Indianapolis Times, Indianapolis, Marion County, 11 February 1937 — Page 12

Trends

Price Raising Plans Are Unsound,

Flynn Says. BY JOHN T. FLYNN

EW YORK, Feb. 11. — The League of Nations is now turning its hand to planning an economic conference to raise the world price of sugar. It is not so many years ago that all around our ears we could hear the explosion of price agreements blowing up. Look back at newspapers and financial magazines before the crash. There was scarcely a country with a large money crop or money mineral product which did not try its hand at a production and price plan. There was not one which did not fail. And in every case the newspapers and financial and industrial commentators called attention to the inevitability of the failure and to the serious consequences of those failures, There was the Straits rubber price pool which sent rubber soaring and then cracked up, with the Straits producers worse off than before they began, because they had, in addition to all the troubles suffered from the pool, the rise of new markets which the high price encouraged. They will probably never be the same, = u HEN there were the various copper agreements. The copper people wanted 14-cent copper. Agreements were made on price and copper climbed. It climbed to 18 cents and then past 20 cents. Then every high-cost copper mine in the world began to spout copper. The copper pool collapsed and the copper business has never recovered. Perhaps the most disastrous was the Braziliai. coffee plan sponsored and financed by the Government, That plan failed, leaving not only the producers worse off than before, but the Government itself near bankruptcy. When, said the commentators, will these producers learn? The answer seems to be never. Because the most important element in the pattern of business—national and international—since 1931 has been the efforts by producers, by governments to keep prices up by agreements. And now the League of Nations turns its hands to the Job.

Mr. Flynn

” ” »

HIS, of course, is not the first attempt to hold up sugar prices. In 1931 there was a world conference of producers provoked by the Cuban industry and managed largely by Mr. Thomas Chadbourne. It was held mainly in Amsterdam and Paris under the auspices of the Dutch-Java planters. The most elaborate machinery was set up to put the price up and then to keep it from going further. In this country there is hardly a natural resource industry that has not had a plan of its~own or one imposed on it by the Government. The simple truth is that all these plans are essentially unsound. They are bad for the industries, bad for | the public, bad for the national economy. (Copyright,

Fruits and Vegetables

(Quotations below subject to change, are | average wholesale prices being CE li to buyers by local commission dealers Fruits—Pears, Oregon D' Anjou, fancy, 120s, $4.50; California 20s-24s, box. $3. Bananas, selected, Ib. 434s. Apples, No. 1 Indiana Delicious, 2! inches up, $2.25; No. 1 Indiana Gaiden Delicious, 2'2 inches up. $2; No Staymans 2% inches up, $1.75; No. ! Jona- | ans, 2% inches up, $2.10: No. v York Wealthy, 2'2 inches up, $1.75; Winesaps, 2% mches up. $2. No. York Imperials, 2'2 inches up, $2. Sunkist, 360s-432 $ Limes, Mexican, carton 12s, 30¢ Grapefruit, T'exas seedless, 64s5-80s, $3.25. Oranges, California, Sunkist, navels, $4.50@6. Pineapples, 30s, crate, $4.50. Strawberries, Florida, pt., 16c. Vegetables — Beans, "lorida stringless, hamper, $3.25. Beets, homegrown, bu., $1; new Texas, 3 doz crate $2. Broccoli, California, case, $3.95; bunch, 17!2¢. Brussel Sprouts, per drum, $3.75; qt., New York, 50-1b. bag, 90c; new Texas, '2 crate, $1.35. Carrots, Califorma, bulk, bu, $1.25. Cauliflower, 11s, crate, $2.75. Celerv, Mammoth, doz, 75¢. Celery Cabbage, Michigan, doz.. 90c. Cucumbers, hothouse, doz., $1.50 Chives, doz. pots 0c Egg . Florida, doz, $1.50. Kale. Virginia 5 Hetuce, Iceberg, California best, 75; leaf, hothouse, 10-1b. > Endive. California, doz., $1 Man goes, crate, $3.25: doz. 40c 60c. Mushrooms, homegrown , Indiana yellow. 50-1b. bag, $1.40: Northern Parsley homegrown. doz., large bunch, 50c, Parsnips 12 bu., 85¢. Peas, Mexican . Potatoes. Maine Green 100- Ib. bag $3.25; Idaho RusS . Michigan Rurals, $2.75; Colorado McClus res, $3.75. Rutabagas. Canadian 50-1b. bag, 90¢. Sweet Potatoes, Jersey ‘Possums.”’ $1.90; Louisiana Puerto Ricans, bu., . Radishes, buttons, hothouse, doz. 60c: hothouse, No. 1. 5-l1b. carton, 45¢c. Spinach Texas, bu.. $1 . 30c., Squash, Hubbard, bu s, bu., $1; new Texas. bu.. 3 Tomatoes, repacked, 10-1b. basket, repacked, best, 10-1b. box. $1.40.

