Indianapolis Times, Indianapolis, Marion County, 28 December 1936 — Page 12

Trends

New Law Possible

On Neutrality,

Flynn Says. ——lY JOHN T. FLYNN

EW YORK, Dec. 28 — The President, we are informed, is planning to seek further neutrality legislation. In effect what he will seek is a more or less complete recasting of the present neutrality ill I ie present law makes tomatic. That is, as ste te of war exists between two nations, our neutrality comes into effect, The President is charged merely with two discretions. One is to determine when a state of war exists and proclaim it, The other is, through the proper agency, to list the articles which may the belligerent

neutrality soon As a

Mr. Flynn

be sold to tries he President, if reports are true are—is going form of neutrality ‘h Congress will the right to declare not. The ncuautomatic, It entirely to the discrePresident. A war may and the President may inactive and enforce no whatever,

1 it is likely they another one in whic with him neutral or not be

Arica eft A il the

out

trality

’ Pre ories two forms

The theory

n 2

two different theat the bottom of these of neutrality legislation, of the President's plan country should not act circumstances in case. Neutrality actually work hardship on one erent and not on the other. hould not enforce trade bans those circumstances where one party to the war is injured more than another unless we wish | to produce that effect. Before deciding, therefore, whether we, will enforce neutrality, we must decide which party is in the wrong, in essence, which party is the aggressor. In that case we will act accordance with the effect we h to produce | If neutralitv—that is a trade ban both parties—will help the areressor and hurt the injured party, then we will not proclaim and 1 le it to the President to make the declaration. If neutrality will help the injured party and hurt the aggressor, then we will proclaim neutrality.

are

! 1s that this

under

| SAV the each particular may bellig We

under

"" nn

agam

we ave

Will

” n ERHAPS this may policy. But one conceded about it—it is not in neutrality, It is the reverse, It imposes on the President, | though it may not seem to do so, to determine when neutrality shall be proclaimed and gives to him the |

power to judge between the belligerents and actually to put us on one side or the other of the conflict This is not and never can be called neutrality. It is a good way to involve us in sitting in judgment on every war which breaks out. Because whenever a war is begun the President will have to decide to be neutral or not. He can not escape considering the relative rights and wrongs of the war, Sympathizers with one or the other | belligerent will petition him to declare neutrality or not declare it. We may well consider whether it would not be better not to have a neutrality law at all than one which takes sides necessary in the name of neutrality, (Coy ht, 1936, NBA Service, Inc.) |

rte

Fr wits and Vv egetables

Quotations bel low subject to change, are verage who le prices being offered to loc al commission dealers.) X Oregon Bosc, 100s, Avocados, 20s-24s, )'Anjou, tra fancy selected, ih & 1 nches up, 2'% inc hes Ng . : 4

” be a sound thing must be

any sense

yvris

S83

ANS, ) inches up. 15 inches up, $2.15: » inches up, $1.85; 2» inches up, Ss ! No

. te mh ons ps, _ Mexic an, © ars Persian seedless, ¢ alifornia Em be rors, 32-1b prries, C. C. Early T an get an CS, \¢ Tex

A Bl AP et Sm tl - nd © 0

Cal 75 <

3 mauats, Pineapples

Rs GE Yt Tf

Florida stringless, omegrown, bu. £1 se, $3 h

1 mammoth. ‘Celer 'y cab-

Ct A Sl £1 ed ed

°t, 88. Peppers. | doz., RemEErONY yellow, 50 8 Parsle ¥. home-

NOH nions, Indiana rthern white,

Loa

\ Parsnips, Peas, Western Tel. | Potatoes, Maine Green 100- 1b. bag. $2.90: chigan Rurals, $2.35; "83 Sweet Potatoes. Halls £1.65; Pos .

Colorado hamper, h 15 Rob. dob., THxas, 90c., Tu e, 8-1b.

e Sart $1,

8 63

Pr duce Mar kets

ces uo ted are paid for stock in untry, while for deliv. apolis the prices are 1 cent full case of eggs must weigh

fresh, loss of. 2%

feavy breed hens. 5 Ibs. and over, 12e¢: r Ibs. lle; Leghorn breed hens. Heavy breed springers, 1%:-4} over 4% Ibs. Ilc. Leghorn bre full-feathered and Geese, full-feath-Turkeys, young toms, bh 13¢; over 18 Ibs, lle: youne 5. 10 ibs. and over. 18¢c: oid toms, Ye: old hens, 8c: Ro 3 8 Butter Cream 37. @3R5e No 3 3 SRC. Buttertat—No ssc: 0. 2. Ste.

doz

“Tom a ske ot.

