Indianapolis Times, Indianapolis, Marion County, 8 September 1936 — Page 8

Abreast of The

Sales of sed ies

PAGE 8

TUESDAY, SEPTEMBER 8, 1936

in : States were 48 per cent more in the first siz months of 1936 than in the corresponding 1935 period, Leighton W. Rogers, president of the Aeronautical Chamber of Commerce of America, announced.

~ Forecast for Next Year.

BY JOHN T. FLYNN

rEW YORK, Sept. 8—They are. singing two different songs in ‘Wall Street. One is that the country is going to the dogs; that un-

~ certainty in government is holding

‘back business; that government in-

terference has just about doomed ‘prosperity. This is the song they are singing with their lips. The ‘other they are singing with their cash. It is that we are heading

for a boom in |

the summer of 1937. : The first tune they use to hurt Roosevelt. The-"| second one they use because they believe it and hope to make money out of it. They are 1 saying that polMe. Flynn itics is ruining usiness, but they are betting the her way. | Any number of stocks have doubled in value this year. One can find even utility. holding company stocks which have gone up more ‘than 100 per cent in market price, Even some railroad stocks have doubled. And it is the railroads and the utility holding companies which the government is supposed to have injured most. These higher prices: for shares mean simply that the boys in te Street are gambling that, in spite of all their dark » prophecies, things are going higher. 5 #2 =» =x r y HAT is this based on? It is, : based chiefly on the expectation that there will be a building boom under way by next summer. Whether this is sound or not is another matter, but the belief is

firmly held by many.

- This in turn is based on several

factors. First of all the mounting reserves in ‘the banks are now so enormous that business men do ‘not see how freer credit can be delayed much longer. Second, government liberalization of long-term mortgage loans is looked upon as a good reason why bank credit should begin to * flow into the building mortgage “market. Third, home builders have apparently demonstrated that they can create a market for small

= houses by styling them. They have

had a good deal of success” this year and this may prove an en_couragement to go forward with

even bigger plans next year.

¢ Trac Terminal Co 5s

~ Beit Rail 8 Y com

Fourth, they believe the housing shortage will have developed more surely by next spring.

” n n \[FTH, they believe that the government is going to keep on spending for relief and they are discovering that relief money loses no time in being piped out into

~ business.

Also there are many stories go- . Ing around of large plans by va“rious large corporations for plant extensions and rehabilitation, such as the big General Motors project in New Jersey and certain United States Steel plans. These are the chief grounds of this belief, but the great point is, whether they are sound or not, that they are held firmly by a large group of operators in the market. ~ Incidentally, whatever they may . say for publication, they believe * that there is going to be no tax hoisting next year no matter who wins and not very much difference in the amount of money spent, no matter who wins. That's why they .are betting differently from the “way they talk politically.:

(Copyright, 1938, NEA Service, Inc.)

Local Securities

(B a Indianapolis Bona and Share Corp.) e Jolowing quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inquiries cr recent transactions, BONDS Citz Ind Tel (T H) 42s 'S1... HT & Tel Ft W Shes i sass H Tel & Tel Ft W 6s Indpis Railway Inc 2s : Interstate Tel & Tel 528 '53.. Kokomo Water Works 5s '58 .. Morris 5 & 10 Stores 5s '50 .. Muncie Water Works 5s '65 .. Noblesville H L & P 63s ’ 0 Ohio Tel Serve 6s '47 ‘Richmond W W 5s’ Seymour Water 2S 5s "49 ....101 H Trac & L 5s "44 TH Water W orks 5s '56 T H Water Works 5s '49 '57 5 Indpls Water Co 3'25 "66 ..... . STOCKS A B C Brewing Co com Sanna ee a * sin Belt Rail S Y pid 6s 56 Central Ind Power pid 7s . Home T& T Pt W 7s Hook Drugs Inc com vex} “Ind & Mich Elec Co pfd 7s ... Ind Gen Serve Co 6s .. Ind Rydro Electric Co Ts .... Indpis Gas Co com 6s *Indpis Pow & Lt Co pfd 6s bls Pow &

104 105 106 68'2 101%; 105

; dpis 5 North Ind Pub Jory pid 5izs..