1937,

extra

Lemons,

<8,

lant

i 1.2 Southern

(By United Press) CHICAGO, Fvb, ~Apples—Michi McIntosh, $1.50m2. Sweet potatoes Porto Ricans, [email protected] bushel, 60@ 75¢c. Spinach 1 7541 80¢ Tomatoes—Florida £232.75 Cauliflower-—California ' $1851.90. Peas—Mexican, hampers. $5 Celerv—Michigan square crates $1.25 Onions (50-1h. sacks)—Illinois and Indiana yellows, 35@ TG is

Produce Markets

(The prices quoted are paid for stock | gathered in the country, while for deliveries in Indianapolis the prices are 1 cent higher. Each Tull case of eggs must weigh 55 pounds gro Eggs—No. 1

Zan Lousi-

fresh, loss off, 5 lbs. ane over, heavy, 9c. He: over soft mente d. 8¢. Heavy ghorn breed stags, 6c. 7c. Ducks, JSall- feath- | ered and fat, 5 Ibs. and up. Te. Geese, full-fecthered and fat, 5c voung hens, 10 lbs. ms, 8¢: old hens, 9¢: No. 2. 8c Cr reamery, No 1. 87%G88 sc: »@35'2¢c. Butterfat—No. 1, 33c¢;

strictly

oz Heavy breed hens, Leghorn breed hens. breed springers. 1'z Ibs. 13¢. Leghorn breed springers, breed stags, 9c: heavy breed cocks.

and over,

Money and Exchange

INDIANAPOLIS STATEMENT Eigarings .e $2.937.000 | 6 914, 000 |

TREASURY STATEMENT (By United Press)

WASHINGTON, Feb. 11, — Government 1exp penses and receipts for the current fiscal

year through Feb. 9, compared with a year |

ago: This Year . $4. 436,245 377.3 . 2.553, 336.218 25

Last Year Expenses $2.476.317.111.66

Receipts

1,918,912,785.06 30.501.158.847.88

10,166.992 810.73 234,235,913.7¢4

Customs me 685,522.00

| domestic service, casual labor, serv- | ice with certain nonprofit organiza-

NEA Service, Ine) |

Avocados, |

20c. Cabbage. |

Indiana |

Turkeys, voung |

2.216.526 164 90 | 2.259.790.946.76

* ¢

Abreast of The Times on Finance

¢ &

PAGE 12

THURSDAY, FEBRUARY 11, 1937

Phone Revenues Climb :

Operating revenues of 26 associated companies of the American Telephone & Telegraph Co., totaled $9,7,188,063 during the first 11 months of 1936, compared with $879,621,746 in 1935.

FIRST PAYMENT UNDER OLD-AGE

PLAN NOW DUE!

Social Security Act Amount For January to Be Paid This Month.

| | | |

February is the which monthly payments are due from employers under the Federal | Old-Age Retirement Plan of the | Social Security Act, Clarence Man- | | ion, State Director of the National | Emergency Council, announced today. Mr. Manion has prepared the following list of instructions for em- | ployers to follow in making these | | monthly payments: 1. The 1 per cent deducted from | | the wages of employees plus similar ;amounts added by the employers during the month of January are due any time this month. Remit|tances may be made by check, | money order, or cash. The monthly total should be sent to the Collector |of Internal Revenue accompanying an executed blank known as Form [SS-1. This form may be obtained at the local office of the Bureau of | Internal Revenue, Report Due June 30 lg The’ first summary report | [Wier will furnish the Government | with specific details about employees {and their payments will become due [on June 30 of this year. Every three | months thereafter every employer | will be required to make an informational return to the Bureau of

first month in |

| Warren Bros .

| Allied | Col

| Com Solvents ... Du

{ Peistol

New York Stocks

Thomson & MeRinnon)

1 High. Low. A. M Amusements— Crosley Radio Loews Inc ..... : Paramount . 26% | Radio Corp 12 | RKO

yore | 20th Century Fox 36'a Warner Bros ... 16'2

Aviation—

Am Radiator ... Barber Co Lone Star .. 697s Libby Owens Gls 77s Otis Elev .. i Liv

(By

«23% 78

Chemicals— Air Reduction hem Am Com Alcohol Carbon

Pont . | Freeport Tex ... | Liquid Carb | Math Alkali

| Monsanto Chem

Natl Dis (new). & | Schenley Dist . Tex Gulf Sulph.. 41 Union Carbide . U 8 Indus Alco. Am Home Prod.. Drugs— Myers... Lehn & Fink.... Parke Davis ... Sterling Prod .. Un Drug wi. Vick Ch Ei tse Am Brake Shoe

Loc Am Steel Fdy . Bald Loco Gen Am Tnk Car a Gen Elec vo 62%

Puliman Ine “hl West Air Br .. Westingh Elec ..

