Indianapolis Times, Indianapolis, Marion County, 23 January 1937 — Page 11

3

- a ET A «oe SE ne A TI

x

: Sunkist sels, 31 50 12s,

Trends

Exploitation Piles Up Big Losses, Flynn Says.

BY JOHN T. FLYNN

EW YORK, Jan. 23.—A strange story, with an important lesson, is told by the Interstate Com-

merce Commission about the New

York, New Haven & Hartford Railroad. This railroad has had plenty of trouble. It is now in bankruptcy. But the traveler who has used its

lines must wonder why such a railroad should have so much trouble. It runs through the most populous and richest territory in the United States. It passes through many important and populous cities and towns—the great manufacturing centers of our most abundantly endowed producing territory. It has enjoyed a monopoly in its field. For many years it had its way with State Legislatures and city governments. Yet it has

Mr. Flynn

‘lost money year after year and now

is in the hands of the bankrupt

: court.

Why should such a. road lose money? The answer is that it has not lost money; that, if we look at the road itself, it has made

money and ought to be in a flour-

ishing condition today. z E4 » HEN why the losses? The answer is found in a circumstance which ‘has made more trouble for American business than any other one thing, which explains the losses of billions leading up to and into this depression and

which has crippled railroads, power companies, industrial plants, banks, insurance companies by the hundreds. Stated simply, the answer is that when a railroad ceases to be just a railroad and goes into all sorts of other lines—when a bank ceases to be just a bank and takes on all sorts of other enterprises — from that moment on it ceases to be a good railroad or a good bank.

Railroads, banks, insurance companies, investment trusts, power companies suffer their greatest losses from outside activities which they take on. And they take these on usually because the promoters seek to use the resources of a railroad or bank or utility conipany to exploit their own fortunes. The ICC has studied the financial history of the New Haven Railroad for over 25 years. During that time this road, for reasons of its own, was buying up streetcar lines, other railroads, warehouses, bus lines, steamship companies.

” ” ” N THESE outside investments the New Haven steadily, year after year, lost money. In the years since 1913 it has lost $71,000,000 outright and $154,000,000 in carrying charges which came out of the

road’s earnings. It stands to lose another $105,000,000 through the depreciation of securities which it qwns and which have been deflated. Here is a total loss of $330,000,000. That is the story behind the New Haven. . If it had not gone into these foolish investments, its profits would have been, according to the ICC examiner's report, $66,000,000 as of Oct. 23, instead of a loss of $3,962,000. Stockholders would have gotten dividends, the railroad would have had a surplus, its managers would be able to use its funds to improve service instead of paying for dead horses. Businessmen insist they : know how to run business. I think they do. But they ought to be made to run it and not turn it into a bazaar of endless departments, out of which they pile up losses for the public while they are crippling a railroad or a bank. (Copyright, 1937, NEA Service, Inc.) ee

Fruits and Vegetables

(Quotations below subject to change, are average wholesale prices being offered to buyers by local commission dealers.) ruits—Pears, Oregon Bosc, 120s, $3.50; California Avocados, 20s-24s, box, $2.75; Oregon D’Anjou, gists fancy, 110s, $3.50. Bananas. selected, . 4%c. Apples—No. 1 Grimes, 22 ae up. $2; No. 1 Indiana Delicious, 2% inches up, $52.25; No. 1 Indiana Golden Delicious, 2'2 inches "wn 2 No. 1: Staymans, 22 inches 25. $2; 1 Jonathans, 2%, inches up, $2.10; No. ry New York Wealthy, 2% inches ho Or 65; No. Rome Beauties, 2Y. inthes up, $2; No i Winter Bananas. 2% inches up, or 73 No. 1 Winesaps, 2% inches up, $2: No. 1 New York Imperials, 2Y> inches up. $2. Lemons, imes, Mexican, cargr rapes—California Emge: 5. Tangerines, % Grapefruit, Texas seedless, 40s to 305, 95 Oranges, California Sunkist, navels, $4.50@5. Kumquats, Floridas, qt., c. Pineapples, 24s-30s, crate, $4. Strawberries, Florida. pt. 16c Vegetables—Artichokes. Son s1 25, Beans, Florida Finglas hamper, "$2.50. homegrown, bu. $1; new Texas, 3 doz. crate, $1.75. Broccoli, California, case, $3; bunch, i5¢.. B 1_ Sprouts, ber drum, $3.25. Cabbage, New York, 50-1b. 85¢c; new Texas, .crate, $2. Carrots, Conforans. bulk, bu., $1.25. Saulifiowen, 11s, crate, $2. Celery, “Mammoth a

