh, bushel. $lO 1.50. Carrots—lllinoi,-. bushel. 3035 c. Sweet potatoes Tenneesee. bushel. 85 i 9oc. Beans Florida, bushel. $2.50*/4. Cabbage—Sacks, per cwt., $14(1.25. Peas—California, bushel hampers. $2,354/3.25. Spinach— Bushel, 75c® $1.15. Lettuce—Western crates. 5 doz. $1.50® 2.35. Cucumbers Cuban bushel. $24/440 Celery—Michigan, square crates. 50c® sl. Cauliflower California, crates, $1 25*5 140 Tomatoes— Mexican, lugs. $1.7545 2.50. Onion market 1 50 lb. sacksi Western Valencias. $1.35. Illinois yellows. 50c @sl Michigan yellows. 75c@$l. Indiana yellows, $lO 1.10. Produce Markets The prices quoted are paid for stock fathered in the country, while delivered n Indianapolis the price is a cent higher Heavy breed hens. 18c; leghorn breed hens. 14c; leghorn springers. 12c. old stags. 14c; old cocks, 9c. Ducks, white. 5 lbs., and over. 11c: under 5 lbs.. 9c: geese full feathered and fat 9 to 14 pounds. 10c over 14 lbs.. 9c All guineas i% lbs and up. 20c. Turkeys—Young hens. 8 lbs. and up. 20c: young toms. 14 to 18 lbs.. 17c: under 14 lbs and over 18 lbs.. 16c: old hens, 17e; old toms. 14c. No. strictly fresh eggs, loss off. 20c: pullet eggs. 12c. Each full case must weight 55 lbs gross, a deduction of 10 cents a pound under 55 lbs will be made. No. 1 butter. 37%® 38%5; No. 2. 34%®33% Butterfat. 34c. Quoted by the Wadley Cos. tßv United Press! CHICAGO. Jan. 9 —Eggs-Market stendv: r'ecipts. 62.'0 cases; fresh graded firsts, 23 %c; extra firsts. 24c: current receipts. 22%c: dirties. 18%c: checks. 17c. ButterMarket. weak; receipts. 6903 tubs extra firsts 190-91 1 z score i. 32%f133c; extras 192 score*. 33%c- firsts /88-89% scotv*. 31%c; seconds <B6-87 1 score . 31c: spe rials 33%® 34'c; standards. 32%c. Poultry Market, steady: receipts. 1 car. 27 trucks. 1 car due: ducks. 18*/23c: geese. 144/15c: spring chickens. 20®21%c; hens. 214522 c; turkeys. 18®22c: L*egh<-- r n hens. 13*517c; old rooaters. 16c Chets- —Twins, 17%w 17%c; daisies, 18flT8‘c: Longhorns. 18*/ 18' <c. Dregsed poultry—Turkeys, young toms. fT®Jß>'; young hens. 28c; ducks. 22 23c; geese. 194520 c Potatoes —Supply moderate; demand light: market. firm. Idaho Russet Burbanks. $1,854/ 1.25; U S. No. ?. $1.35; Wisconsin round whites, sl.lO ® 1.28: Colorado McClures. $142%® 1.60; Wyoming Bliss Triumphs. $1.30 Arrivals, 41", on track. 165; shipments, 567,

♦ Albreast of The Times on Finance ♦ ♦

PAGE 24

TRADE FUTURE BEST SINCE ’2B, FIGURES SHOW Business Is in Position to Increase Profits, Says Economist. BY A. L. JACKSON Vice President, Standard Statistics, Inc. NEW YORK. Jan. 9.—Business activity avereaged 12 per cent higher in 1935 than in 1934. In the course of establishing this gain there were no maladjustments created and some significant corrections were made. Thus the record is even more impressive. Total demand 'domestic consumption and exports) has increased steadily since October, 1934. Taking the period from 1923 to 1925 as 100, demand has increased from a low of 63 per cent, reached in September, 1934, to a high of 85.3 per cent, reached in October. 1935, and for November, latest month for which data are available, registered 83.9 per cent. Inventories Decline New supply, (domestic supply and imports) rose from a low of 63.9 per cent in October, 1934, to a high of 86.9 per cent last November. Inventories of total raw and finished goods declined from 136.9 per cent, registered in September, 1934, to a low of 99.6 per cent, recorded in August, 1535. While there has been a slight increase in inventories during September, October and November, 1935, the gain has been small and apparently of a temporary nature. Inasmuch as this gain was due to a heavy movement of agricultural crops during these months, and it is known that the total supplies of these crops are small, it appears as though further liquidation in inventories can be expected in the near future. Best Fosition Since 1928 As inventories were reduced commodity prices increased, rising from a low of 67.7 per cent in November, 1934, to a high of 75.9 per cent, established in November, 1935. It is also important in this connection to note the gain in purchasing power, which rose from a low of 73.4 per cent in November, 1934, to a high of 87 per cent in the same month last year. Thus we find that business activity has made an increase of 12 per cent in volume and at the same time has gieatly corrected its statistical position. We have not entered anew year with a stronger statistical position in industry since 1928. WESTINGHOUSE FIRM HAS GOLDEN JUBILEE Local Employes Celebrate Fiftieth Anniversary. Fiftieth anniversary of the founding of Westinghouse Electric and Manufacturing Cos. was celebrated last night by more than 80 local officials and employes at a dinner at Whispering Winds. The golden jubilee was held simultaneously with similar observances at which 40,000 employes of the company in the United States and foreign countries paid tribute to George Westinghouse, founder, who died in 1914. Feature of the Indianapolis meeting was the reception of short-wave radio addresses from Pittsburgh by A. W. Robertson, chairman of the board, and F. A. Merrick, president. A brief outline of the pioneering accomplishments of the Westinghouse organization was presented by W. J. Morgan. Indianapolis division manager. “New Frontiers,” a sound motion picture dramatizing the company’s contributions to industrial progress, was presented following the dinner. R. L. Brown. Indianapolis manager of the Westinghouse Electric Supply Cos., presided. CELOTEX EARNINGS RISE Net Profit for Fiscal Year Ended Oct. 31 at $221,215. Times Special CHICAGO. Jan. 9.—The Celotex Corp.. which was reorganized Nov. 1, 1935, from the Celotex Cos., today showed a net profit of $221,215 for the year ended Oct. 31, 1935. before provision for services of trustees. A net loss of *192.689 was reported in the fiscal year ended Oct. 31, 1934. The company, reorganized under Section 778 of the bankruptcy act, reported net sales of $5,660,749. against $3,914,390, and operating profit of $816,072, against $375,369. Trustees for the corporation are. Colin C. Bell and William T. Allen. Busigraphs VALUE OF" ALL LISTED STOCKS I ON N.Y. STOCK EXCHANGE ON DECEMBER FIRST t F : (N.Y. STOCK EXCHANGE) IA fffl E 3 m O 40 - 1 ; I l m im 111 I 9 20 !_!Lm-I --| I i o< JL.I 1..1 till hi lull. I THE PARKER CORP. GENERAL DISTRIBUTORS INCOF“ORATED INVESTORS : Fourteen billion dollars gained in eight months! That is the tremendous increase in the quoted va/ue of all listed stocks on the New York Stock Exchange, while during the year the value went up 33 per cent. But more than that—only a small proportion of our securities are listed on the “Big Board.” When we consider the increased value in securities on o.her exchanges and “over-the-cdunter.” the paper increase in our national wealth last year m?y wel’. prove a record.

