Indianapolis Times, Indianapolis, Marion County, 14 September 1936 — Page 11

. Puerto Rico urchased 10 per 7 cont of all food prod‘ucts shipped from a United Ktates in the fiscal year 1935-1936. The island's food purchases were 17 per cent higher than in the preceding year, and were exceeded only by the United Kingdom's purchases.

ANNOUNCES GAIN SEARS’ INDIANA PURCHASES UP FROM '34 PERIOD

Increase of 16 Per Cent Is Announced by Store Manager.

Abreast of The Times on Finance

MONDAY, SEPTEMBER 14, 1936

rends|

Banks Not Impaired by Government,

Flynn Says. BY JOHN T. FLYNN EW YORK, Sept. 14—Prof. H. Parker Willis, | well-known ‘banking economist, in a recent magazine article says|/ that because of New Deal banking and money experiments America faces bank- - ruptey. Several readers have sent this to me for comment. It is, indeed, worthy of comment. Prof. Willis is an | able economist and one of the leading authorities on # banking. He is the author of

PAGE 11

FOOD, CLOTHING COST REPORTED To VARY MOST

National Industrial Board.

NUMBER OF COMMERCIAL FAILURES -BY MONTHS

WITH TOTAL LIABILITIES SOURCE: DUNS . INC,

MILLIONS OF DOLLARS LIABILITIES 100

EARLIEST FALL BUSINESS NEWS IS ENCOURAGING |

- 80 Reports to Business Week 10

Indicate General - |} Optimism.

NO. OF FAILURES

canhspnant

Expenditure of $13,172203 by ' Sears, Roebuck & Co. last. year for | merchandise manufactured in Indiana was announced today by S. W. | Shipnes, Sears’ ‘Indianapolis retail | store manager.

This expenditure represents a 18 | per cent increase over 1934 Indiana | purchases, Mr. Shipnes learned from | a survey made by the national office

Times Special i NEW YORK, Sept. 14. —Food and clothing prices fluctuated more freely than any other major .items in the cost of living during the period between 1914 and 1936, according to an analysis by the Na- | tional Industrial Conference Board.’ Sundries constituted the most stable item. Detailed data presented in a study |

of inflation. Yet | ducers reported the best August |

OF FAILURES

S. W. Shipnes

I think he draws the picture in some what too dark colors. His argument is that the gov- . ernment. | while not actually issuing paper currency, has been doing the same thing by issuing notes and| bonds and dumping them into the banks. This is true,

Mr. Flynn

i since 1929. Residential construction |

and reduced the number of emergency counties. Mail order houses {are reporting record

| gether with the fact that there were

sales for Au- | { gust despite drought, but heat, to- |

New Yo rk S hock Exchange Prices

of “Cost of Living in the United States, 1914-36,” just published by the board, indicated that food was the only major item to fall below the 1914 level during the depression. At -the low point in April, 1933, when the total cost of living had fallen, 28.4 per cent under the

| average for 1929, food had dropped |

‘Lamb Market Al Also Drops:

42.6 per cent from its corresponding average. The food indicator reached its peak, 149.2, on the basis of 1923

PORKER PRICES 25 CENTS OFF

Cattle Are Mostly

lin connection with the fiftieth ane niversary of the company. The fig« ure covered the cost of manufac- | tured goods purchased from 248 | sources in 86 Hoosier cities, the report stated. Total Indiana expenditures of | Sears in the same period amounted | to $14,967,253, likewise a 16 per cent

| increase over the 1934 total Indiana ..

expenditures. Besides merchandise purchases, this figure covered wages

| the Labor Day week, but there is { little danger that activity will settle

i as 100, in June, 1920. A subsequent | decline brought the index down to | 95.2 in August, 1922, . During the next eight years, it ranged between 96 and 114. Beginning in October, 1930, there was a | continuous declination until March,

and salaries of resident employes, $1,137,652; newspaper advertising, $405,568; and rents and taxes, $251,830.

Business Upturn Cited ] “There should be little doubt in

Noon. Prev. Noon Prev. | . close. High. N.Y. Close. . Close, |Sou R R... Va 2 NI U S Rubber .... 31% 31% 31% | Oils— | Union Pac 2 U S Rubber pfd. 74% fi4% “15 Atl Rfg ; 77 7a 277 5 | Wabash : Miscellaneous— { Barnsdall Equipments— Allis Chalmers... 544 7 532 Consol Oil 3 's | Am Car & Fay. . 46% 4 ) '2 | Am Can 125% 2 125Y2 Cont of Del..... 297 7 Am : Anchor Cap .... 18%; 18% 9 9 42% Brklyn Man Tr., 53 > 53

(By Thomson & McKinnon) i Prev. |

He points out that|all the banks have a total capitalization of $6.000.000.0000. This is their margin or cushion of safety. But they hold $18.000,000,000 of government obli= gations. If the government's credit was impaired 30 per cent, if would

Noon: Y

- Steady.

