Indianapolis Times, Volume 48, Number 14, Indianapolis, Marion County, 27 March 1936 — Page 32

Trends Mood for Ref or n* Measures Has Passed. ...... BY JOHN T. FLYNN YORK. March 27.—A small newspaper note recently told in half a dozen lines a whole volume of history. It contained a simple statement purporting to come from Senator Black that there was no chance of getting any support in the Senate for this 30hour bill. One has but to go back Just

three years to March, 1933, when the Black 30-hour bill was before the Senate and was passed by a very large majority. The vote against it, in fact, was quite small. A large number of Republicans joined with the Democrats in passing It. The House of Representatives was about to pass it in the form of the Connery bill

Flynn

when the NRA was rushed forward by the Administration as a substitute to defeat the Black bill. Now the NRA has had its day and gone. And the 30-hour bill can not muster a corporal’s guard in the Senate. What is the reason for this? It is worth asking, because the answer is important. The whole energy of the reformatory mood which seized America in 1933 has passed. n n "TvESPITE the fact that uiicmployment is as great as it was at this time in 1932, when the last presidential pre-convention campaign got into swung, the appetite of the people to change things, to remedy things, to make new law's, to drive out old devils, has evaporated. The importance of this phenomenon can not be over-estimated in forecasting business, financial and political movement. It means that during the coming year we are not going to see any more socalled attacks on business either by the Roosevelt Administration or any one else. There may be printed stories of new "raids” on business, but these yams will be largely the work of critics of the Administration who wish to discred ii i little more. The explanation of this mood, of course, is an old one. People go in for reform for only a brief period. The great majority of the people care nothing about such things. They wish to be let alone. A small minority of class or socially conscious people keep up agitation in season and out. u BUT it is only in periods of exceptional catastrophe that the whole population can be aroused to support act'on. They will not submit to the crusading spirit for long. Any good historian might have told us in 1933 that by 1936 the era of change and remolding would be over. It will come again but it is done for the time being. I think no one can fail to put this dowm, along with the state of Federal finances and government spending plans, as a major item in forecasting the course of business during the next year. It is this which convinces me that business will continue active and to rise, barring of course the impact of war. The episode has a lesson for the social philosopher and an even more important lesson for the social reformer. It is that when the period of the reformatory mood arrives, it must be seized and acted upon quickly or the opportunity will pass. The opportunity for reform has passed in this country now. It will not return until another crisis visits us. (Copyright, 1936. by NEA Service. Inc.) CONVENTION DATES SET Times Special NEW YORK. March 27.—'The sixty-eighth annual convention of the American Institute of Architects will be held at Williamsburg. Va., May 5. 6, 7 and 8, according to Stephen F. Vorhees, New York, president of the Institute. Aproximately 500 representatives from all parts of the country are expected to attend the session. On Commission Row (Quotations below subject to changv are avrrase wholesale prices heins offered to b' vers by local commission dealers.) FRUlT—Strawberries: Florida. pint, 18c; 36-pint crates. 17c. Cranberries. C. C. Howes. Eatmores, 25-lb. box, $2.50. IVars: Washington D'AnJo 1100s boxi, $3 25. California. Avacado i2OO-24si, $3 50. Limes: Mexican, carton. 20c; Persian seedlr , (do*.). 45c. Bananas, seven hands, be .ketsl. $2 15; Jonathans, $1.65; Rome pound, 5%c. Apples: Delicious (fancy Beautv. $1 50. Lemons: Sunkist (36051, $6. Grapefruit: Texas seedless (545-80s). $4; Arizona Sunkist <Bos>. $3. Tangerines: (Florida 120s. 1445. 168s). $1.75. VEGETABLES Artichoke. California (do*.). sl. Beans, green round stringless (hampers!. $3 25. Beets: Texas i3 do*, cratei. $1.78: cut offs ibu.), sl. Brussels Sprouts: California tlb.i, 18c. Cabbage. New York Danish (50-lb. bag'. 75c; New Texas icratei. $2. Red Cabbage (50lb. bagi. $2 Carrots: California (6-do*, err'e'. $3: TVxas (3% do*, crate). $1,50. Csuliflow’er. California <!2s crate) $175. Celt."', Florida washed and trimmed ido*.). 45((t90c: Florida (4s. 6s. Bs. 10s cratei $3.25. Cucumbers, hothouse ido*.'. $1 50; (southern bushel). $6. Egg plant, Florida 'doz ). $1 50. Kale iVirsinia bushel'. 85c. Lettuce: Iceberg Arizona (best 6s, ss(, $3.50, home grown leaf (15lb baskets). 85c. Endive California idoz.i, 90c Peppers, mangoes icratei. $6 50. peck basket, $1 65 ido*.). 65c. Mint, hothouse (do* i, 75c. Mushrooms (pound), 30c. Mustard. Texas half crate. $1.40 Onions: Indiana yellow 150-lb. bag'. 75c; Western Spanish 50-lb. bag'. $1.50. Ovster plant, home grown (do* ), 40c. Parslev, Southern dong bunches do*.). 45c. Parsnips, home grown washed 'bushel'. si-half-bushell. 60c. Peas: Florida (hamper'. $4. Potatoes: Michigan Round Whites (100-lb. bagi. $165: Maine Green Mountains iIOO-l). bag'. $2 25; R. R Early Ohios (100-lb bag'. $2: R. R. Triumph (100-lb. bagi. $185; Idaho Russets (100lb. bag', $2 25; Idaho bakers (70s box). $2.50- Col McClures (100-lb. bagi, $2 20; New Florida Triumphs iSO-lb. bag'. $2 35Sweet Potatoes: Tennessee Fancy Hlls (hampers). $1 15; Indiana Puerto Rican.i bushel crate), $l5O. Radishes, home grown buttons ido*.t, 65@75c; white 45c. Rhubarb, hothouse (bunch), 45c Rutabagas. northern 50-lb. bagi. $1 25. Sage ido*.). 45e Shallots. Louisiana idoz.i. 45c Spinach, New Texas (bushel). $1 Turnip*, new bulk Texas (bushel'. $1 35 Tomatoes, repacked 110-lb. boxi. $175.

Your Local Building & Loan Association Makes Modernization Loans and Loans on New Homes.

