Indianapolis Times, Indianapolis, Marion County, 31 December 1936 — Page 11

Trends

Abreast of The Times on Finance

¢ ®

Let Other Nations War Without Us Flynn Says.

TT JOHN T. FLYNN

EW YORK, Dec. 31 The question of neutrality continues to force itself on public attention as the opening of Congress nears We have a neutrality law. But it will expire on May 1. Before that time Congress must either reenact this law or a better one. The word “neutrality” as applied this law has a very restricted meaning. The object of the Jaw is not to prevent Amerjcans from having opinions about a war or to prevent them from taking sides spiritually and mentally. That, of course. in a free nation where wars are reported freely, is impossible

in ir

Mr. Flynn

and undesirable The object of the law is to prevent American business men from supplving munitions to either side, Therefore as soon as war breaks out hetween two nations, it becomes unlawful to hip munitions to either belligerent. But th® President must first declare what materials are munitions.

” n ”

“HE definition of munitions has been very narrow. The result has been, therefore, merely to prevent American firms from shipping guns, ships, powder and ball, ete. But obviously this is utterly inadequate, European eountries have plants for making munitions, What those plants need are machinery, raw materials, steel, certain chemjcals, ete, which are essential to | the manufacture of munitions. To prohibit the shipment of completed products and to permit the shipment of the raw materials of war is futile, One objection to modern war being a struggle be- | tween whole populations, whatever maintains those populations may be considered as munitions of war «even food In a sense this is true. But no | one has yet suggested that we adopt a law prohibiting the sale of {food to warring nations. Nor is this necessary, Experts can sit down and make up a list of a dozen or two raw materials that are as essential to armies as the machine

gun, NY neutrality bill which does

A not prohibit the sale of these materials is useless. Europe 1S apparently determined once again to attempt to wreck her civilization. How Wwe can stop this, I do not know, nor does any one. One thing we can be clear about, however, is that we will not permit them to wreck our civilization. At least we can try to do this. The other is that we will not either help them to destroy theirs or try to make money out of the process. Therefore we should (1) adopt a new neutrality law, automatic in character, but including a group of essential materials; (2) a law prohibiting the shipment of any materials to warring nations—food, clothing, essentials, anything else, in our ships, wrapped in the Amerjean flag: (3) a law prohibiting loans to warring nations or commercial credits to them. If they have war, to bolster their cracking economies, to support their imperial aims, to save their creaking empires, let them have their wars to themselves, (Copyright 1936, NEA Service

Fruits and Vegetables

(Quotations below subject to change, are average wholesale prices being offered 10 | 3 Puvers ty local commission dealers.) | Pruits-—~Pears, Oregon Bose, 100s, 120s, | 50: California Avocados, 20s-24s, box, 2.75, Oregon D’Anjou, extra fancy, 110s- | 5s, $4. Bananas, selected, ib, Se. Ap ples, | 1 Grimes, 2!'% inches up, $2.10; No. 1 Indiana Delicious, 2'; inches up, $2.25: No. | 1 Indiana Golden Delicious, 2': inches up, $2: No. 1 Stavmans, 2'2 inches up, No. 1 Jonathans, 2'2 Inches up, 1N 1 1

this is that

” n ”

Inc.)

] Wealthy 2 inches up, § Rome Beauties, 2 inches up, Winter Bananas, 2': inches up, Wi inesaps, 2% inches up, $2 Sunkist, 360s, $3.25. Limes, Mexican, care | 20c; Persian seedless, 84-112s, box, Grapes, California Emperors, 32-1b Cranberries, C 3. Early $3. Tangerines, lu Grapefruit, Texas, | Oranges-— California Sun- | $3.25@ 3.73 Kumgqguats, Flor« Pineapples, 30s, crate,

Florida stringless, homegrown, bu. $1 case, $3. bunch, 15 drum bag, $1 Caulifiower, Michigan

Bee ile £8, dae qt. $4 in Vegetab! 10s -- Beans hamper, $2 Beets, Broccoli, Californi Brussel Sprouts Bet bage New York, 50-ib California, doz, 60c¢ Crate. $1.90 Celery do 55¢: med Page homegrow! do? ida, bu. $7 dor foc Kale, Virginie Iceberg, Arizona hownogle 15-ib basket orida ates Mushr ois ho It yi na thern whi re doz 40¢ 1s 1 Peas, Western Tel $2.75 Potatoes. Maine Qreen Mountains, 100-1b. bag. £2.90: Idaho Rus- | sets. $3: Michigan Rurals, $2.35. Colorado | McClures, $3. Sweet Potatoes. Tennes- | see Nancy Halls, hamper, $1.85: Jersevs “Possum.” bu, $163

65¢. California, 20-ib. dob, $1.35. Sage. doz. S¢. Spinach, Texas, bu, $1 Squash, Acorn, bu. 90¢. Turnips. bu. $1. oma- | toes, hothouse, 8-1» basket, $1.65.

