Indianapolis Times, Indianapolis, Marion County, 16 January 1937 — Page 12

“absorbed a million persons.

Trends

New Unemployment Study Is Needed, Flynn Says.

| _BY JOHN T. FLYNN

EW YORK, Jan. 16.—The President has asked Congress for an approriation of $790,000,000 for work relief for the balance of the fiscal year. This request and not be confused with the budget for the coming year, published two days before. That budget is for the fiscal year which will begin to run iy. 1; 1937, nd end June 9, 1938. The 790,000,000 apropriation just sked is for the resent fiscal year, which began July, 1936, and will end. June 30, 1937. It will be recalled that in 1936 when the President offered his budgct, he left out relief items. Later, lL.cwever, on Marcin 19, 1936, he made a request for relief appropriations. ee asked for $1,500,000,000. He pointed out that he had availa--ble a billion dollars for unexpended balances in the Treasury from the - preceding year. He then said that this, with an additional $1,500, 000,600 would suffice, provided industry did its part and reabsorbed labor. 8 F, however, industry did not do 1 its part, he intimated, an additional $500,000,000 would be needed, making the total relief appropriation $2,000,000,000. Now the fiscal year has five and a half months to run. In that time recovery has been on a very brisk basis. ‘In the eight months since the President’s statement, industry, according to him, has reBut now, the President feels called upon to ask, not for $500,000,000 he spoke

Mr. Flynn

8 ”

sof last March, but $790,000,000.

To this must be added, of course,

“the fact that in this year the states

and municipalities have taken over the problem of direct relief. How much that is we cannot even estimate as yet. The figures are offerzd, not in criticism, but merely in explanation of what these more or less confusing budget stories are about.

a 8

NHEY are also offered as an example of the continuing and persisting character of this work relief problem. Nowhere in the country has industry HER such a forward ‘thrust asin the Pittsburgh dis- - trict — Alle ghany County—where “the revival of the steel industry to about the levels of 1929 is one .of the features of the business year. Yet, in spite of this, work relief rolls, which were 37,000 at their peak, are reduced oniy to 30,000. This problm now forms one of the most baffling which confront the Administration. Many explanations may be made of it. But the subject is of such importance that no mere speculative explasa- - tion ought to be accepted. The " Government, the people should ‘have the precise facts and to that end a comprehensive study should be made as a preliminary to the formulation of a definite and long- - time program of handling this problem. (Copyright, 1937. NEA Service, Inc.)

Fruits and Vegetables

* (Quotations below subject to change, are average wholesale prices being offered to buyers by local commission dealers.) ruits—Pears, Oregon Bosc, 100s, 120s, $3.50; California Avocados, 20s-24s, box. $3. 75; Sreaon D’Anjou, extra fancy. 100s, $3.50; 0s, $4. Bananas. selected, lb. 43c. Kpbics. 20% 1 Grimes, 25 inches up, $2; 1 Indiana Delicious, 2'2 inches = 25; No. 1 Indiana Golden Delicious, 2! inches up, $2; No. 1 Staymans, 2% inches up, $1 0 0. 1 Jonathans, 2% inches up, $2.10; . 1 New_York Wealthy, 24 inches up, $1. oa No. 1 Rome Beauties, 212 inches up, $2; No. 1 Winter Bananas, 2'2 inches up, $1.75; No. 1 Winesaps, 2Y; inches up. $2; No. 1 New York Imperials, 212 inches up, $2. Lemons, Sunkist, 360s, $6. 50. Limes, Mexican, carton 12s, 25c. Grapes, California Emperors, 52 1b. chest oo 75. Cranberries, C. C. Howes, 25-lb,

California, Sunkist, navels, @ - quats, Floridas, at.. 15¢c. Pineapples. 30s. crate, $4.50. Strawberries, Florida, pt.. 20c. Vegetables — Artichokes, doz., Florida stringless, homegrown, bu., $1

. age, g. 90c; New Texas, crate, $2.25. ‘California. 3 doz. crate, $1.75. flower, 11s, crate, $2: Jumbo, Celery cabbage, homegrown, Cucumbers, Florida, bu., $6.50: Pry ; Chives, doz. pots. 90c. Egg Plant. Florida, 1.25. ale, Virginia, bu., 75c. LetTccherg. Arizona, 4s, $3.75; 5s. $4; . $3.75: leaf, hothouse. 15-lb. basket. 75c. Endive, California, doz., $1. Mangoes. crate, . $3.75: doz., 45c. doz., . Mushrooms, home-grown, 30c. Mustard, Texas, bu., $1.50. Onions. Indiana yellow, 50-1b. bag, 75c: Western Spanish, “$1.35; Northern White, $1.25. Oyster Plant, doz., 45c. Parsley. homegrown, doz.. 40c; Southern. large bunch, 60c. Parsnips, ‘homegrown, 1» bu. $1. Potatoes, Mime Green Mountains. 100-1b. bag, $3.50: Idaho Russets, $3.80: Michigan Rurals, $2. 75: Colorado McClures, Rutabagas, Canadian. 50-1b. bag, Sweet. Potatoes, ‘Tennessee Nancy Halls, hamper, $1.75: Indiana Jersey ‘‘Possums." bu.. $1.75; Louisiana Poto Ricans, bu.. $2.35. Radishes, buttons, hothouse, doz. 75c: white, 45c. Rhubarb, hothouse No. 1, 5-1b. carton. 65c. Sage. doz.. 45c. Spinach. Texas, bu.. $1. Shallots, doz.. 35¢c. Squash, Hubbard, bu. $1. Turnips. bu. $I. Tomatoes, hothouse. 8-1b. basket, $1.65: repacked, 10-1b. box, $1.25. ’

