Indianapolis Times, Indianapolis, Marion County, 1 July 1936 — Page 19

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Parties Diff er on

mes

PAGE 19

mobile radios, indications

Influenced by a continued sharp demand for auto-

dare that a mew all-time

high will be reached in radio sales for the current year. The totui probably will exceed 5,000,000 sets.

Purposes for Amendment.

i y weeBY JOHN T. FLYNN se

N = YORK, July 1.—One feaiture of the Democratic platform reads better than it sounded. That is the plank dealing with the Constitution. Apparently the Administration was forced to yield at the last moment and include a sentence which recognizes that we may have to amend the Constitution. On this point, the Democratic convention came out somewhat better t han the Republican. Both: conventions were forced to face the possibility of amending the Constitu--tion. But it must be kept in mind that the two conventions were talking about two viry different kinds of amendments, ' The Democrats were talking about an amendment which would enlarge the powers of the Federal ament to deal with produc- | commerce, trade, finance, labor ‘across state lines. The Republicans were talking about an amendment to give the states the right to pass minimum wage laws for women. The Republicans ducked the issue entirely. The Democrats at least faced their issue sideways. The Republicans merely adopted a plank to support the adoption of state laws pacts ‘to abolish sweatshops, child ‘labor, ‘protect women and children by means of minimum wage, maximum hour laws. But it declared that all this could be done within the Constitution. Of course the Supreme Court had just declared a minimum wage law for women in New York unconstitutional and said the states had no authority to ehact such laws. Hence the Republican declaration was meaningless.

| ay HE candidate realized this and sent a message to the convention saying that, while he hoped these things might be dond within the present Constitution, he would not hesitate to support an endment to the Constitution to give the power if it does not already exist. But there is no pledge from the party as such on this point. The Democratic convention was faced with a demand for a much more extensive amendment. The liberals wanted an amendment conferring on the Federal government , the right to pass laws regulating ‘ trade,! production, agriculture, . wages, etc. The President was op- *. posed to this demand finding a . place in the platform. He favored A declaration not unlike the Republican plank—affirming adhesion to the proposed laws, but saying nothing of the Constitution. He hopes he may be able to get a different interpretation of the Constitution jin his next term. i 2 x Nn . UT] undoubtedly labor pressure forced a change. The plank *fleclares unequivocally that the remedy for dust-storms and floods ‘and economic disturbances can not be applied by 48 separate states. It takes its stand on Federal ac-

tion. It asserts that it favors the attempt to solve these problems ‘within [the Constitution. But IF— Af this is not possible, then it favors an amendment which will assure tg the state and to the Federal government, each within its own field, the power to pass laws “to regulate commerce, protect public health and safety and safeguard economic security.” The voter may now ask—when will the Federal government under Mr. Rdosevelt decide that it definitely has not the powers to regulate commerce and safeguard economic security? Will it wait patiently for an opportunity to ‘change; the court and thus reverse its decisions? Will it persist in passing futile laws like the Guffey | Act which it knows the court will nullify and thus fritter away the precious years until another election is due? Unfortunately the President has given abund- , ant ground for believing that he ~ favors ¥ iting on a ¢hange in the * court. | Maybe this will do the trick. ‘But why not start the meniments at once anyhow? _ (Copyright, 1936. NEA Service. Inc.)

On Commission Row (Quotations below subject to change are Juerage wholesale prices being offered to

3 =~

by local commission dealers.) pberries, black, 24-qt. crate,

5, at es. ida, 24-qt. crate, $4.50: $3. California Bings, Par hos, Imes—Mexican, carton. 20¢ leven hands, Ib, 5%c. . le ents, [email protected]. Lemons—Suh3). $7.95. ned)

3e-5t. crate, $3.50.