Carrots 11s- 12¢

pot 5 tuce Peppers, doz., 45¢ megrown vellow 50-1b $1.15. Parsley, Parsnips

85¢ $4

oni [ons R Nor homegrown, own, \amper

Indiana Radishes

buttons, hothouse doz Rhubarb,

(By United Press) CHICAGO, Dec. 31.-—Apples—Michigan cintosh, $1251.75. Sweet Potatoes uisiana Porto Ricans, $1. Sa@ 30, rots—Illinois, bushel, 30875 Spinach —- 65¢ @ $1 Tomatoes— exican @ Caulifiower—California, $i 154 1 35. Peas—California, hamp23.28 Celery- Michigan, square Onions (350-1b. sacks) Illinois and Indiana yellows, Bi Soc: Michvellows, %5¢; Indiana whites, un-

Car- |

Produce Markets

{The prices quoted are | ald for stock gathered in the country, tle for deliv. | fis in Indianapolis the prices are 1 cent |

igher. Each full case of egg® must weigh | pounds gross Eggs—No. 1 strictly fresh, loss off, 22¢ |

avy breed héns. 5 Ibs. and over, 12: | a PA 11¢c; Leghorn breed hens, Pal breed springers, 1lp-4ls ¢. Leghorn breed full-feathered and Geese, full-feath- , young toms, $.. lle! you 336 old toms,

Ducks.

ne Te: Roan, 3 | Bunerfat—No: 1

. S4'% @dnise. 2 Sle.

(By United Press) CHICAGO, Dec. 31. — Eggs—Market, soak: receipts, 8521: fresh graded firsts, | 2812. extra festa, 29¢; dirties Jthei eur. | rent Jeceigis Te, checks, ! Butter arket, steady. receipts, extra firsts (90-91% score), 33 @33'ze¢; tras 92 Seore) Aa EL Met | Sec; firsts, Janaard 33%e. Pte Maries Pe 49 | rucks; geese chickens, loa ite: brolers, 110s; 18¢; turkeys, 13 16%ec; Sa | 96 12¢c: old roosters, 11@12ec. eese— Twins, Ee daisies, 17% ; longhorns, 1T%& toes Supplies. lent: "demand, slow: | ho: RuUster Burbanks, marker, dull:

stock, ket, stea rhanky $268 ey

THURSDAY DECEMBER 31, 1936

PAGE 11

made in Great Britain. the United States 200 own

U. S. Leads in Autos

The United States led the world in automobile production in 1935, manufacturing 15 times the number Out of every 1000 persons in

cars,

| Asbestos Manufacturing .

| Greenfield Tap & Die Sep. | Gulf Oil Penn

| Hyler | Imperial

| Niagara Hudson Power .. | Mueller Brass

| Tubize Twin

| Muncie Water

| Ohio | Richmond W W

o |} H Trac

| *Indpis Pwr & Lit

| *Corp

| *North Amer Th Shs

Prank i stoker

stoke pM

{ av,

UPTURN IS SEEN

CONTINUING FOR

STATE BUSINESS

Fear of Strikes and Federal Legislation Only Cloud, Arnett Says.

“The only cloud in the business cky as Indiana looks forward to one

nt the most prosperous years since 1028-20, is fear of sirikes and Fed-

Inventories Greatly Reduced

INDUSTRIAL PRODUCTION

40 AND INVENTORIES

0 Low Mo terol St 200 180 160 140 120 100

eral legislation of a retarding ine |

fluence,” W. H. Arnett, Indiena State Chamber of Commerce direc tor, said today. “As 1937 looms, year of encouragement,” Mr. Arnett caid “Business prospects brighter than for the last vears. The merchants’ shelves are depleted after the holiday rush.

Mr. Arnett said steel and equip- |

ment industries are doing well, farm iriconie and prices are at a peak and they seem to be on a substantial basis. “We have faith that good judgment will assert itself and blisires: will go into sound and substantial | basic that wiil keep our country at! the head of all nations as the most |

| prosperous and with the best uving | | conditions,” he Said.

