Indianapolis Times, Indianapolis, Marion County, 23 September 1936 — Page 19

Trends

——— Invisible Sales Tax Unjust, Flynn Declares. BY JOHN T. FLYNN N= YORK, Sept 23—We talk ® 5 Jt about taxes. That's a

$e thing We have to pay the Bs. We ought to know what we =e paving and who is doing the Peaing Ever since Gov. Landon lit into She Booisvelt sales taxes there has Been plenty of talk about sales SEmes and invisithie and indirect In the discussion I seem to iscern the impression that all sales taxes re indirect taxes and invisible taxes. But that is not true A direct tax is one which is 'ev- : fed directly on the person who finally pays it An indirect tax #= one Jevied on one person in such ® Tay hat he can pass it on U miher person. An invisible lax =nich i= levied in such a the person who actually is seldom aware of it. really, for She most part an invisible tax. It : ‘trnant But "he io the government. the landlord. The tn the governincludes it ‘in the far 8: the tenant is con3 an invisible tax.

dda

taxes

estate is

the

+7 sl mics Par = tax on theater ® reriain amount. But EB The theater

mu gre paving PoE he price —ii ket. $2; tax, 20 mts It is 21 direct and visibie Br sales lax. soy buy a pack of cigals pay a Federal tax. 1 know The tax is the smoker of = against the maknufacturer pays the it on the wholeThe wholesaler passes it on staiier and he passes it on mzumer by including it In of the cigarets. You are Set comscious when you pay 15 (gent: for 2 pack of cigarets that Par: of the price is a tax. - & sales tax, therefore, is direct Ens visible when it is levied : gmst the final consumer. But $t i= firect end visible then only when it is levied in such a way $581 the consumer is aware-that he 38 peying the tax

mstance : 1

AACE are not instance,

ckets

inyou over YOu RNOwW

11 itl

- smirT

= =

the sales tax is " Jevied against the retailer so Bhat ‘Be must pay. let us say 2 Per cent on his gross sales, he may gnmerely raise prices sufficiently to mower the tax but in such a way | Set ithe consumer is not aware She: the tax 1 included. However, She fax may be levied on the conSamer so that he is called upon to Per 2 per cent on his purchage, Wile the retailer must col3s: The 12x but without including 3% I» the price. In other words the ‘SR: might be Jevied as the tax on Shes er tickets is Jevied. Then it is wisitie. T=ere i= 3 powerful argument to Be mace scainst sales taxes. But ghere i= =n even mere powerful Engument to be made against inWane sales taxes - First, the tax- _ PEyer doesnt Ehgw what he 1s pay“Sng. Second. i= made the vic2s of =n Er under our tax Sw: When vou pay your income SEE Io the Pegerzl government, you. mas first determine what your taxhs mmoome is. In doing this you ‘are allowed to deduct all the taxes ou Pay tn the state or Federal mt. You can deduct your Theater taxes and vour gasoline ‘REw=s because you pay them. But ®om can Dot deduct your cigaret ‘Ssse: You do not pay them direct. Whey are paid by the manufacCtarer He deducts; them from his in3 though you pay the

| 1838. by NEA Servi

Frits and Vegetables

#ountstines below. subject to change. are meeape Wholesale prices being offered to Severs by jocal commission dealers.) FRIITS—Pears Michigan Bartletts, _an ‘Bansnas—Selecied, 1 Ib. 5c = Maiden Blush 2'3 inches $198 = 1 Wealthy 2% inches up, Sr Nn I Ya Jonathans. 2% inches up, $5 Iemons—Sunkist 380s. $6.50. Limes: —BSexickT. CRITOT. 12% 20 Patan SeaqBess 308 $33. Peaches— rtas - gg’ : $2375 Plums—Italian “prunes. _Gr spes—Michigan Concords,

ite, Inc.)

Cantaiot apes Home-grown, oney Dews, vine ripened, 2D Watermelons—Home

Mam-

80c. rx Hmong n

Broce grown. 802. 25 30c Kale—Home- = Wl. $x uce—Iceberg. Caliaon &=-2z $7.50 jes?

home-grown, 153: Peppers Mangoes, womebaskei. 40c: doz... 20c. 3 3 > Home- grown. ‘esier Tel. hamp Eastern Cobblers, Sweet Polatoes bu £1.50, Saez basket - Torm Bua. 32. T mratoes—Bome-gTOWL nl

Other Livestock © By Urnned Press) ‘TEICATD Ser Hogs recis. mostly steady scinging 2080 drect heave butchers top. $10.30 well 5610:

=a v $7 best

ashes 23 “Serre Secesiis $0 900 calves, 1500: fed === =n Flings steaqgy. micaie and |

gas: weighty kinds, slow; better8 3

earings. fairiy active. killing | ged for Wednesday than recent est yea . $18.35, but load un- : helt sround § es fn heifers, steaheqfers weak =n

Fram to 2 TEiv steady. not much change

er. | Supervised Sh

—~—Receipts v}

fin- |

Abreast of The Times on Finance

PAGE 18

PLANS STARTED FOR NEW STEEL

PLANT AT GARY

Possibilities of Immediate

Construction Denied hy Company.

