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

Trends French, U. S. New

Deals Differ, Flynn Says.

BY JOHN T. FLYNN——

NEW YORK, Nov. 12—The Frenchman is supposed to be the cannijest of humans in the man- ~ agement of money and credit. The Scot and Armenian may know how to hold faster to their coins, but they are no match for the French in the field of public monies and large-scale finances. It is interesting, therefore, to see what the Frenchman does when he sets about setting up a New Deal for his troubled economy. For M. Blum has adopted a serjes of measures relating to finances and credit to set alongside the agricultural and industrial and social measures already described in this department. First of all he has assumed control of the central bank—the Bank of France. That is, while not buying the stock, he has provided for the naming of a governing body and of administrative officials by the government. The government is therefore put in a position to use the facilities of the bank for public financing and in connection with Treasury policies.

u un z

HIS is a wise policy and, of T course, goes very much fur{her than our New Deal went. The President forced through the new Federal Reserve Act which increases the government's influence over the banks. But there is a great difference between the Bank of France and our Federal Reserve System. The former is a complete banking system in itself as well as a central bank. Next a moratorium has been declared to merchants, industrialists and artisans for debts incurred before December, 1935. It does not - apply to credit institutions or companies showing a profit in 1935! It is interesting to observe that it also does not apply to chain stores. There is also a moratorium applying to producers of agricultural products. We have had nothing like that here save some state moratoria for mortgages and the attempted Frazier-Lemke bill for farm mortgage moratoria, which did not have the support of the Administration. EJ ” =

PLAN is set up to give credit assistance to concerns in a

Mr. Flynn

abreast of

imes on Finance

PAGE 12

BIG CHRISTMAS TRADE SEEN IN RECORD SALES

Claims of Observers. Based on Increases in Mail Order Business.

Times Special CHICAGO, Nov. 12.—Trade observers predicted a heavy volume of Christmas shopping today on strength of record-breaking sales re- | ported by Sears, Roebuck & Co., and | Montgomery Ward, mail order

houses. Sears-Roebuck reported $49,200,311 sales for the period ended Nov. 5, an increase of 32.8 per cent from the corresponding 1935 period. Sales for the first 10 periods of 1936 totaled $387,932,818, a 27 per cent increase, Montgomery Ward reported Octo- | ber sales of $45,455,404, a one-month | record and 26.63 per cent highar | than October, 1935. Sales for the nine months ended Oct. 31 were | $265,598,051, third largest for the | period in company history, and 22.28 | per cent higher than in 1935. | The National Retail Dry Goods Association meantime reported un- | usually early volume of Christmas sales, which ordinarily do not start until after Thanksgiving.

"PRODUCTION PAGE OF STEEL DISTRICT GAINS

Times Special GARY, Ind. Nov. 12.—Pig iron production in the Calumet district of Indiana and Illinois = today jumped to a new post-depression high when the No. 3 line of blast furnaces at the Gary works of the Carnegie-Illinois Steel Corp. was blown in. In making the announcement, company officials said that the Gary plant now is operating eight of its 12 blasts. . The increase in operations brings the producing average of the district to about 75 per cent of capacity and this pace is expected to last through the remainder of the year, local executives said. Most of the rolling mills in the district are booked solid for the next several weeks due to increasea orders from automobile producers, it was said.

"difficult financial position because of the social reform laws passed | June 20, 21, 22. Our New Deal arranged for aid by Reserve banks to | certain enterprises. But the French limit it to those whose situation may have been made burdensome

by reason of government action in the passing of the wage and hour and vacation and other laws this year. Then there is a series of provisions for extending aid to exporters—chiefly credit aid. One interesting feature of these laws is the extension of the government's credit-insurance system to political and monetary risks of exporters arising out of the sale of French products to foreign buyers. There is therefore a striking difference between these measures and those set up by President Roosevelt in his financial operations. The French, of course, did devalue. But only when driven to it by the action of Britain and America through their devaluations. (Copyright, 1936, NEA Service, Inc.)

