Indianapolis Times, Indianapolis, Marion County, 16 November 1936 — Page 10

rena

during September

or 16

Building Boom in

PAGE 10

MONDAY, NOVEMBER 16, 1936

per cent more than in September last year, the Bureau of Agricultural Economics reported today. Gains were noted in all regions.

from the of farm ‘amounted to $754,000,000

Spring Likely, Flynn Says.

BY JOHN T. FLYNN

HICAGO, Ill, Nov. 16—In Chicago, as everywhere else, there is talk of the coming building boom. In Connecticut, in east- . ern Pennsylvania, in Denver and some of the smaller cities of Colorado and, of course, in New York, one creased building activity. most significant is the general expectati on that the Spring will see a wide building revival. Every wave of prosperity in this country, sometimes and properly called a boom, has been generated by the building indusMr. Flynn try. Different forces at different times have set building in motion and it has taken different forms. But always the surging forward of construction has sent a current of life through all other industry. Of course the war prosperity of 1916-1919 is an excep-

tion. #2 = =

N the late ’nineties the rise of the electrical industry and the beginnings of the skyscraper did the business for us. Lighting plants were being built in every city in the land with funds provided by mortgage bonds. At the same time we began to make over our business sections. The wide introduction of trolley systems with the building of power plants and right-of-way aided. This was interrupted at intervals—in 1901, in 1907 and again in 1910 by various causes, but always new factors entered to stimulate building. For instance, by 1911 we had wiped out and rebuilt over half our business buildings and in the five years before 1914 there was a great activity in erecting new apartments, new skyscrapers and new factories under the influence of very great technological ‘developments. Following the depression after the war, we saw several forces at work. The automobile resulted in a tremendous devolpment of the suburbs, the building of roads, garages, service and filling sta~ tions. n ” n HE moving picture industry resulted in the erection of some 20.000 theaters. And there was a brand new development of skyscraper building. The old eight and 10-story buildings of the first decade of the century became obsolete. Also apartment-hotel building became a popular form of construction. Now we seem to be on the verge of another building boom. But everywhere—in such widely separated places as Denver and Chicago and New York—I observe it is thus far limited to residential building and chiefly in the suburbs. It is also limited to the small house selling for from $4500 to $7000. It is influenced, of course, by the rising house shortage, but far more so by the immense changes in style and household utilities. If this household boom gets unfler way by next spring we may Jook for a very substantial rise in business. But the vast boom looked for may be a delusion, particularly if the government slowly withgraws from its spending program as private industry moves in. (Copyright, 1936, NBA Service, Inc.)

Fruits and Vegetables

tions below subject to change, are Ave legals prices being offered to buyers by local commission dealers.) Fruits—Pears, regon sc, 100s, box 3. Florida Avocados, 10s-11s-12s, box, 175. Oregon D'Anjou, fancy (100s), $3.50. Bananas, selected. Ib. 5c. Apples, No. 1 New York Wealthy, 2% inches up, $1.60; o. 1 Grimes 2'2 inches up, $1.85; . Jndiana, Delicious, 313 Shches ou No. 1 Virginia Jona $1.50. Lerons, Red Ball, 360s, $6.75; Sunfist, 432s, $5.25. Limes—Mexican, carton 2s, 20c; Persian seedless ea ne $2. Grapes, California . ~1b. Saale $2 15. Cranberries, C. C. Early Blacks, 25-1b. box, $4.15. duit e Melons—Persimmons, Ind., 12- crate, 81. Kumquats, Floridas, quart, Tse. Pomegranates, Cal.. 20-1b. box, 16c¢. 3 Vegetables—Artichokes, California, 4-doz. #83 50. Beans, Florida stringless, ham- " ‘Beets. home grown, doz., 30¢. case, .50, ly t: drum. $2.50. bag. 85c. Tots, julifiower, 11s[ichigan Mam- . doz., 60c. Cu$4; des. 95¢. Dill, . 45¢. Egg plant . 50. ale, home grown, . Iceberg, California ; 6's, $3: leaf, hi grown, 15-ib. $1: Endive, doz, . Peppers, , Florida, crate, $3.50; doz. 4S5c. doz., 50c. Onions, Indisna yellow.

