Indianapolis Times, Indianapolis, Marion County, 26 September 1936 — Page 11

rena

New Deal Conceived

~ SATURDAY, SEPTEMBER 26, 1936

PAGE 11

gain of $93,889,096.

During the first siz othe of 1936, nearly 50 lead ing life insurance companies increased their urban mortgage investments 153 per cent, buying $154,856,~ 390 as against $60,976,294 in the same 1985 period, a

by Conservatives, Flynn Says.

EW YORK, Sept. 26.—A state- ; ment has been issued by one of the political committees which reveals a determination of one of the great parties to give this campaign an economic meaning of a very sinister character. There is, of course, no-doubt that grave eco-

nomic issues confront the nation. How far the two great parties differ upon the essentials of those purely economic issues is difficult to say. But one ‘of the parties seems delermined to prove that the other is slyly attempting to push this country slowly in ; 9% the arms of the Communists. Me FIyRR Of course, if this is so Americans ought to know it. It is a serious charge. But if it is not so it can only serve to confuse the public mind. The charge I refer to is based ori statements supposed to have been made by Mr. George Peek, who was administrator of the AAA in the early days, but who is now opposing the President. The charge is that certain supporters of the President, in the early portion of his administration, were talking ~ about means of pushing the country into a social revolution; they actually were discussing how much blood would be shed; planning to drive everybody onto the relief lists and then make the capitalist system commit suicide. Mr. Tugwell, Felix Prankfurter and Jerome Frank were named as plotters. They were the President’s closest advisers: he must have known what they were doing.

OUNTLESS times it has been |

stated that Tugwell, Frankfurter and Jerome Frank are Communists. That is % matter of fact and, as a matter of fact, it simply is not true that these men are Communists. They are not

evem Socialists of a mild variety. It also is not true that they were the President’s closest supporters. I doubt if Jerome Frank ever got to see the President. And during a large part of that early period Felix Frankfurter was in London delivering a course of lectures at Oxford. Against these three men, one holding a minor appointment, another holding none and seldom seeing the President then, and the third an under-secretary of Agriculture, place the names of all his major appointments and all the men were his closest advisers. There was Mr. Hull, Secretary of States, an old-fashioned Democrat! Mr. Swanson, Navy, of the Glass school; Mr. Dern, Army, a very tame progressive Democrat; Jim Farley, a devout Roman Catholic; Mr. Cummings, attorney general, a conservative Connecticut Democrat and corporation lawyer; and Mr. Wallace, a Republican up to the time of Mr. Roosevelt's election.

” ” ” HE Treasury Secretary was William Woodin, big business executive and Morgan associate. His undersecretary was Dean Acheson, corporation lawyer. Assistant Secretary of the Treasury was Tom K. Smith, just elected president of the American Bankers’ Association. Eugene Black was governor of the Federal Reserve Board, an old-fashioned Southern banker; Jesse Jones was head of the RFC. General Johnson, certainly not a

red, dominated the NRA, and he was later followed by S. Clay Williams, head of the Reynolds Tobacco Co. George Peek himself was the dictator of the AAA. And when he and Jerome Frank clashed, Frank was forced out of his job as counsel and later out of the Agricultural Department altogether. As adviser of the Treasury, Mr. Roosevelt selected Earle Bailie, head of the Wall Street banking firm of Seligman & Co. and as head of the SEC, Joseph P. Kennedy, a well-known Wall Street operator. ‘These were the President's closest adisers and responsible for his

policies (Copyright, 1936, by NEA Service, Inc.)

Investment Trusts (By Thomas D. Sheerin & Co.)

Administered Fund 2d * Affiliated Fund, In American Business Shares. . *Broad Street Investing . Bullock Fund, Ltd.

Corp “AA’ or '“Acc” Corp Trust Sh (orig) . . *Diversified Trustee Sh “B”. Diversified Trustee Sh “C".. Diversified Ar ustee Sh * > . Dividend Shares, Inc. . General Investors Trust. Incorporated Investors Investors Fund Market St Investment Corp. aryland Fund chusetts Investors .... Mutual Investment Fund ...

Tr Shs (orig) arterly Income Shares. Amer Shares, Inc. . Amer Shares (orig). Cumulative Shares.