Fruits and Vegetables

(Quotations below, subject to change, mre average wholesale prices being offerad to buvers by local commission dealers.) FRUITS—Pears, Oregon Bosc, 100s, box, $3. Florida Avocados. 10s-11s-12s, box, . fancy (100s), 1b. 5c. Apples, 4 inches u % : No. 1 Grimes 2! inshes u $1. 1 Indiana Delicious, 2!'2 inches in : No. 1 Virginia Jonathans, 24 inches . Lemons, Red Ball, 360s, $5.75: 432s, $5.25. Limes—Mexican, 12s. 20c: Persian seedless, 84s-112s, Grapes, California Empoerors. 28. Ib. ‘crates, $2.15. Cranberries, C. C.

Blacks. 25-10. box, MELO Ind. 12-pint

Early

90. Persimmons, crate, $1. Honey Dews, vine- -ripened. 12s, $2. Pomegranates, Cal. 20-1b. box, $1.65. VEGETABLES—Artichokes. California, 4doz. box, $3.25. Beans, Miss. stringless, bu.. $2.15. Beets, home grown, doz. Broccoli. California, case, $3.25; bunch, 15¢. Brussyl ao per drum, $2.50. bage, N. 85c. Carrots, ne Town, Eis 35¢. 8 aliflower. 11s-12s, crate, $150. Celery, Michigan Mammoth, 75¢; medium, doz., Cucumbers 75c. Dill, home

u., alifornia bes $3; rown, 15-1b. basket, $1.35. Soc Penpers, Mangoes, home grown, bu.. $1.50. Mint, Jea., 50c. Onions. Indiana vellow, 50-1b. Dag oe Northern white, 10ib. midi um, $1.10. Sey: home grown, x . Peas, Western: Tel., hamper, pest

$3. t y 1b. bag. : Idaho Russets Potatoes, Tennessee Nancy "Halls, hamper, $1.40; Ind. arses “Possum,” bu.., $1.65. Spinach, H. G. broadleaf, ‘Squash. Acron, bu, 75¢. Turnips, 75¢c. Tomatoes.

Sa doz... bu., 60c, bu. 75¢c, Watercress, doz. hot house, 8-1b. bskt., $1.35.

(Py United Press) MOI 3161 35. Sweet” Botatoes—LouBa Bacehes. i a3.” Sginscn_Yiiino is, Tomatoes—California, fai ial Onion Market (50-15. Sacks) it

35@ i 1d nda llows. 25 50c; MichiRen velo @50c: | Michigan

foe ne Produce Markets

rices uated are paid for stock gat country. while for dcliveries in “Indians dlanapoils. 3 the prices are 1 cont higher of eggs must weigh

Srietly fresh, loss off 3lec. hens. 3 Jos, and over.

wos No.

Geese. 5c, Butter—Cream 3%c: No. 2, 33@34c. Butterfat, No. 1—30c: No. 2. 38¢c.

(By United Press) ORICAGO. Nov, 13. — Eges — Recainty Mo cars (2 days). 36c; extra firsts, aie: airfies. el A receipts, Sie. Ear Siar ts, 14.02% tubs. Extra firsts, Siil@aze: extras, 334s: ; Jo ale: specials, 32% @33%¢c:

yr Ah aise SE LS in Rate: daisies, oe

Market

whites, |

FILES APPLICATION ON BONDS By United Press WASHINGTON, Nov. 12.—The Federal Power Commission has announced it will hold a hearing Nov. 19 on the application of the Oklahoma Gas and Electric Co. for an order authorizing sale of $35,000,000 first-mortgage bonds and $9,500,000 debentures to redeem all of its funded debt now outstanding.

Chicago Grain Futures (By James E. Bennett & Co.) 11:00 High Low A.M. 1.147 1.14%

1.12% 1.12% 98%

1.01% 101% 1.01% 947;

1.01% y 95 91%

91%

42% 42%

.427b 423 .40

LOCAL CASH MARKET

City grain elevators are paying $1.08 for No. 1 red wheat. Othex grades on their merits. Cash corn’ new No. 3 yellow, 97c. Oats, 36c¢. Hay—No. 1 timothy, $15.50@16; No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; second cutting, [email protected].

