Indianapolis Times, Indianapolis, Marion County, 11 July 1936 — Page 27

Outlines ‘Issues. on

Two Fronts of

cording to crafts. The new leaders want industrial unionism — all workers in a single industry, lik: steel or coal, formed into a single great union. The new leaders have chosen the steel industry as the battleground for launching the drive for industrial unionism. The other front, of course, is the field where the steel workers will confront their employers, the socalled steel barons. There are half 8 million men in the steel industry. Only a handful are organized in weak craft unions. : SO ® = = OHN L. LEWIS, chairman of a committee called the C. 1. O.— Committee for Industrial Organigzation—has started a drive to organize steel workers into a single ~ great union. No strike is threatened: No demands are made on the employers. No*wage increases or hour cuts are asked. Recognition of the union is not asked. It is merely a campaign to organize a union. The steel employers oppose this. They say it is a drive for the closed shop. They oppose the closed chop and Obpose efforts to somipe! their employes to join or not to join a union,

This brings up the right of the workemp to organize. That's the only issue thus far. The employers say their employes are organized in company unions. Lewis says the company unions are company creatures, supported by the bosses and foremen under charters drawn up by company lawyers. The steel employers deny this. How far employes have . “chosen” to join these unions is a point which can be settled only by inquiry. ” ” o

B= there is one point which is clear to every one. There are as many company unions as there are companies. There are, in some companies, as many unions as there are plants. There is no in-dustry-wide organization among the workers. But the employers are organ{ized into a single powerful union +—the American Iron and Steel Institute. The appeal to the country on this very question is signed, not by individual employers, but by the American Iron and Steel Institute.’ “The issue is, have the employes the right to organize a single union in the industry? That is the only question now. Later, when such a union makes demands, other questions will arise. But they are, not here yet. (Copyright, 1036,

Commodity Prices

(By Abbott, Proctor & Paine) | COTTO

NEA Service, Inc.)

High. . Close heen 13 0 i 12.62 12.60 12.67 12.61 12.58

NEW YORK COTTONSEED O1L P High. Low. Close. goemir 3R IR Foot 'g0e 088 9.89 BUTTER Close

: Es week. ........ i; ~ sidan,

on AsvRY ‘STATEMENT 1.—Government

Foes gd Gi the a fs

This Year Last year 4 203.481.7157 § 431.437.6845 109,458,527 nee 3.401.380 100

8.567.260

Ae sEawsas

ia . sassnas sessasene gE : Se —————— |

10.02 | resent actual b indicate

[SHIPMENT OF ‘ : FOUND SOME LIGHTER

Lo of Potatoes Is Picking Up; Supply of Melons Liberal.

Times Special WASHINGTON, July 11.—Produce shipments declined about 7 per cent during late June and early- July, being held in check mainly by the weak showing of melons, cantaloupes, peaches and tomatoes, the United States Department of Agrisulle stated today in in its weekly repo port. aiits of string beans, corn, carrots, cabbage and onions decreased quite sharply, the report said. Lines moving in fairly steady volume were lettuce, celery, citrus fruits, honeydews and apples. Prices of fruits and vegetables were inclined downward near the Fourth of July, but some lines were recovering soon after.

Potatoes Are Small

Potato shipments were the first to- indicate signs of recovery from the low status ocupied immediately following the holiday. Prices have increased in some localities at more

than 25 cents per hundred pounds New stock shipments have been

cars a week, mostly from Virginia, North Carolina, Kansas and Missouri.. Potatoes in general have been running in small sizes, the result of the drought and extremely hot weather during the growing season. Kansas and Missouri Cobblers have been selling in Chicago at 32 to $2.75, while California long whites brought $3.25. Onions shipments from Texas seem to be about over, the volume having decreased to about half the usual mount. Prices were mostly steady at 80 cents to $1.25 per &C pounds in city markets.

Tomato Prices Even

The major supply of tomatoes is coming from Tennessee and Texas. selling at fairly even prices in the midwestern markets at from $1.25 to-$1.75 per lug box. Watermelon supplies were liberal at midwestern markets. With slow demand, track holdings were inclined to increase. Prices declined as much as $75 per car early in the month at Chicago. After a poor showing in June peaches returned to more natural levels the first part of July. Mid-

Hileys 85c to $1.40 per half bushel. Demand has been slowed considera-

plums, cherries and cantaloupe:. |S

source of supply, have been reduced

drought. Raspberry receipts from Michigan are picking up, while Illinois, Tennessee and Kentucky crops are short. The prices have held fairly Steady in the red and black variees

quantities,

LAW MAY BE TESTED &

Financing Draws Fire. Times Special WASHINGTON, July 11 —~Constitutionality of the Indiana statute

sion of credit in retail instalment sales and for licensing and regulation of firms engaged in instalment

was revealed today. In a registration statement filed before the Securities and Exchange Commission, the Commercial Investment Trust Corp. indicated it may institute a new action to test the law.

