Indianapolis Times, Indianapolis, Marion County, 2 February 1937 — Page 17

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Trends

We Should Oppose German Loan,

Flynn Says.

Abreast of The Times on Finance

* o

PAGE 16

TUESDAY,

FEBRUARY 2,

1937

partment reported today.

aggregated $732,336,000, up 1}

Food Exports Drop

Exports of food products during 1936 decreased 6 per cent from the previous year, the Commerce De-

Imports of food products per cent.

STEEL WAGE UP

BY JOHN T. FLYNN

EW YORK, Feb. 2.—Though the American people do not know it, there is a strong current now flowing in financial circles to find a means of resuming loans to European governments. And in the light of that movement the story which comes from Washington is, to say the least, disturbing. The story is- that English diplomacy is laying the ground - work to induce us to make a huge loan to Germany. To the casual reader this will sound fantastle. does England want us to do this? Because she wants time —time, above all else, is the which England

Mr. Flynn

priceless element needs, time to arm, to get ready for the inevitable war. The British industries are mobilized to produce munitions, British propaganda is on the march to produce the war spirit, "British finance is harnessed to produce the money, and the British Foreign Office is charged with the mission of keeping the peace in Europe for at least a year —for that is how much time England needs. England does not desire war. She is for peace. But, thinking war inevitable, she wants to be prepared. And she wants time for this. =n = n UT Germany's case is desperate. Her economic situation is in its last stages. She must either face collapse of the regime or get funds or plunge into war for a possible escape. Therefore England would provide her with funds. But it is our funds she proposes to supply, if possible. been begun to make this possible. First, she would have to persuade the State Department. Few believe that would be difficult. Then she would have to convince the President or at least confuse him a little so that the State Department might prevail. Then she would have to find a way of enabling us to jump over Johnson law, to induce the Senate to make a right-about-face and to educate the public opinion of the country to the enterprise. Strange as it may seem, none of these things are impossible, if the plan is not intelligently and vigorous!y opposed. = ® ®

HUGE loan, every dollar of it to be spent in this country, in American factories, to go into the wages of American labor, would sound very alluring to large masses of people. And yet, brink of war, the last war.

Germany stands on the She has not paid for Her debts to her own people were repudiated by inflation. Her debt to us for postwar expenses of the Ruhr is repudiated. Her private loans made since the war are in default or what is the same thing, since interest is paid on loans only in marks to the Reichbank bureau and cannot be wtihdrawn by Amer=icans. She is preparing for another assault upon her neighbors. She may postpone it a year or two, but it is inevitable. If we make a loan to her—a bankrupt government—we will never see a penny of it. It might be an excellent idea for the American Senate or its in= fluential leaders to serve notice upon the State Department and our bankers and our English and German friends that there is going to be no such nonsense as they are hatching. (Copyright, 1937, NEA Service, Ine.)

Fruits and Vegetables

(Quotations below subject to change, are average wholesale prices being offered to , by jocal commission dealers.) Tt ~Pears, Oregon D'Anjou, extra | y "Yo 5, 84; California Avocados, 20s5-24s, x. § ‘Bananas, selected, 1b, 434c. 5, No. 1 Indiana Delicious, 22 inches up . 1 Indiana Golden Delicious,

: No. 1 Staymans, 2% = 2 | with a usual slight decline, the bu |

Jonathans, 2!2 inches up. N York Wealthy, 2%: 835: No. 1 Winegaps. 2% Vo. 1 New York Imperials, $ Lemons, 8SunLimes, Mexican, cars Grapes—California me chest, $3.73. GraheiTalt. 645-805, $3.25. Orange Sunkist, navels, nl 50. loridas, at.. 13¢. Pineap RA $4.50. Strawberries, Florida. oh 1

Vegetables—Artichokes, doz., $1.25, Beans.) Florida stringless, hamper, $3.25, Beets, homegrown, bu, . new Texas, 3 gos. ‘ 1.75. Broccoli, California, 75: bunch, ot But Brussel Sprouts, drum, $3.73; 20c¢, XY 50-1b. bag, doc: ‘new Texas, red. $1, Carrots, California, $1.25. Cauliflower, 11s, crate, 9, erv. Mammoth, doz. 75¢. Celery bage, Michigan. doz. Cucumbers, hothouse, doz., $1.50. C , doz. pots, 90c. Egg Plant, 2... $1.50. Kale, Vir- | ginia, bu, _ Lettuce, Iceberg, California | best, 80s, © 5s, $5: leaf, hothouse, 15-1b. basket, . Endive, California. doz., $1.15, Peppers, Mangoes, crate, $3.50; doz. 40c. Mint, doz. 60c. Mushrooms, homegrown, 1b... 0c. Mustard, Texas, bu. $1.50. Onions, Indiana yellow, 50-1b, bag, T5¢: Western Spanish, $1.35; ern White, $1.25. Oyster Plant, doz, 45c. Parsley. homegrown. doz. 35¢: Southern. Jarge bunch, 50c¢. Parsnips, homegrown. > . 85¢c. Potatoes. Maine Green Moun-100-1b. bag, $3.25: Idaho Russets " : Michigan Rurals, $2.95; Colorado MeClures, $3.75. Rutabagas, Canadian. 50-1b. bag, 80c. Sweet Potatoes, Indiana Jersey ‘Possums,”’ bu, : Louisiana Puerto Ricans, bu. $2.25 Radishes, tons. hothouse. doz., 60c: white, Rhubarb. hothouse, No. 1, 5-1b. carton, 50c. Sage. doz. 45¢, Spinach, Texas, bu. $1 Shallots, doz., 30¢, $1. Turnips. bu. $1; new Texas, bu., $1.50 Tomatoes, repacked. 10-1b, box, $1.40; repacked, best, 10-lb. basket, $1.50

