Indianapolis Times, Indianapolis, Marion County, 8 August 1936 — Page 18

- on Se 8 "FV ’ Ey

Puzdled oy Quick

PAGEL

infra-red rays it agra goby a rous iron, in rin glass,

Rise in Value

of Swamp. esse BY JOHN T. FLYNN cd TEW YORK, Aug. 8—New York City has started about the business of building its great 1939 World's Fair. The site for the fair

belongs to about 785 people. It has been taken over by the ‘city under ¢ on demnation proceedings.

shall receive for hig” land. The land is made up largely of an old ‘ gwamp upon which refuse and waste has been dumped for several years in order to fill it up. In a few places there are houses some ‘garages and shops. But mostly it is uAwipiot,

NE of the parcels belongs to a gentleman who bought it four years ago. In 1932 he acquired 4 this plot for $22,300 at a foreclosure sale. Four years of depression bave rolled over his thrifty head. And so kindly has been the depression to him that in those four years his land has become magically worth $219,000. One wonders what added nearly 1000 per cent to the value of this land The answer is interesting. Near it a fine public works project has been under way. A splendid roadway built with Federal relief funds is almost finished. We have been hearing so much of the waste of these public works projects that we had come to imagine they were - 80 many rat-holes down which public funds were poured. But lo! up bobs the inevitable real -estate speculator who claims a neat little dividend of 1000 per cent on the land he owns in the general neighborhood of one of these projects. » » f J NOTHER parcel of land belongs to a leading city office holder. He bought it in 1924 and 1926 for $8000—31 acres of it. In 1929 he sold six acres of it to the city. Those were the days when the city, in tune with the wild extravagance of the times, was throwing its money around particularly to political real estate. men. So this gentleman sold six acres which had cost him $1600 for $147, 000. He had paid $8000 for 31 acres. He had now sold six of them for $147,000 and had 25 acres left. Now part if not all of these are for sale to the city for its world’s fair. And the price suggested is well above a million. How this land got to be worth so much, what any one did to give it that value, what contribution toward its "value this speculator made, no one knows. But it will be interesting to the millions who will weave through the mazes of the coming fair to behold how the parasites fasten themselves on the project at the very first step.

(Copyright. 1836, by _ United Feature . Syndicate, Inc.)

EXPANSION PLANNED BY HOSIERY FACTORY

An expansion and remodeling pro-

gram to cost approximately $10,000 | As B

is planned for the National Silk Hosiery Mills, Inc, 514 N. Davidson-

st, H, V. Kobi, president, said to-|C &

day. The building now in use is to be enlarged and an additional onestory structure is to be erected adJoining the factory. This is to increase the floor space 5000 square feet. The addition is to be of brick. The plant was started in