2 10002

Shar tate St ie Ry yA Jupervised Shares, Inc {( el) 14.36 [rustee Am Bk B 1.13 Frustee Stand Otilshares “A” 7.04 tee Stand Oiishares “B” 6.19 Tnised. Stand Oilfunds 1. Ex-Dividend. .

Produce Markets

prices are id for {fhe J the country. Fhile ook | H eianapolis the price jce is a cent higher.)

avy Dread he Bos lbs. and over, 14c; = _springers. Eom ibs. end over.13c: ringers, to 4, '13¢:

a deduction of fe, gros o 3.38036. Butterfat,

By United Press

ate; sirgts,” oh Go

FRANC BLAMED FOR ECONOMIC, POLITICAL ILLS

World Conditions Now Make Devaluation Inevitable, Simms Says.

BY WILLIAM PHILIP SIMMS Scripps-Howard Foreign Editor

WASHINGTON, Sept. 28.—Devaluation of the French franc, long regarded as inevitable, will shake the Popular Front regime of Premier Leon Blum to its very foundation. In the United States and Great Britain, there should be no really serious repercussions. Both countries have had ample time to prepare. Each has upward of two billion dollars set aside as a stabilization fund. Currency fluctuations should not be great. But the political effect in France may be otherwise. The franc, until the enti of the World War, was worth about 20 cents. One received five francs and a few centimes for a dollar. At this price, millions of French citizens

for their thrift, almost every Frenchman owns at least one of two of these securities. In the early twenties the franc began to slip appreciably. It fell to 7, then 10, 15, 20 to the dollar. In 1926 the bottom dropped out entirely. It went to 50. For a few weeks

dollar now brings only 15 francs.

the country was deluged with unrest. Then former President Poincare was drafted back into service and made practically dictator to save the situation.

Franc Was Stabilized

And he did. He brought the franc back from the edge of the precipice over which had tumbled the ruble and the mark. He brought | it back to 25 to the dollar and held it there.

Even so, the French populace had

lost 80 per cent of their savings When they bought their bonds 100 francs represented $20. After stabilization, 100 francs represented $4 And living costs were high in proportion. But they took their loss with good grace. They shrugged and repeated the wartime formula: “C'est la guerre!” For a time France flourished. The depression which hit America, Britain and the rest of the world seemed to pass over France. One reason was her cheap money. Her industries and her commerce boomed. She had little or no unemployment. In fact, many workers came into France from Italy and elsewhere abroad.

: Depression Finally Came Then Britain went off gold. And America. A large section of the world followed suit, shaping their currency values more or less to the: pound sterling and the dollar. The

About that time France: began to feel the depression. She has felt it increasingly ever since. France’s budget has been out of balance, taxes have risen. Unemployment grown, exports fallen off.

bought government bonds. Famed |

RMAL LIN

Where Business Stands Nationally

N.Y. Bonds

DAILY HOND INDEX (1926 average equals 100) bl)

20 Inds Yesterday vere 92.3 Toda 92.14 wei OS < 91.5 89.4 . 93.4

36 Low 90.0 84. (Copyright, 1936, By Standard ¢

_gS335255:8

wvaaan

93.3 tistics)

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

Close. Treasurys

‘1002 1108.16 +309. .. 1088 A | ers 0427

Am Tel & Tel 55 '6 Arm & Co (Del) “ 55. a3 Coast Line 4

Wat Wks 6s '15 an Roll Mills 4% ’45 Balt & O 5s 2000 & Ohio 6s ’'83 & Ohio 4%s '60 Buff Roch & Pitt 42s °57.... ¢ Beth Eteel 4%s a: Chi Milw & St FP vl a Chi Mil & St P 55 2000. ..... Cleve Un Term 53 ’73 Cleve Un Term 42s ’77 Col Gas. 55 May '52 Col Gas 5s A ri Bl. nein Col Gas 5s Can Pac Perp 1s Cent Pac 5s ’'60 Big Four 4'2s 77 ...... Colorado & hi & Chi Con Gas 4Ys ’51

N Y. Dock 5s 5s ie ions he Erie 5s ’'75 ... pervs Erie 5s 67 Grt Northern “G’' 4s ’46 Grt -Northern “H'’ 4s Grt Northern 4'%s 77 .

