Indianapolis Times, Indianapolis, Marion County, 9 November 1936 — Page 14

An extra dividend of 75 s 10 | a special distribution of $4,500,000 to employes has been voted by Standard Oil of New Jersey. Standard Oil of Indiana directors have voted an extra dividend of $1 a

RESEARCH WORK 70 CONTINUE ON

‘Refunding Does Not | pAGE 14 MONDAY, NOVEMBER 9, 1986

Produce Funds, . Eroight Carloadings Surpass 1931

[PORKER PRIGES DROP 10 GENTS

Flynn Says. BY JOHN T. FLYNN

ET N= YORK, Nov. 9.—There can be no mistaking the in-

NEW GAINS KEEP BUSINESS TREND

New York Stocks

A. M, Close

CARLOADINGS (AVERAGE

850

edhe nine vy

creased activity in the stock * markets.- But it is difficult to un-

s nc derstand the stubbornness with

2 which fresh funds resist the capi- * tal markets. “° Every month impressive totals ;~- of new security issues are published. In the eight months of this year up to the end of August, $3,300,000,000 of new securities were registered with " the Securities and Exchange Commission. This is well over twice what it was in the same period of last year. But on analysis the total ~. loses some of its impressiveness. New securities are issued for all sorts of things—preferred stocks . . substituted for bonds and vice ver- .- sa, common stocks substituted for ~ bath, shares issued for conversion _. purposes or to refund old indebtedness in one way or another or merely to remain in the treasury of a corporation for future use.

» = = HARES may, however, be issued for money, the money to be * used in buying capital goods, _ plant, equipment, etc. Of the more. than three billion of new securities

7 in these eight months, only $250,- ** 000,000 were issued to bring fresh funds into industry. This is very small indeed. And this total includes cover $100,000,000 of the General Motors Acceptance Corp., which is mergw" ly an accumulation of funds to lend out on installment sales. The i actual amount raised for new * plant and equipment is only about pi + $100,000,000. The securities markets will have to do better than that if they wish to claim to be making a contribution to recovery. There is a theory that even refunding operations, however, do aid. A corporatioin owes $20,000,000 of bonds. The bonds are due. The corporation issues a new crop of bonds—$20,000,000 worth—in order to pay off the old ones. This 1." is supposed to help in two ways. First, these refunding operations *. may be at lower interest rates. i* There is no doubt they are helpful when that is the case.

= 2 2

UT they are also supposed to bring new money into the

“market because A buys a néw bond, handing his money over to the corporation for it.” The cor- ' poration uses the money to pay off B who holds a maturing bond. Now B has his money back and is

able to invest it or use i or spend it. This, howévey, is very Fateh exaggerated. If ‘A has money to invest, that money is in the market.. and available. B, however, whoholds the old bond, has no money. Now A buys a new bond and pays’ his money to the corporation. The - ~ corporation pays it to B. There is no change in the amount of money available, Before the opseration A had it. After the opera- = + tion ‘B has it. That is all. & However, it does happen that B Srefuses to accept a new: bond in “payment for his old one because he wants the money to spend. To the extent .that he does spend it he aids the system. Otherwise he does not. Hence we may dismiss the refunding operations as producers - of fresh capital funds. (Copyright, 1936, NEA Service, Inc.)

GERMAN GOVERNMENT TO FLOAT NEW LOAN

« By United Press BERLIN, Nov. 9.—The German government announced today that . it was launching a 500,000,000 mark * ($201,150,000) internal loan at 4%2 * per cent, to run for nine years. The

Mr. Flynn

AT STEADY PAGE

Dividends Declared Ahead of 1935; May Pass 1929 High.

Times Special NEW YORK, Nov. 9.—The sweeping indorsement of the Administration given by the electorate last Tuesday makes the road for business pretty clear, and for the immediate future, the business outlook looks much as it did last week, Business Week said in its current issue. Nov. 11 is the big date when the automobile industry makes a formal presentation of its 1937 models upon which is has been stepping up production over the past few weeks. A 100,000 cars a week production

schedule is in the offing, the article said.

larger, giving that industry an additional impetus in the next few weeks. Outstanding development in steel is the expected announcement of wage increases coupled with higher prices for steel products.