PAGE 32

WIRE SYSTEMS SHARE RESULTS | OF SHARP GAINS Communications Units Are Expected to Record Good Showing. I Times Special NEW YORK, March 27.—Com- | munications corporations are stagi ing an impressive recovery, and earnings of the various units in the industry will show improvement in the first quarter over those of the first three months of 1935, estimates today disclosed. Perhapfe the greatest improvement will be shown by the telephone operating companies, which are continuing to record substantial gains in local and long distance service. The companies also are still campaigning to regain stations lost during the depression era. The spurt in commercial business is aiding these corporations substantially, as are the increased operations in the financial district. Brokerage houses have increased their number of private and leased wires, as well as the number of local stations which they have been using. Bell System Gaining The 28 operating companies of the ' Bell system, for instance, are showing net gains in stations since the i first of the year almost double those j of the same period in 1935. For in- 1 stance, the companies for the period ended February 29 showed a gain of 123,400, compared with 67,000 a year ago. Telegraph companies also are reporting increased business over a year ago, benefiting no little bit from the present bull market in securities. The January statement of the Western Union Telegraph Cos. showed gross revenues of $7,389,431, an increase of 5.7 per cent over the corresponding month of 1&35. The company’s net after fixed charges was $178,110. compared with $29,080. despite the fact that the 2 per cent wage restoration became effective on Jan. 1. The February statement also is expected to make a good showin, and indications are that March wiil show an impressive gain unless the company should suffer unduly from the effects of the floods in the various sections. In view of these reports, the statement for the first quarter should be one of the best in recent years; at least it will make one of the best comparisons with a former year. Refunding Trobable Western Union, in view of its improved earnings, is in good position to refund the $15,000,000 6%s due Aug. 1 at a much lower interest rate, perhaps 4 per cent, thus effecting a saving of at least $300,000 a year. In this connection it also is probable that, if the money market should continue favorable, the company might consider refunding the $25,000,000 25-year gold ss, which become callable for the first time Oct. 1. Under present conditions an issue carrying a 4 per cent or even lower coupon could be floated. The Postal Telegraph Cos., is still in the process of reorganization and while reports have been current for some time that this company would be consolidated with Western Union, it is probable its capital structure will be remodeled before any further steps are taken. Another communication company, Radio Marine Corp., also is reporting increases this year. The company is said to be experimenting with the transmission of facsimiles to ships at sea. Already, daily weather maps are being sent successfully to vessels in European ports, and a full commercial service may be inaugurated later. Local Securities (By Indianapolis Bond & Share Corp ) The following quotations do not rep"?iy iKi. a;;,iar swsttf BONDS Home TANARUS& T Fort Wayne 6% ..lo? I**' 1 **' 105*“' Home TANARUS& T Fort Wayne 6.. 103 106 Indianapolis Railways Inc ... 66 69 Indianapolis Water Cos 4%s .106 io Indianapolis Water Cos 5 105 107 Indianapolis Water Cos 5 ...105 107 Idlanapolis Water Cos 5' a .... 104-4 106 Indianapolis Water Cos 5% ..104% 106 Interstate T & T 5% .. ... 97 99 Kokomo Water Works 5 104 105 Morris 5 & 10 Stores 5. .100 103 Muncte Water Works 5 10314 Noblesville Heat Lt Pwr 6%.. 98 100 u> Ohio Telephone Serv 6 .. .. 97 ■ <, 3 Richmond Water Works 5 .105 106'i Seymour Water .Cos 5 lot 104 Terre Haute Trac & Light 5 .106 108 Terre Haute Water Wks 102 104 Terre Haute Water Works .. .103 105 Traction Terminal Cos 5 75 78 STOCKS •Belt R R <fc Stock Yards Com 53 55>4 •Belt R R & Stock Yard pfd 6 52 Central Ind Pwr pfd 7 19% 22', Home TANARUS& T Fort Wayne 7.. 52'a 54% •Hook Drugs Inc com . .... 16% 18 •Ind A: Mich Elec Cos pfd 7.103% 106*i •Ind General Service Cos 6... 96‘a 99 Ind Hydro Elec Cos 7 55 58 Indianapolis Gas Cos com 6 .. 34 37 •Indpls Pow <fc Lt Cos pfd 6 . 89 92 •Indpls Pow & Lt Cos pfd 6> 2 94 97 •Indianapolis Water Cos pfd 5 102 105 North Ind Pub Serv pfd a 1 , 2S 64 67 North Ind Pub Serv pfd 6 72 1 3 75', North Ind Pub Serv pfd 7 . . 80 83 Progress Laundry Cos com 10 11 'i Pub Serv Cos of Ind pfd 6 .18 21 Pub Ser'- Cos of Ind pfd 7 40' 2 4314 •South Ind Gas <fc Elec pfd 6 98 101 Terre Haute Electric Cos 89 91% Union Title Cos com 1914 21 1 a •Ex-dividend. 3 Produce Markets The prices quoted ara paid for stock gathered in the country, while delivered in Indianapolis the price is a cent higher Heavy breed hens. 18c. Leghorn breed hens, 16c; Leghorn springers, 12c: old stags. 13c; old cocks, 12c. Ducks, white 5 lbs. and over 11c; geese, full feathered, all sizes, 8c; all guineas 1' 2 lbs. and up, lac; No 1 strictly fresh eggs, loss off. 14c, deliver in Indianapolis. 15c. Each full esie must weigh 55 los. gross, a de tuetion of 10 cents a pound under 55 lbs will be „, No - 1 butter. 35%©36%c; No. 2 32%©33%e. Butterfat. 29c

We take pleasnre in announcing the installation of TRANS-LUX MOVIE TICKER SERVICE in connection with NEW YORK CURB EXCHANGE QUOTATIONS Thomson & McKinnon Members of New York Stock Exchange and other principal exchanges. 200-214 Circle Tower LI. 5501