INDIANAPOLIS, THURSDAY, JANUARY 9, 1936

WEEKLY \KD*X OF BUSINESS TREND PREPARED BY ADMINISTRATIVE AND RESEARCH CORPORATION . NEW YORK • 1926 - 100 100 p-r/ lIMMIIIIMI IIMI. I; I I I rTTriTirru i ,t m ;i i 100 60 I [ -i / 80 — *?v / -fr f~i [WV- i fi \, s, \ / 1 60 i— L \ \-f- 6o UO 11 1 II I II Ii I! I 1j t I l-t-I M l 111/I1 ! ; ■ 1 I 1I:1; ■:1 *0 JAN. FEB. MAR. APR. MAY JUNE JUtY AUG. SEP. OCT. NOV. DEC.

During the last week of 1935 business activity succumbed to holiday and year-end influences and the Administrative and Research weekly index of business trends declined to 81.3, compared to 88.1 for the preceding week. The current level, however, was well above the corresponding 1934 figure of 61.1.

G. M, DECEMBER SALESATPEAK Month’s Total Is 185,698 Units; 1935 Reported Best Year Since ’29. By United Press NEW YORK, Jan. 9.—General Motors Corp., biggest automobile company in the world, today reported its best December on record and 1935 as the best year since 1929. j Total sales, including Canadian i and overseas shipments for Decern- I ber, were 185,698 units, the best j month since July, 1929, when sales j were 189,428. It was the first time in the company’s history that December sales crossed 100,000. For the year 1935 total sales were 1.715,688 cars and trucks, a gain of 38 per cent over the 1,240,447 sold in 1934. That total was exceeded only in 1928 and 1929. In the latter year the record was set at 1,899,269. FORD OUTPUT IN 1935 PASSES MILLION MARK World Production Shows Increase of More than 56 Per Cent. Times Special NEW YORK, Jan. 9.—World production of Ford cars and trucks during 1935 amounted to 1,335.865, compared with 855,037 units in 1934, an increase of more than 56 per cent, according to an announcement made today by the Ford Motor Car Cos. Production of Ford units in the United States and Canada during the last year totaled 1,272,885 units, an increase of 557,447, or more than 77 per cen.t over the total of 715,438 units produced in the preceding year. The announcement recalled the prediction mad& by Henry Ford more than a year ago that he would produce “better than a million” units during 1935. Chicago Stocks lE*v Abbott, Proctor & Paine! 11:30 Prev. A. M. close. Berghoff 8 8 Butler 7% 7*i Chicago Corp 5Vi 5Va Conti Steel 41 41V 2 Cities Service 3% 3% Com Edison 102 102 Cord 7% 7% ’ Crane 22V 28 Elec House 18% 18% Gen House 3% 3% Grt Lakes Dredge 31% 30% Libby • 10% 10 % Lynch Glass 37 35% Noblitt Sparks 31% 31% Perfect Circle 38% 39 Quaker 135 137 Swift 24 24 V 8 Swift Int 33% 33% New York Curb (Bv Abbott. Proctor & Paine! 11:30 A.M. Prev. N. Y. close. Alumn. Cos. of Am. 90 89% Am Cyanide "B" 32% 32% Am Superpower 33% Atlac Corp 13% 13 Axton Fisher Tob 54 54% Can Indus Ale .“A" 10% 10% Carrier Corp 11% 11% El 80-.d & Share 17% 18% Fisk Rubber 7 7 Ford o' Europe ST/ 8% Glen Aldon Coal 16 Hiram Walker 32% 32% Imperial Oil Ltd 20% 20% Lake Shore Min 52% 52 Newmont Min 75% 74% Nia Hud Pwr 9% 9% Pan Am Airways 47'/- 48 Penn Road 3% 3% Unlisted Stocks * (Bv Blvth & Cos.! Bid. Ask. Bankers Tsust 69% 71% Central Hanover B & T 121 123% Chase 47 48% Chemical National 58% 60% Guaranty 322 326% Irving 19% 20% Manufacturers 53 55 C'ont 111 /Chicago) 130% 132% First National of Boston 49% 51 Natl Shawmut 30% 32% FIRE INSURANCE Aetna Fire 64% 67 Citv of New York 31 33 Federal Ins 103 109% Franklin Fire 36% 38% “Great American Ins 30*8 32% Hanover Fire Ins 40% 42% Hartford Fire Ins 89% 92 Home Ins 41% 43% Ins Cos of N A 79% 81% National Fire '9 81% North River Ins 29 31 Phoenix Insurance 107% 110% U S Fire 57’* 59% Westchester Fire 39% 41% •x. div. TREASURY STATEMENT By United Press WASHINGTON. Jan. 9—Government expenses and receipts for the current fiscal vear to Jan. 7, as compared with a year age: , „ This Year. Last Year. Expenses. $3,897,166,080.37 $3,676,556,575.39 Receipts 1.964.484.776.86 1,920.610.665.23 Deficit 1,932.681.303.51 1.756,945.710.16 Cash bal 2.189.868.170.69 2,524,431.265.08 CHICAGO FUTURES RANGE /By James E. Bennett & Cos.! 11:00 Prev. Wheat— High. Low A. M. close. ; Mav 1.02% 101% 1.01% 1.02% i Julv 98% .88% 89% .89% Sept. 87% .87% .87% .87% Corn — I Msv 61% .60% .60% .61% i July 62 .61% .61% 62 ; S;pt 62% .61% .61% .62 Oats— Mav 28*8 .28% .28% .28% l July 27 s * .27% .27** .27% Sept 27*8 .27% .27% .27% Rye— May 54% .54% .54% .54% July 54% .54% .54% .54% LOCAL CASH MARKET City grail* elevators are paying 97 cents for No. 2 soft wheat. Other grades on their merits. Cash corn new No. 4 yellow 48 cents and oats 18 cents.