Financial—

Adams Exp .... Allegheny Corp . Am Int Corp ... Comm Credit ... Chesa Corp . 897% Comm Invst Trst 752 Lehman Corp ..128

. 563% 163

18 5'% oo

Internal Revenue containing a’ summarized total of taxable wages, taxes paid, and also the amount of wages | i-aid to each employee. Form SS-2 is | prescribed for reporting the sum- | | marize information and Form | SS-2a for reporting the wages of in-! dividual employees. 3. All taxes must be paid to the local Collector of Internal Revenue | and not to the Social Security Board or any of its branches. 4. Employers should not refuse! employment to workers for lack of | account number. Deductions | may be made while the application for an account number is filed. It | Is not necessary for an employee, | in order to obtain a fob, to have an account number; but it is necessary for every eligible employee to ob- | Jan one as soon as possible. No Minimum Age 5. There is no minimum age limit, All workers, except those in the excluded fields, must obtain account | numbers. The brevity of the work- | ing period, irregularity of pay, and | the amount of wages do not affect | | the position of the employer or the | | eligibility of the employee with re- | | spect to the provisions of the So- | cial Security Act. | 6. The only persons excluded are | those past 65 years of age and those | working in the ‘excepted fields | enumerated in the Social Security Act which include agricultural labor,

| tions, and government service. All | others are required to apply for an | acount number. 7. The account card should be ! preserved in a safe place. The owner | should copy the number for refer- | ence. Stamps Not Accepted

8. Salaries exceeding $3000 a year

| Servel | Simmons Bed

{ Allis Chalmers

Transamerica ... 17

Feods— Am Sugar ! Armour | Armour 675, pfd Beatrice Cream'y Borden Prod .... Cal Packing. Can Dry G Cont Bak (A). | Corn Prod 69 | Cuban Am Sugar Gen Foods .... 43 Hecker Prod .... Holly Sugar Loose Wiles .... | Natl Biscuit Natl D Prod | Purity Bak Std Brands Swift & Co Swift Intl .. Un Biscuit .... United Fruit. ... Household—

Col Pal Peet Congoleum

Ale

| Mohawk Carpet.

Proc & Gamble. Inc

Mining—

| Alaska Jun

Am Metals | Am Smelt | Anaconda Cal & Hecla Cerro De Pasco. Dome Mines Gt Nor Ore Homestake Howe Sound Ins Cooper ..... | Int Nickel . Kennecott Cop.. McIntyre Mine Park Utah

Vanadium Miscellaneous— . 185%

Can 1093s Am Mach’ & Fdy 241, Anchor Cap .... 23% Brklyn Man Tr . 47% JTC" Add 3a

12 Cont 6 Caterpillar Tract 983% Crown Cork ... 99% Curtis Pub “ ere Co 13 Eastman Kodak. 1 Foster . ecler Gillett Glidden Inter Harv Natl Cash Reg .. Owens Bottle Rem Rand

| are taxable during the calendar year until taxes on the first $3000 of wages in that year have been de‘ducted. Earnings beyond $3000 in | any calendar year are not taxable. | As soon as the amount of $3000 has | been taxed no further payments are | | necessary. i 9. Distinction should be recognized between the taxes due month- | lv under the Federal Old-Age Retirement Plan and the tax due quar- | terly or in a single payment this! year under the Unemployment Com- | | pensation Plan. The Federal Old- | Age Retirement Plan went into ef-| | fect Jan. 1, 1937, and affects all em- | ployers and employees except those in the fields excluded by the Social | Security Act. 10. Do not send stamps in pay- | ment of any taxes. Further tained from H. L. McCarthy,

agen 5.

Underwood E .. 95 44% Motors— Auburn Chrysler | Gen Motors | Graham Mot Hudson "eh Mack Truck ..

34% J 135% 70

Studebaker rei White Mtrs .... | Yellow Truck

Motor Access—

Bendix i Bohn Alum

dd Mfg Buad Wheel Eaton Mfg Elec Auto: Lite. Elec Stor Bat .. Grevhound New Houdaille . 273 | Motor Wheel | Stew Warner 207% Timken Det Axle 287% | Timken ol ... M8

information can be ob- | Re- |}

| gional Director of the Social Secur- |

Board, who has offices in Chicago, Mr. Manion said.

