Indianapolis Times, Indianapolis, Marion County, 18 August 1936 — Page 9
_quickened n
point.
; 1b sacks): px ia whites, a
Points Out Flaw in’ Coughlin’s Money
JOHN T.FL
TEW YORK, Aug. 17.—Father Coughlin and Mr. Lemke, rounding their Union Party shape, believe that our les could be ended or at least tly softened if the amount of ney issued by the government
greater. : Hence they favor paying off mers’ mortgages with Reserve Bank or Central Bank notes. They favor paying soldiers’ bonuses, gov - ernment charges with newly issued. currency. “Of course if the government were to issue money and pay government employes or farmers or soldiers, there is no doubt t his would put purchasing power would circulate around and for a brief period stim‘ulate business. Things would be because new money had been issued, but because new purchasing power had been put into workers’ hands. i = » » HIS is the important thing to remember. What our business society needs is not mohey, cash,
* currency, but purchasing power in
the hands of the people with whic to buy what we produce. Once you concede this then you must concede another important We must have not merely fresh purchasing power now but - eontinuing supplies of fresh purchasing power. Therefore, if Fathern Coughlin and the Lemkeites are correct, we must not cnly
- §ssue new money now, but we must
keep on doing it and in that fact lies the danger of the whole scheme. If the government were to put out a supply of new currency now we would have, as I have said, a stimulation of business. But that would last only for a little while, ‘when there would be a demand for new stimulation in the same way. This would go on and as fresh supplies of money were issued, after a while we would begin to notice that the new supplies had
ceased to stimulate anything but
prices. ” ” » N other words, at first business men might well speed up their plants to produce more goods because there would be more purchasing power to buy the goods, but as long as this tendency for prices to increase continued, no man would lend any money because he would be sure that the dollars he loaned would be repaid in less valuable ones.’ As a result of this, all the heavy industries, which depend on borrowed funds, would dry up. . This would increase unemployment and call for still heavier ~ issues of money to pay the unemployed and would bring about another rise in prices. As prices went on rising one industry after another would drop out of produc- ~ tion. The industries with the longest lag between the first productive processes and the final consumer sale would be the first to go because they are most dependent on credit. The final result would
-* be collapse.
Father Coughlin thinks he can prevent all this by devices for keeping prices stable. But with a money machine like this at work he might as well try to control the tides, (Copyright{ 1936, NEA Service, Inc.) ye roe eee
Fruits and Vegetables
uotations below, subject to change, Rr wholesale prices being offered to) bu br VY local commission dealers.) RUITS —Pears_Bartleits, box, $3. Bane otra Ps 4%ec, Apple s—Transarents, fancy, $1. 75; choice, Duchess, 2% No. 1 Virginia Winesaps 8, y 2 In, 60cC, ens Sun 2 Tr
oR carton, 12s seedless, per 100, $2.50. Peaches—Geor iy Flbertas, 3% in., bu., $3. Apricots—15lug, es Plums—Blue, 3-basket Ey $2; yellow, $1.50. Grapes—Seedless, 28-1b. crate, $2. MELONS—Cantaloupes—Home-grown, H. Re No, 1s, bu., $1.25; home-grown, H. B.s, 2s. bu., $85c. Watermelons—Missouri, So 1b. av., “B06.
VEGETABLES—Beans—Round stringless, am mper, Beets—Home-grown, doz., 30c. Carrots—Ohio, doz., 45c. Cauli ower —Colorado, 12s, crate, $2.25. Celery— Michigan washed and trimmed, doz. Cucumbers—Illinois, doz., 45c. =O! 13% 25¢, Kale—HomeB., etiaco—ICeDerE. Calior home-grown, 15-1b. Peppers—Man k bask
int—Doz. O! eliow, 50-1b. bag, $1.25. ro 40c.
orn— Home-grown,
Parsley—Homewn, doz. Peas—Western Tel, amper, $2.10. blers, 100-1b. bag, $3. Swe lsbama Triumphs. bu., $1
A Ohio Doz., 45c. Turnips—New Tomatoes—Home-grown,
I EW Radishes— v Sa %0. bulk, bu., $1. io-1b. basket, doo.
a
(By United Press) CHICAGO. Aug. 18.—Apples—Duchess, Mich an. bushel 25@90c. Sweet potatces ae aan. SN Bin Sarrols: ats s. 1% Cal nois crates. $1@1l. Spinach-M 0
are crates, $1. Y. Michisan yellows, 85¢; Cali-
Produce Markets
rices quoted: are id for stock Ad the country. while Yeliverad
ol the price is a cent er.) Hea breed hens ho
bs. | Pub Serv of Ind pfd 7s
il ft Sh inder. 8 1 la¢; No. 3, 3332 @36%ec.
