Indianapolis Times, Indianapolis, Marion County, 18 September 1936 — Page 35

| Trends = Proposed Military

CCC Dangerous Flynn Says.

EW YORK, Sept. 18—Maj. Gen. George Moseley, of the ~ United States Army, has made a ~ proposal about the CCC. The general says the CCC should be continued; that service in it should be for six months; and that it d be compulstory for every reaching the age of 18. The time, he urges, should be divided equally between service or work and military training. And this proposal is made in an article published in the official organ of the CCC. The precise meaning of this “suggestion ought . to be made clear. No such plan Mr. Flynn ever before has been offered in American history. And while it has been discussed somewhat of late, no person in high authority has ever before broached it. The CCC, as now organized, is voluntary. It was set up to offer a refuge for young men out of work, who wished -to escape from want and idleness. Their work was utilfzed in the process to perform certain useful tasks throughout the nation.

= n

= UT now General Moseley sugB gest two vital changes. First, he suggests that the plan be made compulsory and, second, that military training be introduced. If this were done, of course, we would at once have a standing draft army, like the nations of Europe whose militarism we have so persistently deplored. There is nothing new, of course, in: the proposal of a large standing draft army of conscript soldiers. But this army will have soldiers ‘who will give half their time to the rifle and half to the pick and shovel. And this brand new here. , The proposal was made on the very day when Reichfuhrer Hitler made his sensational review of his “labor conscripts” in Nuremberg, when, on one field, 50,000 young men, with shovels on their shoulders, who had been drafted by the government for work, marched by their leader.

is

zn

HE spectacle was commented on . all over Europe and America. The labor conscript is not ne win ‘history. So far as recorded history is known, it made “its appearance in Egypt under the pharoahs. Cheops, the builder of the Great Pyramid, is said to have drafted a vast army of workers to build his monument. During the inundation, when farming was - suspended, he summoned the field hands from their farms and organized them into a great army of workers along the Nile. The practice persisted at least a thousand years after him and most of those extraordinary temples which are : now seen at Luxor and Karnak and the site of Memphis were erected by men in involuntary servitude. Historians always have spoken of it as a species of slavery, which it is: 3 Hitler has restored this to Germany, and his review last week was notable because it was a frank glorification to this ancient Egyp‘tian form of slavery. This is the plan which Gen. Moseley proposes for our American young men. Where it would lead, of course, no

man can tell. 1Copyright. 1936. NEA Service,

SEE-ADVERTISING GAIN

Times Special : CHICAGO, Sept. 18.—The volume of advertising placed by retail merchants in the newspapers of 67 major American cities during the last 23 weeks, was larger than that placed during the corresponding weeks of 1935, Advertising Age reported today. As a result, retail advertising in these cities now is 59 per cent greater than it was at the similar time last year, and weekly figures indicate that this percentage of gain will be increased as the year progresses, the report said.

n =

Ine.)

Fruits and Vegetables

{Quotations below, subject to change, are average wholesale prices being offered to buyers by local commission dealers). FRUITS—Pears Michigan Bartletts, bu. $250. Rananas—Selected, 1b., $c. Apples—No. 1 Maiden Blush, 22 inches $1.85; No. 1 .(early) Wealthy, 2's mhes up, $1.60; No. 1 Summer Rambo, 2'a inches up, $1 60. Lemons—Sunkist, 60s, $7. Limes—Mexican, carton, 13s, 22%c; Persian seedless, per 100, $2.50. Peaches— Elbertas, 2 inch, runes, 16-1b lug, $1. ncords, 4-qt. basket, 25c. MELONS—Cantaloupes -— Home-grown, ., $1752; Honey Dews, vine ripened, $1.75. Watermelons—Home grown, 25@

VEGETABLES—Heans—Round stringless, bu. $2.75. Beets—Home-grown, dez., 2c is Carrots—Ohio, doz., 45c. Cauliflower—13s, erate, $1.75 Celery —Michigan Mammoth, washed and trimmed, doz., 60c. Cucumbers —Michigan, bu., $I. Corn—Home-grown, for.. 356 0c. Kale—Home- yn, bu., 65¢. Lettuce—Iceberg, California home-grown, 15-1b basket Mangoes, home-grown, bu., $1.25; puck basket, doz. 25c. Mint — Doz.. a0c. Onions — Northen vellow. 50-1b. bag. 90c. Parsley — Home-grown, doz, 40c. Peas— Western Tel. hamper, $3. Potatoes—Eastern Cobblerd, 100-ib. bag, $2.65. Sweet Potatoes—Eastern Jerseys, bu., $1.50. Rad§shes — Ohio white, 2-doz basket, . e—Doz . 45¢. Turnips—New bulk, bu. $1.50. Tomatoes—Home-grown, ket, $1: bu. $1.75.