. Parsley, doz., 40c; Southern, large bunch, c. Parsnips, hofegro own, 90c. Potatoes, Maine Gre Mount: aD 1001b. bag. $3.40: Idaho yy $3.75; Michurals, $2.65; Colorado Ml Clyres, Rutabagas, Canadian, 50-lb. b . Sweet Potatoes, Tennessee Nancy Halls, hamper, $1.65; Indiana Jersey ‘Pos- * bu., $1.65; Louisiana Puerto Ricans, Radishes, uttons, hothouse, e, 45c._ Rhubarh, hothouse, carton, 55c. Sage, doz. 45c. Spinach, > as. bu., 3h Shallots, doz., 35c. Squash, Hubbar x, rnips, bu, $1. Tomatoes, repacked. '10-ib. box, $1.25.

oy United Press) CHICAGO. an. 23.—Apples—Michigan Molntosheo $1. 35a. 75. Sw on t Pol Louisiana Porto Ricans, $1.90@2. Carrots —Illinois. bushel, 50@175c. Spinach—Texas, bushel, 60c@$1. Tomatoes—Mexico lugs, 3 203.0 peat California, * crates, as — California ampers, [email protected]. Celery ,— Mic R crates, 60c@$1l. Onions 50 sacks)—1Illinois and Indiana yellows, 35@60c;: Michigan yellows, 35@60c.

Produce Markets

(The prices quoted are paid for stock gathered in the country, while for deliveries in Indianapolis the prices are 1 cent 5: pou Bach tan case of eggs must weigh unds Eggs—No. 1 strictly fresh, loss off, 17c

Hea avy breed hens, 5 lbs. and over. Sao Leghorn breed hens, heavy, . savy breed springers, 1% lbs. over. soft meate rn breed norm bre 8c. Heavy 2s reed Stags, 6c: Ducks, fun-Sgath-oe) 3

and u 1p ies evs. vous

®

Eo

Abreast of The Times on Finance

CHICAGO WHEAT FUTURES RALLY ON CROP FEARS

Commission Houses Lead in Broad Buying and Net Gains Result.

By United Press CHICAGO, Jan. 23.—Broad buying led by commission houses rallied wheat prices on the Chicago Board of Trade today and substituted small net gains for initial losses.

At the close wheat was 3% to % cent: higher; new corn was 1% to % cent higher, and old corn was to % cent higher. Oats were 1; to % cent higher. Fears over the condition of the winter wheat crop in the Southwest inspired by by subzero weather and a deficiency in snow covering were the main influences in the day's short session. Houses with Southwestern connections bought the new crop deliveries after an initial setback caused by decline abroad.

Other Grains Firmer

Prices moved upward with shorts covering their positions for the week-end. Resting orders to sell checked the advance before net gains of a cent a bushel had been registered. Pressure of Argentine wheat and a slow milling demand forced Liverpool wheat prices down for net losses of 1% to 13% pence. Winnipeg | U opened weaker in response to the decline at Liverpool but steadied later on buying by exporters.

wheat and followed the leading cereal upward in the final hour. Prices at the close, however, were steady to a shade higher. Trading was light in volume and showed little speculative interest. Other grains also ruled firmer at the close with rye showing net gains of about a cent a bushel.

CHICAGO GRAIN RANGE (By United Press)

High. Low. Close. 1.26% 1.28% 117% 1.12% 1.08%s 1.08%

1.08. 1.07 99% 99% 91%b .90%

.84n 84

1.5 136%a 1.56%

... 13.35b 13.37 13.42 13.62

13.67 13.65b 13.67 : New; t old; n nominal; b bid; a ask.

