Indianapolis Times, Indianapolis, Marion County, 30 December 1936 — Page 4

Trends

States Can Check Charter Abuse,

Flynn Says

BY JOHN T. FLYNN

% TEW YORK, Dec. 30.—The Sed curities and Exchange Commission has been investigating investment trusts. The study is a perfect example of the work which a government agency can do and which no one else can do. First of all, an investment trust i: precisely what the name implies. trust—that is, it is a fund made up of the savings of numerous small investors committed to the care of the m a n a gement because the investors themselves do not know how to manage it and they are led to believe that the trust management does. The funds in the trust do not belong to the manageiaent. They belong to the investors. They are the funds of people who want to put their savings in a safe place. They have been told over and over again that the investment of money is a very delicate and dangerous proceeding. How to choose stocks? What stocks to choose? How long to hold them? When to sell them? These are questions the average man can not answer.

fie = WD od

Mr. Flynn

u ”

SO upon the assumption that he a is incompetent, he selects an investment trust and puts his money in its shares, on the assumption that the managers are competent, But he assumes also that they will manage it with an eye single to his interests. Yet great numbers of people were induced to put their savings into the shares of United Founders at $35, $54 and $60 share, These were not stock market prices. These were the prices at which the shares were sold by the corporation. Elaborate literature was put out to impress the reader with the great solidity of this enterprise, its extraordinary management, the great care exercised to conserve the assets, The enterprise assumed an air of amazing respectability— talked about the fly-by-night investment trusts; took me to ask when 1 ventured to question a little its eternal solidity. Yet the man who bought its shares at $60 in 1929 found them worth $1.06 in 1933.

B there any investor in all the land, no matter how simpleminded, no matter how uninformed, who selects his invest ments by closing his eyes and jabbing a pin into the stock price columns of the daily papers and buying whatever share is pierced by the pin, who could manage to do worse with his money than that? Why was all this? Why did this company have such a dreadful history? It would be impossible to find out without a government investigation. The operations of the promoters were veiled behind = multitude of corporate subsidiaries and holding companies. The most intelligently trained investor with ample time and funds and machinery could not follow a corporate operation like this. How then could the highly uninitiated investor for whom the investment trust is primarily organized, hope to see behind the wall of corporate complexity set up by the promoters? There Is something that can be done about this. The promoters can not run a job like this unless they can get the help of some state government. That help they get by obtaining from state governments a corporate charter. The state owes it to its citizens to see that its franchise is not used for Purposes like this. (Copyright, 1936, NEA Service Inc.)

Produce Markets

The brices quoted are paid for stock gathered In the country, while for deliveries in Indianapolis the prices are 1 cent tigher. Each a case of eggs must weigh

55 pounds gro 1 “strictly fresh, loss off, 23

Eggs—No. Heavy breed hens, § Ibs. and over, 13%: under § Ibs. llc; Leghorn breed hens. heavy, 8c. Heavy breed springers, 1%-41% Ibs. 9c: over 42 Ibs, lle. Leghorn breed springers. Te. Pucks. full-feathered and fat, 5 Ibs. and up, 9. Geese. full-feath-ered and fat. Tc. Turkevs, young toms 14-18 Ibs, 13c: over 18 Ibs. llc: young hens. 10 Ibs. and over. 13¢c: old toms, Te: oid hens, 8c: No. 8 2@38'%c

” ”

Abreast of The Times on Finance

® o°

| 600,000 bushels

PAGE 4

WEDNESDAY, DECEMBER 30, 1936

a Livestock Yields More American farmers have averaged $1,000,000 more

a day from the sale of livestock to the meat packing industry this year than in 1935, according to William W.

WHEAT PRICES LIKELY TO VARY EARLY IN YEAR

Production Boost in 1937 Is § Seen by Department of Agriculture.