75c. Peppers—

Produce Markets

{The prices quoted are paid for stock gathered in the country, while delivered in Indianapolis the price is a cent higher.) Heavy br hens ibs, and over 16c; under 5 Ibs. 13c: Leghorn breed hens, llc: colored springers., 133 Ibs. and over 1l4c; Leghorn springers, 12 Ibs over, 13er old ducks, white, § x Sc: geese, full Jearhorte. all guineas. 1': ibs. up. 15¢: 8c; No. 1 strictly tn eggs, YD Se Each full cass must Ibs. gross, a deduction Fo 10 Seog a nd under 55 Ibs. will made. Butter, 38@3%¢; No. 2 358 360. Butter:

(By United Press) Sept 18. —Eags— Market. Ts cages: fresh graded ts. 6c: Qirties. 2c: cks. 19¢.

Daisies, 19 or erate: demand : Idaho Russet 2.60; ‘Idaho Triumphs, n Russet Burbanks. $3.45 Triumphs. $2.55; ; Colorado umphs,

+

Abreast of The Times on Finance

¢

u., $2.25. Plums—Italian | Grapes—Michigan |.

S. $4.50; Jeaf, |

12-bu. bas- |

PAGE 32

FRIDAY, SEPTEMBER 18, 1936

riod last year.

come. Tax Collections Up An estimated total of $261,262,145 of Bird install. ment income tax colléctions from Sept. 1-15 has been announced by the Internal Revenue Bureau. The figure compared with £221,018,483 for the corresponding pe-

RAIL DIVIDENDS LIKELY TO SET |

T-YEAR RECORD

(Traffic Gains, New Revenue | Act Prompt Larger Dishursements.

BY CHARLES A. DONNELLY Times Special Writer . NEW YORK, Sept. 18.—Dividend | disbursements by Class I railroads {for 1936 will establish a new peak | since 1929 as a result of an expected { windfall of extras and increases in | the few remaining months of the { year, financial circles estimated to- | day. Such a showing is anticipated {on the basis of sharp improvement | which has been registered in rail{road earnings, together with the re- | alization that the carriers will adopt la policy of liberality to avoid heavy {tax payments under the new reve- | nue act. | Earnings of roads are running | far ahead of the earlier expecta-

New York Stocks

{By Thomson & McKinnon) Noon High lew N.Y. close Olis— Amerada Atl Rig Barnsdall Consol Oil ...... Cont of Del Houston (new) .. Mid Cont Pet .. Ono i 3

Pet Philips Peet ev Plymouth Oil ... ]

Tidewater Assn.. Steels— Am Roll Mills .. Beth Steel 6 Byers A M Cruc Steel Ludlum Steel Mid Steel Natl Steel Otis Steel Rep Iron & Steel US Pipe & Fdy 53 U S Steel .. 713 Youngsiows S&T 80

5334 . 30, . 443 67% 18 23%

Graham Mot Hudson . ii Mack Truck . ash

N. Packard Reo

{tions of officials. Many lines will {show net income after all charges | for the first time since the begin- | {ning of the depression. The carriers are making this showing de- | spite heavy expenditures for maintenance. The great majority are {spending not only to put property lin the best of shape, but also to {modernize rolling stock.

| Western Maryland May Pay |

An outstanding example of the |

{return to prosperity of railroads is that of the Western Maryland, | which according to indications will | make its first payment in the history of the present company on the {7 per cent senior preierred. Approx{imately $120.75 in back dividends |is now owed on these shares. Other payments which are ex- | pected follow: | Kansas City Southern—Resumption on | $4 preferred stock. Payments Suspended April, 1833. «| Chicago, Burlington & Quincy—$2 a share on capital stock contemplated. Great Northern—Dividend of $1.50 to $2 share on Pr herred. Payments suspended ery. 1832. Norfolk & Western — Extra of $4 a plus quarierly of $2 a share on common. Chesapeake & Ohio—Jump in common Jats to $3 annual basis, with $1 extra ikely. Pennsylvania—Extra of $1, plus usual $1 payment. Southern Pacific—Resumption on common shares with $2 a share likely. Payments suspended Jan. 1,°1832. Pere Marquette—Resumption on prior preference and preferred. Dividends suspended since second quarter of 1831, Reading Co.—Extra of S1 on common. plus regular quarterly of 50 cents. _ Atlantic’ Coast Line — Resumption on common. . Payments suspended since Jan.

11, 1932. & Nashyille—Lift in semi-

Louisville annual payment to $3. Last dividend $2.50.

Virginian Railway — Dividend of $3 za share. Payment of $2.50 made in June. New York, Chicago & St. uis—Resumption on preferred Payments suspended since October, 1931. Others May Delay

Other railroads, such as the New York Central, Illinois Central, Southern Railway and Lehigh Valley are making good showings, but jt is doubtful that any disbursements will be made this year. Lehigh Valley may benefit from a long-awaited decision of the Mixed Claims Commission on the Black Tom case, but it is likely it would prefer to pay off its RFC debt with a 10-year note issue first. Southern Railway, although it may show the full preferred dividend earned, may prefer to strengthen its financial position. This may also be true of Illinois Central, which faces a maturity in 1937. As for New York Central, reports are current of a dividend resumption, but many believe that the management will prefer to build up its current assets position.