(By United Press) : CHICAGO. Jan. 16.—Apples—Michigan McIntosh, [email protected]. Sweet Potatoes— Louisiana, Peurto Ricans, $1.80@2. Carrots as, bu., 65@75¢c. Spinach—Texas, bu., . g0@175c. Tomatoes—Mexican, lugs, $2.25 «12.75. Catlin or CTR $1. 50a 1.85, Peas —California, hampers, [email protected]. Celery —Michigan, square crates, 50c@$1. Onions (50-1b. sacks)—Illinois and Indiana vel- + lows, 25@50c; Michigan yellows, 50s; Indiana and Michigan whites, 75¢c.

Produce M arkets

(The prices quoted ares pald for stock gathered in the country, while for delivéries in Jndiananolis the vrices are 1 cent higher. Each fal case of eggs must weigh 55 pounds gro eat—-No. 1° relly fresh, loss off, 18c Ibs. and over, 15c; eghorn breed hens, JSPTinzers 112-47 Leghorn breed jieavy rad stags, 8c: Legd stags, 6c: hea ayy eed gocks,

. Ducks, full-feathered fat, 5 bs. - and up, 9c. Geese (yliTeathered and fat, 7c. . Turkeys, young toms, 14-18 lbs, 1dc:

~_ over 18 lbs., llc: young hens, 10 ibs. and over. 14c; old toms, 8c; old hens. 8c: No.

r—Creamery, No. 1, 38@39¢c;: No. 2, Butterfat—No. 1. 33c; No. 2, 3lc.

OF ieavy breed he 55 under 5 lbs. 13C; heavy, 10c. Heavy breed lbs., 10c; over 4' lbs.

. Bsa

r United Prefs)

CHIC Jan 16. — Eggs — Market, ton iy: A ots Toos cases; “Fresh graded . firsts. 23%c; extra firsts, lac: dirties, 19¢c; Scurrent receipts, 21!2c; checks, 18c. 2 Butter—Market, steady: receipts, 7703 * tubs; extra firsts (90 51 2c score), 3234 33c. g3iras (92 score). 33%ec; specials, 34 @34'-c: firsts, 32@32'zc; standards. 3 Poultry—Market, steady: receip - ‘trucks; geese, 13@l4c: ducks, Reise spring chickens, 16@18c; broilers, 20@21c: “hens, 13@18%c: Leghorn hens, 9@]l3c: old roosters, 1l1@12c: # {urkeys. 13@18c. Potatoes—Old stock: moderate; demand, go0oO .. Idaho = Russett’ Burbanks. $3@3. Washington . Russet Burbank, $3.35. RR Red McClures, Seas. 25; Colorado Russet Burbanks, 90. sconsin Round Nh: 2 2001 : > (Sst $2@2. S.

™ No. 38 Basset “Rural $2.12 in @2. 3 9. rket. a supplies. light: grate! a1 oor ve ight:

igs ats TE No Chimphs: “track, ok. 366; “shipments,

this sum must

k Jelow, [email protected]

181.150 @1. Tea

Abreast of The Times on Finance

PAGE 12

CHICAGO WHEAT FUTURES DOWN IN QUIET TRADE

Foreign Market Weakness Induces Liquidation in Grain Pit.

By United Press CHICAGO, Jan. 16. — Wheat futures ruled easier in a quiet trade in the Chicago market today. A small volume of liquidation and

stop-loss selling induced by weakness abroad found the market almost bare of buying orders except at brief intervals. At the close wheat wad? off 1% to up % cent; new corn was off 1g to up ls cent, and old corn was up 1% to 4. cent.15 to 11 cent. Opening prices were down major fractions in response to a decline of 7s to 114 pence at Liverpool. Fears over the condition of the winter wheat crop following reports of damage in sleet covered areas of the Southwest brought out a spurt of buying that rallied the market to around previous closing levels. The buying was not great enough to digest the selling, however, and in the last hour of the short session prices again moved downward.

Oats were ‘off |

Liverpool Market Off

Pressure of Argentine wheat afloat offset purchases of Southern Hemisphere wheat by Italy and England and prices at Liverpool declined. The Buenos Aires and Rotterdam markets also closed lower. Winnipeg followed the Chicago trend. Corn and oats -held with little change from previous closing levels. Country offerings of corn to arrive were small but showed a little increase over previous days receivers booking 10,000 bushels to arrive. Rye followed the trend in wheat and sold off for net losses of nearly a cent a bushel under a fair volume of trading.

CHICAGO GRAIN RANGE (By United Press) Wheat:

May .... July .. Sept. Corn: . 1.11% Ceres 1. 08%

a 13.40 13.57 ay 13.75 *new,;. **old; a—ask.