Produce Markets

(The prices quoted are pald for stock gathered in the country, while for deliv. eries in Indianapolis the prices are 1 cent higher. ach Jel, case of eggs must weigh 53 _poun EgRs=

doz Heavy breed hens, § Ibs, and over, 1d¢; Leghorn breed hens, heavy, 9¢. Heavy breed springers, 1'2 Ibs. over, soft meated, 13¢c. Leghorn breed springers, 8c, breed stags, 9¢: heavy breed cocks, k full Feathe ered and fat, 8 Jos. “and Te. Geese, full-feathered and f Tiirkes young

California, Kumauats, crate,

gro Vo. i Spirieuy fresh, loss off, 17¢

tter—Creamery, No 1, 33 34e. Butterfat—No. | 1, 33¢: No. 2. 3lc. o (Br nied Press) 2. —Eggs—Market, une receipts 0834 cases: fresh graded s. pc: extra firsts 2234¢: dirties, 3%¢; current 1 ceipts, 20%c: checks, 18c. Butter-——Market, 0irmer; peeps 7330 tubs; extra Brets (80-9112 score), 32@32Vac: specials, 33@33'a¢; extra (92 score), 32isc; firsts, 31'4@31%c¢; standards, 32e. Poultrv—Market, steady receipts, 40 trucks: geese, l4c: ducks, NO chickens 184 20c: broilers, 12@17'%¢; _ Leghorn hens, roosters, 12@13c: JERE, Cheese—Twins. 17@1 @17%¢: Longhorns, 17! 2 @ 1h Potatoes—Old Stock: Bunotics liberal; trading on account of cold weather; receivers not Mond cars on account of weather: late Monday Colorado McCiures in slow demand; market steady: other Markets slow aho_ Russet Burs banks. $3.20@3 50. Coloradg | Red McClures, $3. pay 40. Wisconsin und Whites, 2.40: U. 8. Commercials, $2.20, Michusset Rurals, $2.35 2.50,

CHICA settled;

practical no

a New stock—Supplies, mo erate: no trading late Monday: demand slow: no track sales: street sale, Florida, bushel cra crates, Bliss Triumphs, [email protected]; 2,

1. : shrrivais, 43; on track, 270; Shipments,

| | Hence the work has |

Ap- |

31 ork. | | Argentine Ren. Has y

North: |

but= | N 40¢. |

Squash, Hubbard, bu. |

23 PER CENT IN LAST 14 YEARS

Composite Selling Price of Finished Products Has Shown Decline.

| Times Special | NEW YORK, Feb. hourly

2.—Average

New York Stock Exchange Prices

(By Thomson & McKinnon) 10:00

Aviation Corp .. Boeing Aircft . Curtiss Wright . Gurus Wr "Ar,

Un Aircraft New Trans Contl & W

Building— Am R Radiator dis

ar Ti wages of steel employees | Holland Furnace 8,

High. Low. AM.

BIg HOO pe OO Ahn won OF gn

w ~~

Cd bt JY pt pt J TOD ©

PDI UID re JDO

Cah a oo sh EN

BOLI b= TBI Na ane

BIBS RO BO bt 303

2912 22

=2 for

2914 3

| have increased 23 per cent since Johns “Manville. 1488 ibby Owens Gls Ba

| cent, according to the American Iron and Steel Institute. During lof both steel wages and prices | reached the low point of the depression, the Institute said. In that vear average hourly earnings of the | industry's wage earners was 12 per cent below the average at the beginning of the period, but the composite price of steel was 30 per cent | below 1923, it said. Average earnings of steel wage | earners in 1023 amounted to 59.6 | cents per hour, from which level | they steadily advanced until the | full force of the depression began |

| to be felt, the report said. o

Prices Gradually Rise

was pointed out, | ton from 1923 through 1933, from $67.71 per ton to $47.41. The decline | was interrupted only in 1929 when | the composite price for the year

| showed a 2 per cent advance over |

| the preceding year, the trade group | reported. Since 1933 steel prices have risen

the | gradually to the current composite of $56.85 per ton, but are still 4 | cent below the average in the |

per seven years preceding the depression, the Institute said. By comparison, the report de- | clared the increase of approximately