Hog prices were down 25 cents and lamb prices dropped 75 cents

Loco _. Houston new) Am Steel Fy. at the Indianapolis Union Stock-

practically wipe out the whole capitalization of all our banks. = n 5 HE intimates that bank deAX posits are not, safe because of deposit insurance, since the deposits are guaranteed by a deposit corporation and this corporation "has only $340,000,000 total resources of which $320,000,000 also are in government bonds. In other words, if the banks failed it would be because they are loaded with government. obligations, and hence they could not be saved by the guarantée of a corporation whic is also loaded with government

| down for any winter siesta, Business | Week predicts. | August tonnage, setting a new 1high for any month back {g March, | 3520, lifted the eight-month output 9 per cent ahead of that for 1935. fiat motor tonnage sure to swell | demand in the last quarter, and with railroad buying likely to expand sub- | stantially in veh current freight car requirement$ and the newly posted price increases, steel operations should easily touch the 80 per cent of capacity mark.

Freight Car Buying Better

While freight car buying in Au- | {gust fell below recent months, pur- | chases for the first eight months |

Mid Cont Pet....

p Phillips Pet Plymouth Oil ...

Texas Corp ..... Tidewater Assn.. Un Oil of Cal... Am Roll Mills... Beth Steel Byers A M ‘es Ludlum Steel ... 2 McKeesport ® Tin. Mid Steel ...... Natl Steel : Otis Steel Rep’ Iron & {Rep Ir & St pla 111 U S Pipe & Fdy. JS Steel .... } Youngstn 8 & T 80

totaled 39.183, which is better than |

: 18 & Steel 23%

Motors—

Bald Lo Ya Gen Ie “rk Car 57. Gen Elec 85 Gen R R

West Air Br. Westingh Elec .

Utiities—

3% [143 %

Am Pwr > Lis, 12% ATE ho

Am Wat Wis ban Col Gas & Elec.. & Sou

Int Hydro ‘Elec | . Interboro R T.. Int T&T. ... Lou G & E ‘A’... Nat Pwr & Lit.. 11 North Amer .... Pac G & FE ....3 Fup Serv N J... 2° / So Cal Edison .. 30%s Std Gas 8 8 Stone & Webster . 1834 7% 5% 16 4%

Burroughs Add ..27% Jd I Cas 55

713 Caterpillar Tract 73% Crown Cork ... 52 Eastman Kodak. 17574 Foster oY assler, . 34% Gillett Ja

4 Int Bus Mach...16813 Inter Harv ..... 78% Natl Cash Reg... 25%, em Rand 0 Ya Worthington Pmp 31%

Armour 6% Borden Prod Cal Packing: . Can Dry G Ale: Cont Bak "A" Som Prod

pid. 80

1933, when the index sank to its lowest level, 61.1, five points below the corresponding index for July, 1914, - Clothing Cost Wavers . The cost of clothing wavered considerably during the period from 1914 to 1923, it was reported. The board’s indexes for this item on the 1923 base were 58.8 for July, 1914; 169.3 for April, 1920; and 91.7 for December, 1922. From the latter date until the end of 1929, the index showed relatively little variation. During the depression, however, clothing prices fell more than other items except food, and at the low point in April, 1933, the clothing indicator was 38.5 per cent lower

yards today, 180 to 250-pound hogs | ranging from $10.55 to a high of |

$10.85. Cattle slaughter classes were mostly steady, practical top steers selling for $9.10 and the bulk of fed steers ranging from $7 to $8.65. Prices on hogs weighing above 250 pounds ranged from $10.70 down to $9. Two hundred fifty to 290-pound weights sold for $10.20 to $10.70; 290 to 300-pound weights, $9.55 to $10.30; 300 to 350-pound weights, $9.25 to- $10.20, and heaviest hogs, weighing from 350 to 400 pounds, ranged from $9 to $9.50. Lighter swine ranged downward trom $10.65 for top 160 to 180 pounders, to $8.50 to $9.25 for weights be-

the minds of Indiana residents that business showed a marked turn for the better last year,” Mr. Shipnes said. “As a member of a merchan= dising concern that has for many years been interested in the economic growth of this state, I am gratified that expenditure figures of my company indicate that it did a great deal last year to stimulate our industries. “During the six years from 1930 through 1935; Sears annually spent on an average of $10,288,575 in In= diana, exclusive of sums spent for supplies, traveling expenses, stores openings and remodeling projects.

than the 1929 average. The board’s index for the sundries group, which included such items as drugs, toilet articles, house furnishings, tobacco and carfare, has been relatively stable since 1920. The lowest level for this group was reached in June, 1933, when the in-

Average Is Bettered

“The very fact that our expenditures here last year were 45 per cent above the six-year average sounds an optimistic note, and does, we hope, foretell an even brighter future.” Sears’ report showed that of total

tween 100 and 130 pounds. Packing sows sold largely from $8 to $9.50, a few bringing $9.75. Hog receipts were 6500, with a holdover of 434. . Cattle Receipts Reach 700

Seven hundred cattle were on the

Auburn 1 Chrysler 90's Gen Motors Graham Mot Hudson . 3 Mack Truck ....