! Tivken Special GARY, Sept. | conditions vastly improved, National Steel Corp, is forwarding

preliminary plans for development |

of a 1200-acre tract east of here as

a. new producing area. Acquisition |

of this area was made in the name {of the Mid-West Steel Co., subsidiary of National Steel Corp. While rumors that construction of ‘a steel producing plant, which

also would embrace finishing units |

of all classifications, is to be started immediately were denied by those in authority, it was learned that the “| project still is-a “live one and that its development can be expected at a later period.; Suggesting may

“that construction

s than are barely mand which is on a rising scale and |

turn of a fully normal business sit- ! uation,

Would Share Business Ultimately, the proposed Mid-West | plant likely would stand as a contender for a share of businéss that | naturally accrues to the Chicago | steel district, now dominated by Carnegie-Illinois, Inland, Republic, { Wisconsin and Youngstown Sheet ‘and Tube, as well as a number of |¢ | nonintegrated steel companies]; | such as Acme, which manufactures | steel products, but has no ingot ca- | pacity of its own. |. “The gibt held in the name of

| the Mid-West Steel Co., has a lake | frontage and stradles Burns Ditch {in the Dunes Park area of North- | jern Indiana. The lake frontage | offers opportunity for harbor de- | velopment which would be re- { quired In ore | possible shipment of finished mate- | rials.

i Skelley

{| Tidewater

Money and Exchange : INDIANAPOLIS STATEMENT | Clearings 2,385,000 | ! Debits 6,326,000 | i —— TREASURY STATEMENT (By United Press) WASHINGTON, Sept. 23.—Government expenses and receipts for the current | | fiscal year to Sept. 21, as compared wiht | Vear ago: This Year Last Year $ 1510.463.317.46 $1,708,531.524. 1,061.566,341.21 042,209.813.63 | 448,901 976.25 766.321.711.098 2.260,579,260.30 = 1,8%5,308.698.37 33,809,984.666.48 29,42%6,743.445.28 10,785,231,305.48 * 9,248.028.987.63 | 89,999,159.79 87,458,034.06 |

Unlisted Stocks

{By Blythe & Co.) NEW YORK STOCKS

Expenses Receipts. . Deficit Cash Bal Pub. Debt. Gold Res. Customs. .

Bankers Trugt [ Central Hanover Chase Chemical W3 { Continental Shicage ed | Guaranty : | Irving iis Manufacturess National City .....3 . { First National Boston. .— ! National Shawmut FIRE INSURANCE

jAetna Fire Insurance <- 5 { American Ins of New York “re | Baltimore American ae { City of New York... | Franklin Fire {| Federal Insurance .. Gos { Great American Insurance ee | Hanover Fire : Hartford | Home Insurance {| *National Insurance ! Natignal Liberty | North River . | *Pho pedi {USF

tt OO =] C3 EO 00 4 00 DUB De AW A RRR 0

w nN

100 BI a 5 CO L300 BI Wb LI BD vs bt OY oo

o oo w

23. —With economic | the i

not be far off is the current | showing that mill operations at less |, 75 per cent over the country | ample for existing de- |& Ri

| Mid Cont Pet

{not far from a volume that could | 5his oil

be pointed to as eviderice of the re- | pet, { illips . { Plymouth oil. 1 Pure . “es Seaboard oil “ve

-| Warren Bros

{ Auburn

transportation and | Rat

| Elec Auto Lite ..

{ Houdaille

ng | Alaska

| Cal & | Cerro De

| et hater Fire | *Ex-dividend.

Investment Trusts

{By Thomas D. Sheerin & Co.)

Asked. | Administered und 2d $19.66 | Affiliated Fund Inc seen American Business Shares *Broad Street Investing Bullock Fund Ltd Century Shares Trust a Corp "AA" “Accul’ (mod) Corp “AA” “Acc” funmod} Corporate Trust 8hs (orig *Diversified Trust Shares B'. Diversified Trust Shares ‘'C'.. Diversified Trust Shares ‘D’.. Dividend Shares Inc. General Investors Trust Incorporated Investors Investors Fund Amer Market St jovest Corp Maryland Fun “ri Massachusetts S vest ors Mutual Investment Fund *Nation-Wide Voting North American Tr Shs 1955. North American Tr Shs 1838 North American Tr Shs (orig) Quarterly Income Shares ... Selected Amer Shares Inc Selected Amer Shares (orig). | Selected Cumulative Shares. . . | Selected Income Shares 3 | State St Investment Corp . ! { es Inc (Dela) 14.58

wav. 7m 8 1

30 | 2.19

B31

10.15 5.

| Trustee Am FX | Trustee Stand Ri tiares : {| Trustes Stand Oilshares “B”. ! United Standard Oilfunds ... *Ex-dividend.