1928 and expanded in 1931. Jones & Laughlin 4%s '61 ...102% ... Utilities— : Los Angeles AE 4 io oes 106% 100se| Am For Bw. Th ° o s ° “ Vr 8 } ' On Commission Row Coutavifle “& Nash asus 2008. o6ts 26% Are & La (Quotations below, subject to change, | Metro Ed 45 65 .. . .. 108% Gol Gas & Ree. 30% sre Syeriqe Ww wholesale prices being offered | Min Gas & E Dr 4l%s '60 ...105 ... ee 3% to buyers by local commission dealers). Monon Ww rg: Ba oe ~~ 108% Jos Ta 4 hi ec it. 17 g TRUITS—P “let crate. $2 50 “Bananas | Nisghta Falls Power 33s '68 . 103% 1083 | Int Elec. a a tee, ib. 8G les—Transpar- | New York Ed 3%s '66 ....... 102% 102% [Int T&T ..... 1 hel BE ee Du chess. 24 in. Okla Natur Gas 41.s '61 ..... 98 98% |Lou G & E “A" ‘29 Bohs a: a8: fot 1 A Virsigia’ Wikosaps: 3% in Qkla Li ia jag Bs 48 ...... 1081 108% Nat Pur & Lt. 13% 8. Lies —Mexi: Pac G & Ml 3%s SL 08 108% aes: 394 a earto x PRE 321501 ‘Benin Secdisst. Peo Sas Lite & Coke 4s "61... 97% 97% | Peoples Gas 29 BE in 3.90. She 0. Mug. Pen Ts #4 + + verses 208 1070 J... 47% pls $3.50. 4-basket are, 3: Potomac’ To & 6s | {Cave eeds 103% 1 Sb Cal 32 Sei. $1.50. Grapes—Seed] Railways Lite oe 65 a 100 ti Stone & Webster ay erate 83... ntaloups—Indiana tiats, | Sagueney Power 4%s '66 ..... 102% 102% | United Corp . 9s-115-12s. $1: home a bu., $1.50@32: Sa Di G & E 48 '65 ...... 109% 109% | Un. Gas Imp 1338 Honeydews. V. R. jumbo, 365-48, $3.50. (50 Cal Clas 4s 88 ............ 106% 106% | Ut Pur & It A 4%: Watermelon gia. 30-1b. 9 So raft as 48 cu.irrnsanes 98 . est Unjon .... 90% VEGET. Beans—Round ~itringless. | 80 "80 111000 104% | Wubbers— per. 3 Bie dos. 456 Cauliflower Thion Pacific $s t9f 0 99% 99% | Firestone ......| 26% Ne. Carre nO 0 Sok 5s. Celera 0 st Penn 3%s 08 107% 107% | Goodrich ...... . 22% Michigan washed and mI ed, doz, I Gas ig Yas 58 tas 103% 1082 Go at Homegrown, don.” sas. Zep Plant wis Pub Serv 4s "61 .......... 104% 104% {US Rubber pid. it : A . e- : Miscellaneous nitiang oar rot ice—Tceberg, Gali- Allis. Ch fornia. 8s. $6; leaf, home-grown. 18-Ib. Loca l 344 Am’ can mort cc i Basket, $1.35. = Peppers—Mangoes, Loulsi: | J rities [is hs vi'd

3 dox., . ana, hamper, $1287 peck basket, ormia yellow, 50-1b. i $1.25. Pa fe me

2350 i. amper. tatoes— bikes Li0-io a Sweet, potatoss New Ein ask. Sic. Ro Rhubarb

New Te oy $1. Tomatoes : AES Pome-growns. fon; basket, 800. | cits Ind Tel (T Hy 4ks a. 0 108%

Shipments of Cantaloupe,

life during the early part of August when prices. increased slightly | U U at Chicago and track holdings were | wasr. reduced considerably, the report Youngston BET 80

report said. Chicago reported moderate supply, good demand, and a stronger tone. Eastern Cobblers | 5m sold in the Middle West at $2.50 a 1060 pounds, compared with $1.75 to $2.25 in the Eastern markets. Cali- po fornia Long Whites brought $3.25 to $3.50.

Chicago market advanced 25 cents over late July sales. Midwestern

Consolidated Oil 3s '51 ..... .. Cudahy Eke 3%s °55 .,.......101% 103 Som, Tank Car 56 Cudahy Pkg 4s '50 ..... ..... 103% 104 n Kec _...... 48% Eastern Gas Elec Wis ‘se eat e3y Gen BR R Sig ... a 2

Towa South Uiiities Stas oy .105

Tm Cob- ve actual y ind

H RH Tel & Tel Ft W 6s "43..... .-103%

F 1

SEASONAL DROP |

LIGHT RECEIPTS

IEPORTED FOR | PRODUCE TRADES

Melons and Peaches

(By on Decline. Come Times Special : WASHINGTON, Aug. 8.— Ship- Lon

brisk because of competition with B other vegetables and. retail prices were around 5 cents a pound in many markets.