Steel Earnings Gain

This year has been a good year for steel. In the first niné months, 12 companies having 80 per cent of the country’s steel ingot capacity reported profits of over $80,000,000, a gain of 251 per cent over the same months of 1935. This gain in earnings accompanied a 40 per cent increase in steel ingot output, the magazine reported. “An unusual volume of buying from railroads is coming to light,” Business Week said. The Burlington plans an $8,000,000 expenditure for freight cars and locomotives. The New York Central may step up its plans for 50 locomotives to 60. The Western Pacific has a $13,000,000

program up for consideration. Behind the current buying program of the railroads is the record of improving earnings. Net operating income in the first nine months of 1936 is estimated 35 per cent greater than in the same months of 1935.”

Dividends Up 46 Per Cent

Dividends in the next few weeks are destined to ‘eclipse even the last two months of 1929 when more than a billion dollars of dividends were declared. In the first nine months of 1936 they surpassed comparable months. of.1935 by 24 per cent, but October jumped 46 per

cent ahead of last year, it was declared. Construction activity during October apparently slowed down some-

what in the usual sesSonal fashion, reports indicate, Home: coristruction during the first*three weeks of the month slipped slightly Behind the September level, but held: well above last year. Public works and utility construction dropped more sharply benind the preceding month, and even fell b8low last year. But industrial and other forms of nonresidential building continued active. Third quarter business of 78 electrical manufacturers was. the best for the period since 1929, and it’s a good bet that it wasn’t all toasters, but included a fair share of industrial equipment. The first nine months brought new orders 33 per cent ahead of comparable months of last year, the magazine said.

New Bond Issues

(By Lyons & Co.)

Bid. Allied Shares 3s 61 Arkansas Gas 4s '51 Associated Xe hones Sa 65; . m Tel & Te

Commercial Sresy, 3s "81. 0 Conn River Pr D 4] L 3%s "61. Cudahy Pkg 3%s Cudahy Pkg 4s so Edison Illum Poston 32s '65.. Gen Motors Acc 3s 46

ot bh fd fh fk od fk fd fd Gd fk fd fh oh fd v1 ®

Steel deliveries to Detroit will bulk |

800

o 94 8 a &

Thousands of Cars g 3 3S

badd

the first three weeks in October.

road traffic this year.

Railroad ‘freight movements averaged 822,000 cars weekly during This represented a new high for the current year and was nearly 10% above the 1931. peak. ‘Continued ex-. pansion in capital goods industries gave considerable Suppers ho yagl-

STOCK MARKET: WEEK IN REVIEW

BY ELMER C. WALZER United Press Financial Editor

‘NEW YORK, Nov. 9.—The stock market climbed into new high territory for more than five years last week under the impetus of buying after the presidential election. Trading was the heaviest since February. Brokers reported increased public participation and margin operations.

Foreign currencies declined as investors abroad sent funds here. Monday’s market closed easy. Coppers had shown some strength on increasing prices of export -copper. - Tuesday the market was closed for "election. The market. opened vigorously Wednesday and gained momentum in volume while scores of new highs were being recorded. .On Thursday, 147 new _ highs were .made, taking the average to new highs since 1931 and increasing the value of listed stocks to the highest point in six years. * ‘Some profit-taking developed after. a. higher start Friday and the list showed, on the average, a little lower tone than at the close Thursday. Nevertheless, 116 new, highs were , rade, including Nos which dated back as far as

Government Bonds Up

Gains on the week ‘ranged to 10 points in the general list with wider advances in the metal; ‘motor and motor equipment issues. - United States Government Londs went to record highs.on heavy turnover, The market bullishness was enhanced by a flood of corporation special disbursements to stockholders and employes. The total of special dividends to stockholders in the two days following. the reelection of President Roosevelt— special payments necessitated by the heavy tax on undivided surplus at the time company profits are rising rapidly—reached almost $50,000,000.

