Indianapolis Times, Indianapolis, Marion County, 17 September 1936 — Page 24

Flynn Says Divided Government Is “Unwise. BY JOHN T. FLYNN

EW YORK, Sept. 17.—Mr. Walter Lippmann, distinguished columnist . of THe New * ¥ork Herald-Tribune, has invented 8 new and unique reason why he is going to vote for Mr Landon. Because Mr. Lippmann is a widely know liberal. his pronouncement . for Landon has been looked upon 8s important.

His reason is that President Roosevelt has given the country a personal, facti rtisan Administration, and will continue to .do so, while Mr. Landon, if elected, will give the country a government of naMr. Fiynn tional union. Mr. Lippmann takes the position that we are in a time of great difficulty, hardly, if at all,

nal and .

PAGE 24

‘GREATER SALES

BY DEPARTMENT STORES LIKELY

Tota 1936 16 Business May

Exceed -'35 Period by 10 Per Cent.

t Times Special

less seri- |

than in the war period; that

therefore the government should in- ~ solving our problems. war, in England, as well coalition governments were formed

=representatives of all parties being |

drawn into the cabinets so that all sections of the nations could unite in prosecuting the war... The same thing should be done now. # nn » F course Mr. Robsevelt has no notion of forming his cabinet of leaders in all parties. And, so far as I have observed, Mr. Landon never has said that he would = do this either. But Mr. Lippmann believes that Mr. Landon will be forced to do something resembling that. If he . Is elected, he will be confronted with a Democratic Senate and perhaps a Democratic House. The Senate is safely emocratic no matter what happens in November. This will force the Republican executive and the Democratic Congress to collaborate, to act together. But surely this is a very different thing from such a government of national union as was formed during the war in England. There _ political differences were completely buried. The cabinet was made up of conservatives and liberals, The enemy was obvious. All were agreed on him. It was Germany. The objective was agreed on—winning the war. The means were agreed on—by focusihg all the national energies on that aim.

= = UT certainly Mr. Landon no intention of inviting the great Democratic leaders into his cabinet. Republicans and Demoerats in Congress have not the - slightest intention of sinking their political differences in the next “aur years.” Even if the cabinet were a coalition one. Republicans and Democrats could not even agree on the enemy we are fighting. Every man has his own theory about the cause of the depression. One group wants to fight the rich, another group wants to fight the banks, another group wants to subsidize the farmers, and so on endlessly. In our system of government we have found through bitter experience. that when the President is of one party and the Congress of another, there is never unity between them. There is nothing but bickering, warfare, cross pur- - poses. The great economic. problems calling for solution can not be worked out by an Administration of hostile elements. There may be good reasons for electing Mr. Landon or Mr. Roosevelt, but this is the first time I have ever heard any one argue that it was a good thing to have a Republican President and a Democratic Congress. y 1936, NEA Service, Inc.)

= has

{Copyright,

Fruits and Vegetables

{Quotations below, subject to change, are av wholesale prices being offered 10 | buyers by local commission dealers).

FRUITS—Pears Michigan Bajtleuts, | bu., $2.50. Bananas—Selected, 1 le CN =1 Maiden Blush, up, $1.85; No. 1 (early) Wealthy, 2!4 inis up, $1.60; No. 1 Summer a Phe ‘inches up, $1.60. Lemons—Sunkist, 2320s, . Limes—Mexican, 12s, 22'2 Persian seedless, Elbertas, 2 inch, bu., runes, 16-1b. lug, $1. oncords, 4-qt. basket, MELONS—Cantaloupes Home-grown, bu., $1. 75@2; Honey Dews, vine ripened, | $. $4.75. Watermelons—Home grown, 25@ | Ie. ~ VEGETABL ES—Beans—Round stringless, | bu., $2.75. Beets—Home-grown, doz. 25c. Carrots—Ohio, doz, 45¢. Cauliflower—12s, erate, $1.75. Celery—Michigan washed | and trimmed, doz., Au. 2. Corn—Home-g .. 25@30c. Kale—Home- -grown, bu., 65c. Lettuce—Iceberg, California, 5s, $4.50; leaf, home-grown, 15-1b basket 75¢ Peppers— Mangoes, home-grown, bu. 1.25; peck * basket, 50c: doz. 25¢. Mint — Doz. 30c Onions —- Northen yellow, 50-1b. bag. Parsley — Home-grown. doz., 40c. Western Tel, hamper. $3. Potatoes—Eastern Cobblers, 100-15. bag. $2.65. tatoes—Eastern Jerseys, bu., $1.50. shes — Ohio white, 2.doz. basket, : Sage—Doz.. 45¢. Turnips—New bulk, bu. 7 $1.50. Tomatoes—Home- -grown, 2-bu. basKet, $1; bu., $1.75.

oe “ices |

carton,

$2.25. Plums—Italian Grapes—DMichigan 25¢.

