Indianapolis Times, Indianapolis, Marion County, 17 August 1936 — Page 11

rend

month and of 82,000 compared with one year ago,

Questions Value of Mass Production in All Lines.

see BY JOHN T. FLYNN ed

YORK, Aug. 17—A former member of the Federal Trade Commission says that one effect of the Robinson-Patman Act will be to halt the development of mass production in America and create smaller, localized industries near large centers. The Rob-inson-Patman law is that one passed by the last Congress aimed at the chain stores. Of course this may be an extreme view. But it is en-

that business may ) the

re whole question of mass pPpro-. duction to which it has been devoted for two decades. In fact it became a kind of religion that mass production alone could bring to our people the bundance they demanded. Mr. Ford wanted to introd it on the farm years ago and he recently revived that idea, He once said that 25,000 farmers could

provide America with all the foog~

she needed.

ss 8 = v Wie phe depression came

along & new cult became

popular and threatening over night. It was technocracy. It declared that we had only scratched the surface of mass production; that mass production operated by an oligarchy of engineers could produce the equivalent of. $25,000 for each American worker, It is probably not widely known, however, that for a number of years a controversy has been going on among industrial engineers which might be entitled *“Mass

Production vs. Scientific Manage-~ -

ment.” A very large and very important school of engineers insist that mass production can be carried to a point where scientific management becomes difficult, They contend that in our system, smaller units operated in accordance with strict scientific management can out-produce mass production and at better qualities and prices. 2 tJ ”

. YT is entirely possible that this is not entirely true in certain very heavy industries, like automobile and railroad equipment manufacture. But no one can read the discussions on this subject without feeling that there is much to be said on both sides in the smaller consumption goods industries.

In fact there is good ground for believing that much so-called mass production is not mass production save in a limited way. One hears of a great corporation with factories all over the world. But on examining it you perceive that many, if not most of these factories are moderate sized producing units and that there is little connection between them; indeed that the great corporation which looks so big is really a combination of a large number of small plants each in a different industry.

_ » ” 2 E have come to worship bigness in this country. We always suppose that an industry is efficient if it is big. That we may have carried the notion too far is now coming - to be suggested in many quarters. One hears already of the breakup of large merchandising chains. This, of course, does not mean that chains ought to go, but that a chain need not necessarily have 5000 or 1000 stores to be efficient. Maybe all the benefits of scientific merchandising can be obtained in small chains. Perhaps we are to see some novel experiments along the whole front of our economic life. (Copyright, 1936, NEA Service, Inc.)

Fruits and Vegetables

(Quotations below, subject to change are average wholesale prices being offer to buyers by local commission dealers.) FRUITS—Pears—Bartletts, box, $3. Bananas—Selected, 1b., 43i¢c. Apples—Transarents, fancy, $1.75; choice, Duchess, 2% n. .50; No. 1 Virginia Winesaps, 3% in., $1.75. Lemons—sSunkist 260c, $7.25. Limes —Mexican, x 2%ac; seedless, per 100, $2.50. saches<-Cleorel Elbertas, 2% in., bu., $3. Apricots—15-lb. lug, $1.65. Plums—Blue, 3-basket crate, $2; yellow, $1.50. Grapes—Seedless, 28-lb. crate, $2. } . _ MELONS—Cantaloupes—Home-grown, =H. Bs, No. 1s, bu., $1.25; home-grown, H. B.s, No. 2s, bu. 30-1b. av. 3 . VEGETABLES—Beans—Round stringless, 2. Beets—Home-grown, doz.

doz. . ¢. _Kale—Homebu., T5¢c. Lettuce—Iceberg, Calii. 35 pit, home-grown, =I 25. s—Mangoes, homePheck basket, bc

rown. bu., $1.25; v : doz, 3. 3) 9500 ions" California

s s ets, $1. Sage— .» 45¢. Turnips—New, bulk, bu, of 50. Tomatoes—Home-grown, io-In. basket, 40c. (By United Press)

CHICAGO, Aug. 17.—Apples—Duchess, t Potatoes—

Mich., bu. Alabam

50. er y—Mi an, @60c. Onion mark: 50-1b. ' . on ark ( sacks), Michi

Produce Markets

$85c. Watermelons—Missouri, |

SPOTSINSTATE

SUFFER LOSSES,

Drought Reported to Have Little Effect on Credit . in Indiana.

