Indianapolis Times, Indianapolis, Marion County, 3 October 1936 — Page 12

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Trends

European Recovery

Rireiet of

The Times on Finance

House rents, for 32 shown a

cent above a year ago and 2

PAGE 12

SATURDAY, OCTOBER 3, 1936

while building costs are 88

Rents Continue Increase

consecutive months, have

steady upward, climb, now standing 11 per

27 per cent above the depres-

sion low. Rents now are 85 per cent of the 1928 level,

per cent of that level.

Is Misleading, Flynn Says.

BY JOHN T. FLYNN—ed

EW YORK, Oct. 3.—For a long time we have heard much of the recovery in Europe as contrasted with the recovery in America.

"This was a favorite theme with Mr.

Hoover, He has contended that . world recovery began in the sum“mer of 1932, that it continued in . other countries and was interrupt"ed only here. That, he has argued,

= was due to the policies of the Ad-

ministration. The whole matter turns, upon the question of whether or not there

* has been recovery in Europe. Par-

= ticularly is this - true of Great

. Britain, which is held out as the shining example of recovery . through natural causes. If you look at unemployment . figures you would assume that other countries have gone farther

In Germany there were 5,575,000 unemployed in 1932. Now the - number is estimated at 1,413,000. - In England unemployment was 2.272,000 in 1932. Now it is put at 1,401,000. ~ In France, however, unemployment never was as great as in

FRASER ES EEF EER Xe SAFE

a million., But now it is really “greater than it has been in the last five years. . 8 8 W% UR unemployment was about 15,000,000... Now it is about 1€,000,000. Thus we seem not to: have done so well. But unemployment figures in Germany and Italy ~ mean very little. Are the men in

ER unemployed? Are young men

- serving their terms in the newly created military services called un-

~ employed? It is by this means, for

one thing, that Germany has made & great reduction in her unemployment. The same thing is true of Italy, though figures of her uncmployment now are carefully concealed. In England, of coursce, there has been greater improvement in unemployment than here. But first

of all, it never was as bad to begin

Secondly, the improvement

- ‘has been due in part to government

But just what the improvement mean? Wages have not increased in England, while here they have increased greatly. Production has not increased nearly so much in England as here. Here the increase has been 70 per cent since 1932; in England the increase has been 37 per cent. But what is more serious ig the condition of thosa at

~ work. Everywhere the force which

presses on European workmen Js the small amount of their total earnings. ”. ” 2 N Qermany wages are about 5 per cent less than in 1932, while living costs are about 7 per cent higher. But this refers to wage

; ‘ rates. Actual wages received may

be but little better. What is overlooked, however, is that comparisons of recovery in Europe and America must always .consider what the word . recovery means. Recovery for us means getting back to something like the standards we had come to demand in the ’twenties, In Europe the

. Istandards then were pretty low.

Europe never had in those years the degree of prosperity which we

«tries still. were squeezing along on

low wages, low earnings, low prifits. To have lost even that and then to “have recovered only a fraction of it hardly is to be called recovery. (Copyright, 1936, NEA Service, Inc.)

Local Securities

(By Indianapolis Bond and Sh. :G Corp.) The following quotations do not reprebids or offerings but merely indicate the approximate market level based on buying and selling inquiries or

<-recent transactions.

BONDS Bid. 103 .104 .-104

Ask. 1044 108

hg Morris &

uncie Water Works | 8 “Noblesville H L >] P Glas 47.

4. Richmond W W 8s

; 0 : 5s "49 .... : Se gus Was So eee 10

frac Terminal Co 5s '57 [ndpls Water Co 3'%s '66 ... STOCKS C Brewin Co col Bok Br roads & St Y

ky = Seymour Water Co 1

= 51 2 Bert Railroad & Stk Yas od ge

i Piook

ntral pd Power pid Ts Bone Tel Tel Jr Ligeg

*Ind & Mic Elec Co pfd Ts.. Ind Gen Serv Co 6s Ind Hydro Elec Co Ts

~ Fruits poe Vegetables

Quo below, subject to change, are " va holesale prices being offered to ers peg local commission ers.) UIT ars — an Barletts, Bananas—Select ib. 0. 1 Malden Sm 4 2% inches up, 50. Limes

nkis $6. Santon $215c; Persion seed: _ $2.50. Peaches—Elbertas, 2 oe lums—Italian priges,

