Indianapolis Times, Indianapolis, Marion County, 13 July 1936 — Page 11

1985. T Pennsylvania sa wel is _pectations. The New York Central has been forced to. add coaches and sections to its trains.

~ MONDAY, JUL 13, 1936 WHEN DEVALUATION OCCURS

American Iron and Steel Institute

PAGE

Described.

EW YORK, July 13.—In the steel war which is in the making there are three armies— the American Iron and Steel Institute, the American Federation of Labor and the Committee for Industrial Organization. The last is led by John L. Lewis. _ One of these armies is not so well known, save by name. That is the American Iron and Steel Institute. It is the representative of the steel interests, speaks for them and will, probably, be the agency through which the industry will act. The Institute is, of course, interested in all the problems of the steel industry — technical, industrial, managerial, financial, social and labor. It is one agency through which the industry can act as a whole and with a great show of dignity. It is, in fact, the employers’ union. But the most interesting thing about this organization is the manner in which it is controlled. A steel man, particularly if he be a publicity man for steel, will tell you very solemnly that each of the steel corporations has but a single vote. United States Steel with its X st interests has but one vote, just as any small iron or steel company. This is true. But _ it is something less than half the truth.

| 2 ” 2 HERE are three kinds of members—honorary members, individual members (active and associate) company members. The voting membership of the Institute is made up of the active individual members and the company members. | There are 93 company members and 1140 individual active . members, according to the 1934 report. Each company member and each active member has a single vote. And in this large mass of votes the United States Steel orBethlehem Steel has but a single vote. But—and this is a very big but— : These 1140 active individual members are chiefly the officers and employes of the steel companies. Out of the 1140 active members, 950 are officers or employes of the steel companies and the balance are technical experts, unattached, or old retired officials of the steel companies. o » ” F these 950 active members, 275 are officers and employes of the United States Steel Corp, The Bethlehem Steel has 103 of its officers and employes on the rolls, Altogether the eight largest companies have on the rolls of the institute 518 officers and dizectors and employes out of 950—a clear ma jority. This is not all, for many of the unattached men are officers of small companies absolutely dependent for existence on the good graces of two or three large concerns. And some of those not put down as belonging to any company include James$ Farrell, former president of U. S. Steel, and J. P. Mor= gan, former chairman of the board. When the institute sits, U. S. Steel and Bethelehem Steel control 378 votes and together with a few other companies control a clear

MARKETS HAVE NERVOUS TONE, MAGAZINE SAYS

Labor Unrest and Drought Blamed for Spread of Uneasiness.

Times Special NEW YORK, July 13 —Both the drought and labor unrest came to the fore last week, spreading un-

easiness through the markets, Busi- |

ness Week reported Sacco, Crops such as wheat, potatoes and the very important corn are suffering from the persistent high temperatures and mniggardly rains, the magazine reported. Nevertheless, the publication's weekly index of business gctivity hit a new high for 1936 for the week ended July 4. At 759 it approached the recovery peak of last December. A week earlier the figure was 74.4, a month before it was 740 and a year ago the business barometer stood at 63.2.

Pare Farm Income Estimates

“Commodity prices have turned upward but farm income estimates are being pared,” the magazine said. “Stock markets have been disturbed by prospects of possible labor strife. Rubber centers, which have suffered from sporadic outbursts in the last year, are apprehensive. Detroit looks for trouble late this year when new model production is under way. The steel industry is preparing te preserve its historic open shop policy against a union drive. “Steel operating rates last week were below that of the preceding holiday week, but actual tonnage output was higher. The industry just completed its best six months since 1930, with a tonnage output 35 per cent greater than in .the firs half of 1935. It averaged virtually 70 per cent of capacity in the second quarter against 44 per cent in the same period of 1935.