Credit conditions in Indiana as a whole remained virtually unchanged last week, Dun & Bradstreet re-

nationwidé& survey of the effects the

lections and business conditions in the distressed regions. There have been substantial crop losses to individuals in some localities in Indiana, said, “but spotted rains and cooler

the total farm income. For the state as a whole, credit conditions were unchanged.”

Threatens Fall Trade

- The momentum of brisk July business sustained trade in principal cities of the Great Plains drought area, the survey showed. The drought had not yet exerted a serious deterrent effect on the volume of trade, it was learned, but a threat to fall business was indicated. Farm income was expected to be most severely reduced in Montana, Wyoming, North and South Dakota, Nebraska, Kansas, Iowa, Missouri and Oklahoma. States in the East North Central area, which includes Indiana, were

turns had diminished. In the South generally, crop conditions and price levels promised greater revenue than last year.

PICKUP ANTICIPATED IN AUTO FACTORIES

Times Special, DETROIT, Aug. 17.—Production schedules of the automotive industry are to be placed at a high level in preparing for néw car announcements, and indications are that factories will continue their increased

Ward's Automotive Reports said today. A marked increase in steel and accessory commitments compared with estimates made before production began on 1936 cars, justified the optimistic expectations of the industry, Wards stated. Much of the industry has been closed down,

of cars on hand, a car shortage is anticipated at show time which will keep factories at volume production

declined sharply, due primarily to a one-week shutdown at the Ford Motor Co. Output was estimated at 55,329 units, compared with 84,153 in’ the previous: week. In the same period of 1935 output approximated 60,470.

HARDWARE SALES UP

Times Special NEW YORK, Aug. 17.—Continued improved conditions in the hardware trade resulted in a 10 per cent gain in July sales over the corresponding period of 1935, Hardware

mary. Trade was undisturbed by weather conditions, and wholesalers in most localities reported increased sales. Summer supplies were reported scarce in many sections-where quality merchandise having a strictly price appeal was in big demand. An

some factories from four to six weeks behind in production, the survey showed.

tric washers totaled 151,049, the third greatest month in the indus-

“SURVEY SHOWS =

Cru ported today after completing a M d

drought has had on credit and col- v

found hopeful of escaping from re-| is ductions in total farm income, and | pari even the threat to individual re-|!

activity for the balance of the year,

and, with only a four weeks’ supply |s

until at least the end. of the year.| Amer ILoc Production during the latest week | ggjq

10 PER CENT IN JULY}

Age said today in its market sum-|U

increased demand for bicycles kept | Gillett Glidden

June shipments of household elec- | 3

MONDAY, AUGUST 17, 1936

New York Stocks

SEIS

bet 4} bSS

Nua SENER

Foun

Youngstn 8 & T. 76%

uburn the report Shn

weather have improved the crop Huds situation. The current threat is to | Mac dividual returns rather than to |Nash

‘Studebaker Yellow Truck -..

Motor Access— Pendix Boh

Bat. . Greyhound “B”. 58 Houdaille Murra

Timken Roll Timken Det Mining— Alaska Jun ....

.... 63% Axle 212

. 14% 33% 87% 40%

12 527% 5112 . 12 53% . 25%

3t cee J 8 Smelters .. Vanadium . 24 Amusements— Crosley Radio... heater ... 27 Radio Corp ... Paramount

Warner Bros ... Tobaccos— Am Snuff Am Sum Tob ... Am Tobacco ‘A’. Am Tobacco ‘B’.102 Gen Cigars .....155% Lig & ers ‘B’ 107 Lorillar 22 Philip Morris ... 88% Reynolds Tob ‘IT’ 56 Rails— Atchison Atl Coast Lines.

Can Pacific ... Ch & Ohio

CM& Chi NW

n Ld N Y New Haven 3 Nor Pacific .... 26 Penn R R

Equipments—

Am Brake Shoe..

58 Am Car & Fdy.. 43% . o

Br.... 43% Westingh Elec ..1413% Utilities— Am & For Pwr.. 1% Am Power & Lit 13 Am Wat Wks ... 25% Col Gas & Elec.. Com & Sou

140%

T&T Nat Pwr & Lit. North Amer ... G & E .. Std Gas Stone & Webster United Corp ... Un Gas mp. “er Ut Pwr & Lt A Western Union.

8 Rubber I .. U 8 Rubber pfd

Miscellaneous—

Allis Chalmers... Anchor Cap ... 1 Brklyn Man Tr. Cont] Can 69 Caterpillar Trac! Crown Cork ... 60% Curtis Pub .... 20% Deere & Co .... 75 Bastman Kodak 178 Foster Wheeler. 33% 42% Inter 80Ys 24%

Harv .... Natl Cash Reg .

try’s history. The demand for gar- Gont pak,

den hose and accessories continued strong due to prevailing dry weather.