$3. Pl . G chigan a8 10. Fapes-}

Tokays,

v Dew a ine lhe RFs d, 90. $1.50. eater Homegrown, S98 306.

te, — .75. Celeile ia crate, Sie :

eR Re SEE Produ. ce Markets y | sstnte ie for for deliv:

cite Ba Bust : ang

burgh’s three rivers

Southern Union Pacific 3s ' | Wisconsin G

CHICAGO WHEAT

FOLLOWS HIGHER FOREIGN TREND

Small Gain Held at Close; Corn Trading Is Listless.

By United Press CHICAGO, Oct. 3.—~Wheat traders took their cue from Liverpool and Winnipeg today, and prices ranged higher on the Chicago Board of Trade. : At the close, wheat was up 1; to 7 cent, December $1.147%; corn was up J cent, December 94%

cent, December 42% cents. Early buying of wheat was based almost entirely on the strength in Liverpool. After the opening flurry of buying orders, trading interest was at a low ebb, and activity was very light. An advance in Winnipeg aided the market in maintaining its buoyant tone. July led the carly advance but fell back slightly as the session progressed. Orders to buy placed through commission houses supported the corn market, but advances were of little importance and the market was listless. Locals generally were on the selling side early. Near the

close some of the early sellers move to cover.

their own, and fluctuated in response to price changes in other grains. Trading was light in both pits. Lard futures tended toward lower levels most of the day,

CHICAGO GRAIN RANGE (By United Press)

High Low

cl Prev. ose ose Wheat—

114% 1.14%

82Vsb .80%sa Jq1%sa

LOCAL CASH MARKET City grain elevators are paving 15 $1.00 for No. 1 red wheat. Other grades on thelr merits. Cash corn, new No. 3 yellow, 93c; oats, 36c. Hay—No. 1 timothy, $14.50@15; No. 1 clover, $14@15; No. 1 alfalfa, first cutting, [email protected]; second cutting, $16.50@ 17.50.

RIVER FREIGHT ‘RECORD BROKEN

August Pittsburgh Tonnage Exceeds Panama, Suez Average.

By Scripps-Howard Newspaper Alliance PITTSBURGH, Oct. 3. — More

tonnage was transported on Pittslast month than on the Suez and Panama Canals combined in any average month. This disclosure was made in Army engineers’ figures showing that all monthly tonnage records on the

Rivers have beerr smashed. “So keen is the demand for wa-;

the only factor preventing even greater tonnage is the utter lack of sufficient tows and barges,” one responsible official observed. “Existing facilities just can’t handle the traffic!” Local river craft in August carried the unprecedented total of four and a half million tons of assorted bulk, including coal, coke, gravel, limestone, petroleim products, sand, steel and other commodities. The Suez and Panama Canals, greatest of the world’s artificial watgrways, fall a few thousand tons short of that mark in a combined monthly average computed over a long span of years.

New Bond Issues

(By Lyons & Co.)

Allied Stores 8d; 51 Arkansas Gas

00 1043 jssoeiateg * ns 4 4s 65 . 0"

-107%s 00% . 1s 107% .+102% 1 +» +10! 104% 1013 107 ..104% 106 9935 102% 103% .107

Jumbo, 36(s)- | Gen Motors joc Corp 3s ter Rysiops. South Utili Kan

gira ed

Potomac El Power Saas "66 . Pub Serv N H 33%s '66

San Diego G & Southern Cal Gas 43 * rn Kraft 4s

Se E 3 es. 103 ub Serv 2 a

Money and Exchange FOREIGN EXCHANGE \ (By Abbott, Proctor & Paine) England ....... y 94

avs ssans

rasme Ete

750

cents, and oats were up % to %f

Oats and rye were without will of |

coal, steel, gravel and other bulk He

Monongahela, Allegheny and Ohio [4

terway transportation facilities that | 5

| Packing,

quarters in I company officials.

napoiis,

retail markets to absorb the

Consolidation of the Dryfus Packing and Provision Co., Lafayette, with Bo-Peep Markets, Inc., with headhas. been announced by Consolidation was for the purpose of business expansion, it was said, and the new group will own and operate meat markets through_out Indiana, purchasing from the Dryfus Co., ulti- ° mately putting in operation a sufficient number of plant’s entire output.