[20 per cent in the composite price of steel products over a recovery

CHAIN STORE SALES

Grocery Systems Show hut

Slight December Gains. | Times Special | WASHINGTON, Feb. 2-—Daily | sales of grocery chain stores | for December showed practically no change in dollar volume from De[cember, 1935, but were 6 per cent

the average change between these!

two months for the last seven years, the report showed. | However, November sales were ‘more than seasonally high and showed an increase from October of | about 214 per cent, as contrasted | |veau said. Average daily sales for the year | | 1936 were 4 per cent above those for | [1935 and were 8 per cent higher | | than for 1934, the report said.

New Bond Issues |;

| (By W. L. Lyons & Co.) S| Allied Stoves 415s * Bid. ao |] 10034 9914

106% ; a

‘el 10114 | Calif Oro Prw 4s 88 Cont Maine Pwr 4s ° Cent Maine Bw Cint G & E 314 | Cleve Tract or

| Cudahy Pkg 9s Fla Power 4s 66 | Fla Power 5s "66 | Great Nor 3%s

| | Houston Lt & ower Qs Thdnls Water 314g | Tawa Son Util 514s 8s | Kansas P & I, 414g Kopners Co 4% 31 | Tiong Ts] and PR 4c ’49 T.05 Anoeles (3 & | Touisville G 2 ® R15 | Mengel CV 41.¢ 47 | Metre ¥d 4< "R53 | Ninn G~s & i 4s 50... arras Elee 21 NO Fmeland Pow Sans he 8)... ™ Y State Flee A 95 "65 ... in Fdison 23 72 Akin T&R as “18 [Okla Gas & ¥ Tne 23g * Pac Gas & Blac 315¢ '§ | Pac Yiehting 41,5 4% 1 Page Te] 314% "GR Pra Gos Lite agone 4s *61 .... | Tenn Tel 4< * Pajlwav Vive See alg * San Cal 3 & BR ac 5 | Sep Kraft Ali 48K wo | Wise © & ¥ R1.¢ RR Wise Pub Sve 4s '81

0734 10414

00, 10434

Unlisted Stocks

(By Blyth & Co.) Pankers Trust Cha

Central Hanover Chemical Continental Tilinois Guaranty vine

| National CY vu National Shawmut First National Baston FIRE INSURANCE Aetna Pire Insurance .. American Ins of Newark Raltimoare American Franklin Fire on geral, Le TB ‘aa siren marican Lg Natinnal Pire urance Hartford | Hanover Wire Natianal Liberty . North Ry r

TE re Fire .

Fruits and Vegetables

(By ued Press) —Apvles—Michigan swt Er nora

Kee Shmth=TOn es—Mexican ns Ni

SHIOAO: Mcintosh, ana Pu ito Hieahe Tinos, @90¢. ro @3,

exican, Michigan, sauare crates, @s1.25, nions 1b, sees) —lilinols and Thais

ana, Veliov. 28

| | | Cal Packing i

The composite of steel prices, it | declined $20 per |

in unfin- |

REMAIN UNCHANGED

Why | 1923, during which period the com- | Otis Eley

arren Bros ... Chemicals—

|4 Al Reduction

| Enos Tex i... | Liquid Carb | Natl Dis (new). | Schenley Dist

1933 the annual average | Tex Guilt Shon 402% ..107

Union Carbid U S Indus Alco. | Am Home Prod. Df y pm Lamber Lehn & Fink | .. | Walgreen Un Drug { Vick Chem Equipments—

Am Car & Fdy. {Am Loco + JB

Am Steel Fdy. Bald Loco . Gen Am Tk Car. | Gen Elec Gen R R Sig .

| Poor & Co

| Pullman Inc . West Air Br . Westingh Elec . Financial—

Adams Exp Allegheny Corp. Am Int Corp. Com Credit | Ghee Corp Com Inv Transamerica «.

Foods—

Am Sugar ..... | Armour Borden Prod

rust:

| Coca Cola

Corn Prod

(mew). 19 .s 4

1132 Som Solvent «0.290 com, olvents + 28

27% 441

1.168 ©

3»

182

Cont Bak ‘A’ ... 363 | Crm of Wheat... af

{ Cuban Am Sugar i

| Gen Baking 1 Gen. Foods ....: { G W Sugar {| Hecker Prod | Holly Sugar . | Loose Wiles | Natl Biscuit | Natl D

Purity Bak

Prod .... 237

va 2 8 Porto Rico sug

| Howe Sound Ins Copper Int Nickel Kennecott

Park U Phelps Dodge St Joe Vanadium Miscellaneous— { Allis Chalmers Amer Can _ . Am Mach & Fd { Brklyn Man Tr | Burroughs Add Contl Can Caterpillar Tract Crown Cork.. Curtis Pub .

