Indianapolis Times, Indianapolis, Marion County, 24 July 1936 — Page 24

PAGE 24

Aliases Used by Rich.

=BY JOHN 2. FLYNN aed |

V YORK, Bs Su 24 ~The Seand Exchange

gle of this subject. But it is important, This is the practice of wealthy men of carrying their’ holdings, not in their own names, but in names of personal hold-

reads tain ha of shares in Corporation X through Personal Holding Co. No. 1 and a certain additional number through Holding Co. No. 2.

course it is not novel to find : men puttisg their property in ‘the names of other people. For years, I suppose, men have put * their property in their wives’ name. This is to put it beyond the reach 10f creditors or tax gatherers or : "merely for the purpose of concealment. I know of a former great _banker of New York who kept his various stock holdings in the names 0f various employes of the bank. Now, however, all this is made easy for men and by the law itself. Because the law has developed that modern abomination, the personal holding company. The uses from the point of view of the man who has a personal holding company are many. Many men have such companies. They thus mask their operations, conceal things from tax authorities, escape creditors and, more important, evade all sorts of laws and conceal operations which they dd not wish ‘to be known.

» 8 a

HUS a bank board chairman in the late twenties had many such companies. But three of them he ,used to speculate in the stocks ‘of the bank and with funds borrowed from the bank. If the eminent Mr. Blank had done this in his own name every one would have known of it. But who could know who Corporation A and Corporation B and Corporation C were and who suspected that they were none other than the great banker himself? In short, the personal holding company can be used as a legal - . y Suppose we proposed a law under which John Smith could go 10 the Secretary of State and geta ,. certificate authorizing him to act “also under the name of James Brown and another permitting him to act also under the name of - Prank Robinson. Issuing of aliases like this would be regarded as ‘shameful. But we do ,the same thing. We permit a mdn to go to the Secretary of State or some other official and have issued to

merely a corporation alias. (Copyright, 1936, NEA Service, Inc.)

* Local Securities

5 _ (By Indianapolis Bond ana‘ Share Corp.) The following quotations do not repactual bids or offerings, but merely

§ cate the approximate market level indies on buyi ny Pana selling inquiries or

recent Sansactions. BONDS

fol Be Shas

EE all he

s ‘61 ip Tel Bt W of ,

COSTS RISE ON CITRUS AUS | IN LAST WEEK

Melons, Tomatoes, Lettuce Reported in. Demand in Midwest.

Times Special WASHINGTON, July 24—Al-

unfavorable showings for the last week, such items as melons, toma-

Agriculture said today in a report on the midwestern area. . Lemons were in great favor during the heat wave, with some lots selling as high as $15 a box at Chicago auctions. Prices in early July were $7 to $7.25 a box.

Indiana Mélons Offered

Midseason supplies of cantaloupes are being drawn from Indiana, Arkansas, southwest Missouri and a few from Tennessee. Truck ship-. ments from these points were liberal | 8 in midwestern markets after the middle of July. In contrast, canta-

decredsed in quantity and included much overripe stock. Fruits in general, except those ar-

peared likely to continue in light supply. Some apple growing regions | B have only one-half to three-fourths | B an average crop. Prices of early

mostly 50c to $1.50 a bushel. Cali fornia Cravensteins reached $2.50 in Kansas City.

Orange Crop Large

Oranges and grapefruits, the prices of which have been increasing steadily through the hot weather, are expected to be in larger supplies than last year as a result of enlarged bearing acreage. Pear supplies should be about as large as usual,

in the Far West. Although below the prices of the best southeastern peaches, but higher than the average Texas receipts, most of the supplies of Arkansas peaches have been of fair quality with the price range at ¢2 to $3 a bushel in Chicago. The crop in the Nashville highland area was placed at 1000 carloads, with considerable quantities to be placed in |R storage for August sales.

Tomato Prices Strong

mand at fairly high prices. Numerous cars of Tennessee tomatoes have been passing through the St. Louis

and East.

came lighter after the middle of July due to shippers retaining supplies because of previous low prices at some leading markets. Underlying position seemed strong except that the jusual price trend is down at this time of year. Few carloads remained in the South and Middle West available for current shipment and California marketings are slowing down.

