Indianapolis Times, Indianapolis, Marion County, 7 July 1936 — Page 16

avery -

autos, w

Suggests Way to

PAGE 16

TUESDAY, JULY 7, 1936

2 Motors.

nk Mators.sold the | nu | : gor cars in the first guarter, the total being. ne 1 while Ford sold 166,000. In the same period last. year, Ford sold 207,000 units to 184,000 by General

‘Guard Investing ~ Public.

BY JORN T. FLYNN ced

TEW YORK, July 7.—The Securities and Exchange Commission has, in a general way, held - that the stock broker who acts as . & commission agent for a customer

“tought not to be allowed to trade’

for his own account. At least that is the general drift of their findings. But, after reaching this con- _ clusion, the commission seems to draw away from doing anything very eflective about it. | It indicates that the com-

should not be allowed to trade for his own-account “on the floor,” but thst he might be permitted to do his trading “off the floor.” 5 This recalls the proposal which was ceriously made to the framers of the Stock Exchange when it was being prepared. The question of pronibiting stock brokers from acting as ‘investment bankers or underwrit‘ers came up. The suggestion was { made, and by an intelligent man, ‘that no stock exchange house should be permitied to carry on the same door its name as a stock firm and an investment banker; but >that the entrance to its investment . department. should be through a +. different, door, than its brokerage + department.

: Flynn

» » ” HE commission, in its report, seemed to ignore one important element in this subject. It failed te consider the eflect upon the market place as a whole of ths

practice of permitting exchange members to trade as speculators for their own acount.

. The members of the Stock Ex- ; change are not merely brokers and traders. They are also, as members of the exchange, rulers of the mar- . ket place. They make the rules "of the game, the standards, the - practices, the habits of thought. * They give to the market its char- . acter d tone and tendencies.

. 2 a HE | market, as such, has but one| excuse for existence— namely |that it serves the investing

© public. |Other forces which enter the market may be tolerated merely because they are ineradicable or becalise in some way they ad- + vance the serving of the investing { public. | Now it must be plain that the ! interest of the broker who repre- | sents the investor and does nothing . else, will be different from that of . the floor trader who is a mere § gambler for his own account or . of the broker who is also a specu- “ lator for his account. His approach . to the problems of the market, his . standards, his objectives will be i. different.

» ” ” MARKET place which is governed by a group of brokers . who do not speculate at all will be ' a very different place from the one : in which the practices and rules and standards are made by men ~ who are primarily speculators and gamblers. If this is so, we see that the

question is not merely how far the broker may in individual case

cipal when he is also speculating. It becomes a question of what sort of market place the whole business * of buying and selling the securities of American business corporations is going to be carried on in. There will never be a sound and useful exchange until it is made up and governed wholly by brokers.

On Commission Row

(Quotations below, subject to change,

LA PEE IO ERE CCETR A

to buyers § BY, Jocal’ commission Seaicre. ) FRUIT aspbersies, balck, 24-pt. $2.25; ns pt. cr $3. Huckle ~ Florida, 16- a — Si, 85. Michigan, % crate, $3. ican, carton; 20c. Bananas—Selected, 10. B%c. App ay 50@2 1.emos—Sunkist (360s). $7.25. ripened) he 3 —Geo corgi 0 1bs., 75¢. eoche Hiley elles,” half ‘bushel, a 1.40. 24-1b. lug, $2. ‘Plums—Red and basket crate. $2. Gropes—Seedless,

les — Transparents, (360s), 75;

mission broker

fail to represent wisely his prin-

by United Feature

are average wholesale prices being offered

. crate, erries— Gooseberries— Limes—Mex-

Ball Cantalou Miu Ry (vine ¥. Watermelons orgia, 2 hicots.blue, 425-

1b. crate, $3.78 VEGETABLES—Beans—Round stringless (hamper), $1.50 Beets—Homegrown, doz. 20c. Carrots _—Homegro wn, doz., 40c. Cauliflower Homegrown, bushel, $1. 50. Celery— Baan washed and trimmed (doz.), 45c. Cucumbers—Hothouse (doz.) . Corn— $1.75. Ee Plant—Louisiana . (hamper), $i. By Kale—Homegrown, bushel. | @5c. Lettuce—Iceberg, California (4s and 8s). $3. oi Sl ea (10-1b. basket), 65c. cu rs— Louisiana (hamper), - 158 3 APRAKeL. 5c; dos. Mint— 50c. Onions—California ‘Bermuda Po. 50- bh, Pg | $1.25. Parsley—Home- . doz. ‘eas— Homegrown, bushel, otatossCullfornia Long hites . $3.75; new Triumnhs +1100-

