Indianapolis Times, Indianapolis, Marion County, 25 August 1936 — Page 8

Is Symbolic of - World Trend.

BY JOHN T. FLYNN—_

Up to now no one has managed them, Rich, favored ‘groups have prospered through possession of certain privileges. But there has been no real government of our economic affairs. Governments ha A e Flynn dipped into the Me, subject. Economic questions arise and are treated piece meal when they can no longer be escaped—such as tariffs, banking, money and the like. But no conscious, continuing: economic rule has been attempted. Organized business has tried it in spots. But business lacks the power and is too busy with its’ own wars and cross purposes to succeed. 8 «8 #” UT now on all hands it is conceded that control is necessary. The. great issue is—who shall set up the government? In whose interest will it be established? . Shall the people rule their economic affairs as they do their political affairs? Or shall the rule be in the hands of the producing groups organized for that purpose? Shall it be by tine democratic state in the interest of all or by organized producers in the interest of profits? Beyond these groups are two . others, The democratic groups breed another which holds that government of our economic life under private industry is impossible; that capitalism has broken down; that the moment is at hand for the rise of the Socialist state. The advocates of control by the producing groups breed another school which declares that the political and economic state must be kept separate; that the economic state must be set up, dominated by the producers organized as such but implemented with sovereign powers of the state; and that the democratic state must go and in its place arise the totalitarian state, the modern dictatorship armed’ with limitless powers essential to its grim objectives. » ” =

ERE in these camps we see the essential nature of the rising struggle. Here are literally four armies—world-wide armies. One fights for social control of industry by the democratic state. This is . France. A second is more or less ‘committed to control of our economic affairs by organized groups of producers under a‘thin, mild government supervision. This is for seizure of the industrial machine and its operation by. the state. This is Russia. A fourth is for abolition of the democratic state and the split of the state into a political and an economic state, dominated by producers un-- . der a dictatorship. This is Italy, Germany, Austria. We may take any one of these philosophies we wisn. But we can ~ not evade the issue. It is going to demand settlement in every coun- _ try in the world sooner or later. What happens in Spain is going to have a very decisive influence on the course of the battle throughout Europe. But one day we will have to come to grips with it here. . There are certain; moulding eras, when ideas get abroad. Such eras produce the Renaissance, the American and French revolutions, the great liberal-democratic uprisings from 1848 on, ; Such an age is here. Ideas are' loose in the world. We may run from them, ‘but.they will hunt us down, (Copyright. 1936, NEA Service. Inc.)

~ Fruits and Vegetables

(Quotations low subject to change, are avers wholesale prices euler offered y local Somiission 9 dealers.)

per] 1

can. rm ae be: bi Mele per $2.50. Peaches Elbertas EL in. bu. $3. Plums—Red, 4 basket te, $2. Gr

crate, S108." MELONS—Canta oupes—Home-grown, PRY B.s, No. 1s_bu.. $1.25; home-grown, H 30-1b. VEG

TPS, 2 Ly Waterm ne Miron ui, bu. ig ! Beets Ran cre Cairo ro eens: Shichis igen Washed Z —Mic mn 0z., Cucumbers— $1.50. Corn—Home.gro Faison stove, bu. : . California, 5s, $4.50;

15-1b. basket, $1. bu Min!

Potatoes — , $1. Sal. 90. Carrots

x BU, Be edh s Sweet Potato

chess | Ind

Soaring Prices Seen Gaining

in 3-Year Race With Pay Checks. =

Times Special a MINNEAPOLIS, Aug. 25.—Soaring food prices and rising rents in the late summer and autumn months threaten to wipe out the slender margin which the average family’s pay check has finally established in its three-year race with living costs, according to a 19331936 buying power study released today ‘by Northwestern National Life Insurance Co. "A month’s supply of food for a household of four, ‘which: could be bought for $30 at average 1933 prices, cost $37.93 during the second quarter o 1936, and climbed another half-dollar in July, in spite of the brake of seasonal cheapness of fresh fruits and vegetables. With ‘these items resuming their mormal fall price rise, the entire food index .can be expected to soar from the effects o scarcity, the summary said.

Expect More Rent Boosts

“The same class of living quarters which could be rented in 1933 for $24 a month cost $28.93 in the second quarter of 1936. The further increases of 5 to 10 per cent generally anticipated for this fall, should begin to be felt when old leases expire on the nation’s moving day, Sept. 1,” the report said. - “Since 1933, earnings per family have trailed behind living costs in their upward surge—far behind in 1934, and:by a smaller margin in 1935. In: the second quarter of 1936, however, pay rolls rose much faster than living costs, so as to close the three-year-old gap. The average family, earning and spending $180 per month in 1933, found its monthly income risen to $136.73 in the second quarter of 1936, while the same scale of living which could

ra eso cad

Hundreds of Indianapolis residents: have inspected the two trailer: demonstrators of the. Hoosier : -Motbr Club, 1840 N. _Meridian-st.

