Indianapolis Times, Indianapolis, Marion County, 28 July 1936 — Page 9
: Service Gets Presidential | Setback.
Y JOHN T. FLYNN
y YORK, July 28.—He who not a politician is comto lean back in wonder at elasticity of the political mind.
removal of the Postoffice = Department from politics has been one of the persistent demands of good citizens of all parties for many years. When Mr. - Roosevelt took office many supposed he would do that. He had made $0 many declarations in favor of the civil service system that it seemed - he could hardnything else. pad, however, the same old’ s system was carried forward. drow Wilson had put these nasters under a pseudo-civil ce rule. He ordered competiii Wig held and the . ointment given to the highest, E # x =» ~~ [EN Harding came in he cs[tablished the one-in- three That is, the appointment io be given to one of the highthree. One would always be a publican, Thal practically wiped Wilson's rule. Coolidge and over held to the Harding ruling. When Roosevelt assumed power ‘made a great flourish, ordering these. first, second and third SS ~ postmasters should be put 2 er examination. But Mr. Far- , with the President’s approval, ‘the rule that no incumbent Fe Federal service could take k examination. This automaticy prevented any postmaster from ‘éeeding himself and also preted d othérs from rising. . all these first, second and : lass. postmasterships have filled by the spoils system. ut 13,500 of the faithful have n provided with jobs. - Now the isident comes forward with an-. er neat little device, which on face looks like a fine spreading he civil service system, but is, fact, a plan which keeps the S| sent spoils incumbents in their
or
is nn
mE is what. the President-pro- . claims. When the term of of these political appointees , he. will not have to enter tO mpetitive examination. The tmaster General may recom3d him for appointment. Therein he will take a non-competi-. examination and will get the n other words, ’S- appointees were not even itted to enter a competitive 1ztion, ' Mr. Roosevelt's ap“will hold their jobs
; by taking an examination vhich there: will be no other |
vacancies IF the Postmaster al requests it. his is not the way to spread ‘service. This is a dodge as old t service itself. Presidents je int® power, put their political into office, then surround m with the civil service. The ‘President takes the fake civil protection from them and the operations with his own:
Copyright. 1936, NEA. Service, Inc.)
- . mmission Row : stations below," subject to change, | ers by ‘loca wholesale prices being offered local commission dealers). berries, Mich., “black, 24- . red, 24-pt. ‘crate, $2.50. pt. crate, $3.50. Dew- » 18.pt. crate, $2.50. Cherries, ; saat ‘crate, $2. Bananas—SelectApples—Transparents, $1.75; rginia Winesaps, 2'%2 in, $2. Cantaloups— ) $1. Water-
S. Ys in, bu., $2.85. Api, $1.65. Plums—Blue, ; Yellow, $1.50@1. 85. 5- te, $3.25.
Beans—Round stringless $2.25. Beets—Hame- town, doz., doz Baa c. Bi auliay crate, elery— and trimmed doz) 60c. 0Z., a S58 pl 1.50. Kale—HomeRts, Cali- : leaf, home-grown, 15-1b. ngoes, Louisik het. 60c; Onions—CaliParsiey— , Peas—Western Tr), Lo Potatoes Cantomi= | T ites ne -1b. es Ne on * Fiiumphs,
bu., white (2 doz. bas-
Peaches— |.
FRUITS AND VEGETABLES (By ‘United Press) 28. — Apples—Yellow Pp S0c@ $1.25,
ma. bu. [email protected]. “bunches, 2@2%e. Gab- - 75-1b. crates. $2@3. Si : 33asos Tomatoes Peas—Wash
stock Dry, while delivered
8 quoted are paid ‘for ] 2 is a cent Bigher,
3.4, and Idaho, 3.3.
six of the preceding 17 years.
‘were enlarged during June
AD LINEAGE
while Mr. _
| Expenses $ 330,346,753.06
oa | | RAILWAY EXC}
~ PAGE 8
INDIANA RANKS FIFTH IN JUNE JOB EXPANSION
Employment Gains in U. S. Fourth Consecutive Month.
