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

Two-thirds oF th

Low-Cost Housing Worth Thought, Flynn Says.

¥ JOHN T. FLYNN

y YORK, Nov. 3.—In New = York the President said re-

cently in a campaign speech that "he plannéd to do something soon G+ about low-cost housing. .e Low-cost housing is a subject Eo social concern, but you need not be a soft sentimentalist about the poor to be interested in it. There's P ie business side to it worth think-

ing about. A tremendous pother has about foreign trade and its economic importance. Our State’ Department has carried on a 40year campaign about the open : door in China. _ Mr. Flynn The open door ; means an en- = Meaice into China of our goods. = ere is even occasionally talk of ¢ war about it. But all the goods £ ve ship to China each year would : amount to a drop in _the Boxe beside the business we could i if we could induce some one to about supplying houses to the

: Fo population of the United _Btates that needs them. a z= = = ERE are some facts worth ak pondering. In this country, i 42 per cent of our people have incomes of less than $1500. This seovers a population of nearly 55.«000,000 people. These people, of ~gourse, are not rich. But they have Jincomes ranging up to $1500. Yet not a house has been built for peo- | le in these income brackets in the t six or seven years. And seldom Js. a house built for them at any time. They live in the old, cast-off _bouses of other people. _ How many men would we put to “work if we could find a way to build “houses for such a vast population? “What a trivial thing selling a few autos and radios and sewing matein to China ‘would be beside vast industry In 1934 more a half of all the “houses which were occupied by nts were rented for less than a month. How many houses are t to rent for $20 a month? actically none. = nOUSES to rent for amount can not be built in large cities. Mr. Langdon Ht. chairman of the Housing Au- ~ thority of New York, says that sprivate builders can not build teneSments for less than a sum which sgalls for rent of $10 to $12 a room. S35 Therefore there are only two = &paths open to us. One is for our . sg@ngineers and inventors and construction experts to work out de“signs which will permit building of “houses that will rént for $5 a room ‘or the government will have to Sbuild the houses. The other alterStative is to let half our population go without decent housing. = On this point we may ask two tions. First, can this nation = permit half its population to be 3 housed in homes which are hardly fit for men to live in? Second, if private industry abdicates in a field -§ of business so essential to our well- § befnig, is it not the duty of the unity, through its governt, to take up the duty? (Copyright. 1936, NEA Service, inc.)

180 TYPICAL STOCKS f. * SHOW SHAR SHARP SWING

| nes Special : YORK, Nov. 3.—The marvalle of 50 representative stocks on the New York Stock Exge at the close of the business “ended Oct. 31, amounted to 293,000, an increase of $155,40.500 over the preceding week's 3h Paul H. Davis & Co. reported

At t the close of the corresponding a ago, the same 50 stocks a market value of $16,211,233,- , which indicated a gain through year of 40.78 per cent,

—

n that

imes Special CHICAGO, Nov. ‘8—Twenty-five cal issues Nsted on the Chicago esa k Exchange at the close of the he week ended Oct. 31 totaled 1,024,110.9% against the preceding % ‘aggregate of $1,0199462375, 4 Davis & Co. reported today. . At the close of the same week a ago, the like stocks had a marvalue Of $794,140,125, representa gain of 28.96 per cent in the

ear, the report said. Money and Exchange

TREASURY STATEMENT (By United Press)

«$2 Fa 2. 8 3 3631, Tso. 679. 67

Ks - 408,083,1 233,899,703.45 t . 93 7,496.2 14.53 13% 259,976.22 bal. 1.763,629.480.42 1,473,082,450.99 debt, 33832, 35 147.60 29.461,602,046.19 “Te8. 4 y ,139.79 © 9,693,267 62 © '143,240,002.56 129.818,830.24 , : Fruits and Vegetables

Rg below. subject to chance, wholesale prices petng offerad : By Cminisson & dealers. Ro

Bananas, sel 1 New York Weal 2%, inc : No. 1 Grim Sia inches up, “er "85 =x Indiaba cious, 2': inches up, ; ‘No. 1 Virginia Jonathan, 2% inches $150, © mons. Red Ball, 360s. $5.75; . , $8.23. Limes—Mexican, 20c; Persian seedless, 84s-112s, $2. RS os. cs California Emperors. 28crates, $190.