Retail Companies Consolidate

Dryfus Co. retrigorating unit showing government-inspected meats.

Opening of the new markets, which are io confine their service strictly to supplying meats, is fo begin in the near future. Officers of the new corporation are W. H. Fe¥er president; E. S. Urwitz, vice president, and M Silverman, secretary-treasurer. The Dryfus Packing and Provision Co. was established at Lafayette in 1870, and has been in. coptinuous operation for more than 76 years.

New York Stock Exchange Prices

Transactions totaled 1,632,260 shares the best Saturday since Feb. 1, when the total was 1,758,972. A week ago the total was 900,760 shages. Curb sales totaled 369,000 the largest since March 21, when 382,860 shares were traded. They|U compared with 184,000 a week ago. Dow-Jones pfreliminary averages were: Industrials, 172.44, up 1.68, and a new high since March 30, 1931; railroads, 57.85, up 0.67 and a new high since Oct. 20, 1931; ities, 34.81, up 0.29, still wor8 than

of all listed shares reached the best

‘| level since March 1, 1931.

(By Thomson & McKinnon) High. Low. Close.

102

Oils— Allgrsds . 104 10312 282 18Y%s . 1378 34

Pet Ehinips Pet cans Plymouth Oil .

Tidewater Assn Un Oil of Cal.. Steels— Am Roll Mills.. 31% il Steel

Fase 3

ous Steel Rep Iron & Steel 25 S Pipe & Fdy 51% S Stee S Steel pfd.. Warren Bros ..- 9% War Pipe & Fdy 30% Youngstn S & 1 83%

Motors—

Auburn Chrysler Gen Motors Gen Motors pfd’ 13012 h M 2% 19%

COOMA = Th to RS CY ~ 10

LONGI BCI REI BF To Led =i brane 3

[od

eo Studebaker Yellow Truck ...

Motor Access—

Arner «.. Timken Roll Timken Det Axle

Mining— Alaska Jun .

Fox Loews ent Radio Corp Pafamount

Gen Cigars Ligg-Myers ‘B’.. ofinrd Pda Tob ‘B’ ais Rails—

Atchison it Lines. San £5 Sin [ag

B91 CI pa 89 BER Rl

00583 =a

Bed s38outants

= Beier

benstttut ota

ra od

oni hE West Maryland. 11%

a =8

2apass. tun

Feta Flin FER SFOS

ir Geaasy.suss Be

Be MMe Fuses aea

883

-* ™

ed REI. = &

a point under the year’s high. Value | C

2 Sol.

Ut Pwr & Lt “A” 4 Western Union... 89% Rubbers— Firestone

Rubber U s Rubber pid. a Miscellaneous— Allis Chalmers... 61% Am Can Ya Am Mach & Fdy fe Anchor Cap .... 19 Brklyn Man Ti. . 56% Burroughs Add.. 5 2%

util-|J 1 Case

gs Contl 70% Caterpillar Tract 81% rown Cor 83 Curtis Pub Deere Eastman Kodak. 172 Foster Wheeler..

Natl Cash YReg 27 Owens Bottle i141

Rem Rand Worthingtn Pmp 20% Foods— An Sugar Armo Arno 6% pfd 81 Beatrice yamy 23 Borden Prod ... 27%

Cuban Am Sugar 9% Gen Baking .... 14% Gen Foods

G W Sugar . 36 Natl Biscuit . gone 30% Natl D Prod’...

High. Low.

Close.

14% | Safewa.

Purity Bak S Porto Rico Sug 30 Std Brands 15% Un Biscuit United Fru, an Ward Bak * '

Retail at Allied Stores ... i A 0

First Natl Stores Gimbpel Bro id Gm Un Tea Cone Jewel Tea Kresge § 8 ih Groc ... Mag RH ..... rory St .... Moai St ... 14 Marshall Field . May Dept St ... 6 Mont ard .... 50° Penney J C .... 8 ....3 Sears oebuck . Woolworth Fr

Aviation

Aviation Corp ... 5 Boei

gut ght urtiss Wrgh A’ 19% Se. Afr .vie Nor Am oy cvne 3% Spey. oo 22% Unit reft Rew) 25%

Chemicals—

3 % | Air Reduction

N. Y. Bonds

-52

rah fk kk ok pk fh ok ok et n c

[od © on

Alleg Corp

Atl Coast Line 4328 * 8 Fe Sn

Gas 5s M 3 A .