BY FRED 0. BAILEY United Press Staff Correspondent WASHINGTON, Dec. 30.—Wheat prices are likely to fluctuate widely | g during the next fews months be- | cause of unsettled world conditions, Department of Agriculture economists said today. Although world supplies are the lowest in 10 years, prospects are for | increased production in 1937, the department reported. Prices of wheat |

in the United States are the high- |

est since 1928.

European nations are storing large | IN

quantities of wheat above their nor- | mal needs.

| European countries produced 470,less wheat than

| needed for domestic consumption.

Buy for Future Needs

Allowing for an additional shipment, of 120,000,000 bushels to non-

| European countries—a total of 590,-

000,000 bushels—exporting countries

| still would have a carry-over of 90,- | 000,000 bushels, Agriculture Depart-

| ministration, Duvel said, is

ment economists said. “European needs do not account fully for the wide rise in wheat prices in recent weeks,” Joseph Duvel, chairman of the Commodities Exchange Administration, said. “Several nations apparently are

storing up supplies against future!

needs.” The Commodities Exchange Ad- | “watch- | ing the market closely.” Specula- | tion has had some effect on market, but the principal factor

{ has been en ‘world prices, he declared.

| ton 12s,

Fruits and Vegetables

(Quotations below subject to change, are average wholesale prices bein Shetea to buyers ty local commission dealers. Fruits—Pears, Oregon Bosc. 100s, $3.50; California Avocados, Na Oregon D'Anjou, extra faney, 5s, $4. Bananas, selected, Ib., Sc. No. 1 Grimes, 2% inches up, $2.10; Indiana Delicious, 2% inches up, 1 Indiana Golden Delicious, 3% $2: N Staymans, 2'2 in

N. Y. Wealthy. 2% Inches up, $i 85: No: 1 Rome Beauties, 212 inches up, $2: No. Winter Bananas, 2'2 inches up. $1.75: S, @% WP ChEs up, $2. Lemons, 60s, $5.25. Limes, Mexican, car20c; Persian seedless, 84-113s, box, Grapes, JCalifornia Emperors, 32-lb. $3.50. Soanbe Ties, C. C. Early 25-1b. $5. Tangerines, box crate, 120% $1. 50. Grapefruit, Texas, seedless, 80s, $3. Oranges— California Sunist, navels, [email protected] Kumgquats, Flort. 12%c. Pineapples, 30s, crate,

.50. nao Setables Beans, Florida stringless, amper 2. Beets, ‘homegrown, bu., $1. bol. California, case, $3. bunch, 15¢ Brussel Sprouts, per drum, $2.75. Cabbage. New York, 50-1b, bag, $1, Carrots. California, doz.. 60c. Caulifiower, 115-125, crate, $1.90. Celery. Michigan, mammoth. doz., 75¢; medium, doz., 45c. Celery cabbage, homegrown, Qoa., 75¢. Cucumbers, Florida, bu,, $7.50; $1.25. Chives, doz. s, 90c. Kale, reinia, bu,, 75¢. Let- , Iceberg, Arizona. 4s-5s, $3: 6s, $2.75; leaf, hothouse, 15-1b, basket, 85¢ Peppers, Mangoes, Florida, crates, $4: “doz., 45c. Mint, doz., 60c. "Mushrooms, homegrown, Ib, 30c. Onions, Indiana yellow, 50-1b bag, 75c: Northern white, $1.15. Parsley, homegrown, doz., 40c, Parsnips, homerown, 1% bu, $1. Peas. Western Tel. amper, $2.75. Potatoes. Mountains. 100-1b. bag. $2. 90; Ydaho Russets, $3; Michigan Rurals, $2.35; Colorado McClures, $3. Sweet Potatoes, Tennessee Nang Halls, hamper, 3 65; Indiana Jerseys Possum.” bu 1.65. 'Radishes, buttons, hothouse, doz, 450; Rhubarb, California, 20-ib, dob., 3 35. Sage, doz. rn Spin nach, Texas. b Le $1. ‘Squash, bu., 90c, rnips, bu., $1. Tomatoes. Ni othouse: 8-1b. basket, $1.65.