Abreast of The Times on Finance

New York Stocks

'By Thomson & McKinnon). 11:15 Oils— High. Low. V. Y.’ close! Atl Rfg 33', 33 33' 32% , Barnsdall 17% 17', 17', 17% 1 Consol Oil 14Va 14' a 14’3 14% I of Del .... 36', 36% 36% 36% Mid Cos. - Pet . 22 21% 21% 20% Ohio Oil 15% 15% 15% 15% : Phillips Pet .... 48% 48% 48% 48% ; Plymouth Oil .. 15% 15% 15% 15% °ure Oil . 23% 23% 23% 23% Koval Dutch .. 56 55 s , 56 54% • c -oaard Oil 4J 4040 40 Shvfii Un 17% 17% 17% 17% Skellcy OH 31% 31 s , 31 s , 31% Soc Vac 14% 14% 14% 14% S O of Cal .... 45% 45% 45% 45% S O Os Ind 38 38 38 37% S O of N J ... 67 66% 66% 66% i Texas Corn 38% 38 38% 38% Un Oil of Cal ... 26% 26% 26% 2i>--Tidewater Assn . 18% 18% 18% 18% Steels—i Acme Steel . .. 68 % 68% 68% 69 Am Roll Mills. 28% 28 s , 28 s , 28% Beth Steel . .. 55% 55% 55% 56 Inland Steel ....112 112 112 112% i Ludlum Steel ... 27% 27% 27% 27% i Mid Steel 37% 37% 37% 38 I Natl Swel 70% 70% 70% 70 s , I Otis Steel 18% 18% 18% 18% I Ren I & Stl . 23% 23% 23% 23 s , Rep I At Stl pfd 91 91 91 93% U S steel .... 64% 64 % 64' t 64% ;u S Steel pfd ..129% 129% 129% 129 s , ' Warren Bros ... 8% 8% 8% 8% ! Motors— Auburn 49% 49% 49% 49'i Chrysler 97% 96% 96% 97 s , | Gen Motors ... 67% 66% 66’, 67 (Graham Mot .. 3% 3% 3 s , 3% i Hudson 177, 17 s , 17 s , 18 I Mack Truck 39% 34% 34% 34% I Nash 19% 19% 19% 19% | Packard 11% 11% 11% 11% I Reo 8 7% 7% 8 iStudebaker 13% 13% 13% 13% Yellow Truck .. 19% 197, 19% 19% Motor Access— Bendix 26% 2S'/a 26 26% Bohn Alum 58'% 58% 58'% 58% Borg Warner ... 82 62 82 82 V 2 Briggs 61% 6174 61 % 61' 2 Budd Mfg 13% 13 13 1374 Eaton Mfg 35% 35 35 34'% Elec Auto Lite .. 40'% 40'% 40'% 40% Greyhound "B” 65 65 65 6574 Houdaille 29 28% 28% 28% Murray Body .. 20% 20% 20% 2074 Stew Warner .. 21 s , 21 s , 21% 20% Timken Roll ... 69 s , 69 s , 697, 70 Timken Del Axle 15% 14% 14% 15 s /, Mining— Am Smelt 85% 8574 85% 86% Anaconda 357, 35'% 35'% 35% Cal & Hecla ... 874 87'* 874 9 Cerro De Pasco.. 54 54 54 53% Dome Mines .... 43 s 4 43 s7 , 437, 44 7, Granby 374 3 V* 374 3% Gt Nor Ore 19 19 19 19 Howe Sound ... 52% 52 s 4 52% 53 Ins Copper 12% 12 s , 12% 1274 Int Nickel 48% 48V 2 487% 4874 Kennecott Cop .. 37% 377% 37% 38 Mclntyre Mine . 4040 40 4074 Park Utah 4% 4% 4% 4% Phelps Dodge ... 377, 3774 37V, 37 5 /, St Joe Lead 28 27% 27% 28 U S Smelters ... 89'% 39'% 89'% 91 Vanadium 22'% 2274 22'% 227% Amusements— Crosley Radio .. 197% 197% 197% 19% Fox Theat 28 28 28 2874 Loews Inc 48 4774 47% 47 Radio Corp 13 12% 12 s/ , 12% Pat amount 9% 9% 9% 9% RKO 7 s , 7 s /, 774 7% Warner Bros ... 1274 11% 11% 11% Tobaccos— Am Tobacco ‘A’. 91 91 91 907% Am Tobacco ‘B’. 9274 92 % 92% 92 Gen Cigars .. . 5674 5674 56 % 57 Ligg & Mvers 'IT 102 102 102 102 Reynlds' Tob ‘B’. 5374 53% 53% 5374 Rails— Atchison 75 75 75 74% B * O 20 19% 20 19% Can Pacific 12 s ', 12 s , 12% 1274 Ch & Ohio 57% 577% 57'% 577% Chi N W 4 4 4 374 Dela & Hud 44'% 44 44 44% Del Lac & W ... 19'% 19% 19'% 1874 Erie 1474 14V, 14V, 14 Erie pfd 21% 21% 21% 22 Gt Northern pfd 37 * 36'% 37 37 111 Central 24% 24 24 24'4 K C Sou 24% oJ!4’% 247% 24% Lehigh Valley .. 11'% 11'% ll'% 1174 Lou & Nash 73'/, 73'/, 7374 73 MK&T .*.... 874 8% 8% 8% Mo Pac pfd .... 6 6 6 6*% N Y Cent 35% 35% 35%. 35'% N Y New Haven 4% 47, 4% 4V, Nor Pacific 3074 30% 30V, 3074 Penn R, R 33% 337', 33V, 33% Sou Pac 34% 34% 34% 3474 Sou R R 17V, 1774 1 7V, 17% Union Pac 133 133 133 133 V, Wabash 37% 37% 3'% 37% Equipments— Am Brake Shoe . 