Indianapolis Times, Indianapolis, Marion County, 15 August 1936 — Page 9

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{Need of Neutrality

Laws Proved in Spain.

JOHN T. FLYNN

Aug. 15—~Last

PROFITS, SALES OF LOCAL FIRM

Gains 66 2-3 Per Cent Over 1935 Period.

Net income of. the Schwitzer-

SHOWN: HIGHER

Schwitzer-Cummins Income | 2°"255

gall | Q | r

rit mt |

INLOGAL TRADE

|Underweights Decline 25

Cents; Top'of $11.80 Is Maintained.

"Top hog price of $11.80, best since |

ENDS TWO-DAY DROP INP PRICES

Al Sections ns Share in ‘Rise ‘Made in Short, Light Trading Session.

By United Press

=a =F

=1C Cummins Co. for the first six months of the current fiscal year, ended July 31, is expected to amount OS to approximately $210,000, equivalent to $1.45 a share on 145000 shares |! now outstanding. The preliminary semi-annual Skeliey statement today showed profits of | Soc about $245,000 before Federal taxes, compared with $147,000 in the cor-| 2. oa responding period of last year. This | Tidew was an increase of 66 2-3 per cent. Sales rose 52.5 per cent in tue same period, amounting to $1,334,000 8s | Beth J | against $875,000.

NEW YORK, Aug. 15.—Stocks turned about today and scored gains of fractions to more than a point after two sessions of decline, Trading was light after a mode erately active opening. At the oute set, the list was mixed in a nare

: Sept. ‘28, 1935, was maintained at the local livestock exchange today. pub silitude_toward un. are a Ei exist for shergeiic 5 a Sows or e yesterday when the top for the last Tho Sareiuly ea thelr Job-seek 10 Soanibis was were ae THE ORDINARY DIFFICULTIES OF of line, were sharply 35 cents lower. EVERY DAY PEOPLE, by Jehn R. SE BERN NT ‘to 50 cents higher. Underweights lower 4 the tempo, ‘Wwe shall have dons | | were 25 cents higher and packing sows were mostly 50 cents higher. Porkers averaging 160 to 250 pounds brought $10.75 to $11.80 to-

nh of the defeatism in the rent public

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the rails which were weakest at the start. : Gains in most instances were small although a few extended over

THE LAUGHTER LIBRARY, edited by J. H. Johnson and others.

A book of appropriate stories Jor any occasion an: a conceivable situation, and, best ot

a% a

Flynn

_ there is really no way of preventing it, assuming the Spaniards want to fight. ;

” " 8 w= men fight about such elemental issues as human liberty and political rights, they «do not do so quietly or mildly. They syeserve the right—and exercise it— to bombard their cities and devastate their countryside. Apparently these bitter forms must be gone through until one side prevails. For the nations outside the problem is, of course, how to keep from ‘being drawn into the vortex. For some of those nations keeping out may not seem a aesirable thing. For instance, France may well ingist that she can not sit down idly and sée Spain turned into a Fascist ‘dictatorship on one boundary with Fascist Germany on another and Jascist Italy on another. France _ therefore will consult her own interests as to whether she will go in or stay out.

8 ” 8 MERICA, presumably, will do the same. American leaders “will weigh prudently and fully all

the issues and adopted their policy. Of course in this country the policy will be for remaining out. . But in the meantime it is within .the power of any stray traveler, ~any wandering ‘tourist or any ac+ -quisitive adventure to precipitate trouble by carelessly drifting into the line of fire between contending factions. This an Englishman has now done. Capt. Robert Saville, on his yacht, with the whole ocean to meander about, elected to sail his _ craft into Gijon where a rebel _ cruiser was preparing to shell the fort. Mistaken for a loyal vessel, the rebels opened fire on the yacht and killed Capt. Saville.