AMOSKEAG HEARING SET FOR SEPT, 28

By United Press > BOSTON,. Sept. A hearing had been ordered today into “financial sabotage” which Peter G. Borre, chief New England counsel for the Sabath Congressional Committee, asserted cost inves=tors in the Amoskeag textile business $50,000,000. Mr. Borre directed that the hearing begin at Manchester, N. H., probably on Sept. 23. He said interviews with witnesses and review of “considerable data” have revealed there is “more than cient grounds for a full inry” as to: Affairs of Amoskeag Manufacturing Co., operators of what once was America's largest single textile unit. 2. Affairs of the Amoskeag Co, a holding group. - 3. Formation of the Bondholders’ ‘Protective Committee. 4. Activities of “Some financial interests with which the officers of the company were interested independently of the finances of the Amoskeag Manufacturing Co. itself, namely, Dumaine’s, an investment | trust.”

18.—A public

av]

A 14-year-old 4-H Club boy, Lewis Lanning, Knox County, showed the first prize litter in the lightweight class in the first Hoosier Ton Litter show at the Indiana Union Stock Yards yesterday. Other first prizes were won by A. B. Brewer, Grant County, in the heavyweight class, and Arthur Wisker, Shelbyville, for the heaviest litter. Most of the 341 animals shown went on the auction block immedi~ ately after the judging, and were purchased by packers or order buyers at prices ranging up to $13 a hundredweight.

FIRM SHOWS ASSET GAIN Times Special JERSEY CITY, N. J, Sept. 18— Net assets of $9,524,054 for the quarter ended Aug. 31 were reported by the Maryland Fund, Inc, representing a gain of $1,675,806 over net assets at the close of the precagding quarter.

G. M. C. FOREIGN SALES HIGH Timea Special NEW YORK, Sept. 18.—Sales of General Motors cars and trucks in overseas markets during August totaled 24966 units, the largest August aggregate for any Jour since 1928 and 16.4 per cent above the 1935

KNOX COUNTY BOY |Bheiacd Fries 3-5

Studebaker eis Yellow Truck Motor Access— Bendix . Borg Warner Budd Mig .. Eaton Mig . 3 Flec Auto Lite Elec Stor Bat... Houdaille Murray Body ... Stew Warner ... Timken Roll : Timken Det Axle Mining— Am Metals m Smelt Anaconda Cal & Hecla.... Cerro De Pasco. Dome Mines 58 Gt Nor Ore..... 313, Howe Sound .... Ins Copper Int Nickel Kennecott Park Utah St Joe Lead... U S Smelters... Vanadium Amusements Loews Ing Radio Corp Paramount ..... RKO Warner Bros... Tobaccos— Am Tob “B”.... Gen Cigars .... Lorillard Reyn Tob Rails— Atchison 1% Toast Lines,

Cop.. 4 ee. 3

Be 25

ie pfd Gt Northern pid Ill Central 27

as . West Maryland. . Equipments—

. 32 Am Steel Fdy ae Bald Loco Gen Elec Gen R R Sig Pullman Ing .... West Air Br Westingh Elec. . Utilities— Am & Por Pwr.. 67 Am Power & Lit 1134 AT&T Am Wat Wks Col Gas & Trac. Comm & Sou Consol Gas .... 42 Elec Pwr & Lit...

North Ames eva Pac G & Peoples Gas as Pub Serv N J So Cal Edison. Std Gas Stone & Webster Jnitad Corp... Un Gas Imp Ut Pwr & Lt A Western Union. Rubbers—

Firestone G

U S Rubber pid. 4%

Miscellaneous— Allis Chalmers.. 54% Am Can 24 Am Mach & Fdy 3% Anchor Cap .... Brklyn Moh Tr. 344 Surroughs Add. © 283 J ICa 7%

Contl C Caterpiii: Tract 751 Crown Cork .. 80% Curtis Pub Deere & Co .... 712 Eastman Kodak 173 Be Wheeler., 3: 1

Natl Cash Reg. : Rem Rand : Underwood E .. Foods— Armour ... Armour 6 pid. Beatrice Cream.

‘| Borden Prod.

Cal Packing Can Dry

Cuban Am Sug.. Gen Baking....

Gen ds | Gold Ta

Investment Trusts

(By Thomas D. Sheerin & Co.) s£ Administered Fund 2d Be Ae Affiliated Fund, Inc. American Business Shares *Broad Street SnvesHng. . Bullock Fund, Ltd . Century Shares Trust’ Corp “AA” or “Acc” Corp “AA” or “Acc” Corp Trust Shs (orig)... “Diversified Trustee Shs

{unmod) “gt x 2

Dividend Shares Inc

{ General Investors Trust

SHOWS PRIZE HOGS

Incorporated Investors Investors Fund Amer Market ‘Street Invest Corp.. Maryland Pund Massachusetts Investors Mutual Investment Fund *Nation-Wide Voting North America Tr Shs 1955 . North American Tr Shs 1956 . North American Tr Shs (orig) Quarterly Income Shs Selected Amer Shs Inc Selected Amer Shs (orig). Selected Cumulative Shs Selected Income Shs State Street Investment Corp 110.50 1 Supervised Shs Tae (Delaware) 14.29 Trus ak 1.15 Trustee std PN bres "pA". Trustee Standard Oilfunds.. *Ex-Dividend.