. Pay Increases: Reported

In addition bonuses totaled around $10,000,000 while -the steel companies on Friday started announcing wage increases to workers of around 10 per cent which, if adopted by the entire industry, will

wage payments annually. These heightened enthusiasm for stocks and brought into prominence expanding retail purchasing. Whole-

0% | salers are contemplaiing the greatest

Christmas shopping season since 1529 with some having difficulty in getting deliveries from manufactur-

up ‘production -to care for the ex-

with production estimated this week by Cram’'s Reports, Iac., at 84.300

ceding week. Copper continued to advance. The

mean about $80,000,000 additional |;

ers. Automobile makers are stepping [in pected increased demand this yéar N

compared with 66,985 in’ the pre-

BULLION FLOWS

FROM ENGLAND

Shipments During Week of Oct. 30 to U. S. Total $14,815,615.

By United Press WASHINGTON, Nov. Commerce Department reported today that Great Britain shipped $14,815,613 in gold and silver bullion shipments to this country during the week ended Oct. 30. ° "Of . this, $12,170,974 was in gold,

tire imports of the yellow metal

during that week, which: totaled $18,678,331. Despite machinery set up under the three power monetary agreement for shipment of some of this country’s enormous: gold stock ‘when necessary dollar credits are establisher ‘here, the Commerce Department’s report showed. that imports during the four weeks preceding Oct.

1.30 totaled $202,340,706 against neg-

ligible exports of $105,225,

imports during the week came from Canada, which sent $3,730,456 and British India which sent $1,062,984. Silver . imports . totaled $7,986,935, for the week and $26,360,913 for the

four week period, including $1,102,-]

365 from Mexico and $3,921,869 from China.

Local Securities

By Indianapolis Bond ana Share Corp.) he tollowing quotations do not represent actual bias or offerings, but meizly indicate the approximate market level based on buying and selling inquiries or recent transactions.

BONDS

Citz Ind Tel (TH) 42s ’6l. 10s

Indpis Railway Inc Interstate 11 & Tel 5s Za Kokomo Water Works bs ’68..104 Morris 5 & 10 Stores 3s '50. .. Muncie : Water Works | bs ’65..103% Nebiesiille HL &P Ohio Tel ferv 6s 47 ticumond W W 5

STOCKS

ABC Brewing Co com 4Belt Railroad & St Yds com..

Cent Ind Pwr pid Ts Hom: Tel & T Tui Fu Wayne.. *Hook Drugs. 1 Ind & Mica isc Co pid Ts.. d rv Go 5s

d Ind Pub Serv pid 7s i Co Pub Serv Ind p

*Ex-dividend.

9.—~The

comprising about two-thirds of en-.

The, only other sizeable bullion

Lambs—

AT STOCKYARDS 2

Hogs Received; Prime Steers Up.

pushed" prices. down 10 cents the market was good and active today at the Indianapolis Union Stockyards. Receipts in 11 markets totaled 117,-

45,000 a year ago. At the close 180 to 300 ‘pounders sold for $9.60 to $9.75 400-pound class b py Sows ‘were $850 wo $9.25, top $9.3 In the lighter divisions 160 to 180 pounders sold for $9.40 to $9.65; 150 to 160-pound weights, $9.15 to $9.60; 130 to 150-pound class, $8.65 to $9.40, and the 100 to 130 pounders, $2.15 to $8.90.