Produce M ra

| {The prices quoted are paid for stock | | gathered in the country. while delivered |

in Indianapolis the price is a cent higher.) { Un Gas Imp .

s. and over, Le, horn breed | 12 Ibs. and 1 ibs, and over, and up. sizes,

breed pans. 5 12¢; coor iar: Leghorn springers, Roosters, 4 Ibs. white. 5 Ibs. feathered, all all guineas 1: Ibs. and up. 15c: cocks. 8¢: No. 1 strictly fresh eggs. ff 23c. Each full case must weig gross. a deduction of 10 cents a under 55 Ibs. will be made. No { 383G3%. No. 2. 35@36e¢. utterfat,

Heavy 15¢; under hens, 10c. over, ldc: and over, 12¢ 14c; old ducks 3 geese, full

33c.

i (By United Riess)

| CHICAGO, Sept. -== s Market

|L Lou

1136 |}

| Union

¢ Am Car & Fdy

32 | Am Steel Fdy ... 12 {Bald Loco .. : 18 {Gen Am Tnk Car

3 Westingh Elec”

«o-J& T &'T . .. Am Wat Wks i Col

{ Elec Pwr Int T & : 94

loss |

1 Butter. i fas oS

WEDNESDAY, SEPTEMBER 23, 1936

AVERAGE , PRICES OF, US. GOVERNMENT BONDS

MONTHLY AVERAGES OF DAILY FIGURES

SOyRCE TEENA, 4 REILAVE BOARD WMOLUDES OM) ISSUES OU OR CALLABLE AFTER 8 TEARS

YEARLY STATISTICS sans SHOW RANGES FROM Mion £51 10 LOWES! MONTMLY AVER {aGLs

MONTHLY pranisTics

110;

SEPT. 19, 18

sili uli wala 932

- Hb wl

sila} La 1234

Br Jo © SOM B Cwisno JouRmAL OF COMMERCE SYNOWATE

ala:

1935

lant daglas)

ose

New York Stock Exchange Prices

& McKinnon) Noon i. YX. 283% 18 133% 335s

231 127

{By Thomson Prev, Close. 283g 177s 1312

Pet _ Corp

Pet Oil Shell Un oil Soc Vac |. S O of cal S O of Ind .

iSOof NJ.

Texas Corp--.... Assn. Un Oil of Cal.. ol Acme Ste Am Roll Beth Steel Byers A Cruc Steel udlum Steel ... Mid Steel Natl Steel Otis Steel i Rep Iron & Steel 243s Rep Ir & St pf.114'2 U S Pipe & Fdy. 523% US Steel 723 : 87a y 30

Warren P & : z 803%

Youngstn 8 & Motors— _

Chrysler Gen Motors. ... Graham Mot.

Hudson .. eee | Truck.

Mack

Poe AIG TNT DER RT R

Studebaker .... Yellow Truck... Mofor Access— | Bendix

(CTR ar un OB UEI JOND OPW -

o Nol

Bore Ww arner.

4 643 1d 1s 100 1 0) >»

DPR-IDWROWD

Grevhound *“B”

Murray Body

{ &tew Warner....

Timken Roll ... Timken Det Axle Mining— Jun ...

Amer Metals

i Amer Smelt

Anaconaa He Pasco { ODome Mines.. Gt Nor Qre.... Howe Scund Ins Copper Int N

©.

McIntyre Mine.. Phelps Dodge ... 3 St Joe Lead .... U 8 8melters ... Vanadium Amusemenis— Crosley Radio .. 3 Loews Inc 59 Radio’ Corp Paramount RK

COLI iB i OD VED 1 Ut CO 4 00 14 DBI + 00 ws pat

oD BNN DEG -EDD DD

Warner Bros ... Tobaccos—

Am Sum Tob .. Am Tobacco ?

ag { Am Tobacco ee 10033 | Ligg-Myers ‘B’

Lorillard Reynolds Rails— Atchison Atl Coast B & O Can Pacific Ch & Ohio Chi 2 Gt W pfd iis Chi NW o Dela & ves Del Lac & W

i Lehigh Valley .. 1 _& Nash... § M & x 8! | M K, & T ‘pid. . Mo Pac

0 4 EBD CO = BI 0D hs LI a BD

WOMB 0000 WWD BI gr

[&]

rt LOB 0 oe “ Dh@ aN RN ARR

Cent | Norfolk Z | Nor Pacific

Pac ! Equipments— Am Brake Shoe

a. sR LD RE oe

Am Loco

Lyn 02 1 NOD CI LJ TU pt bes Paar ba OC)

RANE a

{Gen E Gen R R ‘Sig. . Pullman Inc i | West Air Br

Os On

G3 pe

on be OD ob On Onin BI Ha 0 ~1 N00 CICA dm O°

45 .143

Utilities—

{Am & For Pwr. {Am Pwr & ‘Lit

“ta »

