Indianapolis Times, Indianapolis, Marion County, 15 September 1936 — Page 16

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Trends 1ren Enrope Is Heading

to Catastrophe, Flynn Says.

Abreast of The Times on Finance

PAGE 16

TUESDAY, SEPTEMBER 15,

1936

Argentina closed its fiscal year, 1995-36, with a surplus of 27,100,000 pesos. Receipts amounted to

applied to debt reduction.

$351,,66,600, 8.3 per cent above budget estimates and 6.5 per cent over 193}-35 revenues.

The surplus was

C0-OPERATIVES'

EW YORK, Sept. 15. — There are two phenomena to keep an eve on in Europe now. One, of course, has to do with the cleavage, not between nations, but between classes—the persistent sharpening of the lines between Fascist and Communist groups in all countries. The other has to do with the finances of individual nations. Out of these two festering sores will grow whatever conflict arises-in Europe. It i= for this reason the news from France isso important. Here I will speak only of the financial sit tion. We Rave A informed that France will spend anot her billion dollars on armaments. . Instantly one asks—where the billion to come from? France has faced deficit after deficit for several years. This vear, the Minister of Finance announces the deficit will be about seven billion francs—about 480 million dollars. But this does not include the extraordinary budget. France, like ourselves, keeps a separate account of: extraordinary expenditures due to depression or war outlays, How much that will be I can not say. But it is great.

Mr. Flynn

” n

N top of this, now she propose to pile aothes billion dollars for war preparations and some one must pay the bill. The government apparently does not intend to tax. Instead, it talks of lightening the load of taxation to make up for certain concessions to labor.

With a growing deficit the government. speaks of easing taxation, which is a desperate suggestion. Hence it proposes to get money by . borrowing—and borrowing from whom? One ominous proposal is discussed. The French have been doing what the American government has been doing—borrowing from the banks—at the Bank of France, to be specific. The Bank of France has discounted about 14 billion ~francs of short term notes. But the bank must lend more. And now the bank is controlled by the government. These short term bills keep on maturing. And as they mature, they are going to be replaced, we are informed, by noninterest bearing bills—a form of currency. Then the government will borrow qn additional 10 billion dollars of interest bearing

Sbligat ions.

z = =

RANCE holds fast to her gold > standard, but here are all the elements of credit inflation by a government which is torn by internal difficulties and surrounded by enemies on every side. To this amazing race in armaments in Europe, of course, there Rist be end. The end must come Sher in war or in internal finanTial collapse and inflation. . France, Tike all the governments in Europe, can build armaments and invent money to pay for them through bank credit as long as all the purchases are made in France. But any armament program means also buying abroad. And to a country, like France, suffering from a persistent import surplus, buying abroad means further losses: of gold and quicker exhaustion of credit. Surely Europe rides swiftly to her doom! (Copyright, 1936. NEA Service, fuel

Local Securities

{By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offerings. but merely indicate the approximate market level based on buving and selling inquiries or recent transactions. oy BONDS Citz Ind Tel (T H) 4'ss 104 512s 105 106

'61...102 ...104 H ..10313 Indpis Railway < B1 Interstate Tel & Tel 5lzs '53 .. 99 okomo Water Works 5s '58..104 Morris & 10 Stores 5s '50 ...100 Muncie Water Works 5s "65 .. Noblesville HL & P Stes 47.. Qhio Tel Serve 6s '47 ........10 Richmond W W 5s "57 Seymour Water Co 35s 49.

Trac I, 5 '5' - Indpls Water Co 3'23 . STOCKS

ABC Brewing Co, com Bolt Railroads & Stk Yds. Belt Railroad & Stk Yds, Central Ind Power, pid, 7s .. Home Tel and Tel, FL Wayne... Hook Drugs. Inc ind & Mich Elec Co pid Ind Gen Serv C Ind Hvdro Elec oe 1s Indpis Gas Co 6s .. ci issn 8 Indpis Pwr & Lt Co pid 8 ..s jodpis Pwr & Lt Co pid &: 98 Indpis Water Co ptd 3s Nor Ind Pub Serv pfd 525 ... Northern Ind Pub Serv pid 6s Northern Ind Pub Serv pid Ts Progress Laundry Co _ ee Pub Serv Co of Ind p 6s. Pub Serv Co of Ind ney Scutiiern Ind {Gas s El ptd 83 12 Terre Haute Elec Co 6 % ° , Union Title :

Unlisted ted Stocks (By Birth & Co.) NEW YORK STOCKS

Bankers Trust . Central Hanover

‘ ‘a ‘com 57a pfd 56 2313 37%

Continental

Manutactu National City First National Boston National Shawmut ; FIRE INSURANCE

Aetna Pire Insurance ; . sAmerican Ins of Newark Baltimore American City of New York Franklin Fire Federal Insurance Great American Insurance Hanover Fire . Hartford cre ~ Home Insurance . National Fire cin National = iberty

-»

: v 8 Fire- ‘ Westchester Fire > *Ex-dividend.

| Admittedly

§. TRADE SET

AT NEW PEAK

u. S. Associations’ Business |

i | i !