. California,

cones | New Bond Issues 8° 6s. |

(By United Press) GO. Nov. 16. — Apples — Michigan [email protected]. t Potat Louisiana Portoricans, Illinois bunches. inois bushels. 40@85c. fornia Jugs. [email protected]. fornia crates, [email protected].

: @50c : Seren hives. toa Tse. » Produce Markets

quoted are id for the CURLY, while for the prices are case

BUSINESS TREND CONTINUES RISE, SURVEY SHOWS

Placed 9 Per Cent Below Normal; Best Mark Sinoe 1929.

Times Special NEW YORK, Nov. 16—The national business index in October continued the upward trend of September and rose to 9 per cent below normal, the highest October since 1929, according to the monthly survey of 147 trading areas of the United Staets conducted by the research department of Brooks, Smith & French, Inc. “High activity continued during October,” the report stated. “The

fundamental industries throughout the United States was reflected in

trading areas. Twenty-nine areas are now at normal or above-~the

gan. within 10 per cent of normal and 50 others within 10 per cent to 20 per cent.” : Continuing, the report said that the one-point rise of the national index in October to 9 per cent below normal compares with 25 per cent below for October, 1935. Of the 147 areas, 89 bettered their standings

remained without change. Best Areas Listed

~ The greatest. October gains with indexes improving 4 per cent or more over September, were registered in the following areas: .

Atlanta, Buffalo, Canton,

uooga, Dayton, El Paso, Evansville,

ington, Lansing, Little’ Rock, Memphis, Nashville, New Haven, Norfolk, Oakland, Oshkosh, Peoria, Philadelphia, Pittsburgh, Portland,

ego, South Bend, St. Paul, Syracuse,

and Wichita. The following areas were at normal or above in October: Abilene, Albuquerque, Atlanta, Bakersfield, Bangor, Boise, Charleston, W. Va.; Cheyenne, Dallas, Denver, Fresno, Grand Junction, Green Bay, Greenville, 8. C.; Harrisburg, Huntington, W. Va.; Indianapolis, | Miami, Peoria, Phoenix, Portiand, Ore.; Richmond, Va.; Shreveport; Spokane, St. Winston-Salem and Yakima.

CARLOADINGS SHOW SEASONAL DECREASE

By United Press ing of revenue freight for the week

or 6.7 per cent below the preceding week, the Association of American Railroads announced today. The decline was ascribed to a seasonal low in traffic.

corresponding week of 1935. Coal loadings amounted to 151,184 cars, a decrease of 13,414 cars from the preceding week, but an increase of 26,714 cars over the same week a year ago.

week and 1262 cars below the corresponding week last year.

19,077 cars, a decrease of 2889 cars

increase of 147 cars over the same weeks in 1935.

LOCAL CASH MARKET City grain elevators are paying $1.09 for No. 1 red wheat. Other grades on their merits. Cash corn new No. 3 yellow, 96c. Oats, 36e. Hay—No. 1 timothy, $1550@16;

falfa, first cutting, [email protected]; second cutting, [email protected].

(By Lyons & Co.)

Credit 3%s 61 ... D &L 3%s "61 3%s "65 02

bighest number since recovery be- |; An additional 36 areas are [Shell Un

over September; 43 declined and 15 | M

Albuquerque, Allentown, Altoona, a Chatta- |S

Fresno, Green Bay, Hartford, Hunt- |§

Paul, Terre Haute, |S

Carloadings for the week totaled : 759,318, an increase of 15.9 over the | 8

No. 1 clover, [email protected]; No. 1 al- | Soman &

NORMAL LINE

Where Business Stands Nationally

New York Stocks

satisfactory condition of nearly all | Bar

the high standings of the individual Ohio pat

Pet Corp Phillips Pet .... Plymouth Oil .. Pure Oil

49 Tidewater Assn.. 197% Un Oil of Cal.... 2342

Steels— Am Roll Mills.. 34% Beth Steel ...... 71% Byers A M 22 50 . 28%

Bros .... Youngst'n S&T . 85% 85%

135% 73%

Yellow Truck .. Motor Access—

Me.; Richmond, Saginaw, San Di- | sendt Tampa, Tulsa, Washington, D. C. | Buss" Ms

Lite .. Greyhound “B’”.. Joudaille 2 urra tew “uw Fimken Roll .... 7 Timken Det Axle Mining