Potatoes Steady

Sales at Chicago held at $2.40 to $250 a 100 pounds’ for Virginia stock, while $3 to $3.25 was given for Califormia Long Whites.. Illinois Cobblers sold at $1.75 to $2.40 in midwestern centers, while Missouri stock got $1.60 to $1.70. In some eastern markets potatoes moved up 15 to 20 cents. Celery from Michigan remained

about steady in Chicago, but in-

creased considerably at eastern markets. Missouri White Globe onions, al-

ASE. | though coming in small quantities,

were of excellent grade at Chicago markets. Y

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

» 8 Ld BEB mon Ld 3 00 i Se

PORE Iam; 0 PI RERNSERs il

=e hf 8s .

$17 ewer tT Eme

3.2¢ 3

Unlisted Stocks (By Blyth & Co.) NEW YORK ‘STOCKS

Sessa stents

sBsvsscsessees

Bankers Trust . Central Hanover . Chase

Chemical sContinental sievaienssagsanase100% Guaranty

assis ssenbanesrinn.

“sass dy 17

Notional City .e Na nal Shas si sesvesae

Taanate ne Fea Ee sassssssrasesusecies % sevens sERSEReNs Ln sessasBBIess tse. nn GEER Wevdesesssnsassans Seeresessensena. De 8s Sew Sasapssasesaveseye 3 iat o

though most produce lines recorded 3

toes and lettuce were in great de- |Am Roll Mills mand, the United States Bureau of | Byers A

riving from the Pacific coast, ap-|_/

eastern and midwestern apples were E

according to reports of good crops I

Tomatoes have been in good de-|4

gatewdy to markets in the North Ate Carlot shipments of potatoes be-|B & O

VALLE ALL "GRAINS LOWER:

Otts— Atl

JES sane ssav eon

ian

nik Cont -of Del.. Houston (nev)..

Mid Cont Pet... BE. caisaswe 13% o- 14%

BoHY E

3h.Sgsengusuzaiey

ros Yngstwn 8 & Motors—

Cee

258 Fa

Joupes received from the Southwest | Nash

Studebaker .... 113% Yellow Truck .. 20%

Motdr Ac

ec . Greyhound th Houdaille a Murray. SEE ves : 91 imken 11 66% Timken Det Axie 18%

Mining— Alaska dais he

Anaconda Cal & Hecla .... Cerro De Pasco . Dome. Mines .... 54 Gt r Ore .... 18% Homedtake Min" .420

Kennecott Cop.. McIntyre Mine.. Park Utah Phelps Dodge .. 3t Joe Lead .... U 8 Smelters .. Vanadium 21% Amusementis— roe Radio. .. Loews Inc Radio Corp ..,. Paramount

32% 21

Wheat Futures Off 134 to - 2 Cents Under. Light Pressure.

By United Press CHICAGO, July 24.—Wheat fu-

tures declined today on the Chicago

Board of Trade under light pressure prompted by ‘the weakness showh at Winnipeg and other North American markets.

2 cents. Corn was off 1% to 2% cents, and oats were off 3% to % cent.

and cooler temperatures in sections ®f the spring wheat territory,

erate decline in all wheat futures in

dia quiet market. Hedge selling and

small profit-taking were features in the’down turn. There was some

houses and locals. J Shorts Cover Shorts were inclined to cover on

cipitation was reported in wheat territory and most traders chose to await further development before entering into new commit- | AT ments. Operators * ignored -the strength shown at Liverpool where the October future reached & new seasonal high in early trade. Corn prices eased under scat-

sponse to bearish weather news from the dry corn territory. Senti-| 3850 ment was mixed and some traders| 300

. | believed that current prices, disble but | $8

sence of general and adequate | Sriand moisture. Oats eased in sympathy with | to

terest was- light. n= dependently

throughout the period.

‘Woolworth

At the end wheat was off 13% tol

Forecast for unsettled weather a

formed the background for a mod- | S¢

Adams the reactions. No important pre- |Zue the | ch American and Canadian ' spring Tr

tered selling of all futures in e- |.

oeher grains {0 a quict market In- | Senteb

Rye firmed in the early part of he session 359 held 5 Sim vome

i || NEW BUSINESS BOOKS 3 2|| AVAILABLE AT LIBRARY | ;

Gen R ® Sig. wee 3 West 21 Air . as ae : Westingh Elec ..138% tllitiggem Am & Fo 8 Am Power Wi Lit 14 AT > T 111% Am Wat Wks... 25% Col Gas & Elec. . ag Comm '& vee

