Indianapolis Times, Indianapolis, Marion County, 13 June 1936 — Page 28

Method of Escape

SATURDAY, JUNE 13, 1936

PAGE 11

$9558, whereas it was $2348 last year. The high in 1929 was $3704 and the depression low was $1755 in 1932,

for Industry Is Proposed.

3 : * 5

YORK, June 13—One of ‘the most amazing books that has made its appearance in some time is a volume written by BenJamin A, Javits, advocating a new form of industrial commonwealth. I do not recommend the book as & penetrating treatise or an excéptional piece of writing. I merely mention it for its sheer a udacious

frankness. Mr. Javits urges

“have not kept, eir .

in the Federal courts industry has an instrument for freeing itself from the trammels of the President and Congress. His method is simple. A group of business men composing a trade association can go into a Federal court and get declarative judgments outlintrade practices. The business

~ men would then govern business

. such decrees were ey

under the authority of the court. Congress and the President would have nothing to do with the matter and go on fooling around with their purely political questions. This may sound a little surprising. But it is not by any means. This kind of thing already has been done and on an extensive scale in our courts. The rudiments of the practice for this business have already been set up. n ” =

8S far back as 1927, in a magazine article, I warned of the

approach of this very thing. At that

time, under Mr, Coolidge, trade associations were hailed into court for alleged violations of the anti-

trust laws. They then would come into court and consent to a decree being entered against them. The court would then issue a decree, setting forth what the men in that trade might or might not do. The decree became a code of practice for the industry. A great many

The manufacturers of gypsum products made a trade agreement. The attorney general hailed them into the Federal court. The court held the association was illegal and ordered it dissolved. | But it also held that they might form a new association and it proceeded to write a constitution and by-laws for the new association in the form of a decree setting out what they might or might not do. 2 = # : O Mr. Javits is not barking up

so preposterous a tree apparently. If he could get rid of the anti-trust laws, think what beautiful relationships might be estab-

lished between: courts and trade associations. But business men will do well to ponder carefully. before they fall for any such scheme. Because, after all, the Federal courts have one weapon which even the President does not possess. Violation of such a decree-code can be dealt with by the process of contempt. A Federal court might even hail a business man who criticised the decree into court and send him to jail. Who can be sure there will not be such Federal judges? After all, the processes of democracy are slow, oft-times bungling. But in the end they are the best. They are the safest.

(Copyright, 1936. NEA Service, Inc.) On Commission Row

(Quotations below subject to change are Juetage wholesale prices being offered to ers 3 k local commission dealers.) OTT Strawberries, Indiana, 24-qt. crate, ras. Gooseberries: Indiana, 24-qt. crate, $4. Cherries, California Bings, 151b. box, $3. Limes—Mexican, Sartan, 20c. Bananas—Seven hands. 5%ec. Apples—Winesapa (fancy mses), $2. Le kist (300s) 7.50. Canta(ine, n Shed), jumbo is ifornia Hale ned) jumbo, $4.50 umbo flats, . Waterme ne Plorida. 90c. Peaches ~—Georgia. Uneedas medium, half bushel,

VEGETABLES — Beans green, round stringless (hamper), Beets—Home ows, Sos. 45c¢. Co ois -Contorai (6 $3. Caulifiower—California i an "$2.40. Ceiely CHlorias washed and trimmed (doz.), Florida— 10s erate), $3 359. Cucumbers—

Cor $2.15. Fgg Plant— Florida (doz.), $1.50. Kale—Virginia (bu.), 80c. lLettuce—Iceberg, California (best 6s, 58), $4. home-grown leaf (15-lb. Dasher): Pe angoes {bampen), $1.75; eck aket | ON 90c: doz., 40c. Mint—HotBouse doz), 6bc. Mu shreoms-—Potind, 30¢c. ons—Texas Bermud R Fellow, 50-1b. bag. $1.25. JFailey—Sgut ern (long bunches), rosa, Parsnips—Homewn, Ne AeL 90c; halfBE as ut, ARE otvioes chigan un g. $3.50; new Triumphs, 100-1b.

FARE CUT AIDS TRAIN TRAFFIC,

Tie and ncrease at Terminal * After Reduction.

Business is staging a lively recovery at the Indianapolis Union Terminal, according to passenger agents of the four railway lines maintaining offices there. Since the lower 2-cent coach fare went into effect June 1, more tickets

have been sold and more money received than was true of the same time last year. It has been necessary to add to the corps ot “red caps”; the station’s fruit stand has noted an increase in the sale of bananas, and the restaurant is selling more coffee.