Only four states reported greater employment gains in June than did Indiana, the Department of Labor disclosed today after concluding its monthly survey. While the nation as a whole showed June employment 0.4 per cent above the May figure, the
change during the month in this state amounted to 3.1 per cent. The states to report greater job expansions, and their percentage of change during June, were: Delaware, 3.5 per cent; Washington,. 3.5; Oregon,
State Gain Explained
The comparatively large increase made in this state, coming at a season when employment in industry customarily drops, has been explained by Martin Carpenter, Indiana State Employment Service director, as due largely to the settlement of a strike in BloomingtonBedford stone quarries and a pickup in radio factories, especially those in Marion. June was the fourth consecutive month in which gains in employment have been shown in the combined manufacturing and non-man-ufacturing industries, according to the government survey. ~
Contrary to Season
“Factory employment showed a contraseasonal gain from May to June,” the report said. “This continued the expansion which has been shown each month since January, but gains in factory employment ia June have been reported in only The increase indicated the returd off more than 27,000 workers to jobs in this classification.” The amount by which pay rolls was greater in eight states than was the case in Indiana. These states and their percentage change were: Idaho, 7.7 per cent; South Dakota, 7; Delaware, 3.4; Washington, 2.3; ah, 2.7; New Mexico, 2.7; North Dakota, 2.7; Nevada, 2.4; Indiana, 2.3; Minnesota, 2.3. The most pronounced gains in employment, were reported in ihdustries of a seasonal character such | as canning and preserving, radio, | beet sugar and ice cream. |
INCREASES
Volume Exceeds 1935 Figures for 21 Consecutive Weeks. Times Special CHICAGO, July 28. — For the twenty-first consecutive week the volume of newspaper advertising placed by the merchants of 66 major cities exceeded that placed in ‘the same cities during the correspond- |x ing week of 1935, it was revealed today by Advertising Age. The figures showed that retail advertising volume for the week ended July 18 totaled 13,555,890 lines, compared with 12,484,699 lines during the corresponding week of last year, an increase of 8.6 per cent.
Local Securities
«By Indianapolis Bond and Share Corp.) The toliowing quotations: do: not represent actual bids or offerings, but merety indicate the “approximate market evel based on buying ‘and seiling inquiries or recent transactions. “BONDS
Citz Ind xd (T Hy) 448 ‘61 . Te | Tel Rt W was '95 H Tel & Tel Ft W 6s '43 Indpls Rail Inc 5s ‘67 pls Water Co 4'gs ‘40 .... pls Water Co 5s '60 Is Water Co 5s ‘70 10514 pls Water Co 5%s !53 ....102% Indpls Water Co 5's ’54 interstate Tel & Tel Sas ‘53. 97% Kokomo Water Works 5s o38. 10 Morris 5 & 10_Stores §s ’'50 . Muncie Water Works 5s 38. Novlesyilie HL&PE6
Richmond W W 5s ymour Water Co 5s '49 3 H Trac & L 5s ‘44 10 1. H Water Works 5s 56... T H Water orks, 6s '89 .... Trac Terminal Co 68 57 ... 75 Indpls Water Co 3%s '66 .... STOCKS
A B C Brewing Co com Dea Rail 3 I com
Cent Ind F Home T & Hook Drugs Inc c¢ Ind & Mich Elec Co pid Ts ... Ind Gen 0 6s nd Hydro rec. Co iy Chveeien 64
Bid. .101 103 103 NH 10442 105%a
n nap n
om 29 & Lit Co oid 6s . Is ip pid 3s 02% North Ind Pu Serv pid 51 Ls 18% North Ind Pub Serv pfd Ts . 7 Serv of Ind 6s . fi» Pub Sek of Ind pfd Ts H Elec Co 6 Union Title Co com Money and Exchange INDIANAPOLIS STATEMENT
Co pfd 6%s 98 Ind North Ind Pub Serv Co pid 7s 56 Joutn Io 4-Sat > Blec pra 5% 102 *Ex-dividend. Clearings Debits
6,103,000
TREASURY STATEMENT (By United | Press)
WASHINGTON, July 28.—Government expenses and receipts for the current fiscal year ending July 25, | compared with a a
year ‘This Year. Last Year. $ 657,807.788.6
2%. 44 1588 81 234,972, iB. 3% Deficit 422835.210.48 CG
ash bal. 2.313.343, i 1,937.900,329.78 Pub. debt. 34.,474,158,093.73 29,220,575.065.03 Gold Tes. 16,639.29.589.95 0.135.570.883.13 toms . ~~ 25.842,505.3¢ 23,190.485.18
CHICAGO GRAIN FUTURES (By James E. Bennet & Co.) ‘11:00 Prev. High Low A.M. Close
105% 1.05% 1.04% 10512 1.06 1.04% 105% 1.05% 1.08%
Receipts. .
