Indianapolis Times, Indianapolis, Marion County, 26 January 1937 — Page 16
Business Is Better Run as Units, Flynn Says.
Trends
Abreast of The
es on Finance
*
PAGE 16
TUESDAY, JANUARY 26, 1937
Tnacitee Gold Piles Un r
The Treasury’s inactive gold fund, created under the gold “sterilization” program, sodred above the $100,000,000 mark, the Treasury's daily statement for Jan. 22 2 Showed today, totaling $103,248, 646.
1936 BUSINESS
BY JOHN T. FLYNN
EW YORK, Jan. 26.—Some years ago an English economist wrote a book advocating what he called a functional society. The idea is worth thinking about now when there is so much talk about the holding company. For the holding company is a powerful weapon for defeating the opera-
tion of those essential functions which business performs. A grocery store is, quite naturally, a place of business, where some industri=ous man is trying to make a living for his family. But in another sense it is part of an important ; function — the distribution of food. A railroad is a business enterprise in which many men find work and many others find a means of making a living or a profit. But it, too, is also part of the social function of transportation. These functions of food productiQn, food distribution, transportation, banking and so on are essential to our security and happiness. And we are interested as practical people in having them periorieg intelligently.
" » ” B*: as it happens they must be operated by men. And men, as we all know, have certain limitations. Their intelligence is limited. Their judgments, sometimes good, are frequently bad. But, more important, we know that the
intelligence, however good, is at the mercy of our emotions, our morals. A man who is angry, who is excessively kind-hearted, - eager to help friends or to punish enemies, or who is timid or audacious, will permit these emotions to color or warp his judgments and he will make many grave mistakes. The man who is greedy, predatory, will use his judgment not to run his business soundly but to use it for excessive and quick profits. This simple fact is of great economic and social importance. An enterprise will be run better if the men who run it have intelligences which are freed as far as possible from emotional and moral forces which sway the judgment and whose problems are not complicated by being inter-mingled with other and contradictory problems. If a newspaper is owned and operated by newspaper men it will be far better run than one which is just part of some extensive business enterprise, in which the newspaper is just a department of some holding company which owns banks, railroads, power companies.
8 ® 2
HE problems of the newspapers will get all mixed up with the problems of the banks and power companies and the newspaper will usually go to pieces. The same thing is true of th bank, the railroad, the factory. Yesterday I commented upon a report of the ICC about the New Haven railroad. That road is in bankruptcy because it took on a lot of outside, nonrailroad activities and lost on them in 25 years around $330,000,000. If the railroad managers had stuck to running the New Haven road they would have made profits instead of losses and they would have run a better railroad. All this leads to the idea of the functional society in which business enterprises will be limited to -a single important function. . The bank will be a bank and nothing but a bank. The railroad will be a railroad, the automobile factory a manufacturer of automobiles, the “investment trust an investment trust and nothing else. And the men who run them will be bankers, railroad men, motor makers, investment trust managers and nothing elsé. All these enterprises will be better run. The society they serve will be richer. (Copyright, 1937. NEA Service, Inc.)
eo ° Local Securities (8y Indianapolis Bond and Share Corp)
actual bids or offerings, but merely fodicate the approximate market level
bassd on buying and selling inquiries or recent transactions.
BONDS Bid Asked. 4128 '65 106 108 104% 1052 106%
Mr. Flynn
ater Works 5s 5 10 Stores 5s ’'50. ater Works 5s '65.. HL&P 6%2s 47. «10
Belt Railroad & St Yrds com.. Belt Rejircay & St Yds pfd.. Cent Ind Pw d 7s 30 Jjome a & Hoo Inc Ind Ey Nid =
RL Laundr Pub Serv Co of Serv To ©
Unlisted Stocks
(By Blyth & Co.)
Bankers TrUSL seve cecvesdance to - Soh s
Se al Illinois - guaran ALY ove eiiarees teasnee 334
rvin a Sa National ys RE National Shawm! First National FIRE INSURANCE
Aetna Fire Insurance ‘American Ins of Newark Baltimore American ..... Franklin Fire ] (
eral Insurance hard American Insurance .. National Hartford
- Hanover Fire National Liberty shease Nort
oe
U 8B Pire on Westchester ‘Fire soeqesee
LEVEL IN STATE UP 23 PER CENT
Building Tops Years of 1932 To 1934 Combined; Payrolls Gain.