Cantaloupes—California jumbo, $3.75: standard,

i, Uneedas medium. half pricots—24-1b. lug. $1.75. Plums— fsket crate, 31. 9. rapes—Seed-

green, round Beets—Home- . Carrots—California " 40c. Caulifiower—California Celery—Michigan washed qos ), 45c. Cuc umbe

doz. crate, $1.88. lant— oz.) $1. ne a vir 1bu.). Ice! , Calif oriia {est 4s,

INDEX ADVANCES

YORK, July 1.—The com- : price index continued to

the last week, aci by

and interstate: com- ;

atermelons—Florida. 60c. Peaches bushel,

GAS CONSUMED IN 1935 SHOWS BAIN IN STATE

Indiana Has Eighth Largest Revenue From Tax on Gasoline.

Consumption of gasoline by motor vehicles in Indiana in 1935 showed a 7.8 per cent increase over the total for 1934. The national gain amounted to 6.4 per cent, according to figures revealed today by the United States Department of Agriculture bureau of public roads. The average tax rate on gasoline in the nation was reported as 38 cents. In Indiana the rate is 4 cents a gallon. Florida and Tennessee have the highest gas tax—7 cents a gallon. The rate is only 2 cents in the District of Columbia, Rhode Island and Missouri. The report gave the approximate amount of gasoline used on Indiana highways as 472,010,000, which produced $19,262,319 in revenue for the state.

Only seven states received greater revenue from its gasoline tax than Indiana. The 10 states with the largest gas tax revenue follow:

Net Recpts. ve..0.$ 56,311,245 46 ive. 40,708,840 35.923,238

State

New York Pennsylvania Cajiiornia

5.38%

1190,561 dian - Sas 62219 North Carolina seeee BE Lol 12 ras The state in which the most gasoline was consumed in 1935 was New York with the total just short of one and a half billion gallons. Californians were the second heaviest users. Pennsylvania ranked third in consumption and Illinois was the other state in which more than a billion gallons was consumed.

Local Securities

(By Indianapolis Bond and Shate Corp.) The following quotations do not reprecent actual bids or offerings, but merely indicate the approximate market level based on buying sr and selling inquiries or recent transaction ”

BONDS

Citz Ind Tel (T H) 4Ys '61. H Tel Tel Rt W 5%s ‘55 H Tel & Tel F ndp ndp

Ask.

s Water Co 5%s 53 ... s Water So 5Y2s '54 . rstate Tel & Tel Bias 53. 0h Boron Water Works 5s '58 1302 Morris 5 & 10 Stores 5s ’'50 gr

Muncie Water orks 5s '56 . Noblesville H L Ohio Tel Serv oo ‘47 Richmond 5s

L 5s Sai Water Works. > 56 ... T H Water Works 6s '49 .... Trac Terminal Co 5s '57 STOCKS *Balt Rail 8 ¥ com *B RS Y pfd

Cent Ind P *Home T &

Hook Sigs mn : 17% *Ind Mich Elec “Co pid ‘7s 108”

*Ind Gen Serv Co

South Ind Gas s Beep pfd ‘6s 190" T Elec Co 6s .

*Ex-dividend.

Investment Trusts (By Thomas D. Sheerin & Co.)

*Administered Find 2d Affiliated Fund

meri | i Shares

Cen tury har *Corp “A” *Corp AA *Corp Trust Shares Diversified Trustee Shrs ** *Diversified Trustee Shrs ‘‘C” Diversified Prustee Shrs “D” Dividend Shares I ve General Bore Trust *Incorporated Investors Investors Fund Am 02 *Market St Mvestment Corp 30.35 Maryland Fund 18.69 Massachusetts Investors ver 26.31 Nation-Wide Sec Co “B” ... .33 *Nation-Wide Vo oting 1.83 *North American Tr Shs 3.35 *North American Tr Shs 3. 3 *North American Tr Shs :

ne ent om

gatarad S22

orig) Cumulative Shares 9.5 Income Shares .... State St Investment Sop. “Supervised Shrs Inc (Del Trustee Standard Oilshs “A” [rust ME

Ss oe On

ee | tane an

est United ‘Standara oi unds. gselps Dselps Ss cp *Uselps Votin *Ex-Dividend.

. Unlisted Stocks

(Blyth & Co.) NEW YORK STOCKS

248200 140300 Oh On; =3353833%

Bankers Trust ...... Teens Santial Hanover .

