Indianapolis Times, Indianapolis, Marion County, 17 June 1936 — Page 18

; i

Money Plank Is Found a Trifle Contradictory.

¢v

+ Abreast of

The Times on

EW YORK, June 17.—We can now look calmly at the money plank in the Republican platform and see what it means. ‘ It contains five clauses. The first declares for a sound currency in precisely the words of the Democratic platform in 1932. “Sound currency” means nothing. In 1896 MeHIniey, + & life-long silver man, was nominated by the great gold Republican convention. McKinley tried to shift the campaign discussion to the tariff. He refused for months to mention the money question save to say he was for a “sound currency” and for an “honest dollar.” Of course everybody is for a sound currency and an honest dollar. The second clause says that the first requisite for a sound currency is a balanced budget. In times like this of course, this is precisely true. Roosevelt made his great appeals for election four years ago on a demand for a balanced budget. Now the Republicans make the same claim. A balanced budget is. esrs sential to a sound currency for this reason. If the budget is unbalanced, it is because the government is paying its bills with borrowed money. If the government keeps on borrowing its credit will sooner or later be impaired. If its credit is impaired it has only one refuge and that is fooling. with currency.

” 8 ”

T= Republicans are right. But

what do they propose to do about the budget? The platform

says the Republican Party will bal-

ance the budget immediately. Mr.

andon, however, has always said it should be balanced “as soon as possible,” which may mean something else.’ Roosevelt has said the same thing. However, I venture the surmise that Roosevelt will not balance the budget and that the Republicans will try. I doubt that either can do it without raising taxes, while both pledge themselves not to raise taxes. : The third clause promises not to devalue the dollar further. On this point, of course, we have no guide to the Democrats’ policy. But there is another clause in the Republican platform which makes it resemble * §n fact the Democratic policy. This is the fifth clause on money which provide that “we will co-operate with other countries toward stabilization of currencies as soon as we can do so with due regard for our national interests and as soon as other nations have a sufficient stability to justify such action.”

8 ” 8

HAT does this mean? It means that we will not stabilize now, but later. What does “stabilize” mean? It means to fix the exchange value of the dollar in terms of other currencies. If we are not in favor of stabilizing now, then what are we in favor of? Devaluing or revaluing? We are in favor of reserving the right to do either as our interests dictate. If that is so, then that is completely contradictory to a demand for no further devaluation. This is just about the Democratic position. The fourth clause calls for placing the question of valuation in the hands of the Congress instead of the President. This, of course, differs from the Democratic position. Gov. Landon favors a dollar convertible into gold, but not right away. When? When we can do so without penalizing our pro-

effect, never. ° (Copyright, 1936, NEA Service, Inc.)

LOCAL FIRM TO BUILD

$65,000 Office Structure Planned By Fairmount Glass Co.

A building permit has been granted the Fairmount Glass Works to erect a $65,000 administration building at Pleasant Run-blvd and Keystone-av, it was announced today. - The structure is to be of reine forced concrete and stone, one story high with marble interior trim.

COAL STOCKS DECREASE

Times Special NEW YORK, June 17.—Stocks of pituminous and anthracite coal in the United States and Canada as of May 1 amounted to 25418,000 tons, ed with 26,114,000 on April 1, a decrease of 9,0000,000 tons.

on Commission Row

a to change are Hoes be lars. 4 . Indiana, =

S2ican. yr A) ples Fee $3. Lemons

SE Bia, ae 0 34 9, 4%; stand ed) ier * fats, $1.76, So BCI

(fan necaps =

time is a favorable indication.

| 1869 by a charter granted by Conducers, he says; which means, in gress, are located at 130 W. Wash- | ington-st. Mr. Meek

: eo offered *

ord full feathered, 20c.

BUSINESS LOAN INCREASE MORE

Bankers Interpret Growth of Commercial Credit as Good Sign.

BY VINCENT LYONS Times Special Writer

NEW YORK, June 17.—A sharp upswing in the curve representing loans to business is now discernible. Forthright expressions from

spokesmen for leading New York City banks, fortified by statistics, have been offered as definite evidence of this development. The extent of the increase cannot : be determined accurately, but the consensus is that it is greater than:

The clue to this expalision in commercial borrowing is afforded by a study of “other loans” by reporting Federal Reserve member banks throughout the country, which from April 29 to June 3 rose

WEDNESDAY, JUNE 17,1936

THAN SEASONAL <=: - -

Steels— Acme Steel Am Roll Mills . Beth Steel

Keesport Tin 10822 108% 39% 39%

seasonal. i ve

us Steel ‘pid. . Yauen Bros as ren ere Fa ia

Motors—

Auburn Chrysler Gen Motors

$101,000,000 to a total of $3,586,000,- 1 000. In the corresponding period last year there was a net decrease’ cf $50,000,000, bringing the total. down to $3,250,000,000.

