Indianapolis Times, Indianapolis, Marion County, 1 June 1936 — Page 11

sola — Trends Platform Makers

Face Delicate Tasks.

lee BY JOHN T. FLYNN ee

EW YORK, June 1—The Dias form makers must settle down quickly to the business of making planks for the party platforms. As they do, the ghosts of old platfarina will certainly rise to plague

Patforms setting out party policies deal as a rule with a certain definite classification of subjects. First there are internation a 1 questions and national ones. The latter cover (1) political questions, (2) economic ques_tions, (3) national defense, (4) ‘social questions and (5) moral questions. In different election ¢c am - paigns one type of problem invariably looms larger than others. In 1916, Wilson’ policies to keep us out of war were the dominant issue. In 1920 it was the League of Nations. These were international questions. In 1928, when Al Smith ran—despite other issues—it was the moral issue, prohibition, which had first place. In 1892 it was an economic question—the tariff. In 1896 it was another economic question—bimetalism,

OWEVER, one may look back H over our history and see with only half a glance that as the years have gathered over the republic, in all campaigns, whatever other type of issue seems to be at the front, it is the great economic issues which occupy the attention of the voters. In this campaign— as in the last—this is, of course, more true than ever. And, of course, a. the plank makers get to work, the great economic issues will hold first place. In this campaign the plight of the platform makers is going to be troublesome because of the swapping of sides which has gone on these last four years. For instance, the Democrats have always denounced the Republicans for their friendliness to the business interests which wanted to nullify the anti-trust laws. But this time the Democrats will be defending the suspension of those laws and the G. O. P will denounce this action. 2 ” ”

HE Republican party has always been—save for rare intervals—the great supporter of a large navy and the Democrats have always denounced the G. O. P. for it. But this time the Democrats have authorized the greatest naval expenditures in history. For many decades the Republican party was the party of high tariffs and the Democrats were their ruthless critics. - But the tariff has been literally abandoned by the Democrats as an issue. The Republicans, in fact, have come around of late to demanding the resumption of foreign trade, while the Democrats have tended more toward a planned domestic econamy. On the farm issue the two parties aré hopelessly, mixed up. The AAA was a hodge-podge of a series of Republican proposals made in the past. Now the Republicans are greatly embarrassed by the

issue. ’ (Copyright, 1936, NEA Service)

DEVELOP PROSPECTS Times Special VINCENNES, Ind, June 1—A mortgage clinic held here last week developed $85,000 in prospective business, the sponsors of the twoday institute said today.

On Commission Row

(Quotations below subject to change are average wholesale prices being offered to buyers by local commission dealers.)

FRUIT—Strawberries. Indiana, 24-qt. crate, [email protected]. Gooseberries: Indiana, 24-qt. crate, $4. imes—Mexican, carton, 20c. Bananas—Seven hands, pound 5%c. Apbles—Winesaps (fancy baskets), $1.75. I2mons—Sunkist (300s), $8. —Imperial Valley, $3.50. Pineapples—Cubans (18-30s), crates, rapes—S. America, 20- 1b. box, $2. Honey Dews—S. America, $3. Watermelons, Florida, 90c.

VEGETA — Beans, green, round stringless (hampers), $2.15. Beets—Home Fowh n, doz. 2500. Carrots—California crate), $3. Caulifiower. California (12s crate). $2.40. Celery—Plorida washed and trimmed (doz.), c@$1.15. Florida 8s, 10s jratel, $3.50. Cucumbers—Hot house ‘(doz.). 5c. Corn—5 doz. crate. $2.75. Egg Plant— Florida (doz.), $1.50. Kale—Virginia hu. . Lettuce—Iceberg. California (best 6 y f (15-1b basket): 13,50 Hot60c Somms--pound, stard—Texas, half crate, $1.40 Qni ions Texas B Bermuda yellow, 50-1b. bag, $1.15. Parsley Southern ong bunches arships- Hom hegrown. washed, 90¢; Thaihy shel Peas—FlorPotatoes Michigan Too. lo. bag. $2.80; R. ag.

home grown lea

Oc. Peppers — Ea

Mangoes (crate), hoe: Mint—

25¢. Rutaba as-—-Northert 8 50. Sage 3.2%; Jun inips—New | 1b. box,

Texas, bu. Tom acked, so 150 ‘Texas, tons ie Hd Te lug,

FRUITS AND VEGETABLES

uce— Western, crates. $1.75 —Florida, crates, [email protected]

Produce Markets The

rices oted are for stock gathered in he country, 2hde delivered Indianapolis the price is a cent her. Heavy b hens, He:

hens, aS uthotst

Leghorn 5c Toho, sngets gee 13¢c;

ha ; Pounds and vo whiter 8 ‘0 ther, all sizes, Sc: ali 15¢ ded

ge el \ rR RR

polis, 17c. Each

pond ude” od roc wii"Se terfat, * ~ (

“.