Chas Chemical Continental Guaranty Irving Manufacturers National City First National Boston National Shawmut FIRE INSURANCE Aetna Fire Ins

American Ins of Newark Baltimore American ..

ional Fire National Liberty ... North River

Ss Fire = Westchester Fire .

Produce Markets

EE Rea

18¢c. 11.628 (92 score)

* Ree 3 a Hd JF

New York Leads in Consumption

9,169,151" a

‘| Gt Nor Ore

DAILY FROM DEC. 1%"

MW etsel Market Bureau, Ine.,

ERESEBRVER

{

oN ~

wed ow wae ww] ® wf a - ew en oy - el en es] ee wd wed of ®dow od od Hq we - od we od we =

oP wlowm]leo of oo of «=

WIL. *| = = [= == [= on comms

M MAS == JUN, la wm Foor wes Iunsindy 2 SD O N

1 ' i 1 i : 1 1 I Ll S

12 19262 216 23306 DEC. JAN. FEB

wed wel wd ma oa eed

Hee lee me w]e] w]e sd od ede de

1320275 121926 28 !

’

R - >a ©

v ’ 1 . T

623307 142128

- o-oo -

’ 4

MAR. APR. MAY

New York Stock Exchange Prices

Oils—

Consol Oil Cont of Del .... Houston (new)..

Ohio Oil

Pet Corp Phillips Pet .... 4 Plymouth Oil ... Oil HH

Texas Corp Tidewater Assn Un Oil of Cal

Steels—

am Roll Mills. Beth Steel ‘ Byers A M. en! Cruc Steel Inland Steel ... Ludlum ' Steel .. Keespor Tin.

i el Rep Iron & U Pipe & v 8 Steel U 8 Steel pid. . Warren 20s War Pipe & Fdy 26 Youngstn 8 & T 61%

Graham Mot Mens Hudson vein Mack Truck’ £ered

0 Studebaker 1 Yellow Truck ..,

Motor Access— Bendix

udd Mig Budd Wheel ars Eato Elec Nis Lite. Elec Stor Bat .. Greyhound “EF”. 5 Houdaille Murray Body ... Stew Warner ... Timken Roll Timken Det Axle 1

Mining— Alaska Jun

Cerro De Pasco. . Dome Mines .... 54 oo 17Y, a Va © ages 397s 33%

Homestake Min Ins Copper Int Nickel ..... Kennecott Cop.. Phelps Dodge ... Amusements— Loews Inc Radio Corp Paramount

arner Bros.. Tobaccos— Am Tobacco “A” 982 “«B” 99,

Lig Lorillard Ppilip Morris Reynolds Tob ‘B' Rails— Atchison B&O

rie Gt Northern oid. Ill Central

R Shion Pac West Maryland . Equipments— Am Brake Shoe. Fdy.

ir - Westingh Elec . Cie

Am Ts Am on &1 Lit 12% & er. 1663 "2314

Serv in So Cal Soon’ o Std Gas 2 Stone ® Webster 19% United Corp . 1s Un Gas

To 157% Ut Pwr & Tt GA" 43, Western Union... 84% Rubbers—

‘2 | Goody 4{U S Ru 8

Sher US Rubber ‘pid Hh Miscellaneous— Allis Chalmers .. 463% Am Can 130% Ancho! Pp 3rklyn Man Tr.. fn 3urroughs Add.. 25% I Case 173 Contl Can 76% Caterpillar Tract 76s wn Cork .... Surus Pub

L. 36%

Low.

(By Thomson & McKinnon)

Noon N. Y.

Aviation—

Aviation Corp .. Boeing Alrett “e Curtiss Wri Curtiss Wrig yg Douglas Air Bor Am Av HE Derry rp Unitd Aircft New 22% Chemicais—

Air Reduction ..

N. Y. Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100)

20 Util 105.6

60 Bonds 96 3

Low 90.0 84.7 93.3 (Copyright, 1936, by CLR OS oatistioss

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

v Close close

1947-52 ..

