Indianapolis Times, Indianapolis, Marion County, 18 November 1936 — Page 16

NRA to Be Revived

¢ Abreast of The Times on Finance

PAGE 16

WEDNESDAY, NOVEMBER 18, 1936

the National Fertilizer preceding week.

“Index at Sie The wholesale commodity 7p to 80.6 for the week ending Nov reached since November, 1930. The index compiled by Association was 80.2 for the

ice ig PE advanced . 14, the highest point

by New Method, Flynn Says.

BY JOHN T. FLYNN

EW YORE, Nov. 18.—A week ago I suggested in this col- . umn that the mystery of the President's silence about NRA during the campaign and his refusal to commit himself was to be found

in a contemplated plan to revive the NRA through the medium of : the O'Mahoney bill. This turns out to be true. It is to be accom- : plished by a plan for licensing corporations engaged in interstate trade and laying down conditions which corporations may operate over state lines. The original NRA was .put together in feverish haste. It sy was jammed through Congress _under the pressure of emergency * excitement. It was discussed not “at all. To avoid repeating mistake, Congress must understand . thoroughly what it is doing if it _ makes an attempt to revive the “NRA. *. A national incorporation law has Jong been desirable. Corporation _ charters are now issued by states. These charters confer upon their “holders vast privileges.

= EJ VER a period of years corporation lawyers have invented * first one and then another scheme for making these charters service‘able to adventurers and promoters. Almost no thought has been given

Slo the public interest, and none whatever to the economic significance of these developments. The subject has now reached a point where state reform of corporation charters is impossible. If one state tries to rid its laws of bad s.corporate practices its corporations pick up and leave. They can go to Jersey or Delaware or several other states known as charter-mongering states where charters can be had on _the most favorable terms.

{For this grave abuse there is but ‘one remedy—national incorpora‘tion laws or, at least, national licensing. This, however, is one thing. ‘The NRA is an entirely different ‘subject. ¥ A national corporation licensing ‘Jaw to protect the public from the ‘tricks and devices of modern corporation practice is one thing.

. = = » ' A CORPORATION law as a 4 AX round-about means of re‘viving the NRA Is a wholly dif-

‘ferent one. . If however, the President persists dn this course it will be important to make another distinction. If the igovernment is going to try to force employers to adopt fair labor standards, hours, wages, etc., that is one thing. If it is also, at the same time, going to suspend the Shérman anti-trust law, as it did in the NRA, and permit corporations to unite to make rules and regulations governing trade practices—that is an entirely different thing. The O'Mahoney bill seeks to do this. When the NRA was adopted and administered there was a tremendous pother about labor, collective bargaining, better wages. But very little was said about trade association control of trade practices, pro‘duction, prices. Before, therefore, anything like this is attempted again, plenty of . discussion would seem to be in

order. (Copyright, 1936, NBA Service, Inc.?

Local Securities

%. (By Indianapolis Bond ‘and Share Corp.) "The following quotations do not reprent or offerings, bit Jogre approximate market leve \ n > and. felling inquiries or gy

Pr Anma ua

i wr

82 ss==paRssus Suze 2.

(By Lyons & Co.) y Bid.

EERE 3 > 25

2 #

B33e55553858 28.

253 FEEer

88352 ° 8 Fae

238 SS8383%

mercial Sredn 3%s "61 | kL es n.

238

[oy

& PEFESTITITIEG #

5 '66.. Crssente . I |

one

this

FHA SUPPORTS CAMPAIGN FOR HOME REPAIRS

Stresses Care of Property to Avoid Excessive Depreciation.

The Federal Housing Administration is giving its full support to a campaign urging the public to repair homes and other property to prevent discomfort in the colder months and to avoid excessive depreciation, R. Earl Peters, Indiana Director of the Federal Housing Administration said today.

“Our part is to encourage granting of credit for such purposes by insuring loans made by banks and other finaneial institutions,” he said. “Loans up to $2000 are available for repairs, alteration and additions to

Mr. Peters said.

In the case of business structures and certain other types of property, the limit is $50,000. Credit for acquiring machinery and equipment may be had in amounts exceeding | $2000 up to $50,000 if the installa- | tion is Pnade in specified types of property. The loans are repaid monthly, Mr. Peters said.

“One of the main benefits that the ‘Modernize for Winter’ prograni should produce, is an extension of building employment and business well beyond the usual letup,” continued Mr. Peters. “Business concerns and lending institutions participating in the movement report an unusual amount of activity for this time of the year.”

Total modernization loans in Indiana as of Sept. 30, amounted to $10,057,469.09. Indiana lending institutions, contractors and building supply dealers have given sincere co-operation in the drive, the director said.

