Indianapolis Times, Indianapolis, Marion County, 14 August 1936 — Page 20

iA,

Sees Difference in

Invitations to Confer.

——eueBY JOHN T. FLYNN.

N= YORK, Aug. 14.—As the campaign progresses we may expect old quarrels and controversles and charges to be revived. Mr. Hamilton, Gov. Landon’s campaign manager, has just brought out an old one. As it belongs to ~ history we might -as well keep the record straight. President Roosevelt has asked anumber of Governors in states affected

for a conference. Gov. Landon promptly ac - cepted this invitation. Thereupon Mr. Hamilton, his manager, lauds him as a real “co = operator” and recalls the fact that in 1933, just before his in-

auguration, Mr. Roosevelt refused to meet President Hoover for a conference to which he had been invited. There is no doubt that Mr, Roosevelt refused to meet President Hoover at that time. Mr. Hoover has recently inspired a very bitter attack on Mr. Roosevelt for that. In fact, he has charged that Mr. Roosevelt's failure to meet him brought about the bank crash of 1933.

= »

S this relates to a very serious and dramatic event in history, let's get, our history straight. After the 1932 election, a long series of disastrous circumstances hurried along the inevitable collapse. Banks were failing everywhere and as the inauguration approached it was clear that grave trouble was ahead. Mr. Hoover was President, but he had but a brief time left to serve, Moreover, he was a defeated and discredited man. There was little he could do. In these circumstances. he wrote Mr. Roosevelt inviting him to a conference. But his letter, which has been made public, went much further. It took a lectufing’ tone, Mr. Hoover patiently explaining to Mr. Roosevelt all about the depression. It described how Mr. Hoover had things pretty well rounded up all right and laid out for Mr. Roosevelt what he should do to continue Mr. Hoover's great work. This, from a man who had been overwhelmingly defeated for his policies to the man who had defeated him. » ” ” UT the plans proposed by Mr. Hoover to head off the onrushing crash are interesting. All

BUSINESS INDEX FOR CITY RISES ABOVE NORMAL

Conditions in Terre Haute and Evansville Rated High in Survey.

f Business activity in Indianapolis and Terre Haute was accelerated sufficiently during July to carry the trade index of each city to slightly above normal, the research division of Brooke, Smith & French, Inc.; of Detroit, reported today. The firm's monthly survey of conditions in 147 trading areas of the United States showed a total of 22 cities were at normal or above. Trade in Indianapolis was said to be 1 per cent Terre Haute, conditions were found 4 per cent above normal. A month

in the group where business was rated at less than 10 per cent below the normal line.

Marked Gain in Evansville

The current report said Evansville was among the cities which made the greatest gains during July with indexes improving 5 per cent or more over June, “There is special significance in the growing number of cities in which conditions are normal or better,” the report said. “Last February four cities arrived at their normal marks, the first to do so since the depression started. There are now 22 cities at normal or above, with seven others close to the line. “Continued improvement in conditions during July brought the national business index 4 per cent nearer normal. At the end of July a year ago, the national index stood at 30 per cent below normal.

80 Areas Improved

“Of the 147 trading areas, 80 improved their standing over June, 19 remained without change and 48 declined.” Other cities listed in the survey at above normal, and the percentage above the line listed for each, were: Shreveport, 8 per cent above; Boise, Dallas and Peoria, 7; Bakersfield, Green Bay and St. Paul, 6; Charleston, W. Va.,, 5 per cent above; Bangor, Cheyenne, Albu-~ querque, Grand Junction and Miami, 4; akima, 3; Portland, Ore., 1 above. Those said to be at normal were Billings, Har-

above normal. In|:

ago both Hoosier cities were placed | B=

New York Stock Exchange Prices

Amerada ......

(By Thomson & McKinnon)

Noon Olts— High. Low. N.Y. 101%

101% ‘28

e. Phoenix and |goc vae

. | Firestone

Rubbers— crveres 3004 23%

Rub 30% U 8 Rubber pfd 75%

Miscellaneous—

Allis: Chalmers . 57 Al Can

Am . Men & Fdy. 22s

Anchor Cap .... 18% I Ca ? 87

Aviation— Aviation Cor 5% Boeing Aircft ... 28% Curtiss Wright 6% Cur Wright fA 18% Douglas Air .... 13% Nor Am AY. an

8; erly So cft Triew) | 250 Chemicals—"

an Reduction ase 5% Allied Chem

Am Com Alcohol Pv Som Solvents . Me

gasoline - ities . of the United States on July 1, “1088, wad about | 2Y; per cent higher than it was a year before, according to He American Petroleum Institute.

| rail 8

on { i

| 10-Month High Reached

for Third Consecutive

Session.