Times Special : BLOOMINGTON, Jan. 26.—A larger amount of building was done in Indiana during 1936 than in 1932, 1933 and 1934 combined, according to the Indiana Business Review published by Indiana University. The Review showed that the general level of business activity in Indiana averaged about 23 per cent higher in 1936 than during 1935. December was the forty-third consecutive month during which general business conditions compared favorably with the corresponding period a year earlier. “Several lines of business activity registered further gains during December,” the Review said. “There were also a few declines but
peri from 1930 to 1935 and about equal to December of 1929,
Some Near 1929
“Most retailers were well satisfied with the volume of holiday trade they secured. Department stores - sales made more than the usual seasonal upturn. Some stores reported as much business as during December, 1929. Hardware sales were about 20 per cent above a year ago. “Drug store sales made more than the usual seasonal upturn and were well above a year ago. Most merchants waged aggressive sales campaigns and newspaper advertising was 16 per cent above December, 1935.” Pointing out that automobile sales continued to set records, the publication said, new car sales were about 25 per cent above the previous December record. Used car sales were nearly 30 per cent higher than during any other December. Coal Mines Active Data compiled by the Indiana State Employment Service indicated that employment was 2.6 per cent higher during the second week of December than during the like period a month earlier, the Review showed. A like comparison for payrolls showed a gain of 6.1 per cent. It now seems certain that final data will show that employment gained more than 15 per cent’and payrolls gained at least 30 per cent during 1936. : “Domestic demand for coal was light, but industrial consumption was heavy and operating schedules in Indiana coal mines were expanded by more than the usual seasonal amount,” the Review said. “A larger amount of electricity was consumed in December than during any previous month.” “Most divisions of the iron and steel industry were very active during December and early January. Furniture production was well above the like periods in the last six years and slightly above December, 1929. With few exceptions, plants producing automobiles and auto parts were busier than a year ago.”
Fruits and Vegetables
(Quotations below subject to change, are average wholesale prices being offered to buyers by local commission dealers.) ruits—Pears, California Avocados, Oregon D’Anjou, exire fancy, Bananas, selected, 1b., App) es of Indiana Delicious, Sp A ches 5p Ni diana Golden Delirious, 2Y; Sa : inches” 3 5 32
) SLT:
can, carton 12s, Em
250, rors, 32-1b. chest $3.75. Tangerines, ox crate, 120s, $1.15. Grapefruit, Texas seedless, 40s to 80s, $3. ranges. = California Sunkist, navels. $4.50@5 Kumquats, Floridas, qt., 15¢. Pineapples, 17%2soe $3.75. Strawberries, Florida.
Vegetables—Artichokes, doz., $1. 225: Beans, Florida strin less, per, ‘$2. 25. Beets. 2 0z
Tex “Broccoli,
ew California, case,
. ge, A , 85c; new Texas, crate, $1. Hi Ho SHE. bu., $1.25. Cauliflower.