CHICAGO PRIMARY Requiprs

Bushel Fodat. Last week

2 669,000 172,000

Wheat .

INDIANAPOLIS CASH GRAIN (By United Press) Wheat—Market, strong; receipts, 1 carload; No. 1 red, $1. 32Y%2; No. 2 red, $1.31%2; No. 1 hard, $1.341% 2; No. 2 hard, $1.33. Corn—Market, white easy; vellow and mixed steady; receipts, 15 carloads: No. 3 waite, [email protected]; No. 4 white, $1. Mize 1.06%2; No. 5 white, 35 02% salons; No. 0. 4 yellow 1021s @1.04%2; No. 5 yellow, 991206 $1. 5: *N No. 3 mixed, $1.03@l. 35: No, 4 mixed, si. 002 @ 03%2; No. 5 mixed, 97'2c@$1. Oats— 2, easy; receipts, 21 carloads; No. 2 wane 5212@53%¢; No. 3 white, 51%

CHICAGO CASH GRAIN (By United Press) CHICAGO, Jan. 16.—

es. mixed, $1.08%:@1.10; No. 4 11; No. 5 ysliow, $1. 05@ 2; white, $1. 12@l. 132; white, $1. 09; sample, $1. [email protected]%2 Oats—No. 2 whi ite, 56Y%c; No. 3 white, 541: @55%; sample, 53%c Barley—Feed, 80c@$1.; ®aalting. [email protected], Timothyseed—Old crop, [email protected]; new crop, $5.15@6. Cloverseed—$26.505233.50. Soybeans—No. 2 yellow $1.6 Cash rovisions—Lar loose, $12.62nominal; leaf, bellies, $16.50nominal.

TOLEDO, Jan, YE Srain close. yo an

0. 3

is. 35nominal; $12.3Tnominal;

2 yellow, Oats—No. 2 white, 60@6lc. [email protected]. Track prices— Wheal— Mo: 1 red, $1.31'2@ No, 2 red. [email protected]%%.' oT BmNs. 2 yellow, $1. tt 12; No. 3 yell $1.08% @i.11; No. 4 yellow, SL. 021561040, Oats —No. 1 white, 57@59¢c; No White. 56 @ 58'2c. Produce: ay oe 1- 1b. prints, 37)2c. Eggs—EXtras, 2112@22c

Rye—No. 2, (24%2¢ rate): f.e7%

LOCAL CASH MARKET City grain eievators are paying $1.29 for No. 1 red wheat. Other grades on thelr 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 cuttirg, $17.50@$18.50.

Investment Trusts

(By Thomas D. Sheerin & Co.) Bid. Asked. Administered Fund 2d 19.86 21.13 Affiliated Fund, Inc. (new).... American Business Shares

Ly. Diversified Trustee Shares ‘“B’”.13 ia Diversified Trustee Shares “C”. Diversified Trustee Sharles “D” 8. 20 xDividend Shares, Inc. 2.02 Fundamental General Investors Trust Ieorporated, Investors ... e nvestmen Maryland Pund § Cora. xMassachusetts Investors Mutual Investment Fund Nation-Wide Voting North American Tr. Shs. 1955. . North American Tr. Shs. 1958. North Amer. Tr. Shs. (orig.). Quarterly Income Shs. (new). Selected Amer. Sh.. Inc. (new) . 115.89 Selected Amer. Shs. (orig.).... 4.26 Selected Cumulative Shares.... Selected Income Shares State St. Investment Co orp.. Supervised Shares, Inc. (Del.).. Trustee Am. Bk. B Trustee Stand. Oilshares ‘A’. Trustee Stand. Oilshares “B”.

Unlisted Stocks (By Blyth & Co.) Bankers STPUBY oo viiiensneives

Eenirar S1anover feviay cesnsnes 18 Chem esessss.. 653% Continental’ Nlnels 22100 -194% Guaranty .......... rresinesen 8808 froasan .s . 163 ving 0 National City National Shawmut First National a on

FIRE INSURANCE Aetna Fire Insurance

Bid Asked, 74%

134 Ya 87%

344% 18%

Baltimore American Franklin Fire Federal Insurance Great American Insura National Fire ...

SATURDAY, JANUARY 16, 1937

Prepared by Administrahye and Research Corporation - New York !

NEW CORPORATE SECURITY ISSUES FIRST ELEVEN MONTHS OF YEAR

Refunding

New Capits! :

on!

o.f Dollars

An Billions

1929 1930 1931

During the first eleven months

V3 1932

2 1033 1934 1935, 1936,

of 1936 the volume of new security

offerings to the public recorded a substantial increase $0 the best level since 1930. Totaling over $3,980,000,000 capital flotations in the Janu-ary-November period of this year compared with $2,100,000,000 in the same months of last year and $5,286,000,000 in the 1930 interim.

New York Stocks

Transactions approximated 1,710,- ! 000 shares compared with 1,450,000 | shares last Saturday. Curb transactions approximated 633,000 shares compared with 502,000 shares last Saturday. Dow Jones preliminary closing averages showed: Industrials, 185.73, up 1.20; railroads, 56.30, up 0.65; utilities 37.26, up 0.21.