Estimated to Reach | $500,000,000.

BY VINCENT LYONS Times Special Writer NEW YORK, Sept. i sumer co- -operative associations in! | the United States in 1936 will

: i

} i f $

| approximately

| Telegram survey shows. This volume, a new peak figure, { represents an expansion of $135,- ! 000.000 in the annual turnover since | | 1933. Retail

€0-0ps penetrating every |

| section of the country, with the ex- | the deep South, now |

Although dwarfed in actual num-:

| people were confronted with the |

{ task of making savings on their pur- | chases. -

President Studies Move

| The subject of consumers’ co-oper-jatives, a political taboo since their, |gospel was first preached fn this {country, shows definite indications of | being brought out into the open. | President Roosevelt, purported to be | | interested in the movement, signal{ized the new attitude toward co- -ops | |W hen he recently dispatched a dele- | gation to Europe for the express purpose of investigating the strides | made along those lines ahroad. Due to return this month, the i findings of the group will, in all like- | lihood, be submitted to the Presi- | | dent before the national elections {two months hence. Whether the | | Chief Executive will care to givé the |

| movement his baptism is problem- | Reo

| atical.

However, it is suggested in|

{Some quarters that co-ops are directly in line with the Administra-

{

Educational Group Helps

in its swad { clothes in this country, ung] operative movement, naturally has had to pay the price of inexperience. Racketeering, which embarrassed proponents several years ago, has been pretty well stamped out. Of great assistance in this connection were the educational groups launched in an effort to smooth the way for the tyros in the field. First and foremost in the cooperative parade in this country are those associations which purchase the supplies for the farming population. In second place are those units having to do with petroleum products, in third place the insurance companies and in fourth position groceries and general. merchandise. Grouped behind these leaders are operations pertaining to retail milk distribution, restaurants,

leges. Similar to Labor Unions

One other field in which the coops are making good progress is the rural electrification field. Although the New Deal's Rural Electrification Authority is attempting to bring the benefits of power to the farm territory, bands of eitizens in certain areas are taking up the cudgel for themselves and forming their own utility companies. Organiztion of consumers through co-ops represent a distinctly different proposition than organization of producers and marketing co-operatives, of which the more popular are Dairymen’s League of | New" York, the California Fruit | Growers Exchange, Farmers Na-| tional Grain Corp. and the Land; O'Lakes Creamery.

LOCAL CASH MARKET City grain elevators are paying $1.05 for No. 1 red wheat. Other grades on their merits. Cash corn,

Hay—No. 1 timothy, $14.50@15; No.1 clover [email protected]; No. 1 alfalfa, first cutting, $14.50@15; second cutting, $16@17.

Investment Trusts

{By Thomas D. Sheerin & Co.) Asked! 19.28 2.24

Administered Fund 2d Affiliated Fund, Inc American Business Shares .. road Street Iprestng Bullock Fund, Ltd Century Shares Trust Corp "AA" or “Acc” Corp "AA" or Acc’ (unmed) Corp Trust Shares (Orig) .. Diversified Tr Shares “B'’.. Diversified Tr Shares “C'.. Diversified Tr Shares Dividend Shares, Inc General Investors Trust Incorporated Investors “Investors Fund Amer . Market Street Inv Corp .... *Maryland Fund .. Massachusetts Investors Mutual Investment Pund Nation-Wide Voting . North American Tr Shs 19853. American Tr Shs 1936 i th Amer Tr Shs (Orig). Quarterly Income Shares | *Selected Amer Shares. Inc . {| Selected Amer Shares (Orig). | Sel ected Cumulative Shares.. Selected Income Shares State Street Inv Corp .. Sup Shares, Inc Pawaie) Trustee Am Bk B . Trustee Stan Oilshares spr Trustee Stan Oiishares “B” United Standard Qilfunds .. *Ex- dividend.

— et OD ee BI CDE & G wo

po. Pk ot

116.00 | 15.66 |

1.10

15. —Con-|

{tion's aim to curb giant monopolies.

telephone lines, and co-ops at col- |

new No. 3 yellow, $1.03; oats, 36c. B

w= PROGRESS OF GENERAL BUSINESS

20 |

9.3 ver cent

COMPOSIT BUSINESS ACTMITY END OF AUGUST

BELOW

WORN, compangr wirw 23.1 A van ago

-0

i i

1 TVET °F)

-30 -40 -30

THE PARNER CORPORATION cewgmaL DISTAWUTORS (NCORPORATED INVESTORS

slightly. years. | Although wholesale commodity reaching the high point

tively light. points during the month, rails

prices went

Business activity continues upward. August ended with the index only 9.3 per cent below normal, the highest it has been since July, 1930. Adjugted for seasonal variations, August showed a gain in steel mill ac~ tivity, electric power preduction, lumber production, and cotton mill activity, while freight car loadings and automobile production declined Commercial failures were the smallest in number for many

up during August,

loss for the month. The securities market was firm with tra The Dow-Jones industrial average gained went up 1%

since last January, they ended with a slight

rela-

aboufi 11%

points, while utilities

dropped slightly. The Dow-Jones average of 40 bonds gained nearly

| one-half point.