% Gonsol Gas

41 Elec Pwr & Lit:. 18% int Hydro Hoc: Interboro R T Int T . Lou G &

td Gas Stone & Webster. 19% nited Corp .... 8% Un Gas Imp Ut Pwr & Tt “A” 5% ‘estern Union.. 89% Rubbers—

Firestone Goodrich

Goodyear U 8S Rubber 30% U S Rubber pfd. 75% Miscellaneous— Allis Chalmers.. 48 Am Can 135

Am Mach & Fdy 23% Anchor Cap 19% - Brklyn Man Tr. 49% Biaroaght Add. 29 I Case Contl Can 8Y%a Saterpillar Tract’ Bie Crown Cork' . wy 59% Deere -& Co . 5% Eastman Kodak 175 Foster Wheeler. 0%

idden ie ! 15 Int Bus Mach. 164%; Ha.

Inter

1 Rem Ran Lhderwood e

Worth oth pm Am. Sugar

Armour S% pid. a3 Beat am ... 24 Bosden |

Hersh . 8 | Natl Biscuit . seve

Fail D. Prod

vy 14 § Fofto Ti Rico Sug

Retail fran 3 Allied Stores .... 1

Aviation—

Aviation Corp Boeing BALCH Curtiss Wrig bl Doug! as Aur » Nor And

ite Corp New Poe 26% Chemicals— Air Reduction. 79% Alied Chem.. ..211%; Am Com Alcohol 21% Col Carbon .... Com Solvents .. 15%

Tex Sub. Union Garb U 8 Indus Alco Drugs—" Seiatol Myers .. Inc

40 fi

8 | selling by scattered commission Lambe

ans Tr Contl Corp.. Building— Am Radiator fol ad” Paras oe t 52%

Johns: Mauvilie 112. 113 112 Linky Owens is is 81% 61%

Other J ‘Livestock Fle’ ad fealty Se BE HA jl he 8

80; 2250.55: 1bs. Tos Ja Yio ido. Ih eth be 0 uh be a $7; calves,

RETR _naceint SEE te : (0a Sel above ve.

2 1% 40

i Be me mu Bi

| kinds scaling fiom brought $10.15 to $10.35

82 | tedium weights:

Lightweights Steady; ~ Veals Soar.

Al types of hogs except the bstantially

EE i aay ean

The full-force of the from 30 30. 35 cents.

ket. into line with

7% | and was probably influenced by al,

pickup in receipts. Shipments were estimated at 6000, er 416 held over from yesterday.

+ Top Dips to $11.10

pounds brought $10.80 to $11.10, the

% | latter quotation being the day’s top.

In the two previous sessions, the

280 to 300 There was, practically no demand Tor heavier Ein , but. those on hand weighing 0) to 400 pounds were dis-

2 re mote Sor |

$9.25 to $9.75, a loss of 30 to 35 cents from yesterday's level. Lighter kinds were steady with $10 to $10.50 being paid for: those

between 130 and 160 pounds while

100 to 130 pounders: brought $9.25 to ;$10. Packing sows were salable at $8.25 to $9.25. A few sales were for $9.50. ‘Cattle Prices Steady

The run of cattle was again low with about 400 on hand and calves receipts judged to be 500. Prices were steady on all good Killing | classes in a cleanup trade. A few yearling steers sold up to

$8.70. Odd head heifers: brought $8

down. Beef cows moved at $4.25 to $5 and cutter grades brought $3.25 "to $4. Sausage bulls sold at $5.50 to $5.75. Few vealers were offered and ‘a

4 | heavy demand developed with the

result that prices soared from: 50 cents to $1 higher. ‘Most choice veals were disposed of between $8 and $9. A few selects brought $9.50.

bulk of choice, fat kinds selling Tor | B) $10.50 to $11. The extreme top was

1000.

r—

Wn D. Recaps. 11. 0 11.00 1% 11.10 Light lights: {iagiLco Good and choice. -$10.35

Lightweights: (160-180) Good and choice.. [email protected]

[email protected] (180-200) Good ‘and chejce.. Medium

10.