Chicago Stoch tocks

(By A'kins, Hamill & Gates)

| Advance Alum

Associate Invest | Bastian Blessing’ | Berghoff ‘he | Bruce E L . | Central lliinois Publ Service. . Cities Servic a Commonw ealth Edison | Cord Corp | Continental ‘Steel | Dayton Rubber | Dixie Vortex Electrical Household .. General Household ... Great Lakes Dreage { Jarvis Co .. | Katz Drug, Ken-Rad " Libby MEN Cand Libby. Lion Oil . Loudon Packing Marshall Fie Mid-West Sord pfd.. Noblitt Sparks Northwest Bank Signode Steel . Sundstrand Williams Oil 0s Matic Zenith

Nea

C3 rt BG rt yt Bu et NG ris Sa

New York Curb

(By Atkins, Hamill & Gates) Prev. Noon Close 160 154% vo S134 . 39%

Alunfinum Co of America American Airlines ‘os American Cynamid “B” Am Gas & Electric Am Superpower .. Gas

os Ls -

atural

ae Atlas Corp teri

oe»

Bessemer Corp Cities Service re ¢ Share

Cooper

hut C3 53 ve wt on SEIS «TRIED <I TES D GH -— ae

Ford Motors, Canada

Humble Oil & Sennine G0.» +n Prefer 17 on Lion Oil

a SHAE BEN

Pan-Americ an ‘Airways | Penroad Pierce Governor Root Petroleum . Rustless Iron & Steel Segal Lock .. “ Sonotone Paiasheasetke St Regis Paver Sunray Oil Carat aaRRA SRA, Technicolor ‘ Tilo Roofing ...

Coach

Local Securities

(By Indianapolis Bond and Share Corp.) The followin , Quotations do not represent actual bi or offerings, but merely indicate the PPTOXI ALE market level based on buying and selling inquiries or recent transactions

BONDS

Ind Assoc Tel 4! ‘itz Ind Tel TH)

- -

w -

ts BT Oe et BS TOT BIR BSCS GF Ce BI «TBI rr fe 2 tt BS BT I ot fe ot LID =T ODD BDO IIRIIICO de 8T or D «Ta TOI DD GV oe

Ny @ Am Esa

tpt pt BS

Bid Ask 06's 108 10434 105 106% 3a 106. 1012

BRT > . L 104% Indpls Railway Inc 5s "67 .... Tila Indpls Water Co 34s '66 Interstate Tel & Tei d'2s

Kokomo Water Works 5s 104 . 3

05 103 104% | 103 1062 103 110 104 105 2

Morris 5 & 10 Stores 5s Works bs Noblesville H L & P 6'%s 4 Tel Serv 6s 4% 5s Seymour Water Co 5s '49 & LL 5s "44 T H Water Works 5s °’ I' H Water Works 6s '49 Trac Term Co 5s '57 STOCKS | ABC Rrewing Co el *Belt Railroad & St Yds com. *Belt Railroad & St Yds pfd . Cent Ind Pwr pfd 5s . @ *Home Tel & Tel Ft Wayne.. Hook Drugs Ine . ‘Ind & Mich Elec Co pfd Ts ‘Ind Gen Serv Co 6s *Ind Hvdro Elec Co Ts Indpls Gas Co com ‘ v 8 *Indpis Pwr & Lt Co pfd 6s Co pfd 6':s *Indpls Water Co pfd 5s .. N Ind Pub Serv fd 5':s N Ind Pub Serv pea, y ‘hr N Ind Pub Serv Lo Progress Launéry . Pub Serv Co of fad ba 6s. Pub Serv Co of Ind Sou Ind G & E pfa 8s Terre Haute Elec Co 6s *Union Title Co com *Ex-Dividend.

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

Administered Fund 2d Affiliated Fund Inc . American Business Shares .. Broad Street Investing ... Bullock Fund Lid . Century Shares Trust AS *Corp ‘AA’ or ‘Accum’ (mod.) ‘AA’ or ‘Ace’ (unmod.) *Corp Trust Shares (orig) . Diversified Trustee Shs ° "Diversified Trustee Shs 'C’. Diversified Trustee Shs ‘R'. Dividend Shares Inc “rasa Fundamental General Investors Trust ... Incorporated Investors Market Street Invest Corp... Maryiand Fund : “Massachusetts Investors Mutual Investment Fund Nation-Wide Voting *North American Tr Shs 1955 *North American Tr Shs 1956

Ld Ns BIG IIL IES

$8833325233235528583800325525282 a | PPI +5

3 aA pra Ee =

thee LIP

CERNOVIINDRBOANTN . bt 03 Pot LY Sgt uf 28 aft wd AZaaa

ZZ @ =

Quarterly Income Shs “Selected Am Shs Inc *Selected Amer Shs (orig.) . *Selected Cumulative Shares ‘Selected Income Shares ... | State Street Invest Bets’ Tuervised Shares Inc (Del) 1 Trustee Trstee RA Roiishs | Trustee Standard Ofishs *Ex-Dividend.

