Indianapolis Times, Indianapolis, Marion County, 1 February 1937 — Page 18
BE 000 hice. St
®
Trends
*
Abreast of The Times on Finance
* &
Senate Powers Are
MONDAY, FEBRUARY 1, 1937
Being Attacked, Flynn Says.
le BY JOHN T. FLYNN
New York Stock Exchange Prices
EW YORK, Feb. 1.—A strange little clause crept into the emergency deficiency bill for $789,000,000 passed by the House on Tuesday. It provides that no person employed and paid out of these funds may ve used in connection with a Congressional investigation. Here is the story. When a Congressional committee makes an investigation it usually calls upon other departments of the Governm e n t for aid. This is true of other
(By Thomson & McKinno)
10:00 Prev. High. Low. AN, Close. Amusements— Crosley Radio Loews Inc Paramount Radio Corp .
20th Cen Fox ... Warner Bros ....
Aviation—
23% 73% 28's
2134
258
Mr. Flynn
2 5 Pullman Inc .. West Air Br .. Westingh Elec
Financial— Adams Exp . Allegheny Corp Am Int gore.» Comm creat. Chesa 8 Com roar Trust Transamerica ...
Foods—
Armour Armour 6 pc pd. Borden Prod ....
KAY
. 52% 160%
Nat D
| Purity Baking ae
Miscellaneous—
Allis Chalmers. Am Can .. Am Mach & Fdy i : Brklyn Man Tr. J I Case
Chicago Stocks |
Dollar Volume Increases 26 Aviation Corp .. Curtiss Wright A 2 Sperry Corp i independent stores Retail sales of indepe Unitd Aircft New od 7” ume over November and were 26! Barber, C2 2 ic i repor oday. If the Justice 'mestic Commerce reported today 3% BEARER +. accountants in Col Carbon az < WS . : ' with $1,556,600 in December, 1935. Xo Freeport Tex ... 494 banking accountants or investiga- Math kell ii $e Indiana, when adjusted for the Pp : Toa Union Carbide 100 This is as it should be. If the ‘ume for December, 1936, as com- | DPruss— any other company in the United arke Davis . 44, . : i 5 ; Treasury, the ICC, the RFC are Without adjustment for the extra ment special situations whenever they | > | Represents 22 Businesses » situation. But now there are sents 22 kinds of business, nine of mittee is probing the strange, | cellaneous or in group totals. age in American industries. Sena- [showed an increase of 27 per cent of railroaq financiers and holding | working days or for seasonal inpromoters and bankers are in |There were two more working days question. An open effort to do so | Evansville reported the greatest two in the deficiency bill which | 7: per cent, other changes for the | | ( per cent increase reported for Terre git iv, tf gressional investigating committee. | cent over last December, while sales | Col Pal Peet offer its aid in other situations to Proc & Gam bureau reported. ing committee. What committees? tc be affected. Two, was the answer i (By Atkins, Hamill & Gates) 1 ¢ 40.
Per Cent for Month to | Boeing "airert Curtiss Wright . $1 ,962,300. Douglas Air .... iia. Nor Am Av Unitd Air Lines Unitd Aircft New in Indianapolis in December il Euildine creased 39 per cent in dollar vol-| Am Radiator .. 20% Holland Furnace 5 ; b hes of the | PF cent higher than December, Elev ranches oi Whe @ . ; “ Gypsum Governm e n t. | 1935, the Bureau of Foreign and Do Chtmicaton Departm e nt | The report showed total sales at; | Allied Chem h : 5, n ros : m Com Alcoho eeds railroad fo, g69 300 for the month compared | ; | Com Solvents 2 a law suit, the ICC is always glad | Du Pont 1134s to lend them. If the ICC needs November sales were $1,411,000. | Liquid Carb... 19 8 Sales of 496 independent stores in | Mancanie Chem. 5: tors, the banking department wou Natl Dis (new).. 28 not hesitate to supply them. Es OF Xi d wowed Tex Gulf Sulph.. 40% number of working days, showed an | §oiog Carbide a Carnegie Steel Corp. were under [increase of 23 per cent in dollar vol- | Am Home Prod. 5lls 4 it would call upon any other to pared with the same month for 1035, | Lehn & Fink... 30% with the same mo ehn & Fink ... 20° States Steel group for such aid as Jin a Bare” ie A it needed. After all, Congress, the |according . Un Drug (new). 18% all part of the Government. WHY |4,¢ jn December of this year there |am car & ray. should they not aid each other in 'was an increase of 28 per cent. Am Loco Fay can? " | This report, which covers the }.O much for that fairly obvious larger independent stores, repretwo committees of the Senate at |which, due to an insufficient numwork. Senator La Follette’s com- |ber of reports, are contained in missordid. un-American and even | When adjusted for the number of cruel methods of industrial espion- | working days, December, 1936, sales tor Wheeler's committee is study- |irom November, 1936. Without ading the weird financial operations | justment either for the number of companies. | fluences, December sales were 37 The industrialists, the railroad |per cent higher than in November. deadly fear of the revelations. How jn December than in November, the to stop them? That is the big |report said. would be impossible. Hence a flank |gain in total sales over December of attack. Hence a little sentence or [last year with an increase of about would prevent one agency of the | cities shown ranging down to the 18 | Government from helping a Con- Swift & Co | Haute. Sales in areas with a popu- | | United Fruit It might help any other Govern- |lation under 2500 increased 20 per| Household— ment agency. It might even : in cities with population of 2500 | Sohn Carpet” 3 Congress and Congress commit- |and over, increased 2¢ per cent, the | BO tees. But not to an investigat- | Simm ons Bed A member asked on the floor of Congress what committees would —the La Follette and the Wheeler committees.