102.18 tera] Farm Mortgage Corp. 102.26 103.17

102 44 103.15

’

3 Big Four 4l:s ohe%% & So 4las

Grt Northern 4l%s '76 Grt Northern 4'>s 177

Il Cent 4%s ’'66 Ill Cent Jt 4%; Ill Cent 5s ‘63 Interntl Hy Elec 6s ‘44 Interntl Tel & 3 LY yas ’39 ... 9 Interntl Tel & 7% 1 5s Interntl Tel & McKess & Rob 5

Nickel Plate 4s 78 Nickel Dias 52s "4 Y Cent bs 2013 N Y Cent dhs 2013 (old) . Nor Amer Co 5s ’61 Nor Pac 3s 2047 Nor Pac 6s 2047 New Ofleans Tem. 4s '55 Otis Steel Penn Ry sree 8 Penn Ry ts 81 Pac G & E Portland Gen Eo) 42s ‘60 Para Publix 6s i A Penn P & L 4los Postal Tel & Cab 5 *53 Rem nd WW

Sou s ’56 Sharon Stl Hoo Texas Pac 5s '79 Texas Pac 5s '77 Union Pac 4s ’47

Warner Bros 6s '39 . Western Mary 5la2s nr. Western Mar, Ek >52 Youngstown & T 4s '65 . 987s Youngstown 8 & T 3%s "51. 11107% FOREIGN Argentina A 6s 57 ... Brazil 8s 41 ...........

6laos ’52 Tokyo City 51% Yokohama 6s '61

New York Curb

(By Atkins, Hamill & Gates)

eg OTD Pet. um Coxp - Crocker-Wheeler Elec Bond &

- Money and Exchange INDIANAPOLIS STATEMENT:

Pac Lite 4la2s | P

199% 14% 149%, 26%

Allied Chem ....200 Com Solvents ... Du Pont 14 Freeport Tex . Monsanto Chem. Natl Dis (new).. 26% Schenley Dist ... 40% Tex Gulf Sulph.. 35% Union Carbide .. 90% U 8S Indus Alcohl 34%

Drugs— Bristel Myers ..

199 200. 14% 149 149; 25 25 94%, 94Y 26Ys : 40 35% 90 34Y

45 45 4% 4 19%2 19%; k ... %F 15 Un . 12% Zonite Prod A Financial— Adams Exp oo 11% Am Int Corp ... Lg Lehman Corp ...102 Transamerica ... 14 r Conti Corp... Building— Am Radiator . Gen Asphalt . Int Cement Libby Owens Gia 3 Otis Elev us Gy sui cone Household—

Col Pal Peet ... Congoleum 3 Kelvinator Mohawk Carpet. Proc & Gamble. Servel Inc Simmons Bed ... Textiles— Amer Woolen .. Celanese Corp .. Collins Aikman.. Gotham Hose .. Indus Rayon ... Kayser Julius ...

CHieads Stocks

(By Atkins, Hamill & Gates)

27%

Prev. ! Close. Allied "Products «....... seeoRe « Asbestos Mfg 2% Bastian Bles’ing y 11%; Butler Broth 8% a Cent III Pub “Service pid . Cities Service Commonwealth Edison . Continental Steel

Cord Dayton Rubber Electric Household ... General Household Godchaux Sugar “A”......... 33 Qodehau Sugar Jarvi Libby MoX McGraw Electric ieee Motor Sp “AY Northwest Bancorporation .... Northwest Engineering 4 Yq Public Service of Robern Ill. 80% ortex "Cup Dredge pfd 32 Z - 25Y,

New Bond Issues

(By Lyons & Co.)

Mus.

Asso Tel 4s ’65 B & O 4's ’39

C&O 6 Chicago ro St 3%s i Chi ot B 4158 re? Jee Cin Un m 3s 7 Cleve ice Tus $s Yes’: Cleve Tractor 5s ’45 Columbus Railways 4s ’65 10 Conn River P & L 3%s ’61....105 Consolid 103 Consolid

Eien Morse Deb 4s 50 Iowa South Util 5%s ’50 Jones & eughiin 415s al ‘ Kansas P L 4%s ’65 0S aine etro Ed inn Gas 5 Gas Lite ’'50 Monon W Dr 4s ’60 Y Cent 3%s ’46 Niag Falls Pw Okla Natur Gas 4s ’5 Okla Natur: Sas Conv % 46. .