SS strictly

Dnijad © CHIC 1cAGO.' Be — Market, steady; receipts, 993% cases. (2 day fresh graded \rsts, 20¢: extra fists, a8ioc 3 p current receipts, 2%7).c;

17.331 an score) ‘specials. Anders.

steady, receipts, 23 ducks, 114 1%c: Piouers 154: 16¢;

: t. fom: recel te ): extra firsts | extra (52 score). IN} tee: firsts, 81% %32%4c:

POLY Market trucks geese, 1441) pring chickens, 1861 18¢; 8. ae turkeys, 14622%¢; edie. old roosters, 11@ 12: Twins, asl: SC. dalstes, a Be. Yongho rns, 1734 18c tatoes—Suppl fes. moderate: 0 ern k d ors helo

stock, for tock, By Tent market steady: Jdaho N banks, Rs ashin t $ j at 5.

> a" Gy. Cig

West

|said. Retail distribution was swept

| ot bulk commodities make possible

| the smallest since 1919, the maga’ine declared and no year since 1920

500, 000, a gain of 19 per cent from

BUSINESS FAILURES

| highest level since June 18, Dun &

‘have been slightly below the average

| H Tel & | RK

| Kokomo Water Works: 5s °’ | Morris §

{| Noblesville H IL &

| T H Water Works 5s | T H Water Works 6s '49

| ABC Brewing Co

S. | Cent nd Pwr | *Home Tel 5.1 ‘Ind Gen Sery Co 6s

€i- | mdpls Gas Co com

| *Indpls Water Co nfd 5s

a Idaha Rus- | Tennes- |

| Rhubarb. |

“Squash. | Money and Exchange

leghorn |

Abreast of The Times on Finance

* o

PAGE 12

MONDAY, DECEMBER 28, 1936

to $4,589,150,000 last year, according to Dun’s,

Bank Clearings Increase Total bank clearings reported from 22 cities for the week ended Dec. 28, were $7,762,668,000 compared

a gain of 69.1 per cent,

ATMOSPHERE OF ‘BOOM FEATURES BUSINESS TREND

Production in Several Lines Establishes New High For Recovery.

Times Special NEW YORK, Dec. 28.—Cropping | up here and there of a boom at(mosphere in American business was [reported by Business Week today.

Production in several consumer industries, like cigarets, household | appliances, rayon and shoes, as well as producer industries, such as caemicals, Diesel power, petroleum and electric power, have reached new tops, the business magazine reported. Stock and commodity prices were said to be at the highest levels in at least a dozen years. Epployment and pay rolls are expanding and relief declining, though [rot so much as expansion of indusry would seem to justify, the pub[lication declared. Business defaults | were reported at the lowest marks | since the boom days of 1929.

Defaults Smallest Since 1919

Christmas gift buying last week | Shadowed: almost completely, other trade developments, it was

[beyond the 1929 comparative and | the tempo of industrial operations | was not retarded, the summary said. {Less than the usual pre-holiday reInxation was reported in the prinleipal wholesale markets. Railroads were somewhat jolted { by the refusal of the I. C. C. to continue freight surcharges after Dec. 31, but current trends in loadings

| predictions that revenues will not | drop, the magazine declared, The current estimated total of $145,000,000 for business defaults is

has seen such a low figure as the cstimated 9000 of this year, Incandescent lamp sales are expected to set a new record of 880,-

| last year, the » the publication said.

AT SIX-MONTH HIGH

limes Speeial NEW YORK, Dec. 28.—Business

failures in the United States for the week ended Dec. 17 were at the

Bradstreet revealed today. During the week, 179 failures were reported, against 154 the week before and 208 in the corresponding 1935 week. In the first 51 weeks of the year, the firm said, 8959 failures have been recorded, compared with | 11,232 last year.

Retail failures were shown to

| New York Stocks

(By Thomson & McK

High. Amusements

i Eta

uzR EE

Warner Bros .... Aviation Aviation Corp .. Boeing Alrcraft . Curtiss

Faved SSF wR

= >»

»388L8E ale a

Trans Contl & Building—

m _ Radiator ... 28! 634

— LAA MAINS OMAR =a -

Y giey arren Bros ... Chemicals— Alr Reduction 180% Allied C Am Son Aleohol 287% Col Carbon 121 Com _ Solvents 2014 Du Pont 1747 J eeport Tex ... Liguid Carb Math Alkali .... Mcnsanto Chem Natl Dis (new) Schenley Dist

uU Am Home Prod Drags— Bristol Myers .