N. Y. Bonds (Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds Rails Utils Bonds Todav 92.0 86.5 104.3 94.3 Yesterday 91.9 86.1 104.4 94.1 Week ago 91.4 84.3 103.6 93.1 Month ago 91.4 83.7 103.4 92.8 Year ago 86.8 86.4 90.4 87.8 U. S. GOVERNMENT BONDS (By Abbott. Proctor & Paine.) Trcasurys Prev. Close. close. 4%s 1947-52 ...A 115.9 115.19 4s 1944-54 111.5 111.8 3%s 1940-43 107.30 108 3%s 1941-43 108.8 108.10 3%s 1943-45 106.1 106.21 3%s 1941 104.23 108.27 3V*s 1944-46 105.21 105.22 3%s 1946-48 103.30 102.31 3%s 1949-52 103.30 104.1 3s 1951-55 103 103.2 3s 1946-48 102.31 103.1 2%s 1955-60 100.7 100.8 2*is 1945-47 101.6 101.6 Home Owners Loan Corp. 2%s 1949 99.27 99.30 3s 1952 101.7 101.8 Federal Farm Mortgage Corp. 3Us 1964 102.24 102.28 7s 1949 101.13 101.18 3%s 1947 100.20 100.18 DOMESTIC Prev. Issue. Close, close. Alleg Corp 5s ’44 90% 90 Alleg Corp 5s '49 85 85% Alleg Corp 5s ’56 55% 54Vi Am Frg Pow 5s 2030 72% 71 Am T & T 5%s ’43 114 113% Am T & T 5s ’65 113% 113% Arm & Cos (Del) 5%s ’43 96% 96 Atl Coast Line 4s ’52 99% 98 % Atl Coast Line 4%s ’64 87*4 86 Atch Top & S Fe 4Vis ’4B 110 110 Am Wat Wks 5s ’44 116% 117 Am Rolling Mills 5s ’3B 129% 128 Balt & Ohio 6s ’95 87% 87 Balt & Ohio 4%s ’6O 64% 64% Buff Roch & Pitt 4Vis ’57... 68% 68Vi Chi Milk &StP 5s ’75 22% 22 Chi Milw (fe St P 5s 2000 8% 8% Cleve Un Term 5s ’73 101% 101% Cleveland Un Term 4 Vis ’77 .. 98 96% Col Gas 5s May ’52 101 100 Col Gas 5s ’6l 100% 100 Can Pac Perp 4s 88V> 88 % Cent Pac 5s ’6O 90% 90% Big Four 4Vis ’77 80Vi 79% Colorado &So 4 Vis ’BO 64’% 63 Vi Chi & West Ind 4s ’52 100 100% Chi & Nor West 4%s ’49 13% 12% Con Gas 5s ’57 105% 105% Chesa Corp 5s ’47 120 120 Del & Huds 4s ’43 79% 79 N Y Dock 4s ’sl 68’* 67% N Y Dock 5s ’3B 58% 58% Erie 5s ’75 72Vi 71% Erie 5s ’67 72% 71% Grt Northern 7s ’36 102% 102** Grt Northern 4 1 is ’76 99% 9’;% Grt Northern 4%s ’77 98’i 98% Gen Stl Cast WW 5%s ’49 ... 91% 89U Hud & Manhat Ref 5s ’57 .... 83% 82% 111 Central 4%s ’66 65% 66 111 Cent Jt 4Vis ’63 71% 7U% 111 Cent 5s ’63 76 75% Interlake C & I 5s ’sl 90 90% Inter Hy Elec 6s ’44 53 1 i 52% Inter Tel * Tel 4%s ’39 89% 88% Inter Tel & Tel 5s ’55 81V* 80% Inter Tel & Tel 4%s ’52 78 76% P Lorillard 7s ’44 131% 131% McKess % Rob 5%s ’SO 102% 102% Nat Dairy 5%s ’4B 104% 104% Nat Steel 5s ’56 105 1 > 106 Nickel Plate 4%s ’7B 74% 74% Nickel Plate 5%s ’7-1 37% 86 Nickel Plate 6s ’35 100% 100% N Y Cent 5s 2013 82% . N Y Cent 4%s 2013 (old) 77 76% Nor Amer Cos. 6s ’6l 104% 104% Nor Pac 3s 2047 75 75 Nor Pac 4%s 2047 97 95% Nor Pac 6s 2047 108% 108 New Orleans Term 4s ’53 .... 84% 84Vi Penn Ry 4Us ’B4 106% 106% Penn Rv 4%s ’Bl 106% 106V4 Penn Ry 4%s ’7O 101 100% Pac G & E 5s ’42 104% 104% Portland Gen El 4’is ’6O 75 74% Para Pubiix 5%s ’SO 04'% 93% Fenn P & L 4%s ’Bl 106' 2 106% Postal Tel & Cab 5s ’53 36% 36% Shell Union Oil 5s ’47 103% 103% Sou Pac 4%s ’6B 79% 78*8 Sou Pac 4%s ’Bl 79% 78% Sou Pac 4Vis '69 79% 79% Sou Pac 4s ’49 82% 80% Sou Rail 4s '56 58',* 58 Sou Rail 6s ’56 75 73% Sou Rail 6Vis ’56 77% 76 Sharon Stl Hoop 5%s ’4B 103 103 Texas Pac 5s ’79 98% 98% Texas Pac 5s '77 29% 99 Union Pac 4s '47 112% 112V* United Drug 5s ’53 99% 10u% U S Rubber 5s ’47 109% 104 NY NH * Hart 6s ’4B 35 34% NY NH A- Hart 4%s ’67 33% 32% Warner Bros 6s ’39 88 86% Western Mary 5%s ’77 107% 107 Western Marv 4s ’52 97 96% Youngstown S & T 5s ’7O 105 104% Youngstown S & T 5s ’7B 104% 104% FOREIGN Argentina (A) 6s ’57 98% 98% Argentine <B) 6s ’SB 98% 98Vs Denmark 5%s ’55 102% 102% German 5%s ’65 28% 27% German 7s ’49 38 38% Rome 6%s ’52 55% 55 Tokio City 5%s ’6l 81% 80% Yokohama 6s ’6l 86% 86% Other Livestock (By United Press) CHICAGO. Jan. 9.—Hogs—Receipts. 32.000. including 15.000 directs; market, active: steady to 10 cents lower than Wednesday’s average: early 15 to 25 cent decline practically regained; top $10; bulk desirable 140-250 lbs., $9.65®9.95; 260-300 lbs.. $9.50(99.95; few sows, $8.50/9 8.75. Cattle—Receipts. 5000: calves, 1500; light weight steers and yearlings a little more active; . better grade ana weighty kind also showing strength: general market steady to strong: inbetween grades comprising bulk of crop: littlehere of value to sell above $11; prospective top on weighty steers around $12.75: bulk. $7.50/910; common light steers as well as comparable grade heifers active; all she stock firm; cutter cows ruling strong to shade highc" at $5 down: bulls and vealers fully steady. Sheep—Receipts. 10.000: fat lambs opening slow; early bids 15 to 25 cents lower; aged sheep weak: feeding lambs week to unevenly lower: good to /■v-oice native and fed westerns bid. $10.2J®10.50: most offerings bid. $10.25; native ewes. $4.75® 5.25: early bids and sales good to choice feeding lambs. $9.75 down. FORT WAYNE. Ind.. Jan. 9 —Hogs. 40c lower: 160-180 lbs.. $9.85: 180-200 lbs.. $9.75; 200-220 lbs.. $9.60: 220-240 lbs., $9.50; 230260 lbs.. $9.35: 260-280 lbs.. $9.20: 280300 lbs.. $9: 300-350 lbs.. $8.75: 140-160 lbs.. $9.45: 120-140 lbs.. $9.15; 100-120 lbs.. $8 95: roughs. $7 75: stags, $6; calves, $12.50; lambs. $10.75. LAFAYETTE. Ind.. Jan. 9.—Hog market, 35c lower, pigs 50 lower. 170-210 lbs.. $9.75 9 9.85. 218-235 lbs . $9.55® 9.65. 235-260 lbs.. $9.35/9 9.56. 260-325 lbs.. 59&9.25. 100-170 lbs.. $9/9 9.50. Roughs. $8.25 down. Calves. $11.60 down. Lambs. $lO down. EARNINGS TO INCREASE Times Special NEW YORK, Jan. 9—A. W. Robertson, chairman of the board of directors of the Westinghouse Electric Cos., today announced that earnings of the company for 1935 will approximate $12,000,000, equal to $4.50 a share, against $2.27 last year.