{ Contl an Caterpillar K | Crown Cor Advance Alum | Curt is Pub Bastian Blessing : | Deere & Co hoff L . 1312 | Foster Wheeler. Bruce EL i
Publ "Servic Gillette Cities Service
| Glidden Commonwealth Edis rd Cor
~ = HE Wheeler commitice shown how one railroad got a $23,000,000 loan from the RFC under a false statement of its condition. Yet the RFC, which can lend hundreds of millions to railroads, cannot lend a few clerks or investigators to a Congressional committee seeking to get important facts for it. The WPA and the relief bodies spend millions on relief to men out of work. Lots of the idle men are men idle because of strikes. But the WPA cannot lend a few accountants or special experts to a Congressional committee to discover why these strikes last so long, although the La Follettee committee has shown that espionage has prolonged many strikes and even provoked them. Here is a flank on two Senate committees launched in the House. It is a slap at the Senate. 1t is an amazingly bold maneuver by the economic royalists who attacked the President to prevent a Senate committee carrying on efficiently its high functions, Will the Senate tamely submit to this bold and sly attempt to cripple | it? L
=
Be has | Bruce 0 Ingersoll Rand. .138 Inter Harv . Nat Cash Reg .. Owens Bot Rem Rand .. Underwood E Mining— | Alaska Jun Am Metals | Am Smeit Anaconda Cal & Hecla .... Cerro De Pasco. Dome Mines ... Gt Nor Ore .... Howe Sound ... Ins Copper Int Nickel Kennecott Cop .. McIntyre Mine . Fark Utah “es Phelps Dodge St Joe Lead .... Vanadium
Motosr—
Auburn ...uvsaes 4 Chrysler 125 Gen Motors
| uningham Drug General Household | Godchaux Sugar A’ : Huyler | Hygrade
on il ou | National Rubber Niagara Hudson Power | Pan American Airways Root Petroleum . Rustless don and Steel .. | Segal tandar ¢ ou “of Ohio
New York Curb
(By Atkins, Hamill & Gates) Sauk 10 Prev. close 1643 29%,
332
A. | Aluminum Co of America .... | American Airline .. 30 | American Cynamid ‘B’ Am Gas and Electric ........ 447 fri BRaktas Natural Gas ‘A’ .... 9%
0 lidated Copper per Bessmer Stores Bag e Picher Lead Electric Bond and Share Fora Motors Canada ‘A’ General Tire . Greent fi ield Tap and Die .
ed ....u.un Studebaker White Mtrs .... Yellow Truck ..
Motor Access
umble ‘oil and Refining Co.. ES DE
Elec Stor Bat .. Grevhound New. Motor Wheel Stew Warner ... Timken Roll . Oils— Amerada Atl Rig Barnsdall Consol Oil Cont of Del ... Houston (new). Mid Cont Pet
(Copyright, 1937, NEA Service, Inc.) West Corp pfd tt oSParks
Fruits and Vegetables
(Quotations below sub¥ect to change. > wholesale prices being offered to by local commission deal ers.) 5 Tn cars, Oregon D'Anjou. ext | wr ood: aL Oil-O-Matic "110s, $4. Cal ifornia Avocados, 205-245. : gal box $2 75 Bananas, select ed, Ib. 434¢. Ap- | t ndian a Delicious, 215 inches up. | na Gol den Delicious, 2'z } 1 Staymans, 2% inches | ora 21: inches up. | ; Wealthy, 21: : . Winesaps, 2% | No. 1 New York Imperials, | $2 Lemons, Sun- | Limes, Mexican, car-| Grapes- -California EmGrapefruit,
are
34% 167% 441, 1612 307%
Hoo Con
% | 8 30°
Investment Trusts
(By Thomas D. Sheerin & Co.)