48'% 4GVi 48'4 48% Am Car & Fdy . 34 s /, 34% 34% 35 5 , Am Loco 31 31 31 30V, Am Steel Fdy ... 30 2974 29% 29% Ba.d Loco 5 5 5 574 Gen Am Tank Cr 56% 56V, 56'/, 56'% Gen Elec 38% 3874 38% 38% Pullman Inc 4174 4174 41% 42 West Air Br ... 43'% 43'% 43'% 4374 Westingh Elec ..11474 114% 114 V, 114% Utilities— Am & For Pwr . 97% 974 9 % 9% Am Power & Lit 12 s , 12% 127, 1274 AT&T 164'% 163% 163% 164 Am Wat, Wks ... 227, 22'% 22'% 22'% Col Gas & Elec. 1974 1 9'% 1974 19 s , Comm & Sou ... 33 3 ®/ 8 Consol Gas .. 33% 33% 33% 33% Elec Pwr & Lit . 1574 18% 15% 1 •*’-.< Int Hydro Elec.. 5 5 5 4% Int TANARUS& T . . 16% 167, 1674 16% Nat Pwr & Lit. 11% 11% %1% 11% North Amer .... 27-% 27% 27% 27 s , Pac G& E 36% 36% 36V, 36V, Pub Serv N J .. 41% 41% 41 74 41% So Cal Edison 26 s , 26% 267, 26 s , Stone & Webster 18% 18% 18% 18' 2 United Corp 774 77% 77% 7% Un Gas Imp .. 16 s /, 18% 16% 167% Western Union . 877s 877% 87'% 87 NRubbers — Goodrich 749% 1974 1974 19% Goodyear 29 74 29 2S 2874 U S Rubber . 29'% 2974 29% 29'% U S Rubber pfd 77% 77 V, 77% 77 Miscellaneous— Am Mach & Fdy 24% 25% 24% 25% Brklyn Man Tr 30 49% 50 49% Burriughs Add • • 27% 2774 2774 27'/, J I Case 148% 148 148 146 Conti Can ... 80% 80% 80% 81 Caterpillar Tract 74 74 74 74V, Curtis Pub . ... 21% 21'% 2172 21% Foster Wheeler.. 34 34 34 3374 Inter Harv 85'% 85% 8574 85 Natl Cash Reg... 26% 2674 26% 2674 Rem Rand 207% 207% 207% 21 Underwood E .. 91 90 91 90 Foods— Am Sugar ..1... 53 53 53 53 Armour 5% 5% 5% 5% Borden Prod .... 28 27 s , 27% 28 Cal Packing ... 34% 34% 34% 3474 Cont. Bak ‘A’... 17% 17 s , 17% 17% Corn Prod ... 72 72 72 71 s , Cuban Am Sug... 11% 11% 11% 11% Gen Foods 3574 3574 25%. 35',4 Gold Dust 20 20 20 20 O W Sugar 34% 347% 34% 3474 Natl Biscuit ... 34% 34'/, 34% 34', Natl D Prod 237% 23% 23% 23% S Porto Rico Sug 32% 327% 32% 32% Std Brands 16% 16% 16% 1674 Union Fruit ... 747* 7474 7474 74 Retail Stores— Allied Stores ... 8% 8% 8% Bs,8 s , Best, & Cos 52% 51 s , 52% 52% Gimbel Bros ... 9 s , 9% 9 s , 9 s , Gm Un Tea ... 4 s , 4 s , 4% 474 Kroger Groc .... 24 24 24 24 McCrorv St .... 15% 15% 15% 15% Mont. Ward 41% 417, 41% 41 Penney J C .. 74% 74 s , 74 5 , 74 Safeway St 31% 31'% 41 >% 41'4 Sears Roebuck .. 66% 65 5 , 65% 65% Wool worth 497% 49 'a 49 '/a 59% Aviation— Aviation Corp... 7 s , 7% 77, 77% Boeing Aircft .. 22 s , 22 s , 22 s * 22 s , Curtiss Wright . 7% 7 s , 7 s , 7% Cuitiss Wright.. 7 s , 7 s , 7 s , 7 s , Curt Wright A.. 17 s , 17% 17 s , 18 Douglas Air 69% 69% 69% 69% Sperrv Corp ... 20% 20 s , 207% 20% United Air new.. 25% 25', 25% 25 5 , Chemicals— Allied Chem .. 203% 103% 103% 104 s , Am Com A1c0... 28% 28% 28% 28% Com Solvents ... 21 21 21 21 Du Pont 149 5 , 149% 149 s * 148'% Liquid Carb 38 s , 38 s , 38% 39 Monsanto Chem 101 101 101 107% Natl Dis new . 31 s , 31% 31 s * 31 s , Schenlev Dist 45 s , 45 s , 45% 45% Tex Gulf Sulph 35 35 35 34 s , Union Carbide . 83% 83 83% 83% Drugs—i U S Ind Alco .. 48% 48% 48% 47 s , Bristol Myers . 48 48 48 487, Cotv Inc 6 s , 6% 6% 6% Lambert . .. . 22 5 , 22% 22% 23% Sterling Prod . 71 71 71 71% Un Drug mew). 14% 14% 14 1 a 14% | Vick Chem . ... 44 5 , 44 5 , 44 5 , 44 s , Financial— Adams Exp .... 12% 12% 12% 12% Chesa Corp 66 66 66 67% Lehman Corp .. 97 s , 97 s , 97% 98 Transamerica .. 13% 13% 13% 137%