Unlisted Stocks

{By Blyth & Co.) NEW YORK STOCKS

*Bankers Trust *Central Hanover ...... SNP

*Guaranty ...... *Irving *Manufacturers National City First National Boston *National Shawmut i IEE I INSURANCE

“Aetna Fire Insu *American Ins of “New York. . Baltimore American . City of New Yor Pranklin Fire Federal Insurance Great American Insurance. “ts Hanover Fire ....... uceves Hartford Insurance . aanasdtieessyns re

«G Prev. |

W Sugar .... Natl Biscuit Natl D Prod.... Purity Bak . 8 Porte Rico Sug Std Brands .... United Pruit ... Wrigley 66 Retail Stores—

Allied Stores ...

35% 303 27% 164 31 15%

35% 30% 26% 18% 31 15

RH May Dept St Mont Ward Penney J C .... Safeway St .... Sears Roebuck... Woolworth Aviation— Aviation Corp .. Boeing Aireft .. Curtiss Wright . Curtiss Wr “A”, Douglas Air ... Sperry Corp . Uni Aircft New. Chemicals—

Air Reduction .. Allied Chem ....22 Com Solvents ... Du Pont . 1 Liquid Carb .... Math Alkali .... Monsanto Chem. Natl Dis (new).. Schenley Dist .. Tex Gulf Sulph. Union Carbide .. 8 Drugs— Un Drug Vic Chem Financial— Adams Exp . . Allegheny Corp . . Am Int Corp.. Chesa Corp ... Lehman Corp Transamerica ‘ Tr Contl Corp.. Building— Am Radiator Gen Asphalt Int Cement Libby Owens Gis U S Gypsum.. Household— Col Pal Pect.... 3

(new) . 3 1:

Mohawk Carpet. Proc & Gamble. Servel Inc 2 Textiles— Amer Woolen Belding Hem . Celanese Corp. -. Collins Aikman. . Indus Rayon .. Kayser Julius

Chicago Stocks

(By Atkins, Hamill A Gates)

149% 261, 56 317% 26

5712 25

J D Adams Advance Aluminum Allied Products Asbestos Mfg | Bergnot Blessing

0 + | Butler Brothers Cities Service Commonwealth Edison

Dixie Vortex Cup Electric Household General Household .. Godchaux Sugar “A” Great Lakes Dredge ......00n.

Lincoln Printing Loudon Packing McGraw Electric Nat Gypsum Noblitt-Sparks Sundstrand

Zenith New York Curb

(By Atkins, Hamill & Gates)

Aluminum Co of America Am Cyanamig Am Gas Electric Am SR ai Am Superpower Ark Natural Gas Atlas C Catlin aT “Indust Alcohol. u Carrier Corp Elec Bond & Share . Glen Alden (1) Greenfield Tap & D Gulf Oil Corp of Pen 4 Humble Oil & Refining Cae ..... 8 International Vitamin Long Island Lightin ; Molyhaenum Corp oO Natl Bellas Hess Inc Niagara Hudson Pwr Pennroad Corp Root A St Regis Paper C Salt Creek Dr duoers Assn ... Sunray Spencer Store Sterchi Brothers Stores -. Stutz Motors . Tubize Chatillon Corp see Technicolor

Local Securities

(By Indianapolis Borid 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 : (T H) 4%s '61...1027; Ft W 5's Be Ft W 6s ’43....103% y Inc 5s 67... & Tel 512 s "33 we B ater Works '58. .

Citz Ind

T H Water Works 53 '56 T H Water Works 5s '49 Trac Terminal Co 5s '57.. Indpls Water Co 32s '66 ..... ca Docs

ABC Brewin Belt Railroa Belt Railroad & Stk Yds. Central Ind Power, pfd, 7s.... Home Tel and Tel. Ft Wayne. . Hook Drugs, Inc Va Ind & Mich 0 ‘Co ‘pfd’ Is. +106 Ind Gen Ser Ind Hydro Elec Co Tc. Indpls Gas Co_ 6s va Indpls Pwr & Lt Co pid 6 a Indpls Pwr & Lt Co pid 8345. jndpls Water Co pfd 5s 2 or Ind Pub Serv pfd 5'2 15 None, Ind Pub Serv od’ 6s 81% Northern Ind Pub Serv pid 3 87 Progress Laundry Co.. Pub Serv Co of Ind ptd 6s. 24 Pub Serv Co of Ind pfd 7s .. . 591; Southern Ind Gas & El pfd és 103 Terre Haute Elec Co 6s 28 Union Title Co

Money and Exchange INDIANAPOLIS STATEMENT

Clearings $2,760,000 Debits 7,154,000

TREASURY STATEMENT (By United Press) WASHINGTON, Sept. 18.—Government expenses and receipts for the current rear to Sept. 16, as Sompared with a year ago:

This Yea Last Yea ..$1,364, 211, 806. 33 $1,604, in. 292. 31 «i 811 5.85 843,826,220.50 760,647,071.81

Expenses Receipts Deficit

Pub. Gold Res. Customs Chicago Grain Futures (By James B. Bennett & Co.)