Western al : 892 89% Rubbers— Pirestone ....... 27% 27% 27% Goodrich 22% 22% 223% 2254 Goodyear 35% © 235; 23% “aii,

for any full year since 1930. In the first week of September, another | 1700 cars were added to the back-

obligations. : With all that Prof. willis says about the unsound financing of the government, the folly of dumping deficits into the banks, the threat ‘of serious inflation and the need for meeting government expendi-

Std Brands .... Un Biscuit United Fruit

Retail Stores— Allied Stores .... 13a

Assd Dry Goods. 2012 Best & C 62

Residential building “Tast month A overshadowed the rest of the con- | Reo 5% v

struction picture. With a volume of Studebaier STOCK MARKET

Yellow Truck in 37

tures out of taxes, I agree; But as to the consequences—I mean the probable consequences— 1 fear he overdraws the picture. First of all, there is no need for

{$100,522,500 contracted for | states, home building took first place lin importance in August, running 40 per cent ahead of July and 148 per cent ahead of a year ago, according

Motor Access—

Bendix Borg Warner ...

WEEK IN REVIEW

BY ELMER C. WALZER

Kresge S S .... Kroger Groce Macy R H McCrory St .... McLellan St . 1415 Marshall Field. . . 16v4

dex was 9.5 per cent below the 1929 average, the board reported’

EARNINGS DECREASE

market this morning, and calf receipts were 500. Choice heifers held ‘|@bove $9.15, and beef cows ranged from $4.25 to $5. Cutter grades sold for $3.25 to $4. Vealers were off

expenditure of $61,731,453 in the state during the last six years, $53,342,386 was for manufactured goods, $5,091,342 for wages and salaries, $1,821,028 for newspaper advertising

to the report. Part of the total represents Federal housing projects which have been coming forth in considerable volume since the end of July. Also gaining in prominence are>large scale home construction projects. Mining—

it now does and paying for'them > with Reserve paper. This, of course, | Motor Sales Show Decline Alaska Jun " i Am

would give an added impetus to’ | Motor sales have begun to decline, | Am Smelt ; inflation, but it would prevent the |but manufacturers are not worried Anaconda ro § banks from being wiped out by [about having cars left over. July | Do government obligations. | and August passenger car sales were a .zsl# the best for comparable months i since 1929, while truck sales in July AS to government guarantee of |proke all records for the month. The bank deposits, |I think it is a | seven-month truck figures similarly very unsound thing. But it is not true to sav the guarantee depends

(set a new high, surpassing even those recorded during the same peon the resources of the deposit cor- | poration with only | $340,000,000 as-

United Press Financial Editor NEW YORK, Sept. 14.—~The stock market last week advanced into new high ground since 1931, and then encountered aide After the Labor Day holiday leaders gave an enthusiastic demonstration on the buying side and the in- | Nor Am Av 8% dustrial average rose 13% points, rE irate Pe. | with sales exceeding 1,700,000 shares. | Chemicals—

$1.50, with the bulk better grades ranging from $8 to $8.50. With lambs 75 cents lower than Saturday, the bulk better grades sold mostly from $8.50 to $9.25. Slaughter sheep were 25 cents lower, fat ewes ranging from $2.50 to $3, top $3.25. Sheep receipts were 1000.

Elec Auto Lite. Elec Stor Fat .. 4 Greyhound Houdaille Murray Body ... Stew Warner ... Timken Roll .. Timken Det Axle 221,

. banks te fail because of a decline in government securities, because if that happens the government can redeem the securities through the Federal Reserve System with Reserve notes—buying its bonds as

and $1,476,697 for rents and taxes, ee rem— LS

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, $1.03; oats, 36c. Hay—No. 1 timothy, $14.50@15: No.1 clover [email protected]; No. 1 alfalfa, first cutting, $14.50@15; second Why ting, $16@17.