New York Stocks,

{ (By Thomson &

eo Low 11 a. m. Close Oils—

McKinnon) “Prev.

i Atl Ri { Consol Oil Cont of Del Houston (new) Mid Cont Pet Ohio Oil Pet Corp Phillips ‘ae Plymouth Oil Pure Oil . rvs Seaboard oil’ Shell Un

BI pt ps BO DO

SBI BI 00 80 BI = i pe PS

RC a

Wr EN

Texas Corp Tidewater Assn. Un Oil of Cal.. Steels—

Am Roll Mills Beth Steél Cruc Stéel Inland Steel ....

St | Rep Ir & stl pfd 11 ju 8S Pp & Fdy.. S Steel lu S Steel | Warren Bros ... 3% Warren Pipe&Fdy 28 | Youngstn 8 & T 81% Motors— | Auburn | Chrysler | Gen Motors [-Graham Mot. { Hudson . Mack: Nash Packard

Studebaker Yellow Truck

Motor Access—

| Elec Auto Lit .. | Elec Stor Bat.. Houdaille | Murray Stew Timken Roll Timken Det Axle

Mining—

Alaska Jun Am Metals Am Smelt Anaconda Cal & Hecla.... Cerro De Pasco. Dome - Mines

Howe Sound Ins Copper Int Nickel .... Isl Creek Coal.. Kennecott Cop.. McIntyre Mine. | Phelps Dodge .. St .Joe Lead.... U S Smelters... Vanadium Amusements—

Crosley Radio .. Loews Inc Radio Corp Paramount RK

32% 59 11% 11 Ta Warner Bros .... 13% Tobaccos— (B) Gen Cigars Lorillard . Reynolds T Safle Atchiso

.-101% 5512

Ww. Chi 5 Gt w pfd CM& St P. ni N W pfd.. Dela & Hud... Del Lac & W.... Erie Erie pfd 3 Gt Noranern pfd Ill Central 2 177s : 39%

Mo Pac pd. .is IN Y Cen NY You Haven 4% {N Y Ont & West 57s Norfolk & West 2 Nor Pacific { Penn Reading Sou Pac Sou R R Union Pac Wabash . West Maryland. Equipments

Am Brake Shoe. - . 6213

8 44%,

Pullman Inc ... West Air Br.... Westingh Elec Utilities— Am Power & 4, T &

CMTC pd hdd hdd BIDY ~The

Lt. 13

I AVBON ips ae oan

Western Union : Rubbers—

Firestone Goodrich Goodyear ....... 8 8 Rubber ... 31 U 8S Rubber pid Miscelianeous—

Allis cohen . 543%; { Am C 124 | Am Mach & Fdy 22% i Brklyn Man Tr. 533% | Burroughs Add . 27% | I Case 152 ; Contl Can. | Crown Cork | Curtis Pub

Bus Mach r Harv ...

| Natl Cash Reg.. 0 «141 20

wens Bottle Rem Rand Underwood

Foods— Am Sugar Armour. Armour 6% pid. . Borden Proa Can Dry G Ale. Cént Bak A.. Corn Prod

Gen Bakin

Std B Un Breen United Fruit

Allied Stores Best

Gimbel Bros ‘Gm Un Tea. Kresge S S Kroger Groc Macy R H McCrory St McLellan St

May D Mont Ward Natl Tea Pehney J C ... Safeway St .. Sears Roebuck. . Woolworth

Aviation— Boeing Aircft

Curtiss Wr Douglas Air Nor Am Av Sperry Corp ... Uni Aircft New.

Chemicals—

Du Pont

Math Akali

Drugs— Coty Int Lambert Lehn & Pink Sterling Prod Un Drug fhew), Vick Chem , Zonite Prod Financial— Adams Exp .. Allegheny Corp... Chesa. Corp... .. Lehman Corp Transamerica ... Tr Contl Corp.. Building— * Am Radiator .. Gen Asphalt .... Int Cement . Johns Manville Libby Owens Gls Otis Elev Ulen Cons Household— Col Pal Peet.... Congeleum “ens Ke=lvinat Mohawk Carpet. Servel Inc ...... Simmons Bed.... Textiles— Amer Woaolen.... Belding Hem . Celanese Corp.. Collins Aikman.. Gotham Mose .e Indus Rayon. Kayser Juliu

Wheat— High Sept. 1.12 Dec. .... 1.10% May . 1.097 Corn— Sept. -.... 1.1234 Dec. ... 9473 May 190 Oats— Dec. May Rye—

May .... 79% *Bid; tasked.

stoker stoker, $544

basement, 5. 50.

st, pEazage, $200; Rodger ao tions, $140 Gulf Renning sts, sign, $200 Claypool Hotel, sts, elevator rep Armour Co., repairs, Gof,

son-sts, garage White, $165.

garage, arage, Ses. shed, ations, $240, Pr C. Daniel,

ations, $250. : . Eisele, $200.