- - Building Permits Chester A. Stayton, 5869 Central-av, Stoker $385. 3a. Cooper, 3610 Carroliton-av, Gatling Gun Club, 109 N. Illinois-st, . A. Johnston, 3730 N. Pennsylvania.

st. stoker te

P. Schaffner, 5045 Bellefontaine-st, Stoker,

Prout a alrcalister, 5460 N. Illinois-st,

tp rT : oe 2%

—

‘A’ B

ad 25.

Anne. Madison Wrecking Co. 2451 Martindale av. wrecking, $ Charles Blickley. 5564 N. Pennsylvania- . electrical, $100, Railroad Mens I Loan Co., 2041 AshlandMidwestern Petrolen 2062 Yandes-st, electrical. pap.

[Rush Jobs Make Us Smile

Hendren Printing . Company Inc,

Sta | Johns Manville’ | Otis u

| Am | Comm Credit

it appears as a,

appear seven |

Adminigtrative and Research New York 1928 1929 1930 1931 1032 1933 1934 1935 1936

Increasing industrial activity, aided by production restrictions, has sharply reduced burdensome inventory surpluses. Over the past three years ending September, the Federal Reserve Board index of industrial production has risen from 85 to 107. Over the same period, the U. 8S. Dept. of Commerce index of raw material stocks declined from 184.6 to

135.7 and of manufactured goods from 109.2 to 101.0.

New York Stocks

11:00 Prev. Low, A.M. Close. 47 4687s 1% 1 44, 48's 69's 55a 21% 26

(By Thomson & McKinnon) 1

1 High. A.M.

Skelley Oil ..... 11% Soc Vac Ta vo 445, . 483s vo 89% Corp .... 55% Tidewater Assn. 21'z Un Oil of Cal 26's Rolls

Atchisol Atl Const ‘Lines.

High Low

Amusemen ts—

Crosley Radio .. Loews Inc Paramount Radio Corp 20th Century Fox Warner Bros ... 1 Aviation Aviation Corp.. Boeing Aircft .. ss Wri ieht | Curt av Al Rouglas i ‘ed Nor ‘ashe Err United ey Nines Un Aircraft ag Trans Contl & Building—

Am Radiator Barber Ce Lone

28% 67's

« 13 4573 215%:

w a STILE NT

BD 3

BO =T ie TCI BILE TVET We BI =F be b= VBS

SE hn BODEN B NT

—

pay o> La

BS BD BT vet wT et COD re fe oe i O° on =F

Erie . Erie pfd Gt Northern pid Ill Central KGCS8Sou ....... Lenish Valley

B&T....... MK & T pid... Pac ..

Pt BS BD ie 03 bt et fe pt GS —- - BIND EN BD tt fn et

Libby Owens Gis 7 Elev 8 Gypsum Chemicals—

Air Reduction Quied Chem ... Com Solvents ... Du Pont . Freeport Tex ... 27 Liquid Carb .... Math Alkall ‘Ah Natl Dis (new). Schenley Dist . 44), Tex Gulf Ruiph 30% Union Carbide 1037s U 8 Indus Aico. 393% Drugs— Lehn & Fink... Parke Davis .... Sterling Prod Un Drug (new). Equipments— Am Brake Shoe Am Car & ey. Am Loco Am Syeel Pdy Bald L 9° Gen AD Tok Car "3a Elec &6

~ COOOL rt LI BD Te «TC BI 0 TVD ie BI wT ifs +e TV BD

Cent ...... N Y New Haven N Y Ont & Wst Nor Pen

SIND

o~ 3

Union Pac Wabash Retail Stores—

Allied Stores.... Goods

n Kresge ‘ae Kroger Groe

McLellan 1 Marshall Field | . Mont Ward

Be Foi Woolworth ....

Rubbers— Firestone

“ily 69%

50a 1492

Br even Westingh Elec Financial— Adams Exp Allegheny Corp 4

nt Corp ... 14% . BR 86

US. U 8 Rub pid.

Steels Am “a Mills .. Beth Steel

. 15%

Chesa Corp Comm Invst Trst 57 Lehman Corp ..119% Transamerica .. 17 Foods— Am Sugar Armour ... Borden Prod . Cal Packing Can Dry . Cont Bak oh ‘ee Of

Keystone Steel.. 19% Ludlum Steel .. 33 a

Ss ‘ A War Pipe & Fdy Youngst'n 8 & T Textiles—

er Woolen ... lding Hem lanese Corp.. llins Aikman.. Indus Rayon .. Kayser Julius Real Silk 12

Tobaccos—

Am Tob “A’.. fr To" My vi yes Rg “ " Lorillard 227% Philip Morris ‘ Reyn Tob “B"..