United Press) AGO. 18 —Eggs—Market un0 51813 cases; fresh “hoe; extra firsts, 23%c; dirties, 18¢; t receipts, 21c; checks, 17¢ Ls tue market ; firsts, 32% @32%c; ta 34c.
> demand alow; eral” de bg, dane
Potatoes— Virginia Cob.
STATE BANKERS
TO TOUR WEST IN SEPTEMBER
Hinerary Peak, Yosemite and Texas Exposition.
Arrangements have been made for a party of Indiana bank execu-
tives to travel to San Francisco by special train for the annual American Bankers Association convention, Don E. Warrick, Indiana Bankers Associatign secretary, announced today. je convention is to be held Sept. 21 to 24. The Hoosier delegation is to be headed by C. B. Enloe, Evansville, president of the state organization. Although reservations have just begun to arrive at Mr. Warrick’s office in the Union Tittle Building, he said indications are that an eightcar train with a capacity of 75 persons will be necessary. Departs Sept. 15
The Indiana “Golden Gate Special” is to be composed largely of cars with drawing rooms and compartments. It is scheduled to leave Indianapolis at 6 p. m. Sept. 15. The itinerary has been planned with sightseeing opportunities as one of the chief considerations, Mr. Warrick said. Mr. and Mrs. Vernon Hinkle, Indianapolis, are to conduct the party through the interesting parks and cities that are to be visited. The Indiana special is to go to St.
Springs. A 27-hour stop is to be made-in the latter city during which Pike's Peak is to be ascended. A half day is to be spent in Salt Lake City and a few hours is allotted to Reno. Trip Ends Oct. 4 The train is to arrive in San Francisco Sept. 20 and the return trip begins the night of Sept. 24. One day is to be devoted to Yosemite Valley and a 3-day stop is sheduled for Los Angeles. One day is allowed for both Boulder Dam and the Grand Canyon. The party is to visit the Texas Centennial celebration in Dallas for two days and the Fron-
half a day. Oct. 4. While other specials are to be run for bankers from New York, Chi-
The journey ends here
executives from outside Indiana have accepted the general invitation to travel with the Hoosier party, Mr. Warrick said. Among these are the treasurer of General Motors Corp, M. L. Prentis and wife, of Detroit.
New Bond Issues
(By Lyons & Co.) Arkansas Gas 4s ’'51 Associated Teleprone 4s "Ne B & O 4%s. ’3 3 Cal Oregon Power 4s 66 Central Maine 4s £0 ‘ew
Chicago West 3n 2}. 3 Chicago bib Sta Vas, 51 1037s Cleveland Tractor 5s ’ Columbus Tailway 4s 0 Com Invest Trust 3%s '5 .103 Conn River LP a Lb $s 61.105% Consolidated Oil 3 51 .... 973% Cudahy Pig 3%s ie Cudahy Pkg 4s ’50 Edison Illum 3%s ’66 Indianapolis Water 3's Iowa South Utilities [i '50 © Kansas P L 4 '65 Los Angeles G8 B 4s moll Louisville & Nash 3%s 2003. . McCrory Store ’51
107 101% 109% 106%
963%, 103%2
2 seas Narraganset Elec 3s 66 .... N Y Chi St Louis 4s '46 1 Niagara Falls Power 32s ’56 .105% New York Ed 3'%s '66 10
P Penn Rairoag 3%s 70 Penn Tel 4s '65 . veel Potomac El Power 34s 66 .. Pub Serv N H 4%s 1057 Railway Lite ahs ’65 Sagueney Power vez 58 San Diego G & E 4 Southern Cal Gas a 0 Southern Kraft 4%s '46 Southern Pacifle 33%s '46 So West G B 4s ’60 Wisconsin Gas = Hee Jas 56 103% Wisconsin Pwr & Lt 4s ’66 ... 99% Wisconsin Pub Serv is "61 ...104%
Local Securities
(By Indianapolis Bond and Share Corp.)