Worthington Pmp

Air Reduction .. Am Com Alcohol. Com Solvents -..

Freeport Tex ... Liquid Carb .... 41 wees 34, Natl Dis (new).. Schenley Dist... Tex Gulf Sulph.. Union Carbide.. U 8S Ind Alcohol.

Frank Jurancie,

High. Low.

253%

6 Cuban Am Sugar I

S Pole Rico Sug ‘ nds 1

Ward Bak B.... Retail Stores—

13 Assd ‘Dry Goods Co 6 First Natl Stores 3

Marshall Field. . ept St....

Aviation Corp .. Curtiss right, . 1

21% . 2514 76%

262 16

25%,

29% 44%

1953

B 713,

31s

13% 4 795% .109%

131s 834

217% 24%

«av D478 .114%,

6812 28

3312 20% 2 878 3

8. 1414; 27 5612 103s 33% . 25%;

Reliance Specialty Co., Bowes Seal Fast Corp.,

Circle Construction Co., dwelling, 748-53 Mass.ayv,

Co.,

airs,

1395 Hoffman-st, Inland Proper Main and fergu1324 E. Ohio-st, J Aberdeen Realty Co. $200; dwelling, AL Hen Realty Co., 2 $200. Bannah Peters, 4010 Guilford-av,

Charles Bernstein, 849 Indiana-av, alter-

141 37

1% 30%

2709 WW. St. 1948 Talbot-av,

Noon... Prev. N. XY.

25% 4 Tha 30%

25%,

Chicago Grain Fatnres

(By James E. Bennett & Co.)

9:45 a m. 1.12 1.107 1.09%

Prev. Close

1.1234 94% 90

42%, 42%

82% .81 19%

Building Permits

award Rietel, 333 Wisconsin-st, furnace,

2231 Mass.-av, 226 N. Pine-st, Clair-st, altera- . 8t. Joealtera-

6075 E $40 500°

Michigan and Noblewasn

Jngton and Illinois~ Ray-st, elevator

repairs,

garage,

5255 N. CapitolS200. . Sherman-dr,

19 E. 52d-st, alterations,

J. C. Schaf Jr., 136 W. Market-st, alter1226 Parker-av,

furnace,

close. | Alabama and Texas, according to

Rush Jobs Make Us Smile

Hendren Printing

Company, Inc. 170 CENTURY BLDG.

RI1-8533

STATE BANKERS DEPART TODAY FOR CONVENTION

Special Train to Take Group to San Francisco Meeting.

A special train carrying Indiana bankers, members of their families

{and friends and bankers from 143 other states is to leave the Unies 3

Station at 6 p. m. today for San Francisco where the American Bankers’ Association convention is to be held Sept. 21-24. The train, “The Indiana Golden Gate Special,” is to return Oct. 4 after an 18-day tour of the West and Southwest preceding and following the sixty-second annual convention. In addition to Indiana bankers, the train is to carry representatives from Illinois, Michigan, Iowa, Oklahoma, Ohio, Kentucky, Pennsylvania, New York, Virginia, West Virginia, North Carolina, Tennessee,

C. B. Enlow, president of the National City Bank of Evansville and state organization president. Stops en route to San Francisco are to be made at St. Louis; Kansas City, where the party is to be taken on a tour of the city by the Kansas City Clearing House Association, Pueblo and Colorado Springs, Colo., and Salt Lake City. The return trip is to include visits | to Yosemite National Park, Boulder ! Dam and the Texas Centennial.

Make Reservations

Hoosiers making reservations for the trip include Mr. Enlow, Don E. Warrick, @mdianapolis, association secretary, and Mrs. Warrick; Vernon Hinkle, Indianapolis, party manager, and Mrs. Hinkle; H. D. Hagan, Indianapolis, assistant party manager; Paul Buckler, Indianapolis; J. G. Iglehart and Louis Ruthenburg, Evansville; Mr. and Mrs: W. O. Osborn, Culver; Miss Lelia Partlowe, Charles Remster, Miss Minnie Mayer, Miss Katherine Redden, Mr. and Mrs. Homer Rogers, O. P. Welborn and Louis Ludorf, all of Indianapolis; Mr. and Mrs. Will L. Stump, Crawfordsville, Jacob Woolverton, South Bend; Herman B. Wells, Bloomington; Robert N. Myers, Muncie; Mr. and Mrs. Walter L. Neible, Edinburg; Mr. and Mrs. B. D. Mitchell, Kokomo; Mr. and Mrs. R. E. Brown, Greencastle, and Ora Amos, Edinburg. A number of Indianapolis bankers and friends are to be entertained by Mr. and Mrs. Hinkle at a special dinner in the train's dining car prior to the party’s departure. .