1.4

«i 25 Gas & Elec 2 Comm & Sou... Consol Gas &

rates

Lit. lou G & E * i Nat Pwr & North Amer ... Pac G & E cen Pub Serv NJ So Cal Edison. Std Gas Stone & Webster United Corp

up +

C0 bn LO 60 bot BD bt hk fn Bk BD mt 00 b= 4 =] 8 4.00 DJ 4a 13 003 SO en UI BS €0 1m 60 0 54 BD bob pk yf Jot BD =] 4 Q 300 00 +4 TT ad 8 += 00 BI un DI CLIO wn CO EI DD

ee C0 bn 00 C0 bet BI bt CO Win CN 1D 00 +4 CI JBI +400 BD

hk lhe Chk of Cok

Ee moe ee®®

{Ut Pwr & Lt A’ Western Union..

Rubbers— | Go estone

25%

~1catotaed wl bg Ws BI WD

33 U 8 Rubber pid. 783% Miscellaneous— Chalmers £1 Am Mach & Pdy 22% Anchor Cap .... 20 {| Brklyn Man Tr. 58% Burroughs Add. —

[Rem Rand...... | Underwood E Worthington P..

Fooyds—

Amer Sugar.... Armour

LOM Ow ~-

DNWOE OND =NWOD UI] @.g < Te

™ aN

ye oo

P Wheat. . Cuban Am Sugar Gen Baking . Gen Foods Gold Dust G L Hershey Natl Biscuit Natl D Prod. Purity Bak 17 S Porto Rico Sug : Std Brands .. 1 Un Biscuit United Fruit Ward Bak “'B Wrigley

BOSD CNC et bh bd C3 abt et A DS

ND CO IDO “

Retail Stores— Allied Stores ... Ased Dry Goods First Natl Stores Gimbel Bros

BO BO 4 5 Ba RNDHUOOO —I~Tagrd nL Le > Eo

CN bd ht pk

Marshall Mont Wa Natl Tea Penney J C Safeway St Sears Roebuck.. Woolworth Aviation— Aviation Corp... Boeing Aicraft.. Curtiss Wright. . C Wright “A”... Douglas Air Nor Am Ay .... Sperry Corp .... United Air New.

Chemicals

Air Reduction... Am Com Alco... Col Carbon. .... Com Solvents... Du Pont Freeport Math Alkali ... Monsanto Chem Natl Dis new Schenley Dist. . Tex Gulf Sulph. Jnion Carbide . U S Indus Alco

Drugs--Coty Eoin Sterling Prod a Un-Drug (new)..

Ww ww

. | Zonite Prod

Financial—

Adams Exp Allegheny Corp.. Am Int Corp.... Chesa Corp Transamerica . TreContl Corp .. Building— Am Radiator Int Cement “iv Johns Manville Libby Owens Gls 672 Otis Elev >

—

ON Wo ~Ir nt

red Ov Nn

Cpt OMNI

8 1-1 0

CRI BIH BBD OO =~I=I=JrW ee

27;

“yo2us

+.!| Household—

ODIO

tl bet G0 a «

SND pA

Local Securities

(By Indianapolis Bond and Share Corp.)

The following quotations do not Lepresent: actual bids or offerings but merely

indicate the approximate

recent transactions.

BONDS Citz Ind Tel (T H) 4's ’61 H Tel & Tel Ft W 52s "43. H Tel & Tel Ft W 8s '43 Indpls Railway Inc 5s '67 Interstate Mel & Tel 5'2s '53. Kokomo Water Works 5s 58. Morris &,10 Stores 5s '30

market

.-10215 -104 «+1031; . 67%

Muncie Water Works 5s '65

Noblesville H L. & P 6las ‘47. Ohio Tel Serv 6s '47 Richmond W W 5s ‘57 Seymour Water So 5s '49 H Trac & L 144

T H Water Works 5s "49...

Trac Terminal Co 5s '57 Indpls Water Co 3'2s ’66

ABC Brewing Co.

level

| based on buying and selling inquiries or

104%; 105 106 6915 101%; 105 1021,

! 10312 1103

0 102 ..103

Belt Railroads & Stk Yas com 57 7. Belt Railroad & Stk Yas, pf PH 56 5 25

Central Ind Power,

pid Home Tel and pel,

| *Hook Drugs, In oo 18 & Mich Elec Co pid’ 1s..

*Ind *Ind Gen Serv Co 6 Ind Hydro. Elec Co 5 Indpis Gas Co

6s ve 2B *Indpls Pwr & i 5; nfd 6s. 33

“Indpls Pwr & fd 6lzs. *Indpls Water at pid 5s Nor Ind Pub Serv pfd 5lzs . { Northern Ind Pub Serv pfd | Northern ‘Ind Pub Serv pfd | Progress Laundrv Co

{ Pub Serv Co of Ind pid 8s ers

Pub Serv Co of Ind

= 102%

55 82 Ts Si%

. 63 Southern Ind Gas & 5 pid 8s 103 88

Terre Haute Elec Co Union Title Co *Ex-Dividend.