I Cg hh

Sa 45c. Fo 25. "Fo maothousé homegrown ' (10-1b. basket),

‘FRUITS AND VEGETABLES {By United Press) July 7.—Apples — Yellow 8 2h tia ot ares. Tennesse: bu., $2.25. rrots— 0 unches. Cabbe e—Tilinols, 75-1b. crates. $1.18@G2.

Bpinach—Illinois, bu.. 40@50¢c. Tomatoes— T! . $1. ral 85. Caulifiower—Washton, crates, $1.40 Peas—Washington, bu., hampers, $1 3301.90, Celery—Mi square crates, 50@65c. Onion market - Ib. sacks), California yellow Bermudas,

Tp Markets

ted a id for stock The Drices = " a He

CHICAGO. $1.50.

BR EIS PLANS

85c.

ec. 38 | Dec.

BOOK HEARINGS ON COMMODITY

Department of Agriculture |®x Sets First Session in Chicago, July 27.

Times Special CHICAGO, July 7.—The attention

of the grain trade is centered now on public hearings, scheduled to

EXCHANGE ACT

New York Stocks

(By Thomson & McKinnon)

N.Y. Oils High. Low. Noon Atl Ris wuss 38% a 28% Barnsdall 18

of Trade, on administration of the | newly passed Commodity Exchange | Act.

Purpose. of the hearings, as announced by the United States De- | partment of Agriculture, “will be to | give the Secretary of Agriculture the benefit of trade views and to afford exchange officers and members, as well as the public ge:erally, opportunity to be heard on various matters that may be dealt with by rule or regulation” under the Act.

Traders Expect Good Reaction After a three-day session at Chicago, one-day hearings at Minneapolis and Kansas City and two-day discussions at New Orleans and New York are scheduled.

Traders here believe the exchanges will emerge from the hearings acknowledged as the Kkeystrne in the business of finding markets for farm products and for moving surplus crops from areas of plenty to sections of need. They say this is a function the. exchanges have performed for more than 80. years.

Editor States Case

The Northwestern Miller nas the following to say in this connection: “Grain exchanges, as well as all other established commodily exchanges which now serve a legitimate and useful purpose in supplying the means for orderly trading in contracts for forward delivery, will continue to exist and function. So long as seasonal crops havc to be handled, stored and distributed, exchanges in some form will continue to be an essential part of the machinery of trade. “This for the very simple reason that they provide a useful service not only to the commercial trade in commodities but equally to producers and consumers. Without them growers would receive less and consumers would pay mere,—a fact perfectly well known to ail men of intelligence. and commercial experience.”

PACKERS IN STATE

Proposed Change Believed Beneficial Locally.

Indiana meat packers today were studying - probable effects of a report by Interstate Commerce Commission examiners proposing a -readjustment of freight rates for meat packers. The report, announced here through the Indianapolis Chamber of Commerce, rates on products from Iowa packing houses be advanced in amounts | ranging from 12 cent to 6 cents a hundredweight. Rates for Indiana packers remain the same. The proposed rates, if adopted by the commission, will tend to open additional markets to Indiana packers heretofore prohibited because of excessive freight rates in this district, the chamber said.

FIRM REPORTS BEST MONTH IN HISTORY

Life Insurance Sales in June Exceed Previous Records. Times Special MINNEAPOLIS, July T7.—June sales of $7,408,391" exceeded June, 1935, sales by 69 per cent and June, 1929, figures by 28 per cent, making a new high month's total for regular business, according to the June 30 new business repdrt of Northwestern National Life Insurance Co. Total of $31959317 of ordinary busines far the first six months was also the best of any corresponding period in the company’s history,

first six months of last year, $31,487,141 in the first half of 1930, sng $30,761,924 in the first half of Total sales of all classes of business, including group, ‘were $33,886,125 for the first six months of this year, the report stated..