Rail Traffic Improved

“Coal was moving into industrial consumption at a steady pace, though buying has been on a hand-to-mouth basis. “Carloadings broke through the 700,000 mark in the final week of the first half. Shippers are estimating the current quarter will run almost 11 per cent ahead of comparable months of 1935. In the first six months, railroads carried over 1,400,000 more carloads than they did in the first half of 1935. Net railway operating income in the first five months was 17 per cent better than for the same months of the preceding year, and June returns should further improve this spread. “Obsolescence, plus this improvement in earnings, has brought the railroads into the market for new equipment and supplies in greater volume than for any similar period in the past five or six years. Nearly | a half billion dollars has been spent | by the roads for materials, equipment and supplies so far in 1936. Buying New Busses “Railroad and bus fare cuts are adding their weight to the buying wave of new busses, since the new models are cheaper to run and thus can help offset any reduced income. And new equipment is also proving an inducement to more traffic. the first six months of this year, 2586 common carrier busses were de-

RATIO OF T.

COLLECTIONS TO NATIONAL INCOME

(PERCENT)

When taxation takes between 20 and 23 per cent of a nation’s income, devaluation occurs, according to Young & Ottley, Inc. invest-

ment managers. ence of this country, Fr: The present-rate of

At least, their report said, that has been the experie, Germany and Great Britain. erica’s tax growth means that national in-

come will have to reach 90 billion dollars by 1950, as compared with 50 billion today, or the 20 per cent ratio again will be exceeded. “However,” the survey added, “to maintain a margin as a guard ‘against recurring depressions, national inczme should increase at a rate that would reach $100,000,000,000 annually by 1950. That would mean

an increase of almost 20 per cent

over the peak of 83 billion: in 1929.

an increase of almost 20 per cent over the peak of 83 billion ni 1929. Such an increase seems out of proportion with present prospects and points to the possibility of ancihet revaluation within the next 10

years. »

EARNINGS IMPROVE FOR N. Y. G. SYSTEM

Increased Loadings Aid All of Railway’s Lines.

Times Special NEW YORK, July 13.—The New York Central Railroad, in its latest report stated that all its major lines shared in the improved earnings resulting from increased loadings. This statement covered com-

plete May and five-month operations of the system. The New - York Central itself showed for May a net profit of $73,493 after all charges, compared with a loss of $844,367 in the same month last year. For the first five months of this year a loss of $684,826 was sustained while in the same period last year, a loss of $3,423,198 was reported. Pittsburgh and Lake Erie Railroad for May reported a net profit

In of $421,767, as against $250,625 in

May, 1935. For the first five months net profit was $1,408,998, compared with $1,062,466 in the same 1935

| STOCK MARKET | WEEK IN REVIEW

BY ELMER C. WALZER United Press Financial Editor

NEW YORK, July 13.—Stocks mounted to the highest levels since 1931 last week in a progressively increased volume of ring] Chrys reached its best price since 1929

their tops, aided by broad gains over

a year ago in sales of new automobiles and trucks.

Nervousness over steel labor was alleviated and a rise took place in the stocks. All other groups participated. Of ‘more interest than stocks, however,

send grain supplies below requirements of the nation. also was responsible for a spurt in cotton to the best levels since 1934.

Grains Rose ‘Rapidly

Whereas a week earlier July wheat sold under $1 a bushel, it closed the week above $1.09. Other

and other motor shares were near | Re

Ii was the grain market], where prices were whirled up because a drought was threatening to]

A short crop cis Charles > Greathouse Jr., ‘Earle C. Her- | Ge

COMMITTEES OF BUSINESS GROUP

New York Stocks

ARE ANNOUNCED

Board of Trade Executives |S:“con

Appoint Workers for New Term.

Committees have been appointed | T

by the Indianapolis Board of Trade Board of Governors. They are: hurst Eise Rdward opShaisman; 1 os, PD, Hout aed ome 3 ogsbrEntier v Ed Ex-officio—William L.

resi~ ent,

us in—E. Cuttord Barrett, Everett E. Allison, H . Bern Albert O. Deluse, William rR ne Hayward, C. William Malbucher, Ia Patten and Edwin K. Shepperd. Grain Arbitration Edward D. chairman; Lawrence PF. Winslow Grain “Biscount—J. Glenn Btefphatt, chairman; George PF. Putturfl. Robert McConnell, Harold D. O’Brien and A Phillips. On lly C. Crabbs. chairman; F. 0. Branch and William G. Haug.