Tomato Prices Rise

as is CH

‘assese

g 2: : oF

Now the courts |culture’s weekly report said today. |Staposid of .- 3 A seasonal decrease in: ;

; Otis Steel... Tomatoes began to show signs of Rep Baa Sicer 85

said. Liberal supplies were coming

Motors—

from Illinois and Michigan, selling |Auburn ........: 33% at 75 cents to $1 for 13 quarts. | on antors’ aa

Southern receipts were mostly poor Graham Mot -... 2% to ordinary and consequently sold Hupp Sdvrgrnres 3 at low prices. The better lots, from Mack Truck .... 3% ihe , Pacific Coast, reached $1.75 a Bo 10% 1, RATE en TT ET Lp TRO eye swaee we a Studebaker =... 1 The peach market strengthened |Yeliow Truck ... 3174

slightly early this month with the

approach of the end of the Arkan- | Pe sas shipping season. Receipts had |B been heavy, track holdings large and BH trade rather slow. Most of the Ar- Budd Wheel"... 10

kansas peaches were of only fair

quality, but some better fruit was{m

included in consignments from late- | Greyhound “B" 63

shipping sections of the state. Ar-|iores mods..." 160°

] kansas Elbertas were selling in the |§

Middle West at $1.75 to $2.35. Dealers expected peach supplies to be

Timken Det Axle 20%

limited when the Arkansas season | Alaska Jun .... 14% Am Metals

is over because of light crops re- etals .... 33 ported in Indiana, Illinois and Mis- An End 0 souri. Oal & Hecla 12 Sl Rai Be Apple Receipts Increase Dome Mines 3

Apple receipts increased in mid- Homestaxe Jin. 425

western markets, St. Louis report- | r,x

ns Co ing 2000 bushels arriving daily at |Int Nickel ..... 51% the beginning of the month with | Ei Greer, Goal. 28% prices tending downward. Wealthy McIntyre Mine. 4314 and other kinds sold at 60 cents to Phelps Dodee 305%

Midwestern potato markets indi-

$1.10 a bushel with some of good |St Joe Lead.... 268% color priced at $1.60. Va afehens.. 1020

Amusements—

cated a stronger tone as compared | Srosiey. Radio... 30

Onions Up 25 Cents

x 28 with the East, but prices remaine§ | Loews Inc ...... 54% at low levels in early August, the Eadio Corp For Ue

vores eee 6%

Warner Bros .... 12%

Tobaccos—

Am S Tob 5% Am Tobacco B; 10204 Gen Ciga: oo §

a 2 Philip Morris . 95 Reynolds Tob ‘B’ 56

Ralls

Atchiso 88%, The nearby onion “offerings were ATES Lines. 33%

becoming : gjsates factor in cen- Can Pacific .... 12% ral. marke e report said. Qual-| &p 1 ity was improved and prices at the Mes wd 10

GMS SP pd 39 Chi N W p *

-Dela pA Hudson. 48

yellow onions, in the East and Mid- + Ro os Wo 61 dle West, sold from 80 cents to $1.15 | Erie pfd ....... 27Y, for 50 pounds. California White |§¢ Pd 43% onions brought about $1.50. KC Sou .......

- | Lou 90 New Bond Issues |E&% 5p: +

(By Lyons & Co.) N Y New Haven 3;

Conn River Pr D& Lt 3%s '61 on 106

Bid. Ask. | Norfolk & West. 285: 99 993 | Nor Pac

C “E” 3%s "96 ........ 99% 997 West PMaryisnd. 10%.

Chi West In 43%s '63 .. .. oo. 101 1 Chicago Union Sta 3%s 51 . o4te 104% | Eeuipments— Cleve Tractor 58.°45 ......... 2 100%; | Am Brake Shoe . p+] Columbus Railway San vary 07% 107% | Am Car & Fdy.. a m ves us! ’ +7102. 1025 1A MOCO -.. iene ¢ i Heats 192% | Am steer Fay 3914

Edison Illum 3%s '66 ......... We Iman Inc ... 52% 3 West Air Br .... 417 Tndpie Water 34s '66 . ...... 100% 101 Westen Elec .. 144 ai

Cap . .. 2 Indianapolis Bond and Share Corp.) | Brklyn Man Tr. 33

icate the pcoztmate market level

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Tel rel Rt. Sas '58 10 uaaios

foll tatio Burroughs Add . 0 al Bas"or uo ns ot SIGE Cll

based terpillar Tract 72 | on buying an d selling inquiries or | Grown Cork

HINDER TRADING AT CITY ys

Buyers Bid Up Small Lot of Porkers to $11.50,

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NEW BUSINESS BOOKS AVAILABLE AT LIBRARY Te now al at the : SE tna. ™E von ‘OF MONEY, by

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STOCK HE |

Shares Touch 5-Y 5- Year Highs | ‘—Traders Ignore Tense

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Chicago Stocks

(By ‘Atkins, Hamill & Gates)

‘| day's level.