Business Credits Expand

loans” item and apportion any specific sum as definitely an expansion in the commercial: loan account,

the various classifications in the Federal Reserve weekly statements are certain that- business has been taking on increased credit lines.

They adhere to this contention despite. the fact that loans to finance the shipment of gold from Europe to the United States, which has been on the increase recently, are also included in the “other loans” item.

Confirms Impression

An officer of one of the larger banks in the city declared that “there has been a good increase in other loans, a considerable part of which can be labeled truly as commercial loans.” This spokesman added that other grants made were eliminated because they could not be truly classified as strict commercial loans. Another large bank, while report ing a slight increase in loans, saw nothing unusual in the rise. To this, however, was appended the statement that the demand for accommodations in the first quarter of the year had been very favorable.

Increase Unusual

Bankers are impressed by _ the’ greater than seasonal rise in cdm- | mercial loans at this time, because they realize that business today is being conducted on a closer time basis. Inventories are being turned over rapidly and working capital is used to the nth degree. During the depression business was obliged to retrench in order to survive. As yet many concerns have not “unlearned” that lesson and, as a result, they are not apt to rush in for new loans. In view of these conditions, bankers maintain, the increased borrowings at this

STATE MANAGER NAMED

J. Perry Meek to Head Office of Acacia Life Insurance Co.

J. Perry Meek, who has been active in life insurance circles for the last several years, has . been named Indiana manager of the Acacia Mutual Life Insurance Co., Washington, William Montgomery, president, has announced. The Indianapolis offices of the company, which was organized in

is a past president of the Indianapolis Underwriters’ Association. ~

SILVER OUTPUT DROPS Times Special WASHINGTON, June 17.—Silver production in the United States during April amounted to 5,046,000 fine ounces, compared witn 5,329,000 in the preeeding month, accor to the American Bureau of Metal Statistics. Production for the first four months this year was 19,805,000 ounces.

COTTON SEAT IS SOLD Times Special NEW YORK, June 17.—The sale of a membership on the New York Cotton Exchange for $11,000, an in-

sale, was reported today. Produce Markets

rices quoted are paid for stock fa A Brice 1s 8 sent “aigher 1 back broilers, type, 13¢; old cock 8c; duc white. § Ibs. and over, 7c; geese th all sises, Se: ail guin

a ner No. 3, S0as1c:

(By United Press) CHICA June 17. Mark a Jeceipts S08 oases; RE =

aps (BC SE

Although recognizing the pitfalls : in any attempt to dissect the “other | 5°

those familiar with the make-up of | &.

Cal current receip graded Pte. ¢ Jaceipia, 30sec: 19%¢c. Butter y 932 tubs; firm; ox-

Graham Mot... Hudson

op Truck . as. een Packard ... Reo Studebaker *

Timken Det Axle Mining— Alaska Jun ..

1 Cerro’ De Pasco Dome Mines: » Gt Nor 1 Homestake ® Mit; Howe Sound ...

Isl Creek Coal.. 2 Kennecott Cop . McIntyre Mine . Park Utah

Vanadium Amusements— rosey Radio .. Loews: Inc Radio Corp .... Paramount

RRO Bros : : Tobaccos—

64 Am Tobacco ‘A’ 963 Am Tobacco “‘B” 97% 914% Gen Cigar 68Ya 59% ise & Myers B 108%, 198%, Lothiarg Morri gi 14 8 73 Reynolds Tob ‘B’ 56 55%

Roig

64 95%

D. 20% Gt Northe im rhe: on via 43 av

3% West Maryland. . ov Equipments— Am Car & Fdy. 36% 36% AR B02 ray an Bd reno Yn 3 Gen Am Tk Car 49% Gen Elec 9

Westing Elec .. Utilities—

Am & For Pur. 1%

oF Int Hydro Elec. . ry

) J RT

as Stone & Webster Ne United Corp .... Un: Jas Imp . 16% Ut Pw Le “An 5% Western Union . 86% Rubbers— Firestone ....... 20% Goodrich ) 2 30% U 8 Rubber pfd. 74% Miscellaneous Allis = Chalmers.. 463% Am Can ... ..131%

Seas of A er the previous J I Ca

gusuyis aR EE 438 #

gyEgsg

S32 4 srs

New York Stocks

ev BiU 8 Gypsum.