Local Securities
3 | (Bv Indianapolis Bona and Share Corp.)
The following quotations do not repre5 | sent actual bid® or offerings. but merely | indicate the approximate market level | based on buving and selling inquiries or recent transactions.
BONDS
Ind Assoc Tel 4':s Citz Ind Tel (TH) 28 . H I & Tel Ft W Stas '55. H & Tel Ft W 6s 43 . LA Railwav Inc 5s ‘67. Indpls Water Co 34a 68 .“ Interstate Tel & Tel 5'%s '53.. 99 Kokomo Water Works 5s '58.. Morris 5 & 10 Stores 5s 150..100
Administered Fund 2nd Affiliated Fund, nc (new)... Ameiican Business Shares... Broad Street Inves sting “Bullock Fund, Ltd Century Shares Trust .. “ih Corp ‘AA’ or ‘Accum’ ca. | Corp ‘AA’ or ‘Acc’ (unmod) . { Corp Trust Shares (orig) ... Diversified Trustee Shs 'B’ Diversified Trustee Shs o qe | Di versified Trustee Shs ‘D’ ‘Dividend Shares, Inc | Fundam ental | General Investors Trust. ; | peor ‘porated Investors .. 25 arket Street Investmt Corp
| Maryiang Fund Mato Investors
ei nvestment Nation-Wide Voting gloss North Amer Tr Shs 1955 North Amer Tr Shs 1956 . .. North Amer Tr Shs (orig) . selected A Income Shs (new) elected Amer Shs, Ine Dnlew) Selected Amer Shs (orig) .. Selected Cumulative Shares. Selected Income Shares State Street Investmt Corp... Supervised Shs, Inc (Del) rustee Am Bk Trustee Sand Oilshs ‘A’ Stee Stand Oilshs ‘B’ *Ex-Dividend. 8
; Strawbes ries, Florida. a rri Ti Bid. Asked. $1.25. Beans, i Beets.
3 doz
tichokes. doz., gless, hamper. $3.25, bu., $1: new Texas. Broccoli, California, case, nn Brussel Sprouts. per Cabbage, New York. : new Texas, 12 crate. $1.25 Carrots, California, bulk, bu. . Cauliflower, 11s, crate. $2.75. Cel- . Mammoth, doz.. 75¢. Celery Cabbage, Michigan, doz., $1. Cucumbers, hothouse, doz., $1.50. Chives, doz. pots, 90c. | N Ege Plant. Florida, doz.. $1.50. ale, Virginia, bu., 5c. Lettuce, Iceberg, California best, 80s, $4.50: 35s, $5. leaf, hothouse, 15-1b. basket. $1.50. Endive, California. doz., $1.15, Peppers, Mangoes, crate, $3.50: doz., 40c. Mint, doz., 60c. Mushrooms, homegrown, Ib., 30c. Mustard, Texas, bu.. $1.50, Onions, Indiana vellow, 50-1b. bag, 75¢: Western Spanish, $1.35: Northern white, $1.25. Oyster Plant, doz. 45c. Parsley. homegrown, doz., 35¢; Southern, >» bunch. 50c. Parsnips, homegrown. , 85¢. Potatoes. Maine Green Moun-100-1b. bag. $3.25; Idaho Russets. Michigan Rurals, $2.75; Colorado . Rutabagas, Canadian, Sweet Potatoes, Indiana bu Ray Louisiana Puerto Ricans, adishes, buttone, hothouse, doz. 60¢: white, 40c. Rhubarb, hothouse. No. 1. 5-1h. carton, 50¢. Sage. doz. 45¢. Spinach, Texas. bu., $1 Shallots. doz., 30c. Squash, Hubbard, bu.. | 35 $1. Turnips. bu. $1: new Texas, bu., $1.50. Tomatoes, repacked, 10-1b. box, $1.40; repacked, best, 10-1b. basket, $1.50.