Other Livestock

(By United Press) CHICAGO, Sept. 14.—Hogs—Receipts. 12- | 000, including 3000 directs; market, weak 15¢ lower: mosty, Ji@lac lower than

| ENDS FIRW'S RECORD

Times Special CHICAGO, Sept. 14. — Archer-Daniels-Midland Co. reported for the fiscal year ended June 30 a net income of $1,891,612, equal, after dividend requirements. of the 7 per | Sept. Bulk. : * cent preferred stock, to $3.04 on each | 3: sig 2 b : of the 549,546 shares of common | 9. [email protected] The next day a decline occurred, a vans. 0, stock. This compared to $2,525,745 [17 }[email protected] and thereafter buying became more Du Pong Wok. 30% 160 , 182 learned in the corresponding 1935 | 12. [email protected] and more selective while selling in- Liquid arb .... 41% 41% «| period, equal after preferred divi- | i: 1950108 | |'creased. under cover of strength in |Monsanto Chem. 974 dends to $4.20 a share on 548.458 | (140-160) Good and choice. $ [email protected] individual issues. : : Schenley Dist . shares of common stock outstanding Lightweiglits Sua i» _850@ 9.951 10 avs A ET I Because of the holiday, business | joX SWI Suiph. in that year. (160-180) Good and’ choice. . 3.95a10.15 180-250 Tbs. $10.65 11: 250- 310 Ibs. $10.25@ statistics showed recessions, but Reduced earnings in the fiscal| ,.,,,, Medium ... .. .. [email protected] 11; better grade, 140-170 lbs. $5.75G 10.65 none was beyond normal. Steel op- Vvear recently ended marked a break Medium erations dipped only 4.6 per cent,

y 29% Roebuck. . 38% Woolworth 547

Aviation— Aviation Corp... 53% Boeing Aircft .. 29%, Curtiss Wright . 63% Curtiss Wr “A”. 19% Douglas Air .... 74

Receipts.’ - 1700

Kennecott Cop. . McIntyre Mine. Park Utah jt Phelps Dodge... St- Joe Lead .. U S Smelters. .. Vanadium Amusements— Crosley Radio Loews Inc Radio Corp .... ih

U 8 Indus Alco. Drugs— Coty Inc

9.90@ 10.65 Cattle—Receipts, 23.000: calves, $000. Not much done on medium and weighty steers, | 10.65@ 10.85

Medium Weights—

in a steady improvement that began 1200-220) © Good and chofce.

‘riod in 1929, the former peak year. sets. It depends upon the.govern-

Air traffic has been setting new records this year. For the first time ment of the United States and its assets. And one of these is its abil-

lin the history of the industry, pas- | ity to issue notes against its gold

reserve or without it to meet bank runs. This would, af course, be unfortunate and would have its own collection of bad |results, but it would prevent bank failures. When, of course, Prof. Willis says

i sengers carried exceeded 100,000 in | July, reports said.

} | release of the news of an unexpect-

| prices of both raw cotton and cotton cloth. { The Great Atlantic and Pacific | Tea Co.’s experiment with self-serv-ice stores in the Pittsburgh district

- Buyers rushed into markets upon!

Paramount RKO . vee 130 | Warner Bros.... 13% Tobaccos—

Am Sum Tob... 24% Am Tob “A”... 983%

Am Tob *“B” | edly reduced cotton crop, forcing up!

Gen Cigars L & Myers "B” Reyn Tob “B”.. Rails— Atchison

Atl Coast ‘Lines. B & O

Can Pacific

and were still far above a year ago. Electricity output for the week preceding Labor Day increased 20 per cent over a year ago. Car loadings for that week set a new high since October, 1931. Retail trade was 12 to 20 per cent over the corresponding week of 1935.

New Records Set

Un Drug Vick Chem Zonite Prod Financial— Adams Bxp

(new)

Lambert ...... 193 Sterling Prod . ri

157 45

4llegheny Corp’ 5 Int Cor 1

rp.

a PR ees Lehman Corp .. Transamerica ... Tr"Contl Corp...

Building—

79%; 109

13% 9%

in the 1930-31 year, and were attributed to unsatisfactory crop and market conditions, the report stated.

BABSON SAYS NATION SET FOR PROSPERITY

By United Press

(220-250) Good and choice. . Heavvweights— (250-290) Good and choice.. (290-350) Good and cheice..

[email protected]

[email protected] 9.25@10.

[email protected]

due largely to aporoachin ng Jewish holiday, but yearlings and light steers steady; she stock steady; general killing quality plain Supply steer beef comparatively small all heifers steady and bulls firm: vealers steady; about 10.000 Western Grassers here: ‘stockers and feeders opening stead: $7.50 down to $5: best fed steers, $10.25 prime heifers, $10: bulk,, better ae fed yearling steers, [email protected]. ‘Bidding lower on all weighty bullocks sausage O25: . $5.75 down: vealers, $8@10; few, $10 Sheep—Receipts, 22 000, Sine 7500 directs; fat grained lambs mostly stea natives steady to easier; top, .60 small killers;

WELLESLEY HILLS, Mass., Sept. 14.—Babson’s Reports, Inc, in a “barometer letter” announced today that-- “business now has emerged from depression” and “fundamental conditions are now all set for a period of prosperity. | The report, issued by an organization headed by Roger W. Babson, the economist who predicted the 1929 “crash,” said -Babson charts showed ‘business has at least reached normal, statistically.” “After seven years of crashing downward and struggling upward,” the report said, “the Babson chart business curve has finally come back

& Ohio i & Gt W’ Chi & Gt W pid. M& StL P...