CHICAGO PRIMARY RECEIPTS

.00 424,000

INDIANAPOLIS CASH GRAIN (By United Press)

Y hes! Market, firm; receipts, : car-

.05'%; No. 5 white @1.03; No. w, [email protected]% yellow, SLO ze 00%; 5 yellow @$1.01%; No. 3 mixed , SOL G1. 03: 4 mixed, 96@98%c. Oats—Market, aa receipts, 12 carloads; No. 2 3 e, 49%2@ 50%c; No. 3 white, 487 2@50%2cC.

CHICAGO CASH GRAIN (By United Press) CHICAGO, Jan. 23.—

@ ; hew crop, Cloverseed, [email protected]. Ca. —Lard, 7 nominal; loose, $12.55 inal; leaf, $12.37 nominal; bellies, nominal

noms $16.50

LOCAL CASH MARKET

City grain elevators are paying $1.25 for No. 1 red wheat. Other grades on their merits. Cash corn now No. 3 yellow, $1. Oats, 46c Hay—No. 1 timothy, $13.50@14: No. 1 clover, [email protected]; No. 1 alfalfa, !A first cutting, [email protected]; second cutting, [email protected].

Commodity Prices

(By Abbott, Proctor & Paine) COTTON NEW YORK

Getober on Jan. (1938)

Low. Close. 12.37 12.4 12.26 12.10 11.74 December 11.80

NEW YORK ‘COTTONSEED ol, Prev. Close. 1.40 11.46 11.50

Low.

ns .« 11.35 11.33 11 11.40

= Ha 11.43 SUGAR

Close. 11.34 Prev.

2. 2.89 2.86

2.84 2.82

BUTTER

2.85 July, n Nominal.

January

JBONUATY oo.nve.viivve. inns

U nlisted S tocks

(By Blyth & Co.) Bid, Asked. Bankers Trust ... .. ok a

Chemica Trees. NOT Continental Illinois ..ccevve...208 u

irieresnnisise BD

ut . First National Boston.. FIRE INSURANCE

Aetna Fire Insurance American Ins of Newar Baltimore American . franklin Fir federal Insuran Great ATboananc ® nsurance.

J re Westchester Fire

Daily Price Index & Brad-

asi commodities, om! United Press (1930-1932 average 100):

~Today, 141.70—

SATURDAY, JANUARY 23, 1937

AVERAGE WEEKLY EARNINGS

Week > o

428 66 —428 36 —428.15—

November, ‘1936

IN REPRESENTATIVE INDUSTRIES

48y 9 Adm and Research Corporation-New York Source National Indusinal Conference Board

$2737

Dollars. per ~ o

AUTOMOBILE BOOK PRINTING

o MACHINE TOOLS

Corn opened lower along with B

| Parke Davis

sh —rovisions |'C

Close 90°

0

IRON, AND STEEL

$26.08

2584 $25.42

ELECTRICAL MANUFACTURING MEAT PACKING CHEMICAL

$23.84 $22 52

> ~ ® |

FURNITURE PAPER PRODUCTS BOOT AND SHOE COTTON, NORTH:

a

New York Stock

Exchange Prices

Transactions approximated 1,120,000 shares compared with 1,710,000 shares last Saturday. Curb transactions approximated 527,000 shares compared with 633,000 shares last Saturday. Dow Jones averages showed: Industrials, up 0.15; railroads 56.05, oft utilities 37.02, up 0.08.

(By Thomson & McKinnon)

High Low Close Amusements— Crosley Radio .. 35 Loews e 4%, aranoun Radio Corp . 2 31% RKO 8 20th Cent Fox. . Warner Bros ... 1 Aviation— Aviation Cor . Boeing Aircft «. 36 Curtiss Wright, Curtiss Wr ‘A’.. Douglas Air .... Nor AS ay vis err or we ot ir Tes as oa Aircft yao Trans Contl & W Building—

dz, Badiater oer

preliminary closing 186.68 0.03;

U S Gypsum ... Warren Bros ...

