Indianapolis Times, Indianapolis, Marion County, 29 October 1936 — Page 22

» Whose currency is involved.

PAGE 22

THURSDAY, OCTOBER 29, 1936

e 1pPre $43,863,000 in weeks, the National Association of Mutual Simp Bank has announced. The distribution is to be made to about 1,063,500 depositors,

Flynn Says. JOHN T. FLX

N=" YORK, Oct. 29.—1It is now about a month since France devalued her franc and the United States entered a quasistabilization agreement with EngJand and France. The very next day Secretary

of sterling. This he characterized as a raid, from which he saved the pound sterling Mr. Flynn by purchasing ; the amount offered, but only after the pound had been driven down to $4.91. Since that time, however, the pound has remained at that price, though there have been no Rus- * slan raiding parties. In fact it ~ has dropped as low as $489. The ' franc, which was finally brought * down by devaluation to 4.66 cents, has fallen to 4.60 cents. And it has ‘ been showing unmistakable weak- * ness. This is natural and was to ~ be expected. The whole incident helps us to " Burvey what has happened and * Btraighten out our ideas about it.

= » =

URRENCY instability can come : from two sources. Essentially there is but one source, namely uncertainty as to what some particui lar currency may be worth tomori Tow or next week or next month. But this may arise from two sources. It may be the resulf of a deliberate policy by the nation

That is that nation may, for its own reasons, be committed to a policy of a fluctuating gold content of its monetary unit. This was our course, The other cause may lie in t the credit of the nation involved. Its monetary unit may change from _ day to day because of the difficulty of its business world or government to meet its foreign obligations or because of economic disturbances, ete. Now when we entered an agreement to join with England and France in a stabilization agreement, what did we agree to do? We might agree on three points. (1) We might promise not to further tamper with pur own currency. (2) We might agree, in the event our own currency showed weakness, to use a stabilization fund to support it. (3) We might agree, in the event of the currency of France or England showing weakness, to use our stabilization fund to support those currencies. » ” n is a sound thing to promise, within certain limits, not to tinker with our own currency fur- ~ ther. That part of the agreement © is sound. Perhaps it is defensible to agree to use our national treasury funds to support our own dollar, to keep it from sinking. But are we to understand that the agreement includes using our treasury funds to support the franc or the pound against weaknesses due to economic disturbances in those countries? Apparently the agreement does mean this, because Mr, Morgenthau rushed to the support of the pound on the very first day of the agree-’ ment. He felt the pound’s slump from $5.02 to $4.91 was the fruit of an attack. Yet it never rose above that and is now lower. Further, the franc shows great weakness due to the profound economic disturbances in France and, for that matter, in

Europe. If the Treasury intends to use American Treasury funds to support the franc against economic disturbances there, the fact ought to be made very. clear to Congress and the people. There might be a great deal of vigorous objection to that. The losses to America might be staggering if the promise is EP ria. 1036, NEA Service, Inc.)

ye ——— 1_ LOCAL CASH MARKET ; City grain elevators are paying $1.08 Tor No. 1 red wheat. Other grades on their merits, Cash corn new No. 3 Jeuew. 94c; oats, 36c. Hay-—No. timothy, [email protected]; Ne 1 No [email protected]; No. 1 ala, first cutting, [email protected]; secfa Putting [email protected].

Chicago Grain Futures

(By James E. Bennett s Ceo.)

100 Prev. High. low . M. close

_ pe al et ft : eC.

BE 30% FF

rr rE FEF 232 os FFE FFE 282 8 FEE #

kes Ren PLE voy

B23 Ei ¥ & nd

¥2 B F

. 22 FE ras 4

MB sist sinanenn ras Taatnne

. Char RARE IRAE ERs N esa re

oaRs PLAGED IN SERVICE REACH RECOVERY HIGH

Rail Association Announces | com,

Total of 27,178 for First 9 Months.

Times Special WASHINGTON, Oct. 29.—Surpassing any other corresponding period since 1930, Class 1 railroads of the United States placed 27,178

new freight cars in service in the ]

first nine months of this year, the Association of American Railroads announced today.

The total compares to 3172 cars placed in service in the same period in 1935 and 19,109 cars in 1934, the association reported. In the first three quarters of 1930, 70,083 cars were installed, it was said.