110s-

Pe; $2.25; No. 3, Anches 5

1 Winesaps Sunkist,

(By United Press) CHICAGO, Dec, 30.—Apples—Michigan McIntosh, [email protected]. Sweet potatoe = Louisiana Porto Ricans, [email protected], Carrots—Illinois, bushel, 50@75c. Spinach— Texas, bushel, $1 ra Tomatoes Mexican, lugs, $2. 50@3 Cauliflower— California, Srates. $1. Tse 40, Peas—California, hamper Ss, $1502.85. Celery— Michigan, square “erates, 75¢@$1.15. Onions (50-1b. s=acks)—Illinois and Indiana veltows. 25650c; Indiana and Michigan | whites, _80c

| Aluminum Co af America

Butter—Creamery, No. 2, M%@35%¢. Butterfat—No: 1, 3c:

No. 2. 3c

(By United Press) CHICAGO, Dec, 30.—BEggs—Market, settled: reseipts, 6425 cases: firsts, 28'5c: extra firsts, 29¢: current receipts, 27sec: s Butter-—Market, . receipts. tubs extra firsts, 331,@33'2c; extras, 333%,c; specials, 3416 @ 3430: firsts, 32%.@

33 standards 333 Poultry—Market, insettied: receipts, T2 trucks, 1 car: geese, 13':@ 14145¢: ducks, 11 spring chickens, 17@19¢: broilers, 17 hens, 14@20%2c turkevs, 13@iSc; Leghorn hens, 913¢c: old roosters, 11&@13c. 17% @17%c; Daisfes, 173% |

Cheese— Twins, € 18c. Lerhorns, 173% @18c Supplies, light: demand, slow: weak: on north-

Potatoes on western stock. market ern stock, demand steady: Idaho Russet urbanks 3 Washington Russet Bur- : S. No. $2.40; Colorado lures, £2.75 2 85; Wisconsin round 26205 ta Cobh round whites, Dakota lers, [email protected];

10 nk. 207;

un- | fresh graded dirties. 2412¢;

231z¢ 4352

North

vals 5a

Money, and Exchange

INDIANAPOLIS _,__-. a carings . -

a: shipments,

TREASURY STATEMENT (By United Press) WASHINGTON, Dec expenses and Dect The Fear Shding Dec. 38. as compared r 0: BIE 350.924.

$3, 2.9 :

City grain elevators are $130 for No. 1 red wheat. grades on their merits. Cash corn new No. 3 yellow, 9%. Hay—No. 1 timothy, $16@ 1 clover, $15@1550; No. 1 a first cutting, [email protected]; second outTing, $17.50@$18.50.

New York Curb

(By Atkins, Hamill & Gates)

P Close ciose

(By Hamill & Gates)

Atkins, Prev close | 142 | American Airlines .. 32 merican Cyvnamid ‘B’ Am Gas and Electric . Am Superpower Arkansas Natural Gas ‘A Atlas Corp Cooper Bessemer Brown Foreman Carrier Corp Cities CR Creole Pete

enn . 58 Humble Qil and Refining Co . Hygrade Food 5 Imperial Oil International Viviun

{ Lion Oil

Mueller Brass Penroad Corp Pierce Governor Root Petroleum Rustiess Iron Rand "Steel Segal Lock

Sonotone

re Twin Coach

i ————— Other Livestock (By United Press) T WAYNE, De ts oo 5: 300.700 net

225-250 «20% $io 35 33 30 hoo $10 20; Jo

$8.75: 100-120 Ibs. stags, $7.75. Calves, By United rash YETTE, Dec. me Lig to 15c lower; Mark

8: -130 » _roughs, o 25" Lambs,

eady -250 Ibs. $10. 3 p ; 15; 275. 95 Wa liso for. Rb: HN Esote-put ame $8.75

ny rg 15; 20-140 Ibs, $8.