Sterling Prod .. Un Drug (new) Equipments Am Brake Shoe. .

Am Car Fdy . . Am Steel Fdy..

Pullman Ine .... West Air Br.... Westingh Elec .

Financial

Adams Exp .... 1 Allegheny Corp. Am Int Corp... Comm Credit ... Chesa Corp Comm Iny Trust Transamerica .. Foods— Am Sugar Arm Armour 67% Borden Prod Cal Packing Can Dry G Ale. Coca Cola a

814 17%

o WON @ a > aN

—

BR ree iS Lora LI re ke BLAIS 2 8303 - td LE

EFFEF FIEF,

United Fruit ... Household— Col Pal Peet ...

Sass: Ea

HWS

lowe Sound Int hot o Kennecott Cop.. agma Con Me Riyte Park

Ph st Js

Vanadim Miscellaneous—

Allis Chalmers. . Am Can

—

Anchor Cap .

| dur] Ing the W the week.

LOCAL CALCULATOR SALESMAN HONORED

Recognition was given today to Walter W. Williams, sales agent in the local International Business Machines Corp. office, when an official announcement informed him of his admittance to the company's One Hundred Percent Club of sales leaders. As a member of the club, he will attend the annual company conven- | tion early ext year.

Local Securities

(By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inquiries or recent transactions,

BONDS

Ind Assoc Tel 415s '65 ..... Citz Ind Tel (TH) 4'4s Ny a. Tel Ft W. 51a '55....103 Tel & Tel Ft W 6s '43 .... Indpls Railway Ine 58 "67 .... 71}% Indpls Water Co 34s '66 .... Interstate Tel & Tel 8'%s ' 99

& 10 Stores 5s ° Water Works 5s '68 P 6%s’ Ohio Tel Serv 6s 47 Richmond W W §s Water & L 5:

Muncie

Seymour ‘ I' H Trae i BY Ls Term Co 58 '57 .... STOCKS (new) .....

Beit d & St Yds com . § *Belt Ra road & St_ os pfd

& For Rt Wayne . | Hook Drugs Inc . *Ind & Mich Elee Co pid Ts .10

I'rac

Railron

| *Ind Hydro Elec Co 7s .

*Indols Pwr & Lt Co y pid *Indpls Pwr & Lt Ca nd has

{ N Ind Pub Serv nfd 5'ss. .... 8 N Ind Pub Serv pfd 6s | N Ind Pub Serv pfd 7s . | Progress Laundry Co vid | Pub Serv Co of Ind nid 08. ..0 3 Pub Serv Co a Ind ‘h | Sou Ind G & pid 4. 8 Terre Haute Ber Co 8s *Unien Title Co com *E- Dividend.

INDIANAPOLIS STATEMENT Clearings . 2.628.000 | Debits 7.236.000 TREASURY STATEMENT {By United Press) WASHINGTON, Dec. 28 Government expenses and receipts for the current fiscal year ending Dec. 23, —— with A year ago:

Expenses ipts ..

Gold Res.

Customs 10, 208.50.930.83

Dividends Declared | comms “ie Tigh Berit Ju dole She bie close

las, Jugenu i 48 hid cv p 3

Ey Gas Util . Na al at Spencer ™

(a) Stock dividend ot one ae ot So i par Preiser on each ten shares of com-

Fruits and Vegetables

Burroughs nt

| Houdaille

751 A 151% Am Mach & Fdy By 815

Brklyn had $e

( ate piliay Tract 88! n Cork 9

co [he

Je CID a a =F Or J COT CD It 85 5s uy

3 Eastman Kodak 1 | Roster Wheeler. .

I Natl Coa Reg. . Reens, Bottle .. Rem Rand path Under Worthingta Bap

Motors—

Chrysler 1 Gen Motors .... Graham Mot

- wow

£0 Stydebaker bate Yellow Truck

Motor Access—

« 1 Elec Auto Lite. . Elec Stor Bat 4 Greyhound New

Motor Wheel ... Stew Warner Timken Det ‘Asie 2 Timken Roll .. Ofls—

Amerada

px Ie. ln nr Ba 0 Be BD DD TN pet 1 TY bt et BILD DD

Corp Phillipe pet ‘ved Plymouth Oil ... Pure Oil RL Seaboard Oil ... Shel ta. ....... Skelly Oil VRE, ont S OQ of Cal 8 O of Ind S O of N J

Tidewater PAs ‘ Un Oil of Cal Ree

Atchis au Coast Lines. & O

—

i 03 de 0D BITTY pt bt et Bn bt BD SD 22 3 Fa A a

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dams Ja ills mer Woolen ..

lahese Corp. . Cluett Peabody. Collins Akan. Gotham Hose .. Indus Rayon ...