(By United Press) CHICAGO, Sept. 17 Tag es—Duchess, Michigan, bu 5¢@81.35. Sweet Potatoes Louisiana Porto Ricans, $1 [email protected]. Carrots—Illinois, bunches, 1'2@2!;¢c. Cabbage Wisconsin, 75-1b. crates, 75c@$1.17. i matoes—Michigan. climax basket. 13@ 40c Bap) flower—Colorado cr ates. ’ daho, bu. hampers, $1.7 Michigan, Jarre crates, 5% 40c. market (50-1b. sacks!—Illinois, and Michigan yellows, 506 65¢: whites, Indiana whites, 90c@ $l.

Produce Markets

{The Prices quoted are paid for stock gathered in the country, in Jodianapolis the price is a cent higher.) Heavy breed hens 5 ibs. and over, 6c: under 5 Ibs, 13c: llc; colored springers, over ldc: Leghorn springers. and over, 12c; old ducks, white, 5 lbs and wp. Sc; geese, full feathered, all sizes, all guineas, 1% ibs. and up, 15¢; cocks. 8¢c; No. 1 strictly fresh eggs, off 22¢. Each full case must weigh 85 Ibs. gross, a deduction of 10 cents a d under 55 Ibs. wil be made. No. butter, 38@39%c: No. 2 gs. Butter3, 34c.

113 Ibs, and

132" Ibs

(By ai Press) CHICAGO, — Eggs — Market ay: ipts. Pes03 erates: resh graded , 25%c: extra Brats, 36c; dirties, 2lc; current receipts, 23! checks, - Butter—Market wes: receipts, 9858 $yos; a fists {90-8112 score), 323,@33': 2.@32c; extras (92 score), sic. standards, 33¢ : receipts, 19 ducks, 11#16c: 146z18¢c; hens, 13@19c: 18@ 18c; broilers, 144 16¢c: leghorn 1 @ 14c; old roosters, 13@l4c pp! ins, 18'>@183%c; daisies, 19@ - longhorns, 19a 19%¢c. upply moderate; demand slow; about Steady; aho Russet 80: U. 8 $2.05; Washing:

B 52 foa2. 75: Colorado Bl

Cobblers, Flanges, w 70; -

NEW YORK, Sept. 17.—Notwith- | standing department stores’ great Improvement in sales and earnings | rom depression lows, the outlook for further improvement is highly! encouraging, according to an

analysis made public today by Fen-| York Stock!

ner and Beane, Exchange firm, Indications are that the full year 1636 will show a 10 per cent sales increase as against 1935, with an even greater improvement in earnings, the report stated. Rising employe income and increased divi-

New

clude the best talents available for | dend distributions were cited as the

During the] as here, |

two factors most stimulating to department store dollar sales. “A ‘10 per cent increase in sales may carry 1936 department store profits to6 within 15 per cent of the income level of 1929. Much im-

proved operating conditions suggest |

that as much as 20 per cent of sales increases may be carried down to net income,” it was maintained.

Better Quality Wanted

“The heavy demand for seasonal as well as general merchandise handled by department stores thus far in 1936 virtually has eliminated the necessary for mark-downs: prices for retail goods have been slightly above 1935 levels; quality merchandise, yielding better than

raverage gross mark-ups, has been

iin heavier demand than

| been well controlled,” it

at any time since 1930; wage costs have was Tre-

| ported.

Bonus payments to veterans un-

| questionably caused most of the es-

i sales volume already apparent

in in

timated 11 per cent increase

i the first eight months of 1936, ac-

| department store counters

| pay

! the” balance of the year, | gain in employe compensation .of

cording to.the survey, which further stated that 50 million dollars of bonus funds may have crossed in the first seven months, of this year.

Factory Pay Rolls Increase

“In the first half of 1936, factory roll totals, according to the Department of Labor, were 11.8 greater than in the corresponding 1935 interval. The increase in recent months has been even larger, and with a high level of activity anticipated in heavy industry over a total

10 to 12 per cent for 1936, as com-

| pared with 1935, appears inevitable.

“Dividend payments, also, in the first seven months of 1936 were 24

i per cent greater than in the same | 1935 period; with unusually large

disbursements anticipated from now

| on in reflection of management's | effort to avoid penalties on sur-

! plus profits | Revenue

| thur Black today

imposed by the 1936

“On this basis, an aggregate in-

| crease of 10 per cent in the 1936 ! department store sales appears in-

escapable,” in the opinion of the

survey.

$5,000,000 OFFERED

FOR TEXTILE PLANT

| By United Press

BOSTON, Sept .17.—Referee Ar.confirmed the

{ $5,000,000 offer of Amoskeag In-

for the Amoskeag plant, once

dustries, Inc. Manufacturing Co.

| America’s largest single unit textile

! i i |

per 100, $2 50. Peaches— |

Mammoth, ! 60c. Cucumbers | rown, |

plant, at Manchester, N. H. Final consummation of the sale

| awaits only approval, expected later | this week, by Federal Judge George C. Sweeney.

Amoskeag Industries, Inc., which has deposited $500,000 as evidence {of good faith, was formed by a { group of Manchester citizens and | New Hampshire interests to buy the plant and lease units to smaller industries.