Money and Exchange

INDIANAPOLIS STATEMENT Slearings 2,704,000 Debit 8,377,000

TREASURY STATEMENT (By United Press) WASHINGTON, Nov: —. Government

18. expenses and receipts for the current fiscal vear to Nov. 16, as compared with a year

ago: - Io} Yea ast Year 83. 651,008, 14 fea $2,939,399,644.22 1.533 9 536 1.376.408,187.31 6.82 i 562, 991,457. un 1, 476. 758. 1317.

Expenses,. ceipts .. Pee cit 1,115, ash. Bal.. 133, Pub. Debt. 33,789, Gold Res..11,119 Customs .. 161,

4,322. 594,322.76 "145, 190, 190.25

Dividends I Declared

Dividend rates are given A dollars and cents unless stated otherw Book Rate Per’

d Payable close

0 Mapes ‘Consol - May Hos Mill A’ Mayer O

1 Skelyol Bos i 2 ellyOll p-

pfd . Sterchie Bros .

ST ft fob fb bY

3 Nov. 30

Fruits and Vegetables

(Quotations below subject to change, average wholesale a being i SR b! 3 commission dealers. )

00s, 10s-11s-i2s,

3 Hi

* Box: 3.60;

u O50: No. 1 Grimes 2% ingens u ches, ub sho; Indiana. Delict - 2% Per up Noss No. 1 Nirginia Jonathans, ak J nches up, $1.50, Lemons. 11, i 75: *sunkist, 432s, $5.25. Lim + ex carton By ite, Rn I roi > e Sian berries, Ee C.¢ Early

L. 33 % i Pate,

Box. 3 ornia, 4 oz. B a stringless, 31 Beane} Poi grown, es 30c ssl outs. ¥ er din, $2 ru ; i” Bot. "ba ag. Carrots, 35¢. auliffower, 11s$1.85. Celery, Michigan Mam75¢; ‘medium, doz + Cu- . $4: doz. 5c, Di hes TE ERE. plan

$1.50. home grown, " Lettice. Pe California hom

1255 8 “Be

atercress, house. 8-Ib. NE Ss.

Chicago Grain Futures (By James J "Baniigit i Cu.) J . “ML.

Ll Td

Po FES 2

giz

sas PEE FE

rae

aie #

NEW YORK; Nov. 18.—Fidelity Fund has declared a dividend of

MOTOR TRUCK PRODUCTION : PASSES 1929 FIGURES

MONTHLY “AVERAGES,

R CARS

rt 1

SAND UNITS PRODUC

——

TRUCK

Pee

‘te 8 88

THE PARKER CORP. GENERAL DISTRIBUTORS

In the first nine months of this year more trucks were produced | in this country than in the same period of 1820. Of the 3,500.000 trucks now on the road approximately one-quarter are used for agricultural purposes.

S. DEPT. OF COM

INCOR TED INVESTORS

New York Stocks

Amusements— Loews Inc eens 88 Paramount ...... 23% Radio Corp cane

homes and all types of property,” |RKO

20th Cent Fox... Warner Bros ...

Aviation—

Aviation Co .. 6% Boeing Aircf . 32 Curtiss Wright . -6 Curtiss Wright A 21% Rouglas Air ... 75% Nor Am Av .... 2” Sperry Corp ... nited Air Pines Tos Unitd Aircft New 257% Trns Contl-West 18%

Building

Am Radiator ... 10% Parker Co vee 23 Gen Asp halt ceo. TY Holland Furnace ai Lone Star Johns Banville ‘14114 by Owens Gls 80 Otis Elev ..... T% Us Gypsum Lid Warren Pros ... 117%

Chemicals—

Alr Reduction... 84 Allied Chem ....23 Am Com Alcohol ii Com Solvent s ee 38 Ya

) 2

de U S Inds Alcohol sia Am Home Prod. 51%

Drugs—

Co Pullman Ine ... West Air Br 45%, Westingh Elec .147%

Adam A

Comm Invest Tr 8 Lehman Corp Transamerica .. 16% Poddges armour 6 rmour Hu gh,

n Foods Hecker Prod ... Holly Sugar .

Wiles .... Natl ® Biscuit cons Natl D Prod .

Household— Col Pal Peet ...

Tr £ouRoleum

Kelvi ii. 22% Mohawk "car Det. i 31 & Gam Simmens amble oe 47% Mining—

O° 8 Smetters. LA Er Miscellaneous— Allis Chalmers i

mn ch & Fdy Bitrouehs. Add. . fat srownt Cork’ .... 8

bunch, oh, Dee:

erwood ‘E a Pm. 3 Motors—

Auburn o.oo... 33% C 137

| Budd 119 Hi ton M . Hew Hl) Bo a 03% 1. Bat. . Houdaill otor Whee Stew Warner

agile

SSESEaEE 2ST unastd

(By Thomson & McKinnon)

High Low A.M.