3g | Associated Investors ...

ee REo% aa

“aa

waved Fo

an RB

‘Am Cyanamid *“B”

‘1 *Indpls Water Co

Chemicals— on .. 89

Sa *®

Eves

FEE

8% 13k

ys EET Syne

iil =

oi]

5558

238 EEF - - &

tpt #32 >

Cg alEE

i Dru; ng. 13 n - Zonite Prod. Financial— Adams Exp .... Allegheny Corp.. Am Int b Corp... Chesa Corp .. Lehman Corp. en

Transmerica ... Tr Contl Corp.,

Building— Am Radiator ..

Derr i

his of X

2 SNBBEORR Be Ea

Ulen Cons ...... Household— Col Pal Beat “es

gRsyus FalFFsae

Se: Simmons Bed os ‘ Textiles—

Amer Woolen ... Belding Hem ... Celanese Corp..

reo SNSESRS LEE ESS WE

rao FEN

24%

Chicago Stocks

(By Atkins, Hamill & Gates)

Noon Chic.

coves 22%

Prev. close. Allied Products ........

ve 41 Edison .......101%

New York Curb

(By Atkins, Hamill & Gates

rss esun ea av, Am Gas & Electric nave 1 Am General Am Superpower . sane Ark Natural Gas “A*

Atlas a indus Alcohol “A”.. orp

i , Carrier Cor Creole Petroleum Corp .

.Crocker-Wheeler

Fisk Rubber Ford Motors Can “A” gr fens Dy reenfie ap Die Cor Gulf Oil Oorp of Penn Ds Int Vitamin Irving Air Chute ............ 21%, Mead Johnson & CO ........ 103 Natl Bellas Hess Inc .. seve Niagara Hudson PWr ........: Pennroad Corp . semeseesene Reliable Stores Corp ves is Paper Co ock

sess

In ee [ubize Chatillon Corp ....... vayne Pump

Local Securities

(By Indianapolis Bond and Share Corp.) The following quotations d - resent actual bids or offerings, oun bee ndicate the approximate mar level based on buving and selling inquiries or recent transactions. BONDS Bid. Ask. ...101 103 ..103 105 103 106 63 66 104 106° 103 7 103, 156 1.103% 198 895 8 ..104

8 49. " ...103 B's ares

Belt Rail & 8S Y Com ....... 55 BR & 8 reais .as ity

Hadols Bow

m_6s 5 Lit Co pid 6s . *Indpls Pw & Lt

pid 6%s Sait Ded 58 102% North jnd Eu b Bory pid Blas ! 8 7 orth In u pid Pub Serv Co of Ind Dia = 85

oo 11% Tay RED aundrv : : 30 3 3%

Co Tv Co of In 94% 1. ¢c Co 6s Title Co com . 20 23 On. divide nd.

New Bond Issues

(By Lyons & Co.)

A850 Del, 4s ’65 B & s '65

Bid.

0 TN

3 3 2 "TL cecavenne-

88 FF

SWINE VALUES REMAIN STEADY

IN QUIET TRADE,

Prices Slightly Higher at Surrounding Markets; Cattle Uneven.

The pork market was generally Slendy in quiet fading em at the dianapolis Stockyards,

Indian as a reraon of evening up prices with those paid at surrounding livestock markets. Prices rose slightly at nearby centers. Despite a sharp decrease in shipments, receipts, estimated at 5500, still held above a normal figure. Early interest, however, was about evenly divided among the various classes. Holdovers numbered 210. The top and bulk of choice hogs, weighing from 120 to 225 pounds, held at $1025 to $10.40. Medium kinds, from 226 to 260 pounds, cashed in at $9.90 to $10.25. Heavy butcher classes, scaling from-300 pounds and upward, as $9.15 to $9.60. Light slaughter pigs—130 to 169 pounds—sold at $10 to $10.25, and packing sows from $8 to $8.75.