Congoleum Kelvinator Mohawk Carpet.. Proc & Gam le. Servel Inc ..... Simmons Bed ... Textiles— Amer Woolen ... Belding Hem Celanese Corp ..

Gotham Hose Indus Rayon

(By Atkins,

J D Adams

Butler Brothers Cities Service

Continental Steel ord

Godchaux Sugar

Jarvis Mfg Katz Drug

Lincoln Printing

McCraw Electric

(By Atkins,

Am Cy anamid Am SUDerEows:

Atlas Corp Catlin Cor

Carrier Corp Creole Petroleum Crocker-Wheeler Elec Bond & Fisk Rubber

‘Glen Alden Gulf Oil Corp of

Hygrade Food Irving Air Chute Lake Shore Lines

Molybdenum Corp. Mueller Brass

Pennroad Corp St Regis Paper Co.

Segal Lock Sunray Spencer Stores

Technicolor, Inc

Arkansas Gas 4s

B & O 4%s '3

Cal Oregon Power Central Maine 4s Central Ill 314s C & OE 3s ®

Chicago West In

Conn River Pr Cudahy Pkg 332

348

{Edison Illum Bost

Kansas P L 4% Los Angeles G ® Louisville & E u h G & Metro Ed 4s ’65

Narragansett

New York Edison Okla Natural Gas

Pacific Lighting 4 Peoples G & it Penn R R 33;

Pub Serv N H Railway Lite 4'3s Sagueney Power

Southern Kraft 4 Union Pacific 33 Wisconsin Gas &

Allied Stores 5%zs

“Cudahy Pkg 45 ’50.

Collins Aikman.. § : 35%

1 Chicago Stocks

Hamill & Gates)

Prev.

Advance Aluminum Allied Products ....

Commonwealth ‘Edison Consolidated Biscuit

General ‘Household

‘A’

Great Lakes Dredge .

Lion Oil Refining .....

New York Curb

Hamill & Gates)

1P. M.

Aluminum Co of America

Ark Natural Gas

'p Canadian Indust Alcohol “A.

Corp

Ford Motors Canada. - (1)

Penn.

Humble Oil & Refining Co. International Vitamin .

Imperial Oil of Canada.

Long Island Lighting

of Amer...

Natl Bellas Hess Inc..... Niagara Hudson Pwr . Pan-American Airways

Salt Creek Producers Assn...

Sterchi Brothers Stores. . 4 ] Tubize Chatillon Corp ........ i

New Bond Issues

(By Lyons & Co.)

'51

Associated Tele hone 4s 65... Beth Steel 2%s '68 .

4s 66

412 . 10344

Chicago Un Station Tis 38! 1097 7a

Consolidated on Tps

on 3%s '65..

Gen Motors Ac Corp 3s '46 .. Gen Motors Ac Corp Indianapolis Water 3'2s Iowa South Vislitiess 5zs '50..

'S5L.. '66..

3128

. 3's wx BE 435 "10....

A Minn Gas & E Dr 4s '50. Elec 313s N Y Chi St Louis 45.46

4s '66 412s '31....

Okla Natural Gas 5s

15s 45 as 4s 61, .

Penn Tel 4s 85 | 3X Potomac El Power 3s '66. 334s ’66

412s

San Diego G & L 48 '65...... Southern Cal Gas 4s '65

Yas ss 0 E 3!

Wisconsin Pub Serv 4s 81

SWINE EVEN TO 10 CENTS UP ON LOCAL MARKET

Cattle Generally Steady; Lamb Prices Off Sharply.

With hog receipts down to 4000 head at the Indianapolis Union Stockyards this merning, prices held generaily steady to 10 cents higher. The market advanced 25 cents on weights above 235 pounds, and .sows were firm to slightly higher. Yearling steers and heifers were steady, although the undertone was weak to lower on steers weighing above 1100 pounds. Cows were 25 cents lower, and vealers sold generally 50 cents higher. Lambs were off 25 to 50 cents. Top for hogs today was $10.35, paid for weights between 200 and 280 pounds, where the price ranged from $10.05 to $10.35. The two hun dred eighty to 300-pound hogs ranged from $9.75 to $10.15, and weights above 300 pounds sold from 925 to $0.95, Lighter weights ranged dOWHY ard from $10.15 to $8. Packing sows brought $8.50 to $9.50, with a few selling for $9.60.