APT. SAVILLE'S right to wan- « der on his private yacht amid the warring factions in one of Spain's harbors is measured against < the right of the English people to be at peace. In our Senate bill American craft and American travelers were to be kept out of such troubled waters. There seems to be no reason in this world why the .peace of any nation should be ‘en--dangered by the whim or enterprise . of one of its citizens who insists on putting himself where he may be- - come embroiled in the revolutions

Employs 700

and home office is at 1125 Massa-chusetts-av. It has sales offices in Cincinnati, Louisville and New York. About 700 persons are em-

factures domestic and industrial coal stokers, ventilating equipment, water and oil pumps, fans, blowers, superchargers and other automotive appliances. Net income for the 12 months ended Jan. 31, 1936, was shown to|Y be $338,375, or $245 a share, an

parison with : the $154,273 earned

close observers expect the firm to make profits for the current fiscal

would be equal to $4.13 a share. Sales Improve Rapidly

Sales for the year ended Jan. 31, 1936, totaled $2,349,671, compared with $1,367,672 the preceding year and $835,495 the year before that. Already, after six months of the

have exceeded the total for the year ended Jan. 31, 1934, and practically have equalled the 1935 total. The company’s balance sheet on Jan. 31, 1936, showed 460 shares of $100 par common stock outstanding. On April 10, these shares were changed to 46,000 shares of $1 par common stock and a 200 per cent stock dividend was paid. This resulted in 138,000 shares of $1 par common stock.

Shares Offered Public

all of which was purchased from stockholders, were offered publicly at $16.50 a share. At this time 7000 additional shares were issued, bring-

shares which constituted the sole capitalization of the company, as

preferred issues.

Stock Exchange. It has ranged be18%, selling yesterday at 21.

CHRYSLER WORKERS

Times Special NEWCASTLE, Ind, Aug. 15. — Employes of the Chrysler factory here today were cashing more than

t The Schwitzer-Cummins factory|u

ployed by the company which manu- | op vsier

do Hgounusnan Nusa NR REETERNRS

a KGS FER

year of as much as $600,000 which |;

Reo . Studebaker .e Yellow Truck

increase of 119.3 per cent in com-|Bend

in the previous fiscal year. Some | Bri

Greyhound Houdalille

Mining— Alaska Jun s

current fiscal year, the firm's sales | Ins Cop

Isl Creek Coal «. Kennecott Cop.. Mine... 41

McIntyre Park Utah

Vanadium

Murray Body -.. Stew Warner . Timken Roll .... 6

Amusements—

Fox Theat Loews Inc Radio Corp Paramount

Oo Warner Bros.... 12%

Tobascegs-—

Am Tob “B L & Or

Rails— Atchison

there was no funded debt and no| chi

In early July, Schwitzer-Cummins | Erie stock ‘was listed “on the Chicago | Erle

tween a high of 22% and a low of | = c's

GET BONUS CHECKS Bh

Am Car &

$100,000 in bonus checks handed |Amer

rillar In April, 60,000 shares, practically Ril, Morris.

102% HT 107% 22%

8% Atl Coast Yeinies. Sia B&O

ing the stock outstanding to 145,000 | Ch & Ohio

West Maryland.. Equipments— Am Brake Shoe.. 5 Y..

30;

aes FEES

. Pt al pet R=I0

SESE

First Piet Nant Stores Gimbel Bros .

Beciasuin. ue

rear 10E 31 102.

Chi Milw & St P bs

N. Y. Bonds

DAILY BOND INDEX (1926 Average Equals 100)

20 20 Rails . Util. 95.7 1058 33 8 105.8 105.5

106.1 101.2 106. :

Treasurys

. 60 Bonds 37.7 27.8 37.1 30.1

07.9 93.

936 Low 90.0 103. (Copyright, 1936, by Standard Statist] lcs) In

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

Prev. close

5 we =

B uabEuny moem.n 8 CTE FF (EFSF [XT 28% Sense

gym

13% i 2, 31

26s

52 31 27

{of for $8.50 to

4 Arkansas Gas 4s 81g fssociased rs 45

Local Securities (By Indianapolis Bond and Share Corp.) The quotations do

buying a recent MR tion: Aa BONDS (T 4%s ‘61.103 104 W 55 ....10¢ 105 3 enna .104

me T % To Hook Drugs

07.71 Ind & Mich Eee ¢ Co ‘ofd 7s... 2

Tad Gen Serv C Indole Gi

6s Indpls oe & Lit "Co fd 6s Indpls Pwr 5 it Soh oa 8 6las %

Ind pfd South on Title: Oo co & eo pt os. -102

“Ex-dividend.

(By Lyons & Co.)

tral | gad 2% 3s Chi W

not ids or offer: e a nl uy selling inquiries or

Bid. Ask.

um . we Good and choise. . . 20 TH Elec on cress 92 99%2

New Bond Issues

a. 325.