"A new 10-month high for hogs

was established for the third consecutive trading session at the Indianapolis Union Stockyards today

| when the top rose to $11.80.

The market was uneven. Porkers scaling 160 to 300 pounds rose 15

‘| cents. Last Sept. 28 sorted hogs in ‘this division brought between $11.65

and $12.10, the best level attained here since in 1929. Today weights and SOWS

Scarcity of supplies in the principal hog producing areas were reported and local buyers and sellers agreed that $12 hogs may be expected again,” Arrivals today numbered about 4000 and 283 had been held over. Hogs weighing 160 to 250° pounds averaged $11 to $11.80; those weigh-|y ing from 250. to 300 pounds brought | $10.50 to $11.70; heaviest types, from 300 to 400 pounds moved at $10 to $11.20; kinds scaling from 130 to 160 were salable at $10.25 to $11.60, and pigs between 100 to 130 pounds

Cattle - Supply Limited

steady on._a limited supply of all |3 killing classes. There were only 500 cattle and 500 calves-on hand. Odd lots of steers and yearlings brought $7 to $8.50. $7.50 down. Beef cows were salable

to $4. Vealers opened steady, selling mostly at $8.50 down. At the close they were 50 cents higher, bringing $9 down. Lambs were mostly steady. Good and choice ewe and wether lames brought $8.50 to $9.50. Fat ewes sold at $2.25 to $2.75 with a $3 top. Sheep receipts were estimated at 1000.

HOG k 1.30 8. et 10. [email protected]

11 10: 45 3 1.55

Receipts Aug. 4000

sold at $9.55 to $10.55. Packing| sows were mostly $8.50 to $9.76 with | 4 ‘a few up to $10,

The cattle market was generally a

A few heifers sold at 3

at $4.25 to $4.75 and cutters at $3.25 | 3s

__Busigraphs

- TREND QF

» JULY EACH YEAR

int

OH]

PARKER CORP. GENERAL INCORPORATED INVESTORS

‘Wholesale commodity prices have jumped up the past month and now stand about 21: per cent higher than a year ago. Compared with last year there were price increases in farm products, textile products, fuels, metals and a very slight increase ‘in building material prices. On the other hand, ‘the prices of food products and chemicals dropped. Commodity prices, on the whole, have remained very steady during the past two years with the greatest variation during that time of only 6% per cent.

{Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) 20 20 2 60 Inds. Rails. Util. Bonds. TOAAY +ccocesoeess 91.8 87.8 Yesterday . 91. 3 97.8 Week 280 coco.ven 97.6 Month ago «ccc... 97.1 90.1 97.9

ear ARO ...ccove. 1036 High ........ 93.3

936 Low 90.0 3.5 Copy nent, 1936, by Standard Boutistios,

U. 8S. GOVERNMENT BONDS (By Abbott, Proctor & Paine.) Treasurys

Close. 4Y48 1947-523 soioevecicvsnicne. s 1944-54

cesssenna

i ’e 234s 1045-47 ..ic00000000ee ree 104.6 2%s 1948-51 ...cco0eveinnn....102.14 2%s 1951-54 esersesens vers..101.23 2%s 1955-60 ; Home Owners Loan Corp.

101.18 102.21 101.24 103.7 Federal Farm Mortgage Corp. 3s 1964 ....... hae vEveR ee 104.12 949 103.16

1 3s 1942-47

103. 2%8 1949 .cceoceni increas ..102.23 102.21

DOMESTIC Prev. Close. Close. Alleg Corp 58 "44 ...occeeee... 98 91% : th 55 '49 “sree eeseens 94Y 87 3%

113%

m & Co At Te Coast Line 4s a4 Coast Line Tix '64 m

w Cleve Un Term

WHOLESALE COMMODITY PRICES

‘ments in July

CANADIAN FIRM

REPORT HIGHER JULY DIVIDENDS

Payments Exceed Same ’3 Month 32 Per Cent, Survey Shows.