(550-900) others mostly afoynd $9.25; G better grade range lambs, $9. [email protected]; sheep and feeding lambs weak to 25 lower: most ewes, $3.50 down; top to T5 . 9.00@10. % 1bs:, white faced lambs, $6. vigy. 78

FORT WAYNE, Ind. Market 15c lower: 160-180 Per 3 $103 30; 0: 30 $10.65 5: 243-250

will be eyed by other distributors. 8.00@ 9.00

Cutting of operating expenses through reducing labor costs is the i-obvious objective. If the Pittsburgh istore proves a success, others are pe Lac & likely to be opened it is reported, | Erie : heating up competition with other Erie pfd .. \ ‘pid » chains. It St ne

the borrowing policy is bringing infigtion, he is right.| That is actually already in progress. (Copyright. 1936 NEA Serv} ice, . Ine.)

New Bond Issues

(By Lyons & Co.)

Allied Stores 4%:s' 51.4 Arkansas Gas 4s '51 sociated Telephane 4s ° B&O 4 '39

General Motors reported its |Am Radiator ... 22% August and eight months sales to 3 consumers at record highs. United States Steel Corp. shipments of finished steel for August were the heaviest for that month since 1930. The eight months total was a sixyear high. Residential building during August, according to the Dodge reports, was the best for any month since

Libby Owens ‘Gls 673% Otis Elev 271; ] Ulen Cons 3% 3% Household— Co] Pal Peet. wey 15s 14% Congoleum : 331; 33% Kelvinator 20Y2 20% MonaWE Servet. 231, 23% Servel I 26% 26 tie Amer Woolen ... 8% 81% Celanese Corp .. 267s 26% Collins Aikman . 557% 5512

Chicago Stocks

(By Atkins, Hamill & Gates)

C (900-1100) G

5. 200 lbs.. $10.45: 200-225 Ibs., 9.00010.50 Ibs, $10.75; 250-275 1Ibs., $1 a $10.30; 300-350 lbs. $10; 130 160 lbs., : "130-140 Ibs.

6.500 8. an 140-150 1bs.. $0.35: -50 | $9.10 120-130 1bs.. $8.85; 100-120 lbs. 38.60.

C (1100-1300) G

8.50@ 7.75@ 8. Roughs, 38. 25; stags, $6.75; calves,’ $8.50 ! ifers lambs, $9.2 (550-750) 8.50@ 9.25 Sood Common, medium.

(750-900) Good and choice..Common, medium.

M (1300-1500) G

Fruits and Vegetables

(Quot batons below, subject to change, sre a average wholesale prices being offered to Yaar & Oregon Power 56... buyers by local commission dealers). | Nor Pacing Tre FRUITS—Pears — Michigan Bariletis, Penn R.. C

Ceniral Il 33s '66 | ad FE s 3 March, 1931, and 250 per cent Cincy Gas = Elec 3s "66 tas 3 7. | bu, $2.50. Bananas—Selected, - { Sou LR c..a3 421, 421; greater than in August, 1935, C &O0 PF 3lus : Apples—No. 1 Maiden Blush, 2%; Jes M Chicago West By . "82 up, 31.85, N o. 1 (early) Wealthy, in- erchandising companies reporta1 Cleveland Tractor 5s |'45 10 ches up, Si so. JL Summer Riimbo. 0s, Investment Trusts ed substantial gains in sales. MontColumbus Railway 4s '65. 0. 107%. 1071, | 37, Limes cMexican, carton. 12s. "22c | (By Thomas D. Sheerin & Co.) gomery Ward had an August total . Close | t0 its x-y normal line. If you need Com Invest Tr 30a 81 "104 Frsian scediess, per. 10, 3230. Peachos— | . Fy Bid Asked | 20 Der cent over August of 1935. Lhe | Advance Aluminum ... a. 9% | any encouragement for full power i ML BELEN ay Ble 's 991, | prunes, em, lg. Lit Grapes—Michigan | Administered Fund 2d 38 (stock made a new high tor the | Berghoff ’ ; 3 “| and top speed, this is the signal. ’ : 4 ncoras asket . is : 3 ut 5 cEugahy ThE Mee i | MELONS—Cantaloapes: ~. Home-grown. | American Busiiess Shares... year. So did Sears Roebuck. Sev: : _ 4 | Fundamental conditions now are all Bdison Iilum Boston 3!z¢ '85) 107 73 | Du. $1.75@2: Honey Dews, vine ripened | Broad Street Investing eral of the department store issues | Consolidated Biscuit .:....... / 11%2 | set for a period of prosperity.” Gen Motors Ac Corp (3s '46 . 102: } Watermelons—Home grown, 25@ tus Eng Ld : reached new high ground Sonunents] Steel ree - — Gen Motors Re Corp B'%s "51. { YEGET i y ar rust . - . 4 s Re Corp Bis I i ETABLES—Beans—Round stringless, | Corp “AA” or “Acc” Better business was reported tor sss Ra oath Utilities Tk 5 {.10f led | 22. le aa ae grown, doz... 25. | Gop As of Acc’ ‘he amusement be their Chicago Grain Futures - rg 2 rrots—OQhie 0Z., 45c¢. Cauliflower—12s, { Corp Trust fori > hs Kansas P. 1 4328 "65 | tL Crate, F108 Cabra er L, | ero Sh go stocks turned very active. Several, {BY James BE Bennett & Co.) Piev including Loew’s, mounted to the High Low Close | best levels of the year. Paramount 13% 1131s 1. 1.12% 3 : 1.121 1% 113 | issues particularly were active. ii itve 112 110% } Good : : Nachman Spring Filled | ane is Common and medium Sn Railroads Lose Gains | Williams Oil-O-Matic ) possibly salable to y EEP AN n ; af . 13% 12 is A | SH D LAMBS Receipts, S2jurder—Cautle, Baking issues had several good | . Fas eit ald apy 81% Artie, “337