Dividends Declared

Dividend rates are given in dollars and cents unless stated otherwis

Rate Per’'d Payable Dec. 10 Cc. 1 Dec. Dec. Dec. Nov Jan, Dec.

Books close

Dec. 1 Dec. }

ABI CUVOO

Dec.

Horn & Hardart. Kan City South Murphy Co Do Nat Oat N Newberry J J.. New Haven Clock 62% pid

— rt £3 0 83 pt 1s TTS PDD 1.3 bt bet et BD Rr DRO Ot bt ©

BIBI a ts

18:2 Do a % . Nor Pipe ‘Lines Ohio x) T% 14 Do 69

388

: HORII fans td INS th ad fh hhh fk

Bh ft Pb PARC NTR

ext Q

* Busigraphs

MONEY IN CIRCULATION (U.S. TREASURY DEPT) END OF OCTOBER EACH YEAR 5 i

STRYITITLES nS

Lo] [=r

THURSDAY, NOVEMBER 12, 1936

Trend in Business ‘Maintained

what mixed trend.

WEEKLY INDEX OF BUSINESS TREND

_ PREPARED BY ADMINISTRATIVE AND RESEARCH CORPORATION . NEW YORK 1926 = 100

JAN. FEB. MAR APR “MAY JUNE JULY AUG SEP OCT NOV DEC

Aggregate business activity showed a further moderate gain for the past week. Increasing automobile ‘production continued to be leading factor in the rise while other components displayed a some-

the

HOTEL ASSISTANT

Dean E. Rice has been appointed assistant manager of Hotel Lincoln in charge of convention, sales meetings and banquets.

New Bond Issues

(By Lyons & Co.)

Ask Allied Shares 3%s ’61 100 Arkansas Gas 4s ’'51 102% Associated Tele hone 5s Lo Am Tel & Tel 4%2s '61 102% B & O 4'%s ’66 101% 101% Beth Steel 33s ’66 99 Cal Ore Power Central Maine 4s 1 Central Maine Power 32s '66.. Central Ill Lite 3%s ’66 10 Cincinnati Gas & E 23s '66.. Cleveland Tractor 5s ’'34 Commercial Credit 33s ’61 . Conn River Pr D & o 37s "61

Cudahy P 4s ’50 Edison Te Boston 3%s '65.. Gen Motors Acc Corp 4s '46.. Gen Motors Acc Corp 32s ’ol Gulf State Steel 42s ’51 Iowa South Utilities 5%s ’66.. Indianapolis Sat Co 32s 66. . Kansas L P 4 Los Angeles G Louisville G & E 3% Metro Ed 4s ’'65 Minn Gas E & Dr 4s ’50 Narragansett Elec 3'2s ’66.. Chi & St Louis 4s '46.. Pacific Lighting 4'2s ’45 Peoples G = 2 Lite Wks '61. Penn Tel 4 .

101 10738 101s

104 105 101% 107s 10234 108%s 1037s 103Y4 103 Ys 110 10634 105%, 108% 106%

107%

11034 107% Southern Kraft 42s '46 100%, Union Pacific 3s '70 Wisconsin Gas & Elec 34s '63

Wisconsin Pub Serv 4s '61 ...105%

Investment Trusts (By Thomas D. Sheerin & Co.) 48

‘ (Mod : or “Acc.” (Unmod. ) Shares (Orig.) Shar

Tr. Tr.

U nlisted Stocks

(By Blyth & Co.) NEW YORK STOCKS

Bankers Trust Central Hanover

‘Manufacturers .. National City National Shawmut First National Boston FIRE INSURANCE Aetna Fire Insurance American Ins of Newark Baltimore American

an National Liberty . North J River

Money and tckange

_ INDIANAPOLIS STATEMENT

TREASURY STATEMENT (By United Press) WASHINGTON, Nov. 12. — Government nd pts for the current 1 10, as compared with a

RAIL FINANGES PARLEY TOPIC

90 Rails in Receivership or Are Reorganizing Is Claim.

By United Press ATLANTIC CITY, N. J., Nov. 12.— Chairman Charles D. Mahaffie of the Interstate Commerce Commission disclosed today that 90 railroads representing 26.5 per cent of the total mileage in the country and 22.4 per cent of the total railroad capitalization were in receivership or undergoing reorganization under Section 77B of the Federal Bankruptcy Act. Mr. Mahaffie discussed the I. C. C. task of railroad reorganization be-