RAIL EMPLOYMENT UP Times Special WASHINGTON, Aug. 17. — Em-

: | ployment on Class 1 railroads to- |?

taled 1,084,836 persons last month,

rn— | 6.52 per cgnt above the figure for Allis

July, 1935, and an increase of 0.74

per cent over the 1936 June total, K the Interstate Commerce Commis- | Kroge:

sion announced today. LOCAL CASH MARKET

$1.08 for No. 1 red wheat. Other grades on their merits. Cash corn, new No. 3° yellow, $1.04, oats, 35c. Hay—No. 1 timothy, $13.50@15; No. 1 clover [email protected]; No. 1 alfalfa, first cutting, $14.50@15; second cut-

| ting, $16@17.

Busigraphs

FIRE LOSSES AN THE UNITED STATES

City grain elevators are paying | Pe

n Am Sug. Gen Baking .... Foods

McCrory 8t ...,. 1 McLellan St ... 1 Marshall Field.. Dept St....

FBRSSgasavRIaNL

*®

Aviation— Aviation Corp .. Boei Aircraft.

Investment Trusts

(By Thomas D. Sheerin & Co.)

Technicolor Tubize Chatillon

Adsense veseNeR RRR ERY a Chemical Sh CessssdssssenvIENTes 2.13 | Continental rreeessannisnennes off ty .. ies

ti g i

i 98 re

313%, 26%

"N.Y. Bonds

{Reprinted From Late Times Saturday) DAILY BOND INDEX : (1926 Average Equals 100)

20 20 ; A Rails Util Today . 95.7 105.8 Yesterday 95.8 105.8 Week 2 106.5 Month Ago .... 91. 3 106.1 1936 High 4 963 1083 1936 Low 90.0 (Copyright, 1936,

'U. 8. GOVERNMENT ‘BONDS (By Abbott, Proctor & Paine)

Prev. Close close Treasurys -

1931-34 + rorisens Home Owners Loan Corp.

DOMESTIC

Alleg Corp 5s '44 Alleg Corp 5s ‘49

C Atl Coast Line 4s ’'52 Atl Coas$ Line 4'as '64 Am Wat W ’

m Wa Ss Am Rolling Mills Balt & Ohio 5s 2000

Grt Northern “H’ 4s '46 Grt Northern 42s 77 Gen Stl Cast WW 5's 49 ... Hud & Man! ves

Ill Cent 55-63 nterboro Rapid Trans 55 '66 .. 94% nterntl Tel & Lehigh Valley 4s 2003 McKess & b 5's '50 Natl Dairy 3%s °’51 Nickel Plate 4%zs 78 Nigel jas 52s ‘14

Pac G & E 5s 42 Portland Gen Hl 4%s ‘60 .... Para Publix 6s ’55 Postal 5 Cab 5s Shell Unio? Oil 3'2s Socony Vac 3%28 '50 ....ece0eee 10 41,8 68 ceceue

‘Warner Bros 6s '39...cc.c000 oe West Union 5s °60... : Youngstn 8 & T 4s 61 Youngstn 8 & T 3%s 51

FOREIGN

3 Argentina A 8s 57

Australia 428 '56...cc.00.00.. 103 3 *55 29

Yas

man 7s ie Italy 7s '51 .... Rome 6's ’52 Tokio City §'%s ‘61

Chicago Stocks

Prev. 11 am, Close

New York Curb

(By Atkins, Hamill & Gates).

11A Aluminum Co of America , Cyanamid “B”

=F 8

Air Chute Ear Me of Amer % Niagara Hudson Pwr re

St Paper CO ...eocessee

essnvecasse ssvessns

sssvessansssnne cessenee 3 Corp assesses EE

‘A

EE a

(By Blyth & Co) Bankers Trust © senda ett 70% Central Hanover

ssessns ess +198

28)

CHOICE SWINE AT CITY YARDS

Market Unevenly Steady to 15 Cents Higher on 200 ~. to 300-Pounders.

became a

best since Sept. 28, 1935. that date a few premium sales were made up to $12.15. The market was unevenly steady to 15 cents higher, weights from 200 to 300 pounds showing the most up-

