Indianapolis Times, Indianapolis, Marion County, 23 June 1936 — Page 15

017,000,000 the fi

‘New Funds Push

PAGE 15

four months of ~ pared to $1,749, 000,000 in the same 1935 hie The price level was 2.3 per cent-lower, but quantity marketed ner eased 1 18.1 per cent.

Stock Prices Higher.

BY JOHN T. FLYNN ee.

N= YORK, June 23.-—It.is now 36 years since the Repub_lican Party met in Philadelphia to do what the Democrats are ready to do here—renominate by acclamation the President. The

President then was William McKinley and as the Republicans gathered but one song filled the air—the song of prosperity and rising business. As the delegates assem-

thought of the coming election. He replied: “Young man, no national party candidate in power is ever beaten when the prices of . stocks are going up.” That is true. Now if you will look at the line which charts the movements of stock prices you will see not only that it is going up, but that it has cancelled all the losses suffered in the heavy break in April. That, of course, is and was to be expected. Prices by April had “reached a level wholly unsupported by basic conditions. The break was inevitable because the rise was unjustified.

Flynn

8 = = INCE that time, however, the market has settled to its inevitable work of pushing prices up again on the strength of two ‘forces. One is the ever-increasing

tide of iptimism. The other is the ‘rising tide of funds moving into .the blood-stream of business. We may now look at this second ‘force in operation under our very eyes, almost as in a laboratory. ‘The government has just handed out to 3,518,191 veterans the tidy sum of $1,924,000,000. All of this, save small accounts, has been given to them in bonds, but they may cash the bonds and doubtless almost all of them will. When they do they will have cash in their hands to spend, to pay old debts or to save. Just how much there will be is as yet only a, guess. But we may safely assume it will be between a billion and a billion and a half.

Now let us follow this money after it reaches the veteran. Where will all that money be in a few weeks, a few months? Certainly the ex-soldiers will not have it. They will have spent it or paid debts with it or put it in some investment or saving. It will go into the hands of merchants, manufac_turers, business men. It will move on from hand to hand making business, employing men, making wages, making profits, but how long will it do that?

” » ”

8 IT moves from day to day a little of it will come to rest. The man who gets some of it will decide not to spend it or not to spend all of it but to save it. Gradually, each week, large amounts of this billion and a half will be drained off from the current of spending to the pool of saving. In time most of it will “suffer this fate. The. whole bil‘lion and a half will be in the hauds of men and women who are able to save it. Each week this fund will continue to swell the pools of save ings or investment funds and as this takes places the amount of money seeking investment will be enlarged while, of course, the amount of investment available will not be increased because new investmentsghave not been appearing in the market. This is what has been happening ever since the government began spending. And is what pushes the market up. is is also what, in the language of old Tom Platt, makes Roosevelt’s election certain. But will the market break again before election? Probably. But that depends on how fast the boys push it up. However, it will rise ~again, if it does break, as long as ese new funds are supplied by ‘the government. (Copyright, 1936, NEA Service, Inc.)

NEW YORK, CHICAGO STOCK PRICES RISE

“Value of 50 Issues on ‘Big Board’ Up 1.22 Per Cent in Week.

Times Special NEW YORK, June 23.—The market value of 50 representative stocks ‘listed on the New York Stock Ex“change at the close of business for “the week ended June 20 was $19,931,378,875, an increase of $238,3717,375, or 122 per cent over the pre‘vious week's total, Paul H. Davis & Co. announced today. At the close of the corresponding week a year ago, the same 50 stbcks ‘had a market value of $13,548,246,-

POPULATION ON INDIANA FARMS

SHOWN GAINING ==

Return to Land Movement oh

Charted by Census for 5-Year Period.

ter Ass Indiana was shown to be among | am Ron Mills the six states where the movement | Seth Steel of families from urban communities | ;%'8

to farms was most numerous in the

past five years, according to figures Ne

released today by the Department of Commerce. On Jan. 1, 1935, there were 74518 | uy living on Indiana farms who

persons {lived in a nonfarm residence April | vo 1, 1930, figures from the two latest

Federal farm censuses showed. During that period, however, the Hoosier farm population increased 39,987, growing from 813,007 to 852,994. The only states where more persons returned to farms are Texas, Pennsylvania, Michigan, Ohio. New York and Missouri. State Has More Farms