Grapefruit | Indpi:

STOCK PRICES ARE IRREGULAR |“ IN LATE DEALS:

Steel Shares Hold Part of Gains Made in Opening Trading.

BY ELMER C. WALZER United Press Financial Editor

NEW YORK, June 1.— Prices

change late today after an early rally that carried the list fractions

Trading continued dull. Steels led ‘the early recovery. Their

were ‘aided by outlook for pickup in activity this month as consumers

third quarter price advances. “U. 8. Steel common touched 62% up 1% and others made corresponding gains. These were halved before the close. U. S. Steel preferred, an exception to the trend, lost 2% points- on a single transaction involving 200 shares. XN etorn | & Sheet & Tube made a new high Jor the year at 63 up 1% before meeting 6pposition.

Auto Section Quiet

in the automobile section, but prices were fractionally higher. accessory shares sagged with Briggs Manufacturing down more than a point. Tire shares were firm. Railroad issues started firm and rose to gains ranging above a point. They retained most of the advance. Pullman made a new high at 48%, up 1%, and then gave up half of it. Today the new passenger rates were effective and they might boost earnings of roads by increasing traffic. Utilities were mixed with a firm undertone. Traders interested were heartened by action of .19 operating utilities in the Tennesee Valley Authority area bringing suit to enjoin the TVA from operating.

Louisiana Oil Breaks

Louisiana Oil preferred stock, which recently rose from 13 to 51%, today broke to 34, off 8 points. Other oil issues were mixed in a narrow range. Sears, Roebuck gained more than a point. Mercantile issues were higher with May Department Stores up nearly Smelting was a leader in the nonferrous metals where trading was light. Some building issues made good gains with Thompson Starrett touching 32, up 4% points.

Money and Exchange.

INDIANAPOLIS STATEMENT Clearings 8 Debits 7,670,000 TREASURY STATEMENT (By United Press) WASHINGTON, June 1.—Government expenses and receipts for the fiscal year to May 28. as compared with a

year ago: This Year. . $6,520,747,442 3,578,471,409 2,942,267,033 2,374,022,093

Last Year. Expenses .. $6,444,041,106 Receipts 3,322 ,131 Deficit Cash balance Public debt . 31,639,531,576 Gold reserve 10,298,129

Customs 353,422,306 '312,343,952

FOREIGN EXCHANGE (By Abbott, Proctor & Paine) P Trev

Country ] England

Local Securities |”

BY andidua lis Bond and Share Corp.) e followin

sent actual bi s or offerings, but merely indicate the approximate market level based on buying and selling inquiries or recent transactions. :

BONDS ‘Home T & T Ft Wye 814s a

I ] ] ]

[ndianpls Water Co § Interstate T or T 5%s

Belt Rail & 8 Y Com Belt Rail & 8 Y Pfd 6 Central Indiana P

00! Inc Ind & Mich leo Co. fd 7s. .105 Indiana =F Serv qs ...

Hie

turned irregular on the Stock Ex- [Pet Co

to 2 points above the previous close. | Soc ve

gains ranging to more than a point Taew ater A

fill needs in advance of scheduled |a

2 points. American |p

22° | Allis Chalmers. .

New York S tock Exchange Prices

790,000 shares compara with 740,000 shares Friday. Curb sales were 183,000 Shisucs, sumpared with 161400 shares

averages: showed up 20; Ialireads 40.49, up 2); utilities 3 unchanged.

(By Thomson & son & McKinnoh)’ Ollis— :

apt an

FRASER

BUELL a fae

& FE

odd

w Assn. Un Oil of Cal... Steels—

Acme _ Steel Ro

Mid Natl Otis

Fiits

Warren Pipe-Fdy 24 24, Yungstwn S

Dealings lightened substantially Huds Motor | ‘Reo

Studebaker Yellow Truck ..

traders estimated |H

Timken Det’ Axle Mining— Alaskan. Jun .

Nickel Isl Creek Coal . Kennecott Cop. . McIntyre Mine. . Park Uta.

