Indianapolis Times, Indianapolis, Marion County, 23 October 1936 — Page 37

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Five Hours Enough

PAGE 36

FRIDAY, OCTOBER %, 193

Ine. and

n Airlines

ed 3 given today by Acting. Postmaster por: Harllee

Branch. The new line is to vania-Central Airlines Corp.

be known as the Pennsyl-

for Speculation, Flynn Thinks.

BY JOHN T. FLYNNeeee

“YORK, Oct. 23.—~The New : York Stock Exchange wishes to lengthen its trading day by another hour. The market opens at 10

in the morning and closes at 3. The _ hew plan would open it at 10 and close it at 4. Thus, while the unhappy working man struggles to lower his working hours to the six - hour day, the equally unhappy stock broker yearns to increase his to the six - hour day

Why not let them do it? Well, there is a sort of suspicion Mr. Flynn that while the 2 ordinary working man is working he is producing ‘Wealth, but while the stockbroker Is working he may be actually - destroying wealth. Of course, the - broker indignantly resents this © imputation. Without him, he in- . 8ists, the capitalist system could * not function at all. And so now he wants to work another hour. ~~ What reason can be assigned for ~ the change? Of course brokers are * interested in speculation. Naturally - they believe more speculation can be crowded into a six-hour day ~ * than a five-hour day. But has not * the five-hour day, upon occasion, : furnished the country with more * speculation than is good for it?

» » ” OMEHOW we managed to pack into the five-hour day all of “that vast bulk of speculation of

% » “. * a % 4

ESTIMATE FARM

New York Stocks

193 INCOME AT $1,850,000,000

Department of Agriculture Annbunces Figures; Gain Over 1935.

Times Special : WASHINGTON, Oct. 23. — Farm cash income from sales AAA $

and payments probably will reach

850,000,000 in 1936, an increase of | &=

760 million over last year and the highest since 1930, according to the

riculture. In spite of drought-reduced sup-

of 1936 and early 1937 probably will show a moderate gain over last year in line with higher consumer incomes. cent over last year, the Agricultural Outlook says in its latest issue.

ence Board estimates that with supplementary income received by |B farmers for work done off their farms, bonus payments received by farmer veterans and drought relief payments will probably increase the flow of income to farmers in. 1936 and the total intome should ap-

Outlook says. Dollar Volume Gains

farm cash income, the review says,

Mc United States Department of Ag-

plies, farm income during the rest|y

Farm. prices now are 16 per | Auburn “The National Industrial Conter- 1} Hudson

eq Studebaker 1 Yellow Truck ...

proximate nine bijiion dollars,” the Ee

Keeping pace with increases in |Timk

(By Thomson & McKinnon) 1 Low A.M.

& >

a fed

Busauy

serge utp BER REE &F

oS3S ; ge ot BE

bei] =

ERA

nod LOWES

Bis 23

—- Prk ST chtIon oe ow SRR ea ate

Motor Access—

2I52203S S22038s FEFEFFRS

SRT irs CF

FEE

Prev.

8 Brae NepIys Mee

i Batam Sra TaTNe SESS

thi a Cl Eo. PE & Pink Un Drug (new) . Zonite Prod .... Financial Adams Exp

Er |

Duiiding—

V 5 I33 Aldo] 3

fk i

Proc 8 Basic’ 3 s Bod ... 4%

T 0 an rp: 28 L Hose 18%

Ind : Real” silk Silk wes 13%

Chicago

mer W Celanese Collins .

gi acturing.

i CL Pe Sef xg

4 3

whi

wi sen 2

Ee # GRBGa 85a 35

"eo

§ Stocks

(By Atkins, Hamill - Gates)

| Noon, wh 1

11 1375 to $9. Slaughter sheep sold at

| PORKER PRICES

5 wt is;

= a

Ca IESE

2 § : E

‘were active and steady to strong.