Local Securities

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

B Citz Ind Tel (TH) 42s '61....1 H Tel & Tel Ft W 5125 *55....103 H Tel & Tel Ft W 6s "43. Ind Assoc Tel 4'2s '65... | Indiana_Tel Co 5s '60. | Indpls Railway Inc 5s '67. . | Indpls Water Co 32s '66.. 1 | Interstate Tel & Tel 5las 63. 9 {| Kokomo Water Works 5s '58 . Morris 5 & 10 Stores 5s '50 ...100 Muncie Water Works 5s "65... Noblesville H I. & P 4 | Ohio Tel Serv % . Richmond W W 5s ’57 Seymour Water Ca 5s 67 { 1 H Trac & L 44

H Water Works 6s '49 { Trac Term Co 5s '57 STOCKS | Beit Railroad & St Yds com.. Belt Railroad & St Yds rd. » a Cent Ind Pwr pfd 7s 42 Home Tel & Tel Ft Wayne. . Hook Drug Inc 13 Ind & Mich Elec Co pfd Ts... | Ind Gen Serv Co 6s 104% | Ind Gen Serv Co 63 Ind Hydro Elec Co Ts “s | Indpls Pwr & Lit Co pfd’ 6s | Indpls Pwr & Lit Co pfd 6lbs 100 | Indpis Water Co pfd 5s 96 | N Ind Pub Serv nfd 5'%s | N Ind Pub Serv pfd 6s .. N Ind Pub Serv pfd %s ... Progress Laundry Co .. Pub Serv Co Ind _vnfd 6s Pub Serv Co of Ind 7s | Terre Haute Elec Co 6s Union Titie Co com. .

BUSINESS EDUCATION

Strong Accounting, Bookkeeping, Stenographic and Secretarial courses. Day and evening sessions. LI-8337. Fred W. Case, Princi pal

CENTRAL Business College

Architects and Builders Bufiding Pennsylvania & Vermont Sts, Indpls.

[ity

whife. 40¢. Rhu- | 50c. |

Asked 104%,

17¢ | : | % vv

WE OFFER

TRANSAMERICA CORPORATION COMMON Listed New York Stock Exchange

Descriptive Lite

T. P. BURKE

Merchants Bank Bldg. Fort Wayne

INCORPORATED

INDI South

rature on Request

8 COMPANY

ANNAPOLIS Bend

RI-8583 Terre Haute

| Cont of De1..... ! Houston (mew)... Mid Cont pe} “ah Oo Oil “eh Pet Corp Phillips Pet ‘enh Plymouth Oil ... Pure Oli

Skellay diel Va

Tidewater "asen Un Oil of C

Rite Aten

Chi Chi N W pfd.. Dela & Hud _.... 5 Del Lae & Erie Erie pfd 313 Gt Northern ple 133; Ill Central 265% Lehigh Valtey AN 214 MK&T 814

Mo Pac RM “hh N Y Cen NY New Haven 6' N Y Ont & West 5% Fo Pacific 7 Pen R

Union Pac

134, West Maryland . ee 10% 10%

10 Prev. High’ A.M. close Retail Stores— Allied Stores.... Assd Dry Good Best & Co

Gd Un Tea Kresge S S Kroger Groce McCrory St .... Marshall Field .. Mon ard as Pont 3 C...vn Safeway St . . Sears Roebuck . Woolworth ......

Rubbers— Firestone

Low

S Rubber .... U S Rubber pfd. Steels— Acme Steel Am Roll Mills Beth Steel . Byers A M. Cruc Stee Inland Steel Keystone Steel .. Ludlum Steel ... McKeesport Tin. id Steel

» Sharon eel U 8S Pipe & : Fdy. 6934 U 8 Steel . 107% U S Steel pre, L.149% Warren P Fdy 43 Yngstwn S & T. 86% Textiles— Adams Millis ... Amer Woolen ... Belding Hem ... Celanese Corp.. Collins Aikman.. Gotham Hose ... Indus Rayon ...

Tobaccos—

Am Sum TOR. .“ Am .