Foster Wheeler. Gillette Glidden Ingersoll Inter Harv Owens Bottle . Rem Rand Underwood E Worthingtn Pmp Motors— Auburn Chrysler Gen Motors Graham Mot Hudson . Nack Truck ...

Studebaker White Mtrs

Motor

Bendix Bohn Alum 'e Borg Warner ... Briggs Budd Mfg Budd Wheel ... | Elec Auto Lite. . { Grevhound New. | Houdaille | Stew y Timke! Timken

Oils— Atheta da

Rfg Barnsaall | Eonsel Oil ont of Del | Bont on hio Oil | Pet Corp | Phillips pei "id ; Plymouth off...

Access—

Roll .

| Tidewater Assn. « i

{Un Oil of Cal... Rails— tehison

| Ili Cent

& | Lehigh Yailey 4 K&T ..

n he N Y New Haven.

{N Y Ont & West 283

ha | West Maryiand. , Retail Stores—

Allied Stores ... Assd Drv Goods Best & Co First Natl Shores Gimbel B Gd Un Tea Jewel Tea

MORE LEA

Times Special

ing year.

Times Special CHICAGO,

ing the week

Gt “Nother bid 2

NEW YORK, Feb, . | gasoline consumption in automobiles set a new record during 1936 of 13,335,000,000 gallons, the Ethyl

Gasoline Corp. announced today. This was 1,317,000,000 gallons more than were used during the preced-

Lead..... 4

Eastman Kodak 17

vaaaaet Bi Rand ..139 Natl Cash Reg.. 35% .160

93 45%

vein Bf Yellow Truck

ee See RI SF BIRT UT I fret a 8380 RS 0D . - ¢ »

WB BIBS Bea er OF ee GHAR Fie OCS

WBS BT

2 4 4¢ 29% 37% 9%

C3 3

18% ; 17% 215 21%

491, oy . 247% 23% 5 78%

DED GAS USED

49 24

5 8% 78%

2.~Leaded

AD LINEAGE INCREASES

Feb. 2.—Retail ad-

vertising lineage in newspapers dur-

ended Jan. 16 was 4

per cent greater than in the corresponding week last year, according to Advertising Age.

- Fv ELGIN WATCHES

Kresge § S roger Groce ....

McCrory St «i... McLellan 8t Marshall Field. .

Rubbers—

Firestons ...... Goodrich ...

U S Rubber ‘pid Steels—

| Am Rall his. .

Beth Byer rs Cw Cruc Steel Keystone Steel...

DNL re =JOOLS

ve od = >

ee Warren Pipe- Fdy Youngstown §S- 4 8

Textiles— Adams Millis ..

oa - a =

High.

t= Q 4

a - es °

Amer Woolen Belding Hem Celanese Corp .. Collins Aikman...

a BCD bet TPC ht pet >

BS C3 bt OT Cd ht pt D-II r= DIC

Kayser Julius. . Tobaccos—

— GIRS =D DISD £ Ses Ne — PII =D DID WD Ee

Utilities—

Am & For Pwr Am Power &

pnd FEN E ho Pot D3 OO bt eb IB nb ro = EEE >

BO be BO OO bet bet Pr WN

Elec Pwr & Lit. boro R T..

n Fala

C3 bt BS et pt DIB ° >

w DV pe £3 fe BY . ow la

Tv So Cal Edison.. Std Gas Stone & ebWater

CD et C43 CIV C1 63 C3 1b D3 Ft pet BT il $s BIC et bel =» wo

Sas 2 rd Fo

a. a om

Mo C3 ht C3 CIV JN 63 3 et BS Bb et BD WB

-3 °

Western Union..

tax and the surtax.

joint personal exemption.

COMPUTATIONS—SEPARATE RETURNS Net income, husband.... Less personal exemption.......

shee. $4,700.00 2,500.00

Balance (surtax net income) 2,200.00

(No surtax applicable since amount is less than Earned income credit

Net jatome subject to nor= mal t

cashes

Hsbang' 8s normal tax ut 4 per v 69.20

Net income, wife..cvvevvinasss 2,500.00 Less personal exemption..... Less earned income credit

Wife's normal tax at 4 per cent

Tota] tax of husband and wife 159.20

net income.

Your Federal Income Tax

(Eighth of a Series)

HUSBAND AND WIFE MAY FILE JOINT OR SEPARATE RETURNS

HUSBAND and wife living together may each make a separate return of the income of each, or their

income may be included in a single joint return.