Chemicals—

Air Reduction .. 78 Allied Chem 2372 Am Com Alcohol 28%; Col Carbon .... 123% Com Solvents Pont Freeport Tex ... Liquid Carb . Monsanto Chem. 9 Natl Dis (new). Schenley Dist .. Tex Gulf Sulph. d0% Union Carbide ..105% U S Indus Alco. 1% Am Home Prod. 50

Drugs— Bristol Myers Lambert Lehn & Fink .

Sterling Prod te n Drug (new). Chem .... 4 Equipments— Am Gar > Fay.

Am ia An Steel Fdy vr Bald L

Pullman Inc West Air Brake. 50 Westinghse Elec 164%: Financial— Adams Exp .... 18%Allegheny Corp. . 4% Am Int C [6

2 Transamerica .. 16%4 16%

Pools Arm 9%2 AT roy pid. 8912 Borden Prod . 2673 Cal Packing

Can Dry ES Ale. 0

912 89% 26

G W Sugar .... Hecker Prod ... 15% Holly Sugar .... Loose Wiles ....

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

r Servel Mining— Alaska Jun

Kennecott Cop . Magma Copper. . McIntyre Mins. . 40% ele Shoes 53 s Dodge .. St Joe Le a ven 4%

a Vanadium Miscellaneous— AIS Chalmers. . §

Am Mach & Fdy p Anchor Cap . Brklyn Man Tr. Sufronghs Add.. J I Cas

Contl .C: Gaterpilfar Tracy Crown Cork .. Curtis Pub Deere & Co Eajiman Rodak 1 Gillet 73% Glidden 47% Theaveall Rand. 1: 3s 13134 Inter Harv .1103 110 Natl Cash Reg.. 435 Rem Rand 5 Underwood 3 Worth’ ton mp 4

1 9% 2 2%

3 464

Studebaker Mtrs ... Yellow Truck ...

Motor Access—

NN ES

IBD #4 DI BO b=4 1B 18h 4 14 CN OO NN

Timken

Amerada Atl Rf

gale B11 Pet 52% ps Pet .... Plymouth Oil Pure Oil Quaker Stats iy Seaboard Oil ... 4

e nm... Skelley Oil . Soc Vac ...

Tidewater Asin E Un Oil of Cal. Balls Atchis Atl Coast Lines B & O

Can Pacific Ch & Ohio Shi & & Gt & Gt & St

2% CM & St P pfd 5% 5%

BUSINESS EDUCATION

Strong Accounting, Bookkeeping, Stenograpbic and Secretarial courses. Day and i on Lincoln 8337.

Low. Close.

pfd 291, Gt J pid 8 on Central

St Valley .. u & Nash ....

Penn z

Sou RR .... ysion Paé

Wabash West Maryland .

Retail Stores— Allisq Stores ... t & Co

4s 8%

17% 58

Kresge S S Kroger Groc Macy H McCrory st

cLell - Marshall Feld”

Woolworth

Rubbers— Firestone

ubber U S Rubber pid. 98 Steels—

Acme Steel 652 Am Roll Mills.. 35

Rey Tob ‘B’

Prev. High. Low. Close. Close. 8%

57%

Beth Steel

ee U 9 Steel pid . Youngstown S&T 17

Textiles—

Adams Mills . Amer Woolen.... Belding Hem ... eae, Corp .. 30% Indus Rayon ... 377% Real Silk ....... 12% Tobaccos— 25%

. 98 y 232

527s lard 244,

Philip Morris ... : 30 ve B34

Utilities—

Am & For Pwr. 13% Am Pow. 5 Lite. 15

Am Wat Wks Col Gas & Elec 1 Comm & Sou Consol Gas Elec Pwr & Lit. Interboro & TT... 13 Int T Lou Nat Pwr & Lit."