Pub Serv of In

81 North Ind Pub Se Co ‘ptd Ts y 14

reg Laundry Co com Pub Serv of Ind pig 3s “ima Pub Serv of Ind pfd 80 10413 3

“Ex-Dividend. : 10

Fruits and Vegetables

~ {Quotations below-subject to change, are average wholesale prices bpeing offered to buyers by local commission dealers.) I A Michigan D Barietts, box, Fo. i Bananas—Selecte 43ic. Apples— oo Tani vig Blush, $1.95: No. IR. Y in, 81.50; N. Y. buchen: at $1.25. Lemons—Sunkist, 50. Limes—Mexicah, carton, 13s. ‘Persian seedless, er 100. $2.50. fen Erbe tas 2 in. . $3. Plums— runes, 16 1b, lug PS ra 8-1b. erate, $1.7

Triartirm Brin — Homme grown, Honey Rocks, bu. $1.25; home-grown, Tip - Tops. $1.25. Watermelons—Missouri, 30-1b. _av., 80c. VEGETABLES—Beans—Round stringless, bu., $2. Beets—Home-grown, doz. 3 Carrots—Ohio, doz, 45c. Caulifipwer—12s, ‘erate, $1.50. Celery—Michigan Mammoth. ed and trimmed, doz, . Cucumbers ~Indiana bu. $1.50. row, Bu G5: . Kale—Home- -grown, i + tuce—Iceberg. Califoring, Ss, , home-grown, 15-lb. Daspet, J - Bg Onions—Northers yellow, Non. net. Parsiey—Home-grown, doz, 40c. Western hamper, $2.50. 100-1b. bag, tatoes—Eastern Jerseys, A oe white, 3-doz! e—Doz.. 45¢. Turnips—

aL 50. Tom Alot Home 16-1. ¥ basket, 40c,

.10,

(By United Epyese)

* 75-1b, higan. bushel, gens, ho basket, 1202s TACO Crates; DD Das narates, SL138)28 |

Mich! square Sn 25@50c. market soi sacks: Illinoi: 150GT5c. ‘Indians. yellow. S0@ 3c:

TSR 3 Ey,

{ the bulf . weights selling from $11.15 to $11.50. | Hog receipts totaled 8000, with 254 | { hold-overs.

| steers | strong. ‘Top steers prought $10, with |

| steady,

SWINE, CATTLE PRICES STEADY ON LOCAL MART!

Hog Receipts Total 8000; Lighter Demand for Sheep Seen.

Cattle receipts were 3500, with fed | and yearlings steady ' to!

the bulk of fed steers and yearlings | ranging from $8.50 to $9.50. Heifers |

| were strong to 25 cents higher, with | the top selling for $8.75.

The market on 900 calves was |

the bulk of better grades |

| ranging from $9.50 to $10.

| bulk of better grade ewes and wether lambs from $9.25 to $10. Sheep | recipts totaled 2500.

| a [few commanding a top price of | $10.25. | weights from 260 to more than 350 | pounds, i lighter ranged from $11.30 down to {$9 to $9.55 for 100 | weights. i $3.75.

{ fat ewes

| Medium Weights—

| Good and choice

Good Common and medium

5c. National City

| most 180-250 lbs.

A barely steady lamb market di) weak undertone maintained the

Few Sows Bring $10.25 Sows ranging from $9.50 to $10,

Heavy hogs, including sold for $11.30 down to $9.55, while hogs 190 pounds . and to 130-pound Beef cows ranged from $4 to $4.75, with cutter grades bringing $3 to

Slaughter sheep were strong, with bringing $2.50 to $3.25, with a top price of $3.50.

HOGS Avg. Bulk. Top. Receipts [email protected] : 00 Sept.

ight Lig his— (140- 160) Sood and Medium Lightwelights— (160-180) Food and

Mediu (180-200) Good. nd Medium

choice. .$ 2 [email protected] [email protected]

. [email protected] 9. 55@11. 00 . [email protected] [email protected]

[email protected] [email protected]

$3 J 332 10.25 .. 8.55@ 9.25

(200-220) Good and 1220-250) ‘Good and Heavyweisfits— « 1250-290) Good ana (280-350) Good and Packing Sows— (275-350) Good (350-425) Good (425-450) Good (275-450) Medium Slauchiter Pig a 100- 140) Good and choice.. Medium

choice. . choice..

8.25@ 9.25

[email protected] 8.00@ 9.55

—Receipts— (550- 900) 0 Saisuenis 8

Medium Axa ersuetes MON ..oseeenrs

(800-1100) nme

PBROO AWD DNH0 OD _ 51333833333335

. Com (1100-1300) Choice Good

NR RABDARD BUND ND 322330833833 99993 SRNR MNIMW D

, (1300) Choice .. Good

Heifers (550-750) Choice Sood medium. oo and choice.. Common, medium.