Bulk at $10.85 to $11.70

The bulk of sales were in the 160 to 180 pound division with prices averaging $10.85 to $11.70. Weights between 180 and 250 brought $11.60 to $11.95 with a top of $12. Swine scaling 250 to 290 sold for $11.30 to $11.80, those averaging 130 to 160 were disposed of for $10.10 to $10.85, and the 100 to 130 pounders were salable at $9.60 to $10.35. Packing

1 | sows brought $8.75 to $10 with some 3 | sales as high as $1025. ‘

. Arrivals at the local yards were estimated at 4000 hogs, with 169 holdovers; 1700 cattle, 700 calves and 1000 sheep. : ‘Fed steers and yearlings were steady to strong. The early steer top was $9.25. Fed kinds were mostly $8.25 to $9. Heifers were steady, the top being $8.60 and

104.39 | hers bringing mostly $5 to $7.

Veals Drop 50 Cents

Cows were steady, beef cows selling between $4.25 and $5.25 with cutter grades averaging $3.25 to $4. Vealers declined 50 cents from Friday's average. The bulk of better veals sold between $7 and $8. A few top choice brought $8.50. Lambs were steady to strong, the bulk of good to choice ewe and wether lambs bringing $8.50 to $9.50. A few strictly choice late sales were made at $9.75. Slaughter sheep were steady, fat ewes selling for $2.25 to $2.75 with a tap of $3.

HOGS

Bulk [email protected] [email protected]

14, 15. 11. Light Lights— 1.15

. [email protected] [email protected] . [email protected] [email protected] Medium Weights—

(200-220) Good and (220-250) Good and

Heavyweights—

(250-290) Good and (290-350) Good and

Packing Sows— (275-350) Good (350-425) Good (425-450) Good (275-350) Mediu Slaughter Pigs—

[email protected]

choice. . [email protected]

choice. . cholce .e choice. .

8s 63 ©3903 88 Be

It oD

85 wows a3 ZR3%

CATTLE

i —Receipts, 1700— (550-900) Choice ..:cec..... $ Good

: Ci (900-1100)

C (1100-1300) Go!

M (1300)

POINORINOD-IPD

ggg ZRaghvughkaak

(550-750)

Common, medium. Good and choice. . Common, medium. 2

09993 093; Qoano

(750-900)

Good Common and medium oy cutter and cutter s, good Cutter, com. and med. bulk... Vealers —Vealers, 700—

Soma 2x38

Cull and common oie chesney ves (250-500) Good and choice. ..$ 8.50 Com. and medium: 4.00 Feeder and Stocker Cattle

(500-800) Com. and choice..$ 6.00 Com. and medium. 4. (800-1050) Good and.choice..

23 on aa 38 3% 333

D-II;

222 3

8. . and medium. 4. Cows.

9 8999 6d

un sa on re an

8 8388 ed ©3939 Ne ano 38 3383

(90-170) Good and choice.. Com. and medium. Effective July 1, spring lambs as lambs. :

Other Livestock

(By United Press)

CHICAGO, 12,000, including 2500. 15 to 25 cents . iS up mare

00 ao

on (Sheep and lamb otations on elipped basis.) P “ :

PAGEL

stitute.

= PROGRESS OF GENERAL BUSINESS sm

COMPOSIT BUSINESS ACTMITY INDEX : END OF Jury

Ud orn cont SLOW ORM, coma wirn 24.9 4 YEAR ACO

THe

{HITHER =

on HoAMAL 0 ad =30 a0 0

BL 48

Ie [ws [ws

TNE PARKER CORPORATION GENERAL DISTRIBUTORS

INCORPORATED INVESTORS

tric power output, automobile car loadings increased about the same, continuing the end of June.

Again, for the fourth consecutive month general business activity ended the month at a higher rate than in the preceding month, in spite of the severe drought. During July the index reached the highest point since the beginning recovery. Adjusted for seasonal variations elecproduction, lumber production; and freight during the month. Steel mill activity remained. through July the high rate maintained at

The securities market also gave a good aécount of itself. The DowJones industrials gained seven points, while the rail and utility averages also jumped upward. The Dow-Jones average of 40 bonds increased

more than a point. Commodity prices went up about 2 per cent.

CATTLE GRAZING

GAINS IN STATE

Number on Feed in Indiana Found 10 Per Cent Above Year Ago.

Indiana cattle raisers contributed a 10 per cent increase in the number of cattle on feed for market in the corn belt states on Aug. 1, compared with the number being grazed at the same time last year, the United States Department of Agriculture estimated today.