Wheat—
93% ‘90% 83%
93% 90 90% 83% 83% 36% 38%
b.76% 24 bT3%
Ci! in elevators are pay 95 cents tor Bo: Ed corn ole Ek 3° now, ve 85 cents and oats, 25 cents.
OFFICE SPACE SA Rll rca NGE BLDG.
{ Murray Body ...
TUESDAY, JULY 28, 1936
New- York Stock Exchange Prices
(By Thomson & McKinnon)
Texas Corp . Tidewater Assn. . Un Oil of Cal..
Steels— Acme Steel Am Roll Mills. Beth Steel Byers A
Inland Steel .... Ludlum Steel ..
8 Natl £
Ste "68 U 8 Steel ‘pid. 11323 Warren Bros 82 War Pipe & Fdy 28'-2 Youngstn 8 & T. 73
~~ Motors— 'l Auburn
72 1213, 23% 17 2% 3512 16%3 111, 47s 12%, 207%,
/8 Gen Motors fd 121% Graham Mot .. Sa Hudson
Hup Mac Nash
Stodebaker Yellow Truck
Motor Access—
PEendi® Bohn Alum Borg Warner ...
29% 4755 7934 5512 13% 103, 357s 403, 452 611%, 2TY, 19%g 20
Mfg Elec Auto Lite. . Elec Stor Bat ... Greyhound ‘B’.. Houdaille
Stew Warner ... Timken Roll 6 Timken Det Axle Va
Mining— Alaska Jun Am Metals . Am Smelt ..... Anaconda ...... Cal & Hecla .. Cerro De Pasco. Dome Mines .... 54 Gt Nor Ore .... Howe Sound .... Ins Copper Int Nickel Kennecott Cop.. McIntyre Mine .. Park Utah Phelps Dodge. ... St Joe Lead.... U S Smelters.... Vanadium
Amusements— Crosley Radio .. Fox Theat Loews Inc .. Radio Corp . Paramount RKO ... Warner Bros...
Tobaccos—
Am Sum Tob Am Tobacco CAM 891s /Am Tobacco B .101 Gen Cigars . 57Va Ligg & Myers B 109 | Lorillard .... .. 243, Phillip Morris .. 88% Reynolds Toh B. 5575 Rails—
Atchison 8534 3333 2134 13 6734
B & Can Pacific Ch & Ohio ... Chi & G¢W pfd CM&S{P.. . 3a 3% ... 3 Lo 4TY% . 20Vs 15,
257% Gt Northern pfd. 111 Lira 0
ou Tenigh Valley... Lou “& Nash ...- MK &T i Moo K & 7 ‘pid.