Vanadium Amusements-—

Crosley Radio .. 25% Theat 23Y% 46% 11% 8%2 6

Warner Bros ... 103%

Tobaccos-— Am Sum Tob 22% Am Tobacco “B" 94 Lig &. Myers (B) 108 Phillip Morris .. 82% Reynolds T (B).. 53% al alls

current Cc

on West ‘Maryland. . Equipments— Am Car & Fd. 3 3 Am

Loco . Bola Tao Fdy x

S854S.LE88

el eID IID

Snag ® Inc is est Air Br . stingh Elec

Utilities—

quotations do not repre-|A

Am Wat Wks Sor Gas & Bec.

Elec Pwr & Lit! Int: Hydro Elec . nisrhdre RT... Int T & T

td. Gas Stone & Webster United oor rp . Un Gas Imp Ut Pwr i Lt A’. Western Union.. Rubbers— Firestone .... Goodrich ....... 2 Goodyear Tew .e U 8 Rubber .... U.8 Rub pid ... Miscellaneous— °

R2 FR ST

Can .

SaaRusnel

833s

Fak FER NETER

28 4

Ede

industrials 152.84,

Vick os * | Zonite a

| Tr Contl

| Am Radia

8% 1 .

un. bre mew). 1. oe Adams Ex Iv Borp : ! 10%

I nt Cement .... 41% ohns

’* | Alleghany

“nt Gory

Letoan Lehman Cory

| J Ile . 97 Libby Owens Gl. 53% 53

N.Y. Bonds

a DAILY BOND INDEX.

8, insists BRESoIIoEs hea pa papa Cf aed GEIR LO

Coby ant, 1936. "by Stan

U8. er prodies 4 BONDS (By: Ab Proctor & Paine)

Cleve Un ‘Term 5: Cleve Un Term 4%s 17 ... Col Gas 5s May ’52 Col Gas Ss A ril Col Gas 5s ’61 Can Pac Perp 4s Sout Pac 5s ’

Natl 8 Nickel Plate 4 SY Plate Sits en

WW § 2 “4 She 'pur Union Oil 8 un : 4%s 68

egrescnetinns

Youngstown Youngstown S

(By Thomas. D. Sheerin & Co.)

Be 5109000 RB Tr rate 2ankiuazsaas

Boras

2 3

a seeessaatEt

sesbacenany

Cesssevesisaney

. Bonds ‘96

onus BRE. pias 2

Fo ramn SLeNIS

g on

idard Statistics)

% 9 6 |] HE

gs Syn 3 in Bik. % 4%

3% i

FEF

By 44Y

NReRBRe BER

FE SRS

26 a 12%

Ln Stocks

(By Atkins,” Hamill & Gates)

1 nN

ance ssoc I

Berghof T Butl lids er TS Chicago Yellow Cab Cities Service | ‘Edison

Libby Mei ‘& Libby . incoln Printing

i : New York Curb . (By_ Atkins, Hamill & Gates) Close Aluminum Co of America.

Am Cyanamid (B) Am gas & Rui C .e

04.20 | Am,

Investment Trusts

iki

® =

11 Cael Bais wrt wien: 21 pbRESE Eakhat 33 BER :

4 September ° :

Supe : yg Natural 1 Gas A)’ Atl

as San ads: Alcohol (a)

| Creole: pets Petroleum Corp. . Sr ocker-Wh Bond i Share. . Flo ok R

ubber Ford Sotors Can (A) Sen Al gen f Oil Co! f Penn ro Hamed Ss Refining Co... r’s 0 de Food vid

8 0 ur Salt a anor Co. Assn... Segal Lock SoncAone Stanasrd Oil of Ohio tutz Motor Car of Amer Be ntonlon: Inc Wayne Pu

® ® Commodity Prices (By Abbott. Proctor & Paine) NEW YORK Low Close 11.57 11.59 10.60 10.49 10.48 10.52

0.54 10.48 10. Miaditngs, 11.79.

NEW ORLEANS

ay Spot, up 2.

May 10.47 10.47 Spot, up 2. * Middlings, 11. 98. NEW YORK COTTONSEED OIL

Pre Hl h Low Close

8.80 January 8.70 89

Prev. Close. © 2.88

8 Low. Close. 2. 2.85 : 2.76

: 2.88 281 2383

Prev, Close. 8%

Erev.

Car Sales Gain 54 Per Cent, | Survey Shows.

‘Business in general increased sharply in Indiana during the first quarter this year compared with the same period a year ago, according to a national survey released today by McGraw-Hill : publications of New York. - life insurance’ sales and farm income were the only excep- |g tions to the general trend. The de-

‘Heavy construction was second with a gain of 53 per cent, and

OY: m

STATE USNESS UP | £53 FOR a

crease ih these lines amounted to 1000

PAGE 11

LITTLE CHANGE

IN QUIET TRADE

Prices Close Fractionally

Lower Despite Early - Advance.