BY RALPH HENDERSHOT Times Special Writer

ing approximately $25,000,000. In

July, 1935, total payments were $16,e

902,000, and July, 1934, $17,632095 according to figures compiled by E. A. Pierce & po Wig increase , compared with a year ago, was 32 per cent. But the corporations. in the United States did even better. Their dividend p a y-

were approxi- Hendershot : mately 51 per cent higher than in the same month last year, aggre= gating $261,774,877, according to the ° Standard Statistics Co., $172,504,763 in July, 1935. ) Canada’s favorable showing was made possible in no small part by | the prosperity in her mining indus= ry. price of gold and made many of her gold minnes profitable to, operate

again. Canada also shared with the

United States greatly improved cone ditions in her automobile industry,

Federal Aid in Canada Less

Our neighbor to the north, howe -

ever, did not give the government aid to her corporations that ours rcceived. Thus far during the dee pression she spent only about $600,000,000 in excess of her income, and as a consequence her net debt as of

March 31, 1936, the end of the last

Socal year, was only about $3,000,-

Canada’s deficit reached its peak in 1933, when it amounted to about

$220,000,000. Thereafter it receded - : 34 | Steadily, until in the last fiscal year

it amounted to but about $116,000,« 000. And in the ended June 30, 1936, the excess of expenditures over receipts fell to only about $6,000,000. The relative prosperity of the two ° nations, as expressed by the divie

/2|dends paid by their . corporations,

against

Dollar devaluation raised the |

three months

ex Sulph. 38% i 15512 82, | Union Carbide .. 98 y 13 gii’s 30% /2| Drugs— ign Ly ii . ’ Storing ] . [email protected] Sterling Prod ... (140-160) Good a and choice. 4 ed Hy 3 2 ¥ Ya brug new). 18% Lightweights— B on 160-180) Good and choice. . 1 Sal. 65 ahi

the foreign war debts practically SOFT COAL STOCKS Byars an M2 233, 3 ‘Armo 5% 5% 5 Financial—

confirming Mr. Hoover's stand. £ -- 5% / 45%, os a ; Mr. Hoover asked a conference EXPAND IN QUARTER Cuglun hei . ‘5 2 0 317s | Cont Bak ATL 7 oo 3 | Allegheny’ Rt rin 3 1 | Good a: : 1iisgiiis ; i 7

a few weeks before the inaugura- ; TD... : Medium tion to-ensure carrying out by his | Times Special Steel 2 16. 18 16 : Fo ry 39. 8 . - 13% 13% 1 gas ALT and choice... 11.60@11

successful rival of his own re- | CHICAGO, Aug. 14—Commercial vB Pipe. d& Fdy 52 B+ Conti Corp... 1054 {37)i250)°Good. and choice. .” 11.H0@ 11 pudiated policies. He outlined his [stocks of bituminous coal held by|y LL Bulldingo- 23 : Hey IW pt 3 and choice.. 11.90 policies. There could be no point |consumers totaled 28,753,000 net tons b 8 Sie pia 8% Gen “Asphant 1 3als (390-350) Good and choice. 11.00 t d Mr, (on July 1, at the beginning of the | Warren Pipe-Fdy 26 26 seul 27 ls Holland Furnace 39% Packing Sows— z in such a conference an * | third quarter of the vear, it was re. | Youngstown 8-T 71% 71% 1% U oy ; % 84 |Int Cement : -- [email protected] | 3p; Cent 43, Roosevelt refused to enter one. Mr. HT JB) year, Motors— : 1 93 3 Libby Owens ‘Gls g8% 8d% 68% (350,425) Good .. ! asa 93s | I ent 4%s '6 Roosevelt would be in office in a y. (425-480) Good - i Gen tt

- | Shryaes Olen Cons "1:01: (275-350) Medium .......... 8. ; few weeks when he would carry This tonnage represented an in-| Gen Motors .... Hewacholor Sieughier Pigs tari out his own policies.

crease of 2.4 per cent over the 28,- . os 3 c t : 1140 ernt All this is very different from the |083.000 net tons consumers had on |x : - i 134 Gengoteum Bs ; 4 ) ernt present case, where Mr. Roosevelt

p : hand at the beginning of the second | Mack eee 37 3 Kelvinato is President and Mr. Landon is k

risburg, Manchester, N. H., and

1t would have to do Mr. Rooseve Richmond, Va.

would be (1) to assure every one there would be no tinkering with the currency; (2) take a stand on

hardly would be sufficient evidence _ upon which to base judgment as to thé economic merits of heavy gove ernment expenditures to help overs come a depression. The figures probe ably are worth studying in that cone Ya nection, however.