Col Gas 8 Ap:

t Ind 4s

ie 59 67 Grt Northern “G” 4 Grit Northern Lg an Norshern 3

el & his th Vailey 4s 2003 n Tex Adi 5

Nor Pac 2047 Nor States Pow 5s ay New Orleans ora 4s

Sou Pacific 4s '49

Italy Tg '51

i venus

srsscensens

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

Close.

Treasurys

‘Home Owners Loan Corp. 1312-44 evens srias +.101.28

seeeee.101.30

108.17

Federal Farm Mortgage Corp. 3904 ......... vais

49 ae 1942-47 Lai... DOMESTIC

FO . -104.31 Serie . 10830

Close.

55 44... 0000000... 99% 96Y2

sev eave

4g.

ceses

ur Colorado & So 42s '80.. Chi & Wes *52.

test 4%s 49. a AE Ree Se destin 10845

cMesase

ib senvens 67

.e 5.10! 28

Sou Rail 45 "56 ...cciiioeeees TO {1 Sou Rail 68 '56 ...cesoevvevaee

ss ieineses] 00% ‘60

115 a 36%

5%. cancrennsss

Ses *56. tsatsvasasnen

a Ta Se

close.

>| Commonwealth

td FREES

2223522 a 8

fob hu fod pl Ei

838328825 a err

s3o8e83us Fe BE ¥

ph ass

digg FER SEE

£5 §

SES E

Allied C 13 Am Com Alcohol 28% Com Solvents igh

Zonite Prod ees Hnanoial-

Adams Exp Allegheny Corp.

orp Lehman Corp.. Transamerica. . Tr Contl Corp... . Building— Am Radiator.... Gen Asphalt

13% .. 10%

Johns Manville 122°

| Libby Owens Gls 2.

Otis Elev ... U 8 Gypsum.. Ulen Cons .....

Houschold— : Col Pal Peet.... £3

: 1% . 26% 2714 Simmons Bed ... 45%

Textiles—

Amer Woolen... 8 ' Belding Hem .. 13% Celanese Corp... 26% Collins FAT 57Y2 Gotham [Hose .. Ya Indus yon... 35% Kayser Julius . 26

Che oo Stocks

(By Atkins, Hamill & Gates) * Cc ’ 0.

27% .-101% 3%

Butler Brothers .. Cities Service I Edison eens see e% Consolidated Biscuit °

Sona

Cra Beonomical Drug Electric Household General Household ....c.eocevenenn,e Godchaux Sugar “A” ....... Great Lakes Jarvis Mig Fes iresessan sansa Ken-Rad PT & L ..c.covnven Lincoln Printing ... Lion Oil Refining McGraw Electric Nachman Spring Filled ... Noblitt-Sparks Jai illiams Oil-O-Matic .

enh and at Schwitzer cummins "... NE

New York 7h Curb

(By Atkins, Hamill -& Gates)

sesesccns

“eessnen,

csnee sree s sense

Aluminum Co of Am

Crocker-Wheeler . Elec 9nd & Share........... 2 Fisk Rub

Rubber Ford Motors Canada “A”. Glen Alden (1) Sree Tap & Die Corp gut on Rs Refining ©

BHuyler's of Del fd °° as. ve FRI Inierrationa?, vi TE

. coll:

% Srp 0 Amer... i ‘Hess Boog

Seve seresensesensnen Tees eveRssecsananne

trem ssnssnnsns

[FLETCHER BANK -

CALLS $200,000 BOND PAYMENT

Cash Settlement Scheduled for Nov. 1 by Local Institution.