Local Securities

(By Indianapolis Bond and Share Corp.) The Jollowing Juotations qos bh not yep. or offer , ‘but mere the approximate 8 aot Jevel recent transacti "BONDS Citz Ind Tel (T H) 4%s "61... H Tel Tel Rt W Sias "58 . +

moving in volumes of about 4000.

bly by recent interest in western |P

Indiana is shipping small | |

based on buying "and selling inquiries or | DO

New York Stock Exchange Prices

Volume approximated 870,000 shares compared with 370,000 on June 27, the last Saturday session. Curb sales were 231,000 shares compared with 93,000 shares on June 21. Dow-Jones . preliminary’ closing averages showed: Industrials, 160.72, up .65; railroads, 50.34, up .48; utilities, 34.71, up .33.

(By Thomson & McKinnon)

Oils— High. Low. Close.

Amerada Atl Rf

western markets quoted Georgia |qoy¢

Pet Corp Phillis Pet Eure Oil oil

Georgia shipments, usually the main | Soc ey in quality, due to the heat and|80 of NJ

as Corp , Tidewater Assn. Un Oil of Cal . Steels Acme Steel ... Am

Ludlum Sté eel Me Kesspors Tin 101 d Steel 3812

Indiana Regulation of Instalment |W

of 1935, passed for the regulation of | Hup charges in connection with exten- |Na

Studebaker ... Yellow Truck ..

Motor Access—

11% % 18% 11%

137 | Anancing, may be tested soon, it |Bendix

B Elec Auto Lite... « Blec Stor Bat Greyhound Houdaille ict Body .e Ste Warner. ve rimken Roll . 1 mken Det Axle 17% Mining— Alaska Jun...

1% 16%

16% 16% 28% 28% 11% 36% 36% 10Y2 10% 53% 53%

Ye 53% 17% 17% 49

Joe Lea : uv 8 Smelters . A ‘Amusements—— Crosley Radio .. Theat

x ws Inct ....

23 x

S30 35

Lou G & BE (A).. 25% + 12%

Western Union.. 89 ‘Rubbers— : cesees 28%

a Us Roatoay ‘pid 74° Miscellaneous— Allis Chalmers... 46% Am Can ..... ...135 Am Mach & Fdy 23% Anchor Cap 16% Briciyn Man Tr. . rs

26%, 2

as C an 11% llar Tract ni otk

ye in

on 45% Int Bus Mach...170% Inter H 81

Un Biscuit United Fruit. . ‘Retail Stores— Allied Stores ...

McLellan a Marsnail Field... May Dept Nail res

Wootworeh Aviation— Aviation Corp.. Boeing Aircft . Curtiss Wrigh Curtiss Wri; Douglas ‘Air .,.. 68 Nor Am A

Vv eo 8% perry 19

8 Corp ... ; United Air'aft N 24%

th Alki Natl ooe Th . BE

Tex Ch Ba lf Sulph Union 8 Us pas ana Aleoh

1 . 61%

e astman dak “189 4 Foster Wheeler. : a Gillet 14 Slidde

nt. St a3 1

25 1

| Guif 5% | Humble

Allegheny Corp... 4Yy 4% Int Co -} 11 AD ASI, Fo 13 Tr Contl Corp... o% 9 ‘Building— Radiator .....

ment Johns Manville 107% Libby Owens Gis 60Y2 is Elev

en Cons ..... 'Household— : 147% 34% Kelv 20 (ohawk "car 21% Proc & Gamble 48%

Servel Inc 23% | Simmons Bed .. 32

Textiles— Amer Woolen .. Sas Celanese Corp 24 Collins Alikman 4 Ya . 20% 20Y CMe 21% 10% 10%

Kayser Real Silk

Chicago Stocks

(By Atkins, Hamill & Gales)

Prev.

close,

( [; Co C Cr!

Electric "Household -

&L eaieeend Libby McNeil & Libby .c.oeen coln Printing Yenanves McGraw I c ee Nobiiss-Spat arks Northwes Bancorporation . . International ......

£ . 2 Williams Oil-O-Matic «.cocivne Vortex Cup &

fats Northwest Shgingerin 2 Schwitzer Cummins ig

sansa

"New York ork Curb

(By Atkins, Hamill & Gates)

Close. Alumbam Co. of America.....131% 3 mid BY... diseas 3 6 sev eininse 43

gaissorsezusceut]

sevens

Oil /& International Vitamin .

Investment Trusts

(By Thomas D. Sherrin & Co.)

12% 9% 85

4% 108% 43

. Heo) Good and choice..

classes were breaking sharply, ly felt the depressing influence of steady flow of large shipments combined with lack of demand for fresh ‘meat due to the heat. These kinds dropped 25 cents today. Local arrivals for the five-day week ending Friday totaled 29,000,

Am compared with 26,137 a week ago Bait

and 24,708 during the same week of

1935. Estimated receipts today were &

1500 hogs, with 164 held over.