Mrs. Betty Meyers, left and Miss:

By MARK OGDEN

height, the keen: interest shown | financial. significance .of this “new

parked ‘on the lawn

2 » happe ns that ‘Busiions’ and. Indtis= Wis the vacation season at!its | trial leaders have been studying the

today by Hoosiers in auto passenger | little: brother in the automobile trailers hardly could be attributed to family, »r. commercial motives, However, 2 so! A leading financial ‘prophet re-

New York Stocks

(By Thomson & McKinon)

be supported on $120 in 1933, cost Mid hio

$135.14 to maintain at price levels

of 1936. The family’s pay check [Pet Cor

gained over $3 from the preceding three-months period, while its living costs rose less than a dollar in the same time.

“Clothing prices have increased

‘comparatively little in the last three

years, the index showed: raiment for which the family budgeted $20 in 1933 costs them $21.78 now. The cost of fuel and light is back to

Corp Un ou of Toul.

Steels Acme Steel

precisely its 1933 level, wihle the | Beth,

‘sundries’ item shows only a slight in 1636. from $15 in 1933 to $15.50 in ”

New Bond Issues |

(By Lyons &

Allied Stores Aes a a Arkansas Gas 4s.

C “H” 3%s '06 . Chicago West In 4%s "63 Chicago Un Station 3l%s Cleveland Tractor 5s 45. Columbus Railway 4s '65 Com Invest Tr 1st '51 Conn River Pr D & L 3%s Consolidated 3 38 ’51 Cudahy Pig 3%s ’'35 Cudahy Pkg 4s 5 Edison Tiga 3%s '66.. Gen Motors Ac Corp 3s '4 Gen Motors Ac Cor 3Yas $i. ; Indianapolis Water 3%s “oY Iowa South Ulities Nis '50. Kansas P LI. 4 ‘65

Okla Natural Gas 5s Pacific Lite 4%s 5 . Peo Gas Lite & C Coke 4s 61... 8 Penn Railroad os. : Penn Tel 4

8s. ii ages 106% ern Kraft dias aq ooo

Wisconsin ae *% Biec 3% 3 1038 as ’ Wisconsin Pwr & Lite % i ..104%

Wisconsin Pub Serv 4s er Local Securities (By Shdianapolis Bond and Share Corp.) sent TD nde Jog ofiering 0 ht Dery indicate the . ng and sel marke ea

based on buying recent transaction:

BONDS - Cits Ind Tel (T H) 4%s ° H Tel Tel Rt W Ss an H Tel & Tel Pt W 8s "43 | 106 Indpls Railway Ine 58 ‘67 .... 85 68 EEE Rs 8 dh 0 r . Morris 5 & 10 Stores 58 "50 168

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Fruit Ward Bak ‘B’:. . Wrigley

Retail ;Stores— Allied Stores “an Asad D

12%

| Sears

Noolw + Aviation— Aviation Cor Boe

An A Vi. ney Sop i New 1 : 205% ./Chemicals— :

Air Reduction .. 74% Allied : Chem ...232

m Ne ick Zonite Prod . Financial:

Transs Tr Conti Corp. bee £30; Ballding— mu

ssseses

' Househeld— Col “Pal Peet .. 1¢

ana Sticks

(By ‘Atkins. ‘Hamill & Gites)

Prev. close. 23% 8 Ya

cently estimated that already there are 500,000 tourist trailers in use in America,” and ‘he $aid it is likely that half the population’ will be living at least a part of each year in trailers within 10 years.

“Rumors have been eminating from

| automotive circles to the effect that ‘several leading car manufacturers were considering the addition of

passenger trailers fo their lines. It was left to the Pierce Arrow Motor Corp, to make the initial announcement. Last week this company en+ tered the field with plans for making a unit with all steel chassis, body

‘| frame and paneling.

While about 25 nationally adver-

| tised trailers ard being manufactur-

19% | ed, so far as is known, no Indian-

apolis firm has taken up this new

phase of the industry, according to |

both Todd Stoops, Hoosier Motor Club secretary, and Myron R. Green, Chamber of Commerce industrial

commissioner.