The number of farms in Indiana also has increased between the taking of the two censuses, the report listing 200,835 on Jan. 1, 1935, as compared to 181,570 on April 1, 1930. The movement of 1,995,253 persons to farms during the preceding five years was a major factor in making the farm population of the United States on Jan. 1, 1935, the largest ever recorded by a census. “The average of three persons per farm reporting this movement,” the Census Bureau said, “and the increase of more than a half million farms in the nation since 1930, suggests that this has been largely a movement of whole families rather than the migration of single individuals. These families have returned to farms once abandored, to new farms and to unoccupied houses on farms operated by their relatives and friends. Negroes Move to Cities

The movement was most extensive in five regions, the report said. The largest of the regions comprised the Appalachian subsistence-farm-ing area extending along the mountains from Pennsylvania to Alabama. Unemployed miners, lumber workers, factory employes, and

Otis Stee. Rep Lion & 84 U 8 Pipe & Fdy

1 41

8. Stee) prd- .129

Warren : Warren v & 2g ungstn 8

Motors—

Studebaker a Yellow Truck..

Motor Aceess—

Mig Elec Auto. Lite.. Greyhound (B).. Houdaille

1 6 Timken Det Axle

Mining—

Kennecott Cop.. Mcint pe Mine. . Park Utah

St U 8 Smelters . Vanadium Amusements— Crosley Radio .. Fox Tneat Loews Inc Radio Corp Paramount RKO Warner ‘Bros ... Tobaccos—

Phelps Dodge ...- Joe Long eee

Am Tobacco “A” 98

Am Eobacco “B” Lorillar

Reynolds Tob ‘Bf

Atchiso!

others who were unable to find work | Ch & Ohio in industrial pursuits, totaling in all CM &

between a third and a half million persons, returned to the small hill and valley farms once abandoned. Areas around the industrial centers of New England, New York, Michigan and Ohio furnished typical examples of other regions where there has been a large influx of people

| to. farms.

“This movement has been largely a migration of white persons to farms. The decline of almost 200,000 in. the nation’s colored farm population indicates that the net flow of colored persons has been from farms to nonfarm residences rather than from cities and towns to farms,” the report concluded.

CITY EMPLOYMENT INGREASES IN MAY

Pay Rolls Up 4.7 Per Cent, Business Survey Shows.

Employment reports received from | Pac

574 Indianapolis firms during May showed an increase of 1.3 per cent in the number of workers, 4.7 per cent in pay rolls, and 5.5 per cent in man-hours worked, the, Indiana Bureau of Business Research announced today. v The improvement of employment among manufacturing concerns was sufficient to overbalance the losses in retail trade, while chemical manufacturers, machinery workers, and railroad repair shops showed the best gains, the report stated. The value of building permits continued substantially higher than

u RR ... Union Pac Equipments—

Am Brake Shoe. Z Car 5 Fdy..

Pullman he 0

86%, 55%

West Air Br .... 43

Westingh Elec Utilities— Am &\For Pwr ;

Col Gas & Elec. Comm & Sou.. Consol Gas .. Elec Pwr & Lit. Interboro R T . Int T & Lou G & “ v9 Nat i & hit. North ' Amer’ s & E Pub Serv N J. go cal Hdison.. Stone a: Web'er United Corp Un Gas Tmp .e Ut Pwr & Lt A. Western Sai Rubbers Fiesione sssenne G U be U 8 Rubber pfd Miscellaneous— Allis Ch Chalmers. . Am Mach & Fay Anchor

3rklyn } Map Tr. Juiroughs Add..

both April and May, 1935. Building & activity in the city for the first five | De months this year was twice that |Eost of the same period last year. Bank | Gillette

clearings showed a gain of 6 per cent during the month, Post office receipts declined about |

8 per cent from April, but- were |Rem

slightly above the same period a year ago. Newspaper advertising in

the city increased by approximately |

16 per cent during the month, bringing it to a point 9.5 per cent above a year ago, it was reported.

Local ivi

(By Indianapolis Bond and Share Corp.)

The ctual BY quotations do not re resent actual bids or offerings, but mere v indicate the Approximate market . level based on buying and selling inquiries or recent transactions.

BONDS Cite Ing ol (TH) Has '61.. 1 Rt *58

H Tel H Tel & Tel In

Bid. Ask.

635, indicating an increase of $6,183,- Indpis

"132,250, or 45.6 per cent for the year.