About 3 per cent more cattle were being raised for market in the corn ‘belt as a whole than a year ago, the survey showed. This was a sharp decline from the 41 per cent increase estimated on April 1. Gains were listed for all states east ‘of the Mississippi river, while all other states with the exception of Minnesota and Iowa, reported decreases. Reports from cattle feeders concerning the weights at which cattle would be marketed, showed a little larger proportion of cattle under 1100 pounds than was reported last year in August, but smaller than the proportion reported in the three years prior to 1935. A much smaller number of stocker and feeder cattle are expected to

2 | be purchased during the remaining

five months of 1936 than were

0 bought during the corresponding

period of 1935, reports from feeders indicated. A drop of 30 per cent. was estimated for the entire corn belt, with the largest decreases anticipated in states west of the Missouri river, where effects of the drought were felt most severely. The movement of stock cattle, which was large in July, was expected to continue heavy for the remainder of the year, but this movement was anticipated to be largely. of cattle to be grazed and roughed through the winter, rather than for immediate grain feeding.

New Bond Issues (By Lyons & Co.)

Arkansas Gas 4s °'51........ .-.100%

ral & C “H” 31s '96 icago West In 4%s Chicago Union Sta 3'%s ’51.... Cleveland Tractor 5s ’45....... Columbus Railway 4s ’65 Com Invest Trust 32s Conn River PrD & L Consolidated Oil 32s

102 105% 97%

s 1 [Indianapolis Water 3's ’66 ..101 [owa South Utilities 5's °50..105 Kansas P L 4izs ’65 Los Angeles G & E 4s '70 10 Louisville & Nash 3%s 2003.... cCrory. Stores 5s etro Ed 4s ’65 in Gas & E Dr 4Y%s '60 [onon W Dr 4'2s '60 103% NY St Louis 4s ’46......101 Niagara Falls Power New York Ed 3%s

| Okla Natural Gas 4's '61

Okla Natural Gas 5s '46 Pacific Lite 4%s ’'45

San Diego G & Southern Cal Gas 4s '65 Southern Kraft 4%s ’46 Southern Pacific 3%s ’46 . 50 West G B 45 ’60. ........... 1035 Union Pacific. 3%s 71 99 Wisconsin Gus & Fico 814s 58 10300 isconsin Gas ec s 103 104 Wisconsin Pwr & Lt 9 ie Wisconsin Pub Serv 4s '61 104

: j «ia Local Securities ' (By Indianapolis Bond and Share Corp.) Totaons fe Sot Se Sina

inquiries or recent

‘Bid

Ves 81.1080 108° Ss ‘44

104

Indpls Aug. 17. — Hogs — Receipts — | Kokomo

4° Sg?

4 £ me

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STOCK MARKET "WEEK IN REVIEW

. BY ELMER C. WALZER United Press Financial Editor

NEW YORK, Aug. 17.—The stock market advanced into new high ground since 1931 early last week and then encountered sufficient profit-taking to send the list below last Saturday’s closing levels. Trading was sufficiently light to allay apprehension on the part of traders. No group was spared in the decline.. Losses were noted on the week in rails, steels, can stocks, motors, utilities, airplane issues and chemicals. Copper and some amusement shares held part of substantial gains. Reasons. for the recession were mostly technical. The market had had a long rise and many traders thought it was entitled to a setback. As a result they were cautious about making new commitments and ready to sell the instant the market hesitated.

Evidences of Letdown Seen

News from the business world was still ‘very favorable although there was evidence of a summer letdown in many lines. Building contracted sharply and was under a year ago for the week. Carloadings declined 19,258 cars for the week with the largest loss in coal load-

ings. Automobile production slumped to 56,679 units, according to Cram’s. Retail trade dipped somewhat because of inability to obtain deliveries in some lines but still was 12 to 15 per cent above a year ago. Wholesale trade made a better showing with gains ranging from 20 to 30 per cent over the corresponding period of 1935. - Dividends Resumed Dividend news made good reading. Texas & Pacific paid on its preferred for the first time since 1932. Sloss Sheffield resumed on its preferred Federated Department Stores declared ‘a special dividend and raised the regular. American Radiator and American Water Works resumed. Johns Manville declared

X. | an extra. 8

Copper metal was in demand here

= and abroad. The export price

equaled the domestic of 9.75 cents a pound and it was believed the price soon would pe boosted to 10 cents. Copper stocks made new

7 | highs at broad gains and closed the f week higher,

Other Livestock

(By Times Special)