4415 4 146% 16s

147 7 94

13908 1281, 1612 ei

pes oo SIDI

FF BERESFESAREE SER

BRSR.8282528206

w aR FREER

—- or

ry -

wr BosaSsuasagerlis | vops,

wat

Ww a [od - >»

TI 28 =

ge Vn Opt Fran ali SiS

= ee +

3% Allied Stores ... asd Dr, oods

hymottn 0 Pet we 46% mouth « 20% Coens 18% or 39 26%

Tidewater © Assn’ 21% Un Oil of Cal... 23%

Ball Atchis 76% Atl Coast Lines. 45% B&O 23V Can Pacific Ch _& Ohio 4%; CMQ& P.. 1% Ca & St P ptd 3%

PanIohS a SE

jh 9 oS8S5NR

EERE

R . Union Pac 136 West Maryland.. 9%

Retail Stores—

DID DI DO

w BAO BSA Aha a

Macy R H ... McCrory St .... 23 McLellan St Marshall Fi

DEIINIMBICLI DINJDIre 2R8RY

year ubber .... 40 3 Rubber pfd.

A Textiles—

Amer Woolen ... Belding Hem ... Celanese Corp . Cluett Pea ory: 7 Collins Aikman.. 6

ee Youngstn 8 & T 87 Tobaccos—

% | Am Sum

Tob 26 Am hace B00%

ar Bhilin Morris . Reynolds Tob B gor Utilities—

Am & For Pwr . T's Am Power & Lit 11's ATS& 189%2

| Bulls,

rv So Cal Edison . Stone & Webster Bn United Corp . Un Gas Imp . 1 Ut P = L “A”.. 3% Western Union . 95

Produce Markets

e- prices quoted oe Rei for gathered in the country, while for J eries in pentyl, the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.) po Xggs~No. 1 strictly fresh, loss off, 3lc Heavy breed hens, 5 lbs. and Ns 136; under lbs., 1lc. Leghorn breed heavy, Be. Colorado Spr er ri: Pog Oh bs., 10c: over. 12c. Heavy springers, 4% "lbs. and over, 12c; Ll oh ibs., 10c. Tes 9c. Ducks, f he. and up, 1 bs., 8c; under 8 lbs. an —

"Turkeys. You toms, 14 lbs. and over, 14c young hens. 10 lbs. and over. 14c; old hens, lic; old toms, 9c; No. Butter—Creamery. No. 1. 3860306: No. 2. 32@33c. Butterfat—No. 1, 30c; No. 2, 28¢c.

Building Permits

Indiana Farmers Mutual Insurance Co., 21st and Meridian-sts, new 4-story office building. $90,000. dvenak nk Dawson, 6416 Ferguson-st, reroof

$1 Holiness Church, Gale and E. 30th-sts, garage, $50. Indiana Navals Store. 16th-pl and Mis-souri-st, warehouse, $3500.

xi Ewes—

INVESTMENT AND BROKERAGE SERVICE

WL LYONS & C0.

INDIANAPOLIS"

- MOST SPECTACULAR

UTO

‘Open 10 A. M. to 10:30 P. Thraugh. Friday, Nov,

PORKER PRICES REMAIN STEADY

AT STOCKYARDS

Heavier Weights Advance 3 5 Cents; Best Grade - Top Is 338.

more Union Stockyards. At the close weights between 180 and 300 $9.65 with the top price paid for choice 225 to 250 pounders. Sows were steady, selling for $8.65 to $9.25. Receipts totaled 8000 compared to

20 . 10,000 yesterday.

Heavyweights of 300 fo 400 pounds sold .for $9.30 to $9.60; 160 to. 180 pounders were $9.25 to $9.55; 150 to 160 pounds, $9 to $9.50; 130

7|to 150 pounds, $8.50 to $9.25 and

the 100 to 150 pounders, $8 to.$8.75.

. The cattle market was very ac‘tive in all killing classes; prices were steady to strong. There was only a small amount of steer beef

in the run of 1000 cattle and 600 C

calves. "Vealer Prices Lower

Most steers and yearlings sold for $6.50 to $9.50 and a few choice grades for $11. Some heifers brought $9.50. Beef cows were $4 to $450, the cutter grades $2.75 to $3.75. Weighty sausage bulls were $5.50 and beef bulls, $6.25. Most vealer sales were 50 cents lower and the bulk of the better

grades brought $9 to $9.50, Calves’ Ba % | were steady to weak . wih. prices

ranging from $4.50 to $7. Fat lambs were steady to strong with the bulk of better grades bringing $850 to $9. Sheep. were 25 to

% | 50 cents higher with fat ewes quot-

ed ‘at $3.50 down. . Receipts were 1200

to £ = Q a. 1]

. Top 75 2: 9.75 9.13 9.