C. C. Earl 25-1b. box. $3.90. ’ Persimmons, Ind 12-pint

$1. Honey Dews, vine-ri] ed, 13s, tes, Cal, 20-1b. x, $1.75. rtichakes, California, 5x, Beans, round stringless, $2, home

_— a doz, 25¢c. California, ¢ * $275; bunch, Brussel routs, per dren, $2.50 Cabi Des, 80c.

ng Caulifio Ce “hh 12 wer, 5-125, $1.50. Core . LS chit Mammoth, h 130. Celery 45c: hearts, 15 in oe yuisiana, bu., : EE ey Ome wn, bu., $1. foe. Lectice, tee e. 15-1b. basket, $1.35. Endive, home

Indiana Sharia white, 10-

PAGE 12

EARNINGS SHOW HIGHER AVERAGE INCREASE IN"36

Jump Over Food Prices or Other Living Costs Noted

been made | |

by AAA.

Times Special

WASHINGTON, Nov. 3.-—The

| average earnings of 15,100,000 em- | ployed workers increased more be- | tween 1935 and 1936 than did the

average of retail food prices or other living costs, the Agricultural Adjustment Administration announced today. This increase in earnings has given the average employed worker a 16 per cent greater purchasing power for food and a 2.9 per. cent greater purchasing power for all items of living costs, according to computations based on Bureau of Labor statistics data. Compared with 1929, the 1936 average earnings can be exchanged for 8.2 per cent more food and for 3.9 per cent more of all items of a typical worker's cost of living budget. These facts, as well as the following, are contained in a report by Louis H. Bean, economic adviser, Adgricultural Adjustment Administration, to Secretary Wallace, supplementing a similar report in September, 1936.

Total Pay Rolls Up The present report deals with annual data from 1929-1936, inclusive, for manufacturing, mining, wholesale and retail trade, service (hotels, etc.), communication, utility, and transportation industries, whereas the previous report dealt chiefly with monthly data for manufacturg alone, Total pay rolls in these industries in 1936 will be nearly 70 per cent as large as in 1929, total employment 80 per cent, and earnings per employed worker 85 per cent. This represents an increase Over 1933 .of 39 per cent in total pay rolls, 18 per cent in employment, and 18 per cent in earnings per person emloyed. Similar comparisons for September, 1936, and September, 1932, the report said, shows gains of 46 per cent in total pay rolls, 20 per cent in em-

| ployment, and 22 per cent in earn-

ings per employed worker. ose industries employed 18,600,000 persons in 1929. In 1933 they employed 12,800, 000 persons, and 15,100,000 persons in 1936, Mr. Bean reported. Greater Purchasing Power

Despite the droughts of 1934 and 1936, retail food prices in 1936 will average only 79 per cent as high as in 1929, or 21 per cent less. Other living costs are down about 16 per cent and the total cost of living budget for 1936 is about 18 per cent lower, the report continued. With earnings per person 15 per cent below 1929, and food 21 per cent below, earnings per person are, in 1936, 8 per cent greater in terms of food. In exchange for non-food items, which are priced 16 per cent below 1929 prices, the average €arnings of 1936 have a purchasing power about 2 per cent gerater than in 1929, the AAA said. The report shows marked differences in the rate of recovery in employment, pay rolls and earnings per person in the several groups of industries and, therefore, marked differences in the changes in purchasing power for food and the other cost of living items.