Chicago Stocks

(By Atkins, Hamill & Gates) Prev. Noon. Close. Advance Aluminum ... “as /s 93% Allied Products 22 .- Asbestos Mig 3s Berghoff 12a But ler Brothers 12 1133 37%

Electric Household 1474 General Household 13's Great Lakes Dredge ..... 293 31 Jarvis Mfg 21%, Ken-Rad T & L 1473 Lincoln Printing .... 12%, Lion Oil Refning ..ceceveseass McGraw Electric .. Noblitt-Sparks ... Zenith

Cord Crane

raenieneres 36 38

New York Curb

(By Atkins, Hamill & Gates) 1 p.m. Prev. Close 134 34 43%

Aluminum Co of (netics Am Cyanamid *“ cians Am Gas & Sectrio Am Superpower - Ark Natural Gas “A” Atlas Corp Catlin Corp Carrier Cor Creole Petro eum Corp Crocker- Wheelet

«Y ...133 sees 33%

Ford Motors Canada “A" ... Greenfield Tap & Die Corp.. Gulf Oil Corp of Penn ...... 95 Humble Oil & Relining Co ... Huyler's of Del p

M Long Island Lich ong scsanens Mueller Brass setenunes Natl Bellas Hess Inc .... Niagara Hudson. Pwr Pan-American Airways Pennroad Cor rp Root Petroleu

cass

sesassee

Spencer Stores Sterchi Brothers Stores Tubize Chatillon Corp... iv... Technicolor, Inc

Fruits and Vegetables

(Quotations below, subject to change, are average wholesale prices being offered to buyers by local commission dealer?) FRUITS—Pears — Michigan Bartletts, bu., $2.50. Bananas—Selected, 1 Ib., 5c. 1 Maiden Blush, 2% inches : 1 =n Wealthy, 2% in- ; ummer Rambo, 2'2 $1. 60. Lemons—Sunkist, ‘360s, carton, 12s, Vac, er 100, $2.50. Peaches— Elbertas, 2 inch, bu., $2.25. Plums—Italian runes, 16-1b. lug, $1, Grapes—Michigan oncords, 4-qt. basket, 25c. antaloupes -— Home-grown, bu., 31, 75@2; Honey Dews, vine ripened, $1.75. Watermelons—Home grown, 25@

VEGETABLES—Beans—Round stringless, bu., $2.75, Beets—Home-grown, doz., 25c. Carrots—Ohio, doz., 45c. Cauliflower—12s, crate, $1.75. Celery—Michigan Mammoth, washed and trimmed, doz., 60c. Cucumbers —Michigan, bu., . Corn—Home- -grown, doz., 25@30c. Kale—Home-grown, bu., 65c. Lettuce—Iceberg, California, 5s, $4.50; leaf, home-grown, 15-1b basket 5c. Peppers— Mangoes, home-grown, u., $1.25, peck basket, 50c: doz. 25c. int Doz., 50c. Onions — Northen yellow, 59- Ib. oe Parsley — Home. -grown, doz. e Western Tel, per, $3. Potatocs— East: ern Cobblers, Toon 1b. bag, $2.65. Sweet Potatoes—Eastern J rseys, bu., $1.5 Radishes — Ohio white, 2-doz ig 85¢. oy e—Doz., 45¢. Turnips—New bulk, bu., Bi: y Tomatoes Home-grown, Y-bu. bas-

Persian seedjess,

$1; bu

Alumipum POSTURE CHAIRS

Employee Comfort is good business!

W. C. BRASS

and Associates

’50 ‘| Edisen Tim Boston 315s ’65. 1070s

as— 1

134 8. Mer. Ri. 9727

Indianapolis Power

417 Circle Tower

WE MAINTAIN MARKETS IN: Indianapolis Railways Inc. 5%, Bonds Traction Terminal Corp. 5%, Bonds

Preferred Stock

CITY SECURITIES CORPORATION

and Light Company

Lincoln 5535

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

Bond and Share Corp.

128 EAST MARKET STREET

New

York Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1026 average equals 100)

20 J . Inds. Today ..... vers 93.3 Saturday 82.3 92.0 81.5 89.4 23.5

1836 | 80.0 103.5 93.3 I ON ahi 1936, by Sitadare Statistics)

20 80 Util. Stocks 105.9 98.8

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

1947-52

HARDWARE AGE REPORTS GAINS

Merchants Anticipate Higher Prices as Orders Increase.