Call for payment of $200,000 Fletcher Joint Stock Land Bank 4% per cent bonds dated Nov. 1, 1917, and due Nov. 1, 1937, has been voted by the bank’s executive committee, President William B. Schiltges announced today. Payment in cash for the called bonds is to be made as of Nov. 1, 1936, Mr. Schiliges said, and there are to be no arrangements available under which the securities will be exchangable into other bonds. This new call by the Fletcher Joint Stock Land Bank brings the total of bonds payable Nov. 1 to $2,613,600, according to Mr. Schiltges. Previous announcements by the joint stock bank called for cash payment or exchange as of Nov. 1, six issues on whic hthe exchange privilege, now has expired. Besides the $200,000 of Nov. 1, 1917, bonds, payments Nov. 1 are to include called bonds from the following entire issues: , May 1, 1954-34; Nov. 1, 195434; May 1, 1955-35; Nov. 1, 1955-35;

May 1, 1956-36, and Nov. 1, 1956-36.

Eighteen months ago, Fletcher Joint Stock Land Bank officials began a program of interest rate re-

ane duction through calling of outstand-

ing series of bonds bearing 51%, 5 and 4% per cent interest and issuing in like amounts bonds bearing lower rates of interest.

Many Bonds Exchanged

Many owners of old bonds bearing higher rates accepted the bank’s offer and took new lower rate bonds during the $10,000,000 refunding program, according to H. Foster Clippinger, Fletcher Trust Co. vice president in charge of the bond department. All of the new series of bonds issued and exchanged by the joint stock bank have borne interest at rates of 3 to 4 per cent, the greater part of the new paper calling for a rate of .3% per cent, with the due dates running from 1940 to 1945, Mr. Clippinger said. The Fletcher Joint Stock Land Bank, like all other joint stock land banks, is in process of liquidation under the requirement of Federal law passed in 1933, it was said. The organization holds Charter No. 3 under the Farm Mortgage Act, and during the time of its greatest ac-

business in central Indiana and eastern Illinois, loaning on selected farm property only. During the peak of its farm mortgage operations, the bank had $14,769,200 in bonds outstanding and a total of mortgage loans of $15,736,688. Bank officials said today that improving prices for farm products are reflected in improvement in collections of mortgage interest, delinquencies now being at the lowest point in several years.

Investment Trusts

(By Thomas D. Sheerin & Co.) Bid Asked *Administered pund a4 sevies *Affiliated Fund, Cs ssinee American Business s Shares "5

Century Shares Tru Corp “AA” o eho (Mod) . Corp “AA” pet “Acc” {Unm) gor p° Trust Shares {Qrig) g ersified Tru TB. Diversified Tastee Sh “or, *Diversified Trustee Sh “pr Dividend Shares, Inc General Investors Trust .... *Incorporated Investors cess Investors Fund Am sMarket Street Invest Corp. Maryland Fund *Massachusetts nvestors .... Mutual Investment

| Nation-Wide Votin

N Amer Tr Shs 195 N Amer Tr Shs 1956 .. N Amer Tr Shs (Orig) jarterly Income Shares.... lected Amer Sh, Inc... elected Amer Sh (Orig).. 3.96 lected Cumulative Shares. 0 17 lected es 34

State *Supervised Sh, (Del) . Trustee Am Bk Trustee Stand O shares * “A” Trustee Stand Oilshares.B” ‘United Stand Oi *Ex-Dividend.

Unlisted ted Stocks

(By Blyth & Co.) NEW YORK STOCES

Bankers Trust ... > Central Hanover .....

A URAS seve

; feving 0 National City First National Boston .. National Shawmut FIRE INSURANCE 2 Aetna Fire Insurance

anklin Fire ral

aessies eecsssssasssas 13

rea oe, Nationar Libes Liberty : To National Erie

tecosssnsncesenay

S Fire : *Ex-Dividend.

AMERADA DIVIDEND SET Times Special ; ! NEW YORK, Oct. 3~—Directors of the Amerada Corporation have. declared the juarterly dividend of 50 cents a share on the common stock, payable Oct. 31. to record of Oct. 15, it was learned.

ASK IL C. C. LOAN APPROVAL By United Press - WASHINGTON, | Oct. 3.—Co-re-

tivity engaged in farm mortgage

Busigraphs

ca RURAL SALES OF GENERAL MERCHANDISE (U.S. DEPT. OF COMMERCE)

ORP. GENERAL DIST INCORPORATED INVESTORS Sales of general merchandise throughout the rural sections of this country were the highest in August for any August since 1929, and passed a year ago by 20 per " eent. The larger farm | income naturally helped rur es. It now is estimated that cash farm income for this whole year will be 10 per cent greater than in 1935. This means that 1936 should be the best year since 1929 for farmers. Rural sales have gained proportionately more than department store sales. ;

HOG QUOTATIONS REMAIN STEADY

Top, $10.45; Fed Steer, Heifer Prices Advance Over Last Week.