75 9.65 9.65 9.65

5000 8000 360d

oo 29 oePoooo F

LV Bw wo: 22353333

poLo0oS S998 Ann 9958 Ja 2

3 ®

Light Lights— (140-160) Good and

Lightweights— 160-180) Good a

ium (180-200) Good

ium Medium Weights— (200-220) Good and (220-250) Good and Heavyweights— (250-290) Good and 4200-350) Good and Pac King Sows— pes 0 {ooy .

choice. .$

38 38:2 32 23 334 88

choice. choice.

choice. . choice.

83 2283 42 53 8133 3

(426-430) Good . (276-550) Medium ......... Slaughtes Pigs— 100-140) Good and choice. . Mediu

2 9293 °° © EL33 2°83 PO EOD OO © POO OO

00 EMD LO LO OND

(500-900) ood Medium ...ocoaes +. 6. COMMON <sseasena 5B. Choice .......a... 10.25 GOOE ...icnriennss

Medium ears seus Common Ghoise

Medium ta Choice Good

(900-1100)

essesanas

(1100-1300)

©Sa0Sonn 28538355 0339233® Te

(1300-1500)

* (500-750) Goo Common, medium.

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

..$ [email protected] .25@ 9.75 4.250 8.25

Common and mediu

m Low ws and cutter Cutter com, and med bulk . Vealers —Receipts, Good and choice Sceipts. 600 Medium owt Cull and medium

853 no 300

(250-500) Good and Sholee * Common, (500-800) ood

(800-1050) Good" and on Common, Heifers—

- Good q and choice ii... 0. Common. and medium

aon BR oe 2 BB 238288

w »¢ 23 83 52 3338 88

» om

Good Common and medium SHEEP AND LAMBS —Receipts, 1200—

Lambs—

88s

> 03D

Gre ammo

(90-170) Good and choice. .

ommon, medium . (Sheep and lamb cuotations i basis)

pounds ranged from $9.50 to|s

Receipts ;

882

New York Bonds

(Reprint From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) t 20

20 Util.

seas 93 Tae asain S08 3 1 Ne itd RN an 6o% by Sta YN Standard Btatistion)

U. 8. GOVERNMENT BONDS (By Abbott, Proctor & Paine) Treasurys

Close. 1383-5 fea Nas ant reeees 12008

ssssesnenecsnsnnadid

Sesssasssiavncnts

rt anata Sa Ta eisaeaas 108.31 esseeaase.-100:15

109.25 1 asassesnsay sess 108.24 108. Hr 06.08

101.30 7 rei )uGE 3 nna - 104.08 nln 60 sasatiescensares SIRES

saves sasians

1964 1942-47 Todays’ Bond Leaders—

lis Ch 4s ’4 . al Roll wil 4%s '45 .. hi &

ne Star Cement 3s’ Rem Rand 4%s '56

DOMESTIC

rn Alleg Co M4 ciacesnnnane 2 Ht Sorp Bs bs 49 28

Balt & Ohio 4 ‘60 Buff Roch & bs 4%s8 '57 Beth Steel 4%s '60 Chi Milw & Chi Milw & St P bs Cleve Un rm 5s ’ Clegv. Un Term Sas Col Gas 5s May 52 .

Chicous Siocks

(By Atkins, Hamill & Gates) Prev. close

Adams Manufacturing % Advance Alum

000. Asbestos Manufacturing

Butler Brothers 15 Central nines Publ. Service. . 70 Cities Serv, 3 ts Edison ed Cord Corp cane san Crane. Co ...cauvsvssns anes seans re ated Biscuit . Dayton Rubbe

Economica. Electrical House old . General Sugar 4

seacesacnne sssesasece

a sscsssnecse

redge avseveree 2

ish Bite

McGraw Beg

be Li - Noblitt ‘Sparks . thw west Ww

Nor Perfec rele Public “service North I t. ui % a ckyard Signode S v3 Standard el ike Preferred ves Swift juternation ional

Schwitzer m Dish btis ibn

New York Curd

(By Atkins, H Hamill & Gates)

: Noon. Aluminum Co of jAmetica ia

ev. Close.