Veals, Lambs Steady With the exception of slight weak-

ness evident in beef cows, the cat-|;

tle market was generally steady. Early steer sales were confined to light grades which sold from $7.40 to $7.60. Practically all heavyweights were in light demand. Bulk of heifers ranged downward from

$7.50. Beef cows brought $4.75 to 4

$5.50. Receipts were 1400. Both veals and lambs continued stationary. Bulk of veals sold at $8.50 to $9, while choice spring lambs sold at $11.50 down. Bulk ranged from $11 to $11.50. Native ewes were steady at $3.50 down. Receipts were 700 and 600, respectively.

Bulk. [email protected] . [email protected] 1010610: .25

June, Top. Receipts.

[email protected] 300 (3 [email protected] 17500 10. 2a, 40 5500 Light J” 140-1 0) Good and choice. . $10. ea

um 10.25 200: 220) Good and choice. [email protected] (220-250) Good and choice.. 9.95 Heavyweights (250-290) Good and choice..

9.95 PartN-350) Gace: and choice.. 9.65

) Good ... i 8, Medium aughter wa (160-14 or Eo and choice..

Cattle

—Receipts, 1400— 1850-500) Choice ...... 8

900 100) Chiolos saith: Good

8 00

090030000 ~3~30500 OH =100

Modi a evashiens {ys 1500) ‘Choice ...

Heifers (550-750) Choice Good

ABR IPORRNINDN 100 BID IID Da ~3 End RII Beans aS anns SAND 0D IDI =I TN BI =I S835 aS3 nama

Common and medium . (750~! 900) Good and choice. Common and medium

OPES 9930098 39-3000 88338

32-200 Lago

d A Common and medium ... Low cutter and cutter ... Bulls, good Cutter com. and med. buik..

VEALERS —Receipts, 700— Good and choice ... Medium

oe and common aia Calves

(250-500) Good and choice ... Common oe medium d and Stocker Cantle £500- -500) Goad and ¢ mon and DS ne (800- 1050) Good and ee Common and medium ......

¥32az 3

ORION nN 09586 DAMON nN [=] moo

sees

SHEEP AND LAMBS . —Receipts 600—

lambs choice 3 SR a ne way £2020 104

= wo

wu SO Or 3a 83 38

Ew : (90- 170). Good and choice.. Common and medium > iShoep and lamb um ions on

5 &

Note—Effective June mbs korn in the spring of 1935 Slassified” as yosilings.)

Other Livestock

(By Times Special) LOUISV June 17.—Cattle—Receipts, 350; most o run attle: demand only fair; market opening ow, around steady on most slau ie lasses; most common eers and Jesters salable ax fleshed kin n cutt and less; only strictly s00d Baby beef type yearlings uotable upward $8; cows mostly $4.50@5. prac ctica ered $5; mo

—Rece ceipts sorting rather ‘strict: Yeaiers. 81 $7. 8.50; trictly choice Bandreighis 8818: Te loner n to Brags - Rece 700; market

run mos ly 25¢ plain, mal marke Topening oly 25 Ret a

tter grade sp: k better wes ai sShoice heavy

jncly

ers choice Ret um luding bucks. 48.3090.7%, com ughter ewes mostly a 50 (By United Press)

A be Ind., June ifr

Steady: $10.20; $10.10; 200-525 bs

200: 7 Red The. $058 sh 106.130 be

4500 6500 | 3s 1500 | |

10.25 [Am

pele grade slaughter Nort]

mediu 6@7: Un Slade Sel 3 to $5.50

3¢ | Gselp

De: $15.25@10. 75; some ng

THE

Traffic on the Baltimore & Ohio Railroad to Eastern points during the first week of reduced fares increased more than 25 per cent over a year ago. New ‘business has more than compensated for the loss of revenue from fare reductions.

BUSINESS or

COMPOSIT BUSINESS ACTMITY INOEX END OF MAY

12.7 sen cont BELOW NORMAL COMMALD Wit 27.2 A-YEAR AGO

PLOTTED WEERLY

CORPORATION GENERAL DISTRIBUTORS

General business activity in May touched the highest point in post-

depression times.

Adjusted for seasonal variations, there were good

monthly gains in eiectric power production, lumber production, and freight car loadings. The automobile production index dropped some-

what, due to the reThe

arrangement of manufacturing schedules. Commodity prices also dropped slightly. market actually kept pace with May business activity.

During the month the Dow-Jones industrial group advanced 4.7 per cent, with rails and utilities each gaining 6.9 per cent, while the DowJones ‘average of 40 bonds went up 1.34 points. Many stock transactions on the New York Stock Exchange were only about one-half April

sales. 2% billion dollars.