New locomotives placed in service in the first nine months this year included 59 steam and 21 electric and Diesel engines compared with 28 steam and 101 electric locomotives installed in service in the same period of 1935, and 14 steam and 12 electric locomotives installed in service in the first nine months of 1934. In the corresponding period of 1930, 632 locomotives were placed in service, according to the report.

Class I railroads had 19,337 new freight cars on order on Oct. 1, this year, compared with 7441 cars on Oct. 1, 1935, and 5495 cars on Oct. 1, 1934.

New locomotives on order on Oct. 1, this year, included 50 steam and 16 electric and Diesel engines, compared with 14 steam locomotives and three electrics on order on Oct. 1, 1935, and 37 steam and 104 electric locomotives on order on Oct. 1, 1934, the association said. .

New Bond Issues

(By Lyons & Co.)

Allied Shares 5%s '51 Arkansas Gas 4s ’'51 1 Associated Telephone 4s 65 .. Am Te & Tel 4%s '61 B & O 4's '66 Beth Steel 33%s ’66 Cal Ore Power Central Maine 4s '66 Central Maine Power 3's 8... Central Ill Lite 3%s 66 .. Cincinnati Gas & E 3%s '66. Chicago Un Station 3Y%s '$3. Cleveland Tractor 5s '45 Commercial Credit 3%s '51.... Conn River Pr D & L 37s ’'61 Cudahy Pkg 3%s ’55 Cudahy Pkg 4s '50 Edison Illum Boston i Gen Motors Acc Corp ‘46 Gen Motors Acc Cofp Iles ‘51. Gulf State Steel 42s ’'51 . owa South Utilities 5%s ’66.. ndpls Water 3'2s '66 Kansas L P 4; 5'65 . 10 Los Angeles G & L 3% 0. . Louisville G & E 23 "68 ....10 Metro Ed 4s '65 Minn Gas E & Dr 4 Nal raganses: ig Sas "86. , NY i St Louis 4s '46 Pacific Lighting Ses "45 1 Peoples G & E Lite Wks ’61.. Penn Tel 4s '60

Ask 300 Ya

01 107% 02

102%

102% 109% 1063s 103% 108%

981%, 107% 1067

110%

Southern Kraft Cas 48 Union Pacific 3s '70 Wisconsin Gas & Elec 32s ‘63’ Wisconsin Pub Serv 4s '61..

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

Alissed Sn a Shares ... Broad Street Investin, *Bullock Fund Ltd Gorn A Shares A' or ‘Accum’ (mod.) Corp ‘AA’ or ‘Acc’ (unmod.) Corp Trust Shares (orig.) ... Diversified Trustee Shs ‘B’. Diversified Trustee Shs ‘C’. Diversified Trustee Shs ‘D’. ividend Shares Inc ......... 1 General Investors Trust ....' *Incorporated Investors nvestors Fund Amer arket St Investment Corp. aryland Fund [assachusetts Investors utual Investment Fund ... Nation-Wide Votin, 2.15 North American Tr Shs 19055 3.74 North American = Shs 1956 3.69 er-Tr Ss {ori 2. *Quarterly Income She th ected Amer Shs In

elected Amer Shs ected

ected

Shares Finis Street Taw Juvest Corp. s In Trustee Am Bk

.12250 e (Det)... 14.81 1.12

Standard Oilshs ‘A’.. 7. ied Standara Shisha 3: . 6.13 naar Erdos URES 4«-. 1.11

Fruits and Vegetables

sed 0iations. below; subject to change average wholesale prices bei to 3 ® local commission “det Seted 11

$3. Florida Avocado 2-18 n D’Anjou, fancy (100s ananas, selected, Tb, New York Wealthy, 2% SE Bh A na Delicious. 2% inches up, $2. 25; No. 1 Virginia Jonathans 360s, "ato: 4Bin $050. “Timor apmcist Lime exican, carton 12s. 20c; Persian seedless, 34s-113s, box, $2. Gra Michigan Concords, 4quart basket, i California b Foipetors. 28ho TR

. crate 1. berri Blacks 35-10. p Dox. 88 C. Early MELONS—. nd

She foc: » Honey Bows. He RGET TABLES Arti t

oz. box. $3.75. Bi

Cal., box. $3. NS California, 5Ly round sttingloss,

wn, $3.50; bunch, drum, $2.75. . arrots

11sMam-

Egg Plant, home bu., $1, Kale, home grown me grown. bi. oe California best, 4s-5s, $3.35: leaf n, 15-1b. basket, $1.25. Endive,

Sage. doz., 45c. se. Sauash, ann : % bu. basket. 85¢; bu.