* sold. upward to $9. Beef cows were w772 | $4.25 to $4.75, with the cutier grades 8 8683.25 to $4. :

{thie bulk of the better grades selling

| steady on supply of 1500, with the

HOLD FIRM ON

and Lambs Steady;

. | 190-pound class were $0.45 to $9 * Ithose of 186. to 170 pounds brought $9 to $9.55; 130 to 156 pounds, to. $9.25, and 100 to 130 pounds, $ 55 to $8.50. / : Cows, especially the cutter grades,

Other killing classes were in 8 very limited supply and nominally gteady. Receipts were 500 cattle and 500 .Qdd-head- yearling. steers:

‘were generally stéady to 50 cents lower, with

around $10, top $10.50. . Sheep and lambs were generally

bulk of the better grade lambs at

BRISK DEMAND

Cow Market Active; Sheep :

PEF

(Reprinted From Late Times Yesterday) DAILY BOND INDEX ave average equals 10)

less

EF g >

Sssavibennnacee sadbevisesbees ay Beals snnsenan

Teese bisnnna

Tk od ft fet

rte 1062 1 Tpit i Savant See, sens i 1 A 1033 Home Owners Loan Cop.

Ik fk pod era aS

th Stee 1 i] J Miw & & St r bs -'75

21 | Glove Un Term 1 Citve Un Jemm ay MT odie, 104 ol Gas 5s “1 Col Qs 5 s “April BT iain 14%

‘87 ph EF we Northern “ig 4s dB Grt Northern “H' 4s '46. ot Northern 4l%3

Ill Cent 43s ’66 Hl Cent gt As n-.

Interntl Tel & Tel 5 Interntl Tel & Tel is 52...

“routs 19 104. 10833

senses eme sesesss . oa

St PE

104%

i i en Stl. Cast WW is "49. ven 93 Hud & Manhat 5s '57.. 81

INDEBTEDNESS BEING REPAID BY RAILROADS

President of Corporation

Reports 60 Per Cent of Loans Met

Times Special NEW YORK, Oct. "93 More than 60 per cent of the leans made by the Railroad Credit Corp. to varie ous railroads to enable them to

1meet their fixed charges, have been

repaid, E. G. Buckland, president of the corporation told the board of directors at its annual meeting here late yesterday. Loans to railroad companies oute

1*'| standing as of Sept, 30, 1936, Mr,

Buckland said, totaled $28,382,168, compared with $73,601,368 originally loaned. ‘During the fiscal year ended on Sept. 30, 1936, outstanding . loans have been reduced by $21,388,457. Twenty-one of the 53 original bor= rowing railroads have made final settlements with the corporation. Of the present loan balance, $23,208,304 represents notes of 17 borrowing

2 | carriers in receivership or trustee-

ship, while the remaining»$5,174,134 represents notes of 15 solvent car riers, he said.

Distributions Made

As a result of repayments of loans by various railroads, the corporation has made liquidating distributions to . participating carriers totaling

7 4 $47,801,902, or 65 per cent of the net

contributions. Of that amount,

dollar volume of sales in small towns and rural areas, taking into account the time of year, has mounted to a new recovery peak. September sales were 18 per cent higher than a year ago. For the first nine months, sales were 13.5 per cent|int Nickel over 1935. Isl Creek Coal . These gains, the ‘Qutlook says, are E reflected in increased agricultural implement - factory pay rolls, fertilizer sales and other kindred industries.

Alaska Jun ... Am Metals Am Smal Anaco Cal £on Hecla Cerro De Pasco. Dome Mines .... 5 Gt Nor Ore . 1 Ins Copper

3.25 down. : $23,235,442 has been in cash and

$24,566,460 in credits. In the fiscal year just ended, 13 liquidating distributions - were made k to carriers participating in the ‘Marshalling and Distributing Plan of 1931, aggregating $22,045,929, or 30 per cent of the fund. Of this amount, $11,3; 870,156 was, returned in cash and 810,475,773 credited: on obligations to | the corporation, Mr. Buckland declared. A further distribution of $734,966, or 1 per cent, will be made to participating “carriers on Oct. 31. Of | that amount, $379,605 will be in . cash and $356,361 in credits, he said,

GROUP INSURANCE ADOPTED Adoption of a.plan of co-operative group life insurance by the Eldon Hat Manufacturing Co, | through John Hancock Mutual Life Insure

ae Sst ansnetos 4

“the twenties which helped to esssssens 18 4

bring the country to the verge of * "ruin and actually did bring mii“lions of investors to ruin. There is another powerful rea.son against it. The Securities and “Exchange Commission has, up to snow, made -very few changes in - the system in Wall Street. It has * + been studying segregation, margins, sover-the-counter markets, various other subjects, There are many _ smore for it to study. Among them is a scle exploration of the ivery business of speculation itself. : Does it aid business and society?