Natl Biscuit ‘an Natl Prod.... Purity Bak S Porto Rico Sug 3

Swift Intl Un Biscuit .... | United Fruit... Household—

Col Pal Peet ... Congoleum Kelvinator Mohawk Carpet Proc & Gam le Servel Inc Simmons Bed

Mining Alaska Jun

Uiilties Am For Pwr Tl Am Es & Lit 125; ATS oT ...1853 Am Wat Wks 257g Col Sas’ & Elec. 3 Comm & Sou .. Consol Gas . Elec Pwr & Jnter bore T

Western Union .

50 TYPICAL STOCKS SHOW SLIGHT GAIN

Vanadium Miscellaneous— Allis Chalmers. . n

Times Special NEW YORK, Dec. 31.—Market value of 50 representative New York Stock Exchange stocks at the close of last week's business was reported by Paul H. Davis & Co. today to have been $22,516,791,000. This figure represented an in-

crease of 1.10 per cent in the week and 31.27 per cent over the corre- | sponding week of 1935.

25 Chicago Stocks Decline

Times Special CHICAGO, Dec. 31.—A decline of 09 per cent in the market value of 25 representative stocks listed on the Chicago Stock Exchange was noted in the Paul H. Davis & Co.

compilation of last week's prices. The total at the close of the week's business was reported to have $1,047,259250. This was an increase of 24.60 per cent over the same 1935 week.

JORDA 11 NCEuT RUGS-~LINOLEUMS Er RTE Rd 207 W. WASH.STS

ontl Can Cater ar ract 885s Crown Cork TEN

Natl Cash Reg . Rem Rand . .. Worthington P.. Motors

Auburn Chrysler Gen Motors .... Graham Mot ...

tudebaker .. .. hite Motors .. Yellow . Truck.

Motor Access—

BORD bt pot pt i ft Wad NONRNDW

» Go She rey

BURNS LESEIAGE

ila FE

Phillips Pet ... Plymouth Oil ... Pure Oil ‘ek Seaboard Oil .. Shell Un ...... 28

BLELLRNLE0E per a

MUTUAL INVESTMENT FUND

Founded in 1926 Send for pamphlet, “Let's Look at the Record”

T.P. BURKE BE COMPANY INCORPORATED

| |

PORKER PRICES UNEVEN; SOME GAIN 25 CENTS

Most Advance Recorded for

| pounds, $10.30;

31. J Light Lights—

«| Misoos Wei

All Weights of 160 to 235 Pounds.

Hog prices were uneven today at | the Indiandpolis Union Stockyards, |

New York Bonds

| | (Reprinted From Late Times Yesterday)

DAILY BOND INDEX (1926 Average Equals 100)

Yesterday Week ago .. Month ago Year ago 1636 high 1936 Low 90. 84.7 103. 93. I Viont, "1038, y Standard Statistics)

(By F. 8, Moseley & Co.) U. 8S. GOVERNMENT BONDS Treasurys

ranging from steady with yester-| 3}

day's figures to 25 cents higher. |

Most of the advance was recorded 3

| in the 160 to 235-pound class. Un-

derweights were steady. Receipts | totaled 4000. At the close, 160 to 180-pounders | sold for $10.70; 180 to 200-pound | weights brought $10.75; 200 to 225 | pounds, $10.80, and the 225 to 235- | pound class were $10.85. Packing sows were fully steady at $8.90 to $9.65, top $9.75. Weights | of 235 to 250 pounds brought $10.65; | 250 to 260 pounds, $10.50; 260 to 275 275 to 285 pounds, $10.15: 285 to 300 pounds, $10; 300 to 325 pounds, $9.80; 325 to 350 pounds, $9.70; 350 to 400 pounds, $9.60. In the lighter divisions 150 to 160 | pounders brought $10; 140 to 150 pounds, $9.75; 130 to 140 pounds, $0.50: 120 to 130 pounds, $9.25; 110 to 120 pounds, $9, and the 100 to 110-pound class were $8.75.

Cattle Receipts Light

The cattle market was generally active and fully steady with hardly enough offered to test values as receipts totaled only 700 cattle and 300 calves. A few loads of steers brought $9 to $12. Heifers ranged from $6.50 to $8. Beef cows were $4.50 to $5.50, the cutter grades, $3.50 to $4.25. Weighty sausage bulls ranged upward to $6.25. Vealers were steady and the bulk of the better grades ranged from $12.50 to $13. Fat lambs were active and mostly 25 cents higher compared with Tuesday. Yearling and slaughter sheep were steady. Fed Western lambs brought $9.75 and the bulk of the yearlings ranged from $8 to $8.50. Most of the choice light and handyweight native lambs sold for $9.75. Slaughter ewes ranged from $3 to $3.50, top, $4. Receipts totaled 5000.