INVEST with Ist Mortgage Security on Improved Real Estate BUY Building & Loan Shares

HUGE RECEIPTS FORCE PORKERS DOWN SHARPLY

Prices Generally 35 Cents Lower; Veals Move Slightly Higher. Extreme weakness ruled in hog trading at the Indianapolis Union Stockyards today and prices were sharply 35 cents lower than yes- j terday’s steady average. The decrease. however, was attributed to the recent heavy flow of receipts at surrounding livestock markets as well as at the local exchange. The Supreme Court AAA decision has had only a little influence on the local market, livestock officials explained. Some farmers, however, conceived the idea that prices would probably respond sharply following the decision and flooded the markets with hogs, which now will reduce demand and force prices lower, it was said. Receipts at the local exchange today were estimated at 7000, compared with 8000 yesterday, of which approximately 340 were holdovers. Total receipts today at 11 of the large Mid-Western markets amounted to 94,000, compared with 51,000 on hand a month ago. The general bulk of 160 to 225 pounds, cashed in at $9.85 to $lO, with the latter also acting as the top price. Medium heavyweights, scaling 225 to 260 pounds, brought $9.55 to $9.75, while extreme heavies, from 260 to 350 pounds, sold at $9.15 to $9.45. Light lights, from 100 to 140 pounds, cashed in at $9 to $9.25. Packing sows held at $7.75 to $8.50. The cattle market turned extremely active and prices were steady on all classes. Slaughter grades were scarce with quality plain. A single head of steers were valued to sell above $10.50. Heifers brought $7.50 down, while bulls held at $4.50 to $6.25. Receipts numbered 600. Vealers were strong to slightly higher than yetserday, with the bulk selling mostly at sl3 down. Top held at $13.50. Receipts were 500. With a liberal supply on hand, fed western lambs were sharply 35 to 60 cents lower. Trade on other round remained undeveloped. Early bulk of fed western grades ranged from $10.50 to $10.65. Receipts were 3000. HOGS Jan. Bulk. Top. Receipts. 3. $ 9.75(9 9.35 SIO.OO 5000 4. 9.75 <910.00 10.00 1500 6. 9.70(9 9.85 9.85 8000 7. 10.20(910.35 10.35 6000 8. 10 20(910.35 10.35 8000 9. [email protected] 10.00 7000 Light Lights (140-160) Good and choice. .$ 9.50(9 9.85 Medium 9.00<9 9.60 (160-180) Good and choice.. 9.85(910.00 Medium 9.30® 9.85 /180-200) Good and choice.. 9.85(5 10.00 Medium 9.35® 9.85 Medium Weights (200-220) Good and choice . 9.85/910.00 (220-2501 Good and choice.. 9.65@ 9.85 Heavvweights (250-290/ Good and choice.. 9.35® 9.65 (290-350) Good and choice.. 9.00® 9.35 Packing Sows (275-350) Good 8.25® 8.50 (350-425) Good B.oo® 8.35 (425-550) Good 7.85® 8.15 (275-550) Medium 7.50® 8.00 Slaughter Pigs (100-140) Good and choice . 9.00® 9.50 Medium 8.25@ 9.25 CATTLE —Receipts, 600— (500-900) Choice $10.00012.00 Good 8.50(911.50 Medium 6.75® 8.75 Common 5.25® 7.00 (900-1100) Choice 11.75®13.00 Good [email protected] Medium 7.00(9 9.00 Common 5.25® 7.00 (1100-1300) Choice 12.00® 13.00 Good 9.25®12.00 Medium . 7.25® 925 (1300-1500) Choice 12.25®13.25 Good [email protected] Heifers (500-750) Choice [email protected] Good B.oo® 9.25 Common and medium 4.50@ 8.00 (750-900) Good and choice B.oo® 10.50 Common and medium 5.00® 8.00 Cows Choice 6.50® 7.00 Good 5.50® 6.50 Common and medium 5.50® 6.50 Low cutter and cutter 4.50® 5.50 Bulls, good 6.25® 6.75 Cutter, com. and med. bulls... 4.25® 6.25 VEALERS —Receipts, 500 — Good and choice $12,00® 13.50 Medium 8.. r >o@ 12.00 Cull and common 5.00® 9.50 Calves (250-500) Good and choice 7.00®10.00 Common and medium 4.50® 7.00 Feeder and Stccker Cattle (500-800) Good ana choice ... 6.75® 8.35 Common and medium 4.50® 6.75 (800-1050) Good and choice .. 6.75® 8.50 Common and medium <.so® 6.75 COWS Good 4.25® 5.00 Common and medium 3.50® 4.25 SHEEP AND LAMBS —Receipts, 3000— Lambs, 90 ’Us. down, good and choice $10.25/5 10.75 Good 9.75/5 10.25 Medium 8.75@ 9.75 Common 7.50® 8.75 Ewes (90-125) Good and choice .. 4.00® 5.00 Common and medium 3.00® 4.00 Yearling wether, good to choice 9.00® 9.50 Medium 7.00® 9.00 Other Livestock (By Times Special) LOUISVILLE;. Jan. 9.—Cattle—Receipts, 475: supply slaughter cattle moderate; demand easier for steers heifers and sausage bulls, but outlet for all grades of cows fairly dependable; cows generally steady, but indications 25-50 c or more lower on stesrs. heifers and bulls; most bids on common to medium grade slaughter steers and heifers. $5.50@7; common dairybr;ds and off-colored kinds quotable down to $5better finished steers eligible to around $8.50: bulk beef cows. $4.75®5.75; practical top. $6; low cutters and cutters mostly. [email protected]; most buyers talking $6.25 down on sausage bulls; light beef type stocked and stock calves salable mostly [email protected]. Calves—Receipfs 250, including. 75 stock calves: market not fully established; indications about steady or largely $10.50@ 11.50 for good to choice grades; medium and lower grades. $9.50 down to around $5. Hogs—Receipts, 700; market, 40c lower: top and bulk better, 160-225 lbs., $9.85; 230-250 lbs., $9.30; 255-300 It-*.. $9.05; 305 lbs. up. $8.55; 120155 lbs.. $8.75; sows. $7.80. Sheep—■ Receipts, 100: run light mostly native lambs: demand eatutr: market mostly 50c lower on better grades most medium to good native lambs. S9O 10: choice offerings eligible higher; plainer grade natives. Including bucks, mostly $6 5008.50.

■WE BUY. SELL. and gladly furnish quotations on: Bonds of ths United States Government, Its Territories and Insular Possessions Home Owners’ Loan and Land Bank Bonds Indiana Municipal and Corporate Securities General Market Securities Indianapolis Bond and Share Corp. 129 EAST MARKET STREET