(By United Press) CHICAGO, Feb. 1.—Apples—Michigan McIntosh, [email protected]. Sweet Potatoes— Louisiana Puerto Ricans, $2.15. Carrots— Tilinois, bu., 65@75¢ Spinach—Texas, bu, 65@ 85¢. Tomatoss—Florida, Net Sa. = uliffower—California, crates 7 Peas, Mewican. hampers, [email protected]. Celery— RET CR eATRCE YY No 2 la INDIANAPOLIS STATEMENT Michigan, square crates, 75¢c@S$1. Onions | 33@34c. Butterfat—No. No. 1.’ 33¢c: No. Fi 1c, Clearings ....... . $3.788.000 (50-1b. sacks)—Illinois and Indiana yel- Debits ... 7.299.000 lows, 35@60c; Michigan yellows, 5712@60c (By United 1 Press) TREASURY STATEMENT
CHICAGO, Feb. 1.—Bggs—Market, steady: - » : Chicago Grain Futures receipts, 14, 174 cases; fresh graded firsts, (By United Press) 2C; extra firsts, 2%¢; dirties, 183%c: WASHINGTON, Feb. 1.—Gove (By James E. Bennett & Co.) Te We: Shee ks eddc. "is ceipts and expenses for the ent re. EE gear Shang an. 29, as compared with a This Year, Last Year.
tubs; extra firsts (90-91'% score) $ 4.170, 392. 39. 58 $4,225, $32 534.10 1
Oy Drs AIOE. « « . TABOOS: «+ «vo.
. wn 3
Belt Railroad & St Yrds com.. Va Belt Railroad & & 5 Yds pra. . 9a
Produce Markets
(The prices quoted a gatheyd r in i the country. while ndianapolis the orices are phen, an lu Su , Te of exes must i Cli y “strictly fresh, loss off. 17¢
Hea breed hens, § Ibs. a Leghorn breed hens, he ved has breed springers, 10s Ibs, over. soft meated 13¢. Leghorn b breed springers. 8c, Heavy breed stags orn breed stags, 6c heavy breed cocks ° pucks, full-feath-up, 7¢. Geese
red and fat, 8 lbs. t CE irkeys, young
for ock
for deny: Indpbls Water Co
N. Ind Pub Serv R10 K N Ind Pub Serv pie 5.8 Ni Ind Pub Serv pid 6s N Ind Pub Serv pea Pub Serv So ot Shas rv 0 eb Sy Co of nd od’ & rre Haute Elec Union Title Free C0 es
Money and Exchange
at, full. Jeathered and f : s C: young hens. 10 Ibs. and over, l4¢c: old toms, 8c: ol 8._9¢: No, But 386 300s No 8c.
Terese aay
Sete ssR LR Rea "ahaee
Expenses,
5: $ 34 , 32¢; specials, 323% 5;33%e¢; extra (92 score), Refeipts : 1.94 31
RS 2 . 32'4¢; firsts, 31@31'%c¢: standards, 32! 9 : | Poultry—Market, Steady: receipts, To | trucks; geese, l4c; ducks, 10@17%e: s tine | chickens, 18@20c; broilers, 216i 22¢: Ren | 13@17%¢; Leghorn hens, 9@12¢; old roos- | ters, 124@13¢c; turkeys, 13@ 18c. | Cheese— Twins. 17@17%¢; Daisies, 1" @ 734c: Longhorns, 17'2@1934 Potatoes (old Stook Supplies, light: loa trading light on account of cold * | weather: market, steady; Colorado Red McClures, $3.10473.20; Idaho Russet Burbanks, $3.254 3.35; Wisconsin Round Whites, [email protected]. New stock: Supplies moderate; market, steady: track sales, less than Chios: Texas, bushel crates, Bliss Triumphs, $1.80 per 50-1b. sack: street sales Florida, Pushel crates, Bliss TriAP vals. 190 oh bi tid Shipments, rrivals n tra shipments, 678 (Saturday); oh ie
1065 ,863. 5, 1.06. 93.65 30,504. o . 11,352.990.635.17 10,177 ‘55: 33s 34
Customs. . 256,793,650.20 221.708.2138 8 |
For Gentlemen —
1.10% Seek the Finest
1.00 012 89%
May BR 1.56 vy Jolt “sSellers,
| higher than in 1934. | from November to December in 1936 | was almost 29 per cent as compared
10 Prev. Low A.M. close! Qhio Oil ) t Cor Ph ‘es Plymouth Ol ...
e Oil ‘es Seaboard Olt... Belle Oil
Un Oil of Cal Rails—
Gt North prd “es Ill Centra ves @ Lehigh Valley ... Lou & Nash MK & pf Mo
ou RR .. Union Pac sh
Waba ih West Maryland.
Retail Stores—
Allied Stores ... Assd Dry Goods. First Nat Stores. Gimbel Bros Gd Un Tea .....
Kresge S 3 Kroger oe Macy R H .. McCrory st 2 McLellan St .... 17 Field. tb . 62
Marshall De:
Safeway St .... 437
High. Sears Roebuck .