Others Are Named

Grain Inspection ADDeais. Waren K. Mannon, chairman; A. Dorgan, Samu ol R. Harrell, Lester H. Rich and Fred W. Scholl. Call—Charles S. Weirick, ¢ chairman; J. E. eer and Claude M. cord,

11. chairman; | U

H. Earle and Ewin J

Qtis Steel : 14% Rep Iron & Steel 19% U pe & Fdy. 45Y

26% waren F 8 Ss & 65% Motors——

Studebaker ’ Yellow Truck...

Motor Access—

Cor! Kendrick, EB Lore: Sale Br.

He ton. Siplitam C. Habig willard Sars and William PF. Kassebbum a Fiona A. Rels, chairL. oi >=, a Jenkins, John F. Russell Public Health oh Chvities Bag ar H. Evans, chairman; Fletcher Hodges, J. yan. Lyman R. Pearson and James H. Tay Rel Altred M. Glossbrenner, chairman: J. Martin Antrim, Fred G. Appel, Henry C. Atkins, Frederic M. Ayres, Eugene H. Darrach, James I. Dissette, Brodehurst Elsey, .Edgar H. Evans, Fred Hoke, Horace E. Kinney, Walter C. Marmon, William J. Mooney, James 8. Rogan and Franklin Vonnegut. Industrial Education—Edward W. Barry chairman; . Gardner, Gafish. 'A. Kiefer Mayer and H. Gage

Mercantile Interests—Carl PF. Walk, pI Tr ose K Levinson, Charles’ Mayer and Joseph E. Reagan Produce Group Listed

Pr oduce—LeRoy J. Keach, chairman; A. Dallas is sav 3. Wendall, Peter P. Triller an © chwomeyer. Railroad and Traffic—George H. Evans, chairman; William F. Benning, Edward 2 Costello, Harry C. Fisher, ‘William Evans, Paul M., Havens, Lew S. Hill, ie jamin D. Rhodes and Andrew J. Taylor. Fire Insurance—Fred G. Appel, chairman: Howard W. Fieber, H. Gage McCotter, N. H. Richardson and J. Smith Jr. Real Estate—_Comelius O. Alig, chairPe tls Sa Chligenh iam H. | B am, ristian gepberg, Morrison rw G. Pearson Smith and Ross

Live Stock—Benjamin PF. Sedwick, chair. man: Frank A. Bryan, LeRoy A. Mansfield, Clarence Roberson and John B. Terhu une. Arrangements—Isaac E. Woodard, chairman; Clarence S. Alig, Yo Martin Antrim, Lewis L. Fellows, Joseph C. Gardner, Horace E. Kinney, John A. Reis, Almus G. Ruddell and W. Hathaway Simmons.

. Membership Committee LS e L. Bend Sh ghalrman; ily vere y ison, R.

ere Malott Gretener *otto N. raze is J. Hill, Murray H. Morris, Nathan Richardson an Orville A. Wilkinson. House—Joseph C. Gardner, chairman; C. D. Alexander, George } Evans, Walter R. Kemper and Otto N. Mueller Law—Mark H. Milter, Iran; Linton A. Cox and Edward B. Raub.

-H. Wallac

harles

0! Greyhound Houdal daille Murray Body . Slew Seller. .

Tim Ro Timken Det Axle

Mining—

Alaska Jun .... am

Kennecott Cop.. Melntyre Mine ..

Phelps Dodge .. St Joe Lead .... Us Smelers “a Vanadium

Amusements—

Crosley Radio . Fox Theat Loews

Warner Bros ... 1I 10% Tobaccos—

Am Tobacco ‘B'. in 101} fen a ars . ol 2

Yers ‘B'. 13017 Pip orris ... 85 Lorillard

23 Reynolds Tob ‘B’ 55!2 Salle

pfd H. Gt Norinern pid. 3

Central ye ns

ul moo mmunications a Dallas Fitz, chair- | N v

Fermor Cann; Edgar H. Evans, Victor C. Rendall anne ames H, Taylor. By-Laws—Linton

George L.

s—Willlam J. Mooney, Be hairm A, Sehringer, George F. Buttrare, mody., Daniel L. Glossbrenner,

vey, Henry. Holt is J. Huesmann, Prank S. DESOTO. Eugene C Miller, Harold D. O’Brien, Gwynn F Patterson, Charles A. Reeve and William D. Springer. City Interests—Irving W. Lemaux, chairman; E. Clifford Barrett; Linton A. Cox Alfred M. Glossbrenner and Frank Langsenkamp.