Interboro Rapid Trans = "66... Internat] Hy Elec 6s Interntl 2! & Tel B%s % Interntl Tel & Tel ’55 “a Interntl Ta & Tel 3s 52 |. Lehigh Valley 4s 2003 : McKess & Rob 5’

Many industries have closed down or gone bankrupt and unrest has mounted. Many French statesmen have, long insisted France's economic ills are due almost entirely to an over-valued franc. Said Paul Reynaud, former Minister of! Finance: “For years we have been trying to balance the budget by paving expenses and every year we have thought we'd done it, But each year the deficit has repeated, and why? Our currency is over-yalued.”

Public Opinion Feared

Secretely in agreement with Reynaud though many Frenchmen were, as politicians they did not have the courage to face the music. Voters already were clamoring that, having lost 80 per cent of their savings by one devaluation, they would not stand for another. When the Popular Front govern- | ment came into power last June, it did so on a promise not to devalue currency. Backed though it was by Communists and Socialists, -the Blum government was just as opposed to devaluation as anybody on the extreme right—in some cases even more. For. many conservatives are confident France can never come out of her slump until the franc resumes its old position relative to the dollar and the pound. Devaluation they say, is France's only salvation.

Fruits and Vegetables

otations below, subject to change, are es wholesale prices being offered to buyers by local commission dealers.) FRUITS—Pears — Michigan Bartletts. n ao Mene 1 1b, Se.

un —Mexican, Sarton, 12s. 22'%2c Persian seedless, per 100, 32a? Peaches—Elbertas, 2% inches, bu. 95. Plums—Italian prunes, 16-1b. lug. $1. Grapes—Michigan Concords. a ae et. Saas. EE a: Vio anes. bu., : Honey ws, vine ripened. Lg 9s-12s. $2.00. Watermelons—=lome

VEGETABLES Beans—Round _stringless, bu.. $2. Bee ome-grown, doz.. 25ec. | moth. washed & (rimmed 60c.

mi wn. ‘Corn— Cucuinbers—Ho : Ae ‘Kale—Homegrown. bu. bu.. Cali-

1b S basket eh Mint—Doz.,

i om bus $1 (By United Press)

MThioah. Ctscabise. Sweet —Apples-_Michigan

linois

£33: | climax. bas Shea ES RE he aE

SURANCE PREMIUMS UP |* ™** Sept. 26— | Bx premiums in |

Nor States Pow 5% 41 New Orleans Term 4s '55 Penn Ry 4s '63 Penn Ry 4%s ’'84 Penn Ry 4%s ’81 Penn Ry 33s '70 Pac G & E 5s ‘42 Portland Gen = 3 Para Publix 6s '55 Penn P

| Postal ae

Rem

Sou Rail 6%s ’'56 ... Texas Pac 5s ’80 ...

Warner Bros 6 Western Union $3 ‘Youngstown S & 'T 4s ‘61... Youngstown S & T 3s '51.. FOREIGN Argentina A 6s Australia id 56

Rome 62s ’'52

rN 3 a» Local Securities (By Indianapolis Bond and Share 2 Dorp.) The jollowing sent actual bids or offeri indicate the approximate

na based on buying 3nd selling ino: recent transaction BONDS

(T H) 43s '61 ..100 Ft W 5's '43.. 104

le ‘iries or

Ing 5s ‘67 .. & Tel 5%s '53.. Works * 5s ° 58. .

5s '65 . L & P 6s '47.. 6s »

Belt Ratirosds & li es | Belt Reiko Ss > Bik Fas’ com 51 Railroad Yds d 28.

Belt Central Ind Power Ear 00! HER DE A oy nin ‘108 *Ind Gen yo Co 6 a 88

ERR en SE i 30c. — |W

1By a Press)

wk 5% the curse

=Gieve: 1

SWINE STEADY

T0 10 CENTS UP

Livestock Prices at Local Yards Today Mostly Unchanged.