If a joint return is filed, such return is treated as a return of a tax unit, and the income disclosed is subject to both the normal

If a joint return is not made by an agent of the taxpayens it must be signed by both husband and wife and sworn to before a proper officer by the spouse preparing the return, of if either or both prepare the return then by both spouses. Where separate returns are filed by husband and wife, the joint personal exemption of $2500 may be taken by either or divided between them in any proportion as agreed upon. In certain cases it would be to the advantage of the couple if they should file separate returns and one spouse claim the total In the following examples, which illustrate this point, the husband has a net income of $4700, all of which represents earned net income and the wife has a separate net income of $2500, not earned net income,

It will be noted that the saving in tax resulting from the filing of separate returns amounts to $28 in the above computations. *In filing a Joint return husband and wife compute the earned income

credit in the same manner as in filing separate returns. come is not more than $3000 the entire net income is considered to be earned

COMPUTATION—JOINT RETURN

Net income, Misvand $4, 3.305. 00 et income, wife y rn 4 200.00 Less personal exemption..... «. 2,500.00

Balance (surtax net income) 4,700.00 Earned income credit: 10 per cent of earned

income hus- . § 470.00 net

250.00 — 720.00 income tax subject to

3,980.00

Net normal tax soiesissrennens

tax, 4 per cent on

Normal 3.98 150.20 Surtax at 4 per cent on amount $4,000, but not 000, 4 per cent on ed income credit not allowable in computation of surtax)

Total tax, Joint Teturs of

husband and w 187.20

If taxpayer's net in-

INSURANCE ASSETS SHOW LARGE GAIN

Times Special PHILADELPHIA, Feb. 2.-—Assets of the Provident Mutual Life Insurance Co. Philadelphia, at the close of 1936 amounted to $315,544,000, an increase of $17,027,000, the largest annual increase in the history of the company, M. A. Linton,

president of the company, stated in his report to policyholders. Insurance in force increased from $034,037,000 to $942,946,000, a gain of $8,000,000 during 1936 as compared’ with $170,000 in 1835.

Local Securities

(By Indianapolis Bond and Share Corp.) The following quotations do not represent actual bids or offe . but merely indicate the approximate market level based on buving and selling inquiries or recent transactions. BONDS

1,8 '85 Be: Arta, d Assoc Tel 4's ° } one ‘Ine (TH) 4's '61...103%

ndpls Railway ndbls Water bly 32 nterstate Tel & Tel '83.. Kokomo Water Works 5s '58. Morris 5 & 10 Stores 5s '50..1 Muncie Water Works 5s 65. Noblesville H IL & P 6'25 '47. 103 Ohio Tel Serv 6s 41 100 Richmond W 5 7 Seimour Water Se 5s '67 T H Troe 44 I

H Water Works 5s H Water Works 6s ‘40

frac Term Co- 5s '57 Tel Co 5s ’60........ 08

. STOCKS Belt Railroad & St Yrds com.. 59!2 Belt Railroad & St Xs pid. . 3

Cent Ind Pwr pid Fy Ft Wayne. .

Indiana

8 md Pe RN DS rogress Launa Pub bs Serv Co of ha gla 4 6s.

Investment Trusts

(By Thomas D. Sheerin & Co.) Bid Asked Administered Fund 2d 21.40 Affiliated Fund, Inc mew). 12.40 American Business Shares. . 1.43 Broad Street Investi ng vara 38. RNR Bullock Fund, Ltd v 5.11 Century Shares Trus . 4 30.04 Corp ‘‘AA” or Acc’ (mod) .. ‘ ee Corp a or ‘Acc’ {Unmod) ‘ orp ust Shs (orig) . Er sihed Trustee he Diversified Trustee Shs ee Diversified Trustee Shs "“D’ Diy)osnd Shares, InC..vvvuvs. Fundamenta “ General Investors Trust +...» ncorporated Investors ... + 3 Market guset. Invest Corp. . Marviand asac Betts De aves ors utual Investment ni

. fara

ro LF LIBS 15D BRI TEI,

sabe

COT BD LIFT I IDA BID D

N N N N N

Quarterly ected ecte ected

tate Bt th stment corn Bupervised She "ne Belo [rustee Am Bk B “a rustee Stand Oilshares fp, Trustee Stand Oilshares "B”.

usiness! W. C. BRASS and Associates 134 B. Mer, RL 072}

Bwmployes Comfort is good busin

Chicago Stocks

(By Atkins, Hamill & Gates) 10 Prev.

close Advance Alum ... Allied Products ‘e : ti Asbestos Manufacturing 'e 3 3% Bosuish ginsan ng ve a 22 pergho Bruc E L 251, Central Illinois Publ Service . Cities Service Cord Corp Crane Co Consolidated Biscuit Cunningham Drug Electrical Household General Household Great Lakes Dredge ..... ease @ Co

ad Tub Libby Monell and Libby Loudon Packing Marshall Field

nk Public 'Betvice North un NP. Standard Dredge pfd . au tute. Cummins

Walg Williams’ Oil-O-Matic Woodall

Zenith .