Times Special NEW YORK, Sept. 15.—Advancement in building along with more favorable weather and heavier rains has enabled the hardware industry to reflect greater fall buying at higher prices, Hardware Age reported today. Consumers’ purchasing power has expanded considerably and forced merchants, the country over, to release more orders than in the past, the magazine states. ~The largest hardware merchandise companies are preparing for a period of moderately higher prices and of scarcity of supply. Comprehending this likely occurrence, merchants are building up stocks and devoting less. time to shopping for concessions, the report stated. Demand for luxury goods, including sporting goods and luggage, has increased immensely during recent months. Increased activity in building has bettered prospects in the hardware line, as roofing, paints, tools and builders’ hardware are selling more freely and with the better qualities predominating, the report said. Plumbing accessories and kitchen equipment also are showing steady improvement.

New Bond Issues

(By Lyons & Co.)

Allied Stores 412s’ 51..... Arkansas Gas 4s ‘51 . Associated Telephone ds '65 & O 4135 '39 Cal Oregon Power 45 '66. Central Maine 4s '66 Central 1 328 '66

& O B 3los - nS, West n 415s ’62 Chicago Un Station 3!2s ’15 . Cleveland Tractor 55 '45 Columbus Railway 4s ’65 Com Invest Tr 3'zs ’'51 104%; Conn Riv Pr D & L 3%s ’61...106%a Consolidated oi 32s '51 987 Cudahy Pkg 33 Yas ’558 Cudahy Pkg 4s

Ask 100%

10234

107% 102% 1027 102 Ya

103%,

Gen Motors Ac Corp 3s 46 ..102% Gen Motors Re Corp 3% Se 102% Indianapolis Water Biss 66. 152 Iowa South Utilities 525 '50.. Kansas P L 4l%s ’65

10414 103 Ys 103

99 103% ‘981%

104%

West a0 Wisconsin Gas 2 E 3'2s '66 Wisconsin Pub Serv is “81

Produce Markets

(The prices quoted are paid for stock gathered in the country, while Se ioecd in Indianapolis the price is a cent higher.) Heavy . breed hens bs. and over 16c: under 5 Ibs. 13c: Leghorn breed hens, llc; colored springers, 1) lbs. and over 14c: Leghorrd springers, 1'2 Ibs. 2nd over, 12c: old ducks, white, ’s a and up. 5c; geese, full feathered, sizes, 4 all guineas, 1% Ibs. and up, 15c; old cocks, 8c; No. strictly fresh eggs, loss off 22. Each full case must weigh 55 Ibs. gross, a deduction of 10 cents a Put under 55 Ibs. will be made. No. Super, 38@3%¢c; No. 2 35@36e¢. Butter-

Money and Exchange

INDIANAPOLIS STATEMENT

Clearings ......... Neksninsvnrins $3,449,000 Debits .. 8,822,000

TREASURY STATEMENT (By United Press) WASHINGTON, Sept. °15.—Government

expenses and receipts for the current fiscal year to Sept..12, as compared with a vear ago: Expenses 81, 237,514, 1555. 39 $1,470.307,075.37 Recents 782,313 x

4 10, 744,899.670.45 9.219.615,531.85

Customs 79,031,265.99 79,466,666.92

35 3s

Atl Coas Balt &

Beth Ste

Col Gas Col Gas Can Pac

Big Four Colorado Chi & N

Containe Con Gas

Bre 5s

Gen Sti Ill Cent Ill Cent Ill Cent Interntl Interntl Interntl Interntl

McKees &

Nor Pae Nor Pac

Portland Para Pul Penn Shell Un Sou Pac

Sou Rail

Western

German

Italy 7s Poland 7 Rome 6!%

| Tokio Ci | Yokohoma 6s ’'61.

Other Livestock

CHICA 153 25¢ lower:

$10.15@1 sows, $8.

yearlin 25¢ hig

ers afte

all heife

evenin, $10.50, ®

stockers choice g

directs; lower;

erns, $9.

10.85;

200 Ibs., b

ambs,

350; all

36.5 Shas: bulls,

down. than

sales de

882:

1949 1842

Alleg Corp 5s "44 . Alleg Corp 5s '43 #1 Am Frgn Pow 55 2030 ........ 88% Am Tel & Tel 5'28 '43 .. yAm Tel & Tel 5s '65 .... Arm & Co (Del) 4s '55 .. Atl. Coast Line 4s '52 .........100% 101 20 Atch Top & S Fe 4'zs 48. 110% Am Wat Wks 65 '75 Am Rolling Mins 414s 45 . Ohio 5s 2000 Balt : Ohio 8s '95 Balt & Ohio 42s '60 Buff Roch & Pitt 4l2s 37 .... 90

Chi Milw & St P Chi Milw & St P~ Cleve Un Term 35s Cleve Un Term 4las i

Cent Pac 5s Big Four 4328 'TT ccocessassnss Lik

Grt Northern ‘G’ 4s Grt Northern ‘H’ 4s Grt Northern 4'as "77

Interbero Ra

exas Pac texas Pac 55 '79....... ereesa.105 Texas Pac 5s '7 Third Ave Adj 3 60. Union Pac 4s ’47 } United Drug 5s ’53...... aseais 10234 U SB Rubber 55 '47.......... ...1087% NY NH & ‘Hart 6s '48

Warner Bros 6s 39

Youngstown S & T 4s '6 Youngstown 8 & T 3!2s '51....