Std oy Stone & Webster United corp, Un G Ut Pwr & & 1% “Ar

Western Union.. 82'%2

New York Bonds

DAILY BOND INDEX (1526 Aversge 0

7 low

(Copyright, Standard Statistics)

19317, by

F. S. Moseley & Co v'% GOVERNMENT BONDS

Treasurys

43s 1947-52 ....... 4s 944-54

sess se0s0000ccne secscssensnsscces

sessesecsssnccse

3s 12% 3s 1942 2%s 1049

New Bond Issues

(By W. L. Lyons & Co.)

Bid. Allied Stores 4s ’51 Ark La Gas 4s ’51 . Argentine Rep 4128 71 ..... oe

105. 103.30

Fla Power 5s '66 Great Nor 33%s Houston Lt & ndpls Water 3's owa Sou Util sis %:: Kansas P = Lo

3 Fheland Fow Cis 81.. NY State Elec Gas 4s ’65.... Chio Edison 3%s 72 kla G & E 4s 35

Bd ed fd fd fd ft fb fh fd »

10734 101%; 0 105% Ys, 106%s

Local Securities

(B; Wii olis Bona and Share Corp.) follow, ing quotations do not repreey actin) 8 or offerings, but merely based Sn “sly? Loh "seine cites or recent ST Selling anquiries or S040

Ind Assoc a 418 Citz Ind T ng ? H Tel & A! 1 (TH). 42 5 6’:

Sou Krafty 55 46 Sou Nat Gas 4's ’51 .. Wisc G & E 3'%s ’66 .. Wisc Pub Svc 4s ‘61 ..

_ Bld. A -106 11103%

Gu nt fk dd fd nd +k ft fd fd dk ud pb fb Ey C3 HCO

; : 1

Belt Railroa e. allro Belt d & St Yds com

ilroad Cent 1nd Bad Fae ue

dp Indpls & Tit Co pid 8s.

4 95 Indpl Ear jidbls r & Lit co pd. 8%s. 100% N Ind Pub :

DOMESTIC Today’s Bond Leaders—

Am Balt Balt &

uff ch & Beth Steel 4Y%s w & St P

Grt Northern 4s Gen Stl Cast WW tas 9 oe

Ill Cent 5s ; Faterhoro Rapid Trans 5s 66 Interntl Hy Elec 6s : Interntl Tel & & el Lr Ty ne

Lehigh Valley 4s 2003 McKess & Rob 5%s

M Natl Dair Natl Stee ’6 . Nickel Plate 4Y,8 18 ... Nickel Fe Date Sas “4. ...

Ot Jo

o ) C0

P DO Tel & em a Shell Union Oil 3%2s ’51 . Sou Pac 4%2s '68 ........... oe Sou Pac 4%as 81 ..... Caneisies Sou Pac 4s '49 ..... canvsevnes Sou Rail 4s 56 .... Sou Rail 6s ’56, Ls Sou Rail 6's 558

Bd fh bp od fond fh fh fh fk fod fd fund fd fd fd 2 3

Warner Bros Western Mary 5% Western Union 5s Youngstown 8 & Youngstown S

s & T 4s ’61 ... & T 3%s ’51... FOREIGN

Argentina A 6s ’'S e+ 10272 Australis 4 42s 58" 102% Denmark

rman Prey 65 ..ecenes Ge TI

Rome 62s ’52 3 . Tokyo City vas 61 . Yokohama 6s

1 nvestment Trusis

D. Sheerin & Co.) (By Thomas Bid "Asked 20.06 Eh 2% 1.43 3. 72 5.2

74 80%

Salesmanship Public Speaking Advanced Stenography

Bookkeeping

| SENTRAL Business College

Jllinoi: St

a

Y.M.C. A. EVENING HIGH SCHOOL

FOR MEN AND WOMEN Four-Year Course can be completed in three years. —Other Courses Offered—

CLASSES Now FORMING

Radio Service

Drafting Aviation Ground School Diesel Motors

PAGE 11

HOG PRICES OFF DUE TO LACK OF

Market Declines 10 Cents at Stockyards; Receipts Stil. Small.