New York Curb

(By Atkins, Hamill & Gates) 10am.

American Cynamid Amer G Arkansas Natural Gas (A Barium SY a & Chica Re Me abl 8h : ca exible aft .. Connie. © Oil Consolidated Copper agle Picher Lead . Tie Bond ahd Share. p 0 Ss aha a (A) greentid °F = d Di reen Can an TON Gulf Oil, woven 63 Humble on and ‘Refining Co.. Huyler Preferred .. 27 Food ..... Off ....... PrarbabRLeALS National Rubber 1 Niagarh Hudson Power {new}. Pan-American Airways ... 69 Root Petroleum Rusess a and Steel . .

Sasha nan

Chicago Grain Futures

(By James E. Bennett & Co.) Wheat

1.00% 99's 80% Soy Beans— Ma AY } 551%

Juin 1.54% id; sellers.

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, 98c. 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].

% 8 1.54%

“MORRIS \\ PLAN DELAWARE OHIO

158 ° 1.55%

ADJUSTMENT OF PRICES LOWERS PORKER MARKET

Quotations Range Unevenly Steady to 20 Cents Off On Run of 7000.

Prices were adjusted in the hog market today at the Indianapolis Union Stockyards to conform with other packing centers and quotations were unevenly steady to 20 cents lower than yesterday's aver-

age. At the close weights of 160 to 180 pounds sold for $10.40; 180 to 200pound weights were $10.45; 200 to 210 pounders were $10.50; 210 to 226 pounds, $10.45; 226 to 235 pounds, $10.40, and the 235 to 250-pound class brought $10.35.

Packing sows ranged from $9.25 to $0.65, top $0.75. Weights of 250 to 260 pounds brought $10.30; 260 to 275 pounds, $10.25; 275 to 285 pounds, $10.20; 285 to 300 pounds, $10.15; 300 to 325 pounds, $10.10; 3256 to 350 pounds, $10, and 350 to '400- pounders were $9.90. In the lighter divisions, 155 to 160pounders sold for $10.25; 150 to 155pound weights brought $10; 140 to 150 pounds, $9.75; 130 to 140 pounds, £0.50; 120 to 130 pounds, $9.25; 110 to 120 pounds, $9, and the 100 to 110-pound class, $8.75. Receipts were 7000. Steers, Heifers Steady

Steers and heifers were generally steady to strong with instances of another 25 cents advance, making some sales 50 cents above the close of last week. Receipts totaled 2000 cattle and 700 calves. The extreme steer top was $12.50, with other sales mostly $825 to $11.50. A few strictly choice and weighty heifers brought $11 and the bulk sold for $6.50 to $7.50. Cows were fairly active and strong. Bulls were steady. Common to medium beef cows ranged from $4.75 to $5.75, the cutter grades, $3.75 to $4.50. Weighty sausage bulls were $6.50. Vealers were slow and sold 50 cents to mostly $1 lower, the good and choice kinds going for $10 to $10.50. Odd head of strictly choice grades sold carly at $11. The steer market was generally steady and the bulk of good and choice fed Weslern and native lambs sold for $10 to $10.25. The bulk of the slaughter ewes ranged from $3.50 to $4.50; top, $5. Receipts totaled 3500.

0.30 10.20@10. 45 Light Lights— (140-160) Good and choice. hs : 30810 40 Mediu ‘ [email protected] Lightweights— (160-180) Good 2d

Mediu (180-200) Sood and’ Medium ‘ee Medium Weights— (200-220) Good and (220-250) Good and Heavyweights— (250-200) Good and choice.. [email protected] (290-350) Good and choice... 9.90@10,15 Packing SBows— (275-350) Good (250-425) Good ....ceonnvene (425-500) Good .....eov.iuun (276-500) Medium Siaughter Pig (100-140) dad x and choice..

+ [email protected]

9. 80 10.20

10.20@ 10.45 10.306 10.45

choice... choice...

Cesar sseiannn

EEE

—-Regeipts, 2000-— (550-800) Good

[oe

— DID 3 ~ID ND IDE ID PIII DIES TT

B30 3 ID pe NID

(000-1100)

DN 3 =IBS BST ——

AAA ND DA A

(1100-1300)

- POT IAOOUMPIOIT NTN

9993939929933

FIP RI -3¢ [Eo

(1300-1500) Good

500-750 ..$ [email protected] 1500730) G 8.25@ 9.15 Common, medium. 5.00@ 8.25 Good and choice.. [email protected] Good and choice... [email protected] Common, medium. 5.00@ 8.25

Cows

(750-900) (750-800)

Good Common and medium ... Low cutter and cutter. Bulls, good Cutter, com, «ue. ' Vealers ~— Receipts, 700

Good and choice .....c....