: Celery. 85c. Celery Cabbage, Mich Cucubbers, hothouse, doz.,
80s, $5. i Xe , $1.50. ppEndive. , eppers, Bhigoes, Mint, + 60c. Mush1b., 2 Sten Texas, bu., $1.50. Onions, Indiana yellow, 50-1b. bag. 75c; Western Spanish, $1.3 Northern white, $1.25. Oyster Plant, a $50. Targe homegrown, doz., 40c; Southl e bunch, 50c. Parsnips, home90c. Potatoes, Maine Green aids, 100-1b. bag. $3.4 40: a Russets, £3.85; Michigan Rurals, - $2.75; Colorado McOlures, Rutabagas, Canadian, 50-1 pag. Se Sweet Rotatoes. Indiana ry ossums,”’ Louisiana Puerto Ricans, bu., Pia Radiohis. buttons, hothouse, doz., 75¢; Bs 45c. Bhubaty , hothouse. No. i, 5-1b. carton. 55c. Sag 45c. Spinach, Texas, bu., $1. Shaliots. %joz., 35c. Squash, Hubbard. bu. $1. Turnips, bu. $1. Tomatoes, repacked, 10-1b. box, $1.2 y $
feof hone doz., crate, $3; doz., 40c. Do arava,
United Press) CHICAGO, 6.—ApMes—Michigan MoTatoa $1. ea Sweet otatoes, Louisiana Porto Ricans, [email protected]. Carrots—Illinois, bu.. 60@80c. Spinach— Texas, iT 65@90c. Tomatoes—Mexica an, lugs, 2.25@3. aul aT] ia, Sea} es, $2. Ba2. 50. Peas—Mexican, hampers, $4.25 @4.75. Celery—Michigan, square EStie Trews: .50. Onions (50-1b. sacks)—Illinois and Indiana yellows. 25@50c; ichigan JoHows, 0532@60 c; Indiana and Michigan 8
Produce Markets
* (By United Press)
CHICAGO, Jan. 26.—Eggs—Market, firm; gece ts, Cos cases: fresh graded firsts. 23c; extra firsts 19c; ka receipts, 23c: Shave. c, Butter—Market irm; receipts, 30130 tubs: Extra Brsls (00-911: Scots; 2la@ 32%c; extra (92 score), 33c; Spectils, 33% @34c; firsts, 31%: @32%4c; standards, 33c. Poultry— far)iey , firmer; eipts. 40 trucks. 16¢c; ducks, 10@17%c: spring chickens, ie 19c: broilers, 21@23c: ens, 12@17%¢; pleehoh hens, ize; old roosters, 11@12c; jurkeys 13@18 Cheese—Twins, 1 O17% 5 Gaistes, 171% @ 17%c; longhorns, 17%@17 Potatoes (old stoc J otic, liberal; early track sales slow on account of cold weather; rket, steady. Idaho Russet Burbanks. [email protected]; Lojgratn Red MeClures, $3. 25% Wisconsin $2. S. Comm Srciale $2. Russet Rurals, [email protected]. Supplies, moderate; pers not openin, weather» ate Monday, track sales less than carlots; Florida Dushel crates, $2.10; & as (50-1b. sacks), 2.05, a Tivals, 56; on ALL 273; shipments,
UNDIVIDED PROFITS CLIMB Times Special
vided profits of $23,937,771 for 1936, a gain of $5,551,737 over the preceeding year.
Rush Jobs Make Us Smile
Hendren Printing
Compan ny, Inc. 470 CENTURY )G. RI-8533
NEW YORK, Jan. 26.—The Bank- | , | ers Trust Co. today reported undi-
No. 2
request, written or personal, from the offices of collectors. Persons whose net income for 1936 was derived chiefly from
excess “of $5000 should make their returns on form 1040A. Persons whose net income was / in excess of $5000, or, regardless of amount, was derived from a business, profession, rents or sale of property, are required to use a larger form, 1040. : ® 8 = AILURE to use the proper
both the taxpayer and the Bureau of Internal Revenue.
Your F ederal Income Tax
Returns Must Be Made on Proper Forms—1040A For Salaries Under $5000, 1040 for Those Over.
FORMS FOR MAKING RETURNS
ORMS for filing returns of income for 1936 have been sent to persons who filed returns last year. Failure to receive a form, however, does not relieve a taxpayer of
his obligation to file his return and pay the tax on time,
on or before March 15 if the return is made on the calendar year basis, as is the case with most. individuals.
Forms may be obtained upon
salary or wages and was not in
form presents difficulties to
Therefore, it is emphasized that a taxpayer engaged in a . business or profession from which he derived a net income’ of 1 than $5000 is required to use the larger form. The return must be filed with the collector of internal revenue for’ the district in which the taxpayer has his legal residence or principal place of business on or before midnight of March 15, 19317. The tax may be paid in full at the time of filing the return or in four equal installments, due on or before Maren 15, June 1 September 15, and December
-
(By Thomson & McKinnon)
High. Low.
Amusements— Crosley Radio .. Loews Inc { Datdmount
32 %
RKO : 20th Century Fox 38% ’ Warner Bros.. 5%
lar Philip Morris -s Reynolds Tob ‘B’ i
Aviation—
Aviation Co Boeing Airc t. Curtiss Wri ht. Curtiss Wright A Douglas Air .... Nor Am. Av evs Shery orp United Air Lines Unitd Aircft New Tr Contl & West
Building—
Am Radiator .. Barber Co .
Warren Bros . ip Chemicals— Ar Reduction...