Alaska Jun Metals

Houston, [Am

WASHINGTON, Nov. 16—Load- Wart

ending Nov. 7 decreased 54,857 cars Am Tim

Tiliar Philip Morris .. 79 Reynolds T (B) 60%

Rails Atchison

C. “as & Ohio 345 Chi & Gt W pid 9% CM& St Pptd 3% Dela & Hud 47% & W

sess

i Loading of grain and grain prod- | Mo P ucts totaled 29,327 cars, a decrease | Ny Gent of 4288 cars below the preceding Livestock * loading amounted to | Bou

from the preceding week, but an|{am Loto

g 2 hue RRAE FARES 3

Bod 00 ON

Reso FERRETS

8 i: j

Miscellaneous— Allis Chalmers.. 67% er Eh adh

7s 2314 121%, "121 85% 55. 55

-31Ye

alsEEEY a

PSRs 9

(By Thomson & McEinnon)

16 23% Ya

a 85%

31% 136%s 13%

“T4000 a3 0% B95 aR

Ft BD pb Fed 4 gn 00 oh © UV 00 =F »

00 B33 60 ~309 00 LABI~T ITH E FRSNTE BF

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522 FRR ERE

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ry Sees a

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Suba

3 &F

. | Douglas Air .. os NO . err T sere To Rircty New. . 25%

1 s, | Air Reduction... 83)

Ads acta, 15% 3 en orp. a op | Am’ nt Corp Pp 14%

High. Low. Clase. 72 2% 8 3% 21s 21% 242 24% Chemicals— 284 347 1532

43 | ling steers weighing 1030 to 1070}

43%, 100%

i bide ..101 Union Car Va 4310

U 8 Ind Alcohol 43% Drugs—

Inc La Un Financial— Adams Exp ..

7 20%, 15%

14%, 4% Jah Chesa Co ve 1g Comm Tnvat Trst 812 86% 86Y, Lehman Corp ..121% y 1213, Transamerica .. 16 : 16 Tr Contl Corp :. 10 97% Biilding— ) Am Radiator ... 2212 2 22 Holland Furnace 42%" 41 Int Cement .... 59% 58% Ela 3634 Ulen Cons 4 Household— Col Pal Peet . 17% 34 211, 24; 54 a 4 31 46% 46 46

Simmons: Bed .. Textiles—

Amer Woolen ... Celanese Corp .. Collins Aikman.. Indus Rayon ... Real Silk 13%

Chicago Stocks

(By Atkins, Hamill & Gates)

9 277s 612

39 15%

Prev, Close close Advance Alum ‘ 9 Asbestos Manufacturing 3s Associate Investors 61%, Bastian Blessing 16%2 Berghoff 113,

% | Butler Brothers

Central Illinois Publ Service.. 69% Cities Service 3% Commonwealth Edison ...... ..108

New York Curb

(By Atkins, Hamill & Gates) Prev.

Close, 127 38% 39%

. \ Close. Aluminum Co of American ..128 American Cyanmid ¢B” Am Gas and Electric.

Superpower Natural Gas “A”...

Canada “A” .... 25 and Die Corp.. _

waar scaunnanee: AIrWaYS ccsvees B

sesenas sonshesee ” &

"Unlisted Stocks (By Blyth & Co.) NEW YORE STOCKS

Bankers Trust Central Hanover ase

Chemical Continental Illinois ... Guaranty

Manuf: National City National Shawmut First National Boston

FIRE INSURANCE

Federal Insurance Great American Insurance .... National Fire :

"| Home INSUrANCE ...............37

Hanover Pire ........covesv... 36% National Liberty ....ceveescece.- 9% North River ........ aoran as

Tasessasnseare

33% 3% 1-rrisuasiansi a 55

Prev. | 130 to 150 pounds, $8.55 and the 100 to 130-pounders, $8.05

A | largely of

4'bu a ditects. Fat

LARGE SUPPLY PUSHES SWINE PRICES LOWER

Receipts of 11,000 Force All Classes Down 10 Cents.

