Indianapolis Times, Indianapolis, Marion County, 6 January 1937 — Page 17

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_~ They can doctor books, keep their

| Trends Rail Lobby Trying

To Stop Probe, Flynn Says.

PAGE 14

: . breast of The Time

S On

WEDNESDAY, JANUARY 6, 1937

‘Fina:

1Ce

Carloadings Best Since ’31 The Association of American Railroads today reported that railroad freight traffic was greater mn 1936 than in any year since 1931. creased 4,559,173 cars over 1935.

Revenue loadings in-

PORKER PRICES

BY JOHN T. FLYNN

EW YORK, Jan. 6-—Twenty-five years ago, Edgar H:. Farrar, a great American lawyer, declared that a day would come—and soon—when the American people would discover that one of the greatest evils ever introduced into cur system was the permission extended to corporations to buy the stocks of other corporations. Mr, Farrar -was not a Communist. He was not a radical. He was not even a liberal. He was one of the leading c¢ o Iporation 1a wyers of America and president of the American Bar Association. He w a s attorney for railroads,

banks, corporations of all sorts. And he made this declaration in an address to the American Bar Association itself. : How great an evil this has been no man can tell. How great an evil it may be, we can only surraise. But one thing is certain—the American people had better find Gut all about it before they make another flight of prosperity. ; " # » ; F a corporation runs a bank it is subject to laws—banking laws. Those laws specify certain things which banks cannot do. But all the bank has to do is to split itself into two corporations. One 1S called a bank and it keeps within the banking laws. The other 1s called a ‘company.” The bank owns its stock. Or if necessary, the stock of the bank and the stock of the “company” are owned by a single corporation—a holding company. The company enjoys to the full the use of the bank’s funds and its prestige. And the “company” may proceed to do without hindrance all the things the bank is not permitted to do. This is a simple case. As a matter of fact it is possible to split the bank into three or 10 or 50 corporations, all the stock being held by a single holding company. One corporation runs a railroad, one a trolley system, one a bank, one a real estate business, another runs a security business, another runs a hotel. In effect all of these business enterprises are merely departments of the bank. But this is all obscured and concealed behind the fact that all of these departments are made into separate corporations whose shares are held by a master company.

Mr. Flynn

” # n UT even this is simple. Be- | B hind these corporate walls | promoters may do anything they wish. No man can follow them.

buoks in separate states, immune from state courts and commissions. They can pass the money of the corporations around, they can falsify balance sheets, fool banks, biind public regulatory bodies, confuse stockholders and rob them. How much have people lost in these ventures? One investigation in Washington—the investment trust investigation—brings out that an investment trust which got its shares in market value up to $294,000,000, saw them suffer a loss of $277,000,000. : The railroads have been tied up, handcuffed, confused and in many cases looted of billions by these methods. Do We want to stop it? Do we want to permit it? There has been a lot of talk about the power of the Federal Government over business. But there is one field of business where its. power is not doubted. That is the railroad business. . There is an investigation in progress by. Senator Wheeler's committee to unravel these railroad complexities and find a way out of these dangerous depths. If such an investigation cost 10 million dollars it would be cheap. But at this time the railroad lobby is trying to kill the investigation because it costs a little money. Who is strongest in the Senate—the railroad lobby or the people? We

will see. (Copyright, 1937, NEA Service. Inc.)

Unlisted Stocks (By Blyth & Co.)

Bankers Trust Central Hanover Chase Che Con

Bid. Asked. 68 ° 69%

Irving : Manufacturers .... National City National Shawmut First National Boston .. . FIRE INSURAN Aetna Fire Insurance American Ins of Newark Baltimore American i York

Federal Insurance Great American Insurance.... National Fire 6 Hartford Home Insurance Hanover . Fire National Liberty North River . Phoenix US Fire ..... Westchester Fire . b—Bid.