The hog market was mostly steady to 10 cents higher at the Indianapolis Union Stockyards today, with receipts set at 1369 head, with a holdover of 198. The top price of $10.10 was paid for weights between 190 and 280 pounds, and heavier and lighter weights ranged from $9.95 downward to $8. Compared to the close of last week, yearlings and light steers were fully steady, medium weight and heavy steers were steady to 25 cents lower, better grade heifers: were strong to 25 cents higher. Cows were fully 25 cents lower. Top for steers during the week was $10.15, and the bulk better grades moved at prices from $8.50 to $9.50. Top heifers brought $9.25. Cattle receipts today were 50, with vealers numbered at 100. 'Vealers were nominally steady, as were 50 lambs. Other cattle and sheep quotations were unchanged from yesterday. The highest price range for hogs was from $9.90 to $10.10 paid for weights between 190 and 280 pounds. 0 hundred eighty to 300-pound ogs brought $9.75 to $9.95 and hogs from 300 pounds up ranged from $9.25 to $9.85. Lighter weights sold downward from $9.95 to $8, 160 to 190-pound weights ranging from $9.50 to $9.95; 155 to 160 pounders, $9.25 to $9.50; 130 to 155-pound weights, $8.50 to $9.50, and 100 to 130 pounders, $8 to $8.75. Packing sows were mostly $8.25 to $9, top $9.25, HOGS Bulk. $10.05010.25 [email protected] [email protected] [email protected] 25. [email protected] 26, [email protected] Light Lights— 140-160) Good and Mediu

e IE 0) Good an4

Mediu ea (180-200) Good a ad

Mediums Weight um (220-220) Good and (220-330) Good Heavyweights— (250-290) Good (290-350) Good

Sept. Receipts. 21. 23 1000 23. 24.

9.70 9.25

9.90

8.55 8.25

choice. . choice .

@10.05 10.10

10.10 9.90

owm

choice . .85

choice .

® oo On 09 9d ©O® 9 Hah

0P momo

-10 oo

«3

bout of oo oo

(550-900) Gi

(900-1100)

—

Co Choice Good ... Metium (1100-1300) G

pes PODOSHNOS ANOS

SION ONN® © NN0DO © =I1=TNIOD UCI Da NI ~TBI OU DUIS O UN UN OY VN Tn SILI DIDI BI bes aI DIDI 1 TNO ORM NNNUN NG

ow 83333 09808 6000059059080

Mi (1300-1500) Gi

1550-750) Goo d

Common, medium. Sood and choice . Common, medium.

1750-900)

od Common and med dit um Low cutter and cutter . Bulls, good Cutter, com. and med. bulk. . Vealers —Receipts, 100— Good and choice Medium

poem on NO Jaa oo uuiy

5.5 4.00

gn Lor oD 238

.00 .00 .50 1250-500) Good and choice. $ 8.50 on. medium 6. on pr Stocker Cattle

(500-800) Goou and choice .§ 6. and medium. a 4.

£8 ©6808

00 gg

(800-1050) Sond oe choice. . m. and med.. Heifers— and choice Com. and medium

ue aac

R38 FIN 99 ©68 0999 82 8% Susy

Wa eo 38 ~~

Good Common and medium SHEEP AND LAMBS

Lambs—

2383 8 e888

nono fo 8838

, 190-170) good | and choice.. 2.25 and medium. 1.25 i {Sheep and lamb quotations on

Other Livestock

oo. 2 nied Press|

—Hogs—Receipts, Th direst; larkes, mostFriday; Tos. 49. Bai 15; 210 Ibs. sellin

ie ng

25@ 9.75 | May

first cutting, ting, $18 5081750.

CHICAGO WHEAT STEADY DESPITE "FRANC CHANGES

Devaluation Is Expetiing: to Have Bullish Effect on Prices.

———— By United Press

New York Stocks

Transactions were 900,760 shares, for CHE Lusty Shor Tm

terday. Dow-Jones mes preliminary

Gimbel

averages showed up 171; railroads, 56.50, up 1.06; utilities, 33.83, up 0.20.

Prev. Close.

CHICAGO, Sept. 26. — Unsettled Ohio A monetary conditions abroad follow- P ing France's abandonment of the] Pure gold standard gave a nervous tone Shell to the wheat market on the Chi-| Soc Vac

cago Board of Trade today. At the close, wheat was unchanged, September, $1.174%; corn was unchanged to off %, September, $1.16; oats were % to 5%, September, 42% cents. Rye was off % to %, September, 84%. Grain houses with foreign con-

nections generally anticipated a ¥

bullish effect from the devaluation of the franc. Prices opened with fractional net gains in response to strength at Liverpool but broke a cent later under light selling. At $1.14: for December, resting orders to buy ab-

sorbed the surplus offerings and

this, together with firmness at Winnipeg, caused a moderate rally. Activity dwindled toward the end of the session, and final prices ruled

a practically unchanged from the pre- | reo

vious close. . Liverpool Prices Up Liverpool wheat futures opened strong as a result of the French devaluation proposals, and closed with net gains of 1% to 13% pence. A sharp reaction in sterling, however,

made it difficult for traders here to

interpret the action of the British market in American funds. Winnipeg was firm on buying by exporters. It was reported a fair ex-

port business was done in Canadian wheat overnight. Corn, oats and rye showed little change in prices for the day. September corn again scored a small gain as shorts evened up open positions, today being the last day for deliveries on September contracts. Deferred months followed the swings in wheat prices. Trade in the yellow cereal was light.