R! wn. native lambs,

ATTRACTIVE CHAIN STORE ISSUE

Write for Prospectus R. B. PARROTT

The department said |

the |

New York Stock Exchange Prices

(By Thomson & Megan)

High Low Lote Aviation— Aviation Corp . Ioeing ret + a Curtis “wrig t bar 19% ir «a Doug as ‘13 a

ko v Corp... al Onited Air Lines

rr) FEL

=. 5

20% Unitd Aircft New 28%; | Frans Cntl&West 19%

Amusements—

Crosley Radio .. Loews Inc . Paramount | Radio Corp

- -

Renn. oa

| RKO Warner Bros ...

Building— Am Radiator vee 29% Barber 36 Holland Purnace 481% 56%

he Sta 5 s Manville "1491; | Liboy Owens Gls Tia Otis Elev 31Va {U S Gypsum Warren Bros

Chemicals— Air Reduction . 73% | Am Com Alcohol 27% Col Carbon ....119 Com Solvents 19% Du 19304 Pp Tex .. 21% [lau Carb 3} atl Dis (new) 2812 Schenley Dist 43% ex Gulf Sulph 39 | Union Carbide 103% U S Indus Alchl 3 y Prod

10%

!Am Home

Druzs— Lambert Lehn & Fink ... 1 Parke Davis Sterling Prod . Un Drug (new). Equipments— Am Brake Shoe Fdy

Am Steel Fdy .. 64 Bald Loco en EleC ... «++ Gen R R Sig .. Poor & Co Pullman Inc West Air Br . Westingh Elec er. Adams « 1% lle Ag Roorp v.80 nt Corp ... 13% A Credit 67 84%

"145%

Chesa Corp . Comm Invest Tr Transamerica

| Foods—

| Am Sugar | Armour Coreen Borden Prod | Sal Packing Dry G Gont Bak Prod. ...... of Wheat . J Eabay Am Sug Gen

G W Sug | Hecker ¥rod Holly Sugar atl Biscuit Natl D Prod Purity Bak 1 S Porto Rico Sug | Std Brands 15 Swift & Co : | Swire Intl So. United Fruit 8 | Household— | Col Pal Peet..... | Congoleum Kelvinator ..... Mohawk Carpet. Proc & Gamble. Servel Inc cave Simmons Bed .. Motors— Chrysler ........ 117% Gen Motors BD Graham Mot Hudson Mack Truck ....

Nas “ee Packard Stedetaker White

trs : Yellow Truck ...

Motor Access—

| Som Crm

Eaton Mfg . Blec Auto Lite .. Elec Stor Bat .. Greyhound New. Houdaille .... Motor Wheel Stew Warner ... 17 Timken Det Avle Timken Roll ... 7 Mining— Alaska Jun Am Metals Am Smelt Anaconda

Ins Copper Int Nickel .. Kicnubeolt Cop .

Rem Par Se Phelps Dodge .. St Joe Lead .... Vanadium Miscellanecous—

Be Sonatas

Burroughs Add..

| Contl Car | Caterpillar Trac. 88° rown Cork . 17% | Deere & Co 104% Eastman Kodak 172 15% . 44 . 30%

oe Wisseler.

00 Worthingtn Pmp 34% Oils— Amerada Atl Rig | Barnsdall

Houston (new) . gio. Cont Pet ...

orp Phillie Pet... Piymonth Of“... Pure Oil cou NA Quaker State ... Seaboard Oil 11 Un

Texas Corp Tidewater Assn. Un Oil of Cal .. Rails— Atchison Atl Coast Lines B & O

— -3 on on rt

a — —- Creat or’ SEE

a waa FF FREER FEFEFIRER 2

PABIRD JB 00 == BID

Bs passed 4 wo euisa Feely Fore

uss

11: A.

Prev. close.