Earnings Placed at $1183

The 1936 purchasing power per person employed in factories is about 10. per cent greater in terms of food than it was in 1929; for those employed in mining, 6 per cent: for those employed in service industries, 4 per cent, and those employed in wholesale and retail trade have about the same purchasing power as in 1929, according to Mr. Bean's figures. The greatest increase, 26 per cent, {s shown for those employed in the group of industries -including railroads, utifities and communication, but part of this increase may be due to a larger. proportion of. workers now employed being in the higher earnings brackets than was the case in 1929, when a larger total was employed, the computation showed. The average earnings per person in all of the five groups of industries was $1387 in 1929, $1000 in 1933, and will be around $1183 in 1936. On the average, the report said, about onethird of a typical worker's budget was spent for food in 1929. For:this group of workers, the 1929 food cost may be taken as about $460.

Food Bill Lower

The depression reduced this food bill by 37 per cent in 1933 below that of 1929. In 1936 it was still 21 per cent below. Consequently, food that cost §460.in 1929 cost only $280 in 1933 or $170 less, and $363 in 1936 or nearly $100 less than in 1929. This left $927 available for non-food items in 1929, $715 in 1933, and leaves about $820 in 1936, asling

s, have thus increased average earn-

ings by $178 per employed worker, of which only $67 goes for increased food costs; and $111 is available for industrial products and other non-|. food expense items.

The higher prices paid for food; |] of course, became increased pure].

chasing power for farmers, . and those engaged in dling and ucts; and the increased power of Pe groups supports increased employment in industry in general, the AAA said.

QUARTERLY INCOME UP Times Special CHICAGO, Nov. 3—Net income of the Cleveland

Bronze Co. =| for the quarter ended Sept. 30 $253,122

totaled compared to last

Po SRS hot ly :

Produce Markets

ai EELS

| =

processing, han-. tributing farm prodpurchasing

TUESDAY, NOVEMBER 3, 1936

LOCAL CLOTHING COMPANY REMODELS STORE

Alterations and redecorations recently have been -

completed by the Miller-Wohl Co., ton-st.

DAILY SALES IN RURAL SOUTH UP

Gain of 28 Per Cent Shown by Department of Commerce.

Times Special WASHINGTON, Nov. 3. — Daily average rural retail sales during September increased more in the South than in any other section of

the country, the Bureau of Foreign and Domestic Commerce reported today. Sales in the South advanced 28 per cent over the corresponding period a year ago, while the increase in the country as a whole rose 18 per cent. The smallest gain was noted in the Middle West, the report stated. Sales increases in small towns and rural areas from August to September were higher than the usual seasonal amount, the gains ranging from 14 per cent in the East to 55 per cent in the South. The country, taken as a whole, showed a 27 per cent advance between these two months. The sales estimates are based upon a sample representing approximately one-fifth of the retail business of this type transacted in places of less than 30,000 population, with the figures furnished by three large mail order companies for sales by mail only, and by a group of chain units operated in the small towns and cities of the agricultural regions of the country.

ADVERTISING PLACED BY RETAILERS GAINS

Times Special

CHICAGO, Nov. 3.—An. increase of over 10 per cent in advertising placed in newspapers by retail merchants of 67 major cities during the week ended Oct. 24 was reported today by Advertising Age. Total lineage for the week was 20,294,693 against the corresponding 1935 total of 18,430,062 linés, a gain of 10.1 per cent. For the 43 weeks of the current year, the total volume of retail advertising in these cities. numbered 733,667,425 lines, compared to 691,238,777 in the corresponding period last year, the report said. “Gains over 1935 were registered in all but three of the 43 weeks, and only one loss has been shown since Feb. 22, the newspaper said.

NEW TESTING BASE ANNOUNCED BY G. M.

By United Press DETROIT, Nov. 3. — General Motors Corp. announced today that a new base for automobile testing to supplement the Michigan proving grounds would . be established at Phoenix, Ariz, to be known as the Argonaut. Proving: Ground. The testing ground will cost approximately $100,000 * and will be completed in December, the company announced. = The = Arizona grounds will "be operated by the Argonaut Realty Corp, a General Matars subsidiary. “Additional employment at Phoenix will: be negilgible, the company said, since the plant will supplement existing operations and trained personnel will, for the most part, be drawn from. available forces now employed by the gorporstion.