‘Does it hurt business? If it helps, BE BUILT IN JAPAN es ; how much of it is helpful and at : | ARSE & Of America.

98% 4 what point. does it become harm- H in 8, 108 Am. Gas and Heciric

Nickel Plate 428 '78 Top. Nickel Plate Sls 'T4....... 98 108% $10.38 Nickel Piass 10,10 10.00 10.00

: Receipts: 2000

Bulk. 8 [email protected] .

5 8G10.20 0.10

8000 21. 8 Se 1: a - 5500 23. - 9.85 6000 : 5.056 9.85 8000 ' Ro ht Dights : 140-160) Good and choles. 8 1523 Me dium 8.00 @ 9. rH Lightue

iid) Go Sood and sholer.

ac 6s 2047 . Nor States Pow- 58 ‘41. New Orleans Term 4s '55.,

Sgro

BOO COM BI rt ILD

U 8 Smelters .. Vanadium 2

Amusements—

Crosley Radio .. By United Press

. KENOSHA, Wis, Oct. 23.— Oharles W. Nash, chairman of the board of the Nash Motor Co., today admitted that negotiations have been under way for the past two nths for a merger of his $35,000,000 automobile manufacturing firm with the $18,000,000 * Kelvinator Corp., Detroit refrig- . eration manufacturers.

& szis 2 0° 989

choice.

PRs a, Good and choice... )) Sood and choice. .-

f —— i ' New York Curb (By Atkins, Hamill & Gates)

Packi Noon = 85% -

Radio Corp .... Paramount ve Warner Bros .. Tobaccos— Snuff

Rs a

133

WD:

ft 3 a33

Su Lorillard YO Reynolds Tob “B” sts Arkansas ‘Natural Gai “a”

Bower r Roller Bearing .

“ed £5

Times Special CHICAGO, Oct. 23.—A contract

i VE en

te 8® Rails

Atchison

~ “shelpfulngss, or

“HE one excuse which the SEC .can make for not having done ‘ ‘anything of importance as yet is . : that’ “it . neéds * further : time - for study. If that is so, then this ques“tion is pertinent. If the SEC has : “not yet made up its mind on the 3 harmfuiness --of -=speculation, or how much is good for - us or how much we must have “before it becomes harmful, what excyse could be given for permifating the Exchange to adept a new “designed to enlarge. and inthe facilities for speculation by lengtiening the speculative day. : the - Exchange to Jengticn speculative day - at this time would be a public declaration by -the Commission. that what we need is more speculation.

ERY

calling -for the manufacturing of

was signed today with the Japan Air Transport- Co, Tokyo, Walter H. Beech, announced today.

company’s engineers is to depart for Japan to assist that country in their construction, Mr. Beech said. The corporation has delivered duras this year and present bopk: New Zealand, P Rico, Australia, Canada - and and, business of the company this year includes deliveries of 36 planes to 17

airplanes in Japan by the Beech 2 Aircraft Corp. on a royality basis, | Sb

h eorpopation® president, | §

planes to Japan, France and Hone {M

ings call for Shinents to Argentins, IN

80% Atl Cst Lines $l & O.

Within a few ays one of the Erie

Domestic { Benn. RR

Creole Pet. FRorD

o | Pisk Rubbe

i | Ford

Motors. ‘Canad Giuenflield Tap and Gulf Oil, Penn Humb!

Lon ot

Mueller Brass re MEE Co Airways Penrecad Corp. Pierce Governor

T'S. seve

A deh. be

Electric Bond and Share A,

, 1 3 Niagara ‘Hudson Power

gist oe

Veo 2 “3

Chicago Grain i |

: —Receipts, 500~— Chote Good

(550-900) a © Pest (900-1100) ‘Medium . - Co (1100-1300) . A . - Go Said iveiefiv

Medium . (1300-1500) Go

sess ensnses

—

"i ly RIDE

dnzyan 22h ahaha bobibiaoiatan gx : 959368588 © COPDOINVOINOD

(550-750)

Sommon. hoic and .c ‘Common, ‘med hace’ «

Sn bbo NON

10d Common and medium. ow and cutter. ve

Soc AAA

—Receipts, es Ciood and choice oh ER

“ese Heb ENe eb vs

pany officials ‘announced today.

{%in, Inc. ‘of New York and Illinois, | agers.’