Other Livestock

HICAGO, Jan. 6.—Hogs—Receipts, 28,000, including 8000 directs; market, slow, mostly steady with Tuesday's average; extreme top, .60; bulk, good and choice, 180-270 lbs., $10.35@ 10.50; comparable, 150-175 1bs., $10.25@ 10.40; best sows, $10. Cattle—Receipts, 11,000; calves, 1500; general market active and unevenly higher; mostly strong to 25c up; all strictly good he choice steers, yearlings and practically all grade heifers and beef cows sharing full advance; lower grade steers steady, these selling at $10.50 down; top Ygarlings, $13.85; seven loads medium weight, $13.75; several loads, $134413.50; earling steers, 102) lbs., at outside price; dif Koh yearlings, averaging 1012 lbs. up, to $12; most heifer short-feds selling at [email protected]: stockers, very scarce; kulls, slow, steady; vealers, steady to weak, mostly steady on shipper kinds selling at $12@13. Sheep—Receipts,” 11,000, including 2300 directs; fat lambs in fairly broad demand, but few sales; undertone, strong to higher; aged sheep, firm; good to choice native and fed Western lambs bid $10.254210.35, freely: asking, [email protected] and better for choice handyweights; better native ewes, [email protected]. (By United Press)

LAFAYETTE, Ind., Jan. 6.—Hogs—Market, steady to 10c higher; 225-250 Ibs., [email protected]; 250-275 1lbs., [email protected]; 275-325 lbs., [email protected]; 180-225 lbs., $10.30 @10.40; 160-180 Ibs. [email protected]; 140-160 1bs., [email protected]; 120-140 lbs. [email protected]; 100120 1bs., $8.50¢78.75; roughs. $9.50 down. Calves, $12 down. Lambs, $9.25 down. i

JUMP 10 GENTS AT STOCKYARDS

Weights Above 160 Pounds Show Advance; Others Remain. Steady.

Recovering part of yesterday's losses, hogs weighing 160 pounds and up advanced 10 cents today at the Indianapolis Union Stockyards. Underweights held steady. At the close weights of 160 to 180 pounds sold for $10.55; 180 to 200 pounders brought $10.60; 200 to 225pound weights were $10.65; 225 to 235 pounders were $10.70 and the 235 to 250-pound class brought $10.60.

Packing sows were strong to 10

cents higher with most sales at $9.10. Receipts totaled 7000 with 735 holdovers. Weights 250 to 260 pounds sold for $10.45; 260 to 275 pounds, $10.30; 275 to 285 pounds, $10.15; 285 to 300 pounds, $10; 200 to 325 pounds, $9.90; 325 to 350 pounds, $9.80; 350 to- 400 pounds, $9.70. Steers, Yearlings Active

In the lighter divisions the 150 to 160-pound class brought $10; $140 to 150 pounders sold for $9.75; 130 to 140 pounds, $9.50; 120 to 130 pounds, $9.25; 110 to 120 pounds, $9, and the 100 to 110-pound class were $8.75. Steers and yearlings were fairly active and steady.on a run of 1300 cattle and 700 calves. The steer top: was $12.50 for choice to prime 1436pound weights. Bulk steer sales ranged from $8 to/$10. Most heifers brought $6 to $8 with the kind of value to sell at $7 and below in urgent request. Cows were mostly steady but the inbetween kinds were dull. Beef cows sold at $4.50 to $5.00, the cutter grades, $3.50 to $4.25. Bulls were steady with the practical tep for sausage bulls $6.

Lamp Market Up

Vealers were steady and the bulk of the better grades ranged from $12.50 to $13. Lambs were mostly 25 to 50 cents higher and yearlings were strong tc 25 cents higher. Slaughter sheep were steady. Most better grade fed Western lambs sold for $10.50, yearlings, $8.75. Better grade. native lambs ranged from $10 to $10.25. The bulk of the slaughter ewes brought $3 to $4, top $4.50. Receipts totaled 2000.

‘HOGS

Dec.

To 29.

Receipts. 10 000

Bulk. [email protected] 0. 10.35@ 10.60 a1. [email protected] Jan,

4. [email protected]° 5. [email protected] 6. [email protected] Light Lights— (140-160) Good and

Medium Lightweights— (160-180) Good and

Medium .. (180-200) Good and Medium Medium Weights— (200-220) Good and and

d and (290-350) Good and Packing Sows— (275-350) Good ... (350-425) Good .. (425-450) Good .. (275-550) Medium Slaughter Pigs—

..$ [email protected] [email protected]

. [email protected] [email protected] . [email protected] [email protected]

[email protected] [email protected]

choice. . choice...

choice. . choice. .