Prime Steers at $12

Four loads of prime steers weigh- | ¥ ing around 1400 pounds and one

$12, establishing a new high silce

or more higher than last. week's close. The balance ‘of the market was largely: steady with an easier tone on in-between beef cows. Receipts totaled 1500 cattle and 600 calves. A scattering of common and good steers and yearlings sold for $6 to $9.50. One load of 781-pound heifers brought $9. Common to medium beef cows were ‘$4.25 to $4.75; cutter grades, $3.25 to $4. Weighty sausage bulls were $5.75. Early vealer sales were weak to 50 cents lower but closed active and steady, with the bulk ‘of the better grades at $9.50 to $10; top $10.50. Lambs were weak to 25 cents lower on receipts of 2500 sheep, and the Gosizalle: kinds brought $8.75 to $9,

2 8 ]

Pooooo: aS3838 i EH

.. 10, 500

9.60 9.05

frorresnt

Light ; ght Tights Good and qholes. i$ 8.90@ um

8.15 Lightweights— (160-180) So 2d

Medium Weights .. (200-20) Good and 3 A (220-250) Good and choice..

Hea we! of j ood and choice. . (200.330) Good and choice.. Packin

( ) Goo! : (275-550) Medium ° ‘ Slaughter Pi (100-140)

OO VOD VO © Ve DOW BI aan . Ou ome oe

dood and ‘choice. ;

08 8283 68 8s

— Receipts, 1500— 1580-900) Choice

C ’ * (900-1100) Good

het mt

OD OH IDO IDE a Rl oe]

ooo

Sizabicisinisiata

Cc (1100-1300) Good

POIOONIVONIOD

tt pt pb pot

. M (1300-1500) : G

ob; Sao

3383 ORY oO”

—-

(500-750)

2 Common, . (750-900) Good and choice. . Common, medium.

Good Common and medium Low Bay and cutter

gO! Cutter com. and med. bulk..

Vealers

' —Receipts, 600— Good and choice Seinis, 6

carom

(250-500) Good and choice.. re, an ocker (500-800) Good and Sholes " 6.00 m. and medium. 4. (800-1050) Good and choice . 8.00 . and medium. 4.75 Heifers—

Good and choice Common and medium

00 a iia te $

Go Common and medium

ui §

PO ONG 90

[1]

—Receipts, 2500—

5 (90-170) Good and choice. . and medium

(Sh Pat cep and nn quotations

Market Active With 10,000}

‘Although receipts of 10,000 hogs | $

000 compared to 71,000 last week and a)

nd the 300 to | Mid Ste

load weighing around 1250, sold for | Bendix last spring. . Beeves were 25 cents | prf§

0 Lig & *Myvs (B) 105%

19.05@ 9.65 8.55@ 9.40 |B & © »*34 & 5:50 Ch & Ohio

Sonn Su3naes

Gen ; Eullman “Ino Wee

PHONOO a SRO Gn

[noo ano SH

~1QWU 82 3788 83

ss sne

Atl Si

Houston LE . i

Beep Ral FERRER

pasubionane pusase-

FRENERETERS SEF

Pe LL NB Saas ps

Soanastuans &

FERERERRRR FRFRFRRR

RO .... ssebsnes Studebaker ... 3% Yellow Truck... 20

18a of Ca poet bt ON a Ronn s » SLATER

ton Elec Auto Li Sate: « . ec Round ov 17% Srevhout (r ) 3014

[imken Timken Det Axle 25

Mining— Alaska Jun tals

Isl Creek Coal.. Kennecott Cop.. McIntyre Mine.. 4 Fark Utah .... elps o ee Eos Tense. U S Smelters.. Amusements— Crosley Radio. . Lo2ws Inc

Paramount

Warner Bros .... Tobaccos—

8 16% 25%

A) 100 20 a 105% ar 24 Fhilip Morris Reynolds T Rails— Atchison

79% Atl Coast Lines if

1A a ie pid ptd a Ill Central 26% C Sou

K Tem Yallay. . Is Nash .

nion 14 West Be Jad

Equipments— Am Brake Shoe. Am Car & Pdy.. Am Loco

West. A 512 44%, Weatingh Prec. 1499 Utilities

An Power ‘& Lit 11 11 & T :

AT Am Wat Wks... 158% Col Gas & Elec. 18% Com & u Consol Gas .... Elec Pwr & Lit.. Interioro R. T.. Int Te x 4%

Lou G a Nat &. & Lit North Amer .... Pac G & BE Peoples Gas .... Pub E2rv N J..