New York Stocks

ißy Thomson & McKinnon/ 11:15 A M. Prev. Oils— High. Low. N Y. close. Amerada 79** 79% 79% 78% Atl Rig Z 9% 29', 29- 29% Barnsdall 16 15** 16 15% Consol Oil 13% 13 13% 12% Cont of Del . 37% 36*, 36% 36' 2 Houston / new). 7% 7% 7% 7 Mid Cont Pet ..21 21 21 20** Ohio Oil 14% 14** 14% 14% Pet Corp" 14% 14% 14 s * 14% Phillips Pet ... 4Q% 40% 40% 40% Plymouth Oil ... 14% 14% 14% 13% Pure Oil 18% 18% 18% 18 Royal Dutch ... 49*, 49% 49*, 49', Seaboard Oil ... 36’, 35% 35*, 36 Shell Un 16% 16 16% 16% Skellev Oil 22% 21% 22% 20% Soc Vac 15% 15% 15% 15% SO of Cal 41% 41 % 41% 41 % S O of Ind 37'j 37 37 36% SOof N J 54 53** 53** 53*, Texas Corp 31 30*, 30% 30% Tidewater Assn. 15** 15*, 15% 15% Un Oil of Cal .. 25 24*, 25 24** Steels— Am Roll Mills . 32*, 32% 32*, 32*, Beth Steel .... 53% 52 52% 52’, Byers AM . ... 23% 22 1 a 23’, 22% Col Fuel & Iron s** s** 5% Inland Steel ..104% 104% 104'* 104** Ludlum Steel... 25% 25% 25% 25*, Natl Steel 74** 74*, 74*, 74% Otis Steel . .... 16% 16% 16% 16% Rep Iron&Steel 19’* 19', 19% 19% U S Pipe & Fdy 23% 23% 23% 23% U S Steel ... 49% 49% 49', 49% U S Steel pfd ...118% 118% 118% 118*, Warren Bros ... 5% 5% 5% 5% Youngst'n S& T 44% 14% 44% 45% Motors— Auburn 43% 43 43 43' Chrysler .. 88% 99% 99% 99% Gen Motors ... 55% 55% 55% 55% Graham Mot .... 33 32% Hudson 16% 16 16 15% Hupp . .. 2 1% 1% 1% Mack Truck ... 30% 30% 30% 30‘* Nash 18% 18 18 18 Packard 7% 7% 7% 7% Reo 5% 5 5 $ Studebaker 9% 9% 9% 9*, Yellow Truck ... 10% 10 10% 10% Motor Access— Bendix 22% 22% 22% 22% Borg Warner ... 66% 66% 66% 67% Briggs 52% 52% 52% 52% Budd Mfg 10% 10 10 10% Budd Wheel .... 12% 12% 12*, 12% Eaton Mfg . ... 39% 39% 39% 39% Elec Auto Lite. 38 37% 37% 37% Houdallle “B” . 29% 28% 28% 28% Murray Body ... 19% 19 19 18% Stew Warner ... 18% 18% 18% 18% Timken Roll ... 67 66% 66% 66% Timken Det Axle 14% 13% 13% 14 Mining— , Alaska Jun .... 15% 15% 15% 15% Am Metals 28 27% 27% 28 Am Smelt 58% 58% 58% 58% Anaconda 29% 29 29 29% Cal & Hecla ... 6 6 6 6 Cerro De Pasco . 53% 53% 53% 53% Howe Sound ... 52% 52% 52% 52% Ins Copper 6% 6% 6% 6% Int Nickel 45% 45 45 45% Is Creek C0a1... 28% 28% 28% 28V* Kennecott Cop.. 29% 29 29 28% Mclntyre Mine.. 42% 42% 42% 42% Park Utah 4% 4% 4% 4% Phelps Dodge 26% 26% 26% 26% St Joe Lead 24% 24% 24% 24 U S Smelters 93 92% 92% 93% Vanadium 22% 32 22 22 Amusements— Crosley Radio .. 18% 18% 18% 18% Fox Theat 26% 25% 25% 25 % Loews Inc 54% 54 54 54 Radio Corp 13% 12% 13 13Vi Paramount 10% 10% 10% 10% Warner Bros 10% 10 10% 10 Tobaccos— Am Tob (A) 91% 99% 99% 99% Am Tob (Bi. . .101% 101% 101% 101% Lig & Myers (B).lll% 111 % 111% 112% Lorillard . . .26 25% 25% 25% Reynolds T (B). 58% 58% 58% 58% Rails— Atchison 67% 66% 66% 66% B & 0 18 17% 17% 17% Can Pacific 11% 11% 11% 11% Ch & 0hi0... 53% 53 % 53% 53% Chi & Gt W pfd 5 5 5 5% C’ M & St P pfd 4 4 4 4% Chi N W 3% 3% 3% 3% Dela & Hud ... 38 38 38 38% Del Lac & W... 16% 16% 16% 17 Erie 13 13 13 12% Grt North pfd. 34 33% 33% 34% 111 Central 21% 20% 20% 21% K C Sou 15% 15 15 15 Lou & Nash ... 62 62 62 62% M K & T ... 6% 6% 6% 6% M K & T pfd ... 15 15 15 15% Mo Pac pfd ... 