' fore the forty-eighth annual con-

vention ef the National Association cf Railroad and Utilities Commissioners here. He blamed the recurring receiverships of a number of our largest railroads” upon “breakdowns” in their financial structure. Since 1870, he said, there have been more than 1000 railroad receiverships. “Whether caused by excessive competition, unprofitable expansion, over-capitalization, under-mainten-ance, unfortunate investments, fraud, internal dissension of decrease of earnings, the resultant loss to thousands of investors and damage to communities and territories has been enormous,” he said.

17 RAILWAY LOANS OF RFC PAID IN FULL

By Scripps-Howard Newspaper Alliance WASHINGTON, Nov. 12.—Seventeen of the 75 railway loans made by the RFC have been repaid in full, As of Nov. 1, repayments totaled $161,456,262, compared to total dis-burs-—~nts of $515,266,239 since the RFC was authorized to make railroad loans four years ago. The largest repayment came from the Pennsylvania, which borrowed $28,900,000 and has paid back every cent. Largest of the railroads still in arrears is the Missouri Pacific System, which has paid nothing on ils loan of $23,134,800. ‘The Wabash, now in receivership, also has failed tc make payment on its obligation of $15,731,583.

INTERIM DIVIDENDS VOTED BY TALCOTT

Times Special CHICAGO, Nov. 12.—Directors of

James Talcott, Inc., have declared two interim dividends of 10 cents

the ' common stock, both payable Jan. 2, 1937.

The dividend of 10 cents per share, which is payable to stock-

| holders of record Nov. 24.

/4 1

payable to all common shares of record at the close of business Dec.

mon stock now outstanding as well as 100,000 additional shares which

+ | the company proposes to issue prior | {

te the record date.

Times Special - NEW YORK, Nov. 12—The Distributors Group index of ‘33 public]; utility operating companies preferred stock prices closed on Nov.

reported today. The Oct. 10 figure of 90.5 repre- | 3 sented the high point reached in the current market.

By United Press WASHINGTON, Nov. 12. — The Department of Interior today

Long Beach Iron Works, Beach, Cal, for supplying val pipes ‘and other machinery to be used for the Imperial Dam desilting

works on the Coluigdo River.

1 Nov. 5.

per share and 5 cents per share on |

The dividend of 5 cents per share, | at

18, is intended to apply to the :om- |i,

UTILITY. INDEX IS OFF Sigs

217 at 88.23 compared with 89.37 on |) Oct. 24 and 90.25 on Oct. 10, it was

CONTRACT IS AWARDED E

BUYING DEMAND PUSHES PORKER

MARKET HIGHER

Weights of 160 Pounds and |:

Up Increase 5 Cents at Stockyards.

200.

New York Stocks

(By Thomson &

Oils— AMereda cess

Good buying demand sent hog!s 0 o

prices 5 cents higher for weights | 3

of 160 pounds and up today at the Indianapolis Union Stockyards. The underweights were steady and packing sows were strong to unevenly higher. The bulk of the packing sows sold at $8.65 to $9.25, top $9.40. The run totaled 8000 head. At the close 180 to 300 pounders were $9.55 to $9.75 and 300 - to 400-pound weights were $9.35 to $9.65. In the lighter divisions, 160 to 180 pounders were $9.40 to $9.65; weights of 150 to 160 pounds were $9.15 to $9.60; 130 to 150 pounds, $8.65 to $9.40 and the 100 to 130pound class were $8.15 to $8.90.

Cattle Market Weak

- The bulk of the cattle run consisted of lower grade killing classes. The general market was weak to 25 cents lower with total receipts of 800 cattle and 500 calves. The bulk of the steer and yearling crop of value to sell was quoted at $5.50 to $8, and a few heifers sold for $9.25. Most heifers, however, sold at $7 downward to.$4.50. Beef cows were $4 to $4.50 with the cutter grades at $3 to $3.75. The extreme top for sausage bulls was

$5.50. Vealers were steady with the A

bulk of the better grades selling at $10 to $10.50. Lambs were mostly ‘25 cents higher with the bulk of better grades bringing $8.50 to $8.75, top $9. Fat slaughter ewes were steady at $3 down. Receipts were 1500.