(By Thomson & McKinnon)

High. Low. Amusements— frosley Radio ve

Prev.

Close. close.

Vs 37% 17%

20th Cent Fox... Warner ‘Bros ... Aviation— Boeing Aircft.. Curtiss Wright. t Cur Wright “AY 21 Douglas Air .... 75% Nor Am Av..... 16 Sperry Corp 227 nited Air Lines 23% Un Aircraft New 30%, Trans Con & W. 2074 { Building—

m Radiator ... arber Co

2 1%

Warren ® Pros ‘ Chemicals—

Air Reduction Allied Chem ... Am Com Alco... Col Carbon . Com _ Solvents Du Pont Freeport Tex ... Liquid Carb .... § Math Alkali v Monsanto Chem. Natl Dis (new).. Schenley Dist . Tex Gulf Sul ph’ Union Carbide .10 85 US Indus Alco. 39% Drugs— Lambert Lehn & Si Parke Davis .... Walgreen Un Drug (new). Equipments— Am Brake Shoe. 71 Am Car & 2 Am Loco . Am Stl Fdy .... Bald Loco

38% 15%,

Pullman Inc West Air Br West Elec Foods— Am Sugar ... Armour Armour 69% pfd. Beatrice Cream. .

Holly Sugar . “vse Natl Biscuit ...

United Frait .o Sian cial Adam,

A ors : Com Invest Tr.. Transamerica . Household— Col Pal Peet ... Congoleum Mohawk Carpet. Proc & le. Servel Inc... Simmons Bed .. Mining— Alaska Jun

Cerro De Pasco | Dome Mines .... or Ore Homestake Min ia] o Howe Sound 703;

[ Dn $5 CN ON DICH BI 300 DI UT wT 14 LN ED D4

Isl Creek Coal . Kennecott Cop . Magma Copper. McIntyre Mine. . Park Utah

Miscellaneous— Allis cohslmers Can

% hi 50 1209, Eastman Roda. 175 2 illette 17Y,

tt IBN CID EBL TBD 0 Oh En

Int Bus Mach.. Inter Harv ‘18 oF Natl Cash Reg. . 327% nd ~257

em Worthing, Pmp. 41 1;

et pt

€0 Studebaker White Mtrs ... Yellow Truck Motor Access—

Bendix Bohn Alum . Bors Warner ri

PO ald dae)

Mf Elec Auto Lite oe Elec Stor Bat .. Qrevnound New Houdaille . ; Wheel Stew Warner Timken Det Axle Timken Roll Oils—

Amerada Atl Rig

Prev. High. Low. Close. Close. Shell Un ....... oi

Skelley Oil

Texas Corp . . Tidewater Assn. Un Oil of Cal..

ale

Can Pacific Ch & Ohio ..... 68 Chi & Gt W . Chi & Gt W pfd. CM&StP ‘ CM & St P pf. NW

hd EDN

Lehigh ey” Lou & Nash ...

K&T MK p, T pfd . .» Mo Mo iis vid ... N ¥Y Central .. N Y New Haven. NYOnt &W Nor Pacific

BO CONIDIA NI di bd [IO OR WLWO UID TRUER TN W MES

i ae hee C®

u R Union Pac Wabash .. Ww. Maryland Retail Stores—

Allied Stores ... Assd Dry Hoods First Natl St. 49

Gd Un Kresge S Kroger Groc Macy R H McCrory St. .... McLellan St . 17 Morshell Field. . Mon ard Natl Tear Penn Cc Bea "Roebuck. Woolworth. ..... Aviation Corp .e Rubbers— Firzstone . Goodrich Goodyear U 8S Rubber .... 51% U S Rubber pfd. 97 Steels—

Keystone Steel . 1 Ludlum Steel .. McKeesport Tin.. Mid Steel Natl Steel Otis Steel

Steel U S Steel pfd War. Pipe & Youngstn S Textiles— Adams Mills ...

Collins Aikman.. Gotham Hose ... Indus Rayon ... Kayser Julius .. Real Silk ...... Tobaccos—

Am Sum Tob Am Tobacco Am Tobacco Gen Cigars

a BI CO bt C100 BNI 14 4 BD

Te wan “«B” 9

- JOU ON

EEN. @ RAE ©

ar. Philip Morris Reynolds Tob B 8

Utilities— Am & For P ... AT&T. ......

G & Nat Pwr & Lt.. North Amer .... Pac G & E

So Cal Edison .. Std Gas Stone & Webster United Corp ... Un Gas Imp ...1} Ut Pwr & Lt ‘A” Western Union

o » . Building Permits ildi & Loan, 2314 Adams gi 2 aroad kv. 2% 1001 8. AT) St. . 28t S. E. Eden, 2379 Whesles St., repairs, 4 Charles Tehri S302 Broadway, dwelling, 45 y 3 Ors 2® RE 3269 N. Pennsylvania i Wills, 6423 Riverview Drive, oil hegien Le 6398 Washington Blvd., fue Br ine Co., 11 S. Illinois St.,

aliersyons, i Sin, ingialistions: Washington

garage.-

0, 2 is: 3 Ave., $175; : 0 0 eRe Canttol Bn 2 ee 31s Meridian St. ct : 150; 2995" Central sus: 2218