Equipments— Am Brake. Shoe.

2% " 13% 8

r Br. 40% Westingh Elec. ..130% Utilities—.

| Am & For Pwr

Am Power & Lit. 155 AT&T 189% Am Wat Wks... 25% -

(By Thomson & McKinnon)

13174

49 35 29% 2% 48%, 40

40 130%

sRaRsss FEF a

Bate SEER

(By Lyons & Co.)

Ys | Asso Tel 8 '55 ciieeniennns «s.105 B&O ‘33

Columbus Railways 4s '65 Conn River Pr Li Is 3%s '61.. Consolidated 3'% Consolidated Power Ss 70 . Cu 3%s 55

M M

Ys | Cudahy Pkg 4s '50 Eastern Gas Elec W 4s '56.. Edison Illum 32s ‘65 Fairbanks Morse Deb 4s owa South Util 5l2s °50 . Jones & jaughiin 4%s ‘61 . Kansas he a '65 . Los An a a E 4s Ix gh % Nash 39s "9008. .e M Stores 5s '5 10: ent 4s '45

Ed 4s inn Gas E Lh an W Dr N Y Cent 5s “8

Niag Falls Pwr 31.8 ‘66 . Okla Natur Gas 42s ’51 Okla. Natur Gas Conv 5s '46.. pas Lue i

Local Securities

(By Indianapolis Bond and Share Corp) The followin resent actual bids or offerings, but mere v indicate the approximate market based on buying and selling inquiries or

33 Peg Gas Lite & Coke 4s '61.. Potomae Elec To 312s "61 .

rexas Corp 3%s '51 .. Union Pacific 3s a

quotations

recent transactions.

BONDS

Tel (T Bn Ja ‘61... Rt W 5

pls P Indpls Water Co *North Ind Pub

s Pub Serv of Ind pfd Ya Sout Ind Gas % Pilec *ptd 5s. 101%

Union Title on COM ss. ovusniss

do . not

% | 1ower.

[MOST CLASSES

OF SWINE AND

2 Drying Up of Water Supplies

Forces ) Farmers to Market Cattle. :

of hogs and cattle week with a continuae tion of the price declines which during the last week. Lack of demand for fresh pork during thé heat wave and drying up of water supplies and pastures, which has been forcing many farm ers to bring their cattle to market, are given as factors in the de-

Most ¢ started

% | pressed market.

Hogs were mostly 20 cents lower today. Underweights, however, were steady. Receipts here were estimated at 5500 with 140 holdovers. In the 11 markets of the Midwestern area, aggregate swine receipts were judged to bz 72,000 as compared with 69,000 a week ago.

Bulk Sells at $10.20 to $10.45

The bulk of sales were on pork= ers averaging between 160 and 250 pounds which sold for $10.20 to $10.45. Those scaling 250 to 280 brought $9.90 to $10.20. The 280« 300 pounders were salable at $9.70 to $9.90, while extreme heavies, weighing more than 300 pounds, were disposed of for $9 to $9.70. Lighter varieties were steady, the 130-160-pound weights selling at $9.75 to $10.25 and the 100 to 130 kinds at $9 to $9.75. Packing sows ranged between $7.65 and $8.60. A few sold for $8.75.