HOGS Bulk. Receipts. 10.3042 10.55 55 5000 10.55 @ 10.85

.85 (140-160) Good and _Choige. -$ 30a10 70 edium

[email protected] Lightweights— (160-180) good Sad choice.. [email protected] Me 9.50@ 10.50 (180-200) Good" and’ ‘choice. .10.50%2 10.80 Mediu 10.15@ 10.65

1200-220) d choice.. 10.656110.85 | i (220-250) G and choice.. 10.506210.85 | Heavywel eg | (250-290) Good choice... [email protected] | (290- 350) Good choice.. [email protected]

50 9 9.25@ 9.f 8.90 9. 8.60 9.

Goud

Pi 100-140) food 2nd choice... Mediu

--Receipts, 700 (550-900) G

(900-1100)

(1100-1300)

(1300-1500)

— Ora IO ND -JO =D -JO r+

NONI NIUID I=IN D TT = £320 = 19 180 14 £9 =O = AI oma =I SSooUmO NN ADD

(500-750)

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

(750-900)

Common and medium. Low cutter and cutter . Bulls, good Cutter, com. Vealers —Rwceipts, 300— good 2nd choice $11.504 13.00 Mediu “a . 9.506111.50 Cull ‘and medium 00@ 9.50

(250-500) Good and choice §$ 6.50@ Common, medium.. 4.50 Feeder and Stocker Cattle (500-800) Good and choice .§ 6.25 Common, medium 5.00@ (800-1050) Good and choice. . mmon, medium Helfers—

Good 4 and choice ......... Common and medium ..

SHEEP AND LAMBS —Receipts, 5000—

00 .50 |

5 5 0 25 50 50

6.25@

wes— (90-175) Sood and choice . 3.00@ Common, mediu 2.00@ Sheep and lamb ns on clipped basis.)

REVENUE LOADINGS DECLINE 9051 CARS

By United Press WASHINGTON, Dec. 31.—The Association of American Railroads reported today that loading revenue freight totaled 729,696 cars during the week ended Dec. 19, a reduction of 9051 cars or 1.2 per cent from the preceding week. Carloadings, however, mounted 129,030 cars or 21.5 per cent from the corresponding week of last year. The association's report showed grain and grain products this week 33,807 cars compared with 35,863 cars last week and 14,767 cars of livestock this week compared with

16,778 cars last week.

TICKET ORDERS ACCEPTED NOW-—

500-MILE RACE MAY 31, 1937

TICKETS READY FOR DELIVERY JANUARY 8, 1937 INDIANAPOLIS MOTOR SPEEDWAY CORP.

444 N. CAPITOL AVE.

CENTRAL SUPPLY COMPANY

210-238 S. Capitol Ave.

Standard Plumbing Fixtures American Radiator Heating Equipment

sass ess aes detec aatrnnen

102.27 102.2 104.27 |

105.27 | 105.2 105.20

Marts Closed

Commodity and security exchanges and livestock markets throughout the country are to be closed tomorrow in observ=ance of the New Year holiday. Most of them are to remain closed Saturday, the main exceptions being the security exchanges in New York and Chicago.

Busigraphs

NET RAILWAY OPERATING INCOME CLASS I ROADS

(INTERSTATE COMMERCE COMMISSION) 120

DOTTED LINE IS THE PAST TEN YEARS AVERAGE OF THE SAME MONTHS

-”

’

7 st °°

MILLION DOLLARS

RMI

7 7 As

/ M

Z ON D F 1935 | THE PARKER CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS

Net railway operating income for October was at the highest figure for any single month since October, 1930, and passed a year ago by 20 per cent. Because of increasing income our railroads are able to buy more equipment and rails.

Chicago Grain Futures

(By James E. Bennett & Co.)

11 A.M,

Prev.

Wheat-— High Low Close

hte | July

Sept. Corn—

1.55% .55 Ju 1.53%s 1.53b IY, id, (s) Sellers.

LOCAL CASH MARKET

City grain elevators are paying $1.31 for No. 1 red wheat. Other grades on thelr merits. Cash corn new No. 3 yellow, 98c. Oats, 44c. Hay—No. 1 timothy, [email protected]; No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; second cutting, $17.50@$18.50.