G&E Ss 104 Soke 4s '50..

Texas Corp 3 51 Union Pacific 3%s 'T1 t 3s ’6

:| LANDIS IS RE-ELECTED

« Duties Another Year. By United Press WASHINGTON, July 1.—James M. Landis today was re-elected chairman of the Securities and Ex-

term. He has held the post since September, 1935.

the commission, seemingly put at rest reports’ that he contemplated leaving. the SEC to take a post on the faculty of Harvard University.

CHICAGO GRAIN FUTURES (By James E. Bennett & Co.)

‘Wheat— July t. ge fe Corn— July

93%

Fenennes

gervonane

cavstansn

lo ®esevegse

July

. oan

Beeovegiess

senses ens

esas

sessannes Sepevnnan

ae hey 233

ge »

Chairman of SEC to Contifue His | pas

change Commission for-a one-year |

Landis’ re-election by members of |

SHARP REACTION CHECKS UPWARD SLANT IN HOGS

Market Unevenly 10 to 25 Cents Lower; Receipts Show Increase.

A sharp reaction, caused by increased supplies at nearby markets and a lighter demand, checked the recent upward movement in porker prices today at the Indianapoils

Union Stockyards.

Weights from 160 to 200 pounds showed a loss of 20 cents a hundredweight, while neavy grades, scaling upward from 200 pounds, were 10 cents lower. Light slaughter classes, from 160 pounds down, suffered the full extent of the decline, ranging around 25 cents lower. The decline, however, had been expected for some time by many traders who said that local prices were out of line with those being paid at surrounding livestock. markets. Prices at the other markets today were uneven,

Top Is $10.95

Swine receipts at the 11 livestock centers in this area today were estimated at 53,000, compared with 46,000 a week ago, and only 29,000 a year ago. Local shipments today were estimated at 6000, and holdovers numbered 152. The top price for good and choice weights, whichhwreached the highest level since April 18 in trading early this week, today was forced down to $10.95. Bulk of 160 to 225 pounds cashed in at $10.90 to $10.95. Extreme heavies, ranging from 300 pounds and upward, sold at $10.15 to $10.50, while light slaughter pigs, from 130 to 160 pounds, brought $10.25 to $10.75. Packing sows held at $8.50 to $9.50. Activity increased in the cattle market with most prices about steady. Early interest centered mostly in fat steers and yearlings. Bulk, of steers sold from $7.25 to $8 50, while heifers brought $6.50 to $8. Beef cows were salable at $4.25 to $5.25. - Recejpts numbered 1200.

Lambs Again Slump

Vealers maintained a steady trading range. Bulk of good and choice kinds was selling at $9 to $9.50. Receipts were 600. Extreme weakness continued to prevail in the lamb market and as a result prices again were generally 50 cents lower, the third consecutive similar decline for the week.

HOGS Bulk. si [email protected] [email protected] 10. 3001) .00 11.10 11.10

[email protected] Light lights (140-160) Good Medium ; 1160-1 -180)

ediu (180- 200) edium (200-220) ° (220-250) Good Heavvweights g (250-290) Good (290-350) Good Packing sows (275-350) Good (350-423) Good (425-450) Good LL Spedium Sanghi?

June. Receipts.

choice. . ‘choice. . [email protected] choice. . choice...

[email protected] [email protected]

140) od and choice—

Medium CATTLE —Receipts, 1200— (550-900) Choice Good

Boat oaiis

SOU GUINTINONOU PATO LND UND Sosn333u8adu3

ow tado-ad

Goo a and medium . (750-800) Good and choide.... Common and medium

PUPIR INBINKAINARID

Common and medium Low suger and cutter. Cutter Bm. and med. bulk.. VEALERS —Receipts, 600— Sood and choice $ Me.