The drought was the cause of unusually heavy receipts of cattle. Local shipments were estimated at 1200, with 600 calves, while in 11 markets the total for today was set at 80,000, compared with 69,000 a week ago. It was said that cattle receipts seldom exceed hogs as was the case in the Midwestern area to= day. :

Cattle Market Slow

The opening on fat steers and yearlings was slow. Early bids were 15 to 25 cents lower. The early top was $8.10. It was inidcated the bulk would sell between $7.25 and $8. Heifers were weak to 25 cents

Best heifers sold early at $7.85. Cows were dull and easy, beef cows moving at $4 to $4.75 and cut= ter grades at $2.75 to $3.75. Vealers were steady with Saturday's prices. Bulk of better grades brought $8 to $8.50. Choice lambs were fully steady at $10.50 to $11. One outstanding lot brought $11.50. Slaughter sheep were 25 cents lower at $5.25 down. Sheep receipts were 1700,

HOGS July Bulk Receipts. Te [email protected] 7000 8. 10.90@11. 11.10 6500 9. [email protected] , 4500 10. | [email protected] . - 5000 11. 104051005 x 1500 13. / [email protected] y 5500 Light lights: 1140-10) Good and choice. .$ Jnaio4 43 i j160-180) Good and choice.. 10; 15@10:40 [email protected]

(180-200) Good and choice. «. 10. 103881048 Medium ...... Sevens ire 0.00210.25 Medium weights: (200-220) Good and choice.. [email protected] (220-250) Good and choice.. 1: [email protected] Heavyweights: (250-290) Good and ¢hoice.. [email protected] (290-350) Good and choice.. 0.20Q 9.80 Packing Sows:

(275-350) Good .

. | Cal Gas & Elec. 21%; Comm & Sou .. 3% ° Consol Gas 41%, Elec Pwr & Lit. 17%

Int Hydro Elec. 3% C h icag 0 S I oC ks

majority. .The steel fight, there- sEx-Dividend.

fore, will be carried on as fits the interests of these few great companies. This is the army which confronts Lewis. (Copyright. 1936, NEA Service. Inc.)

On Commission Row

livered by five major companies to wheat positions behaved corre- ; . period. spondingly. Corn, which was b REIGHT ON ik AT the bus industry, and chances are A net profit of $138,105 was re- | threated even more than wheat, had

t Sat or mpl SoH: would put ported by the Indiana Harbor Belt | wider gains. Other grains rose 6 Ine Boos oT buying wave of new busses is under Railroad for May, contrasted with |to 8 cents a bushel. LAKES NEARS HIGH =: Ri 15% wey by ¢ity transit. companies. $113,642 a year ago. Five months’| Stock prices were depressed early, jou iG aE Lil iin {By Atkins, Hamill & Gates) “The motoring public continues to net profit was ‘$627,932, comparing | but picked up on Wednesday and ———— Nort Amer 32 3 : Frey: grow. June sales of new passenger with $576,950 in the corresponding | Thursday. On Friday the advance Pac SX 39% Asbestos Mf 2% : five months of last “attr SopIes Gat 4 Associated th cars are tentatively put at 365,000 year. . acted additional buyers.

June Tonnage Falls Just |Bub serv N 3°. da%

Berghoft Butler Brother

«33a

£50) - Good . (275-350) Medium ......

Investment demand was noted for ALT es

(Quotations below, subject to change are average wholesale prices bein nee to buyers by lopal commission dea at FRUITS—Raspberries, black, 24-pt. crate $2.25; red, 24-pt. \ . 16-qt. crate, gan, 16-qt. crate, carton, 20c. Bananas—Selected, 1b, - Apples—Transparents, $1.50@2. Lemons— Sunkist - (360s) Red Ball (360s), $10.50. Cantalou s—Indiana Flats Jind 12s), 90c. atermelons—Georgia, 30 .. 75¢c.' Peaches—Alabama, Hiley Belles, ET bushel, $1.50. Apricots—15-lb. ne, $1.65. Plums—Red and blue, 4- baske crate, $2.- Grapes—Seedless, 25-1b. Do