1% 000, including light lights 3 top. 3 190-250 Ibs.

Cattle—Receipts,

up to 1500 lbs., 1400-1500-1b. averages: top, $10.25 paid for light cattle, loads, $9.25@

Sheep—Receipts, active start; most natives bid $9.25, ward to

LAFAYETTE, Ind. 20 Eg lower;

[email protected]; $8.50 down.

FORT WAYNE, Market 35c lower; 160-180

a nominal trade;

Sheep—Receipts sorted Wo

deral Farm Mortgage Corp. 105.10 1058 cine -103.27 103. 3 -47 1047 104.4

“sw

DOMESTIC Prev. Close. 98% 90 89% «eres 113% 113% crvsnalllis 111% 9812 98%

Close. Ee censees 81

savas

Li 4155 ‘84 8912 line 3. 110%4 mm: m Sisk 116%

eo - 10434 cores SYA 000.

8 .108% : .103% 103% 5s May '52 . 105'a 1052 BS ‘81 .iiaeoiveiinn lf Perp 48 eecsneransnera 98% 60 102

el 41s ’

Lesesssennennae

5s '62 023

& So 4'zs '80

Chi & West Ind 4s '52 .

or West 4%s "49 r Corp 6s ‘46 .. 4153s '51

Chesa Cor Del & Huds

'87 oa '46

Cast WW 5125 '49.... 86

Hud & Manhat Ref 5s '57 ...

435s 66 Jt 4lzs '63

5s '63 id Trans Ss 66. Hy Elec 6s "44 Tel & Tel 4Yas '39. Tel & Tel 5s '55 Tel & Tel 4'as sy *

Lehigh Valley 4s J3063

Rob 5

N Y Cent 5 Nor Amer Co 5s fort

3s 2047 6s 2047

New Orleans Term 4s '55 Otis Steel 6s '41 .

E 55 '42 Gen El 4135 60 blix 6s '55

Postal Tel & Cab 5s '53 . Rem Rand WW 4%s ’55..

ion Oil 3'2s '51..

Socony Vac 315s '50

4155 68

614s ’58........

55 ae 105%

Union 5s '60. 1283 128%

FOREIGN

Argentina A 6s ’57 Australia 4las '56 Brazil 8s

51,5 ‘65

'51 5 28 'H ty 5's [83

(By Unite Press) Se 15.—Hogs—Receipts, 360 directs; market s oF, than Monday's avera most; Sows steady to oe 0.85: some held higher; bulk, [email protected]; 250-300 lbs. 0.75: best, 160 1bs., $10.25; ot

50@ 9.60. 10,000, calves, 2000: and light steers active: strong to bulk yearling and light steers

GO.

lower

er,

crop sold on early round: medium weights and weighty steers steady to strong;

illnished o erings scaling but’ going slow on middle

r well

some held higher; 10; steers and heifers at $10;

rs rm; cows, sloy, steady; bulls,

active; steady at $5.75 down; vealers, un-

higher; all interests paying $10@

with several lots at $11: about 2500 Western grassers; supply mainly well bred and feeders and good to near

rade cows. 11,000, including 1000 fat lambs slow, ‘after moderately bids and sales yeak to 25¢ held upgood West-

Sept. 15.—Hogs, mar-210-235 1bs., $10.25@ 1bs., $10. g5@10, 15; 260-280 [email protected]; ; 90.210" ‘ibs. $10.15@ 2 oall; 150-170 1bs., 730. Prs0 lbs. $8.75@9; 100-130 roughs, $9 dows, Lambs, $8.25 down

Ind.. Se :

$9.50 and above;

Calves,

13 95: 150: $9.95; 180-

275-

$10.10;

0 Ibs, $8.25. $8.50;

; -130--120 Ibs., calves,

stags, $6. 50;

(By Times Special)

LOUISVILLE, Sept. 15. —Cattla—Receipts,

classes around steady in mostly

Ww scattered sales butcher cows,

low cutters and cut = ters, $3@4; odd

Calves—Recei ts, 500; openin 1 realers, steady at Midas 4 Yl head selects, $9: bul 8.50; few good heavy calves around,- $5.50

Hogs—Receipts. Mo p

arp decline; few Ea grades, $3@

500; market, 35e lower nday; best 200 33; 90-195 1bs.,

bs. 5 40 lbs, $8.25; sows, $7.45. 23 “paia lame, weak; pa sparingly; sirable sorts, 8.75. ae

; 145-175 lbs.

im-

proved somewhat in the stock ewe division with a fair clearance M Receipts Monday—Cattle, hogs, 375: 1 Shipments Mondsy—Cattie, 801; 135; hogs, 296; sheep,

onday. 2035; calves, sheep,

and

eewst le . RW, LL 6122 genuine Typewrit! Letters Shake

se Collections, Promotions, ete. ,

them to increase Sales,

Bemis Letter Service 307 Merchants Bank Building

NEW ISSUE

federal income tax.