Freeport Tex .. Liou Carb . Natl Dis (new).. Schenley Dist. 13% Tex Gulf Sulph. 0% Union Carbide ..105!} Am Home Prod.. 40% a Drugs— Lambert Sterling Prod... Un Drug (new).. Equipments— Am Oer & Fdy.. Am loco ....... Am Steel Fdy .. Bald Lo G . Gen Elec .......
Pullman Inc .... West Air Br.... Westingh Elec . Fipanta Asn}
Com Invest Trust ao Lehman Corp ...1273 Transamerica .. 163
ve Cream. 26_ Borden Prod .... 267s Can Dry G Ale.. 30% Coca-Cola iw a
Corn Prod Crm of Whea Cuban Am Sugar Gen Baking . 17 gan Foods
DOC bs 03 =I WRN UTD ~JLID DO Wr
Un Biscuit «.... Household— Col Pal Peet ...
31%; Simmons Bed .. 53!3 ' Miscellaneous—
Alls Spamers . 1s Can an Mach & Fdy 2314 Anchor Cap 325
Brklyn Man Tr.. . Burroughs Add nse
1 172 . 80%
481% Ingersoll Rand. sale Inter Harv ..109 -
em nderwood E_... ; Worthington Pm. 45: “Mining— Am _ Metals Am Smelt
Utah Phelps Dodge. . St Joe Lea us SmOTeers. +o Vanadium ...... 30
Motors—
eo . 6 Studebaker ..... 16% White Motors .. Yellow Truck .. 2
Motor Access—
or Greyhound mew) Motor Wheel. . Ho Warner A mken Timken Roll. xls Olly
Atl Rf]
1 U S Rubber ....
Yas . Wisc Pub Serv 45 01 .. 61 ...
g Filing Supplies, Guides and Folders
New York Stocks
10:00 Low. A.M.
52% 53 3
20%, 5% 25%
High.
53 - 20 V2 257%
Texas Corp .. water Asn’. Un Oil of Cal..
Balle ~ Atchis
3 “Atl ot “Lines. 45 B & O 22
Ye Shi & Gt %% pid 12% CM& St Ppfd 5% Chi NW ih Chi 'N W pfd.. Dela & Hud»
Eri Gt. Norio pid 3% Ill Cent 233
ash 37% West: Maryland... 9% Retail Stores— Allied Stores ... 15% Assd Dry Goods. First Natl Stores 2, Gimbel Br 213 Gd Un Te Kresge S S .... Kroger Broc ver: 2 Macy R vane BD McCrory Be ATR McLellan St Marshall Field. .
Woolworth Rubbers— Firestone Goodrich Goodyear y 152% U S Rubber pfd 96 Steels— Acme Steel Am
tee U S Steel pfd.. 1493; Youngstown S&T 17%
Textiles—
Amer Woolen ... 1334 Belding Hem ... i Celanese Corp .. Cluett Peabody... Collins Aikman . Gotham Hose .. Indus Rayon ... Kayser Julius ..
Voilitlosm:
Am & For Pwr.. 12% Am Power 5 Lit 137s AT&T
Am Wat WKks. Col Gas o Elec. . Com & Sou Consol gon Flee Pwr & Lit. t T&T
= G & E Nat Pwr & zh!
8 26Ys
d Stone & Webster United Corp ... Un Gas Imp 15 Ut Pwr & Lit ‘A’ 81%
Western Union.. 813
| New Bond Issues
(By W. L. Lyons & Co.)
Bid Ask Allied Sires 4%a8 61 ... oe 3 78 Ark Li s 4s '51 ve¥
Cal Ore Pwr 4s '66 ..... Cent Maine Pwr 4s ’'60 . Cent Maine Pwr 32s "66 . Cinti G & E 3%s ’66 ... Cleve Tractor 5s '45 . Cons G & E P
Fla Power bs Great Nor’ Ss Houston Lt & Power 3'2s8 68... [Indpls Water 3l%s '66 . ‘ owa Sou Util 5%s ’50 . Kansas P & I 4Y; Koppers Co 4s '51 Long Island R R 4s 349 [.os Angeles G & E 4s '70 ., Louisville G & E 3Y2s 2608 .. vs Mengei 5Y, Sat 47 Metro Ed ’8 Minn Gas & Lite = ’50 . Narra. Elec 3's New England Pow 5 las '6 N Y State’ Eléc Gas 4s '65 Ohio Edison 3 i 72 Okla G & E 4 Okla Gas & E i 3%s WE c Cc 3%s ’66 ....