W. Rodman Peabody, speaking for |

trustees of the Amoskeag Co., said they had been offered a “better { price” by other interests, but felt it “best for all concerned” that the | proposition of “these gentlemen” | be accepted. The Amoskeag plant closed a year ago, throwing 11,000 persons out of work. At peak of production, the

{ plant employed 18,000.

"FEDERAL ECONOMICS

80c. | Peas— |

BUREAU IS PROPOSED

| By United Press

WASHINGTON, Sept. 17.—Secre- |

| tary of Commerce Daniel C. ‘Roper i today submitted to representatives | of American business a proposal for | establishment of a Federal Bureau

0- |

, Peas | { government and private Onion i Indiana | Michigan |

of Economics. Furthering Mr. Roper’s desire for closer co-operation between the industry, the new bureau would provide a general clearing house for economic

{ information.

The idea for a Bureau of Indus-

| trial Economics . will be. advocated

while delivered |

by Mr. Roper before a meeting of his Business Advisory Council, con-

| sisting of 52 prominent representa-

Leghorn breed!

tives of the industrial world.

Money and Exchange

INDIANAPOLIS STATEMENT

Clearings Debits

TREASURY STATEMENT {By United Press)

WASHINGTON, Sept. 17.—Government expenses and receipts for the current fiscal year to Sept. 15, as compared with a year ago:

Expenses

$191 2.86% ot 2,988.92 Ko i 92 $1, Ronse. 250.895 58 $ Sit 36 040 01

831, Deficit o 333 612,094.96 724,307,216. 8 1,423,985.850.3

Bub. debt 32.313 638.908 08 u ebt 98 29.47 1, Gold res. . 10,760.755.795.77 9. ‘330; 897 ‘828; # Customs . 82,396,747.97 81,829,730.50

ALABAMA GAS BONDS OFFERED CHICAGO, Sept. 17—Public offering of an issue of $1,500,000 Alabama Gas Co. first mortgage bonds, 4': per cent, series due 1951, is being made through an underwriters

Cob- | group, Doremus and Co. announced boday, =

Act, an increase of close | | to one billion dollars in 1936 pay- | ments appears likely.

Abreast of The Times on Finance

THURSDAY, SEPTEMBER 17, 1936

———— New York Stock. Exchange Prices

| {By Thomson & McKinngn)

Oils—

| Amerada Atl ‘Rf | Barns

Houston Ohio Oil Pet Corp Phillips Poet” Pure il Shell Un Skelley Oil . Soc Vac ....

Texas Corp Tidewater

Y. Close Prev.

Low N.

Noon

Un Oil of Cal...

Steels—

Am Roll Mills. . | Beth Steel Byers A M i Cruc Steel | Inland Steel i Ludlum Steel McKeesport Mid Steel | Natl Steel | Otis Steel

{

Rep Iron J% Steel 235

U 8 Piue & Fd U 8 Steel .. Youngstn S§ & T.

‘Motors—

Auburn Chrysler Gen Motors

Hudson

Sodebakor Yellow Truck

|. Bendix Bohn Alum

Elec Alito Lite. Elec Stor Pat. Houdaille

Timken Roll Mining—

Am Smel} Anaconda Cal &

Gt Nor Ore Howe Sound Ins Copper Int Nickel Kennecott Park Utah Phelps Dodge...

Vanadium Anigsemanis.:

Paramount .... RKO ..... Warner Bros.

Tobaccos—

Ill ial KC

Equipments— Am Car

Bald Loco Gen Am Tnk Ca Gen Elec Gen R R Sig Pullman Inc West Air Br .. Westingh Elec .

Utilities— Am & For Pwr.. Am Power & Li &.T

Int Hy dro Bo Int T& { Nat Par Te Lit. .

Peoples Gas

So Cal Edison. Std Gas Stone United Corp ... Un Gas Imp

Western Union Rubbers— Firestone Goodrich U 8 Rubber

Allis Chalmers Am

Brklyn Man Tr. Burroughs Add.. Contl Can Curtis Pub Deere Foster Gillette Glidden

Inter Harv Rem Rand Foods—

Armour Armour 6%

Purity Bak

y 31 Fos 9%

Graham Mot ... Mack Truck .:.. ash

Motor Access—

Borg Warner ...

Murray Body ... Stew Warner ... Timken Det Axle Alaska Jun .... Hecla... Cerro- De Pasco.

St Joe Lead....

Radio Corp ....

pid 2 Gt Northern pfd 30

Am Brake Shoe. & Fdy.. Am Steel Fdy...

r 45

‘a 138%

65 t 113%

{ North Amer .... Pac G & B...... Pub Serv N J. & Webster

Ut Pwr & Lt “A.