(750-900)

PI am BO =J BD S30 LON NQ Pabdit dw “D3 -3 wba on;

“ey en

Common and medium . Low cutter and cutter . Bulls, good . Cutter, com. and med. bulk... Vealers —Receipts—

ones pon wIO «tJ 3 So uvoen

ONES Lo nS 3 93990

Bane

— =]

Mediu Cull age’ omer

OOD

am! mos

(250-500) Good ig Cholce .$ Common, medium. Feeder and Stocker Cattle (500-800) Com. and choice..$ Com. and medium. (800-1050) Good and choice. . Com. and medium.

it i du 38 888 A920 ©9 68d 25 8&3

on Iho 8383

hh oi 8% 38us3

SHEEP AND LAMBS —Receipts—

Ewes— (90-170) Good and choice.. m. and medium. . i {Sheep and lamb quotations on clip 2)

Other Livestock

{By United Press) CHICAGO. Sept. 8. — Hogs — Receipts, 19.000, including 6000 directs; market, slow; butchers, 10@15c lower than Friday's average; some. steady to 10c lower: top, $11.45; bulk, - 150-175 1bs., [email protected]; [email protected]; few, 260-290 [email protected]; bulk packing sows, $9.60

Cattle—Receipts, 22,000. Calves, 2500; general market active;. only medium weights and weighty steers ruling rather slow in face of higher asking prices, year=lings and light steers, 10@15c¢ higher; prospects steady to strong on medium weights and heavies: she stock firm to shade higher; light heifer and mixed yearlings up in sympathy with light steers; largely fed steer run, with kinds scaling over 1100 lbs. predominating; early top, $10.30; 1050 1b. yearlings, $10.25; next highest price, $10.10; steers with some weights up to $9.85, mostly $9.65 down to $8.75; kinds of value to sell at $8 downward, scarce, heifer yearlings up to $10, a new high, these scaling 807 1bs.; cutter cows, [email protected]; Sausage bulls, $5. 75, and vealers, [email protected]: few : about 5000 Western Grassers here; stockers and feed-

ers steady. & Sheep Receipts 17.000: fat lambs opening steady s and sales. on good offerings, $9.75@10; choice kinds. 810. [email protected], and above; sheep and feeding lambs, firm; choice ewes, $4.15; feeding lambs, $6@8. FORT WAYNE. Sept. 8 -—Hogs—Market steady: 160-180 1bs., BO. Yi 180-200 1lbs., : 200-225 lbs. $11.2 225-250 3 250-275 lbs, $11. Yo: 275-300 1Ibs., £10.90; 300-350 Ds, $10.60; 150- 160 lbs. $10; . $9.75; 130- 2 1bs., $9.50: 100-120 1 $9. Roughs, $8.50; stags, $7; “calves, $9. 30 “lambs, $9.50.

Unlisted Stocks

{By Blyth & Co.) NEW YORK STOCES

Ibs. @1o

Chase . Chemical Continental *Guaranty Irving . “nr Manufacturers ...... Ceres nahn

First National Boston National Shawmut : FIRE INSURANCE Aetna Fire Insurance American Ins of Newark Baltimore American

Great American Insurance.. Hanover Fire ..... Seas ni eras Hartford ..... Home Insurance . National Fire .......... National Liberty sessenans North River

U 8 Fire saasns Westchoster Fire Feaadennnsiry *Ex-dividend.

207th Century

Li-6122

Any size up to 14"x20"—In one or more colors of ink—Any kind of paper,

Bemis Letter Service

| June 30, 1937.

‘the trend toward those in higher

‘whose sales actually are running

-ings. statements of the automgtive

, too large. panies are too far removed from the |

Tracing Income and Outgo

aN NN ® ©

BILLIONS OF DOLLARS Ho»

- oN

- O

1925

With Federal spending a major

EXPENDITURES

RECEIPTS

1930 1935 36 37

campaign issue, Republicans charg-

ing ‘waste and extravagance and Democrats upholding their own course, this chart gives a clear idea of how government receipts and expenditures have varied during the period from 1920 to 1936. The lines show the fluctuations up to the end of the fiscal year 1935-

1936, which ended on June 30, 1936.

Lines in the 1937 coloumn are

drawn from estimates given in President Roosevelt’s September budget : message, in which the chief executive's figures indicate a decided increase in révenues and a decided drop in expenditures for the year ending

1930; inclu deficit du $4, 810, 893, at

ive, with a deficit each

It will be noted that there were surpluses from 1920 to

year since 1830. Greatest annual

g this period was recalled in 1935-1936, when it totaled

NEW CAR SALES CONTINUE GOOD

Greater Public Purchasing Power Reflected ‘ in ’36 Figures.

Times Special NEW YORK, Sept. 8. —Sustained consumer demand for new cars and

priced groups reflect the public's growing purchasing power, according to a rfew automobile and truck industry réport on Poor’s Industry afd Investment Surveys.