Philip Morris ... Reyn Tob “P’.. § Utilities— Am & For Pwr.. 12% hm Power & Lit 14's AT&T 183

Elec Pwr & Lit. Interboro R T Int T ® T ys Lou G & E ‘A’... Natl Bw & La

So Cal Edison .. Std Gas 1 Stone & Webster United Corp Un Gas The ‘ish Ut Pwr & Lt ‘A’. Western Union

Chicago Stocks

(By Atkins, Hamill & Gates) 11.00 Prev. | Close. | Adams Manufacturing Advance Alum Allied Proaucts Asbestos Manufacturing Associate Investors Athey Truss Wheel Berghoft Butier Brothers Chicago Corp

| | Commonwealth Edison

INDIANA LAW SCHOOL

(Of Indianapolis) Established 1894 DAY AND EVENING DIVISIONS Wr.te or Call Registrar 321 State Lite 8 Bld RI-2890 : IND NAPOLIS Complying ot ar of the prt Court and the American Bar Assn.

303-

oe [ID | PLAN DELAWARPE OHIO

| Chicago Rivet and Machine. { Cities Service ..

Consolidated Biscuit Cord Corp Crane Co .... Cunningham Drug Dayton Rubber Field Marshal .. General Household Great Lakes Dredge Jarvis W B Katz Drug Ken-Rad Tube Libby McNeil & "Libby Lincoln Printing . Lion Oil .. . Loudon Packing . Midwest Corp ... Noblitt Sparks Northwest Band Corp “ Northwest Engineering Perfect Circle “et Public Service North Ill NR we 95 Schwitzer-Cummins .. Signod= Steel .. ‘as Standard Dredge pfd Sundstrand Machine Swift International Utah Radio Prod Walgreen William Oil-O-Matie Woodall Industries Zenith

New York Curb

(By Atkins, Hamill & Gates M

American Airline American Cynamid Am Gas and Electric American Genera . Arkansas Natural Gas “

native { ranged from $10.25 to of the Westerns graded choice and |

Barium Shee] Carrier Cor Chicago Flexible Shaft Columbia Oil Consolidated Copper Cooper Bessmer Detroit Grev Iron Eagle Picher Lead Electric Bond and Share "ihn Ford Motors, Canada “A” General Tire Greenfield Tap’ and Die Gulf Oil Penn Humble of and Refining Co.

National Rubber Niagara Hudson Power..

Chicago Grain Futures

(By James E. Bennett & id A.M.

Prev, Low close $l. 35%

Ts Ts i 137

4 $1. 357 1.1 1.13%

1.00% 1.04 9672

51 45s 42%

Sls 45% 42%

1.1134 1.1134s L.11'5 1.02 1.02b 1.02% 91% Sllas 81% “PBid: sSellers.

Produce Markets

(By United Press) CHICAGO, Feb. 11. — Eggs — Market steady; receipts, 9415 cases; fresh graded firsts, 22c; extra firsts, 22%c; dirities, 19c; current receipts, 21%e¢; checks, 18%0, Butter—Market, easier; receipts, 7243 tubs; extra firsts (90-912 score), 33c; specials, 333, @34%c; extra (92 score), 33%c: firsts, 31% @32Vc; standards, 38%c. oultry—Market, steady; receipts, 37 trucks; geese, 15¢; ducks, 12@19c; spring chickens, 18@ 20c; broilers. 21% @ 24c; ens, 13@18c; Isghorn hens, 9@13c; old roosters, 12@13c; ys, l4@ 19¢. 17% @ 2

173%¢; Longhorns, 17% @173

PORKER PRICES REGAIN LOSS OF 10 GENTS HERE

Equal Highs of Yesterday With Top of $10.40 for 200-210 Pounders.

Opening 10 cents higher than the previous close, hog prices on weights above 160 pounds today equaled the best quotations of yesterday at the]

Indianapolis Union Stockyards. Top | price of $10.40 was paid for choice 200 to 2]0-pounders. Receipts were 5000.

At the close 160 to 180-pound weights were $10.30; 180 to 200-| pounders sold for $10.35; pounds, $10.40; 210 to 225 pounds, $10.35; 225 to 235 pounds, $10.30, and the 235 to 250-pound class was $10.25. Packing sows were steady at $9 to $9.50, top $9.65. Weights of 250 to 260 pounds sold for $10.20; 260 to 275 pounds, $10.15; 275 to 285 pounds, $10.10; 285 to 300 pounds, $10.05; 300 to 325 pounds, $10; 325 to 350 pounds, $9.90, and the 350 to 400-pound class brought $9.80. In the lighter divisions, 155 to 160 pounders sold for $10; 150 to 155pound weights were $9.75; 140 to 150 pounds, $9.50; 130 to 140 pounds, $9.25; 120 to 130 pounds, $9; 110 to 120 pounds, $8.75, and weights of 10) to 110 pounds were $8.50.

Lambs Down 25 Cents

The cattle market was fully steady and fairly active on all slaughter classes. One load of choice 1265pound steers brought $12.25. Most steers and yearlings brought $8 to $9.50.