1227.723.822.66

' $3.423.033.09 . 82.747,630.60

Prev. igse 1.131% 1.123

15% 14%,

1. L 1.13%

A431 43% 433%,

B4s iG. 82% 8233 a—Asked; 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 cut-

12 ting, $16@17.

PROTECTIVE GROUP FORMED Times Special NEW YORK, Sept. 18.—A protecfor holders of 8

HEAVY HOBS UP |

|

50 CENTS WITH MARKET UNEVEN

Cattle

Lambs Higher at | Local Yard. | |

Hog prices ‘were unevenly steady | to 50 cents higher atthe Indianap-

Generally Steady, |

STUTZ BUILDS LARGER PACK-AGE-CAR

olis Union Stock Yards today, with | |

weights above 225 pounds generally | showing most advance. Underweights were 25 cents higher, and | packing sows 50 cents higher. Cattle were nominally steady, | vealers barely steady, while lambs were mostly 50 cents higher. Top price . paid for hogs, of | which receipts totaled 4000 plus holdovers of 730, was $10.50. Two hundred to 260-pound weights | ranged from $10.30 to $10.50; 260 to | 290 pounders, $9.90 to $10.45; 290 to | 300 weights, $9.65 to $10, and 300 to! 400 weights, $9 to $9.90. | Lighter weights from 100 to 180 | pounds ranged from $10.40 down to $8.25. One hundred eighty to 200-

pound weights ranged from $10 to $10.40; 160 to 180 pounders, $9.75 to $10.15; 130 to 160 weights, $8.75 to $9.85, and 100 to 130-pound hogs, $8.25 to $9. Packing sows brought from $8.50 to $9.50, generally 50 cents higher than yesterday. Recipts of 700 cattle included six carloads of feeders on which nothing was done early. All Killing | cattle were nominally steady, and! vealers, barely steady, ranged from $9.50 to $10 for .the bulk of better grades. There were 600 calves on the market. The bulk of better grade lambs ranged from $9.25 to $10, and slaughter sheep sold on a steady market from $2.50 to $3, top $3.25. Sheep receipts totaled 1000.

HOGS Top Receipts $11.10 1800

[email protected] 10.006 10.35 : 10.00@ 10.50 Light Lights— (140-160) Good and choice. 4 3.09 9.85 fediun .50@ 9.35

Lightweights— f160- 180) Good 3nd | [email protected] 9.00@ 10.00

ediu (180-200) Good. nd i 10:00@ 10.40 Medium [email protected] Medium Weights— (200-220) Good and (220-250) Good and Heavyweights— (250-290) Good and (200-350) Good and PaiEing Sows-— (275-350) Good

choice. . choice. .

choice.. choice...

(275-450) Medium Slaughter Pigs— (100-140) Good and choice. . Mediu

TLE —Receipts, 700—

(550-800) Choice

(900-1100)

82 BI 102 02

(1100-1300) 8.25@ 9. 00 6.75@%8.25 9.00@ 9.75

1300-1500 { i 8.00@ 9.00

8.50@ 9.50 7.756 8.50 5.00@ 7.75 7.7563 9.25 5.00@ 17.75

(550-730)

Common, medium. Good and choice. .

(750-900) Common, medium.

5.00@ 5.75 4.00@ 5.00 3.25@ 4.00 5.65@ 6.00 4.25@ 5.90

Common and medium Low cutter and cutter Bulls, good Cutter, com. and med. bulk... Vealers —Receipts, Good and choice Medium Cull and common ........ Sean Calves (250-500) Good and choice..$ 7.00@ Common, medium. 5.00@ Feeder and Stocker Cattle (500-800) Good and choice. $ 6.00@ 7.00 om. and medium 4.50@ 6.00 (800-1050) Good and choice.. 6.00@ 7.25

600— [email protected] 8.00@ 9.00 5.50@ 8.00

8.50 7.00

$ 4.00@ 4.25 3.50 00 SHEEP AND LAMBS —Receipts, 1000—

[email protected] 9.00@ 9.50 6.50@ 9.00 4.75@ 6.50

2.50@ 3.25 1.50@ 2.50 on clipped

wes— . (90-170) Good and choice . Com. and medium. (Sheep and lamb quotations basis.)