CHICAGO PRIMARY RECEIPTS —FEushels— Today. Last Week. . 490,000 450,000 .. 451,000 308,000 144,000 179,000

CHICAGO GRAIN RANGE (By United Press)

High Low Close 1.16% 1.17% 3.1

4'2 1.15% 1.13% 1.14%

1.15% 1.16 945 95% 89% 90%

42 42% A2Y, 427 4 43%

84% .827* .80%*

91 11.65

- 11.55 + 11.67

Wheat ...coce.

Prev. Close

1.17% 1.151% 1.14%

1.153% vo 95Y, .+90%

A2 42%, .43

877% 83 .81

85%

11.47 11.35 11.50

INDIANAPOLIS

Wheat—Market, firm; Secel ts, loads: No. 1 red, $I. Fred, $1.12; No. 1 hard, $1. 16; No: 3 hard. $15. 3B. eceipts, 2 pty y AL, P PERL white, $US 1.13; 4 White: [email protected] yelfm ier T Bo, Solon: SLisaln 4 yellow, 99c 0. 2 mi Nols Noy mixed, $1.01%@1.03%2; No. 4 mixed, bcos. 01'>. Oats market steady; receipts, 2 carloads: No. 2 white, 42@ ! 43c; No. white, 41@42c.

7 car-

CHICAGO CASH GRAINS (By United Press) CHICAGO, Se 26.—Wheat—No sales. Corn—No. Sw. Ike.) $1.12 @1.17%; Illinois 2: iow. 2 yey; $1.12 a. 171%; No. 3 8 51.120 5%; No. 4 yellow, [email protected]; 5 yellow, $1.10 @1.11. Oats—No. 1 white, 46@46%ac; No. 2 white, 45@46c; sample, 4lc. Rye—No sales. Barley—No sales. Tinlothy seed— Old crop, $5.50; new crop, $5.7 Clover seed, $1 4@21. Cash provis rs $11.62 bid: loose, $11.12 bid; leaf, $11.25 nominal; bellies, $13.25. bid.

&| New Bond Issues

(By Lyons & Co.)

‘3s & E 3's '66..103% Serv 4s '61 ....104%

LOCAL CASR MARKET

City grain elevators are paying $1.09 for No. 1 red wheat. Other

1 grades on thelr merits. Cash corn,

Texas Corp Tidewater Assn Un Oil of Cal.. Steels— Am Roll Mills . Beth Steel . Pes Biont Cc . Tam Steel... 30%

Rep oe Yt Steel 24% ep Iron Reb Ir & 8 £ a 114% us Pipe & Pdy 20% Va 139 & Fc. 30 War Pi y nen S & T 80% Motors— 3

30 9%

Studebaker .. Yellow Truck .. 20 Motor Access— Bendix Bohn Alum Borg: Warner Briggs : Budd

Bree Auto Lite.. Elec Stor Bat Greyhound Houdaille . Murray Body ... Slew warner rae Timken Roll Timken Det Mining—

Aaska Jun .

Axle

likewise | &

Kennecott Cop. McIntyre Mine. Park Utah .... Phelps Dodge. . St Joe Lead. . Us Smelters. . Vite

Amusements—

Crosley Radio... Loews Inc Radio Corp .... Paramount

RKO Warner Bros. Tobaccos—

60 +100 103% 25 891% 5578

on 00 ..10034 L & Myers “Br 104% Lorillard 223%, Phillip Morris. 89% Reyn Tob “B”.. 56 Bally=

Atchiso

: T9Y, Atl 2 +Lines.

39%, 24%

11% 67% 10

e pfd 31 ar Northern pfd Ill Central Lehigh Valley .. Lou Nash ....