Rubbers—
Firestone Goodrich
U S Rubber 3 US Rubber ‘pid 8 Site Acme Steel 663 An Roll “Mills .e 3 Beth Steel Byers A M Cruc Steel ...... J Inland Steel . Keystone Steel. . Ludlum Steel .. McKeesport Tin. 8 Natl Steel Otis Steel 1834 Rep Iron & Steel 343, Sharon Steel 35 U S Pipe & Fdy. 58% U S Steel U S Steel ‘pid "13034 Warren Pipe-Fdy 41 Youngstown S-T 83% Textiles— Amer Woolen .. 13% Belding Hem .. 133; Celanese Corp . 3034 Collins Aikman... 61'2 Indus Rayon 3814 Real Silk 1 Tobaccos—
Lig & M “B Lorillard Chae Revn Tob “"B"” .. 5 Utilities— Am & For Pwr Am Pwr & Lit .
Peoples Gas Pub andl
Western Union.. 79%
duplicate of the return except that the affidavits on the duplicate form need not be filled in. The copy on the duplicate form must also include any schedules and statements attached to the original return except (1) schedule C-1 (information to be furnished by corporations as to compensation of officers and employees in excess of $15,000), (2) in the case of a fiduciary return the copy of the will or trust instrument, (3) in the case of a return made by an agent the power of attorney on form 935 or form 936, and (4) in the case of an insurance company the copy of the annual statement made to the State insurance department,
= = =
NY person who fails to file such copy at the time required shall be assessed $5 in the case of an individual or $10 in the care of a fiduciary, partnership, or corporation return, and the collector with whom the return is filed shall prepare such copy. In accordance with the statute above mentioned, within a reasonabie time after the returns are filed, the copies thereof will be made available for inspection in the office of the col-
Your Federal Income Tax
(Seventh of a Series)
DUPLICATE RETURNS
O carry out the provisions of Section 55 (b) of the Revenue Act of 1986, every person (except nonresident alien individuals, nonresident alien fiduciaries, nonresident foreign partnerships, and nonresident for-
eign corporations) required to file an income return for a
taxable year or period beginning after Dec. 31, 1935, must file with the return a copy thereof on the duplicate form (green paper), which will be provided for that purpose, or a photostatic or photographic copy of the original return. Such ccpy must be a complete ®——
lector of internal revenue in
which the returns are filed, by any official, body, or commission lawfully charged with the administration of any State tax law, if the inspection is for the purpose of such administration or for the purpose of obtaining information to be furnished to local taxing authorities. The law provides that the inspection shall be permitted only upon written request of the Governor of such state, designating the representative of such official, body, or commission to make the inspection on behalf of such official, body, or commission. The statute does not authorize inspection of the duplicate returns by the public. Inspection of returns is governed by subdivision (a) of section 55, which provides, in effect, that income returns made under the Revenue Act of 1936 shall be open to public inspection only to the extent expressly provided by law or as authorized in regulations approved by the President, and this provision is similar to the provisions of preceding revenue acts. Under existing law and the regulations approved by the President, income returns are not open to inspection by the general public.
NEW CAR FINANCING IN 1936 TOPS 1929
Times Special WASHINGTON, Feb. 1—The volume of retail financing of new passenger automobiles for the year 1936 amounted to nearly $1,200,000,000, according to preliminary estimates of the Department of Com-
merce. This volume is about 2 per cent higher than for 1929, the previous high year for this business, the Department said. The 1936 volume was 53 per cent above that for 1935 and 92 per cent The increase
| with a gain of about 5 per cent {rom November to December in 1935, the report said.
New Bond Issues
(Ry W. L. Lyons & Co.) Allied Stores 4'28 'S51 ..vviinn Argentine Rep. 428 '71 .. Armour 4s '57
Assd Tel ds, i, BTN B & O 4'3s '39 Calit Oro Prw 4s 66 . Cent Maine Pwr 4s "60 Cent Maine fer og Cinti G & E 3 66 Cleve Tractor 3: YS ... Cudahy Pkg 3s ., Cudahy Pkg 4s ’ Ha Fower Ky 68 - . a Power 5s’ . Great Nor 33s '67 . y 0 Houston Lt. & Power 3's '66 103 ndpls Water Satis 66 owa Sou util 38 Q
100% 100% 90% 1063 10( %
tpt OOOO OOVO DL
333522
Louisville
Metro Ed 4s '65 . Minn Gas & Lite 4s 50 arra_Blec 3's : New England Pow hr A fl N Y State let Gas Ohio Edison 3
OOOO
Ns 12
eo
l2 . htin 4158 "45 ...iinnn Dao Tel 3 Ae "66 .“ pac Gas Lie Coke 4s .t ‘ass n Tel 4s 65
- v 23 833: EESaEscs
Sou Krell Ss G& ES
Wise Pub Sve a or ..