Miscellaneous—

. B53, 128

Am Moh & Fdy 22%

4234 Int Bus Mach.. 189

79 28% 3812 163; 16%2 66's 36%. 14 391%

133: 34%:

27 157% 15%

Investment Trusts (By Thomas D. Sheerin & Company)

| Administered Fund 2d

{ Affiliated Fund, | American Busine

Inc. " ss Shares.... 1 32

| *Broad Street Investing

| Bullock Fund, Century Shares Corp. “AA” or

{ Corp. “AA” or ‘Acc.’ { Corporate Trust Shares fone) { *Diversified Trus. Shares

Diversified Trus. { Diversified Trus. Dividend Shares, Investors Fund

Maryland

North American North American North Amer. Tr. Selected Amer. S| Selected Income State St.

Trustee Am.

United Standard *Ex-Dividend.

(By NEW

Chase Chemical Continental *Guarant *Irving

National City

Baltimore Ameri

diver ...

Investment Corp. Supervised Shares Inc. (

*Manufacturers

Trust “Acc. * (Unmod.) 2. 2.84 * 10.62 Shares “C’’. 4.80 Shares D". Ine... .

General Investors Trust. Incorporated lavesiors

Market St. Iavestment Corp. . Fund Massachusetts Investors

Mutual Investment Fund..... *Nation-Wide Voting

Tr. Shs., Tr. Shs., 1956 Shs. (Orig.)

Quarterly Income Shares

hares, Inc..

Selected Amer. Shares (Orig.) Selected Cumuldtive Shares. .

Shares 5. . 109.75 14.22 15

Trus. at Ohare: “AV 700 Trus. Standard Oilshares “B”

108

Oilfunds....

Unlisted Stocks

Blyth & Co.) YORK STOCKS B

*Bankers Trust . *Central Hanover .

Ce erieneneiX... ahe

Tes ane ianr an

sess enacaannan

First National Boston : National Shawnut FIRE INSURANCE *Aetna Fire Insurance *American Ins of Newark

can

fase nasnEns

“essa sERraTNITNe

Liberty scceecscens.s 1

sateRisRtersans

Easansnssaartsatisnns

prassasassanes

eee 34%

| Aviation Co'P .

31 1544 74%; 4%

S Porto R Sug. Std Brands . United Fruit Se Ward Bak '"B"”. Retail Stores—

Allied Stores.... Assd Dry Goods Pirst N Stores Gimbel Bros... Jewel Tea Kresge 8S 8 .. Kroger Groc Macy R H

12% 20% 481; 16%2

.» 38%2 . 20%

49% McCrory St .... 17% McLellan St ... 14 Marshal Field .. 15% ept 8t ... 48% ard .. 9%

Tea . 90 Sears Roebuck 853% Woolworth

Aviation— 5Y Boeing Airc - 29 Curtiss Wright . 6% Curtiss Wrght ‘A’ 20% Douglas Air ... 13% Nor Am Av «8 err orp Unit Yairett New Chemicals—, Reduction Col Carbon .... Com Solvents Pon 158%

21% 26%

. 14% 122

Free on Tex . Liquid Carb ... Math Alkali .. Natl Dis (new). 29% Schenley Dist .. 44% Tex Gulf Sulph. 37% Union Carbide . 95

317% 15% 5% 4%

31 15 14'2

127% 20% 47% 16% 85 20%2 20%, 49 17% 14 15% 56%

90% 85'2

54%

942

business branch

THE ECONOMICS SYSTEMS, by L. tor Abramson—A public policy,

plan HOW “ro MAKE

mons—‘ ‘The to analyze the things

one.’

DENTS,

sudies in

ministration nald.

as well as in MUNICIPAL 1

New Business Books Available at Library

The following new business books now are available at the

apolis Public Library:

tute study of the general issues of which’ are involved in Soe organization of open-price

PRACTICAL ADVICE FOR SELF-

HELP IN SELLING, by Harry Simauthor has been able

that make between a good salesman and a bad

ACCOUNTING AND FOOD CONTROL FOR HOME ECONOMIC STUby Neva H. Radell—Case accepted principles of business, in controlling foo and in keeping accounts and ords for organizations which de=zl entirely or. Partially with food ad-

Revised Ed.—“To salesmen must be must know salesmanship in theory SALESMANSHIP, by Shatles H. Ferracti DEX “AND ATLAS.

of the Indian-

OF OPEN-PRICE

8S. Lyons and VicBrookings Insti-

MORE SALES:

really important the difference

costs, rec-

succeed

prepared; they

N. Y. Bonds

(Reprinted From Lat

e Times Yesterday)

DAILY BOND INDEX

(1926 Average 20

Yesterday Week ago ....

(Copyright, 1936. by

Equals 100) 20 20 Util. 105.9

84.7 103.5 93.3 Dard Statistics,

U. S. GOVERNMENT BONDS

(By Abbott, Proctor & Paine) Treasurys

Home Owners 1949 1952

Loan C 101° Pig! 101.31 103.18 103.21

Xedera Farm nh

103.4

DOMESTIC

Aleg Corp i '44 Alleg Corp 5s'’4 Am Frgn Pow ps 2030

Atl Coast iLne 4s ’52

Prev. close 99 9334 692 113%

Atl Coast Line 4's '64 Am Rolling Mills 4%s 45 ...115

Balt & Ohio 5s 2000 Balt & Ohio 6s ’95 Balt & Ohio 42s '60

Buff Roch & Pitt 42s '57

Beth Steel 4Ys 60

Chi Milw & St P 3s 5

Chi Milw & St P Cleve Un Term 5s 2%

s 2000

Cleve Un Term 145 "1

Col Gas 5s May

Can Pac Perp 4s Tr Cent Pac 5s ’60

CAG 4s Grt Northern ““H 4s

sere

"46. 6 ....