The following quotations do not represent actual bids or offerings, but merely indicate the aproximate mar et level based on buying and selling inquiries or recent transactions. BONDS
Citz Ind Tel (T H) 4%s '61 ..102 H Tel Tel Rt W 5's 44 .... 104 H Tel & Tel Ft W 6s 43 ....104 ndpls Rail Inc 5s ’'67 . ey
102%
10008
Bid
Interstate Tel & Tel 5%s Kokomo Water Works 5s Morris 5 & 10 Stores 5s Muncie Water Works, 58
Indpls Water Co 3'%s ‘66
STOCKS A B C Brewing Co co Belt Rail S Y com
“pd 65 93% d 6's 98%
3 551, South Ind Gas & Elec ptd 6s ag”
nln. Title Co *Ex-dividend.
a * * * Building Permits Madison - Ernest Reine N. Br Jun % 35. “Mr. Miller, 1119 x be Jor Ju pen, repr, pe, A. RH. 1 Neidinbergen, 949 Sanders-st,.ga-Reichy, zo%0 Broadway, alteration
and
Hooks! Drug Co. Ritter and Weshisiytiie 7S dec Meme 1230 Sterling. repairs,
at Ses Gujer, 2440 Yandes-st, electriGuy Justus, 1214 N. Riley-st, electrical,
calSrgeod Townaene, 1120 Taber elder
4
Includes Pike's | Sie:
1, | Gen
FREER
SaNSERLN NES
FEO
aR2RNB
28 =
U © Steel .. U 8 Steel pfd.. Warren Bros Youngstown 8-T TV
Fel nS
Gen Motqrs .... Graham Mot ... dson 1
€0 Studebaker Yellow Truck ..
Motor Access— Bendix
633 Timken Det Axle 21%
Mining—
Alaska Jun Am Metals Am Smelt Anaconda Cal & Hecla .... Cerro De Pasco Howe Sound ...
. 14) 3342
Louis, Kansas City ‘and Colorado | Ins Copper
Isl Creek Coal .. Melntyre Mine. .
Park Phelps Dodie i U 8 Smelters.. Vanadium
Amusements...
Radio Cory Paramoun RKO .. Warner Bros ... Am Sum Tob ... Am Tobacco ‘B’.102 Gen Cigars . Lorillard ....... Philip Morris .. 88% Reynolds Tob ‘B’ 557% Rails— Atchison 822 sa Coast Lines. 31% BP &O 1%,
tier Days fair in Fort Worth for |g x % 3 2
pfd 2 Gt © Northern pfd 40% I Faral 4 KO
cago and elsewhere, a number of [Lou & N
Union Pac Ll il139Y West Maryland... 93% Equipments-— « Am Car & Fdy. 427 9%
! iis 38% Westingh Hee ‘140 Utilities— Am & For Pwr. . Am Power & Lit. 13% AT&T .. .....1713% Am Wat Wks. . Col Gas & Elec. 2 Comm & Sou ... Consol Gas .... Elec Pwr & Lit. nt Hydro ee. . Int T & T . Se
Lou G &
Western Union. Rubbers— Firestone Sooench oodeenr U 8 Rubber .... 30 U 8 Rubber .pfd 74% Miscellaneous—
Allis cohalmers., 54% Am .121 A Tap 18 Brklyn Man Tr: 33% Burroughs Add 21 Ya Contl Caterpillar Si
Crown Cor ; os K
& a
. 24 .:182 Ya Underwood E.. .
Foods— Armour .
Crm of Wheat . Sere Cuban Am Sugar 103, en Foods
Retail Stores—
Allied Stores ... 13% Assd Dry Goods. 18% First Natl Stores 46% G! B oo 17%
McCrory St .... McLellan St ....