Std Gas 3 Stone & Women 8% United Corp Un Gas p.. 184 Ut Pwr & Lt “A” a2 Western 'Union..

1278

S Rubber 39% J 8 Rilbber pfd.. 343; Miscellaneous—

1 Can 4 Caterpitiar Tract 39%

Allied gt ssd Dr,

3 Dons Alr.... Nor Am Av .... 83%

ry Corp ... hited Air new..

Union Carbide . U S.Indus Alco. 417%

Y) » Somstns Brev. sgn

uit «en... 32% ashi an Retail Stores— 17% Goods. 2¢

st & st a Natl 8 Stores i

Si oh ea .e Jewel Tea

oebuck.. , 981 \s 637%

Woolworth

- Aviation

Aviation SOPk . 5%

ft. 283%

Curls tr .. 6%

Wright “A’.. 20% T4Y%

. ANY 24% Chemicals—

Allied Chem ....238

11033

Sterling Prod of Un Drug (new).. 15

Tr Contl Corp..

Am Radiator ih

t ent re Johns © Manville 13912 Libby ens Gls 177

U 8 Gypsum .

V2 .. 11134 Household—

Congoluem

Kelvinator

102 105% 24 . 81% 81a (B) 59% 59%

5Ys { Belt Railroa Belt ‘Railroad: Cent Ind Pwr

Textiles—

Amer Woolen ... Belding Hem .... 1 Selanese ol

Collins Aikm C41

y Kayser Julius... 28 28

Local Securities

(By Indianapolis Bond and Share Corp.) h quotations do not repree ual bids or offerings, but merely the approximate market level d selling inquiries or

e followin sent a indicat based on buying an recent transactions.

BONDS

gy] a3 Tel (TH) 4%s ’61.. Tel Ft W 2%3, A H Tel & Tel Ft W 6 Indpls Railway Inc 5 6 [Interstate Tel

ac S L H Water ‘Works . '49 Trac Terminal Co 5s °57

STOCKS

ABC Brewing Co com

pfd Ts Home Tel & Tel bi wayne... *Hook Drugs

Gen Serv Co d Hydro Elec oy Ts . s Gas Co 6

5 Ya 80%

Am & For Pwr. 7 7 Va 11 11%; 182% 182% 26% 25%

Sou n Terre Haute Elec Co Union Title Co *E-Dividend

Bankers Trust Central Hanover

ase Chemical Continental Chicago Guaranty Irvin,

Manufacturers National Cit

y National Shawmut Boston.... 28

First National Boston

or of N Frankli Federa ce Great AL an Insurance. . Fajional Fire . Hartford

Phoenix “venes Westchester Fire U 8 Fire :

& Tel See 53 Kokomo Water Works 6s 38. 108 Morris 5 & 10 Stores 5s ’50...

& P 6Yas '47.. 47

Seymour Water Co 5s ’49 .... Indpls Water Co 3%s ‘66 ....

4-5 & 8t Yds com.. : 8 St Yds pfd.. 57

Ind & Mich Eee co pf d7s "i

Unlisted Stocks

(By Blyth & Co.) NEW YORK STOCKS

. FIRE INSURANCE Aetna Pire Insurance

w| PAL EQUIPMENT -

Y Assockation Reports High Level of Scientific Activity Reached.

Times Special NEW YORK, Nov. 9.—A review of reports submitted at the annual meeting of the Association of American Railroads here indicates that

2 | the railroads of this country reached

a new high level in 19368 in scien-

tific research activities, the associa« | tion reports.

“There is to be no let up in these activities, which are conducted with a view of bringing about still greater improvements in service and efficiency,” the association said, “and the work is to continue in the comsing year.” Outstanding were the studies made by the division of equipment research with a view of ascertaining what improvements can be made in the present systems in use by the principal railroads throughout the country for air-conditioning passenger equipment and what can be done toward standardizing that equipment in order to reduce costs of installation and maintenance. This research work has been completed according to the association and the results of the tests are now being analyzed. A final report has not as yet been prepared.