Top Steers Reach $10

Cattle receipts were 1500 head, with 700 calves on the market. A few top steers sold above $10, others $9.90, and the top for heifers was $9." With cows off 25 cents, prices ranged from $4 to $4.75, with cutter grades selling from $3 to $3.75. The bulk better .grade vealers moved from $10 to $10.50. Better grade ewes and wether lambs brought $8.50 to $9.25, 25 to 50 cents lower than yesterday. Fat ewes ranged from $2.25 to $2.75, with a top price of $3. Sheep receipts were 2000.

Light Lights— (140-160) ond and

Me Lightweights— 1160-180) Good and

(180-200)

Mediums Weights— (220-220) Good and (220-250) Good and Heavyweights— (250-290) Good and (290-350) Good and Packing Sows— 1275-350) Good . (350-425) Good .... (425-450) Good ssivurnes (275-450) Medium .... Slaughter Pigs— (100-140) {iooy and choice..

choice. .$

choice. .

Travan

NO ow

choice. choice.

w oo

choice... choice.

tt pb pet ft

oo = on OO OF 9999 99 AD AAD 09 po omow 605 95 99 OD wn

oa: SuSD

8. 8. 9. 8. 9. 9. 10. 10. 9. 9. 9. 8. 8. 7 8.

= 20 “ama 09 Dunas -o 0no

—Receipts, 1500— (550-900) Choice ens Good

—

ODOROONPVORNVD ILI D UN “IDI is mT BIBI 1a caro wonanronar hr an

Common «.vvevvess

(900-1100) Choice ........ G ae

—

Common (1100-1300) Choice .

PBODRONBBONDOD OID UWI DI ~IBI BS SHPNODOUT AR DU ANID

M (1300-1500) . G

Heifers (550-750)

nono 5 CODD oo oOwm

00! Common, "medium. Good and choice . Common, medium. a Cows GOO... iii Common and medium ........ Low cutter and cutter .. Bulls, good Cutter, com. and med. bulk.. Vealers —Receipts, 700—.. Good and choice

(750-800)

ore Swoaa SOoDmen 290 O99 Bed tn Noam

. fF Medi dium

Cull and common | Calves [250-500) good and choice..$ 3: Common, medium Feeder and Stocker Tattle (500-800) goog and choice. , m. and medium. (800-1050) Good and choice. .

Common and medium SHEEP AND LAMBS ~~ =—Receipts, 2000— Lambs— Choice ...... 00 ses wens Medium ... Common ... WeS— (90-170) Good and choice.. Com. and medium

{Sheep and lamb aistations on clipped

CHICAGO GRAIN ont (By James E. Bennett & Co.)

Prev. Wheat— High

Sept. ors R17 Dec. 1.

“Fletcher Avenue” Offers

To Borrowers

$1,000,000 in loan funds for the Purchase or Building of HOMES . « . ample money available on the long term, easy monthly Building & Loan payment plan,

,Interntl Tel

preceding eek.

Commodity Index Risec ‘A slight rise in wholesale commodity prices for the week ended Sept. 19 pushed the index to 80.5 per cent of the 1926-28 average, a new high point for the recovery period. The index was 80.4 per cent the

N. Y. Bonds

(Reprinted From Late Times Yesteraay)

DAILY BOND INDEX (1926 Average Equals 100)

Today Yesterday

hig Copy TERE

S. GOVERNMENT BONDS Abbott, Proctor & Paine.)

U. (By

Close sesanseaenvessens1idD

1042-47. 000vnvriinnin «104.9

DOMESTIC | '

Alleg Alleg Corp bs Am Fign Pow Am Tei & Tel 5!s5 '43 Am 'I'el & Tel 35s '65 Arm & Co (Del) : Atl Coast Line 4s °’ Atl Coast Line 4!zs ' Atch Top & S Fe 4!2s5 ’ een Am Rolling Mills 4'3s "45 ....118 Balt & Onio 5s 2000

Corp 5s ' "49

B Beth Steel 44s Chi Milw & S Chi Wilw & St P 5s 2000 Cleve Un Term 4lzs '77 Col Gas 5s" May ’52 Cal Gas 5s April '52 .. Col Gas 55 ’61 ......... suse 108% Can Pac Perp 4s . Cent Pac 5s '60

Colorado & Chi & West Ind is '52 Chi & Nor West 433s '49 .... Con Gas 4's ’'51Chesa Corp 5s Del & Huds N Y Dock 4s '51 N Y Dock 5s ' Erie 5s '75

Grt Northern Grt Northern Grt Northern 4!2s5. '77.. Vas Gen Stl Cast WW 558 '49 ... 8 Hud & Manhat Ref 5s '57 .. Ill Cent 433s ’'66 8 Ill Cent Jt 4l2s "63. TI Cent 5s ’63.. Interboro Rapid Trans 5s ‘66. Interntl Hy Elec 6s '44 & Tel Interntl Tel & Interntl Tel & Lehigh Valley 4: Mo Kan Tex Adj 5s Natl Dairy 3%s '51 Natl Steel 4s '65 Nickel Plate 4'zs