Top Price $10.65 Porkers between 160 and

250 | Col pounds sold for $10.40 to $10.65, the | 3

latter figure being top for the day. Varieties weighing between 250 and

| 280 pounds were salable at $10.10 |Con Gas 4%

to $10.40; those scaling between 280 and 300 brought $9.90 to $10.10, and extreme heavies were down to $9.15 | to . $9.90. : Lightweights fell to $9.75 to $10.25 for those averaging from 130 to 160 pounds, while 100 to 130-pound kinds brought $9 to 3:75. Packing sows were disposed of for $7.65 to $865. A few sales were made at $8.85. The cattle market was almost at a standstill with only 50 cattle and 100 calves on hand. Compared with a week ago, fed steers and yearlings and fat she-stock were 25 cents lower a hundredweight. Top steers sold’ at $9.10, but the bulk moved at $750 to $850. Top heifers brought $8.65. Late in the week beef cows were priced at $4 to $4.75. Cutter grades were sold from $2.75 to $3.75. Vealers were 50. cents lower, selling at $8.50 down.

The lamb market was hominally steady. Receipts of sheep ‘Were 50.

HOGS July Bulk T! 1 Hh p0Gi1 is nF : 11.00 1100 9. 10. Toa 10, 35 10. 1: 50@10. 5 11. [email protected] Light ighis: : (140-160) Good and choice. Medium

Lightweights: - (160-180) Good -and choice... 10. Ra; 60

edium 10.45 4150 2300) Good and choice. . M

op.’ Receipts. 11.20 11.10 Si 11.10 : 108 10.65

[email protected] 3 9.10G10. ab

10. 2961 10.65 diu. « [email protected]

Medium weight 200-220) Good and clivict.. 10.45 i 4

(220-250) Good, and choice. 10.90

[email protected]

{290-330 Good and choice... Pac ckin

(a-ha. "G GOO .vinennniss (350: Good ae) seessepbuenie {215-380} Medium .... Slaughteéi “pigs: : §100-140); Good and choice; » - Medium

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Common (1100-1300) esvssevssctests Good i Leeann secvsssssanes

sescsevessss

IPD IN ARID ISI POINS RIND H-IIN Doo MOOI :

Bg 833h3zhS

A, asa 00800 -3 L-

Common and medium (750-900) Good and choice.: Oommen. and medium ......

Smee sss

pawn 3a

Comm edium Low ier and cutter A

Bulls, good Cutter, com. and med. bulk...

VEALERS ~—Receipts, 100—

Good a choice ..... um

Senpsgecn 23 eee 2s

nN ov

sess sees

oa K10) 3388

sesnee sebse

"(250-500) Good and choice. . Common and medium

Feeder and Stocker Cat (500-800) Good and choice. . SC inon medium

(800-1 Sood met choice. . po and medium ......

-3 @

£8 Res £8

08 9888 69 so aae

= 838

Common wearing Eire, od to

sess es se semasne eur tany

| Sedan a wort Good and choice . base and

lamb EE Hn aly 1: som Gevsns Other Livestock By Press)

Close. I%8 1040-43 oerriiannienns. 108.03 is 10fe reskuiguerieeener- 1200 3 5s seeessbueraeses oA

sesenconsesssnans joi fe | Owners Loan a

- Home xs 1049 oi nai RIT 198% eal 28

Sess av sss an

43 ny 3

00 in ar

sea

Baes83R8., Hau Ae

FEAF

et 8

Ee 1T aareraeian 4s 43 ..

esses ine

Grt Norte “H” 4 rm 4'28 .102 Hue HE 58 '57...0 1 He, ty Elec Trans 5s Internt) Er Tel 5s 85 - ] 1 Tel & Tel Ales. 8 ves : Sv [nternt v el 's : Sars

1 Steel 4s ’ Nickel Plate 42s ng" desnsases 30 Nickel Plate 5128 "74 scccecees .102 3 Y Cen . 95%

or Al Nor %Pac 3s 204 Nor Pac 6s 2047 ; New, Orleans Term 48 '55 .... L903 Penn Ry 4Ys °’ as annn ens pen RY HS : as ana Gen = 41L8 80 eas gl

Sac ue 12s ens ansesne er Pac 4128 ‘81 .erevecennces 1 B30 45 40 ...ecesssiassces 94% u Rail 48 '68 ..ccs000 70% on Rail 6s '56 ... jou Rail 6'%s 38° Paxas Pac 5s '8 Texas Pac 58 E saendenser Third Ave Adj, > 60 Sassaseey Union Pac 4s’

000 nited Drug 5s Usd" .