Cates ananes

tal Chicago .+..ve....

irs iannbsnene : 3 srsesass u

104% | K 104

3 Westingh Elec

13-pint ed, 12s, |”

New York Stock Exchange Prices

Oils—

Atl Rig Barnsdall

¥:35538 ee

oS Nel 3

NE SS

> &

SR8LAESER

Fr ge OF

28 #

AASBLERBRE NLR .

NY -3

®OERRR

1 Otis Steel 1 Rep Ion & 2 Steel 54%

IPRZIWEGIua SH

= ah FREE

s he 76 ¥ 8 Stee) dba: 149% Warren Bros 9Y4 at

Youngstown 8S-T 85 Motors— 32% 127%,

Chrysler 72%,

Gen Motors .... Graham, Mot ... Hudson ‘ Mack Truck .... Nash

32 o a

eo Studebaker Yellow Truck ..

Motor Access—

Elec Stor Bat . Greyhound ‘B’.. Houdaille Murray Body ... Stew Warner ... Timken Roll Timken Det Axe 2 Mining—

Alaska Jun

Cerro De Pasco. . Dome Mi «nf Gt Nor Ore .... Howe Sound .... Ins Copper .... Int Nickel Isl Creek Coal... Kennecott Cop.. 56 McIntyre Mine. . Park Utah Phelos Dodge .. 4f St Joe Lead.... 23Y Vanadium

Amusements Fox Theater..... : Toews Inc 5 Radio Corn Paramount RRO . Warner Bros... Tobaccos— Am Tab “A”.... gen Cigars .. av, Tier & My “B" 1hasy Torillard . . 2% Reyn Tob “B”.. 57% Rails— Atchison Atl Coast Lines. B & 0

’ ae Mo Pee nid... N Vv Cent 487 N VV New Hoven 4Y MY Ont & West Bag Norfolk A West 37814 Nor Pacific. 20 Penn R 7 Sou Par ... Sou RR ...... Tinion Pae Am Car 2 Fdy. Am Steel Fdy . Rald Loco fen Am Tk Car Gen Wien i 4

a 1441, ey A 7 m Oar 8 > Ar or vi 1" Am Wat Wks .. Col Gas & . 19% ' a

.. 48 . 16% 45, CT.) 12% . 12% . 1915 . 22%, . 29

. 4R1,

311% 54

19 ats 5% 23,

93% . 30% 25

ld Gas Stone & Webster Taited Gos oe. ibe Pur & Lt (A) Western Union. . Rubbers—

ar 8 Rubber.... 337% U 8 Rubber pfd 89% Miscellaneous— Allis Chalmers. e:

Crm . Cuban ty Sugar Gen Baking .... 17 Gen Foods

Purity Bak. ciel 17% § Porto Rico Sug 29%

(By Thomson & McKinnon)

: an ig

885 SESE

het wi

HSnaERg =

Be »

o BIT SETEEd

Am Tei & Te 5%s ’ 1 Am Tel & ’6!

Std Brands ..... 17% 1% t ... 718

United Ward Bak ‘B’ .. 6% , Retail Stores—

17%

: 8 gk

Aviation— Aviation Corp Boeing Atrerai. 21% Curtis Wr Curtiss Wr (A) 1 Douglas Air .... Nor “Amer AV...o , Ra Niro t new 23% Chemicals—

Air Reduction.. 78 Allied Cnem .. Am Com Alcohol 323% ‘31% Col Carbon ... -- 153 gt Com Solvents 13% 3

on Math Akal > Monsanto Chem.

Sehesiey Dis (new).. 29

BEE

Coty. a csssesen Bs

Lam Lehn & Fink Un Drug (new).

% i

Adams Exp . All 4 Transamerica.... 14% Tr Cont] Corp.. i0 Building—

Am Radiator ... 22% . Gen Asphalt ... 25% Int Cem

ol Pal Peet ... ‘ongoleum fel ina

ator roc & Gamble, .