U nlisted Stocks
(By Blyth & Co.). NEW YORK STOCKS
Bankers Trust at J. Chase:
mical ER Contieanai “satesavesnvaces se: 148 guaranty. Ee aw Bs nnnten 354 vin ¥ : Manufacturers . ue
City of "New York
American Insurance. Great American Insurance. .... 27 Hanover ............ aves vmee
sass s sss uns
semsessasasna
Westchester Fire awaeess
A,
9% | Balt & ohio ss J, %
Ya: Netl Pairy 3 Ss
%| Rom
wd
oy »
i Faliske i
®
PE Salle
‘
-
3 we gn. PREFSEE
uSsus RE
«£338 3
L
ys
g No gus
EE
FRE EE 3
3 EaaYs a FF
23 Snalon tp FEF
-1
1 et
Boal
Foke § Erered FREF bg TEES
a S % 5
+ Sai: 1%.
n$ #F =3
Johman Corn : Building—
Am Radiator ... 22% 22% 23%
N. Y. Bonds (Reprinted Late esterds printed TY NoND ¥ » . (1926 Average Equals 100) 20 20 Rails Util. 95.8 105.8 95.7 105.8 961 1083 94.3 80.4
8 &
06.0 101. :
963 106.2 84.7 103.5
(Copyright, 1936, by Standard Statistics). ;
U. U. GOVERNMENT BONDS (By Abbott, Proctor & Paine.) Treasurys :
3 yn OWNERS. LOAN CORP. 2%5 1949 ..
DOMESTIC
Close. 98Y, 84% 87%2 0%
‘Close. Alleg Corp 5s '44 ....70.co0e0ees 98 Alleg Corp 5s '49 vesrees 94% Alleg Corp 5s '50 sesecees 86%2 Am Frgn Pow 5s 2030 ........ 70% Am Tel & Tel 5'%s ’43 ........114 Am Tel & Tel 5s 65 .........112% Arm & Co (Del) 4s '55 + 98% Atl Coast Line 45 52 ...ovv0e.. 99% Atl Coast Line 4%s ‘64 ..%.... 86% Am Wat Wks 6s '75 eee.100% Am Rolling Mills 4%s 45 ....114 Balt & Ohio 55 200 ......... ee 89%
112%; 98% 98% 87 110 115 89%2 99% -
Balt & Ohia ° Buff Roch Beth Steel is Chi Milw & St P oe "5. Chi Milw & St P 5s 2000... Cleve Un Term 58 '73....c.000. Cleve Un Term 4'2s Mennnes 103% Col Gas 5s May ’52..........104 Col Gas 5s April ’52. I ! 1042 viessesenses 95% reeee.100% .. 94
7 . Grt Northern “G’ 4s ’'46 18% Grt Northern “H” 4s 48..111100%
[11 Cent 3 89% nierboro Rapid Trans 58 198.+ 94%, n Ys
4 nterntl Tel & Tel Vas 39... 86% n Tel & Tel Ss '55 9% nter Tel & Tel 4Yas 52... 14% Lehigh Valley 4s 2003 59% Fh & Rob 5las o Kan Tex Ad] Ss 67 . Natl Stee rer ees 108 Nickel. ate Sia M8 erienene. 92V2 ; Nickel Plate 5%s8 'T4 .ccocce. 102%
Nor Pac 6s 2 047 New Orleans Term 4s '55 4%s "81 .......... . 100%
Penn P 4,8 '81 Postal Tel & Gap. 5
and WW '56 Shell RO Oil 3iks 51 . jocony Vac 3'as
NY NO
B Nestern Mary 5Y%s 'M1.. Nestern Union 5s 0. veal Youngstown S & T 8 foungstown S & T ir tsi: > FOREIGN Argentina (A) 6s °57 Australia 42s °56... razil 8s ’41
CHICAGO GRAIN FUTURES (By James E. Bennett & Co.)
Wheat— -
- pe
s . Lo. | ata . evo» AE a.