CROP REPORT ISSUED

Canadian Bank Finds Major Portion of Wheat Satisfactory. Times Spectas : MONTREAL, July 7.—Hot, dry weather has reduced wheat crop

of Canada, according to the weekly crop report of

the acreage is generally satisfactory,

breed the report stated, crops are deterio-

rating and rain is urgently needed

in extensive Sathorn conditions are

reported in Quebec, Ontario, the

: | Maritime Provinces and British Co- Alt | lumbia. In most of these areas, ex- Am cellent crops of hay, alfalfa and clover are reported.

Chicago Grain Futures

(By James E. Bennett

a Cenesa. 111% 1.00%

Sramneaa

Corn—

July

80% a9 ad

sassvenn

3 Ta rNR Ree - Sats Nans Sane

B open July 27 at the Chicago Board :

STUDY RAIL RATES i

recommended that | Som &

comparing with $28,313,225 in the| Gen

prospects in the Prairie Provinces | Penn

the, Bank of Mon- | Wesiworth tea | treal. While the major portion of

|For Te

Ludlum Steel .. Mc Ressport Tin. Mid Steel 3 -Steel

Rep Iron & Steel U 8S Pipe & Fay.

U 8 Ste 3 . "122% 8%

el U 8 Steel pid Warren Bros . Youn'wn 8

Motors—

Graham Mot ... Hudson

Hup Mac

Reo aie Studebaker : Yellow Truck . Motor Access— Bendix Bor yarner us Tr Pr Buda Eaton Mfg . Elec Auto Lite . Greyhound 5 Houdaille Murray Body . Timken Roll . Timken Det Axle

Mining— Alaska Jun ....

Cal & Hecla ... Cerro De Pasco

Kennecott gon: McIntyre Mine. Park Utah . Phelps igs ve St Joe Lead .... U S Smelters ... Vanadium 1 Amusements— Crosley Radio .. Loews Inc 4 Radio Corp Paramount ..... Warner Bros ... Tobaccos—

Am Tobacco ‘B’ 1002 Ligg-Myers ‘B’..109 Lorillard dere 23a Philip Morris 8212 Reynolds Tob ‘B’ 54% Rails—

Atchison 3, Atl Coast Lines 233 B oO 1

& Can Paeific .... Ch & Ohio. ... Chi & Gt W Chi & Gt W pid CMA& St P C M & St P pfd N 5

Erie pfd 19 Gt Noroliern pid Ill Central .. 21 Lo Nash | ie

M & wee MK & T pfd.. Mo pas Bia

35% Norfolk 8 West 2d,

Wabash West Maryland. . Equipments—

Am Brake Shoe. Am Car & Fdy.. Amer Loco .

Pullman Inc .... West Air Br.... Westingh Elec... Utilities— Am & For Pwr.. Am Pwr & Lit.. AT&T Am Wat Wks

119%

- . NW HNL MINI

Faec Pwr & Lit." t T&T

Nat Pwr & Lit . North Amer .... G &E

Peoples Gas aes Pub Serv N J . So Cal Edison. Std Gas Stone & Web . Uhited Corp ... Un Gas Imp Ut Pwr & Lit A West Union . Rubbers—

Firestone Goodrich

84%

J S Rub pid . Miscellancous— : Ais Chalmers . 133

p .s Buroughs Add. J I Case Contl Can 1% Caterpillar Trakt 72 Crown Cork .... § Curtis Pub Deere & Co ... Eastman Kodak 169 Foster Wheeler . 25!3 Gillette 14 Glidden 43 Int’ Bus Mach .. Inter Harv .... Natl Cash Reg. Rem Rand Be and E.. Fools Armou

Bontovae Cream’ y Borden Prod .

Retail Stores—

Allied Stores .. And Dry Gods..

est & Co .... First Natl Stores imbel Bros ....

thet as om

Boat oRanS FEF

Gn 8 Bean *

a ow

geese susdelsdy ugg g a

FEF SRiunssie

wou

U 8 Indus Alco Drugs— Coty Inc ......

|»

® f

. Prev. Close.

18 12% 29% 21% 12 41 14

2 %

132 | Tr Con

32% 17% 13

31 34%;

3 2 | Cor Tr Shares (Orig)

1 ship betw

4 Gregory, Prairie Farmer editor, Chi-

. 1913 ens S3Ve Furnace 35% t Cement .. 41% Johns Manville .108 Libby Owens Gls 59% Otis Elev U 8 Gypsum....