(550-900) i G

aa =),

| C (900-1100) G

9d I

C (1100-1300)

$014 n3D 1+ Had DO +4 OD ~J D4 TOTTI JIN CD JT SOTMOOUND 3d P2030 I 2D ke DO nl; 44 DD ON ITI=T: TIT aT =T =I NN COVIOI NNDNNT OO

coon

DDD a

M (1300-1500) G

(500-750) G

00! Common, medium. (750-900) Good and Sm Cows Good Common and medium Low cutter and cutter Bulls, good Cutter, com,

$ 5.50@ 6.50 4.25@ 5.50 3.25) 4.25 ¢ 6.000 6.50 4.50@ 6.00 Vealers —Receipts, 700— Gaod and choice ...........} 11. Medium sul

.00 50

Cull and medium

S pt pt Or

) 9.50 7.00

0 ©

(250-500) Good and choice..$ 7.00 Common, medium. 5.00 . Feeder and Stocker Cattle (500-800) Sood and ghojee.$ 6. ommon, medium. 5. (800-1050) Good and choice. . : . Common, medium. Heifers— Good and choice Common and medium SHEEP AND LAMBS —Receipts, 2000—

[email protected] [email protected] 15@ 9.50 6.75@ 17.75 Ewes— (90-175) Good and choice.. 3.50@ 4.50 ommon, medium. 2.25@ 3.50 heen and lamb quotations on clipped

3? o

ven Soon Sc Soso 3 283d

Lambs— ~ Choice Good

Common

Chicago Grain Futures

(By James E. Bennett & Co.)

11:00 Prev. High. Low. A.M. Close. 1.32% 1.33% 1.153

3%s 1.13

1.123% 1.1 0 1.05%5 1.05% 98%s .98

97% Soy Beans— .

May 1.5 s Sellers; b bid.

Money and Exchange

INDIANAPOLIS STATEMENT

$ 3,527,000 10,732,000

1.57% 1.58b 157%

TREASURY STATEMENT

{ (By United Press) WASHINGTON, Jan. 6.—Government expenses and . receipts for the current fiscal year ending Jan. 4 compared with a year ago: This Year. Last Year. Expenses .$3,600,329,868.85 $3,804,120,414.74 ceipts .. 2,198,281,455.76 1,910,063,538.86 Deficit . 1,402,048,413.09 1,894,056,975.58 .1,903,583,773.26 2,208,733,788.67 Pub Debt 34,404,750,149.91 30,560,982,651.94 Gold Res. 11,257,791,520.39 10,122,880.617.25 Customs 222,348,797.21 191,166,667.47

ATTRACTIVE CHAIN STORE ISSUE Write for Prospectus PARROTT

Investments

Indianapolis

iL 402-403 Guaranty Bldg.

TIE

LI. 2710

The Indiana Bell Telephone Co. is to build a new dial central office at 5870 College Ave., to be known as the Broadway exchange. new building is to start in the spring and is ex-

| New Telephone Exchange for North Side.

early in 1938. Work on the

pected to be completed with equipment installed Constructed of concrete and brick, the building is to be one story high. Above is a photo of the architect’s drawing.

| | i { 1 | |

REA GRANTS FOR ‘RURAL ELECTRIC

PROJECTS GAIN

Loans Totaling One Million

New York Stock Exchange Prices

Thomson & McKinnon) (By 11:00

High. Low. A.M. Amusements— Loews Inc y 6512 65% Paramount 78 25 Radio Corp 3 11

RKO , 20th Centry Fox 35% Warner Bros ... 17% Aviation— Aviation Corp .. Boeing Aircft Curtiss Wright .. Curtiss Wr “A”.

Uni Aircft New Trans Contl & W Building— Am Radiator ... Barber Co 38%% Lone Star 9 Johns Manville .149 Libby Owens Gls 70% Otis Elev 37V2 U S Gypsum ...123% Chemicals— Air Reduction .. 80 Am Com Alcohol 26% Col Carbon 119 Com Solvents ..

wove 39 Monsanto Chem. 97 Natl Dis (new). 28% Schenley , .. 44Y4 Tex Gulf Sulph 40%2 Union Carbide ..102 Am Home Prod.. 47'2