117 108% 104%, 1034 100% 102
od ? BLE... Railway. & ite Sec Ae 55 1 ii. Sou Cal G & E 45 '65 .....105%a 106% Sou Kraft 4Ys ’ ies Wisc G & E 3 104% ..105%,
Money and 7d Bichange
INDIANAPOLIS STATEMENT
Clearings voce essonrssrvessvsrsn $2,894,000 Debits gs 7,053,000
TREASURY STATEMENT (By United Press) - WASHINGTON, Jan. 26.—Government e ses and receipts for the current fisyear ending Jan. 23, as So with a year ago:
This Yea Expenses . $4, gso, 638, 2440. 32 sii 35. 36a 5.366. 87 J. 2/387/555.022.00 2,085,937.116.75 eficit ....
Gold res..
,170 5 Customs .. 248.9 Erih 610.88 . '215, 870, 254.95
to 325 pounds,
105% | Mm,
SWINE MARKET DECLINES FROM 10TO40 CENTS
Underweights Show Largest
Drop as Prices Sustain Further Losses.
Further losses were sustained in the hog market today at the Indianapolis Union Stockyards. Weights above 160 pounds and packing sows declined 10 cents and the underweights were unevenly 15 to 40 cents lower. Receipts were 7000. At the close, weights of 160 to 180 pounds sold for $10.30; 180 to 200pounders brought $10.35; 200 to 210pound weights were $10.40; 210 to 225 pounds, $1035; 225 to 235 pounds, $10.30 and the 235 to 250pound class brought $10.25. Packing sows ranged from $9 to $9.50. Weights of 250 to 260 pounds sold for $10.15; 260 to 275 pounders brought $10.05; 275 to 285 pounds, $10; 285 to 300 pounds, $9.90; 300 $9.80; 325 to 350 pounds, $9.70, and 350 to 400 pounders were $9.60. In the lighter divisions 155 to 160-pound weights brought $10; 150 to 155 pounds, $9.75; 140 to "150 pounds, $9.50; 130 to 140 pounds, $9.25; 130 to 130 pounds, $9; 110 to 120 pouhds, $8.75 and the 100 to 110pound class, $8.50.
Vealers Up 50 Cents
The cattle market was mostly steady on steers and yearlings with the bulk selling for $7.50 to $11. A new steer top, the highest in nearly a year, was established at $13.75. Heifers were mostly 25 cents lower and ranged from $6.50 to $8. Cows and bulls were generally steady. Beef cows sold for $4.75 to $5.75, the cutter grades, $3.75 to $4.50. Top prices for sausage bulls was $6.50. Vealers opened steady and closed 50 cents higher. The good and choice kinds ranged from $12 to $13 with late ‘top of $13.50. Receipts totaled 1800 cattle and 400 calves. Fed western and native lambs were 25 cents lower with the bulk of the good and choice kinds at $10.25 to $10.50. Slaughter sheep were steady and fat ewes sold for $4 to $5, top $5.50. Receipts were 4000.
Jan. Bulk Receints 20. [email protected] 6000 21. [email protected] 22. [email protected] 23. [email protected] so [email protected] 2 ne 10.40 nt Ligh (140- 160) Good m and .
htweights: List (160- Sik Good and osominss m \
[email protected] [email protected]
8
Medium Worn (200-220) Good and (220-250) Good and
SD
choice. . choice. .
© 0 2D dD 8 = SD nN on
© VOD © bY BOMW © ano Ras =]
choice. . choice.
3 d
Packing Sow (2 -3 (3 (4 o
-50) swughter Mea (100-140) Good a and choice. .