FRIDAY, MARCH 27, 1936

Building— Am Radiator .. 23V, 23 23V* 23% Gen Asphalt ... 32 32 32 32 Int Cement .. 48 s , 48% 48% 48 Johns Manville 113 113 113 113 Libby Owens Gls 59% 59 59% 59% Otis Elev 29 s , 29% 29 s , 30 Congoleum 42 41 s , 42 42 Servel Inc ... 22% 21% 22% 22 Simmons Bed .. 31 30 s , 30 s , 30 s , Textiles— Amer Woolen .. 10'% 107% 10% 10'% Belding Hem ... 15 s , 15% 15% 15-, Celanese Corp . 28% 287, 287, 28% Chicago Stocks (By Atkins. Hamill & Gates) 11:30 Prev. A. M. close. Advance Aluminum 8% 8% Asbestos Mfg 4 s , 4% Fustian-Blessing n% ns, Berghoff 11% n Butler Brothers 9 s , io Cent 111 Pub Service pfd 597, 59 Chicago Yellow Cab 26 26 Cities Service ... s'/, 5% Commonwealth Edison 104% 1047 2 Continental Steel 42V, 42 Cord 7% 7% Crane 25% 25% Dayton Rubber 13% 13% Electric Household 15% 15% General Household 5 % ss,5 s , Godchaux Sugar 'A’ 35 s , 35% Jarvis Mfg 22% 22 s , Katz Drug 35% 36% Lincoln Printing 87, .... Lion Oil Refining 14 13 Nachman Spring Filled 14% 15V, Nat Gypsum 62 63% Noblitt-Sparks 31V* 32 Northwest Bancorporation .... 11% 117% Signode Steel 12% Standard Dredge pfd 16 16 Swift International 317% 31 s ', New York Curb , (By Atkins, Hamill & Gates) 12:30 A. M. Prev. N. Y. close. Aluminum Cos. of Amreica ....141 144 5 , Am. Cyanamid "B' 1 36V4 36% Am Gas & Electric 39 39V, Am General 9% 9 s , Am Superpower 2% 2 s * Ark Natural Gas “A” 7 7V* Atlas Corp 137% 13% Canadian Indust. Alco “A”... 10 10 Carrier Corp . 10 10% Creole Petroleum Coro 20 29 s 4 Crocker-Wheeler 12% 13% Elec Bond & Share 23% 24% Fisk Rubber 774 7'4 Glen Alden (1) 14% 15 Greenfield Tap & Die Corp.... 87% 9 Gulf Oil Corp of Penn 94 95 74 Humble Oil & Refining Cos 72 73 Hvgrade Food 4'% 4% Imperial Oil of Canada 22 s /, 22 s , Lake Shore Mines 53 5 /, 53% Mead Johnson & Cos 103 1057% Molybdenum Corp of Amer.... 10V, 10% Natl. Bellas Hess. Inc 2% 2'% Niagara Hudson Pwr 9% 9% Pan-American Airways 56 60% Pennroad Corp. 4% 4^ Reliable Stores Corp 18% 19% Root Petroleum 18% 167, St. Regis Paper Cos 4% 5 Salt Creek Producers Assn 87% ... Sonotone .. 33 Standard Oil of Ohio 31 31'/, Stutz Motor Car of Amer 29 29% Tubize Chatillon Corp 7 7% Wayne Pump 27 27% Investment Trusts (By Thomas D. Sheerin & Cos.) Bid. Asked. Administered Fund 2nd $16.89 $ 17.97 Affliated Fund, Inc 2.00 2.18 A uierican General Equities .. 1.10 1.12 .-.merican Business Snares ... 1.19 1.29 Bullock Fund. Ltd 18.40 20.00 Century Shares Trust 27.23 29.28 Collateral Tr Shares ‘A’ 6.63 6.70 Corp 'AA' or ‘Accum’ iMdot. 3.36 3.40 Corp ‘AA’ or ‘ACC’ (Unmod). 2.69 2.72 Corp Trust Shares (Origi ... 2.83 2.87 •Deposited Ins Shares 'A' .. 4.20 4.28 •Diversified Trustee Shrs 'B'. 4.20 4.28 •Diversified Trustee Shrs ‘B\ 10.55 , 10.65 Diversified Trustee Shrs ‘C’.. 4.56 4.60 Diversified Trustee Shrs ‘D’.. 6.87 6.95 Dividend Shares, Inc 1.67 1.80 •Incorporated Investors 22.55 23.91 Investors Fund Amer 1.07 1.17 Market St Investment Corp.. 31.34 32.98 Maryland Fund 19.45 20.98 Massachusetts Investors 25.80 28.04 Nation-Wide Sec Cos B’ 4.39 .... ♦Nation-Wide Voting 1.79 1.93 North American Tr Shrs 1955 3.34 3.38 North American Tr Shrs 1956 3.30 3.34 No American Tr Shs lOrigj.. 2.60 3.63 Quarterly Income Shares . .. 1.58 1.73 Representative Trust Shares. 12.60 Selected Amer Shares, Inc .. 1.58 1.73 Selected Amer Shares (Orig). 3.69 .... Selected Cumulative Shares.. 958 9.68 Selected Income Shares 4.97 5.07 State Street Investment Corp 99.25 104.25 Super-Corp of America ‘AA’ . 2.81 2.84 Super-Corp of America ‘3l/ . 2.85 2.88 Super-Corp of America ‘A’ .. 4.25 4.30 Super-Corp of America ‘B‘ . 4.44 4.49 Sup-Corp of Amer 'C' and ‘D’ 8.14 Supervised Shares. Inc (Del). 1.69 1.85 Trustee Standard Oilshrs ‘A’. 7.60 7.70 Trustee Standard Oilshrs ‘B’. 6.85 6.95 Trustee Standard Invest ‘C’ . 2.99 3.0.3 Trustee Standard Invest ‘DV 2.93 2.96 Universal Trust Shares 4.31 Uselps ‘A’ 18.90 19.20 Uselps ‘B‘ 2.92 •Uselps Voting 1.14 .... United Standard Oilfunds ... 1.37 1.50 •Ex-dividend. Chicago Grain Futures (By James E. Bennett & Cos.) 9:00 Prev. Wheat—. High. Low. A.M. close. May 97'/, ,96 s * .97 V, .96% July 87% .87'/, .87% .8774 Sept 86% .86'/, .86% .86 Corn— May 59'i .59 .59V, .58% Julv 59% .5974 .59% .59% Sept 59% .59 7-4 .597% .59'/, Oats May 25% .25% .25% .25% July 26% .26'/, .26'/, .26'/, Sept 26% .26% .26 s /, .26'% Rye— May 52'4 .52% .52V, .52 July 51% .51% .51'A .51% LOCAL CASH MARKET Citv grain elevators are paying 90 cents for No. 2 soft wheat. Otnsr grades on their merits. Cash corn new No. 4 yellow 48 cents and oats 19 cents. THOMSON & M'KINNON INSTALL NEW SERVICE New York Curb Transactions Carried on Trans-Lux. The first Trans-Lux movie screen in the state to be used in connection with New York Curb Exchange quotations was put in operation today at the local offices of Thomson & McKinnon in the Circle Tower. Henry Holt and John Jordan, Indianapolis partners of the brokerage house, announced that a substantial increase in trading on the New York Curb prompted installation of the new service as a convenience to the firm’s local clients. With the recent opening of a branch office at Atlanta, Ga„ Thomson & McKinnon now has a total of 38 offices along the Atlantic seaboard and extending to Chicago and other Midwest cities.