4% 4% 4% 4% N Y Cent 30 29% 29% 29% Norfolk & West 216% 216 216% 214 Nor Pacific 26% 26 26 26% Penn R R 34% 33% 34 34 Reading 39% 39% 39% 39% Sou Pac 26 25% 25% 25% Sou R R 15% 15'/* 15% 15% Union Pac .. ..113 113 113 113% West Maryland . 9% 9% 9% 9% Equipments— Am Brake Shoe 48% 48% 48% 47% Am Loco 27V, 26% 26% 26% Bald, Loco 4% 4% 4% 4% Gen Am Tk Car, 56% 52% 52% 52% Gen Elec 39% 38% 38% 39 V* Pullman Inc ... 40% 39% 40 39% West Air Br ... 36% 36% 36% 36% Westingh Elec .102% 101% 101% 102 Utilities— Am & For Pwr . 8% 8% 8% 8% Am Pwr & Lit.. 9% 9% 9% 9% AT&T 159V* 159% 158% 159% Am Wat Wks .. 23% 23 23 23% Col Gas & E/ec 15% 15% 18 % 15% Comm & Sou ... 3% 3% 3% 3% Consol Gas . 33 32% 32V* 33% Etec Pwr & Lit. 7% 7% 7% 7% Int Hydro Elec . 5% 5% s'/, 5% Int TANARUS& T 14V* 14V* 14V* 14V* Nat Pwr & Lit . 12% 12% 12V, 12V, North Amer 29% 28% 28% 29% Pac G& E 32% 32V* 32% 32% Peoples Gas 46% 46 46 46% Pub Serv N J ... 47% 47% 47% 47% So Cal Edison .. 26V, 26% 26% 26% Std Gas 8 8 8 8% Stone & Webster 17% 17',4 17% 17% United Corp 8% 8 8 8% Un Gas Imp 19V* 18% 18% 19 Ut Pwr & Lt “A” 3% 3% 3% 3% Rubbers— Firestone 25% 25% 25% 25% Goodyear 23% 23% 23% 23V, U S Rubber 17% 17 17 17V* U S Rubber pfd. 51% 51 51 51% Miscellaneous— Am Mach & Fdy 28% 28% 28% 28% Anchor Cap .... 17% 17% 17% 17% Burroughs Add . 26% 26% 26% 26 % Conti Can ...... 85 ■>4% *84% 84% Caterpillar Tract 56 56 56 56 Crown Cork 45% 45 45 45 Curtis Pub 22% 22% 22% 22% Deere &Cos 55% 55% 55% 55% Foster Wheeler . 29 29 29 29 Gillette 17V* 17 17 17 Glidden 49% 49% 49% 49% Inter Harv ..... 57% 56% 57% 56% Rem Rand 21% 21% 21% 21% Foods— Armour 5% 5% 5% 5% Armour 6% pfd gB% 68% 68% 68 1 a Beatrice Cream.. 19% 19*, 19** 19% Borden Prod. . 27% 27% 27% 27% Cal Perking . 35 35 35 35% Cont Bak "A’’. 15% 15 15% 14% Corn Prod 72% 72** 72% 71% Gen Foods 35% 35% 35% 35% Gold Dust 20 1 2 20’ 2 20% 20** Loose Wiles ... 43% 43% 43% 43 Natl Biscuit ... 37% 37% 47V* 36% Natl D Prod ... 22% 22 22 22% Purity Bak . 16% 16% 16% 16% S Porto Rico Sug 27 27 27 27% Std Brands ... 16% 16% 16% 16** Un Biscuit . ... 27% 27% 27% 27% Ward Bak ’B’ . 3% 33% 3 , Retail Stores— Assd Dry Goods 14% 14% 14% 14% First Natl Stores 46** 46** 46** 48% Gimbel Bros ... 6% 6% 6% 6** Allied Stores ... 6% 6% 6** 6% Jewel Tea 58% 58% 58% 59 Kresge S S 24V* 24 24% 24% Kroger Groc .... 27% 27% 27% 27% Macv R H 46V* 46V* 46% 45% McC’rory St 13% 13% 13% 13 McL6llan St . ... 12% 12% 12% 12% Marshall Field.. 12% 12% 12% 12% Mav Dept St .... 51 61 51 51 Mont Ward 36% 36% 36% 36% Natl Tea 10 10 10 10 Penney J C 75% 75 75 76V* Safewav St ... 35 35 35 34% Sears Roebuck.. 61% 61% 61% 61% Wc-.iworth 53% 53% 53% 53% Elation—at%n Corn ..5 4% 4% 5 im Aircraft.. 22% 22% 22% 24% ..t tis. Wright . 4% 4* 4% 4% Curtiss Wri (A) 11% 11% 11% 11% Douglas Air 55% 55% 55% 56% Nor At.ier Av 7 6’, 6% 7 Sperr* Corn .• ■ • 17% 17% 17% 17% Utd /ircraft new 28% 28% 28% 28’* Chemicals— Col Carbon 101% 101% 101% 100** Com Solvents... 22% 22% 22*, 22% Du Pont 142% 142 % 142% 142% Freeport Tex 6 . 31 30% 31 29% Liquid Carb 41% 41 41% 41% Math Alkali . .. 32** 32% 32% 32% Monsanto Chem 92 92 92 91% Natl Dist (new) 30 30 '1 30** Schenlev Dist . 48% 48% 4P% 48% Tex Gulf Sulph.. 35 34*, 31% 35 Union Carbide . 73% 72% 72% 72%