Gains Made Before Cut

But increased passenger traffic was recorded this year before the rate reduction, local agents said today. “We have noted additional ccaches on trains and we see more’ people in them,” W. H. McKitrick, station master and baggage agent, said. “It has been necessary for us to increase the number of ‘red caps’ on duty. There also has been an increase in the baggage handled, especially in the number of sample trunks.”

ance of sample cases in the baggage room indicated wholesaling houses were instructing their salesmen to travel by rail instead of by automobile,

Big Four Revenue Increases

The Big Four has enjoyed an especially good ticket business all this year, according to V. V. Hennessy, chief clerk of the line here. He said that during the first week of June,

25 to 30 per cent more tickets were sold and that revenue was about 15 per cent. greater than for the corresponding period of last year. (The coach rate last year was 3.6 cents a mile. The 2-cent rate now prevailing represents a reduction of approximately 45 per cent.) His company showed a gain of 38 per cent in number of tickets sold here during the first four months of 1936 as compared with the same months of 1935, Mr. Hennessey said. There was an increase of 60 per cent in the amount of money received. Mr. Hennessey said he was surprised himself when he made the comparison. He attributed the large increase in revenue to the fact that | the Big Four has handled a number of special trains and “parties” out of the city this year.

’ Pennsylvania Reports

Reporting on the first 10 days of June, Earle Comer, Pennsylvania Railroad division passenger agent, said the Indianapolis ticket office showed a 10 per cent increase in revenue over the corresponding period of last year. meant the route was handling approximately 50 per cent more passenger: General business, passenger and freight, on the Pennsylvania is reported to be from 7 to 10 per cent better for this five months of 1936, compared to the same period of 1935. Mr, Comer said there is a strong trend toward coach travel but that there also is a noticeable increase in Pullman business. (The reduction in first class rates was 16 2-3 per cent.)

Monon Gains ‘ox Per Cent .

The Monon experienced a 25 per cent revenue increase in the first quarter as compared with the first three months of 1935, according to Frank V. Martin, city passenger agent. The recent rate reduction has affected the Monon’s business less Ithan other lines, Mr. Martin explained, because two years ago this

day round trip between Indianapolis | ¢ and Chicago which figured at 2 cents a mile and included no surcharge. This accomodation has not been changed, he said, but - the Monon now uses the new one-way and round-trip rates for coach travel. “Either times are much better or | the general fare reduction has stim(ulated travel on other lines which ‘feed’ out trains,” Mr. Martin said, “for we see more faces in the windows of our coaches than has been the case for several years.” TFhat there was no lull in trafic following the usual heavy business of the Memorial Day week-end credited to the fare cut by Mr. Martin.

ported : - | “doing better than break even” de-

Su. | spite the fare reduction.

AGENTS REPORT|

t Sales and Revenue.

Mr. McKitrick said the reappear- |

He said this |

:company announced today.

railroad introduced a first-class, 10- Sora”

New Business Books Available at Library

The following new business books are now available at the business branch of the Indianapolis Public Library: LL GENERAL THEORY OF EM-

AND Arnis,

Prof. H. R. Mussy, Wellesley College.

MASTERING FEAR, by Dr. Preston Bradley. ‘Do not procrastinate with fears, for danger lies in delay. Recognize What yours are. Get them ‘up to the surface, k them over. Judge them. Then watch them flee as common sense sweeps in.

THE REGULATION OF COMPETITION, by N. B. Gaskill. “Why the Federal Trade Commission has not succeeded enablin Dustness to help itself, oy its at empts to prevent unfair competition have en ineffective and w y the Trade Pracof ela ave - been batren of resu

315 WIN A SALES ARGUMENT, b Busse. “In the business con ie room, more than any other place, there is pressing need for greater - Sttjciency in argumentative technique

LOCAL SIGN COMPANY LANDS LARGE ORDER

Capacity Operation Planned for Next Two Years.

An order for signs which is to keep the Allied Neon Sign Co. of this city running at capacity on a 7-day” week basis for the next two years was announced today by Frank W. Young, president. The company has three plants located at Fort Wayne-av and New Jersey-st. The order was received through a national distributor, Mr. Young said, and the Indianapolis-made signs are to be used by a national advertiser, The new business will require four times as many men as have been

employed at the locaP factory, the |Sept

president said. His immediate problem, he explained, is to find sufficient scientic tube blowers to attain the production desired. Glass blowers are being brought here from

several other states to work at the |

Allied nlant.