Estimated July sales totaled 335,000; a figure exceeded for this month only in 1926 and 1929. This followed sales of 369,000 units in June, and brought the seyen- -month | total to 2,188,000, 26 ‘per cent over the comparable 1935 period. “The usual seasonal let-down in automobile production was delayed by this showing,” the report said, “and it is estimated that dealers’ stocks aggregate only five to six weeks’ ‘supply. This would indicate a relatively short manufacturers’ shutdown period in preparatlon for 1937 models, and asures a healthy inventery situation when the ‘latter are announced in November.

Ford Sales Lower

“General Motors and Chrysler’ continue to lead in registrations, largely - at. the expense of Ford,

below 1935. Independents are mak-

ing a good showing, led by Hudson, Studebaker and Packard in the

higher priced groups,” the report said.

Almost without exception, earn-

companies for the first half of 1936 showed wide gains over the similar 1935: period, according to the survey, with Chrysler reporting the highest profits for any half year.

Produce Markets

(The prices qubted are paid for stock gathered in the country, while delivered in Indianapolis the price is a cent higher.) Heavy breed hens 5 1bs. and over, 16c; “under 5 1bs., 13c¢; Leghorn breed hens, llc; colored springers, 1%2 Ibs. and over, 13¢; Leghorn springers, 1!2 lbs. and ‘over, llc; old ducks, white, 5 lbs. and .up, 5c; geese, full feathered, all sizes, 4c; all guineas, 1'2 Ibs. and up, 15c; old -¢cocks, ; No. 1 strictly fresh eggs, loss off, 20¢. Each full case must weigh 55 lbs. gross, a deduction of 10 meme 5 pound under 55 lbs. will be made. 3 Dujler, 38@39c; No. 2 35@36e¢. Sl: at, 34c

{By Uniled Press) AGO, Sept. 8.—Eggs—Market, firm; receibis, 9614 a fresh graded firsts, 247 extra firsts, 25'ac; dirties, 20%c; rent receipts, 23c: checks, 19c. Butter—Market, firm; receipts, 11.109 tubs; xtra firsts = (00-9112 score), 34@ | 34'2¢; extras (92 score), 35c: firsts, 32% @ 33%i¢; specials, 3512@36¢c; standards, 34c. Poultry—Market, steady: geese, ll@l4c; recejpts, 41 trucks, 3 cars; ducks, 11@ 17c;, spring. chickens, 14'2@18%,c; hens, 13 @19¢; .turekys, Jis@ise: broilers, 14@14}zc: Leghorn en 1l@13%c. old roosters, 13c: fryers, 14@17% a se. 181:@ @183c: Daisies, 19@ 18'4c: Longhorns, 19@19% Ren strong; Hano Russet

Potatoes—Supply, market steady to i Burbanks, 753. [email protected]; U. S. No. $2.15@ 2.25; Washington Russet Pr ns. $2.85: Colarado phys Jriumphe [email protected]; Nebraska ' Cobbl $2; Minnesota Cobblers, $2.25; Kansas Cobblers, $2.35; New Jersey

demand fair:

Coblers, $2.4 Afrivals, 236: on track, 298; total shipments Saturday, Sunday and Monday, 928.

NEW. BUSINESS BOOKS AVAILABLE AT LIBRARY

The following new business books now are available at the: business branch of the Indianapolis Public Library.

“The Challenge of Investment,” by W. W. Clafiin.— “How can we manage our investments so that we may feel secure? Can any investment procedure be designed that will stand up under the tests of changing«conditions?”

“Length of Life,” by L. I. Dublin and . Lotka.—'‘There is a natural Al of life, a limit vaguely defined, it is true, but nevertheless inescapable beyond which, even in the most favorable circumstances, human life can not extend.”

"Retail Merchandising Accounting,” H. F. Bell.—Merchandise control problems and conditions and methods of solving them or meeting them are the Brintipal subject matter of this book

“Installment Credits and Collections and the Installment Market,” by B. W. Griffin, and H. C. Greene. —Writ, from first-hand experience in installment selling for the sales manager, the credit man and the collection man in “this hazardous business.”

“Aircraft Yearbook, 1935.”

Chicago Stocks

(By Atkins. Hamill & Gates) rev. Noon. clos. Advance Aluminum .....ese0. 9 Asbestos Mfg .. 3% Bastian-Blessing ....cee0..000. 1415 Berghoft cessnsenees 1034 Butler Brothers ...c.eecee.sses. 13% Cities -Bervi€e .......:.isvee.. 4%

Commonwealth Edison weaves Eo Biscuit ......... 108

ig Vortex "Cup sessensananre Electric Household ........... General Household ......eesss Great Lakes Dredge eceeese... 32 Jarvis Mfg Ken-Rad T & L Lion Oil Refining Noblitt-Sparks . Schwitzer-Cummins A iams 0il-0- Matic