The value of all the stocks listed on the Big Board increased

New York Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX

In Today .-...vvive: Yesterday a Wee .

fasmmes : on spOR

ow hi gh for year. Oa 1036, hs Standard Statistics)

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

1047-52

sssessssssssnece

GsePian, reeves

1049 .... . ve 1042-47 ....... serens -.. 103.24

DOMESTIC

& ) at Coast Line 4s Atl Cost Line 42s Atch. op ) 4s S Fe 42s a l g Mills Vas 45: ...

Cleve Un Term 5s '7 Cleve Un Term 4s 17 ... Col Gas 8s May ’'52 secenenes 104 Col Gas 58 April 52... 000.1041 Gi $8 "61 ......c.ine0e >. 104%

Con Gas 5s ’57 Chesa Corp 58 247 c.cocinnies. N Y Dock 4s ’51 62 NY 5s

Erie 5s 67 Gen Cable B%s *47 Grt Northern 7s’ 36 .. Grt Northern 413s 1168 Grt Northern 4'as 77 Gen Stl Cast WW 5% Hud & Manhat 1 Ref 5s '57.. Ill Cent 4%s Ill Cent Jt as” 188. 0.. is vos 8% 11 Cent 5s ’63.. 83 nternil Te £5) % Tel fass 0. 88 1 Ta & Tel 4% '52..

I tern

P nara 1s 4 51s

McK & Natl Steel 4s ’65.. Nickel Plates 4's, 78... N'Y cent 55 2 8)

Nor Pac 6s 204 New Orleans Term 4s ’55

Investment Trusts (By Thomas D. Sheers oe Co. )

sked. Administered Fund 2nd.. He 8 wy 32 Fund, Inc. 1.90

2.73 27 Corp Tr Shares (Orig) . 381% Than Diversified 5) Saree BC 18 i 10.51 sb res “D’. 6.97 17.07

1.63 1.76 a

8 Oy o -

128 22% 82R5eRy

Investérs Fund A Market Street Invest Corp. Maryland Pund Massa tts Investors wit “Wide oe Se “B".. Ration Wide ¥V North Amer Tr She 1985 © North Amer Tr Shs 1956. . 0! er Tr Shs (Orig).. terly ‘Income Shares.. ted Am Shares, Inc... .1. ted. Am Shares’ (Orig. Cumulative Sh..

NW . pa GL use

CY ve os Tr Stand Invest 'D” ..... United Stand Olifunds....

Ui *Ex-dividend.

8 scssascvsnse

Otis Steel 6s Penn Ry 44s Penn Ry 4Ys Penn Ry 4%s '70 Portlan Para Publix 6s Penn P & L 4%s '81 Postal Tel & Cab 5s ’53 Rem Rand WW 4%s ’66......1 Shell Union Oil 3%as '51 Sou Pa '68

102% 09?

Vsnssasns 0 irevcensansene 88

4s '53.........100% & T 5s '78....105.5

FOREIGN Argentina (A) 68 *57....:.....100%

Argentine iB ho 158. 000vs 0 100% Brazil 3 ves 32

Youngstown

sessatsnsssse,.

seco senen,

5 Yokohama 6s ’ 9%

Unlisted ted Stocks

NEW YORK STOCKS *

*Bankers Trust .. Sentral Hanover .

pin Mig Guaranty *Irvin *Manufacturers . National - City *First National Boston National Shawmut FIRE INSURANCE *Aetna Fire Ins American Ins of Newark Baltimore American .. City of New York Federal Fire Franklin asian Ins.. Great American Ins . *Hanover Hartford

National Fire . National Liberty North River ...

NEW YORK, CHICAGO STOCK VALUES GAIN

50 Issues on Big Board Increase 3.39 Per Cent During Week. Times Special NEW YORK, June 17.—The market value of 50 representative stocks listed on the New York Stock Exchange at the close of business for the week ended June 13 was $19,943,001,500, an increase of

$638,650,625 or 3.39 per cent com-

pared with $18,854,350,8756 at the close of the preceding week, Paul H. Davis & Co. announced today. At the close of the corresponding week a year ago, the same 50 stocks had a market value of $13,277,802,375, indicating an increase of $6,215,199,125, or 4€.81 per cent for the year.