197 ... 18% P vi ieee 40% Sterling Prod ... 72'%2 Un Drug (new).. 14% Equipments— Am Brake Shoe.. 69 -

oor & Co .... Pullman Inc .... / West Air Br ... 49% 49 Ya Westingh Elec .1453% 1452 Financial—

Adams Exp Allegheny Corp.. Am Int Corp Comm _Credit .. Comm Invst Trst Transamerica 17

Foods—

Armour Armour 6% Beatrice Borden Prod ... : Cal Packing .... Can Dry G Cont Bak

15% 4

Cuban Am Sugar Gen Baking wre AT

Purity Bak S Porto R Std Brands Swift & Co..... United Fruit Wrigley

Household— Col Pal Peet ... Congoleum Kelvinator Mohawk Carpet. Proc & Gamble. . Servel Inc Simmons Bed Mining— Alaska Jun .

Sugar Nr 1m

Ins Copper Int Nickel { Kennecott Cop.. McIntyre Mine.. Park Utah Phelps Dodge ... St Joe Lead .... 47 Vanadium Miscellaneous— Allis Chalmers . 787% Am Can ........118%% Am Mach & Fdy 24% Brklyn Man Tr.. 51%

. Burroughs Add . 32% 146%

Crown Cork Curtis ‘Pub Deere & Co . Bastman Kodak. 173 Foster Wheeler . 44 Gillette .- 161 Glidden .. Inter Harv Natl C Rem R. Underwood E . Worth’'ton Pum Motors—

Chrysler ........114} Gen Motors . Graham Mot ... Hudson _.... «18%

Yellow Truck ... Motor Access—

Borg Warner Ss .

Eaton Mfg ..... Elec Auto Rite .. Elec Stor Bat . Greyhound New. Houdaille *....... 24 Motor Wheel ... 22 Timken Det Axle Timken Roll ... T1 Oils— Amerada Atl Rig

Un Oil of Cal... Rails— Atchison B Can Pacific

Ch & Ohio .... 66 Chi & Gt W pfd Chi N W

‘SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co.

"130 E. Washington

11:00 Prev. AM. Close. 23%2 23% ak 21 133% 903%,

Low. 23Y2

High. Ill Central .... 231;

K C Sou -- Izhigh Valley . 18% Lou & Nash... 91

Retail Stores—

Allied Stores. ... Assd Dry Goods. Giiibel Gros as

Rubbers— Goodrich Goodyear ....... U S Rubber ..... U’'S Rub pfd.... Steels— Am Roll Mills .. Beth Steel 75 Cruc Steel 52 Inland Steel ....117 Keystone Steel.. 18 judas Steel ... 297%

Otis Steel 17s Rep Iron & Steel 277s Sharon Steet ... 307s U S Pipe & Fdy: 62% U S Steel 767s U S Steel pfd..143 War Pipe & Fdy 36% Youngstn S & T 76% Textiles— Adams Mills ... 26% Amer Woolen ... 10% Celanese Corp .. 27% Cluett Peabody.. 81% Collins Aikman.. 58% Indus Rayon ... 38 Kayser Julius .. 25% Tobaccos—

Am Snuff 64 Am Sum Tob ... 23% Am Tobacco ‘A’. 95 Am Tobacco ‘B’. 97 Gen Cigars ..... 503s i r..107Ya i 23 Philip Morris ... 78% Reynolds Tob ‘B’ 56% Utilities— Am & For Pwr. 9% Am Power & Lit 13%

- «001 =I MN COLI 4 aT DI bt i= 1 3 0S

44 233 12%, 2578 12%

]l1 Gas _ ... Elec. Pwr & Lit.. IntT&LET ....... Lou G & E ‘A’.. Nat Pwr & Lit..