Household—

Col Pal Peet ... Kelvinator Mohawk Carpet, Servel Inc Simmons Bed’ .

Textiles—

Amer Woolen Celanese Corp .. Collins Aikman Rayser Julius ...

Chicago S ots

(By Atkins, Hamill & Gates)

29%

5% "22% 445, 272

% 22Ys

44% 27% 2 fa

Prev. close. 7

. 21%

Advance Aluminum Allied Products Associated Yavestors Bastian-Blessing Berghoff Butier Brothers Cities Service Commonwealth Edison - Continental Steel Cora

Cra Electrical Household General Household Great Lakes Dredge Jarvis Mig Ken-Rad T. Lincoln Printing McGraw Electric Nachman Spring Filled Northwest Bancorporation ... Standara Dredge Pfd

New York Curb

(By Atkins, Hamill & Gates) i P. ot

Aluminum Co. of Amerida . Nx

Am Cyanamid ¢

Am Gas & Elec Am General

Am Superpower ..... cans Ark Nat Gas “A” ..... Atlas Corp ...... teneeinensenne Carrier COrp -...c.es. Sess eesas

Creole Pet Corp .! Elec Bond & Share Fisk Rub %|'!Glen Alden (1) Humble Oil & Refining Co Imperial Oil of Canada Molybedenum Corp of Amer. Natl Bellas Hess Inc Niagara Hudson Pwr Pennroad Corp Aa Reliable a Corp Root, Petroleum . St. Regis Paper Co. Sesal ond k Sono Do Motor Car of Amer .... Tachnipoler. Ri ; 20 Wayne TT Vitamin Fuller Brass

EERE RY

Investment Trusts By Thomas D. Sheerin & Co

*Administered Fund 2nd.. *Affiliated Fund, Inc. Ameriean Bysiposs Shares. . Bullock Fu Ltd. Broad Street’ Investing

Cor “AA” or Cor ‘‘AA” or “Acc: a

Bid. ked. .. $16. g HT 68 is .03

iversified Tr Shares “B’. a iversifizd Tr Shares “on

General Investors Trust .... *Incorporated investors Investors Fund Am *Market Street ov "Corp. Maryland Fund veiw *Massachusetts Investors | oe Nation-Wide Sec Co “B”.. Nation-Wide Voting . *North Amer Tr Shs 1955. . *Northh Amer Tr Shs 1958 ... North Amer Tr Shs (orig). . Q arterly Income Shares.... Selec Am _ Shares, Ci, ected Am Shares (Orig). ected Cumulatiy= Shares...’ ate § upervised (De Stand Ollshares ndard Oilshares

elps Uselps Voting *Ex-divide end

U nlisted ted Stocks

(Blyth & Co.) NEW Yom STOCKS

ase Chemical . Continental .

g Manufacturers National City First National Boston ....... .s National Shawmut FIRE INSURANCE Aetna Fire Ins American Ins of Newark Baltmore American City of New Y Federal Fire Pel A Franklin American ‘Ins’ 323 Great American Ins

N Phos

FARM PAPER EDITOR TO HELP IN SURVEY

Two Experfs Added to Inquiry on Co-operative Enterprise. Times Special WASHINGTON, July 7.—The Secretary of Agriculture, at the request of the President, has named Ciifford

cago, and Robin Hood, secretarytreasurer of the National Co-opera-tive Council, as associates on the Inquiry on Co-operative Enterprise in Europe, it was anounced today. The two are to join other Inquiry members in Sweden, where they are to devote the major part of their attention to studying the relationnsumers’ co-opera-tives and agriculture and the use of agricultural commodities. The council was originated by the President for the purpose of reporting upon the general 8] Speration of consumers’ ‘co-operation in several foreign countries.

PULLMAN REPORTS NET Times Special CHICAGO, July 7.—Net profit of $993,374 for the five-month period ended May 31, against a $1,802,663 loss for the similar months last year was announced today by the Pull-

NATION MAKES INCOME GAINS, REPORT SHOWS

Advance Made for Third Month; May Figure Below Oct, 1935.