FIRM CHANGES NAME |

today. : “The change in the name of the

corporation is: believed to be m appropriate dug ta the wide vari y of “products which company carries,” Mr. Morrow said

FILES STATEMENT WITH SEC

Times Special

The work is estimated by Paul B. Madison,

45 E. Washing-

New Business Books Available at Library

The following new ‘business books now are available at the business branch of the-Indian-#apolis Public Library:

RICH LAND, POOR LAND, by Stu-

scale programs mus meet the nation’s difficulties. TALKING ON THE RADIO, by Orrin E. Dunlap—What constitu es a. good ‘radio personality” and why naturalness is the keynote 2 radio success. THE MONETARY PROBLEM:GOLD AND SILVER, compiled by Great Britain Gold and Silver Commission—A summary of a report that is a classic on the relative values of goud and silver, edited by Ralph E. ob: ey y.

COST OF LIVING IN THE UNITED ST ATES, compiled by National Industrial Conference Board.

NEWSPAPER MAKEUP, by John E, Allen—An attempt to point out, with many - concrete examples, many of the things that wor against attractiveness and legibility in newspapers and many of the things that make newspapers more attractive and easier to read.

APPROVAL ASKED FOR TRUST CERTIFICATES

By United Press WASHINGTON, Nov. 3.—The Southern Pacific Co. has applied to the Interstate Commerce Commission for permission to issue and sell $9,150,000 of 2% per cent equipment trust. certificates to be used in connection with the proposed purchase of $12,446,654 in new equipment. ‘The application proposed sale of

the new issue to Halsey Stuart Co., at 99.527 per cent of par and ac-

-crued dividends.

o - - Building Permits Madison sayrecking Co., .1005 Edison-st, "ies." $50. dward Killar, 24 N. Bradley-st, garage, 208 eg Sewell, 1408 Mills-av, garage, Roy Brown, 1409 N. Tuxedo-st, alterations, $900.

Guy Jusius, 12th and Jinvaod: -av, ga=

rage, $200; dwelling, $4300 N. Gra ham-st, garage, $200; welling, “Rast, 1101 N. Shannon-st garage; Swellln

Emilie Kurchmann, 3 Krcbues -5 repairs, $100. yh,

Ngison, 35th and Boulevard-pl,

wrecking, $8 John Dixon, 727 E. Ohjo-st, garage $140. Lucille Mower, 5025 Park-av, roof, $50 Circle Construction Co., 607A St. Joe-st, electrical, $100. Silver Fleet Trucking Co., Senate-av and Merrilgt., electrical, $100. otter Xe Scott, 1332 Missouri- st, electrican. $250. ldstein Electric Shop, 1101 B. 46th-st,

Go. electrical, 25. 5309 N. Illinois-st, electrical,

Fred weet 2118 W. Indianapolis-av, electrical, $25 S. s Bu 0m, 5362 Kenwood-av, elecL. Green Co., 202 Miley-av, elec 51500.

trical

trical,

pe ©

manager, to have cost approximately $20,000, The above picture shows the interior of the store after : the redecorations were completed.

AUTO INDUSTRY CONTINUES GAIN

Output Increases for Fifth Successive: Week; Truck “Sales Set Record.

Times Special DETROIT, Nov. 3.—Despite its failure to exceed last year’s level, the automobile industry in the latest week recorded its fifth successive weekly gain with an output of Sm 71,095 units, against 64,310 units ii the preceding week, Ward's Automotive Reports said today. Sales of 263,507 cars and trucks during September aided greatly in clearing of 1936 stock, Ward’s said. Truck sales in that month totaled 54,611 ‘units, the highest on record for that particular month. Advanced tire prices, expected in the near future, indicated further rises during the coming year, :the report said. “This should develop a "prospect of greater profits in the rubber industry during the winter,” the serve ice added. “Although dealer dis counts will be revised, there will be

a percentage of ‘the advance accru- |.

ing to the manufacturers.”