26%, 12

Fruits and Vegetables

(Quotations below subject to change, are average wholesale prices being offered to buyers by. local commission dealers.) Fruits—Pears, Oregon Bosc, 100s, 120s, $3.50: California Avocados, 20s-24s, box, $2.50; Oregon D’Anjou, extra fancy, 110s, $3.50; 120s, $4. Bananas, selected, 1b., 5cC. Apples, No. 1 Grimes, 2%2 inches up, $2: No. 1 Indiana Deligious, 22 inches up, $2.25; No. 1 Indiana Golden Delicious, 2% inches up.-$2: No. 1 Staymans, 2% inches up, : No. 1 Jonathans. 2% inches up, $2.10; No. 1 New York Wealthy, 2% inchcs up, $1.65; No. 1 Rome Beauties, 2'2 inches up. $2; No. 1 Winter Bananas, 2% inches up $1.75; No. 1 Winesaps, 2%: inches up, $2. Lemons. Sunkist, 360s, $5.50.. Limes, Mexican, carton 12s, 25c. Grapes, California Emperors, 32-1b. chest, $3.50, Cranberries, C. C. Howes, 25-1b. box, $5. Tangerines, 72 box crate. 120s, $1.25. Grapefruit, Texas, seedless, 46s to 80s, $3. Oranges, California Sunkist, navels, [email protected]. Kumquats, Floridas, qt., 12c. Pineapples, 30s, crate, $4.50. si Vegetables — Artichokes, doz, $1.25. Beans, Florida stringless, hamper, $1.85. Beets, homegrown, bu., $1. Broccoli, Caliornia, case, $3; bunch, 15c. . Brussel Sprouts, per drum, $2.75. Cabbage. New York, 50-1b. bag, $1. Carrots, California, doz., 60c. Cauliflower, 11s-12s, crate, $1.75. Celery. Michigan, mammoth, doz., Cc; medium, doz., 45c. Celery cabbage, homegrown, doz.. 75c. Cucumbers, Florida, bu., $7: doz., $1.25. Chives, doz. pots, 90c. Egg Plant, Florida, doz., $1.25. Kale, Virginia, u., 75c. Lettuce, Iceberg, Arizona, 4s-5s, $3.25: 6s, $2.75; leaf, hothouse; 15-1b. basket, 75c. Endive, California, doz., $1. Peppers, Mangoes. Florida, crates, $4; 5c. doz., 60c. Mushrooms, home- . Indiana yellow, Western Spanish, ~ $1.75; $1.25. Oyster Plant, homegrown 492. u.

doz.,

b, Ca 25. Sa, doz., 45c. bu, $1. Shallots. doz., 35c. Squash, bard, bu., . rnips, bu., $1. toes, hothouse, 8-1b. basket, $1.65,

SHToA (By United Press) CAGO, Jan. 6.—A — McIntosh, [email protected]. ples Fosichigam Louisiana Porto Ricans, $1.85@2. Carrots talline, Pu, asc. Spinach—Texas 2 @90c. omatoes—. : : [email protected]. Cauliflower Caliexican Tay $)am1a0 Peas—California, hampers, $3 and Indiana yellow, 25@80c Cr) —HHROls

Other Financial News, Page 15

TYPEWRITTEN LETTERS AUTOMATICALLY TYPED ADDRESSING & MAILING : MULTIGRAPHING MIMEOGRAPHING RULED FORMS SERVICE 7% TWO NOTARIES 303-307 Merchants Bank Bldg. LI-6122 Bargain Week - End Trips NEXT SATURDAY : CLEVELAND ____ $5.00 Leave 10:00 p. m. Return on any train until 2:35 a. m. Monday. Coach service. DETROIT _______ $5.00 TOLEDO ________ $4.25 SANDUSKY _____ $5.00 Leave 10:00 p. m. Return reach Indianapolis not later than Monday morning following. Coach service.

Pay a visit to the Henry Ford exhibit at historic Greenfield Village in Dearborn, near Detroit.

BIG FOUR ROUTE

11:00 High Low A.M. North Amer .... 307% 30% Pac B.... 35% Peoples Gas _.... 502 b Serv NJ ... 49%

td Gas Y% Stone & Webster 29% United Corp .... 1 Imp vi =i YY & Lt ‘A’ 3% Western Union . 79%

MAKES 13TH GAIN

Times Special WASHINGTON, Jan. 6.— The 13th consecutive weekly rise sent thé National Fertilizer Association's wholesale commodity index for the week ended Dec. 26 to the highest point since September 1930, it was announced here today. > The new increase, which sent the index to 83.1 per cent of the 192628 average, was due largely to higher prices for farm products, it was said. The association’s index was reported at 82.8 in the preceding week and 779 a year ago.

Investment Trusts

- (By Thomas D. Sheerin & Co.)