(200-220) Good and choice. . 4 (220-250) Good and choice: « 10. Heavyweights: 350-200: Good and choice. . 350) Good and choice.. Wiis Sows: (315-250) Good {339-43 450) Good . (275-550) Medium evans se & Slaughter pigs: 100-140)\Giood and choice.. [email protected] Medium ] ~~ [email protected]

sues

Medhum . foo 130) Choice sasssecesdes Good

vesewar an ssessvscnnvss

NNDANAR IDNR 10 aansiineiig

2 ’ 8 030300 09.0300 00 CH=100 OOD 100 00

Good Common and medium ... Low cutter and cutter. we

mama esd been tn

3828

» 83 S98ep

(500-800) ‘Good and choice. . "Common and medium ......

AND ; ~Receipts, 1000— ' . Jabs, - 11.

Drop From 30 to 35 Cents; 3

stockyards. %s, decline was felt by the heavy kinds | 33 toppled

$11.25. Sheep were steady, most God y | sales of fat ewes being for $2.50 to | $3 with a $3.29 top. Receipts were

x o Auman co of America.......1

oe Sel

Common nd meas um LAMBS |

a%s, 1947-52 ....ccca.0. 117.26 3 - 1 sedmasvesivunenns 110.18 111

«87 coivensvrcncanans

1 1014

10712 101.12

3S, 1068 .......c.echicines 1949 ...... esssasassensiane .103.5 — asisesessainrine ..103.2¢ 103.25

ON NEW YORK STOCK ErcHANGE {oow-JONES & €0)

CORR GENERAL Di INCORPORATED INVESTORS |

The recent action of the Federal Reserve Board in raising the reserve requirements is considered by many to be favorable to the bond market. This is a natural conclusion because the force of the requirement will be to restrict inflation. This opinion is borne out by the larger sales of bonds since the announcement. Bond sales in recent months did not keep pace with sales a year ago.

Chicago Stocks

(By Atkins, Hamill & Gates) Prev.

Asbestos Mf; Associated

3 Berghoff

Bruce Butler Brother: Cent 111 Pub Service pfd Chicagh Yellow Cab Cities Servic a Commonwealth Edison . sis Steel

Lambs were around steady, the oe

« 36 esses’ 184

sseces

orthern Tl. 7 pf Internat onal ves

Williams Oil-O-Mat; Vortex Cup oh

35% 19%

New Y York Curb

“(By Atkins, Hamill & Gates)

3 1

see

en Northwest Engraving Schwitzer-Cummins

sesssecnsse

- Prev. Close . 135 i 8 3% | Ne

Am Cynamid ‘B’ .......... “oe Am Gas & Electric as : Am General .

19 : 134 ub

Niagara Hudson P 15 Pan-American Airways avaesen es - 67

Sega ‘Standard Oil of Ohio. . Sterchi Brothers Stores

2 Toehnics 264 7 33% u%

ASSET VALUE ADVANCES Times Special BOSTON, July 24—TIn its fortyeighth quarterly report to the near36. shareholders

24%

ET i

sassiessves

! WD riiene. 93 92% Fran Pow 80 300. eiveaase 70 = 9 1 43. eee. A140 124% cessenens-1ll%ae 112%

- ceeceie 9% TY ‘64...... 85% 85% '48......111% 111 i 45. ii 3%

iavasesnnsn 1%

2 of 2000. = ’ ry 107 MT snares. 108% 3

sssesnans

Prev.

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“Bs iavtasstrrs dsl

"0 '63

ve » 38 Sesscassssese tests ecencsssses

108% 1061 Lui a0 ME ol

hi | 95 (oid) 22S 84 ie

ssense

esses

T 4s 61... 99% 993 ET dha’hiialens al FOREIGN

A 65 '57 .evcess...100

100% os 100%

101

oe ssesssssens’s

New Bond ST

(By Lyons & Co.) ‘

> & Chica Un 8 St 3%s '63

est. ae eves Cin’ Un erm 3 3 Cleve Elec Tus 3%s ’65 eve Tractor By . Columbus Railways 4s ’65 +10 Com Invest Trust. 3158 '51.... Con River Pr & Lt 3%s was Con d

Con Cud Cuda

102 104% 92 107%

1 lum 65 Iowa South Utilities Bh Mh 100%

ones Ss La “100 18h gees alae iy ‘ 0812 107

){ [1 Los Angeles SN & Nash i oF 97 tro 08

McCrory Stores 58 Is as. 5 fas

103% 105

103 Da

: i

% in

dee 110 esosee 104% | 96!