$320; 2 entr $175; 2917 Shelby Bt

1 Shelby St.

Busigraphs

RAILWAY EQUIPMENT PURCHASED (RAILWAY AGE)

MILLION DOLLARS

9 1930 1931 1932 1933 1934 1935. 1936

THE PARKER CORP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS

A most spectacular development in the transportation field is the size of the rail equipment orders placed by our railroads in 1936. It has been estimated that expenditures for cars, rails, locomotives, and other railroad equipment in Jose totalled $727,000,000. This is

e largest yearly expenditure since 1930, and a jump of 80 per

HOG PRICES OFF 2070 30 CENTS AT STOCKYARDS

|Advance Halted as Market

Lines Up With Slump in Fresh Meat.

After advancing for the past two days due to a scarcity of supplies, the hog market reversed itself today at the Indianapolis Union Stockyards in line with the decline of the fresh meat market and prices were unevenly 20 to 30 cents lower. Receipts totaled 2500. At the close 160 to 180 pounders sold for $10.40; weights of 180 to 200 pounds were $10.45; 200 to 225pound weights were $10.50; 225 to 235 pounds, $10.45; 235 to 250pound, $10.35, and the 250 to 260-pound class brought $10.25. Packing sows ranged from $9 to $9.50, top $9.60. Weights of 260 to 275 pounds brought $10.15; 275 to 285 pounds, $10.05; 285 to 300 pounds, $9.95; 300 to 325 pounds, $9.85; 325 to 350 pounds, $9.75, and the 350 to 400-pound class was $9.65.

Cattle Receipts Light

In the lighter divisions 150 to 160 pounders brought $10; 140 to 150 pounds, $9.75; 130 to 140 pounds, $9.50; 120 to 130 pounds, $9.25; 110 to 120 pounds, $9, and the 100 to 110pound class were $8.75. The cattle market was nominally steady with light receipts of 150 cattle and 100 calves.

Compared to the close of last week, strictly good, choice and prime steers and yearlings were 25 cents higher while common, medium and low kinds of good quality were fully 25 cents lower. The practical steer top was $13.50. Heifers closed mostly 25 cents lower, top $10. Bulls and cows were 25 cents higher,

The lamb market was nominal today on a run of 200 sheep.

Bulk. Receipts. [email protected] 8000

10.40 10.00

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

. [email protected] [email protected]

S.asa1n.39 .65@ 9

140- Light Good 2nd Shojce: 3 2.502 Ve diu 9.00@

Lightweight tT60-180) Good 2nd

ediu. . (180-200) Good md dium

e Medium Weights— (200-220) Good and (220-250) Good and Heavyweights— (250-290) Good (390-350 )) Good

choice.

choice. . choice. .

and

(329 550) Good (275-550) Medium Slaughter Pigs— (100-140)

(100-140)

60 .35 .20 .35

™O=100 WOOD © 2253 xghw =

‘eo ”

Sr ao ae mms OUD NU =I =I UN J JNU =T

(550-900) : Good (900-1100)

(1100-1300)

(1300-1500)

(500-750) Good

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

BOR) WB Os

(750-900)

SD 88:

Good Common ‘and medium Low cutter and cutter Salis good Cutter, com.

DDD S3hAD Goin

Vealers —Receipts, 100— Good and choice Medium

bbb pk

(250-500) Good and choice .$ gl oc CER i Feeder an ocker Ca (500-800) Good and choice 's ’ mmon, medium. (800-1050) Good and choice. . Common, medium. Heifers—

Good and choice

—- =o

2 90 swan

9d 2939 SH 029

50 .25 .50 .25 50 50

SHEEP AND LAMBS

—Receipts, 200— Lambs— b 00

seer essnsasase

wes— (90-1175) Sood and choice.. 4.50@ 5.50 Common, medium 3.00@ 4.50 {Sheep and in quétations on clipped

Other Livestock

(By United Press) CHICAGO, Jan. 1 0gs — Receipts, 6000, including 5000 directs: market ead with’ bidding steady with Friday's average to shippers; most local interests bidding steady with’ Friday’s average to shippers: most jd lower; choice,

100; calves, 100: market, steady; choice and prime steers, 25@ 0 h for week; most such sales. $13.50 up: top, $14.40; new crop high and for last 12 mon best Yearhngs. $14.25; .25: 1448 l1bs., $13.85: county 2 a $6@8 affair; half-fat feeders up

SS Hessipis 3500; market, fat lambs closing mostly $10@i5c Sheen, £55, hig er; week's equal peaks; close, ed $10. 28010.80; week's d westerns, 3 all shorn lambs, ter ewes, ay.

ba.

steady; lower;

[email protected]; choice slaugh124 lbs. down, $6.10, highest pr FORT WAYNE. Ind., Jan. 16.—Hogs— 225-250

Calves, $13. sl APAYDITE Ind., i i) arke ¢ lower; , stea $9.50 0.10; 55 avi

bs., $9. 12@9. 80; 300- % $101 325 1bs.