Other Livestock

{By United Press) ICAGO, Sept. 18. — Hogs—Receipts, including Todo directs; market, mostspots unevenly S@15¢c lower 0 $10.60; most 8

CH 7500. ly steady: than Thursday’ s average; desirable 200-290 lbs, 5@. 30. 35; well finished, 160-200 Ibs, [email protected]; most hight and medium weight sows, % Sos. 50. Cattle—Receipts, 2000; calves, 500; yearling steers and light heifers acutely scarce;

market, fully steady; unreliable outlet tor medium weight and weighty steers; top | yearlings and medium weights, $9.50; m 0% of run under $8; few light heifers. $8.5 strictly buyers’ market on all grade $8.30! very few above $4, with low cutters, $3; bulls and vealers, steady: top sausage bulls, $5.75: vealers, $10 down. Sheep—Receipts, 9000, including direct; fat lambs active, 25@30c, or more, higher: bulk westerns, $9.75@ 10; most natives, $9.75 down: few of top quality to all | interest. $10; yearlings, $8.25@9. Jo bulk at inside; sheep. steady: feeding lambs, firm; few choice feeders. $8.50.

FORT WAYNE. Ind., Sept 18 I | 10@15¢c Bighel: 160-180 1b S.. $9.75: 180-200 | Ibs., $9.90: 200-250 lbs,, $10.10; 225-250 ibs, $10.20: 250-275 1lbs., $9.95; 275-300 | $9.75 300-350 lbs.. $9.45; 150-160 Ibs.. 140-150 lbs.. $8.80: 130-140 Ibs., $8.50; 12 130 lbs., $8.25; 100-120 lbs., $3: roughs, $8; Sass $6.50; Shlvee: $10; lambs, $8. AFAYETTE® ©

sa fo. Righer; 260-280 1

167) |

d., Market, 35-360 I: $10. 0200 10.30; , $9.90610.05; 280-325 1 $9.40 a 1 **180-300

.. [email protected]; 75. "Bin calves, $9.50, down;

lambs, $9, down. (By Times Special) LOUISVILLE, Sept. 18.—Cattle—Receipts. 350: trade mode; ately active; slaughter classes cattle fully steady, instances stronger on few lots inbetween butcher steers and heifers: better grades scarce: one small lot good lightweight mixed veari ; otherwise most medium and lower gfrade RIas8 slaughter steers and heifers around $7 and below: odd butcher cows in a $4@35 range: cutter grades largely $3624: bulls unchanged at $4@5, lves—Receipts, 300: vealer market not fully established: all jndications, however, point to steadv prices or $9.50 for t-st. Hogs—Receipts. 800. including 458 : hog arkei slow due to higher asking prices: receipts extremely light and hardly enough to vasside orders: sellers asking upward to 0.50 5 best 200-250 1bs.. bidding steady 1 $10.

S., | Towa South Utilities 5% i | Kansas P L 4's 65 . { Los Angeles G & E | Louisville G & E 3}

Sheep—Receipts. 650: meager as fat lambs. opening steady. few lots carly better grades, $8.75 to mostly 39. | Receipts 1 i calves, i 276: hogs, 532 . 369. Eh ipments Thursday: none; calves. 85; hogs. 167; sheep. .

Building Permits E. Neal, 5607 Carrolton-av, chimney, a . V. Randall, 270 S. Sherman-dr, roof, Kenneth Wells, 2115 Barth- v, f, 75. Lincoln Hotel. Washington ps

is.

The Stutz Motor Car Co. is to show for the first time at the

National Bakery Exposition in Atlantic City Sept. 26-Oct.

larger model Pak-Age-Car (shown “frequent-stop” delivery of bulky Similar to the smaller

drive vehicle and with a permanent

In attendance at the Atlantic City showing of the Pak-Age-Car

be M. E. Hamilton, Stutz Motor Car Co. i and Charles G. Ade, Stutz National Accounts

Campbell, sales manager, Division manager.

above),

seat and controls.

president;

which was designed for merchandise. ’ Pak-Age-Car already used for house delivery service, the new model is to be offered both as a stand-

1 its new

house-to-

C. Alfred

LENDERS AGAIN ARE INTERESTED IN FARM PAPER

Shift From Government to Private Financing Is Seen.

By United Press WASHINGTON, Sept. 18.—Private lenders dre returning to the farm mortgage market from which they scurried during the depression, the Farm Credit Administration revealed today. A sharp shift from government lending to private financing of farm mortgages during the first five months of this year resulted in private lenders supplying 73 per cent of new money going into farm investments. During that period private lend ers accounted for $273,000,000 of the

FHA HOPES TO

HELP BUSINESS

Modernization Program May Stimulate Building Trades.