NDDD BD
DOD
=30 32 23ax
8d 3933
—Receipts, 1800—
50-900) ¢ : Good
pl
C (900-1100)
ooLMUIIOUND tpt FRR ID 0 «JODO NTO NDI NT UIOoOoUIOOoOMOoOUUIOW
X939999999983
C (1100-1300) Good
— 3 © OD RD TOF ID
Inmuoomuiaiig
NOOO Fo ek ft et pt
M (1300-1500) G
—-
004030 a IC aSaad
(500-750) Choice Sood.
mmon, medium. (750-900) Good and choice.. mmon, medium.
gRmno SRJnT ONO NN p-
88233 05933 93333
ood Common and medium Low cuties and SUED: .s\ sees Bulls, goo: Cutter, com,
Vealers —Receipts, 400— Good and. choice Medium
masma SST. ooouwm
288 fut beat D3 te
we 09 0999 ©3 69d
Calves (250-500) Sood and choice..$ mmon, medium. Po and Stocker es (500-800) Good and cho ommon, med (800-1050) Good and cho mmon, med Heifers—
Good and choice
a3 10
—- oO Hnak
SHEEP AND LAMBS
—Receipts, 7000— Lambs— »
wes— (90-175) Good and choice.. : Common, medium. (Sheep and lamb quotations basis.)
Chicago Grain Futures (By James E. Bennet & Co.) High Low 10 A. M. Prev.
Close Close 81 28% $1. 1.28% 81 $1. 28% 3 4 ian 100% 108 1.09%
09 0412 00
arbi ol 885 gt os aE
i
.50 A447 42%
&
essssscee 43%,
. Rye~— \ Lesvinn 1. 310%
- - »
J, es 823 aay Kan
01 103%
- ht 3 @ ]
1.5712
$100 10 $5,000 - 12 Months or More to Pay
MORRIS PLAN Delaware at Ohio - RI. 4466
)
Bonds of the United States Government, Its Territories and Insular Possessions
Federal and Joint Stock Land Bank Bonds Indiana Municipal snd Corporate Securities Real Estate Bonds and Preferred Stocks General Market Securities
Bond and Share Corp.
129, EAST MARKET STREET
rv
1.09%
New York Bonds
(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) 20
(Copyright, 1937, by Standard Sail]
(By PF. S. Moseley & Co.) U. S. GOVERNMENT BONDS Treasurys
Close es 3 13
“esavscscses
1944-54 .
“ssccessesee
Federal Farm Mortgage Corp. 105.10
Chicago Stocks
(By Atkins, Hamill & Gates) 10 A.
Advance Alum Asbestos Manufacturing Associate Investors Bastian Blessin Central Tilinots: Pub Service... Chicago Rivet and Machine.. Chicago Yellow Cab a Cities Service Ys Common oath Edison .. 1 Cord Corp Consolidated Biscuit Cunningham Drug .... Electrical ‘Househg 1d’ General Househo do .
Katz Dru Libiy MNeil & Libby Printing
Packing .. w Electric... Corp pfd . Engineers .
Dredge pid .... -Cummins .......
New York Curb
kins, ill & Sates) (By Atkins, Ham Prev.
Aldminum Co of America av American Cynamid “B” Amer Gas and Electric ...... 48 American General . Arkansas Nasural Gas “A... Carrier Cor Chicago Flexible Shaft bia Oil
Bag ad Electric Bond and Ford Motors, Canada General Tire Greenfield ob and Die..... Gulf Oil, Pen Humble Oil and Refining Co.. Hygrade Food Lion Oil National Rubber
Pan American Airways. Root Petroleum Rustless Iron od Steel .. Segal Lock Standard Oil of Ohio ay
Investment Frdits (By Thomas D. Sheerin & Co.) —Jan. 26, 1937—
Administered Fund 2n Affiliated Fund, Inc Amer Business Shares Broad Street Inw:sting *Bullock Fund, Ltd
Corp **AA” or * ‘Accum’ Corp ‘‘AA” or ‘‘Acc” Corp Tr Shares (orig)........ Diversified Tr Shares ‘B”. Diversified Tr Shares “C"’. Diversified Tr Shares ‘* *Dividend Shares, Inc Fundamental General Investors Trust . Incordorated Investors Market St Alestment Corp.. Maryland Fu Mastacndsetts Investors Mutual Investment Fund., Nation-Wide Votin No Amer Tr Shs 1
t er Sh, Inc (new) 15.91 ect Sue Sh (orig) .. ected Gumiiative Snares . elected ncome Share 0 State St Investment Gorn; .110.00 Supervised Shares. Inc (Del.) 14.90 Trustee Am Bk “B” Tr Standard Oilshares “‘A”.. Tr Standard Oilshares “B’.. *Ex-dividend.