Large receipts, totaling 11,000, forced hog prices 10 cents lower today at the Indianapolis Union Stockyards. The bulk of 180 ‘to 300-pound weights sold for $9.45 to $9.65. Sows were weak to 15 cents lower and sold for $8.65 to $9.25. Weights of 300 to 400 pounds ranged from $9.25 to $9.55; 160 to 180 pounders brought $9.30 to $9.55; 150 to 160 pounds, $9.05 to $9.50; to $9.30

to $8.80. - The general cattle market on all killing classes was weak to 25 cents lower with a run of 1500 cattle and 600 calves. Heifer Prices Steady Steer and yearling receipts were the lower grades, although three loads of prime. yearpounds were received bought to arrive at $12 Heifer prices showed little change. Most steer and yearling sales ranged from $7.25 to $9, a few at $10. Beef cows were $2.75 to $3.50. Top price for sausage bulls was $5.25, a few at $5.50. Vealers were steady with the bulk of the better grades at $10 to $10.50; medium, $8 to $9. Calves were steady with most sales at $5 to $7. Fat lambs held steady at Friday's best price. The bulk of the desirable kinds selling for $8.25 to $8.75, top $8.75. The medium kinds ranged from $650 to $7.50. Fat sheep were steady with ewes at $3.

HOGS

es POOOOOR alee) Thon

Nov. 9.

<r LooePD Tod caoow 1] 3-3 oow

Seren

14. » h 16. 9.45@ 9.65 Light Lights— (140-160) Good and. Medium Lightweights— (160-180) Good a

edium (180-200) Good Mediu

ium Medium Weights— (200-220) Good and (220-250) Good and Heaviweds ts— Ke (250-290) Good and (290-350) Good and

choice. . choice.

choice. .

©n wo

3 (425-450) G (275-550) Medium Slaughter Pigs— (100-140) Good and Medium.

35 88338 8% 53 3338 83

09 A O° Od Ee 8

Po Duo OO ve COLL VO 38 8358 a 23 538% 83

9% com m®

choice. . 9

500-900) Ch [email protected] (500-200) Chois : 3781000

C (900-1100) Good

DONO OMm DID) JID

5098 ©3063 ©9388 Ooo

Ear SENDA DEIN ga 4 -1 33

C (1100-1300) Choice

Senahrant:

—-

wh 034h 00 Ddobobasy AAI AD datndosace acano

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

‘Shas:

Low cutter and cutter Bulls, ‘good Cutter com, and med. bulk ... Vealers —Receipts, 600— Good and choice . pis

M RI 0s esha kw A hae eee eras Cull and medium

, Calves : (250-500) Good and choice..$ 6.00@. Common, medium 4. and Stocker Cattle $ 6.00 p

Ih cn 38332

4 an 30S a33

Feeder (500-800) Go (800-1050) G Common, medium. Heifers— :

Good and choice . Common and medium

A oan as 8

ah oo a3

Good Common and medium . SHEEP AND LAMBS —Receipts, 2500—

es— & 3 fn ¥ (90-170) Good .and choice.. 2.25 Common, medium. 1.50 baciareP and lamb quotations on ¢

; (By. United Press) CHICA Nov. 16. — Hogs — Rece! 38.000, \a IR 12,000 directs. nis fairly active, 10@15¢c lower than Top, $9.65: bulk good and ch Do $3.1524.00; Hos Fein Kinds, '[email protected] strong wel al yes sows, 10c lower; Cattle—Recei 20,000; calves, 3000. Very little’ Sips prime yearlings, both ifers getting action: steady; yearlings and light steers

grad reighty bulk ten tonnage heavy and ressed > huge local run; $12.10 paid for lightd heifers; several v $12: no Neighty steers sold; s

hts. $11.85; stockers and to 25¢ higher, ; about 4000 Western Grassers here: k Pd

best Jeeqer steers t $6. . $0 down: outside: on welg ty sa

$5.40. X ei 12,000, including Ard oeoady ind cadet Feraily tial bids at lower levels: An e day’s supply. but as ¥ x a ol $8. : no x better; slaug po $3.25@4. til : 16.—]

338 38

a tter kinds, $8.85 W.

Busigraphs

GROWTH OF SAVINGS DEPOSITS IN NEW YORK STATE

—"

FULLION DOLLARS

SEPTEMBER EACH YEAR Lib bill

! 3 !

TORS INCORPORATED INVESTORS

Savings deposits in New York State are growing steadily—and New York State is probably representative of the country as a whole. In September savings deposits were well above a year ago, while during the rast ten years they jumped 38 per cent.

RAIL REVENUES SURPASS 1935

Total of 92 Lines During October Aggregates ~~. 312 Million.