New y —_ Curb

(By Atkins, Hamill & Gates) IP. M N.Y. "Aluminum Co of America ees. 1297

Am Cyanamid “B"” ...ee.00ess 330

Am. General .. ... iveivennriies 9 Am Superpower sevens, 2% Ark Natural Gas “A” sereens, BY Atlas Corp ......... 13% 10 17;

Callin Corp .v......... Carrier Corp ... o Creale Petroleum Corp pe Elec Bond & Sh Fre Fisk Rubber Glen Alden (1) Gulf Oil Corp of Penn Humble Oil & © Refintng Co. Hygrade Food ‘ Imperial Oil of Canada ..... Lake Shore Mines .... . Holybdenum Corp of Am Tr Mueller Brass

Niagara Hudson Pwr . Pennroad Corp Root Petroleum St Regis Paper Co Salt Creek Producers Assn Sunray .

Tubize Chatillon Corp | PR Technicolor, Inc

NEW LEASE OBTAINED

Ralph T. Ruch, Chicago, has obtained a: lease on the storeroom and basement of 105 N. Illinois-st, W. A. Brennan, Inc. realtor, announced today. Mr. Ruch expects to open a bakery and doughnut business about Oct. 1, with offices loeated at 428 Illinois Building, it was said. Mr. Brennan stated that Mr. Ruch plans to open one of the most elaborate baking shops in the Middle West, and is to spend approximately $8000 in equipping the room.

COOL WEATHER DUE TO BOOST PRODUCE TRADE

Supplies Light, but Pickup Expected, Agriculture Bureau Says.

Times Special * WASHINGTON, Sept. 8. — Trading at leading Midwestern produce market centers was still lacking in color last week, but gradual improvement was indicated . with the approach of cooler weather, the VU. S. Bureau of Agriculture announced

doday in its weekly report.

Supplies were light for this time of year, but truck crops and fruit advanced slightly with better growing conditions. Carlots were about 15 per cent larger in volume, with moderate gains registered for potatoes, sweet: potatoes, apples, grapes, pears, peaches, lettuce and cabbage, while melons and cantaloupes remained on the downward path, the report said.

The general potato situation at| gm

principal trading posts continued fairly steady. with supplies moderate and demand slow. Eastern Cobblers dropped about 10 cents in Chicago, selling at $240 a 100 pounds which was close to the price of Wisconsin round whites.

Onion Market Active Prices of sweet potatoes remained

-about steady in early September,

with Tennessee Nancy Halls ranging from $1.80 to 10 cents more a bushel in Chicago, St. Louis and Cincinnati, while Louisiana Puerto Ricans brought $1.75 to $2 in the Middle West. The onion market has shown activity about three weeks earlier than last year, due to the large

| crop of good onions which arrived

from Michigan and smaller allotments from Indiana and Illinois. : The cabbage condition improved with receipts increased and prices lowered. St. Louis quoted Wisconsin round type cabbage $60 to $70 a ton in bulk. Melons slumped rapidly during the latter part of August and few carloads are expected after Labor Day.

Apple Crop Good

The apple crop appeared to be of good variety and showed freedom from many of the usual injuries from pest and diseases, the report said. Scald from recent hot weather

1 seemed to be the most serious effect

Western small,

on the Middle ments. ‘Sizes ran are expected to improv sinc th rent rainfall in producing quartrs. Demand is fairly good and prices stayed about even with those of the preceding week, it was reported. Michigan Wealthy | and McIntosh sold at $1.40 to $1.50 | x a bushel. Illinois apples were worth $1 to 50 cents higher for best sum-

shipbut

‘mer variety in St. Louis.

Michigan celery. called for 35 to 40 cents a highball crate in Chicago | § but reached higher prices in some Eastern and Midwestern cities. Slow, dull markets were reported for Eastern celery in producing sections. Tomato supplies were liberal in St. Louis from nearby sources and from Michigan and Ohio, also from Eastern markets.

Chicago -Grain Futures (By James E. Bennett & Co.). 9:45 M. 1.11% 1.09% 1.08%

Wheat— High. Lo A. >is susie nnn My

Sept. saresies 42 Dec 42%

43%

May ........ Rye— Sept, 82% .80 Ja1%

Money and Exchange INDIANAPOLIS STATEMENT

Gleazings 2,505,000 Debits ..oiciveciivsinnins recive 6,228,000

TREASURY STATEMENT r (By United Press) WASHINGTON, Sept. 8.—Government expenses and receipts for the current fiscal year to Sept. 4, as Some with a year ago:

This ast Yea Expenses. .$ 1,093, ioe 995. 63 $1, Fr) 242, 095. 35 Recei .'686, 710,887.30 632, 300, 305.4 Bofoin 4086, 776, 108.33 725,941,789. 8 Cash bal. . 1,836,120,271.09 1,475,139,410.02 Pub. debt. 33,366.100,276.73 29,002.493,269.03 Gold res.. 10,728,549,764.09 9,211,328,208.81 Customs. . 70,720,892.14 71,594,023.15