Other Livestock
HICA ogs — Receipts, 280 000, TR 500° rer athot generally 5@10c lower than Monday’s average; "pigs and Underwes ght oy Sore. ES
instances; sto. 15@10. 25: few #004
$10. choice, 180- 300 1bs., Sogs: $9.35@9. Cattie—Receipts, 10,000; calves, 2000; fed steers weak to c lower; largely steer
7.16
offerings, s12a13.6 around $14.5 "buying interests bearing Hy Re and feeders scarce but weak: beef cows weak: cutter grades and bulls steady: Neigh ty shipper\vealers Steady at $11.50@12; 115-140 lb. vealers, at $11 down to $9.50 intluding
200 directs. Siow “nder-
105.90 103.29
Prev. Close. mY 109 34% 143%
332 47 cieiiiicnninnane 103.50 DOMESTIC
Today’s Bond Leaders— Close, Balt & Ohio 4%s ’60 ..cecce.. 76 N Y Central 6s 44 ..........107% Chi In & St P 455 "75 cecseses 33 Rep Steel 448 50 ...ccev000..142 Utilities P & L 5S *59 ceceese.. 64% ‘44 “.1100% Alleg Corp #5
2 ’4 a9 svesvesheren Alle Corp. 5s '5 Tn Pow 2 & Tel
Us
Balt & Ohio 6s . . Balt & Ohio 4s '6 ces Bu h & itt as is...
e 5s Grt Northern ‘G’ 4s ’46. Grt Northern ‘H' 4s '46 . Grt Northern 4%s ’77
FER SESE
ad oJ WO bt a od bt bt iB OVD
Cent Ji 28 11. Cent 5s [nterbo: 0 Hy
ernt| Tel &
Ss 2047 Nor States Pow 5s 41 w Orleans Term 32 '55 otis Steel 353 Penn
Penn RY $s 81 . Penn Ry 3%s '70 Portland Gen mn, 3s '60 Peis Publix 6 Pen & L 4 oe Postal Tel & EAE 5s5.’53 Rem Rand WW 4s 56 . shell Union Oil 32s ’51 . Socony Vac 3'%s ’50 Sou Pac 4%s ’68 ...
United Drug 5s '53 .. U 8 Subher 5s '47
Western Union 5s Youngsotwn S & od » ’61 Youngstown 8 & T 3%s ’51 .
FOREIGN
.104% 137
LOCAL CASH: MAR KET
City grain elevators are -paying (doz.
$1.26 for No. 1 red wheat. Other rades on their merits. Cash corn now No. 3 yellow, 99c. Oats, 44c. Hay—No. 1 timothy, $13.50@14: No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; second out ting, [email protected].
\
P. Collett and William N.
openin tone weak to lower; few initial bi - ward from $10.60 on a lambs now held $10.75 and above; clipped lambs and yearlings scarce: sheep about steady: scattered native ewes, $5@6; westerns as yet unsold. ETTE, Jan. 26.—Hogs—Market, 5 i : 200. x320 1bs.,
1bs. @8.75: roughs, Caives, $11.50 down. Lambs, 310 down.
FT. WAYNE, Ind.., Jan, 26.—Hogs—Market to oe lower: 200-225 lbs.. $10. 25: 2250.15: 180-200 lbs., $10.15; 250-275 oot v 20 05: ,215;300 1bs., 50-160 Joss bs.. $9; ; Ios . $12.
“When | learned that there hasn't been a single passenger fatality on an Indianapolis trolley or bus in over ten years —I| decided then and there that I'd’ play safe by using Indianapolis Railways transportation service.”
Indianapolis Railways
Certificates of Interest, in
Certificates.
In accordance with the
heretofore tached to said Certificates
anapolis for payment.
Indenture of Trust and of
posited.
January 26, 1937. : OTTO J.