STORE EMPLOYES TO RECEIVE BONUS

Two hundred and sixty employes |.

of the local Sears and. Roebuck store are to receive’ ‘special bonus

payments, S. W. Shipnes, general |

manager, has announced. Those who have completed two. or more years of continuous service with the company as of Dec. 1, are to have two week’s extra pay given them, while those with one year of service dare to receive. éne week’s extra pay. been with the firm for six months

will get onehalf week's exira salary, |-

Mr. Shipnes said. The bonus payment’ ‘is to be extended to all of Sears’ stores as a recognition of its employes’ ¢ooperation and loyalty, Mr. Seignss stated.

DECLARES FIRST DIVIDEND °

Times Special

NEW YORK, Nov. 3—The United |;

States Sugar Corp. today declared the first dividend on its common stock, and also a full year's dividend on preferred stock for the past fiscal year.

Steel Operations and Prices Be

Administrative and Research

STEEL OPERATIONS AND FINISHED STEEL PRICES

100

OU 0 <4 00 © OO OO O © oO

- Percent of Rated Capacity

Operations ~N Oo

Average

weekly, in 25 manufacturing industries during: the first eight months

193% 1934 1935 J F RAM IJAS

York

2.40

» PN

on Gir = Cents per Pound.

earings of iron and steel workers-exceeded thse

‘of 1936,

Aitheugh earnings of neither group have Yeuiruad to 1579 Jewels

¥#

\ oe v s] y

Employes who have eeqy

PORKER PRICES STEADY; SOME GLASSES EASE

Underweights Level Off to . Conform to Trend in Other Centers.

‘The hog market was steady today

‘|at yesterday's advances with not

much change in prices noted for 160 pounders and. up. Some tendency for underweights to drop lower to conform with, prices in other packing centers was reported. At the close 180 to 300 pounders were $9.70 to $9.90; 300 to 400-pound class, $9.50 to $9.80. The bulk of packing sows were $8.90 to $9; top, $9.25. Total receipts, 3000, The 160 to 180-pound weights were $9.25 to $9.80; 150 to 160 pounders, $9 to. $9.75; 130 to 150pound class, $8.50 to $9.25 and the 100 to 130 pounders were $8 to $8.75.

At the cattle market opening, fed

steers and yearlings were fully 25 cents higher on receipts of 1300 cattle and 300 calves. Slaughter she? stock was. strong to 25 cents higher; buils about steady. ‘Top price for 875-pound yearlings was $11.25 and for the 1439

.| pounders, $11. The bulk of the fed

steers brought $10 to $10.75. A few heifers sold up .to $9. Beef cows were quoted at $4.25 to $4.75 with {the cutter grades bringing $3.25 to $4. Sausage bulls mostly were $5.50 down. . Vealers were strong to 50 cents higher with the bulk of the better grades selling for $10 to $10.50, top, $11. Lambs were generally strong with the bulk - of the better grades

: * Calves (250-500) Sood and, .choice..$ 6.

on, mediym Feeder and Stocker" Gatile (500-800) Sod and choice..$ 6 and medium. 4. (800-1050) Good and cheoice.. 6. and medium. 4, Heolters—

ood and choice. .........e Common and DiS i esetee

Cows

- 88° 8

€9 ©9998 09

5 3H 3838" 9 DAD Gig «3 333% 88

wae

Goo ive unas us ii Jiddenane ve Common and medium . SHEEP AND LAMBS —Receipts, 500—

mbs— .ChoiC8 cesvearecacesennns

a] Sassen LE

- MeAIUM e4rureiarrarsseianes COMMON +ccorossaiosascccice’

Ewes— ; 50-170 d and choice . (90 ) goo ge

a Z (Sheep and lamb quotations basis.)

te a3

nee Cay gaa £60 £€89.