Hog prices on all “classes and weights were steady at the Indianapolis Union Stockyards today, while cattle and sheep receipts were too small to establish a market. Hog receipts were 1500; cattle, 50; calves, 100, and sheep, 100. Top for hogs was $10.45, paid for weights between 190 and 280 pounds. Two hundred eighty to 300-pound weights ranged between $9.75 and $10.30; 300 to 325 pounders, $9.50 to $10.20, and 325 to 400 pounders, $9.25 to $9.75. Lighter hogs ranged from $8 to $10.25, the top being paid for weights between 170 and 190 pounds. Compared with last week’s close, fed steers and. yearlings were steady to 15 cents higher, better heifers strong to 25 cents higher," and lower grades were steady. Steer -top during the week was $10.40, the bulk of better grades ranging from $9 to $9.55. Heifer top was $9.75, and the bulk of better grade beef cows sold from $425 to $5. Cutter grades ranged from $3.25 to $4.

1. [email protected] 2. [email protected] 3. [email protected]

Light Lights—

6000 6000

. 6000 6000 1500

25@ 9.50 Lightweights-— (160-180) Sood » and choice.

Medium We aan

(200-220) Good and cholce.. (220-250) Good and choice.

Heavyweights—

(250-290) Good (290-350) Good

Packing Sows—

{313-350} Sood

UM. ca.escsese

and choice. and choice..

sessesscscsnes

Good (275-550) Medi

‘| Slaughter Pigs—

(100-140) Good a; and choice..

—Receipts, 50— (550-900) Choice Good

re oy

oa 538 8a SNs 8835 883%

(900-1100) Good

Common ...ceseee

(1100-1300) Choice Good

(1300-1500)

®®o 0B pam S300 £3 35% g3ms waa: 00 S30 9985 A009

(550-750)

. 0© Koo

(750-900)

Mam on ano 33 82888

R009 09009

Good and choice.. Common, medium.

Good Common and medium . Low cutter and cutter.

hors aon pasos =3888

ood Cutter. co com. and med. bulk. . Vealers —Receipts, 100— Good a1 and Choice

gs 2338 8 869 OOo g 82%

(250-500) Good and choice..$ $ Common, medium. 4. . Feeder and Stocker Cattle (500-800) Sood and choice $ 6. and medium (800-1050) Goa and ghoios. . Com. and med...

Heifers Good and choice Com. and medium ...

Cows Common and medium ....... SHEEP AND LAMBS —Receipts, 100—

bs— CHOICE «ovvvaiuussnanconins-$

RA-IAR-I

po moe a8 383 8k 8¥sk 8

won

a 22 op 99 an oo 28

“sess ine

Beco umon ssevescorsasavonnen , (90-170) Good any choice. . Sheep and lamb. custom on lS

Commodity Prices

(By Abbott, Proctor & Paine) BUTTER

=e oormo ao 2388 0 08D Ne aamo 8 83888

Close vasainih inns duane 1p EGGS

November .. 32%

Close loss 24%

October ....cocccnvseniieinis 25%

PROPERTY. CALL AND TEREST

-| serious

(140-160) good a and ‘choice. .$ 3 358.000

[email protected]

J. [email protected] « [email protected] o%

. [email protected] [email protected]

l, C. G. FREIGHT RATE APPROVAL T0 BE SOUGHT

Railroads Ask Readjusted Schedules to Replace Surcharge.

By United Press WASHINGTON, Oct. 3.—The nae tion’s railroads today prepared to ask Interstate Commerce Commission approval of a nationwide readJustment of freight rates designed to preserve for the carriers revenues now collected under emergency sur= charge rates which expire Dec, 31. Representatives of major raile

pers and coal producers, announced that the readjustment plan virtually was complete apd represented “the most important single step ever taken toward simplification and uniformity” in freight rate siructures. J. J. Pelley, president of the Ase sociation of American Railroads, said the existing surcharges rep» resent about one fifth of tota! net railway operating income. It was estimated the amount collacted under the surcharge approximated $100,000,000 yearly. The carriers, he said, will ask the ICC to make the readjusted rates, which call for increases in some categories and decreases in others, effective Jan. 1, 1937, “to avoid "losses of much-needed revenue.” The proposed readjustments, Mrs, Pelley said, do not contemplate retaining all of the increases o! the emergency surcharges. “They represent,” he said, “211 ate tempt on the part of the railroads to work out such adjustments, through increases and reductio:s, as partially will offset the decrezse in

place when the present charges ex= pire at the end of this year.”