Steel Companies Co-operate

The railroads and the leading steel manufacturers are now conducting the most exhaustive tests ever undertaken to determine what further improvements can be made

i; | in the method of rolling steel rails. a As a result of the tests which are

being conducted at the University of Illinois, the quality of the rails now being installed by the railroads has been very greatly irmaproved, the review declared. While remarkable improvement have been made in recent years i locomotive construction, elaborate research work is now being conducted by locomotive builders and by the railroads in an effort to bring abouts still further efficiency

of 2 | in operation.

Locomotives More Efficient

The increased efficiency that has been attained in locomotive construction so far as fuel conservation is concerned can best be ile lustrated by the fact that in 1935, for. each ton of coal consumed in freight service, 8 1-3 gross tons of freight and equipment were hauled one.mile, an increase of 44 per cent compared with 1920. Extensive studies are now being conducted as to the adaptability of many of the new steel alloys in locomotive cone struction, the review said. Experiments are also being cone ducted by the individual railroads through the Association of American Railroads and by car builders to determine the extent to which steel alloys can be used in the cone struction “of both freight and pas~ senger cars. After extensive experi ments four years ago a new type, light-weight steel car was adopted

| as standard by the railroads of this

country. A newly designed box car made of alloy steel and weighing approximately 8000 pounds less than

na" | the present standard car is now

being subjected to a series of rigid tests to determine whether it can meet present ‘day operating ree

1 it | quirements. A design for an im-

proved 40-ton refrigerator car for fruits and vegetables, but of lighter weight than those now generally in use, is ih the course of preparation, the report said.

FOREIGN BOND INDEX RISES Times Special NEW YORK, Nov. 9—The indax for 50 representative foreign bonds rose to 58.35 on Oct. 31 from 57.94 on Sept. 30, Foreign Bond Associates

Produce Markets

rices quoted are paid for 3 mL in the country, while for de Rn in Indianapolis. the prices are 1 ont higher ach full case of eggs must weigh as is.” No. 1 JL strictly fresh. loss oft 29¢ || L1-6122 ENINIIEVGIIRTES ) Inter 1 act a, v3 97 29% | 1c, under’ 5 be. 10; Laghors bread nens, | | DE tH . . 3 he AVY le color a springers, under 4% Underwood E i 83 0c: ayer, 13e

00d a Leghorn breed springWorthingtn Pmp 3 35 se Se. Du cks, Sail pe 1a}. oe Se No. 2, 33@24c.

I “Joan will bring the total of long | Gen Motors Acc Corp 3)zs 51. a SHE Indn) : term issues since a. x , Ls, $0 fows South Stns as as a . 3,000,000,000 mar ( A Dr. Hjalmar Schacht, minister of = 7 Pata sah "0... 105% economics and president of the E 3%s '66 . Reichsbank, in a decree forbade ' “barter” transactions below 50,000 marks ($20,115) on the ground that . they involved exports at a loss and o . curtailed Germany's receipt of for- | Pub Serv N H 3% : eign exchange. Ballvay ile iE

Fruits and Vegetables

Sou 03 Union Pacific {Quotations below," .s@tbject*® to ‘chang ead

Wisconsin Gas & Elec 3s ‘63. -105% Wisconsin Pub Serv 4s’ 81 ~: 10543 _ are average wholesale prices o Seater: gitar ¥ to buyers Db: local Oregon

Investment Trusts eae box, Indianapolis . Cash Coal; Co. 3338 "WwW.

price abroad rose steadily to reach 1080 cents a pound abroad and <10.84 cents ‘on the London metals exchange. Domestic prices neld 33 | around 10 cents a pound until Friy | day when it went to 10% cents a pound.