Heifers were largely $6 to $8. Common and medium beef cows were $5 to $5.75, the cutter grades $3.75 to $4.75. Medium bulls ranged | from $6 to $6.50. Receipts were 1000 | cattle and 600 calves. Vealers were steady with the good ! and choice kinds selling for $10 to! $10.50. Fat lambs were 25 cents lower. Sheep were steady on a run of 4000. | The bulk of the good and choice and fed Western lambs | $10.50. Most |

went at the top price. The bulk of | the good and choice slaughter ewes | sold for $5 to $5.50. |

HOGS Bulk Receipts $10.30% 10.60 500 10.35% 10.60 10.25 10.60 10.2542 10.50 10.05 10.40 . 11. 10.15@ 10.40 § | Light Lights— (140-160) Good and Medium . Lightweights— (160-180) Good and

Medium (180-200) Good and Medium . Medium Weights— (200-220) Good and (220-250) Good and Heavyweights— (250-290) Good and (290-350) Good and Packing Sows— (275-350) Good (350-425) Good .. (425-450) Good ... (275-500) Medium Slaughter Pigs— (100-140) Gooe 2 and choice. .

6. 8. 9. 10.

choice. .$ [email protected]

8.606 10.00

10.0041 10.35 9.206110.10 10.1541 10.40 9.706 10.15

choice. .

10.15@ 10.40 10.1562 10.35

choice. . choice. .

10.00@ 10.05 9.80@ 10.05

choice. . choice...

—Receipts, 1000— Choice Good Medium Common (900-1100) S i

00 Medium Common (1100-1300) i

$11.75@12.

(550-900) 9. 2a il

(1300-1500)

TONS DNA NAAN

AL an

(500-750)

medium Good and choice . Common, medium.

Cows

(750-900)

2 | Common and medium ... Low cutter and cutter

Bulls, good Cutter, com. Vealers —Receipts, Good and choice Medium N Cull and medium Calves (250-500) Good and choice $ 6.00@ Common, medium 5.00@ Feeder and Stocker Cattle (500-800) Soe and choice $ 6.50@ Common, medium. 5.50@ (800-1050) Good and choice . 6.50@ Common, medium. 5.50@

..$ 9.504 8.00@ 5.00@

DHONW® Nn DIN oD QUOWN DD

Heifers—

Good and choice Common and medium

SHEEP AND LAMBS

—Receipts, 4000— Lambs— 10.25 10 Ni 10.004 10.2 8.50 10 00 7.25@ 8.50 |

Ewes— (90-175) Good and choice . 5.00@ 5.50 Common, medium. 3.50@ 4.50 va reP and lamb quotations on clipped sis

NAMED REPRESENTATIVE

Appointment of Riley O. Calvert, Bargersville, as sales representative for T. P. Burke & Co. was announced today by T. W, Davis, sales manager. Mr. Calvert will operate In the South Central Indiana terriory.

MEN’S SUITS Refitted, relined, remodeled. Real Tailoring with Satisfaction.

LEON TAILORING CO.

235 Mass. Ave.

. 17@17%c¢ Daisies. 4c. pphTivals, 62; on track, 237; shipments,

I —————

One Jay Rd. 5 530 CHICAGO $2

GREYHOUND TERMINAL Traction Terminal Bldg. R Illinois and Market Sts. RAVEL BUREAU Smurioan atonal Bank, on Rl Jn Pankers rust Company, . % Fletcher Sav. & Trust Co., Ph. RI-1551

) lo Sa

GREYHOUND

Fares are now lowest in history (only 1/3 the cost of driving a car) and in addition you save 20° on the return gortion of your round-trip ticket! ravel now—in warmth and comfort!

i Nickel Plate

New York Bonds

(Reprinted From Late Times Yesterday) DAILY BOND INDEX (1926 Average Equals 100) 2 20 20 Rails Utils. 100.° 100.7 100.2 100.3

92. 101. 2

60 Bonds

+>. Dg 105.1 (Copyright, 1937, ard Statistics) (By E. 8. Moseley & Co.) + GOVERNMENT BONDS Treasurys

414s 4s 334s 33 330s aris

3% 3s 31as

200 to 0. |

Federal Farm Mortgage (orp. 1949 1942-47

DOMESTIC

Close Teday’s Bond Leaders {Chi & N Western 4'as '40 Mo Kan & Tex 5s '67 N Y Central 6s '44 Paramount Pic 6s ’ Rep Steel 4'2s '50