Lessening the usual seasonal drop in building trades activities this fall and winter is expected to result from the “Modernize for Winter” program now under way by the Federal Housing Administration, according to a report received by R. Earl Peters, FHA Indiana director. The report was made by 1. R Gignilliat Jr, national deputy administrator, who recently returned to Washington after extensive national tour to get the program under way. Mr. Gignilliat’s tour primarily was to get the FHA modernization program under way. It is to be participated in by banks and other eligible financial institutions, public utilities, manufacturers and building supply dealers. He outlined the complete program at regional meetings of Housing Administration offices in New York, Cleveland, Chicago, Denver, San Francisco, Dallas and Atlanta.

In addition to substantial results to employment in the building trades which are expected to follow the modernization program, it was explained in the report that the modernization phase of the National Housing Act expires April 1, 1937, and that participating groups have only a limited time left in which to get the advantages of the plan.

'36 HOME BUILDING FIGURES INCREASE

Times Special NEW YORK, Sept. 18. — Home building in the United States during August rose to the largest total for any month since March, 1931, according to an F. W. Dodge Corp.

report today. It was shown that residential construction last month jumped 41 per cent over the July figure. Covering 37 states east of the Rocky Mountains, including the District of Columbia, residential building expenditures last month amounted to $100,522,500 against $40,528,300 expended in August, 1935. In July, 1936, expenditures for home construction amounted to $71,993,700. “Bulk of residential work undertaken in August represented private operations,” the Dodge company commented in its reports. A part of the gain was attributable to accelerated activities under the PWA housing program, it was learned. “Gain in residential work, as com= pared with totals for August, 1935, were well distributed geographically, with each major area in the territory east of the Rocky Mountains sharing in the general advance,” the report said. fs

New Bond Issues

(By Lyons & Co.)

Allied Stores 5las ' Arkansas Gas 4s Associated I eas 4s '65.. B & O 4'as '39 Beh Steel 334s ‘66 Cal Oregon Power 4s '68 Central Maine 4s '66...... avi Central III 3'2s '66.. 1

| Cincy Gas & Elec 3s '66 iC & O

E 3's '96

| Chicago West In 4'2s '62 ... { Chicago Un Station 3's "15. .

Cleveland Tractor ss '45

| Columbus Railway 4s | Com Invest Tr 3las

Conn River Pr D & L 3%s 61 Consolidated Oil 32s ’

| Cudahy Pkg 3%s ’55 { Cudahy Pkg 4s ’50 ! Edison Illum Boston 3'is "85. .

Gen Motors Ac Corp 35 '46 . Gen Motors Ac Corp 3%s "51. . Indianapolis Water 3lzs ae. 28

Narragansett Elec 3'2 Y Chi St Louis 3 is New York Edison 4s '66 Okla Natural Gas 42s '51 Okla Natural Gas 5s '46 Pacific Lishting 415s '45 Penn R R 3%s '70 Penn Tel 4s 85 “ Potomac 2 Power 34s '66. . Pub Serv N H 33%s 6 Railway Lite 4s Sagueney Power 4% GC & -“

| San Diego

Southern Cal Gas 4s '65 Southern Kraft 4! las "48 So West G E 45° Wisconsin Gas & E Wisconsin Pub Serv 4“ % et.

BROKER CHANGES FIRMS Times Special NEW YORK, Sept. 18—James F. Shaw, for 12 years a partner of Abbot, Proctor and Paine and its predecesor firms, is to join the firm of Fenner and Beane, members of the New York Stock Exchange, as a general partner, it was learned today.

N.Y. Bo

nds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX: (1926 Average Equals 100)

60 Bonds.

20 Util.

(Copyright, 1936, by Standard Stalistics)

U. S. GOVERNMENT

(By Abbott, Proctor & Treasurys

ig 1947-52 5

Alleg Corp 5s Aller Corp 5s '4

Frgn Pow Se ‘2030 .

Atl Coast Line 4s ’ Atl Coast Jane Sr

Atch T Am Wat Wks 6s '75. ‘Am Rolling Mills 44s 45 Balt 2 Ohio 5s 0 Balt & Ohio 6s ’95 pai & Ohio 42s '60.. a Bi 3 128 57...

Cleveland Un Term 5s Cleve Un Term 4's ak Col Gas 5s May '52. Col Gas 3s April 53.. Col aGs 5s '61 Can Pac Dorp 4s e ‘60 Big a. Colorado & So 4155 180 Chi &West Ind 4s ’52 Chi & Nor West 434s ’49 Con Gas 4s ’51 Chesa Corp 5s '47

Grt North “G’’ 4s 46 . Grt North “H” 4s ’48 . Grt Northern 4'2s '77

Hud & Manhat Ref 5s ’57 . [1] Cent 43s ’ [il Cent Jt 412 [11 Cent 5s 63

[nternatl Hy Elec Stent Tel & nternatl Tel & Tel 5s nternatl Tel & Tel 42s '52 . Lellizh Valley 4s 2003

6s

s Nickel Plate 415s ’78 ....... Nickel Plate 5'5s '74 Y Cent 5s 2013 N Y Cent 415s 2013 aa N Y Cent Cony Nor Am Co 5s 61 Nor Pac 3s 2047 Nor Pac 6s 2047 Nor States Po 5s 41 ....... New Orleans Term 4s '55 Otis Steel 6s ’41 Penn RY 4s’ Penn Ry 44s Penn Rv 4%4%s Penn Rv Bus Portland. Gen Ela ortlan 7 as ‘80 Para PULLS '55 Fo L 4% 3 *53

Penn P & ostal Aol & Cab Ss Rem d

Shell Union. ol) fo 51.