STOCK To BE OFFERED

Times Special ~~ | CHICAGO, Oct. 23.—The United Stockyards Corp. is to offer: for sale 310,000 shares of no par convertible preferred stock and 224,000 shares of $1: common ‘stock on Oct. 26, com=

“Underwriters are to be John DeWitt, Chicago, and Bond .& Good-

who are to act as syndicates man-

Warner Bros Se '3 Western Union ve Youngstown S. & Sp 4s Youngstown 8 & T She bei

Argentina A 6s.’ Australia hi 56

-| Denmark 4/28 ’85 German 5%

ome 6l4s '62 ... Tokyo City Bus. 81. Yokohama 6s ’

ance Co., Boston, was announced

7 | today: by George Weiss, secretary

5 '60°

FOREIGN

‘| Bareback

and treasurer of the hat firm.

* Produce Markets

(The prices quoted are paid for stock gathered in the country, while for delive eries in Indianapolis, the prices are 1 cent higher. Each full case of eggs must weigh

pv | fhe gro No. 1 strictly Jres loss off, 250 oe eavy breed hens, 5 Ibs. and over, $5 under 8 1bs.,”12c; Leghorn breed hens, heavy. 9c; . colored springers, under 41 “1bs., lle; yer. 13¢; ‘Leghorn breéd spring. 1bs., i0c; over, 12c. Leghorn breed spring 8 Pihgers, Eo reed, De Ducks, full | ec.

3p ‘B83

satiiered, 1% Yogi 3B The: “No.5 2

Butter—Cream gry. Bu eat ‘a0c,

EIR Ya @92 he,

OPEN ST hBay NIGHT TILL

(By James E. Bennett & Co.) Ye

Wheat High Dec. ig 1a 14, Mi: wie 1.13 July cane 408

31s the SEC prepared to proclaim

~ithat discovery to the world? (Copyright, 1936, NEA Service, Inc.)

AWARDS TOTAL GAINS

: NEW YORK, Oct. 23 Oct. 23. —Engineer- : sing awards totaled $26,765,000 for Ss the latest week, Engineering News Record shows in its-latest issue. Of this amount, private work was $10,664,000; public, $16,105,000; Federal, $3,077,000 and state and muS nicipal, $13,028,000. Corresponding i sures a year ago were $21,972,000 $4,580,000; $,307,« $14-

ev. | Cull and medium ..sv.. 5

Mi lose e Calves : . 114% £350,500) ‘Good ‘and 4 . 1.13 Co mi Aum 98 89’ Feeder and Stocker Cattle i ol ; onan Good and hoje: 4 4.00

(800-1080) : Go d oi dha thee de e

an 4 Heifers—

oo ik Good d 1 iva 4038 4 gos Ale S3Eed” ye meds : y ry CL Cows

“ Lk

| States and the District of Columbia.

; ee Am Local Securities |= (By Indianapolis Band and Share Corp.) The following “quotations do not represent actual bids or offerings, but merely indicate the. appro ate market level

based on buying and selling inquiries or recent transactions. .

BONDS

- 969 P03 09939 88: 323 88333. BEgNe ESvNsgEYIRE

oh ood

RET Cpl

: sil;

Sz-Sgek

‘Sig. ... 4% Fullmag Jue “ae 61a West 158 Westingh Heo. 148% Utilities—

Am & For Pwr. - 7% Am Power & bo 13 4 T & E23

ane

(Bid Asked 103 104% 105 106 72%,

Good -. 8 : Common’ and “Hedin”; “i ~—Receipts, 1200

1 Nn avon “iee

Citz Ind £8 (TH) fs ‘81. H Tel Tel

Comm '% Sou...

Bree ne & i

Int Hydro. Interbar Int > I Lou o & E ‘A’l. 29 Nat Pwr & Lit..

(a)Asked, (b)Bid.

LOCAL CASH MARKET 12 ity grain ‘elevators are paying. 3 | $1. Yor No, 1 red wheat. Other on thelr merits, Cash corn| new No. 3 Yellow, ote; ta, 300” or. ‘clover, [email protected]; No. 1 alfalfa, first cutting, $6018.80; second cutting [email protected].