OFFER CINCINNATI MUNICIPAL BONDS

Times Special ; NEW YORK, Oct. 3.—Public ofe fering of $5,595,000 City of Cincinnati, 2% per cent and 3% per cent bonds was announced todav by heads of several banking groups. The offering consisted of $4,595,000 Cincinnati Southern Railway 2% per cent refunding bonds, dus 1956, priced at 98%, and $1,000,000 3% per cent street widening bonds, due 1938-62, priced to yield from .60 to 2.50 per cent. The Railway is owned By the city and is leased at rental which provided for service of its bonds, it was learned. s

Building Permits

Meridian Life Building. 311 N. Penne sylvaniast, electrical, 00. Realty Co., 113 E. 49th-si, elece trical. $100. Medical Arts Building (State Aiuto Ine surance Cc.), Michigan and Pennsyivaniae sts, electrical, $100 oore and Kirk, 5342 E. Wash ngtone st. elcctrical, 3100 N. beson, Laverock-rd ar Dela ware-st. electrical $100. Bate & Son. 5446 Kenvood-av, electrical, $100 Edward Dalby. 55th and Illinois-it. elece

trical, $100. Roepke Green House Soosevel and Dearborn-st, electrical, $100 . Adams, 2141 Prospect-st, roofing,

Wuslin Building, 222 E. Ohio-st. tor Jepairs, $150. J Lee

0 vator P epales, $ 5 Allen, *5633 Guilford a. stoker, $249, hs Clairmont, W. 43rd-st, stoker, $24! a J. Billon. 1519 E. Tabor-av, stoker,

Dr. Maurice J. Healy, 5547 N. Delaware st. stoker, $249.

elevae

$295. $295. tzelman and Morrison, 20th znd Mee $2 E. Parish, "i344 Winthrop-av, stoker, ." A. Sullivan, 5325 Central-av, ‘stoker, Daniel F. Warran, Stoker, $249 : “$28 > 841 N. Riley-av, 0808 aavter: 2251 E. Riverside:dr, gae wiesl. SED. MI. N. Meridian-st. im B awsiligs. saaon ons eridian-s he 1999 N. LaSalle st, lie Ro Huter, 2310 N. Dearborn-st, res T00f $150. OF INDIANAPOLIS (Successor to The Indiana Law Law School.) DAY AND EVENING CLASSES

Hymon Klezmer, 2038 W. 10th-st. stoker; ri gian_ste, P taner $415, z 901 N. Rural-st, Spitzmesser, Swinn, paint Co., 225 XN. Dela= Carter, Rae ra INDIANA LAW SCHOOL School and the Benjamin Harrison 3d Floor Stale Lite Bid » Indianap-

Start October 5

Those who are definitely prepared to meet the requiremeriis a modern business procedire e finding a genuine demand for their Erie In addition he new positions present of improvin tions, many opportu created through the prometics and advancements w)

‘women are sieing this Zita ing dL

ation and prepar£17. This ie Tine

Indiana Business College

E. Butz, Preside

ad courses and quoting ng tuition

C. nearest or Fred W. B.S pores vou.

Central Business Colles

Architects and Builders Bis. Pennsylvania & Vermont Sth 4 Indianapolis

WE SOLICIT APPLICATIONS FOR FIRST MOET. GAGE LOANS ON PREFERRED INDIANAPOLIS

SEE US ABOUT LOW IN.

LIBERAL PAYMENT

roads, after a conference with ship- °

Cicada Ni SS SG GR MSL CN J TOR Gb 0, ALI GN SE AG Sa PS i EN

revenues which otherwise will: take -

Co., 241 W. Georgia-st. eles | 600.

Moore Heintz, 5419 Central-av, stoker,

BINS i