Chicago Stocks

(By Atkins, Hamill & Gates)

SuradeBIER8 0

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Sod ee orp Consolida Consol dated, Bl Biscuit Electoiont Hose old . G Househo

FEET

Schwitzer-Cummins Sundstrand

New York Curb

(By Atkins, Hamill & Gates)

Noon. Aluminum Co of America. siiiilinhe American Airline EET 4 American Cynam mid BY Ci i Amer Gas an Electric. : 3% Amer Superpower san Arkansas Natural Gas

close. 14 %

ESF FF

A ——— MIT BN 2 =

= >

Motors, | Srinogety u Humble oil hy Refining Co..

or 83 . CID 00 OO BS +r ee OO i wT bee GD

on Niagara Judson Power Mueller Bras Pan- Ainerican Alrways Penroad Ci Spencer Stores Root Petroleu Rustless Tron "and Steel

Dipetas 130+ Jor Rr

Technicolor Tilo ene

Now Bond Issues

(By W. L. Byons & Co.)

Bid Allied Stores 45s '51 Ark La Gas 4s Argentine Re Armour ts

0 & Tel en WY cies T& T st Vas B & O 3} 0.

ro Bd itn Gas ® Lite 4s '50 Mont Power '68 Narra Elec 3's New

Sou Kram 44s b i : Sou Nat Gas 4'ss '51 . Un Pac os n Wise G 3%s "66 Wise Bub od 4s a

. Investment Trusts

(By Thomas D. S8heerin & Co.)

AdRinistered I Fund 2 “Afi d, gan American Business Hy estin

SRS a acara aan ass

Dividend Shares, Inc. .... Fundamental General Investors Trust I Corporat ted Investors . arket St Investment Corp. aryland Fun assachusetts Investors tual Imyestment Fund ational: ide 1 OXing 0 American Tr Shs 108%: - 0 American Tr Shs 19 0 Ame can Ir he 19 0 Americ Quarter com *Select Amer h, Inc new) 1 geted Ame ares (orig.). 4. elected Cumulntive R.. ares + 10. “Selected Income \ “State vestme t "Bo "108. Supervised hares, Inc ( 1) 14.4

ne Siindhrd Olishares "A": mn 2

Tr papdald Qlishares * ‘B".. Unlisted Stocks

(By Blyth & Co.)

nkers Trust C Chase Hanover

as “es g heel WEIRD. | | .. . Sheds

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turers BE ‘

PORKER PRICES REMAIN STEADY AT STOCKYARDS

Strictly Choice 1340-Pound Steers Reach New Top For Season.

Hog prices were steady at last Thursday's figures today at the Indianapolis Union Stockyards. Re-

ceipts totaled 8000. At the close weights of 160 to 180 pounds sold for $10.65; 180 to 200 pounders brought $10.70; 200 to 225 pounds weights were $10.75; 225-230 pounds, $1080 and 235 to 250 pounders were $10.70, Packing sows ranged from $885 to $9.60, top $0.65. Weights of 250 to 260 pounds sold for $10.50; 260 to 276 pounds brought $10.35; 275 to 285 pounders were $10.20; 285 to 300 pounds, $10; 300 to 325 pounds, $9.00; 325 to 350 pounds, $9.75; 350 to 400 pounds, $9.60. In the lighter divisions 150 to 160 pounders sold for $10; 140-150 pounds, $0.75; 130 to 140 pounds, $9.60; 120 to 130 pounds, $0.25; 110 to 120 pounds, $9 and the 100 to 110-pound class were $8.75,

Lamb Market Active

The cattle market was generally active on all classes and strong to 25 cents higher. Strictly choice 1340pound steers brought $12.65, a new top for the season. Most of the steers of value to sell ranged from $8.50 to $9.50. A few good heifers sold around $10 and the bulk brought $6.50 to $0.75. Most fed cows were $4.50 to 85.50, the cutter grades, $3.60 to $4.25. Weighty,sausage bulls ranged upward to $6. Receipts were 1500 cattle and 400 calves. Fat lambs were fairly active and the market was unevenly strong to 15 cents higher, Fed Western lambs generally reflected the maximum upturn, Yearlings were 25 cents higher and aged sheep were steady. Most of the fed Western lambs rated as choice sold for $9.50. Bulk of the better grade native lambs ranged from $0 to $0.50. Fed Texas yearlings brought $8 to mostly $8.25. The bulk of the good and choice ewes were $3 to $3.50, top $4. Receipts, 3500.