. 107 ec 3% 66... 103% 104

1037 191

{TWO ISSUES ARE LISTED

Crown Cork, Wheeling and Lake Erie Issues on Board. Times Special

hens, 9c; colored springers, 1 i ed springe £3

109%.

og 101% 10814 ze

IRREGULAR GAIN REGISTERED BY STOCK MARKET

Financial District Reported . Well Pleased With ” Landon Speech.

! BY ELMER C. WALZER United Press Financial Editor NEW YORK, July 24—The stock

{s | market today absorbed a large

amount of profit-taking launched on anticipation of strength after the Landon speech and then made an irregular advance in slightly ine creased turnover. There was no Landon demonstra= tion of the variety that had been predicted, although a large number of persons in the financial district

4 | received the speech favorably. It

was said to fit in perfectly with the Wall Street views and hence Tavorable for the market. Prices Fluctuate The market opened firm on fair activity. Then it declined as trade ers sold the motor shares. Later a recovery brought prices of most issues to small net gains. In the afternoon the list fluctuated nare rowly and in the late dealings mos$ sectiong were again moving forward. The railroad average made a new. high since 1933 despite a decline

Zin car loadings for the week ended % | last Saturday. Atchison was up a

point while new highs were noted in Southern Pacific and in Kansas City Southern preferred. Union Pa-

% cific gained a point and then eased

from the high. New York Central was up fractionally. Farm Shares Strong Farm shares were strong. Case reached 168, up 5 points. Interna tional Harvester was bid up to

i, | around 85 on action by directors to

raise the 1935 dividend payments to $2.50 a share. The company declared 30-cent dividends in the last three quarters. Today it declared a quarterly dividend of 62% cents plus an additional 97% cents. Steels were fractionally higher as

99% | were electrical equipments. Cop-

pers, and most of the aviations, Douglas soared more than 4 points to above 72. Utilities met considerable realizing, but they came back near the close and Columbia Gas*

% equaled its high for the year.

i loIL

INDUSTRY STABLE

Secretary Ickes Says Increased Demand Absorbs Output. By United Press WASHINGTON, July 24.—Secre= tary of Interior Harold L. Ickes said today that the petroleum industry is

08%; in a stable condition despite record

crude oil production in May. He explained that, while producers sef; a new high that month, total stocks decreased 5,000,000 barrels and general demand increased 10 per cent

{ | since that time.

Produce Markets

The prices quoted are paid for stock gathered in the country, while delivered n Indianapolis the price is a cent higher. - Heavy breed hens, lic; Laghors breed wg thered, 17¢ orn springers, 1%; lbs, and over 120: Fiogn ducks, wh 4% lbs. and over, 5c; geese. ° fall font ered, all sizes, 4c; all gu guineas, 15 lbs. and up, 15c; old cocks, 8c; No. strictly fresh eggs, loss off, 14c. Each ul case mst weigh 55 lbs. gross, a deduction of 10 cents a ound Indes 85

lbs. will be made. No. 3%a3 8l2cs "No. 2, 34%2@35%c, Butterfat, 340 | (By United Press)

CHICAGO, July 24.— s—Market firm; receipts, 9896 ya ny raded firsts,

curr 19%c; gdirdes, c: extra firsts, Stine.

17 checks, 1 utter-—Market Steady; is “13, 616 tubs. extra Ly score), 33%c; Sx firsts (90-91% 33@33Y, ac; fit firsts,

31@32c; specials 34% ¢ o 33c.

color s. and over,

feat

as 1 s 2@ urkeys, iSGisc: broilers, 15% @16¢c horn ‘hens, 12 3 old roosters, Ti@idce;

@l4c fryers, 20@21% eese—T wins, 18%, 18%c: daisies, 19@ 19%c; longhorn, a Potatoes moderate; uri Cob!

demand slow, market, a Sone blers, 8 Cobblers 2.20; Colorado bblers, 12: G2 California White Tdaho umphs,

Blss 5 se. 53 Sar Tri

PUT YOUR MONEY T0 Work K1008LLY}

Building & Loan Shares

Astizza National Ban Bank

AT INDIANAPOLIS

| Member Federal Deposit Insurance Corporation > 3 3 : > .

vertisement J or asa

finiot, and itation’ of

‘wie a for

under offer to buy any such Bonds.

no circumstances to be construed as, an ds. The offerin;

Ht er § is made only by Prospectus. |