Union Pac Wabash .. West Maryland. . Equipments— Am Brake Shoe . 50 Am Car & Fdy.. 393% Am Loco . Lu 2812 Am Steel Fdy... 35%: Bald Loco 34
gen Am Tahk C 2 ”
Elec Ce Gen R R Sig ... 3h Pullman Inc ... 51 % West Air Br 427% 42% 421, Westingh Elec ..141% 139% 140 14198
New Bond Issues
(By Lyons & Co.) Ark La Gas 5s "51
B & O 4%2s '33 Brooklyn Edison Sas '66 Cal Ore Pwr 4s’ Central Maine i %60 Central Ill 314s '66 Chi West In 43s '62 Cleve Tractor 5s ’45.. Columbus Railway 4s '65 Com Invest Trust 32s '51 . Conn River Pr & Lt 3%s 61. Consolidated ©il 3'%s ’51 Cudahy Pkg 33s ’'55 Cudahy Pkg 4s ’50 . Eastern Gas Elec Ws 4s ’58.. Edison Illum 3Y%s °’ Indpls Water 3l%s “ee . Iowa South Utilities 5%s '60 . Jones & Laughlin 2% '61 Kansas P L, 4s 6 Los Angeles G & 5» 4s 70 Louisville & Nash Bh 3000. . McCrory Stores 5s ’S Metro Ed 4s ’65 Minn Gas & E Dis 4s *50 Monon W Dr 4%s '60 . ._ Narragansett Elec 31s '66 New York Ed 3%s ’66 Okla Natur Gas 4's ’61 Okla Nat Gas Conv 5s '46. Pac Lit 4's '45 Pac G & El 33s '61 . Peo Gas Lite & Coke 4s ’61. Penn Tel 4s ’65 ... 106 Potomac Elec Pwr 3!5s '66 ... Pub Serv N H 334s '60 .. .. 106 Railway Lite 4%4s °55 .... Sagunay Pwr 412s ’66 ... Santiago G & B 4s '65 So Cal Gas 4s ’65.. So Pac 33s ’46 .
West Penn Sian '66 Wis Gas & Ble, 3s '66 Wis Pwr & Lt 4s 'A6 Wis Pub Serv. o '81
Unlisted Stocks
(By Blyth & Co.) NEW YORK STOCKS
Bankers Trust Central Hanover Sha Be Continental’ Gu usr nty .... ving Mapu a a
First ational 3a National Shawmut
Aetna Fire Ins Am Hican Tne of Newark America
Utilities—
Am & For Pwr..
High Low 1%
Am Power & Lit 14% AT&T 172
Int lou G & E °*
Int Bro, Elec.
Stone & Webster
United Corp..
Un Gas Imp ..
Ut Pwr & L * West Union
Rubbers—
Firestone Goodrich
A" 91
uU S_Rubber ‘ptd. 15% Miscellaneous—
Allis Chalmers...
Am Can ...
50's
352
Am Mach & Pdy. 24
Brklyn Man Tr. Burroughs: Add .
JI Contl Can .
Case
51% 29 171
i. 18 .| Caterpillar Tract 76 \ 1%
Crown Cork ....
Curtis Pub Deere & Co
Eastman Kodak 173 Ey
9% T131e
Noon N. Y.
/2 173%
Prev. Close
SY 90%
29 21%; 24Ys 30% 75
48%, 135, 24 51% 28%2 1704
752 61% 19 TT% 174%
AS Y. Bonds
DAILY BOND INDEX (1926 average equals 100)
2 5% | (Reprinted From Late Times Yesterday)
(Copyright, 1936, by Standard Statistics)
U.
S. GOVERNMENT BONDS
(By Abbott, Proctor & Paine.)
Issue
Allez Corp 5s Alleg Corp bs
Treasurys
Owners Loan
Corp.
. 101.17
Alleg Corp 5s '50
Am Frgn Pow Am Tel & Tel Am Tel & Tel
Arm & Co (Del)
al Coast Line Atl Coast Line Atch Top & S
4s '52 4458 "64
Am Rolling Mills 4Ys ’45..
Balt
& Ohio 5s 2000
42s '60 & Pitt alas '31
Beth Steel 4 Us
Chi Milw & St Po 5
3 & So
4%s '80 ..
hi & Nor West 3% 5: 49.
Container Corp 8s 4,
Con Gas aS Chiesa Corp 5s
N Y Docks 5s Erie 5s '75 Erie 5s '67
Grt Northern Grt Northern
51 *47
'38
“H"” 45 '46. 4los 77.
Gen Stl Cast WW 5's ’49 Hud & Mahhal Ref 55 '57
Ill Cent 4%s ’6 Ill Cent Jt 4! i Ill Cent 5s ’63 Interboro Rapi Interntl Hy Interntl Tel &
y '63 id Trans 5s '66.
lec 69 '44.
Tel 4's '39
Fe 42s 48. ..111 Am Wat Wks 6s ’'75
93 Interntl Tel & Tel 5s ’55 .... 79
Internt]l Tel & Lehigh Valley McKees & Rob
Tel 4Y2s 52. i 2003 52s '50
Mo Kan Tex Adj 5s '67
Natl Dairy 33;
8s '51
Natl Steel 4s '65 .