3990 250 9.1

49.60: 5 3gi0.23 1 8 [email protected]; 100-150 Bhs 80-13 30a av 50 Helier * Sin 25 S, . [email protected] dow own Ey Times Spesish LOUISVILLE, Jan - mated . receipts, 150 for Bs oT Sade-me less active on slaughter steers and yearlings but Prices generally steady; “cows Sirens to 25 cents higher: bulls unchanged; best

own, Natives,

few goo ed steers, [email protected]: ir $9.50; bulk of run shortfed $7.50@9; plain warmed up sorts, Wie cuttery and common ightweights, $5 @ most low cutter and cutter co 5 4.50; butcher common and m $4.50 oud: SRERELRE, food te, Sons, Bo and butcher Ss, @T.; - weight sausage bulls, $6.25: Dost bas 68; most sales, en stocker trade

cek x grade, as ower: 2.50; bulk. Sesirable handy- , late [email protected]: ‘mediums, $7.50@ 50; culls and common. sorts, [email protected]. Hogs—Estimated rents 200, including 100 direct: few sal os foday 2 25@35¢c lower than Friday; top Sie. or the week: good and choice 250 lbs. aad down around 35c lower; heavyweights, 15@25c off; sows. 25 gens down: closing too today. $10@45: bulk, good and choice 170-280 1bs.. quotai from [email protected]: 280-; 323 1bs., $10@ ; 4 .. $9.50@1 : sows, $8.50

ce to BO! ewes and we She 10. 5 tow small lots, choice, a oh Ja medium [email protected]: Site wo nd common

| Progress Launcry

New Business Books Available at Library

The following lew business books now are aviiilable at the business branch 9 the Indianapolis Public Library: EBB AND FLOW IN 1RADE UNIONISM, By Leo 'Wolman “The gains made By labor in a complicated economii society cannot as a rule be accuritely attributed to any single cause of factor. AFTER THE NEW. DEAL, WHAT? by Norman Thomas “Can we keep peac: by preparing for war and find prosijerity by minor adjustments to the jirofit system?” INTRODUCTION TQ CORPORATE FINANCE, by John (. Baker and Deane W. NMialott Cases and problem; which cover not aly corporate structure, financial instruments anc questions of financial policy andi management but also relations be fveen corpora=ions and the law and between bankng institutions and commercial and nvestment banks. INSURANCE STOCKS: AN ANALYSIS FOR INVESTORS, by Carroll G. Wyman, Jr.

‘“The long profitable pecards of the principal insurance .companie

WHAT IPVE BEEN THINKING ABOUT, by Hen:v Ford

“What I greatly Dork for children everywhere is a ne titude toward life—free Eo aby free from grec; and above alli expectant of change.’

RA TO SPONSOR SMALL LOAN AID

Underprivileged [farmers to Receive Help With Low Interest Rate.

16.—The Reion will consupervised, loans to Agriculture

By United Press WASHINGTON, Jan

settlement Administra centrate hereafter on low interest rate, smill farmers, Secretary oi Henry A. Wallace sai¢l today. Discussing the Rescitlement Administration’s plans now that it has been placed under thé Department of Agriculture, Mr. Wiillace said he considered aid to uaderprivileged farmers far more important than the widely publicized | housing activities of Rexford Guy Tugwell, recently resigned RA Administrator.

Last year the Resetilement made 5 per cent interest lozns to 300,000 farm families and helped 520,000 others by grants and {zed aid loans, Mr. Wallace said in a “adio address. Repayments of the loins by farmers have been “very Efatifying, ” he added.

One third of the farmers “who are on the bottom of the heap” must be encouraged to become independent if a permanent farm relief problem is to be avoided, the secretary said.

He said there had Jeen a “vast amount of misinformation” regarding the RA, and suggested that it would better have been named the Farm Security Administration or the Tenant Secwiy) ‘Administration.

Mf pemmmee

Local Secuyities

(By Indianapolis Bond and Share Corp.) he following quotations |do not represent actual bids or offerinds., but merely indicate the approximate | market level based on buying and sellitiz inquiries or recent transactions. BONDS | | i

2 .

» » «0

Ind Assoc Tel 4l%s Citz Ind Tel

OEUIBOWDHWE: UT UIN HUH 0

Indpls Railway Inc 5s '67.. Indpls Water Co 3'2s 56 . a Interstate Tel & Tel 5%s ’&i Kokomo Water Works 2s ! Morris 5 & 10 Stores 5s Muncie Water Works 38 Noblesville H L & Ohio Tel Serv 6% aH 5 Richmond W W 5s ’57... Seymour Water Co 58 49. . | T H Trac & L 5s '44.. T H Water Works 5s 56. T H Water Works 6s '49. Trac Term Co 5s 'D Indiana Tel To 5s '60 STOCKS

Belt Railroad & St Yds com |. Belt Railroad % Bt Yds pfdil. Cent Ind Pwr pfd Ts ... Home Tel & elt

Pl et ht fd od fk fd ed cd fd fd fod eh oh fd fd

I Ind Gen Serv Co 6s Ind Hydro Elec Cec 7s Indpls Gas go com 6s. Indpls Pwr Lit Co p Indpis Pwr & Lit Co bid 8% Indpls Water Co pfd 25 N Ind Pub Serv pid 3% N Ind Pub Serv pfd 6 N Ind Pub Serv pid, 7s