Celanese Sorp oe lins Aikman Se Hose ae Indus Rayon ... Real Silk 1

BUILDING CONTRACTS AWARDED 37 STATES

p , Prepared Adminstratve and Research Carporation- New York

E Residential

A Non-Residential

- Public Works and LUthty

- OO ©

NW Ss Ur» ANTIINNTRNNNN Nr a —

Average Daily ‘n Millions of Dollars

- o

Neer 19 35

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JFMAMJJASOND JFMAMJI JAS

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7 Se

1936

New York Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) 20 20 20 60 Inds. Rails Util. Bonds 2.8 989 105.6 99.1

1936 Low © 90. 84. 3.5 93.3 (Copvright, 1936, 2 Somer O Catistios)

U. S. GOVERNMENT BONDS

«By Abbott. Proctor & Paine) Treasurys . Prev. Close. Jigeeiia. 3

4%s 1947-52 .... 4s 1944-54 .. . 107 .2

2% 1956-60 .... Home Owners Loan Corp. 2% 1942. 44 lb

3s 1849 3s 2%s 1049 ..

DOMESTIO Today's: Bond Leaders—

Close, Allis 5 gs. '45.. Aver Ro ar LE §%s, 45. . od a ree 32

iresenny 1335

Alleg Corp 58 "44 ............101% Alleg Corp 58 '49 . Am Frgn Pow 5s 203

101% a ou | Ms

vesoenss 11 112

2 Atl Coast Line 4%s '64 . Am Rolling Mills 4Ys "45 . Bait & & Ohio 5s 2000 alt Balt & Ohio Buff Roch v Fit 4308 57. Beth Steel 4Y%s '60 - Ch ilw

x Gi 9 4 4 a 89% gi

SSE reves viscaneve 81%

“ereveananed

4s 768 ckel Plate 40s "78 '...v..... te bi CT eae. 108

29 (oid). ns

Soot, Petroleum .

Texas Pac 55 "19...00000s., Texas Pac 5s 77 Third Ave Adj 5s ’60.. Union Pac 4s ’'47....

3. Western Mary 834s 7. Western Union § 5.50 oo 1H Youngstown S &'T % Youngstown 8 & T 3s Yi et FOREIGN

Argentine A 6s *57........0... 101 Australia 4'2s ’56.. ve Brazil 8s 41 Canadian Govt 4s ’60 . Denmark 21as 88.1 00i000nn., German 5%8 '65......0000000 3B German Ts Sao. sas Ens nse e te Italy 78 °51....... 3 Japan 6Ys 54... Poland 1s '47 Tokio City 5%s '61

Chicago Stocks

(By Atkins, Hamill & Gates)

Adams Manufacturing . Allied Prod Associate i . Bastian Blessing od Bruce Ls Butler Brot Central ir Publ Service. Cities Service SER Bison

Noon, 19: ... .. 38%, 24 . . 81% !

Mid-West % 5 prefe red . P13 -West Co efer “aes Noblitt Northwes sk St Stockyards Standard Dredge ‘preferred . oe Schwitzer-Cummins Products

New York Curb

(By Atkins, Hamill & Gates)

Aluin

A Am Gas Am 2 1

Brown Forerian Sooper Roller Bearing

Imperial Oil : us 2% Joiemational Vitamin ....... 5%

sesesse

2 f Niagara Hudson Power , ves ‘Muller Brass

oer Stores ....

sees is0tave Sessa tsi

gaa vsses

eh i Virginia-av. sien :

rev. Close.

8 Mrs. Ray Williams, 5421 E. Washington-

ners! Suldooe Adv: Co. 841 N. Pens.

ood ~ Connon and medium

UPTURN HALTS RECENT TREND OF HOG PRICES

Market 15 to 256 Cents Up; Cattle Mostly Firm; Lambs Lower.

Reversing a recent lower trend

the hog market at the Indianapolis Union Stockyards today was i5 to

25 cents higher. Top price was quoted in the 190 to 300-pound class which brought $9.50 to $9.75. Sows

| were strong to 25 cents higher, the

bulk selling for $8.25 to $8.75, top

1, | $9. Receipts totaled 5000.

The 300 to 400-pound class sold for $9.25 to $9.65. In the lighter division, 170 to 190 pounders were $0.40 to $9.65; 160 to 170 pounds, $9.15 to $9.55; 155 to 160 pounds, $8.90 to $9.50; 130 to 150 pounds, $8.40 to $9.15 and the 100 to 130pounders, $7.90 to $8.65. Choice and prime steers and yearlings were fully steady. Strictly prime steers of 1283 pounds brought $10.75 and four loads of 1309 pounders sold for $10.50. The market in lower grade steers and yearlings was slow and prices were steady to weak at $6 to $8.50. The heifer supply mostly ran to the lower grades and the market was dull and easy. Cows were steady to weak. Vealers were around 50 cents lower, the bulk of the better grades bringing $9 to $10. Receipts were 1200 cattle and 700 calves. Lambs were weak to 25 cents lower, the bulk .of the good and choice $8.50 to $9. Fat ewes were steady at $325 down. Receipts,