Grt Northern 4l2s 77

Interntl Hy Interntl Tel &

Natl Steel 4s 6 Samana Nickel Plate 4'28 '78.. Nickel Plate 525 '74 N Y Cent 5s 2013 N Y Cent 4'3s 2013 £9 N Y Cent CYS Nor Pac 3s 204 Nor Pac 6s 204 i Nor States Pow 5s '41 New Orleans Tom 4s Otis Steel 8s ’

42 Portland Gen °E1 4158 Para Publix 6s Penn P & Postal Tel & Rem Rand WW 4s

58. cars

1d)

'55.

'60

106%

Shell Union on 3ios '51...... 98

Sou Pac 42s’ Pac

Texa Texas Pac 5s

68...00000000000 943% ‘reel Ya

my Third Ave Adj 5s ’60.. s "47

Union Pac

NY Warner Bros 6s '39

Western Union Youngstown 8S & T

4s '61. Youngstown S & T 3s ’51. .128

3% ..103%

FOREIGN

Argentina A

8s '57. Australia 4125 '56.. .

2s '52 Tokio City 5iis

caeenses. 101

'8l.....s

80 Bonds, 98.

| Okla Natural Gas 4%

U 8 Indus Alco. 33 Drugs— Coty Inc 5 : 5 5 Lambert 17% i bi Un Drug. (ew) 14% 147s Sterling Prod 70% 7 Zonite Prod .... 7% Y Financial— «33 Ws . . 3% 9

13%a 3% 9 131s

Transamer 9%

Tr Contl Corp... Building— Am Radiator ... Int Cement .... Libby Owens Gls Ulen Cons ..... Household— Col Pal Peet .. Mohawk Carpet. Servel Inc Simmons Bed Textiles— Celanese Corp .. Collins Aikman .. Indus Rayon Real Silk

Chicago Stocks

(By Atkins, Hamill & Gates)

213% 541; 67 4%

21a

14% 23% 26 37%

267% 5612 33 32% 10%2 10% 12

Prev.

ora ane Economical Drug Electrical House od General Household . Jarvis Mf Ken-Rad Lincoln Printing sesesasessssns Lion Oil Refining... econeeseevs 4 McGraw Electric .... Noblitt- Sparks

Zenith New York ork Curb

(By Atkins, Hamill & Gates)

Am Cynamid “B” Am Gas & Electric Am Superpowsr .. Atlas Corp .....». Catlin Corp eva Carrier Corp .. Elec Bond & Share ... Ford Motors Canada Glen Alden (1) Greenfield Tap & Die Corp.. Gulf Oil Corp of Penn Humble Oil & Refining Co... Huyler’'s of Del pfd Hygrade Food Long Island Lightin Molybdenum Co Mueller Brass Natl Bellas Hess Inc......,.. Niagara Hudson Pwr......... Pennroad Corp Root Petroleum St Regis Paper Co Salt ‘Creek Producers Assn..

14% 5

4 6% 3

2; 102

Tubize Chatillon Corp 3

Technicolor Inc

New Bond Issues

(By Lyons & Co.)

Allied Stores 4Y het, 51 rkansas Gas Associated Telephone 4s ’65..107 B & Yas 101% Beth Steel 334s '66 87 Cal Oregon Power 4s 66 .... Central Maine 4s ’'66 Central Ill 3's '66 Cincy Gas & Elec 8s '86 C & O E 3%s '96 . Chicago West In 4s : want) Chicago Un Station APN 215 e Cleveland Tractor 5s ’45 Columbus Railway 4s '65 Com Invest Tr Sar '51 Conn River Pr Consolidated or 3) Cudahy Pkg 3 Cudahy Pkg So S50" Edison. Illum Boston 3's ’65..107 Gen Motors Ac Corp 3s ’46 .. Gen Motors Ac Corp 3%s '51.. Indianapolis Water 342s ’66.. Iowa South Utilities 5%s ’50.. Kansas P L 4'%s ’85 Los Angeles G & E Louisville G & E 3's Lou & Nash G & E 4s’ Metro Ed 4s '65 Minn Gas & E Dr 4s Nalraganseis Bee 3%28 ’66.... N ¥Y Chi St Louis oi "46 New York Edison 4s Ss

104% 103% 102% 98% Okla Natural Gas 5s seev Pacific Lighting 42s es : Peoples Gas L & Coke 5s '61.. Penn R R 334s '70 Penn Tel 4s ’'65 Potomac El Doxar 3s '66.. Pub Serv N H 334s '66 Railway Lite Vs yl. Sagueney Power 4Yis 5 103% San Diego G & L 4s ’ Southern Cal Gas 4s 65 e oh 108% Southern Kraft 4s '46 . : % So West G E 4s ’'60 10 10414 Wisconsin Gas & E 31s '66 .. 1041; Wisconsin Pub Serv 4s '61 ...104% 104%

104% 106%

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 buying and selling inquiries or recent transactions.