By United Press CHICAGO, June '1.— was quiet today in the wheat pit, and prices held about steady on the Board of Trade. . At the end wheat was unchanged to off % cent, corn was off % to % cent, and oats were off % to % cent. Wheat prices dipped in early trading but rallied a few minutes after the opening under scattered commission house buying and fair demand from local traders.

Interest Is Light

There was little in the overnight news to guide operators and interest was lacking throughout the session. Light precipitation was reported

7 | in the dry Northwest wheat section

and in parts of the Southwest wheat belt and generated early selling. The recovery movement was credited to a bullish report issued by the Department of Agriculture which indicated an uncertainty as to whether the United States would be faced with a sufficiently large exportable

e. | surplus to reduce prices to export

levels. Corn Prices Ease

Corn prices eased under scattered selling by commission houses and the undertone was easy throughout the session. There was some buying of September corn against sales of July in early trading. Oats eased in sympathy with corn prices in featureless trade. Scattered selling in small amounts affected prices and the market

? | showed a weak undertone from the

start. Rye moved within a narrow range in a dull market. (By United Press) . Low. Close. 84 314 84Ys 4, 85%

Prev. Close.

84Y, 84% 86%

Wheat—

8614 59% 57 52%

24%a .25%a

59 57 52%

.53%Db 537%b

uly Sept. a Ask. b Bid.

CHICAGO PRIMARY RECEIPTS

869,000 299,000

a abs jo. 1 red, 89@90

c; NO. Gon Eady;

0. 2

No. | tee;

"Rural retail sales in the United States were: sent higher for the first four months of 1936 than for the corresponding period of last year.

per The greatest

gain, 1 8 per cent, was registered in the Far West.

* Busigraphs

" BUILDING MATERIAL PRICES MAY OF EACH YEAR

V, 5. DEPT, OF LARQR INDEX

. 1930 1931 1932 B33 W934 1935 1938

PARKER CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS

™E

For the nine years from 1925 through 1933 the trend of building material prices was very steadily downward. These prices now stand nearly 20 per cent above the low of 1933 and ‘just slightly above a. Year ago. The cost of building labor also increased somewhat during Pas last year, resulting in a slightly higher level of building costs. Mortgage money is more plentiful, rents are. increasing and building material prices are gaining slightly. No wonder, under these conditions, more people are building.

HOOSIERS TO DO RESEARCH WORK

14 State Building and Loan Executives Appointed on Committees. |

Fourteen Indiana building and loan executives have been named on committees which are to conduct special research in the home mortgage field, L. W. Pellett, Newburg, N. Y., United States Building and Loan League president, announced today. The league is to formulate its future policies from the findings of the committees, Mr. Pellett said. Fermor S. Cannon, Indianapolis, Railroadmen’s Federal Savings and Loan Association president, is to serve as chairman of the national publicity committee. Myron H. Gray, Muncie, is" chairman of the attorneys’ division.

Greene Is Honored

Fred T. Greene, Indianapolis Federal Home Loan Bank president, is a member of a special drafting committee. R. H. Wertenberger, an

% | officer of the same bank, is on the committee to investigate building |.

and loan association accounting problems. Other Indianapolis. men appointed are: Charles R. Yoke, Fletcher ‘Avenue Saving and Loan Association, on Chamber of Commerce committee; Lisle 'W. Tinsman, Railroadmen’s, on cup contest committee; Leo F. Welch, Celtic Savings and Loan Association No. 3, on economic policies commitGeorge Ogden, - executive

@s8c: secretary of the Savings and Loan

Sra@sse. hite. ase: No. 3 white,

‘LOCAL CASH MARKET grain e Slévalors an aying 85 cenis 0. 2 her grades on their merits. Bo a new No. 3 vellow 56 cents and oats 18 cents.

(By United press) Sra. Whaat. 58%c; No. § a Soasodes: ow; C3 a . 5 Je ellow, *5% . 3 Wilite No. 5

Ht als 25 "3 acs No $ veitow: sate. 3 No: “4 Yolo rovisions: Lard—$9.90 Dominals: Sash

$0.21 27 bid; leat. $0.12 ask; bellies, $1.25

grain

nl] June close: elevators—transit bill a

DG 00s, 29¢c; No. 3 white, Qate-ohe:

Other Livestack

- (By United Press) CHICAGO. | une nd 1. — Hogs — Receipts; 19,000, dir:

incl ing S000 rects; steady 5c higher ya a0. bus average; a es 10c her to 160-250 1bs., -320 Hi $9.75@10; 140Se 1bs., 54.1810; sows generally $8.75@ 9.15% top, $9.25. Cattle—Receipus, 15,000 ipts, Year scalf

: ng Fi under Bressure; gatly top Weighty steers.” 75; year .65 held higner; heifers, $8.25 to $8.35; some tew fea offerings under $7; * wutis steady at $6.25 down, but Ww eak - 25¢ lower at $9 down to $7.