MIS LETTER SERVICE =:
303-307 Merchants Bank Bldg. LI-6122
NLT
RUGS LINOLEUMS fue Border, 290 vd.—0x12 Russ. $8.93
TYPEWRITTEN LETTERS AUTOMATICALLY TYPED ADDRESSING & MAILING MULTIGRAPHING STENCILS CUT MIMEOGRAPHING RULED FORMS
207 W WASH.ST
Other Livestock
(By United Press) CHICA! Feb. 1.—Hogs—Receipts 14.000, including 4500 directs; market gen-' erally around 25 cents higher; spots rr cents higher than Friday's avera Pp. $10.25; bulk good and choice, 150-535 1 1bs., [email protected]; medium slaughter Ries Sareely $7.25@8; bulk good sows, $9.2%@ Cattle—Receipts, 9300; cae 1500; meager supply strictly choice and good steers and yearlings strong to 25 cents higher on shipper accounts: other grades predominating; largely strong; receipts small but sizable supply fat cattle heid from late last week: largely steer run; well Bnished light yearlings scarce: good and choice yearling heifers 25 cents higher, mostly $9@10; cows steady to strong: buyers being slow; resisting higher asking prices except on jong fed cattle: bulls 10 @15¢ higher; vealers steady: cutter grade cows [email protected]: weighty sausage bulls up to $6.50; vealers to $11. Sheep—Receipts, 12.000, directs; fat lambs opening very slow; indications around steady: lower bige generally refused on earlv round: talking about steady on slaughter sheep: good to choice native and fed Western lambs bid $10: now asking $10.25%10.35 and above: scattered native ewes, [email protected]; ewes at yet unsold.
GO,
(By United Press)
FORT WAYNE, Ind. eb. Steadv to 20 cents higher: $10.30: 225-250 1bs., $10.20: £10.20%s 250-275 bs., $10.05;
$ 5. $8.65 ighs $9; stags, $7.50. Calves, $11.50. ou s, $10. LOCAL CASH MARKET City grain elevators are paying $1.26 for No. 1 red wheat. Other grades on their merits. Cash corn now No. 3 yellow, 98¢c. Oats, 44c. Hay—No. 1 timothy, $13.50@14; No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; second cutting, [email protected].
HOG PRICES GAIN 20 T0 25 CENTS AT STOCKYARDS
Light Receipts, Fresh Meat Upturn Aid All Classes In Local Trade.
Light receipts, estimated at 3000, and an upturn in the fresh pork
{ market in the East boosted hog
prices today at the Indianapolis Union Stockyards. Prices were unevenly, 20 to 35 for strictly choice 200 to 210-pound-ers. At the close 160 to 275-pound weights sold for $10.35 to $10.60; 275 to 300 pounders brought $10.25 to
all other heifers and | shippers and order |
including 5000 |
Western |
$10.35; 300 to 400 pounds, $10 to $10.25; weights of 140 to 160 pounds,
I 86.75 to $10.25, and the 100 to 140-
pound class were $8.75 to $9.50. | Packing sows ranged from $9.25 to | $5.65, top $9.75.
Cattle Supply Meager
The cattle market was active on a very meager supply and all killing classes were unevenly strong to 25 cents higher. Cows were generally strong to 15 cents up. A few head of steers sold for $9.75 with other sales ranging from $6.75 to $9.65. Most heifers sold for $6.50 to $7.25 with odd head upward to $8, common and medium beef cows brought $4.75 to $5.75, the cutter grades $3.75 to $4.50. Sausage bulls ranged from $5.75 to $6.25, top $6.50. Vealers were 50 cents lower and the good and choice kinds brought $11 to $11.50. Receipts totaled 800 cattle and 400 calves. Lambs were mostly 25 cents lower. Good and choice native and fed Western lambs ranged from $10 to $10.25. Slaughter sheep were mostly 50 cents lower with the bulk of the slaughter ewes at $3.50 to $4.50, top $. Receipts were 2500.