NY N N Y Cent Conv 6 Nor Amer Co 3

“Gn 4s? SH” 48 4

Nor States Pow 5s '41 New Orleans Term. 4s '55...... 90% Otis Steel 6s '41 102

s’42 ... ivy Portland. Gen El 4155 '60.... Para Publix 6s 55 Penn. P & L 4'2s ’81 Postal Tel & Cab 5s '53 Rem Rand WW 4s '56 Shell Union Oil 3'2s '51 Socony Vac 3'2s '50

Sou Pac 4's Sou Pac 4s’ Sou Rail 4s’ Sou Rail 6s ' Sou Rail 65s ’ . . Texas Pac 5s '80 . Texas Pac 5s 9 .. Texas Pac 5s 77 . Third Ave aaj 55 '60 . Union Pac 4s '47 United Drug 5s ’53 U S Rubber 5s '47 . NW NH & Hart 6s ’48 NY NH & Hart 4l2s '67 Warner Bros 6s '39 Western Marv 5'%s '77 Western Union 5s '40 Youngstown S & T 4s "61 .... Youngstown S & T 3!2s '51.. FOREIGN Argentina A Australia 4!zs 56 Brazil 8s '41 ; Canadian Govt 45 60 Denmark 455 '55 German 5's’ German Ts '49 Italy ‘7s °51:.... Japan 6l%s '54 . Poland 7s ’47 ... ome Blas ’52 . okyo City 512s 61

LOCAL CASH MARKET

City grain elevators are paying Other grades ‘on thelr merits. Cash corn,

$1.09 for No. 1 red wheat.

new No. 3 yellow, $1.01; oats, Hay—No. 1 timothy, $14.50@15; 1 clover, $14@15; No. first cutting, [email protected]; second ting, $16.50@ 17.50.

29-WEEK RECORD BROKEN 23. — Twenty-

CHICAGO, Sept. nine weeks of steady rising broken in retail linage act when’ the - Advertising Age recorded a slight loss of 1.8 cent during the latest week.

h. 1936, by Standard Statistics)

1 alfalfa,

index

Prev. Close 1148 108.9 117.12 108.3 109.12 108.24 108.15 107.3

101 31 103.18

105.3 103.26 104.11

Prev. Close. | 89

EUROPEHITBY U.S. LOAN BAN: MAY PAY DEBTS

Institute Reports British Favor Immediate. Liquidation.

Times Special od NEW YORK, Sept. 23.—Recent European reports indicate the desire of some governments to reopen the war debt question, according to ths Alexander Hamilton Institute. With exception of Finland, nons of the debtor countries at present is making payments to the United: States. As a retaliatory measure, Congress passed the Johnson Act prohibiting American loans to foreign government in default on its - war debt. This recently has proved: inconvenient to a number of the debtor nations. When the French government, for example, according to the. institute,

| wished to secure a foreign loan of

36¢C. No.

cut-

was ivity

three billion trancs, American banks were not permitted to participate. Similarly, when Italy endeavored to obtain money from abroad, the American market was closed. Great Britain, the institute says, likely will be interested in obtaining funds in this country, since it engaged in a huge rearmament fe gram. While the British can see cure necessary funds at home, they say it will be wiser to obtain at least part of the funds in the United States, purchasing part of the equip= ment here to prevent over-expan= sion of her heavy industries.

British Favor Payment Public opinion in England today,

1 the institute reports, favors immediate payment of the United States debt.

They also believe that, fin view of the current financial position of the United States government, Congress will be -willing to acoept a smaller sum than formerly would have been considered. The suggestion has been made that the British currency be devalued legally and the profit derived by the Treasury from devaluation be turned over to the United States in the form of gold. It is believed that about $700,000,000 can be raised this way, and many British officials feel the United States will accept this amount in full paye ment of the debt, according to ine formation received by the institute,

Building Permits

nme Hanson, 318 N. Rurai-st, alterse ons =. Beckridge, 5250 Park-av,

Ralph. Alexander, additions, $500 Jerman Otto,

alterations, 3413 W, Washington, 526 Cottage-av, Mayme Slansen, 1655 Union-st; garage,

Elba Boaz, 1334 Wade-st, garage, $150, s23; I. Soncrant, 1129 W. 30th-st, Stoker, 58

Orah 2 o Fiiyett, 2037 N. Alabama-st 834 Bosart-av,

roofing,

| stoker, $42

Se Ww. Backwell, stoker, Bertha Bretzman, 1221 N. Pennsylvaniae st, stoker. $450. sis: 8. Ridgway, 605 Sanders-st, stoker, Preshyterian Sraueh, 10th and Wale lace-st, stoker, $41 Marvel i Co.. Barth & Sane ders-sts, alterations, $2000. E. Dickerson, S18 N Arlington-av, garage. £200; eg sins Liquors, 5533 E. Washington-st, Miller Wohl, 45 E. Washington-st, sign, x and L. Edwards, 2575 Baltimore-st, dwelling, $2000 Linton Cox, 3231 N. Meridian- st, stoker, gs2oY Truex,. 1416 Montcalm-st, garage, Laura and Emma- King, 638 Prospect-st, garage, $155. 5: M. Shane, 553 Marion-av, dddition, M. R. Koenen, 1436 Woodlawn-av, Fae rage, $175 William E. Mack ‘Co, Inc. 31 5 Penn. sylvania, repairs, $3000; tank, >: Bauer, 1546 Ringgold-st, SS fations, spores Staggs, 2423 Olney-st, alterations, William Turttebaugh, 1148 “Knox-st, garage, $175.