Building Permits

Robert Mason, 6135, N. Delaware-st, roa Station 1225 E. Washington-s rviee Statio A pne-story build ion, 113 $7000. nnaughion, .267 furnace

- $2 Thomas Dyer, 545 Monon-av, garage,” Hurry Ww. Melville, 1371 Spann-av, porch,

Curtis Pub ".... 20%

TT a Dividends Deciared Chicag 0 Stocks Divider) VIPENDS DECLARED

: d rates are given in dollars (By Atkins, damill & Gates)

cents unless stated otherw

3 al Atlantic Ref . HE ‘I Asbestos Manufacturing 398 Associate Investors Bergho Butier Brothirs Cities Servic Commonwealth Edison Cord Corp:

TIONS, DRAWINGS OF P ECORDS; Etc. Top size 14x20"-In Colors—Any Paper

Bemis Letter Service 305-307 Merchants Bank Bldg.

133 sa Bec: -15 init Nov Vv. 30 N

7a Det.

1.50 % ri & gE

Peoples G &

Penn Tel 4s’ BE of Ca ence & W

Brown Shoe .... Coast, Gouns G&E

8 . . % | Dixie vor ) Ortex. oid 19% Collins Bi a E. Iowa-st,. Eiccuriom 1 jedi Creole Petrol Godch: SERIE ‘Jarvis D0 A Katz Dru RCO Ken-Rad

Butter—Creamery. 0 Butterfat. 30c.

BO = 03 03 , ~J=JOONench

5% Beatrice Cream’ 26 Borden Prod ny 3

RRR

A Distinct Advantage of a

Celtic Federal LOAN

ian ing} HR 27

pdt Fe aa

as »

Florida A

SahRoe cari QR C0

a5 RRR

Centurv Shares Trust Cor “AA" or “Accum’’ (Mod)

petors, 2 Cor “A or “Acc” (Unmod). Fy | Gor Trust Shares (Orig)...

13-gimt B fied

Do Maston Naw 8. So Am Go g &'ri . Stand Sa

WATER MEANY oid First Lien and ‘Refun d ’ Pive Sica URAINg Mons of 1 F185. Ce due

. ’ oe Bem, 41 BER

see

suas. e

58 2 ages 23

Busigraphs

14 CORNET CEDURES 3 = LUDING EMERGENCY El

; a - 858 a

Ra rw

Spe

. : 3

Bn #33

ney. (1001505). (By Thomas D. Sheerin & ool Ak. Washi ton-st, office. y u > "80 e Construction Co, 430 Blue No. Delici 2% ts Up. ¥ 188 d d. Ine 11 * ae nt Sa Soa sarage, . e ca ON 3% Shehes ; 138 sag | S00. Dickerson, 88 tat Is Monthly Reduction of Principal! Bonkist "aaa, $5. a Hm BAL BO an siegirical. § 115, gton-av, “Zeni carton, 13s. 20: Persian seadiess B4s-1135, a‘ , sictrical core, S. Mendian‘and Henry- 5517 RE t— ; Improved Indianapolis real estate 23 a8 sound Ib. crates $n 0. Cranberries, eC ieee Yi 1213 N. Temple-st, ‘Ni w Yo k C ; a" inv ei an equity worth oan 7 S—Persimmons, ind. $200 eins 208 w. Morris-st, garage, Pele) e Ay or ur and cents in a home of Jour ova own. You can pers isnt Southeastern-av, "+ (By. Atkins, Hamill & Gates) on a Nov. | wa 5 afford to improve it 25a the Improves ents $3500. 3 ig > , “3 . J v.49 the Mort. Alumimum Co Co of v+~133 B See. . 19: “the same, made by sai ; Bo Monthly payments "Gas and 4 ant ahany); MONTE Agi FATES and INMaren: A, D. p23, and the Indentures su fig Mone iy EERE "Call Us for the Details of a Si" the ‘mistand’ FEDERAL LOAN {ottioas™ Bendy of the rive Per ‘Cent Coie : : eT” | day of December, A. D. 1936. On the date | . “| Ba nlein olf Sembl || Invest With INSURED Safety -| "ide : 2 : Xa r as ~

rast on [ERE

*ssseseanse seesessanns

srsunens

aesne

sevens