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po ’ ; 106 . E ments for the last week in 11 MidN. Y. Bonds |&x DAILY BOND INDEX Fone Rubber : “(1926 average equals 100) Electric Household ........... . 14%

60 - Godchaux Sugar ‘A’ Godchaux he B ricerecess 20

Corre, 1036, by Standard Statistics) ie $7.50 to $850, Top heifers sold at

$8.75 but most sales were for from $5 day on the Chicago Board of Trade

GOVERNMENT ‘BONDS

* Williams epmatfon (By Abbott, Proctor & Paine) Jorte x Cup

seecrereravaveneee 20- | Bohman” Gi ireeeinits 37% :

New York ork Curb

_ (By Atkins, Hamill & Gates)

Aluminum JX Ametich. sisi a8

Federal Farm Morty Cop.

Tee resses tenses

AT “Natura xy. Ar Go al Gas (A)

e Petrol um Corp ....... 23

Pennroa Root B Stores corp,

Hear rweights— alt : Te .e i J Balt & Ohio. 4%s '60 (250 290) Good and choice.. [email protected] Buff Roch S

Sess esenssen ans

A WEEKLY CLEARINGS BELOW 1935 PERIOD

on sesessensencs

- NEW YORK, Aug. 8.—Although s bank clearings turned upward during the week ended Aug. 5, following a decline the previous week, the corresponding 1985 aggregate was| not reached, according to an report 3% | today by Dun & Bradstreet. The total in 22 leading cities was $5,451,260,000 for the latest week compared with $5,506,320,000 for the % similar 1935 period the report said. Total clearings for the week were higher by $813,279,000 than for the preceding week. Clearings at- New York City rose for the week, but were 11.1 per cent below the like is | period last year, the report said..

— . QUARTERLY NET HIGHER

hern igh 4s 468 ..

NEW YORK, Aug. 8.—CurtissWright Corp. today reported net income for the second quarter ended ‘June 30, of $553,341 against $268,479

receding quarter. This Sompartd with a loss of $97,472 mba the corresponding peiod last

BABES Lat LlRls

-3 5 .

iy sr DETROIT BUILDING GAINS

FREFRFERRESR

permits issued in Dot ding | +h July totaled 906, an increase of 139. per cent over a year ago, Chamber of Commerce heads

Soe aa

wn rd

Other Livestock

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

Bankers Trust . Seat Hanover ...i.ceoue. : oa freer eiraeeanaans 50%

sey A ieiensussessn JB sas isBssreNeBB sens

oe > vissress Essense

Sessssresisuracsancanes a Ed ceissssenssstainen

Top for Year.

Trading was Ee I altea, for lack of supplies. Athen rivals are usually light on Saturdays, receipts today set a new low

Offerings numbered 400 hogs, with 215 holdovers, 25 head of cattle and 50 calves. There were no sheep. With orders in hand, two ran up the price on one lot of 200 to 225-pound hogs to $11.50 a hundredweight, a new top for more than a year. However, because of the abnormal conditions, the price is not to be recorded as a practical top. These sales were around 20 and 25 cents higher than yester-

Cattle Lower on Week

CONTROL OF RETAIL - PRICES, compiled by Darnell Cor-

Although swine receipts for the

3, | week showed a decline from earlier eT id ‘weeks of the summer, the total from Friday through Friday was ap- :

‘Compared with the close of last|COrn Futures Fluctuate in “Narrow Range; Wheat: Rises Moderately.