Garden of Italy, 36 8. Illinois-st, elevator repairs, $50. E. Glatt, 5125, Maple-rd, oil burner, Joseph E. Kernel, 5270 E. Washington= st. oil burner, $295. L. Dugan, 5608 N. Delaware- at, oil burner, - $430. | rs. Henry Sickle, 304 W. 43d-st, oil 5914 N. New Jersey-s oil burner, 5. . y Sta - Lawrence Eaton, 5710 N. Delaware-gt, electrical, $100. !

par

thur J. Keutsch, 56th and Tiinofs - st, electrical, $150, :

23. g rows. Saw wee 3 jsast on cutters selling at | steady. Receipts, 4827 cases. Fresh grad- |J I Case m—-y stockers and feeders 25c | od firsts, 23!c; extra firsts, 26%c; dir- | Contl Can 7 fully | tyes, 21g: curfent receipts, 23':c; checks, | Caterpillar Tract 7833 i: 1 19¢. { Crown Cork . B4 Butter — Market unsettled. Receipt: | Curtis Pub . 30% 9581. ‘Extra firsts (90-81%: score:, @ | Deere & Co -. 32c: extra 92 score). 32}z:e; firsts, 30a | Eastman Kodak 17 8 31l.c; specials, 33@33%zc: standards, 32c { Poster Wheeler... 353 Poultry—Market steady. Receipts, 83 | Gillette 141 trucks, cars. Geese, 12%2@14c; ducks, | Glidden 11@18c; spring chickens, 14@18c: hens, | Inter Harv 11619¢c: turkeys, 18€19¢c: broilers, 14@ | Natl Cash Reg.. 16c; leghorn hens, 11@14c; old roosters, | 136 14c. 184 181:

Owens Bottle... Cheese—Twins. daisies, @ 183,c: longhorns. 18'2@18%¢c.

Potatoes—Supplies liberal: demand slow: | [w L LYONS & Co a u 5

market weak. Idaho Russet Burbanks. $2 Grain, Cotton, Com-

i @225; No. 2. $1.75%1.80: Washington Rus- { set Burbanks, $2.75: United States No. 2, | modities, Stocks, Bonds MEMBERS

$1.78; Oregon Russet Burbanks $1.75; | Colorado Red McClures, [email protected]: Colorado | Brown Beauties, $2§2.03; New Jersey and | Pennsylvania Cobblers. $2183 25: Wis- | New York Stock Exchange ; New York Curb Chicago Board of Trade Chicago Stock Exchange

.consin Cobblars. $160@1 ‘Unclassified, | Mi 40 N. Penn. St.—LI. 8315

narrow: bulls

$5 75. weihty fed i these scaling over 1400 |

10.000. Jachaing 3500 i ‘steady to wer comR Tueséar's ere ine range jambs at wit am ond that price; early a 13 ge feeding lambs, weak. {By Times Speciall Sept 23 per ie—Recelnts. and m sire cening o heifers, weak to 25¢c! he week's decline: De largaly | Eng to sell ownward : w 10 weak: ils, igh ers eers

$5.50 puicher cows, $4@G35. Cas $2 15H 278. most bulls,

me ts. 400. wvalers. 50¢ higher: sesh. bulk. ter grades, $8.50 Bessy calves sc : rei: Pr yr sales hogs. 5c 85: for best 200-250 Ibs. is? | 800: fat lambs slow: . 3s oir: off: indications h'k better grades, $3.75@9; . guotabee, 89.25, throw- | calves,

To Savers . . .

SAFETY of a $1,000,000 Surplus.

CLASS “A” Rating by State Financial Dept. EARNINGS from Date of Investment.

4% Fletcher Ave. Saving & Loan Assn.

10 E. MARKET ST. In the Heart of the Business District

ea bulls. : W Rereine

Travel by INTERURBAN A

Avoid traffic hazards and deurs by traveling on the interen. You'll be safe . .. and you'll save, too, at 1% cents a mile, round trip.

INDIANA RAILROAD SYSTEM #

A374

per annum DI VIDENDS were paid by This ASSOCIATION June 30, 1936

"$1: Wisconsin Bliss a $1.60; in- | nesota Cobblers, $1.6041.75

CNS INTERUR hi