MW oocedo’

328 BS838

3. on clipped

3.—Hogs—Mar et,

WA YNE, $89. 75; 200-225"

FORT Nov. steady; 225-250 ibs., 250-2

$9.15; 150 1bs $4.15 130-140 lbs., $3. 50; 120-130 Abs., "$8.25; 100 -120 1bs $8. Roughs, 3- 25; stags, $6. 18; calves, 316.50 50; lambs, $8.5 (By T s Special) LO i ae 8 SC anile—Receipts, 200. Receipts, sharply curtailed as re~ sult of holiday and weather; not enough done on meager sally arrivals to make test; all’ classes sidered nominally steady as compared Sith Monday's strong

of. Calves—Receipts, 100. Nothing done un few odd head; vealers offered on first. rounds indicates a cleanup will be made res; the extreme top Monday | ice, io: Pragiical top, $9.50. pts, 500; including 328 billed et hot full Sstablished;

$9.70 and d ali os A or 1y Me gs, an 0 un er ear Oon- . day and stfong with o oie y

ose. -150.- Not enough fat lambs, or sheep A ‘hand to quote; undertone stendy or mostly $8.50 do wa bes Monday: ttle, 1546 “calves, 659; -107;. : Sheep, 460. Shipments fl ; calves, 142; hogs,

‘selling for $8.50 to $9; slaughter ewes steady at $3 Savi. Receipts were: 500, HOGS Oct. Bulk. Top. Receipts. 27, . $9.40@ 9.80 $9.60 10,000 28, 9.35@ 9.50 9.50 5000 29. © 9.60@ 9.75 © 9.15 5000 30. 9.556@ 9.75 9.75 5000 3 9.55@ 9.75 9.75 1500 2. ‘ 9.70@ 9. 2 9.90 4500 9, we 9.9 9.90 3000 Light Lighter-140-160) Sond and “choice. Re My 3 Lge veins @ Goog a1 and choice. . 9.15, 9.80 Jars eee * 8.66@ 9.55 (180-200) Good a and" choice. . 45a 285 um... . 8. , Medium Weights ® (200-220 ood and choice.. 9.65@ 9.85 (220-250). Good ‘and choice... 9.70@ 9.90 Heavyw eignts ts— : 250-290) Good and choice... 20a 9.90 (390-350) Good and choice.. 9.50 9.80 Packing Jo . 275-350) GOOd ccoescnnres.e © 9.00@ 9.25 (350-425) GOOd ..ceveviioss jie 9.00 25-450) GOOd ....ec0000000 8.50@ 8.75 susghiee Medium ..ce.eo.. . 825@ 9.00 a T 00-140) "Good A, choice... 8.00@ 9.00 Carereene . 7.00@ 8.75 CATTLE —Receipts, 1300— (550-900) Choice ..c.ccceuuon $10.25@11,00 Good “.evee 3 [email protected] Mod um cee sia 9.25 Common o.. 550@ 17.2 (900-1100) ‘Choice .... «eo [email protected] alee Of" cons. [email protected] Medium cose .25@ 8.75 : Common .. 5:50@ "7.25: (1100-1300) Choice «... 00d .e.oeo [email protected] Ea Medium. ;..q. 7.10@ 8.75 (1300-1500) Choice ¢...... [email protected] ‘ 00d ...c0.ic000 8.75@10. 00 ~~ Heifers (500-750) Choice ¢.....o0000: $ [email protected] Soo i - csenenesieie 8.25 Common, medium.. 4.75@ 8.25. . (750-800) Good and choice. . [email protected] . Common, medium.. 4.75@ 8.25 Cows GOO: ..vovecviiisiiisnnronines $ 5.00@ 5.75 Common and.medium.......... 4.00@ 5.00 Low Sutter and cutter FNRI : 3800 4.00 Bulls, 800d: «.. ii. iieerieoeii 5.50@ 6.25 Cutter RO . and. med. bulk... 3.75@ 5.50 . : . Vealers ie —Réecei ts, 300— z Good and choice DS ens $-3.50811.00 Cull ‘and ‘medium "11115111111 4 @ 175