Nickel Plate 4 Nickel Plate § N Y Cent 5s N Y Cent 4'%s
28 "M3 . Ts 4...
01 2013 (ald) ‘44
N.Y Cent Conv 6s
5s Portland Gen Para Publix
El 412s
6s ’55
Penn P & L 4s ’81
Postal Tel &
Vestern Mary Vestern Unio oungstown a Youngstown’ S
Australia 458 B 1 8s
las 77 ps '60
T 4s "61 & T 3%s '51 .
REA Eastman Kodak 1743,
Foster Gillette Glidden
Wheeler. 30% 1
Ingersoll ‘Rand’ 158
Int Buy,
Inter arv
Natl Cash Reg. Owens_ Bottle Rem Rand .
Underwood
E’ Worthington P..
Foods—
Am Sugar Armour
Mach
. 165 . 86%, 26% -138 20 . B4Y. 303%
sie pnd tain a v e Coca
Cont Bak (A) .. n Prod . ..
-112% 13%
«Allied Stores
(500-800) Good and choice oe
Noon High. Low. N. Y.
30% 143;
. Ba, Worthingtn Pmp 29
Foods—
United Fruit - Ward Bak ‘B' .. Wrigley .
Retail Stores— 13% Assd Dry Goods 19% First Natl Stores 45% Gimbel Bros .... 1473 Kresge S 8 .... 25% Kroger. Groc 21% Macy R H
Aviation—
Aviation Corp .. Boeing Aireft .. Curtiss Wright . Curtiss Wr “A: Douglas Air .... Nor Am Av Sperry Corp ... 207a Uni Aircft New: 23Y5
Chemicals—
Air Reduction .. 19% Allied Chem .. 22 Am Com Alcohol 290 BE gSotvents Ye
Freeport Tex ...
182 9a 218 217, 22% 22 14% 67 27% 382 33 26% 9 35% 96 33%
Tex Gulf Suloh. Union Carbide . ¢ U8 Ind Alcohol. 3
Drugs— Coty Inc Lambert 1 Un Drug (new) . Zonite Prod ....
Financial— Adams Exp Alleghenv Corp... Am Int Corp .... Chesa Corp .... 83 Lehman Corp ... Transamerica ... Tr Contl Corp...
Building—
Am Radiator.. Gen Asphalt .... Holland Furnace fo Int Cement Johns Manville ious Libby Owens Gls fave Otis E 27% Ulen ons
Household—
Col Pal Peet Congoleum Kelvinator ... Mohawk Carnet. Proc & Gamble Servel Inc Ce Simmons Bed ... | Textiles—
Amer Woolen Belding Hem ... Celanese Corp .. Collins Aikman. . Indus Rayon ... Kayser Julius ...
51, 18Y, 143; Ya
13% 4Y, 11% 83 107% 13% 97%
237s 237
8's
28Y2
2 26 26
Local Livestock HOGS
Bulk. $10.70@ 11.00
11. 00@11¢ 0 Light lights: | vt 160 Good and [email protected] : M ) [email protected]
Lighowetahte: §}60.180) Good and choice. .
150.900) Good and choice. .
Medium weights: (200-220) Good and choice.. (220-250) Good and choice . Heavyweights: (250-290) Good and choice '. (290-350) Good and choice. . Packing Sows: (275-350) Good (350-425) (425-450) Good (275-550) Medium Slaughter pigs: 1388-140 -140) Good and choice . M
11.10 10.80
11.30 11.25
[email protected] [email protected]
CATT —Receipts, ”2900—
(550-900) Choice Gogd
DIDI DIDS
ABB IWIN 130 Sn3332383uno0 BODO RI BOR IMD -538823888383u858
SSPE SR®
1550-150) Choice Sood
QOoOw
mon and medium .. (7 50.500, Good and choice Common and medium
«300-3 0000
an m300 838388 000 Soon 38
SOL
cod Common and medium Low cutter and cutter
pana 85853
honed on ONIN ann
ulls, g meet entnimrkiye be Cutter, com. and med. bulk .. * Vealers —Receipts, 1000— Good 2nd choice
Med Cersreseranes ot and ‘common
Fy) oe S00 88
(250-500) Good and choice.. Common and medium
Feeder and Stocker Cattle
23 gaz
eo
Common and mediu (800-1080) Good and “choice “e Common and med
fan 0090 69 60d 2am am S388
83 38k
wa 09
oo» 88
Good Common and medium
SHEEP ANI) LAMBS —Receipts, 2000— Lambs, choice
6.25@ 8.50 4.75@ 6.25 30-190) Good and choice .. 2.25@ 3.25
mmon and me gi 2.25, Seteerrve July 1, lambs classified
as (Sheep and lamb join on shipper
-basis.)