Low, West Maryland . 8% 33234 287s 47% 53%

3334 293, Rubber 47% U S Rubber pfd 95 Retail Stores—

Allied Stores ! Assd Dry Goods Pirst Natl Stores Gimbel Bros ... . Gd Un Tea .... Kresge, S S..... 28% Kroger Groe | M R H en

Marshall Field . 20% Mont Ward .... Va Safeway St 2 851, 63

Pe Ns

ro -

™ N

FES

- N

pdb CARD BS BO RO

Sears Roebuck .. Woolworth

Steels— Am Roll Mills .. h Steel

28Y, . 53% 18%

Keystone Steel . 3 Be

Ludlum Steel ... el 17 Rep Tron & Steel 29%, Sharon Steel ... 30 U S Steel .r T8% U S Steel pid, 20 War Pipe & Fdy 37 Youngstn S & 7.

11:00 Prev. Low. AM. Close. Tobaccos— Am Tobacco ‘A’ A Tobacco ®. Philip orris Reynolds Tob ‘B’ 5 Textiles—

92% 9

Goth Indus Rayon Real Silk Utilities— Am & For Am vr & A T & ig Wat Wks aot Gas & Elec. So .

Pwr. LN, 85

Inteporo Ine

5 0 E Nas Pwr & Lit.. North Amer Pac G & E .... Peoples Gas .... 4 b Serv N

Gas Stone % Webster United Corp ... Un Gas Imp Ut Pwr & Lit ‘A’

Western Union .

New York Bonds

(Reprinted From Late Times Yesterday) (By F. 8. Moseley & Co.) 8. GOVERNMENT BONDS Treasurys

102, 104.22

105

DOMESTIC Today's Bond Leaders—

ve.

Chi Mil & St Paul 55 '75 ..... : Seaboard Air Line 6s '45 “oe Hudson Manhat 1st mtg. 5s Hudson Manh Income 5s '

Pure Oil has 50

Alleg Corp 5s "44 ............. Alleg Corp 5s '49

Atl Coast Tine 4los "64 Atch To 5 Fe 4vas "48. & hio $s 2000 Balt & Ohio 6s 95 Balt & Ohio 4's '60

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 seiling inquiries or recent transactions. BONDS Assoc Tel 4%s ’65 T 4%as 5

00% ™Y 15

Bid 106% 103%, L103 10

T1%a

Ind

Indpls Railway Inc bs "67 Vin Indpls Water Co 3's '66 Interstate Tel & Te: 5%2s ' Kokomo Water Works 5s Morris 5 & 10 Stores 5s ’ Muncie Water Works 5s ' Noblesville H LL & P 6% Ohio Tel Serv_6s "47 Richmond W W 5s '57 Seymour Water Co oo 49 +3 Trac & L 5s * TH Water ‘Works 55 : T H Water Works 6s 49 Trac Term Co 5s '57

ABC Brewing Co (new . *Belt Railroad & St Yas com. *Belt Ratligad Ag Yds pfd.. r

d_Ts . 2 Ft Wayne.. 51 Jock Drugs Inc

& Mich Elec Co pfd Ts.. *Ind Gen Serv Co 6s *Ind Hydto Elec hy Ts Indpls Gas Co ¢ . 3 *Indpls Pwr & It "to pfd 6s.. . *Indpls Pwr & Lt Co Fie gas, 190% - fd 5s . 03a

N Ind Pub Serv pfd 6s N Ind Pub Serv pre, Js Progress Launary Co Pub Serv Co of ind Pub Serv Co of Ind Sou Ind G & E pia $s Terre Haute Elec Co 6s *Union Title Co com *Ex-Dividend.