Two Factories in State However, two Indiana companies have gained recognition in this line, namely, Gilkie Trailers Corp:, Terre Haute, and Schult Trailers, Elkhart. The Bendix Corp. of South Bend is making and advertising a power

3% | brake ‘especially designed for pass-

enger trailers. Probably the leading distributor

¢ lin the state is the Allied Truck % | Equipment Co., 804-906 N. Senate-

ay. -R. H. Raney, of this firm, said t in the last four years his organization has sold several hundred

trailers. in the Indianapolis terri-|

tory. It was not until this summer,

‘he said, that trailers really caught

the public’s fancy. Units sold by Allied Equipment range in price

from $248 to $1070, but Mr. Raney |

said many custom-built trailers have

been sold for $5000 and more. Sixty

units a day are turned out by the Flint (Mich.) factory which is represented here by Allied.

Furniture Plant Converted: An example 'of the industrial

12 | metamorphosis that has been stimulated by the advent of auto trailers

from Sturgis, Mich.

NS the Royal Wilhelm Furniture

Co. was having its financial difficulties. With only a few changes in machinery the company was able within 60 days to produce on line, trailers in considerable numbers.

Good The management is said to believe So - its troubles are ended.

+ Tourist cam

the purpose of trailers. And in Chicago a magazine, Trailer Traveler, reached its fifth

| issue with the August number. Ward’s Automotive Reports last |

‘week said: “It seems apparent that the trailer field is to :

LOCAL‘ FIRM TO CLOSE

The National Dry Kiln Co. 437 W.

Georgians, is to close

| ps throughout the na- | tion are converting their layouts for accomodating tra

~ 10 20 Cents.

lowest. since Aug. 10. Weights be-

{tween 160 and ‘300 pounds were 15

to 20 cents lower while swine scaling less than 160 pounds dipped 25 cents. Nothing was done on weights |

300 pounds. Doms. sil a onunuatiol}.

of the extremely hot weather which

has depressed the demand for fresh

Porkers scaling between 190 and 250 pounds. brought $11.20 to $11.40; weights from 250 to 290 sold for $10.90 to $11.30; kinds averaging 160 to .190 .were salable at $10.50 to $11.20; types weighing 156 to. 160 | pounds brought $10 to $11.10; the 1130 to 155-pound group moved for $9.25 to $1025, and the 100 to 130 pounders sold for $8.75 to $9.50. Packing sows were weak to 25 cents lower, selling’ to $9.50 with a top o $9.75. ‘Cattle: shipments totaled" about

2500 plus 900 calves. Good to choice] light steers vege

steady; medium and heavy kinds slow with prices weak to 25 cents lower. Fed heifers were steady. Cows were \about

| steady at the opening.

: $9.60 for Top Steers ; Top steers brought $9.60. Bulk of

fed steers moved at $7.75 to $9. Top 3

heifers brought $9, but most sales were for $5 to $7.75. Beef cows sold

between $4.25 and $4.75 and cutter |2

grades were disposed of for $3.25 to $4. Vealers were steady with

Monday's. best time, the bulk selling

between $7.50 and $8. Sheep receipts were about 1400. Lambs were weak to 50 cents lower. Bulk of better ewe and wether lambs were quoted at $8 to $9 with $9.50 as top. Slaughter sheep were steady at $2.25 to $2.75.

HOGS Bulk Receipt, 7511.60 85 5500 @11.70 : 4500 : 3500 60 4000 1% 70 500 25, 112001140 : 7000 Light Lighis— (140-1 Siood and choice. . $ 330213: 18

11.10

11:25

Lightwelghters (160-180) Good and choice... 10.556 10.00 «+ 10.85 ul » 10.40 Medium Weights— 00-230) | and choice. 1 (390-350, Good and choice: . 1 Heavyweights— - 1260-290) Good and choice..

1s 25 90. (200-350) Good and choice..

BEBE]

Fe Ee ilo forge =e

1 1 0. 0. 5 8.25

9. 9 8. 8 9 9.

Fst 3

.85 30 11.15 40 40 30 00 5 .00 50 15 75 50

oa Sw Ov

—Receipts, 2500—

(550-900) Choice .

823

Common ssesconns

(900-1100) Choice . Good

seesessgene

(1100-1300). Choice .

Sih “12000 or (1300)

VOIP NVOINORIPONIPN®

83323

10D IAD IND 100

Zak agisiaok

(550-750) . Good

ages oe

(250-500) Good and choice. Com. and medium. Stocker

-$ ' $008 38 7.98

ium : medium. 3

ready he has received reservations

esti for: $8.35

Don E. Warrick, Indians ‘Bankers Association secretary, is take ing reservations. from persons planning to make an 18-day tour |g. ‘of the West for the National ‘Bankers’ convention in the Hoo_sier Golden Gates Special. Al-

from 12 states besides Indiana.