1.1 $2495.96;
NOTICE
PAYMENT OF COUPON NO. 5
Certificates of Interest Issued by Liquidating Trustees Under Plan of Reorganization of
THE FLETCHER AMERICAN NATIONAL BANK OF INDIANAPOLIS
Notice is hereby given that Otto J. Feucht, John
ing rusiess for The Fletcher American National nk of Indianapolis under Indenture of Trust dated August 23rd, 1933, have declared a distribution by way of liquidating dividends upon the outstanding
the Liquidating Trustees designated under the Plan of Reorganization of The Fletcher American National Bank of Indianapolis, in an amount sufficient to pay and discharge Coupon No. 5 attached to said
ture of Trust and of the issued thereunder, Liquidating Trustees . have deposited in American National Bank at Indianapolis, Indiana, an amount sufficient to pay and discharge Coupon No. 5 at-
Coupon No. 5, which should be detached from said Certificates of Beneficial Interest, may be presented forthwith to the American National Bank at Indi-
Notice is hereby further given that a deposit in an amount sufficient to pay said Coupon No. 5 attached to said Certificates of Interest having been made with American National Bank at Indianapolis, depository, in accordance with the provisions of said
est, the undersigned Liquidating Trustees, or their successors, have no further liability for or on account of payment of “said Coupon No. 5 holders thereof shall look solely to such dorsi and -. not to the undersigned Liquidating Trustees or to their successors in respect of the amount so de-
JOHN P. COLLETT, WILLIAM N. FLEMING, Jr.
Liquidating Trustees for the Fletcher American National Bank of Indianapolis, under Indenture of Trust dated August 23, 1933.
CONCERNS HERE. ON TAX REFUND LIST FOR 1936
Returns in Excess of $500 Submitted Annually to Committee.
Times Special WASHINGTON, Jan. 26.—Several Indianapolis concerns and individuals are on the list of those re« ceiving tax refunds in excess of $500 for the fiscal year 1936. The list was made public today by Chairman Cochran -(D. Mo.) of the Committee on Expenditures in the Executive Departments. It is sube mitted to the committee annually by the Treasury and is made publie by law. Those from Indianapolis on the list _were: The Central Life Insurance Co, $848.55; Mrs. Edith W. Clowes, Golden Hill, $3567.64; Richard Fair= banks, 5850 Sunset Ave. $621. 81s
Robert Fairbanks Estate, $1538. 68; Illinois and Market . Realty Co, Indianapolis News Pube lishing Co., $805.48; Eli Lilly Co., $561.62; Mrs. Ella Van Camp Mar= tindale, 1354 N. Delaware St. $708.93; Rex Moonshower, 625 E. 58th St., $534.87; Real Silk Hosiery Mills, Inc., $20,079.40 and $19,195.15. Republic Creosoting Co., $629.99: Herbert P. Sheets, 1 W. 28th St. $539.39; Ralph Bamberger, 425 N. Oakland Ave., $933.74; William H. Block Co., $1386. 22; J. H. Trimble, 615 Circle Tower, $11,648.30 and A. A. Zinn, State Life Insurance Co. $545.07; Midland Electric Coal Corp. 1317 Fletcher Trust Bldg, $3474.31,
TRUSTEES TO MAKE DIVIDEND PAYMENT
Another 5 per cent liquidating dividend payment to depositors and creditors of the Fletcher Amer« ican National Bank has been an-
nounced today by the liquidating trustees of the bank. Payable beginning today, this is the fifth dividend of 5 per cent and will approximate $280,000, the truse tees said. Funds have been depos« ited in the American National Bank to meet the payment, they said.
Produce Markets
(The prices quoted are paid for stoc gathered in the country. while for Sick ’ eries in Indianapolis the prices are 1 cent higher. Eac LL case of eggs must weigh 5 lh gross.) Eggs—No. 1 SSirictly fresh, loss off, 170
Heavy breed hens. 5 lbs. and over. 5 Leghorn breed hens, heavy, 9c. Hea breed springers. 1. lbs. over. soft mented, C. ghorn breed springers, 8c. breed stags, 9c: Leghorn .breed stags. 6c: heavy breed cocks. ic. TN eee. full- feath. red and fat. 3 lbs. and up. Tc. fulle feathered and fat 2h Tirkeps. voung toms. 12c: young hens. 10 lbs. and over, l4¢: old toms. 8c: old Js: GI “ Se reamery, No c: No. 33@34c. Butterfat—No. 1. 33c: No. 2. 31c.
Fleming, Jr., as Liquidat-
trusteed assets, issued by
provisions of said IndenCertificates of Interest the . undersigned
of Interest. Accordingly,
said Certificates of Inter-
and the
FEUCHT,