GAB INIWW PPIVDIIBDO®IND DLONN-I BONNY oon

oomLmw =X-%

Ato Eh 323% (SISISTSTS BR SESE BR STSISIS ISIS ISIS ISIS ISIS

pam 333 3338

. Calves (250-500) Good and choice. Common and*fhed Feeder and Stocker Cattle 1500-500) Good and choi i mon and medium vB (80030801 Good and “choics 1. Common and mediu

ne 232338" 33 03 50930 0d e893

oe ob An) ad ng wlll i pt nv

88 88838 aa

d Common and medium SHEEP AND ‘LAMBS —Receipts, 1000—

Lambs, choice $ [email protected] Good 9.00@ 9.50

Ew 3 150-170) Good and choice... iho 330 Common and medium 1.50@ 2.15 {Sheep and a quotations on clipped

ERective July 1, spring lambs classified as lambs.

E. B. HALL NOMINATED

Edward B. Hall, presidz=nt of Harris, Hall & Co. Chicago, has been nominated for president of the Investment Bankers Association of America. He is subject to election at the annual convention of the association to be held in Augusta, Ga. Dec. 2 to 6.

BANK REPORTS

Local Credit Reservoir Has $1,000,000 Growth During June.

The. Indianapolis Federal Home Loan Bank increased its assets approximately one million dollars during June, B. F. Burtless, secretary-

‘treasurer, said today.

The increase brought the total assets of the bank to a new peak of $9,400,000 and it was accom-

plished without the aid of government capital, Mr, Burtless said. Deposits of member savings and loan associations and stock subscriptions to the bank account for the growth. The local bank ended the sixmonth period with a two-million-dollar gain in ‘loan volume since Jan. 1, making the total in excess

‘| of $6,200,000, Mr. Burtless said.

“Practically every dollar of these advances to member associations is being used to supply the home financing needs of the local communities,” the official said. “The emergency refinancing of mortgages and repurchase of savings and loan shares is on a constant and definite decline. A renewed interest in home ownership is demanding more funds for purchase and renovation of home property. “The Indianapolis bank at present has 172 members in the territory it serves — Michigan and Indiana. This is an increase of 19 members in six months.”

NEW MANAGER NAMED

G. R. Douglass Takes Charge of Mutual Life Office Here.

G. R. Douglass has been appointed manager of the Indianapolis office of the Mutual Life Insurance Co. of New York, officials announced today. He succeeds G. A. Ramsdell who is to retire after hav-] ing been city manager for the company since 1914. Mr. Douglass has been with Mutual Life since 1928. He is a native of Tekamah, Neb., and a graduate of Nebraska Wesleyan University. Before entering the life insurance field, he served -two years as student employment secretary for colleges and universities located in Lincoln, Neb. ‘He was transferred here from the St. Paul (Minn.) office of his company where he was agency organizer.

Other Livestock

(By United Press)

GO, July 1. Hogs — Receipts, cluding Y8500 rly slow, steady ts lower than Tiesds 's average; .95; desirable 170-250 I $10.70@ heavies sold; 140-160 ibs., $10.50@ ws, 1 Oto 15 cents lower. mostly [email protected]: few, $9.50. C p! 0, 000; calves, 1500; very little done on fat steers, suppl; y good, choice and prime kind lib: beral, undertone steady on toppy kinds and common rade offerings, but weak to lower on medium ana weighty steers of value to sell at $8.50 upward; top, $9.50; some held above i: several loads, $8. 50@ 9; stockers and feeders firm: all she stock actve and strong; bulls fully steady at $5.85 down; vealers 25 cents lower or 50 or 15 cents lower for week to date at $9 Sheep — Receipts, 18,000; spring lambs, 50 cents lower: spots’ off more; yearlings steady: to 25 cents lower; fat ewes about steady; all classes except springers active, native spring lambs, 10; best held higher: throwouts, '$6@7; most fat ewes. £3.75; 1 FORT WA Ind uly 0.00% 580200 15 cents lower: 160-180 Ibe. $10. ., $10.75: 225 Ibs.. $10.65; 225-250 2 oy 5: '275- 300. + Ibs,

$10.20; roughs, $8.50; staj Hi $7; calves, $9: lambs, 9.50. 2 8;

LAFAYETTE. Ind., July 1 rg aMrket 10 to 25 cents lower: 2 ., $10.65 @10.75: 225- Ibs.. $10, 55@10 bs 250-275 1bs., $10. 40@ 29. 30; "275.325 1bs.. $10.10G 10. 25; 170-200 1 $10.70; 130-170 1bs., $10 @10.25; T000330" Bp.