VEGHETABLES—Beans—Round stringless (hamper), $1.65. Beets—Homegrown, doz. 25¢. Carfots—Homegrown, doz., 35¢c. Cauliflower—Homegrown, bushel, $1.50. Celery— . Michigan washed and trimmed (doz.), Cucumbers—Hothouse (doz.). Corn— 5+doz. crate, $1.50. Pl lant—Louisiana (hamper), $1.50. Kale—Homegrown, bushel, c. Lettuce—Iceberg, California 5s), $1.50 Ohio leaf (10-1b. basket), gh. Peppers— Mangoes, Louisiana go amper) fy basket, T5c; doz. int Onions—California aw. §50-1b. ny S81. 5 Parsley—Home-grown, doz p39 _ Colorado Tel., (hamper), $23 California Long Whites (100- 3. b 8 Potatoes = ew Alabama Triumphs, dishes—Ohio white (2 doz. ‘Rhubarb — Homegrown Sc. Sage—Doz. . Turnips— New bulk, bushel, $1. 25. Tomatoes—Hothouse homegrown (10-1b. basket), $1.15. - —————————————————————

Produce Markets

The Figes oted are paid for stoc fan red the country, while delivered Indianapolis the price is a cent higher, eavy breed hens, 12c¢c: Leghorn breed hens 9c; colored sbringers. 14-3 Is Tos. 15¢; Leghorn springers. ful thered, 16c; springers, 13c: oi Piucks, . 4% ‘Ibs. and fou} 3

Limes—Mexican,

e Ibs. will be m CG: No. Butterfat. 33¢. |

inn

(By United Press)

c: current aC;

21 dirties, 18%¢c; extra firsts, 22%ec; sin raputter—-Market, steady receipits, 13 Cc); extra frists, Ea Aa firsts, 32

dei store). Bed yn qn Tages” goose

12@i5¢ rd a aac: Sens 1 -

7 dames 5. Bennett &

| nation! 2 & 1

against an estimated 400,000 for May. Only three Junes in the history of the industry have exceeded 300,000 cars. “Higher pay rolls, new home con-

Sc. | struction, more marriages, the bonus,

and long-overdue refurbishing have encouraged home-furnishing manufacturers to look forward to 1936 as a year that will be the best since 1929 and perhaps yield a profit into the bargain.

New Rugs Introduced “Rug manufacturers presented their fall lines last week, the opening being marred by an unexpected price-cut in low-end rugs following

’ | the introduction of a new line by a

major producer. “The production probably hit the summe" low point last month and

. | factories are now about to turn to

fiilling orders on fall lines following successful recent shows. Production this year has held close to last year’s record level though the second quarter sagged below that of last year. “The hosiery industry sees 1936 as

X | equaling or exceeding the record

year 1935. Shipments this year have been running nearly 4 per cent ahead of comparable months of

tuii | 1935. Efforts to curb the piling up bs. | of stocks, particularly in the full-

fashioned branch of the industry. have resulted in some curbing of 1| output,” the article concluded,

"KELVINATOR GALES UP

J ~ Commercial Shipments Gain 52.9 Per Cent Over 1935. Times Special

DETROIT, Mich., July 13.—KelviCorp. a June |

INDIANA JOBS AMONG ENGINEERING AWARDS

Local Postoffice Is Included in List of Large Contracts. : Times Special NEW YORK, July 13.—Large engineering contracts awarded during the last week, as listed today by Engineering News Record, included three Indiana projects. These were: Indianapolis postoffice, $1,370000; rolling mill for Wisconsin Steel Works, South Chicago, = $2,000,000, and a power plant for the CarnegieIllinois Steel Co., South Chicago, $5,000,000. Total awards made for the week amounted to $60,847,000, compared with $17,913,000 for the corresponding week of last year. Private awards totaled $22,299,000 of the consolidated figure, as against $4,230,000 in the same week of 1935.

PHONE GAIN REPORTED Times Special NEW YORK, July 13.—The General Telephone Corp. has reported for its subsidiaries a gain of 596 company owned stations for June, | compared with an increase of 151 in June, 1935.

MACK ORDERS AT PEAK . Times Special NEW YORK, July 13 —New orders booked in June of Mack Trucks today were to have exSoded those for . month since

Investment Trusts tes og

American Telephone when the Bell System reported a gain in stations in June, whereas a loss ordinarily is in order. Railroad issues mounted on improving earnings reports. Westinghouse was bid up to a new high in the electrical equipments. Jersey stood out in a strong oil group. Consolidated Edison led the utilities to the highest levels in 3 years. Douglas, Du Pont, and Chesapeake & Ohio were leaders in their respective divisions. Bonds turned up with the stock market, notably domestic corporation list. securities were strong spots. Business reports mostly were for the: July 4 week. Smaller than seasonal declines were noted in automobile output, steel production and car loadings. Building snapped back from the holiday dip. The United States Steel Corp: reported its June shipments of finished steel products at 886,085 tons, against 984,097 in May, and 578,108 in June, 1935. General Motors sales for June set a new record for the month and for the six months a new record except for 1929 when the alltime high was set.