New Bond Issues

(By W. L. Lyons & Co.) B

Pkg 4s 4 Hodaton Lt & PVek Sas 6 Indpls A FS 104 Iowa Sou Uti 13m "30 a

Buff Roch & Pitt ,4%s - Beth Reel 4%s Chi w &

e Grt Northern ‘G’ 4s "46 Grt Northern ‘H’ 4s Grt Northern 4s 77 Gen Stl Cast WW 5%s ’49 ... Hud & Manhat Ref 5s "57 ... Ill Cent 43s "66 .... Ill Cent Jt 4%s '63 .. Ill Cent 5s '63 288% Interboro Ra id Trans 5s '66 93%, Interntl Hy Elec 6s "4 4 79 Interntl Tel & Fel d4%s ’39.. Interntl Tel & Tel 5s "55 ... Interntl Tel = Tel 42s '52.... Leh h Valley 4s 2003 ess & Rob 5%s '50 Mo Kan Sex Adj 5s "67 Natl Dairy 33s ’'51 Natl Steel 4s '65 Nickel Plate 412s °'T8 Nickel Plate 5%s ’ § on 5s 2013 Y Cent 4%s 2013 (old). NY Cent Conv 6s "44

38 Portland Gen ;y 415s 5 Tora Publix 6s '55 ... n P&L 4%s "81 . Postal Tel & Cab 5s '53 Rem Rand WW 4%s '56 Shell Union 3 i>!

Texas Pac 5s’ Texas Pac 5s "19 Texas Pac 5s '77 Third Ave Adj 5s vs

Warner Bros 6s CeTRTTTy Western Mary 5'%4s 7’ 107 Western Union 5s '60 Youngstown S & T 4s ves Youngstown S & T 35s "61 .. FOREIGN Argentina A 6s ’'57 Australia 4'2s '56 Brazil 8s ‘41 Canadian Govt 4s, 60 '60 ‘

Jerman Ts 49 Italy Ts '51 Japan 65s Poland Ts Rome 6los Tokio City Sins 61. Yokohama 6s '61

Other Livestock

(By United Press) CHICAGO, Dec. 30.—Hogs—Receipts, 23,000, including 10,000 directs; market, steady to 10c higher than Tuesday's average; lights up most; bulk 170-280 Ibs.

10. Bay, Xu to 10.30; comparable 150oo: Ibs., 105 ” 00d and choice strong wei 3 0 y a & 99.90. SS thie—Recelpts, 5000; calves, 1500; fed steers and yearlings, steady, with choice and prime offerings strong: middle grades selling at $10@! not as active as toppy or common kinds; top. $13.25: several loads, [email protected]. best medium weights, i ese scaling 1235 1bs.:. common and medium grades, $7.25@9; ‘stockers. scarce, mostly $5.50@ 7: quality light Dir ings at outside price. not much don men cattle due to high killer prices: few loads moat pers, [email protected]; these scaling 950-11 Ibs.: all she-stock steady; best Dettors around $11.50; mostly $7@9; 25¢ higher, flat $1 higher heavy sausage offerings. up to

s strong at $10 S 14.000, Tiholuding S600 ‘directs; fat lambs in fairly broad demand; generally asking steady with Tuesday's advance and refus-

lower bids early: as 3 yet t practeally oo no Western. 1ambs bid > freely: some noid

$9.75 and above in sizeable numbers; native ewes opening steady, $3.50@4.

Chicago Grain Futures (By James E. Bennett & Co.) High

NEW YORK CHICAGO TORONTO SOUTH BEND FT. WAYNE EVANSVILLE

Indianapolis Office 200-214 CIRCLE

WE OFFER

PORKER PRICES TEND LOWER IN ACTIVE TRADING

All Classes Over 160 Pounds Open 10 Cents Lower; Some Recover.