EMPLOYES GET BONUS |::

Eastern Firm Pays Workers 5 Per Cent of 1935 Income, Times Special NEW BRUNSWICK, N. J. June 13.—All employes. of Johnson & Johnson, surgical dressing manufacturers, are to receive a check for 5 per cent of their 1935 earnings in this week’s pay envelope, the

This bonus, based upon improved business conditions and the company’s desire to contribute to better purchasing power, is to be paid to every executive, office employe, factory employe and salesman.

Chicago Stocks

(By Atkins, Hamill & Gates) Prev. Close. close. Advance Aluminum . Vy av. oN Allied Products Asbestos Mf astian-Bless: ng

hi off

Rubber Electric Household ... Grt Lakes Dredg Jarvis

ug Pe FPrintin McGraw Electric Noblitt-Sparks A Northwest Bancorporation .e Northwest Engineeri ng rfect Circ'e wift International ... Dixie-Vortex Cup Zenith

New York Curb

‘ (By Atkins, Hamill & Gates)

Aluminum hy of America Am Cyanamid “B” Am Gas & Electric’ A el sivas Eabame

Creole Ee Corp Wheele

Elec Bo! Pisk

or Ford M % Canada SA” a. ler's” of “Det pfd s «15 Imp al Oil { aus

Sa888 §

8 Burswes’ aS WF SRESE RRP

58 FER

=8228

WHEAT PRICES TURN UPWARD

Chicago Market Responds , to Buying Rally in Minneapolis.

By United Press : CHICAGO, June 13.—An upturn in wheat prices at Minneapolis generated scattered buying on the Board of Trade today, and prices firmed. At the end wheat was up 3% to % cent, corn was up % to 3% cent and oats were up % to 3 cent. Buying of wheat futures improved, shortly after the opening in response to the rally in Minneapolis. One brokvr was a fairly good buyer of September. July wheat was bought against sales of September at 1 cent difference in early trade. =

Corn Held Steady

Selling on resting orders was a factor in checking the upturn. Vessel space was reported chartered for 220,000 bushels to go to Buffalo and attracted some attention. The complaints of dry conditions in . the Northwest spring wheat territory was a factor in the upturn. Corn failed to respond to the rally in wheat and held about steady throughout the session. Trading was light and individual transactions were featureless. ‘Oats held about steady after an early rally in sympathy with wheat. Rye firmed in dull trading.

(By United Press)

High. Low. Close. 87% ~ .607%

Prev, close. .84Ya 85% 872

61Ys 581% 52%

25 1] 27%

Dee. .... .. tAsk; *Bid.

CHICAGO PRIMARY RECEIPTS

LOCAL CASH MARKET

10 he grein elevators are paying 85 cents soft wheat. Other grades on their es Cash corn new No.

3 yell 56 cents and costs 17 cents. yetow

" (By United Press) CH HI0) GO. June J3-Oazh rain: —No. Dard. 93c. rn-No. at 3 peat g2hc; 5 mixed." ok vellow. * No. 2 yellow 641, @ 83%: No. 3 Bleeder wile 706: No. 3 white, 89c: No ite, sample. S1@ane. 28¢c: No. white. | 335% @ 2yvac, 3 Oe von © 15% [email protected]. Cloverseed— mothyseed—s$ $13@20. Las h Provisions_Lard $10@ 12

asked: loose. $9.50 asked: $9.37 nomfoal: benies: Bo 92 Atomina oa TOLEDO. ne 13.—Grain Slos oS elevators. DE billing) : neato 2 red, 9 y yellow, Silastic 313.3%, Rye—] rices. 2414c rate: No. 3 red. 89@9ic. 8 ohh 280 S05: Cc. white; Si eisthe.

New Bond Issues (By Lyons & Co.)

Ask. 105%

Cleve Tractor 5s 45 ......... Columbus Rajlways 4s ' ..106% -106% ver P & L 3%s 6 . 108% 105%, ted 1 03% 104ls

#ogEREETETy Fennel] ox ale

! Q wn

ow of ¥5

o ba.

i :

1 15

Q * w > 28

# 2

0.2: ea t—

LEAD GENERAL MARKET KET RALLY

Stocks. ‘Gain Substantially During Week; Trading

Volume Light. ee

BY ELMER C. WALZER

shares led a rally in the stock mar-

The list gained fractions to a point | Phill on the day and was substantially | Soe"

ever, continued dull. Consolidated - Edison reached 36 up 1% points. Public Service of New Jersey reached 46 up 7%;

_{ American Power & Light 12 up 3%:

American Water Works 23% up %; Columbia Gas 20% up 3%: Electric

American 28% up 1; and United Corp. 7% up %. United Corp. preferred reached 45% up 1%. Com-

irregularity. : Motor issues firmed on small turnover. Mercantile stocks continued their rise. Oils rallied as did rails and coppers. Steels lB small advances.