DECLARES 10-CENT EXTRA Times Special NEW YORK, July 13 —National Liberty Insurance Co. is to pay the regular Semmi-a nual 10-cent dividend along with an extra of the same amount, Aug. 15 to stock of record AU: 1.

Short of Record in 1930.

Times Special

SAULT STE. MARIE, Mich, July 13.—Freight traffic on the Great

Gas Stone & oy epsier United Co: Un ast 1 Ut Pr & Lt pn Western Union . Rubbers— s Firestone i Goodrich

Lakes is shown continuing on an Gooy

upward swing to predepression levels in the June report of St. Mary's fall canal. A total of 9,835,201 tons of freight was handled last month to set a new high record for five years. Not since 1930, when the

Year U S Rubber .... 29 U 8S Rubber pfd. 74 Miscellaneous— Allis Chalmers . 46% Am 1

an Am Mach & Fdy 33% Anchor Cap Brkiyn Man Tr. an Burroughs Add . ase

locks handled 12,000,000 tons, has Soni June traffic approached the 10,000, un

000-ton mark. Freight carried through the locks last month included: 12,149,631 bushels of wheat; 1,858,425 tons of

dden soft coal; 6697 automobiles; 141,-|In

093 tons of general merchandise; 84,800 tons of petroleum products, and 3440 passengers. . A total of 2297 vessel passages was recorded at the locks compared

4612 ..170Y2 . 82% Natl cash Re. «28% Owen 153% Rem Ran Dotue 38% Yhasrwood BE . orthington P oe bis Am Sugar .... 3

with 2039 in June, 1935. The epi-| Armour demic of record breaking began Bord

shortly after the 1936 season opened and has been continuing until Sunday, July 5, when for the first time in five years, one day's total freight went above 500,000. The total was pII tons and 90 ships were locked through on the same day.

DISTILLERY REPORTS NET Times Special

GENERAL BUSINESS =

-e Yr

Sa as.

= PROGRESS O

SOMGAIT SUSMESS ACTMIEY Woke

12.3 "eh cou sta a, SOMMED wit 26,5 4 Youn Ao :

a8 BuIGVHRLR SS

wh FRE

ogy

Panel 8

Cent Ill Pub

Se CC Edison

Northwest oration ws

4 Sleeteic Housenold Godchaux 3 Ken-Rad T *L Libby 2 Packing Libby

Williams Oil-O-Matic

Zenith

Northern Engineering Schwitzer Cummins

Aluminum Co of America.. d (B

New York Curb

(By Atkins, Hamill & Gates)

Amer Cyanami Amer Gas & Electric Amer General

Amer Superpower % | Ark Natural Gas (A) Atlas Coro

Crocker-Wheele er Bond

and Share

sk Glen Allen (1)

£ ot hs 1 :

gu an Corp of Penn.

St Regis Paper ve Salt Creek Be ducers’ Assn .. legal Lock

Fechnico! ubize CE natition Corp Mueller Brass Sunray

Unlisted Stocks

(Blyth & Co.)

NEW YORE STOCKS

edesonnes ssssssnesnes sede s reas Bt ans

#eceee ..

.Y., close 81%

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

—Receipts, 1200— ( 550-300) Choice ....... Bassas $

8:82383332338

SRR OOS R0

NIB INDR INARI AP INOVIIBO DAI

3833% 3h3Ey 33sssssEessin

Common and medium (750-800) Good Common and med

SABI

82333 23833

s Sa a 838 333 0 e688 on aan

tele oe py :

Bs $8 sis

Sevens Frese sane

creed ted 110 ne 1s

(90-170) Good iaenas