Times Special NEW YORK, July 7.—The national income produced . in the

United States rose in May for the|3s

third consecutive month but was still below recovery peak attained in October, 1935, an Alexander Hamilton bulletin said today.

The nation's income’ in May amounted to $4,847,000,000, compared with" $4,207,000,000 for May, 1935, an increase of 15.2 per cent. The sum was placed at $4,747,000,000 April, 1936.

5-Month Gain, 12.9 Per Cent

A gain of 129 per cent was reported for the first five months of this year, compared with .uc corresponding period last year. The total this year was $23,305,000,000 and for the first five months of 1935 it was $20,651,000,000. The institute's bulletin also reported that the quantity of goods §{ Produced during the first five months this year showed an increase of 12.6 per cent over the volume in the same period last year.

Fourth Year of Expansion

“This was somewhat less than the gain in the national income,” the article said, “since prices averaged slightly higher during the first five months of 1936 than during the corresponding period of 1935. “While 1936 represents the fourth year of expansion since the low for the depression, ‘the quantity of goods produced during the first five months was still 16.1 per cent smaller than in the like period of the pre-depression year, 1929. This curtailment was due to the fact that prices during this period were too high in comparison with the national income. .

Farm Shipments Higher

“The output of manufactured goods in May was the same as in April but it was 20.7 per cent larger than a year ago.

major industries, automobile production and cotton textile activity in May dropped below the rate in April but steel mill activity. increased. , Building contracts on

which manufacturing is consider-.

ably dependent, showed a moderate curtailment in May as compared with the April volume. All these industries, however, were decidedly

more active in May than a year

220. “In the field of agriculture, shipments of farm products in May were 9.6 per cent larger than in April and 13.4 per cent larger than in May last year. For the first five months there was an increase of

. | 16.8 per cent over a year ago.”

Local Securities

(Reprinted From Late Times Yesterday) (By Indianapolis Bond ‘and Share Corp The following quotations do not re resent actual bids or offerings, but mere y indicate the approximate market level based on buying and selling inquiries or recent transactions.

“BONDS. Tel (TH) 4%s '61...101 512s 10 We %

L & P 6Y%s '47.. Serv 6s "47 ......... 100 Ww 5s ’57 105 Water Co e "89 = rao10} L 58 veee.108

102 Water Works 6s '49 .103 Terminal Co 58°57 venues 15

STOCKS

Belt Ball 8 Y com ...... ess BRS Y pfd 6s 54

Hook Eons Inc o Ya & Mich Fes So ofd 9s Gen Serv Co 6s 100% Hydro Flee Co 1s pls Gas Co com 6s pls Yow & Lit "Co pid ndpls Pw & Lt Co Indpls Water Co pid .102%; *North Ind Pub Serv ord has Ya *North Ind Pub Serv pfd 6 79 *North Ind Pub Serv Co pra. 7s Si

Pu 9a South Ind as Toa pla pfd 5s..101 T H Elec Co 6s 96

Union Title Co com ........ *Ex-Dividend.

BOND ISSUES LARGER

Total State, Municipal Financing Exceeds June, 1935, Sum. Times Special NEW YORK, July 7.—State and municipal financing for the month of June totaled $111,264,575 as compared with $68,303,384 in June, 1935, day Daily Bond Buyer revealed toay. - The June total included $3,871, 000 of PWA financing and $2,795,883 of RFC financing as compared with $431,000 for the PWA and $3.711,662 for the RFC during June, 1935. The revised total for May, 1936. was $96,425,554 which included $650,500 of PWA and RFC The total for the.first six months of this year is $625,341,316.

—————————————— BANK DEPOSITS Times Special i CHICAGO, July T.—A quarterly

Among the

~ New York Bonds

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

1991-33 ouvavusvasinnins 946-56

esssvpacssrasna,

Home owners Loan Corp. : S48 1048 1.:eien.ieiseerees 10110 101.12 Pals: 10211 103.19 Federal Farm Worteage Corp.