Other Livestock

(By United Press) CHICAGO, Dec. 31.—Hogs—Receipts, 12 - 000. including 3500 directs; market active, 15@ 25c¢ higher than Wednesday's average; ng demand comparatively broad, , good and choice, 180-300 lbs., $10.50 410.65: top. $10.65; well-finished, 150-170 1bs., $10.256210.40; good and choice, strong weight pigs, $9. 506210: sows, scarce, better grades, under 500 lbs., mostly $9. sale, Cattle—Receipts, 4000: calves, 500; fed steers and vearlings, steady to strong on better grade offerings, steady to weak on others: shippers and order-buyers con- | tinue active on kinds at values to sell at $7.50 upward; new high top at $13.40 paid for 1166-1b. offerings: best heavies. $13; bulk lower grades, [email protected]; kin scaling over 1000 lbs. getting best ans she stock, generally steady, very Jueven. however; cutter cows selling at $4.50 dow steady to af middle grade short- Ted heifers, dull; bu 5 closing 25¢ lower: vealers, strong 3% O@11: selects, [email protected]. Sheep— int , 9000, including 3700 directs; fat lam i "in active demand, bids and sales, 10@25¢c higher; aged sheep, 50@ 60c above Tuesday; good to choice native and fed Western lambs, [email protected]: numerous loads confidently held at $10 and above; some above $10.10; top, range ewes, $5.10

LAFAYBTTE

; 160-180 Ibs. lbs., [email protected]; 120-140 120 1bs., [email protected]; roughs, 4 Calves, $12 down. "Western Soe. down; native lambs, $9 down.

FORT WAYNE, Ind, Market, Ther $10 5513

$9.25 Dec. Ios. $1835: "225-250 1bs., $10.65; 50-275 1bs., $10.55;

$8. Roughs, Cav es, $12.50. Lambs, $9

NEW YEAR GREETINGS

to ALL from

UNITED CAB CO.

Call RI ley 8605

Standard Plumbing Fixtures, American Radia-

tor Heating Equipment, Air Furnaces

0il Burners—Stokers—

— Water Softeners — Pipe

122-1b..,

DOMESTIC Today's Bond Leaders—

Republic Steel 4152s '50 Pure Oil 4%s 50 Intl Tel & Tel 5s Chi Milw & wr P 55 '78 Mo Pac 5s "17

3 3| Alleg Corp 5s "44 ...

Alleg Corp 5s '49 Am Frgn Pow 5s 2030 ........ 78% Am Tel & Tel §'zs '43 .......111% Am Tel & Tel 55 '65 .......... 11% Arm & Co (Del) 4s '55 .. 29 Atl Coast Line 4s '52 .........105 Atl Coast Line 4'2s "64 ....... 98% Ww k 09%

Am Wat 5 08 "15 .vcevnnies Balt & Ohio 5s 2000 .......... 89% Balt & Ohio 6s "95 Balt & Ohio 44s ‘60 . Buff Roch & Pitt 42s '57 14s '60

Chi Milw & St P 5s 000 3

i 5s .its i Colorado & : | Chi & West Ind 4s '52 {Chi & Nor West 43s "48 1 Con Gas 4's '51 j Copa Corp 5s

| Erie 5s *67 . . Grt Northern “G' | Grt Northern “'H’

| Gen Stl Cast 28 | Hud & Manhhat Ref 5s 37. 111 Cent 43% Il Cent % Wis Ill Cent 5s '63 Interboro Rapid Trans 5s "66.. Interntl Hy Elec 6 4. Interntl Tel & Tel 4155 '55.. Interntl Tel & Tel 4'2s ’52.. Lehigh Valley 4s

Nickel Plate 5; Y Cent 5s 2013 N Y Cent 4'2s8 2013 (old). N Y Cent Conv 6s ‘44 Nor Amer Co 5s’ Nor Pac 3s 2047. . Nor Pac 0 . New Orleans Tm 48 '55...... Otis Steel 6s *

Penn Ry 3%s_'70 Portland Gen El 4) 428 '60

Texas Pac 5s '80... Texas Pac 5s oe . Texas Pac 5s Third Ave Ad, 5s Union Pac 4s '47 United Drug 5s '53 ....