Receipts 5000

7. 9. 10.

Foaassit, | 9999993E

Liens Ligh (140- Ton “Goo » and choice. $ ium

Lightweighte— (160-180)

® —_ oS

Medina yes ights— ) ‘Good and (320-230) Good and Heavvweiz ts— 250.290) Good and (330-330) Good and Packing Sows— (275-350) Good .....even0e

choice.

choice. choice.

(275-550) Medium .. Slaughter Pigs— (100-140) Good a and choice.

HO EVO BO BO VOD © Ors Ort Nal =I DIN

9 9393 Od Od 9D 9d Sth MONS Han wo Sood

nyeceipts, 800—

(500-900) Cho: Cole ver a¥e [email protected] Media ve 7.0 0@ 9.00 Common. seseisees Bi28 Choice C5 Go

..$10,[email protected] (900-1100)

C (1100-1300) ‘ G

M (1300-1500) Gi

(500-750) G

Common, medium. Good and choice. . Common, medium.

(750-900)

Common and medium Tow cutter and cutter .

Bulls, good Cutter com. and med. bulk . : Vealers

—Receipts, 500— So and choice P ed

cr RW Aan DID) aF aT a QAR NN

S33 =

Dd Od 9933 93 ©33d 00 *33

(250-500) Good and choice .$ 6. Fi omer stosker C ttle eeder an ocker Ca (500- 800) Sood. 8 and Choice es 8.0 on, medium. 4. (800-1050) Good and chaice . 6. ‘Common, medium. 4. Heifers— 5. 4.

Good and choice ....... ied Common and medium ......:

gy sus 82 ks 2532 28

am Sana aw

ik pan nD

SHEEP AND LAMBS

—Receipts, 1500— Lambs— Spl, 18 -

Ewes— : : (90-170) Good and choice.. 2.25 mon, medium. 1.50@ 2.25 (Sheep and go quotations on clipped

basis). Other Livestock

=r 3 United Press) CAGO., 12.—Hogs—Recei - 000, Saag 11, 500 direc Boss , market slow: butchers. above lower than Wednesday's average: Tichter” weights. Ba 5¢ lower: top. | good and cholce. [email protected]: most JE 0-180 : har ower; > around “10¢ lower; bulk "etter kinds; ays

Cattle — Receipts, 7500: calves, 1500. Weighty steers weak on catch-as-catch-can market; yearlings and light steers. all grades, steady; common and medium lightEa ht killer steers very slow: gener:l bet not meh hanced, however. bulk better grade st ers Fa yearlings se $10 upwards; $12: several loads, [email protected]; de oD. choice heifers sent: middle grade heifers steadv; cows. 10@15¢c lower with bulk of crop cutters and common ef cows selling at $4.25, down $3.25; bulls l0@15c lower and vealers steady: outside on sausage ulls, $5.50; vesjers [email protected]. very few at $9. heep—Receints. 16.000. including 5200 directs. Fat lambs weak to i 25¢ slow. Tori Tittl : cha Senay. Joeainn n ios e chang early a ire $8.90; smell killers. si Sos.

lam SS a: A lambs

Ja native ky 3. western ewes. $3.1 s feeding Sigibie around '[email protected]. WAYNE. Nov. oe:

180 Ibs., 10 Jus ., $8.90: a 2 20. Is, $8.40" 120-130 lbs., $8.15; 100- 2 7.90: $8.25; $6.75. Caivis"518 30! lambs, $8. LAF. teady: 225-275 [email protected]; 190-235 1 170-190 1bs., $£[email protected]; 150 1bs.. $8.024.73: wo-130 1bs., $7.75 gd $8. Calves—Mari, Soc higher at 50 “down. Lambs—$8 (By Times Special)

3 JT JR 5 ki

awarded a $31,034 contract to the for

day: Cattle, 857: 322.