WE O INCL

$315,000

Trustees of Indiana University

3V4 % General Obligation Bonds (For New Clinical Building)

Dated October 1, 1936 Maturing Annually April . 1, 1939, to 1958, Inclusive

Exempt from the Indiana intangibles tax by ruling of the state tax board. Bonds issued by the trustees of Indiana University have been ‘held to be exempt from

THE UNSOLD PORTION OF THIS ISSUE ING BONDS MATURING FROM 1950 to 1958 AT PRICES TO YIELD FROM 3.05% TO 3.15%, SUB- . JECT TO THE LEGAL APPROVAL OF MATSON, ROSS, McCORD & CLIFFORD, INDIANAPOLIS.

Descriptive Dirsular on Request

129 east marker sTReer

numerous

hardly enough offered in | steer and yearling class to make test: a few 2 nd plain to sell downward from

calves,

ANOTHER DROP IN HOG PRICES - REPORTED HERE"

Sing Off 25 Cents: Cattle and Lamb Market . Is Sieany.

Continuing a downward trend, hog prices dropped another 25 cents at the Indianapolis Union Stockyards this morning. Packing sows were 10 to 15 cents jower. Cattle and sheep, however, wef steady, top steers bringing $10.10, ang the bulk better grade lambs ranging from $8.50 to $9.25. Vealers were 50 cents higher, the bulk betier 8 des selling from $8.50 to $9. og prices were highest n weights between 180 and 250 pounds, $10.30 to $10.60 being paid. Two hundred fifty to 290 pound weights ranged from $9.85 to $10.45; 290°4a 300 pound weights, $9.50 to $10.05; 300 to 350 pounders, $9 to $9.95, and 350 to 400 pounders, $8.55 to $9.85. Lighter hogs, weighing ‘between 100 and 160 pounds, ranged from $10.40 down to $8.25.

Packing sows, off 10 to 15 cents, iranged from $7.90 to $9.35, with a top price of $3.60. Hog receipts were 6500, with a holdover of 481,

Cattle Are Steady

Light steers, yearlings and better grade heifers were fully steady, and’ cows were steady. ‘With top steers bringing $10.10, other fed steers ranged. from $8.50 to $9.50. Top heifers brought $9.25, and others varied from $6.50 to $8.75. Beef cow prices ranged from $4.25 to $5, cutter grades selling from $2.25 to $4. Oattle receipts were 2200, and 800 vealers were on the market. The bulk better grade vealers brought from $8.50 to $9, 50 cents higher than yesterday. Receipts of sheep were 2000, Slaughter sheep were steady, fat oye ranging from $2.50 to $3, top

HOGS Top Receipts $1150 50 iH 0n

41 25 11.35 11.35 11.10 10.85 [email protected] 10 40 Light Lights— : 140-160) Good and Medium Lightweights— (160-180) Good and

Medjum (180-200) Good and Medium Medium Weights— (200-220) Good and (220-250) Good and Reaviwelehts— 250-2801 Good 1280- 3501 Good

choice...

[email protected]

. [email protected] 9.75@ 10.40

choice.. 10.40% 10,60 choice.. 10. 35@10. 60

9.95@ 10.43 [email protected]

‘8,607 9.60 8.10 8.59 7.90% 8.35 7.60@ 8.60 8.95@ 9.2% &

choice. . choice. .

Medium Slaughter Pigs— (100-140) Good and choice.. CATTLE —Receipts, 2200—

(550-800) Choice Good

: Ci (800-1100)

C (1100-1300) G

M (1300-1500) G

* Heifers Choice Good Common. medium. Good and choice . ommon. medium.

(550-750)

(750-800)

, Common and medium Low cutter and cutter Bulls, good Cutter, co. and med. bulk ... Vealers —Receipts, 800— Good and choice Medium Cull and

5. L 425@

333

common

250- 500% Good and cholce..$ 6.50® Common, medium 4.50@ Feeder and Stocker Cattle (500-800) Com. and choles ‘3 6.00G . and medium -450® (800-1050) Gomi and choice.. ,

axa a

3 aa

SHEEP AND LAMBS °

—Receipts, ™oLambs— P

"90. 0-170) Good and chojce . and medium ii are SS quotations

9 somo aN aN PU whe

2.50 on clipped

i} > Dd 0 w

smi Se md REVENUE INDICATOR RISES’

Times Special

9.00@ 10.25

833 33

NEW YORK, Sept. 15. —Revenues

for the transit industry for ths week ended Sept. 5 showed impréve= ment over. the corresponding period last year.

Service Assured

No need to postions your building plans for lack of the necessary financing. We have plenty of funds ready now . . . so submit your application without delay. Reasonable rates, quick, courteous consideration of your needs, and favorable terms, are features of our morigage loan

service.