SW to

[email protected]: roughs, $9 down; calves, $8.50 2 own.

Investment Service

We offer government, land bank, home owners’ loan corporation, federal farm mortgage corporation and high grade, general obligation municipal bonds. We also execute buying or selling orders for customers in other types of securities. May we be of service by “advising } you in regard to your present investments or . supplying your additional requirements?

GAIN IN ASSETS

WALL STREET

EXPECTS LESS INTERFERENC

Close Contest in Fall Presidential Race.

BY RALPH HENDERSHOT Times Special Writer

chance to win the presidency in November. A tend that, no mater which party wins, big business is to receive bet=

Government than during the three years. President Roosevelt, it is pointed out, has had his own way entirely since he came into office. Members of Congress have been afraid to op‘pose him because of the favor with hich he has been eld by voters. And his appointees Hendershot have taken all sorts of liberties with

last

tempts to carry out what they pree sumed to be the wishes of their chief. These New Dealers, it is held, have made a great many enemies for the the Democratic Party in their over-zealousness. And the Republican Party “already has indicated that it will seek to capitalize on these mistakes. Consequently, when the votes are counted next fall it will be found, according to the political experts in Wall Street, that the general attitude toward the New Deal is not: supposed to

Old Deal Discarded

But the contest will not be one between the New Deal and the Old Deal, it is contended. The Old Deal passed into the discard when the control of the Republican party went into new hands. The Repub lican leallers will attempt to make

the fight on the issue of Dictator ship vs. Democracy, according to all accounts. We are likely to get a certain amount of inflation no matter which party is successful. The victor will attempt to carry out promises which cost money. It will be difficult te raise the needed funds through tax~ ation, but. it will be easy to borrow. Government agencies, including the Federal Deposit Insurance Corp. and the agency holding the unemploy=ment insurance tax, will be in the

eral bonds. Both parties seem to favor the curbing of monopolies, which prob= ably means that the Sherman Antitrust laws will be more vigorously enforced in the future. This will be in direct contrast to the operations of the NRA, which invited ice fixing, generally regarded as | being the most obnoxious feature of monopolies.

Views Much Alike on Currency

Apparently there is little differ= ence between the -two parties on the question of currency, with the exception that the Republican party would take away the right of the President to further devalue the dol« lar, President Roosevelt has shown little inclination to make any further changes in the gold content of our currency, so the safeguard may be an empty one. Neither candi= date seems to favor immediate stabi=

| lization.

No matter, which candidate wins, he probably will have greater come

velt has had, and it is to a very large extent because of that probs ability that big business may be justified in feeling more confident. of the political future.

Other Livestock

(By United Press)

light SUDDIY; Tassers; ket ulk common to medium steers and heifers, S208 available of quality

mostly pla quali slow to about grade

ts 1bs.. 0.50: 5-300 Ibs. HY J:-y88 ibs.. $9.95" $8.35 Sheep—| Receipts 1800. hes "light, ki cuality P of lam! supply plain: bette: y 50c lower: plainer grades ord generally ste teady: ter ewe and w ambs. $3 to most]

bet $9. 50; including oo Be outs, el

down; lambs, $8.50 £ Pr, Eves. 3 $1.50@3.

NEW YORK, July 1.—Many pere sons in the financial district here concede the Republicans a fair

A greater number con=

ter treatment at the hands of the

the rights of others in their ate

‘market for large amounts of Fede

petition in Congress than Mr. Roose=

LOUISVILLE, July 1.—Cattle— = 309, including 98 Sivects: slau Bia

Financial Leaders Look for

one-sided as it was Ais