117; calves,

aa tera 10 Iraian Stocks for investment or-

i ADVISORY STOCK DEPARTMENT | Yi Sh. pushin, Same ;

1 Park

0 C10 asani 50 | M 9:[email protected]

ts Market % BL

Holes aris a -325 | w

Te Corp fegater Assn Un Oil of Cal..

. 24%,

S Steel U S Steel pfd . Warren Bros . 1 Youngstn 8 & T 86%

0 Studebaker Yellow Truck..

Motor Avena Bendix ......... 3

Bohn Alum .... Borg Warner.

Budd Mm

Eaton Mfg ‘39% Elec Ate Lite: . 46% Elec Stor 46 Grevhound how) 17 Houda 27

8 .. 42 Timken Det Axle 25 Mining— . Alaska Jun.... 1% Am Metals ... a

Ya Ya

Isl Creek Coal.. Kennecott Cop.. 60 McIntyre Mine..

Venadiom Amusenients— Fox Theat Loews Inc Radio Corp .. Paramount Warner Bros ... Tobaccos—

37 oa 134 8 19% 8% 16%s

83% 26%

pfd Gt Northern fd 3 Il C ral p a7

ve 4 N Y Ont & West 5% DOr Pacine “ene 3 R 44

R ion Pac West Maryland.. Equipments—

Am Brake Shoe. am Sar 5 Pdy.. 5

Gen R R Sig... Pullman Ine ... West Air Br.... 45 Westingh Elec © 145% ‘Utilities— ( Am & For Pwr. 6% Am Pwr & i%.. 107% AT we TT. Ya Am Wat Wks. Col Gas & Elec. . Comm & Sou... Consol Gas . Lit. Int Hydro Elec.. Interboro . Int

3td. Gas Stone ® Webster - United Corp.. 67 Un Gas Imp.. Western Union. .

Rubbers— Firestone ...... 34 5% Rubber |. 1 U 8 Rubber pid Miscellaneous— Allis Chalmers. :

y Burrou hs Add... Contl Caterpillar Tract 30% Crown Cork . 1% Curtis Pub .... 20% . 973%

La, 101% 31%

Natt Cash Reg. a

Owens Bottle m R sng E rh ic Pmp $27 Foods Am Sugar . 57 rmou 6 Armour 6% pfd. 82% Beatrice Creamy 283s

Uelrory En Io: Marshall Field oo

May, azar

| Natl evan Penney 3 J 0... in

ces

| (Only These Parable from Unlimited Taze

General Market Municipal Bonds

Union TRUST Co.

McKinnon)

11:00 Low AM.

; Safeway st

3% | Belt Raliro

11:00 Prev. High. Jaw, A.M. Close.

10118

283 aaa

Sears Roebuc ck. 10118 Woolworth ..... 64%

Aviation—

Aviation Corp . Boeing Alret Curtiss

Curt Douglas Nor Am

Untd Atrett PNew. 0

Chemicals— % Air Reduction .. 88 Allied C De.

5% 27% 2

RoiSaN; a Fa Sea

. 5 Te Nh. 43%; Union Carbide . "10412 U S Indus Alco. 40%

Drugs—

Bristol Myers .. 424 48% Inc

8% 6% 19 20% 78 15% 8%

20 . 20% 8 J 15% Zonite od .... 8%

Financial—

Adams Exp .... 15% 15% Als neny Corp... 43g 43%

15% 14% A Corp voee 99 29 Com Credit 5% 74% Com Invest Trust 88% 87% Lehman Corp 1330 123% Transamerica..., 16 15% Tr Contl Corp.. * 10% 10% Building. Am Radit 2212 213, Holland Purnace 41% ae Int Cement 3 59% Johns Manville (138% 1386 Libby Owens Gls + 9

Otis Elev 38 % Ulen Cons

Household— Congoleum .... 357% Kelvinator 22% roc & Ga .. 54 Servel In 31% Simmons Bed.... 47

Textiles— Woolen ... 9% 3% 97 di 1ate 14 14% . 30. ? 29 . 63 64 13 1 12% v 40%, 29%s 283 143, 14%

357%

Cel

Indus Rayon .... 41 Kayser Julius .. 29% Real Silk ...... 14%

Chicago Stocks

(By Atkins, Hamill & Gates)

Publ Service.. : and Machine....