Louisville G & E 3!25/'66 ... M : ee vy : & "70 -Michigan. bu., $2. Corn—Home- -grown, ; Diversified Tr Sh *D Lou & Nash’G & E 4&5 '7 | doz.. 256 30c. Kale—Home-grown, bu, 65c. | Dividend Shares. Inc Saturda ®_Cartie, 33; i sheep, none. day. Favorable railroad news at ; (By Atkins, Hamill & Gates). IBde....... 436 a2 : 4275 one time carried the rail average | No . Bn As Eh

MeCrary SoTL 31. | Lettuce—Jceberg, California, 5s, $4.50; leaf, ; General Investors Trust ..... Miwon £2 be ir 5 | aha Rome proms “Sh yy SEPPL | Incorporated Investors | N.Y. Ewes— to a new high since 1931, but the A aan of Ameria. : Be | a : 2.82 Hoo Com: and mediim’ i504 3 gain failed to hold. Utilities were Amer Gas and Electrio 44 oo ‘80% “801 2.79% (Sheep and lamb quotations on clip, steady most of the week. :

x it El 68 .... 1033 13% Hi NY ChisSt Js 3 “Tes . | basket, 50c: doz. 25c. Mint — Market St Investment Corp. 2 *Maryignd Fun . May . . 80% Amer Genere : basis.) Amer Superpo (a)Asked. (b)Bid. : A . * - ae] fuss Vers, prominen; on Money and Exchange Building Permits ps Severa sessions and Blanch Trester, 614 N. Hamilton-av, al-

. ' = - a7 Onions — Northen vello 50- 7 Ne New York Edison 3s 66 ...| ellow, a Soc. Fi rare) Oa gas st. ] ‘eg 9% Farsley. i et doz, 40c Re Massa usetts IR 5 146 3 atoes— ast- | Mut I + Okla Natural Gas 5s ern Cobblers, 100-1b. bag, $2.65. Sweet Po- Notion. Ne Toe und . N American Tr Shs 1953 . Ark Natural ¢ — (A) Atlas Corp the leaders made new tops since INDIANAPOLIS STATEMENT terations, 1931 before meeting opposition. Cleatings piv Sourwine, 2718 Station-st, baseSteel experts anticipate the price in- 155 Hampton-dr, garage, crease inaugurated by Carnegie- 0. Borgett 702 8. Holmes-av, ad-

Pacific Lighting 4'2s 145 7.105 13 oF > Coke 3s 1 |] oes—Eastern Jerseys, bu.,, $1.50. RadPeoples Gas L & Ceo oa s | hes — Ohio white. 2-doz basket, 85¢./ N American Tr Shs 1956 | i Illinois to be made general for the 95 dition, $150 fourth quarter. Humble Oil os ela Co. as, WASHINGTON, Sept. 14. —~Government Security | Trust Co., 2101 N. Meridian-st,

is Penn R R 33s '70 Sage—Doz.. 45 - ) 4s 05 ic. Turnips—New bulk, bu. Penn Tel 4s oe Tomatoes. ~-Home-grown, l2-bu. bas- SSuetican Tr Shs tong)... International Vitam Ya + | ‘expenses and recei ts for the current fis- | stoker, § Stoel Copper metal rose toward the 10- Hy § 4 cal year to Sept. as compared with a t RB. R. Jards: Co.. Union Stock Bare $

(By Times Special) LOUISVILLE. Sept. 14. —Caule—Rocaita, 2000; liberal proportion of beef in with receipts; largest of season; ary sales, better-grade slaughter steers, steady to weak: little done on lower grades; indi= cations around 25c off; other slaughter classes of cattle unchanged; load strictly good 845-1b. yearling steers, $9.35; several loads medium an ‘dgood, $7 @8.25; bulk - plainer kinds to sell, $6.50 down; bettergrade heifers scarce; bulk grassy kinds, $7 down; butcher cows, $4@5; low cutters and cutters, mostly $3@4; bulls, largely ws 5 Calves—Receipts, : vealers opening slow; few early sales around $1 lower than Friday; better grades early, [email protected]; few