Receipts. £000 2500 6000 10,000 5000 5000

9.50 9.00

29. ' Light %i 140- 0 Good and 5) iw Medium £160 we Good and

choice..$ 8.55 7.90

Medium We eights. (200-220) Good and (220-250) Sood and

5 Good and 0) Good and WS

choice.

choice. choice.

ooo oom UO

425-450) (275-550) Medium . Slay hter Pi -140)

0H PWR® VW BVO DOO

ND LAI Ded

od and choice.. Medium

eceipts, 1200— (550-900) Choice. P

Nees $9893

Cc (900-1100) G

—- PONDS SIS

avogmoUioHnDD

c (1100-1300) G

. NOINOM-INONISO

Zababioni SMINONNO DONS

M (1300-1500) Gi

—

(550-750) . Good

Common, medium. Good ‘and Re Roice. Common, medium.

D> wSmoeS

POW C--

(750-900)

Low cutter and Cater. Shaina Bulls, good Cutter, com. and med. bulk. . Vealers

—Receipts, 700—

pd JOO «I-3 (Ooo VID

Good and choice $ [email protected] Me. 7.75

9.00 4.00@ 7.75

(250-500) Good and choice. .$ 400 Common, medium. Feeder and Stocker ED (500-800) Gooq and choice..$ 2% and medium. (309° 1050) Good ed choice. . Heiter Com. and medium. { 5 k 1]

Good Gand choice Common and medium ......

Cows

2 83s

waiey 32 Sood on and medium ........ be

SHEEP AND LAMBS ~—Receipts, 2500—

hen 3% 3 oo se 93 ada

190-110) Good and iq cliolce.. .- baciiyeP ne Timb a

Other Livestock

(By United Press) wie OHIC t. 29.—Hogs— Receipts, 000, J aifects: oelps fully A i AVSIaRS io Joep.

s a choice, 1 0: figne ite Eh and Lo) s unevenly Rig or most 100-150 $17. bignersieh teady, better. kinds iias; ie terete Diddine io@ise doer Cattle—Rec

e 9000. es 1500; eral aly plain; few ohotcest steers nd s steady; $11 psid: some hel higher’ all others Slow: Henk with declines 40c from best time early in and mediu

Sasa 33338233383

SALES MANAGER

Charles C. Syphers recently has been appointed sales manager of the Indianapolis Norge Sales Co. with offices at 640 E. 42d-st.

PROCESSORS AWARD BUILDING CONTRACTS

Times Special NEW YORK, Oct. 29.—Contracts awarded on current construction projects in the process industries totaled $4,707,000, Chemical and Metallurgical Engineering reported in its October issue. Current proposed work and bids asked totaled $8,139,000. . The outstanding proposed project during October is for construction of a $2,800,000 tetra-ethyl plant at Baton Rouge, La. for E. I. duPont de Nemours and Co. the issue stated. | A second project, estimated at $2,000,000, is for the rebuilding of 73 coke ovens near B ham, for the Fairfleld Works the Tennessee Coal and Iron R. R. Co, the article said.

Largest contracts reported in this month are for improvements to the mill at Rome, Ga., of Tubize Chatillon Corp., estimated at $2,800,000.

Local Securities (By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inquiries or recent transacitions. BONDS

eiz Ind Tel (TH) 4Y%s 61... H Tel 1 Pt W 5l%s ’43. H Tel £ Es

Big. Masts 106

104 . 108 ! + 72% : 2

] ’58..1 1 5 & 10 St res 5° ’50.. 100 Muncie Water Works ’65..103% Noblesville HL > P Sis, 47. 103% Ohio Tel a. 100

Trac Terminal 57 Indpls Water Co 32s '66....

ABC Brewin

Dru ‘Ind & Mich Heo co Bd 7s..108 *Ind Gen Serv Ci 2.5% 101% Ind Hydro Bee Go UE eivivil, 69

Ga® Co is Pwr & Ti Co ‘nid’ 6s.. s Pwr & Lit pfd 6Yzs.. s Water Oo vnfd 5s

Co *Ex-Dividend.