ATKINS, HAMILL ft GATES MEMBERS New York Stock Exchange New York Curb Associate Chicago Stock Exchange Chicago Board of Trade 204 ELECTRIC BLDG. Riley 7521

FIRST MORTGAGES

SWINE VALUES MOSTLY STEADY AT CITYYARDS Few Scattered Sales 5 to 10 Cents Higher; Veal Market Strong. With the exception of a few scatj tered sales around 5 to 10 cents higher, the pork market again continued stationary today at the Indianapolis Union Stockyards. The top price paid for good and choice grades moved up to $10.90. A moderate increase in the total number of receipts which was estimated at 5000 w-as offset somewhat by an improved demand prevailing for the various classes. Holdovers numbered 267. The general bulk of 160 to 225 pounds cashed in at $10.70 to SIO.BO. Medium heavyweights, scaling from 260 to 300 pounds, were salable at $10.05 to $10.30, while extreme weighty classes, from 300 to 400 pounds, sold at $9.50 to $9.90. In the lightweight division, slaughter pigs from 130 to 160 poundc. brought $lO to $10.50. Packing sows held at $8.75 to $9.40. A strong undertone developed in the cattle market, with steers and heifers firm and cows strong to largely 25 cents higher than yesterday's average. Bulk of steers sold at $7.25 to $8.35. Heifers rangecj from $8.50 down, while beef cows brought $5.50 to $6.50. Receipts numbered 500. Despite a liberal supply on hand, the veal market was sharply 50 cents higher. Bulk of good and choice grades sold at $8.50 to $lO. Receipts numbered 700. Lambs were mostly steady with the top around 25 cents lower. Bulk of better grade fed western lambs sold at $10.25 down. Slaughter sheep were scarce, quotably steady. Receipts were 600. v HOGS Mar. Bulk. Top. Receipts. 21. $10.90(6; 11,00 $11.15 1000 23. [email protected] 11.00 5000 24. 10.08® 10.90 10.90 5500 25. 10.70® 10.80 10.90 4000 26. [email protected] 10.85 4000 27. [email protected] 10.90 5000 Light Lights il4oM6oj Good and choice. .slo.oo® 10.65 Medium [email protected] (160-180) Good and choice.. 10.65(6 10.90 Medium 10.20®10.65 (180-200) Good and choice.. [email protected] Medium [email protected] (200-220) Good and choice.. 10.70(610.90 (220-2501 Good and choice.. 10.45® 10.70 Heavyweights (250-290) Good and choice.. 10.05®10.45 (290-350) Good and choice.. [email protected] Packing Sows 275-350) Good 9.25® 9.40 (350-425) Good 9.00® 9.35 (425-550) Good 8.85® 9.25 (275-350) Medium 8.50@ 9.25 Slaughter Pigs (100-140) Good and choice.. 9.25®10.00 Medium 8.25® 9.50 CATTLE —Receipts, 500— (550-900) Choice $ 9.25® 10.50 Good 7.75(6! 9.75 Medium 7.25@ 8.50 Common 5.75® 7.25 (900-1100) Choice 10.00(611.25 Good 8.50®10.00 Medium 7.25® 8.75 Common 6.25® 7.25 (1100-1300) Choice 10.50(611.25 Good 8.50(610.50 Medium 7.25® 8.75 (1300-1500) Choice [email protected] Good [email protected] Heifers (500-750) Choice B.oo® 9.00 Good 7.75® 8.25 Common and medium 5.75® 7.75 (150-190) Good and choice.... 7.75® 9.00 Common and medium 5.75© 7.75 Cows Good 6.00® 6.75 Common and medium 5.00® 6.00 Low cutter and cutter 3.75® 5.00 Bulls, good 6.25® 6.75 Cutter, com. and med. bulls... 5.25@ 6.25 VEALERS —Receipts, 700Good and choice $10.00®11.00 Medium 8.00®10.00 Cull and common 6.00© 8.00 Calves (250-500) Good and choice ... 6.25® 9.25 Common and medium 5.00© 6.50 Feeder and Stocker Cattle (500-800) Good and choice 7.00® 8.25 Common and medium 7.50® 7.25 (800-1050) Good and choice.. 7.25® 8.65 Common and medium 5.50® 7.25 Cows Good 4.75© 5.25 Common and medium 4.50© 4.75 SHEEP AND LAMBS —Receipts, 600—• Lambs, 90 lbs. down, good and choice .$ [email protected] Good i [email protected] Medium 9.00® 9.75 Common 7.75© 9.00 Ewes (90-170) Good and choice... 4.50@ 5.50 Common and medium 3.50© 4.50 Yearling wethers, good choice. 8.90® 9.25 Medium 7.75© 9.00 REPORTS NET LOSS Times Special NEW YORK. March 27.—The Boeing Aircraft Cos. and its subsidiaries today reported a net loss of $333,799 for the year ended Dec. 31, 1935. The company also reported unfilled orders at the end of the year valued at $6,141,203. DECLARES DIVIDEND Times Special NEW YORK, March 27.—Directors of Gimbel Brothers, Inc., have noted a dividend of $1 a share on account of accumulations on the preferred stock, payable April 15 to stock of record April TO.

ciirr deposit dfif L DEPARTMENT American National Bank AT INDIANAPOLIS Member Federal Deposit Insurance Corporation

HOME OWNERSHIP AID! The financial help you need to realize your desire to own a home of your own can be obtained here in the form of a first mortgage loan. Arrangements for this constructive financing aid can be made through us quickly and without complications of any kind. We have ample funds available and our service is unexcelled. The UNION TRUST COMPANY LOAN DEPARTMENT ISC E. Market Si. El. CM!