Building Permits

60 W.' (add, stoker, $426. pe uw J. Haight, 145° fa) .Creek-bivd,

489. CE. Sarr, 3085 ‘Carrollton-av, stoker, a Hagel C. Heran; 828 ‘Nu. Bevillteav, stoker,

900 0 y Phillipps, ° 3 440. ‘Boulevard-pl,

stave, Tso. * 80. R. Wald, 1223 Union-st, oker. ir do,

Pred yeh, 5626 B. Oe obit Moulder Co. 1815 Madison-av, | Gud on "| Edison Iilum Boston 3% A gg.

er. og) Stokes, 13s Central-av, stoker, Gen Motors Acc Corp 3s "48 102 ick, 17 8S. Denny- stoker, $280. | | 4 a ; 2% Ea : . = Ne. : i i Bo Xurnitate Bre Gos” 5 '66 5 | 3 ge 2 Cs : :

fo The SE RVI CE--"The grea test value that J ys aE walks in shoe leather.” Such is its eet va = nian reputdtion, and it is well founded. The SERVICE is from a man who devotes himself to FINE footwear—a qualityminded man who gives these oxfords a certain look and standing—that- is new to the “five dollar field.” "x

be REVERSE XC ALFS i in the leading lasts.

Muncie Water Works "85 . oy’ Tis Noblesville H L & P 6%s 47. 1002s Sh SS a 100 Richmond W W §

T,H Trac & L 55 "44 H Water Works 53

” sess

Public, $17,302,000; Federal, 000, and state and municipal, 085,000, it was reported.

~ § PLATINUM PRICE DROPS : if Times Special 8 NEW YORK, Oct. 23. — The “2 platinum metal price has. dropped to $50 an ounce, Standard Statistics Co. reported today. This contrasts with the peak of $70 an ounce in + mid-September. Ind Hydro ite

Dividends Declared Taps Gos © Dividend rates are given in dollars and | ;Indpl Pwr | cents unless stated otherwise. oil In is Water Oo bo Rate Per'd Payable nd Pu

. 25 Q Dec. 15 .50 ext Dec. 15 ‘2.50 Q 5 08}

- (90-170) Good. and ice. m. an a | puller and lamb q tions

New Bond Tones.

i : 31 By “Hin 781 Want Co 35s. 168. 4. il Te 13 rocxs

ABC Brewin 5 Railroads $ ? 8 %as’e t Railroad & Stk Yds Pra. "56 Son Ind Pwr pfd 7s 30%;

Bo Cal Edison, gione, & Srenster ga Gis s Bu hs Fg lt a 03° oats. 037

Western San Ask ; % 100s 24% 1 a a it i

a - 101 ‘98 . 00:

Goodrich S Rubber 35 U S Rubber pfd. 89 Miscellaneous Allis Chalmers . Am. Cal

Rubbers— ‘89

“Ing . Dien 4% Co

*Ind_Gen. pe.

fe i dy Sa a iw

841; ve 1 tation ge ight 103% wi

Chicas & a - Sum Tob. wan edit 3%s 51 “Bk of Toronto. Dec. Gentlivre WA. .. Dec. 22 - Do B . Dec. Jan.

Southern Ind 15 Te

rre Haute Union Title Co *Ex-Dividen:

Investment Trusts (By Thomas o. Sheetin & Co. Bid. Asked.

1 | Administered Fund nq ee 18.91 Affiliated eg

FH Buelise

Zxs a

» - Ge Fee i

HSE bid, a

gos

ak ad

fh X a % & Dr as oo arr Elec 3 i 8t Tous de ou.

she $

Ln ih ue, LE

Per Beta nd Ea is’

P Do § 8 pfd .. 1.73 Be, Drg A... 90

gous,

wruB8E..5 SshvEasast hngks eo s

« Thust Shares (orie higied)

418 d irk k vers Be EEET ividend Shares. | Ing ..ob. 0d

2 General Investors *Incorporated a Investors Fund Am 29 | Market Street Investmt Corp 34.48 . Tn Fund 1017 usetts Ines 14

Investmen nd. TN -Wide Voting 215 American Tr Shs 1958. 3,76 - American a a 1956. 3.7 er of 383

ae an

3 33

woxes

Ot pl ht pt

nen oy

1600. J. J. A 3054. Washington-bivd, al- _ Mrs. Pearl Janeway, 1245 8 ‘Sheftied-av,

It ft Bt NADI O®

| NANKING. BUILDING U

By Soripps-Howard Newspaper. Alliaute

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