Other Livestock

(By Mmes Special)

os OY LLLE, Oct. 20.—Cattle~—Receipts, 600. Market closed siow and lower Wednesday on plain and medium butcher cattle today’s opening trade slow around stead with late sales yesterday; receipts largely lower grade Sheers ag heifers and ower priced cows; 3354 lots medium yearings in the [email protected] column; others down as low as $3. most low cutter cows, 8 i Stes 25; medium sausage bulls, mostly, 2 OW eteipts, 200; market opening around 50c lower on vealers; practical top, $10; bulk better grades, $8.50 and up, 200 s—Receipts, 600; hog market, 15@ igher than Wednesday on sutchers; . er classes too scarce early numerous lots; better 20-230 Tio test. 40% 9.60; $5.35. top, $9.60; merely good; 190

1bs., Sheep_Receipts, 300. Opening sales fat 25¢ oo than Wednes-

lambs, weak day; mostly, "58.50 ¥ tor the better gradi choice a With weight scarce and quotable above, $8.50. Recoints Wednesday—Cuttle, 624; Calves, 310, Shops 8 69 'o hep: 338. Shipments — Cattle ne; ca hogs, 201; sheep, 268." 0 Shh 1%;

FORT WAYNE, Oct. 20.—Hogs— 15¢ higher; 225-280 Ibs, 80.40; Market $9.30; 360-375 Ibs.. 49 08; 275-300 1bs., 35; 350 1bs.. $8.68: 150-160 Tbs. $8.20; 130-140 10s. $7.70: 100-120 Ibs,, $745. $6.50; calves, $10.50; lambs, Ue8.86.

Hoe $8. $7. 95; 120-130 ibs., Roughs, $8; stags,

k | PAURARD DIVIDEND DECLARED

cha A 0 fal Bu a. a en a : $4.10; bulk tives. [email protected]; feeding lambs,

29 — market 1 256. hi ay or 326-275 ibs.. 1 @9.45; Hiss 5 [email protected]; 190-225 1bs., [email protected]: 170-190 The [email protected]; 150-1 110 1bs., $8.75 shisas: 5 bs HAG iv 5 3 i y Ca. Ves, own: lambs, $8 down

BUSINESS EDUCATION

Ent A eon:

pay Sessions. Lincoln $387. CENTRAL Business College

3 Vem

By United Press DETROIT, Oct. 28.—Directors of Packard Motor Car Co. have declared a $3,000,000 dividend, bringing total payments to stockholders in 1936 to $6,750,000. The present dividend, to be paid Dec. 15, to stockholders of record Nov. 10, represents a payment of 20 cents per share.

pan i

EARLY SPURTBY HEAVY INDUSTRY SEEN IN SURVEY

Obsolesence of Equipment Factor in Basis of Prediction.

By Seripps-Howard Newspaper Alliance NEW YORK, Oct. 29.—An early spurt by heavy industry is predicted by John T. Flynn, author and econs omist, on the basis of a national survey recently completed for Cole lier’'s Magazine. The survey showed extreme pere centages of absolescence in manu facturing, railroad, utility and gene eral plant equipment. “The most important thing in this country today,” Mr. Flynn concludes from his investigation, “is that. we need so many things and need them badly.” In the building industry he found obsolescence particularly high.

Schools Needed

“I found that there are between 10,000 and 11,000 condemned school buildings,” he reported, “still hous ing during school hours at least a million child; So at least 10,000 school adie are needed to replace these villainous old fire and deathtraps in which a million little lives are being menaced every day. “There are two million children getting only part-time schooling in portable, inadequate or condemned buildings. Then, too, there are about 2,000,000 more children of school age than there were in 1928, but there are about 12,0000 fewer school buildings.” These 12,000 school buildings, Mr, Flynn explains, have succumbed to the “bugs of obsolescence” which have also beeh eating away ea termites in all sorts of other fieldw.” Railroad Spending Drops The railroads, Mr. Flynn says, spent 800 million dollars a year on capital equipment in the five years preceding 1929, while in the past five years they spent , only 200 million a year. As a result they need cars and engines and stations and roadways all the more now, In 1929, he says, the roads ine stalled 730 new locomotives. In 1933, only one single locomotive was bought. Last year there were only 34 sales.

Out of every bottle of “Red Top" comes healthful enjoyment.

Monument Bottling Co., Inc. Distributors : 910 N. Davidson St. Phone: LI. 8203

Tes rts ci seb prc « Ro ps ar ok te coil by

of heating water increases your fuel bill 1

ee & oe REDE