X can Penroad COI'P .c..ccccies Spencer. Stores .....c.eseieves 9% Root. . Pe jroleum . Sevan everatave i Segal Lock 3

oe crsscsinastesccace

£ . tutz a Motors asssssisasasscase "echnicolor .

close NH NY NH & Har 4}as '67 r Bros

Banker: Central Hanover Chase

19% American In i | Bitimore s of Newark... City of New York .

hb S623

+2107 oe anit

‘43 Ssssansanne

—_ FEF FEF

22385

spe tttenesess 80 63 «.i.iniiel 89

22332228 por = rr

bub dh fed 2823

¥ Gent 4 s 3013 old) +... 93 NN ui Cony 6s aj 11

& Hart 6s 8

Werte tern Mary Weste:! Western, oon Youngst'n 8 &

8s 7. Ss "60. . T 45 '61......1 & T 3%s 51... FOREIGN

Argentina A 6s 57

Australia {3 zl 88 41

cesses

Tid Se

(By Blyth & Co.) NEW YORK STOCKS

s Trust .

. 64 tieeees conan 118% %

Aetna Fire Insurance ...

“ene

Franklin Fi

re 38 | Federal Insurance

Great Am Seat A rican SE nsurance Hartford

- LOCAL CASH MARKET City .grain elevators are paying $1.11 for No. 1 red wheat. Other grades on their merits. Cash corn ‘new No. 8 yellow, 94c. Oats, 35c.

4| Hay—No. 1 timothy; $15.50@18; No. 1 clover, [email protected]; No. 1 alfalfa, |

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

:| see

WOOL GROWERS BENEFIT FROM RISING PRIGES

Group President Reports Sale of 60 Per Cent of Stocks.

Taking advantage of advaheing prices, the Indiana Wool Growers Association has sold approximately 60 per cent of its wool stocks at prices that will make possible a favorable settlement, T. I. Ferris, president of the association, said today. “Starting last March and cone tinuing until October of this year, a concerted drive was made to dress down the price of wool,” Mr. Ferris said. “However,” he continued, “during the past 30 days, the demand has overcome the opposition

Bi and now wools are bringing nearer

their full importing parity.” The price of wool is one of the barometers used to judge business conditions and with the continued

‘a | necessity for wool importations and

the fine way in which the sheep industry fits into the practice of general farming, there is great ope portunity for increased income

% | through an expansion of the sheep

industry in Indiana, the co-operative leader said.

B. & 0. Railroad Recalls

Seventy Men

Times Special WASHINGTON, Ind, Nov. 18.— Seventy additional men ‘were ree called to work at the local B. & O,

Railroad shops yesterday to'secongdi« tion coke and baggage cars.

Other Livestock i

(By United Press)

Nov. 0000" “aired. Marked

CHICAG! 33,000, includin 1 her

t id ur ite Tio 5 Loe Sif 5; out,” 150-180 lbs. $8.85 XI good to choice strong weight i

nsorted sows i ater trading slow; uth iter than

Ue—Receipts. 10,000; 1500. ub

cal lings an Sa oer spe Sik steady but in liberal Supply. ala Kinds undeftont SR 5, es SCA. -lb. upward; earl Jeallin S, ha 10; e held her; Beiterd rs up to $11.75; all’ arads heifers = cows 10@15¢c higher; bulls steady and vealers 540 25¢

rp 11, 00h, includ 3400 Fat ready in fairly broa

to stra : 8 king lambs ia “native lam d save

directs.

838: a 3 TO i oat nue hy 3 aS

$100.10 $5,000 2 Years to Pa

MORRIS PLAN RTPI GRP TRL TT {EE TT

NOTICE

Trustees Under Plan

of Indianapolis

Reorganizal

cates.

_ the cial Tt Ri

PAYMENT OF COUPON NO. 4

Certificates of Interest Issued by Liquidating

THE FLETCHER AMERICAN ' NATIONAL BANK OF INDIANAPOLIS

Notice is hereby given that Otto J. Feucht, John P. Collett and William N. Fleming, Jr., as Liquidating Trustees for The Fletcher American National Bank under Indenture of Trust a August 23rd; 1933 have declared a distribution by way of liquidating dividends upon the outstanding Certificates of Interest, in trusteed assets, issued by the Liquidating Trustees designated under the Plan of tion of The Fletcher American National Bank of Indianapolis, in an amount sufficient to pay and discharge Coupon No. 4 attached to said Certifi-

In accordance with the provisiohs of said Identure of Trust and of the Certificates of Interest heretofore issued thereunder, Liqui

of Reorganization of

the

No. 4 at-

penenanas FRB EAS ABRED 5s LB RE ROBE RIS RE wn

cof

hehe

i El Ba