Rubber Shares Up

Rubber issues rose a point or more under the lead of Goodrich which touched 20% up 1%. The group was

reported definite steps had been

ers Union to discourage any further sit-down strikes in the industry for any cause.

touched 243% up 1% and Industrial Rayon 29%; up 2% points. Reports from the trade said producers of viscose type rayon weuld increase their. prices about 3 cents a pound. It was further reported that a Shoriage of rayon yarn seemed ‘possible.

Steel Gains Indicated.

United States Steel led a moderate recovery in ‘its section on indications of further gains in the steel industry next week. Pittsburgh re-

ported ‘that operations there next week would be around 67 per cent of capacity, a new high since June, 1930, when the operations were at 70 per cent of capacity.

Chrysler gained a point inh dull turriover. General Motors was up fractionally. Mack Trucks led a rise in the truck division, touching 33 for a gain of 3% point.

Money and Exchange

INDIANAPOLIS STATEMENT Clearings $ 2,882,000

s for week ...

Debits for week 40,521,000 TREASURY STATEMENT (By. United Press)

WASHINGTON, June 13.—Government expenses and receipts for the current fiscal year to June 11, as compared with

a year ago: This Year. Last Year. .. $6,783,432,902 .$6,718,040,439 , 72 7 3,48

Gold Reserve. 10, 430, 815, Customs .... 367.419, bid -'327,519,224 FOREIGN EXCHANGE

(By Abbott, Proctor & Paine) Prev. close | 1 .0658%

0787 .1690%2 .4027

Par.

- Close. $8. 231 Engiand csetiivea 48 3 Fra

023% .0658% o 51 787 .1695 4033 Ger! 3267 Hollan

6806 3287

1.6931

Local Securities

(By Indianapolis Bona and Share Corp.)

The following quotations do not re resent actual bids or offerings, but merely ca the abpioximate market leve based on buying and selling inquiries or recent transactions.

BONDS

H) 4%s '61..

A W Silas '55:. W 6s "43 bt

T Pt Ft W

Seon § 383883

-- [4 -

SHARES |

‘unications issues firmed after early War

|. Rayon issues were strong on out-. :look for higher prices. Celanese|c

BsBsusIaSenes FR FEE REE : ct

New York Stocks

up 0.92, railroad 46.78 up 0.14, utility 32.65 up 0.52.

iat.

(By Thomson & McKinnon)

NEW YORK, June 13.—Utility| Consoi Ot

ket today after an irregular opening. ‘oni

“higher for the week. Trading, how-|s o of Cal.

Power & Light 16% up 2; North Lae

Studebaker Yellow Truck .

aided by an Akron dispatch which Budd

taken by the United Rubber Work- | Hou

Kennecott Cop 3 McIntyre Mine.. Phelps Dodge ...

Amusements— Crosley Radio .. Loews Inc

Radio Corp Paramount RK

Warner Bros Am Tobacco B...

Philip Morris .. Reyn Tob “B’”- .. Raile— Atchison

Pebput ub pet 03 tN

55%

7 ad Coast Lines.

Dela & Hud ... Del La

Erie Gt Northern pfd Ill Central ie. Lehigh Valley oe

Lou & Nas MK&T rd: Mo Pac .. ..... Mo_ Pac pfd .... N Y Cent N Y Ne . Hayen, Fig

Union Pac J ipments

A Westingh Elec. . Utilities— | Am & For Pwr..

Am Power & Lit AT&T od

Am Wat Wks . Col Gas & Elec. .

Std Gas Stone 8 Websier ted C

Uni Un Gas Imp . Ut Pwr & Lt ‘A’ Western Sava

e Rubber J 8 Rubber pfd. Se a ® Anis Chalmers. .

; Giiatee

Glidden Natl Gash Reg.