LOUISVILLE, Aug, 17.—Cattle—Receipts 1000; salable supply moderate; aaality rather plain, demand only opening about steady on sla and heifers: few early salot beef weak to 25c lower: sausage bulls steady; bulk common to m heifers, $.00@7: e , lot: desirablz ig 23; early bulk bee . [email protected]; low cutters and cutt 3@4; sausage bulls, $5.25; odd head best kinds to $5.50; stockers and { w. about steady; bulk ‘natives, [email protected]; most southerns bho RR eg ves; vealer marke established: early indications weak to lower; 3 to. choice vealers last

Frida er hogs, Friday and 80-

y. ass trict] hoi h 58 ¥ $6; market 15c higher than 0 for batter 50-1b, 0; 305 lbs. up,

Saturday; top. $11. weights; -300 » $11.1 $16.18: Sows. $0.00 Shere: Racist, 210; neiuding 700 stock ewes: lamb market not established: no early bids: r ewe and wether lambs 70 lbs. Priday, Gattle, calves,

* Money and Exchange

* INDIANAPOLIS STATEMENT

WASHINGTON, Aug. 17.—Government expenses and receipts for m year to Aug. 14, compared with

ago: This Year 1,249.33 $1,032,270,687.69 1933 23 3 288.708 003.89

565,562,081.80

Notice to Holders of Indianapolis - Water Company and Mo, Geld Sven ta” hoigers Bonds, that Indian

First

above

| apolis Water Company has called same for

payment on 1,

1937, and

{Trust

KSON-EWERT, INC.

“2

fair; market |

la 4 [email protected]. i WE aR | : e, none; ; hogs, none; ‘s , 258.

Clearings .......... $2,568, 3, nnn eee

highest level in history, according to Iron and Steel

“POOR BUSINES

SPOTS SCA MAGAZINE SA

|Rise in Cost of Living §

as Factor in Quest for Higher Pay.

Times Special NEW YORK, Aug. 17—So spread has been industrial this year that poor spots defy detection, Business Week today. It is true, the magazine co tinued, that crop estimators ha confirmed the serious situation im drought states, that emerge:

counties have been added to month’s high total, but there is indication that merchants feel b ing power has been hopelessly ob erated. ; Farm implement makers were found to have relaxed their pace somewhat, but were said to be oper= ating at virtually the 1929 rate, Wide areas were not blighted by the drought, the magazine said. Farr ers were therefore expected to reap the benefits of higher prices in those states. Southwestern railroads wi reported preparing for good shi ments of farm crops from the cific Coast.

‘Business Index Gains

The magazine's weekly index of business activity stood at 782 the latest week, compared with 7%

for the preceding week, 75.6 month before, and 65.7 a year ag “Food prices already are pushing upward,” the article said, “and the industrial wage earner sees his pay envelope stretching less far than he would wish. Rising living costs are likely to reinforce the quest for higher wages, and increase indus= trial unrest. Increased industrial earnings are putting employers better position to meet such ree quests. ;

Employment Holds Up

“Judging from the employme records of New York state, who trends usually parallel those of the nation, both employment and p rolls in July were able to hold cle to if not exceed the recovery set in June. Because railroad traf fic has steadily increased, additioi workers were added by the roads July bringing employment to a high sinee early 1932. “From wholesale markets co the news that buyers on hand year have broken records. Even reps resentatives from the worst droughi states seem not overcome with glog concerning their markets. Retail sales in July exceeded ekpectation, and merchants | counting on boosting sales in last quarter at least 10 to 15 cent above those of last year. J department store sales jumped per cent ahead of a year ago. “Steel output in the second @q ter was the best since 1929, and was without parallel for July 1929. In fact, production in the: seven months of 1936 has the entire year 1931, 1932, or

INDIANA MERCHANTS REPORT TRADE GAINS

Retail sales by independent sto: in Indiana during the first months of this year were 18 cent greater than in the same riod of 1935, the Departmen Commerce reported today afler J ceiving statistics from 268 stor the state. The increase in Indiana W slightly larger than it was in el Illinois or Wisconsin, With 1! merchants from the three states 1 porting, the gain over last year shown to be 16 per cent in three-state area. Automobile dealers, with an crease of 40 per cent, experie the best improvement. Lumber building material businesses g 26 per cent and hardware de 17 per cent.

pCO

CHICAGO GRAIN FUTURES (By James E. Bennett & Co.) :00

Tireaer HM

t.. Snes ssre 1.08% Rl ere 100 91%

DeC. coessios. May BREMEN y