New York Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX 20 20 20 60 Inds. Rails. Utils. Bonds. Todav 91 9 92.7 105.1 90.6 Yesterdav 91.9 92.5 105.1 96 5 Week ago 91 9 92.5 105 1 96 5 Month ago 92.8 93 6 104 8 97.1 Year ago 83.8 73.1 93.7 83 5 1936 high 93.4 95 6 105 5 97 9 1936 low 91.5 84.7 103.5 93.3 iCopyright. 1936, Standard Statistics) IT. S. GOVERNMENT BO*ns (By Abbott. Proctor & Paine) Treasury! Prev. Close Close 4' ,s 1947-52 117.23 117.16 4s 1944-54 112.18 112.19 3% S 1946-56 111.2 111 3% s 1940-43 108.18 108.18 3%S 1943-47 108.10 108.6 3%s 1941-43 109 108.31 3',s 1943-45 107.28 107.23 3%s 1941 109.1 108.25 3%s 1944-46 107.16 107.14 3%S 1946-49 105.23 105.15 3%S 1949-52 105.18 105.15 3s 1951-55 104.11 104 4 3 s 1946-48 104 26 104 8 2%s 1945-47 103.1 102 26 2%S 1951 102 101.26 Heme Owners Loan Corp. 2%s 1949 101.26 101.17 3s 1952 102.29 102.18 Federal Farm Mortgage Corp. 3'As 1964 104.9 104.2 3s 1949 103.6 102.24 3s 1942-47 103.18 103.10 2%s 1949 102.0 102.2 DOMESTIC Prev. Close Close Alieg Corp 5s ’44 93V, 93 Alieg Corp 5s '49 87 87', 2 Am Frgn Pow 5s 2030 77% 77 Am Tel & Tel 5%s 43 113% 113'.% Am Tel & Tel 5s ’65 112 V, 112 Arm & Cos (Del) 5%s ‘43 97 97'% Atl Coast Line 4s ‘52 99 98% Atl Coast Line 4%s ‘64 84% 84% Atch Top & S Fe 4%s ‘4B 111'/, 111 1 , Am Wat Wks 5s ‘44 108 108% Am Rolling Mills 5s ’3B 120% 121 Balt & Ohio 6s ’95 94 93V, Balt & Ohio 4'%s ’6O <... 71 74'A Buff Roch & Pitt 4%s ’57 78 78 Beth Steel 4>,s ’6O 106 106 Chi Milw & St P 5s ’75 23'% 24% Chi Milw & St P 5s 2000 7'% 7% Cleve Un Term 5s ’73 106% 106% Cleve Un Term 4%s ’77 101% 107% Col Gas 5s May ’52 104 103la Col Gas 5s ’6l 103'/ 2 103% Can Pac Perp 4s 93 92 s , Cent Pac 5s ’6O 96% 97V, Big Four 4%s ’77 90 90 Colorado & So 4Vis ’BO 75 74 Chi & West Ind 4s '52 104 104'A Chi & West Ind 5%s ’62 107 107'% Chi & Nor West. 4%s ’49 152 142 Con Gas 5s '57 104 104'/, Chesa Corp 5s ’47 ....130'% 129 N Y Dock 4s ’sl 69V, 69% N Y Dock 5s *3B 67% 67% Erie 5s ’75 77% 78 Erie 5s ’67 78'% 78% Gen Cable sVis ’47 105 105 V, Grt Northern 7s ’36 101% 101% Grt Northern 4>%s ’76 101% 102 Grt Northern 4V 2 s ’77 101 101 Vi Hud & Manhat Ref 5s '57 85 86>/i 111 Cent Jt 4 V 2 s ’63 79 79 111 Cent 5s ’63 84'/, 84 Interlake C & I 5s ’sl 95V, 95% Tnterntl Hv Elec 6s ’44 56% 54% Interntl Tel & Tel 4Vis ’39 95% 96% Interntl Tel & Tel 5s ’55 89 89V, Interntl Tel & Tel 4%s ’52 ... 83% 83% P Lorillard 7s ’44 132'% 131 McKess & Rob s'As ’SO 103% 103% Natl Dairy 5%s ’4B 103% 103% Natl Steel 5s '56 105% 106 Nickel Plate 4'As ’7B 82% 82% Nickel Plate sVis '74 94% 94% N Y Cent 5s 2013 91 90% N Y Cent 4%s 2013 (old) 85V, 84V* Nor Pac 3s 2047 82% 82 Nor Pac 4%s 2047 101% 101% Nor Pac 6s 2047 110% 110 Vi New Orleans Term 4s '53 .... 92% 92 Otis Steel 6s ’4l 102% 102% Penn Rv 4%s ’B4 108% 109 Penn Ry 4'As ’Bl 108% 108 Vi Penn Ry 4'As ’7O 102 102 Pac G & E 5s ‘42 103 103% Portland Gen El 4%s '6O 71% 72 Para Publix 5%s ’SO 91 91 Penn P & L 4%s ‘Bl 106% 106% Postal Tel & Cab 5s '53 35% 35Vi Rem Rand WW 5%s ’47 104 108'/, Sou Pac 4'As ’6B 89% 88 Sou Pac 4'As ’Bl 89% 88% Sou Pac 4Vis ’69 89 89% Unlisted Stocks (By Blyth & Cos.) NEW YORK BANK STOCKS , Bid. Ask. Bankers Trust 62% 64% Central Hanover 113% 115% Chase 40V, 41% Chemical National 58% 59% Guaranty 289 293% Irving 16 17% Manufacturers 52 53% National Citv 36'/, 37% Cont 111 Chicago 168 171 V, First National Boston 45 5 /, 47% National Shawmut 29 30% FIRE INSURANCE American Ins of Newark 15% 17V* Baltimore American 8% 10% City of New York 27 29 V, Federal Ins 49 52% Franklin Fire 31% 33V, Great American Ins * 30 31% Hanover Fire Ins 37% 39% Hartford Fire Ins 77% 79% Home Ins 37% 39 V, Ins Cos of A 73% 75 'A National Fire 75 77% National Liberty 27% 29% North River 27 % 29 Phoenix 83'A 91% U S Fire 85 57 V, Westchester Fire 37 39 V,

n 7 FINAL USED CARS

WIN A USED CAR —RULES—1. Find oat how many ads each firm has in today's Times L*ed Car Ads. 2. Visit at least one nsed-ear showroom or lot of one of the advertisers in today’s used car columns and write a suggested ad about a used ear NOT advertised in today’s Times. Begin the ad with the make of the car and describe the car fully. 3. Entries must be In The Times Want Ad office not later than Tuesday, March 31st, at 6 p, m. Entries received later will not be counted in the judging. 4. A credit of 8250 will be issued to the winner, who may use it to buy a used ear for that amount, apply it as part payment on a higher priced used ear or apply It as part payment on anew ear. The credit may be used onlv with a dealer participating In The Times Final Winter Clearance of Used Cara feature. 5. Neatness and ortgiMltty of presentation will be counted in the judging. No entries will be returned snd The Times ran not enter into any discussion of entries. The decision of- the judges will >e final. 8. The contest Is open to an* eit other than emoloyes of The 'Times and Indianapolis automobile dealers.