Lightwelghts (160-180) Good and

93 89 2

Medium Medium Weights -220) Good and -250) gy and Hep rows (250-280) Goo and (200- oh Good and Packing Bows

23 9

choice. . choice. . choice. .

33 39

ot Ss

) Goo 398- 550) Medium BI Pig (100-140) dood a and choice..

DT We DF Wed PIT De OR FOU OO PA DAPS O

«Receipts, 1800 (550-900) Choice Good

——

Co (900-1100) Goo

Medium Common (1100-1300) Good

pn TN TT =F wT TT =F J DONA AIP RAOD

9333333339339

Pp pp

Mi (1300-1500) G Heifers Choice Good

Com on, medium. Good and choice . Common, medium.

(500-750)

(750-900)

w 2 Smo 33333

Good : Common and medium Low cutter and cutter ....... Bulls, good Cutter, com,

13D IoBI NO AND 939333 83 IPAAD SONI SOARND

Vealers

hoyeceipts, 419 g And choice . ‘

cml and medium

Brats ao ood

(250-500) Good and choice ommon, medium

Feeder (500-800) Gond and choice mon, medium

Com (800-1050) Good and choice . mmon, medium. Helfer

Good “and choles Common and medium .. SHEEP AND LAMBS —Receipts, 3500—

SB IBRI ID OU MDNI IO SD DOR GO

2339

wes— (90-173) Good and choles : mmon, mediu 2, hsep and amp auotations on clipped

basis. Other Livestock

my dhe press

AGO 28. — Receipt ieee 10.000 He cia ol ht ther than Thursday's new 10-year high for good and choice 170-300 bal sows around 10¢ higher;

2000;

calves but. slow!

ung em Rec s steady 0 Reak Poowin day's sha e on all gra es, top. $13 best year in . Nie. 75:1400-1500-1b, bios a dal, 26.12.50; common and medium Srons) her; ce Kinds runaway market 1s: fully : instances more; hty bulls

g we actively up to $6 and bet veal Lg ha? gy at $0@10; shipper kinds PRece pts, O00 including 1500 ire Paths fat jambs opening very slow: feations around stea Sellers askin evenly higher; early y bids on good e aroun 9.25; 44) ntly held above $9.3 eer ated for qut steady) sea hanps Ty Ra steady; scattered T lgher TK OR 55; 5 Nh i oo! 5 ul The md a ol 0 lbs. oh. yo Say Bel 10.10810, ®10: her EE : : ls 8. Laaagh aT down. Lamb, 0 town (By United Press)

of 448 - uring the week

year, compared in the

New Officer

Howard M. Coots was named vice president of the Indianap= olis Morris Plan Corp. today by Willlam IL. Schloss, president. Increased business of the cons cern made it necessary to increase the executive personnel, Mr, Schloss said. Mr. Coots has been in charge of collections for ten years.

INDIANA CONTRACTS HELP WEEK'S TOTAL

Private Awards Again Top Public Building During

Holiday Week.

Times Special NEW YORK, Dec. 28-Indiana highway construction contracts totaling $839,000 swelled the ens gineering awards total last week to

$40,866,000, Engineering News= Record reported today.

Awards in the short holiday week were $10,003,000 above the previous week's total but one-fourth below the total of the corresponding 1035 week, it was said. Private awards accounted for $33,« 657,000 of the total, the trade publi« cation OE

TRANSIT REVENUES REACH 6-YEAR TOP

Times Special NEW YORK, Dec. 28.-<The week before Christmas, normally the highest revenue producer of the year, brought the most revenue to the transit industry of any week since the beginning of the depress sion, Transit Journal declared toay. The trade publication's revenue indicator for the week stood at 105.64, representing a gain of .34 from the previous week and of 5.64 from the corresponding 1935 week, it was said.

BUS MERGER ORDERED

By United Press WASHINGTON, Dec. 28.-<The Interstate Commerce Commission to day authorized the Greyhound Corp. to merge 28 bus companies into six in order to simplify its accounting and to save substantial amounts in corporate surplus taxes payable under the 1036 Revenue Act,

LIGHT SHIPPING DULLS CENTRAL PRODUGE TRADE

Receipts for Week Drop 2300 Cars in Midwest Area Due to Holiday.