Average Stock Price Rises The average market valve of all stocks listed on the New York Stock Exchange on Jan. 1 was $35.62, compared with $31.34 on Dec. 1 and $25.99 on Jan. 1, 1935.

U S Indu Alcohol 42’, 42% 42% 42’* | Drugs— Coty Inc 6% 6% 6*, 6% , Lambert 23 23 23 23* a Lehn & Fink ... 13% 13% 13% 13% Sterling Prod .. 65% 65% 65% 65% Un Drug /new/ . 13% 13% 13% 13 ! Vick Chem 42% 42% 42% 42% i Zontte Pros.' .... B** B** 8% 8%; Financial— Adams Exp 11’, 11% 11’, 11% Allegheny Corp . 3% 3% 3’, 3% 4m Int Corp ... 12% 12 12 12 Chesa Corp .... 65' 65 % 65' 65 Lehman Corp ... 97% 94'* 97% 97% Tr* nsamerica .. 13 % 13% 13% 13% i uilriing— Am Radiator ... 26% 26% 26*, 27 Gen Asphalt ... 25', 24** 24’, 24% Holland Furnace 32% 32'* 32% 31% Libby Owens Gls 49% 49 49 49 Otis Kiev 26% 28% 26% 26% U S Gypsum ... 90 90 90 90% Household— Col Pal Pet 19*, 19% 19*, 19% Congoleum 44% 44% 44% 44*, Kelvinator 16*, 16% 16% 16 1 a Mohawk Carpet . 21% 21’, 21% 21% Proc & Gamble . 48 47% 48 48 Servel Inc 16', 15% 16% 15% Simmons Bed .. 22% 22% 22% 22% Textiles— Amer Woolen ... 10% 10% 10% 10% Belding Hem ... 13% 13% 13** 13** Celanese Corp .. 31 30% 30% 30% Collins Aikman . 47% 46% 46% 48 s , Gotham Hose .. 9% 9** 9% 9% Indus Rayon ... 31 30% 30% 30% Kayser Julius .. 28% 27** 27% 28% Local Securities (Because quotations on local securities are unlisted on an Exchange. The Times ran not as>jme responsibility for the accuracy of these figures gathered from local brokers.) 6TOCK3 Bid. Ask. J. D. Adams Mfg 17 18 Belt RR & Stk Yds com ... 50 53 Belt RR & Stk Yds 6% pfd... 53 Central Ind Pcftv 7% pfd .15 18 Home Tel & Tel Ft. Wn 7% pfd 50% 52 Hook Drug Inc com 14 % Ind & Mich Elec 7% pfd 99 102 Indpls Chain Sto Term pfd.. 52% 60 Indpls Gas Cos com 36 40 Indpls Pow & Lt 6 pfd 82 85 Indpls Pow &Lt 6%*% pfd . 87 % 90 % Indpls Water 5% pfd 102 Lincoln Nat Life Ins. Cos 34 37 “North Ind Pub Svc 5%7 Pld 67V* 71 •North Ind Pub Svc 67* pfd.. 77 81 Progress Laundry com 7% 10 Pub Svc of Ind 6% pfd 11 14 Pub Service of Ind 7% pfd.. 36 39 So Ind Gas & Elec 6% pfd.. 92V* 96% Terre Haute Elec 67i pfd 82 85 Union Title com 20 23 BONDS Atlanta Dlstr Term 674 *4l ... 62% 70 Buffalo Distr Term 6% '4l ... 70 75 Brooklyn Postal Sta 5% % '4B . 37% 42 Home Tel&Tel FtW 5V* % '35..103 105 Home Tel&Tel FtW 674 '43 .103 106 Indpls Railways Inc 574 '67 .. 50% 53 Indpls Water 4% 74 ’4O 105 107 Indpls Water 674 'SO & '6O .. 105 107 Indpls Water 5%74 ’53&’54.103V* 105 Interstate T & T 5%74 ’53 ... 93 96 Kokomo Water Works ’SB ...104 105% Lafavette Telephone 5% '57 .102 Morris 5 & 10 Stores 574 'SO. 99 102 Muncie Water Works 5% '65 .102% Noblesville HL&P 6% '47 .. .. 97 100 Ohio Tel Service 6% ’47 95 ... Richmond Water Works 574'57 104% 106 St. Louis Post Office 6%% ’3B 18 25 Seymour Wtr Ist mtg 5% ’59 101 104 Terre Haute Water Wkss74 ’56 101% 103% Terre Haute Wat Wks 674 '49 103 105 Traction Terminal 574 '57 68 73 •Ex. div. OUTSTANDING LOANS TOTAL $46,389,249 Railroad Credit Corp. Files YearEnd Report With I. C. C. Times Special WASHINGTON, Jan. 9. —The Railroad Credit Corp. report filed teday with the Interstate Commerce Commission shows that the corporation had $46,389,249 in loans outstanding at trtie close of 1935, according to E. G. Buckland, president. The loans originally made to participating carriers amount to $73,691,368. The reduction of $27,302,119 in the loans was brought about by repayments of $11,522,292, credits of $15,694,270 from distributions made by the corporation, applied tax refunds, $32,589, and miscellaneous $52,968.