Times Special CHICAGO, June 23.—Twenty-five an hos Btanarwed on the cago Stock at the of the week ended June 20 had a ‘market yale of Semen, an in-

dden Ingersoll a = So

Und Rane E . Worthingion Pm.

rmour rmour 6% of eatrice Cream. fod. al Pa

Coca-Co Sout : Ba

..119

te 24% 20 3% . 37 Ya 10% 15% 143, 34

6 47% 87%

30%, 32 26% 31% 1%

48% 25

19% 49%

44% Rand. . 133% TY 88%

23% . 29, 31%

: ‘lll100 . 1%

81% . 36%

B82 ¥

SEEN FESEES

! Aluminum Oo of 4 of America! .e

Heavy breed

$2. orth i United ¢ States No.

gs8nNe Feiss

S82%8=es

8, Eran,

eRe Swenata JoRpATE Se EEE i Fae

ni SONS EEE

... 207 lland Furnace 37 t°Cement .... 48 ville 105

Linky owens Gls $74

$3 BAS ea

104

SRSRE FE

Kayser Julius ... 27

Chicago Stocks

(By Atkins, Hamill & Gates) : Prev.

Associated Investors Bastian. B 8sing Deruh hoff

Cran ’ Electric Household .......%.. Grt Lakes Dred Jarvis Mf

Ken-Rad & L.. Lincoln SrHnting . Loudon P: acking Noblitt-Spa Nor Zenith

New York Curb

(By Atkins, Hamill & Gatss)

Am Cyanam Am Gas & UL ctrre . am Genearl m Superpow Ark Natural Gas pn Atlas Cor Carrier Corp Creole Petroleum Corp . Crocke eeler

n Ford 1

Imperial Oil of C Mueller Brass Co Niagara Hudson Pwr Pan-American Airways Pennroad C

ock iy OL of Ohio Cechnicolor ‘Inc Nayne Pump

Unlisted Stocks

(By Blyth & Co.) NEW YORK STOCKS

a INSURANCE Aetna Fire Ins American Ins of Newark e American City "0 of New York Federal Fire rankl] "American Ins Great American Ins Hanover

Hartford Hi

Produce Markets

The prices quéted are paid for stock athered in the country, while delivered n Indianapolis She Price is a cent higher. hens, Legh; hens, 12¢; colored aR 2 1 ieathered, 19c; Leghorn s ringers, 1% lbs. and up, full feathered, 17c; bareback broilers, ay type, 13c; old cocks, ducks, white, 5 ibs. and over, 0s Sese, fuil feathered, ‘all sizes. 5g: gu 112 lbs. and . x eR re eges log loss of. 1 ic; vera in In rE full ‘case must Neigh : Ea gr LR on of 10

will bi 1 but lac; “No. 2, S0te 63150: butter-

(By United Press) CHICAGO, June 23.—Eggs—Market easy. Rageipis, 19,463 cases; fresh graded dire 213%c; current receipts, 2 iF 19%,c; extra firsts, 22c; c Bu tter—Recei ts, 16, (92 score). 28%.@ ials, 30% @31c; standards, =e "Market oiled a . Ducks, lates; [H spring chickens, 28 Qe, hens, 1 turkeys, 15@16c; broilers, 17@2lc; leghorn SE Baise: old roosters, 13@14c¢; fryers, van Cheese—Twins, “isgieue; lattes, 16%:@ 18%; TEL as, 16Y2@16 otatoes—New stock: Suspiy light, deBay slow, market weak; a Triumphs, [email protected]; Triumphs, [email protected]; United 40; oot i085" en, $360; Stoc! > Supeiy Hon. demand slow, market weak;

Arrivals, 58; on track, 217; shipments, 531. \ Other Livestock

(By United Press) . CHICAGO, June 23.—~Hogs—Receipts, 000, including 5500 direct: active, ? steady to loc lower than Monday 's average; ii: $10.50; bulk 1 190-250 Ie $10.25 10. 40; } 160 1bs., $10@10 350-300 lbs. 10.30; 360-350 Ibs, 286.800 @9.25; heavies down to to $8.50, an smooth

ts to $9. Cattle—Receipts, 7000. Calves—Receipts, 2000. . Yearlings and htht steers, Strong, weighty steers steady; best weight, sal Ly Jo. not much done on wei

g 1000 lbs. dow d at $8.50 down to ik Stockers slow, eady; South Dakota and Monta tockers from ay areas, $5.500 ter Jade. § $ 7. 50 and and better: ‘Texas bred $8.25 down: fed heif: astive, Hi firm at 3.40 down to $7.50: but other she stock and weak; fairly steady; y rag strong at $8.50 Sheep—Recei 9000. Fairly an on all all Srade: and c Botte: grade 1st

on t yy 3 ighes: Srhers Ea a

Steers

bucks hi 5

aroun " bulk, Esra ae Ts Ind.. June 23 3 Hogs. mar $10156 10.20, ine, $1630 90 OS d0-33% Ibs.. [email protected]; bd or sal; 10; 100-130 Ihe 4050 45 250