Top steers broughi $8.85, while the | 5, 17,1104 press

‘CHICAGO, Aug. 8.—Corn prices fluctuated within a narrow range to-

proximately 23,150 head, compared with 23,002 actuals the preceding week and 20,146 a year ago. Ship-|

western centers totaled 280,000, compared with 270,000 for the same week a year ago.

week, fed steers\and yearlings were steady to 25 cents lower. Better grade heifers were steady and other kinds were mostly 25 cents lower. Cows were steady to 25 cents lower.

bulk of better grade steers sold for

to $7. Late in the week the bulk of

in mixed trading. beef cows were salable at $4 to $4.75 At the end corn was unchanged

and cutter grades sold for $3 to

$3.75. to up % cent, wheat wasup % to 1|88%

Vealers and lambs were nominally

1 4, 1 03a11; 25 11.25 6500 5, - [email protected] 11.35 4000 8. [email protected] 11.35 4000 1. 10.50 1 .30 11.30 4000 8. no market een . 400

Ligh 38 Good and chaics. 2. Sigil A5 iedium

Lightwei t160- 306) Go ‘Good and choice.. [email protected]

Medium Weigh (200-220) d and choice.. 11.10811.30 (320-380) Good and choice.. [email protected]

(290-350) Good and choice.. [email protected]

; En soo110 Good and ‘ehotos.. 000 3.00 and medium hus, $288 308 | Etective Ji 1. peing lambs , classified

(By United 7 Press)

cent and oats were off % to up % steady cent. : Tete was little overnight news to | gui raders and prices moved |e en foes a a oy. coer Trion os Sada, at ibe following quotations are as der scattered buying ‘and selling, HOGS Most traders were inclined to take a. " wot 20 stip Te%'0id | the side lines and await further de1.35 11.38 4500 | velopments before entering into new commitments. Forecasts for dry weather in the corn belt .over the week-end was a bullish factor in the

Wheat Pits Quiet

i ‘Wheat prices gyrated moderately 10.30@1 avon Gong gud cho 138113 | Winnipeg. generated soaterea buy

market.

2 yellow. $1. pa gTClicy 10%;

; : ty grain “5G0c lover: | $1.03 for No. 1 red wheat.

wed } Ra A Es

. 2,222/898,967.75 1. > : Pub. deb 33 419, 180, Hoss 23.11

Slaughter P: (100-140) “dona ] and choice. . 3x loa quiet market. Trading was very Cc a PYLE £2 ’ : | light. Rye held an easy undertone ~Receipts, 25— through most of the session under (880-900) Choice .......5..8°8000 8.78 | Scattered selling, Lard ‘held about seasessensess 7.00@ 8.00 | steady. Medium ss esvesee 3.04 Lye OMMON ..ov0cvess R io 1900-1100) Choice Ciasasnssses 8.00% 8.18 omcaco gna RANGE Medium .ooetorees 6.00@ 7.75 By ") Common cceseeese 5.00@ 6.00 Low lose (1100-1300) Chdice ... 8.00@ 8.75 | Sept 1.10% 1.12% Seam’ 5.000 199 | B25: Tos 111s iio (1300) Choice --.-» a 3009 828 ay. a : ood Heit f "| Sept 1.04% 1.04% 1.04% : eliers Dec. 93% 93% (550-750) Chole Cesveseeiei 300 31s May 89% .90 on. hemi. 425@ 17.00 (150-900) Good Sad choice. . 1208 8.75 | Sept A115 42 42 Common, medium. 4.25@ 7.00 | Dec. 43% 42% 43 | oO felt OE | May 43% 43% 43% Cash Goold .... ..aviniinn, tans $ 5.000 5.75 Common and medium ........ $38 5.00 | Sept. Te * 93 a9 Gold 1 es. Low cutter 3nd cutter........ 3.00@ 4.00 | Dec. J8% 18% cus ms. . Bulls, g00d .e.---0.0on0eie... . 5.00@ 6.00 | May J8% TM% TT% Cutter, com. snd med. buik.: 4.00@ 5.75 : ; Vealers. Sept. ...... 8a 8% —Receipts, 50— Sood and choice ............. $ 7.000 8.50 | Sept. 11.67 11.70. 11.78 Megium .............00000000. tna 7.00 Sen: 1175 11.77 11.82 Cull and common ............. 4.00@ 6.00 | Dec. 11.85 11.87 11.92 Calves de (250-500) Good and choice..§ 5.500 7.00 : Com. and medium 4.00@ 5.50 CHICAGO PRIMARY RECEIPTS: Jan eeder and Stocker Cattle ; Ma a EE i Sho a2 ito Ton LRRLWE uly (800-1080) Good and choice. . 578@ 7.00 Wo i) 1309.00 618000 oi 4 medium 450@ 5.75 | Oats ......icu0vvenennss 113.000 1.331,000 : . 4.25 3508 37 CHICAGO CASH GRAIN (By United Press) ; Janiiars \ CHICAGO, 8.—Wheat—N: $1. 55 No. 2 1.14; No. Th r May 1.22; No. 2 hard ; $1. [email protected]% rh July