Bid. Asked. Administered Fund 2nd ... 9.17 20.39 Affiliated Fund, Inc (new).. American Business Shares ... Broad Street Investing Bullock Fund, Lid Century Shares Trust Corp ‘AA’ or ‘Accum’ Corp ‘AA’ or ‘Acc’ Corp Trust Shares Diversified Tr Share eis Diversified Tr Shares ‘C’ Diversified Tr Shares ‘D’.... Dividend Shares, Inc . Fundamental General Investors Trust Incorporated Investors *Market St Investmt Maryland *Massach Mutual Investment Fund Nation-Wide oting any North Amer Tr Shs 1955..... North Amer Tr Shs 1956 .... North Amer Tr Shs (orig) .. Quarterly Income Shs (new) elected Amer Shs, Inc (new) 15.24 Selected Amer Shares (orig). 4.13 elected Cumulative Shares.. 10.75 elected Income Shares 5.63 *State Street Investmt Corp 106.00 *Supervised . Shs, Inc. (Del).. 14.91 *Trustee Am Bk B 92 Trustee Stand Oilshares ‘A’.. 17.80 Trustee Stand Oilshares .‘B’.. 17.47 *Ex-Dividend.

Produce Markets

(The prices quoted are paid for stock gathered in the country, while for deliveries in Indianapolis the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds. gross.) ; Eggs—No. 1 strictly fresh, loss off, 22¢

z; Heavy breed hens, 5 lbs. and over, 15c; under 5 1bs., 13c; Leghorn breed hens, heavy, 10c. Heavy breed springers, 1Y2-4%z 1bs., 10c; ‘over 42 lbs., 12c. Leghorn breed springers, 8c.. Heavy breed stags, 8c; Leghorn breed stags, 6¢; heavy breed cocks, full-feathered and fat, 6 ibs. Geese, full-feathered and fat, 1bs., 14c; I1c; young hens, 10 lbs. an toms, 8c; old hens, 8c; No.

, 8c Butter—Creamery, No. 1, 38@39¢; No. 2, 35@36c. Butterfat—No. 1, 33c¢; No. 2, 3lc.

(mod) . (unmod) . (orig)... Ss ‘Bi....

(By United Press)

CHICAGO, Jan. 6.—Eggs—Market, weak; receipts, 10,950 cases; fresh graded firsts, 25%¢; extra firsts, 26c; dirties, 2lc; current receipts, 24c; checks, 20c. Butter—Market, unsettled; receipts, 6408 tubs; extra firsts (90-91%2 score), 33 @ 34c; extra (92 score), 34%zc; specials, ta 35Y2c; firsts, 331.@33. Poultry—Market, steady; receipts, trucks; geese, 12@13c; ducks, 11@17c; Spring chickens, 15'%2@]17c; broilers, 19@ 21c; hens, 14@19c; Leghorn hens, 9@1l4c; old roosters, ll@12c. g Cheese—Twins, 17% @17%c; Daisies, 17%

)18c. Potatoes—Supplies, light; demand, good; market, strong; Idaho Russet Burbanks, [email protected]; Washington Russet Burbanks, [email protected];, Colorado Red McClures, $2.80 @3; Wisconsin Round Whites, $2.35; U. S. Commercials,

. ment-financed power

Dollars Authorized for Nine Plants.

| By United Press

WASHINGTON, Jan. 6. — The |}

| Rural Electrification Administration hoday disclosed an increasing trend | toward the construction of governplants in tural areas where private sources of

| 2lectrical energy now are available.

During 1936 loans totaling almost

1 31,000,000 have been authorized by

EA for construction of nine gener‘ating plants in scattered localities. I "ive were in the last month. Each ‘tation will be operated by co-oper-[itive organizations composed of {'ponsors of REA projects for the exension of transmission lines.

| ponsored by individuals, villages or mall political subdivisions, organ(zed in co-operative groups. When everal groups find it impossible to | ibtain electrical energy at reason{ibly low cost, they form a separate i orporative mechanism to secure an EA loan for building the power 4 bation. | REA operates under an act passed {iy the last Congress assuring its ( xistence for 10 years. It is a lending agency and makes no outright < rants. Chief phase of its work is to ‘snd money for building transi1ission lines into rural areas not ssarved with electrical energy.

Chicago Stocks

(By Atkins, Hamill & Gates) : 11 A.M. Prev.