GRAIN SEEDING FINISHED

Canada Wheat Acreage 1 Per Cent Less Than Year Ago. Times Special MONTREAL, June 17.—The seeding of wheat and coarse grains|_ throughout the provinces of Canada is now practically finished, according to the current crop report of the Bank of Montreal. The acreage sown to wheat is about 1 per cent less than that of a year ago, the report said. In central and eastern Canada cold weather has retarded early growth and delayed field operations, but recent field conditions, however, are now more favorable. During

the last few days there has been beneficial rains in most sections,

it was reported.

WHEAT PRICES FLUCTUATE BUT CLOSE STEADY

Crop and Weather Reports Give Nervous Tone to Market.

By United Press : CHICAGO, June 17—Whéat prices were erratic today on the Chicago Board of Trade and closed

| about steady.

At the end wheat was unchanged to off} cent, corn was up % to % cent and oats were up % cent. Prices fluctuated in a nervous market in response to weather and crop reports from the Northwest spring wheat territory. Wheat futures opened easy in response to reports of light rains along the Canadian border. Prices, however, advanced after the opening minutes of trade as a result of bullish crop reports from the drought-stricken spring wheat areas.

Profit-Taking Develops

One grain interest reported that the Northwest spring wheat crop was on the verge of collapse and caused considerable interest in the trade. Prices receded moderately in late trading under scattered profit taking. December -wheat reached a new high for the season in the early upturn while September touched a new high on the current movement. A good cash demand advanced corn prices in moderately active trading. The December future touched a new high for the season on the early spring rally. Prices declined in late trade, however, in sympathy with wheat and closed about steady. Oats and rye markets held at about steady in featureless trade,

(By United Press)

High. Low. ‘Close. 88% 871% 4

H0v .88% 8 93° 90% Sos 62% .621a 62% 63%

0s Bn BES

Prev, close, .88 B80! 818

Wheat— July . Sept. «o.ves Dec. .

Corn July

26% 27% 28%

25% 26% 28

a 58% 59%

STA 87 57% .58hA ait 59 39%eA 59

10.25 10.40 0. 10.52 10.57 9.70 9.90

LOCAL CASH MARKET Cit, in elevators are ing 85 cents or Nor 2 Soft wheat offer Stade. on Hen merits. Cash corn

w No. 3 ye eliow 7 cents and oats 1 cents .

(By United Press)

CHICAGO, June 17.—Cash grain: Wheat —No sales. Corn—NoO. 1 mixed, 64c; No. § mixed, 60c; No. 1 ellow, 64%c; No. 2 ellow, Soames 3 yellow, 83@63 No. 4.yellow, 8144 @ 82c: No. ig yellow, 4% @80c: No. 3 White, 70c; sample grade, 55 @58%¢. Oats— 3 white, 263% @28%¢; No. 4 "white, PE O% Hd sample grade 23'%2c. Rye—No sales. Barley—No actua fates, Jecd uated 30@40c, nominal: malt. ing oted, 48@91¢c, nominal. Timothy seed—[email protected]. Clover [email protected], Soly beans—Sample Side 84% @88c. Cash rovisions—Lard, $1 oa

Jooze, $9.85; leaf, I bellies, cash, $12 June 5. 0 rain close: ‘Wheat—N

oa eleVio transit biaiing) . 3 red, 99¢c cay Corn—No. 89 %zc. s 0. 2, (24%c rate): Wheat—No. 2 Tad; 94%:985¢; No, 3 red, ne 2 yellow. | Sag ase; No.

2 white, 5a 3 yellow, 125% 30 Vic,

TWO INDIANA BANKS ARE 100 YEARS OLD

558 Institutions Operating in State As of March, 1936.

Two of the 558 banks operating in Indiana as of March, 1936, were organized more than 100 years ago and 68 of the institutions more than 50 years ago, according to the one hundredth anniversary edition of the Ameérican Banker, New York daily publication. On the same date 16,256 banks were reported operating in the United States, of which 244 were organized 100 years or more ago, and 2413 more than 50 years ago. Massachusetts leads the list with a total of 77 banks in the 100-year-old section. New York was second with 44 and Pennsylvania, third, with 25. Indiana, Kentucky and Ohio shared honors, boasting two each. :

RAIL EMPLOYMENT UP Times Special WASHINGTON, June 17—Workers employed by 144 class 1 railroads amounted to 1,021,014 during March, compared with only 978,076 persons employed by the same roads in the

30%c; No.

corresponding 1935 month, the Interstate Commerce Commission reported today.

:| Buy a Home NOW!

Real Estate and Rents Advanced 10% i in Price Early This Year They Are Due for Another 10% Rise This Falll ~~ °