Lack of buy ng demand lowered hog prices 10 ci nts today at the Indianapolis Uni¢n Stockyards. Very few buyers wer: in the market and all classes mo/ed lower. Receipts totaled 1000 wth 585 holdovers. At the close, 160 to 180 pounders were $10.50; wiights of 180 to 200 pounds broughi $10.55; 200 to. 210 pounds, $10.60; 210 to 225 pounds, $10.55; 225 to 235-pound weights, $10.50 and the 235 to 250-pound class, $10.45. Packing sows! dropped 25 cents, ranging around $9 to $9.50. Weights of 250 to 260 pc inds brought $10.35; 260 to 275 pouiids were $10.25; 275 to 285 pounds, i10.20; 285 to 300 pounds, $10.10; 300 to 325 pounds, $10; 325 to 350 pounds, $9.90, and the 350 to 400 pound class were $3.80. Lamb Tide Nominal

In the lighter divisions 150 to 160pounders sold fiir $10.15; 140 to 150 pounds, $9.90; 130 to 140 pounds, $9.65; 120 to 13! pounds, $9.40; 110 to 120 pounds, £3.15, and the 100 to 110-pounders wee $8.90. The cattle an¢ lamb markets were nominal with riceipts of 50 cattle, |: 25 calves and 80 sheep. . Compared to the close of last week, fed stee’'s, yearlings and slaughter she stick were steady to 25 cents lower vith the market recovering a good jortion of Monday's 25-cent downtur ji, Bulls were st¢ady. Vealers were $1 to $1.50 lowir. Week's top on 1148-pound stee:s was. $13.50, but some were bouglii to arrive at $13.65 and $14. The bi lk of the steer and yearling sales ringed from $8 to $10. Most heife!s sold for $6.50 to $8 and a few biought $9. Closing top for bulls was $6.50. Vealers were

1 $12.50 down late!in the week.

Jan. Bulk 18. [email protected] | 19. [email protected] | 20. [email protected] ' : 31 [email protected] |

Me Lightweights— (160-180) Good an | dium

e (180-200) 5

Medium Weights (200-220) Good (220-250) Good Heavyweight S—

‘choice... [email protected] [email protected] . [email protected] . [email protected]

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

£hojcs. . [email protected] choice i 10

an; ani’

ani; ani:

50) Goo (275-550) Medi Siaughtet Pigs— (100-140) good Jang | choice. .

GE its, 50— (550-900) Good

te

DDD 44 B50 ims £3 21D tna I 2 4D but BD

/ »

C (900-1100) Go

3553 rt C1 2 163 rt pt

Co! (1100-1300) G

| eae wb craTe LE SUOUOOUNOINUSD

=

M (1300-1500) G

(500-750) y Goo

00! Common, medium.§ Good ant: choice.. Common, medium.

rt

CUMOUID ~IVUNUN-IO DIU IE DIL [

OOOO O oooUooUoUININO

(750-900)

. Seams ©Ea0Eo

Common and mediur | ... Low cutter and Cutie hives Bulls, good Cutter, com.

99399 03993 SII

ooooW,m Senn

NO Lg SSomw

Ve: lers —Recei] ts, 25— Good and choice ium

(250-500) Sood anc.

choice. .$ 6 Common,

5 medium. 5.0 e 5

a0 wo ==]

Feeder and | tocker Cattl (500-800) Good an( choice..$ 6.5 . 2

ommon, : medi (800-1050) Good ant cho

Co ommon, medi Heifers— Good and choice | 5. Common and medi in 4. SHEEP A]'D LAMBS —Receir 5, 800—

= aS annm

D3 todd ou ovioWw

Lambs—

50-175) Goog anc ¢ chotes ommon, medium {Sheep and lamb ( uotations

Other “Livestock 2 Dai d rend) alo E ajallel, 5-250 1bs., : 350- 275 1bs.. Ibe. “59.95: 130-300 Ibs” .85: "140-150 1bs., $9.10: 130-140 Ibs., $9.25 120- 0-130 Ibs., 8.95; [00-120 1bs. 70: [ough $10.25. ? $12

bas

stags, Calves,

Jan. 23.—Hogs—Mar-

S, J wn. Western lambs, Native lambs, $9.50@10 down. ’