Less Volume, Greater Efficiency Suggested

‘BY RALPH HENDERSHOT Times Special Writer NEW YORK, Sept. 8.—Most business men have been having a case of jitters since the new RobinsonPatman Act went into effect. But Frank Klein, budget director of the Worthington Pump and Machinery Corp., seems to think the dark cloud has a silver lining. He believes it ‘will result in abandonment of the fetish in many businesses of concentrating upon greater and greater volume. “Thoughtful students of management,” he says, “have for some time been of the opinion that intensive cultivation of a limited market rather than a continuing drive for a more extensive market results, for many businesses, in a. more efficient operation—‘efficient’ meaning lower costs to consumers and, concurrently, a higher rate of return on the capital invested in the business.”

: Sees Help in Examination Mr. Klein's reasoning is sound in

“s | a great many respects. One of the

greatest faults in industrial operation today is that many concerns

{| have grown much too rapidly, even

though they may not have grown The heads of these com-

scene of operations to manage ef-

FILES

Filing Supplies, Guides and Folders

and Associates RL 9721

ficiently, and their lieutenants have been selected too hastily. During the boom period all sorts of corporations were thrown together loosely, and all who were connected with them were so busy they had little or no time to think of anything except meeting production demands and extending their markets. The depression, however, gave many of them an opportunity to pick up their loose ends and consolidate their positions. Adjustment Difficult “The Robinson-Patman Act,” according to Mr. Klein, “now places upon all businesses the necessity to examine in minute detail for the first time the costs of doing business. There is small doubt that many business heads will view the results of that self-examination as a mandate of common sense to change the whole direction of their particular businesses from a drive toward a large operation to one for shrinkage to an optilnum size and consolidation at such a level.” It will be recalled that in the early part of the depression many

of our large corporations were unable to adjust themselves to the changed conditions. In some cases operating expenses continued at their previous high levels, while in other instances men were discharged in droves without due regard for their usefulness to their employers. The effects of these conditions were reflected in operations prior to the advent of the NRA. Small units were producing and selling goods at much less than the big companies could afford to sell them. And these “bootleg” products were being accepted in the markets once held by the big concerns. Perhaps if these markets had been properly clinched in the first place, they

might never have been susceptible to such inroads

Rush Jobs Make Us Smile

Hendren Printing

Company, Inc. 470 CENTURY BLDG. RI-8333

ATKINS, HAMILL & GATES

MEMBERS

New York Stock Exchange New York Curb Associate Chicago Stock Exchange Chicago Board of Trade

204 Electric Bldg.

York Stocks

(By Thomson & McKinnon)

Oils— Atl Rig

Cont of Del .... Houston (new). Mid Cont Pet. .e Ohio Oil ws X Phillips Pet .... Plymouth Oil. Hp Pure Oil Seaboard oil... Shell U

Tidewater Assn Un Oil of Cal..

Steels—

Am Roll Mills.. Beth Steel Byers A M .... 22 Cruc Steel Inland Steel .... Ludlum Steel McKeesport Tin. 2 4

v s Stee Us Steel SIT Warren Bros ... War Pi

Youngst'n 8 & T 84%

Graham Mot .. Hudson

Studebaker ..... Yellow Truck... Motor Access— Bendix Borg Warner Briggs Budd Mfg . Budd Wheel . Eaton Mfg ..... Elec Auto Lite. . Elec Stor Bat... Greyhound *“B”. ®oudaille Murray Body . Stew Warner. . Timken Roll . Timken Det Axle Mining—

Alaska Jun .... Am Metals ..... Am Smelt ..... Anaconda

1 Us

15%

22 Homestake Min. 434 owe Sound Ins Cop wes Int Nickel .... 563 Kennecott Cop, 48% Mcintyre Mine.. 41% Utah Vg'

US Smelters...’ Vanadium 2455 Amusements— Crosley Radio.. Fox Theat

Radio Corp ..... 11 aramount ..... 103% RK .

Warner Bros .... 135

Tobaccos— Am Sum Tob.... 245 Am Tob (B) ..,1003, Lig & Myrs. (B) 10674 Lorillard 23% Phillip Morris. . 8314 Reynolds T (B) 56%

Rails—

Atchison ..... 85 Su Coast Lines, . & O 26

vessenes 44Y, RR ....... 33% Union Pac 139 West Maryland., 10%

Utilities— ‘Am & For Pwr. 17

Hydro Elec.. Interboro. RT. 1 IntT&T.... Nat Pwr & Lit.. Forta 3 Ames seins pes Gas .... bb Pub Serv N J .. 46 So Cal Edison .. Std Gas Stone © Webster United Corp .... Un Gas mp sen 36 Ut Pwr & Lt ‘A’ 41% Western Union.. 913% Rubbers—

Firestone Goodrich Goodyear ...... U S Rubber ....