Advance Alum .. # astian Blessing Hiuce EL © 22Y2 € mtral Illinois Pub Service... Cl ities Service : 4} ¢ ymmonwealth Edison Clird (lane Co wn C ‘nsolidated. Biscuit © \nningham 2ctrical Hous

»'meral Household ‘eat Lakes Dredge . in-Rad Tub sby McNeil

bb td A HA

F{ rfect Circle S indard Dredge pfd Vi jodall Zi aith

“New York Curb

(By Atkins, Hamill & Gates) 11 a.m. Prev. Close. Al minum Co of America 153 ¢erican Airlines 30

Ar tansas Natural Gas Cc per Bessemer

Fo d Motors, Canada ‘A’ G1 enfield Tap and Die Com.. 9 tI Oil, Penn Hy able Oil and Cil es. Service Lica Oil Ni; zara Hudson Power Pa -American Airways Ru ftless Iron and Steel Spr acer Stores

Ste chi Brothers Tw: a Coach

‘97 17% CRUDE OIL STOCKS GAIN By 'Tnited Press V'ASHINGTON, Jan. 6—The U. S. Bureau of Mines reported today the 5 Dec. 19 stocks ‘of domestic and for ign crude petroleum were 288,184 300 barrels, an increase of 275,000 barrels over the Dec. 12 figure.

$2. A rvals, 44; on track, 243; shipments,

Completely Air-Conditioned

Lv. INDIANAPOLIS 4:10 2. m. dally C. T.

(Sleeping cars open at 9:00 p. m.)

Ar, TAMPA 7:35 a. m.

Ar. ST. PETERSBURG 9:30 a. m. ;

Ar. W. PALM BEACH 9:55 a. m,

Ar. MIAMI 11:30 2. m,

car; dining ca

Lv. Indianapolis

man cars.

Fast, direct service to | oth coasts of Florida. Only on the Florida Sunbeam ¢: 2 you visit the East coast and West coast of Florida a d Asheville, N. C., at no extra rail cost. Modern equip 2ent; bedroom, drawing room, compartment and sectic n Pul

Iman cars; buffet-lounge r. Thr ugh, air - conditioned coach,

Indianapolis to Miami.

Two other fir e trains to Florida PONCE DE LEON

ROYAL PALM 5:40 p.11. Lv. Indianapolis 4:20 a.m.

Reduced rail fares—bus a round trip ticket and save. Take your automobile I - rail for one extra ticket—at 4¢ per mile v 1en 2 or more travel in Pull-

assenger

J. N. Lemon, D. P. A:, 108 E. Washington St. Indianapolis, Tel. RI ley 2442

NEW YORK CENTFAL SYSTEM

D.R.Thompson,D.P.A:;426 Merchants Bk.BI¢ ;.,Indianapolis,Tel.RIley 3160

SOUTHERN RA SEABOARD AIR

ILWAY SYSTEM LINE RAILWAY

REA projects are started andrt

N Y NH & Hart

N.Y. Bonds

(Reprinted From Late Times Yesterday) (By L. S. Mosely & Co.)

U. S. GOVERNMENT BONDS : Prev. Close close 21.11 121.14

41/8 1947-51 .ccecccesenccane 4s 1944-54 c...en.ne 946-56

esesenssssaces sessssscssnses ssecsesscesssen enssnesccscses

1949-50 Home 2%s 1942-44 23s 1949 ... 3s 1952 Federal 3Vas 1964 35 1

2%28

evi 103 ox aaiiaes vires v 105.1 Farm Mortgage Corp 105.26 106.3 105.11 105.12 DOMESTIC Today’s Bond Leaders— Prev. close Brazil 8s ’41 Col L & Pure Oil s Lehigh Valley 4s '03 Rep Steel 4l2s '50 ..