Not So Highly Industrialized”

Canada is not as highly industrials ized as the United States, and ne 4 | doubt her people were better able to support themselves when the slump in trade occurred. On the other ja hand, the fact that our corpora= tions were able- to jump their dividend disbursements more than 51 per cent, as against Canada’s 33 s | per cent increase, probably should is | be put down largely as due to Ped=. eral assistance

Tidewater Assn Un Oil of Cal.

Steels— Am Roll fans.

5s Cleve Un Term 4's . 5s May ’52

11.70 11.30

58 '67 . Grt Northern ‘G* 4s '46 ...... Grt Northern ‘H’ 4s ’46 ....108 Grt Northern 4's 77 193 Hud & Manh at, Ret 5s ’57 .

115% 115%"

Retail Stores— Allied Stores ... Assd Dry Goods. inst Natl Stores

115% 67

00d aad choice. ediu ’

Receipts, '500— (550-800) Choice Good

quarter, April 1. Compared with 100 Serve & Genie” i . 8 Governor of Kansas, each with his the stock on hand on July 1, 1835, : own jurisdiction, and the Presi-

‘| Simmons Bed .. dent suggests a conference to: see what can be done by hoth state and nation about Mr. Landon’s afflicted fellow Kansans.

(Copyright, 1936, NEA Service, Inc.) EARNINGS TOTAL $211,216

Times Special CHICAGO, Aug. 14—The Con-

current stocks were reduced by 12,374,000 net tons, or 30.1 per cent.

of bituminous ceal was standing in cars unbilled at the mines or in classification yards, on July 1, an increase of 10.5 per cent over the preceding quarter.

eo Studebaker Yello

low Truck .. Motor . Access—

An aggregate of 1,777,000 net tons | Bendix

1 Tionken Dt Taxie

Mining—-

Chirgn Stocks

_ (By Atkins, Hamill & Gates)

Prev. 11 a. Bd Close

Textiles— Amer ey olen a 2

se Corp 27% Collins. 4 Aikman 54 Indus Rayon .... Bn,

Investment Trusts (By Thomas D. Sheerin & Company) Bid Ask

Administered Fund 24d...... 1818.00 ‘$18. 23 ited Fund, 07

c ess Shares. .

(900-1100) Choice” Medium .

MMON cvcossnrss (1100-1300) Chote. ies Good .

ghiaakiss

ees esas

DODO RNINUN-I03 POIVORINONI®D

~ Medium (1300) Choice Good

wtvervesery

(850-750) Choice Sood mmon, “medium. /4.

100

It is interesting to note that the ratio of dividend payments fo na-

72 | tional debt was about the same in

Canadas as in the United States in July

Building Permits Helen Krauthramer, 2816 Meridith-st,

stoker Fg Gans, 5670 Washington-blvd,

2 Sullivan, 36 8. - oz, 3100 A Sammie st, gare av, alterations, 930, 00,1324 Broskaides d Fellows vs Building, Pennsylvania and Washin ile John Matlory 5420 Broadway, stoker, Max Pollak, 2339 N. Illinois-st, roofing, H. 'G. Young, 1123 N. Dearborn-st, gare ‘| "George 8. Young, 92 - ny Gore 8. 921 Linwood-av, bases. BR H. Arnott. 247 Massachusetts-av, signy Mr. Kurtz, 5520 N. - 3 $300; dw Thomas. 208 _ th roa Stercay, elecs

CHICAGO ‘GRAIN FUTURES (By James EB. Bennett & Co.)

n B 3% Sra t ad Bite ung is mn ‘ (150-900 (Good and choice.. 17. Ye Es Shares Trust 26.9 | Corp. “AA” or “Acc.” (Mod:) 3.61 mmon, medium. 4. Corp. “AA” or “Ace.” (Unmod.) 3 Corp. Trust Shares (Orig.)... Diversified Trustee Shares “B’ 10. Diversified Trustee Shares er?