Miscellaneous— Allis Chalmers ..

Am Can Am Mach & Pdy. 2332 ra. 19%

Burroughs Add J 1 Case ........158 Contl Can ...... 72% Crown Curtis Pub ..... 20%; Deere & Co 5% Eonar Kodak: ve Gillette 41 Glidden “ ar Inter Harv .. 19%5 Natl Cash Reg 25% em Rand .. 21 Underwood E ... 71% Worthingtn Pmp. 311; Foods—

Am Sugar ...... Armour Armour 6% Borden Prod .

Savane

61% 5%a pfd. 79% cL. 20

& Fdy 2"

w® OF FR

" N

Fak

Cork .... 80% - 9%

20 74%, 176 14 43% 7812 25% 20 T% 3

Noon

Va. Diversified Tr Shares “

Tr Standard Oilshares *

lbs. [email protected];

High Can Dry G Als JR Coca C cain Cont Sak Corn Prod Cuban Am Sugar. ii Bakin 14 Food 9s 1474 36% 32% nn rity Bak 17% 8 Porto Rico Sug 35% Std Brands .... 15% Un Biscuit ..... 27% United Fruit .... ¢ Wrigley Retail Stores— Allied pElores cas Assd Dry G

Jewel Tea Kresge S S Kroger Groce ... Macy R H McCrory St McLellan St .. Marshall Field. . .

Penney J C ... Safeway St ... 30 Sears-Roebuck.., 8 Woolworth ..... 56 Aviation—

Aviation Corp.. Boeing Aireft. .. Curtiss Wright. . Curtiss Wright A Douglas Air .... No i Am ry ’ perry C ‘United Air‘aft N © Chemicals—

Air Reduction... Allied Chem Col Carbon Som, Solvents .. Du Pont Freeport Tex ... Liquid Carb .... Math Alkali .... Monsanto Chem. Natl Dis (new). Schenley Dist. Tex Guif Sulph. Union Carbide. . U S Indus Alco’ Drugs— pristol Myers. . Lam Un Pee {Hew}, - Zonite Prod. . Finaneial—

Adams Exp . Allegheny Dorp. Transamerica. . Tr Contl Corp... . Building— Am Radiator.. Gen Asphalt.... Y Int Cement .... 563 Johns Manville 115 Libby Owens Gils. 6824 Otis Elev 277 Ulen Cons ..... 3% Household— Col Pal Peet.... Congoleum .... Kelvinator . Proc & Gamble. . Servel Inc «+ 25 Simmons Bed Textiles— Amer Woolen... Belding Hem ... Celafiese Corp . Collins Aikman.. Gotham Hose... Indus Rayon .... Kayser Julius .. 26 Real Silk 12V/ 1234

DISCOVER ASBESTOS DEPOSITS IN CANADA

Raw Product Found Near Gold Fields.

427% 343 99 30Y2 (ET 58 98% 35%

461, 169,

By United Press ARDEN, Ont. Sept. '8—Deposits of raw asbestos have been found north and south of the gold fields recently discovered 11 miles north of here, it was learned today. This tiny village of 350 population continued today to attract mining men and prospectors from widely separated sections of Canada and the United States, as all reports

tended to confirm the optimistic expressions of local residents as to the richness of the new gold fields. The gold vein runs 10 miles east and west straight through the bush country, and extends about three and one-half miles in width, according to experts.

Investment Trusts

(By Thomas D. Sheerin & Co.) Bid. Asked. Administered Fund 2nd ...... 18.21 - 19.37 Affiliated Fund, Inc. ....... American Business Shar Broad Street Tovesting -

Corp Trust Shares (orig) .... Diversifted Tr Shares ‘““‘B”. Diversified Tr Shares “C’.

Dividend Shares, Inc .... General Investors Trust .... Incorporated Investors . *Investors Fund Amer . Market St I simon: Corp.. Maryland Fund . Massachusetts Investors Mutual Investment Fund.. Nation-Wide Voting North Amer Tr Shs 1955. . North Amer Tr Shs 1956... North Amer Tr Shs (Orig). Quarterly Income Shares ... “Selected Amer Shares, Inc. Selected A Sh (Orig). selected Ce Jative Shares .. jelected Income Shares ..... State Street Investment Corp.. Supervised Shars, Inc (Dla.). ‘rustee Am Bk ‘“B” 3 Tr Standard Oilshares

» ENR ener URE assem rn: @ ene 2 i i

eu ANA RIAA IRYADDOEE

United Standard Oilfunds.... xBx-dividend.