KEEP INFOIIMED

Downtowi: Classes Afternoons. Evenings

Popular Lectires _____$3

The World Situ; tion Primitive Man Interior Decors :ion Huma: Disease Local Public Wi fare Activities (Free)

down,

Broadening Courses __...__$10, $15

State Governmi ut Sociology How to Think Psychology Economics Social Aspects |{ Personality Shakeshedre History

Skill Gourses | l--- $5, $25

Fiction Writing Radio Techniquis Public Speaking Adveryising 3 Languages Le Writl ig osounting

: Cs English Teaching

173 Classes I egin Feb. 1

Indiana University Bx Division

BUYIN; DEMAND

preceding week.

Chicago Stocks

(Py Atkins, Hamill & Gates) Close. Close. Manufacturing 17 1612 Alum cen Manufacturing ... Investors Blessing

sevens annas

Katz Drug Ken-Rad Tube . Libby McNeil and Libby... Lion Oil Loudon Packing .e Marshall Field Mid-West Corp pd’ Noblitt Sparks

B oe Standard Dredge pid. Ssscaseve Swift ternational Schwitzer-Cummins Woodall sense sessnssaee Woodall ces. covvecisitossavonse ZeNIY v.cveeiciiisnciavasenes

New York Curb

(By Atkins, Hamill & Gates)

sssccsscse sscsesccse

seven,

Prev. Close Close Aluminum Co. of America.... 167Y2 American Airline American Cynamid “B” Am Gas and Electric ... American General .. se Arkansas Natural Gas Barium Sisal ich Carrier sreveny Chicaso Femivie Shaft .. Colum Oil Consolita ted Copper Cooper Bessmer

Eagle Picher Lead Electric Bond and Share . Ford Motors, Canada - “A’ General Tire Gresnesld Tap and Die Gulf, Oil, Penn Humble Oil. and Refining Co. . Huyler pfd Hygrade Food Jnsernational Vitamin Li10! National Rubber _.. Niagara Hudson POWET vevess Pan- AlRericsn Airways Root Petr sesssee Rustless re ni Steel cceeeee S Sega os

Spence Standard on Cot Ohio Sterchi Brothers ... Stutz Motors Sunray Oi Tilo Roofing Twin Coach . Woodley Petroleum

Other Livestock

(By United Press)

CHICAGO, Jan. 23.—Hogs—Receipts, 9000, including 8000 directs; steady with Friday's arly ding on good to choice, Sor WH @10.40; available supplies mostl weights and light lights, top, $10.

Cattle—Receipts, 100; calves, 100; market, steady; strictly good. Choice and prime steers, strong to 25c¢ higher for the week: common and medium grades, stead to 25¢ lower; closing trade active on all grades, but Reighiy steers at premium; ; new high; medium Wipe 3 ‘45; $14.25; , weighty 1

essen

bid10.25 ight-

AVE 85 fi

12: i 3 largely $012 75; bulls, firm; vealers, $1 lowar. Sheep—Receipts, 5000; market oy! slaughter lambs strong to 10c higher than week ago; yearlings firm, but slaughter Susen weak to 10c ower; week’s lamb top, $10.90, paid for choice fed Weseerns at midweek: best natives, $10.85; bre ood o choice native and fed Western otter ngs, 20 [email protected]; few good 80-lb. fall clipped lambs, $9. 25: Texas yearlings of comparable grade, $9.25; slaughter ewes, $5.25@6; mostly, top, $6.10. (By Times Special) LOUISVILLE, Jan, 23.—Receipts of all classes of livestock confined to iis gency consignments from flood a All markets nominal. Receipts Friday, Sattle, 480: calves, 23: hogs, 267; sheep, none. Shipments Friday, cattle, none; calves, none; hogs, none; sheep, none.