Times Special WASHINGTON, Dec. 28.-8hip-pers’ desire not to time arrivals to reach Midwestern markets during the period of holiday dullness cut fruit and vegetable shipments last week more than 2300 cars from the week before, the Bureau of Agricultural Economics reported here today. Demand was increasing and supplies were being cleared out fairly well, the bureau said, resulting in price recoveries on some lines of Bouthern produce. The recoveries were probably temporary and were not duplicated in producing sections, the bureau said. Potato and onion prices were well maintained, it was sald. Potato growers, the bureau report said, were still disposed to insist on their asking prices, from $1.60 to $1.95, and dealers were having little success at trying buy at lower levels,

Onion Demand Light

General jobing range on onions was reported 60 to 76 cents a 50pound sack, but demand in Michi gan producing sections was said to be light. Growers were inclined to hold for prices about 756 cents a hundred pounds, the bureau said. Cabbage held near the lower prices of the week before, the report said. Oranges and grapefruit were reported in good demand and maintained the previous advances of 26 cents a box in some leading auction markets. . Celery, sweet potatoes and cranberries were steady, it was said. Apple supplies were reported light and prices about steady.

SAVING ASSOCIATION DECLARES DIVIDEND

The board of directors of the Fletcher Avenue Savings & Loan Association has declared a dividend at the rate of 47 per annum for the last six months of the year. The dividend is payable Jan, 1, 1037. In addition to the dividend which will distribute approximately $1568,« 000 to the shareholders of the association, a substantial sum was added to the reserve accounts from the earnings of the six months period, the announcement said.

Chicago Grain Futures

(By James BE. Bennett & Co.)

Wheat December Ma

Bigh

Roy Beans

% 1.56V4% 1.56%¢ 1.51% “Bid; tAsk,

STOCK MARKET WEEK IN REVIEW

BY ELMER C. WALZER United Press Financial Editor

NEW YORK, Dec. 26.~Trading on the Stock Exchange quieted in the short holiday week but prices turned up after another sell-off on Monday. Results of the four-session week were: sales 6,004,258 shares, against 12,373,046 shares in the preceding week of five and one-half sessions, Dow-Jones closed the week: Ine dustrials, 178.60, up 089 for the week: railroads, 52.52, off 0.12, and utilities, 34.65, up 0.21, The railroad average close did not reflect the true character of the market for those shares, since they had a wide decline early in the week and a substantial recovery Thursday. The group was adversely affected for a time by the I. C, OC, order ending on Dec. 31 the emergency freight surcharges. Later, traders concluded that the commis sion soon would adjust basic freight rates upward,

Rail Issues Recover

Railroad equipment issues resumed their rise along with the recovery in the carrier group and several of them made new highs, If adjustments are made in freight rates, it is assumed that the railroads will be heavy buyers of new equipment in 1937. For a time the automobile group was under pressure as a result of strikes in parts plants that threat. ened to close down the industry, These were ended or adjustment was in sight late in the week and the motors came back easily, ‘ Automobile equipments followed them down and up. Automobile production fell below the levels nf a year ago with the industry's leaders operating at a rate of about 3'4 days. Crams Reports, Inc, estimated automobile production for the week at 76,080 units, against 121,038 in the previous week, and 81,336 in the corresponding week of 1935. Olls were in demand Thursday. New highs were made by Texas Cor poration, Barnsdall, Consolidated and Continental. Pure Oils was active. . Substantial gains were made by Standard issues.

Utilities at New Highs

Steel issues recovered, Coppers displayed strength when the domes tic price for the metal rose to a new high since 1030 at 11% cents a pound, an increase of % cent. Other nonferrous metals followed the coppers as their metal prices were advanced. Utilities made a good showing and several rose to new high ground, American Telephone was strong, Late in the week, Chemicals, Rub bers, Amusements, and a number of gpecial stocks were carried higher. Industrial activity was curtailed somewhat by the holidays. Retail trade made an excellent showing, according to Dun & Bradstreet, which said: “Last-minute buying of Christmas gifts swept retail trade for the week on a dollar volume basis above the 1930 level, while unit sales in many

instance exceeded the peak year of

LOCAL CASH MARKET

City grain elevators are paying $1.30 for No. 1 red wheat. Other grades on their merits, Cash corn new No. 3 yellow, 96c. Oats, 43c. Hay-No, 1 timothy, [email protected]: No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, $16@ 16. 50; second cute ting, $17.50@8$18.50,

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