Other Livestock

(By Unites Freee

FAYETTE, Ind, —Hog market steady, 210-23 Jbs., aif Sse IL 35; 235-260 $11 sal. 15;

150-170 1bs., "[email protected] 100-150 1bs., [email protected]: roughs, $9. 2 “down; calves, $9.50 down; lambs, $9@9.

Bonds of the United States Government, Its Territories and Insular Possessions

Federal and Joint Stock Liand 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 =

NEW YORK

Thomson & McKinnon

| 200-214 Circle Tower

A sta.

New York Stock Exchange. New York Curb Exchange. New York Cotton Exchange. New York Coffee and Sugar Exchange. New Orleans Cotton Exchange. Chicago Stock Exchange. Chicago Board of Trade. Winnipeg Grain Exchange.

And other leading Exchangin.

LI. 5501

JAPAN ANXIOUS FOR IMPROVED U. S. RELATIONS

Trade Commission Expected to Influence Tariff Regulations.

By United Press TOKYO, Sept. 8. — Japan wants better trade relations with the United States and intends to make an active effort in that direction as soon as America’s presidential elec= tion is out of the way. Attempts of the Japanese govern=

ment to have a trade commission established have been delayed, ace cording to the interpretation here, by absorption of the United Jraten in its presidential race.

The trade figures as released here show that last year Japan exported to the United States goods worth 555,000,000 yen, while purchasing in the United States goods valued at 809,000,000 yen.

“Despite this favorable situation,® says the newspaper Asahi, “the United States ignored its advanta= geous trade with Japan and has been raising tariff on cotton cloth, slide | fasteners, woolen gloves, ‘assessed a consumption tax on rape= seed oil and is now reported to ba considering a tariff increase on

porcelain and hosiery goods from Japan.”

Tariff Discussion Urged

“It is the objective of the Jap= anese government to have the trade commission established Be=tween the two governments and. discuss those goods liable to be. subjected to tariff raise. The pro= posal was made to the American government, and when Commercial Counsellor Inouye, now at New York, returns to Japan, Japanese government authorities will hear from him the views of the Ameri= can side in regard to the proposal, and they will positively call upon the interested quarters to assist in the formation of the commission.

Traders Recognized

+ . “The forthcoming America-Japan Trade Commission is designed to be composed of the authorities of the Treasury and State Departments on the part of the United States and the authorities of the Japanese Embassey in Washington, Japanese Consul-General, Commer= cial Counsellor, etc., on the part of Japan,

“The ‘traders of both countries are also to be allowed to become members. The commission is de= signed to function as a pelinanent institution.”

LOCAL CASH MARKET

City grain elevators are paying $1.03 for No 1 red wheat. Other grades on their merits. Cash corn, new No. 3 yellow, $1.03; oats, 36c. Hay—No. 1 timothy, $14.50@15; No.1 clover [email protected]; No. 1 alfalfa, first cutting, $14. 50@15; second cute ting, $16@17.

New Bond Issues

(By Lyons & Co.)

Bid. Allied Stores 4'zs ’51 Veianene 100 Arkansas Gas 4s '51 100% Associated Telephone 4s "85 .. L107 B & O 4'%s ‘39 Cal Oregon Power 4s ’66 Central Maine 4s '66 Central IilI' 32s ’66 Cincy Gas & C & O “E” 3las irsennn Chicago West In 4'2s ’62 Chicago Un Station 32s * Cleveland Tractor 5s '45 Columbus Railway 45 65 ..... Com Invest Tr 3%'.s '51 Conn River Pr D & Z : Consolidated Ojl 3'2s ‘51 ..... Cudahy Pkg gas ’55 Cudahy Pkg '50 1 Edison Tire iu 3s 65. . 107% Gen Motor Ac Corp 3s ’46...102%% Gen Motors Ac Corp 3%s ’51. 103% Indianapolis Water 35s ’66...101% Iowa South Ultiities 5la2s 50. Hs Kansas P L 42s ‘65 .109 Los Angeles G & Sug 4s '7T 70. Joussille 3 & E Bas ‘66 o & E is 0..

Okla Natural Gas 41; Okla Natural Gag 5s *46 Pacific Lighting 4!2s 45 Peoples gas Jie & Coke 5s i,

Railway Lite 3s Sagueney Powe: 4s "65 San Diego G & E 4s ’65. llll109% Southern Cal Gas 45 '65 ...,..108% Southern Fran 4lss He... 984 80 West G E 4s "60 103% Wisconsin Gas J % Elec 3'25 '68 103% Wisconsin Pwr & Lite 4s '65..100% Wisconsin Pub Ser '61 .....104%

to loan on _/morigages ot [CN 4 2O

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