8 Ny i

ering | Mo lamb, 81 Thea an rig “hicks en ling, 50 0 Mm 5; sd yeanine Ww (By i pecialy ot, Rp June 1.—Cattle—Rece y including 111 billed throu; steers and ers »

League of Indiana, committee on insurance of accounts; E. W. Springer, Atkins Savings and Loan Association, committee on public relations. Other Hoosier appointees are: Forest Larmore, Anderson, advisory committee on state legislation; William J. Hess, Fort Wayne, economic policies committee; Merritt D. Metz, Hammond, committee on home taxation; Earl V, Smith, Valparaiso, membership committee, and George

A. Schaal, Terre Haute, Savings and | Medium ‘| Loan .League of Indiana president,

committee on reserve credits and

feed banking relations.

5 SALESMEN FROM 3

J STATES MEET HERE

: | Business Men’s Assurance |_comm

Co: Sponsors Sessions.

A two-day sales congress for representatives of the Business Men’s Assurance Co. in Indiana, Michigan and Illinois opened today at the Severin with F. W. Moller, Indianapolis, state manager, presiding. Nearly 100 salesmen and their wivesgare expected at the banquet in the Severin tomorrow at 7. The dinner is to be followed by a dance. James L. Rainey, Indianapolis Association of Life Underwriters president, is to welcome the visitors to the city. Harry E. McClain, Indi-|X

ana insurance commissioner, is to [235°

make the principal address at the banquet. the company officials from

SWINE VALUES

Cattle Unchanged to Weak; Veals, Lambs Sharply 50 Cents Lower.

Despite extremely heavy receipts

continued to display a steady trading range. Approximately 416 head of hogs were held over from last Friday's session. The continuation of active buy= ing by local packers was believed largely responsible in offsetiing the heavy supply, which was esti= mated at 7000. Another less ime portant factor in today’s trading was an increase in the consumpe tion of fresh pork by Eastern cone sumers. The top price paid for good\and choice weights held at $10.30, while the bulk of choice kinds, weighing 160 to 225 pounds, sold at $10.20 to $10.30. Heavyweights, scaling from 350 pounds and upward, brought $950 to $960. Light slaughter pigs, from 130 to 160 pounds, cashed in at $9.50 to $10, Packing sows held at $8.35 to $8.75,

Cattle Market Slow

Trading developed slowly in the cattle market, especially in steers and heifers, which were steady to largely 15 cents lower than last week's closing levels. Most early bids were as much as 25 cents lower, Bulk of heifers ranged downward from $7.60. Receipts were 1590. With only little interest evident, the veal market moved sharply 50 cents lower. Bulk of good and choice kinds were undeveloped. Slaughter ewes, holding steady, sold at $3.50 down. Receipts were 1200.

HOGS ial Receipts. $18: sud 40 : 206 10.15 it00 10 0.00 : 10: 20@ 10: 30 [email protected]

Light 0-18) DE (14 ) Good and choice. [email protected] 0@10

Madi

ediu 1200-230) Sool and choice.. (220- 2350) So and choice... 10

50 5) Good and choice. . 50) Good and choice. .

—Receipts, 1500— (550-900) Choice

8333

9933393099388

NBII0R 300390 233382333

-3 oa

on and mediu (750-900) Good and ehoice. “is Common and medium

DIAKI0

SRBRS S3Na3n 89333 89383

Good Common and medium od cutter and cutter

sada

(250-500) Good and choice.... Common and medium

Common and medium

gs 3333 23 0393 83

A and medium SHEEP AND LAMBS —Receipts, 1200— Spring lambs choice Good 3

190.170) Good and _Sholce . 3280 Common and m l and lamb quotations Zs eli oa

Note—Effective June lambs born the spring of 1935 ¢ classified ‘as. yearia :

Other “Livestock

{By United Press) TORT WA Ind. Jun $10.08 225 lbs. $9.95: $0.85; $9 60: 300-350 Ibs. nae Bi, Ing, a TE: Ind. June 1-—Hoga,

PE fd

Lar id 316.00a10. 15 3 0. 0a : 100~ alves, lower.

$10 down; 1

$6.50, Caives,

9.65: 130-170 ibe 88.

fi i, emi Go BUS FARES ARE Low