Hogs—Receipts, 60: hog market, slow: early sales 20c lower than Saturday or 406 under last Friday: best 200- 1b. butche ers, $10.60; 180-195 Ib. wey hts, $10.35; 755

Com 300 Ihs.. $10; 305 Ibs, up, $9.55; i435 1300-1050) Zod anf choice. SMa 7 175 Ibe), $9.20; 120- 140 Tbs.. "$8.50: ‘sows, ’

Sheep—Receipts, 1200: opening sales ‘at | lambs around 25c lower than Friday: bulk better grades, $9: choice kinds scarce and

"2635 26%.

55%

Common and medium Low cutter and cutter Bulls, go :, Cutter, com. and med. bulk. . Vealers —Receipts, 500—

Good and choice Medium Cull and common

Chicago Un Station 3, s ‘15. inches up, Sods.

$1.75.

(250-500) Good and choice .$ 6.00% Common, medium 4.00@ Feeder and Stocker Cattle £500-800) Com. and choice .§ 6.00@ m. and medium. 4.50@

Dixie Vortex cup Economical Drug . Electric Household .. General Household . Great Lakes Dredge .......... 31 Wheat— Jarvis Mfg /. . A Te | Sept. Ken-Rad T & L / Dec. Lincoln Printing

233; calves, sive Shipments, Pra ves, hogs, none;

Pe CAD CO CN mT CNN OC ST RD BD

Ph a Bh OT hd CD) CA ht a BD CD C0 1D

i Sejecied come Shares The prices quoted § } State t Investment Corp... outhern Kraft 4s 148... .| ! P. quoted are paid for stock | rv Soutien GB as oh 5 2 i in the country, while delivered | Jorero So She Ibe (Del.). Wisconsin Gas & E 3l.x "68. | in Indianapolis the price is a cent, higher.)

Trustee Am Wisconsin Pub Serv 4x "61 Heavy breed hens 5 Ibs. and Carrier Creole Petroleum Co eine — Elec ‘Bond ‘and >

Po GD ED bet i BD Gd ht OD 7

: Trustee Stand Oilshares ° a under 3 br 13 over, | Trustee Stand Oilshares “B”.

Leghorn breed i colored springers. 13 Ibs. and United Suandsrd Oilfunds. .

l S; ie ’ 253homn asingers, 133 Ibs. ———ia \ . \ : ucks, white, 5 Ibs. Tr * / 0 CU f es d up, 5c: geese, . full fea / ‘ ca e rt 1 sizes, 4c: all guineas. 15 pitied, 10 i U nlisted Stocks By pingianapeli is Bond and Share Corn. } oss Re iBy Blyth & Co.) eh following quotations do not repre- s S sc t actual bids or pfferings. but merely NEW YORK STOCKS Bankers Trust Central Hanover

7,611,000

TREASURY STATEMENT Gulf Oil Corp of Pen (By United Press) *

indicate the approximate market level Fe. under 55 lbs. based on buving and selling inquiries or Sulter, B@39e: recent transactions. 4c. BONDS Citz Ind Tel (T H) 4's '81.,

made. ° N& |

Potomac El Rowe 3! is : "86. . J sets $1; bu, $1.75 *Selected American Sh Inc Sagueney Power 41s /85 3s Sue cent level abroad despite a move of | Irving Ai Chute Ith 137 7° a §O- B Marin 1536 Broadway, repairs,

Pub Serv N H 32 —— ~ Railway Lite sis Rises - | selected American Sh (orig) .. i electe umulative Shares . San Diego G & L 4s 165 .. | os | Produce Markets : Southern Cal Gas 4s 66. ......106° =1 This Last ‘Yea {By United Press) foreign ucers to step Up OpP-|Iong Island Sind 3 Ne i EA 31.150. 164. 184 $1 | "Standard Nut Margarine Co.. 1101 Roose102 CHICAGO. 'S SS | Continental erations Oct. 1. Copper issues velt-av, addition, $88,000. | H Tel & Tel Pt W 5lzs "43 ., r Spt. 14.—Eggs—Market easy; | *Guaranty H Tel & Tel Pt W Bs "43 | 3 pTeipts, 10,340 cages: fresh graded firsts, *Irving Indpls Railway Inc ps 87 .i. 7 aia ass. Tohechs oc. Ne; cur: Manufacturers ... Js 99 5 Butter—Market weak; receipts. 8452 tubs: Nationa] City sereas extra firsts (90-9112 score). 33%.@33%c: N ational Boston ... .. extras (92 score) 34 Ye: firsts, 32@32!zc: ational Shawmut .. Noblesville H L & FP Blas "47! ; Spicials, Mi Ete; standards, 33ac. ; FIRE INSURANCE Ohio Tel Serve 6s "47 ... 100 102 i — €l easy. receipts, 71 trucks, | Aetna Pire Insur lo asl Sore 62 41 {2 cars; geese. 1l@lsc: ducks, 1118c: | ogina Fire In: uranee dividends or extras. Air Reduction Sterchi Brothers Baltimore American echnin