MK &T .... MM Es STH.

en N Y New. Haven Nor Pacific

enn 1 Corn |

Pac 13 West Maryland 10% 10%

Equipments— Brake Shoe . 60 Am Br os 49% 33% 58% 45

Ww a 44Y,; 44 Westingh Elec [141% 145%

Utilities—

Am & For Pwr Tl

6% Am Pwr & Lit.. 12% 11% & T 175

Consol Gas ._... Elec Pwr & Lit. Int Hydro Elec - . Interboro R T . Int T & .

Ser J... So Cal "Edison Std Gas Stone & United Corp Cees Un Gas Imp ... 15 Ut Pwr & Lt ‘A Western Union.. Rubbers—

Firestone

87% _

287s 22

Good Us Rubber

.... 33% 071s | U S Rubber pfd. 77

Miscellaneous— Allis Chalmers . I

Contl

Can : /2 | Caterpillar Tract 80

Deere & Eastman ‘Kodak 18%

new No. 3 yellow, $1.03; oats, 36¢c Parity Bak

Hay—-No. 1 timothy, $14.50@15; No. 1 ¢ clover, Sais; No No. 1 alfalfa,

NEW YORK “CHICAGO TORONTO

SOUTH BEND

k Thomson : McKinnon

Aviation— Aviation OCorp.. Boeing Aireft .. Curtiss Wright . Curtiss Wr “A”. 20 Douglas Air .... Nor Amy $20.8 IT DP cas Uni Rirett New. Chemicals— Air - Reduction... 77 Allied Chem 229 Am Com Alcohol 28, Col Carbon ....123 Com Solvents ry

-Sulph! Union Carbide .. Drugs—— Coty Inc ory & Fink . .. Un Drug (new). Zonite od...

Finaheial

Adams Exp y AloEbens Corp. Am Int Corp ... 12 Chesa Corp ... Lehman Corp ..110 Transamerica .

Building

Am Radiator... Gen Asp halt : 245 Holland “Furnace 372 Int Cemen 55%; Johns ant ville els Libby Owens Gls 69% Otis Elev . U 8S Gypsum ais Ulen Cons ......

Household—

Col Pal Peet.... Congoleum Kelvinator .... Mohawk Carpet. Proc & Gamble. Servel Inc ate Simmons Bed... Textiles— Amer Woolen.. Belding Hem... Celanese Corp . Collins Aikman. Gotham Hose .. 10 Indus Rayon ... Real Silk ....

31%

758 13% 25% 55%

34 11%

Ch icago Stocks

(By Atkins, Hamill & Gates) Frey. Advance Aluminum ..... . 93% Asbestos Mf

Chicago Yellow C Cities Service . . Commonweaith Edison , | Gard Biscuit

Cra eon Bon ‘Rubber ..... . Economical Drug ....... Electric Household ....... General Household ... Godchaux Sugar. “A”.. Great Lakes ‘Dredge. Katz Drug : RKen-Rad T & L Lincoln Printing Loudon Packing Noblitt-Sparks Northwest Bancorporation Public Service of Northern III. Signode Steel Standard Dredge pfd.. Zenith Schwitzer-Cummins Sundstrand

New York Curb

(By Atkins, Hamill & Gates)

Aluminum Co of America Am Cyanamid ‘“B” Am Gas & Electric Ark Natural Gas “A” Cartier roo reole Petroleum Cor Flee, Bond & Shar Corp... or otors Canada “A” Glen Alden (1). Ar Hime ois RLaRine mble 2finin; Hygrade Food 8 Co jmperial on of Canada

Unlisted Stocks

(By Blyth & Co.) NEW YORK STOCKS

Bankers Trust Central Hanover hase Chem

uaran ving". le wees frving National Sty irs ational = ee National Shaw ton :

or NSURANCE Acina Fire Insurance . erican Ins of Ni Baltimore Americ: an" York. City of New York Pranklin Pire Federal, Insurance x me great A eric can Insurance. . Han: ford ome Insurance vesiba Notions Liber" ] a Tr y North Rive iy Phoenix

y 5 Fire t ee estchester Fi oe *Ex-divide ire’