Warner Bros 6s Western Union 5s Youngstown 8S & 4s Youngstown S & T 3'as FOREIGN Argentina (A) 6s ’'57 Australia 4'2s '56... Brazil 8s '41 Canadian Govt 4s’ Denmark 4'2s

New Bond Issues

(By W. L. Lyons & Cold. i Aliled Stores 4'zs ’sl.... wea 999 k La Gas 4s '51. ves Arsentine Re Armour B hs Ass'd Tel 4 Am Tel & rel 3Vas ’61. AT&T 3%s '66 B & O 4las “39 Cal Oro Pwr 4s "66 Cent Maine Pwr 4s ’60 Cent Maine Pur 3128 ’66. . Cin G & E 3%s 66 Cleve Tractor 15s Com Credit hs 3

Lees. 100% ..104

Fla Power 5s '66. Houston Lt & Tower. 3! 2s '66.. 104% .1047s Kansas P & Koppers Co a Island Los Angeles G : Xz 4s ..105% Louisville G & 2 3%,s ’66..... 104% Mengel C >: ‘47 Metro Ed 4 Minn Gas & Lite 4s 50. Mont Power 334s '66.. Narra Elec 3's ’66 Ney England Pow 3)is 61. N Y Chicago Stl 4s ’ N Y State Elee Jas i“ '65 Okla G & E 4s 46 Okla G & E 4s 54 46 Pac Gas & EI 32s ’66.. . Pac Lighting 4's '45........ 1 Pac Tel 3las "66 Peo Gas Lite Coke 4s '61 Penn Tel 4s '6 Railway & Lite Sec 415 Sou Cal & E 65... Sou Kraft 4s a6 2 Sou Nat Gas 4'2s ’51. Wisc G & E 3'2s5 '66 105 Wisc Pub Serve 4s ’61..... ...106%

Unlisted Stocks (By Blyth & Co.)

Pankers Trust .... Central Hanover ...

Chem sesneniv, i WE Illinois .... Quaranly

rving Manufacturers .. National City . . National Shawmut .. First National Boston

FIRE INSURANCE

Aetna Fire Insurance . American Ins of Newark Baltimore American ...

nc reat American Insurance. . National Hartford . Home Insurance .......... Hanover Fire cesracasrsanans National Liberty Sessasvaresess 10 North Rive oe NE

sess nannrans

OPERATING COST INCREASE SEEN FOR RAILROADS

Little Hope of Gaining Lost Revenue in Traffic Rise, Spokesmen Say.

By United Press WASHINGTON, Dec. 31.—Rail=roads see little hope of gaining lost emergency freight revenue through increased traffic because of anticie pated operating costs, rail spokese men said today.

Emergency freight surcharges exe pire today at the order of the Inter= state Commerce Commission. A. F. Cleveland, Association of American Railroads vice president, estimated the surcharge elimination will cost them $10,000,000 a month in revenue. He indicated a 10 per cent increase in freight business would be needed to make up this loss. The railroads have appealed to the commission for general revision of the freight rate structure in an effort to make up in part the lost surcharges. Hearings on the re=quest open Jan. 6 but it was likely that no decision by the commission will be made for almost a year.

Urged Continuance

Mr. Cleveland estimated revenue from such revisions, if granted, would total $75,000,000, compared to

$120,000,000 produced annually by the emergency freight rates. “Railroads stand to lose miilions of dollars of revenue regardless of how the commission decides on their new petition,” the association officer said. “That revenue is lost forever since an extension of the emergency rates would have been the only way to save it.” Frank McManamy, a commission= er, who dissented from the com= mission's expiration order, urged that the emergency charges be con=tinued during consideration by the commission of the new petition, adding it would require at least six months and probably a year or more to reach a decision.

Rate at 2.36 Per Cent

In support of his contention that the nation’s railroad’s while enjoy= ing increased freight and passenger revenues, had not yet reached a point where they were obtaining satisfactory returns, Mr. Cleveland cited rail operating statements. The figures showed a rate of return of 236 per cent on property investment for the 10 months ended Oct. 31 in 1936 compared with 3.43 per cent in 1930 and 1.78 per cent in 1935. Advance reports from 101 Class 1 railroads, representing 91 per cent of total operating revenues, showed

for November at $65,906,297; operat= ing revenues, $326,608,056 and oper= ating expenses, $226,269,857.

BAYUK SALES INCREASE

Times Special PHILADELPHIA, Dec. 31.—Sales volume of Bayuk Cigars, Inc, in 1936 will be highest in company history, A. Joseph Newman, general sales manager, declared today. Ship= ments sometimes reach 4,500,000 cigars a day, he said.

Money and Exchange

INDIANAPOLIS STATEMENT Sicarings

TREASURY STATEMENT (By United Press) WASHINGTON, Dec. 31.--Government exe penses and receipts for the current fiscal year ending Dec. 29, as compared with a year ago:

This Yea Expenses. $3,517,494, 81. 3 Receipts . 2,1 40,513,509 Deficit .. Cash Pal. 1, Pub. Debt 34,358, 788, ‘348.91 Gold Res. 11,250,997,143.20 Customs.. 234.074.558.60

ast Yea $3. Ti 033, 867, 27 1,889,421, 218. -31

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