Shad RS

nb Bt pf ND fh ed fd fh fd 3B

New York Curb

(By Atkins, Hamill & Salen) ? Prev. close.

Co of America..... 3% 132 39 3B

Cynam and Electric .....

. ses0sesscscgroe

ss00%0ssss0000cne

Local Securities

(Reprinted From Late

Times * Yesterday) | "8g me Indianapolis Bond

e followin

indicate the appro: based on buying and selling inquiries or Tecent transactions.

BONDS

B Ask. TH) 428 1 ...103 ..104

10472 105 1062 73

ABC Brewing Co _co &080 Yds ¢ Belt Railroad & St Pds So. Cent Ind P Pur

*Hook Drugs 1 Mich- Elec Co ‘pd’ 7s. n Serv Co 58 Int Hydro lee Co 1s Indpls 6s

*Ex-dividend

PAYS ON SUGAR CONTRACTS Times Special CHICAGO, Nov. 12.—Holly Sugar Corp. announced today that on Nov. 13 it will pay to farmers approximately $4,000,000 under the terms of its 1936 sugar beet contracts.

“BUSINESS EDUCATION

CENTRAL Business ig

Architects and Builders Bu Pennsylvania & Dacre Hund

FR construction tober was 45 per cent above the corresponding 1935 month, according to the F. W. Dodge Corp. Total amount for this type of construction totaled $79,736,-

ELIMINATION OF SURPLUS HELD AID TO FARMER

Speaker Says Prosperity Hinges on Ability to ‘Lick’ Problem.

By United Press ST. PAUL, Minn, Nov. 12. —The future prosperity of the American farmer hinges upon his ability to “lick” the surplus problem, Harry Hartke, president of the Co-Operae tive Pure Milk Association of Cine cinnati, said today. Mr. Hartke addressed nearly 2000 delegates, here for the convention of the National Co-Operative Milk Producers’ Federation. “The surplus problem will be licked,” he said, “not by regimenting the individual producer and forcing him or paying him to do something that is in the group interest. Rather, it should come through intelligent management of actual surpluses after they are proe duced.” 2112 Co-operating Units

A similar note was sounded by N, P. Hull, federation president, who said that whatever form the future farm plan takes, “it should be a farmers’ plan, paid for by farmers.” Governor W. I. Myers of the Farm Credit Administration told the cone vention that about two and one half million farmers now are marke eting some or all of their farm prod« ucts collectively. In recent years, he said, co-oper-ative purchasing of farm supplies and equipment has spread to 45 of the 48 states. The number of purchasing co-operatives reached a new high this year, at 2112, as come pared hd 1906 last year.

BROKERS ARE WARNED ABOUT LIQUOR LURE

By United Press’ TORONTO, Ont, Nov. 12.—One tario stock brokers were warned toe day by Securities Commissioner J. M. Godfrey cancellation of their licenses would follow proof they were “taking unfair advantages” of their customers by serving them “unlimited quantities of liquor.” Godfrey's warning followed ine vestigation of complaints that “wild parties” were being staged by a local broker in his home. “We can not prevent brokers from entertaining their friends,” Godfrey said... “That is quite outside the jurisdiction of the Securities Commission. If, however, I found a broker taking unfair advantage of his customers by giving them unlimited quantities of liquor I would certainly cancel his license.”

$300,000 CHRISTMAS BONUS 1S ANNOUNCED

By United Press KENOSHA, - Wis, Nov. 12—The Simmons Co. announced distribution today of a $300,000 Christmas konus to its 12,000 employes in 63 cities of the United States and r Canada. Each employe will receive’ $25, Alfred H. Terrell, senior vice presi dent ‘and general manager, said.

For This | Unpredictable - Weather..

Radiantfire Chase the Chills

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Radiantfire No. 309

You can buy a genuine Radiant - fire Gas heater 10 match your fires place for as little as $2 down sad

$1.39 per $ 1 7.95

month. Cash price in “Your Municipal Sersant®

Bassin 5

Sar