Rush Jobs Make Us Smile
Hendren Printing
Company, Inc. 430 CENTURY BLDG. RI-8533
| $10.30; roughs. 88. 23;
.D
SOUTH FT. WAYNE EVANSVILLE
{| Lndianapolis
BEND
.
Thomson & McKinnon NEW YORK CHICAGO BOSTON
New York Stock Exchange. £ New York Curb Exchange. - New Yo New York Coffee snd Sugar Exchange. New Orleans Cotton Exchange. Chicago Stock Exchange. Chicago Board of Trade Winnipeg Grain Exchange
Ang othe Jesding Bzchanges.
Cotton Bachange.
SWINE VALUES RISE TO EQUAL TOP FOR 1936
Demand for Fresh Meat in East Sends Local Prices Up.
Hog prices rose sharply today at the Indianapolis Union Stockyards and the top price of $11.30 equalled the year’s best previous high established Feb. 18. The jump in price was attributed by traders to a good volume of huying orders from the East where the weather has been cool and the fresh meat market improved considerably over last week. Another factor was a slight slump in arrivals at the local market this week. For the first two days, receipts were about 5500 less than for the same days last
| week.
Porkers scaling from 160 to 300 pounds advanced 20 cents a -hundredweight over yesterday’s values. Underweights were mostly 40 cents higher. Even weights above 300 pounds, for which demand has been weak, sold unevenly higher but on a catch sale basis. Packing sows were strong to 25 cents higher.
Top Hits $11.30
Demand again centered on the 160 to 250 pound kinds with prices up to $11 to $11.30. The 250 to 280 pound swine moved at $10.55 to $11; 280-300 pounders sold at $10.35 to $10.55, and the extreme heavyweights brought $9.25 to $10.35. Lighter weights, pigs scaling 130 to 160, sold at $10.15 to $11.25, and the 100 to 130 pound group brought $9.40 to $10.15. Packing sows were salable at $8.25 to $9.25 with a few selling for $9.50. Swine receipts were estimated at 5000 with 296 held over. The cattle market was fairly active and fully steady on all killing classes. Receipts were 2900 cattle and 1000 calves. The allotment consisted largely of fed steers and yearlings with better grades predominating.
Cattle Market Active
With a liberal showing of fat steers and yearlings, prices ranged between $8 and $8.60. Strictly choice to prime mediumweights sold at $9.25. Heifers sold mostly at $6.50 to $8.25 with an early top of $8.65. Beef cows brought $4.50 to $5.25 and -cutter grades, $3.25 to
$4.25. Sausage bulls sold for $5.90
down. Vealers ‘were mostly steady with the bulk of good and choice kinds selling at $7.50 to $8.50. Lambs were around 25 cents
6 .|lower as compared with Monday's
average. The bulk of better grades averaged $9.75 to $10.25. The top was $10.50 on strictly choice kinds. Slaughter sheep were steady, fat ewes being disposed of for $2.50 to $3 with a top of $3.25. Receipts were 2000.