U 8S Rubber 5s '47 .. Warner. Bros oe x “a Western Union 5s 60 Youngstown 8 & 4s 61. Youngstown 8 & T has 51.

FOREIGN

German assesses enes Italy 7 BE * Poland 7s ~ Cave mate ne i

Rome 8Y%s issues 78 Tokyo City Bas di 61. Foire AG

New Bond Issues

(By Lyons & Oo.)

oso Tel as = Meese Ri

Bid: seeness.108

48 ke bs '50 vi. 108 s Elec w 4s '56.... “ S3

oniavie Sain 3%s 2003... 98 McCror Lh 5s 51... er 108% Maine Cent 4s . Metro Minn a S 5 Lit ‘50 Mo: Yas

Niag 158 "66 Okla Natur Gas 4%s '51 Okla Natur Gas Cony 5s 4, ‘ids Lite 4s 5

Pas Pac G & x 3%s Peo Gas Lite & Coke 4s "61. Penn Tel 4s’ Potomac Elec PWR 3's "61 ... i

Saguenay Pwr 4%as . -100% Santiago G & E - Ss: cakeeis <100% 80 Cal hy sevdasnreae So Cal Edison 4s '60 edn So Cal Ed as 48 ..iisreeson.108 So Pac 3%s ‘48 SO 3s cavesnses 39% 107% 103%

102% On Commission Row

bject to . cha Borne Sie offered

(Quo Are aver belek 5p ate

bu to buyers t. crate igs Gooseberries— $3.

chr

est Penn 8 ’ ia Rata, Wis Pub Serv 4s 61 8 vere 9000

S%e. - TT ; le “nner. Ske Rad Sel

. (July

Oa! ‘White, R

| KOVANCE DURING

ACTIVE SESSID

| Chrysler, Coca , Cola

Westinghouse Make New Highs.

BY ELMER C. WALZER United Press Financial Editor NEW YORK, July 11.—Stocks continued to advance in active trade ing in today’s short session. The Dow-Jones composite average of 70 stocks reached: a new high since the average has been come piled. On the basis of the come ponent stocks today’s top dates back to 1931. Trading in the first hour was feae tured by an active opening when blocks of 1000 to 8000 shares ape peared. Gains Range to 2 Points Gains in stocks ranged to 2 points, Profit-taking reduced them moders ately. Numerous issues made new highs, notably Chrysler at a new high since 1929; Du Pont, Consolie

dated Edison, Coca Cola, Electrie

Power & Light, and Westinghouse Electric.

Stee) issues continued to move forward on hope a general strike in the industry would be averted. U. 8. Steep touched 61% up % and Bethlehem 515% up %. Motor shares failed to foll Chrysler up but most held at previous closing levels, Rail Shares Rise

‘Railroad shares rose under the

lead of New York Central, Southern

Pacific and Baltimore &- Ohio,

| Utilities * were in demand. Pacific Lighting reached 56, up 2; Consoli= dated Edison, 41%, up 5%; Electrio ‘Power and Light, 17%, up %.

Douglas Aircraft reached 66%, up 3%. Standard of New Jersey firmed. Coppers were steady and silvers slightly lower. ville rose more than a point. Hiram Walker was up that amount. in the liquors.

Bonds were firm except United

7_ | States governments, which were ir- ;

regularly lower. Commodities turned down after several days; of

sharp rise. atl

Chicago Grain Futures (By United Press) CHICAGO, July 11.—Grain range:

; "High Low Close 0 Wheat—

July <.eveoes 1.080 1.04 Sept 1

1. se eseses, 1.08 d Dec. scvccees 130 1086 i

Corn : JULY cocosense Sept. assess Dec. seven Dats Se: shone A oy sesevsee, Rye— July ... . Sept. ese Fo Barley JUIY ceiveiee Lard— JULY cecvcvnere

CHICAGO PRIMARY RECEIPTS

Todn eV Week.

% Wheat Nevers sates sve 4.834,

sdsesessesrssnss

Sais. available.

¢: No. Tic. On Ded en No" 3 white, 3875 @37ke: No. white, 34%2@35%ec.

LOCAL CASH MARKET 1o TE Tain ol elevators afe Paying 91 cents

grades on TR Cash corn new No. 3 vellow 76 cents and oats, 26 cents. 3

CHICAGO CASH GRAIN oy United Press : CHICAGO, July 11.—Cash rain: Th 5.07 & red. $ 08% @108%: No 2

le ‘red, 99 Wits: al 0% Ho. 2 Ba J Corn_xe.

isc: es c No. 8, yellow, 8 he fd

No. 3, Sales, athe a 40@60c, nominal;

Barley my seek. Teas: clover $10.500 say Beans, 3 Er $10.20: leaf, $10.12. bellies, 3

TOLEDO, J 11.—Grain Bb Jigs No.

No. 2 low.