Calves lipped ame $7 dows: pring tampa $16

v COTTON SEAT uP $500 Times Speciat . ‘NEW YORK, June 23.—A mem-

best ewes

SER ESR

% | highest level reched since early in 5 May. Bulk of choice kinds, scalting from 160 to 225 pounds, sold at

i ($9.95. Light lights, from 136 to 160

, | 0 $9.

- | heifers ranged from $6.50 to $8.10. 2

, | Slaughter pigs

Receipts, 44 ] 150: Sood and choice

nsas Bliss

daho Russet Burbanks, | Good

1 108; sows, Sos ;

PORKER PRICES _ ARE UNEVEN IN NARROW RANGE

Higher; Cattle, Veals Unchanged.

An uneven trading range developed in the pork market today at the Indianapolis Union Stockyards. Prices, however, were steady to gerd erally 5 cents higher, with the upturn limited mostly ranging above 260 pounds.

plies, demand showed signs of weakness, especially in the light-

practically unchanged at the pre-

.estimated at 7000, around a normal figure compared with last week. Holdovers numbered: 93.

The top price paid for good and : choice weights held at $10.55, the:

$1045 to $10.55. Heavy butcher classes, ranging from 300 pounds upward, were salable at $9.50 to

pounds, brought $10.10 to $10.35. Good packing sows held at $6.25

Early trading was moderately active in the cattle market, especially on slaughter steers where prices were largely unchanged. Heifers and cows also were steady. Bulk of steers sold at $7.35 to $8.10, while

Beef cows held at $3.50 to $4.25. Receipts numbered 2200.

Lambs Are Steady

Despite a combination of heavy | D receipts and light interest, the veal market managed to display a steady trading range. The bulk of good and choice was salable from $8.50 to $9. Receipts were 900. Developments were slow in lambs as local buyers were hesitant in making early purchases.. The mar-

$10 to $11, while the top held at

tle change, salable at $3.50 down. Receipts were 1200.

HOGS

June. Bulk. Receipts. $10. [email protected] 2500 .45 6000 5500 A ¥ 1000 22. 0. 6500 23. [email protected] : Light lights

160) Good and choice. [email protected] [email protected]

and choice.. d and choice.. 1 Heavyweights (250-200) Good . 1290-350) Goad i Sows

and choice.. and choice..

( 275-350 Medi

(100-140) Good and choice.. Medium

i —Receipts, 2200— (550-900) Choice Good

L3abgsuzhsasy Saahasaaakig

0 ommon and medium

GANID IPRINADIVBD-I0

Common and medium

Good Common and medium. Low cutter and cutter Bulls, g Cutter com. _and med. bulk..

VEALERS —Receipts, 900—

ADAUND -I0IWM 0300 -30000~7 30000 in =I 00 CO

OR an § be sehen 13°] sis $5568 0956595956688

8 8hesh 283%

(250-500) Good and, choles. . Comman Land m 4, ‘eeder an Stocker Cattle (500-800) ) Goad and She .00:

Comm: (800-1050) Good and, Ee Comm mmon and med

SHEEP AND LAMBS —Receipts, 1200— Spring lambs choice Good

Common and b A Theep and meds a tons on a 25

Note—Effective June 1, lambs born in the spring of 1935 5 classified at yearlings.

Other Livestock

(By Times Special) VILLE, June-23.—Cattle— 256° aiable su kilns Blea a a Ee. on

le—Receipts, suppl Slaughter Satie Tight;

iy Plan; arke to. medium teers and heifers rigs, 38.

ow oul ~ = ats ti hel FT pulls

down. “Gul most oferl ad mark 51 Goat to tow Steietly choice $8.75. wr

and lower grades, $5@7.. " Hogs—!