88838 yn

S10 30000

solidated Biscuit Co., and its sub- Local Securities

sidiaries, report combined net earn- | uo 1 4ianapolis Bond and Share Co ) rp.) ings of $211,216 for the six months | Tne following quotations do* mot re ended June 30, 1936, W. L. Hamp- | resent actual bids or offerings. but me y

indicate the approximate ton, president, stated today. based on buying and selling. ake aa Diver es “D” Bulls, good = recent transactions iio Copper 1% does Dividend Shares, Tne. sence 181 0198 Cutter,” com. and med. bulk... On Commission Row Bid. oor : id Lat RB face A taventars wi a7 C Jesters 5 ? : ns —Receipts, 500— Sou Rail 6s ’56 . 8B » Sood 8 and choice . Te tense Th «3% 04%

(Quotations below, subject to change, Ce Ind 3 3 Wb 58 a1..104 0g retenianes ! : Invi cevessses 1

Alaska Jun .... 18

908 O0908 039909080098

4a Ri

Cerro De Pasco. 54% Mines .

e Common and medium . Hows Sound a o¥ cutter and cutter

i323 22233 sgh

8 )

Sones bon pasmo 3883

crreeace. 930 93

1 ecveceescoss

sesseesses

Fund 1.0: are average wholesale prices being offered Market Street Iver Corp.. 31s

to buyers by local commission dealers), FRUITS—Pears—Bartletts VOX, $2.75. leceed, iB. Sc. A

. » enna sssesesee sesesesense

Marylan Fun Massachusetts - Investors Mutual Investment Trust.. Nation-Wide Vo tng North American Tr

North Tr, Bi: 168 i En

D Interstate el & Tel 814s Kokomo Water Works 5s ’58 ris 5 & 8 ‘58 ° aie

Eh ol BE 82; yellow w, $1.80 gr a at

50. A lue, 4-basket crate, Te eae 28-1b.

— Indiana flats, | Tndsls Woter

-38, bet Ww! bu., 1.50@2; Pate oy TERRES SVE, i, VSS: STOCKS i VEGETABLES Beans-_Rotnd stringless. A 2 C Brewing Co eon... “ave 2g, Sirol to 9 a Cruligowes : ado, ; washed an

Fis hy ie H

Kale—Home-

YX stown ’81....102% Youngstown 8 8 & T ahs '51...124% FOREIGN

Argentina A 6s '57............101 AI 4148 Js. ri Brasil 8s 41

69 9986 68 098 a8 3438 g8 3&8

Wa BINT am

th so

inn cn

New York Curb

By Atkins, Hamill '& Cates

|B as

3 ih 1 FORESEES

88 FESEE

Corn— Dec. ...... May evssey Oats—, a Dec

MAY .coio0

5 i.

Ganges Bera

Saradian 4 Such Tas ’41 By

5 German 7s 81... ines 81 J 6s ig craters 8 : U8 "AT arvensseonsens. 68%

3 sesensscnces TI

Rome 6%s °52 . Tokyo City %s’ BE reer rne, TSH

LOCAL CASH MARKET

"City grain elevators are paying $1.04 for No. 1 red wheat. Other

suzy 3. FREE

ut ph Id Ed &

NEE S38

wn, dos oe. Peas—Weste Samper. $2.38. Potatoes—Virginia Cob- - blers, 100-1 $3: paves eet potatoes—New Alabama Trium Ohio white, 2 2-doz. + ¥o0e. Sa, ge—Dos.

rnips-—New “Bulk bu., Oe Ie . 10-Ib. rr 00.

FRUITS AND VEGETABLES (By United Press)

at seh, greed Role tit Arrots— es nL. 3b, $2 - Ep thos ied Onion. “market agus « yellows,

3 Other Livestock hy United Press) D, Au 000” an Ho

sagu News Sul ral

- &

a y ee sufpunenasssys

clover [email protected]; No. 1 alfalfa, first cutting, $1450@15; second cutting, $16@17.

'Blvesusenins '85.