(550-500) Choice i 1 Good

day; weights from 250 to 300 pounds sold at $10,50 to $11.70; kinds scalfrom 300 to 400 pounds were pon Tig for $10 to $11.20; the 130-to-60-pound classes brought $10 to $11.60, and pigs weighing between

100 and 130 pounds moved at $9.50 to disposed

$10.25. Packs SOWS were $9.75. Top price was $10.

Hog Receipts Set at 1000 Swine receipts were estimated at

1000 with 279 holdovers. Other ar-:

rivals werg at low ebb, 50 cattle, 150 calves and 50 sheep being offered. Compared with. the close of last

‘week, fed steers and yearlings were

fully 25 cents her. Spots were 50 cents higher. Heifers were strong to mostly 25 cents higher. -Cows were up-25 cents, while bulls were 25 cents lower. Vealers moved upward. from 50 cents to $1. Top steers sold for $9.25 but the bulk brought $8 to $9. Top heifers sold at $8.85. Bulk were $6 to $8. Closing beef cows were disposed of

at $4.25 to $5 and cutters at $3.25

to $4. - L The lamb market was nominally steady.

HOGS

Aug. Bulk HP i wn 200 H 4 $

nes

4000

Ty 1: neil. 80 oh ; 1000

ian) gio Good and choice. $Y. [email protected] Medium .cceovveos [email protected] Lightwe

60-180) Go Good wed choice.. 11. 33011. 65

Mediu Medium We! (200-220) -. gH choice. . '(220-250) Good and choice.. Heavyweights— : (250-290) Good and choice. . _ me:si0) © Sood and choice.. i 50). ¢ = aaveve (375-380) ‘Medium [00000 v | Slaughter Pigs— (100-140) and “choice. . jum

=Receipts, 50,

2 Seis OVINORINONIDO

83383 PERpsuRSYIEEY

(1100-1300) Choice eons Good .

ele wee

£553

23888 3 09898 O08 0300

(550-750) Choice ... Good

Common, medium. (150-900 YCvod and choice.. mmon, medium.

55 - $900 ig: iiss “11; 3500°

all, adequately indexed.

THE TOWNSEND SCHEME, compiled by Industrial Conference Board.

WHEAT RALLIES TO SHOW GAINS

Futures Up Vs to 1 Cent at Close After Early Slump.

By United Press CHICAGO, Aug. 15—Short covering operations rallied wheat prices after an early dip today on the Board of Trade. At the end wheat was up % to 1 cent, corn was up % to % cent, and oats were unchanged to up 3 cent. Pronounced weakness in both Liverpool and Winnipeg was reflected by a decline in prices here in the forepart of the session. When Winnipeg broke through the dollar level, however, Chicago operators became active on the buying side of that market. The subsequent rally in the Canadian market combined with strength in Kansas City to form the background for a late short cov-

‘3 | ering movement here that swung .60 | prices up to the day’s best levels.

Rally Stimulates Volume The strong cash situation locally

was & strengthening factor in the

futures market, as shorts were quick to cover. Interest in the market

was light in the early part of the

day, but volume of trade improved on the rally. Corn prices Autire within a moderate commisa Lit Es was absorbed by buying on resting orders. Prices were on the downgrade at the start as additional rains were reported over sections of the belt. losses were recovered later on moderate buying. Oats and rye were inclined to follow the trend in wheat. Lard futures were irregular as hogs hit a new high for the year at the Chicago Stock Yards.

Early |

a point. Hiram Walker made & new high at 35 up 1% points. Others to rise a point or more ine cluded American Car & Foundry, American Smelting, Campbell, Wy= ant & Cannon, Celanese, First Nae tional Stores, Industrial Rayon, Phelps Dodge and Timken Detroit Axle. Timken to Pay Extra , The rise in Timken followed ace tion of directors in ordering an extra dividend of 25 cents a share on the stock. Columbia Gas rose on a favorable earnings statement,

which also helped Consolidated Oil, Rubber stocks were aided by the

-| report on June shipments of pneu=

matic casings which showed a gain J of 36 per cent over June, 1936. ; In the railroad division trading was dull. Union ‘Pacific touched 142, off 2 points at the opening and then regained part of the loss on a few transactions. ' Atchison picked up nearly all of a one-point decline. New York Central turned an early loss into a small gain.

Philip Morris Breaks

Automobile issues met support on heavy production. Small gains were noted in the leading issues. Auto« mobile equipments resumed their rise with fractional gains in Briggs and in Houdaiile' Hershey B.

Philip Morris broke 5% points in the early trading and then met some support. The decline coincid«

ed with announcement of the deathly

of the company’s president, Leone

{ard B. McKitterick.