Pub Serv Co of Ind "hid 6s. |

New Bond Bond 1 isues

(By W. L. Lyons & a 4)

Allied Stores 42s 35) civreenii Ark La Gas 4s ’'51.. Aigentine Ren ays dy 4)

Seven

B & O 4% Cha Calif Ore Prw 4s 66 Cent Maine Pwr 4s 60 Cent Mainy pyr 3Yas ’ Cinti G & E 3 Yas: 65 Cleve Tractor 5s ‘45 Comm Credis 3Vas Cons G & E Cudahy Pkg 33%s Cudahy Pkg 4s os Fla Power 4s

'6 ’

Fla Power 5s oy: Houston Lt & Power 3, ndpls Water 8l2s '66 owa Sou Util fis ty

Minn Gas & Lite 4s ’50.......100 Mont Power 33s ’66. 9 Narra Elec 314s '66 New England Pow 3%s 61. is N Y State Flee Gas 4s ’65....

Pac Lightin; 4%2s Pac Tel 32s Peo Gas Lite Coke 4s '61.. Penn Tel 4s '65 Railway & Lite Sec 4Y,s ’55.. Sou Cal G & E 4s '65

46 Sou Nat Gas 4's ’51.........100}: Wisc G & E 3%8 '66..........105% Wisc Pub Svc 4s ’61 105

o o | i Daily Price irdels | NEW YORK, Jan. 16.—Dun radSireevs daily | weighted Drice Inde br 30 basic compos ities, compiled for | United Press. 0-32 average 10 i —Today, 143.49— Led Year ago ..... 1429-38 igh ..! 144.62 ow {1415.13 & Brads} et)

Safe Deposit Bosel The

Indiana National Bank | of Indianapolis

Month ago ... (Copyright. 19317, by Dun

.| Aluminum _ Co. of America...

+ 1936 over 1935. purchaser with $6,872,877.

{MEAT PRODUCTS

GAIN DURING '36 DUE TO DROUGHT

Larger Number of Animals Slaughtered as Result Of Feed Shortage.

Times Special

NEW YORK, Jan. 16.—Occasioned largely by drought conditions and resulting feed shortages throughout the Middle West, a much greater number of animals were sent to slaughter in 1936 than in 1935, according to a report appearing in Poor’s Industry and Investment Surveys. : Preliminary figures place the aggregate volume of meat produced

under Federal inspection at 17 bil- | 3:

lion pounds in 1936, a 17 per cent increase over that of the previous year, the report said. By divisions, pork increased 35 per cent, beef 16 per cent, and veal, 8 per cent; lamb decreased 4 per cent in contrast to the general trend.

“The year also saw an improved domestic demand, with per capita consumption of meat and lard about i0 per cent greater than in 1935,” the report stated.

Prices Forced Down

“Ordinarily this would have spelled substantially larger profits to the packers. But prices were forced down by increasing supplies, the decline being as large as 20 per

cent in some cases, such as the better known cuts of pork and lamb. This reduced the profit gains of meat packers to modest proportions.

“The United States Department of Agriculture estimates that new meat supplies will be smaller in 1937 as a result of both the abnormal slaughter of 1936 and—granted fair crops—the natural desire of ranchers to rebuild their herds.

“This should mean higher meat prices with resulting haat profits to the packers, until consumer resistance again becomes sufficiently strong to exert pressure for lower prices and reduce the packer’s profit margins.”

Ch icago Stocks

(By Atkins, Hamill & Gates) Prev.

close.

Advance Alum ..........0,.. /s 83s Allied Products ve 7 20 Asbestos Manufacturing . 3% Associate Investors 53%s Bastian Blessing 4 erghoff Bruce E. 24 Central Ties Pu Service .. Chicago Yellow Ca Commonwealth Sabon Cord Crane,

Electrical Household General Household . Godchaux Sugar ‘‘A” Great Lakes Dredge Jarvis Co .e I5atz Drug . . cavissinreain Ken-Rad Tube Libby McNeil Zhe Libby Lincoln Printi Lion Oil Loudon i Marshall Field Mid-West Corp pfd Northwest Engineers ... Noblitt Sparks Northwest Bank

New York Curb

(By Atkins, Hamill 35 Gdtes)

Close. Close.

American General . . Arkansas Natural Gas Barium Steel v Cooper Bessemer Consolidated Caner Carrier Corp. Columbia Oil Dero Grey Iron Dejay ores Electric Bond and Shore Eagle Picher Lead : Ford Motors. Canada Greenfield Tap andDie Corp... Gulf Oil, Pen Humble Gil nn efining Co! Hygrade Food : Hyler Prefered Tena tonal Vitamin Lion Oil Niagara ‘Hudson Power -.... Pan-American Airways Root, Petroleum Rustless Iron Spencer Stores Segal Lock . Sl Oil of 2 oes Sterchi Brother Sunray Oil Stutz Motors Tilo Roofing . Twin Coach Thew Shovel Woodley Petroleum

Commodity Prices (By Abbott, Proctor & Paine) COTTON NEW YORK

December. ... Spot, 13.07; ‘up 3

NEW ORLEANS

December : NEW YORK COTTONSEED OIL Prev

‘ High Low +s 11.49 11.42 211.87 11.30 ... 11.64 11.56

BUTTER

Close 11.49 11.57 11.64

Margh Ma, oe July - ..