dah 2 Seymour Water Co 55 "49... spring chickens, 141:@20c: hens, 13630c. led with a $1 extra. TH Trac & I, Se 0 ge [iE 18@19¢; broilers, 15@16¢: leghorn -City of New York $ a incoler, ine, Franklin Pire ...... /.~ . I’ Cheese—Twins, Pederal Insurance ; : bo JACKSON-EWERT, INC. Home Insurance “eid National Fire U 8 Fire Westchester Fire

Great American Insurance . - Investment Securities National Liberty _"Ex-dividend.

. aD Molybdenum Corp of Amer.. 86. 454.142.375.58 gained here as well as in London. Nail Be ss" Hess 1n 3 Improved statistics for the oil in- |}jlakara Hudson Pwr... dustry helped sustain prices of nnroag Gor Alivags stocks.

Pennroad Corp Several companies declared highér

*recany

ACCOUNTING CLASSES Downtown Evenings

Convenient Open to Anyone

,620.74 9,219,102,186. 09 71,715,773.38 77.820,302.42 |

Notice to Holders of Indianapolis

Water Company First and Refun Mortgage Gold Bonds, 4% % due January 1, 1 Notice is hereby given to all holders of the above Tt Bonds, that Indianapolis Water Company has called'same for redemption and yment on January 1, 1837. and has deposited with Bankers Trust Company, one of the Trustees under the Mortgage securing same. the total amount necessary to redeem and pay all of said Bonds outstanding. with a premjum of 4%, together with accrued interest to

MUNICIPAL and CORPORATION pi is ge date the motion a

“BONDS and STOCKS | Such Bons, i Eras spurns | Fees $15 a Semester INVESTMENT TRUSTS iss

Customs. .

10 Stores Pps Muncie Water Works/ 5s '65 |

Invest Your Savings

Where SAFETY Is ;

notone Sterchi Brothers Sore

hens

FH Water Works 5s '56 |. 11@14c: old roosters, 13@l4c. daisies, Asa !18%,c; longhorns. 19@19%

T.H Water Works 5s "48 ..7.[.103 18 a lake: Potatoes—Supply Moderate: demand moderate: market Aosta Idaho Russet But. banks, $2. [email protected]. U. S. No. 2, [email protected]: Idaho Ps mone $2.50: New Jersey {olislen 250, bom Fobalers, $2.05; : nnesot 0 Sonttal Ind Power. pfd. 7s 25:3 ‘Cobblers. *51 01 75. 247 Neueasad BE | Wayne : 5212 Arrivals, 142: on “track. 215; ugs, Inc tas 7 8 Saturday and Sunday, 780. 88 ——a

Trac Terminal Co 5s 5 ool Indnls Water Co 2'.s :

STOR

Introductory, Intermediate, Advanced Problems, Cost: 1 Accounting, Statistics. A staff of highly trained in-

,8tractors Including two certified _ publie accountants.

ABC Brewing Co. com Ta Eoit Railroads & & otk Yds. com 57! : Rallroad & Stk Yds. .pfd 36

Hanover Fire Hartford [North River .................. _ . shipments ; Phoenix . .

NEW CIGAR LIGHTER ouT

Times Speciat 0 BRIDGEPORT, Conn., Sept. 14— 204k Century | : Casco Products Corp. has perfected | : : \

and placed on market a thermo- eas Li-6122 § | ® statically controlled cigar lighter |} DRAWINGS OP PL ANS. RECORDS Bro ! R ond D. Jack , | for automobiles, on which it has | J Top size 14x30" —In Colors—Any. Paper § | 131 aymon ackson i 0415 | fully controlled patents, company Bornis Letter Service | 9 Merchants Bank

on and after Janua at the ww said A wide range of business, proSvat £ 16 Wall ry New York fessional and cnitural eourses: - ew A a aSeiy Bt ihe P Principe; over 100 classes starting Sept. 17.

) redemption ; amount of such Bonds, together with said Ross T. Ewert Srmin [02 accrued interest thereon to Indiana University » » E i » [

Telephone, LIncoln 2851 A blSatoL WATER COMPANY

rv pfd Forthern Ind Pub Serv iq Progress Laundcy Co Pub Serv Co of Ind pd 8s Pub Serv Co o aH td 5 hein Sas 2 pfd

ATKINS

SAVINGS & LOAN

122 E. Michigan. RL 4207