1964 . Crs sienn eins 201.15 201 3%s 14S

New Bont Issues

(By Lyons & Co.) 105% 99

Cent Ore Pwr 4s '60

C & O 3las v . Chicago Un St 3%s '63 . hin West In 4'2s '62 n Un Term 32s ’71 a Flec Illus 3% Cleve Tractor 5s ’4 sie Columbus Rallways 4s '65 & Lit 3%s "61

] Cont Im ss '66 125 '96

11064 105%

9 10415 .1015% 103% . 92a - Edison Illum 3%s ’'65 . +107 Fairbanks Morse Deb sis ..100% Iowa South Util 5'%s 104 Jones & Laughlin Hy 81 ... Kansas P L 4's ’65 ... .....1087% Los Angeles G & E 4s '70 ++ 108% Louisville & Nash 33s 2003 ... 98 Maine Cent 4 ’45 99% Metro Ed 4s 6 107% Minn Gas & Lit ’50 Monon W. Dr 4's '60 N Y Cent 33s ’48 . Niag Falls Pwr 3%s oss vases Okla Natur Gas 4'2s 5% .... Okla Natur Gas Coay 5s ’46..100 Pac Lite 412s 45 Pac G & E 3%s ’61 . Peo Gas Lite 2 Coke 4s 761.

105%

106% 105% 97

Texas Corp 3%s 'S1 .... Union’ Pacific Vhs ”L. West Penn 3'2s ’66 Wis Gas & Hlec 3Y2s 66 . Wis Pwr & Lit 4s ’66 Wis Pub Serv 4s ’'61

ISLAND POSSESSIONS NEAR SUGAR QUOTAS

Have Been: Imported.

By United Press ; WASHINGTON, July T7.—The AAA has announced - that during the first six months of this year, 3,483,529 tons of imported sugar was charged against the 5,062,057ton quota for off-shore insular territories. The AAA said that 30,771,674 pounds of sugar had been imported from full .duty countries, .of the 44 502,559-pound quota for the entire year. The importations from off-shore territories, during the = first six

for the full year: Six Mors 1936 Siolas Cuba 1,581,45 2,039,349 Philippines . : 1,098,738 pert 0 Ri 693,859 882,084 wail ’ 1,036,904 Virgin Islands saviee 1,030 5,796

Totals 5,062,057

MOTOR PRODUCTION SHOWS SMALL LOSS

Soldiers’ Bonus Believed to Have| Held Sales at High Level. Times Special

mobile production for the United States and ‘Canada continued at high levels last week with output at 102,833, a decline of 1640 compared with the preceding week, Ward’s Automotive Reports said today. Increased orders, resulting undoubtedly from the soldiers’ bonus, are proving to be an added stimulus to the current sales demand and will be: the means of holding up production at higher levels than was

| anticipated.

Sales through - April and Mel Ward's revealed, were in excess of production and while final figures | © for the past month are not available the same is held to be true, proving that manufacturers are keeping production closely geared to sales.

Chase National Reports Gain of $23,541,000 in Quarter. Times Special > NEW YORK, July 7.—The Chase National Bank statement for the second quarter showed deposits of $2,083,326,000, a raise of $23.541,000 over the figure for March 4, officials announced today. The amount was $323,197,000 more than a year ago. Total resources amounted to $2,356,357,000, compared with §2341,493,000 on March 4, and $2,0217,704,000 a year ago. .

NET INCOME HIGHER F]

survey today showed Chicago banks | 1

reached a new alltime top for de-]

posits, with an advance of $347,727,000 from the March 4, 1936 figure, year | SWSllig: hie otal depusits 10 $43,

20TH CENTURY MIMEOGRAPHING Bemis Letter Service

(Reprinted From Late Times Yesterday)

Ask.

AAA Reports 3,483,529 Tons

months, together with their quotas

- DETROIT. Mich, July 7.—Auto-

-Bulls,

BS sagt er sans 1

Aas ssaveners TIN 2030... Tal rarer Pie 97%

: 3%: SHE

25 101.15 103.18 | Colorado & So 4:

rie Grt Northern SG 43 as Grt Northern H 4s '46 Grt Northern 4's '77 10% on

Ill Cent Jt vs ‘63 7% Ill Cent 5s ’63 83% Interboro Ra id’ Trans’ 5s ‘66 : a Internt] Hy Elec 6s ‘44 Y. 47 Internt] Tel & Tel 4'2s ‘39. 9 221% Internt] Tel & Tel 5s ’53 857 Interntl Tel & Tel 4l2s 81% Lehigh Valley 4s 2003 2 . McKess & Rob 5'as iL 103; Mo Kan Tex Adj 5s '6 oe: Natl Dairy as 51 Natl Steel 4s ‘65 Nickel Plate 4'2s '73 Nickel Plate 512s '74 NY Cent 5s 2013 NY Cent 4Y%s Ly Jolt) NY Cent i Nor Pac 3s 2 Nor Pac 6s 2047 Nor States Pow 5s ’41.. Pe 4s '63