127%,

Prev. Close Alleg Corp 5s 100%: Alleg Corp 5s ’49 96 m Frgn Pow 5s 2 rm & Co_ (Del) 4s ’55 Atl Coast Line 4s '52 ... Atl Coast Line 42s '64 .. Atch Top & S Fe 4's 48 Am Wa 8 '13.... Balt & i e Balt & Balt Buff Beth Steel 4%s ‘60 Chi Milw & St P 5 Chi Milw & P

Colorado & So 4'2s '80 Chi & Nor West 434s ’49 Contains 'p 6 6

Grt Northern Grt Northern Grt Northern gen Stl Cast

nterboro Rapid Trans 5s ’66.. nterntl Tel & Tel 42s ’39. nterntl Tel & Tel 5s ’55 nterntl Tel & Tel 3128 ’52

New Orleans Term 4s ’55 Otis Steel 6s ’41 Penn Ry 4s ’6 va Penn Ry 4s ’84........1. venir Penn Ry 44s '81..... Seeds os Penn Ry 33%s 70 |..... Portland Gen El 4s Para Publix 6s '55 . Penn P & L 4s ’'81 Postal Tel & Cab 5s ’53 Rem Rand WW 4Y%s '56 Shell Union Oil 34s 51 Socony Vac 3Y%s ’50.. ou Pac 4l2s ’68.. Sou Sou Sou Sou Sou

& Hart 6

Warner Bros 6s '39 .. Western Union 5s ’60 Youngstown S & T 4s ’61 Youngstown S & T 3's ’51...128%2 FOREIGN Argentina A 8s ’57

DEFICIT OF U. §. GOVERNMENT IS OVER ESTIMATE

Treasury Reports Total of More Than One Billion Dollars in ‘Red.’

By United Press WASHINGTON, Jan. 6—The Federal government was $1,394,523, 665.61 in the “red” as it ended the first six months of the fiscal year 1937, the Treasury condition statement revealed today. The deficit was running ahead of estimates. President Roosevelt's revised budget estimate made last September foresaw a deficit for the entire fiscal year of $2,096,996,300. However, the excess spending figure was smaller by almost $500,000,000 than in the same period of the fiscal year 1936. Receipts, tofaling $2,158,305,452.90 were more than $160,000,000 ahead of those in the same period af 1936. President estimated total receipts for the entire fiscal year 1937 at $5,665,839,000. The heavy March tax collections, it was believed, would carry income close to if not above that estimate. The Government spent $3,552,829,« 11851 in the first six months, approximately $200,000,000 less than in the corresponding 1936 period. This included recovery and ie= lief expenditures of $1,425,965,830.74,

about $250,000,000 less than in the

same period the previous year. The national debt reached a near peak of $34,406,920,961.66.

LOCAL CASH MARKET

City grain eievators are paying $1.28 for No. 1 red wheat. Other grades on their merits. Cash corn now No. 3 yellow, $1.01. 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.

Australia 4!4s Brazil 8s ’ Canadian G Denmark 4%

39 11. Tokyo City 5's Yokohoma 6s ’61

TIMELINESS

Our weekly market bulletin is devoted to the analysis of industries in which an investment appears opportune. (Copy on Request) .

W. L. LYONS & GO.

Estab. 1878 40 N. Penna. St. LI-6563 Russell McDermott, Mgr. Members New York Stock Exchange. Chicago Board of Trade, and other principal exchanges.

ARE AS EASY TO ARRANGE ‘AS A CHARGE ACCOUNT

FIRST: Telephone, stop in, or write one of the two convenient Commonwealth offices and te the manager what you want.

SECOND: Call at the office, sign a plain note —just a simple promise to pay—and get 3 much as $300 in cash. NO SECURITY—=N

ENDORSERS!

Because we feel that you are as good as your word, you will not be asked to mortgage your furniture or car, not requested to furnish ene dorsers or pledge your diamonds. Sign a plain note—ijust a friendly I. 0. U.—and nothing

Anybody — both single persons and married couples—who can make regular monthly payments can get a loan here on just their simple promise to pay. Private consultation rooms are available for all interviews and every transaction is strictly confidential. Your friends, employer and relatives are not notified.

Simple isn’t it? As easy to arrange as a charge

account.

Above $100 our costs are even less than the new lawful charges in effect since October 1,

1936. Also auto financing and other types of loans at the same low cost. 20 months to repay. The faster you pay, the less the cost. You will be pleased with this revolutionary new service.

NEW LOW cosy ON ALL LOANS ABOVE $100

COMMONWEALTH LOAN CO.

Established 1887

200 Roosevelt Building,

Mlinois and Washington Streets,

205 Odd Fellow Building,

Pennsylvania and Washington Sts.’

Ll ncoln 249] wmssemes LI ncoln 8495