BONDS

Sh Ind Tel (T H) 4Y%s ’61...102% H Tel & Tel Ft W LY ’43....104 H Tel & Tel Ft '43....1031; Indpls Railway Ing 5 67.... 67 Interstate Tel & Tel 5's ’'53 .. 99 Kokomo Water Works 5s Se. .104 Morris & 10 Stores 5s ’50 ...100 Muncie Water Works 5s ’65 . [108s Noblesville H L & ? 5% 47... Ohi 6s ’ . Richmond W W 5s Seynrour Water 5 58 49. T H Trac & L 5s '44 T H Water Works 5s T H Water Works 5s Trac Terminal Co 5s Indpls Water Co Sis

ABC Brewin Belt Brine C2

1042 105 106 70 1011; 105 103 1032 103 106%;

Ts. 25 Home Tel and Tel. Ft Wayne. . . 52%; Hook Drugs, Inc 18%; Ind & Mich Elec Co pid Ts. 2108 Serv Co 6s . Hydro Elec iy Tc: ........ 66% dpls. Gas Co 6 s Pwr & Lt Co s Pwr & Lt $07 s Water Co Nor Ind Pub Serv pfd 5%s 75 Northern Ind Pub Serv pfd’ 8s 31% Northern Ind Pub Serv ra Ts Progress Laundry Co.. Pub Serv Co of Ind pfd LL b Co of Ind Brea Southern Ind Gas & Terre Haute Elec Co Union Title Co

zh 6 123% ade 28

Chicago Grain Futures

(By James E. Bennett & Co.)

9:45 AM.

Prev.

. High Low close Wheat—

Sept. Sirsa: $1.14 1.12} 1.11%

$1. 15% 3. $1 15%

i 11% 1.14

95% 90%

1.14%

417% 42% 43%

.83 8135 May 19% 19% a—ask; b—bid.

LOCAL CASH MARKET

City grain elevators are paying $1.07 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 cutting, $16017.

BOND VALUES EXCEED COST Times Special NEW YORK, Sept. 17—North American Bond Trust for the semiannual period ended Aug. 31, showed that market value of bonds held in portfolio exceeded cost by $651,334, company officials stated today.

Ys 19%

WE BUY—SELL—QUOTE

- Indiana Utility Bonds and Preferreds All Issues

BURKE

AE 8 COMPANY

Merchants Bask Bids. INDIANAPOLIS ‘Wayne

9% 27%

HOGS MAINTAIN STEADY MARKET, RECEIPTS LIGHT

Up 25 Cents at Local Yard.

With hog receipts totaling only 3000, the downward price trend was checked at the Indianapolis Union Stockyard today, the market holding Steady with yesterday's high and 10 cents above the lowest re-

- $10.50. Cattle, with receipts: of only 700, including. 300 on through billing, generally were steady, and lambs were strong to 25 cents higher. Hogs weighing between 180 and 250 pounds, with exception of a few choice which ranged upward to $10.50, sold from $10 to $10.35. Heavier hogs ranged downward from. $10.20 to $8.50. In the lighter division, 160 to 180-pound weights brought $9.50 to $10.10; 155 to 160 pounders ranged from $9.25 to $9.75; 130 to 155 pounders, $8.50 to $9.50, and 100 to 130-pound weights sold from $8 to $8.75. Packing SOWs ranged from $8 to $9. Holdover Is Large Today’s hog market included 1076 holdovers from yesterday, in addition to 3000 receipts. With the cattle market steady, top steers brought $9.75, and 1360pound steers sold for $9.60. Beef cows ranged from $4.25 to $5, cutter grades bringing $3.25 to $4. The market was steady on 600 vealers, the bulk better grades ranging from $9.50 to $10. The bulk of better grade lambs ranged from $8.75 to $9.50, and with slaughter sheep steady, fat ewes brought $2.50 to $3, top $3. 25. Sheep receipts were 1000.

HOGS Bulk Top Receipts [email protected] 11.35 450 11.10 10.85 10.60 10.35

10. .00@ 10. 35 10.50

Lightweight (160-180) Good and

9.75 9.25

choice.. [email protected]

Medium ag (200-220) Good t (220-250) Good Heavywelshis--(250-290) Good (290-350) Good Packing Sows—

fab oo ©

and choice. .

choice. .

(275-450) Medium vivnin Slaughter Pig (100-140) Good and Choice..