Postal Fores & ob 5s '53 . Rem Rand WW 4s '56 Shell Union Oil 3's '51 . Socony Vac 3's '50

Texas Pac y+ ’80 Texas Pac 5s '79 Texas Pac 5s '77 Third Ave ‘Adj 5s 60 Union -Pac 4s "47 United ‘Drug 8s '53.. I S NEA 5s '47 .

NY NH & Warner Bros 6s ’39 Western Mary 5'%s °77 Western Union 5s ‘60 Youngstown S&T 4s ’61 Youngstown S&T 32s ’51 ...

Argentina A Australia 4's '56 .... Brazil 8s ’41 . Canadian Govt 4s 60. . Denmark 4'2s ’55 German 5'%s ’65 German Ts ’49 Italy 7s ’51 Poland Ts 47 Rome 6!5s ’52 Tokio City 5'2s ’'61 ..

Local Livestock

HOGS Top. $11.10

June, 30. July 3 3. 8. 1. Light lights: J40-150) Good and

Medium Lights iat hts:

Bulk. [email protected]

Receipts. 6500

6000 4000

choice. Slain [email protected] ) Good and ro Li re sea a 80-200) Good and Medium Medium - rele his (20 a Good and choice.. 20-250) Good and choice. Hero mnte (250-200) Good and (290-350) - Good and Packing. sows:

choice... 3105 : : it 2 10. 8

choice’ . 10: 810. 9 [email protected] [email protected]

[email protected] [email protected]

choice. choice.

(275-350) Medium Slaughter pigs: (100-140) Good and choice... Medium Dice:

CATTLE —Receipts, 2600— (550-900) Ct.oice Good

000 wooo = «3 BI On NNO

«300

aR333h ened

9935393993933 NO

BE auays

( 1300-1509 Choi ) ce .

ow AAR NS OF

03333 ©8333

A and medi (750-900) Good and dom a: ose . Common and medium ......

Cows

PAID INRINRDINAD IN

gsoah ShEER BUGRN

Good ‘a Common and m rediu Low or and cutter

and med. bulk..." VEALERS —Receipts, 800— Good and choice ..... Seveernis Medi save vasennis oe! hd ‘common

Shika Bagh Se

Cutter gd

aoa FCC 338 03 9IN 95 0d OBRM IPIND 00INO-T-300 oa oS

mon

WI Senn o8S

(250-500) Good and shoice. ‘ie Common snd meaiom ee (500-300) er and, Sts Stocker Cattle

.@uaa ow aJedadal =2 Shaner os

eI bd wovon

SHEEP AND LAMBS

73a

TSWINE VALUES DROP. 10 CENTS

Traders Explain Decline Is Caused by Evening-Up Movement. Swine values were mostly 10-cents lower today at the Indianapolis

Union Stockyards. The decline was attributed to the fact that local

ss | prices were slightly higher than in

surrounding centers rather than to the heavy shipments of this week. Receipts were estimated at 7000 today and 8000 yesterday. Leftovers numbered 113. Last Monday and

Tuesday shipments numbered 6500 each day.

Bulk of sales were in weights between 160 and 235 pounds with the prices ranging between $11 and $11.10. The latter was established as the top for the session.

Cattle Market Active

Porkers weighing between 238 and 260 pounds: sold for $10.90 to $11; heavies, from 260 to 300, sold for $10.65 to $10.90, while extrems heavyweights, from 300 pounds up,

classes, between 130 and 160 pounds, sold at $10.15 to $10.65, and those scaling between 100 and 130 pounds were disposed of at $9.40 to $10.13.

‘lower, the sales range being between $8.50 and $9.50. All slaughter classes were active in the cattle market where prices were fully steady. Receipts also were heavy, being reported to bs 2600. Calves numbered 800.