After opening 10 cents lower on weights above 160 pounds, the hog market at the Indianapolis Union

5 cents of the drop was recovered on weights above 260 pounds. Light weights and pigs were steady. Receipts were 6000. Packing sows were strong to 10 cents higher, ranging from $8.90 to $9.65, top $9.75. Weights of 160 to

225 pounds, $1055; 225 to 235 pounds, $10.60; 235 to 250 pounds, $10.50; 250 to 260 pounds, $10.35, and the 250 to 275-pcund class were $10.20 to $10.25. Weights of 275 to 285 pounds brought $10.05 to $10.10; 285 to 300 pounds, $9.90 to $10; 300 to 325 pounds, $9.80 to $9.90; 325 to 350 pounds, $9.70 to $9.80 with the 350 to 400-pounders at $9.60 to $9.70.

Cattle Market Active

In the lighter divisions 150 to 160pounders sold for $10; 140 to 150pound weights brought $9.75; 130 to 140 pounds, $9.50; 120 to 130 pounds, $9.25; 110 to 120 pounds, $9 and weights of 100 to 110 pounds were $8.75. The cattle market was active on all classes and grades at fully steady prices, Good and choice steer and yearling supplies were liberal but she stock was scarce. Prime 1196-pound steers sold for $13.15, a new top for the season, with several loads going at $9.25 to $1235. Most heifer sales ranged from $6.50 to $8. Beef cows were $4.50 to $5.50, the cutter grades, $3.50 to $4.25.

Native Lambs Up

Weighty sausage bulls ranged from $5.75 to $6. Receipts totaled 1400 cattle and 600 calves. The run of 600 sheep consisted almost entirely of native lambs with prices on this class generally 256 cents higher. One load of medium yearlings sold for $7.75, sharing the upturn. Bulk of the better grade and choice native lambs brought $9.25 to $9.50, top $9.75. A short load of nearly good fed western lambs brought $9.25. Slaughter sheep were steady with most fat ewes at $3 to $3.50, top $4.

Receipts. 8000 3000 8000 7000 6000

choice. . $ 5 5010.45 [email protected]

. 10.0010.50 ov [email protected] . [email protected] [email protected]

Tiny Ligh 140-1

ed Light weights — 0-180) Good =

Mediu a (180-200) Good vid edium choice. . 10. choice.. 10. choice.

{300- 250) Se Heavyy

Pht ph 22 22

ww 2

3 335s 33 3

Goo 425-450) Good “(275- -550) Meahimn Slaughter (100-140)

Pigs Good and choice.

an BBD

-F 83 3993 a3 a3

TIT Sh owmoa

—Receipts, 1400—

(550-900) Choice ... Good

teseesin

Ft }

A3ARI3 FASS AAS

(900-1100)

(1100-1300) Go

DID BID BID rd pb pl pb a pl a DUI IIIT SOND NNADNANNDD

pa.

(1300-1500) Ch G

ph pd

— RDN DD

(500-750) Goo

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

(750-800)

233332 3293 9993939359939

teen

Common “and medium... ... Py cutter and cutter ....... Bulls, good . Cutter, COM, “woivvivvrtvaivyveis Vealers —Receipts, =

peg SRE

id 893%

ERA Sass

Good and choice edium

27 33 8 rd 23 233

Calves (250-500) good and choice. $ 6.3 Common, medium.. Feeder and Stocker ontite (500-800) and ..$ 8.

(800-1080) ad Com mmon,

23 83%

gn AWIa RO

-3 dU

00-178) Good Sng chi .

(Sheep and h lamb a: basis.)

And other leading Exchanges,

Ll S50

For 5%, Net Income AMERICAN LOAN COMPANY 5%, Debentures

complete information on request

417 Circle Tower

Stockyards today closed active and |

180 pounds sold for $10.45; 180 to | 200-pounders brought $10.50; 200 to

cent from the 1933 depression low,

CREDITS REACH RECORD TOTAL

FHL Bank Fund Advances To Co-operating Agencies Climb Steadily.