Due to the worst ice blockade in years, shipping on the Great Lakes is likely to he retarded for several weeks. Only the lower half of Lake Michigan is comparatively open.

Sou Pac 4s '49 89 s , 89 s , &oa Rail 4s ‘56 63 63% Sou Rail 6s '56 79% 79 Sou Rail 6%s ‘56 84 83 Sharon Stl Hoop 5%s ’4B ..103% 103% Texas Pac 5s ‘79 101% 101", Texas Pas 5s ’77 102 102 Union Pac 4s ’47 113% 114% United Drug 5s '53 100% 100', U S Rubber 5s '47 105 s , 105 s , NY NH & Hart 6s '4B 36 36 NY NH & Hart 4%s '67 35% 35 Warner Bros 6s '39 96 6% Western Marv 4s '52 ... ....100% 100% Youngstown S & T 5s ’7O 106% 106’, Youngtwn S & T 5s '7B ....105% 105% FOREIGN Argentine B 6s 'SB 100 99 s , JJaazil 8s '4l 31% 32 Canadian Govt 4f ’6O 107 s , 108% Denmark 5%s '55 101% 101% German 5%s '65 27 s , 28% German 7s 49 34% 341, Italy 7s 'sl 70 s , 71 Japan 6%s '54 95% 95% Poland 7s '47 107% 107% Rome 6%s '52 61% 61% Tokio City 5%s '6l 83V* 83V* INDUSTRIAL EXHIBIT PLANS COMPLETED Holliday & Cos. to Observe Eightieth Year. The W. J. Holliday & Cos., Indianapolis distributors of iron and steel supplies, have completed plans for an industrial exhibition to be held at the local plant, 545 W. McCartyst., 'on March 27 and 2° in observance of the eightieth anniversary of the company, it was announced today. Exhibitors are to compete for prizes to be awarded for the most attractive displays. The American Rolling Mill Cos., Middletown, 0., one of the local company's suppliers, will exhibit stainless steel sheets showing three of the most widely used finishes, including the mirrorfinish sheet. Various grades of sheet metal will be displayed on a revolving table. They will include the widely known Armco iron, hot and cold rolled steels, stainless steels, Armco enameling iron, electrical sheet steel and galvanized Armco ingot iron. RAIL EARNINGS CLIMB Substantial Increase S own for First 11 Weeks of 1! 16. Times Special CHICAGO, March 27.—Freight and passenger earnings on the Grand Trunk Western Railroad showed a substantial increase during the first 11 weeks of the current year in comparison with the similar period of 1935, it was learned today. In freight an upward trend is visible in manufactures and raw materials. There is activity in the important industrial and produce territory served by the Grand Trunk in Indiana, Illinois, Michigan and Wisconsin.

ABBOTT, PROCTOR & PAINE MEMBERS New York Stock Exchange Chicago Board of Trade New York Curb Exchange Chicago Stock Exchange New York Cotton Exchange Chicago Mercantile Exchange New York Produce Exchange Commodity Exchange, Inc. New York Cocoa Exchange, Inc. Montreal Curb Market New York Coffee & Sugar Exchange, Inc. 8 EAST MARKET STREET INDIANAPOLIS TELEPHONE, RILEY 5491 NEW YORK CHICAGO BOSTON, MASS. MONTREAL. CANADA RICHMOND, VA. ANDERSON. IND. CLEVELAND. O. APPLETON. Wig. BRISTOL, VA. ROANOKE. VA. CHARLOTTE. N. C. DANVILLE. VA. STAUNTON, VA. NEWPORT NEWS. VA. NORFOLK, VA. KNOXVILLE, TENN. PETERSBURG, VA.

Final winter clearance of used cars offers your best opportunity to buy a car at rock-bottom prices. Dealers have reduced prices especially for this event. And the alphabetical listing of hundreds of good "buys” makes it easier to select just, the car you want.

TODAY'S OFFERS ON PAGE 38 The Indianapolis Times

Lake Shipping Retarded

INDUSTRIALISTS RAP NEW DEAL REFORMPOLICY Association Says Business Can Not Provide Work for 9,000,000. Bp Veiled Pres* NEW YORK. March 27.—1f the New Deal would place recovery ahead of social reforms between $50,000,000,000 and $80,000,000,000 in capital would be available for expansion, the National Manufacturers Association said today. The announcement was a reply by the association's directors to President Roosevelt’s recent message to Congress urging absorption of unemployed by industry. The announcement said that “persecution” of industry “by politicians, legislative experiments and other obstructions’* had curtailed the use of idle capital. “Its (industry's) hitherto unexemplified efficency has been the occasion for continuous attacks by public officials on its technology,” the announcement said. “It has been excoriated and libeled, singled out for overwhelming and discriminating taxation, made the constant subject of restrictive, costly and injurious legislative experiments and berated because its native speed has lessened as its pathway was crowded by political obstructions.” It added that an additional 2,000.000 workers would bring manufacturing employment to the 1929 maximum, “and it is thus obvious that manufacturers can not provide work for 9,000.000 or more jobless.” GARY STEEL INCREASE PRODUCTION Rush Orders From Flood District Boost Operating Rate. Times Special GARY, Ind., March 27.—Steel plants in the Calumet district have boosted production above normal capacity because of rush orders transferred from Eastern mills, shut down because of the severe flood conditions, it was announced today. The Gary Sheet Mill, a subsidiary of the American Sheet and Tinplate Cos., is expected to operate 18 out of 21 passible eight-hour shifts this week. Normal operations call for six shifts a week. Mills of the United States Steel Corp. have reported production at the highest peak since 1931. The Inland Steel Cos., East Chicago, currently operating at 94 per cent of capacity, expects additional work this week as a result of the Eastern flood situation.