Other Livestock
(By United Press)
CHICAGO, July 28 .—Hogs—Receipts, 13,000; including 3,000 directs; mostly steady to strong; spots, 5@10c higher than Monday’s average; SOWS strong to "15¢ higher; top, $11.15; bulk, 180-260 Ibs., N5@ i tn 1325 1bs., [email protected]; most sows, Cattle—Receipts, 8000; 2000 calves, fed steers and yearling steady to 25c¢ lower; better grade with weight show most decline; light heifer and mixed yearlin ngs and well finished; steers scaling 1000-1 down, steady; all heifers stea y, fairly active; cows weak to 15¢ lower to date; bulls steady, and vealers 25¢ or more higher; stocker and feeder trade slow. followin Jairly active buying Monday: $9.35: very liberal 1 in crop; stock steers, $5. Tras 50, with choice montanas, [email protected] on country accou Sheep—Receipts, 4000; fat *jambs steady; undertone firm, especially on strictly $holce grades: bulk native lambs, $9.75@ fed California, $9.25 with throw-outs 0. i native throw-outs, $6.25@17; slaughter sheep little changed, [email protected].
FORT WAYNE, Ind. 28. —Hogs—20c higher: 160-180 Ibs. lbs., $11.1 00-225 1bs.,
$10.85; $10. $10.60; 300-350 lbs., $10. To: $10.80; 120-140 lbs, $10. 20;
$8.50, lambs, $9.
Investment Trusts (By Thomas D. Sheerin & Co)
Administered Fund 2nd Affiliated Fund Inc Americgn Business Shares ... *Bullock Fund Lt Broad Street Investing *Century Shares Trust Corp ‘AA’ ce Corp ‘AA’ or ‘Acc’ (unmod).. Corp Trus Divers fied Vers fie D; vers fie *Dividend Shaves Inc General Investors Trust .... SIncorporated Investors Investors Fund Am [arket St Investment Corp.. aryland Fu i, ‘Investors L Tu ©
g Nortn' American Tr Shs 1955 North American Tr Shs 1956 North Amer Tr Shs (orig) .. “Quarterly Income Shares .. er Shares Inc ... ected Amer Shares (orig) lected Cumulative Shares .- Income Shares .... state St Investemnt Corp ’ 5 ised Shs Inc (Dela).. rd Oilshs ‘A’..
>€ Se]
Jselps a Iselos Voting *Ex-Dividend.
20TH CENTURY MIMEOGRAPHING
‘Bemis Letter Service
LI-6122
MERCHANTS. Bank Bldg.
sk { Am
= | Humble Oil & Fi
TIRE MANUFACTURER .
ec: cj
Don’t spend so'much time fighting for business that is already created, but create new business, William O'Neil (above), General Tire & Rubber Co. president, told the Sales Executives’ Club of New York at a meeting held yesterday. “Increase the use of your product, open up new markets, satisfy new human needs and there will never be a saturation point for the goods you sell,” . the speaker said. He added that consumers are in danger of losing sight of the importance of quality in the goods they buy in their eagerness for long-time credit and easy payments.
STUDEBAKER GORP. ANNOUNGES PROFIT
Upward Trend Indicated by Second Quarter Total
-
Times Special SOUTH BEND, Ind, July 28.— The Studebaker Corp. had net earning of $900,174, after all charges including Federal income tax, in the second quarter compared with a loss of $119,510 in the second qtuiarter of 1935, according to a st:tement released today by Paul G. Hoffman, president. Total profits for the half amounted to $1,004,829 or 46! share on the 2,159,717 shares common stock outstanding. Current assets, including cas! $8,375,618, aggregated $13,82¢ against current liabilities of 503,191. Sales for the quarter were 26 "94 passenger cars and trucks for § 2,422,067 versus 15,831 for $12,012 78 in the same months of 1935.
Chicago Stocks
(By Atkins, Hamill & Gates)
Prev. close.
J
ar a of
of 9 y=
Advance Aluminum ...% Allied Products . Asbestos Mig pocces 3 Associated Investors ... Ne eee
Bastian-Blessing Berghoft Bruce E. utler Brothers ities Service
Dayton Rubber Electric Household General Household Godchaux Sugar ‘“‘A’’ . Godchaux Sugar “B” . Great Lakes Dredge .......... Jarvis Mfg .