Market Steady to 5- Cents 1836" hie

to weights | 3 Faced by a heavy run of sup-|3

vious close. Total shipments were 3

Top Holds at $10.55 E + Alleg Corp 5s 44

v | ket was generally steady at yester- |: 2 |day’s best prices. The - bulk of spring classes: continued to sell from In

$11.50. Fat native ewes showed lit- N

7000 | p

| Brookl

New

York Soma

(Reprinted From Late Times Yesterday)

DAILY BOND INDEX (1926 Average Equals 100.) 30

ssmEsRsp Sasouuacy

weight division, where prices were | 3s

DOMESTIC

Alleg Corp 5s '49 Alleg Corp 5s ’56 Am Frgn Pow 5s 2039 Am Tel & Tel 5%s '43 . Am Tel & Tel 55 ’65 Arm & Co (Del) 45°55 ..... Atl Coast Line 4s 52 Atl Coast Liné 42s '64.... Am Rolling Mills 432s ’45 ....

Balt & Ohio 4%s '60 Buff Roch & Pitt 3158 0 Beth Steel 4%s "60 . . Chi Muw & St P 55 Chi Milw od St P 5s 2 Clev Un Term 5s ' Clev Un Term 4Yas 1. Col Gas 3 '52 C as

N.Y Cent 5s 2013 N Y Cent ihe 2013 (old) ... Nor Amer Co 5s '61

42 Portland Gen, El 4%s '60 .... Para Publix es. *'55

Penn P Postal Tel & Cab 5s 58°

New Bond Issues

(By Lyons & Co.)

Asso 3 4s. '65 athe aaa aha 105 B&O ’65 - 98

Columbus: Rajivays 4s '65 . Conn River P & L 3%s "6i.. Consolidated Ed Sas ’46 Consolidated Ed 3 '56

] sas PL, 0S vA a & E 4s '70 aine Cent 4 " etro Ed 4s inn Gas & $2 Lite 4s ’50 104s 4128 '60 105% - 105

Wis Pub Serv 4s

Sed Trusts ty Thomas D. Sheerin & Co.)

sified TH Dividend Shares, Inc General Investors Trust

Samar 12:0 8

BeBara

ot we

Massachusetts Investors Nation-Wide Sec Co Nation-Wide Vot American ,

tae B88.

gore aRRIARLRR Pram i

88a

ster enmsser Lain

Srsesuanievsns

96 1.19

? long distances,

. | crate, $3 $2. 50; red, 24-pt. crate

basket), = $1.50;

Rush Jobs Make Us Smile

Hendren Printing

EEETTTEE

as T 1... Foungstown 8 & T 3'%s 51...

« | Rome 6's '52 Tokyo City aus Hi

Yokohama 6s

SHIPMENTS BY TRUCK EXPAND

Farm Product Movements by Transit Lines Up Sharply in 1935.

Times Special WASHINGTON, June 23. — The

i movement of farm products, includ-

ing large tonnages of fruits, vege-

4s | tables, cattle, hogs, sheep, milk, but-

ter, eggs and poultry, to market by motor truck is continuing, to increase, the U. 8. Department of Agriculture announced today. Many of the shipments are for the department pointed out. Approximately 17 per cent of the butter received at New York, Chicago, Philadelphia and Boston during 1935 was shipped to market by truck. Egg Movement Gains (The Chicago market received 35 per cent of its butter by truck last year, compared with 30 per cent in 1934, and New York received 9 per cent, compared with 3 per cent, respectively. The egg movement by truck also increased sharply during the year. Approximately 56 per cent of Chicago’s shipments, arrived by motor transit in 1935, compared with only

Fra 38 per cent in the previous year.

New York reports an increase from 13 per cent in 1934 to 21 per cent in 1935. For the four egg markets, including Chicago, New York, Boston and Philadelphia, 32 per cent of the receipts, or 41,001,000 cases, were hauled by motor truck during 1933, compared with 21 per cent, or 2,640,000 cases, in 1934.