‘Busigraphs

TREND OF, , DEPARTMENT STORE SALES

FEDERAL RESERVE BOARD INDEX

INCOR PORATED INVESTORS

September retail business, . as measured by department store sales, jumped 8 per cent over sales ~@ year ago, and just about touched the seasonal average for the past 10 years. Sales were the largest for any September since 1930.

PROCESSORS REPORT

IMPROVED EARNINGS

Times Special NEW YORK, Nov. 3—With the effects of the drought still pending, food processors reported improved earnings during the initial half of the current year as a result of increased volume and larger profit

vestment Surveys showed in its latest report. Cottonseed oil companies were the notable exceptions to this upward trend, due to sales losses caused by heavy supplies of butter and lard. Raw material costs are higher, but larger consumer incomes. will make. it possible for the companies to pass the increase on to the public, the report predicted. Corn product manufacturers were severely injured by the drought. Despite satisfactory sales and advanced selling prices, great competition was offered by organizations making food products from sugar. This explained the comparatively low earnings during the first| half of the year, the report said.

CLASS 1 RAILROADS "REPORT INCOME UP

15 By United Press

WASHINGTON, ‘Nov. 3—The Interstate Commerce Commission reported today that the nation’s 144 class one steam railways showed a net railway operating income of $70,166,026 for September this year, an. increase of 22.6 per cent above the net income for September, 1935. The commission reported net railway operating income for the first

{nine months of this -year totaled

$434,864,004, compared with $321, 201.78 for the first’ nine months of last year, a 35.4 per cent increase.

s| AMERICAN AIRLINES

- SETS NEW RECORD

By United Press ) } | “CHICAGO, Nov. 3—American Airlines, Inc. today announced ib

.50 | set a new high record for passenger

traffic in the first nine months this year. American Airlines carried 175,549 passengers from Jan. 1 to Oct. 1, compared to 176,005 for all of 1935. The nine-months’ record represented an increase of 31.5 per cent in revenue passengers from the corresponding period last year. July traffic totaled, 26,786 passengers, also a new record for the Industry. |

STATE COAL OUTPUT CONTINUES WEREASE

By United Press

With winter months coming on, Indiana coal production continued to rise for the week endéd Oct. 17,

the United States Bureau of Mines reported today. Production .for the .previous week was 349,000 tons and for the same period a yéar ago, it “was 317,000

fons. The state produced more than 3 ber cent of the mation’s supply.

"Dividends. Declared

Dividend rates are given in dollars sha cents unless stated: otherwise. Boo

Period. Bog Amer Service pf.3.00 .. Dec. 19 Nov. 25 Vaiss s HWS 1.00 .. Dec. 19 Nov. 25 meld 2 Mig. ...$ is .. Noy. 16 Nov. 10 Brach & Sons .. .3 Q Dec. 1 ov. | 14 Buckeye Pipe Li 1. 2% .. Bee, 15 Nov. 20 Bieler £1 Auto Stamp 2 .. Nov, 30 Nov. 16 sler «. Dec. 20 Dec. 10 ST evry 32 VA See Dee |10T First St Pawn ..1.75 @Q Dec. 31 Dec. 21 Nachman-Soring .25 .. Dec.'15 Dec. 1 South Cal hve amin Tv2 Dec, 15. Nov. 20

AUTOMATICALLY Topétirttien 11. @z LL e122

Genuine Letters Shak Hands. peer hem to increase” Fabien, Collections, Promotions, etc.

‘Bemis Letter Sefvice

~ 803-307 Merchants Bank Bdflaing

ATH, HAMILL & GATES

MEMBERS New York Stock Exchange t New York Curb Associate

Chicago Stock Exchange Chicage Board of Trade -

Riley Toa!