——— > > - Building Permits Lawrence Tutwi - additions 3235, der, 2051 Caroline av, estinghouse Electric and Suppl Georgia and Pennsylvania, repairs, $10, po Indianapolis Water Co., 17th h/and Harding. pf - pouses $3500. nner N. Gray-st, roofin oT, Wilcox, 1132 Arnolda st, a. Pe fooon Screw Prod Springdale-pl, boiler. $350. Uety ©, Pure Oil Co., Indi 'p-av a

i New Yorking station, $ 20: Forrest Knight, 11th-st’ ang 00. regory - a Appel, 6484 College av, elecFH State-av, electrii is Renning Co., Communi po acd cioters. © Co., 38th and Illi-ridian-st, x Co, 2421 N. Me. Market-st fear) arage, Joseph Glatt, Mapie-in_ | ‘boiler, $270. setts-av, Botler: $7 Masaghu. dr. arage ull 0 ato. plar-rd, furnace, . 0. or 6553 Riverview-dr, ga-

electrical, $100 Leland-a, rge Orman, 2134 S. maan Refin 10th-s¢ and SherPerine Oi Lindeman Wood Finish Co.. 1609-13 WwW. Relian a art ty Harold Bartholomew. 344 BuckinghamTine, $400.

93%,

October |.

12 |

PACKING HOUSE

OUTPUT DROPS DURING AUGUS

Seventh Reserve District Canning Industry Under Normal.

Times Special : CHICAGO, Sept. 26.—A more

4 than seasonal decline in production of packing house commodities at n= spected slaughtering plants was ree ported in the Seventh Federal Ree serve District today by the Chicago Federal Reserve Bank. ; ' Now at a level 3 per cent under July, the decline reflected a somes

what more than seasonal decrease in the supply of hogs and less than normal gain in marketings of other live istock, the review stated. : The report also disclosed a sub= stantial decline in the 1936 pack of principal vegetables and many fruits. Orders booked by furniture manufacturers in the district dure ing August were up 50 per cent over the same 1935 month. August production of packing= house commodities at inspected plants in the district was 1 per cent above the 1926-35 average for the month, and 26'2 per cent ahead of the same month last year. Tonnage sold: exceeded that of August by 17 per cent, but was 112 per cent light= er than in July and 6 per, cent bee low the 10-year average.

Price Level Is High

An advance in the price level of packing-house products was report= ed for the month. Dollar sales billed to domestic and foreign customers were 3 per cent greater than in July, 12 per cent more than a year ago, and 4%. per cent above the 1926-35 average. Reports from 146 of 400 cane neries in the five states of the Seve enth District, the bank said, indie cated the 1936 pack decreased sub= stantialy from 1935 in output of corn, peas, beans, and most fruit. Smaller losses were recorded in other items.

Corn Pack Is Small

The decline in the corn pack was found to be much larger than had been anticipated, and that of toma= toes probably reflects a strong con= sumption demand for .the raw product. Present estimate of 1936 pack of corn, in terms of cases of 24 No. 2s, is 3,378,510 cases against 10,085,862 actual in 1935; peas, 2,361,540 cases against 3,967.032 last year; toma= toes, - 2,041,733 against 2,744.978; cherries, 1,039,178 agaisnt 1,516,512, Furniture orders booked in Aue gust reported by Seventh District manufacturers were 50 per cent above the 1935 figure the best gain this year. A less than seasonal ex= pansion in shipments was recorded, and the 22 per cent gain over & year ago was, with a single excep= tion, the year’s smallest. Unfilled orders showed further accumulation in consequence, and were 24 per

| cent heavier than a month earlier,

amounting to 112 per cent of orders booked. Operations in August rose five points to 72 per cent of cae pacity, land were 11 points above last August.

Commodity Prizes

October December

. Low. 5 11.85 11.78 11.86 11.73 11.70 11.58

October December

BUTTER

October | .. December

Close. 32%

Close. 25%

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The Indianapolis Life is equipped to provide for all the needs for every member ot the family. Our contracts are unsurpassed for meeting needs for adequate insurance and for a safe method of investing to guarantee future income.

Tune in on “Life's Epi- - sodes” each Sunday afternoon at 3:45 over WIRE.

® Edward B. Raub, Pres.

INDIANAPOLIS LIFE INSURANCE COMPANY

Real Estate

WE SOLICIT APPLICATIONS FOR FIRST MORTGAGE LOANS ON PREFERRED INDIANAPOLIS PROPERTY. CALL AND SEE US ABOUT LOW IN-