January

A CHRISTMAS SAVINGS ACCOUNT WITH

THE INDIANA TRUST

MEMBER OF THE FEDERAL DEPOSIT INSUKANCE CORPORATION

roy i i

BUSINESS EDUCATION |

n Accounting, Bookkeeping, stenographic and Secretarial courses. Day and evening sessions. Lincoln 8

W. Case, Principal.

AL Business

Fred

CAPITAL SURPLUS

$2,000, 000.00

Aeronautic Exports Up

The Department of Commerce today reported a record 45 per cent increase of aeronautic exports during China was the outstanding foreign

‘Year ago ...

| Youngstown S & T 4s

N.Y. Bonds

DAILY BOND INDEX (1926 Average Equals 100) 20 20 20 Inds. Rails Util. Toda vee 104.9 Sry day .. 94.8 Weeg ago .. 94.7 Month ago . 94.6 92.8 1936 high .. 94.8 1936 low ... 90.0 (Copyright, 1937, by Standard Statistics)

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

1947- -52

. 103.83 103. 1949-50 .. none 10% 18 Home Owners Loan Corp. Ba = eerih. ions veele 02.30 102.31 ant 10631 1094 JeRoral Farm Mortgage Corp.

105.13 105.17 sevebisuanys ... 105.14 105.17,

194. 47

DOMESTIC Today’s Bond Leaders— Consolidated Oil 35s *51 Great Nor RR 4s '46 .... Hudson Man First 5s 57 Inter Tel & Tel 4%s '53 ..... 74, Republic Steel 4's ’50 .......139

RE m———

Prev, Close, 10534 122%

Close. ..106

Close.

. ..110 iveevases 93Va Balt & Ohio 425 ’60 vveve.ess. 78 Beth Steel 4%s ’60............105% Big Four 45s °’ vesesesss 98Va Big Four 55 63 ..... cere. 104% Buff Roch & Pitt 415s '57 .... 913 4 Chi Mil & St. P 5S 15°. .....0. 3434 Chi Mil & St P 5s 2000 ....... 115 sp Cleve Un Term 5s '73 . 110% Col Gas 5s May ’B3 eceeestin Col Gas 5s '61 Can Pac Perp o> se Cen Pac 58 ’ Chi & Nor West 4% %5 ey Container Corp 6s, Con Gas 4? is 51. 1 & Id ¢ Erie 5s '75 = Grt Northern “G"” 4s *46 ....1237% Grt Northern “H” 4s ’46 ....109% Grt Northern 42s 17 ..... 10734 Gen Stl Cas WW 512s 49 .... Hud & ih *5s 157 een

Nor States Pow 5s ‘41 . New Orleans Term 4s '55

4s 70 Portland Gen El 4154 Penn P & L 42s 81 Postal Tel & Cab 5s °53 .. Rem Rand WW 2%s ’56 Shell Union: og hs 51 Socony Vac 3's ’50 Sou Pac 4las Sl

Sou Rails 6s "56 Halk Sou Rail 6's ’56. Texas Pac 5s Texas Pac 5s ; Third Ave Adi = °80. United Drug 5s ’53 U_S Rubber 5s 47. NY NH & Hart 6s '48 NY NH z Hart has 67 Warner Bros 6s ’39 Western Marv 5s '77 Western Union 5s ’60 1 '6 Youngstown S & T 3'%s ’51..

FOREIGN

Australie 5s WO. ae ‘et. Brazil 8s Canadian Govt 4s ’60.. German 5%s ’65 German 7s Italy Ts Janan 612s Poland 7s Rome 65s Tokyo City 5lhs 61. Yckohama 6s ’61

105 "130%

Money and E Exchange

INDIANAPOLIS STATEMENT Sieatings Debit

Svan for week

9.944000 Debits for week ....

seevessvanes . 49,739,000

TREASURY STATEMENT (By United Press) WASHINGTON, Jan. 16.—Government expenses and receipts for the current tise

cal year Sheng Jan. 14, as Sonera with a year

ast Year Bxpenses $ 3 is. Sin 350.00 $ i 037, 5 % Focsints 312.730, 675.0 08,4 Deficit .. : a

x .464,484,782. 30, Gold res. 11,306,319,948.39 10, Customs 235,845,668.32 20

5,145.48

FOREIGN EXCHANGE (By Abbott, Proctor & Paine)

Country $5. 3507 England xFran

.0526 .1695 .4033

4537 4537 4537 1.6931

anada ....... xPar undetermined.

CONVENIENT CLASSES

Downtown Afternoons, Evenings

Accounting Income Tax Corporation Finance Investments Insurance Economies Statistics Economics Business Law Public Speaking Advertising Psychology Sociology Primitive Man Physiology Chemistry Zoology World Politics Government History Literature Fiction Writing Radio Scrips and Practice Mathematics Philosophy French and German Interior Decoration Human Diseases Vocabulary Study How to Think Teacher Training

113 Classes Begin Feb. 1

Fees $3 to $2