5 2% FR
82 oF
8 =
113% |
% 2000. Yearling and 1 Vy unsvenly higher; % weighty steers, steady trade, fairly active
% 86. ses: lo
Advahoe Alumin Aor Brcaminum
hoff ......- aiesneane ie Butler B Cent 111 Pub Cities
seiasssven
sessecansne
Cran General Household. Lincoln Printing . Nachman 8 Nor Zenith
New York Curb
(By Atkins, Hamill & Gates) alk Jose Am Cyanamid ‘B’ .....c.e00.s 35% Am Gas & Electric .......... 44% Am General .........cc000000 9% Am Superpower ..... 2% Ark Natural Gas ‘A’ 5%
Atlas Corp ..... son canasyesns 34V8 Carri ‘
scssenvee we
“evn veevsevas
Elec Bond & Shas Fisk Rubber a
Investinent Trusts (By Thomas D. Sheerin & Co.)
Administered Fund 2nd Affiliated Fund
i
rp AA or Accum {Mod Corp AA or Ace (Us od. 2.78 Corporate Trust Shares Orig.) 2.84 D filed Tr Shs 10.75
vestors Fund Am arket Street it Corp... ais : aryland Fund [assachusetts SB avestors
wnoz 0 ~
| Amer Shares 10% 5 ht Shares oe
$
t are tate Street Investment (Beh) 18 108. > Supervised Shares, I 32 [rustee Stand Oilshares A, [rustee Stand Dilshares B. United Stand Of *Ex-Divid i
aH
Money and oT Rrchiange
INDIANAPOLIS STATEMENT ; Sleatings censens taseesnsans Wanaes $2,524,000 Debits 6,560,000
TREASURY STATEMENT (By United Press) WASHINGTON, Aug. 18.—~Government expenses and re or the turrent ; 1 Year to. Aug. 15, compared with a year
! This Year Last Year Expenses..$ 737,734,171.15 $ 1,061,338,549.91 Retelbis. . 518, 158, 897.29 ’475 403,134.22 Be a i o 220) 975, 273.86 ,935,415.69 Cash 074,945, 691.19 010,015.09 Pub. Dost. 33 413,545,508.48 29,011,655.003.53 Gold Res 10, 664.895 7509. 80 9,183,856,837.48 Customs '. 48,543,578.33 47,496,590.11
Other Livestock
(By United Press) CHICAGO, Aug.- 18. — Hogs — Receipts, 12,000, including 2000 directs; er strong to” 15¢ higher, most strong to shade. higher than Monda is average; pid more; extreme top, 5, new -250 Ibs. $11. S5@ 11.90, Bt sows, 83
Cattle—Receipts, 7500. Calves—Receipts, t steers firm to um weights and
med
on all representative weights fed heifers higher in Sympathy wi light steers; middle grade cows and cutter kinds barely steady; better grade fat offerings fully steady; bulls, 10@15¢ higher and vealers, strong; stockers and feeders active at Tage 5, with better grades at $6. ward; best light steers early, $9.85, In held” high er; numerous loads all Tepresentative weights, 8. 9.50; 5.40 175@5: 125;
Qearline
bulls, down, mostly venlers, [email protected], few selects, $ She eceipts,” 5000; fat lambs, steady with a3 average; ork 75-87-1b. naHye, av. latter paid by packers and chers; throwouts downward from load Montanas, $9.25; $8.50; wes steady, mostly. $2.25 @s. 3.95; fou | lighewelgnis, $3.50 and above. FORT WAYNE, Ind. is: 18. 8 coiiogs, 15 ase lower; 180-360 1bs., $11.55; 200-2 33 lbs. $11.65: $25,350 he: "$11.50; 250-275 1bs., $11. 40; LL 1bs.. il 25; 300-350 1bs., $10. 40-160 1bs., 120-140 1bs.. $10. 5: 100-130 1bs., : rough, $8.50; stags, $7. Calves, $8. s
mbs, $8.78. Lara , Ind.. Aug. 1 Mar lower fi 55@11. 85;
steady 15¢ ; RK 235-260 - ibe.” ., $11. hans: WH $11. Bens bs. 11: *500-325 1 $10. 25; wale Ibs.. 150; 1 2180 1.20;
“ibs., 40-170 @10.65: 120-140 $9. ie, .50; a '$9.50 down: calves, $7.15 down. lambs, $8.25 down.
Hogs
medium west- |
8. — -— 200-235 Ibs.,
one
GENERALLY 10 GENTS LOWER Top Dropé to $11.85 From
Year's Peak Made Yesterday.