ellow, $1 1 2s; No.

$1. 3 white, $11 1 “pale September iS Bode: - whe 1 aa wo Nes

R! ghsep and lamb waotatien on clipped Fa a a cating i$

Timoth: Other Livestock ai dose. S11

CHICAGO Aug, 8. 3.—Hogs—Race 4000 a 2 01 1a GR 2 y Sai rects: too De 1.12%. "Oats

11.75, asked: $11, A

Foreign Situation. By United Press NEW YORK, Aug § 2-The stock

market points today, establishing further. Americ has ||RMew five-year highs, in active Sate

Traders ignored the tenseness © the foreign situation as they . the industrial average to “The foreman who expects to hold | | 1€Vel since 1931 and the railr the next few erage to close

activ seek: much of the: factors. afand his job.”

the foreign bond list where Italian bonds again weakened. oe Business News Cheerful

Business news continued cheers 1 and gave traders a chance to extend their bullish operations. The Stee} industry was in the forefront as announcement .came that Pittse burgh steel operations next week would be at 72 per cent of capacity, the highest since 1929, The export copper price today was to 9.625 cents, the best level for five Years, | on demand reportedly the rush for armae

lifted to resulting: from

ments, Steel and rail shares started the | early advance which later re buying into all divisions. - Numer« ous highs were made. they include Union Pacific at 145, up more than%a point, New York Central at 43%, Baltimore & Ohio preferred at 35%, Southern Pacifie at 43, Southern Railway at 23 and Atchison, Topeka & Santa Fe at

: Electrical Equipments Up ; Youngstown Sheet & Tube made ‘a high of 80 for a fracti Gulf States as 63, up 2, an ble gained a point. U. S.

was active. Electrical equipment shares ‘were at new highs, Westinghouse up 2% and General Electric at Peoples Gas touched 53% for 2% gain and a new high and Consolidated Edison gained fractionally. : Sears Roebuck headed mail order ing of all futures soon after the Maret Min1% cain 10 2 new hi a opening; but small profit-taking resulted in a reaction and prices declined from the early high levels. A local ‘operator was credited with : 5-20@ 5.30 | purchases of wheat here against (425-450 d Tins es saies 8.25@ 8.50 | sales in the Winnipeg market.

Oats held about steady in a very

at 143% 48%, up 1%.

ened uhder lead of Kennecott, " more than a point, and Anaconda. Railroad ‘equipments strengthened, New York ‘Air Brake rdaching a high at 54, up 1%. American Can came back after yesterday's sharp break, gaining more than 2 points. Motors showed fractional gains in quiet Aurpaver. ;.

Money and nd Exchange

: TREASURY STATEMENT

aad A > TE Ys fit al car agar to. Aug, , a8 compared with 8

Commodity a

| (By Abbott, Proctor & Paine) 8 -- COTTON

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Investment Trusts

(By Thomas D. Sheerin & Co.)

re A steady with o. 32, Cen { Fl Te el | Bony SAR rh ve or SE re Eh nd weighty sf Yn Ob 5: No. 2 white, 43%@ | Di gpa HE CE To ae io34; approximately 11.000 “Western aie —_— General 1 4 £10 5¢ LOCAL CASH MARKET : Jacorpors : elevators are paying Mask