(250-500) Sood and choice..$ 8, mmon, medium. 5. Forne and tSocker Cattle (500-800) Good and choice..$ 6.25 (800-1050) Sud and choice... 6.25 Common, medium. 5.25

93 e399

2a >>2

Heifers

Good and choice .... Common and medium

SHEEP AND LAMBS ~—Receipts, 3500—

83 938

oD > 3

Lambs Choice Good

Common Ewes— (90-175) Goud and choice.. mon, medium (Sheep ny Tamb quotations on clipp basis.)

ELE

—

Other Livestock

By United Press) CHICAGO, Feb. 2.-—Hogs—Receipts, 14,000 including 2000 directs; ore top. mostly | 1b higher, spots u 3 h jodie elon nd choice, Pages 300 lbs., $10.20@ 10.30: Nyy light- li hts, $10.15; good SOWS, ew C Receipts, 7000; calves, 1500; very little beef in run but market .on steers very draggy, uneven, weak; prospects lower on other than f few loads choice offerings, no reliable outlet for cows and big killers; bearing down on other Killing classes, especially heifers; weak to lower undertone due to dull dressed market, both locally and in East; later developments narrowing demand for choice and good sitent and earliny S hE light Floats 3 est b Tank and Ro LA done on Far ran 0 she-stoc ake ny

not

3 Pndestond a to choice eep strong. tive ee omer fambs held $10. B& 10.35 and upward: early ids, $10 down, scattered native ewes, [email protected]

Busigraphs

WEEKLY FACTORY WAGES (NAT'L INDUSTRIAL CONFERENCE BOARD)

OCTOBER EACH YEAR

1930 1931 1932 1933 1934 1935 1936 |

THE PARKER CORP, GENERAL DISTRIBUTORS INCORPORATED INVESTORS

Factory wages, on the average, have gone up almost as fast as the rate of industrial production. Weekly wage rates are now 75 per cent above the depression low and only 11 per cent below the high point in 10280,

N. Y. Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100)

Today ........ Saturday’ 9 Week Ago Month Ago Year Ago . 1937 High . 1937 Law .. xNew low,

(Copyright, 1837, by Standard Stati:

(By U. 8.

L. 8. Moseley & Co.) GOVERNMENT BONDS

1047-52. c000niiniannnne, 1044-54... 1046-56... ‘ 1941-43.......40

Cassar ssananeas

Sessa sanennnans tresses

tess ssesesssnanas

I05<B0 rire e rire Home Owners’ Loan 1042-44...

Federal Farm Morigage Corp.

3s 3s 1049 seseessennns 108 3s 04a Ah ries ooo 108.2 + DOMESTIC Today's Bond Leaders—

Am Tel & Tel 3'%s '61..... Rep of Cuba 4':s '45 Inter Hydro Elec 6s '44...... Phila Reading Coal 6s '49 Third Ave Rail 55 '60 .....o00 43

Close, 101% 60 87

Alleg Corp 58 '44 ..ivvsvnnens 100% Alleg Corp 5s '49 ... 8 Alleg Sore 5s '50 . Pow 58 2039 .

& At Coast Line 4s ' Atl Coast Line 4lis '64 Ach wioP & 8 Fe Was 48 Wat Wks 6s .

Beth Steel 4s 80. Chi Milw & St P 5s Chi Milw & St Cleve Un Term Bs Cleve Un Term 4'as Col Gas Col Gas Col Gas Can Pac 58

Big Four 5s '63 Gplorade & So 458 '80.. hi & West Ind 4s '52.. 4s Ss 31

Grt Northern ‘G' 4s '46 ...... Grt Northern ‘H’ 4s '46 ... Grt Northern 45s '77 Gen Stl Cast WW 5as '49 ... Hud & Manhat Ref 5s '57.... 111 Cent 4%s ‘66 Ill Cent Jt 4las '63 Ill Cent 5s '63 Interboro Rapid Trans 5s hd 98 Interntl Hy Elec Ss ‘44 7 Interntl Tel & Interntl Tel & Te b Interntl Tel & Tel yO '52 Lehigh Valley 4s 2003 . McKess & Rob 38 '50 . Mo Kan Tex Adj 5s ” . Natl Dairy 33%s '51 . Natl Steel 4s 65 . Nickel Plate 4'ag '73 .. aL Nickel Plate 5'28 "74 ......... N Y Cent 5s 2013 N Y Cent 4's 2013’ (old) . N Y Cent Conv 6s '44 ,.. Nor Amer Co 5s '61 Nor Pac 3s 2047 Nor Pac 6s 2047 . Nor States Pow 55 4. New Orleans Term 4s '55. Otis Steel 6s '41 . Penn Ry 4s 3. see Penn Ry 4'is '81 . Penn Ry 33s '70 Portland Gen El 4158 60 Para Publix 6: Penn P & L 4!%s Postal Tel & Cab 5s '5 Rem Rand WW 4l4s a Shell Union Oil 3las 5: . Socony Vae 3':s . Sou Pac 4las '68 Sou Pac 4'as Sou Sou