Hog quotations were generally 10 |
cents lower than yesterday's best time in today’s busy session at the Indianapolis Union Stockyards. Top
| of $11.85 was 15. cents telow the
highest price paid during the year, a mark set yesterday. . Receipts of all animals picked up with swine arrivals estimated ab 5500 with 259 holdovers. Nothing was Some on weights above 300
Wonsits between 160 and 180 pousds. sold for $10.75 to $11.60; scaling from 180 to ‘250 Those $11.50 to $11.85; kinds averaging 250 to 280 pounds were salable for $11.25 to $1.75; the 5) to 160-pound group moved at 10.50 to $11.50; 130 to 130-pounders brought $10 to $10.75, and kinds weighing 1C0
« { 0 130 were sold for $9.50 to $10.25.
Packing sows were steady, selling between $8.75 and $10 with a top of $10.25.
Cattle Held for Raise
In the cattle sheds the market opening was rather slow on steers due to higher asking prices. Early steer sales were strong, in some instances being 15 to 25 cents higher. Two loads of strictly choice 1228pound steers brought $9.50. Bulk of fed steers were to sell from $8.25 to $0.25. Fed heifers were strong, the top being $8.90. Veals were steady to 50 cents lower, bulk of good and choice kinds bringing $7 to $8. Cattle receipts numbered . about 2700 and ‘calves 900. Lambs were steady to 25 cents lower, the bulk of better kinds selling at $8.25 to $9.25. Slaughter sheep were steady. Receipts were estimated at 1200 head.
Local Livestock
HOGS Top $11.45 11.55
-Receipts 5000 3500 3500 4000 1000 4000 §500
hoice $10. [email protected] choice. $10 Isa 11.50
choice. [email protected] 108 85@11. 3
20@11. 8
nd choice.. 11.65@11 choice. . . 11.65@11. ‘35
choice... [email protected] choice.. [email protected]
Bulk
[email protected] 10.60 11.55
Light Re0-100) Hood and Mediu
Lightweights— tH 160-180) Good, and
Medium vou (200-220) Good an (220-250) Good and Heavyweights— - (250-200) Good (290-350) Good Packing Sows— (275-350) Good ....
a 9 25 HH 9.50 [email protected] 8,[email protected]
Receipts, 2700— (550-900) Choice . Good ...
o] (900-1100) Go “risssasenssae Medium es (1100-1300) Gi
M (1300)
APRN NRPOANDIN F3gaangeaae i 0999950303909 - soenoanooaIw 3233223888838
550-750 ( ) G
(750-900)
330
Saubs gzzzz 2vano
23323
Common, uim. Good and choice. . Common, medium.
.
Good Common and medium . . Low cutter and cutter .. Bulls, go: Cutter, com. and med. bulk.. Vealers —Receipts, 900— Goo) and choice
“-
Tr 89338 ©9838
SAA tne ambos Sanh
aN «300
(250-500) Good and choice. .$ 6.50@ Com. and medium. 4.00 Feeder and Stocker Cattle (500-800) Com. and choice..$ 6.00 Com. and medium. 4.00 (800-1050) Good and choice... 6. Com. and medium. 4
8 San ff. @ a2 3588 3% 8388
38 238: o8 83983 Bh Bana ax
SHEEP AND LAMBS —Receipts, 1200—
"e0-170) Good and c Com. and A ly 1.235@ 2.00 JEective July on spring lambs classified
(Sheep and lamb quotations on clipped .)
basis
-rates and direct monthly reductions of principal are now offered by the Celtic FEDERAL Savings and Loan Association. You asioy _ these advantages as well as the r
: Federal
LOAN
NK
ALR NWR RR Rr TS |
ORK RRR HORNA
, GENERAL DIS INCORPORATED INVESTORS
The right arm of the automobile industry is the financing companies. The spurt. in new automobile financing has playkd a big part in keeping our automobile factories busy. New car financing in June was nearly double that of a year ago, while the total financing in the first half 'of this year topped a year
‘ago by 60 per cent. Comparative fig-
ures on automobile production showed a 10% per cent increase. This condition indicated that a larger proportion are now buying cars on time.