CATTLE —Receipts, 700— (550-900) Choize Cerenenine

Grane Ld — Saxwno

C (800-1100) Go

C (1100-1300) G

Eee sans zRRbhaN 990309038 Ponvonxnw ouMo D-II b Sind Saatsanns

M (1300-1500)

BoanoaRnOnsn

ie ad 8 039

; (550-750) G

Common, medium. Good and. choice.. Common, medium.

sae 2 S

(750-900)

~3 I< or

oo : 8 99939 0d

Common and medium Low cutter and cutter-. Bulls, good Cutter, co. and med. bulk..... Vealers —Receipts, 500— Good 2nd thoice aren trrsner.s $ Med

oenes mon

Calves ain. Good and choice. .$ Common, medium. Feeder and Stocker Cattle (500-800 Good and choice..$ 6.00@

m. and medium 4.50@ (800-1050) Good and choice.. 6.00@ 7

9 09d

ha o2 S 9

EEP AND LAMBS —Receipts, 1000—

Lom : y, (90-170) Good and choice. . Com. and medium. ba {Sheep and lamb quotations

Other Livestock

(By United Press)

CHICAGO, Sept. 17. — Hogs — Receipts, 9000, including 3000 directs; market steady to shade lower; spots around 10c lower than Wednesday's average, extreme top, $10.75; bulk, 200-300 1lbs., [email protected]: 3 hts, well- finished, 140-200 1bs., $9.50@ .60; bulk sows, $8. ed .50. Cattle—Receipts, 500 calves, 800. Absence of Kosher killings a weakening factor on weighty fed steers, better grade weighty cows .and heavy heifers, otherwise a steady market, with yearlings and light heifers firm and active: cows barely steady; bulls strong and vealers about steady with Wednesday's $1 downturn; best yearlings, $10 Weighty steers, . these scaling 1440 Jus: ri choice medium weights held bove $10.2 Reel yearlings to $10; bulk fed steers, $9@10; with lower grades, Bui ssy and short fed kinds, [email protected]; I, $5.75 down; vealers, $10 ‘down, mostly 9.50 down: stockers steady at [email protected]; with | betterg grades, $7.25 up to $8 and etter Sheep—Receipts, 12,000, including 500 35 rects; fat lambs moderately active, and more higher: good to choice as and Western, [email protected]; best held, $9.60@ 9.65 and above; sheep strong two doubles medium Montana raised ewes, $2.60; better - natives, [email protected]; jgeging lambs’ supply limited; undertone firm

RT WAYNE, Ind.

FO 17 —Hogs— Market, 5c hi her: 1 160- 180 be.

3. 60; 180-

( ; 130- : 130 Ibs., $8.15; 100-120 Ibs. $7.80. Roug) $8; stags, $6.50; calves, $9.50; lagabs, a 75.

63,000 SHARES PURCHASED NEW YORK, Sept. 17.—0Oils and Industries, Inc., N. J., has purchased 63,000 shares of Kirby Petroleum Co. stock, tHe second largest holding in that corporation, Arthur S. Kleeman, president, announced today.

NOTICE IANAPOLIS — SMP yoy Lien and Refun Gold Bonds, 5% Series of ° ey e is hereby given to all holders of the above Loam) Bonds, that Indianapolis io ater Som) pany Fog om De same for redemption an 1938, has deposited Pailiacihis Trus Bonds

Cattle Hold Even; Lambs i 3

cent high. A few strictly choice | medium weights sold upward to)

B.&

Baltimore & Ohio car foadings for the week ended Sept. 12 totaled 45,561, including 30,835 loaded on line and 14,726 received from connections, a drop from 49,995 cars loaded the week previous, and 46, 277 in the

like period last year.

PROPOSES PLANNING

Stuart Chase :

TRUCK MEETING SETFOROCT. 19

Group Active in Regulation of Business Under Federal Act.

Times Special

CHICAGO, Sept. 17.—The third annual convention of the American Trucking Associations, Inc. scheduled to open here Oct. 19 for a three-day meeting, is expected to be the most important and largest of any association convention yet held, Chester G. Moore, chairman, said today. :

“The national trucking body, organized in the days of the code, with its ineffective set-up, now is entering a period of stabilization under the Motor Carrier Act, which really has teeth in it. This means that the A. T."A., which supported

rier Act which grew out of it, will be intrenched more firmly as the representative of the trucking industry in the national capital,” Mr. Moore stated. Ted V. Rogers, A. T. A. president, who has traveled many miles organizing the trucking industry, is to take an active part in the convention. Election of new officers and directors of the A. A. is expected to arouse more than usual interest be- | cause, for the first time, other than truck operators may be elected to serve as association directors.

4259 EMPLOYED BY 540 INDIANA BANKS

Times Special WASHINGTON, Sept. 17 —Indi-

ana had 540 banks, employing 4259

$5,880,613 in 4935, the Census Bureau reported today. There were 528 single unit banks and 12 branch banks in the state. Of total employes, 1520 were executives drawing $3,002,454. The other 2739 accounted for the balance of the pay roll or $2,878,159. Average

both the code and the Motor Cara,

persons with an annual pay roll of |

CHASE URGES

CONSERVATION OF RESOURCES

National Planning Needed, Economist Says in New Book.