Mercantile shares continued to ats tract buyers on improvement in trade. Farm issues were steady and dull after their decline -yesterday, Amusements also were little changed. Communications were down slightly and Western Union up nearly a point.

Money and Exchange INDIANAPOLIS SEATEMuNT : Clearings ses 38, 2,835,000 Glnsings for Seti’... nau

~. TREASURY STATEMENT (By United Press) WASHINGTON. Avg. 5.—Governmen expenses and receipts for the current tfiseal a0: to Aug. 13, as compared with a year

This Year Last Year Expenses 3 703,273,097.85 $1,002, A) 84 ceipts.. 501 811 L113 | Befap. S01.3TL.113.84 eee 34,207,655.78

CHICAGO GRAIN RANGE Sash bal

bt. a3 401 fa py (By United Press) ,816,629.48 280 2,411,501.53 -

Loco Am "st ol Fy... Fe Sol « = 3 Gold res... -10,682.541, Jas.4 9, % 878,464.78

or wars of other peoples. them from a special cashier's office | Bald .. Yet England has now notified | yesterday. Local executives of the [Sen Ele _..... dt Spain that it must do no more of RSOmPADY =i it was the Sood Pullman Ine ... 3 its revolutionary. fighting near the | bonus o € year, approximately | westj ne 160 Straits of Gibraltar, which must be | $150,000 having been distributed in cotogt E bo 100, ‘kept safe for British yachts. February. Am Power & Lit 1 (Copyright, 1936, NEA Service, Inc.) The minimum check was $25, |A T&T 1 Ba presented to all who were on the 11.07% 108 . COMMODITY INDEX UP | pay roll during the last quarter of | Eee vr & Lit. n 3 oh i Nera 4% i 1 San Diego G & E 4s '05 ~ Times Special 1935. The maximum paid was $35. . 14 |Hud & Manhat Ref 5s NEW YORK, Aug. 15—The com-| Any in excess of $25 was based on [2 T&T i HR Bw Ill Cent fig. modity index of wholesale prices| number of years of service. TIE Gent 58 "63, ...r. noses. for the week of Aug. 8 rose 1 per — nterbo - cent over the preceding week to the INSURANCE FIRM SOLD Chicago Stocks Atorne To g a “highest point since November, 1930, (BY Atkins, Hamill & Gates) Interntl Tol & Tol the bureau of labor statistics said Times Special Se ol & today. ' ecia ose. Close. — o SOUTH BEND, Ind. Aug. 15.—The Py nr at 3 ed can Mutu tive Asso-|pefgno NEW YORK STOCKS : es lssion Bow ciation of South Bend, an assess- Gent Til Pub Service pid... ... a 4% N 18 Gent 43s 20 ib oid ne : 5% DA | oie Trust eis Ba a pre "wives Rl prices being Soffered | Ment benefit life company, has pur- | 89% i iy 131; | Nor pac 8s 2047 oo ME % | Central Hanover ............ gH eh

on dealers). chased the American Mutual Pro- Godchaux Sugar TB ess 1 cssssensssnes

' OHICAGO PRIMARY RECEIPTS Nor Pac 6s 2047 cadusnessnnsidll 111 8 Lieees Bushels s—Bartl letta ApS tective Association of St. Paul, Godcha ux Sugar “A” cesses 3 a vreenenaed} Today. Last Week.

$2. Penn Ry 63 . cesses sssesnInye Minn, Con rr Penn Ry 414s ‘86 ..ieroeeisand esesbiieesss 1,167,000 1,581,000 ents. a Br Soles ER ate origin it was announced today by |Ken-Red "Ta L .:iierrreeie: Py Wheat 107 BE lo. 1 Virg if, 3o0ueah umes |

Close: Sev. |Customs. . E 11 4 1. Tie FOREIGN EXCHANG : E 08% 1.08% (By Abbott, Proctor & Paine)

fe siuneses SOB 1, 1.08 1.07% = Soares 35% 93% 98 94% May .ccoccee I i «9 91 Oats— ol 2608 Sept, cccsesess 43% 42 42% | ‘4033 Dec. ®ss0senee & » 43% A431 » MAY cessscnes Ads - 48% 44% | | .6806 a Sept. cesses » *.82 80 Sept covesetes o iv 19 0a Nk oe. csssevess 19 A6% .18%a .11Y% Barley— . Sept. +ccve.ere J9% 18% T9%D 83%