HOGS
Bulk $ 9.806 10.40 [email protected] [email protected] 29. [email protected] 30. [email protected] Feb. 1 10.304 10.60 Light Lights— (140-160) Good and [email protected] Medium [email protected] Lightweights— (160-180) Good and choice. , . Medium . (180-200) Good and Medium | Medium Weights— | (200-220) Good and (220-250) Good and Heavyweights— (250-290) Good and choice... (290-350) Good and choice... Packing Sows— (275-350) Good (250-425) Good (425-500) Good ....vus 1275-500) Medium | Slaughter Pig 140) Good . and choice.. Medium CATTLE —Receipts, 800— Choice Good . Medium .... Common (900-1100) i
Jan, Receipts 26. 7000
27. 28.
[email protected] 0.40@ 10.25 . [email protected] 9.90@ 10.30
10.307 10.60 10.40@ 10.55
choice. . choice...
[email protected] 10.006210.35
9.50@ 9.75 9.35@ 9.50 9.25@ 9.40 8.75@ 9.50
8.75@ 9.75 7.75@ 9.50
(550-900)
5 a Stor Tt DSL
DS SDE 0D rt 03 ~1ED = 03
haben
asm IOVS O
Common Choice Good .. Medium Choice
(1100-1300)
sessess 1h 0130
(1300-1500) 9.75@11.
(500-750)
Common, medium. Good and choice... Good and choice... Common, medium.
(750-800) (750-900)
5.75@ 6.75 Common and medium 4.50@ 6.75 cutter and cutter.....
good 5.00@ 6.50
—Receipts, 400-—
Good and choice Medium . er Cull and medium. oe Calves 250-500) Good and choice. .$ 6.50@ 8.50 y mmon, medium. 5.00@ 6.50 Terns and tSocker Cattle (500-800) Good and choice..$ 6.25@ 8.00 (800-1050) Good and choice.. 6.25@ 3.90 Common, medium. 525@ 6 Heifers— Good and choice Common and medium SHEEP AND LAMBS —Receipts, 2500—
.$10.00@ 10. «9.75610. 8.256 9. 7.00@ 8.5
[email protected] 9.007 10.50 5.00@ 9.00
[email protected] 4.50@ 5.50
25 i. 99 Medium’ a Common
Be 4.00@ 5.00 175) Good and choice... 4.00@ 35. 50-15 Common, medium. 3.00@ 4.00 (Sheep and lamb quotations on clipped
Unlisted Stocks
y Biyth & Co.) hin Bid ! Bankers Trust Chase .. Central Hanover Chemical Continental Illinois Guaranty Irving Manufacturers National City National Shaw mut First National Boston FIRE INSURANCE
Aetna Fire Insurance American Ins of Newark Baltimore American Franklin Fire Federal Insurance .. Great American Insurance National Fire Hartford ‘ Hanover Fire National Liberty North River Phoenix o
FOR BULOVA WATCHES —
ils
ry EES LAS TS: 3; EES LAS
INV
OLD STATE HOUSE BOSTON
MASSACHUSETTS
Prospectus and Latest Quarterly Report Embodying Porlfolio of Stocks Available on Request
Indianapolis Bond and Share Corp.
129 EAST MARKET STREET
ESTORS TRUST
Organized 1924
1937 fiscal year—from July
1935 period.
Among Leaders
C. D. Vawter of the local Acacia Mutual Life Insurance Co. agency again has qualified as one of the leading 10 producers in volume and in number of sales for the company, according to William Montgomery, president.
STOCK MARKET WEEK IN REVIEW
BY ELMER C. WALZER United Press Financial Editor NEW YORK, Feb. 1.—Stocks moved irregularly lower last week as the Midwestern floods and unfavorable labor developments offset glowing business reports, particularly from the steel industry. Steel and automobile shares rallied smartly from an early setback, but wide losses were registered in most other departments, including rails, chemicals, utilities, can stocks, aviation shares, rubbers and coppers. United States Steel and Bethlehem both reported earnings for 1936 at the best levels since 1930. Bethlehem reported its current operations at 82 per cent of capacity were insufficient to reduce backlogs of orders that were the largest since World War days. U. S. Steel was at 75 per cent. Both the U. S. Steel and Bethlehem common stocks made new highs since 1931 and closed the week substantially higher. Flood conditions reduced steel operations a few poigts and if it had not been for that the industry would have been at the best operating rate since 1929. . Flood Reduces Trade
Action of the motor shares was believed to reflect belief that the strike possibilities had been discounted. Some commantators predicted a sell-off in the group when the strike is finally disposed of. However, the behavior of the market on Friday, when a mere hint of a “break’ in the strike sent the shorts scurrying to cover in General Motors and Chrysler stock, gives a clue to a possible market boom for a time when the actual settlement is announced. Flood reduced retail and wholesale trade and there was some selling in the mercantile shares. The market for copper metal abroad became more orderly and copper stocks slipped off. Oils were sustained by higher prices for crude announced by leading companies. Several building and cement stocks made new highs. Cements were bought on outlook for large orders from the flood areas when rehabilitation begins. The franc weakened on rumors the French were ready to lower the price of the unit to the lower level provided in the recently enacted monetary law. Finance Minister Auriol issued a statement that there would be no further devaluation, but that was insufficient to stem the franc decline and the Bank of France found it necessary to raise the discount rate to 4 per cent from 2 per cent.