Times Spetial NEW YORK, Sept. 17. —Thoroughgoing and immediate readjustment of the balance between natural resources and man in America is essential if the country is to remain permanently habitable and American civilization endure, Stuart Chase declares in his new book, “Rich Land, Poor Land,” published by Whittlesey ouse, a division of the McGraw-Hill Book Co.

Mr. Chase urges a series of vast plans for the “reconstruction of the resource base of those communities where reconstruction is possible”; government control of the exploitation of minerals; elaborate, coordinated efforts to stop wind and water erosion, floods and droughts; the preservation of wild life; utilizal tion of water power; reforestation and other far-reaching measures.

He discusses the permanent employment of five million men on public works to carry out such a program, an enterprise much greater than anything being done today.

Planning Held Essential

National planning and conservation of this kind are essential; he says, if we are to “save the continent”—not only for future genera= tions, whose homeland it must be, but for ourselves. Already one-half of the original fertility of the North American continent has been dissipated by wind and water erosion, leaching, overgrazing, stripping of forests, mining the soil for crops, he states. In a generation, or less there will be no more reserves of timber, no more coppér or oil, no more of numerous species of wild life. Unless comprehensive control methods are insti=tuted, floods will grow worse; droughts will increase; dust storms will carry off more of the semi-arid but, if properly used, fertile,’ lands, he declares. What is to be done to check this devastation of natural resources? Mr. Chase asks, adding, “The question before us is whether we can keep an advanced technology based on mineral exploitation and yet come to terms with nature. I believe that we can. I know that we must, or face the choice bétween abandoning our machines and abandoning the continent. . An equilibrium must be determined and it must be planned.” But “there is no solution, either for the conti nent or for man, except in coe ordinated control that comprehends all problems. None can be settled by itself alone.”

Reconstruction Urged

Mr. Chase considers the possibilities 9f national planning in regions where natural resources il { ready are blighted, and says, “If { some degree of conscious foresight is to be the order of the day, three alternatives present themselves: (1) Move people out of submarginal and blighted areas and replant them in communities which have a resource base or other exchange medium: (2)

salary for executives was a little under $2000 a year, and for other! employes a little over $1000.

TRAFFIC MANAGER IS STATIONED HERE

Eastern Air Lines has announced that Clifton W. Power has been transferred here from Chicago to become resident traffic representative for the Indianapolis area. Eastern Airlines operate four trips a day through the city, two northbound and two southbound, the northbound schedules serving Chicago and connections to the Northwest, and the southbound

let the people stay and - -maintain them on the dole, their only function being that of consumers: (3) reconstruct the resource base of those communities where reconstruction is possible. Oust them, feed them or recondition them—so that they may-presently feed themsz'es. The last makes more sense politically and phsycholegically than the other two.”

HUDSON SHIPS 100,000 CARS Times Special

CHICAGO, Sept .17—Total ship-

ments of the Hudson ‘Motor Car *

Co.’s 1936 models exceeded the 100,000 figure when August shipments aggregated 4906, W. R. Tracy, vice president, announced today.

stopping at Louisville, Nashville, Atlanta, Jacksonville, Vero Beach and Miami, with connections to | South America.

° - ‘. Building Permits $270. H. K. Fatout, 3101 Ruckle-st, stoker. wii, Groover, 1336 N. Kealing-st, baseM. Fiblen. 48 N. Addison-av, addition. Bacbasol 5& 814 N. Senate-av, elevator repairs, Properties, 1220 Park-av, stoker, $525. Glen Xildman, . Overtstreet. 219 E. Fall Creekbivd., stoker, $518. PLR $295. Mrs 3147 Ruckle-st, Rome. $295 - Ho orace E. Hicks, 1124 N. Sheffield-av, J. G. ark School. W. Riverside-dr. stoker. i Shane, 1221 N. Dearborn-st, stoker, Yearling, 3629 Colliseum-av, stoker. Lou Maude Cox, 840 N. Temple-av, basement. $150. 1029 Bosartav. garage, $200: dwelling. $3500. rage, $200. O. H. Clark, 336 W. McCarty, electrical,

Harry Marer, 1029 E. Market-st, stoker. $300, r T5135. 50. L. N. Miller. 520 Moreland-st, garage. DL 2120 E. Michigan-st. stoker, $295 A, FP 'F. Overstreet, 151 E. Fall Creek-blvd, jess B. Ebert, stoker _Hollnin, 38 Bosart-av. stoker, $295. $79 or Tam Anderson. 434 W. 43d-st, stok- $. ise Wintie, 1101 N. Kealing-av, reop, lvin G. Jose Realty Co. 's Mrs. Hammons, 2012 N. Keystone-av, ga= $100.

STRONG BUSINESS COURSES

Offered in General Boukkeaping and Accounting, Steno phy, Advanced Accounting, - retarial Science and kindred ts. Students atgiven Pasion

business subjec tending here are not o the most thorough prep in businesslike atm

and large followin amo ness firms. This is the -“

Indiana Business College

of Indianapolis. The others t MotieaP ancl, Ne

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Central Business College

frchitects and Buliders Indianapolis §

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