By United Press WASHINGTON, Dec. 30.—Strong revival in residential building was indicated today by a report of the Federal Home Loan Bank System, which showed the credits of 12 member banks had reached a record total of $139,359,688. Credits in April, 1935, amounted to $74,000,000, Advances by the 12 Federal ‘Home Loan Banks since 1932 to 3751 cooperating thrift and home-finance institutions totaled $272,559,961 on Dec. 12, compared to repayments of $133,188,669, the report showed. Federal Home Loan Bank ade vances to co-operating agencies have increased steadily for the last 20 months, it was pointed out. Ade vances for November, 1936, totaled $137,261,209, compared to $87,714. 000 for November, 1934, and $07. 088,631 for the same month in 1935. Construction Loans Up

Federal savings and loan associa tions, governmental agencies under the supervision of the Federal Home Loan Bank Board, reported they loaned $189,000,000 for home-finan-cing purposes during the first 11 (months of 1936, increasing their home mortgage holdings to approxi= mately $544,000,000. The proportion of current loans for new construcs toin has climbed steadily, it was said. The associations also reported share purchases by private investors for the first 11 months of 1936 totaled $88,000,000. During November alone, 1080 Federal associations reported a total of $7,164,300 invested by pri= vate purchasers in their shares. Investments by the United States Treasury and the Home Owners’ Loan Corp. in Federal association totaled $143,000,000 for a three-year period ending Nov. 30. Congress authorized such investments to provide additional loanable funds in local communities,

Chicago Stocks

(By Atkins,

H. M. Shackelford, formerly of Ladoga, has been elected vice president of the Johns-Manville Sales Corp. in charge of sales promotion. A graduate of Indiana University, he joined Johns-Man-ville in 1928.

BOSTON BUSINESS JUMPS SHARPLY

Gains From 8 to 111 Per Cent Reported by Chamber.

By United Press BOSTON, Dec. 30—Boston busi-

ness in 1936 increased 8 to 111 per

the Boston Chamber of Commerce said today. . Employment has jumped nearly 18 per cent and pay rolls 35 per cent during the three-year period ending this month, according to the chamber’s survey. Receipts of domestic wool—regarded an excellent business barom-« eter—approached the 400,000,000pound mark, a point near peacetime record levels. This represents an increase of 83 per cent from the depression low. Consumption of New Englandmanufactured cotton textiles had advanced 33 per cent over 1932 lows. The chamber predicted that shoe manufacturers undoubtedly will establish a new record. All New England factories will have produced 133,000,000 pairs during the year and Massachusetts, maintaining its position as the nation’s leading shoe manufacturing state, 80,000,000 pairs. The increase over 1934 lows totals 8 per cent, The number of building permits granted in Boston during 1936 was 111 per cent more than during the depression low.

Hamill & Gates) No ¢ ogy oon Close, Adams Manufacturing .. 8 Advance Alum Allfed Products Vi Asbestos Manufacturing VEE y Associate Investors Bastian Blessing Bre’ off

Investment Trusis

(By Thomas D. Sheerin & Oo.)

Bid, Asked, Adm inistersd und 2nd 10 20.3 Busi 33s ne Broad Street investing 37.11 Bullock Fund, Ltd :

Corp Corp ‘AA’ or ‘Acc’ (unmod). Corp Trust Shares (orig)

vortex ..... Cunningham Drug . Electrica) Household + General Household .. Godchaux Sugar “A” Godchaux Sugar “B” .. Great Lakes Jarvis —

Dividend Sh Fundamental General Investors pause Incorporated Invest Market Street Tnvestmt Corp. Maryland Fun » Ansett, Inves ois ete Mutual Anvestinent ation-Wide Voting orth Amer Tr Shs 1856

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303-307 Merchants Bank Bldg. LI-6122

INVESTMENT AND BROKERAGE SERVICE

W. 1. LYONS & CO.

Established 18738 MEMBERS: New York Stock Exchange and other principal exchanges 40 N. Penn. St.—L1. 8315 Russell McDermott, Mgr,

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SAVE $1,000 in an INSURED Saving Account

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