N. Y. Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 average equals 100)

uv. 8. GOVERNMENT BONDS (By: Abbott, Proctor & Paine) : Treasurys

143"

sssvssesse s9vesesteseNsese

19565Home Owners. Loan Corp.

Federal Farm Mortgage Corp. 1949

| DOMESTIC

Close. Alleg Corp 59 "44...05..000000 98 Alleg Corp 5s "M9, eases Am Frgn Pow 5s 2030... Am Tel & Tel 5'%s '43.... Am Tel & Tel 5s '65 .... Arm & Co (Del) 4s '55 Atl Coast Line 4s +52 Atl Coast Line 4%s ’64..... ess 867% Am Wat Wks 6s '75

Am Rollin;

a Illinois Central 5s '63 Ya Rapid. Transit 5s 66 8 340% Elec Bs ’44..

ter Tel iS Tel 4%8 ’ 86 rntl Tel & Tel 5s ies 8% nterntl Te & Tel 4%s '82.... 73%

Meise Hon' sis 50 Nation

4 Eoatal 7el Ha 53... vie 3% Vis"

ne $ vou 3

sesss sesssss

we $e sesnesevnsen : 939%

SBenesosseRse

Foucilown 8 £4, -

» sessesensesesness Bl 3 saekndeny. sere, me $t4s 52, 61 sven,

i Stocks

(By Biyth & Co.)

{2181.03 for No. 1 red wheat.

Executives From 13 States Make Reservations on Hoosier Special.

Reservations from 12 other states

‘thave been received for drawing {rooms or compartments in the Ine ‘Iirain to the American Bankers As«

sociation convention in San Frane cisco, Don E. Warrick, secretary of the Hoosier organization, said today. The excursion starts Sept. 13 and ends Oct. 4.

Men prominent in financial Cire Ses Who ase lo travel with the Tn

Bank of Louisville; Bayless French, Northern Trust Co. of Chicago, and Charles F. Zimmerman, Hunting don, Pa., secretary of the Pennsyl« ania Bankers Association. Several of these men are to be accompanied by families, Mr. Warrick said.

Enlow Heads Delegation ' “"Other reservations have been

60 ids, made by bankers in Iowa, Oklae

homa, New York, Virginia, West

4 Virginia, North Carolina and Tene

nessee. Heading the Hoosiers will be C. B, Enlow, Evansville, state association president, and Mr. and Mrs. Ware rick. Mr. and Mrs. Vernon Hinkle have charge of arrangements for sight-seeing on the 18-day trip,

. | Points of interest to be visited ine 28 | clude Pike's Peak, Royal Gorge, Salt

Lake City, Yosemite National Park,

108-8 | Los Angeles, Boulder Dam, Grand

‘Canyon and the Texas centennial expositions. }

DEPARTMENT STORE ° SALES HERE HIGHER

Indianapolis department store sales for the week ended Aug. 19 made a substantial gain over the same week of 1935, a Department of Commerce survey disclosed toe day. The report said abnormally high temperatures tended to check consumer interest in fall merchane dise, particularly in the Midwest and South. Fifty local firms reported eme ploying 26,132 persons compared

| with 24,134 in the same period last

year. Carloadings, out-bound, were 13,468, compared with 11,606 in 1935. Electrical output in July in the city was reported as being 20 per cent. greater than the same month of 1935, whlie postal ree ceipts totaled $339,573 againsé $305,458 last year.

Chicago Grain Futures (By James B. Bennett & Co.)

Low 1.00% 1.00% 1.08

Sept. ..... 111 1.10 Bent cvseve 98 5 May ...... 91% I% Oates

LOCAL CASH MARKET City grain elevators are paying Other grades on their merits. Cash corn, No. 3 yellow, $1.07; oats, 36c. Hay—No. 1 timothy, $14.50@15; No. 1 Sloyer $13.50@1450; No. 1 alfalfa, first cutting, 81450015; second cute

ting, $16@17. J

Money and Exchange |

! INDIANAPOLIS STATEMENT

i Clearings Stsesssnssssbacsossnins 0 Debits ...........:.. 92.1000

6,165,000

sesssevnene

TREASURY oF SEATENENT - (By United Press) ot fiscal

he hr ey ar lo Aue. Aug. Bene Oey arent yeas

This Y Expenses. § ite wie i.70 Cash bal. Maas | 1 8550s i God Pont. foeaisin 12 Boum 163.088 «8 Customs. . 908.23 18.166 875