LOTS OF PEOPLE BORROW on the Colonial ftlan TO GET OUT OF DEBT Yes, it’s possible to borrow to get out of debt. Lots of people do it every day. Thus, you may trade your past due bills, or other debts, for one obligation, with only one easy payment to make each month. No matter what kind of a debt you owe, see us about helping you reduce your monthly payments. Use Colonial “emergency” service when you must have money in a hurry’ to pay some unexpected expense. When you purchase anew or used car, tell your dealer you want to finance it on the convenient, liberal, low cost Colonial Plan. REDUCED RATE ON LOANS OVER SIOO Colonial’s charge on loans of more than SIOO provides a considerable saving, since it is below the maximum provided by law. FURTHER REDUCTION FOR PROMPT PAYMENT Ten per cent TO%) of the monthly cost of your loan w’ill be paid back to you every month if you pay promptly. EQUAL MONTHLY PAYMENTS Colonial provides a plan of equal monthly payments. You know in advance what your payments will be each month. It’s simpler —easier to budget. FREE PARKING TO COLONIAL CUSTOMERS Across the street from our office is a large parking lot. Just drive in—get your parking check—bring it to our office'w hen you come in to transact your business—we’ll stamp it—you pay nothing to the Dark- % ing attendant when 'jmHrfT !l '- i you return for your ,7 car. It’s good for ON THE y ||£ 1 P I VS one hour. V 1 m GROUND H E * MICHIGAN s g /• n ,rn > FLOOR ism!: j Corns la to discuss your mon.y noods with- | obligation or w.TI send a courteous K&V I young follow lo see you 11 you prefer. Wl OF INDIANA INC- #* 115 E- Michigan St Riley 1591 INDIANAPOLIS ' Lst Colonial Plan Your Way Out of Debt"

TOOL INDUSTRY PICKS UP WITH GAININORDERS 1936 Prospects Favorable; Auto Requirements Enlarged. Times Special NEW YORK, Jan. 9—ProspecU of the machinery and machine tool industry are favorable not so much for the reason that manufacturers are getting substantially more business as for the fact that this business is now coming in from a wider variety of sources than at any other time since 1929, Standard Statistics Ca reported today. Most of the 1935 improvement is traceable directly or indirectly to the larger requirements of the automobile industry, and to the fact that the early introduction of new models moved this business into the summer months, the survey said. “Until recently, the increased interest in modern machinery and tool equipment on the part of industry generally has been largely confined to requests for specifications and prices on machinery for delivery at an indefinite future date. Must Maintain Efficiency “Now these vague inquiries not only are being replaced by firm orders, but by orders for as early delivery as possible. The suggestion is that manufacturers are convinced either of the necessity of lowering costs through installation of new machinery and equipment or of increasing their productive facilities in order to meet present or potential increases in demand for their goods. Or perhaps it is both. In any event, the trend is one that can scarcely avoid spreading and gaining in momentum. “Competitive conditions are such as to leave manufacturers in a given line virtually no choice but to maintain plant efficiency and production costs on a parity with those of rival concerns. “For the first three months of 1936 machine tool and machinery ordeis should exceed year-earlier levels by a substantial margin, and shortly thereafter demand from general industrial lines should be augmented by the start of buying by automobile makers preparing for fall model changes.” B. & 0. LOADINGS RISE Cars Loaded Show Increase of 35,536 During 1935. l imes Special BALTIMORE. Md.. Jan. 9.—CarI loadings on the Baltimore & Ohio Railroad for 1935 showed an increase of 35.536 cars loaded over the total of the preceding year, it was announced today. The total for the year was 2.079 395, compared with 2,043,859 in 1934. For the four weeks period ended Jan. 6. 1936. carloadings amounted to 35,537, an increase of 3051 cara over the same week of 1935 when the total was 33,486. Last week also showed an increase of 5829 cars loaded over the previous week ended Dec. 28.