6s '39 Western Marv S8'as Western Union 5 Youngstown 8 & T 4s '6! Youngstown 8 & T 3'zs st’, S.13213

FOREIGN

Argentina A ou y Australia 4'5s 8s ‘41

Other Livestock

(By United Press) FT. WAYNE, Ind. bh, 2.— ket, 10¢c hi her; 200-225 1bs., $ ibs., Sioa): 180-200 1bs., $10.15; 160-180 Ibs, 10: 300-350 190 $9.85: 1 jy. 150 1bs.. ns 60; 130-140 1bs.. 1 130 1bs., $9: 100-120 lbs. $8. Roughs, $0; stags, $7.50, Calves $i =, Lambs 0.

LAFAYETTE, "200: %i2s 5310; 2

d., ket steady to 15¢ low 30; 225- oa, 1bs., *$i0. 18@10. 5 A -275

213-328

down. Calves,

0 23.55 Lambs. 5: 150 ao

Rush Jobs Make Us Smile

Hendren Printing

Company, Inc. 470 CENTURY BLDG. RI1-85338

Bonds of the United

Indianapo

Its Territories and Insular Possessions Federal and Joint Stock Land Bank Bonds Indiana Municipal and Corporate Securities Real Estate Bonds and Preferred Stocks General Market Securities

lis Bond and Share Corp.

129 EAST MARKET STREET

States Government,

0'MAHONEY ACT SEEN CHECK TO HOLDING FIRMS

Senator Says Section of Bill Would Abolish Concerns Completely.

By United Press WASHINGTON, Feb. 2.—Senator Joseph C. O'Mahoney (D. Wyo.) ase serted today his Corporation License ing Bill, if passed in its present form, would completely abolish holding companies.

Such a result, Mr. O'Mahoney said, would follow from a section of the bill which thus far has escaped comment at committee hearings on it. It provides: “No corporation formed pursuant to this act shall purchase, acquire, or hold stock in any other corpora tion, nor shall any corporation organized under this act or under the laws of any state or foreign country for the purpose of or engaged in carrying on the like business to that of a corporation formed pur= suant to this act acquire or hold the stock of such last-mentioned corporation, and any attempted transfer of such stock contrary to this provision shall be null and void.”

N. A. M. Against Bill

The National Association of Man= ufacturers advised its members that the bill is “unsound in policy, ine valid in law” and would re-establish “unlimited and unfettered” Federal control over business. “The compulsory licensing fea~ tures of the act are drastic and far= reaching,” the association declared. “They are in no sense voluntary. They invite control of matters not within the term ‘commerce’ but as to which the courts have uniformly have held that Congress has zo regulatory authority.” The association quoted sections of, the O'Mahoney measure and the invalidated NRA which, it said, showed the language in the O'Ma-=-honey bill is almost identical with that condemned by the Supreme Court in the NRA decision,

Flynn Is Witness

“It is not true,” the association said, “that only corporations would be licensed under the bill. The proposed measure would give the Fed eral Trade Commission broad authority to extend the act to individuals or any other form of busi= ness organization and thus to bring within the act any person engaged in commerce.” Three main supported the bill generally but only one has suggested specific changes to the Senate Judiciary Subcommittee conducting the hear= ings, John T. Flynn, New York oconomics writer, endorsed the prin= ciples of the measure, but recommended ‘that certain specialized functions, delegated io the Federal Trade Commission, should be left to other governmental agencies better qualified to administer them.

Would Require License

Charles A. Beard, political scientist, called the bill a “real beginning” in an attempt to regulate corporations through the Federal government. William Green, president of the American Federation of Labor, said “all organized labor in the United States” is in favor of the proposal. Generally, the bill would require all corporations engaged in interstate commerce to take out a Fed= eral license. Every license, ac= cording to the bill, would contain Prohibitions against child labor and discrimination against women in industry, and would recognize employees’ rights of self-organization and collective bargaining.

witnesses have

Money and Exchange

INDIANAPOLIS STATEMENT Clearings 4.598.000 Debits 10,376,000 TREASURY STATEMENT (By United Press) WASHINGTON. Feb. 2.—-Government ex»

penses and receipts for the current fiscal year ending Jan. 30, as compared with a

year ago: Last YL

TNO ee a ad et 0930 BGI [PAB® AAR

B38 SN ORDA D EZ -1] UNDO 43D RRO ew

sh Pub. Debt

Gold Res

Customs '223.767.270. 14

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