AIR LINE REPORTS
Volume in Second Quarter Best in Firm’s History.
Times Special NEW YORK, Aug. 18.—United Air Lines and subsidiary companies had net operating revenues of $2,622,845 during the second quarter of 1936 ended June 30, the largest volume of business during any corresponding quarter in the history of the company, President W. A Patterson said today. Seasonal gains largely accounted for the increased volume of passenger, mail and express business, the report stated. Net income for the second quarter totaled $222,625, after all charges, including Federal income tax had been deducted. This figure compared with net income of’ $85,801 for the same quarter of 1935, after adjustment due to revision in equipment depreciation rates. The successful operations of the second quarter, did not, however, equal losses incurred during the first 1936 quarter, Mr. Patternson said.
were conducted at a loss of $26,770 after adjustment of insurance reserve. Increased operations of the United Lines during the second quarter resulted in a 22 per cent increase in mail flying, 16 per cent in passenger miles, and 51 per cent in the air express division.
(50 STOCKS DECLINE
Times Special
ket value of 50 representative stocks listed on the New York Exchange totaled $21,047,361,750 Aug. 15, a decrease. for the week of $473,674,875, or 2.20 per cent, Paul H. Davis & Co. announced today. At the close of the corresponding week a year ago, the same 50 stocks had a market value of $15,218,889,000, indicating an increase during the year of $5,828,472,750, or 38.30 per cent.
LOCAL CASH MARKET
City grain elevators are paying $1.05 for No. 1 red wheat. Other grades -on their merits. Cash corn, new No. 3 yellow, $1.08; oats, 35c. Hay—No. 1 timothy, $13.50@15; No. 1 clover [email protected]; No. 1 alfalfa, first cutting, $14.50@15; second cutting, $16@117.
BUSINESS AT PEAK|
Tour 0 10 FALL BELOW INCOME EXPERTS STATE
Nation to Produce Sixty Millions in Wealth, Estimates Show.
By United Press
WASHINGTON, Aug. 18.—Belief that national income produced this year is to exceed income paid out for the first time since the start of .the depression was expresed privately today by government fiscal experts
Figures for the first seven months of the year indicated 1936 national income will approach—possibly exceed—$60,000,000. Belief that ine come paid out would be slightly less than that amount was based on the trend in recent years during which. the nation gradually has built up income to a point nearer equal to outgo. Department of Commerce sta< tistics for 1935 showed national ine come produced at $52,959,000,000, compared with income paid out at $53,787,000,000.
Roper Predicts Increase
Secretary of Commerce Daniel C. Roper recently estimated that 1936 national income would show a 10 per cent increase over 1935. Other unofficial estimates have placed the expected increase still higher. In 1929, national income was ape proximately $81,000,000,000, which was ‘about $3,000,000,000 more than income paid out. By 1931, income had dropped to $53,584,000,000, and was more than $8,000,000,000 less than outgo. In 1933, income had dropped still further to about $41,000,000,000, but tightening of purse strings had resulted in a spread of only about $3,000,000,000 between income and
Operations for both quarters of 1936"
DURING LAST WEEK
NEW YORK, Aug. 18.—The mar-|
Administration; SAFE SOUND LOANS!
Here is your way to build, buy or modernize a Home: We will assist you to secure an F. H. A. Loan. Pronounced safest, easiest-term-ed Home-Loan yet devised. New long-term periods; new rates; lower costs. Avoid second mortgage financing on your home. Consult our loan officers.
Bonds of the United States Government, Its Territories and Insular Possessions
Federal and Joint Stock Land Bank Bonds Indiana Municipal and Corporate Securities Real Estate Bonds and Preferred Stocks General Market Securities
Indianapolis Bond and Share Corp.
129 EAST MARKET STREET
Offers and Sales Made Only to Residents of the State of Indiana
$260,000.00 KUHNER PACKING COMPANY
(an Indiana Corporation)
42 % First Morigage Snking Fund Bonds
Dated August 1, 193, Denominations $500 and 5 Maturing January 1. 1949. Sim,
Indiana Intangibles Tax Retundable Upon Appin Se———
Merchants Trist and Savings Company, Muscle, Indiana,
RE EUS o