Times Special © WASHINGTON, Nov. 16.—Preliminary reports from 92 Class 1 railroads, representing 79.3 per cent of total operating revenues, showed that those rails in October: had operating revenues of $312,072,915 compared to’ $270,300,144 in the corresponding month. a year ago and $378,878,999 in the same month, 1930, the Association of American Railroads announced today. ; The latest compilation was 15. per cent ahead of the figure for the like’ month last. year, but 17.6 ver cent. below. October, 1930. Freight revenues of the 92 Class

000 | 1 railroads amounted to $256,979,067 oo | in October, compared with $225,520,-

162 in October, 1935, and $304,104,199 in October, 1930. Freight revenues in October, this year, were 13.9 per cent above the same month last year, but 15.5 per cent below the same month in 1930. Passenger revenues, according to these preliminary reports, from 92 Class 1 railroads, totaled $26,635,651 in October this year, compared with $22,789,829 in October, 1935; and $42,090,246 in October, 1930. For the month of October this year, they were 169 per cent above the same month last year, but 36.7 per cent below the same month in 1930.

|RAIL PICKUP SERVICE

INAUGURATED TODAY

Railroad door to door pickup and delivery service for less-than-car-load freight under the Interstate

| Commerce Commission’s recent decision was to become effective to-

day,: Pennsylvania railroad officials announced. Less-than-carload freight between many points will arrive a full day earlier than in the past, the announcement said. As a new feature, the railroad is to make allowance of 5 cents per 100 pounds to the shipper or receiver who takes the freight to or from the freight station by highway vehicle, it was said.

Chicago Grain Futures {By James E. Bennett *& Co.)

11:00 A.M,

Low 1.16%

14 1.00% 1.01 980% 92

aot 80% J18%

ess. 1.27 126% 1.27 sur. » 1 - BY Visical 27% 1 27 1.27%

| Money and Exchange

INDIANAPOLIS STATEMENT

TREASURY STATEMENT (By United Press) . ASHINGTON, Nov. 16. — Gover: ox izes and receints for the current oo fal year . 13, as compared with a , Last Year

Deficit .... Cash. Bal.

Pub. Gold Res

and Books Close Nov. Nov. Nov. Nov. Nov. - Nov.

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Nov.

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CAPITAL-LABOR SETUPS TESTED AT PITTSBURGH

Search for New Methods of Compensation for Employes.

BY RICHARD L. GRIDLEY Financial Editor, The Pittsburgh Press PITTSBURGH, Nov. 16.— This teeming industrial center has become the laboratory for better relations between capital and labor. In this city of steel, glass and coal, industrial leaders who employ hundreds of thousands of workers are searching out new methods of compensating employes to solve the problem of periodical labor disturbances. ) Two innovations have been introduced. One plan, pioneered by the Westinghouse Electric and Manufacturing Co., offer a “profitsharing” system whereby workers receive automatic pay increases when profits rise and reductions when they decline. New Wage Plan Adopted The other plan, introduced by the General Electric Co. and now taken up by subsidiaries of the United States steel Corp., seeks to base the pay of workers on the cost of living. If living costs increase they receive more money; if they decline, pay is correspondingly reduced. So far both the Westinghouse company and its employes appear satisfied with the company’s new wage plan. But the trial so far has been in a period of rising earnings. Successively higher wages have been paid to workers. ° . The “cost of living” plan, on the

| other hand, has been under fire

from steel labor circles. Labor leaders charge that the plan tends to “freeze” the individual's standard of living. . They say that if this plan had been in effect years ago the workers would not have been able to join in the mass purchase of autos, plumbing and radios.

CAR OUTPUT BETTERS 100,000 UNIT MARK

Times Special DETROIT, Nov. 16.—Automobile production reached thé 100,000 unit mark for the first time since July 11, Ward’s Automotive Reports said in its week-end review, Output totaled 104,290 vehicles, compared to 84,780 in the preceding week and about 105,185 in the 1935 comparative. The principal factor in the advance was the assembly plants of Ford Motor Co. which swung into volume production on 1937 models for the first time, the report said. : The service predicted that “the year ahead would be one of the greatest in the history of the in-

dustry, probably second only to 1929.”