n-Rad L .. Lincoln’ Printing ce Lion Oil Refining ... McGraw Blectric .. Musk Motor Sp “A”
Northwest Bancorporation . Public_Service of Northern Ill Swift International Vortex Cup
Schwitser Cummins [1
New York Curb
(By Atkins, Hamill & Gates)
Aluminum Co of America Cyanamid “B” Gas & Electric General Am Superpower Ark Natural Gas “A” ........ Atlas Corp ............... . Carrier Corp Creole Petroleum Corp Crocker-Wheeler Elec Bona & Shar Ford Motors Canada “A” Glen Alden (1) Greenfield Tap & Die Corp . Gulf Oil Corp of Penn ... & Refining Co. Hygrade d
00 J Imperial Oil of Canada ven Jrving Air Chut
Am Am
Niagara Hudson Pwr Pan-American Airways Pennroad Corp Reliable Stores Corp Root Petroleu wa . t Regis Pape alt Creek PP oquTs Assn . egal Rez
Sterchi Brothers Stores [echnicolor Inc [ubize Chatillon Corp Wayne Pump Sunray
RI. 9381
Bonds of the United States Gove hy 0 Its Territories and Insular Pin Ns ! Federal and Joint Stock Land Bank Bonds ‘Indiana Municipal and Corporate Securities ‘Real Estate Bonds and Praferred Stocks
46Y;
producing a fine quality of wheat in ‘other areas. The grain ripened fast and contained more than the usuai number of hard, vitreous kernels.
SCHENCKS RULE THIRD OF TOTAL MOVIE WEALTH
Brothers Guide Two Major Groups in Film Industry.
BY VINCENT LYONS Times Special Writer NEW YORK, July 28.—Thirty-five years ago Joseph and Nicholas Schneck stood gazing at the mortar and pestle, symbol of their profes~ sion as pharmacists. With the object of their gazing, they filled their first prescription and applied it to themselves—it was the prescription for success. The formula did the very thing it was
‘supposed to do,
for today the two Russian emigres of 1893 stand at the helm of companies which together constitute close to one-third the total resources of the motion picture industry. Brother Joe, the elder of the two, is chairman of Twentieth Cen- Joe Schenck tury-Fox Film Corp. while Brother Nick is president of Loew's, Inc. These two movie moguls are still taking healthy draughts of their original prescription, as was indicated within the last week when they figured in one of the biggest deals of the year in the film ine dustry.
Teamed With Zanuck
The enterprising brothers come pleted their coup d'etat when Jose eph’s Twentieth Century-Fox sold to Nicholas’ Loews, Inc. half of its 50 per cent interest in Gaumont-
British Corp., one of the largest
theater operating and film produce ing companies in Great Britain. Facial resemblance. of the Schencks is as marked as the sime ilarity of their business careers. Joseph, however, broke away from his brother to go to Hollywood for the purpose of producing motion pictures under the banner of United Artists. He soon tired of this role and teamed with Darryl F. Zanuck, producer, to organize Twentieth Pictures, Inc., which within the short period of two years was cata= pulted into the front ranks of moe tion picture producers.
Take Over Fax Films
A bit prior to this William Fox had felt the pinch of depression with the result that the giant ore ganization he had erected was slowly disintegrating. To salvage the nucleus of the enterprise a deal was
arranged in August, 1935, whereby the Fox Film Corp. and Twentieth Century Pictures, Inc., were welded into a single organization. Thus one of the oldest units and one of the youngest units in the industry were brought together to form the current enterprise, which 4s headed by Joseph M. Schenck.
Meanwhile, Brother Nicholas was doing well in his own sphere. He was at the right hand of Marcus Loew when the latter branched out and acquired Metro Pictures, Goldwyn Pictures and the Louis B. Mayer Co. Two years after Marcus Loew’s death, in 1927, and while ‘president of Loew's, Inc., and MetroGoldwyn - Mayer, Nicholas engineered a deal whereby control of the former was sold to the Fox in= terets for $50,000,000. °
Farflung Interests
The Federal .court, however, deemed this transaction a violation of the Clayton Act, and a holding company was formed to hold the controlling shares. When the Fox organization, encountered stormy seas the holding company defaulted on a note issue and the Loew’s stock was peddled at auction to settle those claims. The roster of properties controlled by the two companies headed by these industrious brothers reads like a Cook’s tour. In reality, it is a Schencks’ tour which has brought them from the Russian village of Rybinsk to a; position of dominance in the world ‘film mart.
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