Top Steers Bring $9.10

Top steers brought $9.10 with the bulk selling for $7 to $8.25. Best heifers sold for $8.65 but most sales were for $6.75 to $8.25. Beef cows brought $4.25 to $5 and cutter grades sold at $3 to $4. = Vealers were 50 cents lower, the top being $8.50. Bulk of better kinds brought $8 to $8.50. Sheep receipts were about. 1200. Lambs were generally 25 cents low= er, the top price being $1025 with the bulk sellihg from $10 down. Sheep were steady. Slaughter ewes brought $4.50 and less.

Other Livestock

(By United Press)

Julv 7.—Hogs—Receipts, 14.009; cluding 500 dir:cts; opened fully steady on 240 1 down: later slow, weak: op. $11.15; ates 170-240 1bs.. $10 954 35 33:8 Po, heavies sold: sows steady at Battie Receipts, 7000! calves, ee: fed steers and yearlings steady weak: mostly steady on light 2 inen: water filled liberal this being a factor in general market: early eT Jeers, $9.33: heifers selling up largely 33@9: Sin and a cows about steady: grassy kinds. Northwest oboe up good share o Crop and selling at $4.50 down: bulls 10@13e higher; yoalers ‘uncvenly weak to 23 lower at $9 down. Sheep—Receipts. 3000: fat lambs: and vearlings unevenly strong to 25¢ higher: ewes about steady: earlv bulk desirable lambs, [email protected]: few $10.35 to all interests; dahos averaging 94 lbs. $0.83 straight. few yearlings $7.50@8. 25: held higher: most fat twes. $3.50@4. - LAFAYETTE. Ind.. July wg ket steady to 10c lower: 300.335 bs.. 10.55 @10.95: 225-250 [email protected]; 280-373

275-325 Ibs. ’ 810 80: 100-170 Ibs., $9.50 35 down: calves, top

CHICAGO.

$7. 59; fambe. $9 d . July 7—H

FORT WAYNE. Market 10c lower: 160-180 1bs., $11.50; . $ -225 1bs., $10. 85:

100-120 .. $10.40; Sy $8.50; ‘stags, $7; calves, $0.50; lambs, $9.50. ; EY Times Special) July 7.—Cattle—Receipts 300; 0: supply EE ter cattle light; deman: fairly broad; market opening moderately active and generally steady with Monday's upturn most common to medium rassy slaughter steers and heife .50@17; better finished dry Je ered salable to around $8. Sows, 34.35a5: ; goed ods elig most low cutters and cu @4; Sausage bulls considered salable mostly 85.25 down; most stockers and feed $550 down. Calves—Receipts, 325: better rade “vealers opening weak to 50 cent. ower; plainer grades littl good to choice grades, $7@ choice, $8.50: most med grades, [email protected]. Hogs—R cludin

e. 1000, in390 direct; he 3. ctats lower weights and classes, excent these 35, Shs 2 better 160-225 Ibs

230-250 1

1bs, hb “ip. 07 7: “Fan.1ss 1 SOWS, 438.35. £Pieep—Receipt market not Jully developed; double of choice he eayy mbs, 25 Senta bigher er 3 11; Pract ica i nothing done o Monday — Cattle, IH ments’ $85 Hogs, o4n: Sheep, 5 ‘Shin: attle, : calves, ’ hogs, 304; sheep, 2083. '

Money and Exchange

INDIANAPOLIS STATEMENT Debits

around

AT CITY YARDS

brought $10.30 to $10.65. Lighter.

Packing sows were mostly 25 cents

BANK'S DEPOSITS RISE. ot

—Receipts, 1200— Lambs, choice Good

7.28 6.50

(90-170) Good and choice ... Common and m

$ [email protected] - 9.25@ 9.75

8. 1.25 4 Sho 32a 5 3 » (Sheep and 1am Notations on clipped Effective July 1. a aetly y spring lambs classified

TREASURY STATEMENT (By United Press)

penses and Fecaibls for the current fiscal year to July 3 ago:

Expnses Recef

This Year 74.744.913.20

WASHINGTON, July 7.—Government exe . as compared with a year

1, 3.41 ai

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And other leading Exchanges.

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—WE BUY. SELL,

and gladly furnish quotations oa:

Bonds of the United States Government, os Territories and Insular Possessions

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