Warner Bros 6s ‘39.

BONDS Paine) Prev. Close 118.30

Close

.. 90%

ceeransens 9634 sosvause «104%; iki

Gen Stl Cast WW 55s 49 ...

.s

[nterboro Rapd Trans 55 '66 . ‘44 . 55 & Tel a .

..105%

Western Mary 5%s "77........ 1

Western Union 55 3 a Youngstown 8S & 45 61.

Youngstown S & T Tals =f.

FOREIGN Argentina (A) 6s Australia 4155 ’56 Brazil 8s 41 Denmark 45s French 7%s German 5's "65 Italy 7s '51 Japan 6s ‘54 Po and 7s 47 .... Rome 612s ’52 Yokohama 6s '61..

INCOME, PROFITS GAIN

Times Special

CHICAGO, Sept. 18—A gain of 8.5 per cent in operating revenue and of 12 per cent in income, after depreciation, but before interest, for the 12 months ended June 30 over the preceding similar period,

was announced today by Hamilton Allport, Texas-Electric Corp. presi-

dent.

While operating revenues were

increased from $234,140

to $254,051,

operating expenses, including maintenance and local taxes, were cut slightly from $55,200 to $54,121.

} total farm mortgages recorded, | while the Federal Land Banks and | Federal Land Commissioners fur|mished $102,300.000. “Private investors and farm | mortgage creditors have realized that good farm mortgages are still among the safest types of investments, as they have always been, and gradually are resuming their former important place in farm mortgage financing,” Gov. W. 1, Myers of the Farm Credit Administration said. The depression caused private creditors to curtail lending on farm mortgages three years ago, and the Federal Credit Corp. stepped in to keep open the channels of farm credit. In 1934 and 1935, loans by the land banks and commissiofis totaled $1,727,000,000, compared to $1,027,000,000 loans by all other creditors.

Private Lending Increases

In the first five months of 1934, borrowings from the Federal Credit Administration were $589,000,000, more than twice the $204,300,000 furnished by private lenders. The peak was reached in 1934, and other agencies gradually re-entered the farm mortgage lending field. The first five months of 1935 showed the land banks and commissioners lending $232,800,000, compared with $257,800,000 furnished by private sources. The lending picture became further changed this year as banks, insurance companies, individuals and other lending agencies became more bold in re-entering the field. Commercial banks accounted for $79,200,000 of the farm mortgages

{recorded in the first five months of

this year, compared with $47,900,060 in the same period of 1934. Insure ance companies jumped their activities from $18,000,000 in the first five months of 1934 to $46,800,000 in the like period of 1936. Individuals recorded a total of $115,900,200 through May this year, compared with $12,900,000 for the same period last year and $99,200,000 in 1934, Other lenders accounted for $31,500,000 this year.

Farmers’ Income Up

“Since 1933, farm real estate vale ues have increased steadily for the’ first time since the World War pe! riod,” Mr. Myers said. “At present, the index of prices received by farmers is nearly double the 1932 level, and the farmer's cash income last year was the highest since 1930.” Young farmers and tenants whose! progress toward farm ownership was delayed during the depressio especially are making requests Tov for loans from the land banks, M Myers said. “The shift in the mortgage ol loan has resulted “primarily from decline of 83 per cent in the volum of loans closed by the Federal in stitutions during the period Jan uary-May, 1936, as. compared wit the corresponding five months o 1934,” the quarterly reported. : “During the same two-year pe= riod there was a gradual increase: of 34 per cent in recordings by private lenders, as land values im« proved, The sharp decline in volume of loans by the Federal agencies since 1934 has resulted in a net decrease of 83 per cent in the total amount of farm mortgages recorded.”

SEEK APPROVAL OF RAILROAD PURCHASE

By United Press WASHINGTON, Sept. 18.—Tha Interstate Commerce Commission has been asked by the Atchison, Topeka & Santa Fe Railway to ap-« prove acquisition by it of the Fort Worth & Rio Grande Railway as authorized last July by the Federal Court in the eastern district of Mis«’ souri. Joining in the application were the St. Louis, San Prancisco é& Texas Railway, the Gulf, Colorado & Santa Fe Railroad and the St, Louis & San Francisco Railroad. *

EX- PRESIDENT TO SPEAK Timea Special WASHINGTON, Sept. 12—An ad~ dress on “Present Taxation as Bre fecting the Mining Ind uy Herbert €. Sioover 15 to feature the ua ining Convention and Exposition of the American Mining Congress to be held at Denver, Sept. 28 to Oct. 3, Julian D, Conover, secretary, announced today,

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