Rem Rand Underwood E

13% 413% 2 10 72

. 25% 21

2s 85% 5:

. 39% 2118

Ya 12 68

19% 15%

ats

12% 24% 8

BERENS AREER ony

4 a rbd RENE

8 eo

He Bie FRE

D=3 ad WEIDUIR RIO pe

Fat FEE Jaa

FPR Hr bd

UVR

Con Gas 2

oe FEF

Col Pal Peet .... 14

seven

guauees

Bulle FEEFFES FFE FF

20 ds. Rails 92.8 92. g

(Copyright, 1836, i Standard Statistics) U. 8. GOVERNMENT BONDS (By Abbott. Proctor & Paine) Treasurys “. . Prev, Close Close 1947-52 coe. v000cecnns jn 117.26 09.3

1941-43 1941

101.26 Home Owners Loan Corporation 101.14 101.14 02.22 102.21 Federal Farm Morigage Corporation

3s 1942-47 ........ esiesee 103.24

DOMESTIC

. 5s Cleve Un Term 5s Pri Cleve Un Term tls

: 1 Col Gas 55 May °’

Col Gas 5s ’61

Chi & Nor West 4% ‘49 .cooee 13% 13Y4 47 ..103.10 108, 10 She ’4 133

& T 5s "18. .....105.8

FOREIGN

Rome 6s ’52 ines Tokio City Stas Jor esses Yokohama 6s |]

5 $2,793,185 IN COUNTY

LOANS INSURED BY FHA

Funds. Are To Be Used for Repairs and Home Construction.

Loans totaling $2,793,185 have been insured in Marion county by the Federal Housing Administration, .Clarence Manion, Indiana

gency Council, announced today. These funds, released from private lending institutions, are to be used for modernization and repair of houses and buildings as well as for construction, he said.

4109 modernization notes for $1,134364 have been guaranteed in Marion county as of April 30. Under Title 11, mortgages totaling 411 have been accepted for insurance. These amounted to $1,658,821 as of March 31. ‘In addition to stimulating business in the building trades, loans made. under Title 11, Mr. Manion pointed out, have stabilized the real

state director of the National Emer- | gwes

Under Title 1 of the Housing Act |

ents higher, Jeurting. op i K

SWINE VALUES MOSTLY LOW AT STOCKYARD:

Prices Off 10 to 25 Cents on Heavyweight and Medium Kinds.

prices for these classes were une evenly 10 to 35 cents lower in dull trading today at the Indianapolis

3| Union Stockyards. Underweights,

however, continued steady and active. Receipts were estimated at 1500, the lightest supply on hand for more than a week. Approximately 190 head of hogs were held over from the preceding session.

: Top Is $10.25 The bulk of choice weights, range

ing from 160 to 225 pounds, cashed in at $15.15 to $10.25. The top also

held at the. latter level. Medium :

Weights, from 225 to 260 pounds,

sold at $9.85 to $10.15, while heavy" weights, from: 325 pounds, were salable at $9.10 to $9.35. Light kinds, 140 to 160 pounds, were of«

scaling fered at $10.10.

‘at $8 to $8.75.

mostly unchanged. Compared wit a week ago, steers were around to 40 cents lower and heifers steady,

Packing sows held The cattle market was scarce and

Most cows were 25 cents lower for the week. Bulk of steers sold at $7.50 to $8.50, and heifers $7.50 to

$8.20. Receipts numbered 50. Vealers showed only

change. Bulk of good and choice

was salable at $8 to $9. Top held at $9.50. The lamb market

a slight

way

nominally steady. Receipts were. .

and 300, respectively,

HOGS

10. 150 16: 2

Light i$ Jjghta, ) Good and choice..

and choice. . and choice.

and cholice.. and choice...

um 1200-220) Good (220-250) Good Heavy wes] hts

425-450) soe sereeees “ee (375.350) piisdium cesses

81 ifa-th 40» x Good and <hoce.. ve

: —Receipts, 50— (550-900) Choice «c........ ea Good :

SRRITRRIS

Medi

axa ® B®IB®3-100H-30B

88338 83833

thy

Common and medium (750-900) Good a: @, chalce. ess

Common and med um .

Good Common and medium . w cutter and Satter A Buti, good

PRAWAN RIDIN ADRIN DARIN DD-IN

23333

ganas Sm30

(250-500) Good and ch ses 8.2 Common and medium in $58 18

Feed and Stocker hs

(500-800) Good and jehoice. . Common and m (800-1050) Good “und "choice. res ‘Common and med

Good Common and medium SHEEP AND LAMBS —Receipts, 300— Spring lambs choice Good < Medium saussee Jroseiteie . veiriing n Cita ood” o Medi (90-170) Good and choice... 3.00 Common and medium 1.7% pahsen and lamb quotations on ¢

No! ie Bilectiye June S

the spring of 1 1s” classified "as

Other Livestock

(By United Press) CHICAGO, June a wa a , incl: 4900 direc!

no mak top. : is Cattie—Rec ; com

jare ely 50 down; practic: he steers, best earlings, fat. steers, "vibe. 50. shee ry yo. aarkot on opr i:

2% to 30 . ower; fat ewes 4 LE as of $6;

S93 6538 99 93388 999 ® S99O

00 oe