«Its Territories and

“CBandn of the United States Goversment; fe

* ‘Federal and Joint Stock Land Bank Bonds Indiana Moniepe! and orpoesly Suctsta Rual Estate Bonds und Prferted Stocks

5 523,702 increase in the number '| of the nation’s farms between 1930 and 1935 took late | in those ranging from three to 19 acres, according to i figures released by the Census Bureau. |

{BUSINESS PACE

margins, Poor’s Industry and In-

1dation of livestock from .drought

when- 361,000 tons. were ' produced,

wi ae bd

BRISK DESPITE

Motor Production Up oo Carloadings Remain at High Level.

Times Special NEW YORK, Nov. 3—A pre-elece tion lull seems to have struck busi= ness activity last week, though the slight slack: hardly ‘is destined to last, Business Week said today m i its latest business outlook. i “Power production has leveled oft at peak marks, but the biggest power demand months are yet to come, - Steel, too, has eased up: as heavy construction lines have lagged and motor manufacturers have held off specifying delivery dates. Bub. enough tonnage from Detroit is on the books for a million cars. Motor production is gaining momentum, though October hgs been somewhat ofsa disappointment. Carloadifigs are resisting taking the customary downward plunge, chiefly because coal, ore and fruit shipments cons | 32 tinue heavy,” the magazine said. Directors of major corporations: i last week declared increased and extra dividends. Heading the lst was U. S. Steel; which-paid the fist regular $1.75 a share on its preferred since late in 1932, and tdcked on & $2 payment on- account of arrears, This brought accumulations back to where they were at the end of 1038 at $16.25 per share. . Current earn= ings reports of corporations reflect

‘exceptional ' improvement “over last

year, and dividends are. coming forth more freely each week, the Teport said.

Retail trade has had a Plok-up | in the form of cooler wea ct though even without this, there a enough straws in the wind to indi= cate that business is bound. to be good in this quarter in the next few : weeks, the outlook continues. “With industrial activity. running at the highest levels since 1929, pay rolls have been steadily ‘expanded. Wage - increases are also- making their appearance. Meat" packers ais fw nouriced a 7 per cent increase this week which will put current wage” scales 20 per cent above the 1929 level, This will mean a $6,000,000 increase in purchasing power for .100,000 employes,” Business Week declared. ‘Another source of buying power will come from the farm areas. A beginning has been made in the distribution of $470,000,000 of, f benefits, and the bulk of this mo will be in farmers’ hands in, the next two months. Farm income in

zine said, by unusually heavy liquis

areas, which brought the months cash. income plus benefits up to § $760,000,000, 8 per cent above: pst - year. Gas Industry Busy’

While electrification has had the spotlight this yeaar, the gas industry has not stood still. Domestic cus= tomers have increased by: 100,000 over: .last year. Some 910,000 gas ranges have been sold during the first eight months of 1936, a 28 per ‘cent gain over the same ‘months. of 1935, and 80 per cent of ‘these ‘Were higher-priced ranges. Autoniatfc gas water heater sales: top last: year by 50.per cent in the eight-month pe~ ; riod, the publication said.’ ra Aviation circles. were: greatly: ex : cited about the prospect of gebting a good volume of business i abroad due to Britain's inability. to build up her air defenses quick! home, the outlook said, and it y looks as though Canadian branches of domestic producers will share in

Military aircraft and ‘engines, have shown sharp gains .over last year. Rubber consumption this year has run substantially ahead of last.: the United -States, this year is set to establish a new all-time high, dus to the-.increasing activity of fire and mechanical rubber industries,

35k

, x » SAME EXCHANGES CLOSED 5 - AN New. York -and :Chicaga. stock and grain exchanges are . observing an Election Day hol day today. However, the dianapolis Union Stockyal were open as usual,

If you need a real es= tate loan, youll save

i ze x 5 %

Industrial Activity High - \

September was swelled, the maga=