Alleg Corp 5s Alleg Corp 5s ‘49 Alleg Corp bs °’ So Am Frgn Pow 0 Am Tei & Tel 5) 2s 4! Arm & Co (Del) 4s ’55 Atl Coast Line 4s '52 Atl Coast Line 4's ° Atch Top & S Fe 4las 48 .... Am Wat Wks 6s '75 Balt & Ohio 5s 2000 Balt & Ohio 6s "95 Balt & Ohio 4'2s '60 . Buf fRoch & Pitt 42s '57 .... Beth Steel 4'4s '60 : 1 Chi Milw & St P 5s . Chi Milw & St P Cleve Un Term 5s '73 Cleve Un Term 45s’ Col Gas 5s May 'He | Col Gas 3s April 5 Col Gas 5s '61 . Can Pac Perp 4s. Cent Pac 5s '60 Big Four 4!:s Bix Four 5s '63 . olorado & So 4'% Ti | Chi & Nor West 4%s Con Gas 4'4s 51 Chesa Corp 35s y Rel, & Huds 4s Dock as IN y Dock 5s °’ | Erie 5s '75 e 5s ‘67 Lhe Grt Northern ‘G’ 4 Grt Northern ‘nn’ 3 | Grt Northern 4's '7% 106 Gen Stl Cast WW 512s 49 .... pate Hud * Manhat Ref 5s '57 .... : nt 434s '66 Hl Sens Jt 4%s '63 Ill Cent 5s 63 . Interboro Rapid Trans s "66. Interntl Hy Elec 6s ‘en Interntl Tel & Tel Thy '39 ... Interntl Tel & Tel 5s '55 Interntl Tel & Tel 4'2s '52 .... Lehigh Valley 4s 2003 McKess & Rob 5's 'f Mo Kan Tex Adj 5s '67 Natl Dairy 33s ’ Nat Steel 4s '65 . Nickel Plate 4'as 8 4s N Y Cent 5s 20 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 5s '41 New Orleans Term 1s’ '55 Penn Ry 4s 3 . Penn Rv 44s a

Penn Ry 3%s '70 Portland Gen El 412s "60 Para Publix 6s "55 Penn P & L 4'28 Postal Tel & Cab 58 '5 Rem Rand WW 4's Shell Union Oil Sieg i Socony Vac 3'2 Sou Pac 4'zs ’ Sou Pac 4':s Sou Pac 4s '49 Sou Rail 4s’ Sou Rail 6s Sou Rail 6'2s ’5 Texas Pac 5s '’ Texas Pac 6s 77 Third Ave Adj 5s '60 Union Pac 4s '47 United Drug hy

US NY NH & H NY NH & Hart 4'us '67 Warner Bros 6s '39 Western Union 5s '60 rae Youngstown S & T 4s '61 Youngstown 8S & T 3l2s °’

FOREIGN 6s '57 '56

Argentina A Australia as Brazil Canadian Gov 4s Denmark 4'zs '55 German Blas German 7s’ Italy Ts '51 Japan 6':s '5 Poland 7s '47 Rome 6'>s '52 Tokio City 54s '

New Bond Issues

(By W. L. Lyons & Co ti i Argentine Rep 418 'M.ccavvss 99% Armour 4s ’'57 . 987s Assd Tel 4s’ B & O 425 '39 Calif Ore Prw Cent Maine Pwr

Cleve Tractor be Cudahy Pkg 334s '55 Cudahy Pkg 4s '50 Fla Power 4s '66 Fla Power 5s '66 ‘ Great Nor 3%s '67 .. 91 Houston Lt & Power 315s ‘66. . Indpls Water 32s ’66.. 10 Iowa Sou Util 5% 2s '50 . Kansas P & EA 128 '65. Koppers Co 4

Minn Gas & Lite 4s *50. Narra Elec 3'zs ‘ese New England Pow 3'4s 8)i.... N Y States Elec Gas 4s '65. Ohio Edison 3? 2 Okla G & B 4s Okla Gas & E Pac Gas & E Pac Lighting 4! EF Peo Gas Lite Coke 4s ’ Penn Tel 4s '65 .e Railway & “Lite Sec 415s '55.. Sou Cal G & E 4s '65.. 10 Sou Kraft 4's ’ Wise G & BE 35s °’ Wise Pub Svc 4s’

Investment Trusts

(By Thoms D. Sheerin & Co.) Bid Administered Fund 2d ......$20.52 Affiliated Fund Inc (new)... 11.89 American Business Shares ...