Produce Markets

(By United Press) CHICAGO, Jan. 23. — Eggs — Market steady; receipts, 6139 cases; fresh pid | firsts, 21%c; exig firsts, 22c; dirties, 18c; current receipts, 20%c; check: 's, 17c. tter—Market, steady; receipts, 7224 tubs; extra firsts (90-91% score), 31Yc extra (92-score), 32c; specials, Se @ise: firsts, 30% @31c; standards, 32c. Pou Hiry-—Markel, steady: trucks; 14@15c; duck T1@ 19c: 12@17c; Leghorn hens, 9@12c; roosters, 11@12c; turkeys, 13@18c. Cheese—Twins, 17@17%c; Daisies, 112 @ 19%c: Longhorns, 17% @17%e. Potatoes—Old stock, supplies moderate; demand, good; trading light on account cold weather; Joris: firm; gato Russet Baivents, [email protected]; U. S. No. 2, $2.90@

@3.25; Colorado Red McClures, $3. 23234 Wisconsin Round Whites, $2.30@2 20; Michigan Russet Rurals, [email protected]. New stock: Supplies, moderate; demand, light; market, steady. Track sales (less than carlots) : Florida, bushel crates, Bliss Triumps, $2.05; U, S. No. 2, $1.80 for bushel crates. oT, 70; on track, 274; shipments,

Bank Clearings Gain Bank clearings in 22 major cities rose more than

seasonably in the week ended Jan. 20 to a total of $6,563,176,000, an increase of $617,805,000 from the

marke opened:

2.95; . Washington Russett Burbanks, 5 13

~ I

DILSLEADN.Y. LIST; TREND IS UNEVEN EARLY

Steels Rally to Small Gains With Motor Shares at Previous Closes.

By United Press

NEW YORK, Jan. 23.—0il shares took over leadership on the Stock Exchange in the short session to= day. They rose fractions to more than a point and bolstered a list that was markedly irregular in the early trading after a steady opening. Dealings lightened after the recent pace. Standard Oil of New Jersey, leading blue chip of the oil group, was the feature. It reached a new high at 70%, up 1%. Others to make new tops, included Barnsdall at 3415, up 1; Phillips Petroleum 521%, up 115, and Atlantic Refining 35%, up ig Amerada touched 109%, up 2 points, and held most of the gain Socony Vacuum was active at the previous close. Pure Oil gained nearly a point to 227% and fractional advances were made by Ohio Oil, Houston, Seaboard Oil, Union Oil of California, and Standard of Indiana. Steels rallied to small gains. Motor shares came back to the previous close or made small gains after early declines. Consolidated Edison at a new high of 493, up 134, led a rise in the utilities. Rails firmed small amounts. Mercantiles were mixed. Coppers were steady.

New Highs Listed

Among issues to make new highs for a year or longer were Alpha Portland Cement at 36%, up %; Container Corp. 293%, up 1%; General Theater Equipment 33%, up 11%; Hercules Powder 180, up 2; Mead Corp. 323%, up 2%; Mohawk’ Carpet 397%, up 1%; Nash-Kelvina-tor 21%, up 3%; Peoria & Eastern 8%, up 1%; Thompson Starrett 97%, up %, and "United Electric Coal 8%, up % and United Paper Board 14, up %. Among the losers were Allis Chalmers, American Can, Case, General Electric, International Paper, Republic Steel, Union Pacific and Yellow Truck.

Money and Exchange INDIANAPOLIS STATEMENT Clqatings sesveie +8 2.374.000

9 ,000 Clearings for week . 16.884.000 Debits for week . 46,970,000

TREASURY STATEMENT (By United Press) WASHINGTON, . 23.—Government enses and receipts for the current fiscal year ending Jan. 21, as compared with a year ago:

This Yea ast Yea 1 5.-$ 4,047,583, “6d. i» $4 Ls 181, 121 13 ] 1067,774.8 Deficit. .

1d res.. 11,3232 a . 246.042,266.69

FOREIGN EXCHANGE (By Abbott, Proctor & Paine) Prev. Par Country $8.2397 England ... *France .

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