On Commission Row

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

FRUTT—Strawberries, Michigan, 16-qt. Raspberri og, black, 24-1b. crate, . $4. H leberries, Florida, 24-qt crate, $4.50; 16-qt., $3. Cherries, ifornia ~Bings, 15-1b. - box, $3. LTR ro carton, 20c. Bananas ven hands pounds, Apples—

Transparents, $2. 75. m kist (3008) $7.75. Cantaloupes—California (vine ripened) jumbo, $4; standard, $3.50. Watermelons—Florida, $ Peaches — Georgia, Uneedas medium, half bushel, | $1.75. Apri i basket crate, $1.75. Plums—Red, 4 basket crate, $2. VEGETABLES — Beans, green, round stringless (hamper), $2.15. Beets—Home grown, . Carrots — California, (doz. Ne 45¢c. Cauliflower — California (12s crate), $1.75. Celery—Michigan washed and trimmed (doz.), 45¢c. Cucumbers—Hothouse (doz), 75¢c. Corn—5 doz. crate, $1.75. Egg Plant— Florida (doz.), $1.50. Kale—Virginia (bu.), 65¢. Lettuce—Iceberg, California (best 4s ' 55), $4; home rown leaf (15-lb. 5c. Peppers—Mangoes (hamper), ck basket, 75¢; doz., 30c. n Hothouse (doz.), 50c. painless Bermuda yellow, 50-1b. $1.25. Parsley— Southern (large oe: (doz.), 60c. Pasa Ee pol ore: hat -bushe c al a. - Potatoes — Michigan Round

bag $4. Sweet Potatoe cy Halls, hampers, RadishesHomegtown buttons, doz., 30c; te, 2 doz., bask ge 60c. Rhubarb — 'HotSls, doz., 25¢c. e—Doz., 45¢c. Turnips —New Bulk Texas, ba, .» $1.50. atoes— Homegrown, 8-lb. basket, $1.15. Miscissippi, orig. (6-6) lug. §

Money and rang

INDIANAPOLIS STATEMENT

Clearings .- . DEDItE ...coiinisscasnnsisensre

TREASURY STATEMENT = Vaited Press) WASHINGTO! e 33. — Gov expenses and a8 Ju ts for the Phd cas year to June 20, ip compared with a year age: Last year $7,148,247,310.80 1243.01

C Mich sidan Goldner: LT, Hheiios

FRUITS AND VEGETABLES {By United Press) phen ). June 23. Hruis and or w 150. Carsot Se

FEDERAL STUDY T0 BE MADE OF STEEL CHARGES

Nation’s Largest Companies | Accused of Anti-Trust Law Violations.

Ry United Press WASHINGTON, June 23—The

Justice Department began study today of President Roosevelt's re-

2 quest “appropriate action” against

four of the nation’s largest steel companies accused of anti-trust law violations. : The President forwarded to Attorney General Homer S. Cummings a Federal Trade Commission report which held there was “reasonable

ground to believe that anti-trust laws have been violated” in connection with identical bids submitted for supplying steel for PWA projects. The FTC reported the U. S. Steel Corp., Bethlehem Corp. Jones & Laughlin Steel Corp. and the Inland Steel Co. submitted identical bids on the Triborough bridge at New York City, the Deep Sea harbor project at Miami and an ocean terminal at Moorhead City, N. C.

To Collect Evidence

President Roosevelt called Cummings’ attention to the fact the FTC “definitely finds the existence of collusion.” The bids were made on the three projects financed by the Public Works Administration last fall. The FTC conducted an exfene sive investigation. In addition it was indicated in the FTC report that there will be conducted a widespread collection of evidence of collusion in other commodities sold the government. The commission also suggested the President recommend to the next. Congress new legislation “aimed specifically at delivered-price sys Jems that frustrate price competition.”

PURCHASE CITY BONDS

Fletcher Trust and New York Firm Make Successful Bid.

The $300,000 refunding bonds, bearing 2 per cent interest and maturing in 15 years, issued by the city to replace bonds of that amount issued to finance construction of the City Hall, have been purchased jointly by the Fletcher Trust Co. and Phelps, Fenn & Co., New York, Walter C. Boetcher, city controller, announced today Mr. Boetcher said there were 12 bidders and that the premium offered by the successful bid was $1560. Interest on the bonds to be retired is 3% per cent. Mr. Boetcher said the new interest rate is one of the: lowest required on bonds in the city’s history.

LOCAL CASH MARKET

Cit; grain elevators are paying 90 cents or 2 .soft wheat = Other grades on their merits Cast corn’ new No: 3 v 60 cents and oats 17 cents

A NATIONAL INSTITUTION,

The home! There is where the wealth and future of the nation is centered. Plan to have one of your own with the aid of a mortgage loan. You can have the | money quickly here on an equitable basis. Call and let our loan officers discuss your mortgage loan requirements.

ORGANIZED 1887 : Railroadmen’s Federal Savings and Loan Association

~ OF INDIANAPOLIS, INDIANA 21-23 VIRGINIA AVE.

cliow :