° = 09

gist

2 09

gonna a338d

Bu hd = and med. bulk... Vealers -~Receipts, 150— Sood and choice ,

Prev,

Par. Country. Er Pub Serv. $8.2307 England . I 0211 11-18 $5.02 1-10 “gery », Railway Lite 4%s 0788 Grt Northern “G’” 4s o- Dry Power 4%s '66 oot Teaty™® tgs

i] @ o ose ago

(250-500) Good and choice..$ $ : Com. and medium Feeder and Stocker Cattle ) Com, and choice..$ 6 medium.

and (800-1050) Goo nd choice. . Com. and medium. ws

QOOd: co. ian ie sere ® Common and medium Lard- : \MBS veces 12.20 12.15 12.208 12.25

—Receipts, 50— - 12.30 12.25 12.30a 132.32

Lambs— # Bh bi ; Dee. ik: d. . 13.38 13.91 1245 3

sg =

He §

8 oe gs n

UA Sana on

00 0980 09 3 @*

Lu hake 83 33238

Commodity Prices (By Abbott, Proctor & Paine) y TTON

Unlisted Stocks

‘(By Blyth & Co.)

1 i

vessssssesssasns

A Rp pe Seb ie hud fh Bed et S833 peed hut hh i a

aba Thiet bed

Chemi cal Continental ....ceesesenseess ri Ri Penn Ry 4Ys 81 se 88d, Guaranty 54 358 COrfl ciesssvsvscsssos 362.000 : 93:30 nsurance promoter. McGraw Electric , :

; Loudon Packing .........eieee §% ...' | Fenn Ry 3%s 70 eenes 1 i soveses m ; : OBIE + reesnssarerss Siktatcan. ton. 136. 22 sersian seed- | MI. Bean, in notifying members of | Musk Motor 8p “A” ana 25 : : less, per 3 06, 43.8 80. Eeacher_Gedteis the organization, stated that the St. Northwest. ves Logik a EE 4 in, bi a hpricots—%- | Paul company had been sold “owing | Pertect Circle . x $2; wd” a Grape Sesto 28-1b. | to circumstances beyond control.” Swift International Vasasesns es : ff

Williams _Oil-O-Matio ... 5.0.0 1 : MELONS—Cantaloupes — flats, . Vorte. “cup erase visnsssge 30 20 u Pac Baltimore American ..... pete Soc Gomeartvn hu 4.003 | SHOWS $738,319 NET Ba an” a i $s 88 Lin i CURR Raley a Termes ES~Beans- paint i singles : | Third Ave Ad) so ‘60. reennasn IBY Eile Movin pis 5 RIS: pares oz., 450. Times Special New York Curb 13 Rubber = Sa sesesene 198 te Hibover ar Saas 117

Ti ets oi NEW YORK, Aug. 15.—Net pro- (By Atkins, Hamill & Gates) ravenna Home INSUTANCS .....cseseves yh do; he fits of Standard Products Co. and 12 | National City rene 8" i: {predecessor companies were $638,- Close. 1 Clore: % | North River .... 88 Ch rae a Rabe he ae 7

INDIANAPOLIS

Tid 108° No. oa ey October tH F No 3} ha $1.%a1 0. Sen=—fee 1

§ {

Postal Tel & Cab 5s "52 tee. Sh 3344 | Nations winnie, 1 Tia 7. Shell Union -Oil 3%s 3. reves. O a : INS : ’ Other Livestock

ig Aetna Fire Insurance

. B3 American Ins of Newark .... 18 (By United Press)

EE RS

t steady

Farana ba

sp Receipts,

RY y jn FH

ht o

Feta ao

ssssessnes

EARESESS SH, Reds ss 8

Y & T 4s 1 Youngstn i & T 3%s ’51.....12¢ FOREIGN : Argentina A 6s oy-irvesqrerens 101

sue cessssessell

Australia mark, 4728 55. °85..cii000cees 99 German -5%s °65.. ‘29%

319 for the fiscal year ended June i 48 U 8 Pire ravetsrears | 30, J. 8. Reid, president, announced saaeye ‘Westchester Fire .... cones | today. This was after all charges EE, and reserves, including provision for Cob- | Federal taxes, and was equivalent to $2.46 a share on 300,000 shares of common stock outstanding.

Busigraphs

TREND OF ‘FACTORY PAYROLLS (u.s. perTy OF LABOR)

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FFFERES

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Building Permits :

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