INDUSTRIAL SUPPLIES .VOLUME INCREASED

Times Special. : * NEW YORK, No tors of ind . supplies, pushing hard for business, raised the September volume to a new four-year high, Mills Supplies said in its latest edition. The Sales Indicator registered 107.8 against the previous high of 104.1 in July and 96.6 in August. All sections except the Middle West and West enjoyed the increase and evem in these two territories many houses reported substantial gains. In the East the increase was from 121.0 in August to 131.2 in September; in the Southern

‘states, from 99.0 in August to 132.0

in September; on the Pacific Coast the gain was from 1289 to more

{| than 140.0. The drop in the Middle

West was from 8L1 to 76.5, and in the West, from 1282 to 119.3, the report Yes

By United Press

ing ¢ 25 cent a day wage increase for 2000 miners in the Tri-State district. The increase was the first since Zine concentrate prices advanced 50 soils 2 on to $31 on today’s market. With production averaging 10,000 tons weekly, mine owners increase in income runs:10 times more than the wage increases announced.

FLEMING CHOSEN HEAD By United Press ! CHICAGO, Nov. 16—Charles C. Fleming, Richmond, Va., has been elected president of Life Advertisers’ Association by more than 100 ad-

STOCK MARKET WEEK IN REVIEW

BY ELMER C. WALZER United Press Financial Editor : NEW YORK. Nov. 16.—American business shared its profits with its stockholders and workers to the extent of many millions last week and stock market traders veered their. deals to take advantage of new site uations developing on the prospece: tive spending of these vast sums in the holiday period. _ It is estimated that corporations this week ordered payment of some $80,000,000 in extra, special and ine creased dividends. Some of these same units and numerous others raised wages or increased customary. bonuses to be paid out at Christmas e. General Motors Corp. led the dividend payers with a $1.50 year= end declaration that will put $65,« 250,000 in the pockets of its common stockholders before Christmas. It likewise led in wages, bonuses and extra distributions to workers, by ordering a 5-cent-an-hour wage rise amounting to around $22,000,000 an< nually, boosting “appreciation payments” to $10,000,000 and increasing the scope of bonus payments.

Chrysler Votes Divided :

Chrysler ordered a $5.50 dividend, the largest in its history, and thus brought the year’s dividends to $13 a share. Chrysler a short time ago voted - a $4,000,000 distribution for employes. Dozens of other companies, larga and small followed similar procedures. Their contributions swelled the increases in payments to worke ers, including wage rises, bonuses and the like, to $130,000,000 for the past two weeks. It was estimated that more than 1,000,000 workers were affected. Much of this money will be spent before the year-end. It will go into retail trade, into movie box offices; into luxuries such as furs, watches, ifito automobiles, refrigerators, radios, and liquors to mention a few possibilities. On the foregoing basis, stock market operators concentrated their buying in issues they thought would: prosper. Early in the week, the mar< ket continued to gain at a fast rate until the Dow-Jones industrial aver age has risen into new high ground since 1931. Chrysler made a new high since 1928.

Profit-Taking Sets In

General Motors was at its best since 1929. Nearly all the store issues and mail orders made highs for the year or longer. Fur stocks. made new tops. So did some of the, liquors. Watch company issues and radio makers also were favorably affected. Then came the Armistice Day holiday. After that profit-taking seemed to gain momentum. Howe ever, while other issues were being unloaded, there was no diminution in the demand for amusements and mercantile issues. These two groups were among the few to survive the unloading of Friday with moderate

gains. Despite the favorable outlook for the motors, traders sold them late in the week along with steels, rails, oils, and utilities. When a company declared its final dividend for the year, there was selling in its stock and switching to issues with divie dend prospects. Silvers had a boom for a time when the price of the metal rose 2 cents to a new high, but there was a quick recession and the silvers lost their gains as quickly as they made them. Coppers received a setback also after the domestic price had been raised to 10% cents a pound. Weakness developed in the rails when car loadings made a greater than seasonal decline partly because of the seamen’s strike,

WHOLESALE SALES OF ELECTRICAL GOODS UP,

Times Special . NEW YORK, Nov. 16.—Net sales. of wholesale electrical supplies during September exceeded those of September, 1935, by 39 per cent and surpassed those of the preceding month by 9 per cent, Electrical Wiiojesalings monthly survey of Stocks of goods in wholesalers warehouses at the close of Sep tember were 46 per cent better than

September collections were 9 per cent below August, but 22 per cent improved over September, 1935.

TO MAKE DISTRIBUTION

Times Special WASHINGTON, Nov.