£21.81 12.87 1.47

2 | Century Shares Trust

Your Federal Income Tax

(16th of a Series)

LOSSES ON STOCK TRANSACTIONS

O gain or loss is recognized for income-tax purposes as a result of the exchange of stock or securities in a corporation solely for stock or securities in another corporation in pursuance of a plan of reorganization to which both corporations are parties or as a result of the exchange of stock or securities in a corporation solely for stock or securities in the same corporation in connection with a recapitalization. Where money or other property is received along with such exchanges, no loss is recognized, although a taxable gain may result. The statute also prohibits the deduction for any loss from the sale or other disposition of stock or securities where the taxpayer, within a period of 30 days before or after the date of sale or other disposition, acquires or enters into a contract or option to acquire substantially identical stock or securities.

39.68 45.50 20.15

Broad Street Investing Bullock Fund Ltd

| Corp ‘AA’ or ‘Accum’ (mod.) Corp ‘AA’ or ‘Acc’ (unmod.) Corp Trust Shares f(orig.) .. { Diversified Trustee Shs ‘B’ | Diversified Trustee Shs ‘C’ Diversified Trustee Shs ‘R’.. Dividend Shares Inc Cava Fundamental .... General Investors Trust Incorporated Investors ‘eu Market Street Invest Corp se 31 Maryland Fund . Massachusetts Investors Mutual Investment Fund .. Nation-Wide Voting North American Tr Shs 1955 North American Tr Shs 1956 North Amer Tr Shs (orig. Quarterly Income Shs (new) Selected Amer Shs Inc (new) Selected Amer Shs (orig) .. Selected Cumulative Shares. . Selected Income Shares . State Street Invest Corp ... Supervised Shs Inc (Del.).... Trustee Am Bk 'e Trustee Standard Oilshs ‘A’. Trustee Standard Oilshs '‘B'..

Unlisted Stocks

(By Blythe & Co.) Bid

7.84

Bankers Trust

Central Hanover Chemical | Continental Tilinois Guaranty . Irving Manufacturers | National City reves | National City Cleveland | National Shawmut First National Boston | FIRE INSURANCE | Aetna Fire Insurance sever | American Ins of Newark | Baltimore American | Franklin Fire | Federal Insurance “ges Great American Insurance... | National Fire Hartford | Hanover Fire National Liberty | North River | Phoenix { S ire ..... | Westchester Fire

Ask | | $1.02 for the

REAL INCOME AT

'STARTOF'37UP

13 CENTSINU.S.

Record-Breaking Dividends, Gains in Salaries and Wages Are Aids.

Times Special MINNEAPOLIS, Feb. 11.—Real income of the American people at the beginning of 1937 was 15 cents more on the dollar than it was at the start of 1936, according to a consumer's study made by Investors Syndicate. The study showed that the aver= age individual cash income was $1.18 at the turn of the year for every $1 of income the year earlier, while cash outgo was $1.03 - as against $1 at the corresponding date 12 months before. Record-breaking dividend declarae tions. impelled partly by the undis= tributed profits tax, mainly were responsible for the increase, the syndicate pointed out, although im=portant gains in wages and salaries also contributed to the amount peo ple had to spend. Equally important, however, in the spurt in real income was the slow rise in average living costs, the study indicated. Wage earners, as the year dawned, were being paid $1.14 for every $1 they were getting at the start of the preceding year while salaried work= ers were receiving $1.08 at the beginning of this year for every $1 being put in their envelopes on the same date a year ago. “Real” dollars are different from actual dollars received in the pay envelope, since “real” dollars repe resent the difference between earne ings and living costs. Despite general increases in v= ing costs, with rents leading the lists, real income increased 15 cents in 1936 while living costs were only rising 3 cents, the study said. Landlords were getting $1.10 for the same sort of living accommodations that could be had for $1 at the start of 1936 and the butcher, baker and grocer were receiving same amount and quality of food for which they were getting $1 at the turn of 1936, ac= cording to the syndicate. LOCAL CASH MARKET City grain elevators are paying $1.3¢ for No. 1 red wheat. Other grades on their merits. Cash corn now No. 3 yellow, $1.03. Oats, 44c, Hay—No. 1 timothy, $13.50@14: No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; second cut= ting, [email protected].

Colonial

Savings and Loan Association 28 South Illinois St.

Rl. 9381

* * * A LEGAL

American National Bank Bankers Trust Company Fidelity Trust Company Fletcher Trust Company Indiana National Bank

THE MEMBER BANKS OF THE

Indianapolis Clearing House Association WILL NOT BE OPEN

LINCOLN’S BIRTHDAY - FEB. 12

Union Trust Company

HOLIDAY * * Indiana Trust Company Live Stock Exchange Bank Merchants National Bank Peoples State Bank Security Trust Company

FULL PINT

$105

FULL — QUART