OVERSEAS SALES OF G. M. SHOW BOOST
Times Special NEW YORK, Feb. 1.—Overseas sales of General Motors cars and trucks during December totaled 30,045 units, the company announced today. This was an increase of 15.6 per cent over the same month in 1935. For the full year the sales totaled 324,758 units, the report said, an
increase of 14.2 per cent over the preceding year. The figures include sales of the corporation's foreign factories.
Income Tax Collections Up Income tax collections in the first six months of the
1 to Dec. 31, 1936—aggre-
gated $695,041,696, an increase of $138,714,291 over the
STEEL INDUSTRY PROGRAM GALLS FOR EXPANSION
New Equipment Budget for 1937 at $290,000,000, Institute Says.
Times Special NEW YORK, Feb. 1.—More than $290,000,000 will be spent by the steel industry during 1937 for new construction and equipment, accord= ing to estimates received by the American Iron & Steel Institute from 85 companies constituting more than 90 per cent of the total cax pacity of the industry. Unprecedented demands for steel during the year by industries making products bought by ultimate consumers created the need for a major part of the new equipment to be installed by the steel industry, the institute declared, The amount budgeted for 1937 represents an increase of about 43 per cent over the total of $200,000.000 estimated by the industry a year ago as the sum to be spent for new equipment during 1936, it was pointe ed out.
All Branches Affected
Tabulation of the actual expenditures by the industry during 1936 for capital improvements shows, the institute said, that the estimates made a year ago proved about $16,« 000,000 too low. At the time the estimates for 1936 were made the industry was operating at only about 50 per cent of its capacity. whereas m the last six months of the year operations averaged about 75 per cent, it said. Nearly every branch of manufacturing operations in the industry will be affected by the large-scale improvement program, according to the report. “At least three new blast furnaces are scheduled to be completed during 1937. Two of these will replace cider furnaces, but the other one represents the first entirely new addition to the pig iron producing facilities of the country since early in 1930. Still other blast furnace plants will be made more efficient with the installation of new auxiliary equipment,” the institute said.
INDIANAPOLIS LIFE GAINS FIVE MILLION
A gain of more than $5,000,000 in insurance put in force during the past year was announced today by Indianapolis Life Insurance Co. officers. According to the report the total insurance in force is now $100,700,000, paid basis. The 5 per cent gain during 1936 was more than the average for the business the report said. Assets of the company in-
creased more than $1,400,000 during the year.
New Business Books Available at Library
The following new business books now are available at the business branch of the Indianapolis Public Library:
LIFE AGENT'S SUALIFICATION HANDBOOK (INDIANA), by Robinson.. life insurance Ces: must understand the basic laws soverning life insurance and his responsibility to the people, his com pany and the insurance department of his state.
LABOR UNIONS AND THE PUB. LIC, by Walter Chambers. A survey of the uses and abuses of labor unions and strikes in this country told in an informal, readable style.
INFLATION’'S TIMING AND WARNING SYMPTOMS OF ITS EXD PLOSIVE STAGE, by D. G. Ferguson and A. H. Lester. Based on research of every major inflation in the world jor hich adequate data could be ound.
GROUP SELLING BY 1,000,000 RETAILERS, by Gordon Cook C baley. A survey of the voluntaries and co-operatives made for the American Institute of Food Distriution,
INTRODUCTION TO PRINCIPLES OF ACCOUNTING, by H. A. Finney. A revised edition of an accounting “best seller.’
Apollo Restaurant A Good Place to Eat Breakfast - Luncheons - Dinners Chops & Steaks 108 West Maryland Street
sumed on Saturday,
present emergency.
telephone Riley 9331.
LOUISVILLE TRAIN SERVICE RESUMED
The Pennsylvania Railroad announces that its service into Louisville was re-
Mayor of Louisville requests that no sightseers come to Louisville during the
ness at Jeffersonville, Indiana, must obtain a permit from the ‘Adjutant General of the state of Indiana at Indianapolis before entering that city. For information
The PENNSYLVANIA
January 30th. The
Those having busi-